Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities 20.8% |
||||||||
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027 | 1,200 | 1,158 | ||||||
AmeriCredit Automobile Receivables Trust, Series 2023-1, Class A2B, (United States 30 Day Average SOFR + 0.73%), 6.04%, 10/19/2026 (aa) | 1,262 | 1,263 | ||||||
Anchorage Capital CLO Ltd., (Cayman Islands), | ||||||||
Series 2014-3RA, Class A, (CME Term SOFR 3 Month + 1.31%), 6.68%, 01/28/2031 (e) (aa) | 1,063 | 1,062 | ||||||
Series 2015-7A, Class AR2, (CME Term SOFR 3 Month + 1.35%), 6.72%, 01/28/2031 (e) (aa) | 1,471 | 1,465 | ||||||
Atlas Senior Loan Fund III Ltd., (Cayman Islands), Series 2013-1A, Class AR, (CME Term SOFR 3 Month + 1.09%), 6.47%, 11/17/2027 (e) (aa) | 12 | 12 | ||||||
AutoFlorence Srl, (Italy), | ||||||||
Series 2, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.57%, 12/24/2044 (aa) | EUR | 517 | 547 | |||||
Series 2, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 4.62%, 12/24/2044 (aa) | EUR | 107 | 111 | |||||
Series 3, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.95%), 4.82%, 12/25/2046 (aa) | EUR | 1,000 | 1,061 | |||||
Series 3, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 2.35%), 6.22%, 12/25/2046 (aa) | EUR | 100 | 106 | |||||
Autonoria Spain 2022 FT, (Spain), | ||||||||
Series 2022-SP, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.84%), 4.71%, 01/25/2040 (aa) | EUR | 697 | 741 | |||||
Series 2022-SP, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 2.00%), 5.87%, 01/26/2040 (aa) | EUR | 87 | 93 | |||||
Autonoria Spain 2023 FT, (Spain), | ||||||||
Series 2023-SP, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.57%, 09/30/2041 (aa) | EUR | 700 | 740 | |||||
Series 2023-SP, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.15%), 5.02%, 09/30/2041 (aa) | EUR | 100 | 106 | |||||
Azure Finance No. 3 plc, (United Kingdom), Series 3, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.80%), 6.00%, 06/20/2034 (aa) | GBP | 393 | 480 | |||||
BA Credit Card Trust, | ||||||||
Series 2021-A1, Class A1, 0.44%, 09/15/2026 | 2,180 | 2,117 | ||||||
Series 2022-A2, Class A2, 5.00%, 04/15/2028 | 1,485 | 1,470 | ||||||
Bank of America Auto Trust, Series 2023-1A, Class A2, 5.83%, 05/15/2026 (e) | 1,000 | 999 | ||||||
Barings CLO Ltd., (Cayman Islands), Series 2019-3A, Class A1R, (CME Term SOFR 3 Month + 1.33%), 6.66%, 04/20/2031 (e) (aa) | 250 | 249 | ||||||
Battalion CLO 18 Ltd., (Cayman Islands), Series 2020-18A, Class AR, (CME Term SOFR 3 Month + 1.46%), 6.77%, 10/15/2036 (e) (aa) | 1,000 | 987 | ||||||
Bavarian Sky 5 plc, (United Kingdom), Series UK5, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.62%), 5.82%, 04/20/2031 (aa) | GBP | 1,215 | 1,486 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued |
||||||||
Benefit Street Partners CLO Ltd., (Cayman Islands), Series 2015-6BR, Class A, (CME Term SOFR 3 Month + 1.45%), 6.78%, 07/20/2034 (e) (aa) | 1,000 | 993 | ||||||
Benefit Street Partners CLO VIII Ltd., (Cayman Islands), Series 2015-8A, Class A1AR, (CME Term SOFR 3 Month + 1.36%), 6.69%, 01/20/2031 (e) (aa) | 941 | 940 | ||||||
BHG Securitization Trust, Series 2022-B, Class A, 3.75%, 06/18/2035 (e) | 44 | 44 | ||||||
Birch Grove CLO Ltd., (Cayman Islands), Series 19A, Class AR, (CME Term SOFR 3 Month + 1.39%), 6.80%, 06/15/2031 (e) (aa) | 1,907 | 1,901 | ||||||
BMW Canada Auto Trust, (Canada), | ||||||||
Series 2022-1A, Class A1, 3.65%, 12/20/2024 (e) | CAD | 131 | 96 | |||||
Series 2023-1A, Class A1, 5.43%, 01/20/2026 (e) | CAD | 703 | 516 | |||||
BMW Vehicle Lease Trust, Series 2023-1, Class A2, 5.27%, 02/25/2025 | 399 | 398 | ||||||
BMW Vehicle Owner Trust, Series 2023-A, Class A2B, (United States 30 Day Average SOFR + 0.43%), 5.74%, 04/27/2026 (aa) | 3,449 | 3,448 | ||||||
Bumper De SA, (Luxembourg), Series 2023-DE1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.58%), 4.45%, 08/23/2032 (aa) | EUR | 600 | 635 | |||||
Burnham Park CLO Ltd., (Cayman Islands), Series 2016-1A, Class AR, (CME Term SOFR 3 Month + 1.41%), 6.74%, 10/20/2029 (e) (aa) | 296 | 296 | ||||||
Capital One Multi-Asset Execution Trust, | ||||||||
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.69%), 6.03%, 07/15/2027 (aa) | 900 | 901 | ||||||
Series 2022-A2, Class A, 3.49%, 05/15/2027 | 500 | 483 | ||||||
CARDS II Trust, (Canada), Series 2023-2A, Class A, (United States SOFR + 0.85%), 6.17%, 07/17/2028 (e) (aa) | 1,100 | 1,103 | ||||||
CarMax Auto Owner Trust, | ||||||||
Series 2021-2, Class A3, 0.52%, 02/17/2026 | 555 | 540 | ||||||
Series 2022-2, Class A2B, (United States 30 Day Average SOFR + 0.60%), 5.91%, 05/15/2025 (aa) | 152 | 152 | ||||||
Series 2022-4, Class A2A, 5.34%, 12/15/2025 | 444 | 443 | ||||||
Series 2022-4, Class A2B, (United States 30 Day Average SOFR + 0.90%), 6.21%, 12/15/2025 (aa) | 634 | 635 | ||||||
Cars Alliance Auto Leases France V 2023-1, (France), | ||||||||
Series 2023-1FRV, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.65%), 0.00%, 10/21/2038 (w) (aa) | EUR | 900 | 951 | |||||
Series 2023-1FRV, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.30%), 0.00%, 10/21/2038 (w) (aa) | EUR | 400 | 423 | |||||
Carvana Auto Receivables Trust, Series 2023-P4, Class A2, 6.23%, 01/11/2027 (e) | 600 | 600 | ||||||
Chesapeake Funding II LLC, Series 2020-1A, Class A2, (United States 30 Day Average SOFR + 0.76%), 6.08%, 08/15/2032 (e) (aa) | 167 | 167 | ||||||
CIFC Funding Ltd., (Cayman Islands), Series 2014-5A, Class A1R2, (CME Term SOFR 3 Month + 1.46%), 6.77%, 10/17/2031 (e) (aa) | 1,000 | 998 | ||||||
CIT Mortgage Loan Trust, Series 2007-1, Class 1A, (CME Term SOFR 1 Month + 1.46%), 6.78%, 10/25/2037 (e) (aa) | 23 | 23 | ||||||
Citibank Credit Card Issuance Trust, | ||||||||
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.73%), 6.06%, 04/22/2026 (aa) | 900 | 902 | ||||||
Series 2018-A5, Class A5, (CME Term SOFR 1 Month + 0.72%), 6.05%, 08/07/2027 (aa) | 900 | 900 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued |
||||||||
Citizen Irish Auto Receivables Trust, (Ireland), | ||||||||
Series 2023-1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.77%), 4.66%, 12/15/2032 (aa) | EUR | 730 | 773 | |||||
Series 2023-1, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.40%), 5.29%, 12/15/2032 (aa) | EUR | 121 | 128 | |||||
CNH Equipment Trust, Series 2023-B, Class A2, 5.90%, 02/16/2027 | 600 | 600 | ||||||
Daimler Trucks Retail Trust, Series 2023-1, Class A2, 6.03%, 09/15/2025 | 500 | 500 | ||||||
Dell Equipment Finance Trust, |
||||||||
Series 2021-2, Class A3, 0.53%, 12/22/2026 (e) | 284 | 281 | ||||||
Series 2023-2, Class A2, 5.84%, 01/22/2029 (e) | 500 | 499 | ||||||
Discover Card Execution Note Trust, Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.71%), 6.05%, 12/15/2026 (aa) | 900 | 901 | ||||||
Dowson plc, (United Kingdom), |
||||||||
Series 2021-2, Class B, Reg. S, (SONIA Interest Rate Benchmark + 1.20%), 6.40%, 10/20/2028 (aa) | GBP | 188 | 229 | |||||
Series 2022-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.92%), 6.12%, 01/20/2029 (aa) | GBP | 117 | 143 | |||||
Series 2022-2, Class B, Reg. S, (SONIA Interest Rate Benchmark + 2.70%), 7.90%, 08/20/2029 (aa) | GBP | 500 | 615 | |||||
Dryden 49 Senior Loan Fund, (Cayman Islands), Series 2017-49A, Class AR, (CME Term SOFR 3 Month + 1.21%), 6.52%, 07/18/2030 (e) (aa) | 1,396 | 1,392 | ||||||
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e) | 734 | 620 | ||||||
FCT Autonoria, (France), |
||||||||
Series 2023-DE, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.47%), 4.34%, 01/26/2043 (aa) | EUR | 1,200 | 1,270 | |||||
Series 2023-DE, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.15%), 5.02%, 01/26/2043 (aa) | EUR | 300 | 317 | |||||
FHLBs, 5.55%, 04/05/2024 | 2,000 | 1,997 | ||||||
Ford Auto Securitization Trust, (Canada), Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e) | CAD | 511 | 370 | |||||
Ford Credit Auto Lease Trust, Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.59%), 0.00%, 02/15/2026 (aa) | 1,000 | 1,000 | ||||||
Ford Credit Auto Owner Trust, |
||||||||
Series 2022-B, Class A2A, 3.44%, 02/15/2025 | 701 | 698 | ||||||
Series 2022-D, Class A3, 5.27%, 05/17/2027 | 110 | 109 | ||||||
Series 2023-A, Class A2B, (United States 30 Day Average SOFR + 0.72%), 6.03%, 03/15/2026 (aa) | 2,033 | 2,036 | ||||||
Ford Credit Floorplan Master Owner Trust A, Series 2023-1, Class A2, (United States 30 Day Average SOFR + 1.25%), 6.56%, 05/15/2028 (e) (aa) | 1,290 | 1,299 | ||||||
FS Rialto Issuer LLC, |
||||||||
Series 2022-FL4, Class A, (United States 30 Day Average SOFR + 1.90%), 7.21%, 01/19/2039 (e) (aa) | 483 | 477 | ||||||
Series 2022-FL6, Class A, (CME Term SOFR 1 Month + 2.58%), 7.91%, 08/17/2037 (e) (aa) | 640 | 639 | ||||||
Gilbert Park CLO Ltd., (Cayman Islands), Series 2017-1A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.76%, 10/15/2030 (e) (aa) | 1,584 | 1,583 | ||||||
GM Financial Automobile Leasing Trust, |
||||||||
Series 2022-2, Class A2, 2.93%, 10/21/2024 | 380 | 379 | ||||||
Series 2022-3, Class A2A, 4.01%, 10/21/2024 | 293 | 292 | ||||||
Series 2023-1, Class A2A, 5.27%, 06/20/2025 | 813 | 811 | ||||||
Series 2023-2, Class A2A, 5.44%, 10/20/2025 | 1,000 | 996 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued |
||||||||
GM Financial Consumer Automobile Receivables Trust, |
||||||||
Series 2022-3, Class A2A, 3.50%, 09/16/2025 | 2,006 | 1,993 | ||||||
Series 2022-3, Class A2B, (United States 30 Day Average SOFR + 0.60%), 5.91%, 09/16/2025 (aa) | 801 | 802 | ||||||
Series 2023-2, Class A2A, 5.10%, 05/18/2026 | 900 | 895 | ||||||
Series 2023-2, Class A3, 4.47%, 02/16/2028 | 429 | 419 | ||||||
Series 2023-3, Class A2B, (United States 30 Day Average SOFR + 0.47%), 5.78%, 09/16/2026 (aa) | 2,928 | 2,930 | ||||||
GMF Canada Leasing Trust Asset-Backed Notes, (Canada), Series 2023-1A, Class A1, 5.46%, 04/21/2025 (e) | CAD | 889 | 653 | |||||
Golden Bar Securitisation Srl, (Italy), Series 2023-2, Class B, Reg. S, (ICE LIBOR EUR 3 Month + 2.90%), 6.85%, 09/22/2043 (aa) | EUR | 328 | 348 | |||||
Hertz Vehicle Financing III LLC, Series 2022-3A, Class A, 3.37%, 03/25/2025 (e) | 100 | 99 | ||||||
Honda Auto Receivables Owner Trust, Series 2022-2, Class A2, 3.81%, 03/18/2025 | 1,676 | 1,667 | ||||||
Hyundai Auto Lease Securitization Trust, |
||||||||
Series 2021-C, Class A3, 0.38%, 09/16/2024 (e) | 607 | 603 | ||||||
Series 2023-A, Class A2A, 5.20%, 04/15/2025 (e) | 729 | 727 | ||||||
Hyundai Auto Receivables Trust, |
||||||||
Series 2022-A, Class A2B, (United States 30 Day Average SOFR + 0.63%), 5.94%, 02/18/2025 (e) (aa) | 540 | 540 | ||||||
Series 2022-B, Class A2A, 3.64%, 05/15/2025 | 448 | 445 | ||||||
Series 2023-A, Class A2A, 5.19%, 12/15/2025 | 800 | 797 | ||||||
Series 2023-A, Class A3, 4.58%, 04/15/2027 | 500 | 492 | ||||||
Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.48%), 5.79%, 05/15/2026 (aa) | 1,987 | 1,987 | ||||||
John Deere Owner Trust, Series 2022-B, Class A2, 3.73%, 06/16/2025 | 407 | 404 | ||||||
Koromo Italy Srl, (Italy), Series 1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.80%), 4.67%, 02/26/2035 (aa) | EUR | 432 | 458 | |||||
KREF Ltd., (Cayman Islands), Series 2022-FL3, Class A, (CME Term SOFR 1 Month + 1.45%), 6.78%, 02/17/2039 (e) (aa) | 945 | 933 | ||||||
Lt Autorahoitus IV DAC, (Ireland), Series 4, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.69%), 4.42%, 07/18/2033 (aa) | EUR | 566 | 599 | |||||
M&T Equipment Notes, Series 2023-1A, Class A2, 6.09%, 07/15/2030 (e) | 700 | 699 | ||||||
Madison Park Funding XLI Ltd., (Cayman Islands), Series 12A, Class AR, (CME Term SOFR 3 Month + 1.09%), 6.44%, 04/22/2027 (e) (aa) | 541 | 540 | ||||||
Madison Park Funding XXXIII Ltd., (Cayman Islands), Series 2019-33A, Class AR, (CME Term SOFR 3 Month + 1.29%), 6.60%, 10/15/2032 (e) (aa) | 250 | 248 | ||||||
Master Credit Card Trust II, (Canada), Series 2023-1A, Class A, 4.70%, 06/21/2027 (e) | 600 | 587 | ||||||
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e) | 1,500 | 1,449 | ||||||
Navient Private Education Loan Trust, |
||||||||
Series 2017-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.35%, 12/16/2058 (e) (aa) | 49 | 49 | ||||||
Series 2018-BX, Class A2B, Reg. S, (CME Term SOFR 1 Month + 0.83%), 6.17%, 12/15/2059 (aa) | 452 | 448 | ||||||
Series 2020-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.35%, 11/15/2068 (e) (aa) | 623 | 617 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued |
||||||||
Navient Private Education Refi Loan Trust, |
||||||||
Series 2019-D, Class A2B, (CME Term SOFR 1 Month + 1.16%), 6.50%, 12/15/2059 (e) (aa) | 293 | 290 | ||||||
Series 2019-GA, Class A, 2.40%, 10/15/2068 (e) | 150 | 138 | ||||||
Series 2021-DA, Class A, (Prime Rate -1.99%), 6.51%, 04/15/2060 (e) (aa) | 364 | 349 | ||||||
Navient Student Loan Trust, Series 2019-BA, Class A2B, (CME Term SOFR 1 Month + 1.09%), 6.43%, 12/15/2059 (e) (aa) | 212 | 210 | ||||||
Nelnet Student Loan Trust, |
||||||||
Series 2019-2A, Class A, (United States 30 Day Average SOFR + 1.01%), 6.33%, 06/27/2067 (e) (aa) | 704 | 697 | ||||||
Series 2021-CA, Class AFL, (CME Term SOFR 1 Month + 0.85%), 6.18%, 04/20/2062 (e) (aa) | 878 | 863 | ||||||
Neuberger Berman Loan Advisers CLO 26 Ltd., (Cayman Islands), Series 2017-26A, Class AR, (CME Term SOFR 3 Month + 1.18%), 6.49%, 10/18/2030 (e) (aa) | 1,851 | 1,842 | ||||||
Nissan Auto Lease Trust, Series 2022-A, Class A2A, 3.45%, 08/15/2024 | 420 | 419 | ||||||
OneMain Direct Auto Receivables Trust, Series 2022-1A, Class A2, (United States 30 Day Average SOFR + 1.60%), 6.91%, 03/14/2029 (e) (aa) | 835 | 838 | ||||||
OneMain Financial Issuance Trust, Series 2023-2A, Class A2, (United States 30 Day Average SOFR + 1.50%), 6.81%, 09/15/2036 (e) (aa) | 1,652 | 1,649 | ||||||
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e) | 91 | 90 | ||||||
Palmer Square CLO Ltd., (Cayman Islands), Series 2013-2A, Class A1A3, (CME Term SOFR 3 Month + 1.26%), 6.57%, 10/17/2031 (e) (aa) | 250 | 249 | ||||||
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (CME Term SOFR 1 Month + 0.91%), 6.23%, 07/25/2035 (aa) | 412 | 406 | ||||||
Pawnee Equipment Receivables LLC, |
||||||||
Series 2021-1, Class A2, 1.10%, 07/15/2027 (e) | 414 | 402 | ||||||
Series 2022-1, Class A2, 4.84%, 02/15/2028 (e) | 378 | 377 | ||||||
PCL Funding VI plc, (United Kingdom), Series 2022-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.40%), 6.60%, 07/15/2026 (aa) | GBP | 723 | 883 | |||||
PRET LLC, |
||||||||
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e) | 620 | 574 | ||||||
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e) | 331 | 315 | ||||||
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e) | 212 | 200 | ||||||
Prodigy Finance DAC, (Ireland), Series 2021-1A, Class A, (CME Term SOFR 1 Month + 1.36%), 6.68%, 07/25/2051 (e) (aa) | 71 | 70 | ||||||
Red & Black Auto Germany UG, (Germany), |
||||||||
Series 8, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 4.43%, 09/15/2030 (aa) | EUR | 150 | 157 | |||||
Series 10, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.20%), 5.07%, 09/15/2032 (w) (aa) | EUR | 100 | 106 | |||||
Red & Black Auto Italy Srl, (Italy), |
||||||||
Series 1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.54%, 12/28/2031 (aa) | EUR | 680 | 719 | |||||
Series 2, Class A1, Reg. S, (ICE LIBOR EUR 1 Month + 1.00%), 0.00%, 07/28/2034 (w) (aa) | EUR | 848 | 897 | |||||
Series 2, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.80%), 0.00%, 07/28/2034 (w) (aa) | EUR | 112 | 118 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued |
||||||||
Rockford Tower CLO Ltd., (Cayman Islands), Series 2017-3A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.78%, 10/20/2030 (e) (aa) | 235 | 235 | ||||||
RR 3 Ltd., (Cayman Islands), Series 2018-3A, Class A1R2, (CME Term SOFR 3 Month + 1.35%), 6.66%, 01/15/2030 (e) (aa) | 900 | 898 | ||||||
Santander Drive Auto Receivables Trust, Series 2023-4, Class A2, 6.18%, 02/16/2027 | 4,100 | 4,104 | ||||||
SC Germany SA Compartment Consumer, (Luxembourg), Series 2020-1, Class C, Reg. S, (ICE LIBOR EUR 1 Month + 1.75%), 5.45%, 11/14/2034 (aa) | EUR | 192 | 202 | |||||
SLM Student Loan Trust, Series 2004-10, Class A7B, (United States 90 Day Average SOFR + 0.86%), 5.92%, 10/25/2029 (e) (aa) | 461 | 459 | ||||||
SMB Private Education Loan Trust, |
||||||||
Series 2016-B, Class A2B, (CME Term SOFR 1 Month + 1.56%), 6.90%, 02/17/2032 (e) (aa) | 316 | 316 | ||||||
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e) | 219 | 213 | ||||||
Series 2017-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.35%, 09/15/2034 (e) (aa) | 797 | 794 | ||||||
Series 2020-A, Class A2B, (CME Term SOFR 1 Month + 0.94%), 6.28%, 09/15/2037 (e) (aa) | 492 | 486 | ||||||
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e) | 376 | 333 | ||||||
Series 2021-A, Class A2A1, (CME Term SOFR 1 Month + 0.84%), 6.18%, 01/15/2053 (e) (aa) | 1,689 | 1,662 | ||||||
Series 2021-D, Class A1B, (CME Term SOFR 1 Month + 0.71%), 6.05%, 03/17/2053 (e) (aa) | 182 | 178 | ||||||
Series 2022-B, Class A1B, (United States 30 Day Average SOFR + 1.45%), 6.76%, 02/16/2055 (e) (aa) | 1,628 | 1,616 | ||||||
Series 2022-C, Class A1B, (United States 30 Day Average SOFR + 1.85%), 7.16%, 05/16/2050 (e) (aa) | 234 | 236 | ||||||
Series 2022-D, Class A1B, (United States 30 Day Average SOFR + 1.80%), 7.11%, 10/15/2058 (e) (aa) | 2,412 | 2,429 | ||||||
Series 2023-A, Class A1A, 5.38%, 01/15/2053 (e) | 182 | 177 | ||||||
Symphony CLO XXIV Ltd., (Cayman Islands), Series 2020-24A, Class A, (CME Term SOFR 3 Month + 1.46%), 6.81%, 01/23/2032 (e) (aa) | 700 | 698 | ||||||
Synchrony Card Funding LLC, Series 2023-A1, Class A, 5.54%, 07/15/2029 | 1,000 | 998 | ||||||
TAGUS - Sociedade de Titularizacao de Creditos SA / Viriato Finance No. 1, (Portugal), Series 1, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.95%), 4.79%, 10/28/2040 (aa) | EUR | 348 | 363 | |||||
TCI-Symphony CLO Ltd., (Cayman Islands), Series 2016-1A, Class AR2, (CME Term SOFR 3 Month + 1.28%), 6.58%, 10/13/2032 (e) (aa) | 265 | 263 | ||||||
Tesla Auto Lease Trust, Series 2023-B, Class A2, 6.02%, 09/22/2025 (e) | 500 | 500 | ||||||
Towd Point Asset Trust, Series 2021-SL1, Class A2, (CME Term SOFR 1 Month + 0.81%), 6.14%, 11/20/2061 (e) (aa) | 157 | 155 | ||||||
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e) | 1,500 | 1,393 | ||||||
Toyota Auto Receivables Owner Trust, |
||||||||
Series 2022-C, Class A2A, 3.83%, 08/15/2025 | 861 | 855 | ||||||
Series 2022-C, Class A2B, (United States 30 Day Average SOFR + 0.57%), 5.88%, 08/15/2025 (aa) | 1,149 | 1,149 | ||||||
Series 2023-C, Class A2A, 5.60%, 08/17/2026 | 500 | 499 | ||||||
Toyota Lease Owner Trust, Series 2023-B, Class A2A, 5.73%, 04/20/2026 (e) | 1,100 | 1,100 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued |
||||||||
Trillium Credit Card Trust II, (Canada), Series 2023-3A, Class A, (United States SOFR + 0.85%), 6.17%, 08/28/2028 (e) (aa) | 1,700 | 1,701 | ||||||
Venture XVIII CLO Ltd., (Cayman Islands), Series 2014-18A, Class AR, (CME Term SOFR 3 Month + 1.48%), 6.79%, 10/15/2029 (e) (aa) | 1,441 | 1,441 | ||||||
Volkswagen Auto Lease Trust, |
||||||||
Series 2022-A, Class A2, 3.02%, 10/21/2024 | 910 | 907 | ||||||
Series 2023-A, Class A2A, 5.87%, 01/20/2026 | 800 | 800 | ||||||
Volkswagen Auto Loan Enhanced Trust, Series 2023-1, Class A2A, 5.50%, 12/21/2026 | 1,000 | 997 | ||||||
Voya CLO Ltd., (Cayman Islands), Series 2018-3A, Class A1A, (CME Term SOFR 3 Month + 1.41%), 6.72%, 10/15/2031 (e) (aa) | 1,150 | 1,147 | ||||||
VOYA CLO, (Cayman Islands), Series 2017-2A, Class A1R, (CME Term SOFR 3 Month + 1.24%), 6.55%, 06/07/2030 (e) (aa) | 207 | 207 | ||||||
Westlake Automobile Receivables Trust, Series 2021-3A, Class A3, 0.95%, 06/16/2025 (e) | 516 | 513 | ||||||
Wind River CLO Ltd., (Cayman Islands), Series 2013-1A, Class A1RR, (CME Term SOFR 3 Month + 1.24%), 6.57%, 07/20/2030 (e) (aa) | 138 | 138 | ||||||
World Omni Auto Receivables Trust, |
||||||||
Series 2023-A, Class A2A, 5.18%, 07/15/2026 | 637 | 634 | ||||||
Series 2023-B, Class A2A, 5.25%, 11/16/2026 | 1,000 | 996 | ||||||
|
|
|||||||
Total Asset-Backed Securities (Cost $123,821) |
122,773 | |||||||
|
|
|||||||
Collateralized Mortgage Obligations 3.3% |
||||||||
Avon Finance, (United Kingdom), Series 4A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 0.00%, 12/28/2049 (e) (aa) | GBP | 800 | 970 | |||||
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 08/20/2045 (aa) | GBP | 398 | 484 | |||||
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z) | 294 | 273 | ||||||
Dutch Property Finance BV, (Netherlands), Series 2022-1, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 4.46%, 10/28/2059 (aa) | EUR | 769 | 813 | |||||
Economic Master Issuer plc, (United Kingdom), Series 2023-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.56%), 5.76%, 06/25/2074 (aa) | GBP | 285 | 349 | |||||
FNMA REMICS, |
||||||||
Series 2020-29, Class FC, (United States 30 Day Average SOFR + 0.91%), 4.97%, 05/25/2050 (aa) | 1,383 | 1,376 | ||||||
Series 2022-8, Class D, 2.00%, 08/25/2038 | 1,295 | 1,150 | ||||||
Friary No. 7 plc, (United Kingdom), Series 7, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.67%), 5.83%, 10/21/2070 (aa) | GBP | 221 | 271 | |||||
GNMA, |
||||||||
Series 2015-H04, Class FA, (CME Term SOFR 1 Month + 0.76%), 4.30%, 12/20/2064 (aa) | 1,017 | 1,006 | ||||||
Series 2017-121, Class PE, 3.00%, 07/20/2046 | 144 | 135 | ||||||
Series 2018-H18, Class FC, (CME Term SOFR 1 Month + 0.46%), 5.78%, 08/20/2065 (aa) | 712 | 708 | ||||||
Series 2019-54, Class KF, (CME Term SOFR 1 Month + 0.53%), 5.86%, 05/20/2044 (aa) | 322 | 305 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Collateralized Mortgage Obligations continued |
||||||||
Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 6.81%, 06/20/2071 (aa) | 1,391 | 1,422 | ||||||
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 3.50%, 01/20/2052 (aa) | 885 | 764 | ||||||
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 5.66%, 01/20/2072 (aa) | 685 | 661 | ||||||
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.21%, 01/20/2073 (aa) | 511 | 510 | ||||||
Series 2023-H12, Class FA, (United States 30 Day Average SOFR + 1.00%), 6.31%, 05/20/2073 (aa) | 1,712 | 1,717 | ||||||
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z) | 291 | 260 | ||||||
Holmes Master Issuer plc, (United Kingdom), Series 2023-1X, Class A1, Reg. S, (SONIA Interest Rate Benchmark + 0.58%), 5.73%, 10/15/2072 (aa) | GBP | 666 | 817 | |||||
Hops Hill No. 1 Plc, (United Kingdom), Series 1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.95%), 6.15%, 05/27/2054 (aa) | GBP | 384 | 469 | |||||
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e) | 1,140 | 1,062 | ||||||
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z) | 337 | 290 | ||||||
New Residential Mortgage Loan Trust, |
||||||||
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z) | 103 | 96 | ||||||
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z) | 283 | 252 | ||||||
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z) | 482 | 425 | ||||||
Resimac Bastille Trust Series, (Australia), Series 2021-2NCA, Class A1A, (CME Term SOFR 1 Month + 0.76%), 6.09%, 02/03/2053 (e) (aa) | 20 | 20 | ||||||
Silverstone Master Issuer plc, (United Kingdom), |
||||||||
Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 5.69%, 01/21/2070 (e) (aa) | 553 | 552 | ||||||
Series 2022-1X, Class 2A, Reg. S, (SONIA Interest Rate Benchmark + 0.29%), 5.45%, 01/21/2070 (aa) | GBP | 550 | 669 | |||||
Starwood Mortgage Residential Trust, |
||||||||
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z) | 184 | 169 | ||||||
Series 2020-INV1, Class A1, 1.03%, 11/25/2055 (e) (z) | 113 | 99 | ||||||
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z) | 244 | 215 | ||||||
Stratton Mortgage Funding, (United Kingdom), Series 2021-2A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.06%, 07/20/2060 (e) (aa) | GBP | 123 | 150 | |||||
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 1.35%), 6.51%, 07/20/2045 (e) (aa) | GBP | 499 | 608 | |||||
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (CME Term SOFR 1 Month + 1.11%), 6.43%, 05/25/2058 (e) (aa) | 247 | 249 | ||||||
|
|
|||||||
Total Collateralized Mortgage Obligations (Cost $20,209) |
19,316 | |||||||
|
|
|||||||
Commercial Mortgage-Backed Securities 4.0% |
||||||||
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (CME Term SOFR 1 Month + 0.93%), 6.51%, 09/15/2034 (e) (aa) | 500 | 486 | ||||||
AREIT Trust, (Cayman Islands), Series 2021-CRE5, Class A, (CME Term SOFR 1 Month + 1.19%), 6.53%, 11/17/2038 (e) (aa) | 465 | 457 | ||||||
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (CME Term SOFR 1 Month + 1.17%), 6.51%, 06/15/2035 (e) (aa) | 639 | 632 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities continued |
||||||||
BAMLL Commercial Mortgage Securities Trust, |
||||||||
Series 2018-DSNY, Class A, (CME Term SOFR 1 Month + 0.90%), 6.48%, 09/15/2034 (e) (aa) | 853 | 849 | ||||||
Series 2019-RLJ, Class A, (CME Term SOFR 1 Month + 1.10%), 6.43%, 04/15/2036 (e) (aa) | 400 | 397 | ||||||
BDS LLC, Series 2022-FL12, Class A, (CME Term SOFR 1 Month + 2.14%), 7.46%, 08/19/2038 (e) (aa) | 700 | 696 | ||||||
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.70%, 09/15/2036 (e) (aa) | 500 | 468 | ||||||
CEDR Commercial Mortgage Trust, Series 2022-SNAI, Class A, (CME Term SOFR 1 Month + 0.99%), 6.32%, 02/15/2039 (e) (aa) | 530 | 484 | ||||||
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058 | 601 | 577 | ||||||
Citigroup Commercial Mortgage Trust, |
||||||||
Series 2019-SMRT, Class A, 4.15%, 01/10/2036 (e) | 1,595 | 1,592 | ||||||
Series 2021-KEYS, Class A, (CME Term SOFR 1 Month + 1.29%), 6.63%, 10/15/2036 (e) (aa) | 900 | 881 | ||||||
COMM Mortgage Trust, |
||||||||
Series 2014-UBS2, Class ASB, 3.47%, 03/10/2047 | 113 | 113 | ||||||
Series 2014-UBS3, Class A4, 3.82%, 06/10/2047 | 1,600 | 1,569 | ||||||
Series 2015-LC19, Class ASB, 3.04%, 02/10/2048 | 139 | 136 | ||||||
CSMC, |
||||||||
Series 2021-BHAR, Class A, (CME Term SOFR 1 Month + 1.26%), 6.60%, 11/15/2038 (e) (aa) | 974 | 962 | ||||||
Series 2022-NWPT, Class A, (CME Term SOFR 1 Month + 3.14%), 8.48%, 09/09/2024 (e) (aa) | 116 | 117 | ||||||
DBGS Mortgage Trust, Series 2018-BIOD, Class A, (CME Term SOFR 1 Month + 1.10%), 6.43%, 05/15/2035 (e) (aa) | 1,188 | 1,182 | ||||||
ILPT Commercial Mortgage Trust, Series 2022-LPF2, Class A, (CME Term SOFR 1 Month + 2.25%), 7.58%, 10/15/2039 (e) (aa) | 480 | 479 | ||||||
INTOWN Mortgage Trust, Series 2022-STAY, Class A, (CME Term SOFR 1 Month + 2.49%), 7.82%, 08/15/2039 (e) (aa) | 1,250 | 1,252 | ||||||
Life Mortgage Trust, Series 2021-BMR, Class A, (CME Term SOFR 1 Month + 0.81%), 6.15%, 03/15/2038 (e) (aa) | 295 | 289 | ||||||
LUX, Series 2023-LION, Class A, (CME Term SOFR 1 Month + 2.69%), 8.02%, 08/15/2028 (e) (aa) | 185 | 186 | ||||||
MF1X, Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 6.40%, 12/15/2034 (e) (aa) | 1,130 | 1,104 | ||||||
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (CME Term SOFR 1 Month + 1.11%), 6.45%, 05/15/2036 (e) (aa) | 700 | 650 | ||||||
MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, (CME Term SOFR 1 Month + 1.40%), 6.74%, 03/15/2039 (e) (aa) | 1,100 | 1,086 | ||||||
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 7.16%, 03/15/2035 (e) (aa) | 740 | 739 | ||||||
Sage AR Funding No. 1 plc, (United Kingdom), Series 1A, Class A, (SONIA Interest Rate Benchmark + 1.25%), 6.47%, 11/17/2030 (e) (aa) | GBP | 800 | 959 | |||||
SMRT, Series 2022-MINI, Class A, (CME Term SOFR 1 Month + 1.00%), 6.33%, 01/15/2039 (e) (aa) | 350 | 341 | ||||||
SREIT Trust, Series 2021-IND, Class A, (CME Term SOFR 1 Month + 0.81%), 6.15%, 10/15/2038 (e) (aa) | 900 | 880 | ||||||
Taubman Centers Commercial Mortgage Trust, Series 2022-DPM, Class A, (CME Term SOFR 1 Month + 2.19%), 7.52%, 05/15/2037 (e) (aa) | 745 | 730 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities continued |
||||||||
Taurus UK DAC, (Ireland), Series 2019-UK2, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.32%), 6.54%, 11/17/2029 (aa) | GBP | 950 | 1,144 | |||||
Vita Scientia DAC, (Ireland), Series 2022-1X, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 1.30%), 5.08%, 02/27/2033 (aa) | EUR | 1,000 | 1,023 | |||||
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS2, Class A2, 3.02%, 07/15/2058 | 98 | 94 | ||||||
WFRBS Commercial Mortgage Trust, Series 2013-C18, Class A5, 4.16%, 12/15/2046 (z) | 1,250 | 1,241 | ||||||
|
|
|||||||
Total Commercial Mortgage-Backed Securities (Cost $24,460) |
23,795 | |||||||
|
|
|||||||
Corporate Bonds 48.9% |
||||||||
Basic Materials 0.3% |
||||||||
Chemicals 0.3% |
||||||||
DuPont de Nemours, Inc., (CME Term SOFR 3 Month + 1.37%), 6.74%, 11/15/2023 (aa) | 1,500 | 1,501 | ||||||
|
|
|||||||
Communications 3.5% |
||||||||
Media 1.0% |
||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital, | ||||||||
4.50%, 02/01/2024 | 2,000 | 1,989 | ||||||
(CME Term SOFR 3 Month + 1.91%), 7.28%, 02/01/2024 (aa) | 4,000 | 4,014 | ||||||
|
|
|||||||
6,003 | ||||||||
|
|
|||||||
Telecommunications 2.5% |
||||||||
AT&T, Inc., (CME Term SOFR 3 Month + 1.44%), 6.85%, 06/12/2024 (aa) | 5,300 | 5,331 | ||||||
British Telecommunications plc, (United Kingdom), 4.50%, 12/04/2023 | 400 | 399 | ||||||
NTT Finance Corp., (Japan), 4.14%, 07/26/2024 (e) | 370 | 365 | ||||||
Rogers Communications, Inc., (Canada), 2.95%, 03/15/2025 | 3,750 | 3,576 | ||||||
Verizon Communications, Inc., (SOFR Compounded Index + 0.50%), 5.84%, 03/22/2024 (aa) | 5,000 | 5,003 | ||||||
|
|
|||||||
14,674 | ||||||||
|
|
|||||||
Total Communications | 20,677 | |||||||
|
|
|||||||
Consumer Cyclical 5.7% |
||||||||
Auto Manufacturers 5.2% |
||||||||
American Honda Finance Corp., 0.55%, 07/12/2024 | 1,070 | 1,029 | ||||||
BMW US Capital LLC, |
||||||||
(SOFR Compounded Index + 0.38%), 5.72%, 08/12/2024 (e) (aa) | 2,130 | 2,128 | ||||||
(SOFR Compounded Index + 0.84%), 6.19%, 04/01/2025 (e) (aa) | 1,100 | 1,106 | ||||||
Daimler Truck Finance North America LLC, | ||||||||
1.13%, 12/14/2023 (e) |
1,000 | 990 | ||||||
5.20%, 01/17/2025 (e) | 2,000 | 1,982 | ||||||
General Motors Financial Co., Inc., | ||||||||
1.05%, 03/08/2024 |
2,059 | 2,013 | ||||||
3.50%, 11/07/2024 | 1,000 | 971 | ||||||
(United States SOFR + 0.76%), 6.10%, 03/08/2024 (aa) | 1,000 | 1,000 | ||||||
Hyundai Capital America, | ||||||||
1.00%, 09/17/2024 (e) |
2,425 | 2,310 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Auto Manufacturers continued |
||||||||
(United States SOFR + 1.15%), 6.49%, 08/04/2025 (e) (aa) | 1,100 | 1,100 | ||||||
Mercedes-Benz Finance North America LLC, 0.75%, 03/01/2024 (e) | 3,750 | 3,671 | ||||||
Nissan Motor Acceptance Co. LLC, 1.13%, 09/16/2024 (e) | 2,600 | 2,468 | ||||||
Toyota Motor Credit Corp., |
||||||||
(SOFR Compounded Index + 0.33%), 5.61%, 01/11/2024 (aa) | 2,000 | 1,999 | ||||||
(United States SOFR + 0.65%), 5.99%, 09/11/2025 (aa) | 1,000 | 1,002 | ||||||
(SOFR Compounded Index + 0.65%), 6.00%, 12/29/2023 (aa) | 2,100 | 2,102 | ||||||
Volkswagen Group of America Finance LLC, | ||||||||
0.88%, 11/22/2023 (e) |
1,800 | 1,788 | ||||||
4.25%, 11/13/2023 (e) | 2,090 | 2,086 | ||||||
5.80%, 09/12/2025 (e) | 221 | 220 | ||||||
(United States SOFR + 0.93%), 6.27%, 09/12/2025 (e) (aa) | 1,000 | 1,001 | ||||||
|
|
|||||||
30,966 | ||||||||
|
|
|||||||
Home Builders 0.1% |
||||||||
Lennar Corp., 4.50%, 04/30/2024 | 500 | 495 | ||||||
|
|
|||||||
Retail 0.4% |
||||||||
7-Eleven, Inc., 0.80%, 02/10/2024 (e) |
2,174 | 2,132 | ||||||
|
|
|||||||
Total Consumer Cyclical | 33,593 | |||||||
|
|
|||||||
Consumer Non-cyclical 7.0% |
||||||||
Agriculture 0.5% |
||||||||
Altria Group, Inc., 3.80%, 02/14/2024 | 1,500 | 1,488 | ||||||
BAT Capital Corp., 3.22%, 08/15/2024 | 580 | 565 | ||||||
Imperial Brands Finance plc, (United Kingdom), 3.13%, 07/26/2024 (e) | 1,100 | 1,072 | ||||||
|
|
|||||||
3,125 | ||||||||
|
|
|||||||
Beverages 0.1% |
||||||||
JDE Peets NV, (Netherlands), 0.80%, 09/24/2024 (e) | 400 | 380 | ||||||
|
|
|||||||
Biotechnology 1.1% |
||||||||
Amgen, Inc., 5.25%, 03/02/2025 | 2,935 | 2,913 | ||||||
Gilead Sciences, Inc., 3.70%, 04/01/2024 | 3,500 | 3,462 | ||||||
|
|
|||||||
6,375 | ||||||||
|
|
|||||||
Commercial Services 0.1% |
||||||||
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 6.17%, 12/16/2024 (aa) | AUD | 700 | 454 | |||||
|
|
|||||||
Cosmetics/Personal Care 0.3% |
||||||||
Haleon US Capital LLC, 3.02%, 03/24/2024 | 1,800 | 1,774 | ||||||
|
|
|||||||
Food 0.9% |
||||||||
General Mills, Inc., | ||||||||
3.65%, 02/15/2024 |
2,345 | 2,324 | ||||||
(CME Term SOFR 3 Month + 1.27%), 6.58%, 10/17/2023 (aa) | 1,797 | 1,798 | ||||||
J M Smucker Co. (The), 3.50%, 03/15/2025 | 1,000 | 968 | ||||||
|
|
|||||||
5,090 | ||||||||
|
|
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Healthcare - Products 0.5% |
||||||||
Baxter International, Inc., 0.87%, 12/01/2023 | 1,000 | 992 | ||||||
Stryker Corp., 0.60%, 12/01/2023 | 1,330 | 1,318 | ||||||
Thermo Fisher Scientific, Inc., | ||||||||
1.22%, 10/18/2024 | 850 | 811 | ||||||
|
|
|||||||
3,121 | ||||||||
|
|
|||||||
Healthcare - Services 0.6% |
||||||||
HCA, Inc., 5.00%, 03/15/2024 | 3,800 | 3,780 | ||||||
|
|
|||||||
Pharmaceuticals 2.9% |
||||||||
AbbVie, Inc., |
||||||||
2.60%, 11/21/2024 |
6,000 | 5,786 | ||||||
3.60%, 05/14/2025 | 1,000 | 967 | ||||||
Bayer US Finance II LLC, | ||||||||
3.88%, 12/15/2023 (e) |
5,195 | 5,173 | ||||||
(CME Term SOFR 3 Month + 1.27%), 6.68%, 12/15/2023 (e) (aa) | 2,700 | 2,701 | ||||||
CVS Health Corp., 4.00%, 12/05/2023 | 600 | 598 | ||||||
Pfizer Investment Enterprises Pte Ltd., (Singapore), 4.65%, 05/19/2025 | 1,600 | 1,578 | ||||||
Takeda Pharmaceutical Co. Ltd., (Japan), 4.40%, 11/26/2023 | 200 | 199 | ||||||
|
|
|||||||
17,002 | ||||||||
|
|
|||||||
Total Consumer Non-cyclical | 41,101 | |||||||
|
|
|||||||
Energy 1.9% |
||||||||
Oil & Gas 0.3% |
||||||||
Phillips 66, 0.90%, 02/15/2024 | 1,800 | 1,766 | ||||||
|
|
|||||||
Pipelines 1.6% |
||||||||
Enbridge, Inc., (Canada), |
||||||||
0.55%, 10/04/2023 |
220 | 220 | ||||||
2.15%, 02/16/2024 | 720 | 710 | ||||||
4.00%, 10/01/2023 | 1,750 | 1,750 | ||||||
Kinder Morgan, Inc., 5.63%, 11/15/2023 (e) | 500 | 499 | ||||||
Sabine Pass Liquefaction LLC, 5.63%, 03/01/2025 | 2,900 | 2,882 | ||||||
Williams Cos., Inc. (The), | ||||||||
4.30%, 03/04/2024 |
1,500 | 1,489 | ||||||
4.55%, 06/24/2024 | 2,000 | 1,978 | ||||||
|
|
|||||||
9,528 | ||||||||
|
|
|||||||
Total Energy | 11,294 | |||||||
|
|
|||||||
Financial 19.5% |
||||||||
Banks 16.8% |
||||||||
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024 | 1,000 | 949 | ||||||
Australia & New Zealand Banking Group Ltd., (Australia), 5.67%, 10/03/2025 (w) | 2,067 | 2,068 | ||||||
Banco Santander SA, (Spain), | ||||||||
3.89%, 05/24/2024 |
500 | 493 | ||||||
(CMT Index 1 Year + 0.45%), 5.74%, 06/30/2024 (aa) | 400 | 399 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Bank of America Corp., |
||||||||
(Canada Bankers Acceptances 3 Month + 0.90%), 2.93%, 04/25/2025 (aa) | CAD | 1,400 | 1,013 | |||||
(United States SOFR + 1.75%), 4.83%, 07/22/2026 (aa) | 4,000 | 3,900 | ||||||
(United States SOFR + 1.29%), 5.08%, 01/20/2027 (aa) | 1,300 | 1,271 | ||||||
(United States SOFR + 1.10%), 6.42%, 04/25/2025 (aa) | 600 | 601 | ||||||
Bank of Montreal, (Canada), Series H, 4.25%, 09/14/2024 | 2,000 | 1,966 | ||||||
Bank of Nova Scotia (The), (Canada), Series FRN, (SOFR Compounded Index + 0.45%), 5.75%, 04/15/2024 (aa) | 500 | 500 | ||||||
Banque Federative du Credit Mutuel SA, (France), |
||||||||
Reg. S, 1.00%, 02/04/2025 |
500 | 466 | ||||||
5.90%, 07/13/2026 (e) | 1,300 | 1,293 | ||||||
Barclays plc, (United Kingdom), |
||||||||
(CMT Index 1 Year + 0.80%), 1.01%, 12/10/2024 (aa) | 1,000 | 989 | ||||||
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa) | 700 | 689 | ||||||
BNP Paribas SA, (France), | ||||||||
3.80%, 01/10/2024 (e) |
600 | 596 | ||||||
Reg. S, 3.80%, 01/10/2024 | 200 | 199 | ||||||
(CME Term SOFR 3 Month + 2.50%), 4.71%, 01/10/2025 (e) (aa) | 800 | 796 | ||||||
BPCE SA, (France), | ||||||||
4.00%, 04/15/2024 |
700 | 692 | ||||||
Reg. S, (United States SOFR + 0.57%), 5.87%, 01/14/2025 (aa) | 700 | 697 | ||||||
(United States SOFR + 0.96%), 6.30%, 09/25/2025 (e) (aa) | 2,140 | 2,142 | ||||||
Citibank NA, 5.86%, 09/29/2025 | 2,068 | 2,070 | ||||||
Citigroup, Inc., |
||||||||
(United States SOFR + 0.69%), 2.01%, 01/25/2026 (aa) | 4,250 | 4,014 | ||||||
(BBSW ASX Australian 3 Month + 1.72%), 6.00%, 10/27/2023 (aa) | AUD | 1,000 | 643 | |||||
(United States SOFR + 1.37%), 6.71%, 05/24/2025 (aa) | 2,000 | 2,008 | ||||||
Credit Suisse AG, (Switzerland), | ||||||||
0.50%, 02/02/2024 |
2,700 | 2,647 | ||||||
3.63%, 09/09/2024 | 300 | 292 | ||||||
Danske Bank A/S, (Denmark), Reg. S, 5.38%, 01/12/2024 | 1,200 | 1,196 | ||||||
Deutsche Bank AG, (Germany), | ||||||||
0.90%, 05/28/2024 |
2,100 | 2,027 | ||||||
(United States SOFR + 1.13%), 1.45%, 04/01/2025 (aa) |
1,700 | 1,653 | ||||||
3.70%, 05/30/2024 | 1,700 | 1,665 | ||||||
DNB Bank ASA, (Norway), (SOFR Compounded Index + 0.83%), 6.18%, 03/28/2025 (e) (aa) | 1,295 | 1,295 | ||||||
Federation des Caisses Desjardins du Quebec, (Canada), | ||||||||
0.70%, 05/21/2024 (e) |
1,000 | 967 | ||||||
2.05%, 02/10/2025 (e) | 500 | 473 | ||||||
(United States SOFR + 0.43%), 5.77%, 05/21/2024 (e) (aa) | 1,900 | 1,898 | ||||||
First Abu Dhabi Bank PJSC, (United Arab Emirates), (BBSW ASX Australian 3 Month + 1.10%), 5.25%, 02/18/2025 (aa) | AUD | 700 | 449 | |||||
Goldman Sachs Group, Inc. (The), |
||||||||
(United States SOFR + 0.73%), 1.76%, 01/24/2025 (aa) |
2,000 | 1,968 | ||||||
5.70%, 11/01/2024 | 2,000 | 1,992 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
(United States SOFR + 0.49%), 5.81%, 10/21/2024 (aa) | 900 | 898 | ||||||
(United States SOFR + 0.50%), 5.84%, 09/10/2024 (aa) | 2,500 | 2,495 | ||||||
(United States SOFR + 1.39%), 6.73%, 03/15/2024 (aa) | 800 | 803 | ||||||
HSBC Holdings plc, (United Kingdom), |
||||||||
(United States SOFR + 0.58%), 5.92%, 11/22/2024 (aa) | 620 | 620 | ||||||
(CME Term SOFR 3 Month + 1.49%), 6.90%, 03/11/2025 (aa) | 1,000 | 1,002 | ||||||
HSBC USA, Inc., 5.63%, 03/17/2025 | 1,500 | 1,491 | ||||||
ING Groep NV, (Netherlands), | ||||||||
3.55%, 04/09/2024 |
700 | 691 | ||||||
(ICE LIBOR USD 3 Month + 1.00%), 6.53%, 10/02/2023 (aa) | 1,000 | 1,000 | ||||||
Lloyds Banking Group plc, (United Kingdom), 4.45%, 05/08/2025 | 1,800 | 1,750 | ||||||
Mitsubishi UFJ Financial Group, Inc., (Japan), |
||||||||
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa) | 700 | 692 | ||||||
(United States SOFR + 1.65%), 6.96%, 07/18/2025 (aa) | 1,300 | 1,307 | ||||||
Mizuho Financial Group, Inc., (Japan), (CME Term SOFR 3 Month + 1.24%), 2.84%, 07/16/2025 (aa) | 800 | 778 | ||||||
Morgan Stanley, |
||||||||
(United States SOFR + 0.51%), 0.79%, 01/22/2025 (aa) | 500 | 490 | ||||||
(United States SOFR + 0.56%), 1.16%, 10/21/2025 (aa) | 1,400 | 1,322 | ||||||
(United States SOFR + 0.46%), 5.79%, 01/25/2024 (aa) | 5,200 | 5,199 | ||||||
Morgan Stanley Bank NA, 5.48%, 07/16/2025 | 1,465 | 1,460 | ||||||
NatWest Group plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.76%), 4.27%, 03/22/2025 (aa) | 725 | 717 | ||||||
NatWest Markets plc, (United Kingdom), 3.48%, 03/22/2025 (e) | 1,825 | 1,760 | ||||||
Oversea-Chinese Banking Corp. Ltd., (Singapore), |
||||||||
(BBSW ASX Australian 3 Month + 0.26%), 4.43%, 08/12/2024 (aa) | AUD | 1,000 | 642 | |||||
(BBSW ASX Australian 3 Month + 0.35%), 4.47%, 03/18/2024 (f) (aa) | AUD | 1,000 | 643 | |||||
Royal Bank of Canada, (Canada), 5.66%, 10/25/2024 |
980 | 977 | ||||||
(SOFR Compounded Index + 1.08%), 6.40%, 07/20/2026 (aa) | 2,000 | 2,001 | ||||||
Santander UK Group Holdings plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.57%), 4.80%, 11/15/2024 (aa) | 1,100 | 1,098 | ||||||
Skandinaviska Enskilda Banken AB, (Sweden), 1.40%, 11/19/2025 (e) | 1,900 | 1,727 | ||||||
Societe Generale SA, (France), | ||||||||
2.63%, 01/22/2025 (e) |
800 | 761 | ||||||
3.88%, 03/28/2024 (e) | 700 | 691 | ||||||
Standard Chartered plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa) | 1,600 | 1,571 | ||||||
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 5.54%, 10/16/2024 (aa) | AUD | 2,300 | 1,482 | |||||
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e) | 200 | 190 | ||||||
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e) | 2,400 | 2,390 | ||||||
Toronto-Dominion Bank (The), (Canada), | ||||||||
3.25%, 03/11/2024 |
1,200 | 1,186 | ||||||
4.29%, 09/13/2024 | 2,000 | 1,968 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
UBS AG, (Switzerland), |
||||||||
Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 5.13%, 07/30/2025 (aa) | AUD | 2,100 | 1,346 | |||||
(United States SOFR + 0.36%), 5.70%, 02/09/2024 (e) (aa) | 1,000 | 1,000 | ||||||
(United States SOFR + 0.45%), 5.79%, 08/09/2024 (e) (aa) | 1,615 | 1,612 | ||||||
Wells Fargo & Co., 2.51%, 10/27/2023 (f) | CAD | 2,500 | 1,837 | |||||
Wells Fargo Bank NA, (United States SOFR + 0.80%), 6.14%, 08/01/2025 (aa) | 2,620 | 2,625 | ||||||
|
|
|||||||
99,198 | ||||||||
|
|
|||||||
Diversified Financial Services 2.5% |
||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), 4.88%, 01/16/2024 | 3,500 | 3,486 | ||||||
American Express Co., | ||||||||
3.40%, 02/22/2024 |
2,000 | 1,980 | ||||||
(United States SOFR + 0.93%), 6.27%, 03/04/2025 (aa) | 1,120 | 1,124 | ||||||
Capital One Financial Corp., (United States SOFR + 1.37%), 4.17%, 05/09/2025 (aa) | 2,700 | 2,650 | ||||||
Mitsubishi HC Capital, Inc., (Japan), 3.64%, 04/13/2025 (e) | 300 | 289 | ||||||
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025 | 1,900 | 1,758 | ||||||
ORIX Corp., (Japan), 3.25%, 12/04/2024 | 400 | 387 | ||||||
Synchrony Financial, 4.38%, 03/19/2024 | 2,750 | 2,716 | ||||||
|
|
|||||||
14,390 | ||||||||
|
|
|||||||
Insurance 0.1% |
||||||||
Marsh & McLennan Cos., Inc., 3.88%, 03/15/2024 | 713 | 706 | ||||||
|
|
|||||||
Savings & Loans 0.1% |
||||||||
Nationwide Building Society, (United Kingdom), 0.55%, 01/22/2024 (e) | 400 | 394 | ||||||
|
|
|||||||
Total Financial | 114,688 | |||||||
|
|
|||||||
Industrial 5.2% |
||||||||
Aerospace/Defense 1.4% |
||||||||
Boeing Co. (The), | ||||||||
1.43%, 02/04/2024 |
3,600 | 3,543 | ||||||
1.95%, 02/01/2024 | 3,000 | 2,958 | ||||||
Northrop Grumman Corp., 2.93%, 01/15/2025 | 2,000 | 1,929 | ||||||
|
|
|||||||
8,430 | ||||||||
|
|
|||||||
Electronics 0.3% |
||||||||
Arrow Electronics, Inc., 3.25%, 09/08/2024 | 1,800 | 1,751 | ||||||
|
|
|||||||
Machinery - Construction & Mining 0.5% |
||||||||
Caterpillar Financial Services Corp., |
||||||||
(United States SOFR + 0.45%), 5.79%, 11/13/2023 (aa) | 835 | 835 | ||||||
(United States SOFR + 0.52%), 5.86%, 06/13/2025 (aa) | 2,000 | 2,006 | ||||||
|
|
|||||||
2,841 | ||||||||
|
|
|||||||
Machinery - Diversified 0.4% |
||||||||
John Deere Capital Corp., 5.15%, 03/03/2025 | 2,600 | 2,593 | ||||||
|
|
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Miscellaneous Manufacturers 0.9% |
||||||||
Parker-Hannifin Corp., 3.65%, 06/15/2024 | 5,100 | 5,021 | ||||||
|
|
|||||||
Transportation 1.4% |
||||||||
Canadian Pacific Railway Co., (Canada), 1.35%, 12/02/2024 | 3,540 | 3,356 | ||||||
Ryder System, Inc., | ||||||||
3.65%, 03/18/2024 |
1,000 | 989 | ||||||
3.88%, 12/01/2023 | 2,000 | 1,993 | ||||||
Union Pacific Corp., 3.15%, 03/01/2024 | 2,000 | 1,979 | ||||||
|
|
|||||||
8,317 | ||||||||
|
|
|||||||
Trucking & Leasing 0.3% |
||||||||
Penske Truck Leasing Co. LP / PTL Finance Corp., 3.90%, 02/01/2024 (e) | 2,000 | 1,985 | ||||||
|
|
|||||||
Total Industrial | 30,938 | |||||||
|
|
|||||||
Technology 3.5% |
||||||||
Semiconductors 1.4% |
||||||||
Broadcom Corp. / Broadcom Cayman Finance Ltd., (Multinational), 3.63%, 01/15/2024 | 2,000 | 1,985 | ||||||
NXP BV / NXP Funding LLC, (Multinational), 4.88%, 03/01/2024 | 4,600 | 4,577 | ||||||
SK Hynix, Inc., (South Korea), | ||||||||
1.00%, 01/19/2024 (e) |
400 | 394 | ||||||
Reg. S, 1.00%, 01/19/2024 | 1,300 | 1,279 | ||||||
|
|
|||||||
8,235 | ||||||||
|
|
|||||||
Software 2.1% |
||||||||
Fidelity National Information Services, Inc., 0.60%, 03/01/2024 | 2,865 | 2,801 | ||||||
Fiserv, Inc., | ||||||||
2.75%, 07/01/2024 |
1,500 | 1,464 | ||||||
3.80%, 10/01/2023 | 3,415 | 3,415 | ||||||
Oracle Corp., | ||||||||
2.95%, 11/15/2024 |
1,000 | 969 | ||||||
2.95%, 05/15/2025 | 1,000 | 956 | ||||||
3.40%, 07/08/2024 | 1,625 | 1,594 | ||||||
VMware, Inc., 1.00%, 08/15/2024 | 1,500 | 1,437 | ||||||
|
|
|||||||
12,636 | ||||||||
|
|
|||||||
Total Technology | 20,871 | |||||||
|
|
|||||||
Utilities 2.3% |
||||||||
Electric 2.3% |
||||||||
American Electric Power Co., Inc., 2.03%, 03/15/2024 | 600 | 589 | ||||||
Ausgrid Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 1.22%), 5.48%, 10/30/2024 (aa) | AUD | 1,500 | 967 | |||||
Enel Finance International NV, (Netherlands), | ||||||||
2.65%, 09/10/2024 (e) |
1,500 | 1,451 | ||||||
4.25%, 06/15/2025 (e) | 300 | 292 | ||||||
Israel Electric Corp. Ltd., (Israel), Series 6, Reg. S, 5.00%, 11/12/2024 (e) | 800 | 789 | ||||||
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024 | 1,740 | 1,681 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued |
||||||||
NextEra Energy Capital Holdings, Inc., | ||||||||
2.94%, 03/21/2024 | 4,000 | 3,943 | ||||||
4.26%, 09/01/2024 | 1,175 | 1,156 | ||||||
Pacific Gas and Electric Co., | ||||||||
3.25%, 02/16/2024 |
500 | 494 | ||||||
3.40%, 08/15/2024 | 100 | 98 | ||||||
3.75%, 02/15/2024 | 100 | 99 | ||||||
3.85%, 11/15/2023 | 100 | 100 | ||||||
WEC Energy Group, Inc., 0.80%, 03/15/2024 | 2,000 | 1,953 | ||||||
|
|
|||||||
Total Utilities | 13,612 | |||||||
|
|
|||||||
Total Corporate Bonds (Cost $291,054) |
288,275 | |||||||
|
|
|||||||
Foreign Government Securities 0.6% |
||||||||
Export-Import Bank of Korea, (South Korea), 4.88%, 01/11/2026 | 500 | 493 | ||||||
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026 | 3,100 | 2,791 | ||||||
|
|
|||||||
Total Foreign Government Securities (Cost $3,599) |
3,284 | |||||||
|
|
|||||||
Municipal Bonds 0.4% (t) |
||||||||
California 0.1% |
||||||||
Municipal Improvement Corp. of Los Angeles, Series A, Rev., 0.42%, 11/01/2023 | 590 | 588 | ||||||
|
|
|||||||
Pennsylvania 0.3% |
||||||||
Philadelphia Authority for Industrial Development, Rev., 0.94%, 04/15/2024 | 1,555 | 1,516 | ||||||
|
|
|||||||
Total Municipal Bonds (Cost $2,145) |
2,104 | |||||||
U.S. Government Agency Securities 6.3% |
||||||||
FHLBs, | ||||||||
0.38%, 05/17/2024 |
1,500 | 1,452 | ||||||
0.46%, 09/10/2024 | 2,500 | 2,383 | ||||||
1.04%, 06/14/2024 | 2,000 | 1,937 | ||||||
3.63%, 02/28/2024 | 1,000 | 992 | ||||||
5.17%, 03/08/2024 | 2,000 | 1,997 | ||||||
5.30%, 12/06/2024 | 1,000 | 994 | ||||||
5.50%, 04/01/2024 | 3,000 | 2,999 | ||||||
5.51%, 04/01/2024 | 2,000 | 1,997 | ||||||
5.65%, 05/28/2025 | 1,700 | 1,691 | ||||||
5.71%, 03/14/2025 | 1,700 | 1,692 | ||||||
0.40%, 05/24/2024 | 1,360 | 1,315 | ||||||
FHLMC, | ||||||||
4.05%, 08/28/2025 |
2,500 | 2,443 | ||||||
5.05%, 01/28/2025 | 1,000 | 991 | ||||||
5.08%, 10/25/2024 | 1,000 | 993 | ||||||
5.52%, 05/28/2025 | 1,700 | 1,689 | ||||||
5.55%, 05/09/2025 | 1,700 | 1,690 | ||||||
5.65%, 03/07/2025 | 3,400 | 3,383 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Government Agency Securities continued |
||||||||
5.68%, 04/03/2025 | 1,700 | 1,692 | ||||||
5.73%, 04/03/2025 | 1,700 | 1,692 | ||||||
5.85%, 08/23/2027 | 2,000 | 2,000 | ||||||
FNMA, 4.00%, 02/28/2025 | 1,000 | 978 | ||||||
|
|
|||||||
Total U.S. Government Agency Securities (Cost $37,225) |
37,000 | |||||||
|
|
|||||||
U.S. Treasury Obligations 5.0% |
||||||||
U.S. Treasury Notes, | ||||||||
0.38%, 07/15/2024 |
4,000 | 3,844 | ||||||
0.38%, 09/15/2024 | 9,000 | 8,576 | ||||||
2.00%, 04/30/2024 | 4,750 | 4,657 | ||||||
2.00%, 05/31/2024 | 8,000 | 7,818 | ||||||
2.25%, 04/30/2024 | 5,000 | 4,908 | ||||||
|
|
|||||||
Total U.S. Treasury Obligations (Cost $29,847) |
29,803 | |||||||
|
|
|||||||
Short-Term Investments 11.3% |
||||||||
Bankers Acceptance Bill 0.5% |
||||||||
Bank of Nova Scotia, (Canada), 5.33%, 11/09/2023 (n) | CAD | 3,900 | 2,854 | |||||
|
|
|||||||
Certificates of Deposit 0.7% |
||||||||
Citibank NA, 5.89%, 05/10/2024 (n) | 2,000 | 2,000 | ||||||
Royal Bank of Canada, (Canada), 5.97%, 06/27/2024 (n) | 2,000 | 1,999 | ||||||
|
|
|||||||
Total Certificates of Deposit | 3,999 | |||||||
|
|
|||||||
Commercial Papers 5.3% |
||||||||
Amcor Flexible North America, Inc., 5.57%, 10/30/2023 (e) (n) | 700 | 697 | ||||||
Ameren Corp., | ||||||||
5.57%, 10/10/2023 (n) |
200 | 200 | ||||||
5.57%, 10/12/20239 (n) | 400 | 399 | ||||||
American Electric Power Co., Inc., | ||||||||
5.61%, 10/16/2023 (e) (n) |
200 | 200 | ||||||
5.62%, 10/23/2023 (e) (n) | 500 | 498 | ||||||
AT&T, Inc., 5.93%, 02/21/2024 (n) | 2,000 | 1,954 | ||||||
AutoNation, Inc., 5.96%, 10/11/2023 (e) (n) | 1,700 | 1,697 | ||||||
BPCE SA, (France), 5.93%, 06/04/2024 (n) | 2,000 | 1,922 | ||||||
Conagra Foods, Inc., 5.82%, 10/19/2023 (e) (n) | 300 | 299 | ||||||
Diageo Capital plc, (United Kingdom), 5.52%, 10/16/2023 (e) (n) | 1,700 | 1,696 | ||||||
Discovery Communications LLC, 5.98%, 10/16/2023 (e) (n) | 1,700 | 1,695 | ||||||
Dominion Energy, Inc., | ||||||||
5.58%, 10/11/2023 (e) (n) |
1,100 | 1,098 | ||||||
5.58%, 10/26/2023 (e) (n) | 700 | 697 | ||||||
Electricite de France SA, (France), 5.53%, 10/23/2023 (e) (n) | 1,300 | 1,295 | ||||||
Enbridge US, Inc., 5.59%, 10/20/2023 (e) (n) | 1,800 | 1,794 | ||||||
Entergy Corp., 5.54%, 10/05/2023 (e) (n) | 1,700 | 1,698 | ||||||
Global Payments, Inc., 6.06%, 10/16/2023 (n) | 3,100 | 3,091 |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Short-Term Investments continued |
||||||||
Commercial Papers continued |
||||||||
HSBC USA, Inc., |
||||||||
6.46%, 08/22/2024 (n) | 1,000 | 945 | ||||||
6.46%, 09/09/2024 (e) (n) | 2,200 | 2,071 | ||||||
6.55%, 06/24/2024 (n) | 750 | 716 | ||||||
Humana, Inc., 5.60%, 10/23/2023 (e) (n) | 500 | 498 | ||||||
Southern California Edison Co., 5.56%, 10/02/2023 (e) (n) | 1,400 | 1,399 | ||||||
Suncor Energy, Inc., (Canada), 5.78%, 11/01/2023 (e) (n) | 2,000 | 1,990 | ||||||
Targa Resources Corp., 6.18%, 10/23/2023 (e) (n) | 1,800 | 1,794 | ||||||
VW Credit, Inc., 11.20%, 10/17/2023 (e) (n) | 700 | 698 | ||||||
Walgreens Boots Alliance, Inc., 6.09%, 10/13/2023 (e) (n) | 400 | 399 | ||||||
|
|
|||||||
Total Commercial Papers | 31,440 | |||||||
|
|
|||||||
Foreign Government Securities 2.9% |
||||||||
Canadian Treasury Bill, (Canada), Zero Coupon, 02/15/2024 | CAD | 10,000 | 7,220 | |||||
Japan Treasury Discount Bill, (Japan), Series 1177, Zero Coupon, 11/20/2023 | JPY | 1,500,000 | 10,040 | |||||
|
|
|||||||
Total Foreign Government Securities | 17,260 | |||||||
|
|
|||||||
Time Deposits 0.2% |
||||||||
Australia & New Zealand Banking Group Ltd., 2.51%, 10/02/2023 | AUD | | (h) | | (h) | |||
Brown Brothers Harriman, 3.50%, 10/02/2023 | NZD | | (h) | | (h) | |||
Citibank NA, 4.68%, 10/02/2023 | 156 | 156 | ||||||
Royal Bank of Canada, 3.80%, 10/03/2023 | CAD | | (h) | | (h) | |||
Skandinaviska Enskilda Banken AB, | ||||||||
2.81%, 10/02/2023 |
EUR | 57 | 60 | |||||
4.17%, 10/02/2023 | GBP | 96 | 117 | |||||
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 10/02/2023 | 814 | 814 | ||||||
|
|
|||||||
Total Time Deposits | 1,147 | |||||||
|
|
|||||||
U.S. Treasury Obligations 1.7% |
||||||||
U.S. Treasury Bills, |
||||||||
Zero Coupon, 12/14/2023 (ii) | 62 | 62 | ||||||
Zero Coupon, 02/08/2024 | 10,000 | 9,810 | ||||||
|
|
|||||||
Total U.S. Treasury Obligations | 9,872 | |||||||
|
|
|||||||
Total Short-Term Investments (Cost $66,885) |
66,572 | |||||||
|
|
|||||||
Total Investments 100.6% (Cost - $599,245)* |
592,922 | |||||||
Liabilities in Excess of Other Assets (0.6)% |
(3,590 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 589,332 | ||||||
|
|
Percentages indicated are based on net assets.
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Futures contracts outstanding as of September 30, 2023:
Exchange Traded
DESCRIPTION |
NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
SOFR 3 Month |
62 | 12/2023 | USD | 14,625 | 43 | |||||||||||||||
U.S. Treasury 2 Year Note |
227 | 12/2023 | USD | 46,118 | (102 | ) | ||||||||||||||
|
|
|||||||||||||||||||
(59 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
||||||||||||||||||||
Euro Schatz |
(94 | ) | 12/2023 | EUR | (10,419 | ) | (15 | ) | ||||||||||||
SOFR 3 Month |
(35 | ) | 03/2025 | USD | (8,372 | ) | 24 | |||||||||||||
U.S. Treasury 2 Year Note |
(75 | ) | 12/2023 | USD | (15,237 | ) | 34 | |||||||||||||
U.S. Treasury 5 Year Note |
(122 | ) | 12/2023 | USD | (12,953 | ) | 99 | |||||||||||||
U.S. Treasury Ultra Bond |
(1 | ) | 12/2023 | USD | (125 | ) | 6 | |||||||||||||
U.S. Ultra Treasury 10 Year Note |
(7 | ) | 12/2023 | USD | (788 | ) | 7 | |||||||||||||
|
|
|||||||||||||||||||
155 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation (depreciation) |
96 | |||||||||||||||||||
|
|
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Forward foreign currency exchange contracts outstanding as of September 30, 2023:
CURRENCY PURCHASED |
CURRENCY SOLD |
COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||
USD |
18 | EUR | 17 | Morgan Stanley & Co. | 10/03/2023 | | (h) | |||||||||||||
USD |
1,638 | GBP | 1,292 | Barclays Bank plc | 10/03/2023 | 62 | ||||||||||||||
USD |
655 | GBP | 517 | Barclays Bank plc | 10/03/2023 | 24 | ||||||||||||||
USD |
986 | GBP | 795 | Morgan Stanley & Co. | 10/03/2023 | 16 | ||||||||||||||
USD |
6,639 | CAD | 8,957 | Morgan Stanley & Co. | 11/02/2023 | 42 | ||||||||||||||
USD |
3,187 | GBP | 2,604 | Bank of America, NA | 11/02/2023 | 9 | ||||||||||||||
USD |
7,290 | AUD | 11,131 | Deutsche Bank AG | 11/15/2023 | 122 | ||||||||||||||
USD |
10,424 | JPY | 1,500,000 | BNP Paribas | 11/20/2023 | 305 | ||||||||||||||
USD |
827 | EUR | 774 | BNP Paribas | 12/20/2023 | 5 | ||||||||||||||
USD |
9,303 | EUR | 8,684 | UBS AG LONDON | 12/20/2023 | 87 | ||||||||||||||
USD |
350 | EUR | 328 | UBS AG LONDON | 12/20/2023 | 2 | ||||||||||||||
USD |
7,670 | GBP | 6,198 | BNP Paribas | 12/20/2023 | 104 | ||||||||||||||
USD |
181 | CAD | 245 | Citibank, NA | 02/15/2024 | | (h) | |||||||||||||
USD |
7,214 | CAD | 9,755 | Citibank, NA | 02/15/2024 | 16 | ||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation |
|
794 | ||||||||||||||||||
|
|
|||||||||||||||||||
USD |
6,784 | CAD | 9,234 | Bank of America, NA | 10/03/2023 | (14 | ) | |||||||||||||
CAD |
8,961 | USD | 6,639 | Morgan Stanley & Co. | 10/03/2023 | (42 | ) | |||||||||||||
CAD |
264 | USD | 196 | Morgan Stanley & Co. | 10/03/2023 | (2 | ) | |||||||||||||
AUD |
830 | USD | 536 | Barclays Bank plc | 11/15/2023 | (1 | ) | |||||||||||||
USD |
663 | CAD | 900 | Deutsche Bank AG | 12/08/2023 | (1 | ) | |||||||||||||
USD |
838 | EUR | 790 | BNP Paribas | 12/20/2023 | | (h) | |||||||||||||
|
|
|||||||||||||||||||
Total unrealized depreciation |
(60 | ) | ||||||||||||||||||
|
|
|||||||||||||||||||
Net unrealized appreciation (depreciation) |
734 | |||||||||||||||||||
|
|
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Centrally Cleared Credit Default Swaps contracts outstanding buy protection (1) as of September 30, 2023:
REFERENCE |
FINANCING RATE PAID BY THE FUND(%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (2) |
NOTIONAL AMOUNT (3) |
UPFRONT PAYMENTS (RECEIPTS) ($) (4) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||||||||
CDX.NA.IG.40-V1 |
1.00 | % | quarterly | 06/20/2028 | 0.68 | USD | 500 | (5 | ) | (2 | ) | (7 | ) | |||||||||||||||||||||||
CDX.NA.IG.41-V1 |
1.00 | % | quarterly | 12/20/2028 | 0.73 | USD | 5,100 | (67 | ) | 3 | (64 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total |
|
(72 | ) | 1 | (71 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
(1) | The Fund, as a buyer of credit protection, is generally obligated to make periodic payments and may also pay or receive an upfront premium to or from the protection seller, in exchange for the right to receive a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. (2) Implied credit spreads are an indication of the sellers performance risk, related to the likelihood of a credit event occurring that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying reference obligations included in a particular index. (3) The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit protection would receive, upon occurrence of a credit event. (4) Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors). |
Six Circles Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023
ASX | | Australian Stock Exchange | ||
BBSW | | Bank Bill Swap Rate | ||
CDX | | Credit Default Swap Index | ||
CLO | | Collateralized Loan Obligations | ||
CMT | | Constant Maturity Treasury | ||
FHLB | | Federal Home Loan Bank | ||
FHLMC | | Federal Home Loan Mortgage Corp. | ||
FNMA | | Federal National Mortgage Association | ||
GNMA | | Government National Mortgage Association | ||
ICE | | Intercontinental Exchange | ||
LIBOR | | London Interbank Offered Rate | ||
Reg. S | | Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the Securities Act), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration. | ||
REMICS | | Real Estate Mortgage Investment Conduit | ||
Rev. | | Revenue | ||
SOFR | | Secured Overnight Financing Rate | ||
SONIA | | Sterling Overnight Interbank Average Rate | ||
SUB | | Step-Up Bond. The interest rate shown is the rate in effect as of September 30, 2023. | ||
(e) | | Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | ||
(f) | | Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended. | ||
(h) | | Amount rounds to less than 500 shares or principal/ $500. | ||
(n) | | The rate shown is the effective yield as of September 30, 2023. | ||
(t) | | The date shown represents the earliest of the next put date, next demand date or final maturity date. | ||
(w) | | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | ||
(z) | | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of September 30, 2023. | ||
(aa) | | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of September 30, 2023. | ||
(ii) | | Approximately $61 of this investment is restricted as collateral for forwards to Bank of America NA. | ||
* | | The cost of securities is substantially the same for federal income tax purposes. | ||
AUD | | Australian Dollar | ||
CAD | | Canadian Dollar | ||
EUR | | Euro | ||
GBP | | British Pound | ||
JPY | | Japanese Yen | ||
NZD | | New Zealand Dollar | ||
USD | | United States Dollar |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities 6.8% | ||||||||
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027 | 1,200 | 1,158 | ||||||
Bank of America Auto Trust, Series 2023-1A, Class A2, 5.83%, 05/15/2026 (e) | 1,000 | 999 | ||||||
BMW Canada Auto Trust, (Canada), | ||||||||
Series 2022-1A, Class A1, 3.65%, 12/20/2024 (e) | CAD | 144 | 106 | |||||
Series 2023-1A, Class A1, 5.43%, 01/20/2026 (e) | CAD | 781 | 573 | |||||
BMW Vehicle Lease Trust, Series 2023-1, Class A2, 5.27%, 02/25/2025 | 798 | 796 | ||||||
Capital One Multi-Asset Execution Trust, | ||||||||
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.69%), 6.03%, 07/15/2027 (aa) | 1,000 | 1,001 | ||||||
Series 2022-A2, Class A, 3.49%, 05/15/2027 | 500 | 483 | ||||||
Capital One Prime Auto Receivables Trust, Series 2022-2, Class A2B, (United States 30 Day Average SOFR + 0.65%), 5.96%, 09/15/2025 (aa) | 1,038 | 1,039 | ||||||
CARDS II Trust, (Canada), Series 2023-2A, Class A, (United States SOFR + 0.85%), 6.17%, 07/17/2028 (e) (aa) | 1,500 | 1,504 | ||||||
CarMax Auto Owner Trust, | ||||||||
Series 2022-4, Class A2A, 5.34%, 12/15/2025 | 444 | 443 | ||||||
Series 2022-4, Class A2B, (United States 30 Day Average SOFR + 0.90%), 6.21%, 12/15/2025 (aa) | 824 | 826 | ||||||
Carvana Auto Receivables Trust, Series 2023-P4, Class A2, 6.23%, 01/11/2027 (e) | 600 | 600 | ||||||
CIT Mortgage Loan Trust, Series 2007-1, Class 1A, (CME Term SOFR 1 Month + 1.46%), 6.78%, 10/25/2037 (e) (aa) | 23 | 23 | ||||||
Citibank Credit Card Issuance Trust, | ||||||||
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.73%), 6.06%, 04/22/2026 (aa) | 1,000 | 1,002 | ||||||
Series 2017-A6, Class A6, (CME Term SOFR 1 Month + 0.88%), 6.22%, 05/14/2029 (aa) | 2,000 | 2,009 | ||||||
Series 2018-A5, Class A5, (CME Term SOFR 1 Month + 0.72%), 6.05%, 08/07/2027 (aa) | 1,000 | 999 | ||||||
CNH Equipment Trust, Series 2023-B, Class A2, 5.90%, 02/16/2027 | 700 | 700 | ||||||
Daimler Trucks Retail Trust, Series 2023-1, Class A2, 6.03%, 09/15/2025 | 600 | 600 | ||||||
Dell Equipment Finance Trust, | ||||||||
Series 2021-2, Class A3, 0.53%, 12/22/2026 (e) | 284 | 281 | ||||||
Series 2023-2, Class A2, 5.84%, 01/22/2029 (e) | 500 | 499 | ||||||
Discover Card Execution Note Trust, Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.71%), 6.05%, 12/15/2026 (aa) | 1,000 | 1,001 | ||||||
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e) | 800 | 677 | ||||||
Enterprise Fleet Financing LLC, Series 2022-1, Class A2, 3.03%, 01/20/2028 (e) | 614 | 600 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued | ||||||||
Ford Auto Securitization Trust, (Canada), Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e) | CAD | 275 | 199 | |||||
Ford Credit Auto Lease Trust, Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.59%), 0.00%, 02/15/2026 (aa) | 1,200 | 1,200 | ||||||
GM Financial Automobile Leasing Trust, | ||||||||
Series 2022-2, Class A2, 2.93%, 10/21/2024 | 158 | 157 | ||||||
Series 2022-3, Class A2A, 4.01%, 10/21/2024 | 293 | 293 | ||||||
Series 2023-1, Class A2A, 5.27%, 06/20/2025 | 1,057 | 1,054 | ||||||
Series 2023-2, Class A2A, 5.44%, 10/20/2025 | 1,000 | 996 | ||||||
GM Financial Consumer Automobile Receivables Trust, | ||||||||
Series 2022-3, Class A2B, (United States 30 Day Average SOFR + 0.60%), 5.91%, 09/16/2025 (aa) | 943 | 943 | ||||||
Series 2023-2, Class A2A, 5.10%, 05/18/2026 | 1,000 | 995 | ||||||
GMF Canada Leasing Trust Asset-Backed Notes, (Canada), Series 2023-1A, Class A1, 5.46%, 04/21/2025 (e) | CAD | 957 | 704 | |||||
Hertz Vehicle Financing III LLC, Series 2022-3A, Class A, 3.37%, 03/25/2025 (e) | 100 | 99 | ||||||
Hyundai Auto Lease Securitization Trust, | ||||||||
Series 2021-C, Class A3, 0.38%, 09/16/2024 (e) | 714 | 709 | ||||||
Series 2023-A, Class A2A, 5.20%, 04/15/2025 (e) | 729 | 727 | ||||||
Hyundai Auto Receivables Trust, Series 2023-A, Class A2A, 5.19%, 12/15/2025 | 1,000 | 996 | ||||||
M&T Equipment Notes, Series 2023-1A, Class A2, 6.09%, 07/15/2030 (e) | 700 | 699 | ||||||
Master Credit Card Trust II, (Canada), Series 2023-1A, Class A, 4.70%, 06/21/2027 (e) | 600 | 587 | ||||||
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e) | 900 | 870 | ||||||
Navient Private Education Loan Trust, Series 2018-BX, Class A2B, Reg. S, (CME Term SOFR 1 Month + 0.83%), 6.17%, 12/15/2059 (aa) | 753 | 747 | ||||||
Nelnet Student Loan Trust, Series 2019-2A, Class A, (United States 30 Day Average SOFR + 1.01%), 6.33%, 06/27/2067 (e) (aa) | 798 | 790 | ||||||
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e) | 106 | 105 | ||||||
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (CME Term SOFR 1 Month + 0.91%), 6.23%, 07/25/2035 (aa) | 535 | 527 | ||||||
Pawnee Equipment Receivables LLC, | ||||||||
Series 2021-1, Class A2, 1.10%, 07/15/2027 (e) | 455 | 442 | ||||||
Series 2022-1, Class A2, 4.84%, 02/15/2028 (e) | 378 | 377 | ||||||
PRET LLC, | ||||||||
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e) | 698 | 645 | ||||||
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e) | 331 | 315 | ||||||
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e) | 212 | 200 | ||||||
SLM Student Loan Trust, Series 2004-10, Class A7B, (United States 90 Day Average SOFR + 0.86%), 5.92%, 10/25/2029 (e) (aa) | 512 | 510 | ||||||
SMB Private Education Loan Trust, | ||||||||
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e) | 233 | 226 | ||||||
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e) | 430 | 381 | ||||||
Series 2022-C, Class A1B, (United States 30 Day Average SOFR + 1.85%), 7.16%, 05/16/2050 (e) (aa) | 312 | 315 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued | ||||||||
Series 2023-A, Class A1A, 5.38%, 01/15/2053 (e) | 182 | 177 | ||||||
Synchrony Card Funding LLC, Series 2023-A1, Class A, 5.54%, 07/15/2029 | 1,000 | 998 | ||||||
Tesla Auto Lease Trust, Series 2023-B, Class A2, 6.02%, 09/22/2025 (e) | 600 | 600 | ||||||
Towd Point Asset Trust, Series 2021-SL1, Class A2, (CME Term SOFR 1 Month + 0.81%), 6.14%, 11/20/2061 (e) (aa) | 157 | 155 | ||||||
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e) | 1,800 | 1,671 | ||||||
Toyota Auto Receivables Owner Trust, | ||||||||
Series 2022-C, Class A2A, 3.83%, 08/15/2025 | 861 | 855 | ||||||
Series 2023-C, Class A2A, 5.60%, 08/17/2026 | 500 | 499 | ||||||
Toyota Lease Owner Trust, Series 2023-B, Class A2A, 5.73%, 04/20/2026 (e) | 1,200 | 1,199 | ||||||
Trillium Credit Card Trust II, (Canada), Series 2023-3A, Class A, (United States SOFR + 0.85%), 6.17%, 08/28/2028 (e) (aa) | 2,000 | 2,001 | ||||||
Volkswagen Auto Lease Trust, Series 2023-A, Class A2A, 5.87%, 01/20/2026 | 900 | 900 | ||||||
Volkswagen Auto Loan Enhanced Trust, Series 2023-1, Class A2A, 5.50%, 12/21/2026 | 1,000 | 997 | ||||||
World Omni Auto Receivables Trust, | ||||||||
Series 2023-A, Class A2A, 5.18%, 07/15/2026 | 910 | 906 | ||||||
Series 2023-B, Class A2A, 5.25%, 11/16/2026 | 1,000 | 996 | ||||||
|
|
|||||||
Total Asset-Backed Securities (Cost $47,246) |
46,681 | |||||||
|
|
|||||||
Collateralized Mortgage Obligations 2.5% | ||||||||
Avon Finance, (United Kingdom), Series 4A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 0.00%, 12/28/2049 (e) (aa) | GBP | 1,200 | 1,456 | |||||
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 08/20/2045 (aa) | GBP | 398 | 484 | |||||
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z) | 294 | 273 | ||||||
FNMA REMICS, | ||||||||
Series 2020-29, Class FC, (United States 30 Day Average SOFR + 0.91%), 4.97%, 05/25/2050 (aa) | 1,541 | 1,533 | ||||||
Series 2022-8, Class D, 2.00%, 08/25/2038 | 1,367 | 1,214 | ||||||
GNMA, | ||||||||
Series 2015-H04, Class FA, (CME Term SOFR 1 Month + 0.76%), 4.30%, 12/20/2064 (aa) | 1,017 | 1,006 | ||||||
Series 2017-121, Class PE, 3.00%, 07/20/2046 | 171 | 160 | ||||||
Series 2018-H18, Class FC, (CME Term SOFR 1 Month + 0.46%), 5.78%, 08/20/2065 (aa) | 712 | 708 | ||||||
Series 2019-54, Class KF, (CME Term SOFR 1 Month + 0.53%), 5.86%, 05/20/2044 (aa) | 378 | 358 | ||||||
Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 6.81%, 06/20/2071 (aa) | 1,478 | 1,512 | ||||||
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 3.50%, 01/20/2052 (aa) | 885 | 764 | ||||||
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 5.66%, 01/20/2072 (aa) | 783 | 755 | ||||||
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.21%, 01/20/2073 (aa) | 409 | 408 | ||||||
Series 2023-H12, Class FA, (United States 30 Day Average SOFR + 1.00%), 6.31%, 05/20/2073 (aa) | 2,014 | 2,020 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Collateralized Mortgage Obligations continued | ||||||||
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z) | 233 | 208 | ||||||
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e) | 1,216 | 1,133 | ||||||
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z) | 394 | 339 | ||||||
New Residential Mortgage Loan Trust, | ||||||||
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z) | 103 | 97 | ||||||
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z) | 253 | 225 | ||||||
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z) | 512 | 451 | ||||||
Silverstone Master Issuer plc, (United Kingdom), Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 5.69%, 01/21/2070 (e) (aa) | 553 | 552 | ||||||
Starwood Mortgage Residential Trust, | ||||||||
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z) | 220 | 203 | ||||||
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z) | 274 | 241 | ||||||
Stratton Mortgage Funding, (United Kingdom), Series 2021-2A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.06%, 07/20/2060 (e) (aa) | GBP | 123 | 150 | |||||
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 1.35%), 6.51%, 07/20/2045 (e) (aa) | GBP | 499 | 608 | |||||
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (CME Term SOFR 1 Month + 1.11%), 6.43%, 05/25/2058 (e) (aa) | 247 | 249 | ||||||
|
|
|||||||
Total Collateralized Mortgage Obligations (Cost $18,005) |
17,107 | |||||||
|
|
|||||||
Commercial Mortgage-Backed Securities 1.3% | ||||||||
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (CME Term SOFR 1 Month + 0.93%), 6.51%, 09/15/2034 (e) (aa) | 500 | 486 | ||||||
AREIT Trust, (Cayman Islands), | ||||||||
Series 2021-CRE5, Class A, (CME Term SOFR 1 Month + 1.19%), 6.53%, 11/17/2038 (e) (aa) | 399 | 391 | ||||||
Series 2022-CRE6, Class A, (United States 30 Day Average SOFR + 1.25%), 6.56%, 01/20/2037 (e) (aa) | 805 | 787 | ||||||
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (CME Term SOFR 1 Month + 1.17%), 6.51%, 06/15/2035 (e) (aa) | 710 | 702 | ||||||
BAMLL Commercial Mortgage Securities Trust, Series 2019-RLJ, Class A, (CME Term SOFR 1 Month + 1.10%), 6.43%, 04/15/2036 (e) (aa) | 400 | 397 | ||||||
BDS LLC, Series 2022-FL12, Class A, (CME Term SOFR 1 Month + 2.14%), 7.46%, 08/19/2038 (e) (aa) | 900 | 895 | ||||||
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.70%, 09/15/2036 (e) (aa) | 500 | 468 | ||||||
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058 | 500 | 481 | ||||||
Citigroup Commercial Mortgage Trust, Series 2021-KEYS, Class A, (CME Term SOFR 1 Month + 1.29%), 6.63%, 10/15/2036 (e) (aa) | 900 | 881 | ||||||
MF1X, Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 6.40%, 12/15/2034 (e) (aa) | 900 | 879 | ||||||
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (CME Term SOFR 1 Month + 1.11%), 6.45%, 05/15/2036 (e) (aa) | 700 | 650 | ||||||
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 7.16%, 03/15/2035 (e) (aa) | 740 | 739 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities continued | ||||||||
Sage AR Funding No. 1 plc, (United Kingdom), Series 1A, Class A, (SONIA Interest Rate Benchmark + 1.25%), 6.47%, 11/17/2030 (e) (aa) | GBP | 800 | 959 | |||||
SREIT Trust, Series 2021-IND, Class A, (CME Term SOFR 1 Month + 0.81%), 6.15%, 10/15/2038 (e) (aa) | 100 | 98 | ||||||
VMC Finance LLC, Series 2021-FL4, Class A, (CME Term SOFR 1 Month + 1.21%), 6.55%, 06/16/2036 (e) (aa) | 277 | 272 | ||||||
|
|
|||||||
Total Commercial Mortgage-Backed Securities (Cost $9,391) |
9,085 | |||||||
|
|
|||||||
Corporate Bonds 11.7% | ||||||||
Communications 0.5% | ||||||||
Media 0.3% | ||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital, | ||||||||
4.50%, 02/01/2024 | 300 | 298 | ||||||
(CME Term SOFR 3 Month + 1.91%), 7.28%, 02/01/2024 (aa) | 1,700 | 1,706 | ||||||
|
|
|||||||
2,004 | ||||||||
|
|
|||||||
Telecommunications 0.2% | ||||||||
AT&T, Inc., (CME Term SOFR 3 Month + 1.44%), 6.85%, 06/12/2024 (aa) | 800 | 805 | ||||||
British Telecommunications plc, (United Kingdom), 4.50%, 12/04/2023 | 400 | 399 | ||||||
|
|
|||||||
1,204 | ||||||||
|
|
|||||||
Total Communications | 3,208 | |||||||
|
|
|||||||
Consumer Cyclical 0.5% | ||||||||
Auto Manufacturers 0.4% | ||||||||
Hyundai Capital America, | ||||||||
0.80%, 01/08/2024 (e) | 1,200 | 1,183 | ||||||
(United States SOFR + 1.15%), 6.49%, 08/04/2025 (e) (aa) | 200 | 200 | ||||||
Volkswagen Group of America Finance LLC, (United States SOFR + 0.93%), 6.27%, 09/12/2025 (e) (aa) | 1,500 | 1,502 | ||||||
|
|
|||||||
2,885 | ||||||||
|
|
|||||||
Retail 0.1% | ||||||||
McDonalds Corp., Reg. S, (BBSW ASX Australian 3 Month + 1.13%), 5.25%, 03/08/2024 (aa) | AUD | 600 | 386 | |||||
|
|
|||||||
Total Consumer Cyclical | 3,271 | |||||||
|
|
|||||||
Consumer Non-cyclical 1.6% | ||||||||
Agriculture 0.3% | ||||||||
BAT Capital Corp., 3.22%, 08/15/2024 | 696 | 679 | ||||||
Imperial Brands Finance plc, (United Kingdom), 3.13%, 07/26/2024 (e) | 1,400 | 1,364 | ||||||
|
|
|||||||
2,043 | ||||||||
|
|
|||||||
Beverages 0.0% (g) | ||||||||
JDE Peets NV, (Netherlands), 0.80%, 09/24/2024 (e) | 400 | 380 | ||||||
|
|
|||||||
Commercial Services 0.1% | ||||||||
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 6.17%, 12/16/2024 (aa) | AUD | 1,000 | 649 | |||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Cosmetics/Personal Care 0.3% | ||||||||
Haleon US Capital LLC, 3.02%, 03/24/2024 | 2,100 | 2,070 | ||||||
|
|
|||||||
Healthcare - Products 0.1% | ||||||||
Baxter International, Inc., (SOFR Compounded Index + 0.26%), 5.60%, 12/01/2023 (aa) | 500 | 499 | ||||||
|
|
|||||||
Healthcare - Services 0.3% | ||||||||
HCA, Inc., 5.00%, 03/15/2024 | 2,000 | 1,989 | ||||||
|
|
|||||||
Pharmaceuticals 0.5% | ||||||||
Bayer US Finance II LLC, (CME Term SOFR 3 Month + 1.27%), 6.68%, 12/15/2023 (e) (aa) | 3,500 | 3,502 | ||||||
|
|
|||||||
Total Consumer Non-cyclical | 11,132 | |||||||
|
|
|||||||
Energy 0.2% | ||||||||
Pipelines 0.2% | ||||||||
Kinder Morgan, Inc., 5.63%, 11/15/2023 (e) | 1,500 | 1,499 | ||||||
|
|
|||||||
Financial 7.4% | ||||||||
Banks 6.6% | ||||||||
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024 | 1,100 | 1,044 | ||||||
Banco Santander SA, (Spain), 3.89%, 05/24/2024 | 453 | 446 | ||||||
Bank of America Corp., | ||||||||
(Canada Bankers Acceptances 3 Month + 0.90%), 2.93%, 04/25/2025 (aa) | CAD | 1,200 | 869 | |||||
(United States SOFR + 1.10%), 6.42%, 04/25/2025 (aa) | 600 | 601 | ||||||
Bank of Nova Scotia (The), (Canada), Series FRN, (SOFR Compounded Index + 0.45%), 5.75%, 04/15/2024 (aa) | 500 | 500 | ||||||
Banque Federative du Credit Mutuel SA, (France), | ||||||||
Reg. S, 1.00%, 02/04/2025 | 600 | 560 | ||||||
5.90%, 07/13/2026 (e) | 1,500 | 1,492 | ||||||
Barclays plc, (United Kingdom), | ||||||||
(CMT Index 1 Year + 0.80%), 1.01%, 12/10/2024 (aa) | 1,000 | 989 | ||||||
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa) | 1,300 | 1,280 | ||||||
BNP Paribas SA, (France), | ||||||||
Reg. S, 3.80%, 01/10/2024 | 200 | 199 | ||||||
(CME Term SOFR 3 Month + 2.50%), 4.71%, 01/10/2025 (e) (aa) | 1,900 | 1,890 | ||||||
BPCE SA, (France), Reg. S, (United States SOFR + 0.57%), 5.87%, 01/14/2025 (aa) | 800 | 797 | ||||||
Citigroup, Inc., (BBSW ASX Australian 3 Month + 1.72%), 6.00%, 10/27/2023 (aa) | AUD | 1,000 | 643 | |||||
Credit Suisse AG, (Switzerland), 3.63%, 09/09/2024 | 600 | 584 | ||||||
Danske Bank A/S, (Denmark), Reg. S, 5.38%, 01/12/2024 | 1,400 | 1,395 | ||||||
Deutsche Bank AG, (Germany), 3.70%, 05/30/2024 | 2,000 | 1,959 | ||||||
Federation des Caisses Desjardins du Quebec, (Canada), | ||||||||
0.70%, 05/21/2024 (e) | 1,100 | 1,064 | ||||||
2.05%, 02/10/2025 (e) | 500 | 473 | ||||||
First Abu Dhabi Bank PJSC, (United Arab Emirates), (BBSW ASX Australian 3 Month + 1.10%), 5.25%, 02/18/2025 (aa) | AUD | 700 | 449 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Banks continued | ||||||||
Goldman Sachs Group, Inc. (The), | ||||||||
Reg. S, (BBSW ASX Australian 3 Month + 1.55%), 5.74%, 05/02/2024 (aa) | AUD | 500 | 322 | |||||
(CME Term SOFR 3 Month + 1.86%), 7.27%, 11/29/2023 (aa) | 1,400 | 1,403 | ||||||
HSBC Holdings plc, (United Kingdom), (CME Term SOFR 3 Month + 1.49%), 6.90%, 03/11/2025 (aa) | 1,000 | 1,002 | ||||||
ING Groep NV, (Netherlands), | ||||||||
3.55%, 04/09/2024 | 700 | 691 | ||||||
(ICE LIBOR USD 3 Month + 1.00%), 6.53%, 10/02/2023 (aa) | 1,150 | 1,150 | ||||||
Lloyds Banking Group plc, (United Kingdom), 4.45%, 05/08/2025 | 2,100 | 2,042 | ||||||
Mitsubishi UFJ Financial Group, Inc., (Japan), (CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa) | 1,000 | 989 | ||||||
Mizuho Financial Group, Inc., (Japan), (CME Term SOFR 3 Month + 1.24%), 2.84%, 07/16/2025 (aa) | 1,000 | 972 | ||||||
Morgan Stanley, (United States SOFR + 0.46%), 5.79%, 01/25/2024 (aa) | 2,000 | 2,000 | ||||||
NatWest Group plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.76%), 4.27%, 03/22/2025 (aa) | 1,100 | 1,088 | ||||||
NatWest Markets plc, (United Kingdom), 3.48%, 03/22/2025 (e) | 1,000 | 964 | ||||||
Oversea-Chinese Banking Corp. Ltd., (Singapore), | ||||||||
(BBSW ASX Australian 3 Month + 0.26%), 4.43%, 08/12/2024 (aa) | AUD | 1,000 | 642 | |||||
(BBSW ASX Australian 3 Month + 0.35%), 4.47%, 03/18/2024 (f) (aa) | AUD | 500 | 321 | |||||
Santander UK Group Holdings plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.57%), 4.80%, 11/15/2024 (aa) | 1,200 | 1,198 | ||||||
Skandinaviska Enskilda Banken AB, (Sweden), 1.40%, 11/19/2025 (e) | 2,100 | 1,908 | ||||||
Societe Generale SA, (France), | ||||||||
2.63%, 10/16/2024 (e) | 300 | 288 | ||||||
2.63%, 01/22/2025 (e) | 800 | 761 | ||||||
3.88%, 03/28/2024 (e) | 500 | 494 | ||||||
Standard Chartered plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa) | 1,700 | 1,669 | ||||||
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 5.54%, 10/16/2024 (aa) | AUD | 2,400 | 1,546 | |||||
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e) | 400 | 381 | ||||||
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e) | 2,900 | 2,888 | ||||||
UBS AG, (Switzerland), Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 5.13%, 07/30/2025 (aa) | AUD | 2,200 | 1,409 | |||||
Wells Fargo & Co., | ||||||||
3.18%, 02/08/2024 (f) | CAD | 1,000 | 730 | |||||
(United States SOFR + 1.32%), 6.64%, 04/25/2026 (aa) | 1,200 | 1,207 | ||||||
|
|
|||||||
45,299 | ||||||||
|
|
|||||||
Diversified Financial Services 0.7% | ||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), 4.88%, 01/16/2024 | 1,800 | 1,793 | ||||||
Mitsubishi HC Capital, Inc., (Japan), | ||||||||
3.56%, 02/28/2024 (e) | 350 | 346 | ||||||
3.64%, 04/13/2025 (e) | 570 | 549 | ||||||
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025 | 2,300 | 2,128 | ||||||
ORIX Corp., (Japan), 3.25%, 12/04/2024 | 400 | 386 | ||||||
|
|
|||||||
5,202 | ||||||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Savings & Loans 0.1% | ||||||||
Nationwide Building Society, (United Kingdom), 0.55%, 01/22/2024 (e) | 400 | 394 | ||||||
|
|
|||||||
Total Financial | 50,895 | |||||||
|
|
|||||||
Industrial 0.3% | ||||||||
Aerospace/Defense 0.2% | ||||||||
Boeing Co. (The), 1.43%, 02/04/2024 | 1,710 | 1,683 | ||||||
|
|
|||||||
Electronics 0.1% | ||||||||
Arrow Electronics, Inc., 3.25%, 09/08/2024 | 500 | 486 | ||||||
|
|
|||||||
Total Industrial | 2,169 | |||||||
|
|
|||||||
Technology 0.4% | ||||||||
Semiconductors 0.3% | ||||||||
SK Hynix, Inc., (South Korea), | ||||||||
1.00%, 01/19/2024 (e) | 300 | 295 | ||||||
Reg. S, 1.00%, 01/19/2024 | 1,800 | 1,772 | ||||||
|
|
|||||||
2,067 | ||||||||
|
|
|||||||
Software 0.1% | ||||||||
VMware, Inc., 1.00%, 08/15/2024 | 800 | 766 | ||||||
|
|
|||||||
Total Technology | 2,833 | |||||||
|
|
|||||||
Utilities 0.8% | ||||||||
Electric 0.8% | ||||||||
Enel Finance International NV, (Netherlands), | ||||||||
2.65%, 09/10/2024 (e) | 1,800 | 1,742 | ||||||
4.25%, 06/15/2025 (e) | 300 | 291 | ||||||
Israel Electric Corp. Ltd., (Israel), Series 6, Reg. S, 5.00%, 11/12/2024 (e) | 300 | 296 | ||||||
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024 | 1,800 | 1,739 | ||||||
Pacific Gas and Electric Co., | ||||||||
1.70%, 11/15/2023 | 200 | 199 | ||||||
3.25%, 02/16/2024 | 500 | 494 | ||||||
3.75%, 02/15/2024 | 100 | 99 | ||||||
3.85%, 11/15/2023 | 400 | 399 | ||||||
|
|
|||||||
Total Utilities | 5,259 | |||||||
|
|
|||||||
Total Corporate Bonds (Cost $81,836) |
80,266 | |||||||
|
|
|||||||
Foreign Government Securities 0.6% | ||||||||
Export-Import Bank of Korea, (South Korea), 4.88%, 01/11/2026 | 800 | 789 | ||||||
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026 | 3,400 | 3,061 | ||||||
|
|
|||||||
Total Foreign Government Securities (Cost $4,198) |
3,850 | |||||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds 68.6% (t) |
||||||||
Alaska 0.5% | ||||||||
Alaska Housing Finance Corp., Home Mortgage, Series B, Rev., VRDO, 3.85%, 10/06/2023 (z) | 2,300 | 2,300 | ||||||
Alaska Municipal Bond Bank Authority, Series 4, Rev., AMT, 5.00%, 12/01/2024 | 1,215 | 1,220 | ||||||
|
|
|||||||
3,520 | ||||||||
|
|
|||||||
Arizona 2.1% | ||||||||
Arizona State University, Series A, Rev., VRDO, 3.90%, 10/06/2023 (z) | 12,475 | 12,475 | ||||||
City of Phoenix, GO, 5.00%, 07/01/2026 | 2,000 | 2,070 | ||||||
|
|
|||||||
14,545 | ||||||||
|
|
|||||||
California 4.1% | ||||||||
California State Public Works Board, Various Capital Projects, Rev., 5.00%, 12/01/2025 | 8,400 | 8,625 | ||||||
City of Los Angeles Department of Airports, Green Bonds Subordinated, Rev., AMT, 5.00%, 05/15/2025 | 750 | 759 | ||||||
City of Los Angeles Department of Airports, Senior Bonds Green Bond Project, Rev., AMT, 5.00%, 05/15/2025 | 2,475 | 2,506 | ||||||
San Francisco City & County Airport Commission International Airport, Revenue Refunding, Second Series, Series A, Rev., AMT, 5.00%, 05/01/2025 | 3,000 | 3,039 | ||||||
San Francisco City & County Airport Comm-San Francisco International Airport, Series B, Rev., VRDO, LOC: Barclays Bank plc, 2.65%, 10/06/2023 (z) | 10,000 | 10,000 | ||||||
West Valley-Mission Community College District, GO, 5.00%, 08/01/2024 | 3,000 | 3,030 | ||||||
|
|
|||||||
27,959 | ||||||||
|
|
|||||||
Connecticut 3.3% | ||||||||
Connecticut Housing Finance Authority, Series B3, Rev., VRDO, 3.93%, 10/06/2023 (z) | 5,680 | 5,680 | ||||||
Connecticut State Health & Educational Facilities Authority, Yale University, | ||||||||
Series A, Rev., VRDO, 4.00%, 10/02/2023 (z) | 14,000 | 14,000 | ||||||
Series V1, Rev., VRDO, 4.00%, 10/02/2023 (z) | 1,900 | 1,900 | ||||||
State of Connecticut Special Tax Revenue, Series D, Rev., 5.00%, 11/01/2025 | 1,250 | 1,282 | ||||||
|
|
|||||||
22,862 | ||||||||
|
|
|||||||
District of Columbia 1.1% | ||||||||
District of Columbia, Rev., VRDO, LOC: Wells Fargo Bank NA, 4.05%, 10/06/2023 (z) | 2,325 | 2,325 | ||||||
Metropolitan Washington Airports Authority Aviation Revenue, | ||||||||
Series A, Rev., AMT, 5.00%, 10/01/2025 | 1,665 | 1,685 | ||||||
Series B, Rev., 5.00%, 10/01/2025 | 1,030 | 1,054 | ||||||
Washington Metropolitan Area Transit Authority Dedicated Revenue, Sustainability Financed Bond, | ||||||||
Rev., 5.00%, 07/15/2025 | 1,250 | 1,276 | ||||||
Rev., 5.00%, 07/15/2026 | 1,250 | 1,291 | ||||||
|
|
|||||||
7,631 | ||||||||
|
|
|||||||
Florida 5.8% | ||||||||
Citizens Property Insurance, Inc., Series A1, Rev., 5.00%, 06/01/2025 | 1,000 | 1,008 | ||||||
City of Jacksonville, Series B, Rev., 5.00%, 10/01/2025 | 1,250 | 1,281 | ||||||
County of Miami-Dade Seaport Department, Senior Bonds, Series A, Rev., AMT, 5.00%, 10/01/2025 | 1,500 | 1,519 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued |
||||||||
Florida continued | ||||||||
Florida Gulf Coast University Financing Corp., Parking Project, Series A3, Rev., VRDO, LOC: TD Bank NA, 3.90%, 10/06/2023 (z) | 3,215 | 3,215 | ||||||
Highlands County Health Facilities Authority, Adventist Health System/Sunbelt Obligated Group, Series A, Rev., VRDO, 3.98%, 10/06/2023 (z) | 2,800 | 2,800 | ||||||
JEA Water & Sewer System Revenue, | ||||||||
Series A, Rev., 5.00%, 10/01/2024 | 3,750 | 3,771 | ||||||
Series B1, Rev., VRDO, 4.12%, 10/06/2023 (z) | 8,385 | 8,385 | ||||||
Orange County Health Facilities Authority, Nemours Foundation, Series B, Rev., VRDO, LOC: Northern Trust Co., 3.98%, 10/06/2023 (z) | 15,545 | 15,545 | ||||||
State of Florida Lottery Revenue, Lottery, Series A, Rev., 5.00%, 07/01/2025 | 2,000 | 2,040 | ||||||
|
|
|||||||
39,564 | ||||||||
|
|
|||||||
Georgia 0.4% | ||||||||
City of Atlanta, Department of Aviation, Series C, Rev., AMT, 5.00%, 07/01/2024 | 615 | 618 | ||||||
Main Street Natural Gas, Inc., Series A, Rev., 5.00%, 06/01/2025 | 700 | 700 | ||||||
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project, Rev., AGM, 5.00%, 07/01/2025 | 550 | 559 | ||||||
Private Colleges & Universities Authority, Emory University, Series B, Rev., 5.00%, 09/01/2025 | 1,020 | 1,043 | ||||||
|
|
|||||||
2,920 | ||||||||
|
|
|||||||
Idaho 0.7% | ||||||||
Idaho Health Facilities Authority, St. Lukes Health System Obligated Group, Rev., VRDO, LOC: U.S. Bank NA, 4.45%, 10/02/2023 (z) | 4,500 | 4,500 | ||||||
|
|
|||||||
Illinois 2.7% | ||||||||
Cook County, | ||||||||
Series A, GO, 5.00%, 11/15/2023 | 2,250 | 2,252 | ||||||
Series A, GO, 5.00%, 11/15/2024 | 5,000 | 5,055 | ||||||
Illinois Finance Authority, The Catherine Cook School Project, Rev., VRDO, LOC: Northern Trust Co., 4.00%, 10/06/2023 (z) | 1,770 | 1,770 | ||||||
Railsplitter Tobacco Settlement Authority, Rev., 5.00%, 06/01/2024 (p) | 1,005 | 1,011 | ||||||
Sales Tax Securitization Corp., Rev., 5.00%, 01/01/2025 | 3,250 | 3,285 | ||||||
Sales Tax Securitization Corp., Second Lien, Series A, Rev., 5.00%, 01/01/2024 | 2,700 | 2,705 | ||||||
State of Illinois, Series D, GO, 5.00%, 07/01/2025 | 2,600 | 2,635 | ||||||
|
|
|||||||
18,713 | ||||||||
|
|
|||||||
Indiana 1.1% | ||||||||
Indiana Finance Authority, Health Systems, Sisters of St. Francis, Series I, Rev., VRDO, LOC: Barclays Bank plc, 4.80%, 10/02/2023 (z) | 6,500 | 6,500 | ||||||
Indiana Municipal Power Agency, Series B, Rev., VRDO, LOC: U.S. Bank NA, 4.45%, 10/02/2023 (z) | 1,300 | 1,300 | ||||||
|
|
|||||||
7,800 | ||||||||
|
|
|||||||
Kansas 0.3% | ||||||||
Johnson County Unified School District No. 512 Shawnee Mission, Series A, GO, 5.00%, 10/01/2025 | 1,935 | 1,980 | ||||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued |
||||||||
Massachusetts 1.1% | ||||||||
Commonwealth of Massachusetts, Series A, GO, 5.00%, 01/01/2025 | 2,000 | 2,031 | ||||||
Massachusetts Development Finance Agency, Partners Healthcare System, Inc., Series K1, Rev., VRDO, 3.80%, 10/06/2023 (z) | 5,700 | 5,700 | ||||||
|
|
|||||||
7,731 | ||||||||
|
|
|||||||
Michigan 3.0% | ||||||||
Michigan State Building Authority, Facilities Program, Series II, Rev., 5.00%, 10/15/2025 | 5,500 | 5,630 | ||||||
University of Michigan, Series D1, Rev., VRDO, 4.40%, 10/02/2023 (z) | 2,170 | 2,170 | ||||||
Wayne County Airport Authority, Rev., AMT, 4.00%, 12/01/2023 (e) | 12,715 | 12,692 | ||||||
|
|
|||||||
20,492 | ||||||||
|
|
|||||||
Minnesota 2.5% | ||||||||
City of Rochester, Mayo Clinic, | ||||||||
Series A, Rev., VRDO, 3.90%, 10/06/2023 (z) | 13,000 | 13,000 | ||||||
Series B, Rev., VRDO, 3.90%, 10/06/2023 (z) | 3,900 | 3,900 | ||||||
|
|
|||||||
16,900 | ||||||||
|
|
|||||||
Missouri 1.8% | ||||||||
City of Kansas City, Series A, GO, 5.00%, 02/01/2026 | 900 | 926 | ||||||
City of St. Louis, Airport Revenue, Series A, Rev., AGM, 5.00%, 07/01/2024 | 2,000 | 2,013 | ||||||
Health & Educational Facilities Authority of the State of Missouri, SSM Healthcare, | ||||||||
Series A, Rev., 5.00%, 06/01/2024 | 2,380 | 2,392 | ||||||
Series F, Rev., VRDO, 4.80%, 10/02/2023 (z) | 7,000 | 7,000 | ||||||
|
|
|||||||
12,331 | ||||||||
|
|
|||||||
New Hampshire 0.3% | ||||||||
New Hampshire Health and Education Facilities Authority Act, Bishop Guertin High School, Rev., VRDO, LOC: TD Bank NA, 4.10%, 10/06/2023 (z) | 1,730 | 1,730 | ||||||
|
|
|||||||
New Jersey 2.0% | ||||||||
Jersey City Redevelopment Agency, Bayfront Redevelopment Project, Rev., 4.00%, 12/15/2024 | 5,350 | 5,354 | ||||||
New Jersey Economic Development Authority, Rev., 5.00%, 03/01/2026 | 500 | 511 | ||||||
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated Group, Rev., 5.00%, 07/01/2024 | 6,930 | 6,982 | ||||||
New Jersey Higher Education Student Assistance Authority, Series B, Rev., AMT, 5.00%, 12/01/2023 | 300 | 300 | ||||||
New Jersey Higher Education Student Assistance Authority, Senior, Series A, Rev., AMT, 5.00%, 12/01/2025 | 575 | 580 | ||||||
|
|
|||||||
13,727 | ||||||||
|
|
|||||||
New Mexico 2.2% | ||||||||
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 5.00%, 09/01/2024 | 6,750 | 6,780 | ||||||
New Mexico Finance Authority, Subordinate, Series A, Rev., 5.00%, 06/15/2025 | 2,795 | 2,853 | ||||||
University of New Mexico (The), System Improvement, Rev., VRDO, 3.80%, 10/06/2023 (z) | 5,435 | 5,435 | ||||||
|
|
|||||||
15,068 | ||||||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued |
||||||||
New York 8.6% | ||||||||
City of New York, Fiscal 2018, Series B, GO, VRDO, 4.80%, 10/02/2023 (z) | 12,000 | 12,000 | ||||||
City of New York, Fiscal 2021, Series C, GO, 5.00%, 08/01/2024 | 1,015 | 1,025 | ||||||
City of New York, Fiscal Year 2017, Series A4, GO, VRDO, LOC: Citibank NA, 4.06%, 10/06/2023 (z) | 1,090 | 1,090 | ||||||
City of New York, Fiscal Year 2018, Series B5, GO, VRDO, 4.80%, 10/02/2023 (z) | 5,000 | 5,000 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinated, Series E1, Rev., 5.00%, 11/01/2025 | 7,000 | 7,177 | ||||||
New York City Transitional Finance Authority, Future Tax Secured Revenue, Rev., 5.00%, 11/01/2023 | 1,000 | 1,001 | ||||||
New York State Dormitory Authority, | ||||||||
Series A, Rev., AGM, 4.00%, 10/01/2023 | 1,150 | 1,150 | ||||||
Series B, Rev., 4.00%, 10/01/2023 | 2,805 | 2,805 | ||||||
New York State Dormitory Authority, School Districts Financing Program, Rev., 5.00%, 10/01/2023 | 1,245 | 1,245 | ||||||
New York State Dormitory Authority, Unrefunded General Purpose, Rev., 5.00%, 02/15/2026 | 6,590 | 6,783 | ||||||
New York State Environmental Facilities Corp., Subordinate New York City Municipal Water Finance, Rev., 5.00%, 06/15/2026 | 3,500 | 3,634 | ||||||
New York State Urban Development Corp., Personal Income Tax, Series A, Rev., 5.00%, 03/15/2024 | 1,630 | 1,638 | ||||||
Port Authority of New York & New Jersey, | ||||||||
Series 207, Rev., AMT, 5.00%, 09/15/2024 | 3,000 | 3,021 | ||||||
Series 242, Rev., AMT, 5.00%, 12/01/2025 | 5,000 | 5,069 | ||||||
Triborough Bridge & Tunnel Authority, MTA Bridges And Tunnels, Rev., 5.00%, 11/15/2025 | 6,455 | 6,611 | ||||||
|
|
|||||||
59,249 | ||||||||
|
|
|||||||
North Carolina 0.4% | ||||||||
North Carolina Turnpike Authority, Rev., BAN, 5.00%, 02/01/2024 (p) | 3,000 | 3,004 | ||||||
|
|
|||||||
Ohio 4.1% | ||||||||
County of Franklin, Facilities, OhioHealth Corp., Series D, Rev., VRDO, LOC: Northern Trust Co., 4.08%, 10/06/2023 (z) | 1,900 | 1,900 | ||||||
Ohio Higher Educational Facility Commission, Hospital, Cleveland Clinic Health System Obligated Group, Series B3, Rev., VRDO, 4.45%, 10/02/2023 (z) | 5,000 | 5,000 | ||||||
Ohio State University (The), Series B2, Rev., VRDO, 3.80%, 10/06/2023 (z) | 6,725 | 6,725 | ||||||
State of Ohio, Cleveland Clinic Health System, Rev., VRDO, 4.05%, 10/06/2023 (z) | 14,000 | 14,000 | ||||||
State of Ohio, Mental Health Facilities Improvement, Series A, Rev., 5.00%, 02/01/2024 | 500 | 502 | ||||||
|
|
|||||||
28,127 | ||||||||
|
|
|||||||
Oklahoma 0.5% | ||||||||
Oklahoma Municipal Power Authority, Power Supply System, Series A, Rev., AGM, 5.00%, 01/01/2026 | 3,500 | 3,579 | ||||||
|
|
|||||||
Oregon 0.9% | ||||||||
Oregon State Lottery, Series A, Rev., 5.00%, 04/01/2024 | 1,100 | 1,106 | ||||||
Portland Community College District, GO, 5.00%, 06/15/2025 | 3,235 | 3,302 | ||||||
Washington & Multnomah Counties School District No. 48J Beaverton, Series B, GO, SCH BD GTY, 5.00%, 06/15/2024 | 2,000 | 2,015 | ||||||
|
|
|||||||
6,423 | ||||||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued |
||||||||
Pennsylvania 0.8% | ||||||||
City of Philadelphia Water & Wastewater Revenue, | ||||||||
Series B, Rev., AGM, 5.00%, 09/01/2026 | 2,550 | 2,634 | ||||||
Series C, Rev., 5.00%, 06/01/2025 | 1,355 | 1,378 | ||||||
Lancaster Higher Education Authority, Harrisburg Area Community, Rev., BAM, 5.00%, 10/01/2023 | 600 | 600 | ||||||
Pennsylvania Economic Development Financing Authority, Series A, Rev., 4.00%, 10/15/2023 | 700 | 700 | ||||||
|
|
|||||||
5,312 | ||||||||
|
|
|||||||
Texas 9.9% | ||||||||
Austin Independent School District, GO, 5.00%, 08/01/2025 | 4,500 | 4,591 | ||||||
Board of Regents of the University of Texas System, Financing System, Series B, Rev., VRDO, LIQ: University of Texas Investment Management Co. (The), 3.77%, 10/06/2023 (z) | 21,000 | 21,000 | ||||||
City of Garland Electric Utility System Revenue, Series A, Rev., 5.00%, 03/01/2025 | 2,190 | 2,219 | ||||||
City of Houston Combined Utility System Revenue, Combined First Lien, Rev., VRDO, 4.06%, 10/06/2023 (z) | 16,000 | 16,000 | ||||||
City of Houston Combined Utility System Revenue, Rev., VRDO, (SIFMA Municipal Swap Index + 0.01%), 4.00%, 10/06/2023 (aa) | 5,000 | 5,000 | ||||||
City of Wichita Falls Water & Sewer System Revenue, Rev., 5.00%, 08/01/2024 | 1,540 | 1,555 | ||||||
Cypress-Fairbanks Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2025 | 2,140 | 2,173 | ||||||
Fort Worth Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2025 | 1,150 | 1,169 | ||||||
Plano Independent School District, GO, 5.00%, 02/15/2025 | 3,600 | 3,661 | ||||||
San Antonio Independent School District, GO, PSF-GTD, 5.00%, 08/15/2024 | 1,375 | 1,389 | ||||||
State of Texas, Transportation Commission Highway, GO, 5.00%, 04/01/2025 | 3,000 | 3,050 | ||||||
Texas A&M University, Financing System, Series E, Rev., 5.00%, 05/15/2025 | 3,000 | 3,059 | ||||||
Texas Public Finance Authority, Rev., 5.00%, 02/01/2025 | 2,980 | 3,028 | ||||||
|
|
|||||||
67,894 | ||||||||
|
|
|||||||
Utah 1.6% | ||||||||
Central Valley Water Reclamation Facility, Green Bond, Series C, Rev., 5.00%, 03/01/2024 | 500 | 502 | ||||||
City of Salt Lake City Public Utilities Revenue, Rev., 5.00%, 02/01/2025 | 1,550 | 1,575 | ||||||
Intermountain Power Agency, Series A, Rev., 5.00%, 07/01/2026 | 2,500 | 2,585 | ||||||
State of Utah, GO, 5.00%, 07/01/2026 | 5,000 | 5,189 | ||||||
University of Utah, Green Bonds, Series A, Rev., 5.00%, 08/01/2025 | 925 | 947 | ||||||
|
|
|||||||
10,798 | ||||||||
|
|
|||||||
Virginia 3.0% | ||||||||
Albermarle County Economic Development Authority, Sentara Healthcare Obligated Group, Series B, Rev., VRDO, 4.40%, 10/02/2023 (z) | 3,350 | 3,350 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued |
||||||||
Virginia continued | ||||||||
Norfolk Economic Development Authority, Sentara Healthcare Obligated Group, | ||||||||
Rev., VRDO, 3.80%, 10/06/2023 (z) | 9,440 | 9,440 | ||||||
Series A, Rev., VRDO, 4.06%, 10/06/2023 (z) | 6,700 | 6,700 | ||||||
Virginia College Building Authority, 21st Century College, Series E1, Rev., 5.00%, 02/01/2024 | 1,285 | 1,290 | ||||||
|
|
|||||||
20,780 | ||||||||
|
|
|||||||
Washington 3.8% | ||||||||
Central Puget Sound Regional Transit Authority, Green Bonds, Series S1, Rev., 5.00%, 11/01/2025 | 5,000 | 5,128 | ||||||
Chelan County Public Utility District No. 1, Series B, Rev., VRDO, 4.10%, 10/06/2023 (z) | 11,060 | 11,060 | ||||||
Port of Seattle, Intermediate Lien, Rev., AMT, 5.00%, 08/01/2025 | 1,735 | 1,760 | ||||||
Port of Seattle, Private Activity, Rev., AMT, 5.00%, 09/01/2025 | 6,885 | 6,976 | ||||||
Snohomish County School District No. 6 Mukilteo, GO, SCH BD GTY, 5.00%, 12/01/2023 | 1,000 | 1,002 | ||||||
|
|
|||||||
25,926 | ||||||||
|
|
|||||||
Total Municipal Bonds (Cost $475,649) |
471,065 | |||||||
|
|
|||||||
U.S. Government Agency Securities 2.7% | ||||||||
FHLBs, | ||||||||
5.65%, 05/28/2025 | 2,000 | 1,989 | ||||||
5.71%, 03/14/2025 | 2,000 | 1,991 | ||||||
FHLMC, | ||||||||
5.52%, 05/28/2025 | 2,000 | 1,987 | ||||||
5.55%, 05/09/2025 | 2,000 | 1,988 | ||||||
5.65%, 03/07/2025 | 4,000 | 3,980 | ||||||
5.68%, 04/03/2025 | 2,000 | 1,990 | ||||||
5.73%, 04/03/2025 | 2,000 | 1,991 | ||||||
5.85%, 08/23/2027 | 2,300 | 2,300 | ||||||
|
|
|||||||
Total U.S. Government Agency Securities (Cost $18,297) |
18,216 | |||||||
|
|
|||||||
Short-Term Investments 5.5% | ||||||||
Bankers Acceptance Bill 0.5% | ||||||||
Bank of Nova Scotia, (Canada), 5.33%, 11/09/2023 (n) | CAD | 4,900 | 3,586 | |||||
|
|
|||||||
Commercial Papers 4.1% | ||||||||
American Electric Power Co., Inc., | ||||||||
5.61%, 10/16/2023 (e) (n) | 800 | 798 | ||||||
5.62%, 10/23/2023 (e) (n) | 500 | 498 | ||||||
Arrow Electronics, Inc., | ||||||||
5.87%, 10/03/2023 (e) (n) | 1,200 | 1,199 | ||||||
5.92%, 10/25/2023 (e) (n) | 500 | 498 | ||||||
5.92%, 10/26/2023 (e) (n) | 1,600 | 1,593 | ||||||
Conagra Brands, Inc., 5.76%, 10/11/2023 (e) (n) | 2,100 | 2,096 | ||||||
Diageo Capital plc, (United Kingdom), 5.58%, 11/07/2023 (e) (n) | 2,000 | 1,988 | ||||||
Discovery Communications LLC, 5.98%, 10/16/2023 (e) (n) | 2,000 | 1,994 | ||||||
Dominion Energy, Inc., 5.58%, 10/17/2023 (e) (n) | 2,100 | 2,094 | ||||||
Electricite de France SA, (France), 5.53%, 10/23/2023 (e) (n) | 700 | 697 |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Short-Term Investments continued | ||||||||
Commercial Papers continued | ||||||||
Enbridge US, Inc., 5.59%, 10/20/2023 (e) (n) | 2,100 | 2,093 | ||||||
Entergy Corp., 5.57%, 10/27/2023 (e) (n) | 2,000 | 1,992 | ||||||
Fidelity National Information Services, Inc., 5.57%, 10/12/2023 (e) (n) | 300 | 300 | ||||||
Humana, Inc., 5.61%, 10/25/2023 (e) (n) | 1,500 | 1,494 | ||||||
L3Harris Technologies, Inc., | ||||||||
5.65%, 10/10/2023 (e) (n) | 600 | 599 | ||||||
5.68%, 10/02/2023 (e) (n) | 300 | 300 | ||||||
5.68%, 10/03/2023 (e) (n) | 900 | 899 | ||||||
Oracle Corp., | ||||||||
5.53%, 10/27/2023 (e) (n) | 1,400 | 1,394 | ||||||
5.56%, 10/26/2023 (e) (n) | 700 | 697 | ||||||
Southern California Edison Co., 5.56%, 10/02/2023 (e) (n) | 1,800 | 1,799 | ||||||
Targa Resources Corp., 6.18%, 10/23/2023 (e) (n) | 2,100 | 2,093 | ||||||
VW Credit, Inc., 11.20%, 10/17/2023 (e) (n) | 700 | 698 | ||||||
Walgreens Boots Alliance, Inc., 6.09%, 10/13/2023 (e) (n) | 500 | 499 | ||||||
|
|
|||||||
Total Commercial Papers | 28,312 | |||||||
|
|
|||||||
Municipal Bond 0.7% (t) | ||||||||
City of Los Angeles, Rev., TRAN, 5.00%, 06/27/2024 | 5,000 | 5,059 | ||||||
|
|
|||||||
Time Deposits 0.2% | ||||||||
Australia & New Zealand Banking Group Ltd., 2.51%, 10/02/2023 | AUD | | (h) | | (h) | |||
Citibank NA, 4.68%, 10/02/2023 | 722 | 722 | ||||||
Royal Bank of Canada, 3.80%, 10/03/2023 | CAD | 221 | 163 | |||||
Skandinaviska Enskilda Banken AB, | ||||||||
2.81%, 10/02/2023 | EUR | 1 | 1 | |||||
4.17%, 10/02/2023 | GBP | 122 | 149 | |||||
|
|
|||||||
Total Time Deposits | 1,035 | |||||||
|
|
|||||||
U.S. Treasury Obligation 0.0% (g) | ||||||||
U.S. Treasury Bill, Zero Coupon, 12/14/2023 (ii) | 72 | 71 | ||||||
|
|
|||||||
Total Short-Term Investments (Cost $38,126) |
38,063 | |||||||
|
|
|||||||
Total Investments 99.7% (Cost - $692,748)* |
684,333 | |||||||
Other Assets in Excess of Liabilities 0.3% |
2,333 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 686,666 | ||||||
|
|
Percentages indicated are based on net assets.
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Futures contracts outstanding as of September 30, 2023:
Exchange Traded
DESCRIPTION |
NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
SOFR 3 Month |
70 | 12/2023 | USD | 16,513 | 48 | |||||||||||||||
U.S. Treasury 2 Year Note |
282 | 12/2023 | USD | 57,294 | (130 | ) | ||||||||||||||
|
|
|||||||||||||||||||
(82 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
||||||||||||||||||||
Euro Schatz |
(110 | ) | 12/2023 | EUR | (12,193 | ) | (17 | ) | ||||||||||||
SOFR 3 Month |
(43 | ) | 03/2025 | USD | (10,286 | ) | 29 | |||||||||||||
U.S. Treasury 5 Year Note |
(141 | ) | 12/2023 | USD | (14,970 | ) | 115 | |||||||||||||
U.S. Treasury Ultra Bond |
(1 | ) | 12/2023 | USD | (125 | ) | 6 | |||||||||||||
U.S. Ultra Treasury 10 Year Note |
(7 | ) | 12/2023 | USD | (788 | ) | 7 | |||||||||||||
|
|
|||||||||||||||||||
140 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation (depreciation) | 58 | |||||||||||||||||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Forward foreign currency exchange contracts outstanding as of September 30, 2023:
CURRENCY PURCHASED |
CURRENCY SOLD |
COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||
USD | 20 | EUR | 19 | Morgan Stanley & Co. | 10/03/2023 | | (h) | |||||||||||||
USD | 697 | GBP | 550 | Barclays Bank plc | 10/03/2023 | 25 | ||||||||||||||
USD |
1,743 | GBP | 1,375 | Barclays Bank plc | 10/03/2023 | 66 | ||||||||||||||
USD |
1,479 | GBP | 1,192 | Morgan Stanley & Co. | 10/03/2023 | 24 | ||||||||||||||
USD |
5,432 | CAD | 7,329 | Morgan Stanley & Co. | 11/02/2023 | 34 | ||||||||||||||
USD |
3,815 | GBP | 3,117 | Bank of America, NA | 11/02/2023 | 11 | ||||||||||||||
USD |
7,606 | AUD | 11,614 | Deutsche Bank AG | 11/15/2023 | 128 | ||||||||||||||
USD |
741 | CAD | 1,000 | Deutsche Bank AG | 02/08/2024 | 3 | ||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation |
291 | |||||||||||||||||||
|
|
|||||||||||||||||||
USD |
5,610 | CAD | 7,637 | Bank of America, NA | 10/03/2023 | (12 | ) | |||||||||||||
CAD |
7,332 | USD | 5,432 | Morgan Stanley & Co. | 10/03/2023 | (34 | ) | |||||||||||||
CAD |
297 | USD | 220 | Morgan Stanley & Co. | 10/03/2023 | (1 | ) | |||||||||||||
AUD |
1,721 | USD | 1,110 | Barclays Bank plc | 11/15/2023 | (2 | ) | |||||||||||||
USD |
736 | CAD | 1,000 | Deutsche Bank AG | 12/08/2023 | (1 | ) | |||||||||||||
|
|
|||||||||||||||||||
Total unrealized depreciation |
|
(50 | ) | |||||||||||||||||
|
|
|||||||||||||||||||
Net unrealized appreciation (depreciation) |
|
241 | ||||||||||||||||||
|
|
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Centrally Cleared Credit Default Swaps contracts outstanding buy protection (1) as of September 30, 2023:
REFERENCE INDEX |
FINANCINGRATE PAID BY THE FUND(%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (2) |
NOTIONAL AMOUNT (3) |
UPFRONT PAYMENTS (RECEIPTS) ($) (4) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||||
CDX.NA.IG.41-V1 |
1.00 | % | quarterly | 12/20/2028 | 0.73 | USD | 5,100 | (67 | ) | 3 | (64 | ) | ||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||
Total |
|
(67 | ) | 3 | (64 | ) | ||||||||||||||||||||||||||
|
|
(1) | The Fund, as a buyer of credit protection, is generally obligated to make periodic payments and may also pay or receive an upfront premium to or from the protection seller, in exchange for the right to receive a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
(2) | Implied credit spreads are an indication of the sellers performance risk, related to the likelihood of a credit event occurring that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying reference obligations included in a particular index. |
(3) | The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit protection would receive, upon occurrence of a credit event. |
(4) | Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors). |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 | ||||
ASX |
| Australian Stock Exchange | ||
AGM |
| Insured by Assured Guaranty Municipal Corp. | ||
AMT |
| Alternative Minimum Tax | ||
BAM |
| Insured by Build America Mutual | ||
BAN |
| Bond Anticipation Note | ||
BBSW |
| Bank Bill Swap Rate | ||
CDX |
| Credit Default Swap Index | ||
CMT |
| Constant Maturity Treasury | ||
FHLB |
| Federal Home Loan Bank | ||
FHLMC |
| Federal Home Loan Mortgage Corp. | ||
FNMA |
| Federal National Mortgage Association | ||
GNMA |
| Government National Mortgage Association | ||
GO |
| General Obligation | ||
GTD |
| Guaranteed | ||
ICE |
| Intercontinental Exchange | ||
LIBOR |
| London Interbank Offered Rate | ||
LIQ |
| Liquidity Agreement | ||
LOC |
| Letter of Credit | ||
PSF |
| Permanent School Fund | ||
Reg. S |
| Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the Securities Act), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration. | ||
REMICS |
| Real Estate Mortgage Investment Conduit | ||
Rev. |
| Revenue | ||
SCH BD GTY |
| School Bond Guaranty | ||
SIFMA |
| Securities Industry and Financial Markets Association | ||
SOFR |
| Secured Overnight Financing Rate | ||
SONIA |
| Sterling Overnight Interbank Average Rate | ||
SUB |
| Step-Up Bond. The interest rate shown is the rate in effect as of September 30, 2023. | ||
TRAN |
| Tax & Revenue Anticipation Note | ||
VRDO |
| Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of September 30, 2023. | ||
(e) |
| Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | ||
(f) |
| Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended. | ||
(g) |
| Amount rounds to less than 0.05%. | ||
(h) |
| Amount rounds to less than 500 shares or principal/ $500. |
Six Circles Tax Aware Ultra Short Duration Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS (continued)
(n) |
| The rate shown is the effective yield as of September 30, 2023. | ||
(p) |
| Security is prerefunded or escrowed to maturity. | ||
(t) |
| The date shown represents the earliest of the prerefunded date, next put date or final maturity date. | ||
(z) |
| Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of September 30, 2023. | ||
(aa) |
| Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of September 30, 2023. | ||
(ii) |
| Approximately $71 of this investment is restricted as collateral for forwards to Bank of America NA. | ||
* |
| The cost of securities is substantially the same for federal income tax purposes. | ||
AUD |
| Australian Dollar | ||
CAD |
| Canadian Dollar | ||
EUR |
| Euro | ||
GBP |
| British Pound | ||
USD |
| United States Dollar |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks 99.0% |
||||||||
Basic Materials 0.6% |
||||||||
Chemicals 0.5% |
||||||||
Air Products & Chemicals, Inc. |
34 | 9,723 | ||||||
Albemarle Corp. |
19 | 3,153 | ||||||
Celanese Corp., Class A |
12 | 1,510 | ||||||
CF Industries Holdings, Inc. |
32 | 2,763 | ||||||
Dow, Inc. |
134 | 6,905 | ||||||
DuPont de Nemours, Inc. |
87 | 6,456 | ||||||
Eastman Chemical Co. |
17 | 1,277 | ||||||
Ecolab, Inc. |
38 | 6,491 | ||||||
FMC Corp. |
16 | 1,105 | ||||||
International Flavors & Fragrances, Inc. |
36 | 2,469 | ||||||
Linde plc |
80 | 29,712 | ||||||
LyondellBasell Industries NV, Class A |
47 | 4,484 | ||||||
Mosaic Co. (The) |
64 | 2,275 | ||||||
PPG Industries, Inc. |
36 | 4,720 | ||||||
RPM International, Inc. |
16 | 1,563 | ||||||
Sherwin-Williams Co. (The) |
38 | 9,642 | ||||||
Westlake Corp. |
8 | 986 | ||||||
|
|
|||||||
95,234 | ||||||||
|
|
|||||||
Forest Products & Paper 0.0% (g) |
| |||||||
International Paper Co. |
87 | 3,101 | ||||||
|
|
|||||||
Iron/Steel 0.1% |
| |||||||
Cleveland-Cliffs, Inc. (a) |
77 | 1,208 | ||||||
Nucor Corp. |
42 | 6,496 | ||||||
Reliance Steel & Aluminum Co. |
8 | 2,217 | ||||||
Steel Dynamics, Inc. |
27 | 2,909 | ||||||
|
|
|||||||
12,830 | ||||||||
|
|
|||||||
Mining 0.0% (g) |
| |||||||
Freeport-McMoRan, Inc. |
212 | 7,900 | ||||||
Newmont Corp. |
106 | 3,916 | ||||||
|
|
|||||||
11,816 | ||||||||
|
|
|||||||
Total Basic Materials |
|
122,981 | ||||||
|
|
|||||||
Communications 16.3% |
||||||||
Advertising 0.1% |
||||||||
Interpublic Group of Cos., Inc. (The) |
78 | 2,227 | ||||||
Omnicom Group, Inc. |
39 | 2,904 | ||||||
Trade Desk, Inc. (The), Class A (a) |
73 | 5,686 | ||||||
|
|
|||||||
10,817 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Internet 14.6% |
||||||||
Airbnb, Inc., Class A (a) |
66 | 9,038 | ||||||
Alphabet, Inc., Class A (a) |
3,964 | 518,707 | ||||||
Alphabet, Inc., Class C (a) |
3,586 | 472,798 | ||||||
Amazon.com, Inc. (a) |
8,164 | 1,037,809 | ||||||
Booking Holdings, Inc. (a) |
6 | 19,885 | ||||||
CDW Corp. |
73 | 14,653 | ||||||
Chewy, Inc., Class A (a) |
15 | 281 | ||||||
DoorDash, Inc., Class A (a) |
39 | 3,066 | ||||||
eBay, Inc. |
74 | 3,244 | ||||||
Etsy, Inc. (a) |
24 | 1,525 | ||||||
Expedia Group, Inc. (a) |
31 | 3,209 | ||||||
F5, Inc. (a) |
28 | 4,571 | ||||||
Gen Digital, Inc. |
315 | 5,572 | ||||||
GoDaddy, Inc., Class A (a) |
16 | 1,215 | ||||||
Match Group, Inc. (a) |
146 | 5,735 | ||||||
MercadoLibre, Inc., (Uruguay) (a) |
7 | 9,385 | ||||||
Meta Platforms, Inc., Class A (a) |
1,247 | 374,236 | ||||||
Netflix, Inc. (a) |
75 | 28,368 | ||||||
Okta, Inc., Class A (a) |
24 | 1,993 | ||||||
Palo Alto Networks, Inc. (a) |
172 | 40,259 | ||||||
Pinterest, Inc., Class A (a) |
329 | 8,883 | ||||||
Robinhood Markets, Inc., Class A (a) |
180 | 1,768 | ||||||
Roku, Inc., Class A (a) |
20 | 1,384 | ||||||
Snap, Inc., Class A (a) |
573 | 5,101 | ||||||
Uber Technologies, Inc. (a) |
7,420 | 341,236 | ||||||
VeriSign, Inc. (a) |
11 | 2,295 | ||||||
Zillow Group, Inc., Class C (a) |
30 | 1,372 | ||||||
|
|
|||||||
2,917,588 | ||||||||
|
|
|||||||
Media 0.4% |
||||||||
Charter Communications, Inc., Class A (a) |
14 | 6,126 | ||||||
Comcast Corp., Class A |
666 | 29,517 | ||||||
FactSet Research Systems, Inc. |
23 | 9,930 | ||||||
Fox Corp., Class A |
65 | 2,035 | ||||||
Fox Corp., Class B |
31 | 891 | ||||||
Liberty Broadband Corp., Class C (a) |
17 | 1,530 | ||||||
Liberty Media Corp-Liberty Formula One, Class C (a) |
34 | 2,113 | ||||||
Liberty Media Corp-Liberty SiriusXM (a) |
25 | 642 | ||||||
News Corp., Class A |
85 | 1,702 | ||||||
Paramount Global, Class B |
97 | 1,255 | ||||||
Sirius XM Holdings, Inc. |
128 | 579 | ||||||
Walt Disney Co. (The) (a) |
309 | 25,081 | ||||||
Warner Bros Discovery, Inc. (a) |
395 | 4,294 | ||||||
|
|
|||||||
85,695 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Telecommunications 1.2% |
||||||||
Arista Networks, Inc. (a) |
139 | 25,479 | ||||||
AT&T, Inc. |
1,112 | 16,704 | ||||||
Cisco Systems, Inc. |
2,191 | 117,805 | ||||||
Corning, Inc. |
424 | 12,925 | ||||||
Juniper Networks, Inc. |
147 | 4,095 | ||||||
Motorola Solutions, Inc. |
87 | 23,584 | ||||||
T-Mobile US, Inc. (a) |
82 | 11,492 | ||||||
Verizon Communications, Inc. |
664 | 21,505 | ||||||
|
|
|||||||
233,589 | ||||||||
|
|
|||||||
Total Communications |
3,247,689 | |||||||
|
|
|||||||
Consumer Cyclical 2.9% |
||||||||
Airlines 0.0% (g) |
||||||||
Delta Air Lines, Inc. |
25 | 930 | ||||||
Southwest Airlines Co. |
14 | 383 | ||||||
|
|
|||||||
1,313 | ||||||||
|
|
|||||||
Apparel 0.1% |
||||||||
Deckers Outdoor Corp. (a) |
4 | 2,130 | ||||||
NIKE, Inc., Class B |
207 | 19,789 | ||||||
VF Corp. |
46 | 817 | ||||||
|
|
|||||||
22,736 | ||||||||
|
|
|||||||
Auto Manufacturers 0.8% |
||||||||
Cummins, Inc. |
25 | 5,701 | ||||||
Ford Motor Co. |
698 | 8,670 | ||||||
General Motors Co. |
268 | 8,836 | ||||||
Lucid Group, Inc. (a) |
143 | 801 | ||||||
PACCAR, Inc. |
97 | 8,229 | ||||||
Rivian Automotive, Inc., Class A (a) |
105 | 2,545 | ||||||
Tesla, Inc. (a) |
471 | 117,729 | ||||||
|
|
|||||||
152,511 | ||||||||
|
|
|||||||
Auto Parts & Equipment 0.1% |
||||||||
Aptiv plc, (Ireland) (a) |
49 | 4,835 | ||||||
BorgWarner, Inc. |
57 | 2,306 | ||||||
Lear Corp. |
17 | 2,221 | ||||||
|
|
|||||||
9,362 | ||||||||
|
|
|||||||
Distribution/Wholesale 0.2% |
||||||||
Copart, Inc. (a) |
120 | 5,153 | ||||||
Fastenal Co. |
101 | 5,521 | ||||||
Ferguson plc, (United Kingdom) |
40 | 6,540 | ||||||
LKQ Corp. |
42 | 2,099 | ||||||
Pool Corp. |
5 | 1,801 | ||||||
Watsco, Inc. |
7 | 2,557 | ||||||
WW Grainger, Inc. |
8 | 5,477 | ||||||
|
|
|||||||
29,148 | ||||||||
|
|
|||||||
Entertainment 0.0% (g) |
||||||||
Caesars Entertainment, Inc. (a) |
19 | 888 | ||||||
DraftKings, Inc., Class A (a) |
61 | 1,806 | ||||||
Live Nation Entertainment, Inc. (a) |
26 | 2,200 | ||||||
Vail Resorts, Inc. |
7 | 1,464 | ||||||
|
|
|||||||
6,358 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Food Service 0.0% (g) |
||||||||
Aramark |
46 | 1,610 | ||||||
|
|
|||||||
Home Builders 0.1% |
||||||||
D.R. Horton, Inc. |
42 | 4,515 | ||||||
Lennar Corp., Class A |
33 | 3,729 | ||||||
NVR, Inc. (a) |
| (h) | 2,242 | |||||
PulteGroup, Inc. |
25 | 1,842 | ||||||
|
|
|||||||
12,328 | ||||||||
|
|
|||||||
Home Furnishings 0.0% (g) |
||||||||
Whirlpool Corp. |
6 | 862 | ||||||
|
|
|||||||
Leisure Time 0.0% (g) |
||||||||
Carnival Corp. (a) |
179 | 2,456 | ||||||
Royal Caribbean Cruises Ltd. (a) |
41 | 3,763 | ||||||
|
|
|||||||
6,219 | ||||||||
|
|
|||||||
Lodging 0.1% |
||||||||
Hilton Worldwide Holdings, Inc. |
47 | 7,038 | ||||||
Hyatt Hotels Corp., Class A |
14 | 1,532 | ||||||
Las Vegas Sands Corp. |
47 | 2,159 | ||||||
Marriott International, Inc., Class A |
47 | 9,269 | ||||||
MGM Resorts International |
64 | 2,355 | ||||||
Wynn Resorts Ltd. |
10 | 891 | ||||||
|
|
|||||||
23,244 | ||||||||
|
|
|||||||
Retail 1.5% |
||||||||
AutoZone, Inc. (a) |
3 | 6,624 | ||||||
Bath & Body Works, Inc. |
34 | 1,138 | ||||||
Best Buy Co., Inc. |
42 | 2,884 | ||||||
Burlington Stores, Inc. (a) |
10 | 1,406 | ||||||
CarMax, Inc. (a) |
29 | 2,032 | ||||||
Chipotle Mexican Grill, Inc., Class A (a) |
5 | 8,251 | ||||||
Costco Wholesale Corp. |
74 | 41,836 | ||||||
Darden Restaurants, Inc. |
28 | 3,939 | ||||||
Dicks Sporting Goods, Inc. |
12 | 1,329 | ||||||
Dollar General Corp. |
37 | 3,913 | ||||||
Dollar Tree, Inc. (a) |
37 | 3,902 | ||||||
Dominos Pizza, Inc. |
5 | 1,829 | ||||||
Genuine Parts Co. |
22 | 3,158 | ||||||
Home Depot, Inc. (The) |
163 | 49,374 | ||||||
Lowes Cos., Inc. |
93 | 19,351 | ||||||
Lululemon Athletica, Inc., (Canada) (a) |
19 | 7,209 | ||||||
McDonalds Corp. |
121 | 31,824 | ||||||
OReilly Automotive, Inc. (a) |
9 | 8,162 | ||||||
Ross Stores, Inc. |
52 | 5,885 | ||||||
Starbucks Corp. |
190 | 17,329 | ||||||
Target Corp. |
77 | 8,515 |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Retail continued |
||||||||
TJX Cos., Inc. (The) |
179 | 15,889 | ||||||
Tractor Supply Co. |
15 | 3,026 | ||||||
Ulta Beauty, Inc. (a) |
8 | 3,141 | ||||||
Walgreens Boots Alliance, Inc. |
123 | 2,741 | ||||||
Walmart, Inc. |
252 | 40,287 | ||||||
Yum! Brands, Inc. |
39 | 4,830 | ||||||
|
|
|||||||
299,804 | ||||||||
|
|
|||||||
Toys/Games/Hobbies 0.0% (g) |
||||||||
Hasbro, Inc. |
21 | 1,359 | ||||||
|
|
|||||||
Total Consumer Cyclical |
566,854 | |||||||
|
|
|||||||
Consumer Non-cyclical 22.1% |
||||||||
Agriculture 0.2% |
||||||||
Altria Group, Inc. |
281 | 11,795 | ||||||
Archer-Daniels-Midland Co. |
102 | 7,706 | ||||||
Bunge Ltd. |
33 | 3,544 | ||||||
Darling Ingredients, Inc. (a) |
26 | 1,377 | ||||||
Philip Morris International, Inc. |
249 | 23,039 | ||||||
|
|
|||||||
47,461 | ||||||||
|
|
|||||||
Beverages 1.3% |
||||||||
Brown-Forman Corp., Class B |
117 | 6,740 | ||||||
Coca-Cola Co. (The) |
1,736 | 97,208 | ||||||
Constellation Brands, Inc., Class A |
69 | 17,317 | ||||||
Keurig Dr Pepper, Inc. |
375 | 11,848 | ||||||
Molson Coors Beverage Co., Class B |
82 | 5,246 | ||||||
Monster Beverage Corp. (a) |
326 | 17,246 | ||||||
PepsiCo., Inc. |
587 | 99,400 | ||||||
|
|
|||||||
255,005 | ||||||||
|
|
|||||||
Biotechnology 0.6% |
||||||||
Alnylam Pharmaceuticals, Inc. (a) |
19 | 3,376 | ||||||
Amgen, Inc. |
88 | 23,774 | ||||||
Biogen, Inc. (a) |
25 | 6,458 | ||||||
BioMarin Pharmaceutical, Inc. (a) |
29 | 2,596 | ||||||
Bio-Rad Laboratories, Inc., Class A (a) |
12 | 4,347 | ||||||
Corteva, Inc. |
112 | 5,753 | ||||||
Gilead Sciences, Inc. |
206 | 15,457 | ||||||
Horizon Therapeutics Plc (a) |
33 | 3,864 | ||||||
Illumina, Inc. (a) |
92 | 12,694 | ||||||
Incyte Corp. (a) |
29 | 1,656 | ||||||
Moderna, Inc. (a) |
54 | 5,557 | ||||||
Regeneron Pharmaceuticals, Inc. (a) |
18 | 14,745 | ||||||
Royalty Pharma plc, Class A |
28 | 774 | ||||||
Seagen, Inc. (a) |
24 | 4,991 | ||||||
United Therapeutics Corp. (a) |
9 | 1,941 | ||||||
Vertex Pharmaceuticals, Inc. (a) |
43 | 14,898 | ||||||
|
|
|||||||
122,881 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Commercial Services 1.3% |
||||||||
Automatic Data Processing, Inc. |
71 | 17,041 | ||||||
Block, Inc., Class A (a) |
317 | 14,031 | ||||||
Booz Allen Hamilton Holding Corp., Class A |
24 | 2,666 | ||||||
Cintas Corp. |
17 | 8,315 | ||||||
Clarivate plc, (United Kingdom) (a) |
24 | 160 | ||||||
CoStar Group, Inc. (a) |
61 | 4,664 | ||||||
Equifax, Inc. |
23 | 4,126 | ||||||
FleetCor Technologies, Inc. (a) |
40 | 10,215 | ||||||
Gartner, Inc. (a) |
12 | 4,160 | ||||||
Global Payments, Inc. |
152 | 17,563 | ||||||
MarketAxess Holdings, Inc. |
20 | 4,302 | ||||||
Moodys Corp. |
102 | 32,237 | ||||||
Paylocity Holding Corp. (a) |
7 | 1,328 | ||||||
PayPal Holdings, Inc. (a) |
626 | 36,588 | ||||||
Quanta Services, Inc. |
26 | 4,776 | ||||||
Robert Half, Inc. |
22 | 1,634 | ||||||
Rollins, Inc. |
53 | 1,992 | ||||||
S&P Global, Inc. |
211 | 77,176 | ||||||
Toast, Inc., Class A (a) |
160 | 2,989 | ||||||
TransUnion |
33 | 2,359 | ||||||
U-Haul Holding Co., Class B |
23 | 1,230 | ||||||
United Rentals, Inc. |
13 | 5,612 | ||||||
Verisk Analytics, Inc., Class A |
25 | 5,841 | ||||||
|
|
|||||||
261,005 | ||||||||
|
|
|||||||
Cosmetics/Personal Care 0.4% |
||||||||
Colgate-Palmolive Co. |
116 | 8,277 | ||||||
Estee Lauder Cos., Inc. (The), Class A |
38 | 5,553 | ||||||
Kenvue, Inc. |
251 | 5,034 | ||||||
Procter & Gamble Co. (The) |
397 | 57,866 | ||||||
|
|
|||||||
76,730 | ||||||||
|
|
|||||||
Food 0.3% |
||||||||
Albertsons Cos., Inc., Class A |
50 | 1,127 | ||||||
Campbell Soup Co. |
32 | 1,298 | ||||||
Conagra Brands, Inc. |
92 | 2,535 | ||||||
General Mills, Inc. |
106 | 6,778 | ||||||
Hershey Co. (The) |
23 | 4,699 | ||||||
Hormel Foods Corp. |
52 | 1,979 | ||||||
J M Smucker Co. (The) |
22 | 2,653 | ||||||
Kellogg Co. |
49 | 2,929 | ||||||
Kraft Heinz Co. (The) |
172 | 5,773 | ||||||
Kroger Co. (The) |
124 | 5,558 | ||||||
Lamb Weston Holdings, Inc. |
18 | 1,701 | ||||||
McCormick & Co., Inc. |
42 | 3,214 | ||||||
Mondelez International, Inc., Class A |
242 | 16,827 | ||||||
Sysco Corp. |
75 | 4,949 | ||||||
Tyson Foods, Inc., Class A |
53 | 2,673 | ||||||
|
|
|||||||
64,693 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Healthcare - Products 3.7% |
||||||||
Abbott Laboratories |
291 | 28,230 | ||||||
Align Technology, Inc. (a) |
12 | 3,716 | ||||||
Avantor, Inc. (a) |
382 | 8,044 | ||||||
Baxter International, Inc. |
73 | 2,756 | ||||||
Bio-Techne Corp. |
93 | 6,346 | ||||||
Boston Scientific Corp. (a) |
224 | 11,833 | ||||||
Cooper Cos., Inc. (The) |
8 | 2,594 | ||||||
Danaher Corp. |
1,072 | 266,001 | ||||||
DENTSPLY SIRONA, Inc. |
22 | 758 | ||||||
Edwards Lifesciences Corp. (a) |
98 | 6,767 | ||||||
Exact Sciences Corp. (a) |
31 | 2,134 | ||||||
GE HealthCare Technologies, Inc. |
73 | 4,960 | ||||||
Hologic, Inc. (a) |
37 | 2,549 | ||||||
IDEXX Laboratories, Inc. (a) |
13 | 5,720 | ||||||
Insulet Corp. (a) |
11 | 1,735 | ||||||
Intuitive Surgical, Inc. (a) |
58 | 16,915 | ||||||
Medtronic plc, (Ireland) |
222 | 17,400 | ||||||
Repligen Corp. (a) |
30 | 4,806 | ||||||
ResMed, Inc. |
24 | 3,565 | ||||||
Revvity, Inc. |
74 | 8,169 | ||||||
STERIS plc |
15 | 3,302 | ||||||
Stryker Corp. |
56 | 15,224 | ||||||
Teleflex, Inc. |
7 | 1,340 | ||||||
Thermo Fisher Scientific, Inc. |
554 | 280,298 | ||||||
Waters Corp. (a) |
31 | 8,552 | ||||||
West Pharmaceutical Services, Inc. |
43 | 16,154 | ||||||
Zimmer Biomet Holdings, Inc. |
34 | 3,842 | ||||||
|
|
|||||||
733,710 | ||||||||
|
|
|||||||
Healthcare - Services 5.3% |
||||||||
Catalent, Inc. (a) |
202 | 9,217 | ||||||
Centene Corp. (a) |
86 | 5,927 | ||||||
Charles River Laboratories International, Inc. (a) |
30 | 5,902 | ||||||
DaVita, Inc. (a) |
8 | 740 | ||||||
Elevance Health, Inc. |
41 | 17,914 | ||||||
HCA Healthcare, Inc. |
34 | 8,451 | ||||||
Humana, Inc. |
21 | 10,191 | ||||||
IQVIA Holdings, Inc. (a) |
109 | 21,395 | ||||||
Laboratory Corp. of America Holdings |
15 | 2,957 | ||||||
Molina Healthcare, Inc. (a) |
8 | 2,619 | ||||||
Quest Diagnostics, Inc. |
16 | 1,968 | ||||||
UnitedHealth Group, Inc. |
1,895 | 955,437 | ||||||
Universal Health Services, Inc., Class B |
10 | 1,286 | ||||||
|
|
|||||||
1,044,004 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Household Products/Wares 0.1% |
||||||||
Avery Dennison Corp. |
14 | 2,495 | ||||||
Church & Dwight Co., Inc. |
36 | 3,303 | ||||||
Clorox Co. (The) |
19 | 2,490 | ||||||
Kimberly-Clark Corp. |
51 | 6,108 | ||||||
|
|
|||||||
14,396 | ||||||||
|
|
|||||||
Pharmaceuticals 8.9% |
||||||||
AbbVie, Inc. |
290 | 43,282 | ||||||
Becton Dickinson & Co. |
48 | 12,462 | ||||||
Bristol-Myers Squibb Co. |
2,358 | 136,868 | ||||||
Cardinal Health, Inc. |
45 | 3,910 | ||||||
Cencora, Inc. |
34 | 6,063 | ||||||
Cigna Group (The) |
51 | 14,461 | ||||||
CVS Health Corp. |
216 | 15,102 | ||||||
Dexcom, Inc. (a) |
63 | 5,914 | ||||||
Eli Lilly & Co. |
901 | 484,133 | ||||||
Henry Schein, Inc. (a) |
21 | 1,545 | ||||||
Jazz Pharmaceuticals plc (a) |
3 | 414 | ||||||
Johnson & Johnson |
2,724 | 424,263 | ||||||
McKesson Corp. |
23 | 9,997 | ||||||
Merck & Co., Inc. |
2,866 | 295,072 | ||||||
Neurocrine Biosciences, Inc. (a) |
11 | 1,207 | ||||||
Organon & Co. |
245 | 4,253 | ||||||
Pfizer, Inc. |
6,396 | 212,149 | ||||||
Viatris, Inc. |
1,360 | 13,409 | ||||||
Zoetis, Inc., Class A |
518 | 90,077 | ||||||
|
|
|||||||
1,774,581 | ||||||||
|
|
|||||||
Total Consumer Non-cyclical |
4,394,466 | |||||||
|
|
|||||||
Energy 3.2% |
||||||||
Energy - Alternate Sources 0.1% |
||||||||
Enphase Energy, Inc. (a) |
63 | 7,616 | ||||||
First Solar, Inc. (a) |
48 | 7,801 | ||||||
SolarEdge Technologies, Inc., (Israel) (a) |
26 | 3,385 | ||||||
|
|
|||||||
18,802 | ||||||||
|
|
|||||||
Oil & Gas 1.2% |
||||||||
APA Corp. |
45 | 1,853 | ||||||
Chesapeake Energy Corp. |
17 | 1,481 | ||||||
Chevron Corp. |
302 | 50,887 | ||||||
ConocoPhillips |
205 | 24,510 | ||||||
Coterra Energy, Inc. |
129 | 3,482 | ||||||
Devon Energy Corp. |
112 | 5,366 | ||||||
Diamondback Energy, Inc. |
30 | 4,592 | ||||||
EOG Resources, Inc. |
98 | 12,426 | ||||||
EQT Corp. |
60 | 2,450 | ||||||
Exxon Mobil Corp. |
671 | 78,839 | ||||||
Hess Corp. |
42 | 6,385 | ||||||
HF Sinclair Corp. |
47 | 2,685 |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Oil & Gas continued |
||||||||
Marathon Oil Corp. |
116 | 3,102 | ||||||
Marathon Petroleum Corp. |
74 | 11,229 | ||||||
Occidental Petroleum Corp. |
112 | 7,235 | ||||||
Ovintiv, Inc. |
42 | 1,979 | ||||||
Phillips 66 |
78 | 9,328 | ||||||
Pioneer Natural Resources Co. |
40 | 9,185 | ||||||
Texas Pacific Land Corp. |
1 | 1,231 | ||||||
Valero Energy Corp. |
62 | 8,724 | ||||||
|
|
|||||||
246,969 | ||||||||
|
|
|||||||
Oil & Gas Services 1.8% |
||||||||
Baker Hughes Co., Class A |
164 | 5,790 | ||||||
Halliburton Co. |
144 | 5,837 | ||||||
Schlumberger NV |
5,834 | 340,117 | ||||||
|
|
|||||||
351,744 | ||||||||
|
|
|||||||
Pipelines 0.1% |
||||||||
Cheniere Energy, Inc. |
35 | 5,738 | ||||||
Kinder Morgan, Inc. |
275 | 4,565 | ||||||
ONEOK, Inc. |
96 | 6,082 | ||||||
Targa Resources Corp. |
24 | 2,047 | ||||||
Williams Cos., Inc. (The) |
175 | 5,881 | ||||||
|
|
|||||||
24,313 | ||||||||
|
|
|||||||
Total Energy |
641,828 | |||||||
|
|
|||||||
Financial 18.2% |
||||||||
Banks 6.7% |
||||||||
Bank of America Corp. |
19,195 | 525,564 | ||||||
Bank of New York Mellon Corp. (The) |
620 | 26,432 | ||||||
Citigroup, Inc. |
1,267 | 52,095 | ||||||
Citizens Financial Group, Inc. |
540 | 14,477 | ||||||
Fifth Third Bancorp |
654 | 16,565 | ||||||
First Citizens BancShares, Inc., Class A |
11 | 14,738 | ||||||
First Horizon Corp. |
592 | 6,523 | ||||||
Goldman Sachs Group, Inc. (The) |
219 | 70,850 | ||||||
Huntington Bancshares, Inc. |
1,525 | 15,863 | ||||||
KeyCorp. |
1,119 | 12,041 | ||||||
M&T Bank Corp. |
152 | 19,238 | ||||||
Morgan Stanley |
3,701 | 302,260 | ||||||
Northern Trust Corp. |
134 | 9,310 | ||||||
PNC Financial Services Group, Inc. (The) |
294 | 36,105 | ||||||
Regions Financial Corp. |
955 | 16,429 | ||||||
State Street Corp. |
248 | 16,609 | ||||||
Truist Financial Corp. |
1,010 | 28,895 | ||||||
US Bancorp |
1,114 | 36,813 | ||||||
Webster Financial Corp. |
274 | 11,032 | ||||||
Wells Fargo & Co. |
2,353 | 96,153 | ||||||
|
|
|||||||
1,327,992 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Diversified Financial Services 4.4% |
||||||||
Ally Financial, Inc. |
174 | 4,651 | ||||||
American Express Co. |
421 | 62,785 | ||||||
Ameriprise Financial, Inc. |
73 | 24,096 | ||||||
Apollo Global Management, Inc. |
255 | 22,928 | ||||||
BlackRock, Inc., Class A |
65 | 42,163 | ||||||
Capital One Financial Corp. |
291 | 28,282 | ||||||
Cboe Global Markets, Inc. |
72 | 11,224 | ||||||
Charles Schwab Corp. (The) |
919 | 50,447 | ||||||
CME Group, Inc., Class A |
244 | 48,883 | ||||||
Coinbase Global, Inc., Class A (a) |
94 | 7,022 | ||||||
Discover Financial Services |
222 | 19,200 | ||||||
Franklin Resources, Inc. |
224 | 5,504 | ||||||
Intercontinental Exchange, Inc. |
402 | 44,222 | ||||||
Invesco Ltd. |
220 | 3,198 | ||||||
LPL Financial Holdings, Inc. |
50 | 11,904 | ||||||
Mastercard, Inc., Class A |
506 | 200,332 | ||||||
Nasdaq, Inc. |
204 | 9,924 | ||||||
Raymond James Financial, Inc. |
181 | 18,173 | ||||||
SEI Investments Co. |
79 | 4,774 | ||||||
Synchrony Financial |
433 | 13,224 | ||||||
T Rowe Price Group, Inc. |
142 | 14,855 | ||||||
Tradeweb Markets, Inc., Class A |
69 | 5,532 | ||||||
Visa, Inc., Class A |
995 | 228,824 | ||||||
|
|
|||||||
882,147 | ||||||||
|
|
|||||||
Insurance 5.2% |
||||||||
Aflac, Inc. |
434 | 33,340 | ||||||
Allstate Corp. (The) |
158 | 17,609 | ||||||
American Financial Group, Inc. |
49 | 5,525 | ||||||
American International Group, Inc. |
534 | 32,375 | ||||||
Aon plc, Class A |
120 | 39,027 | ||||||
Arch Capital Group Ltd., (Bermuda) (a) |
300 | 23,921 | ||||||
Arthur J Gallagher & Co. |
142 | 32,333 | ||||||
Assurant, Inc. |
38 | 5,474 | ||||||
Berkshire Hathaway, Inc., Class B (a) |
792 | 277,576 | ||||||
Brown & Brown, Inc. |
133 | 9,291 | ||||||
Chubb Ltd., (Switzerland) |
267 | 55,496 | ||||||
Cincinnati Financial Corp. |
92 | 9,392 | ||||||
Equitable Holdings, Inc. |
214 | 6,070 | ||||||
Erie Indemnity Co., Class A |
15 | 4,294 | ||||||
Everest Group Ltd., (Bermuda) |
31 | 11,695 | ||||||
Fidelity National Financial, Inc. |
150 | 6,178 | ||||||
Globe Life, Inc. |
109 | 11,808 | ||||||
Hartford Financial Services Group, Inc. (The) |
274 | 19,440 | ||||||
Loews Corp. |
140 | 8,839 | ||||||
Markel Group, Inc. (a) |
8 | 12,098 | ||||||
Marsh & McLennan Cos., Inc. |
300 | 57,036 | ||||||
MetLife, Inc. |
496 | 31,214 | ||||||
Principal Financial Group, Inc. |
224 | 16,128 |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Insurance continued |
||||||||
Progressive Corp. (The) |
1,564 | 217,914 | ||||||
Prudential Financial, Inc. |
289 | 27,467 | ||||||
Travelers Cos., Inc. (The) |
142 | 23,205 | ||||||
Willis Towers Watson plc, (United Kingdom) |
61 | 12,842 | ||||||
WR Berkley Corp. |
129 | 8,213 | ||||||
|
|
|||||||
1,015,800 | ||||||||
|
|
|||||||
Private Equity 0.4% |
||||||||
Ares Management Corp., Class A |
106 | 10,854 | ||||||
Blackstone, Inc. |
431 | 46,213 | ||||||
Carlyle Group, Inc. (The) |
147 | 4,419 | ||||||
KKR & Co., Inc. |
355 | 21,846 | ||||||
|
|
|||||||
83,332 | ||||||||
|
|
|||||||
Real Estate 0.0% (g) |
||||||||
CBRE Group, Inc., Class A (a) |
58 | 4,270 | ||||||
|
|
|||||||
REITS 1.5% |
||||||||
Alexandria Real Estate Equities, Inc. |
27 | 2,664 | ||||||
American Homes 4 Rent, Class A |
35 | 1,165 | ||||||
American Tower Corp. |
1,014 | 166,827 | ||||||
Annaly Capital Management, Inc. |
252 | 4,733 | ||||||
AvalonBay Communities, Inc. |
24 | 4,049 | ||||||
Boston Properties, Inc. |
27 | 1,604 | ||||||
Camden Property Trust |
12 | 1,175 | ||||||
Crown Castle, Inc. |
71 | 6,533 | ||||||
Digital Realty Trust, Inc. |
48 | 5,757 | ||||||
Equinix, Inc. |
15 | 11,055 | ||||||
Equity LifeStyle Properties, Inc. |
14 | 920 | ||||||
Equity Residential |
63 | 3,689 | ||||||
Essex Property Trust, Inc. |
10 | 2,129 | ||||||
Extra Space Storage, Inc. |
34 | 4,078 | ||||||
Gaming and Leisure Properties, Inc. |
39 | 1,757 | ||||||
Healthcare Realty Trust, Inc., Class A |
41 | 624 | ||||||
Healthpeak Properties, Inc. |
87 | 1,598 | ||||||
Host Hotels & Resorts, Inc. |
119 | 1,920 | ||||||
Invitation Homes, Inc. |
87 | 2,759 | ||||||
Iron Mountain, Inc. |
39 | 2,301 | ||||||
Kimco Realty Corp. |
100 | 1,751 | ||||||
Mid-America Apartment Communities, Inc. |
18 | 2,285 | ||||||
Prologis, Inc. |
155 | 17,444 | ||||||
Public Storage |
25 | 6,706 | ||||||
Realty Income Corp. |
112 | 5,605 | ||||||
Regency Centers Corp. |
22 | 1,317 | ||||||
SBA Communications Corp., Class A |
16 | 3,222 | ||||||
Simon Property Group, Inc. |
56 | 6,030 | ||||||
Sun Communities, Inc. |
13 | 1,590 | ||||||
UDR, Inc. |
31 | 1,110 | ||||||
Ventas, Inc. |
67 | 2,808 |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
REITS continued |
||||||||
VICI Properties, Inc., Class A |
153 | 4,449 | ||||||
Welltower, Inc. |
84 | 6,874 | ||||||
Weyerhaeuser Co. |
128 | 3,921 | ||||||
WP Carey, Inc. |
34 | 1,814 | ||||||
|
|
|||||||
294,263 | ||||||||
|
|
|||||||
Total Financial |
3,607,804 | |||||||
|
|
|||||||
Industrial 7.9% |
||||||||
Aerospace/Defense 0.5% |
||||||||
Boeing Co. (The) (a) |
96 | 18,337 | ||||||
General Dynamics Corp. |
40 | 8,870 | ||||||
HEICO Corp. |
4 | 613 | ||||||
HEICO Corp., Class A |
9 | 1,186 | ||||||
Howmet Aerospace, Inc. |
63 | 2,901 | ||||||
L3Harris Technologies, Inc. |
32 | 5,535 | ||||||
Lockheed Martin Corp. |
38 | 15,686 | ||||||
Northrop Grumman Corp. |
23 | 10,343 | ||||||
RTX Corp. |
248 | 17,814 | ||||||
TransDigm Group, Inc. (a) |
8 | 7,068 | ||||||
|
|
|||||||
88,353 | ||||||||
|
|
|||||||
Building Materials 0.2% |
||||||||
Builders FirstSource, Inc. (a) |
25 | 3,060 | ||||||
Carrier Global Corp. |
141 | 7,806 | ||||||
Fortune Brands Innovations, Inc. |
27 | 1,679 | ||||||
Johnson Controls International plc |
119 | 6,317 | ||||||
Lennox International, Inc. |
4 | 1,599 | ||||||
Martin Marietta Materials, Inc. |
12 | 4,918 | ||||||
Masco Corp. |
36 | 1,950 | ||||||
Mohawk Industries, Inc. (a) |
9 | 749 | ||||||
Owens Corning |
18 | 2,424 | ||||||
Trane Technologies plc, (Ireland) |
38 | 7,746 | ||||||
Vulcan Materials Co. |
25 | 5,134 | ||||||
|
|
|||||||
43,382 | ||||||||
|
|
|||||||
Electrical Components & Equipments 0.1% |
||||||||
AMETEK, Inc. |
43 | 6,325 | ||||||
Emerson Electric Co. |
97 | 9,412 | ||||||
Generac Holdings, Inc. (a) |
10 | 1,072 | ||||||
|
|
|||||||
16,809 | ||||||||
|
|
|||||||
Electronics 0.7% |
||||||||
Agilent Technologies, Inc. |
176 | 19,692 | ||||||
Allegion plc, (Ireland) |
7 | 774 | ||||||
Amphenol Corp., Class A |
306 | 25,708 | ||||||
Arrow Electronics, Inc. (a) |
35 | 4,407 | ||||||
Fortive Corp. |
62 | 4,608 | ||||||
Garmin Ltd., (Switzerland) |
23 | 2,434 | ||||||
Honeywell International, Inc. |
110 | 20,309 | ||||||
Hubbell, Inc., Class B |
9 | 2,918 | ||||||
Jabil, Inc. |
76 | 9,600 |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Electronics continued |
||||||||
Keysight Technologies, Inc. (a) |
96 | 12,668 | ||||||
Mettler-Toledo International, Inc. (a) |
12 | 13,526 | ||||||
Sensata Technologies Holding plc |
16 | 604 | ||||||
TE Connectivity Ltd. |
166 | 20,537 | ||||||
Trimble, Inc. (a) |
120 | 6,436 | ||||||
|
|
|||||||
144,221 | ||||||||
|
|
|||||||
Engineering & Construction 0.0% (g) |
||||||||
AECOM |
25 | 2,062 | ||||||
Jacobs Solutions, Inc. |
22 | 3,041 | ||||||
|
|
|||||||
5,103 | ||||||||
|
|
|||||||
Environmental Control 0.1% |
||||||||
Pentair plc, (United Kingdom) |
24 | 1,536 | ||||||
Republic Services, Inc., Class A |
41 | 5,897 | ||||||
Waste Connections, Inc., (Canada) |
42 | 5,694 | ||||||
Waste Management, Inc. |
70 | 10,725 | ||||||
|
|
|||||||
23,852 | ||||||||
|
|
|||||||
Hand/Machine Tools 0.0% (g) |
||||||||
Snap-on, Inc. |
10 | 2,428 | ||||||
Stanley Black & Decker, Inc. |
30 | 2,483 | ||||||
|
|
|||||||
4,911 | ||||||||
|
|
|||||||
Machinery - Construction & Mining 0.1% |
||||||||
Caterpillar, Inc. |
87 | 23,752 | ||||||
|
|
|||||||
Machinery - Diversified 0.3% |
||||||||
Cognex Corp. |
86 | 3,663 | ||||||
Deere & Co. |
47 | 17,791 | ||||||
Dover Corp. |
21 | 2,922 | ||||||
Graco, Inc. |
20 | 1,492 | ||||||
IDEX Corp. |
9 | 1,932 | ||||||
Ingersoll Rand, Inc. |
67 | 4,281 | ||||||
Nordson Corp. |
5 | 1,104 | ||||||
Otis Worldwide Corp. |
57 | 4,609 | ||||||
Rockwell Automation, Inc. |
20 | 5,742 | ||||||
Toro Co. (The) |
18 | 1,472 | ||||||
Westinghouse Air Brake Technologies Corp. |
31 | 3,334 | ||||||
Xylem, Inc. |
39 | 3,552 | ||||||
|
|
|||||||
51,894 | ||||||||
|
|
|||||||
Miscellaneous Manufacturers 0.4% |
||||||||
3M Co. |
94 | 8,783 | ||||||
AO Smith Corp. |
18 | 1,183 | ||||||
Axon Enterprise, Inc. (a) |
11 | 2,170 | ||||||
Carlisle Cos., Inc. |
8 | 2,132 | ||||||
Eaton Corp. plc |
71 | 15,086 | ||||||
General Electric Co. |
188 | 20,770 | ||||||
Illinois Tool Works, Inc. |
47 | 10,798 | ||||||
Parker-Hannifin Corp. |
22 | 8,568 | ||||||
Teledyne Technologies, Inc. (a) |
23 | 9,557 | ||||||
Textron, Inc. |
32 | 2,487 | ||||||
|
|
|||||||
81,534 | ||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Packaging & Containers 0.1% |
||||||||
Amcor plc, (United Kingdom) |
294 | 2,693 | ||||||
Ball Corp. |
55 | 2,756 | ||||||
Crown Holdings, Inc. |
19 | 1,705 | ||||||
Packaging Corp. of America |
20 | 3,047 | ||||||
Sealed Air Corp. |
22 | 729 | ||||||
Westrock Co. |
50 | 1,792 | ||||||
|
|
|||||||
12,722 | ||||||||
|
|
|||||||
Shipbuilding 0.0% (g) |
||||||||
Huntington Ingalls Industries, Inc. |
6 | 1,260 | ||||||
|
|
|||||||
Transportation 5.4% |
||||||||
CH Robinson Worldwide, Inc. |
405 | 34,914 | ||||||
CSX Corp. |
5,836 | 179,460 | ||||||
Expeditors International of Washington, Inc. |
512 | 58,691 | ||||||
FedEx Corp. |
801 | 212,250 | ||||||
JB Hunt Transport Services, Inc. |
17 | 3,187 | ||||||
Knight-Swift Transportation Holdings, Inc., Class A |
38 | 1,909 | ||||||
Norfolk Southern Corp. |
42 | 8,332 | ||||||
Old Dominion Freight Line, Inc. |
17 | 6,807 | ||||||
Union Pacific Corp. |
104 | 21,204 | ||||||
United Parcel Service, Inc., Class B |
3,550 | 553,321 | ||||||
|
|
|||||||
1,080,075 | ||||||||
|
|
|||||||
Total Industrial |
1,577,868 | |||||||
|
|
|||||||
Technology 27.1% |
||||||||
Computers 8.2% |
||||||||
Accenture plc, (Ireland), Class A |
106 | 32,637 | ||||||
Apple, Inc. |
8,399 | 1,438,040 | ||||||
Cognizant Technology Solutions Corp., Class A |
97 | 6,567 | ||||||
Crowdstrike Holdings, Inc., Class A (a) |
126 | 21,054 | ||||||
Dell Technologies, Inc., Class C |
139 | 9,548 | ||||||
EPAM Systems, Inc. (a) |
9 | 2,337 | ||||||
Fortinet, Inc. (a) |
404 | 23,731 | ||||||
Hewlett Packard Enterprise Co. |
733 | 12,728 | ||||||
HP, Inc. |
496 | 12,755 | ||||||
International Business Machines Corp. |
157 | 21,964 | ||||||
Leidos Holdings, Inc. |
24 | 2,238 | ||||||
NetApp, Inc. |
111 | 8,426 | ||||||
Seagate Technology Holdings plc |
99 | 6,552 | ||||||
Super Micro Computer, Inc. (a) |
25 | 6,985 | ||||||
Western Digital Corp. (a) |
171 | 7,805 | ||||||
Zscaler, Inc. (a) |
48 | 7,531 | ||||||
|
|
|||||||
1,620,898 | ||||||||
|
|
|||||||
Office/Business Equipment 0.0% (g) |
||||||||
Zebra Technologies Corp., Class A (a) |
26 | 6,136 | ||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Semiconductors 6.4% |
||||||||
Advanced Micro Devices, Inc. (a) |
756 | 77,759 | ||||||
Analog Devices, Inc. |
236 | 41,347 | ||||||
Applied Materials, Inc. |
393 | 54,471 | ||||||
Broadcom, Inc. |
194 | 160,747 | ||||||
Entegris, Inc. |
68 | 6,349 | ||||||
Intel Corp. |
1,957 | 69,571 | ||||||
KLA Corp. |
64 | 29,252 | ||||||
Lam Research Corp. |
63 | 39,523 | ||||||
Lattice Semiconductor Corp. (a) |
61 | 5,207 | ||||||
Marvell Technology, Inc. |
404 | 21,883 | ||||||
Microchip Technology, Inc. |
255 | 19,940 | ||||||
Micron Technology, Inc. |
516 | 35,092 | ||||||
Monolithic Power Systems, Inc. |
21 | 9,646 | ||||||
NVIDIA Corp. |
1,156 | 502,945 | ||||||
NXP Semiconductors NV, (Netherlands) |
122 | 24,389 | ||||||
ON Semiconductor Corp. (a) |
203 | 18,863 | ||||||
Qorvo, Inc. (a) |
45 | 4,264 | ||||||
QUALCOMM, Inc. |
521 | 57,892 | ||||||
Skyworks Solutions, Inc. |
73 | 7,210 | ||||||
Teradyne, Inc. |
65 | 6,492 | ||||||
Texas Instruments, Inc. |
423 | 67,184 | ||||||
Wolfspeed, Inc. (a) |
57 | 2,172 | ||||||
|
|
|||||||
1,262,198 | ||||||||
|
|
|||||||
Software 12.5% |
||||||||
Activision Blizzard, Inc. |
133 | 12,427 | ||||||
Adobe, Inc. (a) |
256 | 130,752 | ||||||
Akamai Technologies, Inc. (a) |
26 | 2,788 | ||||||
ANSYS, Inc. (a) |
49 | 14,512 | ||||||
Aspen Technology, Inc. (a) |
16 | 3,271 | ||||||
Atlassian Corp., (Australia), Class A (a) |
86 | 17,237 | ||||||
Autodesk, Inc. (a) |
119 | 24,633 | ||||||
Bentley Systems, Inc., Class B |
109 | 5,445 | ||||||
BILL Holdings, Inc. (a) |
52 | 5,680 | ||||||
Broadridge Financial Solutions, Inc. |
23 | 4,053 | ||||||
Cadence Design Systems, Inc. (a) |
153 | 35,879 | ||||||
Ceridian HCM Holding, Inc. (a) |
23 | 1,577 | ||||||
Cloudflare, Inc., Class A (a) |
45 | 2,852 | ||||||
Confluent, Inc., Class A (a) |
91 | 2,706 | ||||||
Datadog, Inc., Class A (a) |
141 | 12,836 | ||||||
DocuSign, Inc., Class A (a) |
113 | 4,749 | ||||||
Dropbox, Inc., Class A (a) |
138 | 3,761 | ||||||
Dynatrace, Inc. (a) |
138 | 6,459 | ||||||
Electronic Arts, Inc. |
43 | 5,230 | ||||||
Fair Isaac Corp. (a) |
14 | 12,058 | ||||||
Fidelity National Information Services, Inc. |
342 | 18,901 |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Software continued |
||||||||
Fiserv, Inc. (a) |
390 | 44,016 | ||||||
HubSpot, Inc. (a) |
27 | 13,419 | ||||||
Intuit, Inc. |
158 | 80,562 | ||||||
Jack Henry & Associates, Inc. |
40 | 5,995 | ||||||
Manhattan Associates, Inc. (a) |
31 | 6,148 | ||||||
Microsoft Corp. |
4,740 | 1,496,771 | ||||||
MongoDB, Inc., Class A (a) |
12 | 4,096 | ||||||
MSCI, Inc., Class A |
47 | 24,338 | ||||||
Oracle Corp. |
919 | 97,340 | ||||||
Palantir Technologies, Inc., Class A (a) |
1,024 | 16,392 | ||||||
Paychex, Inc. |
60 | 6,932 | ||||||
Paycom Software, Inc. |
9 | 2,211 | ||||||
PTC, Inc. (a) |
64 | 9,056 | ||||||
ROBLOX Corp., Class A (a) |
69 | 2,005 | ||||||
Roper Technologies, Inc. |
60 | 29,273 | ||||||
Salesforce, Inc. (a) |
549 | 111,407 | ||||||
ServiceNow, Inc. (a) |
115 | 64,145 | ||||||
Snowflake, Inc., Class A (a) |
43 | 6,535 | ||||||
Splunk, Inc. (a) |
85 | 12,504 | ||||||
SS&C Technologies Holdings, Inc. |
46 | 2,435 | ||||||
Synopsys, Inc. (a) |
86 | 39,302 | ||||||
Take-Two Interactive Software, Inc. (a) |
29 | 4,141 | ||||||
Twilio, Inc., Class A (a) |
27 | 1,596 | ||||||
Tyler Technologies, Inc. (a) |
24 | 9,104 | ||||||
UiPath, Inc., Class A (a) |
193 | 3,302 | ||||||
Unity Software, Inc. (a) |
127 | 3,992 | ||||||
Veeva Systems, Inc., Class A (a) |
22 | 4,531 | ||||||
VMware, Inc., Class A (a) |
143 | 23,752 | ||||||
Workday, Inc., Class A (a) |
117 | 25,110 | ||||||
Zoom Video Communications, Inc., Class A (a) |
130 | 9,101 | ||||||
ZoomInfo Technologies, Inc., Class A (a) |
146 | 2,401 | ||||||
|
|
|||||||
2,489,718 | ||||||||
|
|
|||||||
Total Technology |
5,378,950 | |||||||
|
|
|||||||
Utilities 0.7% |
||||||||
Electric 0.7% |
||||||||
AES Corp. (The) |
91 | 1,378 | ||||||
Alliant Energy Corp. |
22 | 1,090 | ||||||
Ameren Corp. |
37 | 2,771 | ||||||
American Electric Power Co., Inc. |
97 | 7,320 | ||||||
CenterPoint Energy, Inc. |
86 | 2,312 | ||||||
CMS Energy Corp. |
31 | 1,637 | ||||||
Consolidated Edison, Inc. |
63 | 5,358 | ||||||
Constellation Energy Corp. |
56 | 6,138 | ||||||
Dominion Energy, Inc. |
137 | 6,101 | ||||||
DTE Energy Co. |
36 | 3,538 | ||||||
Duke Energy Corp. |
139 | 12,279 | ||||||
Edison International |
68 | 4,313 |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Electric continued |
||||||||
Entergy Corp. |
37 | 3,388 | ||||||
Evergy, Inc. |
39 | 1,967 | ||||||
Eversource Energy |
61 | 3,537 | ||||||
Exelon Corp. |
177 | 6,695 | ||||||
FirstEnergy Corp. |
85 | 2,901 | ||||||
NextEra Energy, Inc. |
332 | 19,041 | ||||||
NRG Energy, Inc. |
39 | 1,501 | ||||||
PG&E Corp. (a) |
342 | 5,523 | ||||||
PPL Corp. |
85 | 1,997 | ||||||
Public Service Enterprise Group, Inc. |
83 | 4,705 | ||||||
Sempra |
104 | 7,086 | ||||||
Southern Co. (The) |
194 | 12,546 | ||||||
Vistra Corp. |
49 | 1,641 | ||||||
WEC Energy Group, Inc. |
51 | 4,113 | ||||||
Xcel Energy, Inc. |
95 | 5,450 | ||||||
|
|
|||||||
136,326 | ||||||||
|
|
|||||||
Gas 0.0% (g) |
||||||||
Atmos Energy Corp. |
23 | 2,432 | ||||||
NiSource, Inc. |
33 | 803 | ||||||
|
|
|||||||
3,235 | ||||||||
|
|
|||||||
Water 0.0% (g) |
||||||||
American Water Works Co., Inc. |
28 | 3,503 | ||||||
Essential Utilities, Inc. |
19 | 669 | ||||||
|
|
|||||||
4,172 | ||||||||
|
|
|||||||
Total Utilities |
143,733 | |||||||
|
|
|||||||
Total Common Stocks |
||||||||
(Cost $16,462,797) |
19,682,173 | |||||||
|
|
|||||||
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Short-Term Investments 0.9% |
||||||||
Time Deposits 0.9% |
||||||||
Australia & New Zealand Banking Group Ltd., 4.68%, 10/02/2023 |
13,825 | 13,825 | ||||||
Citibank NA, 4.68%, 10/02/2023 |
121,569 | 121,569 | ||||||
Skandinaviska Enskilda Banken AB, 4.68%, 10/02/2023 |
10,506 | 10,506 | ||||||
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 10/02/2023 |
22,099 | 22,099 | ||||||
|
|
|||||||
Total Short-Term Investments (Cost $167,999) |
167,999 | |||||||
|
|
|||||||
Total Investments 99.9% (Cost - $16,630,796) * |
19,850,172 | |||||||
Other Assets in Excess of Liabilities 0.1% |
23,643 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 19,873,815 | ||||||
|
|
Percentages indicated are based on net assets.
