Six Circles Trust NPORT-P Six Circles Credit Opportunities Fund (Mar 2024 report)

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 22.5%
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027		1,200		1,175
Americredit Automobile Receivables Trust, Series 2023-1, Class A2B, (United States 30 Day Average SOFR + 0.73%), 6.05%, 10/19/2026 (aa)		760		762
Anchorage Capital CLO Ltd., (Cayman Islands),
Series 2014-3RA, Class A, (CME Term SOFR 3 Month + 1.31%), 6.63%, 01/28/2031 (e) (aa)		874		876
Series 2015-7A, Class AR2, (CME Term SOFR 3 Month + 1.35%), 6.67%, 01/28/2031 (e) (aa)		1,319		1,318
AutoFlorence Srl, (Italy),
Series 2, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.55%, 12/24/2044 (aa)	EUR	399		431
Series 2, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 4.60%, 12/24/2044 (aa)	EUR	83		89
Series 3, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.95%), 4.80%, 12/25/2046 (aa)	EUR	1,000		1,084
Series 3, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 2.35%), 6.20%, 12/25/2046 (aa)	EUR	100		109
Autonoria Spain 2022 FT, (Spain),
Series 2022-SP, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.84%), 4.69%, 01/25/2040 (aa)	EUR	594		644
Series 2022-SP, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 2.00%), 5.85%, 01/26/2040 (aa)	EUR	74		81
Autonoria Spain 2023 FT, (Spain),
Series 2023-SP, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.55%, 09/30/2041 (aa)	EUR	700		757
Series 2023-SP, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.15%), 5.00%, 09/30/2041 (aa)	EUR	100		108
Avis Budget Rental Car Funding AESOP LLC, Series 2024-1A, Class A, 5.36%, 06/20/2030 (e)		1,500		1,508
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	264		334
BA Credit Card Trust,
Series 2021-A1, Class A1, 0.44%, 09/15/2026		2,180		2,175
Series 2022-A2, Class A2, 5.00%, 04/15/2028		1,485		1,482
Bank of America Auto Trust,
Series 2023-1A, Class A2, 5.83%, 05/15/2026 (e)		789		790
Series 2023-2A, Class A2, 5.85%, 08/17/2026 (e)		1,600		1,603
Barings CLO Ltd. 2019-III, (Cayman Islands), Series 2019-3A, Class A1R, (CME Term SOFR 3 Month + 1.33%), 6.65%, 04/20/2031 (e) (aa)		250		250
Battalion CLO 18 Ltd., (Cayman Islands), Series 2020-18A, Class AR, (CME Term SOFR 3 Month + 1.46%), 6.78%, 10/15/2036 (e) (aa)		1,000		999
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		1,535
Bavarian Sky SA, (Luxembourg), Series GE13, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.43%), 4.29%, 03/20/2032 (aa)	EUR	500		540
Benefit Street Partners CLO Ltd., (Cayman Islands), Series 2015-6BR, Class A, (CME Term SOFR 3 Month + 1.45%), 6.77%, 07/20/2034 (e) (aa)		1,000		997

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 VIII Ltd., (Cayman Islands), Series 2015-8A, Class A1AR, (CME Term SOFR 3 Month + 1.36%), 6.68%, 01/20/2031 (e) (aa)		779		779
BHG Securitization Trust, Series 2022-B, Class A, 3.75%, 06/18/2035 (e)		9		9
Birch Grove CLO Ltd., (Cayman Islands), Series 19A, Class AR, (CME Term SOFR 3 Month + 1.39%), 6.72%, 06/15/2031 (e) (aa)		1,412		1,415
BMW Canada Auto Trust, (Canada), Series 2023-1A, Class A1, 5.43%, 01/20/2026 (e)	CAD	434		320
BMW Vehicle Lease Trust, Series 2023-1, Class A2, 5.27%, 02/25/2025		112		112
BMW Vehicle Owner Trust, Series 2023-A, Class A2B, (United States 30 Day Average SOFR + 0.43%), 5.75%, 04/27/2026 (aa)		2,927		2,929
Bumper De SA, (Luxembourg), Series 2023-DE1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.58%), 4.43%, 08/23/2032 (aa)	EUR	577		624
Capital One Multi-Asset Execution Trust,
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.69%), 6.02%, 07/15/2027 (aa)		900		902
Series 2021-A3, Class A3, 1.04%, 11/15/2026		1,300		1,264
Series 2022-A1, Class A1, 2.80%, 03/15/2027		1,700		1,659
Series 2022-A2, Class A, 3.49%, 05/15/2027		500		490
CARDS II Trust, (Canada), Series 2023-2A, Class A, (United States SOFR + 0.85%), 6.18%, 07/15/2028 (e) (aa)		1,100		1,103
CarMax Auto Owner Trust,
Series 2021-2, Class A3, 0.52%, 02/17/2026		299		294
Series 2022-4, Class A2A, 5.34%, 12/15/2025		182		182
Series 2022-4, Class A2B, (United States 30 Day Average SOFR + 0.90%), 6.22%, 12/15/2025 (aa)		261		261
Series 2023-4, Class A2A, 6.08%, 12/15/2026		1,300		1,306
Series 2024-1, Class A2A, 5.30%, 03/15/2027		1,000		999
Series 2024-1, Class A3, 4.92%, 10/16/2028		474		473
Cars Alliance Auto Leases France, (France),
Series 2023-1FRV, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.65%), 4.51%, 10/21/2038 (aa)	EUR	900		973
Series 2023-1FRV, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.30%), 5.16%, 10/21/2038 (aa)	EUR	400		435
Carvana Auto Receivables Trust,
Series 2023-P4, Class A2, 6.23%, 01/11/2027 (e)		499		501
Series 2023-P5, Class A2, 5.77%, 04/12/2027 (e)		1,000		1,000
Chesapeake Funding II LLC, Series 2020-1A, Class A2, (United States 30 Day Average SOFR + 0.76%), 6.08%, 08/15/2032 (e) (aa)		22		22
CIFC Funding Ltd., (Cayman Islands), Series 2014-5A, Class A1R2, (CME Term SOFR 3 Month + 1.46%), 6.78%, 10/17/2031 (e) (aa)		1,000		1,001
Citibank Credit Card Issuance Trust,
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.73%), 6.06%, 04/22/2026 (aa)		900		900
Series 2018-A5, Class A5, (CME Term SOFR 1 Month + 0.72%), 6.05%, 08/07/2027 (aa)		900		903
Series 2023-A1, Class A1, 5.23%, 12/08/2027		1,600		1,601
Citizen Irish Auto Receivables Trust, (Ireland),
Series 2023-1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.77%), 4.65%, 12/15/2032 (aa)	EUR	569		615
Series 2023-1, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.40%), 5.28%, 12/15/2032 (aa)	EUR	121		132
CNH Equipment Trust,
Series 2023-B, Class A2, 5.90%, 02/16/2027		600		601
Series 2024-A, Class A3, 4.77%, 06/15/2029		479		477

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Compartment BL Consumer Credit, (Luxembourg),
Series 2024-1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.63%), 0.00%, 09/25/2041 (aa)	EUR	642		693
Series 2024-1, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.90%), 0.00%, 09/25/2041 (aa)	EUR	292		315
Daimler Trucks Retail Trust, Series 2023-1, Class A2, 6.03%, 09/15/2025		465		466
Dell Equipment Finance Trust, Series 2023-2, Class A2, 5.84%, 01/22/2029 (e)		479		480
Discover Card Execution Note Trust, Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.71%), 6.04%, 12/15/2026 (aa)		900		901
Dowson plc, (United Kingdom),
Series 2022-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.92%), 6.12%, 01/20/2029 (aa)	GBP	33		41
Series 2022-2, Class B, Reg. S, (SONIA Interest Rate Benchmark + 2.70%), 7.90%, 08/20/2029 (aa)	GBP	500		636
Dryden 49 Senior Loan Fund, (Cayman Islands), Series 2017-49A, Class AR, (CME Term SOFR 3 Month + 1.21%), 6.51%, 07/18/2030 (e) (aa)		1,309		1,310
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e)		681		589
Enterprise Fleet Financing LLC, Series 2023-1, Class A2, 5.51%, 01/22/2029 (e)		687		687
FCT Autonoria, (France),
Series 2023-DE, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.47%), 4.32%, 01/26/2043 (aa)	EUR	969		1,046
Series 2023-DE, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.15%), 5.00%, 01/26/2043 (aa)	EUR	242		262
Ford Auto Securitization Trust, (Canada), Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e)	CAD	203		149
Ford Credit Auto Lease Trust, Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.59%), 5.91%, 02/15/2026 (aa)		1,000		1,001
Ford Credit Auto Owner Trust,
Series 2022-D, Class A3, 5.27%, 05/17/2027		110		110
Series 2023-A, Class A2B, (United States 30 Day Average SOFR + 0.72%), 6.04%, 03/15/2026 (aa)		1,149		1,150
Series 2024-1, Class A, 4.87%, 08/15/2036 (e)		789		788
Ford Credit Floorplan Master Owner Trust A, Series 2023-1, Class A2, (United States 30 Day Average SOFR + 1.25%), 6.57%, 05/15/2028 (e) (aa)		1,290		1,309
Gilbert Park CLO Ltd., (Cayman Islands), Series 2017-1A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.77%, 10/15/2030 (e) (aa)		1,107		1,109
GM Financial Automobile Leasing Trust,
Series 2023-1, Class A2A, 5.27%, 06/20/2025		349		349
Series 2023-2, Class A2A, 5.44%, 10/20/2025		637		636
GM Financial Consumer Automobile Receivables Trust,
Series 2022-3, Class A2A, 3.50%, 09/16/2025		553		551
Series 2022-3, Class A2B, (United States 30 Day Average SOFR + 0.60%), 5.92%, 09/16/2025 (aa)		221		221
Series 2023-2, Class A2A, 5.10%, 05/18/2026		562		560
Series 2023-2, Class A2B, (United States 30 Day Average SOFR + 0.75%), 6.07%, 05/18/2026 (aa)		624		625
Series 2023-2, Class A3, 4.47%, 02/16/2028		429		424
Series 2023-3, Class A2B, (United States 30 Day Average SOFR + 0.47%), 5.79%, 09/16/2026 (aa)		2,442		2,444
Series 2023-4, Class A2A, 5.89%, 11/16/2026		900		902
Series 2024-1, Class A3, 4.85%, 12/18/2028		940		938
GMF Canada Leasing Trust, (Canada), Series 2023-1A, Class A1, 5.46%, 04/21/2025 (e)	CAD	401		296
GMF Floorplan Owner Revolving Trust, Series 2019-2, Class A, 2.90%, 04/15/2026 (e)		1,700		1,698

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Golden Bar Securitisation Srl, (Italy), Series 2023-2, Class B, Reg. S, (ICE LIBOR EUR 3 Month + 2.90%), 6.82%, 09/22/2043 (aa)	EUR	328		359
Hertz Vehicle Financing III LLC, Series 2023-1A, Class A, 5.49%, 06/25/2027 (e)		1,700		1,702
Hill FL 2024-1BV, (Netherlands), Series 2024-1FL, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.10%), 4.94%, 02/18/2032 (aa)	EUR	200		216
Honda Auto Receivables Owner Trust,
Series 2022-2, Class A2, 3.81%, 03/18/2025		313		312
Series 2024-1, Class A2, 5.36%, 09/15/2026		2,091		2,091
Hyundai Auto Lease Securitization Trust, Series 2023-A, Class A2A, 5.20%, 04/15/2025 (e)		370		370
Hyundai Auto Receivables Trust,
Series 2022-B, Class A2A, 3.64%, 05/15/2025		59		59
Series 2023-A, Class A2A, 5.19%, 12/15/2025		468		467
Series 2023-A, Class A3, 4.58%, 04/15/2027		500		496
Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.48%), 5.80%, 05/15/2026 (aa)		1,743		1,745
Series 2024-A, Class A3, 4.99%, 02/15/2029		3,197		3,198
John Deere Owner Trust, Series 2022-B, Class A2, 3.73%, 06/16/2025		70		70
Koromo Italy Srl, (Italy), Series 1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.80%), 4.65%, 02/26/2035 (aa)	EUR	372		401
Lt Autorahoitus IV DAC, (Ireland), Series 4, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.69%), 4.53%, 07/18/2033 (aa)	EUR	451		487
LT Autorahoitus V DAC, (Ireland), Series 5, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.90%), 4.78%, 05/18/2035 (aa)	EUR	400		432
M&T Equipment Notes, Series 2023-1A, Class A2, 6.09%, 07/15/2030 (e)		677		677
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		250
Master Credit Card Trust II, (Canada), Series 2023-1A, Class A, 4.70%, 06/21/2027 (e)		600		595
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e)		1,500		1,490
MBarc Credit Canada, Inc., (Canada), Series 2024-AA, Class A2, 5.30%, 10/15/2026 (e)	CAD	500		380
Mercedes-Benz Auto Receivables Trust, Series 2023-2, Class A2, 5.92%, 11/16/2026		1,200		1,203
Navient Private Education Loan Trust,
Series 2018-BX, Class A2B, Reg. S, (CME Term SOFR 1 Month + 0.83%), 6.16%, 12/15/2059 (aa)		340		338
Series 2020-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.34%, 11/15/2068 (e) (aa)		1,373		1,365
Navient Private Education Refi Loan Trust,
Series 2019-D, Class A2B, (CME Term SOFR 1 Month + 1.16%), 6.49%, 12/15/2059 (e) (aa)		260		260
Series 2019-GA, Class A, 2.40%, 10/15/2068 (e)		130		122
Series 2021-DA, Class A, (Prime Rate -1.99%), 6.51%, 04/15/2060 (e) (aa)		311		299
Navient Student Loan Trust, Series 2019-BA, Class A2B, (CME Term SOFR 1 Month + 1.09%), 6.42%, 12/15/2059 (e) (aa)		182		181
Nelnet Student Loan Trust,
Series 2019-2A, Class A, (United States 30 Day Average SOFR + 1.01%), 6.33%, 06/27/2067 (e) (aa)		614		611
Series 2021-CA, Class AFL, (CME Term SOFR 1 Month + 0.85%), 6.18%, 04/20/2062 (e) (aa)		779		773
Neuberger Berman Loan Advisers CLO 26 Ltd., (Cayman Islands), Series 2017-26A, Class AR, (CME Term SOFR 3 Month + 1.18%), 6.48%, 10/18/2030 (e) (aa)		1,786		1,787
NewDay Funding, (United Kingdom), Series 2024-1X, Class A, Reg. S, (SONIA Interest Rate Benchmark + 1.18%), 0.00%, 03/15/2032 (w) (aa)	GBP	534		675

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
OneMain Direct Auto Receivables Trust, Series 2022-1A, Class A2, (United States 30 Day Average SOFR + 1.60%), 6.92%, 03/14/2029 (e) (aa)		835		840
OneMain Financial Issuance Trust, Series 2023-2A, Class A2, (United States 30 Day Average SOFR + 1.50%), 6.82%, 09/15/2036 (e) (aa)		1,652		1,678
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e)		27		27
Palmer Square CLO 2013-2 Ltd., (Cayman Islands), Series 2013-2A, Class A1A3, (CME Term SOFR 3 Month + 1.26%), 6.58%, 10/17/2031 (e) (aa)		224		224
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (CME Term SOFR 1 Month + 0.91%), 6.24%, 07/25/2035 (aa)		299		295
Pawnee Equipment Receivables LLC, Series 2021-1, Class A2, 1.10%, 07/15/2027 (e)		216		213
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		915
PRET LLC,
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e)		567		547
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e)		256		250
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e)		193		188
Prodigy Finance DAC, (Ireland), Series 2021-1A, Class A, (CME Term SOFR 1 Month + 1.36%), 6.69%, 07/25/2051 (e) (aa)		56		56
Red & Black Auto Germany UG, (Germany),
Series 8, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 0.75%), 4.61%, 09/15/2030 (aa)	EUR	117		127
Series 10, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.20%), 5.06%, 09/15/2032 (aa)	EUR	100		108
Red & Black Auto Italy Srl, (Italy),
Series 1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.70%), 4.53%, 12/28/2031 (aa)	EUR	494		533
Series 2, Class A1, Reg. S, (ICE LIBOR EUR 1 Month + 1.00%), 4.83%, 07/28/2034 (aa)	EUR	724		785
Series 2, Class B, Reg. S, (ICE LIBOR EUR 1 Month + 1.80%), 5.63%, 07/28/2034 (aa)	EUR	112		121
RevoCar UG, (Germany), Series 2024-1, Class A, Reg. S, (ICE LIBOR EUR 1 Month + 0.56%), 0.00%, 02/21/2037 (w) (aa)	EUR	600		648
Rockford Tower CLO 2017-3 Ltd., (Cayman Islands), Series 2017-3A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.77%, 10/20/2030 (e) (aa)		189		189
RR 3 Ltd., (Cayman Islands), Series 2018-3A, Class A1R2, (CME Term SOFR 3 Month + 1.35%), 6.67%, 01/15/2030 (e) (aa)		730		730
Santander Drive Auto Receivables Trust, Series 2023-4, Class A2, 6.18%, 02/16/2027		2,732		2,737
SC Germany SA Compartment Consumer, (Luxembourg), Series 2020-1, Class C, Reg. S, (ICE LIBOR EUR 1 Month + 1.75%), 5.60%, 11/14/2034 (aa)	EUR	151		163
SLM Student Loan Trust, Series 2004-10, Class A7B, (United States 90 Day Average SOFR + 0.86%), 6.22%, 10/25/2029 (e) (aa)		295		295
SMB Private Education Loan Trust,
Series 2016-B, Class A2B, (CME Term SOFR 1 Month + 1.56%), 6.89%, 02/17/2032 (e) (aa)		189		189
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e)		126		124
Series 2017-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.34%, 09/15/2034 (e) (aa)		549		548
Series 2020-A, Class A2B, (CME Term SOFR 1 Month + 0.94%), 6.27%, 09/15/2037 (e) (aa)		433		430
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e)		331		301
Series 2021-A, Class A2A1, (CME Term SOFR 1 Month + 0.84%), 6.17%, 01/15/2053 (e) (aa)		1,527		1,513
Series 2021-A, Class APL, (CME Term SOFR 1 Month + 0.84%), 6.17%, 01/15/2053 (e) (aa)		181		176

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2021-D, Class A1B, (CME Term SOFR 1 Month + 0.71%), 6.04%, 03/17/2053 (e) (aa)		163		160
Series 2022-B, Class A1B, (United States 30 Day Average SOFR + 1.45%), 6.77%, 02/16/2055 (e) (aa)		1,436		1,440
Series 2022-C, Class A1B, (United States 30 Day Average SOFR + 1.85%), 7.17%, 05/16/2050 (e) (aa)		215		217
Series 2022-D, Class A1B, (United States 30 Day Average SOFR + 1.80%), 7.12%, 10/15/2058 (e) (aa)		2,180		2,219
Series 2023-A, Class A1A, 5.38%, 01/15/2053 (e)		165		165
Synchrony Card Funding LLC, Series 2023-A1, Class A, 5.54%, 07/15/2029		1,000		1,010
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%), 4.78%, 10/28/2040 (aa)	EUR	297		313
TCI-Symphony CLO 2016-1 Ltd., (Cayman Islands), Series 2016-1A, Class AR2, (CME Term SOFR 3 Month + 1.28%), 6.60%, 10/13/2032 (e) (aa)		260		260
Tesla Auto Lease Trust,
Series 2023-B, Class A2, 6.02%, 09/22/2025 (e)		478		479
Series 2024-A, Class A2A, 5.37%, 06/22/2026 (e)		1,500		1,499
Towd Point Asset Trust, Series 2021-SL1, Class A2, (CME Term SOFR 1 Month + 0.81%), 6.14%, 11/20/2061 (e) (aa)		128		127
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e)		1,500		1,432
Toyota Auto Receivables Owner Trust,
Series 2022-C, Class A2A, 3.83%, 08/15/2025		326		325
Series 2022-C, Class A2B, (United States 30 Day Average SOFR + 0.57%), 5.89%, 08/15/2025 (aa)		434		434
Series 2022-C, Class A3, 3.76%, 04/15/2027		800		787
Series 2023-C, Class A2A, 5.60%, 08/17/2026		458		458
Series 2024-A, Class A3, 4.83%, 10/16/2028		4,109		4,094
Toyota Lease Owner Trust, Series 2023-B, Class A2A, 5.73%, 04/20/2026 (e)		1,019		1,021
Trillium Credit Card Trust II, (Canada), Series 2023-3A, Class A, (United States SOFR + 0.85%), 6.19%, 08/26/2028 (e) (aa)		1,700		1,707
Venture XVIII CLO Ltd., (Cayman Islands), Series 2014-18A, Class AR, (CME Term SOFR 3 Month + 1.48%), 6.80%, 10/15/2029 (e) (aa)		435		435
Verizon Master Trust,
Series 2024-1, Class A1A, 5.00%, 12/20/2028		1,700		1,695
Series 2024-1, Class A1B, (United States 30 Day Average SOFR + 0.65%), 5.97%, 12/20/2028 (aa)		1,578		1,583
Volkswagen Auto Lease Trust, Series 2023-A, Class A2A, 5.87%, 01/20/2026		769		770
Volkswagen Auto Loan Enhanced Trust,
Series 2023-1, Class A2A, 5.50%, 12/21/2026		805		805
Series 2023-2, Class A2A, 5.72%, 03/22/2027		1,500		1,503
Series 2023-2, Class A2B, (United States 30 Day Average SOFR + 0.63%), 5.95%, 03/22/2027 (aa)		4,110		4,119
Voya CLO 2018-3 Ltd., (Cayman Islands), Series 2018-3A, Class A1A, (CME Term SOFR 3 Month + 1.41%), 6.73%, 10/15/2031 (e) (aa)		1,054		1,055
VOYA CLO 2017-2, (Cayman Islands), Series 2017-2A, Class A1R, (CME Term SOFR 3 Month + 1.24%), 6.56%, 06/07/2030 (e) (aa)		159		159
Wind River CLO Ltd., (Cayman Islands), Series 2013-1A, Class A1RR, (CME Term SOFR 3 Month + 1.24%), 6.56%, 07/20/2030 (e) (aa)		77		77
World Omni Auto Receivables Trust,
Series 2023-A, Class A2A, 5.18%, 07/15/2026		356		356
Series 2023-B, Class A2A, 5.25%, 11/16/2026		660		659
Total Asset-Backed Securities (Cost $136,231)				136,339

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 3.9%
Avon Finance, (United Kingdom), Series 4A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.13%, 12/28/2049 (e) (aa)	GBP	729		921
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 08/20/2045 (aa)	GBP	352		445
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z)		279		271
Dutch Property Finance BV, (Netherlands), Series 2022-1, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 4.68%, 10/28/2059 (aa)	EUR	720		778
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	262		331
FNMA REMICS,
Series 2020-29, Class FC, (United States 30 Day Average SOFR + 0.91%), 5.78%, 05/25/2050 (aa)		1,264		1,258
Series 2022-8, Class D, 2.00%, 08/25/2038		1,194		1,077
Friary No. 7 plc, (United Kingdom), Series 7, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.67%), 5.89%, 10/21/2070 (aa)	GBP	203		258
GNMA,
Series 2015-H04, Class FA, (CME Term SOFR 1 Month + 0.76%), 6.09%, 12/20/2064 (aa)		959		954
Series 2017-121, Class PE, 3.00%, 07/20/2046		124		118
Series 2018-H18, Class FC, (CME Term SOFR 1 Month + 0.46%), 5.79%, 08/20/2065 (aa)		413		412
Series 2019-54, Class KF, (CME Term SOFR 1 Month + 0.53%), 5.86%, 05/20/2044 (aa)		290		277
Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 6.82%, 06/20/2071 (aa)		1,378		1,394
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 3.50%, 01/20/2052 (aa)		852		748
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 5.67%, 01/20/2072 (aa)		684		660
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2073 (aa)		509		510
Series 2023-H12, Class FA, (United States 30 Day Average SOFR + 1.00%), 6.32%, 05/20/2073 (aa)		1,722		1,735
Series 2023-H26, Class DF, (United States 30 Day Average SOFR + 0.30%), 5.62%, 09/20/2073 (aa)		1,495		1,483
Series 2023-H27, Class FD, (United States 30 Day Average SOFR + 1.10%), 6.42%, 11/20/2073 (aa)		510		518
Series 2024-H01, Class FB, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2074 (aa)		1,006		1,008
Series 2024-H02, Class FH, (United States 30 Day Average SOFR + 0.93%), 6.25%, 01/20/2074 (aa)		1,005		1,008
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z)		270		246
Holmes Master Issuer plc, (United Kingdom), Series 2023-1X, Class A1, Reg. S, (SONIA Interest Rate Benchmark + 0.58%), 5.80%, 10/15/2072 (aa)	GBP	666		844
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	364		460
Jupiter Mortgage No. 1 plc, (United Kingdom), Series 1X, Class AR, Reg. S, (SONIA Interest Rate Benchmark + 1.00%), 0.00%, 07/20/2055 (aa)	GBP	715		905
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e)		1,076		1,041
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z)		312		275
New Residential Mortgage Loan Trust,
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z)		95		92

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z)		268		245
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z)		414		376
Resimac Bastille Trust, (Australia), Series 2021-2NCA, Class A1A, (CME Term SOFR 1 Month + 0.76%), 6.09%, 02/03/2053 (e) (aa)		139		139
Silverstone Master Issuer plc, (United Kingdom),
Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 5.73%, 01/21/2070 (e) (aa)		406		406
Series 2022-1X, Class 2A, Reg. S, (SONIA Interest Rate Benchmark + 0.29%), 5.51%, 01/21/2070 (aa)	GBP	550		692
Series 2023-1, Class 2A, Reg. S, (SONIA Interest Rate Benchmark + 0.50%), 5.72%, 01/21/2070 (aa)	GBP	635		804
Starwood Mortgage Residential Trust,
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z)		160		150
Series 2020-INV1, Class A1, 1.03%, 11/25/2055 (e) (z)		94		86
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z)		220		199
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 1.35%), 6.57%, 07/20/2045 (e) (aa)	GBP	449		566
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (CME Term SOFR 1 Month + 1.11%), 6.44%, 05/25/2058 (e) (aa)		220		224
Total Collateralized Mortgage Obligations (Cost $24,422)				23,914
Commercial Mortgage-Backed Securities — 3.8%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (CME Term SOFR 1 Month + 1.18%), 6.50%, 09/15/2034 (e) (aa)		500		491
AREIT Trust, (Cayman Islands), Series 2021-CRE5, Class A, (CME Term SOFR 1 Month + 1.19%), 6.52%, 11/17/2038 (e) (aa)		465		461
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (CME Term SOFR 1 Month + 1.17%), 6.50%, 06/15/2035 (e) (aa)		211		209
BAMLL Commercial Mortgage Securities Trust,
Series 2018-DSNY, Class A, (CME Term SOFR 1 Month + 1.15%), 6.47%, 09/15/2034 (e) (aa)		853		853
Series 2019-RLJ, Class A, (CME Term SOFR 1 Month + 1.10%), 6.42%, 04/15/2036 (e) (aa)		400		400
BDS LLC, Series 2022-FL12, Class A, (CME Term SOFR 1 Month + 2.14%), 7.46%, 08/19/2038 (e) (aa)		700		703
Beast Mortgage Trust, Series 2021-SSCP, Class A, (CME Term SOFR 1 Month + 0.86%), 6.19%, 04/15/2036 (e) (aa)		579		574
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.69%, 09/15/2036 (e) (aa)		500		474
BX Commercial Mortgage Trust,
Series 2022-CSMO, Class A, (CME Term SOFR 1 Month + 2.11%), 7.44%, 06/15/2027 (e) (aa)		800		803
Series 2024-MF, Class A, (CME Term SOFR 1 Month + 1.44%), 6.77%, 02/15/2039 (e) (aa)		850		852
Series 2024-XL4, Class A, (CME Term SOFR 1 Month + 1.44%), 6.77%, 02/15/2039 (e) (aa)		916		917
BX Trust,
Series 2024-CNYN, Class A, (CME Term SOFR 1 Month + 1.44%), 6.74%, 04/15/2029 (e) (w) (aa)		154		154
Series 2024-PAT, Class A, (CME Term SOFR 1 Month + 2.09%), 7.34%, 03/15/2026 (e) (aa)		270		270
CEDR Commercial Mortgage Trust, Series 2022-SNAI, Class A, (CME Term SOFR 1 Month + 0.99%), 6.31%, 02/15/2039 (e) (aa)		530		503
CENT Trust, Series 2023-CITY, Class A, (CME Term SOFR 1 Month + 2.62%), 7.95%, 09/15/2038 (e) (aa)		410		414
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058		431		422

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Citigroup Commercial Mortgage Trust, Series 2021-KEYS, Class A, (CME Term SOFR 1 Month + 1.29%), 6.62%, 10/15/2036 (e) (aa)		900		893
COMM Mortgage Trust,
Series 2014-UBS3, Class A4, 3.82%, 06/10/2047		1,600		1,592
Series 2015-LC19, Class ASB, 3.04%, 02/10/2048		79		79
CSMC,
Series 2021-BHAR, Class A, (CME Term SOFR 1 Month + 1.26%), 6.59%, 11/15/2038 (e) (aa)		699		696
Series 2022-NWPT, Class A, (CME Term SOFR 1 Month + 3.14%), 8.47%, 09/09/2024 (e) (aa)		116		116
DBGS Mortgage Trust, Series 2018-BIOD, Class A, (CME Term SOFR 1 Month + 1.10%), 6.42%, 05/15/2035 (e) (aa)		1,188		1,185
FS Rialto Issuer LLC, Series 2022-FL6, Class A, (CME Term SOFR 1 Month + 2.58%), 7.91%, 08/17/2037 (e) (aa)		300		302
ILPT Commercial Mortgage Trust, Series 2022-LPF2, Class A, (CME Term SOFR 1 Month + 2.25%), 7.57%, 10/15/2039 (e) (aa)		480		480
INTOWN Mortgage Trust, Series 2022-STAY, Class A, (CME Term SOFR 1 Month + 2.49%), 7.81%, 08/15/2039 (e) (aa)		1,250		1,256
KREF Ltd., (Cayman Islands), Series 2022-FL3, Class A, (CME Term SOFR 1 Month + 1.45%), 6.78%, 02/17/2039 (e) (aa)		395		392
Life Mortgage Trust, Series 2021-BMR, Class A, (CME Term SOFR 1 Month + 0.81%), 6.14%, 03/15/2038 (e) (aa)		197		194
LUX, Series 2023-LION, Class A, (CME Term SOFR 1 Month + 2.69%), 8.02%, 08/15/2040 (e) (aa)		185		187
MF1X, Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 6.40%, 12/15/2034 (e) (aa)		1,130		1,121
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (CME Term SOFR 1 Month + 1.11%), 6.44%, 05/15/2036 (e) (aa)		700		661
MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, (CME Term SOFR 1 Month + 1.40%), 6.73%, 03/15/2039 (e) (aa)		1,100		1,088
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 7.15%, 03/15/2035 (e) (aa)		681		681
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		1,004
SMRT, Series 2022-MINI, Class A, (CME Term SOFR 1 Month + 1.00%), 6.33%, 01/15/2039 (e) (aa)		350		348
SREIT Trust, Series 2021-IND, Class A, (CME Term SOFR 1 Month + 0.81%), 6.14%, 10/15/2038 (e) (aa)		900		891
Taubman Centers Commercial Mortgage Trust, Series 2022-DPM, Class A, (CME Term SOFR 1 Month + 2.19%), 7.51%, 05/15/2037 (e) (aa)		520		524
Vita Scientia DAC, (Ireland), Series 2022-1X, Class A, Reg. S, (ICE LIBOR EUR 3 Month + 1.30%), 5.23%, 02/27/2033 (aa)	EUR	1,000		1,061
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS2, Class A2, 3.02%, 07/15/2058		98		95
Total Commercial Mortgage-Backed Securities (Cost $23,608)				23,346
Corporate Bonds — 44.2%
Communications — 4.6%
Media — 1.0%
Charter Communications Operating LLC / Charter Communications Operating Capital, 6.15%, 11/10/2026		3,200		3,226
Comcast Corp., 2.35%, 01/15/2027		3,130		2,929
				6,155

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 3.6%
AT&T, Inc., (CME Term SOFR 3 Month + 1.44%), 6.76%, 06/12/2024 (aa)		4,000		4,007
NTT Finance Corp., (Japan),
1.16%, 04/03/2026 (e)		2,345		2,168
4.14%, 07/26/2024 (e)		370		368
Rogers Communications, Inc., (Canada),
2.95%, 03/15/2025		4,750		4,630
3.20%, 03/15/2027		2,210		2,098
Sprint LLC, 7.63%, 03/01/2026		2,000		2,066
T-Mobile USA, Inc.,
2.25%, 02/15/2026		4,440		4,197
2.63%, 04/15/2026		2,300		2,186
				21,720
Total Communications				27,875
Consumer Cyclical — 5.8%
Auto Manufacturers — 5.4%
American Honda Finance Corp.,
0.55%, 07/12/2024		1,070		1,055
(United States SOFR + 0.55%), 5.90%, 02/12/2025 (aa)		1,700		1,703
(SOFR Compounded Index + 0.78%), 6.13%, 04/23/2025 (aa)		2,724		2,735
BMW US Capital LLC,
(SOFR Compounded Index + 0.38%), 5.73%, 08/12/2024 (e) (aa)		2,130		2,132
(SOFR Compounded Index + 0.84%), 6.21%, 04/01/2025 (e) (aa)		1,100		1,106
Daimler Truck Finance North America LLC, 5.20%, 01/17/2025 (e)		2,000		1,993
Ford Motor Credit Co. LLC,
2.30%, 02/10/2025		400		388
2.70%, 08/10/2026		1,150		1,072
5.13%, 06/16/2025		200		198
5.80%, 03/05/2027		1,250		1,255
7.35%, 11/04/2027		1,795		1,883
General Motors Financial Co., Inc.,
3.50%, 11/07/2024		2,000		1,974
(SOFR Compounded Index + 1.30%), 6.65%, 04/07/2025 (aa)		700		705
Hyundai Capital America,
1.00%, 09/17/2024 (e)		3,025		2,960
(United States SOFR + 1.15%), 6.50%, 08/04/2025 (e) (aa)		1,100		1,106
Mercedes-Benz Finance North America LLC, 4.90%, 01/09/2026 (e)		2,080		2,075
Nissan Motor Acceptance Co. LLC, 1.13%, 09/16/2024 (e)		2,600		2,541
Nissan Motor Co. Ltd., (Japan), 3.52%, 09/17/2025 (e)		600		579
Toyota Motor Credit Corp.,
4.80%, 01/05/2026		3,265		3,253
(United States SOFR + 0.65%), 6.01%, 09/11/2025 (aa)		1,000		1,004
Volkswagen Group of America Finance LLC,
5.80%, 09/12/2025 (e)		221		222
(United States SOFR + 0.93%), 6.29%, 09/12/2025 (e) (aa)		1,000		1,003
				32,942
Entertainment — 0.2%
Warnermedia Holdings, Inc., 3.64%, 03/15/2025		1,000		980
Home Builders — 0.1%
Lennar Corp., 4.50%, 04/30/2024		500		500

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.1%
Hyatt Hotels Corp., 1.80%, 10/01/2024		500		490
Total Consumer Cyclical				34,912
Consumer Non-cyclical — 4.7%
Agriculture — 1.3%
BAT Capital Corp.,
3.22%, 09/06/2026		2,175		2,070
3.22%, 08/15/2024		580		574
4.70%, 04/02/2027		2,750		2,703
Imperial Brands Finance plc, (United Kingdom), 3.13%, 07/26/2024 (e)		1,100		1,091
Philip Morris International, Inc., 4.75%, 02/12/2027		1,530		1,522
				7,960
Beverages — 0.1%
JDE Peet’s NV, (Netherlands), 0.80%, 09/24/2024 (e)		400		390
Biotechnology — 0.4%
Amgen, Inc., 5.25%, 03/02/2025		2,935		2,926
Commercial Services — 0.7%
Global Payments, Inc.,
1.20%, 03/01/2026		2,500		2,313
1.50%, 11/15/2024		1,500		1,462
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 6.40%, 12/16/2024 (aa)	AUD	700		459
				4,234
Cosmetics/Personal Care — 0.2%
Haleon UK Capital plc, (United Kingdom), 3.13%, 03/24/2025		1,000		976
Food — 0.2%
J M Smucker Co. (The), 3.50%, 03/15/2025		1,000		980
Healthcare - Products — 0.3%
Baxter International, Inc., 1.32%, 11/29/2024		1,800		1,748
Healthcare - Services — 0.8%
HCA, Inc.,
5.25%, 04/15/2025		1,100		1,096
5.38%, 09/01/2026		2,000		2,000
Roche Holdings, Inc., 2.63%, 05/15/2026 (e)		1,866		1,780
				4,876
Pharmaceuticals — 0.7%
AbbVie, Inc., 3.60%, 05/14/2025		1,000		982
Bayer US Finance II LLC, 4.25%, 12/15/2025 (e)		1,800		1,755
Pfizer Investment Enterprises Pte Ltd., (Singapore), 4.65%, 05/19/2025		1,600		1,590
				4,327
Total Consumer Non-cyclical				28,417
Energy — 1.7%
Pipelines — 1.7%
ONEOK, Inc., 5.55%, 11/01/2026		1,500		1,514
Sabine Pass Liquefaction LLC, 5.63%, 03/01/2025		4,900		4,895

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Targa Resources Corp., 5.20%, 07/01/2027		1,990		1,988
Williams Cos., Inc. (The), 4.55%, 06/24/2024		2,000		1,995
Total Energy				10,392
Financial — 20.5%
Banks — 17.5%
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024		1,000		972
Banco Santander SA, (Spain),
3.89%, 05/24/2024		500		499
(CMT Index 1 Year + 0.45%), 5.74%, 06/30/2024 (aa)		400		400
Bank of America Corp.,
(Canada Bankers Acceptances 3 Month + 0.90%), 2.93%, 04/25/2025 (aa)	CAD	1,400		1,032
(United States SOFR + 1.75%), 4.83%, 07/22/2026 (aa)		4,000		3,965
(United States SOFR + 1.29%), 5.08%, 01/20/2027 (aa)		3,785		3,767
(United States SOFR + 1.34%), 5.93%, 09/15/2027 (aa)		3,200		3,244
(CME Term SOFR 3 Month + 1.03%), 6.30%, 02/05/2026 (aa)		400		402
(United States SOFR + 1.10%), 6.45%, 04/25/2025 (aa)		600		600
Bank of Montreal, (Canada), Series H, 4.25%, 09/14/2024		2,000		1,988
Banque Federative du Credit Mutuel SA, (France),
Reg. S, 1.00%, 02/04/2025		500		481
5.90%, 07/13/2026 (e)		1,300		1,317
Barclays plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa)		700		699
(CMT Index 1 Year + 2.30%), 5.30%, 08/09/2026 (aa)		4,205		4,184
BPCE SA, (France),
4.00%, 04/15/2024		700		700
Reg. S, (United States SOFR + 0.57%), 5.92%, 01/14/2025 (aa)		700		701
(United States SOFR + 0.96%), 6.32%, 09/25/2025 (e) (aa)		2,140		2,156
Citibank NA, (SOFR Compounded Index + 1.06%), 6.42%, 12/04/2026 (aa)		800		810
Citigroup, Inc.,
(United States SOFR + 0.69%), 2.01%, 01/25/2026 (aa)		4,250		4,120
(United States SOFR + 1.53%), 3.29%, 03/17/2026 (aa)		5,490		5,366
(United States SOFR + 0.67%), 6.02%, 05/01/2025 (f) (aa)		900		900
(United States SOFR + 1.37%), 6.73%, 05/24/2025 (aa)		2,000		2,002
Credit Suisse AG, (Switzerland),
3.63%, 09/09/2024		300		297
3.70%, 02/21/2025		1,500		1,475
Deutsche Bank AG, (Germany),
0.90%, 05/28/2024		2,100		2,084
(United States SOFR + 1.13%), 1.45%, 04/01/2025 (aa)		1,700		1,700
3.70%, 05/30/2024		1,700		1,693
DNB Bank ASA, (Norway), (SOFR Compounded Index + 1.95%), 5.90%, 10/09/2026 (e) (aa)		600		603
Federation des Caisses Desjardins du Quebec, (Canada),
0.70%, 05/21/2024 (e)		1,000		993
2.05%, 02/10/2025 (e)		500		485
(United States SOFR + 0.43%), 5.79%, 05/21/2024 (e) (aa)		1,900		1,901
First Abu Dhabi Bank PJSC, (United Arab Emirates), (BBSW ASX Australian 3 Month + 1.10%), 5.43%, 02/18/2025 (aa)	AUD	700		456
Goldman Sachs Bank USA, (United States SOFR + 0.78%), 5.28%, 03/18/2027 (aa)		2,110		2,109
Goldman Sachs Group, Inc. (The),
5.70%, 11/01/2024		2,000		2,001

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%), 5.84%, 10/21/2024 (aa)		900		900
(United States SOFR + 0.50%), 5.86%, 09/10/2024 (aa)		2,500		2,501
HSBC Holdings plc, (United Kingdom),
(United States SOFR + 1.51%), 4.18%, 12/09/2025 (aa)		1,000		988
(United States SOFR + 1.57%), 5.89%, 08/14/2027 (aa)		2,090		2,109
HSBC USA, Inc., 5.63%, 03/17/2025		1,500		1,502
ING Groep NV, (Netherlands),
3.55%, 04/09/2024		700		700
(SOFR Compounded Index + 1.64%), 7.01%, 03/28/2026 (aa)		1,000		1,010
Lloyds Banking Group plc, (United Kingdom),
(CMT Index 1 Year + 1.00%), 2.44%, 02/05/2026 (aa)		400		389
4.45%, 05/08/2025		1,800		1,778
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		700		698
(United States SOFR + 0.94%), 6.29%, 02/20/2026 (aa)		1,000		1,002
(United States SOFR + 1.65%), 7.00%, 07/18/2025 (aa)		1,300		1,305
Mizuho Financial Group, Inc., (Japan), (CME Term SOFR 3 Month + 1.24%), 2.84%, 07/16/2025 (aa)		800		793
Morgan Stanley,
(United States SOFR + 0.56%), 1.16%, 10/21/2025 (aa)		1,400		1,363
(United States SOFR + 0.51%), 5.86%, 01/22/2025 (aa)		500		500
Morgan Stanley Bank NA,
(United States SOFR + 1.08%), 4.95%, 01/14/2028 (aa)		4,825		4,807
5.88%, 10/30/2026		1,465		1,494
National Australia Bank Ltd., (Australia), 4.75%, 12/10/2025		1,450		1,445
NatWest Markets plc, (United Kingdom), 3.48%, 03/22/2025 (e)		1,825		1,790
Nordea Bank Abp, (Finland), (United States SOFR + 0.96%), 6.32%, 06/06/2025 (e) (aa)		500		503
Oversea-Chinese Banking Corp. Ltd., (Singapore), (BBSW ASX Australian 3 Month + 0.26%), 4.61%, 08/12/2024 (aa)	AUD	1,000		652
Royal Bank of Canada, (Canada),
5.66%, 10/25/2024		980		981
(SOFR Compounded Index + 1.08%), 6.43%, 07/20/2026 (aa)		2,000		2,019
Skandinaviska Enskilda Banken AB, (Sweden), 1.40%, 11/19/2025 (e)		1,900		1,787
Societe Generale SA, (France),
(United States SOFR + 1.05%), 6.40%, 01/21/2026 (e) (aa)		500		501
Reg. S, (United States SOFR + 1.05%), 6.40%, 01/21/2026 (aa)		1,100		1,101
Standard Chartered plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa)		1,600		1,594
Reg. S, (United States SOFR + 0.93%), 6.29%, 11/23/2025 (aa)		200		200
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 5.60%, 10/16/2024 (aa)	AUD	2,300		1,502
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e)		200		196
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e)		2,400		2,432
UBS AG, (Switzerland),
Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 5.21%, 07/30/2025 (aa)	AUD	2,100		1,365
(United States SOFR + 0.45%), 5.80%, 08/09/2024 (e) (aa)		1,615		1,616
Wells Fargo & Co., (CME Term SOFR 3 Month + 1.09%), 2.41%, 10/30/2025 (aa)		1,800		1,766

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Wells Fargo Bank NA,
4.81%, 01/15/2026		2,560		2,548
(United States SOFR + 0.80%), 6.15%, 08/01/2025 (aa)		2,620		2,632
				106,571
Diversified Financial Services — 2.0%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland),
1.65%, 10/29/2024		200		195
3.50%, 01/15/2025		1,300		1,278
Ally Financial, Inc., 5.13%, 09/30/2024		1,700		1,693
American Express Co., (SOFR Compounded Index + 0.93%), 6.29%, 03/04/2025 (aa)		1,120		1,126
Avolon Holdings Funding Ltd., (Cayman Islands), 3.95%, 07/01/2024 (e)		900		895
Capital One Financial Corp., (United States SOFR + 1.37%), 4.17%, 05/09/2025 (aa)		2,700		2,695
LeasePlan Corp. NV, (Netherlands), 2.88%, 10/24/2024 (e)		1,500		1,476
Mitsubishi HC Capital, Inc., (Japan), 3.64%, 04/13/2025 (e)		300		293
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025		1,900		1,810
ORIX Corp., (Japan), 3.25%, 12/04/2024		400		394
				11,855
Insurance — 0.3%
New York Life Global Funding, 5.45%, 09/18/2026 (e)		2,000		2,017
REITS — 0.7%
GLP Capital LP / GLP Financing II, Inc., 5.38%, 04/15/2026		4,230		4,194
Total Financial				124,637
Industrial — 3.5%
Aerospace/Defense — 0.8%
Northrop Grumman Corp., 2.93%, 01/15/2025		2,000		1,963
RTX Corp.,
2.65%, 11/01/2026		2,000		1,886
3.13%, 05/04/2027		1,055		999
				4,848
Electronics — 0.3%
Arrow Electronics, Inc., 3.25%, 09/08/2024		1,800		1,780
Engineering & Construction — 0.3%
Sydney Airport Finance Co. Pty Ltd., (Australia), Reg. S, 3.63%, 04/28/2026		1,700		1,639
Machinery - Construction & Mining — 0.3%
Caterpillar Financial Services Corp., (United States SOFR + 0.52%), 5.88%, 06/13/2025 (aa)		2,000		2,009
Machinery - Diversified — 0.2%
John Deere Capital Corp., 1.75%, 03/09/2027		1,495		1,372
Miscellaneous Manufacturers — 0.8%
Parker-Hannifin Corp., 3.65%, 06/15/2024		5,100		5,078
Packaging & Containers — 0.2%
Berry Global, Inc., 4.88%, 07/15/2026 (e)		1,400		1,372

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.6%
Canadian Pacific Railway Co., (Canada), 1.35%, 12/02/2024		3,540		3,443
Total Industrial				21,541
Technology — 1.6%
Semiconductors — 0.3%
Broadcom, Inc., 3.63%, 10/15/2024		1,000		989
Renesas Electronics Corp., (Japan), 1.54%, 11/26/2024 (e)		1,000		971
				1,960
Software — 1.3%
Fiserv, Inc., 2.75%, 07/01/2024		1,500		1,489
Oracle Corp.,
2.80%, 04/01/2027		1,470		1,379
2.95%, 11/15/2024		1,000		984
2.95%, 05/15/2025		1,000		974
3.40%, 07/08/2024		1,625		1,614
VMware LLC, 1.00%, 08/15/2024		1,500		1,474
				7,914
Total Technology				9,874
Utilities — 1.8%
Electric — 1.8%
Algonquin Power & Utilities Corp., (Canada), SUB, 5.37%, 06/15/2026		1,400		1,393
Ausgrid Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 1.22%), 5.56%, 10/30/2024 (aa)	AUD	1,500		979
Black Hills Corp., 1.04%, 08/23/2024		1,500		1,473
Enel Finance International NV, (Netherlands),
2.65%, 09/10/2024 (e)		1,500		1,479
4.25%, 06/15/2025 (e)		300		295
Israel Electric Corp. Ltd., (Israel), Series 6, Reg. S, 5.00%, 11/12/2024 (e)		1,800		1,787
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024		1,740		1,711
Korea Southern Power Co. Ltd., (South Korea), (BBSW ASX Australian 3 Month + 0.97%), 5.31%, 10/30/2024 (aa)	AUD	500		326
NextEra Energy Capital Holdings, Inc., 4.26%, 09/01/2024		1,175		1,167
Pacific Gas and Electric Co., 3.40%, 08/15/2024		100		99
Total Utilities				10,709
Total Corporate Bonds (Cost $268,994)				268,357
Foreign Government Securities — 0.6%
Export-Import Bank of Korea, (South Korea), 4.88%, 01/11/2026		500		500
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026		3,100		2,872
Total Foreign Government Securities (Cost $3,599)				3,372
Municipal Bond — 0.3% (t)
Pennsylvania — 0.3%
Philadelphia Authority for Industrial Development, Taxable, Rev., 0.94%, 04/15/2024 (Cost $1,555)		1,555		1,552
U.S. Government Agency Securities — 3.3%
FHLBs,
0.38%, 05/17/2024		1,500		1,491
0.46%, 09/10/2024		2,500		2,444

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
1.04%, 06/14/2024		2,000		1,981
5.30%, 12/06/2024		1,000		1,000
5.50%, 02/20/2026		1,300		1,300
5.64%, 04/02/2025		1,000		1,000
0.40%, 05/24/2024		1,360		1,350
FHLMC,
4.05%, 08/28/2025		3,500		3,457
5.05%, 01/28/2025		1,000		998
5.08%, 10/25/2024		1,000		999
5.60%, 03/06/2026		1,000		999
5.70%, 03/06/2026		2,000		2,000
FNMA, 4.00%, 02/28/2025		1,000		988
Total U.S. Government Agency Securities (Cost $20,071)				20,007
U.S. Treasury Obligations — 7.4%
U.S. Treasury Notes,
0.38%, 07/15/2024		2,000		1,972
0.38%, 09/15/2024		9,000		8,804
1.50%, 09/30/2024		1,000		982
1.75%, 03/15/2025		18,000		17,448
1.88%, 08/31/2024		14,000		13,802
2.00%, 04/30/2024		2,250		2,244
Total U.S. Treasury Obligations (Cost $45,272)				45,252
Short-Term Investments — 13.7%
Certificates of Deposit — 0.7%
Citibank NA, 5.97%, 05/10/2024 (n)		2,000		2,001
Royal Bank of Canada, 5.97%, 06/27/2024 (n)		2,000		2,001
Total Certificates of Deposit				4,002
Commercial Papers — 3.4%
Bayer Corp., 5.69%, 07/09/2024 (e) (n)		2,000		1,967
BPCE SA, (France), 5.93%, 06/04/2024 (e) (n)		2,000		1,980
Dominion Energy, Inc., 5.63%, 04/23/2024 (e) (n)		1,000		996
Eversource Energy, 5.58%, 04/03/2024 (e) (n)		1,800		1,798
General Motors Financial Co., Inc., 5.63%, 06/11/2024 (e) (n)		1,000		988
HSBC USA, Inc.,
6.46%, 08/22/2024 (e) (n)		1,000		978
6.46%, 09/09/2024 (e) (n)		2,200		2,145
6.52%, 10/11/2024 (e) (n)		2,000		1,939
6.55%, 06/24/2024 (e) (n)		750		740
L3Harris Technologies, Inc.,
5.54%, 04/15/2024 (e) (n)		900		898
5.54%, 04/17/2024 (e) (n)		600		598
5.54%, 04/18/2024 (e) (n)		300		299
Microchip Technologies, Inc., 5.54%, 04/30/2024 (e) (n)		1,800		1,791
Phillips 66, 5.56%, 04/02/2024 (e) (n)		1,800		1,799
Walt Disney Co. (The), 5.48%, 06/13/2024 (e) (n)		2,000		1,976
Total Commercial Papers				20,892
Foreign Government Security — 1.4%
Canadian Treasury Bill, (Canada), 5.00%, 06/20/2024 (n)	CAD	11,700		8,539

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Repurchase Agreement — 0.5%
BNP Paribas Securities Corp., 5.43%, dated 03/28/2024 due 04/01/2024, repurchase price $3,002 collateralized by U.S. Treasury Security, 0.50%, due 04/30/2027, with a value of $3,063.		3,000		3,000
Time Deposits — 5.2%
BNP Paribas SA, 3.79%, 04/01/2024	CAD	2		1
Citibank NA, 2.85%, 04/02/2024	EUR	213		230
Royal Bank of Canada, 4.15%, 04/02/2024	GBP	107		135
Sumitomo Mitsui Banking Corp., 4.68%, 03/29/2024		31,194		31,194
Total Time Deposits				31,560
U.S. Treasury Obligations — 2.5%
U.S. Treasury Bills,
5.30%, 06/06/2024 (n)		11,000		10,895
5.30%, 06/20/2024 (ii) (n)		106		105
5.32%, 04/09/2024 (n)		4,300		4,295
Total U.S. Treasury Obligations				15,295
Total Short-Term Investments (Cost $83,263)				83,288
Total Investments — 99.7% (Cost - $607,015)*				605,427
Other Assets in Excess of Liabilities — 0.3%				1,724
NET ASSETS — 100.0%			$	607,151

Percentages indicated are based on net assets.

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Futures contracts outstanding as of March 31, 2024:

Exchange Traded

DESCRIPTION	NUMBER OF CONTRACTS			EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT ($)			VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($)
Long Contracts
10 Year Commonwealth Treasury Bond		76			06/2024		AUD		5,775			(2	)
U.S. Treasury 2 Year Note		79			06/2024		USD		16,171			(16	)
U.S. Treasury 5 Year Note		135			06/2024		USD		14,429			18
												(—	)(h)
Short Contracts
SOFR 3 Month		(35	)		09/2026		USD		(8,472	)		39
U.S. Treasury 10 Year Note		(29	)		06/2024		USD		(3,191	)		(22	)
U.S. Treasury 2 Year Note		(36	)		06/2024		USD		(7,367	)		5
U.S. Treasury 5 Year Note		(298	)		06/2024		USD		(31,851	)		(40	)
U.S. Treasury Ultra Bond		(11	)		06/2024		USD		(1,378	)		(41	)
U.S. Ultra Treasury 10 Year Note		(78	)		06/2024		USD		(8,911	)		(28	)
												(87	)
Total unrealized appreciation (depreciation)												(87	)

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024:

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE		UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	321	AUD	491	Morgan Stanley & Co.		04/02/2024		1
USD	2,460	GBP	1,947	Bank of America, NA		04/02/2024		3
USD	2,293	GBP	1,808	Bank of America, NA		04/02/2024		12
GBP	7,414	USD	9,347	Barclays Bank plc		04/02/2024		11
USD	348	JPY	52,549	Bank of America, NA		04/02/2024		1
USD	2,851	AUD	4,349	Bank of America, NA		05/02/2024		15
USD	72	AUD	110	Barclays Bank plc		05/02/2024		—	(h)
CAD	262	USD	193	Morgan Stanley & Co.		05/02/2024		1
USD	2,987	GBP	2,362	Barclays Bank plc		05/02/2024		5
USD	4	GBP	3	Morgan Stanley & Co.		05/02/2024		—	(h)
USD	997	EUR	914	BNP Paribas		06/20/2024		8
USD	14,087	EUR	12,882	UBS AG LONDON		06/20/2024		144
USD	7,027	GBP	5,517	Nomura International plc		06/20/2024		61
USD	817	GBP	643	UBS AG LONDON		06/20/2024		5
Total unrealized appreciation								267
AUD	4,349	USD	2,848	Bank of America, NA		04/02/2024		(14	)
USD	5,684	AUD	8,747	Barclays Bank plc		04/02/2024		(16	)
AUD	1,172	USD	770	Deutsche Bank AG		04/02/2024		(6	)
USD	2,375	CAD	3,224	Morgan Stanley & Co.		04/02/2024		(6	)
USD	7,599	GBP	6,022	Morgan Stanley & Co.		04/02/2024		(2	)
JPY	52,761	USD	353	Barclays Bank plc		04/02/2024		(5	)
USD	2,415	AUD	3,717	Barclays Bank plc		05/02/2024		(9	)
JPY	52,310	USD	348	Bank of America, NA		05/02/2024		(1	)
USD	8,620	CAD	11,700	Citibank, NA		06/20/2024		(28	)
Total unrealized depreciation								(87	)
Net unrealized appreciation (depreciation)								180

Six Circles Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 MARCH 31, 2024

ASX	—	Australian Stock Exchange
BBSW	—	Bank Bill Swap Rate
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 March 31, 2024.
(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.
(h)	—	Amount rounds to less than 500 shares or principal/ $500.
(f)	—	Security is exempt from registration under Rule 144A or Section 4 (a) (2) of the Securities Act of 1933, as amended.
(n)	—	The rate shown is the effective yield as of March 31, 2024.
(t)	—	The date shown represents the earliest of the prerefunded date, 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 March 31, 2024.
(aa)	—	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of March 31, 2024.
(ii)	—	Approximately $24 of these investments are restricted as collateral for forwards to Barclays Bank PLC.
*	—	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
USD	—	United States Dollar

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 8.9%
American Express Credit Account Master Trust, Series 2022-2, Class A, 3.39%, 05/15/2027		1,200		1,175
Avis Budget Rental Car Funding AESOP LLC, Series 2024-1A, Class A, 5.36%, 06/20/2030 (e)		2,000		2,011
Bank of America Auto Trust,
Series 2023-1A, Class A2, 5.83%, 05/15/2026 (e)		789		790
Series 2023-2A, Class A2, 5.85%, 08/17/2026 (e)		2,400		2,405
BMW Canada Auto Trust, (Canada), Series 2023-1A, Class A1, 5.43%, 01/20/2026 (e)	CAD	482		356
BMW Vehicle Lease Trust, Series 2023-1, Class A2, 5.27%, 02/25/2025		224		224
Capital One Multi-Asset Execution Trust,
Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.69%), 6.02%, 07/15/2027 (aa)		1,000		1,002
Series 2021-A3, Class A3, 1.04%, 11/15/2026		1,300		1,264
Series 2022-A1, Class A1, 2.80%, 03/15/2027		2,400		2,343
Series 2022-A2, Class A, 3.49%, 05/15/2027		500		490
Capital One Prime Auto Receivables Trust, Series 2022-2, Class A2B, (United States 30 Day Average SOFR + 0.65%), 5.97%, 09/15/2025 (aa)		365		365
CARDS II Trust, (Canada), Series 2023-2A, Class A, (United States SOFR + 0.85%), 6.18%, 07/15/2028 (e) (aa)		1,500		1,504
CarMax Auto Owner Trust,
Series 2022-4, Class A2A, 5.34%, 12/15/2025		182		182
Series 2022-4, Class A2B, (United States 30 Day Average SOFR + 0.90%), 6.22%, 12/15/2025 (aa)		339		339
Series 2023-4, Class A2A, 6.08%, 12/15/2026		1,300		1,305
Series 2024-1, Class A2A, 5.30%, 03/15/2027		1,300		1,299
Carvana Auto Receivables Trust, Series 2023-P4, Class A2, 6.23%, 01/11/2027 (e)		499		500
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		1,000
Series 2017-A6, Class A6, (CME Term SOFR 1 Month + 0.88%), 6.21%, 05/14/2029 (aa)		2,000		2,018
Series 2018-A5, Class A5, (CME Term SOFR 1 Month + 0.72%), 6.05%, 08/07/2027 (aa)		1,000		1,003
Series 2023-A1, Class A1, 5.23%, 12/08/2027		2,300		2,301
CNH Equipment Trust, Series 2023-B, Class A2, 5.90%, 02/16/2027		700		701
Daimler Trucks Retail Trust, Series 2023-1, Class A2, 6.03%, 09/15/2025		558		559
Dell Equipment Finance Trust, Series 2023-2, Class A2, 5.84%, 01/22/2029 (e)		479		479
Discover Card Execution Note Trust, Series 2017-A5, Class A5, (CME Term SOFR 1 Month + 0.71%), 6.04%, 12/15/2026 (aa)		1,000		1,001
ELFI Graduate Loan Program LLC, Series 2021-A, Class A, 1.53%, 12/26/2046 (e)		743		643
Enterprise Fleet Financing LLC, Series 2022-1, Class A2, 3.03%, 01/20/2028 (e)		411		406
Ford Auto Securitization Trust, (Canada), Series 2021-AA, Class A2, 1.16%, 10/15/2025 (e)	CAD	109		80

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Credit Auto Lease Trust, Series 2023-B, Class A2B, (United States 30 Day Average SOFR + 0.59%), 5.91%, 02/15/2026 (aa)		1,200		1,202
GM Financial Automobile Leasing Trust,
Series 2023-1, Class A2A, 5.27%, 06/20/2025		454		454
Series 2023-2, Class A2A, 5.44%, 10/20/2025		637		636
GM Financial Consumer Automobile Receivables Trust,
Series 2022-3, Class A2B, (United States 30 Day Average SOFR + 0.60%), 5.92%, 09/16/2025 (aa)		260		260
Series 2023-2, Class A2A, 5.10%, 05/18/2026		624		622
Series 2023-2, Class A2B, (United States 30 Day Average SOFR + 0.75%), 6.07%, 05/18/2026 (aa)		624		625
Series 2023-4, Class A2A, 5.89%, 11/16/2026		900		902
GMF Canada Leasing Trust, (Canada), Series 2023-1A, Class A1, 5.46%, 04/21/2025 (e)	CAD	431		318
GMF Floorplan Owner Revolving Trust, Series 2019-2, Class A, 2.90%, 04/15/2026 (e)		2,500		2,497
Hertz Vehicle Financing III LLC, Series 2023-1A, Class A, 5.49%, 06/25/2027 (e)		2,000		2,003
Hyundai Auto Lease Securitization Trust, Series 2023-A, Class A2A, 5.20%, 04/15/2025 (e)		370		370
Hyundai Auto Receivables Trust, Series 2023-A, Class A2A, 5.19%, 12/15/2025		585		584
M&T Equipment Notes, Series 2023-1A, Class A2, 6.09%, 07/15/2030 (e)		677		677
Master Credit Card Trust II, (Canada), Series 2023-1A, Class A, 4.70%, 06/21/2027 (e)		600		595
Master Credit Card Trust, (Canada), Series 2021-1A, Class A, 0.53%, 11/21/2025 (e)		900		894
MBarc Credit Canada, Inc., (Canada), Series 2024-AA, Class A2, 5.30%, 10/15/2026 (e)	CAD	800		607
Navient Private Education Loan Trust,
Series 2018-BX, Class A2B, Reg. S, (CME Term SOFR 1 Month + 0.83%), 6.16%, 12/15/2059 (aa)		566		564
Series 2020-A, Class A2B, (CME Term SOFR 1 Month + 1.01%), 6.34%, 11/15/2068 (e) (aa)		826		821
Nelnet Student Loan Trust, Series 2019-2A, Class A, (United States 30 Day Average SOFR + 1.01%), 6.33%, 06/27/2067 (e) (aa)		696		692
Oscar US Funding XI LLC, (Japan), Series 2019-2A, Class A4, 2.68%, 09/10/2026 (e)		32		32
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-WCW2, Class M2, (CME Term SOFR 1 Month + 0.91%), 6.24%, 07/25/2035 (aa)		388		383
Pawnee Equipment Receivables Series LLC, Series 2021-1, Class A2, 1.10%, 07/15/2027 (e)		238		234
PRET LLC,
Series 2021-NPL3, Class A1, SUB, 1.87%, 07/25/2051 (e)		637		615
Series 2021-NPL6, Class A1, SUB, 2.49%, 07/25/2051 (e)		256		250
Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A1, SUB, 1.99%, 02/25/2061 (e)		193		188
SLM Student Loan Trust, Series 2004-10, Class A7B, (United States 90 Day Average SOFR + 0.86%), 6.22%, 10/25/2029 (e) (aa)		328		328
SMB Private Education Loan Trust,
Series 2016-C, Class A2A, 2.34%, 09/15/2034 (e)		134		132
Series 2020-PTA, Class A2A, 1.60%, 09/15/2054 (e)		378		344
Series 2022-C, Class A1B, (United States 30 Day Average SOFR + 1.85%), 7.17%, 05/16/2050 (e) (aa)		286		289
Series 2023-A, Class A1A, 5.38%, 01/15/2053 (e)		165		165
Synchrony Card Funding LLC, Series 2023-A1, Class A, 5.54%, 07/15/2029		1,000		1,010
Tesla Auto Lease Trust,
Series 2023-B, Class A2, 6.02%, 09/22/2025 (e)		573		574

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2024-A, Class A2A, 5.37%, 06/22/2026 (e)		1,800		1,799
Towd Point Asset Trust, Series 2021-SL1, Class A2, (CME Term SOFR 1 Month + 0.81%), 6.14%, 11/20/2061 (e) (aa)		128		127
Toyota Auto Loan Extended Note Trust, Series 2020-1A, Class A, 1.35%, 05/25/2033 (e)		1,800		1,718
Toyota Auto Receivables Owner Trust,
Series 2022-C, Class A3, 3.76%, 04/15/2027		1,000		983
Series 2023-C, Class A2A, 5.60%, 08/17/2026		458		458
Toyota Lease Owner Trust, Series 2023-B, Class A2A, 5.73%, 04/20/2026 (e)		1,111		1,114
Trillium Credit Card Trust II, (Canada), Series 2023-3A, Class A, (United States SOFR + 0.85%), 6.19%, 08/26/2028 (e) (aa)		2,000		2,008
Verizon Master Trust, Series 2024-1, Class A1A, 5.00%, 12/20/2028		2,000		1,994
Volkswagen Auto Lease Trust, Series 2023-A, Class A2A, 5.87%, 01/20/2026		865		867
Volkswagen Auto Loan Enhanced Trust,
Series 2023-1, Class A2A, 5.50%, 12/21/2026		805		805
Series 2023-2, Class A2A, 5.72%, 03/22/2027		2,300		2,305
World Omni Auto Receivables Trust,
Series 2023-A, Class A2A, 5.18%, 07/15/2026		509		509
Series 2023-B, Class A2A, 5.25%, 11/16/2026		660		659
Total Asset-Backed Securities (Cost $63,091)				62,958
Collateralized Mortgage Obligations — 2.9%
Avon Finance, (United Kingdom), Series 4A, Class A, (SONIA Interest Rate Benchmark + 0.90%), 6.13%, 12/28/2049 (e) (aa)	GBP	1,094		1,381
Cheshire plc, (United Kingdom), Series 2020-1, Class A, Reg. S, (SONIA Interest Rate Benchmark + 0.90%), 6.12%, 08/20/2045 (aa)	GBP	352		445
CSMC Trust, Series 2021-RPL4, Class A1, 1.80%, 12/27/2060 (e) (z)		279		271
FNMA REMICS,
Series 2020-29, Class FC, (United States 30 Day Average SOFR + 0.91%), 5.78%, 05/25/2050 (aa)		1,408		1,402
Series 2022-8, Class D, 2.00%, 08/25/2038		1,260		1,137
GNMA,
Series 2015-H04, Class FA, (CME Term SOFR 1 Month + 0.76%), 6.09%, 12/20/2064 (aa)		959		953
Series 2017-121, Class PE, 3.00%, 07/20/2046		148		140
Series 2018-H18, Class FC, (CME Term SOFR 1 Month + 0.46%), 5.79%, 08/20/2065 (aa)		413		412
Series 2019-54, Class KF, (CME Term SOFR 1 Month + 0.53%), 5.86%, 05/20/2044 (aa)		340		326
Series 2021-H09, Class FG, (United States 30 Day Average SOFR + 1.50%), 6.82%, 06/20/2071 (aa)		1,464		1,481
Series 2022-5, Class FA, (United States 30 Day Average SOFR + 0.30%), 3.50%, 01/20/2052 (aa)		852		748
Series 2022-H01, Class FA, (United States 30 Day Average SOFR + 0.35%), 5.67%, 01/20/2072 (aa)		782		755
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2073 (aa)		407		408
Series 2023-H12, Class FA, (United States 30 Day Average SOFR + 1.00%), 6.32%, 05/20/2073 (aa)		2,026		2,041
Series 2023-H26, Class DF, (United States 30 Day Average SOFR + 0.30%), 5.62%, 09/20/2073 (aa)		2,110		2,094
Series 2023-H27, Class FD, (United States 30 Day Average SOFR + 1.10%), 6.42%, 11/20/2073 (aa)		510		518
Series 2024-H01, Class FB, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2074 (aa)		1,006		1,008

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2024-H02, Class FH, (United States 30 Day Average SOFR + 0.93%), 6.25%, 01/20/2074 (aa)		1,206		1,209
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (e) (z)		216		197
Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, SUB, 1.75%, 07/25/2061 (e)		1,148		1,110
MFA Trust, Series 2021-RPL1, Class A1, 1.13%, 07/25/2060 (e) (z)		364		320
New Residential Mortgage Loan Trust,
Series 2018-3A, Class A1, 4.50%, 05/25/2058 (e) (z)		95		92
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059 (e) (z)		240		219
Series 2021-NQ2R, Class A1, 0.94%, 10/25/2058 (e) (z)		440		399
Silverstone Master Issuer plc, (United Kingdom), Series 2022-1A, Class 1A, (United States SOFR + 0.38%), 5.73%, 01/21/2070 (e) (aa)		406		406
Starwood Mortgage Residential Trust,
Series 2020-3, Class A1, 1.49%, 04/25/2065 (e) (z)		192		180
Series 2021-2, Class A1, 0.94%, 05/25/2065 (e) (z)		248		224
Towd Point Mortgage Funding, (United Kingdom), Series 2019-A13A, Class A1, (SONIA Interest Rate Benchmark + 1.35%), 6.57%, 07/20/2045 (e) (aa)	GBP	449		566
Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (CME Term SOFR 1 Month + 1.11%), 6.44%, 05/25/2058 (e) (aa)		220		224
Total Collateralized Mortgage Obligations (Cost $21,250)				20,666
Commercial Mortgage-Backed Securities — 1.2%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, (CME Term SOFR 1 Month + 1.18%), 6.50%, 09/15/2034 (e) (aa)		500		491
AREIT Trust, (Cayman Islands),
Series 2021-CRE5, Class A, (CME Term SOFR 1 Month + 1.19%), 11/17/2038 (e) (aa)		399		395
Series 2022-CRE6, Class A, (United States 30 Day Average SOFR + 1.25%), 01/20/2037 (e) (aa)		805		797
Ashford Hospitality Trust, Series 2018-KEYS, Class A, (CME Term SOFR 1 Month + 1.17%), 6.50%, 06/15/2035 (e) (aa)		234		232
BAMLL Commercial Mortgage Securities Trust, Series 2019-RLJ, Class A, (CME Term SOFR 1 Month + 1.10%), 6.42%, 04/15/2036 (e) (aa)		400		400
BDS LLC, Series 2022-FL12, Class A, (CME Term SOFR 1 Month + 2.14%), 7.46%, 08/19/2038 (e) (aa)		900		903
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.69%, 09/15/2036 (e) (aa)		500		475
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class ASB, 3.09%, 05/10/2058		359		351
Citigroup Commercial Mortgage Trust, Series 2021-KEYS, Class A, (CME Term SOFR 1 Month + 1.29%), 6.62%, 10/15/2036 (e) (aa)		900		893
MF1X, Series 2021-W10, Class A, (CME Term SOFR 1 Month + 1.07%), 6.40%, 12/15/2034 (e) (aa)		900		893
Morgan Stanley Capital I Trust, Series 2019-PLND, Class A, (CME Term SOFR 1 Month + 1.11%), 6.44%, 05/15/2036 (e) (aa)		700		661
Natixis Commercial Mortgage Securities Trust, Series 2022-RRI, Class A, (CME Term SOFR 1 Month + 1.82%), 7.15%, 03/15/2035 (e) (aa)		681		681
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		1,004
SREIT Trust, Series 2021-IND, Class A, (CME Term SOFR 1 Month + 0.81%), 6.14%, 10/15/2038 (e) (aa)		100		99
VMC Finance LLC, Series 2021-FL4, Class A, (CME Term SOFR 1 Month + 1.21%), 6.54%, 06/16/2036 (e) (aa)		119		116
Total Commercial Mortgage-Backed Securities (Cost $8,552)				8,391

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 14.4%
Communications — 0.2%
Telecommunications — 0.2%
Rogers Communications, Inc., (Canada), 2.95%, 03/15/2025		1,200		1,170
Consumer Cyclical — 1.7%
Auto Manufacturers — 1.4%
American Honda Finance Corp., (United States SOFR + 0.55%), 5.90%, 02/12/2025 (aa)		2,100		2,104
Ford Motor Credit Co. LLC,
2.30%, 02/10/2025		600		582
5.80%, 03/05/2027		1,450		1,455
General Motors Financial Co., Inc., 3.50%, 11/07/2024		2,500		2,467
Hyundai Capital America,
1.00%, 09/17/2024 (e)		1,100		1,076
(United States SOFR + 1.15%), 6.50%, 08/04/2025 (e) (aa)		200		201
Nissan Motor Co. Ltd., (Japan), 3.52%, 09/17/2025 (e)		700		675
Volkswagen Group of America Finance LLC, (United States SOFR + 0.93%), 6.29%, 09/12/2025 (e) (aa)		1,500		1,505
				10,065
Entertainment — 0.2%
Warnermedia Holdings, Inc., 3.64%, 03/15/2025		1,200		1,177
Lodging — 0.1%
Hyatt Hotels Corp., 1.80%, 10/01/2024		600		587
Total Consumer Cyclical				11,829
Consumer Non-cyclical — 1.7%
Agriculture — 0.4%
BAT Capital Corp., 3.22%, 08/15/2024		696		689
Imperial Brands Finance plc, (United Kingdom), 3.13%, 07/26/2024 (e)		2,400		2,379
				3,068
Beverages — 0.1%
JDE Peet’s NV, (Netherlands), 0.80%, 09/24/2024 (e)		400		390
Commercial Services — 0.4%
Global Payments, Inc., 1.50%, 11/15/2024		2,000		1,949
Transurban Queensland Finance Pty Ltd., (Australia), Reg. S, (BBSW ASX Australian 3 Month + 2.05%), 6.40%, 12/16/2024 (aa)	AUD	1,000		656
				2,605
Cosmetics/Personal Care — 0.1%
Haleon UK Capital plc, (United Kingdom), 3.13%, 03/24/2025		1,000		976
Healthcare - Products — 0.3%
Baxter International, Inc.,
1.32%, 11/29/2024		500		486
(SOFR Compounded Index + 0.44%), 5.80%, 11/29/2024 (aa)		1,900		1,900
				2,386
Healthcare - Services — 0.1%
HCA, Inc., 5.25%, 04/15/2025		1,100		1,096

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.3%
Bayer US Finance II LLC, 4.25%, 12/15/2025 (e)		2,000		1,950
Total Consumer Non-cyclical				12,471
Energy — 0.5%
Pipelines — 0.5%
Midwest Connector Capital Co. LLC, 3.90%, 04/01/2024 (e)		1,000		1,000
Sabine Pass Liquefaction LLC, 5.63%, 03/01/2025		2,400		2,398
Total Energy				3,398
Financial — 7.9%
Banks — 6.5%
Aozora Bank Ltd., (Japan), Reg. S, 1.05%, 09/09/2024		1,100		1,069
Banco Santander SA, (Spain), 3.89%, 05/24/2024		453		452
Bank of America Corp.,
(Canada Bankers Acceptances 3 Month + 0.90%), 2.93%, 04/25/2025 (aa)	CAD	1,200		885
(United States SOFR + 1.10%), 6.45%, 04/25/2025 (aa)		600		600
Banque Federative du Credit Mutuel SA, (France),
Reg. S, 1.00%, 02/04/2025		600		578
Reg. S, (SOFR Compounded Index + 0.41%), 5.76%, 02/04/2025 (aa)		500		500
5.90%, 07/13/2026 (e)		1,500		1,520
Barclays plc, (United Kingdom), (ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa)		1,800		1,796
BPCE SA, (France), Reg. S, (United States SOFR + 0.57%), 5.92%, 01/14/2025 (aa)		800		801
Citibank NA, (SOFR Compounded Index + 1.06%), 6.42%, 12/04/2026 (aa)		1,200		1,216
Citigroup, Inc., (United States SOFR + 0.67%), 6.02%, 05/01/2025 (f) (aa)		800		800
Credit Suisse AG, (Switzerland), 3.63%, 09/09/2024		600		594
Deutsche Bank AG, (Germany),
3.70%, 05/30/2024		2,000		1,992
(United States SOFR + 2.58%), 3.96%, 11/26/2025 (aa)		500		493
DNB Bank ASA, (Norway), (SOFR Compounded Index + 1.95%), 5.90%, 10/09/2026 (e) (aa)		700		703
Federation des Caisses Desjardins du Quebec, (Canada), 2.05%, 02/10/2025 (e)		500		485
First Abu Dhabi Bank PJSC, (United Arab Emirates), (BBSW ASX Australian 3 Month + 1.10%), 5.43%, 02/18/2025 (aa)	AUD	700		456
Goldman Sachs Group, Inc. (The),
(United States SOFR + 0.49%), 5.84%, 10/21/2024 (aa)		300		300
Reg. S, (BBSW ASX Australian 3 Month + 1.55%), 5.87%, 05/02/2024 (aa)	AUD	500		326
(CME Term SOFR 3 Month + 1.43%), 6.74%, 05/15/2026 (aa)		1,000		1,009
HSBC Holdings plc, (United Kingdom), (United States SOFR + 1.51%), 4.18%, 12/09/2025 (aa)		1,200		1,186
ING Groep NV, (Netherlands),
3.55%, 04/09/2024		700		700
(SOFR Compounded Index + 1.64%), 7.01%, 03/28/2026 (aa)		1,300		1,313
Lloyds Banking Group plc, (United Kingdom),
(CMT Index 1 Year + 1.00%), 2.44%, 02/05/2026 (aa)		500		486
4.45%, 05/08/2025		2,100		2,075
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		1,000		996
(United States SOFR + 0.94%), 6.29%, 02/20/2026 (aa)		530		531
(United States SOFR + 1.39%), 6.75%, 09/12/2025 (aa)		400		402
(United States SOFR + 1.44%), 6.79%, 04/17/2026 (aa)		500		504

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Mizuho Financial Group, Inc., (Japan), (CME Term SOFR 3 Month + 1.24%), 2.84%, 07/16/2025 (aa)		1,000		992
Morgan Stanley, (United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa)		2,100		2,098
NatWest Markets plc, (United Kingdom), 3.48%, 03/22/2025 (e)		1,000		981
Nordea Bank Abp, (Finland), (United States SOFR + 0.96%), 6.32%, 06/06/2025 (e) (aa)		725		730
Oversea-Chinese Banking Corp. Ltd., (Singapore), (BBSW ASX Australian 3 Month + 0.26%), 4.61%, 08/12/2024 (aa)	AUD	1,000		652
Santander Holdings USA, Inc., 3.45%, 06/02/2025		1,500		1,458
Skandinaviska Enskilda Banken AB, (Sweden), 1.40%, 11/19/2025 (e)		2,100		1,975
Societe Generale SA, (France),
2.63%, 10/16/2024 (e)		300		295
(United States SOFR + 1.05%), 6.40%, 01/21/2026 (e) (aa)		800		801
Reg. S, (United States SOFR + 1.05%), 6.40%, 01/21/2026 (aa)		800		801
Standard Chartered plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.56%), 3.79%, 05/21/2025 (e) (aa)		1,700		1,694
Reg. S, (United States SOFR + 0.93%), 6.29%, 11/23/2025 (aa)		400		400
(CMT Index 1 Year + 3.10%), 7.78%, 11/16/2025 (e) (aa)		400		404
Sumitomo Mitsui Financial Group, Inc., (Japan), Reg. S, (BBSW ASX Australian 3 Month + 1.25%), 5.60%, 10/16/2024 (aa)	AUD	2,400		1,567
Sumitomo Mitsui Trust Bank Ltd., (Japan), 0.80%, 09/16/2024 (e)		400		391
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e)		2,900		2,939
UBS AG, (Switzerland), Reg. S, (BBSW ASX Australian 3 Month + 0.87%), 5.21%, 07/30/2025 (aa)	AUD	2,200		1,430
Wells Fargo & Co.,
(CME Term SOFR 3 Month + 1.09%), 2.41%, 10/30/2025 (aa)		900		883
(United States SOFR + 1.32%), 6.67%, 04/25/2026 (aa)		1,200		1,210
				46,469
Diversified Financial Services — 1.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland),
1.65%, 10/29/2024		1,200		1,170
3.50%, 01/15/2025		600		590
Ally Financial, Inc., 5.13%, 09/30/2024		2,000		1,992
Avolon Holdings Funding Ltd., (Cayman Islands), 3.95%, 07/01/2024 (e)		1,100		1,094
LeasePlan Corp. NV, (Netherlands), 2.88%, 10/24/2024 (e)		1,500		1,476
Mitsubishi HC Capital, Inc., (Japan), 3.64%, 04/13/2025 (e)		570		558
Nomura Holdings, Inc., (Japan), 1.85%, 07/16/2025		2,300		2,191
ORIX Corp., (Japan), 3.25%, 12/04/2024		400		394
				9,465
Insurance — 0.1%
Jackson National Life Global Funding, (United States SOFR + 1.15%), 6.52%, 06/28/2024 (e) (aa)		500		501
Total Financial				56,435
Industrial — 0.8%
Electronics — 0.3%
Arrow Electronics, Inc., 3.25%, 09/08/2024		1,843		1,822

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.3%
Sydney Airport Finance Co. Pty Ltd., (Australia), Reg. S, 3.63%, 04/28/2026		2,100		2,025
Packaging & Containers — 0.2%
Berry Global, Inc., 4.88%, 07/15/2026 (e)		1,600		1,568
Total Industrial				5,415
Technology — 0.5%
Semiconductors — 0.4%
Broadcom, Inc., 3.63%, 10/15/2024		1,100		1,088
Renesas Electronics Corp., (Japan), 1.54%, 11/26/2024 (e)		1,800		1,747
				2,835
Software — 0.1%
VMware LLC, 1.00%, 08/15/2024		800		786
Total Technology				3,621
Utilities — 1.1%
Electric — 1.1%
Black Hills Corp., 1.04%, 08/23/2024		1,500		1,473
Enel Finance International NV, (Netherlands),
2.65%, 09/10/2024 (e)		1,800		1,775
4.25%, 06/15/2025 (e)		300		295
Israel Electric Corp. Ltd., (Israel), Series 6, Reg. S, 5.00%, 11/12/2024 (e)		2,100		2,085
Kansai Electric Power Co., Inc. (The), (Japan), Reg. S, 2.55%, 09/17/2024		1,800		1,770
Korea Southern Power Co. Ltd., (South Korea), (BBSW ASX Australian 3 Month + 0.97%), 5.31%, 10/30/2024 (aa)	AUD	600		391
Niagara Mohawk Power Corp., 3.51%, 10/01/2024 (e)		129		127
Total Utilities				7,916
Total Corporate Bonds (Cost $102,914)				102,255
Foreign Government Securities — 0.2%
Export-Import Bank of Korea, (South Korea), 4.88%, 01/11/2026		800		800
International Bank for Reconstruction & Development, (Supranational), 0.65%, 02/10/2026		1,000		926
Total Foreign Government Securities (Cost $1,798)				1,726
Municipal Bonds — 69.6% (t)
Alabama — 0.2%
County of Jefferson Sewer Revenue, Warrants, Rev., 5.00%, 10/01/2026		1,250		1,299
Alaska — 0.5%
Alaska Housing Finance Corp., Home Mortgage, Series B, Rev., VRDO, 3.65%, 04/04/2024 (z)		2,300		2,300
Alaska Municipal Bond Bank Authority, Series 4, Rev., AMT, 5.00%, 12/01/2024		1,215		1,221
				3,521
Arizona — 1.8%
Arizona State University, Series A, Rev., VRDO, 3.60%, 04/04/2024 (z)		12,475		12,475

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 1.9%
California State Public Works Board, Various Capital Projects, Rev., 5.00%, 12/01/2025		7,000		7,225
City of Los Angeles Department of Airports, Green Bonds Subordinated, Rev., AMT, 5.00%, 05/15/2025		750		762
City of Los Angeles Department of Airports, Senior Bonds Green Bond Project, Rev., AMT, 5.00%, 05/15/2025		2,475		2,514
San Francisco City & County Airport Commission International Airport, Revenue Refunding, Second Series, Series A, Rev., AMT, 5.00%, 05/01/2025		3,000		3,044
				13,545
Connecticut — 1.0%
Connecticut Housing Finance Authority, Series B3, Rev., VRDO, 3.62%, 04/04/2024 (z)		5,680		5,680
State of Connecticut Special Tax Revenue, Series D, Rev., 5.00%, 11/01/2025		1,250		1,285
				6,965
District of Columbia — 2.8%
District of Columbia, Rev., VRDO, LOC: Wells Fargo Bank NA, 3.65%, 04/04/2024 (z)		2,325		2,325
Metropolitan Washington Airports Authority Aviation Revenue,
Rev., AMT, 5.00%, 10/01/2025		9,425		9,614
Series A, Rev., AMT, 5.00%, 10/01/2025		1,665		1,698
Series A, Rev., AMT, 5.00%, 10/01/2026		2,805		2,908
Series B, Rev., 5.00%, 10/01/2025		1,030		1,058
Washington Metropolitan Area Transit Authority Dedicated Revenue, Sustainability Financed Bond,
Rev., 5.00%, 07/15/2025		1,250		1,277
Rev., 5.00%, 07/15/2026		1,250		1,304
				20,184
Florida — 5.0%
Citizens Property Insurance, Inc., Series A1, Rev., 5.00%, 06/01/2025 (p)		1,000		1,008
City of Jacksonville, Series B, Rev., 5.00%, 10/01/2025		1,250		1,284
County of Miami-Dade Seaport Department, Senior Bonds, Series A, Rev., AMT, 5.00%, 10/01/2025		1,500		1,527
Highlands County Health Facilities Authority, Adventist Health System/Sunbelt Obligated Group, Series A, Rev., VRDO, 3.64%, 04/04/2024 (z)		2,800		2,800
JEA Water & Sewer System Revenue, Series B1, Rev., VRDO, 3.93%, 04/04/2024 (z)		8,385		8,385
JEA Water & Sewer System Revenue, Subordinate, Series A1, Rev., VRDO, 4.50%, 04/01/2024 (z)		1,385		1,385
Orlando Utilities Commission, Series 1, Rev., VRDO, 3.78%, 04/04/2024 (z)		15,500		15,500
Sarasota County School Board, Master Lease Program, COP, 5.00%, 07/01/2026		1,250		1,302
State of Florida Lottery Revenue, Lottery, Series A, Rev., 5.00%, 07/01/2025		2,000		2,043
				35,234
Georgia — 0.4%
City of Atlanta GA Department of Aviation, Series C, Rev., AMT, 5.00%, 07/01/2024		615		616
Main Street Natural Gas, Inc., Series A, Rev., 5.00%, 06/01/2025		700		704
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project,
Rev., AGM, 5.00%, 07/01/2025		550		560
Private Colleges & Universities Authority, Emory University, Series B, Rev., 5.00%, 09/01/2025		1,020		1,046
				2,926
Guam — 0.1%
Guam Government Waterworks Authority,
Series A, Rev., 5.00%, 07/01/2025		350		356
Series A, Rev., 5.00%, 07/01/2026		350		363
				719

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 2.7%
Chicago Midway International Airport, Senior, Series C, Rev., AMT, 5.00%, 01/01/2026		3,000		3,064
Chicago O’Hare International Airport, Senior Lien Ohare International, Rev., AMT, 5.00%, 01/01/2026		3,500		3,571
County of Cook, Series A, GO, 5.00%, 11/15/2024		5,000		5,035
Illinois Finance Authority, The Catherine Cook School Project, Rev., VRDO, LOC: Northern Trust Co., 3.75%, 04/04/2024 (z)		1,770		1,770
Sales Tax Securitization Corp., Rev., 5.00%, 01/01/2025		3,250		3,283
State of Illinois, Series D, GO, 5.00%, 07/01/2025		2,600		2,649
				19,372
Indiana — 1.0%
Indiana Finance Authority, Health Systems, Sisters of St. Francis, Series I, Rev., VRDO, LOC: Barclays Bank plc, 4.45%, 04/01/2024 (z)		6,000		6,000
Indiana Municipal Power Agency, Series B, Rev., VRDO, LOC: U.S. Bank NA, 4.50%, 04/01/2024 (z)		1,300		1,300
				7,300
Kansas — 0.3%
Johnson County Unified School District No. 512 Shawnee Mission, Series A, GO, 5.00%, 10/01/2025		1,935		1,984
Louisiana — 2.3%
Louisiana State Citizens Property Insurance Corp., Series A, Rev., 5.00%, 06/01/2026		16,000		16,575
Massachusetts — 1.7%
Commonwealth of Massachusetts, Series A, GO, 5.00%, 01/01/2025		2,000		2,024
Massachusetts Development Finance Agency, Partners Healthcare System, Inc., Series K1, Rev., VRDO, 3.64%, 04/04/2024 (z)		5,700		5,700
Massachusetts Educational Financing Authority, Senior Issue M, Series B, Rev., AMT, 5.00%, 07/01/2026		4,000		4,091
				11,815
Michigan — 0.8%
Michigan State Building Authority, Facilities Program, Series II, Rev., 5.00%, 10/15/2025		5,500		5,645
Minnesota — 2.4%
City of Rochester MN,
Series A, Rev., VRDO, 3.66%, 04/04/2024 (z)		13,000		13,000
Series B, Rev., VRDO, 3.66%, 04/04/2024 (z)		3,900		3,900
				16,900
Missouri — 1.3%
City of Kansas City, Series A, GO, 5.00%, 02/01/2026		900		933
City of St Louis Airport Revenue, Series A, Rev., AGM, 5.00%, 07/01/2024		2,000		2,005
Health & Educational Facilities Authority of the State of Missouri, Series F, Rev., VRDO, 4.45%, 04/01/2024 (z)		6,000		6,000
				8,938
New Hampshire — 0.2%
New Hampshire Health and Education Facilities Authority Act, Bishop Guertin High School, Rev., VRDO, LOC: TD Bank NA, 3.65%, 04/04/2024 (z)		1,730		1,730

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 3.3%
Jersey City Redevelopment Agency, Bayfront Redevelopment Project, Rev., 4.00%, 12/15/2024		5,350		5,361
New Jersey Economic Development Authority, Rev., 5.00%, 03/01/2026		500		516
New Jersey Educational Facilities Authority, Montclair State University,
Rev., AGM, 5.00%, 07/01/2025 (w)		1,690		1,725
Rev., AGM, 5.00%, 07/01/2026 (w)		1,000		1,041
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated Group, Rev., 5.00%, 07/01/2024		6,930		6,948
New Jersey Higher Education Student Assistance Authority, Senior, Series A, Rev., AMT, 5.00%, 12/01/2025		575		585
New Jersey Transportation Trust Fund Authority, Series A, Rev., 5.00%, 06/15/2025		2,025		2,061
State of New Jersey, Covid 19 Go Emergency Bonds, GO, 5.00%, 06/01/2025		5,320		5,416
				23,653
New Mexico — 2.1%
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 5.00%, 09/01/2024		6,750		6,774
New Mexico Finance Authority, Subordinate, Series A, Rev., 5.00%, 06/15/2025		2,795		2,852
University of New Mexico (The), System Improvement, Rev., VRDO, 3.65%, 04/04/2024 (z)		5,435		5,435
				15,061
New York — 9.7%
City of New York NY, Series B, GO, VRDO, 4.45%, 04/01/2024 (z)		8,500		8,500
City of New York, Fiscal Year 2017, Series A4, GO, VRDO, LOC: Citibank NA, 3.93%, 04/04/2024 (z)		1,090		1,090
City of New York, Fiscal Year 2018, Series B5, GO, VRDO, 4.45%, 04/01/2024 (z)		22,275		22,275
New York City Municipal Water Finance Authority, Second General Resolution,
Rev., VRDO, 4.40%, 04/01/2024 (z)		5,225		5,225
Rev., VRDO, 4.50%, 04/01/2024 (z)		1,500		1,500
Rev., VRDO, 4.53%, 04/01/2024 (z)		1,000		1,000
New York City Transitional Finance Authority Future Tax Secured Revenue, Series B5, Rev., VRDO, 4.50%, 04/01/2024 (z)		7,000		7,000
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinated, Series E1, Rev., 5.00%, 11/01/2025		7,000		7,211
Port Authority of New York & New Jersey,
Series 207, Rev., AMT, 5.00%, 09/15/2024		3,000		3,013
Series 242, Rev., AMT, 5.00%, 12/01/2025		5,000		5,095
Triborough Bridge & Tunnel Authority, MTA Bridges And Tunnels, Rev., 5.00%, 11/15/2025		6,455		6,644
				68,553
Ohio — 7.4%
County of Franklin, Facilities, OhioHealth Corp., Series D, Rev., VRDO, LOC: Northern Trust Co., 3.63%, 04/04/2024 (z)		1,700		1,700
Ohio Higher Educational Facility Commission, Hospital, Cleveland Clinic Health System Obligated Group, Series B3, Rev., VRDO, 4.50%, 04/01/2024 (z)		5,000		5,000
Ohio State University (The), Multiyear Debt Issuance,
Rev., VRDO, 3.65%, 04/04/2024 (z)		10,000		10,000
Rev., VRDO, 3.68%, 04/04/2024 (z)		11,600		11,600
Ohio Water Development Authority, Water Pollution Control Loan Fund, Series A, Rev., VRDO, 3.55%, 04/04/2024 (z)		10,000		10,000
State of Ohio, Cleveland Clinic Health System, Rev., VRDO, 3.62%, 04/04/2024 (z)		14,000		14,000
				52,300

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.5%
Oklahoma Municipal Power Authority, Power Supply System, Series A, Rev., AGM, 5.00%, 01/01/2026		3,500		3,601
Oregon — 0.5%
Portland Community College District, GO, 5.00%, 06/15/2025		3,235		3,302
Pennsylvania — 3.9%
City of Philadelphia Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2026		2,500		2,575
City of Philadelphia Airport Revenue, Private Activity, Rev., AMT, 5.00%, 07/01/2026		9,755		10,047
City of Philadelphia Water & Wastewater Revenue,
Series B, Rev., AGM, 5.00%, 09/01/2026		2,550		2,667
Series C, Rev., 5.00%, 06/01/2025		1,355		1,381
Northampton County General Purpose Authority, St. Luke’s University Health Network,
Rev., 5.00%, 08/15/2025 (w)		5,565		5,685
Rev., 5.00%, 08/15/2026 (w)		5,000		5,204
				27,559
Texas — 8.8%
Austin Independent School District, GO, 5.00%, 08/01/2025		4,500		4,604
Board of Regents of the University of Texas System, Financing System, Series B, Rev., VRDO, LIQ: University of Texas Investment Management Co. (The), 3.60%, 04/04/2024 (z)		16,000		16,000
City of Garland Electric Utility System Revenue, Series A, Rev., 5.00%, 03/01/2025		2,190		2,218
City of Houston Combined Utility System Revenue, Combined First Lien, Rev., VRDO, 3.97%, 04/04/2024 (z)		12,380		12,380
City of Houston Combined Utility System Revenue, Rev., VRDO, (SIFMA Municipal Swap Index + 0.01%), 3.97%, 04/04/2024 (aa)		6,000		6,000
City of Wichita Falls Water & Sewer System Revenue, Rev., 5.00%, 08/01/2024		1,540		1,547
Clifton Higher Education Finance Corp., International Leadership of Texas, Incorporate,
Rev., PSF-GTD, 5.00%, 08/15/2025		1,385		1,414
Rev., PSF-GTD, 5.00%, 08/15/2026		1,000		1,039
Cypress-Fairbanks Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2025		2,140		2,170
Fort Worth Independent School District, Series A, GO, PSF-GTD, 5.00%, 02/15/2025		1,150		1,166
Plano Independent School District, GO, 5.00%, 02/15/2025		3,600		3,650
San Antonio Independent School District, GO, PSF-GTD, 5.00%, 08/15/2024		1,375		1,381
State of Texas, Transportation Commission Highway, GO, 5.00%, 04/01/2025		3,000		3,051
Texas A&M University, Financing System, Series E, Rev., 5.00%, 05/15/2025		3,000		3,055
Texas Public Finance Authority, Rev., 5.00%, 02/01/2025		2,980		3,015
				62,690
Utah — 1.1%
City of Salt Lake City Public Utilities Revenue, Rev., 5.00%, 02/01/2025		1,550		1,570
State of Utah, GO, 5.00%, 07/01/2026		5,000		5,222
University of Utah, Green Bonds, Series A, Rev., 5.00%, 08/01/2025		925		947
				7,739

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 2.1%
Norfolk Economic Development Authority, Sentara Healthcare Obligated Group,
Series A, Rev., VRDO, 3.55%, 04/04/2024 (z)		6,300		6,300
Series B, Rev., VRDO, 3.70%, 04/04/2024 (z)		8,835		8,835
				15,135
Washington — 3.8%
Central Puget Sound Regional Transit Authority, Green Bonds, Series S1, Rev., 5.00%, 11/01/2025		5,000		5,147
Chelan County Public Utility District No. 1, Series B, Rev., VRDO, 3.65%, 04/04/2024 (z)		13,160		13,160
Port of Seattle, Intermediate Lien, Rev., AMT, 5.00%, 08/01/2025		1,735		1,761
Port of Seattle, Private Activity, Rev., AMT, 5.00%, 09/01/2025		6,885		7,013
				27,081
Total Municipal Bonds (Cost $494,788)				493,801
U.S. Government Agency Securities — 0.6%
FHLB, 5.50%, 02/20/2026		2,200		2,200
FHLMC, 5.70%, 03/06/2026		2,200		2,200
Total U.S. Government Agency Securities (Cost $4,400)				4,400
Short-Term Investments — 3.7%
Commercial Papers — 1.3%
Dominion Energy, Inc., 5.63%, 04/23/2024 (e) (n)		500		498
Eversource Energy, 5.58%, 04/03/2024 (e) (n)		2,100		2,098
L3Harris Technologies, Inc.,
5.54%, 04/15/2024 (e) (n)		1,000		997
5.54%, 04/17/2024 (e) (n)		700		698
5.54%, 04/18/2024 (e) (n)		400		399
Microchip Technology, Inc., 5.54%, 04/30/2024 (e) (n)		2,100		2,089
Phillips 66, 5.56%, 04/02/2024 (e) (n)		2,100		2,099
Total Commercial Papers				8,878
Municipal Bonds — 1.5% (t)
City of Atlanta Airport Passenger Facility Charge, Subordinated Lien, Rev., AMT, 5.00%, 07/01/2024		925		927
Pennsylvania Economic Development Financing Authority Parking System Revenue, Junior Insured Capitol, Rev., AGM, 5.00%, 01/01/2025		2,000		2,013
The Monmouth County Improvement Authority, Government Pooled Loan Project, Rev., CNTY GTD, 4.00%, 03/14/2025		8,000		8,044
Total Municipal Bonds				10,984
Repurchase Agreement — 0.6%
BNP Paribas Securities Corp., 5.38%, dated 03/28/2024 due 04/01/2024, repurchase price $3,902 collateralized by U.S. Treasury Security, 2.25%, due 11/15/2025, with a value of $3,979.		3,900		3,900
Time Deposits — 0.3%
Australia & New Zealand Banking Group Ltd., 4.68%, 03/29/2024		13		13
BNP Paribas SA, 3.79%, 04/01/2024	CAD	152		112
Citibank NA, 2.85%, 04/02/2024	EUR	8		9
Royal Bank of Canada, 4.15%, 04/02/2024	GBP	66		83

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Sumitomo Mitsui Banking Corp.,
(0.25%), 03/29/2024	JPY	35		—	(h)
4.68%, 03/29/2024		1,945		1,945
Total Time Deposits				2,162
U.S. Treasury Obligation — 0.0% (g)
U.S. Treasury Bill, 5.30%, 06/20/2024 (n) (ii)		135		133
Total Short-Term Investments (Cost $26,082)				26,057
Total Investments — 101.5% (Cost—$722,875)*				720,254
Liabilities in Excess of Other Assets — (1.5)%				(10,510	)
NET ASSETS — 100.0%			$	709,744

Percentages indicated are based on net assets. 

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Futures contracts outstanding as of March 31, 2024:

Exchange Traded

DESCRIPTION	NUMBER OF CONTRACTS			EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT ($)			VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($)
Long Contracts
10 Year Commonwealth Treasury Bond		89			06/2024		AUD		6,763			(2	)
U.S. Treasury 2 Year Note		102			06/2024		USD		20,870			(13	)
U.S. Treasury 5 Year Note		170			06/2024		USD		18,169			24
												9
Short Contracts
SOFR 3 Month		(54	)		06/2026		USD		(13,071	)		61
U.S. Treasury 10 Year Note		(33	)		06/2024		USD		(3,631	)		(25	)
U.S. Treasury Ultra Bond		(13	)		06/2024		USD		(1,631	)		(46	)
U.S. Ultra Treasury 10 Year Note		(91	)		06/2024		USD		(10,397	)		(32	)
												(42	)
Total unrealized appreciation (depreciation)												(33	)

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024:

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE		UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	385	AUD	590	Morgan Stanley & Co.		04/02/2024		1
CAD	136	USD	100	Morgan Stanley & Co.		04/02/2024		—	(h)
USD	2,868	GBP	2,269	Bank of America, NA		04/02/2024		4
USD	2,674	GBP	2,108	Bank of America, NA		04/02/2024		14
GBP	8,677	USD	10,939	Barclays Bank plc		04/02/2024		13
USD	987	JPY	149,100	Deutsche Bank AG		04/02/2024		2
USD	2,991	AUD	4,562	Bank of America, NA		05/02/2024		15
USD	3,442	GBP	2,722	Barclays Bank plc		05/02/2024		6
Total unrealized appreciation								55
AUD	4,562	USD	2,988	Bank of America, NA		04/02/2024		(15	)
USD	5,962	AUD	9,175	Barclays Bank plc		04/02/2024		(17	)
AUD	823	USD	544	Deutsche Bank AG		04/02/2024		(8	)
AUD	480	USD	315	Deutsche Bank AG		04/02/2024		(2	)
USD	2,431	CAD	3,301	Morgan Stanley & Co.		04/02/2024		(6	)
USD	8,859	GBP	7,021	Morgan Stanley & Co.		04/02/2024		(3	)
JPY	150,072	USD	1,001	Morgan Stanley & Co.		04/02/2024		(9	)
USD	2,534	AUD	3,900	Barclays Bank plc		05/02/2024		(9	)
Total unrealized depreciation								(69	)
Net unrealized appreciation (depreciation)								(14	)

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 MARCH 31, 2024
ASX	—	Australian Stock Exchange
AGM	—	Insured by Assured Guaranty Municipal Corp.
AMT	—	Alternative Minimum Tax
BBSW	—	Bank Bill Swap Rate
CMT	—	Constant Maturity Treasury
COP	—	Certificate of Participation
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
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 March 31, 2024.
VRDO	—	Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of March 31, 2024.
(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 March 31, 2024.
(p)	—	Security is prerefunded or escrowed to maturity.

Six Circles Tax Aware Ultra Short Duration Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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)

(t)	—	The date shown represents the earliest of the prerefunded date, 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 March 31, 2024.
(aa)	—	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of March 31, 2024.
(ii)	—	Approximately $13 of these investments are restricted as collateral for forwards to Barclays Bank PLC.
*	—	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
USD	—	United States Dollar

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks — 99.2%
Basic Materials — 0.7%
Chemicals — 0.5%
Air Products & Chemicals, Inc.		41		9,985
Albemarle Corp.		23		3,072
Celanese Corp., Class A		17		3,001
CF Industries Holdings, Inc.		39		3,258
Dow, Inc.		155		9,007
DuPont de Nemours, Inc.		89		6,834
Eastman Chemical Co.		17		1,668
Ecolab, Inc.		45		10,500
FMC Corp.		26		1,641
International Flavors & Fragrances, Inc.		42		3,646
Linde plc		93		43,131
LyondellBasell Industries NV, Class A		63		6,474
Mosaic Co. (The)		83		2,686
PPG Industries, Inc.		41		5,877
RPM International, Inc.		17		2,041
Sherwin-Williams Co. (The)		43		14,775
Westlake Corp.		8		1,208
				128,804
Forest Products & Paper — 0.0% (g)
International Paper Co.		106		4,152
Iron/Steel — 0.1%
Cleveland-Cliffs, Inc. (a)		77		1,757
Nucor Corp.		46		9,139
Reliance, Inc.		8		2,826
Steel Dynamics, Inc.		27		4,022
				17,744
Mining — 0.1%
Freeport-McMoRan, Inc.		239		11,252
Newmont Corp.		192		6,892
				18,144
Total Basic Materials				168,844
Communications — 16.0%
Advertising — 0.1%
Interpublic Group of Cos., Inc. (The)		111		3,634
Omnicom Group, Inc.		51		4,949
Trade Desk, Inc. (The), Class A (a)		85		7,442
				16,025
Internet — 14.4%
Airbnb, Inc., Class A (a)		78		12,877
Alphabet, Inc., Class A (a)		2,903		438,215
Alphabet, Inc., Class C (a)		2,617		398,492

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — continued
Amazon.com, Inc. (a)		6,791		1,224,985
Booking Holdings, Inc.		7		24,601
CDW Corp.		65		16,572
DoorDash, Inc., Class A (a)		46		6,353
eBay, Inc.		91		4,787
Etsy, Inc. (a)		24		1,622
Expedia Group, Inc. (a)		31		4,289
F5, Inc. (a)		23		4,454
Gen Digital, Inc.		349		7,820
GoDaddy, Inc., Class A (a)		18		2,155
Match Group, Inc. (a)		86		3,102
MercadoLibre, Inc., (Uruguay) (a)		8		12,663
Meta Platforms, Inc., Class A		1,616		784,536
Netflix, Inc. (a)		84		51,250
Okta, Inc., Class A (a)		30		3,176
Palo Alto Networks, Inc. (a)		190		53,876
Pinterest, Inc., Class A (a)		198		6,861
Robinhood Markets, Inc., Class A (a)		225		4,530
Roku, Inc., Class A (a)		20		1,278
Snap, Inc., Class A (a)		355		4,072
Uber Technologies, Inc. (a)		5,368		413,288
VeriSign, Inc. (a)		11		2,148
Zillow Group, Inc., Class C (a)		30		1,449
				3,489,451
Media — 0.5%
Charter Communications, Inc., Class A (a)		16		4,683
Comcast Corp., Class A		721		31,263
FactSet Research Systems, Inc.		25		11,219
Fox Corp., Class A		81		2,529
Fox Corp., Class B		31		883
Liberty Broadband Corp., Class C (a)		17		1,000
Liberty Global Ltd., (United Kingdom), Class C (a)		38		670
Liberty Media Corp-Liberty Formula One, Class C (a)		44		2,857
Liberty Media Corp-Liberty SiriusXM (a)		28		821
News Corp., Class A		85		2,221
Paramount Global, Class B		150		1,762
Sirius XM Holdings, Inc.		128		497
Walt Disney Co. (The)		353		43,194
Warner Bros Discovery, Inc. (a)		462		4,035
				107,634
Telecommunications — 1.0%
Arista Networks, Inc. (a)		126		36,651
AT&T, Inc.		1,303		22,939
Cisco Systems, Inc.		1,993		99,494
Corning, Inc.		365		12,016
Juniper Networks, Inc.		154		5,690
Motorola Solutions, Inc.		77		27,205
T-Mobile US, Inc.		92		15,029
Verizon Communications, Inc.		777		32,589
				251,613
Total Communications				3,864,723

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Consumer Cyclical — 3.0%
Airlines — 0.0% (g)
Delta Air Lines, Inc.		25			1,204
Southwest Airlines Co.		14			413
					1,617
Apparel — 0.1%
Deckers Outdoor Corp. (a)		4			3,900
NIKE, Inc., Class B		227			21,289
					25,189
Auto Manufacturers — 0.6%
Cummins, Inc.		32			9,314
Ford Motor Co.		778			10,327
General Motors Co.		283			12,838
PACCAR, Inc.		116			14,370
Rivian Automotive, Inc., Class A (a)		105			1,148
Tesla, Inc. (a)		538			94,656
					142,653
Auto Parts & Equipment — 0.0% (g)
Aptiv plc, (Ireland) (a)		49			3,906
BorgWarner, Inc.		57			1,984
Lear Corp.		17			2,398
					8,288
Distribution/Wholesale — 0.2%
Copart, Inc. (a)		142			8,201
Fastenal Co.		106			8,169
Ferguson plc, (United Kingdom)		40			8,813
LKQ Corp.		56			3,010
Pool Corp.		5			2,041
Watsco, Inc.		7			2,924
WW Grainger, Inc.		9			8,672
					41,830
Entertainment — 0.1%
Caesars Entertainment, Inc. (a)		19			838
DraftKings, Inc., Class A (a)		75			3,420
Live Nation Entertainment, Inc. (a)		33			3,470
Vail Resorts, Inc.		10			2,123
					9,851
Home Builders — 0.1%
D.R. Horton, Inc.		50			8,293
Lennar Corp., Class A		46			7,984
NVR, Inc. (a)		—	(h)		3,661
PulteGroup, Inc.		30			3,645
					23,583
Leisure Time — 0.0% (g)
Carnival Corp. (a)		179			2,926
Royal Caribbean Cruises Ltd. (a)		49			6,863
					9,789
Lodging — 0.2%
Hilton Worldwide Holdings, Inc.		56			11,946
Hyatt Hotels Corp., Class A		14			2,306

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Lodging — continued
Las Vegas Sands Corp.		47		2,435
Marriott International, Inc., Class A		53		13,408
MGM Resorts International (a)		64		3,024
Wynn Resorts Ltd.		10		985
				34,104
Retail — 1.7%
AutoZone, Inc. (a)		3		9,392
Bath & Body Works, Inc.		34		1,684
Best Buy Co., Inc.		49		4,033
Burlington Stores, Inc. (a)		10		2,413
CarMax, Inc. (a)		36		3,131
Chipotle Mexican Grill, Inc., Class A (a)		5		15,179
Costco Wholesale Corp.		84		61,684
Darden Restaurants, Inc.		33		5,499
Dick’s Sporting Goods, Inc.		12		2,752
Dollar General Corp.		42		6,598
Dollar Tree, Inc. (a)		41		5,407
Domino’s Pizza, Inc.		5		2,399
Genuine Parts Co.		28		4,329
Home Depot, Inc. (The)		186		71,277
Lowe’s Cos., Inc.		105		26,764
Lululemon Athletica, Inc., (Canada) (a)		21		8,032
McDonald’s Corp.		139		39,325
O’Reilly Automotive, Inc. (a)		10		11,288
Ross Stores, Inc.		60		8,769
Starbucks Corp.		211		19,286
Target Corp.		89		15,798
TJX Cos., Inc. (The)		207		20,998
Tractor Supply Co.		18		4,642
Ulta Beauty, Inc. (a)		8		4,112
Walgreens Boots Alliance, Inc.		151		3,277
Walmart, Inc.		874		52,584
Williams-Sonoma, Inc.		13		4,251
Yum! Brands, Inc.		42		5,872
				420,775
Toys/Games/Hobbies — 0.0% (g)
Hasbro, Inc.		21		1,161
Total Consumer Cyclical				718,840
Consumer Non-cyclical — 19.2%
Agriculture — 0.2%
Altria Group, Inc.		324		14,133
Archer-Daniels-Midland Co.		113		7,069
Bunge Global SA		40		4,131
Darling Ingredients, Inc. (a)		26		1,226
Philip Morris International, Inc.		281		25,787
				52,346
Beverages — 2.2%
Brown-Forman Corp., Class B		130		6,686
Celsius Holdings, Inc. (a)		73		6,051
Coca-Cola Co. (The)		5,225		319,688

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Beverages — continued
Constellation Brands, Inc., Class A		76		20,682
Keurig Dr Pepper, Inc.		517		15,871
Molson Coors Beverage Co., Class B		100		6,713
Monster Beverage Corp. (a)		369		21,881
PepsiCo., Inc.		675		118,063
				515,635
Biotechnology — 0.6%
Alnylam Pharmaceuticals, Inc. (a)		23		3,452
Amgen, Inc.		102		29,140
Biogen, Inc. (a)		29		6,207
BioMarin Pharmaceutical, Inc. (a)		37		3,195
Bio-Rad Laboratories, Inc., Class A (a)		13		4,348
Corteva, Inc.		131		7,567
Gilead Sciences, Inc.		233		17,064
Illumina, Inc. (a)		102		13,984
Incyte Corp. (a)		41		2,355
Moderna, Inc. (a)		62		6,592
Regeneron Pharmaceuticals, Inc. (a)		21		20,423
Royalty Pharma plc, Class A		31		935
United Therapeutics Corp. (a)		11		2,526
Vertex Pharmaceuticals, Inc. (a)		50		20,705
				138,493
Commercial Services — 1.4%
Automatic Data Processing, Inc.		81		20,201
Block, Inc., Class A (a)		333		28,194
Booz Allen Hamilton Holding Corp., Class A		25		3,713
Cintas Corp.		20		13,625
Corpay, Inc. (a)		42		13,065
CoStar Group, Inc. (a)		61		5,860
Equifax, Inc.		27		7,143
Gartner, Inc. (a)		14		6,545
Global Payments, Inc.		157		21,034
MarketAxess Holdings, Inc.		25		5,462
Moody’s Corp.		103		40,446
Paylocity Holding Corp. (a)		7		1,256
PayPal Holdings, Inc. (a)		635		42,536
Quanta Services, Inc.		29		7,562
Robert Half, Inc.		31		2,440
Rollins, Inc.		53		2,469
S&P Global, Inc.		215		91,327
Toast, Inc., Class A (a)		190		4,724
TransUnion		40		3,206
U-Haul Holding Co., Class B		23		1,566
United Rentals, Inc.		14		9,735
Verisk Analytics, Inc., Class A		25		5,911
				338,020
Cosmetics/Personal Care — 0.4%
Colgate-Palmolive Co.		130		11,712
Estee Lauder Cos., Inc. (The), Class A		43		6,695
Kenvue, Inc.		316		6,784

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Cosmetics/Personal Care — continued
Procter & Gamble Co. (The)		458		74,328
				99,519
Food — 0.3%
Albertsons Cos., Inc., Class A		78		1,668
Campbell Soup Co.		45		2,016
Conagra Brands, Inc.		113		3,357
General Mills, Inc.		123		8,615
Hershey Co. (The)		23		4,568
Hormel Foods Corp.		52		1,816
J M Smucker Co. (The)		22		2,717
Kellanova		60		3,449
Kraft Heinz Co. (The)		220		8,125
Kroger Co. (The)		145		8,310
Lamb Weston Holdings, Inc.		18		1,960
McCormick & Co., Inc.		42		3,264
Mondelez International, Inc., Class A		264		18,469
Sysco Corp.		82		6,683
Tyson Foods, Inc., Class A		67		3,924
				78,941
Healthcare - Products — 3.0%
Abbott Laboratories		335		38,092
Agilent Technologies, Inc.		190		27,597
Align Technology, Inc. (a)		14		4,616
Avantor, Inc. (a)		401		10,266
Baxter International, Inc.		98		4,170
Bio-Techne Corp.		98		6,909
Boston Scientific Corp. (a)		270		18,479
Cooper Cos., Inc. (The)		33		3,334
Danaher Corp.		448		111,866
Edwards Lifesciences Corp. (a)		107		10,230
Exact Sciences Corp. (a)		31		2,160
GE HealthCare Technologies, Inc.		79		7,213
Hologic, Inc. (a)		37		2,863
IDEXX Laboratories, Inc. (a)		14		7,475
Insulet Corp. (a)		11		1,865
Intuitive Surgical, Inc. (a)		65		25,971
Medtronic plc, (Ireland)		257		22,389
Repligen Corp. (a)		32		5,850
ResMed, Inc.		24		4,774
Revvity, Inc.		82		8,606
STERIS plc		18		3,953
Stryker Corp.		64		22,896
Teleflex, Inc.		7		1,543
Thermo Fisher Scientific, Inc.		578		335,692
Waters Corp. (a)		36		12,509
West Pharmaceutical Services, Inc.		46		18,091
Zimmer Biomet Holdings, Inc.		34		4,518
				723,927
Healthcare - Services — 3.7%
Catalent, Inc. (a)		143		8,052
Centene Corp. (a)		99		7,777

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 - Services — continued
Charles River Laboratories International, Inc. (a)		34		9,205
DaVita, Inc. (a)		8		1,080
Elevance Health, Inc.		44		22,955
HCA Healthcare, Inc.		37		12,433
Humana, Inc.		23		7,857
IQVIA Holdings, Inc. (a)		118		29,763
Laboratory Corp. of America Holdings		15		3,213
Molina Healthcare, Inc. (a)		10		3,966
Quest Diagnostics, Inc.		16		2,150
UnitedHealth Group, Inc.		1,589		786,146
Universal Health Services, Inc., Class B		10		1,866
				896,463
Household Products/Wares — 0.1%
Avery Dennison Corp.		21		4,681
Church & Dwight Co., Inc.		36		3,761
Clorox Co. (The)		19		2,909
Kimberly-Clark Corp.		58		7,474
				18,825
Pharmaceuticals — 7.3%
AbbVie, Inc.		330		60,151
Becton Dickinson & Co.		54		13,266
Bristol-Myers Squibb Co.		1,694		91,857
Cardinal Health, Inc.		47		5,288
Cencora, Inc.		32		7,826
Cigna Group (The)		56		20,327
CVS Health Corp.		254		20,289
Dexcom, Inc. (a)		71		9,828
Eli Lilly & Co.		665		517,413
Henry Schein, Inc. (a)		21		1,572
Jazz Pharmaceuticals plc (a)		3		386
Johnson & Johnson		2,607		412,399
McKesson Corp.		24		13,124
Merck & Co., Inc.		2,897		382,257
Neurocrine Biosciences, Inc. (a)		16		2,217
Pfizer, Inc.		4,680		129,872
Viatris, Inc.		969		11,568
Zoetis, Inc., Class A		374		63,276
				1,762,916
Total Consumer Non-cyclical				4,625,085
Energy — 4.9%
Energy - Alternate Sources — 0.1%
Enphase Energy, Inc. (a)		67		8,138
First Solar, Inc. (a)		48		8,042
				16,180
Oil & Gas — 2.9%
APA Corp.		176		6,052
Chesapeake Energy Corp.		61		5,442
Chevron Corp.		842		132,770
ConocoPhillips		567		72,150
Coterra Energy, Inc.		351		9,796
Devon Energy Corp.		332		16,682

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Diamondback Energy, Inc.		82		16,284
EOG Resources, Inc.		278		35,504
EQT Corp.		189		7,016
Exxon Mobil Corp.		1,887		219,361
Hess Corp.		120		18,387
HF Sinclair Corp.		116		7,026
Marathon Oil Corp.		282		8,004
Marathon Petroleum Corp.		177		35,714
Occidental Petroleum Corp.		307		19,982
Ovintiv, Inc.		132		6,825
Phillips 66		203		33,146
Pioneer Natural Resources Co.		113		29,708
Texas Pacific Land Corp.		7		4,221
Valero Energy Corp.		159		27,057
				711,127
Oil & Gas Services — 1.6%
Baker Hughes Co., Class A		475		15,910
Halliburton Co.		416		16,397
Schlumberger NV		6,297		345,148
				377,455
Pipelines — 0.3%
Cheniere Energy, Inc.		107		17,188
Kinder Morgan, Inc.		904		16,581
ONEOK, Inc.		263		21,088
Targa Resources Corp.		91		10,147
Williams Cos., Inc. (The)		549		21,410
				86,414
Total Energy				1,191,176
Financial — 19.9%
Banks — 7.8%
Bank of America Corp.		18,281		693,213
Bank of New York Mellon Corp. (The)		628		36,189
Citigroup, Inc.		1,331		84,154
Citizens Financial Group, Inc.		560		20,331
Fifth Third Bancorp		664		24,712
First Citizens BancShares, Inc., Class A		11		17,859
Goldman Sachs Group, Inc. (The)		224		93,393
Huntington Bancshares, Inc.		1,535		21,417
KeyCorp.		1,155		18,266
M&T Bank Corp.		167		24,240
Morgan Stanley		5,268		496,078
Northern Trust Corp.		140		12,424
PNC Financial Services Group, Inc. (The)		306		49,432
Regions Financial Corp.		1,026		21,577
State Street Corp.		258		19,956
Truist Financial Corp.		1,074		41,858
US Bancorp		1,174		52,458
Wells Fargo & Co.		2,398		138,981
				1,866,538
Diversified Financial Services — 4.8%
Ally Financial, Inc.		194		7,880

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — continued
American Express Co.		397		90,318
Ameriprise Financial, Inc.		64		28,099
Apollo Global Management, Inc.		253		28,443
Ares Management Corp., Class A		101		13,490
BlackRock, Inc., Class A		65		54,373
Capital One Financial Corp.		291		43,401
Cboe Global Markets, Inc.		92		16,948
Charles Schwab Corp. (The)		925		66,891
CME Group, Inc., Class A		255		54,967
Coinbase Global, Inc., Class A (a)		104		27,549
Discover Financial Services		226		29,659
Franklin Resources, Inc.		192		5,408
Intercontinental Exchange, Inc.		411		56,489
LPL Financial Holdings, Inc.		51		13,411
Mastercard, Inc., Class A		528		254,263
Nasdaq, Inc.		217		13,705
Raymond James Financial, Inc.		176		22,544
SEI Investments Co.		80		5,725
Synchrony Financial		355		15,303
T Rowe Price Group, Inc.		144		17,600
Tradeweb Markets, Inc., Class A		80		8,377
Visa, Inc., Class A		1,006		280,758
				1,155,601
Insurance — 5.3%
Aflac, Inc.		445		38,185
Allstate Corp. (The)		166		28,750
American Financial Group, Inc.		49		6,696
American International Group, Inc.		519		40,577
Aon plc, Class A		125		41,749
Arch Capital Group Ltd., (Bermuda) (a)		291		26,939
Arthur J Gallagher & Co.		147		36,644
Assurant, Inc.		38		7,198
Berkshire Hathaway, Inc., Class B (a)		829		348,617
Brown & Brown, Inc.		139		12,197
Chubb Ltd., (Switzerland)		271		70,194
Cincinnati Financial Corp.		98		12,209
Equitable Holdings, Inc.		218		8,280
Erie Indemnity Co., Class A		13		5,278
Everest Group Ltd., (Bermuda)		36		14,242
Fidelity National Financial, Inc.		150		7,968
Globe Life, Inc.		120		13,913
Hartford Financial Services Group, Inc. (The)		277		28,575
Loews Corp.		162		12,692
Markel Group, Inc. (a)		9		13,018
Marsh & McLennan Cos., Inc.		318		65,464
MetLife, Inc.		466		34,535
Principal Financial Group, Inc.		239		20,594
Progressive Corp. (The)		1,377		284,791
Prudential Financial, Inc.		287		33,650
Travelers Cos., Inc. (The)		159		36,672
Willis Towers Watson plc, (United Kingdom)		63		17,338

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
WR Berkley Corp.		129		11,385
				1,278,350
Private Equity — 0.4%
Blackstone, Inc.		451		59,278
Carlyle Group, Inc. (The)		142		6,642
KKR & Co., Inc.		350		35,208
				101,128
Real Estate — 0.0% (g)
CBRE Group, Inc., Class A (a)		64		6,235
REITS — 1.6%
Alexandria Real Estate Equities, Inc.		27		3,431
American Homes 4 Rent, Class A		51		1,863
American Tower Corp.		1,057		208,895
Annaly Capital Management, Inc.		273		5,377
AvalonBay Communities, Inc.		28		5,287
Boston Properties, Inc.		27		1,761
Camden Property Trust		12		1,222
Crown Castle, Inc.		82		8,650
Digital Realty Trust, Inc.		58		8,396
Equinix, Inc.		17		14,326
Equity LifeStyle Properties, Inc.		29		1,888
Equity Residential		74		4,651
Essex Property Trust, Inc.		10		2,457
Extra Space Storage, Inc.		40		5,860
Gaming and Leisure Properties, Inc.		39		1,777
Healthpeak Properties, Inc.		169		3,177
Host Hotels & Resorts, Inc.		150		3,101
Invitation Homes, Inc.		104		3,699
Iron Mountain, Inc.		48		3,878
Kimco Realty Corp.		100		1,952
Mid-America Apartment Communities, Inc.		22		2,926
Prologis, Inc.		177		23,032
Public Storage		29		8,341
Realty Income Corp.		171		9,227
Regency Centers Corp.		22		1,342
SBA Communications Corp., Class A		16		3,488
Simon Property Group, Inc.		60		9,430
Sun Communities, Inc.		17		2,204
UDR, Inc.		47		1,762
Ventas, Inc.		67		2,902
VICI Properties, Inc., Class A		201		5,976
Welltower, Inc.		105		9,797
Weyerhaeuser Co.		160		5,755
WP Carey, Inc.		44		2,477
				380,307
Total Financial				4,788,159
Industrial — 6.7%
Aerospace/Defense — 0.5%
Boeing Co. (The) (a)		108		20,892
General Dynamics Corp.		50		14,118

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Aerospace/Defense — continued
HEICO Corp.		4		723
HEICO Corp., Class A		9		1,413
Howmet Aerospace, Inc.		65		4,448
L3Harris Technologies, Inc.		36		7,647
Lockheed Martin Corp.		43		19,549
Northrop Grumman Corp.		28		13,298
RTX Corp.		274		26,712
TransDigm Group, Inc.		10		11,714
				120,514
Building Materials — 0.2%
Builders FirstSource, Inc. (a)		25		5,126
Carrier Global Corp.		156		9,074
Fortune Brands Innovations, Inc.		27		2,287
Johnson Controls International plc, (Ireland)		145		9,457
Lennox International, Inc.		4		2,087
Martin Marietta Materials, Inc.		14		8,571
Masco Corp.		36		2,877
Owens Corning		21		3,583
Trane Technologies plc, (Ireland)		44		13,358
Vulcan Materials Co.		30		8,270
				64,690
Electrical Components & Equipment — 0.2%
AMETEK, Inc.		43		7,830
Eaton Corp. plc		80		24,959
Emerson Electric Co.		114		12,936
				45,725
Electronics — 0.6%
Allegion plc, (Ireland)		7		1,000
Amphenol Corp., Class A		275		31,672
Fortive Corp.		69		5,936
Garmin Ltd., (Switzerland)		24		3,541
Honeywell International, Inc.		129		26,527
Hubbell, Inc., Class B		11		4,483
Jabil, Inc.		62		8,270
Keysight Technologies, Inc. (a)		82		12,793
Mettler-Toledo International, Inc. (a)		13		16,901
TE Connectivity Ltd.		145		21,077
Trimble, Inc. (a)		112		7,224
				139,424
Engineering & Construction — 0.0% (g)
AECOM		25		2,436
Jacobs Solutions, Inc.		32		4,876
				7,312
Environmental Control — 0.2%
Pentair plc, (United Kingdom)		32		2,760
Republic Services, Inc., Class A		54		10,323
Veralto Corp.		38		3,413
Waste Connections, Inc., (Canada)		58		9,901
Waste Management, Inc.		87		18,466
				44,863

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Hand/Machine Tools — 0.0% (g)
Snap-on, Inc.		12		3,413
Stanley Black & Decker, Inc.		30		2,910
				6,323
Machinery - Construction & Mining — 0.2%
Caterpillar, Inc.		98		35,970
Vertiv Holdings Co., Class A		68		5,572
				41,542
Machinery - Diversified — 0.3%
CNH Industrial NV, (United Kingdom)		233		3,013
Deere & Co.		52		21,388
Dover Corp.		26		4,632
Graco, Inc.		20		1,914
IDEX Corp.		12		2,931
Ingersoll Rand, Inc.		82		7,823
Nordson Corp.		5		1,358
Otis Worldwide Corp.		69		6,816
Rockwell Automation, Inc.		22		6,459
Toro Co. (The)		18		1,623
Westinghouse Air Brake Technologies Corp.		41		5,987
Xylem, Inc.		49		6,272
				70,216
Miscellaneous Manufacturers — 0.4%
3M Co.		103		10,948
AO Smith Corp.		19		1,718
Axon Enterprise, Inc. (a)		13		4,007
Carlisle Cos., Inc.		10		3,864
General Electric Co.		213		37,327
Illinois Tool Works, Inc.		53		14,176
Parker-Hannifin Corp.		26		14,370
Teledyne Technologies, Inc. (a)		21		9,128
Textron, Inc.		40		3,830
				99,368
Packaging & Containers — 0.1%
Amcor plc, (United Kingdom)		514		4,893
Ball Corp.		66		4,467
Crown Holdings, Inc.		19		1,527
Packaging Corp. of America		25		4,775
Westrock Co.		71		3,529
				19,191
Shipbuilding — 0.0% (g)
Huntington Ingalls Industries, Inc.		10		2,966
Transportation — 4.0%
CH Robinson Worldwide, Inc.		24		1,831
CSX Corp.		8,192		303,668
Expeditors International of Washington, Inc.		28		3,456
FedEx Corp.		49		14,173
JB Hunt Transport Services, Inc.		17		3,434
Knight-Swift Transportation Holdings, Inc., Class A		38		2,094
Norfolk Southern Corp.		45		11,539
Old Dominion Freight Line, Inc.		36		7,886

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Transportation — continued
Union Pacific Corp.		120		29,398
United Parcel Service, Inc., Class B		3,971		590,251
				967,730
Total Industrial				1,629,864
Technology — 28.0%
Computers — 6.2%
Accenture plc, (Ireland), Class A		122		42,351
Apple, Inc.		7,084		1,214,804
Cognizant Technology Solutions Corp., Class A		115		8,431
Crowdstrike Holdings, Inc., Class A (a)		138		44,099
Dell Technologies, Inc., Class C		121		13,776
EPAM Systems, Inc. (a)		11		3,067
Fortinet, Inc. (a)		390		26,631
Hewlett Packard Enterprise Co.		640		11,339
HP, Inc.		497		15,027
International Business Machines Corp.		182		34,664
Leidos Holdings, Inc.		30		3,897
NetApp, Inc.		100		10,490
Seagate Technology Holdings plc		98		9,099
Super Micro Computer, Inc. (a)		24		24,537
Western Digital Corp. (a)		160		10,901
Zscaler, Inc. (a)		53		10,127
				1,483,240
Office/Business Equipment — 0.0% (g)
Zebra Technologies Corp., Class A (a)		22		6,666
Semiconductors — 9.2%
Advanced Micro Devices, Inc. (a)		786		141,848
Analog Devices, Inc.		244		48,243
Applied Materials, Inc.		405		83,535
Broadcom, Inc.		217		288,237
Entegris, Inc.		71		9,997
Intel Corp.		2,053		90,668
KLA Corp.		65		45,601
Lam Research Corp.		64		62,271
Lattice Semiconductor Corp. (a)		60		4,682
Marvell Technology, Inc.		422		29,887
Microchip Technology, Inc.		261		23,446
Micron Technology, Inc.		541		63,740
Monolithic Power Systems, Inc.		23		15,426
NVIDIA Corp.		1,198		1,082,812
NXP Semiconductors NV, (Netherlands)		126		31,231
ON Semiconductor Corp. (a)		208		15,294
Qorvo, Inc. (a)		44		5,014
QUALCOMM, Inc.		547		92,610
Skyworks Solutions, Inc.		80		8,717
Teradyne, Inc.		63		7,108
Texas Instruments, Inc.		444		77,270
				2,227,637
Software — 12.6%
Adobe, Inc. (a)		272		137,182

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Akamai Technologies, Inc. (a)		28		3,013
ANSYS, Inc. (a)		52		18,190
AppLovin Corp., Class A (a)		108		7,451
Aspen Technology, Inc. (a)		16		3,492
Atlassian Corp., (Australia), Class A (a)		94		18,287
Autodesk, Inc. (a)		128		33,332
Bentley Systems, Inc., Class B		115		5,988
BILL Holdings, Inc. (a)		54		3,723
Broadridge Financial Solutions, Inc.		27		5,480
Cadence Design Systems, Inc. (a)		163		50,841
Cloudflare, Inc., Class A (a)		57		5,499
Confluent, Inc., Class A (a)		104		3,183
Datadog, Inc., Class A (a)		165		20,435
Dayforce, Inc. (a)		23		1,539
DocuSign, Inc., Class A (a)		119		7,077
Dropbox, Inc., Class A (a)		138		3,357
Dynatrace, Inc. (a)		165		7,676
Electronic Arts, Inc.		53		7,044
Fair Isaac Corp. (a)		14		17,733
Fidelity National Information Services, Inc.		357		26,455
Fiserv, Inc. (a)		394		63,026
HubSpot, Inc. (a)		30		18,613
Intuit, Inc.		170		110,283
Jack Henry & Associates, Inc.		39		6,840
Manhattan Associates, Inc. (a)		34		8,574
Microsoft Corp.		4,249		1,787,695
MongoDB, Inc., Class A (a)		14		4,925
MSCI, Inc., Class A		48		27,089
Oracle Corp.		992		124,624
Palantir Technologies, Inc., Class A (a)		1,123		25,839
Paychex, Inc.		62		7,554
Paycom Software, Inc.		9		1,697
PTC, Inc. (a)		71		13,478
ROBLOX Corp., Class A (a)		84		3,197
Roper Technologies, Inc.		66		37,053
Salesforce, Inc.		586		176,491
Samsara, Inc., Class A (a)		105		3,968
ServiceNow, Inc. (a)		124		94,188
Snowflake, Inc., Class A (a)		53		8,610
SS&C Technologies Holdings, Inc.		56		3,592
Synopsys, Inc. (a)		92		52,344
Take-Two Interactive Software, Inc. (a)		34		4,988
Twilio, Inc., Class A (a)		27		1,667
Tyler Technologies, Inc. (a)		26		10,881
UiPath, Inc., Class A (a)		232		5,248
Unity Software, Inc. (a)		138		3,696
Veeva Systems, Inc., Class A (a)		27		6,233
Workday, Inc., Class A (a)		126		34,469
Zoom Video Communications, Inc., Class A (a)		148		9,703
				3,043,542
Total Technology				6,761,085

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Utilities — 0.8%
Electric — 0.8%
AES Corp. (The)		91		1,625
Alliant Energy Corp.		22		1,134
Ameren Corp.		52		3,820
American Electric Power Co., Inc.		111		9,583
CenterPoint Energy, Inc.		86		2,453
CMS Energy Corp.		39		2,352
Consolidated Edison, Inc.		90		8,216
Constellation Energy Corp.		61		11,332
Dominion Energy, Inc.		162		7,985
DTE Energy Co.		46		5,158
Duke Energy Corp.		157		15,205
Edison International		68		4,820
Entergy Corp.		59		6,207
Evergy, Inc.		39		2,071
Eversource Energy		61		3,636
Exelon Corp.		206		7,726
FirstEnergy Corp.		85		3,278
NextEra Energy, Inc.		390		24,951
NRG Energy, Inc.		41		2,742
PG&E Corp.		386		6,461
PPL Corp.		85		2,333
Public Service Enterprise Group, Inc.		102		6,821
Sempra		120		8,613
Southern Co. (The)		230		16,527
Vistra Corp.		67		4,662
WEC Energy Group, Inc.		51		4,193
Xcel Energy, Inc.		102		5,492
				179,396
Gas — 0.0% (g)
Atmos Energy Corp.		23		2,729
NiSource, Inc.		33		900
				3,629
Water — 0.0% (g)
American Water Works Co., Inc.		28		3,457
Essential Utilities, Inc.		19		722
				4,179
Total Utilities				187,204
Total Common Stocks (Cost $16,800,943)				23,934,980

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.7%
Time Deposits — 0.7%
Australia & New Zealand Banking Group Ltd., 4.68%, 03/29/2024		9,976		9,976
Barclays SA, 4.68%, 03/29/2024		2,499		2,499
Citibank NA, 4.68%, 03/29/2024		56,333		56,333
Royal Bank of Canada, 4.68%, 03/29/2024		11,512		11,512
Sumitomo Mitsui Banking Corp., 4.68%, 03/29/2024		66,218		66,218
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 03/29/2024		12,881		12,881
Total Short-Term Investments (Cost $159,419)				159,419
Total Investments — 99.9% (Cost - $16,960,362) *				24,094,399
Other Assets in Excess of Liabilities — 0.1%				29,071
NET ASSETS — 100.0%			$	24,123,470

Percentages indicated are based on net assets.

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Futures contracts outstanding as of March 31, 2024:

Exchange Traded

DESCRIPTION	NUMBER OF CONTRACTS		EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT ($)		VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($)
Long Contracts
CME Micro E-mini Russell 2000 Index		8		06/2024		USD		84		2
E-mini Consumer Staples Select Sector Index		24		06/2024		USD		1,837		31
E-mini Energy Select Sector Index		21		06/2024		USD		1,971		130
E-mini Financial Select Sector Index		68		06/2024		USD		8,600		336
E-mini Health Care Select Sector Index		47		06/2024		USD		7,030		73
E-mini Russell 2000 Index		2		06/2024		USD		211		4
E-mini Technology Select Sector Index		44		06/2024		USD		9,388		(30	)
Micro E-mini NASDAQ 100 Index		369		06/2024		USD		13,611		23
NASDAQ 100 E-mini Index		7		06/2024		USD		2,569		17
S&P 500 E-mini Index		463		06/2024		USD		120,938		1,954
Total unrealized appreciation (depreciation)										2,540

Six Circles U.S. Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 MARCH 31, 2024
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 MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Summary of Investments by Industry, March 31, 2024

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

INDUSTRY	PERCENTAGE
Internet		14.5	%
Software		12.6	%
Semiconductors		9.2	%
Banks		7.8	%
Pharmaceuticals		7.3	%
Computers		6.2	%
Insurance		5.3	%
Diversified Financial Services		4.8	%
Transportation		4.0	%
Healthcare - Services		3.7	%
Healthcare - Products		3.0	%
Oil & Gas		3.0	%
Beverages		2.1	%
Retail		1.7	%
Oil & Gas Services		1.6	%
REITS		1.6	%
Commercial Services		1.4	%
Telecommunications		1.0	%
Others (Each less than 1.0%)		8.5	%
Short-Term Investments		0.7	%

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		396			17,649
OMV AG		123			5,845
Verbund AG		50			3,622
voestalpine AG		216			6,055
					33,171
Belgium — 1.8%
Ageas SA		353			16,369
Anheuser-Busch InBev SA		2,825			171,989
D’ieteren Group		4			947
Elia Group SA		22			2,343
Groupe Bruxelles Lambert NV		101			7,664
KBC Group NV		288			21,628
Lotus Bakeries NV		—	(h)		792
Sofina SA		18			3,937
Syensqo SA (a)		137			13,009
UCB SA		112			13,813
Umicore SA		388			8,356
Warehouses De Pauw CVA		36			1,021
					261,868
Chile — 0.1%
Antofagasta plc		831			21,343
China — 0.0% (g)
Silergy Corp.		137			1,401
Denmark — 8.3%
AP Moller - Maersk A/S, Class A		3			3,440
AP Moller - Maersk A/S, Class B		4			4,964
Carlsberg A/S, Class B		320			43,858
Coloplast A/S, Class B		25			3,410
Danske Bank A/S		795			23,873
Demant A/S (a)		20			996
DSV A/S		159			25,875
Genmab A/S (a)		111			33,272
Novo Nordisk A/S, Class B		7,717			989,857
Novonesis, Class B		691			40,633
Orsted A/S (a) (e)		138			7,696
Pandora A/S		95			15,284
ROCKWOOL A/S, Class B (a)		8			2,748
Tryg A/S		772			15,915
Vestas Wind Systems A/S (a)		918			25,596
					1,237,417

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Finland — 1.2%
Elisa OYJ		29		1,275
Fortum OYJ		328		4,050
Kesko OYJ, Class B		55		1,026
Kone OYJ, Class B		308		14,343
Metso OYJ		601		7,144
Neste OYJ		86		2,327
Nokia OYJ		1,068		3,790
Nordea Bank Abp		3,662		41,398
Orion OYJ, Class B		99		3,675
Sampo OYJ, Class A		998		42,581
Stora Enso OYJ, Class R		1,076		14,956
UPM-Kymmene OYJ		988		32,907
Wartsila OYJ Abp		432		6,568
				176,040
France — 12.4%
Accor SA		38		1,773
Aeroports de Paris SA		31		4,288
Air Liquide SA		971		202,042
Airbus SE		541		99,607
Alstom SA		261		3,981
Amundi SA (e)		70		4,819
Arkema SA		111		11,716
AXA SA		4,016		150,809
BioMerieux		8		933
BNP Paribas SA		1,192		84,848
Bollore SE		145		970
Bouygues SA		176		7,173
Bureau Veritas SA		269		8,208
Capgemini SE		31		7,175
Carrefour SA		115		1,965
Cie de Saint-Gobain SA,		415		32,185
Cie Generale des Etablissements Michelin SCA		137		5,247
Covivio SA		11		569
Credit Agricole SA		1,232		18,375
Danone SA		130		8,383
Dassault Aviation SA		19		4,170
Dassault Systemes SE		134		5,947
Edenred SE		288		15,364
Eiffage SA		68		7,665
Engie SA		1,338		22,416
EssilorLuxottica SA		59		13,418
Eurazeo SE		49		4,323
Gecina SA		10		987
Getlink SE		323		5,497
Hermes International SCA		35		90,682
Ipsen SA		33		3,947
Kering SA		83		33,040
Klepierre SA		44		1,137
La Francaise des Jeux SAEM (e)		21		867
Legrand SA		239		25,331

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
L’Oreal SA		48		22,919
LVMH Moet Hennessy Louis Vuitton SE		309		278,400
Orange SA		376		4,426
Pernod Ricard SA		665		107,719
Publicis Groupe SA		46		5,012
Remy Cointreau SA		75		7,573
Renault SA		158		7,962
Rexel SA		206		5,564
Safran SA		312		70,737
Sanofi SA		1,008		98,106
Sartorius Stedim Biotech (a)		6		1,682
Schneider Electric SE		495		111,858
SEB SA		5		656
Societe Generale SA		833		22,319
Sodexo SA		18		1,526
Teleperformance SE		52		5,032
Thales SA		88		14,953
TotalEnergies SE		1,813		124,749
Unibail-Rodamco-Westfield (a)		24		1,911
Veolia Environnement SA		507		16,482
Vinci SA		455		58,394
Vivendi SE		135		1,470
Worldline SA (a) (e)		273		3,374
				1,862,681
Germany — 13.8%
adidas AG		181		40,552
Allianz SE (Registered)		866		259,537
BASF SE		1,652		94,430
Bayer AG (Registered)		870		26,651
Bayerische Motoren Werke AG		259		29,872
Bechtle AG		16		861
Beiersdorf AG		20		2,932
Brenntag SE		121		10,196
Carl Zeiss Meditec AG		8		1,004
Commerzbank AG		1,215		16,694
Continental AG		22		1,594
Covestro AG (a) (e)		350		19,134
Daimler Truck Holding AG		487		24,690
Delivery Hero SE (a) (e)		35		1,011
Deutsche Bank AG (Registered)		2,234		35,182
Deutsche Boerse AG		219		44,839
Deutsche Lufthansa AG (Registered) (a)		541		4,250
Deutsche Post AG		901		38,839
Deutsche Telekom AG (Registered)		651		15,800
E.ON SE		1,646		22,909
Evonik Industries AG		431		8,534
Fresenius Medical Care AG		41		1,592
Fresenius SE & Co. KGaA		85		2,298
GEA Group AG		148		6,250
Hannover Rueck SE		133		36,511
Heidelberg Materials AG		241		26,547

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Henkel AG & Co. KGaA		26		1,849
Infineon Technologies AG		262		8,924
Knorr-Bremse AG		66		4,999
LEG Immobilien SE (a)		15		1,278
Mercedes-Benz Group AG		658		52,409
Merck KGaA		114		20,183
MTU Aero Engines AG		49		12,514
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		302		147,256
Nemetschek SE		223		22,048
Puma SE		119		5,364
Rational AG		5		3,995
Rheinmetall AG		40		22,421
RWE AG		461		15,677
SAP SE		4,028		784,296
Scout24 SE (e)		15		1,144
Siemens AG (Registered)		691		131,966
Siemens Energy AG (a)		472		8,667
Siemens Healthineers AG (a) (e)		56		3,452
Symrise AG, Class A		246		29,435
Talanx AG		143		11,326
Volkswagen AG		26		3,963
Vonovia SE		147		4,353
Zalando SE (a) (e)		45		1,281
				2,071,509
Hong Kong — 0.4%
Prudential plc		6,785		63,636
Ireland — 1.8%
AerCap Holdings NV (a)		183		15,866
AIB Group plc		1,818		9,227
Bank of Ireland Group plc		1,223		12,486
CRH plc		1,463		126,234
DCC plc		116		8,440
Experian plc		1,071		46,664
Flutter Entertainment plc (a)		81		16,151
Kerry Group plc, Class A		33		2,805
Kingspan Group plc		142		12,906
Smurfit Kappa Group plc		483		22,024
				272,803
Italy — 2.8%
Amplifon SpA		25		924
Assicurazioni Generali SpA		2,240		56,712
Banco BPM SpA		1,396		9,286
Davide Campari-Milano NV		2,003		20,126
DiaSorin SpA		4		432
Enel SpA		5,941		39,223
Eni SpA		1,835		29,060
Ferrari NV		103		45,090
FinecoBank Banca Fineco SpA		704		10,549
Infrastrutture Wireless Italiane SpA (e)		69		788

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Italy — continued
Intesa Sanpaolo SpA		16,852		61,180
Leonardo SpA		278		6,990
Mediobanca Banca di Credito Finanziario SpA		588		8,763
Moncler SpA		231		17,221
Nexi SpA (a) (e)		682		4,320
Poste Italiane SpA (e)		1,012		12,675
Prysmian SpA		245		12,773
Recordati Industria Chimica e Farmaceutica SpA		93		5,134
Snam SpA		1,542		7,281
Telecom Italia SpA (a)		1,908		463
Terna — Rete Elettrica Nazionale		1,052		8,695
UniCredit SpA		1,777		67,471
				425,156
Japan — 5.1%
Advantest Corp.		146		6,486
Aeon Co. Ltd.		124		2,932
AGC, Inc.		38		1,375
Aisin Corp.		28		1,161
Ajinomoto Co., Inc.		89		3,335
ANA Holdings, Inc.		30		621
Asahi Group Holdings Ltd.		91		3,353
Asahi Intecc Co. Ltd.		40		706
Asahi Kasei Corp.		236		1,731
Astellas Pharma, Inc.		345		3,704
Azbil Corp.		21		592
Bandai Namco Holdings, Inc.		114		2,119
Bridgestone Corp.		109		4,818
Brother Industries Ltd.		43		799
Canon, Inc.		190		5,670
Capcom Co. Ltd.		66		1,240
Central Japan Railway Co.		147		3,651
Chiba Bank Ltd. (The)		98		818
Chubu Electric Power Co., Inc.		121		1,585
Chugai Pharmaceutical Co. Ltd.		128		4,888
Concordia Financial Group Ltd.		203		1,022
Dai Nippon Printing Co. Ltd.		41		1,243
Daifuku Co. Ltd.		58		1,393
Dai-ichi Life Holdings, Inc.		179		4,573
Daiichi Sankyo Co. Ltd.		352		11,191
Daikin Industries Ltd.		50		6,854
Daito Trust Construction Co. Ltd.		12		1,335
Daiwa House Industry Co. Ltd.		112		3,346
Daiwa Securities Group, Inc.		252		1,917
Denso Corp.		359		6,881
Dentsu Group, Inc.		39		1,077
Disco Corp.		18		6,397
East Japan Railway Co.		172		3,298
Eisai Co. Ltd.		48		1,981
ENEOS Holdings, Inc.		545		2,623
FANUC Corp.		181		5,058
Fast Retailing Co. Ltd.		33		10,317

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Fuji Electric Co. Ltd.		24			1,617
FUJIFILM Holdings Corp.		213			4,790
Fujitsu Ltd.		336			5,377
GLP J-REIT		1			732
Hamamatsu Photonics KK		27			948
Hankyu Hanshin Holdings, Inc.		44			1,254
Hikari Tsushin, Inc.		4			715
Hirose Electric Co. Ltd.		6			617
Hitachi Construction Machinery Co. Ltd.		20			603
Hitachi Ltd.		176			16,110
Honda Motor Co. Ltd.		878			10,869
Hoshizaki Corp.		20			733
Hoya Corp.		67			8,417
Hulic Co. Ltd.		75			766
Ibiden Co. Ltd.		21			941
Idemitsu Kosan Co. Ltd.		193			1,323
Iida Group Holdings Co. Ltd.		31			401
Inpex Corp.		183			2,788
Isuzu Motors Ltd.		111			1,498
ITOCHU Corp.		226			9,709
Japan Airlines Co. Ltd.		27			509
Japan Exchange Group, Inc.		96			2,606
Japan Metropolitan Fund Invest		1			839
Japan Post Bank Co. Ltd.		277			2,974
Japan Post Holdings Co. Ltd.		396			3,994
Japan Post Insurance Co. Ltd.		37			707
Japan Real Estate Investment Corp.		—	(h)		866
Japan Tobacco, Inc.		228			6,084
JFE Holdings, Inc.		109			1,803
JSR Corp. (a)		34			976
Kajima Corp.		81			1,652
Kansai Electric Power Co., Inc. (The)		132			1,889
KAO Corp.		89			3,322
Kawasaki Kisen Kaisha Ltd.		75			1,005
KDDI Corp.		285			8,415
KDX Realty Investment Corp., Class A		1			823
Keisei Electric Railway Co. Ltd.		26			1,070
Keyence Corp.		37			17,224
Kikkoman Corp.		129			1,656
Kintetsu Group Holdings Co. Ltd.		35			1,014
Kirin Holdings Co. Ltd.		147			2,041
Kobe Bussan Co. Ltd.		29			713
Koito Manufacturing Co. Ltd.		39			524
Komatsu Ltd.		176			5,214
Konami Group Corp.		19			1,315
Kubota Corp.		192			3,008
Kyocera Corp.		244			3,267
Kyowa Kirin Co. Ltd.		50			903
Lasertec Corp.		14			4,076
LY Corp.		507			1,283
M3, Inc.		83			1,193

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Makita Corp.		43			1,219
Marubeni Corp.		272			4,716
MatsukiyoCocokara & Co.		66			1,058
Mazda Motor Corp.		109			1,261
McDonald’s Holdings Co. Japan Ltd.		16			719
MEIJI Holdings Co. Ltd.		44			958
MINEBEA MITSUMI, Inc.		69			1,359
MISUMI Group, Inc.		55			763
Mitsubishi Chemical Group Corp.		243			1,478
Mitsubishi Corp.		656			15,163
Mitsubishi Electric Corp.		368			6,155
Mitsubishi Estate Co. Ltd.		213			3,888
Mitsubishi HC Capital, Inc.		151			1,052
Mitsubishi Heavy Industries Ltd.		611			5,538
Mitsubishi UFJ Financial Group, Inc.		2,113			21,502
Mitsui & Co. Ltd.		247			11,524
Mitsui Chemicals, Inc.		33			968
Mitsui Fudosan Co. Ltd.		506			5,453
Mitsui OSK Lines Ltd.		65			1,977
Mizuho Financial Group, Inc.		459			9,071
MonotaRO Co. Ltd.		47			560
MS&AD Insurance Group Holdings, Inc.		243			4,296
Murata Manufacturing Co. Ltd.		328			6,129
NEC Corp.		47			3,409
Nexon Co. Ltd.		65			1,087
Nidec Corp.		80			3,309
Nintendo Co. Ltd.		198			10,782
Nippon Building Fund, Inc.		—	(h)		1,172
NIPPON EXPRESS HOLDINGS, Inc.		14			715
Nippon Paint Holdings Co. Ltd.		180			1,297
Nippon Prologis REIT, Inc.		—	(h)		782
Nippon Sanso Holdings Corp.		33			1,048
Nippon Steel Corp.		163			3,925
Nippon Telegraph & Telephone Corp.		5,682			6,768
Nippon Yusen KK		87			2,399
Nissan Chemical Corp.		24			894
Nissan Motor Co. Ltd.		458			1,814
Nissin Foods Holdings Co. Ltd.		38			1,042
Nitori Holdings Co. Ltd.		15			2,319
Nitto Denko Corp.		27			2,478
Nomura Holdings, Inc.		570			3,647
Nomura Real Estate Holdings, Inc.		20			576
Nomura Real Estate Master Fund, Inc.		1			808
Nomura Research Institute Ltd.		73			2,062
NTT Data Group Corp.		119			1,886
Obayashi Corp.		124			1,477
Obic Co. Ltd.		13			2,024
Odakyu Electric Railway Co. Ltd.		59			806
Olympus Corp.		230			3,306
Omron Corp.		33			1,192
Ono Pharmaceutical Co. Ltd.		69			1,129

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Oracle Corp. Japan		7		534
Oriental Land Co. Ltd.		208		6,647
ORIX Corp.		224		4,888
Osaka Gas Co. Ltd.		72		1,611
Otsuka Corp.		43		904
Otsuka Holdings Co. Ltd.		80		3,323
Pan Pacific International Holdings Corp.		72		1,916
Panasonic Holdings Corp.		421		4,016
Rakuten Group, Inc.		286		1,622
Recruit Holdings Co. Ltd.		274		12,035
Renesas Electronics Corp.		280		4,984
Resona Holdings, Inc.		403		2,484
Ricoh Co. Ltd.		106		941
Rohm Co. Ltd.		65		1,046
SBI Holdings, Inc.		47		1,238
SCREEN Holdings Co. Ltd.		16		2,010
SCSK Corp.		29		539
Secom Co. Ltd.		40		2,880
Seiko Epson Corp.		55		967
Sekisui Chemical Co. Ltd.		72		1,052
Sekisui House Ltd.		114		2,599
Seven & i Holdings Co. Ltd.		430		6,266
SG Holdings Co. Ltd.		62		780
Sharp Corp. (a)		49		271
Shimadzu Corp.		45		1,248
Shimano, Inc.		15		2,187
Shimizu Corp.		107		692
Shin-Etsu Chemical Co. Ltd.		343		15,040
Shionogi & Co. Ltd.		47		2,392
Shiseido Co. Ltd.		76		2,094
Shizuoka Financial Group, Inc.		88		833
SMC Corp.		11		6,149
SoftBank Corp.		547		7,039
SoftBank Group Corp.		196		11,622
Sompo Holdings, Inc.		170		3,565
Sony Group Corp.		240		20,606
Square Enix Holdings Co. Ltd.		16		613
Subaru Corp.		117		2,654
SUMCO Corp.		67		1,066
Sumitomo Corp.		199		4,784
Sumitomo Electric Industries Ltd.		134		2,083
Sumitomo Metal Mining Co. Ltd.		47		1,392
Sumitomo Mitsui Financial Group, Inc.		242		14,127
Sumitomo Mitsui Trust Holdings, Inc.		125		2,689
Sumitomo Realty & Development Co. Ltd.		54		2,019
Suntory Beverage & Food Ltd.		26		876
Suzuki Motor Corp.		299		3,416
Sysmex Corp.		96		1,713
T&D Holdings, Inc.		95		1,655
Taisei Corp.		33		1,192
Takeda Pharmaceutical Co. Ltd.		301		8,369

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
TDK Corp.		74		3,629
Terumo Corp.		257		4,695
TIS, Inc.		43		912
Tobu Railway Co. Ltd.		36		898
Toho Co. Ltd.		21		691
Tokio Marine Holdings, Inc.		343		10,742
Tokyo Electric Power Co. Holdings, Inc. (a)		291		1,768
Tokyo Electron Ltd.		90		23,362
Tokyo Gas Co. Ltd.		73		1,653
Tokyu Corp.		96		1,173
TOPPAN Holdings, Inc.		44		1,098
Toray Industries, Inc.		264		1,266
TOTO Ltd.		27		754
Toyota Industries Corp.		28		2,930
Toyota Motor Corp.		2,018		51,015
Toyota Tsusho Corp.		41		2,795
Trend Micro, Inc.		26		1,295
Unicharm Corp.		76		2,429
USS Co. Ltd.		76		632
West Japan Railway Co.		83		1,721
Yakult Honsha Co. Ltd.		49		1,004
Yamaha Corp.		26		563
Yamaha Motor Co. Ltd.		168		1,548
Yamato Holdings Co. Ltd.		53		763
Yaskawa Electric Corp.		45		1,924
Yokogawa Electric Corp.		44		1,018
Zensho Holdings Co. Ltd.		17		724
ZOZO, Inc.		26		650
				757,543
Jordan — 0.0% (g)
Hikma Pharmaceuticals plc		189		4,582
Luxembourg — 0.2%
ArcelorMittal SA		947		26,019
Eurofins Scientific SE		27		1,734
Tenaris SA		97		1,908
				29,661
Netherlands — 9.9%
ABN AMRO Bank NV, CVA (e)		548		9,385
Adyen NV (a) (e)		25		42,303
Aegon Ltd.		3,210		19,581
Akzo Nobel NV		316		23,616
Argenx SE (a)		12		4,685
ASM International NV		47		28,505
ASML Holding NV		955		925,981
ASR Nederland NV		350		17,174
BE Semiconductor Industries NV		243		37,185
Euronext NV (e)		99		9,400
EXOR NV		108		11,978
Heineken Holding NV		422		34,050
Heineken NV		937		90,325

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
IMCD NV		52		9,109
ING Groep NV		3,830		63,056
JDE Peet’s NV		19		394
Koninklijke Ahold Delhaize NV		191		5,726
Koninklijke KPN NV		672		2,513
Koninklijke Philips NV		156		3,123
NN Group NV		599		27,638
OCI NV		194		5,322
Prosus NV (a)		294		9,191
QIAGEN NV (a)		45		1,904
Randstad NV		99		5,216
Stellantis NV		1,817		51,612
Universal Music Group NV		165		4,950
Wolters Kluwer NV		226		35,421
				1,479,343
Norway — 0.6%
Adevinta ASA, Class B (a)		69		728
Aker BP ASA		64		1,613
DNB Bank ASA		1,066		21,190
Equinor ASA		753		20,186
Gjensidige Forsikring ASA		438		6,357
Kongsberg Gruppen ASA		81		5,619
Mowi ASA		93		1,711
Norsk Hydro ASA		2,459		13,512
Orkla ASA		141		998
Salmar ASA		13		872
Telenor ASA		127		1,415
Yara International ASA		306		9,711
				83,912
Portugal — 0.1%
EDP - Energias de Portugal SA		2,321		9,054
Galp Energia SGPS SA		389		6,439
Jeronimo Martins SGPS SA		57		1,128
				16,621
Spain — 2.3%
Acciona SA		20		2,401
ACS Actividades de Construccion y Servicios SA		196		8,218
Aena SME SA (e)		69		13,572
Amadeus IT Group SA		91		5,868
Banco Bilbao Vizcaya Argentaria SA		6,733		80,179
Banco Santander SA		18,669		91,190
CaixaBank SA		4,328		21,001
Cellnex Telecom SA (e)		93		3,289
EDP Renovaveis SA		225		3,047
Enagas SA		101		1,494
Endesa SA		246		4,560
Ferrovial SE		476		18,854
Grifols SA (a)		59		531
Iberdrola SA		4,516		56,089
Industria de Diseno Textil SA		220		11,097
Redeia Corp. SA		224		3,827

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Repsol SA		1,019		17,000
Telefonica SA		993		4,385
				346,602
Sweden — 2.9%
Alfa Laval AB		263		10,342
Assa Abloy AB, Class B		910		26,106
Atlas Copco AB, Class A		2,449		41,354
Atlas Copco AB, Class B		1,411		20,837
Beijer Ref AB, Class B		348		5,167
Boliden AB		507		14,069
Epiroc AB, Class A		597		11,213
Epiroc AB, Class B		354		6,000
EQT AB		430		13,624
Essity AB, Class B		123		2,911
Evolution AB (e)		37		4,560
Fastighets AB Balder, Class B (a)		131		964
Getinge AB, Class B		46		923
H & M Hennes & Mauritz AB, Class B		129		2,110
Hexagon AB, Class B		418		4,937
Holmen AB, Class B (a)		141		5,744
Husqvarna AB, Class B		317		2,714
Industrivarden AB, Class A		155		5,321
Industrivarden AB, Class C		167		5,737
Indutrade AB (a)		248		6,743
Investment AB Latour, Class B		135		3,538
Investor AB, Class B		1,996		50,079
L E Lundbergforetagen AB, Class B		88		4,771
Lifco AB, Class B		210		5,495
Nibe Industrier AB, Class B		1,364		6,709
Saab AB, Class B		74		6,576
Sagax AB, Class B		41		1,090
Sandvik AB		969		21,509
Securitas AB, Class B		450		4,643
Skandinaviska Enskilda Banken AB, Class A		1,829		24,781
Skanska AB, Class B		309		5,506
SKF AB, Class B		311		6,342
Svenska Cellulosa AB SCA, Class B		1,121		17,237
Svenska Handelsbanken AB, Class A		1,681		16,998
Swedbank AB, Class A		979		19,425
Swedish Orphan Biovitrum AB (a)		39		974
Tele2 AB, Class B		109		894
Telefonaktiebolaget LM Ericsson, Class B		589		3,166
Telia Co. AB		479		1,227
Volvo AB, Class A		166		4,564
Volvo AB, Class B		1,391		37,703
Volvo Car AB, Class B (a)		613		2,321
				436,924
Switzerland — 15.0%
ABB Ltd. (Registered)		1,455		67,487
Adecco Group AG (Registered)		146		5,784
Alcon, Inc.		100		8,296

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Avolta AG (a)		20			821
Bachem Holding AG, Class B		7			648
Baloise Holding AG (Registered)		101			15,877
Banque Cantonale Vaudoise (Registered)		34			3,994
Barry Callebaut AG (Registered)		7			10,579
BKW AG		16			2,415
Chocoladefabriken Lindt & Spruengli AG		2			23,351
Chocoladefabriken Lindt & Spruengli AG (Registered)		—	(h)		26,661
Cie Financiere Richemont SA, Class A (Registered)		602			91,687
Clariant AG (Registered) (a)		398			5,380
Coca-Cola HBC AG (a)		773			24,437
DSM-Firmenich AG		344			39,158
EMS-Chemie Holding AG (Registered)		13			9,977
Geberit AG (Registered)		30			17,902
Givaudan SA (Registered)		17			76,111
Glencore plc		21,862			119,970
Helvetia Holding AG (Registered)		82			11,328
Holcim AG (a)		965			87,397
Julius Baer Group Ltd.		237			13,769
Kuehne + Nagel International AG (Registered)		49			13,736
Logitech International SA (Registered)		33			2,953
Lonza Group AG (Registered)		15			8,941
Nestle SA (Registered)		5,454			579,463
Novartis AG (Registered)		1,816			175,864
Partners Group Holding AG		26			37,375
Roche Holding AG		651			166,545
Sandoz Group AG (a)		363			10,946
Schindler Holding AG		38			9,477
Schindler Holding AG (Registered)		21			5,027
SGS SA (Registered) (a)		136			13,246
SIG Group AG (a)		566			12,556
Sika AG (Registered)		282			83,980
Sonova Holding AG (Registered)		10			2,945
STMicroelectronics NV		137			5,910
Straumann Holding AG (Registered)		22			3,575
Swatch Group AG (The)		32			7,553
Swatch Group AG (The) (Registered)		59			2,677
Swiss Life Holding AG (Registered)		65			45,741
Swiss Prime Site AG (Registered)		16			1,466
Swiss Re AG		667			85,779
Swisscom AG (Registered) (a)		5			3,178
Temenos AG (Registered)		13			919
UBS Group AG (Registered)		3,791			116,744
VAT Group AG (e)		25			12,717
Zurich Insurance Group AG		324			174,781
					2,247,123
Taiwan — 2.0%
Alchip Technologies Ltd.		31			3,098
ASE Technology Holding Co. Ltd.		1,292			6,271
eMemory Technology, Inc.		27			2,027
Global Unichip Corp.		40			1,524

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Taiwan — continued
Globalwafers Co. Ltd.		91		1,580
MediaTek, Inc.		641		23,226
Nanya Technology Corp.		521		1,100
Novatek Microelectronics Corp.		243		4,474
Powerchip Semiconductor Manufacturing Corp. (a)		1,282		1,038
Realtek Semiconductor Corp.		205		3,570
Taiwan Semiconductor Manufacturing Co. Ltd.		10,378		248,618
United Microelectronics Corp.		4,747		7,709
Vanguard International Semiconductor Corp.		379		1,005
Winbond Electronics Corp.		1,317		1,111
				306,351
United Arab Emirates — 0.0%
NMC Health plc (a) (bb) (cc)		116		—
United Kingdom — 17.2%
3i Group plc		1,372		48,653
abrdn plc		2,619		4,665
Admiral Group plc		642		23,000
Anglo American plc		2,679		66,012
Ashtead Group plc		510		36,294
Associated British Foods plc		155		4,897
AstraZeneca plc		1,771		237,959
Auto Trader Group plc (e)		418		3,692
Aviva plc		6,753		42,372
BAE Systems plc		3,550		60,512
Barclays plc		21,364		49,513
Barratt Developments plc		447		2,683
Berkeley Group Holdings plc		49		2,933
BP plc		18,678		117,173
British American Tobacco plc		921		27,964
BT Group plc, Class A		2,943		4,072
Bunzl plc		392		15,073
Burberry Group plc		493		7,539
Centrica plc		2,457		3,960
Coca-Cola Europacific Partners plc		671		46,943
Compass Group plc		782		22,946
Croda International plc		279		17,277
Diageo plc		7,847		290,339
Endeavour Mining plc		386		7,840
Entain plc		292		2,930
GSK plc		4,702		100,954
Haleon plc		3,147		13,187
Halma plc		173		5,159
Hargreaves Lansdown plc		499		4,628
HSBC Holdings plc		27,007		211,106
Imperial Brands plc		383		8,569
Informa plc		631		6,617
InterContinental Hotels Group plc		76		7,871
Intertek Group plc		189		11,875
J Sainsbury plc		762		2,602
JD Sports Fashion plc		1,170		1,987

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Kingfisher plc		853		2,684
Land Securities Group plc		325		2,703
Legal & General Group plc		14,757		47,410
Lloyds Banking Group plc		89,614		58,608
London Stock Exchange Group plc		587		70,249
M&G plc		3,172		8,828
Melrose Industries plc		1,552		13,179
Mondi plc		930		16,388
National Grid plc		1,703		22,942
NatWest Group plc		8,044		26,943
Next plc		56		6,484
Ocado Group plc (a)		270		1,546
Pearson plc		285		3,750
Persimmon plc		147		2,440
Phoenix Group Holdings plc		1,859		12,984
Reckitt Benckiser Group plc		327		18,626
RELX plc		2,199		94,818
Rentokil Initial plc		2,943		17,499
Rio Tinto plc		2,374		150,103
Rolls-Royce Holdings plc (a)		9,825		52,860
Sage Group plc (The)		468		7,474
Schroders plc		1,137		5,400
Segro plc		584		6,653
Severn Trent plc		123		3,823
Shell plc		7,095		235,422
Smith & Nephew plc		401		5,026
Smiths Group plc		400		8,291
Spirax-Sarco Engineering plc		85		10,812
SSE plc		500		10,430
St James’s Place plc		779		4,571
Standard Chartered plc		3,185		26,999
Taylor Wimpey plc		1,620		2,801
Tesco plc		3,230		12,097
Unilever plc		1,145		57,459
United Utilities Group plc		310		4,032
Vodafone Group plc		10,540		9,348
Whitbread plc		86		3,598
Wise plc, Class A (a)		867		10,140
WPP plc		489		4,636
				2,581,852
United States — 0.0% (g)
Parade Technologies Ltd.		32		921
Total Common Stocks (Cost $11,777,560)				14,718,460
Preferred Stocks — 0.3%
Germany — 0.3%
Bayerische Motoren Werke AG		51		5,501
Dr Ing hc F Porsche AG (e)		93		9,286
Henkel AG & Co. KGaA		30		2,420
Porsche Automobil Holding SE		126		6,663

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Preferred Stocks — continued
Germany — continued
Sartorius AG (a)		5		2,090
Volkswagen AG		167		22,085
Total Preferred Stocks (Cost $44,504)				48,045
SECURITY DESCRIPTION	PRINCIPAL   AMOUNT($)		VALUE ($)
Short-Term Investments — 0.7%
Time Deposits — 0.7%
Australia & New Zealand Banking Group Ltd., 4.68%, 03/29/2024		5,325		5,325
Barclays SA, 4.68%, 03/29/2024		239		239
BNP Paribas SA, 0.52%, 04/02/2024		CHF  7,375		8,177
Brown Brothers Harriman,
2.52%, 04/02/2024		DKK  59,064		8,543
3.28%, 04/02/2024		NOK  9,547		879
Citibank NA,
2.85%, 04/02/2024		EUR  48,458		52,278
4.68%, 03/29/2024		15		15
Royal Bank of Canada,
4.15%, 04/02/2024		GBP  15,134		19,101
4.68%, 03/29/2024		692		692
Skandinaviska Enskilda Banken AB, 2.79%, 04/02/2024		SEK  44,761		4,182
Sumitomo Mitsui Banking Corp.,
(0.25%), 03/29/2024		JPY  601,158		3,972
4.68%, 03/29/2024		3,428		3,428
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 03/29/2024		2,117		2,117
Total Short-Term Investments (Cost $108,948)				108,948
Total Investments — 99.1% (Cost - $11,931,012) *				14,875,453
Liabilities in Excess of Other Assets — 0.9%				129,290
NET ASSETS — 100.0%			$	15,004,743

Percentages indicated are based on net assets.

