NPORT-P
    false
    
      
      
        
          0000933691
          XXXXXXXX
        
      
      
      
      
        S000071127
        C000225795
        C000225796
      
      
      
    
  
  
    
      JNL Series Trust
      811-8894
      0000933691
      549300T5WIPN6IWM0D45
      1 Corporate Way
      Lansing
      
      48951
      517-367-4336
      JNL/Morningstar PitchBook Listed Private Equity Index Fund
      S000071127
      549300OLGOJYPR2QTY47
      2022-12-31
      2022-03-31
      N
    
    
      8607638.330000000000
      8107.170000000000
      8599531.160000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      9068.360000000000
      
        
        
      
      
        
          
            UST
          
        
      
      
        
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        K.K.R. Co., Inc.
        549300JOHU21WRN2Z451
        K.K.R. Co., Inc.
        48251W104
        
          
          
          
        
        11433
        NS
        USD
        668487.51
        7.7735343656
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ICG Enterprise Trust PLC
        213800T2SY83WIJOJH13
        ICG Enterprise Trust PLC
        N/A
        
          
          
          
        
        5892
        NS
        
        87096.36
        1.0128035864
        Long
        EC
        RF
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Syncona Limited
        213800X8MBI5VQITLW60
        Syncona Limited
        N/A
        
          
          
          
        
        51548
        NS
        
        107791.09
        1.2534531010
        Long
        EC
        RF
        GG
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Riverstone Energy Limited
        213800HAZOW1AWRSZR47
        Riverstone Energy Limited
        N/A
        
          
          
          
        
        61
        NS
        
        518.46
        0.0060289333
        Long
        EC
        RF
        GG
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Arix Bioscience PLC
        213800OVT3AHQCXNIX43
        Arix Bioscience PLC
        N/A
        
          
          
          
        
        4685
        NS
        
        7205.05
        0.0837842188
        Long
        EC
        CORP
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Augmentum Fintech PLC
        213800OTQ44T555I8S71
        Augmentum Fintech PLC
        N/A
        
          
          
          
        
        400
        NS
        
        700.67
        0.0081477698
        Long
        EC
        RF
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Pantheon International PLC
        2138001B3CE5S5PEE928
        Pantheon International PLC
        N/A
        
          
          
          
        
        17398
        NS
        
        71279.97
        0.8288820480
        Long
        EC
        RF
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Hamilton Lane Incorporated
        5493006OKN3V1NORM833
        Hamilton Lane Incorporated
        407497106
        
          
          
          
        
        1262
        NS
        USD
        97539.98
        1.1342476489
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Caledonia Investments PLC
        2138002FX1MYCA5ZZH32
        Caledonia Investments PLC
        N/A
        
          
          
          
        
        1824
        NS
        
        85019.47
        0.9886523860
        Long
        EC
        RF
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        HBM Healthcare Investments AG
        549300IFDFSDRT4D3076
        HBM Healthcare Investments AG
        N/A
        
          
          
          
        
        3
        NS
        
        898.73
        0.0104509186
        Long
        EC
        RF
        CH
        
        N
        
        2
        
          N
          N
          N
        
      
      
        NB Private Equity Partners Limited
        213800UJH93NH8IOFQ77
        NB Private Equity Partners Limited
        N/A
        
          
          
          
        
        1210
        NS
        
        26288.73
        0.3056995726
        Long
        EC
        RF
        GG
        
        N
        
        2
        
          N
          N
          N
        
      
      
        3I Infrastructure PLC
        549300SQ4ZSVSWC6H750
        3I Infrastructure PLC
        N/A
        
          
          
          
        
        26761
        NS
        
        121950.2
        1.4181028911
        Long
        EC
        RF
        JE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Creades AB (publ)
        549300MYLGD0VKNGTJ47
        Creades AB (publ)
        N/A
        
          
          
          
        
        69
        NS
        
        811.16
        0.0094326073
        Long
        EC
        CORP
        SE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Investmentaktiebolaget Latour
        5493006GFBLNB3Y0Y789
        Investmentaktiebolaget Latour
        N/A
        
          
          
          
        
        6434
        NS
        
        204802.19
        2.3815506472
        Long
        EC
        CORP
        SE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        SBI Holdings, Inc.
        353800L6LMHYIPSMRQ17
        SBI Holdings, Inc.
        N/A
        
          
          
          
        
        8700
        NS
        
        219365.32
        2.5508986004
        Long
        EC
        CORP
        JP
        
        N
        
        2
        
          N
          N
          
        
      
      
        Partners Group Holding AG
        549300I3IVVWZWDHI788
        Partners Group Holding AG
        N/A
        
          
          
          
        
        534
        NS
        
        663296.68
        7.7131725865
        Long
        EC
        CORP
        CH
        
        N
        
        2
        
          N
          N
          N
        
      
      
        BEENOS Inc.
        N/A
        BEENOS Inc.
        N/A
        
          
          
          
        
        100
        NS
        
        1905.54
        0.0221586499
        Long
        EC
        CORP
        JP
        
        N
        
        2
        
          N
          N
          N
        
      
      
        AURELIUS Equity Opportunities SE & Co. KGaA
        3912001SWR0QKOSUHR50
        AURELIUS Equity Opportunities SE & Co. KGaA
        N/A
        
          
          
          
        
        4554
        NS
        
        125804.84
        1.4629267301
        Long
        EC
        CORP
        DE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Brookfield Renewable Partners L.P.
        VA8DFMRI2GY8Y7V79H93
        Brookfield Renewable Partners L.P.
        N/A
        
          
          
          
        
        4713
        NS
        
        193738.21
        2.2528927030
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Frontier Digital Ventures Ltd
        N/A
        Frontier Digital Ventures Ltd
        N/A
        
          
          
          
        
        877
        NS
        
        860.37
        0.0100048478
        Long
        EC
        CORP
        AU
        
        N
        
        2
        
          N
          N
          N
        
      
      
        HgCapital Trust PLC
        213800J7QUJJBEFSIN38
        HgCapital Trust PLC
        N/A
        
          
          
          
        
        29736
        NS
        
        169173.85
        1.9672450376
        Long
        EC
        RF
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Molten Ventures PLC
        213800IPCR3SAYJWSW10
        Molten Ventures PLC
        N/A
        
          
          
          
        