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Futures contracts outstanding as of September 30, 2023:
Exchange Traded
DESCRIPTION |
NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
E-mini Consumer Staples Select Sector Index |
20 | 12/2023 | USD | 1,447 | (49 | ) | ||||||||||||||
E-mini Financial Select Sector Index |
180 | 12/2023 | USD | 19,175 | (614 | ) | ||||||||||||||
E-mini Health Care Select Sector Index |
70 | 12/2023 | USD | 9,444 | (259 | ) | ||||||||||||||
E-mini Russell 2000 Index |
4 | 12/2023 | USD | 375 | (15 | ) | ||||||||||||||
Micro E-mini NASDAQ 100 Index |
359 | 12/2023 | USD | 11,117 | (443 | ) | ||||||||||||||
NASDAQ 100 E-mini Index |
58 | 12/2023 | USD | 17,690 | (445 | ) | ||||||||||||||
S&P 500 E-mini Index |
481 | 12/2023 | USD | 108,372 | (4,343 | ) | ||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation (depreciation) |
(6,168 | ) | ||||||||||||||||||
|
|
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS
| ||||
AS OF SEPTEMBER 30, 2023 | ||||
REIT | | Real Estate Investment Trust | ||
(a) | | Non-income producing security. | ||
(g) | | Amount rounds to less than 0.05%. | ||
(h) | | Amount rounds to less than 500 shares or principal/ $500. | ||
* | | The cost of securities is substantially the same for federal income tax purposes. | ||
USD | | United States Dollar |
Six Circles U.S. Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Summary of Investments by Industry, September 30, 2023
The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:
INDUSTRY |
PERCENTAGE | |||
Internet |
14.8 | % | ||
Software |
12.5 | % | ||
Pharmaceuticals |
8.9 | % | ||
Computers |
8.2 | % | ||
Banks |
6.7 | % | ||
Semiconductors |
6.4 | % | ||
Transportation |
5.4 | % | ||
Healthcare - Services |
5.3 | % | ||
Insurance |
5.1 | % | ||
Diversified Financial Services |
4.4 | % | ||
Healthcare - Products |
3.7 | % | ||
Oil & Gas Services |
1.8 | % | ||
Retail |
1.5 | % | ||
REITS |
1.5 | % | ||
Commercial Services |
1.3 | % | ||
Beverages |
1.3 | % | ||
Oil & Gas |
1.2 | % | ||
Telecommunications |
1.2 | % | ||
Others (Each less than 1.0%) |
8.0 | % | ||
Short-Term Investments |
0.8 | % |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks 98.1% |
||||||||
Austria 0.2% |
||||||||
Erste Group Bank AG |
408 | 14,101 | ||||||
OMV AG |
160 | 7,635 | ||||||
Verbund AG |
62 | 5,016 | ||||||
voestalpine AG |
51 | 1,381 | ||||||
|
|
|||||||
28,133 | ||||||||
|
|
|||||||
Belgium 1.7% |
||||||||
Ageas SA |
188 | 7,748 | ||||||
Anheuser-Busch InBev SA |
2,688 | 148,989 | ||||||
Dieteren Group |
10 | 1,616 | ||||||
Elia Group SA |
27 | 2,669 | ||||||
Groupe Bruxelles Lambert NV |
116 | 8,647 | ||||||
KBC Group NV |
297 | 18,496 | ||||||
Lotus Bakeries NV |
| (h) | 1,407 | |||||
Sofina SA |
18 | 3,687 | ||||||
Solvay SA |
32 | 3,576 | ||||||
UCB SA |
123 | 10,049 | ||||||
Umicore SA |
91 | 2,147 | ||||||
Warehouses De Pauw CVA |
79 | 1,941 | ||||||
|
|
|||||||
210,972 | ||||||||
|
|
|||||||
Chile 0.0% (g) |
||||||||
Antofagasta plc |
262 | 4,545 | ||||||
|
|
|||||||
China 0.0% (g) |
||||||||
Silergy Corp. |
147 | 1,393 | ||||||
|
|
|||||||
Denmark 3.8% |
||||||||
AP Moller - Maersk A/S, Class A |
3 | 4,798 | ||||||
AP Moller - Maersk A/S, Class B |
5 | 8,746 | ||||||
Carlsberg A/S, Class B |
305 | 38,504 | ||||||
Chr Hansen Holding A/S |
47 | 2,865 | ||||||
Coloplast A/S, Class B |
62 | 6,569 | ||||||
Danske Bank A/S |
810 | 18,793 | ||||||
Demant A/S (a) |
45 | 1,846 | ||||||
DSV A/S |
179 | 33,433 | ||||||
Genmab A/S (a) |
29 | 10,394 | ||||||
Novo Nordisk A/S, Class B |
3,140 | 285,914 | ||||||
Novozymes A/S, Class B |
91 | 3,650 | ||||||
Orsted AS (e) |
174 | 9,442 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Denmark continued |
||||||||
Pandora A/S |
160 | 16,527 | ||||||
ROCKWOOL A/S, Class B |
9 | 2,164 | ||||||
Tryg A/S |
417 | 7,628 | ||||||
Vestas Wind Systems A/S (a) |
977 | 20,904 | ||||||
|
|
|||||||
472,177 | ||||||||
|
|
|||||||
Finland 1.1% |
||||||||
Elisa OYJ |
63 | 2,939 | ||||||
Fortum OYJ |
406 | 4,708 | ||||||
Kesko OYJ, Class B |
120 | 2,155 | ||||||
Kone OYJ, Class B |
326 | 13,750 | ||||||
Metso Outotec OYJ |
630 | 6,604 | ||||||
Neste OYJ |
192 | 6,511 | ||||||
Nokia OYJ |
2,391 | 8,992 | ||||||
Nordea Bank Abp |
3,816 | 41,838 | ||||||
Orion OYJ, Class B |
104 | 4,069 | ||||||
Sampo OYJ, Class A |
546 | 23,602 | ||||||
Stora Enso OYJ, Class R |
254 | 3,181 | ||||||
UPM-Kymmene OYJ |
240 | 8,202 | ||||||
Wartsila OYJ Abp |
453 | 5,131 | ||||||
|
|
|||||||
131,682 | ||||||||
|
|
|||||||
France 15.2% |
||||||||
Accor SA |
81 | 2,723 | ||||||
Aeroports de Paris SA |
28 | 3,348 | ||||||
Air Liquide SA |
233 | 39,171 | ||||||
Airbus SE |
571 | 76,466 | ||||||
Alstom SA |
278 | 6,604 | ||||||
Amundi SA (e) |
72 | 4,065 | ||||||
Arkema SA |
26 | 2,576 | ||||||
AXA SA |
2,168 | 64,309 | ||||||
BioMerieux |
18 | 1,770 | ||||||
BNP Paribas SA |
1,240 | 78,832 | ||||||
Bollore SE |
353 | 1,894 | ||||||
Bouygues SA |
189 | 6,594 | ||||||
Bureau Veritas SA |
285 | 7,057 | ||||||
Capgemini SE |
73 | 12,766 | ||||||
Carrefour SA |
258 | 4,434 | ||||||
Cie de Saint-Gobain SA |
447 | 26,767 | ||||||
Cie Generale des Etablissements Michelin SCA |
303 | 9,280 | ||||||
Covivio SA |
24 | 1,048 | ||||||
Credit Agricole SA |
1,424 | 17,510 | ||||||
Danone SA |
285 | 15,734 | ||||||
Dassault Aviation SA |
21 | 3,862 | ||||||
Dassault Systemes SE |
297 | 11,033 | ||||||
Edenred SE |
294 | 18,374 | ||||||
Eiffage SA |
71 | 6,721 | ||||||
Engie SA |
1,666 | 25,548 | ||||||
EssilorLuxottica SA |
131 | 22,829 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
France continued |
||||||||
Eurazeo SE |
52 | 3,104 | ||||||
Gecina SA |
21 | 2,125 | ||||||
Getlink SE |
343 | 5,461 | ||||||
Hermes International SCA |
60 | 109,083 | ||||||
Ipsen SA |
36 | 4,690 | ||||||
Kering SA |
141 | 63,877 | ||||||
Klepierre SA |
96 | 2,353 | ||||||
La Francaise des Jeux SAEM (e) |
49 | 1,584 | ||||||
Legrand SA |
259 | 23,762 | ||||||
LOreal SA |
107 | 44,397 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
522 | 393,794 | ||||||
Orange SA |
831 | 9,535 | ||||||
Pernod Ricard SA |
632 | 105,304 | ||||||
Publicis Groupe SA |
100 | 7,575 | ||||||
Remy Cointreau SA |
71 | 8,633 | ||||||
Renault SA |
84 | 3,437 | ||||||
Safran SA |
330 | 51,723 | ||||||
Sanofi |
1,093 | 117,367 | ||||||
Sartorius Stedim Biotech |
12 | 2,862 | ||||||
Schneider Electric SE |
525 | 86,502 | ||||||
SEB SA |
12 | 1,077 | ||||||
Societe Generale SA |
861 | 20,833 | ||||||
Sodexo SA |
39 | 3,987 | ||||||
STMicroelectronics NV |
1,895 | 81,729 | ||||||
Teleperformance SE |
57 | 7,106 | ||||||
Thales SA |
102 | 14,360 | ||||||
TotalEnergies SE |
2,439 | 160,379 | ||||||
Unibail-Rodamco-Westfield (a) |
52 | 2,535 | ||||||
Valeo SE |
89 | 1,532 | ||||||
Veolia Environnement SA |
620 | 17,934 | ||||||
Vinci SA |
512 | 56,692 | ||||||
Vivendi SE |
314 | 2,747 | ||||||
Wendel SE |
31 | 2,432 | ||||||
Worldline SA (a) (e) |
281 | 7,898 | ||||||
|
|
|||||||
1,899,724 | ||||||||
|
|
|||||||
Germany 12.5% |
||||||||
adidas AG |
306 | 53,693 | ||||||
Allianz SE (Registered) |
477 | 113,453 | ||||||
BASF SE |
399 | 18,079 | ||||||
Bayer AG (Registered) |
947 | 45,495 | ||||||
Bayerische Motoren Werke AG |
138 | 14,044 | ||||||
Bechtle AG |
36 | 1,678 | ||||||
Beiersdorf AG |
46 | 5,913 | ||||||
Brenntag SE |
142 | 11,000 | ||||||
Carl Zeiss Meditec AG |
18 | 1,556 | ||||||
Commerzbank AG |
1,252 | 14,209 | ||||||
Continental AG |
48 | 3,371 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Germany continued |
||||||||
Covestro AG (a) (e) |
85 | 4,557 | ||||||
Daimler Truck Holding AG |
478 | 16,554 | ||||||
Delivery Hero SE (a) (e) |
76 | 2,168 | ||||||
Deutsche Bank AG (Registered) |
2,293 | 25,206 | ||||||
Deutsche Boerse AG |
224 | 38,747 | ||||||
Deutsche Lufthansa AG (Registered) (a) |
574 | 4,545 | ||||||
Deutsche Post AG |
958 | 38,889 | ||||||
Deutsche Telekom AG (Registered) |
1,442 | 30,250 | ||||||
E.ON SE |
2,048 | 24,218 | ||||||
Evonik Industries AG |
92 | 1,679 | ||||||
Fresenius Medical Care AG & Co. KGaA |
91 | 3,891 | ||||||
Fresenius SE & Co. KGaA |
186 | 5,768 | ||||||
GEA Group AG |
152 | 5,607 | ||||||
Hannover Rueck SE |
71 | 15,574 | ||||||
Heidelberg Materials AG |
64 | 4,932 | ||||||
HelloFresh SE (a) |
72 | 2,132 | ||||||
Henkel AG & Co. KGaA |
45 | 2,825 | ||||||
Infineon Technologies AG |
3,619 | 119,874 | ||||||
Knorr-Bremse AG |
70 | 4,436 | ||||||
LEG Immobilien SE (a) |
32 | 2,228 | ||||||
Mercedes-Benz Group AG |
356 | 24,794 | ||||||
Merck KGaA |
125 | 20,806 | ||||||
MTU Aero Engines AG |
52 | 9,347 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) |
161 | 62,737 | ||||||
Nemetschek SE |
257 | 15,617 | ||||||
Puma SE |
199 | 12,317 | ||||||
Rational AG |
5 | 3,127 | ||||||
Rheinmetall AG |
42 | 10,761 | ||||||
RWE AG |
577 | 21,409 | ||||||
SAP SE |
4,647 | 601,503 | ||||||
Scout24 SE (e) |
33 | 2,294 | ||||||
Siemens AG (Registered) |
733 | 104,788 | ||||||
Siemens Energy AG (a) |
497 | 6,473 | ||||||
Siemens Healthineers AG (e) |
128 | 6,474 | ||||||
Symrise AG, Class A |
60 | 5,754 | ||||||
Talanx AG |
74 | 4,705 | ||||||
Telefonica Deutschland Holding AG |
422 | 754 | ||||||
Volkswagen AG |
14 | 1,801 | ||||||
Vonovia SE |
325 | 7,783 | ||||||
Wacker Chemie AG |
8 | 1,196 | ||||||
Zalando SE (a) (e) |
98 | 2,179 | ||||||
|
|
|||||||
1,563,190 | ||||||||
|
|
|||||||
Hong Kong 0.3% |
||||||||
Prudential plc |
3,846 | 41,343 | ||||||
|
|
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Ireland 1.1% |
||||||||
AerCap Holdings NV (a) |
169 | 10,572 | ||||||
AIB Group plc |
1,670 | 7,485 | ||||||
Bank of Ireland Group plc |
1,247 | 12,187 | ||||||
CRH plc |
479 | 26,405 | ||||||
DCC plc |
117 | 6,552 | ||||||
Experian plc |
1,086 | 35,514 | ||||||
Flutter Entertainment plc (a) |
78 | 12,740 | ||||||
Kerry Group plc, Class A |
71 | 5,933 | ||||||
Kingspan Group plc |
148 | 11,044 | ||||||
Smurfit Kappa Group plc |
112 | 3,723 | ||||||
|
|
|||||||
132,155 | ||||||||
|
|
|||||||
Italy 2.7% |
||||||||
Amplifon SpA |
55 | 1,615 | ||||||
Assicurazioni Generali SpA |
1,187 | 24,226 | ||||||
Davide Campari-Milano NV |
1,610 | 18,957 | ||||||
DiaSorin SpA |
12 | 1,063 | ||||||
Enel SpA |
7,404 | 45,408 | ||||||
Eni SpA |
2,572 | 41,320 | ||||||
Ferrari NV |
56 | 16,488 | ||||||
FinecoBank Banca Fineco SpA |
718 | 8,665 | ||||||
Infrastrutture Wireless Italiane SpA (e) |
144 | 1,711 | ||||||
Intesa Sanpaolo SpA |
18,373 | 47,057 | ||||||
Mediobanca Banca di Credito Finanziario SpA |
651 | 8,585 | ||||||
Moncler SpA |
390 | 22,599 | ||||||
Nexi SpA (a) (e) |
684 | 4,169 | ||||||
Poste Italiane SpA (e) |
614 | 6,450 | ||||||
Prysmian SpA |
252 | 10,102 | ||||||
Recordati Industria Chimica e Farmaceutica SpA |
100 | 4,689 | ||||||
Snam SpA |
1,887 | 8,854 | ||||||
Telecom Italia SpA (a) |
4,214 | 1,314 | ||||||
Terna - Rete Elettrica Nazionale |
1,310 | 9,856 | ||||||
UniCredit SpA |
2,175 | 51,826 | ||||||
|
|
|||||||
334,954 | ||||||||
|
|
|||||||
Japan 5.1% |
||||||||
Advantest Corp. |
143 | 3,983 | ||||||
Aeon Co. Ltd. |
121 | 2,399 | ||||||
AGC, Inc. |
38 | 1,328 | ||||||
Aisin Corp. |
27 | 1,035 | ||||||
Ajinomoto Co., Inc. |
84 | 3,247 | ||||||
ANA Holdings, Inc. (a) |
30 | 622 | ||||||
Asahi Group Holdings Ltd. |
90 | 3,377 | ||||||
Asahi Intecc Co. Ltd. |
40 | 722 | ||||||
Asahi Kasei Corp. |
236 | 1,486 | ||||||
Astellas Pharma, Inc. |
339 | 4,692 | ||||||
Azbil Corp. |
21 | 654 | ||||||
Bandai Namco Holdings, Inc. |
112 | 2,286 | ||||||
BayCurrent Consulting, Inc. |
25 | 816 | ||||||
Bridgestone Corp. |
107 | 4,154 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Japan continued |
||||||||
Brother Industries Ltd. |
43 | 694 | ||||||
Canon, Inc. |
186 | 4,490 | ||||||
Capcom Co. Ltd. |
32 | 1,155 | ||||||
Central Japan Railway Co. |
134 | 3,259 | ||||||
Chiba Bank Ltd. (The) |
98 | 714 | ||||||
Chubu Electric Power Co., Inc. |
121 | 1,543 | ||||||
Chugai Pharmaceutical Co. Ltd. |
125 | 3,867 | ||||||
Concordia Financial Group Ltd. |
196 | 895 | ||||||
CyberAgent, Inc. |
80 | 430 | ||||||
Dai Nippon Printing Co. Ltd. |
41 | 1,056 | ||||||
Daifuku Co. Ltd. |
56 | 1,063 | ||||||
Dai-ichi Life Holdings, Inc. |
176 | 3,625 | ||||||
Daiichi Sankyo Co. Ltd. |
346 | 9,464 | ||||||
Daikin Industries Ltd. |
49 | 7,729 | ||||||
Daito Trust Construction Co. Ltd. |
12 | 1,232 | ||||||
Daiwa House Industry Co. Ltd. |
111 | 2,985 | ||||||
Daiwa House REIT Investment Corp. |
| (h) | 722 | |||||
Daiwa Securities Group, Inc. |
252 | 1,453 | ||||||
Denso Corp. |
323 | 5,186 | ||||||
Dentsu Group, Inc. |
38 | 1,103 | ||||||
Disco Corp. |
17 | 3,196 | ||||||
East Japan Railway Co. |
57 | 3,239 | ||||||
Eisai Co. Ltd. |
47 | 2,627 | ||||||
ENEOS Holdings, Inc. |
534 | 2,103 | ||||||
FANUC Corp. |
179 | 4,642 | ||||||
Fast Retailing Co. Ltd. |
33 | 7,123 | ||||||
Fuji Electric Co. Ltd. |
24 | 1,085 | ||||||
FUJIFILM Holdings Corp. |
70 | 4,038 | ||||||
Fujitsu Ltd. |
33 | 3,869 | ||||||
GLP J-Reit |
1 | 781 | ||||||
GMO Payment Gateway, Inc. |
8 | 426 | ||||||
Hakuhodo DY Holdings, Inc. |
43 | 356 | ||||||
Hamamatsu Photonics KK |
26 | 1,093 | ||||||
Hankyu Hanshin Holdings, Inc. |
43 | 1,454 | ||||||
Hikari Tsushin, Inc. |
4 | 579 | ||||||
Hirose Electric Co. Ltd. |
6 | 659 | ||||||
Hitachi Construction Machinery Co. Ltd. |
20 | 607 | ||||||
Hitachi Ltd. |
175 | 10,871 | ||||||
Honda Motor Co. Ltd. |
863 | 9,713 | ||||||
Hoshizaki Corp. |
20 | 698 | ||||||
Hoya Corp. |
67 | 6,831 | ||||||
Hulic Co. Ltd. |
71 | 639 | ||||||
Ibiden Co. Ltd. |
21 | 1,114 | ||||||
Idemitsu Kosan Co. Ltd. |
39 | 885 | ||||||
Iida Group Holdings Co. Ltd. |
31 | 514 | ||||||
Inpex Corp. |
180 | 2,700 | ||||||
Isuzu Motors Ltd. |
108 | 1,360 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Japan continued |
||||||||
ITOCHU Corp. |
222 | 8,014 | ||||||
Japan Airlines Co. Ltd. |
27 | 521 | ||||||
Japan Exchange Group, Inc. |
95 | 1,754 | ||||||
Japan Metropolitan Fund Invest |
1 | 840 | ||||||
Japan Post Bank Co. Ltd. |
277 | 2,409 | ||||||
Japan Post Holdings Co. Ltd. |
420 | 3,363 | ||||||
Japan Post Insurance Co. Ltd. |
37 | 622 | ||||||
Japan Real Estate Investment Corp. |
| (h) | 947 | |||||
Japan Tobacco, Inc. |
224 | 5,145 | ||||||
JFE Holdings, Inc. |
93 | 1,362 | ||||||
JSR Corp. |
33 | 880 | ||||||
Kajima Corp. |
78 | 1,276 | ||||||
Kansai Electric Power Co., Inc. (The) |
132 | 1,833 | ||||||
KAO Corp. |
87 | 3,228 | ||||||
Kawasaki Kisen Kaisha Ltd. |
26 | 874 | ||||||
KDDI Corp. |
279 | 8,540 | ||||||
Keio Corp. |
19 | 660 | ||||||
Keisei Electric Railway Co. Ltd. |
24 | 828 | ||||||
Keyence Corp. |
36 | 13,462 | ||||||
Kikkoman Corp. |
25 | 1,321 | ||||||
Kintetsu Group Holdings Co. Ltd. |
34 | 953 | ||||||
Kirin Holdings Co. Ltd. |
144 | 2,017 | ||||||
Kobayashi Pharmaceutical Co. Ltd. |
10 | 424 | ||||||
Kobe Bussan Co. Ltd. |
28 | 651 | ||||||
Koei Tecmo Holdings Co. Ltd. |
22 | 310 | ||||||
Koito Manufacturing Co. Ltd. |
39 | 587 | ||||||
Komatsu Ltd. |
173 | 4,652 | ||||||
Konami Group Corp. |
19 | 981 | ||||||
Kose Corp. |
6 | 442 | ||||||
Kubota Corp. |
189 | 2,785 | ||||||
Kurita Water Industries Ltd. |
20 | 679 | ||||||
Kyocera Corp. |
60 | 3,052 | ||||||
Kyowa Kirin Co. Ltd. |
50 | 873 | ||||||
Lasertec Corp. |
14 | 2,177 | ||||||
Lixil Corp. |
53 | 621 | ||||||
M3, Inc. |
83 | 1,504 | ||||||
Makita Corp. |
42 | 1,026 | ||||||
Marubeni Corp. |
270 | 4,206 | ||||||
MatsukiyoCocokara & Co. |
64 | 1,145 | ||||||
Mazda Motor Corp. |
106 | 1,199 | ||||||
McDonalds Holdings Co. Japan Ltd. |
16 | 611 | ||||||
MEIJI Holdings Co. Ltd. |
44 | 1,091 | ||||||
MINEBEA MITSUMI, Inc. |
68 | 1,100 | ||||||
MISUMI Group, Inc. |
53 | 821 | ||||||
Mitsubishi Chemical Group Corp. |
237 | 1,496 | ||||||
Mitsubishi Corp. |
215 | 10,240 | ||||||
Mitsubishi Electric Corp. |
360 | 4,449 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Japan continued |
||||||||
Mitsubishi Estate Co. Ltd. |
211 | 2,747 | ||||||
Mitsubishi HC Capital, Inc. |
151 | 1,005 | ||||||
Mitsubishi Heavy Industries Ltd. |
60 | 3,347 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
2,134 | 18,085 | ||||||
Mitsui & Co. Ltd. |
246 | 8,908 | ||||||
Mitsui Chemicals, Inc. |
32 | 824 | ||||||
Mitsui Fudosan Co. Ltd. |
167 | 3,680 | ||||||
Mitsui OSK Lines Ltd. |
65 | 1,781 | ||||||
Mizuho Financial Group, Inc. |
450 | 7,635 | ||||||
MonotaRO Co. Ltd. |
47 | 496 | ||||||
MS&AD Insurance Group Holdings, Inc. |
80 | 2,935 | ||||||
Murata Manufacturing Co. Ltd. |
321 | 5,861 | ||||||
NEC Corp. |
46 | 2,546 | ||||||
Nexon Co. Ltd. |
64 | 1,140 | ||||||
NGK Insulators Ltd. |
43 | 575 | ||||||
NIDEC CORP |
78 | 3,597 | ||||||
Nintendo Co. Ltd. |
194 | 8,074 | ||||||
Nippon Building Fund, Inc. |
| (h) | 1,154 | |||||
NIPPON EXPRESS HOLDINGS INC |
13 | 694 | ||||||
Nippon Paint Holdings Co. Ltd. |
176 | 1,181 | ||||||
Nippon Prologis REIT, Inc. |
| (h) | 784 | |||||
Nippon Sanso Holdings Corp. |
32 | 760 | ||||||
Nippon Steel Corp. |
160 | 3,744 | ||||||
Nippon Telegraph & Telephone Corp. |
5,574 | 6,597 | ||||||
Nippon Yusen KK |
90 | 2,339 | ||||||
Nissan Chemical Corp. |
24 | 1,003 | ||||||
Nissan Motor Co. Ltd. |
431 | 1,900 | ||||||
Nissin Foods Holdings Co. Ltd. |
12 | 980 | ||||||
Nitori Holdings Co. Ltd. |
15 | 1,672 | ||||||
Nitto Denko Corp. |
27 | 1,744 | ||||||
Nomura Holdings, Inc. |
562 | 2,249 | ||||||
Nomura Real Estate Holdings, Inc. |
20 | 512 | ||||||
Nomura Real Estate Master Fund, Inc. |
1 | 881 | ||||||
Nomura Research Institute Ltd. |
72 | 1,864 | ||||||
NTT Data Group Corp. |
119 | 1,587 | ||||||
Obayashi Corp. |
120 | 1,059 | ||||||
Obic Co. Ltd. |
13 | 1,985 | ||||||
Odakyu Electric Railway Co. Ltd. |
59 | 874 | ||||||
Oji Holdings Corp. |
160 | 672 | ||||||
Olympus Corp. |
237 | 3,072 | ||||||
Omron Corp. |
33 | 1,446 | ||||||
Ono Pharmaceutical Co. Ltd. |
72 | 1,385 | ||||||
Open House Group Co. Ltd. |
15 | 495 | ||||||
Oracle Corp. Japan |
7 | 526 | ||||||
Oriental Land Co. Ltd. |
204 | 6,696 | ||||||
ORIX Corp. |
219 | 4,091 | ||||||
Osaka Gas Co. Ltd. |
70 | 1,149 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Japan continued |
||||||||
Otsuka Corp. |
21 | 901 | ||||||
Otsuka Holdings Co. Ltd. |
73 | 2,578 | ||||||
Pan Pacific International Holdings Corp. |
71 | 1,486 | ||||||
Panasonic Holdings Corp. |
412 | 4,646 | ||||||
Persol Holdings Co. Ltd. |
349 | 567 | ||||||
Rakuten Group, Inc. |
277 | 1,139 | ||||||
Recruit Holdings Co. Ltd. |
270 | 8,251 | ||||||
Renesas Electronics Corp. (a) |
237 | 3,626 | ||||||
Resona Holdings, Inc. |
397 | 2,194 | ||||||
Ricoh Co. Ltd. |
102 | 877 | ||||||
Rohm Co. Ltd. |
65 | 1,226 | ||||||
SBI Holdings, Inc. |
46 | 960 | ||||||
SCSK Corp. |
29 | 506 | ||||||
Secom Co. Ltd. |
39 | 2,653 | ||||||
Seiko Epson Corp. |
55 | 868 | ||||||
Sekisui Chemical Co. Ltd. |
72 | 1,034 | ||||||
Sekisui House Ltd. |
114 | 2,271 | ||||||
Seven & i Holdings Co. Ltd. |
141 | 5,516 | ||||||
SG Holdings Co. Ltd. |
59 | 758 | ||||||
Sharp Corp. |
49 | 303 | ||||||
Shimadzu Corp. |
45 | 1,188 | ||||||
Shimano, Inc. |
14 | 1,927 | ||||||
Shimizu Corp. |
107 | 744 | ||||||
Shin-Etsu Chemical Co. Ltd. |
341 | 9,890 | ||||||
Shionogi & Co. Ltd. |
49 | 2,168 | ||||||
Shiseido Co. Ltd. |
75 | 2,628 | ||||||
Shizuoka Financial Group, Inc. |
88 | 713 | ||||||
SMC Corp. |
11 | 4,841 | ||||||
SoftBank Corp. |
538 | 6,091 | ||||||
SoftBank Group Corp. |
192 | 8,105 | ||||||
Sompo Holdings, Inc. |
55 | 2,366 | ||||||
Sony Group Corp. |
236 | 19,274 | ||||||
Square Enix Holdings Co. Ltd. |
16 | 545 | ||||||
Subaru Corp. |
115 | 2,242 | ||||||
SUMCO Corp. |
65 | 846 | ||||||
Sumitomo Chemical Co. Ltd. |
261 | 710 | ||||||
Sumitomo Corp. |
195 | 3,900 | ||||||
Sumitomo Electric Industries Ltd. |
134 | 1,619 | ||||||
Sumitomo Metal Mining Co. Ltd. |
47 | 1,368 | ||||||
Sumitomo Mitsui Financial Group, Inc. |
237 | 11,662 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. |
62 | 2,315 | ||||||
Sumitomo Realty & Development Co. Ltd. |
53 | 1,376 | ||||||
Suntory Beverage & Food Ltd. |
26 | 788 | ||||||
Suzuki Motor Corp. |
69 | 2,783 | ||||||
Sysmex Corp. |
31 | 1,487 | ||||||
T&D Holdings, Inc. |
93 | 1,529 | ||||||
Taisei Corp. |
32 | 1,116 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Japan continued |
||||||||
Takeda Pharmaceutical Co. Ltd. |
296 | 9,172 | ||||||
TDK Corp. |
73 | 2,699 | ||||||
Terumo Corp. |
126 | 3,325 | ||||||
TIS, Inc. |
41 | 899 | ||||||
Tobu Railway Co. Ltd. |
36 | 923 | ||||||
Toho Co. Ltd. |
21 | 710 | ||||||
Tokio Marine Holdings, Inc. |
337 | 7,798 | ||||||
Tokyo Electric Power Co. Holdings, Inc. (a) |
283 | 1,263 | ||||||
Tokyo Electron Ltd. |
88 | 12,034 | ||||||
Tokyo Gas Co. Ltd. |
73 | 1,648 | ||||||
Tokyu Corp. |
93 | 1,077 | ||||||
Toppan, Inc. |
47 | 1,124 | ||||||
Toray Industries, Inc. |
257 | 1,339 | ||||||
Toshiba Corp. (a) |
16 | 499 | ||||||
Tosoh Corp. |
48 | 621 | ||||||
TOTO Ltd. |
25 | 635 | ||||||
Toyota Industries Corp. |
28 | 2,173 | ||||||
Toyota Motor Corp. |
1,982 | 35,558 | ||||||
Toyota Tsusho Corp. |
40 | 2,323 | ||||||
Trend Micro, Inc. |
25 | 943 | ||||||
Unicharm Corp. |
75 | 2,648 | ||||||
USS Co. Ltd. |
38 | 631 | ||||||
Welcia Holdings Co. Ltd. |
18 | 302 | ||||||
West Japan Railway Co. |
41 | 1,709 | ||||||
Yakult Honsha Co. Ltd. |
48 | 1,156 | ||||||
Yamaha Corp. |
26 | 713 | ||||||
Yamaha Motor Co. Ltd. |
56 | 1,472 | ||||||
Yamato Holdings Co. Ltd. |
53 | 863 | ||||||
Yaskawa Electric Corp. |
45 | 1,628 | ||||||
Yokogawa Electric Corp. |
42 | 818 | ||||||
Z Holdings Corp. |
495 | 1,374 | ||||||
Zensho Holdings Co. Ltd. |
17 | 756 | ||||||
ZOZO, Inc. |
26 | 480 | ||||||
|
|
|||||||
630,864 | ||||||||
|
|
|||||||
Jordan 0.0% (g) |
||||||||
Hikma Pharmaceuticals plc |
196 | 4,988 | ||||||
|
|
|||||||
Luxembourg 0.1% |
||||||||
ArcelorMittal SA |
230 | 5,769 | ||||||
Eurofins Scientific SE |
59 | 3,341 | ||||||
Tenaris SA |
208 | 3,281 | ||||||
|
|
|||||||
12,391 | ||||||||
|
|
|||||||
Netherlands 8.9% |
||||||||
ABN AMRO Bank NV, CVA (e) |
476 | 6,728 | ||||||
Adyen NV (a) (e) |
26 | 19,078 | ||||||
Aegon NV |
1,982 | 9,552 | ||||||
Akzo Nobel NV |
78 | 5,598 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Netherlands continued |
||||||||
Argenx SE (a) |
25 | 12,102 | ||||||
ASM International NV |
130 | 54,415 | ||||||
ASML Holding NV |
1,118 | 658,094 | ||||||
ASR Nederland NV |
190 | 7,123 | ||||||
BE Semiconductor Industries NV |
213 | 20,860 | ||||||
Euronext NV (e) |
100 | 6,957 | ||||||
EXOR NV |
128 | 11,308 | ||||||
Heineken Holding NV |
401 | 30,214 | ||||||
Heineken NV |
891 | 78,511 | ||||||
IMCD NV |
55 | 6,933 | ||||||
ING Groep NV |
4,280 | 56,411 | ||||||
JDE Peets NV |
56 | 1,569 | ||||||
Koninklijke Ahold Delhaize NV |
435 | 13,121 | ||||||
Koninklijke KPN NV |
1,458 | 4,804 | ||||||
Koninklijke Philips NV |
417 | 8,324 | ||||||
NN Group NV |
296 | 9,486 | ||||||
OCI NV |
48 | 1,343 | ||||||
Prosus NV (a) |
677 | 19,937 | ||||||
QIAGEN NV (a) |
101 | 4,083 | ||||||
Randstad NV |
107 | 5,899 | ||||||
Stellantis NV |
984 | 18,839 | ||||||
Universal Music Group NV |
366 | 9,563 | ||||||
Wolters Kluwer NV |
249 | 30,105 | ||||||
|
|
|||||||
1,110,957 | ||||||||
|
|
|||||||
Norway 0.7% |
||||||||
Adevinta ASA, Class B (a) |
141 | 1,387 | ||||||
Aker BP ASA |
146 | 4,035 | ||||||
DNB Bank ASA |
1,094 | 21,974 | ||||||
Equinor ASA |
978 | 32,062 | ||||||
Gjensidige Forsikring ASA |
235 | 3,454 | ||||||
Kongsberg Gruppen ASA |
85 | 3,489 | ||||||
Mowi ASA |
191 | 3,381 | ||||||
Norsk Hydro ASA |
582 | 3,644 | ||||||
Orkla ASA |
329 | 2,454 | ||||||
Salmar ASA |
33 | 1,649 | ||||||
Telenor ASA |
306 | 3,473 | ||||||
Yara International ASA |
72 | 2,726 | ||||||
|
|
|||||||
83,728 | ||||||||
|
|
|||||||
Portugal 0.2% |
||||||||
EDP - Energias de Portugal SA |
2,878 | 11,968 | ||||||
Galp Energia SGPS SA |
540 | 7,999 | ||||||
Jeronimo Martins SGPS SA |
124 | 2,781 | ||||||
|
|
|||||||
22,748 | ||||||||
|
|
|||||||
Spain 2.8% |
||||||||
Acciona SA |
23 | 2,930 | ||||||
ACS Actividades de Construccion y Servicios SA |
214 | 7,690 | ||||||
Aena SME SA (e) |
73 | 11,001 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Spain continued |
||||||||
Amadeus IT Group SA |
202 | 12,186 | ||||||
Banco Bilbao Vizcaya Argentaria SA |
7,055 | 57,099 | ||||||
Banco Santander SA |
19,165 | 72,981 | ||||||
CaixaBank SA |
4,870 | 19,401 | ||||||
Cellnex Telecom SA (e) |
254 | 8,827 | ||||||
Corp. ACCIONA Energias Renovables SA |
66 | 1,704 | ||||||
EDP Renovaveis SA |
285 | 4,667 | ||||||
Enagas SA |
100 | 1,651 | ||||||
Endesa SA |
305 | 6,206 | ||||||
Ferrovial SE |
500 | 15,271 | ||||||
Grifols SA (a) |
131 | 1,702 | ||||||
Iberdrola SA |
5,591 | 62,528 | ||||||
Industria de Diseno Textil SA |
487 | 18,109 | ||||||
Naturgy Energy Group SA |
124 | 3,378 | ||||||
Redeia Corp. SA |
224 | 3,525 | ||||||
Repsol SA |
1,418 | 23,329 | ||||||
Telefonica SA |
2,310 | 9,438 | ||||||
|
|
|||||||
343,623 | ||||||||
|
|
|||||||
Sweden 3.0% |
||||||||
Alfa Laval AB |
278 | 9,514 | ||||||
Assa Abloy AB, Class B |
968 | 21,037 | ||||||
Atlas Copco AB, Class A |
2,605 | 34,982 | ||||||
Atlas Copco AB, Class B |
1,492 | 17,455 | ||||||
Beijer Ref AB, Class B |
369 | 3,882 | ||||||
Boliden AB |
120 | 3,437 | ||||||
Epiroc AB, Class A |
641 | 12,162 | ||||||
Epiroc AB, Class B |
372 | 5,954 | ||||||
EQT AB |
417 | 8,209 | ||||||
Essity AB, Class B |
268 | 5,790 | ||||||
Evolution AB (e) |
82 | 8,263 | ||||||
Fastighets AB Balder, Class B (a) |
298 | 1,334 | ||||||
Getinge AB, Class B |
101 | 1,767 | ||||||
H & M Hennes & Mauritz AB, Class B |
289 | 4,096 | ||||||
Hexagon AB, Class B |
933 | 7,938 | ||||||
Holmen AB, Class B |
41 | 1,600 | ||||||
Husqvarna AB, Class B |
342 | 2,612 | ||||||
Industrivarden AB, Class A |
158 | 4,161 | ||||||
Industrivarden AB, Class C |
177 | 4,662 | ||||||
Indutrade AB |
262 | 4,844 | ||||||
Investment AB Latour, Class B |
147 | 2,583 | ||||||
Investor AB, Class B |
2,045 | 39,146 | ||||||
L E Lundbergforetagen AB, Class B |
87 | 3,644 | ||||||
Lifco AB, Class B |
222 | 3,885 | ||||||
Nibe Industrier AB, Class B |
1,454 | 9,504 | ||||||
Saab AB, Class B |
77 | 3,896 | ||||||
Sagax AB, Class B |
84 | 1,589 | ||||||
Sandvik AB |
1,029 | 18,930 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Sweden continued |
||||||||
Securitas AB, Class B |
470 | 3,718 | ||||||
Skandinaviska Enskilda Banken AB, Class A |
1,878 | 22,395 | ||||||
Skanska AB, Class B |
326 | 5,354 | ||||||
SKF AB, Class B |
328 | 5,445 | ||||||
Svenska Cellulosa AB SCA, Class B |
265 | 3,632 | ||||||
Svenska Handelsbanken AB, Class A |
1,721 | 15,316 | ||||||
Swedbank AB, Class A |
1,009 | 18,542 | ||||||
Swedish Orphan Biovitrum AB (a) |
87 | 1,770 | ||||||
Tele2 AB, Class B |
239 | 1,831 | ||||||
Telefonaktiebolaget LM Ericsson, Class B |
1,316 | 6,412 | ||||||
Telia Co. AB |
1,083 | 2,235 | ||||||
Volvo AB, Class A |
147 | 3,047 | ||||||
Volvo AB, Class B |
1,499 | 30,870 | ||||||
Volvo Car AB, Class B (a) |
275 | 1,112 | ||||||
|
|
|||||||
368,555 | ||||||||
|
|
|||||||
Switzerland 17.6% |
||||||||
ABB Ltd. (Registered) |
1,543 | 55,084 | ||||||
Adecco Group AG (Registered) |
154 | 6,337 | ||||||
Alcon, Inc. |
221 | 17,073 | ||||||
Bachem Holding AG, Class B |
15 | 1,134 | ||||||
Baloise Holding AG (Registered) |
55 | 7,944 | ||||||
Banque Cantonale Vaudoise (Registered) |
36 | 3,732 | ||||||
Barry Callebaut AG (Registered) |
11 | 17,903 | ||||||
BKW AG |
19 | 3,387 | ||||||
Chocoladefabriken Lindt & Spruengli AG |
3 | 70,927 | ||||||
Cie Financiere Richemont SA (Registered), Class A |
986 | 120,131 | ||||||
Clariant AG (Registered) (a) |
104 | 1,641 | ||||||
Coca-Cola HBC AG (a) |
730 | 19,965 | ||||||
DSM-Firmenich AG |
82 | 6,965 | ||||||
Dufry AG (Registered) (a) |
43 | 1,646 | ||||||
EMS-Chemie Holding AG (Registered) |
3 | 2,100 | ||||||
Geberit AG (Registered) |
33 | 16,241 | ||||||
Givaudan SA (Registered) |
4 | 13,417 | ||||||
Glencore plc |
6,952 | 39,586 | ||||||
Helvetia Holding AG (Registered) |
44 | 6,088 | ||||||
Holcim AG (a) |
231 | 14,769 | ||||||
Julius Baer Group Ltd. |
243 | 15,537 | ||||||
Kuehne + Nagel International AG (Registered) |
53 | 14,974 | ||||||
Logitech International SA (Registered) |
72 | 4,976 | ||||||
Lonza Group AG (Registered) |
33 | 15,269 | ||||||
Nestle SA (Registered) |
8,441 | 955,450 | ||||||
Novartis AG (Registered) |
1,973 | 201,497 | ||||||
Partners Group Holding AG |
27 | 30,132 | ||||||
Roche Holding AG |
707 | 193,706 | ||||||
Schindler Holding AG |
40 | 7,912 | ||||||
Schindler Holding AG (Registered) |
22 | 4,221 | ||||||
SGS SA (Registered) |
146 | 12,238 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
Switzerland continued |
||||||||
SIG Group AG (a) |
134 | 3,297 | ||||||
Sika AG (Registered) |
65 | 16,420 | ||||||
Sonova Holding AG (Registered) |
23 | 5,416 | ||||||
Straumann Holding AG (Registered) |
50 | 6,352 | ||||||
Swatch Group AG (The) |
56 | 14,335 | ||||||
Swatch Group AG (The) (Registered) |
91 | 4,438 | ||||||
Swiss Life Holding AG (Registered) |
35 | 21,722 | ||||||
Swiss Prime Site AG (Registered) |
34 | 3,152 | ||||||
Swiss Re AG |
356 | 36,593 | ||||||
Swisscom AG (Registered) |
12 | 7,000 | ||||||
Temenos AG (Registered) |
28 | 1,949 | ||||||
UBS Group AG (Registered) |
3,884 | 95,683 | ||||||
VAT Group AG (e) |
26 | 9,269 | ||||||
Zurich Insurance Group AG |
178 | 81,347 | ||||||
|
|
|||||||
2,188,955 | ||||||||
|
|
|||||||
Taiwan 1.8% |
||||||||
ASE Technology Holding Co. Ltd. |
1,393 | 4,755 | ||||||
eMemory Technology, Inc. |
30 | 1,883 | ||||||
Global Unichip Corp. |
40 | 1,703 | ||||||
Globalwafers Co. Ltd. |
98 | 1,382 | ||||||
MediaTek, Inc. |
691 | 15,798 | ||||||
Nanya Technology Corp. |
556 | 1,133 | ||||||
Novatek Microelectronics Corp. |
263 | 3,454 | ||||||
Powerchip Semiconductor Manufacturing Corp. |
1,388 | 1,144 | ||||||
Realtek Semiconductor Corp. |
222 | 2,726 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. |
11,207 | 182,744 | ||||||
United Microelectronics Corp. |
5,119 | 7,188 | ||||||
Vanguard International Semiconductor Corp. |
407 | 860 | ||||||
Winbond Electronics Corp. |
1,352 | 1,063 | ||||||
|
|
|||||||
225,833 | ||||||||
|
|
|||||||
United Arab Emirates % |
||||||||
NMC Health plc (a) (bb) (cc) |
116 | | ||||||
|
|
|||||||
United Kingdom 19.3% |
||||||||
3i Group plc |
1,360 | 34,224 | ||||||
abrdn plc |
2,736 | 5,169 | ||||||
Admiral Group plc |
297 | 8,581 | ||||||
Anglo American plc |
839 | 23,030 | ||||||
Ashtead Group plc |
517 | 31,352 | ||||||
Associated British Foods plc |
228 | 5,734 | ||||||
AstraZeneca plc |
1,825 | 246,221 | ||||||
Auto Trader Group plc (e) |
603 | 4,530 | ||||||
Aviva plc |
3,843 | 18,190 | ||||||
BAE Systems plc |
3,598 | 43,721 | ||||||
Barclays plc |
21,730 | 41,884 | ||||||
Barratt Developments plc |
640 | 3,429 | ||||||
Berkeley Group Holdings plc |
71 | 3,533 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
United Kingdom continued |
||||||||
BP plc |
22,547 | 145,337 | ||||||
British American Tobacco plc |
1,402 | 44,029 | ||||||
BT Group plc, Class A |
4,238 | 6,018 | ||||||
Bunzl plc |
400 | 14,228 | ||||||
Burberry Group plc |
793 | 18,368 | ||||||
Centrica plc |
3,689 | 6,938 | ||||||
CNH Industrial NV |
979 | 11,886 | ||||||
Coca-Cola Europacific Partners plc |
638 | 39,872 | ||||||
Compass Group plc |
1,144 | 27,852 | ||||||
Croda International plc |
93 | 5,530 | ||||||
Diageo plc |
7,433 | 274,047 | ||||||
Endeavour Mining plc |
124 | 2,395 | ||||||
Entain plc |
419 | 4,755 | ||||||
GSK plc |
4,823 | 87,267 | ||||||
Haleon plc |
3,657 | 15,159 | ||||||
Halma plc |
252 | 5,945 | ||||||
Hargreaves Lansdown plc |
496 | 4,660 | ||||||
HSBC Holdings plc |
27,610 | 216,055 | ||||||
Imperial Brands plc |
570 | 11,567 | ||||||
Informa plc |
927 | 8,462 | ||||||
InterContinental Hotels Group plc |
111 | 8,245 | ||||||
Intertek Group plc |
190 | 9,490 | ||||||
J Sainsbury plc |
1,098 | 3,380 | ||||||
JD Sports Fashion plc |
1,718 | 3,121 | ||||||
Johnson Matthey plc |
120 | 2,373 | ||||||
Kingfisher plc |
1,246 | 3,382 | ||||||
Land Securities Group plc |
468 | 3,355 | ||||||
Legal & General Group plc |
8,356 | 22,547 | ||||||
Lloyds Banking Group plc |
89,965 | 48,347 | ||||||
London Stock Exchange Group plc |
593 | 59,402 | ||||||
M&G plc |
3,116 | 7,465 | ||||||
Melrose Industries plc |
1,590 | 9,064 | ||||||
Mondi plc |
319 | 5,316 | ||||||
National Grid plc |
2,430 | 29,064 | ||||||
NatWest Group plc |
8,124 | 23,238 | ||||||
Next plc |
79 | 7,012 | ||||||
Ocado Group plc (a) |
379 | 2,754 | ||||||
Pearson plc |
423 | 4,463 | ||||||
Persimmon plc |
213 | 2,783 | ||||||
Phoenix Group Holdings plc |
1,046 | 6,132 | ||||||
Reckitt Benckiser Group plc |
474 | 33,397 | ||||||
RELX plc |
2,235 | 75,406 | ||||||
Rentokil Initial plc |
2,973 | 22,074 | ||||||
Rio Tinto plc |
743 | 46,661 | ||||||
Rolls-Royce Holdings plc (a) |
9,933 | 26,615 | ||||||
Sage Group plc (The) |
679 | 8,169 | ||||||
Schroders plc |
1,131 | 5,590 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
SHARES |
VALUE ($) | ||||||
Common Stocks continued |
||||||||
United Kingdom continued |
||||||||
Segro plc |
764 | 6,677 | ||||||
Severn Trent plc |
166 | 4,778 | ||||||
Shell plc |
8,712 | 276,110 | ||||||
Smith & Nephew plc |
573 | 7,114 | ||||||
Smiths Group plc |
415 | 8,168 | ||||||
Spirax-Sarco Engineering plc |
87 | 10,052 | ||||||
SSE plc |
720 | 14,103 | ||||||
St Jamess Place plc |
763 | 7,701 | ||||||
Standard Chartered plc |
3,320 | 30,535 | ||||||
Taylor Wimpey plc |
2,352 | 3,354 | ||||||
Tesco plc |
4,731 | 15,218 | ||||||
Unilever plc |
1,660 | 82,113 | ||||||
United Utilities Group plc |
448 | 5,171 | ||||||
Vodafone Group plc |
15,177 | 14,227 | ||||||
Whitbread plc |
130 | 5,467 | ||||||
Wise plc, Class A (a) |
863 | 7,199 | ||||||
WPP plc |
705 | 6,285 | ||||||
|
|
|||||||
2,403,085 | ||||||||
|
|
|||||||
United States 0.0% (g) |
||||||||
Parade Technologies Ltd. |
35 | 1,071 | ||||||
|
|
|||||||
Total Common Stocks (Cost $11,537,234) |
12,217,066 | |||||||
|
|
|||||||
Preferred Stocks 0.2% |
||||||||
Germany 0.2% |
||||||||
Bayerische Motoren Werke AG |
21 | 1,945 | ||||||
Dr Ing hc F Porsche AG (e) |
52 | 4,835 | ||||||
Henkel AG & Co. KGaA |
78 | 5,540 | ||||||
Porsche Automobil Holding SE |
68 | 3,325 | ||||||
Sartorius AG |
12 | 3,906 | ||||||
Volkswagen AG |
91 | 10,496 | ||||||
|
|
|||||||
Total Preferred Stocks (Cost $31,481) |
30,047 | |||||||
|
|
|||||||
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Short-Term Investments 0.9% |
||||||||
Time Deposits 0.9% |
||||||||
Australia & New Zealand Banking Group Ltd., 4.68%, 10/02/2023 |
691 | 691 | ||||||
Brown Brothers Harriman, |
||||||||
2.50%, 10/02/2023 |
DKK | 13,559 | 1,922 | |||||
2.81%, 10/02/2023 |
SEK | 13,592 | 1,244 | |||||
3.03%, 10/02/2023 |
NOK | 14,498 | 1,355 | |||||
Citibank NA, |
||||||||
2.81%, 10/02/2023 |
EUR | 5,049 | 5,338 | |||||
4.68%, 10/02/2023 |
19,071 | 19,071 | ||||||
Royal Bank of Canada, 4.68%, 10/02/2023 |
649 | 649 |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Short-Term Investments continued |
||||||||
Time Deposits continued |
||||||||
Skandinaviska Enskilda Banken AB, |
||||||||
0.55%, 10/02/2023 |
CHF | 7,010 | 7,658 | |||||
2.81%, 10/02/2023 |
EUR | 31,262 | 33,052 | |||||
4.17%, 10/02/2023 |
GBP | 13,130 | 16,020 | |||||
4.68%, 10/02/2023 |
8,038 | 8,038 | ||||||
Sumitomo Mitsui Banking Corp., |
||||||||
(0.38%), 10/02/2023 |
JPY | 725,001 | 4,851 | |||||
4.68%, 10/02/2023 |
75 | 75 | ||||||
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 10/02/2023 |
12,946 | 12,946 | ||||||
|
|
|||||||
Total Short-Term Investments (Cost $112,910) |
112,910 | |||||||
|
|
|||||||
Total Investments 99.2% (Cost - $11,681,625) * |
12,360,023 | |||||||
Other Assets in Excess of Liabilities 0.8% |
95,646 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 12,455,669 | ||||||
|
|
Percentages indicated are based on net assets.
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Futures contracts outstanding as of September 30, 2023:
Exchange Traded
DESCRIPTION |
NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
Euro STOXX 50 Index |
1,315 | 12/2023 | EUR | 58,847 | (400 | ) | ||||||||||||||
FTSE 100 Index |
377 | 12/2023 | GBP | 34,635 | 649 | |||||||||||||||
SGX FTSE Taiwan Index |
25 | 10/2023 | USD | 1,414 | 11 | |||||||||||||||
TOPIX Index |
72 | 12/2023 | JPY | 11,347 | (152 | ) | ||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation (depreciation) |
108 | |||||||||||||||||||
|
|
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023
CVA | | Dutch Certification | ||
OYJ | | Public Limited Company | ||
REIT | | Real Estate Investment Trust | ||
(a) | | Non-income producing security. | ||
(e) | | Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | ||
(g) | | Amount rounds to less than 0.05%. | ||
(h) | | Amount rounds to less than 500 shares or principal/ $500. | ||
(bb) | | Security has been valued using significant unobservable inputs. | ||
(cc) | | Security is valued in good faith at fair value by or under the direction of the Board of Trustees. | ||
* | | The cost of securities is substantially the same for federal income tax purposes. | ||
CHF | | Swiss Franc | ||
DKK | | Danish Krone | ||
EUR | | Euro | ||
GBP | | British Pound | ||
JPY | | Japanese Yen | ||
NOK | | Norwegian Krone | ||
SEK | | Swedish Krona | ||
USD | | United States Dollar |
Six Circles International Unconstrained Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Summary of Investments by Industry, September 30, 2023
The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:
INDUSTRY |
PERCENTAGE | |||
Pharmaceuticals |
10.2 | % | ||
Semiconductors |
9.6 | % | ||
Banks |
9.6 | % | ||
Food |
9.2 | % | ||
Beverages |
6.2 | % | ||
Oil & Gas |
5.8 | % | ||
Apparel |
5.3 | % | ||
Software |
5.2 | % | ||
Insurance |
5.1 | % | ||
Commercial Services |
2.4 | % | ||
Electric |
2.3 | % | ||
Aerospace/Defense |
2.0 | % | ||
Retail |
1.9 | % | ||
Auto Manufacturers |
1.7 | % | ||
Diversified Financial Services |
1.4 | % | ||
Cosmetics/Personal Care |
1.3 | % | ||
Chemicals |
1.3 | % | ||
Building Materials |
1.2 | % | ||
Machinery - Diversified |
1.2 | % | ||
Miscellaneous Manufacturers |
1.1 | % | ||
Telecommunications |
1.1 | % | ||
Transportation |
1.1 | % | ||
Engineering & Construction |
1.1 | % | ||
Mining |
1.0 | % | ||
Others (Each less than 1.0%) |
10.8 | % | ||
Short-Term Investments |
0.9 | % |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Long Positions 104.6% |
||||||||
Asset-Backed Securities 0.6% | ||||||||
Anchorage Capital CLO 11 Ltd., (Cayman Islands), Series 2019-11A, Class AR, (CME Term SOFR 3 Month + 1.40%), 6.75%, 07/22/2032 (e) (aa) | 1,900 | 1,885 | ||||||
ARES L CLO Ltd., (Cayman Islands), Series 2018-50A, Class AR, (CME Term SOFR 3 Month + 1.31%), 6.62%, 01/15/2032 (e) (aa) | 3,300 | 3,288 | ||||||
Atlas Senior Loan Fund Ltd., (Cayman Islands), Series 2017-8A, Class A, (CME Term SOFR 3 Month + 1.41%), 6.72%, 01/16/2030 (e) (aa) | 3,293 | 3,290 | ||||||
Benefit Street Partners CLO XVII Ltd., (Cayman Islands), Series 2019-17A, Class AR, (CME Term SOFR 3 Month + 1.34%), 6.65%, 07/15/2032 (e) (aa) | 4,300 | 4,286 | ||||||
CARLYLE US CLO Ltd., (Cayman Islands), Series 2017-1A, Class A1R, (CME Term SOFR 3 Month + 1.26%), 6.59%, 04/20/2031 (e) (aa) | 1,891 | 1,881 | ||||||
Carmax Auto Owner Trust, Series 2020-1, Class A3, 1.89%, 12/16/2024 | 4 | 4 | ||||||
CIFC Funding Ltd., (Cayman Islands), Series 2017-4A, Class A1R, (CME Term SOFR 3 Month + 1.21%), 6.56%, 10/24/2030 (e) (aa) | 2,994 | 2,987 | ||||||
Crestline Denali CLO XV Ltd., (Cayman Islands), Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.29%), 6.62%, 04/20/2030 (e) (aa) | 3,859 | 3,851 | ||||||
Dryden 27 R Euro CLO 2017 DAC, (Ireland), Series 2017-27A, Class AR, (ICE LIBOR EUR 3 Month + 0.66%), 4.32%, 04/15/2033 (e) (aa) | EUR | 7,573 | 7,786 | |||||
Dryden Senior Loan Fund, (Cayman Islands), Series 2014-36A, Class AR3, (CME Term SOFR 3 Month + 1.28%), 6.59%, 04/15/2029 (e) (aa) | 4,771 | 4,760 | ||||||
Ford Credit Auto Owner Trust, Series 2020-B, Class A4, 0.79%, 11/15/2025 | 696 | 684 | ||||||
GM Financial Consumer Automobile Receivables Trust, | ||||||||
Series 2020-2, Class A4, 1.74%, 08/18/2025 | 500 | 495 | ||||||
Series 2023-1, Class A3, 4.66%, 02/16/2028 | 1,850 | 1,817 | ||||||
Series 2023-1, Class A4, 4.59%, 07/17/2028 | 230 | 225 | ||||||
Hyundai Auto Receivables Trust, Series 2020-A, Class A3, 1.41%, 11/15/2024 | 3 | 3 | ||||||
Madison Park Funding XXVI Ltd., (Cayman Islands), Series 2017-26A, Class AR, (CME Term SOFR 3 Month + 1.46%), 6.83%, 07/29/2030 (e) (aa) | 2,315 | 2,313 | ||||||
Magnetite XVIII Ltd., (Cayman Islands), Series 2016-18A, Class AR2, (CME Term SOFR 3 Month + 1.14%), 6.51%, 11/15/2028 (e) (aa) | 5,361 | 5,337 | ||||||
Marathon CLO IX Ltd., (Cayman Islands), Series 2017-9A, Class A1AR, (CME Term SOFR 3 Month + 1.41%), 6.72%, 04/15/2029 (e) (aa) | 174 | 174 | ||||||
Marble Point CLO X Ltd., (Cayman Islands), Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.30%), 6.61%, 10/15/2030 (e) (aa) | 1,420 | 1,416 | ||||||
Mountain View CLO LLC, (Cayman Islands), | ||||||||
Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.35%), 6.66%, 10/16/2029 (e) (aa) | 1,132 | 1,132 | ||||||
Series 2017-2A, Class AR, (CME Term SOFR 3 Month + 1.30%), 6.61%, 01/16/2031 (e) (aa) | 2,855 | 2,840 | ||||||
Nissan Auto Receivables Owner Trust, Series 2020-A, Class A3, 1.38%, 12/16/2024 | 6 | 6 | ||||||
OCP CLO Ltd., (Cayman Islands), Series 2017-14A, Class A1A, (CME Term SOFR 3 Month + 1.41%), 6.79%, 11/20/2030 (e) (aa) | 4,810 | 4,805 | ||||||
Sculptor CLO XXV Ltd., (Cayman Islands), Series 25A, Class A1, (CME Term SOFR 3 Month + 1.53%), 6.84%, 01/15/2031 (e) (aa) | 1,200 | 1,200 | ||||||
Sound Point CLO XII Ltd., (Cayman Islands), Series 2016-2A, Class AR2, (CME Term SOFR 3 Month + 1.31%), 6.64%, 10/20/2028 (e) (aa) | 9 | 9 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Asset-Backed Securities continued | ||||||||
Venture 33 CLO Ltd., (Cayman Islands), Series 2018-33A, Class A1LR, (CME Term SOFR 3 Month + 1.32%), 6.63%, 07/15/2031 (e) (aa) | 700 | 698 | ||||||
Vibrant CLO VI Ltd., (Cayman Islands), Series 2017-6A, Class AR, (CME Term SOFR 3 Month + 1.21%), 6.61%, 06/20/2029 (e) (aa) | 1,044 | 1,043 | ||||||
Voya CLO Ltd., (Cayman Islands), Series 2017-1A, Class A1R, (CME Term SOFR 3 Month + 1.21%), 6.52%, 04/17/2030 (e) (aa) | 3,856 | 3,846 | ||||||
Wellfleet CLO Ltd., (Cayman Islands), Series 2015-1A, Class AR4, (CME Term SOFR 3 Month + 1.15%), 6.48%, 07/20/2029 (e) (aa) | 564 | 563 | ||||||
World Omni Auto Receivables Trust, Series 2020-A, Class A3, 1.10%, 04/15/2025 | 5 | 5 | ||||||
|
|
|||||||
Total Asset-Backed Securities (Cost $64,205) |
62,629 | |||||||
|
|
|||||||
Collateralized Mortgage Obligations 2.3% | ||||||||
Citigroup Mortgage Loan Trust, | ||||||||
Series 2021-INV1, Class A3A, 2.50%, 05/25/2051 (e) (z) | 5,812 | 4,397 | ||||||
Series 2021-INV3, Class A11, (United States 30 Day Average SOFR + 0.85%), 5.00%, 05/25/2051 (e) (aa) | 422 | 383 | ||||||
FHLMC REMICS, | ||||||||
Series 3404, Class SA, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.57%, 01/15/2038 (aa) | 1,118 | 69 | ||||||
Series 3680, Class SA, IF, IO, (4.89% - United States 30 Day Average SOFR), 0.00%, 06/15/2040 (aa) | 2,188 | 65 | ||||||
Series 4023, Class S, IF, IO, (6.14% - United States 30 Day Average SOFR), 0.82%, 03/15/2042 (aa) | 1,037 | 70 | ||||||
Series 4056, Class GS, IF, IO, (6.54% - United States 30 Day Average SOFR), 1.22%, 12/15/2041 (aa) | 461 | 37 | ||||||
Series 4134, Class PI, IO, 3.00%, 11/15/2042 | 454 | 53 | ||||||
Series 4147, Class JI, IO, 3.50%, 12/15/2032 | 4,280 | 380 | ||||||
Series 4165, Class TI, IO, 3.00%, 12/15/2042 | 475 | 35 | ||||||
Series 4479, Class AI, IO, 3.50%, 09/15/2025 | 2,655 | 61 | ||||||
Series 4598, Class IK, IO, 3.50%, 03/15/2046 | 590 | 104 | ||||||
Series 4710, Class EI, IO, 3.50%, 11/15/2031 | 3,086 | 230 | ||||||
Series 4751, Class EF, (United States 30 Day Average SOFR + 0.36%), 5.68%, 05/15/2041 (aa) | 2,696 | 2,587 | ||||||
Series 4764, Class WF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 02/15/2048 (aa) | 4,670 | 4,446 | ||||||
Series 4790, Class F, (United States 30 Day Average SOFR + 0.30%), 5.62%, 10/15/2043 (aa) | 1,807 | 1,756 | ||||||
Series 4825, Class SE, IF, IO, (6.09% - United States 30 Day Average SOFR), 0.77%, 09/15/2048 (aa) | 4,124 | 377 | ||||||
Series 4830, Class IL, IO, 4.50%, 04/15/2048 | 1,709 | 340 | ||||||
Series 4888, Class IB, IO, 4.00%, 03/15/2047 | 329 | 48 | ||||||
Series 4930, Class IP, IO, 3.50%, 09/25/2048 | 5,231 | 695 | ||||||
Series 4990, Class MI, IO, 4.00%, 07/25/2050 | 4,212 | 961 | ||||||
Series 5003, Class AS, IF, IO, (5.99% - United States 30 Day Average SOFR), 0.67%, 08/25/2050 (aa) | 7,066 | 708 | ||||||
Series 5013, Class IQ, IO, 3.50%, 09/25/2050 | 5,061 | 787 | ||||||
Series 5016, Class PI, IO, 3.00%, 09/25/2050 | 10,765 | 1,752 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Collateralized Mortgage Obligations continued | ||||||||
Series 5023, Class BI, IO, 2.00%, 10/25/2050 | 22,057 | 2,575 | ||||||
Series 5034, Class MI, IO, 2.00%, 11/25/2050 | 1,953 | 240 | ||||||
Series 5034, Class YI, IO, 4.00%, 11/25/2050 | 2,712 | 519 | ||||||
Series 5045, Class DI, IO, 2.50%, 11/25/2050 | 2,772 | 365 | ||||||
Series 5047, Class CI, IO, 2.00%, 12/25/2050 | 1,715 | 217 | ||||||
Series 5056, Class PI, IO, 2.50%, 12/25/2050 | 8,493 | 1,110 | ||||||
Series 5062, Class EI, IO, 2.00%, 01/25/2051 | 3,690 | 467 | ||||||
Series 5065, Class IG, IO, 3.00%, 01/25/2051 | 3,252 | 480 | ||||||
Series 5069, Class DI, IO, 3.50%, 02/25/2041 | 1,314 | 165 | ||||||
Series 5069, Class LI, IO, 2.50%, 02/25/2051 | 14,575 | 2,044 | ||||||
Series 5071, Class IN, IO, 4.00%, 08/25/2050 | 5,547 | 1,245 | ||||||
Series 5081, Class EI, IO, 2.50%, 03/25/2051 | 20,500 | 2,971 | ||||||
Series 5087, Class IL, IO, 3.00%, 03/25/2051 | 1,976 | 303 | ||||||
Series 5109, Class IE, IO, 2.50%, 05/25/2051 | 1,026 | 142 | ||||||
Series 5124, Class LI, IO, 4.50%, 07/25/2051 | 11,498 | 2,525 | ||||||
Series 5157, Class IA, IO, 3.00%, 10/25/2051 | 49,670 | 7,909 | ||||||
Series 5202, Class UI, IO, 3.50%, 01/25/2052 | 4,191 | 764 | ||||||
Series 5210, Class AI, IO, 3.50%, 01/25/2042 | 4,193 | 559 | ||||||
Series 5227, Class EI, IO, 4.00%, 04/25/2050 | 4,507 | 494 | ||||||
FHLMC STRIPs, Series 365, Class C2, IO, 4.00%, 06/15/2049 | 3,915 | 750 | ||||||
FNMA Interest Strip, | ||||||||
Series 413, Class C32, IO, 4.00%, 01/25/2039 | 1,402 | 226 | ||||||
Series 427, Class C77, IO, 2.50%, 09/25/2051 | 46,558 | 6,725 | ||||||
Series 429, Class 161, IO, 2.00%, 03/25/2051 | 3,040 | 278 | ||||||
Series 429, Class 162, IO, 2.00%, 03/25/2051 | 2,366 | 216 | ||||||
Series 429, Class 163, IO, 2.00%, 02/25/2051 | 559 | 51 | ||||||
Series 429, Class 164, IO, 2.00%, 03/25/2051 | 1,042 | 96 | ||||||
FNMA Interest STRIP, | ||||||||
Series 379, Class S56, IF, IO, (7.79% - United States 30 Day Average SOFR), 2.47%, 05/25/2037 (aa) | 369 | 47 | ||||||
Series 405, Class 1, PO, Zero Coupon, 10/25/2040 | 299 | 222 | ||||||
Series 406, Class 23, IO, 6.00%, 11/25/2040 (z) | 140 | 32 | ||||||
FNMA REMICS, | ||||||||
Series 2007-30, Class JS, IF, IO, (6.33% - United States 30 Day Average SOFR), 1.01%, 04/25/2037 (aa) | 1,578 | 118 | ||||||
Series 2012-53, Class IO, IO, 3.50%, 05/25/2027 | 376 | 14 | ||||||
Series 2012-98, Class JI, IO, 3.00%, 04/25/2027 | 683 | 9 | ||||||
Series 2012-135, Class SB, IF, IO, (5.99% - United States 30 Day Average SOFR), 0.67%, 12/25/2042 (aa) | 948 | 73 | ||||||
Series 2013-109, Class BO, PO, Zero Coupon, 07/25/2043 | 411 | 233 | ||||||
Series 2014-34, Class US, IF, (8.37% - United States 30 Day Average SOFR), 0.00%, 06/25/2044 (aa) | 67 | 49 | ||||||
Series 2016-26, Class SY, IF, (6.77% - United States 30 Day Average SOFR), 0.00%, 11/25/2042 (aa) | 514 | 281 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Collateralized Mortgage Obligations continued | ||||||||
Series 2016-63, Class AS, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.57%, 09/25/2046 (aa) | 1,535 | 127 | ||||||
Series 2016-71, Class NI, IO, 3.50%, 04/25/2046 | 778 | 103 | ||||||
Series 2017-97, Class BF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 12/25/2047 (aa) | 4,677 | 4,474 | ||||||
Series 2018-67, Class HF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 09/25/2048 (aa) | 2,500 | 2,387 | ||||||
Series 2018-67, Class SH, IF, IO, (6.09% - United States 30 Day Average SOFR), 0.77%, 09/25/2048 (aa) | 3,122 | 268 | ||||||
Series 2018-77, Class PF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 10/25/2048 (aa) | 2,008 | 1,914 | ||||||
Series 2019-48, Class IB, IO, 0.67%, 06/25/2039 (z) | 21,002 | 438 | ||||||
Series 2019-68, Class US, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.57%, 11/25/2049 (aa) | 6,178 | 555 | ||||||
Series 2019-78, Class DI, IO, 4.50%, 11/25/2049 | 602 | 95 | ||||||
Series 2020-42, Class CI, IO, 3.00%, 06/25/2050 | 12,489 | 2,003 | ||||||
Series 2020-60, Class BI, IO, 3.50%, 09/25/2050 | 11,241 | 2,105 | ||||||
Series 2020-68, Class CI, IO, 3.00%, 10/25/2050 | 8,493 | 1,184 | ||||||
Series 2020-74, Class PI, IO, 2.00%, 12/25/2049 | 10,266 | 1,062 | ||||||
Series 2020-86, Class PI, IO, 2.50%, 12/25/2050 | 3,262 | 504 | ||||||
Series 2020-89, Class IM, IO, 2.00%, 12/25/2050 | 9,717 | 1,210 | ||||||
Series 2020-89, Class LI, IO, 3.00%, 12/25/2050 | 11,316 | 1,873 | ||||||
Series 2020-99, Class IQ, IO, 3.00%, 01/25/2051 | 932 | 165 | ||||||
Series 2021-3, Class TI, IO, 2.50%, 02/25/2051 | 2,598 | 444 | ||||||
Series 2021-8, Class YF, (United States 30 Day Average SOFR + 0.20%), 5.05%, 03/25/2061 (aa) | 9,084 | 8,807 | ||||||
GNMA, | ||||||||
Series 2015-H03, Class FA, (CME Term SOFR 1 Month + 0.61%), 5.93%, 12/20/2064 (aa) | 42 | 42 | ||||||
Series 2015-H33, Class FA, (CME Term SOFR 1 Month + 0.77%), 4.61%, 12/20/2065 (aa) | 8,865 | 8,772 | ||||||
Series 2017-H03, Class HA, 3.00%, 01/20/2067 | 4,200 | 4,012 | ||||||
Series 2019-65, Class ID, IO, 4.00%, 02/20/2049 | 1,373 | 186 | ||||||
Series 2019-H08, Class FE, (CME Term SOFR 1 Month + 0.76%), 3.88%, 01/20/2069 (aa) | 4,045 | 3,936 | ||||||
Series 2019-H16, Class FD, (CME Term SOFR 1 Month + 0.91%), 4.00%, 10/20/2069 (aa) | 2,345 | 2,324 | ||||||
Series 2020-142, Class LI, IO, 2.50%, 09/20/2050 | 10,812 | 1,438 | ||||||
Series 2020-142, Class MT, IF, IO, (6.04% - CME Term SOFR 1 Month), 0.05%, 07/20/2047 (aa) | 13,140 | 23 | ||||||
Series 2020-142, Class TN, IF, IO, (6.09% - CME Term SOFR 1 Month), 0.10%, 09/20/2047 (aa) | 17,573 | 70 | ||||||
Series 2020-H12, Class F, (CME Term SOFR 1 Month + 0.61%), 5.53%, 07/20/2070 (aa) | 584 | 568 | ||||||
Series 2020-H13, Class FA, (CME Term SOFR 1 Month + 0.56%), 5.00%, 07/20/2070 (aa) | 6,670 | 6,456 | ||||||
Series 2020-H14, Class FH, (CME Term SOFR 1 Month + 1.36%), 6.56%, 08/20/2070 (aa) | 6,608 | 6,696 | ||||||
Series 2020-H15, Class FH, (CME Term SOFR 1 Month + 1.16%), 4.95%, 07/20/2070 (aa) | 2,804 | 2,778 | ||||||
Series 2020-H15, Class FK, (CME Term SOFR 1 Month + 1.36%), 4.63%, 04/20/2070 (aa) | 4,972 | 4,952 | ||||||
Series 2020-H16, Class FN, (CME Term SOFR 1 Month + 1.36%), 6.17%, 09/20/2070 (aa) | 1,833 | 1,855 | ||||||
Series 2021-23, Class GI, IO, 2.00%, 02/20/2051 | 11,584 | 1,274 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Collateralized Mortgage Obligations continued | ||||||||
Series 2021-122, Class IT, IO, 2.50%, 07/20/2051 | 11,808 | 1,590 | ||||||
Series 2021-206, Class IG, IO, 2.50%, 09/20/2051 | 10,147 | 1,193 | ||||||
Series 2021-223, Class QI, IO, 2.50%, 10/20/2051 | 10,809 | 1,181 | ||||||
Series 2021-H03, Class ML, 7.30%, 01/20/2071 (z) | 9,128 | 9,278 | ||||||
Series 2021-H05, Class FJ, (United States 30 Day Average SOFR + 0.75%), 5.14%, 03/20/2071 (aa) | 307 | 303 | ||||||
Series 2021-H12, Class DF, (United States 30 Day Average SOFR + 1.50%), 6.81%, 08/20/2071 (aa) | 1,991 | 2,020 | ||||||
Series 2021-H14, Class HF, (United States 30 Day Average SOFR + 1.50%), 6.71%, 09/20/2071 (aa) | 7,770 | 7,940 | ||||||
Series 2021-H16, Class F, (United States 30 Day Average SOFR + 1.50%), 6.81%, 09/20/2071 (aa) | 9,586 | 9,818 | ||||||
Series 2022-H09, Class FA, (United States 30 Day Average SOFR + 0.67%), 5.98%, 04/20/2072 (aa) | 555 | 543 | ||||||
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.21%, 01/20/2073 (aa) | 2,943 | 2,935 | ||||||
Series 2023-H02, Class FL, (United States 30 Day Average SOFR + 0.90%), 6.14%, 01/20/2073 (aa) | 8,550 | 8,527 | ||||||
Series 2023-H02, Class JF, (United States 30 Day Average SOFR + 0.90%), 6.21%, 01/20/2073 (aa) | 6,632 | 6,613 | ||||||
Series 2023-H03, Class FA, (United States 30 Day Average SOFR + 0.87%), 6.18%, 02/20/2073 (aa) | 11,779 | 11,723 | ||||||
Series 2023-H09, Class FA, (United States 30 Day Average SOFR + 0.80%), 6.11%, 04/20/2073 (aa) | 2,025 | 2,006 | ||||||
Series 2023-H11, Class FC, (United States 30 Day Average SOFR + 1.10%), 6.41%, 05/20/2073 (aa) | 8,703 | 8,765 | ||||||
Series 2023-H11, Class FD, (United States 30 Day Average SOFR + 1.15%), 6.46%, 05/20/2073 (aa) | 1,510 | 1,521 | ||||||
Series 2023-H15, Class FB, (United States 30 Day Average SOFR + 1.00%), 6.31%, 03/20/2073 (aa) | 2,020 | 2,006 | ||||||
GS Mortgage-Backed Securities Trust, | ||||||||
Series 2021-GR2, Class A2, 2.50%, 02/25/2052 (e) (z) | 1,086 | 823 | ||||||
Series 2021-INV1, Class A2, 2.50%, 12/25/2051 (e) (z) | 841 | 636 | ||||||
IMS Ecuadorian Mortgage Trust, Series 2021-1, Class GA, 3.40%, 08/18/2043 (e) | 1,941 | 1,778 | ||||||
MFA Trust, Series 2020-NQM2, Class A1, 1.38%, 04/25/2065 (e) (z) | 3,191 | 2,881 | ||||||
Morgan Stanley Residential Mortgage Loan Trust, Series 2021-6, Class A6, (United States 30 Day Average SOFR + 0.85%), 5.00%, 09/25/2051 (e) (aa) | 1,839 | 1,684 | ||||||
OBX Trust, Series 2021-INV2, Class A11, (United States 30 Day Average SOFR + 0.90%), 5.00%, 10/25/2051 (e) (aa) | 431 | 392 | ||||||
PMT Loan Trust, |
||||||||
Series 2021-INV1, Class A11, (United States 30 Day Average SOFR + 0.90%), 5.00%, 07/25/2051 (e) (aa) | 8,524 | 7,769 | ||||||
Series 2021-INV1, Class A3, 2.50%, 07/25/2051 (e) (z) | 4,051 | 3,060 | ||||||
|
|
|||||||
Total Collateralized Mortgage Obligations (Cost $246,769) |
226,940 | |||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities 0.5% | ||||||||
AREIT LLC, Series 2023-CRE8, Class A, (CME Term SOFR 1 Month + 2.11%), 7.44%, 02/17/2028 (e) (aa) | 1,700 | 1,690 | ||||||
Banc of America Commercial Mortgage Trust, Series 2015-UBS7, Class ASB, 3.43%, 09/15/2048 | 273 | 263 | ||||||
BANK, | ||||||||
Series 2017-BNK7, Class AS, 3.75%, 09/15/2060 | 750 | 672 | ||||||
Series 2018-BN13, Class A5, 4.22%, 08/15/2061 (z) | 500 | 462 | ||||||
Series 2018-BN15, Class A4, 4.41%, 11/15/2061 (z) | 1,235 | 1,150 | ||||||
Barclays Commercial Mortgage Trust, | ||||||||
Series 2019-C5, Class A4, 3.06%, 11/15/2052 | 1,000 | 855 | ||||||
Series 2019-C5, Class ASB, 2.99%, 11/15/2052 | 500 | 458 | ||||||
BBCMS Mortgage Trust, | ||||||||
Series 2020-C6, Class ASB, 2.60%, 02/15/2053 | 600 | 533 | ||||||
Series 2020-C7, Class A5, 2.04%, 04/15/2053 | 210 | 166 | ||||||
BCP Trust, Series 2021-330N, Class A, (CME Term SOFR 1 Month + 0.91%), 6.25%, 06/15/2038 (e) (aa) | 2,800 | 2,478 | ||||||
Benchmark Mortgage Trust, | ||||||||
Series 2020-B16, Class AM, 2.94%, 02/15/2053 (z) | 350 | 282 | ||||||
Series 2020-B17, Class A5, 2.29%, 03/15/2053 | 500 | 394 | ||||||
Series 2020-B20, Class A5, 2.03%, 10/15/2053 | 750 | 559 | ||||||
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.70%, 09/15/2036 (e) (aa) | 4,600 | 4,304 | ||||||
BX Commercial Mortgage Trust, Series 2021-21M, Class A, (CME Term SOFR 1 Month + 0.84%), 6.18%, 10/15/2036 (e) (aa) | 2,235 | 2,191 | ||||||
CD Mortgage Trust, Series 2017-CD5, Class AAB, 3.22%, 08/15/2050 | 768 | 726 | ||||||
CGMS Commercial Mortgage Trust, Series 2017-B1, Class A4, 3.46%, 08/15/2050 | 1,100 | 995 | ||||||
Citigroup Commercial Mortgage Trust, | ||||||||
Series 2014-GC23, Class AS, 3.86%, 07/10/2047 | 250 | 240 | ||||||
Series 2014-GC25, Class A4, 3.64%, 10/10/2047 | 500 | 485 | ||||||
Series 2015-GC33, Class AS, 4.11%, 09/10/2058 | 500 | 468 | ||||||
Series 2019-GC41, Class AS, 3.02%, 08/10/2056 | 250 | 205 | ||||||
COMM Mortgage Trust, Series 2016-CR28, Class ASB, 3.53%, 02/10/2049 | 224 | 216 | ||||||
CSAIL Commercial Mortgage Trust, Series 2016-C7, Class ASB, 3.31%, 11/15/2049 | 202 | 194 | ||||||
CSMC, Series 2020-FACT, Class A, (CME Term SOFR 1 Month + 1.46%), 6.80%, 10/15/2037 (e) (aa) | 2,100 | 2,054 | ||||||
FHLMC Multifamily Structured Pass Through Certificates, | ||||||||
Series K047, Class A2, 3.33%, 05/25/2025 (z) | 1,000 | 966 | ||||||
Series K049, Class A2, 3.01%, 07/25/2025 | 250 | 240 | ||||||
Series K057, Class A2, 2.57%, 07/25/2026 | 850 | 795 | ||||||
Series K063, Class A2, 3.43%, 01/25/2027 (z) | 1,000 | 946 | ||||||
Series K071, Class A2, 3.29%, 11/25/2027 | 500 | 465 | ||||||
Series K073, Class A2, 3.35%, 01/25/2028 | 1,000 | 930 | ||||||
Series K075, Class A2, 3.65%, 02/25/2028 (z) | 500 | 470 | ||||||
Series K094, Class A2, 2.90%, 06/25/2029 | 112 | 100 | ||||||
Series K103, Class A2, 2.65%, 11/25/2029 | 500 | 434 | ||||||
Series K108, Class A2, 1.52%, 03/25/2030 | 304 | 244 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities continued | ||||||||
Series K117, Class A2, 1.41%, 08/25/2030 | 1,500 | 1,173 | ||||||
Series K118, Class A2, 1.49%, 09/25/2030 | 500 | 392 | ||||||
Series K725, Class A2, 3.00%, 01/25/2024 | 194 | 192 | ||||||
Series K726, Class A2, 2.91%, 04/25/2024 | 681 | 672 | ||||||
Series K729, Class A2, 3.14%, 10/25/2024 | 200 | 195 | ||||||
Series K737, Class A2, 2.53%, 10/25/2026 | 650 | 601 | ||||||
Series K-152, Class A2, 3.78%, 11/25/2032 (z) | 2,500 | 2,233 | ||||||
FNMA-ACES, | ||||||||
Series 2015-M10, Class A2, 3.09%, 04/25/2027 (z) | 450 | 422 | ||||||
Series 2016-M5, Class A2, 2.47%, 04/25/2026 | 461 | 431 | ||||||
Series 2017-M11, Class A2, 2.98%, 08/25/2029 | 964 | 862 | ||||||
Series 2017-M12, Class A2, 3.16%, 06/25/2027 (z) | 92 | 86 | ||||||
Series 2017-M13, Class A2, 3.03%, 09/25/2027 (z) | 511 | 471 | ||||||
Series 2018-M8, Class A2, 3.41%, 06/25/2028 (z) | 907 | 842 | ||||||
Series 2020-M46, Class A2, 1.32%, 05/25/2030 | 1,000 | 794 | ||||||
GS Mortgage Securities Trust, Series 2019-GSA1, Class A4, 3.05%, 11/10/2052 | 250 | 214 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust, | ||||||||
Series 2016-C29, Class A4, 3.33%, 05/15/2049 | 500 | 464 | ||||||
Series 2016-C31, Class A5, 3.10%, 11/15/2049 | 500 | 453 | ||||||
Series 2016-C32, Class A4, 3.72%, 12/15/2049 | 1,000 | 923 | ||||||
UBS Commercial Mortgage Trust, | ||||||||
Series 2018-C11, Class ASB, 4.12%, 06/15/2051 | 664 | 628 | ||||||
Series 2018-C12, Class A5, 4.30%, 08/15/2051 | 1,380 | 1,262 | ||||||
Wells Fargo Commercial Mortgage Trust, | ||||||||
Series 2014-LC18, Class A5, 3.41%, 12/15/2047 | 420 | 403 | ||||||
Series 2015-C27, Class A5, 3.45%, 02/15/2048 | 918 | 876 | ||||||
Series 2015-LC20, Class A5, 3.18%, 04/15/2050 | 500 | 476 | ||||||
Series 2017-C39, Class A5, 3.42%, 09/15/2050 | 1,000 | 908 | ||||||
Series 2017-C40, Class A4, 3.58%, 10/15/2050 | 550 | 501 | ||||||
Series 2018-C44, Class A5, 4.21%, 05/15/2051 | 1,000 | 924 | ||||||
Series 2021-C60, Class A4, 2.34%, 08/15/2054 | 550 | 424 | ||||||
|
|
|||||||
Total Commercial Mortgage-Backed Securities (Cost $51,808) |
45,452 | |||||||
|
|
|||||||
Corporate Bonds 42.3% | ||||||||
Basic Materials 1.1% | ||||||||
Chemicals 0.5% | ||||||||
Air Liquide Finance SA, (France), | ||||||||
Reg. S, 0.63%, 06/20/2030 | EUR | 800 | 693 | |||||
Reg. S, 0.75%, 06/13/2024 | EUR | 1,200 | 1,240 | |||||
Air Products and Chemicals, Inc., | ||||||||
0.50%, 05/05/2028 | EUR | 1,000 | 908 | |||||
0.80%, 05/05/2032 | EUR | 2,000 | 1,627 | |||||
1.00%, 02/12/2025 | EUR | 4,450 | 4,532 | |||||
2.80%, 05/15/2050 | 15 | 9 | ||||||
4.00%, 03/03/2035 | EUR | 1,600 | 1,642 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Chemicals continued | ||||||||
Akzo Nobel NV, (Netherlands), | ||||||||
Reg. S, 1.50%, 03/28/2028 | EUR | 1,000 | 948 | |||||
Reg. S, 2.00%, 03/28/2032 | EUR | 1,000 | 877 | |||||
Argentum Netherlands BV for Givaudan SA, (Netherlands), | ||||||||
Reg. S, 1.13%, 09/17/2025 | EUR | 800 | 798 | |||||
Reg. S, 2.00%, 09/17/2030 | EUR | 1,000 | 925 | |||||
Arkema SA, (France), | ||||||||
Reg. S, 0.75%, 12/03/2029 | EUR | 1,000 | 873 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.57%), 1.50%, 10/21/2025 (x) (aa) | EUR | 1,000 | 940 | |||||
Reg. S, 1.50%, 04/20/2027 | EUR | 1,000 | 977 | |||||
Brenntag Finance BV, (Netherlands), | ||||||||
Reg. S, 0.50%, 10/06/2029 | EUR | 500 | 416 | |||||
Reg. S, 1.13%, 09/27/2025 | EUR | 1,000 | 998 | |||||
Celanese US Holdings LLC, | ||||||||
6.35%, 11/15/2028 | 130 | 128 | ||||||
6.70%, 11/15/2033 | 15 | 15 | ||||||
CF Industries, Inc., 4.50%, 12/01/2026 (e) | 1,800 | 1,722 | ||||||
Covestro AG, (Germany), Reg. S, 0.88%, 02/03/2026 | EUR | 1,875 | 1,853 | |||||
Dow Chemical Co. (The), | ||||||||
4.55%, 11/30/2025 | 118 | 115 | ||||||
5.25%, 11/15/2041 | 600 | 529 | ||||||
6.90%, 05/15/2053 | 960 | 1,007 | ||||||
Ecolab, Inc., 1.00%, 01/15/2024 | EUR | 1,950 | 2,042 | |||||
FMC Corp., | ||||||||
5.15%, 05/18/2026 | 675 | 656 | ||||||
5.65%, 05/18/2033 | 1,390 | 1,258 | ||||||
Givaudan Finance Europe BV, (Netherlands), Reg. S, 1.00%, 04/22/2027 | EUR | 100 | 95 | |||||
Huntsman International LLC, 4.50%, 05/01/2029 | 975 | 882 | ||||||
LANXESS AG, (Germany), Reg. S, 0.63%, 12/01/2029 | EUR | 500 | 410 | |||||
Linde Finance BV, (Netherlands), | ||||||||
Reg. S, 0.25%, 05/19/2027 | EUR | 1,000 | 933 | |||||
Reg. S, 0.55%, 05/19/2032 | EUR | 800 | 643 | |||||
Reg. S, 1.00%, 04/20/2028 | EUR | 1,000 | 954 | |||||
Linde plc, (Ireland), Reg. S, 1.00%, 09/30/2051 | EUR | 1,500 | 773 | |||||
LYB International Finance BV, (Netherlands), 4.88%, 03/15/2044 | 550 | 441 | ||||||
LYB International Finance II BV, (Netherlands), | ||||||||
0.88%, 09/17/2026 | EUR | 1,000 | 953 | |||||
1.63%, 09/17/2031 | EUR | 1,000 | 848 | |||||
3.50%, 03/02/2027 | 100 | 93 | ||||||
LYB International Finance III LLC, | ||||||||
3.38%, 10/01/2040 | 290 | 197 | ||||||
3.63%, 04/01/2051 | 235 | 150 | ||||||
PPG Industries, Inc., | ||||||||
0.88%, 11/03/2025 | EUR | 1,000 | 989 | |||||
1.20%, 03/15/2026 | 35 | 32 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Chemicals continued | ||||||||
1.40%, 03/13/2027 | EUR | 1,000 | 964 | |||||
1.88%, 06/01/2025 | EUR | 1,500 | 1,527 | |||||
2.75%, 06/01/2029 | EUR | 1,000 | 983 | |||||
RPM International, Inc., 2.95%, 01/15/2032 | 180 | 140 | ||||||
Solvay SA, (Belgium), Reg. S, 2.75%, 12/02/2027 | EUR | 1,000 | 1,010 | |||||
Westlake Corp., 1.63%, 07/17/2029 | EUR | 3,000 | 2,641 | |||||
Yara International ASA, (Norway), 3.15%, 06/04/2030 (e) | 1,000 | 820 | ||||||
|
|
|||||||
44,206 | ||||||||
|
|
|||||||
Forest Products & Paper 0.0% (g) | ||||||||
Georgia-Pacific LLC, 8.88%, 05/15/2031 | 100 | 118 | ||||||
Mondi Finance Europe GmbH, (Austria), Reg. S, 2.38%, 04/01/2028 | EUR | 500 | 491 | |||||
Mondi Finance plc, (United Kingdom), | ||||||||
Reg. S, 1.50%, 04/15/2024 | EUR | 500 | 520 | |||||
Reg. S, 1.63%, 04/27/2026 | EUR | 1,000 | 994 | |||||
|
|
|||||||
2,123 | ||||||||
|
|
|||||||
Iron/Steel 0.1% | ||||||||
ArcelorMittal SA, (Luxembourg), | ||||||||
Reg. S, 1.75%, 11/19/2025 | EUR | 1,500 | 1,501 | |||||
Reg. S, 4.88%, 09/26/2026 | EUR | 1,500 | 1,605 | |||||
Nucor Corp., 2.98%, 12/15/2055 | 28 | 16 | ||||||
Reliance Steel & Aluminum Co., | ||||||||
1.30%, 08/15/2025 | 320 | 293 | ||||||
2.15%, 08/15/2030 | 1,080 | 849 | ||||||
Steel Dynamics, Inc., 3.25%, 01/15/2031 | 4,050 | 3,427 | ||||||
|
|
|||||||
7,691 | ||||||||
|
|
|||||||
Mining 0.5% |
||||||||
Anglo American Capital plc, (United Kingdom), | ||||||||
Reg. S, 1.63%, 09/18/2025 | EUR | 1,000 | 1,010 | |||||
Reg. S, 1.63%, 03/11/2026 | EUR | 1,000 | 997 | |||||
Barrick PD Australia Finance Pty Ltd., (Australia), 5.95%, 10/15/2039 | 920 | 904 | ||||||
BHP Billiton Finance Ltd., (Australia), | ||||||||
Series 10, Reg. S, 3.25%, 09/24/2027 | EUR | 1,898 | 1,954 | |||||
Series 12, Reg. S, 4.30%, 09/25/2042 | GBP | 8,000 | 7,847 | |||||
Series 13, Reg. S, 3.13%, 04/29/2033 | EUR | 5,991 | 5,712 | |||||
Series 17, Reg. S, 1.50%, 04/29/2030 | EUR | 2,175 | 1,936 | |||||
BHP Billiton Finance USA Ltd., (Australia), | ||||||||
4.75%, 02/28/2028 | 600 | 584 | ||||||
4.90%, 02/28/2033 | 275 | 262 | ||||||
5.50%, 09/08/2053 | 135 | 129 | ||||||
Freeport-McMoRan, Inc., 4.13%, 03/01/2028 | 1,500 | 1,374 | ||||||
Glencore Capital Finance DAC, (Ireland), Reg. S, 0.75%, 03/01/2029 | EUR | 1,900 | 1,635 | |||||
Glencore Finance Europe Ltd., (Jersey), | ||||||||
Reg. S, 0.63%, 09/11/2024 | EUR | 7,500 | 7,657 | |||||
Reg. S, 1.50%, 10/15/2026 | EUR | 3,500 | 3,421 | |||||
Reg. S, 3.75%, 04/01/2026 | EUR | 1,500 | 1,568 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Mining continued |
||||||||
Kinross Gold Corp., (Canada), | ||||||||
4.50%, 07/15/2027 | 2,500 | 2,381 | ||||||
6.25%, 07/15/2033 (e) | 720 | 692 | ||||||
Norsk Hydro ASA, (Norway), | ||||||||
Reg. S, 1.13%, 04/11/2025 | EUR | 2,700 | 2,722 | |||||
Reg. S, 2.00%, 04/11/2029 | EUR | 800 | 734 | |||||
Orano SA, (France), | ||||||||
Reg. S, 2.75%, 03/08/2028 | EUR | 100 | 97 | |||||
Reg. S, 5.38%, 05/15/2027 | EUR | 200 | 213 | |||||
Rio Tinto Finance plc, (United Kingdom), Reg. S, 4.00%, 12/11/2029 | GBP | 2,000 | 2,253 | |||||
Rio Tinto Finance USA Ltd., (Australia), 2.75%, 11/02/2051 | 246 | 147 | ||||||
Rio Tinto Finance USA plc, (United Kingdom), 5.13%, 03/09/2053 | 315 | 286 | ||||||
Southern Copper Corp., | ||||||||
3.88%, 04/23/2025 | 140 | 134 | ||||||
5.25%, 11/08/2042 | 567 | 490 | ||||||
5.88%, 04/23/2045 | 9 | 8 | ||||||
6.75%, 04/16/2040 | 10 | 11 | ||||||
7.50%, 07/27/2035 | 300 | 330 | ||||||
Yamana Gold, Inc., (Canada), 2.63%, 08/15/2031 | 2,705 | 2,076 | ||||||
|
|
|||||||
49,564 | ||||||||
|
|
|||||||
Total Basic Materials | 103,584 | |||||||
|
|
|||||||
Communications 2.3% |
||||||||
Advertising 0.2% |
||||||||
Interpublic Group of Cos., Inc. (The), 3.38%, 03/01/2041 | 64 | 42 | ||||||
JCDecaux SE, (France), | ||||||||
Reg. S, 1.63%, 02/07/2030 | EUR | 1,000 | 863 | |||||
Reg. S, 2.63%, 04/24/2028 | EUR | 1,000 | 968 | |||||
Reg. S, 5.00%, 01/11/2029 | EUR | 4,500 | 4,750 | |||||
MMS USA Holdings, Inc., | ||||||||
Reg. S, 0.63%, 06/13/2025 | EUR | 2,900 | 2,886 | |||||
Reg. S, 1.25%, 06/13/2028 | EUR | 3,700 | 3,449 | |||||
Reg. S, 1.75%, 06/13/2031 | EUR | 5,000 | 4,447 | |||||
Omnicom Group, Inc., 2.60%, 08/01/2031 | 620 | 491 | ||||||
|
|
|||||||
17,896 | ||||||||
|
|
|||||||
Internet 0.6% |
||||||||
Alphabet, Inc., | ||||||||
1.90%, 08/15/2040 | 700 | 438 | ||||||
2.25%, 08/15/2060 | 265 | 141 | ||||||
Amazon.com, Inc., | ||||||||
3.10%, 05/12/2051 | 75 | 50 | ||||||
3.25%, 05/12/2061 | 15 | 10 | ||||||
3.45%, 04/13/2029 | 885 | 817 | ||||||
Booking Holdings, Inc., | ||||||||
0.10%, 03/08/2025 | EUR | 1,500 | 1,500 | |||||
0.50%, 03/08/2028 | EUR | 4,500 | 4,097 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Internet continued |
||||||||
1.80%, 03/03/2027 | EUR | 1,500 | 1,477 | |||||
2.38%, 09/23/2024 | EUR | 1,000 | 1,040 | |||||
3.60%, 06/01/2026 | 50 | 48 | ||||||
3.63%, 11/12/2028 | EUR | 6,000 | 6,227 | |||||
4.50%, 11/15/2031 | EUR | 5,000 | 5,349 | |||||
4.63%, 04/13/2030 | 315 | 299 | ||||||
Expedia Group, Inc., | ||||||||
3.80%, 02/15/2028 | 700 | 640 | ||||||
4.63%, 08/01/2027 | 700 | 667 | ||||||
Meta Platforms, Inc., | ||||||||
3.50%, 08/15/2027 | 240 | 226 | ||||||
3.85%, 08/15/2032 | 460 | 408 | ||||||
4.65%, 08/15/2062 | 150 | 119 | ||||||
5.60%, 05/15/2053 | 500 | 473 | ||||||
5.75%, 05/15/2063 | 455 | 429 | ||||||
Netflix, Inc., 4.63%, 05/15/2029 |
EUR | 15,000 | 15,990 | |||||
Prosus NV, (Netherlands), | ||||||||
Reg. S, 1.21%, 01/19/2026 | EUR | 4,000 | 3,850 | |||||
Reg. S, 1.29%, 07/13/2029 | EUR | 9,000 | 7,184 | |||||
Reg. S, 1.54%, 08/03/2028 | EUR | 1,000 | 859 | |||||
Reg. S, 1.99%, 07/13/2033 | EUR | 5,937 | 4,191 | |||||
Reg. S, 2.03%, 08/03/2032 | EUR | 3,900 | 2,882 | |||||
Reg. S, 2.09%, 01/19/2030 | EUR | 1,000 | 813 | |||||
Reg. S, 2.78%, 01/19/2034 | EUR | 2,700 | 2,016 | |||||
VeriSign, Inc., | ||||||||
2.70%, 06/15/2031 | 1,090 | 868 | ||||||
4.75%, 07/15/2027 | 277 | 266 | ||||||
5.25%, 04/01/2025 | 267 | 264 | ||||||
|
|
|||||||
63,638 | ||||||||
|
|
|||||||
Media 0.6% |
||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital, | ||||||||
3.70%, 04/01/2051 | 2,440 | 1,418 | ||||||
3.95%, 06/30/2062 | 330 | 187 | ||||||
4.50%, 02/01/2024 | 105 | 104 | ||||||
4.80%, 03/01/2050 | 955 | 667 | ||||||
4.91%, 07/23/2025 | 45 | 44 | ||||||
5.25%, 04/01/2053 | 50 | 37 | ||||||
5.38%, 05/01/2047 | 185 | 141 | ||||||
5.50%, 04/01/2063 | 35 | 26 | ||||||
6.48%, 10/23/2045 | 300 | 262 | ||||||
Comcast Corp., | ||||||||
0.25%, 09/14/2029 | EUR | 3,100 | 2,645 | |||||
1.88%, 02/20/2036 | GBP | 575 | 469 | |||||
1.95%, 01/15/2031 | 2,875 | 2,253 | ||||||
2.35%, 01/15/2027 | 57 | 52 | ||||||
2.65%, 02/01/2030 | 440 | 372 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Media continued |
||||||||
2.65%, 08/15/2062 | 50 | 26 | ||||||
2.89%, 11/01/2051 | 190 | 112 | ||||||
2.99%, 11/01/2063 | 480 | 265 | ||||||
3.15%, 02/15/2028 | 81 | 74 | ||||||
3.20%, 07/15/2036 | 25 | 19 | ||||||
3.40%, 07/15/2046 | 420 | 287 | ||||||
3.75%, 04/01/2040 | 300 | 232 | ||||||
3.97%, 11/01/2047 | 145 | 108 | ||||||
4.25%, 10/15/2030 | 900 | 830 | ||||||
4.60%, 10/15/2038 | 120 | 105 | ||||||
Cox Communications, Inc., | ||||||||
3.50%, 08/15/2027 (e) | 3,180 | 2,907 | ||||||
3.85%, 02/01/2025 (e) | 1,500 | 1,454 | ||||||
5.45%, 09/15/2028 (e) | 700 | 688 | ||||||
Discovery Communications LLC, | ||||||||
4.13%, 05/15/2029 | 940 | 840 | ||||||
5.20%, 09/20/2047 | 1,100 | 833 | ||||||
FactSet Research Systems, Inc., | ||||||||
2.90%, 03/01/2027 | 965 | 880 | ||||||
3.45%, 03/01/2032 | 407 | 338 | ||||||
Informa plc, (United Kingdom), | ||||||||
Reg. S, 1.25%, 04/22/2028 | EUR | 13,100 | 12,006 | |||||
Reg. S, 2.13%, 10/06/2025 | EUR | 7,000 | 7,087 | |||||
Reg. S, 3.13%, 07/05/2026 | GBP | 1,100 | 1,246 | |||||
ITV plc, (United Kingdom), Reg. S, 1.38%, 09/26/2026 | EUR | 1,500 | 1,454 | |||||
Paramount Global, 4.85%, 07/01/2042 | 1,580 | 1,063 | ||||||
Pearson Funding plc, (United Kingdom), Reg. S, 3.75%, 06/04/2030 | GBP | 2,475 | 2,611 | |||||
TDF Infrastructure SASU, (France), Reg. S, 1.75%, 12/01/2029 | EUR | 4,500 | 3,840 | |||||
Time Warner Cable LLC, | ||||||||
4.50%, 09/15/2042 | 300 | 207 | ||||||
5.50%, 09/01/2041 | 800 | 625 | ||||||
Vivendi SE, (France), Reg. S, 1.13%, 12/11/2028 | EUR | 1,200 | 1,108 | |||||
Walt Disney Co. (The), | ||||||||
1.75%, 01/13/2026 | 45 | 42 | ||||||
2.00%, 09/01/2029 | 790 | 654 | ||||||
Wolters Kluwer NV, (Netherlands), | ||||||||
Reg. S, 0.25%, 03/30/2028 | EUR | 1,500 | 1,350 | |||||
Reg. S, 0.75%, 07/03/2030 | EUR | 1,475 | 1,267 | |||||
Reg. S, 1.50%, 03/22/2027 | EUR | 4,375 | 4,268 | |||||
|
|
|||||||
57,503 | ||||||||
|
|
|||||||
Telecommunications 0.9% |
||||||||
America Movil SAB de CV, (Mexico), | ||||||||
2.13%, 03/10/2028 | EUR | 1,300 | 1,272 | |||||
4.38%, 08/07/2041 | GBP | 1,500 | 1,498 | |||||
5.00%, 10/27/2026 | GBP | 1,200 | 1,440 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Telecommunications continued |
||||||||
AT&T, Inc., | ||||||||
1.65%, 02/01/2028 | 380 | 321 | ||||||
1.70%, 03/25/2026 | 1,290 | 1,170 | ||||||
1.80%, 09/05/2026 | EUR | 2,250 | 2,228 | |||||
2.05%, 05/19/2032 | EUR | 200 | 175 | |||||
2.45%, 03/15/2035 | EUR | 825 | 697 | |||||
3.50%, 06/01/2041 | 2,440 | 1,694 | ||||||
3.65%, 06/01/2051 | 1,800 | 1,159 | ||||||
3.65%, 09/15/2059 | 390 | 237 | ||||||
3.80%, 02/15/2027 | 40 | 38 | ||||||
3.85%, 06/01/2060 | 70 | 45 | ||||||
4.25%, 06/01/2043 | GBP | 200 | 183 | |||||
4.30%, 12/15/2042 | 100 | 77 | ||||||
4.50%, 03/09/2048 | 15 | 11 | ||||||
4.75%, 05/15/2046 | 70 | 55 | ||||||
4.85%, 03/01/2039 | 195 | 165 | ||||||
5.40%, 02/15/2034 | 310 | 290 | ||||||
7.00%, 04/30/2040 | GBP | 400 | 507 | |||||
Chorus Ltd., (New Zealand), Reg. S, 3.63%, 09/07/2029 | EUR | 2,650 | 2,697 | |||||
CK Hutchison Group Telecom Finance SA, (Luxembourg), Reg. S, 0.38%, 10/17/2023 | EUR | 1,300 | 1,372 | |||||
Corning, Inc., 5.45%, 11/15/2079 | 115 | 96 | ||||||
Emirates Telecommunications Group Co. PJSC, (United Arab Emirates), Reg. S, 0.88%, 05/17/2033 | EUR | 1,600 | 1,258 | |||||
Eutelsat SA, (France), | ||||||||
Reg. S, 2.00%, 10/02/2025 | EUR | 1,000 | 970 | |||||
Reg. S, 2.25%, 07/13/2027 | EUR | 1,000 | 891 | |||||
Juniper Networks, Inc., 2.00%, 12/10/2030 | 331 | 249 | ||||||
Koninklijke KPN NV, (Netherlands), | ||||||||
Reg. S, 3.88%, 07/03/2031 | EUR | 7,100 | 7,260 | |||||
Reg. S, 5.75%, 09/17/2029 | GBP | 5,000 | 6,024 | |||||
Motorola Solutions, Inc., | ||||||||
2.30%, 11/15/2030 | 47 | 37 | ||||||
2.75%, 05/24/2031 | 1,670 | 1,319 | ||||||
4.60%, 05/23/2029 | 40 | 38 | ||||||
5.50%, 09/01/2044 | 975 | 854 | ||||||
NBN Co. Ltd., (Australia), | ||||||||
Reg. S, 4.13%, 03/15/2029 | EUR | 2,000 | 2,094 | |||||
5.75%, 10/06/2028 (e) (w) | 765 | 766 | ||||||
NTT Finance Corp., (Japan), | ||||||||
Reg. S, 0.01%, 03/03/2025 | EUR | 500 | 499 | |||||
Reg. S, 0.08%, 12/13/2025 | EUR | 1,000 | 973 | |||||
Reg. S, 0.34%, 03/03/2030 | EUR | 500 | 423 | |||||
Reg. S, 0.40%, 12/13/2028 | EUR | 1,000 | 883 | |||||
O2 Telefonica Deutschland Finanzierungs GmbH, (Germany), Reg. S, 1.75%, 07/05/2025 | EUR | 1,000 | 1,009 | |||||
Optus Finance Pty Ltd., (Australia), Reg. S, 1.00%, 06/20/2029 | EUR | 1,400 | 1,217 | |||||
Orange SA, (France), |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Telecommunications continued |
||||||||
Reg. S, 0.00%, 09/04/2026 | EUR | 2,000 | 1,893 | |||||
Reg. S, 0.50%, 09/04/2032 | EUR | 2,000 | 1,577 | |||||
Reg. S, 3.25%, 01/15/2032 | GBP | 1,100 | 1,143 | |||||
OTE plc, (United Kingdom), Reg. S, 0.88%, 09/24/2026 | EUR | 100 | 97 | |||||
Proximus SADP, (Belgium), | ||||||||
Reg. S, 0.75%, 11/17/2036 | EUR | 100 | 69 | |||||
Reg. S, 1.88%, 10/01/2025 | EUR | 100 | 101 | |||||
Rogers Communications, Inc., (Canada), 3.20%, 03/15/2027 | 257 | 235 | ||||||
SES SA, (Luxembourg), Reg. S, 3.50%, 01/14/2029 | EUR | 2,300 | 2,262 | |||||
Sprint LLC, | ||||||||
7.63%, 02/15/2025 | 2,800 | 2,842 | ||||||
7.63%, 03/01/2026 | 2,500 | 2,570 | ||||||
Telefonaktiebolaget LM Ericsson, (Sweden), Reg. S, 1.00%, 05/26/2029 | EUR | 2,715 | 2,282 | |||||
Telenor ASA, (Norway), Reg. S, 0.25%, 02/14/2028 | EUR | 1,300 | 1,173 | |||||
Telia Co. AB, (Sweden), Reg. S, 2.13%, 02/20/2034 | EUR | 700 | 609 | |||||
Telstra Group Ltd., (Australia), | ||||||||
Reg. S, 1.00%, 04/23/2030 | EUR | 3,500 | 3,070 | |||||
Reg. S, 3.75%, 05/04/2031 | EUR | 8,425 | 8,764 | |||||
T-Mobile USA, Inc., | ||||||||
1.50%, 02/15/2026 | 10 | 9 | ||||||
2.05%, 02/15/2028 | 400 | 344 | ||||||
2.63%, 04/15/2026 | 510 | 471 | ||||||
3.00%, 02/15/2041 | 50 | 33 | ||||||
3.30%, 02/15/2051 | 120 | 75 | ||||||
3.60%, 11/15/2060 | 490 | 303 | ||||||
3.75%, 04/15/2027 | 380 | 355 | ||||||
3.88%, 04/15/2030 | 3,420 | 3,032 | ||||||
5.20%, 01/15/2033 | 165 | 156 | ||||||
5.80%, 09/15/2062 | 60 | 55 | ||||||
Verizon Communications, Inc., | ||||||||
0.88%, 04/02/2025 | EUR | 750 | 757 | |||||
0.88%, 04/08/2027 | EUR | 475 | 450 | |||||
1.68%, 10/30/2030 | 78 | 59 | ||||||
2.10%, 03/22/2028 | 350 | 301 | ||||||
2.50%, 04/08/2031 | GBP | 1,000 | 974 | |||||
2.55%, 03/21/2031 | 437 | 348 | ||||||
2.65%, 11/20/2040 | 990 | 626 | ||||||
3.25%, 02/17/2026 | EUR | 200 | 207 | |||||
3.38%, 02/15/2025 | 90 | 87 | ||||||
3.55%, 03/22/2051 | 70 | 46 | ||||||
3.88%, 03/01/2052 | 370 | 260 | ||||||
4.02%, 12/03/2029 | 150 | 136 | ||||||
4.13%, 08/15/2046 | 80 | 60 | ||||||
4.33%, 09/21/2028 | 860 | 808 | ||||||
4.75%, 10/31/2034 | EUR | 1,000 | 1,073 | |||||
|
|
|||||||
83,903 | ||||||||
|
|
|||||||
Total Communications | 222,940 | |||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Consumer Cyclical 2.7% |
||||||||
Airlines 0.2% |
||||||||
easyJet FinCo. BV, (Netherlands), Reg. S, 1.88%, 03/03/2028 | EUR | 15,600 | 14,453 | |||||
easyJet plc, (United Kingdom), Reg. S, 0.88%, 06/11/2025 | EUR | 1,500 | 1,497 | |||||
Ryanair DAC, (Ireland), | ||||||||
Reg. S, 0.88%, 05/25/2026 | EUR | 1,500 | 1,459 | |||||
Reg. S, 2.88%, 09/15/2025 | EUR | 1,000 | 1,033 | |||||
Southwest Airlines Co., 5.13%, 06/15/2027 | 1,150 | 1,122 | ||||||
United Airlines, Inc., | ||||||||
4.38%, 04/15/2026 (e) | 525 | 485 | ||||||
4.63%, 04/15/2029 (e) | 360 | 311 | ||||||
|
|
|||||||
20,360 | ||||||||
|
|
|||||||
Apparel 0.1% |
||||||||
Burberry Group plc, (United Kingdom), Reg. S, 1.13%, 09/21/2025 | GBP | 825 | 918 | |||||
LVMH Moet Hennessy Louis Vuitton SE, (France), | ||||||||
Reg. S, 0.13%, 02/11/2028 | EUR | 800 | 730 | |||||
Reg. S, 0.75%, 04/07/2025 | EUR | 300 | 303 | |||||
Reg. S, 1.13%, 02/11/2027 | GBP | 1,200 | 1,294 | |||||
Tapestry, Inc., | ||||||||
3.05%, 03/15/2032 | 955 | 700 | ||||||
4.13%, 07/15/2027 | 2,020 | 1,861 | ||||||
VF Corp., 2.40%, 04/23/2025 | 25 | 24 | ||||||
|
|
|||||||
5,830 | ||||||||
|
|
|||||||
Auto Manufacturers 1.1% |
||||||||
American Honda Finance Corp., | ||||||||
0.75%, 11/25/2026 | GBP | 4,800 | 5,076 | |||||
1.50%, 10/19/2027 | GBP | 2,300 | 2,422 | |||||
3.75%, 10/25/2027 | EUR | 3,300 | 3,451 | |||||
5.60%, 09/06/2030 | GBP | 4,875 | 5,943 | |||||
Cummins, Inc., 2.60%, 09/01/2050 | 160 | 92 | ||||||
Dongfeng Motor Hong Kong International Co. Ltd., (Hong Kong), Reg. S, 0.43%, 10/19/2024 | EUR | 600 | 601 | |||||
Ford Motor Co., 3.25%, 02/12/2032 | 700 | 539 | ||||||
Ford Motor Credit Co. LLC, | ||||||||
4.00%, 11/13/2030 | 545 | 455 | ||||||
4.95%, 05/28/2027 | 3,065 | 2,872 | ||||||
General Motors Co., | ||||||||
5.20%, 04/01/2045 | 560 | 435 | ||||||
6.25%, 10/02/2043 | 170 | 152 | ||||||
6.60%, 04/01/2036 | 520 | 506 | ||||||
General Motors Financial Co., Inc., | ||||||||
Reg. S, 1.69%, 03/26/2025 | EUR | 1,475 | 1,501 | |||||
Reg. S, 2.35%, 09/03/2025 | GBP | 8,725 | 9,900 | |||||
2.35%, 02/26/2027 | 110 | 97 | ||||||
2.70%, 08/20/2027 | 1,450 | 1,272 | ||||||
2.70%, 06/10/2031 | 585 | 447 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Auto Manufacturers continued |
||||||||
2.75%, 06/20/2025 | 980 | 923 | ||||||
2.90%, 02/26/2025 | 45 | 43 | ||||||
5.00%, 04/09/2027 | 1,120 | 1,075 | ||||||
Honda Motor Co. Ltd., (Japan), 2.53%, 03/10/2027 | 410 | 373 | ||||||
Mercedes-Benz Finance Canada, Inc., (Canada), Reg. S, 3.00%, 02/23/2027 | EUR | 2,625 | 2,697 | |||||
Mercedes-Benz Group AG, (Germany), | ||||||||
Reg. S, 1.13%, 11/06/2031 | EUR | 15 | 13 | |||||
Reg. S, 2.13%, 07/03/2037 | EUR | 775 | 648 | |||||
Mercedes-Benz International Finance BV, (Netherlands), Reg. S, 1.63%, 11/11/2024 | GBP | 5,000 | 5,839 | |||||
Nissan Motor Acceptance Co. LLC, 1.13%, 09/16/2024 (e) | 1,600 | 1,519 | ||||||
Nissan Motor Co. Ltd., (Japan), | ||||||||
Reg. S, 2.65%, 03/17/2026 | EUR | 4,800 | 4,835 | |||||
3.52%, 09/17/2025 (e) | 3,000 | 2,835 | ||||||
PACCAR Financial Europe BV, (Netherlands), Reg. S, 3.25%, 11/29/2025 | EUR | 8,750 | 9,116 | |||||
RCI Banque SA, (France), | ||||||||
Reg. S, 1.13%, 01/15/2027 | EUR | 5,000 | 4,757 | |||||
Reg. S, 4.75%, 07/06/2027 | EUR | 2,100 | 2,221 | |||||
Stellantis Finance US, Inc., 2.69%, 09/15/2031 (e) | 460 | 355 | ||||||
Stellantis NV, (Netherlands), Reg. S, 4.38%, 03/14/2030 | EUR | 2,075 | 2,164 | |||||
Toyota Motor Credit Corp., | ||||||||
0.80%, 01/09/2026 | 200 | 180 | ||||||
3.65%, 08/18/2025 | 580 | 561 | ||||||
3.95%, 06/30/2025 | 175 | 170 | ||||||
4.80%, 01/10/2025 | 110 | 109 | ||||||
5.00%, 08/14/2026 | 40 | 40 | ||||||
Toyota Motor Finance Netherlands BV, (Netherlands), Reg. S, 4.00%, 04/02/2027 (w) | EUR | 10,525 | 11,141 | |||||
Volkswagen Bank GmbH, (Germany), | ||||||||
Reg. S, 1.25%, 06/10/2024 | EUR | 1,500 | 1,553 | |||||
Reg. S, 1.25%, 12/15/2025 | EUR | 1,000 | 994 | |||||
Volkswagen Financial Services AG, (Germany), | ||||||||
Reg. S, 1.50%, 10/01/2024 | EUR | 1,000 | 1,031 | |||||
Reg. S, 2.25%, 10/16/2026 | EUR | 10 | 10 | |||||
Reg. S, 3.00%, 04/06/2025 | EUR | 20 | 21 | |||||
Reg. S, 3.38%, 04/06/2028 | EUR | 1,450 | 1,469 | |||||
Volkswagen Financial Services NV, (Netherlands), Reg. S, 1.13%, 07/05/2026 | GBP | 1,000 | 1,072 | |||||
Volkswagen Group of America Finance LLC, 4.35%, 06/08/2027 (e) | 1,540 | 1,466 | ||||||
Volkswagen International Finance NV, (Netherlands), | ||||||||
Reg. S, 0.05%, 06/10/2024 | EUR | 400 | 411 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.75%), 3.50%, 06/17/2025 (x) (aa) | EUR | 1,000 | 996 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.92%), 3.75%, 12/28/2027 (x) (aa) | EUR | 1,000 | 909 | |||||
Reg. S, (EUR Swap Rate 9 Year + 3.96%), 3.88%, 06/17/2029 (x) (aa) | EUR | 2,000 | 1,742 | |||||
Reg. S, (EUR Swap Rate 12 Year + 2.97%), 4.63%, 03/24/2026 (x) (aa) | EUR | 210 | 210 | |||||
Volkswagen Leasing GmbH, (Germany), | ||||||||
Reg. S, 0.38%, 07/20/2026 | EUR | 1,500 | 1,423 | |||||
Reg. S, 1.38%, 01/20/2025 | EUR | 1,000 | 1,018 | |||||
Reg. S, 1.50%, 06/19/2026 | EUR | 8,000 | 7,840 | |||||
|
|
|||||||
109,540 | ||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Auto Parts & Equipment 0.2% |
||||||||
Autoliv, Inc., Reg. S, 4.25%, 03/15/2028 | EUR | 2,125 | 2,223 | |||||
BorgWarner, Inc., 1.00%, 05/19/2031 | EUR | 1,500 | 1,199 | |||||
Cie Generale des Etablissements Michelin SCA, (France), Reg. S, 0.63%, 11/02/2040 | EUR | 300 | 183 | |||||
Hella GmbH & Co. KGaA, (Germany), Reg. S, 0.50%, 01/26/2027 | EUR | 6,000 | 5,592 | |||||
Magna International, Inc., (Canada), | ||||||||
2.45%, 06/15/2030 | 1,000 | 820 | ||||||
4.15%, 10/01/2025 | 2,000 | 1,939 | ||||||
Pirelli & C SpA, (Italy), Reg. S, 4.25%, 01/18/2028 | EUR | 2,925 | 3,099 | |||||
Robert Bosch GmbH, (Germany), Reg. S, 4.00%, 06/02/2035 | EUR | 4,500 | 4,588 | |||||
|
|
|||||||
19,643 | ||||||||
|
|
|||||||
Distribution/Wholesale 0.2% |
||||||||
Bunzl Finance plc, (United Kingdom), Reg. S, 1.50%, 10/30/2030 | GBP | 1,050 | 966 | |||||
IMCD NV, (Netherlands), | ||||||||
Reg. S, 2.13%, 03/31/2027 | EUR | 4,100 | 3,954 | |||||
Reg. S, 4.88%, 09/18/2028 | EUR | 14,250 | 14,911 | |||||
LKQ Corp., 5.75%, 06/15/2028 (e) | 70 | 68 | ||||||
|
|
|||||||
19,899 | ||||||||
|
|
|||||||
Entertainment 0.2% |
||||||||
Smithsonian Institution, 1.87%, 09/01/2029 | 1,000 | 828 | ||||||
Universal Music Group NV, (Netherlands), | ||||||||
Reg. S, 3.00%, 06/30/2027 | EUR | 7,350 | 7,518 | |||||
Reg. S, 4.00%, 06/13/2031 | EUR | 7,850 | 8,079 | |||||
Warnermedia Holdings, Inc., | ||||||||
5.05%, 03/15/2042 | 705 | 546 | ||||||
5.14%, 03/15/2052 | 1,140 | 845 | ||||||
|
|
|||||||
17,816 | ||||||||
|
|
|||||||
Food Service 0.1% |
||||||||
Compass Group plc, (United Kingdom), | ||||||||
Reg. S, 2.00%, 07/03/2029 | GBP | 2,500 | 2,568 | |||||
Reg. S, 3.85%, 06/26/2026 | GBP | 5,000 | 5,891 | |||||
Sodexo SA, (France), | ||||||||
Reg. S, 0.75%, 04/27/2025 | EUR | 1,000 | 1,004 | |||||
Reg. S, 1.00%, 07/17/2028 | EUR | 500 | 468 | |||||
Reg. S, 1.00%, 04/27/2029 | EUR | 1,000 | 916 | |||||
Reg. S, 1.13%, 05/22/2025 | EUR | 500 | 504 | |||||
Reg. S, 2.50%, 06/24/2026 | EUR | 500 | 510 | |||||
|
|
|||||||
11,861 | ||||||||
|
|
|||||||
Home Builders 0.0% (g) |
||||||||
Berkeley Group plc (The), (United Kingdom), Reg. S, 2.50%, 08/11/2031 | GBP | 172 | 141 | |||||
Lennar Corp., 5.00%, 06/15/2027 | 100 | 97 | ||||||
MDC Holdings, Inc., | ||||||||
2.50%, 01/15/2031 | 340 | 254 | ||||||
6.00%, 01/15/2043 | 190 | 159 | ||||||
NVR, Inc., 3.00%, 05/15/2030 | 1,082 | 902 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Home Builders continued |
||||||||
PulteGroup, Inc., | ||||||||
6.38%, 05/15/2033 | 174 | 175 | ||||||
7.88%, 06/15/2032 | 290 | 321 | ||||||
Toll Brothers Finance Corp., 3.80%, 11/01/2029 | 670 | 584 | ||||||
|
|
|||||||
2,633 | ||||||||
|
|
|||||||
Leisure Time 0.0% (g) |
||||||||
Brunswick Corp., 5.10%, 04/01/2052 | 65 | 45 | ||||||
|
|
|||||||
Lodging 0.2% |
||||||||
Choice Hotels International, Inc., 3.70%, 12/01/2029 | 101 | 87 | ||||||
Hyatt Hotels Corp., | ||||||||
1.80%, 10/01/2024 | 400 | 384 | ||||||
4.38%, 09/15/2028 | 100 | 92 | ||||||
InterContinental Hotels Group plc, (United Kingdom), | ||||||||
Reg. S, 1.63%, 10/08/2024 | EUR | 1,500 | 1,544 | |||||
Reg. S, 2.13%, 08/24/2026 | GBP | 600 | 657 | |||||
Reg. S, 2.13%, 05/15/2027 | EUR | 4,933 | 4,841 | |||||
Reg. S, 3.38%, 10/08/2028 | GBP | 450 | 483 | |||||
Reg. S, 3.75%, 08/14/2025 | GBP | 2,100 | 2,453 | |||||
Marriott International, Inc., | ||||||||
5.00%, 10/15/2027 | 995 | 970 | ||||||
5.45%, 09/15/2026 | 777 | 770 | ||||||
Series HH, 2.85%, 04/15/2031 | 1,108 | 893 | ||||||
Sands China Ltd., (Cayman Islands), | ||||||||
4.30%, 01/08/2026 | 585 | 547 | ||||||
4.88%, 06/18/2030 | 811 | 700 | ||||||
Whitbread Group plc, (United Kingdom), | ||||||||
Reg. S, 2.38%, 05/31/2027 | GBP | 1,000 | 1,056 | |||||
Reg. S, 3.00%, 05/31/2031 | GBP | 7,000 | 6,684 | |||||
|
|
|||||||
22,161 | ||||||||
|
|
|||||||
Retail 0.4% |
||||||||
AutoNation, Inc., | ||||||||
1.95%, 08/01/2028 | 121 | 99 | ||||||
4.75%, 06/01/2030 | 1,300 | 1,171 | ||||||
AutoZone, Inc., | ||||||||
1.65%, 01/15/2031 | 2,595 | 1,952 | ||||||
4.75%, 02/01/2033 | 850 | 773 | ||||||
5.05%, 07/15/2026 | 70 | 69 | ||||||
5.20%, 08/01/2033 | 215 | 201 | ||||||
Costco Wholesale Corp., 1.60%, 04/20/2030 | 40 | 32 | ||||||
Genuine Parts Co., | ||||||||
1.75%, 02/01/2025 | 299 | 282 | ||||||
1.88%, 11/01/2030 | 270 | 205 | ||||||
2.75%, 02/01/2032 | 225 | 176 | ||||||
Greene King Finance plc, (United Kingdom), Series A2, 5.32%, 09/15/2031 | GBP | 27 | 31 | |||||
H&M Finance BV, (Netherlands), Reg. S, 0.25%, 08/25/2029 | EUR | 1,500 | 1,270 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Retail continued |
||||||||
Home Depot, Inc. (The), | ||||||||
2.50%, 04/15/2027 | 100 | 91 | ||||||
3.50%, 09/15/2056 | 95 | 65 | ||||||
3.63%, 04/15/2052 | 280 | 200 | ||||||
4.20%, 04/01/2043 | 1,050 | 859 | ||||||
5.88%, 12/16/2036 | 90 | 93 | ||||||
Lowes Cos., Inc., | ||||||||
3.00%, 10/15/2050 | 50 | 30 | ||||||
3.35%, 04/01/2027 | 40 | 37 | ||||||
4.50%, 04/15/2030 | 100 | 93 | ||||||
McDonalds Corp., | ||||||||
Reg. S, 0.90%, 06/15/2026 | EUR | 1,500 | 1,470 | |||||
Reg. S, 1.75%, 05/03/2028 | EUR | 1,000 | 967 | |||||
Reg. S, 1.88%, 05/26/2027 | EUR | 1,000 | 986 | |||||
Reg. S, 2.38%, 11/27/2024 | EUR | 1,500 | 1,558 | |||||
Reg. S, 2.38%, 05/31/2029 | EUR | 200 | 193 | |||||
3.38%, 05/26/2025 | 50 | 48 | ||||||
3.63%, 09/01/2049 | 747 | 525 | ||||||
4.60%, 05/26/2045 | 150 | 125 | ||||||
5.15%, 09/09/2052 | 365 | 327 | ||||||
Pandora A/S, (Denmark), Reg. S, 4.50%, 04/10/2028 | EUR | 6,225 | 6,552 | |||||
REWE International Finance BV, (Netherlands), Reg. S, 4.88%, 09/13/2030 | EUR | 5,400 | 5,718 | |||||
Roadster Finance DAC, (Ireland), | ||||||||
Reg. S, 1.63%, 12/09/2024 | EUR | 500 | 497 | |||||
Reg. S, 2.38%, 12/08/2027 | EUR | 500 | 431 | |||||
Starbucks Corp., 4.75%, 02/15/2026 | 245 | 241 | ||||||
Walmart, Inc., | ||||||||
2.55%, 04/08/2026 | EUR | 2,550 | 2,609 | |||||
2.65%, 09/22/2051 | 20 | 12 | ||||||
4.50%, 04/15/2053 | 425 | 366 | ||||||
Wesfarmers Ltd., (Australia), Reg. S, 0.95%, 10/21/2033 | EUR | 2,381 | 1,822 | |||||
|
|
|||||||
32,176 | ||||||||
|
|
|||||||
Total Consumer Cyclical |
261,964 | |||||||
|
|
|||||||
Consumer Non-cyclical 5.3% |
||||||||
Agriculture 0.8% |
||||||||
Altria Group, Inc., | ||||||||
1.70%, 06/15/2025 | EUR | 2,000 | 2,027 | |||||
2.20%, 06/15/2027 | EUR | 4,800 | 4,692 | |||||
3.13%, 06/15/2031 | EUR | 2,000 | 1,797 | |||||
3.40%, 02/04/2041 | 525 | 341 | ||||||
3.70%, 02/04/2051 | 470 | 292 | ||||||
3.88%, 09/16/2046 | 245 | 161 | ||||||
4.00%, 02/04/2061 | 550 | 354 | ||||||
5.38%, 01/31/2044 | 65 | 58 | ||||||
5.95%, 02/14/2049 | 10 | 9 | ||||||
6.20%, 02/14/2059 | 28 | 26 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Agriculture continued |
||||||||
Archer-Daniels-Midland Co., 1.00%, 09/12/2025 | EUR | 1,500 | 1,498 | |||||
BAT Capital Corp., | ||||||||
Reg. S, 1.13%, 11/16/2023 | EUR | 100 | 105 | |||||
2.26%, 03/25/2028 | 100 | 85 | ||||||
2.79%, 09/06/2024 | 485 | 471 | ||||||
3.22%, 08/15/2024 | 58 | 56 | ||||||
3.56%, 08/15/2027 | 646 | 591 | ||||||
3.73%, 09/25/2040 | 45 | 30 | ||||||
4.54%, 08/15/2047 | 110 | 76 | ||||||
4.76%, 09/06/2049 | 85 | 60 | ||||||
7.08%, 08/02/2043 | 120 | 115 | ||||||
7.08%, 08/02/2053 | 105 | 99 | ||||||
BAT International Finance plc, (United Kingdom), | ||||||||
Reg. S, 1.25%, 03/13/2027 | EUR | 625 | 600 | |||||
Reg. S, 2.00%, 03/13/2045 | EUR | 800 | 466 | |||||
Reg. S, 2.25%, 06/26/2028 | GBP | 2,000 | 2,061 | |||||
Reg. S, 2.25%, 01/16/2030 | EUR | 2,500 | 2,229 | |||||
Reg. S, 2.25%, 09/09/2052 | GBP | 1,500 | 713 | |||||
Reg. S, 4.00%, 09/04/2026 | GBP | 3,450 | 3,999 | |||||
4.45%, 03/16/2028 | 150 | 140 | ||||||
5.93%, 02/02/2029 | 1,825 | 1,792 | ||||||
Reg. S, 6.00%, 11/24/2034 | GBP | 600 | 658 | |||||
Cargill, Inc., | ||||||||
1.70%, 02/02/2031 (e) | 750 | 579 | ||||||
2.13%, 04/23/2030 (e) | 1,500 | 1,228 | ||||||
Imperial Brands Finance plc, (United Kingdom), | ||||||||
Reg. S, 3.38%, 02/26/2026 | EUR | 6,161 | 6,366 | |||||
Reg. S, 5.50%, 09/28/2026 | GBP | 4,000 | 4,789 | |||||
JT International Financial Services BV, (Netherlands), | ||||||||
Reg. S, 1.00%, 11/26/2029 | EUR | 6,100 | 5,256 | |||||
Reg. S, 1.13%, 09/28/2025 | EUR | 6,600 | 6,560 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.79%), 2.38%, 04/07/2081 (aa) | EUR | 3,000 | 2,912 | |||||
Reg. S, 2.75%, 09/28/2033 | GBP | 9,475 | 8,626 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.18%), 2.88%, 10/07/2083 (aa) | EUR | 2,500 | 2,316 | |||||
Philip Morris International, Inc., | ||||||||
0.13%, 08/03/2026 | EUR | 1,000 | 947 | |||||
0.80%, 08/01/2031 | EUR | 1,000 | 801 | |||||
0.88%, 05/01/2026 | 100 | 89 | ||||||
1.50%, 05/01/2025 | 34 | 32 | ||||||
1.75%, 11/01/2030 | 70 | 53 | ||||||
2.88%, 05/14/2029 | EUR | 1,250 | 1,229 | |||||
3.13%, 06/03/2033 | EUR | 1,000 | 925 | |||||
4.25%, 11/10/2044 | 1,665 | 1,269 | ||||||
4.88%, 11/15/2043 | 105 | 87 | ||||||
5.38%, 02/15/2033 | 910 | 863 | ||||||
6.38%, 05/16/2038 | 655 | 668 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Agriculture continued | ||||||||
STG Global Finance BV, (Netherlands), Reg. S, 1.38%, 09/24/2025 | EUR | 344 | 333 | |||||
Sudzucker International Finance BV, (Netherlands), | ||||||||
Reg. S, 1.00%, 11/28/2025 | EUR | 2,500 | 2,473 | |||||
Reg. S, 5.13%, 10/31/2027 | EUR | 500 | 540 | |||||
Viterra Finance BV, (Netherlands), | ||||||||
Reg. S, 0.38%, 09/24/2025 | EUR | 1,000 | 976 | |||||
Reg. S, 1.00%, 09/24/2028 | EUR | 2,050 | 1,830 | |||||
|
|
|||||||
77,348 | ||||||||
|
|
|||||||
Beverages 0.6% | ||||||||
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc., | ||||||||
3.65%, 02/01/2026 | 50 | 48 | ||||||
4.70%, 02/01/2036 | 1,700 | 1,559 | ||||||
4.90%, 02/01/2046 | 1,655 | 1,458 | ||||||
Anheuser-Busch InBev SA, (Belgium), Reg. S, 2.75%, 03/17/2036 | EUR | 10 | 9 | |||||
Anheuser-Busch InBev Worldwide, Inc., | ||||||||
4.00%, 04/13/2028 | 328 | 310 | ||||||
4.35%, 06/01/2040 | 55 | 47 | ||||||
Carlsberg Breweries A/S, (Denmark), Reg. S, 3.50%, 11/26/2026 | EUR | 4,100 | 4,272 | |||||
CCEP Finance Ireland DAC, (Ireland), | ||||||||
Reg. S, 0.00%, 09/06/2025 | EUR | 3,000 | 2,933 | |||||
Reg. S, 0.50%, 09/06/2029 | EUR | 2,400 | 2,074 | |||||
Coca-Cola Co. (The), | ||||||||
0.13%, 03/09/2029 | EUR | 4,800 | 4,181 | |||||
0.50%, 03/09/2033 | EUR | 3,000 | 2,349 | |||||
1.00%, 03/09/2041 | EUR | 800 | 525 | |||||
1.25%, 03/08/2031 | EUR | 1,000 | 888 | |||||
1.63%, 03/09/2035 | EUR | 1,000 | 827 | |||||
2.50%, 06/01/2040 | 90 | 61 | ||||||
2.75%, 06/01/2060 | 355 | 213 | ||||||
3.00%, 03/05/2051 | 320 | 215 | ||||||
3.45%, 03/25/2030 | 640 | 580 | ||||||
Coca-Cola Europacific Partners plc, (United Kingdom), | ||||||||
Reg. S, 0.20%, 12/02/2028 | EUR | 3,000 | 2,618 | |||||
Reg. S, 1.13%, 04/12/2029 | EUR | 1,000 | 907 | |||||
Reg. S, 1.75%, 03/27/2026 | EUR | 2,000 | 2,008 | |||||
Reg. S, 2.38%, 05/07/2025 | EUR | 3,900 | 4,013 | |||||
Coca-Cola HBC Finance BV, (Netherlands), Reg. S, 1.63%, 05/14/2031 | EUR | 1,900 | 1,690 | |||||
Constellation Brands, Inc., | ||||||||
2.25%, 08/01/2031 | 50 | 39 | ||||||
4.35%, 05/09/2027 | 285 | 273 | ||||||
Diageo Capital BV, (Netherlands), Reg. S, 0.13%, 09/28/2028 | EUR | 4,000 | 3,544 | |||||
Diageo Capital plc, (United Kingdom), | ||||||||
2.13%, 04/29/2032 | 1,220 | 943 | ||||||
5.30%, 10/24/2027 | 630 | 629 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Beverages continued | ||||||||
Diageo Finance plc, (United Kingdom), | ||||||||
Reg. S, 1.25%, 03/28/2033 | GBP | 3,000 | 2,583 | |||||
Reg. S, 1.88%, 03/27/2027 | EUR | 1,000 | 992 | |||||
Reg. S, 2.50%, 03/27/2032 | EUR | 600 | 572 | |||||
Reg. S, 2.75%, 06/08/2038 | GBP | 625 | 547 | |||||
Heineken NV, (Netherlands), Reg. S, 2.88%, 08/04/2025 | EUR | 1,300 | 1,352 | |||||
PepsiCo., Inc., | ||||||||
0.40%, 10/09/2032 | EUR | 3,750 | 2,953 | |||||
0.50%, 05/06/2028 | EUR | 1,000 | 917 | |||||
0.75%, 10/14/2033 | EUR | 2,950 | 2,333 | |||||
1.13%, 03/18/2031 | EUR | 1,000 | 879 | |||||
2.63%, 07/29/2029 | 440 | 387 | ||||||
2.88%, 10/15/2049 | 65 | 43 | ||||||
3.45%, 10/06/2046 | 315 | 232 | ||||||
3.60%, 02/18/2028 | 55 | 52 | ||||||
4.00%, 05/02/2047 | 85 | 70 | ||||||
4.20%, 07/18/2052 | 440 | 363 | ||||||
4.65%, 02/15/2053 | 15 | 13 | ||||||
Pernod Ricard SA, (France), Reg. S, 1.13%, 04/07/2025 | EUR | 3,100 | 3,143 | |||||
|
|
|||||||
56,644 | ||||||||
|
|
|||||||
Biotechnology 0.1% | ||||||||
Amgen, Inc., | ||||||||
1.90%, 02/21/2025 | 200 | 190 | ||||||
4.05%, 08/18/2029 | 845 | 785 | ||||||
4.40%, 02/22/2062 | 55 | 41 | ||||||
4.66%, 06/15/2051 | 10 | 8 | ||||||
5.15%, 03/02/2028 | 110 | 108 | ||||||
5.25%, 03/02/2033 | 1,505 | 1,439 | ||||||
5.60%, 03/02/2043 | 615 | 572 | ||||||
5.65%, 03/02/2053 | 450 | 420 | ||||||
Biogen, Inc., | ||||||||
2.25%, 05/01/2030 | 115 | 92 | ||||||
3.15%, 05/01/2050 | 580 | 354 | ||||||
3.25%, 02/15/2051 | 135 | 83 | ||||||
Gilead Sciences, Inc., 5.55%, 10/15/2053 | 385 | 370 | ||||||
H Lundbeck A/S, (Denmark), Reg. S, 0.88%, 10/14/2027 | EUR | 7,200 | 6,614 | |||||
Regeneron Pharmaceuticals, Inc., | ||||||||
1.75%, 09/15/2030 | 840 | 647 | ||||||
2.80%, 09/15/2050 | 255 | 147 | ||||||
Royalty Pharma plc, (United Kingdom), 1.20%, 09/02/2025 | 320 | 291 | ||||||
|
|
|||||||
12,161 | ||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Commercial Services 1.6% | ||||||||
Abertis Infraestructuras SA, (Spain), Reg. S, 3.38%, 11/27/2026 | GBP10,400 | 11,695 | ||||||
ALD SA, (France), Reg. S, 1.25%, 03/02/2026 | EUR | 3,000 | 2,934 | |||||
Amadeus IT Group SA, (Spain), | ||||||||
Reg. S, 1.50%, 09/18/2026 | EUR | 1,000 | 991 | |||||
Reg. S, 2.50%, 05/20/2024 | EUR | 1,000 | 1,045 | |||||
Reg. S, 2.88%, 05/20/2027 | EUR | 500 | 509 | |||||
American University (The), Series 2019, 3.67%, 04/01/2049 | 80 | 58 | ||||||
APRR SA, (France), Reg. S, 1.88%, 01/03/2029 | EUR | 4,000 | 3,821 | |||||
ASTM SpA, (Italy), | ||||||||
Reg. S, 1.00%, 11/25/2026 | EUR | 1,000 | 948 | |||||
Reg. S, 1.50%, 01/25/2030 | EUR | 1,000 | 856 | |||||
Reg. S, 1.63%, 02/08/2028 | EUR | 500 | 473 | |||||
Automatic Data Processing, Inc., | ||||||||
1.25%, 09/01/2030 | 90 | 70 | ||||||
1.70%, 05/15/2028 | 630 | 544 | ||||||
Autoroutes du Sud de la France SA, (France), Reg. S, 1.25%, 01/18/2027 | EUR | 3,900 | 3,800 | |||||
Autostrade per lItalia SpA, (Italy), | ||||||||
Reg. S, 1.63%, 01/25/2028 | EUR | 7,000 | 6,513 | |||||
Reg. S, 1.75%, 06/26/2026 | EUR | 7,000 | 6,931 | |||||
Reg. S, 2.25%, 01/25/2032 | EUR | 7,000 | 5,928 | |||||
Babcock International Group plc, (United Kingdom), Reg. S, 1.38%, 09/13/2027 | EUR | 12,627 | 11,832 | |||||
California Institute of Technology, 4.70%, 11/01/2111 | 25 | 19 | ||||||
Case Western Reserve University, Series 22-C, 5.41%, 06/01/2122 | 50 | 44 | ||||||
Central Nippon Expressway Co. Ltd., (Japan), | ||||||||
Reg. S, 0.89%, 09/29/2025 | 1,500 | 1,360 | ||||||
Reg. S, 0.89%, 12/10/2025 | 200 | 180 | ||||||
Reg. S, 1.87%, 09/26/2024 | AUD | 1,000 | 621 | |||||
Channel Link Enterprises Finance plc, (United Kingdom), Series A8, Reg. S, (ICE LIBOR EUR 6 Month + 5.90%), 2.71%, 06/30/2050 (aa) | EUR | 100 | 96 | |||||
Cintas Corp. No. 2, | ||||||||
3.70%, 04/01/2027 | 30 | 28 | ||||||
4.00%, 05/01/2032 | 280 | 253 | ||||||
Claremont Mckenna College, 3.78%, 01/01/2122 | 50 | 30 | ||||||
Duke University, Series 2020, 2.68%, 10/01/2044 | 20 | 13 | ||||||
East Nippon Expressway Co. Ltd., (Japan), Series 66, 0.10%, 12/18/2026 | JPY | 100,000 | 664 | |||||
Edenred SE, (France), | ||||||||
Reg. S, 1.38%, 03/10/2025 | EUR | 1,000 | 1,019 | |||||
Reg. S, 1.38%, 06/18/2029 | EUR | 1,000 | 924 | |||||
Reg. S, 1.88%, 03/06/2026 | EUR | 500 | 505 | |||||
Equifax, Inc., 3.10%, 05/15/2030 | 1,800 | 1,499 | ||||||
ERAC USA Finance LLC, | ||||||||
3.85%, 11/15/2024 (e) | 160 | 156 | ||||||
4.50%, 02/15/2045 (e) | 400 | 320 | ||||||
4.60%, 05/01/2028 (e) | 1,100 | 1,056 | ||||||
4.90%, 05/01/2033 (e) | 865 | 815 | ||||||
7.00%, 10/15/2037 (e) | 800 | 866 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Commercial Services continued | ||||||||
Experian Finance plc, (United Kingdom), | ||||||||
Reg. S, 0.74%, 10/29/2025 | GBP | 600 | 666 | |||||
Reg. S, 1.38%, 06/25/2026 | EUR | 2,625 | 2,583 | |||||
Reg. S, 3.25%, 04/07/2032 | GBP | 425 | 437 | |||||
George Washington University (The), Series 2014, 4.30%, 09/15/2044 | 30 | 24 | ||||||
Global Payments, Inc., 4.88%, 03/17/2031 | EUR | 2,050 | 2,110 | |||||
Holding dInfrastructures de Transport SASU, (France), | ||||||||
Reg. S, 0.63%, 09/14/2028 | EUR | 300 | 265 | |||||
Reg. S, 2.50%, 05/04/2027 | EUR | 1,600 | 1,586 | |||||
Johns Hopkins University, Series A, 2.81%, 01/01/2060 | 600 | 350 | ||||||
ManpowerGroup, Inc., | ||||||||
Reg. S, 1.75%, 06/22/2026 | EUR | 1,000 | 992 | |||||
Reg. S, 3.50%, 06/30/2027 | EUR | 500 | 514 | |||||
Massachusetts Institute of Technology, | ||||||||
3.89%, 07/01/2116 | 663 | 457 | ||||||
4.68%, 07/01/2114 | 650 | 537 | ||||||
Series F, 2.99%, 07/01/2050 | 20 | 13 | ||||||
Moodys Corp., 1.75%, 03/09/2027 | EUR | 1,125 | 1,102 | |||||
Northwestern University, Series 2020, 2.64%, 12/01/2050 | 10 | 6 | ||||||
President and Fellows of Harvard College, 2.52%, 10/15/2050 | 10 | 6 | ||||||
Prosegur Cash SA, (Spain), Reg. S, 1.38%, 02/04/2026 | EUR | 1,500 | 1,481 | |||||
Prosegur Cia de Seguridad SA, (Spain), Reg. S, 2.50%, 04/06/2029 | EUR | 1,000 | 950 | |||||
Quanta Services, Inc., | ||||||||
2.35%, 01/15/2032 | 520 | 391 | ||||||
3.05%, 10/01/2041 | 150 | 94 | ||||||
RELX Capital, Inc., | ||||||||
1.30%, 05/12/2025 | EUR | 500 | 504 | |||||
4.75%, 05/20/2032 | 610 | 569 | ||||||
RELX Finance BV, (Netherlands), | ||||||||
Reg. S, 0.00%, 03/18/2024 | EUR | 100 | 104 | |||||
Reg. S, 0.50%, 03/10/2028 | EUR | 500 | 456 | |||||
Reg. S, 0.88%, 03/10/2032 | EUR | 16,800 | 13,854 | |||||
Reg. S, 1.38%, 05/12/2026 | EUR | 1,000 | 989 | |||||
Reg. S, 1.50%, 05/13/2027 | EUR | 4,500 | 4,385 | |||||
Reg. S, 3.75%, 06/12/2031 | EUR | 12,000 | 12,372 | |||||
Rentokil Initial Finance BV, (Netherlands), | ||||||||
Reg. S, 3.88%, 06/27/2027 | EUR | 2,325 | 2,439 | |||||
Reg. S, 4.38%, 06/27/2030 | EUR | 1,900 | 2,005 | |||||
Rentokil Initial plc, (United Kingdom), | ||||||||
Reg. S, 0.50%, 10/14/2028 | EUR | 1,000 | 885 | |||||
Reg. S, 5.00%, 06/27/2032 | GBP | 4,000 | 4,543 | |||||
Rockefeller Foundation (The), Series 2020, 2.49%, 10/01/2050 | 5 | 3 | ||||||
S&P Global, Inc., | ||||||||
2.30%, 08/15/2060 | 351 | 173 | ||||||
2.45%, 03/01/2027 | 335 | 305 | ||||||
5.25%, 09/15/2033 (e) | 325 | 317 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Commercial Services continued | ||||||||
SGS Nederland Holding BV, (Netherlands), Reg. S, 0.13%, 04/21/2027 | EUR | 2,500 | 2,308 | |||||
Thomas Jefferson University, 3.85%, 11/01/2057 | 50 | 33 | ||||||
Transurban Finance Co. Pty Ltd., (Australia), | ||||||||
Reg. S, 1.45%, 05/16/2029 | EUR | 2,000 | 1,823 | |||||
Reg. S, 1.75%, 03/29/2028 | EUR | 5,000 | 4,789 | |||||
Reg. S, 1.88%, 09/16/2024 | EUR | 1,000 | 1,033 | |||||
Reg. S, 2.00%, 08/28/2025 | EUR | 3,000 | 3,052 | |||||
Reg. S, 3.00%, 04/08/2030 | EUR | 3,100 | 3,016 | |||||
Reg. S, 4.23%, 04/26/2033 | EUR | 4,050 | 4,188 | |||||
Triton Container International Ltd. / TAL International Container Corp., (Bermuda), 3.25%, 03/15/2032 | 411 | 308 | ||||||
Trustees of Princeton University (The), | ||||||||
4.20%, 03/01/2052 | 1,295 | 1,074 | ||||||
Series 2020, 2.52%, 07/01/2050 | 20 | 12 | ||||||
University of Oxford, (United Kingdom), Reg. S, 2.54%, 12/08/2117 | GBP | 1,500 | 869 | |||||
University of Southern California, | ||||||||
2.81%, 10/01/2050 | 20 | 12 | ||||||
4.98%, 10/01/2053 | 706 | 647 | ||||||
Series 21A, 2.95%, 10/01/2051 | 10 | 7 | ||||||
Verisk Analytics, Inc., 5.50%, 06/15/2045 | 278 | 245 | ||||||
Washington University (The), | ||||||||
4.35%, 04/15/2122 | 255 | 190 | ||||||
Series 2022, 3.52%, 04/15/2054 | 900 | 641 | ||||||
Wellcome Trust Ltd. (The), (United Kingdom), | ||||||||
Reg. S, 1.50%, 07/14/2071 | GBP | 1,500 | 650 | |||||
Reg. S, 2.52%, 02/07/2118 | GBP | 200 | 116 | |||||
West Nippon Expressway Co. Ltd., (Japan), Series 29, 0.31%, 02/12/2026 | JPY | 200,000 | 1,340 | |||||
Worldline SA, (France), | ||||||||
Reg. S, 0.25%, 09/18/2024 | EUR | 500 | 509 | |||||
Reg. S, 0.88%, 06/30/2027 | EUR | 1,500 | 1,412 | |||||
|
|
|||||||
156,157 | ||||||||
|
|
|||||||
Cosmetics/Personal Care 0.5% | ||||||||
Colgate-Palmolive Co., 3.25%, 08/15/2032 | 340 | 297 | ||||||
Procter & Gamble Co. (The), | ||||||||
0.35%, 05/05/2030 | EUR | 2,800 | 2,403 | |||||
0.63%, 10/30/2024 | EUR | 1,450 | 1,480 | |||||
1.88%, 10/30/2038 | EUR | 1,125 | 920 | |||||
2.70%, 02/02/2026 | 70 | 66 | ||||||
3.60%, 03/25/2050 | 35 | 27 | ||||||
4.88%, 05/11/2027 | EUR | 425 | 467 | |||||
Reckitt Benckiser Treasury Services Nederland BV, (Netherlands), Reg. S, 0.75%, 05/19/2030 | EUR | 200 | 173 | |||||
Unilever Capital Corp., | ||||||||
Reg. S, 3.40%, 06/06/2033 | EUR | 13,450 | 13,541 | |||||
5.00%, 12/08/2033 | 960 | 930 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Cosmetics/Personal Care continued | ||||||||
Unilever Finance Netherlands BV, (Netherlands), | ||||||||
Reg. S, 0.75%, 02/28/2026 | EUR | 2,475 | 2,441 | |||||
Reg. S, 1.13%, 02/12/2027 | EUR | 825 | 804 | |||||
Reg. S, 1.13%, 04/29/2028 | EUR | 1,000 | 946 | |||||
Reg. S, 1.25%, 02/28/2031 | EUR | 1,500 | 1,324 | |||||
Reg. S, 1.75%, 11/16/2028 | EUR | 6,000 | 5,770 | |||||
Reg. S, 1.75%, 03/25/2030 | EUR | 6,000 | 5,616 | |||||
Reg. S, 3.50%, 02/23/2035 | EUR | 7,150 | 7,227 | |||||
|
|
|||||||
44,432 | ||||||||
|
|
|||||||
Food 0.4% | ||||||||
Campbell Soup Co., 3.95%, 03/15/2025 | 117 | 114 | ||||||
Danone SA, (France), Reg. S, 0.52%, 11/09/2030 | EUR | 5,800 | 4,866 | |||||
General Mills, Inc., | ||||||||
0.13%, 11/15/2025 | EUR | 1,000 | 975 | |||||
0.45%, 01/15/2026 | EUR | 3,000 | 2,925 | |||||
2.88%, 04/15/2030 | 1,010 | 854 | ||||||
3.00%, 02/01/2051 | 30 | 18 | ||||||
4.95%, 03/29/2033 | 230 | 216 | ||||||
Hershey Co. (The), | ||||||||
0.90%, 06/01/2025 | 255 | 236 | ||||||
1.70%, 06/01/2030 | 322 | 257 | ||||||
2.30%, 08/15/2026 | 70 | 65 | ||||||
2.65%, 06/01/2050 | 10 | 6 | ||||||
4.50%, 05/04/2033 | 640 | 604 | ||||||
Hormel Foods Corp., 1.70%, 06/03/2028 | 281 | 240 | ||||||
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., (Multinational), | ||||||||
3.00%, 05/15/2032 | 575 | 435 | ||||||
5.75%, 04/01/2033 | 1,020 | 933 | ||||||
Kellogg Co., | ||||||||
0.50%, 05/20/2029 | EUR | 1,500 | 1,294 | |||||
1.00%, 05/17/2024 | EUR | 500 | 518 | |||||
1.25%, 03/10/2025 | EUR | 500 | 508 | |||||
2.10%, 06/01/2030 | 40 | 32 | ||||||
Kerry Group Financial Services Unltd. Co., (Ireland), Reg. S, 2.38%, 09/10/2025 | EUR | 2,700 | 2,786 | |||||
Koninklijke Ahold Delhaize NV, (Netherlands), Reg. S, 3.50%, 04/04/2028 | EUR | 2,150 | 2,236 | |||||
Kraft Heinz Foods Co., | ||||||||
Reg. S, 1.50%, 05/24/2024 | EUR | 1,000 | 1,039 | |||||
Reg. S, 2.25%, 05/25/2028 | EUR | 1,000 | 979 | |||||
Reg. S, 4.13%, 07/01/2027 | GBP | 5,000 | 5,801 | |||||
Kroger Co. (The), 3.95%, 01/15/2050 | 5 | 4 | ||||||
Mars, Inc., 2.38%, 07/16/2040 (e) | 1,200 | 758 | ||||||
Mondelez International Holdings Netherlands BV, (Netherlands), | ||||||||
Reg. S, 0.25%, 09/09/2029 | EUR | 1,000 | 853 | |||||
Reg. S, 0.38%, 09/22/2029 | EUR | 200 | 171 | |||||
Reg. S, 0.63%, 09/09/2032 | EUR | 1,000 | 784 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Food continued | ||||||||
Mondelez International, Inc., | ||||||||
0.25%, 03/17/2028 | EUR | 1,000 | 900 | |||||
0.75%, 03/17/2033 | EUR | 500 | 391 | |||||
1.50%, 02/04/2031 | 1,000 | 751 | ||||||
Nestle Finance International Ltd., (Luxembourg), | ||||||||
Reg. S, 0.00%, 06/14/2026 | EUR | 1,500 | 1,441 | |||||
Reg. S, 1.25%, 03/29/2031 | EUR | 1,200 | 1,073 | |||||
Tesco Corporate Treasury Services plc, (United Kingdom), | ||||||||
Reg. S, 0.88%, 05/29/2026 | EUR | 1,500 | 1,454 | |||||
Reg. S, 1.88%, 11/02/2028 | GBP | 1,300 | 1,311 | |||||
Reg. S, 2.75%, 04/27/2030 | GBP | 825 | 827 | |||||
Woolworths Group Ltd., (Australia), Reg. S, 0.38%, 11/15/2028 | EUR | 1,500 | 1,299 | |||||
|
|
|||||||
39,954 | ||||||||
|
|
|||||||
Healthcare - Products 0.3% | ||||||||
Abbott Laboratories, 4.90%, 11/30/2046 | 255 | 233 | ||||||
Alcon Finance BV, (Netherlands), Reg. S, 2.38%, 05/31/2028 | EUR | 200 | 196 | |||||
American Medical Systems Europe BV, (Netherlands), 0.75%, 03/08/2025 | EUR | 1,300 | 1,308 | |||||
Becton Dickinson Euro Finance Sarl, (Luxembourg), | ||||||||
1.21%, 06/04/2026 | EUR | 825 | 812 | |||||
1.34%, 08/13/2041 | EUR | 2,000 | 1,248 | |||||
Boston Scientific Corp., | ||||||||
0.63%, 12/01/2027 | EUR | 800 | 740 | |||||
3.45%, 03/01/2024 | 44 | 43 | ||||||
Danaher Corp., 2.80%, 12/10/2051 | 105 | 64 | ||||||
DH Europe Finance II Sarl, (Luxembourg), | ||||||||
0.20%, 03/18/2026 | EUR | 3,775 | 3,649 | |||||
3.40%, 11/15/2049 | 30 | 21 | ||||||
Edwards Lifesciences Corp., 4.30%, 06/15/2028 | 705 | 665 | ||||||
Medtronic Global Holdings SCA, (Luxembourg), | ||||||||
1.13%, 03/07/2027 | EUR | 4,000 | 3,848 | |||||
1.63%, 10/15/2050 | EUR | 900 | 531 | |||||
1.75%, 07/02/2049 | EUR | 900 | 558 | |||||
3.00%, 10/15/2028 | EUR | 3,400 | 3,452 | |||||
3.38%, 10/15/2034 | EUR | 4,200 | 4,113 | |||||
Molnlycke Holding AB, (Sweden), Reg. S, 1.88%, 02/28/2025 | EUR | 1,900 | 1,936 | |||||
Smith & Nephew plc, (United Kingdom), 4.57%, 10/11/2029 | EUR | 1,500 | 1,597 | |||||
Stryker Corp., 1.00%, 12/03/2031 | EUR | 1,300 | 1,082 | |||||
Thermo Fisher Scientific Finance I BV, (Netherlands), 1.13%, 10/18/2033 | EUR | 1,000 | 801 | |||||
Thermo Fisher Scientific, Inc., | ||||||||
1.22%, 10/18/2024 | 80 | 76 | ||||||
1.88%, 10/01/2049 | EUR | 900 | 559 | |||||
Werfen SA, (Spain), Reg. S, 0.50%, 10/28/2026 | EUR | 1,200 | 1,123 | |||||
Zimmer Biomet Holdings, Inc., | ||||||||
1.16%, 11/15/2027 | EUR | 1,000 | 939 | |||||
2.43%, 12/13/2026 | EUR | 500 | 501 | |||||
|
|
|||||||
30,095 | ||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Healthcare - Services 0.3% | ||||||||
Advocate Health & Hospitals Corp., 3.39%, 10/15/2049 | 35 | 24 | ||||||
Aetna, Inc., 3.50%, 11/15/2024 | 58 | 56 | ||||||
AHS Hospital Corp., Series 2021, 2.78%, 07/01/2051 | 755 | 446 | ||||||
Allina Health System, Series 2019, 3.89%, 04/15/2049 | 40 | 30 | ||||||
Ascension Health, 3.95%, 11/15/2046 | 140 | 108 | ||||||
Banner Health, 2.91%, 01/01/2042 | 100 | 68 | ||||||
Beth Israel Lahey Health, Inc., Series L, 3.08%, 07/01/2051 | 7 | 4 | ||||||
City of Hope, Series 2013, 5.62%, 11/15/2043 | 35 | 32 | ||||||
Cleveland Clinic Foundation (The), 4.86%, 01/01/2114 | 1,000 | 813 | ||||||
CommonSpirit Health, 3.91%, 10/01/2050 | 368 | 261 | ||||||
Duke University Health System, Inc., Series 2017, 3.92%, 06/01/2047 | 50 | 38 | ||||||
Elevance Health, Inc., | ||||||||
3.35%, 12/01/2024 | 100 | 97 | ||||||
4.90%, 02/08/2026 | 130 | 127 | ||||||
Eurofins Scientific SE, (Luxembourg), Reg. S, 2.13%, 07/25/2024 | EUR | 796 | 826 | |||||
Hackensack Meridian Health, Inc., | ||||||||
Series 2020, 2.68%, 09/01/2041 | 1,385 | 908 | ||||||
Series 2020, 2.88%, 09/01/2050 | 35 | 21 | ||||||
HCA, Inc., | ||||||||
3.13%, 03/15/2027 | 2,560 | 2,326 | ||||||
3.50%, 09/01/2030 | 560 | 475 | ||||||
3.50%, 07/15/2051 | 185 | 115 | ||||||
4.63%, 03/15/2052 | 755 | 566 | ||||||
5.13%, 06/15/2039 | 355 | 307 | ||||||
5.20%, 06/01/2028 | 240 | 232 | ||||||
5.25%, 06/15/2049 | 285 | 234 | ||||||
5.38%, 02/01/2025 | 375 | 371 | ||||||
Health Care Service Corp. A Mutual Legal Reserve Co., 2.20%, 06/01/2030 (e) | 1,400 | 1,123 | ||||||
Humana, Inc., | ||||||||
3.70%, 03/23/2029 | 80 | 73 | ||||||
5.75%, 03/01/2028 | 500 | 502 | ||||||
IQVIA, Inc., 5.70%, 05/15/2028 (e) | 580 | 563 | ||||||
Kaiser Foundation Hospitals, | ||||||||
4.15%, 05/01/2047 | 1,200 | 951 | ||||||
Series 2021, 3.00%, 06/01/2051 | 250 | 157 | ||||||
Lonza Finance International NV, (Belgium), Reg. S, 1.63%, 04/21/2027 | EUR | 2,800 | 2,723 | |||||
Mayo Clinic, | ||||||||
3.77%, 11/15/2043 | 30 | 23 | ||||||
Series 2013, 4.00%, 11/15/2047 | 25 | 20 | ||||||
Series 2021, 3.20%, 11/15/2061 | 440 | 272 | ||||||
Memorial Health Services, 3.45%, 11/01/2049 | 10 | 7 | ||||||
Memorial Sloan-Kettering Cancer Center, 4.13%, 07/01/2052 | 50 | 39 | ||||||
Methodist Hospital (The), Series 20A, 2.71%, 12/01/2050 | 1,500 | 874 | ||||||
MultiCare Health System, 2.80%, 08/15/2050 | 1,000 | 559 | ||||||
MyMichigan Health, Series 2020, 3.41%, 06/01/2050 | 1,498 | 960 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Healthcare - Services continued | ||||||||
New York and Presbyterian Hospital (The), | ||||||||
2.26%, 08/01/2040 | 1,090 | 667 | ||||||
4.02%, 08/01/2045 | 70 | 55 | ||||||
Northwell Healthcare, Inc., 4.26%, 11/01/2047 | 25 | 19 | ||||||
OhioHealth Corp., | ||||||||
2.30%, 11/15/2031 | 830 | 657 | ||||||
2.83%, 11/15/2041 | 370 | 247 | ||||||
Series 2020, 3.04%, 11/15/2050 | 535 | 347 | ||||||
PeaceHealth Obligated Group, | ||||||||
Series 2020, 1.38%, 11/15/2025 | 700 | 636 | ||||||
Series 2020, 3.22%, 11/15/2050 | 749 | 448 | ||||||
Piedmont Healthcare, Inc., | ||||||||
2.86%, 01/01/2052 | 3 | 2 | ||||||
Series 2032, 2.04%, 01/01/2032 | 470 | 359 | ||||||
Series 2042, 2.72%, 01/01/2042 | 453 | 289 | ||||||
Presbyterian Healthcare Services, 4.88%, 08/01/2052 | 100 | 89 | ||||||
Providence St Joseph Health Obligated Group, Series 21A, 2.70%, 10/01/2051 | 150 | 82 | ||||||
Sentara Healthcare, Series 2021, 2.93%, 11/01/2051 | 2,365 | 1,455 | ||||||
Texas Health Resources, 2.33%, 11/15/2050 | 750 | 399 | ||||||
Trinity Health Corp., Series 2021, 2.63%, 12/01/2040 | 233 | 155 | ||||||
UMass Memorial Health Care Obligated Group, 5.36%, 07/01/2052 | 5 | 4 | ||||||
UnitedHealth Group, Inc., | ||||||||
2.00%, 05/15/2030 | 160 | 130 | ||||||
2.95%, 10/15/2027 | 130 | 119 | ||||||
3.13%, 05/15/2060 | 160 | 97 | ||||||
3.45%, 01/15/2027 | 70 | 66 | ||||||
3.70%, 05/15/2027 | 75 | 71 | ||||||
3.70%, 08/15/2049 | 1,100 | 791 | ||||||
3.75%, 07/15/2025 | 20 | 19 | ||||||
3.85%, 06/15/2028 | 70 | 66 | ||||||
3.88%, 08/15/2059 | 50 | 36 | ||||||
4.25%, 01/15/2029 | 370 | 352 | ||||||
4.25%, 03/15/2043 | 120 | 98 | ||||||
4.50%, 04/15/2033 | 150 | 139 | ||||||
5.00%, 10/15/2024 | 30 | 30 | ||||||
5.05%, 04/15/2053 | 400 | 358 | ||||||
5.20%, 04/15/2063 | 1,350 | 1,204 | ||||||
5.25%, 02/15/2028 | 320 | 320 | ||||||
5.30%, 02/15/2030 | 209 | 208 | ||||||
5.35%, 02/15/2033 | 330 | 327 | ||||||
5.88%, 02/15/2053 | 130 | 130 | ||||||
6.05%, 02/15/2063 | 520 | 525 | ||||||
Universal Health Services, Inc., 2.65%, 10/15/2030 | 1,130 | 881 | ||||||
West Virginia United Health System Obligated Group, Series 2020, 3.13%, 06/01/2050 | 50 | 29 | ||||||
Yale-New Haven Health Services Corp., Series 2020, 2.50%, 07/01/2050 | 50 | 27 | ||||||
|
|
|||||||
29,264 | ||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Household Products/Wares 0.0% (g) | ||||||||
Clorox Co. (The), 1.80%, 05/15/2030 | 10 | 8 | ||||||
Henkel AG & Co. KGaA, (Germany), Reg. S, 0.50%, 11/17/2032 | EUR | 1,000 | 796 | |||||
Kimberly-Clark Corp., | ||||||||
0.63%, 09/07/2024 | EUR | 1,500 | 1,536 | |||||
2.88%, 02/07/2050 | 165 | 105 | ||||||
Reckitt Benckiser Treasury Services plc, (United Kingdom), | ||||||||
Reg. S, 1.75%, 05/19/2032 | GBP | 2,175 | 2,015 | |||||
|
|
|||||||
4,460 | ||||||||
|
|
|||||||
Pharmaceuticals 0.7% | ||||||||
AbbVie, Inc., | ||||||||
3.20%, 11/21/2029 | 5,460 | 4,820 | ||||||
3.85%, 06/15/2024 | 150 | 148 | ||||||
4.05%, 11/21/2039 | 230 | 188 | ||||||
4.25%, 11/21/2049 | 480 | 379 | ||||||
4.40%, 11/06/2042 | 25 | 21 | ||||||
4.50%, 05/14/2035 | 25 | 23 | ||||||
AstraZeneca Finance LLC, | ||||||||
0.70%, 05/28/2024 | 105 | 102 | ||||||
1.75%, 05/28/2028 | 480 | 411 | ||||||
AstraZeneca plc, (United Kingdom), | ||||||||
Reg. S, 0.38%, 06/03/2029 | EUR | 1,500 | 1,313 | |||||
Reg. S, 1.25%, 05/12/2028 | EUR | 1,000 | 946 | |||||
1.38%, 08/06/2030 | 300 | 233 | ||||||
4.38%, 11/16/2045 | 90 | 75 | ||||||
Bayer AG, (Germany), | ||||||||
Reg. S, 0.63%, 07/12/2031 | EUR | 1,900 | 1,513 | |||||
Reg. S, 1.13%, 01/06/2030 | EUR | 1,000 | 867 | |||||
Bayer Capital Corp. BV, (Netherlands), Reg. S, 2.13%, 12/15/2029 | EUR | 600 | 558 | |||||
Becton Dickinson & Co., | ||||||||
3.79%, 05/20/2050 | 100 | 72 | ||||||
4.30%, 08/22/2032 | 35 | 32 | ||||||
Bristol-Myers Squibb Co., | ||||||||
1.45%, 11/13/2030 | 200 | 154 | ||||||
2.35%, 11/13/2040 | 75 | 47 | ||||||
2.55%, 11/13/2050 | 140 | 80 | ||||||
3.40%, 07/26/2029 | 710 | 643 | ||||||
3.45%, 11/15/2027 | 70 | 66 | ||||||
3.70%, 03/15/2052 | 360 | 258 | ||||||
3.90%, 03/15/2062 | 190 | 134 | ||||||
4.13%, 06/15/2039 | 576 | 480 | ||||||
4.55%, 02/20/2048 | 8 | 7 | ||||||
Cardinal Health, Inc., | ||||||||
3.08%, 06/15/2024 | 10 | 10 | ||||||
4.37%, 06/15/2047 | 175 | 132 | ||||||
4.50%, 11/15/2044 | 45 | 34 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Pharmaceuticals continued |
||||||||
Cencora, Inc., | ||||||||
2.70%, 03/15/2031 | 150 | 122 | ||||||
3.25%, 03/01/2025 | 640 | 618 | ||||||
3.45%, 12/15/2027 | 5 | 5 | ||||||
4.25%, 03/01/2045 | 195 | 149 | ||||||
4.30%, 12/15/2047 | 25 | 19 | ||||||
Cigna Group (The), | ||||||||
2.40%, 03/15/2030 | 75 | 62 | ||||||
4.90%, 12/15/2048 | 800 | 675 | ||||||
CVS Health Corp., 5.05%, 03/25/2048 | 1,200 | 999 | ||||||
Eli Lilly & Co., | ||||||||
0.50%, 09/14/2033 | EUR | 1,500 | 1,170 | |||||
0.63%, 11/01/2031 | EUR | 4,800 | 3,992 | |||||
1.13%, 09/14/2051 | EUR | 3,500 | 1,906 | |||||
1.38%, 09/14/2061 | EUR | 2,875 | 1,422 | |||||
1.63%, 06/02/2026 | EUR | 1,500 | 1,501 | |||||
1.70%, 11/01/2049 | EUR | 2,500 | 1,656 | |||||
2.13%, 06/03/2030 | EUR | 3,500 | 3,354 | |||||
3.38%, 03/15/2029 | 130 | 120 | ||||||
4.88%, 02/27/2053 | 400 | 367 | ||||||
4.95%, 02/27/2063 | 210 | 190 | ||||||
GlaxoSmithKline Capital plc, (United Kingdom), | ||||||||
5.25%, 12/19/2033 | GBP | 640 | 775 | |||||
Reg. S, 5.25%, 04/10/2042 | GBP | 150 | 173 | |||||
Johnson & Johnson, | ||||||||
0.95%, 09/01/2027 | 105 | 90 | ||||||
1.15%, 11/20/2028 | EUR | 1,000 | 941 | |||||
2.10%, 09/01/2040 | 10 | 7 | ||||||
2.45%, 09/01/2060 | 290 | 160 | ||||||
3.40%, 01/15/2038 | 50 | 40 | ||||||
3.55%, 03/01/2036 | 15 | 13 | ||||||
McKesson Corp., | ||||||||
0.90%, 12/03/2025 | 70 | 63 | ||||||
1.50%, 11/17/2025 | EUR | 1,000 | 1,004 | |||||
1.63%, 10/30/2026 | EUR | 2,000 | 1,976 | |||||
3.13%, 02/17/2029 | GBP | 1,925 | 2,071 | |||||
Merck & Co., Inc., | ||||||||
0.50%, 11/02/2024 | EUR | 1,000 | 1,018 | |||||
1.38%, 11/02/2036 | EUR | 1,000 | 783 | |||||
1.88%, 10/15/2026 | EUR | 1,900 | 1,896 | |||||
1.90%, 12/10/2028 | 977 | 834 | ||||||
2.35%, 06/24/2040 | 50 | 33 | ||||||
2.50%, 10/15/2034 | EUR | 500 | 465 | |||||
2.75%, 12/10/2051 | 30 | 18 | ||||||
2.90%, 12/10/2061 | 355 | 204 | ||||||
3.40%, 03/07/2029 | 280 | 256 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Pharmaceuticals continued |
||||||||
3.70%, 02/10/2045 | 60 | 46 | ||||||
3.90%, 03/07/2039 | 150 | 125 | ||||||
4.00%, 03/07/2049 | 40 | 32 | ||||||
4.30%, 05/17/2030 | 200 | 189 | ||||||
4.90%, 05/17/2044 | 485 | 442 | ||||||
5.00%, 05/17/2053 | 120 | 109 | ||||||
5.15%, 05/17/2063 | 275 | 250 | ||||||
Merck Financial Services GmbH, (Germany), Reg. S, 0.13%, 07/16/2025 | EUR | 1,000 | 987 | |||||
Merck KGaA, (Germany), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.94%), 2.88%, 06/25/2079 (aa) | EUR | 200 | 186 | |||||
Mylan, Inc., 5.20%, 04/15/2048 | 30 | 22 | ||||||
Novartis Capital Corp., | ||||||||
2.75%, 08/14/2050 | 176 | 112 | ||||||
3.10%, 05/17/2027 | 37 | 35 | ||||||
Novartis Finance SA, (Luxembourg), | ||||||||
Reg. S, 0.00%, 09/23/2028 | EUR | 7,000 | 6,224 | |||||
Reg. S, 0.63%, 09/20/2028 | EUR | 1,000 | 926 | |||||
Reg. S, 1.13%, 09/30/2027 | EUR | 1,000 | 965 | |||||
Reg. S, 1.38%, 08/14/2030 | EUR | 1,000 | 920 | |||||
Reg. S, 1.70%, 08/14/2038 | EUR | 1,000 | 813 | |||||
Novo Nordisk Finance Netherlands BV, (Netherlands), | ||||||||
Reg. S, 0.75%, 03/31/2025 | EUR | 1,000 | 1,009 | |||||
Reg. S, 1.13%, 09/30/2027 | EUR | 1,000 | 963 | |||||
Reg. S, 1.38%, 03/31/2030 | EUR | 1,000 | 926 | |||||
Pfizer Investment Enterprises Pte Ltd., (Singapore), | ||||||||
4.45%, 05/19/2026 | 50 | 49 | ||||||
4.45%, 05/19/2028 | 70 | 68 | ||||||
4.65%, 05/19/2030 | 70 | 67 | ||||||
4.75%, 05/19/2033 | 70 | 66 | ||||||
5.30%, 05/19/2053 | 120 | 112 | ||||||
5.34%, 05/19/2063 | 50 | 46 | ||||||
Pfizer, Inc., | ||||||||
2.75%, 06/03/2026 | 145 | 136 | ||||||
3.00%, 12/15/2026 | 533 | 499 | ||||||
5.60%, 09/15/2040 | 100 | 99 | ||||||
Roche Finance Europe BV, (Netherlands), Reg. S, 0.88%, 02/25/2025 | EUR | 1,600 | 1,634 | |||||
Sanofi, (France), Series 20FX, Reg. S, 1.88%, 03/21/2038 | EUR | 800 | 677 | |||||
Upjohn Finance BV, (Netherlands), | ||||||||
Reg. S, 1.02%, 06/23/2024 | EUR | 1,000 | 1,031 | |||||
Reg. S, 1.36%, 06/23/2027 | EUR | 1,000 | 935 | |||||
Utah Acquisition Sub, Inc., Reg. S, 2.25%, 11/22/2024 | EUR | 1,000 | 1,031 | |||||
Viatris, Inc., | ||||||||
3.85%, 06/22/2040 | 2,200 | 1,431 | ||||||
4.00%, 06/22/2050 | 140 | 85 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Pharmaceuticals continued |
||||||||
Zoetis, Inc., | ||||||||
3.90%, 08/20/2028 | 40 | 37 | ||||||
4.70%, 02/01/2043 | 245 | 211 | ||||||
5.40%, 11/14/2025 | 330 | 329 | ||||||
|
|
|||||||
68,717 | ||||||||
|
|
|||||||
Total Consumer Non-cyclical |
519,232 | |||||||
|
|
|||||||
Energy 1.6% |
||||||||
Coal 0.0% (g) |
||||||||
Teck Resources Ltd., (Canada), 5.40%, 02/01/2043 |
1,100 | 919 | ||||||
|
|
|||||||
Energy - Alternate Sources 0.1% |
||||||||
ERG SpA, (Italy), | ||||||||
Reg. S, 0.50%, 09/11/2027 | EUR | 5,000 | 4,560 | |||||
Reg. S, 0.88%, 09/15/2031 | EUR | 1,300 | 1,031 | |||||
|
|
|||||||
5,591 | ||||||||
|
|
|||||||
Oil & Gas 1.0% |
||||||||
Aker BP ASA, (Norway), | ||||||||
2.00%, 07/15/2026 (e) | 915 | 817 | ||||||
3.10%, 07/15/2031 (e) | 1,585 | 1,268 | ||||||
5.60%, 06/13/2028 (e) | 795 | 777 | ||||||
6.00%, 06/13/2033 (e) | 715 | 691 | ||||||
Apache Corp., 5.10%, 09/01/2040 | 220 | 175 | ||||||
BP Capital Markets BV, (Netherlands), Reg. S, 4.32%, 05/12/2035 | EUR | 6,150 | 6,301 | |||||
BP Capital Markets plc, (United Kingdom), | ||||||||
Reg. S, 1.64%, 06/26/2029 | EUR | 1,000 | 934 | |||||
Reg. S, 2.27%, 07/03/2026 | GBP | 2,000 | 2,263 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.52%), 3.25%, 03/22/2026 (x) (aa) | EUR | 1,500 | 1,481 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.78%), 3.63%, 03/22/2029 (x) (aa) | EUR | 1,300 | 1,195 | |||||
Reg. S, (UK Gilts 5 Year + 3.89%), 4.25%, 03/22/2027 (x) (aa) | GBP | 7,900 | 8,552 | |||||
Canadian Natural Resources Ltd., (Canada), 6.50%, 02/15/2037 | 145 | 142 | ||||||
Cepsa Finance SA, (Spain), Reg. S, 2.25%, 02/13/2026 | EUR | 100 | 100 | |||||
Chevron Corp., 1.55%, 05/11/2025 | 75 | 71 | ||||||
Chevron USA, Inc., 1.02%, 08/12/2027 | 100 | 86 | ||||||
CNOOC Petroleum North America ULC, (Canada), 6.40%, 05/15/2037 | 60 | 62 | ||||||
ConocoPhillips Co., | ||||||||
5.55%, 03/15/2054 | 50 | 47 | ||||||
5.70%, 09/15/2063 | 635 | 605 | ||||||
Continental Resources, Inc., 4.90%, 06/01/2044 | 35 | 26 | ||||||
Devon Energy Corp., 5.88%, 06/15/2028 | 1,750 | 1,742 | ||||||
Diamondback Energy, Inc., | ||||||||
3.13%, 03/24/2031 | 2,400 | 2,003 | ||||||
6.25%, 03/15/2033 | 350 | 350 | ||||||
Eni SpA, (Italy), | ||||||||
Reg. S, 0.63%, 01/23/2030 | EUR | 500 | 426 | |||||
Reg. S, 1.00%, 10/11/2034 | EUR | 1,900 | 1,415 | |||||
Reg. S, 1.25%, 05/18/2026 | EUR | 9,200 | 9,049 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Oil & Gas continued |
||||||||
Reg. S, 1.50%, 02/02/2026 | EUR | 1,000 | 998 | |||||
Reg. S, 1.50%, 01/17/2027 | EUR | 2,700 | 2,637 | |||||
Reg. S, 1.63%, 05/17/2028 | EUR | 1,000 | 954 | |||||
Reg. S, 2.00%, 05/18/2031 | EUR | 500 | 452 | |||||
EQT Corp., | ||||||||
3.13%, 05/15/2026 (e) | 65 | 60 | ||||||
5.70%, 04/01/2028 | 400 | 392 | ||||||
6.13%, 02/01/2025 | 17 | 17 | ||||||
Equinor ASA, (Norway), | ||||||||
Reg. S, 0.75%, 11/09/2026 | EUR | 1,000 | 963 | |||||
Reg. S, 1.38%, 05/22/2032 | EUR | 825 | 709 | |||||
1.75%, 01/22/2026 | 200 | 185 | ||||||
2.38%, 05/22/2030 | 260 | 218 | ||||||
3.25%, 11/18/2049 | 30 | 20 | ||||||
3.63%, 04/06/2040 | 1,800 | 1,388 | ||||||
3.70%, 04/06/2050 | 165 | 120 | ||||||
Reg. S, 6.88%, 03/11/2031 | GBP | 150 | 199 | |||||
Exxon Mobil Corp., | ||||||||
0.14%, 06/26/2024 | EUR | 1,500 | 1,541 | |||||
0.84%, 06/26/2032 | EUR | 1,050 | 839 | |||||
1.41%, 06/26/2039 | EUR | 2,200 | 1,482 | |||||
3.45%, 04/15/2051 | 545 | 381 | ||||||
Helmerich & Payne, Inc., 2.90%, 09/29/2031 | 700 | 554 | ||||||
Hess Corp., | ||||||||
3.50%, 07/15/2024 | 10 | 10 | ||||||
5.60%, 02/15/2041 | 120 | 108 | ||||||
5.80%, 04/01/2047 | 16 | 15 | ||||||
Marathon Petroleum Corp., | ||||||||
3.80%, 04/01/2028 | 250 | 230 | ||||||
4.50%, 04/01/2048 | 115 | 85 | ||||||
5.00%, 09/15/2054 | 125 | 97 | ||||||
MOL Hungarian Oil & Gas plc, (Hungary), Reg. S, 1.50%, 10/08/2027 | EUR | 7,200 | 6,638 | |||||
OMV AG, (Austria), Reg. S, (EUR Swap Rate 5 Year + 2.83%), 2.50%, 06/01/2026 (x) (aa) | EUR | 4,000 | 3,806 | |||||
ORLEN SA, (Poland), Reg. S, 1.13%, 05/27/2028 | EUR | 1,300 | 1,171 | |||||
Ovintiv, Inc., | ||||||||
5.65%, 05/15/2025 | 735 | 731 | ||||||
5.65%, 05/15/2028 | 715 | 699 | ||||||
Patterson-UTI Energy, Inc., 7.15%, 10/01/2033 | 360 | 361 | ||||||
Petroleos Mexicanos, (Mexico), (CME Term SOFR 3 Month + 0.69%), 6.06%, 02/15/2024 (aa) | 150 | 150 | ||||||
Pioneer Natural Resources Co., | ||||||||
1.90%, 08/15/2030 | 1,050 | 824 | ||||||
5.10%, 03/29/2026 | 820 | 810 | ||||||
Santos Finance Ltd., (Australia), 6.88%, 09/19/2033 (e) | 700 | 685 | ||||||
Shell International Finance BV, (Netherlands), | ||||||||
Reg. S, 1.63%, 01/20/2027 | EUR | 3,900 | 3,834 | |||||
Reg. S, 1.88%, 09/15/2025 | EUR | 1,000 | 1,018 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Oil & Gas continued |
||||||||
Reg. S, 1.88%, 04/07/2032 | EUR | 1,000 | 894 | |||||
3.00%, 11/26/2051 | 380 | 239 | ||||||
6.38%, 12/15/2038 | 115 | 123 | ||||||
TotalEnergies Capital International SA, (France), | ||||||||
Reg. S, 0.95%, 05/18/2031 | EUR | 1,000 | 856 | |||||
Reg. S, 1.38%, 10/04/2029 | EUR | 2,000 | 1,841 | |||||
Reg. S, 1.49%, 09/04/2030 | EUR | 1,000 | 905 | |||||
Reg. S, 1.54%, 05/31/2039 | EUR | 1,000 | 742 | |||||
Reg. S, 1.62%, 05/18/2040 | EUR | 1,000 | 726 | |||||
TotalEnergies SE, (France), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 1.90%), 2.00%, 01/17/2027 (x) (aa) | EUR | 2,000 | 1,845 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.00%, 06/04/2030 (x) (aa) | EUR | 1,900 | 1,547 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.94%), 3.25%, 07/17/2036 (x) (aa) | EUR | 500 | 389 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.35%), 3.37%, 10/06/2026 (x) (aa) | EUR | 3,500 | 3,474 | |||||
Series NC7, Reg. S, (EUR Swap Rate 5 Year + 1.99%), 1.63%, 10/25/2027 (x) (aa) | EUR | 1,000 | 882 | |||||
Series NC12, Reg. S, (EUR Swap Rate 5 Year + 2.51%), 2.13%, 07/25/2032 (x) (aa) | EUR | 3,550 | 2,698 | |||||
Var Energi ASA, (Norway), | ||||||||
5.00%, 05/18/2027 (e) | 1,600 | 1,512 | ||||||
Reg. S, 5.50%, 05/04/2029 | EUR | 4,175 | 4,417 | |||||
|
|
|||||||
99,049 | ||||||||
|
|
|||||||
Oil & Gas Services 0.0% (g) |
||||||||
Schlumberger Finance BV, (Netherlands), | ||||||||
Reg. S, 0.00%, 10/15/2024 | EUR | 1,000 | 1,013 | |||||
Reg. S, 0.25%, 10/15/2027 | EUR | 1,500 | 1,375 | |||||
Reg. S, 0.50%, 10/15/2031 | EUR | 500 | 403 | |||||
Schlumberger Finance Canada Ltd., (Canada), 1.40%, 09/17/2025 | 30 | 28 | ||||||
Schlumberger Finance France SAS, (France), Reg. S, 1.00%, 02/18/2026 | EUR | 500 | 493 | |||||
|
|
|||||||
3,312 | ||||||||
|
|
|||||||
Pipelines 0.5% |
||||||||
Cheniere Corpus Christi Holdings LLC, 3.70%, 11/15/2029 | 88 | 78 | ||||||
Cheniere Energy, Inc., 4.63%, 10/15/2028 | 530 | 489 | ||||||
Colonial Enterprises, Inc., 3.25%, 05/15/2030 (e) | 1,330 | 1,144 | ||||||
Columbia Pipeline Group, Inc., 4.50%, 06/01/2025 | 20 | 20 | ||||||
Columbia Pipelines Operating Co. LLC, | ||||||||
5.93%, 08/15/2030 (e) | 185 | 183 | ||||||
6.50%, 08/15/2043 (e) | 490 | 477 | ||||||
DCP Midstream Operating LP, | ||||||||
3.25%, 02/15/2032 | 15 | 12 | ||||||
5.13%, 05/15/2029 | 1,500 | 1,429 | ||||||
5.38%, 07/15/2025 | 70 | 69 | ||||||
Enbridge, Inc., (Canada), 5.97%, 03/08/2026 | 165 | 164 | ||||||
Energy Transfer LP, | ||||||||
2.90%, 05/15/2025 | 220 | 209 | ||||||
4.20%, 04/15/2027 | 5,830 | 5,493 | ||||||
5.35%, 05/15/2045 | 10 | 8 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Pipelines continued |
||||||||
5.40%, 10/01/2047 | 190 | 157 | ||||||
5.55%, 02/15/2028 | 1,210 | 1,188 | ||||||
5.75%, 02/15/2033 | 1,705 | 1,639 | ||||||
6.25%, 04/15/2049 | 540 | 496 | ||||||
6.50%, 02/01/2042 | 10 | 10 | ||||||
Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa) | 1,490 | 1,369 | ||||||
Enterprise Products Operating LLC, | ||||||||
3.75%, 02/15/2025 | 50 | 48 | ||||||
3.90%, 02/15/2024 | 50 | 50 | ||||||
4.15%, 10/16/2028 | 150 | 141 | ||||||
4.20%, 01/31/2050 | 40 | 31 | ||||||
5.10%, 02/15/2045 | 1,700 | 1,503 | ||||||
(CME Term SOFR 3 Month + 2.83%), 5.38%, 02/15/2078 (aa) | 600 | 499 | ||||||
Kinder Morgan Energy Partners LP, | ||||||||
4.30%, 05/01/2024 | 3,200 | 3,168 | ||||||
4.70%, 11/01/2042 | 850 | 659 | ||||||
Kinder Morgan, Inc., | ||||||||
1.75%, 11/15/2026 | 390 | 347 | ||||||
2.25%, 03/16/2027 | EUR | 1,500 | 1,472 | |||||
3.60%, 02/15/2051 | 35 | 22 | ||||||
Magellan Midstream Partners LP, | ||||||||
3.95%, 03/01/2050 | 105 | 70 | ||||||
5.00%, 03/01/2026 | 10 | 10 | ||||||
MPLX LP, | ||||||||
1.75%, 03/01/2026 | 400 | 363 | ||||||
2.65%, 08/15/2030 | 2,495 | 2,015 | ||||||
4.13%, 03/01/2027 | 438 | 414 | ||||||
4.50%, 04/15/2038 | 75 | 61 | ||||||
4.70%, 04/15/2048 | 1,678 | 1,273 | ||||||
4.88%, 06/01/2025 | 2,340 | 2,295 | ||||||
4.90%, 04/15/2058 | 90 | 67 | ||||||
4.95%, 03/14/2052 | 1,395 | 1,092 | ||||||
5.20%, 03/01/2047 | 10 | 8 | ||||||
5.50%, 02/15/2049 | 520 | 440 | ||||||
5.65%, 03/01/2053 | 65 | 56 | ||||||
ONEOK Partners LP, 6.13%, 02/01/2041 | 24 | 22 | ||||||
ONEOK, Inc., | ||||||||
2.20%, 09/15/2025 | 1,100 | 1,024 | ||||||
3.40%, 09/01/2029 | 1,515 | 1,315 | ||||||
4.45%, 09/01/2049 | 3,922 | 2,819 | ||||||
5.20%, 07/15/2048 | 175 | 143 | ||||||
5.55%, 11/01/2026 | 400 | 398 | ||||||
5.65%, 11/01/2028 | 295 | 291 | ||||||
5.85%, 01/15/2026 | 245 | 245 | ||||||
6.05%, 09/01/2033 | 1,100 | 1,081 | ||||||
6.10%, 11/15/2032 | 325 | 321 | ||||||
6.35%, 01/15/2031 | 90 | 90 | ||||||
7.15%, 01/15/2051 | 180 | 182 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Pipelines continued |
||||||||
Plains All American Pipeline LP / PAA Finance Corp., | ||||||||
3.55%, 12/15/2029 | 340 | 293 | ||||||
4.90%, 02/15/2045 | 140 | 106 | ||||||
Targa Resources Corp., | ||||||||
4.95%, 04/15/2052 | 835 | 641 | ||||||
5.20%, 07/01/2027 | 965 | 946 | ||||||
6.13%, 03/15/2033 | 380 | 373 | ||||||
6.50%, 02/15/2053 | 520 | 496 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.00%, 01/15/2028 | 599 | 570 | ||||||
Transcontinental Gas Pipe Line Co. LLC, | ||||||||
3.25%, 05/15/2030 | 80 | 68 | ||||||
4.00%, 03/15/2028 | 20 | 19 | ||||||
7.85%, 02/01/2026 | 428 | 445 | ||||||
Western Midstream Operating LP, | ||||||||
4.50%, 03/01/2028 | 1,200 | 1,117 | ||||||
5.25%, 02/01/2050 | 121 | 94 | ||||||
6.15%, 04/01/2033 | 330 | 318 | ||||||
6.35%, 01/15/2029 | 650 | 651 | ||||||
Williams Cos., Inc. (The), | ||||||||
3.50%, 11/15/2030 | 1,900 | 1,638 | ||||||
4.50%, 11/15/2023 | 80 | 80 | ||||||
5.30%, 08/15/2028 | 2,350 | 2,299 | ||||||
5.30%, 08/15/2052 | 140 | 119 | ||||||
5.80%, 11/15/2043 | 15 | 14 | ||||||
|
|
|||||||
48,956 | ||||||||
|
|
|||||||
Total Energy | 157,827 | |||||||
|
|
|||||||
Financial 18.4% |
||||||||
Banks 13.6% |
||||||||
ABN AMRO Bank NV, (Netherlands), | ||||||||
Reg. S, 0.40%, 09/17/2041 | EUR | 100 | 59 | |||||
Reg. S, 0.60%, 01/15/2027 | EUR | 10,000 | 9,362 | |||||
Reg. S, 1.25%, 01/10/2033 | EUR | 100 | 86 | |||||
Reg. S, 1.38%, 01/16/2025 | GBP | 1,500 | 1,733 | |||||
Reg. S, 1.38%, 01/12/2037 | EUR | 100 | 80 | |||||
Reg. S, 1.45%, 04/12/2038 | EUR | 100 | 78 | |||||
Reg. S, 4.25%, 02/21/2030 | EUR | 10,000 | 10,343 | |||||
Reg. S, 4.38%, 10/20/2028 | EUR | 12,700 | 13,329 | |||||
(CMT Index 1 Year + 1.65%), 6.34%, 09/18/2027 (e) (aa) | 1,100 | 1,098 | ||||||
Aegon Bank NV, (Netherlands), Reg. S, 0.01%, 11/16/2025 | EUR | 100 | 97 | |||||
AIB Group plc, (Ireland), | ||||||||
Reg. S, (EUR Swap Rate 1 Year + 1.30%), 2.25%, 04/04/2028 (aa) | EUR | 1,000 | 968 | |||||
Reg. S, (EUR Swap Rate 1 Year + 2.00%), 3.63%, 07/04/2026 (aa) | EUR | 1,500 | 1,554 | |||||
AMCO - Asset Management Co. SpA, (Italy), | ||||||||
Reg. S, 0.75%, 04/20/2028 | EUR | 163 | 142 | |||||
Reg. S, 1.38%, 01/27/2025 | EUR | 100 | 101 | |||||
ANZ New Zealand Intl Ltd., (New Zealand), Reg. S, 0.20%, 09/23/2027 | EUR | 6,000 | 5,457 | |||||
Argenta Spaarbank NV, (Belgium), Reg. S, 3.38%, 06/22/2028 | EUR | 100 | 104 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Arion Banki HF, (Iceland), | ||||||||
Reg. S, 0.05%, 10/05/2026 | EUR | 100 | 94 | |||||
Reg. S, 0.38%, 07/14/2025 | EUR | 2,950 | 2,874 | |||||
Arkea Public Sector SCF SA, (France), Reg. S, 0.13%, 01/15/2030 | EUR | 100 | 85 | |||||
ASB Bank Ltd., (New Zealand), | ||||||||
Reg. S, 0.25%, 09/08/2028 | EUR | 1,000 | 876 | |||||
Reg. S, 0.50%, 09/24/2029 | EUR | 1,000 | 853 | |||||
Reg. S, 0.63%, 10/18/2024 | EUR | 100 | 102 | |||||
Australia & New Zealand Banking Group Ltd., (Australia), | ||||||||
Reg. S, 0.25%, 03/17/2025 | EUR | 100 | 100 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.12%), 0.67%, 05/05/2031 (aa) | EUR | 2,925 | 2,735 | |||||
Banca Monte dei Paschi di Siena SpA, (Italy), Reg. S, 0.88%, 10/08/2026 | EUR | 3,504 | 3,334 | |||||
Banco Bilbao Vizcaya Argentaria SA, (Spain), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.52%), 0.13%, 03/24/2027 (aa) | EUR | 2,000 | 1,908 | |||||
Reg. S, 0.38%, 10/02/2024 | EUR | 1,000 | 1,018 | |||||
Reg. S, 0.38%, 11/15/2026 | EUR | 1,000 | 943 | |||||
Reg. S, 0.50%, 01/14/2027 | EUR | 1,000 | 935 | |||||
Reg. S, 1.00%, 06/21/2026 | EUR | 1,000 | 974 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.27%), 1.00%, 01/16/2030 (aa) | EUR | 1,000 | 994 | |||||
Reg. S, 1.38%, 05/14/2025 | EUR | 1,000 | 1,009 | |||||
Reg. S, 1.75%, 11/26/2025 | EUR | 10,000 | 10,045 | |||||
Reg. S, 3.38%, 09/20/2027 | EUR | 6,800 | 6,962 | |||||
Reg. S, 3.50%, 02/10/2027 | EUR | 500 | 512 | |||||
Reg. S, (UK Gilts 5 Year + 3.60%), 8.25%, 11/30/2033 (aa) | GBP | 10,000 | 12,425 | |||||
Banco de Sabadell SA, (Spain), | ||||||||
Reg. S, (EUR Swap Rate 1 Year + 0.97%), 0.63%, 11/07/2025 (aa) | EUR | 3,700 | 3,742 | |||||
Reg. S, 0.88%, 07/22/2025 | EUR | 7,500 | 7,448 | |||||
Reg. S, 1.00%, 04/26/2027 | EUR | 100 | 96 | |||||
Reg. S, (EUR Swap Rate 1 Year + 1.55%), 1.13%, 03/11/2027 (aa) | EUR | 2,900 | 2,815 | |||||
Reg. S, 1.75%, 05/30/2029 | EUR | 100 | 94 | |||||
Reg. S, (EUR Swap Rate 1 Year + 2.20%), 2.63%, 03/24/2026 (aa) | EUR | 1,500 | 1,524 | |||||
Banco Santander SA, (Spain), | ||||||||
Reg. S, 0.10%, 02/27/2032 | EUR | 200 | 155 | |||||
Reg. S, 0.20%, 02/11/2028 | EUR | 1,900 | 1,694 | |||||
Reg. S, 1.00%, 04/07/2025 | EUR | 100 | 101 | |||||
Reg. S, 1.13%, 10/25/2028 | EUR | 100 | 93 | |||||
Reg. S, 1.38%, 01/05/2026 | EUR | 200 | 198 | |||||
Reg. S, 1.63%, 10/22/2030 | EUR | 1,900 | 1,586 | |||||
Reg. S, 2.38%, 09/08/2027 | EUR | 100 | 101 | |||||
2.75%, 05/28/2025 | 800 | 754 | ||||||
3.50%, 03/24/2025 | 200 | 192 | ||||||
Reg. S, (EUR Swap Rate 1 Year + 1.05%), 3.63%, 09/27/2026 (aa) | EUR | 2,000 | 2,085 | |||||
Reg. S, 3.88%, 01/16/2028 | EUR | 10,000 | 10,409 | |||||
3.89%, 05/24/2024 | 3,800 | 3,743 | ||||||
Reg. S, 5.13%, 01/25/2030 | GBP | 1,000 | 1,150 | |||||
5.29%, 08/18/2027 | 200 | 193 | ||||||
5.59%, 08/08/2028 | 800 | 783 | ||||||
6.92%, 08/08/2033 | 1,000 | 954 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Series DIP, Reg. S, 3.25%, 04/04/2026 | EUR | 10,000 | 10,219 | |||||
Bank of America Corp., | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 0.81%, 05/09/2026 (aa) | EUR | 1,900 | 1,898 | |||||
(United States SOFR + 0.91%), 0.98%, 09/25/2025 (aa) | 177 | 168 | ||||||
(United States SOFR + 0.65%), 1.53%, 12/06/2025 (aa) | 25 | 24 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.89%), 1.66%, 04/25/2028 (aa) | EUR | 4,000 | 3,848 | |||||
Reg. S, (UK Gilts 1 Year + 1.10%), 1.67%, 06/02/2029 (aa) | GBP | 2,000 | 2,020 | |||||
(United States SOFR + 0.96%), 1.73%, 07/22/2027 (aa) | 1,465 | 1,299 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.91%), 1.95%, 10/27/2026 (aa) | EUR | 2,000 | 2,012 | |||||
(United States SOFR + 1.06%), 2.09%, 06/14/2029 (aa) | 1,500 | 1,256 | ||||||
(United States SOFR + 1.22%), 2.30%, 07/21/2032 (aa) | 1,000 | 758 | ||||||
Reg. S, 2.30%, 07/25/2025 | GBP | 1,000 | 1,146 | |||||
(CME Term SOFR 3 Month + 1.25%), 2.50%, 02/13/2031 (aa) | 3,300 | 2,645 | ||||||
(United States SOFR + 1.21%), 2.57%, 10/20/2032 (aa) | 2,605 | 2,002 | ||||||
(United States SOFR + 1.93%), 2.68%, 06/19/2041 (aa) | 1,920 | 1,237 | ||||||
(United States SOFR + 1.32%), 2.69%, 04/22/2032 (aa) | 2,150 | 1,691 | ||||||
(CME Term SOFR 3 Month + 1.45%), 2.88%, 10/22/2030 (aa) | 65 | 54 | ||||||
(CME Term SOFR 3 Month + 1.35%), 3.09%, 10/01/2025 (aa) | 10 | 10 | ||||||
(United States SOFR + 1.58%), 3.31%, 04/22/2042 (aa) | 60 | 42 | ||||||
(United States SOFR + 1.33%), 3.38%, 04/02/2026 (aa) | 1,000 | 957 | ||||||
(CME Term SOFR 3 Month + 1.30%), 3.42%, 12/20/2028 (aa) | 350 | 315 | ||||||
Reg. S, (UK Gilts 1 Year + 1.75%), 3.58%, 04/27/2031 (aa) | GBP | 1,500 | 1,586 | |||||
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa) | 1,235 | 1,218 | ||||||
(CME Term SOFR 3 Month + 1.33%), 3.97%, 03/05/2029 (aa) | 295 | 270 | ||||||
4.00%, 01/22/2025 | 4,200 | 4,087 | ||||||
(CME Term SOFR 3 Month + 1.58%), 4.08%, 04/23/2040 (aa) | 100 | 79 | ||||||
(CME Term SOFR 3 Month + 3.41%), 4.08%, 03/20/2051 (aa) | 50 | 37 | ||||||
(United States SOFR + 1.58%), 4.38%, 04/27/2028 (aa) | 1,340 | 1,266 | ||||||
(United States SOFR + 1.75%), 4.83%, 07/22/2026 (aa) | 115 | 112 | ||||||
4.88%, 04/01/2044 | 25 | 22 | ||||||
(United States SOFR + 2.04%), 4.95%, 07/22/2028 (aa) | 1,720 | 1,653 | ||||||
5.00%, 01/21/2044 | 20 | 18 | ||||||
(United States SOFR + 2.16%), 5.02%, 07/22/2033 (aa) | 470 | 433 | ||||||
(United States SOFR + 1.63%), 5.20%, 04/25/2029 (aa) | 250 | 241 | ||||||
(United States SOFR + 1.91%), 5.29%, 04/25/2034 (aa) | 1,980 | 1,842 | ||||||
(United States SOFR + 1.99%), 6.20%, 11/10/2028 (aa) | 205 | 206 | ||||||
Reg. S, 7.00%, 07/31/2028 | GBP | 650 | 836 | |||||
Series N, (United States SOFR + 1.22%), 2.65%, 03/11/2032 (aa) | 1,000 | 787 | ||||||
Series N, (United States SOFR + 1.65%), 3.48%, 03/13/2052 (aa) | 180 | 120 | ||||||
Bank of America NA, 5.53%, 08/18/2026 | 605 | 602 | ||||||
Bank of Ireland Group plc, (Ireland), Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.10%), 1.88%, 06/05/2026 (aa) | EUR | 2,900 | 2,924 | |||||
Bank of Montreal, (Canada), | ||||||||
Reg. S, 0.05%, 06/08/2029 | EUR | 100 | 86 | |||||
Reg. S, 1.00%, 04/05/2026 | EUR | 100 | 98 | |||||
1.85%, 05/01/2025 | 120 | 113 | ||||||
2.65%, 03/08/2027 | 30 | 27 | ||||||
3.70%, 06/07/2025 | 370 | 356 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
5.30%, 06/05/2026 | 130 | 128 | ||||||
5.72%, 09/25/2028 | 230 | 228 | ||||||
5.92%, 09/25/2025 | 180 | 180 | ||||||
Bank of New York Mellon Corp. (The), | ||||||||
(United States SOFR + 1.35%), 4.41%, 07/24/2026 (aa) | 235 | 229 | ||||||
(United States SOFR + 1.17%), 4.54%, 02/01/2029 (aa) | 210 | 200 | ||||||
(United States SOFR + 1.51%), 4.71%, 02/01/2034 (aa) | 100 | 90 | ||||||
Bank of New Zealand, (New Zealand), Reg. S, 2.55%, 06/29/2027 | EUR | 100 | 101 | |||||
Bank of Nova Scotia (The), (Canada), | ||||||||
Reg. S, 0.01%, 01/14/2027 | EUR | 100 | 93 | |||||
Reg. S, 0.38%, 10/23/2023 | EUR | 100 | 106 | |||||
Reg. S, 0.38%, 03/26/2030 | EUR | 100 | 85 | |||||
1.05%, 03/02/2026 | 170 | 152 | ||||||
3.45%, 04/11/2025 | 510 | 491 | ||||||
Bankinter SA, (Spain), | ||||||||
Reg. S, 0.88%, 07/08/2026 | EUR | 3,000 | 2,888 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.25%, 12/23/2032 (aa) | EUR | 3,600 | 3,170 | |||||
Banque Federative du Credit Mutuel SA, (France), | ||||||||
Reg. S, 0.01%, 03/07/2025 | EUR | 1,000 | 996 | |||||
Reg. S, 0.01%, 05/11/2026 | EUR | 1,000 | 951 | |||||
Reg. S, 0.63%, 11/03/2028 | EUR | 1,000 | 872 | |||||
Reg. S, 0.75%, 06/08/2026 | EUR | 1,000 | 968 | |||||
Reg. S, 0.75%, 01/17/2030 | EUR | 1,000 | 839 | |||||
Reg. S, 1.00%, 05/23/2025 | EUR | 4,000 | 4,014 | |||||
Reg. S, 1.13%, 11/19/2031 | EUR | 600 | 461 | |||||
Reg. S, 1.25%, 05/26/2027 | EUR | 1,000 | 954 | |||||
Reg. S, 1.25%, 06/03/2030 | EUR | 1,000 | 853 | |||||
Reg. S, 1.38%, 07/16/2028 | EUR | 3,000 | 2,799 | |||||
Reg. S, 1.88%, 11/04/2026 | EUR | 1,200 | 1,175 | |||||
Reg. S, 1.88%, 06/18/2029 | EUR | 1,000 | 886 | |||||
Reg. S, 2.50%, 05/25/2028 | EUR | 1,500 | 1,437 | |||||
Reg. S, 2.63%, 11/06/2029 | EUR | 500 | 473 | |||||
Reg. S, 3.00%, 05/21/2024 | EUR | 2,000 | 2,093 | |||||
Reg. S, 3.00%, 09/11/2025 | EUR | 7,000 | 7,197 | |||||
Reg. S, 3.13%, 09/14/2027 | EUR | 3,400 | 3,456 | |||||
Reg. S, 3.63%, 09/14/2032 | EUR | 3,000 | 3,000 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.20%), 3.88%, 06/16/2032 (aa) | EUR | 1,000 | 997 | |||||
4.94%, 01/26/2026 (e) | 2,000 | 1,947 | ||||||
Reg. S, 5.00%, 01/19/2026 | GBP | 10,000 | 11,945 | |||||
5.90%, 07/13/2026 (e) | 2,800 | 2,785 | ||||||
Barclays Bank plc, (United Kingdom), Reg. S, 5.75%, 09/14/2026 | GBP | 90 | 109 | |||||
Barclays plc, (United Kingdom), | ||||||||
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.85%), 0.88%, 01/28/2028 (aa) | EUR | 4,200 | 3,920 | |||||
Reg. S, (EUR Swap Rate 1 Year + 0.78%), 1.38%, 01/24/2026 (aa) | EUR | 5,000 | 5,066 | |||||
Reg. S, 3.00%, 05/08/2026 | GBP | 100 | 112 | |||||
Reg. S, 3.25%, 02/12/2027 | GBP | 1,200 | 1,322 | |||||
Reg. S, (UK Gilts 5 Year + 3.75%), 3.75%, 11/22/2030 (aa) | GBP | 825 | 928 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
(CMT Index 1 Year + 2.65%), 5.50%, 08/09/2028 (aa) | 975 | 937 | ||||||
(United States SOFR + 2.98%), 6.22%, 05/09/2034 (aa) | 575 | 545 | ||||||
(United States SOFR + 1.88%), 6.50%, 09/13/2027 (aa) | 1,705 | 1,702 | ||||||
(United States SOFR + 3.57%), 7.12%, 06/27/2034 (aa) | 575 | 554 | ||||||
(CMT Index 1 Year + 3.50%), 7.44%, 11/02/2033 (aa) | 855 | 878 | ||||||
Basellandschaftliche Kantonalbank, (Switzerland), Reg. S, 0.38%, 05/13/2030 | CHF | 100 | 99 | |||||
Bausparkasse Schwaebisch Hall AG, (Germany), Reg. S, 2.00%, 05/17/2034 | EUR | 100 | 90 | |||||
BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG, (Austria), | ||||||||
Reg. S, 0.10%, 05/12/2031 | EUR | 100 | 81 | |||||
Reg. S, 1.13%, 07/31/2028 | EUR | 100 | 94 | |||||
Reg. S, 2.00%, 08/25/2032 | EUR | 100 | 91 | |||||
Bayerische Landesbank, (Germany), | ||||||||
Reg. S, 0.13%, 11/02/2029 | EUR | 50 | 43 | |||||