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Futures contracts outstanding as of March 31, 2024:

Exchange Traded

DESCRIPTION	NUMBER OF CONTRACTS		EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT ($)		VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($)
Long Contracts
Euro STOXX 50 Index		1,139		06/2024		EUR		60,895		1,099
FTSE 100 Index		431		06/2024		GBP		42,164		1,290
OMX Copenhagen 25 Index		103		04/2024		DKK		2,920		(18	)
SGX FTSE Taiwan Index		13		04/2024		USD		896		—	(h)
STOXX 600 Insurance Index		204		06/2024		EUR		4,017		110
STOXX Europe 600 Index		640		06/2024		EUR		17,243		392
TOPIX Index		60		06/2024		JPY		10,782		116
Total unrealized appreciation (depreciation)										2,989

Six Circles International Unconstrained Equity Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 MARCH 31, 2024

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 MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Summary of Investments by Industry, March 31, 2024

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

INDUSTRY	PERCENTAGE
Pharmaceuticals		12.8	%
Insurance		9.2	%
Semiconductors		9.2	%
Banks		9.1	%
Beverages		5.7	%
Software		5.5	%
Food		4.7	%
Chemicals		4.3	%
Oil & Gas		3.9	%
Apparel		3.1	%
Building Materials		2.9	%
Mining		2.7	%
Auto Manufacturers		2.5	%
Aerospace/Defense		2.5	%
Commercial Services		2.3	%
Electric		1.6	%
Diversified Financial Services		1.3	%
Retail		1.2	%
Miscellaneous Manufacturers		1.1	%
Machinery - Diversified		1.0	%
Others (Each less than 1.0%)		12.7	%
Short-Term Investments		0.7	%

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

SECURITY DESCRIPTION	PRINCIPAL   AMOUNT ($)		VALUE ($)
Long Positions — 105.5%
Asset-Backed Securities — 0.7%
American Express Credit Account Master Trust, Series 2023-1, Class A, 4.87%, 05/15/2028		2,200		2,196
Anchorage Capital CLO 11 Ltd., (Cayman Islands), Series 2019-11A, Class AR, (CME Term SOFR 3 Month + 1.40%), 6.72%, 07/22/2032 (e) (aa)		1,900		1,900
Anchorage Capital CLO 28 Ltd., (Cayman Islands), Series 2024-28A, Class A, (CME Term SOFR 3 Month + 1.70%), 6.98%, 04/20/2037 (e) (aa)		2,000		1,994
Apex Credit CLO 2024-I Ltd., (Bermuda), Series 2024-1A, Class A1, (CME Term SOFR 3 Month + 1.80%), 7.12%, 04/20/2036 (e) (aa)		1,000		997
ARES L CLO Ltd., (Cayman Islands), Series 2018-50A, Class AR, (CME Term SOFR 3 Month + 1.31%), 6.63%, 01/15/2032 (e) (aa)		3,300		3,300
Atlas Senior Loan Fund Ltd., (Cayman Islands), Series 2017-8A, Class A, (CME Term SOFR 3 Month + 1.41%), 6.73%, 01/16/2030 (e) (aa)		1,892		1,892
Benefit Street Partners CLO XVII Ltd., (Cayman Islands), Series 2019-17A, Class AR, (CME Term SOFR 3 Month + 1.34%), 6.66%, 07/15/2032 (e) (aa)		4,300		4,296
BlueMountain CLO 2016-3 Ltd., (Cayman Islands), Series 2016-3A, Class A1R2, (CME Term SOFR 3 Month + 1.20%), 0.00%, 11/15/2030 (e) (w) (aa)		1,000		1,000
CARLYLE US CLO 2017-1 Ltd., (Cayman Islands),
Series 2017-1A, Class A1R, (CME Term SOFR 3 Month + 1.26%), 6.58%, 04/20/2031 (e) (aa)		1,522		1,524
Series 2018-2A, Class A1R, (CME Term SOFR 3 Month + 1.15%), 6.48%, 10/15/2031 (e) (aa)		4,100		4,100
CIFC Funding Ltd., (Cayman Islands), Series 2017-4A, Class A1R, (CME Term SOFR 3 Month + 1.21%), 6.53%, 10/24/2030 (e) (aa)		2,438		2,430
Crestline Denali CLO XV Ltd., (Cayman Islands), Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.29%), 6.61%, 04/20/2030 (e) (aa)		3,170		3,171
Diameter Capital CLO 6 Ltd., (Cayman Islands), Series 2024-6A, Class A1, (CME Term SOFR 3 Month + 1.61%), 0.00%, 04/15/2037 (e) (aa)		2,700		2,702
Dryden 27 R Euro CLO 2017 DAC, (Ireland), Series 2017-27A, Class AR, (ICE LIBOR EUR 3 Month + 0.66%), 4.60%, 04/15/2033 (e) (aa)	EUR	7,542		8,018
Dryden Senior Loan Fund, (Cayman Islands), Series 2014-36A, Class AR3, (CME Term SOFR 3 Month + 1.28%), 6.60%, 04/15/2029 (e) (aa)		3,836		3,837
Generate CLO 3 Ltd., (Cayman Islands), Series 3A, Class A2R, (CME Term SOFR 3 Month + 1.83%), 0.00%, 10/20/2036 (e) (aa)		2,400		2,402
GM Financial Consumer Automobile Receivables Trust,
Series 2023-1, Class A3, 4.66%, 02/16/2028		1,850		1,835
Series 2023-1, Class A4, 4.59%, 07/17/2028		230		227
Goldentree Loan Management US CLO 4 Ltd., (Cayman Islands), Series 2019-4A, Class ARR, (CME Term SOFR 3 Month + 1.15%), 6.48%, 04/24/2031 (e) (aa)		2,200		2,202
KKR CLO 28 Ltd., (Cayman Islands), Series 28A, Class AR, (CME Term SOFR 3 Month + 1.44%), 6.76%, 02/09/2035 (e) (aa)		1,100		1,094
KKR CLO Trust, (Cayman Islands), Series 39A, Class A, (CME Term SOFR 3 Month + 1.45%), 6.77%, 10/15/2034 (e) (aa)		600		599
Madison Park Funding XXIX Ltd., (Cayman Islands), Series 2018-29A, Class AR, (CME Term SOFR 3 Month + 1.18%), 0.00%, 10/18/2030 (e) (w) (aa)		1,500		1,500
Madison Park Funding XXVI Ltd., (Cayman Islands), Series 2017-26A, Class AR, (CME Term SOFR 3 Month + 1.46%), 6.78%, 07/29/2030 (e) (aa)		2,224		2,224
Magnetite XVIII Ltd., (Cayman Islands), Series 2016-18A, Class AR2, (CME Term SOFR 3 Month + 1.14%), 6.45%, 11/15/2028 (e) (aa)		2,467		2,468

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Marathon CLO 14 Ltd., (Cayman Islands), Series 2019-2A, Class A1AR, (CME Term SOFR 3 Month + 1.38%), 6.70%, 01/20/2033 (e) (aa)		1,400		1,401
Marble Point CLO X Ltd., (Cayman Islands), Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.30%), 6.62%, 10/15/2030 (e) (aa)		962		963
Mountain View CLO 2017-1 LLC, (Cayman Islands),
Series 2017-1A, Class AR, (CME Term SOFR 3 Month + 1.35%), 6.67%, 10/16/2029 (e) (aa)		596		596
Series 2017-2A, Class AR, (CME Term SOFR 3 Month + 1.30%), 6.62%, 01/16/2031 (e) (aa)		2,405		2,407
OCP CLO 2017-14 Ltd., (Cayman Islands), Series 2017-14A, Class A1A, (CME Term SOFR 3 Month + 1.41%), 6.73%, 11/20/2030 (e) (aa)		3,552		3,556
Octagon Investment Partners 39 Ltd., (Cayman Islands), Series 2018-3A, Class AR, (CME Term SOFR 3 Month + 1.15%), 6.48%, 10/20/2030 (e) (aa)		4,000		4,002
Palmer Square CLO 2022-1 Ltd., (Cayman Islands), Series 2022-1A, Class A, (CME Term SOFR 3 Month + 1.32%), 6.64%, 04/20/2035 (e) (aa)		600		598
Regatta XIX Funding Ltd., (Cayman Islands), Series 2022-1A, Class A1, (CME Term SOFR 3 Month + 1.32%), 6.64%, 04/20/2035 (e) (aa)		1,000		998
Sound Point CLO XXIII, (Cayman Islands), Series 2019-2A, Class AR, (CME Term SOFR 3 Month + 1.43%), 6.75%, 07/15/2034 (e) (aa)		500		498
Sycamore Tree CLO 2023-2 Ltd., (Cayman Islands), Series 2023-2A, Class AR, (CME Term SOFR 3 Month + 1.68%), 7.00%, 01/20/2037 (e) (aa)		1,600		1,600
Symphony CLO XXIV Ltd., (Cayman Islands), Series 2020-24A, Class AR, (CME Term SOFR 3 Month + 1.20%), 6.52%, 01/23/2032 (e) (aa)		1,000		1,000
TCW CLO 2024-1 Ltd., (Cayman Islands), Series 2024-1A, Class A1, (CME Term SOFR 3 Month + 1.60%), 6.92%, 01/16/2037 (e) (aa)		700		700
Venture CLO Ltd., (Cayman Islands), Series 2018-33A, Class A1LR, (CME Term SOFR 3 Month + 1.32%), 6.64%, 07/15/2031 (e) (aa)		686		686
Vibrant CLO VI Ltd., (Cayman Islands), Series 2017-6A, Class AR, (CME Term SOFR 3 Month + 1.21%), 6.54%, 06/20/2029 (e) (aa)		24		24
Voya CLO 2017-1 Ltd., (Cayman Islands), Series 2017-1A, Class A1R, (CME Term SOFR 3 Month + 1.21%), 6.53%, 04/17/2030 (e) (aa)		2,964		2,966
Wellfleet CLO 2015-1 Ltd., (Cayman Islands), Series 2015-1A, Class AR4, (CME Term SOFR 3 Month + 1.15%), 6.47%, 07/20/2029 (e) (aa)		246		246
WF Card Issuance Trust, Series 2024-A1, Class A, 4.94%, 02/15/2029		1,500		1,503
Total Asset-Backed Securities (Cost $82,783)				81,652
Collateralized Mortgage Obligations — 2.3%
Citigroup Mortgage Loan Trust,
Series 2021-INV1, Class A3A, 2.50%, 05/25/2051 (e) (z)		5,655		4,537
Series 2021-INV3, Class A11, (United States 30 Day Average SOFR + 0.85%), 5.00%, 05/25/2051 (e) (aa)		411		381
FHLMC REMICS,
Series 3404, Class SA, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.57%, 01/15/2038 (aa)		1,038		82
Series 3680, Class SA, IF, IO, (4.89% - United States 30 Day Average SOFR), 0.00%, 06/15/2040 (aa)		2,070		92
Series 4023, Class S, IF, IO, (6.14% - United States 30 Day Average SOFR), 0.82%, 03/15/2042 (aa)		998		80
Series 4056, Class GS, IF, IO, (6.54% - United States 30 Day Average SOFR), 1.22%, 12/15/2041 (aa)		445		35
Series 4134, Class PI, IO, 3.00%, 11/15/2042		430		47
Series 4147, Class JI, IO, 3.50%, 12/15/2032		3,956		325

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 4165, Class TI, IO, 3.00%, 12/15/2042		443		28
Series 4479, Class AI, IO, 3.50%, 09/15/2025		1,667		27
Series 4598, Class IK, IO, 3.50%, 03/15/2046		570		97
Series 4710, Class EI, IO, 3.50%, 11/15/2031		2,761		185
Series 4751, Class EF, (United States 30 Day Average SOFR + 0.36%), 5.68%, 05/15/2041 (aa)		2,451		2,369
Series 4764, Class WF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 02/15/2048 (aa)		4,530		4,402
Series 4790, Class F, (United States 30 Day Average SOFR + 0.30%), 5.62%, 10/15/2043 (aa)		1,715		1,671
Series 4825, Class SE, IF, IO, (6.09% - United States 30 Day Average SOFR), 0.77%, 09/15/2048 (aa)		3,849		426
Series 4830, Class IL, IO, 4.50%, 04/15/2048		1,626		324
Series 4888, Class IB, IO, 4.00%, 03/15/2047		316		54
Series 4930, Class IP, IO, 3.50%, 09/25/2048		4,972		678
Series 4990, Class MI, IO, 4.00%, 07/25/2050		4,019		897
Series 5003, Class AS, IF, IO, (5.99% - United States 30 Day Average SOFR), 0.67%, 08/25/2050 (aa)		6,876		859
Series 5013, Class IQ, IO, 3.50%, 09/25/2050		4,869		834
Series 5016, Class PI, IO, 3.00%, 09/25/2050		10,432		1,652
Series 5023, Class BI, IO, 2.00%, 10/25/2050		21,386		2,825
Series 5034, Class MI, IO, 2.00%, 11/25/2050		1,907		252
Series 5034, Class YI, IO, 4.00%, 11/25/2050		2,600		520
Series 5045, Class DI, IO, 2.50%, 11/25/2050		2,699		390
Series 5047, Class CI, IO, 2.00%, 12/25/2050		1,678		209
Series 5056, Class PI, IO, 2.50%, 12/25/2050		8,103		1,025
Series 5062, Class EI, IO, 2.00%, 01/25/2051		3,603		454
Series 5065, Class IG, IO, 3.00%, 01/25/2051		3,176		461
Series 5069, Class DI, IO, 3.50%, 02/25/2041		1,237		149
Series 5069, Class LI, IO, 2.50%, 02/25/2051		14,213		2,042
Series 5071, Class IN, IO, 4.00%, 08/25/2050		5,267		1,143
Series 5081, Class EI, IO, 2.50%, 03/25/2051		19,807		2,808
Series 5087, Class IL, IO, 3.00%, 03/25/2051		1,919		289
Series 5109, Class IE, IO, 2.50%, 05/25/2051		985		133
Series 5124, Class LI, IO, 4.50%, 07/25/2051		10,844		2,417
Series 5157, Class IA, IO, 3.00%, 10/25/2051		47,880		7,522
Series 5202, Class UI, IO, 3.50%, 01/25/2052		4,071		705
Series 5210, Class AI, IO, 3.50%, 01/25/2042		3,981		513
Series 5227, Class EI, IO, 4.00%, 04/25/2050		4,191		419
Series 5383, Class AF, (United States 30 Day Average SOFR + 1.00%), 5.92%, 08/15/2048 (aa)		968		976
FHLMC STRIPs,
Series 365, Class C2, IO, 4.00%, 06/15/2049		3,724		684
Series 399, Class C29, IO, 2.00%, 06/25/2052		9,884		1,310
Series 399, Class C30, IO, 2.00%, 06/25/2051		76,332		9,936
FNMA Interest STRIP,
Series 379, Class S56, IF, IO, (7.79% - United States 30 Day Average SOFR), 2.47%, 05/25/2037 (aa)		345		45
Series 405, Class 1, PO, Zero Coupon, 10/25/2040		280		215
Series 406, Class 23, IO, 6.00%, 11/25/2040 (z)		132		29
Series 413, Class C32, IO, 4.00%, 01/25/2039		1,337		210
Series 427, Class C77, IO, 2.50%, 09/25/2051		44,998		6,826
Series 429, Class 161, IO, 2.00%, 03/25/2051		2,926		314
Series 429, Class 162, IO, 2.00%, 03/25/2051		2,274		244
Series 429, Class 163, IO, 2.00%, 02/25/2051		539		57
Series 429, Class 164, IO, 2.00%, 03/25/2051		1,003		109

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
FNMA REMICS,
Series 2007-30, Class JS, IF, IO, (6.33% - United States 30 Day Average SOFR), 1.01%, 04/25/2037 (aa)		1,421		134
Series 2012-35, Class SP, IF, IO, (6.39% - United States 30 Day Average SOFR), 1.07%, 04/25/2042 (aa)		1,943		224
Series 2012-53, Class IO, IO, 3.50%, 05/25/2027		303		10
Series 2012-98, Class JI, IO, 3.00%, 04/25/2027		302		2
Series 2012-135, Class SB, IF, IO, (5.99% - United States 30 Day Average SOFR), 0.67%, 12/25/2042 (aa)		903		91
Series 2013-30, Class CA, 1.50%, 04/25/2043		1,171		952
Series 2013-109, Class BO, PO, Zero Coupon, 07/25/2043		411		237
Series 2014-34, Class US, IF, (8.37% - United States 30 Day Average SOFR), 0.00%, 06/25/2044 (aa)		67		54
Series 2014-47, Class FB, (United States 30 Day Average SOFR + 0.46%), 5.80%, 08/25/2054 (aa)		2,461		2,391
Series 2016-26, Class SY, IF, (6.77% - United States 30 Day Average SOFR), 0.00%, 11/25/2042 (aa)		514		316
Series 2016-40, Class EF, (United States 30 Day Average SOFR + 0.56%), 5.89%, 07/25/2046 (aa)		624		617
Series 2016-63, Class AS, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.57%, 09/25/2046 (aa)		1,425		159
Series 2016-68, Class WI, IO, 0.00%, 10/25/2046 (z)		3,833		176
Series 2016-71, Class NI, IO, 3.50%, 04/25/2046		732		93
Series 2017-97, Class BF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 12/25/2047 (aa)		4,444		4,333
Series 2018-67, Class HF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 09/25/2048 (aa)		2,383		2,318
Series 2018-67, Class SH, IF, IO, (6.09% - United States 30 Day Average SOFR), 0.77%, 09/25/2048 (aa)		2,993		303
Series 2018-77, Class PF, (United States 30 Day Average SOFR + 0.41%), 5.73%, 10/25/2048 (aa)		1,913		1,860
Series 2019-47, Class SI, IO, 0.00%, 08/25/2049 (z)		11,760		552
Series 2019-48, Class IB, IO, 0.67%, 06/25/2039 (z)		19,979		395
Series 2019-53, Class IA, IO, 0.00%, 09/25/2049 (z)		22,940		1,118
Series 2019-68, Class US, IF, IO, (5.89% - United States 30 Day Average SOFR), 0.57%, 11/25/2049 (aa)		5,888		722
Series 2019-78, Class DI, IO, 4.50%, 11/25/2049		578		109
Series 2020-29, Class SA, IO, 0.00%, 05/25/2050 (z)		5,019		203
Series 2020-33, Class IO, IO, 0.00%, 05/25/2050 (z)		13,659		582
Series 2020-42, Class CI, IO, 3.00%, 06/25/2050		11,957		1,846
Series 2020-60, Class BI, IO, 3.50%, 09/25/2050		10,893		1,989
Series 2020-68, Class CI, IO, 3.00%, 10/25/2050		8,286		1,357
Series 2020-74, Class PI, IO, 2.00%, 12/25/2049		9,996		1,222
Series 2020-86, Class PI, IO, 2.50%, 12/25/2050		3,170		481
Series 2020-89, Class IM, IO, 2.00%, 12/25/2050		9,513		1,234
Series 2020-89, Class LI, IO, 3.00%, 12/25/2050		11,028		1,891
Series 2020-99, Class IQ, IO, 3.00%, 01/25/2051		907		159
Series 2021-3, Class TI, IO, 2.50%, 02/25/2051		2,540		402
Series 2021-8, Class WI, IO, 0.19%, 03/25/2051 (z)		13,105		651

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2021-8, Class YF, (United States 30 Day Average SOFR + 0.20%), 5.53%, 03/25/2061 (aa)		8,334		8,159
Series 2021-36, Class YI, IO, 0.26%, 06/25/2061 (z)		15,112		759
Series 2021-47, Class PI, IO, 2.50%, 07/25/2051		635		78
Series 2022-52, Class IH, IO, 3.00%, 03/25/2051		10,455		1,923
Series 2024-10, Class AF, (United States 30 Day Average SOFR + 0.90%), 5.65%, 12/25/2050 (aa)		2,930		2,932
GNMA,
Series 2015-H03, Class FA, (CME Term SOFR 1 Month + 0.61%), 5.94%, 12/20/2064 (aa)		30		30
Series 2015-H33, Class FA, (CME Term SOFR 1 Month + 0.77%), 6.10%, 12/20/2065 (aa)		8,339		8,297
Series 2017-H03, Class HA, 3.00%, 01/20/2067		3,979		3,838
Series 2019-65, Class ID, IO, 4.00%, 02/20/2049		1,243		157
Series 2019-H08, Class FE, (CME Term SOFR 1 Month + 0.76%), 6.09%, 01/20/2069 (aa)		4,012		3,951
Series 2019-H16, Class FD, (CME Term SOFR 1 Month + 0.91%), 6.24%, 10/20/2069 (aa)		2,260		2,272
Series 2020-142, Class LI, IO, 2.50%, 09/20/2050		10,422		1,363
Series 2020-142, Class MT, IF, IO, (6.04% - CME Term SOFR 1 Month), 0.05%, 07/20/2047 (aa)		12,461		22
Series 2020-142, Class TN, IF, IO, (6.09% - CME Term SOFR 1 Month), 0.10%, 09/20/2047 (aa)		16,684		66
Series 2020-176, Class FW, (CME Term SOFR 1 Month + 0.41%), 4.00%, 11/20/2050 (aa)		2,578		2,332
Series 2020-H12, Class F, (CME Term SOFR 1 Month + 0.61%), 5.94%, 07/20/2070 (aa)		586		574
Series 2020-H13, Class FA, (CME Term SOFR 1 Month + 0.56%), 5.89%, 07/20/2070 (aa)		8,019		7,830
Series 2020-H14, Class FH, (CME Term SOFR 1 Month + 1.36%), 6.69%, 08/20/2070 (aa)		6,646		6,806
Series 2020-H15, Class FH, (CME Term SOFR 1 Month + 1.16%), 6.49%, 07/20/2070 (aa)		2,715		2,717
Series 2020-H15, Class FK, (CME Term SOFR 1 Month + 1.36%), 6.69%, 04/20/2070 (aa)		4,783		4,822
Series 2020-H16, Class FN, (CME Term SOFR 1 Month + 1.36%), 6.69%, 09/20/2070 (aa)		1,809		1,851
Series 2021-23, Class GI, IO, 2.00%, 02/20/2051		11,176		1,227
Series 2021-44, Class TF, (United States 30 Day Average SOFR + 0.30%), 4.00%, 03/20/2051 (aa)		2,419		2,168
Series 2021-122, Class IT, IO, 2.50%, 07/20/2051		11,449		1,514
Series 2021-206, Class IG, IO, 2.50%, 09/20/2051		9,734		1,060
Series 2021-223, Class QI, IO, 2.50%, 10/20/2051		10,405		1,088
Series 2021-H03, Class ML, 7.59%, 01/20/2071 (z)		8,142		8,259
Series 2021-H05, Class FJ, (United States 30 Day Average SOFR + 0.75%), 6.07%, 03/20/2071 (aa)		296		292
Series 2021-H12, Class DF, (United States 30 Day Average SOFR + 1.50%), 6.82%, 08/20/2071 (aa)		1,983		2,007
Series 2021-H14, Class HF, (United States 30 Day Average SOFR + 1.50%), 6.82%, 09/20/2071 (aa)		7,873		8,057
Series 2021-H16, Class F, (United States 30 Day Average SOFR + 1.50%), 6.82%, 09/20/2071 (aa)		9,677		9,926
Series 2022-H09, Class FA, (United States 30 Day Average SOFR + 0.67%), 5.99%, 04/20/2072 (aa)		557		545
Series 2023-H02, Class FA, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2073 (aa)		2,928		2,933
Series 2023-H02, Class FL, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2073 (aa)		8,522		8,538
Series 2023-H02, Class JF, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2073 (aa)		6,615		6,628
Series 2023-H03, Class FA, (United States 30 Day Average SOFR + 0.87%), 6.19%, 02/20/2073 (aa)		11,747		11,750
Series 2023-H09, Class FA, (United States 30 Day Average SOFR + 0.80%), 6.12%, 04/20/2073 (aa)		1,992		1,985

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2023-H11, Class FC, (United States 30 Day Average SOFR + 1.10%), 6.42%, 05/20/2073 (aa)		8,747		8,923
Series 2023-H11, Class FD, (United States 30 Day Average SOFR + 1.15%), 6.47%, 05/20/2073 (aa)		1,483		1,484
Series 2023-H15, Class FB, (United States 30 Day Average SOFR + 1.00%), 6.32%, 03/20/2073 (aa)		2,014		1,999
Series 2023-H27, Class FD, (United States 30 Day Average SOFR + 1.10%), 6.42%, 11/20/2073 (aa)		5,101		5,177
Series 2024-H01, Class FB, (United States 30 Day Average SOFR + 0.90%), 6.22%, 01/20/2074 (aa)		3,018		3,025
Series 2024-H02, Class FH, (United States 30 Day Average SOFR + 0.93%), 6.25%, 01/20/2074 (aa)		5,529		5,543
Series 2024-H02, Class FJ, (United States 30 Day Average SOFR + 1.00%), 6.32%, 12/20/2073 (aa)		4,019		4,039
GS Mortgage-Backed Securities Trust, Series 2021-GR2, Class A2, 2.50%, 02/25/2052 (e) (z)		1,059		850
IMS Ecuadorian Mortgage Trust, Series 2021-1, Class GA, 3.40%, 08/18/2043 (e)		1,832		1,793
MFA Trust, Series 2020-NQM2, Class A1, 1.38%, 04/25/2065 (e) (z)		2,723		2,525
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)		1,794		1,657
OBX Trust, Series 2021-INV2, Class A11, (United States 30 Day Average SOFR + 0.90%), 5.00%, 10/25/2051 (e) (aa)		421		389
PMT Loan Trust,
Series 2021-INV1, Class A11, (United States 30 Day Average SOFR + 0.90%), 5.00%, 07/25/2051 (e) (aa)		8,364		7,747
Series 2021-INV1, Class A3, 2.50%, 07/25/2051 (e) (z)		3,975		3,189
PRET Trust, Series 2024-RPL1, Class A1, 3.90%, 10/25/2063 (e) (z)		1,000		937
Total Collateralized Mortgage Obligations (Cost $287,672)				272,529
Commercial Mortgage-Backed Securities — 0.4%
AREIT LLC, (Bermuda), Series 2023-CRE8, Class A, (CME Term SOFR 1 Month + 2.11%), 7.44%, 08/17/2041 (e) (aa)		1,676		1,669
Banc of America Commercial Mortgage Trust, Series 2015-UBS7, Class ASB, 3.43%, 09/15/2048		215		212
BANK,
Series 2017-BNK7, Class AS, 3.75%, 09/15/2060		750		705
Series 2018-BN13, Class A5, 4.22%, 08/15/2061 (z)		500		481
Series 2018-BN15, Class A4, 4.41%, 11/15/2061 (z)		1,235		1,200
Barclays Commercial Mortgage Trust,
Series 2019-C5, Class A4, 3.06%, 11/15/2052		1,000		903
Series 2019-C5, Class ASB, 2.99%, 11/15/2052		500		476
BBCMS Mortgage Trust,
Series 2020-C6, Class ASB, 2.60%, 02/15/2053		600		559
Series 2020-C7, Class A5, 2.04%, 04/15/2053		210		177
BCP Trust, Series 2021-330N, Class A, (CME Term SOFR 1 Month + 0.91%), 6.24%, 06/15/2038 (e) (aa)		2,800		2,660
Benchmark Mortgage Trust,
Series 2020-B16, Class AM, 2.94%, 02/15/2053 (z)		350		297
Series 2020-B17, Class A5, 2.29%, 03/15/2053		500		418
Series 2020-B20, Class A5, 2.03%, 10/15/2053		750		600
BMO Mortgage Trust, Series 2023-C5, Class A5, 5.77%, 06/15/2056		832		874

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
BWAY Mortgage Trust, Series 2021-1450, Class A, (CME Term SOFR 1 Month + 1.36%), 6.69%, 09/15/2036 (e) (aa)		4,600		4,366
BX Commercial Mortgage Trust, Series 2021-21M, Class A, (CME Term SOFR 1 Month + 0.84%), 6.17%, 10/15/2036 (e) (aa)		2,025		2,008
CD Mortgage Trust, Series 2017-CD5, Class AAB, 3.22%, 08/15/2050		664		642
CGMS Commercial Mortgage Trust, Series 2017-B1, Class A4, 3.46%, 08/15/2050		1,100		1,024
Citigroup Commercial Mortgage Trust,
Series 2014-GC23, Class AS, 3.86%, 07/10/2047		250		248
Series 2015-GC33, Class AS, 4.11%, 09/10/2058		500		469
Series 2019-GC41, Class AS, 3.02%, 08/10/2056		250		217
COMM Mortgage Trust, Series 2016-CR28, Class ASB, 3.53%, 02/10/2049		174		171
CSAIL Commercial Mortgage Trust, Series 2016-C7, Class ASB, 3.31%, 11/15/2049		161		158
CSMC, Series 2020-FACT, Class A, (CME Term SOFR 1 Month + 1.71%), 7.04%, 10/15/2037 (e) (aa)		2,100		2,063
FHLMC Multifamily Structured Pass Through Certificates,
Series K047, Class A2, 3.33%, 05/25/2025 (z)		1,000		979
Series K049, Class A2, 3.01%, 07/25/2025		250		243
Series K057, Class A2, 2.57%, 07/25/2026		850		811
Series K063, Class A2, 3.43%, 01/25/2027 (z)		1,000		967
Series K071, Class A2, 3.29%, 11/25/2027		500		478
Series K073, Class A2, 3.35%, 01/25/2028		1,000		957
Series K075, Class A2, 3.65%, 02/25/2028 (z)		500		482
Series K094, Class A2, 2.90%, 06/25/2029		112		103
Series K103, Class A2, 2.65%, 11/25/2029		500		453
Series K108, Class A2, 1.52%, 03/25/2030		304		257
Series K117, Class A2, 1.41%, 08/25/2030		1,500		1,238
Series K118, Class A2, 1.49%, 09/25/2030		500		414
Series K726, Class A2, 2.91%, 04/25/2024		94		94
Series K729, Class A2, 3.14%, 10/25/2024		170		167
Series K737, Class A2, 2.53%, 10/25/2026		650		616
Series K-152, Class A2, 3.78%, 11/25/2032 (z)		2,500		2,345
Series K-161, Class A2, 4.90%, 10/25/2033		1,500		1,526
FNMA-ACES,
Series 2015-M10, Class A2, 3.09%, 04/25/2027 (z)		444		426
Series 2016-M5, Class A2, 2.47%, 04/25/2026		439		418
Series 2017-M11, Class A2, 2.98%, 08/25/2029		957		882
Series 2017-M12, Class A2, 3.06%, 06/25/2027 (z)		89		85
Series 2017-M13, Class A2, 2.93%, 09/25/2027 (z)		504		476
Series 2018-M8, Class A2, 3.30%, 06/25/2028 (z)		904		859
Series 2020-M46, Class A2, 1.32%, 05/25/2030		1,000		831
GS Mortgage Securities Trust, Series 2019-GSA1, Class A4, 3.05%, 11/10/2052		250		226
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2016-C29, Class A4, 3.33%, 05/15/2049		500		477
Series 2016-C31, Class A5, 3.10%, 11/15/2049		500		465
Series 2016-C32, Class A4, 3.72%, 12/15/2049		1,000		958
UBS Commercial Mortgage Trust,
Series 2018-C11, Class ASB, 4.12%, 06/15/2051		589		574
Series 2018-C12, Class A5, 4.30%, 08/15/2051		1,380		1,324
Wells Fargo Commercial Mortgage Trust,
Series 2017-C39, Class A5, 3.42%, 09/15/2050		1,000		938
Series 2017-C40, Class A4, 3.58%, 10/15/2050		550		520

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Series 2018-C44, Class A5, 4.21%, 05/15/2051		1,000		957
Series 2021-C60, Class A4, 2.34%, 08/15/2054		550		459
Total Commercial Mortgage-Backed Securities (Cost $50,085)				45,602
Corporate Bonds — 40.5%
Basic Materials — 1.0%
Chemicals — 0.6%
Air Liquide Finance SA, (France),
Reg. S, 0.38%, 05/27/2031	EUR	7,400		6,622
Reg. S, 0.63%, 06/20/2030	EUR	5,600		5,214
Reg. S, 0.75%, 06/13/2024	EUR	1,200		1,287
Reg. S, 2.88%, 09/16/2032	EUR	3,200		3,394
Air Products and Chemicals, Inc.,
0.50%, 05/05/2028	EUR	1,000		967
2.80%, 05/15/2050		15		10
4.00%, 03/03/2035	EUR	1,600		1,806
Akzo Nobel NV, (Netherlands),
Reg. S, 1.50%, 03/28/2028	EUR	1,000		1,003
Reg. S, 2.00%, 03/28/2032	EUR	1,000		970
Argentum Netherlands BV for Givaudan SA, (Netherlands),
Reg. S, 1.13%, 09/17/2025	EUR	800		833
Reg. S, 2.00%, 09/17/2030	EUR	1,000		996
Arkema SA, (France),
Reg. S, 0.75%, 12/03/2029	EUR	1,000		936
Reg. S, (EUR Swap Rate 5 Year + 1.57%), 1.50%, 10/21/2025 (x) (aa)	EUR	1,000		1,022
Reg. S, 1.50%, 04/20/2027	EUR	1,000		1,023
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.04%), 4.80%, 03/25/2029 (x) (aa)	EUR	2,600		2,816
Brenntag Finance BV, (Netherlands),
Reg. S, 0.50%, 10/06/2029	EUR	500		460
Reg. S, 1.13%, 09/27/2025	EUR	1,000		1,038
Celanese US Holdings LLC,
6.35%, 11/15/2028		130		135
6.70%, 11/15/2033		15		16
CF Industries, Inc., 4.50%, 12/01/2026 (e)		1,800		1,756
Covestro AG, (Germany), Reg. S, 0.88%, 02/03/2026	EUR	1,875		1,926
Dow Chemical Co. (The),
4.55%, 11/30/2025		118		117
5.25%, 11/15/2041		600		571
6.90%, 05/15/2053		460		532
Eastman Chemical Co., 5.63%, 02/20/2034		800		806
Ecolab, Inc.,
1.30%, 01/30/2031		266		213
1.65%, 02/01/2027		68		62
2.13%, 02/01/2032		458		381
2.70%, 12/15/2051		2		1
FMC Corp.,
5.15%, 05/18/2026		675		671
5.65%, 05/18/2033		2,485		2,446

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Givaudan Finance Europe BV, (Netherlands),
Reg. S, 1.00%, 04/22/2027	EUR	100		101
Reg. S, 4.13%, 11/28/2033	EUR	3,450		3,918
Huntsman International LLC, 4.50%, 05/01/2029		975		931
LANXESS AG, (Germany), Reg. S, 0.63%, 12/01/2029	EUR	500		440
Linde Finance BV, (Netherlands),
Reg. S, 0.25%, 05/19/2027	EUR	1,000		986
Reg. S, 0.55%, 05/19/2032	EUR	800		700
Reg. S, 1.00%, 04/20/2028	EUR	1,005		1,006
Linde plc, (Ireland),
Reg. S, 0.00%, 09/30/2026	EUR	500		498
Reg. S, 1.00%, 09/30/2051	EUR	10,400		6,829
Linde, Inc., 1.63%, 12/01/2025	EUR	350		367
LYB International Finance BV, (Netherlands), 4.88%, 03/15/2044		290		257
LYB International Finance II BV, (Netherlands),
0.88%, 09/17/2026	EUR	1,000		1,009
1.63%, 09/17/2031	EUR	1,000		931
3.50%, 03/02/2027		100		95
LYB International Finance III LLC,
3.38%, 10/01/2040		290		218
3.63%, 04/01/2051		217		153
PPG Industries, Inc.,
0.88%, 11/03/2025	EUR	1,000		1,034
1.20%, 03/15/2026		35		32
1.40%, 03/13/2027	EUR	1,000		1,022
2.75%, 06/01/2029	EUR	1,000		1,044
RPM International, Inc.,
2.95%, 01/15/2032		180		152
3.75%, 03/15/2027		740		709
Syensqo SA, (Belgium), Reg. S, 2.75%, 12/02/2027	EUR	1,000		1,051
Westlake Corp., 1.63%, 07/17/2029	EUR	3,000		2,904
Yara International ASA, (Norway), 3.15%, 06/04/2030 (e)		1,000		873
				67,290
Forest Products & Paper — 0.0% (g)
Georgia-Pacific LLC, 8.88%, 05/15/2031		100		123
Mondi Finance Europe GmbH, (Austria), Reg. S, 2.38%, 04/01/2028	EUR	500		519
Mondi Finance plc, (United Kingdom), Reg. S, 1.50%, 04/15/2024	EUR	500		539
				1,181
Iron/Steel — 0.0% (g)
ArcelorMittal SA, (Luxembourg), 6.55%, 11/29/2027		380		395
Nucor Corp.,
2.70%, 06/01/2030		63		56
2.98%, 12/15/2055		28		18
Reliance, Inc.,
1.30%, 08/15/2025		320		302
2.15%, 08/15/2030		1,395		1,170
Steel Dynamics, Inc., 3.25%, 01/15/2031		4,050		3,608
				5,549

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.4%
Barrick PD Australia Finance Pty Ltd., (Australia), 5.95%, 10/15/2039		920		957
BHP Billiton Finance Ltd., (Australia),
Series 10, Reg. S, 3.25%, 09/24/2027	EUR	1,898		2,045
Series 12, Reg. S, 4.30%, 09/25/2042	GBP	13,000		14,502
Series 13, Reg. S, 3.13%, 04/29/2033	EUR	3,242		3,385
Series 17, Reg. S, 1.50%, 04/29/2030	EUR	2,175		2,091
BHP Billiton Finance USA Ltd., (Australia),
4.75%, 02/28/2028		60		60
5.25%, 09/08/2030		89		90
5.50%, 09/08/2053		135		140
Freeport-McMoRan, Inc.,
4.13%, 03/01/2028		1,500		1,433
5.40%, 11/14/2034		24		24
Glencore Capital Finance DAC, (Ireland), Reg. S, 0.75%, 03/01/2029	EUR	1,900		1,782
Glencore Finance Europe Ltd., (Jersey),
Reg. S, 1.50%, 10/15/2026	EUR	3,500		3,576
Reg. S, 3.75%, 04/01/2026	EUR	1,500		1,620
Kinross Gold Corp., (Canada),
4.50%, 07/15/2027		2,500		2,439
6.25%, 07/15/2033 (e)		1,070		1,111
Newmont Corp. / Newcrest Finance Pty Ltd., 5.35%, 03/15/2034 (e)		550		553
Norsk Hydro ASA, (Norway),
Reg. S, 1.13%, 04/11/2025	EUR	2,700		2,834
Reg. S, 2.00%, 04/11/2029	EUR	800		797
Orano SA, (France),
Reg. S, 2.75%, 03/08/2028	EUR	100		104
Reg. S, 5.38%, 05/15/2027	EUR	200		224
Rio Tinto Finance plc, (United Kingdom), Reg. S, 4.00%, 12/11/2029	GBP	2,000		2,453
Rio Tinto Finance USA Ltd., (Australia), 2.75%, 11/02/2051		246		159
Southern Copper Corp.,
3.88%, 04/23/2025		140		137
5.25%, 11/08/2042		747		708
5.88%, 04/23/2045		9		9
6.75%, 04/16/2040		10		11
7.50%, 07/27/2035		300		347
Yamana Gold, Inc., (Canada), 2.63%, 08/15/2031		2,705		2,254
				45,845
Total Basic Materials				119,865
Communications — 2.5%
Advertising — 0.2%
Interpublic Group of Cos., Inc. (The), 3.38%, 03/01/2041		64		48
JCDecaux SE, (France),
Reg. S, 1.63%, 02/07/2030	EUR	1,000		949
Reg. S, 2.63%, 04/24/2028	EUR	1,000		1,043
Reg. S, 5.00%, 01/11/2029	EUR	4,500		5,102
MMS USA Holdings, Inc.,
Reg. S, 0.63%, 06/13/2025	EUR	2,900		3,016
Reg. S, 1.25%, 06/13/2028	EUR	6,700		6,641
Reg. S, 1.75%, 06/13/2031	EUR	5,000		4,857
				21,656

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.7%
Alphabet, Inc.,
1.90%, 08/15/2040		700		471
2.25%, 08/15/2060		265		152
Amazon.com, Inc.,
3.10%, 05/12/2051		75		54
3.25%, 05/12/2061		15		10
Booking Holdings, Inc.,
0.10%, 03/08/2025	EUR	1,500		1,565
0.50%, 03/08/2028	EUR	4,500		4,371
1.80%, 03/03/2027	EUR	1,500		1,552
2.38%, 09/23/2024	EUR	1,000		1,071
3.60%, 06/01/2026		50		48
3.63%, 11/12/2028	EUR	5,139		5,621
4.13%, 05/12/2033	EUR	762		863
4.50%, 11/15/2031	EUR	3,987		4,599
4.63%, 04/13/2030		315		311
Expedia Group, Inc., 4.63%, 08/01/2027		700		687
Meta Platforms, Inc.,
4.45%, 08/15/2052		410		365
4.65%, 08/15/2062		150		135
5.60%, 05/15/2053		500		529
5.75%, 05/15/2063		455		488
Netflix, Inc.,
Reg. S, 3.00%, 06/15/2025	EUR	1,200		1,284
Reg. S, 3.63%, 06/15/2030	EUR	3,000		3,263
Reg. S, 3.88%, 11/15/2029	EUR	5,550		6,117
4.63%, 05/15/2029	EUR	20,450		23,311
Prosus NV, (Netherlands),
Reg. S, 1.21%, 01/19/2026	EUR	4,000		4,105
Reg. S, 1.29%, 07/13/2029	EUR	9,000		8,229
Reg. S, 1.54%, 08/03/2028	EUR	1,000		961
Reg. S, 1.99%, 07/13/2033	EUR	5,937		4,940
Reg. S, 2.03%, 08/03/2032	EUR	3,900		3,381
Reg. S, 2.09%, 01/19/2030	EUR	1,000		936
Reg. S, 2.78%, 01/19/2034	EUR	2,700		2,352
VeriSign, Inc.,
2.70%, 06/15/2031		1,128		945
4.75%, 07/15/2027		277		273
5.25%, 04/01/2025		267		266
				83,255
Media — 0.5%
Charter Communications Operating LLC / Charter Communications Operating Capital,
2.25%, 01/15/2029		3		3
3.70%, 04/01/2051		2,322		1,437
3.95%, 06/30/2062		330		199
4.80%, 03/01/2050		761		563
5.50%, 04/01/2063		35		27
6.48%, 10/23/2045		62		58

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Comcast Corp.,
0.25%, 09/14/2029	EUR	3,100		2,851
1.88%, 02/20/2036	GBP	575		537
1.95%, 01/15/2031		2,875		2,389
3.20%, 07/15/2036		25		20
3.40%, 07/15/2046		420		314
3.75%, 04/01/2040		300		250
4.25%, 10/15/2030		450		435
4.60%, 10/15/2038		120		112
Cox Communications, Inc.,
3.50%, 08/15/2027 (e)		3,180		3,023
3.85%, 02/01/2025 (e)		1,500		1,476
5.45%, 09/15/2028 (e)		700		709
5.70%, 06/15/2033 (e)		820		830
5.80%, 12/15/2053 (e)		580		577
Discovery Communications LLC,
4.13%, 05/15/2029		940		882
5.20%, 09/20/2047		1,100		922
FactSet Research Systems, Inc.,
2.90%, 03/01/2027		965		907
3.45%, 03/01/2032		407		360
Fox Corp., 6.50%, 10/13/2033		950		1,007
Informa plc, (United Kingdom),
Reg. S, 1.25%, 04/22/2028	EUR	13,100		12,849
Reg. S, 2.13%, 10/06/2025	EUR	16,250		17,084
Reg. S, 3.13%, 07/05/2026	GBP	1,100		1,325
ITV plc, (United Kingdom), Reg. S, 1.38%, 09/26/2026	EUR	1,500		1,530
Paramount Global,
4.20%, 05/19/2032		95		79
4.60%, 01/15/2045		110		76
4.95%, 05/19/2050		160		113
Pearson Funding plc, (United Kingdom), Reg. S, 3.75%, 06/04/2030	GBP	2,475		2,892
TDF Infrastructure SASU, (France), Reg. S, 1.75%, 12/01/2029	EUR	4,500		4,275
Time Warner Cable LLC,
4.50%, 09/15/2042		300		222
5.50%, 09/01/2041		800		667
Vivendi SE, (France), Reg. S, 1.13%, 12/11/2028	EUR	1,200		1,230
Wolters Kluwer NV, (Netherlands),
Reg. S, 0.25%, 03/30/2028	EUR	1,500		1,441
Reg. S, 0.75%, 07/03/2030	EUR	1,475		1,370
Reg. S, 1.50%, 03/22/2027	EUR	4,375		4,480
				69,521
Telecommunications — 1.1%
A1 Towers Holding GmbH, (Austria), Reg. S, 5.25%, 07/13/2028	EUR	22,500		25,544
America Movil SAB de CV, (Mexico),
2.13%, 03/10/2028	EUR	1,300		1,334
4.38%, 08/07/2041	GBP	1,500		1,687
5.00%, 10/27/2026	GBP	1,200		1,514

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
AT&T, Inc.,
1.65%, 02/01/2028		21		19
1.70%, 03/25/2026		544		509
1.80%, 09/05/2026	EUR	2,250		2,339
2.05%, 05/19/2032	EUR	200		194
2.45%, 03/15/2035	EUR	825		792
3.50%, 06/01/2041		2,155		1,685
3.65%, 06/01/2051		1,800		1,324
3.65%, 09/15/2059		195		136
3.80%, 02/15/2027		38		37
4.25%, 06/01/2043	GBP	200		210
4.30%, 12/15/2042		32		27
4.85%, 03/01/2039		342		319
5.40%, 02/15/2034		310		314
7.00%, 04/30/2040	GBP	400		578
Chorus Ltd., (New Zealand), Reg. S, 3.63%, 09/07/2029	EUR	2,650		2,863
Cisco Systems, Inc.,
5.30%, 02/26/2054		280		288
5.35%, 02/26/2064		160		164
Corning, Inc., 5.45%, 11/15/2079		115		109
Emirates Telecommunications Group Co. PJSC, (United Arab Emirates), Reg. S, 0.88%, 05/17/2033	EUR	1,600		1,385
Koninklijke KPN NV, (Netherlands),
Reg. S, 3.88%, 07/03/2031	EUR	6,200		6,881
Reg. S, 3.88%, 02/16/2036	EUR	5,100		5,561
Reg. S, 5.75%, 09/17/2029	GBP	5,000		6,585
Motorola Solutions, Inc.,
2.30%, 11/15/2030		137		115
2.75%, 05/24/2031		1,570		1,332
4.60%, 05/23/2029		40		39
5.40%, 04/15/2034		1,890		1,886
5.50%, 09/01/2044		975		962
NBN Co. Ltd., (Australia),
Reg. S, 4.13%, 03/15/2029	EUR	2,000		2,235
5.75%, 10/06/2028 (e)		765		790
NTT Finance Corp., (Japan),
Reg. S, 0.01%, 03/03/2025	EUR	500		521
Reg. S, 0.08%, 12/13/2025	EUR	1,000		1,020
Reg. S, 0.34%, 03/03/2030	EUR	500		456
Reg. S, 0.40%, 12/13/2028	EUR	1,000		948
O2 Telefonica Deutschland Finanzierungs GmbH, (Germany), Reg. S, 1.75%, 07/05/2025	EUR	1,000		1,051
Optus Finance Pty Ltd., (Australia), Reg. S, 1.00%, 06/20/2029	EUR	1,400		1,313
Orange SA, (France),
Reg. S, 0.00%, 09/04/2026	EUR	2,000		1,992
Reg. S, 0.50%, 09/04/2032	EUR	2,000		1,725
Reg. S, 3.25%, 01/15/2032	GBP	1,100		1,262
OTE plc, (United Kingdom), Reg. S, 0.88%, 09/24/2026	EUR	100		101

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Proximus SADP, (Belgium),
Reg. S, 0.75%, 11/17/2036	EUR	100		77
Reg. S, 1.88%, 10/01/2025	EUR	100		105
Reg. S, 4.13%, 11/17/2033	EUR	100		113
Rogers Communications, Inc., (Canada), 5.30%, 02/15/2034		1,550		1,538
SES SA, (Luxembourg), Reg. S, 3.50%, 01/14/2029	EUR	2,300		2,435
Sprint Capital Corp.,
6.88%, 11/15/2028		3,601		3,833
8.75%, 03/15/2032		430		520
Sprint LLC, 7.63%, 02/15/2025		2,800		2,835
Telefonaktiebolaget LM Ericsson, (Sweden), Reg. S, 1.00%, 05/26/2029	EUR	2,715		2,483
Telefonica Emisiones SA, (Spain), Reg. S, 1.86%, 07/13/2040	EUR	4,200		3,459
Telekom Finanzmanagement GmbH, (Austria), Reg. S, 1.50%, 12/07/2026	EUR	200		206
Telenor ASA, (Norway),
Reg. S, 0.25%, 02/14/2028	EUR	1,300		1,249
Reg. S, 0.75%, 05/31/2026	EUR	3,000		3,060
Telia Co. AB, (Sweden), Reg. S, 2.13%, 02/20/2034	EUR	700		682
Telstra Corp. Ltd., (Australia), Reg. S, 1.00%, 04/23/2030	EUR	3,500		3,324
Telstra Group Ltd., (Australia), Reg. S, 3.75%, 05/04/2031	EUR	8,425		9,310
T-Mobile USA, Inc.,
2.05%, 02/15/2028		400		358
2.55%, 02/15/2031		620		528
2.63%, 04/15/2026		10		10
3.30%, 02/15/2051		120		84
3.60%, 11/15/2060		339		238
3.75%, 04/15/2027		291		280
3.88%, 04/15/2030		3,420		3,203
4.38%, 04/15/2040		92		82
5.15%, 04/15/2034		160		160
5.50%, 01/15/2055		340		340
5.75%, 01/15/2054		40		42
5.80%, 09/15/2062		60		62
Verizon Communications, Inc.,
0.88%, 04/02/2025	EUR	750		788
0.88%, 04/08/2027	EUR	475		477
1.68%, 10/30/2030		78		64
2.50%, 04/08/2031	GBP	1,000		1,086
2.55%, 03/21/2031		437		374
2.65%, 11/20/2040		950		670
3.25%, 02/17/2026	EUR	200		215
3.55%, 03/22/2051		70		52
3.88%, 03/01/2052		370		291
4.02%, 12/03/2029		12		11
4.13%, 08/15/2046		18		15
4.27%, 01/15/2036		418		385
4.33%, 09/21/2028		180		176
4.75%, 10/31/2034	EUR	200		237
				125,603
Total Communications				300,035

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Consumer Cyclical — 3.0%
Airlines — 0.2%
easyJet FinCo. BV, (Netherlands), Reg. S, 1.88%, 03/03/2028	EUR	8,600		8,684
easyJet plc, (United Kingdom), Reg. S, 3.75%, 03/20/2031	EUR	7,425		7,953
Ryanair DAC, (Ireland),
Reg. S, 0.88%, 05/25/2026	EUR	1,500		1,527
Reg. S, 2.88%, 09/15/2025	EUR	1,000		1,068
Southwest Airlines Co., 5.13%, 06/15/2027		1,150		1,148
United Airlines, Inc.,
4.38%, 04/15/2026 (e)		525		508
4.63%, 04/15/2029 (e)		360		335
				21,223
Apparel — 0.1%
Burberry Group plc, (United Kingdom), Reg. S, 1.13%, 09/21/2025	GBP	825		976
LVMH Moet Hennessy Louis Vuitton SE, (France),
Reg. S, 0.13%, 02/11/2028	EUR	800		776
Reg. S, 0.75%, 04/07/2025	EUR	300		315
Reg. S, 1.13%, 02/11/2027	GBP	1,200		1,383
PVH Corp., Reg. S, 3.13%, 12/15/2027	EUR	2,000		2,117
Tapestry, Inc.,
3.05%, 03/15/2032		955		785
7.05%, 11/27/2025		70		71
7.35%, 11/27/2028		310		327
7.70%, 11/27/2030		130		139
7.85%, 11/27/2033		1,185		1,287
				8,176
Auto Manufacturers — 1.3%
American Honda Finance Corp.,
0.75%, 11/25/2026	GBP	4,800		5,492
1.50%, 10/19/2027	GBP	2,300		2,623
3.75%, 10/25/2027	EUR	3,300		3,605
4.90%, 01/10/2034		530		522
5.60%, 09/06/2030	GBP	4,875		6,466
Cummins, Inc.,
5.15%, 02/20/2034		150		151
5.45%, 02/20/2054		115		118
Dongfeng Motor Hong Kong International Co. Ltd., (Hong Kong), Reg. S, 0.43%, 10/19/2024	EUR	600		630
Ford Motor Co., 3.25%, 02/12/2032		700		582
Ford Motor Credit Co. LLC,
4.00%, 11/13/2030		545		487
4.45%, 02/14/2030	EUR	6,275		6,881
4.95%, 05/28/2027		3,065		2,991
5.80%, 03/05/2027		505		507
5.80%, 03/08/2029		715		718
6.80%, 11/07/2028		1,310		1,368
General Motors Co.,
5.20%, 04/01/2045		560		504
6.25%, 10/02/2043		120		123
6.60%, 04/01/2036		520		553

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
General Motors Financial Co., Inc.,
Reg. S, 1.69%, 03/26/2025	EUR	1,475		1,557
Reg. S, 2.35%, 09/03/2025	GBP	8,725		10,540
2.35%, 02/26/2027		110		102
2.70%, 08/20/2027		1,450		1,337
2.70%, 06/10/2031		585		488
2.75%, 06/20/2025		330		319
5.00%, 04/09/2027		1,120		1,112
5.40%, 05/08/2027		380		381
5.75%, 02/08/2031		135		136
Hyundai Capital America, 6.50%, 01/16/2029 (e)		1,085		1,139
Mercedes-Benz Finance North America LLC, 5.00%, 01/11/2034 (e)		210		208
Mercedes-Benz Group AG, (Germany), Reg. S, 1.13%, 11/06/2031	EUR	15		14
Nissan Motor Acceptance Co. LLC, 1.13%, 09/16/2024 (e)		1,600		1,564
Nissan Motor Co. Ltd., (Japan),
Reg. S, 2.65%, 03/17/2026	EUR	4,800		5,045
3.52%, 09/17/2025 (e)		3,000		2,893
PACCAR Financial Europe BV, (Netherlands), Reg. S, 3.25%, 11/29/2025	EUR	8,750		9,393
RCI Banque SA, (France),
Reg. S, 1.13%, 01/15/2027	EUR	5,000		5,041
Reg. S, 4.75%, 07/06/2027	EUR	2,100		2,330
Stellantis NV, (Netherlands), Reg. S, 4.38%, 03/14/2030	EUR	2,075		2,348
Toyota Finance Australia Ltd., (Australia), Reg. S, 3.39%, 03/18/2030	EUR	9,875		10,691
Toyota Motor Credit Corp.,
0.80%, 01/09/2026		200		186
3.65%, 08/18/2025		580		569
Reg. S, 3.85%, 07/24/2030	EUR	2,630		2,912
3.95%, 06/30/2025		175		172
4.80%, 01/10/2025		25		25
5.00%, 08/14/2026		40		40
Toyota Motor Finance Netherlands BV, (Netherlands),
Reg. S, 3.13%, 07/11/2029	EUR	1,496		1,602
Reg. S, 4.00%, 04/02/2027	EUR	10,525		11,557
Traton Finance Luxembourg SA, (Luxembourg), Reg. S, 3.75%, 03/27/2030	EUR	29,700		31,970
Volkswagen Bank GmbH, (Germany), Reg. S, 1.25%, 12/15/2025	EUR	1,000		1,037
Volkswagen Financial Services AG, (Germany),
Reg. S, 1.50%, 10/01/2024	EUR	1,000		1,065
Reg. S, 2.25%, 10/16/2026	EUR	10		11
Reg. S, 3.00%, 04/06/2025	EUR	20		21
Reg. S, 3.38%, 04/06/2028	EUR	1,450		1,557
Volkswagen Financial Services NV, (Netherlands), Reg. S, 1.13%, 07/05/2026	GBP	1,000		1,156
Volkswagen Group of America Finance LLC, 5.30%, 03/22/2027 (e)		1,540		1,544
Volkswagen International Finance NV, (Netherlands),
Reg. S, (EUR Swap Rate 5 Year + 3.75%), 3.50%, 06/17/2025 (x) (aa)	EUR	1,000		1,057
Reg. S, (EUR Swap Rate 9 Year + 3.96%), 3.88%, 06/17/2029 (x) (aa)	EUR	2,000		1,996
Reg. S, (EUR Swap Rate 12 Year + 2.97%), 4.63%, 03/24/2026 (x) (aa)	EUR	210		225
Volkswagen Leasing GmbH, (Germany),
Reg. S, 0.38%, 07/20/2026	EUR	1,500		1,501
Reg. S, 1.50%, 06/19/2026	EUR	5,000		5,148
				156,310

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.1%
BorgWarner, Inc., 1.00%, 05/19/2031	EUR	1,500		1,343
Cie Generale des Etablissements Michelin SCA, (France), Reg. S, 0.63%, 11/02/2040	EUR	300		218
Magna International, Inc., (Canada),
2.45%, 06/15/2030		1,000		866
4.15%, 10/01/2025		2,000		1,969
Pirelli & C SpA, (Italy), Reg. S, 4.25%, 01/18/2028	EUR	2,925		3,221
Robert Bosch GmbH, (Germany), Reg. S, 4.00%, 06/02/2035	EUR	4,500		5,057
				12,674
Distribution/Wholesale — 0.2%
Bunzl Finance plc, (United Kingdom), Reg. S, 1.50%, 10/30/2030	GBP	1,050		1,085
IMCD NV, (Netherlands),
Reg. S, 2.13%, 03/31/2027	EUR	4,100		4,195
Reg. S, 4.88%, 09/18/2028	EUR	14,250		15,943
LKQ Corp., 5.75%, 06/15/2028		70		71
LKQ Dutch Bond BV, (Netherlands), 4.13%, 03/13/2031	EUR	4,675		5,113
				26,407
Entertainment — 0.1%
Smithsonian Institution, 1.87%, 09/01/2029		1,000		862
Universal Music Group NV, (Netherlands),
Reg. S, 3.75%, 06/30/2032	EUR	3,700		4,059
Reg. S, 4.00%, 06/13/2031	EUR	4,200		4,684
Warnermedia Holdings, Inc.,
5.05%, 03/15/2042		705		606
5.14%, 03/15/2052		1,140		947
				11,158
Food Service — 0.2%
Compass Group plc, (United Kingdom),
Reg. S, 2.00%, 07/03/2029	GBP	2,500		2,810
Reg. S, 3.25%, 02/06/2031	EUR	4,575		4,934
Reg. S, 3.85%, 06/26/2026	GBP	5,000		6,193
Sodexo SA, (France),
Reg. S, 0.75%, 04/27/2025	EUR	1,000		1,045
Reg. S, 1.00%, 07/17/2028	EUR	500		496
Reg. S, 1.00%, 04/27/2029	EUR	1,000		981
Reg. S, 2.50%, 06/24/2026	EUR	500		530
				16,989
Home Builders — 0.0% (g)
Berkeley Group plc (The), (United Kingdom), Reg. S, 2.50%, 08/11/2031	GBP	172		168
Lennar Corp., 5.00%, 06/15/2027		100		99
MDC Holdings, Inc., 6.00%, 01/15/2043		35		35
Meritage Homes Corp., 3.88%, 04/15/2029 (e)		140		129
NVR, Inc., 3.00%, 05/15/2030		1,082		961
PulteGroup, Inc.,
6.38%, 05/15/2033		174		185
7.88%, 06/15/2032		290		337
Toll Brothers Finance Corp., 3.80%, 11/01/2029		690		644
				2,558

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.0% (g)
Brunswick Corp.,
5.10%, 04/01/2052		360		296
5.85%, 03/18/2029		395		399
				695
Lodging — 0.6%
Accor SA, (France),
Reg. S, 1.75%, 02/04/2026	EUR	6,900		7,188
Reg. S, 2.38%, 11/29/2028	EUR	10,000		10,270
Reg. S, 3.88%, 03/11/2031	EUR	6,000		6,525
Choice Hotels International, Inc., 3.70%, 12/01/2029		52		46
Hyatt Hotels Corp.,
1.80%, 10/01/2024		400		391
4.38%, 09/15/2028		100		97
IHG Finance LLC, Reg. S, 4.38%, 11/28/2029	EUR	24,425		27,262
InterContinental Hotels Group plc, (United Kingdom),
Reg. S, 1.63%, 10/08/2024	EUR	1,500		1,598
Reg. S, 2.13%, 08/24/2026	GBP	600		704
Reg. S, 2.13%, 05/15/2027	EUR	4,933		5,104
Reg. S, 3.38%, 10/08/2028	GBP	450		531
Reg. S, 3.75%, 08/14/2025	GBP	2,100		2,588
Marriott International, Inc.,
4.88%, 05/15/2029		270		267
5.00%, 10/15/2027		995		993
5.30%, 05/15/2034		540		534
5.45%, 09/15/2026		777		781
Series HH, 2.85%, 04/15/2031		1,244		1,073
Whitbread Group plc, (United Kingdom),
Reg. S, 2.38%, 05/31/2027	GBP	1,000		1,153
Reg. S, 3.00%, 05/31/2031	GBP	7,000		7,680
				74,785
Retail — 0.2%
Alimentation Couche-Tard, Inc., (Canada),
4.01%, 02/12/2036 (e)	EUR	1,100		1,193
5.27%, 02/12/2034 (e)		560		559
AutoNation, Inc., 4.75%, 06/01/2030		1,300		1,249
AutoZone, Inc.,
1.65%, 01/15/2031		2,595		2,093
4.75%, 02/01/2033		850		822
5.05%, 07/15/2026		70		70
5.20%, 08/01/2033		215		215
6.25%, 11/01/2028		240		252
Costco Wholesale Corp., 1.60%, 04/20/2030		40		34
Darden Restaurants, Inc., 6.30%, 10/10/2033		120		125
Dick's Sporting Goods, Inc., 4.10%, 01/15/2052		240		174
Genuine Parts Co., 1.75%, 02/01/2025		35		34
Greene King Finance plc, (United Kingdom), Series A2, 5.32%, 09/15/2031	GBP	26		32
Home Depot, Inc. (The),
2.50%, 04/15/2027		100		94
4.20%, 04/01/2043		948		827

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Lowe's Cos., Inc.,
3.00%, 10/15/2050		50		33
3.35%, 04/01/2027		40		38
4.50%, 04/15/2030		100		98
McDonald's Corp.,
Reg. S, 0.90%, 06/15/2026	EUR	1,500		1,534
Reg. S, 1.75%, 05/03/2028	EUR	1,000		1,015
Reg. S, 1.88%, 05/26/2027	EUR	1,000		1,033
Reg. S, 2.38%, 11/27/2024	EUR	1,500		1,603
Reg. S, 2.38%, 05/31/2029	EUR	200		206
3.63%, 09/01/2049		528		402
4.60%, 05/26/2045		150		135
O'Reilly Automotive, Inc.,
3.60%, 09/01/2027		66		63
3.90%, 06/01/2029		2		2
4.20%, 04/01/2030		78		74
4.70%, 06/15/2032		16		16
5.75%, 11/20/2026		170		173
Pandora A/S, (Denmark), Reg. S, 4.50%, 04/10/2028	EUR	6,225		6,927
Roadster Finance DAC, (Ireland),
Reg. S, 1.63%, 12/09/2024	EUR	500		528
Reg. S, 2.38%, 12/08/2027	EUR	500		482
Starbucks Corp., 4.75%, 02/15/2026		245		244
Walmart, Inc.,
2.55%, 04/08/2026	EUR	2,550		2,719
2.65%, 09/22/2051		20		13
4.50%, 09/09/2052		145		134
4.50%, 04/15/2053		179		166
				25,411
Total Consumer Cyclical				356,386
Consumer Non-cyclical — 4.9%
Agriculture — 0.7%
Altria Group, Inc.,
1.70%, 06/15/2025	EUR	2,000		2,103
2.20%, 06/15/2027	EUR	2,100		2,164
3.13%, 06/15/2031	EUR	2,000		2,014
3.40%, 02/04/2041		615		452
3.70%, 02/04/2051		530		371
3.88%, 09/16/2046		885		664
4.00%, 02/04/2061		550		404
5.80%, 02/14/2039		16		16
5.95%, 02/14/2049		90		91
6.20%, 11/01/2028		725		756
6.20%, 02/14/2059		28		29
Archer-Daniels-Midland Co., 1.00%, 09/12/2025	EUR	1,500		1,552
BAT Capital Corp.,
2.26%, 03/25/2028		100		89
2.79%, 09/06/2024		485		479
3.22%, 08/15/2024		58		58

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
3.56%, 08/15/2027		646		612
3.73%, 09/25/2040		45		33
4.54%, 08/15/2047		110		85
4.76%, 09/06/2049		85		68
5.83%, 02/20/2031		185		187
6.00%, 02/20/2034		105		106
7.08%, 08/02/2043		120		128
7.08%, 08/02/2053		105		114
BAT International Finance plc, (United Kingdom),
Reg. S, 1.25%, 03/13/2027	EUR	625		631
Reg. S, 2.00%, 03/13/2045	EUR	200		146
Reg. S, 2.25%, 06/26/2028	GBP	2,000		2,236
Reg. S, 2.25%, 01/16/2030	EUR	2,500		2,476
Reg. S, 2.25%, 09/09/2052	GBP	1,500		843
Reg. S, 3.13%, 03/06/2029	EUR	5,959		6,311
Reg. S, 4.00%, 09/04/2026	GBP	3,450		4,235
4.45%, 03/16/2028		150		146
5.93%, 02/02/2029		1,825		1,874
Reg. S, 6.00%, 11/24/2034	GBP	600		756
Cargill, Inc.,
1.70%, 02/02/2031 (e)		750		609
2.13%, 04/23/2030 (e)		1,500		1,284
Imperial Brands Finance plc, (United Kingdom),
Reg. S, 3.38%, 02/26/2026	EUR	1,161		1,244
Reg. S, 5.50%, 09/28/2026	GBP	4,000		5,053
JT International Financial Services BV, (Netherlands),
Reg. S, 1.00%, 11/26/2029	EUR	9,700		9,303
Reg. S, 1.13%, 09/28/2025	EUR	6,600		6,832
Reg. S, (EUR Swap Rate 5 Year + 2.79%), 2.38%, 04/07/2081 (aa)	EUR	3,000		3,114
Reg. S, 2.75%, 09/28/2033	GBP	9,475		9,919
Reg. S, (EUR Swap Rate 5 Year + 3.18%), 2.88%, 10/07/2083 (aa)	EUR	2,500		2,539
Philip Morris International, Inc.,
0.13%, 08/03/2026	EUR	1,000		999
1.50%, 05/01/2025		34		32
1.75%, 11/01/2030		70		57
3.13%, 06/03/2033	EUR	1,000		1,034
4.25%, 11/10/2044		1,545		1,295
4.88%, 11/15/2043		105		96
5.13%, 02/13/2031		635		632
5.25%, 02/13/2034		1,400		1,389
6.38%, 05/16/2038		685		749
STG Global Finance BV, (Netherlands), Reg. S, 1.38%, 09/24/2025	EUR	344		352
Sudzucker International Finance BV, (Netherlands), Reg. S, 5.13%, 10/31/2027	EUR	500		563
Viterra Finance BV, (Netherlands),
Reg. S, 0.38%, 09/24/2025	EUR	1,000		1,022
Reg. S, 1.00%, 09/24/2028	EUR	2,050		1,969
				82,315

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.4%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.,
4.70%, 02/01/2036		1,700		1,652
4.90%, 02/01/2046		1,655		1,570
Anheuser-Busch InBev SA, (Belgium), Reg. S, 2.75%, 03/17/2036	EUR	10		10
Anheuser-Busch InBev Worldwide, Inc., 4.35%, 06/01/2040		55		50
Carlsberg Breweries A/S, (Denmark), Reg. S, 3.50%, 11/26/2026	EUR	4,100		4,436
CCEP Finance Ireland DAC, (Ireland),
Reg. S, 0.00%, 09/06/2025	EUR	3,000		3,070
Reg. S, 0.50%, 09/06/2029	EUR	2,400		2,234
Coca-Cola Co. (The),
0.13%, 03/09/2029	EUR	4,800		4,501
0.50%, 03/09/2033	EUR	3,000		2,581
1.25%, 03/08/2031	EUR	1,000		957
2.75%, 06/01/2060		175		114
3.00%, 03/05/2051		230		164
3.45%, 03/25/2030		640		602
Coca-Cola Europacific Partners plc, (United Kingdom),
Reg. S, 1.13%, 04/12/2029	EUR	1,000		971
Reg. S, 1.75%, 03/27/2026	EUR	2,000		2,088
Reg. S, 2.38%, 05/07/2025	EUR	3,900		4,148
Coca-Cola HBC Finance BV, (Netherlands), Reg. S, 1.63%, 05/14/2031	EUR	1,900		1,825
Constellation Brands, Inc.,
2.25%, 08/01/2031		50		41
4.35%, 05/09/2027		285		279
Diageo Capital plc, (United Kingdom),
2.13%, 04/29/2032		970		791
5.30%, 10/24/2027		630		639
Diageo Finance plc, (United Kingdom),
Reg. S, 1.25%, 03/28/2033	GBP	3,000		2,909
Reg. S, 2.50%, 03/27/2032	EUR	600		616
Reg. S, 2.75%, 06/08/2038	GBP	625		623
Heineken NV, (Netherlands), Reg. S, 2.88%, 08/04/2025	EUR	1,300		1,389
PepsiCo., Inc.,
0.40%, 10/09/2032	EUR	3,750		3,244
0.75%, 10/14/2033	EUR	2,950		2,571
1.13%, 03/18/2031	EUR	1,000		950
4.20%, 07/18/2052		425		372
4.65%, 02/15/2053		15		14
Pernod Ricard SA, (France), Reg. S, 1.13%, 04/07/2025	EUR	3,100		3,260
				48,671
Biotechnology — 0.1%
Amgen, Inc.,
1.90%, 02/21/2025		130		126
4.05%, 08/18/2029		339		326
4.40%, 05/01/2045		640		556
5.15%, 03/02/2028		110		111
5.25%, 03/02/2033		1,505		1,521
5.60%, 03/02/2043		615		626
5.65%, 03/02/2053		450		459

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Gilead Sciences, Inc.,
3.65%, 03/01/2026		680		663
5.55%, 10/15/2053		385		399
H Lundbeck A/S, (Denmark), Reg. S, 0.88%, 10/14/2027	EUR	8,200		7,981
Regeneron Pharmaceuticals, Inc.,
1.75%, 09/15/2030		840		687
2.80%, 09/15/2050		1,185		748
				14,203
Commercial Services — 1.5%
Abertis Infraestructuras SA, (Spain), Reg. S, 3.38%, 11/27/2026	GBP	10,400		12,475
Adecco International Financial Services BV, (Netherlands), Reg. S, 1.25%, 11/20/2029	EUR	3,000		2,901
ALD SA, (France), Reg. S, 1.25%, 03/02/2026	EUR	3,000		3,084
Amadeus IT Group SA, (Spain),
Reg. S, 1.50%, 09/18/2026	EUR	1,000		1,037
Reg. S, 2.50%, 05/20/2024	EUR	1,000		1,077
Reg. S, 2.88%, 05/20/2027	EUR	500		531
American University (The), Series 2019, 3.67%, 04/01/2049		80		65
APRR SA, (France), Reg. S, 1.88%, 01/03/2029	EUR	4,000		4,074
ASTM SpA, (Italy),
Reg. S, 1.00%, 11/25/2026	EUR	1,000		1,009
Reg. S, 1.63%, 02/08/2028	EUR	500		501
Automatic Data Processing, Inc., 1.25%, 09/01/2030		90		74
Autoroutes du Sud de la France SA, (France), Reg. S, 1.25%, 01/18/2027	EUR	3,900		3,993
Autostrade per l'Italia SpA, (Italy),
Reg. S, 1.63%, 01/25/2028	EUR	7,000		6,999
Reg. S, 1.75%, 06/26/2026	EUR	7,000		7,230
Reg. S, 2.25%, 01/25/2032	EUR	7,000		6,655
Babcock International Group plc, (United Kingdom), Reg. S, 1.38%, 09/13/2027	EUR	16,627		16,534
California Institute of Technology, 4.70%, 11/01/2111		25		22
Case Western Reserve University, Series 22-C, 5.41%, 06/01/2122		50		49
Central Nippon Expressway Co. Ltd., (Japan),
Reg. S, 0.89%, 09/29/2025		1,500		1,402
Reg. S, 0.89%, 12/10/2025		200		185
Reg. S, 1.87%, 09/26/2024	AUD	1,000		641
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		100
Cintas Corp. No. 2,
3.70%, 04/01/2027		30		29
4.00%, 05/01/2032		280		264
Claremont Mckenna College, 3.78%, 01/01/2122		50		34
Duke University, Series 2020, 2.68%, 10/01/2044		20		15
East Nippon Expressway Co. Ltd., (Japan), Series 66, 0.10%, 12/18/2026	JPY	100,000		655
Edenred SE, (France),
Reg. S, 1.38%, 03/10/2025	EUR	1,000		1,055
Reg. S, 1.38%, 06/18/2029	EUR	1,000		975
Reg. S, 1.88%, 03/06/2026	EUR	500		523
Elis SA, (France), Reg. S, 3.75%, 03/21/2030	EUR	3,600		3,866
Equifax, Inc., 3.10%, 05/15/2030		1,800		1,608

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
ERAC USA Finance LLC,
3.85%, 11/15/2024 (e)		160		158
4.50%, 02/15/2045 (e)		400		353
4.60%, 05/01/2028 (e)		1,100		1,087
4.90%, 05/01/2033 (e)		865		849
7.00%, 10/15/2037 (e)		800		913
Experian Finance plc, (United Kingdom),
Reg. S, 0.74%, 10/29/2025	GBP	600		709
Reg. S, 1.38%, 06/25/2026	EUR	2,625		2,701
Reg. S, 3.25%, 04/07/2032	GBP	425		490
George Washington University (The), Series 2014, 4.30%, 09/15/2044		30		27
Global Payments, Inc.,
3.20%, 08/15/2029		585		525
4.88%, 03/17/2031	EUR	2,050		2,329
Holding d'Infrastructures de Transport SASU, (France),
Reg. S, 0.63%, 09/14/2028	EUR	300		286
Reg. S, 2.50%, 05/04/2027	EUR	1,600		1,672
Johns Hopkins University, Series A, 2.81%, 01/01/2060		600		387
ManpowerGroup, Inc.,
Reg. S, 1.75%, 06/22/2026	EUR	1,000		1,038
Reg. S, 3.50%, 06/30/2027	EUR	500		541
Massachusetts Institute of Technology,
3.89%, 07/01/2116		663		505
4.68%, 07/01/2114		650		594
Series F, 2.99%, 07/01/2050		20		14
Moody's Corp., 1.75%, 03/09/2027	EUR	1,125		1,163
Northwestern University, Series 2020, 2.64%, 12/01/2050		10		7
President and Fellows of Harvard College, 2.52%, 10/15/2050		10		7
Prosegur Cash SA, (Spain), Reg. S, 1.38%, 02/04/2026	EUR	1,500		1,548
Quanta Services, Inc.,
2.35%, 01/15/2032		520		423
2.90%, 10/01/2030		455		398
3.05%, 10/01/2041		240		172
RELX Capital, Inc.,
1.30%, 05/12/2025	EUR	500		525
4.75%, 05/20/2032		610		605
RELX Finance BV, (Netherlands),
Reg. S, 0.50%, 03/10/2028	EUR	500		486
Reg. S, 0.88%, 03/10/2032	EUR	15,400		13,869
Reg. S, 1.38%, 05/12/2026	EUR	1,000		1,035
Reg. S, 1.50%, 05/13/2027	EUR	4,500		4,620
Reg. S, 3.38%, 03/20/2033	EUR	6,425		6,944
Reg. S, 3.75%, 06/12/2031	EUR	12,000		13,286
Rentokil Initial plc, (United Kingdom), Reg. S, 5.00%, 06/27/2032	GBP	4,000		5,045
Rockefeller Foundation (The), Series 2020, 2.49%, 10/01/2050		5		3
S&P Global, Inc.,
2.30%, 08/15/2060		351		193
2.45%, 03/01/2027		335		314
5.25%, 09/15/2033 (e)		325		332
Securitas Treasury Ireland DAC, (Ireland), Reg. S, 3.88%, 02/23/2030	EUR	11,700		12,725

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		2,443
Thomas Jefferson University, 3.85%, 11/01/2057		50		38
Transurban Finance Co. Pty Ltd., (Australia),
Reg. S, 1.45%, 05/16/2029	EUR	2,000		1,955
Reg. S, 2.00%, 08/28/2025	EUR	3,000		3,167
Reg. S, 3.00%, 04/08/2030	EUR	3,100		3,252
Reg. S, 4.23%, 04/26/2033	EUR	4,050		4,559
Trustees of Princeton University (The),
4.20%, 03/01/2052		1,295		1,179
Series 2020, 2.52%, 07/01/2050		20		13
University of Oxford, (United Kingdom), Reg. S, 2.54%, 12/08/2117	GBP	1,500		1,046
University of Southern California,
2.81%, 10/01/2050		20		14
4.98%, 10/01/2053		706		712
Series 21A, 2.95%, 10/01/2051		10		7
Verisk Analytics, Inc.,
5.50%, 06/15/2045		278		271
5.75%, 04/01/2033		117		122
Washington University (The),
4.35%, 04/15/2122		255		214
Series 2022, 3.52%, 04/15/2054		900		701
Wellcome Trust Ltd. (The), (United Kingdom),
Reg. S, 1.50%, 07/14/2071	GBP	1,500		786
Reg. S, 2.52%, 02/07/2118	GBP	200		138
West Nippon Expressway Co. Ltd., (Japan), Series 29, 0.31%, 02/12/2026	JPY	200,000		1,320
Worldline SA, (France), Reg. S, 0.25%, 09/18/2024	EUR	500		529
				181,006
Cosmetics/Personal Care — 0.3%
Colgate-Palmolive Co., 3.70%, 08/01/2047		170		142
Procter & Gamble Co. (The),
0.35%, 05/05/2030	EUR	2,800		2,594
0.63%, 10/30/2024	EUR	1,450		1,536
1.88%, 10/30/2038	EUR	325		300
4.55%, 01/29/2034		1,200		1,194
4.88%, 05/11/2027	EUR	425		484
Reckitt Benckiser Treasury Services Nederland BV, (Netherlands), Reg. S, 0.75%, 05/19/2030	EUR	200		184
Unilever Finance Netherlands BV, (Netherlands),
Reg. S, 0.75%, 02/28/2026	EUR	2,475		2,551
Reg. S, 1.13%, 02/12/2027	EUR	825		843
Reg. S, 1.13%, 04/29/2028	EUR	1,000		1,000
Reg. S, 1.25%, 02/28/2031	EUR	1,500		1,434
Reg. S, 1.75%, 11/16/2028	EUR	6,000		6,120
Reg. S, 1.75%, 03/25/2030	EUR	6,000		6,027
Reg. S, 3.50%, 02/23/2035	EUR	7,150		7,896
				32,305
Food — 0.4%
Campbell Soup Co., 5.30%, 03/20/2026		210		210
General Mills, Inc.,
0.13%, 11/15/2025	EUR	1,000		1,020
0.45%, 01/15/2026	EUR	3,000		3,061
2.88%, 04/15/2030		446		397

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Hershey Co. (The),
0.90%, 06/01/2025		255		243
1.70%, 06/01/2030		285		239
2.65%, 06/01/2050		8		5
4.50%, 05/04/2033		333		329
Hormel Foods Corp., 1.70%, 06/03/2028		74		66
JBS USA LUX SA / JBS USA Food Co. / JBS Luxembourg Sarl, (Multinational),
6.75%, 03/15/2034 (e)		10		10
7.25%, 11/15/2053 (e)		70		75
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., (Multinational),
3.00%, 05/15/2032		575		469
4.38%, 02/02/2052		43		31
5.75%, 04/01/2033		1,344		1,324
6.50%, 12/01/2052		440		435
Kellanova,
0.50%, 05/20/2029	EUR	1,500		1,397
1.00%, 05/17/2024	EUR	500		537
1.25%, 03/10/2025	EUR	500		527
Kerry Group Financial Services Unltd Co., (Ireland), Reg. S, 2.38%, 09/10/2025	EUR	2,700		2,857
Kraft Heinz Foods Co.,
Reg. S, 1.50%, 05/24/2024	EUR	1,000		1,075
Reg. S, 2.25%, 05/25/2028	EUR	1,000		1,032
Reg. S, 4.13%, 07/01/2027	GBP	5,000		6,196
Kroger Co. (The), 3.95%, 01/15/2050		5		4
Mars, Inc., 2.38%, 07/16/2040 (e)		1,200		838
Mondelez International Holdings Netherlands BV, (Netherlands),
Reg. S, 0.25%, 09/09/2029	EUR	1,000		922
Reg. S, 0.38%, 09/22/2029	EUR	200		184
Mondelez International, Inc.,
0.25%, 03/17/2028	EUR	1,000		960
0.75%, 03/17/2033	EUR	500		430
1.50%, 02/04/2031		1,000		799
Nestle Capital Corp., 5.10%, 03/12/2054 (e)		610		607
Nestle Finance International Ltd., (Luxembourg),
Reg. S, 0.00%, 06/14/2026	EUR	1,500		1,512
Reg. S, 0.38%, 05/12/2032	EUR	936		829
Reg. S, 1.25%, 03/29/2031	EUR	1,200		1,158
Reg. S, 3.00%, 03/15/2028	EUR	15		16
Nestle Holdings, Inc., Reg. S, 0.88%, 07/18/2025	EUR	50		52
Pilgrim's Pride Corp.,
3.50%, 03/01/2032		315		268
6.25%, 07/01/2033		875		894
REWE International Finance BV, (Netherlands), Reg. S, 4.88%, 09/13/2030	EUR	5,400		6,162
Tesco Corporate Treasury Services plc, (United Kingdom),
Reg. S, 0.88%, 05/29/2026	EUR	1,500		1,528
Reg. S, 1.88%, 11/02/2028	GBP	1,300		1,462
Reg. S, 2.75%, 04/27/2030	GBP	825		928
Reg. S, 5.50%, 02/27/2035	GBP	5,000		6,416
Tyson Foods, Inc., 5.70%, 03/15/2034		345		349
Woolworths Group Ltd., (Australia), Reg. S, 0.38%, 11/15/2028	EUR	1,500		1,403
				49,256

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.3%
Abbott Laboratories, 4.90%, 11/30/2046		255		249
Agilent Technologies, Inc., 3.05%, 09/22/2026		275		262
Alcon Finance BV, (Netherlands), Reg. S, 2.38%, 05/31/2028	EUR	200		208
American Medical Systems Europe BV, (Netherlands),
0.75%, 03/08/2025	EUR	1,300		1,364
3.38%, 03/08/2029	EUR	1,500		1,624
3.50%, 03/08/2032	EUR	2,900		3,154
Becton Dickinson Euro Finance Sarl, (Luxembourg), 1.21%, 06/04/2026	EUR	825		848
Boston Scientific Corp.,
0.63%, 12/01/2027	EUR	800		784
6.50%, 11/15/2035		115		128
Danaher Corp., 2.80%, 12/10/2051		105		69
DH Europe Finance II Sarl, (Luxembourg),
0.20%, 03/18/2026	EUR	3,775		3,824
3.40%, 11/15/2049		30		22
Edwards Lifesciences Corp., 4.30%, 06/15/2028		435		423
EssilorLuxottica SA, (France), Reg. S, 0.38%, 01/05/2026	EUR	600		615
Medtronic Global Holdings SCA, (Luxembourg),
1.13%, 03/07/2027	EUR	4,000		4,057
1.63%, 10/15/2050	EUR	900		657
1.75%, 07/02/2049	EUR	900		677
3.00%, 10/15/2028	EUR	3,400		3,636
3.38%, 10/15/2034	EUR	4,200		4,541
Molnlycke Holding AB, (Sweden), Reg. S, 1.88%, 02/28/2025	EUR	1,900		2,009
Smith & Nephew plc, (United Kingdom), 4.57%, 10/11/2029	EUR	1,500		1,702
Stryker Corp.,
1.00%, 12/03/2031	EUR	1,300		1,182
3.38%, 12/11/2028	EUR	2,200		2,390
Thermo Fisher Scientific Finance I BV, (Netherlands), 1.13%, 10/18/2033	EUR	1,000		892
Thermo Fisher Scientific, Inc.,
1.22%, 10/18/2024		80		78
1.88%, 10/01/2049	EUR	900		697
5.00%, 01/31/2029		215		217
5.40%, 08/10/2043		30		31
Werfen SA, (Spain), Reg. S, 0.50%, 10/28/2026	EUR	1,200		1,183
Zimmer Biomet Holdings, Inc.,
1.16%, 11/15/2027	EUR	1,000		994
2.43%, 12/13/2026	EUR	500		525
				39,042
Healthcare - Services — 0.3%
Advocate Health & Hospitals Corp., 3.39%, 10/15/2049		35		26
Aetna, Inc., 3.50%, 11/15/2024		58		57
AHS Hospital Corp., Series 2021, 2.78%, 07/01/2051		755		496
Allina Health System, Series 2019, 3.89%, 04/15/2049		40		32
Ascension Health, 3.95%, 11/15/2046		140		119
Banner Health, 2.91%, 01/01/2042		100		74
Beth Israel Lahey Health, Inc., Series L, 3.08%, 07/01/2051		7		5
Centene Corp., 2.45%, 07/15/2028		905		802
City of Hope, Series 2013, 5.62%, 11/15/2043		35		34

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Cleveland Clinic Foundation (The), 4.86%, 01/01/2114		1,000		919
CommonSpirit Health, 3.91%, 10/01/2050		368		288
Duke University Health System, Inc., Series 2017, 3.92%, 06/01/2047		50		42
Elevance Health, Inc.,
3.35%, 12/01/2024		100		99
4.90%, 02/08/2026		130		129
Eurofins Scientific SE, (Luxembourg), Reg. S, 2.13%, 07/25/2024	EUR	796		853
Hackensack Meridian Health, Inc.,
Series 2020, 2.68%, 09/01/2041		1,385		994
Series 2020, 2.88%, 09/01/2050		35		23
HCA, Inc.,
3.13%, 03/15/2027		2,560		2,422
4.13%, 06/15/2029		740		701
4.63%, 03/15/2052		755		632
5.13%, 06/15/2039		355		336
5.38%, 02/01/2025		375		374
5.45%, 04/01/2031		230		231
5.60%, 04/01/2034		160		161
6.00%, 04/01/2054		290		295
6.10%, 04/01/2064		350		355
Health Care Service Corp. A Mutual Legal Reserve Co., 2.20%, 06/01/2030 (e)		1,400		1,179
IQVIA, Inc.,
5.70%, 05/15/2028		580		588
6.25%, 02/01/2029		1,117		1,161
Kaiser Foundation Hospitals,
4.15%, 05/01/2047		1,200		1,033
Series 2021, 3.00%, 06/01/2051		250		173
Lonza Finance International NV, (Belgium), Reg. S, 1.63%, 04/21/2027	EUR	2,800		2,865
Mayo Clinic,
3.77%, 11/15/2043		30		25
Series 2013, 4.00%, 11/15/2047		25		21
Series 2021, 3.20%, 11/15/2061		440		304
Memorial Health Services, 3.45%, 11/01/2049		10		8
Memorial Sloan-Kettering Cancer Center, 4.13%, 07/01/2052		50		43
Methodist Hospital (The), Series 20A, 2.71%, 12/01/2050		1,500		980
MultiCare Health System, 2.80%, 08/15/2050		1,000		614
MyMichigan Health, Series 2020, 3.41%, 06/01/2050		1,498		1,091
New York and Presbyterian Hospital (The),
2.26%, 08/01/2040		1,090		746
4.02%, 08/01/2045		70		61
Northwell Healthcare, Inc., 4.26%, 11/01/2047		25		21
OhioHealth Corp.,
2.30%, 11/15/2031		830		693
2.83%, 11/15/2041		370		273
Series 2020, 3.04%, 11/15/2050		535		380
PeaceHealth Obligated Group,
Series 2020, 1.38%, 11/15/2025		700		651
Series 2020, 3.22%, 11/15/2050		749		516
Piedmont Healthcare, Inc.,
2.86%, 01/01/2052		3		2
Series 2032, 2.04%, 01/01/2032		470		381

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Series 2042, 2.72%, 01/01/2042		453		321
Presbyterian Healthcare Services, 4.88%, 08/01/2052		100		96
Providence St Joseph Health Obligated Group, Series 21A, 2.70%, 10/01/2051		150		92
Roche Holdings, Inc.,
4.99%, 03/08/2034 (e)		1,950		1,964
5.59%, 11/13/2033 (e)		1,650		1,730
Sentara Healthcare, Series 2021, 2.93%, 11/01/2051		2,365		1,622
Texas Health Resources, 2.33%, 11/15/2050		750		453
Trinity Health Corp., Series 2021, 2.63%, 12/01/2040		233		168
UMass Memorial Health Care Obligated Group, 5.36%, 07/01/2052		5		5
UnitedHealth Group, Inc.,
2.00%, 05/15/2030		160		136
3.70%, 08/15/2049		1,100		864
3.85%, 06/15/2028		70		68
5.20%, 04/15/2063		1,200		1,173
6.05%, 02/15/2063		340		375
Universal Health Services, Inc.,
2.65%, 10/15/2030		1,423		1,207
2.65%, 01/15/2032		267		218
West Virginia United Health System Obligated Group, Series 2020, 3.13%, 06/01/2050		50		33
Yale-New Haven Health Services Corp., Series 2020, 2.50%, 07/01/2050		50		30
				34,863
Household Products/Wares — 0.1%
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		883
Kimberly-Clark Corp.,
0.63%, 09/07/2024	EUR	1,500		1,596
2.88%, 02/07/2050		205		141
3.10%, 03/26/2030		48		44
3.20%, 04/25/2029		55		51
Reckitt Benckiser Treasury Services plc, (United Kingdom),
Reg. S, 1.75%, 05/19/2032	GBP	2,175		2,212
				4,935
Pharmaceuticals — 0.8%
AbbVie, Inc.,
3.20%, 11/21/2029		4,960		4,572
4.05%, 11/21/2039		195		174
4.25%, 11/21/2049		99		86
4.40%, 11/06/2042		25		23
4.95%, 03/15/2031		110		111
5.05%, 03/15/2034		100		101
5.35%, 03/15/2044		80		82
5.40%, 03/15/2054		365		375
5.50%, 03/15/2064		270		278
Astrazeneca Finance LLC,
0.70%, 05/28/2024		105		104
1.75%, 05/28/2028		480		426
AstraZeneca plc, (United Kingdom),
Reg. S, 0.38%, 06/03/2029	EUR	1,500		1,418

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Reg. S, 1.25%, 05/12/2028	EUR	1,000		1,005
4.38%, 11/16/2045		90		81
Bayer AG, (Germany),
Reg. S, 0.63%, 07/12/2031	EUR	1,200		1,010
Reg. S, 1.13%, 01/06/2030	EUR	1,000		917
Bayer Capital Corp. BV, (Netherlands), Reg. S, 2.13%, 12/15/2029	EUR	600		584
Becton Dickinson & Co.,
3.79%, 05/20/2050		100		79
4.30%, 08/22/2032		35		33
Bristol-Myers Squibb Co.,
1.45%, 11/13/2030		187		152
2.35%, 11/13/2040		75		51
3.40%, 07/26/2029		695		653
3.45%, 11/15/2027		53		51
3.90%, 03/15/2062		223		170
4.13%, 06/15/2039		511		453
5.55%, 02/22/2054		105		108
5.65%, 02/22/2064		50		52
6.40%, 11/15/2063		820		939
Cardinal Health, Inc.,
3.08%, 06/15/2024		10		10
4.37%, 06/15/2047		175		148
4.50%, 11/15/2044		45		39
5.13%, 02/15/2029		290		290
5.45%, 02/15/2034		605		611
Cencora, Inc.,
2.70%, 03/15/2031		455		391
3.25%, 03/01/2025		640		627
3.45%, 12/15/2027		5		5
4.25%, 03/01/2045		211		187
4.30%, 12/15/2047		42		36
Cigna Group (The),
2.40%, 03/15/2030		66		57
4.90%, 12/15/2048		800		730
CVS Health Corp., 5.05%, 03/25/2048		1,200		1,090
Eli Lilly & Co.,
0.50%, 09/14/2033	EUR	1,500		1,301
0.63%, 11/01/2031	EUR	4,800		4,363
1.13%, 09/14/2051	EUR	2,717		1,861
1.38%, 09/14/2061	EUR	5,320		3,362
1.63%, 06/02/2026	EUR	1,500		1,567
1.70%, 11/01/2049	EUR	2,500		1,972
2.13%, 06/03/2030	EUR	3,500		3,612
4.70%, 02/09/2034		1,050		1,045
4.88%, 02/27/2053		320		313
4.95%, 02/27/2063		100		97
GlaxoSmithKline Capital plc, (United Kingdom),
5.25%, 12/19/2033	GBP	640		855
Reg. S, 5.25%, 04/10/2042	GBP	150		195

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Johnson & Johnson,
1.15%, 11/20/2028	EUR	1,000		998
2.45%, 09/01/2060		290		173
McKesson Corp.,
0.90%, 12/03/2025		70		65
1.50%, 11/17/2025	EUR	1,000		1,043
1.63%, 10/30/2026	EUR	2,000		2,059
3.13%, 02/17/2029	GBP	1,925		2,270
Merck & Co., Inc.,
0.50%, 11/02/2024	EUR	1,000		1,058
1.38%, 11/02/2036	EUR	1,000		886
1.88%, 10/15/2026	EUR	1,900		1,982
2.35%, 06/24/2040		50		35
2.50%, 10/15/2034	EUR	500		516
2.75%, 12/10/2051		30		20
2.90%, 12/10/2061		355		223
3.40%, 03/07/2029		280		265
3.70%, 02/10/2045		60		49
3.90%, 03/07/2039		150		133
4.00%, 03/07/2049		40		34
4.30%, 05/17/2030		200		196
4.90%, 05/17/2044		485		472
5.00%, 05/17/2053		120		118
5.15%, 05/17/2063		275		273
Merck Financial Services GmbH, (Germany), Reg. S, 0.13%, 07/16/2025	EUR	1,000		1,034
Mylan, Inc., 5.20%, 04/15/2048		30		25
Novartis Capital Corp.,
2.75%, 08/14/2050		405		275
3.10%, 05/17/2027		37		35
Novartis Finance SA, (Luxembourg),
Reg. S, 0.00%, 09/23/2028	EUR	7,000		6,615
Reg. S, 0.63%, 09/20/2028	EUR	1,000		973
Reg. S, 1.13%, 09/30/2027	EUR	1,000		1,015
Reg. S, 1.38%, 08/14/2030	EUR	1,000		978
Reg. S, 1.70%, 08/14/2038	EUR	1,000		913
Novo Nordisk Finance Netherlands BV, (Netherlands),
Reg. S, 0.75%, 03/31/2025	EUR	1,000		1,048
Reg. S, 1.13%, 09/30/2027	EUR	1,000		1,012
Reg. S, 1.38%, 03/31/2030	EUR	1,000		990
Pfizer Investment Enterprises Pte Ltd., (Singapore), 5.34%, 05/19/2063		46		45
Pfizer, Inc.,
2.75%, 06/03/2026		145		139
3.00%, 12/15/2026		533		510
5.60%, 09/15/2040		30		31
Roche Finance Europe BV, (Netherlands), Reg. S, 0.88%, 02/25/2025	EUR	1,600		1,684
Sandoz Finance BV, (Netherlands), Reg. S, 4.50%, 11/17/2033	EUR	15,000		17,201
Sanofi SA, (France), Series 20FX, Reg. S, 1.88%, 03/21/2038	EUR	800		742
Upjohn Finance BV, (Netherlands),
Reg. S, 1.02%, 06/23/2024	EUR	1,000		1,072
Reg. S, 1.36%, 06/23/2027	EUR	1,000		998
Utah Acquisition Sub, Inc., Reg. S, 2.25%, 11/22/2024	EUR	1,000		1,066

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Viatris, Inc.,
3.85%, 06/22/2040		2,200		1,626
4.00%, 06/22/2050		140		97
Zoetis, Inc.,
3.90%, 08/20/2028		40		39
4.70%, 02/01/2043		188		172
5.40%, 11/14/2025		330		330
				92,385
Total Consumer Non-cyclical				578,981
Energy — 1.4%
Coal — 0.0% (g)
Teck Resources Ltd., (Canada), 5.40%, 02/01/2043		1,100		1,024
Energy - Alternate Sources — 0.1%
ERG SpA, (Italy),
Reg. S, 0.50%, 09/11/2027	EUR	5,000		4,849
Reg. S, 0.88%, 09/15/2031	EUR	1,300		1,123
				5,972
Oil & Gas — 0.8%
Aker BP ASA, (Norway),
2.00%, 07/15/2026 (e)		915		846
3.10%, 07/15/2031 (e)		1,585		1,356
5.60%, 06/13/2028 (e)		795		806
6.00%, 06/13/2033 (e)		715		739
Apache Corp., 5.10%, 09/01/2040		220		189
BP Capital Markets BV, (Netherlands), Reg. S, 4.32%, 05/12/2035	EUR	1,500		1,710
BP Capital Markets plc, (United Kingdom),
Reg. S, 1.64%, 06/26/2029	EUR	1,000		990
Reg. S, 2.27%, 07/03/2026	GBP	2,000		2,403
Reg. S, (EUR Swap Rate 5 Year + 3.78%), 3.63%, 03/22/2029 (x) (aa)	EUR	1,300		1,338
Reg. S, (UK Gilts 5 Year + 3.89%), 4.25%, 03/22/2027 (x) (aa)	GBP	7,900		9,423
Canadian Natural Resources Ltd., (Canada),
3.85%, 06/01/2027		39		38
6.25%, 03/15/2038		110		114
6.50%, 02/15/2037		420		444
Cepsa Finance SA, (Spain), Reg. S, 2.25%, 02/13/2026	EUR	100		105
Chevron Corp., 1.55%, 05/11/2025		75		72
Chevron USA, Inc.,
1.02%, 08/12/2027		100		89
2.34%, 08/12/2050		244		149
CNOOC Petroleum North America ULC, (Canada), 6.40%, 05/15/2037		60		67
ConocoPhillips Co.,
5.55%, 03/15/2054		70		72
5.70%, 09/15/2063		635		667
Continental Resources, Inc., 4.90%, 06/01/2044		35		29
Devon Energy Corp., 5.88%, 06/15/2028		1,750		1,759
Diamondback Energy, Inc.,
3.13%, 03/24/2031		2,400		2,128
6.25%, 03/15/2033		300		320

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Eni SpA, (Italy),
Reg. S, 0.63%, 01/23/2030	EUR	500		462
Reg. S, 1.00%, 03/14/2025	EUR	443		466
Reg. S, 1.00%, 10/11/2034	EUR	1,900		1,583
Reg. S, 1.25%, 05/18/2026	EUR	9,200		9,471
Reg. S, 1.50%, 02/02/2026	EUR	1,000		1,041
Reg. S, 1.50%, 01/17/2027	EUR	2,700		2,769
Reg. S, 1.63%, 05/17/2028	EUR	1,000		1,005
Reg. S, 2.00%, 05/18/2031	EUR	500		489
EOG Resources, Inc., 4.38%, 04/15/2030		110		108
EQT Corp.,
5.70%, 04/01/2028		95		96
7.00%, 02/01/2030		3		3
Equinor ASA, (Norway),
Reg. S, 1.38%, 05/22/2032	EUR	825		772
1.75%, 01/22/2026		200		189
2.38%, 05/22/2030		260		228
3.25%, 11/18/2049		30		22
3.63%, 04/06/2040		1,800		1,502
3.70%, 04/06/2050		165		131
Reg. S, 6.88%, 03/11/2031	GBP	150		215
Exxon Mobil Corp.,
0.14%, 06/26/2024	EUR	1,500		1,604
0.84%, 06/26/2032	EUR	1,050		927
1.41%, 06/26/2039	EUR	1,205		947
3.45%, 04/15/2051		484		367
Helmerich & Payne, Inc., 2.90%, 09/29/2031		700		588
Hess Corp.,
3.50%, 07/15/2024		10		10
5.60%, 02/15/2041		120		123
5.80%, 04/01/2047		16		16
Marathon Oil Corp.,
5.30%, 04/01/2029		550		549
5.70%, 04/01/2034		630		631
Marathon Petroleum Corp.,
3.80%, 04/01/2028		250		240
4.50%, 04/01/2048		115		97
5.00%, 09/15/2054		125		112
MOL Hungarian Oil & Gas plc, (Hungary), Reg. S, 1.50%, 10/08/2027	EUR	7,200		7,146
Occidental Petroleum Corp.,
6.13%, 01/01/2031		520		539
6.63%, 09/01/2030		495		524
8.88%, 07/15/2030		460		534
ORLEN SA, (Poland), Reg. S, 1.13%, 05/27/2028	EUR	1,300		1,264
Ovintiv, Inc.,
5.65%, 05/15/2025		735		735
5.65%, 05/15/2028		715		727
Pioneer Natural Resources Co.,
1.90%, 08/15/2030		1,050		882
5.10%, 03/29/2026		820		819
Santos Finance Ltd., (Australia), 6.88%, 09/19/2033 (e)		700		740

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Shell International Finance BV, (Netherlands),
Reg. S, 0.75%, 08/15/2028	EUR	3,000		2,919
Reg. S, 1.63%, 01/20/2027	EUR	3,900		4,043
Reg. S, 1.88%, 09/15/2025	EUR	1,000		1,055
Reg. S, 1.88%, 04/07/2032	EUR	1,000		972
3.00%, 11/26/2051		78		53
6.38%, 12/15/2038		115		130
TotalEnergies Capital International SA, (France),
Reg. S, 0.95%, 05/18/2031	EUR	1,000		922
Reg. S, 1.38%, 10/04/2029	EUR	2,000		1,954
Reg. S, 1.49%, 09/04/2030	EUR	1,000		968
Reg. S, 1.54%, 05/31/2039	EUR	1,000		840
Reg. S, 1.62%, 05/18/2040	EUR	1,000		830
TotalEnergies SE, (France),
Reg. S, (EUR Swap Rate 5 Year + 1.90%), 2.00%, 01/17/2027 (x) (aa)	EUR	2,000		2,009
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.00%, 06/04/2030 (x) (aa)	EUR	1,900		1,768
Reg. S, (EUR Swap Rate 5 Year + 2.94%), 3.25%, 07/17/2036 (x) (aa)	EUR	500		461
Reg. S, (EUR Swap Rate 5 Year + 3.35%), 3.37%, 10/06/2026 (x) (aa)	EUR	3,500		3,691
Series NC7, Reg. S, (EUR Swap Rate 5 Year + 1.99%), 1.63%, 10/25/2027 (x) (aa)	EUR	1,000		973
Series NC12, Reg. S, (EUR Swap Rate 5 Year + 2.51%), 2.13%, 07/25/2032 (x) (aa)	EUR	3,550		3,133
Var Energi ASA, (Norway),
5.00%, 05/18/2027 (e)		1,600		1,564
Reg. S, 5.50%, 05/04/2029	EUR	4,175		4,772
				99,583
Oil & Gas Services — 0.0% (g)
Schlumberger Finance BV, (Netherlands),
Reg. S, 0.00%, 10/15/2024	EUR	1,000		1,057
Reg. S, 0.25%, 10/15/2027	EUR	1,500		1,462
Reg. S, 0.50%, 10/15/2031	EUR	500		442
Schlumberger Finance Canada Ltd., (Canada), 1.40%, 09/17/2025		30		29
Schlumberger Finance France SAS, (France), Reg. S, 1.00%, 02/18/2026	EUR	500		515
				3,505
Pipelines — 0.5%
Cheniere Corpus Christi Holdings LLC,
3.70%, 11/15/2029		88		82
5.88%, 03/31/2025		485		485
Cheniere Energy Partners LP, 4.50%, 10/01/2029		375		357
Cheniere Energy, Inc., 4.63%, 10/15/2028		860		833
Colonial Enterprises, Inc., 3.25%, 05/15/2030 (e)		1,330		1,200
Columbia Pipeline Group, Inc., 4.50%, 06/01/2025		20		20
Columbia Pipelines Operating Co. LLC,
5.93%, 08/15/2030 (e)		185		190
6.04%, 11/15/2033 (e)		280		290
6.50%, 08/15/2043 (e)		490		526
DCP Midstream Operating LP,
3.25%, 02/15/2032		15		13
5.13%, 05/15/2029		1,500		1,495
5.38%, 07/15/2025		70		70
Energy Transfer LP,
4.20%, 04/15/2027		5,830		5,671

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
5.25%, 04/15/2029		1,275		1,277
5.40%, 10/01/2047		675		622
5.55%, 02/15/2028		1,230		1,247
5.75%, 02/15/2033		1,455		1,480
6.05%, 12/01/2026		1,710		1,745
6.40%, 12/01/2030		620		654
6.55%, 12/01/2033		230		247
Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa)		1,490		1,459
EnLink Midstream Partners LP, 5.05%, 04/01/2045		265		219
Enterprise Products Operating LLC,
3.75%, 02/15/2025		50		49
4.15%, 10/16/2028		150		146
4.20%, 01/31/2050		40		34
5.10%, 02/15/2045		1,700		1,634
(CME Term SOFR 3 Month + 2.83%), 5.38%, 02/15/2078 (aa)		600		559
Kinder Morgan Energy Partners LP, 4.70%, 11/01/2042		850		726
Kinder Morgan, Inc.,
1.75%, 11/15/2026		390		358
2.25%, 03/16/2027	EUR	1,500		1,550
5.00%, 02/01/2029		260		259
MPLX LP,
1.75%, 03/01/2026		400		374
2.65%, 08/15/2030		2,495		2,144
4.13%, 03/01/2027		438		427
4.50%, 04/15/2038		75		67
4.70%, 04/15/2048		1,652		1,411
4.88%, 06/01/2025		2,340		2,321
4.90%, 04/15/2058		90		75
4.95%, 03/14/2052		1,395		1,227
5.20%, 03/01/2047		10		9
5.50%, 02/15/2049		520		496
5.65%, 03/01/2053		65		63
ONEOK, Inc.,
2.20%, 09/15/2025		1,100		1,050
3.40%, 09/01/2029		1,510		1,391
3.95%, 03/01/2050		105		78
4.45%, 09/01/2049		2,662		2,158
5.00%, 03/01/2026		410		408
5.65%, 11/01/2028		295		302
5.85%, 01/15/2026		245		247
6.05%, 09/01/2033		1,100		1,148
6.10%, 11/15/2032		241		253
6.35%, 01/15/2031		350		370
7.15%, 01/15/2051		67		75
Plains All American Pipeline LP / PAA Finance Corp.,
3.55%, 12/15/2029		340		312
4.70%, 06/15/2044		58		49
4.90%, 02/15/2045		172		150

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Targa Resources Corp.,
4.20%, 02/01/2033		100		91
4.95%, 04/15/2052		835		732
5.20%, 07/01/2027		965		964
6.13%, 03/15/2033		285		298
6.15%, 03/01/2029		715		744
6.50%, 02/15/2053		520		558
Targa Resources Partners LP / Targa Resources Partners Finance Corp.,
4.88%, 02/01/2031		685		655
5.00%, 01/15/2028		599		589
Transcontinental Gas Pipe Line Co. LLC,
3.25%, 05/15/2030		80		73
7.85%, 02/01/2026		428		444
Western Midstream Operating LP,
4.05%, 02/01/2030		1,290		1,201
4.50%, 03/01/2028		1,200		1,158
4.65%, 07/01/2026		480		471
6.15%, 04/01/2033		200		205
6.35%, 01/15/2029		30		31
Williams Cos., Inc. (The),
3.50%, 11/15/2030		1,900		1,728
5.30%, 08/15/2028		2,350		2,371
5.80%, 11/15/2043		15		15
				54,430
Total Energy				164,514
Financial — 16.5%
Banks — 11.7%
ABN AMRO Bank NV, (Netherlands),
Reg. S, 0.40%, 09/17/2041	EUR	100		68
Reg. S, 1.25%, 01/10/2033	EUR	100		94
Reg. S, 1.38%, 01/16/2025	GBP	1,500		1,837
Reg. S, 1.38%, 01/12/2037	EUR	100		89
Reg. S, 1.45%, 04/12/2038	EUR	100		88
Reg. S, 4.38%, 10/20/2028	EUR	5,800		6,469
(CMT Index 1 Year + 1.65%), 6.34%, 09/18/2027 (e) (aa)		1,100		1,119
(CMT Index 1 Year + 1.55%), 6.58%, 10/13/2026 (e) (aa)		2,100		2,121
Achmea Bank NV, (Netherlands), Reg. S, 0.50%, 02/20/2026	EUR	100		102
Aegon Bank NV, (Netherlands), Reg. S, 0.01%, 11/16/2025	EUR	100		102
AIB Group plc, (Ireland),
Reg. S, (EUR Swap Rate 1 Year + 1.30%), 2.25%, 04/04/2028 (aa)	EUR	1,000		1,034
Reg. S, (EUR Swap Rate 1 Year + 2.00%), 3.63%, 07/04/2026 (aa)	EUR	1,500		1,614
AMCO - Asset Management Co. SpA, (Italy), Reg. S, 0.75%, 04/20/2028	EUR	163		155
ANZ New Zealand Int'l Ltd., (New Zealand), Reg. S, 0.20%, 09/23/2027	EUR	6,000		5,796
Argenta Spaarbank NV, (Belgium), Reg. S, 3.38%, 06/22/2028	EUR	100		109
Arion Banki HF, (Iceland),
Reg. S, 0.05%, 10/05/2026	EUR	100		99
Reg. S, 0.38%, 07/14/2025	EUR	2,950		3,025
Arkea Public Sector SCF SA, (France), Reg. S, 3.11%, 02/28/2029	EUR	100		109

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
ASB Bank Ltd., (New Zealand),
Reg. S, 0.25%, 09/08/2028	EUR	1,000		937
Reg. S, 0.50%, 09/24/2029	EUR	1,000		929
Australia & New Zealand Banking Group Ltd., (Australia), Reg. S, (EUR Swap Rate 5 Year + 1.12%), 0.67%, 05/05/2031 (aa)	EUR	2,925		2,920
Banca Monte dei Paschi di Siena SpA, (Italy), Reg. S, 0.88%, 10/08/2026	EUR	3,504		3,520
Banco Bilbao Vizcaya Argentaria SA, (Spain),
Reg. S, (ICE LIBOR EUR 3 Month + 0.52%), 0.13%, 03/24/2027 (aa)	EUR	6,700		6,744
Reg. S, 0.38%, 10/02/2024	EUR	1,000		1,060
Reg. S, 0.38%, 11/15/2026	EUR	1,000		996
Reg. S, 0.50%, 01/14/2027	EUR	1,000		994
Reg. S, 1.00%, 06/21/2026	EUR	1,000		1,022
Reg. S, (EUR Swap Rate 5 Year + 1.27%), 1.00%, 01/16/2030 (aa)	EUR	1,000		1,048
Reg. S, 1.38%, 05/14/2025	EUR	1,000		1,051
Reg. S, 1.75%, 11/26/2025	EUR	10,900		11,421
Reg. S, 3.13%, 07/17/2027	EUR	100		108
Reg. S, 3.38%, 09/20/2027	EUR	6,800		7,332
Reg. S, 3.50%, 02/10/2027	EUR	500		536
Reg. S, 3.50%, 03/26/2031	EUR	7,300		7,904
Reg. S, (UK Gilts 5 Year + 3.60%), 8.25%, 11/30/2033 (aa)	GBP	10,000		13,565
Banco BPI SA, (Portugal), Reg. S, 3.63%, 07/04/2028	EUR	1,600		1,755
Banco BPM SpA, (Italy), Reg. S, 3.38%, 01/24/2030	EUR	100		108
Banco de Sabadell SA, (Spain),
Reg. S, (EUR Swap Rate 1 Year + 0.97%), 0.63%, 11/07/2025 (aa)	EUR	3,700		3,914
Reg. S, 0.88%, 07/22/2025	EUR	7,500		7,809
Reg. S, (EUR Swap Rate 1 Year + 1.55%), 1.13%, 03/11/2027 (aa)	EUR	2,900		2,979
Reg. S, 1.75%, 05/30/2029	EUR	100		101
Banco Santander SA, (Spain),
Reg. S, 0.10%, 02/27/2032	EUR	200		170
Reg. S, 0.20%, 02/11/2028	EUR	5,900		5,622
Reg. S, 1.00%, 04/07/2025	EUR	100		105
Reg. S, 1.13%, 10/25/2028	EUR	100		99
Reg. S, 1.38%, 01/05/2026	EUR	200		207
Reg. S, 1.63%, 10/22/2030	EUR	1,900		1,765
Reg. S, 2.38%, 09/08/2027	EUR	100		105
2.75%, 05/28/2025		200		193
Reg. S, (EUR Swap Rate 1 Year + 1.05%), 3.63%, 09/27/2026 (aa)	EUR	2,000		2,152
Reg. S, 3.88%, 01/16/2028	EUR	10,000		10,925
Reg. S, 5.13%, 01/25/2030	GBP	1,000		1,269
5.29%, 08/18/2027		200		200
(CMT Index 1 Year + 1.45%), 5.54%, 03/14/2030 (aa)		4,000		3,998
6.92%, 08/08/2033		800		838
6.94%, 11/07/2033		1,400		1,548
Series DIP, Reg. S, 3.25%, 04/04/2026	EUR	10,000		10,644
Banco Santander Totta SA, (Portugal), Reg. S, 1.25%, 09/26/2027	EUR	100		101
Bank of America Corp.,
Reg. S, (ICE LIBOR EUR 3 Month + 0.75%), 0.81%, 05/09/2026 (aa)	EUR	1,900		1,984
Reg. S, (ICE LIBOR EUR 3 Month + 0.89%), 1.66%, 04/25/2028 (aa)	EUR	2,340		2,384
Reg. S, (UK Gilts 1 Year + 1.10%), 1.67%, 06/02/2029 (aa)	GBP	2,000		2,218

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 + 0.96%), 1.73%, 07/22/2027 (aa)		1,465		1,351
Reg. S, (ICE LIBOR EUR 3 Month + 0.91%), 1.95%, 10/27/2026 (aa)	EUR	2,000		2,099
(United States SOFR + 1.06%), 2.09%, 06/14/2029 (aa)		1,500		1,327
(United States SOFR + 1.22%), 2.30%, 07/21/2032 (aa)		1,000		819
Reg. S, 2.30%, 07/25/2025	GBP	1,000		1,218
(CME Term SOFR 3 Month + 1.25%), 2.50%, 02/13/2031 (aa)		3,300		2,845
(United States SOFR + 1.05%), 2.55%, 02/04/2028 (aa)		15		14
(United States SOFR + 1.21%), 2.57%, 10/20/2032 (aa)		2,605		2,164
(United States SOFR + 1.93%), 2.68%, 06/19/2041 (aa)		1,920		1,368
(United States SOFR + 1.32%), 2.69%, 04/22/2032 (aa)		2,150		1,824
(CME Term SOFR 3 Month + 1.45%), 2.88%, 10/22/2030 (aa)		65		58
(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		46
(United States SOFR + 1.33%), 3.38%, 04/02/2026 (aa)		1,000		978
(CME Term SOFR 3 Month + 1.30%), 3.42%, 12/20/2028 (aa)		350		328
Reg. S, (UK Gilts 1 Year + 1.75%), 3.58%, 04/27/2031 (aa)	GBP	1,500		1,770
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa)		1,235		1,233
(CME Term SOFR 3 Month + 1.33%), 3.97%, 03/05/2029 (aa)		1,140		1,090
4.00%, 01/22/2025		4,200		4,144
(CME Term SOFR 3 Month + 1.58%), 4.08%, 04/23/2040 (aa)		100		86
(CME Term SOFR 3 Month + 3.41%), 4.08%, 03/20/2051 (aa)		50		41
(United States SOFR + 1.58%), 4.38%, 04/27/2028 (aa)		1,340		1,309
4.88%, 04/01/2044		25		24
(United States SOFR + 2.04%), 4.95%, 07/22/2028 (aa)		1,705		1,693
5.00%, 01/21/2044		20		19
(United States SOFR + 2.16%), 5.02%, 07/22/2033 (aa)		470		463
(United States SOFR + 1.63%), 5.20%, 04/25/2029 (aa)		250		250
(United States SOFR + 1.91%), 5.29%, 04/25/2034 (aa)		1,351		1,347
(United States SOFR + 1.65%), 5.47%, 01/23/2035 (aa)		455		459
(United States SOFR + 1.99%), 6.20%, 11/10/2028 (aa)		205		212
Reg. S, 7.00%, 07/31/2028	GBP	650		889
Series N, (United States SOFR + 1.22%), 2.65%, 03/11/2032 (aa)		1,000		845
Series N, (United States SOFR + 1.65%), 3.48%, 03/13/2052 (aa)		180		134
Bank of Montreal, (Canada),
Reg. S, 0.05%, 06/08/2029	EUR	100		92
Reg. S, 0.13%, 01/26/2027	EUR	1,800		1,779
Reg. S, 1.00%, 04/05/2026	EUR	100		103
2.65%, 03/08/2027		30		28
3.70%, 06/07/2025		370		363
5.30%, 06/05/2026		130		131
5.72%, 09/25/2028		230		236
5.92%, 09/25/2025		180		182
Bank of New York Mellon Corp. (The),
2.05%, 01/26/2027		3		3
3.00%, 10/30/2028		29		27
(United States SOFR + 1.15%), 3.99%, 06/13/2028 (aa)		6		6
(United States SOFR + 1.35%), 4.41%, 07/24/2026 (aa)		163		161

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 + 1.17%), 4.54%, 02/01/2029 (aa)		210		207
(United States SOFR + 1.51%), 4.71%, 02/01/2034 (aa)		100		96
(SOFR Compounded Index + 1.80%), 5.80%, 10/25/2028 (aa)		37		38
Bank of New Zealand, (New Zealand), Reg. S, 2.55%, 06/29/2027	EUR	100		105
Bank of Nova Scotia (The), (Canada),
Reg. S, 0.01%, 01/14/2027	EUR	1,900		1,875
Reg. S, 0.38%, 03/26/2030	EUR	100		92
1.05%, 03/02/2026		170		157
3.45%, 04/11/2025		510		500
Bank of Queensland Ltd., (Australia), Reg. S, 1.84%, 06/09/2027	EUR	7,600		7,842
Bankinter SA, (Spain),
Reg. S, 0.88%, 07/08/2026	EUR	3,000		3,038
Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.25%, 12/23/2032 (aa)	EUR	3,600		3,507
Banque Federative du Credit Mutuel SA, (France),
Reg. S, 0.01%, 03/07/2025	EUR	1,000		1,043
Reg. S, 0.01%, 05/11/2026	EUR	1,000		1,003
Reg. S, 0.63%, 11/03/2028	EUR	1,000		943
Reg. S, 0.75%, 06/08/2026	EUR	1,000		1,017
Reg. S, 0.75%, 01/17/2030	EUR	1,000		914
Reg. S, 1.00%, 05/23/2025	EUR	4,000		4,185
Reg. S, 1.13%, 11/19/2031	EUR	600		523
Reg. S, 1.25%, 05/26/2027	EUR	1,000		1,010
Reg. S, 1.25%, 06/03/2030	EUR	1,000		935
Reg. S, 1.38%, 07/16/2028	EUR	3,000		2,986
Reg. S, 1.88%, 11/04/2026	EUR	1,200		1,235
Reg. S, 1.88%, 06/18/2029	EUR	1,000		980
Reg. S, 2.50%, 05/25/2028	EUR	1,500		1,542
Reg. S, 2.63%, 11/06/2029	EUR	500		512
Reg. S, 3.00%, 05/21/2024	EUR	2,000		2,153
Reg. S, 3.00%, 09/11/2025	EUR	7,000		7,450
Reg. S, 3.13%, 09/14/2027	EUR	3,400		3,633
Reg. S, 3.63%, 09/14/2032	EUR	3,000		3,276
Reg. S, (EUR Swap Rate 5 Year + 2.20%), 3.88%, 06/16/2032 (aa)	EUR	1,000		1,066
4.94%, 01/26/2026 (e)		2,000		1,987
Reg. S, 5.00%, 01/19/2026	GBP	10,000		12,599
Reg. S, 5.00%, 10/22/2029	GBP	6,600		8,397
5.90%, 07/13/2026 (e)		2,800		2,837
Barclays Bank plc, (United Kingdom), Reg. S, 5.75%, 09/14/2026	GBP	90		114
Barclays plc, (United Kingdom),
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.85%), 0.88%, 01/28/2028 (aa)	EUR	2,000		1,995
Reg. S, 3.00%, 05/08/2026	GBP	100		121
Reg. S, 3.25%, 02/12/2027	GBP	1,200		1,432
Reg. S, (UK Gilts 5 Year + 3.75%), 3.75%, 11/22/2030 (aa)	GBP	825		999
(United States SOFR + 1.49%), 5.67%, 03/12/2028 (aa)		1,320		1,324
(United States SOFR + 2.42%), 6.04%, 03/12/2055 (aa)		210		219
(United States SOFR + 1.88%), 6.50%, 09/13/2027 (aa)		1,120		1,143
(CMT Index 1 Year + 3.50%), 7.44%, 11/02/2033 (aa)		455		506

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Basellandschaftliche Kantonalbank, (Switzerland), Reg. S, 0.38%, 05/13/2030	CHF	100		104
Bausparkasse Schwaebisch Hall AG, (Germany), Reg. S, 2.00%, 05/17/2034	EUR	100		98
BAWAG PSK Bank fuer Arbeit und Wirtschaft und Oesterreichische Postsparkasse AG, (Austria),
Reg. S, 0.10%, 05/12/2031	EUR	100		88
Reg. S, 2.00%, 08/25/2032	EUR	100		99
Bayerische Landesbank, (Germany),
Reg. S, 0.05%, 04/30/2031	EUR	50		44
Reg. S, 0.13%, 11/02/2029	EUR	50		46
Reg. S, (EUR Swap Rate 5 Year + 1.40%), 1.38%, 11/22/2032 (aa)	EUR	100		93
Reg. S, 2.13%, 09/01/2031	EUR	50		51
Reg. S, 3.75%, 02/07/2029	EUR	200		217
Belfius Bank SA, (Belgium),
Reg. S, 0.13%, 09/14/2026	EUR	100		100
Reg. S, 0.13%, 02/08/2028	EUR	600		575
Reg. S, 3.25%, 10/18/2027	EUR	100		108
Reg. S, (EUR Swap Rate 5 Year + 2.20%), 4.88%, 06/11/2035 (aa)	EUR	100		109
Bendigo & Adelaide Bank Ltd., (Australia), Reg. S, 4.02%, 10/04/2026	EUR	100		109
Berlin Hyp AG, (Germany),
Reg. S, 0.01%, 08/24/2026	EUR	100		100
Reg. S, 0.01%, 07/07/2028	EUR	100		95
Reg. S, 1.75%, 05/10/2032	EUR	50		50
Reg. S, 3.00%, 01/10/2033	EUR	50		55
BNP Paribas SA, (France),
Reg. S, (ICE LIBOR EUR 3 Month + 0.73%), 0.50%, 02/19/2028 (aa)	EUR	1,000		986
Reg. S, (ICE LIBOR EUR 3 Month + 0.83%), 0.50%, 01/19/2030 (aa)	EUR	3,500		3,248
Reg. S, 0.63%, 12/03/2032	EUR	1,400		1,167
Reg. S, (ICE LIBOR EUR 3 Month + 0.83%), 0.88%, 07/11/2030 (aa)	EUR	3,000		2,804
Reg. S, (EUR Swap Rate 5 Year + 1.17%), 0.88%, 08/31/2033 (aa)	EUR	1,000		935
Reg. S, 1.13%, 08/28/2024	EUR	500		534
Reg. S, 1.13%, 06/11/2026	EUR	1,000		1,023
Reg. S, (EUR Swap Rate 5 Year + 1.20%), 1.13%, 01/15/2032 (aa)	EUR	1,500		1,482
Reg. S, 1.38%, 05/28/2029	EUR	200		194
Reg. S, 1.50%, 05/23/2028	EUR	500		501
Reg. S, 1.50%, 05/25/2028	EUR	1,500		1,506
(United States SOFR + 0.91%), 1.68%, 06/30/2027 (e) (aa)		1,250		1,152
Reg. S, 1.88%, 12/14/2027	GBP	2,000		2,268
Reg. S, (UK Gilts 5 Year + 1.65%), 2.00%, 05/24/2031 (aa)	GBP	2,500		2,900
Reg. S, 2.10%, 04/07/2032	EUR	1,500		1,441
Reg. S, 2.25%, 01/11/2027	EUR	500		520
Reg. S, 2.38%, 02/17/2025	EUR	1,000		1,063
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.60%), 2.50%, 03/31/2032 (aa)	EUR	4,600		4,708
Reg. S, 2.88%, 02/24/2029	GBP	2,000		2,293
Reg. S, 3.38%, 01/23/2026	GBP	600		734
Reg. S, (ICE LIBOR EUR 3 Month + 0.95%), 4.13%, 09/26/2032 (aa)	EUR	16,300		18,306
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 4.38%, 01/13/2029 (aa)	EUR	5,900		6,539
(United States SOFR + 1.52%), 5.18%, 01/09/2030 (e) (aa)		2,250		2,249
Reg. S, 5.75%, 06/13/2032	GBP	4,500		5,897

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
BPCE SA, (France),
Reg. S, 0.25%, 01/15/2026	EUR	6,200		6,312
Reg. S, 0.25%, 01/14/2031	EUR	1,900		1,661
Reg. S, 0.63%, 09/26/2024	EUR	1,500		1,592
Reg. S, 0.63%, 04/28/2025	EUR	1,000		1,044
Reg. S, 1.00%, 12/22/2025	GBP	2,000		2,359
Reg. S, 1.00%, 10/05/2028	EUR	500		486
Reg. S, 3.50%, 01/25/2028	EUR	10,000		10,827
Reg. S, 4.00%, 11/29/2032	EUR	4,300		4,826
4.63%, 07/11/2024 (e)		1,200		1,194
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.65%), 5.75%, 06/01/2033 (aa)	EUR	2,900		3,310
(United States SOFR + 2.10%), 5.98%, 01/18/2027 (e) (aa)		1,700		1,705
BPER Banca SPA, (Italy), Reg. S, 3.25%, 01/22/2031	EUR	100		108
Caixa Geral de Depositos SA, (Portugal), Reg. S, (EUR Swap Rate 1 Year + 2.75%), 5.75%, 10/31/2028 (aa)	EUR	100		115
CaixaBank SA, (Spain),
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 0.50%, 02/09/2029 (aa)	EUR	1,500		1,436
Reg. S, (ICE LIBOR EUR 3 Month + 1.00%), 0.75%, 05/26/2028 (aa)	EUR	2,100		2,076
Reg. S, 1.00%, 09/25/2025	EUR	100		104
Reg. S, 1.25%, 01/11/2027	EUR	200		204
Reg. S, (EUR Swap Rate 5 Year + 1.63%), 1.25%, 06/18/2031 (aa)	EUR	500		505
Reg. S, 1.38%, 06/19/2026	EUR	2,300		2,358
Reg. S, (EUR Swap Rate 5 Year + 1.68%), 2.25%, 04/17/2030 (aa)	EUR	1,000		1,052
Reg. S, 3.75%, 09/07/2029	EUR	500		551
(United States SOFR + 1.78%), 5.67%, 03/15/2030 (e) (aa)		815		815
(United States SOFR + 2.26%), 6.04%, 06/15/2035 (e) (aa)		630		636
Reg. S, (EUR Swap Rate 5 Year + 3.55%), 6.25%, 02/23/2033 (aa)	EUR	2,500		2,854
(United States SOFR + 2.08%), 6.68%, 09/13/2027 (e) (aa)		1,750		1,788
Caja Rural de Navarra SCC, (Spain), Reg. S, 3.00%, 04/26/2027	EUR	100		107
Cajamar Caja Rural SCC, (Spain), Reg. S, 3.38%, 07/25/2029	EUR	1,700		1,837
Canadian Imperial Bank of Commerce, (Canada),
Reg. S, 0.01%, 04/30/2029	EUR	2,000		1,848
Reg. S, 0.04%, 07/09/2027	EUR	100		97
3.95%, 08/04/2025		350		344
Cie de Financement Foncier SA, (France),
Reg. S, 0.38%, 04/09/2027	EUR	100		99
Reg. S, 0.60%, 10/25/2041	EUR	100		71
Reg. S, 0.75%, 01/21/2025	EUR	100		105
Reg. S, 0.75%, 05/29/2026	EUR	100		103
Reg. S, 2.38%, 03/15/2030	EUR	100		105
Reg. S, 3.38%, 09/16/2031	EUR	100		111
Reg. S, 3.88%, 04/25/2055	EUR	20		25
Citigroup, Inc.,
(United States SOFR + 0.67%), 0.98%, 05/01/2025 (aa)		640		637
Reg. S, (ICE LIBOR EUR 3 Month + 1.66%), 1.25%, 07/06/2026 (aa)	EUR	2,000		2,091
(United States SOFR + 0.77%), 1.46%, 06/09/2027 (aa)		3,100		2,848

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
1.75%, 01/28/2025	EUR	700		743
(United States SOFR + 0.69%), 2.01%, 01/25/2026 (aa)		90		87
(United States SOFR + 1.18%), 2.52%, 11/03/2032 (aa)		465		381
(United States SOFR + 1.17%), 2.56%, 05/01/2032 (aa)		1,060		883
(United States SOFR + 2.11%), 2.57%, 06/03/2031 (aa)		3,600		3,074
(United States SOFR + 1.38%), 2.90%, 11/03/2042 (aa)		75		54
(United States SOFR + 1.42%), 2.98%, 11/05/2030 (aa)		500		444
(United States SOFR + 2.84%), 3.11%, 04/08/2026 (aa)		135		132
(United States SOFR + 1.53%), 3.29%, 03/17/2026 (aa)		1,000		977
(CME Term SOFR 3 Month + 1.16%), 3.35%, 04/24/2025 (aa)		65		65
(CME Term SOFR 3 Month + 1.65%), 3.67%, 07/24/2028 (aa)		700		666
(United States SOFR + 1.94%), 3.79%, 03/17/2033 (aa)		100		89
(CME Term SOFR 3 Month + 1.45%), 4.08%, 04/23/2029 (aa)		1,695		1,624
(CME Term SOFR 3 Month + 2.10%), 4.28%, 04/24/2048 (aa)		160		137
4.40%, 06/10/2025		3,500		3,452
4.65%, 07/30/2045		10		9
4.65%, 07/23/2048		25		23
(United States SOFR + 1.36%), 5.17%, 02/13/2030 (aa)		1,485		1,479
(United States SOFR + 4.55%), 5.32%, 03/26/2041 (aa)		100		99
(United States SOFR + 2.06%), 5.83%, 02/13/2035 (aa)		2,530		2,505
6.00%, 10/31/2033		50		52
(United States SOFR + 2.66%), 6.17%, 05/25/2034 (aa)		2,260		2,292
Clydesdale Bank plc, (United Kingdom), Reg. S, 2.50%, 06/22/2027	EUR	5,000		5,253
Comerica, Inc., (United States SOFR + 2.16%), 5.98%, 01/30/2030 (aa)		708		699
Commerzbank AG, (Germany),
Reg. S, 0.01%, 03/11/2030	EUR	100		91
Reg. S, 0.10%, 09/11/2025	EUR	939		964
Reg. S, 0.25%, 01/12/2032	EUR	100		88
Reg. S, 0.88%, 09/08/2025	EUR	100		104
Reg. S, 1.00%, 03/04/2026	EUR	1,500		1,545
Reg. S, 1.13%, 06/22/2026	EUR	1,100		1,120
Reg. S, 2.88%, 04/28/2026	EUR	100		107
Reg. S, (ICE LIBOR EUR 3 Month + 1.50%), 3.00%, 09/14/2027 (aa)	EUR	3,100		3,267
Reg. S, 3.13%, 04/20/2029	EUR	100		109
Reg. S, (ICE LIBOR EUR 3 Month + 2.20%), 4.63%, 03/21/2028 (aa)	EUR	4,000		4,396
Reg. S, (ICE LIBOR EUR 3 Month + 2.10%), 4.63%, 01/17/2031 (aa)	EUR	4,700		5,196
Commonwealth Bank of Australia, (Australia),
Reg. S, 0.75%, 02/28/2028	EUR	100		98
Reg. S, 1.13%, 01/18/2028	EUR	1,000		1,002
Reg. S, (EUR Swap Rate 5 Year + 1.45%), 1.94%, 10/03/2029 (aa)	EUR	1,825		1,939
Reg. S, 3.25%, 10/24/2025	EUR	100		108
Cooperatieve Rabobank UA, (Netherlands),
Reg. S, 0.01%, 11/27/2040	EUR	100		65
Reg. S, 0.13%, 12/01/2031	EUR	100		88
Reg. S, 0.75%, 03/02/2032	EUR	100		92
Reg. S, 0.88%, 02/08/2028	EUR	200		200

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		696
Reg. S, 0.88%, 02/01/2029	EUR	100		98
Reg. S, 1.25%, 03/23/2026	EUR	1,475		1,533
Reg. S, 1.38%, 02/03/2027	EUR	25		26
Reg. S, (EUR Swap Rate 5 Year + 1.95%), 3.88%, 11/30/2032 (aa)	EUR	2,100		2,252
4.38%, 08/04/2025		890		874
Reg. S, (ICE LIBOR EUR 3 Month + 1.55%), 4.63%, 01/27/2028 (aa)	EUR	15,700		17,423
Reg. S, 5.25%, 05/23/2041	GBP	50		67
Credit Agricole Italia SpA, (Italy),
Reg. S, 0.13%, 03/15/2033	EUR	100		82
Reg. S, 3.50%, 01/15/2030	EUR	100		110
Credit Agricole SA, (France),
Reg. S, 0.38%, 10/21/2025	EUR	7,000		7,194
Reg. S, (ICE LIBOR EUR 3 Month + 0.68%), 0.50%, 09/21/2029 (aa)	EUR	13,000		12,254
Reg. S, 1.00%, 09/18/2025	EUR	15,000		15,612
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 1.00%, 04/22/2026 (aa)	EUR	3,000		3,140
Reg. S, 1.75%, 03/05/2029	EUR	1,100		1,093
Reg. S, (UK Gilts 5 Year + 1.50%), 1.87%, 12/09/2031 (aa)	GBP	600		681
Reg. S, 1.88%, 12/20/2026	EUR	1,000		1,035
Reg. S, (ICE LIBOR EUR 3 Month + 0.77%), 1.88%, 04/22/2027 (aa)	EUR	1,000		1,041
Reg. S, 2.38%, 05/20/2024	EUR	600		646
Reg. S, 3.75%, 01/22/2034	EUR	5,600		6,166
Reg. S, (ICE LIBOR EUR 3 Month + 1.35%), 4.00%, 10/12/2026 (aa)	EUR	2,000		2,165
Reg. S, 4.00%, 01/18/2033	EUR	5,500		6,211
Reg. S, (UK Gilts 1 Year + 2.18%), 6.38%, 06/14/2031 (aa)	GBP	7,300		9,810
Credit Mutuel Arkea SA, (France),
Reg. S, 3.25%, 06/01/2026	EUR	500		534
Reg. S, 3.38%, 09/19/2027	EUR	3,000		3,230
Reg. S, 4.25%, 12/01/2032	EUR	3,600		4,090
Credit Suisse AG, (Switzerland),
Reg. S, 0.25%, 01/05/2026	EUR	1,300		1,322
Reg. S, 0.25%, 09/01/2028	EUR	1,200		1,127
Reg. S, 1.50%, 04/10/2026	EUR	400		414
Reg. S, 5.50%, 08/20/2026	EUR	2,000		2,248
7.95%, 01/09/2025		1,700		1,728
Credit Suisse Schweiz AG, (Switzerland),
Reg. S, 0.00%, 10/31/2030	CHF	25		25
Reg. S, 3.39%, 12/05/2025	EUR	100		108
Credito Emiliano SpA, (Italy),
Reg. S, (ICE LIBOR EUR 3 Month + 1.05%), 1.13%, 01/19/2028 (aa)	EUR	2,000		2,016
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 4.88%, 03/26/2030 (aa)	EUR	12,900		14,607
Crelan SA, (Belgium), Reg. S, 5.75%, 01/26/2028	EUR	900		1,021
Danske Bank A/S, (Denmark),
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.15%), 0.50%, 08/27/2025 (aa)	EUR	425		452
Reg. S, 0.63%, 05/26/2025	EUR	3,000		3,124

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 1 Year + 0.88%), 0.75%, 06/09/2029 (aa)	EUR	3,500		3,344
Reg. S, (EUR Swap Rate 5 Year + 1.40%), 1.00%, 05/15/2031 (aa)	EUR	1,000		1,011
Reg. S, (EUR Swap Rate 1 Year + 0.85%), 1.38%, 02/17/2027 (aa)	EUR	1,000		1,030
Reg. S, (UK Gilts 1 Year + 1.65%), 2.25%, 01/14/2028 (aa)	GBP	5,000		5,809
(CMT Index 1 Year + 0.95%), 5.43%, 03/01/2028 (e) (aa)		1,090		1,093
(CMT Index 1 Year + 1.18%), 6.26%, 09/22/2026 (e) (aa)		1,480		1,495
(CMT Index 1 Year + 2.10%), 6.47%, 01/09/2026 (e) (aa)		1,175		1,180
Danske Hypotek AB, (Sweden),
Series 2512, Reg. S, 1.00%, 12/17/2025	SEK	2,000		179
Series 2812, Reg. S, 3.50%, 12/20/2028	SEK	2,000		190
Danske Mortgage Bank plc, (Finland), Reg. S, 0.01%, 11/24/2026	EUR	100		99
DBS Bank Ltd., (Singapore), Reg. S, 2.81%, 10/13/2025	EUR	100		107
de Volksbank NV, (Netherlands),
Reg. S, 1.00%, 03/08/2028	EUR	100		100
Reg. S, 4.63%, 11/23/2027	EUR	100		110
Deutsche Apotheker-und Aerztebank eG, (Germany), Reg. S, 0.01%, 02/06/2029	EUR	100		94
Deutsche Bank AG, (Germany),
Reg. S, 0.13%, 01/21/2030	EUR	75		69
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 1.00%, 11/19/2025 (aa)	EUR	200		212
Reg. S, (ICE LIBOR EUR 3 Month + 1.67%), 1.38%, 06/10/2026 (aa)	EUR	1,000		1,047
Reg. S, 1.63%, 01/20/2027	EUR	2,100		2,134
Reg. S, (ICE LIBOR EUR 3 Month + 1.38%), 1.88%, 02/23/2028 (aa)	EUR	2,900		2,943
(United States SOFR + 1.87%), 2.13%, 11/24/2026 (aa)		2,950		2,782
Reg. S, 2.25%, 09/20/2027	EUR	100		105
Reg. S, 2.63%, 12/16/2024	GBP	1,500		1,853
Reg. S, 3.13%, 10/19/2026	EUR	100		108
(United States SOFR + 2.26%), 3.74%, 01/07/2033 (aa)		200		165
Reg. S, (SONIA Interest Rate Benchmark + 1.94%), 4.00%, 06/24/2026 (aa)	GBP	2,000		2,467
Reg. S, 4.00%, 11/29/2027	EUR	4,100		4,497
Reg. S, (ICE LIBOR EUR 3 Month + 2.95%), 5.00%, 09/05/2030 (aa)	EUR	800		896
Reg. S, (ICE LIBOR EUR 3 Month + 2.50%), 5.38%, 01/11/2029 (aa)	EUR	1,300		1,468
Reg. S, (EUR Swap Rate 5 Year + 6.00%), 5.63%, 05/19/2031 (aa)	EUR	800		872
(United States SOFR + 1.59%), 5.71%, 02/08/2028 (aa)		280		280
(United States SOFR + 3.65%), 7.08%, 02/10/2034 (aa)		2,160		2,223
(United States SOFR + 2.52%), 7.15%, 07/13/2027 (aa)		630		648
Deutsche Kreditbank AG, (Germany), Reg. S, 1.63%, 05/05/2032	EUR	50		49
Deutsche Pfandbriefbank AG, (Germany),
Reg. S, 0.63%, 08/30/2027	EUR	100		98
Reg. S, 1.00%, 04/13/2026	EUR	100		102
DNB Bank ASA, (Norway), Reg. S, (EUR Swap Rate 5 Year + 2.00%), 4.63%, 02/28/2033 (aa)	EUR	5,425		5,936
DNB Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 05/12/2028	EUR	5,000		4,783
Reg. S, 0.01%, 01/21/2031	EUR	100		89
Reg. S, 2.88%, 03/12/2029	EUR	100		108

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		95
Reg. S, 0.01%, 10/27/2028	EUR	25		24
Reg. S, 0.38%, 06/06/2025	EUR	100		104
Reg. S, 0.38%, 03/31/2026	EUR	100		102
Reg. S, 0.88%, 04/17/2034	EUR	100		89
Reg. S, 3.00%, 10/29/2027	EUR	50		54
Reg. S, 3.00%, 11/30/2032	EUR	100		109
Eika Boligkreditt A/S, (Norway), Reg. S, 0.01%, 03/12/2027	EUR	100		99
Erste Group Bank AG, (Austria),
Reg. S, (ICE LIBOR EUR 3 Month + 0.52%), 0.10%, 11/16/2028 (aa)	EUR	1,000		957
Reg. S, 0.13%, 05/17/2028	EUR	1,000		949
Reg. S, 0.50%, 01/12/2037	EUR	100		78
Reg. S, 0.75%, 02/05/2025	EUR	100		105
Reg. S, 0.88%, 05/22/2026	EUR	1,000		1,019
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.10%), 0.88%, 11/15/2032 (aa)	EUR	4,500		4,298
Reg. S, 1.50%, 04/07/2026	EUR	1,000		1,038
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.10%), 1.63%, 09/08/2031 (aa)	EUR	1,000		1,013
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 4.00%, 01/16/2031 (aa)	EUR	1,500		1,661
Reg. S, (ICE LIBOR EUR 3 Month + 1.25%), 4.25%, 05/30/2030 (aa)	EUR	9,800		10,951
Federation des Caisses Desjardins du Quebec, (Canada), Reg. S, 0.01%, 04/08/2026	EUR	100		101
Fifth Third Bancorp,
(United States SOFR + 1.84%), 5.63%, 01/29/2032 (aa)		55		55
(United States SOFR + 2.34%), 6.34%, 07/27/2029 (aa)		1,525		1,573
First Abu Dhabi Bank PJSC, (United Arab Emirates), Reg. S, 0.13%, 02/16/2026	EUR	1,000		1,008
Goldman Sachs Group, Inc. (The),
Reg. S, 0.13%, 08/19/2024	EUR	1,000		1,063
Reg. S, 0.25%, 01/26/2028	EUR	1,000		960
Reg. S, 0.88%, 05/09/2029	EUR	1,000		945
Reg. S, 1.00%, 03/18/2033	EUR	1,000		870
Reg. S, 1.50%, 12/07/2027	GBP	3,000		3,372
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa)		1,815		1,669
2.60%, 02/07/2030		1,895		1,660
(United States SOFR + 1.28%), 2.62%, 04/22/2032 (aa)		2,715		2,278
(United States SOFR + 1.26%), 2.65%, 10/21/2032 (aa)		740		617
(United States SOFR + 1.47%), 2.91%, 07/21/2042 (aa)		865		622
(United States SOFR + 1.41%), 3.10%, 02/24/2033 (aa)		141		121
Reg. S, 3.13%, 07/25/2029	GBP	1,500		1,747
Reg. S, 3.38%, 03/27/2025	EUR	4,000		4,298
(United States SOFR + 1.85%), 3.62%, 03/15/2028 (aa)		480		459
Reg. S, (UK Gilts 1 Year + 1.95%), 3.63%, 10/29/2029 (aa)	GBP	2,000		2,385
(CME Term SOFR 3 Month + 1.63%), 4.02%, 10/31/2038 (aa)		60		52
Reg. S, 4.25%, 01/29/2026	GBP	2,000		2,490
(United States SOFR + 1.51%), 4.39%, 06/15/2027 (aa)		815		800
(United States SOFR + 1.73%), 4.48%, 08/23/2028 (aa)		495		484

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
6.75%, 10/01/2037		170		186
6.88%, 01/18/2038	GBP	825		1,152
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		1,952
Hamburg Commercial Bank AG, (Germany), Reg. S, 3.38%, 02/01/2028	EUR	50		54
HSBC Bank Canada, (Canada), Reg. S, 1.50%, 09/15/2027	EUR	100		102
HSBC Holdings plc, (United Kingdom),
(United States SOFR + 1.29%), 2.21%, 08/17/2029 (aa)		945		828
Reg. S, 2.50%, 03/15/2027	EUR	2,000		2,099
(United States SOFR + 1.43%), 3.00%, 03/10/2026 (aa)		400		390
Reg. S, 3.00%, 06/30/2025	EUR	5,000		5,325
(GBP Swap Rate 1 Year + 1.77%), 3.00%, 05/29/2030 (aa)	GBP	225		255
Reg. S, 3.13%, 06/07/2028	EUR	1,200		1,259
(CME Term SOFR 3 Month + 1.87%), 3.97%, 05/22/2030 (aa)		900		841
Reg. S, (ICE LIBOR EUR 3 Month + 1.94%), 4.86%, 05/23/2033 (aa)	EUR	5,600		6,436
(United States SOFR + 1.57%), 5.89%, 08/14/2027 (aa)		1,720		1,736
Reg. S, 6.00%, 03/29/2040	GBP	5,000		6,292
6.50%, 09/15/2037		400		417
(SONIA Interest Rate Benchmark + 2.12%), 6.80%, 09/14/2031 (aa)	GBP	4,500		6,118
Reg. S, 7.00%, 04/07/2038	GBP	300		418
Huntington Bancshares, Inc.,
(SOFR Compounded Index + 1.87%), 5.71%, 02/02/2035 (aa)		1,980		1,975
(United States SOFR + 2.02%), 6.21%, 08/21/2029 (aa)		365		374
HYPO NOE Landesbank fuer Niederoesterreich und Wien AG, (Austria),
Reg. S, 0.13%, 06/30/2026	EUR	200		197
Reg. S, 3.25%, 04/19/2028	EUR	100		108
Hypo Vorarlberg Bank AG, (Austria), Reg. S, 4.13%, 02/16/2026	EUR	100		108
Iccrea Banca SpA, (Italy), Reg. S, 3.88%, 01/12/2029	EUR	100		110
Industrial & Commercial Bank of China Ltd., (China), Reg. S, 0.13%, 10/28/2024	EUR	2,500		2,628
ING Bank NV, (Netherlands),
Reg. S, 0.13%, 12/08/2031	EUR	100		88
Reg. S, 0.75%, 02/18/2029	EUR	100		97
Reg. S, 2.50%, 02/21/2030	EUR	100		106
ING Belgium SA, (Belgium), Reg. S, 0.01%, 02/20/2030	EUR	100		91
ING Groep NV, (Netherlands),
Reg. S, (ICE LIBOR EUR 3 Month + 0.60%), 0.10%, 09/03/2025 (aa)	EUR	1,000		1,061
Reg. S, (ICE LIBOR EUR 3 Month + 0.43%), 0.13%, 11/29/2025 (aa)	EUR	1,500		1,578
Reg. S, (ICE LIBOR EUR 3 Month + 0.70%), 0.38%, 09/29/2028 (aa)	EUR	1,000		963
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.15%), 0.88%, 06/09/2032 (aa)	EUR	1,000		973
Reg. S, (EUR Swap Rate 5 Year + 1.20%), 1.00%, 11/13/2030 (aa)	EUR	1,000		1,023
Reg. S, (EUR Swap Rate 5 Year + 1.15%), 1.00%, 11/16/2032 (aa)	EUR	1,500		1,454
Reg. S, 1.13%, 02/14/2025	EUR	3,200		3,377
Reg. S, (SONIA Interest Rate Benchmark + 0.91%), 1.13%, 12/07/2028 (aa)	GBP	1,900		2,089
Reg. S, 1.38%, 01/11/2028	EUR	1,000		1,005

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 + 1.01%), 1.73%, 04/01/2027 (aa)		1,465		1,360
Reg. S, 2.00%, 09/20/2028	EUR	800		808
Reg. S, (EUR Swap Rate 5 Year + 1.35%), 2.00%, 03/22/2030 (aa)	EUR	3,000		3,160
Reg. S, (ICE LIBOR EUR 3 Month + 1.10%), 2.13%, 05/23/2026 (aa)	EUR	3,000		3,173
Reg. S, (EUR Swap Rate 5 Year + 2.40%), 2.13%, 05/26/2031 (aa)	EUR	1,300		1,346
Reg. S, 3.00%, 02/18/2026	GBP	2,000		2,430
(United States SOFR + 1.64%), 3.87%, 03/28/2026 (aa)		200		196
Reg. S, (ICE LIBOR EUR 3 Month + 1.85%), 4.88%, 11/14/2027 (aa)	EUR	5,300		5,886
(United States SOFR + 1.56%), 6.08%, 09/11/2027 (aa)		510		517
ING-DiBa AG, (Germany), Reg. S, 0.01%, 10/07/2028	EUR	200		189
Intesa Sanpaolo SpA, (Italy),
Reg. S, 0.38%, 09/14/2026	EUR	100		100
Reg. S, 0.63%, 02/24/2026	EUR	1,000		1,017
Reg. S, 0.75%, 12/04/2024	EUR	500		529
Reg. S, 0.75%, 03/16/2028	EUR	4,373		4,231
Reg. S, 1.00%, 07/04/2024	EUR	1,500		1,606
Reg. S, 1.00%, 09/25/2025	EUR	100		104
Reg. S, 1.35%, 02/24/2031	EUR	1,500		1,371
Reg. S, 1.75%, 03/20/2028	EUR	4,000		4,024
Reg. S, 2.13%, 05/26/2025	EUR	4,375		4,631
Reg. S, 2.50%, 01/15/2030	GBP	3,000		3,239
Reg. S, 4.75%, 09/06/2027	EUR	1,000		1,112
Reg. S, 5.25%, 01/13/2030	EUR	1,458		1,704
7.00%, 11/21/2025 (e)		1,060		1,080
7.20%, 11/28/2033 (e)		225		243
7.80%, 11/28/2053 (e)		850		966
(CMT Index 1 Year + 4.40%), 8.25%, 11/21/2033 (e) (aa)		640		716
Series XR, 3.25%, 09/23/2024 (e)		2,900		2,865
Investec plc, (United Kingdom),
Reg. S, (UK Gilts 1 Year + 1.50%), 1.88%, 07/16/2028 (aa)	GBP	1,500		1,648
Reg. S, (UK Gilts 5 Year + 2.05%), 2.63%, 01/04/2032 (aa)	GBP	1,000		1,116
Investitionsbank Berlin, (Germany),
Reg. S, 2.75%, 10/04/2027	EUR	300		322
Series 208, 0.05%, 03/02/2035	EUR	100		80
Jyske Bank A/S, (Denmark), Reg. S, (EUR Swap Rate 1 Year + 2.10%), 4.63%, 04/11/2026 (aa)	EUR	6,400		6,944
KBC Bank NV, (Belgium), Reg. S, 3.75%, 09/28/2026	EUR	100		109
KBC Group NV, (Belgium),
Reg. S, 0.63%, 04/10/2025	EUR	8,000		8,368
Reg. S, (UK Gilts 1 Year + 0.92%), 1.25%, 09/21/2027 (aa)	GBP	5,000		5,752
Reg. S, (UK Gilts 5 Year + 2.25%) 6.15%, 03/19/2034 (aa)	GBP	4,000		5,084
KeyCorp., (SOFR Compounded Index + 2.42%), 6.40%, 03/06/2035 (aa)		520		531
Kookmin Bank, (South Korea), Reg. S, 0.05%, 10/19/2026	EUR	1,800		1,783

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Kreditanstalt fuer Wiederaufbau, (Germany),
Reg. S, 0.00%, 06/15/2026	EUR	500		506
Reg. S, 0.00%, 03/31/2027	EUR	500		496
Reg. S, 0.00%, 04/30/2027	EUR	1,230		1,219
Reg. S, 0.00%, 12/15/2027	EUR	1,140		1,112
Reg. S, 0.00%, 09/15/2028	EUR	1,325		1,270
Reg. S, 0.00%, 11/09/2028	EUR	1,490		1,422
Reg. S, 0.00%, 06/15/2029	EUR	254		239
Reg. S, 0.00%, 09/17/2030	EUR	3,108		2,827
Reg. S, 0.00%, 01/10/2031	EUR	670		604
Reg. S, 0.01%, 05/05/2027	EUR	520		515
Reg. S, 0.05%, 09/29/2034	EUR	780		635
Reg. S, 0.13%, 01/09/2032	EUR	830		737
0.25%, 09/15/2025	EUR	1,100		1,138
0.38%, 07/18/2025		1,400		1,321
Reg. S, 0.38%, 04/23/2030	EUR	360		339
Reg. S, 0.38%, 05/20/2036	EUR	548		445
Reg. S, 0.50%, 09/28/2026	EUR	2,520		2,569
0.50%, 09/15/2027	EUR	500		500
0.63%, 01/07/2028	EUR	720		719
Reg. S, 0.75%, 01/15/2029	EUR	500		493
Reg. S, 0.88%, 09/15/2026	GBP	5,000		5,803
Reg. S, 0.88%, 07/04/2039	EUR	400		324
Reg. S, 1.13%, 05/09/2033	EUR	550		519
Reg. S, 1.13%, 03/31/2037	EUR	700		617
Reg. S, 1.38%, 12/15/2025	GBP	425		508
Reg. S, 1.38%, 07/31/2035	EUR	202		188
2.00%, 05/02/2025		195		189
Reg. S, 2.00%, 11/15/2029	EUR	500		521
2.50%, 11/20/2024		750		737
Reg. S, 2.50%, 11/19/2025	EUR	2,450		2,618
Reg. S, 2.75%, 05/15/2030	EUR	525		570
Reg. S, 2.75%, 02/14/2033	EUR	700		759
Reg. S, 2.88%, 06/07/2033	EUR	500		548
Reg. S, 3.13%, 10/10/2028	EUR	1,000		1,098
Reg. S, 4.13%, 02/18/2026	GBP	20,000		25,072
4.63%, 08/07/2026		120		120
4.70%, 06/02/2037	CAD	100		76
Reg. S, 4.88%, 03/15/2037	GBP	825		1,105
5.75%, 06/07/2032	GBP	1,300		1,839
6.00%, 12/07/2028	GBP	2,500		3,413
Kutxabank SA, (Spain), Reg. S, 1.25%, 09/22/2025	EUR	100		104

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
La Banque Postale SA, (France),
Reg. S, 0.25%, 07/12/2026	EUR	200		201
Reg. S, 0.75%, 06/23/2031	EUR	100		89
Reg. S, (ICE LIBOR EUR 3 Month + 0.78%), 1.00%, 02/09/2028 (aa)	EUR	400		400
Reg. S, 1.38%, 04/24/2029	EUR	200		195
Reg. S, 4.00%, 05/03/2028	EUR	200		220
Reg. S, (EUR Swap Rate 5 Year + 2.85%), 5.50%, 03/05/2034 (aa)	EUR	100		113
Landesbank Baden-Wuerttemberg, (Germany),
Reg. S, 0.25%, 07/21/2028	EUR	200		185
Reg. S, 0.38%, 02/18/2027	EUR	200		195
Reg. S, 0.38%, 02/28/2028	EUR	200		189
Reg. S, 0.38%, 05/07/2029	EUR	100		91
Reg. S, 0.88%, 09/15/2025	EUR	100		104
Reg. S, 3.25%, 09/27/2027	EUR	50		55
Series 809, Reg. S, 0.38%, 07/29/2026	EUR	100		99
Landesbank Hessen-Thueringen Girozentrale, (Germany),
Reg. S, 0.01%, 07/19/2027	EUR	100		98
Reg. S, 0.38%, 06/04/2029	EUR	100		91
Reg. S, 0.63%, 01/12/2027	EUR	100		101
Reg. S, 2.88%, 02/06/2034	EUR	100		108
Reg. S, 4.00%, 02/04/2030	EUR	100		110
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.75%), 4.50%, 09/15/2032 (aa)	EUR	100		102
Landeskreditbank Baden-Wuerttemberg Foerderbank, (Germany),
Reg. S, 0.38%, 02/25/2027	EUR	400		401
Reg. S, 0.63%, 12/15/2025	GBP	2,000		2,354
Landwirtschaftliche Rentenbank, (Germany),
Reg. S, 0.00%, 09/28/2026	EUR	535		537
Reg. S, 0.00%, 07/19/2028	EUR	1,700		1,634
Reg. S, 0.00%, 12/13/2028	EUR	720		685
Reg. S, 0.00%, 11/27/2029	EUR	120		111
Reg. S, 0.01%, 11/26/2040	EUR	200		133
Reg. S, 0.05%, 12/18/2029	EUR	180		167
Reg. S, 0.10%, 03/08/2027	EUR	200		199
Reg. S, 0.25%, 08/29/2025	EUR	300		311
Reg. S, 0.38%, 02/14/2028	EUR	1,140		1,124
Reg. S, 0.50%, 02/28/2029	EUR	400		388
Reg. S, 0.63%, 02/20/2030	EUR	140		134
Reg. S, 0.63%, 10/31/2036	EUR	75		62
Reg. S, 0.88%, 12/15/2026	GBP	2,000		2,304
Reg. S, 2.75%, 02/16/2032	EUR	200		216
Reg. S, 3.25%, 09/06/2030	EUR	300		334
Lloyds Bank plc, (United Kingdom),
Reg. S, 0.13%, 06/18/2026	EUR	100		100
Reg. S, 6.00%, 02/08/2029	GBP	100		135
Reg. S, 6.50%, 09/17/2040	GBP	300		433

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Lloyds Banking Group plc, (United Kingdom),
(UK Gilts 5 Year + 1.60%), 1.99%, 12/15/2031 (aa)	GBP	1,900		2,174
Reg. S, (UK Gilts 5 Year + 2.40%), 2.71%, 12/03/2035 (aa)	GBP	600		615
Reg. S, (ICE LIBOR EUR 3 Month + 1.72%), 4.50%, 03/18/2030 (aa)	EUR	4,000		4,294
(CMT Index 1 Year + 1.48%), 5.99%, 08/07/2027 (aa)		2,150		2,171
M&T Bank Corp., (United States SOFR + 2.26%), 6.08%, 03/13/2032 (aa)		235		235
Macquarie Group Ltd., (Australia),
Reg. S, 2.13%, 10/01/2031	GBP	1,500		1,576
Reg. S, 4.08%, 05/31/2029	GBP	2,000		2,419
Mediobanca Banca di Credito Finanziario SpA, (Italy),
Reg. S, 0.75%, 07/15/2027	EUR	425		418
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 1.00%, 07/17/2029 (aa)	EUR	10,000		9,683
Reg. S, 1.13%, 07/15/2025	EUR	975		1,017
Reg. S, 2.38%, 06/30/2027	EUR	100		104
Reg. S, (ICE LIBOR EUR 3 Month + 1.45%), 4.88%, 09/13/2027 (aa)	EUR	8,050		8,901
Series 4, Reg. S, 1.38%, 11/10/2025	EUR	100		104
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 0.75%), 1.54%, 07/20/2027 (aa)		2,000		1,843
Reg. S, (ICE LIBOR EUR 3 Month + 0.94%), 2.26%, 06/14/2025 (aa)	EUR	2,275		2,445
(CMT Index 1 Year + 0.83%), 2.34%, 01/19/2028 (aa)		440		408
Reg. S, 3.56%, 06/15/2032	EUR	10,000		11,019
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		555		553
(CMT Index 1 Year + 1.90%), 5.35%, 09/13/2028 (aa)		3,450		3,468
Mizuho Financial Group, Inc., (Japan),
Reg. S, 0.12%, 09/06/2024	EUR	1,000		1,062
Reg. S, 0.21%, 10/07/2025	EUR	2,000		2,053
Reg. S, 2.10%, 04/08/2032	EUR	1,000		973
(CME Term SOFR 3 Month + 1.09%), 2.23%, 05/25/2026 (aa)		3,000		2,893
(CMT Index 1 Year + 0.90%), 2.65%, 05/22/2026 (aa)		1,000		969
Reg. S, 4.42%, 05/20/2033	EUR	20,000		22,793
(CMT Index 1 Year + 2.05%), 5.41%, 09/13/2028 (aa)		1,400		1,412
Reg. S, 5.63%, 06/13/2028	GBP	3,150		4,079
(CMT Index 1 Year + 1.90%), 5.75%, 07/06/2034 (aa)		780		805
Morgan Stanley,
(ICE LIBOR EUR 3 Month + 0.70%), 0.41%, 10/29/2027 (aa)	EUR	4,350		4,330
(United States SOFR + 0.56%), 1.16%, 10/21/2025 (aa)		1,240		1,207
(United States SOFR + 0.86%), 1.51%, 07/20/2027 (aa)		779		715
(United States SOFR + 0.88%), 1.59%, 05/04/2027 (aa)		90		83
(ICE LIBOR EUR 3 Month + 0.90%), 2.10%, 05/08/2026 (aa)	EUR	900		952
(United States SOFR + 1.18%), 2.24%, 07/21/2032 (aa)		110		90
(United States SOFR + 1.00%), 2.48%, 01/21/2028 (aa)		2		2
2.63%, 03/09/2027	GBP	1,425		1,685
(United States SOFR + 1.14%), 2.70%, 01/22/2031 (aa)		1,000		874
(United States SOFR + 1.43%), 2.80%, 01/25/2052 (aa)		45		29