        227
        NS
        
        2329.21
        0.0270853138
        Long
        EC
        CORP
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Apollo Global Management, Inc.
        54930054P2G7ZJB0KM79
        Apollo Global Management, Inc.
        03769M106
        
          
          
          
        
        6963
        NS
        USD
        431636.37
        5.0193011918
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Ares Management Corporation
        529900JUV61FH7B8VW38
        Ares Management Corporation
        03990B101
        
          
          
          
        
        4796
        NS
        USD
        389579.08
        4.5302362740
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        The Carlyle Group, Inc.
        529900NGGVF94UK6PG95
        The Carlyle Group, Inc.
        14316J108
        
          
          
          
        
        5365
        NS
        USD
        262402.15
        3.0513541392
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        JAFCO Group Co., Ltd.
        353800R7EWCVA2488G32
        JAFCO Group Co., Ltd.
        N/A
        
          
          
          
        
        6500
        NS
        
        99290.09
        1.1545988747
        Long
        EC
        CORP
        JP
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Wendel
        969500M98ZMIZYJD5O34
        Wendel
        N/A
        
          
          
          
        
        1539
        NS
        
        156861.58
        1.8240713020
        Long
        EC
        CORP
        FR
        
        N
        
        2
        
          N
          N
          N
        
      
      
        3i Group plc
        35GDVHRBMFE7NWATNM84
        3i Group plc
        N/A
        
          
          
          
        
        20098
        NS
        
        365681.81
        4.2523458918
        Long
        EC
        CORP
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Kinnevik AB
        2138006PZH76JOS6MN27
        Kinnevik AB
        N/A
        
          
          
          
        
        4759
        NS
        
        124706.71
        1.4501570804
        Long
        EC
        CORP
        SE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Patria Investments Ltd
        N/A
        Patria Investments Ltd
        N/A
        
          
          
          
        
        4031
        NS
        USD
        71792.11
        0.8348374890
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        GCM Grosvenor Inc.
        N/A
        GCM Grosvenor Inc.
        36831E108
        
          
          
          
        
        2490
        NS
        USD
        24177.9
        0.2811536995
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        Sofina
        5493000GMVR38VUO5D39
        Sofina
        N/A
        
          
          
          
        
        261
        NS
        
        94981.1
        1.1044916081
        Long
        EC
        CORP
        BE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        IP Group PLC
        213800HG22UM138WFG43
        IP Group PLC
        N/A
        
          
          
          
        
        18223
        NS
        
        21263.11
        0.2472589448
        Long
        EC
        CORP
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Ratos AB
        2138008KECUUB9VR4798
        Ratos AB
        N/A
        
          
          
          
        
        26694
        NS
        
        138180.62
        1.6068389942
        Long
        EC
        CORP
        SE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Safeguard Scientifics, Inc.
        529900EX0PJO7T5RU995
        Safeguard Scientifics, Inc.
        786449207
        
          
          
          
        
        137
        NS
        USD
        715.14
        0.0083160348
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        Bure Equity AB
        5493000EHCBQ7QQBGX32
        Bure Equity AB
        N/A
        
          
          
          
        
        3371
        NS
        
        110212.4
        1.2816094035
        Long
        EC
        CORP
        SE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        T. Rowe Price Group, Inc.
        549300SIV6FPS9Y7IH33
        T. Rowe Price Group, Inc.
        74144T108
        
          
          
          
        
        2629
        NS
        USD
        397478.51
        4.6220951190
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ONEX Corporation
        894500LB8PNE5C7CEN88
        ONEX Corporation
        68272K103
        
          
          
          
        
        3493
        NS
        
        234452.44
        2.7263397927
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          N
        
      
      
        EQT AB
        213800U7P9GOIRKCTB34
        EQT AB
        N/A
        
          
          
          
        
        11111
        NS
        
        437296.01
        5.0851145471
        Long
        EC
        CORP
        SE
        
        Y
        
        2
        
          N
          N
          N
        
      
      
        Eurazeo
        969500C656AA39O94N60
        Eurazeo
        N/A
        
          
          
          
        
        1769
        NS
        
        149072.05
        1.7334904337
        Long
        EC
        CORP
        FR
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Exor Nederland N.V.
        5493002ENHZ6NYET7405
        Exor Nederland N.V.
        N/A
        
          
          
          
        
        1690
        NS
        
        128758.38
        1.4972720908
        Long
        EC
        CORP
        NL
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Chrysalis Investments Limited
        213800F9SQ753JQHSW24
        Chrysalis Investments Limited
        N/A
        
          
          
          
        
        300
        NS
        
        698.43
        0.0081217218
        Long
        EC
        RF
        GG
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Alaris Royalty Corp.
        549300826Z5H44WQ2N67
        Alaris Royalty Corp.
        N/A
        
          
          
          
        
        69
        NS
        
        1117.2
        0.0129914059
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Puretech Health PLC
        213800LVPDNO2Z9T9I39
        Puretech Health PLC
        N/A
        
          
          
          
        
        29904
        NS
        
        77525.9
        0.9015131006
        Long
        EC
        CORP
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        JNL Government Money Market Fund
        N/A
        JNL Government Money Market Fund
        46628D437
        
          
        
        1500.89
        NS
        USD
        1500.89
        0.0174531608
        Long
        STIV
        RF
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        VNV Global AB (publ)
        549300ONMNSTOBAU0S14
        VNV Global AB (publ)
        N/A
        
          
          
          
        
        89
        NS
        
        474.59
        0.0055187892
        Long
        EC
        CORP
        SE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        RIT Capital Partners PLC
        P31Q1NLTW35JJGHA4667
        RIT Capital Partners PLC
        N/A
        
          
          
          
        
        559
        NS
        
        18615.39
        0.2164698244
        Long
        EC
        RF
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Encavis AG
        391200ECRGNL09Y2KJ67
        Encavis AG
        N/A
        
          
          
          
        
        7506
        NS
        
        157325.99
        1.8294717127
        Long
        EC
        CORP
        DE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Sievi Capital Oyj
        743700F6CLX8JMYDEP21
        Sievi Capital Oyj
        N/A
        
          
          
          
        
        6692
        NS
        
        11647.19
        0.1354398255
        Long
        EC
        CORP
        FI
        
        N
        
        2
        
          N
          N
          N
        
      
      
        CapMan Oyj
        743700498L5THNQWVL66
        CapMan Oyj
        N/A
        
          
          
          
        
