NPORT-P false 0001659326 XXXXXXXX S000075349 C000237453 C000234322 C000234320 C000234321 JPMorgan Trust IV 811-23117 0001659326 549300OTMPZX852VDL37 277 Park Avenue New York 10172 800-480-4111 JPMorgan Preferred and Income Securities Fund S000075349 549300HNW9W4T1KS1666 2025-06-30 2025-06-30 N 1372930828.26 7026356.19 1365904472.07 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2433860.20000000 USD N N/A N/A Transcanada Trust 549300Y0MFCAXLBWUV51 89356BAG3 10245000.00000000 PA USD 9951575.21000000 0.728570365899 Long DBT CORP CA N 2 2082-03-07 Variable 5.60000000 N N N N N N Lloyds Banking Group plc 549300PPXHEU2JF0AM85 53944YBB8 4000000.00000000 PA USD 3913920.40000000 0.286544226190 Long DBT CORP GB N 2 2031-09-27 Variable 6.75000000 N N N N Y N/A USD XXXX N N N Athene Holding Ltd. 549300H316CT32FQXI76 04686J507 125000.00000000 NS USD 3198750.00000000 0.234185484080 Long EP CORP US N 1 N N N Fifth Third Bancorp THRNG6BD57P9QWTQLG42 316773CM0 6008000.00000000 PA USD 6044245.36000000 0.442508644168 Long DBT CORP US N 2 2025-08-07 Floating 7.59021840 N N N N N N Intesa Sanpaolo SpA 2W8N8UU78PMDQKZENC08 46115HCF2 10865000.00000000 PA USD 12707763.43000000 0.930355210766 Long DBT CORP IT Y 2 2053-11-28 Fixed 7.80000000 N N N N N N HSBC Holdings plc MLU0ZO3ML4LN2LL2TL39 404280EJ4 12000000.00000000 PA USD 12063552.00000000 0.883191485691 Long DBT CORP GB N 2 2034-03-11 Variable 6.95000000 N N N N Y N/A USD XXXX N N N Bank of New York Mellon Corp. (The) WFLLPEPC7FZXENRZV188 064058AL4 6729000.00000000 PA USD 6571952.41000000 0.481142901599 Long DBT CORP US N 2 2026-12-20 Variable 3.75000000 N N N N N N NiSource, Inc. 549300D8GOWWH0SJB189 65473PAR6 9880000.00000000 PA USD 10284763.74000000 0.752963618635 Long DBT CORP US N 2 2054-11-30 Variable 6.95000000 N N N N N N Exelon Corp. 3SOUA6IRML7435B56G12 30161NBQ3 2940000.00000000 PA USD 2990467.25000000 0.218936778607 Long DBT CORP US N 2 2055-03-15 Variable 6.50000000 N N N N N N Allianz SE 529900K9B0N5BT694847 018820AD2 3600000.00000000 PA USD 3588537.24000000 0.262722416785 Long DBT CORP DE Y 2 2054-09-03 Variable 5.60000000 N N N N N N Commerzbank AG 851WYGNLUQLFZBSYGB56 N/A 6200000.00000000 PA USD 6305648.00000000 0.461646339765 Long DBT CORP DE Y 2 2030-10-09 Variable 7.50000000 N N N N Y N/A USD XXXX N N N Allstate Corp. (The) OBT0W1ED8G0NWVOLOJ77 020002AU5 3615000.00000000 PA USD 3706882.46000000 0.271386655201 Long DBT CORP US N 2 2057-05-15 Variable 6.50000000 N N N N N N Truist Financial Corp. 549300DRQQI75D2JP341 89832QAD1 21047000.00000000 PA USD 21076444.75000000 1.543039442433 Long DBT CORP US N 2 2025-09-01 Variable 6.66900000 N N N N N N PartnerRe Finance B LLC 549300O0FAGHK2F79881 70213BAC5 2500000.00000000 PA USD 2352284.50000000 0.172214422611 Long DBT CORP US N 2 2050-10-01 Variable 4.50000000 N N N N N N MetLife, Inc. C4BXATY60WC6XEOZDX54 59156R876 44600.00000000 NS USD 1052114.00000000 0.077026909385 Long EP CORP US N 1 N N N Huntington Bancshares, Inc. 549300XTVCVV9I7B5T19 446150AV6 370000.00000000 PA USD 366107.10000000 0.026803272665 Long DBT CORP US N 2 2027-10-15 Variable 4.45000000 N N N N N N Bank of New York Mellon