Reg. S, 0.25%, 01/14/2025 | EUR | 100 | 101 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.40%), 1.38%, 11/22/2032 (aa) | EUR | 100 | 85 | |||||
Reg. S, 2.13%, 09/01/2031 | EUR | 50 | 48 | |||||
Reg. S, 3.75%, 02/07/2029 | EUR | 200 | 204 | |||||
Belfius Bank SA, (Belgium), | ||||||||
Reg. S, 1.00%, 10/26/2024 | EUR | 5,000 | 5,108 | |||||
Reg. S, 3.25%, 10/18/2027 | EUR | 100 | 104 | |||||
Bendigo & Adelaide Bank Ltd., (Australia), Reg. S, 4.02%, 10/04/2026 (w) | EUR | 100 | 106 | |||||
Berlin Hyp AG, (Germany), | ||||||||
Reg. S, 0.01%, 07/07/2028 | EUR | 100 | 90 | |||||
Reg. S, 1.75%, 05/10/2032 | EUR | 50 | 46 | |||||
Series 200, Reg. S, 0.38%, 02/21/2025 | EUR | 100 | 101 | |||||
BNP Paribas SA, (France), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 0.50%, 07/15/2025 (aa) | EUR | 500 | 513 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.73%), 0.50%, 02/19/2028 (aa) | EUR | 1,000 | 922 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.95%), 0.50%, 09/01/2028 (aa) | EUR | 3,900 | 3,517 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.83%), 0.50%, 01/19/2030 (aa) | EUR | 3,500 | 2,975 | |||||
Reg. S, 0.63%, 12/03/2032 | EUR | 3,000 | 2,252 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.83%), 0.88%, 07/11/2030 (aa) | EUR | 3,000 | 2,557 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.17%), 0.88%, 08/31/2033 (aa) | EUR | 1,000 | 842 | |||||
Reg. S, 1.13%, 08/28/2024 | EUR | 500 | 515 | |||||
Reg. S, 1.13%, 06/11/2026 | EUR | 1,000 | 979 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.20%), 1.13%, 01/15/2032 (aa) | EUR | 1,500 | 1,369 | |||||
Reg. S, 1.38%, 05/28/2029 | EUR | 200 | 178 | |||||
Reg. S, 1.50%, 05/23/2028 | EUR | 500 | 472 | |||||
Reg. S, 1.50%, 05/25/2028 | EUR | 1,500 | 1,433 | |||||
(United States SOFR + 0.91%), 1.68%, 06/30/2027 (e) (aa) | 1,250 | 1,106 | ||||||
Reg. S, 1.88%, 12/14/2027 | GBP | 2,000 | 2,062 | |||||
Reg. S, (UK Gilts 5 Year + 1.65%), 2.00%, 05/24/2031 (aa) | GBP | 2,500 | 2,656 | |||||
Reg. S, 2.10%, 04/07/2032 | EUR | 1,500 | 1,297 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.80%), 2.13%, 01/23/2027 (aa) | EUR | 10,000 | 9,984 | |||||
(United States SOFR + 1.22%), 2.16%, 09/15/2029 (e) (aa) | 3,465 | 2,857 | ||||||
Reg. S, 2.25%, 01/11/2027 | EUR | 500 | 493 | |||||
Reg. S, 2.38%, 02/17/2025 | EUR | 1,000 | 1,027 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.60%), 2.50%, 03/31/2032 (aa) | EUR | 4,300 | 4,089 | |||||
Reg. S, 2.88%, 02/24/2029 | GBP | 2,000 | 2,075 | |||||
Reg. S, 3.38%, 01/23/2026 | GBP | 600 | 689 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.92%), 3.88%, 01/10/2031 (aa) | EUR | 3,400 | 3,527 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.95%), 4.13%, 09/26/2032 (aa) | EUR | 16,300 | 16,985 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 4.38%, 01/13/2029 (aa) | EUR | 5,900 | 6,189 | |||||
Reg. S, 5.75%, 06/13/2032 | GBP | 4,500 | 5,301 | |||||
BNZ International Funding Ltd., (New Zealand), Reg. S, 0.38%, 09/14/2024 | EUR | 4,050 | 4,130 | |||||
BPCE SA, (France), | ||||||||
Reg. S, 0.25%, 01/15/2026 | EUR | 6,200 | 5,997 | |||||
Reg. S, 0.25%, 01/14/2031 | EUR | 1,900 | 1,513 | |||||
Reg. S, 0.63%, 09/26/2024 | EUR | 1,500 | 1,532 | |||||
Reg. S, 0.63%, 04/28/2025 | EUR | 1,000 | 1,001 | |||||
Reg. S, 0.88%, 01/31/2024 | EUR | 1,200 | 1,255 | |||||
Reg. S, 1.00%, 12/22/2025 | GBP | 2,000 | 2,203 | |||||
Reg. S, 1.00%, 10/05/2028 | EUR | 500 | 458 | |||||
Reg. S, 3.50%, 01/25/2028 | EUR | 10,000 | 10,279 | |||||
Reg. S, 4.00%, 11/29/2032 | EUR | 4,300 | 4,412 | |||||
4.63%, 07/11/2024 (e) | 1,200 | 1,177 | ||||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.65%), 5.75%, 06/01/2033 (aa) | EUR | 2,900 | 3,088 | |||||
(United States SOFR + 2.10%), 5.98%, 01/18/2027 (e) (aa) | 1,700 | 1,682 | ||||||
Caixa Geral de Depositos SA, (Portugal), Reg. S, (EUR Swap Rate 1 Year + 2.75%), 5.75%, 10/31/2028 (aa) | EUR | 100 | 109 | |||||
CaixaBank SA, (Spain), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 0.50%, 02/09/2029 (aa) | EUR | 1,500 | 1,320 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.00%), 0.75%, 05/26/2028 (aa) | EUR | 2,100 | 1,922 | |||||
Reg. S, 1.00%, 09/25/2025 | EUR | 200 | 199 | |||||
Reg. S, 1.13%, 11/12/2026 | EUR | 8,000 | 7,631 | |||||
Reg. S, 1.25%, 01/11/2027 | EUR | 200 | 195 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.63%), 1.25%, 06/18/2031 (aa) | EUR | 500 | 472 | |||||
Reg. S, 1.38%, 06/19/2026 | EUR | 2,300 | 2,239 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.68%), 2.25%, 04/17/2030 (aa) | EUR | 1,000 | 998 | |||||
Reg. S, 3.75%, 09/07/2029 | EUR | 2,500 | 2,570 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.55%), 6.25%, 02/23/2033 (aa) | EUR | 1,400 | 1,483 | |||||
(United States SOFR + 2.08%), 6.68%, 09/13/2027 (e) (aa) | 1,750 | 1,749 | ||||||
Caja Rural de Navarra SCC, (Spain), Reg. S, 3.00%, 04/26/2027 | EUR | 100 | 103 | |||||
Canadian Imperial Bank of Commerce, (Canada), | ||||||||
Reg. S, 0.04%, 07/09/2027 | EUR | 100 | 92 | |||||
3.95%, 08/04/2025 | 350 | 338 | ||||||
Cie de Financement Foncier SA, (France), | ||||||||
Reg. S, 0.23%, 09/14/2026 | EUR | 100 | 96 | |||||
Reg. S, 0.60%, 10/25/2041 | EUR | 100 | 61 | |||||
Reg. S, 0.75%, 01/21/2025 | EUR | 100 | 101 | |||||
Reg. S, 0.75%, 05/29/2026 | EUR | 100 | 98 | |||||
Reg. S, 2.38%, 03/15/2030 | EUR | 100 | 98 | |||||
Reg. S, 3.38%, 09/16/2031 | EUR | 100 | 104 | |||||
Reg. S, 3.88%, 04/25/2055 | EUR | 20 | 22 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Citigroup, Inc., | ||||||||
(United States SOFR + 0.67%), 0.98%, 05/01/2025 (aa) | 640 | 619 | ||||||
(United States SOFR + 0.77%), 1.12%, 01/28/2027 (aa) | 130 | 116 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.66%), 1.25%, 07/06/2026 (aa) | EUR | 2,000 | 2,001 | |||||
(United States SOFR + 0.77%), 1.46%, 06/09/2027 (aa) | 3,250 | 2,874 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.07%), 1.50%, 07/24/2026 (aa) | EUR | 10,000 | 10,035 | |||||
1.75%, 01/28/2025 | EUR | 700 | 717 | |||||
(United States SOFR + 0.69%), 2.01%, 01/25/2026 (aa) | 90 | 85 | ||||||
(United States SOFR + 1.18%), 2.52%, 11/03/2032 (aa) | 465 | 354 | ||||||
(United States SOFR + 1.17%), 2.56%, 05/01/2032 (aa) | 1,060 | 821 | ||||||
(United States SOFR + 2.11%), 2.57%, 06/03/2031 (aa) | 3,600 | 2,872 | ||||||
(United States SOFR + 1.38%), 2.90%, 11/03/2042 (aa) | 75 | 48 | ||||||
(United States SOFR + 1.42%), 2.98%, 11/05/2030 (aa) | 500 | 419 | ||||||
(United States SOFR + 2.84%), 3.11%, 04/08/2026 (aa) | 155 | 148 | ||||||
(United States SOFR + 1.53%), 3.29%, 03/17/2026 (aa) | 1,000 | 957 | ||||||
(CME Term SOFR 3 Month + 1.16%), 3.35%, 04/24/2025 (aa) | 65 | 64 | ||||||
(CME Term SOFR 3 Month + 1.65%), 3.67%, 07/24/2028 (aa) | 700 | 642 | ||||||
(United States SOFR + 1.94%), 3.79%, 03/17/2033 (aa) | 100 | 83 | ||||||
(United States SOFR + 1.37%), 4.14%, 05/24/2025 (aa) | 1,535 | 1,513 | ||||||
(CME Term SOFR 3 Month + 2.10%), 4.28%, 04/24/2048 (aa) | 160 | 124 | ||||||
4.40%, 06/10/2025 | 3,500 | 3,396 | ||||||
4.65%, 07/30/2045 | 10 | 8 | ||||||
4.65%, 07/23/2048 | 25 | 20 | ||||||
(United States SOFR + 4.55%), 5.32%, 03/26/2041 (aa) | 100 | 90 | ||||||
6.00%, 10/31/2033 | 50 | 49 | ||||||
(United States SOFR + 2.66%), 6.17%, 05/25/2034 (aa) | 2,260 | 2,162 | ||||||
Clydesdale Bank plc, (United Kingdom), Reg. S, 2.50%, 06/22/2027 | EUR | 5,000 | 5,018 | |||||
Commerzbank AG, (Germany), | ||||||||
Reg. S, 0.01%, 03/11/2030 | EUR | 100 | 84 | |||||
Reg. S, 0.25%, 01/12/2032 | EUR | 100 | 81 | |||||
Reg. S, 0.88%, 09/08/2025 | EUR | 100 | 100 | |||||
Reg. S, 1.00%, 03/04/2026 | EUR | 1,500 | 1,474 | |||||
Reg. S, 2.88%, 04/28/2026 | EUR | 100 | 104 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.50%), 3.00%, 09/14/2027 (aa) | EUR | 1,000 | 1,001 | |||||
Reg. S, 3.13%, 04/20/2029 | EUR | 100 | 103 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.20%), 4.63%, 03/21/2028 (aa) | EUR | 4,000 | 4,159 | |||||
Reg. S, (UK Gilts 5 Year + 5.25%), 8.63%, 02/28/2033 (aa) | GBP | 1,800 | 2,197 | |||||
Commonwealth Bank of Australia, (Australia), | ||||||||
Reg. S, 0.75%, 02/28/2028 | EUR | 100 | 93 | |||||
Reg. S, 1.13%, 01/18/2028 | EUR | 1,000 | 948 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.94%, 10/03/2029 (aa) | EUR | 1,825 | 1,855 | |||||
Reg. S, 3.25%, 10/24/2025 | EUR | 100 | 104 | |||||
Cooperatieve Rabobank UA, (Netherlands), | ||||||||
Reg. S, 0.01%, 11/27/2040 | EUR | 100 | 55 | |||||
Reg. S, 0.75%, 03/02/2032 | EUR | 100 | 84 | |||||
Reg. S, 0.88%, 02/08/2028 | EUR | 200 | 189 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.18%), 0.88%, 05/05/2028 (aa) | EUR | 700 | 654 | |||||
Reg. S, 1.25%, 03/23/2026 | EUR | 1,475 | 1,473 | |||||
Reg. S, 1.38%, 02/03/2027 | EUR | 25 | 25 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.95%), 3.88%, 11/30/2032 (aa) | EUR | 2,100 | 2,102 | |||||
4.38%, 08/04/2025 | 890 | 859 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.55%), 4.63%, 01/27/2028 (aa) | EUR | 15,700 | 16,704 | |||||
Reg. S, 5.25%, 05/23/2041 | GBP | 50 | 60 | |||||
Credit Agricole Italia SpA, (Italy), | ||||||||
Reg. S, 0.13%, 03/15/2033 | EUR | 100 | 73 | |||||
Reg. S, 3.50%, 01/15/2030 | EUR | 100 | 103 | |||||
Credit Agricole SA, (France), | ||||||||
Reg. S, 0.38%, 10/21/2025 | EUR | 7,000 | 6,858 | |||||
Reg. S, 1.00%, 09/18/2025 | EUR | 15,000 | 14,997 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 1.00%, 04/22/2026 (aa) | EUR | 3,000 | 3,006 | |||||
Reg. S, 1.75%, 03/05/2029 | EUR | 1,100 | 1,011 | |||||
Reg. S, (UK Gilts 5 Year + 1.50%), 1.87%, 12/09/2031 (aa) | GBP | 600 | 624 | |||||
Reg. S, 1.88%, 12/20/2026 | EUR | 1,000 | 984 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.77%), 1.88%, 04/22/2027 (aa) | EUR | 1,000 | 988 | |||||
Reg. S, 2.38%, 05/20/2024 | EUR | 600 | 627 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.35%), 4.00%, 10/12/2026 (aa) | EUR | 2,000 | 2,101 | |||||
Reg. S, 4.00%, 01/18/2033 | EUR | 10,000 | 10,309 | |||||
(United States SOFR + 1.86%), 6.32%, 10/03/2029 (e) (aa) (w) | 2,170 | 2,171 | ||||||
Reg. S, (UK Gilts 1 Year + 2.18%), 6.38%, 06/14/2031 (aa) | GBP | 7,300 | 8,951 | |||||
Credit Mutuel Arkea SA, (France), | ||||||||
Reg. S, 3.25%, 06/01/2026 | EUR | 500 | 513 | |||||
Reg. S, 3.38%, 09/19/2027 | EUR | 3,000 | 3,062 | |||||
Reg. S, 4.25%, 12/01/2032 | EUR | 3,600 | 3,723 | |||||
Credit Suisse AG, (Switzerland), | ||||||||
Reg. S, 0.25%, 01/05/2026 | EUR | 1,000 | 961 | |||||
Reg. S, 0.25%, 09/01/2028 | EUR | 1,200 | 1,041 | |||||
Reg. S, 5.50%, 08/20/2026 | EUR | 2,000 | 2,173 | |||||
7.95%, 01/09/2025 | 1,700 | 1,730 | ||||||
Credit Suisse Schweiz AG, (Switzerland), | ||||||||
Reg. S, 0.00%, 10/31/2030 | CHF | 25 | 23 | |||||
Reg. S, 3.39%, 12/05/2025 | EUR | 100 | 104 | |||||
Credito Emiliano SpA, (Italy), | ||||||||
Reg. S, 0.01%, 07/07/2028 | EUR | 100 | 88 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.05%), 1.13%, 01/19/2028 (aa) | EUR | 2,000 | 1,888 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 4.88%, 03/26/2030 (aa) | EUR | 12,900 | 13,483 | |||||
Crelan SA, (Belgium), | ||||||||
Reg. S, 5.38%, 10/31/2025 | EUR | 1,700 | 1,799 | |||||
Reg. S, 5.75%, 01/26/2028 | EUR | 2,500 | 2,633 | |||||
Danske Bank A/S, (Denmark), | ||||||||
IF, Reg. S, (1.15% - ICE EURIBOR Swap Rate 1 Year), 0.50%, 08/27/2025 (aa) | EUR | 425 | 433 | |||||
Reg. S, 0.63%, 05/26/2025 | EUR | 3,000 | 2,993 | |||||
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.88%), 0.75%, 06/09/2029 (aa) | EUR | 3,500 | 3,090 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Reg. S, (EUR Swap Rate 5 Year + 1.40%), 1.00%, 05/15/2031 (aa) | EUR | 1,000 | 948 | |||||
Reg. S, (EUR Swap Rate 1 Year + 0.85%), 1.38%, 02/17/2027 (aa) | EUR | 1,000 | 979 | |||||
Reg. S, (UK Gilts 1 Year + 1.65%), 2.25%, 01/14/2028 (aa) | GBP | 5,000 | 5,318 | |||||
(CMT Index 1 Year + 1.18%), 6.26%, 09/22/2026 (e) (aa) | 1,480 | 1,480 | ||||||
(CMT Index 1 Year + 2.10%), 6.47%, 01/09/2026 (e) (aa) | 2,255 | 2,251 | ||||||
Danske Hypotek AB, (Sweden), | ||||||||
Series 2512, Reg. S, 1.00%, 12/17/2025 | SEK | 2,000 | 171 | |||||
Series 2812, Reg. S, 3.50%, 12/20/2028 | SEK | 2,000 | 178 | |||||
Danske Mortgage Bank plc, (Finland), Reg. S, 0.01%, 11/24/2026 | EUR | 100 | 94 | |||||
DBS Bank Ltd., (Singapore), Reg. S, 2.81%, 10/13/2025 | EUR | 100 | 103 | |||||
de Volksbank NV, (Netherlands), Reg. S, 1.00%, 03/08/2028 | EUR | 100 | 95 | |||||
Deutsche Apotheker-und Aerztebank eG, (Germany), Reg. S, 0.01%, 02/06/2029 | EUR | 100 | 88 | |||||
Deutsche Bank AG, (Germany), | ||||||||
Reg. S, 0.13%, 01/21/2030 | EUR | 75 | 64 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 1.00%, 11/19/2025 (aa) | EUR | 200 | 202 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.67%), 1.38%, 06/10/2026 (aa) | EUR | 1,000 | 1,005 | |||||
Reg. S, 1.63%, 01/20/2027 | EUR | 2,100 | 1,989 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.38%), 1.88%, 02/23/2028 (aa) | EUR | 2,900 | 2,738 | |||||
(United States SOFR + 1.87%), 2.13%, 11/24/2026 (aa) | 2,950 | 2,668 | ||||||
Reg. S, 2.25%, 09/20/2027 | EUR | 100 | 101 | |||||
Reg. S, 2.63%, 12/16/2024 | GBP | 1,500 | 1,740 | |||||
Reg. S, 3.13%, 10/19/2026 | EUR | 100 | 104 | |||||
(United States SOFR + 2.26%), 3.74%, 01/07/2033 (aa) | 200 | 144 | ||||||
Reg. S, (SONIA Interest Rate Benchmark + 1.94%), 4.00%, 06/24/2026 (aa) | GBP | 2,000 | 2,317 | |||||
Reg. S, 4.00%, 11/29/2027 | EUR | 4,100 | 4,290 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.95%), 5.00%, 09/05/2030 (aa) | EUR | 800 | 814 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.50%), 5.38%, 01/11/2029 (aa) | EUR | 1,300 | 1,370 | |||||
(United States SOFR + 3.18%), 6.72%, 01/18/2029 (aa) | 1,575 | 1,566 | ||||||
(United States SOFR + 3.65%), 7.08%, 02/10/2034 (aa) | 2,410 | 2,179 | ||||||
(United States SOFR + 2.52%), 7.15%, 07/13/2027 (aa) | 780 | 785 | ||||||
Deutsche Kreditbank AG, (Germany), Reg. S, 1.63%, 05/05/2032 | EUR | 50 | 46 | |||||
Deutsche Pfandbriefbank AG, (Germany), | ||||||||
Reg. S, 0.63%, 08/30/2027 | EUR | 100 | 94 | |||||
Reg. S, 1.00%, 04/13/2026 | EUR | 100 | 99 | |||||
Dexia Credit Local SA, (France), | ||||||||
Reg. S, 0.00%, 01/21/2028 | EUR | 300 | 274 | |||||
Reg. S, 0.01%, 01/22/2027 | EUR | 500 | 471 | |||||
Reg. S, 0.63%, 01/17/2026 | EUR | 600 | 592 | |||||
Reg. S, 1.25%, 11/26/2024 | EUR | 700 | 718 | |||||
Reg. S, 2.13%, 02/12/2025 | GBP | 400 | 467 | |||||
Reg. S, 3.13%, 06/01/2028 | EUR | 200 | 208 | |||||
DNB Bank ASA, (Norway), Reg. S, (EUR Swap Rate 5 Year + 2.00%), 4.63%, 02/28/2033 (aa) | EUR | 5,425 | 5,598 | |||||
DNB Boligkreditt A/S, (Norway), | ||||||||
Reg. S, 0.01%, 05/12/2028 | EUR | 5,000 | 4,474 | |||||
Reg. S, 0.01%, 01/21/2031 | EUR | 100 | 81 | |||||
Reg. S, 0.25%, 09/07/2026 | EUR | 100 | 96 | |||||
Reg. S, 0.38%, 11/20/2024 | EUR | 100 | 101 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
DZ HYP AG, (Germany), | ||||||||
Reg. S, 0.01%, 06/23/2028 | EUR | 100 | 90 | |||||
Reg. S, 0.01%, 10/27/2028 | EUR | 25 | 22 | |||||
Reg. S, 0.38%, 06/06/2025 | EUR | 100 | 100 | |||||
Reg. S, 0.38%, 03/31/2026 | EUR | 100 | 97 | |||||
Reg. S, 0.88%, 04/17/2034 | EUR | 100 | 81 | |||||
Reg. S, 3.00%, 10/29/2027 | EUR | 50 | 52 | |||||
Reg. S, 3.00%, 11/30/2032 | EUR | 100 | 101 | |||||
Eika Boligkreditt A/S, (Norway), | ||||||||
Reg. S, 0.38%, 02/26/2025 | EUR | 100 | 101 | |||||
Reg. S, 3.25%, 06/14/2033 | EUR | 100 | 101 | |||||
Erste Group Bank AG, (Austria), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.52%), 0.10%, 11/16/2028 (aa) | EUR | 1,000 | 888 | |||||
Reg. S, 0.13%, 05/17/2028 | EUR | 1,000 | 882 | |||||
Reg. S, 0.50%, 01/12/2037 | EUR | 100 | 69 | |||||
Reg. S, 0.75%, 02/05/2025 | EUR | 100 | 101 | |||||
Reg. S, 0.88%, 05/22/2026 | EUR | 1,000 | 974 | |||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.10%), 0.88%, 11/15/2032 (aa) | EUR | 4,500 | 3,915 | |||||
Reg. S, 1.50%, 04/07/2026 | EUR | 1,000 | 993 | |||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.10%), 1.63%, 09/08/2031 (aa) | EUR | 1,000 | 944 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 4.00%, 01/16/2031 (aa) | EUR | 1,500 | 1,545 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 4.25%, 05/30/2030 (aa) | EUR | 9,800 | 10,242 | |||||
Federation des Caisses Desjardins du Quebec, (Canada), Reg. S, 0.01%, 04/08/2026 | EUR | 100 | 96 | |||||
Fifth Third Bancorp, (United States SOFR + 2.34%), 6.34%, 07/27/2029 (aa) | 1,525 | 1,507 | ||||||
First Abu Dhabi Bank PJSC, (United Arab Emirates), Reg. S, 0.13%, 02/16/2026 | EUR | 1,000 | 953 | |||||
Goldman Sachs Group, Inc. (The), | ||||||||
Reg. S, 0.13%, 08/19/2024 | EUR | 1,000 | 1,021 | |||||
Reg. S, 0.25%, 01/26/2028 | EUR | 1,000 | 893 | |||||
(United States SOFR + 0.61%), 0.86%, 02/12/2026 (aa) | 28 | 26 | ||||||
Reg. S, 1.00%, 03/18/2033 | EUR | 1,000 | 770 | |||||
(United States SOFR + 0.79%), 1.09%, 12/09/2026 (aa) | 585 | 524 | ||||||
Reg. S, 1.50%, 12/07/2027 | GBP | 3,000 | 3,087 | |||||
(United States SOFR + 0.73%), 1.76%, 01/24/2025 (aa) | 120 | 118 | ||||||
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa) | 1,815 | 1,603 | ||||||
2.60%, 02/07/2030 | 1,895 | 1,552 | ||||||
(United States SOFR + 1.28%), 2.62%, 04/22/2032 (aa) | 2,715 | 2,121 | ||||||
(United States SOFR + 1.26%), 2.65%, 10/21/2032 (aa) | 600 | 463 | ||||||
(United States SOFR + 1.47%), 2.91%, 07/21/2042 (aa) | 865 | 558 | ||||||
(United States SOFR + 1.41%), 3.10%, 02/24/2033 (aa) | 141 | 113 | ||||||
Reg. S, 3.13%, 07/25/2029 | GBP | 1,500 | 1,582 | |||||
Reg. S, 3.38%, 03/27/2025 | EUR | 4,000 | 4,182 | |||||
3.50%, 04/01/2025 | 97 | 94 | ||||||
(United States SOFR + 1.85%), 3.62%, 03/15/2028 (aa) | 480 | 443 | ||||||
Reg. S, (UK Gilts 1 Year + 1.95%), 3.63%, 10/29/2029 (aa) | GBP | 2,000 | 2,177 | |||||
Reg. S, 4.00%, 09/21/2029 | EUR | 1,000 | 1,030 | |||||
(CME Term SOFR 3 Month + 1.63%), 4.02%, 10/31/2038 (aa) | 60 | 47 | ||||||
Reg. S, 4.25%, 01/29/2026 | GBP | 2,000 | 2,355 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
(United States SOFR + 1.51%), 4.39%, 06/15/2027 (aa) | 1,360 | 1,309 | ||||||
(United States SOFR + 1.73%), 4.48%, 08/23/2028 (aa) | 495 | 469 | ||||||
5.15%, 05/22/2045 | 21 | 18 | ||||||
(United States SOFR + 1.08%), 5.80%, 08/10/2026 (aa) | 390 | 387 | ||||||
6.75%, 10/01/2037 | 170 | 172 | ||||||
6.88%, 01/18/2038 | GBP | 825 | 991 | |||||
Groupe des Assurances du Credit Mutuel SADIR, (France), Reg. S, (ICE LIBOR EUR 3 Month + 2.65%), 1.85%, 04/21/2042 (aa) | EUR | 2,200 | 1,696 | |||||
Hamburg Commercial Bank AG, (Germany), Reg. S, 3.38%, 02/01/2028 | EUR | 50 | 52 | |||||
HSBC Bank Canada, (Canada), Reg. S, 1.50%, 09/15/2027 | EUR | 100 | 97 | |||||
HSBC Holdings plc, (United Kingdom), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.03%), 0.77%, 11/13/2031 (aa) | EUR | 1,000 | 817 | |||||
(United States SOFR + 1.54%), 1.65%, 04/18/2026 (aa) | 1,000 | 930 | ||||||
(United States SOFR + 1.73%), 2.01%, 09/22/2028 (aa) | 800 | 679 | ||||||
Reg. S, 2.50%, 03/15/2027 | EUR | 2,000 | 1,995 | |||||
(United States SOFR + 1.43%), 3.00%, 03/10/2026 (aa) | 400 | 381 | ||||||
Reg. S, 3.00%, 06/30/2025 | EUR | 5,000 | 5,147 | |||||
(GBP Swap Rate 1 Year + 1.65%), 3.00%, 07/22/2028 (aa) | GBP | 1,000 | 1,080 | |||||
(GBP Swap Rate 1 Year + 1.77%), 3.00%, 05/29/2030 (aa) | GBP | 225 | 230 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 3.02%, 06/15/2027 (aa) | EUR | 2,175 | 2,204 | |||||
Reg. S, 3.13%, 06/07/2028 | EUR | 11,000 | 10,781 | |||||
(CME Term SOFR 3 Month + 1.87%), 3.97%, 05/22/2030 (aa) | 900 | 792 | ||||||
(United States SOFR + 2.53%), 4.76%, 03/29/2033 (aa) | 430 | 366 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.94%), 4.86%, 05/23/2033 (aa) | EUR | 11,600 | 12,050 | |||||
(United States SOFR + 2.87%), 5.40%, 08/11/2033 (aa) | 500 | 461 | ||||||
(United States SOFR + 1.57%), 5.89%, 08/14/2027 (aa) | 2,600 | 2,569 | ||||||
Reg. S, 6.00%, 03/29/2040 | GBP | 5,000 | 5,368 | |||||
(United States SOFR + 1.97%), 6.16%, 03/09/2029 (aa) | 1,350 | 1,337 | ||||||
(United States SOFR + 2.39%), 6.25%, 03/09/2034 (aa) | 570 | 557 | ||||||
(United States SOFR + 2.65%), 6.33%, 03/09/2044 (aa) | 1,680 | 1,612 | ||||||
6.50%, 09/15/2037 | 400 | 376 | ||||||
(United States SOFR + 2.98%), 6.55%, 06/20/2034 (aa) | 280 | 266 | ||||||
(SONIA Interest Rate Benchmark + 2.12%), 6.80%, 09/14/2031 (aa) | GBP | 4,500 | 5,547 | |||||
Reg. S, 7.00%, 04/07/2038 | GBP | 300 | 357 | |||||
(United States SOFR + 3.35%), 7.39%, 11/03/2028 (aa) | 980 | 1,014 | ||||||
Huntington Bancshares, Inc., (United States SOFR + 2.02%), 6.21%, 08/21/2029 (aa) | 575 | 563 | ||||||
HYPO NOE Landesbank fuer Niederoesterreich und Wien AG, (Austria), | ||||||||
Reg. S, 0.13%, 06/30/2026 | EUR | 200 | 187 | |||||
Reg. S, 3.25%, 04/19/2028 | EUR | 100 | 104 | |||||
Hypo Vorarlberg Bank AG, (Austria), | ||||||||
Reg. S, 0.75%, 02/11/2025 | EUR | 100 | 101 | |||||
Reg. S, 4.13%, 02/16/2026 | EUR | 100 | 104 | |||||
Iccrea Banca SpA, (Italy), Reg. S, 3.88%, 01/12/2029 | EUR | 100 | 105 | |||||
Industrial & Commercial Bank of China Ltd., (China), Reg. S, 0.13%, 10/28/2024 | EUR | 2,500 | 2,520 | |||||
ING Bank NV, (Netherlands), | ||||||||
Reg. S, 0.13%, 12/08/2031 | EUR | 100 | 80 | |||||
Reg. S, 0.75%, 02/18/2029 | EUR | 100 | 92 | |||||
Reg. S, 2.50%, 02/21/2030 | EUR | 100 | 99 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
ING Belgium SA, (Belgium), Reg. S, 0.01%, 02/20/2030 | EUR | 100 | 84 | |||||
ING Groep NV, (Netherlands), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.60%), 0.10%, 09/03/2025 (aa) | EUR | 2,500 | 2,543 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.43%), 0.13%, 11/29/2025 (aa) | EUR | 1,500 | 1,510 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.70%), 0.38%, 09/29/2028 (aa) | EUR | 1,000 | 897 | |||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.15%), 0.88%, 06/09/2032 (aa) | EUR | 1,000 | 898 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.20%), 1.00%, 11/13/2030 (aa) | EUR | 1,000 | 958 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.15%), 1.00%, 11/16/2032 (aa) | EUR | 1,500 | 1,323 | |||||
Reg. S, 1.13%, 02/14/2025 | EUR | 3,200 | 3,247 | |||||
Reg. S, (SONIA Interest Rate Benchmark + 0.91%), 1.13%, 12/07/2028 (aa) | GBP | 1,900 | 1,906 | |||||
Reg. S, 1.38%, 01/11/2028 | EUR | 1,000 | 950 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.25%), 1.63%, 09/26/2029 (aa) | EUR | 1,000 | 1,014 | |||||
(United States SOFR + 1.01%), 1.73%, 04/01/2027 (aa) | 1,465 | 1,311 | ||||||
Reg. S, 2.00%, 09/20/2028 | EUR | 800 | 765 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.35%), 2.00%, 03/22/2030 (aa) | EUR | 3,000 | 2,998 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.10%), 2.13%, 05/23/2026 (aa) | EUR | 3,000 | 3,057 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.13%, 05/26/2031 (aa) | EUR | 1,300 | 1,264 | |||||
Reg. S, 3.00%, 02/18/2026 | GBP | 2,000 | 2,282 | |||||
(United States SOFR + 1.64%), 3.87%, 03/28/2026 (aa) | 200 | 193 | ||||||
4.10%, 10/02/2023 | 200 | 200 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.85%), 4.88%, 11/14/2027 (aa) | EUR | 5,300 | 5,660 | |||||
(United States SOFR + 1.56%), 6.08%, 09/11/2027 (aa) | 510 | 508 | ||||||
(United States SOFR + 2.09%), 6.11%, 09/11/2034 (aa) | 200 | 194 | ||||||
ING-DiBa AG, (Germany), Reg. S, 0.01%, 10/07/2028 | EUR | 200 | 178 | |||||
Intesa Sanpaolo SpA, (Italy), | ||||||||
Reg. S, 0.38%, 09/14/2026 | EUR | 100 | 95 | |||||
Reg. S, 0.63%, 02/24/2026 | EUR | 1,000 | 963 | |||||
Reg. S, 0.75%, 12/04/2024 | EUR | 500 | 507 | |||||
Reg. S, 0.75%, 03/16/2028 | EUR | 5,500 | 4,935 | |||||
Reg. S, 1.00%, 07/04/2024 | EUR | 1,500 | 1,548 | |||||
Reg. S, 1.35%, 02/24/2031 | EUR | 1,500 | 1,181 | |||||
Reg. S, 1.50%, 04/10/2024 | EUR | 3,100 | 3,230 | |||||
Reg. S, 1.75%, 03/20/2028 | EUR | 4,000 | 3,767 | |||||
Reg. S, 2.13%, 05/26/2025 | EUR | 4,375 | 4,456 | |||||
Reg. S, 2.50%, 01/15/2030 | GBP | 3,000 | 2,875 | |||||
Reg. S, 3.38%, 01/24/2025 | EUR | 100 | 105 | |||||
Reg. S, 4.75%, 09/06/2027 | EUR | 1,000 | 1,055 | |||||
Reg. S, 5.25%, 01/13/2030 | EUR | 3,000 | 3,197 | |||||
7.00%, 11/21/2025 (e) | 1,060 | 1,073 | ||||||
(CMT Index 1 Year + 3.90%), 7.78%, 06/20/2054 (e) (aa) | 650 | 585 | ||||||
(CMT Index 1 Year + 4.40%), 8.25%, 11/21/2033 (e) (aa) | 640 | 645 | ||||||
Series XR, 3.25%, 09/23/2024 (e) | 2,900 | 2,810 | ||||||
Investec plc, (United Kingdom), | ||||||||
Reg. S, (UK Gilts 1 Year + 1.50%), 1.88%, 07/16/2028 (aa) | GBP | 1,500 | 1,494 | |||||
Reg. S, (UK Gilts 5 Year + 2.05%), 2.63%, 01/04/2032 (aa) | GBP | 1,000 | 999 | |||||
Investitionsbank Berlin, (Germany), | ||||||||
Reg. S, 2.75%, 10/04/2027 | EUR | 300 | 310 | |||||
Series 208, 0.05%, 03/02/2035 | EUR | 100 | 71 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued |
||||||||
Jyske Bank A/S, (Denmark), Reg. S, (EUR Swap Rate 1 Year + 2.10%), 4.63%, 04/11/2026 (aa) | EUR | 10,000 | 10,545 | |||||
KBC Bank NV, (Belgium), | ||||||||
Reg. S, 3.13%, 02/22/2027 | EUR | 100 | 104 | |||||
Reg. S, 3.75%, 09/28/2026 | EUR | 100 | 106 | |||||
KBC Group NV, (Belgium), | ||||||||
Reg. S, 0.63%, 04/10/2025 | EUR | 8,000 | 8,016 | |||||
Reg. S, (UK Gilts 1 Year + 0.92%), 1.25%, 09/21/2027 (aa) | GBP | 5,000 | 5,304 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.38%), 4.38%, 04/19/2030 (aa) | EUR | 7,000 | 7,289 | |||||
Kreditanstalt fuer Wiederaufbau, (Germany), | ||||||||
Reg. S, 0.00%, 02/18/2025 | EUR | 120 | 121 | |||||
Reg. S, 0.00%, 06/15/2026 | EUR | 500 | 483 | |||||
Reg. S, 0.00%, 03/31/2027 | EUR | 500 | 470 | |||||
Reg. S, 0.00%, 04/30/2027 | EUR | 2,730 | 2,562 | |||||
Reg. S, 0.00%, 12/15/2027 | EUR | 1,140 | 1,049 | |||||
Reg. S, 0.00%, 09/15/2028 | EUR | 1,325 | 1,191 | |||||
Reg. S, 0.00%, 11/09/2028 | EUR | 1,490 | 1,331 | |||||
Reg. S, 0.00%, 06/15/2029 | EUR | 254 | 223 | |||||
Reg. S, 0.00%, 09/17/2030 | EUR | 3,108 | 2,608 | |||||
Reg. S, 0.00%, 01/10/2031 | EUR | 670 | 557 | |||||
Reg. S, 0.01%, 05/05/2027 | EUR | 520 | 488 | |||||
Reg. S, 0.05%, 09/29/2034 | EUR | 780 | 571 | |||||
Reg. S, 0.13%, 01/09/2032 | EUR | 830 | 675 | |||||
0.25%, 09/15/2025 | EUR | 1,100 | 1,093 | |||||
0.38%, 07/18/2025 | 1,400 | 1,285 | ||||||
Reg. S, 0.38%, 04/23/2030 | EUR | 360 | 316 | |||||
Reg. S, 0.38%, 05/20/2036 | EUR | 548 | 396 | |||||
Reg. S, 0.50%, 09/28/2026 | EUR | 2,520 | 2,452 | |||||
0.50%, 09/15/2027 | EUR | 500 | 473 | |||||
0.63%, 01/07/2028 | EUR | 720 | 680 | |||||
Reg. S, 0.88%, 09/15/2026 | GBP | 5,000 | 5,432 | |||||
Reg. S, 0.88%, 07/04/2039 | EUR | 400 | 286 | |||||
Reg. S, 1.13%, 05/09/2033 | EUR | 550 | 474 | |||||
Reg. S, 1.38%, 12/15/2025 | GBP | 425 | 479 | |||||
Reg. S, 1.38%, 07/31/2035 | EUR | 202 | 170 | |||||
2.00%, 05/02/2025 | 195 | 185 | ||||||
Reg. S, 2.00%, 11/15/2029 | EUR | 500 | 491 | |||||
2.50%, 11/20/2024 | 750 | 725 | ||||||
Reg. S, 2.50%, 11/19/2025 | EUR | 3,450 | 3,576 | |||||
Reg. S, 2.75%, 05/15/2030 | EUR | 1,300 | 1,330 | |||||
Reg. S, 2.75%, 02/14/2033 | EUR | 700 | 703 | |||||
Reg. S, 4.13%, 02/18/2026 | GBP | 10,000 | 11,949 | |||||
4.63%, 08/07/2026 | 120 | 119 | ||||||
4.70%, 06/02/2037 | CAD | 100 | 71 | |||||
Reg. S, 4.88%, 03/15/2037 | GBP | 825 | 1,006 | |||||
5.75%, 06/07/2032 | GBP | 1,300 | 1,708 | |||||
6.00%, 12/07/2028 | GBP | 2,500 | 3,222 | |||||
Series EXC, 5.50%, 06/18/2025 | GBP | 9,900 | 12,122 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Kutxabank SA, (Spain), Reg. S, 1.25%, 09/22/2025 | EUR | 100 | 100 | |||||
La Banque Postale SA, (France), | ||||||||
Reg. S, 0.25%, 07/12/2026 | EUR | 200 | 191 | |||||
Reg. S, 0.75%, 06/23/2031 | EUR | 100 | 80 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.78%), 1.00%, 02/09/2028 (aa) | EUR | 400 | 375 | |||||
Reg. S, 1.38%, 04/24/2029 | EUR | 200 | 181 | |||||
Reg. S, 4.00%, 05/03/2028 | EUR | 200 | 210 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.85%), 5.50%, 03/05/2034 (aa) | EUR | 100 | 102 | |||||
Landesbank Baden-Wuerttemberg, (Germany), | ||||||||
Reg. S, 0.25%, 07/21/2028 | EUR | 200 | 174 | |||||
Reg. S, 0.38%, 02/18/2027 | EUR | 200 | 185 | |||||
Reg. S, 0.38%, 02/28/2028 | EUR | 200 | 178 | |||||
Reg. S, 0.38%, 05/07/2029 | EUR | 100 | 84 | |||||
Reg. S, 0.88%, 09/15/2025 | EUR | 100 | 100 | |||||
Reg. S, 3.25%, 09/27/2027 | EUR | 50 | 53 | |||||
Series 809, Reg. S, 0.38%, 07/29/2026 | EUR | 100 | 94 | |||||
Series 829, Reg. S, 1.75%, 02/28/2028 | EUR | 100 | 98 | |||||
Landesbank Hessen-Thueringen Girozentrale, (Germany), | ||||||||
Reg. S, 0.38%, 06/04/2029 | EUR | 100 | 85 | |||||
Reg. S, 0.50%, 01/19/2037 | EUR | 100 | 70 | |||||
Reg. S, 0.63%, 01/12/2027 | EUR | 100 | 96 | |||||
Reg. S, 4.00%, 02/04/2030 | EUR | 100 | 104 | |||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.75%), 4.50%, 09/15/2032 (aa) | EUR | 100 | 98 | |||||
Landeskreditbank Baden-Wuerttemberg Foerderbank, (Germany), | ||||||||
Reg. S, 0.38%, 02/25/2027 | EUR | 400 | 382 | |||||
Reg. S, 0.63%, 12/15/2025 | GBP | 2,000 | 2,209 | |||||
Landwirtschaftliche Rentenbank, (Germany), | ||||||||
Reg. S, 0.00%, 09/28/2026 | EUR | 535 | 512 | |||||
Reg. S, 0.00%, 07/19/2028 | EUR | 1,700 | 1,537 | |||||
Reg. S, 0.00%, 12/13/2028 | EUR | 720 | 642 | |||||
Reg. S, 0.00%, 11/27/2029 | EUR | 520 | 450 | |||||
Reg. S, 0.05%, 12/18/2029 | EUR | 180 | 156 | |||||
Reg. S, 0.10%, 03/08/2027 | EUR | 200 | 189 | |||||
Reg. S, 0.25%, 08/29/2025 | EUR | 300 | 299 | |||||
Reg. S, 0.38%, 02/14/2028 | EUR | 1,140 | 1,062 | |||||
Reg. S, 0.50%, 02/28/2029 | EUR | 400 | 365 | |||||
Reg. S, 0.63%, 02/20/2030 | EUR | 140 | 125 | |||||
Reg. S, 0.63%, 10/31/2036 | EUR | 75 | 55 | |||||
Reg. S, 0.88%, 12/15/2026 | GBP | 2,000 | 2,154 | |||||
Reg. S, 2.75%, 02/16/2032 | EUR | 200 | 202 | |||||
Reg. S, 3.25%, 09/06/2030 | EUR | 300 | 316 | |||||
Lloyds Bank plc, (United Kingdom), | ||||||||
Reg. S, 0.13%, 06/18/2026 | EUR | 100 | 96 | |||||
Reg. S, 6.00%, 02/08/2029 | GBP | 100 | 127 | |||||
Reg. S, 6.50%, 09/17/2040 | GBP | 300 | 395 | |||||
Lloyds Banking Group plc, (United Kingdom), | ||||||||
(UK Gilts 5 Year + 1.60%), 1.99%, 12/15/2031 (aa) | GBP | 1,900 | 1,988 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Reg. S, (UK Gilts 5 Year + 2.40%), 2.71%, 12/03/2035 (aa) | GBP | 600 | 542 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.72%), 4.50%, 03/18/2030 (aa) | EUR | 4,000 | 4,120 | |||||
(CMT Index 1 Year + 1.48%), 5.99%, 08/07/2027 (aa) | 2,150 | 2,132 | ||||||
Macquarie Group Ltd., (Australia), | ||||||||
Reg. S, 2.13%, 10/01/2031 | GBP | 1,500 | 1,378 | |||||
Reg. S, 4.08%, 05/31/2029 | GBP | 2,000 | 2,191 | |||||
Mediobanca Banca di Credito Finanziario SpA, (Italy), | ||||||||
Reg. S, 0.75%, 07/15/2027 | EUR | 425 | 393 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 1.00%, 07/17/2029 (aa) | EUR | 3,000 | 2,659 | |||||
Reg. S, 1.13%, 07/15/2025 | EUR | 975 | 974 | |||||
Reg. S, 2.38%, 06/30/2027 | EUR | 100 | 100 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 4.88%, 09/13/2027 (aa) | EUR | 8,050 | 8,494 | |||||
Series 4, Reg. S, 1.38%, 11/10/2025 | EUR | 100 | 100 | |||||
Mitsubishi UFJ Financial Group, Inc., (Japan), | ||||||||
(CMT Index 1 Year + 0.55%), 0.95%, 07/19/2025 (aa) | 400 | 383 | ||||||
(CMT Index 1 Year + 0.75%), 1.54%, 07/20/2027 (aa) | 2,000 | 1,772 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.94%), 2.26%, 06/14/2025 (aa) | EUR | 2,275 | 2,369 | |||||
(CMT Index 1 Year + 0.83%), 2.34%, 01/19/2028 (aa) | 640 | 569 | ||||||
Reg. S, 3.56%, 06/15/2032 | EUR | 4,550 | 4,537 | |||||
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa) | 1,000 | 989 | ||||||
(CMT Index 1 Year + 1.90%), 5.35%, 09/13/2028 (aa) | 3,450 | 3,376 | ||||||
Mizuho Financial Group, Inc., (Japan), | ||||||||
Reg. S, 0.12%, 09/06/2024 | EUR | 1,000 | 1,019 | |||||
Reg. S, 0.21%, 10/07/2025 | EUR | 2,000 | 1,963 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.72%), 0.47%, 09/06/2029 (aa) | EUR | 1,000 | 863 | |||||
Reg. S, 2.10%, 04/08/2032 | EUR | 1,000 | 875 | |||||
(CME Term SOFR 3 Month + 1.09%), 2.23%, 05/25/2026 (aa) | 3,000 | 2,804 | ||||||
(CMT Index 1 Year + 0.90%), 2.65%, 05/22/2026 (aa) | 1,000 | 943 | ||||||
(CME Term SOFR 3 Month + 1.24%), 2.84%, 07/16/2025 (aa) | 400 | 389 | ||||||
Reg. S, 4.42%, 05/20/2033 | EUR | 20,000 | 20,544 | |||||
(CMT Index 1 Year + 2.05%), 5.41%, 09/13/2028 (aa) | 1,400 | 1,370 | ||||||
Reg. S, 5.63%, 06/13/2028 | GBP | 3,150 | 3,777 | |||||
(CMT Index 1 Year + 1.90%), 5.75%, 07/06/2034 (aa) | 780 | 745 | ||||||
Morgan Stanley, | ||||||||
(ICE LIBOR EUR 3 Month + 0.70%), 0.41%, 10/29/2027 (aa) | EUR | 4,350 | 4,072 | |||||
(United States SOFR + 0.56%), 1.16%, 10/21/2025 (aa) | 1,240 | 1,171 | ||||||
(United States SOFR + 0.86%), 1.51%, 07/20/2027 (aa) | 725 | 641 | ||||||
(United States SOFR + 0.88%), 1.59%, 05/04/2027 (aa) | 185 | 165 | ||||||
1.88%, 04/27/2027 | EUR | 2,500 | 2,446 | |||||
(ICE LIBOR EUR 3 Month + 0.90%), 2.10%, 05/08/2026 (aa) | EUR | 900 | 918 | |||||
2.63%, 03/09/2027 | GBP | 1,425 | 1,576 | |||||
(United States SOFR + 1.14%), 2.70%, 01/22/2031 (aa) | 1,000 | 818 | ||||||
(United States SOFR + 1.43%), 2.80%, 01/25/2052 (aa) | 45 | 26 | ||||||
(ICE LIBOR EUR 3 Month + 1.25%), 2.95%, 05/07/2032 (aa) | EUR | 5,200 | 4,880 | |||||
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa) | 120 | 118 | ||||||
4.30%, 01/27/2045 | 170 | 134 | ||||||
(CME Term SOFR 3 Month + 1.89%), 4.43%, 01/23/2030 (aa) | 75 | 69 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
(CME Term SOFR 3 Month + 1.69%), 4.46%, 04/22/2039 (aa) | 10 | 8 | ||||||
(ICE LIBOR EUR 3 Month + 1.30%), 4.66%, 03/02/2029 (aa) | EUR | 2,400 | 2,535 | |||||
(United States SOFR + 1.67%), 4.68%, 07/17/2026 (aa) | 965 | 940 | ||||||
(ICE LIBOR EUR 3 Month + 1.76%), 4.81%, 10/25/2028 (aa) | EUR | 5,000 | 5,358 | |||||
(United States SOFR + 1.87%), 5.25%, 04/21/2034 (aa) | 1,025 | 952 | ||||||
(United States SOFR + 1.88%), 5.42%, 07/21/2034 (aa) | 915 | 863 | ||||||
(United States SOFR + 1.63%), 5.45%, 07/20/2029 (aa) | 580 | 566 | ||||||
(United States SOFR + 4.84%), 5.60%, 03/24/2051 (aa) | 40 | 37 | ||||||
(SONIA Interest Rate Benchmark + 2.25%), 5.79%, 11/18/2033 (aa) | GBP | 4,300 | 5,080 | |||||
(CMT Index 5 Year + 2.43%), 5.95%, 01/19/2038 (aa) | 135 | 126 | ||||||
(United States SOFR + 2.24%), 6.30%, 10/18/2028 (aa) | 1,020 | 1,028 | ||||||
(United States SOFR + 2.56%), 6.34%, 10/18/2033 (aa) | 750 | 755 | ||||||
Muenchener Hypothekenbank eG, (Germany), | ||||||||
Reg. S, 0.01%, 11/02/2040 | EUR | 50 | 28 | |||||
Reg. S, 0.13%, 02/01/2029 | EUR | 50 | 44 | |||||
Reg. S, 1.00%, 04/18/2039 | EUR | 50 | 36 | |||||
Reg. S, 1.50%, 06/25/2024 | EUR | 100 | 104 | |||||
Reg. S, 2.50%, 07/04/2028 | EUR | 50 | 51 | |||||
National Australia Bank Ltd., (Australia), | ||||||||
Reg. S, 0.25%, 05/20/2024 | EUR | 1,000 | 1,032 | |||||
Reg. S, 0.63%, 09/18/2024 | EUR | 1,000 | 1,023 | |||||
Reg. S, 0.75%, 01/30/2026 | EUR | 100 | 98 | |||||
Reg. S, 1.25%, 05/18/2026 | EUR | 1,000 | 993 | |||||
Reg. S, (UK Gilts 5 Year + 1.40%), 1.70%, 09/15/2031 (aa) | GBP | 1,425 | 1,475 | |||||
Reg. S, 2.13%, 05/24/2028 | EUR | 500 | 489 | |||||
Reg. S, 2.35%, 08/30/2029 | EUR | 100 | 97 | |||||
National Bank of Canada, (Canada), | ||||||||
Reg. S, 0.75%, 03/13/2025 | EUR | 100 | 101 | |||||
5.25%, 01/17/2025 | 250 | 248 | ||||||
Nationale-Nederlanden Bank NV (The), (Netherlands), Reg. S, 0.01%, 07/08/2030 | EUR | 100 | 83 | |||||
NatWest Group plc, (United Kingdom), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.89%), 0.67%, 09/14/2029 (aa) | EUR | 2,000 | 1,721 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.27%), 1.04%, 09/14/2032 (aa) | EUR | 2,375 | 2,080 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.74%), 2.00%, 03/04/2025 (aa) | EUR | 100 | 105 | |||||
Reg. S, (UK Gilts 5 Year + 1.75%), 2.11%, 11/28/2031 (aa) | GBP | 600 | 624 | |||||
Reg. S, (GBP Swap Rate 1 Year + 1.49%), 2.88%, 09/19/2026 (aa) | GBP | 2,000 | 2,274 | |||||
Reg. S, (UK Gilts 1 Year + 2.10%), 3.62%, 03/29/2029 (aa) | GBP | 4,000 | 4,332 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.83%), 4.77%, 02/16/2029 (aa) | EUR | 2,000 | 2,093 | |||||
(CMT Index 1 Year + 1.95%), 5.81%, 09/13/2029 (aa) | 1,670 | 1,620 | ||||||
NatWest Markets plc, (United Kingdom), | ||||||||
Reg. S, 0.13%, 06/18/2026 | EUR | 1,000 | 944 | |||||
Reg. S, 2.00%, 08/27/2025 | EUR | 1,000 | 1,014 | |||||
NIBC Bank NV, (Netherlands), Reg. S, 0.63%, 06/01/2026 | EUR | 100 | 97 | |||||
NORD / LB Luxembourg SA Covered Bond Bank, (Luxembourg), Reg. S, 0.01%, 06/10/2027 | EUR | 100 | 92 | |||||
Norddeutsche Landesbank-Girozentrale, (Germany), | ||||||||
Reg. S, 0.01%, 09/23/2026 | EUR | 100 | 95 | |||||
Reg. S, 0.25%, 10/28/2026 | EUR | 20 | 19 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Reg. S, 0.50%, 06/29/2026 | EUR | 50 | 49 | |||||
Reg. S, 3.13%, 02/20/2026 | EUR | 50 | 52 | |||||
Nordea Bank Abp, (Finland), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 0.92%), 0.63%, 08/18/2031 (aa) | EUR | 5,000 | 4,677 | |||||
Reg. S, 4.13%, 05/05/2028 | EUR | 6,025 | 6,316 | |||||
Nordea Hypotek AB, (Sweden), | ||||||||
Series 5534, Reg. S, 1.00%, 09/18/2024 | SEK | 300 | 27 | |||||
Series 5535, Reg. S, 1.00%, 09/17/2025 | SEK | 2,200 | 190 | |||||
Series 5536, Reg. S, 0.50%, 09/16/2026 | SEK | 1,200 | 99 | |||||
Series 5537, Reg. S, 1.00%, 06/16/2027 | SEK | 2,000 | 164 | |||||
Nordea Kiinnitysluottopankki OYJ, (Finland), | ||||||||
Reg. S, 0.13%, 06/18/2027 | EUR | 100 | 93 | |||||
Reg. S, 2.50%, 09/14/2032 | EUR | 100 | 97 | |||||
NRW Bank, (Germany), | ||||||||
Reg. S, 0.00%, 07/28/2031 | EUR | 138 | 112 | |||||
Reg. S, 0.10%, 07/09/2035 | EUR | 300 | 212 | |||||
Reg. S, 0.25%, 03/10/2025 | EUR | 120 | 121 | |||||
Reg. S, 0.38%, 12/16/2024 | GBP | 2,000 | 2,294 | |||||
Reg. S, 0.38%, 05/16/2029 | EUR | 550 | 493 | |||||
Reg. S, 0.50%, 05/26/2025 | EUR | 320 | 321 | |||||
Reg. S, 0.50%, 06/17/2041 | EUR | 100 | 62 | |||||
Reg. S, 0.75%, 06/30/2028 | EUR | 260 | 243 | |||||
1.20%, 03/28/2039 | EUR | 100 | 75 | |||||
1.25%, 05/13/2049 | EUR | 87 | 55 | |||||
2.75%, 02/21/2029 | EUR | 500 | 513 | |||||
Reg. S, 3.00%, 05/31/2030 | EUR | 500 | 518 | |||||
Nykredit Realkredit A/S, (Denmark), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 1.18%), 0.88%, 07/28/2031 (aa) | EUR | 5,000 | 4,616 | |||||
Series 13H, Reg. S, 1.00%, 07/01/2026 | DKK | 600 | 79 | |||||
Series 13H, Reg. S, 1.00%, 01/01/2027 | DKK | 1,000 | 131 | |||||
Series 13H, Reg. S, 1.00%, 01/01/2028 | DKK | 200 | 25 | |||||
Series 13H, Reg. S, 2.00%, 01/01/2025 | DKK | 300 | 42 | |||||
Series 13H, Reg. S, 2.00%, 01/01/2026 | DKK | 1,000 | 137 | |||||
Oesterreichische Kontrollbank AG, (Austria), | ||||||||
Reg. S, 0.00%, 10/08/2026 | EUR | 150 | 143 | |||||
Reg. S, 0.25%, 09/26/2024 | EUR | 300 | 306 | |||||
OP Corporate Bank plc, (Finland), Reg. S, 4.13%, 04/18/2027 | EUR | 3,000 | 3,167 | |||||
OP Mortgage Bank, (Finland), | ||||||||
Reg. S, 0.63%, 02/15/2029 | EUR | 100 | 90 | |||||
Reg. S, 1.00%, 10/05/2027 | EUR | 100 | 96 | |||||
Reg. S, 2.75%, 06/22/2026 | EUR | 100 | 103 | |||||
Pfandbriefbank Schweizerischer Hypothekarinstitute AG, (Switzerland), | ||||||||
Reg. S, 0.00%, 02/26/2030 | CHF | 800 | 781 | |||||
Series 675, Reg. S, 0.00%, 06/15/2027 | CHF | 50 | 51 | |||||
Series 678, Reg. S, 0.00%, 08/26/2049 | CHF | 40 | 28 | |||||
Series 682, Reg. S, 0.00%, 04/06/2027 | CHF | 100 | 103 | |||||
Series 683, Reg. S, 0.00%, 02/25/2028 | CHF | 200 | 202 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Series 684, Reg. S, 0.00%, 05/10/2045 | CHF | 125 | 92 | |||||
Series 695, Reg. S, 0.00%, 10/26/2029 | CHF | 200 | 196 | |||||
Series 697, Reg. S, 0.00%, 05/20/2041 | CHF | 200 | 159 | |||||
Series 706, Reg. S, 0.13%, 08/19/2031 | CHF | 200 | 192 | |||||
Series 743, Reg. S, 1.75%, 07/09/2038 | CHF | 50 | 54 | |||||
Pfandbriefzentrale der schweizerischen Kantonalbanken AG, (Switzerland), | ||||||||
Series 483, Reg. S, 0.00%, 01/27/2027 | CHF | 700 | 721 | |||||
Series 517, Reg. S, 0.00%, 04/02/2031 | CHF | 100 | 96 | |||||
Series 524, Reg. S, 0.00%, 06/21/2028 | CHF | 200 | 201 | |||||
Series 528, Reg. S, 0.00%, 03/15/2030 | CHF | 50 | 49 | |||||
Series 530, Reg. S, 0.00%, 03/18/2033 | CHF | 120 | 110 | |||||
Series 531, Reg. S, 0.00%, 02/15/2036 | CHF | 205 | 178 | |||||
Series 534, Reg. S, 0.00%, 03/13/2028 | CHF | 50 | 51 | |||||
Series 538, Reg. S, 0.00%, 07/25/2031 | CHF | 200 | 190 | |||||
Series 576, Reg. S, 1.85%, 07/19/2038 | CHF | 50 | 55 | |||||
PNC Financial Services Group, Inc. (The), | ||||||||
(SOFR Compounded Index + 1.09%), 5.67%, 10/28/2025 (aa) | 580 | 575 | ||||||
(United States SOFR + 1.32%), 5.81%, 06/12/2026 (aa) | 180 | 179 | ||||||
Prima Banka Slovensko A/S, (Slovakia), Reg. S, 0.01%, 09/14/2027 | EUR | 100 | 90 | |||||
Raiffeisen Bank International AG, (Austria), | ||||||||
Reg. S, 0.25%, 01/22/2025 | EUR | 2,000 | 1,988 | |||||
Reg. S, 3.88%, 03/16/2026 | EUR | 100 | 105 | |||||
Raiffeisenlandesbank Niederoesterreich-Wien AG, (Austria), Reg. S, 0.63%, 08/28/2026 | EUR | 200 | 193 | |||||
Raiffeisenlandesbank Oberoesterreich AG, (Austria), Reg. S, 1.25%, 04/26/2027 | EUR | 100 | 97 | |||||
Raiffeisen-Landesbank Steiermark AG, (Austria), Reg. S, 2.38%, 06/14/2028 | EUR | 100 | 100 | |||||
Raiffeisen-Landesbank Tirol AG, (Austria), Reg. S, 3.00%, 01/24/2028 | EUR | 100 | 102 | |||||
Rheinland-Pfalz Bank, (Germany), SUB, 6.88%, 02/23/2028 (e) | 200 | 211 | ||||||
Royal Bank of Canada, (Canada), | ||||||||
Reg. S, 0.01%, 10/05/2028 | EUR | 100 | 88 | |||||
Reg. S, 0.63%, 09/10/2025 | EUR | 100 | 99 | |||||
1.15%, 06/10/2025 | 100 | 93 | ||||||
Reg. S, 2.38%, 09/13/2027 | EUR | 150 | 151 | |||||
3.63%, 05/04/2027 | 90 | 84 | ||||||
5.00%, 02/01/2033 | 55 | 51 | ||||||
5.20%, 08/01/2028 | 4,000 | 3,893 | ||||||
6.00%, 11/01/2027 | 30 | 30 | ||||||
Santander Consumer Bank A/S, (Norway), Reg. S, 0.13%, 02/25/2025 | EUR | 5,200 | 5,180 | |||||
Santander Holdings USA, Inc., | ||||||||
3.45%, 06/02/2025 | 45 | 43 | ||||||
(United States SOFR + 2.36%), 6.50%, 03/09/2029 (aa) | 190 | 185 | ||||||
Santander UK Group Holdings plc, (United Kingdom), | ||||||||
Reg. S, (EUR Swap Rate 1 Year + 0.80%), 0.60%, 09/13/2029 (aa) | EUR | 2,050 | 1,746 | |||||
(United States SOFR + 0.79%), 1.09%, 03/15/2025 (aa) | 600 | 584 | ||||||
(United States SOFR + 1.22%), 2.47%, 01/11/2028 (aa) | 480 | 418 | ||||||
(United States SOFR + 2.75%), 6.83%, 11/21/2026 (aa) | 2,200 | 2,212 | ||||||
Santander UK plc, (United Kingdom), Reg. S, 0.05%, 01/12/2027 | EUR | 100 | 93 | |||||
Skandinaviska Enskilda Banken AB, (Sweden), | ||||||||
Reg. S, 0.05%, 07/01/2024 | EUR | 1,475 | 1,513 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.35%), 1.38%, 10/31/2028 (aa) | EUR | 425 | 448 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Reg. S, 3.25%, 11/24/2025 | EUR | 6,825 | 7,094 | |||||
Reg. S, 3.25%, 05/04/2028 | EUR | 100 | 104 | |||||
Series 581, Reg. S, 0.50%, 12/16/2026 | SEK | 2,000 | 164 | |||||
Series 601, Reg. S, 3.00%, 12/06/2027 | SEK | 2,000 | 176 | |||||
Societe Generale SA, (France), | ||||||||
Reg. S, 0.13%, 02/24/2026 | EUR | 1,000 | 961 | |||||
Reg. S, 0.25%, 07/08/2027 | EUR | 2,900 | 2,642 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.28%), 0.88%, 09/22/2028 (aa) | EUR | 1,500 | 1,369 | |||||
(EUR Swap Rate 5 Year + 1.55%), 1.00%, 11/24/2030 (aa) | EUR | 1,000 | 954 | |||||
Reg. S, 1.13%, 01/23/2025 | EUR | 200 | 203 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.50%), 1.13%, 04/21/2026 (aa) | EUR | 3,900 | 3,910 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.60%), 1.13%, 06/30/2031 (aa) | EUR | 1,000 | 931 | |||||
Reg. S, 1.25%, 12/07/2027 | GBP | 3,000 | 3,003 | |||||
Reg. S, 1.25%, 06/12/2030 | EUR | 2,000 | 1,691 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.60%), 1.50%, 05/30/2025 (aa) | EUR | 500 | 519 | |||||
(CMT Index 1 Year + 1.05%), 2.23%, 01/21/2026 (e) (aa) | 2,850 | 2,683 | ||||||
Reg. S, 2.63%, 05/30/2029 | EUR | 1,000 | 971 | |||||
(CMT Index 1 Year + 1.30%), 2.80%, 01/19/2028 (e) (aa) | 2,595 | 2,307 | ||||||
Reg. S, 4.00%, 11/16/2027 | EUR | 8,000 | 8,368 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.80%), 4.25%, 12/06/2030 (aa) | EUR | 1,500 | 1,511 | |||||
SpareBank 1 Boligkreditt A/S, (Norway), | ||||||||
Reg. S, 0.01%, 09/22/2027 | EUR | 5,000 | 4,570 | |||||
Reg. S, 0.13%, 05/12/2031 | EUR | 100 | 81 | |||||
Reg. S, 1.00%, 01/30/2029 | EUR | 100 | 92 | |||||
SpareBank 1 Oestlandet, (Norway), | ||||||||
Reg. S, 0.25%, 09/30/2024 | EUR | 600 | 608 | |||||
Reg. S, 1.75%, 04/27/2027 | EUR | 1,000 | 972 | |||||
SpareBank 1 SR-Bank ASA, (Norway), Reg. S, 0.63%, 03/25/2024 | EUR | 700 | 727 | |||||
Sparebanken Soer Boligkreditt A/S, (Norway), | ||||||||
Reg. S, 0.01%, 09/25/2028 | EUR | 5,000 | 4,411 | |||||
Reg. S, 0.50%, 02/06/2026 | EUR | 100 | 98 | |||||
SR-Boligkreditt A/S, (Norway), Reg. S, 0.01%, 03/10/2031 | EUR | 100 | 81 | |||||
Stadshypotek AB, (Sweden), | ||||||||
Reg. S, 0.01%, 11/24/2028 | EUR | 100 | 88 | |||||
Reg. S, 0.50%, 07/11/2025 | EUR | 100 | 100 | |||||
Reg. S, 3.63%, 06/20/2028 | SEK | 2,000 | 180 | |||||
Series 1590, Reg. S, 1.00%, 09/03/2025 | SEK | 2,000 | 173 | |||||
Series 1591, Reg. S, 0.50%, 06/01/2026 | SEK | 2,000 | 167 | |||||
Series 1592, Reg. S, 1.00%, 03/01/2027 | SEK | 2,000 | 166 | |||||
Series 1594, Reg. S, 2.00%, 09/01/2028 | SEK | 2,000 | 166 | |||||
Standard Chartered plc, (United Kingdom), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 1.55%), 1.20%, 09/23/2031 (aa) | EUR | 4,000 | 3,643 | |||||
(CMT Index 1 Year + 1.00%), 1.46%, 01/14/2027 (e) (aa) | 1,200 | 1,071 | ||||||
(CMT Index 1 Year + 1.18%), 2.61%, 01/12/2028 (e) (aa) | 2,600 | 2,302 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Sumitomo Mitsui Financial Group, Inc., (Japan), | ||||||||
1.47%, 07/08/2025 | 250 | 231 | ||||||
Reg. S, 1.55%, 06/15/2026 | EUR | 6,000 | 5,931 | |||||
1.90%, 09/17/2028 | 400 | 331 | ||||||
5.46%, 01/13/2026 | 200 | 198 | ||||||
5.52%, 01/13/2028 | 200 | 197 | ||||||
5.71%, 01/13/2030 | 200 | 196 | ||||||
5.77%, 01/13/2033 | 760 | 744 | ||||||
5.78%, 07/13/2033 | 1,000 | 978 | ||||||
5.88%, 07/13/2026 | 1,335 | 1,334 | ||||||
Sumitomo Mitsui Trust Bank Ltd., (Japan), Reg. S, 0.01%, 10/15/2027 | EUR | 100 | 90 | |||||
Svenska Handelsbanken AB, (Sweden), | ||||||||
Reg. S, 0.05%, 09/06/2028 | EUR | 1,000 | 869 | |||||
Reg. S, 0.13%, 11/03/2026 | EUR | 3,200 | 3,003 | |||||
Reg. S, 0.50%, 02/18/2030 | EUR | 1,875 | 1,569 | |||||
Reg. S, 1.00%, 04/15/2025 | EUR | 2,000 | 2,018 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.80%), 3.25%, 06/01/2033 (aa) | EUR | 1,500 | 1,463 | |||||
Reg. S, 3.75%, 11/01/2027 | EUR | 1,200 | 1,255 | |||||
Sveriges Sakerstallda Obligationer AB, (Sweden), | ||||||||
Reg. S, 0.01%, 03/14/2030 | EUR | 100 | 84 | |||||
Reg. S, 0.63%, 10/30/2025 | EUR | 100 | 99 | |||||
Series 146, Reg. S, 0.50%, 06/11/2025 | SEK | 2,000 | 172 | |||||
Series 147, Reg. S, 2.00%, 06/17/2026 | SEK | 1,000 | 87 | |||||
Series 148, Reg. S, 0.25%, 06/09/2027 | SEK | 2,000 | 160 | |||||
Swedbank AB, (Sweden), | ||||||||
Reg. S, (EUR Swap Rate 1 Year + 0.57%), 0.30%, 05/20/2027 (aa) | EUR | 1,500 | 1,420 | |||||
Reg. S, 0.75%, 05/05/2025 | EUR | 1,300 | 1,301 | |||||
Reg. S, 1.30%, 02/17/2027 | EUR | 1,000 | 951 | |||||
Reg. S, (UK Gilts 1 Year + 1.00%), 1.38%, 12/08/2027 (aa) | GBP | 1,500 | 1,580 | |||||
Reg. S, 2.10%, 05/25/2027 | EUR | 1,000 | 982 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.15%), 3.63%, 08/23/2032 (aa) | EUR | 1,500 | 1,468 | |||||
Reg. S, 4.38%, 09/05/2030 | EUR | 10,000 | 10,331 | |||||
Reg. S, (UK Gilts 5 Year + 3.80%), 7.27%, 11/15/2032 (aa) | GBP | 6,000 | 7,253 | |||||
Sydbank A/S, (Denmark), Reg. S, (EUR Swap Rate 1 Year + 1.80%), 4.75%, 09/30/2025 (aa) | EUR | 6,500 | 6,824 | |||||
Toronto-Dominion Bank (The), (Canada), | ||||||||
1.25%, 09/10/2026 | 20 | 18 | ||||||
Reg. S, 1.71%, 07/28/2025 | EUR | 100 | 102 | |||||
Reg. S, 1.95%, 04/08/2030 | EUR | 1,300 | 1,180 | |||||
Reg. S, 2.88%, 04/05/2027 | GBP | 5,000 | 5,537 | |||||
Reg. S, 3.72%, 03/13/2030 | EUR | 100 | 105 | |||||
Reg. S, 3.77%, 09/08/2026 | EUR | 100 | 105 | |||||
4.69%, 09/15/2027 | 515 | 495 | ||||||
5.52%, 07/17/2028 | 2,150 | 2,123 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Truist Financial Corp., | ||||||||
1.20%, 08/05/2025 | 460 | 422 | ||||||
3.88%, 03/19/2029 | 1,400 | 1,229 | ||||||
(United States SOFR + 2.36%), 5.87%, 06/08/2034 (aa) | 370 | 349 | ||||||
(United States SOFR + 2.05%), 6.05%, 06/08/2027 (aa) | 220 | 218 | ||||||
UBS AG, (Switzerland), | ||||||||
Reg. S, 0.50%, 03/31/2031 | EUR | 9,000 | 7,178 | |||||
5.65%, 09/11/2028 | 589 | 581 | ||||||
UBS Group AG, (Switzerland), | ||||||||
Reg. S, 0.25%, 02/24/2028 | EUR | 1,000 | 875 | |||||
Reg. S, (EUR Swap Rate 1 Year + 0.77%), 0.25%, 11/05/2028 (aa) | EUR | 1,200 | 1,052 | |||||
Reg. S, 0.63%, 01/18/2033 | EUR | 15,500 | 11,146 | |||||
Reg. S, 0.63%, 02/24/2033 | EUR | 1,000 | 731 | |||||
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.80%), 1.00%, 03/21/2025 (aa) | EUR | 3,000 | 3,118 | |||||
Reg. S, (EUR Swap Rate 1 Year + 0.75%), 1.25%, 04/17/2025 (aa) | EUR | 200 | 207 | |||||
Reg. S, (EUR Swap Rate 1 Year + 0.75%), 1.25%, 07/17/2025 (aa) | EUR | 1,400 | 1,439 | |||||
Reg. S, 1.25%, 09/01/2026 | EUR | 1,000 | 964 | |||||
Reg. S, (EUR Swap Rate 1 Year + 1.60%), 2.13%, 10/13/2026 (aa) | EUR | 900 | 903 | |||||
(CMT Index 1 Year + 1.10%), 2.75%, 02/11/2033 (e) (aa) | 1,000 | 756 | ||||||
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.15%), 2.75%, 06/15/2027 (aa) | EUR | 5,000 | 4,998 | |||||
Reg. S, (EUR Swap Rate 1 Year + 1.95%), 2.88%, 04/02/2032 (aa) | EUR | 2,600 | 2,365 | |||||
(United States SOFR + 1.73%), 3.09%, 05/14/2032 (e) (aa) | 755 | 597 | ||||||
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.35%), 3.13%, 06/15/2030 (aa) | EUR | 1,500 | 1,445 | |||||
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.55%), 4.38%, 01/11/2031 (aa) | EUR | 2,000 | 2,044 | |||||
UniCredit Bank AG, (Germany), | ||||||||
Reg. S, 0.01%, 09/15/2028 | EUR | 50 | 45 | |||||
Reg. S, 0.01%, 03/10/2031 | EUR | 125 | 102 | |||||
Reg. S, 0.85%, 05/22/2034 | EUR | 50 | 40 | |||||
Reg. S, 0.88%, 01/11/2029 | EUR | 100 | 92 | |||||
Reg. S, 1.88%, 04/09/2024 | EUR | 100 | 105 | |||||
UniCredit Bank Austria AG, (Austria), Reg. S, 0.05%, 09/21/2035 | EUR | 100 | 68 | |||||
UniCredit SpA, (Italy), | ||||||||
Reg. S, 0.33%, 01/19/2026 | EUR | 1,000 | 966 | |||||
Reg. S, 0.38%, 10/31/2026 | EUR | 100 | 95 | |||||
Reg. S, 0.50%, 04/09/2025 | EUR | 1,000 | 996 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 0.80%, 07/05/2029 (aa) | EUR | 1,000 | 881 | |||||
Reg. S, 0.85%, 01/19/2031 | EUR | 1,000 | 796 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 0.85%), 0.93%, 01/18/2028 (aa) | EUR | 1,000 | 935 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.35%), 1.20%, 01/20/2026 (aa) | EUR | 3,275 | 3,298 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.55%), 1.25%, 06/25/2025 (aa) | EUR | 1,000 | 1,032 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.90%), 1.63%, 07/03/2025 (aa) | EUR | 500 | 517 | |||||
Reg. S, 1.63%, 01/18/2032 | EUR | 1,000 | 815 | |||||
Reg. S, 1.80%, 01/20/2030 | EUR | 1,000 | 873 | |||||
Reg. S, 2.13%, 10/24/2026 | EUR | 1,000 | 992 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.55%), 2.20%, 07/22/2027 (aa) | EUR | 1,000 | 978 | |||||
(CMT Index 1 Year + 2.30%), 2.57%, 09/22/2026 (e) (aa) | 3,000 | 2,748 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 4.45%, 02/16/2029 (aa) | EUR | 9,350 | 9,531 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 1.90%), 4.80%, 01/17/2029 (aa) | EUR | 5,000 | 5,271 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.85%), 5.85%, 11/15/2027 (aa) | EUR | 6,500 | 7,013 | |||||
United Overseas Bank Ltd., (Singapore), Reg. S, 0.01%, 12/01/2027 | EUR | 100 | 90 | |||||
US Bancorp, | ||||||||
0.85%, 06/07/2024 | EUR | 800 | 824 | |||||
(CMT Index 5 Year + 2.54%), 3.70%, 01/15/2027 (x) (aa) | 2,300 | 1,688 | ||||||
(United States SOFR + 1.66%), 4.55%, 07/22/2028 (aa) | 20 | 19 | ||||||
(United States SOFR + 1.23%), 4.65%, 02/01/2029 (aa) | 45 | 42 | ||||||
(United States SOFR + 1.43%), 5.73%, 10/21/2026 (aa) | 280 | 278 | ||||||
(United States SOFR + 2.02%), 5.78%, 06/12/2029 (aa) | 375 | 365 | ||||||
(United States SOFR + 2.26%), 5.84%, 06/12/2034 (aa) | 725 | 686 | ||||||
Valiant Bank AG, (Switzerland), Reg. S, 0.00%, 07/31/2029 | CHF | 50 | 49 | |||||
Virgin Money UK plc, (United Kingdom), | ||||||||
Reg. S, (SONIA Interest Rate Benchmark + 2.57%), 3.13%, 06/22/2025 (aa) | GBP | 1,000 | 1,180 | |||||
Reg. S, (UK Gilts 1 Year + 2.80%), 4.00%, 09/25/2026 (aa) | GBP | 200 | 229 | |||||
Reg. S, (UK Gilts 5 Year + 5.25%), 5.13%, 12/11/2030 (aa) | GBP | 1,000 | 1,146 | |||||
Wells Fargo & Co., | ||||||||
Reg. S, 1.00%, 02/02/2027 | EUR | 1,000 | 946 | |||||
Reg. S, 1.38%, 10/26/2026 | EUR | 1,000 | 968 | |||||
Reg. S, 2.00%, 04/27/2026 | EUR | 1,000 | 1,000 | |||||
Reg. S, 2.13%, 09/24/2031 | GBP | 1,000 | 919 | |||||
(CME Term SOFR 3 Month + 1.09%), 2.41%, 10/30/2025 (aa) | 92 | 88 | ||||||
Reg. S, 2.50%, 05/02/2029 | GBP | 1,500 | 1,514 | |||||
(United States SOFR + 2.53%), 3.07%, 04/30/2041 (aa) | 2,440 | 1,639 | ||||||
(CME Term SOFR 3 Month + 1.43%), 3.20%, 06/17/2027 (aa) | 1,590 | 1,477 | ||||||
Reg. S, (SONIA Interest Rate Benchmark + 1.28%), 3.47%, 04/26/2028 (aa) | GBP | 1,000 | 1,106 | |||||
Reg. S, 3.50%, 09/12/2029 | GBP | 1,500 | 1,590 | |||||
(United States SOFR + 1.51%), 3.53%, 03/24/2028 (aa) | 370 | 340 | ||||||
3.90%, 05/01/2045 | 20 | 15 | ||||||
(United States SOFR + 1.32%), 3.91%, 04/25/2026 (aa) | 1,635 | 1,576 | ||||||
(United States SOFR + 1.56%), 4.54%, 08/15/2026 (aa) | 65 | 63 | ||||||
(United States SOFR + 2.13%), 4.61%, 04/25/2053 (aa) | 1,000 | 787 | ||||||
4.63%, 11/02/2035 | GBP | 1,500 | 1,618 | |||||
4.75%, 12/07/2046 | 95 | 74 | ||||||
(United States SOFR + 1.98%), 4.81%, 07/25/2028 (aa) | 1,360 | 1,298 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Banks continued | ||||||||
Reg. S, 4.88%, 11/29/2035 | GBP | 1,000 | 1,029 | |||||
(United States SOFR + 2.02%), 5.39%, 04/24/2034 (aa) | 940 | 879 | ||||||
(United States SOFR + 1.99%), 5.56%, 07/25/2034 (aa) | 3,595 | 3,403 | ||||||
(United States SOFR + 1.74%), 5.57%, 07/25/2029 (aa) | 1,590 | 1,553 | ||||||
5.61%, 01/15/2044 | 24 | 21 | ||||||
Westpac Banking Corp., (Australia), | ||||||||
Reg. S, 0.01%, 09/22/2028 | EUR | 100 | 87 | |||||
Reg. S, 0.88%, 04/17/2027 | EUR | 1,000 | 949 | |||||
Reg. S, 1.08%, 04/05/2027 | EUR | 100 | 96 | |||||
Westpac Securities NZ Ltd., (New Zealand), | ||||||||
Reg. S, 0.43%, 12/14/2026 | EUR | 2,500 | 2,337 | |||||
Reg. S, 3.75%, 04/20/2028 | EUR | 100 | 105 | |||||
Wirtschafts- und Infrastrukturbank Hessen, (Germany), 0.88%, 06/14/2028 | EUR | 100 | 94 | |||||
Zuercher Kantonalbank, (Switzerland), Series 150, Reg. S, 0.10%, 03/31/2031 | CHF | 240 | 229 | |||||
|
|
|||||||
1,331,229 | ||||||||
|
|
|||||||
Diversified Financial Services 0.9% | ||||||||
Aareal Bank AG, (Germany), | ||||||||
Reg. S, 3.13%, 02/13/2026 | EUR | 100 | 104 | |||||
Reg. S, 4.50%, 07/25/2025 | EUR | 2,300 | 2,404 | |||||
Series 236, Reg. S, 0.01%, 02/01/2028 | EUR | 100 | 90 | |||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), | ||||||||
2.45%, 10/29/2026 | 650 | 583 | ||||||
4.63%, 10/15/2027 | 190 | 178 | ||||||
Affordable Housing Finance plc, (United Kingdom), Reg. S, 2.89%, 08/11/2043 | GBP | 100 | 88 | |||||
American Express Co., | ||||||||
2.25%, 03/04/2025 | 16 | 15 | ||||||
3.95%, 08/01/2025 | 370 | 358 | ||||||
4.90%, 02/13/2026 | 120 | 118 | ||||||
(United States SOFR + 1.00%), 4.99%, 05/01/2026 (aa) | 250 | 245 | ||||||
(United States SOFR + 1.84%), 5.04%, 05/01/2034 (aa) | 550 | 507 | ||||||
(United States SOFR + 1.28%), 5.28%, 07/27/2029 (aa) | 3,500 | 3,413 | ||||||
(United States SOFR + 1.93%), 5.63%, 07/28/2034 (aa) | 145 | 137 | ||||||
Ameriprise Financial, Inc., 5.15%, 05/15/2033 | 580 | 548 | ||||||
Arkea Home Loans SFH SA, (France), Reg. S, 3.25%, 08/01/2033 | EUR | 100 | 101 | |||||
Artesian Finance II plc, (United Kingdom), 6.00%, 09/30/2033 | GBP | 30 | 37 | |||||
Aspire Defence Finance plc, (United Kingdom), Series B, 4.67%, 03/31/2040 | GBP | 40 | 45 | |||||
AXA Bank Europe SCF, (France), | ||||||||
Reg. S, 0.01%, 01/22/2027 | EUR | 100 | 94 | |||||
Reg. S, 0.50%, 04/18/2025 | EUR | 100 | 100 | |||||
AyT Cedulas Cajas X Fondo de Titulizacion de Activos, (Spain), Series X, 3.75%, 06/30/2025 | EUR | 100 | 105 | |||||
BNP Paribas Home Loan SFH SA, (France), | ||||||||
Reg. S, 3.00%, 05/25/2028 | EUR | 100 | 103 | |||||
Reg. S, 3.00%, 01/31/2030 | EUR | 100 | 102 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Diversified Financial Services continued | ||||||||
BPCE SFH SA, (France), | ||||||||
Reg. S, 0.01%, 01/21/2027 | EUR | 100 | 94 | |||||
Reg. S, 0.01%, 10/16/2028 | EUR | 100 | 88 | |||||
Reg. S, 0.01%, 01/29/2036 | EUR | 100 | 67 | |||||
Reg. S, 0.13%, 12/03/2030 | EUR | 100 | 82 | |||||
Reg. S, 0.63%, 09/22/2027 | EUR | 100 | 94 | |||||
Reg. S, 0.75%, 09/02/2025 | EUR | 100 | 100 | |||||
Reg. S, 1.13%, 04/12/2030 | EUR | 100 | 90 | |||||
Reg. S, 1.75%, 05/27/2032 | EUR | 100 | 91 | |||||
Caisse de Refinancement de lHabitat SA, (France), | ||||||||
Reg. S, 0.01%, 10/08/2029 | EUR | 100 | 86 | |||||
Reg. S, 0.13%, 04/30/2027 | EUR | 100 | 93 | |||||
Cantor Fitzgerald LP, 4.50%, 04/14/2027 (e) | 2,055 | 1,914 | ||||||
Capital One Financial Corp., | ||||||||
0.80%, 06/12/2024 | EUR | 825 | 848 | |||||
(United States SOFR + 2.64%), 6.31%, 06/08/2029 (aa) | 170 | 166 | ||||||
Cboe Global Markets, Inc., | ||||||||
1.63%, 12/15/2030 | 361 | 276 | ||||||
3.65%, 01/12/2027 | 505 | 479 | ||||||
Cedulas TDA 6 Fondo de Titulizacion de Activos, (Spain), Series A6, 3.88%, 05/23/2025 | EUR | 100 | 105 | |||||
Charles Schwab Corp. (The), | ||||||||
1.15%, 05/13/2026 | 390 | 346 | ||||||
5.88%, 08/24/2026 | 200 | 199 | ||||||
CI Financial Corp., (Canada), 4.10%, 06/15/2051 | 305 | 176 | ||||||
CME Group, Inc., 2.65%, 03/15/2032 | 203 | 165 | ||||||
Credit Agricole Home Loan SFH SA, (France), | ||||||||
Reg. S, 0.01%, 04/12/2028 | EUR | 4,200 | 3,776 | |||||
Reg. S, 0.01%, 11/03/2031 | EUR | 100 | 79 | |||||
Reg. S, 0.13%, 12/16/2024 | EUR | 100 | 101 | |||||
Reg. S, 0.88%, 08/11/2028 | EUR | 100 | 93 | |||||
Reg. S, 0.88%, 05/06/2034 | EUR | 100 | 79 | |||||
Reg. S, 2.13%, 01/07/2030 | EUR | 100 | 97 | |||||
Credit Agricole Public Sector SCF SA, (France), Reg. S, 0.88%, 08/02/2027 | EUR | 100 | 95 | |||||
Credit Mutuel Home Loan SFH SA, (France), | ||||||||
Reg. S, 0.01%, 07/20/2028 | EUR | 5,000 | 4,457 | |||||
Reg. S, 0.75%, 09/15/2027 | EUR | 100 | 95 | |||||
Reg. S, 0.88%, 03/04/2032 | EUR | 100 | 84 | |||||
Reg. S, 1.00%, 01/30/2029 | EUR | 100 | 92 | |||||
Reg. S, 2.38%, 02/08/2028 | EUR | 100 | 100 | |||||
Discover Financial Services, 4.10%, 02/09/2027 | 221 | 202 | ||||||
HSBC SFH France SA, (France), Reg. S, 0.75%, 03/22/2027 | EUR | 100 | 96 | |||||
IG Group Holdings plc, (United Kingdom), Reg. S, 3.13%, 11/18/2028 | GBP | 4,000 | 3,925 | |||||
Intercontinental Exchange, Inc., | ||||||||
3.00%, 09/15/2060 | 215 | 122 | ||||||
3.65%, 05/23/2025 | 20 | 20 | ||||||
5.20%, 06/15/2062 | 140 | 122 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Diversified Financial Services continued | ||||||||
Jefferies Financial Group, Inc., | ||||||||
2.63%, 10/15/2031 | 1,250 | 950 | ||||||
2.75%, 10/15/2032 | 1,420 | 1,060 | ||||||
5.88%, 07/21/2028 | 1,445 | 1,415 | ||||||
Jyske Realkredit A/S, (Denmark), | ||||||||
Reg. S, 3.25%, 07/01/2030 | EUR | 100 | 103 | |||||
Series 32IE, Reg. S, 1.00%, 04/01/2025 | DKK | 400 | 54 | |||||
Series CCE, Reg. S, 1.00%, 10/01/2024 | DKK | 100 | 14 | |||||
La Banque Postale Home Loan SFH SA, (France), | ||||||||
Reg. S, 1.00%, 10/04/2028 | EUR | 100 | 93 | |||||
Reg. S, 3.00%, 01/31/2031 | EUR | 100 | 102 | |||||
Lansforsakringar Hypotek AB, (Sweden), | ||||||||
Reg. S, 1.38%, 05/31/2027 | EUR | 100 | 97 | |||||
Series 518, Reg. S, 1.25%, 09/17/2025 | SEK | 1,000 | 87 | |||||
Series 519, Reg. S, 1.50%, 09/16/2026 | SEK | 900 | 77 | |||||
Series 520, Reg. S, 1.00%, 09/15/2027 | SEK | 1,000 | 81 | |||||
Series 521, Reg. S, 0.50%, 09/20/2028 | SEK | 700 | 54 | |||||
LeasePlan Corp. NV, (Netherlands), Reg. S, 2.13%, 05/06/2025 | EUR | 3,000 | 3,064 | |||||
London Stock Exchange Group plc, (United Kingdom), | ||||||||
Reg. S, 1.63%, 04/06/2030 | GBP | 2,000 | 1,949 | |||||
Reg. S, 1.75%, 12/06/2027 | EUR | 800 | 775 | |||||
Lseg Netherlands BV, (Netherlands), | ||||||||
Reg. S, 0.00%, 04/06/2025 | EUR | 1,500 | 1,490 | |||||
Reg. S, 0.75%, 04/06/2033 | EUR | 1,000 | 775 | |||||
Mastercard, Inc., | ||||||||
1.00%, 02/22/2029 | EUR | 6,200 | 5,676 | |||||
2.10%, 12/01/2027 | EUR | 8,025 | 8,006 | |||||
2.95%, 06/01/2029 | 710 | 632 | ||||||
3.30%, 03/26/2027 | 80 | 75 | ||||||
3.35%, 03/26/2030 | 105 | 94 | ||||||
3.85%, 03/26/2050 | 160 | 123 | ||||||
4.88%, 03/09/2028 | 190 | 189 | ||||||
Nasdaq, Inc., | ||||||||
1.75%, 03/28/2029 | EUR | 2,300 | 2,138 | |||||
5.35%, 06/28/2028 | 100 | 98 | ||||||
Nomura Holdings, Inc., (Japan), | ||||||||
1.85%, 07/16/2025 | 1,955 | 1,809 | ||||||
2.17%, 07/14/2028 | 1,500 | 1,245 | ||||||
2.61%, 07/14/2031 | 1,255 | 960 | ||||||
3.00%, 01/22/2032 | 1,320 | 1,023 | ||||||
5.10%, 07/03/2025 | 2,700 | 2,649 | ||||||
6.07%, 07/12/2028 | 1,625 | 1,607 | ||||||
Nordea Kredit Realkreditaktieselskab, (Denmark), | ||||||||
Reg. S, 1.00%, 10/01/2024 (e) | DKK | 300 | 41 | |||||
Reg. S, 1.00%, 04/01/2026 (e) | DKK | 250 | 33 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Diversified Financial Services continued | ||||||||
1.00%, 10/01/2026 | DKK | 500 | 66 | |||||
Series CC2, Reg. S, 1.00%, 04/01/2025 (e) | DKK | 200 | 27 | |||||
Series CC2, Reg. S, 1.00%, 04/01/2027 (e) | DKK | 500 | 65 | |||||
OSB Group plc, (United Kingdom), Reg. S, (UK Gilts 1 Year + 4.99%), 9.50%, 09/07/2028 (aa) | GBP | 3,400 | 4,189 | |||||
Private Export Funding Corp., | ||||||||
0.55%, 07/30/2024 (e) | 300 | 288 | ||||||
Series PP, 1.40%, 07/15/2028 | 775 | 665 | ||||||
Programa Cedulas TDA Fondo de Titulizacion de Activos, (Spain), Series A6, 4.25%, 04/10/2031 | EUR | 100 | 109 | |||||
Prs Finance plc, (United Kingdom), | ||||||||
Reg. S, 1.75%, 11/24/2026 | GBP | 189 | 209 | |||||
Reg. S, 2.00%, 01/23/2029 | GBP | 500 | 528 | |||||
Realkredit Danmark A/S, (Denmark), | ||||||||
Series 10f, Reg. S, 1.00%, 01/01/2025 (e) | DKK | 700 | 96 | |||||
Series 10F, Reg. S, 1.00%, 01/01/2026 (e) | DKK | 1,000 | 134 | |||||
Series 22S, Reg. S, 0.00%, 10/01/2040 (e) | DKK | 42 | 4 | |||||
Societe Generale SFH SA, (France), | ||||||||
Reg. S, 0.50%, 06/02/2025 | EUR | 100 | 100 | |||||
Reg. S, 0.50%, 01/28/2026 | EUR | 100 | 98 | |||||
Reg. S, 1.38%, 05/05/2028 | EUR | 100 | 96 | |||||
Reg. S, 1.75%, 05/05/2034 | EUR | 200 | 175 | |||||
Sparebanken Vest Boligkreditt A/S, (Norway), Reg. S, 2.50%, 09/22/2027 | EUR | 100 | 101 | |||||
Swedbank Hypotek AB, (Sweden), | ||||||||
Reg. S, 0.05%, 05/28/2025 | EUR | 100 | 99 | |||||
Series 195, Reg. S, 1.00%, 06/18/2025 | SEK | 2,000 | 174 | |||||
Series 196, Reg. S, 1.00%, 03/18/2026 | SEK | 1,000 | 85 | |||||
Series 197, Reg. S, 1.00%, 03/17/2027 | SEK | 700 | 58 | |||||
Synchrony Financial, 2.88%, 10/28/2031 | 130 | 92 | ||||||
THFC Funding No. 1 plc, (United Kingdom), Reg. S, 5.13%, 12/21/2035 | GBP | 1,370 | 1,573 | |||||
TP ICAP Finance plc, (United Kingdom), Reg. S, 5.25%, 05/29/2026 | GBP | 2,000 | 2,302 | |||||
Visa, Inc., | ||||||||
2.00%, 06/15/2029 | EUR | 4,100 | 3,943 | |||||
2.70%, 04/15/2040 | 130 | 91 | ||||||
3.65%, 09/15/2047 | 200 | 152 | ||||||
Wellcome Trust Finance plc, (United Kingdom), Reg. S, 4.63%, 07/25/2036 | GBP | 225 | 262 | |||||
Western Union Co. (The), 1.35%, 03/15/2026 | 620 | 553 | ||||||
|
|
|||||||
83,641 | ||||||||
|
|
|||||||
Insurance 1.8% |
||||||||
Aflac, Inc., 4.75%, 01/15/2049 | 40 | 33 | ||||||
AIA Group Ltd., (Hong Kong), Reg. S, (EUR Swap Rate 5 Year + 1.10%), 0.88%, 09/09/2033 (aa) | EUR | 3,700 | 3,112 | |||||
Alleghany Corp., | ||||||||
3.25%, 08/15/2051 | 135 | 87 | ||||||
3.63%, 05/15/2030 | 15 | 14 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Insurance continued |
||||||||
Allianz Finance II BV, (Netherlands), | ||||||||
Reg. S, 0.50%, 11/22/2033 | EUR | 5,200 | 3,942 | |||||
Series 62, Reg. S, 4.50%, 03/13/2043 | GBP | 1,500 | 1,643 | |||||
Allianz SE, (Germany), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.65%), 2.24%, 07/07/2045 (aa) | EUR | 5,000 | 5,010 | |||||
Reg. S, (ICE EURIBOR Swap Rate 10 Year + 3.20%), 3.38%, 09/18/2024 (x) (aa) | EUR | 2,500 | 2,578 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.55%), 4.25%, 07/05/2052 (aa) | EUR | 6,000 | 5,764 | |||||
American International Group, Inc., 1.88%, 06/21/2027 | EUR | 1,000 | 968 | |||||
Aon Corp., 2.80%, 05/15/2030 | 50 | 42 | ||||||
Aon Corp. / Aon Global Holdings PLC, | ||||||||
2.90%, 08/23/2051 | 20 | 12 | ||||||
3.90%, 02/28/2052 | 143 | 102 | ||||||
Aon Global Ltd., (United Kingdom), 4.60%, 06/14/2044 | 10 | 8 | ||||||
Aquarius & Investments plc for Zurich Insurance Co. Ltd., (Ireland), Reg. S, (ICE LIBOR EUR 3 Month + 3.45%), 4.25%, 10/02/2043 (aa) | EUR | 100 | 106 | |||||
Argentum Netherlands BV for Zurich Insurance Co. Ltd., (Netherlands), Reg. S, (ICE LIBOR EUR 3 Month + 3.20%), 2.75%, 02/19/2049 (aa) | EUR | 500 | 463 | |||||
Arthur J Gallagher & Co., | ||||||||
2.40%, 11/09/2031 | 300 | 230 | ||||||
3.05%, 03/09/2052 | 70 | 41 | ||||||
3.50%, 05/20/2051 | 150 | 97 | ||||||
5.75%, 03/02/2053 | 240 | 220 | ||||||
ASR Nederland NV, (Netherlands), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 4.00%), 3.38%, 05/02/2049 (aa) | EUR | 1,000 | 920 | |||||
Reg. S, (EUR Swap Rate 5 Year + 4.95%), 5.00%, 09/30/2024 (x) (aa) | EUR | 1,000 | 1,039 | |||||
Reg. S, (EUR Swap Rate 5 Year + 5.20%), 5.13%, 09/29/2045 (aa) | EUR | 1,000 | 1,038 | |||||
Assicurazioni Generali SpA, (Italy), | ||||||||
Reg. S, 1.71%, 06/30/2032 | EUR | 1,000 | 790 | |||||
Reg. S, 2.43%, 07/14/2031 | EUR | 1,000 | 856 | |||||
Reg. S, 4.13%, 05/04/2026 | EUR | 100 | 105 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 4.50%), 4.60%, 11/21/2025 (x) (aa) | EUR | 770 | 794 | |||||
Assured Guaranty US Holdings, Inc., 6.13%, 09/15/2028 | 500 | 500 | ||||||
Athene Global Funding, | ||||||||
Reg. S, 1.24%, 04/08/2024 | EUR | 1,300 | 1,348 | |||||
2.50%, 01/14/2025 (e) | 20 | 19 | ||||||
Athene Holding Ltd., (Bermuda), 3.95%, 05/25/2051 | 55 | 36 | ||||||
Aviva plc, (United Kingdom), | ||||||||
Reg. S, 1.88%, 11/13/2027 | EUR | 500 | 492 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.55%), 3.38%, 12/04/2045 (aa) | EUR | 1,000 | 1,008 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.48%), 3.88%, 07/03/2044 (aa) | EUR | 1,000 | 1,041 | |||||
Reg. S, (UK Gilts 5 Year + 4.70%), 4.00%, 06/03/2055 (aa) | GBP | 825 | 754 | |||||
Reg. S, (UK Gilts 5 Year + 2.85%), 6.13%, 11/14/2036 (aa) | GBP | 430 | 521 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Insurance continued | ||||||||
AXA SA, (France), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.40%), 1.38%, 10/07/2041 (aa) | EUR | 1,225 | 982 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.75%), 3.38%, 07/06/2047 (aa) | EUR | 1,900 | 1,893 | |||||
Reg. S, (EUR Swap Rate 11 Year + 3.25%), 3.88%, 10/08/2025 (x) (aa) | EUR | 5,000 | 5,117 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.60%), 4.25%, 03/10/2043 (aa) | EUR | 1,200 | 1,142 | |||||
Reg. S, (SONIA Interest Rate Benchmark + 2.87%), 6.69%, 07/06/2026 (x) (aa) | GBP | 375 | 452 | |||||
Berkshire Hathaway Finance Corp., | ||||||||
1.50%, 03/18/2030 | EUR | 2,200 | 1,992 | |||||
2.38%, 06/19/2039 | GBP | 825 | 673 | |||||
2.85%, 10/15/2050 | 15 | 9 | ||||||
3.85%, 03/15/2052 | 395 | 294 | ||||||
4.20%, 08/15/2048 | 25 | 21 | ||||||
Berkshire Hathaway, Inc., | ||||||||
0.00%, 03/12/2025 | EUR | 1,900 | 1,898 | |||||
2.15%, 03/15/2028 | EUR | 1,000 | 985 | |||||
BNP Paribas Cardif SA, (France), | ||||||||
Reg. S, 1.00%, 11/29/2024 | EUR | 1,000 | 1,014 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.93%), 4.03%, 11/25/2025 (x) (aa) | EUR | 6,000 | 6,099 | |||||
Brown & Brown, Inc., 4.95%, 03/17/2052 | 220 | 175 | ||||||
Caisse Nationale de Reassurance Mutuelle Agricole Groupama, (France), Reg. S, 0.75%, 07/07/2028 | EUR | 4,900 | 4,287 | |||||
Chubb INA Holdings, Inc., | ||||||||
0.88%, 12/15/2029 | EUR | 1,000 | 866 | |||||
1.40%, 06/15/2031 | EUR | 1,000 | 855 | |||||
1.55%, 03/15/2028 | EUR | 3,000 | 2,843 | |||||
Cloverie PLC for Zurich Insurance Co. Ltd., (Ireland), | ||||||||
Reg. S, 1.50%, 12/15/2028 | EUR | 1,000 | 942 | |||||
Reg. S, 1.75%, 09/16/2024 | EUR | 500 | 516 | |||||
CNA Financial Corp., 2.05%, 08/15/2030 | 2,500 | 1,952 | ||||||
CNP Assurances SACA, (France), | ||||||||
Reg. S, 0.38%, 03/08/2028 | EUR | 100 | 87 | |||||
Reg. S, 1.25%, 01/27/2029 | EUR | 700 | 610 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.65%), 2.50%, 06/30/2051 (aa) | EUR | 1,000 | 840 | |||||
Corebridge Financial, Inc., | ||||||||
3.50%, 04/04/2025 | 40 | 38 | ||||||
4.35%, 04/05/2042 | 155 | 117 | ||||||
Credit Agricole Assurances SA, (France), | ||||||||
Reg. S, 2.00%, 07/17/2030 | EUR | 5,000 | 4,239 | |||||
Reg. S, (EUR Swap Rate 5 Year + 4.50%), 4.25%, 01/13/2025 (x) (aa) | EUR | 3,000 | 3,085 | |||||
Reg. S, (EUR Swap Rate 5 Year + 4.35%), 4.50%, 10/14/2025 (x) (aa) | EUR | 100 | 102 | |||||
Enstar Group Ltd., (Bermuda), | ||||||||
3.10%, 09/01/2031 | 611 | 461 | ||||||
4.95%, 06/01/2029 | 10 | 9 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Insurance continued | ||||||||
Everest Reinsurance Holdings, Inc., | ||||||||
3.13%, 10/15/2052 | 82 | 49 | ||||||
3.50%, 10/15/2050 | 745 | 477 | ||||||
Fairfax Financial Holdings Ltd., (Canada), | ||||||||
3.38%, 03/03/2031 | 2,000 | 1,627 | ||||||
4.85%, 04/17/2028 | 375 | 355 | ||||||
5.63%, 08/16/2032 | 1,440 | 1,346 | ||||||
Hannover Rueck SE, (Germany), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.38%), 1.13%, 10/09/2039 (aa) | EUR | 1,000 | 831 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.75%), 5.88%, 08/26/2043 (aa) | EUR | 4,600 | 4,950 | |||||
Jackson Financial, Inc., 4.00%, 11/23/2051 | 5 | 3 | ||||||
Legal & General Finance plc, (United Kingdom), Reg. S, 5.88%, 04/05/2033 | GBP | 425 | 525 | |||||
Legal & General Group plc, (United Kingdom), | ||||||||
Reg. S, (UK Gilts 5 Year + 5.25%), 4.50%, 11/01/2050 (aa) | GBP | 825 | 855 | |||||
Reg. S, (UK Gilts 5 Year + 4.65%), 5.13%, 11/14/2048 (aa) | GBP | 600 | 675 | |||||
Liberty Mutual Finance Europe DAC, (Ireland), Reg. S, 1.75%, 03/27/2024 | EUR | 2,000 | 2,083 | |||||
Liberty Mutual Group, Inc., | ||||||||
3.95%, 10/15/2050 (e) | 830 | 557 | ||||||
5.50%, 06/15/2052 (e) | 495 | 424 | ||||||
Loews Corp., 3.20%, 05/15/2030 | 10 | 9 | ||||||
M&G plc, (United Kingdom), Reg. S, (UK Gilts 5 Year + 4.16%), 5.56%, 07/20/2055 (aa) | GBP | 825 | 856 | |||||
Markel Group, Inc., 3.45%, 05/07/2052 | 1,000 | 635 | ||||||
Marsh & McLennan Cos., Inc., | ||||||||
1.98%, 03/21/2030 | EUR | 5,050 | 4,672 | |||||
2.90%, 12/15/2051 | 780 | 465 | ||||||
4.20%, 03/01/2048 | 850 | 656 | ||||||
4.75%, 03/15/2039 | 179 | 157 | ||||||
4.90%, 03/15/2049 | 290 | 251 | ||||||
MetLife, Inc., | ||||||||
Reg. S, 5.38%, 12/09/2024 | GBP | 1,000 | 1,209 | |||||
5.38%, 07/15/2033 | 500 | 481 | ||||||
Metropolitan Life Global Funding I, | ||||||||
Reg. S, 0.50%, 05/25/2029 | EUR | 500 | 431 | |||||
Reg. S, 0.55%, 06/16/2027 | EUR | 1,475 | 1,377 | |||||
Reg. S, 0.63%, 12/08/2027 | GBP | 1,000 | 1,000 | |||||
Reg. S, 1.63%, 10/12/2028 | GBP | 1,000 | 1,012 | |||||
Reg. S, 1.63%, 09/21/2029 | GBP | 2,125 | 2,082 | |||||
Reg. S, 1.75%, 05/25/2025 | EUR | 1,000 | 1,017 | |||||
Reg. S, 3.50%, 09/30/2026 | GBP | 2,000 | 2,304 | |||||
Reg. S, 4.13%, 09/02/2025 | GBP | 1,000 | 1,186 | |||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, (Germany), | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.10%), 1.00%, 05/26/2042 (aa) | EUR | 15,800 | 11,899 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.55%), 1.25%, 05/26/2041 (aa) | EUR | 5,000 | 4,002 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Insurance continued | ||||||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.40%), 3.25%, 05/26/2049 (aa) | EUR | 2,000 | 1,914 | |||||
Mutuelle Assurance Des Commercants et Industriels de France et Des Cadres et Sal, (France), Reg. S, 0.63%, 06/21/2027 | EUR | 1,900 | 1,735 | |||||
New York Life Global Funding, Reg. S, 3.63%, 01/09/2030 | EUR | 9,625 | 9,906 | |||||
NN Group NV, (Netherlands), Reg. S, (ICE LIBOR EUR 3 Month + 4.00%), 4.50%, 01/15/2026 (x) (aa) | EUR | 1,350 | 1,379 | |||||
Old Republic International Corp., 3.85%, 06/11/2051 | 85 | 56 | ||||||
Pension Insurance Corp. plc, (United Kingdom), Reg. S, 5.63%, 09/20/2030 | GBP | 1,121 | 1,213 | |||||
Phoenix Group Holdings plc, (United Kingdom), Reg. S, 6.63%, 12/18/2025 | GBP | 425 | 517 | |||||
Principal Financial Group, Inc., | ||||||||
3.10%, 11/15/2026 | 1,400 | 1,296 | ||||||
5.50%, 03/15/2053 | 190 | 168 | ||||||
Progressive Corp. (The), | ||||||||
3.70%, 03/15/2052 | 150 | 106 | ||||||
4.13%, 04/15/2047 | 20 | 16 | ||||||
Prudential Funding Asia plc, (United Kingdom), 5.88%, 05/11/2029 | GBP | 1,500 | 1,840 | |||||
RenaissanceRe Holdings Ltd., (Bermuda), 5.75%, 06/05/2033 | 882 | 830 | ||||||
Sampo OYJ, (Finland), | ||||||||
Reg. S, 2.25%, 09/27/2030 | EUR | 1,000 | 986 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.60%), 2.50%, 09/03/2052 (aa) | EUR | 1,025 | 828 | |||||
SCOR SE, (France), Reg. S, (EUR Swap Rate 10 Year + 3.25%), 3.00%, 06/08/2046 (aa) | EUR | 5,600 | 5,581 | |||||
Talanx AG, (Germany), Reg. S, 4.00%, 10/25/2029 | EUR | 2,500 | 2,626 | |||||
Travelers Cos., Inc. (The), 5.45%, 05/25/2053 | 140 | 133 | ||||||
UNIQA Insurance Group AG, (Austria), | ||||||||
Reg. S, 1.38%, 07/09/2030 | EUR | 500 | 436 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 3.35%), 2.38%, 12/09/2041 (aa) | EUR | 500 | 386 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 5.82%), 6.00%, 07/27/2046 (aa) | EUR | 500 | 534 | |||||
Unum Group, | ||||||||
4.00%, 06/15/2029 | 2,105 | 1,894 | ||||||
4.13%, 06/15/2051 | 980 | 643 | ||||||
5.75%, 08/15/2042 | 25 | 22 | ||||||
W R Berkley Corp., 4.00%, 05/12/2050 | 700 | 494 | ||||||
Zurich Finance Ireland Designated Activity Co., (Ireland), | ||||||||
Reg. S, 1.63%, 06/17/2039 | EUR | 500 | 372 | |||||
Reg. S, (UK Gilts 5 Year + 4.10%), 5.13%, 11/23/2052 (aa) | GBP | 5,625 | 6,054 | |||||
|
|
|||||||
172,751 | ||||||||
|
|
|||||||
Investment Companies 0.1% | ||||||||
Ares Capital Corp., 2.15%, 07/15/2026 | 385 | 338 | ||||||
Barings BDC, Inc., 3.30%, 11/23/2026 | 20 | 18 | ||||||
Blackstone Private Credit Fund, 3.25%, 03/15/2027 | 195 | 169 | ||||||
Blackstone Secured Lending Fund, 2.85%, 09/30/2028 | 23 | 19 | ||||||
Blue Owl Capital Corp., 2.88%, 06/11/2028 | 265 | 218 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Investment Companies continued | ||||||||
FS KKR Capital Corp., | ||||||||
2.63%, 01/15/2027 | 275 | 235 | ||||||
3.13%, 10/12/2028 | 255 | 208 | ||||||
Golub Capital BDC, Inc., 2.50%, 08/24/2026 | 5 | 4 | ||||||
Investor AB, (Sweden), | ||||||||
Reg. S, 0.38%, 10/29/2035 | EUR | 425 | 289 | |||||
Reg. S, 1.50%, 09/12/2030 | EUR | 700 | 631 | |||||
Reg. S, 2.75%, 06/10/2032 | EUR | 1,000 | 955 | |||||
Main Street Capital Corp., 3.00%, 07/14/2026 | 165 | 146 | ||||||
MDGH GMTN RSC Ltd., (United Arab Emirates), | ||||||||
Reg. S, 0.38%, 03/10/2027 | EUR | 1,000 | 933 | |||||
Reg. S, 1.00%, 03/10/2034 | EUR | 600 | 456 | |||||
Oaktree Specialty Lending Corp., 7.10%, 02/15/2029 | 300 | 290 | ||||||
Temasek Financial I Ltd., (Singapore), | ||||||||
Reg. S, 1.50%, 03/01/2028 | EUR | 4,300 | 4,118 | |||||
Reg. S, 3.25%, 02/15/2027 | EUR | 1,000 | 1,040 | |||||
Wendel SE, (France), Reg. S, 1.00%, 06/01/2031 | EUR | 4,400 | 3,570 | |||||
|
|
|||||||
13,637 | ||||||||
|
|
|||||||
Private Equity 0.2% | ||||||||
3i Group plc, (United Kingdom), | ||||||||
Reg. S, 4.88%, 06/14/2029 | EUR | 16,925 | 17,417 | |||||
Reg. S, 5.75%, 12/03/2032 | GBP | 350 | 420 | |||||
Intermediate Capital Group plc, (United Kingdom), | ||||||||
Reg. S, 1.63%, 02/17/2027 | EUR | 1,000 | 924 | |||||
Reg. S, 2.50%, 01/28/2030 | EUR | 1,500 | 1,232 | |||||
|
|
|||||||
19,993 | ||||||||
|
|
|||||||
Real Estate 0.8% | ||||||||
Affinity Sutton Capital Markets plc, (United Kingdom), Reg. S, 5.98%, 09/17/2038 | GBP | 1,000 | 1,207 | |||||
Akelius Residential Property Financing BV, (Netherlands), | ||||||||
Reg. S, 0.75%, 02/22/2030 | EUR | 2,000 | 1,542 | |||||
Reg. S, 1.00%, 01/17/2028 | EUR | 1,000 | 865 | |||||
Aroundtown SA, (Luxembourg), Reg. S, 0.00%, 07/16/2026 | EUR | 3,800 | 3,229 | |||||
Balder Finland OYJ, (Finland), | ||||||||
Reg. S, 1.00%, 01/18/2027 | EUR | 2,000 | 1,693 | |||||
Reg. S, 1.00%, 01/20/2029 | EUR | 1,000 | 716 | |||||
Reg. S, 2.00%, 01/18/2031 | EUR | 9,400 | 6,410 | |||||
Blackstone Property Partners Europe Holdings Sarl, (Luxembourg), | ||||||||
Reg. S, 1.63%, 04/20/2030 | EUR | 1,000 | 783 | |||||
Reg. S, 1.75%, 03/12/2029 | EUR | 2,500 | 2,070 | |||||
Reg. S, 2.00%, 02/15/2024 | EUR | 500 | 522 | |||||
Reg. S, 2.63%, 10/20/2028 | GBP | 1,075 | 1,014 | |||||
Broadgate Financing plc, (United Kingdom), Series A4, Reg. S, 4.82%, 07/05/2033 | GBP | 50 | 56 | |||||
CBRE Services, Inc., | ||||||||
2.50%, 04/01/2031 | 15 | 12 | ||||||
4.88%, 03/01/2026 | 20 | 19 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Real Estate continued | ||||||||
Clarion Funding plc, (United Kingdom), | ||||||||
Reg. S, 1.25%, 11/13/2032 | GBP | 1,000 | 836 | |||||
Reg. S, 1.88%, 09/07/2051 | GBP | 500 | 269 | |||||
Reg. S, 2.63%, 01/18/2029 | GBP | 200 | 210 | |||||
CPI Property Group SA, (Luxembourg), | ||||||||
Reg. S, 1.50%, 01/27/2031 | EUR | 2,000 | 1,175 | |||||
Reg. S, 1.75%, 01/14/2030 | EUR | 1,000 | 660 | |||||
Reg. S, 2.75%, 01/22/2028 | GBP | 1,800 | 1,546 | |||||
CTP NV, (Netherlands), | ||||||||
Reg. S, 0.50%, 06/21/2025 | EUR | 2,865 | 2,761 | |||||
Reg. S, 0.63%, 11/27/2023 | EUR | 750 | 786 | |||||
Reg. S, 0.63%, 09/27/2026 | EUR | 3,500 | 3,144 | |||||
Reg. S, 0.88%, 01/20/2026 | EUR | 1,000 | 939 | |||||
Reg. S, 1.25%, 06/21/2029 | EUR | 600 | 475 | |||||
Reg. S, 1.50%, 09/27/2031 | EUR | 2,500 | 1,862 | |||||
Deutsche Wohnen SE, (Germany), | ||||||||
Reg. S, 0.50%, 04/07/2031 | EUR | 500 | 400 | |||||
Reg. S, 1.00%, 04/30/2025 | EUR | 2,000 | 1,987 | |||||
Reg. S, 1.30%, 04/07/2041 | EUR | 500 | 304 | |||||
Reg. S, 1.50%, 04/30/2030 | EUR | 2,000 | 1,754 | |||||
Fastighets AB Balder, (Sweden), | ||||||||
Reg. S, 1.13%, 01/29/2027 | EUR | 4,000 | 3,367 | |||||
Reg. S, 1.88%, 01/23/2026 | EUR | 2,000 | 1,856 | |||||
Heimstaden Bostad AB, (Sweden), Reg. S, 1.13%, 01/21/2026 | EUR | 1,200 | 1,081 | |||||
Hexagon Housing Association Ltd., (United Kingdom), Reg. S, 3.63%, 04/22/2048 | GBP | 1,000 | 793 | |||||
HOWOGE Wohnungsbaugesellschaft mbH, (Germany), Reg. S, 1.13%, 11/01/2033 | EUR | 100 | 75 | |||||
Kojamo OYJ, (Finland), | ||||||||
Reg. S, 0.88%, 05/28/2029 | EUR | 1,000 | 767 | |||||
Reg. S, 2.00%, 03/31/2026 | EUR | 1,000 | 956 | |||||
Logicor 2019-1 UK plc, (United Kingdom), Reg. S, 1.88%, 11/17/2026 | GBP | 825 | 889 | |||||
Logicor Financing Sarl, (Luxembourg), | ||||||||
Reg. S, 0.75%, 07/15/2024 | EUR | 1,500 | 1,529 | |||||
Reg. S, 0.88%, 01/14/2031 | EUR | 400 | 289 | |||||
Reg. S, 1.50%, 07/13/2026 | EUR | 1,200 | 1,136 | |||||
Reg. S, 2.25%, 05/13/2025 | EUR | 2,000 | 2,005 | |||||
London & Quadrant Housing Trust, (United Kingdom), | ||||||||
Reg. S, 2.00%, 03/31/2032 | GBP | 1,000 | 909 | |||||
Reg. S, 2.00%, 10/20/2038 | GBP | 425 | 314 | |||||
Reg. S, 2.63%, 02/28/2028 | GBP | 1,225 | 1,311 | |||||
Reg. S, 2.75%, 07/20/2057 | GBP | 425 | 274 | |||||
Reg. S, 3.13%, 02/28/2053 | GBP | 500 | 365 | |||||
Meadowhall Finance plc, (United Kingdom), Series A1, Reg. S, 4.99%, 01/12/2032 | GBP | 26 | 28 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Real Estate continued | ||||||||
NE Property BV, (Netherlands), | ||||||||
Reg. S, 1.75%, 11/23/2024 | EUR | 500 | 507 | |||||
Reg. S, 1.88%, 10/09/2026 | EUR | 1,000 | 936 | |||||
Reg. S, 2.00%, 01/20/2030 | EUR | 500 | 404 | |||||
Reg. S, 3.38%, 07/14/2027 | EUR | 500 | 487 | |||||
Notting Hill Genesis, (United Kingdom), | ||||||||
Reg. S, 2.00%, 06/03/2036 | GBP | 2,800 | 2,223 | |||||
Reg. S, 3.25%, 10/12/2048 | GBP | 1,000 | 770 | |||||
Reg. S, 4.38%, 02/20/2054 | GBP | 500 | 462 | |||||
Reg. S, 5.25%, 07/07/2042 | GBP | 1,000 | 1,095 | |||||
Ontario Teachers Cadillac Fairview Properties Trust, (Canada), | ||||||||
2.50%, 10/15/2031 (e) | 580 | 438 | ||||||
4.13%, 02/01/2029 (e) | 2,100 | 1,877 | ||||||
Optivo Finance plc, (United Kingdom), | ||||||||
Reg. S, 3.28%, 03/22/2048 | GBP | 2,000 | 1,554 | |||||
Reg. S, 5.25%, 03/13/2043 | GBP | 1,000 | 1,091 | |||||
Orbit Capital plc, (United Kingdom), Reg. S, 3.38%, 06/14/2048 | GBP | 1,325 | 1,055 | |||||
P3 Group Sarl, (Luxembourg), Reg. S, 0.88%, 01/26/2026 | EUR | 490 | 460 | |||||
Sagax AB, (Sweden), Reg. S, 2.25%, 03/13/2025 | EUR | 1,000 | 1,012 | |||||
Sagax Euro Mtn NL BV, (Netherlands), Reg. S, 1.63%, 02/24/2026 | EUR | 1,000 | 974 | |||||
Sinochem Offshore Capital Co. Ltd., (British Virgin Islands), Reg. S, 0.75%, 11/25/2025 | EUR | 1,000 | 960 | |||||
Telereal Securitisation plc, (United Kingdom), Series B4, 6.16%, 12/10/2031 | GBP | 42 | 50 | |||||
Tesco Property Finance 1 plc, (United Kingdom), Reg. S, 7.62%, 07/13/2039 | GBP | 78 | 102 | |||||
Trafford Centre Finance Ltd. (The), (Cayman Islands), Series A2, Reg. S, 6.50%, 07/28/2033 | GBP | 32 | 38 | |||||
Vonovia Finance BV, (Netherlands), | ||||||||
Reg. S, 0.63%, 07/09/2026 | EUR | 300 | 286 | |||||
Reg. S, 1.00%, 01/28/2041 | EUR | 1,100 | 589 | |||||
Series DIP, Reg. S, 1.50%, 03/31/2025 | EUR | 2,000 | 2,026 | |||||
Vonovia SE, (Germany), Reg. S, 0.75%, 09/01/2032 | EUR | 1,700 | 1,238 | |||||
|
|
|||||||
77,824 | ||||||||
|
|
|||||||
REITS 0.9% | ||||||||
Aedifica SA, (Belgium), Reg. S, 0.75%, 09/09/2031 | EUR | 1,200 | 905 | |||||
Altarea SCA, (France), Reg. S, 1.75%, 01/16/2030 | EUR | 400 | 306 | |||||
American Tower Corp., | ||||||||
0.88%, 05/21/2029 | EUR | 1,000 | 861 | |||||
1.38%, 04/04/2025 | EUR | 2,050 | 2,076 | |||||
1.95%, 05/22/2026 | EUR | 1,000 | 994 | |||||
5.80%, 11/15/2028 | 300 | 298 | ||||||
Brixmor Operating Partnership LP, | ||||||||
4.05%, 07/01/2030 | 1,175 | 1,027 | ||||||
4.13%, 06/15/2026 | 2,300 | 2,167 | ||||||
4.13%, 05/15/2029 | 875 | 779 | ||||||
Carmila SA, (France), | ||||||||
Reg. S, 1.63%, 05/30/2027 | EUR | 1,000 | 954 | |||||
Reg. S, 2.38%, 09/16/2024 | EUR | 1,000 | 1,034 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
REITS continued | ||||||||
EPR Properties, | ||||||||
3.60%, 11/15/2031 | 790 | 586 | ||||||
3.75%, 08/15/2029 | 160 | 128 | ||||||
Equinix, Inc., | ||||||||
0.25%, 03/15/2027 | EUR | 3,900 | 3,600 | |||||
1.00%, 03/15/2033 | EUR | 3,500 | 2,729 | |||||
1.45%, 05/15/2026 | 200 | 178 | ||||||
2.63%, 11/18/2024 | 85 | 82 | ||||||
2.90%, 11/18/2026 | 200 | 184 | ||||||
GLP Capital LP / GLP Financing II, Inc., | ||||||||
3.25%, 01/15/2032 | 780 | 605 | ||||||
5.38%, 04/15/2026 | 1,500 | 1,455 | ||||||
5.75%, 06/01/2028 | 215 | 206 | ||||||
Goodman Australia Finance Pty Ltd., (Australia), Reg. S, 1.38%, 09/27/2025 | EUR | 2,758 | 2,729 | |||||
Hammerson Ireland Finance DAC, (Ireland), Reg. S, 1.75%, 06/03/2027 | EUR | 9,733 | 8,746 | |||||
Hammerson plc, (United Kingdom), Reg. S, 7.25%, 04/21/2028 | GBP | 1,400 | 1,626 | |||||
Healthpeak OP LLC, 3.00%, 01/15/2030 | 1,400 | 1,183 | ||||||
Host Hotels & Resorts LP, Series J, 2.90%, 12/15/2031 | 415 | 319 | ||||||
Kimco Realty OP LLC, 2.70%, 10/01/2030 | 1,900 | 1,528 | ||||||
Klepierre SA, (France), | ||||||||
Reg. S, 0.88%, 02/17/2031 | EUR | 1,000 | 808 | |||||
Reg. S, 1.63%, 12/13/2032 | EUR | 1,000 | 826 | |||||
Reg. S, 2.00%, 05/12/2029 | EUR | 1,000 | 934 | |||||
Mercialys SA, (France), | ||||||||
Reg. S, 1.80%, 02/27/2026 | EUR | 1,000 | 972 | |||||
Reg. S, 2.50%, 02/28/2029 | EUR | 2,000 | 1,771 | |||||
Merlin Properties Socimi SA, (Spain), | ||||||||
Reg. S, 1.38%, 06/01/2030 | EUR | 1,000 | 826 | |||||
Reg. S, 2.38%, 07/13/2027 | EUR | 1,000 | 980 | |||||
MPT Operating Partnership LP / MPT Finance Corp., 0.99%, 10/15/2026 | EUR | 1,650 | 1,234 | |||||
National Health Investors, Inc., 3.00%, 02/01/2031 | 231 | 169 | ||||||
Omega Healthcare Investors, Inc., | ||||||||
3.25%, 04/15/2033 | 155 | 113 | ||||||
4.50%, 04/01/2027 | 16 | 15 | ||||||
Praemia Healthcare SACA, (France), Reg. S, 5.50%, 09/19/2028 | EUR | 3,600 | 3,790 | |||||
Prologis Euro Finance LLC, 0.25%, 09/10/2027 | EUR | 2,725 | 2,478 | |||||
Prologis LP, | ||||||||
2.25%, 06/30/2029 | GBP | 1,600 | 1,616 | |||||
4.88%, 06/15/2028 | 150 | 146 | ||||||
5.25%, 06/15/2053 | 120 | 108 | ||||||
Public Storage Operating Co., | ||||||||
0.50%, 09/09/2030 | EUR | 1,500 | 1,214 | |||||
0.88%, 02/15/2026 | 50 | 45 | ||||||
1.50%, 11/09/2026 | 200 | 179 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
REITS continued | ||||||||
1.85%, 05/01/2028 | 300 | 257 | ||||||
1.95%, 11/09/2028 | 900 | 762 | ||||||
2.25%, 11/09/2031 | 165 | 129 | ||||||
2.30%, 05/01/2031 | 65 | 52 | ||||||
3.09%, 09/15/2027 | 110 | 101 | ||||||
3.39%, 05/01/2029 | 145 | 131 | ||||||
5.35%, 08/01/2053 | 75 | 68 | ||||||
Realty Income Corp., | ||||||||
1.63%, 12/15/2030 | GBP | 200 | 182 | |||||
1.75%, 07/13/2033 | GBP | 1,100 | 911 | |||||
3.10%, 12/15/2029 | 800 | 693 | ||||||
5.13%, 07/06/2034 | EUR | 1,700 | 1,781 | |||||
Scentre Group Trust 1 / Scentre Group Trust 2, (Australia), | ||||||||
Reg. S, 1.45%, 03/28/2029 | EUR | 2,000 | 1,754 | |||||
Reg. S, 1.75%, 04/11/2028 | EUR | 2,000 | 1,833 | |||||
Scentre Group Trust 1, (Australia), | ||||||||
Reg. S, 2.25%, 07/16/2024 | EUR | 2,000 | 2,069 | |||||
Reg. S, 3.88%, 07/16/2026 | GBP | 554 | 634 | |||||
Simon International Finance SCA, (Luxembourg), Reg. S, 1.25%, 05/13/2025 | EUR | 2,325 | 2,336 | |||||
Simon Property Group LP, | ||||||||
1.38%, 01/15/2027 | 70 | 61 | ||||||
3.50%, 09/01/2025 | 50 | 48 | ||||||
5.85%, 03/08/2053 | 130 | 120 | ||||||
Tanger Properties LP, 2.75%, 09/01/2031 | 350 | 253 | ||||||
Ventas Realty LP, 4.13%, 01/15/2026 | 2,300 | 2,202 | ||||||
VICI Properties LP, | ||||||||
4.75%, 02/15/2028 | 485 | 454 | ||||||
4.95%, 02/15/2030 | 1,645 | 1,504 | ||||||
Welltower OP LLC, | ||||||||
2.75%, 01/15/2031 | 50 | 40 | ||||||
3.10%, 01/15/2030 | 2,400 | 2,032 | ||||||
4.50%, 01/15/2024 | 3,500 | 3,480 | ||||||
4.50%, 12/01/2034 | GBP | 300 | 303 | |||||
4.80%, 11/20/2028 | GBP | 1,650 | 1,885 | |||||
Weyerhaeuser Co., 4.00%, 04/15/2030 | 1,500 | 1,329 | ||||||
WP Carey, Inc., 2.25%, 04/01/2033 | 1,000 | 714 | ||||||
WPC Eurobond BV, (Netherlands), | ||||||||
0.95%, 06/01/2030 | EUR | 1,800 | 1,454 | |||||
1.35%, 04/15/2028 | EUR | 825 | 743 | |||||
2.13%, 04/15/2027 | EUR | 1,800 | 1,742 | |||||
|
|
|||||||
87,566 | ||||||||
|
|
|||||||
Savings & Loans 0.1% | ||||||||
Coventry Building Society, (United Kingdom), Reg. S, 2.63%, 12/07/2026 | EUR | 5,000 | 5,081 | |||||
Nationwide Building Society, (United Kingdom), | ||||||||
Reg. S, 0.25%, 07/22/2025 | EUR | 2,000 | 1,971 | |||||
Reg. S, 0.63%, 03/25/2027 | EUR | 100 | 95 | |||||
Reg. S, 5.63%, 01/28/2026 | GBP | 100 | 123 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Savings & Loans continued | ||||||||
Yorkshire Building Society, (United Kingdom), | ||||||||
Reg. S, 0.01%, 10/13/2027 | EUR | 100 | 91 | |||||
Reg. S, 0.01%, 11/16/2028 | EUR | 5,000 | 4,353 | |||||
|
|
|||||||
11,714 | ||||||||
|
|
|||||||
Total Financial | 1,798,355 | |||||||
|
|
|||||||
Government 3.1% | ||||||||
Multi-National 3.1% | ||||||||
African Development Bank, (Supranational), | ||||||||
0.25%, 11/21/2024 | EUR | 925 | 938 | |||||
0.50%, 03/22/2027 | EUR | 1,000 | 957 | |||||
0.50%, 03/21/2029 | EUR | 3,000 | 2,720 | |||||
0.88%, 05/24/2028 | EUR | 400 | 378 | |||||
2.25%, 09/14/2029 | EUR | 2,000 | 1,983 | |||||
Asian Development Bank, (Supranational), | ||||||||
Reg. S, 0.03%, 01/31/2030 | EUR | 3,550 | 3,052 | |||||
0.35%, 07/16/2025 | EUR | 700 | 698 | |||||
0.75%, 12/07/2027 | GBP | 5,000 | 5,172 | |||||
1.40%, 02/06/2037 | EUR | 7,000 | 5,709 | |||||
1.63%, 03/15/2024 | 100 | 98 | ||||||
1.95%, 07/22/2032 | EUR | 10,000 | 9,382 | |||||
2.00%, 01/22/2025 | 300 | 287 | ||||||
2.50%, 12/19/2024 | GBP | 2,000 | 2,354 | |||||
4.13%, 09/27/2024 | 2,140 | 2,110 | ||||||
6.22%, 08/15/2027 | 100 | 104 | ||||||
Asian Infrastructure Investment Bank (The), (Supranational), | ||||||||
0.50%, 10/30/2024 | 495 | 468 | ||||||
Reg. S, 4.38%, 06/11/2026 | GBP | 11,000 | 13,118 | |||||
4.88%, 09/14/2026 | 620 | 619 | ||||||
Corp. Andina de Fomento, (Supranational), | ||||||||
Reg. S, 0.25%, 02/04/2026 | EUR | 2,000 | 1,916 | |||||
Reg. S, 1.13%, 02/13/2025 | EUR | 10,000 | 10,094 | |||||
Council Of Europe Development Bank, (Supranational), | ||||||||
Reg. S, 0.00%, 04/09/2027 | EUR | 2,000 | 1,879 | |||||
Reg. S, 0.00%, 01/20/2031 | EUR | 5,000 | 4,152 | |||||
Reg. S, 0.25%, 01/19/2032 | EUR | 3,000 | 2,464 | |||||
Reg. S, 0.38%, 03/27/2025 | EUR | 175 | 176 | |||||
Reg. S, 0.63%, 01/30/2029 | EUR | 1,500 | 1,379 | |||||
Reg. S, 0.75%, 06/09/2025 | EUR | 50 | 50 | |||||
Erste Abwicklungsanstalt, (Germany), Reg. S, 0.01%, 11/03/2023 | EUR | 1,000 | 1,054 | |||||
Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial, (Supranational), | ||||||||
4.55%, 03/30/2027 | CAD | 300 | 217 | |||||
5.50%, 06/07/2032 | GBP | 300 | 378 | |||||
European Bank for Reconstruction & Development, (Supranational), 0.50%, 05/19/2025 | 135 | 125 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Multi-National continued | ||||||||
European Investment Bank, (Supranational), | ||||||||
0.00%, 03/15/2024 | EUR | 300 | 312 | |||||
Reg. S, 0.00%, 03/25/2025 | EUR | 5,000 | 5,015 | |||||
Reg. S, 0.00%, 03/13/2026 | EUR | 700 | 683 | |||||
Reg. S, 0.00%, 06/17/2027 | EUR | 1,500 | 1,406 | |||||
Reg. S, 0.00%, 09/28/2028 | EUR | 1,000 | 900 | |||||
Zero Coupon, 05/28/2037 (e) | CAD | 150 | 56 | |||||
Reg. S, 0.01%, 11/15/2035 | EUR | 4,200 | 2,913 | |||||
Reg. S, 0.01%, 05/15/2041 | EUR | 15,000 | 8,377 | |||||
Reg. S, 0.05%, 11/15/2029 | EUR | 10,000 | 8,707 | |||||
0.05%, 01/16/2030 | EUR | 17,900 | 15,492 | |||||
Reg. S, 0.05%, 10/13/2034 | EUR | 19,000 | 13,815 | |||||
Reg. S, 0.10%, 10/15/2026 | EUR | 5,000 | 4,807 | |||||
Reg. S, 0.13%, 12/14/2026 | GBP | 1,875 | 1,975 | |||||
Reg. S, 0.13%, 06/20/2029 | EUR | 6,000 | 5,317 | |||||
Reg. S, 0.25%, 06/15/2040 | EUR | 3,950 | 2,402 | |||||
0.38%, 07/16/2025 | EUR | 25,000 | 25,024 | |||||
0.38%, 03/26/2026 | 1,300 | 1,162 | ||||||
Reg. S, 0.38%, 04/14/2026 | EUR | 3,000 | 2,944 | |||||
0.50%, 01/15/2027 | EUR | 2,000 | 1,935 | |||||
Reg. S, 0.50%, 11/13/2037 | EUR | 2,000 | 1,396 | |||||
Reg. S, 0.88%, 05/15/2026 | GBP | 2,000 | 2,200 | |||||
0.88%, 09/13/2047 | EUR | 200 | 118 | |||||
Reg. S, 1.00%, 03/14/2031 | EUR | 20,000 | 17,931 | |||||
Reg. S, 1.00%, 04/14/2032 | EUR | 3,275 | 2,858 | |||||
Reg. S, 1.38%, 03/07/2025 | GBP | 100 | 116 | |||||
Reg. S, 1.50%, 06/15/2032 | EUR | 11,000 | 10,007 | |||||
2.75%, 08/15/2025 | 600 | 574 | ||||||
Reg. S, 2.75%, 09/15/2025 | EUR | 10,000 | 10,433 | |||||
Reg. S, 2.75%, 07/30/2030 | EUR | 30,000 | 30,576 | |||||
2.75%, 09/13/2030 | EUR | 230 | 235 | |||||
3.13%, 12/14/2023 | 250 | 249 | ||||||
Reg. S, 3.63%, 03/14/2042 | EUR | 2,025 | 2,103 | |||||
Reg. S, 3.88%, 06/08/2037 | GBP | 3,000 | 3,300 | |||||
4.50%, 10/15/2025 | EUR | 10,000 | 10,783 | |||||
4.50%, 10/16/2028 | 720 | 714 | ||||||
Reg. S, 4.50%, 03/07/2044 | GBP | 3,000 | 3,394 | |||||
5.00%, 04/15/2039 | GBP | 3,500 | 4,294 | |||||
Reg. S, 6.27%, 08/28/2024 | IDR | 10,000,000 | 646 | |||||
Series 1981, 2.63%, 03/15/2035 | EUR | 40 | 39 | |||||
Series DIP, Reg. S, 4.63%, 10/12/2054 | GBP | 3,055 | 3,471 | |||||
FMS Wertmanagement, (Germany), Reg. S, 0.38%, 04/29/2030 | EUR | 1,600 | 1,398 | |||||
Inter-American Development Bank, (Supranational), | ||||||||
0.50%, 09/23/2024 | 750 | 713 | ||||||
0.88%, 04/20/2026 | 400 | 361 | ||||||
1.25%, 12/15/2025 | GBP | 2,000 | 2,246 | |||||
1.50%, 01/13/2027 | 1,000 | 898 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Multi-National continued | ||||||||
2.13%, 01/15/2025 | 290 | 278 | ||||||
2.38%, 08/03/2029 | GBP | 1,000 | 1,076 | |||||
3.00%, 02/21/2024 | 100 | 99 | ||||||
6.75%, 07/15/2027 | 700 | 741 | ||||||
International Development Association, (Supranational), | ||||||||
Reg. S, 0.00%, 10/19/2026 | EUR | 1,000 | 951 | |||||
Reg. S, 0.35%, 04/22/2036 | EUR | 3,500 | 2,518 | |||||
Reg. S, 0.38%, 09/22/2027 | GBP | 2,000 | 2,051 | |||||
Reg. S, 0.70%, 01/17/2042 | EUR | 1,000 | 636 | |||||
Reg. S, 2.50%, 01/15/2038 | EUR | 4,000 | 3,700 | |||||
International Finance Corp., (Supranational), | ||||||||
0.25%, 12/15/2025 | GBP | 1,000 | 1,098 | |||||
Reg. S, 1.38%, 03/07/2025 | GBP | 1,000 | 1,156 | |||||
3.63%, 09/15/2025 | 2,120 | 2,061 | ||||||
North American Development Bank, (Supranational), Reg. S, 0.20%, 11/28/2028 | CHF | 200 | 201 | |||||
|
|
|||||||
304,892 | ||||||||
|
|
|||||||
Municipal 0.0% (g) | ||||||||
Transport for London, (United Kingdom), | ||||||||
Reg. S, 3.88%, 07/23/2042 | GBP | 140 | 133 | |||||
Reg. S, 4.00%, 09/12/2033 | GBP | 300 | 319 | |||||
|
|
|||||||
452 | ||||||||
|
|
|||||||
Regional (State/Province) 0.0% (g) | ||||||||
KAF Kaerntner Ausgleichszahlungs-Fonds, (Austria), Reg. S, Zero Coupon, 01/14/2032 | EUR | 860 | 670 | |||||
UK Municipal Bonds Agency Finance Co. Designated Activity Co., (Ireland), Reg. S, 1.63%, 08/26/2060 | GBP | 100 | 46 | |||||
|
|
|||||||
716 | ||||||||
|
|
|||||||
Total Government | 306,060 | |||||||
|
|
|||||||
Industrial 2.9% | ||||||||
Aerospace/Defense 0.3% | ||||||||
Airbus SE, (Netherlands), | ||||||||
Reg. S, 1.63%, 06/09/2030 | EUR | 6,700 | 6,112 | |||||
Reg. S, 2.00%, 04/07/2028 | EUR | 1,100 | 1,078 | |||||
Reg. S, 2.38%, 04/07/2032 | EUR | 1,000 | 937 | |||||
BAE Systems plc, (United Kingdom), 1.90%, 02/15/2031 (e) | 1,350 | 1,041 | ||||||
Boeing Co. (The), | ||||||||
3.45%, 11/01/2028 | 100 | 90 | ||||||
4.88%, 05/01/2025 | 2,687 | 2,641 | ||||||
5.71%, 05/01/2040 | 2,405 | 2,218 | ||||||
5.81%, 05/01/2050 | 145 | 132 | ||||||
5.93%, 05/01/2060 | 260 | 233 | ||||||
General Dynamics Corp., | ||||||||
2.25%, 06/01/2031 | 300 | 242 | ||||||
3.75%, 05/15/2028 | 85 | 80 | ||||||
Hexcel Corp., 4.20%, 02/15/2027 | 520 | 482 | ||||||
L3Harris Technologies, Inc., 5.40%, 07/31/2033 | 1,600 | 1,539 | ||||||
Leonardo SpA, (Italy), Reg. S, 4.88%, 03/24/2025 | EUR | 1,600 | 1,696 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Aerospace/Defense continued | ||||||||
Lockheed Martin Corp., | ||||||||
3.80%, 03/01/2045 | 300 | 230 | ||||||
4.09%, 09/15/2052 | 35 | 28 | ||||||
4.15%, 06/15/2053 | 400 | 315 | ||||||
4.30%, 06/15/2062 | 324 | 253 | ||||||
4.70%, 05/15/2046 | 360 | 316 | ||||||
4.75%, 02/15/2034 | 300 | 284 | ||||||
5.10%, 11/15/2027 | 400 | 398 | ||||||
5.20%, 02/15/2055 | 120 | 111 | ||||||
5.70%, 11/15/2054 | 290 | 289 | ||||||
5.90%, 11/15/2063 | 185 | 188 | ||||||
RTX Corp., | ||||||||
2.15%, 05/18/2030 | EUR | 1,500 | 1,380 | |||||
2.82%, 09/01/2051 | 200 | 114 | ||||||
3.20%, 03/15/2024 | 30 | 30 | ||||||
3.95%, 08/16/2025 | 96 | 93 | ||||||
7.20%, 08/15/2027 | 20 | 21 | ||||||
Safran SA, (France), | ||||||||
Reg. S, 0.13%, 03/16/2026 | EUR | 1,000 | 964 | |||||
Reg. S, 0.75%, 03/17/2031 | EUR | 5,500 | 4,644 | |||||
Thales SA, (France), | ||||||||
Reg. S, 0.00%, 03/26/2026 | EUR | 3,800 | 3,646 | |||||
Reg. S, 0.75%, 01/23/2025 | EUR | 1,000 | 1,011 | |||||
Reg. S, 1.00%, 05/15/2028 | EUR | 1,900 | 1,755 | |||||
|
|
|||||||
34,591 | ||||||||
|
|
|||||||
Building Materials 0.5% | ||||||||
Carrier Global Corp., | ||||||||
2.24%, 02/15/2025 | 20 | 19 | ||||||
2.49%, 02/15/2027 | 10 | 9 | ||||||
3.38%, 04/05/2040 | 100 | 72 | ||||||
CRH Finance DAC, (Ireland), Reg. S, 1.38%, 10/18/2028 | EUR | 1,000 | 930 | |||||
Crh Finance UK plc, (United Kingdom), Reg. S, 4.13%, 12/02/2029 | GBP | 1,500 | 1,674 | |||||
CRH SMW Finance DAC, (Ireland), | ||||||||
Reg. S, 1.25%, 11/05/2026 | EUR | 1,000 | 973 | |||||
Reg. S, 4.00%, 07/11/2027 | EUR | 5,000 | 5,270 | |||||
Reg. S, 4.25%, 07/11/2035 | EUR | 7,600 | 7,732 | |||||
Eagle Materials, Inc., 2.50%, 07/01/2031 | 461 | 360 | ||||||
Fortune Brands Innovations, Inc., 4.50%, 03/25/2052 | 30 | 22 | ||||||
Heidelberg Materials AG, (Germany), Reg. S, 3.75%, 05/31/2032 | EUR | 3,825 | 3,724 | |||||
Holcim Finance Luxembourg SA, (Luxembourg), | ||||||||
Reg. S, 0.50%, 11/29/2026 | EUR | 500 | 474 | |||||
Reg. S, 0.50%, 09/03/2030 | EUR | 500 | 404 | |||||
Reg. S, 0.50%, 04/23/2031 | EUR | 1,000 | 790 | |||||
Reg. S, 0.63%, 04/06/2030 | EUR | 4,350 | 3,614 | |||||
Reg. S, 0.63%, 01/19/2033 | EUR | 500 | 373 | |||||
Reg. S, 1.50%, 04/06/2025 | EUR | 5,000 | 5,078 | |||||
Reg. S, 2.25%, 05/26/2028 | EUR | 2,000 | 1,951 | |||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 3.07%), 3.00%, 04/05/2024 (x) (aa) | EUR | 500 | 514 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Building Materials continued | ||||||||
Holcim Sterling Finance Netherlands BV, (Netherlands), Reg. S, 3.00%, 05/12/2032 | GBP | 3,500 | 3,381 | |||||
Imerys SA, (France), | ||||||||
Reg. S, 1.50%, 01/15/2027 | EUR | 3,000 | 2,899 | |||||
Reg. S, 2.00%, 12/10/2024 | EUR | 1,000 | 1,027 | |||||
Johnson Controls International plc / Tyco Fire & Security Finance SCA, (Ireland), | ||||||||
0.38%, 09/15/2027 | EUR | 1,000 | 912 | |||||
1.00%, 09/15/2032 | EUR | 1,000 | 809 | |||||
3.00%, 09/15/2028 | EUR | 1,000 | 1,002 | |||||
Lennox International, Inc., | ||||||||
1.35%, 08/01/2025 | 12 | 11 | ||||||
5.50%, 09/15/2028 | 265 | 260 | ||||||
Martin Marietta Materials, Inc., | ||||||||
3.20%, 07/15/2051 | 96 | 60 | ||||||
4.25%, 07/02/2024 | 40 | 39 | ||||||
Owens Corning, 3.95%, 08/15/2029 | 500 | 454 | ||||||
Trane Technologies Financing Ltd., (Ireland), 4.50%, 03/21/2049 | 15 | 12 | ||||||
Vulcan Materials Co., | ||||||||
3.50%, 06/01/2030 | 60 | 52 | ||||||
4.70%, 03/01/2048 | 440 | 364 | ||||||
5.80%, 03/01/2026 | 240 | 239 | ||||||
|
|
|||||||
45,504 | ||||||||
|
|
|||||||
Electrical Components & Equipments 0.1% | ||||||||
Emerson Electric Co., | ||||||||
1.25%, 10/15/2025 | EUR | 1,000 | 1,002 | |||||
1.95%, 10/15/2030 | 200 | 160 | ||||||
2.00%, 12/21/2028 | 25 | 21 | ||||||
2.00%, 10/15/2029 | EUR | 1,500 | 1,430 | |||||
2.80%, 12/21/2051 | 169 | 102 | ||||||
Legrand SA, (France), | ||||||||
Reg. S, 0.63%, 06/24/2028 | EUR | 1,000 | 920 | |||||
Reg. S, 1.00%, 03/06/2026 | EUR | 1,000 | 986 | |||||
Reg. S, 1.88%, 07/06/2032 | EUR | 1,000 | 937 | |||||
Signify NV, (Netherlands), | ||||||||
Reg. S, 2.00%, 05/11/2024 | EUR | 550 | 573 | |||||
Reg. S, 2.38%, 05/11/2027 | EUR | 175 | 172 | |||||
|
|
|||||||
6,303 | ||||||||
|
|
|||||||
Electronics 0.3% | ||||||||
Agilent Technologies, Inc., | ||||||||
2.30%, 03/12/2031 | 425 | 337 | ||||||
2.75%, 09/15/2029 | 60 | 51 | ||||||
3.05%, 09/22/2026 | 275 | 256 | ||||||
Allegion US Holding Co., Inc., 3.20%, 10/01/2024 | 20 | 19 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electronics continued | ||||||||
Amphenol Technologies Holding GmbH, (Germany), Reg. S, 0.75%, 05/04/2026 | EUR | 2,525 | 2,459 | |||||
Arrow Electronics, Inc., 6.13%, 03/01/2026 | 480 | 478 | ||||||
Assa Abloy AB, (Sweden), | ||||||||
Reg. S, 3.88%, 09/13/2030 | EUR | 4,550 | 4,776 | |||||
Reg. S, 4.13%, 09/13/2035 | EUR | 5,575 | 5,800 | |||||
Avnet, Inc., 5.50%, 06/01/2032 | 60 | 55 | ||||||
Flex Ltd., (Singapore), | ||||||||
3.75%, 02/01/2026 | 220 | 209 | ||||||
4.88%, 06/15/2029 | 164 | 153 | ||||||
4.88%, 05/12/2030 | 175 | 164 | ||||||
Honeywell International, Inc., | ||||||||
0.75%, 03/10/2032 | EUR | 2,500 | 2,019 | |||||
2.25%, 02/22/2028 | EUR | 1,500 | 1,482 | |||||
4.13%, 11/02/2034 | EUR | 3,700 | 3,837 | |||||
4.50%, 01/15/2034 | 650 | 604 | ||||||
Hubbell, Inc., 2.30%, 03/15/2031 | 399 | 317 | ||||||
Jabil, Inc., | ||||||||
1.70%, 04/15/2026 | 150 | 135 | ||||||
5.45%, 02/01/2029 | 350 | 340 | ||||||
Keysight Technologies, Inc., | ||||||||
3.00%, 10/30/2029 | 245 | 210 | ||||||
4.55%, 10/30/2024 | 250 | 246 | ||||||
4.60%, 04/06/2027 | 55 | 53 | ||||||
Tyco Electronics Group SA, (Luxembourg), | ||||||||
0.00%, 02/14/2025 | EUR | 1,000 | 1,000 | |||||
0.00%, 02/16/2029 | EUR | 1,000 | 864 | |||||
Vontier Corp., 2.95%, 04/01/2031 | 485 | 374 | ||||||
|
|
|||||||
26,238 | ||||||||
|
|
|||||||
Engineering & Construction 0.6% | ||||||||
ABB Finance BV, (Netherlands), | ||||||||
Reg. S, 0.00%, 01/19/2030 | EUR | 2,000 | 1,649 | |||||
Reg. S, 3.38%, 01/16/2031 | EUR | 10,000 | 10,160 | |||||
Aeroports de Paris SA, (France), | ||||||||
Reg. S, 1.00%, 01/05/2029 | EUR | 500 | 455 | |||||
Reg. S, 1.50%, 07/02/2032 | EUR | 200 | 173 | |||||
Reg. S, 2.13%, 10/02/2026 | EUR | 200 | 201 | |||||
Reg. S, 2.75%, 06/05/2028 | EUR | 100 | 101 | |||||
Reg. S, 2.75%, 04/02/2030 | EUR | 2,500 | 2,453 | |||||
Cellnex Finance Co. SA, (Spain), | ||||||||
Reg. S, 2.00%, 02/15/2033 | EUR | 1,200 | 977 | |||||
Reg. S, 2.25%, 04/12/2026 | EUR | 2,000 | 1,995 | |||||
CRCC Hean Ltd., (Hong Kong), Reg. S, 0.88%, 05/20/2026 | EUR | 300 | 288 | |||||
DAA Finance plc, (Ireland), Reg. S, 1.60%, 11/05/2032 | EUR | 100 | 84 | |||||
Ferrovial Emisiones SA, (Spain), | ||||||||
Reg. S, 0.54%, 11/12/2028 | EUR | 1,000 | 878 | |||||
Reg. S, 1.38%, 03/31/2025 | EUR | 1,000 | 1,015 | |||||
Reg. S, 1.38%, 05/14/2026 | EUR | 1,000 | 989 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Engineering & Construction continued | ||||||||
Heathrow Funding Ltd., (Jersey), | ||||||||
Reg. S, 4.63%, 10/31/2046 | GBP | 325 | 308 | |||||
Reg. S, 6.45%, 12/10/2031 | GBP | 225 | 280 | |||||
Reg. S, 6.75%, 12/03/2026 | GBP | 150 | 187 | |||||
HOCHTIEF AG, (Germany), | ||||||||
Reg. S, 0.50%, 09/03/2027 | EUR | 3,500 | 3,238 | |||||
Reg. S, 0.63%, 04/26/2029 | EUR | 17,528 | 15,011 | |||||
Reg. S, 1.75%, 07/03/2025 | EUR | 1,500 | 1,518 | |||||
Jacobs Engineering Group, Inc., 6.35%, 08/18/2028 | 950 | 948 | ||||||
Royal Schiphol Group NV, (Netherlands), | ||||||||
Reg. S, 0.38%, 09/08/2027 | EUR | 300 | 277 | |||||
Reg. S, 0.75%, 04/22/2033 | EUR | 200 | 156 | |||||
Sydney Airport Finance Co. Pty Ltd., (Australia), | ||||||||
Reg. S, 1.75%, 04/26/2028 | EUR | 1,000 | 954 | |||||
Reg. S, 2.75%, 04/23/2024 | EUR | 500 | 524 | |||||
Technip Energies NV, (Netherlands), Reg. S, 1.13%, 05/28/2028 | EUR | 10,252 | 9,344 | |||||
Vinci SA, (France), Reg. S, 3.38%, 10/17/2032 | EUR | 2,000 | 2,008 | |||||
Worley US Finance Sub Ltd., Reg. S, 0.88%, 06/09/2026 | EUR | 3,075 | 2,930 | |||||
|
|
|||||||
59,101 | ||||||||
|
|
|||||||
Environmental Control 0.0% (g) | ||||||||
Waste Connections, Inc., (Canada), | ||||||||
2.60%, 02/01/2030 | 200 | 168 | ||||||
3.20%, 06/01/2032 | 50 | 42 | ||||||
4.25%, 12/01/2028 | 250 | 236 | ||||||
|
|
|||||||
446 | ||||||||
|
|
|||||||
Hand/Machine Tools 0.0% (g) | ||||||||
Regal Rexnord Corp., | ||||||||
6.05%, 02/15/2026 (e) | 620 | 613 | ||||||
6.30%, 02/15/2030 (e) | 159 | 153 | ||||||
Snap-on, Inc., 3.10%, 05/01/2050 | 30 | 20 | ||||||
|
|
|||||||
786 | ||||||||
|
|
|||||||
Machinery - Construction & Mining 0.0% (g) | ||||||||
Caterpillar Financial Services Corp., | ||||||||
0.80%, 11/13/2025 | 150 | 136 | ||||||
4.90%, 01/17/2025 | 200 | 199 | ||||||
Caterpillar, Inc., 4.75%, 05/15/2064 | 100 | 86 | ||||||
Oshkosh Corp., 3.10%, 03/01/2030 | 350 | 299 | ||||||
Sandvik AB, (Sweden), | ||||||||
Reg. S, 2.13%, 06/07/2027 | EUR | 1,000 | 989 | |||||
Reg. S, 3.75%, 09/27/2029 | EUR | 1,000 | 1,036 | |||||
Siemens Energy Finance BV, (Netherlands), Reg. S, 4.25%, 04/05/2029 | EUR | 2,000 | 2,009 | |||||
|
|
|||||||
4,754 | ||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Machinery - Diversified 0.2% | ||||||||
AGCO International Holdings BV, (Netherlands), Reg. S, 0.80%, 10/06/2028 | EUR | 6,200 | 5,420 | |||||
Atlas Copco AB, (Sweden), Reg. S, 0.63%, 08/30/2026 | EUR | 1,325 | 1,285 | |||||
Atlas Copco Finance DAC, (Ireland), | ||||||||
Reg. S, 0.13%, 09/03/2029 | EUR | 500 | 429 | |||||
Reg. S, 0.75%, 02/08/2032 | EUR | 500 | 413 | |||||
CNH Industrial Capital LLC, 3.95%, 05/23/2025 | 1,065 | 1,032 | ||||||
Dover Corp., | ||||||||
0.75%, 11/04/2027 | EUR | 1,000 | 928 | |||||
1.25%, 11/09/2026 | EUR | 1,000 | 972 | |||||
Highland Holdings Sarl, (Luxembourg), | ||||||||
0.32%, 12/15/2026 | EUR | 1,500 | 1,410 | |||||
0.93%, 12/15/2031 | EUR | 2,050 | 1,665 | |||||
IDEX Corp., | ||||||||
2.63%, 06/15/2031 | 1,445 | 1,159 | ||||||
3.00%, 05/01/2030 | 332 | 281 | ||||||
Ingersoll Rand, Inc., | ||||||||
5.40%, 08/14/2028 | 430 | 423 | ||||||
5.70%, 08/14/2033 | 545 | 527 | ||||||
John Deere Capital Corp., | ||||||||
4.75%, 01/20/2028 | 500 | 491 | ||||||
5.15%, 03/03/2025 | 5 | 5 | ||||||
Nordson Corp., | ||||||||
5.60%, 09/15/2028 | 505 | 500 | ||||||
5.80%, 09/15/2033 | 790 | 772 | ||||||
nVent Finance Sarl, (Luxembourg), 5.65%, 05/15/2033 | 655 | 610 | ||||||
Otis Worldwide Corp., | ||||||||
2.06%, 04/05/2025 | 20 | 19 | ||||||
2.29%, 04/05/2027 | 200 | 179 | ||||||
3.36%, 02/15/2050 | 10 | 7 | ||||||
Westinghouse Air Brake Technologies Corp., | ||||||||
3.20%, 06/15/2025 | 350 | 332 | ||||||
4.15%, 03/15/2024 | 1,800 | 1,783 | ||||||
|
|
|||||||
20,642 | ||||||||
|
|
|||||||
Miscellaneous Manufacturers 0.5% | ||||||||
Alfa Laval Treasury International AB, (Sweden), Reg. S, 0.88%, 02/18/2026 | EUR | 3,500 | 3,431 | |||||
Eaton Capital Unlimited Co., (Ireland), | ||||||||
Reg. S, 0.13%, 03/08/2026 | EUR | 10,000 | 9,617 | |||||
Reg. S, 0.58%, 03/08/2030 | EUR | 1,500 | 1,280 | |||||
Reg. S, 0.70%, 05/14/2025 | EUR | 2,525 | 2,525 | |||||
Reg. S, 0.75%, 09/20/2024 | EUR | 1,000 | 1,024 | |||||
Eaton Corp., | ||||||||
4.15%, 11/02/2042 | 145 | 118 | ||||||
4.35%, 05/18/2028 | 70 | 67 | ||||||
GE Capital UK Funding Unlimited Co., (Ireland), Reg. S, 5.88%, 01/18/2033 | GBP | 2,950 | 3,536 | |||||
General Electric Co., | ||||||||
1.50%, 05/17/2029 | EUR | 1,000 | 928 | |||||
1.88%, 05/28/2027 | EUR | 1,000 | 982 | |||||
Reg. S, 4.13%, 09/19/2035 | EUR | 1,000 | 1,030 | |||||
Reg. S, 4.88%, 09/18/2037 | GBP | 4,000 | 4,147 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Miscellaneous Manufacturers continued | ||||||||
Illinois Tool Works, Inc., | ||||||||
0.63%, 12/05/2027 | EUR | 1,000 | 932 | |||||
1.00%, 06/05/2031 | EUR | 500 | 433 | |||||
Parker-Hannifin Corp., 1.13%, 03/01/2025 | EUR | 1,650 | 1,670 | |||||
Pentair Finance Sarl, (Luxembourg), 4.50%, 07/01/2029 | 2,150 | 1,971 | ||||||
Siemens Financieringsmaatschappij NV, (Netherlands), Reg. S, 0.30%, 02/28/2024 | EUR | 20 | 21 | |||||
Smiths Group plc, (United Kingdom), Reg. S, 2.00%, 02/23/2027 | EUR | 12,602 | 12,451 | |||||
Teledyne Technologies, Inc., 1.60%, 04/01/2026 | 170 | 154 | ||||||
Textron, Inc., 2.45%, 03/15/2031 | 1,000 | 795 | ||||||
Wabtec Transportation Netherlands BV, (Netherlands), 1.25%, 12/03/2027 | EUR | 1,500 | 1,386 | |||||
|
|
|||||||
48,498 | ||||||||
|
|
|||||||
Packaging & Containers 0.1% | ||||||||
Amcor UK Finance plc, (United Kingdom), 1.13%, 06/23/2027 | EUR | 1,500 | 1,405 | |||||
Ball Corp., 0.88%, 03/15/2024 | EUR | 1,200 | 1,245 | |||||
Berry Global, Inc., 5.50%, 04/15/2028 (e) | 615 | 594 | ||||||
DS Smith plc, (United Kingdom), Reg. S, 0.88%, 09/12/2026 | EUR | 4,300 | 4,100 | |||||
Sealed Air Corp., 5.50%, 09/15/2025 (e) | 1,460 | 1,430 | ||||||
|
|
|||||||
8,774 | ||||||||
|
|
|||||||
Transportation 0.3% | ||||||||
Aurizon Network Pty Ltd., (Australia), | ||||||||
Reg. S, 2.00%, 09/18/2024 | EUR | 1,000 | 1,034 | |||||
Reg. S, 3.13%, 06/01/2026 | EUR | 1,000 | 1,025 | |||||
Brambles Finance plc, (United Kingdom), Reg. S, 1.50%, 10/04/2027 | EUR | 1,000 | 969 | |||||
Burlington Northern Santa Fe LLC, | ||||||||
2.88%, 06/15/2052 | 380 | 234 | ||||||
3.00%, 04/01/2025 | 160 | 155 | ||||||
3.30%, 09/15/2051 | 20 | 13 | ||||||
4.15%, 04/01/2045 | 50 | 40 | ||||||
4.45%, 01/15/2053 | 75 | 62 | ||||||
4.55%, 09/01/2044 | 170 | 143 | ||||||
4.95%, 09/15/2041 | 700 | 631 | ||||||
5.20%, 04/15/2054 | 900 | 824 | ||||||
5.40%, 06/01/2041 | 70 | 66 | ||||||
Canadian National Railway Co., (Canada), 4.40%, 08/05/2052 | 160 | 133 | ||||||
Canadian Pacific Railway Co., (Canada), | ||||||||
3.10%, 12/02/2051 | 210 | 131 | ||||||
4.20%, 11/15/2069 | 10 | 7 | ||||||
Deutsche Bahn Finance GMBH, (Germany), | ||||||||
Reg. S, 0.10%, 01/28/2036 | CHF | 150 | 131 | |||||
Reg. S, 0.35%, 09/29/2031 | EUR | 100 | 82 | |||||
Reg. S, 0.50%, 04/09/2027 | EUR | 140 | 134 | |||||
Reg. S, 1.00%, 12/17/2027 | EUR | 300 | 287 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Transportation continued | ||||||||
Reg. S, 1.13%, 12/18/2028 | EUR | 300 | 281 | |||||
Reg. S, 1.13%, 05/29/2051 | EUR | 112 | 61 | |||||
Reg. S, 1.38%, 03/28/2031 | EUR | 2,000 | 1,801 | |||||
Reg. S, 1.38%, 04/16/2040 | EUR | 50 | 36 | |||||
Reg. S, 1.50%, 08/26/2024 | CHF | 500 | 544 | |||||
Reg. S, 1.63%, 08/16/2033 | EUR | 189 | 166 | |||||
Reg. S, 1.88%, 02/13/2026 | GBP | 6,000 | 6,799 | |||||
Reg. S, 1.88%, 05/24/2030 | EUR | 300 | 284 | |||||
1.99%, 07/08/2030 | AUD | 200 | 101 | |||||
Reg. S, 3.25%, 05/19/2033 | EUR | 300 | 304 | |||||
Reg. S, 3.50%, 09/27/2024 | AUD | 300 | 190 | |||||
Reg. S, 3.63%, 12/18/2037 | EUR | 390 | 392 | |||||
Reg. S, 3.75%, 10/29/2025 | AUD | 1,000 | 625 | |||||
Series CB, Reg. S, (EUR Swap Rate 5 Year + 1.89%), 1.60%, 07/18/2029 (x) (aa) | EUR | 1,700 | 1,416 | |||||
East Japan Railway Co., (Japan), Reg. S, 4.50%, 01/25/2036 | GBP | 2,000 | 2,190 | |||||
Ferrovie dello Stato Italiane SpA, (Italy), | ||||||||
Reg. S, 1.50%, 06/27/2025 | EUR | 510 | 515 | |||||
Reg. S, 4.50%, 05/23/2033 | EUR | 200 | 206 | |||||
La Poste SA, (France), | ||||||||
Reg. S, 0.00%, 07/18/2029 | EUR | 200 | 168 | |||||
Reg. S, 0.38%, 09/17/2027 | EUR | 100 | 92 | |||||
Reg. S, 0.63%, 10/21/2026 | EUR | 1,300 | 1,242 | |||||
Reg. S, 1.00%, 09/17/2034 | EUR | 200 | 153 | |||||
Reg. S, 1.38%, 04/21/2032 | EUR | 1,000 | 853 | |||||
Reg. S, 2.63%, 09/14/2028 | EUR | 100 | 100 | |||||
Reg. S, 4.00%, 06/12/2035 | EUR | 200 | 206 | |||||
Network Rail Infrastructure Finance plc, (United Kingdom), Reg. S, 4.38%, 12/09/2030 | GBP | 190 | 227 | |||||
OeBB-Infrastruktur AG, (Austria), | ||||||||
2.25%, 05/28/2029 | EUR | 325 | 324 | |||||
3.00%, 10/24/2033 | EUR | 200 | 203 | |||||
Reg. S, 3.38%, 05/18/2032 | EUR | 4 | 4 | |||||
Reg. S, 3.88%, 06/30/2025 | EUR | 80 | 85 | |||||
Ryder System, Inc., 5.65%, 03/01/2028 | 110 | 109 | ||||||
United Parcel Service, Inc., 1.50%, 11/15/2032 | EUR | 1,125 | 968 | |||||
|
|
|||||||
26,746 | ||||||||
|
|
|||||||
Trucking & Leasing 0.0% (g) | ||||||||
Penske Truck Leasing Co. LP / PTL Finance Corp., | ||||||||
4.40%, 07/01/2027 (e) | 730 | 684 | ||||||
5.55%, 05/01/2028 (e) | 1,135 | 1,100 | ||||||
5.75%, 05/24/2026 (e) | 860 | 847 | ||||||
6.05%, 08/01/2028 (e) | 660 | 652 | ||||||
|
|
|||||||
3,283 | ||||||||
|
|
|||||||
Total Industrial | 285,666 | |||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Technology 1.5% | ||||||||
Computers 0.3% | ||||||||
Amdocs Ltd., (Guernsey), 2.54%, 06/15/2030 | 1,135 | 911 | ||||||
Apple, Inc., | ||||||||
0.50%, 11/15/2031 | EUR | 6,000 | 4,986 | |||||
1.20%, 02/08/2028 | 295 | 252 | ||||||
1.38%, 05/24/2029 | EUR | 8,100 | 7,639 | |||||
1.40%, 08/05/2028 | 30 | 25 | ||||||
1.63%, 11/10/2026 | EUR | 1,125 | 1,123 | |||||
1.65%, 05/11/2030 | 250 | 203 | ||||||
2.38%, 02/08/2041 | 85 | 57 | ||||||
2.55%, 08/20/2060 | 15 | 8 | ||||||
2.65%, 05/11/2050 | 25 | 15 | ||||||
2.65%, 02/08/2051 | 30 | 18 | ||||||
2.80%, 02/08/2061 | 20 | 12 | ||||||
2.85%, 08/05/2061 | 40 | 24 | ||||||
3.05%, 07/31/2029 | GBP | 425 | 471 | |||||
3.25%, 02/23/2026 | 50 | 48 | ||||||
3.25%, 08/08/2029 | 1,020 | 932 | ||||||
3.35%, 02/09/2027 | 15 | 14 | ||||||
3.75%, 09/12/2047 | 1,000 | 774 | ||||||
3.95%, 08/08/2052 | 285 | 223 | ||||||
4.10%, 08/08/2062 | 425 | 326 | ||||||
Capgemini SE, (France), Reg. S, 0.63%, 06/23/2025 | EUR | 100 | 100 | |||||
CGI, Inc., (Canada), | ||||||||
1.45%, 09/14/2026 | 60 | 53 | ||||||
2.30%, 09/14/2031 | 690 | 518 | ||||||
Dell Bank International DAC, (Ireland), | ||||||||
Reg. S, 0.50%, 10/27/2026 | EUR | 1,000 | 944 | |||||
Reg. S, 4.50%, 10/18/2027 | EUR | 1,000 | 1,066 | |||||
Fortinet, Inc., 2.20%, 03/15/2031 | 190 | 147 | ||||||
Genpact Luxembourg Sarl, (Luxembourg), 3.38%, 12/01/2024 | 1,400 | 1,348 | ||||||
Hewlett Packard Enterprise Co., | ||||||||
5.90%, 10/01/2024 | 15 | 15 | ||||||
6.10%, 04/01/2026 | 220 | 220 | ||||||
6.35%, 10/15/2045 | 45 | 44 | ||||||
International Business Machines Corp., | ||||||||
1.25%, 02/09/2034 | EUR | 1,000 | 799 | |||||
2.20%, 02/09/2027 | 200 | 180 | ||||||
2.72%, 02/09/2032 | 100 | 82 | ||||||
3.30%, 05/15/2026 | 1,060 | 1,006 | ||||||
3.43%, 02/09/2052 | 200 | 130 | ||||||
3.50%, 05/15/2029 | 300 | 271 | ||||||
4.00%, 07/27/2025 | 300 | 292 | ||||||
4.25%, 05/15/2049 | 245 | 189 | ||||||
4.50%, 02/06/2028 | 400 | 387 | ||||||
4.88%, 02/06/2038 | GBP | 1,000 | 1,077 | |||||
4.90%, 07/27/2052 | 550 | 466 | ||||||
Kyndryl Holdings, Inc., 2.05%, 10/15/2026 | 20 | 17 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Computers continued | ||||||||
NetApp, Inc., 1.88%, 06/22/2025 | 1,700 | 1,590 | ||||||
Teledyne FLIR LLC, 2.50%, 08/01/2030 | 510 | 410 | ||||||
Western Digital Corp., 3.10%, 02/01/2032 | 34 | 25 | ||||||
|
|
|||||||
29,437 | ||||||||
|
|
|||||||
Office/Business & Equipments 0.0% (g) | ||||||||
CDW LLC / CDW Finance Corp., | ||||||||
2.67%, 12/01/2026 | 985 | 888 | ||||||
3.28%, 12/01/2028 | 692 | 597 | ||||||
3.57%, 12/01/2031 | 262 | 216 | ||||||
4.13%, 05/01/2025 | 1,915 | 1,848 | ||||||
|
|
|||||||
3,549 | ||||||||
|
|
|||||||
Semiconductors 0.3% | ||||||||
Analog Devices, Inc., | ||||||||
1.70%, 10/01/2028 | 200 | 169 | ||||||
2.95%, 10/01/2051 | 250 | 156 | ||||||
3.45%, 06/15/2027 | 270 | 253 | ||||||
Applied Materials, Inc., 3.30%, 04/01/2027 | 55 | 52 | ||||||
ASML Holding NV, (Netherlands), | ||||||||
Reg. S, 0.25%, 02/25/2030 | EUR | 1,000 | 853 | |||||
Reg. S, 0.63%, 05/07/2029 | EUR | 1,200 | 1,077 | |||||
Reg. S, 1.38%, 07/07/2026 | EUR | 2,000 | 1,989 | |||||
Reg. S, 1.63%, 05/28/2027 | EUR | 2,750 | 2,717 | |||||
Reg. S, 2.25%, 05/17/2032 | EUR | 5,000 | 4,757 | |||||
Broadcom, Inc., | ||||||||
3.14%, 11/15/2035 (e) | 3,335 | 2,432 | ||||||
3.15%, 11/15/2025 | 217 | 205 | ||||||
3.19%, 11/15/2036 (e) | 1,220 | 876 | ||||||
3.42%, 04/15/2033 (e) | 293 | 234 | ||||||
3.46%, 09/15/2026 | 1,320 | 1,240 | ||||||
3.47%, 04/15/2034 (e) | 100 | 79 | ||||||
3.50%, 02/15/2041 (e) | 635 | 441 | ||||||
3.75%, 02/15/2051 (e) | 65 | 44 | ||||||
4.00%, 04/15/2029 (e) | 475 | 429 | ||||||
4.11%, 09/15/2028 | 410 | 378 | ||||||
4.15%, 04/15/2032 (e) | 310 | 269 | ||||||
4.93%, 05/15/2037 (e) | 200 | 172 | ||||||
Infineon Technologies AG, (Germany), | ||||||||
Reg. S, 0.63%, 02/17/2025 | EUR | 2,000 | 2,013 | |||||
Reg. S, 1.13%, 06/24/2026 | EUR | 1,400 | 1,372 | |||||
Reg. S, 1.63%, 06/24/2029 | EUR | 1,000 | 919 | |||||
Intel Corp., | ||||||||
4.88%, 02/10/2028 | 300 | 294 | ||||||
5.63%, 02/10/2043 | 225 | 214 | ||||||
5.70%, 02/10/2053 | 615 | 576 | ||||||
5.90%, 02/10/2063 | 295 | 280 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Semiconductors continued | ||||||||
Marvell Technology, Inc., | ||||||||
5.75%, 02/15/2029 | 277 | 274 | ||||||
5.95%, 09/15/2033 | 129 | 127 | ||||||
Microchip Technology, Inc., 4.25%, 09/01/2025 | 3,680 | 3,561 | ||||||
NVIDIA Corp., 3.70%, 04/01/2060 | 10 | 7 | ||||||
NXP BV / NXP Funding LLC / NXP USA, Inc., (Multinational), | ||||||||
3.40%, 05/01/2030 | 1,000 | 855 | ||||||
3.88%, 06/18/2026 | 590 | 561 | ||||||
NXP BV / NXP Funding LLC, (Multinational), 4.88%, 03/01/2024 | 95 | 95 | ||||||
Skyworks Solutions, Inc., 3.00%, 06/01/2031 | 340 | 266 | ||||||
Texas Instruments, Inc., | ||||||||
1.75%, 05/04/2030 | 59 | 48 | ||||||
2.70%, 09/15/2051 | 260 | 157 | ||||||
4.15%, 05/15/2048 | 17 | 13 | ||||||
|
|
|||||||
30,454 | ||||||||
|
|
|||||||
Software 0.9% | ||||||||
Activision Blizzard, Inc., 2.50%, 09/15/2050 | 70 | 42 | ||||||
Adobe, Inc., 2.30%, 02/01/2030 | 288 | 242 | ||||||
Electronic Arts, Inc., 2.95%, 02/15/2051 | 255 | 154 | ||||||
Fidelity National Information Services, Inc., | ||||||||
3.10%, 03/01/2041 | 180 | 119 | ||||||
3.36%, 05/21/2031 | GBP | 100 | 103 | |||||
Fiserv, Inc., | ||||||||
3.00%, 07/01/2031 | GBP | 8,000 | 8,010 | |||||
3.50%, 07/01/2029 | 170 | 152 | ||||||
4.40%, 07/01/2049 | 87 | 67 | ||||||
5.38%, 08/21/2028 | 1,805 | 1,782 | ||||||
5.45%, 03/02/2028 | 360 | 357 | ||||||
5.60%, 03/02/2033 | 415 | 402 | ||||||
5.63%, 08/21/2033 | 2,335 | 2,261 | ||||||
Intuit, Inc., | ||||||||
1.65%, 07/15/2030 | 1,258 | 988 | ||||||
5.20%, 09/15/2033 | 100 | 98 | ||||||
5.50%, 09/15/2053 | 200 | 192 | ||||||
Microsoft Corp., | ||||||||
2.53%, 06/01/2050 | 1,265 | 771 | ||||||
2.68%, 06/01/2060 | 535 | 314 | ||||||
3.04%, 03/17/2062 | 30 | 19 | ||||||
Oracle Corp., | ||||||||
1.65%, 03/25/2026 | 155 | 140 | ||||||
2.30%, 03/25/2028 | 900 | 780 | ||||||
2.65%, 07/15/2026 | 250 | 231 | ||||||
2.95%, 04/01/2030 | 300 | 252 | ||||||
3.60%, 04/01/2050 | 1,365 | 886 | ||||||
3.65%, 03/25/2041 | 500 | 357 | ||||||
3.85%, 04/01/2060 | 105 | 67 | ||||||
3.90%, 05/15/2035 | 285 | 233 | ||||||
3.95%, 03/25/2051 | 270 | 185 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Software continued | ||||||||
4.00%, 07/15/2046 | 475 | 336 | ||||||
4.10%, 03/25/2061 | 490 | 326 | ||||||
4.30%, 07/08/2034 | 309 | 266 | ||||||
4.65%, 05/06/2030 | 115 | 107 | ||||||
4.90%, 02/06/2033 | 75 | 69 | ||||||
5.55%, 02/06/2053 | 670 | 588 | ||||||
6.90%, 11/09/2052 | 745 | 768 | ||||||
Sage Group plc (The), (United Kingdom), | ||||||||
Reg. S, 1.63%, 02/25/2031 | GBP | 2,000 | 1,836 | |||||
Reg. S, 2.88%, 02/08/2034 | GBP | 7,500 | 6,970 | |||||
Reg. S, 3.82%, 02/15/2028 | EUR | 35,200 | 36,689 | |||||
SAP SE, (Germany), | ||||||||
Reg. S, 0.38%, 05/18/2029 | EUR | 7,000 | 6,184 | |||||
Reg. S, 1.00%, 04/01/2025 | EUR | 50 | 51 | |||||
Reg. S, 1.38%, 03/13/2030 | EUR | 7,500 | 6,918 | |||||
Reg. S, 1.63%, 03/10/2031 | EUR | 5,000 | 4,645 | |||||
ServiceNow, Inc., 1.40%, 09/01/2030 | 15 | 11 | ||||||
VMware, Inc., 4.50%, 05/15/2025 | 235 | 230 | ||||||
|
|
|||||||
85,198 | ||||||||
|
|
|||||||
Total Technology | 148,638 | |||||||
|
|
|||||||
Utilities 3.4% | ||||||||
Electric 2.7% | ||||||||
A2A SpA, (Italy), | ||||||||
Reg. S, 1.00%, 07/16/2029 | EUR | 100 | 87 | |||||
Reg. S, 1.00%, 11/02/2033 | EUR | 100 | 74 | |||||
Reg. S, 1.63%, 10/19/2027 | EUR | 200 | 193 | |||||
Reg. S, 4.38%, 02/03/2034 | EUR | 100 | 101 | |||||
ACEA SpA, (Italy), | ||||||||
Reg. S, 0.50%, 04/06/2029 | EUR | 100 | 87 | |||||
Reg. S, 1.75%, 05/23/2028 | EUR | 130 | 124 | |||||
Reg. S, 3.88%, 01/24/2031 | EUR | 200 | 203 | |||||
AEP Texas, Inc., | ||||||||
3.45%, 05/15/2051 | 10 | 6 | ||||||
4.70%, 05/15/2032 | 885 | 810 | ||||||
5.25%, 05/15/2052 | 10 | 9 | ||||||
Series I, 2.10%, 07/01/2030 | 2,600 | 2,055 | ||||||
AES Corp. (The), 2.45%, 01/15/2031 | 125 | 96 | ||||||
Alabama Power Co., | ||||||||
3.00%, 03/15/2052 | 60 | 36 | ||||||
3.75%, 09/01/2027 | 310 | 293 | ||||||
Alliander NV, (Netherlands), Reg. S, 2.63%, 09/09/2027 | EUR | 400 | 406 | |||||
Ameren Corp., | ||||||||
2.50%, 09/15/2024 | 30 | 29 | ||||||
3.50%, 01/15/2031 | 10 | 9 | ||||||
Ameren Illinois Co., | ||||||||
1.55%, 11/15/2030 | 30 | 23 | ||||||
3.25%, 03/15/2050 | 1,200 | 787 | ||||||
4.95%, 06/01/2033 | 10 | 9 | ||||||
5.90%, 12/01/2052 | 20 | 20 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
American Electric Power Co., Inc., | ||||||||
2.03%, 03/15/2024 | 90 | 88 | ||||||
2.30%, 03/01/2030 | 25 | 20 | ||||||
3.25%, 03/01/2050 | 20 | 12 | ||||||
5.95%, 11/01/2032 | 120 | 120 | ||||||
Amprion GmbH, (Germany), | ||||||||
Reg. S, 0.63%, 09/23/2033 | EUR | 1,500 | 1,125 | |||||
Reg. S, 3.97%, 09/22/2032 | EUR | 800 | 823 | |||||
Appalachian Power Co., | ||||||||
Series BB, 4.50%, 08/01/2032 | 150 | 135 | ||||||
Series Y, 4.50%, 03/01/2049 | 20 | 15 | ||||||
Series Z, 3.70%, 05/01/2050 | 45 | 30 | ||||||
Arizona Public Service Co., | ||||||||
2.20%, 12/15/2031 | 100 | 76 | ||||||
2.60%, 08/15/2029 | 84 | 72 | ||||||
3.35%, 05/15/2050 | 60 | 37 | ||||||
4.25%, 03/01/2049 | 10 | 7 | ||||||
5.55%, 08/01/2033 | 1,375 | 1,334 | ||||||
Atlantic City Electric Co., 4.00%, 10/15/2028 | 50 | 47 | ||||||
Baltimore Gas and Electric Co., | ||||||||
2.90%, 06/15/2050 | 50 | 30 | ||||||
4.55%, 06/01/2052 | 300 | 240 | ||||||
5.40%, 06/01/2053 | 50 | 46 | ||||||
Berkshire Hathaway Energy Co., | ||||||||
1.65%, 05/15/2031 | 400 | 299 | ||||||
2.85%, 05/15/2051 | 420 | 242 | ||||||
3.70%, 07/15/2030 | 20 | 18 | ||||||
4.25%, 10/15/2050 | 15 | 11 | ||||||
4.60%, 05/01/2053 | 55 | 43 | ||||||
5.15%, 11/15/2043 | 60 | 53 | ||||||
Black Hills Corp., | ||||||||
2.50%, 06/15/2030 | 100 | 80 | ||||||
3.05%, 10/15/2029 | 20 | 17 | ||||||
3.88%, 10/15/2049 | 10 | 7 | ||||||
CenterPoint Energy Houston Electric LLC, | ||||||||
5.20%, 10/01/2028 | 40 | 40 | ||||||
5.30%, 04/01/2053 | 50 | 47 | ||||||
Series AD, 2.90%, 07/01/2050 | 45 | 27 | ||||||
Series AF, 3.35%, 04/01/2051 | 10 | 6 | ||||||
Series AH, 3.60%, 03/01/2052 | 10 | 7 | ||||||
Series AJ, 4.85%, 10/01/2052 | 100 | 87 | ||||||
CenterPoint Energy, Inc., | ||||||||
2.95%, 03/01/2030 | 45 | 37 | ||||||
4.25%, 11/01/2028 | 3 | 3 | ||||||
CEZ A/S, (Czech Republic), Reg. S, 2.38%, 04/06/2027 | EUR | 1,425 | 1,398 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
Coentreprise de Transport dElectricite SA, (France), | ||||||||
Reg. S, 1.50%, 07/29/2028 | EUR | 100 | 94 | |||||
Reg. S, 2.13%, 07/29/2032 | EUR | 100 | 88 | |||||
Commonwealth Edison Co., | ||||||||
3.00%, 03/01/2050 | 55 | 34 | ||||||
3.70%, 08/15/2028 | 10 | 9 | ||||||
4.00%, 03/01/2048 | 25 | 19 | ||||||
4.00%, 03/01/2049 | 10 | 7 | ||||||
4.35%, 11/15/2045 | 980 | 774 | ||||||
5.30%, 02/01/2053 | 10 | 9 | ||||||
Series 131, 2.75%, 09/01/2051 | 440 | 249 | ||||||
Series 132, 3.15%, 03/15/2032 | 200 | 169 | ||||||
Connecticut Light and Power Co. (The), Series A, 2.05%, 07/01/2031 | 905 | 708 | ||||||
Consolidated Edison Co. of New York, Inc., | ||||||||
3.20%, 12/01/2051 | 100 | 63 | ||||||
3.60%, 06/15/2061 | 210 | 135 | ||||||
3.85%, 06/15/2046 | 10 | 7 | ||||||
5.20%, 03/01/2033 | 100 | 97 | ||||||
6.15%, 11/15/2052 | 60 | 60 | ||||||
Series 09-C, 5.50%, 12/01/2039 | 10 | 9 | ||||||
Series 20A, 3.35%, 04/01/2030 | 70 | 61 | ||||||
Series 20B, 3.95%, 04/01/2050 | 55 | 41 | ||||||
Series A, 4.13%, 05/15/2049 | 20 | 15 | ||||||
Series C, 3.00%, 12/01/2060 | 20 | 11 | ||||||
Series E, 4.65%, 12/01/2048 | 10 | 8 | ||||||
Constellation Energy Generation LLC, | ||||||||
5.60%, 06/15/2042 | 70 | 63 | ||||||
5.80%, 03/01/2033 | 20 | 19 | ||||||
Consumers Energy Co., | ||||||||
2.50%, 05/01/2060 | 10 | 5 | ||||||
3.10%, 08/15/2050 | 30 | 19 | ||||||
3.25%, 08/15/2046 | 1,100 | 737 | ||||||
3.75%, 02/15/2050 | 25 | 18 | ||||||
4.20%, 09/01/2052 | 200 | 156 | ||||||
Dominion Energy South Carolina, Inc., 4.60%, 06/15/2043 | 1,400 | 1,165 | ||||||
Dominion Energy, Inc., | ||||||||
3.90%, 10/01/2025 | 220 | 212 | ||||||
4.25%, 06/01/2028 | 20 | 19 | ||||||
Series A, 4.35%, 08/15/2032 | 200 | 179 | ||||||
Series A, 4.60%, 03/15/2049 | 10 | 8 | ||||||
Series B, 4.85%, 08/15/2052 | 245 | 198 | ||||||
Series C, 3.38%, 04/01/2030 | 20 | 17 | ||||||
DTE Electric Co., | ||||||||
2.95%, 03/01/2050 | 25 | 16 | ||||||
3.70%, 03/15/2045 | 1,100 | 794 | ||||||
3.95%, 03/01/2049 | 10 | 7 | ||||||
Series B, 3.25%, 04/01/2051 | 130 | 84 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
DTE Energy Co., | ||||||||
2.85%, 10/01/2026 | 250 | 229 | ||||||
Series C, 3.40%, 06/15/2029 | 19 | 17 | ||||||
Duke Energy Carolinas LLC, | ||||||||
3.55%, 03/15/2052 | 60 | 41 | ||||||
3.95%, 11/15/2028 | 40 | 38 | ||||||
4.95%, 01/15/2033 | 130 | 124 | ||||||
5.30%, 02/15/2040 | 10 | 9 | ||||||
5.35%, 01/15/2053 | 65 | 59 | ||||||
5.40%, 01/15/2054 | 40 | 37 | ||||||
Duke Energy Corp., | ||||||||
0.90%, 09/15/2025 | 40 | 36 | ||||||
2.45%, 06/01/2030 | 110 | 89 | ||||||
2.55%, 06/15/2031 | 10 | 8 | ||||||
2.65%, 09/01/2026 | 30 | 28 | ||||||
3.10%, 06/15/2028 | EUR | 2,150 | 2,136 | |||||
3.50%, 06/15/2051 | 10 | 6 | ||||||
3.75%, 09/01/2046 | 10 | 7 | ||||||
3.85%, 06/15/2034 | EUR | 2,200 | 2,069 | |||||
4.20%, 06/15/2049 | 20 | 15 | ||||||
4.30%, 03/15/2028 | 100 | 95 | ||||||
4.50%, 08/15/2032 | 450 | 405 | ||||||
5.00%, 08/15/2052 | 170 | 141 | ||||||
6.10%, 09/15/2053 | 30 | 29 | ||||||
Duke Energy Florida LLC, | ||||||||
3.00%, 12/15/2051 | 20 | 12 | ||||||
4.20%, 07/15/2048 | 10 | 8 | ||||||
Duke Energy Indiana LLC, | ||||||||
2.75%, 04/01/2050 | 20 | 12 | ||||||
5.40%, 04/01/2053 | 20 | 18 | ||||||
Series YYY, 3.25%, 10/01/2049 | 40 | 25 | ||||||
Duke Energy Ohio, Inc., | ||||||||
2.13%, 06/01/2030 | 30 | 24 | ||||||
3.65%, 02/01/2029 | 10 | 9 | ||||||
4.30%, 02/01/2049 | 80 | 62 | ||||||
Duke Energy Progress LLC, | ||||||||
3.40%, 04/01/2032 | 290 | 247 | ||||||
4.00%, 04/01/2052 | 150 | 109 | ||||||
E.ON International Finance BV, (Netherlands), | ||||||||
Reg. S, 5.88%, 10/30/2037 | GBP | 1,000 | 1,173 | |||||
Reg. S, 6.13%, 07/06/2039 | GBP | 650 | 779 | |||||
E.ON SE, (Germany), | ||||||||
Reg. S, 1.00%, 10/07/2025 | EUR | 100 | 100 | |||||
Reg. S, 3.50%, 01/12/2028 | EUR | 11,000 | 11,433 | |||||
EDP - Energias de Portugal SA, (Portugal), Reg. S, 1.63%, 04/15/2027 | EUR | 200 | 195 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
EDP Finance BV, (Netherlands), Reg. S, 2.00%, 04/22/2025 | EUR | 1,300 | 1,331 | |||||
Electricite de France SA, (France), | ||||||||
Reg. S, 1.00%, 10/13/2026 | EUR | 600 | 582 | |||||
Reg. S, 1.00%, 11/29/2033 | EUR | 100 | 76 | |||||
Reg. S, 1.88%, 10/13/2036 | EUR | 200 | 151 | |||||
Reg. S, 2.00%, 12/09/2049 | EUR | 700 | 402 | |||||
Reg. S, 4.25%, 01/25/2032 | EUR | 400 | 410 | |||||
Reg. S, 4.63%, 01/25/2043 | EUR | 100 | 97 | |||||
Reg. S, 4.75%, 10/12/2034 | EUR | 1,600 | 1,684 | |||||
Reg. S, 5.13%, 09/22/2050 | GBP | 800 | 765 | |||||
Reg. S, 5.50%, 03/27/2037 | GBP | 500 | 542 | |||||
Reg. S, 5.50%, 10/17/2041 | GBP | 1,000 | 1,048 | |||||
5.88%, 07/18/2031 | GBP | 465 | 551 | |||||
Reg. S, 6.00%, 01/23/2114 | GBP | 600 | 602 | |||||
Reg. S, 6.13%, 06/02/2034 | GBP | 600 | 706 | |||||
Reg. S, 6.25%, 05/30/2028 | GBP | 3,000 | 3,705 | |||||
Elia Transmission Belgium SA, (Belgium), Reg. S, 3.63%, 01/18/2033 | EUR | 5,400 | 5,463 | |||||
Emera US Finance LP, 2.64%, 06/15/2031 | 110 | 85 | ||||||
EnBW Energie Baden-Wuerttemberg AG, (Germany), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 1.65%), 1.38%, 08/31/2081 (aa) | EUR | 100 | 84 | |||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.73%), 1.63%, 08/05/2079 (aa) | EUR | 100 | 90 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.32%), 1.88%, 06/29/2080 (aa) | EUR | 100 | 95 | |||||
EnBW International Finance BV, (Netherlands), | ||||||||
Reg. S, 0.13%, 03/01/2028 | EUR | 182 | 166 | |||||
Reg. S, 0.50%, 03/01/2033 | EUR | 97 | 72 | |||||
Reg. S, 0.63%, 04/17/2025 | EUR | 200 | 201 | |||||
Reg. S, 3.50%, 07/24/2028 | EUR | 120 | 124 | |||||
Reg. S, 4.00%, 01/24/2035 | EUR | 100 | 100 | |||||
Reg. S, 4.05%, 11/22/2029 | EUR | 200 | 211 | |||||
Reg. S, 6.13%, 07/07/2039 | EUR | 40 | 49 | |||||
Enel Finance International NV, (Netherlands), | ||||||||
Reg. S, 0.00%, 05/28/2026 | EUR | 1,000 | 949 | |||||
Reg. S, 0.38%, 06/17/2027 | EUR | 1,000 | 927 | |||||
Reg. S, 0.38%, 05/28/2029 | EUR | 8,000 | 6,862 | |||||
Reg. S, 0.50%, 06/17/2030 | EUR | 1,000 | 824 | |||||
Reg. S, 0.88%, 01/17/2031 | EUR | 8,500 | 7,012 | |||||
Reg. S, 0.88%, 09/28/2034 | EUR | 3,000 | 2,172 | |||||
Reg. S, 0.88%, 06/17/2036 | EUR | 6,700 | 4,515 | |||||
Reg. S, 1.00%, 09/16/2024 | EUR | 1,000 | 1,026 | |||||
Reg. S, 1.50%, 07/21/2025 | EUR | 2,000 | 2,021 | |||||
2.25%, 07/12/2031 (e) | 300 | 227 | ||||||
2.65%, 09/10/2024 (e) | 3,500 | 3,386 | ||||||
3.50%, 04/06/2028 (e) | 1,700 | 1,528 | ||||||
Reg. S, 4.50%, 02/20/2043 | EUR | 6,000 | 5,790 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
Enel SpA, (Italy), Series 635, Reg. S, (EUR Swap Rate 5 Year + 2.58%), 3.38%, 08/24/2026 (x) (aa) |
EUR | 5,000 | 4,889 | |||||
e-netz Suedhessen AG, (Germany), 6.13%, 04/23/2041 | EUR | 20 | 24 | |||||
Enexis Holding NV, (Netherlands), | ||||||||
Reg. S, 0.38%, 04/14/2033 | EUR | 200 | 154 | |||||
Reg. S, 0.75%, 07/02/2031 | EUR | 134 | 114 | |||||
Reg. S, 0.88%, 04/28/2026 | EUR | 100 | 98 | |||||
Engie SA, (France), | ||||||||
Reg. S, 0.38%, 06/21/2027 | EUR | 1,000 | 928 | |||||
Reg. S, 0.38%, 10/26/2029 | EUR | 1,000 | 850 | |||||
Reg. S, 1.00%, 10/26/2036 | EUR | 1,000 | 697 | |||||
Reg. S, 1.38%, 03/27/2025 | EUR | 1,000 | 1,016 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.88%), 1.50%, 05/30/2028 (x) (aa) | EUR | 3,000 | 2,601 | |||||
Reg. S, (EUR Swap Rate 5 Year + 1.84%), 1.63%, 04/08/2025 (x) (aa) | EUR | 1,000 | 983 | |||||
Reg. S, 1.75%, 03/27/2028 | EUR | 3,000 | 2,888 | |||||
Reg. S, 2.00%, 09/28/2037 | EUR | 1,000 | 780 | |||||
Reg. S, 2.38%, 05/19/2026 | EUR | 3,000 | 3,040 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.17%), 3.25%, 11/28/2024 (x) (aa) | EUR | 1,800 | 1,846 | |||||
Reg. S, 5.00%, 10/01/2060 | GBP | 4,000 | 4,020 | |||||
Reg. S, 7.00%, 10/30/2028 | GBP | 2,000 | 2,585 | |||||
Entergy Arkansas LLC, 4.20%, 04/01/2049 | 10 | 7 | ||||||
Entergy Corp., | ||||||||
0.90%, 09/15/2025 | 230 | 209 | ||||||
3.75%, 06/15/2050 | 30 | 20 | ||||||
Entergy Louisiana LLC, | ||||||||
1.60%, 12/15/2030 | 2,300 | 1,732 | ||||||
2.35%, 06/15/2032 | 30 | 23 | ||||||
2.90%, 03/15/2051 | 30 | 18 | ||||||
3.12%, 09/01/2027 | 2,500 | 2,290 | ||||||
3.25%, 04/01/2028 | 10 | 9 | ||||||
4.20%, 09/01/2048 | 10 | 8 | ||||||
Entergy Texas, Inc., | ||||||||
4.00%, 03/30/2029 | 15 | 14 | ||||||
5.00%, 09/15/2052 | 200 | 169 | ||||||
5.80%, 09/01/2053 | 10 | 10 | ||||||
ESB Finance DAC, (Ireland), | ||||||||
Reg. S, 1.13%, 06/11/2030 | EUR | 100 | 88 | |||||
Reg. S, 1.88%, 06/14/2031 | EUR | 224 | 203 | |||||
Reg. S, 2.13%, 06/08/2027 | EUR | 100 | 99 | |||||
Reg. S, 3.75%, 01/25/2043 | EUR | 100 | 92 | |||||
Evergy Kansas Central, Inc., 3.45%, 04/15/2050 | 55 | 36 | ||||||
Evergy Metro, Inc., | ||||||||
4.20%, 03/15/2048 | 10 | 7 | ||||||
Series 2019, 4.13%, 04/01/2049 | 20 | 15 | ||||||
Series 2020, 2.25%, 06/01/2030 | 150 | 121 | ||||||
Evergy, Inc., 2.45%, 09/15/2024 | 3,000 | 2,898 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
Eversource Energy, | ||||||||
3.38%, 03/01/2032 | 300 | 249 | ||||||
3.45%, 01/15/2050 | 30 | 20 | ||||||
4.20%, 06/27/2024 | 85 | 84 | ||||||
4.60%, 07/01/2027 | 100 | 96 | ||||||
Series R, 1.65%, 08/15/2030 | 1,410 | 1,080 | ||||||
EWE AG, (Germany), Reg. S, 0.38%, 10/22/2032 | EUR | 90 | 67 | |||||
Exelon Corp., | ||||||||
2.75%, 03/15/2027 | 200 | 182 | ||||||
4.05%, 04/15/2030 | 10 | 9 | ||||||
4.10%, 03/15/2052 | 20 | 14 | ||||||
4.45%, 04/15/2046 | 10 | 8 | ||||||
4.70%, 04/15/2050 | 10 | 8 | ||||||
FirstEnergy Transmission LLC, 4.35%, 01/15/2025 (e) | 1,100 | 1,074 | ||||||
Florida Power & Light Co., | ||||||||
2.45%, 02/03/2032 | 200 | 161 | ||||||
2.88%, 12/04/2051 | 295 | 178 | ||||||
3.15%, 10/01/2049 | 20 | 13 | ||||||
3.95%, 03/01/2048 | 500 | 381 | ||||||
4.13%, 06/01/2048 | 20 | 16 | ||||||
5.30%, 04/01/2053 | 120 | 111 | ||||||
FLUVIUS System Operator CVBA, (Belgium), | ||||||||
Reg. S, 0.63%, 11/24/2031 | EUR | 100 | 80 | |||||
Reg. S, 3.88%, 05/09/2033 | EUR | 100 | 102 | |||||
Reg. S, 4.00%, 07/06/2032 | EUR | 200 | 207 | |||||
Fortum OYJ, (Finland), | ||||||||
Reg. S, 2.13%, 02/27/2029 | EUR | 100 | 94 | |||||
Reg. S, 4.50%, 05/26/2033 | EUR | 200 | 207 | |||||
Georgia Power Co., | ||||||||
4.70%, 05/15/2032 | 2,350 | 2,179 | ||||||
5.13%, 05/15/2052 | 162 | 143 | ||||||
Series A, 3.25%, 03/15/2051 | 20 | 13 | ||||||
Series B, 3.70%, 01/30/2050 | 60 | 42 | ||||||
Hera SpA, (Italy), | ||||||||
Reg. S, 0.25%, 12/03/2030 | EUR | 160 | 126 | |||||
Reg. S, 1.00%, 04/25/2034 | EUR | 200 | 149 | |||||
Iberdrola Finanzas SA, (Spain), | ||||||||
Reg. S, 1.25%, 10/28/2026 | EUR | 2,000 | 1,968 | |||||
Reg. S, 3.63%, 07/13/2033 | EUR | 7,500 | 7,616 | |||||
Iberdrola International BV, (Netherlands), | ||||||||
Series NC5, Reg. S, (EUR Swap Rate 5 Year + 2.32%), 1.87%, 01/28/2026 (x) (aa) | EUR | 3,000 | 2,866 | |||||
Series NC8, Reg. S, (EUR Swap Rate 5 Year + 2.57%), 2.25%, 01/28/2029 (x) (aa) | EUR | 2,000 | 1,732 | |||||
Idaho Power Co., 5.80%, 04/01/2054 | 75 | 72 | ||||||
Ignitis Grupe AB, (Lithuania), Reg. S, 2.00%, 05/21/2030 | EUR | 110 | 97 | |||||
Interstate Power and Light Co., 3.50%, 09/30/2049 | 110 | 72 | ||||||
Iren SpA, (Italy), Reg. S, 1.00%, 07/01/2030 | EUR | 550 | 461 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
ITC Holdings Corp., 4.95%, 09/22/2027 (e) | 1,170 | 1,140 | ||||||
Kentucky Utilities Co., 3.30%, 06/01/2050 | 25 | 16 | ||||||
MidAmerican Energy Co., | ||||||||
2.70%, 08/01/2052 | 15 | 8 | ||||||
3.10%, 05/01/2027 | 10 | 9 | ||||||
6.75%, 12/30/2031 | 10 | 11 | ||||||
Mississippi Power Co., Series B, 3.10%, 07/30/2051 | 40 | 24 | ||||||
National Grid Electricity Distribution East Midlands plc, (United Kingdom), | ||||||||
Reg. S, 3.53%, 09/20/2028 | EUR | 3,000 | 3,055 | |||||
Reg. S, 3.95%, 09/20/2032 | EUR | 2,000 | 2,010 | |||||
Reg. S, 6.25%, 12/10/2040 | GBP | 1,000 | 1,223 | |||||
National Grid Electricity Distribution South Wales plc, (United Kingdom), Series WALE, 5.75%, 03/23/2040 | GBP | 2,000 | 2,326 | |||||
National Grid Electricity Distribution South West plc, (United Kingdom), Reg. S, 5.88%, 03/25/2027 | GBP | 20 | 25 | |||||
National Grid Electricity Transmission plc, (United Kingdom), | ||||||||
Reg. S, 0.19%, 01/20/2025 | EUR | 1,000 | 1,004 | |||||
Reg. S, 2.00%, 04/17/2040 | GBP | 425 | 298 | |||||
National Grid plc, (United Kingdom), | ||||||||
Reg. S, 0.25%, 09/01/2028 | EUR | 1,000 | 869 | |||||
Reg. S, 0.55%, 09/18/2029 | EUR | 3,075 | 2,599 | |||||
Reg. S, 2.18%, 06/30/2026 | EUR | 3,925 | 3,932 | |||||
National Rural Utilities Cooperative Finance Corp., | ||||||||
1.00%, 06/15/2026 | 200 | 178 | ||||||
1.35%, 03/15/2031 | 230 | 168 | ||||||
3.45%, 06/15/2025 | 110 | 106 | ||||||
4.30%, 03/15/2049 | 20 | 15 | ||||||
5.80%, 01/15/2033 | 30 | 30 | ||||||
Naturgy Finance BV, (Netherlands), | ||||||||
Reg. S, 0.75%, 11/28/2029 | EUR | 1,000 | 878 | |||||
Reg. S, 0.88%, 05/15/2025 | EUR | 1,000 | 1,003 | |||||
Reg. S, 1.25%, 01/15/2026 | EUR | 3,900 | 3,871 | |||||
Reg. S, 1.25%, 04/19/2026 | EUR | 1,000 | 988 | |||||
Reg. S, 1.38%, 01/19/2027 | EUR | 1,200 | 1,167 | |||||
Reg. S, 1.50%, 01/29/2028 | EUR | 1,200 | 1,149 | |||||
Reg. S, 1.88%, 10/05/2029 | EUR | 1,000 | 935 | |||||
Nevada Power Co., | ||||||||
6.00%, 03/15/2054 | 35 | 34 | ||||||
Series DD, 2.40%, 05/01/2030 | 100 | 82 | ||||||
Series EE, 3.13%, 08/01/2050 | 30 | 18 | ||||||
NextEra Energy Capital Holdings, Inc., | ||||||||
2.25%, 06/01/2030 | 1,280 | 1,025 | ||||||
2.75%, 11/01/2029 | 35 | 30 | ||||||
3.00%, 01/15/2052 | 100 | 59 | ||||||
4.26%, 09/01/2024 | 230 | 226 | ||||||
4.63%, 07/15/2027 | 200 | 193 | ||||||
5.25%, 02/28/2053 | 850 | 735 | ||||||
5.75%, 09/01/2025 | 60 | 60 | ||||||
6.05%, 03/01/2025 | 610 | 611 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
NIE Finance plc, (United Kingdom), Reg. S, 5.88%, 12/01/2032 | GBP | 100 | 122 | |||||
Northern Powergrid Yorkshire plc, (United Kingdom), Reg. S, 5.13%, 05/04/2035 | GBP | 150 | 170 | |||||
Northern States Power Co., | ||||||||
2.25%, 04/01/2031 | 1,450 | 1,157 | ||||||
2.60%, 06/01/2051 | 35 | 20 | ||||||
3.20%, 04/01/2052 | 30 | 19 | ||||||
4.50%, 06/01/2052 | 10 | 8 | ||||||
5.10%, 05/15/2053 | 40 | 36 | ||||||
NRG Energy, Inc., | ||||||||
2.00%, 12/02/2025 (e) | 2,150 | 1,946 | ||||||
2.45%, 12/02/2027 (e) | 2,275 | 1,929 | ||||||
NSTAR Electric Co., | ||||||||
3.10%, 06/01/2051 | 30 | 19 | ||||||
4.55%, 06/01/2052 | 470 | 381 | ||||||
4.95%, 09/15/2052 | 60 | 51 | ||||||
Oglethorpe Power Corp., 5.05%, 10/01/2048 | 90 | 74 | ||||||
Ohio Power Co., Series R, 2.90%, 10/01/2051 | 15 | 9 | ||||||
Oklahoma Gas and Electric Co., | ||||||||
4.15%, 04/01/2047 | 920 | 686 | ||||||
5.60%, 04/01/2053 | 10 | 9 | ||||||
Oncor Electric Delivery Co. LLC, | ||||||||
3.10%, 09/15/2049 | 50 | 32 | ||||||
3.70%, 05/15/2050 | 5 | 3 | ||||||
4.30%, 05/15/2028 (e) | 140 | 134 | ||||||
4.60%, 06/01/2052 | 15 | 12 | ||||||
4.95%, 09/15/2052 | 150 | 131 | ||||||
Origin Energy Finance Ltd., (Australia), Reg. S, 1.00%, 09/17/2029 | EUR | 5,500 | 5,281 | |||||
Orsted A/S, (Denmark), | ||||||||
Reg. S, 2.13%, 05/17/2027 | GBP | 5,000 | 5,432 | |||||
Reg. S, 2.25%, 06/14/2028 | EUR | 1,000 | 974 | |||||
Reg. S, 5.75%, 04/09/2040 | GBP | 425 | 487 | |||||
Pacific Gas and Electric Co., | ||||||||
3.15%, 01/01/2026 | 335 | 312 | ||||||
3.25%, 06/01/2031 | 40 | 32 | ||||||
3.50%, 08/01/2050 | 40 | 24 | ||||||
3.75%, 07/01/2028 | 10 | 9 | ||||||
3.95%, 12/01/2047 | 900 | 576 | ||||||
4.50%, 07/01/2040 | 300 | 223 | ||||||
4.55%, 07/01/2030 | 30 | 26 | ||||||
4.95%, 07/01/2050 | 420 | 312 | ||||||
5.25%, 03/01/2052 | 100 | 77 | ||||||
6.70%, 04/01/2053 | 20 | 19 | ||||||
6.75%, 01/15/2053 | 50 | 47 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
PacifiCorp., | ||||||||
2.90%, 06/15/2052 | 740 | 407 | ||||||
3.30%, 03/15/2051 | 1,750 | 1,047 | ||||||
4.15%, 02/15/2050 | 15 | 10 | ||||||
5.35%, 12/01/2053 | 5 | 4 | ||||||
5.50%, 05/15/2054 | 110 | 93 | ||||||
PECO Energy Co., | ||||||||
2.80%, 06/15/2050 | 50 | 29 | ||||||
3.05%, 03/15/2051 | 435 | 268 | ||||||
4.60%, 05/15/2052 | 385 | 318 | ||||||
4.90%, 06/15/2033 | 1,680 | 1,599 | ||||||
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, (Indonesia), Reg. S, 1.88%, 11/05/2031 | EUR | 1,000 | 811 | |||||
PPL Capital Funding, Inc., 4.13%, 04/15/2030 | 330 | 296 | ||||||
PPL Electric Utilities Corp., 5.25%, 05/15/2053 | 80 | 73 | ||||||
Public Service Co. of Colorado, | ||||||||
5.25%, 04/01/2053 | 50 | 43 | ||||||
Series 36, 2.70%, 01/15/2051 | 10 | 6 | ||||||
Series 38, 4.10%, 06/01/2032 | 200 | 177 | ||||||
Series 39, 4.50%, 06/01/2052 | 160 | 125 | ||||||
Public Service Electric and Gas Co., | ||||||||
1.90%, 08/15/2031 | 35 | 27 | ||||||
2.05%, 08/01/2050 | 60 | 31 | ||||||
2.45%, 01/15/2030 | 20 | 17 | ||||||
3.10%, 03/15/2032 | 300 | 253 | ||||||
3.65%, 09/01/2028 | 120 | 111 | ||||||
3.85%, 05/01/2049 | 10 | 7 | ||||||
4.65%, 03/15/2033 | 100 | 94 | ||||||
Public Service Enterprise Group, Inc., 0.80%, 08/15/2025 | 3,000 | 2,739 | ||||||
Puget Energy, Inc., | ||||||||
2.38%, 06/15/2028 | 1,040 | 890 | ||||||
4.10%, 06/15/2030 | 10 | 9 | ||||||
4.22%, 03/15/2032 | 200 | 170 | ||||||
Puget Sound Energy, Inc., | ||||||||
2.89%, 09/15/2051 | 10 | 6 | ||||||
3.25%, 09/15/2049 | 20 | 12 | ||||||
Red Electrica Financiaciones SAU, (Spain), Reg. S, 1.13%, 04/24/2025 | EUR | 200 | 203 | |||||
Ren Finance BV, (Netherlands), | ||||||||
Reg. S, 0.50%, 04/16/2029 | EUR | 1,000 | 876 | |||||
Reg. S, 1.75%, 01/18/2028 | EUR | 1,000 | 962 | |||||
RTE Reseau de Transport dElectricite SADIR, (France), | ||||||||
Reg. S, 0.75%, 01/12/2034 | EUR | 100 | 78 | |||||
Reg. S, 1.13%, 07/08/2040 | EUR | 200 | 135 | |||||
Reg. S, 1.13%, 09/09/2049 | EUR | 100 | 57 | |||||
Reg. S, 1.50%, 09/27/2030 | EUR | 100 | 91 | |||||
Reg. S, 1.63%, 11/27/2025 | EUR | 300 | 302 | |||||
Reg. S, 2.00%, 04/18/2036 | EUR | 100 | 84 | |||||
Reg. S, 3.75%, 07/04/2035 | EUR | 100 | 102 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
RWE AG, (Germany), | ||||||||
Reg. S, 2.13%, 05/24/2026 | EUR | 2,000 | 2,014 | |||||
Reg. S, 2.75%, 05/24/2030 | EUR | 2,000 | 1,921 | |||||
Reg. S, 4.13%, 02/13/2035 | EUR | 2,225 | 2,236 | |||||
San Diego Gas & Electric Co., | ||||||||
4.15%, 05/15/2048 | 820 | 623 | ||||||
Series WWW, 2.95%, 08/15/2051 | 25 | 15 | ||||||
Series XXX, 3.00%, 03/15/2032 | 500 | 413 | ||||||
Scottish Hydro Electric Transmission plc, (United Kingdom), Reg. S, 2.13%, 03/24/2036 | GBP | 1,500 | 1,223 | |||||
