Six Circles U.S. Unconstrained Equity Fund

SIX CIRCLES TRUST · Series S000061649 · 1 share classes

Equity fund · 99% stocks· rate + credit risk filed
One fund, 1 share classes:CUSUX
$30.85B NAV
534 positions · as of 2026-03-31 · filed 2026-05-28
data updated 2026-08-10

Fund profile

As filed in the prospectus · 2026 Q2

The Fund seeks to provide capital appreciation.

Strategy · summarised

The fund is managed by J.P. Morgan Private Investments Inc., which allocates assets among publicly available U.S. equity indexes and individual large-cap securities selected for portfolio construction and risk management; BlackRock Investment Management, LLC then implements these allocations by replicating the performance of the chosen indexes and securities. The fund is non-diversified under the Investment Company Act and may concentrate assets in fewer issuers. Because the fund samples indexes rather than holding all constituents, its performance may diverge from the indexes it tracks.

Expenses
0.05%one share class
Share classGrossNet
CUSUX0.26%0.05%

Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.

Portfolio turnover 61.09% · as of 2026 Q2

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q1

99.93%
of net assets
Stocks98.82%
Real assets0.76%
Derivatives0.34%

Derivatives are shown at market value, not notional exposure.

Latest quarter

What changed since the fund's previous filing

vs 2025Q4: 10 new84 exited

Largest new: F/C S&P500 EMINI FUT JUN26, LITE, COHR, PNFP, IREN, RVMD, FTAI, CDE

Largest exited: F/C S&P500 EMINI FUT MAR26, F/C XAK TECHNOLOGY MAR26, F/C XAF FINANCIAL MAR26, DOCU, NTNX, DT, F/C NASD100 MICRO EMINMAR26, F/C NASDAQ 100 E-MINI MAR26

Return profile

Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026

1-year
3-year
5-year
Volatility
Worst 3-yr fall
Cumulative return· Apr 2023 – Feb 2026

Mar 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.

Debt profile

What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-03-31

Avg coupon
Avg maturity
Flagged holdings
Defaulted: not reported
In arrears: not reported
Paid in kind: not reported

Based on what filers reported; a filer that never reported a flag also reads as none.

Risk profile

Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1

Interest-rate duration
0.00 yr
approx. move per 100bp
Credit-spread duration
Not disclosed

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
NVIDIA CORPNVDA6.84%$2.11B
MICROSOFT CORPMSFT6.05%$1.87B
APPLE INCAAPL5.89%$1.82B
AMAZON.COM INCAMZN4.11%$1.27B
WALMART INCWMT3.82%$1.18B
BROADCOM INCAVGO2.96%$911.54M
ALPHABET INC-CL AGOOGL2.53%$779.13M
NETFLIX INCNFLX2.20%$679.51M
ALPHABET INC-CL CGOOG2.15%$662.52M
WELLS FARGO & COWFC2.10%$649.15M
Showing 10 of 534Sign in to see more

Top 10 positions are 38.66% of net assets, top 25 59.81%, across 534 issuers.

See more of this fund's book

More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.

Sign in free