Corp. (The) WFLLPEPC7FZXENRZV188 064058AN0 3059000.00000000 PA USD 3142550.47000000 0.230071028703 Long DBT CORP US N 2 2030-03-20 Variable 6.30000000 N N N N N N State Street Corp. 549300ZFEEJ2IP5VME73 857477CH4 16931000.00000000 PA USD 17680908.02000000 1.294446894459 Long DBT CORP US N 2 2029-03-15 Variable 6.70000000 N N N N N N BP Capital Markets plc 549300CRVT18MXX0AG93 05565QDW5 5540000.00000000 PA USD 5663314.86000000 0.414620127234 Long DBT CORP GB N 2 2033-12-01 Variable 6.45000000 N N N N N N Huntington Bancshares, Inc. 549300XTVCVV9I7B5T19 446150AT1 6214000.00000000 PA USD 6312779.48000000 0.462168446555 Long DBT CORP US N 2 2030-07-15 Variable 5.62500000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 38144GAG6 2500000.00000000 PA USD 2447445.40000000 0.179181300745 Long DBT CORP US N 2 2026-08-10 Variable 3.65000000 N N N N N N Meiji Yasuda Life Insurance Co. 549300SLU4LP6YMRLK07 585270AE1 10000000.00000000 PA USD 9980620.00000000 0.730696780344 Long DBT CORP JP Y 2 2055-06-11 Variable 6.10000000 N N N N N N ING Groep NV 549300NYKK9MWM7GGW15 456837AR4 16690000.00000000 PA USD 16598250.06000000 1.215183814051 Long DBT CORP NL N 2 2026-11-16 Variable 5.75000000 N N N N Y N/A USD XXXX N N N Bank of Montreal NQQ6HPCNCCU6TUTQYE16 06368LQ58 4650000.00000000 PA USD 4801515.60000000 0.351526457243 Long DBT CORP CA N 2 2084-05-26 Variable 7.70000000 N N N N Y N/A USD XXXX N N N NatWest Group plc 2138005O9XJIJN4JPN90 639057AQ1 12725000.00000000 PA USD 13725872.15000000 1.004892540486 Long DBT CORP GB N 2 2033-11-10 Variable 8.12500000 N N N N Y N/A USD XXXX N N N Nordea Bank Abp 529900ODI3047E2LIV03 65559CAA9 8700000.00000000 PA USD 8750025.00000000 0.640602998154 Long DBT CORP FI Y 2 2026-03-26 Variable 6.62500000 N N N N Y N/A USD XXXX N N N Emera, Inc. NQZVQT2P5IUF2PGA1Q48 290876AD3 11696000.00000000 PA USD 11769372.52000000 0.861654146439 Long DBT CORP CA N 2 2076-06-15 Variable 6.75000000 N N N N N N Lincoln National Corp. EFQMQROEDSNBRIP7LE47 534187885 127076.00000000 NS USD 3381492.36000000 0.247564337707 Long EP CORP US N 1 N N N Air Lease Corp. 5493004NW4M4P8TMMK63 00912XBJ2 4089000.00000000 PA USD 4065429.37000000 0.297636434547 Long DBT CORP US N 2 2026-06-15 Variable 4.65000000 N N N N N N Enbridge, Inc. 98TPTUM4IVMFCZBCUR27 29250NBC8 15490000.00000000 PA USD 15446648.29000000 1.130873249619 Long DBT CORP CA N 2 2080-07-15 Variable 5.75000000 N N N N N N Bank of New York Mellon Corp. (The) WFLLPEPC7FZXENRZV188 064058AF7 4852000.00000000 PA USD 4819758.46000000 0.352862045520 Long DBT CORP US N 2 2026-09-20 Variable 4.62500000 N N N N N N HSBC Holdings plc MLU0ZO3ML4LN2LL2TL39 404280BP3 4000000.00000000 PA USD 4025508.00000000 0.294713728691 Long DBT CORP GB N 2 2028-03-23 Variable 6.50000000 N N N N Y N/A USD XXXX N N N Lloyds Banking Group plc 549300PPXHEU2JF0AM85 53944YAJ2 9530000.00000000 PA USD 9580518.53000000 0.701404726750 Long DBT CORP GB N 2 2026-06-27 Variable 6.75000000 N N N N Y N/A USD XXXX N N N Bank of Montreal NQQ6HPCNCCU6TUTQYE16 06368L5Q5 8355000.00000000 PA USD 8535246.09000000 0.624878698659 Long DBT CORP CA N 2 2084-11-26 Variable 7.30000000 N N N N Y N/A USD XXXX