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
(ICE LIBOR EUR 3 Month + 1.25%), 2.95%, 05/07/2032 (aa)	EUR	2,200		2,279
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa)		120		120
(United States SOFR + 3.12%), 3.62%, 04/01/2031 (aa)		8		7
(CME Term SOFR 3 Month + 1.40%), 3.77%, 01/24/2029 (aa)		6		6
(ICE LIBOR EUR 3 Month + 1.04%), 3.79%, 03/21/2030 (aa)	EUR	1,600		1,740
3.95%, 04/23/2027		117		113
(ICE LIBOR EUR 3 Month + 1.24%), 3.96%, 03/21/2035 (aa)	EUR	2,300		2,518
(United States SOFR + 1.61%), 4.21%, 04/20/2028 (aa)		3		3
(CME Term SOFR 3 Month + 1.89%), 4.43%, 01/23/2030 (aa)		104		101
(CME Term SOFR 3 Month + 1.69%), 4.46%, 04/22/2039 (aa)		10		9
(United States SOFR + 1.67%), 4.68%, 07/17/2026 (aa)		918		908
(United States SOFR + 1.73%), 5.12%, 02/01/2029 (aa)		78		78
(United States SOFR + 1.59%), 5.16%, 04/20/2029 (aa)		110		110
(United States SOFR + 1.45%), 5.17%, 01/16/2030 (aa)		2,275		2,278
(United States SOFR + 1.87%), 5.25%, 04/21/2034 (aa)		385		382
(United States SOFR + 1.88%), 5.42%, 07/21/2034 (aa)		795		798
(United States SOFR + 1.63%), 5.45%, 07/20/2029 (aa)		668		674
(United States SOFR + 1.73%), 5.47%, 01/18/2035 (aa)		210		212
(SONIA Interest Rate Benchmark + 2.25%), 5.79%, 11/18/2033 (aa)	GBP	4,300		5,695
(CMT Index 5 Year + 2.43%), 5.95%, 01/19/2038 (aa)		135		135
(United States SOFR + 2.24%), 6.30%, 10/18/2028 (aa)		1,020		1,055
(United States SOFR + 2.56%), 6.34%, 10/18/2033 (aa)		300		322
Muenchener Hypothekenbank eG, (Germany),
Reg. S, 0.01%, 11/02/2040	EUR	50		33
Reg. S, 0.13%, 02/01/2029	EUR	50		47
Reg. S, 1.00%, 04/18/2039	EUR	50		41
Reg. S, 2.50%, 07/04/2028	EUR	50		53
Reg. S, 3.00%, 02/01/2034	EUR	50		54
National Australia Bank Ltd., (Australia),
Reg. S, 0.25%, 05/20/2024	EUR	1,000		1,074
Reg. S, 0.63%, 09/18/2024	EUR	1,000		1,062
Reg. S, 1.25%, 05/18/2026	EUR	1,000		1,039
Reg. S, (UK Gilts 5 Year + 1.40%), 1.70%, 09/15/2031 (aa)	GBP	1,425		1,618
Reg. S, 2.13%, 05/24/2028	EUR	500		516
Reg. S, 2.35%, 08/30/2029	EUR	100		104
National Bank of Canada, (Canada),
Reg. S, 0.75%, 03/13/2025	EUR	100		105
5.25%, 01/17/2025		250		249
Nationale-Nederlanden Bank NV (The), (Netherlands), Reg. S, 0.01%, 07/08/2030	EUR	100		90
NatWest Group plc, (United Kingdom),
Reg. S, (ICE LIBOR EUR 3 Month + 0.89%), 0.67%, 09/14/2029 (aa)	EUR	2,000		1,894
Reg. S, (EUR Swap Rate 5 Year + 1.27%), 1.04%, 09/14/2032 (aa)	EUR	1,875		1,810
Reg. S, (UK Gilts 5 Year + 1.75%), 2.11%, 11/28/2031 (aa)	GBP	600		689
Reg. S, (GBP Swap Rate 1 Year + 1.49%), 2.88%, 09/19/2026 (aa)	GBP	2,000		2,433
Reg. S, (UK Gilts 1 Year + 2.10%), 3.62%, 03/29/2029 (aa)	GBP	4,000		4,740

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Markets plc, (United Kingdom),
Reg. S, 0.13%, 06/18/2026	EUR	1,000		1,004
Reg. S, 2.00%, 08/27/2025	EUR	1,000		1,054
NIBC Bank NV, (Netherlands), Reg. S, 0.13%, 04/21/2031	EUR	100		88
NORD / LB Luxembourg SA Covered Bond Bank, (Luxembourg), Reg. S, 0.01%, 06/10/2027	EUR	100		97
Norddeutsche Landesbank-Girozentrale, (Germany),
Reg. S, 0.01%, 09/23/2026	EUR	100		100
Reg. S, 0.25%, 10/28/2026	EUR	20		20
Reg. S, 0.50%, 06/29/2026	EUR	50		51
Reg. S, 3.13%, 02/20/2026	EUR	50		54
Nordea Bank Abp, (Finland),
Reg. S, 4.13%, 05/05/2028	EUR	6,025		6,652
Reg. S, (EUR Swap Rate 5 Year + 1.85%), 4.88%, 02/23/2034 (aa)	EUR	2,825		3,146
Nordea Hypotek AB, (Sweden),
Series 5535, Reg. S, 1.00%, 09/17/2025	SEK	400		36
Series 5536, Reg. S, 0.50%, 09/16/2026	SEK	1,700		149
Series 5537, Reg. S, 1.00%, 06/16/2027	SEK	2,000		175
Series 5538, Reg. S, 3.50%, 09/20/2028	SEK	2,000		189
Nordea Kiinnitysluottopankki OYJ, (Finland),
Reg. S, 0.13%, 06/18/2027	EUR	100		98
Reg. S, 2.50%, 09/14/2032	EUR	100		105
NRW Bank, (Germany),
Reg. S, 0.00%, 07/28/2031	EUR	138		122
Reg. S, 0.10%, 07/09/2035	EUR	300		238
Reg. S, 0.38%, 12/16/2024	GBP	2,000		2,441
Reg. S, 0.38%, 05/16/2029	EUR	550		526
Reg. S, 0.50%, 05/26/2025	EUR	320		334
Reg. S, 0.50%, 06/17/2041	EUR	100		71
Reg. S, 0.75%, 06/30/2028	EUR	260		258
1.20%, 03/28/2039	EUR	100		84
1.25%, 05/13/2049	EUR	87		63
2.75%, 02/21/2029	EUR	500		539
Reg. S, 3.00%, 05/31/2030	EUR	173		189
Nykredit Realkredit A/S, (Denmark),
Reg. S, (EUR Swap Rate 5 Year + 1.18%), 0.88%, 07/28/2031 (aa)	EUR	5,000		4,993
Series 13G, Reg. S, 1.00%, 04/01/2026	DKK	300		41
Series 13H, Reg. S, 1.00%, 07/01/2026	DKK	600		83
Series 13H, Reg. S, 1.00%, 01/01/2027	DKK	1,000		137
Series 13H, Reg. S, 1.00%, 07/01/2027	DKK	800		109
Series 13H, Reg. S, 1.00%, 01/01/2028	DKK	200		27
Series 13H, Reg. S, 1.00%, 07/01/2028	DKK	400		54
Series 13H, Reg. S, 2.00%, 01/01/2025	DKK	300		43
Series 13H, Reg. S, 2.00%, 01/01/2026	DKK	1,000		142
Series SDO, Reg. S, 1.00%, 01/01/2029	DKK	700		93

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Oesterreichische Kontrollbank AG, (Austria),
Reg. S, 0.00%, 10/08/2026	EUR	150		150
Reg. S, 0.25%, 09/26/2024	EUR	300		318
OP Corporate Bank plc, (Finland), Reg. S, 4.13%, 04/18/2027	EUR	3,000		3,307
OP Mortgage Bank, (Finland),
Reg. S, 0.63%, 02/15/2029	EUR	100		96
Reg. S, 1.00%, 10/05/2027	EUR	100		101
Reg. S, 3.00%, 07/17/2031	EUR	100		108
Pfandbriefbank schweizerischer Hypothekarinstitute AG, (Switzerland),
Reg. S, 0.00%, 02/26/2030	CHF	800		821
Series 678, Reg. S, 0.00%, 08/26/2049	CHF	40		31
Series 682, Reg. S, 0.00%, 04/06/2027	CHF	100		106
Series 683, Reg. S, 0.00%, 02/25/2028	CHF	200		211
Series 684, Reg. S, 0.00%, 05/10/2045	CHF	125		103
Series 695, Reg. S, 0.00%, 10/26/2029	CHF	250		258
Series 697, Reg. S, 0.00%, 05/20/2041	CHF	250		217
Series 706, Reg. S, 0.13%, 08/19/2031	CHF	200		203
Series 743, Reg. S, 1.75%, 07/09/2038	CHF	50		58
Pfandbriefzentrale der schweizerischen Kantonalbanken AG, (Switzerland),
Series 483, Reg. S, 0.00%, 01/27/2027	CHF	550		588
Series 517, Reg. S, 0.00%, 04/02/2031	CHF	100		101
Series 524, Reg. S, 0.00%, 06/21/2028	CHF	50		53
Series 528, Reg. S, 0.00%, 03/15/2030	CHF	50		51
Series 530, Reg. S, 0.00%, 03/18/2033	CHF	370		363
Series 531, Reg. S, 0.00%, 02/15/2036	CHF	255		240
Series 534, Reg. S, 0.00%, 03/13/2028	CHF	50		53
Series 538, Reg. S, 0.00%, 07/25/2031	CHF	80		80
Series 576, Reg. S, 1.85%, 07/19/2038	CHF	50		59
PNC Financial Services Group, Inc. (The),
(United States SOFR + 1.84%), 5.58%, 06/12/2029 (aa)		895		906
(SOFR Compounded Index + 1.09%), 5.67%, 10/28/2025 (aa)		580		580
(United States SOFR + 1.90%), 5.68%, 01/22/2035 (aa)		485		490
(United States SOFR + 1.32%), 5.81%, 06/12/2026 (aa)		180		181
(SOFR Compounded Index + 1.73%), 6.62%, 10/20/2027 (aa)		80		82
(United States SOFR + 2.28%), 6.88%, 10/20/2034 (aa)		760		833
Raiffeisen Bank International AG, (Austria),
Reg. S, 0.25%, 01/22/2025	EUR	3,600		3,761
Reg. S, 3.88%, 03/16/2026	EUR	100		108
Reg. S, (ICE LIBOR EUR 3 Month + 1.95%), 4.63%, 08/21/2029 (aa)	EUR	2,500		2,690
Reg. S, (ICE LIBOR EUR 3 Month + 1.95%), 4.75%, 01/26/2027 (aa)	EUR	700		761
Reg. S, 5.75%, 01/27/2028	EUR	9,000		10,293
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 5.20%), 7.38%, 12/20/2032 (aa)	EUR	7,000		7,855

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Raiffeisenlandesbank Niederoesterreich-Wien AG, (Austria),
Reg. S, 0.63%, 08/28/2026	EUR	200		202
Reg. S, 3.25%, 01/11/2030	EUR	100		109
Raiffeisenlandesbank Oberoesterreich AG, (Austria), Reg. S, 1.25%, 04/26/2027	EUR	100		102
Raiffeisen-Landesbank Steiermark AG, (Austria), Reg. S, 2.38%, 06/14/2028	EUR	100		104
Raiffeisen-Landesbank Tirol AG, (Austria), Reg. S, 3.00%, 01/24/2028	EUR	100		107
Rheinland-Pfalz Bank, (Germany), SUB, 6.88%, 02/23/2028 (e)		200		212
Royal Bank of Canada, (Canada),
Reg. S, 0.01%, 10/05/2028	EUR	100		94
Reg. S, 0.13%, 04/26/2027	EUR	700		687
Reg. S, 0.63%, 09/10/2025	EUR	100		104
1.15%, 06/10/2025		100		95
Reg. S, 2.38%, 09/13/2027	EUR	150		158
3.63%, 05/04/2027		90		87
4.95%, 02/01/2029		130		130
5.20%, 08/01/2028		496		501
6.00%, 11/01/2027		30		31
Santander Consumer Bank A/S, (Norway), Reg. S, 0.13%, 02/25/2025	EUR	5,200		5,427
Santander Holdings USA, Inc.,
3.45%, 06/02/2025		45		44
(United States SOFR + 2.50%), 6.17%, 01/09/2030 (aa)		145		146
(United States SOFR + 2.36%), 6.50%, 03/09/2029 (aa)		190		195
Santander UK Group Holdings plc, (United Kingdom), (United States SOFR + 2.75%), 6.83%, 11/21/2026 (aa)		2,200		2,237
Santander UK plc, (United Kingdom), Reg. S, 0.05%, 01/12/2027	EUR	100		99
Skandinaviska Enskilda Banken AB, (Sweden),
Reg. S, 0.05%, 07/01/2024	EUR	1,475		1,576
Reg. S, 3.25%, 11/24/2025	EUR	6,825		7,323
Reg. S, 3.25%, 05/04/2028	EUR	100		109
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.80%), 4.50%, 11/27/2034 (aa)	EUR	14,475		15,756
5.13%, 03/05/2027 (e)		675		676
Series 581, Reg. S, 0.50%, 12/16/2026	SEK	2,000		173
Series 601, Reg. S, 3.00%, 12/06/2027	SEK	2,000		186
Societe Generale SA, (France),
Reg. S, 0.13%, 02/24/2026	EUR	1,000		1,015
Reg. S, (ICE LIBOR EUR 3 Month + 0.80%), 0.63%, 12/02/2027 (aa)	EUR	4,000		3,972
Reg. S, (ICE LIBOR EUR 3 Month + 1.28%), 0.88%, 09/22/2028 (aa)	EUR	2,300		2,251
(EUR Swap Rate 5 Year + 1.55%), 1.00%, 11/24/2030 (aa)	EUR	1,000		1,022
Reg. S, 1.13%, 01/23/2025	EUR	200		211
Reg. S, (ICE LIBOR EUR 3 Month + 1.50%), 1.13%, 04/21/2026 (aa)	EUR	1,700		1,781
Reg. S, 1.25%, 12/07/2027	GBP	3,000		3,322
Reg. S, 1.25%, 06/12/2030	EUR	2,000		1,868
Reg. S, (ICE LIBOR EUR 3 Month + 0.60%), 1.50%, 05/30/2025 (aa)	EUR	500		537
(CMT Index 1 Year + 1.05%), 2.23%, 01/21/2026 (e) (aa)		2,850		2,763
Reg. S, 2.63%, 05/30/2029	EUR	1,000		1,042

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 + 1.30%), 2.80%, 01/19/2028 (e) (aa)		2,595		2,396
Reg. S, 4.00%, 11/16/2027	EUR	3,000		3,296
Reg. S, (EUR Swap Rate 5 Year + 3.10%), 5.25%, 09/06/2032 (aa)	EUR	1,900		2,110
(CMT Index 1 Year + 1.50%), 5.52%, 01/19/2028 (e) (aa)		1,800		1,788
Reg. S, 6.25%, 06/22/2033	GBP	2,000		2,726
(CMT Index 1 Year + 2.95%), 7.13%, 01/19/2055 (e) (aa)		250		250
SpareBank 1 Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 09/22/2027	EUR	5,000		4,864
Reg. S, 0.13%, 05/14/2026	EUR	100		101
Reg. S, 0.13%, 05/12/2031	EUR	100		88
Reg. S, 1.00%, 01/30/2029	EUR	100		99
Sparebank 1 Oestlandet, (Norway),
Reg. S, 0.25%, 09/30/2024	EUR	600		635
Reg. S, 1.75%, 04/27/2027	EUR	1,000		1,026
Sparebanken Soer Boligkreditt A/S, (Norway),
Reg. S, 0.01%, 09/25/2028	EUR	5,000		4,715
Reg. S, 0.50%, 02/06/2026	EUR	100		103
SP-Kiinnitysluottopankki OYJ, (Finland), Reg. S, 3.13%, 11/01/2027	EUR	100		108
SR-Boligkreditt A/S, (Norway), Reg. S, 0.01%, 03/10/2031	EUR	100		88
Stadshypotek AB, (Sweden),
Reg. S, 0.01%, 11/24/2028	EUR	100		94
Reg. S, 0.50%, 07/11/2025	EUR	100		104
Reg. S, 3.63%, 06/20/2028	SEK	2,000		191
Series 1590, Reg. S, 1.00%, 09/03/2025	SEK	2,000		180
Series 1591, Reg. S, 0.50%, 06/01/2026	SEK	2,000		176
Series 1592, Reg. S, 1.00%, 03/01/2027	SEK	2,000		176
Series 1594, Reg. S, 2.00%, 09/01/2028	SEK	2,000		178
Standard Chartered plc, (United Kingdom), (CMT Index 1 Year + 1.00%), 1.46%, 01/14/2027 (e) (aa)		1,200		1,113
Sumitomo Mitsui Financial Group, Inc., (Japan),
Reg. S, 1.55%, 06/15/2026	EUR	6,000		6,201
5.46%, 01/13/2026		200		201
5.52%, 01/13/2028		200		204
5.71%, 01/13/2030		200		206
Sumitomo Mitsui Trust Bank Ltd., (Japan),
Reg. S, 0.01%, 10/15/2027	EUR	2,000		1,916
5.20%, 03/07/2027 (e)		1,120		1,121
Svenska Handelsbanken AB, (Sweden),
Reg. S, 0.05%, 09/06/2028	EUR	1,000		941
Reg. S, 0.13%, 11/03/2026	EUR	3,200		3,179
Reg. S, 0.50%, 02/18/2030	EUR	1,875		1,714
Reg. S, 1.00%, 04/15/2025	EUR	2,000		2,097
Reg. S, (EUR Swap Rate 5 Year + 1.80%), 3.25%, 06/01/2033 (aa)	EUR	1,500		1,558
Reg. S, 3.75%, 11/01/2027	EUR	1,200		1,314
Sveriges Sakerstallda Obligationer AB, (Sweden),
Reg. S, 0.01%, 03/14/2030	EUR	100		91
Reg. S, 0.63%, 10/30/2025	EUR	100		103
Series 146, Reg. S, 0.50%, 06/11/2025	SEK	2,000		180

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 147, Reg. S, 2.00%, 06/17/2026	SEK	1,000		91
Series 148, Reg. S, 0.25%, 06/09/2027	SEK	2,000		171
Swedbank AB, (Sweden),
Reg. S, (EUR Swap Rate 1 Year + 0.57%), 0.30%, 05/20/2027 (aa)	EUR	1,500		1,505
Reg. S, 0.75%, 05/05/2025	EUR	1,300		1,357
Reg. S, 1.30%, 02/17/2027	EUR	1,000		1,010
Reg. S, (UK Gilts 1 Year + 1.00%), 1.38%, 12/08/2027 (aa)	GBP	1,500		1,716
Reg. S, 2.10%, 05/25/2027	EUR	1,000		1,040
Reg. S, (EUR Swap Rate 5 Year + 2.15%), 3.63%, 08/23/2032 (aa)	EUR	1,500		1,582
Reg. S, 4.38%, 09/05/2030	EUR	10,000		11,249
Reg. S, (UK Gilts 5 Year + 3.80%), 7.27%, 11/15/2032 (aa)	GBP	6,000		7,870
Toronto-Dominion Bank (The), (Canada),
Reg. S, 0.86%, 03/24/2027	EUR	1,800		1,813
1.25%, 09/10/2026		20		18
Reg. S, 1.71%, 07/28/2025	EUR	100		105
Reg. S, 2.88%, 04/05/2027	GBP	5,000		5,946
Reg. S, 3.19%, 02/16/2029	EUR	100		109
Reg. S, 3.72%, 03/13/2030	EUR	100		112
Reg. S, 3.77%, 09/08/2026	EUR	100		109
Reg. S, 3.88%, 03/13/2026	EUR	100		109
4.69%, 09/15/2027		515		510
5.26%, 12/11/2026		1,775		1,787
Truist Financial Corp.,
1.20%, 08/05/2025		460		435
3.88%, 03/19/2029		1,400		1,301
(United States SOFR + 1.62%), 5.44%, 01/24/2030 (aa)		950		949
(United States SOFR + 2.36%), 5.87%, 06/08/2034 (aa)		670		679
(United States SOFR + 2.05%), 6.05%, 06/08/2027 (aa)		220		223
(United States SOFR + 2.45%), 7.16%, 10/30/2029 (aa)		620		662
UBS AG, (Switzerland),
Reg. S, 0.50%, 03/31/2031	EUR	9,000		7,939
5.65%, 09/11/2028		589		603
UBS Group AG, (Switzerland),
Reg. S, 0.25%, 02/24/2028	EUR	1,000		953
Reg. S, (EUR Swap Rate 1 Year + 0.77%), 0.25%, 11/05/2028 (aa)	EUR	1,200		1,144
Reg. S, 0.63%, 01/18/2033	EUR	10,584		8,692
Reg. S, 0.63%, 02/24/2033	EUR	1,000		823
Reg. S, (EUR Swap Rate 1 Year + 0.75%), 1.25%, 04/17/2025 (aa)	EUR	200		215
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 0.75%), 1.25%, 07/17/2025 (aa)	EUR	1,400		1,498
Reg. S, 1.25%, 09/01/2026	EUR	1,000		1,022
Reg. S, (EUR Swap Rate 1 Year + 1.60%), 2.13%, 10/13/2026 (aa)	EUR	700		735
(CMT Index 1 Year + 1.10%), 2.75%, 02/11/2033 (e) (aa)		1,000		818
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.15%), 2.75%, 06/15/2027 (aa)	EUR	5,000		5,272
Reg. S, (EUR Swap Rate 1 Year + 1.95%), 2.88%, 04/02/2032 (aa)	EUR	2,600		2,630

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 + 1.73%), 3.09%, 05/14/2032 (e) (aa)		755		642
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.35%), 3.13%, 06/15/2030 (aa)	EUR	1,500		1,573
Reg. S, (ICE EURIBOR Swap Rate 1 Year + 1.55%), 4.38%, 01/11/2031 (aa)	EUR	2,000		2,221
Reg. S, (UK Gilts 1 Year + 4.55%), 7.38%, 09/07/2033 (aa)	GBP	10,000		14,301
UniCredit Bank Austria AG, (Austria), Reg. S, 0.05%, 09/21/2035	EUR	100		76
UniCredit Bank GmbH, (Germany),
Reg. S, 0.01%, 09/15/2028	EUR	50		47
Reg. S, 0.01%, 03/10/2031	EUR	125		111
Reg. S, 0.85%, 05/22/2034	EUR	50		44
Reg. S, 0.88%, 01/11/2029	EUR	100		98
UniCredit SpA, (Italy),
Reg. S, 0.33%, 01/19/2026	EUR	1,000		1,018
Reg. S, 0.38%, 10/31/2026	EUR	100		100
Reg. S, 0.50%, 04/09/2025	EUR	1,000		1,043
Reg. S, (ICE LIBOR EUR 3 Month + 0.90%), 0.80%, 07/05/2029 (aa)	EUR	1,000		964
Reg. S, 0.85%, 01/19/2031	EUR	1,000		898
Reg. S, (ICE LIBOR EUR 3 Month + 0.85%), 0.93%, 01/18/2028 (aa)	EUR	1,000		1,006
Reg. S, (ICE LIBOR EUR 3 Month + 1.35%), 1.20%, 01/20/2026 (aa)	EUR	3,275		3,455
Reg. S, (ICE LIBOR EUR 3 Month + 1.55%), 1.25%, 06/25/2025 (aa)	EUR	1,000		1,072
Reg. S, (ICE LIBOR EUR 3 Month + 1.90%), 1.63%, 07/03/2025 (aa)	EUR	500		536
Reg. S, 1.63%, 01/18/2032	EUR	1,615		1,509
Reg. S, 1.80%, 01/20/2030	EUR	7,900		7,613
Reg. S, 2.13%, 10/24/2026	EUR	1,000		1,045
Reg. S, (ICE LIBOR EUR 3 Month + 2.55%), 2.20%, 07/22/2027 (aa)	EUR	1,000		1,038
(CMT Index 1 Year + 2.30%), 2.57%, 09/22/2026 (e) (aa)		3,000		2,858
Reg. S, (ICE LIBOR EUR 3 Month + 1.60%), 4.45%, 02/16/2029 (aa)	EUR	9,350		10,285
Reg. S, (ICE LIBOR EUR 3 Month + 1.90%), 4.80%, 01/17/2029 (aa)	EUR	5,000		5,621
Reg. S, (ICE LIBOR EUR 3 Month + 2.85%), 5.85%, 11/15/2027 (aa)	EUR	6,500		7,370
United Overseas Bank Ltd., (Singapore), Reg. S, 0.01%, 12/01/2027	EUR	100		96
US Bancorp,
(CMT Index 5 Year + 2.54%), 3.70%, 01/15/2027 (x) (aa)		2,300		1,991
(United States SOFR + 1.66%), 4.55%, 07/22/2028 (aa)		20		20
(United States SOFR + 1.23%), 4.65%, 02/01/2029 (aa)		45		44
(United States SOFR + 1.56%), 5.38%, 01/23/2030 (aa)		40		40
(United States SOFR + 1.86%), 5.68%, 01/23/2035 (aa)		145		147
(United States SOFR + 1.43%), 5.73%, 10/21/2026 (aa)		280		281
(United States SOFR + 2.26%), 5.84%, 06/12/2034 (aa)		725		740
Valiant Bank AG, (Switzerland), Reg. S, 0.00%, 07/31/2029	CHF	50		51
Virgin Money UK plc, (United Kingdom),
Reg. S, (SONIA Interest Rate Benchmark + 2.57%), 3.13%, 06/22/2025 (aa)	GBP	1,000		1,254
Reg. S, (UK Gilts 1 Year + 2.80%), 4.00%, 09/25/2026 (aa)	GBP	200		246
Reg. S, (UK Gilts 5 Year + 5.25%), 5.13%, 12/11/2030 (aa)	GBP	1,000		1,241
Vseobecna Uverova Banka A/S, (Slovakia),
Reg. S, 0.01%, 06/23/2025	EUR	1,700		1,749
Reg. S, 0.01%, 03/24/2026	EUR	100		100

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Wells Fargo & Co.,
Reg. S, 1.00%, 02/02/2027	EUR	1,000		1,004
Reg. S, 1.38%, 10/26/2026	EUR	1,900		1,940
Reg. S, 2.00%, 04/27/2026	EUR	1,000		1,043
Reg. S, 2.13%, 09/24/2031	GBP	1,000		1,040
Reg. S, 2.50%, 05/02/2029	GBP	1,500		1,685
(CME Term SOFR 3 Month + 1.43%), 2.88%, 10/30/2030 (aa)		156		138
(United States SOFR + 2.53%), 3.07%, 04/30/2041 (aa)		2,440		1,827
(CME Term SOFR 3 Month + 1.43%), 3.20%, 06/17/2027 (aa)		1,590		1,519
Reg. S, (SONIA Interest Rate Benchmark + 1.28%), 3.47%, 04/26/2028 (aa)	GBP	1,000		1,200
Reg. S, 3.50%, 09/12/2029	GBP	1,500		1,770
(United States SOFR + 1.51%), 3.53%, 03/24/2028 (aa)		377		359
(CME Term SOFR 3 Month + 1.57%), 3.58%, 05/22/2028 (aa)		3		3
3.90%, 05/01/2045		20		16
(United States SOFR + 1.32%), 3.91%, 04/25/2026 (aa)		1,272		1,249
(United States SOFR + 1.56%), 4.54%, 08/15/2026 (aa)		58		57
(United States SOFR + 2.13%), 4.61%, 04/25/2053 (aa)		820		722
4.63%, 11/02/2035	GBP	1,500		1,840
4.75%, 12/07/2046		95		84
(United States SOFR + 1.98%), 4.81%, 07/25/2028 (aa)		1,366		1,347
Reg. S, 4.88%, 11/29/2035	GBP	1,000		1,191
(United States SOFR + 1.50%), 5.20%, 01/23/2030 (aa)		2,970		2,965
(United States SOFR + 2.02%), 5.39%, 04/24/2034 (aa)		940		934
(United States SOFR + 1.78%), 5.50%, 01/23/2035 (aa)		1,460		1,465
(United States SOFR + 1.99%), 5.56%, 07/25/2034 (aa)		2,745		2,758
(United States SOFR + 1.74%), 5.57%, 07/25/2029 (aa)		1,590		1,609
5.61%, 01/15/2044		24		24
(United States SOFR + 2.06%), 6.49%, 10/23/2034 (aa)		2,040		2,189
Wells Fargo Bank NA, 5.25%, 12/11/2026		2,050		2,057
Westpac Banking Corp., (Australia),
Reg. S, 0.01%, 09/22/2028	EUR	100		93
Reg. S, 0.88%, 04/17/2027	EUR	1,000		1,002
Reg. S, 1.08%, 04/05/2027	EUR	100		101
2.96%, 11/16/2040		290		205
Westpac Securities NZ Ltd., (New Zealand),
Reg. S, 0.43%, 12/14/2026	EUR	2,500		2,485
Reg. S, 3.75%, 04/20/2028	EUR	100		110
Wirtschafts - und Infrastrukturbank Hessen, (Germany), 0.88%, 06/14/2028	EUR	100		100
Zuercher Kantonalbank, (Switzerland), Series 150, Reg. S, 0.10%, 03/31/2031	CHF	240		244
				1,380,774
Diversified Financial Services — 0.8%
Aareal Bank AG, (Germany),
Reg. S, 2.88%, 05/10/2028	EUR	100		106
Reg. S, 3.13%, 02/13/2026	EUR	100		107
Reg. S, 4.50%, 07/25/2025	EUR	2,300		2,461
Series 236, Reg. S, 0.01%, 02/01/2028	EUR	100		95

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland),
2.45%, 10/29/2026		350		325
4.63%, 10/15/2027		190		185
5.10%, 01/19/2029		495		492
Affordable Housing Finance plc, (United Kingdom),
Reg. S, 2.89%, 08/11/2043	GBP	100		98
Reg. S, 3.80%, 05/20/2042	GBP	100		113
Ally Financial, Inc., (United States SOFR + 2.82%), 6.85%, 01/03/2030 (aa)		600		618
American Express Co.,
2.25%, 03/04/2025		16		16
3.95%, 08/01/2025		370		364
(United States SOFR + 1.76%), 4.42%, 08/03/2033 (aa)		30		29
4.90%, 02/13/2026		120		119
(United States SOFR + 1.00%), 4.99%, 05/01/2026 (aa)		205		204
(United States SOFR + 1.84%), 5.04%, 05/01/2034 (aa)		550		544
(United States SOFR + 1.00%), 5.10%, 02/16/2028 (aa)		560		559
(SOFR Compounded Index + 1.28%), 5.28%, 07/27/2029 (aa)		3,500		3,521
(United States SOFR + 1.93%), 5.63%, 07/28/2034 (aa)		145		146
Ameriprise Financial, Inc., 5.15%, 05/15/2033		504		510
Apollo Global Management, Inc., 6.38%, 11/15/2033		158		170
Ares Management Corp., 6.38%, 11/10/2028		395		414
Arkea Home Loans SFH SA, (France), Reg. S, 3.25%, 08/01/2033	EUR	100		110
Artesian Finance II plc, (United Kingdom), 6.00%, 09/30/2033	GBP	30		40
Aspire Defence Finance plc, (United Kingdom), Series B, 4.67%, 03/31/2040	GBP	40		49
AXA Bank Europe SCF, (France), Reg. S, 0.50%, 04/18/2025	EUR	100		105
AXA Home Loan SFH SA, (France), Reg. S, 0.01%, 10/16/2029	EUR	100		92
AyT Cedulas Cajas X Fondo de Titulizacion de Activos, (Spain), Series X, 3.75%, 06/30/2025	EUR	100		108
Bayerische Landesbodenkreditanstalt, (Germany), Reg. S, 2.88%, 02/28/2031	EUR	100		109
BlackRock Funding, Inc., 5.25%, 03/14/2054		225		226
BNP Paribas Home Loan SFH SA, (France),
Reg. S, 3.00%, 05/25/2028	EUR	100		108
Reg. S, 3.00%, 01/31/2030	EUR	100		108
BPCE SFH SA, (France),
Reg. S, 0.01%, 11/08/2026	EUR	100		100
Reg. S, 0.01%, 01/21/2027	EUR	100		99
Reg. S, 0.01%, 01/29/2036	EUR	100		76
Reg. S, 0.13%, 12/03/2030	EUR	100		90
Reg. S, 0.63%, 09/22/2027	EUR	100		99
Reg. S, 1.13%, 04/12/2030	EUR	100		97
Reg. S, 1.75%, 05/27/2032	EUR	100		98
Reg. S, 2.88%, 01/15/2027	EUR	100		107
Reg. S, 3.38%, 03/13/2029	EUR	100		110
Caisse de Refinancement de l'Habitat SA, (France),
Reg. S, 0.01%, 02/07/2028	EUR	100		96
Reg. S, 0.01%, 10/08/2029	EUR	100		92
Reg. S, 3.38%, 06/28/2032	EUR	100		111
Cantor Fitzgerald LP, 4.50%, 04/14/2027 (e)		2,055		1,958

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Capital One Financial Corp.,
0.80%, 06/12/2024	EUR	825		884
1.65%, 06/12/2029	EUR	3,000		2,873
(United States SOFR + 2.06%), 4.93%, 05/10/2028 (aa)		349		344
(United States SOFR + 1.91%), 5.70%, 02/01/2030 (aa)		170		171
(United States SOFR + 2.26%), 6.05%, 02/01/2035 (aa)		1,045		1,064
(United States SOFR + 2.64%), 6.31%, 06/08/2029 (aa)		435		447
(United States SOFR + 3.07%), 7.62%, 10/30/2031 (aa)		730		807
Cboe Global Markets, Inc., 1.63%, 12/15/2030		219		179
Cedulas TDA 6 Fondo de Titulizacion de Activos, (Spain), Series A6, 3.88%, 05/23/2025	EUR	100		108
Charles Schwab Corp. (The),
1.15%, 05/13/2026		390		360
(United States SOFR + 2.50%), 5.85%, 05/19/2034 (aa)		740		758
(United States SOFR + 1.88%), 6.20%, 11/17/2029 (aa)		365		379
CI Financial Corp., (Canada),
3.20%, 12/17/2030		350		287
4.10%, 06/15/2051		615		383
Credit Agricole Home Loan SFH SA, (France),
Reg. S, 0.01%, 04/12/2028	EUR	4,200		4,022
Reg. S, 0.01%, 11/03/2031	EUR	100		86
Reg. S, 0.05%, 12/06/2029	EUR	100		92
Reg. S, 0.88%, 08/11/2028	EUR	100		99
Reg. S, 0.88%, 05/06/2034	EUR	100		88
Reg. S, 2.13%, 01/07/2030	EUR	100		103
Reg. S, 3.38%, 09/04/2028	EUR	100		109
Credit Agricole Public Sector SCF SA, (France), Reg. S, 0.88%, 08/02/2027	EUR	100		101
Credit Mutuel Home Loan SFH SA, (France),
Reg. S, 0.01%, 07/20/2028	EUR	5,000		4,751
Reg. S, 0.75%, 09/15/2027	EUR	100		100
Reg. S, 0.88%, 03/04/2032	EUR	100		92
Reg. S, 1.00%, 01/30/2029	EUR	100		98
Reg. S, 2.38%, 02/08/2028	EUR	100		105
Reg. S, 3.25%, 04/20/2029	EUR	100		109
Discover Financial Services, (SOFR Compounded Index + 3.37%), 7.96%, 11/02/2034 (aa)		110		125
DLR Kredit A/S, (Denmark), Series CCB, Reg. S, 1.00%, 04/01/2028	DKK	100		13
HSBC SFH France SA, (France), Reg. S, 0.75%, 03/22/2027	EUR	100		101
IG Group Holdings plc, (United Kingdom), Reg. S, 3.13%, 11/18/2028	GBP	4,000		4,386
Intercontinental Exchange, Inc.,
3.65%, 05/23/2025		20		20
5.20%, 06/15/2062		140		137
Jefferies Financial Group, Inc.,
2.63%, 10/15/2031		1,250		1,031
2.75%, 10/15/2032		1,420		1,154
5.88%, 07/21/2028		650		662

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Jyske Realkredit A/S, (Denmark),
Reg. S, 0.50%, 10/01/2026	EUR	100		101
Series 32IE, Reg. S, 1.00%, 04/01/2025	DKK	400		56
Series CCB, Reg. S, 1.00%, 04/01/2026	DKK	400		56
Series CCE, Reg. S, 1.00%, 10/01/2024	DKK	100		14
La Banque Postale Home Loan SFH SA, (France),
Reg. S, 3.00%, 01/31/2031	EUR	100		108
Reg. S, 3.13%, 01/29/2034	EUR	100		110
Lansforsakringar Hypotek AB, (Sweden),
Reg. S, 1.38%, 05/31/2027	EUR	100		102
Series 519, Reg. S, 1.50%, 09/16/2026	SEK	900		81
Series 520, Reg. S, 1.00%, 09/15/2027	SEK	1,000		87
Series 521, Reg. S, 0.50%, 09/20/2028	SEK	1,200		100
Lazard Group LLC, 6.00%, 03/15/2031		525		531
LeasePlan Corp. NV, (Netherlands), Reg. S, 2.13%, 05/06/2025	EUR	3,000		3,175
London Stock Exchange Group plc, (United Kingdom),
Reg. S, 1.63%, 04/06/2030	GBP	2,000		2,149
Reg. S, 1.75%, 12/06/2027	EUR	800		821
LPL Holdings, Inc., 6.75%, 11/17/2028		1,117		1,170
Lseg Netherlands BV, (Netherlands),
Reg. S, 0.00%, 04/06/2025	EUR	1,500		1,558
Reg. S, 0.75%, 04/06/2033	EUR	1,000		860
Mastercard, Inc.,
1.00%, 02/22/2029	EUR	6,200		6,093
2.10%, 12/01/2027	EUR	8,225		8,544
2.95%, 06/01/2029		220		203
3.35%, 03/26/2030		244		227
3.85%, 03/26/2050		160		132
Nasdaq, Inc.,
1.75%, 03/28/2029	EUR	2,300		2,291
5.35%, 06/28/2028		100		102
Nomura Holdings, Inc., (Japan),
1.85%, 07/16/2025		1,955		1,863
2.17%, 07/14/2028		1,500		1,321
2.61%, 07/14/2031		730		607
3.00%, 01/22/2032		320		270
5.10%, 07/03/2025		2,700		2,683
6.07%, 07/12/2028		1,625		1,672

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Nordea Kredit Realkreditaktieselskab, (Denmark),
Reg. S, 1.00%, 10/01/2024 (e)	DKK	300		43
Reg. S, 1.00%, 04/01/2026 (e)	DKK	250		35
1.00%, 10/01/2026	DKK	500		69
Reg. S, 1.00%, 10/01/2027 (e)	DKK	200		27
Series Cc2, Reg. S, 1.00%, 04/01/2029 (e)	DKK	300		40
Series CC2, Reg. S, 1.00%, 04/01/2025 (e)	DKK	200		28
Series CC2, Reg. S, 1.00%, 04/01/2027 (e)	DKK	500		68
Series CC2, Reg. S, 1.00%, 10/01/2028 (e)	DKK	300		40
OSB Group plc, (United Kingdom), Reg. S, (UK Gilts 1 Year + 4.99%), 9.50%, 09/07/2028 (aa)	GBP	3,400		4,536
Private Export Funding Corp.,
0.55%, 07/30/2024 (e)		300		295
Series PP, 1.40%, 07/15/2028		775		685
Programa Cedulas TDA Fondo de Titulizacion de Activos, (Spain), Series A6, 4.25%, 04/10/2031	EUR	100		116
Prs Finance plc, (United Kingdom),
Reg. S, 1.75%, 11/24/2026	GBP	178		209
Reg. S, 2.00%, 01/23/2029	GBP	500		568
Radian Group, Inc., 6.20%, 05/15/2029		400		406
Realkredit Danmark A/S, (Denmark),
Series 10F, Reg. S, 1.00%, 01/01/2026 (e)	DKK	1,000		139
Series 22S, Reg. S, 0.00%, 10/01/2040 (e)	DKK	40		5
Societe Generale SFH SA, (France),
Reg. S, 0.50%, 06/02/2025	EUR	100		104
Reg. S, 0.50%, 01/28/2026	EUR	100		103
Reg. S, 1.75%, 05/05/2034	EUR	200		193
Sparebanken Vest Boligkreditt A/S, (Norway), Reg. S, 2.50%, 09/22/2027	EUR	100		106
Swedbank Hypotek AB, (Sweden),
Reg. S, 0.50%, 02/05/2026	EUR	100		103
Reg. S, 3.00%, 03/28/2029	SEK	1,500		139
Series 195, Reg. S, 1.00%, 06/18/2025	SEK	800		73
Series 196, Reg. S, 1.00%, 03/18/2026	SEK	1,000		89
Series 197, Reg. S, 1.00%, 03/17/2027	SEK	700		61
THFC Funding No. 1 plc, (United Kingdom), Reg. S, 5.13%, 12/21/2035	GBP	1,370		1,746
TP ICAP Finance plc, (United Kingdom), Reg. S, 5.25%, 05/29/2026	GBP	2,000		2,472
Visa, Inc.,
2.00%, 06/15/2029	EUR	4,100		4,214
2.70%, 04/15/2040		130		98
3.65%, 09/15/2047		200		161
Wellcome Trust Finance plc, (United Kingdom), Reg. S, 4.63%, 07/25/2036	GBP	225		289
Western Union Co. (The), 1.35%, 03/15/2026		620		573
				96,932

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 1.6%
Aflac, Inc.,
3.60%, 04/01/2030		370		344
4.75%, 01/15/2049		180		165
AIA Group Ltd., (Hong Kong), Reg. S, (EUR Swap Rate 5 Year + 1.10%), 0.88%, 09/09/2033 (aa)	EUR	1,800		1,680
Alleghany Corp.,
3.25%, 08/15/2051		135		96
3.63%, 05/15/2030		15		14
Allianz Finance II BV, (Netherlands),
Reg. S, 0.50%, 11/22/2033	EUR	200		170
Series 62, Reg. S, 4.50%, 03/13/2043	GBP	1,500		1,831
Allianz SE, (Germany),
Reg. S, (ICE LIBOR EUR 3 Month + 2.65%), 2.24%, 07/07/2045 (aa)	EUR	5,000		5,263
Reg. S, (ICE EURIBOR Swap Rate 10 Year + 3.20%), 3.38%, 09/18/2024 (x) (aa)	EUR	2,300		2,462
Reg. S, (ICE LIBOR EUR 3 Month + 3.55%), 4.25%, 07/05/2052 (aa)	EUR	6,000		6,489
Reg. S, (ICE LIBOR EUR 3 Month + 3.65%), 5.82%, 07/25/2053 (aa)	EUR	1,900		2,276
American International Group, Inc.,
1.88%, 06/21/2027	EUR	1,000		1,022
5.13%, 03/27/2033		405		403
Aon North America, Inc., 5.13%, 03/01/2027		260		261
Arch Capital Group Ltd., (Bermuda), 7.35%, 05/01/2034		160		181
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		511
Arthur J Gallagher & Co.,
3.05%, 03/09/2052		70		45
3.50%, 05/20/2051		150		107
5.75%, 03/02/2053		120		121
6.75%, 02/15/2054		1,050		1,192
ASR Nederland NV, (Netherlands),
Reg. S, (EUR Swap Rate 5 Year + 4.00%), 3.38%, 05/02/2049 (aa)	EUR	1,000		1,015
Reg. S, (EUR Swap Rate 5 Year + 5.20%), 5.13%, 09/29/2045 (aa)	EUR	1,000		1,090
Assicurazioni Generali SpA, (Italy),
Reg. S, 1.71%, 06/30/2032	EUR	1,000		898
Reg. S, 2.43%, 07/14/2031	EUR	1,000		958
Reg. S, 4.13%, 05/04/2026	EUR	100		109
Reg. S, (ICE LIBOR EUR 3 Month + 4.50%), 4.60%, 11/21/2025 (x) (aa)	EUR	770		832
Assurant, Inc.,
2.65%, 01/15/2032		216		177
3.70%, 02/22/2030		290		262
4.90%, 03/27/2028		87		86
Assured Guaranty US Holdings, Inc., 6.13%, 09/15/2028		419		435

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Athene Global Funding,
Reg. S, 1.24%, 04/08/2024	EUR	1,300		1,402
2.50%, 01/14/2025 (e)		20		19
Athene Holding Ltd.,
3.95%, 05/25/2051		55		41
6.25%, 04/01/2054		25		25
Aviva plc, (United Kingdom),
Reg. S, 1.88%, 11/13/2027	EUR	500		521
Reg. S, (ICE LIBOR EUR 3 Month + 3.55%), 3.38%, 12/04/2045 (aa)	EUR	1,000		1,058
Reg. S, (UK Gilts 5 Year + 4.70%), 4.00%, 06/03/2055 (aa)	GBP	825		868
Reg. S, (UK Gilts 5 Year + 2.85%), 6.13%, 11/14/2036 (aa)	GBP	430		551
AXA SA, (France),
Reg. S, (ICE LIBOR EUR 3 Month + 2.40%), 1.38%, 10/07/2041 (aa)	EUR	1,225		1,102
Reg. S, (ICE LIBOR EUR 3 Month + 3.75%), 3.38%, 07/06/2047 (aa)	EUR	1,900		2,008
Reg. S, (EUR Swap Rate 11 Year + 3.25%), 3.88%, 10/08/2025 (x) (aa)	EUR	5,000		5,344
Reg. S, (ICE LIBOR EUR 3 Month + 3.60%), 4.25%, 03/10/2043 (aa)	EUR	1,200		1,294
Berkshire Hathaway Finance Corp.,
1.50%, 03/18/2030	EUR	2,200		2,162
2.38%, 06/19/2039	GBP	825		759
2.85%, 10/15/2050		15		10
3.85%, 03/15/2052		395		320
4.20%, 08/15/2048		25		22
Berkshire Hathaway, Inc.,
0.00%, 03/12/2025	EUR	1,900		1,982
2.15%, 03/15/2028	EUR	1,000		1,039
BNP Paribas Cardif SA, (France), Reg. S, (ICE LIBOR EUR 3 Month + 3.93%), 4.03%, 11/25/2025 (x) (aa)	EUR	6,000		6,401
Brown & Brown, Inc.,
2.38%, 03/15/2031		89		74
4.20%, 03/17/2032		48		44
4.95%, 03/17/2052		320		283
BUPA Finance plc, (United Kingdom), Reg. S, 5.00%, 10/12/2030	EUR	1,700		1,940
Caisse Nationale de Reassurance Mutuelle Agricole Groupama, (France), Reg. S, 0.75%, 07/07/2028	EUR	4,900		4,666
Chubb INA Holdings, Inc.,
0.88%, 12/15/2029	EUR	1,000		945
1.55%, 03/15/2028	EUR	3,000		3,023
5.00%, 03/15/2034		505		507
Cloverie PLC for Zurich Insurance Co. Ltd., (Ireland),
Reg. S, 1.50%, 12/15/2028	EUR	1,000		999
Reg. S, 1.75%, 09/16/2024	EUR	500		534

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
CNA Financial Corp.,
2.05%, 08/15/2030		2,500		2,095
5.13%, 02/15/2034		210		204
CNP Assurances SACA, (France),
Reg. S, 0.38%, 03/08/2028	EUR	100		95
Reg. S, 1.25%, 01/27/2029	EUR	700		672
Reg. S, (ICE LIBOR EUR 3 Month + 3.65%), 2.50%, 06/30/2051 (aa)	EUR	1,000		953
Corebridge Financial, Inc.,
3.50%, 04/04/2025		40		39
3.90%, 04/05/2032		740		666
4.35%, 04/05/2042		155		131
Credit Agricole Assurances SA, (France),
Reg. S, 2.00%, 07/17/2030	EUR	600		572
Reg. S, (EUR Swap Rate 5 Year + 4.50%), 4.25%, 01/13/2025 (x) (aa)	EUR	800		857
Reg. S, (EUR Swap Rate 5 Year + 4.35%), 4.50%, 10/14/2025 (x) (aa)	EUR	100		108
Enstar Group Ltd., (Bermuda),
3.10%, 09/01/2031		901		749
4.95%, 06/01/2029		270		264
Everest Reinsurance Holdings, Inc., 3.50%, 10/15/2050		745		522
Fairfax Financial Holdings Ltd., (Canada),
Reg. S, 2.75%, 03/29/2028	EUR	3,000		3,092
3.38%, 03/03/2031		2,000		1,740
4.85%, 04/17/2028		375		370
5.63%, 08/16/2032		1,440		1,440
6.35%, 03/22/2054 (e)		490		501
Fidelity National Financial, Inc., 3.20%, 09/17/2051		160		102
Hannover Rueck SE, (Germany),
Reg. S, (ICE LIBOR EUR 3 Month + 2.38%), 1.13%, 10/09/2039 (aa)	EUR	1,000		924
Reg. S, (ICE LIBOR EUR 3 Month + 3.75%), 5.88%, 08/26/2043 (aa)	EUR	2,000		2,429
Jackson Financial, Inc., 4.00%, 11/23/2051		5		4
Legal & General Finance plc, (United Kingdom), Reg. S, 5.88%, 04/05/2033	GBP	425		576
Legal & General Group plc, (United Kingdom),
Reg. S, (UK Gilts 5 Year + 5.25%), 4.50%, 11/01/2050 (aa)	GBP	825		968
Reg. S, (UK Gilts 5 Year + 4.65%), 5.13%, 11/14/2048 (aa)	GBP	600		744
Liberty Mutual Group, Inc.,
3.95%, 10/15/2050 (e)		830		625
5.50%, 06/15/2052 (e)		495		476
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		963
Markel Group, Inc., 3.45%, 05/07/2052		1,000		695

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Marsh & McLennan Cos., Inc.,
1.98%, 03/21/2030	EUR	5,050		5,070
2.90%, 12/15/2051		780		501
4.20%, 03/01/2048		850		717
4.75%, 03/15/2039		179		170
4.90%, 03/15/2049		290		270
5.45%, 03/15/2053		219		220
MetLife, Inc., Reg. S, 5.38%, 12/09/2024	GBP	1,000		1,262
Metropolitan Life Global Funding I,
Reg. S, 0.50%, 05/25/2029	EUR	500		471
Reg. S, 0.55%, 06/16/2027	EUR	1,475		1,457
Reg. S, 0.63%, 12/08/2027	GBP	1,000		1,091
Reg. S, 1.63%, 10/12/2028	GBP	1,000		1,114
Reg. S, 1.63%, 09/21/2029	GBP	2,125		2,305
Reg. S, 1.75%, 05/25/2025	EUR	1,000		1,054
Reg. S, 3.50%, 09/30/2026	GBP	2,000		2,452
Reg. S, 4.13%, 09/02/2025	GBP	1,000		1,247
MGIC Investment Corp., 5.25%, 08/15/2028		236		229
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, (Germany),
Reg. S, (ICE LIBOR EUR 3 Month + 2.10%), 1.00%, 05/26/2042 (aa)	EUR	17,800		15,317
Reg. S, (ICE LIBOR EUR 3 Month + 2.55%), 1.25%, 05/26/2041 (aa)	EUR	5,000		4,514
Reg. S, (ICE LIBOR EUR 3 Month + 3.40%), 3.25%, 05/26/2049 (aa)	EUR	2,000		2,086
Mutuelle Assurance Des Commercants et Industriels de France et Des Cadres et Sal, (France), Reg. S, 0.63%, 06/21/2027	EUR	1,900		1,855
New York Life Global Funding, Reg. S, 3.63%, 01/09/2030	EUR	9,625		10,572
NN Group NV, (Netherlands), Reg. S, (ICE LIBOR EUR 3 Month + 4.00%), 4.50%, 01/15/2026 (x) (aa)	EUR	1,350		1,456
Old Republic International Corp., 3.85%, 06/11/2051		85		62
Pension Insurance Corp. plc, (United Kingdom), Reg. S, 5.63%, 09/20/2030	GBP	1,121		1,368
Phoenix Group Holdings plc, (United Kingdom), Reg. S, 6.63%, 12/18/2025	GBP	425		543
Primerica, Inc., 2.80%, 11/19/2031		315		263
Principal Financial Group, Inc., 5.50%, 03/15/2053		101		99
Progressive Corp. (The),
3.70%, 03/15/2052		150		117
3.95%, 03/26/2050		44		36
4.13%, 04/15/2047		20		17
Prudential Funding Asia plc, (United Kingdom), 5.88%, 05/11/2029	GBP	1,500		1,969
RenaissanceRe Holdings Ltd., (Bermuda), 5.75%, 06/05/2033		452		456
Sampo OYJ, (Finland), Reg. S, 2.25%, 09/27/2030	EUR	1,000		1,012
SCOR SE, (France), Reg. S, (EUR Swap Rate 10 Year + 3.25%), 3.00%, 06/08/2046 (aa)	EUR	5,600		5,885
Sogecap SA, (France), Reg. S, (EUR Swap Rate 5 Year + 4.15%), 4.13%, 02/18/2026 (x) (aa)	EUR	1,700		1,813
Talanx AG, (Germany), Reg. S, 4.00%, 10/25/2029	EUR	12,500		13,854
Travelers Cos., Inc. (The), 5.45%, 05/25/2053		140		145

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
UNIQA Insurance Group AG, (Austria),
Reg. S, 1.38%, 07/09/2030	EUR	500		476
Reg. S, (ICE LIBOR EUR 3 Month + 3.35%), 2.38%, 12/09/2041 (aa)	EUR	500		456
Reg. S, (ICE LIBOR EUR 3 Month + 5.82%), 6.00%, 07/27/2046 (aa)	EUR	500		554
Unum Group,
4.00%, 06/15/2029		2,314		2,183
4.13%, 06/15/2051		914		692
5.75%, 08/15/2042		25		25
W R Berkley Corp., 4.00%, 05/12/2050		700		541
Willis North America, Inc.,
4.65%, 06/15/2027		270		266
5.90%, 03/05/2054		620		628
Zurich Finance Ireland Designated Activity Co., (Ireland),
Reg. S, 1.63%, 06/17/2039	EUR	500		429
Reg. S, (UK Gilts 5 Year + 4.10%), 5.13%, 11/23/2052 (aa)	GBP	5,625		6,898
				190,240
Investment Companies — 0.5%
Apollo Debt Solutions BDC, 6.90%, 04/13/2029 (e)		295		298
Ares Capital Corp.,
2.15%, 07/15/2026		96		89
7.00%, 01/15/2027		490		504
Barings BDC, Inc., 3.30%, 11/23/2026		20		18
Blackstone Private Credit Fund, 3.25%, 03/15/2027		195		180
Blackstone Secured Lending Fund, 2.85%, 09/30/2028		23		20
Blue Owl Capital Corp., 2.88%, 06/11/2028		265		234
EXOR NV, (Netherlands),
Reg. S, 0.88%, 01/19/2031	EUR	3,000		2,731
Reg. S, 3.75%, 02/14/2033	EUR	13,325		14,419
FS KKR Capital Corp.,
2.63%, 01/15/2027		275		250
3.13%, 10/12/2028		560		489
7.88%, 01/15/2029		310		324
Golub Capital BDC, Inc.,
2.50%, 08/24/2026		5		5
6.00%, 07/15/2029		785		772
Investor AB, (Sweden),
Reg. S, 0.38%, 10/29/2035	EUR	425		331
Reg. S, 1.50%, 09/12/2030	EUR	700		679
Reg. S, 2.75%, 06/10/2032	EUR	17,900		18,649
Main Street Capital Corp.,
3.00%, 07/14/2026		165		154
6.95%, 03/01/2029		345		350

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
MDGH GMTN RSC Ltd., (United Arab Emirates),
Reg. S, 0.38%, 03/10/2027	EUR	1,000		976
Reg. S, 1.00%, 03/10/2034	EUR	600		500
New Mountain Finance Corp., 6.88%, 02/01/2029		130		129
Sixth Street Specialty Lending, Inc., 6.13%, 03/01/2029		135		134
Temasek Financial I Ltd., (Singapore),
Reg. S, 1.50%, 03/01/2028	EUR	4,700		4,720
Reg. S, 3.25%, 02/15/2027	EUR	1,500		1,618
Wendel SE, (France), Reg. S, 1.00%, 06/01/2031	EUR	4,400		3,994
				52,567
Private Equity — 0.2%
3i Group plc, (United Kingdom),
Reg. S, 4.88%, 06/14/2029	EUR	16,925		19,059
Reg. S, 5.75%, 12/03/2032	GBP	350		463
Brookfield Finance, Inc., (Canada), 5.97%, 03/04/2054		1,185		1,228
Intermediate Capital Group plc, (United Kingdom), Reg. S, 1.63%, 02/17/2027	EUR	1,000		1,005
				21,755
Real Estate — 0.9%
Affinity Sutton Capital Markets plc, (United Kingdom), Reg. S, 5.98%, 09/17/2038	GBP	1,000		1,349
Akelius Residential Property Financing BV, (Netherlands), Reg. S, 1.00%, 01/17/2028	EUR	1,000		949
Aroundtown SA, (Luxembourg),
Reg. S, 0.00%, 07/16/2026	EUR	3,800		3,618
Reg. S, 1.45%, 07/09/2028	EUR	4,000		3,538
Reg. S, (EUR Swap Rate 5 Year + 2.42%), 1.63%, 04/15/2026 (x) (aa)	EUR	3,000		1,549
Balder Finland OYJ, (Finland),
Reg. S, 1.00%, 01/18/2027	EUR	2,000		1,923
Reg. S, 1.00%, 01/20/2029	EUR	1,600		1,403
Reg. S, 2.00%, 01/18/2031	EUR	9,400		8,172
Blackstone Property Partners Europe Holdings Sarl, (Luxembourg),
Reg. S, 1.63%, 04/20/2030	EUR	1,000		898
Reg. S, 1.75%, 03/12/2029	EUR	2,500		2,340
Reg. S, 2.63%, 10/20/2028	GBP	1,075		1,177
Broadgate Financing plc, (United Kingdom), Series A4, Reg. S, 4.82%, 07/05/2033	GBP	50		62
CBRE Services, Inc.,
2.50%, 04/01/2031		15		12
4.88%, 03/01/2026		20		20
5.95%, 08/15/2034		450		462
Citycon Treasury BV, (Netherlands), Reg. S, 6.50%, 03/08/2029	EUR	4,150		4,537
Clarion Funding plc, (United Kingdom),
Reg. S, 1.25%, 11/13/2032	GBP	1,000		941
Reg. S, 1.88%, 09/07/2051	GBP	500		325
Reg. S, 2.63%, 01/18/2029	GBP	200		228
CPI Property Group SA, (Luxembourg), Reg. S, 2.75%, 01/22/2028	GBP	1,800		1,813

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
CTP NV, (Netherlands),
Reg. S, 0.50%, 06/21/2025	EUR	2,865		2,946
Reg. S, 0.63%, 09/27/2026	EUR	3,500		3,475
Reg. S, 0.88%, 01/20/2026	EUR	1,000		1,016
Reg. S, 1.25%, 06/21/2029	EUR	4,600		4,273
Reg. S, 1.50%, 09/27/2031	EUR	9,850		8,669
Reg. S, 4.75%, 02/05/2030	EUR	3,950		4,315
Deutsche Wohnen SE, (Germany),
Reg. S, 0.50%, 04/07/2031	EUR	500		427
Reg. S, 1.00%, 04/30/2025	EUR	2,000		2,084
Reg. S, 1.30%, 04/07/2041	EUR	500		349
Reg. S, 1.50%, 04/30/2030	EUR	2,000		1,877
Fastighets AB Balder, (Sweden),
Reg. S, 1.13%, 01/29/2027	EUR	4,000		3,864
Reg. S, 1.88%, 03/14/2025	EUR	400		421
Reg. S, 1.88%, 01/23/2026	EUR	2,000		2,047
Heimstaden Bostad AB, (Sweden), Reg. S, 1.13%, 01/21/2026	EUR	1,200		1,165
Hexagon Housing Association Ltd., (United Kingdom), Reg. S, 3.63%, 04/22/2048	GBP	1,000		920
HOWOGE Wohnungsbaugesellschaft mbH, (Germany), Reg. S, 1.13%, 11/01/2033	EUR	100		85
Logicor 2019-1 UK plc, (United Kingdom), Reg. S, 1.88%, 11/17/2026	GBP	825		956
Logicor Financing Sarl, (Luxembourg),
Reg. S, 0.75%, 07/15/2024	EUR	1,500		1,601
Reg. S, 0.88%, 01/14/2031	EUR	400		343
Reg. S, 1.50%, 07/13/2026	EUR	1,000		1,014
Reg. S, 2.25%, 05/13/2025	EUR	2,000		2,107
London & Quadrant Housing Trust, (United Kingdom),
Reg. S, 2.00%, 03/31/2032	GBP	1,000		1,011
Reg. S, 2.00%, 10/20/2038	GBP	425		362
Reg. S, 2.63%, 02/28/2028	GBP	1,225		1,412
Reg. S, 2.75%, 07/20/2057	GBP	425		325
Reg. S, 3.13%, 02/28/2053	GBP	500		431
Meadowhall Finance plc, (United Kingdom), Series A1, Reg. S, 4.99%, 01/12/2032	GBP	25		29
NE Property BV, (Netherlands),
Reg. S, 1.75%, 11/23/2024	EUR	500		529
Reg. S, 1.88%, 10/09/2026	EUR	1,000		1,004
Reg. S, 2.00%, 01/20/2030	EUR	500		461
Reg. S, 3.38%, 07/14/2027	EUR	500		520
Notting Hill Genesis, (United Kingdom),
Reg. S, 2.00%, 06/03/2036	GBP	2,800		2,529
Reg. S, 3.25%, 10/12/2048	GBP	1,000		919
Reg. S, 4.38%, 02/20/2054	GBP	500		549
Reg. S, 5.25%, 07/07/2042	GBP	1,000		1,242

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Ontario Teachers' Cadillac Fairview Properties Trust, (Canada),
2.50%, 10/15/2031 (e)		580		469
4.13%, 02/01/2029 (e)		2,100		1,970
Optivo Finance plc, (United Kingdom),
Reg. S, 3.28%, 03/22/2048	GBP	2,000		1,791
Reg. S, 5.25%, 03/13/2043	GBP	1,000		1,231
Orbit Capital plc, (United Kingdom), Reg. S, 3.38%, 06/14/2048	GBP	1,325		1,236
P3 Group Sarl, (Luxembourg), Reg. S, 0.88%, 01/26/2026	EUR	490		498
Sagax AB, (Sweden), Reg. S, 2.25%, 03/13/2025	EUR	1,000		1,057
Sagax Euro Mtn NL BV, (Netherlands), Reg. S, 1.63%, 02/24/2026	EUR	1,000		1,034
Sinochem Offshore Capital Co. Ltd., (British Virgin Islands), Reg. S, 0.75%, 11/25/2025	EUR	1,000		1,014
Telereal Securitisation plc, (United Kingdom), Series B4, 6.16%, 12/10/2031	GBP	40		51
Tesco Property Finance 1 plc, (United Kingdom), Reg. S, 7.62%, 07/13/2039	GBP	77		112
Trafford Centre Finance Ltd. (The), (Cayman Islands), Series A2, Reg. S, 6.50%, 07/28/2033	GBP	31		39
VGP NV, (Belgium),
Reg. S, 1.63%, 01/17/2027	EUR	1,300		1,294
Reg. S, 2.25%, 01/17/2030	EUR	1,400		1,279
Vonovia SE, (Germany),
Reg. S, 0.63%, 07/09/2026	EUR	300		302
Reg. S, 0.75%, 09/01/2032	EUR	1,700		1,390
Reg. S, 1.00%, 01/28/2041	EUR	1,100		707
Series DIP, Reg. S, 1.50%, 03/31/2025	EUR	2,000		2,105
				108,172
REITS — 0.7%
Aedifica SA, (Belgium), Reg. S, 0.75%, 09/09/2031	EUR	1,200		1,010
Alexandria Real Estate Equities, Inc., 5.25%, 05/15/2036		345		339
Altarea SCA, (France), Reg. S, 1.75%, 01/16/2030	EUR	400		346
American Tower Corp.,
0.88%, 05/21/2029	EUR	5,973		5,613
1.38%, 04/04/2025	EUR	2,050		2,157
1.95%, 05/22/2026	EUR	1,000		1,038
3.80%, 08/15/2029		425		397
5.20%, 02/15/2029		545		545
5.80%, 11/15/2028		300		307
Brixmor Operating Partnership LP,
4.05%, 07/01/2030		1,175		1,091
4.13%, 06/15/2026		2,300		2,240
4.13%, 05/15/2029		875		825
Carmila SA, (France),
Reg. S, 1.63%, 05/30/2027	EUR	1,000		1,004
Reg. S, 2.38%, 09/16/2024	EUR	1,000		1,070

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Crown Castle, Inc.,
5.60%, 06/01/2029		530		538
5.80%, 03/01/2034		350		358
Digital Realty Trust LP,
3.70%, 08/15/2027		393		376
5.55%, 01/15/2028		24		24
Equinix, Inc.,
0.25%, 03/15/2027	EUR	3,900		3,789
1.00%, 09/15/2025		450		421
1.00%, 03/15/2033	EUR	3,500		2,997
1.45%, 05/15/2026		200		184
2.63%, 11/18/2024		85		83
2.90%, 11/18/2026		200		188
3.90%, 04/15/2032		20		18
Essential Properties LP, 2.95%, 07/15/2031		140		114
Extra Space Storage LP,
3.50%, 07/01/2026		153		147
5.70%, 04/01/2028		19		19
GLP Capital LP / GLP Financing II, Inc.,
3.25%, 01/15/2032		780		657
5.38%, 04/15/2026		1,500		1,487
Goodman Australia Finance Pty Ltd., (Australia), Reg. S, 1.38%, 09/27/2025	EUR	2,758		2,860
Hammerson Ireland Finance DAC, (Ireland), Reg. S, 1.75%, 06/03/2027	EUR	7,183		7,137
Hammerson plc, (United Kingdom), Reg. S, 7.25%, 04/21/2028	GBP	1,400		1,835
Healthpeak OP LLC, 3.00%, 01/15/2030		1,400		1,241
Host Hotels & Resorts LP,
Series I, 3.50%, 09/15/2030		785		699
Series J, 2.90%, 12/15/2031		415		345
Invitation Homes Operating Partnership LP,
2.30%, 11/15/2028		2		2
5.45%, 08/15/2030		90		90
Kimco Realty OP LLC, 2.70%, 10/01/2030		1,900		1,642
Klepierre SA, (France),
Reg. S, 1.63%, 12/13/2032	EUR	1,000		915
Reg. S, 2.00%, 05/12/2029	EUR	1,000		1,002
Mercialys SA, (France),
Reg. S, 1.80%, 02/27/2026	EUR	1,000		1,032
Reg. S, 2.50%, 02/28/2029	EUR	300		303
Merlin Properties Socimi SA, (Spain), Reg. S, 2.38%, 07/13/2027	EUR	1,000		1,033
National Health Investors, Inc., 3.00%, 02/01/2031		300		246
Praemia Healthcare SACA, (France), Reg. S, 5.50%, 09/19/2028	EUR	3,600		4,067
Prologis Euro Finance LLC, 0.25%, 09/10/2027	EUR	2,725		2,629

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Prologis LP,
2.25%, 06/30/2029	GBP	1,600		1,785
4.88%, 06/15/2028		150		150
5.25%, 06/15/2053		86		85
Public Storage Operating Co.,
0.50%, 09/09/2030	EUR	1,500		1,337
0.88%, 02/15/2026		45		42
1.50%, 11/09/2026		119		109
1.85%, 05/01/2028		250		222
1.95%, 11/09/2028		828		731
2.25%, 11/09/2031		165		137
3.09%, 09/15/2027		100		95
3.39%, 05/01/2029		145		136
5.35%, 08/01/2053		27		27
Realty Income Corp.,
1.63%, 12/15/2030	GBP	200		204
1.75%, 07/13/2033	GBP	1,100		1,049
3.10%, 12/15/2029		800		726
4.75%, 02/15/2029		290		287
4.90%, 07/15/2033		10		10
Scentre Group Trust 1 / Scentre Group Trust 2, (Australia), Reg. S, 1.45%, 03/28/2029	EUR	2,000		1,945
Scentre Group Trust 1, (Australia),
Reg. S, 2.25%, 07/16/2024	EUR	2,000		2,144
Reg. S, 3.88%, 07/16/2026	GBP	554		675
Simon International Finance SCA, (Luxembourg), Reg. S, 1.25%, 05/13/2025	EUR	2,325		2,433
Simon Property Group LP,
1.38%, 01/15/2027		70		64
2.45%, 09/13/2029		125		110
3.50%, 09/01/2025		50		49
4.25%, 10/01/2044		2		2
4.25%, 11/30/2046		65		53
5.85%, 03/08/2053		389		401
6.65%, 01/15/2054		90		103
Sun Communities Operating LP, 2.70%, 07/15/2031		325		268
Tanger Properties LP, 2.75%, 09/01/2031		350		287
Ventas Realty LP, 4.13%, 01/15/2026		2,300		2,247
VICI Properties LP,
4.75%, 02/15/2028		455		444
4.95%, 02/15/2030		1,645		1,588

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Welltower OP LLC,
2.75%, 01/15/2031		50		43
3.10%, 01/15/2030		3,012		2,710
4.00%, 06/01/2025		67		66
4.25%, 04/15/2028		44		43
4.50%, 12/01/2034	GBP	300		351
4.80%, 11/20/2028	GBP	1,650		2,057
Weyerhaeuser Co., 4.00%, 04/15/2030		1,500		1,418
WP Carey, Inc., 2.25%, 04/01/2033		1,000		769
WPC Eurobond BV, (Netherlands), 0.95%, 06/01/2030	EUR	1,800		1,612
				85,474
Savings & Loans — 0.1%
Coventry Building Society, (United Kingdom), Reg. S, 2.63%, 12/07/2026	EUR	5,000		5,289
Nationwide Building Society, (United Kingdom),
Reg. S, 0.25%, 07/22/2025	EUR	2,000		2,066
Reg. S, 0.63%, 03/25/2027	EUR	100		100
Reg. S, 3.38%, 11/27/2028	EUR	100		109
Reg. S, 5.63%, 01/28/2026	GBP	100		128
Yorkshire Building Society, (United Kingdom),
Reg. S, 0.01%, 10/13/2027	EUR	100		96
Reg. S, 0.01%, 11/16/2028	EUR	5,000		4,663
				12,451
Total Financial				1,948,365
Government — 2.7%
Multi-National — 2.7%
African Development Bank, (Supranational),
0.25%, 11/21/2024	EUR	925		976
0.50%, 03/22/2027	EUR	1,000		1,005
0.50%, 03/21/2029	EUR	3,500		3,381
0.88%, 05/24/2028	EUR	400		399
2.25%, 09/14/2029	EUR	2,000		2,102
Asian Development Bank, (Supranational),
Reg. S, 0.03%, 01/31/2030	EUR	3,550		3,278
0.35%, 07/16/2025	EUR	700		727
0.75%, 12/07/2027	GBP	5,000		5,587
1.40%, 02/06/2037	EUR	7,000		6,330
1.95%, 07/22/2032	EUR	10,000		10,134
2.00%, 01/22/2025		300		293
2.50%, 12/19/2024	GBP	2,000		2,477
4.13%, 09/27/2024		1,540		1,531
4.13%, 02/14/2029	GBP	5,000		6,329
6.22%, 08/15/2027		100		104

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Asian Infrastructure Investment Bank (The), (Supranational),
0.50%, 10/30/2024		495		482
4.88%, 09/14/2026		620		623
Corp. Andina de Fomento, (Supranational),
Reg. S, 0.25%, 02/04/2026	EUR	2,000		2,020
Reg. S, 1.13%, 02/13/2025	EUR	10,000		10,519
Council Of Europe Development Bank, (Supranational),
Reg. S, 0.00%, 04/09/2027	EUR	2,000		1,982
Reg. S, 0.00%, 01/20/2031	EUR	5,000		4,505
Reg. S, 0.25%, 01/19/2032	EUR	3,000		2,686
Reg. S, 0.38%, 03/27/2025	EUR	175		183
Reg. S, 0.63%, 01/30/2029	EUR	1,500		1,469
Reg. S, 0.75%, 06/09/2025	EUR	50		53
Dexia SA, (France),
Reg. S, 0.00%, 01/21/2028	EUR	700		677
Reg. S, 0.01%, 01/22/2027	EUR	500		496
Reg. S, 0.63%, 01/17/2026	EUR	600		618
Reg. S, 2.13%, 02/12/2025	GBP	400		492
Reg. S, 2.75%, 01/18/2029	EUR	200		214
Reg. S, 3.13%, 06/01/2028	EUR	200		218
Eurofima Europaeische Gesellschaft fuer die Finanzierung von Eisenbahnmaterial, (Supranational),
4.55%, 03/30/2027	CAD	500		372
5.50%, 06/07/2032	GBP	300		405
European Bank for Reconstruction & Development, (Supranational), 0.50%, 05/19/2025		135		128
European Investment Bank, (Supranational),
Reg. S, 0.00%, 03/25/2025	EUR	5,000		5,220
Reg. S, 0.00%, 03/13/2026	EUR	700		714
Reg. S, 0.00%, 06/17/2027	EUR	1,500		1,482
Reg. S, 0.00%, 09/28/2028	EUR	1,000		957
Zero Coupon, 05/28/2037 (e)	CAD	150		62
Reg. S, 0.01%, 11/15/2035	EUR	4,200		3,274
Reg. S, 0.01%, 05/15/2041	EUR	5,000		3,269
Reg. S, 0.05%, 11/15/2029	EUR	10,000		9,329
0.05%, 01/16/2030	EUR	17,900		16,638
Reg. S, 0.05%, 10/13/2034	EUR	19,000		15,421
Reg. S, 0.10%, 10/15/2026	EUR	5,000		5,037
Reg. S, 0.13%, 12/14/2026	GBP	1,875		2,119
Reg. S, 0.13%, 06/20/2029	EUR	6,000		5,675
Reg. S, 0.25%, 06/15/2040	EUR	3,950		2,783
0.38%, 03/26/2026		1,300		1,194
Reg. S, 0.38%, 04/14/2026	EUR	3,000		3,073
0.50%, 01/15/2027	EUR	2,000		2,026
Reg. S, 0.50%, 11/13/2037	EUR	2,000		1,582
Reg. S, 0.88%, 05/15/2026	GBP	2,000		2,344

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
0.88%, 09/13/2047	EUR	200		140
Reg. S, 1.00%, 09/21/2026	GBP	10,000		11,644
Reg. S, 1.00%, 03/14/2031	EUR	20,000		19,304
Reg. S, 1.00%, 04/14/2032	EUR	3,275		3,110
Reg. S, 1.38%, 03/07/2025	GBP	100		122
Reg. S, 1.75%, 09/15/2045	EUR	10,000		8,669
Reg. S, 2.75%, 09/15/2025	EUR	10,000		10,733
Reg. S, 2.75%, 07/30/2030	EUR	30,000		32,451
2.75%, 09/13/2030	EUR	230		249
Reg. S, 2.75%, 01/16/2034	EUR	10,000		10,756
Reg. S, 3.63%, 03/14/2042	EUR	2,025		2,360
Reg. S, 3.88%, 06/08/2037	GBP	3,000		3,645
4.00%, 10/15/2037	EUR	10,000		12,101
4.50%, 10/15/2025	EUR	10,000		11,006
4.50%, 10/16/2028		720		725
Reg. S, 4.50%, 03/07/2044	GBP	3,000		3,780
5.00%, 04/15/2039	GBP	3,500		4,727
Reg. S, 6.27%, 08/28/2024	IDR	10,000,000		629
Series 1981, 2.63%, 03/15/2035	EUR	40		42
Series DIP, Reg. S, 4.63%, 10/12/2054	GBP	3,055		3,948
FMS Wertmanagement, (Germany), Reg. S, 0.38%, 04/29/2030	EUR	1,600		1,503
Inter-American Development Bank, (Supranational),
0.50%, 09/23/2024		750		733
0.88%, 04/20/2026		400		370
1.25%, 12/15/2025	GBP	2,000		2,384
1.50%, 01/13/2027		1,000		922
2.13%, 01/15/2025		290		283
2.38%, 08/03/2029	GBP	1,000		1,161
6.75%, 07/15/2027		700		738
International Development Association, (Supranational),
Reg. S, 0.00%, 10/19/2026	EUR	1,000		1,001
Reg. S, 0.35%, 04/22/2036	EUR	3,500		2,808
Reg. S, 0.38%, 09/22/2027	GBP	2,000		2,215
Reg. S, 0.70%, 01/17/2042	EUR	1,000		726
Reg. S, 2.50%, 01/15/2038	EUR	4,000		4,055
International Finance Corp., (Supranational),
0.25%, 12/15/2025	GBP	1,000		1,172
Reg. S, 1.38%, 03/07/2025	GBP	1,000		1,221
3.63%, 09/15/2025		920		904
North American Development Bank, (Supranational), Reg. S, 0.20%, 11/28/2028	CHF	200		210
				317,541
Municipal — 0.0% (g)
Transport for London, (United Kingdom),
Reg. S, 3.88%, 07/23/2042	GBP	140		152
Reg. S, 4.00%, 09/12/2033	GBP	300		354
				506

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Regional (State/Province) — 0.0% (g)
KAF Kaerntner Ausgleichszahlungs-Fonds, (Austria), Reg. S, Zero Coupon, 01/14/2032	EUR	860		725
UK Municipal Bonds Agency Finance Co. Designated Activity Co., (Ireland), Reg. S, 1.63%, 08/26/2060	GBP	100		52
				777
Total Government				318,824
Industrial — 3.4%
Aerospace/Defense — 0.4%
Airbus SE, (Netherlands),
Reg. S, 1.63%, 06/09/2030	EUR	7,050		6,984
Reg. S, 2.00%, 04/07/2028	EUR	1,715		1,776
Reg. S, 2.38%, 04/07/2032	EUR	6,000		6,127
BAE Systems plc, (United Kingdom), 1.90%, 02/15/2031 (e)		1,350		1,099
Boeing Co. (The),
3.45%, 11/01/2028		100		92
4.88%, 05/01/2025		227		224
5.15%, 05/01/2030		460		446
5.71%, 05/01/2040		2,300		2,204
5.81%, 05/01/2050		50		47
General Dynamics Corp.,
2.25%, 06/01/2031		326		276
3.60%, 11/15/2042		18		15
4.25%, 04/01/2040		22		20
Hexcel Corp., 4.20%, 02/15/2027		520		494
L3Harris Technologies, Inc., 5.40%, 07/31/2033		1,600		1,610
Leonardo SpA, (Italy), Reg. S, 4.88%, 03/24/2025	EUR	1,600		1,742
Lockheed Martin Corp.,
3.80%, 03/01/2045		300		246
4.30%, 06/15/2062		324		275
4.70%, 05/15/2046		360		336
5.20%, 02/15/2055		30		30
5.20%, 02/15/2064		280		277
5.70%, 11/15/2054		120		128
5.90%, 11/15/2063		185		203
RTX Corp.,
2.15%, 05/18/2030	EUR	1,500		1,485
2.82%, 09/01/2051		200		128
3.95%, 08/16/2025		96		94
6.40%, 03/15/2054		299		339
7.20%, 08/15/2027		20		22
Safran SA, (France),
Reg. S, 0.13%, 03/16/2026	EUR	1,000		1,014
Reg. S, 0.75%, 03/17/2031	EUR	5,500		5,111
Thales SA, (France),
Reg. S, 0.00%, 03/26/2026	EUR	4,100		4,134
Reg. S, 0.75%, 01/23/2025	EUR	1,000		1,053
Reg. S, 1.00%, 05/15/2028	EUR	1,900		1,873
Reg. S, 4.13%, 10/18/2028	EUR	800		891
				40,795

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.6%
Carrier Global Corp.,
2.24%, 02/15/2025		20		19
2.49%, 02/15/2027		10		9
4.13%, 05/29/2028	EUR	1,600		1,765
4.38%, 05/29/2025	EUR	900		976
5.90%, 03/15/2034		131		138
6.20%, 03/15/2054		85		94
Cie de Saint-Gobain SA, (France),
Reg. S, 3.38%, 04/08/2030 (w)	EUR	4,900		5,271
Reg. S, 3.63%, 04/08/2034 (w)	EUR	4,700		5,080
CRH Finance DAC, (Ireland), Reg. S, 1.38%, 10/18/2028	EUR	1,164		1,152
Crh Finance UK plc, (United Kingdom), Reg. S, 4.13%, 12/02/2029	GBP	1,500		1,822
CRH Funding BV, (Netherlands), Reg. S, 1.63%, 05/05/2030	EUR	800		782
CRH SMW Finance DAC, (Ireland),
Reg. S, 1.25%, 11/05/2026	EUR	1,000		1,021
Reg. S, 4.00%, 07/11/2027	EUR	5,000		5,489
Reg. S, 4.25%, 07/11/2035	EUR	19,950		22,540
Eagle Materials, Inc., 2.50%, 07/01/2031		511		430
Fortune Brands Innovations, Inc., 4.50%, 03/25/2052		30		25
Heidelberg Materials AG, (Germany), Reg. S, 3.75%, 05/31/2032	EUR	3,825		4,161
Holcim Finance Luxembourg SA, (Luxembourg),
Reg. S, 0.50%, 11/29/2026	EUR	4,533		4,537
Reg. S, 0.50%, 09/03/2030	EUR	500		444
Reg. S, 0.50%, 04/23/2031	EUR	1,000		873
Reg. S, 0.63%, 04/06/2030	EUR	4,350		3,969
Reg. S, 0.63%, 01/19/2033	EUR	500		419
Reg. S, 1.50%, 04/06/2025	EUR	5,000		5,272
Holcim Sterling Finance Netherlands BV, (Netherlands), Reg. S, 3.00%, 05/12/2032	GBP	3,500		3,824
Johnson Controls International plc / Tyco Fire & Security Finance SCA, (Ireland),
1.00%, 09/15/2032	EUR	1,000		892
3.00%, 09/15/2028	EUR	1,000		1,062
Lennox International, Inc.,
1.35%, 08/01/2025		12		11
5.50%, 09/15/2028		265		269
Martin Marietta Materials, Inc.,
3.20%, 07/15/2051		96		67
4.25%, 07/02/2024		40		40
Owens Corning,
3.95%, 08/15/2029		567		536
4.40%, 01/30/2048		18		15
Trane Technologies Financing Ltd., (Ireland), 4.50%, 03/21/2049		25		22
Vulcan Materials Co., 3.50%, 06/01/2030		60		55
				73,081
Electrical Components & Equipments — 0.3%
Eaton Capital Unlimited Co., (Ireland),
Reg. S, 0.13%, 03/08/2026	EUR	10,000		10,119
Reg. S, 0.58%, 03/08/2030	EUR	4,500		4,160
Reg. S, 0.70%, 05/14/2025	EUR	2,525		2,635
Reg. S, 0.75%, 09/20/2024	EUR	1,000		1,063

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Electrical Components & Equipments — continued
Emerson Electric Co.,
1.25%, 10/15/2025	EUR	1,000		1,042
2.00%, 10/15/2029	EUR	1,500		1,514
2.80%, 12/21/2051		137		90
Legrand SA, (France),
Reg. S, 0.63%, 06/24/2028	EUR	1,000		978
Reg. S, 1.00%, 03/06/2026	EUR	1,000		1,035
Reg. S, 1.88%, 07/06/2032	EUR	1,000		990
Schneider Electric SE, (France),
Reg. S, 3.25%, 10/10/2035	EUR	8,700		9,379
Reg. S, 3.50%, 06/12/2033	EUR	4,800		5,350
Signify NV, (Netherlands),
Reg. S, 2.00%, 05/11/2024	EUR	550		592
Reg. S, 2.38%, 05/11/2027	EUR	175		182
				39,129
Electronics — 0.2%
Allegion US Holding Co., Inc., 3.20%, 10/01/2024		20		20
Amphenol Technologies Holding GmbH, (Germany), Reg. S, 0.75%, 05/04/2026	EUR	2,525		2,572
Arrow Electronics, Inc., 6.13%, 03/01/2026		180		180
Assa Abloy AB, (Sweden), Reg. S, 4.13%, 09/13/2035	EUR	2,875		3,301
Avnet, Inc., 5.50%, 06/01/2032		60		58
Flex Ltd., (Singapore),
3.75%, 02/01/2026		220		214
4.88%, 06/15/2029		471		462
4.88%, 05/12/2030		175		170
6.00%, 01/15/2028		21		21
Fortive Corp.,
3.70%, 02/13/2026	EUR	2,250		2,427
3.70%, 08/15/2029	EUR	2,600		2,825
Honeywell International, Inc.,
0.75%, 03/10/2032	EUR	2,500		2,220
2.25%, 02/22/2028	EUR	1,500		1,567
4.13%, 11/02/2034	EUR	3,700		4,209
4.50%, 01/15/2034		581		565
Hubbell, Inc., 2.30%, 03/15/2031		399		333
Jabil, Inc.,
1.70%, 04/15/2026		150		139
5.45%, 02/01/2029		350		352
Keysight Technologies, Inc.,
3.00%, 10/30/2029		245		219
4.55%, 10/30/2024		250		248
4.60%, 04/06/2027		55		54
TD SYNNEX Corp., 2.38%, 08/09/2028		5		4
Tyco Electronics Group SA, (Luxembourg),
0.00%, 02/14/2025	EUR	1,000		1,045
0.00%, 02/16/2029	EUR	1,000		930

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Vontier Corp.,
2.40%, 04/01/2028		143		127
2.95%, 04/01/2031		515		430
				24,692
Engineering & Construction — 0.8%
ABB Finance BV, (Netherlands),
Reg. S, 0.00%, 01/19/2030	EUR	2,000		1,804
Reg. S, 3.38%, 01/16/2031	EUR	10,000		10,935
Reg. S, 3.38%, 01/15/2034	EUR	13,000		14,086
Aeroports de Paris SA, (France),
Reg. S, 1.00%, 01/05/2029	EUR	500		486
Reg. S, 1.50%, 07/02/2032	EUR	200		188
Reg. S, 2.13%, 10/02/2026	EUR	200		209
Reg. S, 2.75%, 06/05/2028	EUR	100		106
Reg. S, 2.75%, 04/02/2030	EUR	2,500		2,617
Arcadis NV, (Netherlands), Reg. S, 4.88%, 02/28/2028	EUR	23,768		26,563
Cellnex Finance Co. SA, (Spain), Reg. S, 2.25%, 04/12/2026	EUR	2,000		2,096
CRCC Hean Ltd., (Hong Kong), Reg. S, 0.88%, 05/20/2026	EUR	300		301
DAA Finance plc, (Ireland), Reg. S, 1.60%, 11/05/2032	EUR	100		93
Ferrovial Emisiones SA, (Spain),
Reg. S, 0.54%, 11/12/2028	EUR	1,000		953
Reg. S, 1.38%, 03/31/2025	EUR	1,000		1,054
Reg. S, 1.38%, 05/14/2026	EUR	1,000		1,035
Heathrow Funding Ltd., (Jersey),
Reg. S, 4.63%, 10/31/2046	GBP	325		360
Reg. S, 6.45%, 12/10/2031	GBP	225		307
Reg. S, 6.75%, 12/03/2026	GBP	150		197
HOCHTIEF AG, (Germany),
Reg. S, 0.50%, 09/03/2027	EUR	3,500		3,427
Reg. S, 0.63%, 04/26/2029	EUR	17,548		16,343
Reg. S, 1.75%, 07/03/2025	EUR	2,107		2,217
Jacobs Engineering Group, Inc., 6.35%, 08/18/2028		950		982
Royal Schiphol Group NV, (Netherlands),
Reg. S, 0.38%, 09/08/2027	EUR	300		294
Reg. S, 0.75%, 04/22/2033	EUR	200		173
Sydney Airport Finance Co. Pty Ltd., (Australia),
Reg. S, 1.75%, 04/26/2028	EUR	1,000		1,010
Reg. S, 2.75%, 04/23/2024	EUR	500		539
Vinci SA, (France), Reg. S, 3.38%, 10/17/2032	EUR	2,000		2,168
Worley US Finance Sub Ltd., Reg. S, 0.88%, 06/09/2026	EUR	3,075		3,098
				93,641
Environmental Control — 0.0% (g)
Republic Services, Inc., 5.00%, 12/15/2033		690		686
Waste Connections, Inc., (Canada),
2.60%, 02/01/2030		200		177
3.20%, 06/01/2032		50		44
4.20%, 01/15/2033		140		131

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Waste Management, Inc.,
2.00%, 06/01/2029		14		12
4.63%, 02/15/2033		169		166
				1,216
Hand/Machine Tools — 0.0% (g)
Regal Rexnord Corp., 6.05%, 02/15/2026 (e)		620		624
Snap-on, Inc., 3.10%, 05/01/2050		110		78
				702
Machinery - Construction & Mining — 0.0% (g)
Oshkosh Corp., 3.10%, 03/01/2030		268		238
Sandvik AB, (Sweden),
Reg. S, 2.13%, 06/07/2027	EUR	1,000		1,038
Reg. S, 3.75%, 09/27/2029	EUR	1,000		1,096
Siemens Energy Finance BV, (Netherlands), Reg. S, 4.25%, 04/05/2029	EUR	2,000		2,174
				4,546
Machinery - Diversified — 0.1%
AGCO Corp., 5.45%, 03/21/2027		270		271
Atlas Copco AB, (Sweden), Reg. S, 0.63%, 08/30/2026	EUR	1,325		1,342
Atlas Copco Finance DAC, (Ireland),
Reg. S, 0.13%, 09/03/2029	EUR	500		463
Reg. S, 0.75%, 02/08/2032	EUR	2,500		2,258
Dover Corp.,
0.75%, 11/04/2027	EUR	1,000		981
1.25%, 11/09/2026	EUR	1,000		1,021
Flowserve Corp., 3.50%, 10/01/2030		92		82
Highland Holdings Sarl, (Luxembourg),
0.32%, 12/15/2026	EUR	1,500		1,487
0.93%, 12/15/2031	EUR	2,050		1,838
IDEX Corp.,
2.63%, 06/15/2031		1,445		1,223
3.00%, 05/01/2030		332		293
Ingersoll Rand, Inc.,
5.40%, 08/14/2028		340		345
5.70%, 08/14/2033		415		426
Nordson Corp.,
5.60%, 09/15/2028		505		515
5.80%, 09/15/2033		591		616
nVent Finance Sarl, (Luxembourg), 5.65%, 05/15/2033		685		691
Otis Worldwide Corp.,
2.06%, 04/05/2025		20		19
2.29%, 04/05/2027		200		186
3.36%, 02/15/2050		10		7
Westinghouse Air Brake Technologies Corp.,
3.20%, 06/15/2025		350		340
5.61%, 03/11/2034		350		354
				14,758

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.6%
Alfa Laval Treasury International AB, (Sweden), Reg. S, 0.88%, 02/18/2026	EUR	4,681		4,807
Carlisle Cos., Inc.,
2.20%, 03/01/2032		74		59
2.75%, 03/01/2030		50		44
Eaton Corp., 4.15%, 11/02/2042		145		128
GE Capital UK Funding Unlimited Co., (Ireland), Reg. S, 5.88%, 01/18/2033	GBP	2,950		3,916
General Electric Co.,
1.50%, 05/17/2029	EUR	9,950		9,823
1.88%, 05/28/2027	EUR	1,000		1,033
2.13%, 05/17/2037	EUR	3,488		3,306
Reg. S, 4.13%, 09/19/2035	EUR	6,000		6,804
Reg. S, 4.88%, 09/18/2037	GBP	4,000		4,667
Illinois Tool Works, Inc.,
0.63%, 12/05/2027	EUR	1,000		989
1.00%, 06/05/2031	EUR	500		466
Parker-Hannifin Corp., 1.13%, 03/01/2025	EUR	1,650		1,735
Pentair Finance Sarl, (Luxembourg), 4.50%, 07/01/2029		2,202		2,132
Smiths Group plc, (United Kingdom), Reg. S, 2.00%, 02/23/2027	EUR	20,602		21,307
Teledyne Technologies, Inc., 1.60%, 04/01/2026		170		158
Textron, Inc., 2.45%, 03/15/2031		1,000		843
Wabtec Transportation Netherlands BV, (Netherlands), 1.25%, 12/03/2027	EUR	1,500		1,493
				63,710
Packaging & Containers — 0.1%
Amcor UK Finance plc, (United Kingdom), 1.13%, 06/23/2027	EUR	1,500		1,501
Berry Global, Inc.,
5.50%, 04/15/2028		615		620
5.65%, 01/15/2034 (e)		810		806
DS Smith plc, (United Kingdom), Reg. S, 0.88%, 09/12/2026	EUR	3,300		3,335
Packaging Corp. of America, 5.70%, 12/01/2033		1,456		1,505
Sealed Air Corp., 5.50%, 09/15/2025 (e)		1,460		1,454
				9,221
Transportation — 0.3%
Aurizon Network Pty Ltd., (Australia),
Reg. S, 2.00%, 09/18/2024	EUR	1,000		1,069
Reg. S, 3.13%, 06/01/2026	EUR	1,000		1,064
Brambles Finance plc, (United Kingdom), Reg. S, 1.50%, 10/04/2027	EUR	1,000		1,015
Burlington Northern Santa Fe LLC,
2.88%, 06/15/2052		380		249
3.00%, 04/01/2025		160		157
3.30%, 09/15/2051		20		14
4.15%, 04/01/2045		50		43
4.45%, 01/15/2053		75		67
4.55%, 09/01/2044		170		155
4.95%, 09/15/2041		700		673
5.20%, 04/15/2054		900		893
5.40%, 06/01/2041		70		71
Canadian National Railway Co., (Canada),
4.40%, 08/05/2052		160		143
6.13%, 11/01/2053		600		689

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Canadian Pacific Railway Co., (Canada),
3.10%, 12/02/2051		210		144
4.20%, 11/15/2069		10		8
Deutsche Bahn Finance GMBH, (Germany),
Reg. S, 0.10%, 01/28/2036	CHF	150		144
Reg. S, 0.35%, 09/29/2031	EUR	100		90
Reg. S, 0.50%, 04/09/2027	EUR	140		140
Reg. S, 1.00%, 12/17/2027	EUR	300		301
Reg. S, 1.13%, 12/18/2028	EUR	300		298
Reg. S, 1.13%, 05/29/2051	EUR	112		74
Reg. S, 1.38%, 03/28/2031	EUR	2,000		1,932
Reg. S, 1.38%, 04/16/2040	EUR	50		41
Reg. S, 1.50%, 08/26/2024	CHF	500		554
Reg. S, 1.63%, 08/16/2033	EUR	189		180
Reg. S, 1.88%, 02/13/2026	GBP	6,000		7,201
Reg. S, 1.88%, 05/24/2030	EUR	300		304
1.99%, 07/08/2030	AUD	200		108
Reg. S, 3.25%, 05/19/2033	EUR	300		333
Reg. S, 3.50%, 09/27/2024	AUD	300		194
Reg. S, 3.63%, 12/18/2037	EUR	193		215
Reg. S, 3.75%, 10/29/2025	AUD	1,000		641
Reg. S, 4.00%, 11/23/2043	EUR	300		347
Series CB, Reg. S, (EUR Swap Rate 5 Year + 1.89%), 1.60%, 07/18/2029 (x) (aa)	EUR	1,700		1,577
East Japan Railway Co., (Japan), Reg. S, 4.50%, 01/25/2036	GBP	2,000		2,417
Ferrovie dello Stato Italiane SpA, (Italy),
Reg. S, 1.50%, 06/27/2025	EUR	510		536
Reg. S, 4.50%, 05/23/2033	EUR	200		227
La Poste SA, (France),
Reg. S, 0.00%, 07/18/2029	EUR	200		181
Reg. S, 0.38%, 09/17/2027	EUR	100		98
Reg. S, 0.63%, 10/21/2026	EUR	1,300		1,310
Reg. S, 1.00%, 09/17/2034	EUR	200		172
Reg. S, 1.38%, 04/21/2032	EUR	1,000		932
Reg. S, 2.63%, 09/14/2028	EUR	100		105
Reg. S, 4.00%, 06/12/2035	EUR	200		228
Network Rail Infrastructure Finance plc, (United Kingdom), Reg. S, 4.38%, 12/09/2030	GBP	190		243
Norfolk Southern Corp., 5.95%, 03/15/2064		815		871
OeBB-Infrastruktur AG, (Austria),
2.25%, 05/28/2029	EUR	325		341
3.00%, 10/24/2033	EUR	200		219
Reg. S, 3.38%, 05/18/2032	EUR	4		4
Reg. S, 3.88%, 06/30/2025	EUR	80		87
Ryder System, Inc.,
5.30%, 03/15/2027		285		287
5.65%, 03/01/2028		50		51
6.60%, 12/01/2033		371		402
TOTE Maritime Alaska LLC, Series 45323, 6.37%, 04/15/2028		2,843		2,898
United Parcel Service, Inc., 1.50%, 11/15/2032	EUR	1,125		1,043
				33,780

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Trucking & Leasing — 0.0% (g)
GATX Corp., 5.40%, 03/15/2027		60		61
Penske Truck Leasing Co. LP / PTL Finance Corp.,
4.40%, 07/01/2027 (e)		730		711
5.55%, 05/01/2028 (e)		1,135		1,148
5.75%, 05/24/2026 (e)		860		866
6.05%, 08/01/2028 (e)		660		679
				3,465
Total Industrial				402,736
Technology — 1.5%
Computers — 0.3%
Amdocs Ltd., (Guernsey), 2.54%, 06/15/2030		1,175		1,006
Apple, Inc.,
0.50%, 11/15/2031	EUR	6,000		5,449
1.38%, 05/24/2029	EUR	8,100		8,091
1.63%, 11/10/2026	EUR	1,125		1,168
2.55%, 08/20/2060		15		9
2.65%, 05/11/2050		25		17
2.65%, 02/08/2051		30		20
2.85%, 08/05/2061		40		26
3.05%, 07/31/2029	GBP	425		507
3.75%, 09/12/2047		1,000		826
4.10%, 08/08/2062		20		17
Capgemini SE, (France), Reg. S, 0.63%, 06/23/2025	EUR	100		104
CGI, Inc., (Canada),
1.45%, 09/14/2026		60		55
2.30%, 09/14/2031		580		467
Dell Bank International DAC, (Ireland),
Reg. S, 0.50%, 10/27/2026	EUR	1,000		1,000
Reg. S, 4.50%, 10/18/2027	EUR	1,000		1,111
Dell International LLC / EMC Corp., 5.40%, 04/15/2034		1,090		1,092
Fortinet, Inc., 2.20%, 03/15/2031		210		175
Genpact Luxembourg Sarl, (Luxembourg), 3.38%, 12/01/2024		1,400		1,380
Hewlett Packard Enterprise Co., 6.10%, 04/01/2026		145		145
IBM International Capital Pte Ltd., (Singapore), 5.30%, 02/05/2054		190		186
International Business Machines Corp.,
1.20%, 02/11/2040	EUR	561		441
1.25%, 02/09/2034	EUR	1,000		893
2.72%, 02/09/2032		100		87
3.43%, 02/09/2052		200		145
3.50%, 05/15/2029		300		282
4.50%, 02/06/2028		225		223
4.88%, 02/06/2038	GBP	1,000		1,221
4.90%, 07/27/2052		250		234
Kyndryl Holdings, Inc.,
2.05%, 10/15/2026		20		18
2.70%, 10/15/2028		51		45
4.10%, 10/15/2041		160		123
6.35%, 02/20/2034		430		441

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Leidos, Inc.,
2.30%, 02/15/2031		480		397
4.38%, 05/15/2030		280		266
NetApp, Inc., 1.88%, 06/22/2025		1,700		1,626
Teledyne FLIR LLC, 2.50%, 08/01/2030		550		468
Western Digital Corp., 3.10%, 02/01/2032		74		60
				29,821
Office/Business & Equipment — 0.0% (g)
CDW LLC / CDW Finance Corp.,
2.67%, 12/01/2026		1,039		965
3.25%, 02/15/2029		329		298
3.28%, 12/01/2028		703		641
3.57%, 12/01/2031		852		750
4.13%, 05/01/2025		1,915		1,878
4.25%, 04/01/2028		12		12
				4,544
Semiconductors — 0.3%
Analog Devices, Inc.,
1.70%, 10/01/2028		200		176
3.45%, 06/15/2027		270		258
Applied Materials, Inc., 3.30%, 04/01/2027		55		53
ASML Holding NV, (Netherlands),
Reg. S, 0.25%, 02/25/2030	EUR	6,000		5,553
Reg. S, 0.63%, 05/07/2029	EUR	1,200		1,154
Reg. S, 1.38%, 07/07/2026	EUR	2,000		2,071
Reg. S, 1.63%, 05/28/2027	EUR	2,750		2,836
Reg. S, 2.25%, 05/17/2032	EUR	5,000		5,149
Broadcom, Inc.,
2.45%, 02/15/2031 (e)		80		67
3.14%, 11/15/2035 (e)		3,996		3,229
3.19%, 11/15/2036 (e)		2,170		1,729
3.42%, 04/15/2033 (e)		293		254
3.47%, 04/15/2034 (e)		100		86
3.50%, 02/15/2041 (e)		635		493
4.00%, 04/15/2029 (e)		340		324
4.93%, 05/15/2037 (e)		109		104
Infineon Technologies AG, (Germany),
Reg. S, 0.63%, 02/17/2025	EUR	2,000		2,101
Reg. S, 1.13%, 06/24/2026	EUR	1,400		1,437
Intel Corp.,
4.88%, 02/10/2028		300		301
5.60%, 02/21/2054		615		628
5.63%, 02/10/2043		225		233
5.90%, 02/10/2063		295		313
Marvell Technology, Inc.,
2.95%, 04/15/2031		310		267
5.75%, 02/15/2029		277		284
5.95%, 09/15/2033		129		134
Microchip Technology, Inc., 4.25%, 09/01/2025		3,680		3,620

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Micron Technology, Inc.,
5.30%, 01/15/2031		1,135		1,143
6.75%, 11/01/2029		100		107
NVIDIA Corp., 3.70%, 04/01/2060		10		8
NXP BV / NXP Funding LLC / NXP USA, Inc., (Multinational),
2.50%, 05/11/2031		480		402
3.40%, 05/01/2030		1,295		1,177
3.88%, 06/18/2026		590		573
Qorvo, Inc., 4.38%, 10/15/2029		285		267
Skyworks Solutions, Inc., 3.00%, 06/01/2031		340		285
Texas Instruments, Inc.,
1.75%, 05/04/2030		59		50
2.70%, 09/15/2051		260		169
4.15%, 05/15/2048		17		15
				37,050
Software — 0.9%
Adobe, Inc., 2.30%, 02/01/2030		288		253
Broadridge Financial Solutions, Inc., 2.60%, 05/01/2031		80		67
Electronic Arts, Inc.,
1.85%, 02/15/2031		117		96
2.95%, 02/15/2051		321		215
Fidelity National Information Services, Inc., 3.10%, 03/01/2041		180		131
Fiserv, Inc.,
1.63%, 07/01/2030	EUR	195		187
3.00%, 07/01/2031	GBP	8,000		8,928
3.50%, 07/01/2029		170		158
4.40%, 07/01/2049		87		74
5.38%, 08/21/2028		1,520		1,536
5.45%, 03/15/2034		1,380		1,397
5.60%, 03/02/2033		415		423
5.63%, 08/21/2033		2,327		2,380
Intuit, Inc.,
1.65%, 07/15/2030		288		238
5.20%, 09/15/2033		100		102
5.50%, 09/15/2053		200		208
Microsoft Corp.,
2.50%, 09/15/2050 (e)		70		45
2.53%, 06/01/2050		1,265		830
2.68%, 06/01/2060		535		345
3.04%, 03/17/2062		30		21
3.13%, 12/06/2028	EUR	10,005		10,949
Oracle Corp.,
1.65%, 03/25/2026		155		145
2.30%, 03/25/2028		900		813
2.65%, 07/15/2026		250		237
2.95%, 04/01/2030		495		441
3.60%, 04/01/2050		1,365		986
3.65%, 03/25/2041		551		433
3.85%, 04/01/2060		124		88

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
3.95%, 03/25/2051		270		206
4.00%, 07/15/2046		475		373
4.10%, 03/25/2061		305		230
4.30%, 07/08/2034		309		285
4.65%, 05/06/2030		115		113
4.90%, 02/06/2033		30		29
5.55%, 02/06/2053		670		657
6.90%, 11/09/2052		745		857
Roper Technologies, Inc.,
1.75%, 02/15/2031		137		111
2.00%, 06/30/2030		77		64
2.95%, 09/15/2029		2		2
4.20%, 09/15/2028		347		337
Sage Group plc (The), (United Kingdom),
Reg. S, 1.63%, 02/25/2031	GBP	2,000		2,056
Reg. S, 2.88%, 02/08/2034	GBP	2,500		2,642
Reg. S, 3.82%, 02/15/2028	EUR	35,200		38,521
SAP SE, (Germany),
Reg. S, 0.38%, 05/18/2029	EUR	7,000		6,638
Reg. S, 1.00%, 04/01/2025	EUR	50		53
Reg. S, 1.38%, 03/13/2030	EUR	7,500		7,408
Reg. S, 1.63%, 03/10/2031	EUR	15,000		14,826
ServiceNow, Inc., 1.40%, 09/01/2030		15		12
VMware LLC, 4.50%, 05/15/2025		235		233
				107,379
Total Technology				178,794
Utilities — 3.6%
Electric — 3.0%
A2A SpA, (Italy),
Reg. S, 1.00%, 07/16/2029	EUR	100		95
Reg. S, 1.00%, 11/02/2033	EUR	100		83
Reg. S, 1.63%, 10/19/2027	EUR	200		203
Reg. S, 4.38%, 02/03/2034	EUR	100		112
ACEA SpA, (Italy),
Reg. S, 0.50%, 04/06/2029	EUR	100		93
Reg. S, 1.75%, 05/23/2028	EUR	130		131
Reg. S, 3.88%, 01/24/2031	EUR	200		218
AEP Texas, Inc.,
3.45%, 05/15/2051		10		7
4.70%, 05/15/2032		885		845
5.25%, 05/15/2052		10		10
Series I, 2.10%, 07/01/2030		2,600		2,166
AEP Transmission Co. LLC, 5.15%, 04/01/2034		50		50
AES Corp. (The), 2.45%, 01/15/2031		125		102
Alabama Power Co.,
3.00%, 03/15/2052		60		41
3.75%, 09/01/2027		310		298
Algonquin Power & Utilities Corp., (Canada), SUB, 5.37%, 06/15/2026		475		473
Alliander NV, (Netherlands), Reg. S, 2.63%, 09/09/2027	EUR	400		424

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Ameren Corp.,
2.50%, 09/15/2024		30		30
3.50%, 01/15/2031		10		9
Ameren Illinois Co.,
1.55%, 11/15/2030		30		24
3.25%, 03/15/2050		1,200		855
4.95%, 06/01/2033		10		10
5.90%, 12/01/2052		20		21
American Electric Power Co., Inc.,
2.30%, 03/01/2030		25		21
3.25%, 03/01/2050		20		14
5.95%, 11/01/2032		120		125
Amprion GmbH, (Germany),
Reg. S, 0.63%, 09/23/2033	EUR	1,500		1,242
Reg. S, 3.97%, 09/22/2032	EUR	800		889
Appalachian Power Co.,
Series BB, 4.50%, 08/01/2032		150		141
Series Y, 4.50%, 03/01/2049		20		16
Series Z, 3.70%, 05/01/2050		45		32
Arizona Public Service Co.,
2.20%, 12/15/2031		100		81
2.60%, 08/15/2029		84		75
2.65%, 09/15/2050		30		18
3.35%, 05/15/2050		60		41
4.25%, 03/01/2049		10		8
5.55%, 08/01/2033		1,375		1,391
Atlantic City Electric Co., 4.00%, 10/15/2028		50		48
Avista Corp., 4.00%, 04/01/2052		30		23
Baltimore Gas and Electric Co.,
2.90%, 06/15/2050		50		33
4.55%, 06/01/2052		300		262
5.40%, 06/01/2053		50		50
Berkshire Hathaway Energy Co.,
1.65%, 05/15/2031		400		320
2.85%, 05/15/2051		420		271
3.70%, 07/15/2030		20		19
4.25%, 10/15/2050		15		12
4.60%, 05/01/2053		55		48
5.15%, 11/15/2043		60		59
Black Hills Corp.,
2.50%, 06/15/2030		100		84
3.05%, 10/15/2029		20		18
3.88%, 10/15/2049		10		7
CenterPoint Energy Houston Electric LLC,
5.20%, 10/01/2028		40		41
5.30%, 04/01/2053		50		50
Series AD, 2.90%, 07/01/2050		45		30
Series AF, 3.35%, 04/01/2051		10		7
Series AH, 3.60%, 03/01/2052		10		8
Series AJ, 4.85%, 10/01/2052		100		93

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
CenterPoint Energy, Inc.,
2.95%, 03/01/2030		45		40
4.25%, 11/01/2028		3		3
CEZ A/S, (Czech Republic), Reg. S, 2.38%, 04/06/2027	EUR	1,425		1,470
Cleveland Electric Illuminating Co. (The), 5.95%, 12/15/2036		30		30
Coentreprise de Transport d'Electricite SA, (France),
Reg. S, 1.50%, 07/29/2028	EUR	100		100
Reg. S, 2.13%, 07/29/2032	EUR	100		97
Reg. S, 3.75%, 01/17/2036	EUR	100		109
Commonwealth Edison Co.,
3.00%, 03/01/2050		55		37
3.70%, 08/15/2028		10		10
4.00%, 03/01/2048		25		20
4.00%, 03/01/2049		10		8
4.35%, 11/15/2045		980		837
5.30%, 02/01/2053		10		10
Series 131, 2.75%, 09/01/2051		440		273
Series 132, 3.15%, 03/15/2032		200		177
Connecticut Light and Power Co. (The), Series A, 2.05%, 07/01/2031		905		741
Consolidated Edison Co. of New York, Inc.,
3.20%, 12/01/2051		100		68
3.60%, 06/15/2061		210		152
3.85%, 06/15/2046		10		8
5.20%, 03/01/2033		100		102
5.90%, 11/15/2053		600		641
6.15%, 11/15/2052		60		66
Series 09-C, 5.50%, 12/01/2039		10		10
Series 20A, 3.35%, 04/01/2030		70		64
Series 20B, 3.95%, 04/01/2050		55		45
Series A, 4.13%, 05/15/2049		20		16
Series C, 3.00%, 12/01/2060		40		25
Series E, 4.65%, 12/01/2048		10		9
Constellation Energy Generation LLC,
5.60%, 06/15/2042		70		69
5.80%, 03/01/2033		20		21
6.50%, 10/01/2053		50		55
Consumers Energy Co.,
2.50%, 05/01/2060		10		6
3.10%, 08/15/2050		30		21
3.75%, 02/15/2050		25		20
4.20%, 09/01/2052		200		168
4.60%, 05/30/2029		50		49
Dominion Energy South Carolina, Inc.,
4.60%, 06/15/2043		1,400		1,251
6.25%, 10/15/2053		535		600
Dominion Energy, Inc.,
3.90%, 10/01/2025		220		215
4.25%, 06/01/2028		20		19
Series A, 4.35%, 08/15/2032		200		189
Series A, 4.60%, 03/15/2049		10		9

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Series B, 4.85%, 08/15/2052		245		219
Series C, 3.38%, 04/01/2030		20		18
DTE Electric Co.,
2.95%, 03/01/2050		25		17
3.70%, 03/15/2045		1,100		877
3.95%, 03/01/2049		10		8
Series B, 3.25%, 04/01/2051		200		140
DTE Energy Co.,
2.85%, 10/01/2026		250		236
Series C, 3.40%, 06/15/2029		19		18
Duke Energy Carolinas LLC,
3.55%, 03/15/2052		60		44
3.95%, 11/15/2028		40		39
4.95%, 01/15/2033		130		129
5.30%, 02/15/2040		10		10
5.35%, 01/15/2053		65		64
5.40%, 01/15/2054		20		20
Duke Energy Corp.,
0.90%, 09/15/2025		40		37
2.45%, 06/01/2030		110		95
2.55%, 06/15/2031		10		8
2.65%, 09/01/2026		30		28
3.10%, 06/15/2028	EUR	2,150		2,276
3.50%, 06/15/2051		40		28
3.75%, 09/01/2046		10		8
3.85%, 06/15/2034	EUR	2,200		2,349
4.20%, 06/15/2049		20		16
4.30%, 03/15/2028		100		98
4.50%, 08/15/2032		450		427
4.85%, 01/05/2029		10		10
5.00%, 08/15/2052		170		154
6.10%, 09/15/2053		30		32
Duke Energy Florida LLC,
3.00%, 12/15/2051		70		46
4.20%, 07/15/2048		10		8
Duke Energy Indiana LLC,
2.75%, 04/01/2050		20		13
5.25%, 03/01/2034		60		60
5.40%, 04/01/2053		20		20
Series YYY, 3.25%, 10/01/2049		40		28
Duke Energy Ohio, Inc.,
2.13%, 06/01/2030		30		25
3.65%, 02/01/2029		10		9
4.30%, 02/01/2049		80		67
Duke Energy Progress LLC,
3.40%, 04/01/2032		290		259
4.00%, 04/01/2052		150		119
E.ON International Finance BV, (Netherlands),
Reg. S, 5.88%, 10/30/2037	GBP	1,000		1,318
Reg. S, 6.13%, 07/06/2039	GBP	3,650		4,905

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
E.ON SE, (Germany),
Reg. S, 1.00%, 10/07/2025	EUR	100		104
Reg. S, 3.50%, 01/12/2028	EUR	11,000		11,995
Eastern Power Networks plc, (United Kingdom), Reg. S, 5.38%, 02/26/2042	GBP	5,800		7,405
EDP - Energias de Portugal SA, (Portugal), Reg. S, 1.63%, 04/15/2027	EUR	200		205
EDP Finance BV, (Netherlands), Reg. S, 2.00%, 04/22/2025	EUR	1,300		1,380
El Paso Electric Co., 5.00%, 12/01/2044		20		17
Electricite de France SA, (France),
Reg. S, 1.00%, 10/13/2026	EUR	600		609
Reg. S, 1.00%, 11/29/2033	EUR	100		84
Reg. S, 1.88%, 10/13/2036	EUR	200		171
Reg. S, 2.00%, 12/09/2049	EUR	700		499
Reg. S, 4.25%, 01/25/2032	EUR	400		447
Reg. S, 4.63%, 01/25/2043	EUR	100		112
Reg. S, 4.75%, 10/12/2034	EUR	1,600		1,849
Reg. S, 5.13%, 09/22/2050	GBP	800		876
Reg. S, 5.50%, 03/27/2037	GBP	500		609
Reg. S, 5.50%, 10/17/2041	GBP	1,000		1,182
5.88%, 07/18/2031	GBP	465		608
Reg. S, 6.00%, 01/23/2114	GBP	600		716
Reg. S, 6.13%, 06/02/2034	GBP	600		782
Reg. S, 6.25%, 05/30/2028	GBP	3,000		3,963
Elia Transmission Belgium SA, (Belgium), Reg. S, 3.63%, 01/18/2033	EUR	5,400		5,924
Emera US Finance LP, 2.64%, 06/15/2031		110		90
EnBW Energie Baden-Wuerttemberg AG, (Germany),
Reg. S, (EUR Swap Rate 5 Year + 1.65%), 1.38%, 08/31/2081 (aa)	EUR	100		93
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.73%), 1.63%, 08/05/2079 (aa)	EUR	100		98
Reg. S, (EUR Swap Rate 5 Year + 2.32%), 1.88%, 06/29/2080 (aa)	EUR	100		102
EnBW International Finance BV, (Netherlands),
Reg. S, 0.13%, 03/01/2028	EUR	182		177
Reg. S, 0.50%, 03/01/2033	EUR	97		81
Reg. S, 0.63%, 04/17/2025	EUR	200		209
Reg. S, 3.50%, 07/24/2028	EUR	120		131
Reg. S, 4.00%, 01/24/2035	EUR	100		111
Reg. S, 4.05%, 11/22/2029	EUR	200		224
Reg. S, 4.30%, 05/23/2034	EUR	100		113
Reg. S, 6.13%, 07/07/2039	EUR	40		54
Enel Finance International NV, (Netherlands),
Reg. S, 0.00%, 05/28/2026	EUR	3,000		3,004
Reg. S, 0.00%, 06/17/2027	EUR	627		608
Reg. S, 0.25%, 11/17/2025	EUR	2,000		2,043
Reg. S, 0.38%, 06/17/2027	EUR	1,000		981
Reg. S, 0.38%, 05/28/2029	EUR	10,000		9,330
Reg. S, 0.50%, 06/17/2030	EUR	3,000		2,736
Reg. S, 0.88%, 01/17/2031	EUR	8,500		7,771
Reg. S, 0.88%, 09/28/2034	EUR	4,482		3,678
Reg. S, 0.88%, 06/17/2036	EUR	8,700		6,772
Reg. S, 1.00%, 09/16/2024	EUR	1,000		1,065
Reg. S, 1.25%, 01/17/2035	EUR	741		629
Reg. S, 1.50%, 07/21/2025	EUR	2,980		3,131

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
2.65%, 09/10/2024 (e)		3,500		3,451
3.50%, 04/06/2028 (e)		1,300		1,226
Reg. S, 3.88%, 03/09/2029	EUR	422		465
Reg. S, 4.50%, 02/20/2043	EUR	4,000		4,508
Enel SpA, (Italy),
Reg. S, 5.63%, 06/21/2027	EUR	2,000		2,316
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 3.49%), 6.38% (x) (aa)	EUR	7,000		7,967
Series 9.5Y, Reg. S, (EUR Swap Rate 5 Year + 2.01%), 1.88% (x) (aa)	EUR	1,100		978
Series 63.5, Reg. S, (EUR Swap Rate 5 Year + 2.58%), 3.38%, 08/24/2026 (x) (aa)	EUR	5,000		5,214
e-netz Suedhessen AG, (Germany), 6.13%, 04/23/2041	EUR	20		27
Enexis Holding NV, (Netherlands),
Reg. S, 0.38%, 04/14/2033	EUR	200		169
Reg. S, 0.75%, 07/02/2031	EUR	134		122
Reg. S, 0.88%, 04/28/2026	EUR	100		103
Engie SA, (France),
Reg. S, 0.38%, 06/21/2027	EUR	1,000		981
Reg. S, 0.38%, 10/26/2029	EUR	1,000		920
Reg. S, 0.50%, 10/24/2030	EUR	2,000		1,802
Reg. S, 1.00%, 10/26/2036	EUR	1,000		794
Reg. S, 1.38%, 03/27/2025	EUR	1,000		1,055
Reg. S, (EUR Swap Rate 5 Year + 1.88%), 1.50%, 05/30/2028 (x) (aa)	EUR	3,000		2,864
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.84%), 1.63%, 04/08/2025 (x) (aa)	EUR	1,000		1,041
Reg. S, 1.75%, 03/27/2028	EUR	3,000		3,045
Reg. S, 1.88%, 09/19/2033	EUR	2,600		2,429
Reg. S, 2.00%, 09/28/2037	EUR	1,000		883
Reg. S, 2.38%, 05/19/2026	EUR	3,000		3,170
Reg. S, (EUR Swap Rate 5 Year + 3.17%), 3.25%, 11/28/2024 (x) (aa)	EUR	1,800		1,917
Reg. S, 3.75%, 09/06/2027	EUR	2,000		2,182
Reg. S, 5.00%, 10/01/2060	GBP	4,000		4,683
Reg. S, 7.00%, 10/30/2028	GBP	2,000		2,759
Entergy Arkansas LLC,
2.65%, 06/15/2051		50		31
4.20%, 04/01/2049		10		8
Entergy Corp.,
0.90%, 09/15/2025		230		216
3.75%, 06/15/2050		30		22
Entergy Louisiana LLC,
1.60%, 12/15/2030		2,300		1,835
2.35%, 06/15/2032		30		25
2.90%, 03/15/2051		30		19
3.12%, 09/01/2027		2,500		2,359
3.25%, 04/01/2028		10		9
4.20%, 09/01/2048		10		8
Entergy Texas, Inc.,
4.00%, 03/30/2029		15		15
5.00%, 09/15/2052		200		183
5.80%, 09/01/2053		10		10
ESB Finance DAC, (Ireland),
Reg. S, 1.13%, 06/11/2030	EUR	100		95
Reg. S, 1.88%, 06/14/2031	EUR	224		217

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Reg. S, 2.13%, 06/08/2027	EUR	100		104
Reg. S, 3.75%, 01/25/2043	EUR	100		106
Evergy Kansas Central, Inc.,
3.45%, 04/15/2050		55		39
5.90%, 11/15/2033		40		42
Evergy Metro, Inc.,
4.20%, 03/15/2048		10		8
Series 2019, 4.13%, 04/01/2049		20		16
Series 2020, 2.25%, 06/01/2030		150		128
Evergy, Inc., 2.45%, 09/15/2024		3,000		2,953
Eversource Energy,
3.38%, 03/01/2032		300		261
3.45%, 01/15/2050		30		21
4.20%, 06/27/2024		85		85
4.60%, 07/01/2027		100		98
Series R, 1.65%, 08/15/2030		10		8
EWE AG, (Germany), Reg. S, 0.38%, 10/22/2032	EUR	90		75
Exelon Corp.,
2.75%, 03/15/2027		200		187
4.05%, 04/15/2030		10		9
4.10%, 03/15/2052		20		16
4.45%, 04/15/2046		10		9
4.70%, 04/15/2050		10		9
FirstEnergy Transmission LLC, 4.35%, 01/15/2025 (e)		1,100		1,087
Florida Power & Light Co.,
2.45%, 02/03/2032		200		169
2.88%, 12/04/2051		295		194
3.15%, 10/01/2049		20		14
3.95%, 03/01/2048		500		409
4.13%, 06/01/2048		20		17
5.30%, 04/01/2053		120		120
FLUVIUS System Operator CVBA, (Belgium),
Reg. S, 0.63%, 11/24/2031	EUR	100		88
Reg. S, 3.88%, 05/09/2033	EUR	3,500		3,854
Reg. S, 4.00%, 07/06/2032	EUR	200		223
Fortum OYJ, (Finland),
Reg. S, 2.13%, 02/27/2029	EUR	100		101
Reg. S, 4.50%, 05/26/2033	EUR	200		227
Georgia Power Co.,
4.70%, 05/15/2032		2,350		2,294
5.13%, 05/15/2052		162		157
Series A, 3.25%, 03/15/2051		20		14
Series B, 3.70%, 01/30/2050		60		46
Hera SpA, (Italy),
Reg. S, 0.25%, 12/03/2030	EUR	160		139
Reg. S, 1.00%, 04/25/2034	EUR	200		166
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		3,076
Series NC8, Reg. S, (EUR Swap Rate 5 Year + 2.57%), 2.25%, 01/28/2029 (x) (aa)	EUR	2,000		1,928
Idaho Power Co., 5.80%, 04/01/2054		75		77
Ignitis Grupe AB, (Lithuania), Reg. S, 2.00%, 05/21/2030	EUR	110		104

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Interstate Power and Light Co., 3.50%, 09/30/2049		110		79
Iren SpA, (Italy), Reg. S, 1.00%, 07/01/2030	EUR	550		507
ITC Holdings Corp., 4.95%, 09/22/2027 (e)		1,170		1,162
Kentucky Utilities Co., 3.30%, 06/01/2050		25		17
MidAmerican Energy Co.,
2.70%, 08/01/2052		15		9
3.10%, 05/01/2027		10		10
5.85%, 09/15/2054		30		32
6.75%, 12/30/2031		10		11
Mississippi Power Co., Series B, 3.10%, 07/30/2051		90		60
National Grid Electricity Distribution East Midlands plc, (United Kingdom),
Reg. S, 3.53%, 09/20/2028	EUR	3,000		3,246
Reg. S, 3.95%, 09/20/2032	EUR	2,000		2,202
Reg. S, 6.25%, 12/10/2040	GBP	1,000		1,374
National Grid Electricity Distribution South Wales plc, (United Kingdom), Series WALE, 5.75%, 03/23/2040	GBP	2,000		2,612
National Grid Electricity Distribution South West plc, (United Kingdom), Reg. S, 5.88%, 03/25/2027	GBP	20		26
National Grid Electricity Transmission plc, (United Kingdom),
Reg. S, 0.19%, 01/20/2025	EUR	1,000		1,048
Reg. S, 2.00%, 04/17/2040	GBP	425		342
National Grid plc, (United Kingdom),
Reg. S, 0.25%, 09/01/2028	EUR	1,000		938
Reg. S, 0.55%, 09/18/2029	EUR	3,075		2,833
Reg. S, 2.18%, 06/30/2026	EUR	3,925		4,101
5.42%, 01/11/2034		60		60
National Rural Utilities Cooperative Finance Corp.,
1.00%, 06/15/2026		200		183
1.35%, 03/15/2031		230		180
3.45%, 06/15/2025		110		108
4.30%, 03/15/2049		20		17
5.80%, 01/15/2033		30		31
Naturgy Finance BV, (Netherlands),
Reg. S, 0.75%, 11/28/2029	EUR	1,200		1,131
Reg. S, 1.25%, 01/15/2026	EUR	3,900		4,031
Reg. S, 1.25%, 04/19/2026	EUR	1,000		1,030
Reg. S, 1.38%, 01/19/2027	EUR	1,200		1,222
Reg. S, 1.88%, 10/05/2029	EUR	1,000		990
Nevada Power Co.,
6.00%, 03/15/2054		35		37
Series DD, 2.40%, 05/01/2030		30		26
Series EE, 3.13%, 08/01/2050		30		20
NextEra Energy Capital Holdings, Inc.,
2.25%, 06/01/2030		1,280		1,090
2.75%, 11/01/2029		35		31
3.00%, 01/15/2052		355		230
4.26%, 09/01/2024		230		229
4.63%, 07/15/2027		200		197
5.25%, 02/28/2053		365		347

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
5.55%, 03/15/2054		285		284
5.75%, 09/01/2025		60		60
6.05%, 03/01/2025		610		612
NIE Finance plc, (United Kingdom), Reg. S, 5.88%, 12/01/2032	GBP	100		134
Northern Powergrid Yorkshire plc, (United Kingdom), Reg. S, 5.13%, 05/04/2035	GBP	150		190
Northern States Power Co.,
2.25%, 04/01/2031		1,450		1,218
2.60%, 06/01/2051		35		22
3.20%, 04/01/2052		30		21
4.50%, 06/01/2052		10		9
5.10%, 05/15/2053		40		38
5.40%, 03/15/2054		35		35
NRG Energy, Inc.,
2.00%, 12/02/2025 (e)		2,150		2,018
2.45%, 12/02/2027 (e)		2,275		2,046
NSTAR Electric Co.,
3.10%, 06/01/2051		30		20
4.55%, 06/01/2052		470		411
4.95%, 09/15/2052		60		56
Oglethorpe Power Corp., 5.05%, 10/01/2048		90		81
Ohio Power Co., Series R, 2.90%, 10/01/2051		15		10
Oklahoma Gas and Electric Co.,
4.15%, 04/01/2047		920		747
5.60%, 04/01/2053		10		10
Oncor Electric Delivery Co. LLC,
3.10%, 09/15/2049		50		35
3.70%, 05/15/2050		5		4
4.30%, 05/15/2028		140		137
4.60%, 06/01/2052		15		13
4.95%, 09/15/2052		150		141
5.65%, 11/15/2033		10		10
Origin Energy Finance Ltd., (Australia), Reg. S, 1.00%, 09/17/2029	EUR	24,460		23,089
Orsted A/S, (Denmark),
Reg. S, 2.13%, 05/17/2027	GBP	5,000		5,788
Reg. S, 2.25%, 06/14/2028	EUR	1,000		1,032
Reg. S, 5.75%, 04/09/2040	GBP	425		554
Pacific Gas and Electric Co.,
3.15%, 01/01/2026		335		322
3.25%, 06/01/2031		40		35
3.50%, 08/01/2050		80		55
3.75%, 07/01/2028		10		9
3.95%, 12/01/2047		900		671
4.50%, 07/01/2040		230		197
4.55%, 07/01/2030		30		28
4.95%, 07/01/2050		920		793
5.25%, 03/01/2052		100		89
6.70%, 04/01/2053		20		22
6.75%, 01/15/2053		90		98
6.95%, 03/15/2034		90		99

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		840		513
3.30%, 03/15/2051		1,750		1,170
4.13%, 01/15/2049		165		130
4.15%, 02/15/2050		120		94
5.30%, 02/15/2031		150		150
5.35%, 12/01/2053		5		5
5.50%, 05/15/2054		110		106
PECO Energy Co.,
2.80%, 06/15/2050		50		33
3.05%, 03/15/2051		435		297
4.60%, 05/15/2052		385		345
4.90%, 06/15/2033		1,680		1,679
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, (Indonesia), Reg. S, 1.88%, 11/05/2031	EUR	1,000		888
Potomac Electric Power Co., 5.50%, 03/15/2054		55		56
PPL Capital Funding, Inc., 4.13%, 04/15/2030		330		312
PPL Electric Utilities Corp.,
4.85%, 02/15/2034		985		969
5.25%, 05/15/2053		80		79
Public Service Co. of Colorado,
5.25%, 04/01/2053		50		48
Series 36, 2.70%, 01/15/2051		10		6
Series 38, 4.10%, 06/01/2032		200		186
Series 39, 4.50%, 06/01/2052		160		135
Public Service Co. of New Hampshire, 5.35%, 10/01/2033		10		10
Public Service Electric and Gas Co.,
1.90%, 08/15/2031		35		29
2.05%, 08/01/2050		60		34
2.45%, 01/15/2030		20		17
3.00%, 03/01/2051		70		48
3.10%, 03/15/2032		300		263
3.65%, 09/01/2028		120		115
3.85%, 05/01/2049		10		8
4.65%, 03/15/2033		100		97
Puget Energy, Inc.,
2.38%, 06/15/2028		1,040		928
4.10%, 06/15/2030		10		9
4.22%, 03/15/2032		200		181
Puget Sound Energy, Inc.,
2.89%, 09/15/2051		10		6
3.25%, 09/15/2049		20		14
Red Electrica Financiaciones SAU, (Spain), Reg. S, 1.13%, 04/24/2025	EUR	200		210
Ren Finance BV, (Netherlands),
Reg. S, 0.50%, 04/16/2029	EUR	1,000		945
Reg. S, 1.75%, 01/18/2028	EUR	1,000		1,016

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
RTE Reseau de Transport d'Electricite SADIR, (France),
Reg. S, 0.75%, 01/12/2034	EUR	100		85
Reg. S, 1.13%, 07/08/2040	EUR	200		152
Reg. S, 1.13%, 09/09/2049	EUR	100		68
Reg. S, 1.50%, 09/27/2030	EUR	100		97
Reg. S, 1.63%, 11/27/2025	EUR	300		315
Reg. S, 2.00%, 04/18/2036	EUR	100		93
Reg. S, 3.75%, 07/04/2035	EUR	100		111
RWE AG, (Germany),
Reg. S, 2.13%, 05/24/2026	EUR	2,000		2,101
Reg. S, 4.13%, 02/13/2035	EUR	2,225		2,491
San Diego Gas & Electric Co.,
4.15%, 05/15/2048		820		685
Series WWW, 2.95%, 08/15/2051		25		17
Series XXX, 3.00%, 03/15/2032		310		269
Scottish Hydro Electric Transmission plc, (United Kingdom), Reg. S, 2.13%, 03/24/2036	GBP	1,500		1,406
Sempra,
3.40%, 02/01/2028		10		9
3.70%, 04/01/2029		100		94
4.00%, 02/01/2048		10		8
5.50%, 08/01/2033		70		70
Sierra Pacific Power Co., 2.60%, 05/01/2026		100		95
Southern California Edison Co.,
2.75%, 02/01/2032		100		85
2.85%, 08/01/2029		10		9
3.45%, 02/01/2052		360		254
3.65%, 02/01/2050		80		59
4.00%, 04/01/2047		20		16
4.05%, 03/15/2042		900		747
5.20%, 06/01/2034		80		79
5.88%, 12/01/2053		50		52
6.05%, 03/15/2039		10		10
Series 20A, 2.95%, 02/01/2051		6		4
Series B, 3.65%, 03/01/2028		25		24
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		170
5.70%, 10/15/2032		100		104
5.70%, 03/15/2034		5		5
Series 21-A, (CMT Index 5 Year + 2.92%), 3.75%, 09/15/2051 (aa)		90		84
Series A, 3.70%, 04/30/2030		95		88
Southwestern Electric Power Co.,
3.25%, 11/01/2051		325		216
5.30%, 04/01/2033		90		89
Series N, 1.65%, 03/15/2026		50		47
Southwestern Public Service Co.,
3.70%, 08/15/2047		1,000		719
Series 8, 3.15%, 05/01/2050		60		40
SP Transmission plc, (United Kingdom), Reg. S, 2.00%, 11/13/2031	GBP	100		105

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		2,076
Reg. S, 1.25%, 04/16/2025	EUR	1,000		1,052
Reg. S, 1.38%, 09/04/2027	EUR	3,000		3,031
Reg. S, 6.25%, 08/27/2038	GBP	3,000		4,193
State Grid Overseas Investment BVI Ltd., (British Virgin Islands), Reg. S, 1.30%, 08/05/2032	EUR	500		445
Statkraft A/S, (Norway), Reg. S, 1.50%, 03/26/2030	EUR	5,000		4,875
Stedin Holding NV, (Netherlands),
Reg. S, 0.88%, 10/24/2025	EUR	100		104
Reg. S, 1.38%, 09/19/2028	EUR	200		199
Reg. S, 2.38%, 06/03/2030	EUR	200		204
System Energy Resources, Inc., 6.00%, 04/15/2028		270		276
Tampa Electric Co., 4.30%, 06/15/2048		120		100
Tauron Polska Energia SA, (Poland), Reg. S, 2.38%, 07/05/2027	EUR	3,550		3,587
TenneT Holding BV, (Netherlands),
Reg. S, 0.88%, 06/03/2030	EUR	120		118
Reg. S, 1.00%, 06/13/2026	EUR	200		208
Reg. S, 1.13%, 06/09/2041	EUR	100		88
Reg. S, 1.38%, 06/26/2029	EUR	100		101
Reg. S, 1.63%, 11/17/2026	EUR	450		471
Reg. S, 2.00%, 06/05/2034	EUR	100		96
Reg. S, 2.75%, 05/17/2042	EUR	100		101
Reg. S, 4.50%, 10/28/2034	EUR	500		591
Reg. S, 4.75%, 10/28/2042	EUR	100		123
Terna - Rete Elettrica Nazionale, (Italy),
Reg. S, 0.13%, 07/25/2025	EUR	3,900		4,023
Reg. S, 0.38%, 09/25/2030	EUR	825		733
Reg. S, 0.75%, 07/24/2032	EUR	200		175
Reg. S, 1.00%, 04/10/2026	EUR	4,000		4,111
Reg. S, 1.00%, 10/11/2028	EUR	1,000		974
Reg. S, 1.38%, 07/26/2027	EUR	2,125		2,147
Reg. S, 3.50%, 01/17/2031	EUR	15,200		16,380
Tucson Electric Power Co.,
1.50%, 08/01/2030		30		24
3.25%, 05/01/2051		10		7
4.00%, 06/15/2050		10		8
5.50%, 04/15/2053		30		29
Union Electric Co.,
2.15%, 03/15/2032		50		41
2.63%, 03/15/2051		10		6
3.25%, 10/01/2049		40		28
3.90%, 04/01/2052		250		197
Vattenfall AB, (Sweden), Reg. S, 3.75%, 10/18/2026	EUR	6,000		6,518
Verbund AG, (Austria), Reg. S, 0.90%, 04/01/2041	EUR	100		73
Virginia Electric and Power Co.,
3.30%, 12/01/2049		50		35
5.35%, 01/15/2054		75		74
5.45%, 04/01/2053		50		50
Series B, 3.80%, 09/15/2047		60		46
Series C, 4.63%, 05/15/2052		60		52
Vistra Operations Co. LLC, 3.55%, 07/15/2024 (e)		1,400		1,390

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
WEC Energy Group, Inc.,
3.55%, 06/15/2025		47		46
5.00%, 09/27/2025		300		298
Wisconsin Electric Power Co., 1.70%, 06/15/2028		10		9
Wisconsin Power and Light Co.,
3.00%, 07/01/2029		50		46
5.38%, 03/30/2034		40		40
Wisconsin Public Service Corp.,
2.85%, 12/01/2051		20		13
3.30%, 09/01/2049		55		39
Xcel Energy, Inc.,
1.75%, 03/15/2027		100		90
3.40%, 06/01/2030		20		18
3.50%, 12/01/2049		20		14
4.60%, 06/01/2032		165		155
				352,878
Gas — 0.5%
APA Infrastructure Ltd., (Australia),
Reg. S, 0.75%, 03/15/2029	EUR	4,800		4,510
Reg. S, 1.25%, 03/15/2033	EUR	3,900		3,388
Reg. S, 2.00%, 03/22/2027	EUR	2,000		2,059
Reg. S, 2.00%, 07/15/2030	EUR	1,000		979
Reg. S, 3.50%, 03/22/2030	GBP	2,430		2,763
Atmos Energy Corp.,
1.50%, 01/15/2031		1,630		1,309
2.63%, 09/15/2029		15		14
2.85%, 02/15/2052		5		3
3.38%, 09/15/2049		210		153
4.15%, 01/15/2043		10		9
5.75%, 10/15/2052		100		106
6.20%, 11/15/2053		20		23
Cadent Finance plc, (United Kingdom), Reg. S, 2.63%, 09/22/2038	GBP	1,725		1,549
CenterPoint Energy Resources Corp.,
4.40%, 07/01/2032		30		28
5.25%, 03/01/2028		150		152
Centrica plc, (United Kingdom), Reg. S, 4.25%, 09/12/2044	GBP	3,000		3,175
Italgas SpA, (Italy), Reg. S, 1.00%, 12/11/2031	EUR	1,125		1,004
National Gas Transmission plc, (United Kingdom), Reg. S, 1.38%, 02/07/2031	GBP	1,600		1,578
National Grid North America, Inc.,
Reg. S, 0.41%, 01/20/2026	EUR	2,500		2,541
Reg. S, 1.00%, 07/12/2024	EUR	1,000		1,070
Nederlandse Gasunie NV, (Netherlands),
Reg. S, 0.75%, 10/13/2036	EUR	100		78
Reg. S, 3.38%, 07/11/2034	EUR	100		108
NiSource, Inc.,
0.95%, 08/15/2025		3,000		2,824
3.49%, 05/15/2027		130		124
3.60%, 05/01/2030		25		23
4.38%, 05/15/2047		15		13

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
4.80%, 02/15/2044		10		9
5.00%, 06/15/2052		110		102
5.40%, 06/30/2033		50		50
ONE Gas, Inc., 4.25%, 09/01/2032		120		115
Piedmont Natural Gas Co., Inc.,
2.50%, 03/15/2031		1,550		1,308
3.35%, 06/01/2050		15		10
5.05%, 05/15/2052		610		558
Redexis Gas Finance BV, (Netherlands), Reg. S, 1.88%, 05/28/2025	EUR	1,300		1,369
Snam SpA, (Italy),
Reg. S, 0.00%, 08/15/2025	EUR	2,000		2,056
Reg. S, 0.00%, 12/07/2028	EUR	500		463
Reg. S, 0.75%, 06/20/2029	EUR	3,175		2,992
Reg. S, 0.75%, 06/17/2030	EUR	1,500		1,375
Reg. S, 0.88%, 10/25/2026	EUR	6,000		6,074
Southern California Gas Co.,
Series VV, 4.30%, 01/15/2049		20		17
Series WW, 3.95%, 02/15/2050		200		156
Southern Co. Gas Capital Corp.,
3.95%, 10/01/2046		20		15
5.15%, 09/15/2032		100		100
5.75%, 09/15/2033		50		52
Series 20-A, 1.75%, 01/15/2031		3,700		3,004
Series 21A, 3.15%, 09/30/2051		15		10
Southern Gas Networks plc, (United Kingdom),
Reg. S, 2.50%, 02/03/2025	GBP	825		1,015
6.38%, 05/15/2040	GBP	825		1,126
Southwest Gas Corp.,
4.05%, 03/15/2032		125		114
4.15%, 06/01/2049		10		8
SPP-Distribucia A/S, (Slovakia), Reg. S, 1.00%, 06/09/2031	EUR	100		83
Vier Gas Transport GmbH, (Germany), Reg. S, 0.50%, 09/10/2034	EUR	1,200		950
Wales & West Utilities Finance plc, (United Kingdom), Reg. S, 1.88%, 05/28/2041	GBP	825		637
Washington Gas Light Co., 3.65%, 09/15/2049		10		7
				53,358
Water — 0.1%
Affinity Water Finance 2004 plc, (United Kingdom), 5.88%, 07/13/2026	GBP	30		38
American Water Capital Corp.,
4.15%, 06/01/2049		60		50
4.45%, 06/01/2032		330		318
Essential Utilities, Inc.,
2.40%, 05/01/2031		100		83
2.70%, 04/15/2030		40		35
5.30%, 05/01/2052		10		9
5.38%, 01/15/2034		70		70
Northumbrian Water Finance plc, (United Kingdom),
Reg. S, 1.63%, 10/11/2026	GBP	825		952
Reg. S, 5.13%, 01/23/2042	GBP	1,000		1,183
Reg. S, 5.63%, 04/29/2033	GBP	425		547

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Thames Water Utilities Finance plc, (United Kingdom),
Reg. S, 0.88%, 01/31/2028	EUR	2,375		2,149
Reg. S, 2.38%, 04/22/2040	GBP	300		223
Reg. S, 5.50%, 02/11/2041	GBP	1,050		1,122
6.75%, 11/16/2028	GBP	380		469
United Utilities Water Finance plc, (United Kingdom), Reg. S, 2.00%, 07/03/2033	GBP	900		894
Wessex Water Services Finance plc, (United Kingdom),
Reg. S, 1.50%, 09/17/2029	GBP	2,700		2,815
Reg. S, 5.38%, 03/10/2028	GBP	2,425		3,066
				14,023
Total Utilities				420,259
Total Corporate Bonds (Cost $4,777,024)				4,788,759
Foreign Government Securities — 36.5%
Action Logement Services, (France),
Reg. S, 0.38%, 10/05/2031	EUR	100		89
Reg. S, 3.13%, 09/28/2037	EUR	300		311
Reg. S, 3.63%, 05/25/2043	EUR	100		107
Reg. S, 4.13%, 10/03/2038	EUR	100		115
Adif Alta Velocidad, (Spain),
Reg. S, 0.55%, 04/30/2030	EUR	100		92
Reg. S, 0.95%, 04/30/2027	EUR	200		201
Reg. S, 3.25%, 05/31/2029	EUR	800		860
Reg. S, 3.50%, 07/30/2029	EUR	200		218
Reg. S, 3.65%, 04/30/2034	EUR	100		108
Agence Francaise de Developpement EPIC, (France),
Reg. S, 0.13%, 09/29/2031	EUR	300		260
Reg. S, 0.25%, 07/21/2026	EUR	1,100		1,109
Reg. S, 0.25%, 06/29/2029	EUR	400		373
Reg. S, 0.38%, 05/25/2036	EUR	100		77
Reg. S, 0.50%, 05/25/2030	EUR	200		185
Reg. S, 0.50%, 05/31/2035	EUR	500		405
Reg. S, 1.50%, 10/31/2034	EUR	900		830
Reg. S, 1.63%, 05/25/2032	EUR	200		193
Reg. S, 3.38%, 05/25/2033	EUR	500		549
Reg. S, 3.50%, 02/25/2033	EUR	100		111
Agence France Locale, (France),
Reg. S, 0.00%, 09/20/2027	EUR	500		484
Reg. S, 0.00%, 03/20/2031	EUR	100		87
Reg. S, 0.13%, 06/20/2026	EUR	400		402
Reg. S, 1.13%, 06/20/2028	EUR	1,000		995
Reg. S, 3.00%, 03/20/2030	EUR	300		321
Reg. S, 3.13%, 03/20/2034	EUR	100		106
Reg. S, 3.63%, 06/20/2038	EUR	100		110
Agricultural Development Bank of China, (China),
2.91%, 02/21/2029	CNY	18,000		2,542
Reg. S, 3.40%, 11/06/2024	CNH	56,000		7,746
Reg. S, 3.80%, 10/27/2030	CNH	14,350		2,101
Series 1618, 3.58%, 04/22/2026	CNY	24,000		3,413
Series 1806, 4.65%, 05/11/2028	CNY	8,100		1,220

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 1901, 3.75%, 01/25/2029	CNY	82,700		12,141
Series 1906, 3.74%, 07/12/2029	CNY	46,100		6,791
Series 1908, 3.63%, 07/19/2026	CNY	183,200		26,125
Series 2004, 2.96%, 04/17/2030	CNY	94,300		13,403
Series 2005, 2.25%, 04/22/2025	CNY	85,800		11,897
Series 2008, 3.45%, 09/23/2025	CNY	17,000		2,398
Series 2010, 3.79%, 10/26/2030	CNY	5,000		746
Series 2105, 3.52%, 05/24/2031	CNY	38,600		5,691
Series 2108, 2.99%, 08/11/2026	CNY	66,000		9,295
Series 2110, 3.30%, 11/05/2031	CNY	70,800		10,319
Series 2202, 2.74%, 02/23/2027	CNY	9,800		1,375
Series 2205, 3.06%, 06/06/2032	CNY	61,400		8,822
Series 2206, 2.46%, 07/27/2025	CNY	6,000		834
Series 2207, 2.50%, 08/24/2027	CNY	60,000		8,353
Series 2210, 2.97%, 10/14/2032	CNY	56,500		8,073
Series 2212, 2.60%, 12/01/2025	CNY	7,200		1,004
Series 2302, 2.58%, 03/23/2025	CNY	8,000		1,113
Series 2302, 3.10%, 02/27/2033	CNY	24,000		3,467
Series 2304, 2.72%, 03/16/2026	CNY	3,200		448
Series 2313, 2.35%, 09/07/2026	CNY	6,000		833
Series 2320, 2.85%, 10/20/2033	CNY	20,000		2,839
Andorra International Bond, (Andorra),
Reg. S, 1.25%, 02/23/2027	EUR	800		803
Reg. S, 1.25%, 05/06/2031	EUR	1,000		918
Auckland Council, (New Zealand),
Reg. S, 0.13%, 09/26/2029	EUR	200		185
Reg. S, 0.25%, 11/17/2031	EUR	200		176
Reg. S, 1.00%, 01/19/2027	EUR	300		306
Reg. S, 1.50%, 11/28/2025	CHF	300		333
Australia Government Bond, (Australia),
Series 136, Reg. S, 4.75%, 04/21/2027	AUD	100		67
Series 138, Reg. S, 3.25%, 04/21/2029	AUD	200		128
Series 139, Reg. S, 3.25%, 04/21/2025	AUD	1,475		954
Series 144, Reg. S, 3.75%, 04/21/2037	AUD	60		38
Series 147, Reg. S, 3.25%, 06/21/2039	AUD	50		29
Series 149, Reg. S, 2.25%, 05/21/2028	AUD	1,340		828
Series 150, Reg. S, 3.00%, 03/21/2047	AUD	46		24
Series 152, Reg. S, 2.75%, 11/21/2028	AUD	428		269
Series 154, Reg. S, 2.75%, 11/21/2029	AUD	105		65
Series 155, Reg. S, 2.50%, 05/21/2030	AUD	3,465		2,106
Series 156, Reg. S, 2.75%, 05/21/2041	AUD	450		240
Series 157, Reg. S, 1.50%, 06/21/2031	AUD	100		56
Series 158, 1.25%, 05/21/2032	AUD	290		154
Series 160, Reg. S, 1.00%, 12/21/2030	AUD	200		109
Series 161, Reg. S, 0.25%, 11/21/2025	AUD	490		302
Series 162, Reg. S, 1.75%, 06/21/2051	AUD	360		138
Series 164, Reg. S, 0.50%, 09/21/2026	AUD	100		60
Series 165, Reg. S, 1.75%, 11/21/2032	AUD	220		121
Series 166, Reg. S, 3.00%, 11/21/2033	AUD	170		102
Series 167, Reg. S, 3.75%, 05/21/2034	AUD	40		26
Series 168, Reg. S, 3.50%, 12/21/2034	AUD	60		37
Series 169, Reg. S, 4.75%, 06/21/2054	AUD	30		21

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Autobahnen- und Schnell- strassen-Finanzierungs AG, (Austria),
Reg. S, 0.10%, 07/09/2029	EUR	500		470
Reg. S, 2.75%, 06/11/2032	EUR	100		108
Reg. S, 2.75%, 06/20/2033	EUR	130		139
Autonomous Community of Andalusia Spain, (Spain),
Reg. S, 0.50%, 04/30/2031	EUR	363		324
Reg. S, 1.38%, 04/30/2029	EUR	30		30
Reg. S, 3.40%, 04/30/2034	EUR	100		107
Autonomous Community of Catalonia, (Spain), 4.22%, 04/26/2035	EUR	100		109
Autonomous Community of Madrid Spain, (Spain),
Reg. S, 0.42%, 04/30/2030	EUR	161		148
Reg. S, 1.57%, 04/30/2029	EUR	200		201
Reg. S, 1.72%, 04/30/2032	EUR	110		106
Reg. S, 1.77%, 04/30/2028	EUR	200		205
Reg. S, 1.83%, 04/30/2025	EUR	270		286
Reg. S, 2.82%, 10/31/2029	EUR	100		107
Reg. S, 3.60%, 04/30/2033	EUR	200		221
4.30%, 09/15/2026	EUR	500		552
Bangko Sentral ng Pilipinas International Bond, (Philippines), Series A, 8.60%, 06/15/2027		300		325
Basque Government, (Spain),
Reg. S, 0.25%, 04/30/2031	EUR	100		89
Reg. S, 0.45%, 04/30/2032	EUR	200		175
Reg. S, 0.85%, 04/30/2030	EUR	50		48
Reg. S, 1.75%, 03/16/2026	EUR	170		178
Reg. S, 3.50%, 04/30/2033	EUR	100		110
Bermuda Government International Bond, (Bermuda), 2.38%, 08/20/2030 (e)		670		559
BNG Bank NV, (Netherlands),
Reg. S, 0.00%, 01/20/2031	EUR	200		178
Reg. S, 0.10%, 01/15/2030	EUR	320		296
Reg. S, 0.13%, 04/11/2026	EUR	530		540
Reg. S, 0.13%, 04/19/2033	EUR	700		593
Reg. S, 0.13%, 07/09/2035	EUR	230		183
Reg. S, 0.38%, 12/15/2025	GBP	1,900		2,229
Reg. S, 0.75%, 01/11/2028	EUR	500		500
Reg. S, 0.81%, 06/28/2049	EUR	200		127
Reg. S, 0.88%, 10/17/2035	EUR	100		87
Reg. S, 0.88%, 10/24/2036	EUR	160		135
Reg. S, 1.25%, 03/30/2037	EUR	100		87
Reg. S, 1.50%, 03/29/2038	EUR	190		168
Reg. S, 1.50%, 07/15/2039	EUR	170		147
Reg. S, 1.88%, 07/13/2032	EUR	320		322
Reg. S, 2.75%, 10/04/2027	EUR	1,910		2,057
Reg. S, 2.75%, 01/11/2034	EUR	100		107
Reg. S, 3.00%, 02/23/2028	EUR	600		652
Reg. S, 3.00%, 01/11/2033	EUR	500		545
Reg. S, 3.50%, 09/27/2038	EUR	100		112
Bonos de la Tesoreria de la Republica en pesos, (Chile), Reg. S, 4.70%, 09/01/2030 (e)	CLP	300,000		290
Bpifrance SACA, (France),
Reg. S, 0.25%, 03/29/2030	EUR	200		184
Reg. S, 0.25%, 06/04/2031	EUR	200		178

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 0.63%, 05/25/2026	EUR	500		511
Reg. S, 0.88%, 09/26/2028	EUR	200		196
Reg. S, 2.13%, 11/29/2027	EUR	200		209
Reg. S, 2.88%, 11/25/2029	EUR	500		536
Reg. S, 3.00%, 09/10/2026	EUR	200		215
Reg. S, 3.38%, 11/25/2032	EUR	200		222
Reg. S, 3.50%, 09/27/2027	EUR	200		219
Bulgaria Government International Bond, (Bulgaria),
Reg. S, 1.38%, 09/23/2050	EUR	1,300		878
Reg. S, 2.63%, 03/26/2027	EUR	3,000		3,187
Reg. S, 2.95%, 09/03/2024	EUR	800		858
Reg. S, 4.13%, 09/23/2029	EUR	1,000		1,118
Reg. S, 4.50%, 01/27/2033	EUR	6,000		6,876
Reg. S, 4.63%, 09/23/2034	EUR	1,000		1,158
Series 12YR, Reg. S, 3.00%, 03/21/2028	EUR	800		856
Bundesobligation, (Germany),
Series 181, Reg. S, 0.00%, 04/11/2025	EUR	4,790		4,998
Series 183, Reg. S, 0.00%, 04/10/2026	EUR	8,166		8,338
Series 184, Reg. S, 0.00%, 10/09/2026	EUR	1,390		1,405
Series 185, Reg. S, 0.00%, 04/16/2027	EUR	2,083		2,084
Series 186, Reg. S, 1.30%, 10/15/2027	EUR	250		260
Series 187, Reg. S, 2.20%, 04/13/2028	EUR	3,120		3,342
Series 188, Reg. S, 2.40%, 10/19/2028	EUR	650		703
Series 189, Reg. S, 2.10%, 04/12/2029	EUR	1,200		1,281
Bundesrepublik Deutschland Bundesanleihe, (Germany),
Reg. S, 0.00%, 08/15/2026	EUR	3,270		3,316
Reg. S, 0.00%, 11/15/2027	EUR	7,381		7,303
Reg. S, 0.00%, 11/15/2028	EUR	1,385		1,345
Reg. S, 0.00%, 08/15/2029	EUR	3,032		2,902
Reg. S, 0.00%, 02/15/2030	EUR	7,293		6,907
Reg. S, 0.00%, 08/15/2030	EUR	1,540		1,444
Reg. S, 0.00%, 02/15/2031	EUR	1,739		1,613
Reg. S, 0.00%, 08/15/2031	EUR	3,460		3,177
Reg. S, 0.00%, 02/15/2032	EUR	4,944		4,485
Reg. S, 0.00%, 05/15/2035	EUR	24,209		20,192
Reg. S, 0.00%, 05/15/2036	EUR	25,960		21,061
Reg. S, 0.00%, 08/15/2050	EUR	39,971		22,987
Reg. S, 0.00%, 08/15/2052	EUR	30,895		16,969
Reg. S, 0.25%, 02/15/2027	EUR	3,310		3,348
Reg. S, 0.25%, 08/15/2028	EUR	2,899		2,862
Reg. S, 0.25%, 02/15/2029	EUR	2,000		1,958
Reg. S, 0.50%, 02/15/2026	EUR	2,447		2,530
Reg. S, 0.50%, 08/15/2027	EUR	3,830		3,876
Reg. S, 0.50%, 02/15/2028	EUR	6,910		6,944
Reg. S, 1.00%, 08/15/2025	EUR	4,291		4,501
Reg. S, 1.00%, 05/15/2038	EUR	25,152		22,500
Reg. S, 1.25%, 08/15/2048	EUR	38,615		32,565
Reg. S, 1.70%, 08/15/2032	EUR	2,310		2,391

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 1.80%, 08/15/2053	EUR	28,410		26,521
Reg. S, 2.10%, 11/15/2029	EUR	180		192
Reg. S, 2.20%, 02/15/2034	EUR	1,340		1,434
Reg. S, 2.30%, 02/15/2033	EUR	9,110		9,863
Reg. S, 2.40%, 11/15/2030	EUR	1,660		1,805
Reg. S, 2.50%, 07/04/2044	EUR	30,305		32,756
Reg. S, 2.50%, 08/15/2046	EUR	33,393		36,177
Reg. S, 2.50%, 08/15/2054	EUR	11,470		12,489
Reg. S, 2.60%, 08/15/2033	EUR	930		1,030
Reg. S, 3.25%, 07/04/2042	EUR	21,896		26,259
Reg. S, 4.00%, 01/04/2037	EUR	27,283		34,536
Reg. S, 4.25%, 07/04/2039	EUR	19,513		25,796
Reg. S, 4.75%, 07/04/2034	EUR	24,791		32,619
Reg. S, 4.75%, 07/04/2040	EUR	21,404		30,082
Reg. S, 5.50%, 01/04/2031	EUR	300		388
Reg. S, 5.63%, 01/04/2028	EUR	780		936
Reg. S, 6.25%, 01/04/2030	EUR	1,025		1,337
Reg. S, 6.50%, 07/04/2027	EUR	1,210		1,464
Series G, Reg. S, 0.00%, 08/15/2030	EUR	1,320		1,239
Series G, Reg. S, 0.00%, 08/15/2031	EUR	2,910		2,671
Series G, Reg. S, 0.00%, 08/15/2050	EUR	11,352		6,548
Series G, Reg. S, 1.80%, 08/15/2053	EUR	8,305		7,764
Series G, Reg. S, 2.30%, 02/15/2033	EUR	1,850		2,003
Bundesschatzanweisungen, (Germany), Series 2Y, Reg. S, 3.10%, 12/12/2025	EUR	1,130		1,222
Caisse d'Amortissement de la Dette Sociale, (France),
Reg. S, 0.00%, 02/25/2028	EUR	200		193
Reg. S, 0.00%, 05/25/2029	EUR	500		467
Reg. S, 0.00%, 11/25/2030	EUR	400		359
Reg. S, 0.00%, 05/25/2031	EUR	400		353
Reg. S, 0.13%, 09/15/2031	EUR	300		266
Reg. S, 0.45%, 01/19/2032	EUR	400		360
Reg. S, 0.60%, 11/25/2029	EUR	600		572
Reg. S, 1.50%, 05/25/2032	EUR	400		390
Reg. S, 1.75%, 11/25/2027	EUR	700		726
Reg. S, 2.75%, 09/24/2027	EUR	400		429
Reg. S, 2.75%, 02/25/2029	EUR	400		429
Reg. S, 2.75%, 11/25/2032	EUR	400		428
Reg. S, 2.88%, 05/25/2027	EUR	700		754
Reg. S, 3.00%, 05/25/2028	EUR	800		867
Reg. S, 3.00%, 11/25/2031	EUR	600		653
Reg. S, 3.13%, 03/01/2030	EUR	700		767
Reg. S, 4.00%, 12/15/2025	EUR	1,383		1,508
Caisse des Depots et Consignations, (France),
Reg. S, 3.00%, 05/25/2028	EUR	100		108
Reg. S, 3.13%, 05/25/2033	EUR	200		219
Caisse Francaise de Financement Local, (France),
Reg. S, 0.01%, 05/07/2025	EUR	100		104
Reg. S, 0.13%, 06/30/2031	EUR	100		88
Reg. S, 0.38%, 06/23/2025	EUR	100		104
Reg. S, 0.50%, 01/19/2026	EUR	100		103
Reg. S, 0.50%, 10/01/2046	EUR	100		63

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 1.00%, 04/25/2028	EUR	100		100
Reg. S, 1.25%, 05/11/2032	EUR	100		94
Reg. S, 1.50%, 06/28/2038	EUR	100		88
Reg. S, 3.00%, 10/02/2028	EUR	5,000		5,395
Canadian Government Bond, (Canada),
1.00%, 06/01/2027	CAD	200		136
1.25%, 03/01/2025	CAD	1,115		799
1.50%, 06/01/2031	CAD	600		389
1.75%, 12/01/2053	CAD	400		207
2.00%, 06/01/2032	CAD	600		397
2.00%, 12/01/2051	CAD	530		295
3.50%, 03/01/2028	CAD	500		368
3.50%, 12/01/2045	CAD	2,090		1,566
4.00%, 06/01/2041	CAD	150		119
Canton of Zurich, (Switzerland), Reg. S, 0.10%, 06/23/2045	CHF	50		44
Cassa Depositi e Prestiti SpA, (Italy),
Reg. S, 1.00%, 09/21/2028	EUR	300		289
Reg. S, 2.00%, 04/20/2027	EUR	100		103
Reg. S, 3.88%, 02/13/2029	EUR	200		219
CDP Financial, Inc., (Canada),
Reg. S, 1.13%, 04/06/2027	EUR	7,000		7,128
5.60%, 11/25/2039 (e)		250		264
Chile Government International Bond, (Chile),
0.10%, 01/26/2027	EUR	5,000		4,888
0.83%, 07/02/2031	EUR	1,050		930
1.25%, 01/22/2051	EUR	6,900		4,169
1.30%, 07/26/2036	EUR	1,000		817
2.55%, 01/27/2032		200		169
2.55%, 07/27/2033		200		162
3.10%, 01/22/2061		510		321
3.50%, 01/31/2034		200		175
4.13%, 07/05/2034	EUR	4,047		4,366
China Development Bank, (China),
Reg. S, 2.95%, 07/19/2027	CNH	15,000		2,084
Reg. S, 3.23%, 11/27/2025	CNH	10,000		1,389
Reg. S, 4.20%, 01/19/2027	CNH	13,000		1,864
Reg. S, 4.30%, 08/02/2032	CNH	7,000		1,074
Reg. S, 4.35%, 08/06/2024	CNH	7,000		969
Reg. S, 4.35%, 09/19/2024	CNH	1,000		139
Reg. S, 4.50%, 11/13/2028	CNH	2,500		371
Series 1510, 4.21%, 04/13/2025	CNY	73,000		10,327
Series 1518, 3.74%, 09/10/2025	CNY	62,700		8,876
Series 1605, 3.80%, 01/25/2036	CNY	98,000		15,224
Series 1710, 4.04%, 04/10/2027	CNY	114,900		16,716
Series 1814, 4.15%, 10/26/2025	CNY	7,200		1,027
Series 1904, 3.68%, 02/26/2026	CNY	140,500		19,995
Series 1905, 3.48%, 01/08/2029	CNY	182,200		26,437
Series 1909, 3.50%, 08/13/2026	CNY	97,100		13,828
Series 1910, 3.65%, 05/21/2029	CNY	181,900		26,656
Series 1915, 3.45%, 09/20/2029	CNY	40,000		5,821

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2005, 3.07%, 03/10/2030	CNY	29,800		4,262
Series 2008, 2.89%, 06/22/2025	CNY	20,000		2,795
Series 2010, 3.09%, 06/18/2030	CNY	9,000		1,289
Series 2015, 3.70%, 10/20/2030	CNY	18,000		2,674
Series 2105, 3.66%, 03/01/2031	CNY	64,700		9,607
Series 2108, 2.83%, 09/10/2026	CNY	4,500		632
Series 2110, 3.41%, 06/07/2031	CNY	90,400		13,240
Series 2115, 3.12%, 09/13/2031	CNY	61,600		8,868
Series 2202, 2.59%, 03/17/2025	CNY	7,500		1,044
Series 2204, 2.99%, 03/01/2029	CNY	4,000		569
Series 2205, 3.00%, 01/17/2032	CNY	182,200		26,040
Series 2207, 2.22%, 08/25/2025	CNY	7,300		1,012
Series 2210, 2.98%, 04/22/2032	CNY	43,300		6,184
Series 2215, 2.96%, 07/18/2032	CNY	11,000		1,571
Series 2220, 2.77%, 10/24/2032	CNY	64,000		9,013
Series 2318, 2.35%, 10/16/2025	CNY	38,500		5,348
China Government Bond, (China),
1.99%, 04/09/2025	CNY	363,700		50,386
2.24%, 05/25/2025	CNY	25,000		3,472
2.28%, 11/25/2025	CNY	45,700		6,353
2.37%, 01/20/2027	CNY	250,000		34,823
2.44%, 10/15/2027	CNY	8,000		1,115
2.46%, 02/15/2026	CNY	195,000		27,187
2.48%, 04/15/2027	CNY	148,300		20,723
2.52%, 08/25/2033	CNY	20,000		2,790
2.60%, 09/01/2032	CNY	88,800		12,445
2.62%, 09/25/2029	CNY	44,000		6,175
2.68%, 05/21/2030	CNY	507,900		71,488
2.69%, 08/15/2032	CNY	18,300		2,582
Reg. S, 2.71%, 06/16/2033	CNH	11,000		1,533
2.75%, 06/15/2029	CNY	132,500		18,729
2.75%, 02/17/2032	CNY	181,300		25,673
2.76%, 05/15/2032	CNY	8,500		1,205
2.80%, 03/24/2029	CNY	250,300		35,463
2.80%, 03/25/2030	CNY	14,000		1,984
2.80%, 11/15/2032	CNY	56,600		8,056
Reg. S, 2.82%, 08/12/2032	CNY	10,000		1,413
2.85%, 06/04/2027	CNY	272,800		38,549
2.88%, 02/25/2033	CNY	21,700		3,112
2.89%, 11/18/2031	CNY	248,300		35,499
3.12%, 10/25/2052	CNY	49,700		7,515
3.19%, 04/15/2053	CNY	5,000		786
3.27%, 03/25/2073	CNY	109,170		17,432
Reg. S, 3.31%, 11/30/2025	CNH	2,000		280
3.32%, 04/15/2052	CNY	61,930		9,697
Reg. S, 3.38%, 11/21/2024	CNH	3,000		416
Reg. S, 3.38%, 07/04/2026	CNH	24,000		3,384
3.39%, 03/16/2050	CNY	82,540		12,954
3.53%, 10/18/2051	CNY	133,600		21,612

