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
$35.73B NAV
526 positions · as of 2026-06-30 · filed 2026-08-27
data updated 2026-09-08

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 Q2

99.93%
of net assets
Stocks98.93%
Real assets0.66%
Derivatives0.34%

Derivatives are shown at market value, not notional exposure.

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 17 new25 exited

Largest new: SPCX, F/C S&P500 EMINI FUT SEP26, HONA, CCL, FTI, FN, CRCL, MTZ

Largest exited: F/C S&P500 EMINI FUT JUN26, CARNIVAL CORP, COTERRA ENERGY INC, HUBS, IT, PINS, EQH, ZBRA

Return profile

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

1-year
+29.13%
3-year
+81.01%
5-year
+79.02%
Volatility
13.91%
Worst 3-yr fall
-8.47%
Cumulative return· Jul 2023 – Apr 2026

May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are 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 2026-06-30

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 2026Q2

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 CORPNVDA7.07%$2.53B
APPLE INCAAPL5.93%$2.12B
MICROSOFT CORPMSFT5.39%$1.93B
AMAZON.COM INCAMZN4.73%$1.69B
BROADCOM INCAVGO3.45%$1.23B
ALPHABET INC-CL AGOOGL3.24%$1.16B
WALMART INCWMT3.08%$1.10B
ALPHABET INC-CL CGOOG2.22%$794.36M
ELI LILLY & COLLY2.11%$753.48M
MICRON TECHNOLOGY INCMU1.81%$648.38M
Showing 10 of 526Sign in to see more

Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.

Top 10 positions are 39.03% of net assets, top 25 58.14%, across 526 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.

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