        8914
        NS
        
        24481.5
        0.2846841246
        Long
        EC
        CORP
        FI
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Princess Private Equity Holding Limited
        54930038LU8RDPFFVJ57
        Princess Private Equity Holding Limited
        N/A
        
          
          
          
        
        2274
        NS
        
        30291.32
        0.3522438542
        Long
        EC
        RF
        GG
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Agronomics Limited
        21380029M8MPIEQ3TL31
        Agronomics Limited
        N/A
        
          
          
          
        
        121996
        NS
        
        30192.5
        0.3510947218
        Long
        EC
        CORP
        IT
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Mutares SE & Co. KGaA
        391200NWMO6NLQFSCU64
        Mutares SE & Co. KGaA
        N/A
        
          
          
          
        
        1964
        NS
        
        48354.08
        0.5622873980
        Long
        EC
        CORP
        DE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Intermediate Capital Group PLC
        549300OGASR5WRKJ8R68
        Intermediate Capital Group PLC
        N/A
        
          
          
          
        
        13831
        NS
        
        322648.17
        3.7519274481
        Long
        EC
        CORP
        GB
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Volati AB
        529900R2YHW43H9B4342
        Volati AB
        N/A
        
          
          
          
        
        3866
        NS
        
        62453.23
        0.7262399407
        Long
        EC
        CORP
        SE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Pacific Current Group Limited
        N/A
        Pacific Current Group Limited
        N/A
        
          
          
          
        
        198
        NS
        
        1127.54
        0.0131116450
        Long
        EC
        CORP
        AU
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Vinci Partners Investimentos Ltda
        N/A
        Vinci Partners Investimentos Ltda
        N/A
        
          
          
          
        
        97
        NS
        USD
        1343.45
        0.0156223633
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Blackstone Inc.
        5299004LW4QWGZUB8Y96
        Blackstone Inc.
        09260D107
        
          
          
          
        
        6887
        NS
        USD
        874235.78
        10.1660865428
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Gimv
        549300UFHGFY5IOON989
        Gimv
        N/A
        
          
          
          
        
        1654
        NS
        
        99753.32
        1.1599855637
        Long
        EC
        CORP
        BE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Ackermans
        5493005E2GHATS0Z6J59
        Ackermans
        N/A
        
          
          
          
        
        652
        NS
        
        121688.26
        1.4150569111
        Long
        EC
        CORP
        BE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Stepstone Group Inc.
        N/A
        Stepstone Group Inc.
        85914M107
        
          
          
          
        
        3706
        NS
        USD
        122520.36
        1.4247330200
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Deutsche Beteiligungs AG
        529900I88AOT7YXRMQ23
        Deutsche Beteiligungs AG
        N/A
        
          
          
          
        
        2397
        NS
        
        76032.51
        0.8841471539
        Long
        EC
        CORP
        DE
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Jackson National Asset Management, LLC
        N/A
        JNL Securities Lending Collateral Fund
        46628D411
        
          
        
        739.8
        NS
        USD
        739.8
        0.0086027946
        Long
        STIV
        RF
        US
        
        N
        
        1
        
          
          N
          N
        
      
    
    
      2022-05-25
      JNL Series Trust
      Andrew Tedeschi
      Andrew Tedeschi
      Principal Financial Officer
    
  
  XXXX




Untitled Document

JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

        
  

Shares 

 

Value ($) 

 

JNL/American Funds Balanced Fund

INVESTMENT COMPANIES 100.0%

Global Balanced 100.0%

 

American Funds Insurance Series - Asset Allocation Fund - Class 1 (a)

 

99,640

 

2,755,036

 
 

Total Investment Companies (cost $2,432,158)

2,755,036

 

Total Investments 100.0% (cost $2,432,158)

2,755,036

 

Other Assets and Liabilities, Net (0.0)%

(943)

 

Total Net Assets 100.0%

 

2,754,093

 

(a)  Investment in affiliate.

        

JNL/American Funds Bond Fund of America Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 100.0%

 

American Funds Insurance Series - Bond Fund of America - Class 1

 

9,636

 

102,429

 
 

Total Investment Companies (cost $107,687)

102,429

 

Total Investments 100.0% (cost $107,687)

102,429

 

Other Assets and Liabilities, Net (0.0)%

(32)

 

Total Net Assets 100.0%

 

102,397

 
        

JNL/American Funds Capital Income Builder Fund

INVESTMENT COMPANIES 100.0%

Global Balanced 100.0%

 

American Funds Insurance Series - Capital Income Builder Fund - Class 1 (a)

 

26,543

 

315,326

 
 

Total Investment Companies (cost $286,299)

315,326

 

Total Investments 100.0% (cost $286,299)

315,326

 

Other Assets and Liabilities, Net (0.0)%

(123)

 

Total Net Assets 100.0%

 

315,203

 

(a)  Investment in affiliate.

        

JNL/American Funds Capital World Bond Fund

INVESTMENT COMPANIES 100.0%

Global Fixed Income 100.0%

 

American Funds Insurance Series - Capital World Bond Fund - Class 1 (a)

 

39,862

 

430,507

 
 

Total Investment Companies (cost $476,507)

430,507

 

Total Investments 100.0% (cost $476,507)

430,507

 

Other Assets and Liabilities, Net (0.0)%

(153)

 

Total Net Assets 100.0%

 

430,354

 

(a)  Investment in affiliate.

        

JNL/American Funds Global Growth Fund

INVESTMENT COMPANIES 100.0%

Global Equity 100.0%

 

American Funds Insurance Series - Global Growth Fund - Class 1 (a)

 

22,154

 

871,096

 
 

Total Investment Companies (cost $752,737)

871,096

 

Total Investments 100.0% (cost $752,737)

871,096

 

Other Assets and Liabilities, Net (0.0)%

(259)

 

Total Net Assets 100.0%

 

870,837

 

(a)  Investment in affiliate.

        

JNL/American Funds Global Small Capitalization Fund

INVESTMENT COMPANIES 100.0%

Global Equity 100.0%

 

American Funds Insurance Series - Global Small Capitalization Fund - Class 1 (a)

 

26,899

 

784,641

 
 

Total Investment Companies (cost $674,447)

784,641

 

Total Investments 100.0% (cost $674,447)

784,641

 

Other Assets and Liabilities, Net (0.0)%

(247)

 

Total Net Assets 100.0%

 

784,394

 

(a)  Investment in affiliate.