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 3.60%, 06/27/2028	CNH	26,500		3,822
Reg. S, 3.60%, 05/21/2030	CNH	8,500		1,242
3.72%, 04/12/2051	CNY	106,000		17,626
3.73%, 05/25/2070	CNY	18,670		3,278
3.81%, 09/14/2050	CNY	89,100		14,987
Reg. S, 3.85%, 12/12/2026	CNH	19,000		2,722
Reg. S, 3.90%, 07/04/2036	CNH	13,500		2,052
Reg. S, 4.00%, 05/22/2024	CNH	8,500		1,173
Reg. S, 4.00%, 11/30/2035	CNH	30,500		4,707
Reg. S, 4.15%, 12/04/2027	CNH	20,000		2,924
Reg. S, 4.15%, 12/12/2031	CNH	3,000		460
Reg. S, 4.29%, 05/22/2029	CNH	3,000		448
Reg. S, 4.40%, 12/12/2046	CNH	26,000		4,394
Series 1908, 4.00%, 06/24/2069	CNY	5,000		924
Series 2216, 2.50%, 07/25/2027	CNY	65,900		9,202
China Government International Bond, (China),
Reg. S, 0.13%, 11/12/2026	EUR	8,700		8,635
Reg. S, 0.50%, 11/12/2031	EUR	3,250		2,909
City of Milan Italy, (Italy), 4.02%, 06/29/2035	EUR	40		43
City of Montreal Canada, (Canada), 2.30%, 09/01/2029	CAD	600		406
City of Quebec Canada, (Canada),
2.10%, 07/06/2031	CAD	300		190
2.65%, 12/20/2027	CAD	565		396
City of Toronto Canada, (Canada),
2.60%, 09/24/2039	CAD	300		175
2.95%, 04/28/2035	CAD	200		129
Colombia Government International Bond, (Colombia), 9.85%, 06/28/2027	COP	500,000		125
Communaute Francaise de Belgique, (Belgium),
Reg. S, 1.63%, 05/03/2032	EUR	200		193
Reg. S, 3.75%, 06/22/2033	EUR	100		113
CPPIB Capital, Inc., (Canada),
Reg. S, 0.25%, 04/06/2027	EUR	2,550		2,534
Reg. S, 0.25%, 01/18/2041	EUR	2,500		1,672
Reg. S, 0.38%, 06/20/2024	EUR	300		321
Reg. S, 0.75%, 07/15/2049	EUR	600		385
Reg. S, 1.63%, 10/22/2071	GBP	2,000		1,063
Croatia Government International Bond, (Croatia),
Reg. S, 1.13%, 06/19/2029	EUR	300		293
Reg. S, 1.50%, 06/17/2031	EUR	770		740
Reg. S, 1.75%, 03/04/2041	EUR	500		408
Reg. S, 3.00%, 03/20/2027	EUR	300		322
Cyprus Government International Bond, (Cyprus),
Reg. S, 0.63%, 12/03/2024	EUR	347		366
Reg. S, 0.63%, 01/21/2030	EUR	235		221
Reg. S, 0.95%, 01/20/2032	EUR	300		277
Reg. S, 1.25%, 01/21/2040	EUR	720		552
Reg. S, 2.25%, 04/16/2050	EUR	10		8
Reg. S, 4.13%, 04/13/2033	EUR	360		416

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Czech Republic Government Bond, (Czech Republic),
Series 49, Reg. S, 4.20%, 12/04/2036	CZK	5,390		234
Series 53, Reg. S, 4.85%, 11/26/2057	CZK	2,340		111
Series 78, Reg. S, 2.50%, 08/25/2028	CZK	16,760		679
Series 89, Reg. S, 2.40%, 09/17/2025	CZK	16,910		706
Series 94, Reg. S, 0.95%, 05/15/2030	CZK	17,380		627
Series 95, Reg. S, 1.00%, 06/26/2026	CZK	6,860		274
Series 100, 0.25%, 02/10/2027	CZK	60,340		2,332
Series 103, 2.00%, 10/13/2033	CZK	20,000		724
Series 105, 2.75%, 07/23/2029	CZK	5,810		236
Series 121, 1.20%, 03/13/2031	CZK	27,250		977
Series 125, 1.50%, 04/24/2040	CZK	8,640		259
Series 130, 0.05%, 11/29/2029	CZK	13,030		452
Series 138, 1.75%, 06/23/2032	CZK	20,400		738
Series 142, 1.95%, 07/30/2037	CZK	12,960		435
Series 148, 6.00%, 02/26/2026	CZK	5,910		262
Series 149, 5.50%, 12/12/2028	CZK	10,640		488
Series 150, 5.00%, 09/30/2030	CZK	4,140		188
Series 151, 4.90%, 04/14/2034	CZK	4,610		211
Denmark Government Bond, (Denmark),
0.25%, 11/15/2052	DKK	5,921		474
0.50%, 11/15/2027	DKK	5,478		740
0.50%, 11/15/2029	DKK	13,494		1,771
1.75%, 11/15/2025	DKK	5,460		776
4.50%, 11/15/2039	DKK	10,830		1,968
7.00%, 11/10/2024	DKK	1,470		217
Series G, 0.00%, 11/15/2031	DKK	960		117
Series G, 2.25%, 11/15/2033	DKK	3,650		524
Series TWIN, 0.00%, 11/15/2031	DKK	8,157		997
Development Bank of Japan, Inc., (Japan),
Reg. S, 0.88%, 10/10/2025	EUR	1,000		1,038
Reg. S, 2.13%, 09/01/2026	EUR	1,000		1,051
4.75%, 11/26/2027	EUR	900		1,027
Series 86, 0.24%, 10/13/2027	JPY	100,000		657
Estonia Government International Bond, (Estonia), Reg. S, 0.13%, 06/10/2030	EUR	200		180
European Financial Stability Facility, (Luxembourg),
Reg. S, 0.00%, 10/13/2027	EUR	4,325		4,232
Reg. S, 0.00%, 01/20/2031	EUR	9,600		8,629
Reg. S, 0.05%, 10/17/2029	EUR	9,000		8,392
Reg. S, 0.05%, 01/18/2052	EUR	1,000		479
Reg. S, 0.40%, 02/17/2025	EUR	1,000		1,051
Reg. S, 0.63%, 10/16/2026	EUR	100		102
Reg. S, 0.70%, 01/20/2050	EUR	2,500		1,587
Reg. S, 0.70%, 01/17/2053	EUR	10,000		5,965
Reg. S, 0.75%, 05/03/2027	EUR	15,000		15,218
Reg. S, 0.88%, 04/10/2035	EUR	15,900		13,953
Reg. S, 1.20%, 02/17/2045	EUR	2,325		1,810
Reg. S, 1.38%, 05/31/2047	EUR	10,000		7,883
Reg. S, 1.45%, 09/05/2040	EUR	10,370		8,937

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 1.70%, 02/13/2043	EUR	1,900		1,662
Reg. S, 1.75%, 07/17/2053	EUR	2,050		1,651
Reg. S, 2.00%, 02/28/2056	EUR	2,000		1,693
Reg. S, 2.38%, 04/11/2028	EUR	15,000		15,934
Reg. S, 2.38%, 06/21/2032	EUR	5,000		5,244
Reg. S, 2.75%, 08/17/2026	EUR	15,000		16,104
Reg. S, 2.75%, 12/03/2029	EUR	1,020		1,103
Reg. S, 2.88%, 02/13/2034	EUR	10,000		10,846
Reg. S, 3.00%, 12/15/2028	EUR	1,000		1,090
Reg. S, 3.38%, 04/03/2037	EUR	3,000		3,383
European Stability Mechanism, (Supranational),
Reg. S, 0.00%, 12/15/2026	EUR	10,000		9,992
Reg. S, 0.01%, 03/04/2030	EUR	2,900		2,676
Reg. S, 0.01%, 10/15/2031	EUR	7,900		6,993
Reg. S, 0.50%, 03/02/2026	EUR	5,600		5,765
Reg. S, 0.50%, 03/05/2029	EUR	6,000		5,825
Reg. S, 0.75%, 09/05/2028	EUR	2,750		2,725
Reg. S, 0.88%, 07/18/2042	EUR	1,020		763
Reg. S, 1.00%, 06/23/2027	EUR	5,000		5,095
Reg. S, 1.75%, 10/20/2045	EUR	1,050		907
Reg. S, 1.80%, 11/02/2046	EUR	10,420		9,058
Reg. S, 1.85%, 12/01/2055	EUR	180		145
European Union, (Supranational),
Reg. S, 0.00%, 07/06/2026	EUR	10,350		10,474
Reg. S, 0.00%, 10/04/2028	EUR	2,300		2,198
Reg. S, 0.00%, 04/22/2031	EUR	5,800		5,193
Reg. S, 0.00%, 07/04/2031	EUR	20,000		17,768
Reg. S, 0.25%, 04/22/2036	EUR	21,900		17,328
Reg. S, 0.40%, 02/04/2037	EUR	10,000		7,915
Reg. S, 0.45%, 07/04/2041	EUR	19,800		13,797
Reg. S, 0.50%, 04/04/2025	EUR	3,575		3,751
Reg. S, 0.70%, 07/06/2051	EUR	5,900		3,527
Reg. S, 0.75%, 04/04/2031	EUR	3,925		3,715
Reg. S, 1.00%, 07/06/2032	EUR	5,800		5,459
Reg. S, 1.13%, 04/04/2036	EUR	1,265		1,125
Reg. S, 1.25%, 02/04/2043	EUR	20,000		15,860
Reg. S, 1.38%, 10/04/2029	EUR	8,000		8,053
Reg. S, 1.50%, 10/04/2035	EUR	5,000		4,678
Reg. S, 1.63%, 12/04/2029	EUR	31,600		32,163
Reg. S, 2.50%, 10/04/2052	EUR	33,000		30,674
Reg. S, 2.63%, 02/04/2048	EUR	16,000		15,716
Reg. S, 2.75%, 10/05/2026	EUR	20,000		21,495
Reg. S, 3.00%, 12/04/2034	EUR	10,000		10,876
Reg. S, 3.00%, 03/04/2053	EUR	8,000		8,219
Reg. S, 3.13%, 12/05/2028	EUR	30,000		32,890
Reg. S, 3.25%, 02/04/2050	EUR	10,000		10,852
Reg. S, 3.38%, 04/04/2032	EUR	1,200		1,357

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 3.38%, 04/04/2038	EUR	15,000		16,887
Reg. S, 3.38%, 10/04/2038	EUR	10,000		11,140
Reg. S, 3.38%, 11/04/2042	EUR	20,000		22,115
Reg. S, 3.75%, 04/04/2042	EUR	5,015		5,883
Series SURE, Reg. S, 0.00%, 11/04/2025	EUR	5,198		5,341
Series SURE, Reg. S, 0.00%, 06/02/2028	EUR	5,000		4,826
Series SURE, Reg. S, 0.00%, 10/04/2030	EUR	10,000		9,091
Series SURE, Reg. S, 0.00%, 07/04/2035	EUR	10,800		8,475
Series SURE, Reg. S, 0.10%, 10/04/2040	EUR	7,675		5,187
Series SURE, Reg. S, 0.20%, 06/04/2036	EUR	9,600		7,525
Series SURE, Reg. S, 0.30%, 11/04/2050	EUR	1,220		668
Series SURE, Reg. S, 0.45%, 05/02/2046	EUR	5,000		3,166
Series SURE, Reg. S, 0.75%, 01/04/2047	EUR	5,000		3,387
Series SURE, Reg. S, 1.13%, 06/04/2037	EUR	5,000		4,322
Export Development Canada, (Canada),
Reg. S, 0.50%, 02/25/2027	EUR	2,000		2,013
Reg. S, 2.88%, 01/19/2028	EUR	10,000		10,797
Export-Import Bank of China (The), (China),
Series 1514, 3.87%, 09/14/2025	CNY	29,000		4,112
Series 1603, 3.33%, 02/22/2026	CNY	15,000		2,120
Series 1910, 3.86%, 05/20/2029	CNY	97,800		14,463
Series 2005, 2.93%, 03/02/2025	CNY	61,600		8,598
Series 2007, 3.26%, 02/24/2027	CNY	86,000		12,237
Series 2010, 3.23%, 03/23/2030	CNY	39,400		5,681
Series 2011, 3.74%, 11/16/2030	CNY	10,000		1,489
Series 2015, 3.43%, 10/23/2025	CNY	71,000		10,018
Series 2110, 3.38%, 07/16/2031	CNY	4,000		585
Series 2203, 2.57%, 06/10/2025	CNY	13,000		1,809
Series 2207, 2.74%, 09/05/2029	CNY	8,200		1,151
Series 2210, 3.18%, 03/11/2032	CNY	123,600		17,892
Series 2211, 2.90%, 08/19/2032	CNY	63,000		8,952
Series 2213, 2.64%, 12/05/2025	CNY	7,900		1,102
Series 2215, 2.82%, 06/17/2027	CNY	27,300		3,838
Series 2303, 2.64%, 04/14/2026	CNY	7,100		992
Series 2310, 3.10%, 02/13/2033	CNY	28,900		4,175
Export-Import Bank of Korea, (South Korea),
3.63%, 09/18/2027	EUR	500		545
5.13%, 09/18/2033		230		235
Reg. S, 8.00%, 05/15/2024	IDR	400,000		25
Finland Government Bond, (Finland),
Reg. S, 0.00%, 09/15/2026 (e)	EUR	350		352
Reg. S, 0.00%, 09/15/2030 (e)	EUR	130		118
Reg. S, 0.13%, 09/15/2031 (e)	EUR	755		675
Reg. S, 0.13%, 04/15/2052 (e)	EUR	800		412
Reg. S, 0.25%, 09/15/2040 (e)	EUR	384		268
Reg. S, 0.50%, 04/15/2026 (e)	EUR	1,440		1,480

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 0.50%, 09/15/2027 (e)	EUR	660		660
Reg. S, 0.50%, 09/15/2028 (e)	EUR	484		475
Reg. S, 0.50%, 09/15/2029 (e)	EUR	80		77
Reg. S, 0.50%, 04/15/2043 (e)	EUR	450		312
Reg. S, 0.75%, 04/15/2031 (e)	EUR	321		304
Reg. S, 0.88%, 09/15/2025 (e)	EUR	430		450
Reg. S, 1.13%, 04/15/2034 (e)	EUR	421		388
Reg. S, 1.38%, 04/15/2027 (e)	EUR	160		166
Reg. S, 1.50%, 09/15/2032 (e)	EUR	1,300		1,273
Reg. S, 2.63%, 07/04/2042 (e)	EUR	675		691
Reg. S, 2.75%, 07/04/2028 (e)	EUR	960		1,038
Reg. S, 2.75%, 04/15/2038 (e)	EUR	540		568
Reg. S, 2.95%, 04/15/2055 (e)	EUR	110		118
Reg. S, 3.00%, 09/15/2033 (e)	EUR	620		680
Reg. S, 4.00%, 07/04/2025 (e)	EUR	780		850
Series 30Y, Reg. S, 1.38%, 04/15/2047 (e)	EUR	717		571
Finnvera OYJ, (Finland),
Reg. S, 0.38%, 04/09/2029	EUR	300		288
Reg. S, 0.75%, 08/07/2028	EUR	1,000		993
Reg. S, 2.13%, 03/08/2028	EUR	300		316
Fondo De Titulizacion Del Deficit Del Sistema Electrico FTA, (Spain), Reg. S, 0.01%, 09/17/2025	EUR	100		103
Free and Hanseatic City of Hamburg, (Germany),
Reg. S, 0.00%, 04/07/2026	EUR	280		284
Reg. S, 0.01%, 06/30/2028	EUR	180		173
0.01%, 11/05/2035	EUR	70		55
Reg. S, 0.20%, 09/03/2049	EUR	70		38
Reg. S, 0.25%, 02/18/2041	EUR	394		271
Free State of Bavaria, (Germany), Reg. S, 0.01%, 01/18/2035	EUR	352		284
Free State of Saxony, (Germany),
Reg. S, 0.01%, 11/05/2029	EUR	197		183
Series 132, Reg. S, 0.01%, 12/17/2035	EUR	210		164
French Republic Government Bond OAT, (France),
Reg. S, 0.00%, 02/25/2026 (e)	EUR	8,580		8,760
Reg. S, 0.00%, 02/25/2027 (e)	EUR	4,305		4,293
Reg. S, 0.00%, 11/25/2029 (e)	EUR	9,655		9,000
Reg. S, 0.00%, 11/25/2030 (e)	EUR	5,760		5,226
Reg. S, 0.00%, 11/25/2031 (e)	EUR	5,604		4,942
Reg. S, 0.00%, 05/25/2032 (e)	EUR	2,440		2,119
Reg. S, 0.25%, 11/25/2026 (e)	EUR	4,076		4,117
Reg. S, 0.50%, 05/25/2025 (e)	EUR	6,943		7,256
Reg. S, 0.50%, 05/25/2026 (e)	EUR	3,759		3,858
Reg. S, 0.50%, 05/25/2029 (e)	EUR	4,497		4,360
Reg. S, 0.50%, 05/25/2040 (e)	EUR	23,473		17,062
Reg. S, 0.50%, 06/25/2044 (e)	EUR	16,370		10,747
Reg. S, 0.50%, 05/25/2072 (e)	EUR	10,193		4,344
Reg. S, 0.75%, 02/25/2028 (e)	EUR	9,480		9,509
Reg. S, 0.75%, 05/25/2028 (e)	EUR	7,363		7,358

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 0.75%, 11/25/2028 (e)	EUR	3,737		3,703
Reg. S, 0.75%, 05/25/2052 (e)	EUR	28,018		16,606
Reg. S, 0.75%, 05/25/2053 (e)	EUR	25,653		14,864
Reg. S, 1.00%, 11/25/2025 (e)	EUR	5,760		6,012
Reg. S, 1.00%, 05/25/2027 (e)	EUR	3,898		3,990
Reg. S, 1.25%, 05/25/2034 (e)	EUR	38,554		35,878
Reg. S, 1.25%, 05/25/2036 (e)	EUR	39,257		35,116
Reg. S, 1.25%, 05/25/2038 (e)	EUR	19,022		16,323
Reg. S, 1.50%, 05/25/2031 (e)	EUR	4,923		4,919
Reg. S, 1.50%, 05/25/2050 (e)	EUR	25,447		19,189
Reg. S, 1.75%, 06/25/2039 (e)	EUR	25,435		23,201
Reg. S, 1.75%, 05/25/2066 (e)	EUR	13,658		10,063
Reg. S, 2.00%, 11/25/2032 (e)	EUR	8,910		9,075
Reg. S, 2.00%, 05/25/2048 (e)	EUR	23,128		19,928
Reg. S, 2.50%, 09/24/2026 (e)	EUR	4,688		5,017
Reg. S, 2.50%, 05/25/2030 (e)	EUR	10,141		10,861
Reg. S, 2.50%, 05/25/2043 (e)	EUR	13,622		13,259
Reg. S, 2.75%, 10/25/2027 (e)	EUR	5,509		5,953
Reg. S, 2.75%, 02/25/2029 (e)	EUR	2,400		2,600
Reg. S, 3.00%, 05/25/2033 (e)	EUR	2,080		2,286
Reg. S, 3.00%, 06/25/2049 (e)	EUR	6,056		6,306
Reg. S, 3.00%, 05/25/2054 (e)	EUR	19,893		20,313
Reg. S, 3.25%, 05/25/2045 (e)	EUR	24,430		26,622
Reg. S, 3.25%, 05/25/2055 (e)	EUR	5,366		5,718
Reg. S, 3.50%, 04/25/2026 (e)	EUR	536		585
Reg. S, 3.50%, 11/25/2033 (e)	EUR	1,485		1,695
Reg. S, 4.00%, 10/25/2038 (e)	EUR	19,791		23,768
Reg. S, 4.00%, 04/25/2055 (e)	EUR	14,101		17,308
Reg. S, 4.00%, 04/25/2060 (e)	EUR	14,661		18,275
Reg. S, 4.50%, 04/25/2041 (e)	EUR	28,225		36,049
Reg. S, 4.75%, 04/25/2035 (e)	EUR	20,645		26,196
Reg. S, 5.50%, 04/25/2029 (e)	EUR	3,037		3,709
Reg. S, 5.75%, 10/25/2032 (e)	EUR	1,029		1,359
Reg. S, 6.00%, 10/25/2025 (e)	EUR	1,290		1,452
Gemeinsame Deutsche Bundeslaender, (Germany),
Series 58, Reg. S, 0.00%, 02/19/2027	EUR	220		219
Series 60, Reg. S, 0.01%, 02/04/2031	EUR	146		131
Series 62, Reg. S, 1.25%, 05/04/2029	EUR	580		583
Gestion Securite de Stocks Securite SA, (France),
Reg. S, 1.50%, 10/25/2027	EUR	1,000		1,018
Reg. S, 3.38%, 06/29/2030	EUR	300		328
Hellenic Republic Government Bond, (Greece),
Reg. S, 0.75%, 06/18/2031 (e)	EUR	1,750		1,600
Reg. S, 1.88%, 02/04/2035 (e)	EUR	1,400		1,289
Reg. S, 1.88%, 01/24/2052 (e)	EUR	230		169
Reg. S, 3.38%, 06/15/2034 (e)	EUR	380		410

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 3.75%, 01/30/2028	EUR	1,400		1,558
Reg. S, 3.88%, 03/12/2029 (e)	EUR	650		730
Reg. S, 4.20%, 01/30/2042	EUR	400		454
Reg. S, 4.25%, 06/15/2033 (e)	EUR	2,000		2,321
Reg. S, 4.38%, 07/18/2038 (e)	EUR	1,100		1,277
HM Treasury UK Sovereign Sukuk plc, (United Kingdom), Reg. S, 0.33%, 07/22/2026	GBP	900		1,039
Hong Kong Government Bond Programme, (Hong Kong), 1.97%, 01/17/2029	HKD	200		24
Hong Kong Government International Bond, (Hong Kong),
Reg. S, 2.80%, 11/30/2024	CNH	5,000		689
Reg. S, 2.95%, 06/07/2028	CNH	8,500		1,175
Reg. S, 3.00%, 11/30/2026	CNH	10,000		1,384
Reg. S, 3.30%, 06/07/2033	CNH	13,000		1,847
Hungary Government Bond, (Hungary),
Series 26/E, 1.50%, 04/22/2026	HUF	739,160		1,828
Series 26/D, 2.75%, 12/22/2026	HUF	80,210		198
Series 27/A, 3.00%, 10/27/2027	HUF	194,780		472
Series 28/B, 4.50%, 03/23/2028	HUF	73,760		186
Series 28/A, 6.75%, 10/22/2028	HUF	75,000		205
Series 29/A, 2.00%, 05/23/2029	HUF	200,000		438
Series 30/A, 3.00%, 08/21/2030	HUF	297,350		660
Series 32/A, 4.75%, 11/24/2032	HUF	58,400		140
Series 33/A, 2.25%, 04/20/2033	HUF	194,590		375
Series 34/A, 2.25%, 06/22/2034	HUF	100,520		187
Series 38/A, 3.00%, 10/27/2038	HUF	82,470		149
Series 41/A, 3.00%, 04/25/2041	HUF	27,170		47
Hungary Government International Bond, (Hungary),
Reg. S, 0.50%, 11/18/2030	EUR	1,000		857
Reg. S, 1.63%, 04/28/2032	EUR	1,000		882
Reg. S, 1.75%, 10/10/2027	EUR	825		833
Reg. S, 1.75%, 06/05/2035	EUR	5,000		4,137
Hydro-Quebec, (Canada),
6.00%, 02/15/2040	CAD	300		263
SUB, 8.40%, 03/28/2025		1,000		1,030
SUB, 8.91%, 11/18/2024		800		818
Series HH, 8.50%, 12/01/2029		100		117
Series HK, 9.38%, 04/15/2030		500		611
Ile-de-France Mobilites, (France),
Reg. S, 0.40%, 05/28/2031	EUR	300		270
Reg. S, 0.68%, 11/24/2036	EUR	100		79
Reg. S, 1.00%, 05/25/2034	EUR	300		264
Reg. S, 1.28%, 02/14/2042	EUR	100		76
Reg. S, 3.05%, 02/03/2033	EUR	100		107
Reg. S, 3.40%, 05/25/2043	EUR	100		106
Reg. S, 3.45%, 06/25/2049	EUR	100		107

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Indonesia Government International Bond, (Indonesia),
0.90%, 02/14/2027	EUR	11,102		11,032
1.10%, 03/12/2033	EUR	1,000		855
Reg. S, 2.15%, 07/18/2024	EUR	2,050		2,194
3.35%, 03/12/2071		200		133
Reg. S, 3.38%, 07/30/2025	EUR	7,000		7,480
Reg. S, 3.75%, 06/14/2028	EUR	1,000		1,081
4.65%, 09/20/2032		600		584
Indonesia Treasury Bond, (Indonesia),
Series 100, 6.63%, 02/15/2034	IDR	550,000		34
Series FR56, 8.38%, 09/15/2026	IDR	3,269,000		215
Series FR65, 6.63%, 05/15/2033	IDR	400,000		25
Series FR67, 8.75%, 02/15/2044	IDR	2,074,000		156
Series FR75, 7.50%, 05/15/2038	IDR	1,300,000		87
Series FR78, 8.25%, 05/15/2029	IDR	1,000,000		67
Series FR82, 7.00%, 09/15/2030	IDR	229,000		15
Series FR87, 6.50%, 02/15/2031	IDR	800,000		50
Series FR89, 6.88%, 08/15/2051	IDR	300,000		19
Series FR91, 6.38%, 04/15/2032	IDR	3,200,000		198
Series FR95, 6.38%, 08/15/2028	IDR	1,000,000		63
Series FR96, 7.00%, 02/15/2033	IDR	1,000,000		64
Industrial Bank of Korea, (South Korea), Reg. S, 0.02%, 07/16/2025	CHF	300		326
Instituto de Credito Oficial, (Spain),
Reg. S, 0.00%, 04/30/2027	EUR	1,000		984
Reg. S, 2.65%, 01/31/2028	EUR	100		106
International Bank for Reconstruction & Development, (Supranational),
0.00%, 01/15/2027	EUR	1,125		1,122
Zero Coupon, 07/15/2029		63		49
Zero Coupon, 10/31/2030		1,000		732
0.10%, 09/17/2035	EUR	11,475		9,087
Reg. S, 0.20%, 01/21/2061	EUR	1,000		415
0.25%, 09/23/2027	GBP	2,900		3,203
0.25%, 05/21/2029	EUR	600		572
0.38%, 07/28/2025		50		47
0.50%, 10/28/2025		2,100		1,964
0.50%, 06/21/2035	EUR	50		42
0.65%, 02/10/2026		750		695
Reg. S, 0.70%, 10/22/2046	EUR	2,000		1,353
1.00%, 12/21/2029	GBP	2,000		2,143
1.20%, 08/08/2034	EUR	9,000		8,324
1.63%, 01/15/2025		475		462
2.14%, 02/04/2041		500		319
(SOFR Compounded Index + 0.26%), 2.33%, 05/31/2026 (aa)		1,000		949
2.90%, 01/19/2033	EUR	7,000		7,636
Investitionsbank Schleswig-Holstein, (Germany),
Reg. S, 0.01%, 05/15/2026	EUR	100		101
Reg. S, 3.25%, 03/10/2031	EUR	300		334

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Ireland Government Bond, (Ireland),
Reg. S, 0.00%, 10/18/2031	EUR	1,577		1,402
Reg. S, 0.20%, 05/15/2027	EUR	1,290		1,290
Reg. S, 0.20%, 10/18/2030	EUR	1,111		1,029
Reg. S, 0.35%, 10/18/2032	EUR	290		259
Reg. S, 0.40%, 05/15/2035	EUR	300		251
Reg. S, 0.55%, 04/22/2041	EUR	385		283
Reg. S, 0.90%, 05/15/2028	EUR	412		416
Reg. S, 1.00%, 05/15/2026	EUR	720		748
Reg. S, 1.10%, 05/15/2029	EUR	1,387		1,392
Reg. S, 1.30%, 05/15/2033	EUR	1,230		1,182
Reg. S, 1.35%, 03/18/2031	EUR	365		364
Reg. S, 1.50%, 05/15/2050	EUR	1,163		914
Reg. S, 1.70%, 05/15/2037	EUR	800		754
Reg. S, 2.00%, 02/18/2045	EUR	685		628
Reg. S, 2.40%, 05/15/2030	EUR	1,000		1,068
Reg. S, 2.60%, 10/18/2034	EUR	350		372
Reg. S, 3.00%, 10/18/2043	EUR	740		805
Israel Government AID Bond, (Israel),
5.50%, 09/18/2033		25		27
Series 2, Zero Coupon, 11/01/2024		749		725
Israel Government Bond - Fixed, (Israel),
Series 142, 5.50%, 01/31/2042	ILS	290		87
Series 327, 2.00%, 03/31/2027	ILS	800		205
Series 330, 1.00%, 03/31/2030	ILS	1,200		273
Series 537, 1.50%, 05/31/2037	ILS	305		59
Israel Government International Bond, (Israel),
Reg. S, 0.63%, 01/18/2032	EUR	3,000		2,493
Reg. S, 1.50%, 01/18/2027	EUR	2,000		2,002
Reg. S, 2.50%, 01/16/2049	EUR	825		676
2.75%, 07/03/2030		400		344
Italy Buoni Poliennali Del Tesoro, (Italy),
Series 2Y, Reg. S, 3.60%, 09/29/2025	EUR	530		574
Series 3Y, Reg. S, 1.20%, 08/15/2025	EUR	500		524
Series 3Y, Reg. S, 3.50%, 01/15/2026	EUR	470		509
Series 3Y, Reg. S, 3.80%, 04/15/2026	EUR	3,000		3,273
Series 3Y, Reg. S, 3.85%, 09/15/2026	EUR	1,800		1,972
Series 5Y, Reg. S, 0.00%, 04/01/2026	EUR	4,060		4,111
Series 5Y, Reg. S, 0.00%, 08/01/2026	EUR	3,447		3,457
Series 5Y, Reg. S, 0.50%, 02/01/2026	EUR	5,270		5,411
Series 5Y, Reg. S, 1.10%, 04/01/2027	EUR	2,370		2,410
Series 5Y, Reg. S, 1.85%, 07/01/2025 (e)	EUR	2,080		2,202
Series 5Y, Reg. S, 2.65%, 12/01/2027	EUR	660		701
Series 5Y, Reg. S, 3.80%, 08/01/2028	EUR	450		498
Series 5Y, Reg. S, 4.10%, 02/01/2029	EUR	1,145		1,285
Series 7Y, Reg. S, 0.25%, 03/15/2028	EUR	7,600		7,332
Series 7Y, Reg. S, 0.45%, 02/15/2029	EUR	1,360		1,289
Series 7Y, Reg. S, 0.50%, 07/15/2028	EUR	4,074		3,938
Series 7Y, Reg. S, 0.95%, 09/15/2027	EUR	1,440		1,445
Series 7Y, Reg. S, 1.45%, 05/15/2025	EUR	2,813		2,970
Series 7Y, Reg. S, 2.50%, 11/15/2025	EUR	545		581

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 7Y, Reg. S, 2.80%, 06/15/2029	EUR	230		243
Series 7Y, Reg. S, 3.50%, 02/15/2031 (e)	EUR	850		924
Series 7Y, Reg. S, 3.70%, 06/15/2030	EUR	1,800		1,984
Series 7Y, Reg. S, 3.85%, 12/15/2029	EUR	1,500		1,669
Series 7Y, Reg. S, 4.00%, 11/15/2030	EUR	1,550		1,736
Series 8Y, Reg. S, 0.85%, 01/15/2027	EUR	4,975		5,045
Series 8Y, Reg. S, 0.85%, 01/15/2027 (e)	EUR	1,460		1,481
Series 8Y, Reg. S, 4.00%, 10/30/2031 (e)	EUR	1,770		1,988
Series 10Y, Reg. S, 0.60%, 08/01/2031 (e)	EUR	2,294		2,034
Series 10Y, Reg. S, 0.95%, 08/01/2030	EUR	910		851
Series 10Y, Reg. S, 0.95%, 12/01/2031 (e)	EUR	2,855		2,577
Series 10Y, Reg. S, 0.95%, 06/01/2032	EUR	3,305		2,941
Series 10Y, Reg. S, 1.25%, 12/01/2026	EUR	1,457		1,498
Series 10Y, Reg. S, 1.50%, 06/01/2025	EUR	1,620		1,710
Series 10Y, Reg. S, 1.60%, 06/01/2026	EUR	1,820		1,900
Series 10Y, Reg. S, 1.65%, 12/01/2030 (e)	EUR	124		120
Series 10Y, Reg. S, 2.00%, 02/01/2028	EUR	2,552		2,644
Series 10Y, Reg. S, 2.05%, 08/01/2027	EUR	3,580		3,735
Series 10Y, Reg. S, 2.20%, 06/01/2027	EUR	1,927		2,023
Series 10Y, Reg. S, 2.50%, 12/01/2032	EUR	5,610		5,613
Series 10Y, Reg. S, 2.80%, 12/01/2028	EUR	3,430		3,647
Series 10Y, Reg. S, 3.00%, 08/01/2029	EUR	1,946		2,080
Series 10Y, Reg. S, 3.85%, 07/01/2034	EUR	800		876
Series 10Y, Reg. S, 4.20%, 03/01/2034	EUR	1,950		2,203
Series 10Y, Reg. S, 4.35%, 11/01/2033	EUR	550		629
Series 10Y, Reg. S, 4.40%, 05/01/2033	EUR	3,290		3,786
Series 11Y, Reg. S, 0.90%, 04/01/2031	EUR	2,707		2,479
Series 11Y, Reg. S, 1.35%, 04/01/2030	EUR	3,150		3,047
Series 13Y, Reg. S, 4.00%, 04/30/2035 (e)	EUR	800		888
Series 15Y, Reg. S, 2.45%, 09/01/2033 (e)	EUR	2,770		2,729
Series 15Y, Reg. S, 4.15%, 10/01/2039 (e)	EUR	450		494
Series 15Y, Reg. S, 4.75%, 09/01/2028 (e)	EUR	1,720		1,977
Series 16Y, Reg. S, 0.95%, 03/01/2037 (e)	EUR	3,214		2,469
Series 16Y, Reg. S, 1.45%, 03/01/2036 (e)	EUR	2,229		1,876
Series 16Y, Reg. S, 3.25%, 03/01/2038 (e)	EUR	3,490		3,504
Series 16Y, Reg. S, 3.50%, 03/01/2030 (e)	EUR	6,136		6,711
Series 16Y, Reg. S, 4.50%, 03/01/2026 (e)	EUR	2,853		3,149
Series 17Y, Reg. S, 1.65%, 03/01/2032 (e)	EUR	2,246		2,130
Series 20Y, Reg. S, 2.25%, 09/01/2036 (e)	EUR	2,134		1,955
Series 20Y, Reg. S, 2.95%, 09/01/2038 (e)	EUR	2,822		2,728
Series 20Y, Reg. S, 4.45%, 09/01/2043 (e)	EUR	2,450		2,768
Series 21Y, Reg. S, 1.80%, 03/01/2041 (e)	EUR	3,104		2,454
Series 21Y, Reg. S, 3.10%, 03/01/2040 (e)	EUR	1,622		1,572
Series 26Y, Reg. S, 3.35%, 03/01/2035 (e)	EUR	2,660		2,779
Series 30Y, Reg. S, 2.15%, 09/01/2052 (e)	EUR	1,271		934
Series 30Y, Reg. S, 3.85%, 09/01/2049 (e)	EUR	1,670		1,733
Series 30Y, Reg. S, 4.50%, 10/01/2053 (e)	EUR	1,515		1,722
Series 30Y, Reg. S, 6.50%, 11/01/2027	EUR	890		1,070
Series 30Y, Reg. S, 7.25%, 11/01/2026	EUR	1,355		1,609

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 31Y, Reg. S, 1.70%, 09/01/2051 (e)	EUR	2,267		1,525
Series 31Y, Reg. S, 2.70%, 03/01/2047 (e)	EUR	1,350		1,167
Series 31Y, Reg. S, 3.25%, 09/01/2046 (e)	EUR	1,926		1,835
Series 31Y, Reg. S, 3.45%, 03/01/2048 (e)	EUR	2,815		2,754
Series 31Y, Reg. S, 4.00%, 02/01/2037 (e)	EUR	1,310		1,444
Series 31Y, Reg. S, 4.75%, 09/01/2044 (e)	EUR	2,205		2,598
Series 31Y, Reg. S, 5.00%, 08/01/2034 (e)	EUR	966		1,162
Series 31Y, Reg. S, 5.00%, 09/01/2040 (e)	EUR	560		675
Series 31Y, Reg. S, 5.25%, 11/01/2029	EUR	1,777		2,116
Series 31Y, Reg. S, 5.75%, 02/01/2033	EUR	1,260		1,584
Series 31Y, Reg. S, 6.00%, 05/01/2031	EUR	1,753		2,209
Series 32Y, Reg. S, 5.00%, 08/01/2039 (e)	EUR	1,323		1,595
Series 34Y, Reg. S, 1.50%, 04/30/2045 (e)	EUR	1,611		1,126
Series 50Y, Reg. S, 2.15%, 03/01/2072 (e)	EUR	680		461
Series 50Y, Reg. S, 2.80%, 03/01/2067 (e)	EUR	1,055		860
Series CAC, Reg. S, 2.45%, 09/01/2050 (e)	EUR	1,442		1,154
Japan Bank for International Cooperation, (Japan),
0.63%, 07/15/2025		500		472
3.13%, 02/15/2028	EUR	1,000		1,082
Japan Expressway Holding and Debt Repayment Agency, (Japan),
Series 37, 2.42%, 06/20/2028	JPY	100,000		715
Series 75, 1.96%, 09/19/2031	JPY	100,000		722
Series 271, 0.02%, 03/31/2026	JPY	30,000		197
Japan Finance Corp., (Japan), Series 57, 0.00%, 10/17/2025	JPY	20,000		132
Japan Finance Organization for Municipalities, (Japan),
Reg. S, 0.01%, 02/02/2028	EUR	400		384
Reg. S, 0.05%, 02/12/2027	EUR	500		494
Reg. S, 0.63%, 09/02/2025		1,000		937
Series 69, 0.48%, 02/28/2025	JPY	100,000		662
Series 2022, 2.32%, 06/18/2027	JPY	20,000		140
Japan Government Five Year Bond, (Japan),
Series 143, 0.10%, 03/20/2025	JPY	15,700		104
Series 144, 0.10%, 06/20/2025	JPY	347,000		2,293
Series 146, 0.10%, 12/20/2025	JPY	122,000		805
Series 148, 0.01%, 06/20/2026	JPY	459,750		3,025
Series 149, 0.01%, 09/20/2026	JPY	10,000		66
Series 150, 0.01%, 12/20/2026	JPY	77,150		507
Series 151, 0.01%, 03/20/2027	JPY	208,000		1,366
Series 153, 0.01%, 06/20/2027	JPY	459,600		3,015
Japan Government Forty Year Bond, (Japan),
Series 1, 2.40%, 03/20/2048	JPY	100,000		767
Series 3, 2.20%, 03/20/2050	JPY	505,350		3,721
Series 6, 1.90%, 03/20/2053	JPY	650		4
Series 7, 1.70%, 03/20/2054	JPY	7,050		46
Series 8, 1.40%, 03/20/2055	JPY	14,350		87
Series 9, 0.40%, 03/20/2056	JPY	17,800		79
Series 10, 0.90%, 03/20/2057	JPY	15,050		78
Series 11, 0.80%, 03/20/2058	JPY	5,000		25
Series 12, 0.50%, 03/20/2059	JPY	10,000		44
Series 13, 0.50%, 03/20/2060	JPY	8,000		35
Series 15, 1.00%, 03/20/2062	JPY	44,850		228
Series 16, 1.30%, 03/20/2063	JPY	3,700		21

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Ten Year Bond, (Japan),
Series 343, 0.10%, 06/20/2026	JPY	202,900		1,338
Series 344, 0.10%, 09/20/2026	JPY	131,500		867
Series 345, 0.10%, 12/20/2026	JPY	21,950		145
Series 349, 0.10%, 12/20/2027	JPY	59,700		392
Series 357, 0.10%, 12/20/2029	JPY	266,250		1,731
Series 358, 0.10%, 03/20/2030	JPY	90,300		586
Series 359, 0.10%, 06/20/2030	JPY	35,000		227
Series 360, 0.10%, 09/20/2030	JPY	53,450		346
Series 361, 0.10%, 12/20/2030	JPY	201,300		1,300
Series 362, 0.10%, 03/20/2031	JPY	10,000		64
Series 363, 0.10%, 06/20/2031	JPY	310,050		1,993
Series 364, 0.10%, 09/20/2031	JPY	265,000		1,698
Series 365, 0.10%, 12/20/2031	JPY	45,000		288
Series 366, 0.20%, 03/20/2032	JPY	465,100		2,990
Series 367, 0.20%, 06/20/2032	JPY	6,000		38
Series 368, 0.20%, 09/20/2032	JPY	59,250		379
Series 369, 0.50%, 12/20/2032	JPY	15,000		98
Series 370, 0.50%, 03/20/2033	JPY	16,250		106
Series 371, 0.40%, 06/20/2033	JPY	30,000		194
Series 372, 0.80%, 09/20/2033	JPY	32,000		214
Series 373, 0.60%, 12/20/2033	JPY	29,400		192
Japan Government Thirty Year Bond, (Japan),
Series 11, 1.70%, 06/20/2033	JPY	100,000		722
Series 21, 2.30%, 12/20/2035	JPY	704,850		5,395
Series 22, 2.50%, 03/20/2036	JPY	116,250		908
Series 24, 2.50%, 09/20/2036	JPY	46,950		368
Series 33, 2.00%, 09/20/2040	JPY	333,000		2,445
Series 34, 2.20%, 03/20/2041	JPY	23,000		173
Series 40, 1.80%, 09/20/2043	JPY	5,450		38
Series 44, 1.70%, 09/20/2044	JPY	14,000		96
Series 47, 1.60%, 06/20/2045	JPY	10,000		67
Series 61, 0.70%, 12/20/2048	JPY	2,550		14
Series 66, 0.40%, 03/20/2050	JPY	302,300		1,470
Series 67, 0.60%, 06/20/2050	JPY	50,000		256
Series 68, 0.60%, 09/20/2050	JPY	121,500		619
Series 71, 0.70%, 06/20/2051	JPY	118,600		615
Series 73, 0.70%, 12/20/2051	JPY	8,000		41
Series 74, 1.00%, 03/20/2052	JPY	114,000		635
Series 75, 1.30%, 06/20/2052	JPY	10,000		60
Series 76, 1.40%, 09/20/2052	JPY	3,000		18
Series 77, 1.60%, 12/20/2052	JPY	41,500		267
Series 78, 1.40%, 03/20/2053	JPY	6,000		37
Series 80, 1.80%, 09/20/2053	JPY	11,800		79
Series 81, 1.60%, 12/20/2053	JPY	10,000		64
Japan Government Twenty Year Bond, (Japan),
Series 80, 2.10%, 06/20/2025	JPY	517,000		3,499
Series 81, 2.00%, 09/20/2025	JPY	10,100		69
Series 105, 2.10%, 09/20/2028	JPY	214,950		1,531
Series 117, 2.10%, 03/20/2030	JPY	38,000		276
Series 118, 2.00%, 06/20/2030	JPY	6,800		49
Series 122, 1.80%, 09/20/2030	JPY	924,000		6,639

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 140, 1.70%, 09/20/2032	JPY	163,950		1,183
Series 142, 1.80%, 12/20/2032	JPY	10,900		79
Series 143, 1.60%, 03/20/2033	JPY	4,800		34
Series 148, 1.50%, 03/20/2034	JPY	55,550		394
Series 151, 1.20%, 12/20/2034	JPY	6,500		45
Series 153, 1.30%, 06/20/2035	JPY	10,000		69
Series 163, 0.60%, 12/20/2037	JPY	5,000		31
Series 164, 0.50%, 03/20/2038	JPY	4,500		28
Series 165, 0.50%, 06/20/2038	JPY	3,450		21
Series 167, 0.50%, 12/20/2038	JPY	12,050		73
Series 168, 0.40%, 03/20/2039	JPY	15,500		92
Series 172, 0.40%, 03/20/2040	JPY	145,000		845
Series 173, 0.40%, 06/20/2040	JPY	125,000		726
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	410,950		2,368
Series 179, 0.50%, 12/20/2041	JPY	55,000		316
Series 180, 0.80%, 03/20/2042	JPY	133,000		802
Series 183, 1.40%, 12/20/2042	JPY	35,000		232
Series 184, 1.10%, 03/20/2043	JPY	13,650		86
Series 185, 1.10%, 06/20/2043	JPY	14,000		88
Series 186, 1.50%, 09/20/2043	JPY	31,650		211
Series 187, 1.30%, 12/20/2043	JPY	16,000		103
Japan Government Two Year Bond, (Japan),
Series 449, 0.01%, 06/01/2025	JPY	25,000		165
Series 450, 0.01%, 07/01/2025	JPY	32,250		213
Japan Housing Finance Agency, (Japan),
Series 71, 1.75%, 03/19/2026	JPY	200,000		1,358
Series 108, 1.43%, 06/18/2027	JPY	100,000		683
Japan International Cooperation Agency, (Japan), Series 35, 0.08%, 06/19/2026	JPY	200,000		1,314
Japanese Government CPI Linked Bond, (Japan), Series 25, 0.20%, 03/10/2030	JPY	106,412		769
Jersey International Bond, (Jersey), Reg. S, 3.75%, 06/09/2054	GBP	400		416
Junta de Castilla y Leon, (Spain), Reg. S, 0.43%, 04/30/2030	EUR	62		57
Kazakhstan Government International Bond, (Kazakhstan), Reg. S, 1.50%, 09/30/2034	EUR	400		353
Kingdom of Belgium Government Bond, (Belgium),
Series 44, Reg. S, 5.00%, 03/28/2035 (e)	EUR	580		748
Series 60, Reg. S, 4.25%, 03/28/2041 (e)	EUR	1,580		1,945
Series 64, Reg. S, 4.50%, 03/28/2026 (e)	EUR	1,865		2,073
Series 66, Reg. S, 4.00%, 03/28/2032	EUR	342		402
Series 71, Reg. S, 3.75%, 06/22/2045	EUR	663		770
Series 73, Reg. S, 3.00%, 06/22/2034 (e)	EUR	2,988		3,267
Series 74, Reg. S, 0.80%, 06/22/2025 (e)	EUR	2,159		2,261
Series 75, Reg. S, 1.00%, 06/22/2031 (e)	EUR	1,497		1,438
Series 76, Reg. S, 1.90%, 06/22/2038 (e)	EUR	1,740		1,624
Series 77, Reg. S, 1.00%, 06/22/2026 (e)	EUR	1,412		1,464
Series 78, Reg. S, 1.60%, 06/22/2047 (e)	EUR	1,967		1,552
Series 80, Reg. S, 2.15%, 06/22/2066 (e)	EUR	1,021		841
Series 81, Reg. S, 0.80%, 06/22/2027 (e)	EUR	970		986
Series 83, Reg. S, 2.25%, 06/22/2057 (e)	EUR	617		524
Series 84, Reg. S, 1.45%, 06/22/2037 (e)	EUR	600		537
Series 85, Reg. S, 0.80%, 06/22/2028 (e)	EUR	3,082		3,087

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 86, Reg. S, 1.25%, 04/22/2033 (e)	EUR	2,674		2,544
Series 87, Reg. S, 0.90%, 06/22/2029 (e)	EUR	2,254		2,231
Series 88, Reg. S, 1.70%, 06/22/2050 (e)	EUR	1,056		824
Series 89, Reg. S, 0.10%, 06/22/2030 (e)	EUR	1,501		1,386
Series 90, Reg. S, 0.40%, 06/22/2040 (e)	EUR	1,285		905
Series 91, Reg. S, 0.00%, 10/22/2027 (e)	EUR	3,496		3,435
Series 92, Reg. S, 0.00%, 10/22/2031 (e)	EUR	1,377		1,214
Series 93, Reg. S, 0.65%, 06/22/2071 (e)	EUR	628		292
Series 94, Reg. S, 0.35%, 06/22/2032 (e)	EUR	1,880		1,674
Series 95, Reg. S, 1.40%, 06/22/2053 (e)	EUR	2,045		1,428
Series 96, Reg. S, 2.75%, 04/22/2039 (e)	EUR	200		207
Series 97, Reg. S, 3.00%, 06/22/2033 (e)	EUR	1,700		1,864
Series 98, Reg. S, 3.30%, 06/22/2054 (e)	EUR	530		567
Series 99, Reg. S, 3.45%, 06/22/2043 (e)	EUR	379		421
Series 100, Reg. S, 2.85%, 10/22/2034 (e)	EUR	450		484
Series 101, Reg. S, 3.50%, 06/22/2055 (e)	EUR	450		497
Kommunalbanken A/S, (Norway),
Reg. S, 0.05%, 10/24/2029	EUR	7,200		6,687
Reg. S, 0.63%, 04/20/2026	EUR	1,200		1,230
Reg. S, 0.88%, 05/24/2027	EUR	500		506
Kommunekredit, (Denmark),
0.00%, 11/17/2029	EUR	800		742
Reg. S, 0.01%, 05/04/2034	EUR	500		407
Reg. S, 0.50%, 01/24/2025	EUR	460		484
Reg. S, 2.38%, 09/15/2032	EUR	4,000		4,194
Reg. S, 2.88%, 01/19/2035	EUR	7,000		7,536
Kommuninvest I Sverige AB, (Sweden),
Reg. S, 1.50%, 05/12/2025	SEK	3,000		274
Series 2505, Reg. S, 1.00%, 05/12/2025	SEK	5,000		453
Series 2602, Reg. S, 0.75%, 02/04/2026	SEK	2,880		256
Series 2611, Reg. S, 1.00%, 11/12/2026	SEK	4,000		353
Korea Development Bank (The), (South Korea),
Reg. S, 1.83%, 08/10/2027	SEK	2,000		179
2.63%, 09/08/2027	EUR	6,500		6,852
6.00%, 01/22/2025	IDR	15,000,000		938
Korea Expressway Corp., (South Korea), Reg. S, 3.10%, 06/08/2026		800		749
Korea Housing Finance Corp., (South Korea),
Reg. S, 0.26%, 10/27/2028	EUR	1,900		1,803
Reg. S, 1.96%, 07/19/2026	EUR	1,800		1,881
Korea Hydro & Nuclear Power Co. Ltd., (South Korea), Reg. S, 0.00%, 07/19/2024	CHF	300		331
Korea National Oil Corp., (South Korea),
Reg. S, 0.00%, 10/04/2024	CHF	300		330
Reg. S, 0.26%, 07/30/2027	CHF	300		318
Korea Treasury Bond, (South Korea),
Series 2409, 1.38%, 09/10/2024	KRW	420,550		310
Series 2603, 1.25%, 03/10/2026	KRW	145,000		103
Series 2612, 1.50%, 12/10/2026	KRW	569,490		403
Series 2803, 3.25%, 03/10/2028	KRW	110,000		82
Series 2806, 2.63%, 06/10/2028	KRW	50,000		36
Series 2903, 3.25%, 03/10/2029	KRW	75,000		56

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 3006, 1.38%, 06/10/2030	KRW	160,000		106
Series 3106, 2.00%, 06/10/2031	KRW	491,310		333
Series 3112, 2.38%, 12/10/2031	KRW	60,920		42
Series 3212, 4.25%, 12/10/2032	KRW	100,000		79
Series 3306, 3.25%, 06/10/2033	KRW	160,000		118
Series 3312, 4.13%, 12/10/2033	KRW	24,390		19
Series 4009, 1.50%, 09/10/2040	KRW	277,980		158
Series 4209, 3.25%, 09/10/2042	KRW	135,980		99
Series 4212, 3.00%, 12/10/2042	KRW	70,000		49
Series 4903, 2.00%, 03/10/2049	KRW	14,620		8
Series 5003, 1.50%, 03/10/2050	KRW	587,880		299
Series 5103, 1.88%, 03/10/2051	KRW	60,000		33
Series 5303, 3.25%, 03/10/2053	KRW	151,170		112
Series 5309, 3.63%, 09/10/2053	KRW	79,440		63
Series 5403, 3.25%, 03/10/2054	KRW	45,000		33
Series 7009, 1.63%, 09/10/2070	KRW	72,350		33
Kuntarahoitus OYJ, (Finland),
Reg. S, 0.00%, 10/14/2030	EUR	500		452
Reg. S, 0.05%, 09/06/2029	EUR	400		374
Reg. S, 0.25%, 02/25/2032	EUR	100		89
Reg. S, 0.38%, 12/17/2025	GBP	5,000		5,865
Reg. S, 1.25%, 02/23/2033	EUR	200		189
Reg. S, 2.75%, 02/02/2034	EUR	300		320
Reg. S, 2.88%, 01/18/2028	EUR	1,000		1,080
Reg. S, 3.00%, 09/25/2028	EUR	200		218
Land Baden-Wuerttemberg, (Germany),
Reg. S, 0.01%, 09/02/2030	EUR	218		198
Reg. S, 0.13%, 11/19/2040	EUR	100		68
Reg. S, 0.63%, 01/27/2026	EUR	380		392
Reg. S, 3.00%, 06/27/2033	EUR	200		222
Land Berlin, (Germany),
Reg. S, 0.01%, 07/02/2030	EUR	490		447
Reg. S, 0.05%, 08/06/2040	EUR	200		134
Reg. S, 0.10%, 01/18/2030	EUR	635		590
Reg. S, 0.13%, 11/24/2045	EUR	90		53
Reg. S, 0.15%, 02/22/2036	EUR	100		79
Reg. S, 0.63%, 02/05/2029	EUR	800		782
Reg. S, 0.63%, 01/26/2052	EUR	200		119
Reg. S, 1.63%, 08/02/2032	EUR	180		178
Reg. S, 3.00%, 03/13/2054	EUR	100		107
Series 493, Reg. S, 0.63%, 02/08/2027	EUR	220		223
Series 495, Reg. S, 1.38%, 06/05/2037	EUR	260		234
Series 506, Reg. S, 1.38%, 08/27/2038	EUR	115		102
Series 530, Reg. S, 0.10%, 01/18/2041	EUR	80		53
Series 546, 2.75%, 02/14/2033	EUR	140		151
Land Thueringen, (Germany),
Reg. S, 0.05%, 05/06/2030	EUR	260		239
Reg. S, 0.13%, 01/13/2051	EUR	100		50
0.50%, 03/02/2029	EUR	600		582
Reg. S, 3.00%, 11/15/2028	EUR	100		109

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Latvia Government International Bond, (Latvia),
Reg. S, 0.00%, 03/17/2031	EUR	100		85
Reg. S, 1.13%, 05/30/2028	EUR	390		388
Reg. S, 1.38%, 05/16/2036	EUR	110		92
Reg. S, 1.88%, 02/19/2049	EUR	100		76
Reg. S, 3.50%, 01/17/2028	EUR	650		711
LCR Finance plc, (United Kingdom),
Reg. S, 4.50%, 12/07/2028	GBP	400		511
Reg. S, 4.50%, 12/07/2038	GBP	110		140
5.10%, 03/07/2051	GBP	50		68
Lithuania Government International Bond, (Lithuania),
Reg. S, 0.25%, 05/06/2025	EUR	70		73
Reg. S, 0.50%, 07/28/2050	EUR	210		111
Reg. S, 0.75%, 05/06/2030	EUR	440		406
Reg. S, 0.95%, 05/26/2027	EUR	500		500
Reg. S, 2.13%, 06/01/2032	EUR	210		205
Reg. S, 3.88%, 06/14/2033	EUR	350		389
Malaysia Government Bond, (Malaysia),
Series 119, 3.91%, 07/15/2026	MYR	500		107
Series 120, 4.07%, 06/15/2050	MYR	100		21
Series 122, 3.58%, 07/15/2032	MYR	210		43
Series 123, 4.46%, 03/31/2053	MYR	100		22
Series 219, 3.89%, 08/15/2029	MYR	6,600		1,410
Series 417, 3.90%, 11/16/2027	MYR	500		107
Series 519, 3.76%, 05/22/2040	MYR	640		131
Malaysia Government Investment Issue, (Malaysia),
Series 119, 4.13%, 07/09/2029	MYR	810		175
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		63
Series 617, 4.72%, 06/15/2033	MYR	505		114
Metropolitano de Lisboa EPE, (Portugal),
4.80%, 12/07/2027	EUR	700		800
7.30%, 12/23/2025	EUR	500		575
Mexican Bonos, (Mexico),
Series M, 7.50%, 06/03/2027	MXN	17,000		967
Series M, 7.75%, 05/29/2031	MXN	12,000		663
Series M, 7.75%, 11/13/2042	MXN	2,000		102
Series M, 8.50%, 05/31/2029	MXN	1,000		58
Series M, 8.50%, 11/18/2038	MXN	2,000		112
Mexico Government International Bond, (Mexico),
1.13%, 01/17/2030	EUR	1,200		1,109
1.35%, 09/18/2027	EUR	3,075		3,080
1.45%, 10/25/2033	EUR	7,000		5,909
1.63%, 04/08/2026	EUR	200		207
1.75%, 04/17/2028	EUR	2,000		2,001
2.13%, 10/25/2051	EUR	2,200		1,410
3.00%, 03/06/2045	EUR	825		686
Reg. S, 3.38%, 02/23/2031	EUR	3,000		3,116
3.50%, 02/12/2034		850		707
3.75%, 04/19/2071		200		127

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 4.00%, 03/15/2115	EUR	3,500		2,970
4.40%, 02/12/2052		400		305
4.49%, 05/25/2032	EUR	4,900		5,373
4.50%, 04/22/2029		200		193
4.60%, 02/10/2048		250		201
Reg. S, 5.63%, 03/19/2114	GBP	800		779
5.75%, 10/12/2110		80		70
6.00%, 05/07/2036		3,481		3,484
Ministeries Van de Vlaamse Gemeenschap, (Belgium),
Reg. S, 0.30%, 10/20/2031	EUR	900		795
Reg. S, 1.00%, 01/23/2051	EUR	100		62
Reg. S, 1.38%, 11/21/2033	EUR	500		463
Reg. S, 1.50%, 07/12/2038	EUR	100		86
Reg. S, 1.50%, 04/11/2044	EUR	100		77
Reg. S, 3.00%, 10/12/2032	EUR	100		107
Reg. S, 3.25%, 01/12/2043	EUR	200		209
Reg. S, 4.00%, 09/26/2042	EUR	300		347
Municipal Finance Authority of British Columbia, (Canada),
1.10%, 06/01/2025	CAD	200		142
2.55%, 10/09/2029	CAD	300		206
Nederlandse Waterschapsbank NV, (Netherlands),
Reg. S, 0.00%, 09/08/2031	EUR	930		819
Reg. S, 0.05%, 01/28/2030	EUR	374		345
Reg. S, 0.38%, 09/28/2046	EUR	269		163
Reg. S, 0.63%, 02/06/2029	EUR	500		486
Reg. S, 0.75%, 10/04/2041	EUR	200		146
Reg. S, 1.00%, 03/01/2028	EUR	300		301
Reg. S, 1.25%, 05/27/2036	EUR	140		124
Reg. S, 1.50%, 04/27/2038	EUR	440		393
Reg. S, 1.50%, 06/15/2039	EUR	160		140
Reg. S, 2.63%, 01/10/2034	EUR	200		211
Reg. S, 2.75%, 12/17/2029	EUR	1,000		1,077
5.20%, 03/31/2025	CAD	1,000		742
Netherlands Government Bond, (Netherlands),
Reg. S, 0.00%, 01/15/2026 (e)	EUR	1,100		1,127
Reg. S, 0.00%, 01/15/2027 (e)	EUR	670		672
Reg. S, 0.00%, 01/15/2029 (e)	EUR	1,980		1,897
Reg. S, 0.00%, 07/15/2030 (e)	EUR	1,014		937
Reg. S, 0.00%, 07/15/2031 (e)	EUR	1,827		1,648
Reg. S, 0.00%, 01/15/2038 (e)	EUR	1,332		995
Reg. S, 0.00%, 01/15/2052 (e)	EUR	1,594		849
Reg. S, 0.25%, 07/15/2025 (e)	EUR	1,934		2,012
Reg. S, 0.25%, 07/15/2029 (e)	EUR	799		768
Reg. S, 0.50%, 07/15/2026 (e)	EUR	2,240		2,298
Reg. S, 0.50%, 07/15/2032 (e)	EUR	2,160		1,981
Reg. S, 0.50%, 01/15/2040 (e)	EUR	1,920		1,496
Reg. S, 0.75%, 07/15/2027 (e)	EUR	1,913		1,947
Reg. S, 0.75%, 07/15/2028 (e)	EUR	2,880		2,887
Reg. S, 2.00%, 01/15/2054 (e)	EUR	990		926
Reg. S, 2.50%, 01/15/2030 (e)	EUR	600		647
Reg. S, 2.50%, 01/15/2033 (e)	EUR	2,288		2,463

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 2.50%, 07/15/2033 (e)	EUR	1,299		1,395
Reg. S, 2.50%, 07/15/2034 (e)	EUR	400		428
Reg. S, 2.75%, 01/15/2047 (e)	EUR	1,997		2,188
Reg. S, 3.25%, 01/15/2044 (e)	EUR	500		585
Reg. S, 3.75%, 01/15/2042 (e)	EUR	1,842		2,281
Reg. S, 4.00%, 01/15/2037 (e)	EUR	974		1,202
Reg. S, 5.50%, 01/15/2028 (e)	EUR	1,366		1,627
New South Wales Treasury Corp., (Australia),
Reg. S, 1.75%, 03/20/2034	AUD	40		20
Reg. S, 2.00%, 03/20/2031	AUD	200		113
Reg. S, 2.00%, 03/08/2033	AUD	100		53
Reg. S, 2.50%, 11/22/2032	AUD	50		28
Reg. S, 3.00%, 02/20/2030	AUD	340		209
New Zealand Government Bond, (New Zealand),
Series 429, 3.00%, 04/20/2029	NZD	110		62
Series 528, 0.25%, 05/15/2028	NZD	880		445
Series 530, 4.50%, 05/15/2030	NZD	30		18
Series 531, 1.50%, 05/15/2031	NZD	20		10
Series 532, 2.00%, 05/15/2032	NZD	80		40
Series 534, 4.25%, 05/15/2034	NZD	50		29
Series 551, 2.75%, 05/15/2051	NZD	40		16
New Zealand Local Government Funding Agency Bond, (New Zealand),
Reg. S, 2.00%, 04/15/2037	NZD	250		102
3.50%, 04/14/2033	NZD	300		158
Northern Territory Treasury Corp., (Australia), Reg. S, 2.00%, 04/21/2031	AUD	300		167
Norway Government Bond, (Norway),
Series 477, Reg. S, 1.75%, 03/13/2025 (e)	NOK	6,500		585
Series 478, Reg. S, 1.50%, 02/19/2026 (e)	NOK	4,500		397
Series 479, Reg. S, 1.75%, 02/17/2027 (e)	NOK	3,070		268
Series 480, Reg. S, 2.00%, 04/26/2028 (e)	NOK	6,510		564
Series 481, Reg. S, 1.75%, 09/06/2029 (e)	NOK	3,040		256
Series 482, Reg. S, 1.38%, 08/19/2030 (e)	NOK	7,050		571
Series 483, Reg. S, 1.25%, 09/17/2031 (e)	NOK	7,444		583
Series 484, Reg. S, 2.13%, 05/18/2032 (e)	NOK	5,867		485
Series 485, Reg. S, 3.50%, 10/06/2042 (e)	NOK	1,280		121
Series 486, Reg. S, 3.00%, 08/15/2033 (e)	NOK	6,100		536
Series 487, Reg. S, 3.63%, 04/13/2034 (e)	NOK	5,850		541
OMERS Finance Trust, (Canada),
0.45%, 05/13/2025 (e)	EUR	250		260
Reg. S, 0.45%, 05/13/2025	EUR	3,200		3,334
5.50%, 11/15/2033 (e)		700		736
Ontario Electricity Financial Corp., (Canada), Series 40, Zero Coupon, 04/11/2031	CAD	1,500		826
Ontario Teachers' Finance Trust, (Canada),
Reg. S, 0.10%, 05/19/2028	EUR	100		95
Reg. S, 0.50%, 05/06/2025	EUR	6,700		6,986
Reg. S, 0.90%, 05/20/2041	EUR	1,650		1,222
Reg. S, 1.85%, 05/03/2032	EUR	10,000		9,777
Reg. S, 3.30%, 10/05/2029	EUR	800		870
Panama Government International Bond, (Panama),
3.30%, 01/19/2033		200		155
4.50%, 01/19/2063		400		262

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Peruvian Government International Bond, (Peru),
1.25%, 03/11/2033	EUR	2,000		1,708
Reg. S, 1.95%, 11/17/2036	EUR	1,000		830
Reg. S, 2.75%, 01/30/2026	EUR	825		872
2.78%, 01/23/2031		110		94
3.00%, 01/15/2034		570		467
3.23%, 07/28/2121		25		14
3.55%, 03/10/2051		75		54
Reg. S, 6.90%, 08/12/2037	PEN	1,000		255
Philippine Government International Bond, (Philippines),
1.20%, 04/28/2033	EUR	5,000		4,316
1.75%, 04/28/2041	EUR	1,000		756
Portugal Obrigacoes do Tesouro OT, (Portugal),
Reg. S, 0.30%, 10/17/2031 (e)	EUR	1,092		987
Reg. S, 0.48%, 10/18/2030 (e)	EUR	182		171
Reg. S, 0.70%, 10/15/2027 (e)	EUR	1,675		1,696
Reg. S, 0.90%, 10/12/2035 (e)	EUR	861		736
Reg. S, 1.00%, 04/12/2052 (e)	EUR	530		323
Reg. S, 1.15%, 04/11/2042 (e)	EUR	395		301
Reg. S, 1.65%, 07/16/2032 (e)	EUR	1,210		1,196
Reg. S, 1.95%, 06/15/2029 (e)	EUR	1,803		1,884
Reg. S, 2.13%, 10/17/2028 (e)	EUR	1,287		1,365
Reg. S, 2.88%, 10/15/2025 (e)	EUR	1,500		1,614
Reg. S, 2.88%, 07/21/2026 (e)	EUR	1,710		1,848
Reg. S, 3.50%, 06/18/2038 (e)	EUR	450		499
Reg. S, 3.88%, 02/15/2030 (e)	EUR	1,020		1,176
Reg. S, 4.10%, 04/15/2037 (e)	EUR	837		993
Reg. S, 4.10%, 02/15/2045 (e)	EUR	910		1,081
Reg. S, 4.13%, 04/14/2027 (e)	EUR	480		541
Series 15Y, Reg. S, 2.25%, 04/18/2034 (e)	EUR	1,306		1,326
Province of Alberta Canada, (Canada),
Reg. S, 1.40%, 02/20/2029	SEK	2,000		168
2.20%, 06/01/2026	CAD	600		425
Province of British Columbia Canada, (Canada),
2.80%, 06/18/2048	CAD	400		226
7.25%, 09/01/2036		300		362
Province of Manitoba Canada, (Canada), 2.75%, 06/02/2029	CAD	500		350
Province of Nova Scotia Canada, (Canada), 3.45%, 06/01/2045	CAD	200		127
Province of Ontario Canada, (Canada),
Reg. S, 0.01%, 11/25/2030	EUR	3,000		2,669
Reg. S, 0.25%, 12/15/2026	GBP	1,900		2,138
Reg. S, 0.25%, 06/09/2031	EUR	3,000		2,670
Reg. S, 0.38%, 04/08/2027	EUR	1,000		997
Reg. S, 0.63%, 04/17/2025	EUR	400		419
Reg. S, 0.88%, 01/21/2025	EUR	1,000		1,055
5.60%, 06/02/2035	CAD	300		249
Province of Quebec Canada, (Canada),
Reg. S, 0.00%, 10/15/2029	EUR	1,000		920
Reg. S, 0.25%, 05/05/2031	EUR	8,000		7,168
Reg. S, 0.50%, 01/25/2032	EUR	3,000		2,687
Reg. S, 0.88%, 05/04/2027	EUR	3,500		3,538

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 0.88%, 07/05/2028	EUR	1,025		1,015
3.50%, 12/01/2045	CAD	200		130
4.50%, 09/08/2033		610		604
Series PD, 7.50%, 09/15/2029		100		114
Province of Saskatchewan Canada, (Canada), 3.30%, 06/02/2048	CAD	400		247
Queensland Treasury Corp., (Australia),
Reg. S, 1.75%, 08/21/2031 (e)	AUD	600		329
Reg. S, 2.00%, 08/22/2033 (e)	AUD	70		37
Reg. S, 5.25%, 07/21/2036 (e)	AUD	40		27
Series 27, Reg. S, 2.75%, 08/20/2027 (e)	AUD	400		251
Regiao Autonoma Madeira, (Portugal), 0.94%, 05/29/2032	EUR	1,200		1,094
Regie Autonome des Transports Parisiens EPIC, (France),
Reg. S, 0.35%, 06/20/2029	EUR	500		470
Reg. S, 0.38%, 06/15/2024	EUR	300		321
Reg. S, 0.40%, 12/19/2036	EUR	1,006		892
Reg. S, 0.88%, 05/25/2027	EUR	100		101
Reg. S, 1.88%, 05/25/2032	EUR	100		98
Reg. S, 3.25%, 04/11/2033	EUR	100		108
Region of Ile de France, (France),
Reg. S, 0.00%, 04/20/2028	EUR	200		191
Reg. S, 0.50%, 06/14/2025	EUR	200		208
Reg. S, 0.63%, 04/23/2027	EUR	200		200
Reg. S, 2.23%, 07/19/2032	EUR	200		201
Region Wallonne Belgium, (Belgium),
Reg. S, 0.25%, 05/03/2026	EUR	300		304
Reg. S, 0.38%, 10/22/2031	EUR	100		88
Reg. S, 0.50%, 06/22/2037	EUR	100		75
Reg. S, 1.05%, 06/22/2040	EUR	100		75
Reg. S, 1.25%, 05/03/2034	EUR	200		179
Reg. S, 1.38%, 04/06/2032	EUR	200		189
Reg. S, 3.00%, 12/06/2030	EUR	200		214
Reg. S, 3.25%, 06/22/2033	EUR	400		432
Reg. S, 3.50%, 03/15/2043	EUR	100		106
Reg. S, 3.75%, 04/22/2039	EUR	100		111
Republic of Austria Government Bond, (Austria),
Reg. S, 0.00%, 04/20/2025 (e)	EUR	1,300		1,355
Reg. S, 0.00%, 10/20/2028 (e)	EUR	490		469
Reg. S, 0.00%, 02/20/2030 (e)	EUR	1,178		1,088
Reg. S, 0.00%, 02/20/2031 (e)	EUR	2,094		1,879
Reg. S, 0.00%, 10/20/2040 (e)	EUR	460		305
Reg. S, 0.25%, 10/20/2036 (e)	EUR	1,450		1,129
Reg. S, 0.50%, 04/20/2027 (e)	EUR	1,100		1,109
Reg. S, 0.50%, 02/20/2029 (e)	EUR	1,219		1,186
Reg. S, 0.70%, 04/20/2071 (e)	EUR	601		301
Reg. S, 0.75%, 10/20/2026 (e)	EUR	1,000		1,025
Reg. S, 0.75%, 02/20/2028 (e)	EUR	2,740		2,748
Reg. S, 0.75%, 03/20/2051 (e)	EUR	1,362		870
Reg. S, 0.85%, 06/30/2120 (e)	EUR	300		152
Reg. S, 0.90%, 02/20/2032 (e)	EUR	1,890		1,774
Reg. S, 1.20%, 10/20/2025 (e)	EUR	1,760		1,845

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 02/20/2047 (e)	EUR	895		726
Reg. S, 1.50%, 11/02/2086 (e)	EUR	190		126
Reg. S, 1.85%, 05/23/2049 (e)	EUR	820		703
Reg. S, 2.00%, 07/15/2026 (e)	EUR	270		286
Reg. S, 2.10%, 09/20/2117 (e)	EUR	756		629
Reg. S, 2.40%, 05/23/2034 (e)	EUR	1,023		1,063
Reg. S, 2.90%, 05/23/2029 (e)	EUR	650		710
Reg. S, 2.90%, 02/20/2033 (e)	EUR	930		1,011
Reg. S, 2.90%, 02/20/2034 (e)	EUR	450		489
Reg. S, 3.15%, 06/20/2044 (e)	EUR	848		933
Reg. S, 3.15%, 10/20/2053 (e)	EUR	450		494
Reg. S, 3.80%, 01/26/2062 (e)	EUR	440		554
Reg. S, 4.15%, 03/15/2037 (e)	EUR	1,445		1,761
Reg. S, 4.85%, 03/15/2026 (e)	EUR	461		515
Reg. S, 6.25%, 07/15/2027	EUR	783		935
Republic of Austria Government International Bond, (Austria), Reg. S, 5.38%, 12/01/2034 (e)	CAD	200		162
Republic of Italy Government International Bond, (Italy),
1.25%, 02/17/2026		2,000		1,855
2.88%, 10/17/2029		200		177
3.88%, 05/06/2051		200		142
Reg. S, (ICE EURIBOR Swap Rate 30 Year + 0.00%), 4.25%, 06/28/2029 (aa)	EUR	1,000		1,115
Reg. S, 5.13%, 07/31/2024	EUR	400		433
5.20%, 07/31/2034	EUR	200		238
Reg. S, 6.00%, 08/04/2028	GBP	1,050		1,366
Republic of Poland Government Bond, (Poland),
Series 425, 0.75%, 04/25/2025	PLN	1,810		433
Series 428, 2.75%, 04/25/2028	PLN	6,310		1,440
Series 429, 5.75%, 04/25/2029	PLN	4,630		1,179
Series 432, 1.75%, 04/25/2032	PLN	6,023		1,156
Series 447, 4.00%, 04/25/2047	PLN	373		75
Series 725, 3.25%, 07/25/2025	PLN	4,160		1,016
Series 726, 2.50%, 07/25/2026	PLN	4,870		1,151
Series 727, 2.50%, 07/25/2027	PLN	8,450		1,947
Series 728, 7.50%, 07/25/2028	PLN	6,150		1,667
Series 1026, 0.25%, 10/25/2026	PLN	6,040		1,338
Series 1029, 2.75%, 10/25/2029	PLN	3,773		832
Series 1030, 1.25%, 10/25/2030	PLN	5,923		1,155
Series 1033, 6.00%, 10/25/2033	PLN	2,880		750
Republic of Poland Government International Bond, (Poland),
Reg. S, 0.00%, 02/10/2025	EUR	160		167
Reg. S, 0.88%, 05/10/2027	EUR	1,900		1,923
Reg. S, 1.13%, 08/07/2026	EUR	1,825		1,885
Reg. S, 1.38%, 10/22/2027	EUR	6,000		6,125
Reg. S, 2.00%, 03/08/2049	EUR	53		40
Reg. S, 2.38%, 01/18/2036	EUR	1,000		945
Reg. S, 2.75%, 05/25/2032	EUR	3,000		3,083
Reg. S, 4.25%, 02/14/2043	EUR	5,000		5,596
Reg. S, 5.25%, 01/20/2025	EUR	1,000		1,089

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Romania Government Bond, (Romania),
Series 5Y, 3.25%, 06/24/2026	RON	2,215		454
Series 5Y, 3.65%, 07/28/2025	RON	9,970		2,099
Series 5Y, 4.25%, 04/28/2036	RON	1,215		213
Series 6Y, 8.75%, 10/30/2028	RON	5,850		1,392
Series 7Y, 2.50%, 10/25/2027	RON	1,350		259
Series 8Y, 4.15%, 01/26/2028	RON	1,930		390
Series 10YR, 4.15%, 10/24/2030	RON	3,055		584
Series 10Y, 6.70%, 02/25/2032	RON	3,130		686
Series 10Y, 8.25%, 09/29/2032	RON	3,330		799
Series 15Y, 7.90%, 02/24/2038	RON	1,650		398
Romanian Government International Bond, (Romania),
Reg. S, 1.38%, 12/02/2029	EUR	2,000		1,794
Reg. S, 1.75%, 07/13/2030	EUR	1,000		885
Reg. S, 2.00%, 04/14/2033	EUR	1,500		1,240
Reg. S, 2.12%, 07/16/2031	EUR	3,000		2,640
Reg. S, 2.13%, 03/07/2028	EUR	3,000		2,971
Reg. S, 2.38%, 04/19/2027	EUR	2,000		2,052
Reg. S, 2.63%, 12/02/2040	EUR	1,000		735
Reg. S, 2.75%, 10/29/2025	EUR	6,000		6,352
Reg. S, 2.75%, 02/26/2026	EUR	15		16
Reg. S, 2.75%, 04/14/2041	EUR	800		588
Reg. S, 2.88%, 10/28/2024	EUR	1,475		1,579
Reg. S, 2.88%, 04/13/2042	EUR	1,000		736
Reg. S, 3.38%, 02/08/2038	EUR	1,425		1,215
Reg. S, 3.38%, 01/28/2050	EUR	1,265		959
Reg. S, 3.62%, 05/26/2030	EUR	1,875		1,864
Reg. S, 3.75%, 02/07/2034	EUR	1,000		946
Reg. S, 3.88%, 10/29/2035	EUR	5,000		4,653
Reg. S, 4.13%, 03/11/2039	EUR	10,000		9,188
Reg. S, 4.63%, 04/03/2049	EUR	2,000		1,867
Reg. S, 5.00%, 09/27/2026	EUR	1,000		1,104
Reg. S, 6.63%, 09/27/2029	EUR	2,000		2,331
Saudi Government International Bond, (Saudi Arabia),
Reg. S, 0.75%, 07/09/2027	EUR	2,200		2,177
Reg. S, 2.00%, 07/09/2039	EUR	1,200		988
5.75%, 01/16/2054 (e)		2,645		2,613
SFIL SA, (France),
Reg. S, 0.05%, 06/04/2029	EUR	1,300		1,205
Reg. S, 1.50%, 03/05/2032	EUR	300		288
Reg. S, 2.88%, 01/18/2028	EUR	1,000		1,071
Singapore Government Bond, (Singapore),
1.63%, 07/01/2031	SGD	50		33
1.88%, 03/01/2050	SGD	53		31
2.13%, 06/01/2026	SGD	134		97
2.38%, 07/01/2039	SGD	40		27

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
2.75%, 04/01/2042	SGD	30		21
2.75%, 03/01/2046	SGD	80		57
2.88%, 07/01/2029	SGD	150		110
2.88%, 09/01/2030	SGD	1,215		889
Reg. S, 3.00%, 08/01/2072	SGD	20		15
3.38%, 09/01/2033	SGD	340		257
Slovakia Government Bond, (Slovakia),
Series 231, 0.63%, 05/22/2026	EUR	860		877
Series 232, Reg. S, 1.88%, 03/09/2037	EUR	160		140
Series 233, Reg. S, 2.00%, 10/17/2047	EUR	460		352
Series 234, Reg. S, 1.00%, 06/12/2028	EUR	700		695
Series 235, Reg. S, 2.25%, 06/12/2068	EUR	99		74
Series 236, Reg. S, 0.75%, 04/09/2030	EUR	420		393
Series 238, Reg. S, 0.25%, 05/14/2025	EUR	690		716
Series 239, Reg. S, 1.00%, 05/14/2032	EUR	718		649
Series 241, Reg. S, 0.13%, 06/17/2027	EUR	162		159
Series 242, Reg. S, 0.38%, 04/21/2036	EUR	379		279
Series 243, Reg. S, 1.00%, 10/13/2051	EUR	280		162
Series 244, Reg. S, 4.00%, 10/19/2032	EUR	80		90
Series 245, Reg. S, 3.75%, 02/23/2035	EUR	840		916
Series 246, Reg. S, 4.00%, 02/23/2043	EUR	160		177
Series 247, Reg. S, 3.63%, 06/08/2033	EUR	95		104
Slovenia Government Bond, (Slovenia),
Series RS70, Reg. S, 5.13%, 03/30/2026	EUR	470		527
Series RS74, Reg. S, 1.50%, 03/25/2035	EUR	120		110
Series RS76, Reg. S, 3.13%, 08/07/2045	EUR	160		166
Series RS77, Reg. S, 2.25%, 03/03/2032	EUR	130		134
Series RS78, Reg. S, 1.75%, 11/03/2040	EUR	212		186
Series RS80, Reg. S, 1.00%, 03/06/2028	EUR	500		504
Series RS82, Reg. S, 0.28%, 01/14/2030	EUR	586		548
Series RS84, Reg. S, 0.88%, 07/15/2030	EUR	190		183
Series RS85, Reg. S, 0.49%, 10/20/2050	EUR	190		103
Series RS87, Reg. S, 0.69%, 03/03/2081	EUR	121		56
Series RS91, Reg. S, 3.63%, 03/11/2033	EUR	760		860
Series RS93, Reg. S, 3.00%, 03/10/2034	EUR	260		278
SNCF Reseau, (France),
Reg. S, 0.88%, 01/22/2029	EUR	200		195
Reg. S, 1.00%, 11/09/2031	EUR	300		278
Reg. S, 1.13%, 05/19/2027	EUR	500		508
Reg. S, 1.13%, 05/25/2030	EUR	500		482
Reg. S, 1.50%, 05/29/2037	EUR	300		260
Reg. S, 2.00%, 11/12/2026	CHF	300		339
Reg. S, 2.00%, 02/05/2048	EUR	100		79
Reg. S, 2.25%, 12/20/2047	EUR	100		84
4.70%, 06/01/2035	CAD	100		76
Reg. S, 4.83%, 03/25/2060	GBP	2,000		2,451
Reg. S, 5.00%, 10/10/2033	EUR	200		247
Reg. S, 5.00%, 03/11/2052	GBP	145		182
Reg. S, 5.25%, 12/07/2028	GBP	300		393

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Des Grands Projets EPIC, (France),
Reg. S, 0.00%, 11/25/2030	EUR	700		622
Reg. S, 0.30%, 09/02/2036	EUR	200		151
Reg. S, 0.70%, 10/15/2060	EUR	300		134
Reg. S, 0.88%, 05/10/2046	EUR	100		65
Reg. S, 1.00%, 11/26/2051	EUR	200		119
Reg. S, 1.13%, 10/22/2028	EUR	700		697
Reg. S, 1.13%, 05/25/2034	EUR	200		178
Reg. S, 1.70%, 05/25/2050	EUR	300		223
Reg. S, 3.50%, 05/25/2043	EUR	400		430
Reg. S, 3.50%, 06/25/2049	EUR	100		108
Reg. S, 3.70%, 05/25/2053	EUR	200		221
Societe Nationale SNCF SACA, (France),
Reg. S, 0.63%, 04/17/2030	EUR	500		467
Reg. S, 1.00%, 05/25/2040	EUR	100		74
Reg. S, 1.00%, 01/19/2061	EUR	100		47
Reg. S, 1.50%, 02/02/2029	EUR	300		300
Reg. S, 3.13%, 05/25/2034	EUR	500		538
Reg. S, 3.38%, 05/25/2033	EUR	400		440
Reg. S, 5.38%, 03/18/2027	GBP	400		513
South Australian Government Financing Authority, (Australia), Reg. S, 2.00%, 05/23/2036	AUD	89		43
Spain Government Bond, (Spain),
0.00%, 05/31/2025	EUR	2,600		2,699
0.00%, 01/31/2026	EUR	3,200		3,267
Reg. S, 0.00%, 01/31/2028 (e)	EUR	3,878		3,759
Reg. S, 0.10%, 04/30/2031 (e)	EUR	2,580		2,290
Reg. S, 0.50%, 04/30/2030 (e)	EUR	6,473		6,076
Reg. S, 0.50%, 10/31/2031 (e)	EUR	3,488		3,146
Reg. S, 0.60%, 10/31/2029 (e)	EUR	1,810		1,730
Reg. S, 0.70%, 04/30/2032 (e)	EUR	3,110		2,812
Reg. S, 0.80%, 07/30/2027 (e)	EUR	3,441		3,472
0.80%, 07/30/2029	EUR	1,100		1,068
Reg. S, 0.85%, 07/30/2037 (e)	EUR	4,393		3,465
Reg. S, 1.00%, 07/30/2042 (e)	EUR	1,293		923
Reg. S, 1.00%, 10/31/2050 (e)	EUR	3,300		1,976
Reg. S, 1.20%, 10/31/2040 (e)	EUR	2,511		1,924
Reg. S, 1.25%, 10/31/2030 (e)	EUR	1,058		1,030
Reg. S, 1.30%, 10/31/2026 (e)	EUR	2,251		2,332
Reg. S, 1.40%, 04/30/2028 (e)	EUR	3,456		3,526
Reg. S, 1.40%, 07/30/2028 (e)	EUR	2,991		3,044
Reg. S, 1.45%, 10/31/2027 (e)	EUR	4,440		4,566
Reg. S, 1.45%, 04/30/2029 (e)	EUR	5,130		5,182
Reg. S, 1.45%, 10/31/2071 (e)	EUR	749		405
Reg. S, 1.50%, 04/30/2027 (e)	EUR	1,325		1,372
Reg. S, 1.60%, 04/30/2025 (e)	EUR	2,810		2,976
Reg. S, 1.85%, 07/30/2035 (e)	EUR	2,233		2,097
Reg. S, 1.90%, 10/31/2052 (e)	EUR	1,832		1,353
Reg. S, 1.95%, 04/30/2026 (e)	EUR	2,228		2,353
Reg. S, 1.95%, 07/30/2030 (e)	EUR	1,244		1,272
Reg. S, 2.15%, 10/31/2025 (e)	EUR	3,525		3,747

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 2.35%, 07/30/2033 (e)	EUR	2,341		2,380
Reg. S, 2.55%, 10/31/2032 (e)	EUR	3,290		3,425
2.80%, 05/31/2026	EUR	1,600		1,718
Reg. S, 2.90%, 10/31/2046 (e)	EUR	1,663		1,598
Reg. S, 3.15%, 04/30/2033 (e)	EUR	4,020		4,366
Reg. S, 3.25%, 04/30/2034 (e)	EUR	2,450		2,664
Reg. S, 3.45%, 07/30/2043 (e)	EUR	1,483		1,562
Reg. S, 3.45%, 07/30/2066 (e)	EUR	1,560		1,565
3.50%, 05/31/2029	EUR	900		1,002
Reg. S, 3.55%, 10/31/2033 (e)	EUR	615		687
Reg. S, 3.90%, 07/30/2039 (e)	EUR	450		509
Reg. S, 4.00%, 10/31/2054 (e)	EUR	450		504
Reg. S, 4.20%, 01/31/2037 (e)	EUR	1,173		1,381
Reg. S, 4.65%, 07/30/2025 (e)	EUR	1,956		2,148
Reg. S, 4.70%, 07/30/2041 (e)	EUR	1,804		2,240
Reg. S, 4.90%, 07/30/2040 (e)	EUR	2,339		2,949
Reg. S, 5.15%, 10/31/2028 (e)	EUR	2,576		3,055
Reg. S, 5.15%, 10/31/2044 (e)	EUR	1,921		2,535
5.75%, 07/30/2032	EUR	1,706		2,211
Reg. S, 5.90%, 07/30/2026 (e)	EUR	4,170		4,785
6.00%, 01/31/2029	EUR	2,430		2,997
Series 30Y, Reg. S, 2.70%, 10/31/2048 (e)	EUR	2,141		1,958
State of Brandenburg, (Germany),
Reg. S, 0.13%, 01/26/2046	EUR	259		150
Reg. S, 1.45%, 11/26/2038	EUR	180		160
Reg. S, 2.50%, 01/25/2029	EUR	200		214
Reg. S, 3.00%, 02/27/2032	EUR	200		220
State of Bremen, (Germany),
Series 215, Reg. S, 1.20%, 01/30/2034	EUR	40		37
Series 224, Reg. S, 0.40%, 08/20/2049	EUR	30		17
Series 232, Reg. S, 0.55%, 02/04/2050	EUR	30		18
Series 247, Reg. S, 0.15%, 09/14/2040	EUR	310		211
Series 250, Reg. S, 0.01%, 10/06/2028	EUR	640		611
Series 258, Reg. S, 0.50%, 05/06/2041	EUR	138		99
Series 274, Reg. S, 2.75%, 01/30/2032	EUR	100		108
State of Hesse, (Germany),
Reg. S, 0.13%, 10/10/2031	EUR	203		181
Reg. S, 2.75%, 01/10/2034	EUR	200		216
Series 1801, Reg. S, 0.63%, 08/02/2028	EUR	230		227
Series 2006, Reg. S, 0.01%, 03/11/2030	EUR	100		92
Series 2301, 2.88%, 01/10/2033	EUR	800		874
State of Israel, (Israel), 3.38%, 01/15/2050		200		134
State of Lower Austria, (Austria), Reg. S, 3.63%, 10/04/2033	EUR	100		114
State of Lower Saxony, (Germany),
Reg. S, 0.00%, 02/11/2027	EUR	1,310		1,301
Reg. S, 0.01%, 01/10/2031	EUR	479		432
Reg. S, 0.05%, 03/09/2035	EUR	277		222
Reg. S, 0.38%, 05/14/2029	EUR	500		479
Reg. S, 1.50%, 10/17/2029	EUR	200		202
Reg. S, 2.75%, 02/17/2031	EUR	200		216
Series 884, Reg. S, 0.88%, 10/25/2028	EUR	320		318

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 898, Reg. S, 0.01%, 08/13/2030	EUR	149		136
Series 917, 2.63%, 01/09/2034	EUR	200		214
State of North Rhine-Westphalia Germany, (Germany),
Reg. S, 0.00%, 01/15/2029	EUR	161		152
Reg. S, 0.20%, 03/31/2027	EUR	390		389
Reg. S, 0.20%, 04/09/2030	EUR	694		646
Reg. S, 0.20%, 01/27/2051	EUR	270		140
Reg. S, 0.38%, 09/02/2050	EUR	385		214
Reg. S, 0.50%, 11/25/2039	EUR	110		82
Reg. S, 0.60%, 06/04/2041	EUR	300		218
Reg. S, 0.75%, 08/16/2041	EUR	360		268
Reg. S, 0.80%, 07/30/2049	EUR	100		65
Reg. S, 0.90%, 11/15/2028	EUR	600		596
Reg. S, 0.95%, 03/13/2028	EUR	144		145
Reg. S, 0.95%, 01/10/2121	EUR	195		96
Reg. S, 1.00%, 10/16/2046	EUR	300		216
Reg. S, 1.38%, 01/15/2120	EUR	434		249
Reg. S, 1.45%, 02/16/2043	EUR	100		83
Reg. S, 1.45%, 01/19/2122	EUR	150		88
Reg. S, 1.65%, 02/22/2038	EUR	480		443
Reg. S, 1.65%, 05/16/2047	EUR	220		183
Reg. S, 1.75%, 10/26/2057	EUR	172		134
Reg. S, 1.75%, 07/11/2068	EUR	104		78
Reg. S, 1.95%, 09/26/2078	EUR	254		199
Reg. S, 2.13%, 06/13/2025	GBP	1,000		1,221
Reg. S, 2.15%, 03/21/2119	EUR	376		304
Reg. S, 2.75%, 01/15/2032	EUR	430		465
Reg. S, 2.90%, 01/15/2053	EUR	390		405
Reg. S, 3.40%, 03/07/2073	EUR	460		542
Series 15YR, Reg. S, 0.00%, 10/12/2035	EUR	654		510
Series 15YR, Reg. S, 1.10%, 03/13/2034	EUR	240		222
Series 1250, Reg. S, 2.38%, 05/13/2033	EUR	350		367
Series 1409, Reg. S, 0.50%, 04/16/2026	EUR	980		1,004
Series 1439, Reg. S, 1.55%, 06/16/2048	EUR	200		161
State of Rhineland-Palatinate, (Germany),
Reg. S, 0.01%, 01/21/2031	EUR	410		370
Reg. S, 0.38%, 01/26/2027	EUR	220		221
Reg. S, 0.38%, 03/10/2051	EUR	200		110
Reg. S, 0.75%, 01/19/2026	EUR	725		750
State of Saarland, (Germany), Reg. S, 0.05%, 11/05/2040	EUR	68		46
State of Saxony-Anhalt, (Germany),
Reg. S, 0.00%, 03/10/2031	EUR	280		251
0.35%, 02/09/2032	EUR	100		90
Reg. S, 0.50%, 03/24/2051	EUR	123		71
Series 10Y, Reg. S, 0.75%, 01/29/2029	EUR	200		197
State of Schleswig-Holstein Germany, (Germany),
Reg. S, 0.05%, 07/08/2031	EUR	400		357
Reg. S, 0.13%, 06/12/2029	EUR	331		313
Reg. S, 0.38%, 02/08/2027	EUR	310		311
Reg. S, 0.50%, 03/22/2029	EUR	140		135
Reg. S, 0.63%, 08/31/2028	EUR	140		138
Reg. S, 3.00%, 08/16/2033	EUR	200		221

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
State of the Grand-Duchy of Luxembourg, (Luxembourg),
Reg. S, 0.00%, 04/28/2025	EUR	110		114
Reg. S, 0.00%, 11/13/2026	EUR	400		401
Reg. S, 0.00%, 04/28/2030	EUR	150		138
Reg. S, 0.00%, 03/24/2031	EUR	103		92
Reg. S, 0.00%, 09/14/2032	EUR	400		345
Reg. S, 1.38%, 05/25/2029	EUR	380		384
Reg. S, 1.75%, 05/25/2042	EUR	360		323
States of Guernsey Bond, (Guernsey), Reg. S, 3.38%, 12/12/2046	GBP	200		200
Svensk Exportkredit AB, (Sweden),
Zero Coupon, 05/11/2037		224		118
Reg. S, 2.00%, 06/30/2027	EUR	1,000		1,044
Sweden Government Bond, (Sweden),
Series 1053, Reg. S, 3.50%, 03/30/2039	SEK	5,820		608
Series 1056, Reg. S, 2.25%, 06/01/2032	SEK	9,200		853
Series 1058, Reg. S, 2.50%, 05/12/2025	SEK	5,100		473
Series 1059, Reg. S, 1.00%, 11/12/2026	SEK	17,300		1,549
Series 1060, Reg. S, 0.75%, 05/12/2028 (e)	SEK	16,175		1,412
Series 1061, Reg. S, 0.75%, 11/12/2029 (e)	SEK	7,090		607
Series 1062, Reg. S, 0.13%, 05/12/2031 (e)	SEK	5,705		456
Series 1063, Reg. S, 0.50%, 11/24/2045	SEK	2,100		130
Series 1064, Reg. S, 1.38%, 06/23/2071 (e)	SEK	570		34
Series 1065, Reg. S, 1.75%, 11/11/2033	SEK	2,830		250
Swiss Confederation Government Bond, (Switzerland),
Reg. S, 0.00%, 06/22/2029	CHF	1,250		1,335
Reg. S, 0.00%, 06/26/2034	CHF	1,429		1,477
Reg. S, 0.00%, 07/24/2039	CHF	969		971
Reg. S, 0.50%, 05/27/2030	CHF	540		592
Reg. S, 0.50%, 06/27/2032	CHF	990		1,081
Reg. S, 0.50%, 06/28/2045	CHF	570		611
Reg. S, 0.50%, 05/24/2055	CHF	372		393
Reg. S, 0.50%, 05/30/2058	CHF	160		171
Reg. S, 1.25%, 05/28/2026	CHF	550		614
Reg. S, 1.25%, 06/27/2037	CHF	330		392
Reg. S, 1.50%, 07/24/2025	CHF	190		212
Reg. S, 1.50%, 04/30/2042	CHF	440		557
Reg. S, 2.00%, 06/25/2064	CHF	361		601
Reg. S, 2.25%, 06/22/2031	CHF	52		64
Reg. S, 3.25%, 06/27/2027	CHF	510		609
Reg. S, 4.00%, 04/08/2028	CHF	663		829
Reg. S, 4.00%, 01/06/2049	CHF	210		409
Thailand Government Bond, (Thailand),
1.59%, 12/17/2035	THB	1,400		34
1.60%, 12/17/2029	THB	54,000		1,427
2.13%, 12/17/2026	THB	3,024		83
2.40%, 03/17/2029	THB	2,000		55
2.65%, 06/17/2028	THB	4,700		131
2.88%, 06/17/2046	THB	1,430		38
3.39%, 06/17/2037	THB	1,500		44
3.40%, 06/17/2036	THB	4,000		118

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
3.45%, 06/17/2043	THB	980		28
3.65%, 06/20/2031	THB	3,480		103
4.00%, 06/17/2066	THB	1,620		48
Series THAI, 2.75%, 06/17/2052	THB	740		18
Tokyo Metropolitan Government, (Japan), Reg. S, 0.75%, 07/16/2025		1,000		942
Treasury Corp. of Victoria, (Australia),
Reg. S, 2.25%, 09/15/2033	AUD	150		80
2.25%, 11/20/2034	AUD	500		257
2.25%, 11/20/2041	AUD	500		214
Reg. S, 2.50%, 10/22/2029	AUD	200		120
Reg. S, 4.75%, 09/15/2036	AUD	100		64
5.50%, 11/17/2026	AUD	100		67
Tyollisyysrahasto, (Finland), 0.01%, 06/16/2027	EUR	200		197
UNEDIC ASSEO, (France),
Reg. S, 0.00%, 03/05/2030	EUR	100		91
Reg. S, 0.00%, 11/19/2030	EUR	200		179
Reg. S, 0.01%, 05/25/2031	EUR	1,300		1,150
Reg. S, 0.10%, 11/25/2026	EUR	600		600
Reg. S, 0.25%, 11/25/2029	EUR	1,000		936
Reg. S, 0.25%, 07/16/2035	EUR	300		240
Reg. S, 0.50%, 05/25/2036	EUR	300		239
Reg. S, 0.63%, 03/03/2026	EUR	100		103
Reg. S, 1.25%, 10/21/2027	EUR	200		204
Reg. S, 1.25%, 05/25/2033	EUR	200		188
Reg. S, 1.75%, 11/25/2032	EUR	300		297
United Kingdom Gilt, (United Kingdom),
Reg. S, 0.13%, 01/30/2026	GBP	5,130		6,020
Reg. S, 0.13%, 01/31/2028	GBP	8,227		9,013
Reg. S, 0.25%, 07/31/2031	GBP	5,376		5,261
Reg. S, 0.38%, 10/22/2026	GBP	2,207		2,538
Reg. S, 0.38%, 10/22/2030	GBP	6,129		6,229
Reg. S, 0.50%, 01/31/2029	GBP	4,630		4,994
Reg. S, 0.50%, 10/22/2061	GBP	11,722		4,588
Reg. S, 0.63%, 06/07/2025	GBP	4,318		5,210
Reg. S, 0.63%, 07/31/2035	GBP	18,774		16,471
Reg. S, 0.63%, 10/22/2050	GBP	14,136		7,437
Reg. S, 0.88%, 10/22/2029	GBP	3,350		3,621
Reg. S, 0.88%, 07/31/2033	GBP	5,801		5,606
Reg. S, 0.88%, 01/31/2046	GBP	10,529		6,796
Reg. S, 1.00%, 01/31/2032	GBP	4,482		4,585
Reg. S, 1.13%, 01/31/2039	GBP	11,966		9,979
Reg. S, 1.13%, 10/22/2073	GBP	5,087		2,444
Reg. S, 1.25%, 07/22/2027	GBP	3,271		3,790
Reg. S, 1.25%, 10/22/2041	GBP	15,121		11,964
Reg. S, 1.25%, 07/31/2051	GBP	13,476		8,588
Reg. S, 1.50%, 07/22/2026	GBP	5,480		6,531
Reg. S, 1.50%, 07/22/2047	GBP	10,903		7,992
Reg. S, 1.50%, 07/31/2053	GBP	9,240		6,152
Reg. S, 1.63%, 10/22/2028	GBP	4,345		4,995
Reg. S, 1.63%, 10/22/2054	GBP	10,801		7,375
Reg. S, 1.63%, 10/22/2071	GBP	10,250		6,189

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, 1.75%, 09/07/2037	GBP	13,619		13,009
Reg. S, 1.75%, 01/22/2049	GBP	15,949		12,163
Reg. S, 1.75%, 07/22/2057	GBP	14,214		9,847
Reg. S, 2.00%, 09/07/2025	GBP	5,323		6,491
Reg. S, 2.50%, 07/22/2065	GBP	8,352		6,917
Reg. S, 3.25%, 01/31/2033	GBP	3,560		4,285
Reg. S, 3.25%, 01/22/2044	GBP	17,510		18,794
Reg. S, 3.50%, 10/22/2025	GBP	580		721
Reg. S, 3.50%, 01/22/2045	GBP	13,867		15,373
Reg. S, 3.50%, 07/22/2068	GBP	9,360		9,998
Reg. S, 3.75%, 03/07/2027	GBP	1,360		1,699
Reg. S, 3.75%, 01/29/2038	GBP	14,130		17,045
Reg. S, 3.75%, 07/22/2052	GBP	9,577		10,830
Reg. S, 3.75%, 10/22/2053	GBP	13,486		15,181
Reg. S, 4.00%, 01/22/2060	GBP	10,398		12,291
Reg. S, 4.00%, 10/22/2063	GBP	6,465		7,619
Reg. S, 4.13%, 01/29/2027	GBP	3,270		4,128
Reg. S, 4.25%, 12/07/2027	GBP	2,300		2,936
Reg. S, 4.25%, 06/07/2032	GBP	1,620		2,109
Reg. S, 4.25%, 03/07/2036	GBP	12,023		15,488
Reg. S, 4.25%, 09/07/2039	GBP	9,384		11,856
Reg. S, 4.25%, 12/07/2040	GBP	12,015		15,094
Reg. S, 4.25%, 12/07/2046	GBP	12,358		15,258
Reg. S, 4.25%, 12/07/2049 (ff)	GBP	8,375		10,314
Reg. S, 4.25%, 12/07/2055	GBP	10,749		13,225
Reg. S, 4.38%, 07/31/2054	GBP	2,966		3,716
Reg. S, 4.50%, 06/07/2028	GBP	1,150		1,483
Reg. S, 4.50%, 09/07/2034	GBP	13,320		17,580
Reg. S, 4.50%, 12/07/2042	GBP	10,405		13,401
Reg. S, 4.63%, 01/31/2034	GBP	1,645		2,193
Reg. S, 4.75%, 12/07/2030	GBP	2,976		3,974
Reg. S, 4.75%, 12/07/2038	GBP	10,164		13,606
Reg. S, 4.75%, 10/22/2043	GBP	4,622		6,115
Reg. S, 6.00%, 12/07/2028	GBP	912		1,258
United States Department of Housing and Urban Development, 3.26%, 08/01/2029		25		23
United States International Development Finance Corp., 3.37%, 10/05/2034		83		77
Ville de Paris, (France),
Reg. S, 1.38%, 11/20/2034	EUR	100		90
Reg. S, 1.63%, 02/02/2033	EUR	200		190
Reg. S, 1.75%, 05/25/2031	EUR	200		198
Reg. S, 3.50%, 02/02/2044	EUR	100		108
3.88%, 12/29/2025	EUR	500		542
Western Australian Treasury Corp., (Australia), Reg. S, 2.25%, 07/23/2041	AUD	50		22
Xunta de Galicia, (Spain), Reg. S, 0.27%, 07/30/2028	EUR	300		287
Total Foreign Government Securities (Cost $4,454,011)				4,320,913

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 13.7%
FHLMC Gold Pool,
3.00%, 10/01/2046		171		148
3.50%, 12/01/2044		397		358
3.50%, 06/01/2045		800		714
3.50%, 05/01/2046		128		114
3.50%, 10/01/2046		180		161
FHLMC Gold Pool, Single Family, 15 years,
3.00%, 10/01/2026		34		34
3.00%, 11/01/2026		205		200
3.00%, 01/01/2027		1,035		1,006
3.00%, 05/01/2029		3,894		3,756
3.00%, 02/01/2032		321		305
3.00%, 04/01/2032		1,658		1,569
3.00%, 05/01/2032		1,122		1,062
3.00%, 07/01/2032		612		579
3.00%, 10/01/2032		633		599
3.00%, 11/01/2032		1,113		1,052
FHLMC Gold Pool, ARM, Single Family, 30 years,
3.00%, 03/01/2046		17		15
3.00%, 12/01/2046		27		24
4.00%, 08/01/2040		261		248
4.00%, 10/01/2040		2,187		2,077
4.00%, 11/01/2040		509		483
4.00%, 11/01/2047		1,604		1,523
4.00%, 01/01/2048		34		33
FHLMC Non Gold Pool, (USD IBOR Consumer Cash Fallbacks 1 Year + 1.64%), 3.62%, 01/01/2050 (aa)		48		46
FHLMC Pool,
3.05%, 03/01/2032		885		780
3.50%, 02/01/2043		49		46
3.50%, 02/01/2044		76		69
6.00%, 08/01/2035		51		51
FHLMC Pool, Single Family, 15 years,
1.50%, 12/01/2035		341		297
1.50%, 03/01/2036		521		454
1.50%, 02/01/2037		754		653
1.50%, 03/01/2037		782		678
2.00%, 12/01/2035		672		600
2.00%, 02/01/2036		4,565		4,079
2.00%, 03/01/2036		383		342
2.00%, 05/01/2036		2,327		2,076
2.00%, 08/01/2036		1,104		985
2.00%, 10/01/2036		593		527
2.00%, 11/01/2036		3,333		2,968
2.00%, 12/01/2036		340		303

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 01/01/2037		4,059		3,616
2.00%, 04/01/2037		1,526		1,354
2.00%, 05/01/2037		946		838
2.00%, 06/01/2037		1,808		1,602
2.50%, 07/01/2032		1,830		1,709
2.50%, 10/01/2035		7,577		6,951
2.50%, 07/01/2036		1,184		1,080
2.50%, 04/01/2037		141		128
2.50%, 05/01/2037		351		320
3.00%, 04/01/2028		27		26
3.00%, 10/01/2028		978		940
3.00%, 04/01/2029		27		26
3.00%, 05/01/2030		4		4
3.00%, 06/01/2030		489		467
3.00%, 11/01/2030		93		88
3.00%, 11/01/2031		28		27
3.00%, 11/01/2032		96		90
3.00%, 01/01/2033		45		43
3.50%, 11/01/2025		165		163
3.50%, 09/01/2033		255		245
3.50%, 02/01/2034		632		607
3.50%, 05/01/2035		551		527
3.50%, 12/01/2035		49		47
3.50%, 02/01/2036		171		163
4.00%, 07/01/2025		9		9
4.00%, 05/01/2026		7		7
4.00%, 07/01/2029		166		163
4.00%, 11/01/2033		75		74
4.00%, 01/01/2034		14		13
4.00%, 08/01/2037		132		128
4.00%, 02/01/2038		138		134
FHLMC Pool, Single Family, 20 years,
3.00%, 07/01/2042		339		304
3.00%, 08/01/2042		122		109
3.50%, 06/01/2039		242		226
3.50%, 07/01/2039		141		131
3.50%, 08/01/2039		539		500
3.50%, 09/01/2039		332		309
FHLMC Pool, Single Family, 30 years,
1.50%, 02/01/2051		26		19
1.50%, 04/01/2051		47		36
1.50%, 05/01/2051		5,292		4,005
1.50%, 07/01/2051		885		669
2.00%, 09/01/2050		690		551
2.00%, 10/01/2050		4,261		3,405
2.00%, 02/01/2051		3,845		3,070
2.00%, 03/01/2051		2,791		2,234
2.00%, 05/01/2051		10,949		8,717
2.00%, 06/01/2051		1,302		1,039
2.00%, 07/01/2051		1,329		1,068
2.00%, 10/01/2051		1,698		1,362

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 11/01/2051		5,558		4,430
2.00%, 12/01/2051		4,346		3,454
2.00%, 01/01/2052		471		374
2.00%, 02/01/2052		2,106		1,673
2.00%, 03/01/2052		5,347		4,242
2.50%, 11/01/2050		21,861		18,184
2.50%, 12/01/2050		751		625
2.50%, 02/01/2051 (gg)		12,079		10,068
2.50%, 04/01/2051		392		325
2.50%, 08/01/2051 (gg)		14,640		12,303
2.50%, 11/01/2051		759		635
2.50%, 02/01/2052		2,243		1,860
2.50%, 03/01/2052		1,676		1,397
2.50%, 04/01/2052		199		166
3.00%, 02/01/2049		2,076		1,842
3.00%, 11/01/2049		1,553		1,365
3.00%, 05/01/2050		3,382		2,977
3.00%, 07/01/2050		1,704		1,471
3.00%, 08/01/2050		3,764		3,298
3.00%, 10/01/2050		767		666
3.00%, 12/01/2050		251		218
3.00%, 06/01/2051		3,104		2,685
3.00%, 07/01/2051 (gg)		5,859		5,133
3.00%, 11/01/2051 (gg)		9,139		7,882
3.00%, 12/01/2051		8,703		7,504
3.00%, 02/01/2052		2,459		2,121
3.00%, 03/01/2052		3,404		2,938
3.00%, 04/01/2052		6,330		5,473
3.50%, 03/01/2042		2		2
3.50%, 09/01/2042		2,154		1,984
3.50%, 07/01/2043		2		2
3.50%, 11/01/2047		310		283
3.50%, 02/01/2048		1,639		1,496
3.50%, 03/01/2048		276		252
3.50%, 05/01/2048		3,540		3,231
3.50%, 06/01/2048		4		3
3.50%, 01/01/2049		36		33
3.50%, 02/01/2049		510		466
3.50%, 09/01/2049		2,091		1,904
3.50%, 10/01/2049		1,911		1,740
3.50%, 04/01/2050		2,804		2,561
3.50%, 11/01/2051		455		408
3.50%, 01/01/2052		399		358
3.50%, 04/01/2052		1,722		1,544
3.50%, 06/01/2052		899		806
4.00%, 10/01/2048		2,577		2,428
4.00%, 04/01/2049		2,111		1,982
4.00%, 09/01/2049		1,349		1,275
4.00%, 05/01/2050		976		910
4.00%, 08/01/2050		1,047		978
4.00%, 09/01/2050		9,208		8,651

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 04/01/2052		53		50
4.00%, 06/01/2052		913		848
4.00%, 07/01/2052		934		867
4.00%, 08/01/2052		1,660		1,542
4.00%, 09/01/2052		560		520
4.00%, 10/01/2052		561		525
4.00%, 02/01/2053		460		432
4.50%, 12/01/2047		165		160
4.50%, 04/01/2048		392		380
4.50%, 08/01/2048		20		19
4.50%, 09/01/2048		652		630
4.50%, 08/01/2049		1,245		1,211
4.50%, 09/01/2050		855		826
4.50%, 10/01/2050		3,304		3,172
4.50%, 07/01/2052		205		196
4.50%, 08/01/2052		512		489
4.50%, 09/01/2052		2,644		2,520
4.50%, 12/01/2052		1,737		1,675
4.50%, 08/01/2053		95		91
5.00%, 12/01/2049		367		367
5.00%, 08/01/2052		254		248
5.00%, 09/01/2052		585		578
5.00%, 10/01/2052		289		283
5.00%, 11/01/2052		244		239
5.00%, 01/01/2053		435		425
5.00%, 04/01/2053		1,285		1,256
5.00%, 06/01/2053		194		191
5.50%, 11/01/2052		395		396
5.50%, 12/01/2052		1,207		1,214
5.50%, 01/01/2053		861		864
5.50%, 02/01/2053		561		564
5.50%, 04/01/2053		394		393
5.50%, 05/01/2053		1,958		1,956
5.50%, 06/01/2053		103		103
6.00%, 06/01/2053		332		337
6.00%, 08/01/2053		2,893		2,957
6.00%, 09/01/2053		880		891
6.00%, 02/01/2054		470		477
6.50%, 09/01/2053		810		830
6.50%, 10/01/2053		90		92
6.50%, 12/01/2053		1,313		1,346
6.50%, 01/01/2054		106		108
6.50%, 02/01/2054		254		260
FNMA or FHLMC, Single Family, 15 years,
TBA, 1.50%, 04/01/2039 (w)		1,241		1,075
TBA, 2.50%, 04/01/2039 (w)		1,175		1,070
TBA, 3.00%, 04/01/2039 (w)		3,175		2,957
TBA, 3.50%, 04/01/2039 (w)		4,250		4,042
TBA, 4.00%, 04/01/2039 (w)		2,175		2,107
TBA, 4.50%, 04/01/2039 (w)		6,800		6,698

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
FNMA or FHLMC, Single Family, 30 years,
TBA, 1.50%, 04/01/2054 (w)		7,300		5,503
TBA, 2.00%, 04/01/2054 (w)		4,675		3,703
TBA, 2.00%, 05/01/2054 (w)		92,000		72,992
TBA, 2.50%, 04/01/2054 (w)		13,650		11,296
TBA, 3.00%, 04/01/2054 (w)		69,578		59,924
TBA, 3.50%, 04/01/2054 (w)		66,254		59,357
TBA, 4.00%, 04/01/2054 (w)		2,675		2,480
TBA, 4.00%, 05/01/2054 (w)		13,950		12,937
TBA, 4.50%, 04/01/2054 (w)		2,418		2,305
TBA, 5.00%, 05/01/2042 (w)		7,900		7,717
TBA, 5.00%, 04/01/2054 (w)		116,304		113,568
TBA, 5.50%, 04/01/2054 (w)		8,918		8,880
TBA, 5.50%, 05/01/2054 (w)		75,600		75,277
TBA, 6.00%, 04/01/2054 (w)		6,425		6,487
TBA, 6.00%, 05/01/2054 (w)		3,700		3,735
TBA, 6.50%, 04/01/2054 (w)		82,475		84,292
TBA, 7.00%, 05/01/2054 (w)		4,300		4,429
FNMA Pool,
2.00%, 11/01/2027		268		255
2.32%, 01/01/2026		2,061		1,964
2.92%, 10/01/2025 (z)		6,702		6,506
3.00%, 12/01/2042		234		206
3.00%, 06/01/2043		973		856
3.00%, 05/01/2045		310		272
3.00%, 07/01/2045		32		28
3.00%, 11/01/2046		30		26
3.00%, 03/01/2060 (gg)		16,735		14,349
3.01%, 04/01/2032		4,070		3,626
3.02%, 03/01/2028		400		376
3.29%, 04/01/2027		2,600		2,491
3.29%, 03/01/2028		1,400		1,331
3.43%, 05/01/2028		500		477
3.44%, 01/01/2037		313		280
3.50%, 07/01/2024		8		8
3.50%, 09/01/2027		97		95
3.50%, 12/01/2028		49		47
3.50%, 08/01/2032		52		49
3.50%, 12/01/2042		138		127
3.50%, 04/01/2043		200		183
3.50%, 11/01/2043		98		90
3.50%, 02/01/2045		241		221
3.50%, 02/01/2048		724		645
3.50%, 09/01/2048		72		64
3.50%, 07/01/2049		283		251
4.00%, 04/01/2041		109		105
4.00%, 08/01/2046		94		90
4.13%, 08/01/2031		2,291		2,210
4.14%, 04/01/2028		521		510
4.25%, 01/01/2033		3,847		3,728

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
4.39%, 04/01/2033		552		539
4.50%, 06/01/2030		100		99
4.55%, 05/01/2028		100		99
4.59%, 06/01/2033		1,173		1,163
4.64%, 09/01/2028		229		229
4.79%, 06/01/2033		1,288		1,295
4.82%, 09/01/2028		700		706
4.83%, 12/01/2031		1,838		1,853
4.83%, 12/01/2032		3,271		3,298
4.88%, 09/01/2028		1,101		1,108
4.90%, 10/01/2028		355		357
4.99%, 03/01/2031		497		504
5.09%, 02/01/2031		1,748		1,782
5.17%, 08/01/2034		746		766
5.24%, 11/01/2031		1,143		1,178
5.26%, 12/01/2029		1,248		1,277
5.27%, 03/01/2031		728		749
5.42%, 08/01/2030		3,858		3,982
5.57%, 10/01/2028		435		444
5.73%, 12/01/2033		700		751
FNMA Pool, 30 years, FHA/VA, 3.00%, 01/01/2047		800		716
FNMA Pool, Single Family, 15 years,
1.50%, 10/01/2036		499		434
1.50%, 11/01/2036		443		386
1.50%, 03/01/2037		438		379
1.50%, 05/01/2037		175		152
1.50%, 08/01/2037		486		421
2.00%, 02/01/2028		11		10
2.00%, 09/01/2028		93		88
2.00%, 11/01/2028		84		79
2.00%, 07/01/2032		9		8
2.00%, 12/01/2035		754		674
2.00%, 02/01/2036		5,599		4,998
2.00%, 03/01/2036		425		379
2.00%, 08/01/2036		1,063		948
2.00%, 11/01/2036		2,175		1,940
2.00%, 12/01/2036		1,109		986
2.00%, 01/01/2037		536		477
2.00%, 02/01/2037		911		808
2.00%, 04/01/2037		1,073		956
2.00%, 05/01/2037		652		578
2.50%, 08/01/2035		219		200
2.50%, 03/01/2036		1,999		1,834
2.50%, 07/01/2036		808		737
2.50%, 08/01/2036		122		111
2.50%, 03/01/2037		232		211
2.50%, 04/01/2037		473		431
2.50%, 05/01/2037		123		112
3.00%, 10/01/2026		47		46
3.00%, 11/01/2026		712		692
3.00%, 12/01/2026		87		85
3.00%, 01/01/2027		966		938

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 02/01/2027		188		182
3.00%, 04/01/2027		357		346
3.00%, 11/01/2027		24		23
3.00%, 02/01/2028		165		160
3.00%, 10/01/2029		47		45
3.00%, 03/01/2030		33		31
3.00%, 05/01/2030		15		15
3.00%, 07/01/2030		16		16
3.00%, 09/01/2030		517		495
3.00%, 12/01/2030		24		23
3.00%, 04/01/2031		86		82
3.00%, 12/01/2031		198		188
3.00%, 02/01/2032		317		300
3.00%, 03/01/2032		309		292
3.00%, 04/01/2032		1,527		1,443
3.00%, 05/01/2032		461		435
3.00%, 07/01/2032		995		941
3.00%, 08/01/2032		393		371
3.00%, 11/01/2032		787		744
3.00%, 01/01/2033		59		55
3.00%, 07/01/2033		97		91
3.00%, 02/01/2034		1,155		1,092
3.00%, 09/01/2034		439		411
3.00%, 12/01/2035		451		427
3.50%, 12/01/2025		87		86
3.50%, 01/01/2026		266		261
3.50%, 07/01/2031		54		53
3.50%, 07/01/2034		331		319
3.50%, 03/01/2035		1,235		1,186
3.50%, 04/01/2035		782		747
3.50%, 05/01/2035		71		68
3.50%, 06/01/2035		240		230
4.00%, 03/01/2025		20		20
4.00%, 06/01/2026		43		42
4.00%, 08/01/2026		25		25
4.00%, 08/01/2027		27		26
4.00%, 12/01/2028		17		17
4.00%, 04/01/2033		466		454
4.00%, 10/01/2033		72		71
4.00%, 11/01/2033		101		100
4.00%, 12/01/2033		17		16
4.00%, 03/01/2035		611		600
4.00%, 09/01/2037		182		177
4.00%, 11/01/2037		259		251
4.00%, 05/01/2038		118		114
4.00%, 11/01/2038		74		72
FNMA Pool, Single Family, 20 years,
3.00%, 05/01/2042		705		631
3.00%, 06/01/2042		363		325
3.00%, 07/01/2042		1,336		1,195
3.50%, 03/01/2037		434		409
3.50%, 08/01/2038		96		90

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 04/01/2039		12		11
3.50%, 08/01/2039		151		141
4.50%, 06/01/2039		29		29
4.50%, 07/01/2043		948		922
FNMA Pool, Single Family, 30 years,
1.50%, 11/01/2050		1,300		983
1.50%, 06/01/2051		1,966		1,488
1.50%, 07/01/2051		1,196		905
1.50%, 04/01/2052		910		687
2.00%, 07/01/2050		1,384		1,106
2.00%, 09/01/2050		1,202		962
2.00%, 10/01/2050		919		733
2.00%, 12/01/2050		7,645		6,101
2.00%, 01/01/2051		3,942		3,159
2.00%, 02/01/2051		1,302		1,039
2.00%, 03/01/2051		1,953		1,567
2.00%, 04/01/2051		3,525		2,827
2.00%, 05/01/2051		1,754		1,403
2.00%, 06/01/2051		5,742		4,599
2.00%, 07/01/2051		3,005		2,395
2.00%, 10/01/2051		18,304		14,570
2.00%, 11/01/2051		2,203		1,761
2.00%, 12/01/2051		15,511		12,325
2.00%, 05/01/2052		3,474		2,760
2.50%, 08/01/2046		5,054		4,323
2.50%, 08/01/2050		16		14
2.50%, 10/01/2050 (gg)		11,096		9,245
2.50%, 12/01/2050 (gg)		13,209		10,958
2.50%, 02/01/2051		1,863		1,552
2.50%, 03/01/2051		5,037		4,202
2.50%, 04/01/2051 (gg)		6,313		5,230
2.50%, 07/01/2051		1,664		1,389
2.50%, 08/01/2051		3,670		3,074
2.50%, 09/01/2051		493		410
2.50%, 10/01/2051		891		740
2.50%, 11/01/2051		5,042		4,188
2.50%, 12/01/2051		14,705		12,240
2.50%, 01/01/2052		18,009		14,925
2.50%, 02/01/2052		1,034		858
2.50%, 03/01/2052 (gg)		15,534		12,898
2.50%, 04/01/2052		4,570		3,811
2.50%, 05/01/2052		877		728
2.50%, 07/01/2052		480		398
3.00%, 08/01/2046		1,101		971
3.00%, 11/01/2046		2,938		2,627
3.00%, 02/01/2047		565		505
3.00%, 04/01/2048		5,760		5,149
3.00%, 01/01/2050		2,734		2,408
3.00%, 03/01/2050		1,447		1,271
3.00%, 06/01/2050		264		230
3.00%, 07/01/2050		11,886		10,320

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 08/01/2050		3,311		2,892
3.00%, 09/01/2050		291		253
3.00%, 11/01/2050		527		458
3.00%, 12/01/2050		3,752		3,293
3.00%, 01/01/2051		1,651		1,434
3.00%, 05/01/2051 (gg)		10,499		9,080
3.00%, 06/01/2051		6,603		5,714
3.00%, 07/01/2051		1,806		1,571
3.00%, 08/01/2051		1,215		1,063
3.00%, 10/01/2051		3,085		2,662
3.00%, 11/01/2051		4,267		3,688
3.00%, 12/01/2051		2,526		2,178
3.00%, 01/01/2052		5,300		4,570
3.00%, 02/01/2052		920		799
3.00%, 03/01/2052		2,554		2,204
3.00%, 04/01/2052		7,132		6,149
3.00%, 05/01/2052		1,347		1,162
3.00%, 07/01/2052		1,361		1,178
3.50%, 07/01/2042		1		1
3.50%, 09/01/2042		150		138
3.50%, 05/01/2043		5		4
3.50%, 07/01/2043 (gg)		6,583		6,069
3.50%, 08/01/2043 (gg)		16,701		15,353
3.50%, 01/01/2044		204		188
3.50%, 10/01/2045		19		17
3.50%, 12/01/2045		1,866		1,701
3.50%, 07/01/2046		3,376		3,091
3.50%, 02/01/2047		3,802		3,497
3.50%, 07/01/2047		835		765
3.50%, 09/01/2047		59		54
3.50%, 10/01/2047		1,252		1,143
3.50%, 02/01/2048		1,992		1,819
3.50%, 03/01/2048		175		160
3.50%, 03/01/2049		321		293
3.50%, 06/01/2049		3,490		3,184
3.50%, 08/01/2049		548		500
3.50%, 04/01/2050		164		149
3.50%, 05/01/2050		3,797		3,452
3.50%, 07/01/2050		9,380		8,438
3.50%, 01/01/2051		680		617
3.50%, 03/01/2052 (gg)		12,340		11,264
3.50%, 04/01/2052		308		276
3.50%, 05/01/2052 (gg)		18,794		16,899
3.50%, 06/01/2052		6,743		6,052
3.50%, 07/01/2052		3,116		2,793
4.00%, 04/01/2039		1,194		1,144
4.00%, 03/01/2042		528		503
4.00%, 04/01/2043		205		195
4.00%, 02/01/2045		222		210

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 09/01/2046		125		119
4.00%, 09/01/2047		38		36
4.00%, 10/01/2047		465		438
4.00%, 03/01/2048		71		67
4.00%, 04/01/2048		408		386
4.00%, 06/01/2048		27		26
4.00%, 08/01/2048		117		110
4.00%, 09/01/2048		273		258
4.00%, 03/01/2049		1,100		1,036
4.00%, 06/01/2049		1,090		1,034
4.00%, 11/01/2049		456		431
4.00%, 05/01/2050		878		821
4.00%, 03/01/2051		2,334		2,188
4.00%, 05/01/2051		229		216
4.00%, 04/01/2052		55		51
4.00%, 05/01/2052		1,797		1,671
4.00%, 06/01/2052		628		584
4.00%, 07/01/2052		451		419
4.00%, 08/01/2052		1,980		1,838
4.00%, 09/01/2052		299		278
4.00%, 07/01/2053		446		418
4.50%, 05/01/2047		2		2
4.50%, 11/01/2047		584		566
4.50%, 01/01/2048		545		528
4.50%, 04/01/2048		29		28
4.50%, 08/01/2048		15		14
4.50%, 09/01/2048		411		398
4.50%, 02/01/2049		4,920		4,734
4.50%, 05/01/2049		436		421
4.50%, 08/01/2049		7		7
4.50%, 01/01/2050		151		147
4.50%, 04/01/2050		6,902		6,666
4.50%, 05/01/2052		21		20
4.50%, 06/01/2052		1,334		1,272
4.50%, 07/01/2052 (gg)		8,851		8,438
4.50%, 08/01/2052		375		358
4.50%, 09/01/2052		2,193		2,090
4.50%, 10/01/2052		926		883
4.50%, 11/01/2052		3,202		3,053
4.50%, 12/01/2052		469		447
4.50%, 08/01/2053		275		262
5.00%, 09/01/2049		942		938
5.00%, 10/01/2052		555		546
5.00%, 11/01/2052		1,063		1,044

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
5.00%, 12/01/2052		545		538
5.00%, 01/01/2053		2,288		2,240
5.00%, 03/01/2053		348		346
5.00%, 04/01/2053		954		932
5.00%, 06/01/2053		272		269
5.00%, 07/01/2053		1,254		1,224
5.00%, 08/01/2053		1,131		1,104
5.50%, 09/01/2052		315		319
5.50%, 01/01/2053		453		459
5.50%, 02/01/2053		1,904		1,901
5.50%, 03/01/2053		1,443		1,452
5.50%, 04/01/2053		1,845		1,859
5.50%, 05/01/2053		1,767		1,769
5.50%, 06/01/2053		4,027		4,058
5.50%, 09/01/2053		378		386
6.00%, 07/01/2053		1,301		1,314
6.00%, 08/01/2053		490		504
6.00%, 09/01/2053		1,986		2,027
6.00%, 12/01/2053		766		779
6.50%, 10/01/2053		796		823
6.50%, 11/01/2053		1,633		1,671
6.50%, 12/01/2053		1,430		1,484
6.50%, 01/01/2054		780		802
6.50%, 02/01/2054		803		834
GNMA I Pool, Single Family, 30 years,
3.00%, 10/15/2049		185		164
3.00%, 03/15/2050		15		13
GNMA II Pool,
2.50%, 12/20/2049		247		208
3.00%, 01/20/2047		1,197		1,060
3.00%, 02/20/2047		428		379
3.00%, 06/20/2047		503		446
3.00%, 07/20/2047		1,175		1,042
3.00%, 08/20/2047		509		452
3.00%, 09/20/2047		395		350
3.00%, 10/20/2047		411		364
3.00%, 12/20/2047		562		498
3.00%, 01/20/2048		580		514
3.00%, 08/20/2050 (gg)		623		542
3.50%, 09/20/2042		2,324		2,107
3.50%, 08/20/2045		2,243		2,034
3.50%, 09/20/2045		695		631
3.50%, 12/20/2047		3,414		3,095
3.50%, 06/20/2048		45		41
3.50%, 07/20/2048		35		32
3.50%, 08/20/2049		91		83
3.50%, 11/20/2049		154		139
3.50%, 07/20/2050		149		135

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 11/20/2041		21		19
4.00%, 10/20/2050		332		306
4.50%, 08/20/2040		17		16
4.50%, 10/20/2040		37		36
(CMT Index 1 Year + 1.84%), 6.71%, 07/20/2072 (aa) (gg)		19,276		20,227
(USD IBOR Consumer Cash Fallbacks 1 Month + 2.21%), 7.66%, 10/20/2071 (aa)		8,630		8,881
(USD IBOR Consumer Cash Fallbacks 1 Month + 2.22%), 7.66%, 02/20/2071 (aa)		2,787		2,869
GNMA II Pool, Single Family, 15 years, 2.00%, 12/20/2035		2,777		2,490
GNMA II Pool, Single Family, 30 years,
1.50%, 10/20/2051		293		231
2.00%, 07/20/2050		143		118
2.00%, 08/20/2050		4,679		3,845
2.00%, 11/20/2050		1,635		1,341
2.00%, 12/20/2050		2,721		2,234
2.00%, 01/20/2051		1,152		946
2.00%, 02/20/2051		995		817
2.00%, 10/20/2051		5,368		4,404
2.00%, 12/20/2051		5,303		4,350
2.00%, 01/20/2052		491		403
2.00%, 03/20/2052		1,342		1,102
2.00%, 04/20/2052		3,131		2,570
2.50%, 01/20/2051		296		253
2.50%, 02/20/2051		4,221		3,606
2.50%, 05/20/2051		6,156		5,255
2.50%, 07/20/2051		7,895		6,738
2.50%, 09/20/2051 (gg)		11,312		9,653
2.50%, 11/20/2051		3,375		2,879
2.50%, 12/20/2051		3,710		3,164
2.50%, 03/20/2052		888		757
2.50%, 04/20/2052		445		380
2.50%, 05/20/2052		790		674
2.50%, 07/20/2052		261		222
2.50%, 08/20/2052		433		369
3.00%, 01/20/2043		423		380
3.00%, 11/20/2043		88		79
3.00%, 03/20/2045		92		83
3.00%, 09/20/2046		1,999		1,789
3.00%, 11/20/2046		1,227		1,098
3.00%, 10/20/2047		402		359
3.00%, 04/20/2049		30		27
3.00%, 04/20/2050		7,273		6,456
3.00%, 07/20/2050		6,163		5,450
3.00%, 08/20/2050		3,346		2,958
3.00%, 08/20/2051		611		539
3.00%, 10/20/2051		2,751		2,428
3.00%, 11/20/2051		3,444		3,040
3.00%, 12/20/2051		840		742
3.00%, 01/20/2052		7,901		6,975
3.00%, 02/20/2052		340		300
3.00%, 03/20/2052		1,138		998

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 09/20/2052		899		793
3.00%, 02/20/2053		3,201		2,838
3.50%, 09/20/2045		2,496		2,310
3.50%, 09/20/2047		3,201		2,951
3.50%, 08/20/2048		163		150
3.50%, 11/20/2048		195		180
3.50%, 12/20/2048		5		5
3.50%, 03/20/2049		942		867
3.50%, 07/20/2049		919		846
3.50%, 09/20/2049		1,160		1,068
3.50%, 10/20/2049		490		450
3.50%, 12/20/2049		387		356
3.50%, 01/20/2050		581		534
3.50%, 04/20/2050		115		106
3.50%, 01/20/2052		4,147		3,777
3.50%, 02/20/2052		2,477		2,256
3.50%, 02/20/2053		3,224		2,955
4.00%, 07/20/2048		945		892
4.00%, 09/20/2048		1,608		1,524
4.00%, 11/20/2048		28		27
4.00%, 12/20/2048		808		763
4.00%, 05/20/2049		501		474
4.00%, 01/20/2050		900		852
4.00%, 03/20/2050		194		183
4.00%, 12/20/2050		2,328		2,203
4.00%, 07/20/2052		197		184
4.00%, 09/20/2052		1,771		1,658
4.00%, 12/20/2052		404		378
4.50%, 03/20/2047		425		412
4.50%, 06/20/2047		773		749
4.50%, 07/20/2047		1,404		1,374
4.50%, 10/20/2047		321		311
4.50%, 11/20/2047		991		958
4.50%, 05/20/2048		7,167		6,935
4.50%, 09/20/2048		618		582
4.50%, 11/20/2048		745		721
4.50%, 01/20/2049		1,740		1,695
4.50%, 03/20/2049		440		429
4.50%, 05/20/2049		234		219
4.50%, 10/20/2049		632		615
4.50%, 08/20/2052		1,560		1,502
4.50%, 06/20/2053		1,286		1,236
4.50%, 12/20/2053		397		382
5.00%, 12/20/2048		148		147
5.00%, 06/20/2049		318		317
5.00%, 07/20/2052		113		112
5.00%, 09/20/2052		862		849
5.00%, 12/20/2052		1,252		1,231
5.00%, 04/20/2053		1,170		1,151
5.00%, 07/20/2053		1,873		1,842

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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%, 12/20/2052		1,170		1,171
5.50%, 01/20/2053		144		144
5.50%, 03/20/2053		529		529
5.50%, 04/20/2053		1,360		1,360
5.50%, 06/20/2053		1,163		1,163
5.50%, 07/20/2053		409		413
6.00%, 09/20/2053		675		682
6.00%, 10/20/2053		1,021		1,031
6.00%, 01/20/2054		514		519
6.50%, 11/20/2053		1		1
6.50%, 12/20/2053		1,331		1,355
6.50%, 01/20/2054		635		647
7.50%, 12/20/2053		4,968		5,105
GNMA, Single Family, 30 years,
TBA, 2.00%, 04/01/2051 (w)		16,475		13,513
TBA, 3.00%, 04/01/2054 (w)		60,837		53,708
TBA, 3.50%, 04/01/2054 (w)		6,045		5,506
TBA, 4.00%, 04/01/2054 (w)		7,885		7,386
TBA, 4.50%, 04/01/2054 (w)		8,025		7,717
TBA, 5.00%, 04/01/2054 (w)		15,005		14,758
TBA, 5.50%, 04/01/2054 (w)		4,164		4,163
TBA, 6.00%, 04/01/2054 (w)		3,350		3,381
TBA, 6.50%, 04/01/2054 (w)		2,950		3,000
Total Mortgage-Backed Securities (Cost $1,730,748)				1,618,195
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		146
California — 0.1%
Bay Area Toll Authority, Build America Bonds, Series S1, Rev., 6.92%, 04/01/2040		115		131
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		11
City of San Francisco CA Public Utilities Commission Water Revenue, Rev., 6.95%, 11/01/2050		70		82
Los Angeles Community College District, Taxable, GO, 2.11%, 08/01/2032		150		126
Los Angeles County Metropolitan Transportation Authority, Build America Bonds, Rev., 5.74%, 06/01/2039		50		51
Los Angeles Department of Water & Power,
Rev., 6.57%, 07/01/2045		50		58
Rev., 6.60%, 07/01/2050		30		35
Los Angeles Unified School District, Build America Bond, GO, 5.75%, 07/01/2034		25		26
Regents of the University of California Medical Center Pooled Revenue, Build America Bonds, Series F, Rev., 6.58%, 05/15/2049		200		227
Regents of the University of California Medical Center Pooled Revenue, Taxable, Series N, Rev., 3.26%, 05/15/2060		50		34
State of California, GO, 7.55%, 04/01/2039		150		184

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
State of California, Build America Bonds,
GO, 7.35%, 11/01/2039		100		118
GO, 7.50%, 04/01/2034		50		59
GO, 7.60%, 11/01/2040		50		62
State of California, Taxable Construction Bond Bidding Group, GO, 1.75%, 11/01/2030		350		295
University of California, Taxable,
Series AQ, Rev., 4.77%, 05/15/2115		20		18
Series BJ, Rev., 3.07%, 05/15/2051		5		4
				1,530
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		828
Florida — 0.0% (g)
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.26%, 07/01/2025		100		95
Illinois — 0.0% (g)
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, Series B, Rev., 6.90%, 12/01/2040		97		110
Sales Tax Securitization Corp., Taxable, Second Lien, Series B, Rev., 3.24%, 01/01/2042		40		32
State of Illinois, Taxable Pension, GO, 5.10%, 06/01/2033		350		347
				489
Louisiana — 0.0% (g)
State of Louisiana Gasoline & Fuels Tax Revenue, Taxable, Series A, Rev., 2.95%, 05/01/2041		1,450		1,116
Massachusetts — 0.0% (g)
Commonwealth of Massachusetts, Series H, GO, 2.90%, 09/01/2049		15		11
Commonwealth of Massachusetts, Build America Bonds, GO, 4.91%, 05/01/2029		100		99
				110
Michigan — 0.0% (g)
Michigan State University, Taxable, Series A, Rev., 4.17%, 08/15/2122		115		90
University of Michigan, Taxable,
Series B, Rev., 2.56%, 04/01/2050		25		17
Series C, Rev., 3.60%, 04/01/2047		14		12
				119
Missouri — 0.0% (g)
Health & Educational Facilities Authority of the State of Missouri, Washington University, Series A, Rev., 3.23%, 05/15/2050		35		26
New Jersey — 0.0% (g)
New Jersey Transportation Trust Fund Authority, Build America Bonds, Series B, Rev., 6.56%, 12/15/2040		125		137
New Jersey Turnpike Authority, Build America Bonds, Series F, Rev., 7.41%, 01/01/2040		230		274
				411

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 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		93
New York City Municipal Water Finance Authority, Second General Resolution, Rev., 5.95%, 06/15/2042		200		212
New York City Water & Sewer System, Build America Bonds, Second General Resolution, Rev., 5.44%, 06/15/2043		30		30
Port Authority of New York & New Jersey,
Rev., 4.46%, 10/01/2062		50		45
Series 21, Rev., 3.29%, 08/01/2069		40		27
Port Authority of New York & New Jersey, Taxable Consolidated 160, Rev., 5.65%, 11/01/2040		250		268
				700
Ohio — 0.0% (g)
Ohio State University (The), Taxable, Series A, Rev., 4.80%, 06/01/2111		130		117
Oklahoma — 0.0% (g)
Oklahoma Development Finance Authority, Rev., 4.62%, 06/01/2044		10		10
Oregon — 0.0% (g)
Oregon State University, Rev., BAM, 3.42%, 03/01/2060		10		8
State of Oregon Department of Transportation, Taxable Subordinated, Build America Bonds, Series A, Rev., 5.83%, 11/15/2034		50		52
				60
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		105
City of San Antonio, Electric & Gas Systems Revenue, Build America Bonds, Rev., 5.99%, 02/01/2039		20		22
Dallas Area Rapid Transit, Build America Bonds, Rev., 5.02%, 12/01/2048		30		29
Dallas Area Rapid Transit, Taxable, Senior Lien, Series A, Rev., 2.61%, 12/01/2048		130		90
Dallas Fort Worth International Airport, Taxable,
Series A, Rev., 4.09%, 11/01/2051		425		366
Series A, Rev., 4.51%, 11/01/2051		100		92
Series C, Rev., 3.09%, 11/01/2040		100		80
North Texas Tollway Authority, Build America Bonds, Series B, Rev., 6.72%, 01/01/2049		65		77
State of Texas, Build America Bonds Taxable, GO, 5.52%, 04/01/2039		150		155
Texas Transportation Commission, Taxable Mobility Fund, GO, 2.47%, 10/01/2044		10		7
				1,023
Virginia — 0.0% (g)
University of Virginia, Taxable, Series C, Rev., 4.18%, 09/01/2117		40		32
Total Municipal Bonds (Cost $8,071)				6,819
U.S. Government Agency Securities — 0.1%
Federal Agricultural Mortgage Corp., 2.00%, 10/27/2031		1,000		829
Federal Farm Credit Banks Funding Corp.,
1.28%, 06/03/2030		540		445
1.30%, 11/04/2030		5		4
1.30%, 02/03/2031		1,235		993
1.43%, 12/11/2030		44		36

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
1.57%, 09/23/2030		490		409
2.20%, 12/09/2031		1,030		858
5.48%, 06/27/2042		1,000		989
FHLBs,
0.50%, 04/14/2025		25		24
1.28%, 12/02/2030		15		12
1.30%, 02/11/2030		10		8
1.50%, 09/11/2029		10		8
1.85%, 06/11/2035		25		19
2.05%, 03/19/2035		81		62
3.25%, 11/16/2028		25		24
FHLMC,
Zero Coupon, 12/14/2029		710		552
0.38%, 07/21/2025		25		24
1.22%, 08/19/2030		215		174
1.25%, 11/19/2030		10		8
1.38%, 07/15/2030		17		14
1.40%, 06/28/2030		30		25
1.50%, 02/12/2025		25		24
6.25%, 07/15/2032		7		8
6.75%, 03/15/2031		50		57
FHLMC STRIPs, Zero Coupon, 03/15/2031		542		396
FNMA,
Zero Coupon, 11/15/2030		445		331
0.88%, 08/05/2030		50		41
5.38%, 12/07/2028	GBP	460		602
Resolution Funding Corp. Interest STRIP,
Zero Coupon, 07/15/2027		53		46
Zero Coupon, 10/15/2027		29		25
Zero Coupon, 07/15/2028		143		118
Zero Coupon, 10/15/2028		745		610
Zero Coupon, 10/15/2029		205		160
Zero Coupon, 01/15/2030		1,230		945
Zero Coupon, 04/15/2030		2,760		2,091
Resolution Funding Corp. Principal STRIP,
Zero Coupon, 01/15/2030		1,050		806
Zero Coupon, 04/15/2030		145		110
Tennessee Valley Authority, 4.63%, 06/07/2043	GBP	200		238
United States International Development Finance Corp., 3.25%, 10/15/2030		750		714
Total U.S. Government Agency Securities (Cost $12,926)				12,839
U.S. Treasury Obligations — 10.0%
U.S. Treasury Bonds,
1.13%, 05/15/2040		47,254		29,578
1.13%, 08/15/2040		57,319		35,545
1.25%, 05/15/2050		6,206		3,181
1.38%, 11/15/2040		62,697		40,391
1.38%, 08/15/2050		57		30
1.63%, 11/15/2050		457		259
1.75%, 08/15/2041		88,985		60,155

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
1.88%, 02/15/2041		76,827		53,650
1.88%, 02/15/2051		68		41
1.88%, 11/15/2051		492		295
2.00%, 11/15/2041		70,020		49,208
2.00%, 02/15/2050		1,604		1,007
2.00%, 08/15/2051		63		39
2.25%, 05/15/2041		73,145		54,133
2.25%, 08/15/2046		469		322
2.25%, 08/15/2049		39		26
2.25%, 02/15/2052		54		36
2.38%, 02/15/2042		71,643		53,374
2.38%, 11/15/2049		35		24
2.38%, 05/15/2051		70		48
2.50%, 02/15/2045		948		694
2.50%, 02/15/2046		27		20
2.50%, 05/15/2046		417		301
2.75%, 08/15/2042		17,213		13,529
2.75%, 11/15/2042		26,125		20,482
2.75%, 08/15/2047		28		21
2.75%, 11/15/2047		710		531
2.88%, 05/15/2043		35,946		28,608
2.88%, 08/15/2045		1,195		932
2.88%, 11/15/2046		19		15
2.88%, 05/15/2049		39		30
2.88%, 05/15/2052		56		42
3.00%, 05/15/2042		11,019		9,033
3.00%, 11/15/2044		35		28
3.00%, 05/15/2045		865		691
3.00%, 11/15/2045		9		7
3.00%, 02/15/2047		26		21
3.00%, 05/15/2047		19		15
3.00%, 02/15/2048		32		25
3.00%, 08/15/2048		49		38
3.00%, 02/15/2049		2,337		1,825
3.00%, 08/15/2052		53		41
3.13%, 11/15/2041		11,621		9,778
3.13%, 02/15/2042		12,410		10,401
3.13%, 02/15/2043		22,791		18,910
3.13%, 08/15/2044		350		287
3.13%, 05/15/2048		34		27
3.25%, 05/15/2042		56,338		47,967
3.38%, 08/15/2042		46,133		39,909
3.38%, 05/15/2044		5		4
3.38%, 11/15/2048		38		32
3.50%, 02/15/2039		9,219		8,482
3.63%, 08/15/2043		26,717		23,801
3.63%, 02/15/2044		22,320		19,835
3.63%, 02/15/2053		53		47
3.63%, 05/15/2053		53		47
3.75%, 08/15/2041		9,204		8,485

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
3.75%, 11/15/2043		28,277		25,617
3.88%, 08/15/2040		17,319		16,372
3.88%, 02/15/2043		45,833		42,433
3.88%, 05/15/2043		45,972		42,494
4.00%, 11/15/2042		45,893		43,295
4.00%, 11/15/2052		53		50
4.13%, 08/15/2053		56		54
4.25%, 05/15/2039		13,609		13,599
4.25%, 11/15/2040		17,530		17,318
4.25%, 02/15/2054		38		37
4.38%, 02/15/2038		7,712		7,877
4.38%, 11/15/2039		15,412		15,570
4.38%, 05/15/2040		15,010		15,112
4.38%, 05/15/2041		9,416		9,412
4.38%, 08/15/2043 (ff)		56,016		55,430
4.50%, 02/15/2036		9,070		9,446
4.50%, 05/15/2038		8,795		9,083
4.50%, 08/15/2039		14,411		14,787
4.50%, 02/15/2044		29,172		29,373
4.63%, 02/15/2040		15,815		16,410
4.75%, 02/15/2037		5,912		6,296
4.75%, 02/15/2041		13,631		14,287
4.75%, 11/15/2043		52,162		54,191
4.75%, 11/15/2053		175		187
5.00%, 05/15/2037		6,512		7,087
5.25%, 02/15/2029		365		381
5.38%, 02/15/2031		5		5
U.S. Treasury Inflation Indexed Bonds, 2.38%, 01/15/2025		818		817
U.S. Treasury Inflation Indexed Notes,
0.13%, 10/15/2024 (ee)		961		955
0.13%, 04/15/2025		48		47
0.25%, 01/15/2025 (dd)(ee)		3,775		3,710
U.S. Treasury Notes,
0.25%, 05/31/2025		39		37
0.25%, 06/30/2025		58		55
0.25%, 07/31/2025		39		37
0.25%, 08/31/2025		39		37
0.25%, 09/30/2025		44		41
0.38%, 04/30/2025		46		44
0.38%, 11/30/2025		44		41
0.38%, 12/31/2025		47		44
0.38%, 01/31/2026		51		47
0.38%, 07/31/2027		37		32
0.38%, 09/30/2027		41		36
0.50%, 04/30/2027		32		28
0.50%, 05/31/2027		27		24
0.50%, 08/31/2027		32		28
0.50%, 10/31/2027		27		24
0.63%, 07/31/2026		91		83
0.63%, 03/31/2027		39		35

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
0.63%, 11/30/2027		8		7
0.63%, 12/31/2027		19		17
0.63%, 05/15/2030		68		55
0.63%, 08/15/2030		99		79
0.75%, 03/31/2026		58		54
0.75%, 04/30/2026		58		54
0.75%, 05/31/2026		73		67
0.75%, 08/31/2026		77		70
0.75%, 01/31/2028		39		34
0.88%, 06/30/2026		39		36
0.88%, 09/30/2026		89		81
0.88%, 11/15/2030		97		79
1.00%, 07/31/2028		614		535
1.13%, 10/31/2026		49		45
1.13%, 02/28/2027		39		36
1.13%, 02/29/2028		50		44
1.13%, 08/31/2028		116		102
1.13%, 02/15/2031		100		82
1.25%, 11/30/2026		58		53
1.25%, 12/31/2026		66		61
1.25%, 03/31/2028		19		17
1.25%, 04/30/2028		81		72
1.25%, 05/31/2028		693		613
1.25%, 06/30/2028		198		175
1.25%, 09/30/2028		70		61
1.25%, 08/15/2031		82		67
1.38%, 08/31/2026		4		4
1.38%, 10/31/2028		2,089		1,841
1.38%, 12/31/2028		97		85
1.38%, 11/15/2031		76		62
1.50%, 08/15/2026		39		36
1.50%, 01/31/2027		70		65
1.50%, 11/30/2028		39		35
1.50%, 02/15/2030		50		43
1.63%, 02/15/2026		44		42
1.63%, 05/15/2026		58		55
1.63%, 10/31/2026		23		21
1.63%, 11/30/2026		18		17
1.63%, 08/15/2029		39		34
1.63%, 05/15/2031		89		75
1.75%, 12/31/2026		32		30
1.75%, 01/31/2029		45		40
1.75%, 11/15/2029		19		17
1.88%, 06/30/2026		10		9
1.88%, 07/31/2026		10		9
1.88%, 02/28/2027		58		54
1.88%, 02/28/2029		52		47
1.88%, 02/15/2032		65		55
2.00%, 08/15/2025		47		45
2.00%, 11/15/2026		44		41

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
2.13%, 05/15/2025		43		42
2.13%, 05/31/2026		8		8
2.25%, 11/15/2025		50		48
2.25%, 03/31/2026		22		21
2.25%, 02/15/2027		46		43
2.25%, 08/15/2027		37		35
2.25%, 11/15/2027		10		9
2.38%, 04/30/2026		19		18
2.38%, 05/15/2027		47		44
2.38%, 03/31/2029		43		39
2.38%, 05/15/2029		42		38
2.50%, 03/31/2027		43		41
2.63%, 04/15/2025		17		17
2.63%, 05/31/2027		30		28
2.63%, 02/15/2029		61		57
2.63%, 07/31/2029		32		30
2.75%, 06/30/2025		31		30
2.75%, 04/30/2027		58		55
2.75%, 07/31/2027		35		33
2.75%, 02/15/2028		1,019		962
2.75%, 05/31/2029		39		36
2.75%, 08/15/2032		62		56
2.88%, 04/30/2025		35		34
2.88%, 06/15/2025		97		95
2.88%, 07/31/2025		39		38
2.88%, 11/30/2025		50		49
2.88%, 05/15/2028		58		55
2.88%, 08/15/2028		70		66
2.88%, 04/30/2029		39		37
2.88%, 05/15/2032		1,547		1,406
3.00%, 07/15/2025		4,039		3,945
3.00%, 09/30/2025		19		19
3.00%, 10/31/2025		1,185		1,153
3.13%, 08/15/2025		39		38
3.13%, 08/31/2027		39		38
3.13%, 11/15/2028		2,683		2,557
3.13%, 08/31/2029		31		29
3.25%, 06/30/2027		40		39
3.25%, 06/30/2029		39		37
3.38%, 05/15/2033		73		68
3.50%, 09/15/2025		35		34
3.50%, 01/31/2028		19		18
3.50%, 04/30/2028		19		18
3.50%, 01/31/2030		23		22
3.50%, 04/30/2030		29		28
3.50%, 02/15/2033		784		743
3.63%, 05/15/2026		58		57
3.63%, 03/31/2028		27		26
3.63%, 05/31/2028		29		28
3.63%, 03/31/2030		30		29

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
3.75%, 04/15/2026		35		34
3.75%, 12/31/2028		78		76
3.75%, 05/31/2030		39		38
3.75%, 06/30/2030		31		30
3.75%, 12/31/2030		57		55
3.88%, 01/15/2026		39		38
3.88%, 11/30/2027		72		71
3.88%, 12/31/2027		33		33
3.88%, 09/30/2029		31		30
3.88%, 11/30/2029		317		312
3.88%, 12/31/2029		441		433
3.88%, 08/15/2033		155		151
4.00%, 12/15/2025		66		65
4.00%, 02/15/2026		58		57
4.00%, 01/15/2027		3,310		3,271
4.00%, 02/29/2028		35		35
4.00%, 06/30/2028		35		35
4.00%, 01/31/2029		46		46
4.00%, 10/31/2029		39		39
4.00%, 02/28/2030		27		27
4.00%, 07/31/2030		46		45
4.00%, 01/31/2031		110		109
4.00%, 02/15/2034		130		128
4.13%, 06/15/2026		77		76
4.13%, 02/15/2027		144		143
4.13%, 09/30/2027		44		44
4.13%, 10/31/2027		27		27
4.13%, 07/31/2028		137		136
4.13%, 03/31/2029 (w)		34		34
4.13%, 08/31/2030		31		31
4.13%, 03/31/2031 (w)		25		25
4.13%, 11/15/2032		6,224		6,187
4.25%, 05/31/2025		2,577		2,556
4.25%, 10/15/2025		56		56
4.25%, 12/31/2025		77		76
4.25%, 03/15/2027		30		30
4.25%, 02/28/2029		78		78
4.25%, 02/28/2031		61		61
4.38%, 08/15/2026		58		58
4.38%, 12/15/2026		107		107
4.38%, 08/31/2028		174		175
4.38%, 11/30/2028		452		455
4.38%, 11/30/2030		3,458		3,489
4.50%, 11/15/2025		39		39
4.50%, 07/15/2026		58		58
4.50%, 11/15/2033		347		355
4.63%, 06/30/2025		590		588
4.63%, 02/28/2026		40		40
4.63%, 03/15/2026		77		77
4.63%, 09/15/2026		52		52

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
4.63%, 10/15/2026		39		39
4.63%, 11/15/2026		46		46
4.63%, 09/30/2028		8		8
4.63%, 09/30/2030		31		32
4.75%, 07/31/2025		66		66
4.88%, 11/30/2025		1,436		1,438
4.88%, 10/31/2028		38		39
4.88%, 10/31/2030		32		33
5.00%, 08/31/2025		2,433		2,438
U.S. Treasury STRIP Coupon Bonds,
Zero Coupon, 05/15/2024		800		795
Zero Coupon, 05/15/2026		5,000		4,539
Zero Coupon, 11/15/2026		5,000		4,448
Zero Coupon, 11/15/2028 (ee) (ff) (jj)		12,000		9,852
Zero Coupon, 11/15/2038 (ee)		6,250		3,267
Zero Coupon, 11/15/2041		200		89
Zero Coupon, 08/15/2045		600		224
Total U.S. Treasury Obligations (Cost $1,219,080)				1,184,006
Short-Term Investments — 1.2%
Time Deposits — 1.2%
Australia & New Zealand Banking Group Ltd.,
3.08%, 04/02/2024	AUD	15		10
3.62%, 04/02/2024	NZD	36		21
4.68%, 03/29/2024		2,698		2,698
BNP Paribas SA,
0.52%, 04/02/2024	CHF	596		661
3.79%, 04/01/2024	CAD	4		3
Brown Brothers Harriman & Co.,
2.36%, 04/02/2024	HKD	6		1
2.52%, 04/02/2024	DKK	1,346		195
2.64%, 04/01/2024	SGD	8		6
3.28%, 04/02/2024	NOK	2,823		260
Citibank NA,
2.85%, 04/02/2024	EUR	12,322		13,293
4.68%, 03/29/2024		79,363		79,363
Royal Bank of Canada,
4.15%, 04/02/2024	GBP	4,824		6,089
4.68%, 03/29/2024		5,090		5,090
Skandinaviska Enskilda Banken AB, 2.79%, 04/02/2024	SEK	2,922		273
Sumitomo Mitsui Banking Corp.,
(0.25%), 03/29/2024	JPY	23,819		157
4.68%, 03/29/2024		10,179		10,179
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 03/29/2024		25,340		25,340
Total Time Deposits				143,639

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
U.S. Treasury Obligations — 0.0% (g)
U.S. Treasury Bills,
5.29%, 04/11/2024		21		21
5.31%, 06/13/2024 (ee)		624		617
5.49%, 04/18/2024		1,648		1,644
Total U.S. Treasury Obligations				2,282
Total Short-Term Investments (Cost $145,921)				145,921
Total Investments, Before Short Positions — 105.5% (Cost - $12,768,321)*				12,477,235
Liabilities in Excess of Other Assets — (5.5)%				(649,897	)
NET ASSETS — 100.0%			$	11,827,338
Short Positions — 2.3%
Mortgage-Backed Securities — 2.3%
FHLMC Pool, Single Family, 15 years,
3.50%, 12/01/2035		49		47
3.50%, 02/01/2036		171		162
FNMA or FHLMC, Single Family, 15 years,
TBA, 2.00%, 04/01/2039 (w)		200		177
TBA, 3.00%, 04/01/2039 (w)		4,500		4,191
TBA, 3.50%, 04/01/2039 (w)		100		95
TBA, 4.00%, 04/01/2039 (w)		1,600		1,550
FNMA or FHLMC, Single Family, 30 years,
TBA, 2.50%, 04/01/2054 (w)		8,800		7,282
TBA, 2.50%, 05/01/2054 (w)		8,800		7,292
TBA, 3.00%, 04/01/2054 (w)		66,300		57,101
TBA, 3.00%, 05/01/2054 (w)		66,300		57,163
TBA, 3.50%, 04/01/2054 (w)		64,465		57,754
TBA, 3.50%, 05/01/2054 (w)		64,465		57,795
TBA, 4.50%, 04/01/2054 (w)		4,000		3,813
TBA, 4.50%, 05/01/2054 (w)		7,800		7,438
FNMA Pool, Single Family, 15 years,
3.50%, 06/01/2035		240		230
3.50%, 04/01/2035		782		747
GNMA II Pool, Single Family, 30 years, 4.00%, 12/20/2050		2,328		2,203
GNMA, Single Family, 30 years, TBA, 2.50%, 04/01/2054 (w)		11,300		9,635
Total Mortgage-Backed Securities (Proceeds $275,685)				274,675
Total Securities Sold Short — 2.3% (Proceeds $275,685)*				274,675

Percentages indicated are based on net assets.