Sempra, | ||||||||
3.40%, 02/01/2028 | 10 | 9 | ||||||
3.70%, 04/01/2029 | 100 | 90 | ||||||
4.00%, 02/01/2048 | 10 | 7 | ||||||
5.50%, 08/01/2033 | 70 | 67 | ||||||
Sierra Pacific Power Co., 2.60%, 05/01/2026 | 100 | 93 | ||||||
Southern California Edison Co., | ||||||||
2.75%, 02/01/2032 | 100 | 80 | ||||||
2.85%, 08/01/2029 | 10 | 9 | ||||||
3.45%, 02/01/2052 | 310 | 197 | ||||||
3.65%, 02/01/2050 | 80 | 54 | ||||||
4.00%, 04/01/2047 | 20 | 14 | ||||||
4.05%, 03/15/2042 | 900 | 673 | ||||||
5.88%, 12/01/2053 | 50 | 47 | ||||||
6.05%, 03/15/2039 | 10 | 10 | ||||||
Series 20A, 2.95%, 02/01/2051 | 6 | 3 | ||||||
Series B, 3.65%, 03/01/2028 | 25 | 23 | ||||||
Series E, 3.70%, 08/01/2025 | 10 | 10 | ||||||
Series H, 3.65%, 06/01/2051 | 10 | 7 | ||||||
Southern Co. (The), | ||||||||
5.20%, 06/15/2033 | 170 | 161 | ||||||
5.70%, 10/15/2032 | 100 | 98 | ||||||
5.70%, 03/15/2034 | 5 | 5 | ||||||
Series 21-A, 0.60%, 02/26/2024 | 60 | 59 | ||||||
Series 21-A, (CMT Index 5 Year + 2.92%), 3.75%, 09/15/2051 (aa) | 90 | 78 | ||||||
Series A, 3.70%, 04/30/2030 | 95 | 84 | ||||||
Southwestern Electric Power Co., | ||||||||
3.25%, 11/01/2051 | 325 | 195 | ||||||
5.30%, 04/01/2033 | 140 | 132 | ||||||
Series N, 1.65%, 03/15/2026 | 50 | 46 | ||||||
Southwestern Public Service Co., | ||||||||
3.70%, 08/15/2047 | 1,000 | 685 | ||||||
Series 8, 3.15%, 05/01/2050 | 60 | 37 | ||||||
SP Transmission plc, (United Kingdom), Reg. S, 2.00%, 11/13/2031 | GBP | 100 | 96 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
SSE plc, (United Kingdom), | ||||||||
Reg. S, 0.88%, 09/06/2025 | EUR | 2,000 | 1,992 | |||||
Reg. S, 1.25%, 04/16/2025 | EUR | 1,000 | 1,010 | |||||
Reg. S, 1.38%, 09/04/2027 | EUR | 1,000 | 964 | |||||
Reg. S, 6.25%, 08/27/2038 | GBP | 3,000 | 3,642 | |||||
State Grid Overseas Investment BVI Ltd., (British Virgin Islands), Reg. S, 1.30%, 08/05/2032 | EUR | 500 | 402 | |||||
Statkraft A/S, (Norway), Reg. S, 1.50%, 03/26/2030 | EUR | 5,000 | 4,597 | |||||
Stedin Holding NV, (Netherlands), | ||||||||
Reg. S, 0.88%, 10/24/2025 | EUR | 100 | 99 | |||||
Reg. S, 1.38%, 09/19/2028 | EUR | 200 | 188 | |||||
Reg. S, 2.38%, 06/03/2030 | EUR | 200 | 191 | |||||
System Energy Resources, Inc., 6.00%, 04/15/2028 | 385 | 377 | ||||||
Tampa Electric Co., 4.30%, 06/15/2048 | 120 | 91 | ||||||
Tauron Polska Energia SA, (Poland), Reg. S, 2.38%, 07/05/2027 | EUR | 1,000 | 927 | |||||
TenneT Holding BV, (Netherlands), | ||||||||
Reg. S, 0.88%, 06/03/2030 | EUR | 120 | 109 | |||||
Reg. S, 1.00%, 06/13/2026 | EUR | 200 | 199 | |||||
Reg. S, 1.13%, 06/09/2041 | EUR | 100 | 79 | |||||
Reg. S, 1.38%, 06/26/2029 | EUR | 100 | 95 | |||||
Reg. S, 1.63%, 11/17/2026 | EUR | 450 | 454 | |||||
Reg. S, 2.00%, 06/05/2034 | EUR | 100 | 91 | |||||
Reg. S, 2.75%, 05/17/2042 | EUR | 100 | 89 | |||||
Reg. S, 4.50%, 10/28/2034 | EUR | 500 | 556 | |||||
Reg. S, 4.75%, 10/28/2042 | EUR | 100 | 111 | |||||
Terna - Rete Elettrica Nazionale, (Italy), | ||||||||
Reg. S, 0.13%, 07/25/2025 | EUR | 3,900 | 3,840 | |||||
Reg. S, 0.38%, 09/25/2030 | EUR | 825 | 675 | |||||
Reg. S, 0.75%, 07/24/2032 | EUR | 200 | 159 | |||||
Reg. S, 1.00%, 04/10/2026 | EUR | 4,000 | 3,948 | |||||
Reg. S, 1.00%, 10/11/2028 | EUR | 1,000 | 921 | |||||
Reg. S, 1.38%, 07/26/2027 | EUR | 2,125 | 2,049 | |||||
Tucson Electric Power Co., | ||||||||
1.50%, 08/01/2030 | 30 | 23 | ||||||
3.25%, 05/01/2051 | 10 | 6 | ||||||
4.00%, 06/15/2050 | 10 | 7 | ||||||
5.50%, 04/15/2053 | 30 | 27 | ||||||
Union Electric Co., | ||||||||
2.15%, 03/15/2032 | 50 | 39 | ||||||
2.63%, 03/15/2051 | 10 | 6 | ||||||
3.25%, 10/01/2049 | 40 | 25 | ||||||
3.90%, 04/01/2052 | 300 | 219 | ||||||
Vattenfall AB, (Sweden), Reg. S, 3.75%, 10/18/2026 | EUR | 6,000 | 6,304 | |||||
Verbund AG, (Austria), Reg. S, 0.90%, 04/01/2041 | EUR | 100 | 66 | |||||
Virginia Electric and Power Co., | ||||||||
2.95%, 11/15/2051 | 25 | 15 | ||||||
3.30%, 12/01/2049 | 50 | 32 | ||||||
5.45%, 04/01/2053 | 50 | 45 | ||||||
Series B, 3.80%, 09/15/2047 | 60 | 43 | ||||||
Series C, 4.63%, 05/15/2052 | 90 | 73 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Electric continued | ||||||||
Vistra Operations Co. LLC, 3.55%, 07/15/2024 (e) | 1,400 | 1,365 | ||||||
WEC Energy Group, Inc., | ||||||||
3.55%, 06/15/2025 | 47 | 45 | ||||||
5.00%, 09/27/2025 | 300 | 296 | ||||||
Wisconsin Electric Power Co., 1.70%, 06/15/2028 | 10 | 9 | ||||||
Wisconsin Power and Light Co., 3.00%, 07/01/2029 | 50 | 44 | ||||||
Wisconsin Public Service Corp., | ||||||||
2.85%, 12/01/2051 | 20 | 11 | ||||||
3.30%, 09/01/2049 | 55 | 36 | ||||||
Xcel Energy, Inc., | ||||||||
1.75%, 03/15/2027 | 100 | 88 | ||||||
3.40%, 06/01/2030 | 20 | 17 | ||||||
3.50%, 12/01/2049 | 20 | 13 | ||||||
4.60%, 06/01/2032 | 165 | 150 | ||||||
|
|
|||||||
266,356 | ||||||||
|
|
|||||||
Gas 0.5% | ||||||||
APA Infrastructure Ltd., (Australia), | ||||||||
Reg. S, 0.75%, 03/15/2029 | EUR | 4,800 | 4,113 | |||||
Reg. S, 1.25%, 03/15/2033 | EUR | 3,900 | 2,985 | |||||
Reg. S, 2.00%, 03/22/2027 | EUR | 2,000 | 1,942 | |||||
Reg. S, 2.00%, 07/15/2030 | EUR | 1,000 | 882 | |||||
Reg. S, 3.50%, 03/22/2030 | GBP | 2,430 | 2,494 | |||||
Atmos Energy Corp., | ||||||||
1.50%, 01/15/2031 | 1,630 | 1,238 | ||||||
2.63%, 09/15/2029 | 15 | 13 | ||||||
2.85%, 02/15/2052 | 5 | 3 | ||||||
3.38%, 09/15/2049 | 210 | 140 | ||||||
4.15%, 01/15/2043 | 10 | 8 | ||||||
5.75%, 10/15/2052 | 100 | 98 | ||||||
Cadent Finance plc, (United Kingdom), Reg. S, 2.63%, 09/22/2038 | GBP | 1,725 | 1,317 | |||||
CenterPoint Energy Resources Corp., | ||||||||
4.40%, 07/01/2032 | 30 | 27 | ||||||
5.25%, 03/01/2028 | 150 | 148 | ||||||
Centrica plc, (United Kingdom), Reg. S, 4.25%, 09/12/2044 | GBP | 3,000 | 2,757 | |||||
Italgas SpA, (Italy), | ||||||||
Reg. S, 1.00%, 12/11/2031 | EUR | 1,125 | 920 | |||||
Reg. S, 1.13%, 03/14/2024 | EUR | 850 | 887 | |||||
National Gas Transmission plc, (United Kingdom), Reg. S, 1.38%, 02/07/2031 | GBP | 1,600 | 1,412 | |||||
National Grid North America, Inc., | ||||||||
Reg. S, 0.41%, 01/20/2026 | EUR | 2,500 | 2,423 | |||||
Reg. S, 1.00%, 07/12/2024 | EUR | 1,000 | 1,031 | |||||
Nederlandse Gasunie NV, (Netherlands), | ||||||||
Reg. S, 0.75%, 10/13/2036 | EUR | 100 | 70 | |||||
Reg. S, 3.38%, 07/11/2034 | EUR | 100 | 99 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Gas continued | ||||||||
NiSource, Inc., | ||||||||
0.95%, 08/15/2025 | 3,000 | 2,736 | ||||||
3.49%, 05/15/2027 | 130 | 121 | ||||||
3.60%, 05/01/2030 | 25 | 22 | ||||||
4.38%, 05/15/2047 | 15 | 11 | ||||||
4.80%, 02/15/2044 | 10 | 8 | ||||||
5.00%, 06/15/2052 | 110 | 92 | ||||||
5.40%, 06/30/2033 | 50 | 48 | ||||||
ONE Gas, Inc., 4.25%, 09/01/2032 | 120 | 108 | ||||||
Piedmont Natural Gas Co., Inc., | ||||||||
2.50%, 03/15/2031 | 1,550 | 1,222 | ||||||
3.35%, 06/01/2050 | 15 | 9 | ||||||
5.05%, 05/15/2052 | 610 | 504 | ||||||
Redexis Gas Finance BV, (Netherlands), Reg. S, 1.88%, 05/28/2025 | EUR | 1,300 | 1,317 | |||||
Snam SpA, (Italy), | ||||||||
Reg. S, 0.00%, 08/15/2025 | EUR | 2,000 | 1,958 | |||||
Reg. S, 0.00%, 12/07/2028 | EUR | 500 | 427 | |||||
Reg. S, 0.75%, 06/20/2029 | EUR | 3,175 | 2,760 | |||||
Reg. S, 0.75%, 06/17/2030 | EUR | 1,500 | 1,258 | |||||
Southern California Gas Co., | ||||||||
Series VV, 4.30%, 01/15/2049 | 20 | 15 | ||||||
Series WW, 3.95%, 02/15/2050 | 200 | 142 | ||||||
Southern Co. Gas Capital Corp., | ||||||||
3.95%, 10/01/2046 | 20 | 14 | ||||||
5.15%, 09/15/2032 | 100 | 94 | ||||||
5.75%, 09/15/2033 | 50 | 49 | ||||||
Series 20-A, 1.75%, 01/15/2031 | 3,700 | 2,794 | ||||||
Series 21A, 3.15%, 09/30/2051 | 15 | 9 | ||||||
Southern Gas Networks plc, (United Kingdom), | ||||||||
Reg. S, 2.50%, 02/03/2025 | GBP | 825 | 964 | |||||
6.38%, 05/15/2040 | GBP | 825 | 972 | |||||
Southwest Gas Corp., | ||||||||
4.05%, 03/15/2032 | 205 | 177 | ||||||
4.15%, 06/01/2049 | 10 | 7 | ||||||
SPP-Distribucia A/S, (Slovakia), Reg. S, 1.00%, 06/09/2031 | EUR | 100 | 73 | |||||
Vier Gas Transport GmbH, (Germany), Reg. S, 0.50%, 09/10/2034 | EUR | 1,200 | 837 | |||||
Wales & West Utilities Finance plc, (United Kingdom), Reg. S, 1.88%, 05/28/2041 | GBP | 825 | 558 | |||||
Washington Gas Light Co., 3.65%, 09/15/2049 | 10 | 7 | ||||||
|
|
|||||||
44,320 | ||||||||
|
|
|||||||
Water 0.2% | ||||||||
Affinity Water Finance 2004 plc, (United Kingdom), 5.88%, 07/13/2026 | GBP | 30 | 36 | |||||
American Water Capital Corp., | ||||||||
4.15%, 06/01/2049 | 60 | 47 | ||||||
4.45%, 06/01/2032 | 330 | 305 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued |
||||||||
Water continued | ||||||||
Essential Utilities, Inc., | ||||||||
2.40%, 05/01/2031 | 100 | 78 | ||||||
2.70%, 04/15/2030 | 40 | 33 | ||||||
5.30%, 05/01/2052 | 10 | 8 | ||||||
Northumbrian Water Finance plc, (United Kingdom), | ||||||||
Reg. S, 1.63%, 10/11/2026 | GBP | 825 | 885 | |||||
Reg. S, 5.13%, 01/23/2042 | GBP | 1,000 | 1,039 | |||||
Reg. S, 5.63%, 04/29/2033 | GBP | 425 | 491 | |||||
Thames Water Utilities Finance plc, (United Kingdom), | ||||||||
Reg. S, 2.38%, 04/22/2040 | GBP | 300 | 196 | |||||
Reg. S, 5.50%, 02/11/2041 | GBP | 1,050 | 1,036 | |||||
6.75%, 11/16/2028 | GBP | 380 | 448 | |||||
United Utilities Water Finance plc, (United Kingdom), Reg. S, 2.00%, 07/03/2033 | GBP | 900 | 786 | |||||
Veolia Environnement SA, (France), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.15%), 1.63%, 06/01/2026 (x) (aa) | EUR | 8,000 | 7,382 | |||||
Wessex Water Services Finance plc, (United Kingdom), | ||||||||
Reg. S, 1.50%, 09/17/2029 | GBP | 2,700 | 2,528 | |||||
Reg. S, 5.38%, 03/10/2028 | GBP | 2,425 | 2,864 | |||||
|
|
|||||||
18,162 | ||||||||
|
|
|||||||
Total Utilities | 328,838 | |||||||
|
|
|||||||
Total Corporate Bonds (Cost $4,391,985) |
4,133,104 | |||||||
|
|
|||||||
Foreign Government Securities 31.8% | ||||||||
Action Logement Services, (France), |
||||||||
Reg. S, 0.38%, 10/05/2031 |
EUR | 400 | 329 | |||||
Reg. S, 3.13%, 09/28/2037 |
EUR | 300 | 283 | |||||
Reg. S, 3.63%, 05/25/2043 |
EUR | 100 | 97 | |||||
Adif Alta Velocidad, (Spain), |
||||||||
Reg. S, 0.55%, 04/30/2030 |
EUR | 100 | 85 | |||||
Reg. S, 0.95%, 04/30/2027 |
EUR | 200 | 192 | |||||
Reg. S, 1.88%, 01/28/2025 |
EUR | 100 | 103 | |||||
Reg. S, 3.50%, 07/30/2029 |
EUR | 200 | 205 | |||||
Agence Francaise de Developpement EPIC, (France), |
||||||||
Reg. S, 0.13%, 09/29/2031 |
EUR | 300 | 240 | |||||
Reg. S, 0.25%, 07/21/2026 |
EUR | 500 | 482 | |||||
Reg. S, 0.25%, 06/29/2029 |
EUR | 400 | 350 | |||||
Reg. S, 0.38%, 05/25/2036 |
EUR | 100 | 68 | |||||
Reg. S, 0.50%, 05/25/2030 |
EUR | 200 | 173 | |||||
Reg. S, 0.50%, 05/31/2035 |
EUR | 500 | 365 | |||||
Reg. S, 1.50%, 10/31/2034 |
EUR | 900 | 761 | |||||
Reg. S, 1.63%, 05/25/2032 |
EUR | 200 | 180 | |||||
Reg. S, 3.38%, 05/25/2033 |
EUR | 500 | 511 | |||||
Reg. S, 3.50%, 02/25/2033 |
EUR | 100 | 104 | |||||
Agence France Locale, (France), |
||||||||
Reg. S, 0.00%, 09/20/2027 |
EUR | 500 | 459 | |||||
Reg. S, 0.00%, 03/20/2031 |
EUR | 100 | 80 | |||||
Reg. S, 0.13%, 06/20/2026 |
EUR | 400 | 385 | |||||
Reg. S, 0.20%, 03/20/2029 |
EUR | 400 | 352 | |||||
Reg. S, 1.13%, 06/20/2028 | EUR | 1,000 | 944 | |||||
Reg. S, 3.63%, 06/20/2038 | EUR | 100 | 100 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Agricultural Development Bank of China, (China), | ||||||||
2.91%, 02/21/2029 | CNY | 18,000 | 2,481 | |||||
Reg. S, 3.40%, 11/06/2024 | CNH | 56,000 | 7,711 | |||||
Reg. S, 3.80%, 10/27/2030 | CNH | 14,350 | 2,072 | |||||
Series 1618, 3.58%, 04/22/2026 | CNY | 29,000 | 4,073 | |||||
Series 1705, 3.85%, 01/06/2027 | CNY | 26,500 | 3,772 | |||||
Series 1806, 4.65%, 05/11/2028 | CNY | 8,100 | 1,202 | |||||
Series 1901, 3.75%, 01/25/2029 | CNY | 61,300 | 8,799 | |||||
Series 1906, 3.74%, 07/12/2029 | CNY | 61,500 | 8,831 | |||||
Series 1908, 3.63%, 07/19/2026 | CNY | 172,000 | 24,234 | |||||
Series 2004, 2.96%, 04/17/2030 | CNY | 99,400 | 13,703 | |||||
Series 2005, 2.25%, 04/22/2025 | CNY | 140,800 | 19,199 | |||||
Series 2008, 3.45%, 09/23/2025 | CNY | 17,000 | 2,368 | |||||
Series 2105, 3.52%, 05/24/2031 | CNY | 34,400 | 4,916 | |||||
Series 2108, 2.99%, 08/11/2026 | CNY | 66,000 | 9,152 | |||||
Series 2110, 3.30%, 11/05/2031 | CNY | 65,700 | 9,254 | |||||
Series 2202, 2.74%, 02/23/2027 | CNY | 29,900 | 4,113 | |||||
Series 2203, 2.61%, 03/09/2025 | CNY | 5,000 | 686 | |||||
Series 2205, 3.06%, 06/06/2032 | CNY | 61,400 | 8,496 | |||||
Series 2206, 2.46%, 07/27/2025 | CNY | 6,000 | 821 | |||||
Series 2207, 2.50%, 08/24/2027 | CNY | 50,000 | 6,811 | |||||
Series 2210, 2.97%, 10/14/2032 | CNY | 56,500 | 7,771 | |||||
Series 2302, 2.58%, 03/23/2025 | CNY | 8,000 | 1,096 | |||||
Series 2302, 3.10%, 02/27/2033 | CNY | 24,000 | 3,335 | |||||
Andorra International Bond, (Andorra), | ||||||||
Reg. S, 1.25%, 02/23/2027 | EUR | 800 | 763 | |||||
Reg. S, 1.25%, 05/06/2031 | EUR | 1,000 | 839 | |||||
Auckland Council, (New Zealand), | ||||||||
Reg. S, 0.13%, 09/26/2029 | EUR | 200 | 172 | |||||
Reg. S, 0.25%, 11/17/2031 | EUR | 200 | 161 | |||||
Reg. S, 1.00%, 01/19/2027 | EUR | 300 | 292 | |||||
Reg. S, 1.50%, 11/28/2025 | CHF | 300 | 326 | |||||
Australia Government Bond, (Australia), | ||||||||
Series 138, Reg. S, 3.25%, 04/21/2029 | AUD | 200 | 123 | |||||
Series 139, Reg. S, 3.25%, 04/21/2025 | AUD | 1,475 | 935 | |||||
Series 144, Reg. S, 3.75%, 04/21/2037 | AUD | 60 | 35 | |||||
Series 149, Reg. S, 2.25%, 05/21/2028 | AUD | 1,340 | 794 | |||||
Series 150, Reg. S, 3.00%, 03/21/2047 | AUD | 46 | 22 | |||||
Series 152, Reg. S, 2.75%, 11/21/2028 | AUD | 428 | 258 | |||||
Series 154, Reg. S, 2.75%, 11/21/2029 | AUD | 105 | 62 | |||||
Series 155, Reg. S, 2.50%, 05/21/2030 | AUD | 3,465 | 2,000 | |||||
Series 156, Reg. S, 2.75%, 05/21/2041 | AUD | 450 | 219 | |||||
Series 158, 1.25%, 05/21/2032 | AUD | 290 | 144 | |||||
Series 159, Reg. S, 0.25%, 11/21/2024 | AUD | 192 | 118 | |||||
Series 160, Reg. S, 1.00%, 12/21/2030 | AUD | 200 | 102 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Series 161, Reg. S, 0.25%, 11/21/2025 | AUD | 620 | 368 | |||||
Series 162, Reg. S, 1.75%, 06/21/2051 | AUD | 360 | 122 | |||||
Series 164, Reg. S, 0.50%, 09/21/2026 | AUD | 100 | 58 | |||||
Series 165, Reg. S, 1.75%, 11/21/2032 | AUD | 220 | 113 | |||||
Series 166, Reg. S, 3.00%, 11/21/2033 | AUD | 170 | 96 | |||||
Series 167, Reg. S, 3.75%, 05/21/2034 | AUD | 40 | 24 | |||||
Series 168, Reg. S, 3.50%, 12/21/2034 | AUD | 60 | 35 | |||||
Autobahnen- und Schnell- strassen-Finanzierungs AG, (Austria), | ||||||||
Reg. S, 0.10%, 07/09/2029 | EUR | 500 | 440 | |||||
Reg. S, 2.75%, 06/11/2032 | EUR | 100 | 101 | |||||
Reg. S, 2.75%, 06/20/2033 | EUR | 130 | 129 | |||||
Autonomous Community of Andalusia Spain, (Spain), | ||||||||
Reg. S, 0.50%, 04/30/2031 | EUR | 363 | 296 | |||||
Reg. S, 1.38%, 04/30/2029 | EUR | 30 | 28 | |||||
Autonomous Community of Catalonia, (Spain), 4.22%, 04/26/2035 | EUR | 100 | 100 | |||||
Autonomous Community of Madrid Spain, (Spain), | ||||||||
Reg. S, 0.42%, 04/30/2030 | EUR | 161 | 136 | |||||
Reg. S, 1.57%, 04/30/2029 | EUR | 200 | 188 | |||||
Reg. S, 1.72%, 04/30/2032 | EUR | 110 | 97 | |||||
Reg. S, 1.77%, 04/30/2028 | EUR | 200 | 194 | |||||
Reg. S, 1.83%, 04/30/2025 | EUR | 270 | 277 | |||||
Reg. S, 2.82%, 10/31/2029 | EUR | 100 | 100 | |||||
Reg. S, 3.60%, 04/30/2033 | EUR | 200 | 204 | |||||
4.30%, 09/15/2026 | EUR | 500 | 536 | |||||
Bangko Sentral ng Pilipinas International Bond, (Philippines), Series A, 8.60%, 06/15/2027 | 300 | 336 | ||||||
Basque Government, (Spain), | ||||||||
Reg. S, 0.25%, 04/30/2031 | EUR | 100 | 81 | |||||
Reg. S, 0.45%, 04/30/2032 | EUR | 200 | 159 | |||||
Reg. S, 0.85%, 04/30/2030 | EUR | 50 | 44 | |||||
Reg. S, 1.75%, 03/16/2026 | EUR | 170 | 172 | |||||
Reg. S, 3.50%, 04/30/2033 | EUR | 100 | 101 | |||||
Bermuda Government International Bond, (Bermuda), 2.38%, 08/20/2030 (e) | 670 | 541 | ||||||
BNG Bank NV, (Netherlands), | ||||||||
Reg. S, 0.00%, 01/20/2031 | EUR | 200 | 165 | |||||
Reg. S, 0.10%, 01/15/2030 | EUR | 320 | 276 | |||||
Reg. S, 0.13%, 04/11/2026 | EUR | 530 | 515 | |||||
Reg. S, 0.13%, 04/19/2033 | EUR | 700 | 541 | |||||
Reg. S, 0.13%, 07/09/2035 | EUR | 230 | 164 | |||||
Reg. S, 0.20%, 11/09/2024 | EUR | 550 | 559 | |||||
Reg. S, 0.38%, 12/15/2025 | GBP | 1,900 | 2,086 | |||||
Reg. S, 0.81%, 06/28/2049 | EUR | 200 | 107 | |||||
Reg. S, 0.88%, 10/17/2035 | EUR | 100 | 78 | |||||
Reg. S, 0.88%, 10/24/2036 | EUR | 160 | 122 | |||||
Reg. S, 1.25%, 03/30/2037 | EUR | 100 | 79 | |||||
Reg. S, 1.50%, 03/29/2038 | EUR | 190 | 152 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 1.50%, 07/15/2039 | EUR | 170 | 132 | |||||
Reg. S, 1.88%, 07/13/2032 | EUR | 320 | 298 | |||||
Reg. S, 2.75%, 10/04/2027 | EUR | 910 | 941 | |||||
Reg. S, 3.00%, 02/23/2028 | EUR | 600 | 625 | |||||
Reg. S, 3.00%, 01/11/2033 | EUR | 500 | 508 | |||||
Reg. S, 3.50%, 09/27/2038 | EUR | 300 | 308 | |||||
Bonos de la Tesoreria de la Republica en pesos, (Chile), Reg. S, 4.70%, 09/01/2030 (e) | CLP | 300,000 | 310 | |||||
Bpifrance SACA, (France), | ||||||||
Reg. S, 0.13%, 03/25/2025 | EUR | 400 | 401 | |||||
Reg. S, 0.25%, 03/29/2030 | EUR | 200 | 171 | |||||
Reg. S, 0.25%, 06/04/2031 | EUR | 200 | 165 | |||||
Reg. S, 0.63%, 05/25/2026 | EUR | 500 | 490 | |||||
Reg. S, 0.88%, 09/26/2028 | EUR | 200 | 186 | |||||
Reg. S, 2.13%, 11/29/2027 | EUR | 200 | 200 | |||||
Reg. S, 2.88%, 11/25/2029 | EUR | 500 | 509 | |||||
Reg. S, 3.00%, 09/10/2026 | EUR | 200 | 208 | |||||
Reg. S, 3.38%, 11/25/2032 | EUR | 200 | 208 | |||||
Bulgaria Government International Bond, (Bulgaria), | ||||||||
Reg. S, 1.38%, 09/23/2050 | EUR | 1,300 | 714 | |||||
Reg. S, 2.95%, 09/03/2024 | EUR | 800 | 835 | |||||
Reg. S, 4.13%, 09/23/2029 | EUR | 1,000 | 1,031 | |||||
Reg. S, 4.50%, 01/27/2033 | EUR | 6,000 | 6,117 | |||||
Reg. S, 4.63%, 09/23/2034 | EUR | 1,000 | 1,021 | |||||
Series 12YR, Reg. S, 3.00%, 03/21/2028 | EUR | 800 | 810 | |||||
Bundesobligation, (Germany), | ||||||||
Series 180, Reg. S, 0.00%, 10/18/2024 | EUR | 2,006 | 2,045 | |||||
Series 181, Reg. S, 0.00%, 04/11/2025 | EUR | 3,890 | 3,913 | |||||
Series 182, Reg. S, 0.00%, 10/10/2025 | EUR | 2,300 | 2,284 | |||||
Series 183, Reg. S, 0.00%, 04/10/2026 | EUR | 10,266 | 10,072 | |||||
Series 184, Reg. S, 0.00%, 10/09/2026 | EUR | 500 | 485 | |||||
Series 185, Reg. S, 0.00%, 04/16/2027 | EUR | 2,083 | 1,995 | |||||
Series 186, Reg. S, 1.30%, 10/15/2027 | EUR | 250 | 249 | |||||
Series 187, Reg. S, 2.20%, 04/13/2028 | EUR | 3,120 | 3,218 | |||||
Bundesrepublik Deutschland Bundesanleihe, (Germany), | ||||||||
Reg. S, 0.00%, 08/15/2026 | EUR | 3,270 | 3,183 | |||||
Reg. S, 0.00%, 11/15/2027 | EUR | 7,381 | 6,970 | |||||
Reg. S, 0.00%, 11/15/2028 | EUR | 2,985 | 2,750 | |||||
Reg. S, 0.00%, 08/15/2029 | EUR | 2,432 | 2,198 | |||||
Reg. S, 0.00%, 02/15/2030 | EUR | 8,543 | 7,620 | |||||
Reg. S, 0.00%, 08/15/2030 | EUR | 1,540 | 1,355 | |||||
Reg. S, 0.00%, 02/15/2031 | EUR | 1,589 | 1,379 | |||||
Reg. S, 0.00%, 08/15/2031 | EUR | 2,260 | 1,933 | |||||
Reg. S, 0.00%, 02/15/2032 | EUR | 5,569 | 4,693 | |||||
Reg. S, 0.00%, 05/15/2035 | EUR | 2,559 | 1,938 | |||||
Reg. S, 0.00%, 05/15/2036 | EUR | 2,870 | 2,106 | |||||
Reg. S, 0.00%, 08/15/2050 | EUR | 3,101 | 1,502 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 0.00%, 08/15/2052 | EUR | 2,515 | 1,146 | |||||
Reg. S, 0.25%, 02/15/2027 | EUR | 3,310 | 3,211 | |||||
Reg. S, 0.25%, 08/15/2028 | EUR | 4,092 | 3,843 | |||||
Reg. S, 0.25%, 02/15/2029 | EUR | 1,270 | 1,179 | |||||
Reg. S, 0.50%, 02/15/2025 | EUR | 7,959 | 8,094 | |||||
Reg. S, 0.50%, 02/15/2026 | EUR | 2,447 | 2,439 | |||||
Reg. S, 0.50%, 08/15/2027 | EUR | 2,810 | 2,725 | |||||
Reg. S, 0.50%, 02/15/2028 | EUR | 5,790 | 5,561 | |||||
Reg. S, 1.00%, 08/15/2025 | EUR | 4,291 | 4,357 | |||||
Reg. S, 1.00%, 05/15/2038 | EUR | 3,910 | 3,168 | |||||
Reg. S, 1.25%, 08/15/2048 | EUR | 5,028 | 3,723 | |||||
Reg. S, 1.70%, 08/15/2032 | EUR | 2,310 | 2,240 | |||||
Reg. S, 1.80%, 08/15/2053 | EUR | 2,710 | 2,183 | |||||
Reg. S, 2.10%, 11/15/2029 | EUR | 180 | 183 | |||||
Reg. S, 2.30%, 02/15/2033 | EUR | 7,860 | 7,976 | |||||
Reg. S, 2.50%, 07/04/2044 | EUR | 2,181 | 2,124 | |||||
Reg. S, 2.50%, 08/15/2046 | EUR | 3,996 | 3,873 | |||||
Reg. S, 3.25%, 07/04/2042 | EUR | 3,176 | 3,461 | |||||
Reg. S, 4.00%, 01/04/2037 | EUR | 1,493 | 1,756 | |||||
Reg. S, 4.25%, 07/04/2039 | EUR | 1,934 | 2,359 | |||||
Reg. S, 4.75%, 07/04/2034 | EUR | 2,921 | 3,619 | |||||
Reg. S, 4.75%, 07/04/2040 | EUR | 2,014 | 2,610 | |||||
Reg. S, 5.50%, 01/04/2031 | EUR | 900 | 1,121 | |||||
Reg. S, 5.63%, 01/04/2028 | EUR | 780 | 917 | |||||
Reg. S, 6.25%, 01/04/2030 | EUR | 1,025 | 1,300 | |||||
Reg. S, 6.50%, 07/04/2027 | EUR | 1,410 | 1,678 | |||||
Series 7Y, Reg. S, 2.40%, 11/15/2030 | EUR | 2,150 | 2,218 | |||||
Series 10Y, Reg. S, 2.60%, 08/15/2033 | EUR | 240 | 249 | |||||
Series G, Reg. S, 0.00%, 08/15/2030 | EUR | 1,320 | 1,163 | |||||
Series G, Reg. S, 0.00%, 08/15/2031 | EUR | 2,410 | 2,062 | |||||
Series G, Reg. S, 0.00%, 08/15/2050 | EUR | 852 | 414 | |||||
Series G, Reg. S, 1.80%, 08/15/2053 | EUR | 1,830 | 1,478 | |||||
Series G Reg. S, 2.30%, 02/15/2033 | EUR | 1,850 | 1,878 | |||||
Bundesschatzanweisungen, (Germany), | ||||||||
Reg. S, 0.40%, 09/13/2024 | EUR | 3,130 | 3,212 | |||||
Reg. S, 2.20%, 12/12/2024 | EUR | 2,340 | 2,437 | |||||
Caisse dAmortissement de la Dette Sociale, (France), | ||||||||
Reg. S, 0.00%, 02/25/2028 | EUR | 200 | 182 | |||||
Reg. S, 0.00%, 05/25/2029 | EUR | 500 | 437 | |||||
Reg. S, 0.00%, 11/25/2030 | EUR | 900 | 746 | |||||
Reg. S, 0.00%, 05/25/2031 | EUR | 400 | 326 | |||||
Reg. S, 0.13%, 09/15/2031 | EUR | 300 | 244 | |||||
Reg. S, 0.45%, 01/19/2032 | EUR | 400 | 331 | |||||
Reg. S, 0.60%, 11/25/2029 | EUR | 600 | 536 | |||||
Reg. S, 1.50%, 05/25/2032 | EUR | 400 | 361 | |||||
Reg. S, 1.75%, 11/25/2027 | EUR | 700 | 693 | |||||
Reg. S, 2.75%, 11/25/2032 | EUR | 400 | 397 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 2.88%, 05/25/2027 | EUR | 700 | 725 | |||||
Reg. S, 3.00%, 05/25/2028 | EUR | 800 | 830 | |||||
Reg. S, 3.00%, 11/25/2031 | EUR | 300 | 306 | |||||
Reg. S, 3.13%, 03/01/2030 | EUR | 1,000 | 1,038 | |||||
Reg. S, 4.00%, 12/15/2025 | EUR | 1,383 | 1,474 | |||||
Caisse des Depots et Consignations, (France), | ||||||||
Reg. S, 3.00%, 05/25/2028 | EUR | 500 | 519 | |||||
Reg. S, 3.13%, 05/25/2033 | EUR | 200 | 204 | |||||
Caisse Francaise de Financement Local, (France), | ||||||||
Reg. S, 0.01%, 05/07/2025 | EUR | 100 | 99 | |||||
Reg. S, 0.13%, 06/30/2031 | EUR | 100 | 81 | |||||
Reg. S, 0.38%, 06/23/2025 | EUR | 100 | 100 | |||||
Reg. S, 0.50%, 01/16/2025 | EUR | 100 | 101 | |||||
Reg. S, 0.50%, 01/19/2026 | EUR | 100 | 98 | |||||
Reg. S, 0.50%, 10/01/2046 | EUR | 100 | 53 | |||||
Reg. S, 1.00%, 04/25/2028 | EUR | 100 | 94 | |||||
Reg. S, 1.25%, 05/11/2032 | EUR | 100 | 87 | |||||
Reg. S, 1.50%, 06/28/2038 | EUR | 100 | 78 | |||||
Reg. S, 3.00%, 10/02/2028 | EUR | 5,000 | 5,128 | |||||
Canadian Government Bond, (Canada), | ||||||||
1.00%, 06/01/2027 | CAD | 200 | 131 | |||||
1.25%, 03/01/2025 | CAD | 1,115 | 780 | |||||
1.50%, 06/01/2031 | CAD | 600 | 367 | |||||
1.75%, 12/01/2053 | CAD | 400 | 186 | |||||
2.00%, 06/01/2032 | CAD | 600 | 375 | |||||
2.00%, 12/01/2051 | CAD | 530 | 267 | |||||
3.50%, 03/01/2028 | CAD | 500 | 356 | |||||
3.50%, 12/01/2045 | CAD | 2,090 | 1,442 | |||||
4.00%, 06/01/2041 | CAD | 150 | 111 | |||||
Canton of Geneva Switzerland, (Switzerland), Reg. S, 0.02%, 11/27/2024 | CHF | 240 | 257 | |||||
Canton of Zurich, (Switzerland), Reg. S, 0.10%, 06/23/2045 | CHF | 50 | 39 | |||||
Cassa Depositi e Prestiti SpA, (Italy), | ||||||||
Reg. S, 1.00%, 09/21/2028 | EUR | 300 | 267 | |||||
Reg. S, 2.00%, 04/20/2027 | EUR | 100 | 98 | |||||
Reg. S, 3.88%, 02/13/2029 | EUR | 200 | 204 | |||||
CDP Financial, Inc., (Canada), | ||||||||
Reg. S, 1.13%, 04/06/2027 | EUR | 6,000 | 5,813 | |||||
5.60%, 11/25/2039 (e) | 250 | 247 | ||||||
Chile Government International Bond, (Chile), | ||||||||
0.10%, 01/26/2027 | EUR | 5,000 | 4,614 | |||||
0.83%, 07/02/2031 | EUR | 1,050 | 854 | |||||
1.25%, 01/22/2051 | EUR | 6,900 | 3,520 | |||||
1.30%, 07/26/2036 | EUR | 1,000 | 729 | |||||
2.55%, 01/27/2032 | 200 | 162 | ||||||
2.55%, 07/27/2033 | 200 | 154 | ||||||
3.10%, 01/22/2061 | 510 | 291 | ||||||
3.50%, 01/31/2034 | 200 | 165 | ||||||
4.13%, 07/05/2034 | EUR | 4,047 | 4,054 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
China Development Bank, (China), | ||||||||
Reg. S, 2.95%, 07/19/2027 | CNH | 15,000 | 2,055 | |||||
Reg. S, 3.23%, 11/27/2025 | CNH | 10,000 | 1,383 | |||||
Reg. S, 4.20%, 01/19/2027 | CNH | 13,000 | 1,854 | |||||
Reg. S, 4.30%, 08/02/2032 | CNH | 7,000 | 1,041 | |||||
Reg. S, 4.35%, 08/06/2024 | CNH | 7,000 | 969 | |||||
Reg. S, 4.35%, 09/19/2024 | CNH | 1,000 | 138 | |||||
Reg. S, 4.50%, 11/13/2028 | CNH | 2,500 | 368 | |||||
Series 1510, 4.21%, 04/13/2025 | CNY | 73,000 | 10,246 | |||||
Series 1518, 3.74%, 09/10/2025 | CNY | 62,700 | 8,781 | |||||
Series 1605, 3.80%, 01/25/2036 | CNY | 98,000 | 14,535 | |||||
Series 1710, 4.04%, 04/10/2027 | CNY | 114,900 | 16,474 | |||||
Series 1904, 3.68%, 02/26/2026 | CNY | 63,500 | 8,929 | |||||
Series 1905, 3.48%, 01/08/2029 | CNY | 192,200 | 27,238 | |||||
Series 1909, 3.50%, 08/13/2026 | CNY | 86,100 | 12,094 | |||||
Series 1910, 3.65%, 05/21/2029 | CNY | 181,900 | 25,999 | |||||
Series 1915, 3.45%, 09/20/2029 | CNY | 105,000 | 14,883 | |||||
Series 2003, 3.23%, 01/10/2025 | CNY | 164,300 | 22,706 | |||||
Series 2004, 3.43%, 01/14/2027 | CNY | 30,000 | 4,219 | |||||
Series 2005, 3.07%, 03/10/2030 | CNY | 38,800 | 5,381 | |||||
Series 2008, 2.89%, 06/22/2025 | CNY | 20,000 | 2,756 | |||||
Series 2015, 3.70%, 10/20/2030 | CNY | 18,000 | 2,604 | |||||
Series 2104, 3.40%, 01/08/2028 | CNY | 4,000 | 564 | |||||
Series 2105, 3.66%, 03/01/2031 | CNY | 79,300 | 11,451 | |||||
Series 2110, 3.41%, 06/07/2031 | CNY | 77,200 | 10,933 | |||||
Series 2115, 3.12%, 09/13/2031 | CNY | 34,500 | 4,794 | |||||
Series 2202, 2.59%, 03/17/2025 | CNY | 7,500 | 1,028 | |||||
Series 2204, 2.99%, 03/01/2029 | CNY | 4,000 | 553 | |||||
Series 2205, 3.00%, 01/17/2032 | CNY | 190,200 | 26,244 | |||||
Series 2210, 2.98%, 04/22/2032 | CNY | 32,200 | 4,431 | |||||
Series 2215, 2.96%, 07/18/2032 | CNY | 11,000 | 1,514 | |||||
Series 2220, 2.77%, 10/24/2032 | CNY | 64,000 | 8,670 | |||||
China Government Bond, (China), | ||||||||
2.18%, 08/25/2025 | CNY | 47,000 | 6,415 | |||||
2.24%, 05/25/2025 | CNY | 25,000 | 3,417 | |||||
2.28%, 11/25/2025 | CNY | 20,000 | 2,735 | |||||
2.37%, 01/20/2027 | CNY | 250,000 | 34,096 | |||||
2.48%, 04/15/2027 | CNY | 134,300 | 18,376 | |||||
2.60%, 09/01/2032 | CNY | 88,800 | 12,004 | |||||
2.62%, 09/25/2029 | CNY | 4,000 | 545 | |||||
2.68%, 05/21/2030 | CNY | 489,700 | 66,853 | |||||
2.69%, 08/12/2026 | CNY | 190,500 | 26,278 | |||||
2.75%, 06/15/2029 | CNY | 132,500 | 18,217 | |||||
2.75%, 02/17/2032 | CNY | 118,900 | 16,267 | |||||
2.79%, 12/15/2029 | CNY | 5,400 | 743 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
2.80%, 03/24/2029 | CNY | 204,000 | 28,144 | |||||
2.80%, 11/15/2032 | CNY | 64,600 | 8,875 | |||||
Reg. S, 2.82%, 08/12/2032 | CNY | 10,000 | 1,364 | |||||
2.85%, 06/04/2027 | CNY | 347,800 | 48,185 | |||||
2.89%, 11/18/2031 | CNY | 189,000 | 26,157 | |||||
3.02%, 05/27/2031 | CNY | 14,200 | 1,986 | |||||
3.19%, 04/15/2053 | CNY | 5,000 | 709 | |||||
3.27%, 03/25/2073 | CNY | 109,170 | 15,534 | |||||
Reg. S, 3.31%, 11/30/2025 | CNH | 2,000 | 278 | |||||
3.32%, 04/15/2052 | CNY | 52,100 | 7,465 | |||||
Reg. S, 3.38%, 11/21/2024 | CNH | 3,000 | 415 | |||||
Reg. S, 3.38%, 07/04/2026 | CNH | 24,000 | 3,356 | |||||
3.39%, 03/16/2050 | CNY | 177,140 | 25,517 | |||||
3.53%, 10/18/2051 | CNY | 124,200 | 18,400 | |||||
Reg. S, 3.60%, 06/27/2028 | CNH | 26,500 | 3,762 | |||||
Reg. S, 3.60%, 05/21/2030 | CNH | 8,500 | 1,219 | |||||
3.72%, 04/12/2051 | CNY | 106,000 | 16,205 | |||||
3.73%, 05/25/2070 | CNY | 18,670 | 2,941 | |||||
3.81%, 09/14/2050 | CNY | 89,100 | 13,792 | |||||
Reg. S, 3.85%, 12/12/2026 | CNH | 19,000 | 2,698 | |||||
Reg. S, 3.90%, 07/04/2036 | CNH | 13,500 | 1,997 | |||||
Reg. S, 4.00%, 05/22/2024 | CNH | 8,500 | 1,175 | |||||
Reg. S, 4.00%, 11/30/2035 | CNH | 30,500 | 4,562 | |||||
Reg. S, 4.15%, 12/04/2027 | CNH | 20,000 | 2,890 | |||||
Reg. S, 4.15%, 12/12/2031 | CNH | 3,000 | 450 | |||||
Reg. S, 4.29%, 05/22/2029 | CNH | 3,000 | 442 | |||||
Reg. S, 4.40%, 12/12/2046 | CNH | 26,000 | 4,137 | |||||
Series 1908, 4.00%, 06/24/2069 | CNY | 5,000 | 832 | |||||
Series 2216, 2.50%, 07/25/2027 | CNY | 25,000 | 3,419 | |||||
Series INBK, 1.99%, 04/09/2025 | CNY | 413,700 | 56,300 | |||||
China Government International Bond, (China), | ||||||||
Reg. S, 0.13%, 11/12/2026 | EUR | 3,700 | 3,485 | |||||
Reg. S, 0.50%, 11/12/2031 | EUR | 3,250 | 2,680 | |||||
City of Milan Italy, (Italy), 4.02%, 06/29/2035 | EUR | 40 | 38 | |||||
City of Montreal Canada, (Canada), 2.30%, 09/01/2029 | CAD | 600 | 385 | |||||
City of Quebec Canada, (Canada), | ||||||||
2.10%, 07/06/2031 | CAD | 300 | 178 | |||||
2.65%, 12/20/2027 | CAD | 565 | 380 | |||||
City of Toronto Canada, (Canada), | ||||||||
2.60%, 09/24/2039 | CAD | 300 | 159 | |||||
2.95%, 04/28/2035 | CAD | 200 | 121 | |||||
Colombia Government International Bond, (Colombia), 9.85%, 06/28/2027 | COP | 500,000 | 115 | |||||
Communaute Francaise de Belgique, (Belgium), | ||||||||
Reg. S, 1.63%, 05/03/2032 | EUR | 200 | 179 | |||||
Reg. S, 3.75%, 06/22/2033 | EUR | 100 | 105 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
CPPIB Capital, Inc., (Canada), | ||||||||
Reg. S, 0.25%, 04/06/2027 | EUR | 2,550 | 2,402 | |||||
Reg. S, 0.25%, 01/18/2041 | EUR | 2,500 | 1,432 | |||||
Reg. S, 0.38%, 06/20/2024 | EUR | 300 | 309 | |||||
Reg. S, 0.75%, 07/15/2049 | EUR | 600 | 320 | |||||
Reg. S, 1.63%, 10/22/2071 | GBP | 2,000 | 899 | |||||
Croatia Government International Bond, (Croatia), | ||||||||
Reg. S, 1.13%, 06/19/2029 | EUR | 300 | 270 | |||||
Reg. S, 1.50%, 06/17/2031 | EUR | 770 | 679 | |||||
Reg. S, 1.75%, 03/04/2041 | EUR | 500 | 355 | |||||
Reg. S, 3.00%, 03/20/2027 | EUR | 300 | 309 | |||||
Cyprus Government International Bond, (Cyprus), | ||||||||
Reg. S, 0.63%, 12/03/2024 | EUR | 347 | 353 | |||||
Reg. S, 0.63%, 01/21/2030 | EUR | 235 | 203 | |||||
Reg. S, 0.95%, 01/20/2032 | EUR | 300 | 249 | |||||
Reg. S, 1.25%, 01/21/2040 | EUR | 720 | 474 | |||||
Reg. S, 2.25%, 04/16/2050 | EUR | 10 | 7 | |||||
Reg. S, 4.13%, 04/13/2033 | EUR | 360 | 381 | |||||
Czech Republic Government Bond, (Czech Republic), | ||||||||
Series 49, Reg. S, 4.20%, 12/04/2036 | CZK | 5,390 | 220 | |||||
Series 53, Reg. S, 4.85%, 11/26/2057 | CZK | 2,340 | 99 | |||||
Series 58, Reg. S, 5.70%, 05/25/2024 | CZK | 140 | 6 | |||||
Series 78, Reg. S, 2.50%, 08/25/2028 | CZK | 16,760 | 655 | |||||
Series 89, Reg. S, 2.40%, 09/17/2025 | CZK | 16,910 | 695 | |||||
Series 94, Reg. S, 0.95%, 05/15/2030 | CZK | 17,380 | 592 | |||||
Series 95, Reg. S, 1.00%, 06/26/2026 | CZK | 6,860 | 268 | |||||
Series 97, Reg. S, 0.45%, 10/25/2023 | CZK | 12,000 | 517 | |||||
Series 100, 0.25%, 02/10/2027 | CZK | 60,340 | 2,247 | |||||
Series 103, 2.00%, 10/13/2033 | CZK | 20,000 | 679 | |||||
Series 105, 2.75%, 07/23/2029 | CZK | 5,810 | 226 | |||||
Series 120, 1.25%, 02/14/2025 | CZK | 11,950 | 487 | |||||
Series 121, 1.20%, 03/13/2031 | CZK | 27,250 | 921 | |||||
Series 125, 1.50%, 04/24/2040 | CZK | 8,640 | 233 | |||||
Series 130, 0.05%, 11/29/2029 | CZK | 13,030 | 425 | |||||
Series 138, 1.75%, 06/23/2032 | CZK | 20,400 | 699 | |||||
Series 142, 1.95%, 07/30/2037 | CZK | 12,960 | 402 | |||||
Series 148, 6.00%, 02/26/2026 | CZK | 5,910 | 263 | |||||
Series 149, 5.50%, 12/12/2028 | CZK | 10,640 | 478 | |||||
Series 150, 5.00%, 09/30/2030 | CZK | 15,000 | 659 | |||||
Denmark Government Bond, (Denmark), | ||||||||
0.25%, 11/15/2052 | DKK | 5,921 | 383 | |||||
0.50%, 11/15/2027 | DKK | 5,478 | 703 | |||||
0.50%, 11/15/2029 | DKK | 13,494 | 1,654 | |||||
1.75%, 11/15/2025 | DKK | 5,460 | 751 | |||||
4.50%, 11/15/2039 | DKK | 10,830 | 1,786 | |||||
7.00%, 11/10/2024 | DKK | 1,470 | 216 | |||||
Series G, 0.00%, 11/15/2031 | DKK | 960 | 107 | |||||
Series TWIN, 0.00%, 11/15/2031 | DKK | 12,807 | 1,430 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Development Bank of Japan, Inc., (Japan), | ||||||||
Reg. S, 0.88%, 10/10/2025 | EUR | 1,000 | 995 | |||||
Reg. S, 2.13%, 09/01/2026 | EUR | 1,000 | 1,010 | |||||
4.75%, 11/26/2027 | EUR | 900 | 992 | |||||
Series 86, 0.24%, 10/13/2027 | JPY | 100,000 | 665 | |||||
Estonia Government International Bond, (Estonia), Reg. S, 0.13%, 06/10/2030 | EUR | 200 | 165 | |||||
European Financial Stability Facility, (Luxembourg), | ||||||||
Reg. S, 0.00%, 10/13/2027 | EUR | 4,325 | 4,000 | |||||
Reg. S, 0.00%, 01/20/2031 | EUR | 9,600 | 7,951 | |||||
Reg. S, 0.05%, 10/17/2029 | EUR | 9,000 | 7,820 | |||||
Reg. S, 0.05%, 01/18/2052 | EUR | 1,000 | 384 | |||||
Reg. S, 0.40%, 02/17/2025 | EUR | 1,000 | 1,012 | |||||
Reg. S, 0.50%, 07/11/2025 | EUR | 8,000 | 8,022 | |||||
Reg. S, 0.63%, 10/16/2026 | EUR | 100 | 97 | |||||
Reg. S, 0.70%, 01/20/2050 | EUR | 2,500 | 1,319 | |||||
Reg. S, 0.70%, 01/17/2053 | EUR | 10,000 | 4,906 | |||||
Reg. S, 0.75%, 05/03/2027 | EUR | 15,000 | 14,496 | |||||
Reg. S, 0.88%, 04/10/2035 | EUR | 15,900 | 12,557 | |||||
Reg. S, 1.20%, 02/17/2045 | EUR | 2,325 | 1,556 | |||||
Reg. S, 1.38%, 05/31/2047 | EUR | 10,000 | 6,741 | |||||
Reg. S, 1.45%, 09/05/2040 | EUR | 10,370 | 7,880 | |||||
Reg. S, 1.50%, 12/15/2025 | EUR | 13,000 | 13,185 | |||||
Reg. S, 1.70%, 02/13/2043 | EUR | 1,900 | 1,449 | |||||
Reg. S, 1.75%, 07/17/2053 | EUR | 2,050 | 1,389 | |||||
Reg. S, 2.00%, 02/28/2056 | EUR | 2,000 | 1,427 | |||||
Reg. S, 2.38%, 04/11/2028 | EUR | 15,000 | 15,206 | |||||
Reg. S, 2.38%, 06/21/2032 | EUR | 5,000 | 4,866 | |||||
Reg. S, 2.75%, 08/17/2026 | EUR | 15,000 | 15,558 | |||||
Reg. S, 2.75%, 12/03/2029 | EUR | 1,020 | 1,043 | |||||
Reg. S, 3.00%, 12/15/2028 | EUR | 1,000 | 1,039 | |||||
Reg. S, 3.38%, 04/03/2037 | EUR | 3,000 | 3,073 | |||||
European Stability Mechanism, (Supranational), | ||||||||
Reg. S, 0.00%, 12/15/2026 | EUR | 10,500 | 9,989 | |||||
Reg. S, 0.01%, 03/04/2030 | EUR | 1,900 | 1,627 | |||||
Reg. S, 0.01%, 10/15/2031 | EUR | 8,900 | 7,214 | |||||
Reg. S, 0.50%, 03/02/2026 | EUR | 5,600 | 5,525 | |||||
Reg. S, 0.50%, 03/05/2029 | EUR | 6,000 | 5,466 | |||||
Reg. S, 0.75%, 09/05/2028 | EUR | 2,750 | 2,571 | |||||
Reg. S, 0.88%, 07/18/2042 | EUR | 1,020 | 656 | |||||
Reg. S, 1.00%, 09/23/2025 | EUR | 15,000 | 15,115 | |||||
Reg. S, 1.00%, 06/23/2027 | EUR | 5,000 | 4,856 | |||||
Reg. S, 1.75%, 10/20/2045 | EUR | 1,050 | 779 | |||||
Reg. S, 1.80%, 11/02/2046 | EUR | 10,420 | 7,761 | |||||
Reg. S, 1.85%, 12/01/2055 | EUR | 180 | 121 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
European Union, (Supranational), | ||||||||
Reg. S, 0.00%, 07/06/2026 | EUR | 10,350 | 9,986 | |||||
Reg. S, 0.00%, 10/04/2028 | EUR | 1,800 | 1,614 | |||||
Reg. S, 0.00%, 04/22/2031 | EUR | 5,800 | 4,779 | |||||
Reg. S, 0.00%, 07/04/2031 | EUR | 30,000 | 24,459 | |||||
Reg. S, 0.25%, 04/22/2036 | EUR | 12,900 | 9,080 | |||||
Reg. S, 0.40%, 02/04/2037 | EUR | 10,000 | 7,014 | |||||
Reg. S, 0.45%, 07/04/2041 | EUR | 19,800 | 11,928 | |||||
Reg. S, 0.50%, 04/04/2025 | EUR | 3,575 | 3,611 | |||||
Reg. S, 0.70%, 07/06/2051 | EUR | 5,900 | 2,991 | |||||
Reg. S, 0.75%, 04/04/2031 | EUR | 3,925 | 3,444 | |||||
Reg. S, 0.80%, 07/04/2025 | EUR | 20,700 | 20,856 | |||||
Reg. S, 1.00%, 07/06/2032 | EUR | 5,800 | 5,016 | |||||
Reg. S, 1.13%, 04/04/2036 | EUR | 1,265 | 1,010 | |||||
Reg. S, 1.38%, 10/04/2029 | EUR | 8,000 | 7,565 | |||||
Reg. S, 1.50%, 10/04/2035 | EUR | 5,000 | 4,222 | |||||
Reg. S, 1.63%, 12/04/2029 | EUR | 31,600 | 30,205 | |||||
Reg. S, 2.00%, 10/04/2027 | EUR | 10,000 | 10,039 | |||||
Reg. S, 2.50%, 10/04/2052 | EUR | 26,000 | 20,966 | |||||
Reg. S, 2.63%, 02/04/2048 | EUR | 16,000 | 13,861 | |||||
Reg. S, 2.75%, 10/05/2026 | EUR | 20,000 | 20,749 | |||||
Reg. S, 3.38%, 04/04/2032 | EUR | 1,200 | 1,266 | |||||
Reg. S, 3.38%, 04/04/2038 | EUR | 4,000 | 4,063 | |||||
Reg. S, 3.38%, 10/04/2038 | EUR | 30,000 | 30,022 | |||||
Reg. S, 3.38%, 11/04/2042 | EUR | 20,000 | 19,664 | |||||
Reg. S, 3.75%, 04/04/2042 | EUR | 5,015 | 5,258 | |||||
Series MFA, Reg. S, 3.00%, 03/04/2053 | EUR | 8,000 | 7,117 | |||||
Series SURE, Reg. S, 0.00%, 11/04/2025 | EUR | 5,198 | 5,130 | |||||
Series SURE, Reg. S, 0.00%, 06/02/2028 | EUR | 5,500 | 5,001 | |||||
Series SURE, Reg. S, 0.00%, 10/04/2030 | EUR | 10,000 | 8,408 | |||||
Series SURE, Reg. S, 0.00%, 07/04/2035 | EUR | 20,800 | 14,544 | |||||
Series SURE, Reg. S, 0.10%, 10/04/2040 | EUR | 7,675 | 4,473 | |||||
Series SURE, Reg. S, 0.20%, 06/04/2036 | EUR | 9,600 | 6,672 | |||||
Series SURE, Reg. S, 0.30%, 11/04/2050 | EUR | 1,220 | 552 | |||||
Series SURE, Reg. S, 0.45%, 05/02/2046 | EUR | 5,000 | 2,699 | |||||
Series SURE, Reg. S, 0.75%, 01/04/2047 | EUR | 5,000 | 2,899 | |||||
Series SURE, Reg. S, 1.13%, 06/04/2037 | EUR | 5,000 | 3,860 | |||||
Export Development Canada, (Canada), | ||||||||
Reg. S, 0.50%, 02/25/2027 | EUR | 2,000 | 1,918 | |||||
Reg. S, 2.88%, 01/19/2028 | EUR | 10,000 | 10,359 | |||||
Export-Import Bank of China (The), (China), | ||||||||
Series 1514, 3.87%, 09/14/2025 | CNY | 29,000 | 4,076 | |||||
Series 1603, 3.33%, 02/22/2026 | CNY | 15,000 | 2,091 | |||||
Series 1610, 3.18%, 09/05/2026 | CNY | 10,000 | 1,395 | |||||
Series 1703, 4.11%, 03/20/2027 | CNY | 14,000 | 2,012 | |||||
Series 1910, 3.86%, 05/20/2029 | CNY | 97,800 | 14,119 | |||||
Series 2005, 2.93%, 03/02/2025 | CNY | 95,600 | 13,182 | |||||
Series 2007, 3.26%, 02/24/2027 | CNY | 74,400 | 10,404 | |||||
Series 2010, 3.23%, 03/23/2030 | CNY | 39,400 | 5,518 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Series 2011, 3.74%, 11/16/2030 | CNY | 10,000 | 1,448 | |||||
Series 2015, 3.43%, 10/23/2025 | CNY | 71,000 | 9,895 | |||||
Series 2110, 3.38%, 07/16/2031 | CNY | 4,000 | 567 | |||||
Series 2203, 2.57%, 06/10/2025 | CNY | 13,000 | 1,781 | |||||
Series 2205, 2.61%, 01/27/2027 | CNY | 40,000 | 5,481 | |||||
Series 2210, 3.18%, 03/11/2032 | CNY | 123,600 | 17,262 | |||||
Series 2211, 2.90%, 08/19/2032 | CNY | 57,600 | 7,875 | |||||
Series 2213, 2.64%, 12/05/2025 | CNY | 7,400 | 1,016 | |||||
Series 2215, 2.82%, 06/17/2027 | CNY | 19,000 | 2,619 | |||||
Series 2310, 3.10%, 02/13/2033 | CNY | 23,800 | 3,307 | |||||
Export-Import Bank of Korea, (South Korea), | ||||||||
Reg. S, 2.60%, 11/08/2023 | AUD | 1,100 | 706 | |||||
5.13%, 09/18/2033 | 230 | 224 | ||||||
Reg. S, 8.00%, 05/15/2024 | IDR | 400,000 | 26 | |||||
Finland Government Bond, (Finland), | ||||||||
Reg. S, 0.00%, 09/15/2026 (e) | EUR | 350 | 336 | |||||
Reg. S, 0.00%, 09/15/2030 (e) | EUR | 510 | 431 | |||||
Reg. S, 0.13%, 09/15/2031 (e) | EUR | 755 | 622 | |||||
Reg. S, 0.13%, 04/15/2036 (e) | EUR | 280 | 194 | |||||
Reg. S, 0.13%, 04/15/2052 (e) | EUR | 450 | 190 | |||||
Reg. S, 0.25%, 09/15/2040 (e) | EUR | 384 | 234 | |||||
Reg. S, 0.50%, 04/15/2026 (e) | EUR | 1,440 | 1,422 | |||||
Reg. S, 0.50%, 09/15/2027 (e) | EUR | 660 | 629 | |||||
Reg. S, 0.50%, 09/15/2028 (e) | EUR | 1,190 | 1,103 | |||||
Reg. S, 0.50%, 09/15/2029 (e) | EUR | 80 | 72 | |||||
Reg. S, 0.50%, 04/15/2043 (e) | EUR | 500 | 299 | |||||
Reg. S, 0.75%, 04/15/2031 (e) | EUR | 321 | 283 | |||||
Reg. S, 0.88%, 09/15/2025 (e) | EUR | 430 | 433 | |||||
Reg. S, 1.13%, 04/15/2034 (e) | EUR | 421 | 355 | |||||
Reg. S, 1.38%, 04/15/2027 (e) | EUR | 160 | 159 | |||||
Reg. S, 1.50%, 09/15/2032 (e) | EUR | 1,300 | 1,179 | |||||
Reg. S, 2.63%, 07/04/2042 (e) | EUR | 675 | 619 | |||||
Reg. S, 2.75%, 07/04/2028 (e) | EUR | 960 | 996 | |||||
Reg. S, 2.75%, 04/15/2038 (e) | EUR | 540 | 514 | |||||
Reg. S, 3.00%, 09/15/2033 (e) | EUR | 620 | 632 | |||||
Reg. S, 4.00%, 07/04/2025 (e) | EUR | 780 | 833 | |||||
Series 30Y, Reg. S, 1.38%, 04/15/2047 (e) | EUR | 717 | 498 | |||||
Finnvera OYJ, (Finland), | ||||||||
Reg. S, 0.38%, 04/09/2029 | EUR | 300 | 270 | |||||
Reg. S, 0.75%, 08/07/2028 | EUR | 1,500 | 1,403 | |||||
Reg. S, 2.13%, 03/08/2028 | EUR | 300 | 301 | |||||
Fondo De Titulizacion Del Deficit Del Sistema Electrico FTA, (Spain), | ||||||||
Reg. S, 0.01%, 09/17/2025 | EUR | 100 | 98 | |||||
Reg. S, 0.85%, 12/17/2023 | EUR | 1,000 | 1,050 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Free and Hanseatic City of Hamburg, (Germany), | ||||||||
Reg. S, 0.00%, 04/07/2026 | EUR | 280 | 271 | |||||
Reg. S, 0.01%, 06/30/2028 | EUR | 180 | 163 | |||||
0.01%, 11/05/2035 | EUR | 70 | 49 | |||||
Reg. S, 0.20%, 09/03/2049 | EUR | 70 | 31 | |||||
Reg. S, 0.25%, 02/18/2041 | EUR | 394 | 235 | |||||
Free State of Bavaria, (Germany), Reg. S, 0.01%, 01/18/2035 | EUR | 352 | 254 | |||||
Free State of Saxony, (Germany), | ||||||||
Reg. S, 0.01%, 11/05/2029 | EUR | 197 | 171 | |||||
Series 132, Reg. S, 0.01%, 12/17/2035 | EUR | 210 | 145 | |||||
French Republic Government Bond OAT, (France), | ||||||||
Reg. S, 0.00%, 02/25/2025 | EUR | 6,620 | 6,672 | |||||
Reg. S, 0.00%, 03/25/2025 | EUR | 5,030 | 5,057 | |||||
Reg. S, 0.00%, 02/25/2026 | EUR | 7,430 | 7,275 | |||||
Reg. S, 0.00%, 02/25/2027 | EUR | 7,205 | 6,850 | |||||
Reg. S, 0.00%, 11/25/2029 | EUR | 9,655 | 8,432 | |||||
Reg. S, 0.00%, 11/25/2030 | EUR | 3,747 | 3,162 | |||||
Reg. S, 0.00%, 11/25/2031 | EUR | 5,604 | 4,563 | |||||
Reg. S, 0.00%, 05/25/2032 | EUR | 3,990 | 3,188 | |||||
Reg. S, 0.25%, 11/25/2026 | EUR | 4,076 | 3,936 | |||||
Reg. S, 0.50%, 05/25/2025 | EUR | 6,943 | 7,002 | |||||
Reg. S, 0.50%, 05/25/2026 | EUR | 3,759 | 3,704 | |||||
Reg. S, 0.50%, 05/25/2029 | EUR | 3,547 | 3,243 | |||||
Reg. S, 0.50%, 05/25/2040 (e) | EUR | 5,014 | 3,206 | |||||
Reg. S, 0.50%, 06/25/2044 (e) | EUR | 1,702 | 963 | |||||
Reg. S, 0.50%, 05/25/2072 (e) | EUR | 1,203 | 397 | |||||
Reg. S, 0.75%, 02/25/2028 | EUR | 9,480 | 9,050 | |||||
Reg. S, 0.75%, 05/25/2028 | EUR | 7,363 | 6,990 | |||||
Reg. S, 0.75%, 11/25/2028 | EUR | 5,055 | 4,747 | |||||
Reg. S, 0.75%, 05/25/2052 (e) | EUR | 4,457 | 2,223 | |||||
Reg. S, 0.75%, 05/25/2053 (e) | EUR | 5,058 | 2,459 | |||||
Reg. S, 1.00%, 11/25/2025 | EUR | 4,960 | 5,000 | |||||
Reg. S, 1.00%, 05/25/2027 | EUR | 3,898 | 3,819 | |||||
Reg. S, 1.25%, 05/25/2034 | EUR | 5,852 | 4,984 | |||||
Reg. S, 1.25%, 05/25/2036 (e) | EUR | 6,764 | 5,476 | |||||
Reg. S, 1.25%, 05/25/2038 | EUR | 3,740 | 2,878 | |||||
Reg. S, 1.50%, 05/25/2031 | EUR | 4,223 | 3,955 | |||||
Reg. S, 1.50%, 05/25/2050 (e) | EUR | 4,021 | 2,622 | |||||
Reg. S, 1.75%, 11/25/2024 | EUR | 1,760 | 1,823 | |||||
Reg. S, 1.75%, 06/25/2039 (e) | EUR | 2,597 | 2,131 | |||||
Reg. S, 1.75%, 05/25/2066 (e) | EUR | 2,466 | 1,509 | |||||
Reg. S, 2.00%, 11/25/2032 | EUR | 8,910 | 8,442 | |||||
Reg. S, 2.00%, 05/25/2048 (e) | EUR | 3,527 | 2,661 | |||||
Reg. S, 2.50%, 09/24/2026 | EUR | 3,110 | 3,221 | |||||
Reg. S, 2.50%, 05/25/2030 | EUR | 10,991 | 11,159 | |||||
Reg. S, 2.50%, 05/25/2043 (e) | EUR | 3,240 | 2,813 | |||||
Reg. S, 2.75%, 10/25/2027 | EUR | 5,509 | 5,737 | |||||
Reg. S, 3.00%, 05/25/2033 | EUR | 2,080 | 2,131 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 3.00%, 05/25/2054 (e) | EUR | 1,810 | 1,610 | |||||
Reg. S, 3.25%, 05/25/2045 | EUR | 3,425 | 3,334 | |||||
Reg. S, 3.50%, 04/25/2026 | EUR | 536 | 570 | |||||
Reg. S, 4.00%, 10/25/2038 | EUR | 2,618 | 2,877 | |||||
Reg. S, 4.00%, 04/25/2055 (e) | EUR | 1,031 | 1,113 | |||||
Reg. S, 4.00%, 04/25/2060 | EUR | 1,968 | 2,127 | |||||
Reg. S, 4.50%, 04/25/2041 | EUR | 2,492 | 2,891 | |||||
Reg. S, 4.75%, 04/25/2035 | EUR | 1,867 | 2,202 | |||||
Reg. S, 5.50%, 04/25/2029 | EUR | 2,037 | 2,405 | |||||
Reg. S, 5.75%, 10/25/2032 | EUR | 1,029 | 1,290 | |||||
Reg. S, 6.00%, 10/25/2025 | EUR | 1,290 | 1,435 | |||||
Gemeinsame Deutsche Bundeslaender, (Germany), | ||||||||
Series 58, Reg. S, 0.00%, 02/19/2027 | EUR | 220 | 208 | |||||
Series 60, Reg. S, 0.01%, 02/04/2031 | EUR | 146 | 121 | |||||
Series 62, Reg. S, 1.25%, 05/04/2029 | EUR | 580 | 549 | |||||
Gestion Securite de Stocks Securite SA, (France), Reg. S, 3.38%, 06/29/2030 | EUR | 300 | 312 | |||||
HM Treasury UK Sovereign Sukuk plc, (United Kingdom), Reg. S, 0.33%, 07/22/2026 | GBP | 900 | 975 | |||||
Hong Kong Government Bond Programme, (Hong Kong), 1.97%, 01/17/2029 | HKD | 200 | 23 | |||||
Hong Kong Government International Bond, (Hong Kong), | ||||||||
Reg. S, 2.80%, 11/30/2024 | CNH | 5,000 | 685 | |||||
Reg. S, 2.95%, 06/07/2028 | CNH | 8,500 | 1,169 | |||||
Reg. S, 3.00%, 11/30/2026 | CNH | 10,000 | 1,376 | |||||
Hungary Government Bond, (Hungary), | ||||||||
Series 24/C, 2.50%, 10/24/2024 | HUF | 281,740 | 719 | |||||
Series 26/E, 1.50%, 04/22/2026 | HUF | 352,910 | 818 | |||||
Series 26/D, 2.75%, 12/22/2026 | HUF | 80,210 | 186 | |||||
Series 27/A, 3.00%, 10/27/2027 | HUF | 194,780 | 445 | |||||
Series 28/B, 4.50%, 03/23/2028 | HUF | 73,760 | 177 | |||||
Series 28/A, 6.75%, 10/22/2028 | HUF | 75,000 | 197 | |||||
Series 29/A, 2.00%, 05/23/2029 | HUF | 200,000 | 414 | |||||
Series 30/A, 3.00%, 08/21/2030 | HUF | 297,350 | 623 | |||||
Series 32/A, 4.75%, 11/24/2032 | HUF | 58,400 | 131 | |||||
Series 33/A, 2.25%, 04/20/2033 | HUF | 194,590 | 354 | |||||
Series 34/A, 2.25%, 06/22/2034 | HUF | 100,520 | 175 | |||||
Series 38/A, 3.00%, 10/27/2038 | HUF | 82,470 | 137 | |||||
Series 41/A, 3.00%, 04/25/2041 | HUF | 27,170 | 42 | |||||
Hungary Government International Bond, (Hungary), | ||||||||
Reg. S, 0.50%, 11/18/2030 | EUR | 1,000 | 754 | |||||
Reg. S, 1.63%, 04/28/2032 | EUR | 1,000 | 782 | |||||
Reg. S, 1.75%, 10/10/2027 | EUR | 825 | 779 | |||||
Reg. S, 1.75%, 06/05/2035 | EUR | 5,000 | 3,552 | |||||
Hydro-Quebec, (Canada), | ||||||||
6.00%, 02/15/2040 | CAD | 300 | 246 | |||||
SUB, 8.40%, 03/28/2025 | 600 | 621 | ||||||
SUB, 8.91%, 11/18/2024 | 800 | 827 | ||||||
Series HK, 9.38%, 04/15/2030 | 500 | 608 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Ile-de-France Mobilites, (France), | ||||||||
Reg. S, 0.40%, 05/28/2031 | EUR | 300 | 250 | |||||
Reg. S, 0.68%, 11/24/2036 | EUR | 100 | 70 | |||||
Reg. S, 1.00%, 05/25/2034 | EUR | 300 | 241 | |||||
Reg. S, 1.28%, 02/14/2042 | EUR | 100 | 67 | |||||
Reg. S, 3.05%, 02/03/2033 | EUR | 100 | 100 | |||||
Reg. S, 3.40%, 05/25/2043 | EUR | 100 | 95 | |||||
Indonesia Government International Bond, (Indonesia), | ||||||||
0.90%, 02/14/2027 | EUR | 3,102 | 2,911 | |||||
1.10%, 03/12/2033 | EUR | 1,000 | 760 | |||||
1.85%, 03/12/2031 | 234 | 181 | ||||||
Reg. S, 2.15%, 07/18/2024 | EUR | 2,050 | 2,124 | |||||
3.35%, 03/12/2071 | 200 | 120 | ||||||
Reg. S, 3.38%, 07/30/2025 | EUR | 7,000 | 7,264 | |||||
Reg. S, 3.75%, 06/14/2028 | EUR | 1,000 | 1,034 | |||||
4.65%, 09/20/2032 | 600 | 560 | ||||||
Indonesia Treasury Bond, (Indonesia), | ||||||||
Series FR56, 8.38%, 09/15/2026 | IDR | 3,269,000 | 222 | |||||
Series FR65, 6.63%, 05/15/2033 | IDR | 400,000 | 26 | |||||
Series FR67, 8.75%, 02/15/2044 | IDR | 2,074,000 | 161 | |||||
Series FR75, 7.50%, 05/15/2038 | IDR | 1,300,000 | 88 | |||||
Series FR82, 7.00%, 09/15/2030 | IDR | 229,000 | 15 | |||||
Series FR86, 5.50%, 04/15/2026 | IDR | 600,000 | 38 | |||||
Series FR87, 6.50%, 02/15/2031 | IDR | 800,000 | 51 | |||||
Series FR91, 6.38%, 04/15/2032 | IDR | 3,200,000 | 202 | |||||
Series FR95, 6.38%, 08/15/2028 | IDR | 1,000,000 | 64 | |||||
Series FR96, 7.00%, 02/15/2033 | IDR | 1,000,000 | 65 | |||||
Industrial Bank of Korea, (South Korea), Reg. S, 0.02%, 07/16/2025 | CHF | 300 | 316 | |||||
Instituto de Credito Oficial, (Spain), | ||||||||
Reg. S, 0.00%, 04/30/2027 | EUR | 500 | 465 | |||||
Reg. S, 2.65%, 01/31/2028 | EUR | 100 | 101 | |||||
International Bank for Reconstruction & Development, (Supranational), | ||||||||
0.00%, 01/15/2027 | EUR | 2,125 | 2,013 | |||||
Zero Coupon, 07/15/2029 | 38 | 28 | ||||||
Zero Coupon, 10/31/2030 | 1,000 | 688 | ||||||
0.10%, 09/17/2035 | EUR | 1,475 | 1,039 | |||||
Reg. S, 0.20%, 01/21/2061 | EUR | 1,000 | 317 | |||||
0.25%, 09/23/2027 | GBP | 2,900 | 2,960 | |||||
0.25%, 05/21/2029 | EUR | 5,000 | 4,459 | |||||
0.38%, 07/28/2025 | 50 | 46 | ||||||
0.50%, 10/28/2025 | 2,100 | 1,911 | ||||||
0.50%, 06/21/2035 | EUR | 50 | 38 | |||||
0.65%, 02/10/2026 | 750 | 675 | ||||||
Reg. S, 0.70%, 10/22/2046 | EUR | 2,000 | 1,143 | |||||
0.88%, 12/13/2024 | GBP | 2,050 | 2,369 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
1.00%, 12/21/2029 | GBP | 2,000 | 1,966 | |||||
1.20%, 08/08/2034 | EUR | 9,000 | 7,565 | |||||
1.63%, 01/15/2025 | 475 | 453 | ||||||
(SOFR Compounded Index + 0.26%), 2.33%, 05/31/2026 (aa) | 1,000 | 920 | ||||||
2.50%, 03/19/2024 | 465 | 458 | ||||||
2.90%, 01/19/2033 | EUR | 7,000 | 7,078 | |||||
Investitionsbank Schleswig-Holstein, (Germany), | ||||||||
Reg. S, 0.01%, 05/15/2026 | EUR | 100 | 96 | |||||
Reg. S, 3.25%, 03/10/2031 | EUR | 300 | 315 | |||||
Ireland Government Bond, (Ireland), | ||||||||
Reg. S, 0.00%, 10/18/2031 | EUR | 1,577 | 1,293 | |||||
Reg. S, 0.20%, 05/15/2027 | EUR | 1,940 | 1,846 | |||||
Reg. S, 0.20%, 10/18/2030 | EUR | 1,111 | 956 | |||||
Reg. S, 0.35%, 10/18/2032 | EUR | 290 | 238 | |||||
Reg. S, 0.40%, 05/15/2035 | EUR | 691 | 522 | |||||
Reg. S, 0.55%, 04/22/2041 | EUR | 385 | 245 | |||||
Reg. S, 0.90%, 05/15/2028 | EUR | 412 | 395 | |||||
Reg. S, 1.00%, 05/15/2026 | EUR | 720 | 720 | |||||
Reg. S, 1.10%, 05/15/2029 | EUR | 957 | 906 | |||||
Reg. S, 1.30%, 05/15/2033 | EUR | 1,230 | 1,087 | |||||
Reg. S, 1.35%, 03/18/2031 | EUR | 965 | 899 | |||||
Reg. S, 1.50%, 05/15/2050 | EUR | 1,163 | 774 | |||||
Reg. S, 1.70%, 05/15/2037 | EUR | 800 | 676 | |||||
Reg. S, 2.00%, 02/18/2045 | EUR | 685 | 544 | |||||
Reg. S, 2.40%, 05/15/2030 | EUR | 1,000 | 1,010 | |||||
Reg. S, 3.00%, 10/18/2043 | EUR | 600 | 582 | |||||
5.40%, 03/13/2025 | EUR | 790 | 859 | |||||
Israel Government AID Bond, (Israel), | ||||||||
5.50%, 09/18/2033 | 200 | 207 | ||||||
Series 2, Zero Coupon, 11/01/2024 | 749 | 703 | ||||||
Israel Government Bond - Fixed, (Israel), | ||||||||
Series 142, 5.50%, 01/31/2042 | ILS | 290 | 89 | |||||
Series 327, 2.00%, 03/31/2027 | ILS | 800 | 197 | |||||
Series 330, 1.00%, 03/31/2030 | ILS | 1,200 | 259 | |||||
Series 537, 1.50%, 05/31/2037 | ILS | 305 | 57 | |||||
Israel Government International Bond, (Israel), | ||||||||
Reg. S, 0.63%, 01/18/2032 | EUR | 3,000 | 2,397 | |||||
Reg. S, 1.50%, 01/18/2027 | EUR | 2,000 | 1,955 | |||||
Reg. S, 2.50%, 01/16/2049 | EUR | 825 | 649 | |||||
2.75%, 07/03/2030 | 400 | 340 | ||||||
Italy Buoni Poliennali Del Tesoro, (Italy), | ||||||||
Series 2Y, Reg. S, 3.60%, 09/29/2025 | EUR | 530 | 556 | |||||
Series 3Y, Reg. S, 0.00%, 12/15/2024 | EUR | 650 | 656 | |||||
Series 3Y, Reg. S, 1.20%, 08/15/2025 | EUR | 500 | 503 | |||||
Series 3Y, Reg. S, 3.50%, 01/15/2026 | EUR | 1,720 | 1,802 | |||||
Series 3Y, Reg. S, 3.80%, 04/15/2026 | EUR | 3,000 | 3,161 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Series 5Y, Reg. S, 0.00%, 04/01/2026 | EUR | 4,060 | 3,895 | |||||
Series 5Y, Reg. S, 0.00%, 08/01/2026 | EUR | 3,447 | 3,263 | |||||
Series 5Y, Reg. S, 0.50%, 02/01/2026 | EUR | 5,270 | 5,152 | |||||
Series 5Y, Reg. S, 1.10%, 04/01/2027 | EUR | 2,370 | 2,273 | |||||
Series 5Y, Reg. S, 1.85%, 07/01/2025 (e) | EUR | 2,080 | 2,123 | |||||
Series 5Y, Reg. S, 2.65%, 12/01/2027 | EUR | 660 | 661 | |||||
Series 5Y, Reg. S, 3.80%, 08/01/2028 | EUR | 450 | 469 | |||||
Series 6Y, Reg. S, 0.35%, 02/01/2025 | EUR | 2,780 | 2,804 | |||||
Series 7Y, Reg. S, 0.25%, 03/15/2028 | EUR | 7,600 | 6,794 | |||||
Series 7Y, Reg. S, 0.45%, 02/15/2029 | EUR | 2,560 | 2,224 | |||||
Series 7Y, Reg. S, 0.50%, 07/15/2028 | EUR | 4,074 | 3,639 | |||||
Series 7Y, Reg. S, 0.65%, 10/15/2023 | EUR | 1,000 | 1,056 | |||||
Series 7Y, Reg. S, 0.95%, 09/15/2027 | EUR | 1,440 | 1,354 | |||||
Series 7Y, Reg. S, 1.45%, 11/15/2024 | EUR | 3,400 | 3,498 | |||||
Series 7Y, Reg. S, 1.45%, 05/15/2025 | EUR | 2,813 | 2,860 | |||||
Series 7Y, Reg. S, 2.50%, 11/15/2025 | EUR | 545 | 560 | |||||
Series 7Y, Reg. S, 3.70%, 06/15/2030 | EUR | 1,800 | 1,829 | |||||
Series 7Y, Reg. S, 3.85%, 12/15/2029 | EUR | 1,500 | 1,545 | |||||
Series 7Y, Reg. S, 4.00%, 11/15/2030 | EUR | 1,400 | 1,442 | |||||
Series 8Y, Reg. S, 0.85%, 01/15/2027 (e) | EUR | 6,435 | 6,158 | |||||
Series 8Y, Reg. S, 4.00%, 10/30/2031 (e) | EUR | 2,470 | 2,528 | |||||
Series 10Y, Reg. S, 0.60%, 08/01/2031 (e) | EUR | 2,294 | 1,813 | |||||
Series 10Y, Reg. S, 0.95%, 08/01/2030 | EUR | 910 | 769 | |||||
Series 10Y, Reg. S, 0.95%, 12/01/2031 (e) | EUR | 2,855 | 2,295 | |||||
Series 10Y, Reg. S, 0.95%, 06/01/2032 | EUR | 3,305 | 2,607 | |||||
Series 10Y, Reg. S, 1.25%, 12/01/2026 | EUR | 2,107 | 2,051 | |||||
Series 10Y, Reg. S, 1.50%, 06/01/2025 | EUR | 1,620 | 1,646 | |||||
Series 10Y, Reg. S, 1.60%, 06/01/2026 | EUR | 1,820 | 1,812 | |||||
Series 10Y, Reg. S, 1.65%, 12/01/2030 (e) | EUR | 1,753 | 1,541 | |||||
Series 10Y, Reg. S, 2.00%, 12/01/2025 | EUR | 1,400 | 1,423 | |||||
Series 10Y, Reg. S, 2.00%, 02/01/2028 | EUR | 1,402 | 1,362 | |||||
Series 10Y, Reg. S, 2.05%, 08/01/2027 | EUR | 3,580 | 3,525 | |||||
Series 10Y, Reg. S, 2.20%, 06/01/2027 | EUR | 1,977 | 1,964 | |||||
Series 10Y, Reg. S, 2.50%, 12/01/2024 | EUR | 994 | 1,034 | |||||
Series 10Y, Reg. S, 2.50%, 12/01/2032 | EUR | 5,610 | 5,018 | |||||
Series 10Y, Reg. S, 2.80%, 12/01/2028 | EUR | 3,348 | 3,320 | |||||
Series 10Y, Reg. S, 3.00%, 08/01/2029 | EUR | 1,946 | 1,926 | |||||
Series 10Y, Reg. S, 3.75%, 09/01/2024 | EUR | 1,230 | 1,298 | |||||
Series 10Y, Reg. S, 4.35%, 11/01/2033 | EUR | 130 | 134 | |||||
Series 10Y, Reg. S, 4.40%, 05/01/2033 | EUR | 3,290 | 3,413 | |||||
Series 11Y, Reg. S, 0.90%, 04/01/2031 | EUR | 1,957 | 1,607 | |||||
Series 11Y, Reg. S, 1.35%, 04/01/2030 | EUR | 2,100 | 1,849 | |||||
Series 13Y, Reg. S, 4.00%, 04/30/2035 (e) | EUR | 800 | 786 | |||||
Series 15Y, Reg. S, 2.45%, 09/01/2033 (e) | EUR | 4,191 | 3,665 | |||||
Series 15Y, Reg. S, 4.75%, 09/01/2028 (e) | EUR | 1,720 | 1,868 | |||||
Series 16Y, Reg. S, 0.95%, 03/01/2037 (e) | EUR | 3,214 | 2,109 | |||||
Series 16Y, Reg. S, 1.45%, 03/01/2036 (e) | EUR | 1,229 | 893 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Series 16Y, Reg. S, 3.25%, 03/01/2038 (e) | EUR | 3,700 | 3,230 | |||||
Series 16Y, Reg. S, 3.50%, 03/01/2030 (e) | EUR | 6,136 | 6,199 | |||||
Series 16Y, Reg. S, 4.50%, 03/01/2026 (e) | EUR | 2,853 | 3,055 | |||||
Series 16Y, Reg. S, 5.00%, 03/01/2025 (e) | EUR | 4,570 | 4,897 | |||||
Series 17Y, Reg. S, 1.65%, 03/01/2032 (e) | EUR | 2,246 | 1,906 | |||||
Series 20Y, Reg. S, 2.25%, 09/01/2036 (e) | EUR | 2,134 | 1,699 | |||||
Series 20Y, Reg. S, 2.95%, 09/01/2038 (e) | EUR | 2,362 | 1,978 | |||||
Series 20Y, Reg. S, 4.45%, 09/01/2043 (e) | EUR | 2,450 | 2,383 | |||||
Series 21Y, Reg. S, 1.80%, 03/01/2041 (e) | EUR | 2,154 | 1,439 | |||||
Series 21Y, Reg. S, 3.10%, 03/01/2040 (e) | EUR | 1,112 | 928 | |||||
Series 26Y, Reg. S, 3.35%, 03/01/2035 (e) | EUR | 2,660 | 2,453 | |||||
Series 30Y, Reg. S, 2.15%, 09/01/2052 (e) | EUR | 1,271 | 764 | |||||
Series 30Y, Reg. S, 3.85%, 09/01/2049 (e) | EUR | 1,030 | 899 | |||||
Series 30Y, Reg. S, 4.50%, 10/01/2053 (e) | EUR | 1,040 | 990 | |||||
Series 30Y, Reg. S, 6.50%, 11/01/2027 | EUR | 890 | 1,028 | |||||
Series 30Y, Reg. S, 7.25%, 11/01/2026 | EUR | 2,200 | 2,544 | |||||
Series 31Y, Reg. S, 1.70%, 09/01/2051 (e) | EUR | 2,267 | 1,242 | |||||
Series 31Y, Reg. S, 2.70%, 03/01/2047 (e) | EUR | 1,350 | 979 | |||||
Series 31Y, Reg. S, 3.25%, 09/01/2046 (e) | EUR | 2,540 | 2,041 | |||||
Series 31Y, Reg. S, 3.45%, 03/01/2048 (e) | EUR | 2,815 | 2,320 | |||||
Series 31Y, Reg. S, 4.00%, 02/01/2037 (e) | EUR | 1,310 | 1,271 | |||||
Series 31Y, Reg. S, 4.75%, 09/01/2044 (e) | EUR | 2,105 | 2,137 | |||||
Series 31Y, Reg. S, 5.00%, 08/01/2034 (e) | EUR | 966 | 1,040 | |||||
Series 31Y, Reg. S, 5.00%, 09/01/2040 (e) | EUR | 560 | 591 | |||||
Series 31Y, Reg. S, 5.25%, 11/01/2029 | EUR | 1,777 | 1,981 | |||||
Series 31Y, Reg. S, 5.75%, 02/01/2033 | EUR | 1,260 | 1,445 | |||||
Series 31Y, Reg. S, 6.00%, 05/01/2031 | EUR | 1,753 | 2,043 | |||||
Series 32Y, Reg. S, 5.00%, 08/01/2039 (e) | EUR | 2,141 | 2,266 | |||||
Series 34Y, Reg. S, 1.50%, 04/30/2045 (e) | EUR | 1,851 | 1,070 | |||||
Series 50Y, Reg. S, 2.15%, 03/01/2072 (e) | EUR | 717 | 386 | |||||
Series 50Y, Reg. S, 2.80%, 03/01/2067 (e) | EUR | 1,055 | 687 | |||||
Series CAC, Reg. S, 2.45%, 09/01/2050 (e) | EUR | 1,442 | 954 | |||||
Japan Bank for International Cooperation, (Japan), | ||||||||
0.63%, 07/15/2025 | 500 | 459 | ||||||
3.13%, 02/15/2028 | EUR | 1,000 | 1,036 | |||||
Japan Expressway Holding and Debt Repayment Agency, (Japan), | ||||||||
Series 37, 2.42%, 06/20/2028 | JPY | 100,000 | 729 | |||||
Series 75, 1.96%, 09/19/2031 | JPY | 100,000 | 728 | |||||
Series 271, 0.02%, 03/31/2026 | JPY | 30,000 | 200 | |||||
Japan Finance Corp., (Japan), Series 57, 0.00%, 10/17/2025 | JPY | 20,000 | 133 | |||||
Japan Finance Organization for Municipalities, (Japan), | ||||||||
Reg. S, 0.05%, 02/12/2027 | EUR | 500 | 468 | |||||
Reg. S, 0.63%, 09/02/2025 | 1,000 | 911 | ||||||
Series 55, 0.78%, 12/28/2023 | JPY | 100,000 | 670 | |||||
Series 69, 0.48%, 02/28/2025 | JPY | 100,000 | 672 | |||||
Series 2022, 2.32%, 06/18/2027 | JPY | 20,000 | 144 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Japan Government Five Year Bond, (Japan), | ||||||||
Series 142, 0.10%, 12/20/2024 | JPY | 41,400 | 278 | |||||
Series 143, 0.10%, 03/20/2025 | JPY | 15,700 | 105 | |||||
Series 144, 0.10%, 06/20/2025 | JPY | 347,000 | 2,325 | |||||
Series 146, 0.10%, 12/20/2025 | JPY | 122,000 | 817 | |||||
Series 148, 0.01%, 06/20/2026 | JPY | 459,750 | 3,069 | |||||
Series 150, 0.01%, 12/20/2026 | JPY | 31,600 | 211 | |||||
Series 151, 0.01%, 03/20/2027 | JPY | 173,000 | 1,152 | |||||
Series 153, 0.01%, 06/20/2027 | JPY | 459,600 | 3,054 | |||||
Japan Government Forty Year Bond, (Japan), | ||||||||
Series 1, 2.40%, 03/20/2048 | JPY | 100,000 | 782 | |||||
Series 3, 2.20%, 03/20/2050 | JPY | 505,350 | 3,803 | |||||
Series 6, 1.90%, 03/20/2053 | JPY | 650 | 4 | |||||
Series 7, 1.70%, 03/20/2054 | JPY | 7,050 | 48 | |||||
Series 8, 1.40%, 03/20/2055 | JPY | 14,350 | 90 | |||||
Series 9, 0.40%, 03/20/2056 | JPY | 11,000 | 50 | |||||
Series 10, 0.90%, 03/20/2057 | JPY | 7,050 | 38 | |||||
Series 11, 0.80%, 03/20/2058 | JPY | 5,000 | 26 | |||||
Series 12, 0.50%, 03/20/2059 | JPY | 10,000 | 46 | |||||
Series 15, 1.00%, 03/20/2062 | JPY | 49,850 | 265 | |||||
Series 16, 1.30%, 03/20/2063 | JPY | 2,700 | 16 | |||||
Japan Government Ten Year Bond, (Japan), | ||||||||
Series 343, 0.10%, 06/20/2026 | JPY | 227,350 | 1,522 | |||||
Series 344, 0.10%, 09/20/2026 | JPY | 131,500 | 880 | |||||
Series 349, 0.10%, 12/20/2027 | JPY | 59,700 | 397 | |||||
Series 357, 0.10%, 12/20/2029 | JPY | 311,550 | 2,042 | |||||
Series 358, 0.10%, 03/20/2030 | JPY | 90,300 | 590 | |||||
Series 359, 0.10%, 06/20/2030 | JPY | 35,000 | 228 | |||||
Series 360, 0.10%, 09/20/2030 | JPY | 35,450 | 230 | |||||
Series 361, 0.10%, 12/20/2030 | JPY | 196,550 | 1,273 | |||||
Series 363, 0.10%, 06/20/2031 | JPY | 310,050 | 1,996 | |||||
Series 364, 0.10%, 09/20/2031 | JPY | 265,000 | 1,700 | |||||
Series 365, 0.10%, 12/20/2031 | JPY | 45,000 | 288 | |||||
Series 366, 0.20%, 03/20/2032 | JPY | 454,100 | 2,922 | |||||
Series 367, 0.20%, 06/20/2032 | JPY | 6,000 | 39 | |||||
Series 370, 0.50%, 03/20/2033 | JPY | 3,050 | 20 | |||||
Series 371, 0.40%, 06/20/2033 | JPY | 30,000 | 194 | |||||
Japan Government Thirty Year Bond, (Japan), | ||||||||
Series 11, 1.70%, 06/20/2033 | JPY | 100,000 | 728 | |||||
Series 21, 2.30%, 12/20/2035 | JPY | 711,850 | 5,496 | |||||
Series 22, 2.50%, 03/20/2036 | JPY | 126,250 | 995 | |||||
Series 24, 2.50%, 09/20/2036 | JPY | 57,950 | 457 | |||||
Series 33, 2.00%, 09/20/2040 | JPY | 333,000 | 2,464 | |||||
Series 34, 2.20%, 03/20/2041 | JPY | 23,000 | 175 | |||||
Series 40, 1.80%, 09/20/2043 | JPY | 450 | 3 | |||||
Series 47, 1.60%, 06/20/2045 | JPY | 10,000 | 68 | |||||
Series 66, 0.40%, 03/20/2050 | JPY | 335,250 | 1,659 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Series 67, 0.60%, 06/20/2050 | JPY | 50,000 | 261 | |||||
Series 68, 0.60%, 09/20/2050 | JPY | 126,500 | 657 | |||||
Series 71, 0.70%, 06/20/2051 | JPY | 118,600 | 628 | |||||
Series 73, 0.70%, 12/20/2051 | JPY | 8,000 | 42 | |||||
Series 74, 1.00%, 03/20/2052 | JPY | 104,000 | 594 | |||||
Series 75, 1.30%, 06/20/2052 | JPY | 10,000 | 62 | |||||
Series 76, 1.40%, 09/20/2052 | JPY | 3,000 | 19 | |||||
Series 77, 1.60%, 12/20/2052 | JPY | 41,500 | 274 | |||||
Series 78, 1.40%, 03/20/2053 | JPY | 1,000 | 6 | |||||
Japan Government Twenty Year Bond, (Japan), | ||||||||
Series 80, 2.10%, 06/20/2025 | JPY | 517,000 | 3,583 | |||||
Series 81, 2.00%, 09/20/2025 | JPY | 10,100 | 70 | |||||
Series 105, 2.10%, 09/20/2028 | JPY | 214,950 | 1,564 | |||||
Series 118, 2.00%, 06/20/2030 | JPY | 6,800 | 50 | |||||
Series 122, 1.80%, 09/20/2030 | JPY | 924,000 | 6,724 | |||||
Series 140, 1.70%, 09/20/2032 | JPY | 188,950 | 1,373 | |||||
Series 142, 1.80%, 12/20/2032 | JPY | 10,900 | 80 | |||||
Series 143, 1.60%, 03/20/2033 | JPY | 4,800 | 35 | |||||
Series 148, 1.50%, 03/20/2034 | JPY | 67,550 | 483 | |||||
Series 151, 1.20%, 12/20/2034 | JPY | 6,500 | 45 | |||||
Series 153, 1.30%, 06/20/2035 | JPY | 10,000 | 70 | |||||
Series 164, 0.50%, 03/20/2038 | JPY | 4,500 | 27 | |||||
Series 165, 0.50%, 06/20/2038 | JPY | 3,450 | 21 | |||||
Series 167, 0.50%, 12/20/2038 | JPY | 9,750 | 59 | |||||
Series 172, 0.40%, 03/20/2040 | JPY | 145,000 | 846 | |||||
Series 173, 0.40%, 06/20/2040 | JPY | 125,000 | 725 | |||||
Series 175, 0.50%, 12/20/2040 | JPY | 80,000 | 468 | |||||
Series 176, 0.50%, 03/20/2041 | JPY | 173,050 | 1,008 | |||||
Series 177, 0.40%, 06/20/2041 | JPY | 40,000 | 228 | |||||
Series 178, 0.50%, 09/20/2041 | JPY | 443,950 | 2,567 | |||||
Series 179, 0.50%, 12/20/2041 | JPY | 55,000 | 317 | |||||
Series 180, 0.80%, 03/20/2042 | JPY | 133,000 | 807 | |||||
Series 183, 1.40%, 12/20/2042 | JPY | 10,000 | 67 | |||||
Series 184, 1.10%, 03/20/2043 | JPY | 13,650 | 86 | |||||
Series 185, 1.10%, 06/20/2043 | JPY | 4,000 | 25 | |||||
Japan Government Two Year Bond, (Japan), | ||||||||
Series 430, 0.01%, 11/01/2023 | JPY | 300,000 | 2,008 | |||||
Series 449, 0.01%, 06/01/2025 | JPY | 25,000 | 167 | |||||
Series 450, 0.01%, 07/01/2025 | JPY | 32,250 | 216 | |||||
Japan Housing Finance Agency, (Japan), | ||||||||
Series 71, 1.75%, 03/19/2026 | JPY | 200,000 | 1,388 | |||||
Series 108, 1.43%, 06/18/2027 | JPY | 100,000 | 696 | |||||
Japan International Cooperation Agency, (Japan), Series 35, 0.08%, 06/19/2026 | JPY | 200,000 | 1,332 | |||||
Japanese Government CPI Linked Bond, (Japan), Series 25, 0.20%, 03/10/2030 | JPY | 105,411 | 772 | |||||
Jersey International Bond, (Jersey), Reg. S, 3.75%, 06/09/2054 | GBP | 400 | 361 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Junta de Castilla y Leon, (Spain), Reg. S, 0.43%, 04/30/2030 | EUR | 62 | 52 | |||||
Kazakhstan Government International Bond, (Kazakhstan), Reg. S, 1.50%, 09/30/2034 | EUR | 400 | 301 | |||||
Kingdom of Belgium Government Bond, (Belgium), | ||||||||
Series 44, Reg. S, 5.00%, 03/28/2035 (e) | EUR | 580 | 693 | |||||
Series 60, Reg. S, 4.25%, 03/28/2041 (e) | EUR | 1,330 | 1,482 | |||||
Series 64, Reg. S, 4.50%, 03/28/2026 (e) | EUR | 1,865 | 2,029 | |||||
Series 66, Reg. S, 4.00%, 03/28/2032 | EUR | 342 | 379 | |||||
Series 71, Reg. S, 3.75%, 06/22/2045 | EUR | 863 | 894 | |||||
Series 73, Reg. S, 3.00%, 06/22/2034 (e) | EUR | 2,988 | 3,010 | |||||
Series 74, Reg. S, 0.80%, 06/22/2025 (e) | EUR | 2,159 | 2,185 | |||||
Series 75, Reg. S, 1.00%, 06/22/2031 (e) | EUR | 997 | 890 | |||||
Series 76, Reg. S, 1.90%, 06/22/2038 (e) | EUR | 2,043 | 1,715 | |||||
Series 77, Reg. S, 1.00%, 06/22/2026 (e) | EUR | 1,412 | 1,408 | |||||
Series 78, Reg. S, 1.60%, 06/22/2047 (e) | EUR | 1,967 | 1,349 | |||||
Series 80, Reg. S, 2.15%, 06/22/2066 (e) | EUR | 1,021 | 706 | |||||
Series 81, Reg. S, 0.80%, 06/22/2027 (e) | EUR | 970 | 942 | |||||
Series 82, Reg. S, 0.50%, 10/22/2024 (e) | EUR | 1,000 | 1,024 | |||||
Series 83, Reg. S, 2.25%, 06/22/2057 (e) | EUR | 817 | 600 | |||||
Series 84, Reg. S, 1.45%, 06/22/2037 (e) | EUR | 300 | 241 | |||||
Series 85, Reg. S, 0.80%, 06/22/2028 (e) | EUR | 3,062 | 2,913 | |||||
Series 86, Reg. S, 1.25%, 04/22/2033 (e) | EUR | 2,674 | 2,345 | |||||
Series 87, Reg. S, 0.90%, 06/22/2029 (e) | EUR | 2,254 | 2,107 | |||||
Series 88, Reg. S, 1.70%, 06/22/2050 (e) | EUR | 956 | 643 | |||||
Series 89, Reg. S, 0.10%, 06/22/2030 (e) | EUR | 2,472 | 2,127 | |||||
Series 90, Reg. S, 0.40%, 06/22/2040 (e) | EUR | 1,285 | 790 | |||||
Series 91, Reg. S, 0.00%, 10/22/2027 (e) | EUR | 3,496 | 3,261 | |||||
Series 92, Reg. S, 0.00%, 10/22/2031 (e) | EUR | 2,227 | 1,808 | |||||
Series 93, Reg. S, 0.65%, 06/22/2071 (e) | EUR | 628 | 227 | |||||
Series 94, Reg. S, 0.35%, 06/22/2032 (e) | EUR | 1,880 | 1,537 | |||||
Series 95, Reg. S, 1.40%, 06/22/2053 (e) | EUR | 2,045 | 1,218 | |||||
Series 96, Reg. S, 2.75%, 04/22/2039 (e) | EUR | 400 | 372 | |||||
Series 97, Reg. S, 3.00%, 06/22/2033 (e) | EUR | 1,190 | 1,209 | |||||
Series 98, Reg. S, 3.30%, 06/22/2054 (e) | EUR | 280 | 261 | |||||
Series 99, Reg. S, 3.45%, 06/22/2043 (e) | EUR | 620 | 615 | |||||
Kommunalbanken A/S, (Norway), | ||||||||
Reg. S, 0.05%, 10/24/2029 | EUR | 6,200 | 5,356 | |||||
Reg. S, 0.63%, 04/20/2026 | EUR | 1,200 | 1,176 | |||||
Reg. S, 0.88%, 05/24/2027 | EUR | 500 | 481 | |||||
Kommunekredit, (Denmark), | ||||||||
0.00%, 11/17/2029 | EUR | 800 | 690 | |||||
Reg. S, 0.01%, 05/04/2034 | EUR | 500 | 366 | |||||
Reg. S, 0.50%, 01/24/2025 | EUR | 460 | 466 | |||||
Reg. S, 2.38%, 09/15/2032 | EUR | 4,000 | 3,883 | |||||
Reg. S, 2.88%, 01/19/2035 | EUR | 7,000 | 6,895 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Kommuninvest I Sverige AB, (Sweden), | ||||||||
Reg. S, 1.50%, 05/12/2025 | SEK | 3,000 | 264 | |||||
Reg. S, 3.38%, 03/15/2027 | EUR | 1,000 | 1,056 | |||||
Series 2505, Reg. S, 1.00%, 05/12/2025 | SEK | 5,000 | 436 | |||||
Series 2602, Reg. S, 0.75%, 02/04/2026 | SEK | 2,880 | 244 | |||||
Series 2611, Reg. S, 1.00%, 11/12/2026 | SEK | 4,000 | 336 | |||||
Korea Development Bank (The), (South Korea), | ||||||||
Reg. S, 1.83%, 08/10/2027 | SEK | 2,000 | 174 | |||||
2.63%, 09/08/2027 | EUR | 6,500 | 6,609 | |||||
6.00%, 01/22/2025 | IDR | 15,000,000 | 962 | |||||
Korea Expressway Corp., (South Korea), Reg. S, 3.10%, 06/08/2026 | 800 | 735 | ||||||
Korea Housing Finance Corp., (South Korea), Reg. S, 1.96%, 07/19/2026 | EUR | 100 | 100 | |||||
Korea Hydro & Nuclear Power Co. Ltd., (South Korea), Reg. S, 0.00%, 07/19/2024 | CHF | 300 | 322 | |||||
Korea National Oil Corp., (South Korea), | ||||||||
Reg. S, 0.00%, 10/04/2024 | CHF | 300 | 321 | |||||
Reg. S, 0.26%, 07/30/2027 | CHF | 300 | 304 | |||||
Korea Treasury Bond, (South Korea), | ||||||||
Series 2409, 1.38%, 09/10/2024 | KRW | 700,550 | 508 | |||||
Series 2612, 1.50%, 12/10/2026 | KRW | 569,490 | 392 | |||||
Series 2803, 3.25%, 03/10/2028 | KRW | 110,000 | 79 | |||||
Series 2806, 2.63%, 06/10/2028 | KRW | 50,000 | 35 | |||||
Series 3006, 1.38%, 06/10/2030 | KRW | 160,000 | 101 | |||||
Series 3106, 2.00%, 06/10/2031 | KRW | 491,310 | 317 | |||||
Series 3112, 2.38%, 12/10/2031 | KRW | 140,920 | 93 | |||||
Series 3212, 4.25%, 12/10/2032 | KRW | 100,000 | 75 | |||||
Series 4009, 1.50%, 09/10/2040 | KRW | 277,980 | 143 | |||||
Series 4209, 3.25%, 09/10/2042 | KRW | 135,980 | 91 | |||||
Series 4903, 2.00%, 03/10/2049 | KRW | 14,620 | 7 | |||||
Series 5003, 1.50%, 03/10/2050 | KRW | 587,880 | 262 | |||||
Series 5103, 1.88%, 03/10/2051 | KRW | 60,000 | 29 | |||||
Series 5303, 3.25%, 03/10/2053 | KRW | 151,170 | 99 | |||||
Series 7009, 1.63%, 09/10/2070 | KRW | 72,350 | 28 | |||||
Kuntarahoitus OYJ, (Finland), | ||||||||
Reg. S, 0.00%, 10/14/2030 | EUR | 500 | 419 | |||||
Reg. S, 0.05%, 09/06/2029 | EUR | 400 | 349 | |||||
Reg. S, 0.25%, 02/25/2032 | EUR | 100 | 82 | |||||
Reg. S, 0.38%, 12/17/2025 | GBP | 5,000 | 5,487 | |||||
Reg. S, 1.25%, 02/23/2033 | EUR | 200 | 175 | |||||
Reg. S, 3.00%, 09/25/2028 | EUR | 200 | 208 | |||||
Land Baden-Wuerttemberg, (Germany), | ||||||||
Reg. S, 0.01%, 09/02/2030 | EUR | 218 | 184 | |||||
Reg. S, 0.13%, 11/19/2040 | EUR | 100 | 59 | |||||
Reg. S, 0.63%, 01/27/2026 | EUR | 380 | 376 | |||||
Reg. S, 3.00%, 06/27/2033 | EUR | 200 | 205 | |||||
Land Berlin, (Germany), | ||||||||
Reg. S, 0.01%, 07/02/2030 | EUR | 490 | 415 | |||||
Reg. S, 0.05%, 08/06/2040 | EUR | 200 | 115 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 0.10%, 01/18/2030 | EUR | 635 | 550 | |||||
Reg. S, 0.13%, 11/24/2045 | EUR | 90 | 44 | |||||
Reg. S, 0.15%, 02/22/2036 | EUR | 100 | 70 | |||||
Reg. S, 0.63%, 02/05/2029 | EUR | 800 | 735 | |||||
Reg. S, 0.63%, 01/26/2052 | EUR | 200 | 99 | |||||
Reg. S, 1.63%, 08/02/2032 | EUR | 180 | 165 | |||||
Series 493, Reg. S, 0.63%, 02/08/2027 | EUR | 220 | 212 | |||||
Series 495, Reg. S, 1.38%, 06/05/2037 | EUR | 260 | 209 | |||||
Series 506, Reg. S, 1.38%, 08/27/2038 | EUR | 115 | 90 | |||||
Series 530, Reg. S, 0.10%, 01/18/2041 | EUR | 80 | 46 | |||||
Land Thueringen, (Germany), | ||||||||
Reg. S, 0.05%, 05/06/2030 | EUR | 260 | 222 | |||||
Reg. S, 0.13%, 01/13/2051 | EUR | 100 | 41 | |||||
0.50%, 03/02/2029 | EUR | 500 | 455 | |||||
Latvia Government International Bond, (Latvia), | ||||||||
Reg. S, 0.00%, 03/17/2031 | EUR | 100 | 78 | |||||
Reg. S, 1.13%, 05/30/2028 | EUR | 390 | 361 | |||||
Reg. S, 1.38%, 05/16/2036 | EUR | 110 | 83 | |||||
Reg. S, 1.88%, 02/19/2049 | EUR | 100 | 70 | |||||
Reg. S, 3.50%, 01/17/2028 | EUR | 650 | 677 | |||||
LCR Finance plc, (United Kingdom), | ||||||||
Reg. S, 4.50%, 12/07/2028 | GBP | 400 | 482 | |||||
Reg. S, 4.50%, 12/07/2038 | GBP | 110 | 127 | |||||
5.10%, 03/07/2051 | GBP | 50 | 61 | |||||
Lithuania Government International Bond, (Lithuania), | ||||||||
Reg. S, 0.25%, 05/06/2025 | EUR | 70 | 69 | |||||
Reg. S, 0.50%, 07/28/2050 | EUR | 210 | 91 | |||||
Reg. S, 0.75%, 05/06/2030 | EUR | 440 | 371 | |||||
Reg. S, 0.95%, 05/26/2027 | EUR | 500 | 471 | |||||
Reg. S, 2.13%, 06/01/2032 | EUR | 210 | 189 | |||||
Reg. S, 3.88%, 06/14/2033 | EUR | 350 | 360 | |||||
Luxembourg Government Bond, (Luxembourg), | ||||||||
Reg. S, 0.00%, 04/28/2025 | EUR | 110 | 110 | |||||
Reg. S, 0.00%, 11/13/2026 | EUR | 400 | 382 | |||||
Reg. S, 0.00%, 04/28/2030 | EUR | 150 | 129 | |||||
Malaysia Government Bond, (Malaysia), | ||||||||
Series 114, 4.18%, 07/15/2024 | MYR | 140 | 30 | |||||
Series 119, 3.91%, 07/15/2026 | MYR | 500 | 107 | |||||
Series 120, 4.07%, 06/15/2050 | MYR | 100 | 20 | |||||
Series 123, 4.46%, 03/31/2053 | MYR | 100 | 21 | |||||
Series 219, 3.89%, 08/15/2029 | MYR | 6,600 | 1,402 | |||||
Series 519, 3.76%, 05/22/2040 | MYR | 640 | 128 | |||||
Malaysia Government Investment Issue, (Malaysia), | ||||||||
Series 119, 4.13%, 07/09/2029 | MYR | 810 | 174 | |||||
Series 122, 4.19%, 10/07/2032 | MYR | 140 | 30 | |||||
Series 222, 5.36%, 05/15/2052 | MYR | 20 | 5 | |||||
Series 417, 4.90%, 05/08/2047 | MYR | 271 | 61 | |||||
Series 617, 4.72%, 06/15/2033 | MYR | 505 | 113 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Metropolitano de Lisboa EPE, (Portugal), | ||||||||
4.80%, 12/07/2027 | EUR | 700 | 773 | |||||
7.30%, 12/23/2025 | EUR | 500 | 570 | |||||
Mexican Bonos, (Mexico), | ||||||||
Series M, 7.50%, 06/03/2027 | MXN | 17,000 | 890 | |||||
Series M, 7.75%, 05/29/2031 | MXN | 12,000 | 606 | |||||
Series M, 7.75%, 11/13/2042 | MXN | 2,000 | 93 | |||||
Series M, 8.50%, 05/31/2029 | MXN | 1,000 | 54 | |||||
Series M, 8.50%, 11/18/2038 | MXN | 2,000 | 101 | |||||
Mexico Government International Bond, (Mexico), | ||||||||
1.13%, 01/17/2030 | EUR | 1,200 | 1,015 | |||||
1.35%, 09/18/2027 | EUR | 3,075 | 2,915 | |||||
1.45%, 10/25/2033 | EUR | 7,000 | 5,210 | |||||
1.63%, 04/08/2026 | EUR | 200 | 198 | |||||
2.13%, 10/25/2051 | EUR | 2,200 | 1,187 | |||||
3.00%, 03/06/2045 | EUR | 825 | 600 | |||||
Reg. S, 3.38%, 02/23/2031 | EUR | 3,000 | 2,867 | |||||
3.50%, 02/12/2034 | 1,100 | 860 | ||||||
3.75%, 04/19/2071 | 200 | 114 | ||||||
Reg. S, 4.00%, 03/15/2115 | EUR | 3,500 | 2,499 | |||||
4.40%, 02/12/2052 | 400 | 277 | ||||||
4.50%, 04/22/2029 | 200 | 186 | ||||||
4.60%, 02/10/2048 | 250 | 182 | ||||||
Reg. S, 5.63%, 03/19/2114 | GBP | 800 | 696 | |||||
5.75%, 10/12/2110 | 80 | 64 | ||||||
6.75%, 02/06/2024 | GBP | 100 | 122 | |||||
Ministeries Van de Vlaamse Gemeenschap, (Belgium), | ||||||||
Reg. S, 0.30%, 10/20/2031 | EUR | 900 | 733 | |||||
Reg. S, 1.00%, 01/23/2051 | EUR | 100 | 52 | |||||
Reg. S, 1.38%, 11/21/2033 | EUR | 500 | 424 | |||||
Reg. S, 1.50%, 07/12/2038 | EUR | 100 | 77 | |||||
Reg. S, 1.50%, 04/11/2044 | EUR | 100 | 68 | |||||
Reg. S, 3.00%, 10/12/2032 | EUR | 100 | 99 | |||||
Reg. S, 3.25%, 01/12/2043 | EUR | 200 | 186 | |||||
Reg. S, 4.00%, 09/26/2042 | EUR | 300 | 311 | |||||
Municipal Finance Authority of British Columbia, (Canada), | ||||||||
1.10%, 06/01/2025 | CAD | 200 | 138 | |||||
2.55%, 10/09/2029 | CAD | 300 | 196 | |||||
2.80%, 12/03/2023 | CAD | 500 | 367 | |||||
Nederlandse Waterschapsbank NV, (Netherlands), | ||||||||
Reg. S, 0.00%, 09/08/2031 | EUR | 930 | 754 | |||||
Reg. S, 0.05%, 01/28/2030 | EUR | 374 | 321 | |||||
Reg. S, 0.38%, 09/28/2046 | EUR | 269 | 139 | |||||
Reg. S, 0.75%, 10/04/2041 | EUR | 200 | 129 | |||||
Reg. S, 1.00%, 03/01/2028 | EUR | 300 | 286 | |||||
Reg. S, 1.25%, 05/27/2036 | EUR | 140 | 113 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 1.50%, 04/27/2038 | EUR | 440 | 353 | |||||
Reg. S, 1.50%, 06/15/2039 | EUR | 160 | 125 | |||||
Reg. S, 2.75%, 12/17/2029 | EUR | 1,000 | 1,018 | |||||
5.20%, 03/31/2025 | CAD | 1,000 | 737 | |||||
Netherlands Government Bond, (Netherlands), | ||||||||
Reg. S, 0.00%, 01/15/2026 (e) | EUR | 1,100 | 1,083 | |||||
Reg. S, 0.00%, 01/15/2027 (e) | EUR | 1,890 | 1,811 | |||||
Reg. S, 0.00%, 01/15/2029 (e) | EUR | 1,980 | 1,787 | |||||
Reg. S, 0.00%, 07/15/2030 (e) | EUR | 1,014 | 876 | |||||
Reg. S, 0.00%, 07/15/2031 (e) | EUR | 2,577 | 2,154 | |||||
Reg. S, 0.00%, 01/15/2038 (e) | EUR | 1,552 | 1,032 | |||||
Reg. S, 0.00%, 01/15/2052 (e) | EUR | 2,094 | 912 | |||||
Reg. S, 0.25%, 07/15/2025 (e) | EUR | 2,884 | 2,892 | |||||
Reg. S, 0.25%, 07/15/2029 (e) | EUR | 799 | 723 | |||||
Reg. S, 0.50%, 07/15/2026 (e) | EUR | 1,140 | 1,123 | |||||
Reg. S, 0.50%, 07/15/2032 (e) | EUR | 2,160 | 1,830 | |||||
Reg. S, 0.50%, 01/15/2040 (e) | EUR | 1,720 | 1,186 | |||||
Reg. S, 0.75%, 07/15/2027 (e) | EUR | 1,913 | 1,862 | |||||
Reg. S, 0.75%, 07/15/2028 (e) | EUR | 2,880 | 2,742 | |||||
Reg. S, 2.00%, 01/15/2054 (e) | EUR | 770 | 619 | |||||
Reg. S, 2.50%, 01/15/2033 (e) | EUR | 2,288 | 2,299 | |||||
Reg. S, 2.50%, 07/15/2033 (e) | EUR | 1,210 | 1,208 | |||||
Reg. S, 2.75%, 01/15/2047 (e) | EUR | 2,068 | 2,005 | |||||
Reg. S, 3.75%, 01/15/2042 (e) | EUR | 2,081 | 2,334 | |||||
Reg. S, 4.00%, 01/15/2037 (e) | EUR | 974 | 1,110 | |||||
Reg. S, 5.50%, 01/15/2028 (e) | EUR | 1,366 | 1,585 | |||||
New South Wales Treasury Corp., (Australia), | ||||||||
Reg. S, 2.00%, 03/20/2031 | AUD | 200 | 106 | |||||
Reg. S, 2.00%, 03/08/2033 | AUD | 100 | 50 | |||||
Reg. S, 2.50%, 11/22/2032 | AUD | 50 | 27 | |||||
Reg. S, 3.00%, 02/20/2030 | AUD | 270 | 158 | |||||
New Zealand Government Bond, (New Zealand), | ||||||||
Series 425, Reg. S, 2.75%, 04/15/2025 | NZD | 170 | 97 | |||||
Series 429, 3.00%, 04/20/2029 | NZD | 110 | 59 | |||||
Series 528, 0.25%, 05/15/2028 | NZD | 700 | 334 | |||||
Series 530, 4.50%, 05/15/2030 | NZD | 30 | 17 | |||||
Series 532, 2.00%, 05/15/2032 | NZD | 80 | 37 | |||||
Series 534, 4.25%, 05/15/2034 | NZD | 30 | 16 | |||||
Series 551, 2.75%, 05/15/2051 | NZD | 40 | 15 | |||||
New Zealand Local Government Funding Agency Bond, (New Zealand), | ||||||||
Reg. S, 2.00%, 04/15/2037 | NZD | 250 | 93 | |||||
3.50%, 04/14/2033 | NZD | 300 | 147 | |||||
Northern Territory Treasury Corp., (Australia), Reg. S, 2.00%, 04/21/2031 | AUD | 300 | 158 | |||||
Norway Government Bond, (Norway), | ||||||||
Series 476, Reg. S, 3.00%, 03/14/2024 (e) | NOK | 6,073 | 564 | |||||
Series 477, Reg. S, 1.75%, 03/13/2025 (e) | NOK | 6,500 | 586 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Series 478, Reg. S, 1.50%, 02/19/2026 (e) | NOK | 4,500 | 396 | |||||
Series 479, Reg. S, 1.75%, 02/17/2027 (e) | NOK | 3,070 | 266 | |||||
Series 480, Reg. S, 2.00%, 04/26/2028 (e) | NOK | 6,510 | 556 | |||||
Series 481, Reg. S, 1.75%, 09/06/2029 (e) | NOK | 3,040 | 250 | |||||
Series 482, Reg. S, 1.38%, 08/19/2030 (e) | NOK | 7,050 | 556 | |||||
Series 483, Reg. S, 1.25%, 09/17/2031 (e) | NOK | 7,444 | 566 | |||||
Series 484, Reg. S, 2.13%, 05/18/2032 (e) | NOK | 5,867 | 474 | |||||
Series 485, Reg. S, 3.50%, 10/06/2042 (e) | NOK | 1,280 | 116 | |||||
Series 486, Reg. S, 3.00%, 08/15/2033 (e) | NOK | 1,400 | 121 | |||||
OMERS Finance Trust, (Canada), | ||||||||
Reg. S, 0.45%, 05/13/2025 | EUR | 3,200 | 3,199 | |||||
0.45%, 05/13/2025 (e) | EUR | 250 | 250 | |||||
Ontario Electricity Financial Corp., (Canada), Series 40, Zero Coupon, 04/11/2031 | CAD | 1,500 | 770 | |||||
Ontario Teachers Finance Trust, (Canada), | ||||||||
Reg. S, 0.50%, 05/06/2025 | EUR | 6,800 | 6,803 | |||||
Reg. S, 0.90%, 05/20/2041 | EUR | 1,650 | 1,064 | |||||
Reg. S, 1.85%, 05/03/2032 | EUR | 10,000 | 9,018 | |||||
Reg. S, 3.30%, 10/05/2029 | EUR | 800 | 821 | |||||
Panama Government International Bond, (Panama), | ||||||||
3.30%, 01/19/2033 | 400 | 312 | ||||||
4.50%, 01/19/2063 | 400 | 259 | ||||||
Peruvian Government International Bond, (Peru), | ||||||||
1.25%, 03/11/2033 | EUR | 2,000 | 1,534 | |||||
Reg. S, 1.95%, 11/17/2036 | EUR | 1,000 | 723 | |||||
Reg. S, 2.75%, 01/30/2026 | EUR | 825 | 836 | |||||
2.78%, 01/23/2031 | 110 | 90 | ||||||
3.00%, 01/15/2034 | 570 | 439 | ||||||
3.23%, 07/28/2121 | 25 | 13 | ||||||
3.55%, 03/10/2051 | 75 | 50 | ||||||
Reg. S, 6.90%, 08/12/2037 | PEN | 1,000 | 251 | |||||
Philippine Government International Bond, (Philippines), | ||||||||
1.20%, 04/28/2033 | EUR | 5,000 | 3,938 | |||||
1.65%, 06/10/2031 | 200 | 150 | ||||||
1.75%, 04/28/2041 | EUR | 1,000 | 666 | |||||
3.20%, 07/06/2046 | 200 | 131 | ||||||
5.61%, 04/13/2033 | 700 | 702 | ||||||
9.50%, 02/02/2030 | 100 | 121 | ||||||
Portugal Obrigacoes do Tesouro OT, (Portugal), | ||||||||
Reg. S, 0.30%, 10/17/2031 (e) | EUR | 1,092 | 899 | |||||
Reg. S, 0.48%, 10/18/2030 (e) | EUR | 777 | 674 | |||||
Reg. S, 0.70%, 10/15/2027 (e) | EUR | 1,675 | 1,608 | |||||
Reg. S, 0.90%, 10/12/2035 (e) | EUR | 861 | 655 | |||||
Reg. S, 1.00%, 04/12/2052 (e) | EUR | 530 | 269 | |||||
Reg. S, 1.15%, 04/11/2042 (e) | EUR | 395 | 260 | |||||
Reg. S, 1.65%, 07/16/2032 (e) | EUR | 1,210 | 1,095 | |||||
Reg. S, 1.95%, 06/15/2029 (e) | EUR | 1,803 | 1,776 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 2.13%, 10/17/2028 (e) | EUR | 1,047 | 1,052 | |||||
Reg. S, 2.88%, 10/15/2025 (e) | EUR | 1,500 | 1,575 | |||||
Reg. S, 2.88%, 07/21/2026 (e) | EUR | 1,710 | 1,796 | |||||
Reg. S, 3.50%, 06/18/2038 (e) | EUR | 700 | 701 | |||||
Reg. S, 3.88%, 02/15/2030 (e) | EUR | 1,020 | 1,112 | |||||
Reg. S, 4.10%, 04/15/2037 (e) | EUR | 837 | 900 | |||||
Reg. S, 4.10%, 02/15/2045 (e) | EUR | 770 | 811 | |||||
Reg. S, 4.13%, 04/14/2027 (e) | EUR | 480 | 523 | |||||
Series 15Y, Reg. S, 2.25%, 04/18/2034 (e) | EUR | 656 | 604 | |||||
Province of Alberta Canada, (Canada), | ||||||||
Reg. S, 1.40%, 02/20/2029 | SEK | 2,000 | 157 | |||||
2.20%, 06/01/2026 | CAD | 600 | 412 | |||||
Province of British Columbia Canada, (Canada), | ||||||||
2.80%, 06/18/2048 | CAD | 400 | 207 | |||||
7.25%, 09/01/2036 | 300 | 359 | ||||||
7.88%, 11/30/2023 | CAD | 620 | 458 | |||||
Province of Manitoba Canada, (Canada), 2.75%, 06/02/2029 | CAD | 500 | 333 | |||||
Province of Nova Scotia Canada, (Canada), 3.45%, 06/01/2045 | CAD | 200 | 117 | |||||
Province of Ontario Canada, (Canada), | ||||||||
Reg. S, 0.01%, 11/25/2030 | EUR | 3,000 | 2,459 | |||||
Reg. S, 0.25%, 12/15/2026 | GBP | 1,900 | 1,990 | |||||
Reg. S, 0.25%, 06/09/2031 | EUR | 3,000 | 2,453 | |||||
Reg. S, 0.38%, 04/08/2027 | EUR | 1,000 | 946 | |||||
Reg. S, 0.50%, 12/15/2023 | GBP | 500 | 604 | |||||
Reg. S, 0.63%, 04/17/2025 | EUR | 400 | 403 | |||||
Reg. S, 0.88%, 01/21/2025 | EUR | 1,000 | 1,017 | |||||
5.60%, 06/02/2035 | CAD | 300 | 235 | |||||
Province of Quebec Canada, (Canada), | ||||||||
Reg. S, 0.00%, 10/15/2029 | EUR | 500 | 427 | |||||
Reg. S, 0.25%, 05/05/2031 | EUR | 8,000 | 6,583 | |||||
Reg. S, 0.50%, 01/25/2032 | EUR | 3,000 | 2,459 | |||||
Reg. S, 0.88%, 05/04/2027 | EUR | 3,500 | 3,366 | |||||
Reg. S, 0.88%, 07/05/2028 | EUR | 1,025 | 957 | |||||
Reg. S, 2.38%, 01/22/2024 | EUR | 425 | 447 | |||||
3.50%, 12/01/2045 | CAD | 200 | 119 | |||||
4.50%, 09/08/2033 | 610 | 586 | ||||||
Series PD, 7.50%, 09/15/2029 | 100 | 113 | ||||||
Province of Saskatchewan Canada, (Canada), 3.30%, 06/02/2048 | CAD | 400 | 227 | |||||
Queensland Treasury Corp., (Australia), | ||||||||
Reg. S, 1.75%, 08/21/2031 (e) | AUD | 600 | 310 | |||||
Reg. S, 2.00%, 08/22/2033 (e) | AUD | 70 | 34 | |||||
Series 27, Reg. S, 2.75%, 08/20/2027 (e) | AUD | 400 | 243 | |||||
Regiao Autonoma Madeira, (Portugal), 0.94%, 05/29/2032 | EUR | 200 | 166 | |||||
Regie Autonome des Transports Parisiens EPIC, (France), | ||||||||
Reg. S, 0.38%, 06/15/2024 | EUR | 300 | 309 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 0.40%, 12/19/2036 | EUR | 1,260 | 1,092 | |||||
Reg. S, 0.88%, 05/25/2027 | EUR | 100 | 96 | |||||
Reg. S, 1.88%, 05/25/2032 | EUR | 100 | 91 | |||||
Reg. S, 3.25%, 04/11/2033 | EUR | 100 | 101 | |||||
Region of Ile de France, (France), | ||||||||
Reg. S, 0.00%, 04/20/2028 | EUR | 200 | 180 | |||||
Reg. S, 0.50%, 06/14/2025 | EUR | 200 | 200 | |||||
Reg. S, 0.63%, 04/23/2027 | EUR | 200 | 191 | |||||
Reg. S, 2.23%, 07/19/2032 | EUR | 200 | 187 | |||||
Region Wallonne Belgium, (Belgium), | ||||||||
Reg. S, 0.25%, 05/03/2026 | EUR | 300 | 291 | |||||
Reg. S, 0.38%, 10/22/2031 | EUR | 100 | 81 | |||||
Reg. S, 0.50%, 06/22/2037 | EUR | 100 | 66 | |||||
Reg. S, 1.05%, 06/22/2040 | EUR | 100 | 66 | |||||
Reg. S, 1.25%, 05/03/2034 | EUR | 200 | 163 | |||||
Reg. S, 1.38%, 04/06/2032 | EUR | 200 | 175 | |||||
Reg. S, 3.25%, 06/22/2033 | EUR | 600 | 601 | |||||
Reg. S, 3.50%, 03/15/2043 | EUR | 100 | 95 | |||||
Republic of Austria Government Bond, (Austria), | ||||||||
Reg. S, 0.00%, 07/15/2024 (e) | EUR | 280 | 288 | |||||
Reg. S, 0.00%, 04/20/2025 (e) | EUR | 1,300 | 1,303 | |||||
Reg. S, 0.00%, 10/20/2028 (e) | EUR | 490 | 441 | |||||
Reg. S, 0.00%, 02/20/2030 (e) | EUR | 1,178 | 1,013 | |||||
Reg. S, 0.00%, 02/20/2031 (e) | EUR | 2,094 | 1,738 | |||||
Reg. S, 0.00%, 10/20/2040 (e) | EUR | 460 | 264 | |||||
Reg. S, 0.25%, 10/20/2036 (e) | EUR | 1,450 | 1,004 | |||||
Reg. S, 0.50%, 04/20/2027 (e) | EUR | 1,100 | 1,060 | |||||
Reg. S, 0.50%, 02/20/2029 (e) | EUR | 1,219 | 1,117 | |||||
Reg. S, 0.70%, 04/20/2071 (e) | EUR | 851 | 332 | |||||
Reg. S, 0.75%, 10/20/2026 (e) | EUR | 1,000 | 983 | |||||
Reg. S, 0.75%, 02/20/2028 (e) | EUR | 2,740 | 2,607 | |||||
Reg. S, 0.75%, 03/20/2051 (e) | EUR | 1,362 | 731 | |||||
Reg. S, 0.85%, 06/30/2120 (e) | EUR | 300 | 111 | |||||
Reg. S, 0.90%, 02/20/2032 (e) | EUR | 1,890 | 1,642 | |||||
Reg. S, 1.20%, 10/20/2025 (e) | EUR | 1,760 | 1,784 | |||||
Reg. S, 1.50%, 02/20/2047 (e) | EUR | 895 | 625 | |||||
Reg. S, 1.50%, 11/02/2086 (e) | EUR | 190 | 101 | |||||
Reg. S, 1.85%, 05/23/2049 (e) | EUR | 570 | 424 | |||||
Reg. S, 2.00%, 07/15/2026 (e) | EUR | 270 | 276 | |||||
Reg. S, 2.10%, 09/20/2117 (e) | EUR | 756 | 503 | |||||
Reg. S, 2.40%, 05/23/2034 (e) | EUR | 1,023 | 980 | |||||
Reg. S, 2.90%, 02/20/2033 (e) | EUR | 930 | 942 | |||||
Reg. S, 3.15%, 06/20/2044 (e) | EUR | 948 | 929 | |||||
Reg. S, 3.15%, 10/20/2053 (e) | EUR | 300 | 287 | |||||
Reg. S, 3.80%, 01/26/2062 (e) | EUR | 490 | 531 | |||||
Reg. S, 4.15%, 03/15/2037 (e) | EUR | 1,445 | 1,607 | |||||
Reg. S, 4.85%, 03/15/2026 (e) | EUR | 1,661 | 1,818 | |||||
Reg. S, 6.25%, 07/15/2027 | EUR | 783 | 914 | |||||
Series 1, Reg. S, 1.65%, 10/21/2024 (e) | EUR | 1,468 | 1,522 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Republic of Austria Government International Bond, (Austria), Reg. S, 5.38%, 12/01/2034 (e) | CAD | 200 | 152 | |||||
Republic of Italy Government International Bond, (Italy), | ||||||||
1.25%, 02/17/2026 | 2,000 | 1,798 | ||||||
2.88%, 10/17/2029 | 200 | 171 | ||||||
Reg. S, (ICE EURIBOR Swap Rate 30 Year + 0.00%), 4.25%, 06/28/2029 (aa) | EUR | 1,000 | 1,060 | |||||
Reg. S, 5.13%, 07/31/2024 | EUR | 400 | 426 | |||||
5.20%, 07/31/2034 | EUR | 200 | 212 | |||||
Reg. S, 6.00%, 08/04/2028 | GBP | 1,050 | 1,287 | |||||
Republic of Poland Government Bond, (Poland), | ||||||||
Series 424, 2.50%, 04/25/2024 | PLN | 1,639 | 370 | |||||
Series 425, 0.75%, 04/25/2025 | PLN | 1,810 | 389 | |||||
Series 428, 2.75%, 04/25/2028 | PLN | 6,310 | 1,304 | |||||
Series 429, 5.75%, 04/25/2029 | PLN | 530 | 123 | |||||
Series 432, 1.75%, 04/25/2032 | PLN | 4,323 | 722 | |||||
Series 447, 4.00%, 04/25/2047 | PLN | 373 | 68 | |||||
Series 725, 3.25%, 07/25/2025 | PLN | 4,160 | 924 | |||||
Series 726, 2.50%, 07/25/2026 | PLN | 4,870 | 1,042 | |||||
Series 727, 2.50%, 07/25/2027 | PLN | 8,450 | 1,761 | |||||
Series 728, 7.50%, 07/25/2028 | PLN | 3,050 | 763 | |||||
Series 1024, 2.25%, 10/25/2024 | PLN | 5,960 | 1,327 | |||||
Series 1026, 0.25%, 10/25/2026 | PLN | 6,040 | 1,197 | |||||
Series 1029, 2.75%, 10/25/2029 | PLN | 3,773 | 749 | |||||
Series 1030, 1.25%, 10/25/2030 | PLN | 5,923 | 1,023 | |||||
Series 1033, 6.00%, 10/25/2033 | PLN | 1,730 | 399 | |||||
Republic of Poland Government International Bond, (Poland), | ||||||||
Reg. S, 0.00%, 02/10/2025 | EUR | 160 | 160 | |||||
Reg. S, 0.88%, 05/10/2027 | EUR | 1,900 | 1,805 | |||||
Reg. S, 1.13%, 08/07/2026 | EUR | 1,825 | 1,787 | |||||
Reg. S, 1.38%, 10/22/2027 | EUR | 6,000 | 5,781 | |||||
Reg. S, 2.00%, 03/08/2049 | EUR | 53 | 35 | |||||
Reg. S, 2.38%, 01/18/2036 | EUR | 1,000 | 852 | |||||
Reg. S, 2.75%, 05/25/2032 | EUR | 3,000 | 2,856 | |||||
Reg. S, 4.25%, 02/14/2043 | EUR | 5,000 | 4,884 | |||||
Reg. S, 5.25%, 01/20/2025 | EUR | 1,000 | 1,072 | |||||
Romania Government Bond, (Romania), | ||||||||
Series 5Y, 3.25%, 06/24/2026 | RON | 2,215 | 433 | |||||
Series 5Y, 3.65%, 07/28/2025 | RON | 9,970 | 2,024 | |||||
Series 5Y, 4.25%, 04/28/2036 | RON | 1,215 | 197 | |||||
Series 6Y, 8.75%, 10/30/2028 | RON | 2,100 | 482 | |||||
Series 7Y, 2.50%, 10/25/2027 | RON | 1,350 | 245 | |||||
Series 8Y, 4.15%, 01/26/2028 | RON | 1,930 | 372 | |||||
Series 10YR, 4.15%, 10/24/2030 | RON | 3,055 | 555 | |||||
Series 10Y, 6.70%, 02/25/2032 | RON | 3,130 | 651 | |||||
Series 10Y, 8.25%, 09/29/2032 | RON | 3,330 | 759 | |||||
Series 15Y, 7.90%, 02/24/2038 | RON | 1,650 | 375 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Romanian Government International Bond, (Romania), | ||||||||
Reg. S, 1.38%, 12/02/2029 | EUR | 2,000 | 1,620 | |||||
Reg. S, 1.75%, 07/13/2030 | EUR | 1,000 | 798 | |||||
Reg. S, 2.00%, 04/14/2033 | EUR | 1,500 | 1,089 | |||||
Reg. S, 2.12%, 07/16/2031 | EUR | 3,000 | 2,347 | |||||
Reg. S, 2.13%, 03/07/2028 | EUR | 3,000 | 2,748 | |||||
Reg. S, 2.38%, 04/19/2027 | EUR | 2,000 | 1,927 | |||||
Reg. S, 2.63%, 12/02/2040 | EUR | 1,000 | 620 | |||||
Reg. S, 2.75%, 10/29/2025 | EUR | 6,000 | 6,118 | |||||
Reg. S, 2.75%, 02/26/2026 | EUR | 15 | 15 | |||||
Reg. S, 2.75%, 04/14/2041 | EUR | 800 | 495 | |||||
Reg. S, 2.88%, 10/28/2024 | EUR | 1,475 | 1,531 | |||||
Reg. S, 2.88%, 04/13/2042 | EUR | 1,000 | 620 | |||||
Reg. S, 3.38%, 02/08/2038 | EUR | 1,425 | 1,057 | |||||
Reg. S, 3.38%, 01/28/2050 | EUR | 1,265 | 789 | |||||
Reg. S, 3.62%, 05/26/2030 | EUR | 1,875 | 1,703 | |||||
Reg. S, 3.75%, 02/07/2034 | EUR | 1,000 | 833 | |||||
Reg. S, 3.88%, 10/29/2035 | EUR | 5,000 | 4,106 | |||||
Reg. S, 4.63%, 04/03/2049 | EUR | 2,000 | 1,567 | |||||
Reg. S, 5.00%, 09/27/2026 | EUR | 1,000 | 1,059 | |||||
Reg. S, 6.63%, 09/27/2029 | EUR | 2,000 | 2,173 | |||||
Saudi Government International Bond, (Saudi Arabia), | ||||||||
Reg. S, 0.75%, 07/09/2027 | EUR | 2,200 | 2,069 | |||||
Reg. S, 2.00%, 07/09/2039 | EUR | 1,200 | 886 | |||||
SFIL SA, (France), | ||||||||
Reg. S, 0.05%, 06/04/2029 | EUR | 800 | 695 | |||||
Reg. S, 1.50%, 03/05/2032 | EUR | 300 | 268 | |||||
Singapore Government Bond, (Singapore), | ||||||||
1.88%, 03/01/2050 | SGD | 53 | 30 | |||||
2.13%, 06/01/2026 | SGD | 134 | 94 | |||||
2.38%, 07/01/2039 | SGD | 60 | 39 | |||||
2.75%, 04/01/2042 | SGD | 30 | 21 | |||||
2.75%, 03/01/2046 | SGD | 60 | 41 | |||||
2.88%, 07/01/2029 | SGD | 150 | 107 | |||||
2.88%, 09/01/2030 | SGD | 1,215 | 859 | |||||
Reg. S, 3.00%, 08/01/2072 | SGD | 20 | 14 | |||||
3.38%, 09/01/2033 | SGD | 340 | 248 | |||||
Slovakia Government Bond, (Slovakia), | ||||||||
Series 231, 0.63%, 05/22/2026 | EUR | 860 | 839 | |||||
Series 232, Reg. S, 1.88%, 03/09/2037 | EUR | 160 | 126 | |||||
Series 233, Reg. S, 2.00%, 10/17/2047 | EUR | 280 | 191 | |||||
Series 234, Reg. S, 1.00%, 06/12/2028 | EUR | 700 | 654 | |||||
Series 235, Reg. S, 2.25%, 06/12/2068 | EUR | 99 | 62 | |||||
Series 236, Reg. S, 0.75%, 04/09/2030 | EUR | 420 | 363 | |||||
Series 238, Reg. S, 0.25%, 05/14/2025 | EUR | 690 | 689 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Series 239, Reg. S, 1.00%, 05/14/2032 | EUR | 718 | 591 | |||||
Series 241, Reg. S, 0.13%, 06/17/2027 | EUR | 162 | 150 | |||||
Series 242, Reg. S, 0.38%, 04/21/2036 | EUR | 379 | 248 | |||||
Series 243, Reg. S, 1.00%, 10/13/2051 | EUR | 280 | 136 | |||||
Series 244, Reg. S, 4.00%, 10/19/2032 | EUR | 80 | 84 | |||||
Series 245, Reg. S, 3.75%, 02/23/2035 | EUR | 840 | 844 | |||||
Series 246, Reg. S, 4.00%, 02/23/2043 | EUR | 160 | 158 | |||||
Slovenia Government Bond, (Slovenia), | ||||||||
Series RS66, Reg. S, 4.63%, 09/09/2024 | EUR | 319 | 342 | |||||
Series RS70, Reg. S, 5.13%, 03/30/2026 | EUR | 470 | 514 | |||||
Series RS74, Reg. S, 1.50%, 03/25/2035 | EUR | 120 | 97 | |||||
Series RS76, Reg. S, 3.13%, 08/07/2045 | EUR | 160 | 146 | |||||
Series RS77, Reg. S, 2.25%, 03/03/2032 | EUR | 130 | 123 | |||||
Series RS78, Reg. S, 1.75%, 11/03/2040 | EUR | 212 | 158 | |||||
Series RS80, Reg. S, 1.00%, 03/06/2028 | EUR | 500 | 471 | |||||
Series RS82, Reg. S, 0.28%, 01/14/2030 | EUR | 586 | 503 | |||||
Series RS84, Reg. S, 0.88%, 07/15/2030 | EUR | 190 | 167 | |||||
Series RS85, Reg. S, 0.49%, 10/20/2050 | EUR | 190 | 83 | |||||
Series RS87, Reg. S, 0.69%, 03/03/2081 | EUR | 121 | 43 | |||||
Series RS91, Reg. S, 3.63%, 03/11/2033 | EUR | 760 | 800 | |||||
SNCF Reseau, (France), | ||||||||
Reg. S, 0.88%, 01/22/2029 | EUR | 200 | 184 | |||||
Reg. S, 1.00%, 11/09/2031 | EUR | 300 | 259 | |||||
Reg. S, 1.13%, 05/19/2027 | EUR | 500 | 485 | |||||
Reg. S, 1.13%, 05/25/2030 | EUR | 500 | 452 | |||||
Reg. S, 1.50%, 05/29/2037 | EUR | 300 | 235 | |||||
Reg. S, 2.00%, 11/12/2026 | CHF | 300 | 330 | |||||
Reg. S, 2.00%, 02/05/2048 | EUR | 100 | 69 | |||||
Reg. S, 2.25%, 12/20/2047 | EUR | 100 | 74 | |||||
Reg. S, 3.13%, 10/25/2028 | EUR | 500 | 518 | |||||
4.70%, 06/01/2035 | CAD | 100 | 71 | |||||
Reg. S, 4.83%, 03/25/2060 | GBP | 2,000 | 2,160 | |||||
Reg. S, 5.00%, 10/10/2033 | EUR | 200 | 231 | |||||
Reg. S, 5.00%, 03/11/2052 | GBP | 145 | 160 | |||||
Reg. S, 5.25%, 12/07/2028 | GBP | 300 | 370 | |||||
Societe Du Grand Paris EPIC, (France), | ||||||||
Reg. S, 0.00%, 11/25/2030 | EUR | 400 | 328 | |||||
Reg. S, 0.30%, 09/02/2036 | EUR | 200 | 134 | |||||
Reg. S, 0.70%, 10/15/2060 | EUR | 300 | 106 | |||||
Reg. S, 0.88%, 05/10/2046 | EUR | 100 | 55 | |||||
Reg. S, 1.00%, 11/26/2051 | EUR | 200 | 99 | |||||
Reg. S, 1.13%, 10/22/2028 | EUR | 700 | 659 | |||||
Reg. S, 1.13%, 05/25/2034 | EUR | 200 | 161 | |||||
Reg. S, 1.70%, 05/25/2050 | EUR | 300 | 190 | |||||
Reg. S, 3.50%, 05/25/2043 | EUR | 500 | 478 | |||||
Reg. S, 3.70%, 05/25/2053 | EUR | 200 | 191 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Societe Nationale SNCF SA, (France), | ||||||||
Reg. S, 0.63%, 04/17/2030 | EUR | 500 | 435 | |||||
Reg. S, 1.00%, 05/25/2040 | EUR | 100 | 65 | |||||
Reg. S, 1.00%, 01/19/2061 | EUR | 100 | 39 | |||||
Reg. S, 1.50%, 02/02/2029 | EUR | 300 | 284 | |||||
Reg. S, 3.38%, 05/25/2033 | EUR | 200 | 204 | |||||
Reg. S, 5.38%, 03/18/2027 | GBP | 400 | 489 | |||||
South Australian Government Financing Authority, (Australia), Reg. S, 2.00%, 05/23/2036 | AUD | 89 | 40 | |||||
Spain Government Bond, (Spain), | ||||||||
0.00%, 01/31/2025 | EUR | 5,469 | 5,512 | |||||
0.00%, 05/31/2025 | EUR | 2,600 | 2,592 | |||||
0.00%, 01/31/2026 | EUR | 3,200 | 3,122 | |||||
0.00%, 01/31/2027 | EUR | 1,730 | 1,632 | |||||
Reg. S, 0.00%, 01/31/2028 (e) | EUR | 3,878 | 3,536 | |||||
Reg. S, 0.10%, 04/30/2031 (e) | EUR | 1,030 | 835 | |||||
Reg. S, 0.50%, 04/30/2030 (e) | EUR | 6,473 | 5,622 | |||||
Reg. S, 0.50%, 10/31/2031 (e) | EUR | 4,438 | 3,655 | |||||
Reg. S, 0.60%, 10/31/2029 (e) | EUR | 980 | 871 | |||||
Reg. S, 0.70%, 04/30/2032 (e) | EUR | 2,660 | 2,192 | |||||
Reg. S, 0.80%, 07/30/2027 (e) | EUR | 3,441 | 3,294 | |||||
0.80%, 07/30/2029 | EUR | 1,100 | 997 | |||||
Reg. S, 0.85%, 07/30/2037 (e) | EUR | 4,393 | 3,045 | |||||
Reg. S, 1.00%, 07/30/2042 (e) | EUR | 1,293 | 788 | |||||
Reg. S, 1.00%, 10/31/2050 (e) | EUR | 3,300 | 1,631 | |||||
Reg. S, 1.20%, 10/31/2040 (e) | EUR | 2,511 | 1,668 | |||||
Reg. S, 1.25%, 10/31/2030 (e) | EUR | 2,458 | 2,217 | |||||
Reg. S, 1.30%, 10/31/2026 (e) | EUR | 2,251 | 2,232 | |||||
Reg. S, 1.40%, 04/30/2028 (e) | EUR | 3,456 | 3,337 | |||||
Reg. S, 1.40%, 07/30/2028 (e) | EUR | 1,991 | 1,913 | |||||
Reg. S, 1.45%, 10/31/2027 (e) | EUR | 4,440 | 4,338 | |||||
Reg. S, 1.45%, 04/30/2029 (e) | EUR | 5,130 | 4,862 | |||||
Reg. S, 1.45%, 10/31/2071 (e) | EUR | 799 | 347 | |||||
Reg. S, 1.50%, 04/30/2027 (e) | EUR | 1,325 | 1,309 | |||||
Reg. S, 1.60%, 04/30/2025 (e) | EUR | 2,810 | 2,882 | |||||
Reg. S, 1.85%, 07/30/2035 (e) | EUR | 2,233 | 1,886 | |||||
Reg. S, 1.90%, 10/31/2052 (e) | EUR | 1,512 | 933 | |||||
Reg. S, 1.95%, 04/30/2026 (e) | EUR | 2,228 | 2,268 | |||||
Reg. S, 1.95%, 07/30/2030 (e) | EUR | 1,840 | 1,752 | |||||
Reg. S, 2.15%, 10/31/2025 (e) | EUR | 3,525 | 3,630 | |||||
Reg. S, 2.35%, 07/30/2033 (e) | EUR | 2,341 | 2,171 | |||||
Reg. S, 2.55%, 10/31/2032 (e) | EUR | 3,290 | 3,147 | |||||
2.80%, 05/31/2026 | EUR | 1,600 | 1,661 | |||||
Reg. S, 2.90%, 10/31/2046 (e) | EUR | 1,463 | 1,216 | |||||
Reg. S, 3.15%, 04/30/2033 (e) | EUR | 4,020 | 4,010 | |||||
Reg. S, 3.45%, 07/30/2043 (e) | EUR | 1,630 | 1,510 | |||||
Reg. S, 3.45%, 07/30/2066 (e) | EUR | 1,660 | 1,394 | |||||
Reg. S, 3.55%, 10/31/2033 (e) | EUR | 1,240 | 1,272 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 3.90%, 07/30/2039 (e) | EUR | 750 | 758 | |||||
Reg. S, 4.20%, 01/31/2037 (e) | EUR | 773 | 825 | |||||
Reg. S, 4.65%, 07/30/2025 (e) | EUR | 1,956 | 2,107 | |||||
Reg. S, 4.70%, 07/30/2041 (e) | EUR | 1,404 | 1,556 | |||||
Reg. S, 4.90%, 07/30/2040 (e) | EUR | 2,689 | 3,043 | |||||
Reg. S, 5.15%, 10/31/2028 (e) | EUR | 2,576 | 2,928 | |||||
Reg. S, 5.15%, 10/31/2044 (e) | EUR | 1,721 | 2,014 | |||||
5.75%, 07/30/2032 | EUR | 1,706 | 2,070 | |||||
Reg. S, 5.90%, 07/30/2026 (e) | EUR | 2,920 | 3,282 | |||||
6.00%, 01/31/2029 | EUR | 1,780 | 2,106 | |||||
Series 30Y, Reg. S, 2.70%, 10/31/2048 (e) | EUR | 2,634 | 2,066 | |||||
State of Brandenburg, (Germany), | ||||||||
Reg. S, 0.13%, 01/26/2046 | EUR | 259 | 126 | |||||
Reg. S, 1.45%, 11/26/2038 | EUR | 180 | 142 | |||||
Reg. S, 2.50%, 01/25/2029 | EUR | 200 | 203 | |||||
Reg. S, 3.00%, 02/27/2032 | EUR | 200 | 206 | |||||
State of Bremen, (Germany), | ||||||||
Series 215, Reg. S, 1.20%, 01/30/2034 | EUR | 40 | 34 | |||||
Series 224, Reg. S, 0.40%, 08/20/2049 | EUR | 30 | 14 | |||||
Series 232, Reg. S, 0.55%, 02/04/2050 | EUR | 30 | 15 | |||||
Series 247, Reg. S, 0.15%, 09/14/2040 | EUR | 310 | 182 | |||||
Series 250, Reg. S, 0.01%, 10/06/2028 | EUR | 640 | 574 | |||||
Series 258, Reg. S, 0.50%, 05/06/2041 | EUR | 138 | 85 | |||||
State of Hesse, (Germany), | ||||||||
Reg. S, 0.13%, 10/10/2031 | EUR | 203 | 166 | |||||
Reg. S, 0.88%, 12/10/2024 | EUR | 600 | 613 | |||||
Series 1801, Reg. S, 0.63%, 08/02/2028 | EUR | 230 | 214 | |||||
Series 2006, Reg. S, 0.01%, 03/11/2030 | EUR | 100 | 86 | |||||
Series 2301, 2.88%, 01/10/2033 | EUR | 800 | 813 | |||||
State of Israel, (Israel), 3.38%, 01/15/2050 | 200 | 132 | ||||||
State of Lower Austria, (Austria), Reg. S, 3.63%, 10/04/2033 (w) | EUR | 100 | 105 | |||||
State of Lower Saxony, (Germany), | ||||||||
Reg. S, 0.00%, 02/11/2027 | EUR | 1,310 | 1,237 | |||||
Reg. S, 0.01%, 01/10/2031 | EUR | 479 | 398 | |||||
Reg. S, 0.05%, 03/09/2035 | EUR | 277 | 198 | |||||
Reg. S, 0.38%, 05/14/2029 | EUR | 500 | 450 | |||||
Reg. S, 1.50%, 10/17/2029 | EUR | 200 | 190 | |||||
Series 884, Reg. S, 0.88%, 10/25/2028 | EUR | 320 | 300 | |||||
Series 898, Reg. S, 0.01%, 08/13/2030 | EUR | 149 | 126 | |||||
Series 901, Reg. S, 0.01%, 11/25/2027 | EUR | 640 | 590 | |||||
State of North Rhine-Westphalia Germany, (Germany), | ||||||||
Reg. S, 0.00%, 01/15/2029 | EUR | 161 | 143 | |||||
Reg. S, 0.20%, 04/09/2030 | EUR | 694 | 601 | |||||
Reg. S, 0.20%, 01/27/2051 | EUR | 270 | 114 | |||||
Reg. S, 0.38%, 09/02/2050 | EUR | 713 | 326 | |||||
Reg. S, 0.50%, 11/25/2039 | EUR | 110 | 72 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 0.60%, 06/04/2041 | EUR | 300 | 189 | |||||
Reg. S, 0.75%, 08/16/2041 | EUR | 360 | 233 | |||||
Reg. S, 0.80%, 07/30/2049 | EUR | 100 | 55 | |||||
Reg. S, 0.90%, 11/15/2028 | EUR | 600 | 563 | |||||
Reg. S, 0.95%, 03/13/2028 | EUR | 144 | 137 | |||||
Reg. S, 0.95%, 01/10/2121 | EUR | 195 | 68 | |||||
Reg. S, 1.00%, 10/16/2046 | EUR | 300 | 185 | |||||
Reg. S, 1.38%, 01/15/2120 | EUR | 434 | 189 | |||||
Reg. S, 1.45%, 02/16/2043 | EUR | 100 | 72 | |||||
Reg. S, 1.45%, 01/19/2122 | EUR | 150 | 66 | |||||
Reg. S, 1.65%, 02/22/2038 | EUR | 480 | 396 | |||||
Reg. S, 1.65%, 05/16/2047 | EUR | 620 | 443 | |||||
Reg. S, 1.75%, 10/26/2057 | EUR | 172 | 112 | |||||
Reg. S, 1.75%, 07/11/2068 | EUR | 104 | 62 | |||||
Reg. S, 1.95%, 09/26/2078 | EUR | 254 | 157 | |||||
Reg. S, 2.13%, 06/13/2025 | GBP | 1,000 | 1,156 | |||||
Reg. S, 2.15%, 03/21/2119 | EUR | 376 | 238 | |||||
Reg. S, 2.75%, 01/15/2032 | EUR | 430 | 435 | |||||
Reg. S, 2.90%, 01/15/2053 | EUR | 390 | 353 | |||||
Reg. S, 3.40%, 03/07/2073 | EUR | 180 | 177 | |||||
Series 15YR, Reg. S, 0.00%, 10/12/2035 | EUR | 654 | 453 | |||||
Series 15YR, Reg. S, 1.10%, 03/13/2034 | EUR | 240 | 202 | |||||
Series 1250, Reg. S, 2.38%, 05/13/2033 | EUR | 350 | 339 | |||||
Series 1409, Reg. S, 0.50%, 04/16/2026 | EUR | 980 | 961 | |||||
Series 1439, Reg. S, 1.55%, 06/16/2048 | EUR | 200 | 138 | |||||
State of Rhineland-Palatinate, (Germany), | ||||||||
Reg. S, 0.01%, 01/21/2031 | EUR | 410 | 341 | |||||
Reg. S, 0.38%, 01/26/2027 | EUR | 220 | 210 | |||||
Reg. S, 0.38%, 03/10/2051 | EUR | 200 | 91 | |||||
Reg. S, 0.75%, 01/19/2026 | EUR | 725 | 720 | |||||
State of Saarland, (Germany), Reg. S, 0.05%, 11/05/2040 | EUR | 68 | 39 | |||||
State of Saxony-Anhalt, (Germany), | ||||||||
Reg. S, 0.00%, 03/10/2031 | EUR | 280 | 232 | |||||
0.35%, 02/09/2032 | EUR | 100 | 83 | |||||
Reg. S, 0.50%, 03/24/2051 | EUR | 123 | 59 | |||||
Series 10Y, Reg. S, 0.75%, 01/29/2029 | EUR | 200 | 185 | |||||
State of Schleswig-Holstein Germany, (Germany), | ||||||||
Reg. S, 0.05%, 07/08/2031 | EUR | 400 | 329 | |||||
Reg. S, 0.13%, 06/12/2029 | EUR | 331 | 293 | |||||
Reg. S, 0.38%, 02/08/2027 | EUR | 310 | 297 | |||||
Reg. S, 0.50%, 03/22/2029 | EUR | 140 | 127 | |||||
Reg. S, 0.63%, 08/31/2028 | EUR | 140 | 130 | |||||
Reg. S, 3.00%, 08/16/2033 | EUR | 400 | 409 | |||||
State of the Grand-Duchy of Luxembourg, (Luxembourg), | ||||||||
Reg. S, 0.00%, 03/24/2031 | EUR | 103 | 86 | |||||
Reg. S, 0.00%, 09/14/2032 | EUR | 400 | 316 | |||||
Reg. S, 1.38%, 05/25/2029 | EUR | 380 | 364 | |||||
Reg. S, 1.75%, 05/25/2042 | EUR | 360 | 286 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
States of Guernsey Bond, (Guernsey), Reg. S, 3.38%, 12/12/2046 | GBP | 200 | 175 | |||||
Svensk Exportkredit AB, (Sweden), | ||||||||
Zero Coupon, 05/11/2037 | 224 | 105 | ||||||
Reg. S, 2.00%, 06/30/2027 | EUR | 1,000 | 999 | |||||
Sweden Government Bond, (Sweden), | ||||||||
Series 1053, Reg. S, 3.50%, 03/30/2039 | SEK | 5,820 | 565 | |||||
Series 1056, Reg. S, 2.25%, 06/01/2032 | SEK | 9,200 | 798 | |||||
Series 1058, Reg. S, 2.50%, 05/12/2025 (e) | SEK | 5,100 | 459 | |||||
Series 1059, Reg. S, 1.00%, 11/12/2026 | SEK | 17,300 | 1,480 | |||||
Series 1060, Reg. S, 0.75%, 05/12/2028 (e) | SEK | 16,175 | 1,335 | |||||
Series 1061, Reg. S, 0.75%, 11/12/2029 (e) | SEK | 7,090 | 569 | |||||
Series 1062, Reg. S, 0.13%, 05/12/2031 (e) | SEK | 5,705 | 423 | |||||
Series 1063, Reg. S, 0.50%, 11/24/2045 | SEK | 2,100 | 114 | |||||
Series 1064, Reg. S, 1.38%, 06/23/2071 (e) | SEK | 570 | 29 | |||||
Series 1065, Reg. S, 1.75%, 11/11/2033 | SEK | 2,830 | 233 | |||||
Swiss Confederation Government Bond, (Switzerland), | ||||||||
Reg. S, 0.00%, 06/22/2029 | CHF | 670 | 689 | |||||
Reg. S, 0.00%, 06/26/2034 | CHF | 1,429 | 1,388 | |||||
Reg. S, 0.00%, 07/24/2039 | CHF | 1,059 | 968 | |||||
Reg. S, 0.50%, 05/27/2030 | CHF | 540 | 570 | |||||
Reg. S, 0.50%, 06/27/2032 | CHF | 990 | 1,031 | |||||
Reg. S, 0.50%, 06/28/2045 | CHF | 570 | 548 | |||||
Reg. S, 0.50%, 05/24/2055 | CHF | 372 | 342 | |||||
Reg. S, 0.50%, 05/30/2058 | CHF | 160 | 147 | |||||
Reg. S, 1.25%, 06/11/2024 | CHF | 410 | 447 | |||||
Reg. S, 1.25%, 05/28/2026 | CHF | 550 | 602 | |||||
Reg. S, 1.25%, 06/27/2037 | CHF | 330 | 367 | |||||
Reg. S, 1.50%, 07/24/2025 | CHF | 190 | 208 | |||||
Reg. S, 1.50%, 04/30/2042 | CHF | 240 | 279 | |||||
Reg. S, 2.00%, 06/25/2064 | CHF | 411 | 602 | |||||
Reg. S, 2.25%, 06/22/2031 | CHF | 52 | 62 | |||||
Reg. S, 3.25%, 06/27/2027 | CHF | 510 | 600 | |||||
Reg. S, 4.00%, 04/08/2028 | CHF | 663 | 818 | |||||
Reg. S, 4.00%, 01/06/2049 | CHF | 440 | 788 | |||||
Thailand Government Bond, (Thailand), | ||||||||
1.45%, 12/17/2024 | THB | 3,270 | 89 | |||||
1.59%, 12/17/2035 | THB | 1,400 | 32 | |||||
1.60%, 12/17/2029 | THB | 54,000 | 1,373 | |||||
2.13%, 12/17/2026 | THB | 4,024 | 109 | |||||
2.40%, 03/17/2029 | THB | 2,000 | 53 | |||||
2.65%, 06/17/2028 | THB | 1,000 | 27 | |||||
2.75%, 06/17/2052 | THB | 740 | 17 | |||||
2.88%, 06/17/2046 | THB | 1,430 | 34 | |||||
3.40%, 06/17/2036 | THB | 4,000 | 110 | |||||
3.45%, 06/17/2043 | THB | 980 | 26 | |||||
3.65%, 06/20/2031 | THB | 3,480 | 99 | |||||
4.00%, 06/17/2066 | THB | 1,620 | 46 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Tokyo Metropolitan Government, (Japan), Reg. S, 0.75%, 07/16/2025 | 1,000 | 917 | ||||||
Treasury Corp. of Victoria, (Australia), | ||||||||
2.25%, 11/20/2034 | AUD | 500 | 241 | |||||
2.25%, 11/20/2041 | AUD | 500 | 199 | |||||
Reg. S, 2.50%, 10/22/2029 | AUD | 200 | 115 | |||||
Reg. S, 4.75%, 09/15/2036 | AUD | 100 | 60 | |||||
5.50%, 11/17/2026 | AUD | 100 | 66 | |||||
Tyollisyysrahasto, (Finland), 0.01%, 06/16/2027 | EUR | 200 | 186 | |||||
U.S. Treasury Notes, | ||||||||
2.63%, 04/15/2025 | 2,000 | 1,924 | ||||||
4.13%, 09/30/2027 | 507 | 496 | ||||||
4.38%, 08/31/2028 | 865 | 857 | ||||||
UNEDIC ASSEO, (France), | ||||||||
Reg. S, 0.00%, 03/05/2030 | EUR | 100 | 85 | |||||
Reg. S, 0.00%, 11/19/2030 | EUR | 200 | 166 | |||||
Reg. S, 0.01%, 05/25/2031 | EUR | 1,700 | 1,392 | |||||
Reg. S, 0.10%, 11/25/2026 | EUR | 600 | 571 | |||||
Reg. S, 0.25%, 11/25/2029 | EUR | 1,000 | 875 | |||||
Reg. S, 0.25%, 07/16/2035 | EUR | 300 | 215 | |||||
Reg. S, 0.50%, 05/25/2036 | EUR | 300 | 214 | |||||
Reg. S, 0.63%, 03/03/2026 | EUR | 100 | 99 | |||||
Reg. S, 1.25%, 10/21/2027 | EUR | 200 | 194 | |||||
Reg. S, 1.25%, 05/25/2033 | EUR | 200 | 173 | |||||
Reg. S, 1.75%, 11/25/2032 | EUR | 300 | 275 | |||||
United Kingdom Gilt, (United Kingdom), | ||||||||
Reg. S, 0.13%, 01/30/2026 | GBP | 5,130 | 5,670 | |||||
Reg. S, 0.13%, 01/31/2028 | GBP | 6,677 | 6,809 | |||||
Reg. S, 0.25%, 01/31/2025 | GBP | 4,950 | 5,689 | |||||
Reg. S, 0.25%, 07/31/2031 | GBP | 6,396 | 5,712 | |||||
Reg. S, 0.38%, 10/22/2026 | GBP | 2,207 | 2,382 | |||||
Reg. S, 0.38%, 10/22/2030 | GBP | 6,632 | 6,180 | |||||
Reg. S, 0.50%, 01/31/2029 | GBP | 4,670 | 4,661 | |||||
Reg. S, 0.50%, 10/22/2061 | GBP | 3,012 | 998 | |||||
Reg. S, 0.63%, 06/07/2025 | GBP | 4,858 | 5,548 | |||||
Reg. S, 0.63%, 07/31/2035 | GBP | 6,684 | 5,245 | |||||
Reg. S, 0.63%, 10/22/2050 | GBP | 3,556 | 1,602 | |||||
Reg. S, 0.88%, 10/22/2029 | GBP | 2,150 | 2,155 | |||||
Reg. S, 0.88%, 07/31/2033 | GBP | 5,401 | 4,739 | |||||
Reg. S, 0.88%, 01/31/2046 | GBP | 2,859 | 1,609 | |||||
Reg. S, 1.00%, 01/31/2032 | GBP | 3,752 | 3,513 | |||||
Reg. S, 1.13%, 01/31/2039 | GBP | 2,696 | 2,005 | |||||
Reg. S, 1.13%, 10/22/2073 | GBP | 1,127 | 463 | |||||
Reg. S, 1.25%, 07/22/2027 | GBP | 3,271 | 3,561 | |||||
Reg. S, 1.25%, 10/22/2041 | GBP | 3,291 | 2,312 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities continued |
||||||||
Reg. S, 1.25%, 07/31/2051 | GBP | 3,396 | 1,881 | |||||
Reg. S, 1.50%, 07/22/2026 | GBP | 4,930 | 5,558 | |||||
Reg. S, 1.50%, 07/22/2047 | GBP | 2,153 | 1,388 | |||||
Reg. S, 1.50%, 07/31/2053 | GBP | 2,190 | 1,273 | |||||
Reg. S, 1.63%, 10/22/2028 | GBP | 4,345 | 4,671 | |||||
Reg. S, 1.63%, 10/22/2054 | GBP | 2,351 | 1,400 | |||||
Reg. S, 1.63%, 10/22/2071 | GBP | 2,260 | 1,193 | |||||
Reg. S, 1.75%, 09/07/2037 | GBP | 1,989 | 1,706 | |||||
Reg. S, 1.75%, 01/22/2049 | GBP | 6,120 | 4,112 | |||||
Reg. S, 1.75%, 07/22/2057 | GBP | 3,284 | 1,993 | |||||
Reg. S, 2.00%, 09/07/2025 | GBP | 6,373 | 7,394 | |||||
Reg. S, 2.50%, 07/22/2065 | GBP | 2,112 | 1,546 | |||||
Reg. S, 3.25%, 01/31/2033 | GBP | 3,560 | 3,960 | |||||
Reg. S, 3.25%, 01/22/2044 | GBP | 8,330 | 8,050 | |||||
Reg. S, 3.50%, 01/22/2045 | GBP | 3,387 | 3,377 | |||||
Reg. S, 3.50%, 07/22/2068 | GBP | 2,089 | 1,979 | |||||
Reg. S, 3.75%, 01/29/2038 | GBP | 6,500 | 7,134 | |||||
Reg. S, 3.75%, 07/22/2052 | GBP | 1,027 | 1,037 | |||||
Reg. S, 3.75%, 10/22/2053 | GBP | 4,290 | 4,307 | |||||
Reg. S, 4.00%, 01/22/2060 | GBP | 1,628 | 1,723 | |||||
Reg. S, 4.00%, 10/22/2063 | GBP | 1,890 | 1,991 | |||||
Reg. S, 4.13%, 01/29/2027 | GBP | 4,570 | 5,496 | |||||
Reg. S, 4.25%, 12/07/2027 | GBP | 2,300 | 2,792 | |||||
Reg. S, 4.25%, 06/07/2032 | GBP | 1,620 | 1,967 | |||||
Reg. S, 4.25%, 03/07/2036 | GBP | 999 | 1,181 | |||||
Reg. S, 4.25%, 09/07/2039 | GBP | 1,194 | 1,375 | |||||
Reg. S, 4.25%, 12/07/2040 | GBP | 2,985 | 3,414 | |||||
Reg. S, 4.25%, 12/07/2046 | GBP | 3,948 | 4,392 | |||||
Reg. S, 4.25%, 12/07/2049 (ff) | GBP | 1,387 | 1,535 | |||||
Reg. S, 4.25%, 12/07/2055 | GBP | 1,689 | 1,865 | |||||
Reg. S, 4.50%, 06/07/2028 | GBP | 1,150 | 1,403 | |||||
Reg. S, 4.50%, 09/07/2034 | GBP | 1,549 | 1,890 | |||||
Reg. S, 4.50%, 12/07/2042 | GBP | 1,115 | 1,307 | |||||
Reg. S, 4.75%, 12/07/2030 | GBP | 3,376 | 4,235 | |||||
Reg. S, 4.75%, 12/07/2038 | GBP | 2,079 | 2,551 | |||||
Reg. S, 5.00%, 03/07/2025 | GBP | 1,928 | 2,359 | |||||
Reg. S, 6.00%, 12/07/2028 | GBP | 912 | 1,198 | |||||
United States International Development Finance Corp., 3.37%, 10/05/2034 | 85 | 75 | ||||||
Ville de Paris, (France), | ||||||||
Reg. S, 1.38%, 11/20/2034 | EUR | 100 | 82 | |||||
Reg. S, 1.63%, 02/02/2033 | EUR | 200 | 176 | |||||
Reg. S, 1.75%, 05/25/2031 | EUR | 200 | 186 | |||||
3.88%, 12/29/2025 | EUR | 500 | 529 | |||||
Western Australian Treasury Corp., (Australia), Reg. S, 2.25%, 07/23/2041 | AUD | 100 | 41 | |||||
Xunta de Galicia, (Spain), Reg. S, 0.27%, 07/30/2028 | EUR | 300 | 269 | |||||
|
|
|||||||
Total Foreign Government Securities (Cost $3,460,776) |
3,099,908 | |||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities 14.1% |
||||||||
FHLMC Gold Pool, | ||||||||
3.00%, 10/01/2046 | 174 | 145 | ||||||
3.50%, 12/01/2044 | 404 | 346 | ||||||
3.50%, 06/01/2045 (hh) | 812 | 696 | ||||||
3.50%, 05/01/2046 | 130 | 112 | ||||||
3.50%, 10/01/2046 | 183 | 157 | ||||||
FHLMC Gold Pool, Single Family, 15 years, 3.00%, 05/01/2029 | 4,610 | 4,419 | ||||||
FHLMC Gold Pool, Single Family, 30 years, | ||||||||
3.00%, 03/01/2046 | 17 | 15 | ||||||
3.00%, 12/01/2046 | 28 | 24 | ||||||
4.00%, 08/01/2040 | 268 | 246 | ||||||
4.00%, 10/01/2040 | 2,284 | 2,097 | ||||||
4.00%, 11/01/2040 | 548 | 503 | ||||||
4.00%, 11/01/2047 | 1,673 | 1,526 | ||||||
4.00%, 01/01/2048 | 36 | 32 | ||||||
FHLMC Non Gold Pool, ARM, (USD IBOR Consumer Cash Fallbacks 1 Year + 1.64%), 3.61%, 01/01/2050 (aa) | 55 | 52 | ||||||
FHLMC Pool, | ||||||||
3.05%, 03/01/2032 | 885 | 744 | ||||||
3.50%, 02/01/2043 | 58 | 51 | ||||||
3.50%, 02/01/2044 | 80 | 70 | ||||||
6.00%, 08/01/2035 | 53 | 52 | ||||||
FHLMC Pool, Single Family, 15 years, | ||||||||
1.50%, 12/01/2035 | 360 | 302 | ||||||
1.50%, 03/01/2036 | 550 | 461 | ||||||
1.50%, 02/01/2037 | 790 | 659 | ||||||
1.50%, 03/01/2037 | 820 | 684 | ||||||
2.00%, 12/01/2035 | 713 | 616 | ||||||
2.00%, 02/01/2036 | 4,878 | 4,207 | ||||||
2.00%, 03/01/2036 | 406 | 350 | ||||||
2.00%, 05/01/2036 | 2,472 | 2,130 | ||||||
2.00%, 08/01/2036 | 1,169 | 1,007 | ||||||
2.00%, 10/01/2036 | 634 | 546 | ||||||
2.00%, 11/01/2036 | 3,533 | 3,042 | ||||||
2.00%, 12/01/2036 | 358 | 309 | ||||||
2.00%, 01/01/2037 | 4,284 | 3,691 | ||||||
2.00%, 04/01/2037 | 1,602 | 1,374 | ||||||
2.00%, 05/01/2037 | 993 | 852 | ||||||
2.00%, 06/01/2037 | 1,892 | 1,624 | ||||||
2.50%, 07/01/2032 | 2,051 | 1,854 | ||||||
2.50%, 10/01/2035 | 7,970 | 7,050 | ||||||
2.50%, 07/01/2036 | 1,256 | 1,110 | ||||||
2.50%, 04/01/2037 | 150 | 132 | ||||||
2.50%, 05/01/2037 | 370 | 327 | ||||||
3.00%, 04/01/2028 | 33 | 31 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
3.00%, 10/01/2028 | 1,139 | 1,088 | ||||||
3.00%, 04/01/2029 | 34 | 32 | ||||||
3.00%, 05/01/2030 | 5 | 5 | ||||||
3.00%, 06/01/2030 | 553 | 516 | ||||||
3.00%, 11/01/2030 | 104 | 96 | ||||||
3.00%, 11/01/2031 | 33 | 31 | ||||||
3.00%, 11/01/2032 | 105 | 97 | ||||||
3.00%, 01/01/2033 | 50 | 46 | ||||||
3.50%, 11/01/2025 | 246 | 240 | ||||||
3.50%, 09/01/2033 | 282 | 265 | ||||||
3.50%, 02/01/2034 | 696 | 655 | ||||||
3.50%, 05/01/2035 | 583 | 547 | ||||||
3.50%, 12/01/2035 | 51 | 47 | ||||||
3.50%, 02/01/2036 | 176 | 163 | ||||||
4.00%, 07/01/2025 | 13 | 13 | ||||||
4.00%, 05/01/2026 | 11 | 10 | ||||||
4.00%, 07/01/2029 | 245 | 236 | ||||||
4.00%, 11/01/2033 | 179 | 174 | ||||||
4.00%, 01/01/2034 | 15 | 14 | ||||||
FHLMC Pool, Single Family, 20 years, | ||||||||
3.00%, 07/01/2042 (hh) | 350 | 296 | ||||||
3.00%, 08/01/2042 | 126 | 106 | ||||||
3.50%, 06/01/2039 | 255 | 227 | ||||||
3.50%, 07/01/2039 | 151 | 134 | ||||||
3.50%, 08/01/2039 | 570 | 506 | ||||||
3.50%, 09/01/2039 | 351 | 313 | ||||||
FHLMC Pool, Single Family, 30 years, | ||||||||
1.50%, 02/01/2051 | 26 | 19 | ||||||
1.50%, 04/01/2051 | 49 | 35 | ||||||
1.50%, 05/01/2051 | 5,432 | 3,910 | ||||||
1.50%, 07/01/2051 | 910 | 656 | ||||||
2.00%, 09/01/2050 | 716 | 549 | ||||||
2.00%, 10/01/2050 | 4,369 | 3,346 | ||||||
2.00%, 02/01/2051 | 3,974 | 3,038 | ||||||
2.00%, 03/01/2051 | 2,884 | 2,205 | ||||||
2.00%, 05/01/2051 | 11,255 | 8,605 | ||||||
2.00%, 06/01/2051 | 1,343 | 1,027 | ||||||
2.00%, 07/01/2051 | 1,369 | 1,051 | ||||||
2.00%, 10/01/2051 | 1,762 | 1,353 | ||||||
2.00%, 11/01/2051 | 5,709 | 4,363 | ||||||
2.00%, 12/01/2051 | 4,476 | 3,416 | ||||||
2.00%, 01/01/2052 | 482 | 368 | ||||||
2.00%, 02/01/2052 | 2,161 | 1,649 | ||||||
2.00%, 03/01/2052 | 813 | 620 | ||||||
2.50%, 11/01/2050 | 22,431 | 17,958 | ||||||
2.50%, 12/01/2050 | 782 | 623 | ||||||
2.50%, 02/01/2051 | 12,464 | 9,933 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
2.50%, 04/01/2051 | 402 | 322 | ||||||
2.50%, 08/01/2051 (gg) | 14,184 | 11,411 | ||||||
2.50%, 11/01/2051 | 807 | 643 | ||||||
2.50%, 02/01/2052 | 2,306 | 1,835 | ||||||
2.50%, 03/01/2052 (hh) | 1,734 | 1,386 | ||||||
2.50%, 04/01/2052 | 206 | 165 | ||||||
3.00%, 02/01/2049 | 2,164 | 1,833 | ||||||
3.00%, 11/01/2049 | 1,573 | 1,323 | ||||||
3.00%, 05/01/2050 | 3,532 | 2,980 | ||||||
3.00%, 07/01/2050 | 1,908 | 1,593 | ||||||
3.00%, 08/01/2050 | 3,910 | 3,280 | ||||||
3.00%, 10/01/2050 | 793 | 661 | ||||||
3.00%, 12/01/2050 | 262 | 219 | ||||||
3.00%, 06/01/2051 | 3,180 | 2,642 | ||||||
3.00%, 07/01/2051 | 6,090 | 5,119 | ||||||
3.00%, 11/01/2051 | 9,301 | 7,717 | ||||||
3.00%, 12/01/2051 | 10,926 | 9,062 | ||||||
3.00%, 02/01/2052 | 2,553 | 2,116 | ||||||
3.00%, 03/01/2052 | 3,507 | 2,910 | ||||||
3.00%, 04/01/2052 | 6,533 | 5,425 | ||||||
3.50%, 03/01/2042 | 2 | 2 | ||||||
3.50%, 07/01/2043 | 2 | 2 | ||||||
3.50%, 11/01/2047 | 323 | 283 | ||||||
3.50%, 02/01/2048 | 1,698 | 1,489 | ||||||
3.50%, 03/01/2048 | 288 | 254 | ||||||
3.50%, 05/01/2048 | 3,654 | 3,203 | ||||||
3.50%, 06/01/2048 | 4 | 3 | ||||||
3.50%, 01/01/2049 | 39 | 34 | ||||||
3.50%, 02/01/2049 | 536 | 473 | ||||||
3.50%, 09/01/2049 | 2,180 | 1,908 | ||||||
3.50%, 10/01/2049 | 1,992 | 1,742 | ||||||
3.50%, 04/01/2050 | 2,932 | 2,571 | ||||||
3.50%, 11/01/2051 | 480 | 414 | ||||||
3.50%, 01/01/2052 | 414 | 357 | ||||||
3.50%, 04/01/2052 | 1,749 | 1,507 | ||||||
3.50%, 06/01/2052 (gg) | 7,529 | 6,487 | ||||||
3.50%, 07/01/2052 | 1,967 | 1,695 | ||||||
3.50%, 08/01/2052 | 1,650 | 1,421 | ||||||
3.50%, 09/01/2052 | 16 | 13 | ||||||
4.00%, 10/01/2048 | 2,695 | 2,444 | ||||||
4.00%, 04/01/2049 | 2,208 | 1,999 | ||||||
4.00%, 09/01/2049 | 1,415 | 1,288 | ||||||
4.00%, 05/01/2050 | 1,013 | 919 | ||||||
4.00%, 08/01/2050 | 1,174 | 1,058 | ||||||
4.00%, 09/01/2050 | 9,518 | 8,580 | ||||||
4.00%, 04/01/2052 | 54 | 48 | ||||||
4.00%, 06/01/2052 | 939 | 838 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
4.00%, 07/01/2052 | 957 | 853 | ||||||
4.00%, 08/01/2052 | 2,897 | 2,585 | ||||||
4.00%, 09/01/2052 | 2,287 | 2,040 | ||||||
4.00%, 10/01/2052 | 579 | 520 | ||||||
4.00%, 02/01/2053 | 478 | 432 | ||||||
4.50%, 12/01/2047 | 178 | 167 | ||||||
4.50%, 04/01/2048 | 396 | 369 | ||||||
4.50%, 08/01/2048 | 20 | 19 | ||||||
4.50%, 09/01/2048 | 684 | 640 | ||||||
4.50%, 08/01/2049 | 1,308 | 1,225 | ||||||
4.50%, 09/01/2050 | 905 | 844 | ||||||
4.50%, 10/01/2050 | 3,531 | 3,266 | ||||||
4.50%, 07/01/2052 | 218 | 201 | ||||||
4.50%, 08/01/2052 | 147 | 135 | ||||||
4.50%, 09/01/2052 | 4,020 | 3,695 | ||||||
4.50%, 12/01/2052 | 961 | 888 | ||||||
4.50%, 08/01/2053 | 97 | 89 | ||||||
5.00%, 12/01/2049 | 392 | 377 | ||||||
5.00%, 08/01/2052 | 261 | 247 | ||||||
5.00%, 09/01/2052 | 609 | 578 | ||||||
5.00%, 10/01/2052 | 298 | 282 | ||||||
5.00%, 11/01/2052 | 255 | 241 | ||||||
5.00%, 01/01/2053 | 470 | 444 | ||||||
5.00%, 04/01/2053 | 1,313 | 1,240 | ||||||
5.00%, 06/01/2053 | 200 | 190 | ||||||
5.50%, 11/01/2052 | 407 | 395 | ||||||
5.50%, 12/01/2052 | 1,279 | 1,243 | ||||||
5.50%, 01/01/2053 | 886 | 861 | ||||||
5.50%, 02/01/2053 | 572 | 556 | ||||||
5.50%, 04/01/2053 | 409 | 396 | ||||||
5.50%, 05/01/2053 | 2,012 | 1,949 | ||||||
5.50%, 06/01/2053 | 108 | 104 | ||||||
6.00%, 08/01/2053 | 3,012 | 2,996 | ||||||
FNMA or FHLMC, Single Family, 15 years, | ||||||||
TBA, 1.50%, 10/01/2038 (w) | 1,166 | 972 | ||||||
TBA, 2.00%, 10/01/2052 (w) | 500 | 429 | ||||||
TBA, 2.50%, 10/25/2037 (w) | 1,100 | 970 | ||||||
TBA, 3.00%, 10/01/2038 (w) | 3,275 | 2,965 | ||||||
TBA, 3.50%, 10/01/2053 (w) | 4,250 | 3,931 | ||||||
TBA, 4.00%, 10/01/2053 (w) | 2,650 | 2,504 | ||||||
TBA, 4.50%, 10/01/2053 (w) | 6,800 | 6,530 | ||||||
FNMA or FHLMC, Single Family, 30 years, | ||||||||
TBA, 1.50%, 10/15/2052 (w) | 7,300 | 5,248 | ||||||
TBA, 2.00%, 10/01/2053 (w) | 113,250 | 86,284 | ||||||
TBA, 2.50%, 10/01/2052 (w) | 6,350 | 5,044 | ||||||
TBA, 2.50%, 11/01/2053 (w) | 2,400 | 1,910 | ||||||
TBA, 3.00%, 10/01/2053 (w) | 10,428 | 8,632 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
TBA, 3.00%, 11/01/2053 (w) | 500 | 415 | ||||||
TBA, 3.50%, 10/01/2053 (w) | 6,739 | 5,803 | ||||||
TBA, 4.00%, 10/01/2053 (w) | 5,150 | 4,590 | ||||||
TBA, 4.00%, 11/01/2053 (w) | 60,150 | 53,670 | ||||||
TBA, 4.50%, 10/01/2053 (w) | 3,793 | 3,485 | ||||||
TBA, 4.50%, 11/01/2053 (w) | 1,500 | 1,378 | ||||||
TBA, 5.00%, 10/01/2053 (w) | 8,479 | 8,004 | ||||||
TBA, 5.00%, 11/01/2053 (w) | 91,200 | 86,120 | ||||||
TBA, 5.50%, 11/01/2050 (w) | 38,600 | 37,318 | ||||||
TBA, 5.50%, 10/01/2053 (w) | 1,843 | 1,782 | ||||||
TBA, 6.00%, 10/01/2053 (w) | 5,375 | 5,307 | ||||||
TBA, 6.00%, 11/01/2053 (w) | 14,200 | 14,015 | ||||||
TBA, 6.50%, 10/01/2053 (w) | 25,100 | 25,225 | ||||||
FNMA Pool, | ||||||||
2.00%, 11/01/2027 | 315 | 296 | ||||||
2.32%, 01/01/2026 | 2,079 | 1,943 | ||||||
2.92%, 10/01/2025 (z) | 6,959 | 6,636 | ||||||
3.00%, 12/01/2042 | 243 | 206 | ||||||
3.00%, 06/01/2043 | 995 | 842 | ||||||
3.00%, 05/01/2045 | 320 | 266 | ||||||
3.00%, 07/01/2045 | 34 | 28 | ||||||
3.00%, 11/01/2046 | 30 | 25 | ||||||
3.00%, 03/01/2060 (gg) | 17,727 | 14,726 | ||||||
3.01%, 04/01/2032 | 4,105 | 3,500 | ||||||
3.02%, 03/01/2028 | 400 | 365 | ||||||
3.29%, 04/01/2027 | 2,600 | 2,430 | ||||||
3.29%, 03/01/2028 | 1,400 | 1,293 | ||||||
3.43%, 05/01/2028 | 500 | 463 | ||||||
3.44%, 01/01/2037 | 316 | 272 | ||||||
3.50%, 07/01/2024 | 38 | 37 | ||||||
3.50%, 09/01/2027 | 122 | 113 | ||||||
3.50%, 12/01/2028 | 55 | 52 | ||||||
3.50%, 08/01/2032 | 59 | 54 | ||||||
3.50%, 12/01/2042 | 143 | 126 | ||||||
3.50%, 04/01/2043 | 210 | 185 | ||||||
3.50%, 11/01/2043 | 103 | 91 | ||||||
3.50%, 02/01/2045 | 250 | 221 | ||||||
3.50%, 02/01/2048 | 750 | 643 | ||||||
3.50%, 09/01/2048 | 80 | 68 | ||||||
3.50%, 07/01/2049 | 288 | 245 | ||||||
4.00%, 04/01/2041 | 116 | 105 | ||||||
4.00%, 08/01/2046 | 102 | 94 | ||||||
4.13%, 08/01/2031 | 2,291 | 2,124 | ||||||
4.14%, 04/01/2028 | 521 | 498 | ||||||
4.25%, 01/01/2033 | 3,875 | 3,610 | ||||||
4.39%, 04/01/2033 | 552 | 516 | ||||||
4.50%, 06/01/2030 | 100 | 96 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
4.55%, 05/01/2028 | 100 | 97 | ||||||
4.59%, 06/01/2033 | 1,173 | 1,114 | ||||||
4.64%, 09/01/2028 | 229 | 224 | ||||||
4.79%, 06/01/2033 | 1,296 | 1,252 | ||||||
4.82%, 09/01/2028 | 700 | 689 | ||||||
4.83%, 12/01/2032 | 3,292 | 3,197 | ||||||
4.88%, 09/01/2028 | 1,101 | 1,086 | ||||||
4.99%, 03/01/2031 | 499 | 491 | ||||||
5.09%, 02/01/2031 | 1,755 | 1,736 | ||||||
5.17%, 08/01/2034 | 749 | 740 | ||||||
5.26%, 12/01/2029 | 1,252 | 1,251 | ||||||
5.57%, 10/01/2028 (w) (bb) | 435 | 436 | ||||||
FNMA Pool, 30 years, FHA/VA, 3.00%, 01/01/2047 | 835 | 726 | ||||||
FNMA Pool, Single Family, 15 years, | ||||||||
1.50%, 10/01/2036 | 525 | 441 | ||||||
1.50%, 11/01/2036 | 474 | 397 | ||||||
1.50%, 03/01/2037 | 459 | 382 | ||||||
1.50%, 05/01/2037 | 185 | 154 | ||||||
1.50%, 08/01/2037 | 512 | 427 | ||||||
2.00%, 02/01/2028 | 13 | 12 | ||||||
2.00%, 09/01/2028 | 106 | 100 | ||||||
2.00%, 11/01/2028 | 104 | 97 | ||||||
2.00%, 07/01/2032 | 9 | 8 | ||||||
2.00%, 12/01/2035 | 801 | 692 | ||||||
2.00%, 02/01/2036 | 5,913 | 5,096 | ||||||
2.00%, 03/01/2036 | 449 | 386 | ||||||
2.00%, 08/01/2036 | 1,144 | 986 | ||||||
2.00%, 11/01/2036 | 2,299 | 1,980 | ||||||
2.00%, 12/01/2036 | 1,172 | 1,008 | ||||||
2.00%, 01/01/2037 | 569 | 491 | ||||||
2.00%, 02/01/2037 | 962 | 825 | ||||||
2.00%, 04/01/2037 | 1,144 | 985 | ||||||
2.00%, 05/01/2037 | 686 | 589 | ||||||
2.50%, 08/01/2035 | 233 | 206 | ||||||
2.50%, 03/01/2036 | 2,132 | 1,889 | ||||||
2.50%, 07/01/2036 | 859 | 760 | ||||||
2.50%, 08/01/2036 | 129 | 114 | ||||||
2.50%, 03/01/2037 | 245 | 216 | ||||||
2.50%, 04/01/2037 | 500 | 442 | ||||||
2.50%, 05/01/2037 | 130 | 114 | ||||||
3.00%, 04/01/2027 | 447 | 431 | ||||||
3.00%, 11/01/2027 | 30 | 29 | ||||||
3.00%, 02/01/2028 | 201 | 193 | ||||||
3.00%, 10/01/2029 | 55 | 52 | ||||||
3.00%, 03/01/2030 | 38 | 35 | ||||||
3.00%, 05/01/2030 | 19 | 18 | ||||||
3.00%, 07/01/2030 | 19 | 18 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
3.00%, 09/01/2030 | 586 | 550 | ||||||
3.00%, 12/01/2030 | 27 | 25 | ||||||
3.00%, 04/01/2031 | 99 | 92 | ||||||
3.00%, 12/01/2031 | 218 | 203 | ||||||
3.00%, 07/01/2032 | 93 | 86 | ||||||
3.00%, 01/01/2033 | 64 | 59 | ||||||
3.00%, 07/01/2033 | 105 | 96 | ||||||
3.00%, 02/01/2034 | 1,267 | 1,172 | ||||||
3.00%, 09/01/2034 | 480 | 437 | ||||||
3.00%, 12/01/2035 | 512 | 474 | ||||||
3.50%, 12/01/2025 | 126 | 123 | ||||||
3.50%, 01/01/2026 | 384 | 375 | ||||||
3.50%, 07/01/2031 | 62 | 58 | ||||||
3.50%, 07/01/2034 | 390 | 372 | ||||||
3.50%, 03/01/2035 | 1,346 | 1,265 | ||||||
3.50%, 04/01/2035 | 849 | 788 | ||||||
3.50%, 05/01/2035 | 79 | 74 | ||||||
3.50%, 06/01/2035 | 277 | 260 | ||||||
4.00%, 03/01/2025 | 40 | 39 | ||||||
4.00%, 06/01/2026 | 59 | 57 | ||||||
4.00%, 08/01/2026 | 35 | 34 | ||||||
4.00%, 08/01/2027 | 37 | 36 | ||||||
4.00%, 12/01/2028 | 19 | 18 | ||||||
4.00%, 04/01/2033 | 511 | 486 | ||||||
4.00%, 10/01/2033 | 78 | 75 | ||||||
4.00%, 11/01/2033 | 208 | 202 | ||||||
4.00%, 12/01/2033 | 18 | 18 | ||||||
4.00%, 03/01/2035 | 898 | 867 | ||||||
FNMA Pool, Single Family, 20 years, | ||||||||
3.00%, 05/01/2042 | 731 | 620 | ||||||
3.00%, 06/01/2042 | 374 | 317 | ||||||
3.00%, 07/01/2042 | 1,379 | 1,167 | ||||||
3.50%, 03/01/2037 | 463 | 421 | ||||||
3.50%, 08/01/2038 | 105 | 94 | ||||||
3.50%, 04/01/2039 | 13 | 12 | ||||||
3.50%, 08/01/2039 | 159 | 141 | ||||||
4.50%, 06/01/2039 | 30 | 28 | ||||||
4.50%, 07/01/2043 | 1,012 | 939 | ||||||
FNMA Pool, Single Family, 30 years, | ||||||||
1.50%, 11/01/2050 | 1,333 | 960 | ||||||
1.50%, 06/01/2051 | 2,006 | 1,447 | ||||||
1.50%, 07/01/2051 | 1,225 | 883 | ||||||
1.50%, 04/01/2052 | 932 | 671 | ||||||
2.00%, 07/01/2050 | 1,423 | 1,092 | ||||||
2.00%, 09/01/2050 | 1,238 | 951 | ||||||
2.00%, 10/01/2050 | 945 | 725 | ||||||
2.00%, 12/01/2050 | 7,859 | 6,021 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
2.00%, 01/01/2051 | 4,014 | 3,070 | ||||||
2.00%, 02/01/2051 | 1,346 | 1,029 | ||||||
2.00%, 03/01/2051 | 2,017 | 1,543 | ||||||
2.00%, 04/01/2051 | 3,654 | 2,796 | ||||||
2.00%, 05/01/2051 | 1,808 | 1,383 | ||||||
2.00%, 06/01/2051 | 5,928 | 4,537 | ||||||
2.00%, 07/01/2051 | 3,088 | 2,361 | ||||||
2.00%, 10/01/2051 | 18,774 | 14,344 | ||||||
2.00%, 11/01/2051 | 2,252 | 1,724 | ||||||
2.00%, 12/01/2051 (jj) | 15,922 | 12,152 | ||||||
2.50%, 08/01/2046 | 5,203 | 4,214 | ||||||
2.50%, 08/01/2050 | 17 | 14 | ||||||
2.50%, 10/01/2050 | 11,478 | 9,193 | ||||||
2.50%, 12/01/2050 | 13,396 | 10,729 | ||||||
2.50%, 02/01/2051 | 1,889 | 1,511 | ||||||
2.50%, 03/01/2051 | 5,202 | 4,167 | ||||||
2.50%, 04/01/2051 | 6,424 | 5,115 | ||||||
2.50%, 07/01/2051 | 1,718 | 1,375 | ||||||
2.50%, 08/01/2051 | 3,800 | 3,044 | ||||||
2.50%, 09/01/2051 | 509 | 406 | ||||||
2.50%, 10/01/2051 | 918 | 732 | ||||||
2.50%, 11/01/2051 | 5,206 | 4,147 | ||||||
2.50%, 12/01/2051 | 13,882 | 11,059 | ||||||
2.50%, 01/01/2052 | 18,529 | 14,744 | ||||||
2.50%, 02/01/2052 | 1,066 | 849 | ||||||
2.50%, 03/01/2052 | 15,868 | 12,633 | ||||||
2.50%, 04/01/2052 | 4,705 | 3,757 | ||||||
2.50%, 05/01/2052 | 903 | 720 | ||||||
2.50%, 07/01/2052 | 494 | 393 | ||||||
3.00%, 08/01/2046 | 1,144 | 969 | ||||||
3.00%, 11/01/2046 | 3,056 | 2,616 | ||||||
3.00%, 02/01/2047 | 588 | 502 | ||||||
3.00%, 04/01/2048 | 5,997 | 5,134 | ||||||
3.00%, 01/01/2050 | 2,881 | 2,429 | ||||||
3.00%, 03/01/2050 | 1,511 | 1,271 | ||||||
3.00%, 06/01/2050 | 275 | 229 | ||||||
3.00%, 07/01/2050 | 12,183 | 10,145 | ||||||
3.00%, 08/01/2050 | 3,366 | 2,821 | ||||||
3.00%, 09/01/2050 | 307 | 256 | ||||||
3.00%, 11/01/2050 | 539 | 449 | ||||||
3.00%, 12/01/2050 | 3,936 | 3,306 | ||||||
3.00%, 01/01/2051 | 1,702 | 1,418 | ||||||
3.00%, 05/01/2051 | 10,822 | 8,972 | ||||||
3.00%, 06/01/2051 | 6,822 | 5,670 | ||||||
3.00%, 07/01/2051 | 1,886 | 1,572 | ||||||
3.00%, 08/01/2051 | 1,270 | 1,064 | ||||||
3.00%, 10/01/2051 | 3,208 | 2,663 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
3.00%, 11/01/2051 | 4,391 | 3,647 | ||||||
3.00%, 12/01/2051 | 2,614 | 2,166 | ||||||
3.00%, 01/01/2052 | 5,356 | 4,443 | ||||||
3.00%, 02/01/2052 | 982 | 817 | ||||||
3.00%, 03/01/2052 | 2,618 | 2,171 | ||||||
3.00%, 04/01/2052 | 7,344 | 6,089 | ||||||
3.00%, 05/01/2052 | 1,385 | 1,148 | ||||||
3.00%, 07/01/2052 | 1,449 | 1,202 | ||||||
3.50%, 07/01/2042 | 1 | 1 | ||||||
3.50%, 09/01/2042 | 159 | 141 | ||||||
3.50%, 05/01/2043 | 5 | 4 | ||||||
3.50%, 07/01/2043 | 6,917 | 6,145 | ||||||
3.50%, 08/01/2043 (gg) | 17,508 | 15,513 | ||||||
3.50%, 01/01/2044 | 214 | 190 | ||||||
3.50%, 10/01/2045 | 20 | 18 | ||||||
3.50%, 12/01/2045 | 1,940 | 1,705 | ||||||
3.50%, 07/01/2046 | 3,726 | 3,281 | ||||||
3.50%, 02/01/2047 | 3,999 | 3,548 | ||||||
3.50%, 07/01/2047 | 874 | 771 | ||||||
3.50%, 09/01/2047 | 62 | 54 | ||||||
3.50%, 10/01/2047 | 1,316 | 1,153 | ||||||
3.50%, 02/01/2048 | 2,061 | 1,807 | ||||||
3.50%, 03/01/2048 | 182 | 160 | ||||||
3.50%, 03/01/2049 | 335 | 293 | ||||||
3.50%, 06/01/2049 | 3,632 | 3,181 | ||||||
3.50%, 08/01/2049 | 568 | 498 | ||||||
3.50%, 04/01/2050 | 169 | 148 | ||||||
3.50%, 05/01/2050 | 4,123 | 3,601 | ||||||
3.50%, 07/01/2050 | 9,505 | 8,248 | ||||||
3.50%, 01/01/2051 | 718 | 624 | ||||||
3.50%, 03/01/2052 (gg) | 13,268 | 11,597 | ||||||
3.50%, 04/01/2052 | 311 | 268 | ||||||
3.50%, 05/01/2052 (gg) | 19,694 | 17,021 | ||||||
3.50%, 06/01/2052 | 8,285 | 7,147 | ||||||
3.50%, 07/01/2052 | 3,191 | 2,751 | ||||||
3.50%, 09/01/2052 | 68 | 58 | ||||||
4.00%, 04/01/2039 | 1,259 | 1,156 | ||||||
4.00%, 03/01/2042 | 562 | 518 | ||||||
4.00%, 04/01/2043 | 217 | 199 | ||||||
4.00%, 02/01/2045 | 233 | 214 | ||||||
4.00%, 09/01/2046 | 131 | 119 | ||||||
4.00%, 09/01/2047 | 39 | 35 | ||||||
4.00%, 10/01/2047 | 482 | 439 | ||||||
4.00%, 03/01/2048 | 74 | 67 | ||||||
4.00%, 04/01/2048 | 420 | 381 | ||||||
4.00%, 06/01/2048 | 28 | 26 | ||||||
4.00%, 08/01/2048 | 122 | 111 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
4.00%, 09/01/2048 | 286 | 260 | ||||||
4.00%, 03/01/2049 | 1,150 | 1,040 | ||||||
4.00%, 06/01/2049 | 1,143 | 1,040 | ||||||
4.00%, 11/01/2049 | 472 | 429 | ||||||
4.00%, 05/01/2050 | 926 | 836 | ||||||
4.00%, 03/01/2051 | 2,449 | 2,211 | ||||||
4.00%, 05/01/2051 | 240 | 217 | ||||||
4.00%, 04/01/2052 | 55 | 49 | ||||||
4.00%, 05/01/2052 | 1,850 | 1,651 | ||||||
4.00%, 06/01/2052 | 641 | 572 | ||||||
4.00%, 07/01/2052 | 675 | 602 | ||||||
4.00%, 08/01/2052 | 3,281 | 2,927 | ||||||
4.00%, 09/01/2052 | 306 | 274 | ||||||
4.00%, 05/01/2053 | 1,002 | 894 | ||||||
4.00%, 07/01/2053 | 479 | 430 | ||||||
4.50%, 05/01/2047 | 2 | 2 | ||||||
4.50%, 11/01/2047 (hh) | 602 | 564 | ||||||
4.50%, 01/01/2048 | 571 | 535 | ||||||
4.50%, 04/01/2048 | 29 | 27 | ||||||
4.50%, 08/01/2048 | 16 | 15 | ||||||
4.50%, 09/01/2048 | 417 | 391 | ||||||
4.50%, 02/01/2049 | 5,202 | 4,838 | ||||||
4.50%, 05/01/2049 | 455 | 427 | ||||||
4.50%, 08/01/2049 | 7 | 7 | ||||||
4.50%, 01/01/2050 | 152 | 144 | ||||||
4.50%, 04/01/2050 | 7,135 | 6,658 | ||||||
4.50%, 05/01/2052 | 21 | 19 | ||||||
4.50%, 06/01/2052 | 1,351 | 1,242 | ||||||
4.50%, 08/01/2052 | 387 | 356 | ||||||
4.50%, 09/01/2052 | 2,255 | 2,073 | ||||||
4.50%, 10/01/2052 | 948 | 871 | ||||||
4.50%, 11/01/2052 | 3,264 | 3,002 | ||||||
4.50%, 12/01/2052 | 479 | 440 | ||||||
4.50%, 07/01/2053 | 498 | 458 | ||||||
4.50%, 08/01/2053 | 280 | 258 | ||||||
5.00%, 09/01/2049 | 998 | 958 | ||||||
5.00%, 10/01/2052 | 561 | 531 | ||||||
5.00%, 11/01/2052 | 529 | 502 | ||||||
5.00%, 12/01/2052 | 576 | 547 | ||||||
5.00%, 01/01/2053 | 2,342 | 2,214 | ||||||
5.00%, 03/01/2053 | 364 | 347 | ||||||
5.00%, 04/01/2053 | 967 | 914 | ||||||
5.00%, 06/01/2053 | 294 | 280 | ||||||
5.50%, 09/01/2052 | 329 | 322 | ||||||
5.50%, 01/01/2053 | 470 | 460 | ||||||
5.50%, 02/01/2053 | 1,947 | 1,885 | ||||||
5.50%, 03/01/2053 | 1,482 | 1,440 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
5.50%, 04/01/2053 | 1,887 | 1,837 | ||||||
5.50%, 05/01/2053 | 1,833 | 1,778 | ||||||
5.50%, 06/01/2053 | 4,123 | 4,014 | ||||||
6.00%, 07/01/2053 | 1,363 | 1,346 | ||||||
6.00%, 08/01/2053 | 507 | 507 | ||||||
6.00%, 09/01/2053 | 1,401 | 1,397 | ||||||
GNMA I Pool, Single Family, 30 years, | ||||||||
3.00%, 10/15/2049 | 192 | 164 | ||||||
3.00%, 03/15/2050 | 16 | 13 | ||||||
GNMA II Pool, | ||||||||
2.50%, 12/20/2049 | 255 | 205 | ||||||
3.00%, 01/20/2047 (hh) | 1,262 | 1,079 | ||||||
3.00%, 02/20/2047 | 442 | 378 | ||||||
3.00%, 06/20/2047 | 511 | 438 | ||||||
3.00%, 07/20/2047 | 1,245 | 1,066 | ||||||
3.00%, 08/20/2047 | 548 | 470 | ||||||
3.00%, 09/20/2047 | 430 | 368 | ||||||
3.00%, 10/20/2047 | 417 | 357 | ||||||
3.00%, 12/20/2047 | 609 | 522 | ||||||
3.00%, 01/20/2048 | 607 | 520 | ||||||
3.00%, 08/20/2050 | 640 | 535 | ||||||
3.50%, 09/20/2042 | 2,410 | 2,132 | ||||||
3.50%, 08/20/2045 | 2,356 | 2,078 | ||||||
3.50%, 09/20/2045 | 739 | 651 | ||||||
3.50%, 12/20/2047 | 3,526 | 3,079 | ||||||
3.50%, 06/20/2048 | 47 | 41 | ||||||
3.50%, 07/20/2048 | 36 | 31 | ||||||
3.50%, 08/20/2049 | 96 | 84 | ||||||
3.50%, 11/20/2049 | 159 | 138 | ||||||
3.50%, 07/20/2050 | 151 | 131 | ||||||
4.00%, 11/20/2041 | 21 | 19 | ||||||
4.00%, 10/20/2050 | 336 | 298 | ||||||
4.50%, 08/20/2040 | 17 | 16 | ||||||
4.50%, 10/20/2040 | 38 | 35 | ||||||
ARM, (CMT Index 1 Year + 1.83%), 7.00%, 07/20/2072 (aa) (gg) | 19,402 | 20,061 | ||||||
ARM, (USD IBOR Consumer Cash Fallbacks 1 Month + 2.21%), 7.36%, 10/20/2071 (aa) (gg) | 9,725 | 9,970 | ||||||
ARM, (USD IBOR Consumer Cash Fallbacks 1 Month + 2.22%), 7.36%, 02/20/2071 (aa) | 3,121 | 3,201 | ||||||
GNMA II Pool, Single Family, 15 years, 2.00%, 12/20/2035 | 3,026 | 2,598 | ||||||
GNMA II Pool, Single Family, 30 years, | ||||||||
1.50%, 10/20/2051 | 303 | 231 | ||||||
2.00%, 07/20/2050 | 149 | 119 | ||||||
2.00%, 08/20/2050 | 4,851 | 3,864 | ||||||
2.00%, 11/20/2050 | 1,697 | 1,351 | ||||||
2.00%, 12/20/2050 | 2,821 | 2,244 | ||||||
2.00%, 02/20/2051 | 1,034 | 821 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
2.00%, 10/20/2051 | 5,570 | 4,417 | ||||||
2.00%, 12/20/2051 | 5,494 | 4,353 | ||||||
2.00%, 01/20/2052 | 508 | 403 | ||||||
2.00%, 03/20/2052 | 1,387 | 1,099 | ||||||
2.00%, 04/20/2052 | 3,239 | 2,568 | ||||||
2.50%, 01/20/2051 | 308 | 253 | ||||||
2.50%, 02/20/2051 | 4,401 | 3,607 | ||||||
2.50%, 05/20/2051 | 6,407 | 5,253 | ||||||
2.50%, 07/20/2051 | 8,203 | 6,719 | ||||||
2.50%, 09/20/2051 | 11,781 | 9,650 | ||||||
2.50%, 11/20/2051 | 3,504 | 2,872 | ||||||
2.50%, 12/20/2051 | 3,849 | 3,153 | ||||||
2.50%, 03/20/2052 | 922 | 755 | ||||||
2.50%, 04/20/2052 | 462 | 379 | ||||||
2.50%, 05/20/2052 | 820 | 671 | ||||||
2.50%, 07/20/2052 | 272 | 222 | ||||||
2.50%, 08/20/2052 | 452 | 371 | ||||||
3.00%, 01/20/2043 | 442 | 382 | ||||||
3.00%, 11/20/2043 | 91 | 79 | ||||||
3.00%, 03/20/2045 | 97 | 83 | ||||||
3.00%, 09/20/2046 | 2,095 | 1,810 | ||||||
3.00%, 11/20/2046 | 1,286 | 1,109 | ||||||
3.00%, 10/20/2047 | 421 | 362 | ||||||
3.00%, 04/20/2049 | 32 | 27 | ||||||
3.00%, 04/20/2050 | 7,606 | 6,496 | ||||||
3.00%, 07/20/2050 | 3,824 | 3,263 | ||||||
3.00%, 08/20/2050 | 6,099 | 5,200 | ||||||
3.00%, 08/20/2051 | 636 | 541 | ||||||
3.00%, 10/20/2051 | 2,880 | 2,452 | ||||||
3.00%, 11/20/2051 | 3,586 | 3,047 | ||||||
3.00%, 12/20/2051 | 876 | 745 | ||||||
3.00%, 01/20/2052 | 8,225 | 6,983 | ||||||
3.00%, 02/20/2052 | 353 | 300 | ||||||
3.00%, 03/20/2052 | 1,189 | 1,002 | ||||||
3.00%, 09/20/2052 | 470 | 399 | ||||||
3.00%, 02/20/2053 | 3,349 | 2,845 | ||||||
3.50%, 09/20/2045 | 2,612 | 2,328 | ||||||
3.50%, 09/20/2047 | 3,354 | 2,980 | ||||||
3.50%, 08/20/2048 | 171 | 152 | ||||||
3.50%, 11/20/2048 | 205 | 182 | ||||||
3.50%, 12/20/2048 | 5 | 5 | ||||||
3.50%, 03/20/2049 | 988 | 876 | ||||||
3.50%, 07/20/2049 | 964 | 853 | ||||||
3.50%, 09/20/2049 | 1,219 | 1,077 | ||||||
3.50%, 10/20/2049 | 515 | 455 | ||||||
3.50%, 12/20/2049 | 407 | 360 | ||||||
3.50%, 01/20/2050 | 608 | 541 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
3.50%, 04/20/2050 | 121 | 107 | ||||||
3.50%, 01/20/2052 | 4,315 | 3,786 | ||||||
3.50%, 02/20/2052 | 2,566 | 2,251 | ||||||
3.50%, 02/20/2053 | 3,365 | 2,963 | ||||||
4.00%, 07/20/2048 | 992 | 906 | ||||||
4.00%, 09/20/2048 | 1,688 | 1,543 | ||||||
4.00%, 11/20/2048 | 30 | 27 | ||||||
4.00%, 12/20/2048 | 850 | 776 | ||||||
4.00%, 05/20/2049 | 524 | 478 | ||||||
4.00%, 01/20/2050 | 943 | 860 | ||||||
4.00%, 03/20/2050 | 206 | 187 | ||||||
4.00%, 12/20/2050 | 2,441 | 2,226 | ||||||
4.00%, 07/20/2052 | 203 | 183 | ||||||
4.00%, 09/20/2052 | 1,830 | 1,650 | ||||||
4.00%, 12/20/2052 | 413 | 372 | ||||||
4.50%, 03/20/2047 | 430 | 403 | ||||||
4.50%, 06/20/2047 | 840 | 787 | ||||||
4.50%, 07/20/2047 | 1,475 | 1,388 | ||||||
4.50%, 10/20/2047 | 325 | 303 | ||||||
4.50%, 11/20/2047 | 1,006 | 942 | ||||||
4.50%, 05/20/2048 | 7,518 | 7,000 | ||||||
4.50%, 09/20/2048 | 634 | 578 | ||||||
4.50%, 11/20/2048 | 754 | 702 | ||||||
4.50%, 01/20/2049 | 1,826 | 1,713 | ||||||
4.50%, 03/20/2049 | 466 | 437 | ||||||
4.50%, 05/20/2049 | 236 | 212 | ||||||
4.50%, 10/20/2049 | 666 | 624 | ||||||
4.50%, 08/20/2052 | 1,616 | 1,495 | ||||||
5.00%, 12/20/2048 | 156 | 151 | ||||||
5.00%, 06/20/2049 | 340 | 327 | ||||||
5.00%, 07/20/2052 | 118 | 112 | ||||||
5.00%, 09/20/2052 | 896 | 851 | ||||||
5.00%, 12/20/2052 | 1,300 | 1,233 | ||||||
5.00%, 04/20/2053 | 1,201 | 1,139 | ||||||
5.50%, 12/20/2052 | 1,235 | 1,201 | ||||||
5.50%, 01/20/2053 | 152 | 147 | ||||||
5.50%, 03/20/2053 | 554 | 538 | ||||||
5.50%, 04/20/2053 | 1,420 | 1,379 | ||||||
5.50%, 06/20/2053 | 1,199 | 1,165 | ||||||
5.50%, 07/20/2053 | 425 | 414 | ||||||
GNMA, Single Family, 30 years, | ||||||||
TBA, 2.50%, 10/01/2053 (w) | 3,711 | 3,037 | ||||||
TBA, 3.00%, 10/01/2053 (w) | 3,687 | 3,129 | ||||||
TBA, 3.00%, 11/01/2053 (w) | 54,450 | 46,223 | ||||||
TBA, 3.50%, 10/01/2053 (w) | 6,220 | 5,456 | ||||||
TBA, 4.00%, 10/01/2053 (w) | 8,335 | 7,514 | ||||||
TBA, 4.00%, 11/01/2053 (w) | 4,000 | 3,608 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities continued |
||||||||
TBA, 4.50%, 10/01/2053 (w) | 6,325 | 5,845 | ||||||
TBA, 4.50%, 11/01/2053 (w) | 6,400 | 5,916 | ||||||
TBA, 5.00%, 10/01/2053 (w) | 14,280 | 13,542 | ||||||
TBA, 5.50%, 10/01/2053 (w) | 3,939 | 3,824 | ||||||
TBA, 6.00%, 10/01/2053 (w) | 3,500 | 3,470 | ||||||
|
|
|||||||
Total Mortgage-Backed Securities (Cost $1,536,347) |
1,375,355 | |||||||
|
|
|||||||
Municipal Bonds 0.1% (t) | ||||||||
Arizona 0.0% (g) | ||||||||
Salt River Project Agricultural Improvement & Power District, Series A, Rev., 4.84%, 01/01/2041 | 150 | 136 | ||||||
|
|
|||||||
California 0.1% | ||||||||
Bay Area Toll Authority, Build America Bonds, Series S1, Rev., 6.92%, 04/01/2040 | 115 | 125 | ||||||
California Health Facilities Financing Authority, Taxable, Social Bonds, | ||||||||
Rev., 4.19%, 06/01/2037 | 5 | 5 | ||||||
Rev., 4.35%, 06/01/2041 | 5 | 4 | ||||||
California State University, Taxable Systemwide, Series E, Rev., 2.90%, 11/01/2051 | 15 | 10 | ||||||
City of San Francisco CA Public Utilities Commission Water Revenue, Rev., 6.95%, 11/01/2050 | 70 | 79 | ||||||
Los Angeles Community College District, Taxable, GO, 2.11%, 08/01/2032 | 150 | 117 | ||||||
Los Angeles County Metropolitan Transportation Authority, Build America Bonds, Rev., 5.74%, 06/01/2039 | 50 | 50 | ||||||
Los Angeles Department of Water & Power, | ||||||||
Rev., 6.57%, 07/01/2045 | 50 | 55 | ||||||
Rev., 6.60%, 07/01/2050 | 30 | 34 | ||||||
Los Angeles Unified School District, Build America Bond, GO, 5.75%, 07/01/2034 | 25 | 25 | ||||||
Regents of the University of California Medical Center Pooled Revenue, Build America Bonds, Series F, Rev., 6.58%, 05/15/2049 | 200 | 216 | ||||||
Regents of the University of California Medical Center Pooled Revenue, Taxable, Series N, Rev., 3.26%, 05/15/2060 | 50 | 31 | ||||||
State of California, GO, 7.55%, 04/01/2039 | 150 | 177 | ||||||
State of California, Build America Bonds, | ||||||||
GO, 7.35%, 11/01/2039 | 100 | 114 | ||||||
GO, 7.50%, 04/01/2034 | 50 | 58 | ||||||
GO, 7.60%, 11/01/2040 | 50 | 59 | ||||||
State of California, Taxable Construction Bond Bidding Group, GO, 1.75%, 11/01/2030 | 350 | 279 | ||||||
University of California, Rev., 5.95%, 05/15/2045 | 35 | 36 | ||||||
University of California, Taxable, | ||||||||
Series AQ, Rev., 4.77%, 05/15/2115 | 20 | 16 | ||||||
Series BJ, Rev., 3.07%, 05/15/2051 | 5 | 3 | ||||||
|
|
|||||||
1,493 | ||||||||
|
|
|||||||
District of Columbia 0.0% (g) | ||||||||
District of Columbia, Water & Sewer Authority, Senior Lien, Green Bonds, Series A, Rev., 4.81%, 10/01/2114 | 895 | 762 | ||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Florida 0.0% (g) | ||||||||
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.26%, 07/01/2025 | 100 | 93 | ||||||
|
|
|||||||
Illinois 0.0% (g) | ||||||||
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, Series B, Rev., 6.90%, 12/01/2040 | 100 | 109 | ||||||
Sales Tax Securitization Corp., Taxable, Second Lien, Series B, Rev., 3.24%, 01/01/2042 | 40 | 29 | ||||||
State of Illinois, Taxable Pension, GO, 5.10%, 06/01/2033 | 350 | 332 | ||||||
|
|
|||||||
470 | ||||||||
|
|
|||||||
Louisiana 0.0% (g) | ||||||||
State of Louisiana Gasoline & Fuels Tax Revenue, Taxable, Series A, Rev., 2.95%, 05/01/2041 | 1,450 | 1,031 | ||||||
|
|
|||||||
Massachusetts 0.0% (g) | ||||||||
Commonwealth of Massachusetts, Series H, GO, 2.90%, 09/01/2049 | 15 | 10 | ||||||
Commonwealth of Massachusetts, Build America Bonds, GO, 4.91%, 05/01/2029 | 100 | 98 | ||||||
Commonwealth of Massachusetts, Taxable, Series D, GO, 2.66%, 09/01/2039 | 147 | 112 | ||||||
|
|
|||||||
220 | ||||||||
|
|
|||||||
Michigan 0.0% (g) | ||||||||
Michigan State University, Taxable, Series A, Rev., 4.17%, 08/15/2122 | 115 | 81 | ||||||
University of Michigan, Taxable, | ||||||||
Series B, Rev., 2.56%, 04/01/2050 | 25 | 15 | ||||||
Series C, Rev., 3.60%, 04/01/2047 | 14 | 11 | ||||||
|
|
|||||||
107 | ||||||||
|
|
|||||||
Missouri 0.0% (g) | ||||||||
Health & Educational Facilities Authority of the State of Missouri, Washington University, Series A, Rev., 3.23%, 05/15/2050 | 35 | 24 | ||||||
|
|
|||||||
New Jersey 0.0% (g) | ||||||||
New Jersey Transportation Trust Fund Authority, Build America Bonds, Series B, Rev., 6.56%, 12/15/2040 | 125 | 133 | ||||||
New Jersey Turnpike Authority, Build America Bonds, Series F, Rev., 7.41%, 01/01/2040 | 230 | 267 | ||||||
|
|
|||||||
400 | ||||||||
|
|
|||||||
New York 0.0% (g) | ||||||||
City of New York, Build America Bonds, GO, 5.52%, 10/01/2037 | 25 | 25 | ||||||
Metropolitan Transportation Authority, Taxable Green Bond, Series C2, Rev., 5.18%, 11/15/2049 | 100 | 86 | ||||||
New York City Municipal Water Finance Authority, Second General Resolution, Rev., 5.95%, 06/15/2042 | 200 | 204 | ||||||
New York City Water & Sewer System, Build America Bonds, Second General Resolution, Rev., 5.44%, 06/15/2043 | 30 | 29 | ||||||
Port Authority of New York & New Jersey, | ||||||||
Rev., 4.46%, 10/01/2062 | 50 | 41 | ||||||
Series 21, Rev., 3.29%, 08/01/2069 | 40 | 25 | ||||||
Port Authority of New York & New Jersey, Taxable Consolidated 160, Rev., 5.65%, 11/01/2040 | 250 | 248 | ||||||
|
|
|||||||
658 | ||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Ohio 0.0% (g) | ||||||||
Ohio State University (The), Taxable, Series A, Rev., 4.80%, 06/01/2111 | 130 | 108 | ||||||
|
|
|||||||
Oklahoma 0.0% (g) | ||||||||
Oklahoma Development Finance Authority, Rev., 4.62%, 06/01/2044 | 10 | 9 | ||||||
|
|
|||||||
Oregon 0.0% (g) | ||||||||
Oregon State University, Rev., BAM, 3.42%, 03/01/2060 | 10 | 6 | ||||||
State of Oregon Department of Transportation, Taxable Subordinated, Build America Bonds, Series A, Rev., 5.83%, 11/15/2034 | 50 | 52 | ||||||
|
|
|||||||
58 | ||||||||
|
|
|||||||
Pennsylvania 0.0% (g) | ||||||||
City of Philadelphia PA Water & Wastewater Revenue, Rev., 2.93%, 07/01/2045 | 10 | 7 | ||||||
|
|
|||||||
Texas 0.0% (g) | ||||||||
Board of Regents of the University of Texas System, Series C, Rev., 4.79%, 08/15/2046 | 110 | 103 | ||||||
City of San Antonio, Electric & Gas Systems Revenue, Build America Bonds, Rev., 5.99%, 02/01/2039 | 20 | 20 | ||||||
Dallas Area Rapid Transit, Build America Bonds, Rev., 5.02%, 12/01/2048 | 30 | 28 | ||||||
Dallas Area Rapid Transit, Taxable, Senior Lien, Series A, Rev., 2.61%, 12/01/2048 | 130 | 82 | ||||||
Dallas Fort Worth International Airport, Taxable, | ||||||||
Series A, Rev., 4.09%, 11/01/2051 | 425 | 337 | ||||||
Series A, Rev., 4.51%, 11/01/2051 | 100 | 84 | ||||||
Series C, Rev., 3.09%, 11/01/2040 | 100 | 74 | ||||||
North Texas Tollway Authority, Build America Bonds, Series B, Rev., 6.72%, 01/01/2049 | 65 | 73 | ||||||