        
  

Shares 

 

Value ($) 

 

JNL/American Funds Growth Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 100.0%

 

American Funds Insurance Series - Growth Fund - Class 1 (a)

 

35,504

 

4,129,436

 
 

Total Investment Companies (cost $3,424,883)

4,129,436

 

Total Investments 100.0% (cost $3,424,883)

4,129,436

 

Other Assets and Liabilities, Net (0.0)%

(1,217)

 

Total Net Assets 100.0%

 

4,128,219

 

(a)  Investment in affiliate.

        

JNL/American Funds Growth-Income Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 100.0%

 

American Funds Insurance Series - Growth-Income Fund - Class 1 (a)

 

155,915

 

9,933,342

 
 

Total Investment Companies (cost $7,559,657)

9,933,342

 

Total Investments 100.0% (cost $7,559,657)

9,933,342

 

Other Assets and Liabilities, Net (0.0)%

(3,648)

 

Total Net Assets 100.0%

 

9,929,694

 

(a)  Investment in affiliate.

        

JNL/American Funds International Fund

INVESTMENT COMPANIES 100.0%

International Equity 100.0%

 

American Funds Insurance Series - International Fund - Class 1 (a)

 

81,224

 

1,666,714

 
 

Total Investment Companies (cost $1,606,699)

1,666,714

 

Total Investments 100.0% (cost $1,606,699)

1,666,714

 

Other Assets and Liabilities, Net (0.0)%

(628)

 

Total Net Assets 100.0%

 

1,666,086

 

(a)  Investment in affiliate.

        

JNL/American Funds New World Fund

INVESTMENT COMPANIES 100.0%

Emerging Markets Equity 100.0%

 

American Funds Insurance Series - New World Fund - Class 1 (a)

 

55,363

 

1,578,946

 
 

Total Investment Companies (cost $1,321,481)

1,578,946

 

Total Investments 100.0% (cost $1,321,481)

1,578,946

 

Other Assets and Liabilities, Net (0.0)%

(660)

 

Total Net Assets 100.0%

 

1,578,286

 

(a)  Investment in affiliate.

        

JNL/American Funds Washington Mutual Investors Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 100.0%

 

American Funds Insurance Series - Washington Mutual Investors Fund - Class 1 (a)

 

218,895

 

3,881,000

 
 

Total Investment Companies (cost $2,976,852)

3,881,000

 

Total Investments 100.0% (cost $2,976,852)

3,881,000

 

Other Assets and Liabilities, Net (0.0)%

(1,537)

 

Total Net Assets 100.0%

 

3,879,463

 

(a)  Investment in affiliate.

        

JNL/Mellon Bond Index Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 100.0%

 

JNL Bond Index Fund - Class I (99.9%) (a)

 

126,192

 

1,196,296

 
 

Total Investment Companies (cost $1,262,037)

1,196,296

 

Total Investments 100.0% (cost $1,262,037)

1,196,296

 

Other Assets and Liabilities, Net (0.0)%

(252)

 

Total Net Assets 100.0%

 

1,196,044

 

1


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

      
  

Shares 

 

Value ($) 

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL/Mellon Emerging Markets Index Fund

INVESTMENT COMPANIES 100.0%

Emerging Markets Equity 100.0%

 

JNL Emerging Markets Index Fund - Class I (99.9%) (a)

 

114,881

 

989,123

 
 

Total Investment Companies (cost $1,146,369)

989,123

 

Total Investments 100.0% (cost $1,146,369)

989,123

 

Other Assets and Liabilities, Net (0.0)%

(272)

 

Total Net Assets 100.0%

 

988,851

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL/Mellon International Index Fund

INVESTMENT COMPANIES 100.0%

International Equity 100.0%

 

JNL International Index Fund - Class I (99.9%) (a)

 

252,314

 

2,424,735

 
 

Total Investment Companies (cost $2,523,480)

2,424,735

 

Total Investments 100.0% (cost $2,523,480)

2,424,735

 

Other Assets and Liabilities, Net (0.0)%

(537)

 

Total Net Assets 100.0%

 

2,424,198

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL/Mellon S&P 400 MidCap Index Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 100.0%

 

JNL Mid Cap Index Fund - Class I (100.0%) (a)

 

360,467

 

3,579,435

 
 

Total Investment Companies (cost $3,603,141)

3,579,435

 

Total Investments 100.0% (cost $3,603,141)

3,579,435

 

Other Assets and Liabilities, Net (0.0)%

(642)

 

Total Net Assets 100.0%

 

3,578,793

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL/Mellon Small Cap Index Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 100.0%

 

JNL Small Cap Index Fund - Class I (100.0%) (a)

 

279,224

 

2,758,732

 
 

Total Investment Companies (cost $2,793,510)

2,758,732

 

Total Investments 100.0% (cost $2,793,510)

2,758,732

 

Other Assets and Liabilities, Net (0.0)%

(507)

 

Total Net Assets 100.0%

 

2,758,225

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL Aggressive Growth Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 50.3%

 

JNL Multi-Manager Mid Cap Fund - Class I (9.8%) (a)

 

9,023

 

173,143

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (1.4%) (a)

 

958

 

42,080

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (2.9%) (a)

 

3,038

 

54,025

 
 

JNL/Baillie Gifford U.S. Equity Growth Fund - Class I (46.9%) (a)

 

7,588

 

49,927

 
 

JNL/DoubleLine Shiller Enhanced CAPE Fund - Class I (4.3%) (a)

 

4,983

 

113,025

 
 

JNL/JPMorgan U.S. Value Fund - Class I (4.7%) (a)

 

5,066

 

78,118

 
 

JNL/Morningstar Wide Moat Index Fund - Class I (11.6%) (a)

 

8,004

 

116,376

 
  

Shares 

 

Value ($) 

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (0.7%) (a)

 

1,101

 

78,003

 
 

JNL/T. Rowe Price Value Fund - Class I (2.0%) (a)

 

4,459

 

113,566

 
 

818,263

 

International Equity 19.8%

 

JNL Multi-Manager International Small Cap Fund - Class I (9.3%) (a)

 

5,211

 

71,027

 
 

JNL/Causeway International Value Select Fund - Class I (6.9%) (a)

 

6,888

 

111,036

 
 

JNL/WCM Focused International Equity Fund - Class I (7.2%) (a)

 

7,182

 

140,912

 
 

322,975

 

Global Equity 11.2%

 