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Futures contracts outstanding as of March 31, 2024:

Exchange Traded

DESCRIPTION	NUMBER OF CONTRACTS			EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT ($)			VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($)
Long Contracts
Euro Bund		111			06/2024		EUR		15,841			131
Euro Buxl		96			06/2024		EUR		13,681			384
Euro Schatz		55			06/2024		EUR		6,271			1
Long Gilt		154			06/2024		GBP		19,113			313
SOFR 3 Month		1,813			03/2024		USD		429,908			(805	)
U.S. Treasury 10 Year Note		180			06/2024		USD		19,873			70
U.S. Treasury 2 Year Note		82			06/2024		USD		16,782			(14	)
U.S. Treasury 5 Year Note		108			06/2024		USD		11,557			1
U.S. Treasury Long Bond		206			06/2024		USD		24,462			348
U.S. Treasury Ultra Bond		79			06/2024		USD		10,068			123
U.S. Ultra Treasury 10 Year Note		9			06/2024		USD		1,025			6
												558
Short Contracts
Euro BOBL		(490	)		06/2024		EUR		(62,173	)		(338	)
Euro Bund		(218	)		06/2024		EUR		(31,185	)		(185	)
SOFR 3 Month		(1,229	)		06/2024		USD		(292,717	)		1,244
SOFR 3 Month		(690	)		09/2024		USD		(165,057	)		949
SOFR 3 Month		(200	)		12/2025		USD		(48,335	)		212
U.S. Treasury 10 Year Note		(300	)		06/2024		USD		(33,109	)		(130	)
U.S. Treasury 2 Year Note		(90	)		06/2024		USD		(18,418	)		15
U.S. Treasury 5 Year Note		(10	)		06/2024		USD		(1,067	)		(3	)
U.S. Treasury Long Bond		(13	)		06/2024		USD		(1,537	)		(28	)
U.S. Ultra Treasury 10 Year Note		(104	)		06/2024		USD		(11,851	)		(68	)
												1,668
Total unrealized appreciation (depreciation)												2,226

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024:

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE	UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	393	AUD	602	Citibank, NA	04/02/2024		—	(h)
CNY	51,000	USD	7,056	Brown Brothers Harriman & Co.	04/02/2024		—	(h)
USD	1,532	CNY	11,000	Brown Brothers Harriman & Co.	04/02/2024		10
USD	418	CNY	3,000	Brown Brothers Harriman & Co.	04/02/2024		3
USD	2,465	CNY	17,700	Brown Brothers Harriman & Co.	04/02/2024		16
USD	697	CNY	5,000	Brown Brothers Harriman & Co.	04/02/2024		5
USD	7,109	CNY	51,000	Brown Brothers Harriman & Co.	04/02/2024		53
USD	1,010,556	CNY	7,251,000	Brown Brothers Harriman & Co.	04/02/2024		7,298
USD	934	CNY	6,700	Brown Brothers Harriman & Co.	04/02/2024		7
USD	1,997	DKK	13,737	Bank of America, NA	04/02/2024		10
USD	240	DKK	1,655	Morgan Stanley & Co.	04/02/2024		1
USD	5,619	EUR	5,157	Bank of America, NA	04/02/2024		56
USD	3,117	EUR	2,868	Bank of America, NA	04/02/2024		23
USD	6,061	EUR	5,600	Bank of America, NA	04/02/2024		20
USD	833	EUR	764	Barclays Bank plc	04/02/2024		9
USD	97,985	EUR	90,270	Citibank, NA	04/02/2024		596
USD	53,041	EUR	48,865	Citibank, NA	04/02/2024		323
USD	71,494	EUR	65,777	Deutsche Bank AG	04/02/2024		531
USD	98,077	EUR	90,270	Morgan Stanley & Co.	04/02/2024		688
USD	878	EUR	801	Morgan Stanley & Co.	04/02/2024		14
USD	53,091	EUR	48,865	Morgan Stanley & Co.	04/02/2024		373
USD	28,789	GBP	22,701	HSBC Bank plc	04/02/2024		137
USD	15,859	GBP	12,505	HSBC Bank plc	04/02/2024		75
GBP	22,701	USD	28,610	Morgan Stanley & Co.	04/02/2024		42
GBP	12,370	USD	15,590	Morgan Stanley & Co.	04/02/2024		23
USD	57,080	JPY	8,549,960	Morgan Stanley & Co.	04/02/2024		600
USD	7	AUD	10	Goldman Sachs International	04/03/2024		—	(h)
USD	13	AUD	20	Morgan Stanley & Co.	04/03/2024		—	(h)
USD	378	AUD	580	Morgan Stanley & Co.	04/03/2024		—	(h)
AUD	3,910	USD	2,547	Royal Bank of Canada	04/03/2024		1
USD	580	AUD	890	UBS AG London	04/03/2024		—	(h)
USD	4,057	CHF	3,560	Morgan Stanley & Co.	04/03/2024		109
USD	11	CHF	10	Morgan Stanley & Co.	04/03/2024		—	(h)
USD	11,837	CHF	10,387	Morgan Stanley & Co.	04/03/2024		319
CHF	3,570	USD	3,944	UBS AG London	04/03/2024		15
CHF	10,390	USD	11,477	UBS AG London	04/03/2024		45
CZK	224,750	USD	9,581	Goldman Sachs International	04/03/2024		1
USD	9,599	CZK	224,749	UBS AG London	04/03/2024		17
USD	1,194	DKK	8,205	Goldman Sachs International	04/03/2024		8
USD	6,974	DKK	47,907	Goldman Sachs International	04/03/2024		45
USD	31	DKK	215	Morgan Stanley & Co.	04/03/2024		—	(h)
USD	193	DKK	1,330	Morgan Stanley & Co.	04/03/2024		1
USD	326	EUR	300	Bank of America, NA	04/03/2024		2
USD	10,607	EUR	9,700	Bank of America, NA	04/03/2024		142
USD	120,578	EUR	111,140	Bank of America, NA	04/03/2024		670
USD	552	EUR	510	Bank of America, NA	04/03/2024		2

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE	UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	730	EUR	670	Bank of America, NA	04/03/2024		8
USD	739	EUR	680	Bank of America, NA	04/03/2024		5
EUR	20,291	USD	21,880	Bank of America, NA	04/03/2024		12
USD	1,169	EUR	1,080	Bank of America, NA	04/03/2024		4
USD	72,778	EUR	67,100	Bank of New York Mellon	04/03/2024		384
EUR	112,177	USD	120,980	Barclays Bank plc	04/03/2024		47
USD	120,590	EUR	111,140	Barclays Bank plc	04/03/2024		682
USD	433	EUR	400	Barclays Bank plc	04/03/2024		2
USD	256	EUR	236	Barclays Bank plc	04/03/2024		2
USD	72,779	EUR	67,106	BNP Paribas	04/03/2024		379
USD	72,806	EUR	67,100	Deutsche Bank AG	04/03/2024		412
USD	1,155	EUR	1,060	Deutsche Bank AG	04/03/2024		11
EUR	74	SEK	850	Goldman Sachs International	04/03/2024		—	(h)
USD	2,735	EUR	2,529	Morgan Stanley & Co.	04/03/2024		7
USD	6,802	EUR	6,270	Morgan Stanley & Co.	04/03/2024		38
USD	949,394	EUR	874,028	Morgan Stanley & Co.	04/03/2024		6,412
USD	1,580	EUR	1,450	Morgan Stanley & Co.	04/03/2024		16
USD	72,812	EUR	67,100	Morgan Stanley & Co.	04/03/2024		419
USD	3,000	EUR	2,775	Morgan Stanley & Co.	04/03/2024		7
USD	3,819,195	EUR	3,516,016	Morgan Stanley & Co.	04/03/2024		25,794
USD	49	EUR	45	Morgan Stanley & Co.	04/03/2024		—	(h)
USD	43	EUR	40	Morgan Stanley & Co.	04/03/2024		—	(h)
USD	19,227	EUR	17,650	Morgan Stanley & Co.	04/03/2024		184
USD	88,953	EUR	82,100	Morgan Stanley & Co.	04/03/2024		376
USD	72,833	EUR	67,100	Standard Chartered Bank	04/03/2024		439
USD	2,594	EUR	2,396	Standard Chartered Bank	04/03/2024		9
USD	120,995	EUR	111,471	Standard Chartered Bank	04/03/2024		729
USD	1,390	EUR	1,280	Standard Chartered Bank	04/03/2024		9
USD	643	EUR	590	Standard Chartered Bank	04/03/2024		7
USD	942	EUR	870	Standard Chartered Bank	04/03/2024		3
USD	1,042	EUR	960	Standard Chartered Bank	04/03/2024		7
USD	2,521	EUR	2,320	Standard Chartered Bank	04/03/2024		18
USD	1,094	EUR	1,010	Standard Chartered Bank	04/03/2024		4
USD	2,162	EUR	1,990	Standard Chartered Bank	04/03/2024		15
USD	512	EUR	470	Standard Chartered Bank	04/03/2024		5
USD	700	EUR	648	UBS AG London	04/03/2024		1
USD	1,199	EUR	1,100	UBS AG London	04/03/2024		13
USD	606	EUR	560	UBS AG London	04/03/2024		2
USD	227	EUR	210	UBS AG London	04/03/2024		—	(h)
USD	22,336	EUR	20,611	Westpac Banking Corp.	04/03/2024		99
USD	344	GBP	270	Bank of America, NA	04/03/2024		3
USD	57,748	GBP	45,656	Bank of New York Mellon	04/03/2024		123
USD	3,510	GBP	2,779	BNP Paribas	04/03/2024		3
USD	57,755	GBP	45,660	BNP Paribas	04/03/2024		125
USD	57,776	GBP	45,660	Deutsche Bank AG	04/03/2024		145
USD	639,292	GBP	505,507	Goldman Sachs International	04/03/2024		1,263
USD	1,269	GBP	1,005	Morgan Stanley & Co.	04/03/2024		—	(h)
USD	13,537	GBP	10,700	Morgan Stanley & Co.	04/03/2024		32

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE	UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	57,784	GBP	45,660	Morgan Stanley & Co.	04/03/2024		154
USD	1,054	GBP	830	Morgan Stanley & Co.	04/03/2024		7
USD	57,823	GBP	45,660	Standard Chartered Bank	04/03/2024		193
USD	187,111	GBP	147,994	UBS AG London	04/03/2024		320
USD	392	GBP	310	UBS AG London	04/03/2024		—	(h)
USD	901	GBP	710	UBS AG London	04/03/2024		4
USD	191	GBP	150	UBS AG London	04/03/2024		2
GBP	141,890	USD	179,064	UBS AG London	04/03/2024		24
USD	347	GBP	275	UBS AG London	04/03/2024		—	(h)
USD	709	GBP	561	UBS AG London	04/03/2024		1
USD	24	HKD	190	Toronto-Dominion Bank (The)	04/03/2024		—	(h)
USD	230	HUF	83,930	Citibank, NA	04/03/2024		—	(h)
USD	4,652	HUF	1,692,556	Goldman Sachs International	04/03/2024		15
HUF	1,776,490	USD	4,853	Goldman Sachs International	04/03/2024		14
USD	72	JPY	10,670	Goldman Sachs International	04/03/2024		1
USD	539	JPY	80,320	Morgan Stanley & Co.	04/03/2024		9
USD	21,584	JPY	3,223,506	Morgan Stanley & Co.	04/03/2024		287
USD	691	NOK	7,315	Morgan Stanley & Co.	04/03/2024		17
USD	4,402	NOK	46,695	Morgan Stanley & Co.	04/03/2024		100
USD	299	NZD	492	Morgan Stanley & Co.	04/03/2024		5
NZD	492	USD	293	UBS AG London	04/03/2024		1
PLN	53,440	USD	13,360	Morgan Stanley & Co.	04/03/2024		19
USD	13,415	PLN	53,438	Westpac Banking Corp.	04/03/2024		37
USD	6,483	RON	29,755	Goldman Sachs International	04/03/2024		24
RON	29,760	USD	6,459	Goldman Sachs International	04/03/2024		2
USD	7,819	SEK	80,810	Morgan Stanley & Co.	04/03/2024		269
USD	3,346	SEK	34,588	Morgan Stanley & Co.	04/03/2024		115
USD	52	SEK	540	Morgan Stanley & Co.	04/03/2024		2
USD	31	SEK	325	Morgan Stanley & Co.	04/03/2024		1
SGD	591	USD	437	Bank of America, NA	04/03/2024		—	(h)
USD	440	SGD	591	Morgan Stanley & Co.	04/03/2024		2
USD	7,066	AUD	10,547	Morgan Stanley & Co.	04/19/2024		190
USD	10,197	CAD	13,708	Morgan Stanley & Co.	04/19/2024		75
USD	118	CAD	159	Morgan Stanley & Co.	04/19/2024		1
USD	2,924	CHF	2,476	Morgan Stanley & Co.	04/19/2024		173
USD	967	CZK	22,045	Morgan Stanley & Co.	04/19/2024		27
USD	686	DKK	4,651	HSBC Bank plc	04/19/2024		13
USD	306	EUR	282	Bank of America, NA	04/19/2024		1
USD	405	EUR	371	Bank of America, NA	04/19/2024		5
USD	2,774	EUR	2,555	Morgan Stanley & Co.	04/19/2024		16
USD	384	EUR	355	Morgan Stanley & Co.	04/19/2024		—	(h)
USD	1,227	EUR	1,123	Morgan Stanley & Co.	04/19/2024		15
USD	163	HUF	57,471	Bank of America, NA	04/19/2024		6
USD	304	HUF	105,891	Goldman Sachs International	04/19/2024		15
USD	353	NOK	3,663	Citibank, NA	04/19/2024		15
USD	699	NZD	1,136	Citibank, NA	04/19/2024		20
USD	578	RON	2,629	Barclays Bank plc	04/19/2024		8
USD	1,112	SEK	11,538	Goldman Sachs International	04/19/2024		33

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE	UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	1,650	CNH	11,797	Bank of America, NA	04/24/2024		25
USD	419	CNH	3,010	HSBC Bank plc	04/24/2024		4
USD	1,307	CNH	9,330	Morgan Stanley & Co.	04/24/2024		22
USD	473	CNH	3,434	Morgan Stanley & Co.	04/24/2024		—	(h)
USD	54,783	CNH	391,211	Morgan Stanley & Co.	04/24/2024		876
USD	72	AUD	110	Deutsche Bank AG	05/02/2024		—	(h)
USD	26	AUD	40	Morgan Stanley & Co.	05/02/2024		—	(h)
CAD	4,088	USD	3,013	Morgan Stanley & Co.	05/02/2024		6
CHF	40	USD	44	Bank of America, NA	05/02/2024		—	(h)
CHF	125	EUR	128	Bank of America, NA	05/02/2024		1	(h)
CHF	200	USD	222	Goldman Sachs International	05/02/2024		1
USD	22	CHF	20	Morgan Stanley & Co.	05/02/2024		—	(h)
USD	234	CHF	210	Morgan Stanley & Co.	05/02/2024		—	(h)
USD	239	CHF	215	Morgan Stanley & Co.	05/02/2024		—	(h)
USD	33	CHF	30	Morgan Stanley & Co.	05/02/2024		—	(h)
USD	986	DKK	6,759	Bank of America, NA	05/02/2024		7
USD	6,943	DKK	47,910	Bank of America, NA	05/02/2024		3
USD	1,413	DKK	9,750	Bank of America, NA	05/02/2024		—	(h)
USD	1,251	DKK	8,605	BNP Paribas	05/02/2024		5
USD	9	DKK	65	Morgan Stanley & Co.	05/02/2024		—	(h)
USD	121,626	EUR	112,545	Bank of America, NA	05/02/2024		61
USD	120,870	EUR	111,845	Bank of America, NA	05/02/2024		61
USD	1,946,664	EUR	1,799,366	Bank of New York Mellon	05/02/2024		3,084
USD	843	EUR	780	Barclays Bank plc	05/02/2024		1
USD	5,677	EUR	5,250	Barclays Bank plc	05/02/2024		6
USD	98,129	EUR	90,363	Citibank, NA	05/02/2024		524
USD	53,307	EUR	49,088	Citibank, NA	05/02/2024		285
USD	779	EUR	720	Deutsche Bank AG	05/02/2024		1
USD	122,013	EUR	112,885	Deutsche Bank AG	05/02/2024		80
USD	904,748	EUR	836,150	Goldman Sachs International	05/02/2024		1,583
USD	2,911	EUR	2,692	HSBC Bank plc	05/02/2024		3
USD	82,926	EUR	76,534	Morgan Stanley & Co.	05/02/2024		258
USD	6,087	EUR	5,630	Morgan Stanley & Co.	05/02/2024		6
USD	21,625	EUR	20,000	Morgan Stanley & Co.	05/02/2024		22
USD	81	EUR	75	Morgan Stanley & Co.	05/02/2024		—	(h)
USD	1,276	EUR	1,180	Morgan Stanley & Co.	05/02/2024		1
USD	43,358	EUR	40,100	Morgan Stanley & Co.	05/02/2024		44
USD	53,216	EUR	49,088	Morgan Stanley & Co.	05/02/2024		195
USD	9,477	EUR	8,765	Morgan Stanley & Co.	05/02/2024		10
USD	5,277	EUR	4,880	Morgan Stanley & Co.	05/02/2024		5
USD	200	EUR	185	Morgan Stanley & Co.	05/02/2024		—	(h)
USD	97,963	EUR	90,363	Morgan Stanley & Co.	05/02/2024		358
USD	121,747	EUR	112,545	Standard Chartered Bank	05/02/2024		182
USD	120,989	EUR	111,845	Standard Chartered Bank	05/02/2024		180
USD	1,947,152	EUR	1,799,370	UBS AG London	05/02/2024		3,568
USD	96,260	GBP	76,225	Bank of America, NA	05/02/2024		37
USD	96,571	GBP	76,455	Deutsche Bank AG	05/02/2024		57
USD	354	GBP	280	Deutsche Bank AG	05/02/2024		—	(h)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE		UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	509	GBP	403	HSBC Bank plc		05/02/2024		—	(h)
USD	6,671	GBP	5,280	Morgan Stanley & Co.		05/02/2024		6
USD	234	GBP	185	Morgan Stanley & Co.		05/02/2024		—	(h)
USD	2,937	GBP	2,325	Morgan Stanley & Co.		05/02/2024		3
USD	11,497	GBP	9,100	Morgan Stanley & Co.		05/02/2024		10
USD	96,348	GBP	76,225	Standard Chartered Bank		05/02/2024		125
USD	651,668	GBP	516,207	UBS AG London		05/02/2024		31
USD	708	GBP	561	UBS AG London		05/02/2024		—	(h)
USD	24	HKD	190	Bank of New York Mellon		05/02/2024		—	(h)
JPY	25,559	USD	170	Bank of America, NA		05/02/2024		—	(h)
USD	21,997	JPY	3,314,496	Bank of New York Mellon		05/02/2024		2
USD	329	JPY	49,560	Deutsche Bank AG		05/02/2024		—	(h)
USD	56,873	JPY	8,549,960	Goldman Sachs International		05/02/2024		134
USD	4,991	NOK	54,010	Bank of America, NA		05/02/2024		12
USD	343	PLN	1,370	Morgan Stanley & Co.		05/02/2024		1
USD	703	RON	3,235	Morgan Stanley & Co.		05/02/2024		1
USD	51	SEK	540	Bank of America, NA		05/02/2024		—	(h)
USD	3,273	SEK	34,913	Bank of America, NA		05/02/2024		8
USD	7,242	SEK	77,240	Bank of America, NA		05/02/2024		17
USD	25	SEK	270	Morgan Stanley & Co.		05/02/2024		—	(h)
USD	233	SEK	2,485	Morgan Stanley & Co.		05/02/2024		—	(h)
USD	94	SEK	1,005	Morgan Stanley & Co.		05/02/2024		—	(h)
USD	1,784	IDR	27,858,741	Barclays Bank plc		06/20/2024		30
USD	1,004	IDR	15,604,552	Morgan Stanley & Co.		06/20/2024		22
USD	799	ILS	2,907	Goldman Sachs International		06/20/2024		5
USD	2,585	KRW	3,374,950	UBS AG London		06/20/2024		67
MXN	2,566	USD	150	Barclays Bank plc		06/20/2024		2
USD	1,315	MYR	6,136	Goldman Sachs International		06/20/2024		12
USD	753	MYR	3,510	Morgan Stanley & Co.		06/20/2024		8
USD	175	PEN	645	Citibank, NA		06/20/2024		2
USD	1,268	SGD	1,689	Morgan Stanley & Co.		06/20/2024		13
USD	696	THB	24,499	Goldman Sachs International		06/20/2024		20
USD	1,354	THB	48,057	Morgan Stanley & Co.		06/20/2024		28
USD	337	CLP	319,372	Citibank, NA		06/21/2024		11
Total unrealized appreciation								64,915
AUD	602	USD	396	HSBC Bank plc		04/02/2024		(3	)
CAD	4,088	USD	3,029	Goldman Sachs International		04/02/2024		(11	)
USD	3,012	CAD	4,088	Morgan Stanley & Co.		04/02/2024		(6	)
CNY	7,363,200	USD	1,019,128	Brown Brothers Harriman & Co.		04/02/2024		(345	)
EUR	919	USD	996	Bank of America, NA		04/02/2024		(4	)
EUR	765	USD	837	Barclays Bank plc		04/02/2024		(12	)
EUR	90,363	USD	98,011	Citibank, NA		04/02/2024		(524	)
EUR	49,088	USD	53,243	Citibank, NA		04/02/2024		(284	)
EUR	1,120	USD	1,214	HSBC Bank plc		04/02/2024		(5	)
EUR	76,534	USD	82,825	Morgan Stanley & Co.		04/02/2024		(256	)
EUR	1,000	USD	1,097	Morgan Stanley & Co.		04/02/2024		(18	)
EUR	49,088	USD	53,152	Morgan Stanley & Co.		04/02/2024		(194	)
EUR	90,363	USD	97,845	Morgan Stanley & Co.		04/02/2024		(357	)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE	UNREALIZED APPRECIATION (DEPRECIATION) ($)
GBP	58	USD	73	Barclays Bank plc	04/02/2024		(—	)(h)
GBP	135	USD	171	Morgan Stanley & Co.	04/02/2024		(1	)
JPY	8,549,960	USD	56,615	Goldman Sachs International	04/02/2024		(135	)
USD	632	AUD	970	Bank of New York Mellon	04/03/2024		(—	)(h)
USD	936	AUD	1,440	Bank of New York Mellon	04/03/2024		(2	)
EUR	128	CHF	125	Bank of America, NA	04/03/2024		(1	)(h)
USD	44	CHF	40	Bank of America, NA	04/03/2024		(—	)(h)
USD	221	CHF	200	Goldman Sachs International	04/03/2024		(1	)
CHF	200	USD	228	Morgan Stanley & Co.	04/03/2024		(6	)
CHF	125	EUR	131	UBS AG London	04/03/2024		(3	)
CHF	40	USD	46	Westpac Banking Corp.	04/03/2024		(1	)
DKK	9,750	USD	1,411	Bank of America, NA	04/03/2024		(—	)(h)
DKK	47,910	USD	6,933	Bank of America, NA	04/03/2024		(3	)
EUR	111,845	USD	120,729	Bank of America, NA	04/03/2024		(60	)
EUR	112,545	USD	121,484	Bank of America, NA	04/03/2024		(61	)
EUR	1,799,366	USD	1,944,395	Bank of New York Mellon	04/03/2024		(3,074	)
EUR	7,040	USD	7,628	Barclays Bank plc	04/03/2024		(32	)
EUR	196	USD	212	Barclays Bank plc	04/03/2024		(1	)(h)
EUR	13,565	USD	14,698	Citibank, NA	04/03/2024		(62	)
EUR	112,885	USD	121,871	Deutsche Bank AG	04/03/2024		(80	)
EUR	9,000	USD	9,751	Deutsche Bank AG	04/03/2024		(41	)
EUR	836,150	USD	903,694	Goldman Sachs International	04/03/2024		(1,579	)
SEK	850	EUR	76	Goldman Sachs International	04/03/2024		(3	)
EUR	185	USD	200	Morgan Stanley & Co.	04/03/2024		(1	)
EUR	220	USD	238	Morgan Stanley & Co.	04/03/2024		(1	)
EUR	33,000	USD	35,755	Morgan Stanley & Co.	04/03/2024		(152	)
EUR	28,730	USD	31,128	Morgan Stanley & Co.	04/03/2024		(132	)
EUR	111,845	USD	120,849	Standard Chartered Bank	04/03/2024		(180	)
EUR	112,545	USD	121,605	Standard Chartered Bank	04/03/2024		(181	)
EUR	210	USD	228	UBS AG London	04/03/2024		(1	)
EUR	645	USD	700	UBS AG London	04/03/2024		(4	)
EUR	1,799,370	USD	1,944,885	UBS AG London	04/03/2024		(3,560	)
GBP	76,225	USD	96,245	Bank of America, NA	04/03/2024		(38	)
GBP	2,825	USD	3,574	Citibank, NA	04/03/2024		(9	)
GBP	4,440	USD	5,617	Deutsche Bank AG	04/03/2024		(13	)
GBP	76,455	USD	96,555	Deutsche Bank AG	04/03/2024		(57	)
GBP	58	USD	73	Goldman Sachs International	04/03/2024		(—	)(h)
GBP	4,555	USD	5,763	Morgan Stanley & Co.	04/03/2024		(14	)
GBP	76,225	USD	96,333	Standard Chartered Bank	04/03/2024		(125	)
GBP	561	USD	708	UBS AG London	04/03/2024		(—	)(h)
GBP	516,207	USD	651,567	UBS AG London	04/03/2024		(33	)
HKD	190	USD	24	Bank of New York Mellon	04/03/2024		(—	)(h)
JPY	3,314,496	USD	21,900	Bank of New York Mellon	04/03/2024		(2	)
NOK	54,010	USD	4,987	Bank of America, NA	04/03/2024		(12	)
SEK	540	USD	51	Bank of America, NA	04/03/2024		(—	)(h)
SEK	34,913	USD	3,269	Bank of America, NA	04/03/2024		(7	)
SEK	77,240	USD	7,234	Bank of America, NA	04/03/2024		(17	)
SEK	3,575	USD	346	Citibank, NA	04/03/2024		(12	)
AUD	107	USD	70	Morgan Stanley & Co.	04/19/2024		(—	)(h)
JPY	245,511	USD	1,720	Bank of America, NA	04/19/2024		(94	)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE		UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	820	PLN	3,307	HSBC Bank plc		04/19/2024		(8	)
CNH	472	USD	66	Barclays Bank plc		04/24/2024		(1	)
AUD	602	USD	393	Citibank, NA		05/02/2024		(—	)(h)
USD	2,549	AUD	3,910	Royal Bank of Canada		05/02/2024		(1	)
USD	3,957	CHF	3,570	UBS AG London		05/02/2024		(15	)
USD	11,514	CHF	10,390	UBS AG London		05/02/2024		(45	)
USD	9,579	CZK	224,750	Goldman Sachs International		05/02/2024		(1	)
USD	21,905	EUR	20,291	Bank of America, NA		05/02/2024		(12	)
USD	121,121	EUR	112,177	Barclays Bank plc		05/02/2024		(47	)
SEK	850	EUR	74	Goldman Sachs International		05/02/2024		(—	)(h)
EUR	210	USD	227	UBS AG London		05/02/2024		(—	)(h)
EUR	647	USD	700	UBS AG London		05/02/2024		(1	)
USD	28,614	GBP	22,701	Morgan Stanley & Co.		05/02/2024		(42	)
USD	15,593	GBP	12,370	Morgan Stanley & Co.		05/02/2024		(23	)
GBP	10	USD	13	Morgan Stanley & Co.		05/02/2024		(—	)(h)
USD	179,091	GBP	141,890	UBS AG London		05/02/2024		(25	)
USD	4,843	HUF	1,776,490	Goldman Sachs International		05/02/2024		(14	)
USD	293	NZD	492	UBS AG London		05/02/2024		(1	)
USD	13,356	PLN	53,440	Morgan Stanley & Co.		05/02/2024		(19	)
USD	6,456	RON	29,760	Goldman Sachs International		05/02/2024		(—	)(h)
USD	438	SGD	591	Bank of America, NA		05/02/2024		(—	)(h)
USD	8,607	CNY	62,000	Brown Brothers Harriman & Co.		05/07/2024		(5	)
USD	1,022,466	CNY	7,363,200	Brown Brothers Harriman & Co.		05/07/2024		(229	)
KRW	996,606	USD	760	Citibank, NA		06/20/2024		(17	)
USD	1,872	MXN	31,682	Morgan Stanley & Co.		06/20/2024		(10	)
USD	115	MYR	540	Morgan Stanley & Co.		06/20/2024		(—	)(h)
USD	35	PEN	134	Barclays Bank plc		06/20/2024		(1	)
USD	51	THB	1,870	Standard Chartered Bank		06/20/2024		(—	)(h)
Total unrealized depreciation								(12,327	)
Net unrealized appreciation (depreciation)								52,588

OTC Interest Rate Swaps contracts outstanding as of March 31, 2024:

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)

(84

)

(84

)

Bank Negara Malaysia KLIBOR Interbank Offered Rate Fixing 3 Month

3.88% quarterly

Pay

Morgan Stanley & Co.

11/23/2030

MYR 1,030

—

2

2

CFETS China Fixing Repo Rates 7 Day

2.36% quarterly

Pay

Morgan Stanley & Co.

09/01/2030

CNY 7,000

—

12

12

Total

(—

)(h)

(70

)

(70

)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024:

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	0.10% semi- annually	Pay		12/03/2025	JPY	140,000		(—	)(h)		(3	)		(3	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.24% annually	Pay		02/02/2026	JPY	120,000		—	(h)		(—	)(h)		—	(h)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Pay		07/08/2027	JPY	400,000		(32	)		(7	)		(39	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Pay		07/08/2028	JPY	975,000		(162	)		20			(142	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Receive		07/08/2029	JPY	300,000		70			(10	)		60
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	(0.05)% annually	Receive		07/08/2030	JPY	780,000		257			(50	)		207
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.30% semi- annually	Pay		12/03/2030	JPY	143,500		(—	)(h)		(23	)		(23	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.05% annually	Pay		07/08/2032	JPY	120,000		(39	)		(4	)		(43	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.10% annually	Pay		07/08/2033	JPY	245,000		(98	)		(2	)		(100	)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (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	0.01% annually	Pay		07/08/2034	JPY	200,000		(95	)		(16	)		(111	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.15% annually	Pay		07/08/2037	JPY	135,000		(79	)		(18	)		(97	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.30% annually	Pay		07/08/2043	JPY	210,000		(224	)		(11	)		(235	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.45% annually	Pay		07/08/2048	JPY	115,000		(141	)		(9	)		(150	)
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.45% annually	Pay		07/08/2054	JPY	185,000		(333	)		26			(307	)
BBSW ASX Australian 6 Month	2.50% semi- annually	Pay		12/03/2025	AUD	3,390		269			(342	)		(73	)
BBSW ASX Australian 6 Month	2.75% semi- annually	Pay		12/03/2030	AUD	1,035		144			(199	)		(55	)
BBSW ASX Australian 6 Month	2.80% semi- annually	Pay		12/03/2033	AUD	485		(42	)		5			(37	)
BBSW ASX Australian 6 Month	2.80% semi- annually	Pay		12/03/2033	AUD	2,350		(213	)		35			(178	)
Canadian Overnight Repo Rate Average	4.45% semi- annually	Pay		12/03/2024	CAD	13,145		45			(87	)		(42	)
Canadian Overnight Repo Rate Average	3.65% semi- annually	Pay		12/03/2027	CAD	10,850		133			(184	)		(51	)
Canadian Overnight Repo Rate Average	3.50% semi- annually	Pay		12/03/2029	CAD	2,325		52			(59	)		(7	)
Canadian Overnight Repo Rate Average	3.45% semi- annually	Pay		12/03/2032	CAD	3,490		40			(55	)		(15	)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (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	3.50% semi- annually	Pay		12/03/2033	CAD	800		(2	)		3			1
Canadian Overnight Repo Rate Average	3.55% semi- annually	Pay		12/03/2042	CAD	1,895		56			(67	)		(11	)
Canadian Overnight Repo Rate Average	3.30% semi- annually	Pay		12/03/2052	CAD	1,510		36			(58	)		(22	)
Canadian Overnight Repo Rate Average	3.30% semi- annually	Pay		12/03/2053	CAD	860		23			(33	)		(10	)
CFETS China Fixing Repo Rates 7 Day	2.30% quarterly	Pay		05/11/2025	CNY	19,045		12			(1	)		11
CFETS China Fixing Repo Rates 7 Day	2.81% quarterly	Pay		04/12/2026	CNY	3,590		—	(h)		9			9
CFETS China Fixing Repo Rates 7 Day	2.40% quarterly	Pay		05/11/2026	CNY	5,970		7			1			8
CFETS China Fixing Repo Rates 7 Day	2.60% quarterly	Pay		05/11/2028	CNY	34,750		48			57			105
Colombia IBR Overnight Nominal Interbank Reference Rate	4.44% quarterly	Pay		09/10/2030	COP	2,257,000		—	(h)		(95	)		(95	)
ESTR Volume Weighted Trimmed Mean Rate	1.20% annually	Pay		05/11/2052	EUR	1,810		(182	)		(329	)		(511	)
GPW Benchmark WIBID/WIBOR PLN 6 Months	4.82% semi- annually	Pay		11/28/2030	PLN	1,000		—	(h)		(2	)		(2	)
KRW Certificate of Deposit 3 Month	3.15% quarterly	Pay		08/04/2024	KRW	1,448,000		—	(h)		(3	)		(3	)
KRW Certificate of Deposit 3 Month	1.00% quarterly	Pay		09/01/2025	KRW	2,400,000		—	(h)		(64	)		(64	)
KRW Certificate of Deposit 3 Month	3.14% quarterly	Pay		04/19/2028	KRW	860,000		—	(h)		(4	)		(4	)
KRW Certificate of Deposit 3 Month	1.07% quarterly	Pay		04/27/2030	KRW	200,000		(8	)		(10	)		(18	)
KRW Certificate of Deposit 3 Month	0.97% quarterly	Pay		08/14/2030	KRW	2,100,000		—	(h)		(211	)		(211	)
KRW Certificate of Deposit 3 Month	0.94% quarterly	Pay		08/19/2030	KRW	5,075,000		(83	)		(426	)		(509	)
KRW Certificate of Deposit 3 Month	2.82% quarterly	Pay		04/28/2032	KRW	1,245,595		(13	)		(15	)		(28	)
KRW Certificate of Deposit 3 Month	3.15% quarterly	Pay		03/10/2033	KRW	1,068,660		(17	)		12			(5	)
KRW Certificate of Deposit 3 Month	3.61% quarterly	Pay		11/24/2033	KRW	805,000		—	(h)		18			18

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

FLOATING RATE INDEX (a)	FIXED RATE	PAY/RECEIVE FLOATING RATE	MATURITY DATE		NOTIONAL AMOUNT		UPFRONT PAYMENTS (RECEIPTS) ($)			UNREALIZED APPRECIATION (DEPRECIATION) ($)			VALUE ($)
KRW Certificate of Deposit 3 Month	3.10% quarterly	Pay		03/10/2043	KRW	161,125		(3	)		2			(1	)
SONIA Interest Rate Benchmark	0.45% annually	Pay		03/31/2026	GBP	1,250		—	(h)		(189	)		(189	)
SONIA Interest Rate Benchmark	1.00% annually	Receive		05/08/2026	GBP	1,330		(115	)		(58	)		(173	)
SONIA Interest Rate Benchmark	1.10% annually	Receive		05/08/2029	GBP	2,010		(309	)		(92	)		(401	)
SONIA Interest Rate Benchmark	1.10% annually	Receive		05/08/2030	GBP	4,590		1,147			(208	)		939
SONIA Interest Rate Benchmark	1.15% annually	Receive		05/08/2033	GBP	165		(50	)		3			(47	)
SONIA Interest Rate Benchmark	1.20% annually	Pay		05/08/2038	GBP	345		(140	)		9			(131	)
SONIA Interest Rate Benchmark	1.25% annually	Receive		05/08/2043	GBP	895		381			36			417
SONIA Interest Rate Benchmark	1.25% annually	Pay		05/08/2046	GBP	1,865		300			(1,249	)		(949	)
SONIA Interest Rate Benchmark	1.25% annually	Pay		05/08/2048	GBP	1,155		(638	)		26			(612	)
Swiss Average Rate ON Intraday Value	2.00% annually	Pay		05/08/2030	CHF	1,700		80			34			114
Swiss Average Rate ON Intraday Value	0.13% annually	Pay		11/05/2031	CHF	150		2			(15	)		(13	)
Swiss Average Rate ON Intraday Value	1.91% annually	Pay		03/31/2033	CHF	400		—	(h)		33			33
Thailand Overnight Repo Rate ON	1.15% quarterly	Pay		11/19/2030	THB	31,000		—	(h)		(63	)		(63	)
United States SOFR	1.75% annually	Pay		06/15/2025	USD	15,200		(730	)		(269	)		(999	)
United States SOFR	3.50% annually	Receive		06/21/2026	USD	5,500		129			61			190
United States SOFR	2.00% annually	Receive		12/21/2027	USD	5,400		449			(5	)		444
United States SOFR	1.22% annually	Receive		08/15/2028	USD	5,797		—	(h)		802			802
United States SOFR	1.50% semi-annually	Pay		12/15/2028	USD	27,300		(3,606	)		424			(3,182	)
United States SOFR	4.25% annually	Receive		03/20/2029	USD	15,800		(513	)		334			(179	)
United States SOFR	3.50% annually	Pay		12/20/2030	USD	14,000		484			(83	)		401
United States SOFR	3.75% annually	Receive		06/20/2031	USD	2,500		14			(3	)		11
United States SOFR	3.75% annually	Receive		06/20/2031	USD	19,200		(121	)		37			(84	)
United States SOFR	3.50% annually	Receive		12/20/2033	USD	45,100		2,149			(677	)		1,472
United States SOFR	3.25% annually	Receive		12/20/2053	USD	7,200		834			(314	)		520
Total								(838	)		(3,626	)		(4,464	)

(a) Value of floating rate index as of March 31, 2024 was as follows:

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

FLOATING RATE INDEX
Bank Negara Malaysia KLIBOR Interbank Offered Rate Fixing 3 Month	3.59	%
Bank of Japan Final Result: Unsecured Overnight Call Rate TONAR	0.07	%
BBSW ASX Australian 6 Month	4.55	%
Canadian Overnight Repo Rate Average	5.05	%
CFETS China Fixing Repo Rates 7 Day	2.30	%
Colombia IBR Overnight Nominal Interbank Reference Rate	11.39	%
ESTR Volume Weighted Trimmed Mean Rate	3.90	%
GPW Benchmark WIBID/WIBOR PLN 6 Months	5.66	%
KRW Certificate of Deposit 3 Month	3.64	%
SONIA Interest Rate Benchmark	5.19	%
Swiss Average Rate ON Intraday Value	1.46	%
Thailand Overnight Repo Rate ON	2.49	%
United States SOFR	5.34	%

Centrally Cleared Credit Default Swaps contracts outstanding — buy protection (1) as of March 31, 2024:

REFERENCE OBLIGATION/ INDEX	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.42-V1		1.00	%		quarterly		06/20/2029		0.51		USD	25,740		(560	)		(30	)		(590	)
Total														(560	)		(30	)		(590	)

(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 seller’s 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).

Written Put Option contracts on securities as of March 31, 2024:

DESCRIPTION	COUNTERPARTY		NUMBER OF CONTRACTS			NOTIONAL AMOUNT			EXERCISE PRICE		EXPIRATION DATE		VALUE
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 04/11/2054		Citigroup Global Markets, Inc.		(5,000	)	USD	(967	)	USD	97.59		04/04/2024	$	(10	)
FNMA or FHLMC, Single Family, 30 years, TBA, 5.00%, 04/11/2054		Citigroup Global Markets, Inc.		(8,000	)	USD	(1,657	)	USD	97.63		04/04/2024		(17	)
Total Written Options Contracts (Premiums Received $41)														(27	)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Reverse Repurchase Agreements

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.		5.44	%		3/13/2024		4/11/2024		(26,879	)		(2,077	)		2,077		—
Citigroup Global Markets Ltd.		5.44	%		3/13/2024		4/11/2024		(92,388	)		(15,058	)		15,058		—
Wells Fargo Bank NA		5.45	%		3/18/2024		4/11/2024		(9,907	)		(5,037	)		5,037		—
Wells Fargo Bank NA		5.45	%		3/19/2024		4/11/2024		(4,457	)		(4,466	)		4,466		—
												(26,638	)

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		—		(26,638	)		—		—		(26,638	)
Payable for Reverse Repurchase Agreements											(26,638	)

Sale-Buyback Transactions

COUNTERPARTY	BORROWING DATE		MATURITY DATE		BORROWING RATE			AMOUNT BORROWED			PAYABLE FOR SALE-BUYBACK TRANSACTIONS
BNP Paribas SA		3/13/2024		4/18/2014		5.48	%		(2,869	)		(2,877	)

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 MARCH 31, 2024

ACES	—	Alternative Credit Enhancement Securities
ARM	—	Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of March 31, 2024.
ASX	—	Australian Stock Exchange
BAM	—	Insured by Build America Mutual
BBSW	—	Bank Bill Swap Rate
CDX	—	Credit Default Swap Index
CFETS	—	China Foreign Exchange Trade System
CLO	—	Collateralized Loan Obligations
CMT	—	Constant Maturity Treasury
CPI	—	Consumer Price Index
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 March 31, 2024. 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
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 March 31, 2024.
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.

Six Circles Global Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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)

(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 March 31, 2024.
(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 March 31, 2024.
(aa)	—	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of March 31, 2024
(dd)		All or a portion of these U.S. Treasury Obligations were purchased in a sale-buyback transaction. The value of these securities total $2,885, which represents 0.02% of total net assets.
(ee)	—	Approximately $2,150 of these investments are restricted as collateral for swaps to various brokers.
(ff)	—	Approximately $755 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.
(jj)	—	Approximately $63 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	—	Chinese Yuan
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 MARCH 31, 2024 (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 $868)		1,000		483
Municipal Bonds — 98.2% (t)
Alabama — 3.7%
Alabama Economic Settlement Authority, BP Settlement, Series A, Rev., 4.00%, 09/15/2033		1,000		1,006
Alabama Federal Aid Highway Finance Authority, Garvee,
Series A, Rev., 5.00%, 09/01/2032 (p)		1,160		1,241
Series A, Rev., 5.00%, 09/01/2035 (p)		1,000		1,070
Series A, Rev., 5.00%, 09/01/2036 (p)		2,000		2,094
Alabama Housing Finance Authority, South Oak Residence Project, Rev., 1.25%, 12/01/2025 (z)		4,270		4,178
Alabama Public School and College Authority, Social Bonds,
Series A, Rev., 5.00%, 11/01/2037		6,400		7,152
Series A, Rev., 5.00%, 11/01/2039		10,000		11,071
Alabama Special Care Facilities Financing Authority, Ascension Senior Credit Group, Series C, Rev., 5.00%, 11/15/2046		5,000		5,074
Auburn University, Series A, Rev., 4.00%, 06/01/2041		7,000		6,882
Black Belt Energy Gas District,
Rev., 4.00%, 06/01/2051 (z)		23,030		23,214
Series A, Rev., 5.25%, 05/01/2055 (z)		2,000		2,161
Series B1, Rev., 4.00%, 04/01/2053 (z)		2,000		2,009
Series B2, Rev., (SIFMA Municipal Swap Index + 0.65%), 4.29%, 04/01/2053 (aa)		9,250		8,952
Series B, Rev., LIQ: Royal Bank of Canada, 5.25%, 12/01/2053 (z)		4,845		5,229
Series C1, Rev., 5.25%, 02/01/2053 (z)		9,000		9,514
Series C, Rev., 5.50%, 10/01/2054 (z)		5,000		5,474
Series D1, Rev., LIQ: Royal Bank of Canada, 4.00%, 07/01/2052 (z)		3,930		3,973
Black Belt Energy Gas District, Gas Project,
Series D1, Rev., 5.50%, 06/01/2049 (z)		7,100		7,567
Series F, Rev., 5.50%, 11/01/2053 (z)		10,625		11,287
Black Belt Energy Gas District, Gas Project Bonds Project No. 7, Rev., 4.00%, 10/01/2052 (z)		13,120		13,182
Black Belt Energy Gas District, Gas Project No. 8, Series A, Rev., 4.00%, 12/01/2052 (z)		4,910		4,858
Black Belt Energy Gas District, Project No. 4, Series A1, Rev., 4.00%, 12/01/2049 (z)		6,810		6,835
Black Belt Energy Gas District, Project No. 5, Series A1, Rev., 4.00%, 10/01/2049 (z)		5,000		5,016
Black Belt Energy Gas District, Project No. 6, Series B, Rev., 4.00%, 10/01/2052 (z)		9,005		9,052
City of Birmingham, Warrants, Series A, GO, 4.00%, 06/01/2032		4,075		4,275
County of Jefferson Sewer Revenue, Warrants,
Rev., 5.00%, 10/01/2035		2,285		2,597
Rev., 5.00%, 10/01/2036		1,455		1,639
Rev., 5.00%, 10/01/2037		7,685		8,564
Rev., 5.00%, 10/01/2038		2,190		2,423
Rev., 5.00%, 10/01/2039		4,285		4,709
Rev., 5.25%, 10/01/2049		3,805		4,083
Energy Southeast A Cooperative District,
Series A1, Rev., 5.50%, 11/01/2053 (z)		1,500		1,624
Series B1, Rev., 5.75%, 04/01/2054 (z)		650		719

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Health Care Authority for Baptist Health, Affiliate of UAB Health System Community, Rev., 5.00%, 11/15/2032		10,495		11,681
Health Care Authority of the City of Huntsville, Health System,
Series B1, Rev., 4.00%, 06/01/2045		1,750		1,680
Series B1, Rev., 5.00%, 06/01/2038		1,000		1,061
Hoover Industrial Development Board, Green Bonds, Rev., AMT, 6.38%, 11/01/2050 (z)		2,375		2,629
Hoover Industrial Development Board, United States Steel Corporation, Rev., AMT, 5.75%, 10/01/2049		3,500		3,620
Huntsville Public Building Authority, Rev., 5.00%, 02/01/2052		3,000		3,173
Industrial Development Board of the City of Mobile Alabama, Alabama Power Co. Barry Plant, Rev., 3.65%, 07/15/2034 (z)		8,795		8,765
Lower Alabama Gas District (The), Gas Project Revenue Bonds, Rev., 4.00%, 12/01/2050 (z)		3,250		3,262
Madison Water & Wastewater Board, Rev., 5.25%, 12/01/2048		1,700		1,912
Selma Industrial Development Board, International Paper Co. Project, Rev., 1.38%, 05/01/2034 (z)		1,000		969
Southeast Alabama Gas Supply District (The), Project No. 2, Series A, Rev., 4.00%, 06/01/2049 (z)		100		100
Southeast Alabama Gas Supply District, Project No. 1, Series A, Rev., 5.00%, 08/01/2054 (z)		21,175		22,640
Southeast Alabama Gas Supply District, Project No. 2, Rev., 5.00%, 06/01/2049 (z)		20,485		21,967
Southeast Energy Authority A Cooperative District, Project #4, Series B1, Rev., 5.00%, 05/01/2053 (z)		5,825		6,036
Southeast Energy Authority A Cooperative District, Project #6,
Series B, Rev., LIQ: Royal Bank of Canada, 5.00%, 06/01/2030		2,225		2,359
Series B, Rev., LIQ: Royal Bank of Canada, 5.00%, 01/01/2054 (z)		10,000		10,578
Southeast Energy Authority A Cooperative District, Project 1, Series A, Rev., 4.00%, 11/01/2051 (z)		4,580		4,560
Southeast Energy Authority A Cooperative District, Project 2, Series B, Rev., 4.00%, 12/01/2051 (z)		6,000		5,961
Southeast Energy Authority A Cooperative District, Project No. 3, Series A1, Rev., 5.50%, 01/01/2053 (z)		1,820		1,943
Southeast Energy Authority A Cooperative District, Project No. 5, Series A, Rev., 5.25%, 01/01/2054 (z)		15,000		15,929
State of Alabama Docks Department, Docks,
Series A, Rev., AGM, AMT, 5.00%, 10/01/2025		1,750		1,774
Series A, Rev., AGM, AMT, 5.00%, 10/01/2026		1,890		1,935
Tuscaloosa City Board of Education, Warrants, Rev., 5.00%, 08/01/2041 (p)		2,525		2,636
Tuscaloosa County Industrial Development Authority, Hunt Refining Project, Series A, Rev., 4.50%, 05/01/2032 (e)		777		781
UAB Medicine Finance Authority, Series B, Rev., 5.00%, 09/01/2041		1,750		1,775
University of South Alabama, Rev., AGM, 4.00%, 11/01/2035		2,000		2,009
				330,459
Alaska — 0.2%
Alaska Housing Finance Corp., General Mortgage, Series B, Rev., 3.25%, 12/01/2044		1,475		1,432
Alaska Housing Finance Corp., General Mortgage Revenue II, Series A, Rev., 4.50%, 06/01/2044		5,000		5,002
Alaska Housing Finance Corp., Social Bonds State Capital,
Rev., 5.00%, 06/01/2032		920		1,038
Rev., 5.00%, 12/01/2032		945		1,066
City of Anchorage Electric Revenue, Senior Lien, Series A, Rev., 5.00%, 12/01/2041 (p)		1,000		1,010
Northern Tobacco Securitization Corp., Senior, Series B2, Rev., Zero Coupon, 06/01/2066		9,475		1,261
State of Alaska International Airports System,
Series C, Rev., AMT, 5.00%, 10/01/2025		1,000		1,016
Series C, Rev., AMT, 5.00%, 10/01/2027		2,000		2,111
Series C, Rev., AMT, 5.00%, 10/01/2030		5,000		5,493
				19,429

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 1.4%
Arizona Board of Regents, Series A, Rev., 5.00%, 07/01/2043		2,480		2,675
Arizona Health Facilities Authority, Scottsdale Lincoln Hospital Project, Rev., 5.00%, 12/01/2029		2,705		2,727
Arizona Industrial Development Authority,
Series 2019-2, Rev., 3.63%, 05/20/2033		1,610		1,518
Series A, Rev., 4.00%, 09/01/2035		225		226
Series A, Rev., 4.00%, 09/01/2036		250		250
Arizona Industrial Development Authority, Greathearts Arizona Project,
Series A, Rev., 5.00%, 07/01/2024		125		125
Series A, Rev., 5.00%, 07/01/2026		125		128
Arizona Industrial Development Authority, Jerome Facilities Project, Series B, Rev., 4.00%, 07/01/2051		2,000		1,718
Arizona Industrial Development Authority, Phoenix Children’s Hospital, Rev., 5.00%, 02/01/2033		2,000		2,296
Arizona Industrial Development Authority, Somerset Academy of Las Vegas, Aliante,
Rev., 3.00%, 12/15/2031 (e)		475		425
Rev., 4.00%, 12/15/2041 (e)		500		427
Rev., 4.00%, 12/15/2051 (e)		700		541
Arizona Industrial Development Authority, Sustainable Bonds Equitable, Rev., 5.00%, 11/01/2028		2,870		3,055
Arizona State University,
Series A, Rev., 5.00%, 07/01/2043		1,105		1,180
Series C, Rev., 5.00%, 07/01/2042		2,000		2,057
Arizona State University, Board of Regents,
Series B, Rev., 5.00%, 07/01/2026		100		105
Series B, Rev., 5.00%, 07/01/2042		2,000		2,089
Chandler Industrial Development Authority, Intel Corp. Project,
Rev., AMT, 5.00%, 09/01/2042 (z)		3,000		3,091
Rev., AMT, 5.00%, 09/01/2052 (z)		2,860		2,947
City of Bullhead Excise Taxes Revenue, Second Series, Rev., 0.60%, 07/01/2024		250		247
City of Mesa, GO, 5.00%, 07/01/2042		2,665		3,022
City of Mesa Utility System Revenue, Rev., 5.00%, 07/01/2032		1,000		1,089
City of Phoenix, Civic Improvement Corp.,
Series A, Rev., 5.00%, 07/01/2029		1,000		1,087
Series A, Rev., 5.00%, 07/01/2031		2,000		2,179
Series A, Rev., 5.00%, 07/01/2032		1,000		1,088
Series A, Rev., 5.00%, 07/01/2034		3,785		4,212
Series B, Rev., 5.00%, 07/01/2024		130		130
City of Phoenix, Civic Improvement Corp., Airport Revenue, Junior Lien,
Series A, Rev., 5.00%, 07/01/2044		1,000		1,066
Series B, Rev., AMT, 5.00%, 07/01/2027		1,500		1,576
Series B, Rev., AMT, 5.00%, 07/01/2033		2,000		2,153
City of Phoenix, Civic Improvement Corp., Junior Lien, Series A, Rev., 5.00%, 07/01/2029		1,515		1,690
City of Phoenix, Civic Improvement Corp., Junior Lien Airport Special Obligation, Rev., 4.00%, 07/01/2040		3,555		3,536
County of Pima Sewer System Revenue, Rev., 5.00%, 07/01/2028		500		545
Gilbert Public Facilities Municipal Property Corp., Rev., 5.00%, 07/01/2026		1,025		1,069
Gilbert Water Resource Municipal Property Corp., Green Bond Senior Lien, Rev., 4.00%, 07/15/2047		1,000		985

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Industrial Development Authority of the County of Pima (The), American Leadership Academy,
Rev., 4.00%, 06/15/2025 (e)		2,555		2,534
Rev., 4.00%, 06/15/2027 (e)		2,680		2,641
Rev., 4.00%, 06/15/2030 (e)		1,510		1,469
Industrial Development Authority of the County of Yavapai, Waste Management, Inc. Project, Rev., AMT, 1.30%, 06/01/2027		3,260		2,963
Maricopa County Industrial Development Authority, Banner Health,
Rev., 5.00%, 01/01/2053 (z)		2,925		3,111
Series A3, Rev., 5.00%, 01/01/2053 (z)		3,000		3,310
Series A, Rev., 4.00%, 01/01/2041		4,000		3,986
Maricopa County Pollution Control Corp., Southern California Edison, Rev., 2.40%, 06/01/2035		4,280		3,535
Maricopa County Special Health Care District, Series C, GO, 4.00%, 07/01/2037		21,910		22,277
Maricopa County Unified School District No. 69 Paradise Valley, GO, 4.00%, 07/01/2036		1,170		1,200
Maricopa County Unified School District No. 97-Deer Valley, Series E, GO, 5.00%, 07/01/2025		500		510
Salt River Project Agricultural Improvement & Power District,
Series A, Rev., 5.00%, 12/01/2036		5,000		5,081
Series A, Rev., 5.00%, 12/01/2045		8,300		8,445
Salt River Project Agricultural Improvement & Power District, Salt River Project,
Series A, Rev., 5.00%, 01/01/2026		3,000		3,099
Series B, Rev., 5.00%, 01/01/2044		3,325		3,732
Salt Verde Financial Corp., Rev., 5.00%, 12/01/2032		420		448
The Industrial Development Authority of the City of Phoenix Arizona, Republic Services, Inc., Rev., AMT, 4.10%, 12/01/2035 (z)		3,125		3,123
				124,718
Arkansas — 0.2%
Arkansas Development Finance Authority, Rev., 5.00%, 06/01/2027		535		569
Arkansas Development Finance Authority Public Safety Charges Revenue, Division of Emergency Management Project, Rev., 5.00%, 06/01/2024		1,000		1,002
Arkansas Development Finance Authority, Big River Steel Project,
Rev., AMT, 4.50%, 09/01/2049 (e)		3,130		3,088
Rev., AMT, 4.75%, 09/01/2049 (e)		7,000		7,000
Arkansas Development Finance Authority, Green Bond United States, Rev., AMT, 5.45%, 09/01/2052		3,000		3,061
				14,720
California — 9.5%
Alameda County, Oakland Unified School District, GO, 5.00%, 08/01/2027		65		68
Anaheim City School District, Election 2016, Series A, GO, 4.00%, 08/01/2048		4,000		3,950
Anaheim Housing & Public Improvements Authority, Series A, Rev., 5.00%, 10/01/2050		1,780		1,814
Anaheim Public Financing Authority, Senior Public Improvement Project, Series A, Rev., BAM, 5.00%, 09/01/2036		2,250		2,362
Anaheim Union High School District, Capital Appreciation Election 2002, GO, NATL, Zero Coupon, 08/01/2028		2,175		1,910
Bay Area Toll Authority, San Francisco Bay Area,
Rev., 2.00%, 04/01/2053 (z)		2,200		2,200
Series C, Rev., (SIFMA Municipal Swap Index + 0.45%), 4.09%, 04/01/2056 (aa)		2,675		2,645
Bay Area Toll Authority, San Francisco Bay Area Toll, Rev., (SIFMA Municipal Swap Index + 0.41%), 4.05%, 04/01/2056 (aa)		5,000		4,882
Cabrillo Unified School District, Election 2018, Series B, GO, 5.00%, 08/01/2050		5,000		5,245

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Community Choice Financing Authority, Series B1, Rev., 4.00%, 02/01/2052 (z)		9,655		9,710
California Community Choice Financing Authority, Clean Energy Project Revenue, Rev., 5.00%, 05/01/2054 (z)		20,000		21,534
California Community Choice Financing Authority, Green Bond, Series A1, Rev., 4.00%, 05/01/2053 (z)		6,860		6,891
California Community Choice Financing Authority, Green Bonds Clean Energy Project,
Rev., 5.00%, 07/01/2053 (z)		11,040		11,667
Rev., 5.00%, 12/01/2053 (z)		6,160		6,506
Rev., 5.00%, 02/01/2054 (z)		3,245		3,473
Rev., 5.25%, 01/01/2054 (z)		14,375		15,148
California Community Choice Financing Authority, Sustainability Bonds Clean Energy, Rev., 5.25%, 11/01/2054 (z)		17,825		19,176
California Community Choice Financing Authority, Sustainable Bond Clean Energy, Rev., 5.50%, 10/01/2054 (z)		2,220		2,448
California County, Tobacco Securitization Agency, Series A, Rev., 5.00%, 06/01/2027		10		11
California County, Tobacco Securitization Agency, Senior Bonds, Merced County Tobacco Funding Corporation, Rev., 5.00%, 06/01/2032		340		378
California County, Tobacco Securitization Agency, Sonoma County Securitization,
Rev., 5.00%, 06/01/2031		255		284
Rev., 5.00%, 06/01/2032		250		278
Rev., 5.00%, 06/01/2033		300		333
Rev., 5.00%, 06/01/2049		250		259
California Educational Facilities Authority, Loyola Marymount University, Series A, Rev., NATL, Zero Coupon, 10/01/2037		340		201
California Educational Facilities Authority, University Southern California, Series C, Rev., 5.25%, 10/01/2024 (p)		210		212
California Health Facilities Financing Authority, Rev., 5.00%, 10/01/2039 (p) (z)		945		969
California Health Facilities Financing Authority, Cedars Sinai Health System, Rev., 4.00%, 08/15/2040		4,050		4,122
California Health Facilities Financing Authority, Children’s Hospital of Orange,
Rev., 3.00%, 11/01/2039		3,765		3,326
Rev., 4.00%, 11/01/2035		1,460		1,537
California Health Facilities Financing Authority, City of Hope, Rev., 5.00%, 11/15/2049		3,000		3,056
California Health Facilities Financing Authority, Commonspirit Health,
Series A, Rev., 4.00%, 04/01/2037		3,000		3,045
Series A, Rev., 4.00%, 04/01/2038		3,500		3,529
Series A, Rev., 5.00%, 04/01/2033		3,000		3,327
California Health Facilities Financing Authority, Episcopal Communities & Service,
Rev., 5.00%, 11/15/2038		570		623
Rev., 5.00%, 11/15/2043		570		610
California Health Facilities Financing Authority, Initial Entrance Fees, Series A, Rev., 3.85%, 11/15/2027		40		40
California Health Facilities Financing Authority, Kaiser Permanente,
Series A2, Rev., 4.00%, 11/01/2044		3,000		3,009
Series A-1-S, Rev., 5.00%, 11/01/2027		2,500		2,708
Series A-2, Rev., 4.00%, 11/01/2038		6,270		6,342
California Health Facilities Financing Authority, PIH Health, Series A, Rev., 5.00%, 06/01/2035		3,010		3,281
California Health Facilities Financing Authority, Stanford Health Care,
Rev., 3.00%, 08/15/2054 (z)		5,000		4,983
Series A, Rev., 5.00%, 11/15/2030		2,000		2,167

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Health Facilities Financing Authority, Sutter Health,
Series A, Rev., 4.00%, 11/15/2048		2,240		2,151
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		1,069
California Housing Finance Agency, Series 2021-1, Rev., 3.50%, 11/20/2035		1,432		1,343
California Housing Finance Agency, Social Certificates, Series A
Rev., 3.25%, 08/20/2036		9,301		8,576
Rev., 4.25%, 01/15/2035		2,323		2,324
California Housing Finance Agency, Symphony at Del Sur, Rev., 5.00%, 05/01/2054 (z)		425		438
California Infrastructure & Economic Development Bank, J. Paul Getty Trust, Rev., 3.00%, 10/01/2047 (z)		1,000		989
California Infrastructure & Economic Development Bank, Los Angeles County, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 4.34%, 12/01/2050 (aa)		1,370		1,338
California Infrastructure & Economic Development Bank, Sanford Consortium Project, Series A, Rev., 5.00%, 05/15/2031		1,230		1,287
California Infrastructure and Economic Development Bank, Brightline West Passenger, Rev., AMT, 3.95%, 01/01/2050 (e) (z)		19,030		18,982
California Municipal Finance Authority, Community Facilities No. 2023-5 Improvement, Special Tax, 5.50%, 09/01/2048		600		619
California Municipal Finance Authority, Draw Down Waste Management, Rev., AMT, 4.80%, 11/01/2041 (z)		1,460		1,464
California Municipal Finance Authority, Open Door Community Health Center,
Rev., 4.00%, 09/15/2034		920		972
Rev., 4.00%, 09/15/2035		960		1,004
Rev., 4.00%, 09/15/2036		1,000		1,032
California Municipal Finance Authority, Republic Services, Rev., AMT, 4.38%, 09/01/2053 (z)		4,350		4,545
California Municipal Finance Authority, Republic Services, Inc., Rev., AMT, 3.88%, 03/01/2054 (z)		550		551
California Municipal Finance Authority, Simpson University, Series A, Rev., 6.00%, 10/01/2050 (e)		2,000		2,032
California Municipal Finance Authority, Southern California Institute, Rev., 5.00%, 12/01/2037		745		772
California Municipal Finance Authority, Subordinate Caritas Project, Series B, Rev., 4.00%, 08/15/2041		300		279
California Municipal Finance Authority, Sustainable Bond, Rev., AMT, 4.00%, 12/15/2042 (e) (z)		5,000		4,990
California Municipal Finance Authority, Taxable Virginia Oceanside Health Care Center, Rev., 3.64%, 07/01/2030 (e)		2,980		2,636
California Municipal Finance Authority, United Airlines, Inc. Project, Rev., AMT, 4.00%, 07/15/2029		2,500		2,479
California Municipal Finance Authority, Waste Management, Inc. Project,
Rev., AMT, 4.10%, 10/01/2045 (z)		4,125		4,122
Series A, Rev., AMT, 2.40%, 10/01/2044 (z)		4,960		4,725
California Pollution Control Financing Authority, Plant Bonds,
Rev., AMT, 5.00%, 07/01/2037 (e)		1,500		1,502
Rev., AMT, 5.00%, 11/21/2045 (e)		6,000		6,003
California Pollution Control Financing Authority, Poseidon Resources, Rev., AMT, 5.00%, 07/01/2037 (e)		2,200		2,383
California Pollution Control Financing Authority, Republic Services, Inc.,
Rev., AMT, 4.00%, 11/01/2042 (e) (z)		4,100		4,099
Rev., AMT, 4.13%, 07/01/2043 (e) (z)		8,350		8,334

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Public Finance Authority, Enso Village Project, Rev., 2.13%, 11/15/2027 (e)		70		70
California Public Finance Authority, Enso Village Project, Green Bond, Rev., 5.00%, 11/15/2036 (e)		325		305
California Public Finance Authority, Henry Mayo Newhall Hospital, Rev., 5.00%, 10/15/2032		1,000		1,019
California Public Finance Authority, Sharp Healthcare, Series A, Rev., 5.00%, 08/01/2028		4,970		5,468
California School Finance Authority, Rocketship Education Obligated, Series A, Rev., 5.00%, 06/01/2034 (e)		1,230		1,252
California State Public Works Board, Series H, Rev., 5.00%, 12/01/2026		1,000		1,030
California State Public Works Board, Corrections Facilities, Series A, Rev., 5.00%, 09/01/2039		7,560		7,588
California State Public Works Board, Forward Delivery, Series A, Rev., 5.00%, 02/01/2030		2,500		2,827
California State Public Works Board, Various Capital Projects,
Rev., 4.00%, 11/01/2030		1,245		1,279
Rev., 4.00%, 11/01/2031		1,000		1,025
Rev., 5.00%, 11/01/2026		565		595
Series D, Rev., 4.00%, 11/01/2037		1,000		1,058
California State Public Works Board, Various Corrections Facilities, Series A, Rev., 5.00%, 09/01/2031		4,560		4,582
California State University, Series A, Rev., 5.00%, 11/01/2044		2,640		2,862
California State University, Systemwide, Series A, Rev., 4.00%, 11/01/2035		1,000		1,011
California Statewide Communities Development Authority, Series B, Special Assessment, 4.00%, 09/02/2040		570		534
California Statewide Communities Development Authority, Enloe Medical Center, Series A, Rev., AGM, 5.13%, 08/15/2047		500		544
California Statewide Communities Development Authority, Green Bond, Marin General Hospital, Rev., 4.00%, 08/01/2045		3,000		2,685
California Statewide Communities Development Authority, Loma Linda University Medical, Rev., 5.50%, 12/01/2058 (e)		2,000		2,055
California Statewide Communities Development Authority, Loma Linda University Medical Center,
Rev., 5.25%, 12/01/2044		6,065		6,097
Rev., 5.50%, 12/01/2054		1,100		1,106
Series A, Rev., 5.00%, 12/01/2026 (e)		300		307
Series A, Rev., 5.00%, 12/01/2041 (e)		2,000		2,021
Series A, Rev., 5.25%, 12/01/2056 (e)		9,750		9,855
California Statewide Communities Development Authority, Montage Health, Series A, Rev., 4.00%, 06/01/2028		435		456
California Statewide Communities Development Authority, Southern California Edison, Rev., 4.50%, 11/01/2033		1,000		1,091
Chino Valley Unified School District, Election of 2016, Series C, GO, Zero Coupon, 08/01/2034		125		87
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		301
Special Tax, 4.00%, 09/01/2036 (e)		155		151
City & County of San Francisco Special Tax District No. 2020-1, Special Tax, Special Tax, 5.50%, 09/01/2043 (e)		2,060		2,123
City of Dixon, Community Facilities District Improvement, Special Tax, 4.00%, 09/01/2036		200		199
City of Fresno, Airport Revenue, Series A, Rev., BAM, AMT, 5.00%, 07/01/2048		1,000		1,063
City of Long Beach Airport System Revenue,
Series C, Rev., AGM, AMT, 5.00%, 06/01/2042		1,000		1,074
Series C, Rev., AGM, AMT, 5.25%, 06/01/2047		1,000		1,080

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Los Angeles Department of Airports,
Rev., AMT, 5.00%, 05/15/2026		1,500		1,545
Series B, Rev., AMT, 5.00%, 05/15/2046		21,965		22,209
City of Los Angeles Department of Airports, Los Angeles International Airport, Rev., AMT, 5.00%, 05/15/2032		1,000		1,077
City of Los Angeles Department of Airports, Senior,
Series A, Rev., AMT, 4.75%, 05/15/2040		2,415		2,432
Series B, Rev., 5.00%, 05/15/2034		1,600		1,838
Series C, Rev., AMT, 5.00%, 05/15/2036		4,090		4,445
City of Los Angeles Department of Airports, Senior Bonds Green Bond Project,
Rev., AMT, 5.00%, 05/15/2029		4,000		4,341
Rev., AMT, 5.25%, 05/15/2047		4,000		4,296
City of Los Angeles Department of Airports, Subordinate,
Series B, Rev., 5.00%, 05/15/2040		900		1,017
Series C, Rev., AMT, 5.00%, 05/15/2033		1,330		1,399
Series C, Rev., 5.00%, 05/15/2038		2,000		2,036
Series D, Rev., AMT, 5.00%, 05/15/2027		2,605		2,731
Series D, Rev., AMT, 5.00%, 05/15/2028		500		534
Series D, Rev., AMT, 5.00%, 05/15/2029		4,485		4,867
Series E, Rev., 5.00%, 05/15/2039		1,510		1,641
Series E, Rev., 5.00%, 05/15/2044		1,000		1,072
City of Los Angeles Department of Airports, Subordinate Los Angeles International Airport,
Rev., AMT, 5.00%, 05/15/2027		1,235		1,295
Rev., AMT, 5.00%, 05/15/2029		1,000		1,085
Rev., 5.00%, 05/15/2036		1,000		1,111
Rev., AMT, 5.25%, 05/15/2038		1,735		1,835
City of Los Angeles Department of Airports, Subordinate P3 Project,
Series A, Rev., AMT, 5.00%, 05/15/2026		1,180		1,215
Series A, Rev., AMT, 5.00%, 05/15/2046		8,000		8,434
City of Los Angeles Department of Airports, Subordinated Los Angeles International Airport, Series D, Rev., AMT, 4.00%, 05/15/2051		3,000		2,839
City of Los Angeles Department of Airports, Sustainable Bond Subordinate, Rev., AMT, 5.00%, 05/15/2036		1,650		1,855
City of Los Angeles Department of Airports, Unrefunded Subordinate, Rev., AMT, 4.00%, 05/15/2038		1,995		1,988
City of Los Angeles Wastewater System Revenue, Subordinate, Series C, Rev., 5.00%, 06/01/2026		500		523
City of Roseville,
Special Tax, 4.00%, 09/01/2040		1,000		946
Special Tax, 5.00%, 09/01/2035		1,160		1,232
City of San Francisco, Public Utilities Commission Water Revenue, Regional Water, Series B, Rev., 5.00%, 11/01/2050		4,235		4,439
City of Santa Rosa Wastewater Revenue, Series A, Rev., 5.00%, 09/01/2033		1,770		2,046
City of Victorville Electric Revenue,
Series A, Rev., 5.00%, 05/01/2038		1,055		1,179
Series A, Rev., 5.00%, 05/01/2039		1,110		1,234
City of Woodland, Facilities District Number 2004 1 Capital Project, Special Tax, 4.00%, 09/01/2041		500		490
Coachella Valley Water District Drinking Water System Revenue, Notes, Series A, Rev., 1.38%, 06/01/2025		2,000		1,933

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Coast Community College District, Election of 2012, Series F, GO, Zero Coupon, 08/01/2040		3,020		1,556
Compton Community Redevelopment Agency Successor Agency, Series A, Tax Allocation, AGM, 5.00%, 08/01/2042		750		819
Compton Unified School District, Series B, GO, BAM, Zero Coupon, 06/01/2036		1,400		899
County of Los Angeles Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2033		105		114
County of Los Angeles, Community Facilities District No. 2021-01, Valencia Facilities, Special Tax, 5.00%, 09/01/2042		540		558
County of Sacramento, Community Facilities District #2004-1, Special Tax, 5.00%, 09/01/2035		1,335		1,375
CSCDA Community Improvement Authority, Series A, Rev., 5.00%, 01/01/2054 (e)		5,995		4,868
CSCDA Community Improvement Authority, Renaissance at City Center, Series A, Rev., 5.00%, 07/01/2051 (e)		215		208
CSCDA Community Improvement Authority, Social Bonds, Rev., 4.00%, 08/01/2056 (e)		410		352
CSCDA Community Improvement Authority, Union South Bay, Social Bonds, Rev., 4.00%, 07/01/2056 (e)		2,000		1,542
Department of Veterans Affairs, Veteran’s Farm & Home Purchase Program, Series A, Rev., 3.00%, 12/01/2050		750		730
East Bay Municipal Utility District Water System Revenue, Green Bond, Series A, Rev., 5.00%, 06/01/2035		1,200		1,290
East Side Union High School District, 2014 Election Education Tech,
Series D, GO, 5.00%, 08/01/2024		300		301
Series D, GO, 5.00%, 08/01/2025		400		411
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		1,204
FHLMC Multifamily ML Certificates,
Rev., 0.00%, 08/25/2040		3,610		3,585
Rev., 3.96%, 12/25/2036 (z)		1,787		1,733
Series 2021-ML10, Class A, Rev., 2.03%, 01/25/2038 (e)		334		253
Foothill-De Anza Community College District, Capital Appreciation, Series B, GO, AMBAC, Zero Coupon, 08/01/2032		7,930		6,264
Fremont Unified School District,
Series A, GO, 4.00%, 08/01/2037 (p)		4,755		4,761
Series D, GO, 3.00%, 08/01/2033		1,205		1,188
Fremont Unified School District, Election 2014, Series E, GO, 4.00%, 08/01/2042		2,230		2,278
Fresno Unified School District, Series D, GO, 2.00%, 08/01/2024		100		99
Golden State Tobacco Securitization Corp., Subordinated, Series B2, Rev., Zero Coupon, 06/01/2066		15,000		1,694
Golden State Tobacco Securitization Corp., Taxable Tobacco Settlement Asset Backed Bonds, Series C, Rev., 2.75%, 06/01/2034		1,900		1,600
Golden State Tobacco Securitization Corp., Tobacco Settlement Asset Backed Bonds, Rev., 5.00%, 06/01/2051		3,235		3,390
Hayward Unified School District, COP, 5.25%, 08/01/2047		3,000		3,122
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, Green Bond Measure R, Rev., 5.00%, 06/01/2027		1,000		1,074
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue, Proposition C, Series A, Rev., 5.00%, 07/01/2027		1,255		1,354
Los Angeles County Metropolitan Transportation Authority, Measure R Junior Subordinated, Green Bonds, Series A, Rev., 5.00%, 06/01/2034		7,000		7,476
Los Angeles County Sanitation Districts Financing Authority, Series A, Rev., 4.00%, 10/01/2033		1,000		1,026
Los Angeles County, Metropolitan Transportation Authority, Green Bond, Measure R Junior Subordinated, Series A, Rev., 5.00%, 06/01/2030		1,500		1,731

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Los Angeles Department of Water,
Series B, Rev., 4.00%, 07/01/2027		1,500		1,562
Series B, Rev., 4.00%, 07/01/2029		1,000		1,072
Series B, Rev., 5.00%, 07/01/2037		740		806
Los Angeles Department of Water & Power,
Series A, Rev., 5.00%, 07/01/2029		3,000		3,384
Series B, Rev., 5.00%, 07/01/2039		500		575
Series C, Rev., 5.00%, 07/01/2038		275		316
Series E, Rev., 5.00%, 07/01/2044		2,000		2,006
Los Angeles Department of Water & Power Water System Revenue,
Series A, Rev., 4.00%, 07/01/2047		8,000		7,857
Series A, Rev., 5.00%, 07/01/2044		1,000		1,001
Los Angeles Department of Water & Power, Power System Bonds, Series C, Rev., 5.00%, 07/01/2037		1,000		1,105
Los Angeles Department of Water & Power, Power System Revenue,
Series A, Rev., 5.25%, 07/01/2049		9,500		10,210
Series B, Rev., 5.00%, 07/01/2038		1,000		1,051
Los Angeles Department of Water and Power, Power System, Series A5, Rev., VRDO, 4.35%, 04/01/2024 (z)		5,760		5,760
Los Angeles Unified School District,
Series A, GO, 3.00%, 01/01/2034		2,000		1,964
Series C, GO, 4.00%, 07/01/2036		1,000		1,064
Series C, GO, 4.00%, 07/01/2038		2,860		2,997
Series C, GO, 5.00%, 07/01/2026		2,285		2,395
Series RYQ, GO, 5.00%, 07/01/2035		1,280		1,466
Los Angeles Unified School District, Election 2008, Series B1, GO, BAM, 5.00%, 07/01/2029		100		109
Los Angeles Unified School District, Sustainability Bonds, Series QRR, GO, 5.00%, 07/01/2026		550		577
Marin Municipal Water District, Subordinate, Rev., 4.00%, 06/15/2045		3,500		3,554
Metropolitan Water District of Southern California, Rev., 5.00%, 01/01/2038		3,015		3,260
Municipal Improvement Corp. of Los Angeles, Real Property, Series B, Rev., 5.00%, 11/01/2039		2,535		2,849
Natomas Unified School District,
Series A, GO, AGM, 4.00%, 08/01/2045		7,740		7,614
Series A, GO, AGM, 4.00%, 08/01/2049		2,655		2,595
Norman Y Mineta San Jose International Airport SJC,
Series A, Rev., AMT, 5.00%, 03/01/2027		1,480		1,540
Series A, Rev., AMT, 5.00%, 03/01/2031		1,000		1,106
Series A, Rev., AMT, 5.00%, 03/01/2032		2,000		2,211
Series A, Rev., AMT, 5.00%, 03/01/2036		1,160		1,201
Northern California Energy Authority, Series A, Rev., 4.00%, 07/01/2049 (z)		2,000		2,000
Norwalk-La Mirada Unified School District, Series D, GO, 3.00%, 08/01/2043		2,000		1,698
Norwalk-La Mirada Unified School District, Election 2014, Series E, GO, 3.00%, 08/01/2050		10,000		7,772
Oakland Unified School District, Election Of 2020,
Series A, GO, AGM, 5.00%, 08/01/2037		1,850		2,170
Series A, GO, AGM, 5.25%, 08/01/2041		1,410		1,652
Oakland Unified School District/Alameda County, Election Of 2012, Series A, GO, AGM, 4.00%, 08/01/2034		1,000		1,028
Ontario International Airport Authority, Series A, Rev., AGM, 5.00%, 05/15/2046		1,500		1,638
Orange County Community Facilities District, District No. 2021-1 Rienda, Series A, Special Tax, 5.00%, 08/15/2033		300		325

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Orange County Transportation Authority, 405 Improvement Project, Rev., BAN, 5.00%, 10/15/2024 (p)		3,230		3,259
Oxnard Union High School District, Series B, GO, 5.00%, 08/01/2045		3,000		3,181
Palo Alto Unified School District, Capital Appreciation Election Of 2008, GO, Zero Coupon, 08/01/2032		15,385		12,224
Palomar Health, Rev., 5.00%, 11/01/2039		4,000		4,020
Palomar Health, Capital Appreciation, Electric of 2004,
Series A, GO, AGC, Zero Coupon, 08/01/2028		500		435
Series A, GO, AGC, Zero Coupon, 08/01/2031		330		260
Peralta Community College District, GO, 5.25%, 08/01/2037		2,000		2,374
Pittsburg Public Financing Authority, Series A, Rev., AGM, 4.13%, 08/01/2047		1,400		1,424
Port of Oakland, Intermediate Lien,
Series H, Rev., AMT, 5.00%, 05/01/2027		2,500		2,607
Series H, Rev., AMT, 5.00%, 05/01/2028		4,275		4,521
Series H, Rev., AMT, 5.00%, 05/01/2029		980		1,050
River Islands Public Financing Authority, Community Facilities District No. 2003-1, Special Tax, AGM, 5.25%, 09/01/2052		1,085		1,182
Sacramento City Unified School District, GO, BAM, 5.00%, 07/01/2031		525		605
Sacramento City Unified School District, Election of 2020 Measure, GO, BAM, 5.00%, 08/01/2024		860		864
Sacramento County Sanitation Districts Financing Authority, Series A, Rev., 5.00%, 12/01/2044		4,250		4,250
Sacramento Municipal Utility District, Electric, Series H, Rev., 4.00%, 08/15/2040		2,000		2,047
San Bernardino Community College District, Election of 2018, Series A, GO, 3.00%, 08/01/2041 (p)		2,000		2,024
San Diego Community College District, GO, 4.00%, 08/01/2032 (p)		2,910		2,992
San Diego County Regional Airport Authority, Subordinate, Series B, Rev., AMT, 4.00%, 07/01/2036		1,090		1,099
San Diego County Regional Airport Authority, Subordinated,
Rev., 5.00%, 07/01/2034		1,000		1,145
Series B, Rev., AMT, 5.00%, 07/01/2031		775		809
San Diego Public Facilities Financing Authority, Series A, Rev., 5.00%, 05/15/2039		1,565		1,621
San Diego Unified School District, Series K2, GO, Zero Coupon, 07/01/2038		2,045		1,177
San Diego Unified School District, Election 2008, Series E, GO, Zero Coupon, 07/01/2034		1,250		920
San Diego Unified School District, Election 2012, Series I, GO, 4.00%, 07/01/2047		8,000		7,965
San Diego Unified School District, Election Of 2008,
Series SR-3A, GO, 5.00%, 07/01/2034		500		609
Series SR-3A, GO, 5.00%, 07/01/2035		500		607
San Dieguito School Facilities Financing Authority, Special Tax, 5.00%, 03/01/2031		1,030		1,117
San Francisco Bay Area Rapid Transit District Sales Tax Revenue, Series A, Rev., 4.00%, 07/01/2037		2,350		2,407
San Francisco Bay Area Rapid Transit District, Election 2004, Green Bond, GO, 5.00%, 08/01/2036		1,875		1,988
San Francisco Bay Area Rapid Transit District, Green Bonds, Series C1, GO, 4.00%, 08/01/2032		1,000		1,069
San Francisco Bay Area Rapid Transit District, Sustainable Bond Transit District, GO, 3.00%, 08/01/2037		2,495		2,267
San Francisco City & County Airport Commission-San Francisco International Airport,
Series H, Rev., AMT, 5.00%, 05/01/2025		1,500		1,522
Series H, Rev., AMT, 5.00%, 05/01/2028		3,000		3,177

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
San Francisco City & County Airport Commission-San Francisco International Airport, Unrefunded,
Rev., AMT, 5.00%, 05/01/2027		775		808
Series A, Rev., AMT, 5.00%, 05/01/2044		1,495		1,496
San Francisco City & County Airport Comm-San Francisco International Airport,
Series A, Rev., AMT, 5.00%, 05/01/2025		2,000		2,029
Series A, Rev., AMT, 5.00%, 05/01/2027		3,000		3,129
Series A, Rev., AMT, 5.00%, 05/01/2030		2,000		2,186
Series A, Rev., AMT, 5.00%, 05/01/2032		2,000		2,216
Series C, Rev., 5.00%, 05/01/2046		1,920		1,967
Series H, Rev., AMT, 5.00%, 05/01/2027		5,500		5,738
San Francisco City & County Public Utilities Commission Wastewater Revenue, Green Bonds, Series C, Rev., 4.00%, 10/01/2048 (z)		2,290		2,397
San Francisco City & County Redevelopment Agency Successor Agency, Community Facilities No. 6 Mission Bay,
Special Tax, AGM, 5.00%, 08/01/2036		1,000		1,177
Special Tax, AGM, 5.25%, 08/01/2037		1,000		1,186
Special Tax, AGM, 5.25%, 08/01/2038		1,000		1,177
San Jacinto Unified School District, Election 2016, GO, 4.00%, 08/01/2042		3,870		3,975
San Joaquin Hills Transportation Corridor Agency, Junior Lien,
Series B, Rev., 5.25%, 01/15/2044		8,020		8,119
Series B, Rev., 5.25%, 01/15/2049		8,000		8,093
San Joaquin Hills Transportation Corridor Agency, Senior Lien Toll Road, Rev., 4.00%, 01/15/2034		3,000		3,194
San Jose Unified School District, Taxable, GO, 1.01%, 08/01/2027		1,700		1,521
San Mateo County Community College District, Capital Appreciation Election 2005, Series B, GO, NATL, Zero Coupon, 09/01/2035		1,955		1,357
Santa Clara Valley Water District, Water System Utility Improvement, COP, 5.00%, 06/01/2038		2,495		2,806
Santaluz Community Facilities District No. 2, Special Tax, 3.00%, 09/01/2024		95		95
Sierra View Local Health Care District, Tulare Co., Rev., 4.00%, 07/01/2024		475		474
South San Francisco Public Facilities Financing Authority, Multiple Capital Projects at Orange Memorial Park, Rev., 5.25%, 06/01/2046		1,000		1,096
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		452
GO, 4.00%, 11/01/2041		1,000		1,002
GO, 5.00%, 09/01/2024		1,670		1,681
GO, 5.00%, 10/01/2026		2,000		2,098
GO, 5.00%, 04/01/2027		145		154
GO, 5.00%, 09/01/2027		2,000		2,141
GO, 5.00%, 04/01/2028		1,000		1,086
GO, 5.00%, 09/01/2028		3,160		3,463
GO, 5.00%, 04/01/2029		80		89
GO, 5.00%, 09/01/2029		2,005		2,240
GO, 5.00%, 11/01/2029		8,215		9,210
GO, 5.00%, 09/01/2034		6,000		6,882
GO, 5.00%, 09/01/2043 (w)		3,500		3,959
GO, 5.00%, 10/01/2047		1,500		1,542

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 CU, GO, 5.50%, 12/01/2052		240		263
State of California, Bidding Group A, GO, 5.00%, 09/01/2027		3,000		3,212
State of California, Taxable, GO, 4.60%, 04/01/2038		16,000		15,449
State of California, Taxable Bidding Group A, GO, 1.75%, 10/01/2028		5,000		4,449
State of California, Taxable Group B, GO, 5.50%, 10/01/2025		9,000		9,071
State of California, Various Purpose,
GO, 4.00%, 09/01/2031		1,000		1,021
GO, 4.00%, 11/01/2033		3,550		3,670
GO, 4.00%, 10/01/2035		2,825		3,016
GO, 4.00%, 10/01/2036		8,850		9,378
GO, 4.00%, 10/01/2037		6,000		6,303
GO, 5.00%, 10/01/2029		1,000		1,119
GO, 5.00%, 04/01/2031		1,000		1,153
GO, 5.00%, 03/01/2034		2,180		2,462
GO, 5.00%, 03/01/2035		505		567
GO, 5.00%, 04/01/2035		1,000		1,101
State of California, Veterans Bonds, GO, 5.00%, 12/01/2031		5,500		5,560
Stockton Unified School District, Series B, GO, AGM, 5.00%, 08/01/2031		5,000		5,813
Tobacco Securitization Authority of Southern California, San Diego County Tobacco Asset Securitization,
Rev., 5.00%, 06/01/2027		750		793
Rev., 5.00%, 06/01/2028		750		807
University of California,
Series AR, Rev., 5.00%, 05/15/2041		2,000		2,071
Series BM, Rev., 5.00%, 05/15/2029		5,000		5,615
Series BN, Rev., 5.00%, 05/15/2037		1,000		1,169
Series BN, Rev., 5.00%, 05/15/2038		5,000		5,830
Series BT, Rev., 5.00%, 05/15/2026		4,000		4,177
Series BV, Rev., 5.00%, 05/15/2039		3,000		3,531
Series S, Rev., 5.00%, 05/15/2031		1,500		1,745
University of California, Limited Project,
Series K, Rev., 5.00%, 05/15/2035		1,980		2,062
Series M, Rev., 4.00%, 05/15/2047		1,300		1,276
Series M, Rev., 5.00%, 05/15/2034		1,500		1,598
University of California, Limited Project Bonds, Series Q, Rev., 4.00%, 05/15/2040		1,000		1,037
University of California, Limited Project Revenue Bonds, Series Q, Rev., 5.00%, 05/15/2032		350		406
Upper Santa Clara Valley Joint Powers Authority,
Series A, Rev., 4.00%, 08/01/2045		1,500		1,484
Series A, Rev., 4.00%, 08/01/2050		2,000		1,952
Victor Valley Union High School District, Series B, GO, AGM, 4.00%, 08/01/2036		1,270		1,291
West Contra Costa Healthcare District, Special Tax, 5.00%, 07/01/2027		805		862
William S Hart Union High School District, Capital Appreciation Election 2001, Series B, GO, AGM, Zero Coupon, 09/01/2025		1,960		1,868
				856,640
Colorado — 3.0%
Adams & Weld Counties School District No. 27J Brighton, GO, 5.00%, 12/01/2042		1,000		1,044
Aerotropolis Regional Transportation Authority, Rev., 4.25%, 12/01/2041		500		446
Alpine Mountain Ranch Metropolitan District Special Improvement District No. 1, Special Assessment, 4.00%, 12/01/2040		500		433
Board of Water Commissioners City & County of Denver, Green Bond, Series A, Rev., 4.00%, 09/15/2042		2,180		2,180

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Brighton Crossing Metropolitan District No. 6, Series A, GO, 5.00%, 12/01/2035		525		517
Castle Oaks Metropolitan District No. 3, GO, AGM, 4.00%, 12/01/2026		220		224
Centennial Water & Sanitation District, Rev., 5.00%, 12/01/2053		2,750		2,990
Centerra Metropolitan District No. 1, Rev., 6.50%, 12/01/2053		500		512
City & County of Denver Airport System Revenue,
Series A, Rev., AMT, 4.00%, 11/15/2041		3,000		2,945
Series A, Rev., AMT, 5.00%, 11/15/2026		3,500		3,636
Series A, Rev., AMT, 5.00%, 11/15/2027		3,000		3,173
Series A, Rev., AMT, 5.00%, 11/15/2028		1,000		1,077
Series A, Rev., AMT, 5.00%, 11/15/2029		1,000		1,092
Series A, Rev., AMT, 5.00%, 12/01/2030		3,000		3,302
Series A, Rev., AMT, 5.00%, 11/15/2047		13,500		14,334
Series A, Rev., AMT, 5.50%, 11/15/2053		4,000		4,353
Series B2, Rev., AMT, 5.00%, 11/15/2031 (z)		1,000		1,016
Series B, Rev., 5.25%, 11/15/2053		4,775		5,263
Series D, Rev., AMT, 5.75%, 11/15/2040		4,750		5,446
Series D, Rev., AMT, 5.75%, 11/15/2041		3,000		3,424
Series D, Rev., AMT, 5.75%, 11/15/2045		11,050		12,438
City & County of Denver Airport System Revenue, Subordinate,
Series B, Rev., AMT, 5.00%, 11/15/2029		3,250		3,534
Series B, Rev., AMT, 5.00%, 11/15/2030		6,215		6,838
Series B, Rev., AMT, 5.00%, 11/15/2031		4,250		4,731
Series B, Rev., AMT, 5.50%, 11/15/2037		700		809
City & County of Denver Airport System Revenue, Subordinated,
Series A, Rev., AMT, 5.00%, 12/01/2027		5,840		6,168
Series A, Rev., AMT, 5.00%, 12/01/2034		2,510		2,673
Series A, Rev., AMT, 5.00%, 12/01/2043		3,000		3,093
City & County of Denver Dedicated Excise Tax Revenue, Series A, Rev., 4.00%, 08/01/2051		9,925		9,580
Colorado Bridge Enterprise, Central 70 Project,
Rev., AMT, 4.00%, 12/31/2025		1,000		1,001
Rev., AMT, 4.00%, 12/31/2030		1,505		1,505
Colorado Educational & Cultural Facilities Authority, Aspen View Academy Project,
Rev., 4.00%, 05/01/2036		175		166
Rev., 4.00%, 05/01/2041		175		154
Colorado Health Facilities Authority, AdventHealth Obligated Group,
Rev., 3.00%, 11/15/2051		9,790		7,327
Rev., 4.00%, 11/15/2038		2,000		2,015
Rev., 5.00%, 11/15/2038		1,000		1,106
Colorado Health Facilities Authority, Adventist Health System, Rev., 5.00%, 11/15/2036 (z)		1,295		1,350
Colorado Health Facilities Authority, Children’s Hospital, Series C, Rev., 5.00%, 12/01/2030		1,000		1,036
Colorado Health Facilities Authority, Commonspirit Health,
Rev., 5.25%, 11/01/2052		2,710		2,908
Series A1, Rev., 5.00%, 08/01/2027		1,025		1,082
Series A1, Rev., 5.00%, 08/01/2034		1,240		1,350
Series A2, Rev., 5.00%, 08/01/2028		2,215		2,383
Series A2, Rev., 5.00%, 08/01/2044		20,440		21,335
Series A, Rev., 5.00%, 12/01/2034		5,680		6,670
Colorado Health Facilities Authority, Improvement Bonds Christian Living Communities, Rev., 4.00%, 01/01/2042		500		434
Colorado Health Facilities Authority, Intermountain Healthcare, Rev., 5.00%, 05/15/2052		2,500		2,648

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, Sanford Health, Series A, Rev., 4.00%, 11/01/2039		1,020		1,005
Colorado Health Facilities Authority, SCL Health System, Series A, Rev., 5.00%, 01/01/2030		1,175		1,317
Colorado Housing and Finance Authority, Series H, Rev., GNMA COLL, 3.00%, 05/01/2050		1,750		1,701
Colorado Housing and Finance Authority, Class III Bonds Sustainable Bond, Rev., GNMA COLL, 6.50%, 05/01/2054		700		780
Colorado Housing and Finance Authority, Social Bonds,
Series E, Rev., GNMA, 3.00%, 11/01/2051		2,535		2,450
Series H, Rev., GNMA, 3.00%, 11/01/2051		1,120		1,079
Series I, Rev., GNMA COLL, 6.00%, 05/01/2053		1,380		1,507
Series L, Rev., GNMA COLL, 3.25%, 11/01/2051		1,545		1,500
Colorado Housing and Finance Authority, Wintergreen Ridge Apartments Project, Rev., 4.00%, 05/01/2041 (z)		80		80
Copperleaf Metropolitan District No. 2, GO, BAM, 4.00%, 12/01/2025		470		475
Crystal Valley, Metropolitan District No. 2,
Series A, GO, AGM, 5.00%, 12/01/2028		500		545
Series A, GO, AGM, 5.00%, 12/01/2030		360		407
Denver City & County, School District No. 1, GO, 5.00%, 12/01/2029		1,000		1,050
Denver Convention Center Hotel Authority, Senior, Rev., 5.00%, 12/01/2036		1,320		1,346
Denver Urban Renewal Authority, Senior Subordinated Stapleton, Series B, Tax Allocation, 5.00%, 12/01/2025		500		514
E-470 Public Highway Authority, Series B, Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 09/01/2039 (aa)		1,485		1,483
E-470 Public Highway Authority, Capital Appreciation, Series A, Rev., NATL, Zero Coupon, 09/01/2027		1,250		1,115
E-470 Public Highway Authority, Capital Appreciation School Reform, Series B, Rev., NATL, Zero Coupon, 09/01/2030		290		235
E-470 Public Highway Authority, Senior,
Series A, Rev., 5.00%, 09/01/2027		1,000		1,065
Series A, Rev., 5.00%, 09/01/2028		1,000		1,082
Series A, Rev., 5.00%, 09/01/2040		2,775		2,784
Falcon Area Water & Wastewater Authority, Series A, Rev., 6.75%, 12/01/2034 (e)		3,000		3,009
Garfield Pitkin & Eagle Counties School District No. RE-1 Roaring Fork, GO, 4.00%, 12/15/2034 (p)		2,000		2,026
Jefferson Center Metropolitan District No. 1,
Series A2, Rev., 4.13%, 12/01/2040		575		498
Series A2, Rev., 4.38%, 12/01/2047		795		671
Jefferson County School District, Series R1, GO, 5.00%, 12/15/2031		2,000		2,202
Jefferson County School District No. R-1, GO, 4.00%, 12/15/2032		1,500		1,606
Kremmling Memorial Hospital District, COP, 6.13%, 12/01/2044 (e)		3,850		3,757
Mesa County School District No. 50, GO, 5.50%, 12/01/2049		1,835		2,069
Park Creek Metropolitan District, Senior, Series A, Rev., AGM, 5.00%, 12/01/2043		1,500		1,618
Peak Metropolitan District No. 3, GO, 0.00%, 12/01/2042		3,950		2,358
Public Authority for Colorado Energy, Rev., 6.50%, 11/15/2038		6,000		7,418
Pueblo Urban Renewal Authority, EVRAZ Project Tax, Increment, Tax Allocation, 4.75%, 12/01/2045 (e)		635		429
Regional Transportation District Sales Tax Revenue, Fastracks Project, Series A, Rev., 5.00%, 11/01/2033		1,000		1,198
Regional Transportation District, Denver Transit Partners Eagle,
Series A, Rev., 5.00%, 07/15/2026		575		592
Series A, Rev., 5.00%, 01/15/2027		1,000		1,039

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Series A, Rev., 5.00%, 01/15/2032		1,470		1,623
Siena Lake Metropolitan District, GO, 3.75%, 12/01/2041		500		398
South Suburban Park & Recreation District, COP, 4.00%, 12/15/2036		1,350		1,376
Spring Valley Metropolitan District No. 3, Series A, GO, 5.00%, 12/01/2049		1,360		1,288
State of Colorado,
COP, 6.00%, 12/15/2041		15,000		17,981
Series A, COP, 4.00%, 12/15/2039		1,500		1,532
Series A, COP, 5.00%, 12/15/2029		1,000		1,118
Series L, COP, 5.00%, 03/15/2028		1,000		1,077
Sterling Ranch Metropolitan District No. 1, GO, 5.00%, 12/01/2040		500		483
University of Colorado, Series B1, Rev., 4.00%, 06/01/2034 (p)		4,000		4,083
University of Colorado, University Enterprise, Rev., 2.00%, 06/01/2051 (z)		4,000		3,859
Verve Metropolitan District No. 1, GO, 5.00%, 12/01/2036		1,500		1,311
Village Metropolitan District (The), GO, 4.15%, 12/01/2030		425		413
Villages at Johnstown Metropolitan District No. 3, Senior Bond, Series A, GO, 5.00%, 12/01/2040		585		557
Weld County School District No. RE-4,
GO, 5.00%, 12/01/2029		1,100		1,235
GO, 5.00%, 12/01/2031		1,000		1,163
GO, 5.25%, 12/01/2047		5,000		5,566
Windler Public Improvement Authority, Series A1, Rev., 4.00%, 12/01/2036		2,565		2,256
Windy Gap Firming Project Water Activity Enterprise, Windy Gap Firming Project, Rev., 5.00%, 07/15/2051		5,000		5,328
				268,398
Connecticut — 1.2%
City of Bridgeport, Series A, GO, 4.00%, 06/01/2039		250		252
Connecticut Housing Finance Authority, Social Bonds,
Series A1, Rev., 3.50%, 11/15/2051		65		63
Series B, Rev., 4.50%, 11/15/2043		2,725		2,733
Connecticut Housing Finance Authority, Sustainable Bond, Housing Mortgage Finance,
Rev., 5.13%, 11/15/2043		5,000		5,363
Rev., 6.25%, 05/15/2054		5,000		5,454
Connecticut Housing Finance Authority, Sustainable Bonds, Rev., GNMA/FNMA/FHLMC, 4.45%, 11/15/2044		10,000		10,010
Connecticut State Health & Educational Facilities Authority,
Series 2017 B1, Rev., 5.00%, 07/01/2029		4,845		5,434
Series A, Rev., 2.80%, 07/01/2048 (z)		2,000		1,965
Connecticut State Health & Educational Facilities Authority, Connecticut Children’s Medical Center, Rev., 5.25%, 07/15/2048		4,575		4,945
Connecticut State Health & Educational Facilities Authority, Hartford Healthcare Project,
Series A, Rev., 5.00%, 07/01/2026		555		572
Series A, Rev., 5.00%, 07/01/2033		565		621
Connecticut State Health & Educational Facilities Authority, Quinnipiac University Issue, Rev., 5.00%, 07/01/2048		3,000		3,170
Connecticut State Health & Educational Facilities Authority, Stamford Hospital Issue,
Rev., 4.00%, 07/01/2035		1,000		1,000
Rev., 4.00%, 07/01/2038		2,500		2,462
Rev., 4.00%, 07/01/2041		2,250		2,145
Rev., 5.00%, 07/01/2024		175		175
Rev., 5.00%, 07/01/2030		865		937

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		3,970
Connecticut State Higher Education Supplement Loan Authority, CHESLA Loan Program, Series B, Rev., AMT, 5.00%, 11/15/2030		500		537
Connecticut State, Health & Educational Facilities Authority, Sacred Heart University,
Series K, Rev., 4.00%, 07/01/2045		2,625		2,573
Series K, Rev., 5.00%, 07/01/2037		950		1,027
Connecticut State, Health & Educational Facilities Authority, Yale University, Series C1, Rev., 5.00%, 07/01/2040 (z)		3,220		3,489
State of Connecticut,
Series 2021A, GO, 3.00%, 01/15/2026		5,000		4,971
Series 2021A, GO, 3.00%, 01/15/2032		2,250		2,227
Series 2021A, GO, 3.00%, 01/15/2033		500		491
Series 2021A, GO, 4.00%, 01/15/2028		3,500		3,646
Series A, GO, 4.00%, 03/15/2032		850		852
Series B, GO, 5.00%, 08/01/2033		1,750		2,082
Series C, GO, 5.00%, 06/15/2037		40		46
State of Connecticut Special Tax Revenue,
Series A, Rev., 5.00%, 07/01/2028		500		544
Series A, Rev., 5.00%, 05/01/2035		500		571
Series A, Rev., 5.25%, 07/01/2042		10,000		11,378
Series D, Rev., 4.00%, 11/01/2038		3,500		3,626
Series D, Rev., 5.00%, 11/01/2028		1,480		1,623
Series D, Rev., 5.00%, 11/01/2033		1,675		1,939
State of Connecticut, Social Bonds,
Series B, GO, 4.00%, 01/15/2038		500		521
Series F, GO, 5.00%, 11/15/2041		1,525		1,710
State of Connecticut, Special Tax Obligation Bonds, Rev., 5.00%, 05/01/2040		300		327
State of Connecticut, Special Tax Revenue, Transportation Infrastructure, Series A, Rev., 5.00%, 09/01/2031		1,220		1,227
State of Connecticut, Sustainale Bond,
Series B, GO, 4.00%, 01/15/2041		1,000		1,023
Series B, GO, 5.00%, 01/15/2040		1,000		1,143
Steel Point Infrastructure Improvement District, Steelpointe Harbor Project, Tax Allocation, 4.00%, 04/01/2036 (e)		195		174
Town of Hamden,
GO, BAM, 4.00%, 08/15/2027		535		543
GO, BAM, 5.00%, 08/15/2029		575		630
GO, BAM, 5.00%, 08/15/2031		500		565
Series A, GO, BAM, 5.00%, 08/01/2032		2,255		2,511
University of Connecticut,
Series A, Rev., 5.00%, 02/15/2025		1,200		1,216
Series A, Rev., 5.00%, 01/15/2037		3,000		3,119
Series A, Rev., 5.00%, 08/15/2039		650		740
Series A, Rev., 5.00%, 08/15/2040		860		972
				109,314

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.3%
Delaware State Economic Development Authority, NRG Energy Project, Rev., 1.25%, 10/01/2045 (z)		4,065		3,821
Delaware State Health Facilities Authority, Christiana Health Care System, Rev., 5.00%, 10/01/2039		5,345		5,688
Delaware Transportation Authority,
Rev., 5.00%, 07/01/2027		1,000		1,068
Rev., 5.00%, 07/01/2033		2,265		2,577
Delaware Transportation Authority, Garvee, Rev., 5.00%, 09/01/2025		1,000		1,025
State of Delaware,
GO, 2.00%, 02/01/2036		6,910		5,581
GO, 4.00%, 02/01/2031		1,000		1,052
GO, 5.00%, 02/01/2028		5,020		5,446
GO, 5.00%, 02/01/2031		85		98
				26,356
District of Columbia — 1.6%
District of Columbia,
Rev., 5.00%, 06/01/2040		1,725		1,663
Series A, Rev., 4.00%, 03/01/2037		2,000		2,056
Series A, Rev., 4.00%, 03/01/2040		10,000		10,137
Series A, GO, 5.00%, 01/01/2027		475		502
Series A, Rev., 5.00%, 03/01/2031		1,500		1,679
Series A, GO, 5.00%, 01/01/2038		1,000		1,152
Series A, GO, 5.00%, 01/01/2040		2,400		2,718
Series B, GO, 5.00%, 06/01/2025		1,000		1,020
Series C, Rev., 4.00%, 05/01/2039		2,500		2,550
Series C, Rev., 4.00%, 05/01/2045		5,000		4,940
Series D, GO, 5.00%, 02/01/2028		820		888
Series D, GO, 5.00%, 02/01/2029		70		77
Series D, GO, 5.00%, 02/01/2034		5,000		5,749
Series E, GO, 5.00%, 06/01/2025		2,000		2,040
Series E, GO, 5.00%, 02/01/2028		110		119
District of Columbia Housing Finance Agency, Kenilworth 166 Apartments, Rev., HUD, 1.25%, 06/01/2025 (z)		3,225		3,156
District of Columbia Income Tax Revenue,
Series A, Rev., 5.00%, 10/01/2034		2,000		2,436
Series A, Rev., 5.00%, 10/01/2035		13,270		16,050
Series A, Rev., 5.00%, 10/01/2037		2,000		2,364
Series A, Rev., 5.00%, 05/01/2038		1,450		1,674
Series A, Rev., 5.00%, 05/01/2039		2,000		2,293
District of Columbia Water & Sewer Authority, Green Bond Subordinate, Series A, Rev., 5.00%, 10/01/2038		1,010		1,103
District of Columbia Water & Sewer Authority, Subordinate, Series C1, Rev., 5.00%, 10/01/2031		2,000		2,326
District of Columbia, Latin American Montessori, Rev., 4.00%, 06/01/2030		745		725
District of Columbia, National Public Radio,
Rev., 4.00%, 04/01/2032 (p)		1,500		1,526
Rev., 5.00%, 04/01/2028 (p)		270		280
Rev., 5.00%, 04/01/2029 (p)		275		285

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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,
Rev., AMT, 5.00%, 10/01/2026		1,335		1,384
Rev., AMT, 5.00%, 10/01/2029		2,000		2,099
Series A, Rev., AMT, 5.00%, 10/01/2027		1,515		1,599
Metropolitan Washington Airports Authority Aviation Revenue,
Rev., AMT, 5.00%, 10/01/2027		1,000		1,056
Series A, Rev., AMT, 5.00%, 10/01/2025		450		459
Series A, Rev., AMT, 5.00%, 10/01/2028		4,880		5,243
Series A, Rev., AMT, 5.00%, 10/01/2030		6,000		6,123
Series A, Rev., AMT, 5.00%, 10/01/2032		5,000		5,514
Series A, Rev., AMT, 5.00%, 10/01/2034		8,000		8,038
Series A, Rev., AMT, 5.00%, 10/01/2044		3,890		3,895
Series A, Rev., AMT, 5.25%, 10/01/2039		1,135		1,262
Series A, Rev., AMT, 5.25%, 10/01/2048		7,000		7,540
Metropolitan Washington Airports Authority Aviation Revenue, Airport System, Series A, Rev., AMT, 5.00%, 10/01/2033		3,000		3,239
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Dulles Metrorail & Capital, Rev., AGM, 4.00%, 10/01/2052		10,000		9,521
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Subordinated Dulles Metrorail, Rev., AGM, 4.00%, 10/01/2053		1,965		1,846
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		1,053
Series A, Rev., 5.00%, 10/01/2033		1,000		1,117
Washington Convention & Sports Authority, Senior Lien,
Series B, Tax Allocation, 5.00%, 10/01/2029		1,000		1,107
Series B, Tax Allocation, 5.00%, 10/01/2030		1,500		1,687
Washington Metropolitan Area Transit Authority,
Series A, Rev., 5.00%, 07/15/2026		1,650		1,721
Series A, Rev., 5.00%, 07/15/2037		2,000		2,212
Series B, Rev., 5.00%, 07/01/2032		1,115		1,178
Washington Metropolitan Area Transit Authority Dedicated Revenue, Series A, Rev., 5.00%, 07/15/2025		1,990		2,034
Washington Metropolitan Area Transit Authority Dedicated Revenue, Sustainability Financed Bond, Rev., 5.00%, 07/15/2029		3,000		3,338
Washington Metropolitan Area Transit Authority, Green Bond, Series A, Rev., 5.00%, 07/15/2029		1,540		1,713
				147,864
Florida — 4.6%
Alachua County Health Facilities Authority, Oak Hammock at The University of Florida, Inc. Project, Rev., 4.00%, 10/01/2031		615		596
Alachua County Health Facilities Authority, Shands Teaching Hospital & Clinics, Rev., 5.00%, 12/01/2034		2,570		2,751
Ave Maria Stewardship Community District, Phase 3 Master Improvements Project,
Special Assessment, 2.75%, 05/01/2031		420		382
Special Assessment, 3.13%, 05/01/2041		1,775		1,413
Belmond Reserve Community Development District, 202 Project, Special Assessment, 4.00%, 05/01/2040		345		342

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Belmont II Community Development District, 2020 Assessment Area,
Special Assessment, 2.50%, 12/15/2025		10		10
Special Assessment, 3.13%, 12/15/2030		125		119
Boggy Branch Community Development District, Special Assessment, 2.50%, 05/01/2026		195		188
Brevard County Health Facilities Authority, Health First Obligated Group, Rev., 5.00%, 04/01/2052		3,235		3,380
Brevard County Health Facilities Authority, Health First, Inc.,
Rev., 4.00%, 04/01/2036		1,790		1,777
Rev., 5.00%, 04/01/2025		1,600		1,600
Broward County Housing Finance Authority, Pinnacle 441 Phase 2, Rev., 4.05%, 09/01/2056 (z)		990		994
Broward County Housing Finance Authority, Solaris Apartments, Series B, Rev., 0.70%, 01/01/2025 (z)		1,470		1,452
Broward County Water & Sewer Utility Revenue, Series A, Rev., 4.00%, 10/01/2038		675		704
Capital Projects Finance Authority, Florida University Project, Series A1, Rev., 5.00%, 10/01/2032		1,350		1,400
Capital Projects Finance Authority, IPS Enterprises, Inc. Projects, Rev., 7.00%, 06/15/2030 (e)		4,000		4,178
Capital Trust Agency, Inc., Imagine School at North Manatee, Rev., 5.00%, 06/01/2041 (e)		325		303
Capital Trust Agency, Inc., Lutz Preparatory School, Inc. Project, Series A, Rev., 4.00%, 06/01/2041		300		280
Capital Trust Agency, Inc., Tallahassee Classical School, Rev., 4.00%, 07/01/2036 (e)		1,370		1,137
Capital Trust Authority, Ips Enterprises, Inc., Series A, Rev., 6.00%, 06/15/2043 (e)		4,350		4,506
Central Florida Expressway Authority,
Series D, Rev., 5.00%, 07/01/2029		565		622
Series D, Rev., AGM, 5.00%, 07/01/2034		3,000		3,424
Series D, Rev., AGM, 5.00%, 07/01/2035		10,000		11,301
Central Florida Expressway Authority, Senior Lien,
Rev., AGM, 4.00%, 07/01/2038		3,625		3,717
Rev., AGM, 4.00%, 07/01/2039		1,260		1,287
Centre Lake Community Development District, Special Assessment, 3.00%, 05/01/2042		605		474
Chapel Creek Community Development District, Special Assessment, 3.00%, 05/01/2031 (e)		220		200
Charlotte County Industrial Development Authority, Town & Country Utilities Project, Rev., AMT, 5.00%, 10/01/2049 (e)		1,545		1,545
City of Jacksonville, Series A, Rev., 5.00%, 10/01/2034		1,250		1,407
City of Jacksonville, Baptist Health, Rev., VRDO, 3.64%, 04/04/2024 (z)		5,060		5,060
City of Jacksonville, Brooks Rehabilitation Project,
Rev., 4.00%, 11/01/2034		500		503
Rev., 4.00%, 11/01/2045		1,500		1,359
City of Miami Beach, Arts and Cultural Facilities, Series A, GO, 5.25%, 05/01/2053		5,000		5,449
City of Pompano Beach, John Knox Village Project, Series A, Rev., 4.00%, 09/01/2036		175		163
City of Port St. Lucie Stormwater Utility Revenue, Rev., 4.00%, 05/01/2039		1,075		1,085
City of Tallahassee, Energy System Revenue, Rev., 5.00%, 10/01/2028		2,000		2,173
City of Tampa, Baycare, Series A, Rev., 5.00%, 11/15/2046		10,000		10,144
City of Tampa, H. Lee Moffitt Cancer Center, Rev., 5.00%, 07/01/2050		2,000		2,078
Collier County Health Facilities Authority, The Moorings, Inc., Rev., 4.00%, 05/01/2052		145		134
County of Broward Port Facilities Revenue, Rev., AMT, 5.50%, 09/01/2052		3,675		3,963
County of Broward Tourist Development Tax Revenue, Convention Center Expansion Project, Rev., 5.00%, 09/01/2031		3,000		3,422
County of Broward, Airport System Revenue,
Rev., AMT, 5.00%, 10/01/2033		655		686
Series A, Rev., AMT, 5.00%, 10/01/2028		800		854
Series A, Rev., AMT, 5.00%, 10/01/2036		2,000		2,136

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Broward, Port Facilities Revenue, Senior Bond, Series B, Rev., AMT, 4.00%, 09/01/2044		3,000		2,907
County of Broward, Tourist Development Tax Revenue, Convention Center Expansion Project, Rev., 4.00%, 09/01/2047		3,000		2,895
County of Hillsborough, Rev., 4.00%, 08/01/2034		4,370		4,593
County of Lee Airport Revenue,
Series B, Rev., AMT, 5.00%, 10/01/2029		180		194
Series B, Rev., AMT, 5.00%, 10/01/2032		2,000		2,197
County of Lee Local Option Gas Tax Revenue, Rev., 5.25%, 08/01/2049		13,000		13,886
County of Miami-Dade Aviation Revenue,
Rev., AMT, 5.00%, 10/01/2028		7,000		7,031
Rev., 5.00%, 10/01/2041		6,000		6,120
Series A, Rev., 5.00%, 10/01/2025		1,250		1,279
Series A, Rev., AMT, 5.00%, 10/01/2027		1,325		1,330
Series A, Rev., AMT, 5.00%, 10/01/2030		2,000		2,032
Series A, Rev., 5.00%, 10/01/2031		2,000		2,254
Series A, Rev., AMT, 5.00%, 10/01/2044		2,200		2,279
Series A, Rev., AMT, 5.00%, 10/01/2049		3,250		3,340
Series B, Rev., AMT, 5.00%, 10/01/2040		10,000		10,286
County of Miami-Dade Seaport Department, Senior Bonds,
Series A, Rev., AMT, 5.00%, 10/01/2030		1,970		2,145
Series A, Rev., AMT, 5.00%, 10/01/2031		2,975		3,279
Series A, Rev., AMT, 5.00%, 10/01/2033		3,500		3,890
Series A, Rev., AMT, 5.25%, 10/01/2052		2,000		2,107
County of Miami-Dade Seaport Department, Subordinate, Series A1, Rev., AGM, AMT, 4.00%, 10/01/2040		2,675		2,638
County of Miami-Dade Transit System,
Rev., 4.00%, 07/01/2048		5,000		4,803
Series A, Rev., 4.00%, 07/01/2045		2,070		2,002
County of Miami-Dade, Building Better Communities Project, Series A, GO, 4.00%, 07/01/2044		350		352
County of Miami-Dade, Public Health Trust Program, GO, 4.00%, 07/01/2042		3,000		3,001
County of Miami-Dade, Water & Sewer System Revenue,
Series B, Rev., 5.00%, 10/01/2031		500		510
Series B, Rev., 5.00%, 10/01/2033		1,000		1,019
County of Monroe Airport Revenue, Key West International Airport, Series 202, Rev., AMT, 5.00%, 10/01/2052		2,450		2,486
County of Orange Water Utility System Revenue, Rev., 5.00%, 10/01/2028		2,040		2,243
Currents Community Development District, Series A, Special Assessment, 4.00%, 05/01/2051 (e)		2,000		1,650
Cypress Mill Community Development District, 2023 Project, Special Assessment, 5.00%, 05/01/2053		1,025		1,014
Daytona Beach Housing Authority, The WM at River Project, Rev., 1.25%, 12/01/2025 (z)		115		112
DG Farms Community Development District, Special Assessment, 3.75%, 05/01/2040		400		354
Duval County Public Schools, Series A, COP, AGM, 5.00%, 07/01/2032		4,750		5,339
Eden Hills Community Development District, Special Assessment, 4.00%, 05/01/2040		300		286
Epperson North Community Development District, Assessment Area, Special Assessment, 2.50%, 05/01/2026		130		125
Epperson Ranch II Community Development District, Assessment Area Two Capital Improvement, Special Assessment, 4.20%, 05/01/2040		1,460		1,339

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Development Finance Corp., Series A, Rev., 4.00%, 06/01/2030		500		471
Florida Development Finance Corp., Brightline Florida Passenger, Rev., AMT, 8.00%, 07/01/2057 (e)		8,500		9,010
Florida Development Finance Corp., Brightline Florida Passenger Rail, Series B, Rev., AMT, 7.38%, 01/01/2049 (e)		9,500		9,900
Florida Development Finance Corp., Brightline Passenger Rail, Rev., AMT, 8.25%, 07/01/2057 (e) (z)		8,225		8,222
Florida Development Finance Corp., Brightline Passenger Rail, Rev., AMT, 7.50%, 07/01/2057 (e)		6,500		6,464
Florida Development Finance Corp., Discovery High School Project, Series A, Rev., 4.00%, 06/01/2030 (e)		1,400		1,275
Florida Development Finance Corp., Lakeland Regional Health System, Rev., 4.00%, 11/15/2037		2,400		2,454
Florida Development Finance Corp., Mater Academy Project, Series A, Rev., 5.00%, 06/15/2040		400		405
Florida Development Finance Corp., Tampa General Hospital Project, Rev., 5.25%, 08/01/2055 (e)		4,750		4,984
Florida Development Finance Corp., UF Health Jacksonville Project, Rev., 5.00%, 02/01/2035		1,200		1,227
Florida Development Finance Corp., Virgin Trains USA Passenger,
Series A, Rev., AMT, 6.38%, 01/01/2049 (e) (z)		3,225		3,225
Series A, Rev., AMT, 6.50%, 01/01/2049 (e) (z)		2,475		2,476
Florida Housing Finance Corp.,
Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		520		501
Series 3, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 01/01/2054		650		705
Florida Housing Finance Corp., Social Bond, Social Bond, Series 1, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,190		1,151
Florida Housing Finance Corp., Social Bonds,
Series 1, Rev., GNMA/FNMA/FHLMC, 3.50%, 07/01/2052		950		930
Series 2, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		5,290		5,124
Florida State Board of Governors Florida International University Dormitory Rev, Series A, Rev., BAM, 5.00%, 07/01/2029		1,900		2,095
Florida State Board of Governors University of North Florida Dormitory Revenue, Series A, Rev., BAM, 5.00%, 11/01/2053		6,375		6,785
Fort Pierce Utilities Authority, Series A, Rev., AGM, 5.00%, 10/01/2039		925		1,019
Greater Orlando Aviation Authority,
Series A, Rev., AMT, 5.00%, 10/01/2026 (p)		1,785		1,814
Series A, Rev., AMT, 5.00%, 10/01/2027 (p)		1,875		1,906
Series A, Rev., AMT, 5.00%, 10/01/2030 (p)		1,005		1,022
Series A, Rev., AMT, 5.00%, 10/01/2032		1,500		1,620
Series A, Rev., AMT, 5.00%, 10/01/2046		5,000		5,065
Greater Orlando Aviation Authority, Priority Subordinated,
Series A, Rev., AMT, 5.00%, 10/01/2033		1,500		1,571
Series A, Rev., AMT, 5.00%, 10/01/2036		2,230		2,319
Hammock Reserve Community Development District, Assessment Area One Project, Special Assessment, 4.00%, 05/01/2040		545		507
Highlands County Health Facilities Authority, Adventist Health System/Sunbelt Obligated Group, Series A, Rev., VRDO, 3.64%, 04/04/2024 (z)		13,550		13,550
Hillsborough County Aviation Authority, Tampa, Rev., AMT, 5.00%, 10/01/2040 (p)		750		753
Hillsborough County Industrial Development Authority, Tampa General Hospital Project,
Rev., 4.00%, 08/01/2050		5,000		4,578
Series A, Rev., 4.00%, 08/01/2045		3,275		3,107

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
JEA Electric System Revenue,
Series 3A, Rev., 5.00%, 10/01/2035		5,000		5,528
Series IIIB, Rev., 5.00%, 10/01/2032		1,295		1,379
JEA Electric System Revenue, Subordinate, Series A, Rev., 5.00%, 10/01/2031		1,795		2,043
JEA Water & Sewer System Revenue, Series A, Rev., 4.00%, 10/01/2037		750		777
JEA Water & Sewer System Revenue, Subordinated, Series A, Rev., 5.00%, 10/01/2031		885		948
Julington Creek Plantation Community Development District, Special Assessment, Special Assessment, AGM, 5.50%, 05/01/2043		1,500		1,668
Lakewood Ranch Stewardship District, Del Webb Project, Special Assessment, 5.00%, 05/01/2037 (e)		1,655		1,677
Lakewood Ranch Stewardship District, Lorraine Lakes Project, Special Assessment, 3.13%, 05/01/2030 (e)		315		293
Lakewood Ranch Stewardship District, Northeast Sector Project,
Special Assessment, 2.50%, 05/01/2025 (e)		605		594
Special Assessment, 3.20%, 05/01/2030 (e)		545		509
Special Assessment, 3.50%, 05/01/2040		925		778
Lakewood Ranch Stewardship District, Zario Project, Special Assessment, 2.63%, 05/01/2025		285		280
Lee County Industrial Development Authority, Shell Point/Waterside Health,
Rev., 5.00%, 11/15/2044		3,000		3,008
Rev., 5.00%, 11/15/2049		2,550		2,514
Lee Memorial Health System, Series A1, Rev., 4.00%, 04/01/2037		3,000		3,005
Miami Beach Health Facilities Authority, Mount Sinai Medical Center,
Rev., 5.00%, 11/15/2039		2,000		2,008
Rev., 5.00%, 11/15/2044		5,000		5,020
Miami Beach Redevelopment Agency, Tax, Increment Revenue, Tax Allocation, 5.00%, 02/01/2028		1,000		1,003
Miami-Dade County Housing Finance Authority, Cutler Vista, Rev., 5.00%, 03/01/2027 (z)		2,445		2,479
Midtown Miami Community Development District, Series A, Special Assessment, 5.00%, 05/01/2037		350		350
North Loop Community Development District, Special Assessment, 6.38%, 05/01/2043		1,000		1,072
North Powerline Road Community Development District, Special Assessment, 3.63%, 05/01/2040		1,345		1,146
Old Hickory Community Development District, Special Assessment, 2.50%, 06/15/2025		110		108
Orange County Health Facilities Authority, Orlando Health Obligated Group, Rev., 4.00%, 10/01/2052		5,000		4,760
Orange County Health Facilities Authority, Presbyterian Retirement Communities, Rev., 4.00%, 08/01/2036		295		288
Orange County Housing Finance Authority, Stratford Point Apartments, Rev., 0.55%, 01/01/2025 (z)		885		874
Orlando Utilities Commission,
Series 2018A, Rev., 5.00%, 10/01/2035		2,480		2,632
Series A, Rev., 5.00%, 10/01/2027		500		536
Series A, Rev., 5.00%, 10/01/2028		1,125		1,233
Palm Beach County Health Facilities Authority, BRRH Corporation Obligated Group, Rev., 5.00%, 12/01/2024 (p)		1,910		1,925
Palm Beach County Health Facilities Authority, Retirement Life Communities, Rev., 5.00%, 11/15/2032		2,270		2,350
Parkview at Long Lake Ranch Community Development District, Special Assessment, 4.00%, 05/01/2051		800		660
Pasco County School Board, Series A, COP, BAM, 5.00%, 08/01/2036		1,720		1,855

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Pine Island Community Development District, Special Assessment, 5.75%, 05/01/2035		3,900		3,901
Pinellas County Housing Finance Authority, Jordan Park Apartments, Rev., HUD, 0.65%, 01/01/2025 (z)		1,135		1,121
Reunion East Community Development District,
Special Assessment, 2.40%, 05/01/2026		75		72
Special Assessment, 2.85%, 05/01/2031		25		23
Saddle Creek Preserve of Polk County Community Development District, Special Assessment, 4.00%, 06/15/2040		500		475
Sarasota County Health Facilities Authority, Sunnyside Village Project, Rev., 5.00%, 05/15/2048		425		400
Sarasota County Public Hospital District, Sarasota Memorial Hospital Project,
Rev., 4.00%, 07/01/2052		6,000		5,682
Rev., 5.00%, 07/01/2052		1,175		1,232
Sarasota County School Board, Series A, COP, 5.00%, 07/01/2033		1,000		1,185
Sarasota National Community Development District, Special Assessment, 4.00%, 05/01/2039		615		610
Sawyers Landing Community Development District, Special Assessment, 3.75%, 05/01/2031		400		370
School District of Broward County, Series A, COP, 5.00%, 07/01/2027		1,500		1,592
Somerset Community Development District, Special Assessment, 4.00%, 05/01/2032		845		815
South Broward Hospital District, Series A, Rev., 4.00%, 05/01/2044		4,000		3,825
South Kendall Community Development District, Special Assessment, 4.25%, 11/01/2037		1,575		1,518
St. John’s County School Board,
Series A, COP, AGM, 5.25%, 07/01/2046		1,500		1,659
Series A, COP, AGM, 5.25%, 07/01/2047		3,000		3,277
State Board of Administration Finance Corp., Taxable, Series A, Rev., 1.71%, 07/01/2027		4,000		3,626
State of Florida Department of Transportation Turnpike System Revenue,
Series B, Rev., 5.00%, 07/01/2033		1,000		1,151
Series C, Rev., 3.00%, 07/01/2046		1,650		1,339
State of Florida Department of Transportation Turnpike System Revenue, Department Of Transportation, Rev., 4.00%, 07/01/2041		1,000		1,014
State of Florida Department of Transportation Turnpike System Revenue, Turnpike Revenue, Series B, Rev., 3.00%, 07/01/2033		2,390		2,305
State of Florida Department of Transportation Turnpike System, Revenue Refunding, Series A, Rev., 5.00%, 07/01/2026		1,000		1,042
State of Florida, Capital Outlay, Series C, GO, 5.00%, 06/01/2027		1,060		1,101
State of Florida, Department of Transportation, Turnpike System Revenue, Series A, Rev., 5.00%, 07/01/2029		500		556
Stillwater Community Development District, Project 2021, Special Assessment, 3.00%, 06/15/2031 (e)		225		205
Stonegate Preserve Community Development District, 2023 Project Area, Special Assessment, 5.88%, 12/15/2043		1,000		1,046
Stoneybrook South Community Development District, Fox South Assessment Area,
Special Assessment, 2.50%, 12/15/2025 (e)		280		273
Special Assessment, 3.00%, 12/15/2030 (e)		475		457
Special Assessment, 3.50%, 12/15/2040 (e)		1,030		943
Storey Park Community Development District, Assessment Area Four Project,
Special Assessment, 2.38%, 06/15/2026 (e)		30		29
Special Assessment, 2.88%, 06/15/2031 (e)		60		57
Summit View Community Development District, Assessment Area Two, Special Assessment, 5.63%, 05/01/2044		1,025		1,027

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		1,045
Towne Park Community Development District, Assessment Area 3D Project, Special Assessment, 2.63%, 05/01/2025 (e)		255		251
Tradition Community Development District No. 9, Special Assessment, 3.00%, 05/01/2041		130		100
Turtle Run Community Development District, Special Assessment, Series 2, Special Assessment, 5.00%, 05/01/2047		1,500		1,501
Village Community Development District No. 13,
Special Assessment, 1.88%, 05/01/2025 (e)		485		476
Special Assessment, 2.63%, 05/01/2030 (e)		1,455		1,372
Villamar Community Development District, Special Assessment, 3.75%, 05/01/2040		655		601
Volusia County Educational Facility Authority, Educational Facilities Embry Riddle, Rev., 5.00%, 10/15/2029		1,000		1,059
West Hillcrest Community Development District, Series 2023, Special Assessment, 5.50%, 06/15/2053		1,250		1,282
West Villages Improvement District, Special Assessment, Unit Of Development #8, Special Assessment, 5.38%, 05/01/2042		1,875		1,930
Wildwood Utility Dependent District, Senior South Sumter Utilities Project,
Rev., BAM, 5.00%, 10/01/2031		1,300		1,484
Rev., BAM, 5.00%, 10/01/2033		1,150		1,313
Rev., BAM, 5.00%, 10/01/2039		1,490		1,626
Rev., BAM, 5.00%, 10/01/2040		1,610		1,750
Wildwood Utility Dependent District, Senior South Sumter Utility Project, Rev., BAM, 5.00%, 10/01/2052		1,640		1,715
Wildwood Utility Dependent District, Subordinate South Sumter Utilities Project, Rev., BAM, 5.00%, 10/01/2041		650		704
				417,687
Georgia — 3.6%
Bartow County Development Authority, Georgia Power Co. Pollution Bowen Project, Rev., 1.80%, 09/01/2029 (z)		4,425		3,783
Board of Water Light & Sinking Fund Commissioners of The City of Dalton, Combined Utilities Revenue Bonds,
Rev., 4.00%, 03/01/2035		1,100		1,130
Rev., 4.00%, 03/01/2036		1,000		1,023
Rev., 4.00%, 03/01/2037		1,135		1,153
Rev., 4.00%, 03/01/2038		1,000		1,005
Brookhaven Development Authority, Children’s Healthcare of Atlanta,
Rev., 5.00%, 07/01/2036		2,425		2,649
Rev., 5.00%, 07/01/2037		2,400		2,609
Series A, Rev., 4.00%, 07/01/2044		3,000		2,956
Brookhaven Urban Redevelopment Agency, Series A, Rev., 4.00%, 07/01/2045		3,260		3,272
Carroll County, School District, GO, 5.00%, 04/01/2024		1,000		1,000
City of Atlanta Airport Passenger Facility Charge, Airport Revenue Subordinated, Rev., AMT, 4.00%, 07/01/2038		2,825		2,806
City of Atlanta Department of Aviation,
Series B, Rev., AMT, 5.00%, 07/01/2028		3,300		3,530
Series C, Rev., AMT, 5.00%, 07/01/2026		960		991
Series C, Rev., AMT, 5.00%, 07/01/2034		540		598
Series C, Rev., AMT, 5.00%, 07/01/2048		1,000		1,065
Series G, Rev., AMT, 5.00%, 07/01/2025		750		762

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 G, Rev., AMT, 5.00%, 07/01/2027		230		242
Series G, Rev., AMT, 5.00%, 07/01/2028		2,500		2,674
City of Atlanta Water & Wastewater Revenue, Series B, Rev., 4.00%, 11/01/2037		1,000		1,016
City of Atlanta, Airport Passenger Facility, Subordinated Lien, Series C, Rev., 5.00%, 07/01/2040		2,000		2,159
City of Atlanta, Department of Aviation, Airport Revenue, Series B, Rev., AMT, 5.00%, 07/01/2031		1,155		1,244
Cobb County Kennestone Hospital Authority, Revenue Anticipation Certificates, Rev., 5.00%, 04/01/2036		500		522
Cobb County Kennestone Hospital Authority, Wellstar Health System, Inc., Rev., 3.00%, 04/01/2037		700		610
Columbia County Hospital Authority, Anticipation Certificate Wellstar, Rev., 5.13%, 04/01/2053		3,625		3,844
DeKalb County Housing Authority, Kensington Station Project, Series A, Rev., 4.00%, 12/01/2033		10,000		10,027
Development Authority for Fulton County, Jonesboro Road Senior Village, Rev., 3.00%, 10/01/2025 (z)		2,020		2,008
Development Authority of Burke County, Georgia Power Co. Plant Vogtle Project, Rev., 3.38%, 11/01/2053 (z)		1,000		994
Development Authority of Burke County (The), Oglethorpe Power Corp. Scherer Project, Series A, Rev., 1.50%, 01/01/2040 (z)		250		241
Development Authority of Cobb County, The Northwest Classical Academy Project, Rev., 5.70%, 06/15/2038 (e)		605		613
Development Authority of Monroe County (The), Oglethorpe Power Corporation Scherer Project, Series A, Rev., 1.50%, 01/01/2039 (z)		125		121
Development Authority of Monroe County, Georgia Power Company Plant Scherer, Rev., 3.88%, 06/01/2042 (z)		1,250		1,258
Development Authority of Monroe County (The), Georgia Power Co. Plant Scherer, Rev., 1.00%, 07/01/2049 (z)		1,785		1,621
Development Authority of Rockdale County, Arbours at Conyers Project, Rev., 3.63%, 02/01/2026 (z)		1,085		1,077
George L Smith II Congress Center Authority, Convention Center Hotel, Series 2, Rev., 5.00%, 01/01/2054 (e)		1,000		903
George L Smith II Congress Center Authority, Convention Center Hotel First,
Rev., 4.00%, 01/01/2036		2,750		2,778
Rev., 4.00%, 01/01/2054		1,600		1,429
Georgia Housing & Finance Authority, Series A, Rev., 2.75%, 12/01/2035		500		439
Georgia Ports Authority, Rev., 5.25%, 07/01/2043		2,705		3,059
Georgia State Road & Tollway Authority,
Rev., 5.00%, 06/01/2027		5,250		5,588
Rev., 5.00%, 06/01/2028		5,500		5,984
Rev., 5.00%, 06/01/2030		6,205		7,036
Main Street Natural Gas, Inc.,
Series A, Rev., 4.00%, 07/01/2052 (z)		14,500		14,615
Series A, Rev., 5.00%, 05/15/2033		4,950		5,218
Series A, Rev., 5.00%, 05/15/2043		8,000		8,175
Series A, Rev., 5.00%, 06/01/2053 (z)		15,000		15,801
Series A, Rev., 5.00%, 05/01/2054 (z)		15,925		17,060
Series A, Rev., 5.50%, 09/15/2028		1,000		1,055
Series B, Rev., 5.00%, 06/01/2028		2,500		2,572

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 B, Rev., 5.00%, 06/01/2029		1,500		1,567
Series B, Rev., 5.00%, 12/01/2052 (z)		5,000		5,237
Series B, Rev., 5.00%, 07/01/2053 (z)		8,730		9,244
Series B, Rev., 5.00%, 12/01/2054 (z)		7,185		7,713
Series C, Rev., 4.00%, 03/01/2050 (z)		6,350		6,374
Series C, Rev., 4.00%, 05/01/2052 (z)		15,310		15,258
Series C, Rev., 5.00%, 09/01/2053 (z)		11,285		11,987
Series D, Rev., 5.00%, 05/01/2054 (z)		9,500		9,984
Series E1, Rev., 5.00%, 12/01/2053 (z)		3,000		3,205
Main Street Natural Gas, Inc., Gas Supply, Series C, Rev., 4.00%, 08/01/2052 (e) (z)		21,600		21,017
Metropolitan Atlanta Rapid Transit Authority, Series B, Rev., 5.00%, 07/01/2045		10,000		10,258
Milledgeville & Baldwin County Development Authority, Georgia College & State University Projects,
Rev., 4.00%, 06/15/2037		500		511
Rev., 5.00%, 06/15/2024		470		471
Rev., 5.00%, 06/15/2025		360		366
Municipal Electric Authority of Georgia, Combined Cycle Project,
Series A, Rev., 5.00%, 11/01/2027		250		265
Series A, Rev., 5.00%, 11/01/2029		250		274
Municipal Electric Authority of Georgia, General Resolution Project, Series A, Rev., 4.00%, 01/01/2037		1,125		1,151
Municipal Electric Authority of Georgia, Plant Vogtle Unis 3&4 Project, Rev., 5.00%, 01/01/2059		3,000		3,025
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 and 4 Project,
Series A, Rev., AGM, 5.00%, 07/01/2033		1,610		1,825
Series A, Rev., AGM, 5.00%, 07/01/2035		1,300		1,467
Series A, Rev., AGM, 5.00%, 07/01/2036		2,795		3,133
Municipal Electric Authority of Georgia, Plant Vogtle Units 3&4 Project,
Rev., AGM, 4.00%, 01/01/2036		330		340
Rev., AGM, 4.00%, 01/01/2041		1,000		999
Rev., AGM, 5.00%, 01/01/2025		200		202
Rev., AGM, 5.00%, 01/01/2027		125		131
Rev., AGM, 5.00%, 07/01/2027		500		529
Rev., 5.00%, 01/01/2039		1,310		1,351
Rev., BAM, 5.00%, 01/01/2049		2,000		2,050
Rev., AGM, 5.00%, 07/01/2053		3,675		3,886
Rev., AGM, 5.00%, 07/01/2055		4,615		4,873
Municipal Electric Authority of Georgia, Power Revenue,
Series HH, Rev., 5.00%, 01/01/2033		1,000		1,060
Series HH, Rev., 5.00%, 01/01/2034		1,000		1,059
Municipal Electric Authority of Georgia, Project One Subordinated,
Rev., 5.00%, 01/01/2029		1,110		1,199
Rev., 5.00%, 01/01/2037		1,250		1,367
Series A, Rev., 5.00%, 01/01/2035		2,245		2,264
Municipal Electric Authority of Georgia, Project One, Subordinated, Series B, Rev., 4.00%, 01/01/2039		1,400		1,411
Municipal Electric Authority of Georgia, Subordinate General Resolution, Rev., 5.00%, 01/01/2033		1,010		1,138
Municipal Electric Authority of Georgia, Subordinate Project One,
Series A, Rev., 5.00%, 01/01/2030		705		775
Series A, Rev., 5.00%, 01/01/2031		1,715		1,914

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Paulding County Hospital Authority, Anticipation Certificates Wellstar Health,
Rev., 5.00%, 04/01/2036		325		365
Rev., 5.00%, 04/01/2038		500		552
Private Colleges & Universities Authority, Emory University,
Series B, Rev., 4.00%, 10/01/2038		13,500		13,558
Series B, Rev., 4.00%, 09/01/2039		1,420		1,465
Private Colleges & Universities Authority, Savannah College of Art And Design,
Rev., 4.00%, 04/01/2038		1,400		1,431
Rev., 5.00%, 04/01/2027		400		420
Savannah Economic Development Authority, International Paper Company Project, Rev., 1.90%, 08/01/2024		150		148
State of Georgia,
Series C, GO, 4.00%, 07/01/2027		1,000		1,038
Series E, GO, 5.00%, 12/01/2027		1,570		1,656
Series F, GO, 5.00%, 01/01/2025		2,000		2,024
State of Georgia, Bidding Group 1, Series A, GO, 5.00%, 07/01/2033		2,000		2,320
State of Georgia, Bidding Group 2, Series A, GO, 4.00%, 07/01/2035		750		807
State of Georgia, Tranche 2, Series A, GO, 5.00%, 07/01/2030		2,000		2,236
Villa Rica Downtown Development Authority, Arbours At Villa Rica Project, Rev., 1.25%, 08/01/2025 (z)		4,415		4,365
				325,580
Guam — 0.0% (g)
Antonio B. Won Pat International Airport Authority, Rev., AMT, 5.25%, 10/01/2030		750		776
Territory of Guam, Series F, Rev., 4.00%, 01/01/2042		1,000		951
				1,727
Hawaii — 0.3%
City & County Honolulu Wastewater System Revenue, Green Bonds Senior Lien, Rev., 5.00%, 07/01/2040		540		611
City & County Honolulu Wastewater System Revenue, Senior First Bond Resolution, Series A, Rev., 5.00%, 07/01/2035		2,110		2,263
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		1,588
Series C, GO, 5.00%, 10/01/2029		1,000		1,119
City & County of Honolulu, Rail Transit Project,
GO, 3.00%, 07/01/2032		430		426
GO, 3.00%, 07/01/2035		1,000		961
State of Hawaii,
Series FG, GO, 4.00%, 10/01/2032		2,000		2,037
Series FG, GO, 4.00%, 10/01/2033		3,000		3,056
State of Hawaii Airports System Revenue,
Series A, Rev., AMT, 5.00%, 07/01/2032		1,500		1,592
Series A, Rev., AMT, 5.00%, 07/01/2033		1,630		1,729
Series A, Rev., AMT, 5.00%, 07/01/2034		2,000		2,177
Series A, Rev., AMT, 5.00%, 07/01/2035		1,000		1,058
Series B, Rev., 5.00%, 07/01/2026		1,250		1,301
State of Hawaii Department of Budget & Finance, Rev., 3.20%, 07/01/2039		3,000		1,977

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Hawaii — continued
State of Hawaii Harbor System Revenue,
Series A, Rev., AMT, 4.00%, 07/01/2031		250		257
Series A, Rev., AMT, 4.00%, 07/01/2032		500		513
Series A, Rev., AMT, 4.00%, 07/01/2033		750		770
Series A, Rev., AMT, 4.00%, 07/01/2034		3,555		3,644
Series A, Rev., AMT, 5.00%, 07/01/2027		250		262
Series A, Rev., AMT, 5.00%, 07/01/2028		500		530
Series A, Rev., AMT, 5.00%, 07/01/2029		250		269
Series C, Rev., 4.00%, 07/01/2032		200		212
State of Hawaii State Highway Fund, Rev., 5.00%, 01/01/2029		1,000		1,099
State of Hawaii, Airports System Revenue, Series D, Rev., 5.00%, 07/01/2030		1,000		1,129
				30,627
Idaho — 0.2%
Idaho Health Facilities Authority, Trinity Health Credit Group,
Rev., 4.00%, 12/01/2043		4,460		4,342
Series A, Rev., 5.00%, 12/01/2047		1,715		1,749
Idaho Housing & Finance Association,
Series A, Rev., 5.00%, 08/15/2029		1,000		1,113
Series A, Rev., 5.00%, 08/15/2034		1,130		1,332
Series A, Rev., GNMA/FNMA/FHLMC, 6.00%, 07/01/2054		3,750		4,147
Idaho Housing & Finance Association, Garvee,
Series A, Rev., 4.00%, 07/15/2039		1,440		1,461
Series A, Rev., 5.00%, 07/15/2030		1,250		1,401
Idaho Housing & Finance Association, Transportation Expansion & Mitigation, Rev., 5.00%, 08/15/2037		165		188
Spring Valley Community Infrastructure District No. 1, Assessment Area Two, Special Assessment, 6.25%, 09/01/2053 (e)		1,120		1,132
				16,865
Illinois — 7.5%
Champaign County Community Unit School District No. 4 Champaign, GO, 5.00%, 01/01/2029		1,765		1,815
Chicago Board of Education,
Series A, GO, AGM, 5.00%, 12/01/2026		10		10
Series A, GO, 5.00%, 12/01/2033		2,000		2,074
Series A, GO, 5.00%, 12/01/2041		1,000		1,026
Series A, GO, 5.00%, 12/01/2042		10,000		9,999
Series A, GO, 5.25%, 12/01/2036		5,500		6,035
Series D, GO, 5.00%, 12/01/2046		7,500		7,459
Chicago Board of Education Dedicated Capital Improvement Tax,
Rev., 5.25%, 04/01/2039		3,125		3,445
Rev., 5.75%, 04/01/2048		4,000		4,457
Chicago Board of Education, Capital Appreciation School Reform,
Series A, GO, NATL, Zero Coupon, 12/01/2024		500		486
Series A, GO, NATL, Zero Coupon, 12/01/2025		255		239
Series A, GO, NATL, Zero Coupon, 12/01/2029		1,220		969
Series B1, GO, NATL, Zero Coupon, 12/01/2028		500		415
Series B1, GO, NATL, Zero Coupon, 12/01/2029		1,105		878

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Chicago Board of Education, Dedicated,
Series C, GO, 5.00%, 12/01/2034		2,000		2,051
Series G, GO, 5.00%, 12/01/2034		1,000		1,025
Series H, GO, 5.00%, 12/01/2036		2,000		2,037
Series H, GO, 5.00%, 12/01/2046		1,000		1,002
Chicago Midway International Airport, Series B, Rev., 5.00%, 01/01/2046		10,000		10,107
Chicago Midway International Airport, Second Lien, Series A, Rev., AMT, 5.00%, 01/01/2041		3,000		3,000
Chicago Midway International Airport, Senior,
Series C, Rev., AMT, 5.00%, 01/01/2028		2,825		2,972
Series C, Rev., AMT, 5.00%, 01/01/2034		6,000		6,753
Series C, Rev., AMT, 5.00%, 01/01/2040		2,610		2,817
Chicago Midway International Airport, Senior Lien,
Series A, Rev., BAM, AMT, 5.00%, 01/01/2033		2,400		2,705
Series A, Rev., AMT, 5.00%, 01/01/2034		1,660		1,869
Chicago O’Hare International Airport,
Rev., AMT, 5.00%, 01/01/2030		3,400		3,427
Rev., AMT, 5.00%, 01/01/2032		2,000		2,016
Chicago O’Hare International Airport, Passenger Facility Charge, Rev., AMT, 5.00%, 01/01/2032		3,500		3,502
Chicago O’Hare International Airport, Senior Lien,
Series A, Rev., 4.00%, 01/01/2035		3,500		3,630
Series A, Rev., 5.00%, 01/01/2035		6,000		6,655
Chicago O’Hare International Airport, Senior Lien Customer Facility, Rev., BAM, 5.25%, 01/01/2042		1,465		1,602
Chicago O’Hare International Airport, Trips Obligated Group, Rev., AMT, 5.00%, 07/01/2048		3,000		3,008
Chicago Transit Authority Capital Grant Receipts Revenue, Section 5357, Rev., 5.00%, 06/01/2028		1,000		1,064
Chicago Transit Authority Sales Tax Receipts Fund,
Rev., 5.00%, 12/01/2044		5,000		5,005
Rev., AGM, 5.00%, 12/01/2044		1,000		1,001
Rev., 5.25%, 12/01/2049		13,000		13,046
Series A, Rev., 5.00%, 12/01/2045		6,500		6,760
Series A, Rev., BAM, 5.00%, 12/01/2046		4,500		4,812
Chicago Transit Authority Sales Tax Receipts Fund, Second Lien,
Rev., 5.00%, 12/01/2051		4,750		4,795
Series A, Rev., 4.00%, 12/01/2049		4,000		3,775
Series A, Rev., 5.00%, 12/01/2052		5,000		5,186
Series A, Rev., 5.00%, 12/01/2055		2,000		2,057
City of Aurora Waterworks & Sewerage Revenue, Series B, Rev., 4.00%, 12/01/2034		1,565		1,566
City of Berwyn, Series A, GO, 5.00%, 12/01/2029		1,000		1,013
City of Chicago,
Series A, GO, 5.00%, 01/01/2027		5,500		5,729
Series A, GO, 5.00%, 01/01/2033		1,000		1,090
Series A, GO, 5.00%, 01/01/2034		4,500		4,898
Series A, GO, 5.50%, 01/01/2049		6,325		6,589
Series A, GO, 6.00%, 01/01/2038		8,775		9,189
Series B, GO, 4.00%, 01/01/2038 (e)		521		521
Series C, GO, Zero Coupon, 01/01/2027 (p)		500		454
Series C, GO, 5.00%, 01/01/2025		45		45
Series C, GO, 5.00%, 01/01/2028		1,450		1,478

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
City of Chicago Special Assessment Revenue, Lakeshore East Project,
Special Assessment, 2.69%, 12/01/2026 (e)		305		292
Special Assessment, 3.04%, 12/01/2028 (e)		270		253
City of Chicago Wastewater Transmission Revenue, Second Lien,
Series B, Rev., AGM, 5.00%, 01/01/2037		1,050		1,186
Series B, Rev., AGM, 5.00%, 01/01/2039		2,000		2,227
Series C, Rev., 5.00%, 01/01/2034		1,950		1,971
City of Chicago Waterworks Revenue, Second Lien,
Series 2017-2, Rev., AGM, 5.00%, 11/01/2038		3,500		3,661
Series B, Rev., AGM, 5.00%, 11/01/2038		1,000		1,113
Series B, Rev., AGM, 5.00%, 11/01/2039		1,000		1,112
City of Chicago Waterworks Revenue, Second Lien Project,
Rev., 4.00%, 11/01/2037		215		215
Rev., 5.00%, 11/01/2044		5,410		5,433
City of Chicago, Chicago Works,
Series A, GO, 5.25%, 01/01/2038		2,680		2,920
Series A, GO, 5.50%, 01/01/2039		1,180		1,302
Series A, GO, 5.50%, 01/01/2040		1,000		1,097
Series A, GO, 5.50%, 01/01/2041		1,000		1,071
Series A, GO, 5.50%, 01/01/2043		1,500		1,597
City of Chicago, Wastewater Transmission Revenue, Second Lien,
Rev., 5.00%, 01/01/2039		4,005		4,009
Series A, Rev., AGM, 5.25%, 01/01/2048		5,000		5,430
Series B, Rev., AGM-CR, 5.00%, 01/01/2027		1,000		1,048
Series B, Rev., AGM, 5.00%, 01/01/2029		300		328
Series B, Rev., AGM, 5.00%, 01/01/2038		1,940		2,175
City of Chicago, Waterworks Revenue, Second Lien,
Rev., 5.00%, 11/01/2034		7,000		7,061
Series A, Rev., AGM, 5.25%, 11/01/2048		1,500		1,641
Series B, Rev., AGM, 4.00%, 11/01/2040		4,320		4,367
Series B, Rev., AGM, 5.00%, 11/01/2028		300		326
Series B, Rev., AGM, 5.00%, 11/01/2031		400		458
Series B, Rev., AGM, 5.00%, 11/01/2033		2,350		2,689
City of Granite City, Waste Management, Inc., Rev., AMT, 1.25%, 05/01/2027		5,000		4,548
Cook County Community College District No. 508, City Colleges Chicago,
GO, 5.13%, 12/01/2038		1,000		1,000
GO, 5.25%, 12/01/2030		1,000		1,001
Cook County Community College District No. 508, City Colleges of Chicago,
GO, BAM, 5.00%, 12/01/2041		3,000		3,264
GO, BAM, 5.00%, 12/01/2042		2,000		2,167
Cook County Community Consolidated School District No. 34 Glenview, GO, 4.00%, 12/01/2029		2,000		2,133
Cook County High School District No. 214 Arlington Heights, GO, 4.00%, 12/01/2026		1,910		1,960
Cook County School District No. 87 Berkeley, GO, AGM, 3.00%, 12/01/2034		1,500		1,378
Cook County, Community School District No. 97, Oak Park, GO, 4.00%, 01/01/2034		2,000		2,068
County of Cook,
Series A, GO, 5.00%, 11/15/2025		960		983
Series A, GO, AGM, 5.00%, 11/15/2026		1,000		1,048
Series A, GO, 5.00%, 11/15/2026		3,900		4,069
Series A, GO, 5.00%, 11/15/2033		250		287

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
County of Cook Sales Tax Revenue,
Rev., 4.00%, 11/15/2037		3,500		3,556
Rev., 4.00%, 11/15/2038		1,545		1,556
Series A, Rev., 4.00%, 11/15/2039		2,000		1,954
Series A, Rev., 4.00%, 11/15/2040		5,250		5,176
Series A, Rev., 5.00%, 11/15/2025		690		708
Series A, Rev., 5.25%, 11/15/2045		2,500		2,736
County of Cook, Sales Tax Revenue, Series A, Rev., 5.00%, 11/15/2038		1,240		1,342
County of Will, GO, 4.00%, 11/15/2047		7,000		6,647
Illinois Finance Authority,
Series A, Rev., 4.00%, 07/15/2036		710		735
Series A, Rev., 4.00%, 07/15/2039		3,000		3,028
Series B2, Rev., 5.00%, 05/15/2050 (z)		4,800		4,929
Illinois Finance Authority, Acero Charter Schools, Inc., Rev., 4.00%, 10/01/2042 (e)		500		416
Illinois Finance Authority, Advocate Health Care Network Project, Rev., 4.00%, 11/01/2030		2,165		2,196
Illinois Finance Authority, Ann & Robert H. Lurie Child, Rev., 4.00%, 08/15/2037		500		504
Illinois Finance Authority, Ann & Robert H. Lurie Children’s Hospital of Chicago, Rev., 5.00%, 08/15/2035		1,610		1,688
Illinois Finance Authority, Carle Foundation, Series A, Rev., 5.00%, 02/15/2045		19,250		19,511
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		1,441
Illinois Finance Authority, Green Bond, Rev., 4.00%, 07/01/2038		4,160		4,278
Illinois Finance Authority, Green Bonds,
Rev., 4.00%, 01/01/2033		8,190		8,698
Rev., 4.00%, 07/01/2040		1,500		1,524
Illinois Finance Authority, Health Services Facility Lease Revenue, Provident Group UIC Surgery,
Rev., 4.00%, 10/01/2040		1,750		1,640
Rev., 5.00%, 10/01/2032		750		802
Illinois Finance Authority, Illinois State Clean Water Initiative, Green Bond, Rev., 5.00%, 01/01/2028		100		108
Illinois Finance Authority, Mercy Health Corp., Rev., 5.00%, 12/01/2040		1,080		1,102
Illinois Finance Authority, Northshore University Health System, Rev., 5.00%, 08/15/2035		750		831
Illinois Finance Authority, Northwestern Memorial HealthCare, Rev., 4.00%, 07/15/2047		4,000		3,864
Illinois Finance Authority, OSF Healthcare System,
Rev., 4.00%, 05/15/2050		1,000		907
Series A, Rev., 5.00%, 11/15/2045		10,900		11,012
Series B1, Rev., 5.00%, 05/15/2050 (z)		2,250		2,251
Illinois Finance Authority, Plymouth Place, Inc., Rev., 5.00%, 05/15/2041		400		351
Illinois Finance Authority, Presbyterian Homes, Series B, Rev., (SIFMA Municipal Swap Index + 0.70%), 4.34%, 05/01/2042 (aa)		180		177
Illinois Finance Authority, Rush University Medical Center, Series A, Rev., 4.00%, 11/15/2039		1,320		1,233
Illinois Finance Authority, Silver Cross Hospital & Medical, Rev., 5.00%, 08/15/2044		5,000		5,039
Illinois Finance Authority, Southern Illinois Healthcare, Rev., 5.00%, 03/01/2031		2,135		2,209
Illinois Finance Authority, State Clean Water Initiative, Rev., 4.00%, 07/01/2026		2,100		2,133
Illinois Finance Authority, Swedish Covenant Hospital, Rev., 5.00%, 08/15/2032 (p)		4,000		4,152
Illinois Finance Authority, The Carle Foundation,
Series A, Rev., 3.00%, 08/15/2048		2,850		2,160
Series A, Rev., 4.00%, 08/15/2038		1,615		1,632
Series A, Rev., 5.00%, 08/15/2031		2,530		2,874
Series B, Rev., 5.00%, 08/15/2053 (z)		285		314

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, UChicago Medicine,
Rev., 5.00%, 08/15/2052 (z)		1,710		1,801
Series A, Rev., 5.00%, 08/15/2047		17,000		17,979
Illinois Finance Authority, University of Chicago,
Series A, Rev., 5.00%, 10/01/2028		3,000		3,271
Series A, Rev., 5.00%, 10/01/2030		3,000		3,013
Series A, Rev., 5.00%, 10/01/2034		1,750		2,101
Series A, Rev., 5.00%, 10/01/2035		1,400		1,694
Series A, Rev., 5.00%, 10/01/2038		11,600		11,832
Series A, Rev., 5.25%, 05/15/2048		2,000		2,205
Illinois Finance Authority, Unrefunded, Series A, Rev., 5.00%, 10/01/2046		1,650		1,657
Illinois Housing Development Authority,
Series C, Rev., FHA, 0.80%, 07/01/2026		270		249
Series D, Rev., GNMA/FNMA/FHLMC, 3.75%, 04/01/2050		1,215		1,198
Illinois Housing Development Authority, 6900 Crandon, Rev., FHA HUD, 5.00%, 02/01/2027 (z)		1,700		1,729
Illinois Housing Development Authority, Social Bonds,
Series A, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051		3,475		3,359
Series B, Rev., GNMA FNMA FHLMC COLL, 3.00%, 04/01/2051		370		357
Series H, Rev., GNMA FNMA FHLMC COLL, 5.75%, 10/01/2053		695		740
Illinois Housing Development Authority, South Shore HHDC, Rev., HUD, 5.00%, 02/01/2027 (z)		1,520		1,546
Illinois Housing Development Authority, Sustainable Bond, Series A, Rev., GNMA/FNMA/FHLMC, 6.00%, 10/01/2054		810		882
Illinois Housing Development Authority, Sustainable Bonds, Series N, Rev., GNMA/FNMA/FHLMC, 6.25%, 04/01/2054		9,955		11,103
Illinois Sports Facilities Authority (The), State Tax Supported,
Rev., 5.00%, 06/15/2030		500		540
Rev., AGM, 5.25%, 06/15/2031		225		225
Rev., AGM, 5.25%, 06/15/2032		5,000		5,005
Illinois State Toll Highway Authority,
Series A, Rev., 4.00%, 01/01/2044		1,000		984
Series A, Rev., 4.00%, 01/01/2046		14,950		14,495
Series A, Rev., 5.00%, 01/01/2028		185		193
Series A, Rev., 5.00%, 01/01/2041		3,300		3,640
Series A, Rev., 5.00%, 01/01/2043		4,000		4,361
Series A, Rev., 5.00%, 01/01/2044		6,580		6,999
Series B, Rev., 5.00%, 01/01/2029		100		103
Series B, Rev., 5.00%, 01/01/2037		5,000		5,000
Series B, Rev., 5.00%, 01/01/2040		5,500		5,618
Illinois State Toll Highway Authority, Senior,
Series A, Rev., 5.00%, 01/01/2029		800		878
Series A, Rev., 5.00%, 12/01/2031		5,115		5,264
Series A, Rev., 5.00%, 01/01/2036		1,300		1,539
Series A, Rev., 5.00%, 01/01/2037		800		943
Series A, Rev., 5.25%, 01/01/2043		2,315		2,625
Series B, Rev., 5.00%, 01/01/2028		4,000		4,303
Series B, Rev., 5.00%, 01/01/2041		2,190		2,239
Illinois State Toll Highway Authority, Toll Highway Revenue,
Series A, Rev., 5.00%, 01/01/2036		1,000		1,132
Series A, Rev., 5.00%, 01/01/2037		1,555		1,746

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Macon County, School District No. 61 Decatur,
GO, AGM, 4.00%, 01/01/2040		1,420		1,414
GO, AGM, 4.00%, 01/01/2045		3,000		2,880
Metropolitan Pier & Exposition Authority, Rev., NATL, Zero Coupon, 12/15/2034		500		340
Metropolitan Pier & Exposition Authority Revenue, McCormick Place Expansion, Rev., 5.00%, 06/15/2042		5,645		5,932
Metropolitan Pier & Exposition Authority, Capital Appreciation McCormick,
Rev., NATL, Zero Coupon, 12/15/2035		500		326
Rev., NATL, Zero Coupon, 06/15/2036		6,000		3,829
Rev., NATL, Zero Coupon, 06/15/2037		500		302
Rev., AGM, Zero Coupon, 06/15/2044		500		206
Series B, Rev., AGM, Zero Coupon, 06/15/2027		4,310		3,860
Metropolitan Pier & Exposition Authority, Capital Appreciation McCormick Project, Rev., NATL, Zero Coupon, 06/15/2028		4,250		3,672
Metropolitan Pier & Exposition Authority, McCormick Expansion Project, Series B, Rev., 5.00%, 12/15/2027		125		128
Metropolitan Pier & Exposition Authority, McCormick Place,
Rev., Zero Coupon, 06/15/2037		1,175		681
Rev., Zero Coupon, 06/15/2041		1,750		800
Metropolitan Pier & Exposition Authority, McCormick Place Expansion,
Rev., Zero Coupon, 12/15/2035		3,200		2,015
Rev., 3.00%, 06/15/2025		150		148
Rev., 4.00%, 12/15/2042		5,990		5,848
Rev., 4.00%, 06/15/2050		1,000		917
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Rev., 5.00%, 06/15/2057		1,760		1,785
Metropolitan Water Reclamation District of Greater Chicago, Green Bond, Series C, GO, 5.00%, 12/01/2045		3,000		3,033
Metropolitan Water Reclamation District of Greater Chicago, Green Bonds, Series E, GO, 5.00%, 12/01/2036		2,065		2,134
Northern Illinois University, Board of Trustees Auxiliary Facilities, Rev., BAM, 4.00%, 10/01/2033		1,000		1,021
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		2,052
Sales Tax Securitization Corp., Second Lien,
Series A, Rev., 4.00%, 01/01/2039		3,000		3,003
Series A, Rev., 5.00%, 01/01/2035		10,935		11,571
Series A, Rev., BAM, 5.00%, 01/01/2037		750		809
Series C, Rev., 5.00%, 01/01/2029		850		924
Series C, Rev., 5.00%, 01/01/2032		1,400		1,587
Southwestern Illinois Development Authority, Southwestern Il Flood Prevention, Rev., 4.00%, 10/15/2035		1,215		1,244
State of Illinois,
GO, 4.00%, 06/01/2032		1,980		1,995
GO, 4.00%, 06/01/2034		4,485		4,497
GO, 4.00%, 06/01/2035		1,000		1,002
GO, 4.00%, 06/01/2036		485		486
GO, 5.00%, 01/01/2028		6,810		7,002
GO, 5.00%, 02/01/2028		1,050		1,100
GO, 5.00%, 01/01/2029		2,085		2,148

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
GO, 5.00%, 02/01/2029		1,000		1,048
GO, 5.25%, 02/01/2030		2,000		2,002
GO, 5.50%, 05/01/2030		2,000		2,188
Series A, GO, 4.00%, 03/01/2041		250		244
Series A, GO, 5.00%, 11/01/2026		1,360		1,418
Series A, GO, 5.00%, 03/01/2027		2,355		2,470
Series A, GO, 5.00%, 03/01/2028		1,500		1,603
Series A, GO, 5.00%, 03/01/2030		1,000		1,105
Series A, GO, 5.00%, 03/01/2046		1,000		1,049
Series A, GO, 5.50%, 03/01/2042		1,500		1,670
Series A, GO, 5.50%, 03/01/2047		2,690		2,937
Series A, GO, 6.00%, 05/01/2025		500		513
Series B, GO, 4.00%, 10/01/2033		2,000		2,055
Series B, GO, 5.00%, 10/01/2029		1,000		1,097
Series B, GO, 5.00%, 10/01/2031		5,000		5,562
Series B, GO, 5.50%, 05/01/2039		250		275
Series B, GO, 5.50%, 05/01/2047		2,500		2,732
Series C, GO, 4.00%, 10/01/2037		2,000		2,013
Series C, GO, 5.00%, 11/01/2029		4,200		4,453
Series C, GO, 5.25%, 10/01/2047		3,000		3,225
Series D, GO, 5.00%, 11/01/2024		1,000		1,008
Series D, GO, 5.00%, 11/01/2026		1,980		2,065
Series D, GO, 5.00%, 11/01/2027		6,080		6,462
Series D, GO, 5.00%, 11/01/2028		2,500		2,650
State of Illinois Sales Tax Revenue, Series A, Rev., BAM, 4.00%, 06/15/2029		2,250		2,381
State of Illinois Sales Tax Revenue, Junior Obligation,
Series A, Rev., BAM, 4.00%, 06/15/2026		505		515
Series A, Rev., BAM, 4.00%, 06/15/2031		1,500		1,594
State of Illinois, Build America Bonds,
GO, 6.90%, 03/01/2035		1,000		1,096
GO, 7.35%, 07/01/2035		3,429		3,711
State of Illinois, Rebuild Illinois Program, Series B, GO, 4.00%, 11/01/2039		1,500		1,467
University of Illinois, Auxiliary Facilities System, Series A, Rev., 5.00%, 04/01/2025		140		140
University of Illinois, Auxiliary Facility, Series A, Rev., AGM-CR, 4.00%, 04/01/2036		4,730		4,741
Village of Rosemont, Series A, GO, BAM, 5.00%, 12/01/2042		10,000		10,862
Will County Community Unit School District No. 209-U Wilmington, GO, AGM, 5.50%, 02/01/2038		1,195		1,319
				672,926
Indiana — 1.5%
City of Fishers Sewage Works Revenue, Rev., BAM, 4.00%, 07/01/2047		1,000		961
City of Rockport, Industry Pollution Control, Michigan Power Company Project, Rev., 2.75%, 06/01/2025		100		98
City of Whiting, BP Products North America,
Rev., AMT, 4.40%, 11/01/2045 (z)		6,000		6,106
Rev., AMT, 4.40%, 03/01/2046 (z)		4,500		4,568
City of Whiting, BP Products North America, Inc. Project, Rev., AMT, 5.00%, 11/01/2047 (z)		5,000		5,012
Evansville Waterworks District, Series A, Rev., BAM, 5.00%, 07/01/2042		925		1,004
Indiana Finance Authority, Citizens Water Westfield Project, Series A, Rev., 4.00%, 10/01/2048		1,500		1,460
Indiana Finance Authority, Community Foundation of Northwest Industry, Rev., 5.00%, 09/01/2036		1,000		1,035

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Indiana Finance Authority, DePauw University Project, Series A, Rev., 5.00%, 07/01/2047		8,000		8,135
Indiana Finance Authority, Duke Energy Indian, Rev., AMT, 4.50%, 05/01/2035 (z)		3,305		3,331
Indiana Finance Authority, First Lien, Series A, Rev., 5.00%, 10/01/2025		1,625		1,637
Indiana Finance Authority, First Lien CWA Authority Project,
Rev., 5.00%, 10/01/2033 (w)		1,250		1,456
Rev., 5.00%, 10/01/2034 (w)		955		1,120
Rev., 5.00%, 10/01/2035 (w)		1,250		1,446
Rev., 5.00%, 10/01/2040 (w)		1,250		1,389
Rev., 5.00%, 10/01/2041 (w)		500		553
Indiana Finance Authority, Green Bonds CWA Authority Project, Rev., 4.00%, 10/01/2037		1,440		1,474
Indiana Finance Authority, IN University Health Obligation Group, Rev., 4.00%, 12/01/2040		1,000		991
Indiana Finance Authority, Indianapolis Power,
Series A, Rev., 0.75%, 12/01/2038 (z)		4,875		4,493
Series B, Rev., AMT, 0.95%, 12/01/2038 (z)		7,025		6,515
Indiana Finance Authority, Marion General Hospital, Series A, Rev., 4.00%, 07/01/2040		5,060		4,847
Indiana Finance Authority, Ohio Valley Electric Corp., Rev., 3.00%, 11/01/2030		1,230		1,142
Indiana Finance Authority, Ohio Valley Electric Corp. Project,
Series A, Rev., 4.25%, 11/01/2030		2,000		1,998
Series B, Rev., 2.50%, 11/01/2030		1,000		900
Indiana Finance Authority, Second Lien, CWA Authority Project, Rev., 5.00%, 10/01/2035		3,000		3,423
Indiana Finance Authority, United States Steel Corp., Series A, Rev., 4.13%, 12/01/2026		145		145
Indiana Finance Authority, University of Evansville, Rev., 5.25%, 09/01/2037		1,150		1,185
Indiana Finance Authority, Valley Electric Corporation Project, Series B, Rev., 3.00%, 11/01/2030		1,000		929
Indiana Finance Authority, Valparaiso University Project, Rev., 4.00%, 10/01/2034		1,315		1,283
Indiana Housing & Community Development Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		675		653
Indiana Housing & Community Development Authority, Social Bonds,
Series A1, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 07/01/2053		250		265
Series A, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2052		925		888
Series C1, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		45		43
Indiana Housing & Community Development Authority, Sustainable Bond, Series A1, Rev., GNMA/FNMA/FHLMC, 4.50%, 07/01/2044		4,000		4,003
Indiana Municipal Power Agency, Series A, Rev., 5.00%, 01/01/2029		400		436
Indianapolis Local Public Improvement Bond Bank,
Series A, Rev., AGM, 4.00%, 06/01/2036		5,000		5,224
Series A, Rev., AGM, 4.00%, 06/01/2041		9,000		9,032
Series A, Rev., 5.00%, 06/01/2024		15		15
Series A, Rev., 5.00%, 06/01/2025		500		509
Indianapolis Local Public Improvement Bond Bank, Airport Authority, Series A1, Rev., AMT, 5.00%, 01/01/2028		200		205
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport, Rev., AMT, 5.00%, 01/01/2029		2,855		3,060
Indianapolis Local Public Improvement Bond Bank, Indianapolis Airport Authority,
Rev., AMT, 5.00%, 01/01/2026		1,500		1,529
Rev., AMT, 5.00%, 01/01/2029		4,245		4,550
Rev., AMT, 5.00%, 01/01/2031		3,500		3,857
Series I, Rev., AMT, 5.00%, 01/01/2032		4,885		4,924
Series I, Rev., AMT, 5.00%, 01/01/2033		5,000		5,040
Indianapolis Local Public Improvement Bond Bank, Metropolitan Thoroughfare District, Series D, Rev., 4.00%, 01/01/2041		10,000		10,071

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, Senior, Convention Center Hotel,
Rev., 5.50%, 03/01/2038		2,150		2,355
Rev., 6.00%, 03/01/2053		2,050		2,218
Northern Indiana Commuter Transportation District, Rev., 5.25%, 01/01/2049		1,500		1,662
Northwestern School Building Corp.,
Rev., 6.00%, 07/15/2040		700		800
Rev., 6.00%, 07/15/2041		900		1,027
Purdue University, Series A, Rev., 5.00%, 07/01/2027		1,500		1,601
				132,603
Iowa — 0.5%
Iowa Finance Authority, Series D, Rev., GNMA/FNMA/FHLMC, 3.50%, 01/01/2049		270		264
Iowa Finance Authority, Ahepa 192, IV Apartments Project, Rev., HUD, 5.00%, 11/01/2026 (z)		3,040		3,077
Iowa Finance Authority, Alcoa, Inc. Project, Rev., 4.75%, 08/01/2042		5,000		4,964
Iowa Finance Authority, Iowa Fertilizer Company Project,
Rev., 4.00%, 12/01/2050 (z)		5,905		6,155
Rev., 5.00%, 12/01/2050		5,255		5,552
Iowa Finance Authority, Social Bond, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,900		1,825
Iowa Finance Authority, Social Bonds, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2047		1,665		1,607
Iowa Finance Authority, Sustainable Bond Mortgage Backed, Rev., GNMA/FNMA/FHLMC, 4.50%, 07/01/2044		2,000		2,002
Iowa Student Loan Liquidity Corp., Series B, Rev., AMT, 5.00%, 12/01/2030		1,000		1,068
Iowa Tobacco Settlement Authority, Subordinate,
Series B1, Rev., 4.00%, 06/01/2049		6,670		6,731
Series B, Rev., Zero Coupon, 06/01/2065		15,345		2,134
PEFA, Inc., Rev., 5.00%, 09/01/2049 (z)		2,745		2,810
Sioux City Community School District, Rev., BAM, 3.00%, 10/01/2025		3,625		3,585
Southeast Polk Community School District, Series A, GO, 5.00%, 05/01/2028		5,185		5,609
				47,383
Kansas — 0.3%
Butler County Unified School District No. 385 Andover, Refunding and School Building, GO, 5.00%, 09/01/2032 (p)		1,000		1,071
City of Manhattan, Meadowlark Hills, Series A, Rev., 4.00%, 06/01/2036		1,000		926
Johnson County Unified School District No. 512 Shawnee Mission, Series A, GO, 4.00%, 10/01/2043		2,000		1,985
Kansas Development Finance Authority, Unrefunded, Rev., 5.00%, 11/15/2054 (z)		1,500		1,609
Riley County Unified School District No. 383 Manhattan-Ogden, Series A, GO, 5.00%, 09/01/2034 (p)		1,000		1,071
University of Kansas Hospital Authority, Improvement Ku Health System, Rev., 5.00%, 09/01/2045		3,800		3,839
University of Kansas Hospital Authority, University Kansas Health System, Rev., 5.00%, 03/01/2047 (p)		3,865		4,050
University of Kansas Hospital Authority, Unrefunded University Kansas Health System, Rev., 5.00%, 03/01/2047		7,350		7,490
Wyandotte County Unified School District No. 203 Piper,
Series A, GO, AGM, 5.00%, 09/01/2040		900		982
Series A, GO, AGM, 5.25%, 09/01/2052		1,000		1,080
				24,103
Kentucky — 1.9%
City of Henderson, Pratt Paper LLC Project, Rev., AMT, 4.45%, 01/01/2042 (e)		1,685		1,663
County of Carroll, Utilities Company Project, Rev., AMT, 2.00%, 02/01/2032		8,620		7,145

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Kentucky — continued
County of Meade, Nucor Steel Brandenbur, Rev., VRDO, AMT, 5.16%, 04/01/2024 (z)		14,600		14,600
County of Trimble, Kentucky Utilities Co., Rev., AMT, 4.70%, 06/01/2054 (z)		8,000		8,072
County of Trimble, Louisville Gas & Electric, Rev., 0.63%, 09/01/2026		605		554
County of Trimble, Louisville Gas & Electricity, Rev., AMT, 1.35%, 11/01/2027		8,100		7,323
County of Trimble, Louisville Gas and Electric, Rev., AMT, 4.70%, 06/01/2054 (z)		6,665		6,725
County of Trimble, Louisville Gas and Electric Company, Rev., AMT, 1.30%, 09/01/2044 (z)		1,000		881
County of Warren, Bowling Green Warren County,
Rev., 5.00%, 04/01/2042		2,540		2,793
Rev., 5.00%, 04/01/2043		2,500		2,740
Rev., 5.25%, 04/01/2049		5,000		5,487
Fayette County School District Finance Corp., Series A, Rev., 4.00%, 05/01/2038		3,000		2,997
Kentucky Bond Development Corp., Centre College, Rev., 4.00%, 06/01/2040		420		419
Kentucky Economic Development Finance Authority, Baptist Healthcare System, Series B, Rev., 5.00%, 08/15/2041		9,550		9,794
Kentucky Economic Development Finance Authority, Commonspirit Health, Series A, Rev., 5.00%, 08/01/2044		3,500		3,653
Kentucky Economic Development Finance Authority, Norton Healthcare, Inc.,
Series B, Rev., NATL, Zero Coupon, 10/01/2026		3,930		3,543
Series B, Rev., NATL, Zero Coupon, 10/01/2027		1,995		1,732
Kentucky Economic Development Finance Authority, Senior Next Generation Information,
Rev., 4.25%, 07/01/2035		2,645		2,637
Rev., 5.00%, 07/01/2040		5,000		5,012
Rev., 5.00%, 01/01/2045		3,295		3,294
Kentucky Housing Corp., Series A, Rev., GNMA/FNMA/FHLMC, 6.25%, 07/01/2054		2,390		2,668
Kentucky Housing Corp., Beecher Terrace Phase IV, Rev., HUD, 5.00%, 09/01/2043 (z)		1,015		1,039
Kentucky Public Energy Authority,
Series A1, Rev., 4.00%, 08/01/2052 (z)		1,000		1,000
Series A1, Rev., 5.25%, 04/01/2054 (z)		24,200		26,279
Series A2, Rev., (United States SOFR * 0.67 + 1.20%), 4.76%, 08/01/2052 (aa)		2,500		2,439
Series A2, Rev., (ICE LIBOR USD 1 Month * 0.67 + 1.12%), 4.77%, 12/01/2049 (aa)		1,000		999
Series A, Rev., 5.00%, 05/01/2055 (z)		10,285		10,884
Series C, Rev., 4.00%, 02/01/2050 (z)		10,885		10,960
Kentucky Public Energy Authority, Gas Supply,
Series B, Rev., 4.00%, 07/01/2024		1,320		1,318
Series B, Rev., 4.00%, 01/01/2049 (z)		12,385		12,379
Kentucky State University, Kentucky State University Project,
COP, BAM, 4.00%, 11/01/2033		145		154
COP, BAM, 4.00%, 11/01/2035		135		142
COP, BAM, 4.00%, 11/01/2036		155		161
COP, BAM, 4.00%, 11/01/2038		650		664
Louisville and Jefferson County Metropolitan Government, Louisville Gas And Electric Co. Project, Series A, Rev., 0.90%, 09/01/2026		2,750		2,543
Louisville and Jefferson County Metropolitan Government, Norton Healthcare, Inc., Rev., 5.00%, 10/01/2031		670		691
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric, Rev., 2.00%, 10/01/2033		1,000		812
Louisville/Jefferson County Metropolitan Government, Louisville Gas & Electric Co. Project, Rev., AMT, 1.35%, 11/01/2027		2,000		1,808
Louisville/Jefferson County Metropolitan Government, UofL Health Project, Series A, Rev., 5.00%, 05/15/2047		3,180		3,332
				171,336