State of Texas, Build America Bonds Taxable, GO, 5.52%, 04/01/2039 | 150 | 149 | ||||||
Texas Transportation Commission, Taxable Mobility Fund, GO, 2.47%, 10/01/2044 | 10 | 6 | ||||||
|
|
|||||||
956 | ||||||||
|
|
|||||||
Virginia 0.0% (g) | ||||||||
University of Virginia, Taxable, Series C, Rev., 4.18%, 09/01/2117 | 40 | 30 | ||||||
|
|
|||||||
Total Municipal Bonds (Cost $8,250) |
6,562 | |||||||
|
|
|||||||
U.S. Government Agency Securities 0.1% | ||||||||
Federal Farm Credit Banks Funding Corp., | ||||||||
1.57%, 09/23/2030 | 490 | 385 | ||||||
2.20%, 12/09/2031 | 505 | 402 | ||||||
5.48%, 06/27/2042 | 1,000 | 929 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Government Agency Securities continued | ||||||||
FHLBs, | ||||||||
0.50%, 04/14/2025 | 2,000 | 1,861 | ||||||
3.25%, 11/16/2028 | 650 | 608 | ||||||
FHLMC, | ||||||||
Zero Coupon, 12/14/2029 | 710 | 526 | ||||||
0.38%, 07/21/2025 | 1,000 | 919 | ||||||
1.22%, 08/19/2030 | 215 | 166 | ||||||
1.50%, 02/12/2025 | 107 | 102 | ||||||
6.25%, 07/15/2032 | 199 | 220 | ||||||
6.75%, 03/15/2031 | 400 | 448 | ||||||
FHLMC Coupon STRIPs, Zero Coupon, 07/15/2031 | 130 | 88 | ||||||
FHLMC STRIPs, Zero Coupon, 03/15/2031 | 542 | 374 | ||||||
FNMA, | ||||||||
Zero Coupon, 11/15/2030 | 445 | 312 | ||||||
0.88%, 08/05/2030 | 810 | 626 | ||||||
5.38%, 12/07/2028 | GBP | 460 | 571 | |||||
Resolution Funding Corp. Interest STRIP, | ||||||||
Zero Coupon, 07/15/2027 | 53 | 44 | ||||||
Zero Coupon, 07/15/2028 | 143 | 113 | ||||||
Zero Coupon, 10/15/2028 | 745 | 589 | ||||||
Zero Coupon, 10/15/2029 | 205 | 154 | ||||||
Zero Coupon, 01/15/2030 | 1,230 | 903 | ||||||
Zero Coupon, 04/15/2030 | 2,260 | 1,623 | ||||||
Resolution Funding Corp. Principal STRIP, | ||||||||
Zero Coupon, 01/15/2030 | 1,050 | 771 | ||||||
Zero Coupon, 04/15/2030 | 145 | 104 | ||||||
Tennessee Valley Authority, 4.63%, 06/07/2043 | GBP | 200 | 215 | |||||
|
|
|||||||
Total U.S. Government Agency Securities (Cost $14,859) |
13,053 | |||||||
|
|
|||||||
U.S. Treasury Obligations 11.1% | ||||||||
U.S. Treasury Bonds, | ||||||||
1.13%, 05/15/2040 | 34,782 | 19,943 | ||||||
1.13%, 08/15/2040 | 45,525 | 25,848 | ||||||
1.25%, 05/15/2050 | 7,480 | 3,522 | ||||||
1.38%, 11/15/2040 | 63,370 | 37,458 | ||||||
1.38%, 08/15/2050 | 1,626 | 792 | ||||||
1.63%, 11/15/2050 | 1,600 | 837 | ||||||
1.75%, 08/15/2041 | 94,450 | 58,773 | ||||||
1.88%, 02/15/2041 | 78,400 | 50,534 | ||||||
1.88%, 02/15/2051 | 1,100 | 615 | ||||||
1.88%, 11/15/2051 | 2,030 | 1,130 | ||||||
2.00%, 11/15/2041 | 96,700 | 62,700 | ||||||
2.00%, 02/15/2050 | 2,169 | 1,263 | ||||||
2.00%, 08/15/2051 | 2,450 | 1,412 | ||||||
2.25%, 05/15/2041 | 81,400 | 55,813 | ||||||
2.25%, 08/15/2046 | 940 | 595 | ||||||
2.25%, 08/15/2049 | 1,200 | 746 | ||||||
2.25%, 02/15/2052 | 700 | 429 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations continued | ||||||||
2.38%, 02/15/2042 | 78,850 | 54,459 | ||||||
2.38%, 11/15/2049 | 700 | 447 | ||||||
2.38%, 05/15/2051 | 1,800 | 1,140 | ||||||
2.50%, 02/15/2045 | 1,420 | 963 | ||||||
2.50%, 02/15/2046 | 700 | 469 | ||||||
2.50%, 05/15/2046 | 970 | 649 | ||||||
2.75%, 08/15/2042 | 14,900 | 10,911 | ||||||
2.75%, 11/15/2042 | 15,750 | 11,491 | ||||||
2.75%, 08/15/2047 | 700 | 488 | ||||||
2.75%, 11/15/2047 | 1,575 | 1,097 | ||||||
2.88%, 05/15/2043 | 23,920 | 17,710 | ||||||
2.88%, 08/15/2045 | 1,435 | 1,039 | ||||||
2.88%, 11/15/2046 | 500 | 359 | ||||||
2.88%, 05/15/2049 | 1,500 | 1,068 | ||||||
2.88%, 05/15/2052 | 940 | 666 | ||||||
3.00%, 05/15/2042 | 11,500 | 8,797 | ||||||
3.00%, 11/15/2044 | 900 | 671 | ||||||
3.00%, 05/15/2045 | 1,730 | 1,284 | ||||||
3.00%, 11/15/2045 | 229 | 169 | ||||||
3.00%, 02/15/2047 | 338 | 248 | ||||||
3.00%, 05/15/2047 | 500 | 366 | ||||||
3.00%, 02/15/2048 | 250 | 183 | ||||||
3.00%, 08/15/2048 | 620 | 453 | ||||||
3.00%, 02/15/2049 | 3,045 | 2,222 | ||||||
3.00%, 08/15/2052 | 850 | 619 | ||||||
3.13%, 11/15/2041 | 12,500 | 9,822 | ||||||
3.13%, 02/15/2042 | 12,650 | 9,909 | ||||||
3.13%, 02/15/2043 | 16,060 | 12,425 | ||||||
3.13%, 08/15/2044 | 350 | 267 | ||||||
3.13%, 05/15/2048 | 320 | 239 | ||||||
3.25%, 05/15/2042 | 57,100 | 45,468 | ||||||
3.38%, 08/15/2042 | 46,750 | 37,855 | ||||||
3.38%, 11/15/2048 | 800 | 627 | ||||||
3.50%, 02/15/2039 | 2,200 | 1,899 | ||||||
3.63%, 08/15/2043 | 14,590 | 12,166 | ||||||
3.63%, 02/15/2044 | 1,500 | 1,247 | ||||||
3.63%, 02/15/2053 | 1,070 | 884 | ||||||
3.63%, 05/15/2053 (ff) | 4,710 | 3,895 | ||||||
3.75%, 08/15/2041 | 9,300 | 8,044 | ||||||
3.75%, 11/15/2043 | 3,115 | 2,642 | ||||||
3.88%, 08/15/2040 | 24,100 | 21,383 | ||||||
3.88%, 02/15/2043 | 33,930 | 29,503 | ||||||
3.88%, 05/15/2043 | 38,385 | 33,347 | ||||||
4.00%, 11/15/2042 | 35,930 | 31,870 | ||||||
4.00%, 11/15/2052 | 1,075 | 952 | ||||||
4.13%, 08/15/2053 | 668 | 606 | ||||||
4.25%, 05/15/2039 | 4,239 | 3,992 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations continued | ||||||||
4.25%, 11/15/2040 | 19,769 | 18,373 | ||||||
4.38%, 02/15/2038 | 4,000 | 3,873 | ||||||
4.38%, 11/15/2039 | 14,900 | 14,169 | ||||||
4.38%, 05/15/2040 | 19,500 | 18,482 | ||||||
4.38%, 05/15/2041 | 9,810 | 9,244 | ||||||
4.38%, 08/15/2043 (jj) | 26,500 | 24,707 | ||||||
4.50%, 02/15/2036 | 6,305 | 6,285 | ||||||
4.50%, 05/15/2038 | 8,090 | 7,907 | ||||||
4.50%, 08/15/2039 | 5,900 | 5,709 | ||||||
4.63%, 02/15/2040 | 17,900 | 17,520 | ||||||
4.75%, 02/15/2037 | 1,500 | 1,525 | ||||||
4.75%, 02/15/2041 | 14,400 | 14,232 | ||||||
5.00%, 05/15/2037 | 1,500 | 1,556 | ||||||
5.25%, 02/15/2029 | 365 | 375 | ||||||
U.S. Treasury Inflation Indexed Note, 0.13%, 04/15/2025 | 47 | 45 | ||||||
U.S. Treasury Notes, | ||||||||
0.25%, 05/31/2025 | 1,000 | 922 | ||||||
0.25%, 06/30/2025 | 1,500 | 1,379 | ||||||
0.25%, 07/31/2025 | 490 | 449 | ||||||
0.25%, 08/31/2025 | 500 | 456 | ||||||
0.25%, 09/30/2025 | 500 | 455 | ||||||
0.38%, 04/30/2025 | 1,195 | 1,108 | ||||||
0.38%, 11/30/2025 | 500 | 453 | ||||||
0.38%, 12/31/2025 | 900 | 814 | ||||||
0.38%, 01/31/2026 | 600 | 540 | ||||||
0.38%, 07/31/2027 | 315 | 268 | ||||||
0.38%, 09/30/2027 | 500 | 422 | ||||||
0.50%, 03/31/2025 | 500 | 466 | ||||||
0.50%, 04/30/2027 | 532 | 459 | ||||||
0.50%, 05/31/2027 | 500 | 430 | ||||||
0.50%, 08/31/2027 | 400 | 341 | ||||||
0.50%, 10/31/2027 | 700 | 592 | ||||||
0.63%, 07/31/2026 | 2,350 | 2,092 | ||||||
0.63%, 03/31/2027 | 1,000 | 869 | ||||||
0.63%, 11/30/2027 | 200 | 170 | ||||||
0.63%, 12/31/2027 | 500 | 423 | ||||||
0.63%, 05/15/2030 | 4,243 | 3,284 | ||||||
0.63%, 08/15/2030 | 2,755 | 2,115 | ||||||
0.75%, 03/31/2026 | 1,500 | 1,356 | ||||||
0.75%, 04/30/2026 | 1,500 | 1,351 | ||||||
0.75%, 05/31/2026 | 1,900 | 1,706 | ||||||
0.75%, 08/31/2026 | 2,000 | 1,781 | ||||||
0.75%, 01/31/2028 | 1,000 | 848 | ||||||
0.88%, 06/30/2026 | 1,000 | 900 | ||||||
0.88%, 09/30/2026 | 2,300 | 2,053 | ||||||
0.88%, 11/15/2030 | 2,200 | 1,712 | ||||||
1.00%, 12/15/2024 | 500 | 475 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations continued | ||||||||
1.00%, 07/31/2028 | 1,095 | 924 | ||||||
1.13%, 10/31/2026 | 500 | 448 | ||||||
1.13%, 02/28/2027 | 1,000 | 888 | ||||||
1.13%, 02/29/2028 | 1,300 | 1,119 | ||||||
1.13%, 08/31/2028 | 3,500 | 2,965 | ||||||
1.13%, 02/15/2031 | 2,600 | 2,051 | ||||||
1.25%, 11/30/2026 | 1,500 | 1,346 | ||||||
1.25%, 12/31/2026 | 1,700 | 1,523 | ||||||
1.25%, 03/31/2028 | 500 | 432 | ||||||
1.25%, 04/30/2028 | 2,100 | 1,808 | ||||||
1.25%, 05/31/2028 | 1,750 | 1,503 | ||||||
1.25%, 06/30/2028 | 390 | 334 | ||||||
1.25%, 09/30/2028 | 1,800 | 1,530 | ||||||
1.25%, 08/15/2031 | 1,430 | 1,118 | ||||||
1.38%, 08/31/2026 | 110 | 100 | ||||||
1.38%, 10/31/2028 | 4,300 | 3,670 | ||||||
1.38%, 12/31/2028 | 2,500 | 2,124 | ||||||
1.38%, 11/15/2031 | 1,700 | 1,332 | ||||||
1.50%, 10/31/2024 | 400 | 384 | ||||||
1.50%, 11/30/2024 | 300 | 287 | ||||||
1.50%, 08/15/2026 | 1,000 | 911 | ||||||
1.50%, 01/31/2027 | 500 | 450 | ||||||
1.50%, 11/30/2028 | 500 | 429 | ||||||
1.50%, 02/15/2030 | 1,149 | 953 | ||||||
1.63%, 02/15/2026 | 500 | 463 | ||||||
1.63%, 05/15/2026 | 1,500 | 1,381 | ||||||
1.63%, 10/31/2026 | 600 | 546 | ||||||
1.63%, 08/15/2029 | 500 | 424 | ||||||
1.63%, 05/15/2031 | 1,970 | 1,599 | ||||||
1.75%, 03/15/2025 | 4,800 | 4,565 | ||||||
1.75%, 12/31/2026 | 840 | 765 | ||||||
1.75%, 01/31/2029 | 500 | 432 | ||||||
1.75%, 11/15/2029 | 500 | 425 | ||||||
1.88%, 02/28/2027 | 1,500 | 1,365 | ||||||
1.88%, 02/28/2029 | 500 | 434 | ||||||
1.88%, 02/15/2032 | 1,550 | 1,259 | ||||||
2.00%, 08/15/2025 | 1,000 | 945 | ||||||
2.00%, 11/15/2026 | 700 | 644 | ||||||
2.13%, 05/15/2025 | 1,000 | 952 | ||||||
2.13%, 05/31/2026 | 200 | 186 | ||||||
2.25%, 11/15/2024 | 700 | 676 | ||||||
2.25%, 11/15/2025 | 538 | 508 | ||||||
2.25%, 03/31/2026 | 400 | 375 | ||||||
2.25%, 02/15/2027 | 1,200 | 1,108 | ||||||
2.25%, 08/15/2027 | 200 | 183 | ||||||
2.25%, 11/15/2027 | 250 | 227 | ||||||
2.38%, 04/30/2026 | 500 | 470 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations continued | ||||||||
2.38%, 05/15/2027 | 1,000 | 922 | ||||||
2.38%, 03/31/2029 | 1,100 | 979 | ||||||
2.38%, 05/15/2029 | 600 | 533 | ||||||
2.50%, 01/31/2025 | 500 | 482 | ||||||
2.50%, 03/31/2027 | 1,000 | 929 | ||||||
2.63%, 02/15/2029 | 500 | 452 | ||||||
2.63%, 07/31/2029 | 500 | 449 | ||||||
2.75%, 02/28/2025 | 1,000 | 966 | ||||||
2.75%, 06/30/2025 | 800 | 768 | ||||||
2.75%, 04/30/2027 | 1,500 | 1,403 | ||||||
2.75%, 07/31/2027 | 900 | 838 | ||||||
2.75%, 02/15/2028 | 1,980 | 1,831 | ||||||
2.75%, 05/31/2029 | 1,000 | 906 | ||||||
2.75%, 08/15/2032 | 1,600 | 1,386 | ||||||
2.88%, 04/30/2025 | 900 | 868 | ||||||
2.88%, 06/15/2025 | 2,500 | 2,407 | ||||||
2.88%, 07/31/2025 | 1,000 | 961 | ||||||
2.88%, 11/30/2025 | 1,300 | 1,244 | ||||||
2.88%, 05/15/2028 | 1,500 | 1,390 | ||||||
2.88%, 08/15/2028 | 1,800 | 1,662 | ||||||
2.88%, 04/30/2029 | 1,000 | 913 | ||||||
2.88%, 05/15/2032 | 3,085 | 2,708 | ||||||
3.00%, 07/15/2025 | 5,000 | 4,819 | ||||||
3.00%, 09/30/2025 | 60 | 58 | ||||||
3.00%, 10/31/2025 | 1,185 | 1,138 | ||||||
3.13%, 08/15/2025 | 1,000 | 965 | ||||||
3.13%, 08/31/2027 | 1,000 | 944 | ||||||
3.13%, 11/15/2028 | 4,990 | 4,647 | ||||||
3.13%, 08/31/2029 | 300 | 277 | ||||||
3.25%, 06/30/2027 | 500 | 475 | ||||||
3.25%, 06/30/2029 | 1,000 | 929 | ||||||
3.38%, 05/15/2033 | 1,900 | 1,724 | ||||||
3.50%, 09/15/2025 | 700 | 680 | ||||||
3.50%, 01/31/2028 | 500 | 477 | ||||||
3.50%, 04/30/2028 | 500 | 477 | ||||||
3.50%, 01/31/2030 | 600 | 562 | ||||||
3.50%, 04/30/2030 | 750 | 702 | ||||||
3.50%, 02/15/2033 | 14,670 | 13,462 | ||||||
3.63%, 05/15/2026 | 1,500 | 1,454 | ||||||
3.63%, 03/31/2028 | 700 | 671 | ||||||
3.63%, 05/31/2028 | 2,905 | 2,785 | ||||||
3.63%, 03/31/2030 | 550 | 519 | ||||||
3.75%, 04/15/2026 | 900 | 875 | ||||||
3.75%, 05/31/2030 | 1,140 | 1,083 | ||||||
3.75%, 06/30/2030 | 800 | 759 | ||||||
3.88%, 04/30/2025 | 2,220 | 2,174 | ||||||
3.88%, 01/15/2026 | 1,000 | 977 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations continued | ||||||||
3.88%, 11/30/2027 | 985 | 955 | ||||||
3.88%, 12/31/2027 | 850 | 824 | ||||||
3.88%, 09/30/2029 | 300 | 288 | ||||||
3.88%, 11/30/2029 | 990 | 949 | ||||||
3.88%, 12/31/2029 | 1,210 | 1,159 | ||||||
3.88%, 08/15/2033 | 1,300 | 1,229 | ||||||
4.00%, 12/15/2025 | 1,700 | 1,665 | ||||||
4.00%, 02/15/2026 | 1,500 | 1,468 | ||||||
4.00%, 02/29/2028 | 900 | 877 | ||||||
4.00%, 06/30/2028 | 900 | 876 | ||||||
4.00%, 10/31/2029 | 1,000 | 966 | ||||||
4.00%, 02/28/2030 | 700 | 675 | ||||||
4.00%, 07/31/2030 | 1,775 | 1,710 | ||||||
4.13%, 01/31/2025 | 800 | 788 | ||||||
4.13%, 06/15/2026 | 2,000 | 1,963 | ||||||
4.13%, 10/31/2027 | 700 | 685 | ||||||
4.13%, 07/31/2028 | 1,675 | 1,639 | ||||||
4.13%, 08/31/2030 | 935 | 908 | ||||||
4.13%, 11/15/2032 | 7,840 | 7,563 | ||||||
4.25%, 05/31/2025 | 9,715 | 9,571 | ||||||
4.25%, 10/15/2025 | 1,450 | 1,428 | ||||||
4.38%, 08/15/2026 | 1,500 | 1,481 | ||||||
4.50%, 11/30/2024 | 1,500 | 1,485 | ||||||
4.50%, 11/15/2025 | 1,000 | 990 | ||||||
4.50%, 07/15/2026 | 1,500 | 1,486 | ||||||
4.63%, 02/28/2025 | 1,000 | 991 | ||||||
4.63%, 06/30/2025 | 1,840 | 1,824 | ||||||
4.63%, 03/15/2026 | 2,000 | 1,986 | ||||||
4.63%, 09/15/2026 | 1,000 | 995 | ||||||
4.63%, 09/30/2030 (w) | 500 | 500 | ||||||
4.75%, 07/31/2025 | 1,700 | 1,689 | ||||||
5.00%, 08/31/2025 | 10,900 | 10,879 | ||||||
U.S. Treasury STRIP Coupon Bonds, | ||||||||
Zero Coupon, 05/15/2024 | 800 | 774 | ||||||
Zero Coupon, 05/15/2026 | 5,000 | 4,404 | ||||||
Zero Coupon, 11/15/2026 | 5,000 | 4,312 | ||||||
Zero Coupon, 11/15/2028 (ee) (ff) | 12,000 | 9,467 | ||||||
Zero Coupon, 11/15/2038 (ee) | 6,250 | 2,939 | ||||||
Zero Coupon, 11/15/2041 | 200 | 79 | ||||||
Zero Coupon, 08/15/2045 | 600 | 198 | ||||||
|
|
|||||||
Total U.S. Treasury Obligations (Cost $1,223,805) |
1,085,967 | |||||||
|
|
|||||||
Short-Term Investments 1.7% | ||||||||
Repurchase Agreement 0.1% | ||||||||
Toronto-Dominion Securities, 5.36%, dated 09/29/2023 due 10/02/2023, repurchase price $6,503 collateralized by U.S. Treasury Securities, 2.00% - 3.38%, due 11/15/2041 - 08/15/2042, with a value of $6,670. | 6,500 | 6,500 | ||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Time Deposits 1.5% | ||||||||
Australia & New Zealand Banking Group Ltd., | ||||||||
2.51%, 10/02/2023 | AUD | 151 | 97 | |||||
4.68%, 10/02/2023 | 6,603 | 6,603 | ||||||
Brown Brothers Harriman & Co., | ||||||||
2.50%, 10/02/2023 | DKK | 111 | 16 | |||||
2.60%, 10/02/2023 | SGD | 29 | 22 | |||||
2.81%, 10/02/2023 | SEK | 4,594 | 420 | |||||
3.03%, 10/02/2023 | NOK | 1,026 | 96 | |||||
3.50%, 10/02/2023 | NZD | 30 | 18 | |||||
4.13%, 10/03/2023 | HKD | 4 | | (h) | ||||
Citibank NA, | ||||||||
2.81%, 10/02/2023 | EUR | 10,251 | 10,838 | |||||
4.68%, 10/02/2023 | 7,841 | 7,841 | ||||||
Royal Bank of Canada, 3.80%, 10/03/2023 | CAD | 4 | 3 | |||||
Skandinaviska Enskilda Banken AB, | ||||||||
0.55%, 10/02/2023 | CHF | 574 | 627 | |||||
2.81%, 10/02/2023 | EUR | 16,541 | 17,488 | |||||
4.17%, 10/02/2023 | GBP | 3,658 | 4,462 | |||||
4.68%, 10/02/2023 | 2,235 | 2,235 | ||||||
Sumitomo Mitsui Banking Corp., | ||||||||
(0.38%), 10/02/2023 | JPY | 30,179 | 202 | |||||
4.68%, 10/02/2023 | 91,519 | 91,519 | ||||||
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 10/02/2023 | 74 | 74 | ||||||
|
|
|||||||
Total Time Deposits | 142,561 | |||||||
|
|
|||||||
U.S. Government Agency Security 0.0% (g) | ||||||||
FHLB DNs, Zero Coupon, 10/11/2023 | 687 | 686 | ||||||
|
|
|||||||
U.S. Treasury Obligations 0.1% | ||||||||
U.S. Treasury Bills, | ||||||||
Zero Coupon, 10/03/2023 | 750 | 750 | ||||||
Zero Coupon, 10/05/2023 | 887 | 887 | ||||||
Zero Coupon, 11/02/2023 | 500 | 498 | ||||||
Zero Coupon, 11/09/2023 (hh) (ii) | 3,519 | 3,499 | ||||||
Zero Coupon, 11/16/2023 (hh) | 2,048 | 2,034 | ||||||
Zero Coupon, 11/24/2023 | 3,000 | 2,977 | ||||||
Zero Coupon, 11/30/2023 (hh) | 238 | 236 | ||||||
Zero Coupon, 12/07/2023 (hh) | 800 | 792 | ||||||
|
|
|||||||
Total U.S. Treasury Obligations | 11,673 | |||||||
|
|
|||||||
Total Short-Term Investments (Cost $161,418) |
161,420 | |||||||
|
|
|||||||
Total Investments, Before Short Positions 104.6% (Cost - $11,160,222)* |
10,210,390 | |||||||
Liabilities in Excess of Other Assets (4.6)% | (447,971 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% | $ | 9,762,419 | ||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Short Positions 1.7% | ||||||||
Mortgage-Backed Securities 1.7% | ||||||||
FHLMC Pool, Single Family, 15 years, | ||||||||
3.50%, 12/01/2035 | 51 | 47 | ||||||
3.50%, 02/01/2036 | 176 | 163 | ||||||
FNMA or FHLMC, Single Family, 15 years, | ||||||||
TBA, 2.00%, 10/01/2052 (w) | 200 | 172 | ||||||
TBA, 3.00%, 10/01/2038 (w) | 4,700 | 4,255 | ||||||
TBA, 3.50%, 10/01/2053 (w) | 100 | 93 | ||||||
TBA, 4.00%, 10/01/2053 (w) | 2,300 | 2,173 | ||||||
FNMA or FHLMC, Single Family, 30 years, | ||||||||
TBA, 3.00%, 10/01/2053 (w) | 6,700 | 5,546 | ||||||
TBA, 3.00%, 11/01/2053 (w) | 90,800 | 75,279 | ||||||
TBA, 3.50%, 10/01/2053 (w) | 5,000 | 4,305 | ||||||
TBA, 3.50%, 11/01/2053 (w) | 47,465 | 40,909 | ||||||
TBA, 4.00%, 10/01/2053 (w) | 2,500 | 2,228 | ||||||
TBA, 4.50%, 10/01/2053 (w) | 13,900 | 12,770 | ||||||
FNMA Pool, Single Family, 15 years, | ||||||||
3.50%, 06/01/2035 | 277 | 260 | ||||||
3.50%, 04/01/2035 | 849 | 788 | ||||||
GNMA II Pool, Single Family, 30 years, 4.00%, 12/20/2050 | 2,441 | 2,226 | ||||||
GNMA, Single Family, 30 years, | ||||||||
TBA, 2.50%, 10/01/2053 (w) | 11,800 | 9,658 | ||||||
TBA, 4.50%, 10/01/2053 (w) | 3,600 | 3,327 | ||||||
|
|
|||||||
Total Mortgage-Backed Securities (Proceeds $169,721) |
164,199 | |||||||
|
|
|||||||
Total Securities Sold Short 1.7% (Proceeds $169,721)* |
164,199 | |||||||
|
|
Percentages indicated are based on net assets.
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Futures contracts outstanding as of September 30, 2023:
Exchange Traded
DESCRIPTION |
NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
Canadian Government 10 Year Bond |
3 | 12/2023 | CAD | 262 | (8 | ) | ||||||||||||||
Euro BOBL |
2 | 12/2023 | EUR | 245 | | (h) | ||||||||||||||
Euro Bund |
66 | 12/2023 | EUR | 9,104 | (128 | ) | ||||||||||||||
Euro Buxl |
41 | 12/2023 | EUR | 5,705 | (401 | ) | ||||||||||||||
Euro Schatz |
122 | 12/2023 | EUR | 13,575 | (33 | ) | ||||||||||||||
Long Gilt |
155 | 12/2023 | GBP | 17,957 | (149 | ) | ||||||||||||||
SOFR 3 Month |
212 | 09/2023 | USD | 50,300 | (146 | ) | ||||||||||||||
SOFR 3 Month |
1,275 | 03/2024 | USD | 302,765 | (1,148 | ) | ||||||||||||||
U.S. Treasury 10 Year Note |
80 | 12/2023 | USD | 8,794 | (149 | ) | ||||||||||||||
U.S. Treasury 2 Year Note |
6 | 12/2023 | USD | 1,220 | (4 | ) | ||||||||||||||
U.S. Treasury 5 Year Note |
93 | 12/2023 | USD | 9,872 | (74 | ) | ||||||||||||||
U.S. Treasury Long Bond |
195 | 12/2023 | USD | 23,448 | (1,260 | ) | ||||||||||||||
U.S. Treasury Ultra Bond |
85 | 12/2023 | USD | 10,705 | (617 | ) | ||||||||||||||
U.S. Ultra Treasury 10 Year Note |
24 | 12/2023 | USD | 2,683 | (5 | ) | ||||||||||||||
|
|
|||||||||||||||||||
(4,122 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
||||||||||||||||||||
Euro BOBL |
(105 | ) | 12/2023 | EUR | (13,016 | ) | 167 | |||||||||||||
Euro Bund |
(242 | ) | 12/2023 | EUR | (33,283 | ) | 370 | |||||||||||||
SOFR 3 Month |
(106 | ) | 12/2023 | USD | (25,233 | ) | 178 | |||||||||||||
SOFR 3 Month |
(691 | ) | 06/2024 | USD | (164,795 | ) | 1,002 | |||||||||||||
SOFR 3 Month |
(690 | ) | 09/2024 | USD | (164,026 | ) | (4 | ) | ||||||||||||
U.S. Treasury 10 Year Note |
(260 | ) | 12/2023 | USD | (28,580 | ) | 484 | |||||||||||||
U.S. Treasury 2 Year Note |
(96 | ) | 12/2023 | USD | (19,472 | ) | 12 | |||||||||||||
U.S. Treasury 5 Year Note |
(38 | ) | 12/2023 | USD | (4,029 | ) | 25 | |||||||||||||
U.S. Treasury Long Bond |
(17 | ) | 12/2023 | USD | (2,045 | ) | 111 | |||||||||||||
U.S. Treasury Ultra Bond |
(12 | ) | 12/2023 | USD | (1,538 | ) | 114 | |||||||||||||
U.S. Ultra Treasury 10 Year Note |
(33 | ) | 12/2023 | USD | (3,792 | ) | 110 | |||||||||||||
|
|
|||||||||||||||||||
2,569 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation (depreciation) |
(1,553 | ) | ||||||||||||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Forward foreign currency exchange contracts outstanding as of September 30, 2023:
CURRENCY PURCHASED |
CURRENCY SOLD | COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||
USD |
91 | AUD | 140 | Deutsche Bank AG | 10/03/2023 | 1 | ||||||||||||
USD |
13 | AUD | 20 | Royal Bank of Canada | 10/03/2023 | | (h) | |||||||||||
USD |
2,300 | AUD | 3,540 | Royal Bank of Canada | 10/03/2023 | 24 | ||||||||||||
USD |
3,158 | CAD | 4,254 | Morgan Stanley & Co. | 10/03/2023 | 25 | ||||||||||||
USD |
44 | CHF | 40 | Goldman Sachs International | 10/03/2023 | | (h) | |||||||||||
EUR |
129 | CHF | 125 | Goldman Sachs International | 10/03/2023 | | (h) | |||||||||||
USD |
17 | CHF | 15 | Morgan Stanley & Co. | 10/03/2023 | 1 | ||||||||||||
USD |
11,403 | CHF | 10,022 | UBS AG London | 10/03/2023 | 455 | ||||||||||||
USD |
335 | CHF | 295 | UBS AG London | 10/03/2023 | 13 | ||||||||||||
USD |
3,840 | CHF | 3,375 | UBS AG London | 10/03/2023 | 153 | ||||||||||||
USD |
112 | CZK | 2,570 | Citibank, NA | 10/03/2023 | 1 | ||||||||||||
USD |
450 | CZK | 10,280 | Morgan Stanley & Co. | 10/03/2023 | 4 | ||||||||||||
USD |
9,273 | CZK | 205,814 | UBS AG London | 10/03/2023 | 353 | ||||||||||||
USD |
1,088 | DKK | 7,437 | Bank of America, NA | 10/03/2023 | 34 | ||||||||||||
DKK |
7,556 | USD | 1,070 | Bank of America, NA | 10/03/2023 | 1 | ||||||||||||
USD |
1,184 | DKK | 8,101 | BNP Paribas | 10/03/2023 | 36 | ||||||||||||
USD |
6,897 | DKK | 47,197 | Morgan Stanley & Co. | 10/03/2023 | 207 | ||||||||||||
USD |
1,062 | DKK | 7,270 | Morgan Stanley & Co. | 10/03/2023 | 32 | ||||||||||||
USD |
6 | DKK | 40 | Morgan Stanley & Co. | 10/03/2023 | | (h) | |||||||||||
USD |
875,854 | EUR | 804,663 | Bank of America, NA | 10/03/2023 | 25,124 | ||||||||||||
USD |
3,410,192 | EUR | 3,131,861 | Bank of New York Mellon | 10/03/2023 | 99,032 | ||||||||||||
USD |
55,939 | EUR | 51,312 | BNP Paribas | 10/03/2023 | 1,689 | ||||||||||||
USD |
47,375 | EUR | 43,623 | Citibank, NA | 10/03/2023 | 1,255 | ||||||||||||
USD |
93,542 | EUR | 86,132 | Citibank, NA | 10/03/2023 | 2,478 | ||||||||||||
EUR |
45,362 | USD | 47,853 | Citibank, NA | 10/03/2023 | 106 | ||||||||||||
EUR |
84,583 | USD | 89,228 | Citibank, NA | 10/03/2023 | 198 | ||||||||||||
USD |
4,518 | EUR | 4,160 | Goldman Sachs International | 10/03/2023 | 119 | ||||||||||||
SEK |
850 | EUR | 72 | Goldman Sachs International | 10/03/2023 | 2 | ||||||||||||
USD |
1,112 | EUR | 1,021 | Goldman Sachs International | 10/03/2023 | 32 | ||||||||||||
EUR |
74 | SEK | 850 | Goldman Sachs International | 10/03/2023 | | (h) | |||||||||||
USD |
2,640 | EUR | 2,458 | HSBC Bank plc | 10/03/2023 | 41 | ||||||||||||
USD |
1,806 | EUR | 1,680 | Morgan Stanley & Co. | 10/03/2023 | 29 | ||||||||||||
USD |
21 | EUR | 20 | Morgan Stanley & Co. | 10/03/2023 | | (h) | |||||||||||
USD |
93,246 | EUR | 86,132 | Morgan Stanley & Co. | 10/03/2023 | 2,182 | ||||||||||||
USD |
47,225 | EUR | 43,623 | Morgan Stanley & Co. | 10/03/2023 | 1,105 | ||||||||||||
USD |
700 | EUR | 660 | Morgan Stanley & Co. | 10/03/2023 | 3 | ||||||||||||
USD |
10,869 | EUR | 10,000 | Morgan Stanley & Co. | 10/03/2023 | 297 | ||||||||||||
USD |
8,477 | EUR | 7,800 | Morgan Stanley & Co. | 10/03/2023 | 231 | ||||||||||||
USD |
71 | EUR | 65 | Morgan Stanley & Co. | 10/03/2023 | 2 | ||||||||||||
USD |
33 | EUR | 30 | Morgan Stanley & Co. | 10/03/2023 | 1 | ||||||||||||
USD |
785 | EUR | 730 | Morgan Stanley & Co. | 10/03/2023 | 13 | ||||||||||||
USD |
223 | EUR | 210 | Morgan Stanley & Co. | 10/03/2023 | 1 | ||||||||||||
USD |
535 | EUR | 500 | UBS AG London | 10/03/2023 | 7 | ||||||||||||
USD |
28,257 | EUR | 26,000 | UBS AG London | 10/03/2023 | 768 | ||||||||||||
USD |
16,930 | EUR | 16,000 | UBS AG London | 10/03/2023 | 14 | ||||||||||||
USD |
1,229 | EUR | 1,150 | UBS AG London | 10/03/2023 | 13 | ||||||||||||
USD |
4,255 | EUR | 3,915 | UBS AG London | 10/03/2023 | 116 | ||||||||||||
USD |
1,124 | EUR | 1,050 | UBS AG London | 10/03/2023 | 14 | ||||||||||||
USD |
266 | EUR | 245 | UBS AG London | 10/03/2023 | 7 | ||||||||||||
USD |
130 | EUR | 120 | Westpac Banking Corp. | 10/03/2023 | 3 | ||||||||||||
USD |
20,616 | EUR | 18,926 | Westpac Banking Corp. | 10/03/2023 | 607 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Forward foreign currency exchange contracts outstanding as of September 30, 2023 (continued):
CURRENCY PURCHASED |
CURRENCY SOLD | COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||
USD |
6,233 | EUR | 5,740 | Westpac Banking Corp. | 10/03/2023 | 165 | ||||||||||||
USD |
3,816 | GBP | 3,056 | Bank of America, NA | 10/03/2023 | 87 | ||||||||||||
USD |
536 | GBP | 430 | Bank of America, NA | 10/03/2023 | 11 | ||||||||||||
USD |
698 | GBP | 551 | Citibank, NA | 10/03/2023 | 26 | ||||||||||||
USD |
1,021 | GBP | 805 | Goldman Sachs International | 10/03/2023 | 39 | ||||||||||||
USD |
564,792 | GBP | 445,657 | Goldman Sachs International | 10/03/2023 | 21,046 | ||||||||||||
USD |
10,148 | GBP | 8,000 | Goldman Sachs International | 10/03/2023 | 387 | ||||||||||||
USD |
177,087 | GBP | 139,739 | Goldman Sachs International | 10/03/2023 | 6,592 | ||||||||||||
USD |
22,113 | GBP | 17,514 | Morgan Stanley & Co. | 10/03/2023 | 744 | ||||||||||||
USD |
547 | GBP | 440 | Morgan Stanley & Co. | 10/03/2023 | 10 | ||||||||||||
USD |
15,961 | GBP | 12,642 | Morgan Stanley & Co. | 10/03/2023 | 537 | ||||||||||||
GBP |
8,000 | USD | 9,760 | Morgan Stanley & Co. | 10/03/2023 | | (h) | |||||||||||
USD |
3,802 | GBP | 3,000 | UBS AG London | 10/03/2023 | 142 | ||||||||||||
USD |
583 | GBP | 460 | UBS AG London | 10/03/2023 | 22 | ||||||||||||
HUF |
1,536,791 | USD | 4,167 | Goldman Sachs International | 10/03/2023 | 5 | ||||||||||||
USD |
4,369 | HUF | 1,536,791 | UBS AG London | 10/03/2023 | 197 | ||||||||||||
USD |
61,841 | JPY | 9,012,706 | Bank of America, NA | 10/03/2023 | 1,531 | ||||||||||||
USD |
788 | JPY | 114,210 | Deutsche Bank AG | 10/03/2023 | 24 | ||||||||||||
USD |
20,177 | JPY | 2,930,394 | Morgan Stanley & Co. | 10/03/2023 | 568 | ||||||||||||
USD |
4,427 | NOK | 47,175 | Goldman Sachs International | 10/03/2023 | 17 | ||||||||||||
PLN |
51,358 | USD | 11,755 | Bank of America, NA | 10/03/2023 | 1 | ||||||||||||
USD |
11,358 | PLN | 46,743 | Bank of America, NA | 10/03/2023 | 658 | ||||||||||||
USD |
225 | PLN | 930 | Morgan Stanley & Co. | 10/03/2023 | 12 | ||||||||||||
USD |
893 | PLN | 3,685 | UBS AG London | 10/03/2023 | 49 | ||||||||||||
USD |
5,741 | RON | 26,100 | Goldman Sachs International | 10/03/2023 | 194 | ||||||||||||
SEK |
165 | USD | 15 | Bank of America, NA | 10/03/2023 | | (h) | |||||||||||
USD |
6,748 | SEK | 73,620 | Morgan Stanley & Co. | 10/03/2023 | 10 | ||||||||||||
USD |
3,245 | SEK | 35,398 | Morgan Stanley & Co. | 10/03/2023 | 5 | ||||||||||||
USD |
49 | SEK | 540 | Morgan Stanley & Co. | 10/03/2023 | | (h) | |||||||||||
USD |
386 | SGD | 521 | Bank of America, NA | 10/03/2023 | 5 | ||||||||||||
USD |
7 | SGD | 10 | Deutsche Bank AG | 10/03/2023 | | (h) | |||||||||||
USD |
28,350 | CNY | 206,000 | Brown Brothers Harriman & Co. | 10/10/2023 | 129 | ||||||||||||
USD |
972,382 | CNY | 7,065,000 | Brown Brothers Harriman & Co. | 10/10/2023 | 4,488 | ||||||||||||
CNY |
30,000 | USD | 4,108 | Brown Brothers Harriman & Co. | 10/10/2023 | 2 | ||||||||||||
CNY |
7,235,600 | USD | 990,093 | Brown Brothers Harriman & Co. | 10/10/2023 | 1,173 | ||||||||||||
CNY |
3,600 | USD | 493 | Brown Brothers Harriman & Co. | 10/10/2023 | | (h) | |||||||||||
USD |
8,063 | AUD | 11,841 | Morgan Stanley & Co. | 10/19/2023 | 445 | ||||||||||||
CAD |
1,990 | USD | 1,458 | HSBC Bank plc | 10/19/2023 | 8 | ||||||||||||
USD |
12,869 | CAD | 17,018 | HSBC Bank plc | 10/19/2023 | 337 | ||||||||||||
USD |
2,883 | CHF | 2,476 | HSBC Bank plc | 10/19/2023 | 173 | ||||||||||||
USD |
1,037 | CZK | 22,045 | Morgan Stanley & Co. | 10/19/2023 | 82 | ||||||||||||
USD |
702 | DKK | 4,651 | Goldman Sachs International | 10/19/2023 | 43 | ||||||||||||
USD |
456 | HUF | 163,362 | Citibank, NA | 10/19/2023 | 14 | ||||||||||||
USD |
363 | NOK | 3,663 | HSBC Bank plc | 10/19/2023 | 20 | ||||||||||||
USD |
716 | NZD | 1,136 | Morgan Stanley & Co. | 10/19/2023 | 35 | ||||||||||||
USD |
831 | PLN | 3,307 | HSBC Bank plc | 10/19/2023 | 74 | ||||||||||||
USD |
588 | RON | 2,629 | Barclays Bank plc | 10/19/2023 | 29 | ||||||||||||
USD |
1,117 | SEK | 11,538 | HSBC Bank plc | 10/19/2023 | 60 | ||||||||||||
AUD |
602 | USD | 387 | Citibank, NA | 11/02/2023 | 1 | ||||||||||||
USD |
26 | AUD | 40 | Deutsche Bank AG | 11/02/2023 | | (h) |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Forward foreign currency exchange contracts outstanding as of September 30, 2023 (continued):
CURRENCY PURCHASED |
CURRENCY SOLD | COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||
USD |
2,408 | AUD | 3,700 | Morgan Stanley & Co. | 11/02/2023 | 26 | ||||||||||||||
USD |
126 | CHF | 115 | Morgan Stanley & Co. | 11/02/2023 | | (h) | |||||||||||||
USD |
3,733 | CHF | 3,390 | Morgan Stanley & Co. | 11/02/2023 | 17 | ||||||||||||||
USD |
11,364 | CHF | 10,317 | Morgan Stanley & Co. | 11/02/2023 | 57 | ||||||||||||||
USD |
777 | CZK | 17,890 | Morgan Stanley & Co. | 11/02/2023 | 2 | ||||||||||||||
USD |
9,513 | CZK | 218,664 | UBS AG London | 11/02/2023 | 47 | ||||||||||||||
USD |
1,135 | DKK | 7,969 | Morgan Stanley & Co. | 11/02/2023 | 4 | ||||||||||||||
USD |
65 | DKK | 455 | Morgan Stanley & Co. | 11/02/2023 | | (h) | |||||||||||||
USD |
1,042 | DKK | 7,310 | Morgan Stanley & Co. | 11/02/2023 | 4 | ||||||||||||||
USD |
6,728 | DKK | 47,197 | Morgan Stanley & Co. | 11/02/2023 | 27 | ||||||||||||||
USD |
54,442 | EUR | 51,312 | BNP Paribas | 11/02/2023 | 123 | ||||||||||||||
USD |
20,614 | EUR | 19,401 | Citibank, NA | 11/02/2023 | 76 | ||||||||||||||
USD |
3,386,282 | EUR | 3,191,661 | Morgan Stanley & Co. | 11/02/2023 | 7,597 | ||||||||||||||
EUR |
2,762 | USD | 2,922 | Morgan Stanley & Co. | 11/02/2023 | 1 | ||||||||||||||
USD |
89,691 | EUR | 84,583 | Morgan Stanley & Co. | 11/02/2023 | 151 | ||||||||||||||
USD |
48,102 | EUR | 45,362 | Morgan Stanley & Co. | 11/02/2023 | 81 | ||||||||||||||
USD |
329 | EUR | 310 | Morgan Stanley & Co. | 11/02/2023 | | (h) | |||||||||||||
USD |
873,697 | EUR | 823,608 | Morgan Stanley & Co. | 11/02/2023 | 1,828 | ||||||||||||||
EUR |
2,836 | USD | 3,000 | Morgan Stanley & Co. | 11/02/2023 | 2 | ||||||||||||||
USD |
13,516 | EUR | 12,750 | Morgan Stanley & Co. | 11/02/2023 | 19 | ||||||||||||||
USD |
15,178 | GBP | 12,428 | Barclays Bank plc | 11/02/2023 | 12 | ||||||||||||||
USD |
25,123 | GBP | 20,571 | Barclays Bank plc | 11/02/2023 | 20 | ||||||||||||||
USD |
676 | GBP | 551 | Citibank, NA | 11/02/2023 | 4 | ||||||||||||||
USD |
550,374 | GBP | 448,657 | Goldman Sachs International | 11/02/2023 | 2,862 | ||||||||||||||
USD |
174,038 | GBP | 141,874 | Goldman Sachs International | 11/02/2023 | 905 | ||||||||||||||
USD |
24,416 | GBP | 20,000 | Morgan Stanley & Co. | 11/02/2023 | 9 | ||||||||||||||
GBP |
532 | USD | 648 | Morgan Stanley & Co. | 11/02/2023 | 1 | ||||||||||||||
USD |
26 | HKD | 200 | Toronto-Dominion Bank (The) | 11/02/2023 | | (h) | |||||||||||||
USD |
563 | JPY | 83,660 | Deutsche Bank AG | 11/02/2023 | | (h) | |||||||||||||
USD |
60,811 | JPY | 9,012,706 | Morgan Stanley & Co. | 11/02/2023 | 173 | ||||||||||||||
USD |
20,281 | JPY | 3,009,304 | Royal Bank of Canada | 11/02/2023 | 35 | ||||||||||||||
USD |
4,452 | NOK | 47,175 | Goldman Sachs International | 11/02/2023 | 38 | ||||||||||||||
USD |
285 | NZD | 472 | Deutsche Bank AG | 11/02/2023 | 2 | ||||||||||||||
USD |
555 | RON | 2,610 | Morgan Stanley & Co. | 11/02/2023 | 1 | ||||||||||||||
USD |
5,566 | RON | 26,100 | UBS AG London | 11/02/2023 | 22 | ||||||||||||||
USD |
50 | SEK | 540 | Morgan Stanley & Co. | 11/02/2023 | 1 | ||||||||||||||
USD |
7,038 | SEK | 76,130 | Morgan Stanley & Co. | 11/02/2023 | 61 | ||||||||||||||
USD |
3,347 | SEK | 36,173 | Morgan Stanley & Co. | 11/02/2023 | 32 | ||||||||||||||
USD |
390 | SGD | 531 | UBS AG London | 11/02/2023 | 1 | ||||||||||||||
USD |
753 | CNH | 5,459 | HSBC Bank plc | 11/16/2023 | 4 | ||||||||||||||
USD |
1,807 | IDR | 27,858,741 | Bank of America, NA | 12/20/2023 | 5 | ||||||||||||||
USD |
925 | IDR | 14,225,992 | Morgan Stanley & Co. | 12/20/2023 | 4 | ||||||||||||||
USD |
2,382 | KRW | 3,143,140 | Bank of America, NA | 12/20/2023 | 41 | ||||||||||||||
USD |
1,319 | MYR | 6,136 | Goldman Sachs International | 12/20/2023 | 5 | ||||||||||||||
USD |
15 | MYR | 70 | Morgan Stanley & Co. | 12/20/2023 | | (h) | |||||||||||||
USD |
706 | MYR | 3,283 | Morgan Stanley & Co. | 12/20/2023 | 2 | ||||||||||||||
USD |
323 | PEN | 1,205 | Citibank, NA | 12/20/2023 | 6 |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Forward foreign currency exchange contracts outstanding as of September 30, 2023 (continued):
CURRENCY PURCHASED |
CURRENCY SOLD | COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||
USD |
1,246 | SGD | 1,689 | HSBC Bank plc | 12/20/2023 | 6 | ||||||||||||||
USD |
1,355 | THB | 48,057 | Goldman Sachs International | 12/20/2023 | 26 | ||||||||||||||
USD |
638 | THB | 22,629 | UBS AG London | 12/20/2023 | 12 | ||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation |
191,378 | |||||||||||||||||||
|
|
|||||||||||||||||||
USD |
387 | AUD | 602 | Citibank, NA | 10/03/2023 | ( | )(h) | |||||||||||||
AUD |
602 | USD | 387 | Citibank, NA | 10/03/2023 | ( | )(h) | |||||||||||||
AUD |
3,700 | USD | 2,405 | Morgan Stanley & Co. | 10/03/2023 | (26 | ) | |||||||||||||
CAD |
4,254 | USD | 3,135 | Morgan Stanley & Co. | 10/03/2023 | (3 | ) | |||||||||||||
CHF |
3,390 | USD | 3,721 | Morgan Stanley & Co. | 10/03/2023 | (17 | ) | |||||||||||||
CHF |
125 | EUR | 131 | Morgan Stanley & Co. | 10/03/2023 | (1 | ) | |||||||||||||
CHF |
10,317 | USD | 11,328 | Morgan Stanley & Co. | 10/03/2023 | (58 | ) | |||||||||||||
CHF |
40 | USD | 46 | Morgan Stanley & Co. | 10/03/2023 | (2 | ) | |||||||||||||
CZK |
218,664 | USD | 9,524 | UBS AG London | 10/03/2023 | (47 | ) | |||||||||||||
DKK |
47,197 | USD | 6,718 | Morgan Stanley & Co. | 10/03/2023 | (27 | ) | |||||||||||||
DKK |
7,310 | USD | 1,041 | Morgan Stanley & Co. | 10/03/2023 | (4 | ) | |||||||||||||
USD |
16 | EUR | 15 | Bank of America, NA | 10/03/2023 | ( | )(h) | |||||||||||||
EUR |
51,312 | USD | 54,375 | BNP Paribas | 10/03/2023 | (126 | ) | |||||||||||||
EUR |
19,401 | USD | 20,588 | Citibank, NA | 10/03/2023 | (76 | ) | |||||||||||||
EUR |
3,098 | USD | 3,312 | HSBC Bank plc | 10/03/2023 | (36 | ) | |||||||||||||
EUR |
84,583 | USD | 89,581 | Morgan Stanley & Co. | 10/03/2023 | (155 | ) | |||||||||||||
EUR |
3,191,661 | USD | 3,382,107 | Morgan Stanley & Co. | 10/03/2023 | (7,723 | ) | |||||||||||||
EUR |
823,608 | USD | 872,621 | Morgan Stanley & Co. | 10/03/2023 | (1,861 | ) | |||||||||||||
EUR |
45,362 | USD | 48,043 | Morgan Stanley & Co. | 10/03/2023 | (83 | ) | |||||||||||||
EUR |
643 | USD | 700 | UBS AG London | 10/03/2023 | (20 | ) | |||||||||||||
EUR |
210 | USD | 229 | UBS AG London | 10/03/2023 | (7 | ) | |||||||||||||
GBP |
12,428 | USD | 15,176 | Barclays Bank plc | 10/03/2023 | (12 | ) | |||||||||||||
GBP |
20,571 | USD | 25,119 | Barclays Bank plc | 10/03/2023 | (21 | ) | |||||||||||||
GBP |
214 | USD | 266 | Barclays Bank plc | 10/03/2023 | (6 | ) | |||||||||||||
GBP |
1,300 | USD | 1,587 | BNP Paribas | 10/03/2023 | ( | )(h) | |||||||||||||
GBP |
551 | USD | 676 | Citibank, NA | 10/03/2023 | (4 | ) | |||||||||||||
GBP |
448,657 | USD | 550,274 | Goldman Sachs International | 10/03/2023 | (2,867 | ) | |||||||||||||
GBP |
141,874 | USD | 174,006 | Goldman Sachs International | 10/03/2023 | (907 | ) | |||||||||||||
JPY |
9,012,706 | USD | 60,523 | Morgan Stanley & Co. | 10/03/2023 | (213 | ) | |||||||||||||
JPY |
3,009,304 | USD | 20,184 | Royal Bank of Canada | 10/03/2023 | (47 | ) | |||||||||||||
JPY |
35,300 | USD | 237 | Toronto-Dominion Bank (The) | 10/03/2023 | (1 | ) | |||||||||||||
NOK |
47,175 | USD | 4,448 | Goldman Sachs International | 10/03/2023 | (38 | ) | |||||||||||||
NZD |
472 | USD | 285 | Deutsche Bank AG | 10/03/2023 | (2 | ) | |||||||||||||
USD |
281 | NZD | 472 | Toronto-Dominion Bank (The) | 10/03/2023 | (2 | ) | |||||||||||||
RON |
26,100 | USD | 5,569 | UBS AG London | 10/03/2023 | (22 | ) | |||||||||||||
USD |
226 | SEK | 2,510 | Goldman Sachs International | 10/03/2023 | (4 | ) | |||||||||||||
SEK |
76,130 | USD | 7,029 | Morgan Stanley & Co. | 10/03/2023 | (61 | ) | |||||||||||||
SEK |
540 | USD | 50 | Morgan Stanley & Co. | 10/03/2023 | ( | )(h) | |||||||||||||
SEK |
36,173 | USD | 3,343 | Morgan Stanley & Co. | 10/03/2023 | (32 | ) | |||||||||||||
USD |
57 | SEK | 620 | Morgan Stanley & Co. | 10/03/2023 | ( | )(h) | |||||||||||||
USD |
6 | SEK | 65 | Morgan Stanley & Co. | 10/03/2023 | ( | )(h) | |||||||||||||
USD |
23 | SEK | 255 | UBS AG London | 10/03/2023 | ( | )(h) | |||||||||||||
SGD |
531 | USD | 390 | UBS AG London | 10/03/2023 | (1 | ) | |||||||||||||
USD |
26 | HKD | 200 | Toronto-Dominion Bank (The) | 10/04/2023 | ( | )(h) | |||||||||||||
HKD |
200 | USD | 26 | Toronto-Dominion Bank (The) | 10/04/2023 | ( | )(h) |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Forward foreign currency exchange contracts outstanding as of September 30, 2023 (continued):
CURRENCY PURCHASED |
CURRENCY SOLD | COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||
CNY |
2,800 | USD | 385 | Brown Brothers Harriman & Co. | 10/10/2023 | (2 | ) | |||||||||||||
CNY |
11,000 | USD | 1,514 | Brown Brothers Harriman & Co. | 10/10/2023 | (7 | ) | |||||||||||||
CAD |
807 | USD | 597 | Morgan Stanley & Co. | 10/19/2023 | (3 | ) | |||||||||||||
EUR |
2,822 | USD | 2,990 | Barclays Bank plc | 10/19/2023 | (4 | ) | |||||||||||||
JPY |
102,277 | USD | 729 | Bank of America, NA | 10/19/2023 | (42 | ) | |||||||||||||
JPY |
128,662 | USD | 890 | HSBC Bank plc | 10/19/2023 | (27 | ) | |||||||||||||
JPY |
57,764 | USD | 388 | HSBC Bank plc | 10/19/2023 | ( | )(h) | |||||||||||||
CAD |
560 | USD | 415 | Barclays Bank plc | 11/02/2023 | (2 | ) | |||||||||||||
CAD |
4,254 | USD | 3,159 | Morgan Stanley & Co. | 11/02/2023 | (25 | ) | |||||||||||||
CHF |
40 | USD | 44 | Goldman Sachs International | 11/02/2023 | ( | )(h) | |||||||||||||
CHF |
125 | EUR | 130 | Goldman Sachs International | 11/02/2023 | ( | )(h) | |||||||||||||
USD |
992,125 | CNY | 7,235,600 | Brown Brothers Harriman & Co. | 11/02/2023 | (1,346 | ) | |||||||||||||
USD |
1,070 | DKK | 7,544 | Bank of America, NA | 11/02/2023 | (1 | ) | |||||||||||||
DKK |
1,560 | USD | 222 | Bank of America, NA | 11/02/2023 | ( | )(h) | |||||||||||||
EUR |
2,892 | USD | 3,066 | Barclays Bank plc | 11/02/2023 | (4 | ) | |||||||||||||
USD |
89,339 | EUR | 84,583 | Citibank, NA | 11/02/2023 | (201 | ) | |||||||||||||
USD |
959 | EUR | 907 | Citibank, NA | 11/02/2023 | (1 | ) | |||||||||||||
USD |
47,913 | EUR | 45,362 | Citibank, NA | 11/02/2023 | (108 | ) | |||||||||||||
SEK |
850 | EUR | 74 | Goldman Sachs International | 11/02/2023 | (1 | ) | |||||||||||||
USD |
431 | EUR | 407 | Morgan Stanley & Co. | 11/02/2023 | (1 | ) | |||||||||||||
EUR |
210 | USD | 223 | Morgan Stanley & Co. | 11/02/2023 | (1 | ) | |||||||||||||
EUR |
188 | USD | 200 | Morgan Stanley & Co. | 11/02/2023 | (1 | ) | |||||||||||||
EUR |
659 | USD | 700 | Morgan Stanley & Co. | 11/02/2023 | (3 | ) | |||||||||||||
GBP |
1,000 | USD | 1,221 | Bank of America, NA | 11/02/2023 | ( | )(h) | |||||||||||||
USD |
4,144 | HUF | 1,536,791 | Goldman Sachs International | 11/02/2023 | (5 | ) | |||||||||||||
USD |
11,745 | PLN | 51,358 | Bank of America, NA | 11/02/2023 | (1 | ) | |||||||||||||
SEK |
420 | USD | 39 | Goldman Sachs International | 11/02/2023 | ( | )(h) | |||||||||||||
SEK |
95 | USD | 9 | Goldman Sachs International | 11/02/2023 | ( | )(h) | |||||||||||||
SEK |
1,675 | USD | 154 | Morgan Stanley & Co. | 11/02/2023 | (1 | ) | |||||||||||||
USD |
52,603 | CNH | 383,484 | Morgan Stanley & Co. | 11/16/2023 | (39 | ) | |||||||||||||
USD |
355 | CLP | 319,372 | Citibank, NA | 12/20/2023 | (3 | ) | |||||||||||||
USD |
36 | IDR | 564,320 | Bank of New York Mellon | 12/20/2023 | ( | )(h) | |||||||||||||
USD |
765 | ILS | 2,907 | Barclays Bank plc | 12/20/2023 | ( | )(h) | |||||||||||||
KRW |
1,260,908 | USD | 954 | Bank of America, NA | 12/20/2023 | (15 | ) | |||||||||||||
USD |
1,776 | MXN | 31,682 | Barclays Bank plc | 12/20/2023 | (18 | ) | |||||||||||||
USD |
33 | THB | 1,200 | Bank of America, NA | 12/20/2023 | ( | )(h) | |||||||||||||
|
|
|||||||||||||||||||
Total unrealized depreciation |
(16,374 | ) | ||||||||||||||||||
|
|
|||||||||||||||||||
Net unrealized appreciation (depreciation) |
175,004 | |||||||||||||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
OTC Interest Rate Swaps contracts outstanding as of September 30, 2023:
FLOATING RATE INDEX (a) |
FIXED RATE | PAY/ RECEIVE FLOATING RATE |
COUNTERPARTY | MATURITY DATE |
NOTIONAL AMOUNT |
UPFRONT PAYMENTS (RECEIPTS) ($) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||||
Bank Negara Malaysia KLIBOR Interbank Offered Rate Fixing 3 Month |
|
2.44% quarterly |
|
Pay | |
Morgan Stanley & Co. |
|
11/17/2030 | MYR 5,000 | ( | )(h) | (109 | ) | (109 | ) | |||||||||||||||||
CFETS China Fixing Repo Rates 7 Day |
|
2.36% quarterly |
|
Pay | |
Morgan Stanley & Co. |
|
09/01/2030 | CNY 7,000 | | (8 | ) | (8 | ) | ||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
Total |
( | )(h) | (117 | ) | (117 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
Centrally Cleared Interest Rate Swap contracts outstanding as of September 30, 2023:
FLOATING RATE INDEX (a) |
FIXED RATE | PAY/RECEIVE FLOATING RATE |
MATURITY DATE |
NOTIONAL AMOUNT |
UPFRONT PAYMENTS (RECEIPTS) ($) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) | |||||||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
(0.05)% annually | Pay | 07/08/2024 | JPY | 600,000 | (11 | ) | 9 | (2 | ) | ||||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.14% annually | Pay | 12/06/2024 | JPY | 173,790 | | (h) | 2 | 2 | |||||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.10% semi- annually |
Pay | 12/03/2025 | JPY | 140,000 | ( | )(h) | (4 | ) | (4 | ) | |||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
(0.05)% annually | Pay | 07/08/2027 | JPY | 400,000 | (32 | ) | (18 | ) | (50 | ) | |||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
(0.05)% annually | Pay | 07/08/2028 | JPY | 975,000 | (162 | ) | (22 | ) | (184 | ) | |||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
(0.05)% annually | Receive | 07/08/2029 | JPY | 300,000 | 70 | 9 | 79 | ||||||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
(0.05)% annually | Receive | 07/08/2030 | JPY | 445,000 | 130 | 25 | 155 | ||||||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.30% semi- annually |
Pay | 12/03/2030 | JPY | 143,500 | ( | )(h) | (35 | ) | (35 | ) | |||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.05% annually | Pay | 07/08/2032 | JPY | 120,000 | (39 | ) | (18 | ) | (57 | ) |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Centrally Cleared Interest Rate Swap contracts outstanding as of September 30, 2023 (continued):
FLOATING RATE INDEX (a) |
FIXED RATE | PAY/RECEIVE FLOATING RATE |
MATURITY DATE |
NOTIONAL AMOUNT |
UPFRONT PAYMENTS (RECEIPTS) ($) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) | |||||||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.10% annually |
Pay | 07/08/2033 | JPY | 245,000 | (98 | ) | (34 | ) | (132 | ) | |||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.15% annually |
Pay | 07/08/2037 | JPY | 135,000 | (79 | ) | (42 | ) | (121 | ) | |||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.30% annually |
Pay | 07/08/2043 | JPY | 210,000 | (225 | ) | (54 | ) | (279 | ) | |||||||||||||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
0.45% annually |
Pay | 07/08/2048 | JPY | 115,000 | (141 | ) | (30 | ) | (171 | ) | |||||||||||||
BBSW ASX Australian 6 Month |
2.50% semi- annually |
Pay | 12/03/2025 | AUD | 3,390 | 269 | (370 | ) | (101 | ) | ||||||||||||||
BBSW ASX Australian 6 Month |
2.75% semi- annually |
Pay | 12/03/2030 | AUD | 1,035 | 144 | (222 | ) | (78 | ) | ||||||||||||||
BBSW ASX Australian 6 Month |
2.80% semi- annually |
Pay | 12/03/2033 | AUD | 2,350 | (214 | ) | (32 | ) | (246 | ) | |||||||||||||
BBSW ASX Australian 6 Month |
2.80% semi- annually |
Pay | 12/03/2033 | AUD | 485 | (42 | ) | (9 | ) | (51 | ) | |||||||||||||
Canadian Overnight Repo Rate Average |
4.45% semi- annually |
Pay | 12/03/2024 | CAD | 13,145 | 45 | (141 | ) | (96 | ) | ||||||||||||||
Canadian Overnight Repo Rate Average |
3.65% semi- annually |
Pay | 12/03/2027 | CAD | 8,000 | 132 | (333 | ) | (201 | ) | ||||||||||||||
Canadian Overnight Repo Rate Average |
3.50% semi- annually |
Pay | 12/03/2029 | CAD | 2,325 | 52 | (127 | ) | (75 | ) | ||||||||||||||
Canadian Overnight Repo Rate Average |
3.45% semi- annually |
Pay | 12/03/2032 | CAD | 1,775 | 45 | (122 | ) | (77 | ) | ||||||||||||||
Canadian Overnight Repo Rate Average |
3.55% semi- annually |
Pay | 12/03/2042 | CAD | 1,895 | 57 | (176 | ) | (119 | ) | ||||||||||||||
Canadian Overnight Repo Rate Average |
3.30% semi- annually |
Pay | 12/03/2052 | CAD | 1,510 | 36 | (158 | ) | (122 | ) |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Centrally Cleared Interest Rate Swap contracts outstanding as of September 30, 2023 (continued):
FLOATING RATE INDEX (a) |
FIXED RATE | PAY/RECEIVE FLOATING RATE |
MATURITY DATE |
NOTIONAL AMOUNT |
UPFRONT PAYMENTS (RECEIPTS) ($) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) | |||||||||||||||||
Canadian Overnight Repo Rate Average |
3.30% semi- annually |
Pay | 12/03/2053 | CAD | 115 | ( | )(h) | (9 | ) | (9 | ) | |||||||||||||
CFETS China Fixing Repo Rates 7 Day |
2.30% quarterly |
Pay | 05/11/2025 | CNY | 14,220 | 10 | (1 | ) | 9 | |||||||||||||||
CFETS China Fixing Repo Rates 7 Day |
2.81% quarterly |
Pay | 04/12/2026 | CNY | 3,590 | | (h) | 10 | 10 | |||||||||||||||
CFETS China Fixing Repo Rates 7 Day |
2.60% quarterly |
Pay | 05/11/2028 | CNY | 25,500 | 28 | 10 | 38 | ||||||||||||||||
Colombia IBR Overnight Nominal Interbank Reference Rate |
4.44% quarterly |
Pay | 09/10/2030 | COP | 2,257,000 | | (h) | (132 | ) | (132 | ) | |||||||||||||
ESTR Volume Weighted Trimmed Mean Rate |
1.20% annually |
Pay | 05/11/2052 | EUR | 1,810 | (182 | ) | (508 | ) | (690 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
3.15% quarterly |
Pay | 08/04/2024 | KRW | 1,448,000 | | (h) | (8 | ) | (8 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
1.00% quarterly |
Pay | 09/01/2025 | KRW | 2,400,000 | | (h) | (98 | ) | (98 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
3.14% quarterly |
Pay | 04/19/2028 | KRW | 860,000 | | (h) | (19 | ) | (19 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
1.07% quarterly |
Pay | 04/27/2030 | KRW | 200,000 | (8 | ) | (16 | ) | (24 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
0.97% quarterly |
Pay | 08/14/2030 | KRW | 2,100,000 | | (h) | (275 | ) | (275 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
0.94% quarterly |
Pay | 08/19/2030 | KRW | 5,075,000 | (83 | ) | (578 | ) | (661 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
2.82% quarterly |
Pay | 04/28/2032 | KRW | 1,245,595 | (13 | ) | (55 | ) | (68 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
3.15% quarterly |
Pay | 03/10/2033 | KRW | 1,068,660 | (17 | ) | (25 | ) | (42 | ) | |||||||||||||
KRW Certificate of Deposit 3 Month |
3.10% quarterly |
Pay | 03/10/2043 | KRW | 161,125 | (3 | ) | (7 | ) | (10 | ) | |||||||||||||
SONIA Interest Rate Benchmark |
0.45% annually |
Pay | 03/31/2026 | GBP | 1,250 | | (h) | (193 | ) | (193 | ) | |||||||||||||
SONIA Interest Rate Benchmark |
1.10% annually |
Receive | 05/08/2030 | GBP | 1,980 | 522 | (66 | ) | 456 | |||||||||||||||
SONIA Interest Rate Benchmark |
1.15% annually |
Receive | 05/08/2033 | GBP | 165 | (50 | ) | (2 | ) | (52 | ) | |||||||||||||
SONIA Interest Rate Benchmark |
1.20% annually |
Pay | 05/08/2038 | GBP | 345 | (140 | ) | (4 | ) | (144 | ) | |||||||||||||
SONIA Interest Rate Benchmark |
1.25% annually |
Receive | 05/08/2043 | GBP | 895 | 381 | 70 | 451 | ||||||||||||||||
SONIA Interest Rate Benchmark |
1.25% annually |
Pay | 05/08/2046 | GBP | 1,865 | 300 | (1,317 | ) | (1,017 | ) | ||||||||||||||
SONIA Interest Rate Benchmark |
1.25% annually |
Pay | 05/08/2048 | GBP | 1,155 | (638 | ) | (16 | ) | (654 | ) | |||||||||||||
Swiss Average Rate ON Intraday Value |
0.13% annually |
Pay | 11/05/2031 | CHF | 150 | 2 | (24 | ) | (22 | ) |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Centrally Cleared Interest Rate Swap contracts outstanding as of September 30, 2023 (continued):
FLOATING RATE INDEX (a) |
FIXED RATE | PAY/RECEIVE FLOATING RATE |
MATURITY DATE |
NOTIONAL AMOUNT |
UPFRONT PAYMENTS (RECEIPTS) ($) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) | |||||||||||||||||
Swiss Average Rate ON Intraday Value |
1.91% annually | Pay | 03/31/2033 | CHF | 400 | | (h) | 6 | 6 | |||||||||||||||
Thailand Overnight Repo Rate ON |
1.15% quarterly | Pay | 11/19/2030 | THB | 31,000 | | (h) | (107 | ) | (107 | ) | |||||||||||||
United States SOFR |
1.75% annually | Pay | 06/15/2025 | USD | 15,200 | (441 | ) | (548 | ) | (989 | ) | |||||||||||||
United States SOFR |
3.50% annually | Receive | 06/21/2026 | USD | 5,500 | (1 | ) | 198 | 197 | |||||||||||||||
United States SOFR |
2.00% annually | Receive | 12/21/2027 | USD | 5,400 | 378 | 246 | 624 | ||||||||||||||||
United States SOFR |
1.22% annually | Receive | 08/15/2028 | USD | 5,797 | | (h) | 827 | 827 | |||||||||||||||
United States SOFR |
1.50% semi- annually |
Pay | 12/15/2028 | USD | 27,300 | 173 | (4,169 | ) | (3,996 | ) | ||||||||||||||
United States SOFR |
3.50% annually | Receive | 12/20/2030 | USD | 34,800 | (64 | ) | 1,617 | 1,553 | |||||||||||||||
United States SOFR |
3.50% annually | Receive | 12/20/2033 | USD | 45,100 | (321 | ) | 2,971 | 2,650 | |||||||||||||||
United States SOFR |
3.25% annually | Receive | 12/20/2053 | USD | 7,200 | 444 | 461 | 905 | ||||||||||||||||
|
|
|||||||||||||||||||||||
Total |
|
214 | (3,663 | ) | (3,449 | ) | ||||||||||||||||||
|
|
(a) | Value of floating rate index as of September 30, 2023 was as follows: |
FLOATING RATE INDEX |
||||
Bank Negara Malaysia KLIBOR Interbank Offered Rate Fixing 3 Month |
3.57 | % | ||
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR |
(0.06 | )% | ||
BBSW ASX Australian 6 Month |
4.40 | % | ||
Canadian Overnight Repo Rate Average |
5.02 | % | ||
CFETS China Fixing Repo Rates 7 Day |
2.20 | % | ||
Colombia IBR Overnight Nominal Interbank Reference Rate |
12.29 | % | ||
ESTR Volume Weighted Trimmed Mean Rate |
3.88 | % | ||
KRW Certificate of Deposit 3 Month |
3.83 | % | ||
SONIA Interest Rate Benchmark |
5.19 | % | ||
Swiss Average Rate ON Intraday Value |
1.71 | % | ||
Thailand Overnight Repo Rate ON |
2.49 | % | ||
United States SOFR |
5.31 | % |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Written Call Option contracts on securities as of September 30, 2023:
DESCRIPTION |
COUNTERPARTY | NUMBER OF CONTRACTS |
NOTIONAL AMOUNT |
EXERCISE PRICE |
EXPIRATION DATE |
VALUE($) | ||||||||||||||||||||
FNMA or FHLMC, Single Family, 30 years, TBA, 2.50%, 10/12/2053 |
Citigroup Global Markets, Inc. |
(2,500 | ) | USD | (4 | ) | USD | 82.56 | 10/05/2023 | ( | )(h) | |||||||||||||||
FNMA or FHLMC, Single Family, 30 years, TBA, 4.00%, 10/12/2053 |
Citigroup Global Markets, Inc. |
(8,000 | ) | USD | (1,709 | ) | USD | 89.91 | 10/05/2023 | (19 | ) | |||||||||||||||
FNMA or FHLMC, Single Family, 30 years, TBA, 4.00%, 10/12/2053 |
BofA Securities, Inc. |
(8,500 | ) | USD | (166 | ) | USD | 91.77 | 10/05/2023 | (2 | ) | |||||||||||||||
FNMA or FHLMC, Single Family, 30 years, TBA, 4.00%, 10/12/2053 |
BofA Securities, Inc. |
(1,000 | ) | USD | (7 | ) | USD | 92.44 | 10/05/2023 | ( | )(h) | |||||||||||||||
|
|
|||||||||||||||||||||||||
(21 | ) | |||||||||||||||||||||||||
|
|
Written Put Option contracts on securities as of September 30, 2023:
DESCRIPTION |
COUNTERPARTY | NUMBER OF CONTRACTS |
NOTIONAL AMOUNT |
EXERCISE PRICE |
EXPIRATION DATE |
VALUE($) | ||||||||||||||||||||||
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 10/12/2053 |
|
Citigroup Global Markets, Inc. |
|
(41,000 | ) | USD | (38,879 | ) | USD | 95.22 | 10/05/2023 | (408 | ) | |||||||||||||||
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 10/12/2053 |
|
Citigroup Global Markets, Inc. |
|
(20,000 | ) | USD | (22,259 | ) | USD | 95.44 | 10/05/2023 | (233 | ) | |||||||||||||||
|
|
|||||||||||||||||||||||||||
(641 | ) | |||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
Total Written Options Contracts (Premiums Received $451) |
(662 | ) | ||||||||||||||||||||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Reverse Repurchase Agreemets
COUNTERPARTY |
BORROWING RATE |
SETTLEMENT DATE |
MATURITY DATE |
AMOUNT BORROWED |
PAYABLE FOR REVERSE REPURCHASE AGREEMENTS |
COLLATERAL PLEDGED/ (RECEIVED) |
NET AMOUNT (DUE TO)/ FROM COUNTERPATRY |
|||||||||||||||||||||
BofA Securities, Inc. |
5.46 | % | 9/14/2023 | 10/12/2023 | (21,285 | ) | (21,340 | ) | 21,340 | | ||||||||||||||||||
BofA Securities, Inc. |
5.45 | % | 9/14/2023 | 10/12/2023 | (76,486 | ) | (76,683 | ) | 76,683 | | ||||||||||||||||||
Wells Fargo Bank NA |
5.44 | % | 9/14/2023 | 10/12/2023 | (894 | ) | (896 | ) | 896 | | ||||||||||||||||||
|
|
|||||||||||||||||||||||||||
(98,919 | ) | |||||||||||||||||||||||||||
|
|
Accounted for as Secured Borrowings
Remaining Contractual Maturity of the Agreements
OVERNIGHT AND CONTINUOUS |
UP TO 30 DAYS | 31-90 DAYS | GREATER THAN 90 DAYS |
TOTAL | ||||||||||||||||
Reverse Repurchase Agreements |
||||||||||||||||||||
Mortgage Backed Securities |
| (98,919 | ) | | | (98,919 | ) | |||||||||||||
|
|
|||||||||||||||||||
Payable for Reverse Repurchase Agreements |
(98,919 | ) | ||||||||||||||||||
|
|
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023
ACES | | Alternative Credit Enhancement Securities | ||
ARM | | Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of September 30, 2023. | ||
ASX | | Australian Stock Exchange | ||
BAM | | Insured by Build America Mutual | ||
BBSW | | Bank Bill Swap Rate | ||
CFETS | | China Foreign Exchange Trade System | ||
CLO | | Collateralized Loan Obligations | ||
CMT | | Constant Maturity Treasury | ||
CPI | | Consumer Price Index | ||
DN | | Discount Notes | ||
EURIBOR | | Euro Interbank Offered Rate | ||
ESTR | | Euro short-term rate | ||
FHA | | Federal Housing Administration | ||
FHLB | | Federal Home Loan Bank | ||
FHLMC | | Federal Home Loan Mortgage Corp. | ||
FNMA | | Federal National Mortgage Association | ||
GNMA | | Government National Mortgage Association | ||
GO | | General Obligation | ||
IBR | | Indicador Bancario de Referencia | ||
ICE | | Intercontinental Exchange | ||
IF | | Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index. The interest rate shown is the rate in effect as of September 30, 2023. The rate may be subject to a cap and floor. | ||
IO | | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. | ||
KLIBOR | | Kuala Lumpur Interbank Offered Rate | ||
LIBOR | | London Interbank Offered Rate | ||
OYJ | | Public Limited Company | ||
PO | | Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases. | ||
REIT | | Real Estate Investment Trust |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS (continued)
Reg. S | | Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the Securities Act), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration. | ||
REMICS | | Real Estate Mortgage Investment Conduit | ||
Rev. | | Revenue | ||
SOFR | | Secured Overnight Financing Rate | ||
SONIA | | Sterling Overnight Interbank Average Rate | ||
STRIP | | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. | ||
SUB | | Step-Up Bond. The interest rate shown is the rate in effect as of September 30, 2023. | ||
TBA | | To Be Announced | ||
TONAR | | Tokyo Overnight Average Rate | ||
VA | | Veterans Administration | ||
(e) | | Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | ||
(g) | | Amount rounds to less than 0.05%. | ||
(h) | | Amount rounds to less than 500 shares or principal/ $500. | ||
(t) | | The date shown represents the earliest of the next put date or final maturity date. | ||
(w) | | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | ||
(x) | | Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2023. | ||
(z) | | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of September 30, 2023. | ||
(aa) | | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of September 30, 2023. | ||
(bb) | | Security has been valued using significant unobservable inputs. | ||
(ee) | | Approximately $757 of these investments are restricted as collateral for swaps to Citigroup Clearing. | ||
(ff) | | Approximately $472 of these investments are restricted as collateral for futures to Citigroup Global Markets, Inc. | ||
(gg) | | Position, or portion thereof, has been segregated to collateralize reverse repurchase agreements. | ||
(hh) | | Approximately $7,825 of these investments are restricted as collateral for TBAs to various brokers. | ||
(ii) | | Approximately $543 of these investments are restricted as collateral for forwards to Citigroup Global Markets, Inc. |
Six Circles Global Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS (continued)
(jj) | | Approximately $765 of these investments are restricted as collateral for bi-lateral derivatives to various brokers. | ||
* | | The cost of securities is substantially the same for federal income tax purposes. | ||
AUD | | Australian Dollar | ||
CAD | | Canadian Dollar | ||
CHF | | Swiss Franc | ||
CLP | | Chilean Peso | ||
CNH | | Chinese Yuan | ||
CNY | | Chinese Yuan | ||
COP | | Colombian Peso | ||
CZK | | Czech Koruna | ||
DKK | | Danish Krone | ||
EUR | | Euro | ||
GBP | | British Pound | ||
HKD | | Hong Kong Dollar | ||
HUF | | Hungarian Forint | ||
IDR | | Indonesian Rupiah | ||
ILS | | Israeli New Shekel | ||
JPY | | Japanese Yen | ||
KRW | | Korean Won | ||
MXN | | Mexican Peso | ||
MYR | | Malaysian Ringgit | ||
NOK | | Norwegian Krone | ||
NZD | | New Zealand Dollar | ||
PEN | | Peruvian Nuevo Sol | ||
PLN | | Polish Zloty | ||
RON | | Romanian Leu | ||
SEK | | Swedish Krona | ||
SGD | | Singapore Dollar | ||
THB | | Thai Baht | ||
USD | | United States Dollar |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bond 0.0% (g) |
||||||||
Consumer Non-cyclical 0.0% (g) | ||||||||
Healthcare - Services 0.0% (g) | ||||||||
Tower Health, Series 2020, 4.45%, 02/01/2050 (Cost $866) |
1,000 | 445 | ||||||
|
|
|||||||
Municipal Bonds 97.8% (t) | ||||||||
Alabama 3.4% |
||||||||
Alabama Economic Settlement Authority, BP Settlement, Series A, Rev., 4.00%, 09/15/2033 | 1,000 | 971 | ||||||
Alabama Federal Aid Highway Finance Authority, Garvee, |
||||||||
Series A, Rev., 5.00%, 09/01/2032 (p) | 1,160 | 1,220 | ||||||
Series A, Rev., 5.00%, 09/01/2035 (p) | 1,000 | 1,051 | ||||||
Series A, Rev., 5.00%, 09/01/2036 (p) | 2,000 | 2,076 | ||||||
Alabama Housing Finance Authority, South Oak Residence Project, Rev., 1.25%, 12/01/2025 (z) | 4,270 | 4,097 | ||||||
Alabama Public School and College Authority, Social Bonds, |
||||||||
Series A, Rev., 5.00%, 11/01/2037 | 6,400 | 6,757 | ||||||
Series A, Rev., 5.00%, 11/01/2039 | 10,000 | 10,430 | ||||||
Alabama Special Care Facilities Financing Authority, Ascension Senior Credit Group, Series C, Rev., 5.00%, 11/15/2046 | 5,000 | 4,951 | ||||||
Black Belt Energy Gas District, |
||||||||
Rev., 4.00%, 06/01/2051 (z) | 17,030 | 16,057 | ||||||
Series B1, Rev., 4.00%, 04/01/2053 (z) | 2,000 | 1,925 | ||||||
Series B2, Rev., (SIFMA Municipal Swap Index + 0.65%), 4.63%, 04/01/2053 (aa) | 9,250 | 9,073 | ||||||
Series B, Rev., LIQ: Royal Bank of Canada, 5.25%, 12/01/2053 (z) | 1,845 | 1,893 | ||||||
Series C1, Rev., 5.25%, 02/01/2053 (z) | 12,245 | 12,426 | ||||||
Series D1, Rev., LIQ: Royal Bank of Canada, 4.00%, 07/01/2052 (z) | 3,930 | 3,827 | ||||||
Black Belt Energy Gas District, Gas Project, |
||||||||
Series D1, Rev., 5.50%, 06/01/2049 (z) | 7,100 | 7,241 | ||||||
Series F, Rev., 5.50%, 11/01/2053 (z) | 10,625 | 10,853 | ||||||
Black Belt Energy Gas District, Gas Project Bonds Project No. 7, Rev., 4.00%, 10/01/2052 (z) | 13,120 | 12,752 | ||||||
Black Belt Energy Gas District, Gas Project No. 8, Series A, Rev., 4.00%, 12/01/2052 (z) | 3,410 | 3,185 | ||||||
Black Belt Energy Gas District, Project No. 4, Series A1, Rev., 4.00%, 12/01/2049 (z) | 6,810 | 6,686 | ||||||
Black Belt Energy Gas District, Project No. 5, Series A1, Rev., 4.00%, 10/01/2049 (z) | 5,000 | 4,876 | ||||||
Black Belt Energy Gas District, Project No. 6, Series B, Rev., 4.00%, 10/01/2052 (z) | 6,505 | 6,323 | ||||||
City of Birmingham, Warrants, Series A, GO, 4.00%, 06/01/2032 | 4,075 | 4,082 | ||||||
County of Jefferson, Sewer Revenue, Senior Lien, Warrants, Series A, Rev., AGM, 5.50%, 10/01/2053 | 500 | 502 | ||||||
County of Jefferson, Sewer Revenue, Subordinated Lien, Series D, Rev., 6.50%, 10/01/2053 | 220 | 231 | ||||||
Energy Southeast A Cooperative District, Series A1, Rev., 5.50%, 11/01/2053 (z) | 1,500 | 1,542 | ||||||
Health Care Authority for Baptist Health, Affiliate Of UAB Health System Community, Rev., 5.00%, 11/15/2032 | 10,495 | 10,986 | ||||||
Health Care Authority of the City of Huntsville, Health System, |
||||||||
Series B1, Rev., 4.00%, 06/01/2045 | 1,750 | 1,447 | ||||||
Series B1, Rev., 5.00%, 06/01/2038 | 1,000 | 1,004 | ||||||
Hoover Industrial Development Board, Green Bonds, Rev., AMT, 6.38%, 11/01/2050 (z) | 2,375 | 2,518 | ||||||
Huntsville Public Building Authority, Rev., 5.00%, 02/01/2052 | 3,000 | 3,019 | ||||||
Lower Alabama Gas District (The), Gas Project Revenue Bonds, Rev., 4.00%, 12/01/2050 (z) | 3,250 | 3,186 | ||||||
Selma Industrial Development Board, International Paper Co. Project, Rev., 1.38%, 05/01/2034 (z) | 1,000 | 951 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Alabama continued | ||||||||
Southeast Alabama Gas Supply District (The), Project No. 2, Series A, Rev., 4.00%, 06/01/2049 (z) | 3,765 | 3,740 | ||||||
Southeast Energy Authority A Cooperative District, Project #6, |
||||||||
Series B, Rev., LIQ: Royal Bank of Canada, 5.00%, 06/01/2030 | 2,225 | 2,249 | ||||||
Series B, Rev., LIQ: Royal Bank of Canada, 5.00%, 01/01/2054 (z) | 10,000 | 10,101 | ||||||
Southeast Energy Authority A Cooperative District, Project 1, Series A, Rev., 4.00%, 11/01/2051 (z) | 4,580 | 4,371 | ||||||
Southeast Energy Authority A Cooperative District, Project 2, Series B, Rev., 4.00%, 12/01/2051 (z) | 6,000 | 5,581 | ||||||
Southeast Energy Authority A Cooperative District, Project No. 3, Series A1, Rev., 5.50%, 01/01/2053 (z) | 1,820 | 1,868 | ||||||
Southeast Energy Authority A Cooperative District, Project No. 5, Series A, Rev., 5.25%, 01/01/2054 (z) | 15,000 | 15,097 | ||||||
State of Alabama Docks Department, Docks, |
||||||||
Series A, Rev., AGM, AMT, 5.00%, 10/01/2025 | 1,750 | 1,766 | ||||||
Series A, Rev., AGM, AMT, 5.00%, 10/01/2026 | 1,890 | 1,913 | ||||||
Tuscaloosa City Board of Education, Warrants, Rev., 5.00%, 08/01/2041 (p) | 2,525 | 2,611 | ||||||
Tuscaloosa County Industrial Development Authority, Hunt Refining Project, Series A, Rev., 4.50%, 05/01/2032 (e) | 777 | 709 | ||||||
UAB Medicine Finance Authority, Series B, Rev., 5.00%, 09/01/2041 | 1,750 | 1,758 | ||||||
University of South Alabama, Rev., AGM, 4.00%, 11/01/2035 | 2,000 | 1,886 | ||||||
|
|
|||||||
211,788 | ||||||||
|
|
|||||||
Alaska 0.2% |
||||||||
Alaska Housing Finance Corp., |
||||||||
Series A, Rev., 5.00%, 12/01/2032 (p) | 125 | 125 | ||||||
Series A, Rev., 5.00%, 12/01/2033 (p) | 60 | 60 | ||||||
Alaska Housing Finance Corp., General Mortgage, Series B, Rev., 3.25%, 12/01/2044 | 1,615 | 1,529 | ||||||
Alaska Housing Finance Corp., Social Bonds State Capital, |
||||||||
Rev., 5.00%, 06/01/2032 | 920 | 982 | ||||||
Rev., 5.00%, 12/01/2032 | 945 | 1,009 | ||||||
City of Anchorage Electric Revenue, Senior Lien, Series A, Rev., 5.00%, 12/01/2041 (p) | 1,000 | 1,012 | ||||||
Northern Tobacco Securitization Corp., Senior, Series B2, Rev., Zero Coupon, 06/01/2066 | 9,475 | 913 | ||||||
State of Alaska International Airports System, |
||||||||
Series C, Rev., AMT, 5.00%, 10/01/2025 | 1,000 | 1,009 | ||||||
Series C, Rev., AMT, 5.00%, 10/01/2027 | 2,000 | 2,047 | ||||||
Series C, Rev., AMT, 5.00%, 10/01/2030 | 5,000 | 5,204 | ||||||
|
|
|||||||
13,890 | ||||||||
|
|
|||||||
Arizona 1.8% |
||||||||
Arizona Board of Regents, Series A, Rev., 5.00%, 07/01/2043 | 2,480 | 2,560 | ||||||
Arizona Health Facilities Authority, Banner Health, Series A, Rev., 5.00%, 01/01/2044 (p) | 1,055 | 1,057 | ||||||
Arizona Health Facilities Authority, Scottsdale Lincoln Hospital Project, Rev., 5.00%, 12/01/2029 | 2,705 | 2,723 | ||||||
Arizona Industrial Development Authority, |
||||||||
Series 2019-2, Rev., 3.63%, 05/20/2033 | 1,162 | 1,022 | ||||||
Series A, Rev., 4.00%, 09/01/2035 | 225 | 213 | ||||||
Series A, Rev., 4.00%, 09/01/2036 | 250 | 232 | ||||||
Arizona Industrial Development Authority, Greathearts Arizona Project, |
||||||||
Series A, Rev., 5.00%, 07/01/2024 | 125 | 126 | ||||||
Series A, Rev., 5.00%, 07/01/2026 | 125 | 127 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Arizona continued | ||||||||
Arizona Industrial Development Authority, Jerome Facilities Project, Series B, Rev., 4.00%, 07/01/2051 | 2,000 | 1,534 | ||||||
Arizona Industrial Development Authority, Phoenix Childrens Hospital, Rev., 5.00%, 02/01/2033 | 2,000 | 2,157 | ||||||
Arizona Industrial Development Authority, Somerset Academy of Las Vegas, Aliante, |
||||||||
Rev., 3.00%, 12/15/2031 (e) | 525 | 442 | ||||||
Rev., 4.00%, 12/15/2041 (e) | 500 | 387 | ||||||
Rev., 4.00%, 12/15/2051 (e) | 700 | 484 | ||||||
Arizona State University, |
||||||||
Series A, Rev., 5.00%, 07/01/2043 | 1,105 | 1,135 | ||||||
Series C, Rev., 5.00%, 07/01/2042 | 2,000 | 2,013 | ||||||
Arizona State University, Board of Regents, |
||||||||
Series B, Rev., 5.00%, 07/01/2026 | 100 | 103 | ||||||
Series B, Rev., 5.00%, 07/01/2042 | 2,000 | 2,033 | ||||||
Chandler Industrial Development Authority, Intel Corp. Project, |
||||||||
Rev., AMT, 5.00%, 09/01/2042 (z) | 3,000 | 3,033 | ||||||
Rev., AMT, 5.00%, 09/01/2052 (z) | 2,860 | 2,892 | ||||||
City of Bullhead Excise Taxes Revenue, Second Series, Rev., 0.60%, 07/01/2024 | 250 | 241 | ||||||
City of Mesa Utility System Revenue, Rev., 5.00%, 07/01/2032 | 1,000 | 1,057 | ||||||
City of Phoenix, Civic Improvement Corp., |
||||||||
Series A, Rev., 5.00%, 07/01/2029 | 1,000 | 1,052 | ||||||
Series A, Rev., 5.00%, 07/01/2031 | 2,000 | 2,090 | ||||||
Series A, Rev., 5.00%, 07/01/2032 | 1,000 | 1,045 | ||||||
Series A, Rev., 5.00%, 07/01/2034 | 3,785 | 4,034 | ||||||
Series B, Rev., 5.00%, 07/01/2024 | 130 | 131 | ||||||
City of Phoenix, Civic Improvement Corp., Airport Revenue, Junior Lien, |
||||||||
Series A, Rev., 5.00%, 07/01/2044 | 1,000 | 1,017 | ||||||
Series B, Rev., AMT, 5.00%, 07/01/2027 | 1,500 | 1,531 | ||||||
Series B, Rev., AMT, 5.00%, 07/01/2033 | 2,000 | 2,056 | ||||||
City of Phoenix, Civic Improvement Corp., Junior Lien, Series A, Rev., 5.00%, 07/01/2029 | 1,515 | 1,634 | ||||||
City of Phoenix, Civic Improvement Corp., Junior Lien Airport Special Obligation, Rev., 4.00%, 07/01/2040 | 3,555 | 3,323 | ||||||
County of Pima Sewer System Revenue, Rev., 5.00%, 07/01/2028 | 500 | 533 | ||||||
Gilbert Public Facilities Municipal Property Corp., Rev., 5.00%, 07/01/2026 | 1,025 | 1,061 | ||||||
Gilbert Water Resource Municipal Property Corp., Green Bond Senior Lien, Rev., 4.00%, 07/15/2047 | 1,000 | 896 | ||||||
Industrial Development Authority of the City of Phoenix, Republic Services, Rev., AMT, 4.13%, 12/01/2035 (z) | 6,385 | 6,382 | ||||||
Industrial Development Authority of the County of Pima (The), American Leadership Academy, |
||||||||
Rev., 4.00%, 06/15/2025 (e) | 2,555 | 2,497 | ||||||
Rev., 4.00%, 06/15/2027 (e) | 2,680 | 2,571 | ||||||
Rev., 4.00%, 06/15/2030 (e) | 1,510 | 1,407 | ||||||
Industrial Development Authority of the County of Pima (The), Tucson Medical Center, Rev., 4.00%, 04/01/2035 | 825 | 755 | ||||||
Industrial Development Authority of the County of Yavapai (The), Republic Services, Inc. Project, Rev., 3.95%, 04/01/2029 (z) | 3,315 | 3,315 | ||||||
Industrial Development Authority of the County of Yavapai, Waste Management, Inc. Project, Rev., AMT, 1.30%, 06/01/2027 | 3,260 | 2,875 | ||||||
Maricopa County Industrial Development Authority, Banner Health, |
||||||||
Rev., 5.00%, 01/01/2053 (z) | 2,925 | 3,045 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Arizona continued | ||||||||
Series A3, Rev., 5.00%, 01/01/2053 (z) | 3,000 | 3,157 | ||||||
Series A, Rev., 4.00%, 01/01/2041 | 4,000 | 3,579 | ||||||
Maricopa County Pollution Control Corp., Southern California Edison, Rev., 2.40%, 06/01/2035 | 1,000 | 738 | ||||||
Maricopa County Special Health Care District, Series C, GO, 4.00%, 07/01/2037 | 21,910 | 21,160 | ||||||
Maricopa County Unified School District No. 97-Deer Valley, Series E, GO, 5.00%, 07/01/2025 | 500 | 509 | ||||||
Salt River Project Agricultural Improvement & Power District, Series A, Rev., 5.00%, 12/01/2045 | 8,300 | 8,401 | ||||||
Salt River Project Agricultural Improvement & Power District, Salt River Project, Series A, Rev., 5.00%, 01/01/2026 | 3,000 | 3,083 | ||||||
Salt Verde Financial Corp., Rev., 5.00%, 12/01/2032 | 420 | 423 | ||||||
Tempe Industrial Development Authority, Friendship Village of Tempe, Rev., 1.13%, 12/01/2026 | 3,350 | 3,328 | ||||||
|
|
|||||||
113,199 | ||||||||
|
|
|||||||
Arkansas 0.1% |
||||||||
Arkansas Development Finance Authority, Rev., 5.00%, 06/01/2027 | 535 | 561 | ||||||
Arkansas Development Finance Authority Public Safety Charges Revenue, Division of Emergency Management Project, Rev., 5.00%, 06/01/2024 | 1,000 | 1,007 | ||||||
Arkansas Development Finance Authority, Big River Steel Project, Rev., AMT, 4.50%, 09/01/2049 (e) | 630 | 569 | ||||||
Arkansas Development Finance Authority, Green Bond United States, Rev., AMT, 5.45%, 09/01/2052 | 3,000 | 2,790 | ||||||
|
|
|||||||
4,927 | ||||||||
|
|
|||||||
California 9.4% |
||||||||
Alameda County, Oakland Unified School District, GO, 5.00%, 08/01/2027 | 65 | 67 | ||||||
Anaheim City School District, Election 2016, Series A, GO, 4.00%, 08/01/2048 | 4,000 | 3,609 | ||||||
Anaheim Housing & Public Improvements Authority, Series A, Rev., 5.00%, 10/01/2050 | 1,780 | 1,794 | ||||||
Anaheim Public Financing Authority, Senior Public Improvement Project, Series A, Rev., BAM, 5.00%, 09/01/2036 | 2,250 | 2,304 | ||||||
Bay Area Toll Authority, San Francisco Bay Area, |
||||||||
Rev., 2.00%, 04/01/2053 (z) | 2,200 | 2,174 | ||||||
Series C, Rev., (SIFMA Municipal Swap Index + 0.45%), 4.43%, 04/01/2056 (aa) | 2,675 | 2,616 | ||||||
Bay Area Toll Authority, San Francisco Bay Area Toll, Rev., (SIFMA Municipal Swap Index + 0.41%), 4.39%, 04/01/2056 (aa) | 5,000 | 4,873 | ||||||
Cabrillo Unified School District, Election 2018, Series B, GO, 5.00%, 08/01/2050 | 5,000 | 5,081 | ||||||
California Community Choice Financing Authority, Series B1, Rev., 4.00%, 02/01/2052 (z) | 5,680 | 5,359 | ||||||
California Community Choice Financing Authority, Green Bond, Series A1, Rev., 4.00%, 05/01/2053 (z) | 6,860 | 6,641 | ||||||
California Community Choice Financing Authority, Green Bonds Clean Energy Project, |
||||||||
Rev., 5.00%, 07/01/2053 (z) | 12,050 | 12,154 | ||||||
Rev., 5.00%, 12/01/2053 (z) | 6,160 | 6,204 | ||||||
Rev., 5.00%, 02/01/2054 (z) | 3,245 | 3,274 | ||||||
Rev., 5.25%, 01/01/2054 (z) | 14,375 | 14,341 | ||||||
California County, Tobacco Securitization Agency, Series A, Rev., 5.00%, 06/01/2027 | 10 | 10 | ||||||
California County, Tobacco Securitization Agency, Senior Bonds, Merced County Tobacco Funding Corporation, Rev., 5.00%, 06/01/2032 | 340 | 360 | ||||||
California County, Tobacco Securitization Agency, Sonoma County Securitization, |
||||||||
Rev., 5.00%, 06/01/2031 | 255 | 270 | ||||||
Rev., 5.00%, 06/01/2032 | 250 | 265 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
Rev., 5.00%, 06/01/2033 | 300 | 318 | ||||||
Rev., 5.00%, 06/01/2049 | 250 | 245 | ||||||
California Educational Facilities Authority, Loyola Marymount University, Series A, Rev., NATL, Zero Coupon, 10/01/2037 | 340 | 172 | ||||||
California Educational Facilities Authority, University Southern California, Series C, Rev., 5.25%, 10/01/2024 (p) | 210 | 213 | ||||||
California Health Facilities Financing Authority, Rev., 5.00%, 10/01/2039 (p) (z) | 945 | 974 | ||||||
California Health Facilities Financing Authority, Adventist Health System, Rev., 3.00%, 03/01/2041 (z) | 1,815 | 1,804 | ||||||
California Health Facilities Financing Authority, Cedars Sinai Health System, Rev., 4.00%, 08/15/2040 | 4,050 | 3,819 | ||||||
California Health Facilities Financing Authority, Childrens Hospital, Rev., 4.00%, 11/01/2035 | 1,460 | 1,436 | ||||||
California Health Facilities Financing Authority, City of Hope, Rev., 5.00%, 11/15/2049 | 3,000 | 2,881 | ||||||
California Health Facilities Financing Authority, Commonspirit Health, |
||||||||
Series A, Rev., 4.00%, 04/01/2038 | 3,500 | 3,205 | ||||||
Series A, Rev., 5.00%, 04/01/2033 | 3,000 | 3,141 | ||||||
California Health Facilities Financing Authority, Kaiser Permanente, Series A2, Rev., 4.00%, 11/01/2044 | 3,000 | 2,791 | ||||||
California Health Facilities Financing Authority, PIH Health, Series A, Rev., 5.00%, 06/01/2035 | 3,010 | 3,109 | ||||||
California Health Facilities Financing Authority, Stanford Health Care, Series A, Rev., 5.00%, 11/15/2030 | 2,000 | 2,108 | ||||||
California Health Facilities Financing Authority, Sutter Health, |
||||||||
Series A, Rev., 4.00%, 11/15/2048 | 2,240 | 1,952 | ||||||
Series A, Rev., 5.00%, 08/15/2043 (p) | 465 | 477 | ||||||
California Health Facilities Financing Authority, Unrefunded, Rev., 5.00%, 10/01/2039 (z) | 1,055 | 1,075 | ||||||
California Housing Finance Agency, Series 2021-1, Rev., 3.50%, 11/20/2035 | 963 | 844 | ||||||
California Housing Finance Agency, Social Certificates, Series A, Rev., 3.25%, 08/20/2036 | 6,687 | 5,853 | ||||||
California Infrastructure & Economic Development Bank, Brightline West Passenger, Rev., AMT, 3.65%, 01/01/2050 (e) (z) | 11,995 | 11,922 | ||||||
California Infrastructure & Economic Development Bank, J. Paul Getty Trust, Rev., 3.00%, 10/01/2047 (z) | 1,000 | 972 | ||||||
California Infrastructure & Economic Development Bank, Los Angeles County, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 4.68%, 12/01/2050 (aa) | 1,370 | 1,332 | ||||||
California Infrastructure & Economic Development Bank, Sanford Consortium Project, Series A, Rev., 5.00%, 05/15/2031 | 1,230 | 1,279 | ||||||
California Municipal Finance Authority, Open Door Community Health Center, |
||||||||
Rev., 4.00%, 09/15/2034 | 920 | 921 | ||||||
Rev., 4.00%, 09/15/2035 | 960 | 944 | ||||||
Rev., 4.00%, 09/15/2036 | 1,000 | 951 | ||||||
California Municipal Finance Authority, Republic Services, Rev., AMT, 4.38%, 09/01/2053 (z) | 1,000 | 982 | ||||||
California Municipal Finance Authority, Simpson University, Series A, Rev., 6.00%, 10/01/2050 (e) | 2,000 | 1,895 | ||||||
California Municipal Finance Authority, Southern California Institute, Rev., 5.00%, 12/01/2037 | 745 | 749 | ||||||
California Municipal Finance Authority, Subordinate Caritas Project, Series B, Rev., 4.00%, 08/15/2041 | 300 | 258 | ||||||
California Municipal Finance Authority, Taxable Virginia Oceanside Health Care Center, Rev., 3.64%, 07/01/2030 (e) | 2,985 | 2,525 | ||||||
California Municipal Finance Authority, Walnut Apartments, Rev., HUD, 0.45%, 12/01/2024 (z) | 1,125 | 1,116 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
California Municipal Finance Authority, Waste Management, Inc. Project, |
||||||||
Rev., AMT, 0.70%, 12/01/2044 (z) | 1,670 | 1,658 | ||||||
Series A, Rev., AMT, 2.40%, 10/01/2044 (z) | 4,960 | 4,332 | ||||||
California Pollution Control Financing Authority, Plant Bonds, |
||||||||
Rev., AMT, 5.00%, 07/01/2037 (e) | 1,500 | 1,500 | ||||||
Rev., AMT, 5.00%, 11/21/2045 (e) | 5,000 | 4,755 | ||||||
California Pollution Control Financing Authority, Poseidon Resources, Rev., AMT, 5.00%, 07/01/2037 (e) | 2,200 | 2,229 | ||||||
California Pollution Control Financing Authority, Republic Services, Inc., Rev., AMT, 4.10%, 11/01/2042 (e) (z) | 3,600 | 3,599 | ||||||
California Pollution Control Financing Authority, Republic Services, Inc. Project, Rev., AMT, 4.10%, 11/01/2042 (e) (z) | 3,000 | 2,999 | ||||||
California Public Finance Authority, Enso Village Project, Rev., 2.13%, 11/15/2027 (e) | 1,000 | 958 | ||||||
California Public Finance Authority, Enso Village Project, Green Bond, Rev., 5.00%, 11/15/2036 (e) | 325 | 304 | ||||||
California Public Finance Authority, Henry Mayo Newhall Hospital, |
||||||||
Rev., 5.00%, 10/15/2032 | 1,000 | 1,009 | ||||||
Series A, Rev., 4.00%, 10/15/2023 | 130 | 130 | ||||||
California School Finance Authority, Rocketship Education Obligated, Series A, Rev., 5.00%, 06/01/2034 (e) | 1,230 | 1,224 | ||||||
California State Public Works Board, Series H, Rev., 5.00%, 12/01/2026 | 1,000 | 1,029 | ||||||
California State Public Works Board, Corrections Facilities, Series A, Rev., 5.00%, 09/01/2039 | 7,560 | 7,590 | ||||||
California State Public Works Board, Forward Delivery, Series A, Rev., 5.00%, 02/01/2030 | 2,500 | 2,704 | ||||||
California State Public Works Board, Various Capital Projects, |
||||||||
Rev., 4.00%, 11/01/2030 | 1,245 | 1,249 | ||||||
Rev., 4.00%, 11/01/2031 | 1,000 | 1,002 | ||||||
Rev., 5.00%, 11/01/2026 | 565 | 587 | ||||||
Rev., 5.00%, 09/01/2028 (w) | 1,810 | 1,930 | ||||||
Series D, Rev., 4.00%, 11/01/2037 | 1,000 | 986 | ||||||
California State University, Series A, Rev., 5.00%, 11/01/2044 | 2,640 | 2,751 | ||||||
California State University, Systemwide, Series A, Rev., 4.00%, 11/01/2035 | 1,000 | 991 | ||||||
California Statewide Communities Development Authority, Series B, Special Assessment, 4.00%, 09/02/2040 | 570 | 462 | ||||||
California Statewide Communities Development Authority, Enloe Medical Center, Series A, Rev., AGM, 5.13%, 08/15/2047 | 500 | 519 | ||||||
California Statewide Communities Development Authority, Green Bond, Marin General Hospital, Rev., 4.00%, 08/01/2045 | 3,000 | 2,407 | ||||||
California Statewide Communities Development Authority, Loma Linda University Medical, Rev., 5.50%, 12/01/2058 (e) | 2,000 | 1,900 | ||||||
California Statewide Communities Development Authority, Loma Linda University Medical Center, | ||||||||
Rev., 5.25%, 12/01/2044 | 6,065 | 5,693 | ||||||
Rev., 5.50%, 12/01/2054 | 1,100 | 1,070 | ||||||
Series A, Rev., 5.00%, 12/01/2026 (e) | 300 | 300 | ||||||
Series A, Rev., 5.00%, 12/01/2041 (e) | 2,000 | 1,855 | ||||||
Series A, Rev., 5.25%, 12/01/2056 (e) | 3,000 | 2,747 | ||||||
California Statewide Communities Development Authority, Montage Health, Series A, Rev., 4.00%, 06/01/2028 | 435 | 443 | ||||||
California Statewide Communities Development Authority, South California Edison Co., Rev., 2.63%, 11/01/2033 (z) | 275 | 274 | ||||||
Chino Valley Unified School District, Election of 2016, Series C, GO, Zero Coupon, 08/01/2034 | 125 | 79 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
City & County of San Francisco, Series R2, GO, 5.00%, 06/15/2024 | 1,000 | 1,010 | ||||||
City & County of San Francisco, Special Tax District No. 2020-1, Mission Rock Facilities and Services, | ||||||||
Special Tax, 4.00%, 09/01/2031 (e) | 300 | 282 | ||||||
Special Tax, 4.00%, 09/01/2036 (e) | 155 | 136 | ||||||
City of Dixon, Community Facilities District Improvement, Special Tax, 4.00%, 09/01/2036 | 200 | 181 | ||||||
City of Fresno, Airport Revenue, Series A, Rev., BAM, AMT, 5.00%, 07/01/2048 | 1,000 | 991 | ||||||
City of Long Beach Airport System Revenue, |
||||||||
Series C, Rev., AGM, AMT, 5.00%, 06/01/2042 | 1,000 | 998 | ||||||
Series C, Rev., AGM, AMT, 5.25%, 06/01/2047 | 1,000 | 1,018 | ||||||
City of Los Angeles Department of Airports, |
||||||||
Rev., AMT, 5.00%, 05/15/2026 | 1,500 | 1,530 | ||||||
Series B, Rev., AMT, 5.00%, 05/15/2027 | 1,000 | 1,029 | ||||||
Series B, Rev., AMT, 5.00%, 05/15/2046 | 21,965 | 21,879 | ||||||
City of Los Angeles Department of Airports, Los Angeles International Airport, Rev., AMT, 5.00%, 05/15/2032 | 1,000 | 1,041 | ||||||
City of Los Angeles Department of Airports, Senior, |
||||||||
Series A, Rev., AMT, 4.75%, 05/15/2040 | 2,415 | 2,379 | ||||||
Series B, Rev., 5.00%, 05/15/2034 | 1,600 | 1,754 | ||||||
Series C, Rev., AMT, 5.00%, 05/15/2036 | 4,090 | 4,249 | ||||||
City of Los Angeles Department of Airports, Senior Bonds Green Bond Project, |
||||||||
Rev., AMT, 5.00%, 05/15/2029 | 4,000 | 4,187 | ||||||
Rev., AMT, 5.25%, 05/15/2047 | 4,000 | 4,095 | ||||||
City of Los Angeles Department of Airports, Subordinate, |
||||||||
Series B, Rev., 5.00%, 05/15/2040 | 900 | 963 | ||||||
Series C, Rev., 5.00%, 05/15/2038 | 2,000 | 2,032 | ||||||
Series D, Rev., AMT, 5.00%, 05/15/2027 | 2,605 | 2,678 | ||||||
Series D, Rev., AMT, 5.00%, 05/15/2028 | 500 | 518 | ||||||
Series D, Rev., AMT, 5.00%, 05/15/2029 | 4,485 | 4,674 | ||||||
City of Los Angeles Department of Airports, Subordinate Los Angeles International Airport, |
||||||||
Rev., AMT, 5.00%, 05/15/2027 | 1,235 | 1,270 | ||||||
Rev., AMT, 5.00%, 05/15/2029 | 1,000 | 1,042 | ||||||
City of Los Angeles Department of Airports, Subordinate P3 Project, |
||||||||
Series A, Rev., AMT, 5.00%, 05/15/2026 | 1,180 | 1,203 | ||||||
Series A, Rev., AMT, 5.00%, 05/15/2046 | 8,000 | 7,980 | ||||||
City of Los Angeles Department of Airports, Subordinated, |
||||||||
Series C, Rev., AMT, 5.00%, 05/15/2033 | 1,330 | 1,366 | ||||||
Series E, Rev., 5.00%, 05/15/2039 | 1,510 | 1,588 | ||||||
Series E, Rev., 5.00%, 05/15/2044 | 1,000 | 1,034 | ||||||
City of Los Angeles Department of Airports, Subordinated Los Angeles International, Rev., AMT, 5.25%, 05/15/2038 | 1,735 | 1,770 | ||||||
City of Los Angeles Wastewater System Revenue, Subordinate, Series C, Rev., 5.00%, 06/01/2026 | 500 | 520 | ||||||
City of Roseville, Special Tax, | ||||||||
5.00%, 09/01/2035 |
1,160 | 1,174 | ||||||
4.00%, 09/01/2040 | 1,000 | 853 | ||||||
City of San Francisco, Public Utilities Commission Water Revenue, Regional Water, Series B, Rev., 5.00%, 11/01/2050 | 4,235 | 4,338 | ||||||
City of Santa Rosa Wastewater Revenue, Series A, Rev., 5.00%, 09/01/2033 | 1,770 | 1,930 | ||||||
City of Victorville Electric Revenue, |
||||||||
Series A, Rev., 5.00%, 05/01/2038 | 1,055 | 1,099 | ||||||
Series A, Rev., 5.00%, 05/01/2039 | 1,110 | 1,153 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
City of Woodland, Facilities District Number 2004 1 Capital Project, Special Tax, 4.00%, 09/01/2041 | 500 | 441 | ||||||
Coachella Valley Water District Drinking Water System Revenue, Notes, Series A, Rev., 1.38%, 06/01/2025 | 2,000 | 1,883 | ||||||
Coast Community College District, Election of 2012, Series F, GO, Zero Coupon, 08/01/2040 | 3,020 | 1,284 | ||||||
Compton Community Redevelopment Agency Successor Agency, Series A, Tax Allocation, AGM, 5.00%, 08/01/2042 | 750 | 770 | ||||||
Compton Unified School District, Series B, GO, BAM, Zero Coupon, 06/01/2036 | 1,400 | 747 | ||||||
County of Los Angeles Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2033 | 105 | 108 | ||||||
County of Los Angeles, Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2042 | 540 | 518 | ||||||
CSCDA Community Improvement Authority, Series A, Rev., 5.00%, 01/01/2054 (e) | 3,295 | 2,448 | ||||||
CSCDA Community Improvement Authority, Renaissance at City Center, Series A, Rev., 5.00%, 07/01/2051 (e) | 215 | 186 | ||||||
CSCDA Community Improvement Authority, Social Bonds, Rev., 4.00%, 08/01/2056 (e) | 410 | 288 | ||||||
CSCDA Community Improvement Authority, Union South Bay, Social Bonds, Rev., 4.00%, 07/01/2056 (e) | 2,000 | 1,357 | ||||||
Department of Veterans Affairs, Veterans Farm & Home Purchase Program, Series A, Rev., 3.00%, 12/01/2050 | 830 | 793 | ||||||
East Bay Municipal Utility District Water System Revenue, Green Bond, Series A, Rev., 5.00%, 06/01/2035 | 1,200 | 1,270 | ||||||
East Side Union High School District, 2014 Election Education Tech, |
||||||||
Series D, GO, 5.00%, 08/01/2024 | 300 | 303 | ||||||
Series D, GO, 5.00%, 08/01/2025 | 400 | 409 | ||||||
Eastern Municipal Water District, Series A, Rev., 3.00%, 07/01/2024 | 30 | 30 | ||||||
Elk Grove Finance Authority, Special Tax, 4.00%, 09/01/2040 | 1,280 | 1,075 | ||||||
FHLMC Multifamily ML Certificates, Series 2021-ML10, Class A, Rev., 2.03%, 01/25/2038 (e) | 336 | 233 | ||||||
Fresno Unified School District, Series D, GO, 2.00%, 08/01/2024 | 100 | 98 | ||||||
Golden State Tobacco Securitization Corp., Subordinated, Series B2, Rev., Zero Coupon, 06/01/2066 | 15,000 | 1,298 | ||||||
Golden State Tobacco Securitization Corp., Taxable Tobacco Settlement Asset Backed Bonds, Series C, Rev., 2.75%, 06/01/2034 | 1,900 | 1,495 | ||||||
Golden State Tobacco Securitization Corp., Tobacco Settlement Asset Backed Bonds, Rev., 5.00%, 06/01/2051 | 2,235 | 2,269 | ||||||
Hayward Unified School District, COP, 5.25%, 08/01/2047 | 3,000 | 3,024 | ||||||
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, Green Bond Measure R, Rev., 5.00%, 06/01/2027 | 1,000 | 1,058 | ||||||
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, Proposition C, Series A, Rev., 5.00%, 07/01/2027 | 1,255 | 1,332 | ||||||
Los Angeles County Metropolitan Transportation Authority, Measure R Junior Subordinated, Green Bonds, Series A, Rev., 5.00%, 06/01/2034 | 7,000 | 7,407 | ||||||
Los Angeles County Sanitation Districts Financing Authority, Series A, Rev., 4.00%, 10/01/2033 | 1,000 | 1,005 | ||||||
Los Angeles County, Metropolitan Transportation Authority, Green Bond, Measure R Junior Subordinated, Series A, Rev., 5.00%, 06/01/2030 | 1,500 | 1,659 | ||||||
Los Angeles Department of Water, |
||||||||
Series B, Rev., 4.00%, 07/01/2027 | 1,500 | 1,537 | ||||||
Series B, Rev., 4.00%, 07/01/2029 | 1,000 | 1,041 | ||||||
Series B, Rev., 5.00%, 07/01/2037 | 740 | 779 | ||||||
Los Angeles Department of Water & Power, |
||||||||
Series A, Rev., 5.00%, 07/01/2029 | 3,000 | 3,274 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
Series B, Rev., 5.00%, 07/01/2039 | 500 | 543 | ||||||
Series C, Rev., 5.00%, 07/01/2038 | 275 | 299 | ||||||
Series E, Rev., 5.00%, 07/01/2044 | 2,000 | 2,000 | ||||||
Los Angeles Department of Water & Power Water System Revenue, |
||||||||
Series A, Rev., 4.00%, 07/01/2047 | 8,000 | 7,309 | ||||||
Series A, Rev., 5.00%, 07/01/2044 | 1,000 | 1,000 | ||||||
Los Angeles Department of Water & Power, Power System Bonds, Series C, Rev., 5.00%, 07/01/2037 | 1,000 | 1,061 | ||||||
Los Angeles Department of Water & Power, Power System Revenue, |
||||||||
Series A, Rev., 5.25%, 07/01/2049 | 9,500 | 9,867 | ||||||
Series B, Rev., 5.00%, 07/01/2038 | 1,000 | 1,029 | ||||||
Los Angeles Unified School District, |
||||||||
Series A, GO, 3.00%, 01/01/2034 | 2,000 | 1,782 | ||||||
Series C, GO, 4.00%, 07/01/2036 | 1,000 | 993 | ||||||
Series C, GO, 5.00%, 07/01/2026 | 2,285 | 2,377 | ||||||
Series RYQ, GO, 5.00%, 07/01/2035 | 1,280 | 1,394 | ||||||
Los Angeles Unified School District, Election 2008, Series B1, GO, BAM, 5.00%, 07/01/2029 | 100 | 107 | ||||||
Los Angeles Unified School District, Sustainability Bonds, Series QRR, GO, 5.00%, 07/01/2026 | 550 | 572 | ||||||
Marin Municipal Water District, Subordinate, Rev., 4.00%, 06/15/2045 | 3,500 | 3,226 | ||||||
Metropolitan Water District of Southern California, Rev., 5.00%, 01/01/2038 | 3,015 | 3,165 | ||||||
Municipal Improvement Corp. of Los Angeles, Real Property, Series B, Rev., 5.00%, 11/01/2039 | 2,535 | 2,654 | ||||||
Natomas Unified School District, |
||||||||
Series A, GO, AGM, 4.00%, 08/01/2045 | 7,740 | 7,022 | ||||||
Series A, GO, AGM, 4.00%, 08/01/2049 | 2,655 | 2,389 | ||||||
Norman Y Mineta San Jose International Airport SJC, |
||||||||
Series A, Rev., AMT, 5.00%, 03/01/2027 | 1,480 | 1,514 | ||||||
Series A, Rev., AMT, 5.00%, 03/01/2031 | 1,000 | 1,045 | ||||||
Series A, Rev., AMT, 5.00%, 03/01/2032 | 2,000 | 2,087 | ||||||
Series A, Rev., AMT, 5.00%, 03/01/2036 | 1,160 | 1,177 | ||||||
Northern California Energy Authority, Series A, Rev., 4.00%, 07/01/2049 (z) | 2,000 | 1,994 | ||||||
Norwalk-La Mirada Unified School District, Series D, GO, 3.00%, 08/01/2043 | 2,000 | 1,482 | ||||||
Norwalk-La Mirada Unified School District, Election 2014, Series E, GO, 3.00%, 08/01/2050 | 10,000 | 6,835 | ||||||
Oakland Unified School District/Alameda County, Election Of 2012, Series A, GO, AGM, 4.00%, 08/01/2034 | 1,000 | 1,002 | ||||||
Ontario International Airport Authority, Series A, Rev., AGM, 5.00%, 05/15/2046 | 1,500 | 1,566 | ||||||
Orange County Community Facilities District, District No. 2021-1 Rienda, Series A, Special Tax, 5.00%, 08/15/2033 | 300 | 309 | ||||||
Orange County Transportation Authority, 405 Improvement Project, Rev., BAN, 5.00%, 10/15/2024 (p) | 3,230 | 3,276 | ||||||
Oxnard Union High School District, Series B, GO, 5.00%, 08/01/2045 | 3,000 | 3,086 | ||||||
Palomar Health, Rev., 5.00%, 11/01/2039 | 4,000 | 3,772 | ||||||
Palomar Health, Capital Appreciation, Electric of 2004, |
||||||||
Series A, GO, AGC, Zero Coupon, 08/01/2028 | 500 | 411 | ||||||
Series A, GO, AGC, Zero Coupon, 08/01/2031 | 330 | 237 | ||||||
Peralta Community College District, GO, 5.25%, 08/01/2037 | 2,000 | 2,221 | ||||||
Pittsburg Public Financing Authority, Series A, Rev., AGM, 4.13%, 08/01/2047 | 1,400 | 1,307 | ||||||
Port of Oakland, Intermediate Lien, |
||||||||
Series H, Rev., AMT, 5.00%, 05/01/2027 | 2,500 | 2,570 | ||||||
Series H, Rev., AMT, 5.00%, 05/01/2028 | 4,275 | 4,436 | ||||||
Series H, Rev., AMT, 5.00%, 05/01/2029 | 980 | 1,025 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
River Islands Public Financing Authority, Community Facilities District No. 2003-1, Special Tax, AGM, 5.25%, 09/01/2052 | 1,085 | 1,133 | ||||||
Sacramento City Unified School District, GO, BAM, 5.00%, 07/01/2031 | 525 | 584 | ||||||
Sacramento City Unified School District, Election of 2020 Measure, |
||||||||
GO, BAM, 5.00%, 08/01/2024 | 860 | 868 | ||||||
GO, BAM, 5.00%, 08/01/2038 | 500 | 525 | ||||||
Sacramento County Sanitation Districts Financing Authority, Series A, Rev., 5.00%, 12/01/2044 | 4,250 | 4,255 | ||||||
Sacramento Municipal Utility District, Electric, Series H, Rev., 4.00%, 08/15/2040 | 2,000 | 1,920 | ||||||
San Bernardino City of California Unified School District, GO, AGM, 4.00%, 08/01/2041 | 1,130 | 1,070 | ||||||
San Bernardino Community College District, Election of 2018, Series A, GO, 3.00%, 08/01/2041 (p) | 2,000 | 1,927 | ||||||
San Diego Community College District, GO, 4.00%, 08/01/2032 (p) | 2,910 | 2,956 | ||||||
San Diego County Regional Airport Authority, Subordinate, Series B, Rev., AMT, 4.00%, 07/01/2036 | 1,090 | 1,038 | ||||||
San Diego County Regional Airport Authority, Subordinated, |
||||||||
Rev., 5.00%, 07/01/2034 | 1,000 | 1,093 | ||||||
Series B, Rev., AMT, 5.00%, 07/01/2031 | 775 | 791 | ||||||
San Diego Public Facilities Financing Authority, Series A, Rev., 5.00%, 05/15/2039 | 1,565 | 1,602 | ||||||
San Diego Unified School District, Election 2008, Series E, GO, Zero Coupon, 07/01/2034 | 1,250 | 798 | ||||||
San Diego Unified School District, Election 2012, Series I, GO, 4.00%, 07/01/2047 | 8,000 | 7,433 | ||||||
San Dieguito School Facilities Financing Authority, Special Tax, 5.00%, 03/01/2031 | 1,030 | 1,089 | ||||||
San Francisco Bay Area Rapid Transit District, Election 2004, Green Bond, GO, 5.00%, 08/01/2036 | 1,875 | 1,956 | ||||||
San Francisco Bay Area Rapid Transit District, Green Bonds, Series C1, GO, 4.00%, 08/01/2032 | 1,000 | 1,020 | ||||||
San Francisco City & County Airport Commission-San Francisco International Airport, |
||||||||
Series H, Rev., AMT, 5.00%, 05/01/2025 | 1,500 | 1,520 | ||||||
Series H, Rev., AMT, 5.00%, 05/01/2028 | 3,000 | 3,109 | ||||||
San Francisco City & County Airport Commission-San Francisco International Airport, Unrefunded, | ||||||||
Rev., AMT, 5.00%, 05/01/2027 | 775 | 793 | ||||||
Series A, Rev., AMT, 5.00%, 05/01/2044 | 1,495 | 1,472 | ||||||
San Francisco City & County Airport Comm-San Francisco International Airport, |
||||||||
Series A, Rev., AMT, 5.00%, 05/01/2025 | 2,000 | 2,026 | ||||||
Series A, Rev., AMT, 5.00%, 05/01/2030 | 2,000 | 2,087 | ||||||
Series A, Rev., AMT, 5.00%, 05/01/2032 | 2,000 | 2,099 | ||||||
Series C, Rev., 5.00%, 05/01/2046 | 1,920 | 1,945 | ||||||
San Francisco City & County Public Utilities Commission Wastewater Revenue, Green Bonds, Series C, Rev., 4.00%, 10/01/2048 (z) | 2,290 | 2,311 | ||||||
San Francisco Unified School District, Series B, GO, 4.00%, 06/15/2035 | 300 | 303 | ||||||
San Joaquin Hills Transportation Corridor Agency, Junior Lien, |
||||||||
Series B, Rev., 5.25%, 01/15/2044 | 8,020 | 8,062 | ||||||
Series B, Rev., 5.25%, 01/15/2049 | 3,000 | 3,012 | ||||||
San Joaquin Hills Transportation Corridor Agency, Senior Lien Toll Road, Rev., 4.00%, 01/15/2034 | 3,000 | 2,974 | ||||||
San Jose Unified School District, Taxable, GO, 1.01%, 08/01/2027 | 1,700 | 1,464 | ||||||
San Mateo County Community College District, Capital Appreciation Election 2005, Series B, GO, NATL, Zero Coupon, 09/01/2035 | 1,955 | 1,179 | ||||||
Santa Clara Valley Water District, Water System Utility Improvement, COP, 5.00%, 06/01/2038 | 2,495 | 2,669 | ||||||
Santaluz Community Facilities District No. 2, Special Tax, 3.00%, 09/01/2024 | 95 | 94 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
Sierra View Local Health Care District, Tulare Co., Rev., 4.00%, 07/01/2024 | 475 | 472 | ||||||
South San Francisco Public Facilities Financing Authority, Multiple Capital Projects at Orange Memorial Park, Rev., 5.25%, 06/01/2046 | 1,000 | 1,046 | ||||||
Southern California Public Power Authority, Green Bond Milford Wind Co., |
||||||||
Rev., 5.00%, 07/01/2024 | 40 | 40 | ||||||
Rev., 5.00%, 07/01/2025 | 250 | 256 | ||||||
State of California, |
||||||||
GO, 3.00%, 11/01/2040 | 500 | 405 | ||||||
GO, 4.00%, 11/01/2041 | 1,000 | 951 | ||||||
GO, 5.00%, 09/01/2024 | 5,000 | 5,064 | ||||||
GO, 5.00%, 10/01/2026 | 2,000 | 2,082 | ||||||
GO, 5.00%, 04/01/2027 | 145 | 152 | ||||||
GO, 5.00%, 09/01/2027 | 3,000 | 3,166 | ||||||
GO, 5.00%, 04/01/2028 | 1,000 | 1,065 | ||||||
GO, 5.00%, 09/01/2028 | 3,160 | 3,385 | ||||||
GO, 5.00%, 04/01/2029 | 80 | 86 | ||||||
GO, 5.00%, 09/01/2029 | 2,005 | 2,163 | ||||||
GO, 5.00%, 11/01/2029 | 8,215 | 8,878 | ||||||
GO, 5.00%, 09/01/2034 | 4,000 | 4,473 | ||||||
GO, 5.00%, 10/01/2034 | 700 | 780 | ||||||
GO, 5.00%, 10/01/2047 | 1,500 | 1,523 | ||||||
Series CU, GO, 5.50%, 12/01/2052 | 250 | 271 | ||||||
State of California, Taxable Bidding Group A, GO, 1.75%, 10/01/2028 | 5,000 | 4,262 | ||||||
State of California, Taxable Group B, GO, 5.50%, 10/01/2025 | 9,000 | 9,031 | ||||||
State of California, Various Purpose, |
||||||||
GO, 4.00%, 09/01/2031 | 1,000 | 1,006 | ||||||
GO, 4.00%, 11/01/2033 | 3,550 | 3,580 | ||||||
GO, 4.00%, 10/01/2035 | 2,825 | 2,851 | ||||||
GO, 4.00%, 10/01/2036 | 8,850 | 8,718 | ||||||
GO, 5.00%, 10/01/2029 | 1,000 | 1,080 | ||||||
GO, 5.00%, 04/01/2031 | 1,000 | 1,096 | ||||||
GO, 5.00%, 03/01/2034 | 2,180 | 2,347 | ||||||
GO, 5.00%, 03/01/2035 | 505 | 542 | ||||||
GO, 5.00%, 04/01/2035 | 1,000 | 1,063 | ||||||
State of California, Veterans Bonds, GO, 5.00%, 12/01/2031 | 5,500 | 5,571 | ||||||
Tobacco Securitization Authority of Southern California, San Diego County Tobacco Asset Securitization, | ||||||||
Rev., 5.00%, 06/01/2027 | 750 | 777 | ||||||
Rev., 5.00%, 06/01/2028 | 750 | 785 | ||||||
University of California, |
||||||||
Series AR, Rev., 5.00%, 05/15/2041 | 2,000 | 2,035 | ||||||
Series BM, Rev., 5.00%, 05/15/2029 | 5,000 | 5,475 | ||||||
Series BN, Rev., 5.00%, 05/15/2037 | 1,000 | 1,105 | ||||||
Series BN, Rev., 5.00%, 05/15/2038 | 5,000 | 5,457 | ||||||
Series S, Rev., 5.00%, 05/15/2031 | 1,500 | 1,673 | ||||||
University of California, Limited Project, |
||||||||
Series K, Rev., 5.00%, 05/15/2035 | 1,980 | 2,043 | ||||||
Series M, Rev., 4.00%, 05/15/2047 | 1,300 | 1,185 | ||||||
Series M, Rev., 5.00%, 05/15/2034 | 1,500 | 1,573 | ||||||
University of California, Limited Project Revenue Bonds, Series Q, Rev., 5.00%, 05/15/2032 | 350 | 390 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
California continued | ||||||||
Upper Santa Clara Valley Joint Powers Authority, |
||||||||
Series A, Rev., 4.00%, 08/01/2045 | 1,500 | 1,352 | ||||||
Series A, Rev., 4.00%, 08/01/2050 | 2,000 | 1,765 | ||||||
Victor Valley Union High School District, Series B, GO, AGM, 4.00%, 08/01/2036 | 1,270 | 1,211 | ||||||
West Contra Costa Healthcare District, Special Tax, 5.00%, 07/01/2027 | 805 | 845 | ||||||
William S Hart Union High School District, Capital Appreciation Election 2001, Series B, GO, AGM, Zero Coupon, 09/01/2025 | 1,960 | 1,813 | ||||||
|
|
|||||||
590,494 | ||||||||
|
|
|||||||
Colorado 3.4% |
||||||||
Adams & Weld Counties School District No. 27J Brighton, GO, 5.00%, 12/01/2042 | 1,000 | 1,021 | ||||||
Aerotropolis Regional Transportation Authority, Rev., 4.25%, 12/01/2041 | 500 | 389 | ||||||
Alpine Mountain Ranch Metropolitan District Special Improvement District No. 1, Special Assessment, 4.00%, 12/01/2040 | 500 | 418 | ||||||
Arapahoe County School District No. 6 Littleton, GO, 5.00%, 12/01/2023 | 670 | 671 | ||||||
Board of Water Commissioners City & County of Denver, Green Bond, Series A, Rev., 4.00%, 09/15/2042 | 2,180 | 1,975 | ||||||
Brighton Crossing Metropolitan District No. 6, Series A, GO, 5.00%, 12/01/2035 | 525 | 477 | ||||||
Castle Oaks Metropolitan District No. 3, GO, AGM, 4.00%, 12/01/2026 | 220 | 220 | ||||||
Centerra Metropolitan District No. 1, Rev., 6.50%, 12/01/2053 | 500 | 478 | ||||||
City & County of Denver Airport System Revenue, |
||||||||
Series A, Rev., AMT, 4.00%, 11/15/2041 | 3,000 | 2,691 | ||||||
Series A, Rev., AMT, 5.00%, 11/15/2027 | 3,000 | 3,090 | ||||||
Series A, Rev., AMT, 5.00%, 11/15/2029 | 1,000 | 1,044 | ||||||
Series A, Rev., AMT, 5.00%, 12/01/2030 | 3,000 | 3,125 | ||||||
Series A, Rev., AMT, 5.00%, 11/15/2047 | 5,000 | 4,978 | ||||||
Series A, Rev., AMT, 5.50%, 11/15/2053 | 4,000 | 4,137 | ||||||
Series B2, Rev., AMT, 5.00%, 11/15/2031 (z) | 1,000 | 1,009 | ||||||
Series B, Rev., 5.25%, 11/15/2053 | 4,775 | 4,998 | ||||||
Series D, Rev., AMT, 5.75%, 11/15/2040 | 4,750 | 5,133 | ||||||
Series D, Rev., AMT, 5.75%, 11/15/2041 | 3,000 | 3,231 | ||||||
Series D, Rev., AMT, 5.75%, 11/15/2045 | 11,050 | 11,786 | ||||||
City & County of Denver, Airport System Revenue, Subordinated, |
||||||||
Series A, Rev., AMT, 5.00%, 12/01/2027 | 5,840 | 5,983 | ||||||
Series A, Rev., AMT, 5.00%, 12/01/2034 | 2,510 | 2,562 | ||||||
Series A, Rev., AMT, 5.00%, 12/01/2043 | 3,000 | 2,988 | ||||||
City & County of Denver Dedicated Excise Tax Revenue, Series A, Rev., 4.00%, 08/01/2051 | 9,925 | 8,423 | ||||||
Colorado Bridge Enterprise, Central 70 Project, |
||||||||
Rev., AMT, 4.00%, 12/31/2025 | 1,000 | 984 | ||||||
Rev., AMT, 4.00%, 12/31/2030 | 1,505 | 1,426 | ||||||
Colorado Educational & Cultural Facilities Authority, Aspen View Academy Project, |
||||||||
Rev., 4.00%, 05/01/2036 | 175 | 153 | ||||||
Rev., 4.00%, 05/01/2041 | 175 | 141 | ||||||
Colorado Health Facilities Authority, AdventHealth Obligated Group, |
||||||||
Rev., 3.00%, 11/15/2051 | 9,790 | 6,510 | ||||||
Rev., 4.00%, 11/15/2038 | 2,000 | 1,878 | ||||||
Rev., 5.00%, 11/15/2038 | 1,000 | 1,043 | ||||||
Colorado Health Facilities Authority, Adventist Health System, Rev., 5.00%, 11/15/2036 (z) | 1,295 | 1,329 | ||||||
Colorado Health Facilities Authority, Childrens Hospital, Series C, Rev., 5.00%, 12/01/2030 | 1,000 | 1,024 | ||||||
Colorado Health Facilities Authority, Childrens Hospital Co. Project, Series A, Rev., 5.00%, 12/01/2033 | 3,765 | 3,767 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Colorado continued | ||||||||
Colorado Health Facilities Authority, Commonspirit Health, |
||||||||
Rev., 5.25%, 11/01/2052 | 2,000 | 1,957 | ||||||
Series A1, Rev., 5.00%, 08/01/2027 | 1,025 | 1,050 | ||||||
Series A1, Rev., 5.00%, 08/01/2034 | 1,240 | 1,276 | ||||||
Series A2, Rev., 5.00%, 08/01/2028 | 2,215 | 2,287 | ||||||
Series A2, Rev., 5.00%, 08/01/2044 | 18,440 | 17,931 | ||||||
Colorado Health Facilities Authority, Floaters, Series 2015-XF2195, Rev., VRDO, LIQ: Morgan Stanley Bank NA, 4.12%, 10/06/2023 (e) (z) | 5,000 | 5,000 | ||||||
Colorado Health Facilities Authority, Improvement Bonds Christian Living Communities, Rev., 4.00%, 01/01/2042 | 500 | 386 | ||||||
Colorado Health Facilities Authority, Sanford Health, Series A, Rev., 4.00%, 11/01/2039 | 1,020 | 925 | ||||||
Colorado Health Facilities Authority, SCL Health System, Series A, Rev., 5.00%, 01/01/2030 | 1,175 | 1,261 | ||||||
Colorado Housing and Finance Authority, Series H, Rev., GNMA COLL, 3.00%, 05/01/2050 | 1,890 | 1,807 | ||||||
Colorado Housing and Finance Authority, Social Bonds, |
||||||||
Series E, Rev., GNMA, 3.00%, 11/01/2051 | 2,780 | 2,626 | ||||||
Series H, Rev., GNMA, 3.00%, 11/01/2051 | 1,225 | 1,151 | ||||||
Series I, Rev., GNMA COLL, 6.00%, 05/01/2053 | 1,380 | 1,458 | ||||||
Series L, Rev., GNMA COLL, 3.25%, 11/01/2051 | 1,565 | 1,481 | ||||||
Colorado Housing and Finance Authority, Wintergreen Ridge Apartments Project, Rev., 4.00%, 05/01/2041 (z) | 80 | 79 | ||||||
Copperleaf Metropolitan District No. 2, |
||||||||
GO, BAM, 4.00%, 12/01/2023 | 305 | 305 | ||||||
GO, BAM, 4.00%, 12/01/2025 | 470 | 470 | ||||||
Crystal Valley, Metropolitan District No. 2, |
||||||||
Series A, GO, AGM, 5.00%, 12/01/2028 | 500 | 531 | ||||||
Series A, GO, AGM, 5.00%, 12/01/2030 | 360 | 389 | ||||||
Denver City & County, School District No. 1, GO, 5.00%, 12/01/2029 | 1,000 | 1,037 | ||||||
Denver Convention Center Hotel Authority, Senior, Rev., 5.00%, 12/01/2036 | 1,320 | 1,273 | ||||||
Denver Urban Renewal Authority, Senior Subordinated Stapleton, Series B, Tax Allocation, 5.00%, 12/01/2025 | 500 | 511 | ||||||
E-470 Public Highway Authority, Series B, Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 09/01/2039 (aa) | 1,485 | 1,480 | ||||||
E-470 Public Highway Authority, Capital Appreciation, Series A, Rev., NATL, Zero Coupon, 09/01/2027 | 1,250 | 1,061 | ||||||
E-470 Public Highway Authority, Capital Appreciation School Reform, Series B, Rev., NATL, Zero Coupon, 09/01/2030 | 290 | 215 | ||||||
E-470 Public Highway Authority, Senior, |
||||||||
Series A, Rev., 5.00%, 09/01/2027 | 1,000 | 1,047 | ||||||
Series A, Rev., 5.00%, 09/01/2028 | 1,000 | 1,059 | ||||||
Series A, Rev., 5.00%, 09/01/2040 | 2,775 | 2,783 | ||||||
Falcon Area Water & Wastewater Authority, Series A, Rev., 6.75%, 12/01/2034 (e) | 3,000 | 2,820 | ||||||
Garfield Pitkin & Eagle Counties School District No. RE-1 Roaring Fork, GO, 4.00%, 12/15/2034 (p) | 2,000 | 2,016 | ||||||
Jefferson Center Metropolitan District No. 1, |
||||||||
Series A2, Rev., 4.13%, 12/01/2040 | 575 | 465 | ||||||
Series A2, Rev., 4.38%, 12/01/2047 | 795 | 615 | ||||||
Jefferson County School District, Series R1, GO, 5.00%, 12/15/2031 | 2,000 | 2,126 | ||||||
Jefferson County School District No. R-1, GO, 4.00%, 12/15/2032 | 1,500 | 1,531 | ||||||
Peak Metropolitan District No. 3, GO, 0.00%, 12/01/2042 | 3,950 | 2,188 | ||||||
Public Authority for Colorado Energy, Rev., 6.50%, 11/15/2038 | 6,000 | 6,787 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Colorado continued | ||||||||
Pueblo Urban Renewal Authority, EVRAZ Project Tax Increment, Tax Allocation, 4.75%, 12/01/2045 (e) | 635 | 432 | ||||||
Regional Transportation District Sales Tax Revenue, Fastracks Project, Series A, Rev., 5.00%, 11/01/2033 | 1,000 | 1,115 | ||||||
Regional Transportation District, Denver Transit Partners Eagle, |
||||||||
Series A, Rev., 5.00%, 07/15/2026 | 575 | 585 | ||||||
Series A, Rev., 5.00%, 01/15/2027 | 1,000 | 1,022 | ||||||
Series A, Rev., 5.00%, 01/15/2032 | 1,470 | 1,534 | ||||||
Siena Lake Metropolitan District, GO, 3.75%, 12/01/2041 | 500 | 358 | ||||||
South Suburban Park & Recreation District, COP, 4.00%, 12/15/2036 | 1,350 | 1,282 | ||||||
Spring Valley Metropolitan District No. 3, Series A, GO, 5.00%, 12/01/2049 | 1,360 | 1,155 | ||||||
State of Colorado, |
||||||||
COP, 6.00%, 12/15/2041 | 15,000 | 16,941 | ||||||
Series A, COP, 5.00%, 12/15/2029 | 1,000 | 1,075 | ||||||
Series L, COP, 5.00%, 03/15/2028 | 1,000 | 1,055 | ||||||
Sterling Ranch Metropolitan District No. 1, GO, 5.00%, 12/01/2040 | 500 | 444 | ||||||
University of Colorado, Series B1, Rev., 4.00%, 06/01/2034 (p) | 4,000 | 4,037 | ||||||
University of Colorado, University Enterprise, |
||||||||
Rev., 2.00%, 06/01/2051 (z) | 4,000 | 3,775 | ||||||
Verve Metropolitan District No. 1, GO, 5.00%, 12/01/2036 | 1,500 | 1,208 | ||||||
Village Metropolitan District (The), GO, 4.15%, 12/01/2030 | 460 | 424 | ||||||
Villages at Johnstown Metropolitan District No. 3, Senior Bond, Series A, GO, 5.00%, 12/01/2040 | 585 | 516 | ||||||
Weld County School District No. RE-4, |
||||||||
GO, 5.00%, 12/01/2029 | 1,100 | 1,190 | ||||||
GO, 5.00%, 12/01/2031 | 1,000 | 1,103 | ||||||
GO, 5.25%, 12/01/2047 | 5,000 | 5,254 | ||||||
Windler Public Improvement Authority, Series A1, Rev., 4.00%, 12/01/2036 | 2,565 | 1,860 | ||||||
Windy Gap Firming Project Water Activity Enterprise, Windy Gap Firming Project, Rev., 5.00%, 07/15/2051 | 5,000 | 5,089 | ||||||
|
|
|||||||
211,920 | ||||||||
|
|
|||||||
Connecticut 1.3% |
||||||||
City of Bridgeport, Series A, GO, 4.00%, 06/01/2039 | 250 | 225 | ||||||
Connecticut Housing Finance Authority, Social Bonds, |
||||||||
Series A1, Rev., 3.50%, 11/15/2051 | 65 | 62 | ||||||
Series B, Rev., 4.50%, 11/15/2043 | 2,725 | 2,556 | ||||||
Connecticut State Health & Educational Facilities Authority, |
||||||||
Series 2017 B1, Rev., 5.00%, 07/01/2029 | 4,845 | 5,257 | ||||||
Series A, Rev., 2.80%, 07/01/2048 (z) | 2,000 | 1,927 | ||||||
Connecticut State Health & Educational Facilities Authority, Connecticut Childrens Medical Center, Rev., 5.25%, 07/15/2048 | 4,575 | 4,673 | ||||||
Connecticut State Health & Educational Facilities Authority, Hartford Healthcare Project, |
||||||||
Series A, Rev., 5.00%, 07/01/2026 | 555 | 566 | ||||||
Series A, Rev., 5.00%, 07/01/2033 | 565 | 585 | ||||||
Connecticut State Health & Educational Facilities Authority, Quinnipiac University Issue, Rev., 5.00%, 07/01/2048 | 3,000 | 2,971 | ||||||
Connecticut State Health & Educational Facilities Authority, Stamford Hospital Issue, |
||||||||
Rev., 4.00%, 07/01/2035 | 1,000 | 922 | ||||||
Rev., 4.00%, 07/01/2038 | 2,500 | 2,236 | ||||||
Rev., 4.00%, 07/01/2041 | 2,250 | 1,941 | ||||||
Rev., 5.00%, 07/01/2024 | 175 | 176 | ||||||
Rev., 5.00%, 07/01/2030 | 865 | 894 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Connecticut continued | ||||||||
Connecticut State Health & Educational Facilities Authority, Yale New Haven, Series B, Rev., 1.80%, 07/01/2049 (z) | 4,000 | 3,907 | ||||||
Connecticut State Higher Education Supplement Loan Authority, CHESLA Loan Program, Series B, Rev., AMT, 5.00%, 11/15/2030 | 500 | 512 | ||||||
Connecticut State, Health & Educational Facilities Authority, Sacred Heart University, |
||||||||
Series K, Rev., 4.00%, 07/01/2045 | 750 | 643 | ||||||
Series K, Rev., 5.00%, 07/01/2037 | 950 | 985 | ||||||
Connecticut State, Health & Educational Facilities Authority, Yale University, Series C1, Rev., 5.00%, 07/01/2040 (z) | 3,220 | 3,424 | ||||||
State of Connecticut, |
||||||||
Series 2021A, GO, 3.00%, 01/15/2026 | 5,000 | 4,846 | ||||||
Series 2021A, GO, 3.00%, 01/15/2032 | 2,250 | 2,010 | ||||||
Series 2021A, GO, 3.00%, 01/15/2033 | 500 | 442 | ||||||
Series 2021A, GO, 4.00%, 01/15/2028 | 3,500 | 3,556 | ||||||
Series A, GO, 4.00%, 03/15/2032 | 850 | 841 | ||||||
Series B, GO, 5.00%, 08/01/2033 | 1,750 | 1,933 | ||||||
Series C, GO, 5.00%, 06/15/2037 | 40 | 43 | ||||||
State of Connecticut Special Tax Revenue, |
||||||||
Series A, Rev., 5.00%, 07/01/2028 | 500 | 532 | ||||||
Series A, Rev., 5.00%, 05/01/2035 | 500 | 539 | ||||||
Series A, Rev., 5.25%, 07/01/2042 | 10,000 | 10,619 | ||||||
Series D, Rev., 4.00%, 11/01/2038 | 3,500 | 3,324 | ||||||
Series D, Rev., 5.00%, 11/01/2028 | 1,480 | 1,581 | ||||||
Series D, Rev., 5.00%, 11/01/2033 | 1,675 | 1,822 | ||||||
Series D, Rev., 5.00%, 11/01/2036 | 1,500 | 1,602 | ||||||
State of Connecticut, Social Bonds, |
||||||||
Series B, GO, 4.00%, 01/15/2038 | 500 | 475 | ||||||
Series F, GO, 5.00%, 11/15/2041 | 1,525 | 1,598 | ||||||
State of Connecticut, Special Tax Obligation Bonds, Rev., 5.00%, 05/01/2040 | 300 | 312 | ||||||
State of Connecticut, Special Tax Revenue, Transportation Infrastructure, Series A, Rev., 5.00%, 09/01/2031 | 1,220 | 1,228 | ||||||
Steel Point Infrastructure Improvement District, Steelpointe Harbor Project, Tax Allocation, 4.00%, 04/01/2036 (e) | 195 | 168 | ||||||
Town of Hamden, |
||||||||
GO, BAM, 4.00%, 08/15/2027 | 535 | 529 | ||||||
GO, BAM, 5.00%, 08/15/2029 | 575 | 606 | ||||||
GO, BAM, 5.00%, 08/15/2031 | 500 | 533 | ||||||
Series A, GO, BAM, 5.00%, 08/01/2032 | 2,255 | 2,376 | ||||||
University of Connecticut, |
||||||||
Series A, Rev., 5.00%, 02/15/2025 | 1,200 | 1,218 | ||||||
Series A, Rev., 5.00%, 08/15/2026 | 1,400 | 1,401 | ||||||
Series A, Rev., 5.00%, 01/15/2037 | 3,000 | 3,067 | ||||||
|
|
|||||||
81,663 | ||||||||
|
|
|||||||
Delaware 0.4% |
||||||||
Delaware State Economic Development Authority, NRG Energy Project, Rev., 1.25%, 10/01/2045 (z) | 4,065 | 3,694 | ||||||
Delaware State Health Facilities Authority, Christiana Health Care System, Rev., 5.00%, 10/01/2039 | 5,345 | 5,450 | ||||||
Delaware Transportation Authority, |
||||||||
Rev., 5.00%, 07/01/2027 | 1,000 | 1,052 | ||||||
Rev., 5.00%, 07/01/2033 | 2,265 | 2,467 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Delaware continued |
||||||||
Delaware Transportation Authority, Garvee, Rev., 5.00%, 09/01/2025 | 1,000 | 1,022 | ||||||
State of Delaware, |
||||||||
GO, 4.00%, 02/01/2031 | 1,000 | 1,014 | ||||||
GO, 5.00%, 02/01/2028 | 6,520 | 6,928 | ||||||
GO, 5.00%, 02/01/2031 | 85 | 93 | ||||||
Series A, GO, 5.00%, 10/01/2024 | 1,500 | 1,518 | ||||||
|
|
|||||||
23,238 | ||||||||
|
|
|||||||
District of Columbia 1.6% |
||||||||
District of Columbia, |
||||||||
Rev., 5.00%, 06/01/2040 | 1,725 | 1,529 | ||||||
Series A, Rev., 4.00%, 03/01/2037 | 2,000 | 1,953 | ||||||
Series A, Rev., 4.00%, 03/01/2040 | 10,000 | 9,262 | ||||||
Series A, GO, 5.00%, 01/01/2027 | 475 | 495 | ||||||
Series A, Rev., 5.00%, 03/01/2031 | 1,500 | 1,611 | ||||||
Series A, GO, 5.00%, 01/01/2038 | 1,000 | 1,079 | ||||||
Series A, GO, 5.00%, 01/01/2040 | 2,400 | 2,556 | ||||||
Series B, GO, 5.00%, 06/01/2025 | 1,000 | 1,021 | ||||||
Series C, Rev., 4.00%, 05/01/2039 | 2,500 | 2,340 | ||||||
Series C, Rev., 4.00%, 05/01/2045 | 5,000 | 4,451 | ||||||
Series D, GO, 5.00%, 02/01/2028 | 820 | 870 | ||||||
Series D, GO, 5.00%, 02/01/2029 | 70 | 75 | ||||||
Series D, GO, 5.00%, 02/01/2034 | 5,000 | 5,458 | ||||||
Series E, GO, 5.00%, 06/01/2025 | 2,000 | 2,042 | ||||||
Series E, GO, 5.00%, 02/01/2028 | 110 | 117 | ||||||
District of Columbia Housing Finance Agency, Kenilworth 166 Apartments, Rev., HUD, 1.25%, 06/01/2025 (z) | 3,225 | 3,094 | ||||||
District of Columbia Water & Sewer Authority, Green Bond Subordinate, Series A, Rev., 5.00%, 10/01/2038 | 1,010 | 1,056 | ||||||
District of Columbia Water & Sewer Authority, Subordinate, Series C1, Rev., 5.00%, 10/01/2031 | 2,000 | 2,215 | ||||||
District of Columbia, Latin American Montessori, Rev., 4.00%, 06/01/2030 | 745 | 695 | ||||||
District of Columbia, National Public Radio, |
||||||||
Rev., 4.00%, 04/01/2032 (p) | 1,500 | 1,512 | ||||||
Rev., 5.00%, 04/01/2028 (p) | 270 | 279 | ||||||
Rev., 5.00%, 04/01/2029 (p) | 275 | 284 | ||||||
Metropolitan Washington Airports Authority, |
||||||||
Rev., AMT, 5.00%, 10/01/2026 | 1,335 | 1,361 | ||||||
Rev., AMT, 5.00%, 10/01/2029 | 2,000 | 2,045 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2027 | 1,000 | 1,029 | ||||||
Metropolitan Washington Airports Authority Aviation Revenue, |
||||||||
Rev., AMT, 5.00%, 10/01/2027 | 1,000 | 1,029 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2023 | 85 | 85 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2025 | 450 | 456 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2028 | 2,880 | 2,986 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2030 | 1,000 | 1,046 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2032 | 5,000 | 5,245 | ||||||
Series A, Rev., NATL, AMT, 5.00%, 10/01/2034 | 8,000 | 7,943 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2044 | 3,890 | 3,873 | ||||||
Series A, Rev., AMT, 5.25%, 10/01/2039 | 1,135 | 1,187 | ||||||
Metropolitan Washington Airports Authority Aviation Revenue, Airport System, Series A, Rev., AMT, 5.00%, 10/01/2033 | 3,000 | 3,087 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
District of Columbia continued |
||||||||
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Series B, Rev., 4.00%, 10/01/2049 | 1,000 | 838 | ||||||
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Dulles Metrorail & Capital, Rev., AGM, 4.00%, 10/01/2052 | 5,000 | 4,305 | ||||||
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Subordinated Dulles Metrorail, Rev., AGM, 4.00%, 10/01/2053 | 1,965 | 1,695 | ||||||
Metropolitan Washington Airports Authority, Dulles Toll Road Revenue, Second Lien, Series C, Rev., AGC, 6.50%, 10/01/2041 (p) | 350 | 378 | ||||||
Washington Convention & Sports Authority, |
||||||||
Series A, Rev., 4.00%, 10/01/2034 | 1,015 | 1,001 | ||||||
Series A, Rev., 5.00%, 10/01/2033 | 1,000 | 1,066 | ||||||
Washington Convention & Sports Authority, Senior Lien, |
||||||||
Series B, Tax Allocation, 5.00%, 10/01/2029 | 1,000 | 1,065 | ||||||
Series B, Tax Allocation, 5.00%, 10/01/2030 | 1,500 | 1,604 | ||||||
Washington Metropolitan Area Transit Authority, |
||||||||
Series A, Rev., 5.00%, 07/15/2026 | 1,650 | 1,704 | ||||||
Series A, Rev., 5.00%, 07/15/2037 | 2,000 | 2,108 | ||||||
Washington Metropolitan Area Transit Authority Dedicated Revenue, Series A, Rev., 5.00%, 07/15/2025 | 1,990 | 2,031 | ||||||
Washington Metropolitan Area Transit Authority Dedicated Revenue, Sustainability Financed Bond, Rev., 5.00%, 07/15/2029 | 3,000 | 3,211 | ||||||
Washington Metropolitan Area Transit Authority, Green Bond, Series A, Rev., 5.00%, 07/15/2029 | 1,540 | 1,648 | ||||||
|
|
|||||||
98,020 | ||||||||
|
|
|||||||
Florida 5.1% |
||||||||
Alachua County Health Facilities Authority, Oak Hammock at The University of Florida, Inc. Project, Rev., 4.00%, 10/01/2031 | 615 | 553 | ||||||
Alachua County Health Facilities Authority, Shands Teaching Hospital & Clinics, Rev., 5.00%, 12/01/2034 | 2,570 | 2,623 | ||||||
Ave Maria Stewardship Community District, Phase 3 Master Improvements Project, |
||||||||
Special Assessment, 2.75%, 05/01/2031 | 420 | 359 | ||||||
Special Assessment, 3.13%, 05/01/2041 | 1,775 | 1,251 | ||||||
Belmond Reserve Community Development District, 202 Project, Special Assessment, 4.00%, 05/01/2040 | 345 | 282 | ||||||
Belmont II Community Development District, 2020 Assessment Area, |
||||||||
Special Assessment, 2.50%, 12/15/2025 | 15 | 14 | ||||||
Special Assessment, 3.13%, 12/15/2030 | 125 | 112 | ||||||
Boggy Branch Community Development District, Special Assessment, 2.50%, 05/01/2026 | 195 | 183 | ||||||
Brevard County Health Facilities Authority, Health First, Inc., Rev., 5.00%, 04/01/2025 | 1,600 | 1,603 | ||||||
Broward County Housing Finance Authority, Pinnacle 441 Phase 2, Rev., 4.05%, 09/01/2056 (z) | 990 | 979 | ||||||
Broward County Housing Finance Authority, Solaris Apartments, Series B, Rev., 0.70%, 01/01/2025 (z) | 1,470 | 1,420 | ||||||
Broward County Water & Sewer Utility Revenue, Series A, Rev., 4.00%, 10/01/2038 | 675 | 637 | ||||||
Capital Projects Finance Authority, Florida University Project, Series A1, Rev., 5.00%, 10/01/2032 | 1,350 | 1,365 | ||||||
Capital Trust Agency, Inc., Imagine School at North Manatee, Rev., 5.00%, 06/01/2041 (e) | 325 | 280 | ||||||
Capital Trust Agency, Inc., Lutz Preparatory School, Inc. Project, Series A, Rev., 4.00%, 06/01/2041 | 300 | 253 | ||||||
Capital Trust Agency, Inc., Tallahassee Classical School, Rev., 4.00%, 07/01/2036 (e) | 1,370 | 1,058 | ||||||
Central Florida Expressway Authority, |
||||||||
Series D, Rev., 5.00%, 07/01/2029 | 565 | 603 | ||||||
Series D, Rev., AGM, 5.00%, 07/01/2034 | 3,000 | 3,261 | ||||||
Series D, Rev., AGM, 5.00%, 07/01/2035 | 10,000 | 10,740 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Florida continued | ||||||||
Central Florida Expressway Authority, Senior Lien, |
||||||||
Rev., AGM, 4.00%, 07/01/2038 | 3,625 | 3,411 | ||||||
Rev., AGM, 4.00%, 07/01/2039 | 1,260 | 1,171 | ||||||
Centre Lake Community Development District, Special Assessment, 3.00%, 05/01/2042 | 605 | 424 | ||||||
Chapel Creek Community Development District, Special Assessment, 3.00%, 05/01/2031 (e) | 245 | 209 | ||||||
City of Jacksonville, Series A, Rev., 5.00%, 10/01/2034 | 1,250 | 1,343 | ||||||
City of Jacksonville, Brooks Rehabilitation Project, |
||||||||
Rev., 4.00%, 11/01/2034 | 500 | 458 | ||||||
Rev., 4.00%, 11/01/2045 | 1,500 | 1,201 | ||||||
City of Miami Beach, Arts and Cultural Facilities, Series A, GO, 5.25%, 05/01/2053 | 5,000 | 5,134 | ||||||
City of Pompano Beach, John Knox Village Project, Series A, Rev., 4.00%, 09/01/2036 | 175 | 148 | ||||||
City of Port St. Lucie Stormwater Utility Revenue, Rev., 4.00%, 05/01/2039 | 1,075 | 989 | ||||||
City of Tallahassee, Energy System Revenue, Rev., 5.00%, 10/01/2028 | 2,000 | 2,121 | ||||||
City of Tampa, Baycare, Series A, Rev., 5.00%, 11/15/2046 | 4,000 | 3,940 | ||||||
Collier County Health Facilities Authority, The Moorings, Inc., Rev., 4.00%, 05/01/2052 | 145 | 112 | ||||||
County of Broward Port Facilities Revenue, Rev., AMT, 5.50%, 09/01/2052 | 3,675 | 3,762 | ||||||
County of Broward Tourist Development Tax Revenue, Convention Center Expansion Project, Rev., 5.00%, 09/01/2031 | 3,000 | 3,219 | ||||||
County of Broward, Airport System Revenue, |
||||||||
Rev., AMT, 5.00%, 10/01/2033 | 655 | 667 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2028 | 800 | 825 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2036 | 2,000 | 2,030 | ||||||
County of Broward, Port Facilities Revenue, Senior Bond, Series B, Rev., AMT, 4.00%, 09/01/2044 | 3,000 | 2,596 | ||||||
County of Broward, Tourist Development Tax Revenue, Convention Center Expansion Project, Rev., 4.00%, 09/01/2047 | 3,000 | 2,568 | ||||||
County of Hillsborough, Rev., 4.00%, 08/01/2034 | 4,370 | 4,445 | ||||||
County of Lee Airport Revenue, |
||||||||
Series B, Rev., AMT, 5.00%, 10/01/2029 | 180 | 186 | ||||||
Series B, Rev., AMT, 5.00%, 10/01/2032 | 2,000 | 2,081 | ||||||
County of Lee Local Option Gas Tax Revenue, Rev., 5.25%, 08/01/2049 | 13,000 | 13,261 | ||||||
County of Miami-Dade Aviation Revenue, |
||||||||
Rev., AMT, 5.00%, 10/01/2028 | 7,000 | 6,992 | ||||||
Rev., 5.00%, 10/01/2041 | 6,000 | 5,984 | ||||||
Series A, Rev., 5.00%, 10/01/2025 | 1,250 | 1,274 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2027 | 1,325 | 1,324 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2030 | 2,000 | 2,010 | ||||||
Series A, Rev., 5.00%, 10/01/2031 | 2,000 | 2,135 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2044 | 2,200 | 2,160 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2049 | 3,250 | 3,186 | ||||||
Series B, Rev., AMT, 5.00%, 10/01/2040 | 7,000 | 6,935 | ||||||
County of Miami-Dade Seaport Department, Senior Bonds, |
||||||||
Series A, Rev., AMT, 5.00%, 10/01/2030 | 1,970 | 2,044 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2031 | 2,975 | 3,111 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2033 | 3,500 | 3,659 | ||||||
Series A, Rev., AMT, 5.25%, 10/01/2052 | 2,000 | 1,986 | ||||||
County of Miami-Dade Seaport Department, Subordinate, Series A1, Rev., AGM, AMT, 4.00%, 10/01/2040 | 2,675 | 2,430 | ||||||
County of Miami-Dade Transit System, Rev., 4.00%, 07/01/2048 | 5,000 | 4,347 | ||||||
County of Miami-Dade, Building Better Communities Project, Series A, GO, 4.00%, 07/01/2044 | 350 | 312 | ||||||
County of Miami-Dade, Public Health Trust Program, GO, 4.00%, 07/01/2042 | 3,000 | 2,720 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Florida continued | ||||||||
County of Miami-Dade, Water & Sewer System Revenue, |
||||||||
Series B, Rev., 5.00%, 10/01/2031 | 500 | 507 | ||||||
Series B, Rev., 5.00%, 10/01/2033 | 1,000 | 1,013 | ||||||
County of Monroe Airport Revenue, Key West International Airport, Series 202, Rev., AMT, 5.00%, 10/01/2052 | 2,450 | 2,184 | ||||||
County of Orange Water Utility System Revenue, Rev., 5.00%, 10/01/2028 | 2,040 | 2,187 | ||||||
Cypress Mill Community Development District, 2023 Project, Special Assessment, 5.00%, 05/01/2053 | 1,025 | 891 | ||||||
Daytona Beach Housing Authority, The WM at River Project, Rev., 1.25%, 12/01/2025 (z) | 115 | 110 | ||||||
DG Farms Community Development District, Special Assessment, 3.75%, 05/01/2040 | 400 | 313 | ||||||
Duval County Public Schools, Series A, COP, AGM, 5.00%, 07/01/2032 | 4,750 | 5,058 | ||||||
Eden Hills Community Development District, Special Assessment, 4.00%, 05/01/2040 | 300 | 258 | ||||||
Epperson North Community Development District, Assessment Area, Special Assessment, 2.50%, 05/01/2026 | 135 | 127 | ||||||
Florida Development Finance Corp., Series A, Rev., 4.00%, 06/01/2030 | 500 | 452 | ||||||
Florida Development Finance Corp., Brightline Florida Passenger, Rev., AMT, 0.00%, 07/01/2057 (e) | 8,500 | 8,415 | ||||||
Florida Development Finance Corp., Brightline Florida Passenger Rail, Series B, Rev., AMT, 7.38%, 01/01/2049 (e) | 9,500 | 9,420 | ||||||
Florida Development Finance Corp., Brightline Passenger Rail, Rev., AMT, 7.50%, 07/01/2057 (e) | 6,500 | 6,380 | ||||||
Florida Development Finance Corp., Brighton, Florida Passenger Rail, Rev., AMT, 7.25%, 07/01/2057 (e) | 8,000 | 8,320 | ||||||
Florida Development Finance Corp., Discovery High School Project, Series A, Rev., 4.00%, 06/01/2030 (e) | 1,400 | 1,264 | ||||||
Florida Development Finance Corp., Lakeland Regional Health System, Rev., 4.00%, 11/15/2037 | 2,400 | 2,127 | ||||||
Florida Development Finance Corp., Mater Academy Project, Series A, Rev., 5.00%, 06/15/2040 | 400 | 380 | ||||||
Florida Development Finance Corp., UF Health Jacksonville Project, Rev., 5.00%, 02/01/2035 | 1,200 | 1,134 | ||||||
Florida Development Finance Corp., Virgin Trains USA Passenger, |
||||||||
Series A, Rev., AMT, 6.38%, 01/01/2049 (e) (z) | 3,225 | 3,072 | ||||||
Series A, Rev., AMT, 6.50%, 01/01/2049 (e) (z) | 2,475 | 2,350 | ||||||
Florida Housing Finance Corp., |
||||||||
Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052 | 555 | 521 | ||||||
Series 3, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 01/01/2054 | 650 | 680 | ||||||
Florida Housing Finance Corp., Social Bond, Social Bond, Series 1, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052 | 1,300 | 1,230 | ||||||
Florida Housing Finance Corp., Social Bonds, |
||||||||
Series 1, Rev., GNMA/FNMA/FHLMC, 3.50%, 07/01/2052 | 985 | 940 | ||||||
Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051 | 5,910 | 5,609 | ||||||
Florida State Board of Governors Florida International University Dormitory Rev, Series A, Rev., BAM, 5.00%, 07/01/2029 | 1,900 | 2,029 | ||||||
Fort Pierce Utilities Authority, Series A, Rev., AGM, 5.00%, 10/01/2039 | 925 | 955 | ||||||
Greater Orlando Aviation Authority, |
||||||||
Series A, Rev., AMT, 5.00%, 10/01/2026 (p) | 1,785 | 1,808 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2027 (p) | 1,875 | 1,900 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2030 (p) | 1,005 | 1,018 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2032 | 1,500 | 1,544 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Florida continued | ||||||||
Greater Orlando Aviation Authority, Priority Subordinated, |
||||||||
Series A, Rev., AMT, 5.00%, 10/01/2033 | 1,500 | 1,528 | ||||||
Series A, Rev., AMT, 5.00%, 10/01/2036 | 2,230 | 2,249 | ||||||
Hammock Reserve Community Development District, Assessment Area One Project, Special Assessment, 4.00%, 05/01/2040 | 545 | 470 | ||||||
Hillsborough County Aviation Authority, Tampa, Rev., AMT, 5.00%, 10/01/2040 (p) | 750 | 755 | ||||||
Hillsborough County Industrial Development Authority, Tampa General Hospital Project, |
||||||||
Rev., 4.00%, 08/01/2050 | 5,000 | 4,080 | ||||||
Series A, Rev., 4.00%, 08/01/2045 | 3,275 | 2,763 | ||||||
JEA Electric System Revenue, |
||||||||
Series 3A, Rev., 5.00%, 10/01/2035 | 5,000 | 5,298 | ||||||
Series IIIB, Rev., 5.00%, 10/01/2032 | 1,295 | 1,343 | ||||||
JEA Electric System Revenue, Subordinate, Series A, Rev., 5.00%, 10/01/2031 | 1,795 | 1,918 | ||||||
JEA Water & Sewer System Revenue, Series A, Rev., 4.00%, 10/01/2037 | 750 | 714 | ||||||
JEA Water & Sewer System Revenue, Subordinated, Series A, Rev., 5.00%, 10/01/2031 | 885 | 929 | ||||||
Julington Creek Plantation Community Development District, Special Assessment, Special Assessment, AGM, 5.50%, 05/01/2043 | 1,500 | 1,561 | ||||||
Lakewood Ranch Stewardship District, Del Webb Project, Special Assessment, 5.00%, 05/01/2037 (e) | 1,655 | 1,595 | ||||||
Lakewood Ranch Stewardship District, Lorraine Lakes Project, Special Assessment, 3.13%, 05/01/2030 (e) | 315 | 277 | ||||||
Lakewood Ranch Stewardship District, Northeast Sector Project, |
||||||||
Special Assessment, 2.50%, 05/01/2025 (e) | 605 | 582 | ||||||
Special Assessment, 3.20%, 05/01/2030 (e) | 545 | 481 | ||||||
Special Assessment, 3.50%, 05/01/2040 | 925 | 697 | ||||||
Lakewood Ranch Stewardship District, Zario Project, Special Assessment, 2.63%, 05/01/2025 | 285 | 275 | ||||||
Lee County Industrial Development Authority, Shell Point/Waterside Health, |
||||||||
Rev., 5.00%, 11/15/2044 | 3,000 | 2,747 | ||||||
Rev., 5.00%, 11/15/2049 | 2,550 | 2,274 | ||||||
Miami Beach Health Facilities Authority, Mount Sinai Medical Center, |
||||||||
Rev., 5.00%, 11/15/2039 | 2,000 | 1,961 | ||||||
Rev., 5.00%, 11/15/2044 | 5,000 | 4,729 | ||||||
Miami Beach Redevelopment Agency, Tax Increment Revenue, Tax Allocation, 5.00%, 02/01/2028 | 1,000 | 1,002 | ||||||
Miami-Dade County Housing Finance Authority, Cutler Vista, Rev., 5.00%, 03/01/2027 (z) | 2,445 | 2,467 | ||||||
Midtown Miami Community Development District, Series A, Special Assessment, 5.00%, 05/01/2037 | 350 | 327 | ||||||
North Powerline Road Community Development District, Special Assessment, 3.63%, 05/01/2040 | 1,345 | 1,031 | ||||||
Old Hickory Community Development District, Special Assessment, 2.50%, 06/15/2025 | 110 | 106 | ||||||
Orange County Health Facilities Authority, Orlando Health Obligated Group, Rev., 4.00%, 10/01/2052 | 5,000 | 4,096 | ||||||
Orange County Health Facilities Authority, Presbyterian Retirement Communities, Rev., 4.00%, 08/01/2036 | 295 | 260 | ||||||
Orange County Housing Finance Authority, Stratford Point Apartments, Rev., 0.55%, 01/01/2025 (z) | 885 | 854 | ||||||
Orlando Utilities Commission, |
||||||||
Series 2018A, Rev., 5.00%, 10/01/2035 | 2,480 | 2,576 | ||||||
Series A, Rev., 5.00%, 10/01/2027 | 500 | 527 | ||||||
Series A, Rev., 5.00%, 10/01/2028 | 1,125 | 1,202 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Florida continued | ||||||||
Palm Beach County Health Facilities Authority, BRRH Corporation Obligated Group, Rev., 5.00%, 12/01/2024 (p) | 1,910 | 1,933 | ||||||
Palm Beach County Health Facilities Authority, Retirement Life Communities, Rev., 5.00%, 11/15/2032 | 2,270 | 2,281 | ||||||
Palm Beach County Housing Finance Authority, Christian Manor, Rev., 1.25%, 02/15/2025 (z) | 1,985 | 1,956 | ||||||
Parkview at Long Lake Ranch Community Development District, Special Assessment, 4.00%, 05/01/2051 | 800 | 581 | ||||||
Pasco County School Board, Series A, COP, BAM, 5.00%, 08/01/2036 | 1,720 | 1,787 | ||||||
Pine Island Community Development District, Special Assessment, 5.75%, 05/01/2035 | 1,900 | 1,906 | ||||||
Pinellas County Housing Finance Authority, Jordan Park Apartments, Rev., HUD, 0.65%, 01/01/2025 (z) | 1,135 | 1,096 | ||||||
Reunion East Community Development District, |
||||||||
Special Assessment, 2.40%, 05/01/2026 | 75 | 71 | ||||||
Special Assessment, 2.85%, 05/01/2031 | 25 | 21 | ||||||
Saddle Creek Preserve of Polk County Community Development District, Special Assessment, 4.00%, 06/15/2040 | 500 | 408 | ||||||
Sarasota County Health Facilities Authority, Sunnyside Village Project, Rev., 5.00%, 05/15/2048 | 425 | 359 | ||||||
Sarasota County Public Hospital District, Sarasota Memorial Hospital Project, |
||||||||
Rev., 4.00%, 07/01/2052 | 6,000 | 5,210 | ||||||
Rev., 5.00%, 07/01/2052 | 1,175 | 1,179 | ||||||
Sarasota County School Board, Series A, COP, 5.00%, 07/01/2033 | 1,000 | 1,118 | ||||||
Sarasota National Community Development District, Special Assessment, 4.00%, 05/01/2039 | 615 | 515 | ||||||
Sawyers Landing Community Development District, Special Assessment, 3.75%, 05/01/2031 | 400 | 353 | ||||||
School District of Broward County, Series A, COP, 5.00%, 07/01/2027 | 1,500 | 1,568 | ||||||
Somerset Community Development District, Special Assessment, 4.00%, 05/01/2032 | 845 | 773 | ||||||
South Broward Hospital District, Series A, Rev., 4.00%, 05/01/2044 | 2,000 | 1,745 | ||||||
South Kendall Community Development District, Special Assessment, 4.25%, 11/01/2037 | 1,575 | 1,376 | ||||||
St. Johns County School Board, Series A, COP, AGM, 5.25%, 07/01/2047 | 3,000 | 3,124 | ||||||
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.71%, 07/01/2027 | 4,000 | 3,491 | ||||||
State of Florida, Series B, GO, 5.00%, 06/01/2028 | 2,000 | 2,133 | ||||||
State of Florida Department of Transportation, Rev., 5.00%, 07/01/2024 | 430 | 434 | ||||||
State of Florida Department of Transportation Turnpike System Revenue, Series B, Rev., 5.00%, 07/01/2033 | 1,000 | 1,095 | ||||||
State of Florida Department of Transportation Turnpike System Revenue, Turnpike Revenue, Series B, Rev., 3.00%, 07/01/2033 | 2,390 | 2,087 | ||||||
State of Florida Department of Transportation Turnpike System, Revenue Refunding, Series A, Rev., 5.00%, 07/01/2026 | 1,000 | 1,034 | ||||||
State of Florida, Capital Outlay, Series C, GO, 5.00%, 06/01/2027 | 1,060 | 1,093 | ||||||
State of Florida, Department of Transportation, Turnpike System Revenue, Series A, Rev., 5.00%, 07/01/2029 | 500 | 538 | ||||||
Stillwater Community Development District, Project 2021, Special Assessment, 3.00%, 06/15/2031 (e) | 225 | 192 | ||||||
Stoneybrook South Community Development District, Fox South Assessment Area, |
||||||||
Special Assessment, 2.50%, 12/15/2025 (e) | 415 | 394 | ||||||
Special Assessment, 3.00%, 12/15/2030 (e) | 475 | 420 | ||||||
Special Assessment, 3.50%, 12/15/2040 (e) | 1,030 | 814 | ||||||
Storey Park Community Development District, Assessment Area Four Project, |
||||||||
Special Assessment, 2.38%, 06/15/2026 (e) | 30 | 28 | ||||||
Special Assessment, 2.88%, 06/15/2031 (e) | 60 | 52 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Florida continued | ||||||||
Touchstone Community Development District, Senior Lien, Series A1, Special Assessment, 5.38%, 05/01/2042 | 1,000 | 982 | ||||||
Towne Park Community Development District, Assessment Area 3D Project, Special Assessment, 2.63%, 05/01/2025 (e) | 255 | 246 | ||||||
Tradition Community Development District No. 9, Special Assessment, 3.00%, 05/01/2041 | 130 | 89 | ||||||
Village Community Development District No. 13, |
||||||||
Special Assessment, 1.88%, 05/01/2025 (e) | 490 | 469 | ||||||
Special Assessment, 2.63%, 05/01/2030 (e) | 1,460 | 1,286 | ||||||
Villamar Community Development District, Special Assessment, 3.75%, 05/01/2040 | 655 | 510 | ||||||
West Villages Improvement District, Special Assessment, Unit Of Development #8, Special Assessment, 5.38%, 05/01/2042 | 1,875 | 1,783 | ||||||
Wildwood Utility Dependent District, Senior South Sumter Utilities Project, |
||||||||
Rev., BAM, 5.00%, 10/01/2031 | 1,300 | 1,412 | ||||||
Rev., BAM, 5.00%, 10/01/2033 | 1,150 | 1,243 | ||||||
Rev., BAM, 5.00%, 10/01/2039 | 1,490 | 1,535 | ||||||
Rev., BAM, 5.00%, 10/01/2040 | 1,610 | 1,652 | ||||||
Wildwood Utility Dependent District, Senior South Sumter Utility Project, Rev., BAM, 5.00%, 10/01/2052 | 1,640 | 1,644 | ||||||
Wildwood Utility Dependent District, Subordinate South Sumter Utilities Project, Rev., BAM, 5.00%, 10/01/2041 | 650 | 666 | ||||||
|
|
|||||||
321,038 | ||||||||
|
|
|||||||
Georgia 3.7% |
||||||||
Atlanta Urban Residential Finance Authority, Sylvan Senior Apartments, Rev., FHA, 0.41%, 12/01/2025 (z) | 575 | 570 | ||||||
Bartow County Development Authority, Georgia Power Co. Pollution Bowen Project, Rev., 1.80%, 09/01/2029 (z) | 4,425 | 3,606 | ||||||
Board of Water Light & Sinking Fund Commissioners of The City of Dalton, Combined Utilities Revenue Bonds, | ||||||||
Rev., 4.00%, 03/01/2035 | 1,100 | 1,043 | ||||||
Rev., 4.00%, 03/01/2036 | 1,000 | 936 | ||||||
Rev., 4.00%, 03/01/2037 | 1,135 | 1,040 | ||||||
Rev., 4.00%, 03/01/2038 | 1,000 | 895 | ||||||
Brookhaven Development Authority, Childrens Healthcare of Atlanta, |
||||||||
Rev., 5.00%, 07/01/2036 | 2,425 | 2,538 | ||||||
Rev., 5.00%, 07/01/2037 | 2,400 | 2,494 | ||||||
Series A, Rev., 4.00%, 07/01/2044 | 3,000 | 2,685 | ||||||
Brookhaven Urban Redevelopment Agency, Series A, Rev., 4.00%, 07/01/2045 | 3,260 | 2,998 | ||||||
Carroll County, School District, GO, 5.00%, 04/01/2024 | 1,000 | 1,006 | ||||||
City of Atlanta, Department of Aviation, |
||||||||
Series B, Rev., AMT, 5.00%, 07/01/2028 | 3,300 | 3,414 | ||||||
Series C, Rev., AMT, 5.00%, 07/01/2026 | 960 | 977 | ||||||
Series C, Rev., AMT, 5.00%, 07/01/2034 | 540 | 564 | ||||||
Series G, Rev., AMT, 5.00%, 07/01/2025 (w) | 750 | 760 | ||||||
Series G, Rev., AMT, 5.00%, 07/01/2027 (w) | 230 | 236 | ||||||
City of Atlanta Water & Wastewater Revenue, Series B, Rev., 4.00%, 11/01/2037 | 1,000 | 942 | ||||||
City of Atlanta, Airport Passenger Facility, Subordinated Lien, Series C, Rev., 5.00%, 07/01/2040 | 2,000 | 2,062 | ||||||
City of Atlanta, Department of Aviation, Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2031 | 1,155 | 1,188 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Georgia continued | ||||||||
Cobb County Kennestone Hospital Authority, Revenue Anticipation Certificates, Rev., 5.00%, 04/01/2036 | 500 | 509 | ||||||
Development Authority for Fulton County, Jonesboro Road Senior Village, Rev., 3.00%, 10/01/2025 (z) | 2,020 | 1,991 | ||||||
Development Authority of Burke County (The), Oglethorpe Power Corp. Scherer Project, Series A, Rev., 1.50%, 01/01/2040 (z) | 250 | 237 | ||||||
Development Authority of Monroe County (The), Oglethorpe Power Corp. Scherer Project, Series A, Rev., 1.50%, 01/01/2039 (z) | 125 | 118 | ||||||
Development Authority of Monroe County, Georgia Power Co. Plant Scherer, Rev., 3.88%, 06/01/2042 (z) | 1,250 | 1,223 | ||||||
Development Authority of Monroe County (The), Georgia Power Co. Plant Scherer, Rev., 1.00%, 07/01/2049 (z) | 1,785 | 1,563 | ||||||
Development Authority of Rockdale County, Arbours at Conyers Project, Rev., 3.63%, 02/01/2026 (z) | 1,085 | 1,068 | ||||||
George L Smith II Congress Center Authority, Convention Center Hotel, Series 2, Rev., 5.00%, 01/01/2054 (e) | 1,000 | 759 | ||||||
George L Smith II Congress Center Authority, Convention Center Hotel First, Rev., 4.00%, 01/01/2036 | 2,750 | 2,471 | ||||||
Georgia Housing & Finance Authority, Series A, Rev., 2.75%, 12/01/2035 | 500 | 405 | ||||||
Georgia Ports Authority, Rev., 5.25%, 07/01/2043 | 2,705 | 2,866 | ||||||
Georgia State Road & Tollway Authority, |
||||||||
Rev., 5.00%, 06/01/2027 | 5,250 | 5,503 | ||||||
Rev., 5.00%, 06/01/2028 | 5,500 | 5,846 | ||||||
Rev., 5.00%, 06/01/2030 | 6,205 | 6,740 | ||||||
Main Street Natural Gas, Inc., |
||||||||
Series A, Rev., 4.00%, 07/01/2052 (z) | 14,500 | 14,117 | ||||||
Series A, Rev., 5.00%, 05/15/2033 | 4,950 | 4,856 | ||||||
Series A, Rev., 5.00%, 06/01/2053 (z) | 15,000 | 14,876 | ||||||
Series A, Rev., 5.50%, 09/15/2028 | 1,000 | 1,027 | ||||||
Series B, Rev., 4.00%, 08/01/2049 (z) | 575 | 571 | ||||||
Series B, Rev., 5.00%, 06/01/2028 | 2,500 | 2,504 | ||||||
Series B, Rev., 5.00%, 06/01/2029 | 1,500 | 1,497 | ||||||
Series B, Rev., 5.00%, 12/01/2052 (z) | 5,000 | 4,991 | ||||||
Series B, Rev., 5.00%, 07/01/2053 (z) | 11,845 | 11,961 | ||||||
Series C, Rev., LIQ: Royal Bank of Canada, 4.00%, 08/01/2048 (z) | 105 | 105 | ||||||
Series C, Rev., 4.00%, 03/01/2050 (z) | 6,350 | 6,206 | ||||||
Series C, Rev., 4.00%, 05/01/2052 (z) | 12,310 | 11,757 | ||||||
Series C, Rev., 5.00%, 09/01/2053 (z) | 11,285 | 11,403 | ||||||
Series D, Rev., 5.00%, 12/01/2054 (z) | 7,500 | 7,430 | ||||||
Main Street Natural Gas, Inc., Gas Supply, Series C, Rev., 4.00%, 08/01/2052 (e) (z) | 11,000 | 10,371 | ||||||
Main Street Natural Gas, Inc., Main Street Gas, Series D, Rev., LIQ: Royal Bank of Canada, (ICE LIBOR USD 1 Month * 0.67 + 0.83%), 4.48%, 08/01/2048 (aa) | 1,000 | 1,001 | ||||||
Metropolitan Atlanta Rapid Transit Authority, Series B, Rev., 5.00%, 07/01/2045 | 10,000 | 10,105 | ||||||
Milledgeville & Baldwin County Development Authority, Georgia College & State University Projects, | ||||||||
Rev., 4.00%, 06/15/2037 | 500 | 450 | ||||||
Rev., 5.00%, 06/15/2024 | 470 | 473 | ||||||
Rev., 5.00%, 06/15/2025 | 360 | 366 | ||||||
Municipal Electric Authority of Georgia, Combined Cycle Project, |
||||||||
Series A, Rev., 4.00%, 11/01/2023 | 2,750 | 2,748 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Georgia continued | ||||||||
Series A, Rev., 5.00%, 11/01/2027 | 250 | 259 | ||||||
Series A, Rev., 5.00%, 11/01/2029 | 250 | 262 | ||||||
Municipal Electric Authority of Georgia, General Resolution Project, Series A, Rev., 4.00%, 01/01/2037 | 1,125 | 1,046 | ||||||
Municipal Electric Authority of Georgia, Plant Vogtle Unis 3&4 Project, Rev., 5.00%, 01/01/2059 | 3,000 | 2,868 | ||||||
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 and 4 Project, |
||||||||
Series A, Rev., AGM, 5.00%, 07/01/2033 | 1,610 | 1,729 | ||||||
Series A, Rev., AGM, 5.00%, 07/01/2035 | 1,300 | 1,385 | ||||||
Series A, Rev., AGM, 5.00%, 07/01/2036 | 2,795 | 2,952 | ||||||
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project, |
||||||||
Rev., AGM, 4.00%, 01/01/2036 | 330 | 316 | ||||||
Rev., AGM, 4.00%, 01/01/2041 | 1,000 | 905 | ||||||
Rev., AGM, 5.00%, 01/01/2025 | 200 | 202 | ||||||
Rev., AGM, 5.00%, 01/01/2027 | 125 | 129 | ||||||
Rev., AGM, 5.00%, 07/01/2027 | 500 | 520 | ||||||
Rev., BAM, 5.00%, 01/01/2049 | 2,000 | 2,002 | ||||||
Rev., AGM, 5.00%, 07/01/2053 | 3,675 | 3,695 | ||||||
Rev., AGM, 5.00%, 07/01/2055 | 4,615 | 4,636 | ||||||
Municipal Electric Authority of Georgia, Project One Subordinated, |
||||||||
Rev., 5.00%, 01/01/2029 | 1,110 | 1,158 | ||||||
Series A, Rev., 5.00%, 01/01/2035 | 2,245 | 2,248 | ||||||
Municipal Electric Authority of Georgia, Project One, Subordinated, Series B, Rev., 4.00%, 01/01/2039 | 1,400 | 1,279 | ||||||
Municipal Electric Authority of Georgia, Subordinate General Resolution, Rev., 5.00%, 01/01/2033 | 1,010 | 1,074 | ||||||
Municipal Electric Authority of Georgia, Subordinate Project One, |
||||||||
Series A, Rev., 5.00%, 01/01/2030 | 705 | 741 | ||||||
Series A, Rev., 5.00%, 01/01/2031 | 1,715 | 1,813 | ||||||
Northwest Georgia Housing Authority, Dallas Manor Apartments Projects, Rev., HUD, 0.25%, 10/01/2024 (z) | 260 | 260 | ||||||
Paulding County Hospital Authority, Anticipation Certificates Wellstar Health, |
||||||||
Rev., 5.00%, 04/01/2036 | 325 | 339 | ||||||
Rev., 5.00%, 04/01/2038 | 500 | 511 | ||||||
Private Colleges & Universities Authority, Emory University, Series B, Rev., 4.00%, 09/01/2039 | 1,420 | 1,366 | ||||||
Private Colleges & Universities Authority, Savannah College of Art And Design, |
||||||||
Rev., 4.00%, 04/01/2038 | 1,400 | 1,318 | ||||||
Rev., 5.00%, 04/01/2027 | 400 | 413 | ||||||
Savannah Economic Development Authority, International Paper Company Project, Rev., 1.90%, 08/01/2024 | 150 | 145 | ||||||
State of Georgia, |
||||||||
Series A1, GO, 5.00%, 02/01/2024 | 100 | 100 | ||||||
Series C, GO, 4.00%, 07/01/2027 | 1,000 | 1,018 | ||||||
Series E, GO, 5.00%, 12/01/2027 | 1,570 | 1,637 | ||||||
Series F, GO, 5.00%, 01/01/2025 | 2,000 | 2,031 | ||||||
State of Georgia, Bidding Group 1, Series A, GO, 5.00%, 07/01/2033 | 2,000 | 2,206 | ||||||
State of Georgia, Bidding Group 2, Series A, GO, 4.00%, 07/01/2035 | 750 | 760 | ||||||