JNL/Harris Oakmark Global Equity Fund - Class I (10.2%) (a)

 

6,663

 

89,813

 
 

JNL/Loomis Sayles Global Growth Fund - Class I (11.5%) (a)

 

6,329

 

92,844

 
 

182,657

 

Alternative 8.8%

 

JNL Multi-Manager Alternative Fund - Class I (1.5%) (a)

 

1,656

 

18,845

 
 

JNL/Blackrock Global Natural Resouces Fund - Class I (1.5%) (a)

 

1,474

 

20,195

 
 

JNL/First Sentier Global Infrastructure Fund - Class I (4.9%) (a)

 

2,730

 

50,063

 
 

JNL/Heitman U.S. Focused Real Estate Fund - Class I (10.9%) (a)

 

2,507

 

34,571

 
 

JNL/Neuberger Berman Commodity Strategy Fund - Class I (8.0%) (a)

 

516

 

9,015

 
 

JNL/Westchester Capital Event Driven Fund - Class I (8.4%) (a)

 

907

 

11,054

 
 

143,743

 

Emerging Markets Equity 6.9%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (4.4%) (a)

 

5,431

 

53,717

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (7.7%) (a)

 

4,522

 

58,788

 
 

112,505

 

Domestic Fixed Income 3.0%

 

JNL/DoubleLine Total Return Fund - Class I (2.1%) (a)

 

4,455

 

49,225

 
 

Total Investment Companies (cost $1,290,080)

1,629,368

 

Total Investments 100.0% (cost $1,290,080)

1,629,368

 

Other Assets and Liabilities, Net (0.0)%

(377)

 

Total Net Assets 100.0%

 

1,628,991

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

       

JNL Conservative Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 62.2%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (2.4%) (a)

 

5,907

 

84,113

 
 

JNL/DoubleLine Total Return Fund - Class I (4.5%) (a)

 

9,489

 

104,852

 
 

JNL/Lord Abbett Short Duration Income Fund - Class I (4.3%) (a)

 

3,196

 

32,629

 
 

JNL/PIMCO Income Fund - Class I (4.1%) (a)

 

5,882

 

64,055

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (2.7%) (a)

 

3,219

 

39,784

 
 

JNL/PIMCO Real Return Fund - Class I (0.8%) (a)

 

1,184

 

14,463

 
 

JNL/PPM America Total Return Fund - Class I (3.7%) (a)

 

4,962

 

64,451

 
 

JNL/T. Rowe Price U.S. High Yield Fund - Class I (7.3%) (a)

 

4,166

 

47,623

 
 

451,970

 

Alternative 9.8%

 

JNL Multi-Manager Alternative Fund - Class I (3.9%) (a)

 

4,352

 

49,529

 
 

JNL/First Sentier Global Infrastructure Fund - Class I (0.3%) (a)

 

143

 

2,620

 
 

JNL/Heitman U.S. Focused Real Estate Fund - Class I (0.6%) (a)

 

136

 

1,879

 

2


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

        
  

Shares 

 

Value ($) 

 
 

JNL/JPMorgan Hedged Equity Fund - Class I (1.8%) (a)

 

979

 

12,637

 
 

JNL/Neuberger Berman Commodity Strategy Fund - Class I (4.0%) (a)

 

258

 

4,499

 
 

71,164

 

Domestic Equity 9.6%

 

JNL Multi-Manager Mid Cap Fund - Class I (0.7%) (a)

 

681

 

13,063

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (0.2%) (a)

 

127

 

5,598

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (0.4%) (a)

 

412

 

7,320

 
 

JNL/DoubleLine Shiller Enhanced CAPE Fund - Class I (0.5%) (a)

 

626

 

14,199

 
 

JNL/JPMorgan U.S. Value Fund - Class I (0.8%) (a)

 

840

 

12,949

 
 

JNL/Morningstar Wide Moat Index Fund - Class I (1.7%) (a)

 

1,149

 

16,702

 
 

69,831

 

International Equity 7.1%

 

JNL/Blackrock Global Allocation Fund - Class I (1.0%) (a)

 

2,201

 

35,706

 
 

JNL/Causeway International Value Select Fund - Class I (0.2%) (a)

 

243

 

3,926

 
 

JNL/WCM Focused International Equity Fund - Class I (0.6%) (a)

 

591

 

11,594

 
 

51,226

 

Domestic Balanced 5.4%

 

JNL/T. Rowe Price Capital Appreciation Fund - Class I (0.3%) (a)

 

1,663

 

38,925

 

Emerging Markets Fixed Income 4.0%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (3.8%) (a)

 

2,560

 

29,312

 

Emerging Markets Equity 1.1%

 

JNL/GQG Emerging Markets Equity Fund - Class I (1.1%) (a)

 

628

 

8,164

 

Global Equity 0.8%

 

JNL/Loomis Sayles Global Growth Fund - Class I (0.7%) (a)

 

404

 

5,929

 
 

Total Investment Companies (cost $709,719)

726,521

 

Total Investments 100.0% (cost $709,719)

726,521

 

Other Assets and Liabilities, Net (0.0)%

(172)

 

Total Net Assets 100.0%

 

726,349

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL Growth Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 43.2%

 

JNL Multi-Manager Mid Cap Fund - Class I (12.5%) (a)

 

11,434

 

219,427

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (2.0%) (a)

 

1,319

 

57,913

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (4.1%) (a)

 

4,223

 

75,081

 
 

JNL/Baillie Gifford U.S. Equity Growth Fund - Class I (51.6%) (a)

 

8,345

 

54,912

 
 

JNL/DoubleLine Shiller Enhanced CAPE Fund - Class I (5.4%) (a)

 

6,358

 

144,201

 
 

JNL/JPMorgan U.S. Value Fund - Class I (6.5%) (a)

 

7,031

 

108,421

 
 

JNL/Morningstar Wide Moat Index Fund - Class I (15.0%) (a)

 

10,337

 

150,304

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (0.8%) (a)

 

1,313

 

93,075

 
 

JNL/T. Rowe Price Value Fund - Class I (2.5%) (a)

 

5,692

 

144,981

 
 

1,048,315

 

International Equity 18.5%

 

JNL Multi-Manager International Small Cap Fund - Class I (12.2%) (a)

 

6,869

 

93,622

 
 

JNL/Causeway International Value Select Fund - Class I (9.7%) (a)

 

9,592

 