N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 060505FL3 6746000.00000000 PA USD 6861808.58000000 0.502363724572 Long DBT CORP US N 2 2028-03-15 Variable 5.87500000 N N N N N N Standard Chartered plc U4LOSYZ7YG4W3S5F2G91 853254CM0 8610000.00000000 PA USD 8915310.60000000 0.652703815113 Long DBT CORP GB Y 2 2027-08-15 Variable 7.75000000 N N N N Y N/A USD XXXX N N N Voya Financial, Inc. 549300T065Z4KJ686G75 929089AG5 6747000.00000000 PA USD 7123954.89000000 0.521555865411 Long DBT CORP US N 2 2028-09-15 Variable 7.75800000 N N N N N N UBS Group AG 549300SZJ9VS8SGXAN81 902613BE7 36075000.00000000 PA USD 41717526.83000000 3.054205303741 Long DBT CORP CH Y 2 2033-11-13 Variable 9.25000000 N N N N Y N/A USD XXXX N N N Credit Agricole SA 969500TJ5KRTCJQWXH05 225313AR6 16755000.00000000 PA USD 16393463.96000000 1.200191103786 Long DBT CORP FR Y 2 2034-09-23 Variable 6.70000000 N N N N Y N/A USD XXXX N N N Prudential Financial, Inc. 5PRBRS5FEH7NREC8OR45 744320BP6 9340000.00000000 PA USD 9594505.66000000 0.702428746386 Long DBT CORP US N 2 2054-03-15 Variable 6.50000000 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 00206R508 40000.00000000 NS USD 806000.00000000 0.059008519005 Long EP CORP US N 1 N N N PPL Capital Funding, Inc. 549300MROK5WY0D2NU17 69352PAC7 4320000.00000000 PA USD 4297608.36000000 0.314634621079 Long DBT CORP US N 2 2067-03-30 Floating 7.22221920 N N N N N N NextEra Energy Capital Holdings, Inc. UMI46YPGBLUE4VGNNT48 65339KDF4 2860000.00000000 PA USD 2923493.40000000 0.214033518432 Long DBT CORP US N 2 2055-08-15 Variable 6.50000000 N N N N N N Vodafone Group plc 213800TB53ELEUKM7Q61 92857WBW9 2750000.00000000 PA USD 2513267.08000000 0.184000208754 Long DBT CORP GB N 2 2081-06-04 Variable 4.12500000 N N N N N N Societe Generale SA O2RNE8IBXP4R0TD8PU41 83370RAE8 7550000.00000000 PA USD 7703929.40000000 0.564016705233 Long DBT CORP FR Y 2 2029-11-21 Variable 8.12500000 N N N N Y N/A USD XXXX N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 06055HAH6 28490000.00000000 PA USD 29505753.97000000 2.160162337362 Long DBT CORP US N 2 2030-05-01 Variable 6.62500080 N N N N N N Bank of New York Mellon Corp. (The) WFLLPEPC7FZXENRZV188 064058AJ9 2500000.00000000 PA USD 2476447.88000000 0.181304617609 Long DBT CORP US N 2 2026-03-20 Variable 3.70000000 N N N N N N Dominion Energy, Inc. ILUL7B6Z54MRYCF6H308 25746UDU0 2430000.00000000 PA USD 2607224.76000000 0.190878997273 Long DBT CORP US N 2 2054-06-01 Variable 7.00000000 N N N N N N US Bancorp N1GZ7BBF3NP8GI976H15 902973BC9 17865000.00000000 PA USD 17174971.52000000 1.257406493001 Long DBT CORP US N 2 2027-01-15 Variable 3.70000000 N N N N N N Sempra PBBKGKLRK5S5C0Y4T545 816851BS7 8590000.00000000 PA USD 8662493.33000000 0.634194667865 Long DBT CORP US N 2 2054-10-01 Variable 6.87500000 N N N N N N Enbridge, Inc. 98TPTUM4IVMFCZBCUR27 29250NBT1 17270000.00000000 PA USD 19227865.36000000 1.407702057733 Long DBT CORP CA N 2 2084-01-15 Variable 8.50000000 N N N N N N MetLife, Inc. C4BXATY60WC6XEOZDX54 59156RBS6 13675000.00000000 PA USD 16236012.98000000 1.188663871595 Long DBT CORP US Y 2 2038-04-08 Fixed 9.25000000 N N N N N N Citigroup, Inc. 