State of Georgia, Group 2, Series A, GO, 4.00%, 08/01/2034 | 1,000 | 1,020 | ||||||
State of Georgia, Tranche 2, Series A, GO, 5.00%, 07/01/2030 | 2,000 | 2,160 | ||||||
Valdosta Housing Authority, Tishco Rural Rental Housing, Rev., 1.25%, 02/01/2025 (z) | 375 | 370 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Georgia continued | ||||||||
Villa Rica Downtown Development Authority, Arbours At Villa Rica Project, Rev., 1.25%, 08/01/2025 (z) | 4,415 | 4,285 | ||||||
Walker County Development Authority, Gateway At Rossville Project, Rev., 0.46%, 12/01/2024 (z) | 1,000 | 992 | ||||||
|
|
|||||||
232,218 | ||||||||
|
|
|||||||
Guam 0.0% (g) | ||||||||
Antonio B. Won Pat International Airport Authority, Rev., AMT, 5.25%, 10/01/2030 | 750 | 734 | ||||||
Territory of Guam, Series F, Rev., 4.00%, 01/01/2042 | 1,000 | 809 | ||||||
|
|
|||||||
1,543 | ||||||||
|
|
|||||||
Hawaii 0.4% |
||||||||
City & County Honolulu Wastewater System Revenue, Green Bonds Senior Lien, Rev., 5.00%, 07/01/2040 | 540 | 573 | ||||||
City & County Honolulu Wastewater System Revenue, Senior First Bond Resolution, Series A, Rev., 5.00%, 07/01/2035 | 2,110 | 2,214 | ||||||
City & County of Honolulu, |
||||||||
Series A, GO, 5.00%, 10/01/2025 | 15 | 15 | ||||||
Series A, GO, 5.00%, 09/01/2027 | 30 | 32 | ||||||
Series C, GO, 5.00%, 10/01/2028 | 1,450 | 1,547 | ||||||
Series C, GO, 5.00%, 10/01/2029 | 1,000 | 1,079 | ||||||
State of Hawaii, Series FG, GO, 4.00%, 10/01/2032 | 2,000 | 1,978 | ||||||
State of Hawaii Airports System Revenue, |
||||||||
Series A, Rev., AMT, 5.00%, 07/01/2032 | 1,500 | 1,536 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2033 | 1,630 | 1,668 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2034 | 2,000 | 2,080 | ||||||
Series B, Rev., 5.00%, 07/01/2026 | 1,250 | 1,294 | ||||||
State of Hawaii Department of Budget & Finance, Rev., 3.20%, 07/01/2039 | 3,000 | 1,916 | ||||||
State of Hawaii Harbor System Revenue, |
||||||||
Series A, Rev., AMT, 4.00%, 07/01/2031 | 250 | 243 | ||||||
Series A, Rev., AMT, 4.00%, 07/01/2032 | 500 | 482 | ||||||
Series A, Rev., AMT, 4.00%, 07/01/2033 | 750 | 718 | ||||||
Series A, Rev., AMT, 4.00%, 07/01/2034 | 3,555 | 3,374 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2027 | 250 | 256 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2028 | 500 | 516 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2029 | 250 | 259 | ||||||
Series C, Rev., 4.00%, 07/01/2032 | 200 | 198 | ||||||
State of Hawaii State Highway Fund, Rev., 5.00%, 01/01/2029 | 1,000 | 1,070 | ||||||
State of Hawaii, Airports System Revenue, Series D, Rev., 5.00%, 07/01/2030 | 1,000 | 1,080 | ||||||
|
|
|||||||
24,128 | ||||||||
|
|
|||||||
Idaho 0.1% |
||||||||
Idaho Health Facilities Authority, Trinity Health Credit Group, Series A, Rev., 5.00%, 12/01/2047 | 1,715 | 1,690 | ||||||
Idaho Housing & Finance Association, |
||||||||
Series A, Rev., 5.00%, 08/15/2029 | 1,000 | 1,077 | ||||||
Series A, Rev., 5.00%, 08/15/2034 | 1,130 | 1,248 | ||||||
Idaho Housing & Finance Association, Garvee, Series A, Rev., 5.00%, 07/15/2030 | 1,250 | 1,348 | ||||||
Idaho Housing & Finance Association, Transportation Expansion & Mitigation, Rev., 5.00%, 08/15/2037 | 165 | 177 | ||||||
|
|
|||||||
5,540 | ||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Illinois 7.8% |
||||||||
Champaign County Community Unit School District No. 4 Champaign, GO, 5.00%, 01/01/2029 | 1,765 | 1,805 | ||||||
Chicago Board of Education, |
||||||||
Series A, GO, AGM, 5.00%, 12/01/2026 | 10 | 10 | ||||||
Series A, GO, 5.00%, 12/01/2041 | 1,000 | 946 | ||||||
Series A, GO, 5.00%, 12/01/2042 | 10,000 | 9,205 | ||||||
Series D, GO, 5.00%, 12/01/2046 | 7,500 | 6,731 | ||||||
Chicago Board of Education Dedicated Capital Improvement Tax, |
||||||||
Rev., 5.25%, 04/01/2039 | 3,125 | 3,219 | ||||||
Rev., 5.75%, 04/01/2048 | 4,000 | 4,188 | ||||||
Chicago Board of Education, Capital Appreciation School Reform, |
||||||||
Series A, GO, NATL, Zero Coupon, 12/01/2024 | 500 | 473 | ||||||
Series A, GO, NATL, Zero Coupon, 12/01/2025 | 255 | 230 | ||||||
Series A, GO, NATL, Zero Coupon, 12/01/2029 | 1,220 | 905 | ||||||
Series B1, GO, NATL, Zero Coupon, 12/01/2028 | 500 | 391 | ||||||
Series B1, GO, NATL, Zero Coupon, 12/01/2029 | 1,105 | 820 | ||||||
Chicago Board of Education, Dedicated, |
||||||||
Series C, GO, 5.00%, 12/01/2034 | 2,000 | 2,004 | ||||||
Series G, GO, 5.00%, 12/01/2034 | 1,000 | 1,002 | ||||||
Series H, GO, 5.00%, 12/01/2036 | 2,000 | 1,948 | ||||||
Series H, GO, 5.00%, 12/01/2046 | 1,000 | 904 | ||||||
Chicago Midway International Airport, Series B, Rev., 5.00%, 01/01/2046 | 10,000 | 9,882 | ||||||
Chicago Midway International Airport, Second Lien, Series A, Rev., AMT, 5.00%, 01/01/2041 | 3,000 | 2,951 | ||||||
Chicago OHare International Airport, |
||||||||
Rev., AMT, 5.00%, 01/01/2030 | 3,400 | 3,414 | ||||||
Rev., AMT, 5.00%, 01/01/2032 | 2,000 | 2,004 | ||||||
Chicago OHare International Airport, Passenger Facility Charge, Rev., AMT, 5.00%, 01/01/2032 | 3,500 | 3,483 | ||||||
Chicago OHare International Airport, Senior Lien, |
||||||||
Series A, Rev., 4.00%, 01/01/2035 | 3,500 | 3,438 | ||||||
Series A, Rev., 5.00%, 01/01/2035 | 6,000 | 6,346 | ||||||
Chicago OHare International Airport, Senior Lien Customer Facility, Rev., BAM, 5.25%, 01/01/2042 | 1,465 | 1,512 | ||||||
Chicago Transit Authority Capital Grant Receipts Revenue, Section 5357, Rev., 5.00%, 06/01/2028 | 1,000 | 1,038 | ||||||
Chicago Transit Authority Sales Tax Receipts Fund, |
||||||||
Rev., 5.00%, 12/01/2044 | 5,000 | 4,904 | ||||||
Rev., AGM, 5.00%, 12/01/2044 | 1,000 | 992 | ||||||
Rev., 5.25%, 12/01/2049 | 10,000 | 10,022 | ||||||
Series A, Rev., 5.00%, 12/01/2045 | 6,500 | 6,526 | ||||||
Series A, Rev., BAM, 5.00%, 12/01/2046 | 4,500 | 4,667 | ||||||
Chicago Transit Authority Sales Tax Receipts Fund, Second Lien, |
||||||||
Rev., 5.00%, 12/01/2051 | 4,750 | 4,716 | ||||||
Series A, Rev., 4.00%, 12/01/2049 | 4,000 | 3,338 | ||||||
Series A, Rev., 5.00%, 12/01/2052 | 5,000 | 4,955 | ||||||
Series A, Rev., 5.00%, 12/01/2055 | 2,000 | 1,976 | ||||||
City of Aurora Waterworks & Sewerage Revenue, Series B, Rev., 4.00%, 12/01/2034 | 1,565 | 1,532 | ||||||
City of Berwyn, Series A, GO, 5.00%, 12/01/2029 | 1,000 | 994 | ||||||
City of Chicago, |
||||||||
Series A, GO, 5.00%, 01/01/2027 | 5,500 | 5,620 | ||||||
Series A, GO, 5.00%, 01/01/2033 | 1,000 | 1,025 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Illinois continued | ||||||||
Series A, GO, 5.00%, 01/01/2034 | 4,500 | 4,605 | ||||||
Series A, GO, 5.50%, 01/01/2049 | 6,325 | 6,339 | ||||||
Series A, GO, 6.00%, 01/01/2038 | 8,775 | 9,110 | ||||||
Series B, GO, 4.00%, 01/01/2038 (e) | 521 | 456 | ||||||
Series C, GO, Zero Coupon, 01/01/2027 (p) | 500 | 440 | ||||||
Series C, GO, 5.00%, 01/01/2025 | 45 | 45 | ||||||
Series C, GO, 5.00%, 01/01/2028 | 1,450 | 1,465 | ||||||
City of Chicago Special Assessment Revenue, Lakeshore East Project, |
||||||||
Special Assessment, 2.69%, 12/01/2026 (e) | 305 | 285 | ||||||
Special Assessment, 3.04%, 12/01/2028 (e) | 270 | 244 | ||||||
City of Chicago Waterworks Revenue, Second Lien Project, |
||||||||
Rev., 4.00%, 11/01/2037 | 215 | 194 | ||||||
Rev., 5.00%, 11/01/2023 | 100 | 100 | ||||||
Rev., 5.00%, 11/01/2044 | 2,410 | 2,322 | ||||||
City of Chicago, Chicago Works, |
||||||||
Series A, GO, 5.25%, 01/01/2038 | 2,680 | 2,714 | ||||||
Series A, GO, 5.50%, 01/01/2039 | 1,180 | 1,212 | ||||||
Series A, GO, 5.50%, 01/01/2040 | 1,000 | 1,023 | ||||||
Series A, GO, 5.50%, 01/01/2041 | 1,000 | 1,016 | ||||||
Series A, GO, 5.50%, 01/01/2043 | 1,500 | 1,516 | ||||||
City of Chicago, Wastewater Transmission Revenue, Second Lien, |
||||||||
Rev., 5.00%, 01/01/2039 | 4,005 | 3,938 | ||||||
Series A, Rev., AGM, 5.25%, 01/01/2048 | 5,000 | 5,135 | ||||||
Series B, Rev., AGM-CR, 5.00%, 01/01/2027 | 1,000 | 1,036 | ||||||
Series B, Rev., AGM, 5.00%, 01/01/2029 | 300 | 316 | ||||||
Series B, Rev., AGM, 5.00%, 01/01/2038 | 130 | 135 | ||||||
City of Chicago, Waterworks Revenue, Second Lien, |
||||||||
Rev., 5.00%, 11/01/2034 | 1,000 | 1,005 | ||||||
Series A, Rev., AGM, 5.25%, 11/01/2048 | 1,500 | 1,544 | ||||||
Series B, Rev., AGM, 4.00%, 11/01/2040 | 4,320 | 3,943 | ||||||
Series B, Rev., AGM, 5.00%, 11/01/2028 | 300 | 316 | ||||||
Series B, Rev., AGM, 5.00%, 11/01/2031 | 400 | 427 | ||||||
Series B, Rev., AGM, 5.00%, 11/01/2033 | 2,350 | 2,532 | ||||||
City of Granite City, Waste Management, Inc., Rev., AMT, 1.25%, 05/01/2027 | 5,000 | 4,406 | ||||||
Cook County Community College District No. 508, City Colleges Chicago, |
||||||||
GO, 5.13%, 12/01/2038 | 1,000 | 950 | ||||||
GO, 5.25%, 12/01/2030 | 1,000 | 991 | ||||||
Cook County Community Consolidated School District No. 34 Glenview, GO, 4.00%, 12/01/2029 | 2,000 | 2,049 | ||||||
Cook County High School District No. 214 Arlington Heights, GO, 4.00%, 12/01/2026 | 1,910 | 1,931 | ||||||
Cook County, Community School District No. 97, Oak Park, GO, 4.00%, 01/01/2034 | 2,000 | 1,984 | ||||||
County of Cook, |
||||||||
Series A, GO, 5.00%, 11/15/2025 | 960 | 976 | ||||||
Series A, GO, AGM, 5.00%, 11/15/2026 | 1,000 | 1,034 | ||||||
Series A, GO, 5.00%, 11/15/2026 | 3,900 | 4,010 | ||||||
Series A, GO, 5.00%, 11/15/2033 | 250 | 267 | ||||||
County of Cook Sales Tax Revenue, |
||||||||
Series A, Rev., 5.00%, 11/15/2025 | 690 | 704 | ||||||
Series A, Rev., 5.25%, 11/15/2045 | 2,500 | 2,558 | ||||||
County of Cook, Sales Tax Revenue, Series A, Rev., 5.00%, 11/15/2038 | 1,240 | 1,268 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Illinois continued | ||||||||
Illinois Finance Authority, |
||||||||
Series A, Rev., 4.00%, 07/15/2036 | 710 | 679 | ||||||
Series A, Rev., 4.00%, 07/15/2039 | 3,000 | 2,730 | ||||||
Series B2, Rev., 5.00%, 05/15/2050 (z) | 4,800 | 4,873 | ||||||
Illinois Finance Authority, Acero Charter Schools, Inc., Rev., 4.00%, 10/01/2042 (e) | 500 | 376 | ||||||
Illinois Finance Authority, Advocate Health Care Network Project, Rev., 4.00%, 11/01/2030 | 2,600 | 2,492 | ||||||
Illinois Finance Authority, Ann & Robert H. Lurie Childrens Hospital of Chicago, Rev., 5.00%, 08/15/2035 | 1,610 | 1,642 | ||||||
Illinois Finance Authority, Carle Foundation, Series A, Rev., 5.00%, 02/15/2045 | 19,250 | 18,985 | ||||||
Illinois Finance Authority, Centegra Health System, Series A, Rev., 5.00%, 09/01/2025 (p) | 130 | 131 | ||||||
Illinois Finance Authority, Depaul College Prep Foundation, Rev., 5.50%, 08/01/2043 (e) | 1,360 | 1,322 | ||||||
Illinois Finance Authority, Green Bond, Rev., 4.00%, 07/01/2038 | 4,160 | 3,847 | ||||||
Illinois Finance Authority, Green Bonds, |
||||||||
Rev., 4.00%, 01/01/2033 | 8,190 | 8,314 | ||||||
Rev., 4.00%, 07/01/2040 | 1,500 | 1,378 | ||||||
Illinois Finance Authority, Health Services Facility Lease Revenue, Provident Group UIC Surgery, |
||||||||
Rev., 4.00%, 10/01/2040 | 1,750 | 1,469 | ||||||
Rev., 5.00%, 10/01/2032 | 750 | 765 | ||||||
Illinois Finance Authority, Illinois State Clean Water Initiative, Green Bond, Rev., 5.00%, 01/01/2028 | 100 | 106 | ||||||
Illinois Finance Authority, Mercy Health Corp., Rev., 5.00%, 12/01/2040 | 1,080 | 1,046 | ||||||
Illinois Finance Authority, Northshore University Health System, Rev., 5.00%, 08/15/2035 | 750 | 793 | ||||||
Illinois Finance Authority, Northwestern Memorial HealthCare, Rev., 4.00%, 07/15/2047 | 4,000 | 3,458 | ||||||
Illinois Finance Authority, OSF Healthcare System, |
||||||||
Rev., 4.00%, 05/15/2050 | 1,000 | 796 | ||||||
Series A, Rev., 5.00%, 11/15/2045 | 10,900 | 10,066 | ||||||
Series B1, Rev., 5.00%, 05/15/2050 (z) | 2,250 | 2,256 | ||||||
Illinois Finance Authority, Plymouth Place, Inc., Rev., 5.00%, 05/15/2041 | 400 | 325 | ||||||
Illinois Finance Authority, Presbyterian Homes, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 4.68%, 05/01/2042 (aa) | 180 | 176 | ||||||
Illinois Finance Authority, Southern Illinois Healthcare, Rev., 5.00%, 03/01/2031 | 2,135 | 2,151 | ||||||
Illinois Finance Authority, State Clean Water Initiative, Rev., 4.00%, 07/01/2026 | 2,100 | 2,107 | ||||||
Illinois Finance Authority, Swedish Covenant Hospital, |
||||||||
Rev., 5.00%, 08/15/2032 (p) | 4,000 | 4,122 | ||||||
Series A, Rev., 5.00%, 08/15/2026 (p) | 1,690 | 1,742 | ||||||
Illinois Finance Authority, The Carle Foundation, |
||||||||
Series A, Rev., 3.00%, 08/15/2048 | 2,850 | 1,935 | ||||||
Series A, Rev., 5.00%, 08/15/2031 | 2,530 | 2,706 | ||||||
Series B, Rev., 5.00%, 08/15/2053 (z) | 285 | 298 | ||||||
Illinois Finance Authority, The University Of Chicago, Series A, Rev., 5.25%, 05/15/2048 | 2,000 | 2,090 | ||||||
Illinois Finance Authority, UChicago Medicine, |
||||||||
Rev., 5.00%, 08/15/2052 (z) | 1,710 | 1,771 | ||||||
Series A, Rev., 5.00%, 08/15/2047 | 17,000 | 16,861 | ||||||
Illinois Finance Authority, University of Chicago, |
||||||||
Series A, Rev., 5.00%, 10/01/2028 | 3,000 | 3,191 | ||||||
Series A, Rev., 5.00%, 10/01/2034 | 1,750 | 1,953 | ||||||
Series A, Rev., 5.00%, 10/01/2035 | 1,400 | 1,562 | ||||||
Illinois Finance Authority, University Of Chicago, Series A, Rev., 5.00%, 10/01/2038 | 1,000 | 1,088 | ||||||
Illinois Housing Development Authority, |
||||||||
Series C, Rev., FHA, 0.80%, 07/01/2026 | 270 | 244 | ||||||
Series D, Rev., GNMA/FNMA/FHLMC, 3.75%, 04/01/2050 | 1,345 | 1,303 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Illinois continued | ||||||||
Illinois Housing Development Authority, Social Bonds, |
||||||||
Series A, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051 | 3,800 | 3,591 | ||||||
Series B, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051 | 405 | 381 | ||||||
Series H, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 10/01/2053 | 700 | 728 | ||||||
Illinois Sports Facilities Authority (The), State Tax Supported, |
||||||||
Rev., 5.00%, 06/15/2030 | 500 | 498 | ||||||
Rev., AGM, 5.25%, 06/15/2031 | 225 | 226 | ||||||
Illinois State Toll Highway Authority, |
||||||||
Series A, Rev., 4.00%, 01/01/2046 | 14,950 | 13,241 | ||||||
Series A, Rev., 5.00%, 01/01/2028 | 185 | 190 | ||||||
Series A, Rev., 5.00%, 01/01/2041 | 3,300 | 3,416 | ||||||
Series A, Rev., 5.00%, 01/01/2044 | 6,580 | 6,681 | ||||||
Series B, Rev., 5.00%, 01/01/2029 | 100 | 102 | ||||||
Series B, Rev., 5.00%, 01/01/2037 | 5,000 | 5,002 | ||||||
Illinois State Toll Highway Authority, Senior, |
||||||||
Series A, Rev., 5.00%, 12/01/2031 | 5,115 | 5,183 | ||||||
Series A, Rev., 5.25%, 01/01/2043 | 2,315 | 2,434 | ||||||
Series B, Rev., 5.00%, 01/01/2028 | 4,000 | 4,204 | ||||||
Series B, Rev., 5.00%, 01/01/2041 | 2,190 | 2,207 | ||||||
Illinois State Toll Highway Authority, Toll Highway Revenue, |
||||||||
Series A, Rev., 5.00%, 01/01/2036 | 1,000 | 1,078 | ||||||
Series A, Rev., 5.00%, 01/01/2037 | 1,555 | 1,636 | ||||||
Macon County, School District No. 61 Decatur, |
||||||||
GO, AGM, 4.00%, 01/01/2040 | 1,420 | 1,273 | ||||||
GO, AGM, 4.00%, 01/01/2045 | 3,000 | 2,638 | ||||||
Metropolitan Pier & Exposition Authority, Rev., NATL, Zero Coupon, 12/15/2034 | 500 | 297 | ||||||
Metropolitan Pier & Exposition Authority Revenue, McCormick Place Expansion, Rev., 5.00%, 06/15/2042 | 5,645 | 5,595 | ||||||
Metropolitan Pier & Exposition Authority, Capital Appreciation McCormick, |
||||||||
Rev., NATL, Zero Coupon, 12/15/2035 | 500 | 280 | ||||||
Rev., NATL, Zero Coupon, 06/15/2036 | 6,000 | 3,277 | ||||||
Rev., NATL, Zero Coupon, 06/15/2037 | 500 | 256 | ||||||
Rev., AGM, Zero Coupon, 06/15/2044 | 500 | 171 | ||||||
Series B, Rev., AGM, Zero Coupon, 06/15/2027 | 660 | 561 | ||||||
Metropolitan Pier & Exposition Authority, Capital Appreciation McCormick Project, Rev., NATL, Zero Coupon, 06/15/2028 | 250 | 202 | ||||||
Metropolitan Pier & Exposition Authority, McCormick Expansion Project, Series B, Rev., 5.00%, 12/15/2027 | 125 | 126 | ||||||
Metropolitan Pier & Exposition Authority, McCormick Place, |
||||||||
Rev., Zero Coupon, 06/15/2037 | 1,175 | 588 | ||||||
Rev., Zero Coupon, 06/15/2041 | 1,750 | 675 | ||||||
Metropolitan Pier & Exposition Authority, McCormick Place Expansion, |
||||||||
Rev., 3.00%, 06/15/2025 | 150 | 145 | ||||||
Rev., 4.00%, 12/15/2042 | 4,990 | 4,310 | ||||||
Rev., 4.00%, 06/15/2050 | 1,000 | 810 | ||||||
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Rev., 5.00%, 06/15/2057 | 1,760 | 1,684 | ||||||
Metropolitan Water Reclamation District of Greater Chicago, Green Bond, Series C, GO, 5.00%, 12/01/2045 | 3,000 | 2,971 | ||||||
Metropolitan Water Reclamation District of Greater Chicago, Green Bonds, Series E, GO, 5.00%, 12/01/2036 | 2,065 | 2,101 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Illinois continued | ||||||||
Northern Illinois University, Board of Trustees Auxiliary Facilities, Rev., BAM, 4.00%, 10/01/2033 | 1,000 | 947 | ||||||
Regional Transportation Authority, Series A, Rev., NATL, 6.00%, 07/01/2025 | 25 | 26 | ||||||
Sales Tax Securitization Corp., Series A, Rev., 5.00%, 01/01/2048 | 2,000 | 1,977 | ||||||
Sales Tax Securitization Corp., Second Lien, |
||||||||
Series A, Rev., 4.00%, 01/01/2039 | 3,000 | 2,680 | ||||||
Series A, Rev., BAM, 5.00%, 01/01/2037 | 750 | 776 | ||||||
Series C, Rev., 5.00%, 01/01/2029 (w) | 850 | 886 | ||||||
Series C, Rev., 5.00%, 01/01/2032 (w) | 1,400 | 1,482 | ||||||
Series C, Rev., 5.00%, 01/01/2034 (w) | 365 | 386 | ||||||
Southwestern Illinois Development Authority, Southwestern Il Flood Prevention, Rev., 4.00%, 10/15/2035 | 1,215 | 1,180 | ||||||
State of Illinois, |
||||||||
GO, 4.00%, 06/01/2032 | 1,980 | 1,906 | ||||||
GO, 4.00%, 06/01/2034 | 4,485 | 4,247 | ||||||
GO, 4.00%, 06/01/2036 | 485 | 451 | ||||||
GO, 5.00%, 01/01/2028 | 6,810 | 6,938 | ||||||
GO, 5.00%, 02/01/2028 | 3,050 | 3,133 | ||||||
GO, 5.00%, 01/01/2029 | 2,085 | 2,118 | ||||||
GO, 5.00%, 02/01/2029 | 1,000 | 1,025 | ||||||
GO, 5.25%, 02/01/2030 | 2,000 | 2,001 | ||||||
GO, 5.50%, 05/01/2030 | 2,000 | 2,131 | ||||||
Series A, GO, 4.00%, 03/01/2041 | 250 | 218 | ||||||
Series A, GO, 5.00%, 10/01/2023 | 300 | 300 | ||||||
Series A, GO, 5.00%, 03/01/2024 | 80 | 80 | ||||||
Series A, GO, 5.00%, 11/01/2026 | 1,360 | 1,395 | ||||||
Series A, GO, 5.00%, 03/01/2027 | 2,355 | 2,422 | ||||||
Series A, GO, 5.00%, 03/01/2028 | 750 | 778 | ||||||
Series A, GO, 5.00%, 03/01/2030 | 1,000 | 1,049 | ||||||
Series A, GO, 5.00%, 03/01/2046 | 1,000 | 987 | ||||||
Series A, GO, 5.50%, 03/01/2042 | 1,500 | 1,565 | ||||||
Series A, GO, 5.50%, 03/01/2047 | 2,690 | 2,788 | ||||||
Series A, GO, 6.00%, 05/01/2025 | 500 | 514 | ||||||
Series B, GO, 5.00%, 10/01/2029 | 1,000 | 1,047 | ||||||
Series B, GO, 5.00%, 10/01/2031 | 5,000 | 5,244 | ||||||
Series B, GO, 5.50%, 05/01/2039 | 250 | 261 | ||||||
Series B, GO, 5.50%, 05/01/2047 | 2,500 | 2,594 | ||||||
Series C, GO, 5.00%, 11/01/2029 | 4,200 | 4,323 | ||||||
Series C, GO, 5.25%, 10/01/2047 | 3,000 | 3,035 | ||||||
Series D, GO, 5.00%, 11/01/2024 | 1,000 | 1,008 | ||||||
Series D, GO, 5.00%, 11/01/2026 | 1,980 | 2,031 | ||||||
Series D, GO, 5.00%, 11/01/2027 | 6,080 | 6,289 | ||||||
Series D, GO, 5.00%, 11/01/2028 | 2,500 | 2,581 | ||||||
State of Illinois Sales Tax Revenue, Series A, Rev., BAM, 4.00%, 06/15/2029 | 2,250 | 2,181 | ||||||
State of Illinois Sales Tax Revenue, Junior Obligation, |
||||||||
Series A, Rev., BAM, 4.00%, 06/15/2026 | 505 | 499 | ||||||
Series A, Rev., BAM, 4.00%, 06/15/2031 | 1,500 | 1,439 | ||||||
State of Illinois, Build America Bonds, |
||||||||
GO, 6.90%, 03/01/2035 | 1,000 | 1,031 | ||||||
GO, 7.35%, 07/01/2035 | 3,429 | 3,571 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Illinois continued | ||||||||
University of Illinois, Auxiliary Facilities System, Series A, Rev., 5.00%, 04/01/2025 | 140 | 141 | ||||||
University of Illinois, Auxiliary Facility, Series A, Rev., AGM-CR, 4.00%, 04/01/2036 | 4,730 | 4,439 | ||||||
Village of Rosemont, Series A, GO, BAM, 5.00%, 12/01/2042 | 10,000 | 10,390 | ||||||
Will County Community Unit School District No. 209-U Wilmington, GO, AGM, 5.50%, 02/01/2038 | 1,195 | 1,262 | ||||||
Will Grundy Etc. Counties Community College District No. 525, Alternative Revenue Source, Series B, GO, 5.50%, 06/01/2031 (p) | 3,375 | 3,383 | ||||||
|
|
|||||||
491,699 | ||||||||
|
|
|||||||
Indiana 1.7% |
||||||||
City of Fishers Sewage Works Revenue, Rev., BAM, 4.00%, 07/01/2047 | 1,000 | 880 | ||||||
City of Kokomo, KHA RAD I Apartments, Rev., HUD, 0.56%, 02/01/2025 (z) | 2,175 | 2,140 | ||||||
City of Rockport, Industry Pollution Control, Michigan Power Company Project, Rev., 2.75%, 06/01/2025 | 100 | 97 | ||||||
City of Whiting, BP Products North America, Inc. Project, Rev., AMT, 5.00%, 11/01/2047 (z) | 5,000 | 5,037 | ||||||
Evansville Waterworks District, Series A, Rev., BAM, 5.00%, 07/01/2042 | 925 | 944 | ||||||
Indiana Finance Authority, Citizens Water Westfield Project, Series A, Rev., 4.00%, 10/01/2048 | 1,500 | 1,265 | ||||||
Indiana Finance Authority, Community Foundation of Northwest Industry, Rev., 5.00%, 09/01/2036 | 1,000 | 1,017 | ||||||
Indiana Finance Authority, DePauw University Project, Series A, Rev., 5.00%, 07/01/2047 | 8,000 | 7,313 | ||||||
Indiana Finance Authority, Duke Energy Indian, Rev., AMT, 4.50%, 05/01/2035 (z) | 3,305 | 3,231 | ||||||
Indiana Finance Authority, First Lien CWA Authority Project, Rev., 5.00%, 10/01/2040 (w) | 1,000 | 1,006 | ||||||
Indiana Finance Authority, First Lien, CWA Authority Project, Rev., 5.00%, 10/01/2023 | 45 | 45 | ||||||
Indiana Finance Authority, Green Bonds CWA Authority Project, Rev., 4.00%, 10/01/2037 | 1,440 | 1,365 | ||||||
Indiana Finance Authority, IN University Health Obligation Group, Rev., 4.00%, 12/01/2040 | 1,000 | 924 | ||||||
Indiana Finance Authority, Indianapolis Power, |
||||||||
Series A, Rev., 0.75%, 12/01/2038 (z) | 4,875 | 4,260 | ||||||
Series B, Rev., AMT, 0.95%, 12/01/2038 (z) | 7,025 | 6,187 | ||||||
Indiana Finance Authority, Marion General Hospital, Series A, Rev., 4.00%, 07/01/2040 | 5,060 | 4,360 | ||||||
Indiana Finance Authority, Ohio Valley Electric Corp. Project, |
||||||||
Series A, Rev., 4.25%, 11/01/2030 | 2,000 | 1,946 | ||||||
Series B, Rev., 2.50%, 11/01/2030 | 1,000 | 860 | ||||||
Indiana Finance Authority, Second Lien, CWA Authority Project, Rev., 5.00%, 10/01/2035 | 3,000 | 3,229 | ||||||
Indiana Finance Authority, United States Steel Corp., Series A, Rev., 4.13%, 12/01/2026 | 145 | 142 | ||||||
Indiana Finance Authority, University of Evansville, Rev., 5.25%, 09/01/2037 | 1,150 | 1,079 | ||||||
Indiana Finance Authority, Valley Electric Corporation Project, Series B, Rev., 3.00%, 11/01/2030 | 1,000 | 898 | ||||||
Indiana Finance Authority, Valparaiso University Project, Rev., 4.00%, 10/01/2034 | 1,315 | 1,200 | ||||||
Indiana Health Facility Financing Authority, Ascension Health Substitute Credit Group, Series A, Rev., 4.00%, 11/01/2023 | 85 | 85 | ||||||
Indiana Housing & Community Development Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051 | 750 | 710 | ||||||
Indiana Housing & Community Development Authority, Social Bonds, |
||||||||
Series A1, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 07/01/2053 | 250 | 259 | ||||||
Series A, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2052 | 965 | 899 | ||||||
Series C1, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052 | 45 | 42 | ||||||
Indiana Municipal Power Agency, Series A, Rev., 5.00%, 01/01/2029 | 400 | 425 | ||||||
Indianapolis Local Public Improvement Bond Bank, |
||||||||
Series A, Rev., AGM, 4.00%, 06/01/2036 | 5,000 | 4,883 | ||||||
Series A, Rev., AGM, 4.00%, 06/01/2041 | 9,000 | 8,131 | ||||||
Series A, Rev., 5.00%, 06/01/2024 | 15 | 15 | ||||||
Series A, Rev., 5.00%, 06/01/2025 | 500 | 507 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Indiana continued | ||||||||
Indianapolis Local Public Improvement Bond Bank, Airport Authority, Series A1, Rev., AMT, 5.00%, 01/01/2028 | 200 | 203 | ||||||
Indianapolis Local Public Improvement Bond Bank, CityWay 1 Project, Series B, Rev., 5.00%, 02/01/2024 | 175 | 175 | ||||||
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport, Rev., AMT, 5.00%, 01/01/2029 | 2,855 | 2,947 | ||||||
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport Authority, |
||||||||
Series D, Rev., AMT, 5.00%, 01/01/2029 | 3,000 | 2,998 | ||||||
Series D, Rev., AMT, 5.00%, 01/01/2030 | 2,000 | 1,998 | ||||||
Series D, Rev., AMT, 5.00%, 01/01/2031 | 4,000 | 3,996 | ||||||
Series D, Rev., AMT, 5.00%, 01/01/2032 | 4,500 | 4,494 | ||||||
Series D, Rev., AMT, 5.00%, 01/01/2033 | 3,500 | 3,494 | ||||||
Series I, Rev., AMT, 5.00%, 01/01/2032 | 4,885 | 4,895 | ||||||
Series I, Rev., AMT, 5.00%, 01/01/2033 | 5,000 | 5,010 | ||||||
Indianapolis Local Public Improvement Bond Bank, Metropolitan Thoroughfare District, Series D, Rev., 4.00%, 01/01/2041 | 10,000 | 9,121 | ||||||
Northwestern School Building Corp., |
||||||||
Rev., 6.00%, 07/15/2040 | 700 | 765 | ||||||
Rev., 6.00%, 07/15/2041 | 900 | 982 | ||||||
Purdue University, Series A, Rev., 5.00%, 07/01/2027 | 1,500 | 1,573 | ||||||
|
|
|||||||
108,032 | ||||||||
|
|
|||||||
Iowa 0.6% |
||||||||
Iowa Finance Authority, |
||||||||
Series A, Rev., 5.00%, 08/01/2034 | 1,030 | 1,132 | ||||||
Series D, Rev., GNMA/FNMA/FHLMC, 3.50%, 01/01/2049 | 300 | 286 | ||||||
Iowa Finance Authority, Iowa Fertilizer Company Project, |
||||||||
Rev., 4.00%, 12/01/2050 (z) | 5,905 | 5,504 | ||||||
Rev., 5.00%, 12/01/2050 | 4,755 | 4,576 | ||||||
Iowa Finance Authority, Social Bond, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052 | 2,000 | 1,865 | ||||||
Iowa Finance Authority, Social Bonds, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2047 | 1,840 | 1,734 | ||||||
Iowa Student Loan Liquidity Corp., Series B, Rev., AMT, 5.00%, 12/01/2030 | 1,000 | 1,011 | ||||||
Iowa Tobacco Settlement Authority, Subordinate, |
||||||||
Series B1, Rev., 4.00%, 06/01/2049 | 6,670 | 6,165 | ||||||
Series B, Rev., Zero Coupon, 06/01/2065 | 15,345 | 1,464 | ||||||
PEFA, Inc., Rev., 5.00%, 09/01/2049 (z) | 2,745 | 2,738 | ||||||
Sioux City Community School District, Rev., BAM, 3.00%, 10/01/2025 | 3,625 | 3,505 | ||||||
Southeast Polk Community School District, Series A, GO, 5.00%, 05/01/2028 | 5,185 | 5,487 | ||||||
|
|
|||||||
35,467 | ||||||||
|
|
|||||||
Kansas 0.4% |
||||||||
Butler County Unified School District No. 385 Andover, Refunding And School Building, GO, 5.00%, 09/01/2032 (p) | 1,000 | 1,055 | ||||||
City of Manhattan, Meadowlark Hills, Series A, Rev., 4.00%, 06/01/2036 | 1,000 | 813 | ||||||
Johnson County Unified School District No. 512 Shawnee Mission, Series A, GO, 4.00%, 10/01/2043 | 2,000 | 1,786 | ||||||
Kansas Development Finance Authority, Unrefunded, Rev., 5.00%, 11/15/2054 (z) | 1,500 | 1,568 | ||||||
Riley County Unified School District No. 383 Manhattan-Ogden, Series A, GO, 5.00%, 09/01/2034 (p) | 1,000 | 1,051 | ||||||
University of Kansas Hospital Authority, Improvement Ku Health System, Rev., 5.00%, 09/01/2045 | 3,800 | 3,763 | ||||||
University of Kansas Hospital Authority, University Kansas Health System, Rev., 5.00%, 03/01/2047 (p) | 3,865 | 4,019 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Kansas continued |
||||||||
University of Kansas Hospital Authority, Unrefunded University Kansas Health System, Rev., 5.00%, 03/01/2047 | 7,350 | 7,366 | ||||||
Wyandotte County Unified School District No. 203 Piper, |
||||||||
Series A, GO, AGM, 5.00%, 09/01/2040 | 900 | 936 | ||||||
Series A, GO, AGM, 5.25%, 09/01/2052 | 1,000 | 1,030 | ||||||
|
|
|||||||
23,387 | ||||||||
|
|
|||||||
Kentucky 1.2% |
||||||||
City of Henderson, Pratt Paper LLC Project, Rev., AMT, 4.45%, 01/01/2042 (e) | 1,685 | 1,554 | ||||||
County of Carroll, Utilities Company Project, Rev., AMT, 2.00%, 02/01/2032 | 8,620 | 6,431 | ||||||
County of Trimble, Louisville Gas & Electric, Rev., 0.63%, 09/01/2026 | 605 | 529 | ||||||
County of Trimble, Louisville Gas & Electricity, Rev., AMT, 1.35%, 11/01/2027 | 8,100 | 6,995 | ||||||
County of Trimble, Louisville Gas And Electric Company, Rev., AMT, 1.30%, 09/01/2044 (z) | 1,000 | 849 | ||||||
Fayette County School District Finance Corp., Series A, Rev., 4.00%, 05/01/2038 | 3,000 | 2,702 | ||||||
Kentucky Bond Development Corp., Centre College, Rev., 4.00%, 06/01/2040 | 420 | 381 | ||||||
Kentucky Economic Development Finance Authority, Norton Healthcare, Inc., |
||||||||
Series B, Rev., NATL, Zero Coupon, 10/01/2026 | 3,930 | 3,404 | ||||||
Series B, Rev., NATL, Zero Coupon, 10/01/2027 | 1,995 | 1,652 | ||||||
Kentucky Economic Development Finance Authority, Senior Next Generation Information, Rev., 5.00%, 07/01/2040 | 5,000 | 4,882 | ||||||
Kentucky Housing Corp., Beecher Terrace Phase IV, Rev., HUD, 5.00%, 09/01/2043 (z) | 1,015 | 1,025 | ||||||
Kentucky Housing Corp., Cambridge Square Project, Rev., 0.30%, 08/01/2024 (z) | 575 | 566 | ||||||
Kentucky Housing Corp., New Hope Properties Portfolio, Rev., HUD, 0.41%, 04/01/2024 (z) | 275 | 275 | ||||||
Kentucky Public Energy Authority, |
||||||||
Series A1, Rev., 4.00%, 08/01/2052 (z) | 1,000 | 945 | ||||||
Series A2, Rev., (United States SOFR * 0.67 + 1.20%), 4.76%, 08/01/2052 (aa) | 2,500 | 2,371 | ||||||
Series A2, Rev., (ICE LIBOR USD 1 Month * 0.67 + 1.12%), 4.77%, 12/01/2049 (aa) | 1,000 | 996 | ||||||
Series C, Rev., 4.00%, 02/01/2050 (z) | 10,885 | 10,485 | ||||||
Kentucky Public Energy Authority, Gas Supply, |
||||||||
Series B, Rev., 4.00%, 07/01/2024 | 1,320 | 1,315 | ||||||
Series B, Rev., 4.00%, 01/01/2049 (z) | 12,385 | 12,269 | ||||||
Kentucky State University, Kentucky State University Project, |
||||||||
COP, BAM, 4.00%, 11/01/2033 | 145 | 145 | ||||||
COP, BAM, 4.00%, 11/01/2035 | 135 | 134 | ||||||
COP, BAM, 4.00%, 11/01/2036 | 155 | 151 | ||||||
COP, BAM, 4.00%, 11/01/2038 | 650 | 606 | ||||||
Louisville and Jefferson County Metropolitan Government, Louisville Gas And Electric Co. Project, Series A, Rev., 0.90%, 09/01/2026 | 2,750 | 2,437 | ||||||
Louisville and Jefferson County Metropolitan Government, Norton Healthcare, Inc., Rev., 5.00%, 10/01/2031 | 670 | 679 | ||||||
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric, Rev., 2.00%, 10/01/2033 | 1,000 | 737 | ||||||
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric Co. Project, Rev., AMT, 1.35%, 11/01/2027 | 2,000 | 1,717 | ||||||
Louisville/Jefferson County Metropolitan Government, Norton Healthcare Obligation Group, Rev., 5.75%, 10/01/2042 | 5,000 | 5,000 | ||||||
Louisville/Jefferson County Metropolitan Government, UofL Health Project, Series A, Rev., 5.00%, 05/15/2047 | 3,180 | 2,961 | ||||||
|
|
|||||||
74,193 | ||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Louisiana 1.4% |
||||||||
City of New Orleans Sewerage Service Revenue, Rev., 5.00%, 06/01/2045 (p) | 2,000 | 2,040 | ||||||
City of Shreveport, Water & Sewer Improvement, GO, 5.00%, 09/01/2032 (p) | 4,390 | 4,429 | ||||||
Consolidated Government of the City of Baton Rouge & Parish of East Baton Rouge, Sales Tax, Rev., AGM, 5.00%, 08/01/2027 | 1,400 | 1,459 | ||||||
East Baton Rouge Sewerage Commission, Series A, Rev., 1.30%, 02/01/2041 (z) | 4,500 | 3,672 | ||||||
Ernest N Morial New Orleans Exhibition Hall Authority, Special Tax, 5.25%, 07/15/2048 | 6,000 | 6,132 | ||||||
Lakeshore Villages Master Community Development District, Parish of St. Tammany, Special Assessment, 3.20%, 06/01/2041 (e) | 630 | 468 | ||||||
Louisiana Housing Corp., Hollywood Acres And Hollywood Heights Projects, Rev., 0.55%, 12/01/2023 | 165 | 164 | ||||||
Louisiana Housing Corp., Home Ownership Program, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 06/01/2054 | 400 | 418 | ||||||
Louisiana Housing Corp., Social Bonds Home Ownership Project, Rev., GNMA/FNMA/FHLMC, 5.00%, 06/01/2052 | 1,215 | 1,219 | ||||||
Louisiana Local Government Environmental Facilities & Community Development Authority, Entergy Louisiana LLC Project, | ||||||||
Rev., 2.00%, 06/01/2030 | 2,755 | 2,293 | ||||||
Rev., 2.50%, 04/01/2036 | 1,000 | 756 | ||||||
Louisiana Public Facilities Authority, Childrens Medical Center Project, Rev., 5.00%, 06/01/2045 (z) | 450 | 463 | ||||||
Louisiana Public Facilities Authority, Loyola University Project, Rev., 4.00%, 10/01/2038 | 2,560 | 2,272 | ||||||
Louisiana Public Facilities Authority, Ochsner Clinic Foundation, Series B, Rev., 5.00%, 05/15/2050 (z) | 1,100 | 1,108 | ||||||
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Rev., 5.00%, 05/15/2042 | 1,480 | 1,452 | ||||||
Louisiana Stadium & Exposition District, Senior Bonds, |
||||||||
Series A, Rev., 5.00%, 07/01/2042 | 5,460 | 5,597 | ||||||
Series A, Rev., 5.00%, 07/01/2048 | 2,500 | 2,520 | ||||||
Series A, Rev., 5.25%, 07/01/2053 | 7,500 | 7,663 | ||||||
New Orleans Aviation Board, |
||||||||
Series B, Rev., AMT, 5.00%, 01/01/2040 | 14,500 | 14,320 | ||||||
Series B, Rev., AMT, 5.00%, 01/01/2045 | 4,000 | 3,930 | ||||||
New Orleans Aviation Board, General Airport, Series D2, Rev., AMT, 5.00%, 01/01/2033 | 1,100 | 1,117 | ||||||
New Orleans Aviation Board, General Airport North Terminal, |
||||||||
Series B, Rev., AMT, 5.00%, 01/01/2038 | 1,000 | 1,001 | ||||||
Series B, Rev., AMT, 5.00%, 01/01/2048 | 5,000 | 4,901 | ||||||
Parish of St John the Baptist, Marathon Oil Corporation Project, Rev., 4.05%, 06/01/2037 (z) | 2,625 | 2,577 | ||||||
Parish of St. John the Baptist, Marathon Oil Corp. Project, Series B1, Rev., 2.13%, 06/01/2037 (z) | 875 | 859 | ||||||
Port New Orleans Board of Commissioners, Series E, Rev., AMT, 5.00%, 04/01/2039 | 1,170 | 1,136 | ||||||
St. Tammany Parish Hospital Service District No. 1, |
||||||||
Series A, Rev., 5.00%, 07/01/2032 | 1,615 | 1,670 | ||||||
Series A, Rev., 5.00%, 07/01/2034 | 1,655 | 1,709 | ||||||
State of Louisiana, Series A, GO, 5.00%, 03/01/2037 | 9,555 | 10,019 | ||||||
State of Louisiana Gasoline & Fuels Tax Revenue, Second Lien, Series A, Rev., (United States SOFR * 0.70 + 0.50%), 4.22%, 05/01/2043 (aa) | 1,130 | 1,103 | ||||||
State of Louisiana, Garvee, Rev., 5.00%, 09/01/2028 | 190 | 201 | ||||||
|
|
|||||||
88,668 | ||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Maine 0.2% |
||||||||
Finance Authority of Maine, Supplemental Educational Loan Program, |
||||||||
Series A1, Rev., AGM, AMT, 2.38%, 12/01/2033 | 705 | 576 | ||||||
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2023 | 165 | 165 | ||||||
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2024 | 75 | 76 | ||||||
Series A1, Rev., AGM, AMT, 5.00%, 12/01/2025 | 85 | 86 | ||||||
Maine Health & Higher Educational Facilities Authority, Series A, Rev., AGM, 4.38%, 07/01/2048 | 2,100 | 1,898 | ||||||
Maine State Housing Authority, Social Bonds, Series D, Rev., 3.00%, 11/15/2051 | 970 | 912 | ||||||
Maine Turnpike Authority, |
||||||||
Rev., 4.00%, 07/01/2045 | 9,000 | 7,925 | ||||||
Rev., 5.00%, 07/01/2028 | 2,000 | 2,135 | ||||||
|
|
|||||||
13,773 | ||||||||
|
|
|||||||
Maryland 1.3% |
||||||||
City of Baltimore, Water Project, Series A, Rev., 5.00%, 07/01/2050 | 3,200 | 3,267 | ||||||
City of Brunswick, Brunswick Crossing Special Tax, Special Tax, 4.00%, 07/01/2029 | 500 | 477 | ||||||
County of Baltimore, Series 83, GO, 5.00%, 03/01/2024 | 50 | 50 | ||||||
County of Howard, Series D, GO, 5.00%, 02/15/2030 | 3,000 | 3,179 | ||||||
County of Montgomery, Series B, GO, 4.00%, 11/01/2028 | 1,500 | 1,540 | ||||||
County of Montgomery, Trinity Health Credit Group, Rev., 4.00%, 12/01/2044 | 3,000 | 2,664 | ||||||
County of Prince Georges, Series A, GO, 5.00%, 07/01/2029 | 1,250 | 1,352 | ||||||
County of Prince Georges, Behavioral Health Facility, COP, 5.00%, 10/01/2023 | 650 | 650 | ||||||
County of Prince Georges, Chesapeake Lighthouse Obligations, Series A, Rev., 6.50%, 08/01/2035 (e) (p) | 750 | 787 | ||||||
Maryland Community Development Administration, |
||||||||
Series B, Rev., 3.00%, 09/01/2051 | 145 | 136 | ||||||
Series D, Rev., 3.25%, 09/01/2050 | 2,265 | 2,163 | ||||||
Maryland Community Development Administration, Community Dev Admin Social Bonds, Rev., GNMA/FNMA/FHLMC COLL, 4.95%, 09/01/2042 | 1,430 | 1,425 | ||||||
Maryland Community Development Administration, Residential, Series B, Rev., AMT, 4.50%, 09/01/2048 | 1,375 | 1,347 | ||||||
Maryland Community Development Administration, Social Bonds, |
||||||||
Series C, Rev., 3.00%, 09/01/2051 | 2,366 | 2,221 | ||||||
Series C, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 09/01/2054 | 450 | 468 | ||||||
Maryland Economic Development Corp., Green Bond Purple Line Light, Rev., AMT, 5.25%, 06/30/2052 | 2,000 | 1,915 | ||||||
Maryland Economic Development Corp., Green Bond, Purple Line, Rev., AMT, 5.25%, 06/30/2047 | 1,300 | 1,257 | ||||||
Maryland Economic Development Corp., Morgan State University Project, |
||||||||
Rev., 4.00%, 07/01/2040 | 665 | 590 | ||||||
Rev., 5.38%, 07/01/2038 | 1,250 | 1,303 | ||||||
Maryland Economic Development Corp., Port Covington Project, |
||||||||
Tax Allocation, 3.25%, 09/01/2030 | 1,405 | 1,274 | ||||||
Tax Allocation, 4.00%, 09/01/2040 | 2,280 | 1,907 | ||||||
Maryland Economic Development Corp., Transportation Facilities Project, Series A, Rev., 5.00%, 06/01/2035 | 1,000 | 1,014 | ||||||
Maryland Health & Higher Educational Facilities Authority, Adventist Healthcare, |
||||||||
Rev., 4.00%, 01/01/2038 | 2,020 | 1,676 | ||||||
Rev., 5.00%, 01/01/2025 | 470 | 471 | ||||||
Rev., 5.00%, 01/01/2036 | 4,580 | 4,500 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Maryland continued | ||||||||
Maryland Health & Higher Educational Facilities Authority, Lifebridge Health, Rev., 4.00%, 07/01/2041 | 2,315 | 2,021 | ||||||
Maryland Health & Higher Educational Facilities Authority, Medstar Health Issue, |
||||||||
Series A, Rev., 5.00%, 05/15/2042 | 3,000 | 2,983 | ||||||
Series A, Rev., 5.00%, 05/15/2045 | 4,000 | 3,932 | ||||||
Series B, Rev., 5.00%, 08/15/2038 | 1,000 | 980 | ||||||
Maryland Health & Higher Educational Facilities Authority, Meritus Medical Center, Rev., 5.00%, 07/01/2028 | 1,300 | 1,310 | ||||||
Maryland Stadium Authority Built to Learn Revenue, |
||||||||
Rev., 4.00%, 06/01/2035 | 2,000 | 1,956 | ||||||
Rev., 4.00%, 06/01/2036 | 2,125 | 2,030 | ||||||
Series A, Rev., 5.00%, 06/01/2033 | 1,375 | 1,500 | ||||||
State of Maryland, Series B, GO, 5.00%, 08/01/2026 | 1,000 | 1,038 | ||||||
State of Maryland Department of Transportation, Rev., 3.00%, 10/01/2030 | 1,500 | 1,395 | ||||||
State of Maryland Department of Transportation, Baltimore Washington International, |
||||||||
Rev., AMT, 4.00%, 08/01/2038 | 965 | 888 | ||||||
Rev., AMT, 4.00%, 08/01/2039 | 1,160 | 1,061 | ||||||
State of Maryland, Bidding Group 1, Series A, GO, 5.00%, 03/15/2030 | 1,495 | 1,629 | ||||||
State of Maryland, Group 1, Series A, GO, 5.00%, 08/01/2028 | 1,500 | 1,605 | ||||||
State of Maryland, Local Facilities Loan, Series A, GO, 5.00%, 08/01/2028 | 5,000 | 5,350 | ||||||
State of Maryland, State & Local Facilities Loan of 2022, GO, 5.00%, 06/01/2033 | 1,000 | 1,110 | ||||||
State of Maryland, State and Local Facilities Loan, Series A, GO, 5.00%, 06/01/2036 | 1,500 | 1,635 | ||||||
Washington Suburban Sanitary Commission, |
||||||||
Rev., CNTY GTD, 5.00%, 06/01/2029 | 2,000 | 2,161 | ||||||
Rev., CNTY GTD, 5.00%, 06/01/2039 | 9,080 | 9,734 | ||||||
Washington Suburban Sanitary Commission, Consolidated Public Improvement, Rev., CNTY GTD, 5.00%, 06/01/2029 | 1,500 | 1,597 | ||||||
|
|
|||||||
83,548 | ||||||||
|
|
|||||||
Massachusetts 1.2% |
||||||||
Boston Water & Sewer Commission, Senior Bonds, Series B, Rev., 4.00%, 11/01/2039 | 1,570 | 1,537 | ||||||
Commonwealth of Massachusetts, |
||||||||
Rev., NATL, 5.50%, 01/01/2034 | 1,500 | 1,663 | ||||||
Series E, GO, 5.00%, 11/01/2047 | 5,000 | 5,199 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue, Rail Enhancement Project, Series B, Rev., 5.00%, 06/01/2025 | 375 | 383 | ||||||
Commonwealth of Massachusetts, Consolidated Loans, Series E, GO, 5.00%, 11/01/2050 | 2,175 | 2,233 | ||||||
Massachusetts Development Finance Agency, Emerson College, Series A, Rev., 5.00%, 01/01/2047 | 3,075 | 2,885 | ||||||
Massachusetts Development Finance Agency, Green Bond, Boston Medical Center, Rev., 5.00%, 07/01/2044 | 1,150 | 1,108 | ||||||
Massachusetts Development Finance Agency, Harvard University Issue, Series A, Rev., 5.00%, 10/15/2030 | 1,000 | 1,108 | ||||||
Massachusetts Development Finance Agency, Lahey Health System, Series F, Rev., 5.00%, 08/15/2045 | 10,000 | 9,947 | ||||||
Massachusetts Development Finance Agency, Milford Regional Medical Center, Rev., 5.00%, 07/15/2046 (e) | 1,000 | 809 | ||||||
Massachusetts Development Finance Agency, Northeastern University Issue, Rev., 5.00%, 10/01/2044 | 2,000 | 2,082 | ||||||
Massachusetts Development Finance Agency, Partners Healthcare System, Rev., (SIFMA Municipal Swap Index + 0.60%), 4.58%, 07/01/2049 (e) (aa) | 100 | 99 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Massachusetts continued | ||||||||
Massachusetts Development Finance Agency, Suffolk University Project, Rev., 4.00%, 07/01/2051 | 1,250 | 946 | ||||||
Massachusetts Development Finance Agency UMass Memorial Health Care, Rev., 5.00%, 07/01/2044 | 1,000 | 956 | ||||||
Massachusetts Educational Financing Authority, |
||||||||
Series B, Rev., AMT, 2.63%, 07/01/2036 | 300 | 290 | ||||||
Series B, Rev., AMT, 5.00%, 07/01/2024 | 615 | 617 | ||||||
Series I, Rev., AMT, 5.00%, 01/01/2025 | 3,000 | 3,018 | ||||||
Massachusetts Educational Financing Authority, Educational Loan Revenue Bonds, Rev., AMT, 2.00%, 07/01/2037 | 180 | 144 | ||||||
Massachusetts Educational Financing Authority, Senior Bonds, Series B, Rev., AMT, 4.25%, 07/01/2044 | 305 | 283 | ||||||
Massachusetts Educational Financing Authority, Senior Issue M, Series B, Rev., AMT, 3.63%, 07/01/2038 | 1,030 | 867 | ||||||
Massachusetts Health & Educational Facilities Authority, Massachusetts Institute Technology, Series J2, Rev., VRDO, 3.85%, 10/06/2023 (z) | 4,015 | 4,015 | ||||||
Massachusetts Housing Finance Agency, Social Bond, |
||||||||
Series 220, Rev., GNMA/FNMA/FHLMC, 3.00%, 12/01/2050 | 3,195 | 3,027 | ||||||
Series 220, Rev., GNMA/FNMA/FHLMC, 5.00%, 12/01/2023 | 500 | 501 | ||||||
Massachusetts Housing Finance Agency, Social Bonds, |
||||||||
Series 223, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2047 | 960 | 906 | ||||||
Series 227, Rev., GNMA/FNMA/FHLMC COLL, 4.70%, 12/01/2043 | 2,250 | 2,188 | ||||||
Massachusetts Housing Finance Agency, Sustainability Bond, |
||||||||
Series B2, Rev., 0.75%, 06/01/2025 | 115 | 108 | ||||||
Series C1, Rev., 2.65%, 12/01/2034 | 1,000 | 824 | ||||||
Series D3, Rev., FHA HUD, 3.35%, 06/01/2027 | 650 | 622 | ||||||
Massachusetts Housing Finance Agency, Sustainability Bonds, |
||||||||
Series A2, Rev., HUD, 0.30%, 12/01/2023 | 105 | 104 | ||||||
Series A2, Rev., HUD, 0.40%, 06/01/2024 | 140 | 136 | ||||||
Massachusetts Port Authority, |
||||||||
Series E, Rev., AMT, 5.00%, 07/01/2031 | 1,495 | 1,570 | ||||||
Series E, Rev., AMT, 5.00%, 07/01/2032 | 2,000 | 2,099 | ||||||
Massachusetts Port Authority, Green Bonds, |
||||||||
Series A, Rev., AMT, 5.00%, 07/01/2031 | 925 | 971 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2038 | 2,580 | 2,631 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2040 | 3,500 | 3,541 | ||||||
Massachusetts School Building Authority, Sales Tax, Series A, Rev., 5.00%, 11/15/2027 | 1,105 | 1,131 | ||||||
Massachusetts School Building Authority, Subordinated, Series A, Rev., 5.00%, 02/15/2036 (p) | 7,190 | 7,220 | ||||||
Massachusetts Water Resources Authority, Green Bond, Series B, Rev., 5.00%, 08/01/2026 | 1,000 | 1,038 | ||||||
University of Massachusetts Building Authority, Series 2021, Rev., 5.00%, 11/01/2026 | 5,000 | 5,207 | ||||||
|
|
|||||||
74,013 | ||||||||
|
|
|||||||
Michigan 1.6% |
||||||||
City of Detroit Sewage Disposal System Revenue, Floating Rate Notes Refunding System Libor D, Rev., AGM, (CME Term SOFR 3 Month * 0.67 + 0.60%), 4.29%, 07/01/2032 (aa) | 1,000 | 928 | ||||||
City of Detroit, Social Bonds, |
||||||||
Series A, GO, 4.00%, 04/01/2041 | 500 | 412 | ||||||
Series A, GO, 5.00%, 04/01/2039 | 115 | 113 | ||||||
Series A, GO, 5.00%, 04/01/2046 | 35 | 33 | ||||||
Series A, GO, 5.00%, 04/01/2050 | 30 | 27 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Michigan continued | ||||||||
Detroit Downtown Development Authority, Catalyst Development Project, |
||||||||
Series A, Tax Allocation, AGM, 5.00%, 07/01/2043 | 1,000 | 979 | ||||||
Series A, Tax Allocation, AGM, 5.00%, 07/01/2048 | 2,500 | 2,440 | ||||||
Gerald R Ford International Airport Authority, |
||||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2026 | 225 | 230 | ||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2027 | 350 | 360 | ||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2028 | 275 | 285 | ||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2029 | 600 | 626 | ||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2034 | 1,140 | 1,211 | ||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2038 | 1,300 | 1,338 | ||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2039 | 1,000 | 1,025 | ||||||
Rev., CNTY GTD, AMT, 5.00%, 01/01/2040 | 1,125 | 1,144 | ||||||
Great Lakes Water Authority Sewage Disposal System Revenue, Senior Lien, |
||||||||
Series B, Rev., 5.00%, 07/01/2025 | 1,115 | 1,135 | ||||||
Series B, Rev., 5.00%, 07/01/2028 | 140 | 148 | ||||||
Great Lakes Water Authority Water Supply System Revenue, Taxable Senior Lien, Series C, Rev., 2.19%, 07/01/2027 | 3,000 | 2,696 | ||||||
Great Lakes Water Authority, Sewage Disposal System, Second Lien, Series C, Rev., 5.00%, 07/01/2032 | 75 | 77 | ||||||
Great Lakes Water Authority, Sewage Disposal System, Senior Lien, Series B, Rev., 5.00%, 07/01/2030 | 3,200 | 3,289 | ||||||
Lansing Board of Water & Light, Series A, Rev., 5.00%, 07/01/2048 | 1,675 | 1,688 | ||||||
Michigan Finance Authority, |
||||||||
Rev., 5.00%, 11/15/2023 (p) | 1,375 | 1,377 | ||||||
Series A, Rev., 4.00%, 12/01/2049 | 1,000 | 847 | ||||||
Michigan Finance Authority, Aquinas College Project, |
||||||||
Rev., 5.00%, 05/01/2036 | 300 | 262 | ||||||
Rev., 5.00%, 05/01/2046 | 2,000 | 1,555 | ||||||
Michigan Finance Authority, Beaumont Spectrum, |
||||||||
Rev., 4.00%, 04/15/2042 | 2,500 | 2,236 | ||||||
Rev., 5.00%, 04/15/2030 | 3,000 | 3,200 | ||||||
Michigan Finance Authority, Che Trinity Health, Rev., 4.00%, 12/01/2040 (p) | 95 | 97 | ||||||
Michigan Finance Authority, Henry Ford Health System, Series A, Rev., 5.00%, 11/15/2048 | 5,000 | 4,843 | ||||||
Michigan Finance Authority, Higher Educational Facilities Authority, |
||||||||
Rev., 5.00%, 09/01/2032 | 690 | 718 | ||||||
Rev., 5.00%, 09/01/2033 | 800 | 828 | ||||||
Rev., 5.00%, 09/01/2034 | 570 | 590 | ||||||
Rev., 5.00%, 09/01/2035 | 1,200 | 1,236 | ||||||
Michigan Finance Authority, Local Government Loan Program, Rev., 5.00%, 07/01/2044 | 4,000 | 3,642 | ||||||
Michigan Finance Authority, Multi Modal McLaren Health Care, |
||||||||
Rev., 4.00%, 02/15/2044 | 9,625 | 8,411 | ||||||
Rev., 4.00%, 02/15/2050 | 2,500 | 2,065 | ||||||
Michigan Finance Authority, Senior Lien Great Lakes, Rev., 5.00%, 07/01/2033 | 5,000 | 5,025 | ||||||
Michigan Finance Authority, Senior Turbo, Series A2, Rev., 5.00%, 06/01/2040 | 1,655 | 1,689 | ||||||
Michigan Finance Authority, Sparrow Obligated Group, Rev., 5.00%, 11/15/2045 | 2,250 | 2,078 | ||||||
Michigan Finance Authority, Sparrow Obligation Group, Rev., 5.00%, 11/15/2045 (p) | 2,750 | 2,802 | ||||||
Michigan Finance Authority, Trinity Health Credit Group, Rev., 5.00%, 12/01/2036 | 1,000 | 1,027 | ||||||
Michigan State Building Authority, Series I, Rev., 5.00%, 10/15/2027 | 2,500 | 2,626 | ||||||
Michigan State Building Authority, Facilities Program, |
||||||||
Series II, Rev., 4.00%, 10/15/2043 | 1,000 | 912 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Michigan continued | ||||||||
Series II, Rev., 5.00%, 10/15/2026 | 3,500 | 3,625 | ||||||
Series II, Rev., 5.00%, 10/15/2042 | 1,350 | 1,414 | ||||||
Michigan State Hospital Finance Authority, Hospital Trinity Health Credit, Series C, Rev., 5.00%, 12/01/2027 | 100 | 105 | ||||||
Michigan State Housing Development Authority, |
||||||||
Series A, Rev., 0.55%, 04/01/2025 | 375 | 353 | ||||||
Series C, Rev., 3.00%, 06/01/2051 | 2,220 | 2,096 | ||||||
Michigan State Housing Development Authority, Carpenter Place Apartments, Rev., HUD, 1.25%, 12/01/2024 (z) | 495 | 492 | ||||||
Michigan State Housing Development Authority, Social Bond, |
||||||||
Series A, Rev., 3.00%, 06/01/2052 | 3,610 | 3,394 | ||||||
Series A, Rev., 5.00%, 06/01/2053 | 2,350 | 2,360 | ||||||
Michigan State Housing Development Authority, Social Bonds, |
||||||||
Series A, Rev., 5.50%, 12/01/2053 | 1,305 | 1,350 | ||||||
Series D, Rev., 5.50%, 06/01/2053 | 345 | 353 | ||||||
Michigan State University, Series C, Rev., 4.00%, 02/15/2039 | 2,000 | 1,875 | ||||||
Michigan Strategic Fund, Consumers Energy Co. Project, Rev., AMT, 0.88%, 04/01/2035 (z) | 1,620 | 1,402 | ||||||
Michigan Strategic Fund, Detroit Edison Co. Exempt, Rev., 1.35%, 08/01/2029 | 3,450 | 2,832 | ||||||
Michigan Strategic Fund, Detroit Edison Company, Rev., 1.45%, 09/01/2030 | 810 | 645 | ||||||
Michigan Strategic Fund, Green Bond Recycling, Rev., AMT, 4.00%, 10/01/2061 (z) | 1,685 | 1,653 | ||||||
State of Michigan, Environmental Program Bonds, Series A, GO, 5.00%, 05/15/2030 | 400 | 436 | ||||||
State of Michigan, Gans Garvee, Rev., GAN, 5.00%, 03/15/2027 | 2,000 | 2,091 | ||||||
Troy School District, GO, Q-SBLF, 5.00%, 05/01/2039 | 1,025 | 1,080 | ||||||
Wayne County Airport Authority, Series F, Rev., AMT, 5.00%, 12/01/2034 | 1,470 | 1,474 | ||||||
Wayne County Airport Authority, Detroit Metropolitan Wayne County Airport, Series B, Rev., BAM, 5.00%, 12/01/2039 | 3,000 | 3,000 | ||||||
|
|
|||||||
100,280 | ||||||||
|
|
|||||||
Minnesota 0.8% |
||||||||
City of Minneapolis, Allina Health System, |
||||||||
Series A, Rev., 5.00%, 11/15/2052 (z) | 1,000 | 1,038 | ||||||
Series B, Rev., 5.00%, 11/15/2053 (z) | 2,650 | 2,773 | ||||||
City of Minneapolis, St. Paul Housing & Redevelopment Authority, Allina Health System, Rev., 5.00%, 11/15/2026 | 2,000 | 2,065 | ||||||
County of Hennepin, Series C, GO, 5.00%, 12/15/2032 | 1,500 | 1,612 | ||||||
Duluth Economic Development Authority, Essentia Health Obligation Group, Rev., 5.25%, 02/15/2058 | 1,000 | 930 | ||||||
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Fairview Health Services, Series A, Rev., 5.00%, 11/15/2047 | 9,000 | 8,716 | ||||||
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Hope Community Academy Project, Series A, Rev., 5.00%, 12/01/2043 | 1,000 | 829 | ||||||
Minneapolis St. Paul Metropolitan Airports Commission, Subordinate, |
||||||||
Series B, Rev., AMT, 5.00%, 01/01/2034 | 1,345 | 1,400 | ||||||
Series B, Rev., AMT, 5.25%, 01/01/2047 | 1,845 | 1,867 | ||||||
Minnesota Housing Finance Agency, |
||||||||
Series B, Rev., GNMA/FNMA/FHLMC, 2.63%, 01/01/2040 | 1,920 | 1,528 | ||||||
Series B, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051 | 1,015 | 957 | ||||||
Series C, Rev., 5.00%, 08/01/2032 | 2,365 | 2,536 | ||||||
Series D, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052 | 1,615 | 1,519 | ||||||
Series G, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2051 | 3,095 | 2,932 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Minnesota continued |
||||||||
Series I, Rev., GNMA/FNMA/FHLMC, 2.80%, 12/01/2047 | 319 | 280 | ||||||
Series I, Rev., 3.00%, 01/01/2051 | 1,630 | 1,542 | ||||||
Minnesota Housing Finance Agency, Social Bond, Series H, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052 | 390 | 366 | ||||||
Minnesota Housing Finance Agency, Social Bonds, |
||||||||
Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052 | 1,110 | 1,039 | ||||||
Series F, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052 | 240 | 225 | ||||||
Series F, Rev., GNMA/FNMA/FHLMC, 5.75%, 07/01/2053 | 405 | 421 | ||||||
Minnesota Housing Finance Agency, State Appropriation Bond Housing, Rev., 5.00%, 08/01/2029 | 1,245 | 1,325 | ||||||
Minnesota Municipal Gas Agency, Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2052 (z) | 4,370 | 4,248 | ||||||
Minnesota Office of Higher Education, Supplemental Student Loan, Rev., AMT, 4.00%, 11/01/2037 | 665 | 645 | ||||||
St. Paul Port Authority, Solid Gerdau St. Paul Steel Mill Project, Rev., AMT, 4.50%, 10/01/2037 (e) | 4,500 | 4,164 | ||||||
State of Minnesota, |
||||||||
Series A, GO, 4.00%, 09/01/2037 | 690 | 680 | ||||||
Series A, GO, 5.00%, 08/01/2026 | 250 | 259 | ||||||
Series A, GO, 5.00%, 08/01/2028 | 1,000 | 1,069 | ||||||
Series A, GO, 5.00%, 10/01/2029 | 45 | 48 | ||||||
Series A, GO, 5.00%, 10/01/2032 | 1,000 | 1,049 | ||||||
Series A, GO, 5.00%, 08/01/2033 | 2,000 | 2,069 | ||||||
Series A, GO, 5.00%, 08/01/2034 | 2,000 | 2,114 | ||||||
Series E, GO, 3.00%, 08/01/2026 | 710 | 685 | ||||||
|
|
|||||||
52,930 | ||||||||
|
|
|||||||
Mississippi 0.1% |
||||||||
Mississippi Business Finance Corp., System Energy Resources, Inc. Project, Rev., 2.38%, 06/01/2044 | 175 | 100 | ||||||
Mississippi Development Bank, Hinds County School District Project, Rev., 5.00%, 03/01/2048 | 1,360 | 1,367 | ||||||
Mississippi Home Corp., Social Bond, Series C, Rev., GNMA/FNMA/FHLMC COLL, 5.00%, 12/01/2052 | 180 | 181 | ||||||
Mississippi Home Corp., Southwest Village Apartments Project, Rev., HUD, 2.00%, 02/01/2025 (z) | 2,970 | 2,946 | ||||||
Mississippi Hospital Equipment & Facilities Authority, Baptist Memorial Health Care, Rev., 5.00%, 09/01/2044 (z) | 250 | 253 | ||||||
|
|
|||||||
4,847 | ||||||||
|
|
|||||||
Missouri 0.6% |
||||||||
Cape Girardeau County Industrial Development Authority, Southeasthealth, Rev., 4.00%, 03/01/2041 | 870 | 724 | ||||||
City of St. Louis Airport Revenue, St. Louis Lambert International, Rev., 5.00%, 07/01/2048 | 1,000 | 1,007 | ||||||
Curators of the University of Missouri (The), |
||||||||
Series A, Rev., 4.00%, 11/01/2034 | 2,500 | 2,381 | ||||||
Series A, Rev., 4.00%, 11/01/2035 | 1,000 | 938 | ||||||
Health & Educational Facilities Authority of the State of Missouri, Series C, Rev., 5.00%, 05/01/2052 (z) | 2,695 | 2,818 | ||||||
Health & Educational Facilities Authority of the State of Missouri, Lukes Health System, Rev., 4.00%, 11/15/2038 | 2,000 | 1,794 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Missouri continued | ||||||||
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Service Projects, Series A, Rev., 5.00%, 02/01/2029 | 1,410 | 1,400 | ||||||
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Services, Rev., 4.00%, 02/01/2034 | 500 | 451 | ||||||
Kansas City Industrial Development Authority, Rev., AMT, 5.00%, 03/01/2032 | 900 | 928 | ||||||
Kansas City Industrial Development Authority, Kansas City International Airport, |
||||||||
Rev., AMT, 4.00%, 03/01/2036 | 1,250 | 1,171 | ||||||
Rev., AMT, 4.00%, 03/01/2040 | 2,500 | 2,206 | ||||||
Rev., AMT, 5.00%, 03/01/2029 | 3,050 | 3,142 | ||||||
Rev., AMT, 5.00%, 03/01/2038 | 2,480 | 2,477 | ||||||
Kansas City Industrial Development Authority, Kansas City International Airport, Rev., AMT, 5.00%, 03/01/2044 | 5,000 | 4,910 | ||||||
Missouri Development Finance Board, Procter & Gamble Paper Products, Rev., AMT, 5.20%, 03/15/2029 | 370 | 394 | ||||||
Missouri Housing Development Commission, First Place Homeownership Loan, |
||||||||
Rev., GNMA/FNMA/FHLMC, 3.00%, 05/01/2052 | 3,680 | 3,465 | ||||||
Rev., GNMA/FNMA/FHLMC, 3.25%, 11/01/2052 | 420 | 398 | ||||||
Series D, Rev., GNMA/FNMA/FHLMC, 3.25%, 05/01/2051 | 5 | 5 | ||||||
Missouri State Environmental Improvement & Energy Resources Authority, Union Electric Company Project, Series AR, Rev., 2.90%, 09/01/2033 | 2,000 | 1,763 | ||||||
Plaza at Noahs Ark Community Improvement District, Rev., 3.00%, 05/01/2030 | 575 | 505 | ||||||
St. Charles County Industrial Development Authority, Hidden Valley Estates, Rev., HUD, 0.27%, 08/01/2025 (z) | 1,290 | 1,290 | ||||||
St. Louis Municipal Finance Corp., Convention Center Expansion, Rev., AGM, 5.00%, 10/01/2045 | 3,215 | 3,199 | ||||||
State of Missouri, Health & Educational Facilities, St. Lukes Health System, Inc., Rev., 5.00%, 11/15/2023 | 290 | 290 | ||||||
|
|
|||||||
37,656 | ||||||||
|
|
|||||||
Montana 0.1% |
||||||||
City of Forsyth, Northwestern Corp. Colstrip, Rev., 3.88%, 07/01/2028 | 3,275 | 3,123 | ||||||
Montana Board of Housing, |
||||||||
Rev., 3.00%, 12/01/2050 | 2,880 | 2,735 | ||||||
Series A, Rev., 3.00%, 06/01/2052 | 350 | 328 | ||||||
Series B2, Rev., AMT, 3.50%, 12/01/2042 | 265 | 260 | ||||||
Series B, Rev., 3.00%, 12/01/2051 | 1,180 | 1,112 | ||||||
Montana Facility Finance Authority, Rev., 5.00%, 02/15/2033 |
1,000 | 1,011 | ||||||
|
|
|||||||
8,569 | ||||||||
|
|
|||||||
Nebraska 0.3% | ||||||||
Central Plains Energy Project, | ||||||||
Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2049 (z) | 4,000 | 3,948 | ||||||
Series 1, Rev., 5.00%, 05/01/2053 (z) | 3,915 | 3,896 | ||||||
Central Plains Energy Project, Project #4, Series A1, Rev., 5.00%, 05/01/2054 (z) | 2,675 | 2,706 | ||||||
County of Douglas, Creighton University Project, Rev., (SIFMA Municipal Swap Index + 0.53%), 4.51%, 07/01/2035 (aa) | 2,210 | 2,179 | ||||||
County of Washington, Cargill, Inc. Project, Rev., AMT, 0.90%, 09/01/2030 (z) | 350 | 328 | ||||||
Douglas County Hospital Authority No. 2, Health Facilities Childrens Hospital, Rev., 5.00%, 11/15/2047 | 3,000 | 2,865 | ||||||
Douglas County Hospital Authority No. 2, Madonna Rehabilitation Hospital, Rev., 4.00%, 05/15/2033 | 2,100 | 1,854 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Nebraska continued | ||||||||
Douglas County, Hospital Authority No. 2, Childrens Hospital Obligated Group, Rev., 5.00%, 11/15/2053 (z) | 2,190 | 2,212 | ||||||
Nebraska Educational Health Cultural & Social Services Finance Authority, Immanuel Obligated Group, Rev., 4.00%, 01/01/2037 | 1,000 | 915 | ||||||
Nebraska Public Power District, Series A, Rev., 5.00%, 07/01/2028 | 300 | 315 | ||||||
University of Nebraska, University Nebraska Lincoln Student, Rev., 3.00%, 07/01/2035 (p) | 1,030 | 1,011 | ||||||
|
|
|||||||
22,229 | ||||||||
|
|
|||||||
Nevada 1.0% | ||||||||
City of Carson City, Carson Tahoe Regional Medical Center, Rev., 5.00%, 09/01/2047 | 1,000 | 909 | ||||||
City of Las Vegas Special Improvement District No. 612 Skye Hills, Special Assessment, 3.50%, 06/01/2035 | 205 | 161 | ||||||
City of North Las Vegas, GO, BAM, 5.00%, 06/01/2027 | 2,000 | 2,090 | ||||||
Clark County School District, | ||||||||
Series A, GO, AGM, 4.00%, 06/15/2040 | 1,375 | 1,252 | ||||||
Series B, GO, 5.00%, 06/15/2030 | 1,445 | 1,548 | ||||||
Series C, GO, 5.00%, 06/15/2026 | 1,250 | 1,285 | ||||||
Clark County School District, Building, | ||||||||
Series A, GO, 5.00%, 06/15/2029 | 500 | 524 | ||||||
Series B, GO, AGM-CR, 5.00%, 06/15/2033 | 3,000 | 3,158 | ||||||
County of Clark Department of Aviation, Airport Systems, Subordinate, Rev., 5.00%, 07/01/2033 | 1,010 | 1,095 | ||||||
County of Clark Department of Aviation, Jet Aviation Fuel Tax, Rev., AMT, 5.00%, 07/01/2025 | 1,625 | 1,642 | ||||||
County of Clark Department of Aviation, Subordinate, Series B, Rev., AMT, 5.00%, 07/01/2027 | 6,000 | 6,124 | ||||||
County of Clark Department of Aviation, System Senior, Series A, Rev., 5.00%, 07/01/2040 | 2,000 | 2,005 | ||||||
County of Clark Passenger Facility Charge Revenue, McCarran International, | ||||||||
Rev., 5.00%, 07/01/2029 | 5,000 | 5,352 | ||||||
Rev., 5.00%, 07/01/2031 | 1,950 | 2,060 | ||||||
Rev., 5.00%, 07/01/2032 | 2,385 | 2,520 | ||||||
County of Clark, Detention Center, GO, 4.00%, 06/01/2034 | 3,335 | 3,330 | ||||||
County of Clark, Passenger Facility Charge Revenue, Las Vegas McCarran International Airport, Rev., 5.00%, 07/01/2030 | 1,425 | 1,510 | ||||||
County of Clark, Southern CA Edison Company, Rev., 2.10%, 06/01/2031 | 1,000 | 779 | ||||||
County of Clark, Streets and Highway Project, Rev., 4.00%, 07/01/2043 | 4,465 | 4,019 | ||||||
Las Vegas Convention & Visitors Authority, | ||||||||
Series A, Rev., 5.00%, 07/01/2027 | 900 | 939 | ||||||
Series A, Rev., 5.00%, 07/01/2028 | 1,250 | 1,318 | ||||||
Series A, Rev., 5.00%, 07/01/2040 | 250 | 259 | ||||||
Series B, Rev., 5.00%, 07/01/2029 | 1,345 | 1,433 | ||||||
Series B, Rev., 5.00%, 07/01/2034 | 1,275 | 1,384 | ||||||
Series B, Rev., 5.00%, 07/01/2043 | 5,150 | 5,220 | ||||||
Las Vegas Valley Water District, | ||||||||
Series A, GO, 5.00%, 06/01/2026 | 1,500 | 1,551 | ||||||
Series C, GO, 5.00%, 06/01/2032 | 1,560 | 1,727 | ||||||
Series D, GO, 5.00%, 06/01/2027 | 2,025 | 2,127 | ||||||
Las Vegas Valley Water District, Water Improvement, Series A, GO, 5.00%, 06/01/2046 | 5,000 | 5,031 | ||||||
Las Vegas Valley, Water District, Series B, GO, 5.00%, 12/01/2023 | 70 | 70 | ||||||
State of Nevada Department of Business & Industry, Brightline West Passenger Rail, Rev., AMT, 3.70%, 01/01/2050 (e) (z) | 915 | 910 | ||||||
|
|
|||||||
63,332 | ||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New Hampshire 0.2% | ||||||||
New Hampshire Business Finance Authority, Municipal Certificates, Series 1A, Rev., 4.13%, 01/20/2034 | 946 | 880 | ||||||
New Hampshire Business Finance Authority, Social Bond, Series 2022-1, Rev., 4.38%, 09/20/2036 | 654 | 605 | ||||||
New Hampshire Business Finance Authority, Caritas Oregon Project, Series A, Rev., 4.13%, 08/15/2040 (e) | 2,000 | 1,593 | ||||||
New Hampshire Business Finance Authority, Presbyterian Senior Living Project, Rev., 5.25%, 07/01/2048 | 750 | 706 | ||||||
New Hampshire Business Finance Authority, Saint Lukes University Health, Rev., 4.00%, 08/15/2036 | 720 | 643 | ||||||
New Hampshire Business Finance Authority, Springpoint Senior Living, | ||||||||
Rev., 4.00%, 01/01/2026 | 270 | 263 | ||||||
Rev., 4.00%, 01/01/2027 | 250 | 241 | ||||||
Rev., 4.00%, 01/01/2028 | 290 | 276 | ||||||
Rev., 4.00%, 01/01/2029 | 300 | 282 | ||||||
Rev., 4.00%, 01/01/2030 | 280 | 260 | ||||||
Rev., 4.00%, 01/01/2031 | 290 | 266 | ||||||
New Hampshire Business Finance Authority, Taxable Virginia Birmingham Care Center, Rev., 3.78%, 01/01/2036 | 2,000 | 1,489 | ||||||
New Hampshire Business Finance Authority, University of Nevada, Reno Project, Rev., BAM, 5.25%, 06/01/2051 | 1,875 | 1,943 | ||||||
New Hampshire Business Finance Authority, Waste Management, Inc. Project, Rev., AMT, (SIFMA Municipal Swap Index + 0.38%), 4.36%, 10/01/2033 (aa) | 4,170 | 4,110 | ||||||
New Hampshire Housing Finance Authority, Social Bonds, Series A, Rev., GNMA/FNMA/FHLMC COLL, 6.00%, 07/01/2053 | 435 | 455 | ||||||
|
|
|||||||
14,012 | ||||||||
|
|
|||||||
New Jersey 2.9% | ||||||||
Camden County Improvement Authority, Social Bonds, KIPP Cooper Norcross Academy, | ||||||||
Rev., 6.00%, 06/15/2042 | 530 | 558 | ||||||
Rev., 6.00%, 06/15/2047 | 1,000 | 1,042 | ||||||
City of Bayonne, Qualified General Improvement, GO, BAM, 5.00%, 07/01/2034 (p) | 1,000 | 1,036 | ||||||
City of Newark, Series A, GO, AGM, 5.00%, 10/01/2028 | 750 | 785 | ||||||
Garden State Preservation Trust, Capital Appreciation, Series B, Rev., AGM, Zero Coupon, 11/01/2026 | 1,000 | 882 | ||||||
Gloucester County Improvement Authority, The Rowan University Fossil Park, | ||||||||
Rev., BAM, 4.00%, 07/01/2046 | 725 | 637 | ||||||
Rev., BAM, 4.00%, 07/01/2051 | 1,000 | 859 | ||||||
New Brunswick Parking Authority, City Guaranteed Parking, Series A, Rev., BAM, 5.00%, 09/01/2026 | 1,000 | 1,030 | ||||||
New Jersey Building Authority, Prerefunded Refunding, Series A, Rev., BAM, 5.00%, 06/15/2025 (p) | 1,000 | 1,020 | ||||||
New Jersey Economic Development Authority, | ||||||||
Rev., 5.00%, 03/01/2028 | 785 | 819 | ||||||
Series A, Rev., 5.00%, 11/01/2027 | 2,500 | 2,594 | ||||||
Series AAA, Rev., 5.00%, 06/15/2036 | 1,000 | 1,010 | ||||||
Series AAA, Rev., 5.00%, 06/15/2041 (p) | 500 | 521 | ||||||
Series AAA, Rev., 5.50%, 06/15/2028 | 5,000 | 5,199 | ||||||
Series AAA, Rev., 5.50%, 06/15/2032 (p) | 2,000 | 2,116 | ||||||
Series B, Rev., 5.00%, 11/01/2023 | 75 | 75 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New Jersey continued | ||||||||
Series DDD, Rev., 5.00%, 06/15/2031 (p) | 2,000 | 2,102 | ||||||
Series WW, Rev., 5.00%, 06/15/2034 (p) | 1,500 | 1,530 | ||||||
Series WW, Rev., 5.25%, 06/15/2030 (p) | 1,000 | 1,024 | ||||||
New Jersey Economic Development Authority, Higher Education Capital Improvement Fund, Series A, Rev., 5.00%, 09/01/2025 | 245 | 247 | ||||||
New Jersey Economic Development Authority, New Jersey American Water Company, Inc., | ||||||||
Rev., AMT, 1.10%, 11/01/2029 (z) | 2,610 | 2,153 | ||||||
Series E, Rev., AMT, 0.85%, 12/01/2025 | 1,940 | 1,730 | ||||||
New Jersey Economic Development Authority, Port Newark Container, Rev., AMT, 5.00%, 10/01/2037 | 1,000 | 997 | ||||||
New Jersey Economic Development Authority, Portal North Bridge NJ Transit, | ||||||||
Rev., 5.00%, 11/01/2038 | 5,345 | 5,522 | ||||||
Rev., 5.00%, 11/01/2052 | 6,190 | 6,192 | ||||||
Rev., 5.25%, 11/01/2041 | 6,000 | 6,296 | ||||||
New Jersey Economic Development Authority, School Facilities Construction, | ||||||||
Series EEE, Rev., 5.00%, 06/15/2032 | 1,500 | 1,556 | ||||||
Series GGG, Rev., 5.25%, 09/01/2026 (e) | 8,000 | 8,251 | ||||||
New Jersey Economic Development Authority, Self Designated Social Bonds, | ||||||||
Series QQQ, Rev., 5.00%, 06/15/2026 | 555 | 568 | ||||||
Series QQQ, Rev., 5.00%, 06/15/2027 | 410 | 424 | ||||||
Series QQQ, Rev., 5.00%, 06/15/2028 | 400 | 419 | ||||||
New Jersey Economic Development Authority, State House Project, | ||||||||
Series B, Rev., 5.00%, 06/15/2027 | 10,690 | 11,065 | ||||||
Series B, Rev., 5.00%, 06/15/2028 | 8,635 | 9,035 | ||||||
New Jersey Educational Facilities Authority, Higher Education Capital Improvement Fund Issue, | ||||||||
Rev., 5.00%, 09/01/2038 (w) | 1,000 | 1,042 | ||||||
Rev., 5.00%, 09/01/2040 (w) | 2,200 | 2,269 | ||||||
New Jersey Educational Facilities Authority, Montclair State University, Series D, Rev., 5.00%, 07/01/2028 | 2,000 | 2,027 | ||||||
New Jersey Educational Facilities Authority, Princeton University, | ||||||||
Series A, Rev., 4.00%, 07/01/2028 | 1,860 | 1,824 | ||||||
Series B, Rev., 5.00%, 07/01/2024 | 1,000 | 1,009 | ||||||
Series I, Rev., 5.00%, 07/01/2036 | 1,015 | 1,063 | ||||||
New Jersey Educational Facilities Authority, Ramapo College of New Jersey, Series A, Rev., AGM, 5.00%, 07/01/2035 | 200 | 214 | ||||||
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System Obligated, Rev., 5.00%, 07/01/2032 | 2,070 | 2,201 | ||||||
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System Obligation, Rev., 3.00%, 07/01/2051 | 1,715 | 1,070 | ||||||
New Jersey Higher Education Student Assistance Authority, | ||||||||
Series B, Rev., AMT, 5.00%, 12/01/2024 | 570 | 573 | ||||||
Series B, Rev., AMT, 5.00%, 12/01/2027 | 1,340 | 1,361 | ||||||
Series B, Rev., AMT, 5.00%, 12/01/2028 | 1,480 | 1,509 | ||||||
Series B, Rev., AMT, 5.00%, 12/01/2029 | 1,440 | 1,472 | ||||||
New Jersey Higher Education Student Assistance Authority, Senior, | ||||||||
Series A, Rev., AMT, 3.50%, 12/01/2039 | 105 | 97 | ||||||
Series B, Rev., AMT, 4.00%, 12/01/2041 | 250 | 236 | ||||||
Series B, Rev., AMT, 4.00%, 12/01/2044 | 2,200 | 1,983 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New Jersey continued | ||||||||
New Jersey Higher Education Student Assistance Authority, Senior Bonds, Series B, Rev., AMT, 5.00%, 12/01/2024 | 300 | 302 | ||||||
New Jersey Higher Education Student Assistance Authority, Senior Student Loan, Rev., AMT, 5.00%, 12/01/2023 | 215 | 215 | ||||||
New Jersey Higher Education Student Assistance Authority, Subordinated, Series C, Rev., AMT, 4.00%, 12/01/2048 | 1,195 | 986 | ||||||
New Jersey Housing & Mortgage Finance Agency, Series E, Rev., 3.50%, 04/01/2051 | 2,360 | 2,262 | ||||||
New Jersey Housing & Mortgage Finance Agency, Browns Woods Apartments Project, Rev., HUD, 1.25%, 12/01/2024 (z) | 850 | 846 | ||||||
New Jersey Housing & Mortgage Finance Agency, Social Bond, Rev., 5.00%, 10/01/2053 | 195 | 196 | ||||||
New Jersey Housing & Mortgage Finance Agency, Social Bonds, Series H, Rev., 3.00%, 10/01/2052 | 805 | 750 | ||||||
New Jersey Transportation Trust Fund Authority, | ||||||||
Series A, Rev., 5.00%, 06/15/2029 | 1,550 | 1,639 | ||||||
Series A, Rev., 5.00%, 06/15/2030 | 3,000 | 3,191 | ||||||
Series AA, Rev., 4.00%, 06/15/2040 | 3,750 | 3,439 | ||||||
Series AA, Rev., 5.00%, 06/15/2029 | 1,000 | 1,058 | ||||||
Series AA, Rev., 5.00%, 06/15/2035 | 3,000 | 3,183 | ||||||
Series AA, Rev., 5.00%, 06/15/2045 | 660 | 670 | ||||||
Series BB, Rev., 5.00%, 06/15/2032 | 2,000 | 2,074 | ||||||
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Series A, Rev., BAM, Zero Coupon, 12/15/2038 | 1,000 | 468 | ||||||
New Jersey Transportation Trust Fund Authority, Program B, | ||||||||
Rev., 5.00%, 06/15/2037 | 2,000 | 2,099 | ||||||
Rev., 5.25%, 06/15/2046 | 14,455 | 14,957 | ||||||
New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Rev., 5.00%, 06/15/2035 | 500 | 529 | ||||||
New Jersey Transportation Trust Fund Authority, Transportation System, Series A, Rev., 5.00%, 06/15/2038 | 500 | 523 | ||||||
New Jersey Transportation Trust Fund Authority, Transportation System Bond, | ||||||||
Rev., 4.00%, 12/15/2039 | 2,000 | 1,841 | ||||||
Rev., 5.00%, 12/15/2028 | 1,000 | 1,054 | ||||||
Rev., 5.00%, 12/15/2031 | 1,560 | 1,646 | ||||||
New Jersey Turnpike Authority, | ||||||||
Series A, Rev., 4.00%, 01/01/2042 | 1,000 | 939 | ||||||
Series B, Rev., 4.50%, 01/01/2048 | 1,750 | 1,683 | ||||||
Series D, Rev., 5.00%, 01/01/2028 | 2,400 | 2,468 | ||||||
Series E, Rev., 5.00%, 01/01/2027 | 1,000 | 1,042 | ||||||
Series E, Rev., 5.00%, 01/01/2032 | 7,000 | 7,077 | ||||||
Newark Board of Education, Sustainability Bonds, | ||||||||
GO, BAM, 4.00%, 07/15/2034 | 400 | 393 | ||||||
GO, BAM, 4.00%, 07/15/2035 | 410 | 399 | ||||||
GO, BAM, 4.00%, 07/15/2036 | 425 | 406 | ||||||
GO, BAM, 4.00%, 07/15/2037 | 430 | 405 | ||||||
North Hudson Sewerage Authority, Senior Lien Lease Certificates, | ||||||||
Rev., AGM, 5.00%, 06/01/2039 | 1,100 | 1,150 | ||||||
Rev., AGM, 5.00%, 06/01/2040 | 1,100 | 1,140 | ||||||
Rev., AGM, 5.00%, 06/01/2041 | 1,000 | 1,036 | ||||||
Rev., AGM, 5.00%, 06/01/2042 | 1,000 | 1,038 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New Jersey continued | ||||||||
South Jersey Port Corp., Marine Terminal, | ||||||||
Series B, Rev., AMT, 5.00%, 01/01/2025 | 500 | 501 | ||||||
Series B, Rev., AMT, 5.00%, 01/01/2026 | 1,015 | 1,024 | ||||||
South Jersey Port Corp., Marine Terminal, Subordinated, Series B, Rev., AMT, 5.00%, 01/01/2037 | 1,000 | 1,011 | ||||||
South Jersey Port Corp., Subordinate Marine Term, Series B, Rev., AMT, 5.00%, 01/01/2032 | 1,290 | 1,318 | ||||||
South Jersey Transportation Authority, | ||||||||
Series A, Rev., AGM, 5.00%, 11/01/2030 | 500 | 527 | ||||||
Series A, Rev., AGM, 5.00%, 11/01/2033 | 1,215 | 1,281 | ||||||
Series A, Rev., BAM, 5.00%, 11/01/2041 | 2,925 | 3,000 | ||||||
South Jersey Transportation Authority, Transportation System, Rev., BAM, 5.25%, 11/01/2052 | 3,100 | 3,195 | ||||||
State of New Jersey, Covid-19 Emergency Bonds, General Obligations, | ||||||||
Series A, GO, 4.00%, 06/01/2030 | 2,000 | 2,037 | ||||||
Series A, GO, 5.00%, 06/01/2028 | 4,245 | 4,490 | ||||||
|
|
|||||||
180,732 | ||||||||
|
|
|||||||
New Mexico 0.4% | ||||||||
Albuquerque Municipal School District No. 12, Series A, GO, 5.00%, 08/01/2024 | 250 | 252 | ||||||
City of Farmington, Four Corners Project, Rev., 1.80%, 04/01/2029 | 3,000 | 2,466 | ||||||
City of Farmington, Pollution Control Revenue, Public Service Company, New Mexico Sanitary, Series E, Rev., 1.15%, 06/01/2040 (z) | 1,000 | 973 | ||||||
City of Farmington, Public Service Company, San Juan, Rev., 3.90%, 06/01/2040 (z) | 1,000 | 970 | ||||||
City of Farmington, San Juan And Four Corners, | ||||||||
Rev., 2.15%, 04/01/2033 | 4,890 | 3,606 | ||||||
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 2.05%, 09/01/2051 | 580 | 481 | ||||||
New Mexico Finance Authority, Senior Lien Public Project, Series C, Rev., 4.00%, 06/01/2028 | 1,070 | 1,075 | ||||||
New Mexico Finance Authority, Subordinated Lien, Public Project Revolving Fund, Rev., 5.00%, 06/15/2024 | 1,000 | 1,008 | ||||||
New Mexico Hospital Equipment Loan Council, | ||||||||
Rev., 5.00%, 06/01/2030 | 1,050 | 1,080 | ||||||
Rev., 5.00%, 06/01/2032 | 1,000 | 1,017 | ||||||
New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare, Rev., 4.00%, 08/01/2037 | 500 | 460 | ||||||
New Mexico Mortgage Finance Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052 | 1,190 | 1,119 | ||||||
New Mexico Mortgage Finance Authority, Single Family Mortgage Program, | ||||||||
Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052 | 2,095 | 1,966 | ||||||
Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 03/01/2054 | 615 | 643 | ||||||
Series C, Rev., GNMA/FNMA/FHLMC, 4.00%, 01/01/2049 | 170 | 167 | ||||||
New Mexico Municipal Energy Acquisition Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 11/01/2039 (z) | 3,500 | 3,502 | ||||||
Santa Fe Public School District, GO, 5.00%, 08/01/2029 | 1,375 | 1,444 | ||||||
Winrock Town Center Tax Increment Development District No. 1, Senior Lien, Tax Allocation, 4.25%, 05/01/2040 (e) | 1,750 | 1,391 | ||||||
|
|
|||||||
23,620 | ||||||||
|
|
|||||||
New York 11.2% | ||||||||
Albany County, Airport Authority, Series B, Rev., AMT, 5.00%, 12/15/2023 | 1,225 | 1,226 | ||||||
Battery Park City Authority, Series B, Rev., 5.00%, 11/01/2036 | 2,000 | 2,196 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
Broome County, Local Development Corp., United Health Services Hospital, | ||||||||
Rev., AGM, 4.00%, 04/01/2039 | 2,750 | 2,446 | ||||||
Rev., AGM, 5.00%, 04/01/2026 | 500 | 509 | ||||||
Build C Resource Corp., Family Life Academy Charter Project, Rev., 7.25%, 06/01/2055 (e) | 250 | 238 | ||||||
Build NYC Resource Corp., Rev., 5.00%, 07/01/2026 | 325 | 328 | ||||||
Build NYC Resource Corp., Academic Leadership Charter School, Rev., 4.00%, 06/15/2024 | 70 | 69 | ||||||
Build NYC Resource Corp., Family Life Academy Charter, Series A1, Rev., 5.25%, 06/01/2040 (e) | 1,220 | 985 | ||||||
Build NYC Resource Corp., Friends of Hellenic Classical, Series A, Rev., 4.00%, 12/01/2031 (e) | 700 | 624 | ||||||
Build NYC Resource Corp., Grand Concourse Academy Charter School, | ||||||||
Rev., 5.00%, 07/01/2042 | 555 | 524 | ||||||
Rev., 5.00%, 07/01/2052 | 700 | 631 | ||||||
City of Long Beach, | ||||||||
Series A, GO, 5.00%, 09/01/2025 | 1,990 | 2,007 | ||||||
Series A, GO, 5.00%, 09/01/2027 | 1,500 | 1,524 | ||||||
City of New York, | ||||||||
Series 1I, GO, 5.00%, 03/01/2026 | 360 | 361 | ||||||
Series A1, GO, 4.00%, 08/01/2034 | 3,000 | 2,997 | ||||||
Series A1, GO, 4.00%, 08/01/2036 | 1,000 | 968 | ||||||
Series A1, GO, 5.00%, 08/01/2029 | 2,900 | 3,105 | ||||||
Series A1, GO, 5.00%, 09/01/2034 | 2,000 | 2,172 | ||||||
Series A1, GO, 5.00%, 08/01/2041 | 3,000 | 3,071 | ||||||
Series A1, GO, 5.25%, 09/01/2042 | 8,715 | 9,162 | ||||||
Series B1, GO, 5.00%, 08/01/2031 | 1,000 | 1,079 | ||||||
Series B1, GO, 5.00%, 10/01/2031 | 500 | 540 | ||||||
Series B1, GO, 5.00%, 08/01/2035 | 90 | 97 | ||||||
Series B1, GO, 5.00%, 12/01/2037 | 1,760 | 1,780 | ||||||
Series C1, GO, 5.00%, 08/01/2031 | 500 | 536 | ||||||
Series C, GO, 5.00%, 08/01/2027 | 2,000 | 2,098 | ||||||
Series D1, GO, 5.00%, 12/01/2024 | 150 | 152 | ||||||
Series D1, GO, 5.00%, 12/01/2031 | 1,380 | 1,452 | ||||||
Series D1, GO, 5.00%, 12/01/2036 | 11,955 | 12,376 | ||||||
Series D1, GO, 5.00%, 12/01/2044 | 2,560 | 2,618 | ||||||
Series E, GO, 5.00%, 08/01/2028 | 1,625 | 1,728 | ||||||
Series E, GO, 5.00%, 08/01/2033 | 2,000 | 2,114 | ||||||
Series F1, GO, 5.00%, 03/01/2043 | 1,000 | 1,023 | ||||||
City of New York, Fiscal 2001, | ||||||||
Series 2, GO, VRDO, 4.17%, 10/06/2023 (z) | 120 | 120 | ||||||
Series 3, GO, VRDO, 4.17%, 10/06/2023 (z) | 1,590 | 1,590 | ||||||
City of New York, Fiscal 2015, Series F4, GO, 5.00%, 06/01/2044 (z) | 125 | 127 | ||||||
City of New York, Fiscal 2020, Series B1, GO, 5.00%, 10/01/2038 | 5,000 | 5,172 | ||||||
City of New York, Fiscal 2021, | ||||||||
Series C, GO, 4.00%, 08/01/2037 | 450 | 431 | ||||||
Series C, GO, 5.00%, 08/01/2033 | 2,000 | 2,140 | ||||||
Series C, GO, 5.00%, 08/01/2035 | 4,740 | 5,031 | ||||||
City of New York, Fiscal 2022, | ||||||||
GO, 5.25%, 05/01/2039 | 200 | 213 | ||||||
GO, 5.25%, 05/01/2041 | 2,000 | 2,108 | ||||||
GO, 5.50%, 05/01/2044 | 1,000 | 1,066 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
City of New York, Fiscal 2022 Subordinated, Series D3, GO, VRDO, 4.45%, 10/02/2023 (z) | 10,000 | 10,000 | ||||||
City of New York, Fiscal 2024, Series A, GO, 5.00%, 08/01/2028 | 360 | 383 | ||||||
City of New York, Subordinate, | ||||||||
Series E1, GO, 4.00%, 04/01/2050 | 8,500 | 7,356 | ||||||
Series F1, GO, 5.00%, 08/01/2025 | 390 | 399 | ||||||
Series F1, GO, 5.00%, 08/01/2027 | 1,750 | 1,835 | ||||||
Series F1, GO, 5.00%, 08/01/2028 | 350 | 372 | ||||||
City of Yonkers, | ||||||||
Series F, GO, BAM, 5.00%, 11/15/2038 | 500 | 529 | ||||||
Series F, GO, BAM, 5.00%, 11/15/2039 | 1,000 | 1,052 | ||||||
County of Nassau, | ||||||||
Series A, GO, AGM, 4.00%, 04/01/2046 | 1,300 | 1,167 | ||||||
Series B, GO, BAM, 5.00%, 10/01/2027 | 1,450 | 1,500 | ||||||
Dutchess County, Local Development Corp., Health Quest System, Inc. Project, Series B, Rev., 5.00%, 07/01/2046 | 1,250 | 1,121 | ||||||
Genesee County Funding Corp. (The), Rochester Regional Health Obligation, Rev., 5.25%, 12/01/2052 | 2,000 | 1,926 | ||||||
Hempstead Town Local Development Corp., Evergreen Charter School Project, Series A, Rev., 5.25%, 06/15/2042 | 4,000 | 3,794 | ||||||
Hudson Yards Infrastructure Corp., | ||||||||
Series A, Rev., AGM, 4.00%, 02/15/2047 | 9,335 | 8,378 | ||||||
Series A, Rev., 5.00%, 02/15/2045 | 2,210 | 2,249 | ||||||
Long Island Power Authority, | ||||||||
Rev., 5.00%, 09/01/2042 | 2,070 | 2,111 | ||||||
Series A, Rev., 5.00%, 09/01/2037 | 1,250 | 1,320 | ||||||
Series B, Rev., 1.50%, 09/01/2051 (z) | 5,700 | 5,190 | ||||||
Long Island Power Authority, Green Bond, Series E, Rev., 5.00%, 09/01/2048 | 2,440 | 2,505 | ||||||
Long Island Power Authority, Notes, Rev., 1.00%, 09/01/2025 | 2,680 | 2,481 | ||||||
Metropolitan Transportation Authority, | ||||||||
Rev., AGM, (United States SOFR * 0.67 + 0.55%), 4.11%, 11/01/2032 (aa) | 1,770 | 1,769 | ||||||
Rev., AGM, (United States SOFR * 0.67 + 0.80%), 4.36%, 11/01/2032 (aa) | 430 | 426 | ||||||
Series A, Rev., 5.25%, 11/15/2030 | 3,025 | 3,145 | ||||||
Series A, Rev., 5.25%, 11/15/2034 | 8,000 | 8,290 | ||||||
Series B4, Rev., 5.00%, 11/15/2023 | 2,000 | 2,003 | ||||||
Series B, Rev., 5.00%, 11/15/2024 | 340 | 343 | ||||||
Series B, Rev., 5.00%, 11/15/2025 | 540 | 549 | ||||||
Series C1, Rev., 5.00%, 11/15/2056 | 3,100 | 2,951 | ||||||
Series D, Rev., 5.00%, 11/15/2027 | 1,200 | 1,224 | ||||||
Series D, Rev., 5.00%, 11/15/2038 | 600 | 594 | ||||||
Metropolitan Transportation Authority, Build America Bonds, Rev., 6.67%, 11/15/2039 | 2,500 | 2,544 | ||||||
Metropolitan Transportation Authority, Green Bond, | ||||||||
Series A1, Rev., AGM, 4.00%, 11/15/2054 | 2,000 | 1,694 | ||||||
Series A2, Rev., 5.00%, 11/15/2027 | 1,085 | 1,107 | ||||||
Series C2, Rev., Zero Coupon, 11/15/2032 | 500 | 328 | ||||||
Series C, Rev., 5.00%, 11/15/2040 | 2,465 | 2,471 | ||||||
Series D, Rev., 5.00%, 11/15/2034 (z) | 5,000 | 5,037 | ||||||
Series E, Rev., 4.00%, 11/15/2045 | 60 | 51 | ||||||
Series E, Rev., 5.00%, 11/15/2029 | 250 | 259 | ||||||
Metropolitan Transportation Authority, Green Bonds, | ||||||||
Series A2, Rev., 5.00%, 11/15/2025 | 1,000 | 1,016 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
Series B1, Rev., 5.00%, 11/15/2046 | 2,000 | 2,011 | ||||||
Series D1, Rev., 5.00%, 11/15/2043 | 2,000 | 1,994 | ||||||
Series D3, Rev., 4.00%, 11/15/2049 | 1,000 | 825 | ||||||
Metropolitan Transportation Authority, Green Bonds, Subordinated, Series B1, Rev., 5.00%, 11/15/2036 | 10,000 | 10,216 | ||||||
Metropolitan Transportation Authority, Transportation, | ||||||||
Series A1, Rev., 5.00%, 11/15/2044 | 4,500 | 4,355 | ||||||
Series A1, Rev., 5.25%, 11/15/2039 | 1,000 | 999 | ||||||
Series B, Rev., 5.25%, 11/15/2037 | 4,795 | 4,795 | ||||||
Series C1, Rev., 5.00%, 11/15/2026 | 305 | 309 | ||||||
Metropolitan Transportation Authority, Transportation Green Bonds, Series B, Rev., 5.00%, 11/15/2026 | 1,720 | 1,760 | ||||||
Monroe County Industrial Development Corp., Rochester Regional Health Project, | ||||||||
Rev., 5.00%, 12/01/2027 | 1,000 | 1,011 | ||||||
Rev., 5.00%, 12/01/2028 | 1,700 | 1,727 | ||||||
Rev., 5.00%, 12/01/2029 | 1,900 | 1,925 | ||||||
MTA Hudson Rail Yards Trust Obligations, Series A, Rev., 5.00%, 11/15/2056 | 2,000 | 1,954 | ||||||
New York City Health and Hospitals Corp., | ||||||||
Series A, Rev., 5.00%, 02/15/2024 | 270 | 271 | ||||||
Series A, Rev., 5.00%, 02/15/2026 | 6,055 | 6,217 | ||||||
Series A, Rev., 5.00%, 02/15/2027 | 5,360 | 5,576 | ||||||
Series A, Rev., 5.00%, 02/15/2029 | 2,485 | 2,647 | ||||||
New York City Housing Development Corp., Sustainability Bonds, | ||||||||
Rev., 0.70%, 11/01/2060 (z) | 2,500 | 2,323 | ||||||
Series C2, Rev., 0.70%, 11/01/2060 (z) | 1,790 | 1,665 | ||||||
New York City Housing Development Corp., Sustainable Development Bonds, Series D2, Rev., FHA, 0.70%, 05/01/2060 (z) | 1,000 | 952 | ||||||
New York City Industrial Development Agency, Queens Baseball Stadium Project, | ||||||||
Rev., AGM, 3.00%, 01/01/2040 | 250 | 191 | ||||||
Series A, Rev., AGM, 4.00%, 01/01/2032 | 1,000 | 990 | ||||||
Series A, Rev., AGM, 5.00%, 01/01/2025 | 250 | 253 | ||||||
Series A, Rev., AGM, 5.00%, 01/01/2027 | 625 | 643 | ||||||
Series A, Rev., AGM, 5.00%, 01/01/2029 | 1,000 | 1,049 | ||||||
Series A, Rev., AGM, 5.00%, 01/01/2030 | 1,500 | 1,586 | ||||||
New York City Industrial Development Agency, Yankee Stadium Project Pilot, | ||||||||
Rev., AGM, 4.00%, 03/01/2045 | 8,825 | 7,745 | ||||||
Rev., AGM, 5.00%, 03/01/2028 | 1,250 | 1,304 | ||||||
Rev., AGM, 5.00%, 03/01/2029 | 1,500 | 1,577 | ||||||
Rev., AGM, 5.00%, 03/01/2030 | 3,900 | 4,128 | ||||||
New York City Municipal Water Finance Authority, | ||||||||
Series CC1, Rev., 4.00%, 06/15/2052 | 5,000 | 4,322 | ||||||
Series DD, Rev., 5.00%, 06/15/2034 | 1,920 | 2,132 | ||||||
New York City Municipal Water Finance Authority, Second General Resolution, | ||||||||
Rev., VRDO, 4.40%, 10/02/2023 (z) | 8,000 | 8,000 | ||||||
Series CC1, Rev., 5.00%, 06/15/2049 | 5,000 | 5,077 | ||||||
Series DD, Rev., 5.00%, 06/15/2036 | 665 | 667 | ||||||
New York City Transitional Finance Authority Building Aid Revenue, Fiscal 2015, Subordinate, Series S, Rev., 5.00%, 07/15/2040 | 17,800 | 17,932 | ||||||
New York City Transitional Finance Authority Building Aid Revenue, Fiscal Year 2015, Series S1, Rev., 5.00%, 07/15/2035 | 585 | 591 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
New York City Transitional Finance Authority Building Aid Revenue, Subordinate, | ||||||||
Series S1, Rev., 4.00%, 07/15/2034 | 1,000 | 1,004 | ||||||
Series S1, Rev., 5.00%, 07/15/2031 | 1,590 | 1,742 | ||||||
Series S1, Rev., 5.00%, 07/15/2043 | 1,505 | 1,519 | ||||||
New York City Transitional Finance Authority Future Tax Secured, Rev., 5.00%, 08/01/2029 | 1,000 | 1,072 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, | ||||||||
Rev., 5.00%, 11/01/2028 | 600 | 639 | ||||||
Series A1, Rev., 5.00%, 11/01/2031 | 1,725 | 1,878 | ||||||
Series E1, Rev., 3.00%, 02/01/2028 | 730 | 700 | ||||||
Series F1, Rev., 5.00%, 02/01/2039 | 3,000 | 3,126 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured, Rev., 4.00%, 11/01/2035 | 7,000 | 6,913 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured Subordinate, Series B1, Rev., 5.00%, 08/01/2038 | 1,000 | 1,012 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Subordinated, Series A3, Rev., 4.00%, 08/01/2042 | 2,500 | 2,276 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate, | ||||||||
Rev., 4.00%, 05/01/2038 | 2,000 | 1,893 | ||||||
Rev., 5.00%, 11/01/2025 | 255 | 261 | ||||||
Series DS, Rev., 4.00%, 11/01/2038 | 4,000 | 3,784 | ||||||
Series E1, Rev., 4.00%, 02/01/2046 | 2,000 | 1,780 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate Multi Modal, Series A, Rev., 5.00%, 05/01/2040 | 1,000 | 1,041 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate, Future Tax Secured, Rev., 3.75%, 11/01/2025 | 8,000 | 7,728 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinated, | ||||||||
Rev., 5.00%, 11/01/2026 | 1,000 | 1,039 | ||||||
Rev., 5.00%, 05/01/2031 | 1,000 | 1,077 | ||||||
Rev., 5.25%, 08/01/2042 | 3,000 | 3,157 | ||||||
Series A3, Rev., 4.00%, 05/01/2042 | 2,000 | 1,822 | ||||||
Series A3, Rev., 5.00%, 08/01/2040 | 1,720 | 1,742 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Taxable Subordinate, Series F2, Rev., 2.85%, 05/01/2025 | 6,600 | 6,331 | ||||||
New York City Transitional Finance Authority, Multi Modal Bonds Subordinate, Rev., 5.00%, 05/01/2039 | 1,500 | 1,574 | ||||||
New York City Trust for Cultural Resources, Refunding Lincoln Center, Series A, Rev., 5.00%, 12/01/2032 | 500 | 539 | ||||||
New York City Water & Sewer System, | ||||||||
Series AA2, Rev., 5.00%, 06/15/2029 | 1,350 | 1,457 | ||||||
Series BB1, Rev., 5.00%, 06/15/2049 | 500 | 508 | ||||||
Series FF, Rev., 5.00%, 06/15/2041 | 2,000 | 2,074 | ||||||
Series GG1, Rev., 5.00%, 06/15/2030 | 1,000 | 1,088 | ||||||
Series GG, Rev., 5.00%, 06/15/2039 | 2,660 | 2,679 | ||||||
New York City Water & Sewer System, Second General Resolution, | ||||||||
Rev., 5.00%, 06/15/2026 | 1,005 | 1,042 | ||||||
Rev., 5.00%, 06/15/2029 | 535 | 576 | ||||||
Series CC1, Rev., 5.00%, 06/15/2048 | 2,730 | 2,760 | ||||||
Series CC1, Rev., 5.25%, 06/15/2037 | 2,345 | 2,425 | ||||||
Series DD1, Rev., 5.00%, 06/15/2048 | 3,115 | 3,157 | ||||||
Series DD2, Rev., 5.00%, 06/15/2040 | 2,000 | 2,048 | ||||||
Series DD, Rev., 5.00%, 06/15/2047 | 6,680 | 6,747 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
New York City Water & Sewer System, Various Second General Resolution, Series BB4, Rev., VRDO, 4.80%, 10/02/2023 (z) | 2,000 | 2,000 | ||||||
New York City Water & Sewer System, Water And Sewer System Revenue Second General Resolution, Series BB2, Rev., 4.00%, 06/15/2042 | 1,180 | 1,079 | ||||||
New York Liberty Development Corp., | ||||||||
Series 1WTC, Rev., 3.00%, 02/15/2042 | 1,755 | 1,252 | ||||||
Series 1WTC, Rev., 4.00%, 02/15/2043 | 1,000 | 908 | ||||||
New York Liberty Development Corp., 3 World Trade Center, Rev., 5.38%, 11/15/2040 (e) | 500 | 481 | ||||||
New York Liberty Development Corp., 7 World Trade Center Project, Rev., 3.13%, 09/15/2050 | 3,000 | 2,052 | ||||||
New York Liberty Development Corp., World Trade Center Project, Series 1, Rev., 5.00%, 11/15/2044 (e) | 10,900 | 10,070 | ||||||
New York Power Authority, Green Transmission Project, | ||||||||
Rev., AGM, 4.00%, 11/15/2036 | 145 | 140 | ||||||
Rev., AGM, 5.00%, 11/15/2028 | 1,000 | 1,080 | ||||||
Rev., AGM, 5.00%, 11/15/2034 | 635 | 708 | ||||||
Rev., AGM, 5.00%, 11/15/2035 | 1,250 | 1,384 | ||||||
New York State Dormitory Authority, | ||||||||
Series 2015-B, Rev., 5.00%, 03/15/2027 (p) | 1,000 | 1,026 | ||||||
Series A1, Rev., 5.00%, 03/15/2036 | 2,500 | 2,700 | ||||||
Series A, Rev., 4.00%, 03/15/2039 | 1,000 | 937 | ||||||
Series A, Rev., 5.00%, 03/15/2024 (p) | 100 | 101 | ||||||
Series A, Rev., 5.00%, 03/15/2029 | 3,000 | 3,200 | ||||||
Series A, Rev., 5.00%, 03/15/2034 | 2,000 | 2,047 | ||||||
Series A, Rev., 5.00%, 03/15/2040 | 1,000 | 1,023 | ||||||
New York State Dormitory Authority, Bidding Group 1, Series E, Rev., 5.00%, 03/15/2029 | 3,000 | 3,200 | ||||||
New York State Dormitory Authority, Cornell University, Series A, Rev., 5.00%, 07/01/2031 | 1,000 | 1,112 | ||||||
New York State Dormitory Authority, Exchange Bonds, Series C, Rev., 5.00%, 07/01/2031 | 1,227 | 1,334 | ||||||
New York State Dormitory Authority, General Purpose, Series D, Rev., 5.00%, 02/15/2026 | 100 | 103 | ||||||
New York State Dormitory Authority, Green Bond, Cornell University, Rev., 5.00%, 07/01/2034 | 1,100 | 1,255 | ||||||
New York State Dormitory Authority, Group 1, Series A, Rev., 5.00%, 03/15/2024 (p) | 2,000 | 2,010 | ||||||
New York State Dormitory Authority, Group 2, | ||||||||
Series A, Rev., 5.00%, 03/15/2033 | 2,000 | 2,166 | ||||||
Series A, Rev., 5.00%, 03/15/2036 | 2,015 | 2,099 | ||||||
New York State Dormitory Authority, Group 3, Series A, Rev., 5.00%, 03/15/2037 | 5,000 | 5,175 | ||||||
New York State Dormitory Authority, Montefiore Obligated Group, | ||||||||
Series A, Rev., 5.00%, 08/01/2025 | 1,000 | 989 | ||||||
Series A, Rev., 5.00%, 08/01/2026 | 900 | 898 | ||||||
Series A, Rev., 5.00%, 08/01/2031 | 1,010 | 1,012 | ||||||
New York State Dormitory Authority, Northwell Health Obligated Group, | ||||||||
Rev., 4.00%, 05/01/2045 | 6,500 | 5,515 | ||||||
Rev., 4.25%, 05/01/2052 | 4,930 | 4,249 | ||||||
Rev., 5.00%, 05/01/2052 | 3,000 | 2,990 | ||||||
New York State Dormitory Authority, Refunded General Purpose, Series B, Rev., 5.00%, 02/15/2026 (p) | 2,835 | 2,917 | ||||||
New York State Dormitory Authority, Second Bond Financing Program, | ||||||||
Rev., AGM, 5.00%, 10/01/2029 | 3,000 | 3,206 | ||||||
Rev., AGM, 5.00%, 10/01/2030 | 4,000 | 4,303 | ||||||
Rev., AGM, 5.00%, 10/01/2036 | 260 | 276 | ||||||
New York State Dormitory Authority, St. Johns University, Series A, Rev., 4.00%, 07/01/2048 | 1,000 | 825 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
New York State Dormitory Authority, Unrefunded, Series D, Rev., 5.00%, 02/15/2027 | 35 | 37 | ||||||
New York State Dormitory Authority, Unrefunded Group 2, Series E, Rev., 5.00%, 03/15/2028 | 1,000 | 1,058 | ||||||
New York State Dormitory Authority, Yeshiva University, Series A, Rev., 5.00%, 07/15/2037 | 2,500 | 2,456 | ||||||
New York State Environmental Facilities Corp., Green Bond 2010 Master Financing Project, |
||||||||
Rev., 5.00%, 09/15/2028 | 575 | 619 | ||||||
Rev., 5.00%, 09/15/2031 | 250 | 280 | ||||||
New York State Environmental Facilities Corp., Municipal Water, Subordinated, Rev., 5.00%, 06/15/2042 | 2,655 | 2,711 | ||||||
New York State Environmental Facilities Corp., Solid Waste Disposal Revenue, Casella Waste System, Inc. Project, Rev., AMT, 2.75%, 09/01/2050 (e) (z) | 250 | 239 | ||||||
New York State Environmental Facilities Corp., State Clean Water & Drinking Water Revenue Revolving, Rev., 5.00%, 06/15/2026 | 1,000 | 1,038 | ||||||
New York State Housing Finance Agency, Sustainability Bonds, |
||||||||
Series B, Rev., HUD, SONYMA, 3.60%, 11/01/2062 (z) | 1,705 | 1,653 | ||||||
Series I, Rev., SONYMA, 0.70%, 11/01/2056 (z) | 2,375 | 2,181 | ||||||
Series J, Rev., HUD, SONYMA, 1.10%, 11/01/2061 (z) | 4,170 | 3,627 | ||||||
Series K2, Rev., HUD, SONYMA, 1.00%, 11/01/2061 (z) | 2,320 | 2,077 | ||||||
Series K, Rev., SONYMA, 0.70%, 11/01/2024 | 1,085 | 1,042 | ||||||
Series P, Rev., 1.55%, 11/01/2023 | 160 | 159 | ||||||
New York State Thruway Authority, |
||||||||
Series A1, Rev., 4.00%, 03/15/2041 | 500 | 460 | ||||||
Series A1, Rev., 5.00%, 03/15/2033 | 1,000 | 1,074 | ||||||
Series A, Rev., 5.00%, 03/15/2027 | 1,000 | 1,048 | ||||||
Series L, Rev., 5.00%, 01/01/2024 | 75 | 75 | ||||||
New York State Thruway Authority, Group 2, Series N, Rev., 4.00%, 01/01/2041 | 3,120 | 2,855 | ||||||
New York State Urban Development Corp., Series A, Rev., 4.00%, 03/15/2042 | 2,000 | 1,830 | ||||||
New York State Urban Development Corp., Bidding Group 1, |
||||||||
Series A, Rev., 5.00%, 03/15/2027 | 4,000 | 4,171 | ||||||
Series A, Rev., 5.00%, 03/15/2034 | 1,690 | 1,854 | ||||||
New York State Urban Development Corp., Bidding Group 4, Series A, Rev., 3.00%, 03/15/2050 | 4,000 | 2,748 | ||||||
New York State Urban Development Corp., Personal Income Tax, |
||||||||
Rev., 4.00%, 03/15/2037 | 2,000 | 1,914 | ||||||
Rev., 4.00%, 03/15/2041 | 5,000 | 4,578 | ||||||
Rev., 5.00%, 03/15/2030 | 500 | 538 | ||||||
Series C3, Rev., 5.00%, 03/15/2038 | 1,860 | 1,912 | ||||||
New York State Urban Development Corp., State Personal Income Tax, |
||||||||
Rev., 4.00%, 03/15/2042 | 2,000 | 1,811 | ||||||
Rev., 5.00%, 03/15/2028 | 1,250 | 1,319 | ||||||
Rev., 5.00%, 03/15/2034 | 3,000 | 3,011 | ||||||
Series A, Rev., 5.00%, 03/15/2024 | 1,000 | 1,005 | ||||||
New York State Urban Development Corp., State Personal Income Tax, General Purpose, |
||||||||
Series A, Rev., 5.00%, 03/15/2042 | 5,000 | 5,076 | ||||||
Series B, Rev., 3.54%, 03/15/2028 | 7,000 | 6,540 | ||||||
New York Transportation Development Corp., American Airlines, Inc., |
||||||||
Rev., AMT, 2.25%, 08/01/2026 | 585 | 552 | ||||||
Rev., AMT, 5.00%, 08/01/2026 | 5,375 | 5,339 | ||||||
New York Transportation Development Corp., Delta Air Lines Inc., LaGuardia, |
||||||||
Rev., AMT, 5.00%, 01/01/2032 | 3,000 | 3,023 | ||||||
Rev., AMT, 4.38%, 10/01/2045 | 2,000 | 1,738 | ||||||
Rev., AMT, 5.00%, 10/01/2035 | 11,000 | 11,038 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
New York Transportation Development Corp., LaGuardia Airport Terminal B, |
||||||||
Rev., AMT, 5.00%, 07/01/2046 | 15,180 | 14,429 | ||||||
Rev., AMT, 5.25%, 01/01/2050 | 8,425 | 8,258 | ||||||
New York Transportation Development Corp., LaGuardia Airport Terminal B Redevelopment, |
||||||||
Rev., AMT, 4.00%, 07/01/2031 | 4,500 | 4,231 | ||||||
Rev., AGM, AMT, 4.00%, 07/01/2035 | 5,080 | 4,785 | ||||||
Rev., AMT, 5.00%, 07/01/2041 | 1,000 | 973 | ||||||
New York Transportation Development Corp., New York State Thruway, Rev., AMT, 4.00%, 10/31/2034 | 600 | 565 | ||||||
New York Transportation Development Corp., Terminal 4 JFK International, |
||||||||
Rev., AMT, 5.00%, 12/01/2030 | 1,710 | 1,756 | ||||||
Rev., AMT, 5.00%, 12/01/2032 | 2,005 | 2,070 | ||||||
Rev., AMT, 5.00%, 12/01/2033 | 1,000 | 1,026 | ||||||
Rev., AMT, 5.00%, 12/01/2037 | 3,500 | 3,505 | ||||||
Rev., AMT, 5.00%, 12/01/2038 | 1,000 | 997 | ||||||
New York Transportation Development Corp., Terminal 4 John F Kennedy International, |
||||||||
Rev., AMT, 4.00%, 12/01/2038 | 300 | 268 | ||||||
Rev., AMT, 4.00%, 12/01/2039 | 300 | 266 | ||||||
Rev., AMT, 4.00%, 12/01/2040 | 1,475 | 1,290 | ||||||
Rev., AMT, 4.00%, 12/01/2041 | 300 | 260 | ||||||
Rev., AMT, 4.00%, 12/01/2042 | 300 | 256 | ||||||
Rev., 5.00%, 12/01/2024 | 200 | 202 | ||||||
Rev., 5.00%, 12/01/2025 | 200 | 204 | ||||||
Rev., 5.00%, 12/01/2026 | 995 | 1,021 | ||||||
Rev., 5.00%, 12/01/2027 | 200 | 207 | ||||||
Rev., 5.00%, 12/01/2028 | 200 | 208 | ||||||
Rev., 5.00%, 12/01/2037 | 250 | 255 | ||||||
Rev., 5.00%, 12/01/2038 | 2,250 | 2,287 | ||||||
Port Authority of New York & New Jersey, |
||||||||
Series 207, Rev., AMT, 5.00%, 09/15/2028 | 1,080 | 1,109 | ||||||
Series 207, Rev., AMT, 5.00%, 09/15/2031 | 5,000 | 5,122 | ||||||
Series 226, Rev., AMT, 5.00%, 10/15/2031 | 4,500 | 4,715 | ||||||
Series 226, Rev., AMT, 5.00%, 10/15/2032 | 1,250 | 1,333 | ||||||
Series 226, Rev., AMT, 5.00%, 10/15/2036 | 2,040 | 2,129 | ||||||
Series 242, Rev., AMT, 5.00%, 12/01/2042 | 7,000 | 7,109 | ||||||
Port Authority of New York & New Jersey, Consolidated, |
||||||||
Series 197, Rev., AMT, 5.00%, 11/15/2032 | 3,000 | 3,050 | ||||||
Series 206, Rev., AMT, 5.00%, 11/15/2032 | 3,000 | 3,067 | ||||||
Series 221, Rev., AMT, 5.00%, 07/15/2031 | 1,620 | 1,715 | ||||||
Series 221, Rev., AMT, 5.00%, 07/15/2032 | 1,500 | 1,586 | ||||||
Port Authority of New York & New Jersey, Consolidated 211, Rev., 4.00%, 09/01/2043 | 5,000 | 4,557 | ||||||
Port Authority of New York & New Jersey, Consolidated Bond 233, Rev., 5.00%, 08/01/2038 | 670 | 702 | ||||||
Port Authority of New York & New Jersey, Consolidated Bond Two Hund, Rev., AMT, 5.00%, 01/15/2039 | 1,250 | 1,286 | ||||||
Port Authority of New York & New Jersey, Consolidated One Hundred Eighty, |
||||||||
Rev., AMT, 5.00%, 09/01/2026 | 3,000 | 3,010 | ||||||
Series 222, Rev., 4.00%, 07/15/2036 | 10,250 | 10,011 | ||||||
State of New York Mortgage Agency Homeowner Mortgage Revenue, Social Bonds, Series 253, Rev., SONYMA, AMT, 4.70%, 10/01/2038 | 2,090 | 1,920 | ||||||
State of New York Mortgage Agency, Social Bond, Series 239, Rev., SONYMA, 3.25%, 10/01/2051 | 280 | 263 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
New York continued | ||||||||
State of New York Mortgage Agency, Social Bonds, |
||||||||
Series 233, Rev., 3.00%, 10/01/2045 | 2,140 | 2,020 | ||||||
Series 235, Rev., AMT, 0.55%, 10/01/2023 | 190 | 190 | ||||||
State of New York Mortgage Agency, Social Bonds 242, Rev., SONYMA, 3.50%, 10/01/2052 | 105 | 100 | ||||||
Triborough Bridge & Tunnel Authority, |
||||||||
Series A2, Rev., 2.00%, 05/15/2045 (z) | 4,250 | 3,771 | ||||||
Series A, Rev., BAN, 5.00%, 08/15/2024 | 3,000 | 3,028 | ||||||
Series A, Rev., 5.00%, 11/15/2041 | 1,975 | 1,995 | ||||||
Series A, Rev., 5.00%, 11/15/2047 | 2,500 | 2,545 | ||||||
Series A, Rev., 5.00%, 11/15/2049 | 3,040 | 3,078 | ||||||
Triborough Bridge & Tunnel Authority, Green Bond, |
||||||||
Series E1, Rev., 5.00%, 11/15/2027 | 1,155 | 1,217 | ||||||
Series E-2B, Rev., 5.00%, 11/15/2032 | 575 | 626 | ||||||
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Rev., 5.00%, 05/15/2047 | 5,250 | 5,352 | ||||||
Triborough Bridge & Tunnel Authority, MTA Bridges And Tunnels, Rev., 5.00%, 11/15/2026 | 3,660 | 3,795 | ||||||
Triborough Bridge & Tunnel Authority, MTA Bridges And Tunnels, Green Bonds, Rev., 5.00%, 11/15/2029 | 1,615 | 1,742 | ||||||
Triborough Bridge & Tunnel Authority, Senior, Series C, Rev., 5.00%, 05/15/2040 | 5,000 | 5,190 | ||||||
Triborough Bridge & Tunnel Authority, Senior Lien, |
||||||||
Rev., 5.00%, 05/15/2050 (z) | 7,000 | 7,135 | ||||||
Series C, Rev., 5.25%, 05/15/2052 | 10,000 | 10,345 | ||||||
Series C1-A, Rev., 5.00%, 05/15/2038 | 2,000 | 2,090 | ||||||
Triborough Bridge & Tunnel Authority, Senior Lien MTA Bridges & Tunnels, |
||||||||
Rev., 5.00%, 05/15/2035 | 2,000 | 2,157 | ||||||
Rev., 5.00%, 05/15/2036 | 2,000 | 2,137 | ||||||
Rev., 5.00%, 05/15/2038 | 4,240 | 4,442 | ||||||
Troy Capital Resource Corp., Rensselaer Polytechnic Institute, Rev., 4.00%, 09/01/2036 | 750 | 687 | ||||||
TSASC, Inc., Series B, Rev., 5.00%, 06/01/2048 | 6,780 | 5,878 | ||||||
Utility Debt Securitization Authority, Restructuring, Rev., 5.00%, 12/15/2025 | 15 | 15 | ||||||
Utility Debt Securitization Authority, Restructuring Bonds, |
||||||||
Rev., 5.00%, 12/15/2033 | 1,500 | 1,526 | ||||||
Series TE, Rev., 5.00%, 12/15/2029 | 1,500 | 1,573 | ||||||
Series TE, Rev., 5.00%, 12/15/2032 | 800 | 880 | ||||||
Westchester County Local Development Corp., Purchase Senior Learning, Rev., 2.88%, 07/01/2026 (e) | 500 | 474 | ||||||
Western Regional Off-Track Betting Corp., Rev., 3.00%, 12/01/2026 (e) | 240 | 220 | ||||||
|
|
|||||||
704,851 | ||||||||
|
|
|||||||
North Carolina 0.8% |
||||||||
Charlotte-Mecklenburg Hospital Authority, Atrium Health, Series B, Rev., 1.95%, 01/15/2048 (z) | 2,285 | 1,954 | ||||||
City of Charlotte Airport Revenue, Rev., 5.00%, 07/01/2040 | 2,375 | 2,500 | ||||||
City of Charlotte Airport Special Facilities Revenue, Charlotte Douglas International, |
||||||||
Rev., 5.00%, 07/01/2049 | 5,000 | 5,080 | ||||||
Rev., AMT, 5.00%, 07/01/2049 | 5,000 | 4,951 | ||||||
City of Charlotte, 2003 Governmental Facilities Project, VRDO, COP, LIQ: Wells Fargo Bank NA, 3.85%, 10/06/2023 (z) | 2,300 | 2,300 | ||||||
City of Charlotte, Airport Special Facilities Revenue, Series B, Rev., AMT, 5.00%, 07/01/2027 | 1,315 | 1,349 | ||||||
County of Cumberland, Qualified School Construction Bonds, COP, 1.25%, 12/15/2025 | 4,000 | 3,666 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
North Carolina continued | ||||||||
Greater Asheville Regional Airport Authority, |
||||||||
Rev., AGM, AMT, 5.25%, 07/01/2040 | 500 | 516 | ||||||
Rev., AGM, AMT, 5.25%, 07/01/2041 | 415 | 427 | ||||||
Rev., AGM, AMT, 5.25%, 07/01/2048 | 1,750 | 1,768 | ||||||
North Carolina Department of Transportation, I-77 Hot Lanes Project, Rev., AMT, 5.00%, 06/30/2054 | 2,000 | 1,815 | ||||||
North Carolina Housing Finance Agency, |
||||||||
Series 37A, Rev., AMT, 3.50%, 07/01/2039 | 45 | 44 | ||||||
Series 44, Rev., 4.00%, 07/01/2050 | 310 | 302 | ||||||
Series 45, Rev., GNMA/FNMA/FHLMC, 1.90%, 01/01/2032 | 1,525 | 1,192 | ||||||
North Carolina Housing Finance Agency, Home Ownership, Series 47, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2051 | 910 | 856 | ||||||
North Carolina Medical Care Commission, CaroMont Health, Series A, Rev., 4.00%, 02/01/2036 | 500 | 477 | ||||||
North Carolina Medical Care Commission, Lutheran Services for the Aging, Rev., 4.00%, 03/01/2041 | 1,050 | 776 | ||||||
North Carolina Medical Care Commission, Presbyterian Homes Obligations, |
||||||||
Series A, Rev., 4.00%, 10/01/2027 | 600 | 585 | ||||||
Series A, Rev., 4.00%, 10/01/2040 | 1,200 | 1,020 | ||||||
Series A, Rev., 4.00%, 10/01/2045 | 2,250 | 1,808 | ||||||
North Carolina Medical Care Commission, Rex Healthcare, Series A, Rev., 5.00%, 07/01/2031 | 1,760 | 1,842 | ||||||
North Carolina Medical Care Commission, The Forest at Duke Project, Rev., 4.00%, 09/01/2041 | 830 | 666 | ||||||
North Carolina Turnpike Authority, Rev., BAN, 5.00%, 02/01/2024 (p) | 7,130 | 7,141 | ||||||
North Carolina Turnpike Authority, Senior Lien, Rev., AGM, 5.00%, 01/01/2038 | 2,375 | 2,421 | ||||||
North Carolina Turnpike Authority, Triangle Expressway System, Senior Lien, Rev., AGM, 5.00%, 01/01/2049 | 1,000 | 1,003 | ||||||
Raleigh Durham Airport Authority, Series A, Rev., AMT, 5.00%, 05/01/2032 | 505 | 514 | ||||||
State of North Carolina, Build Nc Programs, Series B, Rev., 5.00%, 05/01/2027 | 2,750 | 2,881 | ||||||
State of North Carolina, Grant Anticipation Revenue, Rev., 5.00%, 03/01/2029 | 1,000 | 1,067 | ||||||
Western Carolina University, Series B, Rev., 5.00%, 04/01/2031 | 2,120 | 2,245 | ||||||
|
|
|||||||
53,166 | ||||||||
|
|
|||||||
North Dakota 0.3% |
||||||||
Cass County Joint Water Resource District, Series A, GO, 0.48%, 05/01/2024 | 3,635 | 3,516 | ||||||
City of Grand Forks, Altru Health System, |
||||||||
Rev., 5.00%, 12/01/2031 | 1,500 | 1,486 | ||||||
Series A, Rev., AGM, 5.00%, 12/01/2041 | 1,000 | 995 | ||||||
County of Ward, Trinity Obligation Group, Series C, Rev., 5.00%, 06/01/2043 | 2,500 | 1,926 | ||||||
North Dakota Housing Finance Agency, |
||||||||
Series B, Rev., 3.00%, 07/01/2051 | 1,970 | 1,866 | ||||||
Series C, Rev., 4.00%, 01/01/2050 | 705 | 684 | ||||||
North Dakota Housing Finance Agency, Home Mortgage Financing Program, Series A, Rev., 3.00%, 01/01/2052 | 45 | 42 | ||||||
North Dakota Housing Finance Agency, Housing Finance Program, Home Mortgage Finance, Series D, Rev., 4.25%, 01/01/2049 | 2,335 | 2,301 | ||||||
North Dakota Housing Finance Agency, Social Bonds, Series B, Rev., 3.00%, 07/01/2052 | 1,025 | 956 | ||||||
North Dakota Housing Finance Agency, Social Bonds Home Mortgage Finance Program, Rev., 5.75%, 01/01/2054 | 500 | 520 | ||||||
North Dakota Housing Finance Agency, Social Bonds Home Mortgage Financing, Rev., 5.75%, 07/01/2053 | 1,315 | 1,361 | ||||||
University of North Dakota, Series A, COP, AGM, 4.00%, 06/01/2046 | 1,480 | 1,261 | ||||||
West Fargo Public School District No. 6, Series C, GO, 4.00%, 08/01/2026 | 300 | 302 | ||||||
|
|
|||||||
17,216 | ||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Ohio 2.0% |
||||||||
Akron Bath Copley Joint Township Hospital District, Rev., 5.25%, 11/15/2046 | 5,775 | 5,530 | ||||||
Akron Bath Copley Joint Township Hospital District, Childrens Hospital Medical, Rev., 4.00%, 11/15/2042 | 1,265 | 1,063 | ||||||
Akron Bath Copley Joint Township Hospital District, Summa Health Obligations, |
||||||||
Rev., 4.00%, 11/15/2034 | 500 | 458 | ||||||
Rev., 4.00%, 11/15/2035 | 1,000 | 898 | ||||||
Rev., 4.00%, 11/15/2038 | 750 | 631 | ||||||
American Municipal Power, Inc., Fremont Energy Center Project, |
||||||||
Rev., 4.00%, 02/15/2036 | 1,750 | 1,651 | ||||||
Rev., 5.00%, 02/15/2026 | 600 | 614 | ||||||
Buckeye Tobacco Settlement Financing Authority, Series B2, Rev., 5.00%, 06/01/2055 | 12,715 | 10,953 | ||||||
Buckeye Tobacco Settlement Financing Authority, Senior, Series A2, Rev., 4.00%, 06/01/2048 | 2,210 | 1,867 | ||||||
City of Cincinnati, Mercer Commons Phase 2 Project, Rev., 5.00%, 11/01/2035 | 1,085 | 1,101 | ||||||
Columbus-Franklin County Finance Authority, Bridge Park D Block Project, Series A, Rev., 5.00%, 12/01/2051 | 1,750 | 1,544 | ||||||
County of Allen, Hospital Facilities Revenue, Series A, Rev., 5.00%, 08/01/2027 | 50 | 52 | ||||||
County of Butler, UC Health, Rev., 5.00%, 11/15/2030 | 1,300 | 1,298 | ||||||
County of Franklin, Nationwide Childrens Hospital, |
||||||||
Rev., 4.00%, 11/01/2040 | 2,000 | 1,809 | ||||||
Rev., 5.00%, 11/01/2031 | 1,000 | 1,075 | ||||||
County of Franklin, Trinity Health Credit Group, Rev., 3.50%, 12/01/2046 (z) | 5,025 | 5,022 | ||||||
County of Hamilton, Trihealth, Inc. Obligated Group, Rev., 5.00%, 08/15/2040 | 1,510 | 1,510 | ||||||
County of Miami, Improvement, Kettering Health Network, Rev., 5.00%, 08/01/2049 | 2,000 | 1,945 | ||||||
County of Montgomery, Dayton Childrens Hospital, |
||||||||
Rev., 5.00%, 08/01/2027 | 725 | 750 | ||||||
Rev., 5.00%, 08/01/2029 | 145 | 153 | ||||||
Rev., 5.00%, 08/01/2033 | 230 | 244 | ||||||
County of Montgomery, Kettering Health Network Obligations, Rev., 4.00%, 08/01/2041 | 1,200 | 1,067 | ||||||
County of Van Wert, Van Wert Health Obligated, Rev., 6.13%, 12/01/2049 (p) | 2,000 | 2,208 | ||||||
Hamilton City School District, Various Purpose, GO, 5.00%, 12/01/2034 (p) | 1,500 | 1,519 | ||||||
Lancaster Port Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 08/01/2049 (z) | 5,000 | 5,016 | ||||||
Miami University, |
||||||||
Series A, Rev., 5.00%, 09/01/2028 | 515 | 547 | ||||||
Series A, Rev., 5.00%, 09/01/2030 | 1,005 | 1,088 | ||||||
Northeast Ohio Medical University, Rev., BAM, 5.00%, 12/01/2043 | 1,475 | 1,462 | ||||||
Ohio Air Quality Development Authority, American Electric Power Company, Series A, Rev., AMT, 2.10%, 01/01/2029 (z) | 1,250 | 1,207 | ||||||
Ohio Air Quality Development Authority, Dayton Power & Light, Rev., AMT, 4.25%, 11/01/2040 (z) | 7,000 | 6,801 | ||||||
Ohio Air Quality Development Authority, Duke Energy, Rev., AMT, 4.25%, 11/01/2039 (z) | 7,205 | 7,044 | ||||||
Ohio Air Quality Development Authority, Ohio Valley Electric Corp., Rev., AMT, 2.50%, 11/01/2042 (z) | 1,000 | 834 | ||||||
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project, |
||||||||
Rev., 1.38%, 02/01/2026 (z) | 1,875 | 1,784 | ||||||
Rev., 1.50%, 02/01/2026 (z) | 120 | 109 | ||||||
Ohio Higher Educational Facility Commission, Case Western Reserve, Rev., (SIFMA Municipal Swap Index + 0.23%), 4.21%, 12/01/2042 (aa) | 155 | 152 | ||||||
Ohio Higher Educational Facility Commission, Case Western Reserve University, Rev., 5.00%, 12/01/2040 | 1,065 | 1,074 | ||||||
Ohio Higher Educational Facility Commission, University of Dayton, Rev., 5.00%, 02/01/2034 | 1,125 | 1,188 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Ohio continued | ||||||||
Ohio Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC, 4.50%, 09/01/2048 | 905 | 895 | ||||||
Ohio Housing Finance Agency, Glen Meadows Apartments, Rev., HUD, 0.40%, 11/01/2024 (z) | 620 | 618 | ||||||
Ohio Housing Finance Agency, Marianna Terrace Apartments, Rev., HUD, 1.30%, 03/01/2025 (z) | 330 | 325 | ||||||
Ohio Housing Finance Agency, Post Oak Station, Rev., HUD, 3.35%, 07/01/2025 (z) | 295 | 290 | ||||||
Ohio Housing Finance Agency, Robert Cassidy Manor Apartments, Rev., FHA HUD, 5.00%, 04/01/2026 (z) | 3,060 | 3,075 | ||||||
Ohio Housing Finance Agency, Thornwood Commons, Rev., FHA HUD, 5.00%, 12/01/2026 (z) | 2,000 | 2,015 | ||||||
Ohio Turnpike & Infrastructure Commission, Infrastructure Projects, Series A, Rev., 4.00%, 02/15/2038 | 1,500 | 1,402 | ||||||
Ohio Turnpike & Infrastructure Commission, Junior Lien Infrastructure, |
||||||||
Rev., 5.00%, 02/15/2028 | 500 | 529 | ||||||
Rev., 5.00%, 02/15/2033 | 365 | 402 | ||||||
Ohio Water Development Authority, Series A, Rev., 5.00%, 06/01/2029 | 500 | 537 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund, Series A, Rev., 5.00%, 12/01/2030 | 4,500 | 4,928 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund, Loan Fund, Series A, Rev., 5.00%, 12/01/2031 | 1,000 | 1,045 | ||||||
Ohio Water Development Authority, Sustainability Bond, Series A, Rev., 5.00%, 06/01/2031 | 300 | 329 | ||||||
Ohio Water Development Authority, Water Pollution Control Loan Fund, Series A, Rev., VRDO, 4.10%, 10/06/2023 (z) | 3,500 | 3,500 | ||||||
State of Ohio, |
||||||||
Series A2, Rev., 4.00%, 04/01/2033 | 3,000 | 2,880 | ||||||
Series A, GO, 5.00%, 09/01/2024 | 130 | 131 | ||||||
Series A, GO, 5.00%, 03/01/2034 | 1,000 | 1,106 | ||||||
Series X, GO, 5.00%, 05/01/2035 | 300 | 328 | ||||||
State of Ohio, Cleveland Clinic Health System, |
||||||||
Rev., 5.00%, 01/01/2033 | 2,410 | 2,612 | ||||||
Rev., 5.00%, 01/01/2034 | 2,425 | 2,624 | ||||||
Rev., 5.00%, 01/01/2039 | 570 | 591 | ||||||
Series A, Rev., 5.00%, 01/01/2027 | 940 | 976 | ||||||
State of Ohio, Common Schools, Series C, GO, 5.00%, 03/15/2030 | 125 | 135 | ||||||
State of Ohio, Garvee, |
||||||||
Series 1A, Rev., 5.00%, 12/15/2025 | 800 | 821 | ||||||
Series 1A, Rev., 5.00%, 12/15/2028 | 1,000 | 1,072 | ||||||
Series 2022-1, Rev., 5.00%, 12/15/2028 | 1,000 | 1,072 | ||||||
Series 2022-1, Rev., 5.00%, 12/15/2031 | 1,000 | 1,084 | ||||||
State of Ohio, Higher Education, |
||||||||
Series A, GO, 5.00%, 05/01/2032 | 10,000 | 10,468 | ||||||
Series C, GO, 5.00%, 08/01/2028 (p) | 350 | 374 | ||||||
State of Ohio, Infrastructure Improvement, GO, 5.00%, 03/01/2034 | 1,000 | 1,096 | ||||||
State of Ohio, Premier Health Partners, |
||||||||
Rev., 4.00%, 11/15/2039 | 1,320 | 1,103 | ||||||
Rev., 4.00%, 11/15/2041 | 1,450 | 1,172 | ||||||
Rev., 5.00%, 11/15/2028 | 680 | 690 | ||||||
State of Ohio, University Hospital Health, Rev., VRDO, 4.40%, 10/02/2023 (z) | 1,500 | 1,500 | ||||||
State of Ohio, University Hospitals Health, Rev., 4.00%, 01/15/2037 | 1,000 | 937 | ||||||
State of Ohio, University Hospitals Health System, Series A, Rev., 5.00%, 01/15/2041 | 1,000 | 978 | ||||||
|
|
|||||||
126,908 | ||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Oklahoma 0.4% |
||||||||
Oklahoma City Economic Development Trust, Increment District #8 Project, |
||||||||
Rev., 4.00%, 03/01/2032 | 1,640 | 1,652 | ||||||
Rev., 4.00%, 03/01/2033 | 5,000 | 5,043 | ||||||
Rev., 4.00%, 03/01/2034 | 4,440 | 4,474 | ||||||
Oklahoma Development Finance Authority, Integris, Series A, Rev., 4.00%, 08/15/2038 | 2,000 | 1,749 | ||||||
Oklahoma Development Finance Authority, Integris Obligated Group, Rev., VRDO, 4.50%, 10/06/2023 (z) | 1,910 | 1,910 | ||||||
Oklahoma Development Finance Authority, OU Health Project, Series A, Rev., 5.50%, 08/15/2037 | 1,110 | 1,011 | ||||||
Oklahoma Development Finance Authority, OU Medicine Project, Series B, Rev., 5.50%, 08/15/2057 | 6,000 | 5,296 | ||||||
Oklahoma Water Resources Board, Series B, Rev., 5.00%, 10/01/2026 | 1,255 | 1,306 | ||||||
Oklahoma Water Resources Board, Drinking Water Program 2019 Master, Rev., 4.00%, 04/01/2048 | 3,000 | 2,757 | ||||||
Osage County Industrial Authority, Rev., 5.75%, 09/01/2053 | 1,000 | 921 | ||||||
Tulsa County Independent School District No. 1 Tulsa, Series B, GO, 2.00%, 09/01/2026 | 1,500 | 1,386 | ||||||
|
|
|||||||
27,505 | ||||||||
|
|
|||||||
Oregon 0.8% |
||||||||
City of Portland Sewer System Revenue, Second Lien, Series A, Rev., 5.00%, 12/01/2031 | 2,670 | 2,944 | ||||||
City of Portland Water System Revenue, Second Lien, |
||||||||
Series A, Rev., 4.00%, 05/01/2039 | 500 | 466 | ||||||
Series A, Rev., 5.00%, 05/01/2033 | 1,825 | 1,964 | ||||||
County of Gilliam, Waste Management, Rev., AMT, 3.95%, 07/01/2038 (z) | 1,000 | 996 | ||||||
Hospital Facilities Authority of Multnomah County Oregon, Green Bond Terwilliger, Rev., 0.95%, 06/01/2027 | 1,200 | 1,040 | ||||||
Jackson County School District No. 5 Ashland, GO, SCH BD GTY, 5.00%, 06/15/2030 | 1,000 | 1,069 | ||||||
Medford Hospital Facilities Authority, Asante Project, Series A, Rev., AGM, 4.00%, 08/15/2045 | 1,330 | 1,170 | ||||||
Multnomah County School District No. 1 Portland, GO, SCH BD GTY, 5.00%, 06/15/2028 | 1,850 | 1,974 | ||||||
Oregon Health & Science University, Series B1, Rev., 5.00%, 07/01/2046 (z) | 1,500 | 1,564 | ||||||
Oregon State Facilities Authority, Samaritan Health Services, Rev., 5.00%, 10/01/2040 | 1,750 | 1,722 | ||||||
Oregon State Facilities Authority, Samaritan Health Services Project, Rev., 5.00%, 10/01/2031 | 1,740 | 1,758 | ||||||
Port of Portland Airport Revenue, |
||||||||
Series 27A, Rev., AMT, 5.00%, 07/01/2028 | 1,595 | 1,649 | ||||||
Series 27A, Rev., AMT, 5.00%, 07/01/2036 | 1,000 | 1,030 | ||||||
Port of Portland Airport Revenue, Green Bonds, Rev., AMT, 5.00%, 07/01/2036 | 500 | 520 | ||||||
Port of Portland Airport Revenue, Portland International Air, Rev., AMT, 5.00%, 07/01/2035 | 1,270 | 1,299 | ||||||
Port of Portland Airport Revenue, Portland International Airport, Series 25B, Rev., AMT, 5.00%, 07/01/2039 | 1,020 | 1,021 | ||||||
Salem Hospital Facility Authority, Capital Manor Project, |
||||||||
Rev., 4.00%, 05/15/2032 | 185 | 169 | ||||||
Rev., 4.00%, 05/15/2040 | 750 | 595 | ||||||
Salem Hospital Facility Authority, Salem Health Projects, Series A, Rev., 5.00%, 05/15/2046 | 3,000 | 2,939 | ||||||
State of Oregon, Series N, GO, 5.00%, 12/01/2023 | 1,890 | 1,891 | ||||||
State of Oregon Department of Transportation, Subordinate, Series A, Rev., 5.00%, 11/15/2036 | 9,095 | 9,627 | ||||||
State of Oregon Housing & Community Services Department, Single Family Mortgage Program, Series A, Rev., 3.00%, 07/01/2052 | 615 | 579 | ||||||
State of Oregon Housing & Community Services Department, The Susan Emmons Apartment, Rev., HUD, 0.38%, 06/01/2024 (z) | 945 | 937 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Oregon continued | ||||||||
State of Oregon, Article XI Q, Series F, GO, 5.00%, 05/01/2030 | 100 | 103 | ||||||
State of Oregon, Article XI Q State Project, |
||||||||
GO, 5.00%, 05/01/2025 | 500 | 509 | ||||||
GO, 5.00%, 05/01/2030 | 405 | 440 | ||||||
State of Oregon, Article XI Q State Projects, GO, 5.00%, 05/01/2028 | 1,000 | 1,061 | ||||||
State of Oregon, Article Xi-M & Xi-N Seismic, GO, 5.00%, 06/01/2030 | 1,995 | 2,167 | ||||||
State of Oregon, Article XI-Q State Project, Series A, GO, 5.00%, 05/01/2027 | 1,220 | 1,278 | ||||||
State of Oregon, Veterans Welfare Bonds, GO, 5.50%, 12/01/2053 | 270 | 279 | ||||||
State of Oregon, Veterans Welfare Bonds Series, GO, 3.00%, 12/01/2051 | 1,370 | 1,273 | ||||||
University of Oregon, Series A, Rev., 5.00%, 04/01/2048 | 1,000 | 1,010 | ||||||
Yamhill County Hospital Authority, Friendsview, Series B3, Rev., 1.75%, 11/15/2026 | 1,360 | 1,303 | ||||||
|
|
|||||||
48,346 | ||||||||
|
|
|||||||
Pennsylvania 5.3% |
||||||||
Allegheny County Airport Authority, |
||||||||
Series A, Rev., AGM, AMT, 4.00%, 01/01/2046 | 11,800 | 9,961 | ||||||
Series A, Rev., AGM-CR, AMT, 4.00%, 01/01/2056 | 8,920 | 7,152 | ||||||
Series B, Rev., AGM, 4.00%, 01/01/2039 | 2,635 | 2,463 | ||||||
Allegheny County Hospital Development Authority, Health Network Obligations, |
||||||||
Rev., 5.00%, 04/01/2033 | 1,000 | 1,020 | ||||||
Series A, Rev., 5.00%, 04/01/2047 | 1,560 | 1,504 | ||||||
Allegheny County Hospital Development Authority, University of Pittsburgh Medical Center, |
||||||||
Rev., 4.00%, 07/15/2038 | 2,185 | 1,996 | ||||||
Rev., 5.00%, 07/15/2030 | 1,000 | 1,052 | ||||||
Allegheny County Industrial Development Authority, United States Steel Corp., Rev., 4.88%, 11/01/2024 | 1,500 | 1,497 | ||||||
Allegheny County Sanitary Authority, Rev., 5.75%, 06/01/2047 | 2,250 | 2,447 | ||||||
Allegheny County, Hospital Development Authority, Pittsburg University Medical Center, |
||||||||
Series A, Rev., 4.00%, 07/15/2036 | 2,200 | 2,073 | ||||||
Series A, Rev., 5.00%, 07/15/2027 | 765 | 793 | ||||||
Allegheny County, Sanitary Authority, |
||||||||
Series B, Rev., 4.00%, 06/01/2035 | 400 | 395 | ||||||
Series B, Rev., 4.00%, 06/01/2036 | 675 | 666 | ||||||
Series B, Rev., 5.00%, 06/01/2030 | 500 | 543 | ||||||
Allentown Neighborhood Improvement Zone Development Authority, Forward Delivery, Rev., 5.00%, 05/01/2042 | 1,000 | 930 | ||||||
Allentown Neighborhood Improvement Zone Development Authority, Senior Tax Revenue, Rev., 6.00%, 05/01/2042 (e) | 180 | 179 | ||||||
Altoona Area School District, GO, BAM, 5.00%, 12/01/2048 (p) | 1,000 | 1,026 | ||||||
Bentworth School District, Series A, GO, BAM, 4.00%, 03/15/2025 | 1,380 | 1,381 | ||||||
Berks County Industrial Development Authority, Tower Health Project, |
||||||||
Rev., 4.00%, 11/01/2050 | 1,500 | 848 | ||||||
Rev., 5.00%, 11/01/2047 | 2,155 | 1,225 | ||||||
Bethlehem Area School District Authority, Bethlehem Area School District, |
||||||||
Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 01/01/2030 (aa) | 230 | 225 | ||||||
Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 07/01/2031 (aa) | 290 | 283 | ||||||
Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 01/01/2032 (aa) | 240 | 234 | ||||||
Capital Region Water, Water Revenue, Rev., 5.00%, 07/15/2032 | 1,000 | 1,046 | ||||||
Central Bradford Progress Authority, Guthrie Clinic, Rev., VRDO, 4.56%, 10/06/2023 (z) | 400 | 400 | ||||||
City of Lancaster, GO, BAM, 5.00%, 11/01/2047 | 6,665 | 6,652 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Pennsylvania continued | ||||||||
City of Philadelphia, |
||||||||
GO, AGM, 5.00%, 08/01/2031 | 1,795 | 1,860 | ||||||
Series A, GO, 5.00%, 08/01/2030 | 4,000 | 4,042 | ||||||
City of Philadelphia Airport Revenue, |
||||||||
Series A, Rev., 5.00%, 07/01/2047 | 5,000 | 5,001 | ||||||
Series B, Rev., AMT, 5.00%, 07/01/2035 | 2,235 | 2,265 | ||||||
Series C, Rev., AMT, 4.00%, 07/01/2050 | 1,500 | 1,230 | ||||||
Series C, Rev., AMT, 5.00%, 07/01/2028 | 10,000 | 10,272 | ||||||
City of Philadelphia Airport Revenue, Private Activity, |
||||||||
Rev., AGM, AMT, 4.00%, 07/01/2041 | 1,100 | 971 | ||||||
Rev., AGM, AMT, 4.00%, 07/01/2046 | 3,750 | 3,159 | ||||||
City of Philadelphia, Water & Wastewater Revenue, |
||||||||
Series A, Rev., 5.00%, 11/01/2040 | 2,790 | 2,835 | ||||||
Series A, Rev., 5.00%, 11/01/2045 | 7,000 | 7,108 | ||||||
Series C, Rev., 5.00%, 06/01/2042 | 1,000 | 1,015 | ||||||
Commonwealth Financing Authority, Tobacco Master Settlement Payment, |
||||||||
Rev., AGM, 4.00%, 06/01/2039 | 6,340 | 5,747 | ||||||
Rev., 5.00%, 06/01/2025 | 1,820 | 1,846 | ||||||
Commonwealth of Pennsylvania, |
||||||||
Series 1, GO, 4.00%, 04/01/2029 | 3,000 | 2,965 | ||||||
Series 1, GO, 4.00%, 03/15/2034 | 5,000 | 4,907 | ||||||
Series 1, GO, 4.00%, 03/01/2035 | 3,650 | 3,637 | ||||||
Series 1, GO, 4.00%, 03/15/2035 | 2,000 | 1,959 | ||||||
County of Allegheny, Series C75, GO, 5.00%, 11/01/2028 | 2,305 | 2,369 | ||||||
County of Berks, GO, 4.00%, 11/15/2027 (p) | 225 | 225 | ||||||
County of Lehigh, St. Lukes Hospital Project, Rev., (SIFMA Municipal Swap Index + 1.10%), 5.08%, 08/15/2038 (aa) | 355 | 351 | ||||||
Cumberland County Municipal Authority, Rev., 5.00%, 05/01/2030 | 1,000 | 1,018 | ||||||
Cumberland Valley School District, |
||||||||
GO, 5.00%, 11/15/2032 | 150 | 150 | ||||||
GO, 5.00%, 11/15/2034 | 140 | 140 | ||||||
Delaware River Port Authority, |
||||||||
Rev., 5.00%, 01/01/2037 | 3,000 | 3,003 | ||||||
Rev., 5.00%, 01/01/2040 | 10,000 | 10,007 | ||||||
Delaware Valley Regional Finance Authority, |
||||||||
Series A, Rev., AMBAC, 5.50%, 08/01/2028 | 4,390 | 4,714 | ||||||
Series C, Rev., (ICE LIBOR USD 3 Month * 0.67 + 0.75%), 4.55%, 06/01/2037 (aa) | 250 | 209 | ||||||
Geisinger Authority, Geisinger Health System Obligation Group, Rev., 4.00%, 04/01/2039 | 1,000 | 928 | ||||||
Lancaster County Hospital Authority, Penn State Health, Rev., 5.00%, 11/01/2037 | 600 | 613 | ||||||
Lancaster Industrial Development Authority, Landis Homes Retirement Community, Rev., 4.00%, 07/01/2056 | 765 | 509 | ||||||
Lehigh County Industrial Development Authority, PPL Electric Utilities Project, Series A, Rev., 3.00%, 09/01/2029 | 3,455 | 3,161 | ||||||
Monroeville Finance Authority, |
||||||||
Series B, Rev., 5.00%, 02/15/2029 | 1,425 | 1,499 | ||||||
Series B, Rev., 5.00%, 02/15/2038 | 1,200 | 1,233 | ||||||
Series B, Rev., 5.00%, 02/15/2039 | 2,000 | 2,043 | ||||||
Montgomery County Higher Education and Health Authority, Thomas Jefferson University, Rev., 4.00%, 05/01/2038 | 250 | 228 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Pennsylvania continued | ||||||||
Montgomery County Higher Education and Health Authority, Thomas Jefferson University Project, Rev., 4.00%, 09/01/2044 | 1,610 | 1,389 | ||||||
Montgomery County Industrial Development Authority, Constellation Energy, Rev., 4.10%, 04/01/2053 (z) | 3,335 | 3,323 | ||||||
Montgomery County Industrial Development Authority, Retirement Life Communities, |
||||||||
Rev., 5.00%, 11/15/2033 | 1,500 | 1,505 | ||||||
Series C, Rev., 5.00%, 11/15/2045 | 2,585 | 2,411 | ||||||
New Castle Sanitation Authority, Series A, Rev., AGM, 3.00%, 06/01/2029 | 500 | 470 | ||||||
Norristown Area School District, GO, 5.00%, 09/01/2026 | 1,500 | 1,544 | ||||||
Pennsylvania Economic Development Financing Authority, |
||||||||
Rev., 4.00%, 05/15/2048 | 2,055 | 1,739 | ||||||
Rev., 5.00%, 05/15/2031 | 2,385 | 2,521 | ||||||
Pennsylvania Economic Development Financing Authority, Pennsylvania Bridges Finco LP P3 Project, | ||||||||
Rev., AMT, 5.00%, 12/31/2030 | 3,460 | 3,466 | ||||||
Rev., AMT, 5.00%, 12/31/2034 | 2,000 | 1,999 | ||||||
Rev., AMT, 5.00%, 06/30/2042 | 1,250 | 1,171 | ||||||
Pennsylvania Economic Development Financing Authority, Philadelphia Biosolids Facility, |
||||||||
Rev., 4.00%, 01/01/2028 | 1,590 | 1,532 | ||||||
Rev., 4.00%, 01/01/2029 | 450 | 430 | ||||||
Rev., 4.00%, 01/01/2031 | 800 | 754 | ||||||
Pennsylvania Economic Development Financing Authority, Republic Services, Inc. Project, Series B1, Rev., AMT, 4.10%, 04/01/2049 (z) | 1,000 | 1,000 | ||||||
Pennsylvania Economic Development Financing Authority, The Penndot Major Bridges, |
||||||||
Rev., AGM, AMT, 5.00%, 12/31/2057 | 6,730 | 6,482 | ||||||
Rev., AGM, AMT, 5.50%, 06/30/2042 | 5,640 | 5,923 | ||||||
Rev., AMT, 5.75%, 06/30/2048 | 3,750 | 3,911 | ||||||
Rev., AGM, AMT, 5.75%, 12/31/2062 | 2,500 | 2,622 | ||||||
Rev., AMT, 6.00%, 06/30/2061 | 1,500 | 1,581 | ||||||
Pennsylvania Economic Development Financing Authority, UPMC, |
||||||||
Series A1, Rev., 4.00%, 04/15/2045 | 5,440 | 4,701 | ||||||
Series A, Rev., 4.00%, 02/15/2042 | 1,330 | 1,174 | ||||||
Pennsylvania Economic Development Financing Authority, Waste Management Project, Rev., 0.95%, 12/01/2033 (z) | 2,000 | 1,787 | ||||||
Pennsylvania Economic Development Financing Authority, Waste Management, Inc., Rev., AMT, 1.10%, 06/01/2031 (z) | 2,000 | 1,801 | ||||||
Pennsylvania Economic Development Financing Authority, Waste Management, Inc. Project, |
||||||||
Rev., AMT, 1.75%, 08/01/2038 (z) | 5,000 | 4,889 | ||||||
Rev., AMT, (SIFMA Municipal Swap Index + 0.40%), 4.38%, 06/01/2041 (aa) | 805 | 804 | ||||||
Rev., AMT, 4.60%, 10/01/2046 (w) (z) | 9,000 | 8,997 | ||||||
Series A, Rev., AMT, 0.58%, 08/01/2037 (z) | 2,610 | 2,504 | ||||||
Pennsylvania Higher Education Assistance Agency, Series A, Rev., AMT, 5.00%, 06/01/2026 | 95 | 96 | ||||||
Pennsylvania Higher Education Assistance Agency, Senior, Series A, Rev., AMT, 5.00%, 06/01/2028 | 3,775 | 3,815 | ||||||
Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University, Rev., 5.25%, 09/01/2050 | 1,345 | 1,298 | ||||||
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Rev., 5.00%, 08/15/2042 | 1,250 | 1,254 | ||||||
Pennsylvania Higher Educational Facilities Authority, University Pennsylvania Health System, Series A, Rev., 4.00%, 08/15/2035 | 1,170 | 1,123 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Pennsylvania continued | ||||||||
Pennsylvania Housing Finance Agency, Series 133, Rev., 3.00%, 10/01/2050 | 2,945 | 2,801 | ||||||
Pennsylvania Housing Finance Agency, Social Bond, |
||||||||
Series A, Rev., 4.85%, 10/01/2043 | 4,000 | 3,925 | ||||||
Series A, Rev., 5.50%, 10/01/2053 | 1,500 | 1,542 | ||||||
Pennsylvania Housing Finance Agency, Social Bonds, Series 141A, Rev., 5.75%, 10/01/2053 | 3,050 | 3,157 | ||||||
Pennsylvania Turnpike Commission, |
||||||||
Series A1, Rev., 5.00%, 12/01/2027 | 1,000 | 1,054 | ||||||
Series A1, Rev., 5.00%, 12/01/2034 | 1,000 | 1,044 | ||||||
Series A1, Rev., 5.00%, 12/01/2045 | 7,685 | 7,727 | ||||||
Series A1, Rev., 5.00%, 12/01/2046 | 1,000 | 1,002 | ||||||
Series A2, Rev., 5.00%, 12/01/2024 | 100 | 101 | ||||||
Series A, Rev., 5.25%, 12/01/2044 | 2,500 | 2,575 | ||||||
Series B, Rev., 4.00%, 12/01/2039 | 3,000 | 2,718 | ||||||
Series B, Rev., 5.00%, 12/01/2026 | 400 | 416 | ||||||
Series B, Rev., 5.00%, 12/01/2027 | 500 | 527 | ||||||
Series B, Rev., 5.00%, 12/01/2039 | 1,305 | 1,370 | ||||||
Series B, Rev., 5.25%, 12/01/2047 | 3,000 | 3,113 | ||||||
Series C, Rev., 4.00%, 12/01/2040 | 1,400 | 1,293 | ||||||
Series C, Rev., 4.00%, 12/01/2042 | 1,555 | 1,396 | ||||||
Series C, Rev., 5.00%, 12/01/2027 | 345 | 364 | ||||||
Series C, Rev., 5.00%, 12/01/2041 | 1,560 | 1,604 | ||||||
Series C, Rev., 5.00%, 12/01/2046 | 1,350 | 1,376 | ||||||
Pennsylvania Turnpike Commission, Motor License, Rev., 5.00%, 12/01/2040 | 1,000 | 1,019 | ||||||
Pennsylvania Turnpike Commission, Subordinate, |
||||||||
Rev., 5.00%, 12/01/2030 | 1,750 | 1,820 | ||||||
Series A, Rev., 4.00%, 12/01/2043 | 2,135 | 1,880 | ||||||
Pennsylvania Turnpike Commission, Subordinated, |
||||||||
Rev., 5.00%, 06/01/2026 | 2,000 | 2,035 | ||||||
Series A, Rev., 5.00%, 12/01/2036 | 2,775 | 2,826 | ||||||
Series B2, Rev., 5.00%, 06/01/2027 | 2,480 | 2,584 | ||||||
Philadelphia Authority for Industrial Development, Rev., 5.00%, 05/01/2033 | 1,250 | 1,297 | ||||||
Philadelphia Authority for Industrial Development, String Theory Charter School, Rev., 5.00%, 06/15/2040 (e) | 900 | 835 | ||||||
Philadelphia Authority for Industrial Development, Thomas Jefferson University, |
||||||||
Series A, Rev., 5.00%, 09/01/2032 | 1,110 | 1,130 | ||||||
Series A, Rev., 5.00%, 09/01/2035 | 1,105 | 1,120 | ||||||
Series A, Rev., 5.00%, 09/01/2047 | 1,000 | 970 | ||||||
Philadelphia Gas Works Co., Series A, Rev., AGM, 4.00%, 08/01/2045 | 5,000 | 4,386 | ||||||
Pittsburgh Water & Sewer Authority, |
||||||||
Series B, Rev., AGM, 4.00%, 09/01/2036 | 500 | 476 | ||||||
Series B, Rev., AGM, 4.00%, 09/01/2038 | 500 | 468 | ||||||
Series B, Rev., AGM, 4.00%, 09/01/2045 | 2,250 | 2,011 | ||||||
Pittsburgh Water & Sewer Authority, First Lien, Series A, Rev., AGM, 5.00%, 09/01/2048 | 1,000 | 1,028 | ||||||
Ridley School District, GO, BAM, 5.25%, 11/15/2039 | 4,545 | 4,712 | ||||||
School District of Philadelphia (The), |
||||||||
Series A, GO, 5.00%, 09/01/2027 | 610 | 631 | ||||||
Series A, GO, 5.00%, 09/01/2031 | 245 | 259 | ||||||
Series A, GO, 5.00%, 09/01/2035 | 3,000 | 3,089 | ||||||
Series F, GO, 5.00%, 09/01/2035 | 5,000 | 5,029 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Pennsylvania continued | ||||||||
School District of Philadelphia (The), Green Bond, |
||||||||
Series B, GO, 5.00%, 09/01/2027 | 895 | 925 | ||||||
Series B, GO, 5.00%, 09/01/2028 | 1,485 | 1,549 | ||||||
Series B, GO, 5.00%, 09/01/2029 | 450 | 472 | ||||||
Scranton School District, Series E, GO, BAM, 4.00%, 12/01/2037 | 1,025 | 948 | ||||||
Southeastern Pennsylvania Transportation Authority, Asset Improvement Program, |
||||||||
Rev., 5.25%, 06/01/2041 | 3,000 | 3,198 | ||||||
Rev., 5.25%, 06/01/2042 | 1,500 | 1,591 | ||||||
Rev., 5.25%, 06/01/2047 | 7,750 | 8,098 | ||||||
Sports & Exhibition Authority of Pittsburgh and Allegheny County, |
||||||||
Rev., AGM, 5.00%, 02/01/2027 | 2,250 | 2,331 | ||||||
Rev., AGM, 5.00%, 02/01/2028 | 2,590 | 2,720 | ||||||
State Public School Building Authority, Northampton County Area Community, |
||||||||
Rev., BAM, 4.00%, 03/01/2029 | 1,000 | 997 | ||||||
Rev., BAM, 4.00%, 03/01/2030 | 640 | 635 | ||||||
Rev., BAM, 4.00%, 03/01/2031 | 500 | 495 | ||||||
Rev., BAM, 5.00%, 03/01/2027 | 715 | 737 | ||||||
Rev., BAM, 5.00%, 03/01/2028 | 755 | 787 | ||||||
State Public School Building Authority, Philadelphia School District, Rev., AGM, 5.00%, 06/01/2030 | 3,480 | 3,577 | ||||||
Westmoreland County Industrial Development Authority, Excela Health Project, |
||||||||
Series A, Rev., 4.00%, 07/01/2025 | 575 | 564 | ||||||
Series A, Rev., 5.00%, 07/01/2028 | 1,400 | 1,415 | ||||||
|
|
|||||||
330,975 | ||||||||
|
|
|||||||
Puerto Rico 0.9% |
||||||||
Commonwealth of Puerto Rico, Restructured, |
||||||||
Series A1, GO, 4.00%, 07/01/2033 | 481 | 431 | ||||||
Series A1, GO, 4.00%, 07/01/2041 | 505 | 406 | ||||||
Series A1, GO, 4.00%, 07/01/2046 | 525 | 405 | ||||||
Series A1, GO, 5.38%, 07/01/2025 | 1,917 | 1,937 | ||||||
Series A1, GO, 5.63%, 07/01/2027 | 4,045 | 4,151 | ||||||
Series A1, GO, 5.63%, 07/01/2029 | 2,000 | 2,066 | ||||||
Series A1, GO, 5.75%, 07/01/2031 | 2,008 | 2,097 | ||||||
Series A, GO, Zero Coupon, 07/01/2024 | 78 | 76 | ||||||
Series A, GO, Zero Coupon, 07/01/2033 | 7,410 | 4,367 | ||||||
Commonwealth of Puerto Rico, Subordinate, Note Claims, Series CW, 0.00%, 11/01/2043 (z) | 2,279 | 1,183 | ||||||
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Senior Lien, Series A, Rev., 5.00%, 07/01/2047 (e) | 1,000 | 928 | ||||||
Puerto Rico Electric Power Authority, |
||||||||
Series AAA, Rev., 5.25%, 07/01/2024 (d) | 2,450 | 613 | ||||||
Series CCC, Rev., 4.63%, 07/01/2025 (d) | 100 | 25 | ||||||
Series DDD, Rev., 5.00%, 07/01/2020 (d) | 570 | 143 | ||||||
Series NN, Rev., NATL, 4.75%, 07/01/2033 | 30 | 29 | ||||||
Series TT, Rev., 5.00%, 07/01/2020 (d) | 285 | 71 | ||||||
Series TT, Rev., 5.00%, 07/01/2021 (d) | 100 | 25 | ||||||
Series TT, Rev., 5.00%, 07/01/2037 (d) | 1,200 | 300 | ||||||
Series XX, Rev., 4.63%, 07/01/2025 (d) | 100 | 25 | ||||||
Series XX, Rev., 4.75%, 07/01/2026 (d) | 295 | 74 | ||||||
Series ZZ, Rev., 4.25%, 07/01/2020 (d) | 470 | 117 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Puerto Rico continued | ||||||||
Series ZZ, Rev., 5.25%, 07/01/2019 (d) | 580 | 145 | ||||||
Series ZZ, Rev., 5.25%, 07/01/2023 (d) | 500 | 125 | ||||||
Puerto Rico Electric Power Authority, Libor, Series UU, Rev., AGM, (ICE LIBOR USD 3 Month * 0.67 + 0.52%), 4.23%, 07/01/2029 (aa) | 500 | 469 | ||||||
Puerto Rico Highway & Transportation Authority, Restructured Toll Revenue, Series A, Rev., 5.00%, 07/01/2062 | 5,000 | 4,775 | ||||||
Puerto Rico Highway & Transportation Authority, Restructured Toll Revenue Convertible Capital Appreciation, Series C, Rev., 0.00%, 07/01/2053 | 3,000 | 1,856 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Restructured, |
||||||||
Series A1, Rev., Zero Coupon, 07/01/2031 | 2,925 | 2,072 | ||||||
Series A1, Rev., 4.75%, 07/01/2053 | 3,000 | 2,652 | ||||||
Series A1, Rev., 5.00%, 07/01/2058 | 15,250 | 13,795 | ||||||
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Restructured, |
||||||||
Series A1, Rev., 4.55%, 07/01/2040 | 1,385 | 1,274 | ||||||
Series A2, Rev., 4.33%, 07/01/2040 | 7,600 | 6,807 | ||||||
|
|
|||||||
53,439 | ||||||||
|
|
|||||||
Rhode Island 0.2% |
||||||||
Rhode Island Health and Educational Building Corp., Brown University, Series A, Rev., 4.00%, 09/01/2037 | 1,000 | 970 | ||||||
Rhode Island Housing and Mortgage Finance Corp., Series 71, Rev., GNMA COLL, 3.75%, 10/01/2049 | 330 | 321 | ||||||
Rhode Island Housing and Mortgage Finance Corp., Homeownership Opportunity, |
||||||||
Series 73A, Rev., 0.95%, 04/01/2026 | 500 | 457 | ||||||
Series 73A, Rev., 1.10%, 04/01/2027 | 300 | 267 | ||||||
Series 73A, Rev., 1.65%, 10/01/2029 | 715 | 600 | ||||||
Series 73A, Rev., 3.00%, 10/01/2050 | 1,095 | 1,042 | ||||||
Rhode Island Housing and Mortgage Finance Corp., Social Bonds, Series 75A, Rev., 3.00%, 10/01/2051 | 2,550 | 2,402 | ||||||
Rhode Island Student Loan Authority, Senior Bond, Series A, Rev., AMT, 5.00%, 12/01/2029 | 370 | 383 | ||||||
Tobacco Settlement Financing Corp., Series B, Rev., 4.50%, 06/01/2045 | 3,170 | 2,925 | ||||||
|
|
|||||||
9,367 | ||||||||
|
|
|||||||
South Carolina 0.9% |
||||||||
City of Columbia Waterworks & Sewer System Revenue, Rev., 5.00%, 02/01/2047 | 2,625 | 2,732 | ||||||
Columbia Housing Authority, Colonial Bluffs Apartments, Rev., 1.25%, 08/01/2025 (z) | 770 | 748 | ||||||
Lexington County Health Services District, Inc., Lexmed Obligated Group, |
||||||||
Rev., 4.00%, 11/01/2030 | 1,000 | 971 | ||||||
Rev., 4.00%, 11/01/2031 | 1,000 | 962 | ||||||
Patriots Energy Group Financing Agency, Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 10/01/2048 (z) | 40 | 40 | ||||||
South Carolina Jobs-Economic Development Authority, Bon Secours Mercy Health, Series S, Rev., 5.00%, 12/01/2048 (z) | 1,000 | 1,012 | ||||||
South Carolina Jobs-Economic Development Authority, McLeod Health Projects, Rev., 5.00%, 11/01/2048 | 1,000 | 1,000 | ||||||
South Carolina Jobs-Economic Development Authority, Prisma Health Obligated Group, Series A, Rev., 5.00%, 05/01/2030 | 1,500 | 1,528 | ||||||
South Carolina Jobs-Economic Development Authority, Prisma Health Obligation Group, Rev., VRDO, 4.53%, 10/06/2023 (z) | 4,800 | 4,800 | ||||||
South Carolina Ports Authority, Rev., AMT, 5.00%, 07/01/2043 | 5,680 | 5,561 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
South Carolina continued | ||||||||
South Carolina Public Service Authority, |
||||||||
Series A, Rev., 4.00%, 12/01/2033 | 1,000 | 943 | ||||||
Series A, Rev., 4.00%, 12/01/2034 | 2,000 | 1,883 | ||||||
Series A, Rev., 4.00%, 12/01/2037 | 2,000 | 1,828 | ||||||
Series A, Rev., 4.00%, 12/01/2038 | 520 | 471 | ||||||
Series A, Rev., 5.00%, 12/01/2024 | 500 | 504 | ||||||
Series A, Rev., 5.00%, 12/01/2027 | 1,525 | 1,573 | ||||||
Series A, Rev., 5.00%, 12/01/2028 | 1,700 | 1,720 | ||||||
Series A, Rev., 5.00%, 12/01/2029 | 85 | 89 | ||||||
Series A, Rev., 5.00%, 12/01/2031 | 4,500 | 4,709 | ||||||
Series A, Rev., 5.00%, 12/01/2032 | 1,000 | 1,046 | ||||||
Series B, Rev., 5.00%, 12/01/2040 | 1,000 | 1,011 | ||||||
Series B, Rev., 5.00%, 12/01/2041 | 1,000 | 980 | ||||||
South Carolina Public Service Authority, Bond Exchange, Series A, Rev., 5.00%, 12/01/2050 | 5,000 | 4,855 | ||||||
South Carolina Public Service Authority, Obligations, Series C, Rev., 5.00%, 12/01/2027 | 1,600 | 1,634 | ||||||
South Carolina Public Service Authority, Unrefunded Obligations, Series C, Rev., 5.00%, 12/01/2046 | 3,000 | 2,920 | ||||||
South Carolina State Housing Finance & Development Authority, |
||||||||
Series A, Rev., 3.00%, 01/01/2052 | 685 | 644 | ||||||
Series A, Rev., 4.00%, 01/01/2052 | 860 | 836 | ||||||
Series B, Rev., 3.25%, 01/01/2052 | 6,575 | 6,280 | ||||||
South Carolina State Housing Finance & Development Authority, James Lewis Jr. Eastside, Rev., FNMA COLL, 0.30%, 09/01/2024 (z) | 2,190 | 2,144 | ||||||
South Carolina State Housing Finance & Development Authority, Villages At Congaree, Rev., 1.25%, 06/01/2025 (z) | 895 | 874 | ||||||
Spartanburg Housing Authority, Hickory Heights And Oakland, Rev., HUD, 0.29%, 10/01/2024 (z) | 1,000 | 1,000 | ||||||
Spartanburg Regional Health Services District, Services District, Inc., |
||||||||
Rev., 5.00%, 04/15/2026 | 565 | 574 | ||||||
Rev., 5.00%, 04/15/2028 | 500 | 498 | ||||||
|
|
|||||||
58,370 | ||||||||
|
|
|||||||
South Dakota 0.1% |
||||||||
County of Lincoln, GO, 5.00%, 12/01/2048 | 3,000 | 3,021 | ||||||
County of Lincoln, Augustana College Association, Rev., 4.00%, 08/01/2041 | 250 | 203 | ||||||
South Dakota Housing Development Authority, Series C, Rev., GNMA/FNMA/FHLMC, 3.50%, 05/01/2051 | 995 | 956 | ||||||
South Dakota Housing Development Authority, Homeownership Mortgage, Series B, Rev., 3.00%, 11/01/2051 | 2,735 | 2,575 | ||||||
|
|
|||||||
6,755 | ||||||||
|
|
|||||||
Tennessee 1.4% |
||||||||
Chattanooga Health Educational & Housing Facility Board, Commonspirit Health, Series A1, Rev., 5.00%, 08/01/2028 | 305 | 315 | ||||||
City of Clarksville Water Sewer & Gas Revenue, Rev., 5.00%, 02/01/2041 (p) | 965 | 994 | ||||||
City of Memphis Storm Water System Revenue, Rev., 5.00%, 10/01/2044 | 3,365 | 3,429 | ||||||
County of Coffee, GO, 5.00%, 06/01/2026 | 250 | 259 | ||||||
Health Educational and Housing Facility Board of the City of Memphis (The), Tillman Cove Apartments, Rev., HUD, 0.55%, 12/01/2024 (z) | 2,275 | 2,197 | ||||||
Knox County Health Educational & Housing Facility Board, Westview Towers Project, Rev., HUD, 3.95%, 12/01/2027 (z) | 410 | 399 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Tennessee continued | ||||||||
Knoxvilles Community Development Corp., Austin 1B Apartments Project, Rev., 0.22%, 10/01/2024 (z) | 320 | 320 | ||||||
Lewisburg Industrial Development Board, Waste Management, Rev., AMT, 4.13%, 07/02/2035 (z) | 3,925 | 3,923 | ||||||
Memphis-Shelby County Airport Authority, |
||||||||
Rev., AMT, 5.00%, 07/01/2032 | 270 | 276 | ||||||
Rev., AMT, 5.00%, 07/01/2043 | 2,055 | 2,019 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Belmont University, Rev., 5.25%, 05/01/2048 | 1,250 | 1,275 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Vanderbilt University Medical Center, Rev., 5.00%, 07/01/2046 | 1,285 | 1,263 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bond, Vanderbilt University Medical Center, Series A, Rev., 5.00%, 07/01/2040 | 7,555 | 7,500 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds, Richland Hills Apartments Project, Rev., HUD, 1.25%, 12/01/2024 (z) | 5,644 | 5,614 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds, Vanderbilt University Medical, Rev., 5.00%, 07/01/2031 | 2,785 | 2,920 | ||||||
Metropolitan Government Nashville & Davidson County Industrial Development Board, Waste Management, Inc. Tenn Project, Rev., AMT, 0.58%, 08/01/2031 (z) | 600 | 581 | ||||||
Metropolitan Government Nashville & Davidson County Sports Authority, Stadium Project Senior Lien, Series A, Rev., AGM, 5.25%, 07/01/2048 | 2,925 | 3,023 | ||||||
Metropolitan Government of Nashville & Davidson County, Water & Sewer Revenue, Subordinate, Series B, Rev., 5.00%, 07/01/2035 | 1,500 | 1,549 | ||||||
Metropolitan Nashville Airport Authority (The), |
||||||||
Series B, Rev., AMT, 5.00%, 07/01/2026 | 70 | 71 | ||||||
Series B, Rev., AMT, 5.00%, 07/01/2027 | 170 | 174 | ||||||
Series B, Rev., AMT, 5.25%, 07/01/2033 | 270 | 290 | ||||||
Series B, Rev., AMT, 5.25%, 07/01/2047 | 3,500 | 3,558 | ||||||
Series B, Rev., AMT, 5.50%, 07/01/2038 | 1,625 | 1,720 | ||||||
State of Tennessee, GO, 5.00%, 05/01/2041 | 7,470 | 7,948 | ||||||
Tennergy Corp., Series A, Rev., 4.00%, 12/01/2051 (z) | 5,500 | 5,264 | ||||||
Tennergy Corp., Gas Supply Bonds, Series A, Rev., 5.50%, 10/01/2053 (z) | 5,000 | 5,078 | ||||||
Tennessee Energy Acquisition Corp., |
||||||||
Rev., 4.00%, 11/01/2049 (z) | 4,480 | 4,395 | ||||||
Rev., 5.00%, 05/01/2052 (z) | 18,000 | 17,838 | ||||||
Tennessee Energy Acquisition Corp., Gas Project, Series A1, Rev., 5.00%, 05/01/2053 (z) | 4,000 | 3,991 | ||||||
Tennessee Housing Development Agency, Residential Finance Program I, Rev., 3.75%, 01/01/2050 | 225 | 217 | ||||||
|
|
|||||||
88,400 | ||||||||
|
|
|||||||
Texas 10.4% |
||||||||
Argyle Independent School District, Series A, GO, PSF-GTD, 5.00%, 08/15/2027 | 1,000 | 1,050 | ||||||
Arlington Higher Education Finance Corp., |
||||||||
Series A, Rev., PSF-GTD, 4.00%, 08/15/2024 | 200 | 200 | ||||||
Series A, Rev., PSF-GTD, 4.00%, 08/15/2025 | 445 | 444 | ||||||
Series A, Rev., PSF-GTD, 4.00%, 08/15/2026 | 265 | 264 | ||||||
Series A, Rev., PSF-GTD, 4.00%, 08/15/2030 | 425 | 420 | ||||||
Series A, Rev., PSF-GTD, 5.00%, 08/15/2031 | 555 | 593 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Arlington Higher Education Finance Corp., Legacy Traditional Schools, |
||||||||
Rev., 4.13%, 02/15/2041 | 815 | 601 | ||||||
Rev., 6.00%, 02/15/2042 (e) | 250 | 230 | ||||||
Arlington Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026 | 775 | 797 | ||||||
Austin Community College District, |
||||||||
GO, 5.00%, 08/01/2048 | 3,500 | 3,648 | ||||||
GO, 5.25%, 08/01/2053 | 1,500 | 1,585 | ||||||