154,615

 
 

JNL/WCM Focused International Equity Fund - Class I (10.3%) (a)

 

10,229

 

200,701

 
 

448,938

 
  

Shares 

 

Value ($) 

 

Domestic Fixed Income 12.2%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (1.3%) (a)

 

3,217

 

45,814

 
 

JNL/DoubleLine Total Return Fund - Class I (5.1%) (a)

 

10,737

 

118,649

 
 

JNL/Lord Abbett Short Duration Income Fund - Class I (4.0%) (a)

 

3,000

 

30,626

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (2.9%) (a)

 

3,382

 

41,796

 
 

JNL/T. Rowe Price U.S. High Yield Fund - Class I (9.0%) (a)

 

5,170

 

59,089

 
 

295,974

 

Alternative 10.2%

 

JNL Multi-Manager Alternative Fund - Class I (6.1%) (a)

 

6,759

 

76,923

 
 

JNL/Blackrock Global Natural Resouces Fund - Class I (1.6%) (a)

 

1,551

 

21,246

 
 

JNL/First Sentier Global Infrastructure Fund - Class I (7.1%) (a)

 

3,966

 

72,731

 
 

JNL/Heitman U.S. Focused Real Estate Fund - Class I (12.2%) (a)

 

2,810

 

38,755

 
 

JNL/Neuberger Berman Commodity Strategy Fund - Class I (11.0%) (a)

 

713

 

12,449

 
 

JNL/Westchester Capital Event Driven Fund - Class I (18.9%) (a)

 

2,055

 

25,029

 
 

247,133

 

Global Equity 8.7%

 

JNL/Harris Oakmark Global Equity Fund - Class I (11.1%) (a)

 

7,203

 

97,093

 
 

JNL/Loomis Sayles Global Growth Fund - Class I (14.1%) (a)

 

7,745

 

113,620

 
 

210,713

 

Emerging Markets Equity 5.7%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (5.1%) (a)

 

6,315

 

62,453

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (9.9%) (a)

 

5,824

 

75,710

 
 

138,163

 

Emerging Markets Fixed Income 1.5%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (4.8%) (a)

 

3,189

 

36,517

 
 

Total Investment Companies (cost $1,963,623)

2,425,753

 

Total Investments 100.0% (cost $1,963,623)

2,425,753

 

Other Assets and Liabilities, Net (0.0)%

(550)

 

Total Net Assets 100.0%

 

2,425,203

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

       

JNL Moderate Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 42.2%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (4.6%) (a)

 

11,308

 

161,025

 
 

JNL/DoubleLine Total Return Fund - Class I (10.9%) (a)

 

23,229

 

256,684

 
 

JNL/Lord Abbett Short Duration Income Fund - Class I (11.8%) (a)

 

8,782

 

89,670

 
 

JNL/PIMCO Income Fund - Class I (9.4%) (a)

 

13,456

 

146,532

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (6.9%) (a)

 

8,149

 

100,722

 
 

JNL/PIMCO Real Return Fund - Class I (2.7%) (a)

 

4,219

 

51,514

 
 

JNL/PPM America Total Return Fund - Class I (8.6%) (a)

 

11,440

 

148,609

 
 

JNL/T. Rowe Price U.S. High Yield Fund - Class I (18.5%) (a)

 

10,568

 

120,789

 
 

1,075,545

 

Domestic Equity 20.1%

 

JNL Multi-Manager Mid Cap Fund - Class I (5.5%) (a)

 

5,007

 

96,088

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (1.2%) (a)

 

832

 

36,520

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (2.9%) (a)

 

2,988

 

53,125

 

3


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

        
  

Shares 

 

Value ($) 

 
 

JNL/DoubleLine Shiller Enhanced CAPE Fund - Class I (3.0%) (a)

 

3,486

 

79,053

 
 

JNL/JPMorgan U.S. Value Fund - Class I (4.8%) (a)

 

5,140

 

79,263

 
 

JNL/Morningstar Wide Moat Index Fund - Class I (10.7%) (a)

 

7,410

 

107,744

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (0.5%) (a)

 

863

 

61,155

 
 

512,948

 

Alternative 11.2%

 

JNL Multi-Manager Alternative Fund - Class I (12.5%) (a)

 

13,891

 

158,079

 
 

JNL/First Sentier Global Infrastructure Fund - Class I (5.4%) (a)

 

3,047

 

55,878

 
 

JNL/Heitman U.S. Focused Real Estate Fund - Class I (4.6%) (a)

 

1,049

 

14,460

 
 

JNL/JPMorgan Hedged Equity Fund - Class I (5.6%) (a)

 

3,024

 

39,035

 
 

JNL/Neuberger Berman Commodity Strategy Fund - Class I (16.6%) (a)

 

1,069

 

18,669

 
 

286,121

 

International Equity 10.0%

 

JNL Multi-Manager International Small Cap Fund - Class I (3.8%) (a)

 

2,145

 

29,231

 
 

JNL/Blackrock Global Allocation Fund - Class I (2.6%) (a)

 

6,030

 

97,816

 
 

JNL/Causeway International Value Select Fund - Class I (3.2%) (a)

 

3,157

 

50,896

 
 

JNL/WCM Focused International Equity Fund - Class I (3.9%) (a)

 

3,880

 

76,125

 
 

254,068

 

Domestic Balanced 6.2%

 

JNL/T. Rowe Price Capital Appreciation Fund - Class I (1.3%) (a)

 

6,777

 

158,658

 

Global Equity 4.2%

 

JNL/Harris Oakmark Global Equity Fund - Class I (5.7%) (a)

 

3,685

 

49,680

 
 

JNL/Loomis Sayles Global Growth Fund - Class I (7.1%) (a)

 

3,888

 

57,033

 
 

106,713

 

Emerging Markets Fixed Income 3.5%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (11.8%) (a)

 

7,843

 

89,808

 

Emerging Markets Equity 2.6%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (2.3%) (a)

 

2,923

 

28,908

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (4.7%) (a)

 

2,746

 

35,698

 
 

64,606

 
 

Total Investment Companies (cost $2,230,475)

2,548,467

 

Total Investments 100.0% (cost $2,230,475)

2,548,467

 

Other Assets and Liabilities, Net (0.0)%

(643)

 

Total Net Assets 100.0%

 

2,547,824

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL Moderate Growth Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 29.3%

 