6SHGI4ZSSLCXXQSBB395 172967PC9 5000000.00000000 PA USD 5260037.80000000 0.385095583736 Long DBT CORP US N 2 2028-05-15 Variable 7.37500000 N N N N N N Dominion Energy, Inc. ILUL7B6Z54MRYCF6H308 25746UDM8 4800000.00000000 PA USD 4713282.34000000 0.345066762454 Long DBT CORP US N 2 2027-01-15 Variable 4.35000000 N N N N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 949746TD3 30744000.00000000 PA USD 30428895.52000000 2.227746972223 Long DBT CORP US N 2 2026-03-15 Variable 3.90000000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 38141GA38 5050000.00000000 PA USD 5362514.20000000 0.392598041052 Long DBT CORP US N 2 2029-02-10 Variable 7.50000000 N N N N N N Royal Bank of Canada ES7IP3U3RHIGC71XBU11 780082AR4 3510000.00000000 PA USD 3627013.99000000 0.265539359755 Long DBT CORP CA N 2 2084-05-02 Variable 7.50000000 N N N N Y N/A USD XXXX N N N Fifth Third Bancorp THRNG6BD57P9QWTQLG42 316773DB3 668000.00000000 PA USD 665337.02000000 0.048710362518 Long DBT CORP US N 2 2025-09-30 Variable 4.50000000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 38141GA79 22500000.00000000 PA USD 23690857.50000000 1.734444683682 Long DBT CORP US N 2 2029-05-10 Variable 7.50000000 N N N N N N NatWest Group plc 2138005O9XJIJN4JPN90 780097BQ3 7986000.00000000 PA USD 7972881.40000000 0.583707101267 Long DBT CORP GB N 2 2025-12-29 Variable 6.00000000 N N N N Y N/A USD XXXX N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 95002YAC7 10290000.00000000 PA USD 10812834.80000000 0.791624525806 Long DBT CORP US N 2 2029-09-15 Variable 6.85000000 N N N N N N Capital One Financial Corp. ZUE8T73ROZOF6FLBAR73 14040HCF0 10812000.00000000 PA USD 10549232.29000000 0.772325774291 Long DBT CORP US N 2 2026-09-01 Variable 3.95000000 N N N N N N Toronto-Dominion Bank (The) PT3QB789TSUIDF371261 89117F8Z5 15305000.00000000 PA USD 15984649.14000000 1.170261132228 Long DBT CORP CA N 2 2082-10-31 Variable 8.12500000 N N N N Y N/A USD XXXX N N N Rogers Communications, Inc. 5493000M6Z4XFIP6PF03 775109BS9 9560000.00000000 PA USD 9477359.25000000 0.693852274722 Long DBT CORP CA Y 2 2082-03-15 Variable 5.25000000 N N N N N N AerCap Ireland Capital DAC N/A 00774MBK0 2390000.00000000 PA USD 2483662.71000000 0.181832826583 Long DBT CORP IE N 2 2055-03-10 Variable 6.95000000 N N N N N N MetLife, Inc. C4BXATY60WC6XEOZDX54 59156R850 89600.00000000 NS USD 1746304.00000000 0.127849643639 Long EP CORP US N 1 N N N PNC Financial Services Group, Inc. (The) CFGNEKW0P8842LEUIA51 693475BC8 32428000.00000000 PA USD 31317177.56000000 2.292779487905 Long DBT CORP US N 2 2026-09-15 Variable 3.40000000 N N N N N N Standard Chartered plc U4LOSYZ7YG4W3S5F2G91 853254BX7 7000000.00000000 PA USD 6306837.60000000 0.461733432239 Long DBT CORP GB Y 2 2031-01-14 Variable 4.75000000 N N N N Y N/A USD XXXX N N N Bank of Nova Scotia (The) L3I9ZG2KFGXZ61BMYR72 0641598S8 12200000.00000000 PA USD 12946871.80000000 0.947860708031 Long DBT CORP CA N 2 2082-10-27 Variable 8.62500000 N N N N Y N/A USD XXXX N N N NiSource, Inc. 549300D8GOWWH0SJB189 65473PAT2 5060000.00000000 PA USD 5088599.12000000 0.372544290179 Long DBT CORP US N 2 2055-03-31 Variable 6.37500000 N N N N N N Standard