Austin Convention Enterprises, Inc., First Tier Convention Center, Rev., 5.00%, 01/01/2033 | 1,125 | 1,118 | ||||||
Austin Independent School District, |
||||||||
GO, 5.00%, 08/01/2026 | 1,000 | 1,036 | ||||||
GO, 5.00%, 08/01/2038 | 500 | 532 | ||||||
Barbers Hill Independent School District, |
||||||||
GO, PSF-GTD, 5.00%, 02/15/2033 | 1,010 | 1,104 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2035 | 3,000 | 3,259 | ||||||
Bastrop Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040 | 2,000 | 2,120 | ||||||
Beaumont Independent School District, GO, PSF-GTD, 5.00%, 02/15/2028 | 1,535 | 1,575 | ||||||
Bells Independent School District, GO, PSF-GTD, 4.25%, 02/15/2053 | 2,310 | 2,088 | ||||||
Bexar County Hospital District, Certificate Obligation, GO, 5.00%, 02/15/2043 | 2,750 | 2,833 | ||||||
Bexar County Hospital District, Certificates of Obligation, |
||||||||
GO, 5.00%, 02/15/2036 | 370 | 395 | ||||||
GO, 5.00%, 02/15/2037 | 230 | 244 | ||||||
Board of Regents of the University of Texas System, |
||||||||
Series A, Rev., 5.00%, 08/15/2030 | 1,000 | 1,084 | ||||||
Series E, Rev., 5.00%, 08/15/2027 | 1,000 | 1,049 | ||||||
Board of Regents of the University of Texas System, Financing System, Series A, Rev., 4.00%, 08/15/2036 | 1,000 | 957 | ||||||
Boerne Independent School District, GO, PSF-GTD, 3.13%, 02/01/2053 (z) | 1,775 | 1,717 | ||||||
Brazoria County Toll Road Authority, Subordinated Lien, Series A, Rev., CNTY GTD, 5.00%, 03/01/2033 | 1,670 | 1,739 | ||||||
Brazosport Independent School District, |
||||||||
GO, PSF-GTD, 5.00%, 02/15/2029 | 2,000 | 2,129 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2030 | 1,925 | 2,041 | ||||||
Cameron County Housing Finance Corp., Sunland Country Apartments, Rev., 3.95%, 02/01/2024 | 715 | 713 | ||||||
Capital Area Housing Finance Corp., Redwood Apartments, Rev., 0.41%, 01/01/2041 (z) | 6,605 | 6,524 | ||||||
Carrollton-Farmers Branch Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026 | 2,500 | 2,568 | ||||||
Central Texas Regional Mobility Authority, |
||||||||
Series B, Rev., 4.00%, 01/01/2040 | 800 | 718 | ||||||
Series B, Rev., 4.00%, 01/01/2051 | 1,250 | 1,040 | ||||||
Series B, Rev., 5.00%, 01/01/2037 | 1,000 | 1,035 | ||||||
Series B, Rev., 5.00%, 01/01/2046 | 1,500 | 1,504 | ||||||
Series C, Rev., 5.00%, 01/01/2027 | 2,000 | 2,034 | ||||||
Central Texas Regional Mobility Authority, Senior Lien, |
||||||||
Series B, Rev., 4.00%, 01/01/2039 | 600 | 544 | ||||||
Series B, Rev., 4.00%, 01/01/2040 | 500 | 449 | ||||||
Series B, Rev., 5.00%, 01/01/2024 | 230 | 230 | ||||||
Series B, Rev., 5.00%, 01/01/2045 | 3,595 | 3,615 | ||||||
Series D, Rev., 5.00%, 01/01/2033 | 480 | 509 | ||||||
Series E, Rev., 5.00%, 01/01/2045 | 2,665 | 2,679 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Central Texas Regional Mobility Authority, Subordinated, Series F, Rev., BAN, 5.00%, 01/01/2025 | 4,770 | 4,792 | ||||||
Central Texas Turnpike System, Subordinate, Series C, Rev., 5.00%, 08/15/2042 | 5,000 | 4,712 | ||||||
Chapel Hill Independent School District/Smith County, GO, PSF-GTD, 5.00%, 02/15/2039 | 700 | 737 | ||||||
City Austin, Certificates Obligation, |
||||||||
GO, 5.00%, 09/01/2032 | 1,750 | 1,889 | ||||||
GO, 5.00%, 09/01/2033 | 1,100 | 1,184 | ||||||
GO, 5.00%, 09/01/2034 | 1,750 | 1,880 | ||||||
City of Arlington, Tax Increment Reinvestment Zone, Tax Allocation, 4.00%, 08/15/2041 | 1,000 | 825 | ||||||
City of Austin Water & Wastewater System Revenue, |
||||||||
Rev., 4.00%, 11/15/2036 | 185 | 184 | ||||||
Rev., 5.00%, 11/15/2039 | 500 | 502 | ||||||
Rev., 5.00%, 11/15/2041 | 7,000 | 7,067 | ||||||
Series C, Rev., 5.00%, 11/15/2025 (p) | 510 | 522 | ||||||
Series C, Rev., 5.00%, 11/15/2032 | 1,000 | 1,080 | ||||||
City of Austin, Airport System Revenue, |
||||||||
Rev., AMT, 5.00%, 11/15/2029 | 1,400 | 1,451 | ||||||
Rev., AMT, 5.00%, 11/15/2040 | 1,500 | 1,496 | ||||||
Series B, Rev., AMT, 5.00%, 11/15/2030 | 1,000 | 1,030 | ||||||
Series B, Rev., AMT, 5.00%, 11/15/2033 | 1,130 | 1,146 | ||||||
Series B, Rev., AMT, 5.00%, 11/15/2036 | 3,335 | 3,364 | ||||||
City of Austin, Electric Utility Revenue, |
||||||||
Series A, Rev., 5.00%, 11/15/2038 | 1,265 | 1,268 | ||||||
Series B, Rev., 5.00%, 11/15/2037 | 1,505 | 1,573 | ||||||
Series B, Rev., 5.00%, 11/15/2038 | 1,340 | 1,394 | ||||||
Series B, Rev., 5.00%, 11/15/2044 | 1,000 | 1,021 | ||||||
City of Austin, Refunding & Public Improvement, GO, 5.00%, 09/01/2033 | 620 | 667 | ||||||
City of Corpus Christi, Utility System Revenue, |
||||||||
Rev., 5.00%, 07/15/2028 | 1,885 | 1,990 | ||||||
Rev., 5.00%, 07/15/2039 | 1,000 | 1,047 | ||||||
City of Dallas Waterworks & Sewer System Revenue, |
||||||||
Series A, Rev., 5.00%, 10/01/2047 | 5,000 | 5,203 | ||||||
Series C, Rev., 4.00%, 10/01/2031 | 2,000 | 2,013 | ||||||
City of Dallas, Waterworks & Sewer System Revenue, |
||||||||
Series C, Rev., 4.00%, 10/01/2039 | 7,470 | 6,971 | ||||||
Series C, Rev., 4.00%, 10/01/2040 | 1,000 | 927 | ||||||
Series C, Rev., 5.00%, 10/01/2029 | 1,125 | 1,207 | ||||||
City of Eagle Pass, Certificates Obligation, |
||||||||
GO, AGM, 4.00%, 03/01/2039 | 500 | 454 | ||||||
GO, AGM, 4.00%, 03/01/2041 | 680 | 620 | ||||||
City of Fort Worth, GO, 4.00%, 03/01/2030 | 1,150 | 1,145 | ||||||
City of Garland, Certificates Obligation, GO, 5.00%, 02/15/2024 | 275 | 276 | ||||||
City of Haslet, Improvement Area Second Project, Special Assessment, 3.25%, 09/01/2031 (e) | 500 | 410 | ||||||
City of Houston, Airport System Revenue, Series C, Rev., AMT, 5.00%, 07/01/2028 | 470 | 484 | ||||||
City of Houston Airport System Revenue, Subordinated Lien, |
||||||||
Series A, Rev., AMT, 4.00%, 07/01/2035 | 1,000 | 941 | ||||||
Series A, Rev., AMT, 4.00%, 07/01/2040 | 3,570 | 3,224 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2024 | 1,000 | 1,003 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2028 | 1,890 | 1,945 | ||||||
Series A, Rev., AGM, AMT, 5.00%, 07/01/2028 | 550 | 566 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Series A, Rev., AGM, AMT, 5.00%, 07/01/2029 | 1,580 | 1,637 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2034 | 2,500 | 2,584 | ||||||
Series A, Rev., AGM, AMT, 5.00%, 07/01/2037 | 2,000 | 2,060 | ||||||
Series B, Rev., 5.00%, 07/01/2026 | 1,000 | 1,031 | ||||||
Series B, Rev., 5.00%, 07/01/2027 | 1,995 | 2,090 | ||||||
City of Houston Airport System Revenue, United Airlines, Inc. Terminal, Rev., AMT, 4.00%, 07/15/2041 | 4,365 | 3,618 | ||||||
City of Houston Combined Utility System Revenue, First Lien, Series A, Rev., 4.00%, 11/15/2033 | 1,200 | 1,203 | ||||||
City of Houston Combined Utility System Revenue, Subordinate First Lien, Rev., 5.00%, 11/15/2034 | 1,000 | 1,021 | ||||||
City of Houston Hotel Occupancy Tax & Special Revenue, Convention & Entertainment, |
||||||||
Rev., 4.00%, 09/01/2024 | 150 | 149 | ||||||
Rev., 4.00%, 09/01/2025 | 45 | 45 | ||||||
Rev., 4.00%, 09/01/2029 | 280 | 279 | ||||||
City of Houston, Airport System Revenue, Special Facilities, United Airlines, Inc., Rev., AMT, 5.00%, 07/15/2028 | 600 | 597 | ||||||
City of Houston, Combined Utility System Revenue, First Lien, |
||||||||
Series A, Rev., 5.00%, 11/15/2029 | 1,100 | 1,180 | ||||||
Series C, Rev., 5.00%, 11/15/2029 | 3,100 | 3,334 | ||||||
City of Justin, Timberbrook Public Improvement, Special Assessment, 3.00%, 09/01/2031 (e) | 315 | 266 | ||||||
City of Kyle, 6 Creeks Public Improvement, Special Assessment, 2.63%, 09/01/2025 (e) | 242 | 227 | ||||||
City of Lewisville, Waterworks & Sewer System Revenue, Rev., 5.00%, 02/15/2038 | 1,015 | 1,079 | ||||||
City of Lubbock Electric Light & Power System Revenue, |
||||||||
Rev., 5.00%, 04/15/2026 | 800 | 820 | ||||||
Rev., 5.00%, 04/15/2027 | 785 | 813 | ||||||
Rev., 5.00%, 04/15/2028 | 900 | 942 | ||||||
City of McKinney Waterworks & Sewer System Revenue, Rev., 5.00%, 03/15/2026 | 350 | 360 | ||||||
City of Palestine, Certificates Obligation, GO, AGM, 4.00%, 02/15/2046 | 5,000 | 4,258 | ||||||
City of San Antonio Electric & Gas Systems Revenue, |
||||||||
Rev., 4.00%, 02/01/2030 | 1,660 | 1,666 | ||||||
Rev., 5.00%, 02/01/2025 | 3,095 | 3,140 | ||||||
City of San Antonio Electric & Gas Systems Revenue, Junior Lien, |
||||||||
Rev., 4.00%, 02/01/2037 | 1,000 | 958 | ||||||
Rev., (SIFMA Municipal Swap Index + 0.87%), 4.85%, 02/01/2048 (aa) | 3,000 | 2,994 | ||||||
Series D, Rev., 1.13%, 12/01/2045 (z) | 6,510 | 5,754 | ||||||
City of San Antonio, Electric & Gas Systems Revenue, Rev., 4.00%, 02/01/2027 | 2,000 | 2,008 | ||||||
Cleburne Independent School District, School Building, GO, PSF-GTD, 5.00%, 02/15/2036 | 1,065 | 1,080 | ||||||
Clifton Higher Education Finance Corp., Idea Public School, |
||||||||
Rev., PSF-GTD, 5.00%, 08/15/2026 | 1,840 | 1,899 | ||||||
Series A, Rev., 4.00%, 08/15/2035 | 415 | 380 | ||||||
Series A, Rev., 4.00%, 08/15/2047 | 1,300 | 1,015 | ||||||
Series T, Rev., PSF-GTD, 4.00%, 08/15/2036 | 700 | 658 | ||||||
Series T, Rev., PSF-GTD, 4.00%, 08/15/2047 | 1,175 | 988 | ||||||
Series T, Rev., PSF-GTD, 5.00%, 08/15/2024 | 65 | 65 | ||||||
Series T, Rev., PSF-GTD, 5.00%, 08/15/2025 | 70 | 71 | ||||||
Series T, Rev., PSF-GTD, 5.00%, 08/15/2026 | 55 | 57 | ||||||
Series T, Rev., PSF-GTD, 5.00%, 08/15/2027 | 30 | 31 | ||||||
Series T, Rev., PSF-GTD, 5.00%, 08/15/2028 | 40 | 42 | ||||||
Series T, Rev., PSF-GTD, 5.00%, 08/15/2030 | 215 | 233 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Clifton Higher Education Finance Corp., International Leadership of Texas, |
||||||||
Rev., PSF-GTD, 4.00%, 08/15/2024 | 115 | 115 | ||||||
Rev., PSF-GTD, 4.00%, 08/15/2025 | 145 | 145 | ||||||
Conroe Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2024 | 750 | 753 | ||||||
Corpus Christi Independent School District, GO, PSF-GTD, 5.00%, 08/15/2038 | 1,625 | 1,727 | ||||||
County of Bexar, |
||||||||
GO, 4.00%, 06/15/2040 | 11,085 | 10,189 | ||||||
GO, 5.00%, 06/15/2043 (p) | 2,000 | 2,067 | ||||||
County of Collin, GO, 5.00%, 02/15/2029 | 2,000 | 2,136 | ||||||
County of Dallas, Certificates of Obligation, GO, 5.00%, 08/15/2041 | 2,550 | 2,687 | ||||||
County of Denton, GO, 5.00%, 07/15/2027 | 1,000 | 1,048 | ||||||
County of El Paso, Series A, GO, 5.00%, 02/15/2027 | 1,430 | 1,465 | ||||||
County of Harris, |
||||||||
Series A, GO, 5.00%, 10/01/2024 | 1,900 | 1,921 | ||||||
Series A, GO, 5.00%, 10/01/2029 | 1,150 | 1,237 | ||||||
County of Harris, Subordinate, Series A, GO, 5.00%, 08/15/2026 | 1,750 | 1,812 | ||||||
County of Nueces, GO, 5.00%, 02/15/2029 | 460 | 487 | ||||||
Cypress-Fairbanks Independent School District, School Building, Series B2, GO, PSF-GTD, 0.28%, 02/15/2040 (z) | 1,350 | 1,303 | ||||||
Dallas Area Rapid Transit, |
||||||||
Series A, Rev., 5.00%, 12/01/2029 (p) | 1,890 | 1,937 | ||||||
Series A, Rev., 5.00%, 12/01/2046 (p) | 2,000 | 2,050 | ||||||
Dallas Area Rapid Transit, Senior Lien, |
||||||||
Rev., 5.00%, 12/01/2032 | 1,000 | 1,070 | ||||||
Series B, Rev., 4.00%, 12/01/2051 | 2,000 | 1,712 | ||||||
Dallas Fort Worth International Airport, |
||||||||
Series B, Rev., 5.00%, 11/01/2050 | 4,000 | 4,017 | ||||||
Series C, Rev., AMT, 5.00%, 11/01/2030 | 5,000 | 5,175 | ||||||
Dallas Fort Worth International Airport, Dallas Fort Worth International, |
||||||||
Rev., 5.00%, 11/01/2025 | 1,825 | 1,867 | ||||||
Rev., 5.00%, 11/01/2026 | 2,850 | 2,956 | ||||||
Dallas Independent School District, |
||||||||
GO, PSF-GTD, 5.00%, 02/15/2026 | 1,240 | 1,277 | ||||||
Series B, GO, PSF-GTD, 3.00%, 02/15/2034 | 1,370 | 1,187 | ||||||
Deer Park Independent School District, GO, PSF-GTD, 5.00%, 08/15/2028 | 1,000 | 1,064 | ||||||
Del Valle Independent School District, |
||||||||
GO, PSF-GTD, 4.00%, 06/15/2031 | 3,085 | 3,121 | ||||||
GO, PSF-GTD, 4.00%, 06/15/2032 | 3,405 | 3,437 | ||||||
GO, PSF-GTD, 4.00%, 06/15/2033 | 5,740 | 5,784 | ||||||
GO, PSF-GTD, 4.00%, 06/15/2034 | 3,280 | 3,300 | ||||||
GO, PSF-GTD, 5.00%, 06/15/2026 | 1,750 | 1,806 | ||||||
Denton Independent School District, |
||||||||
GO, PSF-GTD, 5.00%, 08/15/2027 | 1,600 | 1,680 | ||||||
GO, PSF-GTD, 5.00%, 08/15/2034 | 950 | 1,051 | ||||||
GO, PSF-GTD, 5.00%, 08/15/2037 | 1,000 | 1,074 | ||||||
Eagle Mountain & Saginaw Independent School District, GO, PSF-GTD, 5.00%, 08/15/2026 | 1,000 | 1,034 | ||||||
Forney Independent School District, GO, PSF-GTD, 5.00%, 08/15/2040 | 600 | 630 | ||||||
Fort Bend Grand Parkway Toll Road Authority, |
||||||||
Series A, Rev., CNTY GTD, 5.00%, 03/01/2026 | 750 | 770 | ||||||
Series A, Rev., CNTY GTD, 5.00%, 03/01/2027 | 285 | 297 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Series A, Rev., CNTY GTD, 5.00%, 03/01/2029 | 390 | 416 | ||||||
Series A, Rev., CNTY GTD, 5.00%, 03/01/2030 | 1,000 | 1,077 | ||||||
Fort Bend Independent School District, |
||||||||
Series B, GO, PSF-GTD, 0.72%, 08/01/2051 (z) | 625 | 543 | ||||||
Series B, GO, PSF-GTD, 0.88%, 08/01/2050 (z) | 845 | 793 | ||||||
Series B, GO, PSF-GTD, 3.65%, 08/01/2052 (z) | 4,000 | 3,976 | ||||||
Fort Worth Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040 | 1,750 | 1,846 | ||||||
Frisco Independent School District, school Building, Series A, GO, PSF-GTD, 4.00%, 08/15/2032 | 2,140 | 2,124 | ||||||
Galveston Public Facility Corp., The Oleanders At Broadway, Rev., HUD, 0.47%, 08/01/2025 (z) | 560 | 539 | ||||||
Garland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2037 | 500 | 536 | ||||||
Goose Creek Consolidated Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026 | 900 | 925 | ||||||
Grand Parkway Transportation Corp., Grand Parkway System, Rev., 4.00%, 10/01/2045 | 10,125 | 8,691 | ||||||
Grand Parkway Transportation Corp., Subordinated Tier Toll, Series B, Rev., 5.00%, 04/01/2053 (p) | 100 | 100 | ||||||
Greater Texoma Utility Authority, City of Sherman Project, Series A, Rev., BAM, 4.00%, 10/01/2043 | 1,940 | 1,683 | ||||||
Gregory-Portland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2025 | 1,000 | 1,016 | ||||||
Hale Center Education Facilities Corp., Wayland Baptist University Project, Rev., 5.00%, 03/01/2034 | 1,265 | 1,269 | ||||||
Harlandale Independent School District, GO, PSF-GTD, 0.75%, 08/15/2045 (z) | 465 | 437 | ||||||
Harlandale Independent School District, Variable Maintenance Tax Notes, GO, BAM, 2.00%, 08/15/2040 (z) | 350 | 344 | ||||||
Harlingen Consolidated Independent School District, GO, PSF-GTD, 5.00%, 08/15/2024 | 80 | 81 | ||||||
Harris County Cultural Education Facilities Finance Corp., Medical Facilities Mortgage Revenue, Rev., (United States SOFR * 0.70 + 0.73%), 4.44%, 11/15/2046 (aa) | 1,130 | 1,130 | ||||||
Harris County Cultural Education Facilities Finance Corp., Texas Childrens Hospital, |
||||||||
Rev., 4.00%, 10/01/2041 | 3,205 | 2,857 | ||||||
Rev., 5.00%, 10/01/2051 (z) | 3,000 | 3,229 | ||||||
Harris County Cultural Education Facilities Finance Corp., Texas Medical Center, Series A, Rev., 0.90%, 05/15/2050 (z) | 6,315 | 5,919 | ||||||
Harris County Flood Control District, Series A, GO, 5.00%, 10/01/2029 | 1,700 | 1,820 | ||||||
Harris County Flood Control District, Sustainability Bond, |
||||||||
Series A, GO, 4.00%, 09/15/2041 | 2,500 | 2,269 | ||||||
Series A, GO, 4.00%, 09/15/2048 | 9,000 | 7,884 | ||||||
Harris County Industrial Development Corp., Energy Transfer, Rev., 4.05%, 11/01/2050 (z) | 2,000 | 1,904 | ||||||
Harris County Toll Road Authority, First Lien, Rev., 5.00%, 08/15/2030 | 1,200 | 1,290 | ||||||
Harris County, Toll Road Authority, Senior Lien, Series A, Rev., 5.00%, 08/15/2024 | 100 | 101 | ||||||
Hays Consolidated Independent School District, |
||||||||
GO, PSF-GTD, 5.00%, 02/15/2025 | 480 | 487 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2038 | 1,000 | 1,058 | ||||||
Hidalgo County Regional Mobility Authority, Senior Lien, |
||||||||
Series A, Rev., 5.00%, 12/01/2032 | 1,000 | 1,034 | ||||||
Series A, Rev., 5.00%, 12/01/2033 | 575 | 591 | ||||||
Series A, Rev., 5.00%, 12/01/2034 | 750 | 766 | ||||||
Housing Options, Inc., The Oaks Project, Rev., 0.50%, 08/01/2041 (z) | 240 | 224 | ||||||
Houston Higher Education Finance Corp., Houston Baptist University, Rev., 4.00%, 10/01/2051 | 1,100 | 820 | ||||||
Houston Higher Education Finance Corp., Kipp, Inc., Rev., PSF-GTD, 4.00%, 08/15/2040 | 2,500 | 2,291 | ||||||
Houston Housing Finance Corp., Summerdale Apartments, Rev., 5.00%, 08/01/2041 (z) | 315 | 319 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Houston Independent School District, Series C, GO, PSF-GTD, 4.00%, 06/01/2039 (z) | 4,350 | 4,332 | ||||||
Hutto Independent School District, GO, PSF-GTD, 5.00%, 08/01/2048 | 2,400 | 2,490 | ||||||
Irving Independent School District, | ||||||||
GO, PSF-GTD, 5.00%, 02/15/2028 | 500 | 529 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2035 | 2,300 | 2,521 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2038 | 4,375 | 4,658 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2041 | 250 | 262 | ||||||
Jarrell Independent School District, GO, PSF-GTD, 5.00%, 02/15/2037 | 725 | 773 | ||||||
Katy Independent School District, Series B, GO, PSF-GTD, 5.00%, 02/15/2036 | 2,475 | 2,525 | ||||||
Kilgore Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026 | 450 | 463 | ||||||
La Porte Independent School District, GO, PSF-GTD, 5.00%, 02/15/2038 | 1,000 | 1,066 | ||||||
Lake Houston Redevelopment Authority, Rev., 4.00%, 09/01/2035 | 250 | 222 | ||||||
Lake Travis Independent School District, School Building, Series A, GO, PSF-GTD, 5.00%, 02/15/2043 (p) | 1,090 | 1,136 | ||||||
Lamar Consolidated Independent School District, | ||||||||
GO, PSF-GTD, 5.00%, 02/15/2029 | 150 | 160 | ||||||
Series A, GO, PSF-GTD, 5.00%, 02/15/2058 | 4,335 | 4,434 | ||||||
Leander Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026 | 1,430 | 1,471 | ||||||
Love Field Airport Modernization Corp., Southwest Airlines Co. Project, Rev., AMT, 5.00%, 11/01/2028 | 2,000 | 1,988 | ||||||
Lower Colorado River Authority, | ||||||||
Rev., AGM, 4.00%, 05/15/2033 | 500 | 471 | ||||||
Rev., AGM, 5.00%, 05/15/2031 | 4,795 | 5,179 | ||||||
Rev., AGM, 5.00%, 05/15/2032 | 5,000 | 5,381 | ||||||
Series A, Rev., 5.00%, 05/15/2027 | 420 | 437 | ||||||
Lower Colorado River Authority, LCRA Transmission Services, Rev., 5.00%, 05/15/2027 | 700 | 728 | ||||||
Lower Colorado River Authority, LCRA Transmission Services, Rev., 5.00%, 05/15/2030 | 1,000 | 1,066 | ||||||
Lower Colorado, River Authority, Transmission Services Contract, Rev., 5.00%, 05/15/2029 | 100 | 106 | ||||||
Mansfield Independent School District, GO, PSF-GTD, 3.00%, 08/01/2036 | 1,000 | 851 | ||||||
Matagorda County Navigation District No. 1, Central Power & Light, Rev., AMT, 4.25%, 05/01/2030 | 825 | 787 | ||||||
Matagorda County Navigation District No. 1, Central Power & Light Co., Rev., 2.60%, 11/01/2029 | 3,500 | 3,027 | ||||||
Medina Valley Independent School District, | ||||||||
GO, PSF-GTD, 0.82%, 02/15/2051 (z) | 445 | 404 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2040 | 3,000 | 3,158 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Contractual Obligation, Series B, Rev., 5.00%, 11/01/2025 | 435 | 444 | ||||||
Mission Texas Economic Development Corp., Rev., AMT, 4.13%, 05/01/2050 | 4,000 | 3,998 | ||||||
New Caney Independent School District, GO, PSF-GTD, 5.00%, 02/15/2037 | 625 | 673 | ||||||
New Hope Cultural Education Facilities Finance Corp., Childrens Health System, Series A, Rev., 5.00%, 08/15/2047 | 1,000 | 981 | ||||||
New Hope Cultural Education Facilities Finance Corp., NCCD College Station Project, Series A, Rev., 5.00%, 07/01/2035 (d) | 1,500 | 1,361 | ||||||
New Hope Cultural Education Facilities Finance Corp., Westminster Project, Rev., 4.00%, 11/01/2049 | 100 | 77 | ||||||
Newark Higher Education Finance Corp., Austin Achieve Public Schools, Rev., PSF-GTD, 5.00%, 06/15/2038 | 1,365 | 1,437 | ||||||
North Central Texas Housing Finance Corp., Bluebonnet Ridge Apartment, Rev., 0.38%, 08/01/2040 (z) | 505 | 485 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
North Fort Bend Water Authority, Rev., BAM, 5.00%, 12/15/2026 | 1,520 | 1,573 | ||||||
North Texas Municipal Water District Water System Revenue, Rev., 3.00%, 09/01/2041 | 575 | 435 | ||||||
North Texas Tollway Authority, | ||||||||
Series A, Rev., 5.00%, 01/01/2029 | 1,800 | 1,842 | ||||||
Series B, Rev., 5.00%, 01/01/2027 | 1,150 | 1,159 | ||||||
North Texas Tollway Authority, Capital Appreciation, First Tier, Rev., AGC, Zero Coupon, 01/01/2030 | 1,500 | 1,151 | ||||||
North Texas Tollway Authority, First Tier Bonds, | ||||||||
Series A, Rev., 4.00%, 01/01/2035 | 2,000 | 1,969 | ||||||
Series A, Rev., 5.00%, 01/01/2037 | 1,500 | 1,573 | ||||||
Series A, Rev., 5.00%, 01/01/2040 | 4,000 | 4,096 | ||||||
North Texas Tollway Authority, Second Tier, | ||||||||
Rev., 4.25%, 01/01/2049 | 4,000 | 3,496 | ||||||
Rev., 5.00%, 01/01/2048 | 2,335 | 2,332 | ||||||
Series B, Rev., 4.00%, 01/01/2035 | 1,000 | 980 | ||||||
Series B, Rev., 4.00%, 01/01/2037 | 1,000 | 944 | ||||||
Series B, Rev., 5.00%, 01/01/2027 | 215 | 218 | ||||||
Series B, Rev., 5.00%, 01/01/2033 | 1,000 | 1,023 | ||||||
North Texas Tollway Authority, Unrefunded First Tier, Series A, Rev., 5.00%, 01/01/2025 | 45 | 45 | ||||||
Northside Independent School District, | ||||||||
GO, PSF-GTD, 0.70%, 06/01/2050 (z) | 13,550 | 12,741 | ||||||
GO, PSF-GTD, 5.00%, 08/01/2039 | 1,520 | 1,599 | ||||||
Northwest Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040 | 1,000 | 1,051 | ||||||
Northwest Independent School District, School Building, GO, PSF-GTD, 5.00%, 02/15/2042 (p) | 4,515 | 4,635 | ||||||
Odessa Housing Finance Corp., Cove in Odessa Apartments, Rev., 4.20%, 03/01/2024 (z) | 5,500 | 5,558 | ||||||
Odessa Junior College District, Consolidated Fund, Rev., AGM, 4.00%, 07/01/2026 | 1,015 | 1,018 | ||||||
Pasadena Independent School District, GO, PSF-GTD, 5.00%, 02/15/2047 | 2,000 | 2,053 | ||||||
Pearland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026 | 1,075 | 1,105 | ||||||
Pecos Barstow Toyah Independent School District, GO, PSF-GTD, 5.00%, 02/15/2027 | 300 | 312 | ||||||
Permanent University Fund - Texas A&M University System, Board Of Regents, Rev., 5.00%, 07/01/2039 | 1,500 | 1,593 | ||||||
Permanent University Fund - University of Texas System, Permanent University Fund Bonds, Rev., 5.00%, 07/01/2033 | 1,090 | 1,105 | ||||||
Plano Independent School District, GO, 5.00%, 02/15/2027 | 650 | 678 | ||||||
Port Authority of Houston of Harris County Texas, | ||||||||
Rev., 5.00%, 10/01/2026 | 850 | 881 | ||||||
Rev., 5.00%, 10/01/2028 | 1,250 | 1,327 | ||||||
Rev., 5.00%, 10/01/2029 | 1,250 | 1,336 | ||||||
Port Authority of Houston of Harris County Texas, First Lien, | ||||||||
Rev., 5.00%, 10/01/2025 | 950 | 972 | ||||||
Rev., 5.00%, 10/01/2048 | 8,500 | 8,639 | ||||||
Port Beaumont Navigation District, Jefferson Gulf Coast Energy, | ||||||||
Rev., AMT, 2.00%, 01/01/2027 (e) | 550 | 484 | ||||||
Rev., AMT, 2.25%, 01/01/2029 (e) | 800 | 659 | ||||||
Rev., AMT, 2.88%, 01/01/2041 (e) | 120 | 74 | ||||||
Port of Beaumont Industrial Development Authority, Taxable Jefferson Gulf Coast Energy, Rev., 4.10%, 01/01/2028 (e) | 3,000 | 2,372 | ||||||
Port of Port Arthur Navigation District, Motiva Enterprises, Rev., VRDO, 4.43%, 10/06/2023 (z) | 13,600 | 13,600 | ||||||
Prosper Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2030 | 25 | 27 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Rockwall Independent School District, | ||||||||
GO, PSF-GTD, 5.00%, 02/15/2027 | 1,335 | 1,391 | ||||||
Series A, GO, PSF-GTD, 5.00%, 02/15/2038 | 1,000 | 1,051 | ||||||
Round Rock Independent School District, Series A, GO, PSF-GTD, 5.00%, 08/01/2031 | 1,000 | 1,066 | ||||||
Royse City Independent School District, GO, PSF-GTD, 5.00%, 02/15/2039 | 1,000 | 1,059 | ||||||
San Antonio Education Facilities Corp., University of The Incarnate Word, | ||||||||
Rev., 4.00%, 04/01/2038 | 2,065 | 1,778 | ||||||
Rev., 4.00%, 04/01/2041 | 1,000 | 828 | ||||||
San Antonio Housing Trust Finance Corp., The Arbors At West Avenue, Rev., HUD, 1.45%, 03/01/2026 (z) | 805 | 768 | ||||||
San Antonio Water System, Series 2013F, Rev., 1.00%, 05/01/2043 (z) | 6,000 | 5,235 | ||||||
San Antonio Water System, Junior Lien, Series A, Rev., 5.00%, 05/15/2043 | 3,500 | 3,543 | ||||||
San Marcos Consolidated Independent School District, | ||||||||
GO, PSF-GTD, 5.00%, 08/15/2027 | 1,830 | 1,918 | ||||||
GO, PSF-GTD, 5.00%, 08/15/2040 | 2,000 | 2,100 | ||||||
Sherman Independent School District, Series B, GO, PSF-GTD, 5.00%, 02/15/2040 | 1,000 | 1,055 | ||||||
Southwest Independent School District, GO, PSF-GTD, 5.00%, 02/01/2027 | 410 | 426 | ||||||
Spring Branch Independent School District, GO, PSF-GTD, 5.00%, 02/01/2028 | 1,660 | 1,755 | ||||||
State of Texas, Series B, GO, 4.00%, 08/01/2030 | 60 | 60 | ||||||
State of Texas, Mobility Fund, Series B, GO, 5.00%, 10/01/2032 | 14,655 | 14,944 | ||||||
State of Texas, Public Finance Authority, GO, 5.00%, 10/01/2026 | 1,000 | 1,037 | ||||||
State of Texas, Water Financial Assistance, | ||||||||
GO, 5.00%, 08/01/2024 | 125 | 126 | ||||||
Series B, GO, 5.00%, 08/01/2037 | 1,000 | 1,013 | ||||||
Strategic Housing Finance Corp. of Travis County, ECG Yager LP Yager, Rev., 0.46%, 09/01/2041 (z) | 2,500 | 2,351 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health, | ||||||||
Rev., 4.00%, 11/15/2042 | 15,000 | 12,962 | ||||||
Series A, Rev., 5.00%, 11/15/2045 | 2,195 | 2,200 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health Project, Rev., 5.50%, 11/15/2047 | 12,415 | 12,851 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott And White Health, | ||||||||
Rev., 5.00%, 11/15/2052 (z) | 4,455 | 4,664 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., Christus Health, Series B, Rev., 5.00%, 07/01/2035 | 1,110 | 1,152 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center, Taxable, | ||||||||
Rev., AGM, 1.36%, 09/01/2024 | 800 | 768 | ||||||
Rev., AGM, 1.39%, 09/01/2025 | 600 | 553 | ||||||
Tarrant County Cultural Education Facilities Finance Corp., Methodist Hospitals of Dallas, | ||||||||
Rev., 5.00%, 10/01/2030 | 1,000 | 1,075 | ||||||
Rev., 5.00%, 10/01/2037 | 1,000 | 1,033 | ||||||
Texas Department of Housing & Community Affairs, | ||||||||
Series A, Rev., GNMA COLL, 4.00%, 03/01/2050 | 370 | 359 | ||||||
Series B, Rev., GNMA COLL, 6.00%, 03/01/2053 | 590 | 623 | ||||||
Texas Department of Housing & Community Affairs, Aspen Park, Rev., 5.00%, 03/01/2041 (z) | 1,225 | 1,232 | ||||||
Texas Department of Housing & Community Affairs, Palladium Simpson Stuart Apartments, Rev., 0.35%, 01/01/2025 (z) | 1,290 | 1,272 | ||||||
Texas Department of Housing & Community Affairs, Social Bond, Series A, Rev., GNMA, 3.50%, 07/01/2052 | 1,120 | 1,064 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Texas Department of Housing & Community Affairs, Social Bonds, Series A, Rev., GNMA, 3.00%, 01/01/2052 | 2,085 | 1,956 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. III, | ||||||||
Rev., 5.00%, 12/15/2025 | 1,305 | 1,302 | ||||||
Rev., 5.00%, 12/15/2030 | 3,300 | 3,265 | ||||||
Rev., 5.00%, 12/15/2031 | 2,000 | 1,970 | ||||||
Texas Municipal Gas Acquisition and Supply Corp. I, Series D, Rev., 6.25%, 12/15/2026 | 4,555 | 4,650 | ||||||
Texas Municipal Power Agency, Rev., AGM, 3.00%, 09/01/2038 | 500 | 385 | ||||||
Texas Private Activity Bond Surface Transportation Corp., Rev., AMT, 5.00%, 06/30/2058 | 18,170 | 17,307 | ||||||
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group, | ||||||||
Rev., 4.00%, 12/31/2030 | 3,970 | 3,787 | ||||||
Rev., 4.00%, 06/30/2033 | 1,000 | 940 | ||||||
Texas Private Activity Bond Surface Transportation Corp., Senior Lien Blueridge Transport, Rev., AMT, 5.00%, 12/31/2045 | 2,000 | 1,905 | ||||||
Texas State Affordable Housing Corp., Juniper Creek Apartments, Rev., 3.75%, 07/01/2044 (z) | 485 | 473 | ||||||
Texas Transportation Commission, Transportation Commission Mobility, GO, 0.65%, 10/01/2041 (z) | 4,500 | 4,042 | ||||||
Texas Water Development Board, | ||||||||
Rev., 5.00%, 08/01/2025 | 1,300 | 1,328 | ||||||
Rev., 5.00%, 08/01/2026 | 2,250 | 2,333 | ||||||
Series A, Rev., 5.00%, 10/15/2028 (w) | 115 | 123 | ||||||
Texas Water Development Board, Master Trust, Rev., 4.00%, 10/15/2033 | 1,000 | 999 | ||||||
Texas Water Development Board, Revolving Fund, | ||||||||
Rev., 4.00%, 08/01/2038 | 500 | 476 | ||||||
Rev., 5.00%, 08/01/2024 | 250 | 253 | ||||||
Rev., 5.00%, 08/01/2028 | 625 | 666 | ||||||
Series A, Rev., 5.00%, 10/15/2028 | 100 | 106 | ||||||
Texas Water Development Board, State Revolving Fund, Rev., 5.00%, 08/01/2027 | 2,835 | 2,983 | ||||||
Texas Water Development Board, State Water Implementation Fund, | ||||||||
Series A, Rev., 4.00%, 10/15/2033 | 1,900 | 1,882 | ||||||
Series A, Rev., 5.00%, 04/15/2026 | 100 | 103 | ||||||
Series A, Rev., 5.00%, 10/15/2030 | 500 | 513 | ||||||
Series A, Rev., 5.00%, 10/15/2047 | 2,480 | 2,509 | ||||||
Series B, Rev., 5.00%, 04/15/2049 | 11,535 | 11,781 | ||||||
Texas Water Development Board, State Water Implementation Revenue, Rev., 5.25%, 10/15/2046 | 2,000 | 2,030 | ||||||
Tomball Independent School District, School Building, Series B2, GO, PSF-GTD, 0.26%, 02/15/2039 (z) | 3,055 | 2,948 | ||||||
Travis County Housing Finance Corp., Airport Gateway Apartments, Rev., 4.13%, 06/01/2045 (z) | 190 | 183 | ||||||
Trinity River Authority Central Regional Wastewater System Revenue, Rev., 5.00%, 08/01/2029 | 1,500 | 1,599 | ||||||
University of Houston, Series A, Rev., 5.00%, 02/15/2041 | 2,000 | 2,062 | ||||||
University of Texas, Series C, Rev., 5.00%, 08/15/2028 | 100 | 106 | ||||||
Uptown Development Authority, | ||||||||
Tax Allocation, 4.00%, 09/01/2033 | 400 | 367 | ||||||
Tax Allocation, 4.00%, 09/01/2035 | 995 | 884 | ||||||
Waco Educational Finance Corp., Baylor University Issue, Series A, Rev., 4.00%, 03/01/2036 | 750 | 718 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Texas continued | ||||||||
Waller Consolidated Independent School District, | ||||||||
GO, BAM, 5.00%, 02/15/2040 | 2,800 | 2,903 | ||||||
GO, BAM, 5.00%, 02/15/2042 | 6,550 | 6,737 | ||||||
Waxahachie Independent School District, | ||||||||
GO, PSF-GTD, 4.25%, 02/15/2053 | 1,670 | 1,521 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2028 | 1,250 | 1,317 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2029 | 1,370 | 1,461 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2035 | 1,135 | 1,246 | ||||||
GO, PSF-GTD, 5.00%, 02/15/2040 | 1,310 | 1,381 | ||||||
|
|
|||||||
651,181 | ||||||||
|
|
|||||||
Utah 0.6% | ||||||||
Canyons School District, Series B, GO, SCH BD GTY, 5.00%, 06/15/2027 | 1,000 | 1,051 | ||||||
City of Salt Lake City Airport Revenue, | ||||||||
Series A, Rev., AMT, 5.00%, 07/01/2028 | 1,750 | 1,799 | ||||||
Series A, Rev., AMT, 5.00%, 07/01/2037 | 5,000 | 5,092 | ||||||
Series A, Rev., AMT, 5.25%, 07/01/2040 | 2,400 | 2,505 | ||||||
Series A, Rev., AMT, 5.25%, 07/01/2041 | 1,000 | 1,040 | ||||||
Series A, Rev., AMT, 5.25%, 07/01/2042 | 2,750 | 2,847 | ||||||
Series A, Rev., AMT, 5.25%, 07/01/2048 | 2,750 | 2,821 | ||||||
County of Utah, IHC Health Services, Inc., Series B, Rev., 5.00%, 05/15/2060 (z) | 625 | 640 | ||||||
Downtown East Streetcar Sewer Public Infrastructure District, Senior Lien, Series A, GO, 6.00%, 03/01/2053 (e) | 1,415 | 1,271 | ||||||
Granite School District Board of Education, GO, SCH BD GTY, 5.00%, 06/01/2024 | 150 | 151 | ||||||
Intermountain Power Agency, Series A, Rev., 5.00%, 07/01/2030 | 500 | 540 | ||||||
Provo School District, GO, SCH BD GTY, 5.00%, 06/15/2028 | 2,000 | 2,130 | ||||||
Red Bridge Public Infrastructure District No. 1, Senior Infrastructure District, Series 1A, GO, 3.63%, 02/01/2035 (e) | 600 | 464 | ||||||
State of Utah, | ||||||||
GO, 3.00%, 07/01/2034 | 2,000 | 1,824 | ||||||
GO, 5.00%, 07/01/2024 | 100 | 101 | ||||||
GO, 5.00%, 07/01/2029 | 1,580 | 1,699 | ||||||
GO, 5.00%, 07/01/2030 | 1,000 | 1,072 | ||||||
Series B, GO, 5.00%, 07/01/2029 | 100 | 107 | ||||||
University of Utah (The), Series A, Rev., 5.00%, 08/01/2039 | 1,505 | 1,535 | ||||||
University of Utah, Board of Regents, Series A, Rev., 4.00%, 08/01/2040 | 1,750 | 1,625 | ||||||
Utah Housing Corp., Drawdown New City, Rev., HUD, 3.50%, 08/01/2025 (z) | 900 | 890 | ||||||
Utah Telecommunication Open Infrastructure Agency, | ||||||||
Rev., 5.00%, 06/01/2025 | 115 | 117 | ||||||
Rev., 5.00%, 06/01/2027 | 130 | 135 | ||||||
Rev., 5.00%, 06/01/2031 | 210 | 224 | ||||||
Rev., 5.25%, 06/01/2035 | 700 | 759 | ||||||
Rev., 5.25%, 06/01/2037 | 2,250 | 2,396 | ||||||
Utah Transit Authority, Series A, Rev., 4.00%, 06/15/2036 (p) | 1,500 | 1,505 | ||||||
Vineyard Redevelopment Agency, Tax Allocation, AGM, 5.00%, 05/01/2024 | 190 | 191 | ||||||
|
|
|||||||
36,531 | ||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Vermont 0.0% (g) | ||||||||
Vermont Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC, 4.00%, 11/01/2049 | 280 | 272 | ||||||
Vermont Municipal Bond Bank, Vermont State Colleges System, Series A, Rev., 4.00%, 10/01/2034 | 250 | 252 | ||||||
Vermont Student Assistance Corp., Series A, Rev., AMT, 2.38%, 06/15/2039 | 525 | 470 | ||||||
|
|
|||||||
994 | ||||||||
|
|
|||||||
Virgin Islands 0.0% (g) | ||||||||
Matching Fund Special Purpose Securitization Corp., Series A, Rev., 5.00%, 10/01/2027 | 1,505 | 1,509 | ||||||
|
|
|||||||
Virginia 1.7% | ||||||||
Albemarle County Economic Development Authority, Westminster Canterbury of the Blue Ridge, Rev., 4.00%, 06/01/2035 | 1,365 | 1,275 | ||||||
Chesapeake Bay Bridge & Tunnel District, First Tier General Resolution, | ||||||||
Rev., BAN, 5.00%, 11/01/2023 | 4,000 | 4,002 | ||||||
Rev., 5.00%, 07/01/2051 | 4,000 | 4,017 | ||||||
Commonwealth of Virginia, Series B, GO, 5.00%, 06/01/2027 | 3,000 | 3,108 | ||||||
County of Fairfax, Public Improvement, Series A, GO, 5.00%, 10/01/2031 (p) | 945 | 975 | ||||||
County of Henrico Water & Sewer Revenue, Rev., 5.00%, 05/01/2046 (p) | 1,000 | 1,033 | ||||||
Fairfax County Industrial Development Authority, Inova Health System Project, Rev., 5.00%, 05/15/2029 | 2,000 | 2,122 | ||||||
Fairfax County Redevelopment & Housing Authority, Arrowbrook Apartments Project, Rev., 0.41%, 01/01/2041 (z) | 225 | 222 | ||||||
Fairfax County Redevelopment & Housing Authority, One University Senior Apartments, Rev., 1.25%, 12/01/2025 (z) | 4,680 | 4,491 | ||||||
FHLMC Multifamily VRD Certificates, Series M67, Rev., 2.25%, 12/15/2037 | 955 | 699 | ||||||
Gloucester County Economic Development Authority, Waste Management Services, Rev., AMT, 3.95%, 09/01/2038 (z) | 1,970 | 1,964 | ||||||
Hampton Roads Transportation Accountability Commission, Senior Lien, | ||||||||
Series A, Rev., 5.00%, 07/01/2031 | 1,500 | 1,629 | ||||||
Series A, Rev., 5.00%, 07/01/2038 (p) | 1,000 | 1,060 | ||||||
Series A, Rev., 5.00%, 07/01/2039 | 2,100 | 2,211 | ||||||
Henrico County Economic Development Authority, Westminster Canterbury Richmond, Rev., 5.00%, 10/01/2042 | 100 | 97 | ||||||
Hopewell Redevelopment & Housing Authority, Hopewell Heights Apartment, Rev., HUD, 0.49%, 12/01/2024 (z) | 750 | 744 | ||||||
James City County Economic Development Authority, Williamsburg Landing, Series A, Rev., 4.00%, 12/01/2035 | 150 | 131 | ||||||
Louisa Industrial Development Authority, Virginia Electric And Power Co. Project, Series B, Rev., 0.75%, 11/01/2035 (z) | 2,125 | 1,941 | ||||||
Lynchburg Economic Development Authority, Centra Health Obligation Group, | ||||||||
Rev., 3.00%, 01/01/2051 | 4,750 | 3,017 | ||||||
Rev., 5.00%, 01/01/2029 | 700 | 720 | ||||||
Norfolk Airport Authority, Rev., 5.00%, 07/01/2038 | 1,175 | 1,204 | ||||||
Norfolk Redevelopment & Housing Authority, Braywood Manor Apartments Project, Rev., HUD, 5.00%, 05/01/2043 (z) | 350 | 353 | ||||||
Upper Occoquan Sewage Authority, | ||||||||
Rev., 4.00%, 07/01/2033 (p) | 2,630 | 2,640 | ||||||
Rev., 5.00%, 07/01/2027 (p) | 2,485 | 2,536 | ||||||
Virginia Beach Development Authority, Westminster Canterbury, Rev., 5.00%, 09/01/2044 | 2,215 | 1,894 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Virginia continued | ||||||||
Virginia College Building Authority, 21st Century College & Equipment, | ||||||||
Rev., 5.00%, 02/01/2028 | 1,000 | 1,058 | ||||||
Rev., 5.00%, 02/01/2029 | 1,000 | 1,070 | ||||||
Rev., 5.00%, 02/01/2033 | 3,750 | 4,019 | ||||||
Virginia College Building Authority, Marymount University Project, Series A, Rev., 5.00%, 07/01/2045 (e) | 1,000 | 880 | ||||||
Virginia Commonwealth Transportation Board, Rev., 5.00%, 05/15/2027 | 1,500 | 1,573 | ||||||
Virginia Housing Development Authority, Series G, Rev., 5.05%, 11/01/2047 | 1,750 | 1,709 | ||||||
Virginia Port Authority Commonwealth Port Fund, Rev., AMT, 5.00%, 07/01/2039 (p) | 1,955 | 1,977 | ||||||
Virginia Public Building Authority, Bidding Group 1, Series A, Rev., 5.00%, 08/01/2033 | 1,000 | 1,108 | ||||||
Virginia Resources Authority, Series A, Rev., 5.00%, 11/01/2024 (p) | 105 | 105 | ||||||
Virginia Resources Authority, Virginia Pooled Financing, Rev., 5.00%, 11/01/2028 | 1,510 | 1,615 | ||||||
Virginia Resources Authority, Virginia Pooled Financing Program, Rev., 5.00%, 11/01/2028 | 1,000 | 1,072 | ||||||
Virginia Small Business Financing Authority, Lifespire of Virginia, Rev., 3.00%, 12/01/2023 | 35 | 35 | ||||||
Virginia Small Business Financing Authority, National Senior Campuses, | ||||||||
Series A, Rev., 5.00%, 01/01/2025 | 700 | 704 | ||||||
Series A, Rev., 5.00%, 01/01/2032 | 1,500 | 1,514 | ||||||
Virginia Small Business Financing Authority, Senior Lien 95 Express, | ||||||||
Rev., AMT, 5.00%, 07/01/2032 | 400 | 417 | ||||||
Rev., AMT, 5.00%, 07/01/2033 | 2,320 | 2,420 | ||||||
Rev., AMT, 5.00%, 01/01/2036 | 200 | 205 | ||||||
Rev., AMT, 5.00%, 07/01/2037 | 1,000 | 1,016 | ||||||
Virginia Small Business Financing Authority, Senior Lien, 495 Hot, | ||||||||
Rev., AMT, 5.00%, 06/30/2040 | 3,735 | 3,729 | ||||||
Rev., AMT, 5.00%, 06/30/2041 | 3,470 | 3,457 | ||||||
Rev., AMT, 5.00%, 12/31/2047 | 1,000 | 962 | ||||||
Virginia Small Business Financing Authority, Senior Lien, Elizabeth River, | ||||||||
Rev., AMT, 3.00%, 01/01/2041 | 8,740 | 6,292 | ||||||
Rev., AMT, 4.00%, 01/01/2030 | 3,125 | 2,968 | ||||||
Rev., AMT, 4.00%, 01/01/2033 | 1,500 | 1,396 | ||||||
Rev., AMT, 4.00%, 01/01/2034 | 2,250 | 2,081 | ||||||
Virginia Small Business Financing Authority, Transform 66 P3 Project, | ||||||||
Rev., AMT, 5.00%, 12/31/2047 | 1,800 | 1,724 | ||||||
Rev., AMT, 5.00%, 12/31/2052 | 8,425 | 7,979 | ||||||
Rev., AMT, 5.00%, 12/31/2056 | 3,000 | 2,820 | ||||||
Williamsburg Economic Development Authority, Williamsburg Properties LLC, | ||||||||
Rev., AGM, 4.00%, 07/01/2048 | 1,245 | 1,071 | ||||||
Rev., AGM, 5.25%, 07/01/2053 | 2,600 | 2,705 | ||||||
Wise County Industrial Development Authority, Electric and Power Company Project, Series A, Rev., 0.75%, 10/01/2040 (z) | 4,500 | 4,110 | ||||||
|
|
|||||||
107,876 | ||||||||
|
|
|||||||
Washington 3.0% | ||||||||
Central Puget Sound Regional Transit Authority, Green Bond, Series S1, Rev., 5.00%, 11/01/2035 (p) | 1,085 | 1,111 | ||||||
Chelan County Public Utility District No. 1, Series C, Rev., AMT, 5.00%, 07/01/2026 | 1,285 | 1,317 | ||||||
City of Seattle, Municipal Light & Power Revenue, | ||||||||
Rev., 4.00%, 09/01/2040 | 1,000 | 940 | ||||||
Series B, Rev., (SIFMA Municipal Swap Index + 0.25%), 4.23%, 05/01/2045 (aa) | 2,000 | 1,961 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Washington continued | ||||||||
City of Seattle Municipal Light & Power Revenue, Green Bond, Series A, Rev., 4.00%, 07/01/2040 | 1,300 | 1,220 | ||||||
City of Seattle, Drainage & Wastewater Revenue, Rev., 4.00%, 05/01/2044 | 945 | 858 | ||||||
City of Tacoma, Electric System Revenue, Series A, Rev., 4.00%, 01/01/2042 | 5,460 | 4,919 | ||||||
Clark County Public Utility District No. 1, Rev., 4.00%, 01/01/2034 | 665 | 667 | ||||||
County of Grant, GO, 5.25%, 12/01/2047 | 1,000 | 1,042 | ||||||
County of King, Series A, GO, 5.00%, 12/01/2034 | 1,335 | 1,453 | ||||||
County of King, Sewer Revenue, Rev., AGM, 5.00%, 01/01/2047 | 5,000 | 4,985 | ||||||
Energy Northwest Washington, Project 3 Electric Revenue, Series C, Rev., 5.00%, 07/01/2027 | 100 | 105 | ||||||
Energy Northwest, Columbia Generating Station, Rev., 4.00%, 07/01/2042 | 1,625 | 1,508 | ||||||
Grant County Public Utility District No. 2 Priest Rapids Hydroelectric Project, | ||||||||
Rev., 5.00%, 01/01/2040 | 1,250 | 1,313 | ||||||
Series A, Rev., 5.00%, 01/01/2043 (p) | 1,555 | 1,597 | ||||||
Grant County, Public Utility District No. 2, Electric Revenue, | ||||||||
Series 2017-O, Rev., 5.00%, 01/01/2047 | 4,950 | 5,001 | ||||||
Series R, Rev., 2.00%, 01/01/2044 (z) | 1,500 | 1,433 | ||||||
HopeSource III Portfolio Projects, Rev., 1.25%, 01/01/2025 (z) | 2,765 | 2,738 | ||||||
King & Snohomish Counties School District No. 417 Northshore, GO, SCH BD GTY, 4.00%, 12/01/2032 | 1,000 | 986 | ||||||
King County Housing Authority, Rev., 5.00%, 11/01/2029 | 1,325 | 1,374 | ||||||
King County Public Hospital District No. 4, GO, 5.00%, 12/01/2038 | 1,000 | 925 | ||||||
King County School District No. 401 Highline, GO, SCH BD GTY, 5.00%, 12/01/2041 | 5,030 | 5,262 | ||||||
Pierce County School District No. 10 Tacoma, Social Bonds, Series B, GO, SCH BD GTY, 4.00%, 12/01/2042 | 10,000 | 9,101 | ||||||
Port of Seattle, Series A, Rev., AMT, 5.00%, 05/01/2036 | 2,000 | 2,030 | ||||||
Port of Seattle Industrial Development Corp., Special Facilities Delta Airline, Rev., AMT, 5.00%, 04/01/2030 | 2,000 | 2,000 | ||||||
Port of Seattle, Intermediate Lien, | ||||||||
Rev., AMT, 5.00%, 08/01/2026 | 1,000 | 1,016 | ||||||
Rev., 5.00%, 02/01/2028 | 900 | 922 | ||||||
Rev., AMT, 5.00%, 04/01/2028 | 2,250 | 2,309 | ||||||
Rev., AMT, 5.00%, 08/01/2028 | 1,000 | 1,029 | ||||||
Rev., AMT, 5.00%, 04/01/2030 | 4,000 | 4,129 | ||||||
Rev., AMT, 5.00%, 04/01/2032 | 2,110 | 2,178 | ||||||
Rev., AMT, 5.00%, 04/01/2044 | 2,000 | 1,987 | ||||||
Rev., AMT, 5.00%, 08/01/2046 | 3,500 | 3,470 | ||||||
Rev., AMT, 5.00%, 08/01/2047 | 1,250 | 1,226 | ||||||
Rev., AMT, 5.50%, 08/01/2047 | 1,000 | 1,029 | ||||||
Series C, Rev., AMT, 5.00%, 08/01/2034 | 5,000 | 5,207 | ||||||
Seattle Housing Authority, Lam Bow Apartments Project, Rev., 1.25%, 06/01/2024 | 120 | 118 | ||||||
Seattle Housing Authority, Northgate Plaza Project, Rev., 1.00%, 06/01/2026 | 2,045 | 1,849 | ||||||
Skagit County Public Hospital District No. 1, Improvement Skagit Regional Health, Rev., 5.00%, 12/01/2031 | 2,145 | 2,117 | ||||||
Snohomish County School District No. 201 Snohomish, GO, SCH BD GTY, 5.00%, 12/01/2028 | 1,500 | 1,603 | ||||||
Spokane County School District No. 81 Spokane, Series C, GO, SCH BD GTY, 5.00%, 12/01/2034 | 2,000 | 2,092 | ||||||
State of Washington, | ||||||||
Series 2020A, GO, 5.00%, 08/01/2038 | 1,500 | 1,564 | ||||||
Series 2021A, GO, 5.00%, 06/01/2034 | 1,000 | 1,075 | ||||||
Series A1, GO, 5.00%, 08/01/2040 | 13,645 | 13,752 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Washington continued | ||||||||
Series A3, GO, 5.00%, 08/01/2044 | 1,000 | 1,043 | ||||||
Series A, GO, 5.00%, 08/01/2036 | 1,475 | 1,568 | ||||||
Series A, GO, 5.00%, 08/01/2040 | 3,890 | 4,053 | ||||||
Series B, GO, 5.00%, 07/01/2025 | 75 | 77 | ||||||
Series B, GO, 5.00%, 07/01/2027 | 1,000 | 1,027 | ||||||
Series B, GO, 5.00%, 06/01/2035 | 4,760 | 5,096 | ||||||
Series D, GO, 4.00%, 07/01/2033 | 2,000 | 2,030 | ||||||
Series R, GO, 5.00%, 02/01/2031 | 1,000 | 1,090 | ||||||
Series R, GO, 5.00%, 08/01/2031 | 750 | 822 | ||||||
Series RC, GO, 5.00%, 08/01/2029 | 100 | 105 | ||||||
Series R-2017A, GO, 5.00%, 08/01/2027 | 1,000 | 1,034 | ||||||
Series R-2017A, GO, 5.00%, 08/01/2034 | 1,840 | 1,900 | ||||||
Series R-2022B, GO, 4.00%, 02/01/2035 | 500 | 501 | ||||||
Series R-2022D, GO, 4.00%, 07/01/2028 | 3,140 | 3,210 | ||||||
State of Washington, Bid Group, Series C, GO, 5.00%, 02/01/2024 | 1,000 | 1,004 | ||||||
State of Washington, Bid Group 1, Series C, GO, 5.00%, 02/01/2028 | 1,490 | 1,578 | ||||||
State of Washington, MVFT/VRF GO Bonds, | ||||||||
Series F, GO, 5.00%, 06/01/2034 | 4,080 | 4,428 | ||||||
Series F, GO, 5.00%, 06/01/2038 | 2,775 | 2,924 | ||||||
State of Washington, Various Purpose, | ||||||||
Series 2015A1, GO, 5.00%, 08/01/2036 | 11,200 | 11,263 | ||||||
Series A, GO, 5.00%, 08/01/2041 | 10,000 | 10,308 | ||||||
Thurston County School District No. 111 Olympia, GO, SCH BD GTY, 5.00%, 12/01/2026 | 1,275 | 1,327 | ||||||
University of Washington, Series C, Rev., 5.00%, 04/01/2026 | 1,500 | 1,542 | ||||||
Washington Health Care Facilities Authority, Multicare Health System, Series B, Rev., 5.00%, 08/15/2037 | 1,200 | 1,178 | ||||||
Washington Health Care Facilities Authority, Seattle Cancer Care Alliance, | ||||||||
Rev., 4.00%, 12/01/2040 (e) | 860 | 756 | ||||||
Rev., 5.00%, 09/01/2045 | 1,000 | 997 | ||||||
Washington Health Care Facilities Authority, Unrefunded Providence Health, Rev., 5.00%, 10/01/2041 | 8,000 | 7,730 | ||||||
Washington Health Care Facilities Authority, Unrefunded Providence Health & Services, Rev., 5.00%, 10/01/2044 | 4,365 | 4,109 | ||||||
Washington Health Care Facilities Authority, Virginia Mason Medical Center, Rev., 5.00%, 08/15/2036 | 5,500 | 5,336 | ||||||
Washington State Housing Finance Commission, | ||||||||
Rev., 3.38%, 04/20/2037 | 1,425 | 1,146 | ||||||
Series A1, Rev., 3.50%, 12/20/2035 | 1,898 | 1,640 | ||||||
Series 2N, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 12/01/2050 | 685 | 649 | ||||||
Washington State Housing Finance Commission, Downtowner Apartments Project, Rev., LIQ: FHLMC, 3.70%, 07/01/2030 | 2,000 | 1,916 | ||||||
Washington State Housing Finance Commission, Social Bond, Series 2N, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2051 | 940 | 878 | ||||||
|
|
|||||||
188,783 | ||||||||
|
|
|||||||
West Virginia 0.1% | ||||||||
Monongalia County Commission Excise Tax District, Series A, Rev., 4.13%, 06/01/2043 (e) | 470 | 397 | ||||||
Monongalia County Commission Special District, Refunding and Improvement, University Town Center, Series A, Rev., 5.50%, 06/01/2037 (e) | 1,050 | 1,060 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
West Virginia continued | ||||||||
Monongalia County Commission Special District, University Town Center, Series A, Rev., 5.75%, 06/01/2043 (e) | 500 | 505 | ||||||
West Virginia Economic Development Authority, Appalachian Power Company Amos Project, Rev., AMT, 1.00%, 01/01/2041 (z) | 2,765 | 2,553 | ||||||
West Virginia Parkways Authority, Senior Lien, Rev., 5.00%, 06/01/2038 | 1,000 | 1,055 | ||||||
|
|
|||||||
5,570 | ||||||||
|
|
|||||||
Wisconsin 2.9% | ||||||||
City of Milwaukee, Promissory Notes, | ||||||||
Series N3, GO, AGM, 5.00%, 04/01/2031 | 5,500 | 5,770 | ||||||
Series N4, GO, 5.00%, 04/01/2030 | 10,150 | 10,628 | ||||||
City of Milwaukee, Sewerage System Revenue, Series S7, Rev., 5.00%, 06/01/2026 | 2,665 | 2,739 | ||||||
Milwaukee Metropolitan Sewerage District, Green Bond, Series A, GO, 3.00%, 10/01/2031 | 1,700 | 1,541 | ||||||
Milwaukee Metropolitan Sewerage District, Green Bond Climate Bond Certificate, GO, 4.00%, 10/01/2043 | 6,150 | 5,559 | ||||||
Public Finance Authority, Carmelite System, Social Bonds, Rev., 5.00%, 01/01/2045 | 1,105 | 995 | ||||||
Public Finance Authority, Celanese Project, Series C, Rev., AMT, 4.30%, 11/01/2030 | 3,000 | 2,893 | ||||||
Public Finance Authority, CFP3 Eastern Michigan University, | ||||||||
Rev., BAM, 5.00%, 07/01/2029 | 500 | 526 | ||||||
Rev., BAM, 5.25%, 07/01/2034 | 260 | 283 | ||||||
Rev., BAM, 5.25%, 07/01/2042 | 5,625 | 5,847 | ||||||
Rev., BAM, 5.38%, 07/01/2047 | 8,025 | 8,326 | ||||||
Rev., BAM, 5.50%, 07/01/2052 | 6,005 | 6,273 | ||||||
Public Finance Authority, CHF Wilmington LLC University, Rev., AGM, 5.00%, 07/01/2053 | 3,970 | 3,877 | ||||||
Public Finance Authority, Duke Energy Progress, Rev., 3.70%, 10/01/2046 (z) | 1,500 | 1,445 | ||||||
Public Finance Authority, Ku Campus Development Corp. Project, Rev., 5.00%, 03/01/2041 | 3,000 | 2,985 | ||||||
Public Finance Authority, KU Campus Development Corp. Project, Rev., 5.00%, 03/01/2046 | 6,495 | 6,316 | ||||||
Public Finance Authority, Lenoir Rhyne University, | ||||||||
Rev., 5.00%, 04/01/2036 | 1,625 | 1,548 | ||||||
Rev., 5.00%, 04/01/2037 | 1,705 | 1,599 | ||||||
Public Finance Authority, Point College Prep Project, | ||||||||
Rev., 4.00%, 06/15/2030 (e) | 200 | 182 | ||||||
Rev., 5.00%, 06/15/2041 (e) | 250 | 213 | ||||||
Public Finance Authority, Renown Regional Medical Center Project, | ||||||||
Rev., 5.00%, 06/01/2026 | 500 | 505 | ||||||
Rev., 5.00%, 06/01/2027 | 425 | 432 | ||||||
Rev., 5.00%, 06/01/2028 | 600 | 613 | ||||||
Rev., 5.00%, 06/01/2034 | 1,000 | 1,024 | ||||||
Public Finance Authority, Senior Lien, Grand Hyatt San Antonio Hotel Acquisition Project, Rev., 5.00%, 02/01/2042 | 4,000 | 3,738 | ||||||
Public Finance Authority, Sky Harbour Capital LLC, Rev., AMT, 4.00%, 07/01/2036 | 815 | 646 | ||||||
Public Finance Authority, United Methodist Retirement, Rev., 4.00%, 10/01/2026 | 60 | 58 | ||||||
Public Finance Authority, Waste Management, Inc. Project, | ||||||||
Rev., AMT, 1.10%, 07/01/2029 (z) | 1,445 | 1,316 | ||||||
Rev., AMT, 2.63%, 11/01/2025 | 5,000 | 4,777 | ||||||
State of Wisconsin, | ||||||||
Series 1, GO, 5.00%, 05/01/2027 | 2,400 | 2,512 | ||||||
Series 2, GO, 5.00%, 05/01/2034 | 1,000 | 1,114 | ||||||
Series 3, GO, 5.00%, 11/01/2027 | 1,000 | 1,047 | ||||||
Series 20212, GO, 5.00%, 05/01/2026 | 5,850 | 6,041 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Wisconsin continued | ||||||||
Series B, GO, 4.00%, 05/01/2039 | 500 | 478 | ||||||
Series B, GO, 5.00%, 05/01/2035 | 10,580 | 11,256 | ||||||
University of Wisconsin Hospitals & Clinics, Green Bond University of Wisconsin Hospital, Rev., 4.00%, 04/01/2035 | 440 | 421 | ||||||
University of Wisconsin Hospitals & Clinics, Green Bonds, Rev., 4.00%, 04/01/2046 | 4,120 | 3,541 | ||||||
Wisconsin Center District, Capital Appreciation Senior Dedicated, | ||||||||
Series C, Rev., AGM, Zero Coupon, 12/15/2036 | 1,550 | 827 | ||||||
Series C, Rev., AGM, Zero Coupon, 12/15/2039 | 1,750 | 783 | ||||||
Series C, Rev., AGM, Zero Coupon, 12/15/2040 | 1,650 | 696 | ||||||
Series D, Rev., AGM, Zero Coupon, 12/15/2028 | 545 | 437 | ||||||
Wisconsin Center District, Junior Dedicated, Series D, Rev., AGM, Zero Coupon, 12/15/2045 | 8,500 | 2,721 | ||||||
Wisconsin Department of Transportation, Series A, Rev., 5.00%, 07/01/2027 | 1,675 | 1,763 | ||||||
Wisconsin Health & Educational Facilities Authority, | ||||||||
Rev., 5.00%, 10/01/2029 | 5,940 | 6,337 | ||||||
Rev., 5.00%, 10/01/2030 | 6,355 | 6,825 | ||||||
Wisconsin Health & Educational Facilities Authority Revenue, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2027 | 500 | 522 | ||||||
Wisconsin Health & Educational Facilities Authority Revenue, Marshfield Clinic Health System, Series B1, Rev., 5.00%, 02/15/2052 (z) | 2,000 | 2,005 | ||||||
Wisconsin Health & Educational Facilities Authority, Advocate Aurora Healthcare, Rev., 5.00%, 08/15/2054 (z) | 2,590 | 2,643 | ||||||
Wisconsin Health & Educational Facilities Authority, Ascension Health Alliance Senor, Rev., 4.00%, 11/15/2043 | 2,045 | 1,770 | ||||||
Wisconsin Health & Educational Facilities Authority, Ascension Health Credit Group, | ||||||||
Rev., 4.00%, 11/15/2039 | 10,500 | 9,611 | ||||||
Rev., 5.00%, 11/15/2035 | 4,500 | 4,575 | ||||||
Wisconsin Health & Educational Facilities Authority, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2036 | 1,500 | 1,521 | ||||||
Wisconsin Health & Educational Facilities Authority, Aspirus, Inc. Obligated Group, Rev., 5.00%, 08/15/2038 | 1,000 | 1,004 | ||||||
Wisconsin Health & Educational Facilities Authority, Bellin Memorial Hospital, Inc., | ||||||||
Rev., 5.00%, 12/01/2045 | 2,500 | 2,409 | ||||||
Series B, Rev., 5.25%, 12/01/2048 | 3,000 | 2,993 | ||||||
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Inc., | ||||||||
Series A, Rev., 5.00%, 04/01/2030 | 1,280 | 1,357 | ||||||
Series A, Rev., 5.00%, 04/01/2033 | 1,010 | 1,062 | ||||||
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Inc. Obligated, | ||||||||
Rev., 4.00%, 04/01/2039 | 5,000 | 4,472 | ||||||
Rev., 5.00%, 04/01/2035 | 1,325 | 1,357 | ||||||
Wisconsin Health & Educational Facilities Authority, Gundersen Health System, | ||||||||
Rev., 4.00%, 10/15/2035 | 545 | 521 | ||||||
Rev., 4.00%, 10/15/2036 | 2,100 | 1,979 | ||||||
Wisconsin Health & Educational Facilities Authority, Marshfield Clinic Health System, | ||||||||
Rev., 5.00%, 02/15/2051 (z) | 2,600 | 2,606 | ||||||
Series B, Rev., 5.00%, 02/15/2042 | 1,000 | 937 | ||||||
Series B, Rev., 5.00%, 02/15/2046 | 4,550 | 4,194 | ||||||
Wisconsin Health & Educational Facilities Authority, ProHealth Care Obligation Group, Rev., 5.00%, 08/15/2039 | 1,000 | 981 | ||||||
Wisconsin Health & Educational Facilities Authority, The Medical College of Wisconsin, Rev., 4.00%, 12/01/2046 | 3,000 | 2,604 |
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds continued | ||||||||
Wisconsin continued | ||||||||
Wisconsin Housing & Economic Development Authority, | ||||||||
Series B, Rev., HUD, 0.40%, 05/01/2045 (z) | 130 | 130 | ||||||
Series B, Rev., HUD, 0.50%, 11/01/2050 (z) | 245 | 232 | ||||||
Series D, Rev., 4.00%, 03/01/2047 | 90 | 88 | ||||||
Wisconsin Housing & Economic Development Authority, Social Bond, Series A, Rev., 3.00%, 03/01/2052 | 810 | 759 | ||||||
Wisconsin Housing & Economic Development Authority, Social Bonds, Series C, Rev., GNMA/FHLMC/FNMA COLL, 3.00%, 09/01/2052 | 1,245 | 1,166 | ||||||
|
|
|||||||
182,951 | ||||||||
|
|
|||||||
Wyoming 0.1% | ||||||||
Consolidated Municipalities Electric Power Systems Joint Powers Board, Rev., 5.25%, 06/01/2039 | 1,000 | 1,041 | ||||||
County of Laramie, Cheyenne Regional Medical Center, Rev., 4.00%, 05/01/2026 | 615 | 614 | ||||||
County of Sweetwater, Idaho Power Company Project, Rev., 1.70%, 07/15/2026 | 1,045 | 948 | ||||||
Wyoming Community Development Authority, | ||||||||
Series 2, Rev., 3.00%, 06/01/2049 | 1,115 | 1,056 | ||||||
Series 2, Rev., VRDO, LIQ: Royal Bank of Canada, 3.95%, 10/06/2023 (z) | 3,000 | 3,000 | ||||||
Series 3, Rev., GNMA/FHLMC/FNMA COLL, 3.00%, 06/01/2050 | 1,415 | 1,351 | ||||||
|
|
|||||||
8,010 | ||||||||
|
|
|||||||
Total Municipal Bonds (Cost $6,678,850) |
6,143,296 | |||||||
|
|
|||||||
Short-Term Investments 1.4% | ||||||||
Municipal Bonds 0.0% (g) (t) | ||||||||
City of Racine, Rev., NAN, 4.75%, 04/01/2024 | 1,250 | 1,253 | ||||||
Miami-Dade County Housing Finance Authority, Council Towers Seniors Apartment, Rev., HUD, 5.00%, 02/01/2024 | 950 | 950 | ||||||
|
|
|||||||
Total Municipal Bonds | 2,203 | |||||||
|
|
|||||||
Time Deposits 1.4% | ||||||||
Citibank NA, 4.68%, 10/02/2023 | 35,971 | 35,971 | ||||||
Royal Bank of Canada, 4.68%, 10/02/2023 | 48,623 | 48,623 | ||||||
Skandinaviska Enskilda Banken AB, 4.68%, 10/02/2023 | 4,981 | 4,981 | ||||||
|
|
|||||||
Total Time Deposits | 89,575 | |||||||
|
|
|||||||
Total Short-Term Investments (Cost $91,781) |
91,778 | |||||||
|
|
|||||||
Total Investments 99.2% (Cost - $6,771,497)* |
6,235,519 | |||||||
Other Assets in Excess of Liabilities 0.8% |
47,307 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 6,282,826 | ||||||
|
|
Percentages indicated are based on net assets.
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Futures contracts outstanding as of September 30, 2023:
Exchange Traded
DESCRIPTION |
NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
U.S. Treasury 2 Year Note |
75 | 12/2023 | USD | 15,239 | (36 | ) | ||||||||||||||
U.S. Treasury 5 Year Note |
388 | 12/2023 | USD | 41,231 | (351 | ) | ||||||||||||||
|
|
|||||||||||||||||||
(387 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
||||||||||||||||||||
U.S. Ultra Treasury 10 Year Note |
(165) | 12/2023 | USD | (18,963 | ) | 555 | ||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation (depreciation) |
168 | |||||||||||||||||||
|
|
Six Circles Tax Aware Bond Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023
AGC | | Insured by Assured Guaranty Corp. | ||
AGM | | Insured by Assured Guaranty Municipal Corp. | ||
AMBAC | | Insured by American Municipal Bond Assurance Corp. | ||
AMT | | Alternative Minimum Tax | ||
BAM | | Insured by Build America Mutual | ||
BAN | | Bond Anticipation Note | ||
CNTY | | County | ||
COLL | | Collateral | ||
COP | | Certificate of Participation | ||
CR | | Custodial Receipts | ||
FHA | | Federal Housing Administration | ||
FHLMC | | Federal Home Loan Mortgage Corp. | ||
FNMA | | Federal National Mortgage Association | ||
GAN | | Grant Anticipation Note | ||
GNMA | | Government National Mortgage Association | ||
GO | | General Obligation | ||
GTD | | Guaranteed | ||
HUD | | U.S. Department of Housing and Urban Development | ||
ICE | | Intercontinental Exchange | ||
LIBOR | | London Interbank Offered Rate | ||
LIQ | | Liquidity Agreement | ||
NAN | | Note Anticipation Notes | ||
NATL | | Insured by National Public Finance Guarantee Corp. | ||
PSF | | Permanent School Fund | ||
Q-SBLF | | Qualified School Bond Loan Fund | ||
Rev. | | Revenue | ||
SCH BD GTY | | School Bond Guaranty | ||
SIFMA | | Securities Industry and Financial Markets Association | ||
SOFR | | Secured Overnight Financing Rate | ||
SONYMA | | State of New York Mortgage Agency | ||
VRDO | | Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of September 30, 2023. | ||
(d) | | Defaulted Security. Security has not paid its last interest payment and/or interest is not being accrued. | ||
(e) | | Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | ||
(g) | | Amount rounds to less than 0.05%. | ||
(p) | | Security is prerefunded or escrowed to maturity. | ||
(t) | | The date shown represents the earliest of the next put date or final maturity date. | ||
(w) | | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | ||
(z) | | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of September 30, 2023. | ||
(aa) | | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of September 30, 2023. | ||
* | | The cost of securities is substantially the same for federal income tax purposes. | ||
USD | | United States Dollar |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities 3.5% | ||||||||
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027 | 1,350 | 1,303 | ||||||
Americredit Automobile Receivables Trust, | ||||||||
Series 2023-1, Class A2A, 5.84%, 10/19/2026 | 338 | 338 | ||||||
Series 2023-1, Class A3, 5.62%, 11/18/2027 | 225 | 224 | ||||||
Series 2023-1, Class B, 5.57%, 03/20/2028 | 100 | 99 | ||||||
Series 2023-1, Class C, 5.80%, 12/18/2028 | 100 | 99 | ||||||
AmeriCredit Automobile Receivables Trust, Series 2022-2, Class C, 5.32%, 04/18/2028 | 100 | 98 | ||||||
AMMC CLO 23 Ltd., (Cayman Islands), Series 2020-23A, Class A1R, (CME Term SOFR 3 Month + 1.30%), 6.61%, 10/17/2031 (e) (aa) | 1,740 | 1,734 | ||||||
ARES L CLO Ltd., (Cayman Islands), Series 2018-50A, Class AR, (CME Term SOFR 3 Month + 1.31%), 6.62%, 01/15/2032 (e) (aa) | 300 | 299 | ||||||
Avis Budget Rental Car Funding AESOP LLC, Series 2020-2A, Class A, 2.02%, 02/20/2027 (e) | 1,150 | 1,050 | ||||||
BA Credit Card Trust, Series 2022-A2, Class A2, 5.00%, 04/15/2028 | 340 | 337 | ||||||
BlueMountain CLO Ltd., (Cayman Islands), Series 2016-2A, Class A1R2, (CME Term SOFR 3 Month + 1.38%), 6.76%, 08/20/2032 (e) (aa) | 14,500 | 14,369 | ||||||
BMW Vehicle Lease Trust, | ||||||||
Series 2023-1, Class A2, 5.27%, 02/25/2025 | 315 | 314 | ||||||
Series 2023-1, Class A3, 5.16%, 11/25/2025 | 775 | 769 | ||||||
BSPRT Issuer Ltd., (Cayman Islands), Series 2021-FL7, Class A, (CME Term SOFR 1 Month + 1.43%), 6.77%, 12/15/2038 (e) (aa) | 520 | 511 | ||||||
Capital One Multi-Asset Execution Trust, | ||||||||
Series 2022-A1, Class A1, 2.80%, 03/15/2027 | 380 | 365 | ||||||
Series 2022-A2, Class A, 3.49%, 05/15/2027 | 430 | 415 | ||||||
Carlyle Global Market Strategies CLO Ltd., (Cayman Islands), Series 2015-5A, Class A1RR, (CME Term SOFR 3 Month + 1.34%), 6.67%, 01/20/2032 (e) (aa) | 3,737 | 3,713 | ||||||
CarMax Auto Owner Trust, Series 2023-1, Class A3, 4.75%, 10/15/2027 | 200 | 197 | ||||||
Carvana Auto Receivables Trust, | ||||||||
Series 2021-N1, Class A, 0.70%, 01/10/2028 | 141 | 134 | ||||||
Series 2022-P1, Class A3, 3.35%, 02/10/2027 | 565 | 549 | ||||||
Cedar Funding IX CLO Ltd., (Cayman Islands), Series 2018-9A, Class A1, (CME Term SOFR 3 Month + 1.24%), 6.57%, 04/20/2031 (e) (aa) | 260 | 259 | ||||||
CIFC Funding Ltd., (Cayman Islands), Series 2013-2A, Class A1L2, (CME Term SOFR 3 Month + 1.26%), 6.57%, 10/18/2030 (e) (aa) | 382 | 381 | ||||||
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class A, 1.00%, 05/15/2030 (e) | 448 | 438 | ||||||
Discover Card Execution Note Trust, Series 2022-A3, Class A3, 3.56%, 07/15/2027 | 745 | 719 | ||||||
Dryden 113 CLO Ltd., (Jersey), Series 2022-113A, Class A1R, (CME Term SOFR 3 Month + 1.63%), 0.00%, 10/20/2035 (e) (aa) | 500 | 500 | ||||||
Elmwood CLO 18 Ltd., (Cayman Islands), Series 2022-5A, Class AR, (CME Term SOFR 3 Month + 1.65%), 6.96%, 07/17/2033 (e) (aa) | 250 | 249 | ||||||
Elmwood CLO VII Ltd., (Cayman Islands), Series 2020-4A, Class AR, (CME Term SOFR 3 Month + 1.63%), 0.00%, 01/17/2034 (e) (aa) | 250 | 250 | ||||||
Exeter Automobile Receivables Trust, Series 2021-2A, Class C, 0.98%, 06/15/2026 | 251 | 247 | ||||||
First Investors Auto Owner Trust, Series 2022-2A, Class A, 6.26%, 07/15/2027 (e) | 208 | 209 | ||||||
Flagship Credit Auto Trust, Series 2023-1, Class A3, 5.01%, 08/16/2027 (e) | 350 | 345 | ||||||
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19%, 07/15/2031 (e) | 850 | 820 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued | ||||||||
Generate CLO Ltd., (Cayman Islands), Series 2A, Class AR, (CME Term SOFR 3 Month + 1.41%), 6.76%, 01/22/2031 (e) (aa) | 2,131 | 2,127 | ||||||
GM Financial Automobile Leasing Trust, | ||||||||
Series 2022-2, Class A3, 3.42%, 06/20/2025 | 980 | 968 | ||||||
Series 2022-3, Class A2A, 4.01%, 10/21/2024 | 117 | 117 | ||||||
Series 2022-3, Class A3, 4.01%, 09/22/2025 | 521 | 515 | ||||||
Series 2023-1, Class A3, 5.16%, 04/20/2026 | 780 | 773 | ||||||
GREYWOLF CLO VI Ltd., (Cayman Islands), Series 2018-1A, Class A1, (CME Term SOFR 3 Month + 1.29%), 6.64%, 04/26/2031 (e) (aa) | 2,460 | 2,445 | ||||||
Guggenheim CLO STAT Ltd., (Cayman Islands), Series 2022-1A, Class A1A, (CME Term SOFR 3 Month + 2.59%), 7.94%, 10/25/2031 (e) (aa) | 7,287 | 7,316 | ||||||
Honda Auto Receivables Owner Trust, Series 2023-1, Class A2, 5.22%, 10/21/2025 | 775 | 772 | ||||||
Hyundai Auto Lease Securitization Trust, Series 2022-C, Class A2A, 4.34%, 01/15/2025 (e) | 715 | 712 | ||||||
Jamestown CLO VI-R Ltd., (Cayman Islands), Series 2018-6RA, Class A1, (CME Term SOFR 3 Month + 1.41%), 6.76%, 04/25/2030 (e) (aa) | 836 | 834 | ||||||
KKR Static CLO Ltd., (Cayman Islands), Series 2022-2A, Class A1, (CME Term SOFR 3 Month + 2.22%), 7.55%, 10/20/2031 (e) (aa) | 10,618 | 10,638 | ||||||
Lendmark Funding Trust, Series 2021-2A, Class A, 2.00%, 04/20/2032 (e) | 915 | 782 | ||||||
Madison Park Funding XVII Ltd., (Cayman Islands), Series 2015-17A, Class AR2, (CME Term SOFR 3 Month + 1.26%), 6.60%, 07/21/2030 (e) (aa) | 241 | 241 | ||||||
Madison Park Funding XVIII Ltd., (Cayman Islands), Series 2015-18A, Class ARR, (CME Term SOFR 3 Month + 1.20%), 6.54%, 10/21/2030 (e) (aa) | 8,862 | 8,819 | ||||||
Magnetite VII Ltd., (Cayman Islands), Series 2012-7A, Class A1R2, (CME Term SOFR 3 Month + 1.06%), 6.37%, 01/15/2028 (e) (aa) | 159 | 159 | ||||||
Mariner Finance Issuance Trust, | ||||||||
Series 2021-BA, Class A, 2.10%, 11/20/2036 (e) | 895 | 781 | ||||||
Series 2022-AA, Class A, 6.45%, 10/20/2037 (e) | 440 | 441 | ||||||
Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36%, 04/20/2062 (e) | 517 | 461 | ||||||
New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.91%, 10/20/2061 (e) | 360 | 310 | ||||||
NextGear Floorplan Master Owner Trust, Series 2023-1A, Class A2, 5.74%, 03/15/2028 (e) | 310 | 310 | ||||||
OneMain Financial Issuance Trust, | ||||||||
Series 2019-2A, Class A, 3.14%, 10/14/2036 (e) | 535 | 484 | ||||||
Series 2021-1A, Class A1, 1.55%, 06/16/2036 (e) | 190 | 165 | ||||||
Series 2022-3A, Class A, 5.94%, 05/15/2034 (e) | 650 | 646 | ||||||
Pagaya AI Debt Trust, Series 2022-1, Class A, 2.03%, 10/15/2029 (e) | 332 | 325 | ||||||
Palmer Square Loan Funding Ltd., (Cayman Islands), Series 2022-3A, Class A1A, (CME Term SOFR 3 Month + 1.82%), 7.13%, 04/15/2031 (e) (aa) | 8,935 | 8,927 | ||||||
PenFed Auto Receivables Owner Trust, Series 2022-A, Class A3, 3.96%, 04/15/2026 (e) | 795 | 784 | ||||||
Race Point VIII CLO Ltd., (Cayman Islands), Series 2013-8A, Class AR2, (CME Term SOFR 3 Month + 1.30%), 6.68%, 02/20/2030 (e) (aa) | 3,880 | 3,875 | ||||||
Rad CLO 1 Ltd., (Cayman Islands), Series 2018-1A, Class AR, (CME Term SOFR 3 Month + 1.24%), 6.55%, 07/15/2031 (e) (aa) | 340 | 339 | ||||||
Rad CLO 2 Ltd., (Cayman Islands), Series 2018-2A, Class AR, (CME Term SOFR 3 Month + 1.34%), 6.65%, 10/15/2031 (e) (aa) | 250 | 249 | ||||||
Rad CLO 6 Ltd., (Cayman Islands), Series 2019-6A, Class A1, (CME Term SOFR 3 Month + 1.64%), 6.97%, 01/20/2033 (e) (aa) | 440 | 439 | ||||||
Rad CLO 7 Ltd., (Cayman Islands), Series 2020-7A, Class A1, (CME Term SOFR 3 Month + 1.46%), 6.77%, 04/17/2033 (e) (aa) | 250 | 247 | ||||||
Santander Consumer Auto Receivables Trust, Series 2020-BA, Class C, 1.29%, 04/15/2026 (e) | 1,066 | 1,051 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities continued | ||||||||
Santander Drive Auto Receivables Trust, | ||||||||
Series 2022-6, Class A2, 4.37%, 05/15/2025 | 31 | 31 | ||||||
Series 2022-7, Class C, 6.69%, 03/17/2031 | 375 | 378 | ||||||
Series 2023-3, Class A2, 6.08%, 08/17/2026 | 310 | 310 | ||||||
Series 2023-3, Class A3, 5.61%, 10/15/2027 | 700 | 696 | ||||||
SCF Equipment Leasing LLC, | ||||||||
Series 2019-2A, Class A2, 2.47%, 04/20/2026 (e) | 47 | 47 | ||||||
Series 2021-1A, Class A3, 0.83%, 08/21/2028 (e) | 206 | 202 | ||||||
Series 2021-1A, Class B, 1.37%, 08/20/2029 (e) | 1,000 | 932 | ||||||
Summer BidCo. BV, (Netherlands), Reg. S, 9.00% (cash), 11/15/2025 (v) | EUR | 268 | 272 | |||||
TCW CLO Ltd., (Cayman Islands), Series 2022-1A, Class A1, (CME Term SOFR 3 Month + 1.34%), 6.69%, 04/22/2033 (e) (aa) | 500 | 495 | ||||||
Tesla Auto Lease Trust, | ||||||||
Series 2023-A, Class A2, 5.86%, 08/20/2025 (e) | 295 | 295 | ||||||
Series 2023-A, Class A3, 5.89%, 06/22/2026 (e) | 255 | 254 | ||||||
TICP CLO IX Ltd., (Cayman Islands), Series 2017-9A, Class A, (CME Term SOFR 3 Month + 1.40%), 6.73%, 01/20/2031 (e) (aa) | 904 | 902 | ||||||
Upstart Securitization Trust, Series 2021-5, Class A, 1.31%, 11/20/2031 (e) | 287 | 283 | ||||||
Verizon Master Trust, Series 2022-7, Class A1A, 5.23%, 11/22/2027 | 265 | 263 | ||||||
Voya CLO Ltd., (Cayman Islands), | ||||||||
Series 2014-2A, Class A1RR, (CME Term SOFR 3 Month + 1.28%), 6.59%, 04/17/2030 (e) (aa) | 3,786 | 3,781 | ||||||
Series 2016-1A, Class A1R, (CME Term SOFR 3 Month + 1.33%), 6.66%, 01/20/2031 (e) (aa) | 7,857 | 7,841 | ||||||
Wellfleet CLO Ltd., (Cayman Islands), Series 2018-3A, Class A1A, (CME Term SOFR 3 Month + 1.51%), 6.84%, 01/20/2032 (e) (aa) | 7,600 | 7,555 | ||||||
Westlake Automobile Receivables Trust, Series 2022-2A, Class C, 4.85%, 09/15/2027 (e) | 75 | 73 | ||||||
|
|
|||||||
Total Asset-Backed Securities (Cost $113,088) |
112,996 | |||||||
|
|
|||||||
Collateralized Mortgage Obligations 0.1% | ||||||||
Connecticut Avenue Securities Trust, | ||||||||
Series 2023-R01, Class 1M1, (United States 30 Day Average SOFR + 2.40%), 7.71%, 12/25/2042 (e) (aa) | 335 | 341 | ||||||
Series 2023-R03, Class 2M1, (United States 30 Day Average SOFR + 2.50%), 7.81%, 04/25/2043 (e) (aa) | 136 | 138 | ||||||
FHLMC Structured Agency Credit Risk Debt Note, Series 2023-DNA2, Class M1A, (United States 30 Day Average SOFR + 2.10%), 7.41%, 04/25/2043 (e) (aa) | 456 | 461 | ||||||
FNMA Connecticut Avenue Securities, Series 2013-C01, Class M2, (United States 30 Day Average SOFR + 5.36%), 10.68%, 10/25/2023 (aa) | 300 | 302 | ||||||
Verus Securitization Trust, | ||||||||
Series 2021-1, Class A1, 0.82%, 01/25/2066 (e) (z) | 185 | 154 | ||||||
Series 2021-3, Class A1, 1.05%, 06/25/2066 (e) (z) | 504 | 418 | ||||||
Series 2021-R2, Class A1, 0.92%, 02/25/2064 (e) (z) | 633 | 536 | ||||||
Series 2021-R3, Class A1, 1.02%, 04/25/2064 (e) (z) | 311 | 272 | ||||||
|
|
|||||||
Total Collateralized Mortgage Obligations (Cost $2,861) |
2,622 | |||||||
|
|
|||||||
Commercial Mortgage-Backed Securities 0.1% |
|
|||||||
BWAY Mortgage Trust, Series 2015-1740, Class C, 3.34%, 01/10/2035 (e) | 2,750 | 334 | ||||||
BX Commercial Mortgage Trust, Series 2021-XL2, Class A, (CME Term SOFR 1 Month + 0.80%), 6.13%, 10/15/2038 (e) (aa) | 704 | 687 | ||||||
BXHPP Trust, Series 2021-FILM, Class B, (CME Term SOFR 1 Month + 1.01%), 6.35%, 08/15/2036 (e) (aa) | 220 | 202 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities continued | ||||||||
DBWF Mortgage Trust, Series 2018-GLKS, Class A, (CME Term SOFR 1 Month + 1.18%), 6.51%, 12/19/2030 (e) (aa) | 452 | 449 | ||||||
Great Wolf Trust, Series 2019-WOLF, Class A, (CME Term SOFR 1 Month + 1.15%), 6.48%, 12/15/2036 (e) (aa) | 550 | 547 | ||||||
GS Mortgage Securities Corp. Trust, | ||||||||
Series 2021-ROSS, Class A, (CME Term SOFR 1 Month + 1.26%), 6.60%, 05/15/2026 (e) (aa) | 720 | 635 | ||||||
Series 2021-ROSS, Class H, (CME Term SOFR 1 Month + 6.01%), 11.35%, 05/15/2026 (e) (aa) | 270 | 149 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C29, Class A4, 3.33%, 05/15/2049 | 900 | 836 | ||||||
WFRBS Commercial Mortgage Trust, | ||||||||
Series 2013-C15, Class AS, 4.36%, 08/15/2046 (z) | 582 | 547 | ||||||
Series 2014-C19, Class A5, 4.10%, 03/15/2047 | 500 | 495 | ||||||
|
|
|||||||
Total Commercial Mortgage-Backed Securities (Cost $7,798) |
4,881 | |||||||
|
|
|||||||
Convertible Bonds 0.4% | ||||||||
Communications 0.3% | ||||||||
Internet 0.2% | ||||||||
Meituan, (Cayman Islands), Reg. S, Zero Coupon, 04/27/2028 | 5,100 | 4,213 | ||||||
Uber Technologies, Inc., Zero Coupon, 12/15/2025 | 2,600 | 2,425 | ||||||
|
|
|||||||
6,638 | ||||||||
|
|
|||||||
Media 0.1% | ||||||||
Cable One, Inc., | ||||||||
Zero Coupon, 03/15/2026 | 623 | 510 | ||||||
1.13%, 03/15/2028 | 986 | 733 | ||||||
|
|
|||||||
1,243 | ||||||||
|
|
|||||||
Telecommunications 0.0% (g) | ||||||||
Digicel Group Holdings Ltd., (Bermuda), 7.00%, (cash), 10/16/2023 (d) (e) (v) (x) | 67 | 4 | ||||||
|
|
|||||||
Total Communications | 7,885 | |||||||
|
|
|||||||
Consumer Cyclical 0.1% | ||||||||
Lodging 0.1% | ||||||||
Wynn Macau Ltd., (Cayman Islands), 4.50%, 03/07/2029 (e) | 2,800 | 2,947 | ||||||
|
|
|||||||
Consumer Non-cyclical 0.0% (g) | ||||||||
Commercial Services 0.0% (g) | ||||||||
Nexi SpA, (Italy), Reg. S, Zero Coupon, 02/24/2028 | EUR | 400 | 322 | |||||
Shift4 Payments, Inc., Zero Coupon, 12/15/2025 | 292 | 287 | ||||||
|
|
|||||||
Total Consumer Non-cyclical | 609 | |||||||
|
|
|||||||
Financial 0.0% (g) | ||||||||
Diversified Financial Services 0.0% (g) | ||||||||
Universe Trek Ltd., (British Virgin Islands), Reg. S, Zero Coupon, 06/15/2026 | 800 | 773 | ||||||
|
|
|||||||
Industrial 0.0% (g) | ||||||||
Engineering & Construction 0.0% (g) | ||||||||
Cellnex Telecom SA, (Spain), | ||||||||
Reg. S, 0.75%, 11/20/2031 | EUR | 100 | 81 | |||||
Reg. S, 2.13%, 08/11/2030 | EUR | 200 | 201 | |||||
|
|
|||||||
Total Industrial | 282 | |||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Convertible Bonds continued | ||||||||
Technology 0.0% (g) | ||||||||
Computers 0.0% (g) | ||||||||
Atos SE, (France), Reg. S, Zero Coupon, 11/06/2024 | EUR | 100 | 88 | |||||
|
|
|||||||
Total Convertible Bonds (Cost $12,823) |
12,584 | |||||||
|
|
|||||||
Corporate Bonds 83.0% | ||||||||
Basic Materials 4.6% | ||||||||
Chemicals 1.4% | ||||||||
Ashland, Inc., | ||||||||
3.38%, 09/01/2031 (e) | 1,232 | 958 | ||||||
6.88%, 05/15/2043 | 500 | 479 | ||||||
Avient Corp., 7.13%, 08/01/2030 (e) | 581 | 571 | ||||||
Axalta Coating Systems Dutch Holding B BV, (Netherlands), Reg. S, 3.75%, 01/15/2025 | EUR | 200 | 208 | |||||
Axalta Coating Systems LLC, 3.38%, 02/15/2029 (e) | 1,806 | 1,504 | ||||||
Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV, (Multinational), 4.75%, 06/15/2027 (e) | 1,590 | 1,478 | ||||||
Celanese US Holdings LLC, | ||||||||
6.17%, 07/15/2027 | 397 | 392 | ||||||
6.35%, 11/15/2028 | 625 | 618 | ||||||
6.55%, 11/15/2030 | 596 | 583 | ||||||
6.70%, 11/15/2033 | 843 | 822 | ||||||
Chemours Co. (The), | ||||||||
4.63%, 11/15/2029 (e) | 1,117 | 899 | ||||||
5.75%, 11/15/2028 (e) | 867 | 752 | ||||||
Element Solutions, Inc., 3.88%, 09/01/2028 (e) | 7,253 | 6,259 | ||||||
FIS Fabbrica Italiana Sintetici SpA, (Italy), Reg. S, 5.63%, 08/01/2027 | EUR | 200 | 195 | |||||
Herens Holdco Sarl, (Luxembourg), 4.75%, 05/15/2028 (e) | 1,505 | 1,169 | ||||||
Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.00%, 07/01/2028 (e) | 2,042 | 1,932 | ||||||
INEOS Quattro Finance 2 Plc, (United Kingdom), Reg. S, 2.50%, 01/15/2026 | EUR | 194 | 186 | |||||
International Flavors & Fragrances, Inc., 1.23%, 10/01/2025 (e) | 406 | 364 | ||||||
Iris Holding, Inc., 10.00%, 12/15/2028 (e) | 2,200 | 1,721 | ||||||
Kobe US Midco 2, Inc., 9.25% (cash), 11/01/2026 (e) (v) | 1,436 | 1,048 | ||||||
Kronos International, Inc., Reg. S, 3.75%, 09/15/2025 | EUR | 183 | 174 | |||||
LG Chem Ltd., (South Korea), Reg. S, 3.25%, 10/15/2024 | 1,452 | 1,412 | ||||||
LSF11 A5 HoldCo. LLC, 6.63%, 10/15/2029 (e) | 662 | 550 | ||||||
Monitchem HoldCo. 3 SA, (Luxembourg), 8.75%, 05/01/2028 | EUR | 100 | 103 | |||||
Nobian Finance BV, (Netherlands), Reg. S, 3.63%, 07/15/2026 | EUR | 118 | 112 | |||||
Olympus Water US Holding Corp., | ||||||||
4.25%, 10/01/2028 (e) | 1,125 | 917 | ||||||
Reg. S, 9.63%, 11/15/2028 | EUR | 198 | 209 | |||||
9.75%, 11/15/2028 (e) | 4,465 | 4,455 | ||||||
Orbia Advance Corp. SAB de CV, (Mexico), 1.88%, 05/11/2026 (e) | 249 | 222 | ||||||
Rain Carbon, Inc., 12.25%, 09/01/2029 (e) | 1,025 | 1,075 | ||||||
Rain CII Carbon LLC / CII Carbon Corp., 7.25%, 04/01/2025 (e) | 47 | 45 | ||||||
Sasol Financing USA LLC, 5.88%, 03/27/2024 | 200 | 198 | ||||||
SCIL IV LLC / SCIL USA Holdings LLC, | ||||||||
5.38%, 11/01/2026 (e) | 982 | 897 | ||||||
Reg. S, (ICE LIBOR EUR 3 Month + 4.38%), 8.10%, 11/01/2026 (aa) | EUR | 100 | 105 | |||||
Reg. S, 9.50%, 07/15/2028 | EUR | 101 | 109 | |||||
SK Invictus Intermediate II Sarl, (Luxembourg), 5.00%, 10/30/2029 (e) | 4,680 | 3,751 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Chemicals continued | ||||||||
SNF Group SACA, (France), 3.13%, 03/15/2027 (e) | 387 | 343 | ||||||
Synthomer plc, (United Kingdom), Reg. S, 3.88%, 07/01/2025 | EUR | 147 | 148 | |||||
Tronox, Inc., 4.63%, 03/15/2029 (e) | 815 | 657 | ||||||
Valvoline, Inc., 3.63%, 06/15/2031 (e) | 1,325 | 1,027 | ||||||
Venator Finance Sarl / Venator Materials LLC, (Multinational), | ||||||||
5.75%, 07/15/2025 (d) (e) | 1,835 | 80 | ||||||
9.50%, 07/01/2025 (d) (e) | 529 | 212 | ||||||
WR Grace Holdings LLC, | ||||||||
4.88%, 06/15/2027 (e) | 858 | 787 | ||||||
5.63%, 08/15/2029 (e) | 5,024 | 4,063 | ||||||
7.38%, 03/01/2031 (e) | 1,254 | 1,212 | ||||||
|
|
|||||||
45,001 | ||||||||
|
|
|||||||
Forest Products & Paper 0.0% (g) | ||||||||
Ahlstrom Holding 3 Oy, (Finland), Reg. S, 3.63%, 02/04/2028 | EUR | 100 | 88 | |||||
|
|
|||||||
Iron/Steel 1.3% | ||||||||
ABJA Investment Co. Pte Ltd., (Singapore), Reg. S, 5.95%, 07/31/2024 | 2,000 | 1,993 | ||||||
ATI, Inc., | ||||||||
4.88%, 10/01/2029 | 816 | 718 | ||||||
5.13%, 10/01/2031 | 895 | 772 | ||||||
5.88%, 12/01/2027 | 1,002 | 949 | ||||||
7.25%, 08/15/2030 | 2,740 | 2,720 | ||||||
Baffinland Iron Mines Corp. / Baffinland Iron Mines LP, (Canada), 8.75%, 07/15/2026 (e) | 162 | 158 | ||||||
Big River Steel LLC / BRS Finance Corp., 6.63%, 01/31/2029 (e) | 8,803 | 8,698 | ||||||
Carpenter Technology Corp., | ||||||||
6.38%, 07/15/2028 | 2,163 | 2,086 | ||||||
7.63%, 03/15/2030 | 1,089 | 1,090 | ||||||
Cleveland-Cliffs, Inc., 6.75%, 04/15/2030 (e) | 1,225 | 1,145 | ||||||
Commercial Metals Co., 4.38%, 03/15/2032 | 325 | 273 | ||||||
Mineral Resources Ltd., (Australia), 8.13%, 05/01/2027 (e) | 1,937 | 1,911 | ||||||
Periama Holdings LLC, Reg. S, 5.95%, 04/19/2026 | 18,650 | 17,680 | ||||||
POSCO, (South Korea), Reg. S, 2.75%, 07/15/2024 | 600 | 584 | ||||||
|
|
|||||||
40,777 | ||||||||
|
|
|||||||
Mining 1.9% | ||||||||
Anglo American Capital plc, (United Kingdom), 4.88%, 05/14/2025 (e) | 344 | 338 | ||||||
Arsenal AIC Parent LLC, 8.00%, 10/01/2030 (e) | 1,049 | 1,044 | ||||||
Bukit Makmur Mandiri Utama PT, (Indonesia), Reg. S, 7.75%, 02/10/2026 | 6,400 | 5,533 | ||||||
China Hongqiao Group Ltd., (Cayman Islands), Reg. S, 6.25%, 06/08/2024 | 2,900 | 2,827 | ||||||
Constellium SE, (France), | ||||||||
3.75%, 04/15/2029 (e) | 3,871 | 3,244 | ||||||
Reg. S, 4.25%, 02/15/2026 | EUR | 400 | 412 | |||||
5.63%, 06/15/2028 (e) | 1,126 | 1,054 | ||||||
5.88%, 02/15/2026 (e) | 1,730 | 1,690 | ||||||
Eldorado Gold Corp., (Canada), 6.25%, 09/01/2029 (e) | 575 | 496 | ||||||
ERO Copper Corp., (Canada), 6.50%, 02/15/2030 (e) | 608 | 523 | ||||||
First Quantum Minerals Ltd., (Canada), | ||||||||
6.88%, 03/01/2026 (e) | 335 | 325 | ||||||
6.88%, 10/15/2027 (e) | 2,012 | 1,930 | ||||||
7.50%, 04/01/2025 (e) | 659 | 658 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Mining continued | ||||||||
8.63%, 06/01/2031 (e) | 2,500 | 2,494 | ||||||
Glencore Funding LLC, | ||||||||
1.63%, 04/27/2026 (e) | 291 | 262 | ||||||
4.00%, 04/16/2025 (e) | 164 | 159 | ||||||
4.00%, 03/27/2027 (e) | 250 | 235 | ||||||
4.63%, 04/29/2024 (e) | 558 | 552 | ||||||
6.13%, 10/06/2028 (e) (w) | 116 | 116 | ||||||
Hecla Mining Co., 7.25%, 02/15/2028 | 1,083 | 1,048 | ||||||
Hudbay Minerals, Inc., (Canada), | ||||||||
4.50%, 04/01/2026 (e) | 525 | 491 | ||||||
6.13%, 04/01/2029 (e) | 2,181 | 2,020 | ||||||
Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT, (Indonesia), Reg. S, 5.80%, 05/15/2050 | 3,000 | 2,432 | ||||||
Kaiser Aluminum Corp., | ||||||||
4.50%, 06/01/2031 (e) | 2,452 | 1,942 | ||||||
4.63%, 03/01/2028 (e) | 931 | 813 | ||||||
New Gold, Inc., (Canada), 7.50%, 07/15/2027 (e) | 5,801 | 5,415 | ||||||
Northern Star Resources Ltd., (Australia), Reg. S, 6.13%, 04/11/2033 | 4,000 | 3,728 | ||||||
Novelis Corp., | ||||||||
3.25%, 11/15/2026 (e) | 4,493 | 4,012 | ||||||
3.88%, 08/15/2031 (e) | 2,465 | 1,969 | ||||||
4.75%, 01/30/2030 (e) | 4,065 | 3,519 | ||||||
Novelis Sheet Ingot GmbH, (Germany), Reg. S, 3.38%, 04/15/2029 | EUR | 900 | 820 | |||||
Vedanta Resources Finance II plc, (United Kingdom), | ||||||||
8.95%, 03/11/2025 (e) | 200 | 147 | ||||||
Reg. S, 8.95%, 03/11/2025 | 11,200 | 8,232 | ||||||
|
|
|||||||
60,480 | ||||||||
|
|
|||||||
Total Basic Materials | 146,346 | |||||||
|
|
|||||||
Communications 8.9% | ||||||||
Advertising 0.6% | ||||||||
Clear Channel International BV, (Netherlands), 6.63%, 08/01/2025 (e) | 1,928 | 1,906 | ||||||
Clear Channel Outdoor Holdings, Inc., | ||||||||
5.13%, 08/15/2027 (e) | 4,109 | 3,649 | ||||||
7.50%, 06/01/2029 (e) | 4,102 | 3,141 | ||||||
7.75%, 04/15/2028 (e) | 584 | 466 | ||||||
9.00%, 09/15/2028 (e) | 3,827 | 3,790 | ||||||
CMG Media Corp., 8.88%, 12/15/2027 (e) | 5,380 | 4,211 | ||||||
Outfront Media Capital LLC / Outfront Media Capital Corp., | ||||||||
4.25%, 01/15/2029 (e) | 2,284 | 1,813 | ||||||
4.63%, 03/15/2030 (e) | 45 | 35 | ||||||
5.00%, 08/15/2027 (e) | 1,809 | 1,595 | ||||||
Summer BC Holdco B Sarl, (Luxembourg), Reg. S, 5.75%, 10/31/2026 | EUR | 100 | 97 | |||||
|
|
|||||||
20,703 | ||||||||
|
|
|||||||
Internet 0.9% | ||||||||
Acuris Finance US, Inc. / Acuris Finance Sarl, 5.00%, 05/01/2028 (e) | 3,167 | 2,605 | ||||||
ANGI Group LLC, 3.88%, 08/15/2028 (e) | 835 | 654 | ||||||
Arches Buyer, Inc., 4.25%, 06/01/2028 (e) | 115 | 98 | ||||||
Cablevision Lightpath LLC, | ||||||||
3.88%, 09/15/2027 (e) | 3,163 | 2,641 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Internet continued | ||||||||
5.63%, 09/15/2028 (e) | 1,050 | 806 | ||||||
Engineering - Ingegneria Informatica - SpA, (Italy), Reg. S, 11.13%, 05/15/2028 | EUR | 104 | 110 | |||||
Gen Digital, Inc., 5.00%, 04/15/2025 (e) | 1,185 | 1,157 | ||||||
Go Daddy Operating Co. LLC / GD Finance Co., Inc., 3.50%, 03/01/2029 (e) | 1,314 | 1,106 | ||||||
Iliad SA, (France), Reg. S, 5.38%, 06/14/2027 | EUR | 300 | 308 | |||||
ION Trading Technologies Sarl, (Luxembourg), 5.75%, 05/15/2028 (e) | 1,008 | 879 | ||||||
Match Group Holdings II LLC, | ||||||||
3.63%, 10/01/2031 (e) | 1,312 | 1,035 | ||||||
4.63%, 06/01/2028 (e) | 788 | 707 | ||||||
Netflix, Inc., 4.88%, 04/15/2028 | 175 | 170 | ||||||
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 4.75%, 04/30/2027 (e) | 735 | 654 | ||||||
Prosus NV, (Netherlands), | ||||||||
Reg. S, 3.06%, 07/13/2031 | 3,300 | 2,451 | ||||||
Reg. S, 4.99%, 01/19/2052 | 5,200 | 3,414 | ||||||
Uber Technologies, Inc., | ||||||||
4.50%, 08/15/2029 (e) | 6,143 | 5,493 | ||||||
6.25%, 01/15/2028 (e) | 1,267 | 1,239 | ||||||
7.50%, 05/15/2025 (e) | 113 | 114 | ||||||
7.50%, 09/15/2027 (e) | 1,606 | 1,619 | ||||||
8.00%, 11/01/2026 (e) | 1,105 | 1,118 | ||||||
United Group BV, (Netherlands), Reg. S, 4.00%, 11/15/2027 | EUR | 100 | 92 | |||||
|
|
|||||||
28,470 | ||||||||
|
|
|||||||
Media 4.1% | ||||||||
Altice Financing SA, (Luxembourg), | ||||||||
Reg. S, 3.00%, 01/15/2028 | EUR | 100 | 89 | |||||
Reg. S, 4.25%, 08/15/2029 | EUR | 107 | 94 | |||||
5.00%, 01/15/2028 (e) | 200 | 171 | ||||||
5.75%, 08/15/2029 (e) | 4,640 | 3,804 | ||||||
AMC Networks, Inc., | ||||||||
4.75%, 08/01/2025 | 31 | 28 | ||||||
5.00%, 04/01/2024 | 450 | 444 | ||||||
Cable One, Inc., 4.00%, 11/15/2030 (e) | 1,523 | 1,160 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., | ||||||||
4.25%, 02/01/2031 (e) | 9,971 | 7,937 | ||||||
4.25%, 01/15/2034 (e) | 5,437 | 4,004 | ||||||
4.50%, 08/15/2030 (e) | 528 | 433 | ||||||
4.50%, 05/01/2032 | 4,947 | 3,883 | ||||||
4.50%, 06/01/2033 (e) | 2,550 | 1,953 | ||||||
4.75%, 03/01/2030 (e) | 4,003 | 3,361 | ||||||
4.75%, 02/01/2032 (e) | 1,924 | 1,544 | ||||||
5.00%, 02/01/2028 (e) | 6,808 | 6,183 | ||||||
5.13%, 05/01/2027 (e) | 4,469 | 4,164 | ||||||
5.38%, 06/01/2029 (e) | 300 | 269 | ||||||
6.38%, 09/01/2029 (e) | 4,241 | 3,956 | ||||||
7.38%, 03/01/2031 (e) | 3,791 | 3,662 | ||||||
Charter Communications Operating LLC / Charter Communications Operating Capital, 4.50%, 02/01/2024 | 207 | 206 | ||||||
CSC Holdings LLC, | ||||||||
3.38%, 02/15/2031 (e) | 900 | 613 | ||||||
4.13%, 12/01/2030 (e) | 2,783 | 1,969 | ||||||
4.50%, 11/15/2031 (e) | 1,440 | 1,021 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Media continued | ||||||||
4.63%, 12/01/2030 (e) | 7,010 | 3,727 | ||||||
5.00%, 11/15/2031 (e) | 2,100 | 1,126 | ||||||
5.38%, 02/01/2028 (e) | 825 | 672 | ||||||
5.50%, 04/15/2027 (e) | 2,346 | 2,008 | ||||||
5.75%, 01/15/2030 (e) | 2,000 | 1,120 | ||||||
6.50%, 02/01/2029 (e) | 1,705 | 1,413 | ||||||
7.50%, 04/01/2028 (e) | 500 | 326 | ||||||
11.25%, 05/15/2028 (e) | 8,369 | 8,336 | ||||||
Diamond Sports Group LLC / Diamond Sports Finance Co., | ||||||||
5.38%, 08/15/2026 (d) (e) | 17,957 | 359 | ||||||
6.63%, 08/15/2027 (d) (e) | 10,954 | 219 | ||||||
DIRECTV Financing LLC / DIRECTV Financing Co-Obligor, Inc., 5.88%, 08/15/2027 (e) | 1,539 | 1,363 | ||||||
DISH DBS Corp., | ||||||||
5.13%, 06/01/2029 | 1,344 | 745 | ||||||
5.25%, 12/01/2026 (e) | 14 | 12 | ||||||
5.75%, 12/01/2028 (e) | 1,790 | 1,376 | ||||||
7.38%, 07/01/2028 | 5,423 | 3,417 | ||||||
7.75%, 07/01/2026 | 4,515 | 3,386 | ||||||
DISH Network Corp., 11.75%, 11/15/2027 (e) | 8,700 | 8,766 | ||||||
FactSet Research Systems, Inc., 2.90%, 03/01/2027 | 120 | 110 | ||||||
GCI LLC, 4.75%, 10/15/2028 (e) | 182 | 157 | ||||||
Gray Television, Inc., | ||||||||
5.88%, 07/15/2026 (e) | 3,290 | 2,956 | ||||||
7.00%, 05/15/2027 (e) | 987 | 849 | ||||||
iHeartCommunications, Inc., 6.38%, 05/01/2026 | 1,175 | 1,013 | ||||||
LCPR Senior Secured Financing DAC, (Ireland), 6.75%, 10/15/2027 (e) | 2,112 | 1,940 | ||||||
Midcontinent Communications / Midcontinent Finance Corp., 5.38%, 08/15/2027 (e) | 325 | 301 | ||||||
News Corp., 3.88%, 05/15/2029 (e) | 250 | 215 | ||||||
Nexstar Media, Inc., | ||||||||
4.75%, 11/01/2028 (e) | 590 | 488 | ||||||
5.63%, 07/15/2027 (e) | 638 | 568 | ||||||
Radiate Holdco LLC / Radiate Finance, Inc., | ||||||||
4.50%, 09/15/2026 (e) | 2,955 | 2,245 | ||||||
6.50%, 09/15/2028 (e) | 8,496 | 4,460 | ||||||
RCS & RDS SA, (Romania), Reg. S, 2.50%, 02/05/2025 | EUR | 200 | 203 | |||||
Sinclair Television Group, Inc., | ||||||||
4.13%, 12/01/2030 (e) | 1,589 | 977 | ||||||
5.13%, 02/15/2027 (e) | 2,465 | 1,972 | ||||||
Sirius XM Radio, Inc., | ||||||||
3.13%, 09/01/2026 (e) | 2,810 | 2,504 | ||||||
5.00%, 08/01/2027 (e) | 3,099 | 2,831 | ||||||
TEGNA, Inc., 4.75%, 03/15/2026 (e) | 202 | 191 | ||||||
Tele Columbus AG, (Germany), Reg. S, 3.88%, 05/02/2025 | EUR | 344 | 209 | |||||
Telenet Finance Luxembourg Notes Sarl, (Luxembourg), 5.50%, 03/01/2028 (e) | 1,200 | 1,080 | ||||||
Univision Communications, Inc., | ||||||||
5.13%, 02/15/2025 (e) | 1,910 | 1,862 | ||||||
6.63%, 06/01/2027 (e) | 5,067 | 4,717 | ||||||
7.38%, 06/30/2030 (e) | 849 | 775 | ||||||
8.00%, 08/15/2028 (e) | 1,557 | 1,510 | ||||||
UPC Broadband Finco BV, (Netherlands), 4.88%, 07/15/2031 (e) | 1,402 | 1,138 | ||||||
UPC Holding BV, (Netherlands), Reg. S, 3.88%, 06/15/2029 | EUR | 100 | 87 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Media continued | ||||||||
Virgin Media Secured Finance plc, (United Kingdom), Reg. S, 5.00%, 04/15/2027 | GBP | 355 | 401 | |||||
Virgin Media Vendor Financing Notes III DAC, (Ireland), Reg. S, 4.88%, 07/15/2028 | GBP | 300 | 304 | |||||
Virgin Media Vendor Financing Notes IV DAC, (Ireland), 5.00%, 07/15/2028 (e) | 2,389 | 2,061 | ||||||
VZ Secured Financing BV, (Netherlands), | ||||||||
Reg. S, 3.50%, 01/15/2032 | EUR | 100 | 81 | |||||
5.00%, 01/15/2032 (e) | 2,150 | 1,689 | ||||||
VZ Vendor Financing II BV, (Netherlands), Reg. S, 2.88%, 01/15/2029 | EUR | 100 | 81 | |||||
Ziggo Bond Co. BV, (Netherlands), 5.13%, 02/28/2030 (e) | 872 | 651 | ||||||
Ziggo BV, (Netherlands), 4.88%, 01/15/2030 (e) | 152 | 124 | ||||||
|
|
|||||||
130,069 | ||||||||
|
|
|||||||
Telecommunications 3.3% | ||||||||
Altice France SA, (France), | ||||||||
Reg. S, 2.13%, 02/15/2025 | EUR | 200 | 199 | |||||
Reg. S, 3.38%, 01/15/2028 | EUR | 100 | 78 | |||||
5.13%, 01/15/2029 (e) | 1,276 | 907 | ||||||
5.13%, 07/15/2029 (e) | 3,054 | 2,166 | ||||||
5.50%, 01/15/2028 (e) | 155 | 119 | ||||||
5.50%, 10/15/2029 (e) | 3,072 | 2,210 | ||||||
8.13%, 02/01/2027 (e) | 4,118 | 3,653 | ||||||
AT&T, Inc., 5.54%, 02/20/2026 | 386 | 383 | ||||||
Bharti Airtel International Netherlands BV, (Netherlands), Reg. S, 5.35%, 05/20/2024 | 2,000 | 1,990 | ||||||
CommScope Technologies LLC, 6.00%, 06/15/2025 (e) | 1,642 | 1,534 | ||||||
CommScope, Inc., | ||||||||
4.75%, 09/01/2029 (e) | 2,131 | 1,546 | ||||||
6.00%, 03/01/2026 (e) | 1,204 | 1,123 | ||||||
Connect Finco Sarl / Connect US Finco LLC, (Multinational), 6.75%, 10/01/2026 (e) | 6,080 | 5,671 | ||||||
Digicel Group Holdings Ltd., (Bermuda), 8.00%, 04/01/2025 (d) (e) | 141 | 30 | ||||||
Digicel International Finance Ltd. / Digicel international Holdings Ltd., (Multinational), | ||||||||
8.00%, 12/31/2026 (d) (e) | 6,725 | 303 | ||||||
8.75%, 05/25/2024 (e) | 1,000 | 900 | ||||||
13.00% (Blend (cash 6.00% + PIK 7.00%)), 12/31/2025 (d) (e) | 2,651 | 1,842 | ||||||
Digicel Ltd., (Bermuda), 6.75%, 03/01/2023 (d) (e) | 19,230 | 481 | ||||||
Eutelsat SA, (France), Reg. S, 1.50%, 10/13/2028 | EUR | 200 | 156 | |||||
Frontier Communications Holdings LLC, | ||||||||
5.00%, 05/01/2028 (e) | 1,519 | 1,297 | ||||||
5.88%, 10/15/2027 (e) | 576 | 524 | ||||||
6.75%, 05/01/2029 (e) | 860 | 661 | ||||||
8.75%, 05/15/2030 (e) | 7,011 | 6,657 | ||||||
Global Switch Holdings Ltd., (British Virgin Islands), Reg. S, 2.25%, 05/31/2027 | EUR | 179 | 174 | |||||
Globe Telecom, Inc., (Philippines), | ||||||||
Reg. S, 3.00%, 07/23/2035 | 1,300 | 931 | ||||||
Reg. S, (CMT Index 5 Year + 5.53%), 4.20%, 08/02/2026 (x) (aa) | 7,384 | 6,844 | ||||||
Hughes Satellite Systems Corp., 5.25%, 08/01/2026 | 425 | 382 | ||||||
Iliad Holding SASU, (France), | ||||||||
Reg. S, 5.63%, 10/15/2028 | EUR | 100 | 98 | |||||
6.50%, 10/15/2026 (e) | 5,521 | 5,187 | ||||||
7.00%, 10/15/2028 (e) | 2,635 | 2,399 | ||||||
Intelsat Jackson Holdings SA, (Luxembourg), | ||||||||
5.50%, 08/01/2024 (d) (bb) (cc) | 3,425 | | (h) | |||||
6.50%, 03/15/2030 (e) | 4,320 | 3,831 | ||||||
8.50%, 10/15/2024 (d) (e) (bb) (cc) | 3,800 | | (h) |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Telecommunications continued | ||||||||
9.75%, 07/15/2025 (d) (e) (bb) (cc) | 1,875 | | (h) | |||||
Level 3 Financing, Inc., | ||||||||
3.40%, 03/01/2027 (e) | 6,925 | 6,488 | ||||||
3.63%, 01/15/2029 (e) | 446 | 250 | ||||||
3.75%, 07/15/2029 (e) | 255 | 143 | ||||||
4.25%, 07/01/2028 (e) | 210 | 131 | ||||||
4.63%, 09/15/2027 (e) | 4,963 | 3,515 | ||||||
10.50%, 05/15/2030 (e) | 3,749 | 3,773 | ||||||
Liberty Costa Rica Senior Secured Finance, (Cayman Islands), 10.88%, 01/15/2031 (e) | 832 | 834 | ||||||
Ligado Networks LLC, 15.50% (cash), 11/01/2023 (e) (v) | 306 | 110 | ||||||
Lorca Telecom Bondco SA, (Spain), Reg. S, 4.00%, 09/18/2027 | EUR | 319 | 313 | |||||
Lumen Technologies, Inc., 4.00%, 02/15/2027 (e) | 2,128 | 1,401 | ||||||
SES SA, (Luxembourg), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 3.19%), 2.88%, 05/27/2026 (x) (aa) | EUR | 100 | 92 | |||||
Reg. S, (EUR Swap Rate 5 Year + 5.40%), 5.63%, 01/29/2024 (x) (aa) | EUR | 100 | 105 | |||||
SoftBank Group Corp., (Japan), | ||||||||
Reg. S, 3.13%, 09/19/2025 | EUR | 482 | 478 | |||||
Reg. S, 3.88%, 07/06/2032 | EUR | 100 | 81 | |||||
Reg. S, 4.00%, 09/19/2029 | EUR | 100 | 88 | |||||
Reg. S, 4.50%, 04/20/2025 | EUR | 100 | 104 | |||||
Sprint Capital Corp., | ||||||||
6.88%, 11/15/2028 | 500 | 517 | ||||||
8.75%, 03/15/2032 | 575 | 666 | ||||||
Sprint LLC, | ||||||||
7.13%, 06/15/2024 | 2,584 | 2,600 | ||||||
7.63%, 02/15/2025 | 1,390 | 1,411 | ||||||
Telecom Italia Capital SA, (Luxembourg), | ||||||||
6.00%, 09/30/2034 | 499 | 416 | ||||||
6.38%, 11/15/2033 | 447 | 388 | ||||||
7.20%, 07/18/2036 | 1,456 | 1,295 | ||||||
7.72%, 06/04/2038 | 311 | 285 | ||||||
Telecom Italia Finance SA, (Luxembourg), 7.75%, 01/24/2033 | EUR | 100 | 112 | |||||
Telecom Italia SpA, (Italy), | ||||||||
Reg. S, 1.63%, 01/18/2029 | EUR | 442 | 365 | |||||
5.30%, 05/30/2024 (e) | 400 | 393 | ||||||
Reg. S, 6.88%, 02/15/2028 | EUR | 127 | 135 | |||||
Reg. S, 7.88%, 07/31/2028 | EUR | 228 | 250 | |||||
Telefonica Europe BV, (Netherlands), | ||||||||
Reg. S, (EUR Swap Rate 8 Year + 3.62%), 6.75%, 06/07/2031 (x) (aa) | EUR | 200 | 208 | |||||
Reg. S, (EUR Swap Rate 6 Year + 4.32%), 7.13%, 08/23/2028 (x) (aa) | EUR | 200 | 217 | |||||
T-Mobile USA, Inc., | ||||||||
2.25%, 02/15/2026 | 160 | 148 | ||||||
2.63%, 04/15/2026 | 36 | 33 | ||||||
3.75%, 04/15/2027 | 90 | 84 | ||||||
Viasat, Inc., | ||||||||
5.63%, 09/15/2025 (e) | 9,113 | 8,431 | ||||||
5.63%, 04/15/2027 (e) | 739 | 640 | ||||||
7.50%, 05/30/2031 (e) | 902 | 596 | ||||||
Viavi Solutions, Inc., 3.75%, 10/01/2029 (e) | 1,048 | 855 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Telecommunications continued | ||||||||
Vmed O2 UK Financing I plc, (United Kingdom), | ||||||||
Reg. S, 4.00%, 01/31/2029 | GBP | 100 | 99 | |||||
4.25%, 01/31/2031 (e) | 303 | 242 | ||||||
4.75%, 07/15/2031 (e) | 765 | 618 | ||||||
Vodafone Group plc, (United Kingdom), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 3.48%), 3.00%, 08/27/2080 (aa) | EUR | 100 | 86 | |||||
Reg. S, (GBP Swap Rate 5 Year + 3.27%), 4.88%, 10/03/2078 (aa) | GBP | 200 | 229 | |||||
Reg. S, (EUR Swap Rate 5 Year + 3.49%), 6.50%, 08/30/2084 (aa) | EUR | 100 | 106 | |||||
Xiaomi Best Time International Ltd., (Hong Kong), Reg. S, 4.10%, 07/14/2051 | 3,100 | 1,735 | ||||||
Zayo Group Holdings, Inc., | ||||||||
4.00%, 03/01/2027 (e) | 11,891 | 8,822 | ||||||
6.13%, 03/01/2028 (e) | 5,053 | 3,247 | ||||||
|
|
|||||||
107,411 | ||||||||
|
|
|||||||
Total Communications | 286,653 | |||||||
|
|
|||||||
Consumer Cyclical 16.9% | ||||||||
Airlines 1.0% | ||||||||
Air Canada, (Canada), 3.88%, 08/15/2026 (e) | 1,647 | 1,495 | ||||||
Air France-KLM, (France), Reg. S, 8.13%, 05/31/2028 | EUR | 200 | 220 | |||||
Allegiant Travel Co., 7.25%, 08/15/2027 (e) | 260 | 245 | ||||||
American Airlines, Inc., | ||||||||
7.25%, 02/15/2028 (e) | 1,106 | 1,057 | ||||||
11.75%, 07/15/2025 (e) | 4,007 | 4,307 | ||||||
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., (Multinational), | ||||||||
5.50%, 04/20/2026 (e) | 879 | 859 | ||||||
5.75%, 04/20/2029 (e) | 5,243 | 4,872 | ||||||
British Airways 2013-1 Class A Pass Through Trust, 4.63%, 06/20/2024 (e) | 114 | 113 | ||||||
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., (Cayman Islands), 5.75%, 01/20/2026 (e) | 777 | 700 | ||||||
International Consolidated Airlines Group SA, (Spain), Reg. S, 3.75%, 03/25/2029 | EUR | 100 | 91 | |||||
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/2027 (e) | 3,068 | 3,041 | ||||||
Singapore Airlines Ltd., (Singapore), Reg. S, 3.00%, 07/20/2026 | 4,650 | 4,349 | ||||||
Spirit Loyalty Cayman Ltd. / Spirit IP Cayman Ltd., (Cayman Islands), | ||||||||
8.00%, 09/20/2025 (e) | 575 | 575 | ||||||
United Airlines Pass Through Trust, | ||||||||
Series 20-1, Class A, 5.88%, 10/15/2027 | 197 | 196 | ||||||
Series 20-1, Class B, 4.88%, 01/15/2026 | 39 | 37 | ||||||
United Airlines, Inc., | ||||||||
4.38%, 04/15/2026 (e) | 2,597 | 2,401 | ||||||
4.63%, 04/15/2029 (e) | 6,130 | 5,288 | ||||||
VistaJet Malta Finance PLC / Vista Management Holding, Inc., (Multinational), | ||||||||
6.38%, 02/01/2030 (e) | 1,150 | 888 | ||||||
7.88%, 05/01/2027 (e) | 1,754 | 1,511 | ||||||
9.50%, 06/01/2028 (e) | 475 | 417 | ||||||
|
|
|||||||
32,662 | ||||||||
|
|
|||||||
Apparel 0.2% | ||||||||
Crocs, Inc., | ||||||||
4.13%, 08/15/2031 (e) | 163 | 126 | ||||||
4.25%, 03/15/2029 (e) | 1,111 | 919 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Apparel continued | ||||||||
Hanesbrands, Inc., | ||||||||
4.88%, 05/15/2026 (e) | 648 | 594 | ||||||
9.00%, 02/15/2031 (e) | 675 | 643 | ||||||
Kontoor Brands, Inc., 4.13%, 11/15/2029 (e) | 500 | 413 | ||||||
Levi Strauss & Co., 3.50%, 03/01/2031 (e) | 1,480 | 1,173 | ||||||
PVH Corp., 4.63%, 07/10/2025 | 190 | 184 | ||||||
Wolverine World Wide, Inc., 4.00%, 08/15/2029 (e) | 2,875 | 2,130 | ||||||
|
|
|||||||
6,182 | ||||||||
|
|
|||||||
Auto Manufacturers 1.9% | ||||||||
Allison Transmission, Inc., 3.75%, 01/30/2031 (e) | 700 | 566 | ||||||
Daimler Truck Finance North America LLC, 5.60%, 08/08/2025 (e) | 503 | 500 | ||||||
Ford Motor Co., | ||||||||
3.25%, 02/12/2032 | 3,127 | 2,410 | ||||||
4.75%, 01/15/2043 | 5,723 | 4,177 | ||||||
5.29%, 12/08/2046 | 1,155 | 878 | ||||||
6.10%, 08/19/2032 | 1,273 | 1,199 | ||||||
7.40%, 11/01/2046 | 1,275 | 1,279 | ||||||
Ford Motor Credit Co. LLC, | ||||||||
2.30%, 02/10/2025 | 200 | 187 | ||||||
2.70%, 08/10/2026 | 3,406 | 3,038 | ||||||
3.38%, 11/13/2025 | 400 | 372 | ||||||
4.00%, 11/13/2030 | 1,100 | 919 | ||||||
4.13%, 08/04/2025 | 597 | 566 | ||||||
4.27%, 01/09/2027 | 2,500 | 2,309 | ||||||
4.39%, 01/08/2026 | 908 | 857 | ||||||
4.54%, 03/06/2025 | GBP | 287 | 336 | |||||
4.95%, 05/28/2027 | 3,820 | 3,580 | ||||||
5.11%, 05/03/2029 | 3,253 | 2,977 | ||||||
5.13%, 06/16/2025 | 4,896 | 4,738 | ||||||
5.58%, 03/18/2024 | 1,079 | 1,072 | ||||||
6.80%, 05/12/2028 | 200 | 200 | ||||||
6.95%, 03/06/2026 | 1,100 | 1,098 | ||||||
6.95%, 06/10/2026 | 600 | 599 | ||||||
7.20%, 06/10/2030 | 3,200 | 3,216 | ||||||
7.35%, 11/04/2027 | 400 | 406 | ||||||
7.35%, 03/06/2030 | 2,351 | 2,381 | ||||||
General Motors Financial Co., Inc., | ||||||||
2.75%, 06/20/2025 | 1,000 | 942 | ||||||
5.40%, 04/06/2026 | 95 | 93 | ||||||
Series C, (CMT Index 5 Year + 5.00%), 5.70%, 09/30/2030 (x) (aa) | 5 | 4 | ||||||
Hyundai Capital America, | ||||||||
0.80%, 01/08/2024 (e) | 500 | 493 | ||||||
5.65%, 06/26/2026 (e) | 156 | 154 | ||||||
5.95%, 09/21/2026 (e) | 4,078 | 4,067 | ||||||
6.10%, 09/21/2028 (e) | 178 | 177 | ||||||
Jaguar Land Rover Automotive plc, (United Kingdom), | ||||||||
Reg. S, 4.50%, 07/15/2028 | EUR | 100 | 92 | |||||
Reg. S, 5.88%, 01/15/2028 | 250 | 225 | ||||||
Nissan Motor Co. Ltd., (Japan), 4.81%, 09/17/2030 (e) | 1,175 | 1,013 | ||||||
PM General Purchaser LLC, 9.50%, 10/01/2028 (e) | 2,510 | 2,334 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Auto Manufacturers continued | ||||||||
RCI Banque SA, (France), Reg. S, (EUR Swap Rate 5 Year + 2.85%), 2.63%, 02/18/2030 (aa) | EUR | 600 | 595 | |||||
TML Holdings Pte Ltd., (Singapore), | ||||||||
Reg. S, 4.35%, 06/09/2026 | 6,650 | 6,078 | ||||||
Reg. S, 5.50%, 06/03/2024 | 3,200 | 3,149 | ||||||
Volkswagen Group of America Finance LLC, | ||||||||
5.70%, 09/12/2026 (e) | 222 | 221 | ||||||
5.80%, 09/12/2025 (e) | 281 | 280 | ||||||
Wabash National Corp., 4.50%, 10/15/2028 (e) | 76 | 64 | ||||||
|
|
|||||||
59,841 | ||||||||
|
|
|||||||
Auto Parts & Equipment 1.0% | ||||||||
Adient Global Holdings Ltd., (Jersey), | ||||||||
Reg. S, 3.50%, 08/15/2024 | EUR | 15 | 16 | |||||
4.88%, 08/15/2026 (e) | 2,325 | 2,193 | ||||||
7.00%, 04/15/2028 (e) | 575 | 570 | ||||||
American Axle & Manufacturing, Inc., 6.50%, 04/01/2027 | 1,275 | 1,211 | ||||||
Clarios Global LP / Clarios US Finance Co., (Multinational), | ||||||||
Reg. S, 4.38%, 05/15/2026 | EUR | 1,262 | 1,281 | |||||
6.25%, 05/15/2026 (e) | 3,604 | 3,533 | ||||||
6.75%, 05/15/2028 (e) | 3,608 | 3,522 | ||||||
8.50%, 05/15/2027 (e) | 11,116 | 11,084 | ||||||
Clarios Global LP, (Canada), 6.75%, 05/15/2025 (e) | 1,204 | 1,195 | ||||||
Dana Financing Luxembourg Sarl, (Luxembourg), | ||||||||
5.75%, 04/15/2025 (e) | 74 | 72 | ||||||
Reg. S, 8.50%, 07/15/2031 | EUR | 137 | 147 | |||||
Dana, Inc., | ||||||||
4.25%, 09/01/2030 | 500 | 401 | ||||||
4.50%, 02/15/2032 | 575 | 445 | ||||||
5.38%, 11/15/2027 | 275 | 255 | ||||||
5.63%, 06/15/2028 | 700 | 641 | ||||||
Dealer Tire LLC / DT Issuer LLC, 8.00%, 02/01/2028 (e) | 186 | 174 | ||||||
Forvia SE, (France), | ||||||||
Reg. S, 2.75%, 02/15/2027 | EUR | 185 | 176 | |||||
Reg. S, 7.25%, 06/15/2026 | EUR | 150 | 164 | |||||
Goodyear Tire & Rubber Co. (The), | ||||||||
5.00%, 07/15/2029 | 678 | 584 | ||||||
5.63%, 04/30/2033 | 406 | 332 | ||||||
Grupo Antolin-Irausa SA, (Spain), Reg. S, 3.50%, 04/30/2028 | EUR | 100 | 72 | |||||
IHO Verwaltungs GmbH, (Germany), Reg. S, 8.75% (cash), 05/15/2028 (v) | EUR | 128 | 140 | |||||
Tenneco, Inc., 8.00%, 11/17/2028 (e) | 1,475 | 1,200 | ||||||
Titan International, Inc., 7.00%, 04/30/2028 | 1,025 | 958 | ||||||
ZF Europe Finance BV, (Netherlands), | ||||||||
Reg. S, 2.00%, 02/23/2026 | EUR | 300 | 290 | |||||
Reg. S, 6.13%, 03/13/2029 | EUR | 200 | 211 | |||||
ZF Finance GmbH, (Germany), Reg. S, 5.75%, 08/03/2026 | EUR | 100 | 105 | |||||
|
|
|||||||
30,972 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Distribution/Wholesale 0.2% | ||||||||
American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/2029 (e) | 45 | 38 | ||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/2027 (e) | 1,763 | 1,674 | ||||||
H&E Equipment Services, Inc., 3.88%, 12/15/2028 (e) | 3,250 | 2,775 | ||||||
LKQ Corp., 5.75%, 06/15/2028 (e) | 106 | 104 | ||||||
Resideo Funding, Inc., 4.00%, 09/01/2029 (e) | 218 | 179 | ||||||
Rexel SA, (France), Reg. S, 5.25%, 09/15/2030 | EUR | 100 | 104 | |||||
Ritchie Bros Holdings, Inc., | ||||||||
6.75%, 03/15/2028 (e) | 552 | 551 | ||||||
7.75%, 03/15/2031 (e) | 650 | 660 | ||||||
Windsor Holdings III LLC, 8.50%, 06/15/2030 (e) | 1,100 | 1,085 | ||||||
|
|
|||||||
7,170 | ||||||||
|
|
|||||||
Entertainment 2.4% | ||||||||
Allwyn Entertainment Financing UK plc, (United Kingdom), | ||||||||
7.25%, 04/30/2030 | EUR | 132 | 141 | |||||
7.88%, 04/30/2029 (e) | 666 | 673 | ||||||
Banijay Entertainment SASU, (France), | ||||||||
Reg. S, 7.00%, 05/01/2029 | EUR | 125 | 131 | |||||
8.13%, 05/01/2029 (e) | 410 | 407 | ||||||
Boyne USA, Inc., 4.75%, 05/15/2029 (e) | 2,344 | 2,050 | ||||||
Caesars Entertainment, Inc., | ||||||||
4.63%, 10/15/2029 (e) | 5,742 | 4,864 | ||||||
6.25%, 07/01/2025 (e) | 4,521 | 4,462 | ||||||
7.00%, 02/15/2030 (e) | 7,209 | 7,014 | ||||||
8.13%, 07/01/2027 (e) | 4,743 | 4,766 | ||||||
CCM Merger, Inc., 6.38%, 05/01/2026 (e) | 1,245 | 1,191 | ||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/2030 (e) | 4,295 | 3,880 | ||||||
Cedar Fair LP / Canadas Wonderland Co. / Magnum Management Corp. / Millennium Op, | ||||||||
5.38%, 04/15/2027 | 242 | 227 | ||||||
5.50%, 05/01/2025 (e) | 1,811 | 1,773 | ||||||
6.50%, 10/01/2028 | 3 | 3 | ||||||
Churchill Downs, Inc., | ||||||||
4.75%, 01/15/2028 (e) | 2,222 | 2,004 | ||||||
5.50%, 04/01/2027 (e) | 387 | 369 | ||||||
6.75%, 05/01/2031 (e) | 2,419 | 2,286 | ||||||
Cirsa Finance International Sarl, (Luxembourg), | ||||||||
Reg. S, 4.75%, 05/22/2025 | EUR | 100 | 104 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 4.50%), 8.19%, 07/31/2028 (aa) | EUR | 100 | 106 | |||||
CPUK Finance Ltd., (Jersey), Reg. S, 4.88%, 08/28/2025 | GBP | 100 | 116 | |||||
Everi Holdings, Inc., 5.00%, 07/15/2029 (e) | 100 | 86 | ||||||
Golden Entertainment, Inc., 7.63%, 04/15/2026 (e) | 1,829 | 1,825 | ||||||
Inter Media and Communication SpA, (Italy), Reg. S, 6.75%, 02/09/2027 | EUR | 200 | 202 | |||||
International Game Technology plc, (United Kingdom), 5.25%, 01/15/2029 (e) | 855 | 786 | ||||||
Jacobs Entertainment, Inc., 6.75%, 02/15/2029 (e) | 1,775 | 1,575 | ||||||
LHMC Finco 2 Sarl, (Luxembourg), Reg. S, 7.25% (cash), 10/02/2025 (v) | EUR | 100 | 103 | |||||
Light & Wonder International, Inc., | ||||||||
7.00%, 05/15/2028 (e) | 1,196 | 1,175 | ||||||
7.25%, 11/15/2029 (e) | 500 | 490 | ||||||
7.50%, 09/01/2031 (e) | 1,310 | 1,295 | ||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/2029 (e) | 1,573 | 1,036 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Entertainment continued | ||||||||
Live Nation Entertainment, Inc., | ||||||||
3.75%, 01/15/2028 (e) | 410 | 363 | ||||||
4.75%, 10/15/2027 (e) | 2,153 | 1,971 | ||||||
4.88%, 11/01/2024 (e) | 33 | 33 | ||||||
5.63%, 03/15/2026 (e) | 78 | 75 | ||||||
6.50%, 05/15/2027 (e) | 5,615 | 5,536 | ||||||
Lottomatica SpA, (Italy), Reg. S, 9.75%, 09/30/2027 | EUR | 123 | 140 | |||||
Merlin Entertainments Ltd., (United Kingdom), 5.75%, 06/15/2026 (e) | 1,555 | 1,486 | ||||||
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp., 4.88%, 05/01/2029 (e) | 1,456 | 1,238 | ||||||
Motion Bondco DAC, (Ireland), 6.63%, 11/15/2027 (e) | 707 | 654 | ||||||
Odeon Finco plc, (United Kingdom), 12.75%, 11/01/2027 (e) | 313 | 311 | ||||||
Ontario Gaming GTA LP, (Canada), 8.00%, 08/01/2030 (e) | 728 | 728 | ||||||
Penn Entertainment, Inc., | ||||||||
4.13%, 07/01/2029 (e) | 2,200 | 1,798 | ||||||
5.63%, 01/15/2027 (e) | 2,264 | 2,129 | ||||||
Pinewood Finance Co. Ltd., (United Kingdom), Reg. S, 3.63%, 11/15/2027 | GBP | 100 | 106 | |||||
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.88%, 09/01/2031 (e) | 1,591 | 1,177 | ||||||
Scientific Games Holdings LP / Scientific Games US FinCo., Inc., 6.63%, 03/01/2030 (e) | 1,287 | 1,110 | ||||||
Six Flags Entertainment Corp., 7.25%, 05/15/2031 (e) | 3,057 | 2,870 | ||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/2025 (e) | 958 | 956 | ||||||
Warnermedia Holdings, Inc., | ||||||||
3.79%, 03/15/2025 | 112 | 108 | ||||||
5.14%, 03/15/2052 | 2,847 | 2,112 | ||||||
5.39%, 03/15/2062 | 1,168 | 863 | ||||||
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., | ||||||||
5.13%, 10/01/2029 (e) | 4,872 | 4,259 | ||||||
7.13%, 02/15/2031 (e) | 1,655 | 1,570 | ||||||
|
|
|||||||
76,733 | ||||||||
|
|
|||||||
Food Service 0.1% | ||||||||
Aramark International Finance Sarl, (Luxembourg), Reg. S, 3.13%, 04/01/2025 | EUR | 693 | 719 | |||||
Aramark Services, Inc., | ||||||||
5.00%, 04/01/2025 (e) | 406 | 399 | ||||||
5.00%, 02/01/2028 (e) | 2,705 | 2,502 | ||||||
6.38%, 05/01/2025 (e) | 1,007 | 1,023 | ||||||
Elior Group SA, (France), Reg. S, 3.75%, 07/15/2026 | EUR | 100 | 83 | |||||
|
|
|||||||
4,726 | ||||||||
|
|
|||||||
Home Builders 1.2% | ||||||||
Adams Homes, Inc., 9.25%, 10/15/2028 (e) (w) | 800 | 799 | ||||||
Ashton Woods USA LLC / Ashton Woods Finance Co., | ||||||||
4.63%, 08/01/2029 (e) | 1,108 | 935 | ||||||
4.63%, 04/01/2030 (e) | 500 | 410 | ||||||
6.63%, 01/15/2028 (e) | 950 | 896 | ||||||
Beazer Homes USA, Inc., | ||||||||
5.88%, 10/15/2027 | 5,850 | 5,355 | ||||||
6.75%, 03/15/2025 | 1,330 | 1,328 | ||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC, (Canada), | ||||||||
4.88%, 02/15/2030 (e) | 4,143 | 3,370 | ||||||
5.00%, 06/15/2029 (e) | 1,586 | 1,305 | ||||||
6.25%, 09/15/2027 (e) | 1,550 | 1,396 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Home Builders continued | ||||||||
Century Communities, Inc., 6.75%, 06/01/2027 | 1,125 | 1,105 | ||||||
Dream Finders Homes, Inc., 8.25%, 08/15/2028 (e) | 517 | 518 | ||||||
Empire Communities Corp., (Canada), 7.00%, 12/15/2025 (e) | 225 | 214 | ||||||
Forestar Group, Inc., | ||||||||
3.85%, 05/15/2026 (e) | 650 | 590 | ||||||
5.00%, 03/01/2028 (e) | 1,475 | 1,324 | ||||||
KB Home, | ||||||||
4.00%, 06/15/2031 | 500 | 403 | ||||||
4.80%, 11/15/2029 | 2,000 | 1,760 | ||||||
6.88%, 06/15/2027 | 698 | 698 | ||||||
7.25%, 07/15/2030 | 600 | 590 | ||||||
M/I Homes, Inc., 4.95%, 02/01/2028 | 1,218 | 1,098 | ||||||
Mattamy Group Corp., (Canada), | ||||||||
4.63%, 03/01/2030 (e) | 1,580 | 1,345 | ||||||
5.25%, 12/15/2027 (e) | 4,422 | 4,035 | ||||||
Meritage Homes Corp., 5.13%, 06/06/2027 | 653 | 615 | ||||||
Shea Homes LP / Shea Homes Funding Corp., | ||||||||
4.75%, 02/15/2028 | 3,025 | 2,712 | ||||||
4.75%, 04/01/2029 | 450 | 391 | ||||||
STL Holding Co. LLC, 7.50%, 02/15/2026 (e) | 1,715 | 1,586 | ||||||
Taylor Morrison Communities, Inc., | ||||||||
5.13%, 08/01/2030 (e) | 1,421 | 1,241 | ||||||
5.75%, 01/15/2028 (e) | 700 | 652 | ||||||
5.88%, 06/15/2027 (e) | 1,890 | 1,797 | ||||||
Tri Pointe Homes, Inc., | ||||||||
5.25%, 06/01/2027 | 450 | 421 | ||||||
5.70%, 06/15/2028 | 1,601 | 1,469 | ||||||
|
|
|||||||
40,358 | ||||||||
|
|
|||||||
Home Furnishings 0.0% (g) | ||||||||
Tempur Sealy International, Inc., | ||||||||
3.88%, 10/15/2031 (e) | 398 | 307 | ||||||
4.00%, 04/15/2029 (e) | 1,449 | 1,209 | ||||||
|
|
|||||||
1,516 | ||||||||
|
|
|||||||
Housewares 0.3% | ||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/2025 (e) | 1,230 | 1,185 | ||||||
Scotts Miracle-Gro Co. (The), | ||||||||
4.00%, 04/01/2031 | 2,341 | 1,788 | ||||||
4.38%, 02/01/2032 | 1,000 | 756 | ||||||
4.50%, 10/15/2029 | 800 | 654 | ||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/2029 (e) | 6,687 | 4,278 | ||||||
|
|
|||||||
8,661 | ||||||||
|
|
|||||||
Leisure Time 2.1% | ||||||||
Acushnet Co., 7.38%, 10/15/2028 (e) (w) | 396 | 399 | ||||||
Carnival Corp., (Panama), | ||||||||
4.00%, 08/01/2028 (e) | 1,988 | 1,724 | ||||||
5.75%, 03/01/2027 (e) | 7,377 | 6,676 | ||||||
6.00%, 05/01/2029 (e) | 5,132 | 4,367 | ||||||
7.00%, 08/15/2029 (e) | 1,144 | 1,128 | ||||||
7.63%, 03/01/2026 (e) | 2,711 | 2,637 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Leisure Time continued | ||||||||
Reg. S, 7.63%, 03/01/2026 | EUR | 203 | 210 | |||||
9.88%, 08/01/2027 (e) | 1,256 | 1,311 | ||||||
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/2028 (e) | 11,354 | 12,172 | ||||||
Carnival plc, (United Kingdom), 1.00%, 10/28/2029 | EUR | 100 | 67 | |||||
Life Time, Inc., | ||||||||
5.75%, 01/15/2026 (e) | 2,136 | 2,070 | ||||||
8.00%, 04/15/2026 (e) | 897 | 881 | ||||||
Lindblad Expeditions Holdings, Inc., 9.00%, 05/15/2028 (e) | 2,117 | 2,112 | ||||||
Lindblad Expeditions LLC, 6.75%, 02/15/2027 (e) | 1,385 | 1,297 | ||||||
MajorDrive Holdings IV LLC, 6.38%, 06/01/2029 (e) | 74 | 61 | ||||||
NCL Corp. Ltd., (Bermuda), | ||||||||
5.88%, 03/15/2026 (e) | 2,655 | 2,451 | ||||||
5.88%, 02/15/2027 (e) | 950 | 903 | ||||||
7.75%, 02/15/2029 (e) | 1,269 | 1,177 | ||||||
8.38%, 02/01/2028 (e) | 2,042 | 2,071 | ||||||
NCL Finance Ltd., (Bermuda), 6.13%, 03/15/2028 (e) | 1,262 | 1,114 | ||||||
Royal Caribbean Cruises Ltd., (Liberia), | ||||||||
4.25%, 07/01/2026 (e) | 589 | 540 | ||||||
5.38%, 07/15/2027 (e) | 1,235 | 1,143 | ||||||
5.50%, 08/31/2026 (e) | 949 | 897 | ||||||
5.50%, 04/01/2028 (e) | 316 | 290 | ||||||
7.25%, 01/15/2030 (e) | 3,269 | 3,240 | ||||||
8.25%, 01/15/2029 (e) | 1,375 | 1,427 | ||||||
9.25%, 01/15/2029 (e) | 2,964 | 3,131 | ||||||
11.63%, 08/15/2027 (e) | 2,143 | 2,325 | ||||||
TUI Cruises GmbH, (Germany), Reg. S, 6.50%, 05/15/2026 | EUR | 100 | 99 | |||||
Viking Cruises Ltd., (Bermuda), | ||||||||
5.88%, 09/15/2027 (e) | 2,488 | 2,271 | ||||||
6.25%, 05/15/2025 (e) | 500 | 489 | ||||||
7.00%, 02/15/2029 (e) | 230 | 212 | ||||||
9.13%, 07/15/2031 (e) | 3,427 | 3,434 | ||||||
Viking Ocean Cruises Ship VII Ltd., (Bermuda), 5.63%, 02/15/2029 (e) | 2,234 | 2,022 | ||||||
|
|
|||||||
66,348 | ||||||||
|
|
|||||||
Lodging 4.2% | ||||||||
Accor SA, (France), Reg. S, (EUR Swap Rate 5 Year + 4.56%), 4.38%, 01/31/2024 (x) (aa) | EUR | 200 | 209 | |||||
Boyd Gaming Corp., 4.75%, 06/15/2031 (e) | 1,096 | 933 | ||||||
Champion Path Holdings Ltd., (British Virgin Islands), | ||||||||
Reg. S, 4.50%, 01/27/2026 | 6,752 | 5,949 | ||||||
Reg. S, 4.85%, 01/27/2028 | 2,900 | 2,334 | ||||||
Fortune Star BVI Ltd., (British Virgin Islands), | ||||||||
Reg. S, 5.00%, 05/18/2026 | 5,000 | 3,479 | ||||||
Reg. S, 5.05%, 01/27/2027 | 3,100 | 1,987 | ||||||
Reg. S, 5.95%, 10/19/2025 | 8,100 | 6,316 | ||||||
Reg. S, 6.85%, 07/02/2024 | 3,000 | 2,745 | ||||||
Genting New York LLC / GENNY Capital, Inc., 3.30%, 02/15/2026 (e) | 270 | 241 | ||||||
Hilton Domestic Operating Co., Inc., | ||||||||
3.63%, 02/15/2032 (e) | 1,973 | 1,591 | ||||||
3.75%, 05/01/2029 (e) | 835 | 723 | ||||||
4.00%, 05/01/2031 (e) | 245 | 206 | ||||||
4.88%, 01/15/2030 | 846 | 771 | ||||||
5.75%, 05/01/2028 (e) | 858 | 829 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Lodging continued | ||||||||
Las Vegas Sands Corp., 3.90%, 08/08/2029 | 18 | 15 | ||||||
Melco Resorts Finance Ltd., (Cayman Islands), | ||||||||
4.88%, 06/06/2025 (e) | 1,100 | 1,039 | ||||||
Reg. S, 4.88%, 06/06/2025 | 5,580 | 5,269 | ||||||
5.38%, 12/04/2029 (e) | 2,000 | 1,640 | ||||||
Reg. S, 5.38%, 12/04/2029 | 2,000 | 1,640 | ||||||
Reg. S, 5.63%, 07/17/2027 | 1,800 | 1,609 | ||||||
5.75%, 07/21/2028 (e) | 600 | 523 | ||||||
Reg. S, 5.75%, 07/21/2028 | 18,950 | 16,528 | ||||||
MGM China Holdings Ltd., (Cayman Islands), | ||||||||
4.75%, 02/01/2027 (e) | 350 | 314 | ||||||
Reg. S, 4.75%, 02/01/2027 | 2,800 | 2,513 | ||||||
5.25%, 06/18/2025 (e) | 2,200 | 2,101 | ||||||
Reg. S, 5.25%, 06/18/2025 | 6,170 | 5,893 | ||||||
5.38%, 05/15/2024 (e) | 200 | 197 | ||||||
5.88%, 05/15/2026 (e) | 200 | 190 | ||||||
Reg. S, 5.88%, 05/15/2026 | 500 | 476 | ||||||
MGM Resorts International, | ||||||||
4.63%, 09/01/2026 | 750 | 700 | ||||||
4.75%, 10/15/2028 | 2,826 | 2,489 | ||||||
5.50%, 04/15/2027 | 650 | 608 | ||||||
5.75%, 06/15/2025 | 475 | 464 | ||||||
6.75%, 05/01/2025 | 350 | 348 | ||||||
Sands China Ltd., (Cayman Islands), | ||||||||
2.55%, 03/08/2027 | 5,800 | 5,032 | ||||||
5.65%, 08/08/2028 | 6,000 | 5,647 | ||||||
Station Casinos LLC, | ||||||||
4.50%, 02/15/2028 (e) | 1,578 | 1,377 | ||||||
4.63%, 12/01/2031 (e) | 588 | 470 | ||||||
Studio City Co. Ltd., (British Virgin Islands), Reg. S, 7.00%, 02/15/2027 | 3,300 | 3,112 | ||||||
Studio City Finance Ltd., (British Virgin Islands), | ||||||||
Reg. S, 5.00%, 01/15/2029 | 1,200 | 904 | ||||||
Reg. S, 6.00%, 07/15/2025 | 8,883 | 8,454 | ||||||
Reg. S, 6.50%, 01/15/2028 | 1,100 | 932 | ||||||
Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp., 5.88%, 05/15/2025 (e) | 1,300 | 1,254 | ||||||
Wynn Macau Ltd., (Cayman Islands), | ||||||||
Reg. S, 4.88%, 10/01/2024 | 2,000 | 1,948 | ||||||
Reg. S, 5.13%, 12/15/2029 | 650 | 536 | ||||||
5.50%, 01/15/2026 (e) | 1,214 | 1,135 | ||||||
Reg. S, 5.50%, 01/15/2026 | 18,150 | 16,965 | ||||||
5.50%, 10/01/2027 (e) | 1,530 | 1,365 | ||||||
Reg. S, 5.50%, 10/01/2027 | 3,400 | 3,033 | ||||||
5.63%, 08/26/2028 (e) | 5,710 | 4,950 | ||||||
Reg. S, 5.63%, 08/26/2028 | 3,900 | 3,381 | ||||||
|
|
|||||||
133,364 | ||||||||
|
|
|||||||
Retail 2.2% | ||||||||
1011778 BC ULC / New Red Finance, Inc., (Canada), | ||||||||
3.50%, 02/15/2029 (e) | 1,500 | 1,284 | ||||||
3.88%, 01/15/2028 (e) | 240 | 215 | ||||||
4.00%, 10/15/2030 (e) | 2,043 | 1,695 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Retail continued | ||||||||
4.38%, 01/15/2028 (e) | 767 | 691 | ||||||
5.75%, 04/15/2025 (e) | 77 | 77 | ||||||
7-Eleven, Inc., 0.80%, 02/10/2024 (e) | 425 | 417 | ||||||
Arko Corp., 5.13%, 11/15/2029 (e) | 1,659 | 1,338 | ||||||
Asbury Automotive Group, Inc., | ||||||||
4.75%, 03/01/2030 | 3 | 3 | ||||||
5.00%, 02/15/2032 (e) | 793 | 657 | ||||||
At Home Group, Inc., | ||||||||
4.88%, 07/15/2028 (e) | 300 | 127 | ||||||
7.13%, 07/15/2029 (e) | 607 | 164 | ||||||
BCPE Ulysses Intermediate, Inc., 7.75% (cash), 04/01/2027 (e) (v) | 275 | 239 | ||||||
Beacon Roofing Supply, Inc., | ||||||||
4.13%, 05/15/2029 (e) | 935 | 799 | ||||||
6.50%, 08/01/2030 (e) | 1,504 | 1,458 | ||||||
Brinker International, Inc., | ||||||||
5.00%, 10/01/2024 (e) | 625 | 610 | ||||||
8.25%, 07/15/2030 (e) | 1,675 | 1,612 | ||||||
Burger King France SAS, (France), Reg. S, (ICE LIBOR EUR 3 Month + 4.75%), 8.48%, 11/01/2026 (aa) | EUR | 300 | 317 | |||||
Carrols Restaurant Group, Inc., 5.88%, 07/01/2029 (e) | 975 | 819 | ||||||
Constellation Automotive Financing plc, (United Kingdom), Reg. S, 4.88%, 07/15/2027 | GBP | 100 | 93 | |||||
eG Global Finance plc, (United Kingdom), | ||||||||
Reg. S, 4.38%, 02/07/2025 | EUR | 853 | 871 | |||||
Reg. S, 6.25%, 10/30/2025 | EUR | 1,420 | 1,457 | |||||
6.75%, 02/07/2025 (e) | 2,177 | 2,139 | ||||||
8.50%, 10/30/2025 (e) | 1,634 | 1,613 | ||||||
Ferrellgas LP / Ferrellgas Finance Corp., | ||||||||
5.38%, 04/01/2026 (e) | 300 | 281 | ||||||
5.88%, 04/01/2029 (e) | 335 | 301 | ||||||
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., | ||||||||
4.63%, 01/15/2029 (e) | 985 | 835 | ||||||
6.75%, 01/15/2030 (e) | 3,962 | 3,229 | ||||||
Foundation Building Materials, Inc., 6.00%, 03/01/2029 (e) | 2,734 | 2,275 | ||||||
Gap, Inc. (The), | ||||||||
3.63%, 10/01/2029 (e) | 875 | 648 | ||||||
3.88%, 10/01/2031 (e) | 2,030 | 1,426 | ||||||
Goldstory SAS, (France), Reg. S, 5.38%, 03/01/2026 | EUR | 200 | 205 | |||||
GYP Holdings III Corp., 4.63%, 05/01/2029 (e) | 1,502 | 1,294 | ||||||
Jollibee Worldwide Pte Ltd., (Singapore), Reg. S, 4.13%, 01/24/2026 | 4,200 | 4,024 | ||||||
Ken Garff Automotive LLC, 4.88%, 09/15/2028 (e) | 3 | 3 | ||||||
LBM Acquisition LLC, 6.25%, 01/15/2029 (e) | 2,100 | 1,722 | ||||||
LCM Investments Holdings II LLC, | ||||||||
4.88%, 05/01/2029 (e) | 3,490 | 2,967 | ||||||
8.25%, 08/01/2031 (e) | 1,764 | 1,711 | ||||||
Lithia Motors, Inc., 3.88%, 06/01/2029 (e) | 13 | 11 | ||||||
LS Finance 2017 Ltd., (British Virgin Islands), Reg. S, 4.80%, 06/18/2026 | 200 | 147 | ||||||
NMG Holding Co., Inc. / Neiman Marcus Group LLC, 7.13%, 04/01/2026 (e) | 579 | 543 | ||||||
Park River Holdings, Inc., | ||||||||
5.63%, 02/01/2029 (e) | 2,900 | 2,211 | ||||||
6.75%, 08/01/2029 (e) | 550 | 435 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Retail continued | ||||||||
Patrick Industries, Inc., | ||||||||
4.75%, 05/01/2029 (e) | 825 | 686 | ||||||
7.50%, 10/15/2027 (e) | 60 | 58 | ||||||
PetSmart, Inc. / PetSmart Finance Corp., | ||||||||
4.75%, 02/15/2028 (e) | 250 | 219 | ||||||
7.75%, 02/15/2029 (e) | 2,955 | 2,753 | ||||||
Sally Holdings LLC / Sally Capital, Inc., 5.63%, 12/01/2025 | 2,675 | 2,607 | ||||||
Sizzling Platter LLC / Sizzling Platter Finance Corp., 8.50%, 11/28/2025 (e) | 225 | 224 | ||||||
SRS Distribution, Inc., | ||||||||
4.63%, 07/01/2028 (e) | 2,625 | 2,268 | ||||||
6.00%, 12/01/2029 (e) | 3,520 | 2,957 | ||||||
6.13%, 07/01/2029 (e) | 4,314 | 3,674 | ||||||
Staples, Inc., 7.50%, 04/15/2026 (e) | 564 | 464 | ||||||
Stonegate Pub Co. Financing 2019 plc, (United Kingdom), Reg. S, 8.00%, 07/13/2025 | GBP | 150 | 170 | |||||
Suburban Propane Partners LP / Suburban Energy Finance Corp., | ||||||||
5.00%, 06/01/2031 (e) | 2,950 | 2,463 | ||||||
5.88%, 03/01/2027 | 725 | 692 | ||||||
Superior Plus LP / Superior General Partner, Inc., (Canada), 4.50%, 03/15/2029 (e) | 2,081 | 1,808 | ||||||
White Cap Buyer LLC, 6.88%, 10/15/2028 (e) | 6,807 | 6,010 | ||||||
White Cap Parent LLC, 8.25% (cash), 03/15/2026 (e) (v) | 1,350 | 1,303 | ||||||
|
|
|||||||
71,319 | ||||||||
|
|
|||||||
Storage/Warehousing 0.1% | ||||||||
GLP China Holdings Ltd., (Hong Kong), Reg. S, 2.95%, 03/29/2026 | 3,050 | 1,908 | ||||||
|
|
|||||||
Toys/Games/Hobbies 0.0% (g) | ||||||||
Mattel, Inc., 5.45%, 11/01/2041 | 1,867 | 1,541 | ||||||
|
|
|||||||
Total Consumer Cyclical | 543,301 | |||||||
|
|
|||||||
Consumer Non-cyclical 10.6% | ||||||||
Agriculture 0.2% | ||||||||
BAT Capital Corp., | ||||||||
3.22%, 08/15/2024 | 190 | 185 | ||||||
3.56%, 08/15/2027 | 68 | 62 | ||||||
4.70%, 04/02/2027 | 274 | 263 | ||||||
BAT International Finance plc, (United Kingdom), 5.93%, 02/02/2029 | 142 | 139 | ||||||
Darling Ingredients, Inc., 6.00%, 06/15/2030 (e) | 2,720 | 2,578 | ||||||
Imperial Brands Finance plc, (United Kingdom), | ||||||||
3.13%, 07/26/2024 (e) | 643 | 627 | ||||||
6.13%, 07/27/2027 (e) | 855 | 853 | ||||||
Philip Morris International, Inc., 5.13%, 11/17/2027 | 193 | 189 | ||||||
Reynolds American, Inc., 4.45%, 06/12/2025 | 175 | 170 | ||||||
Tereos Finance Groupe I SA, (France), Reg. S, 7.25%, 04/15/2028 | EUR | 175 | 189 | |||||
Vector Group Ltd., 5.75%, 02/01/2029 (e) | 2,325 | 1,976 | ||||||
Viterra Finance BV, (Netherlands), 2.00%, 04/21/2026 (e) | 700 | 631 | ||||||
|
|
|||||||
7,862 | ||||||||
|
|
|||||||
Biotechnology 0.0% (g) | ||||||||
Amgen, Inc., | ||||||||
5.15%, 03/02/2028 | 241 | 237 | ||||||
5.25%, 03/02/2025 | 123 | 122 | ||||||
5.51%, 03/02/2026 | 241 | 240 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Biotechnology continued | ||||||||
Cidron Aida Finco Sarl, (Luxembourg), Reg. S, 6.25%, 04/01/2028 | GBP | 100 | 107 | |||||
Illumina, Inc., | ||||||||
5.75%, 12/13/2027 | 151 | 148 | ||||||
5.80%, 12/12/2025 | 38 | 38 | ||||||
|
|
|||||||
892 | ||||||||
|
|
|||||||
Commercial Services 4.1% | ||||||||
Adani Ports & Special Economic Zone Ltd., (India), 3.38%, 07/24/2024 (e) | 200 | 194 | ||||||
ADT Security Corp. (The), | ||||||||
4.13%, 08/01/2029 (e) | 1,209 | 1,022 | ||||||
4.88%, 07/15/2032 (e) | 298 | 248 | ||||||
Adtalem Global Education, Inc., 5.50%, 03/01/2028 (e) | 1,250 | 1,149 | ||||||
Albion Financing 1 Sarl / Aggreko Holdings, Inc., (Luxembourg), 6.13%, 10/15/2026 (e) | 200 | 188 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp., | ||||||||
6.00%, 06/01/2029 (e) | 7,924 | 5,908 | ||||||
6.63%, 07/15/2026 (e) | 5,991 | 5,677 | ||||||
9.75%, 07/15/2027 (e) | 8,496 | 7,599 | ||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 Sarl, (Multinational), | ||||||||
Reg. S, 3.63%, 06/01/2028 | EUR | 160 | 139 | |||||
4.63%, 06/01/2028 (e) | 9,325 | 7,752 | ||||||
Alta Equipment Group, Inc., 5.63%, 04/15/2026 (e) | 900 | 829 | ||||||
AMN Healthcare, Inc., | ||||||||
4.00%, 04/15/2029 (e) | 450 | 382 | ||||||
4.63%, 10/01/2027 (e) | 874 | 790 | ||||||
APi Group DE, Inc., | ||||||||
4.13%, 07/15/2029 (e) | 1,730 | 1,454 | ||||||
4.75%, 10/15/2029 (e) | 450 | 394 | ||||||
APX Group, Inc., | ||||||||
5.75%, 07/15/2029 (e) | 1,909 | 1,608 | ||||||
6.75%, 02/15/2027 (e) | 154 | 148 | ||||||
Ashtead Capital, Inc., 5.95%, 10/15/2033 (e) | 1,052 | 999 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 4.75%, 04/01/2028 (e) | 1,450 | 1,270 | ||||||
Avis Budget Finance Plc, (Jersey), Reg. S, 4.75%, 01/30/2026 | EUR | 300 | 309 | |||||
BCP V Modular Services Finance II plc, (United Kingdom), | ||||||||
Reg. S, 4.75%, 11/30/2028 | EUR | 100 | 88 | |||||
Reg. S, 6.13%, 11/30/2028 | GBP | 100 | 100 | |||||
Block, Inc., | ||||||||
2.75%, 06/01/2026 | 1,289 | 1,160 | ||||||
3.50%, 06/01/2031 | 6,448 | 5,065 | ||||||
Brinks Co. (The), | ||||||||
4.63%, 10/15/2027 (e) | 1,738 | 1,586 | ||||||
5.50%, 07/15/2025 (e) | 625 | 613 | ||||||
Carriage Services, Inc., 4.25%, 05/15/2029 (e) | 400 | 342 | ||||||
CoreLogic, Inc., 4.50%, 05/01/2028 (e) | 3,361 | 2,554 | ||||||
eHi Car Services Ltd., (Cayman Islands), Reg. S, 7.00%, 09/21/2026 | 4,550 | 2,655 | ||||||
Garda World Security Corp., (Canada), | ||||||||
4.63%, 02/15/2027 (e) | 613 | 561 | ||||||
7.75%, 02/15/2028 (e) | 2,326 | 2,281 | ||||||
9.50%, 11/01/2027 (e) | 304 | 291 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Commercial Services continued | ||||||||
Gartner, Inc., | ||||||||
3.75%, 10/01/2030 (e) | 500 | 420 | ||||||
4.50%, 07/01/2028 (e) | 799 | 729 | ||||||
Global Payments, Inc., | ||||||||
2.65%, 02/15/2025 | 47 | 45 | ||||||
4.45%, 06/01/2028 | 155 | 143 | ||||||
GTCR W-2 Merger Sub LLC, 7.50%, 01/15/2031 (e) (w) | 5,207 | 5,227 | ||||||
Herc Holdings, Inc., 5.50%, 07/15/2027 (e) | 2,927 | 2,768 | ||||||
Hertz Corp. (The), | ||||||||
4.63%, 12/01/2026 (e) | 632 | 560 | ||||||
5.00%, 12/01/2029 (e) | 825 | 646 | ||||||
India Toll Roads, (Mauritius), Reg. S, 5.50%, 08/19/2024 | 7,300 | 7,081 | ||||||
La Financiere Atalian SASU, (France), Reg. S, 5.13%, 05/15/2025 | EUR | 200 | 155 | |||||
Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc., 5.00%, 02/01/2026 (e) |
41 | 40 | ||||||
Metis Merger Sub LLC, 6.50%, 05/15/2029 (e) | 4,085 | 3,451 | ||||||
MPH Acquisition Holdings LLC, 5.50%, 09/01/2028 (e) | 2,000 | 1,699 | ||||||
Neptune Bidco US, Inc., 9.29%, 04/15/2029 (e) | 1,287 | 1,166 | ||||||
NESCO Holdings II, Inc., 5.50%, 04/15/2029 (e) | 2,236 | 1,962 | ||||||
Pelabuhan Indonesia Persero PT, (Indonesia), Reg. S, 4.88%, 10/01/2024 | 4,000 | 3,941 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc., | ||||||||
5.75%, 04/15/2026 (e) | 1,245 | 1,208 | ||||||
6.25%, 01/15/2028 (e) | 2,319 | 2,148 | ||||||
Q-Park Holding I BV, (Netherlands), Reg. S, 1.50%, 03/01/2025 | EUR | 100 | 102 | |||||
Rekeep SpA, (Italy), Reg. S, 7.25%, 02/01/2026 | EUR | 200 | 191 | |||||
Royal Capital BV, (Netherlands), | ||||||||
Reg. S, (CMT Index 5 Year + 5.93%), 4.88%, 05/05/2024 (x) (aa) | 1,131 | 1,110 | ||||||
Reg. S, (CMT Index 5 Year + 7.40%), 5.00%, 02/05/2026 (x) (aa) | 6,150 | 5,935 | ||||||
Sabre GLBL, Inc., 8.63%, 06/01/2027 (e) | 2,235 | 1,900 | ||||||
Service Corp. International, | ||||||||
3.38%, 08/15/2030 | 770 | 621 | ||||||
4.00%, 05/15/2031 | 2,416 | 1,983 | ||||||
Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/2026 (e) | 3,269 | 3,081 | ||||||
Sothebys, 7.38%, 10/15/2027 (e) | 5,938 | 5,466 | ||||||
Sothebys / Bidfair Holdings, Inc., 5.88%, 06/01/2029 (e) | 299 | 240 | ||||||
Techem Verwaltungsgesellschaft 674 mbH, (Germany), Reg. S, 6.00%, 07/30/2026 | EUR | 176 | 180 | |||||
Techem Verwaltungsgesellschaft 675 mbH, (Germany), Reg. S, 2.00%, 07/15/2025 | EUR | 200 | 204 | |||||
Triton Container International Ltd., (Bermuda), | ||||||||
1.15%, 06/07/2024 (e) | 169 | 163 | ||||||
2.05%, 04/15/2026 (e) | 400 | 356 | ||||||
United Rentals North America, Inc., | ||||||||
3.75%, 01/15/2032 | 1,750 | 1,412 | ||||||
3.88%, 02/15/2031 | 895 | 744 | ||||||
4.88%, 01/15/2028 | 2,025 | 1,896 | ||||||
5.25%, 01/15/2030 | 425 | 393 | ||||||
6.00%, 12/15/2029 (e) | 8,302 | 8,082 | ||||||
Verisure Holding AB, (Sweden), Reg. S, 9.25%, 10/15/2027 | EUR | 316 | 354 | |||||
Verscend Escrow Corp., 9.75%, 08/15/2026 (e) | 6,775 | 6,776 | ||||||
VT Topco, Inc., 8.50%, 08/15/2030 (e) | 525 | 520 | ||||||
Williams Scotsman International, Inc., 4.63%, 08/15/2028 (e) | 1,309 | 1,172 | ||||||
|
|
|||||||
131,625 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Cosmetics/Personal Care 0.0% (g) | ||||||||
Coty, Inc., Reg. S, 5.75%, 09/15/2028 | EUR | 100 | 106 | |||||
Coty, Inc. / HFC Prestige Products, Inc. / HFC Prestige International US LLC, | ||||||||
4.75%, 01/15/2029 (e) | 62 | 56 | ||||||
6.63%, 07/15/2030 (e) | 1,167 | 1,141 | ||||||
|
|
|||||||
1,303 | ||||||||
|
|
|||||||
Food 1.8% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, | ||||||||
3.25%, 03/15/2026 (e) | 553 | 512 | ||||||
3.50%, 03/15/2029 (e) | 2,827 | 2,410 | ||||||
4.63%, 01/15/2027 (e) | 453 | 428 | ||||||
4.88%, 02/15/2030 (e) | 1,478 | 1,332 | ||||||
5.88%, 02/15/2028 (e) | 1,259 | 1,212 | ||||||
6.50%, 02/15/2028 (e) | 1,070 | 1,057 | ||||||
B&G Foods, Inc., | ||||||||
5.25%, 04/01/2025 | 1,775 | 1,742 | ||||||
5.25%, 09/15/2027 | 2,271 | 1,898 | ||||||
8.00%, 09/15/2028 (e) | 1,305 | 1,308 | ||||||
Bellis Acquisition Co. plc , (United Kingdom), | ||||||||
Reg. S, 3.25%, 02/16/2026 | GBP | 300 | 318 | |||||
Reg. S, 4.50%, 02/16/2026 | GBP | 263 | 284 | |||||
C&S Group Enterprises LLC, 5.00%, 12/15/2028 (e) | 675 | 513 | ||||||
China Modern Dairy Holdings Ltd., (Cayman Islands), Reg. S, 2.13%, 07/14/2026 | 6,300 | 5,403 | ||||||
Chobani LLC / Chobani Finance Corp., Inc., | ||||||||
4.63%, 11/15/2028 (e) | 4,457 | 3,931 | ||||||
7.50%, 04/15/2025 (e) | 4,479 | 4,437 | ||||||
Conagra Brands, Inc., 5.30%, 10/01/2026 | 134 | 133 | ||||||
Darling Global Finance BV, (Netherlands), Reg. S, 3.63%, 05/15/2026 | EUR | 300 | 307 | |||||
FPC Resources Ltd., (British Virgin Islands), Reg. S, 4.38%, 09/11/2027 | 300 | 285 | ||||||
Indofood CBP Sukses Makmur Tbk. PT, (Indonesia), Reg. S, 4.75%, 06/09/2051 | 3,300 | 2,280 | ||||||
JGSH Philippines Ltd., (British Virgin Islands), Reg. S, 4.13%, 07/09/2030 | 6,350 | 5,685 | ||||||
Kraft Heinz Foods Co., 7.13%, 08/01/2039 (e) | 500 | 530 | ||||||
Lamb Weston Holdings, Inc., | ||||||||
4.13%, 01/31/2030 (e) | 413 | 353 | ||||||
4.38%, 01/31/2032 (e) | 3,470 | 2,907 | ||||||
4.88%, 05/15/2028 (e) | 72 | 67 | ||||||
Performance Food Group, Inc., | ||||||||
4.25%, 08/01/2029 (e) | 212 | 183 | ||||||
5.50%, 10/15/2027 (e) | 1,895 | 1,796 | ||||||
Picard Groupe SAS, (France), Reg. S, 3.88%, 07/01/2026 | EUR | 100 | 98 | |||||
Pilgrims Pride Corp., | ||||||||
3.50%, 03/01/2032 | 2,600 | 2,011 | ||||||
4.25%, 04/15/2031 | 8,148 | 6,798 | ||||||
Post Holdings, Inc., | ||||||||
4.50%, 09/15/2031 (e) | 1,821 | 1,516 | ||||||
4.63%, 04/15/2030 (e) | 1,405 | 1,203 | ||||||
5.50%, 12/15/2029 (e) | 950 | 862 | ||||||
Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 4.63%, 03/01/2029 (e) | 1,139 | 934 | ||||||
United Natural Foods, Inc., 6.75%, 10/15/2028 (e) | 123 | 94 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Food continued | ||||||||
US Foods, Inc., | ||||||||
4.75%, 02/15/2029 (e) | 1,879 | 1,679 | ||||||
6.88%, 09/15/2028 (e) | 873 | 871 | ||||||
7.25%, 01/15/2032 (e) | 1,051 | 1,050 | ||||||
|
|
|||||||
58,427 | ||||||||
|
|
|||||||
HealthcareProducts 0.8% | ||||||||
Avantor Funding, Inc., | ||||||||
Reg. S, 2.63%, 11/01/2025 | EUR | 1,081 | 1,090 | |||||
Reg. S, 3.88%, 07/15/2028 | EUR | 100 | 97 | |||||
3.88%, 11/01/2029 (e) | 983 | 840 | ||||||
4.63%, 07/15/2028 (e) | 1,066 | 972 | ||||||
Bausch & Lomb Escrow Corp., (Canada), 8.38%, 10/01/2028 (e) | 5,684 | 5,704 | ||||||
Embecta Corp., | ||||||||
5.00%, 02/15/2030 (e) | 1,225 | 956 | ||||||
6.75%, 02/15/2030 (e) | 1,155 | 944 | ||||||
Garden Spinco Corp., 8.63%, 07/20/2030 (e) | 942 | 982 | ||||||
GE HealthCare Technologies, Inc., 5.60%, 11/15/2025 | 125 | 124 | ||||||
Medline Borrower LP, | ||||||||
3.88%, 04/01/2029 (e) | 4,103 | 3,469 | ||||||
5.25%, 10/01/2029 (e) | 11,404 | 9,857 | ||||||
Teleflex, Inc., 4.25%, 06/01/2028 (e) | 1,284 | 1,149 | ||||||
|
|
|||||||
26,184 | ||||||||
|
|
|||||||
HealthcareServices 2.3% | ||||||||
Acadia Healthcare Co., Inc., 5.00%, 04/15/2029 (e) | 126 | 113 | ||||||
AHP Health Partners, Inc., 5.75%, 07/15/2029 (e) | 1,798 | 1,510 | ||||||
Catalent Pharma Solutions, Inc., | ||||||||
Reg. S, 2.38%, 03/01/2028 | EUR | 200 | 177 | |||||
3.13%, 02/15/2029 (e) | 848 | 694 | ||||||
3.50%, 04/01/2030 (e) | 2,003 | 1,649 | ||||||
5.00%, 07/15/2027 (e) | 340 | 312 | ||||||
Centene Corp., | ||||||||
2.45%, 07/15/2028 | 159 | 135 | ||||||
4.25%, 12/15/2027 | 666 | 613 | ||||||
Charles River Laboratories International, Inc., | ||||||||
4.00%, 03/15/2031 (e) | 15 | 13 | ||||||
4.25%, 05/01/2028 (e) | 1,363 | 1,220 | ||||||
CHS / Community Health Systems, Inc., | ||||||||
4.75%, 02/15/2031 (e) | 4,023 | 2,847 | ||||||
5.25%, 05/15/2030 (e) | 3,377 | 2,573 | ||||||
5.63%, 03/15/2027 (e) | 700 | 600 | ||||||
6.00%, 01/15/2029 (e) | 87 | 70 | ||||||
Clariane SE, (France), Reg. S, (UK Gilts 5 Year + 9.08%), 4.13%, 03/15/2024 (x) (aa) | GBP | 200 | 173 | |||||
DaVita, Inc., | ||||||||
3.75%, 02/15/2031 (e) | 4,982 | 3,785 | ||||||
4.63%, 06/01/2030 (e) | 3,175 | 2,607 | ||||||
Encompass Health Corp., | ||||||||
4.50%, 02/01/2028 | 55 | 50 | ||||||
4.63%, 04/01/2031 | 1,141 | 967 | ||||||
4.75%, 02/01/2030 | 984 | 871 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
HealthcareServices continued | ||||||||
Fortrea Holdings, Inc., 7.50%, 07/01/2030 (e) | 876 | 852 | ||||||
HCA, Inc., | ||||||||
5.25%, 04/15/2025 | 500 | 494 | ||||||
7.05%, 12/01/2027 | 950 | 974 | ||||||
7.50%, 11/06/2033 | 1,650 | 1,728 | ||||||
HealthEquity, Inc., 4.50%, 10/01/2029 (e) | 3,225 | 2,778 | ||||||
Humana, Inc., 5.70%, 03/13/2026 | 102 | 102 | ||||||
IQVIA, Inc., | ||||||||
Reg. S, 1.75%, 03/15/2026 | EUR | 200 | 197 | |||||
Reg. S, 2.25%, 03/15/2029 | EUR | 100 | 88 | |||||
5.00%, 10/15/2026 (e) | 397 | 379 | ||||||
5.00%, 05/15/2027 (e) | 200 | 189 | ||||||
6.50%, 05/15/2030 (e) | 978 | 957 | ||||||
Legacy LifePoint Health LLC, 4.38%, 02/15/2027 (e) | 173 | 149 | ||||||
LifePoint Health, Inc., | ||||||||
5.38%, 01/15/2029 (e) | 2,650 | 1,859 | ||||||
9.88%, 08/15/2030 (e) | 1,463 | 1,416 | ||||||
ModivCare, Inc., 5.88%, 11/15/2025 (e) | 1,370 | 1,302 | ||||||
Molina Healthcare, Inc., | ||||||||
3.88%, 11/15/2030 (e) | 334 | 276 | ||||||
3.88%, 05/15/2032 (e) | 966 | 775 | ||||||
4.38%, 06/15/2028 (e) | 217 | 195 | ||||||
Prime Healthcare Services, Inc., 7.25%, 11/01/2025 (e) | 2,640 | 2,441 | ||||||
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 9.75%, 12/01/2026 (e) | 4,621 | 4,474 | ||||||
Star Parent, Inc., 9.00%, 10/01/2030 (e) | 3,986 | 4,027 | ||||||
Surgery Center Holdings, Inc., | ||||||||
6.75%, 07/01/2025 (e) | 427 | 424 | ||||||
10.00%, 04/15/2027 (e) | 2,518 | 2,546 | ||||||
Tenet Healthcare Corp., | ||||||||
4.25%, 06/01/2029 | 3,279 | 2,821 | ||||||
4.38%, 01/15/2030 | 9,455 | 8,135 | ||||||
4.88%, 01/01/2026 | 973 | 932 | ||||||
5.13%, 11/01/2027 | 4,525 | 4,217 | ||||||
6.13%, 10/01/2028 | 2,022 | 1,898 | ||||||
6.13%, 06/15/2030 | 439 | 412 | ||||||
6.25%, 02/01/2027 | 697 | 674 | ||||||
6.75%, 05/15/2031 (e) | 3,602 | 3,474 | ||||||
|
|
|||||||
72,164 | ||||||||
|
|
|||||||
Household Products/Wares 0.2% | ||||||||
ACCO Brands Corp., 4.25%, 03/15/2029 (e) | 1,915 | 1,602 | ||||||
Central Garden & Pet Co., | ||||||||
4.13%, 10/15/2030 | 79 | 66 | ||||||
5.13%, 02/01/2028 | 360 | 336 | ||||||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc., | ||||||||
5.00%, 12/31/2026 (e) | 450 | 410 | ||||||
7.00%, 12/31/2027 (e) | 1,625 | 1,402 | ||||||
Spectrum Brands, Inc., 3.88%, 03/15/2031 (e) | 1,691 | 1,372 | ||||||
|
|
|||||||
5,188 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Pharmaceuticals 1.2% | ||||||||
AdaptHealth LLC, | ||||||||
4.63%, 08/01/2029 (e) | 2,100 | 1,612 | ||||||
5.13%, 03/01/2030 (e) | 1,301 | 1,008 | ||||||
6.13%, 08/01/2028 (e) | 865 | 746 | ||||||
Bausch Health Americas, Inc., 8.50%, 01/31/2027 (e) | 275 | 140 | ||||||
Bausch Health Cos., Inc., (Canada), | ||||||||
5.00%, 01/30/2028 (e) | 2,125 | 865 | ||||||
5.00%, 02/15/2029 (e) | 3,800 | 1,448 | ||||||
5.25%, 01/30/2030 (e) | 4,610 | 1,743 | ||||||
5.25%, 02/15/2031 (e) | 2,370 | 910 | ||||||
6.25%, 02/15/2029 (e) | 6,918 | 2,733 | ||||||
7.00%, 01/15/2028 (e) | 450 | 193 | ||||||
Bayer AG, (Germany), Reg. S, (EUR Swap Rate 5 Year + 3.75%), 4.50%, 03/25/2082 (aa) | EUR | 200 | 198 | |||||
Bayer US Finance II LLC, | ||||||||
3.88%, 12/15/2023 (e) | 554 | 552 | ||||||
4.25%, 12/15/2025 (e) | 300 | 289 | ||||||
(CME Term SOFR 3 Month + 1.27%), 6.68%, 12/15/2023 (e) (aa) | 200 | 200 | ||||||
Cheplapharm Arzneimittel GmbH, (Germany), 5.50%, 01/15/2028 (e) | 2,033 | 1,847 | ||||||
Grifols SA, (Spain), Reg. S, 3.88%, 10/15/2028 | EUR | 100 | 89 | |||||
Gruenenthal GmbH, (Germany), Reg. S, 4.13%, 05/15/2028 | EUR | 100 | 97 | |||||
Health & Happiness H&H International Holdings Ltd., (Cayman Islands), | ||||||||
Reg. S, 5.63%, 10/24/2024 | 5,250 | 4,990 | ||||||
Reg. S, 13.50%, 06/26/2026 | 600 | 574 | ||||||
Horizon Therapeutics USA, Inc., 5.50%, 08/01/2027 (e) | 375 | 385 | ||||||
Jazz Securities DAC, (Ireland), 4.38%, 01/15/2029 (e) | 1,078 | 940 | ||||||
Option Care Health, Inc., 4.38%, 10/31/2029 (e) | 957 | 827 | ||||||
Organon & Co. / Organon Foreign Debt Co-Issuer BV, | ||||||||
4.13%, 04/30/2028 (e) | 1,798 | 1,562 | ||||||
5.13%, 04/30/2031 (e) | 4,883 | 3,914 | ||||||
P&L Development LLC / PLD Finance Corp., 7.75%, 11/15/2025 (e) | 1,658 | 1,210 | ||||||
PRA Health Sciences, Inc., 2.88%, 07/15/2026 (e) | 2,384 | 2,151 | ||||||
Teva Pharmaceutical Finance Netherlands II BV, (Netherlands), | ||||||||
4.38%, 05/09/2030 | EUR | 283 | 255 | |||||
7.38%, 09/15/2029 | EUR | 200 | 215 | |||||
Teva Pharmaceutical Finance Netherlands III BV, (Netherlands), | ||||||||
3.15%, 10/01/2026 | 3,005 | 2,677 | ||||||
7.13%, 01/31/2025 | 200 | 201 | ||||||
7.88%, 09/15/2029 | 1,962 | 1,987 | ||||||
8.13%, 09/15/2031 | 751 | 777 | ||||||
|
|
|||||||
37,335 | ||||||||
|
|
|||||||
Total Consumer Non-cyclical | 340,980 | |||||||
|
|
|||||||
Diversified 0.1% | ||||||||
Holding Companies Diversified 0.1% | ||||||||
San Miguel Corp., (Philippines), Reg. S, (CMT Index 5 Year + 10.24%), 5.50%, 07/29/2025 (x) (aa) |
3,350 | 3,048 | ||||||
|
|
|||||||
Energy 10.6% | ||||||||
Coal 0.4% | ||||||||
Adaro Indonesia PT, (Indonesia), Reg. S, 4.25%, 10/31/2024 | 6,150 | 5,912 | ||||||
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp., 7.50%, 05/01/2025 (e) |
128 | 128 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Coal continued | ||||||||
Conuma Resources Ltd., (Canada), 13.13%, 05/01/2028 (e) | 800 | 736 | ||||||
Coronado Finance Pty Ltd., (Australia), 10.75%, 05/15/2026 (e) | 554 | 573 | ||||||
Indika Energy Capital IV Pte Ltd., (Singapore), Reg. S, 8.25%, 10/22/2025 | 5,150 | 5,085 | ||||||
|
|
|||||||
12,434 | ||||||||
|
|
|||||||
EnergyAlternate Sources 1.4% | ||||||||
Adani Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energ, (India), Reg. S, 6.25%, 12/10/2024 | 4,300 | 4,107 | ||||||
Continuum Energy Levanter Pte Ltd., (Singapore), Reg. S, 4.50%, 02/09/2027 | 2,050 | 1,913 | ||||||
Cullinan Holdco Scsp, (Luxembourg), Reg. S, 4.63%, 10/15/2026 | EUR | 101 | 78 | |||||
Greenko Dutch BV, (Netherlands), | ||||||||
3.85%, 03/29/2026 (e) | 185 | 166 | ||||||
Reg. S, 3.85%, 03/29/2026 | 11,840 | 10,635 | ||||||
Greenko Solar Mauritius Ltd., (Mauritius), Reg. S, 5.55%, 01/29/2025 | 5,850 | 5,631 | ||||||
Greenko Wind Projects Mauritius Ltd., (Mauritius), | ||||||||
5.50%, 04/06/2025 (e) | 7,200 | 6,898 | ||||||
Reg. S, 5.50%, 04/06/2025 | 1,300 | 1,245 | ||||||
Hanwha Q Cells Americas Holdings Corp., 5.00%, 07/27/2028 (e) | 1,800 | 1,755 | ||||||
India Cleantech Energy, (Mauritius), Reg. S, 4.70%, 08/10/2026 | 4,420 | 3,830 | ||||||
India Green Energy Holdings, (Mauritius), Reg. S, 5.38%, 04/29/2024 | 7,100 | 6,986 | ||||||
India Green Power Holdings, (Mauritius), Reg. S, 4.00%, 02/22/2027 | 1,000 | 873 | ||||||
TerraForm Power Operating LLC, 4.75%, 01/15/2030 (e) | 1,165 | 995 | ||||||
|
|
|||||||
45,112 | ||||||||
|
|
|||||||
Oil & Gas 5.6% | ||||||||
Aethon United BR LP / Aethon United Finance Corp., 8.25%, 02/15/2026 (e) | 3,572 | 3,544 | ||||||
Aker BP ASA, (Norway), 2.00%, 07/15/2026 (e) | 212 | 189 | ||||||
Antero Resources Corp., | ||||||||
5.38%, 03/01/2030 (e) | 2,520 | 2,320 | ||||||
7.63%, 02/01/2029 (e) | 950 | 963 | ||||||
Apache Corp., 5.35%, 07/01/2049 | 603 | 464 | ||||||
Ascent Resources Utica Holdings LLC / ARU Finance Corp., | ||||||||
5.88%, 06/30/2029 (e) | 3,682 | 3,311 | ||||||
7.00%, 11/01/2026 (e) | 1,025 | 1,001 | ||||||
8.25%, 12/31/2028 (e) | 5,073 | 5,020 | ||||||
9.00%, 11/01/2027 (e) | 1,629 | 2,053 | ||||||
Athabasca Oil Corp., (Canada), 9.75%, 11/01/2026 (e) | 2,469 | 2,555 | ||||||
Baytex Energy Corp., (Canada), 8.50%, 04/30/2030 (e) | 627 | 634 | ||||||
California Resources Corp., 7.13%, 02/01/2026 (e) | 236 | 237 | ||||||
Callon Petroleum Co., | ||||||||
6.38%, 07/01/2026 | 4,697 | 4,610 | ||||||
7.50%, 06/15/2030 (e) | 1,810 | 1,755 | ||||||
8.00%, 08/01/2028 (e) | 3,043 | 3,047 | ||||||
Chesapeake Energy Corp., | ||||||||
5.50%, 02/01/2026 (e) | 500 | 484 | ||||||
5.88%, 02/01/2029 (e) | 835 | 786 | ||||||
6.75%, 04/15/2029 (e) | 2,650 | 2,591 | ||||||
Chord Energy Corp., 6.38%, 06/01/2026 (e) | 156 | 153 | ||||||
CITGO Petroleum Corp., | ||||||||
6.38%, 06/15/2026 (d) (e) | 2,305 | 2,276 | ||||||
7.00%, 06/15/2025 (d) (e) | 3,414 | 3,363 | ||||||
8.38%, 01/15/2029 (e) | 2,286 | 2,282 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Oil & Gas continued | ||||||||
Civitas Resources, Inc., | ||||||||
8.38%, 07/01/2028 (e) | 4,757 | 4,840 | ||||||
8.75%, 07/01/2031 (e) | 2,802 | 2,861 | ||||||
CNX Resources Corp., | ||||||||
7.25%, 03/14/2027 (e) | 2,315 | 2,285 | ||||||
7.38%, 01/15/2031 (e) | 746 | 731 | ||||||
Comstock Resources, Inc., | ||||||||
5.88%, 01/15/2030 (e) | 3,295 | 2,852 | ||||||
6.75%, 03/01/2029 (e) | 3,889 | 3,578 | ||||||
Continental Resources, Inc., | ||||||||
2.27%, 11/15/2026 (e) | 580 | 514 | ||||||
3.80%, 06/01/2024 | 450 | 443 | ||||||
4.38%, 01/15/2028 | 275 | 255 | ||||||
Crescent Energy Finance LLC, | ||||||||
7.25%, 05/01/2026 (e) | 3,913 | 3,835 | ||||||
9.25%, 02/15/2028 (e) | 2,957 | 3,019 | ||||||
CrownRock LP / CrownRock Finance, Inc., | ||||||||
5.00%, 05/01/2029 (e) | 206 | 193 | ||||||
5.63%, 10/15/2025 (e) | 3,225 | 3,173 | ||||||
Devon Energy Corp., 5.25%, 10/15/2027 | 415 | 404 | ||||||
Diamond Foreign Asset Co. / Diamond Finance LLC, (Cayman Islands), 8.50%, 10/01/2030 (e) | 1,445 | 1,445 | ||||||
Earthstone Energy Holdings LLC, | ||||||||
8.00%, 04/15/2027 (e) | 1,727 | 1,768 | ||||||
9.88%, 07/15/2031 (e) | 1,357 | 1,484 | ||||||
Endeavor Energy Resources LP / EER Finance, Inc., 5.75%, 01/30/2028 (e) | 1,865 | 1,800 | ||||||
EnQuest plc, (United Kingdom), 11.63%, 11/01/2027 (e) | 200 | 189 | ||||||
EQT Corp., | ||||||||
3.13%, 05/15/2026 (e) | 353 | 327 | ||||||
3.90%, 10/01/2027 | 326 | 301 | ||||||
6.13%, 02/01/2025 | 208 | 207 | ||||||
Gulfport Energy Corp., 8.00%, 05/17/2026 (e) | 302 | 302 | ||||||
Harbour Energy plc, (United Kingdom), 5.50%, 10/15/2026 (e) | 264 | 246 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co., | ||||||||
5.75%, 02/01/2029 (e) | 2,067 | 1,866 | ||||||
6.00%, 04/15/2030 (e) | 350 | 315 | ||||||
6.00%, 02/01/2031 (e) | 3,913 | 3,443 | ||||||
6.25%, 11/01/2028 (e) | 786 | 737 | ||||||
6.25%, 04/15/2032 (e) | 1,150 | 1,023 | ||||||
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/2026 (e) | 243 | 235 | ||||||
Matador Resources Co., | ||||||||
5.88%, 09/15/2026 | 1,237 | 1,194 | ||||||
6.88%, 04/15/2028 (e) | 1,268 | 1,245 | ||||||
Medco Oak Tree Pte Ltd., (Singapore), Reg. S, 7.38%, 05/14/2026 | 10,050 | 9,975 | ||||||
MEG Energy Corp., (Canada), 5.88%, 02/01/2029 (e) | 925 | 864 | ||||||
Nabors Industries Ltd., (Bermuda), | ||||||||
7.25%, 01/15/2026 (e) | 415 | 401 | ||||||
7.50%, 01/15/2028 (e) | 5,267 | 4,869 | ||||||
Nabors Industries, Inc., | ||||||||
5.75%, 02/01/2025 | 3,991 | 3,906 | ||||||
7.38%, 05/15/2027 (e) | 2,138 | 2,068 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Oil & Gas continued | ||||||||
Noble Finance II LLC, 8.00%, 04/15/2030 (e) | 1,770 | 1,793 | ||||||
Northern Oil and Gas, Inc., | ||||||||
8.13%, 03/01/2028 (e) | 6,046 | 6,039 | ||||||
8.75%, 06/15/2031 (e) | 1,417 | 1,427 | ||||||
Occidental Petroleum Corp., | ||||||||