JNL Multi-Manager Mid Cap Fund - Class I (16.9%) (a)

 

15,503

 

297,510

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (2.8%) (a)

 

1,868

 

82,024

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (5.7%) (a)

 

5,959

 

105,946

 
 

JNL/DoubleLine Shiller Enhanced CAPE Fund - Class I (6.1%) (a)

 

7,143

 

162,001

 
 

JNL/JPMorgan U.S. Value Fund - Class I (9.7%) (a)

 

10,541

 

162,536

 
 

JNL/Morningstar Wide Moat Index Fund - Class I (19.2%) (a)

 

13,280

 

193,086

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (1.4%) (a)

 

2,279

 

161,532

 
 

JNL/T. Rowe Price Value Fund - Class I (3.2%) (a)

 

7,332

 

186,748

 
 

1,351,383

 
  

Shares 

 

Value ($) 

 

Domestic Fixed Income 25.3%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (5.7%) (a)

 

13,973

 

198,978

 
 

JNL/DoubleLine Total Return Fund - Class I (12.2%) (a)

 

25,971

 

286,977

 
 

JNL/Lord Abbett Short Duration Income Fund - Class I (13.8%) (a)

 

10,214

 

104,287

 
 

JNL/PIMCO Income Fund - Class I (9.4%) (a)

 

13,477

 

146,767

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (6.2%) (a)

 

7,344

 

90,772

 
 

JNL/PIMCO Real Return Fund - Class I (2.5%) (a)

 

3,828

 

46,733

 
 

JNL/PPM America Total Return Fund - Class I (7.7%) (a)

 

10,223

 

132,802

 
 

JNL/T. Rowe Price U.S. High Yield Fund - Class I (24.1%) (a)

 

13,786

 

157,578

 
 

1,164,894

 

International Equity 16.1%

 

JNL Multi-Manager International Small Cap Fund - Class I (11.3%) (a)

 

6,358

 

86,664

 
 

JNL/Blackrock Global Allocation Fund - Class I (4.1%) (a)

 

9,317

 

151,123

 
 

JNL/Causeway International Value Select Fund - Class I (14.5%) (a)

 

14,413

 

232,336

 
 

JNL/WCM Focused International Equity Fund - Class I (13.9%) (a)

 

13,852

 

271,777

 
 

741,900

 

Alternative 12.4%

 

JNL Multi-Manager Alternative Fund - Class I (17.9%) (a)

 

19,862

 

226,031

 
 

JNL/Blackrock Global Natural Resouces Fund - Class I (2.6%) (a)

 

2,551

 

34,950

 
 

JNL/First Sentier Global Infrastructure Fund - Class I (12.2%) (a)

 

6,829

 

125,250

 
 

JNL/Heitman U.S. Focused Real Estate Fund - Class I (22.0%) (a)

 

5,054

 

69,698

 
 

JNL/JPMorgan Hedged Equity Fund - Class I (9.9%) (a)

 

5,375

 

69,385

 
 

JNL/Neuberger Berman Commodity Strategy Fund - Class I (12.4%) (a)

 

798

 

13,931

 
 

JNL/Westchester Capital Event Driven Fund - Class I (25.3%) (a)

 

2,748

 

33,468

 
 

572,713

 

Domestic Balanced 5.8%

 

JNL/T. Rowe Price Capital Appreciation Fund - Class I (2.2%) (a)

 

11,384

 

266,496

 

Global Equity 5.1%

 

JNL/Harris Oakmark Global Equity Fund - Class I (11.6%) (a)

 

7,575

 

102,115

 
 

JNL/Loomis Sayles Global Growth Fund - Class I (16.8%) (a)

 

9,197

 

134,922

 
 

237,037

 

Emerging Markets Equity 4.0%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (6.9%) (a)

 

8,597

 

85,025

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (12.9%) (a)

 

7,558

 

98,253

 
 

183,278

 

Emerging Markets Fixed Income 2.0%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (12.1%) (a)

 

8,076

 

92,472

 
 

Total Investment Companies (cost $3,787,020)

4,610,173

 

Total Investments 100.0% (cost $3,787,020)

4,610,173

 

Other Assets and Liabilities, Net (0.0)%

(1,124)

 

Total Net Assets 100.0%

 

4,609,049

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

       

JNL/American Funds Growth Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 45.0%

 

American Funds Insurance Series - Growth Fund - Class 1

 

4,511

 

524,741

 

4


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

        
  

Shares 

 

Value ($) 

 
 

American Funds Investment Company of America Fund - Class R-6

 

12,563

 

617,876

 
 

American Funds Washington Mutual Investors Fund - Class R-6

 

9,643

 

570,026

 
 

1,712,643

 

Global Equity 18.9%

 

American Funds Insurance Series - Global Growth Fund - Class 1 (a)

 

11,780

 

463,187

 
 

American Funds SMALLCAP World Fund - Class R-6

 

3,646

 

255,845

 
 

719,032

 

Domestic Fixed Income 18.1%

 

American Funds Inflation Linked Bond Fund - Class R-6

 

4,392

 

47,125

 
 

American Funds Insurance Series - American High-Income Trust - Class 1 (a)

 

7,789

 

76,644

 
 

American Funds Insurance Series - Bond Fund of America - Class 1

 

25,172

 

267,574

 
 

American Funds Short Term Bond Fund of America - Class R-6

 

10,706

 

104,166

 
 

American Funds Strategic Bond Fund - Class R-6

 

17,546

 

191,423

 
 

686,932

 

International Equity 9.0%

 

American Funds EuroPacific Growth Fund - Class R-6

 

4,502

 

255,785

 
 

American Funds International Growth and Income Fund - Class R-6

 

2,391

 

85,297

 
 

341,082

 

Emerging Markets Equity 7.5%

 

American Funds New World Fund - Class R-6

 

3,722

 

286,860

 

Emerging Markets Fixed Income 1.5%

 

American Funds Emerging Markets Bond Fund - Class R-6

 

6,990

 

58,154

 
 

Total Investment Companies (cost $3,581,684)

3,804,703

 

Total Investments 100.0% (cost $3,581,684)

3,804,703

 

Other Assets and Liabilities, Net (0.0)%

(1,011)

 

Total Net Assets 100.0%

 

3,803,692

 

(a)  Investment in affiliate.