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 1.2%
City of New Orleans Sewerage Service Revenue, Rev., 5.00%, 06/01/2045 (p)		2,000		2,037
City of Shreveport, Water & Sewer Improvement, GO, 5.00%, 09/01/2032 (p)		4,390		4,413
Consolidated Government of the City of Baton Rouge & Parish of East Baton Rouge, Sales Tax, Rev., AGM, 5.00%, 08/01/2027		1,400		1,489
East Baton Rouge Sewerage Commission, Series A, Rev., 1.30%, 02/01/2041 (z)		4,500		3,990
Ernest N Morial New Orleans Exhibition Hall Authority, Special Tax, 5.25%, 07/15/2048		6,000		6,600
Lakeshore Villages Master Community Development District, Parish of St. Tammany, Special Assessment, 3.20%, 06/01/2041 (e)		630		510
Louisiana Housing Corp., Home Ownership Program, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 06/01/2054		400		431
Louisiana Housing Corp., Social Bonds Home Ownership Project, Rev., GNMA/FNMA/FHLMC, 5.00%, 06/01/2052		1,180		1,210
Louisiana Local Government Environmental Facilities & Community Development Authority, American Biocarbon Court LLC, Rev., AMT, 4.00%, 12/01/2046 (z)		1,885		1,883
Louisiana Local Government Environmental Facilities & Community Development Authority, Entergy Louisiana LLC Project,
Rev., 2.00%, 06/01/2030		2,755		2,414
Rev., 2.50%, 04/01/2036		1,185		972
Louisiana Local Government Environmental Facilities & Community Development Authority, Subordinate, East Baton Rouge,
Rev., 5.00%, 02/01/2036		640		721
Rev., 5.00%, 02/01/2041		1,560		1,702
Louisiana Local Government Environmental Facilities & Community Development Authority, Westlake Chemical Corp. Project, Rev., 3.50%, 11/01/2032		3,685		3,552
Louisiana Public Facilities Authority, Children’s Medical Center Project, Rev., 5.00%, 06/01/2045 (z)		450		475
Louisiana Public Facilities Authority, Elementus Minerals LLC Project, Rev., AMT, 5.00%, 10/01/2043 (e) (z)		6,365		6,420
Louisiana Public Facilities Authority, Loyola University Project,
Rev., 4.00%, 10/01/2038		2,560		2,554
Rev., 5.25%, 10/01/2048		2,100		2,226
Louisiana Public Facilities Authority, Ochsner Clinic Foundation, Series B, Rev., 5.00%, 05/15/2050 (z)		1,100		1,112
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Rev., 5.00%, 05/15/2042		1,480		1,517
Louisiana Stadium & Exposition District, Senior Bonds,
Series A, Rev., 5.00%, 07/01/2042		5,460		6,027
Series A, Rev., 5.00%, 07/01/2048		2,500		2,689
Series A, Rev., 5.25%, 07/01/2053		7,500		8,169
New Orleans Aviation Board,
Series B, Rev., AMT, 5.00%, 01/01/2040		14,500		14,543
Series B, Rev., AMT, 5.00%, 01/01/2045		4,000		4,004
New Orleans Aviation Board, General Airport, Series D2, Rev., AMT, 5.00%, 01/01/2033		1,100		1,141
New Orleans Aviation Board, General Airport North Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2038		1,000		1,028
Series B, Rev., AMT, 5.00%, 01/01/2048		5,000		5,058
Parish of St John the Baptist, Marathon Oil Corporation Project, Rev., 4.05%, 06/01/2037 (z)		2,625		2,606
Parish of St. John the Baptist, Marathon Oil Corp. Project, Series B1, Rev., 2.13%, 06/01/2037 (z)		875		869
Port New Orleans Board of Commissioners, Series E, Rev., AMT, 5.00%, 04/01/2039		1,170		1,237

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — continued
St. Tammany Parish Hospital Service District No. 1,
Series A, Rev., 5.00%, 07/01/2032		1,615		1,727
Series A, Rev., 5.00%, 07/01/2034		1,655		1,768
State of Louisiana, Series A, GO, 5.00%, 03/01/2037		9,555		10,361
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		1,107
				108,562
Maine — 0.2%
Finance Authority of Maine, Supplemental Educational Loan Program,
Series A1, Rev., AGM, AMT, 2.38%, 12/01/2033		705		595
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		2,101
Maine State Housing Authority, Social Bonds, Series D, Rev., 3.00%, 11/15/2051		870		840
Maine Turnpike Authority,
Rev., 4.00%, 07/01/2045		9,000		8,833
Rev., 5.00%, 07/01/2028		2,000		2,178
				14,709
Maryland — 1.5%
City of Baltimore, Water Project, Series A, Rev., 5.00%, 07/01/2050		3,200		3,398
City of Brunswick, Brunswick Crossing Special Tax, Special Tax, 4.00%, 07/01/2029		500		491
County of Baltimore, GO, 4.00%, 03/01/2042		10,300		10,216
County of Howard, Series D, GO, 5.00%, 02/15/2030		3,000		3,259
County of Montgomery, Series B, GO, 4.00%, 11/01/2028		1,500		1,585
County of Montgomery, Trinity Health Credit Group, Rev., 4.00%, 12/01/2044		3,000		2,911
County of Prince George’s, Series A, GO, 5.00%, 07/01/2029		1,250		1,396
County of Prince George’s, Chesapeake Lighthouse Obligations, Series A, Rev., 6.50%, 08/01/2035 (e) (p)		750		786
Maryland Community Development Administration,
Series B, Rev., 3.00%, 09/01/2051		135		130
Series D, Rev., 3.25%, 09/01/2050		2,105		2,050
Maryland Community Development Administration, Community Dev Admin Social Bonds, Rev., GNMA/FNMA/FHLMC COLL, 4.95%, 09/01/2042		1,430		1,504
Maryland Community Development Administration, Park Heights Senior, Series C, Rev., 5.25%, 11/01/2025		4,880		4,924
Maryland Community Development Administration, Residential,
Series A, Rev., 3.75%, 03/01/2050		1,095		1,080
Series B, Rev., AMT, 4.50%, 09/01/2048		1,180		1,176
Maryland Community Development Administration, Social Bonds,
Series C, Rev., 3.00%, 09/01/2051		5,131		4,946
Series C, Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 09/01/2054		445		474
Maryland Community Development Administration, Sustainable Bonds, Series E, Rev., GNMA/FNMA/FHLMC, 6.25%, 03/01/2054		5,000		5,455
Maryland Economic Development Corp., CNX Marine Terminals, Inc., Rev., 5.75%, 09/01/2025		750		755
Maryland Economic Development Corp., Green Bond Purple Line Light, Rev., AMT, 5.25%, 06/30/2052		2,000		2,094

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Economic Development Corp., Green Bond, Purple Line, Rev., AMT, 5.25%, 06/30/2047		1,300		1,365
Maryland Economic Development Corp., Morgan State University Project,
Rev., 4.00%, 07/01/2040		665		633
Rev., 5.38%, 07/01/2038		1,250		1,361
Maryland Economic Development Corp., Port Covington Project,
Tax Allocation, 3.25%, 09/01/2030		1,405		1,311
Tax Allocation, 4.00%, 09/01/2040		2,280		2,065
Maryland Economic Development Corp., Transportation Facilities Project, Series A, Rev., 5.00%, 06/01/2035		1,000		1,046
Maryland Health & Higher Educational Facilities Authority, Adventist Healthcare,
Rev., 4.00%, 01/01/2038		2,020		1,882
Rev., 5.00%, 01/01/2025		470		472
Rev., 5.00%, 01/01/2036		4,580		4,744
Maryland Health & Higher Educational Facilities Authority, Doctors Community Hospital, Rev., 5.00%, 07/01/2034		2,000		2,060
Maryland Health & Higher Educational Facilities Authority, Lifebridge Health, Rev., 4.00%, 07/01/2041		2,315		2,272
Maryland Health & Higher Educational Facilities Authority, Medstar Health Issue,
Series A, Rev., 5.00%, 05/15/2042		3,000		3,091
Series A, Rev., 5.00%, 05/15/2045		9,565		9,801
Series B, Rev., 5.00%, 08/15/2038		1,000		1,000
Maryland Health & Higher Educational Facilities Authority, Meritus Medical Center, Rev., 5.00%, 07/01/2028		1,300		1,320
Maryland Stadium Authority Built to Learn Revenue,
Rev., 4.00%, 06/01/2035		2,000		2,081
Rev., 4.00%, 06/01/2036		2,125		2,197
Series A, Rev., 5.00%, 06/01/2033		1,375		1,582
State of Maryland, Series B, GO, 5.00%, 08/01/2026		1,000		1,047
State of Maryland Department of Transportation, Rev., 3.00%, 10/01/2030		1,500		1,487
State of Maryland Department of Transportation, Baltimore Washington International,
Rev., AMT, 4.00%, 08/01/2038		965		952
Rev., AMT, 4.00%, 08/01/2039		1,160		1,140
State of Maryland, Bidding Group 1, Series A, GO, 5.00%, 03/15/2030		1,495		1,694
State of Maryland, Group 1, Series A, GO, 5.00%, 08/01/2028		1,500		1,643
State of Maryland, Local Facilities Loan, Series A, GO, 5.00%, 08/01/2028		5,000		5,477
State of Maryland, State & Local Facilities Loan of 2022, GO, 5.00%, 06/01/2033		1,000		1,176
University System of Maryland, Series A, Rev., 4.00%, 04/01/2051		1,500		1,443
Washington Suburban Sanitary Commission,
Rev., CNTY GTD, 2.13%, 06/01/2036		7,885		6,416
Rev., CNTY GTD, 5.00%, 06/01/2029		2,000		2,231
Rev., CNTY GTD, 5.00%, 06/01/2039		9,080		10,468
Washington Suburban Sanitary Commission, Consolidated Public Improvement,
Rev., CNTY GTD, 5.00%, 06/01/2029		1,500		1,639
Rev., CNTY GTD, 5.00%, 06/01/2038		5,000		5,881
				131,607
Massachusetts — 2.0%
Boston Water & Sewer Commission, Senior Bonds, Series B, Rev., 4.00%, 11/01/2039		1,570		1,668
City of Brockton, GO, 4.00%, 08/01/2047		3,145		3,084
Collegiate Charter School of Lowell, Rev., 5.00%, 06/15/2049		1,250		1,218

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Commonwealth of Massachusetts,
GO, 4.00%, 05/01/2035		2,950		2,950
Rev., NATL, 5.50%, 01/01/2034		1,500		1,744
Series B, GO, 5.00%, 11/01/2041		9,000		10,263
Series C, GO, 5.00%, 10/01/2049		10,000		10,862
Series D, GO, 5.00%, 10/01/2053		10,000		10,746
Series E, GO, 5.00%, 11/01/2047		5,000		5,443
Commonwealth of Massachusetts Transportation Fund Revenue, Rail Enhancement Project, Series B, Rev., 5.00%, 06/01/2025		375		383
Commonwealth of Massachusetts, Consolidated Loan,
Series A, GO, 5.00%, 01/01/2041		1,500		1,704
Series A, GO, 5.00%, 01/01/2054		10,000		10,744
Commonwealth of Massachusetts, Consolidated Loans, Series E, GO, 5.00%, 11/01/2050		2,175		2,304
Massachusetts Clean Water Trust (The), Sustainable Bonds,
Rev., 5.00%, 02/01/2033		1,000		1,201
Rev., 5.00%, 02/01/2035		3,760		4,482
Rev., 5.00%, 02/01/2038		250		290
Massachusetts Development Finance Agency, Beth Israel Lahey Health Issue, Rev., 5.00%, 07/01/2032		4,385		5,059
Massachusetts Development Finance Agency, Children’s Hospital Issuances, Rev., VRDO, LOC: TD Bank NA, 4.50%, 04/01/2024 (z)		10,000		10,000
Massachusetts Development Finance Agency, Emerson College, Series A, Rev., 5.00%, 01/01/2047		3,075		3,091
Massachusetts Development Finance Agency, Green Bond, Boston Medical Center, Rev., 5.00%, 07/01/2044		2,840		2,824
Massachusetts Development Finance Agency, Harvard University Issue, Series A, Rev., 5.00%, 10/15/2030		1,000		1,159
Massachusetts Development Finance Agency, Lahey Health System, Series F, Rev., 5.00%, 08/15/2045		10,000		10,072
Massachusetts Development Finance Agency, Mass General Brigham,
Series D, Rev., 5.00%, 07/01/2047		8,010		8,678
Series D, Rev., 5.00%, 07/01/2054		7,000		7,445
Massachusetts Development Finance Agency, Milford Regional Medical Center, Rev., 5.00%, 07/15/2046 (e)		1,000		967
Massachusetts Development Finance Agency, Northeastern University Issue, Rev., 5.00%, 10/01/2044		2,000		2,210
Massachusetts Development Finance Agency, Partners Healthcare System, Rev., (SIFMA Municipal Swap Index + 0.60%), 4.24%, 07/01/2049 (aa) (e)		100		100
Massachusetts Development Finance Agency, Suffolk University Project, Rev., 4.00%, 07/01/2051		1,250		1,067
Massachusetts Development Finance Agency, UMass Memorial Health Care, Rev., 5.00%, 07/01/2044		1,000		1,011
Massachusetts Educational Financing Authority,
Series B, Rev., AMT, 2.63%, 07/01/2036		300		297
Series B, Rev., AMT, 5.00%, 07/01/2024		615		616
Series I, Rev., AMT, 5.00%, 01/01/2025		3,000		3,025
Massachusetts Educational Financing Authority, Educational Loan Revenue Bonds, Rev., AMT, 2.00%, 07/01/2037		160		139
Massachusetts Educational Financing Authority, Senior, Series B, Rev., AMT, 5.00%, 07/01/2029		1,400		1,478

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Educational Financing Authority, Senior Bonds,
Series B, Rev., AMT, 4.25%, 07/01/2044		305		301
Series B, Rev., AMT, 5.00%, 07/01/2029		2,650		2,797
Massachusetts Educational Financing Authority, Senior Issue M, Series B, Rev., AMT, 3.63%, 07/01/2038		895		832
Massachusetts Health & Educational Facilities Authority, Museum Fine, Series A1, Rev., VRDO, 4.58%, 04/01/2024 (z)		13,970		13,970
Massachusetts Housing Finance Agency, Mill Road Apartments Project, Rev., VRDO, 3.60%, 04/04/2024 (z)		5,875		5,875
Massachusetts Housing Finance Agency, Social Bond, Series 220, Rev., GNMA/FNMA/FHLMC, 3.00%, 12/01/2050		2,870		2,778
Massachusetts Housing Finance Agency, Social Bonds,
Series 223, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2047		900		870
Series 227, Rev., GNMA/FNMA/FHLMC COLL, 4.70%, 12/01/2043		2,250		2,276
Massachusetts Housing Finance Agency, Sustainability Bond,
Series B2, Rev., 0.75%, 06/01/2025		115		110
Series C1, Rev., 2.65%, 12/01/2034		1,000		866
Series D3, Rev., FHA HUD, 3.35%, 06/01/2027		650		646
Massachusetts Housing Finance Agency, Sustainability Bonds, Series A2, Rev., HUD, 0.40%, 06/01/2024		140		139
Massachusetts Port Authority,
Series E, Rev., AMT, 5.00%, 07/01/2031		1,495		1,659
Series E, Rev., AMT, 5.00%, 07/01/2032		2,000		2,219
Massachusetts Port Authority, Green Bonds,
Series A, Rev., AMT, 5.00%, 07/01/2031		925		1,027
Series A, Rev., AMT, 5.00%, 07/01/2038		2,580		2,798
Series A, Rev., AMT, 5.00%, 07/01/2040		3,500		3,760
Massachusetts School Building Authority, Sales Tax, Series A, Rev., 5.00%, 11/15/2027		1,105		1,140
Massachusetts Water Resources Authority, Green Bond, Series B, Rev., 5.00%, 08/01/2026		1,000		1,049
University of Massachusetts Building Authority, Series 2021, Rev., 5.00%, 11/01/2026		5,000		5,267
				178,703
Michigan — 1.8%
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%), 4.35%, 07/01/2032 (aa)		1,000		956
City of Detroit, Social Bonds,
Series A, GO, 4.00%, 04/01/2041		500		473
Series A, GO, 5.00%, 04/01/2039		115		120
Series A, GO, 5.00%, 04/01/2046		35		36
Series A, GO, 5.00%, 04/01/2050		30		30
Detroit Downtown Development Authority, Catalyst Development Project,
Series A, Tax Allocation, AGM, 5.00%, 07/01/2043		1,000		990
Series A, Tax Allocation, AGM, 5.00%, 07/01/2048		2,500		2,434
Gerald R Ford International Airport Authority,
Rev., CNTY GTD, AMT, 5.00%, 01/01/2026		225		231
Rev., CNTY GTD, AMT, 5.00%, 01/01/2027		350		365
Rev., CNTY GTD, AMT, 5.00%, 01/01/2028		275		292
Rev., CNTY GTD, AMT, 5.00%, 01/01/2029		600		647
Rev., CNTY GTD, AMT, 5.00%, 01/01/2034		1,140		1,273
Rev., CNTY GTD, AMT, 5.00%, 01/01/2038		1,300		1,418
Rev., CNTY GTD, AMT, 5.00%, 01/01/2039		1,000		1,083
Rev., CNTY GTD, AMT, 5.00%, 01/01/2040		1,125		1,212

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Grand Rapids Public Schools,
GO, AGM, 5.00%, 05/01/2042		1,225		1,361
GO, AGM, 5.00%, 05/01/2043		1,700		1,876
GO, AGM, 5.00%, 05/01/2044		1,450		1,589
GO, AGM, 5.00%, 05/01/2046		4,000		4,367
Great Lakes Water Authority Sewage Disposal System Revenue, Senior Lien,
Series A, Rev., 5.00%, 07/01/2038		645		749
Series B, Rev., 5.00%, 07/01/2025		1,115		1,136
Series B, Rev., 5.00%, 07/01/2028		140		153
Series C, Rev., 5.00%, 07/01/2037		850		992
Series C, Rev., 5.00%, 07/01/2038		725		842
Series C, Rev., 5.00%, 07/01/2040		1,150		1,317
Series C, Rev., 5.00%, 07/01/2041		1,140		1,297
Series C, Rev., 5.00%, 07/01/2042		1,200		1,357
Series C, Rev., 5.00%, 07/01/2043		875		983
Great Lakes Water Authority Water Supply System Revenue, Senior Lien, Series C, Rev., 5.25%, 07/01/2033		2,515		2,627
Great Lakes Water Authority Water Supply System Revenue, Senior Lien Bonds,
Series A, Rev., 5.00%, 07/01/2037		2,510		2,930
Series A, Rev., 5.00%, 07/01/2038		2,000		2,322
Series B, Rev., 5.00%, 07/01/2037		550		642
Series B, Rev., 5.00%, 07/01/2038		500		580
Great Lakes Water Authority, Sewage Disposal System, Second Lien, Series C, Rev., 5.00%, 07/01/2032		75		78
Great Lakes Water Authority, Sewage Disposal System, Senior Lien, Series B, Rev., 5.00%, 07/01/2030		3,200		3,329
Lansing Board of Water & Light,
Series A, Rev., 5.00%, 07/01/2037		1,625		1,882
Series A, Rev., 5.00%, 07/01/2039		405		462
Series A, Rev., 5.00%, 07/01/2041		1,500		1,694
Series A, Rev., 5.00%, 07/01/2048		1,675		1,769
Series A, Rev., 5.25%, 07/01/2054		7,000		7,729
Michigan Finance Authority, Series A, Rev., 4.00%, 12/01/2049		1,000		937
Michigan Finance Authority, Aquinas College Project,
Rev., 5.00%, 05/01/2036		300		271
Rev., 5.00%, 05/01/2046		2,000		1,597
Michigan Finance Authority, Beaumont Health Credit Group, Rev., 5.00%, 11/01/2044		8,090		8,205
Michigan Finance Authority, Beaumont Spectrum,
Rev., 4.00%, 04/15/2042		2,500		2,456
Rev., 5.00%, 04/15/2030		3,000		3,355
Michigan Finance Authority, Beaumont Spectrum Consolidated, Rev., 4.00%, 04/15/2038		1,175		1,195
Michigan Finance Authority, Che Trinity Health, Rev., 4.00%, 12/01/2040 (p)		95		102
Michigan Finance Authority, Henry Ford Health System,
Rev., 5.00%, 11/15/2041		3,145		3,221
Series A, Rev., 5.00%, 11/15/2048		7,000		7,250
Michigan Finance Authority, Higher Educational Facilities Authority,
Rev., 5.00%, 09/01/2032		690		762
Rev., 5.00%, 09/01/2033		800		880
Rev., 5.00%, 09/01/2034		570		627
Rev., 5.00%, 09/01/2035		1,200		1,317
Michigan Finance Authority, Local Government Loan Program, Rev., 5.00%, 07/01/2044		4,000		4,003

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Michigan Finance Authority, Multi Modal McLaren Health Care,
Rev., 4.00%, 02/15/2044		9,625		9,291
Rev., 4.00%, 02/15/2047		3,000		2,830
Rev., 4.00%, 02/15/2050		2,500		2,310
Michigan Finance Authority, Senior Lien Great Lakes, Rev., 5.00%, 07/01/2033		5,000		5,008
Michigan Finance Authority, Senior Turbo, Series A2, Rev., 5.00%, 06/01/2040		1,655		1,737
Michigan Finance Authority, Sparrow Obligated Group, Rev., 5.00%, 11/15/2045 (p)		2,250		2,287
Michigan Finance Authority, Sparrow Obligation Group, Rev., 5.00%, 11/15/2045 (p)		2,750		2,796
Michigan Finance Authority, Trinity Health Credit Group, Rev., 5.00%, 12/01/2036		1,000		1,116
Michigan Finance Authority, Unrefunded Trinity Health Co., Rev., 5.00%, 12/01/2045		2,250		2,288
Michigan State Building Authority, Series I, Rev., 5.00%, 10/15/2027		2,500		2,681
Michigan State Building Authority, Facilities Program,
Series II, Rev., 4.00%, 10/15/2043		1,000		1,001
Series II, Rev., 5.00%, 10/15/2026		3,500		3,671
Series II, Rev., 5.00%, 10/15/2042		1,350		1,515
Michigan State Hospital Finance Authority, Hospital Trinity Health Credit, Series C, Rev., 5.00%, 12/01/2027		100		107
Michigan State Housing Development Authority,
Series A, Rev., 0.55%, 04/01/2025		375		359
Series C, Rev., 3.00%, 06/01/2051		2,010		1,944
Michigan State Housing Development Authority, Social Bond,
Series A, Rev., 3.00%, 06/01/2052		3,355		3,237
Series A, Rev., 5.00%, 06/01/2053		2,230		2,293
Michigan State Housing Development Authority, Social Bonds,
Series A, Rev., 5.50%, 12/01/2053		1,290		1,375
Series D, Rev., 5.50%, 06/01/2053		345		362
Michigan State Housing Development Authority, Sustainable Bonds, Series A, Rev., 6.00%, 06/01/2054		2,890		3,149
Michigan State University, Series C, Rev., 4.00%, 02/15/2039		2,000		2,022
Michigan Strategic Fund, Consumers Energy Co. Project, Rev., AMT, 0.88%, 04/01/2035 (z)		1,620		1,456
Michigan Strategic Fund, Detroit Edison Co. Exempt, Rev., 1.35%, 08/01/2029		3,450		2,980
Michigan Strategic Fund, Detroit Edison Company, Rev., 1.45%, 09/01/2030		810		685
Michigan Strategic Fund, Green Bond Recycling, Rev., AMT, 4.00%, 10/01/2061 (z)		1,685		1,683
State of Michigan Trunk Line Revenue, State Trunk Line Fund Bonds, Rev., 4.00%, 11/15/2037		2,015		2,120
State of Michigan, Environmental Program Bonds, Series A, GO, 5.00%, 05/15/2030		400		452
State of Michigan, Gans Garvee, Rev., GAN, 5.00%, 03/15/2027		2,000		2,114
Troy School District, GO, Q-SBLF, 5.00%, 05/01/2039		1,025		1,163
Wayne County Airport Authority, Series F, Rev., AMT, 5.00%, 12/01/2034		1,470		1,495
Wayne County Airport Authority, Detroit Metropolitan Wayne County Airport, Series B, Rev., BAM, 5.00%, 12/01/2039		3,000		3,017
				162,345
Minnesota — 0.9%
City of Minneapolis, Allina Health System,
Series A, Rev., 5.00%, 11/15/2052 (z)		1,000		1,071
Series B, Rev., 5.00%, 11/15/2053 (z)		2,650		2,922
City of Minneapolis, Fairview Health Services, Series A, Rev., 4.00%, 11/15/2048		4,120		3,640
County of Hennepin, Series C, GO, 5.00%, 12/15/2032		1,500		1,680
Duluth Economic Development Authority, Essentia Health Obligation Group, Rev., 5.25%, 02/15/2058		1,000		1,022

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Fairview Health Services, Series A, Rev., 5.00%, 11/15/2047		9,000		9,121
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Hope Community Academy Project, Series A, Rev., 5.00%, 12/01/2043		1,000		806
Housing & Redevelopment Authority of The City of St. Paul Minnesota, System Fairview Health Services, Series 2015, Rev., AGM-CR, 5.00%, 11/15/2047		4,500		4,609
Minneapolis St. Paul Metropolitan Airports Commission, Subordinate,
Series B, Rev., AMT, 5.00%, 01/01/2034		1,345		1,498
Series B, Rev., AMT, 5.25%, 01/01/2047		1,845		1,971
Minnesota Agricultural & Economic Development Board, Healthpartners Obligated Group,
Rev., 5.25%, 01/01/2047		5,000		5,530
Rev., 5.25%, 01/01/2054		5,000		5,428
Minnesota Housing Finance Agency,
Series B, Rev., GNMA/FNMA/FHLMC, 2.63%, 01/01/2040		1,920		1,559
Series B, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2051		920		889
Series C, Rev., 5.00%, 08/01/2032		2,365		2,715
Series D, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,525		1,471
Series G, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2051		2,825		2,734
Series I, Rev., GNMA/FNMA/FHLMC, 2.80%, 12/01/2047		313		277
Series I, Rev., 3.00%, 01/01/2051		1,525		1,475
Minnesota Housing Finance Agency, Social Bond, Series H, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		375		361
Minnesota Housing Finance Agency, Social Bonds,
Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		1,085		1,044
Series F, Rev., GNMA/FNMA/FHLMC, 3.00%, 07/01/2052		230		222
Series F, Rev., GNMA/FNMA/FHLMC, 5.75%, 07/01/2053		395		420
Minnesota Housing Finance Agency, State Appropriation Bond Housing, Rev., 5.00%, 08/01/2029		1,245		1,375
Minnesota Housing Finance Agency, Sustainable Bonds, Series R, Rev., GNMA/FNMA/FHLMC, 6.25%, 07/01/2054		5,000		5,459
Minnesota Municipal Gas Agency, Series A, Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2052 (z)		4,370		4,407
Minnesota Office of Higher Education, Supplemental Student Loan, Rev., AMT, 4.00%, 11/01/2037		665		657
St. Paul Port Authority, Solid Gerdau St. Paul Steel Mill Project, Rev., AMT, 4.50%, 10/01/2037 (e)		4,500		4,350
State of Minnesota,
Series A, GO, 4.00%, 09/01/2037		690		718
Series A, GO, 5.00%, 08/01/2026		250		261
Series A, GO, 5.00%, 08/01/2028		1,000		1,093
Series A, GO, 5.00%, 10/01/2029		45		49
Series A, GO, 5.00%, 10/01/2032		1,000		1,080
Series A, GO, 5.00%, 08/01/2033		3,375		3,715
Series A, GO, 5.00%, 08/01/2034		2,000		2,193
Series E, GO, 3.00%, 08/01/2026		710		704
University of Minnesota,
Series A, Rev., 5.00%, 01/01/2040		405		465
Series A, Rev., 5.00%, 01/01/2041		2,500		2,847
Series A, Rev., 5.00%, 01/01/2042		2,750		3,114
				84,952

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Mississippi — 0.1%
Mississippi Business Finance Corp., Chevron USA, Inc. Project, Series D, Rev., VRDO, 4.60%, 04/01/2024 (z)		5,000		5,000
Mississippi Business Finance Corp., System Energy Resources, Inc. Project, Rev., 2.38%, 06/01/2044		175		110
Mississippi Development Bank, Hinds County School District Project, Rev., 5.00%, 03/01/2048		1,360		1,403
Mississippi Home Corp., Social Bond, Series C, Rev., GNMA/FNMA/FHLMC COLL, 5.00%, 12/01/2052		175		180
Mississippi Hospital Equipment & Facilities Authority, Baptist Memorial Health Care, Rev., 5.00%, 09/01/2044 (z)		250		252
				6,945
Missouri — 0.6%
Cape Girardeau County Industrial Development Authority, Southeasthealth, Rev., 4.00%, 03/01/2041		870		854
City of Kansas City Sanitary Sewer System Revenue, Series A, Rev., 5.00%, 01/01/2041		1,000		1,125
Curators of the University of Missouri (The),
Series A, Rev., 4.00%, 11/01/2034		2,500		2,477
Series A, Rev., 4.00%, 11/01/2035		1,000		990
Health & Educational Facilities Authority of the State of Missouri, Series C, Rev., 5.00%, 05/01/2052 (z)		2,695		2,867
Health & Educational Facilities Authority of the State of Missouri, Luke’s Health System, Rev., 4.00%, 11/15/2038		2,000		2,044
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Service Projects, Series A, Rev., 5.00%, 02/01/2029		1,410		1,444
Health & Educational Facilities Authority of the State of Missouri, Lutheran Senior Services, Rev., 4.00%, 02/01/2034		500		481
Kansas City Industrial Development Authority, Rev., AMT, 5.00%, 03/01/2032		900		972
Kansas City Industrial Development Authority, Kansas City International Airport,
Rev., AMT, 4.00%, 03/01/2036		1,250		1,245
Rev., AMT, 4.00%, 03/01/2040		2,500		2,441
Rev., AMT, 5.00%, 03/01/2029		3,050		3,236
Rev., AMT, 5.00%, 03/01/2038		2,480		2,591
Kansas City Industrial Development Authority, Kansas City International Airport, Rev., AMT, 5.00%, 03/01/2044		5,000		5,137
Kansas City Planned Industrial Expansion Authority, The Depot On Old Santa Fe, Rev., 5.00%, 07/01/2045 (z)		5,722		5,910
Missouri Development Finance Board, Procter & Gamble Paper Products, Rev., AMT, 5.20%, 03/15/2029		370		407
Missouri Housing Development Commission, First Place Homeownership Loan,
Rev., GNMA/FNMA/FHLMC, 3.00%, 05/01/2052		3,555		3,436
Rev., GNMA/FNMA/FHLMC, 3.25%, 11/01/2052		390		379
Rev., GNMA/FNMA/FHLMC, 4.45%, 11/01/2044		1,750		1,756
Rev., GNMA/FNMA/FHLMC, 5.75%, 05/01/2055		2,915		3,175
Rev., GNMA/FNMA/FHLMC, 6.50%, 05/01/2054		2,695		3,043
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		1,879
Plaza at Noah’s Ark Community Improvement District, Rev., 3.00%, 05/01/2030		575		534
St. Louis Municipal Finance Corp., Convention Center Expansion, Rev., AGM, 5.00%, 10/01/2045		3,215		3,387
				51,815

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Montana — 0.1%
City of Forsyth, Northwestern Corp. Colstrip, Rev., 3.88%, 07/01/2028		3,275		3,320
Montana Board of Housing,
Rev., 3.00%, 12/01/2050		2,595		2,514
Series A, Rev., 3.00%, 06/01/2052		340		328
Series B2, Rev., AMT, 3.50%, 12/01/2042		205		203
Series B, Rev., 3.00%, 12/01/2051		1,110		1,072
Series C, Rev., 6.25%, 06/01/2054		1,440		1,573
Montana Facility Finance Authority, Rev., 5.00%, 02/15/2033		1,000		1,036
				10,046
Nebraska — 0.4%
Central Plains Energy Project,
Rev., LIQ: Royal Bank of Canada, 4.00%, 12/01/2049 (z)		15,845		15,882
Series 1, Rev., 5.00%, 05/01/2053 (z)		3,915		4,142
County of Douglas, Creighton University Project, Rev., (SIFMA Municipal Swap Index + 0.53%), 4.17%, 07/01/2035 (aa)		2,210		2,178
County of Washington, Cargill, Inc. Project, Rev., AMT, 0.90%, 09/01/2030 (z)		350		336
Douglas County Hospital Authority No. 2, Children’s Hospital Obligation, Rev., 4.00%, 11/15/2038		1,125		1,131
Douglas County Hospital Authority No. 2, Health Facilities Children’s Hospital, Rev., 5.00%, 11/15/2047		3,000		3,054
Douglas County Hospital Authority No. 2, Madonna Rehabilitation Hospital, Rev., 4.00%, 05/15/2033		2,100		2,035
Douglas County, Hospital Authority No. 2, Children’s Hospital Obligated Group, Rev., 5.00%, 11/15/2053 (z)		2,190		2,221
Nebraska Educational Health Cultural & Social Services Finance Authority, Immanuel Obligated Group, Rev., 4.00%, 01/01/2037		1,000		1,011
Nebraska Public Power District, Series A, Rev., 5.00%, 07/01/2028		300		324
University of Nebraska Lincoln Student, Rev., 3.00%, 07/01/2035 (p)		1,030		1,029
				33,343
Nevada — 1.0%
City of Carson City, Carson Tahoe Regional Medical Center, Rev., 5.00%, 09/01/2047		1,000		1,011
City of Henderson, Series A1, GO, 4.00%, 06/01/2045		2,000		1,975
City of Las Vegas Special Improvement District No. 612 Skye Hills, Special Assessment, 3.50%, 06/01/2035		205		173
City of Las Vegas Special Improvement District No. 817 Summerlin Village 29, Special Improvement No. 817, Summerlin Village,
Special Assessment, 5.50%, 06/01/2038		400		413
Special Assessment, 5.75%, 06/01/2043		500		517
City of North Las Vegas, GO, BAM, 5.00%, 06/01/2027		2,000		2,121
Clark County School District,
Series A, GO, AGM, 4.00%, 06/15/2040		1,375		1,386
Series B, GO, 5.00%, 06/15/2030		1,445		1,618
Series C, GO, 5.00%, 06/15/2026		1,250		1,300
Clark County School District, Building,
Series A, GO, 5.00%, 06/15/2029		500		539
Series B, GO, AGM-CR, 5.00%, 06/15/2033		3,000		3,252
County of Clark, GO, 4.00%, 06/01/2038		4,300		4,332
County of Clark Department of Aviation, Airport Systems, Subordinate, Rev., 5.00%, 07/01/2033		1,010		1,162

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Nevada — continued
County of Clark Department of Aviation, Jet Aviation Fuel Tax, Rev., AMT, 5.00%, 07/01/2025		1,625		1,649
County of Clark Department of Aviation, Subordinate, Series B, Rev., AMT, 5.00%, 07/01/2027		6,000		6,304
County of Clark Department of Aviation, System Senior, Series A, Rev., 5.00%, 07/01/2040		2,000		2,027
County of Clark Passenger Facility Charge Revenue, McCarran International,
Rev., 5.00%, 07/01/2029		5,000		5,535
Rev., 5.00%, 07/01/2031		1,950		2,160
Rev., 5.00%, 07/01/2032		2,385		2,637
County of Clark, Detention Center, GO, 4.00%, 06/01/2034		3,335		3,467
County of Clark, Passenger Facility Charge Revenue, Las Vegas McCarran International Airport, Rev., 5.00%, 07/01/2030		1,425		1,582
County of Clark, Southern CA Edison Company, Rev., 2.10%, 06/01/2031		1,000		861
County of Clark, Streets and Highway Project, Rev., 4.00%, 07/01/2043		4,465		4,468
County of Washoe, Sierra Pacific Power Company, Rev., AMT, 4.13%, 03/01/2036 (z)		9,000		9,140
Las Vegas Convention & Visitors Authority,
Series A, Rev., 5.00%, 07/01/2027		900		953
Series A, Rev., 5.00%, 07/01/2028		1,250		1,348
Series A, Rev., 5.00%, 07/01/2040		250		279
Series B, Rev., 5.00%, 07/01/2029		1,345		1,476
Series B, Rev., 5.00%, 07/01/2034		1,275		1,463
Series B, Rev., 5.00%, 07/01/2038		1,000		1,113
Series B, Rev., 5.00%, 07/01/2043		5,150		5,404
Las Vegas Valley Water District,
Series A, GO, 5.00%, 06/01/2026		1,500		1,562
Series D, GO, 5.00%, 06/01/2027		2,025		2,154
Las Vegas Valley Water District, Water Improvement, Series A, GO, 5.00%, 06/01/2046		5,000		5,087
State of Nevada Department of Business & Industry, Brightline West Passenger, Rev., AMT, 4.00%, 01/01/2050 (e) (z)		2,000		1,993
State of Nevada Department of Business & Industry, Republic Services Project, Rev., AMT, 4.50%, 12/01/2026 (e) (z)		4,300		4,298
Truckee Meadows Water Authority, Rev., 5.00%, 07/01/2034		2,000		2,413
				89,172
New Hampshire — 0.3%
New Hampshire Business Finance Authority,
Series 1A, Rev., 4.13%, 01/20/2034		2,994		2,917
Rev., 4.25%, 07/20/2041		5,125		5,082
Series 2022-1, Rev., 4.38%, 09/20/2036		649		637
New Hampshire Business Finance Authority, Caritas Oregon Project, Series A, Rev., 4.13%, 08/15/2040 (e)		2,000		1,763
New Hampshire Business Finance Authority, Presbyterian Senior Living Project, Rev., 5.25%, 07/01/2048		750		775
New Hampshire Business Finance Authority, Saint Luke’s University Health, Rev., 4.00%, 08/15/2036		720		727
New Hampshire Business Finance Authority, Springpoint Senior Living,
Rev., 4.00%, 01/01/2026		270		266
Rev., 4.00%, 01/01/2027		250		245
Rev., 4.00%, 01/01/2028		290		283
Rev., 4.00%, 01/01/2029		300		292
Rev., 4.00%, 01/01/2030		280		271
Rev., 4.00%, 01/01/2031		290		279

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — continued
New Hampshire Business Finance Authority, Taxable Virginia Birmingham Care Center, Rev., 3.78%, 01/01/2036		2,000		1,563
New Hampshire Business Finance Authority, University of Nevada, Reno Project, Rev., BAM, 5.25%, 06/01/2051		1,875		2,046
New Hampshire Business Finance Authority, Waste Management, Inc. Project, Rev., AMT, (SIFMA Municipal Swap Index + 0.38%), 4.02%, 10/01/2033 (aa)		4,170		4,161
New Hampshire Health and Education Facilities Authority Act, Series B, Rev., AMT, 5.00%, 11/01/2043		1,430		1,526
New Hampshire Health and Education Facilities Authority Act, Dartmouth Hitchcock Obligation, Rev., BAM, 4.00%, 08/01/2033		5,000		5,000
New Hampshire Housing Finance Authority, Social Bonds, Series A, Rev., GNMA/FNMA/FHLMC COLL, 6.00%, 07/01/2053		430		459
New Hampshire Housing Finance Authority, Sustainable Bonds, Series D, Rev., GNMA/FNMA/FHLMC, 6.50%, 07/01/2055		2,090		2,306
				30,598
New Jersey — 2.5%
Camden County Improvement Authority, Social Bonds, KIPP Cooper Norcross Academy,
Rev., 6.00%, 06/15/2042		530		582
Rev., 6.00%, 06/15/2047		1,000		1,084
City of Bayonne, Qualified General Improvement, GO, BAM, 5.00%, 07/01/2034 (p)		1,000		1,042
City of Newark, Series A, GO, AGM, 5.00%, 10/01/2028		750		807
Garden State Preservation Trust, Capital Appreciation, Series B, Rev., AGM, Zero Coupon, 11/01/2026		1,000		915
Gloucester County Improvement Authority, The Rowan University Fossil Park,
Rev., BAM, 4.00%, 07/01/2046		725		709
Rev., BAM, 4.00%, 07/01/2051		1,000		956
New Brunswick Parking Authority, City Guaranteed Parking, Series A, Rev., BAM, 5.00%, 09/01/2026		1,000		1,041
New Jersey Economic Development Authority,
Rev., 5.00%, 03/01/2028		785		842
Series A, Rev., 5.00%, 11/01/2027		2,500		2,664
Series AAA, Rev., 5.00%, 06/15/2036 (p)		1,000		1,054
Series AAA, Rev., 5.00%, 06/15/2041 (p)		500		527
Series AAA, Rev., 5.50%, 06/15/2028		5,000		5,270
Series AAA, Rev., 5.50%, 06/15/2032 (p)		2,000		2,134
Series BBB, Rev., 5.50%, 06/15/2030 (p)		1,225		1,307
Series DDD, Rev., 5.00%, 06/15/2031 (p)		2,000		2,132
Series WW, Rev., 5.00%, 06/15/2034 (p)		1,500		1,530
Series WW, Rev., 5.25%, 06/15/2030 (p)		1,000		1,023
New Jersey Economic Development Authority, Higher Education Capital Improvement Fund, Series A, Rev., 5.00%, 09/01/2025		245		246
New Jersey Economic Development Authority, New Jersey American Water Company, Inc.,
Rev., AMT, 1.10%, 11/01/2029 (z)		2,610		2,293
Series E, Rev., AMT, 0.85%, 12/01/2025		1,940		1,800
New Jersey Economic Development Authority, Port Newark Container, Rev., AMT, 5.00%, 10/01/2037		1,000		1,035
New Jersey Economic Development Authority, Portal North Bridge NJ Transit,
Rev., 5.00%, 11/01/2038		5,345		6,009
Rev., 5.00%, 11/01/2052		6,190		6,587
Rev., 5.25%, 11/01/2041		6,000		6,728

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Economic Development Authority, School Facilities Construction,
Series EEE, Rev., 5.00%, 06/15/2032		1,500		1,627
Series GGG, Rev., 5.25%, 09/01/2026 (e)		8,000		8,356
New Jersey Economic Development Authority, Self Designated Social Bonds,
Series QQQ, Rev., 5.00%, 06/15/2026		555		575
Series QQQ, Rev., 5.00%, 06/15/2027		410		434
Series QQQ, Rev., 5.00%, 06/15/2028		400		431
New Jersey Economic Development Authority, State House Project,
Series B, Rev., 5.00%, 06/15/2027		10,690		11,288
Series B, Rev., 5.00%, 06/15/2028		8,635		9,297
New Jersey Economic Development Authority, Sustainable Bonds, Series QQQ, Rev., 4.00%, 06/15/2037		2,400		2,467
New Jersey Educational Facilities Authority, Higher Education Capital Improvement Fund Issue,
Rev., 5.00%, 09/01/2038		1,000		1,133
Rev., 5.00%, 09/01/2040		2,200		2,464
New Jersey Educational Facilities Authority, Montclair State University, Series D, Rev., 5.00%, 07/01/2028		2,000		2,038
New Jersey Educational Facilities Authority, Princeton University,
Series A, Rev., 4.00%, 07/01/2028		1,860		1,861
Series I, Rev., 5.00%, 07/01/2036		1,015		1,081
New Jersey Educational Facilities Authority, Princeton University Revenue, Rev., 5.00%, 03/01/2044 (w)		2,250		2,558
New Jersey Educational Facilities Authority, Ramapo College of New Jersey, Series A, Rev., AGM, 5.00%, 07/01/2035		200		230
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System Obligated, Rev., 5.00%, 07/01/2032		2,070		2,325
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System Obligation, Rev., 3.00%, 07/01/2051		1,715		1,277
New Jersey Higher Education Student Assistance Authority,
Series B, Rev., AMT, 5.00%, 12/01/2024		570		574
Series B, Rev., AMT, 5.00%, 12/01/2027		1,340		1,390
Series B, Rev., AMT, 5.00%, 12/01/2028		1,480		1,550
Series B, Rev., AMT, 5.00%, 12/01/2029		1,440		1,531
New Jersey Higher Education Student Assistance Authority, Senior,
Series 2015-1A, Rev., AMT, 4.00%, 12/01/2030		755		740
Series A, Rev., AMT, 3.50%, 12/01/2039		100		94
Series B, Rev., AMT, 4.00%, 12/01/2041		250		243
Series B, Rev., AMT, 4.00%, 12/01/2044		2,200		2,150
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, Subordinated, Series C, Rev., AMT, 4.00%, 12/01/2048		1,195		1,093
New Jersey Housing & Mortgage Finance Agency, Series E, Rev., 3.50%, 04/01/2051		2,165		2,121
New Jersey Housing & Mortgage Finance Agency, New Irvine Turner Apartments, Rev., HUD, 3.67%, 02/01/2026		550		547
New Jersey Housing & Mortgage Finance Agency, Social Bond, Rev., 5.00%, 10/01/2053		195		200
New Jersey Housing & Mortgage Finance Agency, Social Bonds, Series H, Rev., 3.00%, 10/01/2052		770		738

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Transportation Trust Fund Authority,
Series A, Rev., 5.00%, 06/15/2029		1,550		1,704
Series A, Rev., 5.00%, 06/15/2030		3,000		3,355
Series AA, Rev., 4.00%, 06/15/2040		3,750		3,797
Series AA, Rev., 5.00%, 06/15/2029		1,000		1,099
Series AA, Rev., 5.00%, 06/15/2035		3,000		3,427
Series AA, Rev., 5.00%, 06/15/2045		660		702
Series BB, Rev., 5.00%, 06/15/2032		2,000		2,168
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Series A, Rev., BAM, Zero Coupon, 12/15/2038		1,000		575
New Jersey Transportation Trust Fund Authority, Program B,
Rev., 5.00%, 06/15/2037		2,000		2,272
Rev., 5.25%, 06/15/2046		14,455		15,870
New Jersey Transportation Trust Fund Authority, Transportation Program,
Series BB, Rev., 5.00%, 06/15/2036		3,000		3,473
Series BB, Rev., 5.00%, 06/15/2037		2,745		3,155
Series BB, Rev., 5.00%, 06/15/2038		4,000		4,564
Series BB, Rev., 5.00%, 06/15/2040		8,120		9,139
New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Rev., 5.00%, 06/15/2035		500		568
New Jersey Transportation Trust Fund Authority, Transportation System, Series A, Rev., 5.00%, 06/15/2038		500		567
New Jersey Transportation Trust Fund Authority, Transportation System Bond,
Rev., 4.00%, 12/15/2039		2,000		2,026
Rev., 5.00%, 12/15/2028		1,000		1,089
Rev., 5.00%, 12/15/2031		1,560		1,726
New Jersey Turnpike Authority,
Series A, Rev., 4.00%, 01/01/2042		1,000		1,016
Series B, Rev., 4.50%, 01/01/2048		1,750		1,804
Series D, Rev., 5.00%, 01/01/2028		2,400		2,489
Series E, Rev., 5.00%, 01/01/2032		7,000		7,091
Newark Board of Education, Sustainability Bonds,
GO, BAM, 4.00%, 07/15/2034		400		417
GO, BAM, 4.00%, 07/15/2035		410		427
GO, BAM, 4.00%, 07/15/2036		425		439
GO, BAM, 4.00%, 07/15/2037		430		441
North Hudson Sewerage Authority, Senior Lien Lease Certificates,
Rev., AGM, 5.00%, 06/01/2039		1,100		1,258
Rev., AGM, 5.00%, 06/01/2040		1,100		1,250
Rev., AGM, 5.00%, 06/01/2041		1,000		1,141
Rev., AGM, 5.00%, 06/01/2042		1,000		1,146
Rutgers, The State University of New Jersey, Series G, Rev., VRDO, 4.54%, 04/01/2024 (z)		4,375		4,375
South Jersey Port Corp., Marine Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2025		500		502
Series B, Rev., AMT, 5.00%, 01/01/2026		1,015		1,035
South Jersey Port Corp., Marine Terminal, Subordinated, Series B, Rev., AMT, 5.00%, 01/01/2037		1,000		1,043
South Jersey Port Corp., Subordinate Marine Term, Series B, Rev., AMT, 5.00%, 01/01/2032		2,140		2,251

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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., Subordinate, Marine Terminal,
Series B, Rev., AMT, 5.00%, 01/01/2033		1,220		1,284
Series B, Rev., AMT, 5.00%, 01/01/2034		1,250		1,315
Series B, Rev., AMT, 5.00%, 01/01/2036		1,000		1,048
South Jersey Transportation Authority,
Series A, Rev., AGM, 5.00%, 11/01/2030		500		547
Series A, Rev., AGM, 5.00%, 11/01/2033		1,215		1,331
Series A, Rev., BAM, 5.00%, 11/01/2041		2,925		3,133
South Jersey Transportation Authority, Transportation System, Rev., BAM, 5.25%, 11/01/2052		3,100		3,360
State of New Jersey, Covid-19 Emergency Bonds, General Obligations,
Series A, GO, 4.00%, 06/01/2030		2,000		2,143
Series A, GO, 5.00%, 06/01/2028		4,245		4,603
The Gloucester County Improvement Authority, Rowan University Project, Rev., BAM, 5.00%, 07/01/2044		900		981
				222,178
New Mexico — 0.2%
Albuquerque Municipal School District No. 12, Series A, GO, 5.00%, 08/01/2024		250		251
City of Farmington, Four Corners Project, Rev., 1.80%, 04/01/2029		3,000		2,655
City of Farmington, Pollution Control Revenue, Public Service Company, New Mexico Sanitary, Series E, Rev., 1.15%, 06/01/2040 (z)		1,000		994
City of Farmington, Public Service Company, San Juan, Rev., 3.90%, 06/01/2040 (z)		1,000		998
City of Farmington, San Juan and Four Corners, Rev., 2.15%, 04/01/2033		4,890		3,980
New Mexico Educational Assistance Foundation, Series 1A, Rev., AMT, 2.05%, 09/01/2051		500		443
New Mexico Finance Authority, Senior Lien Public Project, Series C, Rev., 4.00%, 06/01/2028		1,070		1,092
New Mexico Finance Authority, Subordinated Lien, Public Project Revolving Fund, Rev., 5.00%, 06/15/2024		1,000		1,002
New Mexico Hospital Equipment Loan Council,
Rev., 5.00%, 06/01/2030		1,050		1,128
Rev., 5.00%, 06/01/2032		1,000		1,063
New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare, Rev., 4.00%, 08/01/2037		500		504
New Mexico Mortgage Finance Authority, Series A, Rev., GNMA/FNMA/FHLMC, 3.00%, 01/01/2052		1,115		1,075
New Mexico Mortgage Finance Authority, Single Family Mortgage Program,
Rev., GNMA/FNMA/FHLMC COLL, 5.75%, 03/01/2054		610		655
Series C, Rev., GNMA/FNMA/FHLMC, 4.00%, 01/01/2049		145		144
New Mexico Municipal Energy Acquisition Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 11/01/2039 (z)		3,500		3,543
Santa Fe Public School District, GO, 5.00%, 08/01/2029		1,375		1,489
Winrock Town Center Tax Increment Development District No 1, Senior Lien, Tax Allocation, 4.25%, 05/01/2040 (e)		1,750		1,633
				22,649
New York — 12.5%
Battery Park City Authority, Series B, Rev., 5.00%, 11/01/2036		2,000		2,372
Broome County, Local Development Corp., United Health Services Hospital,
Rev., AGM, 4.00%, 04/01/2039		2,750		2,743
Rev., AGM, 5.00%, 04/01/2026		500		513
Build NYC Resource Corp., Rev., 5.00%, 07/01/2026		325		329

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Build C Resource Corp., Family Life Academy Charter Project, Rev., 7.25%, 06/01/2055		70		70
Build NYC Resource Corp., Family Life Academy Charter, Series A1, Rev., 5.25%, 06/01/2040 (e)		1,220		1,179
Build NYC Resource Corp., Family Life Academy Charter Project, Rev., 7.25%, 06/01/2055 (e)		250		267
Build NYC Resource Corp., Friends of Hellenic Classical, Series A, Rev., 4.00%, 12/01/2031 (e)		700		657
Build NYC Resource Corp., Grand Concourse Academy Charter School,
Rev., 5.00%, 07/01/2042		555		565
Rev., 5.00%, 07/01/2052		700		701
City of Long Beach,
Series A, GO, 5.00%, 09/01/2025		1,990		2,017
Series A, GO, 5.00%, 09/01/2027		1,500		1,554
City of New York,
Series 1I, GO, 5.00%, 03/01/2026		360		360
Series A1, GO, 4.00%, 08/01/2034		3,000		3,183
Series A1, GO, 4.00%, 08/01/2036		1,000		1,052
Series A1, GO, 5.00%, 08/01/2029		2,900		3,214
Series A1, GO, 5.00%, 09/01/2034		2,000		2,323
Series A1, GO, 5.00%, 08/01/2041		3,000		3,219
Series A1, GO, 5.25%, 09/01/2042		8,715		9,822
Series B1, GO, 5.00%, 08/01/2031		1,000		1,146
Series B1, GO, 5.00%, 10/01/2031		500		575
Series B1, GO, 5.00%, 08/01/2035		90		104
Series C1, GO, 5.00%, 08/01/2031		500		564
Series C4, GO, AGM, 5.00%, 10/01/2027		5,000		5,361
Series C, GO, 5.00%, 08/01/2027		2,000		2,134
Series C, GO, 5.00%, 03/01/2042		1,340		1,505
Series C, GO, 5.25%, 03/01/2053		30,140		33,104
Series D1, GO, 5.00%, 12/01/2024		150		152
Series D1, GO, 5.00%, 12/01/2031		1,380		1,509
Series D1, GO, 5.00%, 12/01/2036		11,955		12,923
Series D1, GO, 5.00%, 12/01/2044		2,560		2,705
Series E, GO, 5.00%, 08/01/2028		1,625		1,770
Series E, GO, 5.00%, 08/01/2033		2,000		2,200
Series F1, GO, 3.00%, 03/01/2035		2,135		2,051
Series F1, GO, 5.00%, 03/01/2043		1,000		1,083
City of New York, Fiscal 2001,
Series 2, GO, VRDO, 4.45%, 04/04/2024 (z)		7,045		7,045
Series 3, GO, VRDO, 4.45%, 04/04/2024 (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		5,431
City of New York, Fiscal 2021,
Series C, GO, 4.00%, 08/01/2037		450		466
Series C, GO, 5.00%, 08/01/2033		2,000		2,254
Series C, GO, 5.00%, 08/01/2035		4,740		5,305
City of New York, Fiscal 2022,
GO, 5.25%, 05/01/2039		200		230
GO, 5.25%, 05/01/2041		2,000		2,261
GO, 5.50%, 05/01/2044		1,000		1,130
City of New York, Fiscal 2022 Subordinated, Series D3, GO, VRDO, 4.63%, 04/01/2024 (z)		17,000		17,000

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 2023, Series A3, GO, VRDO, 4.50%, 04/01/2024 (z)		12,900		12,900
City of New York, Fiscal 2024, Series A, GO, 5.00%, 08/01/2028		360		392
City of New York, Subordinated,
Series E1, GO, 4.00%, 04/01/2050		8,500		8,241
Series F1, GO, 5.00%, 08/01/2025		390		399
Series F1, GO, 5.00%, 08/01/2027		1,750		1,867
Series F1, GO, 5.00%, 08/01/2028		350		382
City of Yonkers,
Series F, GO, BAM, 5.00%, 11/15/2038		500		563
Series F, GO, BAM, 5.00%, 11/15/2039		1,000		1,123
County of Nassau,
Series A, GO, AGM, 4.00%, 04/01/2046		1,300		1,263
Series B, GO, BAM, 5.00%, 10/01/2027		1,450		1,518
Dutchess County, Local Development Corp., Health Quest System, Inc. Project, Series B, Rev., 5.00%, 07/01/2046		1,250		1,254
Genesee County Funding Corp. (The), Rochester Regional Health Obligation, Rev., 5.25%, 12/01/2052		2,000		2,083
Hempstead Town Local Development Corp., Evergreen Charter School Project, Series A, Rev., 5.25%, 06/15/2042		4,000		4,058
Hudson Yards Infrastructure Corp.,
Series A, Rev., AGM, 4.00%, 02/15/2047		9,335		9,069
Series A, Rev., 5.00%, 02/15/2045		2,210		2,288
Long Island Power Authority,
Rev., 5.00%, 09/01/2042		2,070		2,159
Series A, Rev., 5.00%, 09/01/2037		1,250		1,400
Series A, Rev., 5.00%, 09/01/2044		1,000		1,003
Series B, Rev., 1.50%, 09/01/2051 (z)		5,700		5,355
Long Island Power Authority, Green Bond, Series E, Rev., 5.00%, 09/01/2048		2,440		2,695
Long Island Power Authority, Notes, Rev., 1.00%, 09/01/2025		2,680		2,550
Metropolitan Transportation Authority,
Rev., AGM, (United States SOFR * 0.67 + 0.80%), 4.36%, 11/01/2032 (aa)		430		429
Series A1, Rev., 5.00%, 11/15/2044		900		902
Series A, Rev., 5.25%, 11/15/2030		3,025		3,195
Series A, Rev., 5.25%, 11/15/2034		8,000		8,398
Series B, Rev., 5.00%, 11/15/2024		340		343
Series B, Rev., 5.00%, 11/15/2025		540		555
Series B, Rev., 5.00%, 11/15/2040		2,450		2,471
Series C1, Rev., 5.00%, 11/15/2056		3,100		3,133
Series D, Rev., 5.00%, 11/15/2027		1,200		1,252
Metropolitan Transportation Authority, Build America Bonds, Rev., 6.67%, 11/15/2039		2,500		2,750
Metropolitan Transportation Authority, Green Bond,
Series A1, Rev., AGM, 4.00%, 11/15/2054		2,000		1,866
Series A2, Rev., 5.00%, 11/15/2027		1,085		1,132
Series C2, Rev., Zero Coupon, 11/15/2032		500		369
Series C, Rev., 5.00%, 11/15/2040		2,465		2,612
Series D, Rev., 5.00%, 11/15/2034 (z)		5,000		5,015
Series E, Rev., 4.00%, 11/15/2045		60		57
Series E, Rev., 5.00%, 11/15/2029		250		276
Metropolitan Transportation Authority, Green Bonds,
Series A2, Rev., 5.00%, 11/15/2025		1,000		1,027
Series B1, Rev., 5.00%, 11/15/2046		2,000		2,041

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 D1, Rev., 5.00%, 11/15/2043		2,000		2,129
Series D3, Rev., 4.00%, 11/15/2049		1,000		939
Metropolitan Transportation Authority, Green Bonds, Subordinated, Series B1, Rev., 5.00%, 11/15/2036		10,000		10,393
Metropolitan Transportation Authority, Sustainable Bond,
Series A, Rev., 5.25%, 11/15/2049		2,000		2,166
Series E, Rev., 5.00%, 11/15/2033		2,400		2,676
Metropolitan Transportation Authority, Transportation, Series B, Rev., 5.25%, 11/15/2037		4,795		4,810
Metropolitan Transportation Authority, Transportation Green Bonds, Series B, Rev., 5.00%, 11/15/2026		1,720		1,798
Monroe County Industrial Development Corp., Andrews Terrace Community, Rev., HUD, 5.00%, 07/01/2028 (z)		3,915		4,042
Monroe County Industrial Development Corp., Rochester Regional Health Project,
Rev., 5.00%, 12/01/2027		1,000		1,034
Rev., 5.00%, 12/01/2028		1,700		1,779
Rev., 5.00%, 12/01/2029		1,900		2,003
Monroe County Industrial Development Corp., University of Rochester Project, Series A, Rev., 5.00%, 07/01/2053		13,650		14,711
MTA Hudson Rail Yards Trust Obligations,
Series A, Rev., 5.00%, 11/15/2051		5,000		4,986
Series A, Rev., 5.00%, 11/15/2056		2,000		1,979
New York City Health and Hospitals Corp.,
Series A, Rev., 5.00%, 02/15/2026		6,055		6,255
Series A, Rev., 5.00%, 02/15/2027		5,360		5,673
Series A, Rev., 5.00%, 02/15/2029		2,485		2,748
New York City Housing Development Corp., Sustainability Bonds,
Rev., 0.70%, 11/01/2060 (z)		2,500		2,387
Series C2, Rev., 0.70%, 11/01/2060 (z)		1,790		1,698
New York City Housing Development Corp., Sustainable Bond, Series E2, Rev., 3.80%, 11/01/2063 (z)		1,300		1,297
New York City Housing Development Corp., Sustainable Development Bonds, Series D2, Rev., FHA, 0.70%, 05/01/2060 (z)		1,000		973
New York City Industrial Development Agency, Queens Baseball Stadium Project,
Rev., AGM, 3.00%, 01/01/2040		250		216
Series A, Rev., AGM, 4.00%, 01/01/2032		1,000		1,049
Series A, Rev., AGM, 5.00%, 01/01/2025		250		252
Series A, Rev., AGM, 5.00%, 01/01/2027		625		654
Series A, Rev., AGM, 5.00%, 01/01/2029		1,000		1,084
Series A, Rev., AGM, 5.00%, 01/01/2030		1,500		1,655
New York City Industrial Development Agency, Yankee Stadium Project Pilot,
Rev., AGM, 4.00%, 03/01/2045		8,825		8,548
Rev., AGM, 5.00%, 03/01/2028		1,250		1,338
Rev., AGM, 5.00%, 03/01/2029		1,500		1,635
Rev., AGM, 5.00%, 03/01/2030		3,900		4,327
New York City Municipal Water Finance Authority,
Series CC1, Rev., 4.00%, 06/15/2052		5,000		4,839
Series DD, Rev., 5.00%, 06/15/2034		1,920		2,307
New York City Municipal Water Finance Authority, Second General Resolution,
Rev., 4.00%, 06/15/2051		6,205		6,022
Rev., VRDO, 4.50%, 04/01/2024 (z)		15,700		15,700
Rev., VRDO, 4.53%, 04/01/2024 (z)		8,000		8,000

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Rev., 5.00%, 06/15/2044		2,755		3,062
Rev., 5.25%, 06/15/2054		9,605		10,589
Series BB, Rev., VRDO, 4.60%, 04/01/2024 (z)		10,000		10,000
Series CC1, Rev., 5.00%, 06/15/2049		5,000		5,298
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		17,992
New York City Transitional Finance Authority Building Aid Revenue, Fiscal Year 2015, Series S1, Rev., 5.00%, 07/15/2035		585		591
New York City Transitional Finance Authority Building Aid Revenue, Subordinate,
Series S1, Rev., 4.00%, 07/15/2034		1,000		1,061
Series S1, Rev., 5.00%, 07/15/2031		1,590		1,849
Series S1, Rev., 5.00%, 07/15/2043		1,505		1,525
New York City Transitional Finance Authority Building Aid Revenue, Subordinate Fiscal 2015, Series S, Rev., 5.00%, 07/15/2028		2,060		2,084
New York City Transitional Finance Authority Future Tax Secured, Rev., 5.00%, 08/01/2029		1,000		1,114
New York City Transitional Finance Authority Future Tax Secured Revenue,
Rev., 5.00%, 11/01/2028		600		659
Series A1, Rev., 5.00%, 11/01/2031		1,725		2,004
Series A4, Rev., VRDO, 4.45%, 04/01/2024 (z)		11,200		11,200
Series E1, Rev., 3.00%, 02/01/2028		730		731
Series F1, Rev., 5.00%, 02/01/2039		3,000		3,376
Series F1, Rev., 5.00%, 02/01/2041		2,000		2,269
Series F1, Rev., 5.00%, 02/01/2045		5,000		5,505
Series F1, Rev., 5.00%, 02/01/2046		3,335		3,651
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured, Rev., 4.00%, 11/01/2035		7,000		7,371
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Secured Subordinate, Series B1, Rev., 5.00%, 08/01/2038		1,000		1,032
New York City Transitional Finance Authority Future Tax Secured Revenue, Future Tax Subordinated, Series A3, Rev., 4.00%, 08/01/2042		2,500		2,478
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate,
Rev., 4.00%, 05/01/2038		2,000		2,057
Rev., 5.00%, 11/01/2025		255		263
Series B1, Rev., 4.00%, 08/01/2036		7,415		7,798
Series DS, Rev., 4.00%, 11/01/2038		4,000		4,104
Series E1, Rev., 4.00%, 02/01/2046		2,000		1,953
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate Future Tax Secured, Rev., 4.00%, 11/01/2040		5,000		5,032
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate Multi Modal, Series A, Rev., 5.00%, 05/01/2040		1,000		1,132
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate, Future Tax Secured, Rev., 3.75%, 11/01/2025		8,000		7,852
New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinated,
Rev., 5.00%, 11/01/2026		1,000		1,051
Rev., 5.00%, 05/01/2031		1,000		1,145
Rev., 5.25%, 08/01/2042		3,000		3,392
Series A3, Rev., 4.00%, 05/01/2042		2,000		2,003
Series A3, Rev., 5.00%, 08/01/2040		1,720		1,805
New York City Transitional Finance Authority Future Tax Secured Revenue, Taxable Subordinate, Series F2, Rev., 2.85%, 05/01/2025		6,600		6,442

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, Multi Modal Bonds Subordinate, Rev., 5.00%, 05/01/2039		1,500		1,722
New York City Transitional Finance Authority, Subordinate,
Series D1, Rev., 5.00%, 11/01/2034		4,410		5,254
Series D1, Rev., 5.00%, 11/01/2037		715		832
Series D1, Rev., 5.00%, 11/01/2039		3,000		3,464
New York City Trust for Cultural Resources, Refunding Lincoln Center, Series A, Rev., 5.00%, 12/01/2032		500		560
New York City Water & Sewer System,
Series AA2, Rev., 5.00%, 06/15/2029		1,350		1,505
Series BB1, Rev., 5.00%, 06/15/2049		500		530
Series FF, Rev., 5.00%, 06/15/2041		2,000		2,179
Series GG1, Rev., 5.00%, 06/15/2030		1,000		1,140
Series GG, Rev., 5.00%, 06/15/2039		2,660		2,693
New York City Water & Sewer System, Second General Resolution,
Rev., 5.00%, 06/15/2026		1,005		1,050
Rev., 5.00%, 06/15/2029		535		597
Series CC1, Rev., 5.00%, 06/15/2048		2,730		2,834
Series CC1, Rev., 5.25%, 06/15/2037		2,345		2,457
Series DD1, Rev., 5.00%, 06/15/2048		3,115		3,256
Series DD2, Rev., 5.00%, 06/15/2040		2,000		2,116
Series DD, Rev., 5.00%, 06/15/2047		6,680		6,896
New York City Water & Sewer System, Various Second General Resolution, Series BB4, Rev., VRDO, 4.45%, 04/01/2024 (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		1,186
New York Liberty Development Corp.,
Series 1WTC, Rev., 3.00%, 02/15/2042		1,755		1,501
Series 1WTC, Rev., 4.00%, 02/15/2043		1,000		994
New York Liberty Development Corp., 3 World Trade Center, Rev., 5.38%, 11/15/2040 (e)		1,945		1,951
New York Liberty Development Corp., 7 World Trade Center Project, Rev., 3.13%, 09/15/2050		3,000		2,365
New York Liberty Development Corp., World Trade Center Project, Series 1, Rev., 5.00%, 11/15/2044 (e)		19,900		19,906
New York Power Authority, Green Transmission Project,
Rev., AGM, 4.00%, 11/15/2036		145		152
Rev., AGM, 5.00%, 11/15/2028		1,000		1,105
Rev., AGM, 5.00%, 11/15/2034		635		739
Rev., AGM, 5.00%, 11/15/2035		1,250		1,448
New York State Dormitory Authority,
Series A1, Rev., 5.00%, 03/15/2036		2,500		2,939
Series A, Rev., 4.00%, 03/15/2039		1,000		1,021
Series A, Rev., 4.00%, 03/15/2054		7,090		6,795
Series A, Rev., 5.00%, 03/15/2029		3,000		3,307
Series A, Rev., 5.00%, 03/15/2034		2,000		2,074
Series A, Rev., 5.00%, 03/15/2036		1,765		2,086
Series A, Rev., 5.00%, 03/15/2040		1,000		1,077
Series A, Rev., 5.00%, 03/15/2044		3,975		4,358
Series C, Rev., 5.00%, 03/15/2044		2,080		2,085
New York State Dormitory Authority, Bidding Group 1, Series E, Rev., 5.00%, 03/15/2029		3,000		3,307
New York State Dormitory Authority, Cornell University, Series A, Rev., 5.00%, 07/01/2031		1,000		1,165

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, Exchange Bonds, Series C, Rev., 5.00%, 07/01/2031		1,227		1,413
New York State Dormitory Authority, General Purpose, Series D, Rev., 5.00%, 02/15/2026 (p)		95		98
New York State Dormitory Authority, Green Bond, Cornell University, Rev., 5.00%, 07/01/2034		1,100		1,340
New York State Dormitory Authority, Group 2,
Series A, Rev., 5.00%, 03/15/2033		2,000		2,268
Series A, Rev., 5.00%, 03/15/2036		2,015		2,211
New York State Dormitory Authority, Group 3, Series A, Rev., 5.00%, 03/15/2037		5,000		5,455
New York State Dormitory Authority, Montefiore Obligated Group,
Series A, Rev., 5.00%, 08/01/2025		1,000		999
Series A, Rev., 5.00%, 08/01/2026		900		911
Series A, Rev., 5.00%, 08/01/2031		1,010		1,047
New York State Dormitory Authority, Northwell Health Obligated Group,
Rev., 4.00%, 05/01/2045		6,500		6,227
Rev., 4.25%, 05/01/2052		4,930		4,779
Rev., 5.00%, 05/01/2052		3,000		3,167
New York State Dormitory Authority, Refunded General Purpose, Series B, Rev., 5.00%, 02/15/2026 (p)		2,835		2,934
New York State Dormitory Authority, Second Bond Financing Program,
Rev., AGM, 5.00%, 10/01/2029		3,000		3,359
Rev., AGM, 5.00%, 10/01/2030		4,000		4,570
Rev., AGM, 5.00%, 10/01/2036		260		296
New York State Dormitory Authority, St John’s University, Series A, Rev., 4.00%, 07/01/2048		1,000		955
New York State Dormitory Authority, Unrefunded General Purpose, Series D, Rev., 5.00%, 02/15/2026		5		5
New York State Dormitory Authority, Unrefunded Group 2, Series E, Rev., 5.00%, 03/15/2028		1,000		1,084
New York State Dormitory Authority, Yeshiva University, Series A, Rev., 5.00%, 07/15/2037		2,500		2,639
New York State Environmental Facilities Corp., Green Bond 2010 Master Financing Project,
Rev., 5.00%, 09/15/2028		575		632
Rev., 5.00%, 09/15/2031		250		291
New York State Environmental Facilities Corp., Municipal Water, Subordinated, Rev., 5.00%, 06/15/2042		2,655		2,797
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		243
New York State Environmental Facilities Corp., Waste Management, Inc., Rev., AMT, 4.10%, 05/01/2030 (z)		2,500		2,499
New York State Housing Finance Agency, Sustainability Bonds,
Series B, Rev., HUD, SONYMA, 3.60%, 11/01/2062 (z)		1,705		1,698
Series I, Rev., SONYMA, 0.70%, 11/01/2056 (z)		2,375		2,232
Series J, Rev., HUD, SONYMA, 1.10%, 11/01/2061 (z)		4,170		3,758
Series K2, Rev., HUD, SONYMA, 1.00%, 11/01/2061 (z)		2,320		2,122
Series K, Rev., SONYMA, 0.70%, 11/01/2024		1,085		1,053
New York State Thruway Authority,
Series A1, Rev., 4.00%, 03/15/2041		500		503
Series A1, Rev., 5.00%, 03/15/2033		1,000		1,147
Series A, Rev., 5.00%, 03/15/2027 (p)		1,000		1,059
New York State Thruway Authority, Group 2, Series N, Rev., 4.00%, 01/01/2041		3,120		3,153
New York State Urban Development Corp., Series A, Rev., 4.00%, 03/15/2042		2,000		2,001
New York State Urban Development Corp., Bidding Group 1, Series A, Rev., 5.00%, 03/15/2034		1,690		1,954

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Urban Development Corp., Bidding Group 4, Series A, Rev., 3.00%, 03/15/2050		4,000		3,102
New York State Urban Development Corp., Group 2, Series E, Rev., 4.00%, 03/15/2038		1,000		1,027
New York State Urban Development Corp., Personal Income Tax,
Rev., 4.00%, 03/15/2037		2,000		2,075
Rev., 4.00%, 03/15/2041		5,000		5,027
Rev., 5.00%, 03/15/2030		500		566
Series C3, Rev., 5.00%, 03/15/2038		1,860		1,949
New York State Urban Development Corp., State Personal Income Tax,
Rev., 4.00%, 03/15/2042		2,000		1,997
Series AG, Rev., 5.00%, 03/15/2038		5,000		5,199
New York State Urban Development Corp., State Personal Income Tax, General Purpose,
Series A, Rev., 5.00%, 03/15/2042		5,000		5,306
Series B, Rev., 3.54%, 03/15/2028 (p)		7,000		6,744
New York State Urban Development Corp., Sustainable Bond State Person, Rev., 5.00%, 03/15/2063		15,000		15,992
New York Transportation Development Corp., American Airlines, Inc,
Rev., AMT, 2.25%, 08/01/2026		585		566
Rev., AMT, 5.00%, 08/01/2026		5,375		5,377
New York Transportation Development Corp., Delta Air Lines, Inc, LaGuardia,
Rev., AMT, 4.38%, 10/01/2045		8,130		8,013
Rev., AMT, 5.00%, 01/01/2032		3,000		3,110
New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia, Rev., AMT, 5.00%, 10/01/2035		11,000		11,660
New York Transportation Development Corp., John F. Kennedy International Airport, Rev., AMT, 5.38%, 08/01/2036		2,000		2,111
New York Transportation Development Corp., LaGuardia Airport Terminal,
Rev., AMT, 5.63%, 04/01/2040		15,355		16,751
Rev., AMT, 6.00%, 04/01/2035		5,000		5,670
New York Transportation Development Corp., LaGuardia Airport Terminal B,
Rev., AMT, 4.00%, 07/01/2033		2,500		2,418
Rev., AMT, 5.00%, 07/01/2046		15,180		14,954
Rev., AMT, 5.25%, 01/01/2050		8,425		8,431
New York Transportation Development Corp., LaGuardia Airport Terminal B Redevelopment,
Rev., AMT, 4.00%, 07/01/2031		4,500		4,394
Rev., AGM, AMT, 4.00%, 07/01/2035		5,080		5,001
Rev., AMT, 5.00%, 07/01/2041		1,000		992
New York Transportation Development Corp., New York State Thruway, Rev., AMT, 4.00%, 10/31/2034		600		592
New York Transportation Development Corp., Sustainable Bond, JFK International Airport,
Rev., AGM, AMT, 5.00%, 06/30/2049		14,750		15,409
Rev., AGM, AMT, 5.50%, 06/30/2043		1,585		1,747
Rev., AMT, 6.00%, 06/30/2054		10,575		11,720
New York Transportation Development Corp., Terminal 4 JFK International,
Rev., AMT, 5.00%, 12/01/2030		1,710		1,858
Rev., AMT, 5.00%, 12/01/2032		2,005		2,221
Rev., AMT, 5.00%, 12/01/2033		1,000		1,085
Rev., AMT, 5.00%, 12/01/2037		3,500		3,792
Rev., AMT, 5.00%, 12/01/2038		1,000		1,077
New York Transportation Development Corp., Terminal 4 JFK International Airport, Rev., AMT, 5.00%, 12/01/2030		4,160		4,520

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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., Terminal 4 John F Kennedy International,
Rev., AMT, 4.00%, 12/01/2038		300		290
Rev., AMT, 4.00%, 12/01/2039		300		289
Rev., AMT, 4.00%, 12/01/2040		1,475		1,403
Rev., AMT, 4.00%, 12/01/2041		300		283
Rev., AMT, 4.00%, 12/01/2042		300		280
Rev., 5.00%, 12/01/2024		200		201
Rev., 5.00%, 12/01/2025		200		205
Rev., 5.00%, 12/01/2026		995		1,035
Rev., 5.00%, 12/01/2027		200		211
Rev., 5.00%, 12/01/2028		200		215
Rev., 5.00%, 12/01/2037		250		270
Rev., 5.00%, 12/01/2038		2,250		2,413
Port Authority of New York & New Jersey,
Series 207, Rev., AMT, 5.00%, 09/15/2027		2,210		2,319
Series 207, Rev., AMT, 5.00%, 09/15/2028		1,080		1,140
Series 207, Rev., AMT, 5.00%, 09/15/2031		5,000		5,283
Series 226, Rev., AMT, 5.00%, 10/15/2031		4,500		4,980
Series 226, Rev., AMT, 5.00%, 10/15/2032		1,250		1,388
Series 226, Rev., AMT, 5.00%, 10/15/2036		2,040		2,237
Series 242, Rev., AMT, 5.00%, 12/01/2042		7,000		7,565
Port Authority of New York & New Jersey, Consolidated,
Series 197, Rev., AMT, 5.00%, 11/15/2032		3,000		3,072
Series 206, Rev., AMT, 5.00%, 11/15/2032		3,000		3,148
Series 221, Rev., AMT, 5.00%, 07/15/2031		1,620		1,776
Series 221, Rev., AMT, 5.00%, 07/15/2032		1,500		1,644
Port Authority of New York & New Jersey, Consolidated 211, Rev., 4.00%, 09/01/2043		5,000		4,982
Port Authority of New York & New Jersey, Consolidated Bond 233, Rev., 5.00%, 08/01/2038		670		762
Port Authority of New York & New Jersey, Consolidated Bond Two, Rev., AMT, 5.50%, 08/01/2052		8,500		9,226
Port Authority of New York & New Jersey, Consolidated Bond Two Hund, Rev., AMT, 5.00%, 01/15/2039		1,250		1,361
Port Authority of New York & New Jersey, Consolidated Bonds,
Series 221, Rev., AMT, 4.00%, 07/15/2039		5,000		4,964
Series 221, Rev., AMT, 4.00%, 07/15/2040		3,715		3,680
Port Authority of New York & New Jersey, Consolidated One Hundred Eighty,
Rev., AMT, 5.00%, 09/01/2026		3,000		3,015
Series 222, Rev., 4.00%, 07/15/2036		10,250		10,765
State of New York Mortgage Agency Homeowner Mortgage Revenue, Social Bonds, Series 253, Rev., SONYMA, AMT, 4.70%, 10/01/2038		2,090		2,132
State of New York Mortgage Agency, Social Bonds, Series 233, Rev., 3.00%, 10/01/2045		2,140		2,068
State of New York Mortgage Agency, Social Bonds 242, Rev., SONYMA, 3.50%, 10/01/2052		105		103
Suffolk Regional Off-Track Betting Co., Rev., 6.00%, 12/01/2053 (w)		1,000		1,018
Triborough Bridge & Tunnel Authority,
Series A2, Rev., 2.00%, 05/15/2045 (z)		4,250		3,932
Series A, Rev., BAN, 5.00%, 08/15/2024		3,000		3,015
Series A, Rev., 5.00%, 11/15/2041		1,975		2,010
Series A, Rev., 5.00%, 11/15/2047		2,500		2,726
Series A, Rev., 5.00%, 11/15/2049		3,040		3,244

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Triborough Bridge & Tunnel Authority Sales Tax Revenue,
Series A1, Rev., 5.00%, 05/15/2049		2,600		2,841
Series A1, Rev., 5.00%, 05/15/2054		2,355		2,548
Series A1, Rev., 5.25%, 05/15/2059		14,710		16,179
Series A1, Rev., 5.25%, 05/15/2064		20,770		22,754
Series A2, Rev., 5.25%, 05/15/2064		24,000		26,105
Triborough Bridge & Tunnel Authority, Green Bond,
Series E1, Rev., 5.00%, 11/15/2027		1,155		1,238
Series E-2B, Rev., 5.00%, 11/15/2032		575		673
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Rev., 5.00%, 05/15/2047		5,250		5,679
Triborough Bridge & Tunnel Authority, MTA Bridges and Tunnels, Rev., 5.00%, 11/15/2026		2,440		2,568
Triborough Bridge & Tunnel Authority, MTA Bridges and Tunnels, Green Bonds, Rev., 5.00%, 11/15/2029		1,615		1,817
Triborough Bridge & Tunnel Authority, Senior, Series C, Rev., 5.00%, 05/15/2040		5,000		5,595
Triborough Bridge & Tunnel Authority, Senior Lien,
Rev., 5.00%, 05/15/2050 (z)		7,000		7,204
Series C, Rev., 5.25%, 05/15/2052		10,000		10,895
Series C1-A, Rev., 5.00%, 05/15/2038		2,000		2,257
Triborough Bridge & Tunnel Authority, Senior Lien MTA Bridges & Tunnels,
Rev., 5.00%, 05/15/2035		2,000		2,328
Rev., 5.00%, 05/15/2036		2,000		2,312
Rev., 5.00%, 05/15/2038		4,240		4,817
Troy Capital Resource Corp., Rensselaer Polytechnic Institute, Rev., 4.00%, 09/01/2036		750		760
TSASC, Inc., Series B, Rev., 5.00%, 06/01/2048		6,780		6,186
Utility Debt Securitization Authority,
Series 1, Rev., 5.00%, 12/15/2031		3,000		3,388
Series 1, Rev., 5.00%, 12/15/2039		1,000		1,178
Series 1, Rev., 5.00%, 12/15/2040		1,420		1,661
Utility Debt Securitization Authority, Restructuring Bonds,
Rev., 5.00%, 12/15/2033		1,500		1,543
Series TE, Rev., 5.00%, 12/15/2029		1,500		1,620
Westchester County Local Development Corp., Purchase Senior Learning, Rev., 2.88%, 07/01/2026 (e)		500		500
Westchester County Local Development Corp., Westchester Med. Ctr. Obligated,
Rev., AGM, 5.00%, 11/01/2047		5,610		5,979
Rev., AGM, 5.75%, 11/01/2048		1,400		1,626
Rev., AGM, 5.75%, 11/01/2049		2,000		2,317
Rev., 6.25%, 11/01/2052		420		479
Western Regional Off-Track Betting Corp., Rev., 3.00%, 12/01/2026 (e)		240		227
				1,128,411
North Carolina — 0.8%
Charlotte-Mecklenburg Hospital Authority, Atrium Health, Series B, Rev., 1.95%, 01/15/2048 (z)		2,285		2,050
Charlotte-Mecklenburg Hospital Authority, The Atrium Health, Series D, Rev., 3.63%, 01/15/2048 (z)		2,200		2,193
City of Charlotte Airport Revenue, Rev., 5.00%, 07/01/2040		2,375		2,693
City of Charlotte Airport Revenue, Airport, Series A, Rev., 4.00%, 07/01/2036		1,520		1,591
City of Charlotte Airport Revenue, Charlotte Douglas International, Rev., AMT, 5.00%, 07/01/2026		1,315		1,357
City of Charlotte Airport Special Facilities Revenue, Charlotte Douglas International,
Rev., 5.00%, 07/01/2049		5,000		5,281
Rev., AMT, 5.00%, 07/01/2049		5,000		5,157

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
City of Charlotte, Airport Special Facilities Revenue, Series B, Rev., AMT, 5.00%, 07/01/2027		1,315		1,382
County of Cumberland, Qualified School Construction Bonds, COP, 1.25%, 12/15/2025		4,000		3,764
Greater Asheville Regional Airport Authority,
Rev., AGM, AMT, 5.25%, 07/01/2040		500		555
Rev., AGM, AMT, 5.25%, 07/01/2041		415		459
Rev., AGM, AMT, 5.25%, 07/01/2048		1,750		1,889
North Carolina Department of Transportation, I-77 Hot Lanes Project, Rev., AMT, 5.00%, 06/30/2054		3,825		3,750
North Carolina Housing Finance Agency,
Series 37A, Rev., AMT, 3.50%, 07/01/2039		30		30
Series 44, Rev., 2.30%, 01/01/2031		1,030		926
Series 44, Rev., 4.00%, 07/01/2050		280		278
Series 45, Rev., GNMA/FNMA/FHLMC, 1.90%, 01/01/2032		1,525		1,290
North Carolina Housing Finance Agency, Home Ownership, Series 47, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 07/01/2051		845		816
North Carolina Housing Finance Agency, Sustainable Bond 1998 Trust Agency, Rev., GNMA/FNMA/FHLMC, 6.25%, 01/01/2055		2,125		2,333
North Carolina Housing Finance Agency, Sustainable Bonds 1998 Trust,
Rev., GNMA/FNMA/FHLMC, 4.90%, 07/01/2043		5,000		5,186
Rev., GNMA/FNMA/FHLMC, 6.25%, 01/01/2055		4,925		5,375
North Carolina Medical Care Commission, CaroMont Health, Series A, Rev., 4.00%, 02/01/2036		1,875		1,936
North Carolina Medical Care Commission, Lutheran Services for the Aging, Rev., 4.00%, 03/01/2041		1,050		886
North Carolina Medical Care Commission, Presbyterian Homes Obligations,
Series A, Rev., 4.00%, 10/01/2027		600		605
Series A, Rev., 4.00%, 10/01/2040		1,200		1,145
Series A, Rev., 4.00%, 10/01/2045		2,250		2,047
North Carolina Medical Care Commission, Rex Healthcare, Series A, Rev., 5.00%, 07/01/2031		1,760		1,928
North Carolina Medical Care Commission, The Forest at Duke Project, Rev., 4.00%, 09/01/2041		830		717
North Carolina Medical Care Commission, Vidant Health, Rev., 5.00%, 06/01/2045		1,145		1,154
North Carolina State Education Assistance Authority, Senior Bonds, Series A, Rev., AMT, 5.00%, 06/01/2043		1,260		1,280
North Carolina Turnpike Authority, Senior Lien, Rev., AGM, 5.00%, 01/01/2038		2,375		2,527
North Carolina Turnpike Authority, Triangle Expressway System, Rev., AGM, 5.00%, 01/01/2053		2,000		2,139
North Carolina Turnpike Authority, Triangle Expressway System, Senior Lien, Rev., AGM, 5.00%, 01/01/2049		1,000		1,047
Raleigh Durham Airport Authority, Series A, Rev., AMT, 5.00%, 05/01/2032		505		527
State of North Carolina, Build Nc Programs, Series B, Rev., 5.00%, 05/01/2027		2,750		2,924
State of North Carolina, Grant Anticipation Revenue, Rev., 5.00%, 03/01/2029		1,000		1,104
Town of Fuquay-Varina Combined Utilities Revenue, Series A, Rev., 4.00%, 02/01/2049		3,250		3,182
Western Carolina University, Series B, Rev., 5.00%, 04/01/2031		2,120		2,368
				75,871
North Dakota — 0.4%
Cass County Joint Water Resource District,
Series A, GO, 0.48%, 05/01/2024		3,635		3,625
Series A, GO, 3.45%, 04/01/2027 (w)		12,250		12,247
City of Grand Forks, Altru Health System,
Rev., 5.00%, 12/01/2031		1,500		1,569

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Dakota — continued
Series A, Rev., AGM, 5.00%, 12/01/2041		1,000		1,083
County of Ward, Trinity Obligation Group, Series C, Rev., 5.00%, 06/01/2043		2,500		2,164
North Dakota Housing Finance Agency,
Series B, Rev., 3.00%, 07/01/2051		1,705		1,650
Series C, Rev., 4.00%, 01/01/2050		630		625
North Dakota Housing Finance Agency, Home Mortgage Financing Program, Series A, Rev., 3.00%, 01/01/2052		40		39
North Dakota Housing Finance Agency, Housing Finance Program, Home Mortgage Finance, Series D, Rev., 4.25%, 01/01/2049		2,075		2,066
North Dakota Housing Finance Agency, Social Bonds, Series B, Rev., 3.00%, 07/01/2052		955		917
North Dakota Housing Finance Agency, Social Bonds Home Mortgage Finance Program, Rev., 5.75%, 01/01/2054		500		533
North Dakota Housing Finance Agency, Social Bonds Home Mortgage Financing, Rev., 5.75%, 07/01/2053		1,305		1,381
North Dakota Housing Finance Agency, Sustainable Bonds Home Mortgage, Rev., 6.25%, 01/01/2054		3,750		4,097
University of North Dakota, Series A, COP, AGM, 4.00%, 06/01/2046		1,480		1,410
West Fargo Public School District No. 6, Series C, GO, 4.00%, 08/01/2026		300		306
				33,712
Ohio — 1.9%
Akron Bath Copley Joint Township Hospital District, Rev., 5.25%, 11/15/2046		6,275		6,382
Akron Bath Copley Joint Township Hospital District, Children’s Hospital Medical, Rev., 4.00%, 11/15/2042		1,265		1,235
Akron Bath Copley Joint Township Hospital District, Summa Health Obligations,
Rev., 4.00%, 11/15/2034		500		493
Rev., 4.00%, 11/15/2035		1,000		973
Rev., 4.00%, 11/15/2038		750		701
American Municipal Power, Inc., Fremont Energy Center Project,
Rev., 4.00%, 02/15/2036		1,750		1,829
Rev., 5.00%, 02/15/2026		600		617
American Municipal Power, Inc., Prairie State Energy Campus, Rev., 5.00%, 02/15/2026		2,500		2,573
Buckeye Tobacco Settlement Financing Authority, Series B2, Rev., 5.00%, 06/01/2055		13,690		12,946
Buckeye Tobacco Settlement Financing Authority, Senior, Series A2, Rev., 4.00%, 06/01/2048		2,210		2,051
City of Cincinnati, Mercer Commons Phase 2 Project, Rev., 5.00%, 11/01/2035		1,085		1,107
Columbus-Franklin County Finance Authority, Bridge Park D Block Project, Series A, Rev., 5.00%, 12/01/2051		1,750		1,696
Columbus-Franklin County Finance Authority, Dering Family Homes Project, Rev., 5.00%, 07/01/2045 (z)		2,200		2,259
County of Allen, Hospital Facilities Revenue, Series A, Rev., 5.00%, 08/01/2027		50		53
County of Butler, UC Health, Rev., 5.00%, 11/15/2030		1,300		1,330
County of Franklin, Che Trinity Health Credit Group, Rev., 3.70%, 12/01/2046 (z)		2,500		2,499
County of Franklin, Nationwide Children’s Hospital,
Rev., 4.00%, 11/01/2040		2,000		1,992
Rev., 5.00%, 11/01/2031		1,000		1,144
County of Hamilton, Trihealth, Inc. Obligated Group, Rev., 5.00%, 08/15/2040		1,510		1,593
County of Miami, Improvement, Kettering Health Network, Rev., 5.00%, 08/01/2049		2,000		2,036
County of Montgomery, Dayton Children’s Hospital,
Rev., 5.00%, 08/01/2027		725		763
Rev., 5.00%, 08/01/2029		145		158
Rev., 5.00%, 08/01/2033		230		257

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
County of Montgomery, Kettering Health Network Obligations, Rev., 4.00%, 08/01/2041		1,200		1,188
County of Van Wert, Van Wert Health Obligated, Rev., 6.13%, 12/01/2049 (p)		1,900		2,164
Franklin County Convention Facilities Authority, Greater Columbus Convention Center, Rev., 5.00%, 12/01/2044		1,000		988
Hamilton City School District, Various Purpose, GO, 5.00%, 12/01/2034 (p)		1,500		1,514
Jefferson County Port Authority, JSW Steel USA Ohio, Rev., AMT, 5.00%, 12/01/2053 (e) (z)		5,835		5,932
Lancaster Port Authority, Series A, Rev., LIQ: Royal Bank of Canada, 5.00%, 08/01/2049 (z)		5,000		5,044
Miami University,
Series A, Rev., 5.00%, 09/01/2028		515		560
Series A, Rev., 5.00%, 09/01/2030		1,005		1,135
Northeast Ohio Medical University, Rev., BAM, 5.00%, 12/01/2043		1,475		1,553
Ohio Air Quality Development Authority, American Electric Power Co. Project, Rev., AMT, 2.50%, 08/01/2040 (z)		2,500		2,203
Ohio Air Quality Development Authority, American Electric Power Company,
Rev., 1.90%, 05/01/2026 (z)		5,000		4,903
Series A, Rev., AMT, 2.10%, 01/01/2029 (z)		1,250		1,227
Ohio Air Quality Development Authority, AMG Vanadium Project, Rev., AMT, 5.00%, 07/01/2049 (e)		4,565		4,174
Ohio Air Quality Development Authority, Dayton Power & Light, Rev., AMT, 4.25%, 11/01/2040 (z)		7,000		6,965
Ohio Air Quality Development Authority, Duke Energy, Rev., AMT, 4.25%, 11/01/2039 (z)		7,205		7,275
Ohio Air Quality Development Authority, Ohio Valley Electric Corp., Rev., AMT, 2.50%, 11/01/2042 (z)		1,000		881
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project,
Rev., 1.38%, 02/01/2026 (z)		1,875		1,827
Rev., 1.50%, 02/01/2026 (z)		120		112
Ohio Higher Educational Facility Commission, Case Western Reserve, Rev., (SIFMA Municipal Swap Index + 0.23%), 3.87%, 12/01/2042 (aa)		155		152
Ohio Higher Educational Facility Commission, Case Western Reserve University, Rev., 5.00%, 12/01/2040		1,065		1,102
Ohio Higher Educational Facility Commission, Senior University Circle, Inc., Rev., 5.00%, 01/15/2050		1,000		1,032
Ohio Higher Educational Facility Commission, University of Dayton, Rev., 5.00%, 02/01/2034		1,125		1,240
Ohio Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC, 4.50%, 09/01/2048		840		841
Ohio Housing Finance Agency, Mortgage Backed Securities Program, Rev., GNMA/FNMA/FHLMC, 3.25%, 09/01/2052		5,980		5,805
Ohio Housing Finance Agency, Post Oak Station, Rev., HUD, 3.35%, 07/01/2025 (z)		295		293
Ohio Housing Finance Agency, Robert Cassidy Manor Apartments, Rev., FHA HUD, 5.00%, 04/01/2026 (z)		3,060		3,084
Ohio Housing Finance Agency, Thornwood Commons, Rev., FHA HUD, 5.00%, 12/01/2026 (z)		2,000		2,030
Ohio State University (The), Sustainable Bonds Multiyear Debt, Rev., 4.00%, 12/01/2041		2,060		2,084
Ohio Turnpike & Infrastructure Commission, Infrastructure Projects, Series A, Rev., 4.00%, 02/15/2038		1,500		1,522
Ohio Turnpike & Infrastructure Commission, Junior Lien Infrastructure,
Rev., 5.00%, 02/15/2028		500		540
Rev., 5.00%, 02/15/2033		365		430
Ohio Water Development Authority, Series A, Rev., 5.00%, 06/01/2029		500		552
Ohio Water Development Authority Water Pollution Control Loan Fund,
Series A, Rev., 5.00%, 12/01/2030		4,500		5,171
Series B, Rev., 3.00%, 12/01/2034		125		123

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Water Development Authority Water Pollution Control Loan Fund, Loan Fund, Series A, Rev., 5.00%, 12/01/2031		1,000		1,060
Ohio Water Development Authority Water Pollution Control Loan Fund, Sustainable Bonds Water Pollution, Rev., 5.00%, 12/01/2033		4,420		5,280
Ohio Water Development Authority, Sustainability Bond, Series A, Rev., 5.00%, 06/01/2031		300		347
State of Ohio,
Series A2, Rev., 4.00%, 04/01/2033		3,000		3,016
Series A, GO, 5.00%, 09/01/2024		130		131
Series A, GO, 5.00%, 03/01/2034		1,000		1,180
Series X, GO, 5.00%, 05/01/2035		300		348
State of Ohio, Cleveland Clinic Health System,
Rev., 5.00%, 01/01/2033		2,410		2,779
Rev., 5.00%, 01/01/2034		2,425		2,794
Rev., 5.00%, 01/01/2039		570		636
Series A, Rev., 5.00%, 01/01/2027		940		991
State of Ohio, Common Schools, Series C, GO, 5.00%, 03/15/2030		125		141
State of Ohio, Garvee,
Series 1A, Rev., 5.00%, 12/15/2025		800		825
Series 1A, Rev., 5.00%, 12/15/2028		1,000		1,100
Series 2022-1, Rev., 5.00%, 12/15/2028		1,000		1,100
Series 2022-1, Rev., 5.00%, 12/15/2031		1,000		1,143
State of Ohio, Higher Education,
Series A, GO, 5.00%, 05/01/2032		10,000		10,579
Series C, GO, 5.00%, 08/01/2028 (p)		350		383
State of Ohio, Infrastructure Improvement,
GO, 4.00%, 09/01/2025		1,075		1,087
GO, 4.00%, 09/01/2027		1,690		1,753
GO, 5.00%, 03/01/2034		1,000		1,162
State of Ohio, Premier Health Partners,
Rev., 4.00%, 11/15/2039		1,320		1,246
Rev., 4.00%, 11/15/2041		1,450		1,346
Rev., 5.00%, 11/15/2028		680		711
State of Ohio, University Hospital Health, Rev., VRDO, 3.90%, 04/01/2024 (z)		1,500		1,500
State of Ohio, University Hospitals Health, Rev., 4.00%, 01/15/2037		1,000		1,013
State of Ohio, University Hospitals Health System, Series A, Rev., 5.00%, 01/15/2041		1,000		1,016
Summit County Development Finance Authority, University of Akron Parking Project, Rev., 5.63%, 12/01/2048		4,645		4,935
				171,935
Oklahoma — 0.5%
Creek County Educational Facilities Authority, Sapulpa Public Schools Project, Rev., BAM, 4.13%, 09/01/2048		4,250		4,161
Grand River Dam Authority, Rev., 5.00%, 06/01/2037		1,850		2,117
Oklahoma City Economic Development Trust, Increment District #8 Project,
Rev., 4.00%, 03/01/2032		1,640		1,740
Rev., 4.00%, 03/01/2033		5,000		5,310
Rev., 4.00%, 03/01/2034		4,440		4,709
Oklahoma Development Finance Authority, Integris, Series A, Rev., 4.00%, 08/15/2038		2,000		1,980
Oklahoma Development Finance Authority, Integris Obligated Group, Rev., VRDO, 4.20%, 04/04/2024 (z)		1,910		1,910
Oklahoma Development Finance Authority, OU Health Project, Series A, Rev., 5.50%, 08/15/2037		1,110		1,166

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — continued
Oklahoma Development Finance Authority, OU Medicine Project, Series B, Rev., 5.50%, 08/15/2057		8,000		8,235
Oklahoma Housing Finance Agency, Home Ownership Loan Program, Rev., GNMA/FNMA/FHLMC, 6.50%, 09/01/2054		2,700		3,048
Oklahoma Turnpike Authority,
Series A, Rev., 3.75%, 01/01/2033		1,000		1,004
Series A, Rev., 5.00%, 01/01/2037		1,665		1,708
Oklahoma Water Resources Board, Series B, Rev., 5.00%, 10/01/2026		1,255		1,316
Oklahoma Water Resources Board, Drinking Water Program 2019 Master, Rev., 4.00%, 04/01/2048		3,000		2,926
Osage County Industrial Authority, Rev., 5.75%, 09/01/2053		1,000		1,003
Tulsa County Independent School District No. 1 Tulsa, Series B, GO, 2.00%, 09/01/2026		1,500		1,436
				43,769
Oregon — 0.7%
City of Portland Sewer System Revenue, Second Lien, Series A, Rev., 5.00%, 12/01/2031		2,670		3,109
City of Portland Water System Revenue, Second Lien,
Series A, Rev., 4.00%, 05/01/2039		500		508
Series A, Rev., 5.00%, 05/01/2033		1,825		2,039
County of Gilliam, Waste Management, Rev., AMT, 3.95%, 07/01/2038 (z)		1,000		999
Hospital Facilities Authority of Multnomah County Oregon, Green Bond Terwilliger, Rev., 0.95%, 06/01/2027		235		213
Jackson County School District No. 5 Ashland, GO, SCH BD GTY, 5.00%, 06/15/2030		1,000		1,107
Medford Hospital Facilities Authority, Asante Project, Series A, Rev., AGM, 4.00%, 08/15/2045		9,740		9,351
Multnomah County School District No. 1 Portland, GO, SCH BD GTY, 5.00%, 06/15/2028		1,850		2,017
Oregon Health & Science University, Series B1, Rev., 5.00%, 07/01/2046 (z)		1,500		1,635
Oregon State Facilities Authority, Samaritan Health Services, Rev., 5.00%, 10/01/2040		1,750		1,824
Oregon State Facilities Authority, Samaritan Health Services Project, Rev., 5.00%, 10/01/2031		1,740		1,789
Port of Portland Airport Revenue,
Series 27A, Rev., AMT, 5.00%, 07/01/2028		1,595		1,704
Series 27A, Rev., AMT, 5.00%, 07/01/2034		1,455		1,585
Series 27A, Rev., AMT, 5.00%, 07/01/2036		1,000		1,080
Port of Portland Airport Revenue, Green Bonds, Rev., AMT, 5.00%, 07/01/2036		500		560
Port of Portland Airport Revenue, Portland International Air, Rev., AMT, 5.00%, 07/01/2035		1,270		1,363
Port of Portland Airport Revenue, Portland International Airport,
Rev., AMT, 5.00%, 07/01/2026		1,145		1,182
Rev., AMT, 5.00%, 07/01/2031		2,230		2,402
Series 25B, Rev., AMT, 5.00%, 07/01/2039		1,020		1,075
Salem Hospital Facility Authority, Capital Manor Project,
Rev., 4.00%, 05/15/2032		185		178
Rev., 4.00%, 05/15/2040		750		663
Salem Hospital Facility Authority, Salem Health Projects, Series A, Rev., 5.00%, 05/15/2046		3,000		3,046
State of Oregon Department of Transportation, Subordinate, Series A, Rev., 5.00%, 11/15/2036		9,095		10,072
State of Oregon Housing & Community Services Department, Series C, Rev., 3.00%, 01/01/2052		3,205		3,101
State of Oregon Housing & Community Services Department, Single Family Mortgage Program, Series A, Rev., 3.00%, 07/01/2052		615		594
State of Oregon Housing & Community Services Department, The Susan Emmons Apartments Project, Rev., HUD, 4.35%, 06/01/2024		2,115		2,113
State of Oregon, Article XI Q, Series F, GO, 5.00%, 05/01/2030		100		104

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 State Project,
GO, 5.00%, 05/01/2025		500		509
GO, 5.00%, 05/01/2030		405		460
State of Oregon, Article XI-Q State Project, Series A, GO, 5.00%, 05/01/2027		1,220		1,298
State of Oregon, Veterans Welfare Bonds, GO, 5.50%, 12/01/2053		265		283
State of Oregon, Veterans Welfare Bonds Series, GO, 3.00%, 12/01/2051		1,295		1,240
University of Oregon, Series A, Rev., 5.00%, 04/01/2048		1,000		1,035
Yamhill Clackamas & Washington Counties School District No. 29J Newberg, Series B, GO, SCH BD GTY, 4.00%, 06/15/2039		3,620		3,710
				63,948
Pennsylvania — 4.7%
Allegheny County Airport Authority,
Series A, Rev., AGM, AMT, 4.00%, 01/01/2046		11,800		11,396
Series A, Rev., AGM-CR, AMT, 4.00%, 01/01/2056		8,920		8,302
Series B, Rev., AGM, 4.00%, 01/01/2039		2,635		2,705
Allegheny County Hospital Development Authority, Health Network Obligations,
Rev., 5.00%, 04/01/2033		1,000		1,051
Series A, Rev., 5.00%, 04/01/2047		1,560		1,583
Allegheny County Hospital Development Authority, University of Pittsburgh Medical Center,
Rev., 4.00%, 07/15/2038		2,185		2,200
Rev., 5.00%, 07/15/2030		1,000		1,095
Allegheny County Industrial Development Authority, United States Steel Corp., Rev., 4.88%, 11/01/2024		1,500		1,503
Allegheny County Sanitary Authority, Rev., 5.75%, 06/01/2047		2,250		2,565
Allegheny County, Hospital Development Authority, Pittsburg University Medical Center,
Series A, Rev., 4.00%, 07/15/2036		2,200		2,246
Series A, Rev., 5.00%, 07/15/2027		765		810
Allegheny County, Sanitary Authority,
Series B, Rev., 4.00%, 06/01/2035		400		418
Series B, Rev., 4.00%, 06/01/2036		675		707
Series B, Rev., 5.00%, 06/01/2030		500		565
Allentown Neighborhood Improvement Zone Development Authority, Forward Delivery, Rev., 5.00%, 05/01/2042		1,000		1,029
Allentown Neighborhood Improvement Zone Development Authority, Neuweiler Lofts Project, Rev., 6.25%, 05/01/2042 (e)		2,010		2,017
Allentown Neighborhood Improvement Zone Development Authority, Senior Tax Revenue, Rev., 6.00%, 05/01/2042 (e)		180		188
Altoona Area School District, GO, BAM, 5.00%, 12/01/2048 (p)		1,000		1,029
Bentworth School District, Series A, GO, BAM, 4.00%, 03/15/2025		1,380		1,386
Berks County Industrial Development Authority, Tower Health Project,
Rev., 4.00%, 11/01/2050		1,500		777
Rev., 5.00%, 11/01/2047		2,155		1,115
Bethlehem Area School District Authority, Bethlehem Area School District,
Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 01/01/2030 (aa)		230		226
Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 07/01/2031 (aa)		290		286
Rev., (United States SOFR * 0.67 + 0.35%), 3.91%, 01/01/2032 (aa)		240		236
Capital Region Water, Water Revenue, Rev., 5.00%, 07/15/2032		1,000		1,080
Central Bradford Progress Authority, Guthrie Clinic, Rev., VRDO, 4.26%, 04/04/2024 (z)		400		400
Chartiers Valley School District, Series B, GO, 5.00%, 10/15/2040 (p)		1,000		1,017
Chester County Industrial Development Authority, Avon Grove Charter School, Rev., 5.00%, 03/01/2027		185		188

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Chester County School Authority, Chester County Intermediate Unit,
Rev., BAM, 5.00%, 04/01/2037		1,000		1,103
Rev., BAM, 5.00%, 04/01/2039		1,000		1,087
Rev., BAM, 5.00%, 04/01/2040		1,550		1,677
Rev., BAM, 5.00%, 04/01/2043		1,000		1,071
City of Lancaster, GO, BAM, 5.00%, 11/01/2047		6,665		7,022
City of Philadelphia,
GO, AGM, 5.00%, 08/01/2031		1,795		1,910
Series A, GO, 5.00%, 08/01/2030		4,000		4,067
City of Philadelphia Airport Revenue,
Series A, Rev., 5.00%, 07/01/2047		5,000		5,144
Series B, Rev., AMT, 5.00%, 07/01/2035		2,235		2,327
Series C, Rev., AMT, 4.00%, 07/01/2050		1,500		1,382
Series C, Rev., AMT, 5.00%, 07/01/2028		10,000		10,584
City of Philadelphia Airport Revenue, Private Activity,
Rev., AGM, AMT, 4.00%, 07/01/2041		1,100		1,080
Rev., AGM, AMT, 4.00%, 07/01/2046		3,750		3,620
City of Philadelphia Water & Wastewater Revenue,
Series A, Rev., 5.00%, 11/01/2040		2,790		3,056
Series A, Rev., 5.00%, 11/01/2045		7,000		7,508
Series C, Rev., 5.00%, 06/01/2042		1,000		1,095
Commonwealth Financing Authority, Tobacco Master Settlement Payment,
Rev., AGM, 4.00%, 06/01/2039		6,340		6,376
Rev., 5.00%, 06/01/2025		1,820		1,845
Commonwealth of Pennsylvania,
Series 1, GO, 4.00%, 03/15/2034		5,000		5,022
Series 1, GO, 4.00%, 03/01/2035		3,650		3,767
Series 1, GO, 4.00%, 03/15/2035		2,000		2,007
Commonwealth of Pennsylvania, Bidding Group C First Series, Series 1, GO, 4.00%, 09/01/2040		5,000		5,103
County of Allegheny, Series C75, GO, 5.00%, 11/01/2028		2,305		2,401
County of Lehigh, St. Luke’s Hospital Project, Rev., (SIFMA Municipal Swap Index + 1.10%), 4.74%, 08/15/2038 (aa)		355		351
Cumberland County Municipal Authority, Rev., 5.00%, 05/01/2030		1,000		1,029
Delaware River Port Authority,
Rev., 5.00%, 01/01/2037		3,000		3,007
Rev., 5.00%, 01/01/2040		10,000		10,011
Delaware Valley Regional Finance Authority,
Series A, Rev., AMBAC, 5.50%, 08/01/2028		4,390		4,792
Series C, Rev., (CME Term SOFR 3 Month * 0.67 + 0.75%), 4.50%, 06/01/2037 (aa)		250		224
Geisinger Authority, Geisinger Health System Obligation Group, Rev., 4.00%, 04/01/2039		1,000		995
Geisinger Authority, Geisinger Health System Se, Rev., 5.00%, 02/15/2045		5,560		5,672
Lancaster County Hospital Authority, Auth Masonic Villages Project, Rev., 5.13%, 11/01/2038		1,675		1,754
Lancaster County Hospital Authority, Penn State Health, Rev., 5.00%, 11/01/2037		600		643
Lancaster Industrial Development Authority, Landis Homes Retirement Community, Rev., 4.00%, 07/01/2056		765		566
Lehigh County Industrial Development Authority, PPL Electric Utilities Project, Series A, Rev., 3.00%, 09/01/2029		3,455		3,331
Monroeville Finance Authority,
Series B, Rev., 5.00%, 02/15/2029		1,425		1,554
Series B, Rev., 5.00%, 02/15/2038		1,200		1,342
Series B, Rev., 5.00%, 02/15/2039		2,000		2,214

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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, Rev., 4.00%, 05/01/2038		250		253
Montgomery County Higher Education and Health Authority, Thomas Jefferson University Project, Rev., 4.00%, 09/01/2044		1,610		1,535
Montgomery County Industrial Development Authority, Constellation Energy, Rev., 4.10%, 04/01/2053 (z)		3,335		3,422
Montgomery County Industrial Development Authority, Retirement Life Communities,
Rev., 5.00%, 11/15/2033		1,500		1,553
Series C, Rev., 5.00%, 11/15/2045		2,585		2,687
New Castle Sanitation Authority, Series A, Rev., AGM, 3.00%, 06/01/2029		500		498
Norristown Area School District, GO, 5.00%, 09/01/2026		1,500		1,560
Northampton County General Purpose Authority, St. Luke’s University Health Network,
Rev., 5.00%, 08/15/2046		5,030		5,088
Rev., AGM, 5.00%, 08/15/2049 (w)		4,000		4,295
Pennsylvania Economic Development Financing Authority,
Rev., 4.00%, 05/15/2048		2,055		1,949
Rev., 5.00%, 05/15/2031		2,385		2,692
Pennsylvania Economic Development Financing Authority Parking System Revenue, Senior Insured Capitol,
Rev., AGM, 4.00%, 01/01/2041		1,000		1,001
Rev., AGM, 4.00%, 01/01/2042		1,035		1,030
Rev., AGM, 4.13%, 01/01/2043		1,070		1,072
Rev., AGM, 5.00%, 01/01/2034		2,000		2,224
Pennsylvania Economic Development Financing Authority, Covanta Project Sustainable, Rev., AMT, 3.25%, 08/01/2039 (e)		2,515		1,891
Pennsylvania Economic Development Financing Authority, Pennsylvania Bridges Finco LP P3 Project,
Rev., AMT, 5.00%, 12/31/2030		3,460		3,527
Rev., AMT, 5.00%, 12/31/2034		2,000		2,035
Rev., AMT, 5.00%, 06/30/2042		1,250		1,253
Pennsylvania Economic Development Financing Authority, Philadelphia Biosolids Facility,
Rev., 4.00%, 01/01/2028		1,590		1,576
Rev., 4.00%, 01/01/2029		450		446
Rev., 4.00%, 01/01/2031		800		794
Pennsylvania Economic Development Financing Authority, Republic Services, Inc., Rev., AMT, 4.00%, 04/01/2034 (z)		1,360		1,360
Pennsylvania Economic Development Financing Authority, The Penndot Major Bridges,
Rev., AGM, AMT, 5.00%, 12/31/2057		6,730		7,095
Rev., AMT, 5.25%, 06/30/2035		1,500		1,693
Rev., AGM, AMT, 5.50%, 06/30/2042		5,640		6,362
Rev., AMT, 5.75%, 06/30/2048		3,750		4,178
Rev., AGM, AMT, 5.75%, 12/31/2062		2,500		2,795
Rev., AMT, 6.00%, 06/30/2061		1,500		1,684
Pennsylvania Economic Development Financing Authority, UPMC,
Series A1, Rev., 4.00%, 04/15/2045		5,440		5,257
Series A, Rev., 4.00%, 02/15/2042		1,330		1,316
Series A, Rev., 5.00%, 02/01/2030		4,960		4,975
Pennsylvania Economic Development Financing Authority, Villanova University Project, Rev., 5.00%, 08/01/2049 (w)		2,525		2,783

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Economic Development Financing Authority, Waste Management Project, Rev., 0.95%, 12/01/2033 (z)		2,000		1,842
Pennsylvania Economic Development Financing Authority, Waste Management, Inc., Rev., AMT, 1.10%, 06/01/2031 (z)		2,000		1,853
Pennsylvania Economic Development Financing Authority, Waste Management, Inc. Project,
Rev., AMT, 1.75%, 08/01/2038 (z)		6,100		6,050
Rev., AMT, (SIFMA Municipal Swap Index + 0.40%), 4.04%, 06/01/2041 (aa)		805		804
Rev., AMT, 4.10%, 08/01/2045 (z)		2,050		2,049
Rev., AMT, 4.60%, 10/01/2046 (z)		10,000		10,166
Series A, Rev., AMT, 0.58%, 08/01/2037 (z)		2,610		2,579
Pennsylvania Higher Education Assistance Agency, Series A, Rev., AMT, 5.00%, 06/01/2026		95		97
Pennsylvania Higher Education Assistance Agency, Senior, Series A, Rev., AMT, 5.00%, 06/01/2028		3,775		3,931
Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University,
Rev., 5.25%, 09/01/2050		1,345		1,353
Rev., AGM-CR, 5.25%, 09/01/2050		7,000		7,049
Pennsylvania Higher Educational Facilities Authority, Trustees University, Series A, Rev., 4.00%, 02/15/2043		1,000		995
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Rev., 5.00%, 08/15/2042		1,250		1,282
Pennsylvania Higher Educational Facilities Authority, University Pennsylvania Health System, Series A, Rev., 4.00%, 08/15/2035		1,170		1,189
Pennsylvania Housing Finance Agency, Series 133, Rev., 3.00%, 10/01/2050		2,855		2,768
Pennsylvania Housing Finance Agency, Social Bond,
Series A, Rev., 4.85%, 10/01/2043		4,000		4,092
Series A, Rev., 5.50%, 10/01/2053		1,500		1,580
Pennsylvania Housing Finance Agency, Social Bonds, Series 141A, Rev., 5.75%, 10/01/2053		3,050		3,232
Pennsylvania Housing Finance Agency, Sustainable Bond,
Series 144A, Rev., 4.45%, 10/01/2044		2,000		1,999
Series 144A, Rev., 6.00%, 10/01/2054		2,535		2,762
Pennsylvania Housing Finance Agency, Sustainable Bonds, Series 2022, Rev., 4.25%, 10/01/2052		2,000		2,000
Pennsylvania Turnpike Commission,
Series A1, Rev., 5.00%, 12/01/2027		1,000		1,075
Series A1, Rev., 5.00%, 12/01/2034		1,000		1,067
Series A1, Rev., 5.00%, 12/01/2045		7,685		7,744
Series A1, Rev., 5.00%, 12/01/2046		1,000		1,016
Series A2, Rev., 5.00%, 12/01/2024		100		101
Series A, Rev., 4.00%, 12/01/2041		1,250		1,261
Series A, Rev., 5.25%, 12/01/2044		2,500		2,642
Series B, Rev., 4.00%, 12/01/2039		3,000		3,069
Series B, Rev., 5.00%, 12/01/2026		400		420
Series B, Rev., 5.00%, 12/01/2027		500		537
Series B, Rev., 5.00%, 12/01/2039		1,305		1,473
Series B, Rev., 5.25%, 12/01/2047		3,000		3,318
Series C, Rev., 4.00%, 12/01/2040		1,400		1,415
Series C, Rev., 4.00%, 12/01/2042		1,555		1,557
Series C, Rev., 5.00%, 12/01/2027		345		371
Series C, Rev., 5.00%, 12/01/2041		1,560		1,727
Series C, Rev., 5.00%, 12/01/2046		1,350		1,452

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Turnpike Commission Oil Franchise Tax Revenue, Subordinate, Series B, Rev., 5.00%, 12/01/2038		1,500		1,601
Pennsylvania Turnpike Commission, Motor License, Rev., 5.00%, 12/01/2040		1,000		1,052
Pennsylvania Turnpike Commission, Subordinate,
Rev., 5.00%, 12/01/2030		1,750		1,863
Series A, Rev., 4.00%, 12/01/2043		2,135		2,128
Pennsylvania Turnpike Commission, Subordinated,
Rev., 5.00%, 06/01/2026		2,000		2,051
Series A, Rev., 5.00%, 12/01/2036		2,775		2,878
Series B2, Rev., 5.00%, 06/01/2027		2,480		2,624
Philadelphia Authority for Industrial Development, Rev., 5.00%, 05/01/2033		1,250		1,346
Philadelphia Authority for Industrial Development, String Theory Charter School, Rev., 5.00%, 06/15/2040 (e)		900		909
Philadelphia Authority for Industrial Development, Thomas Jefferson University,
Series A, Rev., 5.00%, 09/01/2032		1,110		1,148
Series A, Rev., 5.00%, 09/01/2035		1,105		1,140
Series A, Rev., 5.00%, 09/01/2047		1,000		1,013
Philadelphia Gas Works Co., Series A, Rev., AGM, 4.00%, 08/01/2045		5,000		5,011
Pittsburgh Water & Sewer Authority,
Series B, Rev., AGM, 4.00%, 09/01/2036		500		514
Series B, Rev., AGM, 4.00%, 09/01/2038		500		506
Series B, Rev., AGM, 4.00%, 09/01/2045		2,250		2,186
Pittsburgh Water & Sewer Authority, First Lien, Series A, Rev., AGM, 5.00%, 09/01/2048		1,000		1,080
Ridley School District, GO, BAM, 5.25%, 11/15/2039		4,545		4,962
School District of Philadelphia, Series A, GO, BAM, 4.00%, 09/01/2039		7,500		7,600
School District of Philadelphia (The),
Series A, GO, 5.00%, 09/01/2027		610		643
Series A, GO, 5.00%, 09/01/2031		245		274
Series A, GO, 5.00%, 09/01/2035		3,000		3,187
Series F, GO, 5.00%, 09/01/2035		5,000		5,114
Series F, GO, 5.00%, 09/01/2037		2,000		2,034
School District of Philadelphia (The), Green Bond,
Series B, GO, 5.00%, 09/01/2027		895		944
Series B, GO, 5.00%, 09/01/2028		1,485		1,591
Series B, GO, 5.00%, 09/01/2029		450		489
Scranton School District, Series E, GO, BAM, 4.00%, 12/01/2037		1,025		1,013
Southeastern Pennsylvania Transportation Authority, Asset Improvement Program,
Rev., 5.25%, 06/01/2041		3,000		3,394
Rev., 5.25%, 06/01/2042		1,500		1,688
Rev., 5.25%, 06/01/2047		7,750		8,548
Sports & Exhibition Authority of Pittsburgh and Allegheny County,
Rev., AGM, 5.00%, 02/01/2027		2,250		2,364
Rev., AGM, 5.00%, 02/01/2028		2,590		2,777
State Public School Building Authority, Northampton County Area Community,
Rev., BAM, 4.00%, 03/01/2029		1,000		1,029
Rev., BAM, 4.00%, 03/01/2030		640		658
Rev., BAM, 4.00%, 03/01/2031		500		514
Rev., BAM, 5.00%, 03/01/2027		715		748
Rev., BAM, 5.00%, 03/01/2028		755		805
State Public School Building Authority, Philadelphia School District, Rev., AGM, 5.00%, 06/01/2030		3,480		3,628

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Westmoreland County Industrial Development Authority, Excela Health Project,
Series A, Rev., 4.00%, 07/01/2025		575		570
Series A, Rev., 5.00%, 07/01/2028		1,400		1,451
				422,730
Puerto Rico — 0.7%
Commonwealth of Puerto Rico, Restructured,
Series A1, GO, 4.00%, 07/01/2033		481		480
Series A1, GO, 4.00%, 07/01/2041		505		475
Series A1, GO, 4.00%, 07/01/2046		525		481
Series A1, GO, 5.38%, 07/01/2025		1,917		1,955
Series A1, GO, 5.63%, 07/01/2027		5,045		5,365
Series A1, GO, 5.63%, 07/01/2029		2,000		2,188
Series A1, GO, 5.75%, 07/01/2031		2,008		2,262
Series A, GO, Zero Coupon, 07/01/2024		78		78
Series A, GO, Zero Coupon, 07/01/2033		7,410		4,861
Commonwealth of Puerto Rico, Subordinate, Note Claims, Series CW, 0.00%, 11/01/2043 (z)		7,460		4,312
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Senior Lien, Series A, Rev., 5.00%, 07/01/2047 (e)		1,000		1,017
Puerto Rico Electric Power Authority,
Series AAA, Rev., 5.25%, 07/01/2023 (d)		100		26
Series CCC, Rev., 4.63%, 07/01/2025 (d)		100		26
Series DDD, Rev., 5.00%, 07/01/2020 (d)		570		150
Series NN, Rev., NATL, 4.75%, 07/01/2033		30		29
Series TT, Rev., 5.00%, 07/01/2020 (d)		285		75
Series TT, Rev., 5.00%, 07/01/2021 (d)		100		26
Series TT, Rev., 5.00%, 07/01/2037 (d)		1,200		315
Series XX, Rev., 4.63%, 07/01/2025 (d)		100		26
Series XX, Rev., 4.75%, 07/01/2026 (d)		295		78
Series ZZ, Rev., 4.25%, 07/01/2020 (d)		470		124
Series ZZ, Rev., 5.25%, 07/01/2019 (d)		580		152
Series ZZ, Rev., 5.25%, 07/01/2023 (d)		500		131
Puerto Rico Electric Power Authority, Libor, Series UU, Rev., AGM, (CME Term SOFR 3 Month * 0.67 + 0.52%), 4.27%, 07/01/2029 (aa)		500		472
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Restructured,
Series A1, Rev., Zero Coupon, 07/01/2031		2,925		2,208
Series A1, Rev., 4.75%, 07/01/2053		3,000		2,986
Series A1, Rev., 5.00%, 07/01/2058		18,250		18,304
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Restructured,
Series A1, Rev., 4.55%, 07/01/2040		1,385		1,397
Series A2, Rev., 4.33%, 07/01/2040		13,000		13,004
				63,003
Rhode Island — 0.1%
Rhode Island Health and Educational Building Corp., Brown University, Series A, Rev., 4.00%, 09/01/2037		1,000		1,017
Rhode Island Housing and Mortgage Finance Corp., Series 71, Rev., GNMA COLL, 3.75%, 10/01/2049		290		286
Rhode Island Housing and Mortgage Finance Corp., Homeownership Opportunity,
Series 73A, Rev., 0.95%, 04/01/2026		500		459
Series 73A, Rev., 1.10%, 04/01/2027		300		270
Series 73A, Rev., 1.65%, 10/01/2029		715		622
Series 73A, Rev., 3.00%, 10/01/2050		980		949

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Rhode Island — continued
Rhode Island Housing and Mortgage Finance Corp., Social Bonds, Series 75A, Rev., 3.00%, 10/01/2051		2,340		2,260
Rhode Island Student Loan Authority,
4.13%, 12/01/2041		1,330		1,307
4.13%, 12/01/2043		1,600		1,568
Rhode Island Student Loan Authority, Senior Bond, Series A, Rev., AMT, 5.00%, 12/01/2029		370		398
Tobacco Settlement Financing Corp., Series B, Rev., 4.50%, 06/01/2045		3,165		3,170
				12,306
South Carolina — 1.2%
City of Columbia Waterworks & Sewer System Revenue,
Rev., 5.00%, 02/01/2047		2,625		2,909
Series B, Rev., 5.00%, 02/01/2036		1,085		1,274
Series B, Rev., 5.00%, 02/01/2037		1,500		1,745
Series B, Rev., 5.00%, 02/01/2038		1,500		1,728
Columbia Housing Authority, Colonial Bluffs Apartments, Rev., 1.25%, 08/01/2025 (z)		770		761
Lexington County Health Services District, Inc., Lexmed Obligated Group,
Rev., 4.00%, 11/01/2030		1,000		1,023
Rev., 4.00%, 11/01/2031		1,000		1,024
Patriots Energy Group Financing Agency, Series B1, Rev., 5.25%, 02/01/2054 (z)		14,400		15,603
South Carolina Jobs-Economic Development Authority, Bon Secours Mercy Health, Series S, Rev., 5.00%, 12/01/2048 (z)		1,000		1,017
South Carolina Jobs-Economic Development Authority, McLeod Health Projects, Rev., 5.00%, 11/01/2048		1,000		1,024
South Carolina Jobs-Economic Development Authority, Prisma Health Obligated Group, Series A, Rev., 5.00%, 05/01/2030		1,500		1,593
South Carolina Jobs-Economic Development Authority, Prisma Health Obligation Group,
Rev., VRDO, 4.32%, 04/04/2024 (z)		4,800		4,800
Rev., 5.00%, 05/01/2043		2,000		2,057
South Carolina Ports Authority, Rev., AMT, 5.00%, 07/01/2043		5,680		5,829
South Carolina Public Service Authority,
Series A, Rev., 4.00%, 12/01/2033		1,000		1,031
Series A, Rev., 4.00%, 12/01/2034		2,000		2,058
Series A, Rev., 4.00%, 12/01/2037		2,000		2,016
Series A, Rev., 4.00%, 12/01/2038		520		521
Series A, Rev., 5.00%, 12/01/2027		1,525		1,611
Series A, Rev., 5.00%, 12/01/2028		1,700		1,725
Series A, Rev., 5.00%, 12/01/2029		85		93
Series A, Rev., 5.00%, 12/01/2031		4,500		5,003
Series A, Rev., 5.00%, 12/01/2032		1,000		1,111
Series B, Rev., 5.00%, 12/01/2040		1,000		1,073
Series B, Rev., 5.00%, 12/01/2041		2,000		2,041
South Carolina Public Service Authority, Bond Exchange, Series A, Rev., 5.00%, 12/01/2050		5,000		5,020
South Carolina Public Service Authority, Obligations, Series C, Rev., 5.00%, 12/01/2027		1,600		1,660
South Carolina Public Service Authority, Pre-refunded Obligations, Series A, Rev., 5.00%, 12/01/2024 (p)		380		383
South Carolina Public Service Authority, Unrefunded Obligations,
Rev., 5.00%, 12/01/2038		1,000		992
Series A, Rev., 5.00%, 12/01/2024		120		121
Series A, Rev., 5.50%, 12/01/2054		15,000		15,011
Series C, Rev., 5.00%, 12/01/2046		3,000		2,971

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Series E, Rev., 5.25%, 12/01/2055		7,000		7,047
South Carolina State Housing Finance & Development Authority,
Series A, Rev., 3.00%, 01/01/2052		640		618
Series A, Rev., 4.00%, 01/01/2052		820		814
Series B, Rev., 3.25%, 01/01/2052		5,915		5,764
South Carolina State Housing Finance & Development Authority, James Lewis Jr. Eastside, Rev., FNMA COLL, 4.00%, 09/01/2024		2,190		2,185
South Carolina State Housing Finance & Development Authority, Villages at Congaree, Rev., 1.25%, 06/01/2025 (z)		895		890
Spartanburg Regional Health Services District, Services District, Inc.,
Rev., 5.00%, 04/15/2026		565		580
Rev., 5.00%, 04/15/2028		500		531
				105,257
South Dakota — 0.2%
County of Lincoln, GO, 5.00%, 12/01/2048		3,000		3,198
County of Lincoln, Augustana College Association, Rev., 4.00%, 08/01/2041		250		226
South Dakota Health & Educational Facilities Authority, Sanford Obligated Group, Rev., 5.00%, 11/01/2045		4,500		4,562
South Dakota Housing Development Authority,
Series C, Rev., GNMA/FNMA/FHLMC, 3.50%, 05/01/2051		900		882
Series G, Rev., GNMA/FNMA/FHLMC, 6.25%, 05/01/2055		4,270		4,665
South Dakota Housing Development Authority, Homeownership Mortgage, Series B, Rev., 3.00%, 11/01/2051		2,570		2,482
				16,015
Tennessee — 1.1%
Chattanooga Health Educational & Housing Facility Board, Commonspirit Health,
Series A1, Rev., 5.00%, 08/01/2028		305		328
Series A, Rev., 5.00%, 08/01/2044		1,000		1,044
City of Clarksville Water Sewer & Gas Revenue, Rev., 5.00%, 02/01/2041 (p)		965		997
City of Memphis Storm Water System Revenue, Rev., 5.00%, 10/01/2044		3,365		3,506
County of Coffee, GO, 5.00%, 06/01/2026		250		260
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		2,255
Johnson City Health & Educational Facilities Board, Tapestry at Roan Hill, Rev., HUD, 3.60%, 12/01/2027 (z)		3,000		2,982
Knox County Health Educational & Housing Facility Board, University of Tennessee Project,
Series A1, Rev., BAM, 5.00%, 07/01/2039		500		550
Series A1, Rev., BAM, 5.25%, 07/01/2049		1,365		1,480
Knox County Health Educational & Housing Facility Board, Westview Towers Project, Rev., HUD, 3.95%, 12/01/2027 (z)		410		407
Knoxville’s Community Development Corp., Willow Place Project, Rev., HUD, 3.75%, 12/01/2027 (z)		1,800		1,792
Lewisburg Industrial Development Board, Waste Management Tennessee Project, Rev., AMT, 4.10%, 07/02/2035 (z)		2,500		2,499
Memphis-Shelby County Airport Authority,
Rev., AMT, 5.00%, 07/01/2032		270		285
Rev., AMT, 5.00%, 07/01/2043		2,055		2,111
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Belmont University, Rev., 5.25%, 05/01/2048		1,250		1,351

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Vanderbilt University Medical Center, Rev., 5.00%, 07/01/2046		1,285		1,293
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bond, Vanderbilt University Medical Center, Series A, Rev., 5.00%, 07/01/2040		7,555		7,657
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Bonds, Vanderbilt University Medical, Rev., 5.00%, 07/01/2031		2,785		3,084
Metropolitan Government Nashville & Davidson County Industrial Development Board, Waste Management, Inc. Tenn Project, Rev., AMT, 0.58%, 08/01/2031 (z)		600		593
Metropolitan Government Nashville & Davidson County Sports Authority, Stadium Project Senior Lien, Series A, Rev., AGM, 5.25%, 07/01/2048		2,925		3,229
Metropolitan Government of Nashville & Davidson County Electric Revenue, Series A, Rev., 5.00%, 05/15/2043		1,500		1,698
Metropolitan Government of Nashville & Davidson County, Water & Sewer Revenue, Subordinate, Series B, Rev., 5.00%, 07/01/2035		1,500		1,587
Metropolitan Nashville Airport Authority (The),
Series B, Rev., AMT, 5.00%, 07/01/2026		70		72
Series B, Rev., AMT, 5.00%, 07/01/2027		170		178
Series B, Rev., AMT, 5.25%, 07/01/2033		270		307
Series B, Rev., AMT, 5.25%, 07/01/2047		3,500		3,769
Series B, Rev., AMT, 5.50%, 07/01/2038		1,625		1,842
State of Tennessee, GO, 5.00%, 05/01/2041		7,470		8,523
Tennergy Corp., Series A, Rev., 4.00%, 12/01/2051 (z)		6,500		6,503
Tennergy Corp., Gas Supply Bonds, Series A, Rev., 5.50%, 10/01/2053 (z)		5,000		5,343
Tennessee Energy Acquisition Corp.,
Rev., 4.00%, 11/01/2049 (z)		4,480		4,495
Rev., 5.00%, 05/01/2052 (z)		18,000		19,011
Tennessee Energy Acquisition Corp., Gas Project, Series A1, Rev., 5.00%, 05/01/2053 (z)		9,000		9,292
Tennessee Housing Development Agency, Residential Finance Program I, Rev., 3.75%, 01/01/2050		200		197
Tennessee Housing Development Agency, Sustainable Bonds,
Series 1A, Rev., 4.50%, 07/01/2044		1,220		1,219
Series 1A, Rev., 5.75%, 01/01/2055		550		593
Williamson County Industrial Development Board, Wood Duck Court Apartments, Rev., HUD, 5.00%, 05/01/2042 (z)		1,460		1,505
				103,837
Texas — 10.6%
Alamo Community College District, Maintenance Tax Notes, GO, 5.00%, 02/15/2026		5,000		5,173
Anson Education Facilities Corp., Arlington Classics Academy, Rev., 5.00%, 08/15/2045		1,370		1,376
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		448
Series A, Rev., PSF-GTD, 4.00%, 08/15/2026		265		268
Series A, Rev., PSF-GTD, 4.00%, 08/15/2030		425		442
Series A, Rev., PSF-GTD, 5.00%, 08/15/2031		555		627
Arlington Higher Education Finance Corp., Legacy Traditional Schools,
Rev., 4.13%, 02/15/2041		815		636
Rev., 6.00%, 02/15/2042 (e)		250		242
Arlington Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		775		801

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Austin Community College District,
GO, 5.00%, 08/01/2048		3,500		3,829
GO, 5.25%, 08/01/2053		1,500		1,660
Austin Convention Enterprises, Inc., First Tier Convention Center, Rev., 5.00%, 01/01/2033		1,125		1,145
Austin Independent School District,
GO, 5.00%, 08/01/2026		1,000		1,046
GO, 5.00%, 08/01/2038		500		572
Series A, GO, PSF-GTD, 4.00%, 08/01/2032 (p)		1,000		1,009
Barbers Hill Independent School District, GO, PSF-GTD, 5.00%, 02/15/2035		3,000		3,461
Bastrop Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040		2,000		2,249
Beaumont Independent School District,
GO, PSF-GTD, 3.00%, 02/15/2033		2,500		2,424
GO, PSF-GTD, 5.00%, 02/15/2028		1,535		1,584
Bells Independent School District, GO, PSF-GTD, 4.25%, 02/15/2053		2,310		2,290
Bexar County Hospital District, Certificate Obligation, GO, 5.00%, 02/15/2043		2,750		2,998
Bexar County Hospital District, Certificates Obligation, GO, 4.00%, 02/15/2039		1,090		1,103
Bexar County Hospital District, Certificates of Obligation,
GO, 5.00%, 02/15/2036		370		417
GO, 5.00%, 02/15/2037		230		258
Board of Regents of the University of Texas System,
Series A, Rev., 5.00%, 08/15/2030		1,000		1,139
Series E, Rev., 5.00%, 08/15/2027		1,000		1,069
Board of Regents of the University of Texas System, Financing System, Series A, Rev., 4.00%, 08/15/2036		1,000		995
Boerne Independent School District, GO, PSF-GTD, 3.13%, 02/01/2053 (z)		1,765		1,750
Brazoria County Toll Road Authority, Subordinated Lien, Series A, Rev., CNTY GTD, 5.00%, 03/01/2033		1,670		1,773
Brazosport Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2029		2,000		2,203
GO, PSF-GTD, 5.00%, 02/15/2030		1,925		2,110
Capital Area Housing Finance Corp., Redwood Apartments, Rev., 3.50%, 01/01/2041 (z)		3,000		2,976
Carrollton-Farmers Branch Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		2,500		2,586
Central Texas Regional Mobility Authority,
Series B, Rev., 4.00%, 01/01/2040		800		803
Series B, Rev., 4.00%, 01/01/2051		1,250		1,185
Series B, Rev., 5.00%, 01/01/2037		1,000		1,087
Series B, Rev., 5.00%, 01/01/2046		1,500		1,580
Series C, Rev., 5.00%, 01/01/2027		2,000		2,049
Central Texas Regional Mobility Authority, Senior Lien,
Series B, Rev., 4.00%, 01/01/2039		600		604
Series B, Rev., 4.00%, 01/01/2040		500		502
Series B, Rev., 5.00%, 01/01/2045		3,595		3,768
Series D, Rev., 5.00%, 01/01/2033		480		534
Series E, Rev., 5.00%, 01/01/2045		2,665		2,793
Central Texas Regional Mobility Authority, Subordinated, Series F, Rev., BAN, 5.00%, 01/01/2025		4,770		4,783
Central Texas Turnpike System, Subordinate,
Series C, Rev., 5.00%, 08/15/2031		1,000		1,004
Series C, Rev., 5.00%, 08/15/2042		5,000		5,008
Chapel Hill Independent School District/Smith County, GO, PSF-GTD, 5.00%, 02/15/2039		700		787

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
City Austin, Certificates Obligation,
GO, 5.00%, 09/01/2032		1,750		1,985
GO, 5.00%, 09/01/2033		1,100		1,245
GO, 5.00%, 09/01/2034		1,750		1,974
City of Arlington, Tax, Increment Reinvestment Zone, Tax Allocation, 4.00%, 08/15/2041		1,000		917
City of Austin Electric Utility Revenue, Series A, Rev., 5.00%, 11/15/2031		1,595		1,635
City of Austin Water & Wastewater System Revenue,
Rev., 4.00%, 11/15/2036		185		194
Rev., 4.00%, 11/15/2041		1,510		1,543
Rev., 5.00%, 11/15/2039		500		500
Rev., 5.00%, 11/15/2041		7,000		7,221
Series C, Rev., 5.00%, 11/15/2025 (p)		510		524
Series C, Rev., 5.00%, 11/15/2032		1,000		1,137
City of Austin, Airport System Revenue,
Rev., AMT, 5.00%, 11/15/2029		1,400		1,522
Rev., AMT, 5.00%, 11/15/2040		1,500		1,625
Series B, Rev., AMT, 5.00%, 11/15/2030		1,000		1,082
Series B, Rev., AMT, 5.00%, 11/15/2033		1,130		1,164
Series B, Rev., AMT, 5.00%, 11/15/2036		3,335		3,468
City of Austin, Electric Utility Revenue,
Series A, Rev., 5.00%, 11/15/2038		1,265		1,287
Series B, Rev., 5.00%, 11/15/2037		1,505		1,647
Series B, Rev., 5.00%, 11/15/2038		1,340		1,459
City of Austin, Refunding & Public Improvement, GO, 5.00%, 09/01/2033		620		702
City of Corpus Christi, Utility System Revenue,
Rev., 5.00%, 07/15/2028		1,885		2,040
Rev., 5.00%, 07/15/2039		1,000		1,124
City of Dallas Housing Finance Corp., Estates at Ferguson, Rev., 5.00%, 07/01/2042 (z)		1,010		1,043
City of Dallas Waterworks & Sewer System Revenue,
Series A, Rev., 5.00%, 10/01/2032		1,250		1,298
Series A, Rev., 5.00%, 10/01/2047		5,000		5,525
Series C, Rev., 4.00%, 10/01/2031		2,000		2,080
City of Dallas, Fair Park Venue Project Senior, Special Tax, 6.25%, 08/15/2053 (e) (z)		3,500		3,536
City of Dallas, Hutchison Convention Center, Special Tax, 6.00%, 08/15/2053 (e) (z)		9,720		9,817
City of Dallas, Waterworks & Sewer System Revenue,
Series C, Rev., 4.00%, 10/01/2039		7,470		7,666
Series C, Rev., 4.00%, 10/01/2040		1,000		1,021
Series C, Rev., 5.00%, 10/01/2029		1,125		1,259
City of Denton, GO, 2.00%, 02/15/2032		1,345		1,169
City of Denton, Certificates Obligation,
GO, 2.00%, 02/15/2034		2,565		2,143
GO, 2.00%, 02/15/2035		2,625		2,153
City of Eagle Pass, Certificates Obligation,
GO, AGM, 4.00%, 03/01/2039		500		503
GO, AGM, 4.00%, 03/01/2041		680		685
City of El Paso, GO, BAM, 4.00%, 08/15/2042		10,900		10,558
City of Fort Worth, GO, 4.00%, 03/01/2030		1,150		1,190
City of Haslet, Improvement Area Second Project, Special Assessment, 3.25%, 09/01/2031 (e)		500		441
City of Houston Airport System Revenue, Series C, Rev., AMT, 5.00%, 07/01/2028		470		500

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
City of Houston Airport System Revenue, Subordinated Lien,
Series A, Rev., AMT, 4.00%, 07/01/2035		1,000		1,007
Series A, Rev., AMT, 4.00%, 07/01/2040		3,570		3,492
Series A, Rev., AMT, 5.00%, 07/01/2024		1,000		1,001
Series A, Rev., AMT, 5.00%, 07/01/2028		1,890		2,010
Series A, Rev., AGM, AMT, 5.00%, 07/01/2028		550		587
Series A, Rev., AGM, AMT, 5.00%, 07/01/2029		1,580		1,712
Series A, Rev., AMT, 5.00%, 07/01/2034		2,500		2,721
Series A, Rev., AGM, AMT, 5.00%, 07/01/2037		2,000		2,216
Series B, Rev., 5.00%, 07/01/2026		1,000		1,041
Series B, Rev., 5.00%, 07/01/2027		1,995		2,121
City of Houston Airport System Revenue, United Airlines, Inc. Terminal, Rev., AMT, 4.00%, 07/15/2041		4,365		4,080
City of Houston Combined Utility System Revenue, First Lien, Series A, Rev., 4.00%, 11/15/2033		1,200		1,274
City of Houston Combined Utility System Revenue, Subordinate First Lien, Rev., 5.00%, 11/15/2034		1,000		1,043
City of Houston Hotel Occupancy Tax & Special Revenue, Convention & Entertainment,
Rev., 4.00%, 09/01/2024		150		150
Rev., 4.00%, 09/01/2025		45		45
Rev., 4.00%, 09/01/2029		280		291
City of Houston, Airport System Revenue, Special Facilities, United Airlines, Inc., Rev., AMT, 5.00%, 07/15/2028		600		613
City of Houston, Combined Utility System Revenue, First Lien,
Series A, Rev., 5.00%, 11/15/2029		1,100		1,228
Series C, Rev., 5.00%, 11/15/2029		3,100		3,462
City of Justin, Timberbrook Public Improvement, Special Assessment, 3.00%, 09/01/2031 (e)		315		281
City of Kyle, 6 Creeks Public Improvement, Special Assessment, 2.63%, 09/01/2025 (e)		242		233
City of Lewisville, Waterworks & Sewer System Revenue, Rev., 5.00%, 02/15/2038		1,015		1,149
City of Lubbock Electric Light & Power System Revenue,
Rev., 5.00%, 04/15/2026		800		828
Rev., 5.00%, 04/15/2027		785		828
Rev., 5.00%, 04/15/2028		900		967
Rev., AGM, 5.00%, 04/15/2035		1,345		1,563
Rev., AGM, 5.00%, 04/15/2038		1,045		1,179
Rev., AGM, 5.00%, 04/15/2040		1,200		1,335
City of McKinney Waterworks & Sewer System Revenue, Rev., 5.00%, 03/15/2026		350		362
City of Palestine, Certificates Obligation, GO, AGM, 4.00%, 02/15/2046		5,000		4,776
City of San Antonio Electric & Gas Systems Revenue,
Rev., 4.00%, 02/01/2030		1,660		1,751
Rev., 5.00%, 02/01/2025		3,000		3,038
Rev., 5.00%, 02/01/2033		1,795		1,890
Rev., 5.00%, 02/01/2035		1,650		1,735
Series B, Rev., 5.25%, 02/01/2040		3,000		3,413
City of San Antonio Electric & Gas Systems Revenue, Junior Lien,
Rev., 4.00%, 02/01/2037		1,000		1,032
Rev., (SIFMA Municipal Swap Index + 0.87%), 4.51%, 02/01/2048 (aa)		3,000		2,995
Series A, Rev., 5.00%, 02/01/2035		2,200		2,470
Series D, Rev., 1.13%, 12/01/2045 (z)		6,510		5,905
City of San Antonio, Electric & Gas Systems Revenue, Rev., 4.00%, 02/01/2027		2,000		2,052
Cleburne Independent School District, School Building, GO, PSF-GTD, 5.00%, 02/15/2036		1,065		1,089

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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., Idea Public School,
Rev., PSF-GTD, 5.00%, 08/15/2026		1,840		1,912
Series A, Rev., 4.00%, 08/15/2035		415		409
Series A, Rev., 4.00%, 08/15/2047		1,300		1,138
Series T, Rev., PSF-GTD, 4.00%, 08/15/2036		700		724
Series T, Rev., PSF-GTD, 4.00%, 08/15/2047		1,175		1,147
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		32
Series T, Rev., PSF-GTD, 5.00%, 08/15/2028		40		43
Series T, Rev., PSF-GTD, 5.00%, 08/15/2030		215		241
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		146
Clifton Higher Education Finance Corp., International Leadership of Texas, Inc., Rev., PSF-GTD, 5.00%, 08/15/2028		900		972
Collin County Community College District, Series A, GO, 4.00%, 08/15/2035		1,600		1,656
Conroe Independent School District, GO, PSF-GTD, 4.00%, 02/15/2049		6,000		5,824
County of Bexar,
GO, 4.00%, 06/15/2040		11,085		11,047
GO, 5.00%, 06/15/2043 (p)		2,000		2,080
County of Collin, GO, 5.00%, 02/15/2029		2,000		2,203
County of Dallas, Certificates of Obligation, GO, 5.00%, 08/15/2041		2,550		2,839
County of Denton, GO, 5.00%, 07/15/2027		1,000		1,069
County of El Paso, Series A, GO, 5.00%, 02/15/2027		1,430		1,478
County of Harris, Series A, GO, 5.00%, 10/01/2029		1,150		1,278
County of Harris Toll Road Revenue, First Lien, Rev., 4.00%, 08/15/2045		1,500		1,467
County of Harris, Subordinate, Series A, GO, 5.00%, 08/15/2026		1,750		1,826
County of Nueces, GO, 5.00%, 02/15/2029		460		501
County of Williamson,
GO, 5.00%, 02/15/2030 (p)		3,845		3,896
GO, 5.00%, 02/15/2031 (p)		4,045		4,099
GO, 5.00%, 02/15/2032 (p)		2,125		2,153
Cypress-Fairbanks Independent School District, School Building, Series B2, GO, PSF-GTD, 0.28%, 02/15/2040 (z)		1,285		1,266
Dallas Area Rapid Transit,
Series A, Rev., 5.00%, 12/01/2029 (p)		1,890		1,942
Series A, Rev., 5.00%, 12/01/2046 (p)		2,000		2,056
Dallas Area Rapid Transit, Senior Lien,
Rev., 5.00%, 12/01/2032		1,000		1,118
Series B, Rev., 4.00%, 12/01/2051		2,000		1,915
Dallas Fort Worth International Airport,
Series B, Rev., 5.00%, 11/01/2050		4,000		4,338
Series C, Rev., AMT, 5.00%, 11/01/2030		5,000		5,499
Dallas Fort Worth International Airport, Dallas Fort Worth International,
Rev., 5.00%, 11/01/2025		1,825		1,873
Rev., 5.00%, 11/01/2026		2,850		2,987
Dallas Independent School District, Series B, GO, PSF-GTD, 3.00%, 02/15/2034		1,370		1,315

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Del Valle Independent School District,
GO, PSF-GTD, 4.00%, 06/15/2031		3,085		3,270
GO, PSF-GTD, 4.00%, 06/15/2032		3,405		3,596
GO, PSF-GTD, 4.00%, 06/15/2033		5,740		6,041
GO, PSF-GTD, 4.00%, 06/15/2034		3,280		3,441
Denton Independent School District,
GO, PSF-GTD, 5.00%, 08/15/2027		600		640
GO, PSF-GTD, 5.00%, 08/15/2034		950		1,124
GO, PSF-GTD, 5.00%, 08/15/2053		13,130		14,226
Forney Independent School District,
GO, PSF-GTD, 5.00%, 08/15/2040		600		668
GO, PSF-GTD, 5.00%, 08/15/2043		2,075		2,274
Series A, GO, PSF-GTD, 3.00%, 08/15/2037		3,585		3,278
Series A, GO, PSF-GTD, 3.00%, 08/15/2038		4,950		4,423
Fort Bend Grand Parkway Toll Road Authority,
Series A, Rev., CNTY GTD, 5.00%, 03/01/2026		750		775
Series A, Rev., CNTY GTD, 5.00%, 03/01/2027		285		301
Series A, Rev., CNTY GTD, 5.00%, 03/01/2029		390		428
Series A, Rev., CNTY GTD, 5.00%, 03/01/2030		1,000		1,119
Fort Bend Independent School District,
Series B, GO, PSF-GTD, 0.72%, 08/01/2051 (z)		625		574
Series B, GO, PSF-GTD, 0.88%, 08/01/2050 (z)		845		813
Series B, GO, PSF-GTD, 3.65%, 08/01/2052 (z)		4,000		3,991
Fort Worth Independent School District,
GO, PSF-GTD, 4.00%, 02/15/2049		2,220		2,158
GO, PSF-GTD, 5.00%, 02/15/2040		1,750		1,982
Frisco Independent School District, school Building, Series A, GO, PSF-GTD, 4.00%, 08/15/2032		2,140		2,156
Galveston Public Facility Corp., The Oleanders at Broadway, Rev., HUD, 0.47%, 08/01/2025 (z)		560		550
Garland Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2037		500		577
Series A, GO, PSF-GTD, 5.00%, 02/15/2037		3,500		4,039
Georgetown Independent School District, GO, PSF-GTD, 2.00%, 08/15/2034		6,155		5,184
Goose Creek Consolidated Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		900		930
Grand Parkway Transportation Corp., Grand Parkway System, Rev., 4.00%, 10/01/2045		10,125		9,950
Greater Texoma Utility Authority, City of Sherman Project,
Rev., BAM, 5.00%, 10/01/2037		3,060		3,481
Rev., BAM, 5.00%, 10/01/2038		1,450		1,634
Rev., BAM, 5.00%, 10/01/2049		10,000		10,763
Series A, Rev., BAM, 4.00%, 10/01/2043		1,940		1,903
Gregory-Portland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2025		1,000		1,014
Harlandale Independent School District, GO, PSF-GTD, 0.75%, 08/15/2045 (z)		465		447
Harlandale Independent School District, Variable Maintenance Tax Notes, GO, BAM, 2.00%, 08/15/2040 (z)		350		347
Harris County Cultural Education Facilities Finance Corp., Texas Children’s Hospital,
Rev., 4.00%, 10/01/2041		4,205		4,098
Rev., 5.00%, 10/01/2051 (z)		3,000		3,395
Harris County Cultural Education Facilities Finance Corp., Texas Children’s Hospital,
Rev., BAM, 4.00%, 10/01/2037		1,790		1,803
Rev., 4.00%, 10/01/2038		1,000		989
Rev., BAM, 4.00%, 10/01/2038		1,000		1,004

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Harris County Cultural Education Facilities Finance Corp., Texas Medical Center, Series A, Rev., 0.90%, 05/15/2050 (z)		6,315		6,070
Harris County Flood Control District, Series A, GO, 5.00%, 10/01/2029		1,700		1,902
Harris County Flood Control District, Sustainability Bond,
Series A, GO, 4.00%, 09/15/2041		2,500		2,528
Series A, GO, 4.00%, 09/15/2048		9,000		8,743
Harris County Industrial Development Corp., Energy Transfer, Rev., 4.05%, 11/01/2050 (z)		2,000		2,023
Harris County, Toll Road Authority, First Lien, Rev., 5.00%, 08/15/2030		1,200		1,362
Harris County, Toll Road Authority, Senior Lien, Series A, Rev., 5.00%, 08/15/2024		100		100
Hays Consolidated Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2025		480		486
GO, PSF-GTD, 5.00%, 02/15/2038		1,000		1,125
GO, PSF-GTD, 5.00%, 02/15/2040		1,305		1,454
Hidalgo County Regional Mobility Authority, Senior Lien,
Series A, Rev., 5.00%, 12/01/2032		1,000		1,111
Series A, Rev., 5.00%, 12/01/2033		575		639
Series A, Rev., 5.00%, 12/01/2034		750		829
Housing Options, Inc., The Oaks Project, Rev., 0.50%, 08/01/2041 (z)		240		229
Houston Higher Education Finance Corp., Houston Baptist University, Rev., 4.00%, 10/01/2051		1,100		884
Houston Higher Education Finance Corp., Kipp Inc, Rev., PSF-GTD, 4.00%, 08/15/2040		2,500		2,471
Houston Housing Finance Corp., Summerdale Apartments, Rev., 5.00%, 08/01/2041 (z)		315		322
Houston Independent School District, Series C, GO, PSF-GTD, 4.00%, 06/01/2039 (z)		4,350		4,347
Hutto Independent School District, GO, PSF-GTD, 5.00%, 08/01/2048		2,400		2,618
Irving Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2028		500		540
GO, PSF-GTD, 5.00%, 02/15/2035		2,300		2,686
GO, PSF-GTD, 5.00%, 02/15/2038		4,375		4,990
GO, PSF-GTD, 5.00%, 02/15/2041		250		280
Jarrell Independent School District, GO, PSF-GTD, 5.00%, 02/15/2037		725		818
Katy Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2036		1,340		1,514
Series B, GO, PSF-GTD, 5.00%, 02/15/2036		2,475		2,542
Kilgore Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		450		465
Klein Independent School District, GO, PSF-GTD, 4.00%, 08/01/2046		4,000		3,937
Krum Independent School District, GO, PSF-GTD, 4.25%, 08/15/2054		9,255		9,134
Lake Houston Redevelopment Authority, Rev., 4.00%, 09/01/2035		250		242
Lake Travis Independent School District, School Building, Series A, GO, PSF-GTD, 5.00%, 02/15/2043 (p)		1,090		1,152
Lamar Consolidated Independent School District,
GO, PSF-GTD, 5.00%, 02/15/2029		150		165
Series A, GO, PSF-GTD, 5.00%, 02/15/2058		4,335		4,667
Leander Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		1,430		1,479
Leander Independent School District, School Building, Series C, GO, PSF-GTD, Zero Coupon, 08/15/2049 (p)		3,930		979
Lewisville Independent School District, GO, PSF-GTD, 5.00%, 08/15/2024		4,000		4,019
Llano Independent School District, GO, PSF-GTD, 5.00%, 02/15/2032		1,350		1,384
Love Field Airport Modernization Corp., Southwest Airlines Co Project, Rev., AMT, 5.00%, 11/01/2028		1,710		1,710

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Lower Colorado River Authority,
Rev., AGM, 4.00%, 05/15/2033		500		502
Rev., AGM, 5.00%, 05/15/2031		4,795		5,474
Rev., AGM, 5.00%, 05/15/2032		5,000		5,705
Series A, Rev., 5.00%, 05/15/2027		420		446
Series B, Rev., 5.00%, 05/15/2039 (z)		3,000		3,167
Lower Colorado River Authority, LCRA Transmission Services,
Rev., 5.00%, 05/15/2027		700		743
Rev., 5.00%, 05/15/2030		1,000		1,121
Lower Colorado, River Authority, Transmission Services Contract, Rev., 5.00%, 05/15/2029		100		110
Mansfield Independent School District, GO, PSF-GTD, 3.00%, 08/01/2036		1,000		948
Matagorda County Navigation District No. 1, Central Power & Light, Rev., AMT, 4.25%, 05/01/2030		825		811
Matagorda County Navigation District No. 1, Central Power & Light Co., Rev., 2.60%, 11/01/2029		3,500		3,170
McKinney Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		1,245		1,287
Medina Valley Independent School District,
GO, PSF-GTD, 0.82%, 02/15/2051 (z)		445		417
GO, PSF-GTD, 5.00%, 02/15/2040		3,000		3,356
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Contractual Obligation, Series B, Rev., 5.00%, 11/01/2025		435		447
Midland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2050 (w)		2,300		2,389
New Caney Independent School District, GO, PSF-GTD, 5.00%, 02/15/2037		625		721
New Hope Cultural Education Facilities Finance Corp., Children’s Health System, Series A, Rev., 5.00%, 08/15/2047		1,000		1,024
New Hope Cultural Education Facilities Finance Corp., NCCD College Station Project, Series A, Rev., 5.00%, 07/01/2035 (d)		1,500		1,391
New Hope Cultural Education Facilities Finance Corp., Westminster Project, Rev., 4.00%, 11/01/2049		100		89
Newark Higher Education Finance Corp., Austin Achieve Public Schools, Rev., PSF-GTD, 5.00%, 06/15/2038		1,365		1,529
North Central Texas Housing Finance Corp., Bluebonnet Ridge Apartment, Rev., 0.38%, 08/01/2040 (z)		505		496
North Fort Bend Water Authority, Rev., BAM, 5.00%, 12/15/2026		1,520		1,595
North Texas Municipal Water District Water System Revenue, Rev., 3.00%, 09/01/2041		575		488
North Texas Tollway Authority,
Series A, Rev., 5.00%, 01/01/2029		1,800		1,852
Series B, Rev., 5.00%, 01/01/2027		1,150		1,163
North Texas Tollway Authority, Capital Appreciation, First Tier, Rev., AGC, Zero Coupon, 01/01/2030		1,500		1,235
North Texas Tollway Authority, First Tier Bonds,
Series A, Rev., 4.00%, 01/01/2035		2,000		2,066
Series A, Rev., 5.00%, 01/01/2037		1,500		1,705
Series A, Rev., 5.00%, 01/01/2040		4,000		4,435
North Texas Tollway Authority, Second Tier,
Rev., 4.25%, 01/01/2049		4,000		3,917
Rev., 5.00%, 01/01/2048		2,335		2,399
Series B, Rev., 4.00%, 01/01/2035		2,100		2,195
Series B, Rev., 4.00%, 01/01/2036		1,000		1,038
Series B, Rev., 4.00%, 01/01/2037		1,000		1,030

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 B, Rev., 5.00%, 01/01/2027		215		221
Series B, Rev., 5.00%, 01/01/2033		1,000		1,049
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		13,108
Northwest Independent School District, GO, PSF-GTD, 5.00%, 02/15/2040		1,000		1,117
Northwest Independent School District, School Building, GO, PSF-GTD, 5.00%, 02/15/2042 (p)		4,515		4,671
Odessa Housing Finance Corp., Cove in Odessa Apartments, Rev., 4.05%, 06/01/2024		4,365		4,360
Odessa Junior College District, Consolidated Fund, Rev., AGM, 4.00%, 07/01/2026		1,015		1,031
Pasadena Independent School District, GO, PSF-GTD, 5.00%, 02/15/2047		2,000		2,165
Pearland Independent School District, GO, PSF-GTD, 5.00%, 02/15/2026		1,075		1,111
Pecos Barstow Toyah Independent School District, GO, PSF-GTD, 5.00%, 02/15/2027		300		316
Permanent University Fund - Texas A&M University System, Board Of Regents, Rev., 5.00%, 07/01/2039		1,500		1,681
Permanent University Fund - University of Texas System, Permanent University Fund Bonds, Rev., 5.00%, 07/01/2033		1,090		1,109
Plano Independent School District, GO, 5.00%, 02/15/2027		650		687
Port Authority of Houston of Harris County Texas,
Rev., 5.00%, 10/01/2026		850		890
Rev., 5.00%, 10/01/2028		1,250		1,360
Rev., 5.00%, 10/01/2029		1,250		1,386
Port Authority of Houston of Harris County Texas, First Lien,
Rev., 5.00%, 10/01/2025		950		975
Rev., 5.00%, 10/01/2048		8,500		9,248
Port Beaumont Navigation District, Jefferson Gulf Coast Energy,
Rev., AMT, 2.00%, 01/01/2027 (e)		550		510
Rev., AMT, 2.25%, 01/01/2029 (e)		800		708
Rev., AMT, 2.88%, 01/01/2041 (e)		120		86
Port of Beaumont Industrial Development Authority, Taxable Jefferson Gulf Coast Energy, Rev., 4.10%, 01/01/2028 (e)		3,000		2,571
Port of Corpus Christi Authority of Nueces County, Flint Hills Resources, Series A, Rev., VRDO, AMT, 4.65%, 04/01/2024 (e) (z)		11,200		11,200
Port of Port Arthur Navigation District, Motiva Enterprises, Rev., VRDO, 3.85%, 04/04/2024 (z)		13,600		13,600
Prosper Independent School District,
GO, PSF-GTD, 4.00%, 02/15/2054		12,250		11,745
GO, PSF-GTD, 4.25%, 02/15/2054		20,000		19,975
GO, PSF-GTD, 5.00%, 02/15/2025		2,620		2,656
Series A, GO, PSF-GTD, 5.00%, 02/15/2030		25		28
Rockwall Independent School District, GO, PSF-GTD, 5.00%, 02/15/2027		1,335		1,408
Royse City Independent School District, GO, PSF-GTD, 5.00%, 02/15/2039		1,000		1,130
San Antonio Education Facilities Corp., University of The Incarnate Word,
Rev., 4.00%, 04/01/2038		2,065		1,922
Rev., 4.00%, 04/01/2041		1,000		897
San Antonio Housing Trust Finance Corp., The Arbors at West Avenue, Rev., HUD, 1.45%, 03/01/2026 (z)		805		777
San Antonio Water System,
Series 2013F, Rev., 1.00%, 05/01/2043 (z)		6,000		5,442
Series A, Rev., 5.00%, 05/15/2034		2,375		2,560
Series C, Rev., 5.00%, 05/15/2046		6,670		7,081

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
San Antonio Water System, Junior Lien, Series A, Rev., 5.00%, 05/15/2043		3,500		3,662
San Marcos Consolidated Independent School District,
GO, PSF-GTD, 5.00%, 08/15/2027		1,830		1,950
GO, PSF-GTD, 5.00%, 08/15/2040		2,000		2,245
Socorro Independent School District, GO, PSF-GTD, 4.00%, 08/15/2040		2,575		2,556
Southwest Independent School District, GO, PSF-GTD, 5.00%, 02/01/2027		410		433
State of Texas, Series B, GO, 4.00%, 08/01/2030		60		61
State of Texas, Mobility Fund, Series B, GO, 5.00%, 10/01/2032		14,655		15,029
State of Texas, Public Finance Authority, GO, 5.00%, 10/01/2026		1,000		1,049
State of Texas, Water Financial Assistance,
GO, 5.00%, 08/01/2024		125		125
Series B, GO, 5.00%, 08/01/2037		1,000		1,019
Strategic Housing Finance Corp. of Travis County, ECG Yager LP, Rev., 0.46%, 09/01/2041 (z)		2,500		2,393
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health,
Rev., 4.00%, 11/15/2042		15,000		14,552
Series A, Rev., 5.00%, 11/15/2045		4,195		4,268
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott & White Health Project, Rev., 5.50%, 11/15/2047		12,415		13,527
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott and White Health, Rev., 5.00%, 11/15/2052 (z)		1,450		1,492
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott And White Health, Rev., 5.00%, 11/15/2052 (z)		3,005		3,310
Tarrant County Cultural Education Facilities Finance Corp., Christus Health, Series B, Rev., 5.00%, 07/01/2035		1,110		1,198
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center, Taxable,
Rev., AGM, 1.36%, 09/01/2024		800		787
Rev., AGM, 1.39%, 09/01/2025		600		568
Tarrant County Cultural Education Facilities Finance Corp., Methodist Hospitals of Dallas,
Rev., 5.00%, 10/01/2030		1,000		1,124
Rev., 5.00%, 10/01/2037		1,000		1,120
Texas A&M University, Financing System, Series B, Rev., 4.00%, 05/15/2043		20,595		20,146
Texas Department of Housing & Community Affairs,
Series A, Rev., GNMA COLL, 4.00%, 03/01/2050		345		342
Series B, Rev., GNMA COLL, 6.00%, 03/01/2053		585		635
Series C, Rev., GNMA COLL, 6.00%, 03/01/2054		3,155		3,483
Texas Department of Housing & Community Affairs, Aspen Park, Rev., 5.00%, 03/01/2041 (z)		1,225		1,236
Texas Department of Housing & Community Affairs, Social Bond, Series A, Rev., GNMA, 3.50%, 07/01/2052		1,095		1,070
Texas Department of Housing & Community Affairs, Social Bonds, Series A, Rev., GNMA, 3.00%, 01/01/2052		1,940		1,869
Texas Department of Housing & Community Affairs, Sustainable Bond, Series B, Rev., GNMA COLL, 5.75%, 01/01/2053		985		1,046
Texas Municipal Gas Acquisition & Supply Corp. III,
Rev., 5.00%, 12/15/2025		1,305		1,324
Rev., 5.00%, 12/15/2030		3,300		3,499
Rev., 5.00%, 12/15/2031		2,000		2,136
Texas Municipal Gas Acquisition & Supply Corp. IV,
Series A, Rev., 5.50%, 01/01/2054 (z)		15,640		16,926
Series B, Rev., 5.50%, 01/01/2054 (z)		9,795		10,963