Chartered plc U4LOSYZ7YG4W3S5F2G91 853254DA5 5500000.00000000 PA USD 5723245.00000000 0.419007706397 Long DBT CORP GB Y 2 2030-03-08 Variable 7.87500000 N N N N Y N/A USD XXXX N N N Allianz SE 529900K9B0N5BT694847 018820AA8 6200000.00000000 PA USD 6095572.78000000 0.446266404762 Long DBT CORP DE Y 2 2025-11-17 Variable 3.50000000 N N N N Y N/A USD XXXX N N N NextEra Energy Capital Holdings, Inc. UMI46YPGBLUE4VGNNT48 65339KCW8 4000000.00000000 PA USD 4121832.00000000 0.301765759193 Long DBT CORP US N 2 2054-09-01 Variable 6.70000000 N N N N N N Sumitomo Mitsui Financial Group, Inc. 35380028MYWPB6AUO129 86562MDK3 9496000.00000000 PA USD 9517366.00000000 0.696781231382 Long DBT CORP JP N 2 2034-06-05 Variable 6.60000000 N N N N Y N/A USD XXXX N N N Charles Schwab Corp. (The) 549300VSGCJ7E698NM85 808513BJ3 21467000.00000000 PA USD 19914059.40000000 1.457939395265 Long DBT CORP US N 2 2030-12-01 Variable 4.00000000 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 00206R706 260615.00000000 NS USD 4977746.50000000 0.364428596712 Long EP CORP US N 1 N N N State Street Corp. 549300ZFEEJ2IP5VME73 857477CM3 8000000.00000000 PA USD 8366136.00000000 0.612497884813 Long DBT CORP US N 2 2029-09-15 Variable 6.70000000 N N N N N N Charles Schwab Corp. (The) 549300VSGCJ7E698NM85 808513BK0 9704000.00000000 PA USD 9558265.33000000 0.699775535218 Long DBT CORP US N 2 2026-06-01 Variable 4.00000000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61762V853 606076.00000000 NS USD 15594335.48000000 1.141685659493 Long EP CORP US N 1 N N N NextEra Energy Capital Holdings, Inc. UMI46YPGBLUE4VGNNT48 65339KDE7 3265000.00000000 PA USD 3334073.46000000 0.244092725968 Long DBT CORP US N 2 2055-08-15 Variable 6.37500000 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 00206R300 50000.00000000 NS USD 1110000.00000000 0.081264833866 Long EP CORP US N 1 N N N MetLife Capital Trust IV N/A 591560AA5 4049000.00000000 PA USD 4438708.15000000 0.324964757108 Long DBT CORP US Y 2 2037-12-15 Fixed 8.25235000 N N N N N N Societe Generale SA O2RNE8IBXP4R0TD8PU41 83371GAA9 7770000.00000000 PA USD 8479742.88000000 0.620815221956 Long DBT CORP FR Y 2 2028-11-14 Variable 10.00000000 N N N N Y N/A USD XXXX N N N Barclays plc 213800LBQA1Y9L22JB70 06738EBX2 7084000.00000000 PA USD 7430598.87000000 0.544005750178 Long DBT CORP GB N 2 2029-03-15 Variable 8.00000000 N N N N Y N/A USD XXXX N N N Dominion Energy, Inc. ILUL7B6Z54MRYCF6H308 25746UDT3 8230000.00000000 PA USD 8657829.39000000 0.633853213532 Long DBT CORP US N 2 2055-02-01 Variable 6.87500000 N N N N N N Citigroup, Inc. 6SHGI4ZSSLCXXQSBB395 172967PR6 3950000.00000000 PA USD 3979087.80000000 0.291315233339 Long DBT CORP US N 2 2030-02-15 Variable 6.75000000 N N N N N N Transcanada Trust 549300Y0MFCAXLBWUV51 89356BAE8 6854000.00000000 PA USD 6786401.47000000 0.496843052260 Long DBT CORP CA N 2 2079-09-15 Variable 5.50000000 N N N N N N CMS Energy Corp. 549300IA9XFBAGNIBW29 125896BY5 2500000.00000000 PA USD 2505982.50000000 0.183466893274 Long DBT CORP US N 2 2055-06-01 Variable 6.50000000 N N N N N N Societe Generale SA O2RNE8IBXP4R0TD8PU41 83370RAC2 12215000.00000000 PA USD 