5.88%, 09/01/2025 | 715 | 711 | ||||||
6.20%, 03/15/2040 | 154 | 147 | ||||||
6.38%, 09/01/2028 | 510 | 514 | ||||||
7.88%, 09/15/2031 | 500 | 541 | ||||||
Ovintiv, Inc., | ||||||||
5.38%, 01/01/2026 | 250 | 246 | ||||||
5.65%, 05/15/2028 | 250 | 245 | ||||||
Parkland Corp., (Canada), | ||||||||
4.50%, 10/01/2029 (e) | 2,300 | 1,970 | ||||||
4.63%, 05/01/2030 (e) | 500 | 426 | ||||||
Patterson-UTI Energy, Inc., | ||||||||
3.95%, 02/01/2028 | 186 | 167 | ||||||
7.15%, 10/01/2033 | 465 | 467 | ||||||
PBF Holding Co. LLC / PBF Finance Corp., 7.88%, 09/15/2030 (e) | 603 | 601 | ||||||
PDC Energy, Inc., 5.75%, 05/15/2026 | 1,027 | 1,024 | ||||||
Permian Resources Operating LLC, | ||||||||
5.38%, 01/15/2026 (e) | 54 | 52 | ||||||
5.88%, 07/01/2029 (e) | 3,644 | 3,433 | ||||||
6.88%, 04/01/2027 (e) | 1,135 | 1,119 | ||||||
7.00%, 01/15/2032 (e) | 1,441 | 1,423 | ||||||
7.75%, 02/15/2026 (e) | 1,286 | 1,294 | ||||||
Petroleos Mexicanos, (Mexico), | ||||||||
6.49%, 01/23/2027 | 144 | 127 | ||||||
6.88%, 08/04/2026 | 155 | 143 | ||||||
Petron Corp., (Philippines), Reg. S, (CMT Index 5 Year + 7.57%), 5.95%, 04/19/2026 (x) (aa) | 3,500 | 3,205 | ||||||
Precision Drilling Corp., (Canada), 6.88%, 01/15/2029 (e) | 1,935 | 1,830 | ||||||
Range Resources Corp., | ||||||||
4.75%, 02/15/2030 (e) | 150 | 133 | ||||||
4.88%, 05/15/2025 | 801 | 777 | ||||||
Repsol International Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 4.41%), 4.25%, 09/11/2028 (x) (aa) | EUR | 185 | 178 | |||||
Rockcliff Energy II LLC, 5.50%, 10/15/2029 (e) | 1,231 | 1,108 | ||||||
Saka Energi Indonesia PT, (Indonesia), Reg. S, 4.45%, 05/05/2024 | 797 | 782 | ||||||
Santos Finance Ltd., (Australia), 6.88%, 09/19/2033 (e) | 200 | 196 | ||||||
Seadrill Finance Ltd., (Bermuda), 8.38%, 08/01/2030 (e) | 910 | 927 | ||||||
Shelf Drilling Holdings Ltd., (Cayman Islands), 9.63%, 04/15/2029 (e) | 914 | 905 | ||||||
Sitio Royalties Operating Partnership LP / Sitio Finance Corp., 7.88%, 11/01/2028 (e) (w) | 1,710 | 1,714 | ||||||
SM Energy Co., | ||||||||
5.63%, 06/01/2025 | 1,303 | 1,275 | ||||||
6.50%, 07/15/2028 | 782 | 751 | ||||||
6.63%, 01/15/2027 | 25 | 25 | ||||||
6.75%, 09/15/2026 | 808 | 793 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Oil & Gas continued | ||||||||
Southwestern Energy Co., | ||||||||
4.75%, 02/01/2032 | 2,392 | 2,053 | ||||||
5.38%, 02/01/2029 | 1,422 | 1,310 | ||||||
5.38%, 03/15/2030 | 3,054 | 2,782 | ||||||
5.70%, 01/23/2025 | 3 | 3 | ||||||
Suncor Energy, Inc., (Canada), 7.88%, 06/15/2026 | 145 | 152 | ||||||
Sunoco LP / Sunoco Finance Corp., | ||||||||
4.50%, 05/15/2029 | 1,500 | 1,317 | ||||||
4.50%, 04/30/2030 | 775 | 671 | ||||||
5.88%, 03/15/2028 | 320 | 307 | ||||||
7.00%, 09/15/2028 (e) | 876 | 866 | ||||||
Tengizchevroil Finance Co. International Ltd., (Bermuda), 2.63%, 08/15/2025 (e) | 200 | 180 | ||||||
Transocean Aquila Ltd., (Cayman Islands), 8.00%, 09/30/2028 (e) | 581 | 581 | ||||||
Transocean Titan Financing Ltd., (Cayman Islands), 8.38%, 02/01/2028 (e) | 1,225 | 1,246 | ||||||
Transocean, Inc., (Cayman Islands), | ||||||||
7.25%, 11/01/2025 (e) | 150 | 147 | ||||||
7.50%, 01/15/2026 (e) | 2,425 | 2,370 | ||||||
8.00%, 02/01/2027 (e) | 1,051 | 1,012 | ||||||
8.75%, 02/15/2030 (e) | 4,153 | 4,247 | ||||||
11.50%, 01/30/2027 (e) | 3,505 | 3,676 | ||||||
Valaris Ltd., (Bermuda), 8.38%, 04/30/2030 (e) | 3,919 | 3,930 | ||||||
Vermilion Energy, Inc., (Canada), 6.88%, 05/01/2030 (e) | 197 | 186 | ||||||
Vital Energy, Inc., | ||||||||
9.50%, 01/15/2025 | 46 | 47 | ||||||
9.75%, 10/15/2030 | 1,365 | 1,395 | ||||||
10.13%, 01/15/2028 | 1,265 | 1,288 | ||||||
|
|
|||||||
181,105 | ||||||||
|
|
|||||||
Oil & Gas Services 0.4% | ||||||||
Archrock Partners LP / Archrock Partners Finance Corp., | ||||||||
6.25%, 04/01/2028 (e) | 4,192 | 3,903 | ||||||
6.88%, 04/01/2027 (e) | 1,935 | 1,872 | ||||||
Enerflex Ltd., (Canada), 9.00%, 10/15/2027 (e) | 786 | 776 | ||||||
Oceaneering International, Inc., | ||||||||
4.65%, 11/15/2024 | 157 | 155 | ||||||
6.00%, 02/01/2028 (e) (w) | 295 | 278 | ||||||
USA Compression Partners LP / USA Compression Finance Corp., | ||||||||
6.88%, 04/01/2026 | 2,967 | 2,907 | ||||||
6.88%, 09/01/2027 | 2,254 | 2,185 | ||||||
Weatherford International Ltd., (Bermuda), | ||||||||
6.50%, 09/15/2028 (e) | 1,166 | 1,166 | ||||||
8.63%, 04/30/2030 (e) | 1,056 | 1,064 | ||||||
Welltec International ApS, (Denmark), 8.25%, 10/15/2026 (e) | 200 | 203 | ||||||
|
|
|||||||
14,509 | ||||||||
|
|
|||||||
Pipelines 2.8% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp., | ||||||||
5.38%, 06/15/2029 (e) | 2,812 | 2,580 | ||||||
5.75%, 03/01/2027 (e) | 1,531 | 1,463 | ||||||
5.75%, 01/15/2028 (e) | 2,146 | 2,024 | ||||||
7.88%, 05/15/2026 (e) | 450 | 453 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Pipelines continued | ||||||||
Buckeye Partners LP, | ||||||||
3.95%, 12/01/2026 | 88 | 79 | ||||||
5.60%, 10/15/2044 | 46 | 33 | ||||||
5.85%, 11/15/2043 | 17 | 12 | ||||||
Cheniere Corpus Christi Holdings LLC, 5.88%, 03/31/2025 | 1,019 | 1,012 | ||||||
Cheniere Energy Partners LP, 4.00%, 03/01/2031 | 1,550 | 1,325 | ||||||
Cheniere Energy, Inc., 4.63%, 10/15/2028 | 2,408 | 2,221 | ||||||
CNX Midstream Partners LP, 4.75%, 04/15/2030 (e) | 1,405 | 1,170 | ||||||
CQP Holdco LP / BIP-V Chinook Holdco LLC, 5.50%, 06/15/2031 (e) | 4,660 | 4,130 | ||||||
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., | ||||||||
5.63%, 05/01/2027 (e) | 62 | 60 | ||||||
6.00%, 02/01/2029 (e) | 2,359 | 2,277 | ||||||
7.38%, 02/01/2031 (e) | 674 | 686 | ||||||
8.00%, 04/01/2029 (e) | 52 | 53 | ||||||
DCP Midstream Operating LP, 5.38%, 07/15/2025 | 161 | 159 | ||||||
DT Midstream, Inc., | ||||||||
4.13%, 06/15/2029 (e) | 2,466 | 2,136 | ||||||
4.38%, 06/15/2031 (e) | 171 | 144 | ||||||
Enbridge, Inc., (Canada), (CMT Index 5 Year + 4.43%), 8.50%, 01/15/2084 (aa) | 891 | 880 | ||||||
Energy Transfer LP, Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa) | 2,073 | 1,904 | ||||||
EnLink Midstream LLC, | ||||||||
5.38%, 06/01/2029 | 260 | 240 | ||||||
5.63%, 01/15/2028 (e) | 2,961 | 2,800 | ||||||
6.50%, 09/01/2030 (e) | 638 | 619 | ||||||
EnLink Midstream Partners LP, | ||||||||
4.15%, 06/01/2025 | 96 | 92 | ||||||
4.85%, 07/15/2026 | 208 | 196 | ||||||
5.60%, 04/01/2044 | 103 | 85 | ||||||
EQM Midstream Partners LP, | ||||||||
4.50%, 01/15/2029 (e) | 11 | 10 | ||||||
4.75%, 01/15/2031 (e) | 248 | 213 | ||||||
6.00%, 07/01/2025 (e) | 1,366 | 1,345 | ||||||
6.50%, 07/01/2027 (e) | 1,338 | 1,307 | ||||||
7.50%, 06/01/2027 (e) | 1,225 | 1,228 | ||||||
7.50%, 06/01/2030 (e) | 1,333 | 1,339 | ||||||
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/2027 (e) | 460 | 458 | ||||||
Genesis Energy LP / Genesis Energy Finance Corp., | ||||||||
6.50%, 10/01/2025 | 49 | 48 | ||||||
7.75%, 02/01/2028 | 339 | 321 | ||||||
8.88%, 04/15/2030 | 659 | 644 | ||||||
Global Partners LP / GLP Finance Corp., 7.00%, 08/01/2027 | 600 | 585 | ||||||
Hess Midstream Operations LP, 4.25%, 02/15/2030 (e) | 1,480 | 1,248 | ||||||
Howard Midstream Energy Partners LLC, 8.88%, 07/15/2028 (e) | 1,535 | 1,548 | ||||||
ITT Holdings LLC, 6.50%, 08/01/2029 (e) | 2,449 | 2,076 | ||||||
Kinetik Holdings LP, 5.88%, 06/15/2030 (e) | 1,355 | 1,270 | ||||||
New Fortress Energy, Inc., | ||||||||
6.50%, 09/30/2026 (e) | 2,185 | 2,012 | ||||||
6.75%, 09/15/2025 (e) | 2,851 | 2,721 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Pipelines continued | ||||||||
NGL Energy Operating LLC / NGL Energy Finance Corp., 7.50%, 02/01/2026 (e) | 1,584 | 1,567 | ||||||
NuStar Logistics LP, | ||||||||
5.75%, 10/01/2025 | 32 | 31 | ||||||
6.00%, 06/01/2026 | 1,514 | 1,469 | ||||||
6.38%, 10/01/2030 | 13 | 12 | ||||||
Plains All American Pipeline LP / PAA Finance Corp., 3.60%, 11/01/2024 | 121 | 118 | ||||||
Rockies Express Pipeline LLC, | ||||||||
4.95%, 07/15/2029 (e) | 183 | 163 | ||||||
7.50%, 07/15/2038 (e) | 2,825 | 2,669 | ||||||
Sabal Trail Transmission LLC, 4.25%, 05/01/2028 (e) | 425 | 398 | ||||||
Sabine Pass Liquefaction LLC, | ||||||||
5.75%, 05/15/2024 | 100 | 100 | ||||||
5.88%, 06/30/2026 | 250 | 249 | ||||||
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., | ||||||||
5.50%, 01/15/2028 (e) | 4,098 | 3,730 | ||||||
6.00%, 03/01/2027 (e) | 836 | 787 | ||||||
6.00%, 12/31/2030 (e) | 33 | 29 | ||||||
6.00%, 09/01/2031 (e) | 2,664 | 2,320 | ||||||
7.50%, 10/01/2025 (e) | 61 | 61 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 6.50%, 07/15/2027 | 244 | 246 | ||||||
Venture Global Calcasieu Pass LLC, | ||||||||
3.88%, 08/15/2029 (e) | 3,889 | 3,272 | ||||||
3.88%, 11/01/2033 (e) | 3,013 | 2,340 | ||||||
4.13%, 08/15/2031 (e) | 3,573 | 2,932 | ||||||
6.25%, 01/15/2030 (e) | 450 | 429 | ||||||
Venture Global LNG, Inc., | ||||||||
8.13%, 06/01/2028 (e) | 5,794 | 5,736 | ||||||
8.38%, 06/01/2031 (e) | 8,966 | 8,813 | ||||||
Western Midstream Operating LP, | ||||||||
4.65%, 07/01/2026 | 360 | 346 | ||||||
5.25%, 02/01/2050 | 3,552 | 2,767 | ||||||
5.30%, 03/01/2048 | 624 | 487 | ||||||
5.45%, 04/01/2044 | 53 | 43 | ||||||
5.50%, 08/15/2048 | 463 | 368 | ||||||
|
|
|||||||
88,688 | ||||||||
|
|
|||||||
Total Energy | 341,848 | |||||||
|
|
|||||||
Financial 13.3% | ||||||||
Banks 3.9% | ||||||||
ABN AMRO Bank NV, (Netherlands), | ||||||||
4.75%, 07/28/2025 (e) | 700 | 678 | ||||||
(CMT Index 1 Year + 1.65%), 6.34%, 09/18/2027 (e) (aa) | 200 | 200 | ||||||
AIB Group plc, (Ireland), | ||||||||
(ICE LIBOR USD 3 Month + 1.87%), 4.26%, 04/10/2025 (e) (aa) | 683 | 673 | ||||||
Reg. S, (EUR Swap Rate 5 Year + 5.70%), 5.25%, 10/09/2024 (x) (aa) | EUR | 359 | 362 | |||||
Banca Monte dei Paschi di Siena SpA, (Italy), Reg. S, (ICE LIBOR EUR 3 Month + 3.21%), 6.75%, 03/02/2026 (aa) | EUR | 100 | 105 | |||||
Banco Bilbao Vizcaya Argentaria SA, (Spain), Reg. S, (EUR Swap Rate 5 Year + 6.04%), 6.00%, 03/29/2024 (x) (aa) | EUR | 400 | 417 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Banks continued | ||||||||
Banco BPM SpA, (Italy), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 3.40%), 3.38%, 01/19/2032 (aa) | EUR | 214 | 199 | |||||
Reg. S, (EUR Swap Rate 5 Year + 4.67%), 4.25%, 10/01/2029 (aa) | EUR | 100 | 103 | |||||
Reg. S, (ICE LIBOR EUR 3 Month + 2.80%), 6.00%, 06/14/2028 (aa) | EUR | 200 | 211 | |||||
Banco de Credito Social Cooperativo SA, (Spain), Reg. S, (ICE EURIBOR Swap Rate 1 Year + 4.27%), 7.50%, 09/14/2029 (aa) | EUR | 200 | 209 | |||||
Banco de Sabadell SA, (Spain), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 2.95%), 2.50%, 04/15/2031 (aa) | EUR | 200 | 187 | |||||
Reg. S, (EUR Swap Rate 1 Year + 2.40%), 5.25%, 02/07/2029 (aa) | EUR | 100 | 104 | |||||
(EUR Swap Rate 5 Year + 3.15%), 6.00%, 08/16/2033 (aa) | EUR | 100 | 99 | |||||
Banco Santander SA, (Spain), 6.92%, 08/08/2033 | 1,000 | 954 | ||||||
Bangkok Bank PCL, (Thailand), | ||||||||
Reg. S, (CMT Index 5 Year + 1.90%), 3.73%, 09/25/2034 (aa) | 3,550 | 2,961 | ||||||
Reg. S, 5.00%, 10/03/2023 | 4,500 | 4,500 | ||||||
Reg. S, (CMT Index 5 Year + 4.73%), 5.00%, 09/23/2025 (x) (aa) | 3,400 | 3,188 | ||||||
Bank Negara Indonesia Persero Tbk. PT, (Indonesia), | ||||||||
Reg. S, 3.75%, 03/30/2026 | 7,650 | 7,064 | ||||||
Reg. S, (CMT Index 5 Year + 3.47%), 4.30%, 03/24/2027 (x) (aa) | 2,400 | 1,954 | ||||||
Bank of America Corp., | ||||||||
(United States SOFR + 0.96%), 1.73%, 07/22/2027 (aa) | 98 | 87 | ||||||
(CME Term SOFR 3 Month + 1.13%), 2.46%, 10/22/2025 (aa) | 80 | 77 | ||||||
(CME Term SOFR 3 Month + 1.35%), 3.09%, 10/01/2025 (aa) | 18 | 18 | ||||||
(United States SOFR + 1.33%), 3.38%, 04/02/2026 (aa) | 672 | 643 | ||||||
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa) | 1,045 | 1,030 | ||||||
(United States SOFR + 2.04%), 4.95%, 07/22/2028 (aa) | 230 | 221 | ||||||
Series L, 3.95%, 04/21/2025 | 552 | 533 | ||||||
Bank of East Asia Ltd. (The), (Hong Kong), Reg. S, (CMT Index 5 Year + 3.75%), 4.00%, 05/29/2030 (aa) | 5,000 | 4,592 | ||||||
Bank of Ireland Group plc, (Ireland), | ||||||||
(CMT Index 1 Year + 1.10%), 2.03%, 09/30/2027 (e) (aa) | 200 | 175 | ||||||
4.50%, 11/25/2023 (e) | 700 | 698 | ||||||
(CMT Index 1 Year + 2.65%), 6.25%, 09/16/2026 (e) (aa) | 200 | 199 | ||||||
Reg. S, (EUR Swap Rate 5 Year + 7.92%), 7.50%, 05/19/2025 (x) (aa) | EUR | 200 | 207 | |||||
Bank of Montreal, (Canada), | ||||||||
3.70%, 06/07/2025 | 141 | 136 | ||||||
5.30%, 06/05/2026 | 197 | 194 | ||||||
Bank of New York Mellon Corp. (The), (United States SOFR + 1.17%), 4.54%, 02/01/2029 (aa) |
99 | 94 | ||||||
Bank of Nova Scotia (The), (Canada), | ||||||||
4.75%, 02/02/2026 | 124 | 121 | ||||||
5.45%, 06/12/2025 | 158 | 157 | ||||||
Bankinter SA, (Spain), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.71%), 7.38%, 08/15/2028 (x) (aa) | EUR | 200 | 201 | |||||
BankUnited, Inc., 4.88%, 11/17/2025 | 544 | 509 | ||||||
Barclays plc, (United Kingdom), | ||||||||
(United States SOFR + 2.71%), 2.85%, 05/07/2026 (aa) | 376 | 355 | ||||||
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa) | 1,000 | 985 | ||||||
(CMT Index 5 Year + 3.41%), 4.38%, 03/15/2028 (x) (aa) | 465 | 323 | ||||||
(United States SOFR + 2.21%), 5.83%, 05/09/2027 (aa) | 252 | 247 | ||||||
(United States SOFR + 1.88%), 6.50%, 09/13/2027 (aa) | 209 | 209 | ||||||
(CMT Index 1 Year + 3.05%), 7.33%, 11/02/2026 (aa) | 356 | 361 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Banks continued | ||||||||
(CMT Index 5 Year + 5.67%), 8.00%, 06/15/2024 (x) (aa) | 200 | 197 | ||||||
(CMT Index 5 Year + 5.43%), 8.00%, 03/15/2029 (x) (aa) | 794 | 712 | ||||||
BNP Paribas SA, (France), | ||||||||
(United States SOFR + 2.07%), 2.22%, 06/09/2026 (e) (aa) | 711 | 664 | ||||||
(CME Term SOFR 3 Month + 1.37%), 2.82%, 11/19/2025 (e) (aa) | 200 | 192 | ||||||
(ICE Swap Rate 5 Year + 4.15%), 6.63%, 03/25/2024 (e) (x) (aa) | 200 | 197 | ||||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.63%), 7.38%, 06/11/2030 (x) (aa) | EUR | 200 | 205 | |||||
(CMT Index 5 Year + 4.35%), 8.50%, 08/14/2028 (e) (x) (aa) | 1,875 | 1,835 | ||||||
BPCE SA, (France), | ||||||||
4.50%, 03/15/2025 (e) | 200 | 193 | ||||||
4.88%, 04/01/2026 (e) | 200 | 192 | ||||||
5.15%, 07/21/2024 (e) | 235 | 231 | ||||||
CaixaBank SA, (Spain), Reg. S, (EUR Swap Rate 5 Year + 6.50%), 6.75%, 06/13/2024 (x) (aa) |
EUR | 200 | 209 | |||||
Canadian Imperial Bank of Commerce, (Canada), | ||||||||
3.95%, 08/04/2025 | 231 | 223 | ||||||
5.00%, 04/28/2028 | 204 | 196 | ||||||
5.14%, 04/28/2025 | 252 | 249 | ||||||
Citibank NA, 5.86%, 09/29/2025 | 635 | 636 | ||||||
Citigroup, Inc., | ||||||||
(United States SOFR + 2.84%), 3.11%, 04/08/2026 (aa) | 382 | 364 | ||||||
(CME Term SOFR 3 Month + 1.16%), 3.35%, 04/24/2025 (aa) | 935 | 918 | ||||||
(United States SOFR + 1.37%), 4.14%, 05/24/2025 (aa) | 402 | 396 | ||||||
(United States SOFR + 2.66%), 6.17%, 05/25/2034 (aa) | 1,930 | 1,847 | ||||||
(CMT Index 5 Year + 3.21%), 7.63%, 11/15/2028 (x) (aa) | 999 | 977 | ||||||
Series Y, (CMT Index 5 Year + 3.00%), 4.15%, 11/15/2026 (x) (aa) | 15 | 12 | ||||||
Commerzbank AG, (Germany), Reg. S, (EUR Swap Rate 5 Year + 6.36%), 6.13%, 10/09/2025 (x) (aa) |
EUR | 400 | 380 | |||||
Credit Agricole SA, (France), | ||||||||
4.38%, 03/17/2025 (e) | 450 | 435 | ||||||
(CMT Index 5 Year + 3.24%), 4.75%, 03/23/2029 (e) (x) (aa) | 261 | 198 | ||||||
Credit Suisse AG, (Switzerland), | ||||||||
3.63%, 09/09/2024 | 605 | 588 | ||||||
4.75%, 08/09/2024 | 250 | 247 | ||||||
Danske Bank A/S, (Denmark), | ||||||||
(ICE LIBOR USD 3 Month + 1.59%), 3.24%, 12/20/2025 (e) (aa) | 1,193 | 1,143 | ||||||
5.38%, 01/12/2024 (e) | 325 | 324 | ||||||
(CMT Index 1 Year + 2.10%), 6.47%, 01/09/2026 (e) (aa) | 400 | 399 | ||||||
Deutsche Bank AG, (Germany), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 6.94%), 10.00%, 12/01/2027 (x) (aa) | EUR | 200 | 209 | |||||
Discover Bank, 4.25%, 03/13/2026 | 250 | 237 | ||||||
Federation des Caisses Desjardins du Quebec, (Canada), 5.70%, 03/14/2028 (e) | 200 | 197 | ||||||
First-Citizens Bank & Trust Co., (CME Term SOFR 3 Month + 1.72%), 2.97%, 09/27/2025 (aa) |
250 | 238 | ||||||
Freedom Mortgage Corp., | ||||||||
7.63%, 05/01/2026 (e) | 883 | 823 | ||||||
12.00%, 10/01/2028 (e) | 907 | 922 | ||||||
12.25%, 10/01/2030 (e) | 1,033 | 1,051 | ||||||
Goldman Sachs Group, Inc. (The), | ||||||||
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa) | 200 | 177 | ||||||
(United States SOFR + 1.11%), 2.64%, 02/24/2028 (aa) | 554 | 494 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Banks continued | ||||||||
(CME Term SOFR 3 Month + 1.46%), 3.27%, 09/29/2025 (aa) | 316 | 306 | ||||||
(CME Term SOFR 3 Month + 1.56%), 4.22%, 05/01/2029 (aa) | 212 | 196 | ||||||
(United States SOFR + 1.08%), 5.80%, 08/10/2026 (aa) | 170 | 169 | ||||||
Series R, (CMT Index 5 Year + 3.22%), 4.95%, 02/10/2025 (x) (aa) | 441 | 408 | ||||||
HDFC Bank Ltd., (India), Reg. S, (CMT Index 5 Year + 2.93%), 3.70%, 08/25/2026 (x) (aa) | 1,800 | 1,552 | ||||||
HSBC Holdings plc, (United Kingdom), | ||||||||
(CME Term SOFR 3 Month + 1.47%), 3.80%, 03/11/2025 (aa) | 400 | 395 | ||||||
(CMT Index 5 Year + 3.65%), 4.60%, 12/17/2030 (x) (aa) | 200 | 151 | ||||||
(United States SOFR + 1.57%), 5.89%, 08/14/2027 (aa) | 212 | 210 | ||||||
HSBC USA, Inc., 5.63%, 03/17/2025 | 200 | 199 | ||||||
Huntington Bancshares, Inc., (United States SOFR + 1.97%), 4.44%, 08/04/2028 (aa) | 83 | 77 | ||||||
ING Groep NV, (Netherlands), | ||||||||
(CMT Index 5 Year + 4.34%), 5.75%, 11/16/2026 (x) (aa) | 200 | 177 | ||||||
(United States SOFR + 1.56%), 6.08%, 09/11/2027 (aa) | 332 | 331 | ||||||
Intesa Sanpaolo SpA, (Italy), | ||||||||
(CMT Index 1 Year + 2.60%), 4.20%, 06/01/2032 (e) (aa) | 620 | 457 | ||||||
5.02%, 06/26/2024 (e) | 1,072 | 1,047 | ||||||
Reg. S, 5.15%, 06/10/2030 | GBP | 247 | 252 | |||||
5.71%, 01/15/2026 (e) | 300 | 286 | ||||||
Kasikornbank PCL, (Thailand), Reg. S, (CMT Index 5 Year + 4.94%), 5.28%, 10/14/2025 (x) (aa) |
10,400 | 9,764 | ||||||
KeyBank NA, (SOFR Compounded Index + 0.32%), 5.66%, 06/14/2024 (aa) | 250 | 246 | ||||||
Lloyds Banking Group plc, (United Kingdom), | ||||||||
4.58%, 12/10/2025 | 200 | 191 | ||||||
(CMT Index 1 Year + 1.48%), 5.99%, 08/07/2027 (aa) | 200 | 198 | ||||||
(CMT Index 5 Year + 3.91%), 8.00%, 09/27/2029 (x) (aa) | 1,225 | 1,099 | ||||||
Macquarie Bank Ltd., (Australia), | ||||||||
4.88%, 06/10/2025 (e) | 284 | 276 | ||||||
6.80%, 01/18/2033 (e) | 640 | 628 | ||||||
Macquarie Group Ltd., (Australia), | ||||||||
(United States SOFR + 1.07%), 1.34%, 01/12/2027 (e) (aa) | 105 | 94 | ||||||
(ICE LIBOR USD 3 Month + 1.37%), 3.76%, 11/28/2028 (e) (aa) | 400 | 363 | ||||||
6.21%, 11/22/2024 (e) | 188 | 188 | ||||||
Manufacturers & Traders Trust Co., 4.65%, 01/27/2026 | 610 | 581 | ||||||
Mitsubishi UFJ Financial Group, Inc., (Japan), | ||||||||
(CMT Index 1 Year + 0.45%), 0.96%, 10/11/2025 (aa) | 200 | 189 | ||||||
(CMT Index 1 Year + 1.70%), 4.79%, 07/18/2025 (aa) | 295 | 291 | ||||||
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa) | 200 | 198 | ||||||
(CMT Index 1 Year + 1.08%), 5.72%, 02/20/2026 (aa) | 200 | 199 | ||||||
Morgan Stanley, | ||||||||
(United States SOFR + 0.51%), 0.79%, 01/22/2025 (aa) | 250 | 245 | ||||||
(United States SOFR + 1.99%), 2.19%, 04/28/2026 (aa) | 323 | 304 | ||||||
(United States SOFR + 1.15%), 2.72%, 07/22/2025 (aa) | 840 | 815 | ||||||
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa) | 390 | 384 | ||||||
(United States SOFR + 1.30%), 5.05%, 01/28/2027 (aa) | 68 | 67 | ||||||
(United States SOFR + 1.73%), 5.12%, 02/01/2029 (aa) | 99 | 95 | ||||||
(United States SOFR + 1.63%), 5.45%, 07/20/2029 (aa) | 137 | 134 | ||||||
(United States SOFR + 1.77%), 6.14%, 10/16/2026 (aa) | 104 | 104 | ||||||
Nanyang Commercial Bank Ltd., (Hong Kong), Reg. S, (CMT Index 5 Year + 2.18%), 3.80%, 11/20/2029 (aa) | 300 | 288 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Banks continued | ||||||||
NatWest Group plc, (United Kingdom), | ||||||||
(ICE LIBOR USD 3 Month + 1.76%), 4.27%, 03/22/2025 (aa) | 1,400 | 1,385 | ||||||
(CMT Index 1 Year + 1.95%), 5.81%, 09/13/2029 (aa) | 413 | 401 | ||||||
(CMT Index 1 Year + 2.85%), 7.47%, 11/10/2026 (aa) | 513 | 523 | ||||||
Northern Trust Corp., 6.13%, 11/02/2032 | 410 | 405 | ||||||
PNC Financial Services Group, Inc. (The), | ||||||||
Series V, (CMT Index 5 Year + 3.24%), 6.20%, 09/15/2027 (x) (aa) | 654 | 601 | ||||||
Series W, (CMT Index 7 Year + 2.81%), 6.25%, 03/15/2030 (x) (aa) | 1,234 | 1,058 | ||||||
Santander Holdings USA, Inc., (United States SOFR + 2.33%), 5.81%, 09/09/2026 (aa) | 57 | 56 | ||||||
Santander UK Group Holdings plc, (United Kingdom), | ||||||||
(United States SOFR + 0.79%), 1.09%, 03/15/2025 (aa) | 200 | 195 | ||||||
4.75%, 09/15/2025 (e) | 200 | 191 | ||||||
Reg. S, (GBP Swap Rate 5 Year + 5.79%), 6.75%, 06/24/2024 (x) (aa) | GBP | 200 | 236 | |||||
Siam Commercial Bank PCL / Cayman Islands, (Thailand), Reg. S, 3.90%, 02/11/2024 | 2,000 | 1,985 | ||||||
Societe Generale SA, (France), | ||||||||
(USD Semi-annual Swap Rate 5 Year + 4.30%), 7.38%, 10/04/2023 (e) (x) (aa) | 200 | 200 | ||||||
Reg. S, (EUR Swap Rate 5 Year + 5.23%), 7.88%, 01/18/2029 (x) (aa) | EUR | 100 | 101 | |||||
Standard Chartered plc, (United Kingdom), | ||||||||
Reg. S, (CMT Index 5 Year + 3.81%), 4.75%, 01/14/2031 (x) (aa) | 2,100 | 1,496 | ||||||
5.20%, 01/26/2024 (e) | 585 | 583 | ||||||
Reg. S, (CMT Index 5 Year + 5.66%), 6.00%, 07/26/2025 (x) (aa) | 5,300 | 5,033 | ||||||
(CMT Index 1 Year + 1.85%), 6.19%, 07/06/2027 (e) (aa) | 2,100 | 2,092 | ||||||
Reg. S, (CMT Index 5 Year + 4.98%), 7.75%, 08/15/2027 (x) (aa) | 21,800 | 21,110 | ||||||
State Street Corp., (United States SOFR + 1.13%), 5.10%, 05/18/2026 (aa) | 112 | 111 | ||||||
Toronto-Dominion Bank (The), (Canada), | ||||||||
4.69%, 09/15/2027 | 173 | 167 | ||||||
5.53%, 07/17/2026 | 263 | 261 | ||||||
Truist Financial Corp., | ||||||||
(United States SOFR + 1.44%), 4.87%, 01/26/2029 (aa) | 73 | 69 | ||||||
(United States SOFR + 0.40%), 5.74%, 06/09/2025 (aa) | 344 | 336 | ||||||
UBS Group AG, (Switzerland), | ||||||||
(SOFR Compounded Index + 0.98%), 1.31%, 02/02/2027 (e) (aa) | 250 | 222 | ||||||
(CMT Index 1 Year + 0.85%), 1.49%, 08/10/2027 (e) (aa) | 647 | 565 | ||||||
(United States SOFR + 1.56%), 2.59%, 09/11/2025 (e) (aa) | 250 | 241 | ||||||
(ICE LIBOR USD 3 Month + 1.41%), 3.87%, 01/12/2029 (e) (aa) | 650 | 589 | ||||||
4.28%, 01/09/2028 (e) | 250 | 230 | ||||||
(CMT Index 5 Year + 3.31%), 4.38%, 02/10/2031 (e) (x) (aa) | 200 | 143 | ||||||
(CMT Index 1 Year + 1.55%), 4.49%, 05/12/2026 (e) (aa) | 504 | 488 | ||||||
(CMT Index 1 Year + 1.80%), 6.25%, 09/22/2029 (e) (aa) | 950 | 941 | ||||||
(CMT Index 1 Year + 2.00%), 6.30%, 09/22/2034 (e) (aa) | 809 | 790 | ||||||
Reg. S, (USD Semi-annual Swap Rate 5 Year + 4.59%), 6.88%, 08/07/2025 (x) (aa) | 200 | 188 | ||||||
Reg. S, (USD Semi-annual Swap Rate 5 Year + 4.87%), 7.00%, 02/19/2025 (x) (aa) | 200 | 194 | ||||||
UniCredit SpA, (Italy), | ||||||||
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 7.33%), 7.50%, 06/03/2026 (x) (aa) | EUR | 200 | 207 | |||||
7.83%, 12/04/2023 (e) | 700 | 700 | ||||||
US Bancorp, (United States SOFR + 2.02%), 5.78%, 06/12/2029 (aa) | 160 | 156 | ||||||
Wells Fargo & Co., | ||||||||
(CME Term SOFR 3 Month + 1.01%), 2.16%, 02/11/2026 (aa) | 222 | 210 | ||||||
(United States SOFR + 2.00%), 2.19%, 04/30/2026 (aa) | 111 | 104 | ||||||
(United States SOFR + 1.56%), 4.54%, 08/15/2026 (aa) | 223 | 217 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Banks continued | ||||||||
(United States SOFR + 1.98%), 4.81%, 07/25/2028 (aa) | 231 | 220 | ||||||
(United States SOFR + 1.74%), 5.57%, 07/25/2029 (aa) | 252 | 246 | ||||||
(CMT Index 5 Year + 3.61%), 7.63%, 09/15/2028 (x) (aa) | 1,974 | 1,990 | ||||||
|
|
|||||||
125,637 | ||||||||
|
|
|||||||
Diversified Financial Services 2.4% | ||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland), | ||||||||
2.88%, 08/14/2024 | 336 | 326 | ||||||
3.50%, 01/15/2025 | 347 | 335 | ||||||
Series 3NC1, 1.75%, 10/29/2024 | 1,100 | 1,049 | ||||||
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/2027 (e) | 534 | 537 | ||||||
Aircastle Ltd., (Bermuda), | ||||||||
5.25%, 08/11/2025 (e) | 120 | 117 | ||||||
6.50%, 07/18/2028 (e) | 611 | 599 | ||||||
Ally Financial, Inc., | ||||||||
1.45%, 10/02/2023 | 80 | 80 | ||||||
5.13%, 09/30/2024 | 250 | 246 | ||||||
5.75%, 11/20/2025 | 329 | 320 | ||||||
American Express Co., | ||||||||
3.95%, 08/01/2025 | 138 | 133 | ||||||
(United States SOFR + 1.00%), 4.99%, 05/01/2026 (aa) | 312 | 307 | ||||||
(United States SOFR + 1.28%), 5.28%, 07/27/2029 (aa) | 291 | 284 | ||||||
(United States SOFR + 0.97%), 5.39%, 07/28/2027 (aa) | 53 | 52 | ||||||
Aviation Capital Group LLC, | ||||||||
1.95%, 01/30/2026 (e) | 175 | 157 | ||||||
1.95%, 09/20/2026 (e) | 389 | 340 | ||||||
4.38%, 01/30/2024 (e) | 151 | 150 | ||||||
5.50%, 12/15/2024 (e) | 300 | 295 | ||||||
Avolon Holdings Funding Ltd., (Cayman Islands), | ||||||||
3.95%, 07/01/2024 (e) | 361 | 353 | ||||||
4.25%, 04/15/2026 (e) | 520 | 489 | ||||||
5.50%, 01/15/2026 (e) | 500 | 484 | ||||||
Bread Financial Holdings, Inc., 4.75%, 12/15/2024 (e) | 1,515 | 1,468 | ||||||
Capital One Financial Corp., | ||||||||
(United States SOFR + 1.37%), 4.17%, 05/09/2025 (aa) | 260 | 255 | ||||||
(United States SOFR + 0.69%), 6.03%, 12/06/2024 (aa) | 311 | 307 | ||||||
(United States SOFR + 2.86%), 6.38%, 06/08/2034 (aa) | 434 | 410 | ||||||
Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin, 3.88%, 02/15/2026 (e) | 250 | 222 | ||||||
Enact Holdings, Inc., 6.50%, 08/15/2025 (e) | 1,618 | 1,594 | ||||||
Encore Capital Group, Inc., Reg. S, 5.38%, 02/15/2026 | GBP | 200 | 224 | |||||
Garfunkelux Holdco 3 SA, (Luxembourg), Reg. S, 6.75%, 11/01/2025 | EUR | 200 | 162 | |||||
GGAM Finance Ltd., (Cayman Islands), | ||||||||
7.75%, 05/15/2026 (e) | 202 | 200 | ||||||
8.00%, 06/15/2028 (e) | 202 | 202 | ||||||
Global Aircraft Leasing Co. Ltd., (Cayman Islands), 6.50% (cash), 09/15/2024 (e) (v) | 162 | 155 | ||||||
Intrum AB, (Sweden), | ||||||||
Reg. S, 3.13%, 07/15/2024 | EUR | 78 | 80 | |||||
Reg. S, 4.88%, 08/15/2025 | EUR | 140 | 134 | |||||
Jefferies Finance LLC / JFIN Co-Issuer Corp., 5.00%, 08/15/2028 (e) | 3,731 | 3,142 | ||||||
LD Holdings Group LLC, 6.13%, 04/01/2028 (e) | 1,328 | 837 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Diversified Financial Services continued | ||||||||
LFS Topco LLC, 5.88%, 10/15/2026 (e) | 625 | 535 | ||||||
LPL Holdings, Inc., | ||||||||
4.38%, 05/15/2031 (e) | 225 | 193 | ||||||
4.63%, 11/15/2027 (e) | 245 | 226 | ||||||
Macquarie Airfinance Holdings Ltd., (United Kingdom), | ||||||||
8.13%, 03/30/2029 (e) | 1,207 | 1,209 | ||||||
8.38%, 05/01/2028 (e) | 325 | 329 | ||||||
Nationstar Mortgage Holdings, Inc., | ||||||||
5.00%, 02/01/2026 (e) | 5,724 | 5,346 | ||||||
5.13%, 12/15/2030 (e) | 2,266 | 1,840 | ||||||
5.50%, 08/15/2028 (e) | 1,951 | 1,721 | ||||||
5.75%, 11/15/2031 (e) | 118 | 97 | ||||||
6.00%, 01/15/2027 (e) | 1,339 | 1,265 | ||||||
Navient Corp., | ||||||||
5.50%, 03/15/2029 | 2,763 | 2,314 | ||||||
5.88%, 10/25/2024 | 190 | 187 | ||||||
6.13%, 03/25/2024 | 229 | 228 | ||||||
6.75%, 06/25/2025 | 674 | 664 | ||||||
9.38%, 07/25/2030 | 1,247 | 1,230 | ||||||
NFP Corp., | ||||||||
4.88%, 08/15/2028 (e) | 3,176 | 2,796 | ||||||
6.88%, 08/15/2028 (e) | 7,200 | 6,183 | ||||||
7.50%, 10/01/2030 (e) | 385 | 370 | ||||||
8.50%, 10/01/2031 (e) | 850 | 851 | ||||||
Nuveen Finance LLC, 4.13%, 11/01/2024 (e) | 270 | 263 | ||||||
OneMain Finance Corp., | ||||||||
3.50%, 01/15/2027 | 391 | 335 | ||||||
3.88%, 09/15/2028 | 1,100 | 883 | ||||||
4.00%, 09/15/2030 | 3,172 | 2,374 | ||||||
5.38%, 11/15/2029 | 301 | 252 | ||||||
6.13%, 03/15/2024 | 40 | 40 | ||||||
6.63%, 01/15/2028 | 255 | 235 | ||||||
6.88%, 03/15/2025 | 4,895 | 4,851 | ||||||
7.13%, 03/15/2026 | 746 | 731 | ||||||
9.00%, 01/15/2029 | 356 | 355 | ||||||
Park Aerospace Holdings Ltd., (Cayman Islands), 5.50%, 02/15/2024 (e) | 250 | 249 | ||||||
PennyMac Financial Services, Inc., | ||||||||
4.25%, 02/15/2029 (e) | 925 | 748 | ||||||
5.38%, 10/15/2025 (e) | 1,175 | 1,117 | ||||||
REC Ltd., (India), Reg. S, 3.50%, 12/12/2024 | 2,000 | 1,938 | ||||||
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc., | ||||||||
2.88%, 10/15/2026 (e) | 3,999 | 3,509 | ||||||
3.63%, 03/01/2029 (e) | 695 | 575 | ||||||
3.88%, 03/01/2031 (e) | 1,130 | 901 | ||||||
4.00%, 10/15/2033 (e) | 1,112 | 840 | ||||||
Shinhan Card Co. Ltd., (South Korea), Reg. S, 1.38%, 10/19/2025 | 2,500 | 2,270 | ||||||
Shriram Finance Ltd., (India), Reg. S, 4.40%, 03/13/2024 | 9,378 | 9,242 | ||||||
SLM Corp., 3.13%, 11/02/2026 | 61 | 53 | ||||||
|
|
|||||||
75,390 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Insurance 2.0% | ||||||||
Acrisure LLC / Acrisure Finance, Inc., 6.00%, 08/01/2029 (e) | 57 | 48 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, | ||||||||
4.25%, 10/15/2027 (e) | 5,809 | 5,186 | ||||||
5.88%, 11/01/2029 (e) | 6,373 | 5,519 | ||||||
6.75%, 10/15/2027 (e) | 11,157 | 10,376 | ||||||
6.75%, 04/15/2028 (e) | 2,409 | 2,325 | ||||||
AmWINS Group, Inc., 4.88%, 06/30/2029 (e) | 1,509 | 1,322 | ||||||
Aon Corp., 8.21%, 01/01/2027 | 269 | 282 | ||||||
BroadStreet Partners, Inc., 5.88%, 04/15/2029 (e) | 1,636 | 1,443 | ||||||
CNO Financial Group, Inc., 5.25%, 05/30/2025 | 250 | 245 | ||||||
CNO Global Funding, 1.75%, 10/07/2026 (e) | 406 | 357 | ||||||
Corebridge Global Funding, 5.75%, 07/02/2026 (e) | 66 | 65 | ||||||
Equitable Financial Life Global Funding, | ||||||||
1.40%, 07/07/2025 (e) | 183 | 168 | ||||||
5.45%, 03/03/2028 (e) | 182 | 178 | ||||||
F&G Annuities & Life, Inc., 7.40%, 01/13/2028 (e) | 92 | 92 | ||||||
F&G Global Funding, | ||||||||
1.75%, 06/30/2026 (e) | 220 | 194 | ||||||
2.30%, 04/11/2027 (e) | 444 | 387 | ||||||
FWD Group Holdings Ltd., (Cayman Islands), | ||||||||
Reg. S, (CMT Index 5 Year + 4.88%), 6.38%, 09/13/2024 (x) (aa) | 1,500 | 1,328 | ||||||
Reg. S, (CMT Index 5 Year + 4.87%), 8.05%, 12/15/2023 (x) (aa) | 7,600 | 7,067 | ||||||
GA Global Funding Trust, | ||||||||
0.80%, 09/13/2024 (e) | 674 | 636 | ||||||
3.85%, 04/11/2025 (e) | 483 | 464 | ||||||
Galaxy Bidco Ltd., (Jersey), Reg. S, 6.50%, 07/31/2026 | GBP | 157 | 177 | |||||
GTCR AP Finance, Inc., 8.00%, 05/15/2027 (e) | 1,631 | 1,603 | ||||||
HUB International Ltd., | ||||||||
7.00%, 05/01/2026 (e) | 4,313 | 4,304 | ||||||
7.25%, 06/15/2030 (e) | 6,956 | 6,943 | ||||||
Jackson National Life Global Funding, 5.50%, 01/09/2026 (e) | 500 | 489 | ||||||
Jones Deslauriers Insurance Management, Inc., (Canada), | ||||||||
8.50%, 03/15/2030 (e) | 2,293 | 2,310 | ||||||
10.50%, 12/15/2030 (e) | 1,119 | 1,138 | ||||||
Muang Thai Life Assurance PCL, (Thailand), Reg. S, (CMT Index 10 Year + 2.40%), 3.55%, 01/27/2037 (aa) |
2,400 | 2,125 | ||||||
Mutual of Omaha Cos. Global Funding, 5.80%, 07/27/2026 (e) | 65 | 64 | ||||||
Peak RE Bvi Holding Ltd., (British Virgin Islands), Reg. S, (CMT Index 5 Year + 5.01%), 5.35%, 10/28/2025 (x) (aa) | 2,200 | 1,830 | ||||||
Ryan Specialty LLC, 4.38%, 02/01/2030 (e) | 776 | 676 | ||||||
Tongyang Life Insurance Co. Ltd., (South Korea), Reg. S, (CMT Index 5 Year + 4.98%), 5.25%, 09/22/2025 (x) (aa) | 2,000 | 1,760 | ||||||
ZhongAn Online P&C Insurance Co. Ltd., (China), Reg. S, 3.13%, 07/16/2025 | 4,750 | 4,211 | ||||||
|
|
|||||||
65,312 | ||||||||
|
|
|||||||
Investment Companies 1.5% | ||||||||
Ares Capital Corp., 7.00%, 01/15/2027 | 630 | 630 | ||||||
Blackstone Private Credit Fund, | ||||||||
3.25%, 03/15/2027 | 498 | 433 | ||||||
7.05%, 09/29/2025 | 602 | 603 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Investment Companies continued | ||||||||
Blue Owl Capital Corp., | ||||||||
3.40%, 07/15/2026 | 424 | 380 | ||||||
3.75%, 07/22/2025 | 529 | 496 | ||||||
Blue Owl Credit Income Corp., | ||||||||
3.13%, 09/23/2026 | 284 | 250 | ||||||
5.50%, 03/21/2025 | 195 | 188 | ||||||
7.75%, 09/16/2027 | 1,603 | 1,590 | ||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/2029 (e) | 1,450 | 1,267 | ||||||
Huarong Finance 2017 Co. Ltd., (British Virgin Islands), | ||||||||
Reg. S, 4.25%, 11/07/2027 | 1,900 | 1,577 | ||||||
Reg. S, 4.75%, 04/27/2027 | 7,300 | 6,234 | ||||||
Huarong Finance 2019 Co. Ltd., (British Virgin Islands), | ||||||||
Reg. S, 3.25%, 11/13/2024 | 2,200 | 2,063 | ||||||
Reg. S, 3.75%, 05/29/2024 | 3,800 | 3,670 | ||||||
Reg. S, 3.88%, 11/13/2029 | 4,300 | 3,379 | ||||||
Reg. S, 4.50%, 05/29/2029 | 9,700 | 7,697 | ||||||
Reg. S, (ICE LIBOR USD 3 Month + 1.25%), 6.89%, 02/24/2025 (aa) | 1,400 | 1,306 | ||||||
Huarong Finance II Co. Ltd., (British Virgin Islands), | ||||||||
Reg. S, 4.63%, 06/03/2026 | 1,600 | 1,399 | ||||||
Reg. S, 5.00%, 11/19/2025 | 10,200 | 9,159 | ||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp., | ||||||||
4.38%, 02/01/2029 | 1,816 | 1,452 | ||||||
5.25%, 05/15/2027 | 3,628 | 3,189 | ||||||
6.25%, 05/15/2026 | 358 | 333 | ||||||
|
|
|||||||
47,295 | ||||||||
|
|
|||||||
Real Estate 2.2% | ||||||||
ADLER Group SA, (Luxembourg), 21.00%, 07/31/2025 (v) (w) (bb) | EUR | 100 | 106 | |||||
Agile Group Holdings Ltd., (Cayman Islands), | ||||||||
Reg. S, 5.50%, 04/21/2025 | 6,300 | 789 | ||||||
Reg. S, 5.50%, 05/17/2026 | 1,700 | 140 | ||||||
Reg. S, 5.75%, 01/02/2025 | 7,350 | 974 | ||||||
Reg. S, 6.05%, 10/13/2025 | 800 | 68 | ||||||
Agps Bondco plc, (United Kingdom), | ||||||||
Reg. S, 5.50%, 11/13/2026 | EUR | 200 | 84 | |||||
Reg. S, 6.00%, 08/05/2025 | EUR | 100 | 45 | |||||
Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp., | ||||||||
7.00%, 04/15/2030 (e) | 429 | 387 | ||||||
Series AI, 7.00%, 04/15/2030 | 2,090 | 1,886 | ||||||
China SCE Group Holdings Ltd., (Cayman Islands), | ||||||||
Reg. S, 5.95%, 09/29/2024 | 3,450 | 259 | ||||||
Reg. S, 6.00%, 02/04/2026 | 4,300 | 183 | ||||||
CIFI Holdings Group Co. Ltd., (Cayman Islands), | ||||||||
Reg. S, 4.45%, 08/17/2026 (d) | 4,450 | 312 | ||||||
Reg. S, 6.00%, 07/16/2025 (d) | 2,700 | 189 | ||||||
Country Garden Holdings Co. Ltd., (Cayman Islands), | ||||||||
Reg. S, 2.70%, 07/12/2026 (d) | 5,900 | 383 | ||||||
Reg. S, 3.13%, 10/22/2025 (d) | 3,220 | 201 | ||||||
Reg. S, 3.88%, 10/22/2030 (d) | 4,773 | 279 | ||||||
Reg. S, 4.20%, 02/06/2026 (d) | 6,700 | 439 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Real Estate continued | ||||||||
Reg. S, 4.80%, 08/06/2030 (d) | 4,079 | 244 | ||||||
Reg. S, 5.13%, 01/14/2027 (d) | 12,752 | 803 | ||||||
Reg. S, 5.40%, 05/27/2025 (d) | 600 | 37 | ||||||
Reg. S, 5.63%, 01/14/2030 (d) | 3,200 | 213 | ||||||
Reg. S, 7.25%, 04/08/2026 (d) | 10,500 | 643 | ||||||
Reg. S, 8.00%, 01/27/2024 (d) | 1,200 | 106 | ||||||
Cushman & Wakefield US Borrower LLC, 6.75%, 05/15/2028 (e) | 2,168 | 2,000 | ||||||
DIC Asset AG, (Germany), Reg. S, 2.25%, 09/22/2026 | EUR | 100 | 57 | |||||
Easy Tactic Ltd., (British Virgin Islands), | ||||||||
Reg. S, 7.50% (PIK), 07/11/2025 (v) | 415 | 28 | ||||||
Reg. S, 7.50% (PIK), 07/11/2027 (v) | 15,367 | 932 | ||||||
Reg. S, 7.50% (PIK), 07/11/2028 (v) | 11,226 | 528 | ||||||
Five Point Operating Co. LP / Five Point Capital Corp., 7.88%, 11/15/2025 (e) | 2,705 | 2,552 | ||||||
Global Prime Capital Pte Ltd., (Singapore), Reg. S, 5.95%, 01/23/2025 | 1,000 | 973 | ||||||
GLP Pte Ltd., (Singapore), | ||||||||
Reg. S, (CMT Index 5 Year + 3.74%), 4.50%, 05/17/2026 (x) (aa) | 700 | 252 | ||||||
Reg. S, (CMT Index 5 Year + 3.73%), 4.60%, 06/29/2027 (x) (aa) | 2,260 | 791 | ||||||
Greenland Global Investment Ltd., (British Virgin Islands), Reg. S, 8.25% (PIK), 01/22/2031 (d) (v) | 8,700 | 618 | ||||||
Greystar Real Estate Partners LLC, 7.75%, 09/01/2030 (e) | 400 | 395 | ||||||
Heimstaden Bostad AB, (Sweden), Reg. S, (EUR Swap Rate 5 Year + 3.91%), 3.38%, 01/15/2026 (x) (aa) | EUR | 150 | 76 | |||||
Heimstaden Bostad Treasury BV, (Netherlands), Reg. S, 1.00%, 04/13/2028 | EUR | 100 | 77 | |||||
Howard Hughes Corp. (The), | ||||||||
4.13%, 02/01/2029 (e) | 206 | 165 | ||||||
4.38%, 02/01/2031 (e) | 2,673 | 2,051 | ||||||
5.38%, 08/01/2028 (e) | 2,500 | 2,202 | ||||||
Hunt Cos., Inc., 5.25%, 04/15/2029 (e) | 2,740 | 2,152 | ||||||
KWG Group Holdings Ltd., (Cayman Islands), Reg. S, 5.95%, 08/10/2025 (d) | 4,400 | 352 | ||||||
New Metro Global Ltd., (British Virgin Islands), | ||||||||
Reg. S, 4.50%, 05/02/2026 | 1,100 | 233 | ||||||
Reg. S, 4.80%, 12/15/2024 | 3,700 | 1,332 | ||||||
NWD Finance BVI Ltd., (British Virgin Islands), | ||||||||
Reg. S, (CMT Index 5 Year + 5.86%), 4.13%, 03/10/2028 (x) (aa) | 8,000 | 3,880 | ||||||
Reg. S, 4.80%, 10/30/2023 (x) | 1,600 | 654 | ||||||
Reg. S, (CMT Index 5 Year + 7.89%), 5.25%, 03/22/2026 (x) (aa) | 21,900 | 12,257 | ||||||
Reg. S, (CMT Index 3 Year + 6.20%), 6.15%, 03/16/2025 (x) (aa) | 2,700 | 1,942 | ||||||
Pakuwon Jati Tbk. PT, (Indonesia), Reg. S, 4.88%, 04/29/2028 | 1,000 | 898 | ||||||
PCPD Capital Ltd., (Cayman Islands), Reg. S, 5.13%, 06/18/2026 | 3,275 | 2,369 | ||||||
Powerlong Real Estate Holdings Ltd., (Cayman Islands), Reg. S, 5.95%, 04/30/2025 | 4,700 | 376 | ||||||
Realogy Group LLC / Realogy Co-Issuer Corp., | ||||||||
5.25%, 04/15/2030 (e) | 500 | 347 | ||||||
5.75%, 01/15/2029 (e) | 611 | 442 | ||||||
RKPF Overseas 2019 A Ltd., (British Virgin Islands), Reg. S, 6.00%, 09/04/2025 | 2,000 | 921 | ||||||
RKPF Overseas 2020 A Ltd., (British Virgin Islands), | ||||||||
Reg. S, 5.13%, 07/26/2026 | 12,450 | 4,051 | ||||||
Reg. S, 5.20%, 01/12/2026 | 1,000 | 368 | ||||||
Seazen Group Ltd., (Cayman Islands), Reg. S, 4.45%, 07/13/2025 | 3,248 | 861 | ||||||
Shui On Development Holding Ltd., (Cayman Islands), | ||||||||
Reg. S, 5.50%, 06/29/2026 | 3,800 | 1,672 | ||||||
Reg. S, 6.15%, 08/24/2024 | 600 | 381 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Real Estate continued | ||||||||
Sino-Ocean Land Treasure IV Ltd., (British Virgin Islands), | ||||||||
Reg. S, 2.70%, 01/13/2025 (d) | 6,200 | 352 | ||||||
Reg. S, 3.25%, 05/05/2026 (d) | 10,620 | 591 | ||||||
Sunac China Holdings Ltd., (Cayman Islands), | ||||||||
Reg. S, 5.95%, 04/26/2024 (d) | 1,500 | 233 | ||||||
Reg. S, 6.50%, 07/09/2023 (d) | 9,400 | 1,372 | ||||||
Reg. S, 6.80%, 10/20/2024 (d) | 6,800 | 1,054 | ||||||
Reg. S, 7.95%, 10/11/2023 (d) | 2,000 | 300 | ||||||
Times China Holdings Ltd., (Cayman Islands), | ||||||||
Reg. S, 5.55%, 06/04/2024 (d) | 8,800 | 264 | ||||||
Reg. S, 6.60%, 03/02/2023 (d) | 1,200 | 36 | ||||||
Vivion Investments Sarl, (Luxembourg), Reg. S, 3.00%, 08/08/2024 | EUR | 100 | 96 | |||||
VLL International, Inc., (Cayman Islands), Reg. S, 5.75%, 11/28/2024 | 4,400 | 4,294 | ||||||
Wanda Properties Global Co. Ltd., (British Virgin Islands), Reg. S, 11.00%, 02/13/2026 | 900 | 337 | ||||||
Wanda Properties International Co. Ltd., (British Virgin Islands), Reg. S, 7.25%, 01/29/2024 | 2,350 | 1,387 | ||||||
Yanlord Land HK Co. Ltd., (Hong Kong), Reg. S, 5.13%, 05/20/2026 | 6,200 | 3,596 | ||||||
|
|
|||||||
71,867 | ||||||||
|
|
|||||||
REITS 1.3% | ||||||||
American Tower Corp., | ||||||||
1.60%, 04/15/2026 | 28 | 25 | ||||||
3.60%, 01/15/2028 | 240 | 218 | ||||||
3.65%, 03/15/2027 | 429 | 397 | ||||||
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 4.50%, 04/01/2027 (e) | 65 | 54 | ||||||
Diversified Healthcare Trust, | ||||||||
4.38%, 03/01/2031 | 1,950 | 1,350 | ||||||
4.75%, 05/01/2024 | 250 | 236 | ||||||
4.75%, 02/15/2028 | 4,100 | 2,974 | ||||||
9.75%, 06/15/2025 | 333 | 321 | ||||||
EPR Properties, 4.75%, 12/15/2026 | 247 | 226 | ||||||
GLP Capital LP / GLP Financing II, Inc., | ||||||||
3.25%, 01/15/2032 | 1,404 | 1,089 | ||||||
5.25%, 06/01/2025 | 139 | 136 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC, 3.38%, 06/15/2026 (e) | 1,208 | 1,074 | ||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/2032 (e) | 986 | 810 | ||||||
Iron Mountain UK plc, (United Kingdom), Reg. S, 3.88%, 11/15/2025 | GBP | 100 | 115 | |||||
Iron Mountain, Inc., 7.00%, 02/15/2029 (e) | 2,686 | 2,628 | ||||||
Kite Realty Group Trust, 4.00%, 03/15/2025 | 99 | 95 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., | ||||||||
4.75%, 06/15/2029 (e) | 19 | 15 | ||||||
5.25%, 10/01/2025 (e) | 201 | 194 | ||||||
MPT Operating Partnership LP / MPT Finance Corp., | ||||||||
2.50%, 03/24/2026 | GBP | 979 | 905 | |||||
2.55%, 12/05/2023 | GBP | 340 | 402 | |||||
3.50%, 03/15/2031 | 2,990 | 1,868 | ||||||
4.63%, 08/01/2029 | 5,063 | 3,586 | ||||||
5.00%, 10/15/2027 | 937 | 726 | ||||||
RHP Hotel Properties LP / RHP Finance Corp., | ||||||||
4.50%, 02/15/2029 (e) | 1,923 | 1,645 | ||||||
4.75%, 10/15/2027 | 1,824 | 1,660 | ||||||
7.25%, 07/15/2028 (e) | 1,460 | 1,434 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
REITS continued | ||||||||
RLJ Lodging Trust LP, 4.00%, 09/15/2029 (e) | 159 | 130 | ||||||
Sabra Health Care LP, 5.13%, 08/15/2026 | 250 | 239 | ||||||
SBA Communications Corp., | ||||||||
3.13%, 02/01/2029 | 3,301 | 2,748 | ||||||
3.88%, 02/15/2027 | 1,956 | 1,792 | ||||||
Service Properties Trust, 7.50%, 09/15/2025 | 743 | 730 | ||||||
Starwood Property Trust, Inc., 5.50%, 11/01/2023 (e) | 2 | 2 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 10.50%, 02/15/2028 (e) | 3,178 | 3,113 | ||||||
VICI Properties LP, | ||||||||
4.95%, 02/15/2030 | 1,554 | 1,421 | ||||||
5.63%, 05/15/2052 | 1,322 | 1,097 | ||||||
VICI Properties LP / VICI Note Co., Inc., | ||||||||
3.50%, 02/15/2025 (e) | 329 | 315 | ||||||
3.75%, 02/15/2027 (e) | 105 | 95 | ||||||
4.13%, 08/15/2030 (e) | 146 | 124 | ||||||
4.50%, 01/15/2028 (e) | 500 | 457 | ||||||
4.63%, 06/15/2025 (e) | 221 | 213 | ||||||
4.63%, 12/01/2029 (e) | 2,754 | 2,443 | ||||||
5.63%, 05/01/2024 (e) | 230 | 229 | ||||||
5.75%, 02/01/2027 (e) | 1,088 | 1,053 | ||||||
Vornado Realty LP, 3.50%, 01/15/2025 | 219 | 208 | ||||||
WEA Finance LLC / Westfield UK & Europe Finance plc, 3.75%, 09/17/2024 (e) | 500 | 481 | ||||||
|
|
|||||||
41,073 | ||||||||
|
|
|||||||
Total Financial | 426,574 | |||||||
|
|
|||||||
Industrial 10.4% | ||||||||
Aerospace/Defense 2.6% | ||||||||
Boeing Co. (The), | ||||||||
1.43%, 02/04/2024 | 800 | 787 | ||||||
5.81%, 05/01/2050 | 1,505 | 1,372 | ||||||
5.93%, 05/01/2060 | 4,120 | 3,695 | ||||||
Bombardier, Inc., (Canada), | ||||||||
6.00%, 02/15/2028 (e) | 3,143 | 2,851 | ||||||
7.13%, 06/15/2026 (e) | 7,905 | 7,659 | ||||||
7.45%, 05/01/2034 (e) | 351 | 398 | ||||||
7.50%, 03/15/2025 (e) | 868 | 864 | ||||||
7.50%, 02/01/2029 (e) | 5,083 | 4,824 | ||||||
7.88%, 04/15/2027 (e) | 9,693 | 9,456 | ||||||
Embraer Netherlands Finance BV, (Netherlands), 7.00%, 07/28/2030 (e) | 1,743 | 1,729 | ||||||
F-Brasile SpA / F-Brasile US LLC, (Italy), Series XR, 7.38%, 08/15/2026 (e) | 2,600 | 2,417 | ||||||
HEICO Corp., 5.25%, 08/01/2028 | 78 | 76 | ||||||
Hexcel Corp., 4.95%, 08/15/2025 | 136 | 133 | ||||||
Rolls-Royce plc, (United Kingdom), | ||||||||
3.63%, 10/14/2025 (e) | 364 | 340 | ||||||
5.75%, 10/15/2027 (e) | 2,302 | 2,222 | ||||||
Spirit AeroSystems, Inc., | ||||||||
7.50%, 04/15/2025 (e) | 1,554 | 1,525 | ||||||
9.38%, 11/30/2029 (e) | 3,601 | 3,667 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Aerospace/Defense continued | ||||||||
TransDigm, Inc., | ||||||||
5.50%, 11/15/2027 | 400 | 375 | ||||||
6.25%, 03/15/2026 (e) | 23,447 | 23,107 | ||||||
6.75%, 08/15/2028 (e) | 11,379 | 11,203 | ||||||
6.88%, 12/15/2030 (e) | 867 | 849 | ||||||
7.50%, 03/15/2027 | 676 | 677 | ||||||
Triumph Group, Inc., 9.00%, 03/15/2028 (e) | 3,939 | 3,895 | ||||||
|
|
|||||||
84,121 | ||||||||
|
|
|||||||
Building Materials 1.3% | ||||||||
Camelot Return Merger Sub, Inc., 8.75%, 08/01/2028 (e) | 3,297 | 3,177 | ||||||
Cornerstone Building Brands, Inc., 6.13%, 01/15/2029 (e) | 500 | 379 | ||||||
Eco Material Technologies, Inc., 7.88%, 01/31/2027 (e) | 2,100 | 2,002 | ||||||
Emerald Debt Merger Sub LLC, | ||||||||
6.38%, 12/15/2030 (e) | EUR | 731 | 770 | |||||
6.63%, 12/15/2030 (e) | 11,625 | 11,200 | ||||||
Griffon Corp., 5.75%, 03/01/2028 | 655 | 595 | ||||||
JELD-WEN, Inc., 4.63%, 12/15/2025 (e) | 1,487 | 1,428 | ||||||
Knife River Corp., 7.75%, 05/01/2031 (e) | 425 | 426 | ||||||
Masonite International Corp., (Canada), | ||||||||
3.50%, 02/15/2030 (e) | 97 | 79 | ||||||
5.38%, 02/01/2028 (e) | 588 | 547 | ||||||
MIWD Holdco II LLC / MIWD Finance Corp., 5.50%, 02/01/2030 (e) | 1,150 | 950 | ||||||
New Enterprise Stone & Lime Co., Inc., | ||||||||
5.25%, 07/15/2028 (e) | 881 | 791 | ||||||
9.75%, 07/15/2028 (e) | 1,023 | 1,010 | ||||||
PCF GmbH, (Germany), Reg. S, 4.75%, 04/15/2026 | EUR | 100 | 82 | |||||
Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/2028 (e) | 4,969 | 4,589 | ||||||
Standard Industries, Inc., | ||||||||
Reg. S, 2.25%, 11/21/2026 | EUR | 467 | 435 | |||||
3.38%, 01/15/2031 (e) | 5,003 | 3,868 | ||||||
4.38%, 07/15/2030 (e) | 2,135 | 1,771 | ||||||
4.75%, 01/15/2028 (e) | 157 | 141 | ||||||
5.00%, 02/15/2027 (e) | 701 | 650 | ||||||
Summit Materials LLC / Summit Materials Finance Corp., 5.25%, 01/15/2029 (e) | 38 | 34 | ||||||
Vulcan Materials Co., 5.80%, 03/01/2026 | 191 | 190 | ||||||
West China Cement Ltd., (Jersey), Reg. S, 4.95%, 07/08/2026 | 9,200 | 6,445 | ||||||
|
|
|||||||
41,559 | ||||||||
|
|
|||||||
Electrical Components & Equipments 0.3% | ||||||||
Energizer Holdings, Inc., | ||||||||
4.38%, 03/31/2029 (e) | 750 | 626 | ||||||
6.50%, 12/31/2027 (e) | 1,050 | 994 | ||||||
EnerSys, 4.38%, 12/15/2027 (e) | 560 | 509 | ||||||
WESCO Distribution, Inc., | ||||||||
7.13%, 06/15/2025 (e) | 3,369 | 3,377 | ||||||
7.25%, 06/15/2028 (e) | 3,512 | 3,539 | ||||||
|
|
|||||||
9,045 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Electronics 0.5% | ||||||||
AAC Technologies Holdings, Inc., (Cayman Islands), Reg. S, 3.00%, 11/27/2024 | 7,350 | 6,946 | ||||||
Coherent Corp., 5.00%, 12/15/2029 (e) | 1,775 | 1,539 | ||||||
Imola Merger Corp., 4.75%, 05/15/2029 (e) | 2,492 | 2,184 | ||||||
Likewize Corp., 9.75%, 10/15/2025 (e) | 1,780 | 1,763 | ||||||
Sensata Technologies BV, (Netherlands), | ||||||||
4.00%, 04/15/2029 (e) | 74 | 64 | ||||||
5.88%, 09/01/2030 (e) | 464 | 432 | ||||||
Sensata Technologies, Inc., | ||||||||
3.75%, 02/15/2031 (e) | 326 | 264 | ||||||
4.38%, 02/15/2030 (e) | 3,942 | 3,404 | ||||||
TD SYNNEX Corp., 1.25%, 08/09/2024 | 825 | 788 | ||||||
|
|
|||||||
17,384 | ||||||||
|
|
|||||||
Engineering & Construction 1.0% | ||||||||
Abertis Infraestructuras Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 3.69%), 3.25%, 11/24/2025 (x) (aa) | EUR | 300 | 289 | |||||
Arcosa, Inc., 4.38%, 04/15/2029 (e) | 1,705 | 1,488 | ||||||
Azzurra Aeroporti SpA, (Italy), Reg. S, 2.13%, 05/30/2024 | EUR | 323 | 334 | |||||
Brand Industrial Services, Inc., 10.38%, 08/01/2030 (e) | 5,852 | 5,893 | ||||||
Celestial Miles Ltd., (British Virgin Islands), Reg. S, (CMT Index 5 Year + 8.21%), 5.75%, 01/31/2024 (x) (aa) | 11,500 | 11,074 | ||||||
Cellnex Finance Co. SA, (Spain), | ||||||||
Reg. S, 1.00%, 09/15/2027 | EUR | 100 | 92 | |||||
Reg. S, 1.25%, 01/15/2029 | EUR | 300 | 265 | |||||
Reg. S, 1.50%, 06/08/2028 | EUR | 100 | 91 | |||||
Reg. S, 2.00%, 02/15/2033 | EUR | 100 | 81 | |||||
Cellnex Telecom SA, (Spain), Reg. S, 1.75%, 10/23/2030 | EUR | 100 | 86 | |||||
Dycom Industries, Inc., 4.50%, 04/15/2029 (e) | 343 | 297 | ||||||
GMR Hyderabad International Airport Ltd., (India), | ||||||||
Reg. S, 4.25%, 10/27/2027 | 1,700 | 1,507 | ||||||
Reg. S, 4.75%, 02/02/2026 | 7,650 | 7,217 | ||||||
Heathrow Finance plc, (United Kingdom), Reg. S, 5.75%, 03/03/2025 | GBP | 200 | 238 | |||||
India Airport Infra, (Mauritius), Reg. S, 6.25%, 10/25/2025 | 966 | 941 | ||||||
Infrastrutture Wireless Italiane SpA, (Italy), Reg. S, 1.63%, 10/21/2028 | EUR | 200 | 185 | |||||
Jacobs Engineering Group, Inc., 6.35%, 08/18/2028 | 309 | 308 | ||||||
TopBuild Corp., 3.63%, 03/15/2029 (e) | 500 | 426 | ||||||
Webuild SpA, (Italy), Reg. S, 7.00%, 09/27/2028 | EUR | 100 | 103 | |||||
|
|
|||||||
30,915 | ||||||||
|
|
|||||||
Environmental Control 0.6% | ||||||||
Clean Harbors, Inc., | ||||||||
4.88%, 07/15/2027 (e) | 252 | 237 | ||||||
5.13%, 07/15/2029 (e) | 41 | 38 | ||||||
6.38%, 02/01/2031 (e) | 774 | 753 | ||||||
Covanta Holding Corp., | ||||||||
4.88%, 12/01/2029 (e) | 1,415 | 1,161 | ||||||
5.00%, 09/01/2030 | 781 | 630 | ||||||
GFL Environmental, Inc., (Canada), | ||||||||
3.50%, 09/01/2028 (e) | 459 | 395 | ||||||
3.75%, 08/01/2025 (e) | 811 | 769 | ||||||
4.00%, 08/01/2028 (e) | 1,587 | 1,387 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Environmental Control continued | ||||||||
4.25%, 06/01/2025 (e) | 78 | 75 | ||||||
4.38%, 08/15/2029 (e) | 1,962 | 1,704 | ||||||
4.75%, 06/15/2029 (e) | 2,403 | 2,136 | ||||||
5.13%, 12/15/2026 (e) | 2,644 | 2,518 | ||||||
Madison IAQ LLC, 5.88%, 06/30/2029 (e) | 1,191 | 959 | ||||||
Paprec Holding SA, (France), Reg. S, 3.50%, 07/01/2028 | EUR | 100 | 94 | |||||
Veralto Corp., | ||||||||
5.35%, 09/18/2028 (e) | 188 | 186 | ||||||
5.50%, 09/18/2026 (e) | 215 | 214 | ||||||
Waste Pro USA, Inc., 5.50%, 02/15/2026 (e) | 5,662 | 5,289 | ||||||
|
|
|||||||
18,545 | ||||||||
|
|
|||||||
Hand/Machine Tools 0.2% | ||||||||
Regal Rexnord Corp., | ||||||||
6.05%, 02/15/2026 (e) | 114 | 112 | ||||||
6.05%, 04/15/2028 (e) | 2,290 | 2,228 | ||||||
6.30%, 02/15/2030 (e) | 1,600 | 1,546 | ||||||
6.40%, 04/15/2033 (e) | 1,490 | 1,436 | ||||||
|
|
|||||||
5,322 | ||||||||
|
|
|||||||
MachineryConstruction & Mining 0.2% | ||||||||
BWX Technologies, Inc., | ||||||||
4.13%, 06/30/2028 (e) | 341 | 301 | ||||||
4.13%, 04/15/2029 (e) | 2,058 | 1,801 | ||||||
Terex Corp., 5.00%, 05/15/2029 (e) | 2,552 | 2,285 | ||||||
Vertiv Group Corp., 4.13%, 11/15/2028 (e) | 2,875 | 2,538 | ||||||
Weir Group plc (The), (United Kingdom), 2.20%, 05/13/2026 (e) | 400 | 360 | ||||||
|
|
|||||||
7,285 | ||||||||
|
|
|||||||
MachineryDiversified 0.8% | ||||||||
ATS Corp., (Canada), 4.13%, 12/15/2028 (e) | 114 | 101 | ||||||
Chart Industries, Inc., | ||||||||
7.50%, 01/01/2030 (e) | 3,342 | 3,360 | ||||||
9.50%, 01/01/2031 (e) | 1,618 | 1,720 | ||||||
GrafTech Finance, Inc., 4.63%, 12/15/2028 (e) | 1,201 | 929 | ||||||
GrafTech Global Enterprises, Inc., 9.88%, 12/15/2028 (e) | 1,337 | 1,267 | ||||||
Husky III Holding Ltd., (Canada), 13.00% (cash), 02/15/2025 (e) (v) | 122 | 121 | ||||||
Maxim Crane Works Holdings Capital LLC, 11.50%, 09/01/2028 (e) | 1,425 | 1,388 | ||||||
Mueller Water Products, Inc., 4.00%, 06/15/2029 (e) | 1,088 | 947 | ||||||
Novafives SAS, (France), Reg. S, 5.00%, 06/15/2025 | EUR | 100 | 102 | |||||
OT Merger Corp., 7.88%, 10/15/2029 (e) | 394 | 241 | ||||||
Renk AG / Frankfurt am Main, (Germany), Reg. S, 5.75%, 07/15/2025 | EUR | 200 | 210 | |||||
Titan Acquisition Ltd. / Titan Co-Borrower LLC, (Multinational), 7.75%, 04/15/2026 (e) | 6,520 | 6,390 | ||||||
TK Elevator Holdco GmbH, (Germany), | ||||||||
Reg. S, 6.63%, 07/15/2028 | EUR | 577 | 532 | |||||
7.63%, 07/15/2028 (e) | 2,311 | 2,103 | ||||||
TK Elevator Midco GmbH, (Germany), Reg. S, 4.38%, 07/15/2027 | EUR | 953 | 911 | |||||
TK Elevator US Newco, Inc., 5.25%, 07/15/2027 (e) | 7,016 | 6,457 | ||||||
|
|
|||||||
26,779 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Metal Fabricate/Hardware 0.1% | ||||||||
Advanced Drainage Systems, Inc., | ||||||||
5.00%, 09/30/2027 (e) | 564 | 529 | ||||||
6.38%, 06/15/2030 (e) | 2,049 | 1,968 | ||||||
Roller Bearing Co. of America, Inc., 4.38%, 10/15/2029 (e) | 695 | 598 | ||||||
Vallourec SACA, (France), Reg. S, 8.50%, 06/30/2026 | EUR | 200 | 211 | |||||
|
|
|||||||
3,306 | ||||||||
|
|
|||||||
Miscellaneous Manufacturers 0.1% | ||||||||
Amsted Industries, Inc., | ||||||||
4.63%, 05/15/2030 (e) | 1,391 | 1,178 | ||||||
5.63%, 07/01/2027 (e) | 297 | 280 | ||||||
Gates Global LLC / Gates Corp., 6.25%, 01/15/2026 (e) | 2,751 | 2,680 | ||||||
Trinity Industries, Inc., 7.75%, 07/15/2028 (e) | 775 | 780 | ||||||
|
|
|||||||
4,918 | ||||||||
|
|
|||||||
Packaging & Containers 2.0% | ||||||||
ARD Finance SA, (Luxembourg), 6.50% (cash), 06/30/2027 (e) (v) | 5,528 | 4,172 | ||||||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc, (Multinational), | ||||||||
Reg. S, 2.00%, 09/01/2028 | EUR | 100 | 88 | |||||
Reg. S, 3.00%, 09/01/2029 | EUR | 521 | 417 | |||||
3.25%, 09/01/2028 (e) | 926 | 772 | ||||||
4.00%, 09/01/2029 (e) | 6,567 | 5,139 | ||||||
6.00%, 06/15/2027 (e) | 824 | 793 | ||||||
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc., (Multinational), | ||||||||
Reg. S, 2.13%, 08/15/2026 | EUR | 938 | 879 | |||||
4.13%, 08/15/2026 (e) | 500 | 457 | ||||||
Reg. S, 4.75%, 07/15/2027 | GBP | 200 | 192 | |||||
5.25%, 04/30/2025 (e) | 886 | 864 | ||||||
5.25%, 08/15/2027 (e) | 1,294 | 1,080 | ||||||
Ball Corp., | ||||||||
3.13%, 09/15/2031 | 354 | 277 | ||||||
6.00%, 06/15/2029 | 864 | 840 | ||||||
Clydesdale Acquisition Holdings, Inc., | ||||||||
6.63%, 04/15/2029 (e) | 2,815 | 2,617 | ||||||
8.75%, 04/15/2030 (e) | 2,605 | 2,234 | ||||||
Crown Americas LLC, 5.25%, 04/01/2030 | 422 | 391 | ||||||
Crown European Holdings SA, (France), | ||||||||
Reg. S, 3.38%, 05/15/2025 | EUR | 100 | 103 | |||||
Reg. S, 5.00%, 05/15/2028 | EUR | 100 | 105 | |||||
Fiber Bidco Spa, (Italy), Reg. S, 11.00%, 10/25/2027 | EUR | 200 | 225 | |||||
Graham Packaging Co., Inc., 7.13%, 08/15/2028 (e) | 1,375 | 1,152 | ||||||
Graphic Packaging International LLC, | ||||||||
Reg. S, 2.63%, 02/01/2029 | EUR | 400 | 367 | |||||
4.13%, 08/15/2024 | 475 | 464 | ||||||
4.75%, 07/15/2027 (e) | 648 | 611 | ||||||
Intelligent Packaging Holdco Issuer LP, (Canada), 9.00% (cash), 01/15/2026 (e) (v) | 1,775 | 1,470 | ||||||
Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, (Canada), 6.00%, 09/15/2028 (e) | 1,539 | 1,345 | ||||||
Kleopatra Finco Sarl, (Luxembourg), Reg. S, 4.25%, 03/01/2026 | EUR | 140 | 124 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Packaging & Containers continued | ||||||||
LABL, Inc., | ||||||||
5.88%, 11/01/2028 (e) | 2,645 | 2,375 | ||||||
6.75%, 07/15/2026 (e) | 2,525 | 2,446 | ||||||
8.25%, 11/01/2029 (e) | 800 | 654 | ||||||
9.50%, 11/01/2028 (e) | 2,510 | 2,573 | ||||||
10.50%, 07/15/2027 (e) | 925 | 868 | ||||||
Mauser Packaging Solutions Holding Co., | ||||||||
7.88%, 08/15/2026 (e) | 14,294 | 13,791 | ||||||
9.25%, 04/15/2027 (e) | 430 | 376 | ||||||
OI European Group BV, (Netherlands), | ||||||||
4.75%, 02/15/2030 (e) | 300 | 261 | ||||||
6.25%, 05/15/2028 (e) | EUR | 568 | 610 | |||||
Owens-Brockway Glass Container, Inc., | ||||||||
6.63%, 05/13/2027 (e) | 527 | 514 | ||||||
7.25%, 05/15/2031 (e) | 1,459 | 1,426 | ||||||
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc., 4.38%, 10/15/2028 (e) | 875 | 760 | ||||||
Sealed Air Corp., | ||||||||
4.00%, 12/01/2027 (e) | 89 | 79 | ||||||
5.00%, 04/15/2029 (e) | 267 | 240 | ||||||
Sealed Air Corp. / Sealed Air Corp. US, 6.13%, 02/01/2028 (e) | 1,582 | 1,535 | ||||||
Trident TPI Holdings, Inc., 12.75%, 12/31/2028 (e) | 2,428 | 2,537 | ||||||
TriMas Corp., 4.13%, 04/15/2029 (e) | 525 | 450 | ||||||
Trivium Packaging Finance BV, (Netherlands), | ||||||||
5.50%, 08/15/2026 (e) | 2,218 | 2,068 | ||||||
8.50%, 08/15/2027 (e) | 4,198 | 3,855 | ||||||
|
|
|||||||
64,596 | ||||||||
|
|
|||||||
Shipbuilding 0.0% (g) | ||||||||
Huntington Ingalls Industries, Inc., 2.04%, 08/16/2028 | 187 | 157 | ||||||
|
|
|||||||
Transportation 0.4% | ||||||||
Forward Air Corp., 9.50%, 10/15/2031 (e) (w) | 3,869 | 3,866 | ||||||
MISC Capital Two Labuan Ltd., (Malaysia), Reg. S, 3.75%, 04/06/2027 | 1,100 | 1,016 | ||||||
Poste Italiane SpA, (Italy), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.68%), 2.63%, 03/24/2029 (x) (aa) | EUR | 200 | 163 | |||||
Seaspan Corp., (Marshall Island), Reg. S, 5.50%, 08/01/2029 | 2,400 | 1,926 | ||||||
XPO Escrow Sub LLC, 7.50%, 11/15/2027 (e) | 708 | 716 | ||||||
XPO, Inc., | ||||||||
6.25%, 06/01/2028 (e) | 500 | 484 | ||||||
7.13%, 06/01/2031 (e) | 150 | 148 | ||||||
Yunda Holding Investment Ltd., (British Virgin Islands), Reg. S, 2.25%, 08/19/2025 | 6,300 | 5,591 | ||||||
|
|
|||||||
13,910 | ||||||||
|
|
|||||||
Trucking & Leasing 0.3% | ||||||||
Fortress Transportation and Infrastructure Investors LLC, | ||||||||
5.50%, 05/01/2028 (e) | 4,169 | 3,780 | ||||||
6.50%, 10/01/2025 (e) | 3,257 | 3,201 | ||||||
9.75%, 08/01/2027 (e) | 1,034 | 1,069 | ||||||
Penske Truck Leasing Co. LP / PTL Finance Corp., 6.05%, 08/01/2028 (e) | 315 | 311 | ||||||
|
|
|||||||
8,361 | ||||||||
|
|
|||||||
Total Industrial | 336,203 | |||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Technology 3.9% | ||||||||
Computers 1.1% | ||||||||
Atos SE, (France), | ||||||||
Reg. S, 1.75%, 05/07/2025 | EUR | 100 | 87 | |||||
Reg. S, 2.50%, 11/07/2028 | EUR | 100 | 72 | |||||
Banff Merger Sub, Inc., Reg. S, 8.38%, 09/01/2026 | EUR | 106 | 110 | |||||
Booz Allen Hamilton, Inc., | ||||||||
3.88%, 09/01/2028 (e) | 173 | 155 | ||||||
4.00%, 07/01/2029 (e) | 2,182 | 1,925 | ||||||
CA Magnum Holdings, (Mauritius), | ||||||||
5.38%, 10/31/2026 (e) | 3,578 | 3,167 | ||||||
Reg. S, 5.38%, 10/31/2026 | 9,550 | 8,453 | ||||||
Dell International LLC / EMC Corp., | ||||||||
4.90%, 10/01/2026 | 200 | 195 | ||||||
6.02%, 06/15/2026 | 196 | 197 | ||||||
KBR, Inc., 4.75%, 09/30/2028 (e) | 397 | 349 | ||||||
Lenovo Group Ltd., (Hong Kong), | ||||||||
5.83%, 01/27/2028 (e) | 1,600 | 1,567 | ||||||
Reg. S, 6.54%, 07/27/2032 | 3,800 | 3,765 | ||||||
McAfee Corp., 7.38%, 02/15/2030 (e) | 4,841 | 4,053 | ||||||
NCR Atleos Escrow Corp., 9.50%, 04/01/2029 (e) | 1,237 | 1,202 | ||||||
NCR Corp., | ||||||||
5.00%, 10/01/2028 (e) | 788 | 705 | ||||||
5.13%, 04/15/2029 (e) | 1,551 | 1,366 | ||||||
5.25%, 10/01/2030 (e) | 1,052 | 906 | ||||||
5.75%, 09/01/2027 (e) | 500 | 504 | ||||||
6.13%, 09/01/2029 (e) | 850 | 872 | ||||||
Presidio Holdings, Inc., 4.88%, 02/01/2027 (e) | 203 | 188 | ||||||
Seagate HDD Cayman, (Cayman Islands), | ||||||||
8.25%, 12/15/2029 (e) | 1,615 | 1,658 | ||||||
8.50%, 07/15/2031 (e) | 2,047 | 2,100 | ||||||
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 5.75%, 06/01/2025 (e) | 949 | 926 | ||||||
|
|
|||||||
34,522 | ||||||||
|
|
|||||||
Semiconductors 0.4% | ||||||||
Entegris Escrow Corp., 4.75%, 04/15/2029 (e) | 8,379 | 7,532 | ||||||
Entegris, Inc., 4.38%, 04/15/2028 (e) | 476 | 424 | ||||||
Microchip Technology, Inc., 4.25%, 09/01/2025 | 712 | 689 | ||||||
Qorvo, Inc., 1.75%, 12/15/2024 (e) | 78 | 73 | ||||||
SK Hynix, Inc., (South Korea), | ||||||||
1.50%, 01/19/2026 (e) | 731 | 657 | ||||||
Reg. S, 1.50%, 01/19/2026 | 1,150 | 1,033 | ||||||
6.38%, 01/17/2028 (e) | 1,900 | 1,897 | ||||||
Synaptics, Inc., 4.00%, 06/15/2029 (e) | 882 | 728 | ||||||
|
|
|||||||
13,033 | ||||||||
|
|
|||||||
Software 2.4% | ||||||||
Alteryx, Inc., 8.75%, 03/15/2028 (e) | 1,050 | 1,045 | ||||||
AthenaHealth Group, Inc., 6.50%, 02/15/2030 (e) | 9,781 | 8,189 | ||||||
Black Knight InfoServ LLC, 3.63%, 09/01/2028 (e) | 3,990 | 3,576 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Software continued | ||||||||
Boxer Parent Co., Inc., | ||||||||
Reg. S, 6.50%, 10/02/2025 | EUR | 300 | 314 | |||||
7.13%, 10/02/2025 (e) | 4,613 | 4,590 | ||||||
9.13%, 03/01/2026 (e) | 2,309 | 2,303 | ||||||
Camelot Finance SA, (Luxembourg), 4.50%, 11/01/2026 (e) | 279 | 258 | ||||||
Capstone Borrower, Inc., 8.00%, 06/15/2030 (e) | 1,410 | 1,376 | ||||||
Cedacri Mergeco SPA, (Italy), Reg. S, (ICE LIBOR EUR 3 Month + 5.50%), 9.28%, 05/15/2028 (aa) | EUR | 100 | 105 | |||||
Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc., 8.00%, 06/15/2029 (e) | 2,035 | 2,030 | ||||||
Central Parent, Inc. / CDK Global, Inc., 7.25%, 06/15/2029 (e) | 2,657 | 2,576 | ||||||
Clarivate Science Holdings Corp., | ||||||||
3.88%, 07/01/2028 (e) | 5,417 | 4,690 | ||||||
4.88%, 07/01/2029 (e) | 4,216 | 3,593 | ||||||
Cloud Software Group, Inc., | ||||||||
6.50%, 03/31/2029 (e) | 14,974 | 13,243 | ||||||
9.00%, 09/30/2029 (e) | 6,644 | 5,771 | ||||||
Concentrix Corp., 6.65%, 08/02/2026 | 109 | 108 | ||||||
Consensus Cloud Solutions, Inc., 6.50%, 10/15/2028 (e) | 60 | 51 | ||||||
Dun & Bradstreet Corp. (The), 5.00%, 12/15/2029 (e) | 3,307 | 2,851 | ||||||
Elastic NV, (Netherlands), 4.13%, 07/15/2029 (e) | 2,106 | 1,793 | ||||||
Fair Isaac Corp., 4.00%, 06/15/2028 (e) | 1,672 | 1,501 | ||||||
MicroStrategy, Inc., 6.13%, 06/15/2028 (e) | 1,725 | 1,532 | ||||||
Open Text Corp., (Canada), 6.90%, 12/01/2027 (e) | 4,210 | 4,220 | ||||||
Oracle Corp., 2.30%, 03/25/2028 | 615 | 533 | ||||||
Playtika Holding Corp., 4.25%, 03/15/2029 (e) | 348 | 291 | ||||||
PTC, Inc., 3.63%, 02/15/2025 (e) | 536 | 515 | ||||||
SS&C Technologies, Inc., 5.50%, 09/30/2027 (e) | 3,860 | 3,642 | ||||||
Twilio, Inc., | ||||||||
3.63%, 03/15/2029 | 228 | 191 | ||||||
3.88%, 03/15/2031 | 2,281 | 1,855 | ||||||
Veritas US, Inc. / Veritas Bermuda Ltd., 7.50%, 09/01/2025 (e) | 321 | 268 | ||||||
ZoomInfo Technologies LLC / ZoomInfo Finance Corp., 3.88%, 02/01/2029 (e) | 4,046 | 3,382 | ||||||
|
|
|||||||
76,392 | ||||||||
|
|
|||||||
Total Technology | 123,947 | |||||||
|
|
|||||||
Utilities 3.7% | ||||||||
Electric 3.5% | ||||||||
ACEN Finance Ltd., (Cayman Islands), Reg. S, 4.00%, 03/08/2025 (x) | 5,000 | 3,316 | ||||||
Adani Green Energy Ltd., (India), Reg. S, 4.38%, 09/08/2024 | 1,500 | 1,399 | ||||||
AES Corp. (The), | ||||||||
3.30%, 07/15/2025 (e) | 527 | 499 | ||||||
5.45%, 06/01/2028 | 179 | 173 | ||||||
Alexander Funding Trust, 1.84%, 11/15/2023 (e) | 560 | 556 | ||||||
Alexander Funding Trust II, 7.47%, 07/31/2028 (e) | 982 | 983 | ||||||
American Electric Power Co., Inc., 5.75%, 11/01/2027 | 67 | 67 | ||||||
Avangrid, Inc., 3.20%, 04/15/2025 | 537 | 513 | ||||||
Black Hills Corp., 5.95%, 03/15/2028 | 137 | 137 | ||||||
Calpine Corp., | ||||||||
3.75%, 03/01/2031 (e) | 2,605 | 2,099 | ||||||
4.50%, 02/15/2028 (e) | 973 | 877 | ||||||
4.63%, 02/01/2029 (e) | 2,735 | 2,290 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Electric continued | ||||||||
5.00%, 02/01/2031 (e) | 3,525 | 2,851 | ||||||
5.13%, 03/15/2028 (e) | 8,223 | 7,321 | ||||||
Cikarang Listrindo Tbk. PT, (Indonesia), Reg. S, 4.95%, 09/14/2026 | 6,400 | 6,106 | ||||||
Clean Renewable Power Mauritius Pte Ltd., (Mauritius), Reg. S, 4.25%, 03/25/2027 | 3,465 | 2,997 | ||||||
Clearway Energy Operating LLC, | ||||||||
3.75%, 02/15/2031 (e) | 101 | 80 | ||||||
3.75%, 01/15/2032 (e) | 977 | 759 | ||||||
4.75%, 03/15/2028 (e) | 796 | 712 | ||||||
Cleco Corporate Holdings LLC, 3.74%, 05/01/2026 | 497 | 463 | ||||||
Constellation Energy Generation LLC, 5.60%, 03/01/2028 | 127 | 126 | ||||||
Diamond II Ltd., (Mauritius), 7.95%, 07/28/2026 (e) | 1,000 | 980 | ||||||
Duke Energy Corp., 2.65%, 09/01/2026 | 66 | 61 | ||||||
Edison International, | ||||||||
Series A, (CMT Index 5 Year + 4.70%), 5.38%, 03/15/2026 (x) (aa) | 792 | 699 | ||||||
Series B, (CMT Index 5 Year + 3.90%), 5.00%, 12/15/2026 (x) (aa) | 329 | 281 | ||||||
EDP - Energias de Portugal SA, (Portugal), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 1.84%), 1.70%, 07/20/2080 (aa) | EUR | 100 | 97 | |||||
Reg. S, (EUR Swap Rate 5 Year + 2.38%), 1.88%, 08/02/2081 (aa) | EUR | 200 | 187 | |||||
Electricite de France SA, (France), | ||||||||
Reg. S, (EUR Swap Rate 5 Year + 3.97%), 3.38%, 06/15/2030 (x) (aa) | EUR | 400 | 326 | |||||
5.70%, 05/23/2028 (e) | 260 | 257 | ||||||
Reg. S, (GBP Swap Rate 13 Year + 4.23%), 6.00%, 01/29/2026 (x) (aa) | GBP | 300 | 338 | |||||
Evergy Missouri West, Inc., 5.15%, 12/15/2027 (e) | 234 | 228 | ||||||
Fells Point Funding Trust, 3.05%, 01/31/2027 (e) | 524 | 475 | ||||||
FirstEnergy Corp., 2.05%, 03/01/2025 | 330 | 310 | ||||||
FirstEnergy Transmission LLC, 4.35%, 01/15/2025 (e) | 223 | 218 | ||||||
Jersey Central Power & Light Co., 4.70%, 04/01/2024 (e) | 1,018 | 1,009 | ||||||
JSW Hydro Energy Ltd., (India), Reg. S, 4.13%, 05/18/2031 | 4,872 | 4,049 | ||||||
LLPL Capital Pte Ltd., (Singapore), Reg. S, 6.88%, 02/04/2039 | 2,253 | 2,006 | ||||||
Minejesa Capital BV, (Netherlands), Reg. S, 4.63%, 08/10/2030 | 4,700 | 4,176 | ||||||
Mong Duong Finance Holdings BV, (Netherlands), | ||||||||
Reg. S, 5.13%, 05/07/2029 | 9,639 | 8,709 | ||||||
National Grid plc, (United Kingdom), 5.60%, 06/12/2028 | 91 | 90 | ||||||
Naturgy Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 2.44%), 2.37%, 11/23/2026 (x) (aa) | EUR | 300 | 280 | |||||
NextEra Energy Capital Holdings, Inc., 5.75%, 09/01/2025 | 154 | 154 | ||||||
NextEra Energy Operating Partners LP, 3.88%, 10/15/2026 (e) | 348 | 315 | ||||||
NRG Energy, Inc., | ||||||||
3.63%, 02/15/2031 (e) | 2,185 | 1,658 | ||||||
3.88%, 02/15/2032 (e) | 1,800 | 1,352 | ||||||
5.25%, 06/15/2029 (e) | 1,204 | 1,063 | ||||||
5.75%, 01/15/2028 | 1,325 | 1,242 | ||||||
6.63%, 01/15/2027 | 538 | 527 | ||||||
7.00%, 03/15/2033 (e) | 920 | 889 | ||||||
(CMT Index 5 Year + 5.92%), 10.25%, 03/15/2028 (e) (x) (aa) | 3,626 | 3,551 | ||||||
Pacific Gas and Electric Co., | ||||||||
1.70%, 11/15/2023 | 94 | 93 | ||||||
3.15%, 01/01/2026 | 529 | 492 | ||||||
3.75%, 02/15/2024 | 232 | 230 | ||||||
Palomino Funding Trust I, 7.23%, 05/17/2028 (e) | 698 | 701 | ||||||
Pattern Energy Operations LP / Pattern Energy Operations, Inc., 4.50%, 08/15/2028 (e) | 520 | 452 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Electric continued | ||||||||
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, (Indonesia), Reg. S, 4.13%, 05/15/2027 | 2,400 | 2,256 | ||||||
PG&E Corp., 5.25%, 07/01/2030 | 1,551 | 1,348 | ||||||
Public Service Enterprise Group, Inc., 5.85%, 11/15/2027 | 123 | 124 | ||||||
ReNew Wind Energy AP2 / ReNew Power Pvt Ltd. other 9 Subsidiaries, (India), Reg. S, 4.50%, 07/14/2028 | 10,000 | 8,410 | ||||||
SMC Global Power Holdings Corp., (Philippines), Reg. S, (CMT Index 5 Year + 9.20%), 7.00%, 10/21/2025 (x) (aa) | 10,150 | 8,043 | ||||||
Star Energy Geothermal Wayang Windu Ltd., (British Virgin Islands), Reg. S, 6.75%, 04/24/2033 | 4,703 | 4,513 | ||||||
System Energy Resources, Inc., 6.00%, 04/15/2028 | 832 | 814 | ||||||
Talen Energy Supply LLC, 8.63%, 06/01/2030 (e) | 606 | 621 | ||||||
TransAlta Corp., (Canada), 7.75%, 11/15/2029 | 772 | 782 | ||||||
Vistra Corp., | ||||||||
(CMT Index 5 Year + 5.74%), 7.00%, 12/15/2026 (e) (x) (aa) | 2,549 | 2,326 | ||||||
(CMT Index 5 Year + 6.93%), 8.00%, 10/15/2026 (e) (x) (aa) | 1,175 | 1,119 | ||||||
Vistra Operations Co. LLC, | ||||||||
3.55%, 07/15/2024 (e) | 622 | 607 | ||||||
4.38%, 05/01/2029 (e) | 6,150 | 5,287 | ||||||
4.88%, 05/13/2024 (e) | 495 | 489 | ||||||
5.00%, 07/31/2027 (e) | 90 | 83 | ||||||
5.50%, 09/01/2026 (e) | 1,035 | 987 | ||||||
5.63%, 02/15/2027 (e) | 2,353 | 2,232 | ||||||
6.95%, 10/15/2033 (e) | 961 | 942 | ||||||
7.75%, 10/15/2031 (e) | 1,444 | 1,424 | ||||||
WEC Energy Group, Inc., 5.60%, 09/12/2026 | 125 | 125 | ||||||
|
|
|||||||
114,351 | ||||||||
|
|
|||||||
Gas 0.2% | ||||||||
AmeriGas Partners LP / AmeriGas Finance Corp., | ||||||||
5.50%, 05/20/2025 | 1,280 | 1,240 | ||||||
5.88%, 08/20/2026 | 1,780 | 1,712 | ||||||
9.38%, 06/01/2028 (e) | 1,344 | 1,363 | ||||||
Brooklyn Union Gas Co. (The), 4.63%, 08/05/2027 (e) | 341 | 323 | ||||||
CenterPoint Energy Resources Corp., 5.25%, 03/01/2028 | 78 | 77 | ||||||
National Fuel Gas Co., 5.50%, 01/15/2026 | 289 | 284 | ||||||
NiSource, Inc., 5.25%, 03/30/2028 | 47 | 46 | ||||||
ONE Gas, Inc., 1.10%, 03/11/2024 | 125 | 122 | ||||||
Southwest Gas Corp., 5.45%, 03/23/2028 | 100 | 99 | ||||||
UGI International LLC, Reg. S, 2.50%, 12/01/2029 | EUR | 100 | 87 | |||||
|
|
|||||||
5,353 | ||||||||
|
|
|||||||
Water 0.0% (g) | ||||||||
Thames Water Utilities Finance plc, (United Kingdom), Reg. S, 4.00%, 04/18/2027 | EUR | 100 | 99 | |||||
|
|
|||||||
Total Utilities | 119,803 | |||||||
|
|
|||||||
Total Corporate Bonds (Cost $2,861,239) |
2,668,703 | |||||||
|
|
|||||||
Foreign Government Securities 2.0% | ||||||||
Mongolia Government International Bond, (Mongolia), | ||||||||
Reg. S, 3.50%, 07/07/2027 | 2,000 | 1,676 | ||||||
Reg. S, 4.45%, 07/07/2031 | 5,100 | 3,917 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds continued | ||||||||
Foreign Government Securities continued | ||||||||
Reg. S, 5.13%, 04/07/2026 | 4,400 | 4,104 | ||||||
8.65%, 01/19/2028 (e) | 4,200 | 4,171 | ||||||
Reg. S, 8.65%, 01/19/2028 | 1,400 | 1,390 | ||||||
Oman Government International Bond, (Oman), Reg. S, 7.00%, 01/25/2051 | 1,300 | 1,223 | ||||||
Pakistan Government International Bond, (Pakistan), | ||||||||
Reg. S, 6.00%, 04/08/2026 | 13,400 | 6,898 | ||||||
Reg. S, 6.88%, 12/05/2027 | 23,300 | 11,865 | ||||||
Reg. S, 7.38%, 04/08/2031 | 20,650 | 9,551 | ||||||
Reg. S, 8.88%, 04/08/2051 | 400 | 184 | ||||||
Sri Lanka Government International Bond, (Sri Lanka), | ||||||||
Reg. S, 5.75%, 04/18/2023 (d) | 2,600 | 1,237 | ||||||
6.20%, 05/11/2027 (d) (e) | 15,600 | 7,188 | ||||||
Reg. S, 6.20%, 05/11/2027 (d) | 3,800 | 1,751 | ||||||
Reg. S, 6.75%, 04/18/2028 (d) | 4,000 | 1,853 | ||||||
Reg. S, 6.85%, 03/14/2024 (d) | 12,100 | 5,730 | ||||||
Reg. S, 7.55%, 03/28/2030 (d) | 2,000 | 922 | ||||||
Vietnam Government International Bond, (Vietnam), Series 30YR, 5.50%, 03/12/2028 | 222 | 212 | ||||||
|
|
|||||||
Total Foreign Government Securities (Cost $75,060) |
63,872 | |||||||
|
|
|||||||
U.S. Treasury Obligations 1.7% | ||||||||
U.S. Treasury Inflation Indexed Notes, | ||||||||
0.13%, 04/15/2025 | 828 | 790 | ||||||
0.13%, 01/15/2032 | 5,073 | 4,250 | ||||||
0.25%, 01/15/2025 | 1,036 | 997 | ||||||
0.50%, 04/15/2024 | 927 | 911 | ||||||
U.S. Treasury Notes, | ||||||||
2.50%, 05/31/2024 (ee) | 26,890 | 26,368 | ||||||
2.75%, 04/30/2027 | 740 | 692 | ||||||
3.38%, 05/15/2033 | 5,900 | 5,353 | ||||||
3.63%, 05/31/2028 | 7,000 | 6,711 | ||||||
4.25%, 05/31/2025 | 527 | 519 | ||||||
5.00%, 08/31/2025 | 6,416 | 6,404 | ||||||
|
|
|||||||
Total U.S. Treasury Obligations (Cost $54,691) |
52,995 | |||||||
|
|
|||||||
SHARES |
||||||||
Common Stock 0.0% (g) | ||||||||
Communications 0.0% (g) | ||||||||
Telecommunications 0.0% (g) | ||||||||
Intelsat SA, (Luxembourg) (a) (bb) (cc) (Cost $4,731) |
87 | 1,852 | ||||||
|
|
|||||||
Preferred Stock 0.2% | ||||||||
Consumer Cyclical 0.2% | ||||||||
Retail 0.2% | ||||||||
Ferrellgas Escrow LLC, expiring, 03/30/2031 (a) (f) (bb) (cc) (Cost $6,490) |
6 | 6,467 | ||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Loan Assignments 4.6% (o) | ||||||||
Basic Materials 0.2% | ||||||||
Chemicals 0.2% | ||||||||
ARC Falcon I Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.17%, 09/30/2028 (aa) | 684 | 675 | ||||||
Ascend Performance Materials Operations LLC, 2021 Refinancing Term Loan, (CME Term SOFR 3 Month + 4.75%), 10.32%, 08/27/2026 (aa) | 26 | 26 | ||||||
Discovery Purchaser Corp., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 4.38%), 9.77%, 10/04/2029 (aa) | 2,388 | 2,297 | ||||||
Herens Holdco Sarl, Facility B (USD), (Luxembourg), (CME Term SOFR 6 Month + 3.93%), 9.42%, 07/03/2028 (aa) | 618 | 546 | ||||||
Nutrition & Biosciences, Inc., 3-Year Delayed Draw Term Loan, (CME Term SOFR 3 Month + 1.50%), 6.97%, 01/17/2023 (f) (aa) | 218 | 216 | ||||||
Olympus Water US Holding Corp., 2023 Incremental Term Loan, (CME Term SOFR 3 Month + 5.00%), 10.39%, 11/09/2028 (aa) | 110 | 110 | ||||||
Sparta U.S. Holdco LLC, Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.25%), 8.69%, 08/02/2028 (aa) | 611 | 608 | ||||||
Venator Finance Sarl, Final Order Term Loan, (Luxembourg), (CME Term SOFR 1 Month + 10.00%), 15.33%, 09/14/2023 (aa) | 1,547 | 1,605 | ||||||
Venator Finance Sarl, Initial Term Loan, (Luxembourg), (CME Term SOFR 1 Month + 10.00%), 5.31%, 08/08/2024 (d) (u) (aa) | 500 | 100 | ||||||
|
|
|||||||
6,183 | ||||||||
|
|
|||||||
Mining 0.0% (g) | ||||||||
Arsenal AIC Parent LLC, Term B Loan, (CME Term SOFR 3 Month + 4.50%), 9.88%, 08/18/2030 (u) (aa) | 896 | 893 | ||||||
|
|
|||||||
Total Basic Materials | 7,076 | |||||||
|
|
|||||||
Communications 0.8% | ||||||||
Advertising 0.1% | ||||||||
Clear Channel Outdoor Holdings, Inc., Term B Loan, (CME Term SOFR 3 Month + 3.50%), 9.13%, 08/21/2026 (u) (aa) | 3,581 | 3,472 | ||||||
|
|
|||||||
Internet 0.2% | ||||||||
Acuris Finance US, Inc., Initial Dollar Term Loan, (CME Term SOFR 3 Month + 4.00%), 9.54%, 02/16/2028 (aa) | 178 | 175 | ||||||
Comcast Hulu Holdings LLC, Term Loan A, (CME Term SOFR 1 Month + 0.88%), 6.29%, 03/15/2024 (aa) | 750 | 746 | ||||||
Imperva, Inc., Term Loan (First Lien), (CME Term SOFR 3 Month + 4.00%), 9.43%, 01/12/2026 (u) (aa) | 239 | 239 | ||||||
MH Sub I LLC, 2020 June New Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.18%, 09/13/2024 (aa) | 149 | 149 | ||||||
MH Sub I LLC, 2021 Replacement Term Loan (Second Lien), (CME Term SOFR 1 Month + 6.25%), 11.57%, 02/23/2029 (aa) | 758 | 670 | ||||||
MH Sub I LLC, 2023 May Incremental Term Loan (First Lien), (CME Term SOFR 1 Month + 4.25%), 9.57%, 05/03/2028 (aa) | 2,861 | 2,764 | ||||||
MH Sub I LLC, Amendment No. 2 Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.18%, 09/13/2024 (aa) | 70 | 70 | ||||||
Proofpoint, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.25%), 8.68%, 08/31/2028 (aa) | 2,185 | 2,164 | ||||||
|
|
|||||||
6,977 | ||||||||
|
|
|||||||
Media 0.2% | ||||||||
Charter Communications Operating LLC, Term B-1 Loan, (CME Term SOFR 3 Month + 1.75%), 7.12%, 04/30/2025 (aa) | 853 | 854 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Loan Assignments continued | ||||||||
Media continued | ||||||||
Diamond Sports Group LLC, Term Loan (First Lien), (CME Term SOFR 3 Month + 0.00%), 0.00%, 05/25/2026 (d) (aa) | 2,745 | 1,382 | ||||||
Diamond Sports Group LLC, Term Loan (Second Lien), (CME Term SOFR 1 Month + 0.00%), 0.00%, 08/24/2026 (d) (aa) | 4,720 | 92 | ||||||
DIRECTV Financing LLC, Closing Date Term Loan, (CME Term SOFR 1 Month + 5.00%), 10.43%, 08/02/2027 (aa) | 3,373 | 3,292 | ||||||
Radiate Holdco LLC, Amendment No. 6 Term B Loan, (CME Term SOFR 1 Month + 3.25%), 8.68%, 09/25/2026 (aa) | 1,246 | 1,016 | ||||||
|
|
|||||||
6,636 | ||||||||
|
|
|||||||
Telecommunications 0.3% | ||||||||
Delta Topco, Inc., Initial Term Loan (First Lien), (CME Term SOFR 6 Month + 3.75%), 9.07%, 12/01/2027 (aa) | 1,075 | 1,063 | ||||||
Intelsat Jackson Holdings S.A., Term B Loan, (Luxembourg), (CME Term SOFR 3 Month + 4.25%), 9.77%, 02/01/2029 (aa) | 2,444 | 2,436 | ||||||
ViaSat, Inc., Initial Term Loan, (CME Term SOFR 3 Month + 4.50%), 9.74%, 05/30/2030 (u) (aa) | 1,017 | 941 | ||||||
Xplore Inc., Initial Term Loan (Second Lien), (Canada), (CME Term SOFR 3 Month + 7.00%), 12.50%, 10/01/2029 (aa) | 1,300 | 624 | ||||||
Xplore Inc., Refinancing Term Loan (First Lien), (Canada), (CME Term SOFR 3 Month + 4.00%), 9.65%, 10/02/2028 (aa) | 3,249 | 2,538 | ||||||
Zayo Group Holdings, Inc., Initial Dollar Term Loan, (CME Term SOFR 1 Month + 3.00%), 8.43%, 03/09/2027 (aa) | 2,110 | 1,718 | ||||||
|
|
|||||||
9,320 | ||||||||
|
|
|||||||
Total Communications | 26,405 | |||||||
|
|
|||||||
Consumer Cyclical 0.5% | ||||||||
Airlines 0.1% | ||||||||
AAdvantage Loyalty IP Ltd., Initial Term Loan, (Cayman Islands), (CME Term SOFR 3 Month + 4.75%), 10.34%, 04/20/2028 (aa) | 3,201 | 3,294 | ||||||
Mileage Plus Holdings LLC, Initial Term Loan, (CME Term SOFR 3 Month + 5.25%), 10.80%, 06/21/2027 (aa) | 56 | 58 | ||||||
SkyMiles IP Ltd., Initial Term Loan, (Cayman Islands), (CME Term SOFR 3 Month + 3.75%), 9.08%, 10/20/2027 (aa) | 272 | 281 | ||||||
United AirLines, Inc., Class B Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.18%, 04/21/2028 (aa) | 457 | 457 | ||||||
|
|
|||||||
4,090 | ||||||||
|
|
|||||||
Auto Parts & Equipment 0.0% (g) | ||||||||
Tenneco Inc., Term B Loan (First Lien), (CME Term SOFR 3 Month + 5.00%), 10.48%, 11/17/2028 (aa) | 803 | 680 | ||||||
|
|
|||||||
Commercial Services 0.0% (g) | ||||||||
OMNIA Partners LLC, Initial Term Loan, (CME Term SOFR 3 Month + 4.25%), 9.60%, 07/25/2030 (u) (aa) | 407 | 407 | ||||||
|
|
|||||||
Cosmetics/Presonal Care 0.1% (g) | ||||||||
KDC/ONE Development Corp., Inc., Dollar Tranche Term Loan, (Canada), (CME Term SOFR 1 Month + 5.00%), 10.32%, 08/15/2028 (aa) | 838 | 807 | ||||||
|
|
|||||||
Entertainment 0.0% (g) | ||||||||
Flutter Entertainment plc, USD Term Loan, (Ireland), (CME Term SOFR 3 Month + 2.25%), 7.90%, 07/21/2026 (aa) | 232 | 231 | ||||||
Ontario Gaming GTA LP, Term B Loan (First Lien), (Canada), (CME Term SOFR 3 Month + 4.25%), 9.64%, 08/01/2030 (aa) | 537 | 537 | ||||||
|
|
|||||||
768 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Loan Assignments continued | ||||||||
Lodging 0.1% | ||||||||
Fertitta Entertainment LLC, Initial B Term Loan, (CME Term SOFR 1 Month + 4.00%), 9.32%, 01/27/2029 (aa) | 1,956 | 1,934 | ||||||
Hilton Worldwide Finance LLC, Refinanced Series B-2 Term Loan, (CME Term SOFR 1 Month + 1.75%), 7.17%, 06/22/2026 (aa) | 383 | 383 | ||||||
Resorts World Las Vegas LLC, Term A Facility Loan, (CME Term SOFR 1 Month + 1.50%), 6.82%, 04/16/2024 (aa) | 500 | 500 | ||||||
Wyndham Hotels & Resorts, Inc., 2022 Term A Loan, (CME Term SOFR 1 Month + 1.75%), 7.17%, 04/08/2027 (u) (aa) | 296 | 294 | ||||||
|
|
|||||||
3,111 | ||||||||
|
|
|||||||
Retail 0.2% | ||||||||
Great Outdoors Group LLC, Term B-2 Loan, (CME Term SOFR 3 Month + 3.75%), 9.40%, 03/06/2028 (aa) | 2,462 | 2,454 | ||||||
SRS Distribution Inc., 2022 Refinancing Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.92%, 06/02/2028 (aa) | 1,325 | 1,311 | ||||||
White Cap Supply Holdings LLC, Initial Closing Date Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.07%, 10/19/2027 (aa) | 1,608 | 1,604 | ||||||
|
|
|||||||
5,369 | ||||||||
|
|
|||||||
Total Consumer Cyclical | 15,232 | |||||||
|
|
|||||||
Consumer, Non-cyclical 0.5% | ||||||||
Beverages 0.0% (g) | ||||||||
Naked Juice LLC, Initial Loan (Second Lien), (CME Term SOFR 3 Month + 6.00%), 11.49%, 01/24/2030 (aa) | 111 | 90 | ||||||
Naked Juice LLC, Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 3.25%), 8.74%, 01/24/2029 (aa) | 804 | 761 | ||||||
|
|
|||||||
851 | ||||||||
|
|
|||||||
Commercial Services 0.2% | ||||||||
CoreLogic, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.93%, 06/02/2028 (aa) | 750 | 692 | ||||||
GTCR W Merger Sub LLC, (USD) Term Loan B, (CME Term SOFR 1 Month + 3.25%), 8.56%, 09/20/2030 (u) (aa) | 1,907 | 1,906 | ||||||
PECF USS Intermediate Holding III Corp., Initial Term Loan, (CME Term SOFR 3 Month + 4.25%), 9.88%, 12/15/2028 (aa) | 427 | 341 | ||||||
Sabre GLBL Inc., 2021 Other Term B-1 Loan, (CME Term SOFR 1 Month + 3.50%), 8.93%, 12/17/2027 (aa) | 293 | 256 | ||||||
Sabre GLBL Inc., 2021 Other Term B-2 Loan, (CME Term SOFR 1 Month + 3.50%), 8.93%, 12/17/2027 (aa) | 461 | 402 | ||||||
Verscend Holding Corp., Term B-1 Loan, (CME Term SOFR 1 Month + 4.00%), 9.43%, 08/27/2025 (aa) | 4,169 | 4,164 | ||||||
|
|
|||||||
7,761 | ||||||||
|
|
|||||||
Food 0.0% (g) | ||||||||
Chobani LLC, 2020 New Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.93%, 10/25/2027 (aa) |
166 | 166 | ||||||
US Foods, Inc., Incremental B-2019 Term Loan, (CME Term SOFR 1 Month + 2.00%), 7.43%, 09/13/2026 (aa) | 224 | 224 | ||||||
|
|
|||||||
390 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Loan Assignments continued | ||||||||
HealthcareProducts 0.1% (g) | ||||||||
Bausch + Lomb Corp., Initial Term Loan, (Canada), (CME Term SOFR 3 Month + 3.25%), 8.76%, 05/10/2027 (aa) | 1,192 | 1,157 | ||||||
|
|
|||||||
HealthcareServices 0.2% | ||||||||
LifePoint Health, Inc., Term B Loan (First Lien), (CME Term SOFR 3 Month + 3.75%), 9.38%, 11/16/2028 (aa) | 1,001 | 998 | ||||||
Parexel International Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.25%), 8.68%, 11/15/2028 (aa) | 1,154 | 1,145 | ||||||
Quorum Health Corp., Term Loan (Exit), (CME Term SOFR 3 Month + 8.25%), 13.63%, 04/29/2025 (aa) | 572 | 383 | ||||||
Star Parent, Inc., Term Loan, (CME Term SOFR 1 Month + 4.00%), 9.24%, 09/27/2030 (u) (aa) | 2,568 | 2,508 | ||||||
Surgery Center Holdings, Inc., 2021 New Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.19%, 08/31/2026 (aa) | 449 | 450 | ||||||
|
|
|||||||
5,484 | ||||||||
|
|
|||||||
Pharmaceuticals 0.0% (g) | ||||||||
Gainwell Acquisition Corp., Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.00%), 9.49%, 10/01/2027 (aa) | 1,072 | 1,044 | ||||||
|
|
|||||||
Total Consumer, Non-cyclical | 16,687 | |||||||
|
|
|||||||
Diversified 0.0% (g) | ||||||||
Holding CompaniesDiversified 0.0% (g) | ||||||||
Clue Opco LLC, Cov-Lite Senior Secured Term Loan B, (CME Term SOFR 3 Month + 3.75%), 8.99%, 09/20/2030 (u) (aa) | 887 | 864 | ||||||
|
|
|||||||
Energy 0.1% | ||||||||
Pipelines 0.1% | ||||||||
Buckeye Partners, L.P., 2021 Tranche B-1 Term Loan, (CME Term SOFR 1 Month + 2.25%), 7.67%, 11/01/2026 (u) (aa) | 249 | 248 | ||||||
Freeport LNG investments, LLLP, Initial Term B Loan, (CME Term SOFR 3 Month + 3.50%), 9.09%, 12/21/2028 (aa) | 1,873 | 1,854 | ||||||
|
|
|||||||
Total Energy | 2,102 | |||||||
|
|
|||||||
Financial 0.3% | ||||||||
Banks 0.0% (g) | ||||||||
Ascensus Group Holdings, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.93%, 08/02/2028 (aa) | 512 | 506 | ||||||
Ascensus Group Holdings, Inc., Initial Term Loan (Second Lien), (CME Term SOFR 3 Month + 6.50%), 12.03%, 08/02/2029 (aa) | 325 | 307 | ||||||
|
|
|||||||
813 | ||||||||
|
|
|||||||
Diversified Financial Services 0.1% | ||||||||
Advisor Group Holdings, Inc., Term B-1 Loan, (ICE LIBOR USD 3 Month + 4.50%), 9.90%, 07/31/2026 (aa) | 494 | 493 | ||||||
Deerfield Dakota Holding LLC, 2021 Replacement Term Loan (Second Lien), (CME Term SOFR 3 Month + 6.75%), 12.40%, 04/07/2028 (aa) | 763 | 717 | ||||||
Deerfield Dakota Holding LLC, Initial Dollar Term Loan (First Lien), (CME Term SOFR 3 Month + 3.75%), 9.14%, 04/09/2027 (aa) | 1,048 | 1,021 | ||||||
Setanta Aircraft Leasing DAC, Loan, (Ireland), (ICE LIBOR USD 3 Month + 2.00%), 7.64%, 11/05/2028 (u) (aa) | 237 | 237 | ||||||
|
|
|||||||
2,468 | ||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Loan Assignments continued | ||||||||
Insurance 0.1% | ||||||||
Acrisure LLC, 2021-1 Additional Term Loan (First Lien), (ICE LIBOR USD 1 Month + 3.75%), 9.18%, 02/15/2027 (aa) | 975 | 959 | ||||||
Alliant Holdings Intermediate LLC, TLB-5 New Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.83%, 11/05/2027 (aa) | 319 | 318 | ||||||
AssuredPartners, Inc., 2022 Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.82%, 02/12/2027 (aa) | 1,244 | 1,240 | ||||||
Asurion LLC, New B-4 Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.25%), 10.68%, 01/20/2029 (aa) | 1,475 | 1,305 | ||||||
Hub International Limited, 2023 Refinancing Term Loan, (CME Term SOFR 3 Month + 4.25%), 9.58%, 06/20/2030 (aa) | 154 | 154 | ||||||
Jones DesLauriers Insurance Management Inc., 2023 Refinancing Term Loan (First Lien), (Canada), (CME Term SOFR 3 Month + 4.25%), 9.62%, 03/15/2030 (aa) | 581 | 582 | ||||||
|
|
|||||||
4,558 | ||||||||
|
|
|||||||
REITS 0.1% | ||||||||
Invitation Homes Operating Partnership LP, Term Loan A, (CME Term SOFR 1 Month + 1.00%), 6.42%, 01/31/2025 (aa) | 1,552 | 1,540 | ||||||
|
|
|||||||
Total Financial | 9,379 | |||||||
|
|
|||||||
Industrial 0.6% | ||||||||
Aerospace/Defense 0.1% | ||||||||
Bleriot US Bidco Inc., 2023 Term Loan, (CME Term SOFR 3 Month + 4.00%), 9.65%, 10/30/2028 (aa) | 271 | 271 | ||||||
Dynasty Acquisition Co., Inc., 2023 Specified Refinancing Term B-1 Loan, (CME Term SOFR 1 Month + 4.00%), 9.32%, 08/24/2028 (aa) | 898 | 895 | ||||||
Dynasty Acquisition Co., Inc., 2023 Specified Refinancing Term B-2 Loan, (CME Term SOFR 1 Month + 4.00%), 9.32%, 08/24/2028 (aa) | 385 | 384 | ||||||
|
|
|||||||
1,550 | ||||||||
|
|
|||||||
Building Materials 0.0% (g) | ||||||||
Chariot Buyer LLC, Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.25%), 8.67%, 11/03/2028 (aa) | 747 | 735 | ||||||
|
|
|||||||
Electronics 0.0% (g) | ||||||||
Indicor LLC, Initial Dollar Term Loan (First Lien), (CME Term SOFR 3 Month + 4.50%), 9.89%, 11/22/2029 (aa) | 1,093 | 1,095 | ||||||
|
|
|||||||
Engineering & Construction 0.2% | ||||||||
Apple Bidco LLC, Amendment No. 1 Term Loan (First Lien), (CME Term SOFR 1 Month + 4.00%), 9.32%, 09/22/2028 (aa) | 759 | 758 | ||||||
Brand Industrial Services, Inc., Tranche B Term Loan, (CME Term SOFR 3 Month + 5.50%), 10.87%, 08/01/2030 (aa) | 5,047 | 4,910 | ||||||
Brown Group Holding LLC, Incremental Term B-2 Facility, (CME Term SOFR 3 Month + 3.75%), 9.12%, 07/02/2029 (aa) | 299 | 298 | ||||||
|
|
|||||||
5,966 | ||||||||
|
|
|||||||
Environmental Control 0.0% (g) | ||||||||
Madison IAQ LLC, Initial Term Loan, (CME Term SOFR 1 Month + 3.25%), 8.69%, 06/21/2028 (aa) | 1,116 | 1,096 | ||||||
|
|
|||||||
MachineryConstruction & Mining 0.0% (g) | ||||||||
Vertiv Group Corp., Term B Loan, (CME Term SOFR 1 Month + 2.75%), 8.19%, 03/02/2027 (aa) | 492 | 491 | ||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Loan Assignments continued | ||||||||
MachineryDiversified 0.2% | ||||||||
Husky Injection Molding Systems Ltd., Initial Term Loan, (Canada), (ICE LIBOR USD 3 Month + 3.00%), 8.73%, 03/28/2025 (aa) | 5,556 | 5,504 | ||||||
SPX Flow, Inc., Term Loan, (CME Term SOFR 1 Month + 4.50%), 9.92%, 04/05/2029 (aa) | 1,527 | 1,523 | ||||||
|
|
|||||||
7,027 | ||||||||
|
|
|||||||
Packaging & Containers 0.1% | ||||||||
Charter Next Generation, Inc., Initial Term Loan (2021) (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.18%, 12/01/2027 (aa) | 1,154 | 1,143 | ||||||
Mauser Packaging Solutions Holding Co., Initial Term Loan, (CME Term SOFR 1 Month + 4.00%), 9.33%, 08/14/2026 (aa) | 300 | 299 | ||||||
Trident TPI Holdings, Inc., Tranche B-5 Initial Term Loan, (CME Term SOFR 3 Month + 4.50%), 9.89%, 09/15/2028 (aa) | 1,143 | 1,139 | ||||||
|
|
|||||||
2,581 | ||||||||
|
|
|||||||
Total Industrial | 20,541 | |||||||
|
|
|||||||
Technology 1.6% | ||||||||
Computers 0.4% | ||||||||
Magenta Buyer LLC, Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 5.00%), 10.63%, 07/27/2028 (aa) | 4,086 | 3,028 | ||||||
Magenta Buyer LLC, Initial Term Loan (Second Lien), (CME Term SOFR 3 Month + 8.25%), 13.88%, 07/27/2029 (aa) | 491 | 226 | ||||||
McAfee Corp., Tranche B-1 Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.18%, 03/01/2029 (aa) | 3,155 | 3,078 | ||||||
NCR Atleos LLC, Term B Loan, (CME Term SOFR 1 Month + 4.75%), 5.32%, 03/27/2029 (u) (aa) | 1,600 | 1,541 | ||||||
Peraton Corp., Term B Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.17%, 02/01/2028 (aa) | 2,016 | 2,010 | ||||||
Peraton Corp., Term B-1 Loan (Second Lien), (CME Term SOFR 3 Month + 7.75%), 13.23%, 02/01/2029 (aa) | 1,199 | 1,171 | ||||||
Tempo Acquisition LLC, Additional Fifth Incremental Term Loan, (CME Term SOFR 3 Month + 2.75%), 8.16%, 08/31/2028 (aa) | 483 | 483 | ||||||
|
|
|||||||
11,537 | ||||||||
|
|
|||||||
Software 1.2% | ||||||||
Ascend Learning LLC, Initial Term Loan (2021) (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.92%, 12/11/2028 (aa) | 1,357 | 1,292 | ||||||
Ascend Learning LLC, Initial Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.75%), 11.17%, 12/10/2029 (aa) | 458 | 389 | ||||||
athenahealth Group Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.25%), 8.57%, 02/15/2029 (aa) | 6,459 | 6,328 | ||||||
Banff Guarantor Inc., Initial Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.50%), 10.93%, 02/27/2026 (aa) | 1,992 | 1,980 | ||||||
Boxer Parent Co. Inc., 2021 Replacement Dollar Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.18%, 10/02/2025 (aa) | 1,204 | 1,202 | ||||||
Camelot U.S. Acquisition LLC, Amendment No. 2 Incremental Term Loan, (CME Term SOFR 1 Month + 3.00%), 8.43%, 10/30/2026 (aa) | 784 | 782 | ||||||
Central Parent LLC, Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 4.25%), 9.64%, 07/06/2029 (aa) | 1,293 | 1,293 | ||||||
Cloud Software Group, Inc., Dollar Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.50%), 9.99%, 03/30/2029 (aa) | 3,313 | 3,181 | ||||||
Epicor Software Corp., Term C Loan, (CME Term SOFR 1 Month + 3.25%), 8.68%, 07/30/2027 (aa) | 493 | 492 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Loan Assignments continued | ||||||||
Software continued | ||||||||
Helios Software Holdings, Inc., Initial Dollar Term Loan (2021), (CME Term SOFR 3 Month + 3.75%), 9.29%, 03/11/2028 (aa) | 622 | 617 | ||||||
Planview Parent, Inc., Closing Date Loan (Second Lien), (CME Term SOFR 3 Month + 7.25%), 12.74%, 12/18/2028 (aa) | 180 | 163 | ||||||
Polaris Newco LLC, Dollar Term Loan (First Lien), (CME Term SOFR 1 Month + 4.00%), 9.43%, 06/02/2028 (aa) | 1,558 | 1,490 | ||||||
Project Alpha Intermediate Holding, Inc., 2021 Refinancing Term Loan, (CME Term SOFR 1 Month + 4.00%), 9.43%, 04/26/2024 (aa) | 394 | 393 | ||||||
RealPage, Inc., Initial Loan (Second Lien), (CME Term SOFR 1 Month + 6.50%), 11.93%, 04/23/2029 (aa) | 918 | 919 | ||||||
RealPage, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.00%), 8.43%, 04/24/2028 (aa) | 2,921 | 2,885 | ||||||
Skillsoft Finance II, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 5.25%), 10.70%, 07/14/2028 (aa) | 2,292 | 2,153 | ||||||
Sophia, LP., Term Loan B (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.92%, 10/07/2027 (aa) | 7,030 | 7,008 | ||||||
Sovos Compliance LLC, Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 4.50%), 9.93%, 08/11/2028 (aa) | 1,012 | 995 | ||||||
UKG Inc., 2021 Incremental Term Loan (Second Lien), (CME Term SOFR 3 Month + 5.25%), 10.62%, 05/03/2027 (aa) | 2,087 | 2,081 | ||||||
UKG Inc., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 3.75%), 9.22%, 05/04/2026 (aa) | 1,747 | 1,743 | ||||||
|
|
|||||||
37,386 | ||||||||
|
|
|||||||
Total Technology | 48,923 | |||||||
|
|
|||||||
Utilities 0.0% (g) | ||||||||
Electric 0.0% (g) | ||||||||
Calpine Corp., Term Loan, (CME Term SOFR 1 Month + 2.00%), 7.32%, 08/12/2026 (u) (aa) | 199 | 199 | ||||||
Heritage Power LLC, Term Loan, (ICE LIBOR USD 3 Month + 0.00%), 0.00%, 07/30/2026 (d) (aa) | 1,416 | 288 | ||||||
|
|
|||||||
Total Utilities | 487 | |||||||
|
|
|||||||
Total Loan Assignments (Cost $151,144) |
147,696 | |||||||
|
|
|||||||
NUMBER OF RIGHTS |
||||||||
Rights 0.0% (g) | ||||||||
Communications 0.0% (g) | ||||||||
Telecommunications 0.0% (g) | ||||||||
Intelsat Jackson Holdings SA, expiring, | ||||||||
12/31/2049 (a) (bb) (cc) | 18 | 136 | ||||||
|
|
|||||||
(Cost $0) | ||||||||
PRINCIPAL AMOUNT ($) |
||||||||
Short-Term Investments 3.2% | ||||||||
Commercial Papers 0.1% | ||||||||
Brookfield Infrastructure Holdings Canada, Inc., (Canada), 6.40%, 10/05/2023 (n) | 1,620 | 1,619 | ||||||
Catholic Health, 6.26%, 10/04/2023 (n) | 788 | 787 | ||||||
|
|
|||||||
Total Commercial Papers | 2,406 | |||||||
|
|
|||||||
Time Deposits 1.2% | ||||||||
Australia & New Zealand Banking Group Ltd., 4.68%, 10/02/2023 | 20,189 | 20,189 | ||||||
Citibank NA, 4.68%, 10/02/2023 | 17,750 | 17,750 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
SECURITY DESCRIPTION |
PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Short-Term Investments continued | ||||||||
Time Deposits continued | ||||||||
Royal Bank of Canada, 3.80%, 10/03/2023 | CAD | 1 | | (h) | ||||
Skandinaviska Enskilda Banken AB, | ||||||||
0.55%, 10/02/2023 | CHF | 1 | 1 | |||||
2.81%, 10/02/2023 | EUR | 492 | 521 | |||||
4.17%, 10/02/2023 | GBP | 135 | 165 | |||||
|
|
|||||||
Total Time Deposits | 38,626 | |||||||
|
|
|||||||
U.S. Government Agency Securities 0.9% | ||||||||
FHLB DNs, | ||||||||
Zero Coupon, 11/10/2023 | 10,300 | 10,243 | ||||||
Zero Coupon, 11/17/2023 | 6,300 | 6,258 | ||||||
Zero Coupon, 12/01/2023 | 12,900 | 12,790 | ||||||
|
|
|||||||
Total U.S. Government Agency Securities | 29,291 | |||||||
|
|
|||||||
U.S. Treasury Obligations 1.0% | ||||||||
U.S. Treasury Bills, | ||||||||
Zero Coupon, 10/03/2023 | 2,700 | 2,700 | ||||||
Zero Coupon, 11/07/2023 | 900 | 895 | ||||||
Zero Coupon, 11/14/2023 | 6,200 | 6,161 | ||||||
Zero Coupon, 11/21/2023 | 7,800 | 7,743 | ||||||
Zero Coupon, 11/24/2023 | 1,100 | 1,091 | ||||||
Zero Coupon, 12/07/2023 | 500 | 495 | ||||||
Zero Coupon, 12/14/2023 | 3,600 | 3,561 | ||||||
Zero Coupon, 01/09/2024 | 8,248 | 8,128 | ||||||
|
|
|||||||
Total U.S. Treasury Obligations | 30,774 | |||||||
|
|
|||||||
Total Short-Term Investments (Cost $101,082) |
101,097 | |||||||
|
|
|||||||
Total Investments 98.8% (Cost - $3,391,007)* |
3,175,901 | |||||||
Other Assets in Excess of Liabilities 1.2% |
38,194 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 3,214,095 | ||||||
|
|
Percentages indicated are based on net assets.
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Futures contracts outstanding as of September 30, 2023:
Exchange Traded
DESCRIPTION |
NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||
Long Contracts | ||||||||||||||
Euro Schatz | 2 | 12/2023 | EUR | 223 | (1 | ) | ||||||||
U.S. Treasury 2 Year Note | 460 | 12/2023 | USD | 93,537 | (290 | ) | ||||||||
U.S. Treasury 5 Year Note | 824 | 12/2023 | USD | 87,569 | (753 | ) | ||||||||
|
|
|||||||||||||
(1,044 | ) | |||||||||||||
|
|
|||||||||||||
Short Contracts | ||||||||||||||
Euro BOBL | (1) | 12/2023 | EUR | (124 | ) | 2 | ||||||||
U.S. Treasury 10 Year Note | (3) | 12/2023 | USD | (330 | ) | 6 | ||||||||
U.S. Treasury 5 Year Note | (85) | 12/2023 | USD | (9,028 | ) | 72 | ||||||||
U.S. Treasury Long Bond | (3) | 12/2023 | USD | (359 | ) | 18 | ||||||||
U.S. Treasury Ultra Bond | (21) | 12/2023 | USD | (2,685 | ) | 193 | ||||||||
|
|
|||||||||||||
291 | ||||||||||||||
|
|
|||||||||||||
Total unrealized appreciation (depreciation) | (753 | ) | ||||||||||||
|
|
Forward foreign currency exchange contracts outstanding as of September 30, 2023:
CURRENCY PURCHASED |
CURRENCY SOLD |
COUNTERPARTY |
SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||
USD | 2,324 | EUR | 2,151 | Goldman Sachs International | 10/03/2023 | 49 | ||||||||||||
USD | 175 | GBP | 139 | Goldman Sachs International | 10/03/2023 | 6 | ||||||||||||
USD | 2,279 | EUR | 2,151 | Morgan Stanley & Co. | 11/02/2023 | 2 | ||||||||||||
USD | 105 | EUR | 98 | Morgan Stanley & Co. | 12/20/2023 | | (h) | |||||||||||
USD | 92 | EUR | 86 | Morgan Stanley & Co. | 12/20/2023 | 1 | ||||||||||||
USD | 112 | EUR | 105 | Morgan Stanley & Co. | 12/20/2023 | 1 | ||||||||||||
USD | 31,980 | EUR | 29,851 | UBS AG LONDON | 12/20/2023 | 300 | ||||||||||||
USD | 5,792 | GBP | 4,677 | Barclays Bank plc | 12/20/2023 | 82 | ||||||||||||
|
|
|||||||||||||||||
Total unrealized appreciation | 441 | |||||||||||||||||
|
|
|||||||||||||||||
EUR | 2,151 | USD | 2,276 | Morgan Stanley & Co. | 10/03/2023 | (2 | ) | |||||||||||
|
|
|||||||||||||||||
Net unrealized appreciation (depreciation) | 439 | |||||||||||||||||
|
|
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
Centrally Cleared Interest Rate Swap contracts outstanding as of September 30, 2023:
FLOATING RATE INDEX (a) |
FIXED RATE | PAY/ RECEIVE FLOATING RATE |
MATURITY DATE |
NOTIONAL AMOUNT |
UPFRONT PAYMENTS (RECEIPTS) ($) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
|||||||||||||||||||||
United States SOFR |
1.95% maturity | Receive | 02/24/2024 | USD | 86,000 | (1,290 | ) | (1,558 | ) | (2,848 | ) | |||||||||||||||||
United States SOFR |
4.25% annually | Pay | 12/20/2025 | USD | 25,300 | (272 | ) | 7 | (265 | ) | ||||||||||||||||||
United States SOFR |
1.00% annually | Receive | 06/15/2027 | USD | 18,400 | (1,933 | ) | (478 | ) | (2,411 | ) | |||||||||||||||||
United States SOFR |
3.50% annually | Pay | 12/20/2030 | USD | 27,100 | (997 | ) | (212 | ) | (1,209 | ) | |||||||||||||||||
United States SOFR |
3.25% annually | Pay | 12/20/2053 | USD | 6,300 | 589 | 203 | 792 | ||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||
Total | (3,903 | ) | (2,038 | ) | (5,941 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
(a) | Value of floating rate index as of September 30, 2023 was as follows: |
FLOATING RATE INDEX |
||||
United States SOFR |
5.31 | % |
OTC Credit Default Swaps contracts outstanding buy protection (1) as of September 30, 2023:
REFERENCE OBLIGATION/ INDEX |
FINANCING RATE PAID BY THE FUND(%) |
PAYMENT FREQUENCY |
COUNTERPARTY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (3) |
NOTIONAL AMOUNT (4) |
UPFRONT PAYMENTS (RECEIPTS) ($) (5) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
|||||||||||||||||||||||||
Intrum AB, 3,13%, 07/15/2024 | 5.00 | % | quarterly | Goldman Sachs | 06/20/2028 | 11.13 | EUR | 67 | 14 | (1 | ) | 13 | ||||||||||||||||||||||
Picard Bondco SA, 5.38%, 07/01/2027 | 5.00 | % | quarterly | BNP Paribas | 06/20/2028 | 4.75 | EUR | 37 | 1 | (1 | ) | | (h) | |||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total | 15 | (2 | ) | 13 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
OTC Credit Default Swaps contracts outstanding sell protection (2) as of September 30, 2023:
REFERENCE OBLIGATION/ INDEX |
FINANCING RATE RECEIVED BY THE FUND(%) |
PAYMENT FREQUENCY |
COUNTERPARTY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (3) |
NOTIONAL AMOUNT (4) |
UPFRONT PAYMENTS (RECEIPTS) ($) (5) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
|||||||||||||||||||||||
thyssenkrupp AG, 2.50%, 02/25/2025 |
1.00 | % | quarterly | Bank of America, NA | 12/20/2023 | 0.23 | EUR | 140 | (4 | ) | 4 | | (h) | |||||||||||||||||||
CMA CGM SA, 7.50%, 01/15/2026 |
5.00 | % | quarterly | Goldman Sachs | 06/20/2026 | 1.14 | EUR | 10 | 1 | | (h) | 1 | ||||||||||||||||||||
Jaguar Land Rover Automotive, 2.20%, 01/15/2024 |
5.00 | % | quarterly | Bank of America, NA | 06/20/2026 | 3.80 | EUR | 68 | (2 | ) | 4 | 2 | ||||||||||||||||||||
Jaguar Land Rover Automotive, 2.20%, 01/15/2024 |
5.00 | % | quarterly | Bank of America, NA | 12/20/2026 | 4.43 | EUR | 20 | (1 | ) | 1 | | (h) | |||||||||||||||||||
Jaguar Land Rover Automotive, 2.20%, 01/15/2024 |
5.00 | % | quarterly | Barclays Bank plc | 12/20/2026 | 4.43 | EUR | 30 | 1 | (h) | (1 | )(h) | | (h) | ||||||||||||||||||
Jaguar Land Rover Automotive, 2.20%, 01/15/2024 |
5.00 | % | quarterly | Morgan Stanley | 12/20/2026 | 4.43 | EUR | 10 | | | | (h) | ||||||||||||||||||||
CMA CGM SA, 7.50%, 01/15/2026 |
5.00 | % | quarterly | Barclays Bank plc | 06/20/2027 | 1.48 | EUR | 49 | 1 | 5 | 6 |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
REFERENCE OBLIGATION/ INDEX |
FINANCING RATE RECEIVED BY THE FUND(%) |
PAYMENT FREQUENCY |
COUNTERPARTY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (3) |
NOTIONAL AMOUNT (4) |
UPFRONT PAYMENTS (RECEIPTS) ($) (5) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
|||||||||||||||||||||||||
CMA CGM SA, 7.50%, 01/15/2026 |
5.00 | % | quarterly | Goldman Sachs | 06/20/2027 | 1.48 | EUR | 70 | 2 | 7 | 9 | |||||||||||||||||||||||
Adler Real Estate AG, 2.13%, 02/06/2024 |
5.00 | % | quarterly | Bank of America, NA | 12/20/2027 | 12.20 | EUR | 200 | (49 | ) | 13 | (36 | ) | |||||||||||||||||||||
United Group BV, 3.63%, 02/15/2028 |
5.00 | % | quarterly | Bank of America, NA | 12/20/2027 | 5.76 | EUR | 73 | (11 | ) | 9 | (2 | ) | |||||||||||||||||||||
Vietnam Government International Bond, 4.80%, 11/19/2024 |
1.00 | % | quarterly | Citibank, NA | 12/20/2027 | 1.21 | USD | 4,300 | (124 | ) | 93 | (31 | ) | |||||||||||||||||||||
Ladbrokers Group Finance plc, 5.13%, 09/08/2023 |
1.00 | % | quarterly | Morgan Stanley | 06/20/2028 | 2.07 | EUR | 259 | (19 | ) | 7 | (12 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total | (205 | ) | 142 | (63 | ) | |||||||||||||||||||||||||||||
|
|
|
|
|
|
Centrally Cleared Credit Default Swaps contracts outstanding buy protection (1) as of September 30, 2023:
REFERENCE OBLIGATION/ INDEX |
FINANCING RATE PAID BY THE FUND(%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (3) |
NOTIONAL AMOUNT (4) |
UPFRONT PAYMENTS (RECEIPTS) ($) (5) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||||||||
CDX.NA.IG.41-V1 | 1.00 | % | quarterly | 12/20/2028 | 0.73 | USD | 37,500 | (543 | ) | 74 | (469 | ) | ||||||||||||||||||||||||
CDX.NA.IG.41-V1 | 1.00 | % | quarterly | 12/20/2028 | 0.73 | USD | 79,660 | (1,143 | ) | 147 | (996 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total | (1,686 | ) | 221 | (1,465 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
Centrally Cleared Credit Default Swaps contracts outstanding sell protection (2) as of September 30, 2023:
REFERENCE OBLIGATION/ INDEX |
FINANCING RATE RECEIVED BY THE FUND(%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (3) |
NOTIONAL AMOUNT (4) |
UPFRONT PAYMENTS (RECEIPTS) ($) (5) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||||||||
CDX.NA.HY.41-V1 | 5.00 | % | quarterly | 12/20/2028 | 4.76 | USD | 48,830 | 392 | 138 | 530 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total | 392 | 138 | 530 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
(1) | The Fund, as a buyer of credit protection, is generally obligated to make periodic payments and may also pay or receive an upfront premium to or from the protection seller, in exchange for the right to receive a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
(2) | The Fund, as a seller of credit protection, receives periodic payments and may also receive or pay an upfront premium from or to the protection buyer, and is obligated to make a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
(3) | Implied credit spreads are an indication of the sellers performance risk, related to the likelihood of a credit event occurring that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying reference obligations included in a particular index. |
(4) | The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit protection would receive, upon occurrence of a credit event. |
(5) | Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors). |
Six Circles Credit Opportunities Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
(Amounts in U.S. Dollars, unless otherwise noted)
(Amounts in thousands, except number of Futures contracts)
NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023
CDX | | Credit Default Swap Index | ||
CLO | | Collateralized Loan Obligations | ||
CMT | | Constant Maturity Treasury | ||
DN | | Discount Notes | ||
EURIBOR | | Euro Interbank Offered Rate | ||
FHLB | | Federal Home Loan Bank | ||
FHLMC | | Federal Home Loan Mortgage Corp. | ||
FNMA | | Federal National Mortgage Association | ||
ICE | | Intercontinental Exchange | ||
IO | | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. | ||
LIBOR | | London Interbank Offered Rate | ||
Reg. S | | Security was purchased pursuant to Regulation S under the Securities Act of 1933, as amended (the Securities Act), which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act, or pursuant to an exemption from registration. | ||
REIT | | Real Estate Investment Trust | ||
SOFR | | Secured Overnight Financing Rate | ||
(a) | | Non-income producing security. | ||
(d) | | Defaulted Security. Security has not paid its last interest payment and/or interest is not being accrued. | ||
(e) | | Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | ||
(f) | | Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended. | ||
(g) | | Amount rounds to less than 0.05%. | ||
(h) | | Amount rounds to less than 500 shares or principal/ $500. | ||
(n) | | The rate shown is the effective yield as of September 30, 2023. | ||
(o) | | Loan assignments are presented by obligor. Each Series or loan tranche underlying each obligor may have varying terms. | ||
(u) | | All or a portion of the security is unsettled as of September 30, 2023. Unless otherwise indicated, the coupon rate is undetermined. | ||
(v) | | Security has the ability to pay in kind (PIK) or pay income in cash. When applicable, separate rates of such payments are disclosed. | ||
(w) | | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | ||
(x) | | Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2023. | ||
(z) | | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of September 30, 2023. | ||
(aa) | | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of September 30, 2023. | ||
(bb) | | Security has been valued using significant unobservable inputs. | ||
(cc) | | Security is valued in good faith at fair value by or under the direction of the Board of Trustees. | ||
(ee) | | Approximately $3,358 of these investments are restricted as collateral for swaps to Citigroup Clearing. | ||
* | | The cost of securities is substantially the same for federal income tax purposes. | ||
CAD | | Canadian Dollar | ||
CHF | | Swiss Franc | ||
EUR | | Euro | ||
GBP | | British Pound | ||
USD | | United States Dollar |
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited)
A. Valuation of Investments The valuation of investments is in accordance with U.S. generally accepted accounting principles (GAAP) and the Funds valuation policies set forth by and under the supervision and responsibility of the Board of Trustees (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 unadjusted quoted prices 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.
The Board has designated the J.P. Morgan Private Investments Inc. (the Adviser) as the Valuation Designee, and the Adviser uses the Six Circles Funds Valuation Committee (VC), comprised of officers of the Funds and other personnel of the Adviser, to assist the Board with the oversight and monitoring of the valuation of the Funds investments with respect to Rule 2a-5 under the 1940 Act. The VC oversees and carries out policies and procedures for the valuation of investments held by the Funds. This 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 due diligence. The VC, through the Adviser, is responsible for assessing the potential impacts to the fair values on an ongoing basis, and discussing this on at least a quarterly basis with the Board.
A market-based approach is primarily used to value the Funds investments for which market quotations are readily available and which are generally valued at their current market value. Other securities and assets, including securities for which market quotations are not readily available, market quotations are determined not to be reliable, or whose value has been materially affected by events occurring after the close of trading on the exchange or market on which the security is principally traded but before a Funds net asset value (NAV) is calculated, are valued by approved 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. The valuation may include related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment in order to determine the fair value of 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 be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based on 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.
Equity securities listed on a North American, Central American, South American or Caribbean (Americas) securities exchange are generally valued at the last sale price or official market closing price on the primary exchange on which the security is principally traded that is reported before the time when the net assets values of the Funds are calculated on a valuation date. The Funds calculate their NAV as of 4 p.m. Eastern time each day the New York Stock Exchange (NYSE) is open for trading.
Foreign equity securities are valued as of the close of trading on the stock exchange on which the security is primarily traded, or as of 4 p.m. Eastern time. The value is then converted into its U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. Eastern time on the day that the value of the security is determined. Generally foreign equity securities, as well as certain derivatives with equity reference obligations, 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 NAVs are calculated. The fair valued securities are converted at the exchange rates available at 4 p.m. Eastern time.
Fixed income securities are valued based on prices received from Pricing Services. 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, Pricing Services may consider a variety of inputs and factors, including, but not limited to proprietary models that may take into account market transactions in securities with comparable characteristics, yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, underlying collateral and estimated cash flows.
Pricing services generally value fixed-income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots.
Shares of exchange-traded funds (ETFs) are generally valued at the last sale price on the exchange on which the ETF is principally traded. Shares of open-end investment companies are valued at their respective NAVs.
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Exchange-traded futures contracts and options are generally valued on the basis of available market quotations. Swaps, forward foreign currency exchange contracts and over the counter options 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 Funds 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 Funds assumptions in determining the fair value of investments). |
A financial instruments 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.
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
The following tables represent each valuation input as presented on the Schedules of Portfolio Investments (SOIs) (amounts in thousands):
Six Circles Ultra Short Duration Fund
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Investments in Securities |
||||||||||||||||
Debt Securities |
||||||||||||||||
Asset-Backed Securities |
| 122,773 | | 122,773 | ||||||||||||
Collateralized Mortgage Obligations |
| 19,316 | | 19,316 | ||||||||||||
Commercial Mortgage-Backed Securities |
| 23,795 | | 23,795 | ||||||||||||
Corporate Bonds |
||||||||||||||||
Basic Materials |
| 1,501 | | 1,501 | ||||||||||||
Communications |
| 20,677 | | 20,677 | ||||||||||||
Consumer Cyclical |
| 33,593 | | 33,593 | ||||||||||||
Consumer Non-cyclical |
| 41,101 | | 41,101 | ||||||||||||
Energy |
| 11,294 | | 11,294 | ||||||||||||
Financial |
| 114,688 | | 114,688 | ||||||||||||
Industrial |
| 30,938 | | 30,938 | ||||||||||||
Technology |
| 20,871 | | 20,871 | ||||||||||||
Utilities |
| 13,612 | | 13,612 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Corporate Bonds |
| 288,275 | | 288,275 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Foreign Government Securities |
| 3,284 | | 3,284 | ||||||||||||
Municipal Bonds |
| 2,104 | | 2,104 | ||||||||||||
U.S. Government Agency Securities |
| 37,000 | | 37,000 | ||||||||||||
U.S. Treasury Obligations |
| 29,803 | | 29,803 | ||||||||||||
Short-Term Investments |
||||||||||||||||
Bankers Acceptance Bill |
| 2,854 | | 2,854 | ||||||||||||
Certificates of Deposit |
| 3,999 | | 3,999 | ||||||||||||
Commercial Papers |
| 31,440 | | 31,440 | ||||||||||||
Foreign Government Securities |
| 17,260 | | 17,260 | ||||||||||||
Time Deposits |
| 1,147 | | 1,147 | ||||||||||||
U.S. Treasury Obligations |
| 9,872 | | 9,872 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Short-Term Investments |
| 66,572 | | 66,572 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | | $ | 592,922 | $ | | $ | 592,922 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Appreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | 213 | $ | | $ | | $ | 213 | ||||||||
Forward Foreign Currency Exchange contracts |
| 794 | | 794 | ||||||||||||
Centrally Cleared Credit Default Swap contract |
| 3 | | 3 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Appreciation in Other Financial Instruments |
$ | 213 | $ | 797 | $ | | $ | 1,010 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Depreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | (117 | ) | $ | | $ | | $ | (117 | ) | ||||||
Forward Foreign Currency Exchange contracts |
| (60 | ) | | (60 | ) | ||||||||||
Centrally Cleared Credit Default Swap contract |
| (2 | ) | | (2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Depreciation in Other Financial Instruments |
$ | (117 | ) | $ | (62 | ) | $ | | $ | (179 | ) | |||||
|
|
|
|
|
|
|
|
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Six Circles Tax Aware Ultra Short Duration Fund
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Investments in Securities |
||||||||||||||||
Debt Securities |
||||||||||||||||
Asset-Backed Securities |
| 46,681 | | 46,681 | ||||||||||||
Collateralized Mortgage Obligations |
| 17,107 | | 17,107 | ||||||||||||
Commercial Mortgage-Backed Securities |
| 9,085 | | 9,085 | ||||||||||||
Corporate Bonds |
||||||||||||||||
Communications |
| 3,208 | | 3,208 | ||||||||||||
Consumer Cyclical |
| 3,271 | | 3,271 | ||||||||||||
Consumer Non-cyclical |
| 11,132 | | 11,132 | ||||||||||||
Energy |
| 1,499 | | 1,499 | ||||||||||||
Financial |
| 50,895 | | 50,895 | ||||||||||||
Industrial |
| 2,169 | | 2,169 | ||||||||||||
Technology |
| 2,833 | | 2,833 | ||||||||||||
Utilities |
| 5,259 | | 5,259 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Corporate Bonds |
| 80,266 | | 80,266 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Foreign Government Securities |
| 3,850 | | 3,850 | ||||||||||||
Municipal Bonds |
| 471,065 | | 471,065 | ||||||||||||
U.S. Government Agency Securities |
| 18,216 | | 18,216 | ||||||||||||
Short-Term Investments |
||||||||||||||||
Bankers Acceptance Bill |
| 3,586 | | 3,586 | ||||||||||||
Commercial Papers |
| 28,312 | | 28,312 | ||||||||||||
Municipal Bond |
| 5,059 | | 5,059 | ||||||||||||
Time Deposits |
| 1,035 | | 1,035 | ||||||||||||
U.S. Treasury Obligation |
| 71 | | 71 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Short-Term Investments |
| 38,063 | | 38,063 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | | $ | 684,333 | $ | | $ | 684,333 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Appreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | 205 | $ | | $ | | $ | 205 | ||||||||
Forward Foreign Currency Exchange contracts |
| 291 | | 291 | ||||||||||||
Centrally Cleared Credit Default Swap contract |
| 3 | | 3 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Appreciation in Other Financial Instruments |
$ | 205 | $ | 294 | $ | | $ | 499 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Depreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | (147 | ) | $ | | $ | | $ | (147 | ) | ||||||
Forward Foreign Currency Exchange contracts |
| (50 | ) | | (50 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Depreciation in Other Financial Instruments |
$ | (147 | ) | $ | (50 | ) | $ | | $ | (197 | ) | |||||
|
|
|
|
|
|
|
|
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Six Circles U.S. Unconstrained Equity Fund
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Investments in Securities |
||||||||||||||||
Common Stocks |
||||||||||||||||
Basic Materials |
122,981 | | | 122,981 | ||||||||||||
Communications |
3,247,689 | | | 3,247,689 | ||||||||||||
Consumer Cyclical |
566,854 | | | 566,854 | ||||||||||||
Consumer Non-cyclical |
4,394,466 | | | 4,394,466 | ||||||||||||
Energy |
641,828 | | | 641,828 | ||||||||||||
Financial |
3,607,804 | | | 3,607,804 | ||||||||||||
Industrial |
1,577,868 | | | 1,577,868 | ||||||||||||
Technology |
5,378,950 | | | 5,378,950 | ||||||||||||
Utilities |
143,733 | | | 143,733 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Common Stocks |
19,682,173 | | | 19,682,173 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Short-Term Investments |
||||||||||||||||
Time Deposits |
| 167,999 | | 167,999 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | 19,682,173 | $ | 167,999 | $ | | $ | 19,850,172 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Depreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | (6,168 | ) | $ | | $ | | $ | (6,168 | ) |
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Six Circles International Unconstrained Equity Fund
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Investments in Securities |
||||||||||||||||
Common Stocks |
||||||||||||||||
Austria |
| 28,133 | | 28,133 | ||||||||||||
Belgium |
1,407 | 209,565 | | 210,972 | ||||||||||||
Chile |
| 4,545 | | 4,545 | ||||||||||||
China |
| 1,393 | | 1,393 | ||||||||||||
Denmark |
| 472,177 | | 472,177 | ||||||||||||
Finland |
| 131,682 | | 131,682 | ||||||||||||
France |
| 1,899,724 | | 1,899,724 | ||||||||||||
Germany |
| 1,563,190 | | 1,563,190 | ||||||||||||
Hong Kong |
| 41,343 | | 41,343 | ||||||||||||
Ireland |
10,572 | 121,583 | | 132,155 | ||||||||||||
Italy |
| 334,954 | | 334,954 | ||||||||||||
Japan |
611 | 630,253 | | 630,864 | ||||||||||||
Jordan |
| 4,988 | | 4,988 | ||||||||||||
Luxembourg |
| 12,391 | | 12,391 | ||||||||||||
Netherlands |
1,569 | 1,109,388 | | 1,110,957 | ||||||||||||
Norway |
| 83,728 | | 83,728 | ||||||||||||
Portugal |
| 22,748 | | 22,748 | ||||||||||||
Spain |
| 343,623 | | 343,623 | ||||||||||||
Sweden |
| 368,555 | | 368,555 | ||||||||||||
Switzerland |
| 2,188,955 | | 2,188,955 | ||||||||||||
Taiwan |
| 225,833 | | 225,833 | ||||||||||||
United Arab Emirates |
| | | | ||||||||||||
United Kingdom |
44,650 | 2,358,435 | | 2,403,085 | ||||||||||||
United States |
| 1,071 | | 1,071 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Common Stocks |
58,809 | 12,158,257 | | 12,217,066 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Preferred Stocks |
||||||||||||||||
Germany |
| 30,047 | | 30,047 | ||||||||||||
Short-Term Investments |
||||||||||||||||
Time Deposits |
| 112,910 | | 112,910 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | 58,809 | $ | 12,301,214 | $ | | $ | 12,360,023 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Appreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | 660 | $ | | $ | | $ | 660 | ||||||||
Depreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | (552 | ) | $ | | $ | | $ | (552 | ) |
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Six Circles Global Bond Fund
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Investments in Securities |
||||||||||||||||
Debt Securities |
||||||||||||||||
Asset-Backed Securities |
| 62,629 | | 62,629 | ||||||||||||
Collateralized Mortgage Obligations |
| 226,940 | | 226,940 | ||||||||||||
Commercial Mortgage-Backed Securities |
| 45,452 | | 45,452 | ||||||||||||
Corporate Bonds |
||||||||||||||||
Basic Materials |
| 103,584 | | 103,584 | ||||||||||||
Communications |
| 222,940 | | 222,940 | ||||||||||||
Consumer Cyclical |
| 261,964 | | 261,964 | ||||||||||||
Consumer Non-cyclical |
| 519,232 | | 519,232 | ||||||||||||
Energy |
| 157,827 | | 157,827 | ||||||||||||
Financial |
| 1,798,355 | | 1,798,355 | ||||||||||||
Government |
| 306,060 | | 306,060 | ||||||||||||
Industrial |
| 285,666 | | 285,666 | ||||||||||||
Technology |
| 148,638 | | 148,638 | ||||||||||||
Utilities |
| 328,838 | | 328,838 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Corporate Bonds |
| 4,133,104 | | 4,133,104 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Foreign Government Securities |
| 3,099,908 | | 3,099,908 | ||||||||||||
Mortgage-Backed Securities |
| 1,374,919 | 436 | 1,375,355 | ||||||||||||
Municipal Bonds |
| 6,562 | | 6,562 | ||||||||||||
U.S. Government Agency Securities |
| 13,053 | | 13,053 | ||||||||||||
U.S. Treasury Obligations |
| 1,085,967 | | 1,085,967 | ||||||||||||
Short-Term Investments |
||||||||||||||||
Repurchase Agreement |
| 6,500 | | 6,500 | ||||||||||||
Time Deposits |
| 142,561 | | 142,561 | ||||||||||||
U.S. Government Agency Security |
| 686 | | 686 | ||||||||||||
U.S. Treasury Obligations |
| 11,673 | | 11,673 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Short-Term Investments |
| 161,420 | | 161,420 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | | $ | 10,209,954 | $ | 436 | $ | 10,210,390 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Liabilities |
||||||||||||||||
Debt Securities |
||||||||||||||||
Mortgage-Backed Securities |
$ | | $ | 164,199 | $ | | $ | 164,199 | ||||||||
Reverse Repurchase Agreements |
| 98,919 | | 98,919 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Liabilities |
$ | | $ | 263,118 | $ | | $ | 263,118 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Appreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | 2,573 | $ | | $ | | $ | 2,573 | ||||||||
Forward Foreign Currency Exchange contracts |
| 191,378 | | 191,378 | ||||||||||||
Centrally Cleared Interest Rate Swap contracts |
| 6,461 | | 6,461 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Appreciation in Other Financial Instruments |
$ | 2,573 | $ | 197,839 | $ | | $ | 200,412 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Depreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | (4,126 | ) | $ | | $ | | $ | (4,126 | ) | ||||||
Forward Foreign Currency Exchange contracts |
| (16,374 | ) | | (16,374 | ) | ||||||||||
OTC Interest Rate Swaps contracts |
| (117 | ) | | (117 | ) | ||||||||||
Centrally Cleared Interest Rate Swap contracts |
| (10,124 | ) | | (10,124 | ) | ||||||||||
Written Option contracts |
||||||||||||||||
Written Put Option contracts |
| (641 | ) | | (641 | ) | ||||||||||
Written Call Option contracts |
| (21 | ) | | (21 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Written Option contracts |
| (662 | ) | | (662 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Depreciation in Other Financial Instruments |
$ | (4,126 | ) | $ | (27,277 | ) | $ | | $ | (31,403 | ) | |||||
|
|
|
|
|
|
|
|
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Six Circles Tax Aware Bond Fund
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Investments in Securities |
||||||||||||||||
Debt Securities |
||||||||||||||||
Corporate Bond |
||||||||||||||||
Consumer Non-cyclical |
| 445 | | 445 | ||||||||||||
Municipal Bonds |
| 6,143,296 | | 6,143,296 | ||||||||||||
Short-Term Investments |
||||||||||||||||
Municipal Bonds |
| 2,203 | | 2,203 | ||||||||||||
Time Deposits |
| 89,575 | | 89,575 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Short-Term Investments |
| 91,778 | | 91,778 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | | $ | 6,235,519 | $ | | $ | 6,235,519 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Appreciation in Other Financial Instruments |
||||||||||||||||
Future contract |
$ | 555 | $ | | $ | | $ | 555 | ||||||||
Depreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | (387 | ) | $ | | $ | | $ | (387 | ) |
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Six Circles Credit Opportunities Fund
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Investments in Securities |
||||||||||||||||
Debt Securities |
||||||||||||||||
Asset-Backed Securities |
| 112,996 | | 112,996 | ||||||||||||
Collateralized Mortgage Obligations |
| 2,622 | | 2,622 | ||||||||||||
Commercial Mortgage-Backed Securities |
| 4,881 | | 4,881 | ||||||||||||
Convertible Bonds |
||||||||||||||||
Communications |
| 7,885 | | 7,885 | ||||||||||||
Consumer Cyclical |
| 2,947 | | 2,947 | ||||||||||||
Consumer Non-cyclical |
| 609 | | 609 | ||||||||||||
Financial |
| 773 | | 773 | ||||||||||||
Industrial |
| 282 | | 282 | ||||||||||||
Technology |
| 88 | | 88 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Convertible Bonds |
| 12,584 | | 12,584 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Corporate Bonds |
||||||||||||||||
Basic Materials |
| 146,346 | | 146,346 | ||||||||||||
Communications |
| 286,653 | | (a) | 286,653 | |||||||||||
Consumer Cyclical |
| 543,301 | | 543,301 | ||||||||||||
Consumer Non-cyclical |
| 340,980 | | 340,980 | ||||||||||||
Diversified |
| 3,048 | | 3,048 | ||||||||||||
Energy |
| 341,848 | | 341,848 | ||||||||||||
Financial |
| 426,468 | 106 | 426,574 | ||||||||||||
Industrial |
| 336,203 | | 336,203 | ||||||||||||
Technology |
| 123,947 | | 123,947 | ||||||||||||
Utilities |
| 119,803 | | 119,803 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Corporate Bonds |
| 2,668,597 | 106 | 2,668,703 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Foreign Government Securities |
| 63,872 | | 63,872 | ||||||||||||
U.S. Treasury Obligations |
| 52,995 | | 52,995 | ||||||||||||
Common Stock |
||||||||||||||||
Communications |
| | 1,852 | 1,852 | ||||||||||||
Preferred Stock |
||||||||||||||||
Consumer Cyclical |
| | 6,467 | 6,467 | ||||||||||||
Loan Assignments |
||||||||||||||||
Basic Materials |
| 7,076 | | 7,076 | ||||||||||||
Communications |
| 26,405 | | 26,405 | ||||||||||||
Consumer Cyclical |
| 15,232 | | 15,232 | ||||||||||||
Consumer, Non-cyclical |
| 16,687 | | 16,687 | ||||||||||||
Diversified |
| 864 | | 864 | ||||||||||||
Energy |
| 2,102 | | 2,102 | ||||||||||||
Financial |
| 9,379 | | 9,379 | ||||||||||||
Industrial |
| 20,541 | | 20,541 | ||||||||||||
Technology |
| 48,923 | | 48,923 | ||||||||||||
Utilities |
| 487 | | 487 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Loan Assignments |
| 147,696 | | 147,696 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Rights |
||||||||||||||||
Communications |
| | 136 | 136 |
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Six Circles Credit Opportunities Fund (continued)
Level 1 Quoted prices |
Level 2 Other significant observable inputs |
Level 3 Significant unobservable inputs |
Total | |||||||||||||
Short-Term Investments |
||||||||||||||||
Commercial Papers |
| 2,406 | | 2,406 | ||||||||||||
Time Deposits |
| 38,626 | | 38,626 | ||||||||||||
U.S. Government Agency Securities |
| 29,291 | | 29,291 | ||||||||||||
U.S. Treasury Obligations |
| 30,774 | | 30,774 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Short-Term Investments |
| 101,097 | | 101,097 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities |
$ | | $ | 3,167,340 | $ | 8,561 | $ | 3,175,901 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Appreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | 291 | $ | | $ | | $ | 291 | ||||||||
Forward Foreign Currency Exchange contracts |
| 441 | | 441 | ||||||||||||
Centrally Cleared Interest Rate Swap contracts |
| 210 | | 210 | ||||||||||||
OTC Credit Default Swaps contracts |
| 143 | | 143 | ||||||||||||
Centrally Cleared Credit Default Swaps contracts |
| 359 | | 359 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Appreciation in Other Financial Instruments |
$ | 291 | $ | 1,153 | $ | | $ | 1,444 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Depreciation in Other Financial Instruments |
||||||||||||||||
Futures contracts |
$ | (1,044 | ) | $ | | $ | | $ | (1,044 | ) | ||||||
Forward Foreign Currency contract |
| (2 | ) | | (2 | ) | ||||||||||
Centrally Cleared Interest Rate Swap contracts |
| (2,248 | ) | | (2,248 | ) | ||||||||||
OTC Credit Default Swaps contracts |
| (3 | ) | | (3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Depreciation in Other Financial Instruments |
$ | (1,044 | ) | $ | (2,253 | ) | $ | | $ | (3,297 | ) | |||||
|
|
|
|
|
|
|
|
(a) | Amount rounds to less than $500. |
B. Loan Assignments The Six Circles Credit Opportunities Fund invests in debt instruments that are interests in amounts owed to lenders or lending syndicates (a Lender) by corporate, governmental or other borrowers (a Borrower). A loan is typically originated, negotiated and structured by a U.S. or foreign bank, insurance company or other financial institution (the Agent) for a group of loan investors (Loan Investors). The Agent administers the terms of the loan, as specified in the loan agreement. When a Fund purchases a loan assignment, the Fund has direct rights against the Borrower on a loan, provided, however, the Funds rights may be more limited than the lender from which it acquired the assignment and the Fund may be able to enforce its rights only through the Agent. As a result, the Fund assumes the credit risk of the Borrower, the selling participant and any other persons interpositioned between each Fund and the Borrower (Intermediate Participants). In the event that the Borrower, selling participant or Intermediate Participants become insolvent or enter into bankruptcy, the Fund may incur certain costs and delays in realizing payment or may suffer a loss of principal and/or interest. The Adviser or Sub-Advisers may have access to material nonpublic information regarding the Borrower.
Certain loan assignments are also subject to the risks associated with high yield securities.
Unfunded commitments represent the remaining obligation of each Fund to the Borrower. At any point in time, up to the maturity date of the issue, the Borrower may demand the unfunded portion. As of September 30, 2023, the Six Circles Credit Opportunities Fund had the following loan commitments outstanding in which all of the commitment was unfunded (amounts in thousands):
Unfunded Commitment |
Funded Commitment |
Total Commitment |
||||||||||||||||||||||||||||||||||||
Security Description |
Term |
Maturity Date |
Commitment Fee Rate |
Rate if Funded |
Par | Value | Par | Value | Par | Value | ||||||||||||||||||||||||||||
OMNIA Partners, LLC |
Delayed Draw Term Loan |
07/25/2030 | 0.05 | % | 9.53 | % | $ | 37,991 | $ | 37,999 | $ | | $ | | $ | 37,991 | $ | 37,999 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 37,991 | $ | 37,999 | $ | | $ | | $ | 37,991 | $ | 37,999 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
C. Derivatives The Funds used derivative instruments including options, futures contracts, forward foreign currency exchange contracts and swaps, in connection with their respective investment strategies. Derivative instruments may be used as substitutes for securities in which the Funds can invest, to hedge portfolio investments or to generate income or gain to the Funds. Derivatives may also be used to manage duration, sector and yield curve exposures as well as credit and spread volatility.
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
The Funds 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 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 Funds risk of loss associated with these instruments may exceed their value.
The Funds are party to various derivative contracts governed by International Swaps and Derivatives Association master agreements (ISDA agreements). The Funds ISDA agreements, which are separately negotiated by the Sub-Advisers, with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not otherwise waived, against the Funds in the event the Funds 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 Funds to exercise rights, to the extent not otherwise waived, against a counterparty (e.g., decline in a counterpartys credit rating below a specified level). Such rights for both a counterparty and the Funds 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 Funds. The ISDA agreements give the Funds 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 with collateral posted to a segregated account by one party to the other.
Counterparty credit risk may be mitigated to the extent a counterparty posts collateral for mark-to-market gains to the Fund.
Notes C(1) C(4) below describe the various derivatives used by the Funds.
(1) Options The Six Circles Global Bond Fund purchased and sold (wrote) put and call options on securities to manage and hedge interest rate risks within its portfolio and also to gain long or short exposure to the underlying instrument. A purchaser of a put option has the right, but not the obligation, to sell the underlying instrument at an agreed upon price (strike price) to the option seller. A purchaser of a call option has the right, but not the obligation, to purchase the underlying instrument at the strike price from the option seller.
Options Purchased The option is adjusted daily to reflect the current market value of the option. If the option is allowed to expire, the Funds will lose the entire premium they paid and record a realized loss for the premium amount. Premiums paid for options purchased which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain (loss) or cost basis of the underlying investment.
Options Written The amount of the liability is adjusted daily to reflect the current market value of the option written. Premiums received from options written that expire are treated as realized gains. If a written option is closed, the Funds record a realized gain or loss on options written based on whether the cost of the closing transaction exceeds the premium received. If a call option is exercised by the option buyer, the premium received by the Funds is added to the proceeds from the sale of the underlying security to the option buyer and compared to the cost of the closing transaction to determine whether there has been a realized gain or loss. If a put option is exercised by an option buyer, the premium received by the option seller reduces the cost basis of the purchased security.
Written uncovered call options subject the Funds to unlimited risk of loss. Written covered call options limit the upside potential of a security above the strike price. Written put options subject the Funds to risk of loss if the value of the security declines below the exercise price minus the put premium.
The Funds are not subject to credit risk on options written as the counterparty has already performed its obligation by paying the premium at the inception of the contract.
The Funds option contracts are subject to master netting arrangements.
(2) Futures Contracts The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, Six Circles Tax Aware Bond Fund and Six Circles Credit Opportunities Fund used interest rate futures to manage interest rate risks associated with portfolio investments. The Six Circles U.S. Unconstrained Equity Fund and Six Circles International Unconstrained Equity Fund used index futures to gain or reduce exposure to certain countries or regions, to maintain liquidity or minimize transaction costs.
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
Futures contracts may 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 Funds are 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 Funds 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. Futures contracts outstanding at period end, if any, are listed after each Funds SOI.
The use of futures contracts may expose the Funds to interest rate and equity price risks. The Funds may be subject 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 subjects 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 Funds 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 Funds 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 days settlement price, which could effectively prevent the liquidation of positions.
The Funds 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).
(3) Forward Foreign Currency Exchange Contracts The Six Circles International Unconstrained Equity Fund, Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund may be 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 Funds 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 foreign currency. Forward contracts outstanding at period end, if any, are listed after each Funds SOI.
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/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 when a forward foreign currency exchange contract offsets another forward foreign currency exchange contract with the same counterparty upon settlement.
The Funds forward foreign currency exchange contracts may be subject to master netting arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions). The Funds may be required to post or receive collateral for non-deliverable forward foreign currency exchange contracts.
(4) Swaps The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund, and the Six Circles Credit Opportunities Fund engaged in various swap transactions, including interest swaps, to manage interest rate (e.g., duration, yield curve) risks within their respective portfolios. The Funds also used swaps as alternatives to direct investments. Swap transactions are negotiated contracts over the counter (OTC swaps) between a fund and a counterparty or centrally cleared (centrally cleared swaps) with a central clearinghouse through a Futures Commission Merchant (FCM), to exchange investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals. Swap contracts outstanding at period end, if any, are listed after each Funds SOI.
Upfront payments made and/or received are recorded as assets or liabilities and amortized over the term of the swap. The value of an OTC swap agreement is recorded as either an asset or a liability at the beginning of the measurement period.
Upon entering into a centrally cleared swap, the Funds are required to deposit with the FCM cash or securities, which is referred to as initial margin deposit. Securities deposited as initial margin are designated on the SOIs. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a variation margin receivable or payable. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is reported as change in net unrealized appreciation/depreciation. A realized gain or loss is recorded upon payment or receipt of a periodic payment or payment made upon termination of a swap agreement.
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2023 (Unaudited) (continued)
The central clearing house acts as the counterparty to each centrally cleared swap transaction, therefore credit risk is limited to the failure of the clearing house.
The Funds may be required to post or receive collateral in the form of cash or securities based on the net value of the Funds outstanding OTC swap contracts with the counterparty. Daily movement of collateral is subject to minimum threshold amounts. Collateral posted by the Funds is held in a segregated account at the Funds custodian bank. Collateral received by the Funds is held in escrow in segregated accounts maintained by Brown Brothers Harriman & Co.
The Funds swap contracts (excluding centrally cleared swaps) are subject to master netting arrangements.
Credit Default Swaps
Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund and Six Circles Credit Opportunities Fund entered into credit default swaps to simulate long and short bond positions or to take an active long or short position with respect to the likelihood of a default or credit event by the issuer of the underlying reference obligation.
The underlying reference obligation may be a single issuer of corporate or sovereign debt, a basket of issuers or a credit index. A credit index is a list of credit instruments or exposures that reference a fixed number of obligors with shared characteristics that represents some part of the credit market as a whole. Index credit default swaps have standardized terms including a fixed spread and standard maturity dates. The composition of the obligations within a particular index changes periodically.
Credit default swaps involve one party, the protection buyer, making a stream of payments to another party, the protection seller, in exchange for the right to receive a contingent payment if there is a credit event related to the underlying reference obligation. In the event that the reference obligation matures prior to the termination date of the contract, a similar security will be substituted for the duration of the contract term. Credit events are defined under individual swap agreements and generally include bankruptcy, failure to pay, restructuring, repudiation/moratorium, obligation acceleration and obligation default.
If a credit event occurs, the Funds, as protection sellers, would be obligated to make a payment, which may be either: (i) a net cash settlement equal to the notional amount of the swap less the auction value of the reference obligation or (ii) the notional amount of the swap in exchange for the delivery of the reference obligation. Selling protection effectively adds leverage to a Funds portfolio up to the notional amount of swap agreements.
The notional amount represents the maximum potential liability under a contract. Potential liabilities under these contracts may be reduced by: the auction rates of the underlying reference obligations; upfront payments received at the inception of a swap; and net amounts received from credit default swaps purchased with the identical reference obligation.
Interest Rate Swaps
The Six Circles Ultra Short Duration Fund, Six Circles Tax Aware Ultra Short Duration Fund, Six Circles Global Bond Fund and Six Circles Credit Opportunities Fund entered into interest rate swap contracts to manage fund exposure to interest rates and/or to preserve or generate a return on a particular investment or portion of its portfolio. These are agreements between counterparties to exchange periodic payments based on interest rates. One cash flow stream will typically be a floating rate payment based upon a specified interest rate while the other is typically a fixed interest rate.