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Municipal Gas Acquisition and Supply Corp. I, Series D, Rev., 6.25%, 12/15/2026		3,560		3,695
Texas Municipal Power Agency, Rev., AGM, 3.00%, 09/01/2038		500		447
Texas Private Activity Bond Surface Transportation Corp., Rev., AMT, 5.00%, 06/30/2058		25,555		25,847
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group,
Rev., 4.00%, 12/31/2030		3,970		4,139
Rev., 4.00%, 06/30/2033		1,000		1,036
Texas Private Activity Bond Surface Transportation Corp., Senior Lien Blueridge Transport,
Rev., AMT, 5.00%, 12/31/2045		3,000		3,003
Rev., AMT, 5.00%, 12/31/2050		2,000		1,978
Texas Private Activity Bond Surface Transportation Corp., Senior Lien Bond,
Rev., AMT, 5.38%, 06/30/2037		1,750		1,892
Rev., AMT, 5.38%, 06/30/2038		3,955		4,257
Rev., AMT, 5.50%, 06/30/2041		1,425		1,530
Rev., AMT, 5.50%, 06/30/2043		2,750		2,947
Texas State Affordable Housing Corp., Juniper Creek Apartments, Rev., 3.75%, 07/01/2044 (z)		485		482
Texas State Affordable Housing Corp., Norman Commons, Rev., 3.63%, 01/01/2045 (z)		565		559
Texas Transportation Commission, GO, 5.00%, 04/01/2025		1,045		1,063
Texas Transportation Commission, Transportation Commission Mobility, GO, 0.65%, 10/01/2041 (z)		4,500		4,179
Texas Water Development Board,
Rev., 5.00%, 08/01/2025		1,300		1,330
Rev., 5.00%, 08/01/2026		2,250		2,352
Series A, Rev., 5.00%, 10/15/2028		115		126
Texas Water Development Board, Master Trust, Rev., 4.00%, 10/15/2033		1,000		1,061
Texas Water Development Board, Revolving Fund,
Rev., 4.00%, 08/01/2038		500		517
Rev., 5.00%, 08/01/2024		250		251
Rev., 5.00%, 08/01/2028		625		682
Series A, Rev., 5.00%, 10/15/2028		100		108
Texas Water Development Board, State Revolving Fund,
Rev., 4.00%, 08/01/2037		2,015		2,097
Rev., 5.00%, 08/01/2027		2,835		3,027
Texas Water Development Board, State Water Implementation Fund,
Rev., 3.00%, 10/15/2033		2,000		1,916
Series A, Rev., 4.00%, 10/15/2033		1,900		1,952
Series A, Rev., 5.00%, 04/15/2026		100		104
Series A, Rev., 5.00%, 10/15/2030		500		513
Series A, Rev., 5.00%, 10/15/2047		2,480		2,582
Series B, Rev., 5.00%, 04/15/2049		11,535		12,098
Texas Water Development Board, State Water Implementation Revenue, Rev., 5.25%, 10/15/2046		2,000		2,070
Tomball Independent School District, School Building, Series B2, GO, PSF-GTD, 0.26%, 02/15/2039 (z)		3,055		3,006
Travis County Housing Finance Corp., Airport Gateway Apartments, Rev., 4.13%, 06/01/2045 (z)		190		190
Trinity River Authority Central Regional Wastewater System Revenue, Rev., 5.00%, 08/01/2029		1,500		1,665
University of Houston,
Series A, Rev., 5.00%, 02/15/2034		2,000		2,310
Series A, Rev., 5.00%, 02/15/2041		2,000		2,212

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
University of Texas, Series C, Rev., 5.00%, 08/15/2028		100		109
Uptown Development Authority,
Tax Allocation, 4.00%, 09/01/2033		400		396
Tax Allocation, 4.00%, 09/01/2035		995		966
Waco Educational Finance Corp., Baylor University Issue,
Rev., 5.00%, 03/01/2035		1,500		1,694
Series A, Rev., 4.00%, 03/01/2036		750		769
Waller Consolidated Independent School District,
GO, BAM, 5.00%, 02/15/2040		2,800		3,114
GO, BAM, 5.00%, 02/15/2042		6,550		7,212
Waxahachie Independent School District,
GO, PSF-GTD, 4.25%, 02/15/2053		1,670		1,664
GO, PSF-GTD, 5.00%, 02/15/2028		1,250		1,342
GO, PSF-GTD, 5.00%, 02/15/2029		1,370		1,503
GO, PSF-GTD, 5.00%, 02/15/2035		1,135		1,330
				952,774
Utah — 0.6%
Canyons School District, Series B, GO, SCH BD GTY, 5.00%, 06/15/2027		1,000		1,066
City of Salt Lake City Airport Revenue,
Series A, Rev., AMT, 5.00%, 07/01/2028		1,875		1,991
Series A, Rev., AMT, 5.00%, 07/01/2037		5,000		5,419
Series A, Rev., AMT, 5.00%, 07/01/2046		5,000		5,240
Series A, Rev., AMT, 5.00%, 07/01/2047		2,560		2,601
Series A, Rev., AMT, 5.25%, 07/01/2040		2,400		2,658
Series A, Rev., AMT, 5.25%, 07/01/2041		1,000		1,102
Series A, Rev., AMT, 5.25%, 07/01/2042		2,750		3,019
Series A, Rev., AMT, 5.25%, 07/01/2048		2,750		2,960
County of Utah, IHC Health Services, Inc.,
Series A, Rev., 4.00%, 05/15/2045		5,000		4,833
Series B, Rev., 5.00%, 05/15/2060 (z)		625		645
Downtown East Streetcar Sewer Public Infrastructure District, Senior Lien, Series A, GO, 6.00%, 03/01/2053 (e)		1,415		1,395
Intermountain Power Agency, Series A, Rev., 5.00%, 07/01/2030		500		568
Provo School District, GO, SCH BD GTY, 5.00%, 06/15/2028		2,000		2,176
Red Bridge Public Infrastructure District No. 1, Senior Infrastructure District, Series 1A, GO, 3.63%, 02/01/2035 (e)		600		492
State of Utah,
GO, 3.00%, 07/01/2034		2,000		1,912
GO, 5.00%, 07/01/2024		100		100
Series B, GO, 5.00%, 07/01/2029		100		111
University of Utah (The), Series A, Rev., 5.00%, 08/01/2039		1,505		1,576
University of Utah, Board of Regents, Series A, Rev., 4.00%, 08/01/2040		1,750		1,775
Utah Housing Corp.,
Series A, Rev., GNMA/FNMA/FHLMC, 6.50%, 01/01/2054		1,445		1,599
Series C, Rev., GNMA/FNMA/FHLMC, 4.45%, 01/01/2044		1,350		1,346
Series C, Rev., GNMA/FNMA/FHLMC, 4.65%, 01/01/2049		2,000		1,998
Series C, Rev., GNMA/FNMA/FHLMC, 6.00%, 07/01/2054		2,000		2,212

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Utah — continued
Utah Housing Corp., Drawdown New City, Rev., HUD, 3.50%, 08/01/2025 (z)		900		896
Utah Telecommunication Open Infrastructure Agency,
Rev., 5.00%, 06/01/2025		115		117
Rev., 5.00%, 06/01/2027		130		137
Rev., 5.00%, 06/01/2031		210		236
Rev., 5.25%, 06/01/2035		700		810
Rev., 5.25%, 06/01/2037		2,250		2,574
Utah Transit Authority, Series A, Rev., 4.00%, 06/15/2036 (p)		1,500		1,513
Vineyard Redevelopment Agency, Tax Allocation, AGM, 5.00%, 05/01/2024		190		190
				55,267
Vermont — 0.0% (g)
Vermont Housing Finance Agency, Series A, Rev., GNMA/FNMA/FHLMC, 4.00%, 11/01/2049		250		248
Vermont Municipal Bond Bank, Vermont State Colleges System, Series A, Rev., 4.00%, 10/01/2034		250		261
Vermont Student Assistance Corp., Series A, Rev., AMT, 2.38%, 06/15/2039		475		432
				941
Virginia — 1.9%
Albemarle County Economic Development Authority, Westminster Canterbury of the Blue Ridge, Rev., 4.00%, 06/01/2035		1,365		1,372
Chesapeake Bay Bridge & Tunnel District, First Tier General Resolution, Rev., 5.00%, 07/01/2051		7,145		7,170
Commonwealth of Virginia, Series B, GO, 5.00%, 06/01/2027		1,000		1,043
County of Fairfax Sewer Revenue, Series A, Rev., 5.00%, 07/15/2037 (w)		685		809
County of Fairfax, Public Improvement, Series A, GO, 5.00%, 10/01/2031 (p)		945		980
County of Henrico Water & Sewer Revenue, Rev., 5.00%, 05/01/2046 (p)		1,000		1,039
Fairfax County Industrial Development Authority, Inova Health System Project,
Rev., 4.00%, 05/15/2042		5,000		4,985
Rev., 5.00%, 05/15/2029		2,000		2,216
Fairfax County Redevelopment & Housing Authority, Arrowbrook Apartments Project, Rev., 3.80%, 01/01/2041 (z)		2,250		2,245
Fairfax County Redevelopment & Housing Authority, Dominion Square North Project, Rev., 5.00%, 01/01/2045 (z)		2,250		2,342
Fairfax County Redevelopment & Housing Authority, One University Senior Apartments, Rev., 1.25%, 12/01/2025 (z)		4,680		4,580
FHLMC Multifamily VRD Certificates, Series A, Rev., 2.25%, 12/15/2037		960		742
Gloucester County Economic Development Authority, Waste Management Services, Rev., AMT, 3.95%, 09/01/2038 (z)		1,970		1,969
Hampton Roads Transportation Accountability Commission, Series A, Rev., BAN, 5.00%, 07/01/2027		6,310		6,712
Hampton Roads Transportation Accountability Commission, Senior Lien,
Series A, Rev., BAN, 5.00%, 07/01/2026 (p)		1,130		1,175
Series A, Rev., 5.00%, 07/01/2031		1,500		1,702
Series A, Rev., 5.00%, 07/01/2038 (p)		1,000		1,081
Series A, Rev., 5.00%, 07/01/2039		2,100		2,309
Henrico County Economic Development Authority, Westminster Canterbury Richmond, Rev., 5.00%, 10/01/2042		100		104
Isle of Wight County Economic Development Authority, Riverside Health System,
Rev., AGM, 5.00%, 07/01/2036		750		841
Rev., AGM, 5.00%, 07/01/2037		500		555
Rev., AGM, 5.25%, 07/01/2043		1,620		1,806
Rev., AGM, 5.25%, 07/01/2053		5,000		5,438

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
James City County Economic Development Authority, Williamsburg Landing, Series A, Rev., 4.00%, 12/01/2035		150		143
Louisa Industrial Development Authority, Virginia Electric and Power Co. Project, Series B, Rev., 0.75%, 11/01/2035 (z)		2,125		1,985
Lynchburg Economic Development Authority, Centra Health Obligation Group,
Rev., 3.00%, 01/01/2051		4,750		3,436
Rev., 5.00%, 01/01/2029		700		743
Norfolk Airport Authority, Rev., 5.00%, 07/01/2038		1,175		1,253
Norfolk Redevelopment & Housing Authority, Braywood Manor Apartments Project, Rev., HUD, 5.00%, 05/01/2043 (z)		350		357
Norfolk Redevelopment & Housing Authority, Fort Norfolk Retirement Community Harbor, Rev., 4.38%, 01/01/2039		1,400		1,228
Roanoke Economic Development Authority, Carilion Clinic Obligation Group, Rev., 5.00%, 07/01/2047		2,000		2,275
Southampton County Industrial Development Authority, PRTI-Virginia One LLC, Rev., AMT, 4.88%, 11/01/2053 (z)		4,940		4,934
Upper Occoquan Sewage Authority,
Rev., 4.00%, 07/01/2033 (p)		2,630		2,655
Rev., 5.00%, 07/01/2027 (p)		2,485		2,538
Virginia Beach Development Authority, Temps 50Sm Westminster Canterbury, Rev., 5.38%, 09/01/2029		2,000		2,080
Virginia Beach Development Authority, Westminster Canterbury, Rev., 5.00%, 09/01/2044		2,215		2,187
Virginia Beach Development Authority, Westminster Canterbury on Chesapeake Bay, Rev., 6.50%, 09/01/2043		3,300		3,668
Virginia College Building Authority, Series A, Rev., 4.00%, 02/01/2034		3,500		3,652
Virginia College Building Authority, 21st Century College & Equipment, Rev., 5.00%, 02/01/2028		1,000		1,084
Virginia College Building Authority, 21st Century College and Equipment,
Rev., 4.00%, 02/01/2040		1,815		1,847
Rev., 5.00%, 02/01/2029		1,000		1,109
Rev., 5.00%, 02/01/2033		3,750		4,206
Virginia College Building Authority, Marymount University Project, Series A, Rev., 5.00%, 07/01/2045 (e)		1,000		939
Virginia Housing Development Authority,
Series E1, Rev., 4.35%, 10/01/2044		685		675
Series G, Rev., 5.05%, 11/01/2047		1,750		1,851
Virginia Port Authority, Series B, Rev., AMT, 5.00%, 07/01/2045		5,000		5,034
Virginia Port Authority Commonwealth Port Fund, Rev., AMT, 5.00%, 07/01/2039 (p)		1,955		1,987
Virginia Public Building Authority, Bidding Group 1, Series A, Rev., 5.00%, 08/01/2033		1,000		1,175
Virginia Public School Authority, Series B, Rev., 5.00%, 08/01/2052		3,670		3,963
Virginia Resources Authority Clean Water Revolving Fund, Revolving Fund, Series B, Rev., 4.00%, 10/01/2027		5,000		5,010
Virginia Resources Authority, Virginia Pooled Financing, Rev., 5.00%, 11/01/2028		1,510		1,656
Virginia Resources Authority, Virginia Pooled Financing Program, Rev., 5.00%, 11/01/2028		1,000		1,100
Virginia Small Business Financing Authority, National Senior Campuses,
Series A, Rev., 5.00%, 01/01/2025		700		702
Series A, Rev., 5.00%, 01/01/2032		1,500		1,583
Virginia Small Business Financing Authority, Senior Lien 95 Express,
Rev., AMT, 5.00%, 07/01/2032		400		436
Rev., AMT, 5.00%, 07/01/2033		2,320		2,527

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Rev., AMT, 5.00%, 01/01/2036		200		216
Rev., AMT, 5.00%, 07/01/2037		1,000		1,067
Virginia Small Business Financing Authority, Senior Lien, 495 Hot,
Rev., AMT, 5.00%, 06/30/2040		3,735		3,942
Rev., AMT, 5.00%, 06/30/2041		3,470		3,656
Rev., AMT, 5.00%, 12/31/2047		1,000		1,034
Virginia Small Business Financing Authority, Senior Lien, Elizabeth River,
Rev., AMT, 3.00%, 01/01/2041		8,740		7,094
Rev., AMT, 4.00%, 01/01/2030		3,125		3,171
Rev., AMT, 4.00%, 01/01/2033		1,500		1,527
Rev., AMT, 4.00%, 01/01/2034		2,250		2,289
Virginia Small Business Financing Authority, Transform 66 P3 Project,
Rev., AMT, 5.00%, 12/31/2047		2,575		2,603
Rev., AMT, 5.00%, 12/31/2052		8,425		8,482
Rev., AMT, 5.00%, 12/31/2056		5,000		5,028
Williamsburg Economic Development Authority, Williamsburg Properties LLC,
Rev., AGM, 4.00%, 07/01/2048		1,245		1,212
Rev., AGM, 5.25%, 07/01/2053		5,100		5,586
Wise County Industrial Development Authority, Electric and Power Company Project, Series A, Rev., 0.75%, 10/01/2040 (z)		4,500		4,204
				174,344
Washington — 3.0%
Central Puget Sound Regional Transit Authority Sales & Rental Car Taxes Revenue, Series S1, Rev., 5.00%, 11/01/2035 (p)		1,085		1,115
Chelan County Public Utility District No. 1, Series C, Rev., AMT, 5.00%, 07/01/2026		1,285		1,329
City of Seattle Municipal Light & Power Revenue,
Rev., 4.00%, 09/01/2040		1,000		1,000
Series B, Rev., (SIFMA Municipal Swap Index + 0.25%), 3.89%, 05/01/2045 (aa)		2,000		1,950
City of Seattle Municipal Light & Power Revenue, Green Bond, Series A, Rev., 4.00%, 07/01/2040		1,300		1,320
City of Seattle, Drainage & Wastewater Revenue, Rev., 4.00%, 05/01/2044		945		925
City of Tacoma, Electric System Revenue, Series A, Rev., 4.00%, 01/01/2042		5,460		5,355
Clark County Public Utility District No. 1, Rev., 4.00%, 01/01/2034		665		702
County of Grant, GO, 5.25%, 12/01/2047		1,000		1,094
County of King,
GO, 5.00%, 12/01/2042		5,155		5,841
Series A, GO, 5.00%, 12/01/2034		1,335		1,527
County of King, Sewer Revenue, Rev., AGM, 5.00%, 01/01/2047 (p)		5,000		5,013
Energy Northwest Washington, Project 3 Electric Revenue, Series C, Rev., 5.00%, 07/01/2027		100		107
Energy Northwest, Columbia Generating Station, Rev., 4.00%, 07/01/2042		1,625		1,629
Energy Northwest, Project 1, Series A, Rev., 5.00%, 07/01/2028		4,550		4,642
Grant County Public Utility District No. 2 Priest Rapids Hydroelectric Project,
Rev., 5.00%, 01/01/2040		1,250		1,404
Series A, Rev., 5.00%, 01/01/2043 (p)		1,555		1,605
Grant County, Public Utility District No. 2, Electric Revenue,
Series 2017-O, Rev., 5.00%, 01/01/2047		4,950		5,158
Series R, Rev., 2.00%, 01/01/2044 (z)		1,500		1,464
Jefferson County Public Hospital District No. 2, Jefferson Healthcare, Series A, Rev., 6.63%, 12/01/2043		7,500		7,703

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
King & Snohomish Counties School District No. 417 Northshore, GO, SCH BD GTY, 4.00%, 12/01/2032		1,000		1,001
King County Housing Authority, Rev., 5.00%, 11/01/2029		1,325		1,427
King County Public Hospital District No. 4, GO, 5.00%, 12/01/2038		1,000		1,002
King County School District No. 401 Highline, GO, SCH BD GTY, 5.00%, 12/01/2041		5,030		5,647
King County School District No. 405 Bellevue,
GO, SCH BD GTY, 3.00%, 12/01/2037		5,385		4,952
GO, SCH BD GTY, 3.00%, 12/01/2038		1,925		1,734
Pierce County School District No. 10 Tacoma, Social Bonds, Series B, GO, SCH BD GTY, 4.00%, 12/01/2042		10,000		10,029
Port of Seattle,
Series A, Rev., AMT, 5.00%, 05/01/2036		2,000		2,041
Series B, Rev., AMT, 5.00%, 05/01/2028		4,000		4,239
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		1,032
Rev., 5.00%, 02/01/2028		900		926
Rev., AMT, 5.00%, 04/01/2028		2,250		2,381
Rev., AMT, 5.00%, 08/01/2028		1,000		1,064
Rev., AMT, 5.00%, 04/01/2030		4,000		4,271
Rev., AMT, 5.00%, 04/01/2032		2,110		2,251
Rev., AMT, 5.00%, 04/01/2044		2,000		2,068
Rev., AMT, 5.00%, 08/01/2046		3,500		3,658
Rev., AMT, 5.00%, 08/01/2047		1,250		1,308
Rev., AMT, 5.50%, 08/01/2047		1,000		1,091
Series C, Rev., AMT, 5.00%, 05/01/2026		1,000		1,027
Series C, Rev., AMT, 5.00%, 05/01/2034		3,455		3,543
Series C, Rev., AMT, 5.00%, 08/01/2034		5,000		5,479
Seattle Housing Authority, Lam Bow Apartments Project, Rev., 1.25%, 06/01/2024		120		119
Seattle Housing Authority, Northgate Plaza Project, Rev., 1.00%, 06/01/2026		2,045		1,909
Skagit County Public Hospital District No. 1, Rev., 5.50%, 12/01/2054		4,500		4,778
Skagit County Public Hospital District No. 1, Improvement Skagit Regional Health, Rev., 5.00%, 12/01/2031		2,145		2,184
Snohomish County School District No. 201 Snohomish, GO, SCH BD GTY, 5.00%, 12/01/2028		1,500		1,647
Spokane County School District No. 81 Spokane, Series C, GO, SCH BD GTY, 5.00%, 12/01/2034		2,000		2,136
State of Washington,
Series 2020A, GO, 5.00%, 08/01/2038		1,500		1,635
Series 2021A, GO, 5.00%, 06/01/2034		1,000		1,129
Series A1, GO, 5.00%, 08/01/2040		13,645		13,828
Series A3, GO, 5.00%, 08/01/2044		1,000		1,104
Series A, GO, 5.00%, 08/01/2036		1,475		1,651
Series A, GO, 5.00%, 08/01/2040		3,890		4,269
Series B, GO, 5.00%, 07/01/2025		75		77
Series B, GO, 5.00%, 07/01/2027		1,000		1,030
Series B, GO, 5.00%, 06/01/2035		4,760		5,347
Series B, GO, 5.00%, 02/01/2044		3,000		3,325
Series B, GO, 5.00%, 06/01/2045		2,900		3,214
Series D, GO, 4.00%, 07/01/2033		2,000		2,136

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 F, GO, AMBAC, Zero Coupon, 12/01/2029		1,000		841
Series R, GO, 5.00%, 02/01/2031		1,000		1,144
Series R, GO, 5.00%, 08/01/2031		750		865
Series R, GO, 5.00%, 08/01/2040 (w)		1,545		1,778
Series RC, GO, 5.00%, 08/01/2029		100		107
Series R-2015E, GO, 5.00%, 07/01/2025		1,000		1,012
Series R-2017A, GO, 5.00%, 08/01/2027		1,000		1,040
Series R-2017A, GO, 5.00%, 08/01/2034		1,840		1,913
Series R-2022B, GO, 4.00%, 02/01/2035		500		533
Series R-2022D, GO, 4.00%, 07/01/2028		3,140		3,289
State of Washington, Bid Group 1, Series C, GO, 5.00%, 02/01/2028		1,490		1,608
State of Washington, Bid Group 2, Series C, GO, 5.00%, 02/01/2046		7,000		7,779
State of Washington, MVFT/VRF GO Bonds,
Series F, GO, 5.00%, 06/01/2034		4,080		4,685
Series F, GO, 5.00%, 06/01/2038		2,775		3,105
State of Washington, Various Purpose,
Series 2015A1, GO, 5.00%, 08/01/2036		11,200		11,236
Series A, GO, 5.00%, 08/01/2041		10,000		10,621
Thurston County School District No. 111 Olympia, GO, SCH BD GTY, 5.00%, 12/01/2026		1,275		1,341
University of Washington,
Series B, Rev., 4.00%, 06/01/2035		3,075		3,084
Series C, Rev., 5.00%, 04/01/2026		1,500		1,558
Washington Health Care Facilities Authority, Multicare Health System, Series B, Rev., 5.00%, 08/15/2037		1,200		1,250
Washington Health Care Facilities Authority, Seattle Cancer Care Alliance,
Rev., 4.00%, 12/01/2040 (e)		860		844
Rev., 5.00%, 09/01/2045		1,000		1,051
Washington Health Care Facilities Authority, Seattle Children’s Hospital, Series A, Rev., 4.00%, 10/01/2045		7,500		7,266
Washington Health Care Facilities Authority, Unrefunded Providence Health, Rev., 5.00%, 10/01/2041		8,000		7,852
Washington Health Care Facilities Authority, Unrefunded Providence Health & Services, Rev., 5.00%, 10/01/2044		4,365		4,377
Washington Health Care Facilities Authority, Virginia Mason Medical Center, Rev., 5.00%, 08/15/2036		5,500		5,616
Washington State Convention Center Public Facilities District, Subordinated Sustainable Bond, Rev., 5.00%, 07/01/2032		1,540		1,668
Washington State Housing Finance Commission,
Rev., 3.38%, 04/20/2037		2,419		2,179
Series 2N, Rev., GNMA/FNMA/FHLMC COLL, 3.00%, 12/01/2050		685		663
Series A1, Rev., 3.50%, 12/20/2035		5,714		5,298
Washington State Housing Finance Commission, Ardea at Totem Lake Apartments, Rev., 5.00%, 12/01/2043 (z)		4,900		5,022
Washington State Housing Finance Commission, Downtowner Apartments Project, Rev., LIQ: FHLMC, 3.70%, 07/01/2030		2,000		2,014
Washington State Housing Finance Commission, Social Bond, Series 2N, Rev., GNMA/FNMA/FHLMC, 3.00%, 06/01/2051		935		899
				270,110

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.2%
Monongalia County Commission Excise Tax District, Series A, Rev., 4.13%, 06/01/2043 (e)		470		417
Monongalia County Commission Special District, Refunding and Improvement, University Town Center, Series A, Rev., 5.50%, 06/01/2037 (e)		1,050		1,076
Monongalia County Commission Special District, University Town Center, Series A, Rev., 5.75%, 06/01/2043 (e)		500		513
West Virginia Economic Development Authority, Appalachian Power Company Amos Project, Rev., AMT, 1.00%, 01/01/2041 (z)		2,765		2,609
West Virginia Economic Development Authority, Provident Group Marshall Properties,
Rev., AGM, 5.00%, 07/01/2035		3,150		3,530
Rev., AGM, 5.00%, 07/01/2036		3,000		3,337
Rev., AGM, 5.00%, 07/01/2037		2,250		2,478
West Virginia Hospital Finance Authority, Improvement, University Health System Obligation, Rev., 5.00%, 06/01/2052		2,000		2,042
West Virginia Housing Development Fund, Sustainable Bonds, Series A, Rev., 4.40%, 11/01/2044		4,000		3,958
West Virginia Parkways Authority, Senior Lien, Rev., 5.00%, 06/01/2038		1,000		1,113
				21,073
Wisconsin — 2.6%
City of Milwaukee, Promissory Notes,
Series N3, GO, AGM, 5.00%, 04/01/2031		5,500		6,240
Series N4, GO, 5.00%, 04/01/2030		10,150		11,049
City of Milwaukee, Sewerage System Revenue, Series S7, Rev., 5.00%, 06/01/2026		2,665		2,744
Milwaukee Metropolitan Sewerage District, Green Bond, Series A, GO, 3.00%, 10/01/2031		1,700		1,633
Milwaukee Metropolitan Sewerage District, Green Bond Climate Bond Certificate, GO, 4.00%, 10/01/2043		6,150		6,186
Public Finance Authority, A Challenge Foundation Academy,
Rev., 6.63%, 07/01/2043 (e)		700		725
Rev., 6.88%, 07/01/2053 (e)		1,650		1,708
Public Finance Authority, Carmelite System, Social Bonds, Rev., 5.00%, 01/01/2045		1,105		1,092
Public Finance Authority, Celanese Project, Series C, Rev., AMT, 4.30%, 11/01/2030		3,000		2,958
Public Finance Authority, CFP3 Eastern Michigan University,
Rev., BAM, 5.00%, 07/01/2029		500		546
Rev., BAM, 5.25%, 07/01/2034		260		299
Rev., BAM, 5.25%, 07/01/2042		5,625		6,167
Rev., BAM, 5.38%, 07/01/2047		8,025		8,746
Rev., BAM, 5.50%, 07/01/2052		6,005		6,553
Public Finance Authority, CHF Wilmington LLC University, Rev., AGM, 5.00%, 07/01/2053		3,970		4,053
Public Finance Authority, Duke Energy Progress, Rev., 3.70%, 10/01/2046 (z)		1,525		1,534
Public Finance Authority, Ku Campus Development Corp. Project, Rev., 5.00%, 03/01/2041		3,000		3,037
Public Finance Authority, KU Campus Development Corp. Project, Rev., 5.00%, 03/01/2046		6,495		6,544
Public Finance Authority, Lenoir Rhyne University,
Rev., 5.00%, 04/01/2036		1,625		1,715
Rev., 5.00%, 04/01/2037		1,705		1,780
Public Finance Authority, Miami Waterworld Center Project, Tax Allocation, 5.00%, 06/01/2041 (e) (w)		2,670		2,595
Public Finance Authority, Point College Prep Project,
Rev., 4.00%, 06/15/2030 (e)		200		190
Rev., 5.00%, 06/15/2041 (e)		250		231

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Public Finance Authority, Renown Regional Medical Center Project,
Rev., 5.00%, 06/01/2026		500		511
Rev., 5.00%, 06/01/2027		425		440
Rev., 5.00%, 06/01/2028		600		628
Rev., 5.00%, 06/01/2034		1,000		1,075
Public Finance Authority, Senior Lien, Grand Hyatt San Antonio Hotel Acquisition Project, Rev., 5.00%, 02/01/2042		4,000		4,135
Public Finance Authority, Sky Harbour Capital LLC, Rev., AMT, 4.00%, 07/01/2036		815		696
Public Finance Authority, United Methodist Retirement, Rev., 4.00%, 10/01/2026		60		60
Public Finance Authority, Waste Management, Inc. Project,
Rev., AMT, 1.10%, 07/01/2029 (z)		1,445		1,358
Rev., AMT, 2.63%, 11/01/2025		5,000		4,892
State of Wisconsin,
Series 1, GO, 5.00%, 05/01/2027		2,400		2,548
Series 1, GO, 5.00%, 05/01/2033 (w)		770		878
Series 1, GO, 5.00%, 05/01/2035 (w)		1,375		1,600
Series 1, GO, 5.00%, 05/01/2036 (w)		1,000		1,155
Series 2, GO, 5.00%, 05/01/2034		1,000		1,186
Series 3, GO, 5.00%, 11/01/2027		1,000		1,063
Series 20212, GO, 5.00%, 05/01/2026		5,850		6,077
Series B, GO, 4.00%, 05/01/2039		500		508
Series B, GO, 5.00%, 05/01/2035		10,580		11,709
University of Wisconsin Hospitals & Clinics, Green Bond University of Wisconsin Hospital, Rev., 4.00%, 04/01/2035		440		457
University of Wisconsin Hospitals & Clinics, Green Bonds, Rev., 4.00%, 04/01/2046		4,120		3,932
Wisconsin Center District, Capital Appreciation Senior Dedicated,
Series C, Rev., AGM, Zero Coupon, 12/15/2036		1,550		933
Series C, Rev., AGM, Zero Coupon, 12/15/2039		1,750		894
Series C, Rev., AGM, Zero Coupon, 12/15/2040		1,650		793
Series D, Rev., AGM, Zero Coupon, 12/15/2028		545		463
Wisconsin Center District, Junior Dedicated, Series D, Rev., AGM, Zero Coupon, 12/15/2045		8,500		3,101
Wisconsin Department of Transportation, Series A, Rev., 5.00%, 07/01/2027		1,675		1,788
Wisconsin Health & Educational Facilities Authority,
Rev., 5.00%, 10/01/2029		5,940		6,565
Rev., 5.00%, 10/01/2030		6,355		7,155
Wisconsin Health & Educational Facilities Authority Revenue, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2027		500		536
Wisconsin Health & Educational Facilities Authority Revenue, Marshfield Clinic Health System, Series B1, Rev., 5.00%, 02/15/2052 (z)		2,000		2,000
Wisconsin Health & Educational Facilities Authority, Advocate Aurora Health Care,
Rev., 4.00%, 08/15/2035		1,250		1,267
Rev., 4.00%, 08/15/2037		1,605		1,622
Rev., 4.00%, 08/15/2038		1,680		1,689
Wisconsin Health & Educational Facilities Authority, Advocate Aurora Healthcare, Rev., 5.00%, 08/15/2054 (z)		2,590		2,665
Wisconsin Health & Educational Facilities Authority, Ascension Health Alliance Senor, Rev., 4.00%, 11/15/2043		2,045		1,973
Wisconsin Health & Educational Facilities Authority, Ascension Health Credit Group,
Rev., 4.00%, 11/15/2039		10,500		10,318
Rev., 5.00%, 11/15/2035		4,500		4,623

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Health & Educational Facilities Authority, Ascension Senior Credit Group, Rev., 5.00%, 11/15/2036		1,500		1,537
Wisconsin Health & Educational Facilities Authority, Aspirus, Inc. Obligated Group, Rev., 5.00%, 08/15/2038		1,000		1,066
Wisconsin Health & Educational Facilities Authority, Bellin Memorial Hospital, Inc.,
Rev., 5.00%, 12/01/2045		2,500		2,658
Series B, Rev., 5.25%, 12/01/2048		3,000		3,163
Wisconsin Health & Educational Facilities Authority, Beloit Health System, Inc., Rev., 4.00%, 07/01/2046		1,870		1,711
Wisconsin Health & Educational Facilities Authority, Forensic Science and Protective Medicine Facility Project, Rev., 5.00%, 08/01/2027 (e)		7,000		7,158
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Series A, Rev., 4.00%, 04/01/2039		2,710		2,719
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Inc.,
Series A, Rev., 5.00%, 04/01/2030		1,280		1,414
Series A, Rev., 5.00%, 04/01/2033		1,010		1,139
Wisconsin Health & Educational Facilities Authority, Froedtert Health, Inc. Obligated,
Rev., 4.00%, 04/01/2039		5,000		4,861
Rev., 5.00%, 04/01/2035		1,325		1,382
Wisconsin Health & Educational Facilities Authority, Gundersen Health System,
Rev., 4.00%, 10/15/2035		545		561
Rev., 4.00%, 10/15/2036		2,100		2,148
Wisconsin Health & Educational Facilities Authority, Marshfield Clinic Health System,
Rev., 5.00%, 02/15/2047		1,000		979
Rev., 5.00%, 02/15/2051 (z)		2,600		2,659
Series B, Rev., 5.00%, 02/15/2042		1,000		1,005
Series B, Rev., 5.00%, 02/15/2046		8,935		8,780
Wisconsin Health & Educational Facilities Authority, ProHealth Care Obligation Group, Rev., 5.00%, 08/15/2039		2,000		2,004
Wisconsin Health & Educational Facilities Authority, The Medical College of Wisconsin, Rev., 4.00%, 12/01/2046		3,000		2,874
Wisconsin Health & Educational Facilities Authority, The Milwaukee Regional Medical Center, Rev., 5.00%, 04/01/2044		2,500		2,580
Wisconsin Housing & Economic Development Authority,
Series B, Rev., HUD, 0.50%, 11/01/2050 (z)		245		238
Series D, Rev., 4.00%, 03/01/2047		75		74
Wisconsin Housing & Economic Development Authority Home Ownership Revenue, Sustainable Bond, Series A, Rev., GNMA/FNMA/FHLMC, 4.38%, 09/01/2044		5,000		4,927
Wisconsin Housing & Economic Development Authority Housing Revenue, Series E, Rev., HUD, 3.88%, 11/01/2054 (z)		830		827
Wisconsin Housing & Economic Development Authority, Social Bond, Series A, Rev., 3.00%, 03/01/2052		740		712
Wisconsin Housing & Economic Development Authority, Social Bonds, Series C, Rev., GNMA/FHLMC/FNMA COLL, 3.00%, 09/01/2052		1,160		1,117
				231,911

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Wyoming — 0.2%
Consolidated Municipalities Electric Power Systems Joint Powers Board, Rev., 5.25%, 06/01/2039		1,000		1,117
County of Laramie, Cheyenne Regional Medical Center, Rev., 4.00%, 05/01/2026		615		622
County of Lincoln, Pacificorp, Rev., VRDO, 4.25%, 04/04/2024 (z)		10,000		10,000
County of Sweetwater, Idaho Power Company Project, Rev., 1.70%, 07/15/2026		1,045		984
Wyoming Community Development Authority,
Series 2, Rev., 3.00%, 06/01/2049		1,050		1,016
Series 2, Rev., VRDO, LIQ: Royal Bank of Canada, 3.62%, 04/04/2024 (z)		3,000		3,000
Series 3, Rev., GNMA/FHLMC/FNMA COLL, 3.00%, 06/01/2050		1,350		1,312
Series 3, Rev., GNMA/FNMA/FHLMC, 4.70%, 12/01/2043		5,000		5,045
				23,096
Total Municipal Bonds (Cost $9,005,649)				8,856,669
Short-Term Investments — 1.2%
Municipal Bonds — 0.2% (t)
Chicago Midway International Airport, Senior, Series C, Rev., AMT, 5.00%, 01/01/2025		3,000		3,021
City of Danbury, GO, BAN, 5.00%, 09/24/2024 (e)		5,000		5,027
Puerto Rico Electric Power Authority, Series AAA, Rev., 5.25%, 07/01/2024 (d)		2,450		643
The School District of Philadelphia, Series A, Rev., TRAN, 5.00%, 06/28/2024		5,000		5,011
Total Municipal Bonds				13,702
Time Deposits — 1.0%
Australia & New Zealand Banking Group Ltd., 4.68%, 03/29/2024		1,416		1,416
Citibank NA, 4.68%, 03/29/2024		15,856		15,856
Sumitomo Mitsui Banking Corp., 4.68%, 03/29/2024		5,402		5,402
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 03/29/2024		69,903		69,903
Total Time Deposits				92,577
Total Short-Term Investments (Cost $108,098)				106,279
Total Investments — 99.4% (Cost - $9,114,615)*				8,963,431
Other Assets in Excess of Liabilities — 0.6%				58,856
NET ASSETS — 100.0%			$	9,022,287

Percentages indicated are based on net assets.

Six Circles Tax Aware Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 MARCH 31, 2024

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
LOC	—	Letter of Credit
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
TRAN	—	Tax & Revenue Anticipation Note
VRDO	—	Variable Rate Demand Obligation. The interest rate shown is the rate in effect as of March 31, 2024.
(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 March 31, 2024.
(aa)	—	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of March 31, 2024.
*	—	The cost of securities is substantially the same for federal income tax purposes.
USD	—	United States Dollar

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 1.8%
Affirm Asset Securitization Trust, Series 2023-B, Class A, 6.82%, 09/15/2028 (e)		500		508
Americredit Automobile Receivables Trust,
Series 2023-1, Class A2A, 5.84%, 10/19/2026		204		204
Series 2023-1, Class A3, 5.62%, 11/18/2027		225		226
Series 2023-1, Class C, 5.80%, 12/18/2028		100		101
AMMC CLO 23 Ltd., (Cayman Islands), Series 2020-23A, Class A1R, (CME Term SOFR 3 Month + 1.30%), 6.62%, 10/17/2031 (e) (aa)		1,740		1,741
ARES L CLO Ltd., (Cayman Islands), Series 2018-50A, Class AR, (CME Term SOFR 3 Month + 1.31%), 6.63%, 01/15/2032 (e) (aa)		300		300
Avis Budget Rental Car Funding AESOP LLC, Series 2020-2A, Class A, 2.02%, 02/20/2027 (e)		1,150		1,085
BA Credit Card Trust, Series 2023-A2, Class A2, 4.98%, 11/15/2028		70		70
Bain Capital Credit CLO 2019-1, (Cayman Islands), Series 2019-1A, Class AR, (CME Term SOFR 3 Month + 1.39%), 6.70%, 04/19/2034 (e) (aa)		1,500		1,497
Ballyrock CLO 2019-2 Ltd., (Cayman Islands), Series 2019-2A, Class A1RR, (CME Term SOFR 3 Month + 1.40%), 6.72%, 02/20/2036 (e) (aa)		1,000		1,001
Bayview Opportunity Master Fund VII LLC, Series 2024-CAR1, Class A, (United States 30 Day Average SOFR + 1.10%), 0.00%, 12/26/2031 (e) (w) (aa) (cc)		310		310
Benefit Street Partners CLO IV Ltd., (Cayman Islands), Series 2014-IVA, Class AR4, (CME Term SOFR 3 Month + 1.35%), 6.67%, 04/20/2034 (e) (aa)		610		608
BlueMountain CLO 2016-2 Ltd., (Cayman Islands), Series 2016-2A, Class A1R2, (CME Term SOFR 3 Month + 1.38%), 6.70%, 08/20/2032 (e) (aa)		14,500		14,476
BMW Vehicle Lease Trust,
Series 2023-1, Class A2, 5.27%, 02/25/2025		88		89
Series 2023-1, Class A3, 5.16%, 11/25/2025		3,675		3,666
Capital One Multi-Asset Execution Trust,
Series 2022-A1, Class A1, 2.80%, 03/15/2027		1,110		1,084
Series 2022-A2, Class A, 3.49%, 05/15/2027		1,375		1,347
Carlyle Global Market Strategies CLO Ltd., (Cayman Islands),
Series 2015-4A, Class A1JR, (CME Term SOFR 3 Month + 1.55%), 0.00%, 07/20/2032 (e) (w) (aa)		1,500		1,500
Series 2015-5A, Class A1RR, (CME Term SOFR 3 Month + 1.34%), 6.66%, 01/20/2032 (e) (aa)		3,737		3,738
CARLYLE US CLO 2018-2 Ltd., (Cayman Islands), Series 2018-2A, Class A2R, (CME Term SOFR 3 Month + 1.80%), 7.13%, 10/15/2031 (e) (aa)		1,210		1,210
Carvana Auto Receivables Trust,
Series 2021-N1, Class A, 0.70%, 01/10/2028		107		102
Series 2022-P1, Class A3, 3.35%, 02/10/2027		448		441
Cedar Funding IX CLO Ltd., (Cayman Islands), Series 2018-9A, Class A1, (CME Term SOFR 3 Month + 1.24%), 6.56%, 04/20/2031 (e) (aa)		227		227

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
CIFC Funding Ltd., (Cayman Islands), Series 2013-2A, Class A1L2, (CME Term SOFR 3 Month + 1.26%), 6.56%, 10/18/2030 (e) (aa)		347		347
Citizens Auto Receivables Trust,
Series 2023-1, Class A3, 5.84%, 01/18/2028 (e)		1,535		1,548
Series 2023-2, Class A2A, 6.09%, 10/15/2026 (e)		962		964
Credit Acceptance Auto Loan Trust,
Series 2021-3A, Class A, 1.00%, 05/15/2030 (e)		301		299
Series 2023-1A, Class A, 6.48%, 03/15/2033 (e)		1,630		1,648
Discover Card Execution Note Trust,
Series 2022-A3, Class A3, 3.56%, 07/15/2027		1,410		1,379
Series 2023-A2, Class A, 4.93%, 06/15/2028		205		205
Dryden CLO Ltd., (Jersey), Series 2022-113A, Class A1R, (CME Term SOFR 3 Month + 1.63%), 7.05%, 10/20/2035 (e) (aa)		500		502
Elmwood CLO 18 Ltd., (Cayman Islands), Series 2022-5A, Class AR, (CME Term SOFR 3 Month + 1.65%), 6.97%, 07/17/2033 (e) (aa)		250		250
Elmwood CLO VII Ltd., (Cayman Islands), Series 2020-4A, Class AR, (CME Term SOFR 3 Month + 1.63%), 6.95%, 01/17/2034 (e) (aa)		250		251
Elmwood CLO X Ltd., (Cayman Islands), Series 2021-3A, Class A, (CME Term SOFR 3 Month + 1.30%), 6.62%, 10/20/2034 (e) (aa)		1,530		1,530
Exeter Automobile Receivables Trust, Series 2021-2A, Class C, 0.98%, 06/15/2026		80		80
First Investors Auto Owner Trust, Series 2022-2A, Class A, 6.26%, 07/15/2027 (e)		146		146
Flagship Credit Auto Trust, Series 2023-1, Class A3, 5.01%, 08/16/2027 (e)		350		348
Ford Credit Auto Lease Trust,
Series 2024-A, Class A3, 5.06%, 05/15/2027		315		314
Series 2024-A, Class B, 5.29%, 06/15/2027		1,230		1,227
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19%, 07/15/2031 (e)		850		834
Generate CLO 2 Ltd., (Cayman Islands), Series 2A, Class AR, (CME Term SOFR 3 Month + 1.41%), 6.73%, 01/22/2031 (e) (aa)		1,870		1,873
GM Financial Automobile Leasing Trust,
Series 2022-2, Class A3, 3.42%, 06/20/2025		454		452
Series 2023-1, Class A3, 5.16%, 04/20/2026		655		654
GM Financial Consumer Automobile Receivables Trust, Series 2024-1, Class A3, 4.85%, 12/18/2028		1,135		1,132
GreatAmerica Leasing Receivables, Series 2024-1, Class A4, 5.08%, 12/16/2030 (e)		775		772
Greenland Global Investment Ltd., (British Virgin Islands), Reg. S, 8.25% (PIK), 01/22/2031 (v)		3,903		433
GREYWOLF CLO VI Ltd., (Cayman Islands), Series 2018-1A, Class A1, (CME Term SOFR 3 Month + 1.29%), 6.61%, 04/26/2031 (e) (aa)		2,209		2,210
Honda Auto Receivables Owner Trust,
Series 2023-1, Class A2, 5.22%, 10/21/2025		442		441
Series 2023-4, Class A3, 5.67%, 06/21/2028		1,405		1,422
Hyundai Auto Lease Securitization Trust, Series 2024-A, Class A3, 5.02%, 03/15/2027 (e)		285		284
Jamestown CLO VI-R Ltd., (Cayman Islands), Series 2018-6RA, Class A1, (CME Term SOFR 3 Month + 1.41%), 6.74%, 04/25/2030 (e) (aa)		684		685
KKR Static CLO 2 Ltd., (Cayman Islands), Series 2022-2A, Class A1, (CME Term SOFR 3 Month + 2.22%), 7.54%, 10/20/2031 (e) (aa)		9,184		9,196
Lendmark Funding Trust 2021-2, Series 2021-2A, Class A, 2.00%, 04/20/2032 (e)		915		827

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
LHMC Finco 2 Sarl, (Luxembourg), Reg. S, 7.25% (cash), 10/02/2025 (v)	EUR	4,234		4,566
Madison Park Funding XIV Ltd., (Cayman Islands), Series 2014-14A, Class BR3, (CME Term SOFR 3 Month + 1.80%), 7.12%, 10/22/2030 (e) (aa)		360		359
Madison Park Funding XVII Ltd., (Cayman Islands), Series 2015-17A, Class AR2, (CME Term SOFR 3 Month + 1.26%), 6.58%, 07/21/2030 (e) (aa)		234		234
Madison Park Funding XVIII Ltd., (Cayman Islands), Series 2015-18A, Class ARR, (CME Term SOFR 3 Month + 1.20%), 6.52%, 10/21/2030 (e) (aa)		8,766		8,777
Madison Park Funding XXIX LTD, (Cayman Islands), Series 2018-29A, Class BR, (CME Term SOFR 3 Month + 1.80%), 0.00%, 10/18/2030 (e) (w) (aa)		540		540
Mariner Finance Issuance Trust,
Series 2021-BA, Class A, 2.10%, 11/20/2036 (e)		895		812
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)		458		414
Neuberger Berman Loan Advisers CLO 35 Ltd., (Cayman Islands), Series 2019-35A, Class ANR, (CME Term SOFR 3 Month + 1.30%), 6.64%, 01/19/2033 (e) (aa)		1,700		1,697
Newark BSL CLO 1 Ltd., (Cayman Islands), Series 2016-1A, Class A1R, (CME Term SOFR 3 Month + 1.36%), 6.68%, 12/21/2029 (e) (aa)		518		518
NextGear Floorplan Master Owner Trust,
Series 2022-1A, Class A2, 2.80%, 03/15/2027 (e)		1,765		1,719
Series 2023-1A, Class A2, 5.74%, 03/15/2028 (e)		310		312
Nissan Auto Receivables Owner Trust, Series 2023-B, Class A3, 5.93%, 03/15/2028		2,050		2,081
OCP CLO 2016-11 Ltd., (Cayman Islands), Series 2016-11A, Class A1R2, (CME Term SOFR 3 Month + 1.42%), 6.74%, 04/26/2036 (e) (aa)		750		750
Octagon Investment Partners XVII Ltd., (Cayman Islands), Series 2013-1A, Class A1R2, (CME Term SOFR 3 Month + 1.26%), 6.59%, 01/25/2031 (e) (aa)		203		203
OneMain Financial Issuance Trust,
Series 2019-2A, Class A, 3.14%, 10/14/2036 (e)		535		504
Series 2021-1A, Class A1, 1.55%, 06/16/2036 (e)		290		263
Series 2022-3A, Class A, 5.94%, 05/15/2034 (e)		650		653
OZLM Funding II Ltd., (Cayman Islands),
Series 2012-2A, Class A1A2, (CME Term SOFR 3 Month + 1.20%), 6.51%, 07/30/2031 (e) (aa)		1,500		1,502
Series 2012-2A, Class A2RA, (CME Term SOFR 3 Month + 1.80%), 7.11%, 07/30/2031 (e) (aa)		720		721
Pagaya AI Debt Trust, Series 2022-1, Class A, 2.03%, 10/15/2029 (e)		143		142
PenFed Auto Receivables Owner Trust, Series 2022-A, Class A3, 3.96%, 04/15/2026 (e)		580		576
Race Point VIII CLO Ltd., (Cayman Islands), Series 2013-8A, Class AR2, (CME Term SOFR 3 Month + 1.30%), 6.62%, 02/20/2030 (e) (aa)		3,207		3,206
Rad CLO 1 Ltd., (Cayman Islands), Series 2018-1A, Class AR, (CME Term SOFR 3 Month + 1.24%), 6.56%, 07/15/2031 (e) (aa)		279		280
Rad CLO 2 Ltd., (Cayman Islands), Series 2018-2A, Class AR, (CME Term SOFR 3 Month + 1.34%), 6.66%, 10/15/2031 (e) (aa)		231		231
Rad CLO 6 Ltd., (Cayman Islands), Series 2019-6A, Class A1, (CME Term SOFR 3 Month + 1.64%), 6.96%, 01/20/2033 (e) (aa)		440		440
Rad CLO 7 Ltd., (Cayman Islands), Series 2020-7A, Class A1R, (CME Term SOFR 3 Month + 1.35%), 6.68%, 04/17/2036 (e) (aa)		1,000		1,003
RR 24 Ltd., (Bermuda), Series 2022-24A, Class A1AR, (CME Term SOFR 3 Month + 1.73%), 7.08%, 01/15/2036 (e) (aa)		450		451

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Consumer Auto Receivables Trust, Series 2020-BA, Class C, 1.29%, 04/15/2026 (e)		232		231
Santander Drive Auto Receivables Trust,
Series 2022-7, Class C, 6.69%, 03/17/2031		930		949
Series 2023-2, Class A3, 5.21%, 07/15/2027		604		602
Series 2023-3, Class A3, 5.61%, 10/15/2027		700		701
Series 2024-1, Class A2, 5.71%, 02/16/2027		430		430
Series 2024-1, Class B, 5.23%, 12/15/2028		585		584
SBNA Auto Lease Trust, Series 2024-A, Class A3, 5.39%, 11/20/2026 (e)		375		375
SCF Equipment Leasing LLC,
Series 2021-1A, Class A3, 0.83%, 08/21/2028 (e)		78		77
Series 2021-1A, Class B, 1.37%, 08/20/2029 (e)		1,000		963
SFS Auto Receivables Securitization Trust,
Series 2023-1A, Class A3, 5.47%, 10/20/2028 (e)		715		718
Series 2024-1A, Class A3, 4.95%, 05/21/2029 (e)		240		239
Sycamore Tree CLO 2024-5 Ltd., (Cayman Islands), Series 2024-5A, Class A1, (CME Term SOFR 3 Month + 1.42%), 0.00%, 04/20/2036 (e) (w) (aa)		600		600
TCW CLO 2022-1 Ltd., (Cayman Islands), Series 2022-1A, Class A1, (CME Term SOFR 3 Month + 1.34%), 6.66%, 04/22/2033 (e) (aa)		500		500
Tesla Auto Lease Trust, Series 2023-A, Class A3, 5.89%, 06/22/2026 (e)		190		191
TICP CLO IX Ltd., (Cayman Islands), Series 2017-9A, Class A, (CME Term SOFR 3 Month + 1.40%), 6.72%, 01/20/2031 (e) (aa)		607		608
Toyota Auto Receivables Owner Trust, Series 2023-D, Class A3, 5.54%, 08/15/2028		2,593		2,621
Upstart Securitization Trust, Series 2021-5, Class A, 1.31%, 11/20/2031 (e)		23		23
Voya CLO 2014-2 Ltd., (Cayman Islands),
Series 2014-2A, Class A1RR, (CME Term SOFR 3 Month + 1.28%), 6.60%, 04/17/2030 (e) (aa)		3,689		3,692
Series 2016-1A, Class A1R, (CME Term SOFR 3 Month + 1.33%), 6.65%, 01/20/2031 (e) (aa)		6,510		6,504
Wellfleet CLO 2018-3 Ltd., (Cayman Islands), Series 2018-3A, Class A1A, (CME Term SOFR 3 Month + 1.51%), 6.83%, 01/20/2032 (e) (aa)		7,600		7,604
Westlake Automobile Receivables Trust, Series 2022-2A, Class C, 4.85%, 09/15/2027 (e)		1,749		1,732
Westlake Flooring Master Trust, Series 2024-1A, Class A, 5.43%, 02/15/2028 (e)		550		551
World Financial Network Credit Card Master Trust, Series 2023-A, Class A, 5.02%, 03/15/2030		1,225		1,217
Total Asset-Backed Securities (Cost $134,411)				132,891
Collateralized Mortgage Obligations — 0.1%
Connecticut Avenue Securities Trust,
Series 2023-R01, Class 1M1, (United States 30 Day Average SOFR + 2.40%), 7.72%, 12/25/2042 (e) (aa)		311		319
Series 2023-R03, Class 2M1, (United States 30 Day Average SOFR + 2.50%), 7.82%, 04/25/2043 (e) (aa)		120		123
FHLMC STACR REMIC Trust,
Series 2022-DNA6, Class M1A, (United States 30 Day Average SOFR + 2.15%), 7.47%, 09/25/2042 (e) (aa)		192		194
Series 2023-DNA2, Class M1A, (United States 30 Day Average SOFR + 2.10%), 7.42%, 04/25/2043 (e) (aa)		428		436
Series 2024-DNA1, Class A1, (United States 30 Day Average SOFR + 1.35%), 6.67%, 02/25/2044 (e) (aa)		617		619

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Verus Securitization Trust,
Series 2021-1, Class A1, 0.82%, 01/25/2066 (e) (z)		164		143
Series 2021-3, Class A1, 1.05%, 06/25/2066 (e) (z)		473		392
Series 2021-R2, Class A1, 0.92%, 02/25/2064 (e) (z)		572		506
Series 2021-R3, Class A1, 1.02%, 04/25/2064 (e) (z)		284		252
Total Collateralized Mortgage Obligations (Cost $3,163)				2,984
Commercial Mortgage-Backed Securities — 0.2%
ACREC Ltd., (Cayman Islands), Series 2021-FL1, Class A, (CME Term SOFR 1 Month + 1.26%), 6.59%, 10/16/2036 (e) (aa)		582		578
Arbor Realty Commercial Real Estate Notes Ltd., (Cayman Islands), Series 2021-FL2, Class A, (CME Term SOFR 1 Month + 1.21%), 6.54%, 05/15/2036 (e) (aa)		840		837
BANK5,
Series 2023-5YR4, Class A3, 6.50%, 12/15/2056		370		390
Series 2023-5YR2, Class A3, 6.66%, 07/15/2056 (z)		800		844
Series 2024-5YR5, Class A3, 5.70%, 02/15/2029		860		882
Benchmark Mortgage Trust,
Series 2024-V5, Class A3, 5.81%, 01/10/2057		240		247
Series 2024-V6, Class A3, 5.93%, 03/15/2029		890		922
BMO Mortgage Trust, Series 2023-5C2, Class A3, 7.05%, 11/15/2056 (z)		1,000		1,081
BSPRT Issuer Ltd., (Cayman Islands), Series 2021-FL7, Class A, (CME Term SOFR 1 Month + 1.43%), 6.76%, 12/15/2038 (e) (aa)		474		472
BWAY Mortgage Trust, Series 2015-1740, Class C, 3.34%, 01/10/2035 (e)		2,750		28
BX Commercial Mortgage Trust,
Series 2021-XL2, Class A, (CME Term SOFR 1 Month + 0.80%), 6.13%, 10/15/2038 (e) (aa)		704		698
Series 2024-XL4, Class A, (CME Term SOFR 1 Month + 1.44%), 6.77%, 02/15/2039 (e) (aa)		370		371
Series 2024-XL5, Class A, (CME Term SOFR 1 Month + 1.39%), 6.69%, 03/15/2041 (e) (aa)		1,420		1,421
BX Trust, Series 2024-CNYN, Class A, (CME Term SOFR 1 Month + 1.44%), 6.74%, 04/15/2029 (e) (w) (aa)		580		580
Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.62%, 02/10/2049		835		798
COMM Mortgage Trust, Series 2014-CR19, Class A5, 3.80%, 08/10/2047		1,430		1,422
COMM Mortgage Trust, Series 2015-CR25, Class A3, 3.51%, 08/10/2048		826		807
Great Wolf Trust, Series 2019-WOLF, Class A, (CME Term SOFR 1 Month + 1.35%), 6.67%, 12/15/2036 (e) (aa)		162		162
GS Mortgage Securities Corp. Trust,
Series 2021-ROSS, Class A, (CME Term SOFR 1 Month + 1.26%), 6.59%, 05/15/2026 (e) (aa)		720		670
Series 2021-ROSS, Class H, (CME Term SOFR 1 Month + 6.01%), 11.34%, 05/15/2026 (e) (aa)		270		86
MF1 LLC, Series 2022-FL9, Class A, (CME Term SOFR 1 Month + 2.15%), 7.48%, 06/19/2037 (e) (aa)		500		500
MF1 Ltd., (Cayman Islands), Series 2021-FL7, Class A, (CME Term SOFR 1 Month + 1.19%), 6.52%, 10/16/2036 (e) (aa)		877		870
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C29, Class A4, 3.33%, 05/15/2049		900		858
WFRBS Commercial Mortgage Trust, Series 2013-C15, Class AS, 4.36%, 08/15/2046 (z)		402		374
Total Commercial Mortgage-Backed Securities (Cost $19,043)				15,898
Convertible Bonds — 0.4%
Communications — 0.1%
Internet — 0.1%
Lyft, Inc., 0.63%, 03/01/2029 (e)		521		609
Meituan, (Cayman Islands), Reg. S, Zero Coupon, 04/27/2028		5,100		4,511

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Internet — continued
Uber Technologies, Inc.,
Zero Coupon, 12/15/2025		620		696
Series 2028, 0.88%, 12/01/2028 (e)		1,980		2,449
				8,265
Media — 0.0% (g)
Cable One, Inc.,
Zero Coupon, 03/15/2026		623		542
1.13%, 03/15/2028		986		740
				1,282
Total Communications				9,547
Consumer Cyclical — 0.1%
Lodging — 0.1%
Wynn Macau Ltd., (Cayman Islands), 4.50%, 03/07/2029 (e)		3,200		3,394
Consumer Non-cyclical — 0.1%
Commercial Services — 0.1%
Global Payments, Inc., 1.50%, 03/01/2031 (e)		3,349		3,540
Nexi SpA, (Italy), Reg. S, Zero Coupon, 02/24/2028	EUR	600		555
Shift4 Payments, Inc., Zero Coupon, 12/15/2025		292		312
Worldline SA, (France), Reg. S, Zero Coupon, 07/30/2026	EUR	192		188
Total Consumer Non-cyclical				4,595
Energy — 0.0% (g)
Energy - Alternate Sources — 0.0% (g)
NextEra Energy Partners LP,
Zero Coupon, 11/15/2025 (e)		894		793
2.50%, 06/15/2026 (e)		894		805
				1,598
Oil & Gas — 0.0% (g)
Northern Oil & Gas, Inc., 3.63%, 04/15/2029 (e)		955		1,163
Total Energy				2,761
Financial — 0.0% (g)
Banks — 0.0% (g)
Barclays Bank plc, (United Kingdom), 1.00%, 02/16/2029		2,109		2,272
Diversified Financial Services — 0.0% (g)
Universe Trek Ltd., (British Virgin Islands), Reg. S, Zero Coupon, 06/15/2026		800		834
Real Estate — 0.0% (g)
Sunac China Holdings Ltd., (Cayman Islands), 1.00% (PIK), 09/30/2032 (e) (v)		2,164		130
Total Financial				3,236
Industrial — 0.0% (g)
Engineering & Construction — 0.0% (g)
Cellnex Telecom SA, (Spain),
Reg. S, 0.75%, 11/20/2031	EUR	2,300		2,120
Reg. S, 2.13%, 08/11/2030	EUR	600		663
Total Industrial				2,783
Technology — 0.0% (g)
Semiconductors — 0.0% (g)
ams-OSRAM AG, (Austria), Reg. S, 2.13%, 11/03/2027	EUR	400		312

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Utilities — 0.1%
Electric — 0.1%
FirstEnergy Corp., 4.00%, 05/01/2026 (e)		2,430		2,415
PG&E Corp., 4.25%, 12/01/2027 (e)		2,428		2,439
Total Utilities				4,854
Total Convertible Bonds (Cost $31,063)				31,482
Corporate Bonds — 79.3%
Basic Materials — 3.9%
Chemicals — 1.5%
Ashland, Inc.,
3.38%, 09/01/2031 (e)		1,000		846
6.88%, 05/15/2043		2,625		2,701
Axalta Coating Systems Dutch Holding B BV, (Netherlands), 7.25%, 02/15/2031 (e)		2,501		2,600
Axalta Coating Systems LLC, 3.38%, 02/15/2029 (e)		1,806		1,616
Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV, (Multinational), 4.75%, 06/15/2027 (e)		774		747
Celanese US Holdings LLC, 6.17%, 07/15/2027		438		446
Chemours Co. (The),
4.63%, 11/15/2029 (e)		1,564		1,345
5.38%, 05/15/2027		1,536		1,473
5.75%, 11/15/2028 (e)		2,220		2,047
Consolidated Energy Finance SA, (Luxembourg), 12.00%, 02/15/2031 (e)		755		789
Element Solutions, Inc., 3.88%, 09/01/2028 (e)		8,595		7,882
FIS Fabbrica Italiana Sintetici SpA, (Italy), Reg. S, 5.63%, 08/01/2027	EUR	400		416
Herens Holdco Sarl, (Luxembourg), 4.75%, 05/15/2028 (e)		1,843		1,610
Herens Midco Sarl, (Luxembourg), Reg. S, 5.25%, 05/15/2029	EUR	100		70
Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.00%, 07/01/2028 (e)		2,042		2,015
INEOS Finance plc, (United Kingdom),
6.38%, 04/15/2029 (e)	EUR	10,765		11,614
Reg. S, 6.38%, 04/15/2029	EUR	200		216
INEOS Quattro Finance 2 plc, (United Kingdom),
Reg. S, 2.50%, 01/15/2026	EUR	194		203
Reg. S, 8.50%, 03/15/2029	EUR	200		221
International Flavors & Fragrances, Inc., 1.23%, 10/01/2025 (e)		1,195		1,119
Italmatch Chemicals SpA, (Italy), Reg. S, 10.00%, 02/06/2028	EUR	6,850		7,802
Kobe US Midco 2, Inc., 9.25% (cash), 11/01/2026 (e) (v)		1,508		1,285
Kronos International, Inc., Reg. S, 9.50%, 03/15/2029	EUR	155		178
LSF11 A5 HoldCo. LLC, 6.63%, 10/15/2029 (e)		662		596
Lune Holdings Sarl, (Luxembourg), Reg. S, 5.63%, 11/15/2028	EUR	11,156		10,168
Nobian Finance BV, (Netherlands), Reg. S, 3.63%, 07/15/2026	EUR	118		123
OCP SA, (Morocco),
Reg. S, 3.75%, 06/23/2031		2,500		2,128
Reg. S, 4.50%, 10/22/2025		200		195
Reg. S, 5.13%, 06/23/2051		4,700		3,533
Olympus Water US Holding Corp.,
4.25%, 10/01/2028 (e)		1,125		1,021
Reg. S, 5.38%, 10/01/2029	EUR	200		189
Reg. S, 9.63%, 11/15/2028	EUR	198		229
9.75%, 11/15/2028 (e)		11,876		12,650

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Orbia Advance Corp. SAB de CV, (Mexico), 1.88%, 05/11/2026 (e)		249		229
Rain Carbon, Inc., 12.25%, 09/01/2029 (e)		1,025		1,064
Rain CII Carbon LLC / CII Carbon Corp., 7.25%, 04/01/2025 (e)		47		46
Sasol Financing USA LLC, Reg. S, 8.75%, 05/03/2029		2,700		2,751
SCIL IV LLC / SCIL USA Holdings LLC,
5.38%, 11/01/2026 (e)		982		953
Reg. S, (ICE LIBOR EUR 3 Month + 4.38%), 8.27%, 11/01/2026 (aa)	EUR	100		108
Reg. S, 9.50%, 07/15/2028	EUR	201		236
SK Invictus Intermediate II Sarl, (Luxembourg), 5.00%, 10/30/2029 (e)		6,824		6,087
SNF Group SACA, (France),
3.13%, 03/15/2027 (e)		387		358
3.38%, 03/15/2030 (e)		574		497
Tronox, Inc., 4.63%, 03/15/2029 (e)		1,140		1,023
WR Grace Holdings LLC,
4.88%, 06/15/2027 (e)		858		815
5.63%, 08/15/2029 (e)		9,661		8,642
7.38%, 03/01/2031 (e)		3,122		3,162
				106,044
Forest Products & Paper — 0.1%
Ahlstrom Holding 3 Oy, (Finland),
Reg. S, 3.63%, 02/04/2028	EUR	100		101
4.88%, 02/04/2028 (e)		300		275
WEPA Hygieneprodukte GmbH, (Germany), Reg. S, 2.88%, 12/15/2027	EUR	8,810		8,887
				9,263
Iron/Steel — 0.6%
ABJA Investment Co. Pte Ltd., (Singapore), Reg. S, 5.95%, 07/31/2024		2,000		1,995
ATI, Inc.,
4.88%, 10/01/2029		816		768
5.13%, 10/01/2031		1,706		1,581
5.88%, 12/01/2027		1,002		987
7.25%, 08/15/2030		4,590		4,745
Big River Steel LLC / BRS Finance Corp., 6.63%, 01/31/2029 (e)		8,245		8,291
Carpenter Technology Corp.,
6.38%, 07/15/2028		1,792		1,789
7.63%, 03/15/2030		2,251		2,322
Cleveland-Cliffs, Inc., 6.75%, 04/15/2030 (e)		2,950		2,961
Commercial Metals Co., 4.38%, 03/15/2032		325		293
CSN Inova Ventures, (Cayman Islands), Reg. S, 6.75%, 01/28/2028		2,600		2,548
JSW Steel Ltd., (India),
5.05%, 04/05/2032 (e)		1,100		970
Reg. S, 5.05%, 04/05/2032		2,900		2,557
Mineral Resources Ltd., (Australia), 9.25%, 10/01/2028 (e)		1,350		1,420
Periama Holdings LLC, Reg. S, 5.95%, 04/19/2026		14,150		13,938
				47,165

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 1.7%
Alcoa Nederland Holding BV, (Netherlands),
5.50%, 12/15/2027 (e)		1,200		1,189
7.13%, 03/15/2031 (e)		370		377
Anglo American Capital plc, (United Kingdom),
4.75%, 04/10/2027 (e)		400		392
4.88%, 05/14/2025 (e)		344		340
AngloGold Ashanti Holdings plc, (Isle of Man), 3.75%, 10/01/2030		1,400		1,224
Antofagasta plc, (United Kingdom), Reg. S, 2.38%, 10/14/2030		2,700		2,254
Arsenal AIC Parent LLC,
8.00%, 10/01/2030 (e)		1,499		1,578
11.50%, 10/01/2031 (e)		8,211		9,145
Bukit Makmur Mandiri Utama PT, (Indonesia), Reg. S, 7.75%, 02/10/2026		3,700		3,665
China Hongqiao Group Ltd., (Cayman Islands), Reg. S, 6.25%, 06/08/2024		2,900		2,875
Constellium SE, (France),
3.75%, 04/15/2029 (e)		6,222		5,600
Reg. S, 4.25%, 02/15/2026	EUR	8,100		8,704
5.88%, 02/15/2026 (e)		443		440
Corp. Nacional del Cobre de Chile, (Chile),
Reg. S, 4.50%, 08/01/2047		2,700		2,130
Reg. S, 5.95%, 01/08/2034		2,700		2,696
Eldorado Gold Corp., (Canada), 6.25%, 09/01/2029 (e)		3,300		3,169
ERO Copper Corp., (Canada), 6.50%, 02/15/2030 (e)		1,107		1,052
First Quantum Minerals Ltd., (Canada),
6.88%, 10/15/2027 (e)		1,912		1,832
8.63%, 06/01/2031 (e)		600		583
9.38%, 03/01/2029 (e)		4,848		5,019
Freeport Indonesia PT, (Indonesia), 4.76%, 04/14/2027 (e)		200		195
Freeport-McMoRan, Inc., 4.55%, 11/14/2024		400		397
Glencore Funding LLC,
1.63%, 04/27/2026 (e)		235		218
4.00%, 04/16/2025 (e)		164		161
4.00%, 03/27/2027 (e)		306		296
4.63%, 04/29/2024 (e)		281		281
5.34%, 04/04/2027 (e) (w)		476		476
5.37%, 04/04/2029 (e) (w)		473		474
6.13%, 10/06/2028 (e)		116		120
Hecla Mining Co., 7.25%, 02/15/2028		1,708		1,710
Hudbay Minerals, Inc., (Canada),
4.50%, 04/01/2026 (e)		2,783		2,695
6.13%, 04/01/2029 (e)		3,106		3,071
Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT, (Indonesia),
Reg. S, 5.45%, 05/15/2030		2,700		2,669
Reg. S, 5.80%, 05/15/2050		4,200		3,962
Kaiser Aluminum Corp.,
4.50%, 06/01/2031 (e)		6,837		6,050
4.63%, 03/01/2028 (e)		1,243		1,167
New Gold, Inc., (Canada), 7.50%, 07/15/2027 (e)		8,044		8,062
Northern Star Resources Ltd., (Australia), Reg. S, 6.13%, 04/11/2033		1,800		1,808

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Novelis Corp.,
3.25%, 11/15/2026 (e)		4,560		4,249
3.88%, 08/15/2031 (e)		2,997		2,575
4.75%, 01/30/2030 (e)		8,670		8,003
Novelis Sheet Ingot GmbH, (Germany), Reg. S, 3.38%, 04/15/2029	EUR	2,640		2,677
Vedanta Resources Finance II plc, (United Kingdom),
Reg. S, 13.88%, 01/21/2027		2,961		2,783
Reg. S, 13.88%, 12/09/2028		11,088		10,123
Vedanta Resources Ltd., (United Kingdom), Reg. S, 13.88%, 12/09/2028		2,914		2,559
				121,045
Total Basic Materials				283,517
Communications — 11.0%
Advertising — 0.6%
Clear Channel Outdoor Holdings, Inc.,
5.13%, 08/15/2027 (e)		4,109		3,875
7.50%, 06/01/2029 (e)		3,885		3,214
7.75%, 04/15/2028 (e)		584		511
7.88%, 04/01/2030 (e)		5,239		5,209
9.00%, 09/15/2028 (e)		8,164		8,511
CMG Media Corp., 8.88%, 12/15/2027 (e)		4,255		2,813
Lamar Media Corp., 4.00%, 02/15/2030		113		103
Outfront Media Capital LLC / Outfront Media Capital Corp.,
4.25%, 01/15/2029 (e)		6,003		5,438
4.63%, 03/15/2030 (e)		348		312
5.00%, 08/15/2027 (e)		1,809		1,741
7.38%, 02/15/2031 (e)		2,033		2,129
Summer BC Holdco B Sarl, (Luxembourg), Reg. S, 5.75%, 10/31/2026	EUR	5,920		6,259
				40,115
Internet — 1.2%
Acuris Finance US, Inc. / Acuris Finance Sarl, 5.00%, 05/01/2028 (e)		3,367		3,059
ANGI Group LLC, 3.88%, 08/15/2028 (e)		835		725
Cablevision Lightpath LLC,
3.88%, 09/15/2027 (e)		5,113		4,591
5.63%, 09/15/2028 (e)		1,050		876
Engineering - Ingegneria Informatica - SpA, (Italy),
Reg. S, 5.88%, 09/30/2026	EUR	6,570		6,964
Reg. S, 11.13%, 05/15/2028	EUR	404		469
Gen Digital, Inc., 5.00%, 04/15/2025 (e)		4,210		4,185
Go Daddy Operating Co. LLC / GD Finance Co., Inc., 3.50%, 03/01/2029 (e)		1,989		1,794
iliad SA, (France),
Reg. S, 1.88%, 02/11/2028	EUR	5,600		5,505
Reg. S, 2.38%, 06/17/2026	EUR	6,800		7,009
Reg. S, 5.63%, 02/15/2030	EUR	600		664
Iliad SA, (France), Reg. S, 5.38%, 06/14/2027	EUR	300		330
Match Group Holdings II LLC,
3.63%, 10/01/2031 (e)		1,312		1,115
4.63%, 06/01/2028 (e)		788		744
Netflix, Inc., 4.88%, 04/15/2028		175		175

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Newfold Digital Holdings Group, Inc., 11.75%, 10/15/2028 (e)		217		235
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc., 4.75%, 04/30/2027 (e)		735		751
Prosus NV, (Netherlands),
Reg. S, 3.06%, 07/13/2031		1,800		1,465
3.26%, 01/19/2027 (e)		200		185
Reg. S, 3.26%, 01/19/2027		2,700		2,501
Reg. S, 4.99%, 01/19/2052		3,000		2,210
Rakuten Group, Inc., (Japan),
Reg. S, (EUR Swap Rate 5 Year + 4.74%), 4.25%, 04/22/2027 (x) (aa)	EUR	5,410		4,527
11.25%, 02/15/2027 (e)		1,326		1,405
Uber Technologies, Inc., 4.50%, 08/15/2029 (e)		7,673		7,279
United Group BV, (Netherlands),
Reg. S, 4.00%, 11/15/2027	EUR	4,119		4,230
Reg. S, 4.63%, 08/15/2028	EUR	7,000		7,205
Reg. S, 5.25%, 02/01/2030	EUR	14,630		15,195
Reg. S, 6.75%, 02/15/2031	EUR	100		110
Reg. S, (ICE LIBOR EUR 3 Month + 4.25%), 8.13%, 02/15/2031 (aa)	EUR	268		289
				85,792
Media — 3.4%
Altice Financing SA, (Luxembourg),
Reg. S, 3.00%, 01/15/2028	EUR	100		88
Reg. S, 4.25%, 08/15/2029	EUR	16,239		14,209
5.00%, 01/15/2028 (e)		800		658
5.75%, 08/15/2029 (e)		9,480		7,594
9.63%, 07/15/2027 (e)		5,906		5,649
Altice Finco SA, (Luxembourg), Reg. S, 4.75%, 01/15/2028	EUR	4,268		3,124
AMC Networks, Inc., 4.75%, 08/01/2025		31		31
Cable One, Inc., 4.00%, 11/15/2030 (e)		2,158		1,684
CCO Holdings LLC / CCO Holdings Capital Corp.,
4.25%, 02/01/2031 (e)		14,121		11,538
4.25%, 01/15/2034 (e)		7,872		5,948
4.50%, 08/15/2030 (e)		528		444
4.50%, 05/01/2032		5,322		4,274
4.50%, 06/01/2033 (e)		5,525		4,315
4.75%, 03/01/2030 (e)		2,271		1,955
4.75%, 02/01/2032 (e)		1,259		1,028
5.00%, 02/01/2028 (e)		11,583		10,787
5.13%, 05/01/2027 (e)		4,829		4,594
5.38%, 06/01/2029 (e)		450		412
6.38%, 09/01/2029 (e)		4,241		4,023
7.38%, 03/01/2031 (e)		10,268		10,072
Charter Communications Operating LLC / Charter Communications Operating Capital,
4.91%, 07/23/2025		350		346
6.15%, 11/10/2026		201		202

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
CSC Holdings LLC,
3.38%, 02/15/2031 (e)		900		612
4.13%, 12/01/2030 (e)		2,783		1,989
4.50%, 11/15/2031 (e)		1,440		1,019
4.63%, 12/01/2030 (e)		7,510		3,814
5.00%, 11/15/2031 (e)		2,100		1,062
5.38%, 02/01/2028 (e)		825		711
5.50%, 04/15/2027 (e)		2,346		2,097
5.75%, 01/15/2030 (e)		2,000		1,059
6.50%, 02/01/2029 (e)		1,700		1,441
7.50%, 04/01/2028 (e)		500		337
11.25%, 05/15/2028 (e)		9,167		9,084
11.75%, 01/31/2029 (e)		9,533		9,546
Diamond Sports Group LLC / Diamond Sports Finance Co.,
5.38%, 08/15/2026 (d) (e)		17,957		494
6.63%, 08/15/2027 (d) (e)		10,954		301
Directv Financing LLC, 8.88%, 02/01/2030 (e)		1,296		1,293
Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.88%, 08/15/2027 (e)		5,152		4,876
DISH DBS Corp.,
5.13%, 06/01/2029		1,150		480
5.25%, 12/01/2026 (e)		939		739
5.75%, 12/01/2028 (e)		865		595
7.38%, 07/01/2028		5,423		2,589
7.75%, 07/01/2026		7,515		5,029
DISH Network Corp., 11.75%, 11/15/2027 (e)		10,619		10,816
FactSet Research Systems, Inc., 2.90%, 03/01/2027		120		113
GCI LLC, 4.75%, 10/15/2028 (e)		182		167
Gray Television, Inc.,
5.88%, 07/15/2026 (e)		6,149		5,981
7.00%, 05/15/2027 (e)		2,298		2,140
LCPR Senior Secured Financing DAC, (Ireland), 6.75%, 10/15/2027 (e)		3,073		2,884
Midcontinent Communications / Midcontinent Finance Corp., 5.38%, 08/15/2027 (e)		2,075		1,969
News Corp., 3.88%, 05/15/2029 (e)		950		869
Nexstar Media, Inc., 5.63%, 07/15/2027 (e)		1,071		1,028
Radiate Holdco LLC / Radiate Finance, Inc.,
4.50%, 09/15/2026 (e)		3,018		2,401
6.50%, 09/15/2028 (e)		7,780		3,669
RCS & RDS SA, (Romania), Reg. S, 3.25%, 02/05/2028	EUR	300		301
Sinclair Television Group, Inc., 5.13%, 02/15/2027 (e)		1,840		1,675
Sirius XM Radio, Inc.,
3.13%, 09/01/2026 (e)		2,201		2,062
4.00%, 07/15/2028 (e)		371		340
5.00%, 08/01/2027 (e)		6,191		5,957
Summer BidCo BV, (Netherlands), Reg. S, 10.00% (cash), 02/15/2029 (v)	EUR	4,000		4,369
Sunrise FinCo. I BV, (Netherlands), 4.88%, 07/15/2031 (e)		2,357		2,104
Tele Columbus AG, (Germany), Reg. S, 10.00% (PIK), 03/19/2029 (d) (v)	EUR	4,449		3,293
Telenet Finance Luxembourg Notes Sarl, (Luxembourg), 5.50%, 03/01/2028 (e)		1,200		1,127

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Univision Communications, Inc.,
4.50%, 05/01/2029 (e)		2,125		1,899
6.63%, 06/01/2027 (e)		8,057		7,887
7.38%, 06/30/2030 (e)		849		839
8.00%, 08/15/2028 (e)		9,327		9,502
UPCB Finance VII Ltd., (Cayman Islands), Reg. S, 3.63%, 06/15/2029	EUR	5,380		5,500
Videotron Ltd., (Canada),
3.63%, 06/15/2029 (e)		383		346
5.13%, 04/15/2027 (e)		887		868
Virgin Media Secured Finance plc, (United Kingdom),
Reg. S, 4.13%, 08/15/2030	GBP	100		106
4.50%, 08/15/2030 (e)		600		520
Virgin Media Vendor Financing Notes III DAC, (Ireland), Reg. S, 4.88%, 07/15/2028	GBP	9,560		10,800
Virgin Media Vendor Financing Notes IV DAC, (Ireland), 5.00%, 07/15/2028 (e)		3,509		3,221
VZ Secured Financing BV, (Netherlands),
Reg. S, 3.50%, 01/15/2032	EUR	100		94
5.00%, 01/15/2032 (e)		2,150		1,846
VZ Vendor Financing II BV, (Netherlands), Reg. S, 2.88%, 01/15/2029	EUR	500		465
Ziggo Bond Co. BV, (Netherlands), 5.13%, 02/28/2030 (e)		1,072		919
Ziggo BV, (Netherlands),
Reg. S, 2.88%, 01/15/2030	EUR	7,570		7,203
4.88%, 01/15/2030 (e)		152		136
				247,558
Telecommunications — 5.8%
Altice France Holding SA, (Luxembourg),
Reg. S, 4.00%, 02/15/2028	EUR	8,240		2,066
Reg. S, 8.00%, 05/15/2027	EUR	4,602		1,599
Altice France SA, (France),
Reg. S, 3.38%, 01/15/2028	EUR	239		185
Reg. S, 4.13%, 01/15/2029	EUR	100		75
Reg. S, 4.25%, 10/15/2029	EUR	16,755		12,607
5.13%, 01/15/2029 (e)		1,276		874
5.13%, 07/15/2029 (e)		4,338		2,934
5.50%, 01/15/2028 (e)		155		110
5.50%, 10/15/2029 (e)		7,197		4,874
Reg. S, 5.88%, 02/01/2027	EUR	3,500		2,917
8.13%, 02/01/2027 (e)		7,936		6,121
Reg. S, 11.50%, 02/01/2027	EUR	300		277
AT&T, Inc., 5.54%, 02/20/2026		1,386		1,385
Axiata SPV2 Bhd., (Malaysia), Reg. S, 2.16%, 08/19/2030		6,400		5,357
Bharti Airtel International Netherlands BV, (Netherlands), Reg. S, 5.35%, 05/20/2024		2,000		1,998
British Telecommunications plc, (United Kingdom), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.54%), 5.13%, 10/03/2054 (w) (aa)	EUR	325		350
CAS Capital No. 1 Ltd., (British Virgin Islands), Reg. S, (CMT Index 5 Year + 3.64%), 4.00%, 07/12/2026 (x) (aa)		4,800		4,383
CK Hutchison Group Telecom Finance SA, (Luxembourg), Reg. S, 2.63%, 10/17/2034	GBP	200		184
CommScope Technologies LLC, 6.00%, 06/15/2025 (e)		1,395		1,213
CommScope, Inc.,
4.75%, 09/01/2029 (e)		1,132		809
6.00%, 03/01/2026 (e)		1,204		1,102

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Connect Finco Sarl / Connect US Finco LLC, (Multinational), 6.75%, 10/01/2026 (e)		9,225		9,054
Digicel Group Holdings Ltd., (Bermuda),
Series 1A14, , Zero Coupon, 12/31/2030 (bb) (cc) (e)		22		27
Series 1B14, , Zero Coupon, 12/31/2030 (bb) (cc) (e)		108		—	(h)
Series 3A14, , Zero Coupon, 12/31/2030 (bb) (cc) (e)		1		—	(h)
Series 3B14, , Zero Coupon, 12/31/2030 (bb) (cc) (e)		64		—	(h)
Digicel Intermediate Holdings Ltd. / Digicel International Finance Ltd. / Difl US, (Multinational), 12.00% (Blend (cash 9.00% + PIK 3.00%)), 05/25/2027 (v)		1,022		1,004
Digicel Midco Ltd. / Difl US II LLC, (Saint Lucia), 10.50% (PIK), 11/25/2028 (v)		2,925		2,333
Eutelsat SA, (France),
Reg. S, 1.50%, 10/13/2028	EUR	200		161
Reg. S, 9.75%, 04/13/2029 (w)	EUR	100		110
9.75%, 04/13/2029 (e) (w)	EUR	8,982		9,845
Frontier Communications Holdings LLC,
5.00%, 05/01/2028 (e)		6,936		6,438
5.88%, 10/15/2027 (e)		1,941		1,879
6.75%, 05/01/2029 (e)		860		767
8.63%, 03/15/2031 (e)		1,986		2,028
8.75%, 05/15/2030 (e)		10,042		10,273
Global Switch Finance BV, (Netherlands), Reg. S, 1.38%, 10/07/2030	EUR	379		377
Globe Telecom, Inc., (Philippines), Reg. S, (CMT Index 5 Year + 5.53%), 4.20%, 08/02/2026 (x) (aa)		7,384		7,107
Hughes Satellite Systems Corp., 5.25%, 08/01/2026		515		429
Iliad Holding SASU, (France),
6.50%, 10/15/2026 (e)		8,737		8,657
7.00%, 10/15/2028 (e)		3,565		3,528
Intelsat Jackson Holdings SA, (Luxembourg), 6.50%, 03/15/2030 (e)		3,895		3,623
Kaixo Bondco Telecom SA, (Spain), Reg. S, 5.13%, 09/30/2029	EUR	11,309		11,798
Koninklijke KPN NV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 3.77%), 6.00%, 09/21/2027 (x) (aa)	EUR	3,720		4,216
Level 3 Financing, Inc.,
3.88%, 10/15/2030 (e)		446		263
4.00%, 04/15/2031 (e)		255		154
4.50%, 04/01/2030 (e)		210		130
4.88%, 06/15/2029 (e)		4,963		3,313
10.50%, 04/15/2029 (e)		6,925		7,064
10.50%, 05/15/2030 (e)		5,264		5,383
11.00%, 11/15/2029 (e)		7,932		8,249
Liberty Costa Rica Senior Secured Finance, (Cayman Islands), 10.88%, 01/15/2031 (e)		832		875
Lorca Telecom Bondco SA, (Spain), Reg. S, 4.00%, 09/18/2027	EUR	13,289		13,888
Lumen Technologies, Inc.,
4.13%, 04/15/2029 (e)		904		570
4.13%, 04/15/2030 (e)		904		561
Matterhorn Telecom SA, (Luxembourg), Reg. S, 3.13%, 09/15/2026	EUR	11,860		12,420
Network i2i Ltd., (Mauritius),
Reg. S, (CMT Index 5 Year + 4.39%), 3.98%, 03/03/2026 (x) (aa)		2,600		2,468
Reg. S, (CMT Index 5 Year + 4.27%), 5.65%, 01/15/2025 (x) (aa)		2,400		2,370
PPF Telecom Group BV, (Netherlands), Reg. S, 3.25%, 09/29/2027	EUR	8,360		8,749
SES SA, (Luxembourg), Reg. S, (EUR Swap Rate 5 Year + 3.19%), 2.88%, 05/27/2026 (x) (aa)	EUR	100		102

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
SoftBank Group Corp., (Japan),
Reg. S, 2.88%, 01/06/2027	EUR	250		255
Reg. S, 3.13%, 09/19/2025	EUR	282		296
Reg. S, 3.38%, 07/06/2029	EUR	7,110		7,038
Reg. S, 3.88%, 07/06/2032	EUR	400		386
Reg. S, 4.00%, 09/19/2029	EUR	100		102
Reg. S, 4.50%, 04/20/2025	EUR	7,180		7,736
Reg. S, 5.00%, 04/15/2028	EUR	5,000		5,379
Sprint Capital Corp.,
6.88%, 11/15/2028		1,393		1,483
8.75%, 03/15/2032		575		696
Sprint LLC,
7.13%, 06/15/2024		2,584		2,588
7.63%, 02/15/2025		1,390		1,407
Telecom Italia Capital SA, (Luxembourg),
6.00%, 09/30/2034		953		871
6.38%, 11/15/2033		284		268
7.20%, 07/18/2036		4,211		4,110
7.72%, 06/04/2038		521		522
Telecom Italia SpA, (Italy),
Reg. S, 1.63%, 01/18/2029	EUR	14,211		13,169
Reg. S, 2.38%, 10/12/2027	EUR	5,930		5,926
Reg. S, 2.75%, 04/15/2025	EUR	2,830		2,977
Reg. S, 2.88%, 01/28/2026	EUR	8,830		9,216
Reg. S, 3.00%, 09/30/2025	EUR	5,640		5,910
5.30%, 05/30/2024 (e)		1,100		1,096
Reg. S, 6.88%, 02/15/2028	EUR	8,702		9,917
Reg. S, 7.88%, 07/31/2028	EUR	6,518		7,709
Telefonica Europe BV, (Netherlands),
Reg. S, (EUR Swap Rate 8 Year + 2.62%), 2.38%, 02/12/2029 (x) (aa)	EUR	12,500		11,880
Reg. S, (EUR Swap Rate 8 Year + 3.07%), 2.88%, 06/24/2027 (x) (aa)	EUR	3,000		3,042
Reg. S, (EUR Swap Rate 6 Year + 2.87%), 2.88%, 02/24/2028 (x) (aa)	EUR	5,100		5,070
Reg. S, (EUR Swap Rate 7 Year + 3.35%), 6.14%, 02/03/2030 (x) (aa)	EUR	200		224
Reg. S, (EUR Swap Rate 8 Year + 3.62%), 6.75%, 06/07/2031 (x) (aa)	EUR	11,000		12,846
Reg. S, (EUR Swap Rate 6 Year + 4.32%), 7.13%, 08/23/2028 (x) (aa)	EUR	200		235
TMNL Holding BV, (Netherlands), Reg. S, 3.75%, 01/15/2029	EUR	7,180		7,272
T-Mobile USA, Inc.,
2.25%, 02/15/2026		56		53
2.63%, 04/15/2026		36		34
3.75%, 04/15/2027		90		87
Viasat, Inc.,
5.63%, 09/15/2025 (e)		9,139		8,909
5.63%, 04/15/2027 (e)		911		861
7.50%, 05/30/2031 (e)		152		110
Viavi Solutions, Inc., 3.75%, 10/01/2029 (e)		577		495
Vmed O2 UK Financing I plc, (United Kingdom),
Reg. S, 3.25%, 01/31/2031	EUR	12,103		11,514
Reg. S, 4.00%, 01/31/2029	GBP	100		111
4.25%, 01/31/2031 (e)		303		256
Reg. S, 4.50%, 07/15/2031	GBP	11,787		12,645

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
4.75%, 07/15/2031 (e)		1,946		1,678
5.63%, 04/15/2032 (e) (w)	EUR	7,841		8,417
7.75%, 04/15/2032 (e) (w)		2,818		2,825
Vodafone Group plc, (United Kingdom),
Reg. S, (EUR Swap Rate 5 Year + 3.48%), 3.00%, 08/27/2080 (aa)	EUR	8,150		7,938
Reg. S, (GBP Swap Rate 5 Year + 3.27%), 4.88%, 10/03/2078 (aa)	GBP	200		247
Reg. S, (EUR Swap Rate 5 Year + 3.49%), 6.50%, 08/30/2084 (aa)	EUR	100		116
Reg. S, (UK Gilts 5 Year + 3.84%), 8.00%, 08/30/2086 (aa)	GBP	12,320		16,716
Windstream Escrow LLC / Windstream Escrow Finance Corp., 7.75%, 08/15/2028 (e)		758		701
Wp/ap Telecom Holdings III BV, (Netherlands), Reg. S, 5.50%, 01/15/2030	EUR	156		155
Xiaomi Best Time International Ltd., (Hong Kong), Reg. S, 4.10%, 07/14/2051		3,100		2,213
Zayo Group Holdings, Inc.,
4.00%, 03/01/2027 (e)		15,338		12,622
6.13%, 03/01/2028 (e)		4,727		3,308
				423,270
Total Communications				796,735
Consumer Cyclical — 14.6%
Airlines — 0.5%
Air Canada, (Canada), 3.88%, 08/15/2026 (e)		1,285		1,227
American Airlines, Inc.,
7.25%, 02/15/2028 (e)		1,870		1,901
8.50%, 05/15/2029 (e)		3,514		3,711
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., (Multinational),
5.50%, 04/20/2026 (e)		75		74
5.75%, 04/20/2029 (e)		6,901		6,789
British Airways 2013-1 Class A Pass Through Trust, 4.63%, 06/20/2024 (e)		55		55
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., (Cayman Islands), 5.75%, 01/20/2026 (e)		325		305
International Consolidated Airlines Group SA, (Spain), Reg. S, 3.75%, 03/25/2029	EUR	100		106
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/2027 (e)		336		338
Singapore Airlines Ltd., (Singapore),
Reg. S, 3.00%, 07/20/2026		2,350		2,231
Reg. S, 3.38%, 01/19/2029		2,400		2,237
United Airlines 2014-1 Class A Pass Through Trust, Series A, 4.00%, 04/11/2026		332		321
United Airlines Pass Through Trust, Series 20-1, Class A, 5.88%, 10/15/2027		173		173
United Airlines, Inc.,
4.38%, 04/15/2026 (e)		3,759		3,636
4.63%, 04/15/2029 (e)		7,336		6,829
VistaJet Malta Finance plc / Vista Management Holding, Inc., (Multinational),
6.38%, 02/01/2030 (e)		2,950		2,180
7.88%, 05/01/2027 (e)		3,079		2,603
9.50%, 06/01/2028 (e)		965		821
				35,537
Apparel — 0.1%
Crocs, Inc.,
4.13%, 08/15/2031 (e)		163		141
4.25%, 03/15/2029 (e)		1,111		1,015

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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)		695		677
Kontoor Brands, Inc., 4.13%, 11/15/2029 (e)		500		450
Levi Strauss & Co., 3.50%, 03/01/2031 (e)		2,280		2,000
PVH Corp., 4.63%, 07/10/2025		190		187
Tapestry, Inc.,
7.00%, 11/27/2026		207		213
7.05%, 11/27/2025		213		218
7.35%, 11/27/2028		385		406
Wolverine World Wide, Inc., 4.00%, 08/15/2029 (e)		4,700		3,772
				9,079
Auto Manufacturers — 1.0%
Aston Martin Capital Holdings Ltd., (Jersey),
10.00%, 03/31/2029 (e)		991		1,005
10.38%, 03/31/2029 (e)	GBP	5,349		6,868
Reg. S, 10.38%, 03/31/2029	GBP	181		232
Daimler Truck Finance North America LLC,
5.00%, 01/15/2027 (e)		150		150
5.60%, 08/08/2025 (e)		503		503
Ford Motor Co.,
4.75%, 01/15/2043		143		119
6.10%, 08/19/2032		702		712
Ford Motor Credit Co. LLC,
2.30%, 02/10/2025		628		609
3.38%, 11/13/2025		1,774		1,707
3.66%, 09/08/2024		1,000		990
4.13%, 08/04/2025		200		195
4.27%, 01/09/2027		2,500		2,405
4.39%, 01/08/2026		908		886
4.69%, 06/09/2025		200		197
5.13%, 06/16/2025		3,077		3,050
5.80%, 03/08/2029		467		469
7.20%, 06/10/2030		1,400		1,487
7.35%, 03/06/2030		1,545		1,648
General Motors Financial Co., Inc.,
2.75%, 06/20/2025		1,000		966
4.35%, 01/17/2027		80		78
5.40%, 04/06/2026		95		95
5.40%, 05/08/2027		242		243
Series C, (CMT Index 5 Year + 5.00%), 5.70%, 09/30/2030 (x) (aa)		1,128		1,083
Hyundai Capital America,
2.00%, 06/15/2028 (e)		353		310
5.25%, 01/08/2027 (e)		198		198
5.30%, 01/08/2029 (e)		116		116
5.65%, 06/26/2026 (e)		687		689
5.95%, 09/21/2026 (e)		4,078		4,127
6.10%, 09/21/2028 (e)		1,049		1,081
6.50%, 01/16/2029 (e)		500		525
Jaguar Land Rover Automotive plc, (United Kingdom), Reg. S, 4.50%, 01/15/2026	EUR	12,410		13,394
JB Poindexter & Co., Inc., 8.75%, 12/15/2031 (e)		795		822
Nissan Motor Acceptance Co. LLC, 6.95%, 09/15/2026 (e)		658		676

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
PM General Purchaser LLC, 9.50%, 10/01/2028 (e)		3,785		3,863
RCI Banque SA, (France), Reg. S, (EUR Swap Rate 5 Year + 2.85%), 2.63%, 02/18/2030 (aa)	EUR	600		632
TML Holdings Pte Ltd., (Singapore),
Reg. S, 4.35%, 06/09/2026		6,650		6,356
Reg. S, 5.50%, 06/03/2024		3,200		3,192
Volkswagen Group of America Finance LLC,
5.40%, 03/20/2026 (e)		511		511
5.70%, 09/12/2026 (e)		222		225
5.80%, 09/12/2025 (e)		281		282
6.00%, 11/16/2026 (e)		200		204
Volkswagen International Finance NV, (Netherlands),
Reg. S, (EUR Swap Rate 9 Year + 3.96%), 3.88%, 06/17/2029 (x) (aa)	EUR	200		199
Reg. S, (EUR Swap Rate 9 Year + 3.36%), 4.38%, 03/28/2031 (x) (aa)	EUR	8,000		7,918
Wabash National Corp., 4.50%, 10/15/2028 (e)		76		70
				71,087
Auto Parts & Equipment — 1.7%
Adient Global Holdings Ltd., (Jersey),
4.88%, 08/15/2026 (e)		925		902
7.00%, 04/15/2028 (e)		3,050		3,117
American Axle & Manufacturing, Inc., 6.50%, 04/01/2027		1,450		1,446
Clarios Global LP / Clarios US Finance Co., (Multinational),
Reg. S, 4.38%, 05/15/2026	EUR	11,542		12,357
6.75%, 05/15/2028 (e)		5,428		5,503
8.50%, 05/15/2027 (e)		12,541		12,557
Dana Financing Luxembourg Sarl, (Luxembourg),
Reg. S, 3.00%, 07/15/2029	EUR	4,670		4,534
5.75%, 04/15/2025 (e)		74		74
Reg. S, 8.50%, 07/15/2031	EUR	3,429		4,072
Dana, Inc.,
4.25%, 09/01/2030		1,075		950
4.50%, 02/15/2032		1,300		1,123
5.38%, 11/15/2027		275		269
5.63%, 06/15/2028		700		683
Forvia SE, (France),
Reg. S, 2.75%, 02/15/2027	EUR	9,308		9,590
Reg. S, 3.13%, 06/15/2026	EUR	5,120		5,379
Reg. S, 5.50%, 06/15/2031	EUR	228		252
Reg. S, 7.25%, 06/15/2026	EUR	1,430		1,618
Goodyear Europe BV, (Netherlands), Reg. S, 2.75%, 08/15/2028	EUR	124		120
Goodyear Tire & Rubber Co. (The),
5.00%, 07/15/2029		678		633
5.63%, 04/30/2033		406		371
9.50%, 05/31/2025		167		168
Grupo Antolin-Irausa SA, (Spain), Reg. S, 3.50%, 04/30/2028	EUR	100		86
IHO Verwaltungs GmbH, (Germany), Reg. S, 8.75% (cash), 05/15/2028 (v)	EUR	5,714		6,673
Mahle GmbH, (Germany), Reg. S, 2.38%, 05/14/2028	EUR	100		94
Phinia, Inc., 6.75%, 04/15/2029 (e) (w)		1,466		1,480

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — continued
Schaeffler AG, (Germany),
Reg. S, 2.75%, 10/12/2025	EUR	10,300		10,882
Reg. S, 4.50%, 08/14/2026	EUR	100		109
Reg. S, 4.75%, 08/14/2029	EUR	100		110
SK On Co. Ltd., (South Korea), Reg. S, 5.38%, 05/11/2026		2,700		2,702
Tenneco, Inc., 8.00%, 11/17/2028 (e)		5,132		4,681
Titan International, Inc., 7.00%, 04/30/2028		2,775		2,738
ZF Europe Finance BV, (Netherlands),
Reg. S, 2.00%, 02/23/2026	EUR	9,200		9,482
Reg. S, 3.00%, 10/23/2029	EUR	4,300		4,287
Reg. S, 4.75%, 01/31/2029	EUR	100		108
Reg. S, 6.13%, 03/13/2029	EUR	200		229
ZF Finance GmbH, (Germany),
Reg. S, 3.75%, 09/21/2028	EUR	10,900		11,348
Reg. S, 5.75%, 08/03/2026	EUR	100		111
ZF North America Capital, Inc., 6.88%, 04/14/2028 (e)		300		311
				121,149
Distribution/Wholesale — 0.2%
American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/2029 (e)		45		41
BCPE Empire Holdings, Inc., 7.63%, 05/01/2027 (e)		1,763		1,721
Dealer Tire LLC / DT Issuer LLC, 8.00%, 02/01/2028 (e)		186		185
Green Bidco SA, (Spain), Reg. S, 10.25%, 07/15/2028	EUR	2,500		2,495
H&E Equipment Services, Inc., 3.88%, 12/15/2028 (e)		5,850		5,355
Resideo Funding, Inc., 4.00%, 09/01/2029 (e)		218		195
Ritchie Bros Holdings, Inc.,
6.75%, 03/15/2028 (e)		200		204
7.75%, 03/15/2031 (e)		650		681
Windsor Holdings III LLC, 8.50%, 06/15/2030 (e)		1,825		1,913
				12,790
Entertainment — 3.0%
888 Acquisitions Ltd., (Gibraltar), Reg. S, 7.56%, 07/15/2027	EUR	4,350		4,541
Allwyn Entertainment Financing UK plc, (United Kingdom),
Reg. S, 7.25%, 04/30/2030	EUR	9,892		11,206
7.88%, 04/30/2029 (e)		666		684
Banijay Entertainment SASU, (France),
Reg. S, 7.00%, 05/01/2029	EUR	9,660		10,930
8.13%, 05/01/2029 (e)		410		423
Banijay Group SAS, (France), Reg. S, 6.50%, 03/01/2026	EUR	4,000		4,335
Boyne USA, Inc., 4.75%, 05/15/2029 (e)		2,344		2,172
Caesars Entertainment, Inc.,
4.63%, 10/15/2029 (e)		11,806		10,764
6.25%, 07/01/2025 (e)		860		860
6.50%, 02/15/2032 (e)		6,014		6,070
7.00%, 02/15/2030 (e)		8,755		8,985
8.13%, 07/01/2027 (e)		2,594		2,657
CCM Merger, Inc., 6.38%, 05/01/2026 (e)		1,995		1,994
Cedar Fair LP / Canada’s Wonderland Co. / Magnum Management Corp. / Millennium Op,
5.38%, 04/15/2027		242		238
6.50%, 10/01/2028		3		3

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Churchill Downs, Inc.,
4.75%, 01/15/2028 (e)		3,495		3,330
5.50%, 04/01/2027 (e)		387		380
5.75%, 04/01/2030 (e)		11,099		10,737
6.75%, 05/01/2031 (e)		1,644		1,653
Cirsa Finance International Sarl, (Luxembourg),
Reg. S, 6.50%, 03/15/2029	EUR	100		110
6.50%, 03/15/2029 (e)	EUR	5,411		5,973
(ICE LIBOR EUR 3 Month + 4.50%), 8.41%, 07/31/2028 (e) (aa)	EUR	3,686		4,046
Reg. S, (ICE LIBOR EUR 3 Month + 4.50%), 8.41%, 07/31/2028 (aa)	EUR	4,460		4,896
CPUK Finance Ltd., (Jersey),
Reg. S, 3.59%, 08/28/2025	GBP	116		142
Reg. S, 4.50%, 08/28/2027	GBP	100		115
Reg. S, 4.88%, 08/28/2025	GBP	100		123
Everi Holdings, Inc., 5.00%, 07/15/2029 (e)		774		767
Golden Entertainment, Inc., 7.63%, 04/15/2026 (e)		3,029		3,029
Inter Media and Communication SpA, (Italy), Reg. S, 6.75%, 02/09/2027	EUR	200		211
International Game Technology plc, (United Kingdom),
Reg. S, 3.50%, 06/15/2026	EUR	15,540		16,555
5.25%, 01/15/2029 (e)		1,155		1,116
Jacobs Entertainment, Inc.,
6.75%, 02/15/2029 (e)		3,650		3,537
Light & Wonder International, Inc., 7.50%, 09/01/2031 (e)		1,574		1,638
Lions Gate Capital Holdings LLC, 5.50%, 04/15/2029 (e)		1,573		1,204
Live Nation Entertainment, Inc.,
3.75%, 01/15/2028 (e)		410		379
4.75%, 10/15/2027 (e)		3,321		3,172
6.50%, 05/15/2027 (e)		1,745		1,764
Lottomatica SpA, (Italy),
Reg. S, 7.13%, 06/01/2028	EUR	9,190		10,450
Reg. S, 9.75%, 09/30/2027	EUR	123		142
Merlin Entertainments Group US Holdings, Inc., 7.38%, 02/15/2031 (e)		2,324		2,342
Merlin Entertainments Ltd., (United Kingdom), 5.75%, 06/15/2026 (e)		1,555		1,544
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp., 4.88%, 05/01/2029 (e)		3,639		3,369
Motion Bondco DAC, (Ireland), 6.63%, 11/15/2027 (e)		1,347		1,302
Motion Finco Sarl, (Luxembourg), Reg. S, 7.38%, 06/15/2030	EUR	9,242		10,394
Odeon Finco plc, (United Kingdom), 12.75%, 11/01/2027 (e)		740		753
Ontario Gaming GTA LP / OTG Co-Issuer, Inc., (Canada), 8.00%, 08/01/2030 (e)		1,265		1,303
Penn Entertainment, Inc.,
4.13%, 07/01/2029 (e)		3,200		2,752
5.63%, 01/15/2027 (e)		3,709		3,579
Pinewood Finance Co. Ltd., (United Kingdom),
Reg. S, 3.25%, 09/30/2025	GBP	10,390		12,855
Reg. S, 3.63%, 11/15/2027	GBP	100		118
Pinewood Finco plc, (United Kingdom),
Reg. S, 6.00%, 03/27/2030	GBP	291		367
6.00%, 03/27/2030 (e)	GBP	6,840		8,633
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.88%, 09/01/2031 (e)		1,591		1,165
Raptor Acquisition Corp. / Raptor Co-Issuer LLC, 4.88%, 11/01/2026 (e)		1,092		1,051
Scientific Games Holdings LP / Scientific Games US FinCo., Inc., 6.63%, 03/01/2030 (e)		3,184		3,078

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
SeaWorld Parks & Entertainment, Inc., 8.75%, 05/01/2025 (e)		165		165
Six Flags Entertainment Corp., 7.25%, 05/15/2031 (e)		8,172		8,290
Warnermedia Holdings, Inc.,
3.76%, 03/15/2027		821		784
3.79%, 03/15/2025		112		110
6.41%, 03/15/2026		1,145		1,145
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.,
5.13%, 10/01/2029 (e)		6,772		6,417
7.13%, 02/15/2031 (e)		4,827		4,996
				217,843
Food Service — 0.1%
Aramark International Finance Sarl, (Luxembourg), Reg. S, 3.13%, 04/01/2025	EUR	693		738
Aramark Services, Inc., 5.00%, 02/01/2028 (e)		2,934		2,831
Elior Group SA, (France), Reg. S, 3.75%, 07/15/2026	EUR	200		202
				3,771
Home Builders — 1.0%
Ashton Woods USA LLC / Ashton Woods Finance Co.,
4.63%, 08/01/2029 (e)		2,433		2,245
4.63%, 04/01/2030 (e)		500		457
6.63%, 01/15/2028 (e)		1,575		1,580
Beazer Homes USA, Inc.,
5.88%, 10/15/2027		5,850		5,769
7.25%, 10/15/2029		3,425		3,470
7.50%, 03/15/2031 (e)		1,741		1,759
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC, (Canada),
4.88%, 02/15/2030 (e)		7,338		6,582
5.00%, 06/15/2029 (e)		1,586		1,439
6.25%, 09/15/2027 (e)		2,325		2,274
Dream Finders Homes, Inc., 8.25%, 08/15/2028 (e)		517		540
Empire Communities Corp., (Canada), 7.00%, 12/15/2025 (e)		225		226
Forestar Group, Inc.,
3.85%, 05/15/2026 (e)		2,475		2,372
5.00%, 03/01/2028 (e)		1,475		1,418
KB Home,
4.00%, 06/15/2031		1,025		909
4.80%, 11/15/2029		3,125		2,979
6.88%, 06/15/2027		698		721
7.25%, 07/15/2030		400		414
Landsea Homes Corp., 8.88%, 04/01/2029 (e) (w)		2,095		2,084
LGI Homes, Inc., 8.75%, 12/15/2028 (e)		585		617
M/I Homes, Inc., 4.95%, 02/01/2028		2,568		2,449
Mattamy Group Corp., (Canada),
4.63%, 03/01/2030 (e)		2,916		2,646
5.25%, 12/15/2027 (e)		4,822		4,678
Meritage Homes Corp., 5.13%, 06/06/2027		653		645
Miller Homes Group Finco plc, (United Kingdom), Reg. S, 7.00%, 05/15/2029	GBP	7,345		8,609
New Home Co., Inc. (The), 9.25%, 10/01/2029 (e) (w)		2,338		2,350
Shea Homes LP / Shea Homes Funding Corp.,
4.75%, 02/15/2028		3,800		3,615
4.75%, 04/01/2029		450		424

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
STL Holding Co. LLC, 8.75%, 02/15/2029 (e)		1,804		1,851
Taylor Morrison Communities, Inc.,
5.13%, 08/01/2030 (e)		2,721		2,599
5.75%, 01/15/2028 (e)		700		696
5.88%, 06/15/2027 (e)		1,845		1,844
Tri Pointe Homes, Inc.,
5.25%, 06/01/2027		450		440
5.70%, 06/15/2028		2,651		2,610
				73,311
Home Furnishings — 0.1%
Leggett & Platt, Inc., 3.50%, 11/15/2027		87		81
Tempur Sealy International, Inc.,
3.88%, 10/15/2031 (e)		135		114
4.00%, 04/15/2029 (e)		3,325		3,019
Versuni Group BV, (Netherlands), Reg. S, 3.13%, 06/15/2028	EUR	7,350		6,924
				10,138
Housewares — 0.2%
CD&R Smokey Buyer, Inc., 6.75%, 07/15/2025 (e)		1,230		1,220
Scotts Miracle-Gro Co. (The),
4.00%, 04/01/2031		2,416		2,083
4.38%, 02/01/2032		6,469		5,580
4.50%, 10/15/2029		1,948		1,765
SWF Escrow Issuer Corp., 6.50%, 10/01/2029 (e)		7,680		5,680
				16,328
Leisure Time — 2.0%
Acushnet Co., 7.38%, 10/15/2028 (e)		396		411
Amer Sports Co., 6.75%, 02/16/2031 (e)		3,127		3,124
Carnival Corp., (Panama),
4.00%, 08/01/2028 (e)		4,466		4,159
5.75%, 03/01/2027 (e)		7,500		7,425
6.00%, 05/01/2029 (e)		9,813		9,679
7.00%, 08/15/2029 (e)		844		880
7.63%, 03/01/2026 (e)		811		821
Reg. S, 7.63%, 03/01/2026	EUR	203		223
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/2028 (e)		15,356		16,755
Carnival plc, (United Kingdom), 1.00%, 10/28/2029	EUR	100		84
Lindblad Expeditions Holdings, Inc., 9.00%, 05/15/2028 (e)		3,617		3,824
Lindblad Expeditions LLC, 6.75%, 02/15/2027 (e)		1,385		1,396
MajorDrive Holdings IV LLC, 6.38%, 06/01/2029 (e)		938		880
NCL Corp. Ltd., (Bermuda),
3.63%, 12/15/2024 (e)		261		257
5.88%, 03/15/2026 (e)		7,571		7,470
5.88%, 02/15/2027 (e)		2,800		2,767
7.75%, 02/15/2029 (e)		3,687		3,831
8.13%, 01/15/2029 (e)		557		589
8.38%, 02/01/2028 (e)		2,042		2,157
NCL Finance Ltd., (Bermuda), 6.13%, 03/15/2028 (e)		2,308		2,281

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Pinnacle Bidco plc, (United Kingdom),
Reg. S, 8.25%, 10/11/2028	EUR	7,144		8,040
Reg. S, 10.00%, 10/11/2028	GBP	7,820		10,290
Royal Caribbean Cruises Ltd., (Liberia),
4.25%, 07/01/2026 (e)		589		568
5.38%, 07/15/2027 (e)		2,314		2,281
5.50%, 08/31/2026 (e)		425		421
5.50%, 04/01/2028 (e)		4,741		4,686
6.25%, 03/15/2032 (e)		2,084		2,102
7.25%, 01/15/2030 (e)		2,872		2,986
8.25%, 01/15/2029 (e)		1,633		1,729
9.25%, 01/15/2029 (e)		2,075		2,224
TUI AG, (Germany),
Reg. S, 5.88%, 03/15/2029	EUR	192		210
5.88%, 03/15/2029 (e)	EUR	5,800		6,347
TUI Cruises GmbH, (Germany), Reg. S, 6.50%, 05/15/2026	EUR	12,519		13,589
Viking Cruises Ltd., (Bermuda),
5.88%, 09/15/2027 (e)		3,563		3,497
6.25%, 05/15/2025 (e)		500		500
7.00%, 02/15/2029 (e)		705		708
9.13%, 07/15/2031 (e)		8,711		9,533
Viking Ocean Cruises Ship VII Ltd., (Bermuda), 5.63%, 02/15/2029 (e)		3,997		3,890
Vista Outdoor, Inc., 4.50%, 03/15/2029 (e)		725		726
VOC Escrow Ltd., (Bermuda), 5.00%, 02/15/2028 (e)		2,890		2,780
				146,120
Lodging — 2.3%
Accor SA, (France),
Reg. S, (EUR Swap Rate 5 Year + 3.25%), 2.63%, 01/30/2025 (x) (aa)	EUR	8,100		8,573
Reg. S, (EUR Swap Rate 5 Year + 4.11%), 7.25%, 01/11/2029 (x) (aa)	EUR	400		474
Boyd Gaming Corp., 4.75%, 06/15/2031 (e)		4,446		4,086
Champion Path Holdings Ltd., (British Virgin Islands),
Reg. S, 4.50%, 01/27/2026		6,752		6,423
Reg. S, 4.85%, 01/27/2028		2,900		2,630
Fortune Star BVI Ltd., (British Virgin Islands),
Reg. S, 3.95%, 10/02/2026	EUR	600		519
Reg. S, 5.00%, 05/18/2026		5,700		4,764
Reg. S, 5.05%, 01/27/2027		3,300		2,684
Reg. S, 5.95%, 10/19/2025		5,300		4,842
Reg. S, 6.85%, 07/02/2024		600		590
Genting New York LLC / GENNY Capital, Inc., 3.30%, 02/15/2026 (e)		270		259
Hilton Domestic Operating Co., Inc.,
3.63%, 02/15/2032 (e)		3,178		2,737
3.75%, 05/01/2029 (e)		835		766
4.00%, 05/01/2031 (e)		1,401		1,254
4.88%, 01/15/2030		949		910
5.88%, 04/01/2029 (e)		1,200		1,202
6.13%, 04/01/2032 (e)		1,273		1,278

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 6.63%, 01/15/2032 (e)		1,050		1,054
Las Vegas Sands Corp.,
2.90%, 06/25/2025		966		930
3.50%, 08/18/2026		620		587
3.90%, 08/08/2029		18		16
Melco Resorts Finance Ltd., (Cayman Islands),
4.88%, 06/06/2025 (e)		1,100		1,074
Reg. S, 4.88%, 06/06/2025		3,280		3,202
5.38%, 12/04/2029 (e)		4,305		3,928
Reg. S, 5.38%, 12/04/2029		2,000		1,825
5.63%, 07/17/2027 (e)		200		191
Reg. S, 5.63%, 07/17/2027		1,800		1,722
5.75%, 07/21/2028 (e)		600		568
Reg. S, 5.75%, 07/21/2028		18,950		17,947
MGM China Holdings Ltd., (Cayman Islands),
4.75%, 02/01/2027 (e)		350		334
Reg. S, 4.75%, 02/01/2027		2,800		2,667
5.25%, 06/18/2025 (e)		2,200		2,169
Reg. S, 5.25%, 06/18/2025		6,170		6,082
5.38%, 05/15/2024 (e)		200		199
5.88%, 05/15/2026 (e)		200		198
Reg. S, 5.88%, 05/15/2026		3,600		3,555
MGM Resorts International,
4.63%, 09/01/2026		450		440
4.75%, 10/15/2028		5,226		4,969
5.50%, 04/15/2027		2,600		2,578
5.75%, 06/15/2025		475		475
6.50%, 04/15/2032 (w)		1,480		1,475
Station Casinos LLC,
4.50%, 02/15/2028 (e)		2,684		2,528
4.63%, 12/01/2031 (e)		1,170		1,051
6.63%, 03/15/2032 (e)		1,308		1,322
Studio City Co. Ltd., (British Virgin Islands), Reg. S, 7.00%, 02/15/2027		3,300		3,302
Studio City Finance Ltd., (British Virgin Islands),
Reg. S, 5.00%, 01/15/2029		1,200		1,056
Reg. S, 6.00%, 07/15/2025		6,191		6,091
Reg. S, 6.50%, 01/15/2028		1,100		1,048
Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp., 5.88%, 05/15/2025 (e)		2,751		2,743
Wynn Macau Ltd., (Cayman Islands),
Reg. S, 4.88%, 10/01/2024		2,000		1,976
5.13%, 12/15/2029 (e)		2,476		2,262
Reg. S, 5.13%, 12/15/2029		650		594
5.50%, 01/15/2026 (e)		3,675		3,582
Reg. S, 5.50%, 01/15/2026		18,150		17,689
5.50%, 10/01/2027 (e)		2,130		2,039
Reg. S, 5.50%, 10/01/2027		3,400		3,256
5.63%, 08/26/2028 (e)		10,592		10,046
Reg. S, 5.63%, 08/26/2028		3,900		3,699
				166,460

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 2.4%
1011778 BC ULC / New Red Finance, Inc., (Canada),
3.50%, 02/15/2029 (e)		2,900		2,648
3.88%, 01/15/2028 (e)		240		226
4.00%, 10/15/2030 (e)		4,274		3,801
4.38%, 01/15/2028 (e)		767		724
Arko Corp., 5.13%, 11/15/2029 (e)		2,074		1,722
Asbury Automotive Group, Inc.,
4.75%, 03/01/2030		3		3
5.00%, 02/15/2032 (e)		793		718
BCPE Ulysses Intermediate, Inc., 7.75% (cash), 04/01/2027 (e) (v)		975		965
Beacon Roofing Supply, Inc.,
4.13%, 05/15/2029 (e)		768		696
6.50%, 08/01/2030 (e)		1,446		1,468
Brinker International, Inc.,
5.00%, 10/01/2024 (e)		643		637
8.25%, 07/15/2030 (e)		2,625		2,766
Carrols Restaurant Group, Inc., 5.88%, 07/01/2029 (e)		675		684
Carvana Co.,
12.00% (PIK), 12/01/2028 (e) (v)		869		850
13.00% (PIK), 06/01/2030 (e) (v)		882		863
14.00% (PIK), 06/01/2031 (e) (v)		405		407
Constellation Automotive Financing plc, (United Kingdom), Reg. S, 4.88%, 07/15/2027	GBP	100		103
Douglas Service GmbH, (Germany), Reg. S, 6.00%, 04/08/2026	EUR	10,374		11,337
Dufry One BV, (Netherlands), Reg. S, 3.38%, 04/15/2028	EUR	8,020		8,317
eG Global Finance plc, (United Kingdom), 12.00%, 11/30/2028 (e)		4,573		4,863
Eroski S Coop, (Spain), Reg. S, 10.63%, 04/30/2029	EUR	10,731		12,370
Ferrellgas LP / Ferrellgas Finance Corp.,
5.38%, 04/01/2026 (e)		300		293
5.88%, 04/01/2029 (e)		335		320
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.,
4.63%, 01/15/2029 (e)		3,199		2,934
6.75%, 01/15/2030 (e)		8,569		7,691
Foundation Building Materials, Inc., 6.00%, 03/01/2029 (e)		4,109		3,780
Gap, Inc. (The),
3.63%, 10/01/2029 (e)		1,475		1,292
3.88%, 10/01/2031 (e)		1,830		1,548
Goldstory SAS, (France),
Reg. S, 6.75%, 02/01/2030	EUR	2,000		2,201
6.75%, 02/01/2030 (e)	EUR	4,000		4,403
(ICE LIBOR EUR 3 Month + 4.00%), 7.91%, 02/01/2030 (e) (aa)	EUR	3,108		3,380
Reg. S, (ICE LIBOR EUR 3 Month + 4.00%), 7.91%, 02/01/2030 (aa)	EUR	300		326
GYP Holdings III Corp., 4.63%, 05/01/2029 (e)		2,635		2,449
Jollibee Worldwide Pte Ltd., (Singapore), Reg. S, 4.13%, 01/24/2026		4,200		4,055
Ken Garff Automotive LLC, 4.88%, 09/15/2028 (e)		3		3
LBM Acquisition LLC, 6.25%, 01/15/2029 (e)		2,900		2,718
LCM Investments Holdings II LLC,
4.88%, 05/01/2029 (e)		5,617		5,162
8.25%, 08/01/2031 (e)		5,566		5,822
LS Finance 2017 Ltd., (British Virgin Islands), Reg. S, 4.80%, 06/18/2026		700		613
NMG Holding Co., Inc. / Neiman Marcus Group LLC, 7.13%, 04/01/2026 (e)		579		568

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Park River Holdings, Inc.,
5.63%, 02/01/2029 (e)		3,275		2,785
6.75%, 08/01/2029 (e)		1,625		1,445
Patrick Industries, Inc.,
4.75%, 05/01/2029 (e)		2,950		2,755
7.50%, 10/15/2027 (e)		60		61
PetSmart, Inc. / PetSmart Finance Corp.,
4.75%, 02/15/2028 (e)		250		234
7.75%, 02/15/2029 (e)		4,830		4,706
PEU Fin plc, (United Kingdom), Reg. S, 7.25%, 07/01/2028	EUR	11,786		13,023
Raising Cane’s Restaurants LLC, 9.38%, 05/01/2029 (e)		646		698
Sally Holdings LLC / Sally Capital, Inc., 6.75%, 03/01/2032		2,445		2,427
Sizzling Platter LLC / Sizzling Platter Finance Corp., 8.50%, 11/28/2025 (e)		525		530
SRS Distribution, Inc.,
4.63%, 07/01/2028 (e)		5,095		5,133
6.00%, 12/01/2029 (e)		8,311		8,480
6.13%, 07/01/2029 (e)		5,012		5,114
Stonegate Pub Co. Financing 2019 plc, (United Kingdom), Reg. S, 8.00%, 07/13/2025	GBP	150		184
Suburban Propane Partners LP / Suburban Energy Finance Corp.,
5.00%, 06/01/2031 (e)		3,975		3,624
5.88%, 03/01/2027		1,550		1,532
Superior Plus LP / Superior General Partner, Inc., (Canada), 4.50%, 03/15/2029 (e)		3,756		3,472
Walgreens Boots Alliance, Inc.,
3.20%, 04/15/2030		138		120
3.45%, 06/01/2026		209		199
4.10%, 04/15/2050		659		483
4.80%, 11/18/2044		440		369
White Cap Buyer LLC, 6.88%, 10/15/2028 (e)		12,651		12,407
White Cap Parent LLC, 8.25% (cash), 03/15/2026 (e) (v)		1,350		1,349
Yum! Brands, Inc., 4.75%, 01/15/2030 (e)		752		713
				177,569
Toys/Games/Hobbies — 0.0% (g)
Hasbro, Inc., 3.90%, 11/19/2029		724		672
Total Consumer Cyclical				1,061,854
Consumer Non-cyclical — 11.7%
Agriculture — 0.2%
BAT Capital Corp.,
3.56%, 08/15/2027		717		679
4.70%, 04/02/2027		274		269
BAT International Finance plc, (United Kingdom), 5.93%, 02/02/2029		142		146
Darling Ingredients, Inc., 6.00%, 06/15/2030 (e)		2,720		2,696
Imperial Brands Finance plc, (United Kingdom),
3.13%, 07/26/2024 (e)		243		241
6.13%, 07/27/2027 (e)		1,055		1,077
Japfa Comfeed Indonesia Tbk. PT, (Indonesia), Reg. S, 5.38%, 03/23/2026		2,900		2,655
Philip Morris International, Inc.,
4.75%, 02/12/2027		1,447		1,440
4.88%, 02/13/2029		1,618		1,609
5.13%, 11/17/2027		193		194

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Reynolds American, Inc., 4.45%, 06/12/2025		175		173
Tereos Finance Groupe I SA, (France), Reg. S, 7.25%, 04/15/2028	EUR	275		313
Vector Group Ltd., 5.75%, 02/01/2029 (e)		4,025		3,729
Viterra Finance BV, (Netherlands),
2.00%, 04/21/2026 (e)		1,000		929
4.90%, 04/21/2027 (e)		400		393
				16,543
Beverages — 0.1%
Bacardi Ltd. / Bacardi-Martini BV, (Multinational), 5.25%, 01/15/2029 (e)		179		177
Primo Water Holdings, Inc., Reg. S, 3.88%, 10/31/2028	EUR	3,500		3,620
				3,797
Biotechnology — 0.2%
Amgen, Inc.,
5.15%, 03/02/2028		45		45
5.25%, 03/02/2025		123		123
5.51%, 03/02/2026		633		632
Cidron Aida Finco Sarl, (Luxembourg),
Reg. S, 5.00%, 04/01/2028	EUR	10,398		10,867
Reg. S, 6.25%, 04/01/2028	GBP	400		484
Illumina, Inc.,
5.75%, 12/13/2027		151		153
5.80%, 12/12/2025		38		38
				12,342
Commercial Services — 4.5%
AA Bond Co. Ltd., (Jersey), Reg. S, 7.38%, 07/31/2029	GBP	5,800		7,555
Adani Ports & Special Economic Zone Ltd., (India),
Reg. S, 4.20%, 08/04/2027		1,000		923
Reg. S, 4.38%, 07/03/2029		1,000		891
ADT Security Corp. (The),
4.13%, 08/01/2029 (e)		1,209		1,107
4.88%, 07/15/2032 (e)		1,923		1,741
Adtalem Global Education, Inc., 5.50%, 03/01/2028 (e)		2,025		1,939
Albion Financing 1 Sarl / Aggreko Holdings, Inc., (Luxembourg),
Reg. S, 5.25%, 10/15/2026	EUR	8,000		8,683
6.13%, 10/15/2026 (e)		200		198
Allied Universal Holdco LLC, 7.88%, 02/15/2031 (e)		10,296		10,430
Allied Universal Holdco LLC / Allied Universal Finance Corp.,
6.00%, 06/01/2029 (e)		9,949		8,568
6.63%, 07/15/2026 (e)		3,222		3,221
9.75%, 07/15/2027 (e)		10,920		10,950
Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas Luxco 4 Sarl, (Multinational),
Reg. S, 3.63%, 06/01/2028	EUR	160		160
4.63%, 06/01/2028 (e)		13,222		12,038
Reg. S, 4.88%, 06/01/2028	GBP	400		455
Alta Equipment Group, Inc., 5.63%, 04/15/2026 (e)		900		880
AMN Healthcare, Inc.,
4.00%, 04/15/2029 (e)		1,750		1,573
4.63%, 10/01/2027 (e)		2,277		2,163

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
APi Group DE, Inc.,
4.13%, 07/15/2029 (e)		1,730		1,558
4.75%, 10/15/2029 (e)		450		415
APX Group, Inc.,
5.75%, 07/15/2029 (e)		1,909		1,835
6.75%, 02/15/2027 (e)		154		155
Avis Budget Car Rental LLC / Avis Budget Finance, Inc.,
4.75%, 04/01/2028 (e)		2,825		2,612
8.00%, 02/15/2031 (e)		1,357		1,355
Avis Budget Finance plc, (Jersey),
Reg. S, 4.75%, 01/30/2026	EUR	300		323
7.00%, 02/28/2029 (e)	EUR	5,480		5,863
Reg. S, 7.25%, 07/31/2030	EUR	13,375		14,357
BCP V Modular Services Finance II plc, (United Kingdom),
Reg. S, 4.75%, 11/30/2028	EUR	3,953		3,987
Reg. S, 6.13%, 11/30/2028	GBP	1,100		1,274
BCP V Modular Services Finance plc, (United Kingdom), Reg. S, 6.75%, 11/30/2029	EUR	5,184		4,908
Block, Inc.,
2.75%, 06/01/2026		2,004		1,884
3.50%, 06/01/2031		9,387		8,180
Boels Topholding BV, (Netherlands), Reg. S, 6.25%, 02/15/2029	EUR	3,200		3,556
Boost Newco Borrower LLC, 7.50%, 01/15/2031 (e)		7,732		8,098
Boost Newco Borrower LLC / GTCR W Dutch Finance Sub BV, (Netherlands), Reg. S, 8.50%, 01/15/2031	GBP	9,870		13,423
Brink’s Co. (The),
4.63%, 10/15/2027 (e)		1,738		1,650
5.50%, 07/15/2025 (e)		625		622
Carriage Services, Inc., 4.25%, 05/15/2029 (e)		1,554		1,379
Champions Financing, Inc., 8.75%, 02/15/2029 (e)		1,995		2,090
CoreLogic, Inc., 4.50%, 05/01/2028 (e)		6,873		6,162
DP World Ltd., (United Arab Emirates), Reg. S, 4.70%, 09/30/2049		1,300		1,074
eHi Car Services Ltd., (Cayman Islands),
Reg. S, 7.00%, 09/21/2026		2,550		2,282
Reg. S, 12.00%, 09/26/2027 (c)		2,000		1,900
Garda World Security Corp., (Canada),
4.63%, 02/15/2027 (e)		904		866
6.00%, 06/01/2029 (e)		587		525
7.75%, 02/15/2028 (e)		5,595		5,737
9.50%, 11/01/2027 (e)		1,234		1,237
Gartner, Inc.,
3.75%, 10/01/2030 (e)		500		448
4.50%, 07/01/2028 (e)		253		241
Global Payments, Inc.,
2.65%, 02/15/2025		47		46
4.45%, 06/01/2028		155		150
Herc Holdings, Inc., 5.50%, 07/15/2027 (e)		4,005		3,933
Hertz Corp. (The),
4.63%, 12/01/2026 (e)		400		363
5.00%, 12/01/2029 (e)		1,825		1,407
House of HR Group BV, (Netherlands), Reg. S, 9.00%, 11/03/2029	EUR	1,788		2,028
La Financiere Atalian SASU, (France), Reg. S, 8.50%, 06/30/2028 (bb)	EUR	148		166

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Loxam SAS, (France),
Reg. S, 4.50%, 02/15/2027	EUR	7,030		7,538
Reg. S, 6.38%, 05/15/2028	EUR	400		448
Mavis Tire Express Services Topco Corp., 6.50%, 05/15/2029 (e)		6,410		6,096
Mersin Uluslararasi Liman Isletmeciligi A/S, (Turkey), 8.25%, 11/15/2028 (e)		1,900		1,961
MPH Acquisition Holdings LLC, 5.50%, 09/01/2028 (e)		4,025		3,423
Mundys SpA, (Italy), Reg. S, 1.88%, 02/12/2028	EUR	9,380		9,305
Neptune Bidco US, Inc., 9.29%, 04/15/2029 (e)		2,381		2,252
NESCO Holdings II, Inc., 5.50%, 04/15/2029 (e)		3,486		3,295
Nexi SpA, (Italy), Reg. S, 1.63%, 04/30/2026	EUR	3,880		3,971
Pelabuhan Indonesia Persero PT, (Indonesia), Reg. S, 5.38%, 05/05/2045		1,600		1,531
Prime Security Services Borrower LLC / Prime Finance, Inc., 6.25%, 01/15/2028 (e)		3,392		3,325
Q-Park Holding I BV, (Netherlands), Reg. S, 5.13%, 03/01/2029	EUR	110		120
Rekeep SpA, (Italy), Reg. S, 7.25%, 02/01/2026	EUR	1,963		1,902
Royal Capital BV, (Netherlands),
Reg. S, (CMT Index 5 Year + 5.93%), 4.88%, 05/05/2024 (x) (aa)		1,131		1,124
Reg. S, (CMT Index 5 Year + 7.40%), 5.00%, 02/05/2026 (x) (aa)		6,150		6,044
Rutas 2 & 7 Finance Ltd., (Cayman Islands), Reg. S, Zero Coupon, 09/30/2036		1,820		1,235
Sabre GLBL, Inc.,
8.63%, 06/01/2027 (e)		3,311		2,905
11.25%, 12/15/2027 (e)		150		141
Service Corp. International,
3.38%, 08/15/2030		770		667
4.00%, 05/15/2031		3,102		2,749
5.13%, 06/01/2029		970		944
7.50%, 04/01/2027		650		673
Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/2026 (e)		3,564		3,446
Sotheby’s, 7.38%, 10/15/2027 (e)		5,938		5,530
Sotheby’s / Bidfair Holdings, Inc., 5.88%, 06/01/2029 (e)		2,801		2,355
Techem Verwaltungsgesellschaft 674 mbH, (Germany), Reg. S, 6.00%, 07/30/2026	EUR	7,535		8,096
Techem Verwaltungsgesellschaft 675 mbH, (Germany),
Reg. S, 2.00%, 07/15/2025	EUR	5,810		6,144
Triton Container International Ltd., (Bermuda),
1.15%, 06/07/2024 (e)		718		712
2.05%, 04/15/2026 (e)		1,119		1,031
United Rentals North America, Inc.,
3.75%, 01/15/2032		5,347		4,668
3.88%, 02/15/2031		895		802
4.88%, 01/15/2028		2,025		1,971
5.25%, 01/15/2030		425		415
6.00%, 12/15/2029 (e)		4,678		4,709
6.13%, 03/15/2034 (e)		1,106		1,108
Valvoline, Inc., 3.63%, 06/15/2031 (e)		2,251		1,942
Verisure Holding AB, (Sweden),
Reg. S, 3.25%, 02/15/2027	EUR	6,300		6,504
Reg. S, 3.88%, 07/15/2026	EUR	14,753		15,652
Reg. S, 9.25%, 10/15/2027	EUR	316		364
Verisure Midholding AB, (Sweden), Reg. S, 5.25%, 02/15/2029	EUR	950		989
Verscend Escrow Corp., 9.75%, 08/15/2026 (e)		6,775		6,794
VT Topco, Inc., 8.50%, 08/15/2030 (e)		525		551
Wand NewCo. 3 Inc, 7.63%, 01/30/2032 (e)		4,663		4,824

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Williams Scotsman, Inc.,
4.63%, 08/15/2028 (e)		1,309		1,238
7.38%, 10/01/2031 (e)		1,939		2,016
				325,074
Cosmetics/Personal Care — 0.1%
Coty, Inc., Reg. S, 4.75%, 04/15/2026	EUR	3,553		3,814
Coty, Inc. / HFC Prestige Products, Inc. / HFC Prestige International US LLC,
4.75%, 01/15/2029 (e)		62		59
6.63%, 07/15/2030 (e)		1,808		1,836
				5,709
Food — 2.0%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC,
3.25%, 03/15/2026 (e)		195		186
3.50%, 03/15/2029 (e)		6,038		5,422
4.63%, 01/15/2027 (e)		714		691
4.88%, 02/15/2030 (e)		1,478		1,407
6.50%, 02/15/2028 (e)		2,494		2,520
B&G Foods, Inc.,
5.25%, 04/01/2025		623		620
5.25%, 09/15/2027		4,946		4,622
8.00%, 09/15/2028 (e)		2,950		3,072
Bellis Acquisition Co. plc , (United Kingdom),
Reg. S, 3.25%, 02/16/2026	GBP	3,490		4,153
Reg. S, 4.50%, 02/16/2026	GBP	16,963		20,607
Boparan Finance plc, (United Kingdom), Reg. S, 7.63%, 11/30/2025	GBP	103		123
C&S Group Enterprises LLC, 5.00%, 12/15/2028 (e)		225		180
Campbell Soup Co.,
5.20%, 03/19/2027		136		136
5.20%, 03/21/2029		102		103
5.30%, 03/20/2026		136		136
China Modern Dairy Holdings Ltd., (Cayman Islands), Reg. S, 2.13%, 07/14/2026		6,300		5,709
Chobani LLC / Chobani Finance Corp., Inc.,
4.63%, 11/15/2028 (e)		4,457		4,159
7.63%, 07/01/2029 (e)		10,316		10,433
Conagra Brands, Inc., 5.30%, 10/01/2026		134		134
Darling Global Finance BV, (Netherlands), Reg. S, 3.63%, 05/15/2026	EUR	300		319
Fiesta Purchaser, Inc., 7.88%, 03/01/2031 (e)		858		886
FPC Resources Ltd., (British Virgin Islands), Reg. S, 4.38%, 09/11/2027		300		290
Iceland Bondco plc, (United Kingdom),
Reg. S, 4.38%, 05/15/2028	GBP	6,373		6,797
Reg. S, (ICE LIBOR EUR 3 Month + 5.50%), 9.40%, 12/15/2027 (aa)	EUR	5,750		6,238
Indofood CBP Sukses Makmur Tbk. PT, (Indonesia), Reg. S, 4.75%, 06/09/2051		3,300		2,681
JGSH Philippines Ltd., (British Virgin Islands), Reg. S, 4.13%, 07/09/2030		6,350		5,939
Lamb Weston Holdings, Inc.,
4.13%, 01/31/2030 (e)		3,489		3,184
4.38%, 01/31/2032 (e)		4,171		3,751
4.88%, 05/15/2028 (e)		72		70

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Market Bidco Finco plc, (United Kingdom), Reg. S, 5.50%, 11/04/2027	GBP	13,757		15,809
NBM US Holdings, Inc., 7.00%, 05/14/2026 (e)		200		201
Ocado Group plc, (United Kingdom), Reg. S, 3.88%, 10/08/2026	GBP	8,121		9,174
Performance Food Group, Inc.,
4.25%, 08/01/2029 (e)		111		102
5.50%, 10/15/2027 (e)		1,895		1,859
Picard Groupe SAS, (France), Reg. S, 3.88%, 07/01/2026	EUR	100		105
Pilgrim’s Pride Corp.,
3.50%, 03/01/2032		2,600		2,208
4.25%, 04/15/2031		8,148		7,332
Post Holdings, Inc.,
4.50%, 09/15/2031 (e)		1,905		1,714
4.63%, 04/15/2030 (e)		2,305		2,118
5.50%, 12/15/2029 (e)		2,400		2,320
6.25%, 02/15/2032 (e)		2,284		2,301
Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 4.63%, 03/01/2029 (e)		1,139		1,005
United Natural Foods, Inc., 6.75%, 10/15/2028 (e)		123		102
US Foods, Inc.,
4.75%, 02/15/2029 (e)		1,879		1,784
6.88%, 09/15/2028 (e)		672		688
7.25%, 01/15/2032 (e)		1,051		1,094
				144,484
Healthcare—Products — 0.7%
Avantor Funding, Inc.,
Reg. S, 2.63%, 11/01/2025	EUR	1,081		1,137
Reg. S, 3.88%, 07/15/2028	EUR	100		105
3.88%, 11/01/2029 (e)		983		886
4.63%, 07/15/2028 (e)		1,663		1,575
Bausch + Lomb Corp., (Canada), 8.38%, 10/01/2028 (e)		12,090		12,475
Baxter International, Inc., 1.32%, 11/29/2024		173		168
Embecta Corp.,
5.00%, 02/15/2030 (e)		850		694
6.75%, 02/15/2030 (e)		300		260
Medline Borrower LP,
3.88%, 04/01/2029 (e)		14,527		13,237
5.25%, 10/01/2029 (e)		9,832		9,292
Medline Borrower LP / Medline Co-Issuer, Inc., 6.25%, 04/01/2029 (e)		3,807		3,827
Neogen Food Safety Corp., 8.63%, 07/20/2030 (e)		942		1,015
Solventum Corp.,
5.40%, 03/01/2029 (e)		1,800		1,804
5.45%, 02/25/2027 (e)		425		426
Teleflex, Inc., 4.25%, 06/01/2028 (e)		1,284		1,205
				48,106
Healthcare—Services — 1.9%
Acadia Healthcare Co., Inc., 5.00%, 04/15/2029 (e)		126		120
AHP Health Partners, Inc., 5.75%, 07/15/2029 (e)		3,379		3,075
CAB SELAS, (France), Reg. S, 3.38%, 02/01/2028	EUR	12,120		11,819

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Catalent Pharma Solutions, Inc.,
Reg. S, 2.38%, 03/01/2028	EUR	100		102
3.13%, 02/15/2029 (e)		2,897		2,768
3.50%, 04/01/2030 (e)		2,285		2,176
5.00%, 07/15/2027 (e)		1,103		1,086
Centene Corp.,
2.45%, 07/15/2028		784		695
4.25%, 12/15/2027		1,102		1,051
Cerba Healthcare SACA, (France), Reg. S, 3.50%, 05/31/2028	EUR	7,308		6,792
Charles River Laboratories International, Inc.,
4.00%, 03/15/2031 (e)		15		14
4.25%, 05/01/2028 (e)		1,363		1,286
CHS / Community Health Systems, Inc.,
4.75%, 02/15/2031 (e)		7,727		5,970
5.25%, 05/15/2030 (e)		3,556		2,900
5.63%, 03/15/2027 (e)		3,665		3,370
6.00%, 01/15/2029 (e)		1,670		1,458
Clariane SE, (France), Reg. S, (UK Gilts 5 Year + 9.08%), 4.13%, 04/29/2024 (x) (aa)	GBP	200		157
DaVita, Inc.,
3.75%, 02/15/2031 (e)		9,632		8,063
4.63%, 06/01/2030 (e)		5,425		4,858
Encompass Health Corp.,
4.50%, 02/01/2028		55		52
4.63%, 04/01/2031		1,968		1,789
4.75%, 02/01/2030		984		922
Ephios Subco 3 Sarl, (Luxembourg), Reg. S, 7.88%, 01/31/2031	EUR	234		265
Eurofins Scientific SE, (Luxembourg), Reg. S, (ICE LIBOR EUR 3 Month + 4.24%), 6.75%, 04/14/2028 (x) (aa)	EUR	4,785		5,410
Fortrea Holdings, Inc., 7.50%, 07/01/2030 (e)		876		905
HCA, Inc.,
5.25%, 04/15/2025		500		498
7.05%, 12/01/2027		950		999
7.50%, 11/06/2033		1,650		1,848
HealthEquity, Inc., 4.50%, 10/01/2029 (e)		5,585		5,154
Humana, Inc., 5.70%, 03/13/2026		102		102
IQVIA, Inc.,
Reg. S, 1.75%, 03/15/2026	EUR	200		206
Reg. S, 2.25%, 03/15/2029	EUR	100		97
5.00%, 05/15/2027 (e)		200		195
6.25%, 02/01/2029		636		661
6.50%, 05/15/2030 (e)		778		794
Laboratoire Eimer Selas, (France), Reg. S, 5.00%, 02/01/2029	EUR	1,530		1,404
Legacy LifePoint Health LLC, 4.38%, 02/15/2027 (e)		2,520		2,403
LifePoint Health, Inc.,
5.38%, 01/15/2029 (e)		2,650		2,184
9.88%, 08/15/2030 (e)		848		887
11.00%, 10/15/2030 (e)		5,658		6,047
ModivCare, Inc., 5.88%, 11/15/2025 (e)		1,530		1,490

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Molina Healthcare, Inc.,
3.88%, 11/15/2030 (e)		334		297
3.88%, 05/15/2032 (e)		966		841
4.38%, 06/15/2028 (e)		217		204
Prime Healthcare Services, Inc., 7.25%, 11/01/2025 (e)		2,340		2,334
RegionalCare Hospital Partners Holdings, Inc. / LifePoint Health, Inc., 9.75%, 12/01/2026 (e)		4,921		4,928
Star Parent, Inc., 9.00%, 10/01/2030 (e)		7,929		8,391
Surgery Center Holdings, Inc.,
6.75%, 07/01/2025 (e)		427		427
7.25%, 04/15/2032 (e) (w)		3,934		3,967
10.00%, 04/15/2027 (e)		2,518		2,522
Tenet Healthcare Corp.,
4.25%, 06/01/2029		8,362		7,774
4.38%, 01/15/2030		10,477		9,684
6.13%, 06/15/2030		1,010		1,008
6.75%, 05/15/2031 (e)		6,694		6,816
				141,265
Household Products/Wares — 0.1%
ACCO Brands Corp., 4.25%, 03/15/2029 (e)		3,129		2,817
Central Garden & Pet Co.,
4.13%, 10/15/2030		79		71
4.13%, 04/30/2031 (e)		1,178		1,038
5.13%, 02/01/2028		360		349
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.,
5.00%, 12/31/2026 (e)		450		441
7.00%, 12/31/2027 (e)		2,350		2,334
Spectrum Brands, Inc., 3.88%, 03/15/2031 (e)		2,130		2,052
				9,102
Pharmaceuticals — 1.9%
1375209 BC Ltd., (Canada), 9.00%, 01/30/2028 (e)		1,954		1,915
AdaptHealth LLC,
4.63%, 08/01/2029 (e)		3,625		3,119
5.13%, 03/01/2030 (e)		1,825		1,591
6.13%, 08/01/2028 (e)		1,690		1,587
Bausch Health Americas, Inc., 8.50%, 01/31/2027 (e)		125		74
Bausch Health Cos., Inc., (Canada),
5.00%, 01/30/2028 (e)		2,125		949
5.00%, 02/15/2029 (e)		4,225		1,764
5.25%, 01/30/2030 (e)		5,635		2,327
5.25%, 02/15/2031 (e)		2,370		979
6.25%, 02/15/2029 (e)		6,918		2,958
7.00%, 01/15/2028 (e)		450		200
Bayer AG, (Germany),
Reg. S, (EUR Swap Rate 5 Year + 3.11%), 3.13%, 11/12/2079 (aa)	EUR	4,000		3,808
Reg. S, (EUR Swap Rate 5 Year + 3.75%), 4.50%, 03/25/2082 (aa)	EUR	500		504
Reg. S, (EUR Swap Rate 5 Year + 3.90%), 7.00%, 09/25/2083 (aa)	EUR	12,200		13,233

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Bayer US Finance II LLC,
4.25%, 12/15/2025 (e)		2,300		2,243
4.38%, 12/15/2028 (e)		311		293
Bayer US Finance LLC,
6.25%, 01/21/2029 (e)		400		407
Reg. S, 6.88%, 11/21/2053		2,000		2,052
Cheplapharm Arzneimittel GmbH, (Germany),
Reg. S, 4.38%, 01/15/2028	EUR	10,080		10,512
5.50%, 01/15/2028 (e)		2,033		1,948
Reg. S, 7.50%, 05/15/2030	EUR	7,304		8,313
Grifols SA, (Spain), Reg. S, 3.88%, 10/15/2028	EUR	11,651		9,912
Gruenenthal GmbH, (Germany),
Reg. S, 3.63%, 11/15/2026	EUR	4,650		4,904
Reg. S, 6.75%, 05/15/2030	EUR	300		342
Health & Happiness H&H International Holdings Ltd., (Cayman Islands), Reg. S, 13.50%, 06/26/2026		3,600		3,840
Jazz Securities DAC, (Ireland), 4.38%, 01/15/2029 (e)		1,678		1,562
Nidda Healthcare Holding GmbH, (Germany), Reg. S, 7.50%, 08/21/2026	EUR	20,593		22,866
Option Care Health, Inc., 4.38%, 10/31/2029 (e)		957		878
Organon & Co. / Organon Foreign Debt Co-Issuer BV,
Reg. S, 2.88%, 04/30/2028	EUR	8,290		8,316
4.13%, 04/30/2028 (e)		3,098		2,888
5.13%, 04/30/2031 (e)		7,558		6,696
P&L Development LLC / PLD Finance Corp., 7.75%, 11/15/2025 (e)		1,733		1,447
Teva Pharmaceutical Finance Netherlands II BV, (Netherlands),
4.38%, 05/09/2030	EUR	5,403		5,602
7.38%, 09/15/2029	EUR	200		238
Teva Pharmaceutical Finance Netherlands III BV, (Netherlands),
3.15%, 10/01/2026		4,584		4,284
7.13%, 01/31/2025		200		201
7.88%, 09/15/2029		3,788		4,066
8.13%, 09/15/2031		1,248		1,369
				140,187
Total Consumer Non-cyclical				846,609
Diversified — 0.2%
Holding Companies—Diversified — 0.2%
Benteler International AG, (Austria), Reg. S, 9.38%, 05/15/2028	EUR	6,770		7,847
ProGroup AG, (Germany),
Reg. S, 5.13%, 04/15/2029 (w)	EUR	100		108
Reg. S, 5.38%, 04/15/2031 (w)	EUR	129		139
San Miguel Corp., (Philippines), Reg. S, (CMT Index 5 Year + 10.24%), 5.50%, 07/29/2025 (x) (aa)		4,350		4,224
Stena International SA, (Luxembourg), 7.25%, 01/15/2031 (e)		300		299
Total Diversified				12,617
Energy — 8.5%
Coal — 0.2%
Adaro Indonesia PT, (Indonesia), Reg. S, 4.25%, 10/31/2024		6,150		6,068
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp., 7.50%, 05/01/2025 (e)		489		487

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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)		784		791
Coronado Finance Pty Ltd., (Australia), 10.75%, 05/15/2026 (e)		1,504		1,567
Indika Energy Capital IV Pte Ltd., (Singapore), Reg. S, 8.25%, 10/22/2025		3,350		3,392
				12,305
Energy—Alternate Sources — 0.7%
Adani Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energ, (India),
6.70%, 03/12/2042 (e)		4,000		3,866
Reg. S, 6.70%, 03/12/2042 (c)		1,100		1,063
Adani Renewable Energy RJ Ltd. / Kodangal Solar Parks Pvt Ltd. / Wardha Solar Maharash, (India), Reg. S, 4.63%, 10/15/2039		1,227		1,009
Continuum Energy Levanter Pte Ltd., (Singapore), Reg. S, 4.50%, 02/09/2027		1,952		1,899
Cullinan Holdco Scsp, (Luxembourg), Reg. S, 4.63%, 10/15/2026	EUR	9,435		9,082
Greenko Dutch BV, (Netherlands),
3.85%, 03/29/2026 (e)		744		699
Reg. S, 3.85%, 03/29/2026		11,840		11,121
Greenko Solar Mauritius Ltd., (Mauritius), Reg. S, 5.55%, 01/29/2025		5,850		5,777
Greenko Wind Projects Mauritius Ltd., (Mauritius),
5.50%, 04/06/2025 (e)		7,200		7,038
Reg. S, 5.50%, 04/06/2025		1,300		1,271
India Cleantech Energy, (Mauritius), Reg. S, 4.70%, 08/10/2026		4,263		3,998
India Green Power Holdings, (Mauritius), Reg. S, 4.00%, 02/22/2027		2,427		2,240
				49,063
Oil & Gas — 4.9%
Aethon United BR LP / Aethon United Finance Corp., 8.25%, 02/15/2026 (e)		5,052		5,110
Aker BP ASA, (Norway), 2.00%, 07/15/2026 (e)		480		444
Antero Resources Corp.,
5.38%, 03/01/2030 (e)		2,520		2,420
7.63%, 02/01/2029 (e)		375		385
Apache Corp.,
4.38%, 10/15/2028		752		711
5.35%, 07/01/2049		132		111
Ascent Resources Utica Holdings LLC / ARU Finance Corp.,
5.88%, 06/30/2029 (e)		3,682		3,511
7.00%, 11/01/2026 (e)		1,025		1,028
8.25%, 12/31/2028 (e)		9,430		9,689
9.00%, 11/01/2027 (e)		2,604		3,277
Athabasca Oil Corp., (Canada), 9.75%, 11/01/2026 (e)		2,469		2,605
Baytex Energy Corp., (Canada), 8.50%, 04/30/2030 (e)		1,589		1,657
Borr IHC Ltd. / Borr Finance LLC, (Multinational),
10.00%, 11/15/2028 (e)		1,257		1,305
10.38%, 11/15/2030 (e)		877		912
California Resources Corp., 7.13%, 02/01/2026 (e)		236		237
Callon Petroleum Co.,
6.38%, 07/01/2026		1,716		1,734
7.50%, 06/15/2030 (e)		1,160		1,227
8.00%, 08/01/2028 (e)		657		687
Canadian Natural Resources Ltd., (Canada), 3.85%, 06/01/2027		100		96

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Chesapeake Energy Corp.,
5.50%, 02/01/2026 (e)		603		599
5.88%, 02/01/2029 (e)		835		828
6.75%, 04/15/2029 (e)		1,339		1,354
Chord Energy Corp., 6.38%, 06/01/2026 (e)		156		157
CITGO Petroleum Corp.,
6.38%, 06/15/2026 (d) (e)		425		426
7.00%, 06/15/2025 (d) (e)		3,414		3,411
8.38%, 01/15/2029 (e)		4,286		4,503
Civitas Resources, Inc.,
5.00%, 10/15/2026 (e)		250		245
8.38%, 07/01/2028 (e)		5,568		5,863
8.63%, 11/01/2030 (e)		2,527		2,713
8.75%, 07/01/2031 (e)		5,123		5,482
CNX Resources Corp.,
7.25%, 03/01/2032 (e)		835		849
7.38%, 01/15/2031 (e)		746		760
Comstock Resources, Inc.,
5.88%, 01/15/2030 (e)		5,258		4,763
6.75%, 03/01/2029 (e)		7,632		7,279
Continental Resources, Inc.,
2.27%, 11/15/2026 (e)		1,052		969
3.80%, 06/01/2024		450		448
4.38%, 01/15/2028		775		749
Crescent Energy Finance LLC,
7.63%, 04/01/2032 (e)		5,186		5,227
9.25%, 02/15/2028 (e)		5,840		6,167
CrownRock LP / CrownRock Finance, Inc.,
5.00%, 05/01/2029 (e)		225		222
5.63%, 10/15/2025 (e)		678		677
Devon Energy Corp., 5.25%, 10/15/2027		415		415
Diamond Foreign Asset Co. / Diamond Finance LLC, (Cayman Islands), 8.50%, 10/01/2030 (e)		1,695		1,789
Ecopetrol SA, (Colombia),
4.63%, 11/02/2031		2,500		2,080
5.38%, 06/26/2026		224		220
8.38%, 01/19/2036		3,200		3,227
8.63%, 01/19/2029		82		87
Empresa Nacional del Petroleo, (Chile), Reg. S, 6.15%, 05/10/2033		2,900		2,943
Endeavor Energy Resources LP / EER Finance, Inc., 5.75%, 01/30/2028 (e)		1,765		1,779
EnQuest plc, (United Kingdom), 11.63%, 11/01/2027 (e)		200		200
EQT Corp.,
3.13%, 05/15/2026 (e)		1,258		1,192
3.90%, 10/01/2027		825		785
6.13%, 02/01/2025		208		208
Gulfport Energy Corp., 8.00%, 05/17/2026 (e)		363		369
Harbour Energy plc, (United Kingdom), 5.50%, 10/15/2026 (e)		264		258
Hess Corp., 7.88%, 10/01/2029		750		848
HF Sinclair Corp.,
5.00%, 02/01/2028 (e)		942		915
6.38%, 04/15/2027 (e)		300		302

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Hilcorp Energy I LP / Hilcorp Finance Co.,
5.75%, 02/01/2029 (e)		2,067		2,017
6.00%, 04/15/2030 (e)		740		724
6.00%, 02/01/2031 (e)		3,143		3,057
6.25%, 11/01/2028 (e)		2,276		2,273
6.25%, 04/15/2032 (e)		650		641
8.38%, 11/01/2033 (e)		8,828		9,572
KazMunayGas National Co. JSC, (Kazakhstan),
Reg. S, 4.75%, 04/19/2027		2,900		2,824
Reg. S, 6.38%, 10/24/2048		3,300		3,076
Leviathan Bond Ltd., (Israel), Reg. S, 6.13%, 06/30/2025 (e)		5,300		5,203
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/2026 (e)		693		682
Matador Resources Co.,
5.88%, 09/15/2026		344		344
6.50%, 04/15/2032 (e) (w)		3,393		3,403
6.88%, 04/15/2028 (e)		1,568		1,604
Medco Maple Tree Pte Ltd., (Singapore), 8.96%, 04/27/2029 (e)		6,300		6,546
Medco Oak Tree Pte Ltd., (Singapore), Reg. S, 7.38%, 05/14/2026		7,719		7,728
MEG Energy Corp., (Canada),
5.88%, 02/01/2029 (e)		1,625		1,597
7.13%, 02/01/2027 (e)		521		528
Nabors Industries Ltd., (Bermuda),
7.25%, 01/15/2026 (e)		704		700
7.50%, 01/15/2028 (e)		4,267		4,002
Nabors Industries, Inc.,
7.38%, 05/15/2027 (e)		4,345		4,337
9.13%, 01/31/2030 (e)		4,349		4,522
Neptune Energy Bondco plc, (United Kingdom), 6.63%, 05/15/2025 (e)		1,250		1,250
Noble Finance II LLC, 8.00%, 04/15/2030 (e)		1,770		1,845
Northern Oil & Gas, Inc.,
8.13%, 03/01/2028 (e)		6,188		6,282
8.75%, 06/15/2031 (e)		2,948		3,114
Occidental Petroleum Corp.,
5.88%, 09/01/2025		715		717
6.38%, 09/01/2028		510		530
7.88%, 09/15/2031		500		567
8.50%, 07/15/2027		1,000		1,084
Ovintiv, Inc.,
5.38%, 01/01/2026		555		553
5.65%, 05/15/2028		250		254
Parkland Corp., (Canada),
4.50%, 10/01/2029 (e)		2,800		2,590
4.63%, 05/01/2030 (e)		1,650		1,523
5.88%, 07/15/2027 (e)		600		595
Patterson-UTI Energy, Inc.,
3.95%, 02/01/2028		431		408
7.15%, 10/01/2033		465		500
PBF Holding Co. LLC / PBF Finance Corp., 7.88%, 09/15/2030 (e)		1,065		1,106
PDC Energy, Inc., 5.75%, 05/15/2026		830		829

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Permian Resources Operating LLC,
5.88%, 07/01/2029 (e)		2,402		2,362
6.88%, 04/01/2027 (e)		500		500
7.00%, 01/15/2032 (e)		3,716		3,855
7.75%, 02/15/2026 (e)		678		687
8.00%, 04/15/2027 (e)		2,177		2,242
9.88%, 07/15/2031 (e)		2,314		2,579
Pertamina Persero PT, (Indonesia),
Reg. S, 4.18%, 01/21/2050		1,600		1,264
Reg. S, 6.50%, 11/07/2048		2,700		2,897
Petroleos del Peru SA, (Peru),
Reg. S, 4.75%, 06/19/2032		1,300		1,023
Reg. S, 5.63%, 06/19/2047		1,400		935
Petroleos Mexicanos, (Mexico),
6.35%, 02/12/2048		12,900		8,227
6.38%, 01/23/2045		1,700		1,095
6.49%, 01/23/2027		2,700		2,548
6.63%, 06/15/2035		7,900		5,992
6.70%, 02/16/2032		900		748
Petron Corp., (Philippines), Reg. S, (CMT Index 5 Year + 7.57%), 5.95%, 04/19/2026 (x) (aa)		3,500		3,354
Petronas Capital Ltd., (Malaysia),
4.55%, 04/21/2050 (e)		3,400		3,011
Reg. S, 4.55%, 04/21/2050		200		177
Petrorio Luxembourg Trading Sarl, (Luxembourg), Reg. S, 6.13%, 06/09/2026		3,800		3,743
Precision Drilling Corp., (Canada), 6.88%, 01/15/2029 (e)		2,610		2,605
QatarEnergy, (Qatar),
Reg. S, 1.38%, 09/12/2026		13,900		12,723
Reg. S, 3.13%, 07/12/2041		6,000		4,467
Reg. S, 3.30%, 07/12/2051		3,500		2,466
Range Resources Corp.,
4.75%, 02/15/2030 (e)		150		140
4.88%, 05/15/2025		801		795
8.25%, 01/15/2029		34		35
Repsol International Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 4.41%), 4.25%, 09/11/2028 (x) (aa)	EUR	185		196
Rio Oil Finance Trust Series 2014-3, Reg. S, 9.75%, 01/06/2027		901		936
Rio Oil Finance Trust Series 2018-1, 8.20%, 04/06/2028 (e)		758		771
Rockcliff Energy II LLC, 5.50%, 10/15/2029 (e)		2,071		1,938
Saka Energi Indonesia PT, (Indonesia), Reg. S, 4.45%, 05/05/2024		797		796
Santos Finance Ltd., (Australia), 6.88%, 09/19/2033 (e)		200		212
Saudi Arabian Oil Co., (Saudi Arabia), Reg. S, 1.63%, 11/24/2025		3,300		3,101
Seadrill Finance Ltd., (Bermuda), 8.38%, 08/01/2030 (e)		910		955
Sitio Royalties Operating Partnership LP / Sitio Finance Corp., 7.88%, 11/01/2028 (e)		2,058		2,128
SM Energy Co.,
5.63%, 06/01/2025		415		413
6.50%, 07/15/2028		498		500
Southwestern Energy Co.,
4.75%, 02/01/2032		2,392		2,202
5.38%, 02/01/2029		2,672		2,595
5.38%, 03/15/2030		5,114		4,921

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
8.38%, 09/15/2028		250		259
State Oil Co. of the Azerbaijan Republic, (Azerbaijan), Reg. S, 6.95%, 03/18/2030		4,200		4,304
Strathcona Resources Ltd., (Canada), 6.88%, 08/01/2026 (e)		600		601
Suncor Energy, Inc., (Canada), 7.88%, 06/15/2026		145		152
Sunoco LP / Sunoco Finance Corp.,
4.50%, 05/15/2029		3,000		2,789
4.50%, 04/30/2030		1,275		1,168
5.88%, 03/15/2028		320		317
7.00%, 09/15/2028 (e)		210		214
Talos Production, Inc.,
9.00%, 02/01/2029 (e)		1,082		1,149
9.38%, 02/01/2031 (e)		921		982
Tengizchevroil Finance Co. International Ltd., (Bermuda),
2.63%, 08/15/2025 (e)		200		190
Reg. S, 3.25%, 08/15/2030		1,600		1,293
Transocean Aquila Ltd., (Cayman Islands), 8.00%, 09/30/2028 (e)		581		596
Transocean Titan Financing Ltd., (Cayman Islands), 8.38%, 02/01/2028 (e)		1,225		1,274
Transocean, Inc., (Cayman Islands),
7.25%, 11/01/2025 (e)		150		149
7.50%, 01/15/2026 (e)		3,015		2,996
8.00%, 02/01/2027 (e)		3,339		3,317
8.75%, 02/15/2030 (e)		5,392		5,621
11.50%, 01/30/2027 (e)		4,205		4,382
Valaris Ltd., (Bermuda), 8.38%, 04/30/2030 (e)		6,064		6,263
Var Energi ASA, (Norway), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.77%), 7.86%, 11/15/2083 (aa)	EUR	8,938		10,366
Vermilion Energy, Inc., (Canada), 6.88%, 05/01/2030 (e)		197		193
Vital Energy, Inc.,
7.88%, 04/15/2032 (e)		3,312		3,368
9.75%, 10/15/2030		2,674		2,924
10.13%, 01/15/2028		1,472		1,545
Wintershall Dea Finance 2 BV, (Netherlands),
Series NC5, Reg. S, (EUR Swap Rate 5 Year + 2.92%), 2.50%, 04/20/2026 (x) (aa)	EUR	3,000		2,986
Series NC8, Reg. S, (EUR Swap Rate 5 Year + 3.32%), 3.00%, 07/20/2028 (x) (aa)	EUR	6,200		5,869
				354,982
Oil & Gas Services — 0.4%
Archrock Partners LP / Archrock Partners Finance Corp.,
6.25%, 04/01/2028 (e)		6,916		6,841
6.88%, 04/01/2027 (e)		1,935		1,941
Enerflex Ltd., (Canada), 9.00%, 10/15/2027 (e)		786		806
Guara Norte Sarl, (Luxembourg), Reg. S, 5.20%, 06/15/2034		3,770		3,440
Kodiak Gas Services LLC, 7.25%, 02/15/2029 (e)		4,090		4,167
Oceaneering International, Inc., 6.00%, 02/01/2028		295		291
USA Compression Partners LP / USA Compression Finance Corp.,
6.88%, 04/01/2026		1,508		1,506
6.88%, 09/01/2027		3,244		3,262
7.13%, 03/15/2029 (e)		2,621		2,656
Weatherford International Ltd., (Bermuda), 8.63%, 04/30/2030 (e)		2,754		2,875
Welltec International ApS, (Denmark), 8.25%, 10/15/2026 (e)		200		205
				27,990

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 2.3%
Antero Midstream Partners LP / Antero Midstream Finance Corp.,
5.38%, 06/15/2029 (e)		2,512		2,416
5.75%, 03/01/2027 (e)		2,431		2,400
5.75%, 01/15/2028 (e)		4,646		4,576
6.63%, 02/01/2032 (e)		2,162		2,173
7.88%, 05/15/2026 (e)		450		459
Buckeye Partners LP,
3.95%, 12/01/2026		88		84
5.60%, 10/15/2044		46		37
5.85%, 11/15/2043		1,044		897
Cheniere Corpus Christi Holdings LLC, 5.88%, 03/31/2025		920		920
Cheniere Energy Partners LP, 4.00%, 03/01/2031		1,550		1,408
Cheniere Energy, Inc., 4.63%, 10/15/2028		1,758		1,702
CNX Midstream Partners LP, 4.75%, 04/15/2030 (e)		1,355		1,207
Columbia Pipelines Holding Co. LLC,
6.04%, 08/15/2028 (e)		473		483
6.06%, 08/15/2026 (e)		500		506
CQP Holdco LP / BIP-V Chinook Holdco LLC, 5.50%, 06/15/2031 (e)		7,500		7,085
DCP Midstream Operating LP, 5.38%, 07/15/2025		161		160
DT Midstream, Inc.,
4.13%, 06/15/2029 (e)		2,466		2,267
4.38%, 06/15/2031 (e)		171		155
Enbridge, Inc., (Canada),
5.90%, 11/15/2026		96		98
(CMT Index 5 Year + 4.43%), 8.50%, 01/15/2084 (aa)		891		968
Energy Transfer LP,
5.63%, 05/01/2027 (e)		1,133		1,129
6.00%, 02/01/2029 (e)		932		940
8.00%, 04/01/2029 (e)		450		467
(CMT Index 5 Year + 4.02%), 8.00%, 05/15/2054 (aa)		2,040		2,140
Series B, (ICE LIBOR USD 3 Month + 4.16%), 6.63%, 02/15/2028 (x) (aa)		731		682
Series H, (CMT Index 5 Year + 5.69%), 6.50%, 11/15/2026 (x) (aa)		3,154		3,088
EnLink Midstream LLC,
5.38%, 06/01/2029		260		255
5.63%, 01/15/2028 (e)		3,132		3,101
6.50%, 09/01/2030 (e)		512		526
EnLink Midstream Partners LP, 5.60%, 04/01/2044		1,268		1,130
EQM Midstream Partners LP,
4.50%, 01/15/2029 (e)		11		10
4.75%, 01/15/2031 (e)		1,371		1,275
6.00%, 07/01/2025 (e)		74		74
6.38%, 04/01/2029 (e)		2,189		2,207
7.50%, 06/01/2027 (e)		1,725		1,768
7.50%, 06/01/2030 (e)		2,233		2,388
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/2027 (e)		911		949
Genesis Energy LP / Genesis Energy Finance Corp.,
7.75%, 02/01/2028		927		932
8.25%, 01/15/2029		1,760		1,807
8.88%, 04/15/2030		1,189		1,244