12962790.09000000 0.949026110907 Long DBT CORP FR Y 2 2027-11-22 Variable 9.37500000 N N N N Y N/A USD XXXX N N N Banco Bilbao Vizcaya Argentaria SA K8MS7FD7N5Z2WQ51AZ71 05946KAM3 19650000.00000000 PA USD 21685622.10000000 1.587638267787 Long DBT CORP ES N 2 2029-03-19 Variable 9.37500000 N N N N Y N/A USD XXXX N N N Regions Financial Corp. CW05CS5KW59QTC0DG824 7591EP860 101000.00000000 NS USD 2509850.00000000 0.183750038990 Long EP CORP US N 1 N N N Fifth Third Bancorp THRNG6BD57P9QWTQLG42 316773CR9 2925000.00000000 PA USD 2922817.07000000 0.213984003256 Long DBT CORP US N 2 2025-08-07 Floating 7.68621960 N N N N N N BP Capital Markets plc 549300CRVT18MXX0AG93 05565QDV7 1725000.00000000 PA USD 1707123.89000000 0.124981206585 Long DBT CORP GB N 2 2030-03-22 Variable 4.87500000 N N N N N N CMS Energy Corp. 549300IA9XFBAGNIBW29 125896BU3 4320000.00000000 PA USD 4198219.72000000 0.307358223495 Long DBT CORP US N 2 2050-06-01 Variable 4.75000000 N N N N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 94988U151 450000.00000000 NS USD 8568000.00000000 0.627276663573 Long EP CORP US N 1 N N N Bank of New York Mellon Corp. (The) WFLLPEPC7FZXENRZV188 064058845 330000.00000000 NS USD 8461200.00000000 0.619457668747 Long EP CORP US N 1 N N N Citigroup, Inc. 6SHGI4ZSSLCXXQSBB395 172967PE5 11000000.00000000 PA USD 11576312.00000000 0.847519884202 Long DBT CORP US N 2 2028-11-15 Variable 7.62500000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61762V606 52962.00000000 NS USD 1239310.80000000 0.090731879523 Long EP CORP US N 1 N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 38141GC28 13290000.00000000 PA USD 13715123.98000000 1.004105650171 Long DBT CORP US N 2 2030-02-10 Variable 6.85000000 N N N N N N Prudential Financial, Inc. 5PRBRS5FEH7NREC8OR45 744320BL5 5120000.00000000 PA USD 5363491.84000000 0.392669615604 Long DBT CORP US N 2 2053-03-01 Variable 6.75000000 N N N N N N SCE Trust VII N/A 783892201 230000.00000000 NS USD 5110600.00000000 0.374155008970 Long EP CORP US N 1 N N N Entergy Corp. 4XM3TW50JULSLG8BNC79 29364GAQ6 5550000.00000000 PA USD 5742343.35000000 0.420405926433 Long DBT CORP US N 2 2054-12-01 Variable 7.12500000 N N N N N N HSBC Holdings plc MLU0ZO3ML4LN2LL2TL39 404280FA2 6800000.00000000 PA USD 6878580.80000000 0.503591644998 Long DBT CORP GB N 2 2030-06-05 Variable 7.05000000 N N N N Y N/A USD XXXX N N N Electricite de France SA 549300X3UK4GG3FNMO06 28504KAA5 7630000.00000000 PA USD 8606067.75000000 0.630063663014 Long DBT NUSS FR Y 2 2033-03-15 Variable 9.12500000 N N N N N N Prudential Financial, Inc. 5PRBRS5FEH7NREC8OR45 744320BK7 3793000.00000000 PA USD 3825168.43000000 0.280046555832 Long DBT CORP US N 2 2052-09-01 Variable 6.00000000 N N N N N N Nevada Power Co. MJZFGXRJ52U8U4MKJ519 641423CH9 4165000.00000000 PA USD 4144812.66000000 0.303448209208 Long DBT CORP US N 2 2055-05-15 Variable 6.25000000 N N N N N N Banco Santander SA 5493006QMFDDMYWIAM13 05971KAQ2 27400000.00000000 PA USD 31954482.80000000 2.339437600022 Long DBT CORP ES N 2 2033-05-21 Variable 9.62500000 N N N N Y N/A USD XXXX N N N NextEra Energy Capital Holdings, Inc. UMI46YPGBLUE4VGNNT48 65339K837 654442.00000000 NS USD 16354505.58000000 1.197338899931 Long EP CORP US N 1 N N N HSBC Holdings plc MLU0ZO3ML4LN2LL2TL39 404280DT3 12721000.00000000 PA USD 13309740.60000000 0.974426899695 Long DBT CORP GB N 2 2028-03-07 Variable 8.00000000 N N N N Y N/A USD XXXX N N N CMS Energy Corp. 549300IA9XFBAGNIBW29 125896BV1 7118000.00000000 PA USD 6398139.58000000 0.468417792812 Long DBT CORP US N 2 2050-12-01 Variable 3.75000000 N N N N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 95002YAA1 3865000.00000000 PA USD 4151191.66000000 0.303915225763 Long DBT CORP US N 2 2028-09-15 Variable 7.62500000 N N N N N N JPMorgan Prime Money Market Fund 549300YD7H8SEEU7VG41 46637K844 58953870.47400000 NS USD 58965661.25000000 4.316968166934 Long STIV RF US N 1 N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 060505GB4 13709000.00000000 PA USD 13451647.80000000 0.984816147472 Long DBT CORP US N 2 2027-01-27 Variable 4.37500000 N N N N N N Enbridge, Inc. 98TPTUM4IVMFCZBCUR27 29250NBP9 2530000.00000000 PA USD 2667915.36000000 0.195322250900 Long DBT CORP CA N 2 2083-01-15 Variable 7.62500000 N N N N N N Nordea Bank Abp 529900ODI3047E2LIV03 65558RAK5 2580000.00000000 PA USD 2513023.46000000 0.183982372954 Long DBT CORP FI Y 2 2031-09-25 Variable 6.30000000 N N N N Y N/A USD XXXX N N N American Express Co. R4PP93JZOLY261QX3811 025816CH0 13606000.00000000 PA USD 13288244.12000000 0.972853108816 Long DBT CORP US N 2 2026-09-15 Variable 3.55000000 N N N N N N PG&E Corp. 8YQ2GSDWYZXO2EDN3511 69331CAM0 5500000.00000000 PA USD 5208610.83000000 0.381330534931 Long DBT CORP US N 2 2055-03-15 Variable 7.37500000 N N N N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 29273VAM2 13106000.00000000 PA USD 13350610.38000000 0.977419040130 Long DBT CORP US N 2 2030-05-15 Variable 7.12500000 N N N N N N Air Lease Corp. 5493004NW4M4P8TMMK63 00912XBQ6 2750000.00000000 PA USD 2689140.25000000 0.196876158251 Long DBT CORP US N 2 2029-09-24 Variable 6.00000000 N N N N N N Barclays plc 213800LBQA1Y9L22JB70 06738ECN3 9340000.00000000 PA USD 10374012.72000000 0.759497675871 Long DBT CORP GB N 2 2029-12-15 Variable 9.62500000 N N N N Y N/A USD XXXX N N N HSBC Holdings plc MLU0ZO3ML4LN2LL2TL39 404280CN7 13297000.00000000 PA USD 12114262.43000000 0.886904075483 Long DBT CORP GB N 2 2030-12-17 Variable 4.60000000 N N N N Y N/A USD XXXX N N N Southern Co. (The) 549300FC3G3YU2FBZD92 842587EB9 2714000.00000000 PA USD 2792632.72000000 0.204453003639 Long DBT CORP US N 2 2055-03-15 Variable 6.37500000 N N N N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 05565AS20 14145000.00000000 PA USD 15155391.50000000 1.109549885068 Long DBT CORP FR Y 2 2027-11-17 Variable 9.25000000 N N N N Y N/A USD XXXX N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 05565AM34 23888000.00000000 PA USD 25124801.20000000 1.839425941839 Long DBT CORP FR Y 2 2029-08-16 Variable 7.75000000 N N N N Y N/A USD XXXX N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 29273VAN0 2500000.00000000 PA USD 2511169.83000000 0.183846665806 Long DBT CORP US N 2 2026-11-15 Variable 6.50000000 N N N N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 06055HAB9 4879000.00000000 PA USD 