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Global Partners LP / GLP Finance Corp.,
7.00%, 08/01/2027		2,100		2,102
8.25%, 01/15/2032 (e)		655		679
Howard Midstream Energy Partners LLC, 8.88%, 07/15/2028 (e)		1,535		1,619
ITT Holdings LLC, 6.50%, 08/01/2029 (e)		2,449		2,234
Kinder Morgan, Inc., 5.00%, 02/01/2029		315		314
Kinetik Holdings LP,
5.88%, 06/15/2030 (e)		783		766
6.63%, 12/15/2028 (e)		757		771
New Fortress Energy, Inc.,
6.75%, 09/15/2025 (e)		534		530
8.75%, 03/15/2029 (e)		5,069		5,053
NGL Energy Operating LLC / NGL Energy Finance Corp.,
8.13%, 02/15/2029 (e)		3,015		3,088
8.38%, 02/15/2032 (e)		7,427		7,619
Plains All American Pipeline LP / PAA Finance Corp., 3.60%, 11/01/2024		23		23
Prairie Acquiror LP, 9.00%, 08/01/2029 (e)		1,197		1,232
Rockies Express Pipeline LLC,
3.60%, 05/15/2025 (e)		1,000		976
4.95%, 07/15/2029 (e)		183		171
6.88%, 04/15/2040 (e)		725		713
7.50%, 07/15/2038 (e)		2,825		2,895
Sabal Trail Transmission LLC, 4.25%, 05/01/2028 (e)		800		774
Sabine Pass Liquefaction LLC,
5.75%, 05/15/2024		100		100
5.88%, 06/30/2026		250		252
Southern Gas Corridor CJSC, (Azerbaijan), Reg. S, 6.88%, 03/24/2026		7,700		7,777
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp.,
5.50%, 01/15/2028 (e)		4,167		4,016
6.00%, 03/01/2027 (e)		1,111		1,094
6.00%, 12/31/2030 (e)		3		3
6.00%, 09/01/2031 (e)		2,414		2,253
7.38%, 02/15/2029 (e)		3,405		3,423
Targa Resources Partners LP / Targa Resources Partners Finance Corp.,
5.00%, 01/15/2028		978		962
6.50%, 07/15/2027		244		247
6.88%, 01/15/2029		1,326		1,363
TransCanada PipeLines Ltd., (Canada), 6.20%, 03/09/2026		1,232		1,232
Venture Global Calcasieu Pass LLC,
3.88%, 08/15/2029 (e)		4,498		4,048
3.88%, 11/01/2033 (e)		5,088		4,324
4.13%, 08/15/2031 (e)		1,650		1,467
6.25%, 01/15/2030 (e)		450		453
Venture Global LNG, Inc.,
8.13%, 06/01/2028 (e)		3,459		3,533
8.38%, 06/01/2031 (e)		9,534		9,832
9.50%, 02/01/2029 (e)		16,810		18,109
9.88%, 02/01/2032 (e)		14,544		15,676

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Western Midstream Operating LP,
4.65%, 07/01/2026		1,480		1,452
4.75%, 08/15/2028		121		118
5.25%, 02/01/2050		1,311		1,172
5.50%, 08/15/2048		400		354
				170,932
Total Energy				615,272
Financial — 13.9%
Banks — 4.9%
Abanca Corp. Bancaria SA, (Spain), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 5.25%), 8.38%, 09/23/2033 (aa)	EUR	5,100		6,073
ABN AMRO Bank NV, (Netherlands),
4.75%, 07/28/2025 (e)		700		689
(CMT Index 1 Year + 1.65%), 6.34%, 09/18/2027 (e) (aa)		200		204
Reg. S, (EUR Swap Rate 5 Year + 4.24%), 6.88%, 09/22/2031 (x) (aa)	EUR	200		223
AIB Group plc, (Ireland),
(ICE LIBOR USD 3 Month + 1.87%), 4.26%, 04/10/2025 (e) (aa)		683		683
Reg. S, (EUR Swap Rate 5 Year + 5.70%), 5.25%, 10/09/2024 (x) (aa)	EUR	359		384
(United States SOFR + 2.33%), 6.61%, 09/13/2029 (e) (aa)		416		434
Alpha Bank SA, (Greece), Reg. S, (EUR Swap Rate 1 Year + 2.43%), 5.00%, 05/12/2030 (aa)	EUR	300		325
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		110
Reg. S, (EUR Swap Rate 5 Year + 8.92%), 8.50%, 09/10/2030 (aa)	EUR	4,510		4,996
Banco Bilbao Vizcaya Argentaria SA, (Spain),
5.38%, 03/13/2029		200		202
Reg. S, (EUR Swap Rate 5 Year + 6.04%), 6.00%, 03/29/2024 (x) (aa)	EUR	400		431
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 5.54%), 8.38%, 06/21/2028 (x) (aa)	EUR	1,800		2,104
Banco BPM SpA, (Italy),
Reg. S, (EUR Swap Rate 5 Year + 3.40%), 3.38%, 01/19/2032 (aa)	EUR	214		222
Reg. S, (ICE LIBOR EUR 3 Month + 2.35%), 4.88%, 01/17/2030 (aa)	EUR	750		832
Reg. S, (ICE LIBOR EUR 3 Month + 2.80%), 6.00%, 06/14/2028 (aa)	EUR	200		227
Banco Davivienda SA, (Colombia), Reg. S, (CMT Index 10 Year + 5.10%), 6.65%, 04/22/2031 (x) (aa)		2,000		1,399
Banco de Credito Social Cooperativo SA, (Spain), Reg. S, (ICE EURIBOR Swap Rate 1 Year + 4.27%), 7.50%, 09/14/2029 (aa)	EUR	500		595
Banco de Sabadell SA, (Spain),
Reg. S, (EUR Swap Rate 5 Year + 2.95%), 2.50%, 04/15/2031 (aa)	EUR	200		205
Reg. S, (EUR Swap Rate 5 Year + 6.20%), 5.75%, 03/15/2026 (x) (aa)	EUR	200		208
Reg. S, (EUR Swap Rate 5 Year + 3.15%), 6.00%, 08/16/2033 (aa)	EUR	9,200		10,227
Reg. S, (EUR Swap Rate 5 Year + 6.83%), 9.38%, 07/18/2028 (x) (aa)	EUR	7,800		9,117
Banco Mercantil del Norte SA, (Mexico), Reg. S, (CMT Index 10 Year + 5.47%), 7.50%, 06/27/2029 (x) (aa)		1,600		1,600
Banco Santander SA, (Spain), 6.92%, 08/08/2033		1,000		1,047
Bangkok Bank PCL, (Thailand),
Reg. S, (CMT Index 5 Year + 1.90%), 3.73%, 09/25/2034 (aa)		3,550		3,162
Reg. S, (CMT Index 5 Year + 4.73%), 5.00%, 09/23/2025 (x) (aa)		3,400		3,310
Bank Negara Indonesia Persero Tbk. PT, (Indonesia),
Reg. S, 3.75%, 03/30/2026		7,650		7,298
Reg. S, (CMT Index 5 Year + 4.47%), 4.30%, 03/24/2027 (x) (aa)		2,400		2,209

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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.,
(United States SOFR + 0.96%), 1.73%, 07/22/2027 (aa)		98		91
(CME Term SOFR 3 Month + 1.13%), 2.46%, 10/22/2025 (aa)		709		696
(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		657
(CME Term SOFR 3 Month + 1.63%), 3.59%, 07/21/2028 (aa)		1,460		1,388
(United States SOFR + 1.11%), 3.84%, 04/25/2025 (aa)		1,045		1,044
(United States SOFR + 2.04%), 4.95%, 07/22/2028 (aa)		230		228
Series L, 3.95%, 04/21/2025		552		543
Bank of Cyprus Holdings plc, (Ireland), Reg. S, (EUR Swap Rate 5 Year + 6.90%), 6.63%, 10/23/2031 (aa)	EUR	5,269		5,730
Bank of East Asia Ltd. (The), (Hong Kong),
Reg. S, (CMT Index 5 Year + 3.75%), 4.00%, 05/29/2030 (aa)		2,800		2,710
Reg. S, (CMT Index 5 Year + 5.53%), 5.83%, 10/21/2025 (x) (aa)		1,200		1,161
Reg. S, (CMT Index 5 Year + 4.26%), 5.88%, 09/19/2024 (x) (aa)		3,800		3,726
Bank of Ireland Group plc, (Ireland),
(CMT Index 1 Year + 1.10%), 2.03%, 09/30/2027 (e) (aa)		400		366
(United States SOFR + 1.62%), 5.60%, 03/20/2030 (e) (aa)		534		533
(CMT Index 1 Year + 2.65%), 6.25%, 09/16/2026 (e) (aa)		400		402
Reg. S, (EUR Swap Rate 5 Year + 7.92%), 7.50%, 05/19/2025 (x) (aa)	EUR	400		438
Bank of Montreal, (Canada), 5.27%, 12/11/2026		259		260
Bank of New York Mellon Corp. (The), (United States SOFR + 1.17%), 4.54%, 02/01/2029 (aa)		32		32
Bank of Nova Scotia (The), (Canada), 5.45%, 06/12/2025		60		60
Bankinter SA, (Spain), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.71%), 7.38%, 08/15/2028 (x) (aa)	EUR	400		443
BankUnited, Inc., 4.88%, 11/17/2025		544		531
Barclays plc, (United Kingdom),
(United States SOFR + 2.71%), 2.85%, 05/07/2026 (aa)		376		365
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 05/07/2025 (aa)		1,000		998
(CMT Index 5 Year + 3.41%), 4.38%, 03/15/2028 (x) (aa)		465		381
(United States SOFR + 2.21%), 5.83%, 05/09/2027 (aa)		252		253
(United States SOFR + 1.88%), 6.50%, 09/13/2027 (aa)		662		676
(CMT Index 1 Year + 3.05%), 7.33%, 11/02/2026 (aa)		356		365
(CMT Index 5 Year + 5.67%), 8.00%, 06/15/2024 (x) (aa)		200		199
(CMT Index 5 Year + 5.43%), 8.00%, 03/15/2029 (x) (aa)		794		792
(GBP Swap Rate 5 Year + 5.64%), 9.25%, 09/15/2028 (x) (aa)	GBP	8,650		11,255
(USD SOFR ICE Swap Rate 5 Year + 5.78%), 9.63%, 12/15/2029 (x) (aa)		6,423		6,810
BBVA Bancomer SA, (Mexico), (CMT Index 5 Year + 4.21%), 8.13%, 01/08/2039 (e) (aa)		3,100		3,213
BNP Paribas SA, (France),
(United States SOFR + 1.00%), 1.32%, 01/13/2027 (e) (aa)		1,250		1,162
(United States SOFR + 1.61%), 1.90%, 09/30/2028 (e) (aa)		600		534
(United States SOFR + 2.07%), 2.22%, 06/09/2026 (e) (aa)		711		684
(United States SOFR + 1.23%), 2.59%, 01/20/2028 (e) (aa)		1,838		1,703
(CME Term SOFR 3 Month + 1.37%), 2.82%, 11/19/2025 (e) (aa)		200		196
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.63%), 7.38%, 06/11/2030 (x) (aa)	EUR	400		461
(CMT Index 5 Year + 4.35%), 8.50%, 08/14/2028 (e) (x) (aa)		1,875		1,960
BOI Finance BV, (Netherlands), Reg. S, 7.50%, 02/16/2027	EUR	1,100		1,115

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
BPCE SA, (France),
4.50%, 03/15/2025 (e)		500		493
4.88%, 04/01/2026 (e)		200		196
5.15%, 07/21/2024 (e)		235		234
5.20%, 01/18/2027 (e)		750		752
CaixaBank SA, (Spain),
Reg. S, (EUR Swap Rate 5 Year + 4.50%), 5.25%, 03/23/2026 (x) (aa)	EUR	5,400		5,570
(United States SOFR + 1.78%), 5.67%, 03/15/2030 (e) (aa)		203		203
Reg. S, (EUR Swap Rate 5 Year + 6.35%), 5.88%, 10/09/2027 (x) (aa)	EUR	200		212
Canadian Imperial Bank of Commerce, (Canada), 5.00%, 04/28/2028		136		136
Citigroup, Inc.,
(United States SOFR + 2.84%), 3.11%, 04/08/2026 (aa)		382		372
(CME Term SOFR 3 Month + 1.16%), 3.35%, 04/24/2025 (aa)		935		934
(CME Term SOFR 3 Month + 1.82%), 3.89%, 01/10/2028 (aa)		1,148		1,107
(United States SOFR + 1.37%), 4.14%, 05/24/2025 (aa)		402		401
(United States SOFR + 1.36%), 5.17%, 02/13/2030 (aa)		569		567
(United States SOFR + 2.66%), 6.17%, 05/25/2034 (aa)		305		309
Series AA, (CMT Index 5 Year + 3.21%), 7.63%, 11/15/2028 (x) (aa)		1,455		1,528
Series X, (CMT Index 5 Year + 3.42%), 3.88%, 02/18/2026 (x) (aa)		3,450		3,260
Series Y, (CMT Index 5 Year + 3.00%), 4.15%, 11/15/2026 (x) (aa)		15		14
Citizens Bank NA,
(United States SOFR + 1.40%), 4.12%, 05/23/2025 (aa)		750		747
(United States SOFR + 1.45%), 6.06%, 10/24/2025 (aa)		926		923
Commerzbank AG, (Germany),
Reg. S, (EUR Swap Rate 5 Year + 1.73%), 1.38%, 12/29/2031 (aa)	EUR	5,000		4,912
Reg. S, (EUR Swap Rate 5 Year + 4.35%), 4.00%, 12/05/2030 (aa)	EUR	10,500		11,184
Reg. S, (EUR Swap Rate 5 Year + 6.36%), 6.13%, 10/09/2025 (x) (aa)	EUR	400		426
Reg. S, (EUR Swap Rate 5 Year + 6.74%), 6.50%, 10/09/2029 (x) (aa)	EUR	5,000		5,232
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.30%), 6.50%, 12/06/2032 (aa)	EUR	100		114
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 3.70%), 6.75%, 10/05/2033 (aa)	EUR	200		232
Reg. S, (UK Gilts 5 Year + 5.25%), 8.63%, 02/28/2033 (aa)	GBP	400		537
Cooperatieve Rabobank UA, (Netherlands),
Reg. S, (EUR Swap Rate 5 Year + 4.68%), 4.38%, 06/29/2027 (x) (aa)	EUR	200		206
Reg. S, (EUR Swap Rate 5 Year + 3.72%), 4.88%, 06/29/2029 (x) (aa)	EUR	11,000		11,170
Credit Agricole SA, (France),
4.38%, 03/17/2025 (e)		450		443
(CMT Index 5 Year + 3.24%), 4.75%, 03/23/2029 (e) (x) (aa)		261		229
Credit Suisse AG, (Switzerland), 3.63%, 09/09/2024		605		599
Dah Sing Bank Ltd., (Hong Kong), Reg. S, (CMT Index 5 Year + 2.95%), 7.38%, 11/15/2033 (c) (aa)		3,800		3,975
Danske Bank A/S, (Denmark),
(ICE LIBOR USD 3 Month + 1.59%), 3.24%, 12/20/2025 (e) (aa)		1,193		1,169
(CMT Index 1 Year + 1.75%), 4.30%, 04/01/2028 (e) (aa)		900		869
(CMT Index 1 Year + 2.10%), 6.47%, 01/09/2026 (e) (aa)		815		818
Deutsche Bank AG, (Germany),
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 5.69%), 6.75%, 10/30/2028 (x) (aa)	EUR	8,000		8,215
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 6.94%), 10.00%, 12/01/2027 (x) (aa)	EUR	200		234
Discover Bank, 4.25%, 03/13/2026		250		243
Erste Group Bank AG, (Austria),
Reg. S, (EUR Swap Rate 5 Year + 4.65%), 4.25%, 10/15/2027 (x) (aa)	EUR	2,400		2,331
Reg. S, (EUR Swap Rate 5 Year + 5.46%), 8.50%, 10/15/2028 (x) (aa)	EUR	2,600		3,022

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Federation des Caisses Desjardins du Quebec, (Canada),
5.25%, 04/26/2029 (e)		371		370
5.70%, 03/14/2028 (e)		200		203
First-Citizens Bank & Trust Co., (CME Term SOFR 3 Month + 1.72%), 2.97%, 09/27/2025 (aa)		250		245
Freedom Mortgage Corp.,
7.63%, 05/01/2026 (e)		3,383		3,377
12.00%, 10/01/2028 (e)		907		989
12.25%, 10/01/2030 (e)		1,033		1,136
Goldman Sachs Group, Inc. (The),
(United States SOFR + 0.91%), 1.95%, 10/21/2027 (aa)		200		184
(United States SOFR + 1.11%), 2.64%, 02/24/2028 (aa)		554		516
(CME Term SOFR 3 Month + 1.56%), 4.22%, 05/01/2029 (aa)		714		687
(United States SOFR + 1.08%), 5.80%, 08/10/2026 (aa)		69		69
Series R, (CMT Index 5 Year + 3.22%), 4.95%, 02/10/2025 (x) (aa)		441		434
HDFC Bank Ltd., (India), Reg. S, (CMT Index 5 Year + 2.93%), 3.70%, 08/25/2026 (x) (aa)		3,700		3,405
HSBC Holdings plc, (United Kingdom),
(United States SOFR + 1.43%), 3.00%, 03/10/2026 (aa)		3,053		2,975
(CME Term SOFR 3 Month + 1.61%), 4.29%, 09/12/2026 (aa)		200		196
(CMT Index 5 Year + 3.65%), 4.60%, 12/17/2030 (x) (aa)		200		169
Reg. S, (EUR Swap Rate 5 Year + 3.84%), 4.75%, 07/04/2029 (x) (aa)	EUR	200		202
(United States SOFR + 1.57%), 5.89%, 08/14/2027 (aa)		212		214
(United States SOFR + 3.02%), 7.40%, 11/13/2034 (aa)		2,620		2,868
Huntington Bancshares, Inc., (United States SOFR + 1.97%), 4.44%, 08/04/2028 (aa)		83		80
ING Groep NV, (Netherlands),
(CMT Index 5 Year + 2.86%), 3.88%, 05/16/2027 (x) (aa)		200		167
(CMT Index 5 Year + 4.34%), 5.75%, 11/16/2026 (x) (aa)		200		191
(United States SOFR + 1.56%), 6.08%, 09/11/2027 (aa)		332		336
Intesa Sanpaolo SpA, (Italy),
Reg. S, 2.93%, 10/14/2030	EUR	7,750		7,668
(CMT Index 1 Year + 2.60%), 4.20%, 06/01/2032 (e) (aa)		3,020		2,531
(CMT Index 1 Year + 2.75%), 4.95%, 06/01/2042 (e) (aa)		450		336
5.02%, 06/26/2024 (e)		2,175		2,168
Reg. S, 5.15%, 06/10/2030	GBP	247		291
Reg. S, (EUR Swap Rate 5 Year + 5.85%), 5.50%, 03/01/2028 (x) (aa)	EUR	250		258
5.71%, 01/15/2026 (e)		500		496
Reg. S, (EUR Swap Rate 5 Year + 6.09%), 5.88%, 09/01/2031 (x) (aa)	EUR	11,110		11,286
Kasikornbank PCL, (Thailand), Reg. S, (CMT Index 5 Year + 4.94%), 5.28%, 10/14/2025 (x) (aa)		10,400		10,143
KeyBank NA, (SOFR Compounded Index + 0.32%), 5.68%, 06/14/2024 (aa)		250		250
Lloyds Banking Group plc, (United Kingdom),
4.58%, 12/10/2025		200		196
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 5.29%), 4.95%, 06/27/2025 (x) (aa)	EUR	200		212
(CMT Index 1 Year + 1.38%), 5.46%, 01/05/2028 (aa)		200		200
(CMT Index 1 Year + 1.48%), 5.99%, 08/07/2027 (aa)		200		202
(CMT Index 5 Year + 3.91%), 8.00%, 09/27/2029 (x) (aa)		3,225		3,246
(UK Gilts 5 Year + 5.14%), 8.50%, 03/27/2028 (x) (aa)	GBP	3,920		5,040
Macquarie Bank Ltd., (Australia), 4.88%, 06/10/2025 (e)		698		690

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Macquarie Group Ltd., (Australia),
(United States SOFR + 1.07%), 1.34%, 01/12/2027 (e) (aa)		105		97
(ICE LIBOR USD 3 Month + 1.37%), 3.76%, 11/28/2028 (e) (aa)		722		678
Manufacturers & Traders Trust Co., 4.65%, 01/27/2026		610		597
Mitsubishi UFJ Financial Group, Inc., (Japan),
(CMT Index 1 Year + 0.45%), 0.96%, 10/11/2025 (aa)		200		195
(CMT Index 1 Year + 1.70%), 4.79%, 07/18/2025 (aa)		295		294
(CMT Index 1 Year + 1.55%), 5.06%, 09/12/2025 (aa)		400		399
Morgan Stanley,
(United States SOFR + 1.99%), 2.19%, 04/28/2026 (aa)		323		312
(United States SOFR + 1.15%), 2.72%, 07/22/2025 (aa)		840		831
(United States SOFR + 1.16%), 3.62%, 04/17/2025 (aa)		390		390
(United States SOFR + 1.67%), 4.68%, 07/17/2026 (aa)		37		37
(United States SOFR + 1.73%), 5.12%, 02/01/2029 (aa)		678		677
(United States SOFR + 1.63%), 5.45%, 07/20/2029 (aa)		137		138
(United States SOFR + 1.77%), 6.14%, 10/16/2026 (aa)		37		37
Nanyang Commercial Bank Ltd., (Hong Kong), Reg. S, (CMT Index 5 Year + 2.18%), 3.80%, 11/20/2029 (aa)		300		296
National Bank of Greece SA, (Greece), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 4.65%), 8.00%, 01/03/2034 (aa)	EUR	4,536		5,329
NatWest Group plc, (United Kingdom),
(CMT Index 1 Year + 1.10%), 5.58%, 03/01/2028 (aa)		320		322
(CMT Index 1 Year + 1.95%), 5.81%, 09/13/2029 (aa)		413		420
(CMT Index 1 Year + 2.85%), 7.47%, 11/10/2026 (aa)		1,324		1,360
Piraeus Bank SA, (Greece), Reg. S, (EUR Swap Rate 1 Year + 3.84%), 6.75%, 12/05/2029 (aa)	EUR	5,952		6,886
PNC Financial Services Group, Inc. (The),
(United States SOFR + 1.34%), 5.30%, 01/21/2028 (aa)		1,000		1,001
Series V, (CMT Index 5 Year + 3.24%), 6.20%, 09/15/2027 (x) (aa)		1,757		1,752
Series W, (CMT Index 7 Year + 2.81%), 6.25%, 03/15/2030 (x) (aa)		1,234		1,195
Santander Holdings USA, Inc., (United States SOFR + 2.33%), 5.81%, 09/09/2026 (aa)		57		57
Santander UK Group Holdings plc, (United Kingdom),
4.75%, 09/15/2025 (e)		200		196
Reg. S, (GBP Swap Rate 5 Year + 6.07%), 6.75%, 06/24/2024 (x) (aa)	GBP	200		252
Societe Generale SA, (France),
Reg. S, (EUR Swap Rate 5 Year + 5.23%), 7.88%, 01/18/2029 (x) (aa)	EUR	300		339
(CMT Index 5 Year + 5.45%), 10.00%, 11/14/2028 (e) (x) (aa)		994		1,054
Standard Chartered plc, (United Kingdom),
(ICE LIBOR USD 3 Month + 1.21%), 2.82%, 01/30/2026 (e) (aa)		857		835
Reg. S, (CMT Index 5 Year + 3.14%), 4.30%, 08/19/2028 (x) (aa)		1,000		823
Reg. S, (CMT Index 5 Year + 3.81%), 4.75%, 01/14/2031 (x) (aa)		2,100		1,749
Reg. S, (CMT Index 5 Year + 5.66%), 6.00%, 07/26/2025 (x) (aa)		1,200		1,183
(CMT Index 1 Year + 2.10%), 6.10%, 01/11/2035 (e) (aa)		1,800		1,855
(CMT Index 1 Year + 1.85%), 6.75%, 02/08/2028 (e) (aa)		600		619
Reg. S, (CMT Index 5 Year + 4.98%), 7.75%, 08/15/2027 (x) (aa)		21,800		22,076
(CMT Index 5 Year + 3.57%), 7.88%, 03/08/2030 (e) (x) (aa)		800		795
State Street Corp.,
(United States SOFR + 1.13%), 5.10%, 05/18/2026 (aa)		10		10
Series I, (CMT Index 5 Year + 2.61%), 6.70%, 03/15/2029 (x) (aa)		1,671		1,695
Swedbank AB, (Sweden), 6.14%, 09/12/2026 (e)		400		405

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Toronto-Dominion Bank (The), (Canada),
4.69%, 09/15/2027		105		104
5.26%, 12/11/2026		289		291
5.53%, 07/17/2026		69		70
Truist Financial Corp.,
(United States SOFR + 1.44%), 4.87%, 01/26/2029 (aa)		73		72
(United States SOFR + 0.40%), 5.76%, 06/09/2025 (aa)		344		343
UBS AG, (Switzerland), Reg. S, 5.13%, 05/15/2024		750		748
UBS Group AG, (Switzerland),
(SOFR Compounded Index + 0.98%), 1.31%, 02/02/2027 (e) (aa)		250		231
(CMT Index 1 Year + 0.85%), 1.49%, 08/10/2027 (e) (aa)		1,525		1,387
(United States SOFR + 1.56%), 2.59%, 09/11/2025 (e) (aa)		500		493
(ICE LIBOR USD 3 Month + 1.41%), 3.87%, 01/12/2029 (e) (aa)		1,150		1,088
(CMT Index 5 Year + 3.31%), 4.38%, 02/10/2031 (e) (x) (aa)		1,281		1,053
(CMT Index 1 Year + 1.55%), 4.49%, 05/12/2026 (e) (aa)		504		497
(CMT Index 1 Year + 1.52%), 5.43%, 02/08/2030 (e) (aa)		200		200
Reg. S, (USD Semi-annual Swap Rate 5 Year + 4.59%), 6.88%, 08/07/2025 (x) (aa)		200		198
Reg. S, (USD Semi-annual Swap Rate 5 Year + 4.87%), 7.00%, 02/19/2025 (x) (aa)		200		200
(USD SOFR ICE Swap Rate 5 Year + 4.16%), 7.75%, 04/12/2031 (e) (x) (aa)		2,722		2,800
(CMT Index 5 Year + 4.75%), 9.25%, 11/13/2028 (e) (x) (aa)		2,217		2,402
(CMT Index 5 Year + 4.76%), 9.25%, 11/13/2033 (e) (x) (aa)		3,351		3,782
UniCredit SpA, (Italy),
(CMT Index 1 Year + 2.30%), 2.57%, 09/22/2026 (e) (aa)		878		836
Reg. S, (EUR Swap Rate 5 Year + 2.80%), 2.73%, 01/15/2032 (aa)	EUR	18,420		18,854
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.80%), 5.38%, 04/16/2034 (aa)	EUR	4,000		4,428
US Bancorp,
(United States SOFR + 2.02%), 5.78%, 06/12/2029 (aa)		676		689
(United States SOFR + 1.88%), 6.79%, 10/26/2027 (aa)		222		230
Wells Fargo & Co.,
(CME Term SOFR 3 Month + 1.01%), 2.16%, 02/11/2026 (aa)		1,109		1,076
(United States SOFR + 2.00%), 2.19%, 04/30/2026 (aa)		111		107
(CME Term SOFR 3 Month + 1.09%), 2.41%, 10/30/2025 (aa)		811		796
(United States SOFR + 1.56%), 4.54%, 08/15/2026 (aa)		223		220
(United States SOFR + 1.98%), 4.81%, 07/25/2028 (aa)		231		228
(United States SOFR + 1.50%), 5.20%, 01/23/2030 (aa)		347		346
(United States SOFR + 1.74%), 5.57%, 07/25/2029 (aa)		252		255
(United States SOFR + 1.79%), 6.30%, 10/23/2029 (aa)		122		127
(CMT Index 5 Year + 3.61%), 7.63%, 09/15/2028 (x) (aa)		1,974		2,108
				354,484
Diversified Financial Services — 2.4%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, (Ireland),
3.50%, 01/15/2025		173		170
4.45%, 10/01/2025		447		440
Series 3NC1, 1.75%, 10/29/2024		1,100		1,074
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/2027 (e)		534		553
Aircastle Ltd., (Bermuda),
5.25%, 08/11/2025 (e)		607		602
5.95%, 02/15/2029 (e)		187		187
Ally Financial, Inc., 5.75%, 11/20/2025		329		327

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
American Express Co.,
3.95%, 08/01/2025		138		136
(United States SOFR + 1.00%), 4.99%, 05/01/2026 (aa)		176		175
(United States SOFR + 1.00%), 5.10%, 02/16/2028 (aa)		187		187
(SOFR Compounded Index + 1.28%), 5.28%, 07/27/2029 (aa)		291		293
(United States SOFR + 0.97%), 5.39%, 07/28/2027 (aa)		53		53
(United States SOFR + 1.33%), 6.34%, 10/30/2026 (aa)		418		423
Ameriprise Financial, Inc., 5.70%, 12/15/2028		130		134
Aretec Group, Inc., 10.00%, 08/15/2030 (e)		440		481
Aviation Capital Group LLC,
1.95%, 01/30/2026 (e)		175		163
1.95%, 09/20/2026 (e)		875		800
5.50%, 12/15/2024 (e)		300		299
Avolon Holdings Funding Ltd., (Cayman Islands),
3.25%, 02/15/2027 (e)		91		84
3.95%, 07/01/2024 (e)		361		359
4.25%, 04/15/2026 (e)		2,020		1,950
5.50%, 01/15/2026 (e)		500		495
5.75%, 03/01/2029 (e)		152		151
Bread Financial Holdings, Inc., 9.75%, 03/15/2029 (e)		2,775		2,887
Cantor Fitzgerald LP, 7.20%, 12/12/2028 (e)		3,800		3,934
Capital One Financial Corp., (United States SOFR + 1.37%), 4.17%, 05/09/2025 (aa)		260		259
Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin, 3.88%, 02/15/2026 (e)		250		234
Enact Holdings, Inc., 6.50%, 08/15/2025 (e)		1,187		1,187
Encore Capital Group, Inc.,
Reg. S, 5.38%, 02/15/2026	GBP	3,775		4,645
9.25%, 04/01/2029 (e)		415		425
Freedom Mortgage Holdings LLC, 9.25%, 02/01/2029 (e)		602		616
Garfunkelux Holdco 3 SA, (Luxembourg), Reg. S, 6.75%, 11/01/2025	EUR	200		152
GGAM Finance Ltd., (Cayman Islands),
6.88%, 04/15/2029 (e) (w)		1,674		1,690
7.75%, 05/15/2026 (e)		202		206
8.00%, 02/15/2027 (e)		3,412		3,523
8.00%, 06/15/2028 (e)		2,536		2,648
Global Aircraft Leasing Co. Ltd., (Cayman Islands), 6.50% (cash), 09/15/2024 (e) (v)		168		159
goeasy Ltd., (Canada),
7.63%, 07/01/2029 (e)		50		50
9.25%, 12/01/2028 (e)		1,620		1,727
Indiabulls Housing Finance Ltd., (India), 9.70%, 07/03/2027 (e) (w)		3,400		3,396
Intrum AB, (Sweden),
Reg. S, 3.50%, 07/15/2026	EUR	150		104
Reg. S, 9.25%, 03/15/2028	EUR	1,400		968
Jefferies Finance LLC / JFIN Co-Issuer Corp., 5.00%, 08/15/2028 (e)		3,449		3,173
Jerrold Finco plc, (United Kingdom),
Reg. S, 4.88%, 01/15/2026	GBP	7,230		9,080
Reg. S, 5.25%, 01/15/2027	GBP	5,851		7,035
7.88%, 04/15/2030 (e) (w)	GBP	10,757		13,577

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Julius Baer Group Ltd., (Switzerland), Reg. S, (EUR Swap Rate 5 Year + 3.85%), 6.63%, 08/15/2029 (x) (aa)	EUR	200		208
Kuwait Projects Co. SPC Ltd., (United Arab Emirates), Reg. S, 4.50%, 02/23/2027		1,600		1,412
LD Holdings Group LLC, 6.13%, 04/01/2028 (e)		1,928		1,598
LFS Topco LLC, 5.88%, 10/15/2026 (e)		2,025		1,878
LPL Holdings, Inc.,
4.00%, 03/15/2029 (e)		848		780
4.63%, 11/15/2027 (e)		715		686
Macquarie Airfinance Holdings Ltd., (United Kingdom),
6.40%, 03/26/2029 (e)		812		825
6.50%, 03/26/2031 (e)		1,765		1,797
8.13%, 03/30/2029 (e)		4,246		4,490
8.38%, 05/01/2028 (e)		443		469
Nationstar Mortgage Holdings, Inc.,
5.00%, 02/01/2026 (e)		7,166		7,013
5.13%, 12/15/2030 (e)		3,912		3,550
5.50%, 08/15/2028 (e)		1,951		1,868
5.75%, 11/15/2031 (e)		5,519		5,091
6.00%, 01/15/2027 (e)		1,339		1,320
7.13%, 02/01/2032 (e)		5,748		5,705
Navient Corp.,
4.88%, 03/15/2028		1,350		1,258
5.50%, 03/15/2029		4,163		3,876
5.88%, 10/25/2024		190		190
6.75%, 06/25/2025		674		679
9.38%, 07/25/2030		3,467		3,710
NFP Corp.,
4.88%, 08/15/2028 (e)		3,176		3,184
6.88%, 08/15/2028 (e)		7,447		7,540
7.50%, 10/01/2030 (e)		1,134		1,194
8.50%, 10/01/2031 (e)		987		1,086
Nuveen Finance LLC, 4.13%, 11/01/2024 (e)		270		268
OneMain Finance Corp.,
3.50%, 01/15/2027		891		827
3.88%, 09/15/2028		1,100		981
4.00%, 09/15/2030		3,922		3,358
5.38%, 11/15/2029		301		283
6.63%, 01/15/2028		255		256
6.88%, 03/15/2025		2,950		2,979
7.13%, 03/15/2026		2,371		2,415
7.88%, 03/15/2030		5,672		5,850
9.00%, 01/15/2029		3,624		3,845
PennyMac Financial Services, Inc.,
4.25%, 02/15/2029 (e)		2,080		1,898
5.38%, 10/15/2025 (e)		2,950		2,916
7.88%, 12/15/2029 (e)		2,098		2,156
Pingan Real Estate Capital Ltd., (Hong Kong), Reg. S, 3.45%, 07/29/2026		2,200		1,816
Radian Group, Inc., 6.20%, 05/15/2029		300		305
REC Ltd., (India), Reg. S, 3.50%, 12/12/2024		2,000		1,963

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc.,
2.88%, 10/15/2026 (e)		6,265		5,790
3.63%, 03/01/2029 (e)		1,195		1,075
3.88%, 03/01/2031 (e)		3,894		3,392
4.00%, 10/15/2033 (e)		1,112		942
SLM Corp., 3.13%, 11/02/2026		61		57
Synchrony Financial, 4.50%, 07/23/2025		300		294
				176,284
Insurance — 2.8%
Acrisure LLC / Acrisure Finance, Inc., 8.25%, 02/01/2029 (e)		3,685		3,703
AIA Group Ltd., (Hong Kong), Reg. S, 3.20%, 09/16/2040		1,100		822
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer,
4.25%, 10/15/2027 (e)		5,912		5,566
5.88%, 11/01/2029 (e)		9,193		8,548
6.75%, 10/15/2027 (e)		9,323		9,185
6.75%, 04/15/2028 (e)		239		241
7.00%, 01/15/2031 (e)		8,513		8,601
AmWINS Group, Inc.,
4.88%, 06/30/2029 (e)		2,562		2,392
6.38%, 02/15/2029 (e)		1,417		1,425
Aon Corp., 8.21%, 01/01/2027		269		290
Aon North America, Inc.,
5.13%, 03/01/2027		168		169
5.15%, 03/01/2029		470		472
Ardonagh Finco Ltd., (Jersey),
Reg. S, 6.88%, 02/15/2031	EUR	200		213
6.88%, 02/15/2031 (e)	EUR	15,783		16,772
7.75%, 02/15/2031 (e)		4,080		4,061
Ardonagh Group Finance Ltd., (Jersey), 8.88%, 02/15/2032 (e)		3,468		3,424
AssuredPartners, Inc.,
5.63%, 01/15/2029 (e)		775		714
7.50%, 02/15/2032 (e)		2,385		2,343
Athene Global Funding, 5.58%, 01/09/2029 (e)		205		206
AXA SA, (France), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 3.84%), 6.38%, 07/16/2033 (x) (aa)	EUR	300		336
Brighthouse Financial Global Funding, 1.55%, 05/24/2026 (e)		328		300
BroadStreet Partners, Inc., 5.88%, 04/15/2029 (e)		2,236		2,069
CNO Financial Group, Inc., 5.25%, 05/30/2025		250		249
CNO Global Funding, 1.75%, 10/07/2026 (e)		406		370
Corebridge Global Funding,
5.20%, 01/12/2029 (e)		450		451
5.75%, 07/02/2026 (e)		66		66
Equitable Financial Life Global Funding,
1.40%, 07/07/2025 (e)		183		173
5.45%, 03/03/2028 (e)		182		182
F&G Annuities & Life, Inc., 7.40%, 01/13/2028		322		335

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
F&G Global Funding,
0.90%, 09/20/2024 (e)		400		390
1.75%, 06/30/2026 (e)		220		200
2.00%, 09/20/2028 (e)		1,156		984
2.30%, 04/11/2027 (e)		902		810
5.15%, 07/07/2025 (e)		666		656
FWD Group Holdings Ltd., (Cayman Islands),
Reg. S, (CMT Index 5 Year + 4.88%), 6.38%, 09/13/2024 (x) (aa)		1,500		1,462
Reg. S, 7.78%, 12/06/2033		2,000		2,191
Reg. S, (CMT Index 5 Year + 4.87%), 8.05%, 06/15/2024 (x) (aa)		7,600		7,487
GA Global Funding Trust,
0.80%, 09/13/2024 (e)		674		660
1.95%, 09/15/2028 (e)		1,034		884
3.85%, 04/11/2025 (e)		483		474
5.50%, 01/08/2029 (e)		275		276
(United States SOFR + 0.50%), 5.86%, 09/13/2024 (e) (aa)		1,050		1,050
Galaxy Bidco Ltd., (Jersey), Reg. S, 6.50%, 07/31/2026	GBP	7,247		9,006
Global Atlantic Fin Co., 4.40%, 10/15/2029 (e)		376		350
Howden UK Refinance plc / Howden UK Refinance 2 plc / Howden US Refinance LLC, (United Kingdom),
7.25%, 02/15/2031 (e)		11,284		11,327
8.13%, 02/15/2032 (e)		5,924		5,974
HUB International Ltd.,
7.25%, 06/15/2030 (e)		19,446		19,991
7.38%, 01/31/2032 (e)		22,886		23,040
Intesa Sanpaolo Vita SpA, (Italy), Reg. S, 2.38%, 12/22/2030	EUR	250		229
Jackson National Life Global Funding,
3.05%, 04/29/2026 (e)		500		472
5.50%, 01/09/2026 (e)		500		498
Jones Deslauriers Insurance Management, Inc., (Canada),
8.50%, 03/15/2030 (e)		3,446		3,592
10.50%, 12/15/2030 (e)		1,119		1,181
MGIC Investment Corp., 5.25%, 08/15/2028		550		535
Muang Thai Life Assurance PCL, (Thailand), Reg. S, (CMT Index 10 Year + 2.40%), 3.55%, 01/27/2037 (aa)		2,400		2,232
Mutual of Omaha Cos. Global Funding,
5.45%, 12/12/2028 (e)		785		800
5.80%, 07/27/2026 (e)		65		66
Panther Escrow Issuer LLC, 7.13%, 06/01/2031 (e) (w)		17,932		18,250
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		2,110
Ryan Specialty LLC, 4.38%, 02/01/2030 (e)		776		721
Tongyang Life Insurance Co. Ltd., (South Korea), Reg. S, (CMT Index 5 Year + 4.98%), 5.25%, 09/22/2025 (x) (aa)		2,487		2,377
USI, Inc., 7.50%, 01/15/2032 (e)		3,137		3,144
ZhongAn Online P&C Insurance Co. Ltd., (China), Reg. S, 3.13%, 07/16/2025		4,750		4,537
				201,634
Investment Companies — 0.8%
Apollo Debt Solutions BDC, 6.90%, 04/13/2029 (e)		1,520		1,536
Ares Capital Corp., 5.88%, 03/01/2029		637		635

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Blackstone Private Credit Fund,
3.25%, 03/15/2027		498		460
6.25%, 01/25/2031 (e)		1,234		1,240
7.05%, 09/29/2025		602		611
Blue Owl Capital Corp.,
3.40%, 07/15/2026		424		400
3.75%, 07/22/2025		529		513
Blue Owl Capital Corp. II, 8.45%, 11/15/2026 (e)		672		692
Blue Owl Credit Income Corp.,
3.13%, 09/23/2026		284		261
5.50%, 03/21/2025		101		100
7.75%, 09/16/2027		1,603		1,643
Compass Group Diversified Holdings LLC, 5.25%, 04/15/2029 (e)		1,450		1,378
Gaci First Investment Co., (Cayman Islands), Reg. S, 4.88%, 02/14/2035		3,000		2,860
HPS Corporate Lending Fund, 6.75%, 01/30/2029 (e)		1,002		1,000
Huarong Finance 2017 Co. Ltd., (British Virgin Islands),
Reg. S, 4.25%, 11/07/2027		1,900		1,753
Reg. S, 4.75%, 04/27/2027		8,300		7,823
Huarong Finance 2019 Co. Ltd., (British Virgin Islands),
Reg. S, 3.25%, 11/13/2024		2,200		2,152
Reg. S, 3.75%, 05/29/2024		1,000		993
Reg. S, 4.50%, 05/29/2029		2,300		2,096
Reg. S, (SOFR Compounded Index + 1.51%), 6.87%, 02/24/2025 (aa)		1,400		1,396
Huarong Finance II Co. Ltd., (British Virgin Islands),
Reg. S, 4.63%, 06/03/2026		1,600		1,533
Reg. S, 5.00%, 11/19/2025		10,200		9,923
Icahn Enterprises LP / Icahn Enterprises Finance Corp.,
4.38%, 02/01/2029		3,310		2,823
5.25%, 05/15/2027		7,510		6,965
6.25%, 05/15/2026		252		247
9.75%, 01/15/2029 (e)		1,342		1,401
Khazanah Capital Ltd., (Malaysia), Reg. S, 4.88%, 06/01/2033		3,700		3,644
Oaktree Strategic Credit Fund, 8.40%, 11/14/2028 (e)		745		790
Suci Second Investment Co., (Cayman Islands), Reg. S, 6.00%, 10/25/2028		3,300		3,410
				60,278
Private Equity — 0.0% (g)
HAT Holdings I LLC / HAT Holdings II LLC,
3.38%, 06/15/2026 (e)		1,208		1,138
8.00%, 06/15/2027 (e)		939		979
				2,117
Real Estate — 1.9%
ADLER Group SA, (Luxembourg), Reg. S, 21.00% (PIK), 07/31/2025 (v)	EUR	100		108
Aedas Homes Opco SL, (Spain), Reg. S, 4.00%, 08/15/2026	EUR	6,870		7,285
Agile Group Holdings Ltd., (Cayman Islands),
Reg. S, 5.50%, 04/21/2025		6,300		887
Reg. S, 5.50%, 05/17/2026		1,700		218
Reg. S, 5.75%, 01/02/2025		6,250		1,024
Reg. S, 6.05%, 10/13/2025		800		105

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Agps Bondco plc, (United Kingdom),
Reg. S, 5.00%, 01/14/2029	EUR	4,400		1,787
Reg. S, 5.50%, 11/13/2026	EUR	200		83
Reg. S, 6.00%, 08/05/2025 (d)	EUR	100		43
Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp.,
7.00%, 04/15/2030 (e)		2,655		2,365
Series AI, 7.00%, 04/15/2030		2,090		1,862
Aroundtown SA, (Luxembourg),
Reg. S, 0.38%, 04/15/2027	EUR	100		90
Reg. S, (GBP Swap Rate 5 Year + 4.38%), 4.75%, 06/25/2024 (x) (aa)	GBP	200		151
ATF Netherlands BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 4.38%), 7.08%, 01/20/2025 (x) (aa)	EUR	300		203
BRANICKS Group AG, (Germany), Reg. S, 2.25%, 09/22/2026	EUR	100		34
Central Plaza Development Ltd., (British Virgin Islands), Reg. S, 3.85%, 07/14/2025		900		814
CIFI Holdings Group Co. Ltd., (Cayman Islands),
Reg. S, 4.45%, 08/17/2026 (d)		4,450		356
Reg. S, 6.00%, 07/16/2025 (d)		2,700		216
Citycon Treasury BV, (Netherlands), Reg. S, 2.38%, 01/15/2027	EUR	200		197
Country Garden Holdings Co. Ltd., (Cayman Islands),
Reg. S, 2.70%, 07/12/2026 (d)		5,900		366
Reg. S, 3.88%, 10/22/2030 (d)		273		18
Reg. S, 4.20%, 02/06/2026 (d)		6,700		442
Reg. S, 5.63%, 01/14/2030 (d)		200		13
Cushman & Wakefield US Borrower LLC,
6.75%, 05/15/2028 (e)		2,168		2,141
8.88%, 09/01/2031 (e)		1,195		1,263
DEMIRE Deutsche Mittelstand Real Estate AG, (Germany), Reg. S, 1.88%, 10/15/2024	EUR	100		70
Easy Tactic Ltd., (British Virgin Islands),
Reg. S, 6.50% (cash), 07/11/2025 (v)		431		17
Reg. S, 6.50% (cash), 07/11/2027 (v)		15,943		492
Reg. S, 6.50% (cash), 07/11/2028 (v)		11,642		336
Emeria SASU, (France),
Reg. S, 3.38%, 03/31/2028	EUR	3,220		2,963
Reg. S, 7.75%, 03/31/2028	EUR	3,690		3,861
Five Point Operating Co. LP / Five Point Capital Corp., 10.50%, 01/15/2028 (e)		3,039		3,129
Franshion Brilliant Ltd., (British Virgin Islands),
Reg. S, 3.20%, 04/09/2026		400		348
Reg. S, 4.25%, 07/23/2029		3,500		2,419
Fuqing Investment Management Ltd., (British Virgin Islands), Reg. S, 3.25%, 06/23/2025		400		359
GLP China Holdings Ltd., (Hong Kong), Reg. S, 2.95%, 03/29/2026		3,850		3,101
GLP Pte Ltd., (Singapore),
Reg. S, 3.88%, 06/04/2025		6,900		6,075
Reg. S, (CMT Index 5 Year + 3.74%), 4.50%, 05/17/2026 (x) (aa)		700		326
Reg. S, (CMT Index 5 Year + 3.73%), 4.60%, 06/29/2027 (x) (aa)		2,260		1,044
Greystar Real Estate Partners LLC, 7.75%, 09/01/2030 (e)		1,000		1,036
Heimstaden Bostad AB, (Sweden),
Reg. S, (EUR Swap Rate 5 Year + 3.15%), 2.63%, 02/01/2027 (x) (aa)	EUR	100		65
Reg. S, (EUR Swap Rate 5 Year + 3.91%), 3.38%, 01/15/2026 (x) (aa)	EUR	150		106

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Heimstaden Bostad Treasury BV, (Netherlands),
Reg. S, 0.63%, 07/24/2025	EUR	100		99
Reg. S, 1.00%, 04/13/2028	EUR	100		85
Reg. S, 1.63%, 10/13/2031	EUR	5,440		4,099
Howard Hughes Corp. (The),
4.13%, 02/01/2029 (e)		2,556		2,296
4.38%, 02/01/2031 (e)		3,248		2,820
5.38%, 08/01/2028 (e)		2,850		2,734
Hunt Cos., Inc., 5.25%, 04/15/2029 (e)		4,490		4,100
KWG Group Holdings Ltd., (Cayman Islands), Reg. S, 5.95%, 08/10/2025 (d)		4,400		356
Lai Sun MTN Ltd., (Hong Kong), Reg. S, 5.00%, 07/28/2026		2,800		1,686
Longfor Group Holdings Ltd., (Cayman Islands),
Reg. S, 3.95%, 09/16/2029		9,400		4,850
Reg. S, 4.50%, 01/16/2028		1,200		733
New Metro Global Ltd., (British Virgin Islands),
Reg. S, 4.50%, 05/02/2026		1,100		324
Reg. S, 4.80%, 12/15/2024		3,400		1,717
NWD Finance BVI Ltd., (British Virgin Islands),
Reg. S, (CMT Index 5 Year + 5.86%), 4.13%, 03/10/2028 (x) (aa)		8,000		4,640
Reg. S, 4.80%, 04/29/2024 (x)		1,600		702
Reg. S, (CMT Index 5 Year + 7.89%), 5.25%, 03/22/2026 (x) (aa)		20,200		14,491
NWD Finance BVI Ltd., (British Virgin), Reg. S, (CMT Index 3 Year + 6.20%), 6.15%, 03/16/2025 (x) (aa)		2,700		2,376
NWD MTN Ltd., (British Virgin Islands), Reg. S, 4.13%, 07/18/2029		600		457
Pakuwon Jati Tbk. PT, (Indonesia), Reg. S, 4.88%, 04/29/2028		1,000		933
PCPD Capital Ltd., (Cayman Islands), Reg. S, 5.13%, 06/18/2026		4,925		4,197
RKPF Overseas 2020 A Ltd., (British Virgin Islands),
Reg. S, 5.13%, 07/26/2026		12,450		2,921
Reg. S, 5.20%, 01/12/2026		800		198
Samhallsbyggnadsbolaget i Norden AB, (Sweden),
Reg. S, 2.25%, 08/12/2027	EUR	9,170		6,576
Reg. S, (EUR Swap Rate 5 Year + 2.81%), 2.62%, 01/30/2025 (x) (aa)	EUR	10,000		2,481
SBB Treasury OYJ, (Finland), Reg. S, 1.13%, 11/26/2029	EUR	5,130		3,137
Seazen Group Ltd., (Cayman Islands), Reg. S, 4.45%, 07/13/2025		3,248		1,169
Shui On Development Holding Ltd., (Cayman Islands),
Reg. S, 5.50%, 03/03/2025		1,000		686
Reg. S, 5.50%, 06/29/2026		3,800		2,128
Reg. S, 6.15%, 08/24/2024		600		525
Sunac China Holdings Ltd., (Cayman Islands),
6.00% (PIK), 09/30/2025 (e) (v)		719		79
6.25% (PIK), 09/30/2026 (e) (v)		719		73
6.50% (PIK), 09/30/2027 (e) (v)		1,438		123
6.75% (PIK), 09/30/2028 (e) (v)		2,156		151
7.00% (PIK), 09/30/2029 (e) (v)		2,156		140
7.25% (PIK), 09/30/2030 (e) (v)		1,013		65
Times China Holdings Ltd., (Cayman Islands), Reg. S, 6.60%, 03/02/2023 (d)		1,200		28
Vanke Real Estate Hong Kong Co. Ltd., (Hong Kong),
Reg. S, 3.15%, 05/12/2025		1,000		725
Reg. S, 3.50%, 11/12/2029		1,600		729
Reg. S, 3.98%, 11/09/2027		5,300		2,679

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Vivion Investments Sarl, (Luxembourg), Reg. S, 3.00%, 08/08/2024	EUR	100		105
VLL International, Inc., (Cayman Islands), Reg. S, 5.75%, 11/28/2024		4,400		4,323
Yanlord Land HK Co. Ltd., (Hong Kong), Reg. S, 5.13%, 05/20/2026		3,000		2,373
				132,927
REITS — 1.1%
American Tower Corp.,
1.60%, 04/15/2026		28		26
2.75%, 01/15/2027		750		703
3.60%, 01/15/2028		240		227
3.65%, 03/15/2027		429		411
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 4.50%, 04/01/2027 (e)		65		59
Crown Castle, Inc.,
3.65%, 09/01/2027		544		516
4.80%, 09/01/2028		88		86
Diversified Healthcare Trust,
4.38%, 03/01/2031		1,950		1,460
4.75%, 02/15/2028		3,620		2,938
9.75%, 06/15/2025		83		83
EPR Properties, 4.75%, 12/15/2026		999		967
GLP Capital LP / GLP Financing II, Inc.,
3.25%, 01/15/2032		994		838
5.25%, 06/01/2025		139		138
5.38%, 04/15/2026		674		668
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/2032 (e)		2,702		2,473
Iron Mountain UK plc, (United Kingdom), Reg. S, 3.88%, 11/15/2025	GBP	100		122
Iron Mountain, Inc.,
5.63%, 07/15/2032 (e)		1,140		1,077
7.00%, 02/15/2029 (e)		3,290		3,351
Kite Realty Group Trust, 4.00%, 03/15/2025		99		97
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.,
4.75%, 06/15/2029 (e)		19		17
5.25%, 10/01/2025 (e)		201		198
MPT Operating Partnership LP / MPT Finance Corp.,
2.50%, 03/24/2026	GBP	979		1,054
3.33%, 03/24/2025	EUR	3,080		3,115
3.50%, 03/15/2031		2,851		1,966
4.63%, 08/01/2029		4,834		3,707
5.00%, 10/15/2027		1,115		941
5.25%, 08/01/2026		346		319
RHP Hotel Properties LP / RHP Finance Corp.,
4.50%, 02/15/2029 (e)		4,325		4,037
4.75%, 10/15/2027		2,306		2,221
6.50%, 04/01/2032 (e)		6,240		6,263
7.25%, 07/15/2028 (e)		885		911
RLJ Lodging Trust LP, 4.00%, 09/15/2029 (e)		159		140
Sabra Health Care LP, 5.13%, 08/15/2026		250		248
SBA Communications Corp.,
3.13%, 02/01/2029		6,188		5,447
3.88%, 02/15/2027		2,159		2,055

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Service Properties Trust, 8.63%, 11/15/2031 (e)		11,079		11,816
Starwood Property Trust, Inc., 7.25%, 04/01/2029 (e)		1,705		1,719
Trust Fibra Uno, (Mexico), 7.38%, 02/13/2034 (e)		2,300		2,295
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 10.50%, 02/15/2028 (e)		7,307		7,575
VICI Properties LP, 5.63%, 05/15/2052		755		699
VICI Properties LP / VICI Note Co., Inc.,
3.50%, 02/15/2025 (e)		665		650
3.75%, 02/15/2027 (e)		218		207
3.88%, 02/15/2029 (e)		608		560
4.13%, 08/15/2030 (e)		91		83
4.25%, 12/01/2026 (e)		532		512
4.50%, 09/01/2026 (e)		267		259
4.50%, 01/15/2028 (e)		500		479
4.63%, 06/15/2025 (e)		385		379
4.63%, 12/01/2029 (e)		1,574		1,488
5.75%, 02/01/2027 (e)		1,507		1,505
Vornado Realty LP, 3.50%, 01/15/2025		219		214
WEA Finance LLC / Westfield UK & Europe Finance plc, 3.75%, 09/17/2024 (e)		500		494
				79,813
Savings & Loans — 0.0% (g)
Nationwide Building Society, (United Kingdom), Reg. S, (UK Gilts 5 Year + 5.63%), 5.75%, 06/20/2027 (x) (aa)	GBP	200		239
Total Financial				1,007,776
Industrial — 8.8%
Aerospace/Defense — 1.6%
AAR Escrow Issuer LLC, 6.75%, 03/15/2029 (e)		1,689		1,702
Boeing Co. (The),
2.20%, 02/04/2026		1,300		1,217
4.88%, 05/01/2025		137		136
5.81%, 05/01/2050		1,505		1,429
5.93%, 05/01/2060		4,120		3,866
Bombardier, Inc., (Canada),
6.00%, 02/15/2028 (e)		11,974		11,780
7.13%, 06/15/2026 (e)		2,076		2,106
7.25%, 07/01/2031 (e) (w)		3,165		3,174
7.45%, 05/01/2034 (e)		351		389
7.50%, 02/01/2029 (e)		2,844		2,928
7.88%, 04/15/2027 (e)		4,961		4,967
8.75%, 11/15/2030 (e)		6,521		6,964
Embraer Netherlands Finance BV, (Netherlands), 7.00%, 07/28/2030 (e)		1,743		1,825
F-Brasile SpA / F-Brasile US LLC, (Italy), Series XR, 7.38%, 08/15/2026 (e)		4,738		4,714
HEICO Corp., 5.25%, 08/01/2028		78		78
Hexcel Corp., 4.95%, 08/15/2025		136		134
Spirit AeroSystems, Inc.,
9.38%, 11/30/2029 (e)		2,925		3,191
9.75%, 11/15/2030 (e)		3,254		3,640

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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		1,747		1,711
6.38%, 03/01/2029 (e)		17,819		17,897
6.63%, 03/01/2032 (e)		17,449		17,635
6.75%, 08/15/2028 (e)		12,287		12,464
7.13%, 12/01/2031 (e)		6,509		6,707
7.50%, 03/15/2027		500		500
Triumph Group, Inc., 9.00%, 03/15/2028 (e)		7,920		8,352
				119,506
Building Materials — 1.3%
Builders FirstSource, Inc., 6.38%, 03/01/2034 (e)		1,231		1,237
Camelot Return Merger Sub, Inc., 8.75%, 08/01/2028 (e)		4,420		4,538
Carrier Global Corp., 5.80%, 11/30/2025		79		79
Cornerstone Building Brands, Inc., 6.13%, 01/15/2029 (e)		1,475		1,315
Eco Material Technologies, Inc., 7.88%, 01/31/2027 (e)		2,100		2,131
EMRLD Borrower LP / Emerald Co-Issuer, Inc.,
Reg. S, 6.38%, 12/15/2030	EUR	1,160		1,314
6.38%, 12/15/2030 (e)	EUR	5,066		5,738
6.63%, 12/15/2030 (e)		18,334		18,515
Griffon Corp., 5.75%, 03/01/2028		1,380		1,352
HT Troplast GmbH, (Germany), Reg. S, 9.38%, 07/15/2028	EUR	300		339
JELD-WEN, Inc., 4.63%, 12/15/2025 (e)		2,060		2,010
Knife River Corp., 7.75%, 05/01/2031 (e)		425		445
Masonite International Corp., (Canada),
3.50%, 02/15/2030 (e)		97		85
5.38%, 02/01/2028 (e)		1,375		1,377
Miter Brands Acquisition Holdco, Inc. / MIWD Borrower LLC, 6.75%, 04/01/2032 (e)		1,085		1,089
MIWD Holdco II LLC / MIWD Finance Corp., 5.50%, 02/01/2030 (e)		2,050		1,888
New Enterprise Stone & Lime Co., Inc.,
5.25%, 07/15/2028 (e)		1,560		1,497
9.75%, 07/15/2028 (e)		1,023		1,047
PCF GmbH, (Germany), Reg. S, 4.75%, 04/15/2026	EUR	100		82
Smyrna Ready Mix Concrete LLC,
6.00%, 11/01/2028 (e)		5,569		5,454
8.88%, 11/15/2031 (e)		8,369		8,946
Standard Industries, Inc.,
Reg. S, 2.25%, 11/21/2026	EUR	9,377		9,475
3.38%, 01/15/2031 (e)		5,875		4,933
4.38%, 07/15/2030 (e)		5,399		4,852
4.75%, 01/15/2028 (e)		1,007		961
5.00%, 02/15/2027 (e)		1,526		1,481
Summit Materials LLC / Summit Materials Finance Corp.,
5.25%, 01/15/2029 (e)		38		37
7.25%, 01/15/2031 (e)		3,383		3,517
West China Cement Ltd., (Jersey), Reg. S, 4.95%, 07/08/2026		6,700		5,626
				91,360

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Electrical Components & Equipments — 0.3%
Belden, Inc.,
Reg. S, 3.38%, 07/15/2027	EUR	3,000		3,129
Reg. S, 3.38%, 07/15/2031	EUR	5,600		5,561
Energizer Holdings, Inc.,
4.38%, 03/31/2029 (e)		750		673
6.50%, 12/31/2027 (e)		2,275		2,263
EnerSys,
4.38%, 12/15/2027 (e)		560		530
6.63%, 01/15/2032 (e)		235		237
Nexans SA, (France), Reg. S, 4.25%, 03/11/2030	EUR	100		108
WESCO Distribution, Inc.,
6.38%, 03/15/2029 (e)		2,373		2,398
6.63%, 03/15/2032 (e)		2,145		2,180
7.13%, 06/15/2025 (e)		607		608
7.25%, 06/15/2028 (e)		1,585		1,618
				19,305
Electronics — 0.3%
AAC Technologies Holdings, Inc., (Cayman Islands), Reg. S, 3.00%, 11/27/2024		7,350		7,185
Coherent Corp., 5.00%, 12/15/2029 (e)		2,897		2,727
Imola Merger Corp., 4.75%, 05/15/2029 (e)		1,957		1,835
Keysight Technologies, Inc., 4.60%, 04/06/2027		71		70
Likewize Corp., 9.75%, 10/15/2025 (e)		3,080		3,128
Sensata Technologies BV, (Netherlands),
4.00%, 04/15/2029 (e)		74		68
5.88%, 09/01/2030 (e)		464		454
Sensata Technologies, Inc.,
3.75%, 02/15/2031 (e)		990		856
4.38%, 02/15/2030 (e)		3,551		3,232
TD SYNNEX Corp., 1.25%, 08/09/2024		825		812
Vontier Corp., 2.40%, 04/01/2028		765		678
				21,045
Engineering & Construction — 1.5%
Abertis Infraestructuras Finance BV, (Netherlands),
Reg. S, (EUR Swap Rate 5 Year + 3.27%), 2.63%, 01/26/2027 (x) (aa)	EUR	14,300		14,327
Reg. S, (EUR Swap Rate 5 Year + 3.69%), 3.25%, 11/24/2025 (x) (aa)	EUR	200		209
Arcosa, Inc., 4.38%, 04/15/2029 (e)		1,705		1,572
Azzurra Aeroporti SpA, (Italy), Reg. S, 2.13%, 05/30/2024	EUR	323		347
Bioceanico Sovereign Certificate Ltd., (Cayman Islands), Reg. S, Zero Coupon, 06/05/2034		4,425		3,230
Brand Industrial Services, Inc., 10.38%, 08/01/2030 (e)		13,202		14,288
Cellnex Finance Co. SA, (Spain),
Reg. S, 1.00%, 09/15/2027	EUR	100		99
Reg. S, 1.25%, 01/15/2029	EUR	300		291
Reg. S, 1.50%, 06/08/2028	EUR	100		99
Reg. S, 2.00%, 09/15/2032	EUR	5,200		4,905
Reg. S, 2.00%, 02/15/2033	EUR	100		93
Reg. S, 2.25%, 04/12/2026	EUR	22,100		23,156
Cellnex Telecom SA, (Spain), Reg. S, 1.75%, 10/23/2030	EUR	3,500		3,360
Dycom Industries, Inc., 4.50%, 04/15/2029 (e)		343		321
Gatwick Airport Finance plc, (United Kingdom), Reg. S, 4.38%, 04/07/2026	GBP	13,940		16,910

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
GMR Hyderabad International Airport Ltd., (India),
Reg. S, 4.25%, 10/27/2027		2,077		1,912
Reg. S, 4.75%, 02/02/2026		6,050		5,826
Heathrow Finance plc, (United Kingdom),
Reg. S, SUB, 3.88%, 03/01/2027	GBP	1,640		1,938
Reg. S, 5.75%, 03/03/2025	GBP	5,200		6,530
India Airport Infra, (Mauritius), Reg. S, 6.25%, 10/25/2025		966		965
Infrastrutture Wireless Italiane SpA, (Italy), Reg. S, 1.63%, 10/21/2028	EUR	400		399
IRB Infrastructure Developers Ltd., (India), 7.11%, 03/11/2032 (e)		8,500		8,598
Jacobs Engineering Group, Inc., 6.35%, 08/18/2028		309		319
Kier Group plc, (United Kingdom), Reg. S, 9.00%, 02/15/2029	GBP	280		360
Sitios Latinoamerica SAB de CV, (Mexico), Reg. S, 5.38%, 04/04/2032		800		748
TopBuild Corp.,
3.63%, 03/15/2029 (e)		500		454
4.13%, 02/15/2032 (e)		1,525		1,350
				112,606
Environmental Control — 0.5%
Ambipar Lux Sarl, (Luxembourg), 9.88%, 02/06/2031 (e)		1,700		1,704
Clean Harbors, Inc.,
4.88%, 07/15/2027 (e)		252		244
5.13%, 07/15/2029 (e)		41		39
6.38%, 02/01/2031 (e)		506		510
Covanta Holding Corp.,
4.88%, 12/01/2029 (e)		3,045		2,729
5.00%, 09/01/2030		781		688
GFL Environmental, Inc., (Canada),
3.50%, 09/01/2028 (e)		185		169
4.00%, 08/01/2028 (e)		2,312		2,131
4.38%, 08/15/2029 (e)		2,687		2,476
4.75%, 06/15/2029 (e)		3,939		3,701
5.13%, 12/15/2026 (e)		1,114		1,094
6.75%, 01/15/2031 (e)		6,498		6,662
Madison IAQ LLC,
4.13%, 06/30/2028 (e)		1,116		1,033
5.88%, 06/30/2029 (e)		2,640		2,416
Paprec Holding SA, (France), Reg. S, 7.25%, 11/17/2029	EUR	300		345
Veralto Corp.,
5.35%, 09/18/2028 (e)		188		191
5.50%, 09/18/2026 (e)		215		216
Waste Pro USA, Inc., 5.50%, 02/15/2026 (e)		9,485		9,341
				35,689
Hand/Machine Tools — 0.0% (g)
Regal Rexnord Corp.,
6.05%, 02/15/2026 (e)		114		115
6.05%, 04/15/2028 (e)		1,180		1,197
				1,312
Machinery—Construction & Mining — 0.1%
BWX Technologies, Inc.,
4.13%, 06/30/2028 (e)		341		318
4.13%, 04/15/2029 (e)		2,058		1,899

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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—Construction & Mining — continued
Terex Corp., 5.00%, 05/15/2029 (e)		3,652		3,449
Vertiv Group Corp., 4.13%, 11/15/2028 (e)		3,151		2,933
Weir Group plc (The), (United Kingdom), 2.20%, 05/13/2026 (e)		1,425		1,323
				9,922
Machinery—Diversified — 0.7%
AGCO Corp., 5.45%, 03/21/2027		83		83
ATS Corp., (Canada), 4.13%, 12/15/2028 (e)		114		105
Chart Industries, Inc.,
7.50%, 01/01/2030 (e)		6,831		7,095
9.50%, 01/01/2031 (e)		2,732		2,975
Esab Corp., 6.25%, 04/15/2029 (e) (w)		1,567		1,574
GrafTech Finance, Inc., 4.63%, 12/15/2028 (e)		2,625		1,693
GrafTech Global Enterprises, Inc., 9.88%, 12/15/2028 (e)		580		429
Husky III Holding Ltd., (Canada), 13.00% (cash), 02/15/2025 (e) (v)		122		122
Husky Injection Molding Systems Ltd. / Titan Co-Borrower LLC, (Canada), 9.00%, 02/15/2029 (e)		5,631		5,824
Maxim Crane Works Holdings Capital LLC, 11.50%, 09/01/2028 (e)		2,500		2,710
Mueller Water Products, Inc., 4.00%, 06/15/2029 (e)		1,088		987
Novafives SAS, (France), Reg. S, 5.00%, 06/15/2025	EUR	100		107
OT Merger Corp., 7.88%, 10/15/2029 (e)		394		284
Titan Acquisition Ltd. / Titan Co-Borrower LLC, (Multinational), 7.75%, 04/15/2026 (e)		7,395		7,386
TK Elevator Holdco GmbH, (Germany),
Reg. S, 6.63%, 07/15/2028	EUR	667		696
7.63%, 07/15/2028 (e)		3,711		3,639
TK Elevator Midco GmbH, (Germany), Reg. S, 4.38%, 07/15/2027	EUR	1,053		1,092
TK Elevator US Newco, Inc., 5.25%, 07/15/2027 (e)		11,341		10,959
				47,760
Metal Fabricate/Hardware — 0.1%
Advanced Drainage Systems, Inc.,
5.00%, 09/30/2027 (e)		564		547
6.38%, 06/15/2030 (e)		3,097		3,114
Roller Bearing Co. of America, Inc., 4.38%, 10/15/2029 (e)		1,345		1,231
Vallourec SACA, (France), Reg. S, 8.50%, 06/30/2026	EUR	200		218
				5,110
Miscellaneous Manufacturers — 0.1%
Amsted Industries, Inc.,
4.63%, 05/15/2030 (e)		3,016		2,754
5.63%, 07/01/2027 (e)		175		172
Trinity Industries, Inc.,
4.55%, 10/01/2024		400		396
7.75%, 07/15/2028 (e)		1,575		1,618
				4,940
Packaging & Containers — 1.8%
ARD Finance SA, (Luxembourg), 6.50% (cash), 06/30/2027 (e) (v)		2,224		744
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc, (Multinational),
Reg. S, 2.00%, 09/01/2028	EUR	300		275
Reg. S, 3.00%, 09/01/2029	EUR	300		248
3.25%, 09/01/2028 (e)		1,707		1,475

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
4.00%, 09/01/2029 (e)		7,881		6,357
6.00%, 06/15/2027 (e)		824		800
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc., (Multinational),
Reg. S, 2.13%, 08/15/2026	EUR	10,235		9,496
4.13%, 08/15/2026 (e)		4,739		4,291
Reg. S, 4.75%, 07/15/2027	GBP	200		150
5.25%, 04/30/2025 (e)		2,116		2,046
5.25%, 08/15/2027 (e)		694		437
Ball Corp., 3.13%, 09/15/2031		354		301
Clydesdale Acquisition Holdings, Inc.,
6.63%, 04/15/2029 (e)		4,139		4,141
8.75%, 04/15/2030 (e)		4,122		4,053
Crown Americas LLC, 5.25%, 04/01/2030		488		471
Crown European Holdings SA, (France),
Reg. S, 3.38%, 05/15/2025	EUR	8,010		8,567
Reg. S, 5.00%, 05/15/2028	EUR	100		111
Fiber Bidco Spa, (Italy),
Reg. S, (ICE LIBOR EUR 3 Month + 4.00%), 7.91%, 01/15/2030 (aa)	EUR	100		108
(ICE LIBOR EUR 3 Month + 4.00%), 7.91%, 01/15/2030 (e) (aa)	EUR	3,000		3,249
Reg. S, 11.00%, 10/25/2027	EUR	400		468
Graham Packaging Co., Inc., 7.13%, 08/15/2028 (e)		1,325		1,201
Graphic Packaging International LLC,
Reg. S, 2.63%, 02/01/2029	EUR	400		400
3.50%, 03/01/2029 (e)		825		742
4.13%, 08/15/2024		475		471
Intelligent Packaging Holdco Issuer LP, (Canada), 9.00% (cash), 01/15/2026 (e) (v)		1,775		1,674
Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, (Canada), 6.00%, 09/15/2028 (e)		2,964		2,812
Iris Holding, Inc., 10.00%, 12/15/2028 (e)		2,464		2,213
Kleopatra Finco Sarl, (Luxembourg), Reg. S, 4.25%, 03/01/2026	EUR	224		204
LABL, Inc.,
5.88%, 11/01/2028 (e)		2,395		2,202
6.75%, 07/15/2026 (e)		2,975		2,938
8.25%, 11/01/2029 (e)		2,125		1,814
9.50%, 11/01/2028 (e)		3,538		3,579
10.50%, 07/15/2027 (e)		2,405		2,385
Mauser Packaging Solutions Holding Co.,
7.88%, 08/15/2026 (e)		20,209		20,592
9.25%, 04/15/2027 (e)		780		773
OI European Group BV, (Netherlands),
Reg. S, 2.88%, 02/15/2025	EUR	7,040		7,481
4.75%, 02/15/2030 (e)		250		230
6.25%, 05/15/2028 (e)	EUR	568		639
Owens-Brockway Glass Container, Inc.,
6.63%, 05/13/2027 (e)		354		354
7.25%, 05/15/2031 (e)		1,272		1,296
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc., 4.38%, 10/15/2028 (e)		1,775		1,656
Reno de Medici SpA, (Italy), (ICE LIBOR EUR 3 Month + 5.00%), 8.89%, 04/15/2029 (e) (w) (aa)	EUR	14,200		14,979

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Sealed Air Corp.,
4.00%, 12/01/2027 (e)		89		84
5.00%, 04/15/2029 (e)		267		256
Sealed Air Corp. / Sealed Air Corp. US,
6.13%, 02/01/2028 (e)		375		376
7.25%, 02/15/2031 (e)		1,957		2,035
Titan Holdings II BV, (Netherlands), Reg. S, 5.13%, 07/15/2029	EUR	153		147
Trident TPI Holdings, Inc., 12.75%, 12/31/2028 (e)		4,783		5,103
TriMas Corp., 4.13%, 04/15/2029 (e)		525		476
Trivium Packaging Finance BV, (Netherlands),
5.50%, 08/15/2026 (e)		3,818		3,763
8.50%, 08/15/2027 (e)		400		395
				131,058
Shipbuilding — 0.0% (g)
Huntington Ingalls Industries, Inc., 2.04%, 08/16/2028		768		671
Transportation — 0.3%
Empresa de los Ferrocarriles del Estado, (Chile), Reg. S, 3.83%, 09/14/2061		1,200		794
GN Bondco LLC, 9.50%, 10/15/2031 (e)		5,379		5,371
Mobico Group plc, (United Kingdom), Reg. S, (UK Gilts 5 Year + 4.14%), 4.25%, 11/26/2025 (x) (aa)	GBP	275		317
Poste Italiane SpA, (Italy), Reg. S, (ICE EURIBOR Swap Rate 5 Year + 2.68%), 2.63%, 03/24/2029 (x) (aa)	EUR	200		188
Rand Parent LLC, 8.50%, 02/15/2030 (e)		173		171
RXO, Inc., 7.50%, 11/15/2027 (e)		2,279		2,339
Ryder System, Inc., 5.30%, 03/15/2027		165		166
Seaspan Corp., (Marshall Island), Reg. S, 5.50%, 08/01/2029		2,400		2,102
SGL Group ApS, (Denmark), Reg. S, (ICE LIBOR EUR 3 Month + 4.75%), 8.66%, 04/22/2030 (e) (w) (aa)	EUR	160		171
XPO, Inc.,
6.25%, 06/01/2028 (e)		650		656
7.13%, 06/01/2031 (e)		150		154
7.13%, 02/01/2032 (e)		800		823
Yunda Holding Investment Ltd., (British Virgin Islands), Reg. S, 2.25%, 08/19/2025		6,300		5,946
				19,198
Trucking & Leasing — 0.2%
Fortress Transportation and Infrastructure Investors LLC,
5.50%, 05/01/2028 (e)		5,066		4,908
6.50%, 10/01/2025 (e)		358		357
7.88%, 12/01/2030 (e)		8,160		8,569
9.75%, 08/01/2027 (e)		1,034		1,071
GATX Corp., 5.40%, 03/15/2027		140		141
Penske Truck Leasing Co. LP / PTL Finance Corp.,
3.40%, 11/15/2026 (e)		113		108
4.20%, 04/01/2027 (e)		697		677
5.35%, 01/12/2027 (e)		450		451
5.35%, 03/30/2029 (e) (w)		173		173
6.05%, 08/01/2028 (e)		315		324
				16,779
Total Industrial				636,261

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 2.8%
Computers — 0.5%
Atos SE, (France), Reg. S, 1.75%, 05/07/2025	EUR	100		16
Banff Merger Sub, Inc., Reg. S, 8.38%, 09/01/2026	EUR	106		114
Booz Allen Hamilton, Inc., 3.88%, 09/01/2028 (e)		173		162
CA Magnum Holdings, (Mauritius),
5.38%, 10/31/2026 (e)		4,274		4,084
Reg. S, 5.38%, 10/31/2026		9,550		9,124
Dell International LLC / EMC Corp.,
4.90%, 10/01/2026		200		199
6.02%, 06/15/2026		93		94
KBR, Inc., 4.75%, 09/30/2028 (e)		438		403
Lenovo Group Ltd., (Hong Kong),
5.83%, 01/27/2028 (e)		1,600		1,619
Reg. S, 6.54%, 07/27/2032		1,700		1,793
McAfee Corp., 7.38%, 02/15/2030 (e)		7,952		7,279
NCR Atleos Corp., 9.50%, 04/01/2029 (e)		2,487		2,660
NCR Voyix Corp.,
5.00%, 10/01/2028 (e)		1,175		1,094
5.13%, 04/15/2029 (e)		2,071		1,921
5.25%, 10/01/2030 (e)		1,052		952
Presidio Holdings, Inc., 4.88%, 02/01/2027 (e)		203		197
Seagate HDD Cayman, (Cayman Islands),
8.25%, 12/15/2029 (e)		4,536		4,875
8.50%, 07/15/2031 (e)		2,131		2,303
Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 5.75%, 06/01/2025 (e)		1,774		1,771
				40,660
Semiconductors — 0.2%
ams-OSRAM AG, (Austria), Reg. S, 10.50%, 03/30/2029	EUR	163		174
Entegris, Inc.,
4.38%, 04/15/2028 (e)		476		447
4.75%, 04/15/2029 (e)		7,718		7,391
Microchip Technology, Inc., 4.25%, 09/01/2025		607		597
Micron Technology, Inc., 5.38%, 04/15/2028		44		45
Qorvo, Inc., 1.75%, 12/15/2024		500		485
SK Hynix, Inc., (South Korea),
5.50%, 01/16/2027 (e)		600		600
6.50%, 01/17/2033 (e)		2,400		2,559
Synaptics, Inc., 4.00%, 06/15/2029 (e)		882		794
				13,092
Software — 2.1%
AthenaHealth Group, Inc., 6.50%, 02/15/2030 (e)		16,081		14,715
Black Knight InfoServ LLC, 3.63%, 09/01/2028 (e)		3,990		3,770
Boxer Parent Co., Inc.,
Reg. S, 6.50%, 10/02/2025	EUR	15,693		16,911
7.13%, 10/02/2025 (e)		2,794		2,797
9.13%, 03/01/2026 (e)		2,719		2,718
Camelot Finance SA, (Luxembourg), 4.50%, 11/01/2026 (e)		279		269
Capstone Borrower, Inc., 8.00%, 06/15/2030 (e)		1,410		1,463
Cedacri Mergeco SPA, (Italy), Reg. S, (ICE LIBOR EUR 3 Month + 5.50%), 9.40%, 05/15/2028 (aa)	EUR	200		216

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc., 8.00%, 06/15/2029 (e)		2,035		2,109
Central Parent, Inc. / CDK Global, Inc., 7.25%, 06/15/2029 (e)		5,561		5,676
Clarivate Science Holdings Corp.,
3.88%, 07/01/2028 (e)		7,727		7,149
4.88%, 07/01/2029 (e)		9,394		8,691
Cloud Software Group, Inc.,
6.50%, 03/31/2029 (e)		22,738		21,585
9.00%, 09/30/2029 (e)		10,617		10,186
Concentrix Corp., 6.65%, 08/02/2026		75		76
Constellation Software, Inc., (Canada), 5.16%, 02/16/2029 (e)		632		632
Dun & Bradstreet Corp. (The), 5.00%, 12/15/2029 (e)		5,671		5,238
Elastic NV, (Netherlands), 4.13%, 07/15/2029 (e)		2,106		1,896
Fair Isaac Corp., 4.00%, 06/15/2028 (e)		1,912		1,786
IPD 3 BV, (Netherlands), Reg. S, 8.00%, 06/15/2028	EUR	3,530		4,031
MicroStrategy, Inc., 6.13%, 06/15/2028 (e)		3,392		3,277
Open Text Corp., (Canada), 6.90%, 12/01/2027 (e)		500		517
Oracle Corp., 2.30%, 03/25/2028		615		555
Playtika Holding Corp., 4.25%, 03/15/2029 (e)		348		302
SS&C Technologies, Inc., 5.50%, 09/30/2027 (e)		6,001		5,859
Take-Two Interactive Software, Inc.,
4.95%, 03/28/2028		429		428
5.00%, 03/28/2026		730		726
Twilio, Inc.,
3.63%, 03/15/2029		228		205
3.88%, 03/15/2031		3,451		3,014
UKG, Inc., 6.88%, 02/01/2031 (e)		19,004		19,360
Veritas US, Inc. / Veritas Bermuda Ltd., 7.50%, 09/01/2025 (e)		321		294
ZoomInfo Technologies LLC / ZoomInfo Finance Corp., 3.88%, 02/01/2029 (e)		6,811		6,131
				152,582
Total Technology				206,334
Utilities — 3.9%
Electric — 3.6%
ACEN Finance Ltd., (Cayman Islands), Reg. S, 4.00%, 03/08/2025 (x)		5,000		3,204
Adani Green Energy Ltd., (India), Reg. S, 4.38%, 09/08/2024		1,500		1,481
Adani Transmission Step-One Ltd., (India), Reg. S, 4.00%, 08/03/2026		2,514		2,363
AES Corp. (The),
3.30%, 07/15/2025 (e)		1,005		973
5.45%, 06/01/2028		206		206
Alexander Funding Trust II, 7.47%, 07/31/2028 (e)		1,182		1,250
Algonquin Power & Utilities Corp., (Canada), SUB, 5.37%, 06/15/2026		281		280
Alliant Energy Finance LLC, 5.95%, 03/30/2029 (e)		400		412
Ameren Corp., 5.70%, 12/01/2026		874		886
American Electric Power Co., Inc.,
5.20%, 01/15/2029		350		351
5.70%, 08/15/2025		500		501
Avangrid, Inc., 3.20%, 04/15/2025		537		523
Black Hills Corp., 5.95%, 03/15/2028		137		141
Calpine Corp.,
3.75%, 03/01/2031 (e)		2,605		2,285

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
4.50%, 02/15/2028 (e)		973		923
4.63%, 02/01/2029 (e)		5,335		4,938
5.00%, 02/01/2031 (e)		6,861		6,293
5.13%, 03/15/2028 (e)		10,123		9,716
Chile Electricity Lux MPC Sarl, (Luxembourg), Reg. S, 6.01%, 01/20/2033		2,700		2,722
Cikarang Listrindo Tbk. PT, (Indonesia), Reg. S, 4.95%, 09/14/2026		6,400		6,160
Clean Renewable Power Mauritius Pte Ltd., (Mauritius), Reg. S, 4.25%, 03/25/2027		3,350		3,111
Clearway Energy Operating LLC,
3.75%, 01/15/2032 (e)		977		821
4.75%, 03/15/2028 (e)		796		757
Cleco Corporate Holdings LLC, 3.74%, 05/01/2026		497		478
CLP Power Hong Kong Financing Ltd., (British Virgin Islands), Reg. S, 2.13%, 06/30/2030		1,200		1,017
Comision Federal de Electricidad, (Mexico),
6.26%, 02/15/2052 (e)		1,200		1,045
Reg. S, 6.26%, 02/15/2052		200		174
Connecticut Light and Power Co. (The), 4.65%, 01/01/2029		1,000		990
Constellation Energy Generation LLC, 5.60%, 03/01/2028		127		129
ContourGlobal Power Holdings SA, (Luxembourg),
Reg. S, 2.75%, 01/01/2026	EUR	3,610		3,717
Reg. S, 3.13%, 01/01/2028	EUR	2,370		2,372
Diamond II Ltd., (Mauritius),
7.95%, 07/28/2026 (e)		1,000		1,018
Reg. S, 7.95%, 07/28/2026		3,100		3,154
Drax Finco plc, (United Kingdom), Reg. S, 2.63%, 11/01/2025	EUR	11,000		11,494
Edison International,
Series A, (CMT Index 5 Year + 4.70%), 5.38%, 03/15/2026 (x) (aa)		3,981		3,853
Series B, (CMT Index 5 Year + 3.90%), 5.00%, 12/15/2026 (x) (aa)		697		660
EDP - Energias de Portugal SA, (Portugal),
Reg. S, (EUR Swap Rate 5 Year + 1.84%), 1.70%, 07/20/2080 (aa)	EUR	3,700		3,832
Reg. S, (EUR Swap Rate 5 Year + 2.38%), 1.88%, 08/02/2081 (aa)	EUR	200		202
Reg. S, (EUR Swap Rate 5 Year + 3.18%), 5.94%, 04/23/2083 (aa)	EUR	4,400		4,958
Series NC8, Reg. S, (EUR Swap Rate 5 Year + 2.08%), 1.88%, 03/14/2082 (aa)	EUR	8,500		7,884
Electricite de France SA, (France),
Reg. S, (EUR Swap Rate 5 Year + 3.97%), 3.38%, 06/15/2030 (x) (aa)	EUR	16,200		15,247
5.70%, 05/23/2028 (e)		260		264
Reg. S, (GBP Swap Rate 13 Year + 4.23%), 6.00%, 01/29/2026 (x) (aa)	GBP	600		737
EPH Financing International A/S, (Czech Republic), Reg. S, 6.65%, 11/13/2028	EUR	1,000		1,113
Eskom Holdings SOC Ltd., (South Africa),
Reg. S, 6.35%, 08/10/2028		2,500		2,390
7.13%, 02/11/2025 (e)		500		497
Reg. S, 7.13%, 02/11/2025		1,600		1,590
Reg. S, 8.45%, 08/10/2028		4,500		4,463
Evergy Missouri West, Inc., 5.15%, 12/15/2027 (e)		234		234
Eversource Energy,
5.00%, 01/01/2027		94		94
5.95%, 02/01/2029		300		309
Fells Point Funding Trust, 3.05%, 01/31/2027 (e)		1,036		972
FirstEnergy Corp., 2.05%, 03/01/2025		330		317
FirstEnergy Transmission LLC, 4.35%, 01/15/2025 (e)		223		220
India Clean Energy Holdings, (Mauritius), Reg. S, 4.50%, 04/18/2027		1,100		1,008

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Israel Electric Corp. Ltd., (Israel), Reg. S, 4.25%, 08/14/2028 (e)		4,500		4,172
Jersey Central Power & Light Co., 4.70%, 04/01/2024 (e)		1,018		1,018
JSW Hydro Energy Ltd., (India), Reg. S, 4.13%, 05/18/2031		4,025		3,560
Liberty Utilities Co., 5.58%, 01/31/2029 (e)		557		560
LLPL Capital Pte Ltd., (Singapore), Reg. S, 6.88%, 02/04/2039		2,168		2,163
Minejesa Capital BV, (Netherlands), Reg. S, 4.63%, 08/10/2030		4,370		4,148
Mong Duong Finance Holdings BV, (Netherlands),
Reg. S, 5.13%, 05/07/2029		7,507		7,154
MVM Energetika Zrt, (Hungary), Reg. S, 7.50%, 06/09/2028		2,800		2,911
National Grid plc, (United Kingdom), 5.60%, 06/12/2028		91		93
Naturgy Finance BV, (Netherlands), Reg. S, (EUR Swap Rate 5 Year + 2.44%), 2.37%, 11/23/2026 (x) (aa)	EUR	300		302
NextEra Energy Capital Holdings, Inc., 5.75%, 09/01/2025		154		155
NextEra Energy Operating Partners LP,
3.88%, 10/15/2026 (e)		671		626
7.25%, 01/15/2029 (e)		753		770
NGG Finance plc, (United Kingdom),
Reg. S, (EUR Swap Rate 5 Year + 2.53%), 2.13%, 09/05/2082 (aa)	EUR	9,431		9,334
Reg. S, (GBP Swap Rate 12 Year + 3.48%), 5.63%, 06/18/2073 (aa)	GBP	5,040		6,297
NRG Energy, Inc.,
3.38%, 02/15/2029 (e)		750		666
3.63%, 02/15/2031 (e)		3,485		3,004
3.75%, 06/15/2024 (e)		500		497
3.88%, 02/15/2032 (e)		2,950		2,528
5.25%, 06/15/2029 (e)		1,204		1,153
5.75%, 01/15/2028		3,025		3,008
6.63%, 01/15/2027		538		539
7.00%, 03/15/2033 (e)		920		982
(CMT Index 5 Year + 5.92%), 10.25%, 03/15/2028 (e) (x) (aa)		4,709		5,049
Orsted A/S, (Denmark),
Reg. S, (ICE EURIBOR Swap Rate 5 Year + 1.95%), 1.75%, 12/09/3019 (aa)	EUR	3,110		3,022
Reg. S, (UK Gilts 5 Year + 2.14%), 2.50%, 02/18/3021 (aa)	GBP	2,134		1,948
Pacific Gas and Electric Co.,
3.15%, 01/01/2026		529		508
3.30%, 12/01/2027		270		251
5.45%, 06/15/2027		9		9
6.95%, 03/15/2034		551		604
Palomino Funding Trust I, 7.23%, 05/17/2028 (e)		500		525
Pattern Energy Operations LP / Pattern Energy Operations, Inc., 4.50%, 08/15/2028 (e)		462		430
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, (Indonesia),
Reg. S, 4.00%, 06/30/2050		3,000		2,231
Reg. S, 4.13%, 05/15/2027		1,400		1,349
Reg. S, 5.25%, 10/24/2042		1,400		1,289
PG&E Corp., 5.25%, 07/01/2030		926		881
Pike Corp., 8.63%, 01/31/2031 (e)		402		427
Public Service Enterprise Group, Inc., 5.85%, 11/15/2027		123		126
Puget Energy, Inc., 3.65%, 05/15/2025		300		293
ReNew Wind Energy AP2 / ReNew Power Pvt Ltd. other 9 Subsidiaries, (India), Reg. S, 4.50%, 07/14/2028		8,800		8,057

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
SMC Global Power Holdings Corp., (Philippines), Reg. S, (CMT Index 5 Year + 9.20%), 7.00%, 10/21/2025 (x) (aa)		10,150		9,778
Star Energy Geothermal Wayang Windu Ltd., (British Virgin Islands), Reg. S, 6.75%, 04/24/2033		4,703		4,719
System Energy Resources, Inc., 6.00%, 04/15/2028		832		849
Talen Energy Supply LLC, 8.63%, 06/01/2030 (e)		606		648
TransAlta Corp., (Canada), 7.75%, 11/15/2029		772		802
Vistra Corp.,
(CMT Index 5 Year + 5.74%), 7.00%, 12/15/2026 (e) (x) (aa)		6,222		6,160
(CMT Index 5 Year + 6.93%), 8.00%, 10/15/2026 (e) (x) (aa)		1,975		2,018
Vistra Operations Co. LLC,
3.55%, 07/15/2024 (e)		2,775		2,755
3.70%, 01/30/2027 (e)		279		265
4.38%, 05/01/2029 (e)		8,750		8,106
4.88%, 05/13/2024 (e)		495		494
5.00%, 07/31/2027 (e)		4,240		4,106
5.50%, 09/01/2026 (e)		835		822
5.63%, 02/15/2027 (e)		2,403		2,366
6.95%, 10/15/2033 (e)		961		1,026
7.75%, 10/15/2031 (e)		1,839		1,926
WEC Energy Group, Inc., 5.60%, 09/12/2026		125		126
				256,334
Gas — 0.1%
AmeriGas Partners LP / AmeriGas Finance Corp.,
5.50%, 05/20/2025		1,280		1,281
5.88%, 08/20/2026		1,125		1,123
9.38%, 06/01/2028 (e)		1,344		1,392
Brooklyn Union Gas Co. (The), 4.63%, 08/05/2027 (e)		696		676
China Oil & Gas Group Ltd., (Bermuda), Reg. S, 4.70%, 06/30/2026		200		170
National Fuel Gas Co.,
5.50%, 01/15/2026		289		289
5.50%, 10/01/2026		679		679
NiSource, Inc., 5.25%, 03/30/2028		47		47
Southwest Gas Corp., 5.45%, 03/23/2028		100		102
Spire, Inc., 5.30%, 03/01/2026		958		957
UGI International LLC, Reg. S, 2.50%, 12/01/2029	EUR	100		97
				6,813
Water — 0.2%
Thames Water Utilities Finance plc, (United Kingdom), Reg. S, 4.00%, 04/18/2027	EUR	100		102
Veolia Environnement SA, (France),
Reg. S, (EUR Swap Rate 5 Year + 2.84%), 2.50%, 01/20/2029 (x) (aa)	EUR	8,000		7,750
Reg. S, (EUR Swap Rate 5 Year + 2.82%), 5.99%, 11/22/2028 (x) (aa)	EUR	7,600		8,568
				16,420
Total Utilities				279,567
Total Corporate Bonds (Cost $5,736,952)				5,746,542
Foreign Government Securities — 8.4%
Abu Dhabi Government International Bond, (United Arab Emirates), Reg. S, 3.88%, 04/16/2050		2,000		1,595

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Angolan Government International Bond, (Angola),
Reg. S, 8.00%, 11/26/2029		7,700		7,161
Reg. S, 9.38%, 05/08/2048		3,800		3,272
Reg. S, 9.50%, 11/12/2025		3,200		3,249
Argentine Republic Government International Bond, (Argentina), SUB, 3.50%, 07/09/2041		29,100		11,733
Bahrain Government International Bond, (Bahrain),
Reg. S, 4.25%, 01/25/2028		7,700		7,172
Reg. S, 5.63%, 09/30/2031		3,000		2,824
Bank Gospodarstwa Krajowego, (Poland), Reg. S, 6.25%, 10/31/2028		5,600		5,824
Benin Government International Bond, (Benin), Reg. S, 7.96%, 02/13/2038		2,000		1,945
Brazilian Government International Bond, (Brazil),
4.75%, 01/14/2050		800		598
6.13%, 03/15/2034		2,750		2,720
7.13%, 05/13/2054		5,850		5,888
Bulgaria Government International Bond, (Bulgaria), Reg. S, 4.88%, 05/13/2036	EUR	1,200		1,405
Chile Government International Bond, (Chile),
4.85%, 01/22/2029		15,800		15,696
4.95%, 01/05/2036		2,700		2,611
5.33%, 01/05/2054		1,400		1,344
Colombia Government International Bond, (Colombia),
3.88%, 04/25/2027		2,300		2,165
5.00%, 06/15/2045		4,700		3,400
5.63%, 02/26/2044		8,100		6,432
7.50%, 02/02/2034		5,300		5,406
Costa Rica Government International Bond, (Costa Rica),
Reg. S, 5.63%, 04/30/2043		2,700		2,434
Reg. S, 7.30%, 11/13/2054		2,100		2,228
Dominican Republic International Bond, (Dominican Republic),
Reg. S, 4.50%, 01/30/2030		600		546
Reg. S, 5.50%, 01/27/2025		6,500		6,451
Reg. S, 5.95%, 01/25/2027		5,000		4,974
Reg. S, 6.00%, 02/22/2033		10,700		10,384
Reg. S, 6.85%, 01/27/2045		4,100		4,058
Reg. S, 6.88%, 01/29/2026		1,900		1,917
Ecuador Government International Bond, (Ecuador),
Reg. S, SUB, 2.50%, 07/31/2040		7,600		3,685
Reg. S, SUB, 3.50%, 07/31/2035		8,500		4,461
Reg. S, SUB, 6.00%, 07/31/2030		4,630		3,137
Egypt Government International Bond, (Egypt),
Reg. S, 3.88%, 02/16/2026		2,600		2,389
Reg. S, 4.75%, 04/16/2026	EUR	9,200		9,305
Reg. S, 5.75%, 05/29/2024		2,000		1,991
Reg. S, 5.88%, 02/16/2031		3,000		2,396
Reg. S, 6.38%, 04/11/2031	EUR	9,600		8,561
Reg. S, 7.50%, 02/16/2061		2,000		1,434
El Salvador Government International Bond, (El Salvador),
Reg. S, 5.88%, 01/30/2025		200		191
Reg. S, 6.38%, 01/18/2027		400		347
Reg. S, 7.12%, 01/20/2050		2,500		1,713
Reg. S, 7.63%, 09/21/2034		4,500		3,293

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Finance Department Government of Sharjah, (United Arab Emirates), Reg. S, 4.00%, 07/28/2050		2,000		1,314
Gabon Government International Bond, (Gabon), Reg. S, 6.63%, 02/06/2031		1,000		851
Ghana Government International Bond, (Ghana), Reg. S, 10.75%, 10/14/2030		15,200		10,293
Guatemala Government Bond, (Guatemala),
Reg. S, 4.38%, 06/05/2027		7,700		7,372
Reg. S, 5.38%, 04/24/2032		3,000		2,878
Reg. S, 6.60%, 06/13/2036		3,200		3,266
Hungary Government International Bond, (Hungary),
Reg. S, 5.25%, 06/16/2029		3,800		3,754
Reg. S, 5.50%, 03/26/2036		2,700		2,619
Reg. S, 6.75%, 09/25/2052		3,200		3,429
7.63%, 03/29/2041		2,200		2,539
Indonesia Government International Bond, (Indonesia),
Reg. S, 4.75%, 07/18/2047		1,400		1,310
Reg. S, 6.63%, 02/17/2037		2,400		2,709
Iraq International Bond, (Iraq), Reg. S, 5.80%, 01/15/2028		800		753
Israel Government International Bond, (Israel),
5.38%, 03/12/2029		1,200		1,203
5.50%, 03/12/2034		2,400		2,370
5.75%, 03/12/2054		3,100		2,970
Ivory Coast Government International Bond, (Ivory Coast),
Reg. S, 4.88%, 01/30/2032	EUR	1,600		1,484
Reg. S, 5.25%, 03/22/2030	EUR	3,700		3,710
Reg. S, SUB, 5.75%, 12/31/2032		221		210
Reg. S, 6.88%, 10/17/2040	EUR	3,700		3,447
Reg. S, 8.25%, 01/30/2037		700		701
Jordan Government International Bond, (Jordan),
Reg. S, 5.75%, 01/31/2027		4,400		4,246
Reg. S, 7.38%, 10/10/2047		600		528
Korea National Oil Corp., (South Korea),
Reg. S, 4.88%, 04/03/2028		4,100		4,077
4.88%, 04/03/2029 (e) (w)		1,500		1,490
KSA Sukuk Ltd., (Cayman Islands), Reg. S, 5.27%, 10/25/2028		3,300		3,362
Magyar Export-Import Bank Zrt, (Hungary), Reg. S, 6.13%, 12/04/2027		3,800		3,819
Mexican Udibonos, (Mexico), Series S, 4.00%, 08/24/2034	MXN	21,107		1,144
Mexico Government International Bond, (Mexico),
5.00%, 05/07/2029		3,300		3,253
5.75%, 10/12/2110		1,900		1,654
6.00%, 05/07/2036		1,000		1,001
6.40%, 05/07/2054		1,300		1,296
MFB Magyar Fejlesztesi Bank Zrt, (Hungary), Reg. S, 6.50%, 06/29/2028		5,400		5,482
Mongolia Government International Bond, (Mongolia),
Reg. S, 3.50%, 07/07/2027		2,000		1,798
Reg. S, 4.45%, 07/07/2031		5,100		4,313
Reg. S, 5.13%, 04/07/2026		4,400		4,241
7.88%, 06/05/2029 (e)		1,000		1,030
Reg. S, 7.88%, 06/05/2029		1,600		1,649
8.65%, 01/19/2028 (e)		4,200		4,423
Reg. S, 8.65%, 01/19/2028		1,400		1,474
Montenegro Government International Bond, (Montenegro), 7.25%, 03/12/2031 (e)		2,500		2,543

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Morocco Government International Bond, (Morocco), Reg. S, 5.50%, 12/11/2042		2,700		2,369
National Bank of Uzbekistan, (Uzbekistan), Reg. S, 4.85%, 10/21/2025		500		482
Nigeria Government International Bond, (Nigeria),
Reg. S, 7.38%, 09/28/2033		8,200		7,006
Reg. S, 7.63%, 11/21/2025		200		199
Reg. S, 8.38%, 03/24/2029		7,200		7,008
North Macedonia Government International Bond, (North Macedonia), Reg. S, 6.96%, 03/13/2027	EUR	2,700		3,044
Oman Government International Bond, (Oman),
Reg. S, 6.25%, 01/25/2031		13,300		13,742
Reg. S, 6.75%, 01/17/2048		3,200		3,272
Pakistan Global Sukuk Programme Co. Ltd. (The), (Pakistan), Reg. S, 7.95%, 01/31/2029		500		434
Pakistan Government International Bond, (Pakistan),
Reg. S, 6.00%, 04/08/2026		11,500		10,262
Reg. S, 6.88%, 12/05/2027		22,800		19,391
Reg. S, 7.38%, 04/08/2031		11,050		8,668
Reg. S, 8.25%, 04/15/2024		4,500		4,461
Reg. S, 8.25%, 09/30/2025		3,000		2,816
Reg. S, 8.88%, 04/08/2051		6,900		5,180
Panama Government International Bond, (Panama),
3.16%, 01/23/2030		800		671
3.75%, 03/16/2025		10,000		9,772
4.50%, 04/01/2056		10,800		7,193
6.85%, 03/28/2054		1,300		1,199
7.50%, 03/01/2031		1,300		1,360
7.88%, 03/01/2057		900		925
8.00%, 03/01/2038		700		744
8.88%, 09/30/2027		16,400		17,811
Paraguay Government International Bond, (Paraguay),
Reg. S, 5.40%, 03/30/2050		2,100		1,845
Reg. S, 5.85%, 08/21/2033		4,400		4,399
6.00%, 02/09/2036 (e)		400		405
7.90%, 02/09/2031 (e)	PYG	9,789,000		1,368
Peruvian Government International Bond, (Peru),
3.23%, 07/28/2121		3,100		1,772
3.60%, 01/15/2072		4,200		2,777
6.55%, 03/14/2037		8,300		8,982
Philippine Government International Bond, (Philippines),
2.95%, 05/05/2045		2,400		1,671
3.70%, 03/01/2041		2,500		2,057
6.38%, 10/23/2034		1,200		1,322
Qatar Government International Bond, (Qatar),
Reg. S, 4.82%, 03/14/2049		2,000		1,872
Reg. S, 5.10%, 04/23/2048		5,200		5,051
Reg. S, 6.40%, 01/20/2040		2,100		2,372
Republic of Armenia International Bond, (Armenia),
Reg. S, 3.60%, 02/02/2031		1,500		1,215
Reg. S, 3.95%, 09/26/2029		1,600		1,384
Republic of Cameroon International Bond, (Cameroon),
Reg. S, 5.95%, 07/07/2032	EUR	1,900		1,581
Reg. S, 9.50%, 11/19/2025		533		521

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Kenya Government International Bond, (Kenya),
Reg. S, 7.00%, 05/22/2027		4,700		4,572
Reg. S, 7.25%, 02/28/2028		3,400		3,239
Reg. S, 8.00%, 05/22/2032		1,600		1,496
9.75%, 02/16/2031 (e)		2,800		2,865
Republic of Poland Government International Bond, (Poland), 5.50%, 04/04/2053		6,700		6,673
Republic of South Africa Government International Bond, (South Africa),
4.85%, 09/30/2029		5,000		4,479
5.75%, 09/30/2049		1,600		1,158
7.30%, 04/20/2052		4,100		3,545
Republic of Uzbekistan International Bond, (Uzbekistan), Reg. S, 3.90%, 10/19/2031		2,500		2,060
Romanian Government International Bond, (Romania),
Reg. S, 2.12%, 07/16/2031	EUR	2,300		2,024
Reg. S, 2.13%, 03/07/2028	EUR	4,800		4,754
Reg. S, 2.63%, 12/02/2040	EUR	3,900		2,866
5.88%, 01/30/2029 (e)		2,224		2,222
Reg. S, 5.88%, 01/30/2029		400		399
Reg. S, 6.13%, 01/22/2044		800		780
Reg. S, 6.38%, 09/18/2033	EUR	2,800		3,229
Reg. S, 6.38%, 01/30/2034		1,300		1,317
6.38%, 01/30/2034 (e)		1,800		1,824
Reg. S, 6.63%, 02/17/2028		1,800		1,854
Saudi Government International Bond, (Saudi Arabia),
Reg. S, 3.25%, 10/22/2030		5,500		4,988
Reg. S, 3.45%, 02/02/2061		5,700		3,783
Reg. S, 3.75%, 01/21/2055		6,000		4,320
Reg. S, 4.38%, 04/16/2029		6,100		5,974
Reg. S, 5.00%, 01/16/2034		3,100		3,080
Reg. S, 5.75%, 01/16/2054		1,800		1,778
Senegal Government International Bond, (Senegal),
Reg. S, 4.75%, 03/13/2028	EUR	900		873
Reg. S, 5.38%, 06/08/2037	EUR	4,200		3,286
Reg. S, 6.25%, 05/23/2033		1,400		1,190
Serbia International Bond, (Serbia),
Reg. S, 2.05%, 09/23/2036	EUR	4,000		3,015
Reg. S, 6.25%, 05/26/2028		4,000		4,077
Reg. S, 6.50%, 09/26/2033		1,000		1,019
Slovenia Government International Bond, (Slovenia), Reg. S, 5.00%, 09/19/2033		2,000		2,003
Sri Lanka Government International Bond, (Sri Lanka),
Reg. S, 5.75%, 04/18/2023 (d)		2,600		1,527
6.20%, 05/11/2027 (d) (e)		15,600		9,164
Reg. S, 6.20%, 05/11/2027 (d)		3,800		2,232
Reg. S, 6.75%, 04/18/2028 (d)		8,700		5,111
Reg. S, 6.85%, 03/14/2024 (d)		15,640		9,189
Reg. S, 6.85%, 11/03/2025 (d)		11,100		6,604
Reg. S, 7.55%, 03/28/2030 (d)		2,000		1,170
Reg. S, 7.85%, 03/14/2029 (d)		4,800		2,820

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Trinidad & Tobago Government International Bond, (Trinidad and Tobago),
5.95%, 01/14/2031 (e)		1,200		1,203
Reg. S, 5.95%, 01/14/2031		200		201
Tunisian Republic, (Tunisia), Reg. S, 5.75%, 01/30/2025		1,100		1,036
Turkiye Government International Bond, (Turkey),
5.75%, 05/11/2047		4,800		3,639
6.88%, 03/17/2036		7,000		6,590
7.63%, 05/15/2034		6,900		6,911
9.38%, 03/14/2029		3,200		3,477
Turkiye Ihracat Kredi Bankasi A/S, (Turkey), 7.50%, 02/06/2028 (e)		1,000		1,003
Uruguay Government International Bond, (Uruguay),
5.10%, 06/18/2050		3,600		3,484
5.75%, 10/28/2034		2,900		3,058
Uzbekneftegaz JSC, (Uzbekistan), Reg. S, 4.75%, 11/16/2028		2,500		2,092
Vietnam Government International Bond, (Vietnam), Series 30YR, 5.50%, 03/12/2028		216		206
Total Foreign Government Securities (Cost $583,923)				610,402
U.S. Treasury Obligations — 2.5%
U.S. Treasury Inflation Indexed Notes,
0.13%, 04/15/2025		836		815
0.25%, 01/15/2025		1,045		1,027
0.50%, 04/15/2024		935		936
U.S. Treasury Notes,
2.50%, 05/31/2024 (ee)		26,140		26,020
2.75%, 04/30/2027 (ff)		740		705
3.50%, 02/15/2033		8,000		7,583
3.75%, 12/31/2028 (ee)		5,300		5,190
4.25%, 01/31/2026		83,222		82,582
4.25%, 02/28/2031		26,850		26,917
4.88%, 11/30/2025		6,937		6,948
5.00%, 09/30/2025		4,026		4,036
5.00%, 10/31/2025		19,500		19,558
Total U.S. Treasury Obligations (Cost $182,953)				182,317
	SHARES
Common Stocks — 0.1%
Basic Materials — 0.0% (g)
Chemicals — 0.0% (g)
Venator Materials plc, (United Kingdom) (a)		4		3,087
Communications — 0.1%
Telecommunications — 0.1%
Digicel Holdings Bermuda Ltd., (Jamaica) (a) (e) (f) (bb) (cc)		856		1,541
Intelsat SA, (Luxembourg) (a) (e) (f)		87		2,256
Total Communications				3,797
Financial — 0.0% (g)
Real Estate — 0.0% (g)
Sunac Services Holdings Ltd., (China), Reg. S (e)		5,839		1,390
Utilities — 0.0% (g)

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 — 0.0% (g)
Heritage Power LLC, (a) (f) (bb) (cc)		47		296
Total Common Stocks (Cost $12,232)				8,570
Preferred Stocks — 0.1%
Communications — 0.0% (g)
Telecommunications — 0.0% (g)
Digicel Holdings Bermuda Ltd., expiring, (Jamaica) (a) (e) (f) (bb) (cc)		221		2,255
Consumer Cyclical — 0.1%
Retail — 0.1%
Ferrellgas Escrow LLC, expiring, 03/30/2031 (a) (e) (f) (bb) (cc)		6		6,467
Total Preferred Stocks (Cost $8,342)				8,722
	PRINCIPAL AMOUNT ($)
Loan Assignments — 3.1% (o)
Basic Materials — 0.1%
Chemicals — 0.1%
Consolidated Energy Finance S.A., 2024 Incremental Term Loan, (Luxembourg), (CME Term SOFR 1 Month + 4.50%), 9.83%, 11/15/2030 (u) (aa)		3,000		2,894
Discovery Purchaser Corp., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 4.38%), 9.71%, 10/04/2029 (aa)		3,222		3,217
Herens Holdco S.a r.l., Facility B (USD), (Luxembourg), (CME Term SOFR 3 Month + 3.93%), 9.33%, 07/03/2028 (aa)		613		576
Venator Materials LLC, First-Out Term Loan, (CME Term SOFR 3 Month + 10.00%), 15.31%, 01/16/2026 (e) (f) (aa)		483		483
Venator Materials LLC, Initial Term Loan, (CME Term SOFR 3 Month + 2.00%), 7.33%, 10/12/2028 (aa)		1,215		1,199
Total Basic Materials				8,369
Communications — 0.6%
Advertising — 0.1%
Clear Channel Outdoor Holdings, Inc., Term B Loan, (CME Term SOFR 3 Month + 3.50%), 9.09%, 08/21/2026		2,841		2,837
Internet — 0.1%
CNT Holdings I Corp., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 3.50%), 8.82%, 11/08/2027 (aa)		1,188		1,189
Gen Digital, Inc., Initial Tranche A Term Loan, (CME Term SOFR OPEN Month + 0.00%), 0.00%, 09/10/2027 (u)		987		983
MH Sub I LLC, 2021 Replacement Term Loan (Second Lien), (CME Term SOFR 1 Month + 6.25%), 11.58%, 02/23/2029 (aa)		758		727
MH Sub I LLC, 2023 May Incremental Term Loan (First Lien), (CME Term SOFR 1 Month + 4.25%), 9.58%, 05/03/2028 (aa)		4,065		4,037
Proofpoint, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.25%), 0.00%, 08/31/2028 (u) (aa)		950		950
				7,886
Media — 0.2%
Charter Communications Operating LLC, Term B-2 Loan, (CME Term SOFR 3 Month + 1.75%), 7.08%, 02/01/2027 (aa)		1,396		1,396
CSC Holdings LLC, 2022 Refinancing Term Loan, (CME Term SOFR 1 Month + 4.50%), 9.83%, 01/18/2028 (aa)		3,000		2,881
Diamond Sports Group LLC, DIP Term Loan, 5.00%, 12/02/2024		1,977		3,220

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 1 Month + 0.00%), 0.00%, 05/25/2026 (u) (aa)		411		391
Diamond Sports Group LLC, Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.25%), 10.68%, 08/24/2026 (aa)		4,720		127
DIRECTV Financing LLC, 2024 Refinancing Term B Loan, (CME Term SOFR 1 Month + 5.25%), 10.69%, 08/02/2029 (u) (aa)		2,310		2,306
DIRECTV Financing LLC, Closing Date Term Loan, (CME Term SOFR 1 Month + 5.00%), 10.44%, 08/02/2027 (u) (aa)		211		211
Radiate Holdco LLC, Amendment No. 6 Term B Loan, (CME Term SOFR 1 Month + 3.25%), 8.69%, 09/25/2026 (aa)		1,289		1,075
Virgin Media Bristol LLC, N Facility, (CME Term SOFR 1 Month + 2.50%), 7.94%, 01/31/2028 (aa)		917		902
				12,509
Telecommunications — 0.2%
Connect Finco Sarl, Term Loan B, (Luxembourg), (CME Term SOFR 3 Month + 4.25%), 0.00%, 09/13/2029 (u) (aa)		557		547
Digicel International Finance Limited, Initial Term Loan (First Lien), (Saint Lucia), (CME Term SOFR 3 Month + 6.75%), 12.06%, 05/25/2027 (aa)		1,645		1,587
Level 3 Financing, Inc., (CME Term SOFR 3 Month + 6.56%), 11.89%, 04/15/2030 (aa)		1,664		1,652
Level 3 Financing, Inc., Term B-1, (CME Term SOFR 3 Month + 6.56%), 11.89%, 04/15/2029 (aa)		1,652		1,640
Lumen Technologies, Inc., Cov-Lite Term Loan, (CME Term SOFR 3 Month + 6.00%), 0.00%, 06/01/2028 (u) (aa)		363		305
Lumen Technologies, Inc., Term B-1 Loan, (CME Term SOFR 1 Month + 2.35%), 7.79%, 04/15/2029 (aa)		13		9
Lumen Technologies, Inc., Term B-2 Loan, (CME Term SOFR 1 Month + 2.35%), 7.79%, 04/15/2030 (aa)		13		10
Odido Holding BV, Facility B Loan, (Netherlands), (EURIBOR 3 Month + 3.80%), 7.70%, 03/30/2029 (aa)	EUR	6,910		7,431
ViaSat, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 4.50%), 9.93%, 05/30/2030 (aa)		868		841
Xplore, Inc., Initial Term Loan (Second Lien), (Canada), (CME Term SOFR 3 Month + 7.00%), 12.61%, 10/01/2029 (aa)		1,300		260
Xplore, Inc., Refinancing Term Loan (First Lien), (Canada), (CME Term SOFR 3 Month + 4.00%), 9.57%, 10/02/2028 (aa)		3,232		1,463
Zayo Group Holdings, Inc., Initial Dollar Term Loan, (CME Term SOFR 1 Month + 3.00%), 8.44%, 03/09/2027 (aa)		37		32
				15,777
Total Communications				39,009
Consumer Cyclical — 0.2%
Airlines — 0.0% (g)
AAdvantage Loyalty IP Ltd., Initial Term Loan, (Cayman Islands), (CME Term SOFR 3 Month + 4.75%), 10.33%, 04/20/2028 (aa)		1,725		1,789
Mileage Plus Holdings LLC, Initial Term Loan, (CME Term SOFR 3 Month + 5.25%), 10.73%, 06/21/2027 (aa)		49		50
				1,839
Auto Parts & Equipment — 0.0% (g)
Tenneco, Inc., Term A Loan (First Lien), (CME Term SOFR 3 Month + 4.75%), 10.17%, 11/17/2028 (aa)		893		834

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Auto Parts & Equipment — continued
Tenneco, Inc., Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.75%), 10.17%, 11/17/2028 (aa)		584		549
				1,383
Commercial Services — 0.0% (g)
OMNIA Partners LLC, Initial Term Loan (2024), (CME Term SOFR 3 Month + 3.75%), 9.07%, 07/25/2030 (u) (aa)		8		8
Cosmetics/Personal Care — 0.0% (g)
KDC/ONE Development Corp., Inc., Dollar Tranche Term Loan, (Canada), (CME Term SOFR 1 Month + 5.00%), 10.33%, 08/15/2028 (aa)		838		839
Distribution/Wholesale — 0.1%
BCPE Empire Holdings, Inc., Amendment No. 5 Refinancing Term Loan (First Lien), (CME Term SOFR 1 Month + 4.00%), 0.00%, 12/11/2028 (u) (aa)		744		744
Parts Europe, Facility B, (France), (EURIBOR 6 Month + 0.00%), 0.00%, 02/03/2031	EUR	3,000		3,228
				3,972
Entertainment — 0.0% (g)
Motion Acquisition Limited, Facility B (USD) Loan, (United Kingdom), (CME Term SOFR 1 Month + 3.50%), 0.00%, 11/12/2029 (u) (aa)		1,055		1,053
Lodging — 0.0% (g)
Resorts World Las Vegas LLC, Term A Facility Loan, (CME Term SOFR 1 Month + 1.50%), 6.83%, 04/16/2024 (aa)		500		499
Wyndham Hotels & Resorts, Inc., 2022 Term A Loan, (CME Term SOFR 1 Month + 1.75%), 7.18%, 04/08/2027 (aa)		292		291
				790
Retail — 0.1%
Carrols Restaurant Group, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.25%), 8.68%, 04/30/2026 (aa)		650		650
Foundation Building Materials, Inc., 2024 Incremental Term Loan, (CME Term SOFR 3 Month + 4.00%), 9.31%, 01/29/2031 (aa)		502		504
Great Outdoors Group LLC, Term B-2 Loan, (CME Term SOFR 1 Month + 3.75%), 9.19%, 03/06/2028 (aa)		2,450		2,449
Pilot Travel Centers LLC, open, (EURIBOR 6 Month + 0.00%), 0.00%, 01/01/2500 (u)		117		117
SRS Distribution, Inc., 2021 Refinancing Term Loan, (CME Term SOFR OPEN Month + 0.00%), 0.00%, 06/02/2028 (u)		357		359
White Cap Supply Holdings LLC, Initial Closing Date Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.08%, 10/19/2027 (aa)		318		319
				4,398
Total Consumer Cyclical				14,282
Consumer Non-cyclical — 0.5%
Beverages — 0.0% (g)
Naked Juice LLC, Initial Loan (Second Lien), (CME Term SOFR 3 Month + 6.00%), 11.40%, 01/24/2030 (aa)		111		90
Naked Juice LLC, Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 3.25%), 8.66%, 01/24/2029 (aa)		800		746
				836
Biotechnology — 0.1%
Cooper Consumer Health, Incremental Facility B2, (France), (EURIBOR 6 Month + 0.00%), 0.00%, 11/06/2028	EUR	3,775		4,060

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Commercial Services — 0.2%
CoreLogic, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.94%, 06/02/2028 (aa)		747		728
Groundworks LLC, Delayed Draw Term Loan, (CME Term SOFR 1 Month + 3.50%), 0.00%, 03/14/2031 (u) (aa)		149		149
Groundworks LLC, Initial Term Loan, (CME Term SOFR 1 Month + 3.50%), 0.00%, 03/14/2031 (u) (aa)		809		808
PECF USS Intermediate Holding III Corp., Initial Term Loan, (CME Term SOFR 3 Month + 4.25%), 9.82%, 12/15/2028 (aa)		426		323
PG Investment Co. 59 S.a r.l., Term Loan B, (Luxembourg), (CME Term SOFR 3 Month + 3.50%), 0.00%, 02/24/2031 (u) (aa)		1,664		1,666
Sabre GLBL, Inc., 2021 Other Term B-1 Loan, (CME Term SOFR 1 Month + 3.50%), 8.94%, 12/17/2027 (aa)		250		211
Sabre GLBL, Inc., 2021 Other Term B-2 Loan, (CME Term SOFR 1 Month + 3.50%), 8.94%, 12/17/2027 (aa)		395		333
Verscend Holding Corp., Term B-1 Loan, (CME Term SOFR 1 Month + 4.00%), 9.44%, 08/27/2025 (aa)		4,147		4,147
Wand Newco 3, Inc., 2024 Refinancing Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.08%, 01/30/2031 (aa)		4,646		4,657
				13,022
Food — 0.0% (g)
Froneri International Limited, Facility B1 (First Lien), (United Kingdom), (EURIBOR 6 Month + 2.13%), 5.99%, 01/29/2027 (aa)	EUR	1,840		1,967
US Foods, Inc., Incremental B-2019 Term Loan, (CME Term SOFR 1 Month + 2.00%), 7.44%, 09/13/2026 (aa)		224		224
				2,191
Healthcare—Products — 0.0% (g)
Bausch + Lomb Corp., Initial Term Loan, (Canada), (CME Term SOFR 1 Month + 3.25%), 8.68%, 05/10/2027 (aa)		4,193		4,139
Healthcare—Services — 0.1%
DaVita, Inc., Tranche B-1 Term Loan, (CME Term SOFR 1 Month + 1.75%), 7.19%, 08/12/2026 (u) (aa)		736		736
Cidron Atrium SE, Facility B1 (First Lien), (Germany), (EURIBOR 6 Month + 0.00%), 0.00%, 05/22/2028	EUR	2,000		2,081
LifePoint Health, Inc., 2023 Refinancing Term Loan, (CME Term SOFR 3 Month + 5.50%), 11.09%, 11/16/2028 (aa)		555		556
Parexel International, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.25%), 8.69%, 11/15/2028 (aa)		543		544
Quorum Health Corp., Term Loan (Exit), (CME Term SOFR 3 Month + 8.25%), 13.68%, 04/29/2025 (aa)		618		371
Star Parent, Inc., Term Loan, (CME Term SOFR 3 Month + 4.00%), 9.31%, 09/27/2030 (aa)		1,686		1,675
Surgery Center Holdings, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.83%, 12/19/2030 (aa)		449		451
				6,414
Pharmaceuticals — 0.1%
Elanco Animal Health Incorporated, (CME Term SOFR 1 Month + 1.75%), 7.18%, 08/01/2027 (aa)		426		424
Gainwell Acquisition Corp., Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.00%), 9.41%, 10/01/2027 (aa)		3,062		2,922

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Pharmaceuticals — continued
Nidda Healthcare Holding GmbH, Facility F (EUR), (Germany), (EURIBOR 3 Month + 3.50%), 7.45%, 08/21/2026 (aa)	EUR	1,500		1,606
				4,952
Total Consumer Non-cyclical				35,614
Diversified — 0.0% (g)
Holding Companies—Diversified — 0.0% (g)
GN Loanco LLC, Term B Loan, (CME Term SOFR 1 Month + 4.50%), 9.83%, 12/19/2030 (aa)		1,753		1,726
Energy — 0.1%
Pipelines — 0.1%
Buckeye Partners, L.P., 2024 Tranche B-3 Term Loan, (CME Term SOFR 1 Month + 2.00%), 7.33%, 11/01/2026 (u) (aa)		587		588
NGL Energy Operating LLC, Initial Term Loan, (CME Term SOFR 1 Month + 4.50%), 9.83%, 02/03/2031 (aa)		1,011		1,013
New Fortress Energy, Inc., Initial Term Loan, (CME Term SOFR 3 Month + 5.00%), 10.32%, 10/30/2028 (u) (aa)		4,485		4,496
				6,097
Financial — 0.3%
Diversified Financial Services — 0.1%
Avolon TLB Borrower 1, Term B-6 Loan, (CME Term SOFR 1 Month + 2.00%), 7.33%, 06/22/2028 (aa)		600		600
Deerfield Dakota Holding LLC, 2021 Replacement Term Loan (Second Lien), (CME Term SOFR 3 Month + 6.75%), 12.32%, 04/07/2028 (aa)		763		760
Deerfield Dakota Holding LLC, Initial Dollar Term Loan (First Lien), (CME Term SOFR 3 Month + 3.75%), 9.06%, 04/09/2027 (aa)		1,011		1,006
FleetCor Technologies Operating Co. LLC, Term B-4 Loan, (CME Term SOFR 1 Month + 1.75%), 7.18%, 04/28/2028 (u) (aa)		947		946
Jane Street Group LLC, 2024 Repricing Term Loan, (CME Term SOFR 1 Month + 2.50%), 7.94%, 01/26/2028 (aa)		700		700
LPL Holdings, Inc., Tranche B-1 Term Loan, (CME Term SOFR 1 Month + 1.75%), 7.18%, 11/12/2026 (aa)		223		223
NFP Corp., (CME Term SOFR 1 Month + 3.25%), 8.69%, 02/16/2027 (aa)		424		424
Osaic Holdings, Inc., Term B-2 Loan, (CME Term SOFR 1 Month + 4.50%), 9.83%, 08/17/2028 (u) (aa)		1		1
Setanta Aircraft Leasing DAC, Loan, (Ireland), (CME Term SOFR 3 Month + 2.00%), 7.61%, 11/05/2028 (aa)		237		238
				4,898
Insurance — 0.2%
Acrisure LLC, 2021-1 Additional Term Loan (First Lien), (Syn LIBOR 1 Month + 3.75%), 9.19%, 02/15/2027 (aa)		970		969
Alliant Holdings Intermediate LLC, TLB-6 New Term Loan, (CME Term SOFR 1 Month + 3.50%), 8.83%, 11/06/2030 (aa)		173		174
Asurion LLC, New B-4 Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.25%), 10.69%, 01/20/2029 (aa)		1,475		1,314
Truist Insurance Holdings LLC, Term Loan (Second Lien), (CME Term SOFR 3 Month + 5.00%), 0.00%, 03/08/2032 (u) (aa)		8,000		8,040
Truist Insurance Holdings LLC, Term Loan B, (CME Term SOFR 3 Month + 3.25%), 0.00%, 03/24/2031 (u) (aa)		3,340		3,334
				13,831

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Investment Companies — 0.0% (g)
WEC US Holdings Ltd., Initial Term Loan, (CME Term SOFR 1 Month + 2.75%), 8.08%, 01/27/2031 (aa)		794		793
REITS — 0.0% (g)
Invitation Homes Operating Partnership LP, Term Loan A, (CME Term SOFR 1 Month + 1.00%), 6.43%, 01/31/2025 (aa)		837		827
Total Financial				20,349
Industrial — 0.4%
Aerospace/Defense — 0.0% (g)
Dynasty Acquisition Co., Inc., 2024 Specified Refinancing Term B-1 Loan, (CME Term SOFR 3 Month + 3.50%), 0.00%, 08/24/2028 (u) (aa)		556		557
Dynasty Acquisition Co., Inc., 2024 Specified Refinancing Term B-2 Loan, (CME Term SOFR 1 Month + 3.50%), 0.00%, 08/24/2028 (u) (aa)		214		214
Kaman Corp., Term Loan, (CME Term SOFR 3 Month + 4.00%), 0.00%, 03/27/2031 (u) (aa)		824		824
				1,595
Building Materials — 0.0% (g)
Chariot Buyer LLC, Amendment No. 2 Term Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.08%, 11/03/2028 (aa)		900		901
Electronics — 0.0% (g)
Indicor LLC, Tranche B Dollar Term Loan (First Lien), (CME Term SOFR 3 Month + 4.00%), 9.30%, 11/22/2029 (aa)		237		238
Engineering & Construction — 0.1%
Apple Bidco LLC, Amendment No. 3 Term Loan (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.83%, 09/22/2028 (aa)		455		456
Brand Industrial Services, Inc., Tranche B Term Loan, (CME Term SOFR 3 Month + 5.50%), 10.81%, 08/01/2030 (u) (aa)		5,001		5,018
Brown Group Holding LLC, Incremental Term B-2 Facility, (CME Term SOFR 3 Month + 3.00%), 8.32%, 07/02/2029 (aa)		377		377
Chromalloy Corp., Term Loan, (CME Term SOFR 3 Month + 3.75%), 0.00%, 03/21/2031 (u) (aa)		1,949		1,941
				7,792
Machinery—Diversified — 0.2%
CD&R Hydra Buyer, Inc., First Refinancing Term Loan, (CME Term SOFR 3 Month + 4.00%), 0.00%, 03/25/2031 (u) (aa)		1,435		1,438
Husky Injection Molding Systems Ltd., Initial Term Loan, (Canada), (CME Term SOFR 1 Month + 3.00%), 8.44%, 03/28/2025 (aa)		5,070		5,063
Husky Injection Molding Systems Ltd., Term Loan B, (Canada), (CME Term SOFR 3 Month + 5.25%), 0.00%, 02/01/2029 (u) (aa)		1,539		1,542
SPX Flow, Inc., Term Loan, (CME Term SOFR 1 Month + 4.50%), 9.93%, 04/05/2029 (aa)		1,527		1,533
TK Elevator Midco GmbH, Facility B2 (USD), (Germany), (CME Term SOFR 3 Month + 3.50%), 0.00%, 04/30/2030 (u) (aa)		5,399		5,415
				14,991
Packaging & Containers — 0.1% (g)
Berry Global, Inc., Term AA Loan, (CME Term SOFR 1 Month + 1.75%), 7.18%, 07/01/2029 (aa)		750		750
Berry Global, Inc., Term Z Loan, (CME Term SOFR 1 Month + 1.75%), 7.18%, 07/01/2026 (u) (aa)		530		532
Iris Holding, Inc., Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 4.75%), 10.16%, 06/28/2028 (aa)		1,221		1,166

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Packaging & Containers — continued
Trident TPI Holdings, Inc., Tranche B-5 Initial Term Loan Retired 04/01/2024, (CME Term SOFR 3 Month + 4.50%), 9.81%, 09/15/2028 (aa)		581		581
				3,029
Transportation — 0.0% (g)
Genesee & Wyoming, Inc., Initial Term Loan, (CME Term SOFR 3 Month + 2.00%), 7.45%, 12/30/2026 (u) (aa)		849		849
Total Industrial				29,395
Technology — 0.9%
Computers — 0.2%
Atlas CC Acquisition Corp., Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.25%), 9.85%, 05/25/2028 (aa)		540		504
Atlas CC Acquisition Corp., Term C Loan (First Lien), (CME Term SOFR 3 Month + 4.25%), 9.85%, 05/25/2028 (aa)		110		103
Magenta Buyer LLC, Initial Term Loan (First Lien), (CME Term SOFR 3 Month + 5.00%), 10.57%, 07/27/2028 (u) (aa)		9		6
McAfee Corp., Tranche B-1 Term Loan, (CME Term SOFR 1 Month + 3.75%), 9.18%, 03/01/2029 (u) (aa)		2,903		2,894
McAfee Corp., Tranche B-2 Term Loan, (EURIBOR 6 Month + 0.00%), 0.00%, 03/01/2029	EUR	5,510		5,814
NCR Atleos LLC, Term B Loan, (CME Term SOFR 3 Month + 4.75%), 10.16%, 03/27/2029 (aa)		1,600		1,607
Peraton Corp., Term B Loan (First Lien), (CME Term SOFR 1 Month + 3.75%), 9.18%, 02/01/2028 (u) (aa)		3,291		3,285
Peraton Corp., Term B-1 Loan (Second Lien), (CME Term SOFR 3 Month + 7.75%), 13.18%, 02/01/2029 (aa)		1,199		1,201
				15,414
Software — 0.7%
Ascend Learning LLC, Initial Term Loan (2021) (First Lien), (CME Term SOFR 1 Month + 3.50%), 8.93%, 12/11/2028 (aa)		2,038		2,024
Ascend Learning LLC, Initial Term Loan (Second Lien), (CME Term SOFR 1 Month + 5.75%), 11.18%, 12/10/2029 (aa)		458		450
athenahealth Group, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 3.25%), 8.58%, 02/15/2029 (aa)		10,117		10,007
Boxer Parent Co., Inc., 2028 Extended Dollar Term Loan, (CME Term SOFR 1 Month + 4.25%), 9.58%, 12/29/2028 (aa)		2,573		2,588
Cloud Software Group, Inc., Dollar Term B Loan (First Lien), (CME Term SOFR 3 Month + 4.50%), 0.00%, 03/30/2029 (u) (aa)		2,065		2,054
Cloud Software Group, Inc., Third Amendment Term Loan, (CME Term SOFR 1 Month + 4.50%), 0.00%, 03/21/2031 (u) (aa)		2,383		2,367
Cotiviti Holdings, Inc., Fixed Rate Term Loan, (FIXED 3 Month + 0.00%), 0.00%, 02/21/2031 (u) (aa)		17,063		17,084
Ellucian Holdings, Inc., Term B-1 Loan (First Lien), (CME Term SOFR 1 Month + 3.50%), 0.00%, 10/09/2029 (u) (aa)		1,208		1,212
Genesys Cloud Services Holdings I LLC, 2024 Incremental Dollar Term Loan, (CME Term SOFR 1 Month + 3.75%), 0.00%, 12/01/2027 (u) (aa)		1,157		1,161
Planview Parent, Inc., Closing Date Loan (Second Lien), (CME Term SOFR 3 Month + 7.25%), 12.65%, 12/18/2028 (aa)		180		174
Polaris Newco LLC, Dollar Term Loan (First Lien), (CME Term SOFR 3 Month + 4.00%), 9.57%, 06/02/2028 (aa)		2,049		2,028
Project Alpha Intermediate Holding, Inc., Initial Term Loan, (CME Term SOFR 3 Month + 4.75%), 10.06%, 10/28/2030 (aa)		183		184
RealPage, Inc., Initial Loan (Second Lien), (CME Term SOFR 1 Month + 6.50%), 11.94%, 04/23/2029 (aa)		918		908
RealPage, Inc., Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 3.00%), 8.44%, 04/24/2028 (aa)		2,906		2,826
Skillsoft Finance II, Inc., Initial Term Loan, (CME Term SOFR 1 Month + 5.25%), 10.69%, 07/14/2028 (aa)		1,831		1,630

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
Sovos Compliance LLC, Initial Term Loan (First Lien), (CME Term SOFR 1 Month + 4.50%), 9.94%, 08/11/2028 (aa)		1,007		997
SS&C Technologies Holdings, Inc., Term B-3 Loan, (CME Term SOFR OPEN Month + 0.00%), 0.00%, 04/16/2025 (u)		512		512
SS&C Technologies Holdings, Inc., Term B-4 Loan, (CME Term SOFR OPEN Month + 0.00%), 0.00%, 04/16/2025 (u)		484		484
UKG, Inc., 2021 Incremental Term Loan (Second Lien), (CME Term SOFR 3 Month + 5.25%), 10.68%, 05/03/2027 (aa)		1,367		1,377
				50,067
Total Technology				65,481
Utilities — 0.0% (g)
Electric — 0.0% (g)
Calpine Corp., 2024 Term Loan (05/15), (CME Term SOFR OPEN Month + 2.00%), 0.00%, 12/16/2027 (u)		830		829
Heritage Power LLC, Term Loan, (CME Term SOFR 3 Month + 5.50%), 10.81%, 07/20/2028 (aa)		156		148
				977
Total Loan Assignments (Cost $222,667)				221,299
Short-Term Investments — 3.9%
Commercial Papers — 0.2%
Brookfield Infrastructure Holdings Canada, Inc., (Canada), 6.08%, 05/02/2024 (n)		3,000		2,984
Canadian Tire Corp. Ltd., (Canada), 5.79%, 04/09/2024 (n)		2,000		1,996
CommonSpirit Health, 6.03%, 04/02/2024 (n)		4,000		3,997
Entergy Corp., 5.56%, 04/18/2024 (e) (n)		2,250		2,243
Jabil, Inc., 5.95%, 04/01/2024 (e) (n)		2,000		1,998
Walgreens Boots Alliance, Inc.,
6.44%, 04/18/2024 (e) (n)		1,060		1,056
6.44%, 04/05/2024 (e) (n)		1,542		1,540
Total Commercial Papers				15,814
Time Deposits — 2.8%
Australia & New Zealand Banking Group Ltd., 4.68%, 03/29/2024		499		499
Barclays SA, 4.68%, 03/29/2024		17,698		17,698
BNP Paribas SA,
0.52%, 04/02/2024		CHF      1		1
3.79%, 04/01/2024		CAD    1		1
Brown Brothers Harriman, 2.36%, 04/02/2024		HKD    229		29
Citibank NA,
2.85%, 04/02/2024		EUR  11,177		12,058
4.68%, 03/29/2024		3,957		3,957
Royal Bank of Canada,
4.15%, 04/02/2024		GBP  12,777		16,127
4.68%, 03/29/2024		53,853		53,853
Sumitomo Mitsui Banking Corp.,
(0.25%), 03/29/2024		JPY     6,898		46
4.68%, 03/29/2024 (c)		4,773		4,773
Sumitomo Mitsui Trust Bank Ltd., 4.68%, 03/29/2024		89,224		89,224
Total Time Deposits				198,266

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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
U.S. Treasury Obligations — 0.9%
U.S. Treasury Bills,
5.30%, 04/30/2024 (n) (ii)		17,512		17,438
5.30%, 05/02/2024 (n)		17,000		16,923
5.29%, 05/16/2024 (n) (ee)		1,046		1,039
5.30%, 06/06/2024 (n)		17,000		16,837
5.29%, 06/20/2024 (n) (ii)		72		71
5.29%, 06/27/2024 (n)		400		395
5.30%, 07/09/2024 (n)		13,200		13,012
Total U.S. Treasury Obligations				65,715
Total Short-Term Investments (Cost $279,803)				279,795
Total Investments — 99.9% (Cost - $7,214,552)*				7,240,902
Other Assets in Excess of Liabilities — 0.1%				6,703
NET ASSETS — 100.0%			$	7,247,605

Percentages indicated are based on net assets.

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

Futures contracts outstanding as of March 31, 2024:

Exchange Traded

DESCRIPTION	NUMBER OF CONTRACTS			EXPIRATION DATE		TRADING CURRENCY		NOTIONAL AMOUNT ($)			VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($)
Long Contracts
Euro Schatz		2			06/2024		EUR		228			—	(h)
U.S. Treasury 2 Year Note		523			06/2024		USD		107,085			(139	)
U.S. Treasury 5 Year Note		630			06/2024		USD		67,332			88
U.S. Treasury Long Bond		39			06/2024		USD		4,615			82
U.S. Ultra Treasury 10 Year Note		20			06/2024		USD		2,270			22
												53
Short Contracts
Euro BOBL		(1	)		06/2024		EUR		(127	)		(—)	(h)
U.S. Treasury 10 Year Note		(97	)		06/2024		USD		(10,825	)		77
U.S. Treasury 2 Year Note		(40	)		06/2024		USD		(8,184	)		5
U.S. Treasury 5 Year Note		(299	)		06/2024		USD		(31,929	)		(69	)
U.S. Treasury Ultra Bond		(26	)		06/2024		USD		(3,290	)		(64	)
												(51	)
Total unrealized appreciation (depreciation)												2

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024:

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE	UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	6	BRL	29	Citibank, NA	04/02/2024		—	(h)
USD	7,144	BRL	35,828	Citibank, NA	04/02/2024		1
USD	901	EUR	823	Bank of America, NA	04/02/2024		13
USD	51,858	EUR	47,883	Bank of America, NA	04/02/2024		200
USD	218	EUR	199	Barclays Bank plc	04/02/2024		3
USD	4,012	EUR	3,704	Morgan Stanley & Co.	04/02/2024		16
USD	170	GBP	133	Morgan Stanley & Co.	04/02/2024		2
USD	279	GBP	219	Morgan Stanley & Co.	04/02/2024		3
USD	72,993	EUR	66,700	Citibank, NA	04/17/2024		991
USD	4,763	EUR	4,400	Citibank, NA	04/17/2024		13
USD	4,930	EUR	4,547	Citibank, NA	04/17/2024		21
USD	7,044	EUR	6,500	Citibank, NA	04/17/2024		28
USD	14,657	EUR	13,500	Citibank, NA	04/17/2024		84
USD	1,517	EUR	1,400	Citibank, NA	04/17/2024		6
USD	6,937	EUR	6,400	Citibank, NA	04/17/2024		28
USD	192,240	EUR	178,000	Citibank, NA	04/17/2024		90
USD	12,820	EUR	11,800	Citibank, NA	04/17/2024		82
USD	14,901	EUR	13,800	Citibank, NA	04/17/2024		4
USD	98,845	EUR	90,500	Citibank, NA	04/17/2024		1,151
USD	85,062	EUR	78,000	Citibank, NA	04/17/2024		861
USD	31,503	EUR	29,000	Citibank, NA	04/17/2024		198
USD	5,415	EUR	5,000	Citibank, NA	04/17/2024		17
USD	765	EUR	700	Citibank, NA	04/17/2024		10
USD	4,105	EUR	3,743	Citibank, NA	04/17/2024		64
USD	1,634	EUR	1,500	Citibank, NA	04/17/2024		14
USD	1,413	EUR	1,300	Citibank, NA	04/17/2024		10
USD	29,559	EUR	27,000	Citibank, NA	04/17/2024		412
USD	13,700	EUR	12,600	Citibank, NA	04/17/2024		99
USD	3,357	EUR	3,072	Citibank, NA	04/17/2024		41
USD	98,193	EUR	90,900	Citibank, NA	04/17/2024		67
USD	19,443	EUR	18,000	Citibank, NA	04/17/2024		12
USD	86,725	EUR	80,000	Citibank, NA	04/17/2024		365
USD	4,356	EUR	4,000	Citibank, NA	04/17/2024		38
USD	119,593	EUR	110,000	Citibank, NA	04/17/2024		848
USD	97,855	EUR	90,000	Citibank, NA	04/17/2024		701
USD	123,340	EUR	113,000	Citibank, NA	04/17/2024		1,357
USD	8,687	EUR	8,000	Citibank, NA	04/17/2024		50
USD	2,560	EUR	2,340	Citibank, NA	04/17/2024		33
USD	10,197	GBP	8,000	Citibank, NA	04/17/2024		99
USD	11,501	GBP	9,100	Citibank, NA	04/17/2024		15
USD	1,280	GBP	1,000	Citibank, NA	04/17/2024		17
USD	7,046	GBP	5,500	Citibank, NA	04/17/2024		104
USD	7,658	GBP	6,000	Citibank, NA	04/17/2024		84
USD	2,569	GBP	2,000	Citibank, NA	04/17/2024		45
USD	34,247	GBP	27,000	Citibank, NA	04/17/2024		167
USD	3,334	GBP	2,639	Citibank, NA	04/17/2024		3
USD	36,968	GBP	29,000	Citibank, NA	04/17/2024		363
USD	34,379	GBP	27,000	Citibank, NA	04/17/2024		299
USD	12,621	GBP	9,900	Citibank, NA	04/17/2024		125

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024 (continued):

CURRENCY PURCHASED		CURRENCY SOLD		COUNTERPARTY	SETTLEMENT DATE	UNREALIZED APPRECIATION (DEPRECIATION) ($)
USD	3,813	GBP	3,000	Citibank, NA	04/17/2024		26
USD	8,882	GBP	7,000	Citibank, NA	04/17/2024		46
USD	8,863	GBP	7,000	Citibank, NA	04/17/2024		27
USD	57,003	EUR	52,609	Morgan Stanley & Co.	05/02/2024		177
USD	445	GBP	352	Barclays Bank plc	05/02/2024		1
BRL	35,943	USD	7,144	Citibank, NA	05/03/2024		—	(h)
COP	13,510,022	USD	3,390	Citibank, NA	06/20/2024		59
USD	56,806	EUR	51,946	UBS AG LONDON	06/20/2024		582
USD	358	EUR	328	UBS AG LONDON	06/20/2024		3
USD	11,290	GBP	8,863	Barclays Bank plc	06/20/2024		99
USD	363	GBP	287	BNP Paribas	06/20/2024		—	(h)
USD	118	GBP	93	Morgan Stanley & Co.	06/20/2024		1
USD	231	GBP	181	Morgan Stanley & Co.	06/20/2024		2
Total unrealized appreciation							10,277
BRL	35,857	USD	7,195	Citibank, NA	04/02/2024		(45	)
EUR	52,609	USD	56,933	Morgan Stanley & Co.	04/02/2024		(176	)
USD	62,429	EUR	58,000	Citibank, NA	04/17/2024		(181	)
USD	2,260	EUR	2,100	Citibank, NA	04/17/2024		(7	)
USD	17,258	EUR	16,000	Citibank, NA	04/17/2024		(14	)
EUR	6,336	USD	6,870	Citibank, NA	04/17/2024		(30	)
EUR	5,822	USD	6,338	Citibank, NA	04/17/2024		(54	)
USD	20,497	EUR	19,000	Citibank, NA	04/17/2024		(14	)
USD	89,571	EUR	83,000	Citibank, NA	04/17/2024		(27	)
USD	6,677	GBP	5,300	Citibank, NA	04/17/2024		(13	)
USD	1,640	GBP	1,300	Citibank, NA	04/17/2024		(1	)
USD	23,970	GBP	19,000	Citibank, NA	04/17/2024		(13	)
USD	13,241	GBP	10,500	Citibank, NA	04/17/2024		(12	)
USD	13,848	GBP	11,000	Citibank, NA	04/17/2024		(37	)
USD	6,278	GBP	5,000	Citibank, NA	04/17/2024		(33	)
USD	1,169	MXN	19,619	Morgan Stanley & Co.	04/19/2024		(8	)
BRL	3,861	USD	771	Citibank, NA	05/03/2024		(4	)
TRY	248,118	USD	7,225	Barclays Bank plc	05/22/2024		(6	)
INR	297,711	USD	3,583	Morgan Stanley & Co.	06/20/2024		(22	)
Total unrealized depreciation							(697	)
Net unrealized appreciation (depreciation)							9,580

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 March 31, 2024:

FLOATING RATE INDEX (a)	FIXED RATE		PAY/ RECEIVE FLOATING RATE		MATURITY DATE		NOTIONAL AMOUNT		UPFRONT PAYMENTS (RECEIPTS) ($)			UNREALIZED APPRECIATION (DEPRECIATION) ($)			VALUE ($)
BRL-CDI		9.84% maturity		Pay		01/04/2027	BRL	85,200		—			(119	)		(119	)
EURIBOR 6 Month		2.75% annually		Pay		09/18/2034	EUR	7,500		168			(7	)		161
EURIBOR 6 Month		2.50% annually		Receive		09/18/2054	EUR	3,100		(161	)		11			(150	)
SONIA Interest Rate Benchmark		4.00% annually		Pay		09/18/2029	GBP	19,300		389			11			400
SONIA Interest Rate Benchmark		3.75% annually		Pay		09/18/2034	GBP	7,000		123			(2	)		121
United States SOFR		4.25% annually		Pay		12/20/2025	USD	13,700		(148	)		9			(139	)
United States SOFR		1.00% annually		Receive		06/15/2027	USD	3,300		(387	)		(42	)		(429	)
United States SOFR		3.75% annually		Receive		06/20/2029	USD	4,800		(26	)		57			31
United States SOFR		3.75% annually		Receive		06/20/2029	USD	26,400		98			74			172
United States SOFR		3.50% annually		Pay		12/20/2030	USD	27,100		(997	)		220			(777	)
United States SOFR		3.75% annually		Pay		06/20/2034	USD	16,300		(6	)		(50	)		(56	)
United States SOFR		3.75% annually		Pay		06/20/2034	USD	13,400		(240	)		286			46
United States SOFR		3.75% annually		Pay		06/20/2034	USD	1,300		12			(16	)		(4	)
United States SOFR		3.25% annually		Pay		12/20/2053	USD	6,300		589			(133	)		456
United States SOFR		3.50% annually		Pay		06/20/2054	USD	17,600		(417	)		142			(275	)
Total										(1,003	)		441			(562	)

(a) Value of floating rate index as of March 31, 2024 was as follows:

FLOATING RATE INDEX
BRL-CDI	1.01%
EURIBOR 6 Month	3.85%
SONIA Interest Rate Benchmark	5.19%
United States SOFR	5.34%

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

OTC Credit Default Swaps contracts outstanding — sell protection (1) as of March 31, 2024:

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		06/20/2026		1.10	EUR	10		1			(—)	(h)		1
CMA CGM SA, 7.50%, 01/15/2026		5.00	%		quarterly	Goldman Sachs		06/20/2027		1.44	EUR	70		2			6			8
CMA CGM SA, 7.50%, 01/15/2026		5.00	%		quarterly	Barclays Bank plc		06/20/2027		1.44	EUR	49		2			4			6
State of Israel, 2.88%, 03/16/2026		1.00	%		quarterly	Citibank, NA		06/20/2027		0.90	USD	4,600		(27	)		41			14
Vietnam Government International Bond, 4.80%, 11/19/2024		1.00	%		quarterly	Citibank, NA		12/20/2027		0.97	USD	4,300		(124	)		131			7
Adler Real Estate AG, 2.13%, 02/06/2024		5.00	%		quarterly	Bank of America, NA		12/20/2027		6.78	EUR	200		(50	)		39			(11	)
Forvia SA, Reg. S, 3.13%, 06/15/2026		5.00	%		quarterly	Barclays Bank plc		06/20/2029		2.23	EUR	127		16			4			20
Ziggo Bond, 5.13%, 02/28/2030		5.00	%		quarterly	Bank of America, NA		06/20/2029		3.67	EUR	70		5			1			6
China Government International Bond, 7.50%, 10/28/2027		1.00	%		quarterly	Barclays Bank plc		06/20/2029		0.72	USD	5,900		82			(2	)		80
Total														(93	)		224			131

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

(Amounts in U.S. Dollars, unless otherwise noted)

(Amounts in thousands, except number of Futures contracts)

OTC Credit Default Swaps contracts outstanding — buy protection (2) as of March 31, 2024:

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 ($)
Morocco Government International Bond, 3.00%, 12/15/2032		1.00	%		quarterly		Barclays Bank plc		06/20/2029		0.97	USD	2,700		—			(5	)		(5	)
Korea International Bond, 2.75%, 01/19/2027		1.00	%		quarterly		Morgan Stanley		06/20/2029		0.38	USD	3,450		(101	)		(—)	(h)		(101	)
Korea International Bond, 2.75%, 01/19/2027		1.00	%		quarterly		Barclays Bank plc		06/20/2029		0.38	USD	18,100		(528	)		(1	)		(529	)
Total															(629	)		(6	)		(635	)

Centrally Cleared Credit Default Swaps contracts outstanding — sell protection (1) as of March 31, 2024:

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.EM.40-V1		1.00	%		quarterly		12/20/2028		1.59		USD	3,900		(130	)		37		(93	)
CDX.NA.HY.41-V1		5.00	%		quarterly		12/20/2028		3.12		USD	81,051		2,842			3,260		6,102
CDX.NA.IG.41-V1		1.00	%		quarterly		12/20/2028		0.46		USD	820		8			11		19
CDX.EM.HY.40-V1		1.00	%		quarterly		12/20/2028		2.77		USD	21,300		(1,928	)		433		(1,495	)
CDX.NA.HY.42-V1		5.00	%		quarterly		06/20/2029		3.29		USD	41,000		2,853			171		3,024
Total														3,645			3,912		7,557

(1) 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.

(2) 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.

(3) Implied credit spreads are an indication of the seller’s 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

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 MARCH 31, 2024

CDX	—	Credit Default Swap Index
CLO	—	Collateralized Loan Obligations
CMT	—	Constant Maturity Treasury
EURIBOR	—	Euro Interbank Offered Rate
FHLMC	—	Federal Home Loan Mortgage Corp.
ICE	—	Intercontinental Exchange
LIBOR	—	London Interbank Offered Rate
OYJ	—	Public Limited Company
PIK	—	Payment in Kind
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
SUB	—	Step-Up Bond. The interest rate shown is the rate in effect as of March 31, 2024.
(a)	—	Non-income producing security.
(c)	—	All or a portion of this security is held by the Six Circles Credit Opportunities Fund (Cayman) Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands.
(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 March 31, 2024.
(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 December 31, 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 March 31, 2024.
(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 March 31, 2024.
(aa)	—	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of March 31, 2024.
(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.

Six Circles Credit Opportunities Fund

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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)

(ee)	—	Approximately $12,377 of these investments are restricted as collateral for swaps to various brokers.
(ff)	—	Approximately $244 of these investments are restricted as collateral for futures to Citigroup Global Markets, Inc.
(ii)	—	Approximately $581 of these investments are restricted as collateral for forwards to various brokers.
*	—	The cost of securities is substantially the same for federal income tax purposes.
BRL	—	Brazilian Real
CAD	—	Canadian Dollar
CHF	—	Swiss Franc
COP	—	Chinese Yuan
EUR	—	Euro
GBP	—	British Pound
HKD	—	Hong Kong Dollar
INR	—	Indian Rupee
JPY	—	Japanese Yen
MXN	—	Mexican Peso
PYG	—	Paraguayan Guarani
TRY	—	Turkish Lira
USD	—	United States Dollar

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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 Fund’s 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 MARCH 31, 2024 (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 instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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	$	—		$	136,339		$	—	$	136,339
Collateralized Mortgage Obligations		—			23,914			—		23,914
Commercial Mortgage-Backed Securities		—			23,346			—		23,346
Corporate Bonds
Communications		—			27,875			—		27,875
Consumer Cyclical		—			34,912			—		34,912
Consumer Non-cyclical		—			28,417			—		28,417
Energy		—			10,392			—		10,392
Financial		—			124,637			—		124,637
Industrial		—			21,541			—		21,541
Technology		—			9,874			—		9,874
Utilities		—			10,709			—		10,709
Total Corporate Bonds		—			268,357			—		268,357
Foreign Government Securities		—			3,372			—		3,372
Municipal Bond		—			1,552			—		1,552
U.S. Government Agency Securities		—			20,007			—		20,007
U.S. Treasury Obligations		—			45,252			—		45,252
Short-Term Investments
Certificates of Deposit		—			4,002			—		4,002
Commercial Papers		—			20,892			—		20,892
Foreign Government Security		—			8,539			—		8,539
Repurchase Agreement		—			3,000			—		3,000
Time Deposits		—			31,560			—		31,560
U.S. Treasury Obligations		—			15,295			—		15,295
Total Short-Term Investments		—			83,288			—		83,288
Total Investments in Securities	$	—		$	605,427		$	—	$	605,427
Appreciation in Other Financial Instruments
Futures contracts	$	62		$	—		$	—	$	62
Forward Foreign Currency Exchange contracts		—			267			—		267
Total Appreciation in Other Financial Instruments	$	62		$	267		$	—	$	329
Depreciation in Other Financial Instruments
Futures contracts	$	(149	)	$	—		$	—	$	(149	)
Forward Foreign Currency Exchange contracts		—			(87	)		—		(87	)
Total Depreciation in Other Financial Instruments	$	(149	)	$	(87	)	$	—	$	(236	)

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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	$	—		$	62,958		$	—	$	62,958
Collateralized Mortgage Obligations		—			20,666			—		20,666
Commercial Mortgage-Backed Securities		—			8,391			—		8,391
Corporate Bonds
Communications		—			1,170			—		1,170
Consumer Cyclical		—			11,829			—		11,829
Consumer Non-cyclical		—			12,471			—		12,471
Energy		—			3,398			—		3,398
Financial		—			56,435			—		56,435
Industrial		—			5,415			—		5,415
Technology		—			3,621			—		3,621
Utilities		—			7,916			—		7,916
Total Corporate Bonds		—			102,255			—		102,255
Foreign Government Securities		—			1,726			—		1,726
Municipal Bonds		—			493,801			—		493,801
U.S. Government Agency Securities		—			4,400			—		4,400
Short-Term Investments
Commercial Papers		—			8,878			—		8,878
Municipal Bonds		—			10,984			—		10,984
Repurchase Agreement		—			3,900			—		3,900
Time Deposits		—			2,162			—		2,162
U.S. Treasury Obligation		—			133			—		133
Total Short-Term Investments		—			26,057			—		26,057
Total Investments in Securities	$	—		$	720,254		$	—	$	720,254
Appreciation in Other Financial Instruments
Futures contracts	$	85		$	—		$	—	$	85
Forward Foreign Currency Exchange contracts		—			55			—		55
Total Appreciation in Other Financial Instruments	$	85		$	55		$	—	$	140
Depreciation in Other Financial Instruments
Futures contracts	$	(118	)	$	—		$	—	$	(118	)
Forward Foreign Currency Exchange contracts		—			(69	)		—		(69	)
Total Depreciation in Other Financial Instruments	$	(118	)	$	(69	)	$	—	$	(187	)

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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	$	168,844		$	—	$	—	$	168,844
Communications		3,864,723			—		—		3,864,723
Consumer Cyclical		718,840			—		—		718,840
Consumer Non-cyclical		4,625,085			—		—		4,625,085
Energy		1,191,176			—		—		1,191,176
Financial		4,788,159			—		—		4,788,159
Industrial		1,629,864			—		—		1,629,864
Technology		6,761,085			—		—		6,761,085
Utilities		187,204			—		—		187,204
Total Common Stocks		23,934,980			—		—		23,934,980
Short-Term Investments
Time Deposits		—			159,419		—		159,419
Total Investments in Securities	$	23,934,980		$	159,419	$	—	$	24,094,399
Appreciation in Other Financial Instruments
Futures contracts	$	2,570		$	—	$	—	$	2,570
Depreciation in Other Financial Instruments
Future contract	$	(30	)	$	—	$	—	$	(30	)

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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	$	—		$	33,171	$	—	$	33,171
Belgium		792			261,076		—		261,868
Chile		—			21,343		—		21,343
China		—			1,401		—		1,401
Denmark		—			1,237,417		—		1,237,417
Finland		—			176,040		—		176,040
France		—			1,862,681		—		1,862,681
Germany		—			2,071,509		—		2,071,509
Hong Kong		—			63,636		—		63,636
Ireland		15,866			256,937		—		272,803
Italy		463			424,693		—		425,156
Japan		—			757,543		—		757,543
Jordan		—			4,582		—		4,582
Luxembourg		—			29,661		—		29,661
Netherlands		394			1,478,949		—		1,479,343
Norway		2,143			81,769		—		83,912
Portugal		—			16,621		—		16,621
Spain		—			346,602		—		346,602
Sweden		974			435,950		—		436,924
Switzerland		—			2,247,123		—		2,247,123
Taiwan		—			306,351		—		306,351
United Arab Emirates		—			—		—		—
United Kingdom		63,331			2,518,521		—		2,581,852
United States		—			921		—		921
Total Common Stocks		83,963			14,634,497		—		14,718,460
Preferred Stocks
Germany		—			48,045		—		48,045
Short-Term Investments
Time Deposits		—			108,948		—		108,948
Total Investments in Securities	$	83,963		$	14,791,490	$	—	$	14,875,453
Appreciation in Other Financial Instruments
Futures contracts	$	3,007		$	—	$	—	$	3,007
Depreciation in Other Financial Instruments
Future contract	$	(18	)	$	—	$	—	$	(18	)

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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	$	—		$	81,652		$	—	$	81,652
Collateralized Mortgage Obligations		—			272,529			—		272,529
Commercial Mortgage-Backed Securities		—			45,602			—		45,602
Corporate Bonds
Basic Materials	$	—		$	119,865		$	—	$	119,865
Communications		—			300,035			—		300,035
Consumer Cyclical		—			356,386			—		356,386
Consumer Non-cyclical		—			578,981			—		578,981
Energy		—			164,514			—		164,514
Financial		—			1,948,365			—		1,948,365
Government		—			318,824			—		318,824
Industrial		—			402,736			—		402,736
Technology		—			178,794			—		178,794
Utilities		—			420,259			—		420,259
Total Corporate Bonds		—			4,788,759			—		4,788,759
Foreign Government Securities		—			4,321,627			—		4,321,627
Mortgage-Backed Securities		—			1,618,195			—		1,618,195
Municipal Bonds		—			6,819			—		6,819
U.S. Government Agency Securities		—			12,125			—		12,125
U.S. Treasury Obligations		—			1,184,006			—		1,184,006
Short-Term Investments
Time Deposits	$	—		$	143,639		$	—	$	143,639
U.S. Treasury Obligations		—			2,282			—		2,282
Total Short-Term Investments		—			145,921			—		145,921
Total Investments in Securities	$	—		$	12,477,235		$	—	$	12,477,235
Liabilities
Debt Securities
Mortgage-Backed Securities	$	—		$	274,675		$	—	$	274,675
Appreciation in Other Financial Instruments
Futures contracts	$	3,797		$	—		$	—	$	3,797
Forward Foreign Currency Exchange contracts		—			64,915			—		64,915
OTC Interest Rate Swaps contracts		—			14			—		14
Centrally Cleared Interest Rate Swap contracts		—			1,996			—		1,996
Total Appreciation in Other Financial Instruments	$	3,797		$	66,925		$	—	$	70,722
Depreciation in Other Financial Instruments
Futures contracts	$	(1,571	)	$	—		$	—	$	(1,571	)
Forward Foreign Currency Exchange contracts		—			(12,327	)		—		(12,327	)
OTC Interest Rate Swap contract		—			(84	)		—		(84	)
Centrally Cleared Interest Rate Swap contracts		—			(5,622	)		—		(5,622	)
Centrally Cleared Credit Default Swap contract		—			(30	)		—		(30	)
Written Option contracts
Written Put Option contracts		—			(27	)		—		(27	)
Total Written Option contracts		—			(27	)		—		(27	)
Total Depreciation in Other Financial Instruments	$	(1,571	)	$	(18,090	)	$	—	$	(19,661	)

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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	$	—	$	483	$	—	$	483
Municipal Bonds		—		8,856,669		—		8,856,669
Short-Term Investments
Municipal Bonds		—		13,702		—		13,702
Time Deposits		—		92,577		—		92,577
Total Short-Term Investments		—		106,279		—		106,279
Total Investments in Securities	$	—	$	8,963,431	$	—	$	8,963,431

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (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	$	—	$	132,581	$	310	$	132,891
Collateralized Mortgage Obligations		—		2,984		—		2,984
Commercial Mortgage-Backed Securities		—		15,898		—		15,898
Convertible Bonds
Communications		—		9,547		—		9,547
Consumer Cyclical		—		3,394		—		3,394
Consumer Non-cyclical		—		4,595		—		4,595
Energy		—		2,761		—		2,761
Financial		—		3,236		—		3,236
Industrial		—		2,783		—		2,783
Technology		—		312		—		312
Utilities		—		4,854		—		4,854
Total Convertible Bonds		—		31,482		—		31,482
Corporate Bonds
Basic Materials		—		283,517		—		283,517
Communications		—		796,708		27		796,735
Consumer Cyclical		—		1,061,854		—		1,061,854
Consumer Non-cyclical		—		846,443		166		846,609
Diversified		—		12,617		—		12,617
Energy		—		615,272		—		615,272
Financial		—		1,007,776		—		1,007,776
Industrial		—		636,261		—		636,261
Technology		—		206,334		—		206,334
Utilities		—		279,567		—		279,567
Total Corporate Bonds		—		5,746,349		193		5,746,542
Foreign Government Securities		—		610,402		—		610,402
U.S. Treasury Obligations		—		182,317		—		182,317
Common Stocks
Basic Materials		3,087		—		—		3,087
Communications		—		2,256		1,541		3,797
Financial		—		1,390		—		1,390
Utilities		—		—		296		296
Total Common Stocks		3,087		3,646		1,837		8,570
Preferred Stocks
Communications		—		—		2,255		2,255
Consumer Cyclical		—		—		6,467		6,467
Total Preferred Stocks		—		—		8,722		8,722

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

Six Circles Credit Opportunities Fund (continued)

	Level 1 Quoted prices			Level 2 Other significant observable inputs			Level 3 Significant unobservable inputs		Total
Loan Assignments
Basic Materials	$	—		$	8,369		$	—	$	8,369
Communications		—			39,009			—		39,009
Consumer Cyclical		—			14,282			—		14,282
Consumer Non-cyclical		—			35,614			—		35,614
Diversified		—			1,726			—		1,726
Energy		—			6,097			—		6,097
Financial		—			20,349			—		20,349
Industrial		—			29,395			—		29,395
Technology		—			65,481			—		65,481
Utilities		—			977			—		977
Total Loan Assignments		—			221,299			—		221,299
Short-Term Investments
Commercial Papers		—			15,814			—		15,814
Time Deposits		—			198,266			—		198,266
U.S. Treasury Obligations		—			65,715			—		65,715
Total Short-Term Investments		—			279,795			—		279,795
Total Investments in Securities	$	3,087		$	7,226,753		$	11,062	$	7,240,902
Appreciation in Other Financial Instruments
Futures contracts	$	274		$	—		$	—	$	274
Forward Foreign Currency Exchange contracts		—			10,277			—		10,277
Centrally Cleared Interest Rate Swap contracts		—			810			—		810
OTC Credit Default Swaps contracts		—			226			—		226
Centrally Cleared Credit Default Swaps contracts		—			3,912			—		3,912
Total Appreciation in Other Financial Instruments	$	274		$	15,225		$	—	$	15,499
Depreciation in Other Financial Instruments
Futures contracts	$	(272	)	$	—		$	—	$	(272	)
Forward Foreign Currency Exchange contracts		—			(697	)		—		(697	)
Centrally Cleared Interest Rate Swap contracts		—			(369	)		—		(369	)
OTC Credit Default Swaps contracts		—			(8	)		—		(8	)
Total Depreciation in Other Financial Instruments	$	(272	)	$	(1,074	)	$	—	$	(1,346	)

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

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 Fund’s 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 non-public 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 March 31, 2024, the Six Circles Credit Opportunities Fund had no loan commitments outstanding.

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 MARCH 31, 2024 (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 counterparty’s 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 Fund’s 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 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.

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,

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

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 Fund’s 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 day’s 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 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 Fund’s 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 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 Fund’s 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.

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.

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2024 (Unaudited) (continued)

The Funds may be required to post or receive collateral in the form of cash or securities based on the net value of the Fund’s 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

The Six Circles Global Bond 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 Fund’s 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 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.