4957850.10000000 0.362971950189 Long DBT CORP US N 2 2027-04-27 Variable 6.12500000 N N N N N N Svenska Handelsbanken AB NHBDILHZTYCNBV5UYZ31 N/A 6200000.00000000 PA USD 5694154.40000000 0.416877938130 Long DBT CORP SE Y 2 2031-03-01 Variable 4.75000000 N N N N Y N/A USD XXXX N N N CMS Energy Corp. 549300IA9XFBAGNIBW29 125896845 161074.00000000 NS USD 3575842.80000000 0.261793037003 Long EP CORP US N 1 N N N NextEra Energy Capital Holdings, Inc. UMI46YPGBLUE4VGNNT48 65339KDB3 4820000.00000000 PA USD 5000605.40000000 0.366102132488 Long DBT CORP US N 2 2054-06-15 Variable 6.75000000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 38141GB52 8310000.00000000 PA USD 8320927.65000000 0.609188110892 Long DBT CORP US N 2 2034-11-10 Variable 6.12500000 N N N N N N Invesco Preferred ETF 549300J11Q08WEERN210 46138E511 3996400.00000000 NS USD 44479932.00000000 3.256445301228 Long RF US N 1 N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61761J406 552.00000000 NS USD 13689.60000000 0.001002236999 Long EP CORP US N 1 N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 06055H202 50000.00000000 NS USD 1015500.00000000 0.074346341253 Long EP CORP US N 1 N N N Allstate Corp. (The) OBT0W1ED8G0NWVOLOJ77 020002788 134000.00000000 NS USD 3496060.00000000 0.255952013591 Long EP CORP US N 1 N N N Southern Co. (The) 549300FC3G3YU2FBZD92 842587DF1 5103000.00000000 PA USD 5073511.19000000 0.371439679255 Long DBT CORP US N 2 2051-01-15 Variable 4.00000000 N N N N N N Citigroup, Inc. 6SHGI4ZSSLCXXQSBB395 17327CAV5 7268000.00000000 PA USD 7422947.36000000 0.543445571178 Long DBT CORP US N 2 2030-02-15 Variable 6.95000000 N N N N N N Ally Financial, Inc. 549300JBN1OSM8YNAI90 02005NBN9 10610000.00000000 PA USD 9515557.28000000 0.696648812166 Long DBT CORP US N 2 2028-05-15 Variable 4.70000000 N N N N N N Sempra PBBKGKLRK5S5C0Y4T545 816851BM0 2350000.00000000 PA USD 2259639.89000000 0.165431765998 Long DBT CORP US N 2 2052-04-01 Variable 4.12500000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61762V838 883245.00000000 NS USD 22831883.25000000 1.671557837086 Long EP CORP US N 1 N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61762V861 200142.00000000 NS USD 3446445.24000000 0.252319639511 Long EP CORP US N 1 N N N Duke Energy Corp. I1BZKREC126H0VB1BL91 26441CCG8 10440000.00000000 PA USD 10730362.19000000 0.785586577203 Long DBT CORP US N 2 2054-09-01 Variable 6.45000000 N N N N N N ING Groep NV 549300NYKK9MWM7GGW15 N/A 8250000.00000000 PA USD 8766202.50000000 0.641787378198 Long DBT CORP NL Y 2 2030-05-16 Variable 8.00000000 N N N N Y N/A USD XXXX N N N Citigroup, Inc. 6SHGI4ZSSLCXXQSBB395 172967PM7 25847000.00000000 PA USD 27169487.60000000 1.989120627068 Long DBT CORP US N 2 2034-08-15 Variable 7.00000000 N N N N N N Corebridge Financial, Inc. 549300XY1661QCIA7J65 21871XAP4 11215000.00000000 PA USD 11569297.66000000 0.847006353414 Long DBT CORP US N 2 2052-12-15 Variable 6.87500000 N N N N N N SCE Trust VIII N/A 80620A208 450000.00000000 NS USD 9639000.00000000 0.705686246520 Long EP CORP US N 1 N N N 2025-07-30 JPMorgan Trust IV Timothy J. Clemens Timothy J. Clemens Treasurer and Principal Financial Officer