        

JNL/American Funds Moderate Growth Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 36.5%

 

American Funds Inflation Linked Bond Fund - Class R-6

 

4,016

 

43,093

 
 

American Funds Insurance Series - American High-Income Trust - Class 1 (a)

 

9,541

 

93,880

 
 

American Funds Insurance Series - Bond Fund of America - Class 1

 

46,138

 

490,451

 
 

American Funds Short Term Bond Fund of America - Class R-6

 

13,313

 

129,537

 
 

American Funds Strategic Bond Fund - Class R-6

 

26,489

 

288,995

 
 

1,045,956

 

Domestic Equity 34.9%

 

American Funds Insurance Series - Growth Fund - Class 1

 

2,338

 

271,910

 
 

American Funds Investment Company of America Fund - Class R-6

 

8,128

 

399,710

 
 

American Funds Washington Mutual Investors Fund - Class R-6

 

5,549

 

327,971

 
 

999,591

 

Global Equity 13.4%

 

American Funds Insurance Series - Global Growth Fund - Class 1

 

6,138

 

241,339

 
 

American Funds SMALLCAP World Fund - Class R-6

 

2,030

 

142,423

 
 

383,762

 

International Equity 8.2%

 

American Funds EuroPacific Growth Fund - Class R-6

 

2,753

 

156,391

 
 

American Funds International Growth and Income Fund - Class R-6

 

2,195

 

78,334

 
 

234,725

 
  

Shares 

 

Value ($) 

 

Emerging Markets Equity 4.5%

 

American Funds New World Fund - Class R-6

 

1,674

 

129,061

 

Emerging Markets Fixed Income 2.5%

 

American Funds Emerging Markets Bond Fund - Class R-6 (a)

 

8,734

 

72,670

 
 

Total Investment Companies (cost $2,846,091)

2,865,765

 

Total Investments 100.0% (cost $2,846,091)

2,865,765

 

Other Assets and Liabilities, Net (0.0)%

(542)

 

Total Net Assets 100.0%

 

2,865,223

 

(a)  Investment in affiliate.

        

JNL/Goldman Sachs Managed Aggressive Growth Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 65.5%

 

JNL Multi-Manager Mid Cap Fund - Class I (4.9%) (a)

 

4,502

 

86,394

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (0.8%) (a)

 

557

 

24,453

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (2.6%) (a)

 

2,752

 

48,932

 
 

JNL/BlackRock Large Cap Select Growth Fund - Class I (4.2%) (a)

 

2,929

 

199,725

 
 

JNL/ClearBridge Large Cap Growth Fund - Class I (14.0%) (a)

 

9,850

 

199,060

 
 

JNL/Invesco Diversified Dividend Fund - Class I (13.4%) (a)

 

10,280

 

146,900

 
 

JNL/JPMorgan MidCap Growth Fund - Class I (1.8%) (a)

 

994

 

61,985

 
 

JNL/JPMorgan U.S. Value Fund - Class I (2.9%) (a)

 

3,189

 

49,171

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (2.5%) (a)

 

4,095

 

290,250

 
 

JNL/T. Rowe Price Mid-Cap Growth Fund - Class I (0.4%) (a)

 

339

 

25,140

 
 

JNL/T. Rowe Price Value Fund - Class I (6.0%) (a)

 

13,546

 

345,015

 
 

JNL/WMC Value Fund - Class I (8.7%) (a)

 

4,633

 

146,723

 
 

1,623,748

 

International Equity 16.0%

 

JNL/Causeway International Value Select Fund - Class I (6.9%) (a)

 

6,886

 

110,999

 
 

JNL/Invesco International Growth Fund - Class I (4.5%) (a)

 

3,241

 

48,492

 
 

JNL/Lazard International Strategic Equity Fund - Class I (14.5%) (a)

 

5,471

 

86,339

 
 

JNL/WCM Focused International Equity Fund - Class I (7.6%) (a)

 

7,603

 

149,173

 
 

395,003

 

Global Equity 6.0%

 

JNL/Invesco Global Growth Fund - Class I (6.8%) (a)

 

6,250

 

149,325

 

Domestic Fixed Income 4.0%

 

JNL/DoubleLine Total Return Fund - Class I (1.1%) (a)

 

2,241

 

24,760

 
 

JNL/PPM America High Yield Bond Fund - Class I (1.3%) (a)

 

1,434

 

25,075

 
 

JNL/PPM America Total Return Fund - Class I (2.8%) (a)

 

3,803

 

49,399

 
 

99,234

 

Emerging Markets Equity 3.5%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (4.0%) (a)

 

5,040

 

49,848

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (5.0%) (a)

 

2,914

 

37,881

 
 

87,729

 

Alternative 3.0%

 

JNL Multi-Manager Alternative Fund - Class I (5.9%) (a)

 

6,539

 

74,410

 

Emerging Markets Fixed Income 2.0%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (6.4%) (a)

 

4,274

 

48,939

 
 

Total Investment Companies (cost $1,855,829)

2,478,388

 

Total Investments 100.0% (cost $1,855,829)

2,478,388

 

Other Assets and Liabilities, Net (0.0)%

(577)

 

Total Net Assets 100.0%

 

2,477,811

 

5


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

      
  

Shares 

 

Value ($) 

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL/Goldman Sachs Managed Conservative Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 69.3%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (2.2%) (a)

 

5,232

 

74,501

 
 

JNL/DoubleLine Total Return Fund - Class I (4.5%) (a)

 

9,599

 

106,075

 
 

JNL/Fidelity Institutional Asset Management Total Bond Fund - Class I (5.7%) (a)

 

5,985

 

74,877

 
 

JNL/JPMorgan U.S. Government & Quality Bond Fund - Class I (4.6%) (a)

 

5,207

 

74,363

 
 

JNL/Lord Abbett Short Duration Income Fund - Class I (5.6%) (a)

 

4,158

 

42,449

 
 

JNL/PIMCO Income Fund - Class I (3.4%) (a)

 

4,899

 

53,350

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (8.0%) (a)

 

9,543

 

117,949

 
 

JNL/PIMCO Real Return Fund - Class I (2.2%) (a)

 

3,446

 

42,076

 
 

JNL/PPM America High Yield Bond Fund - Class I (1.1%) (a)

 

1,215

 

21,245

 
 

JNL/PPM America Total Return Fund - Class I (4.3%) (a)

 

5,734

 

74,484

 
 

JNL/T. Rowe Price Short-Term Bond Fund - Class I (2.1%) (a)

 

3,004

 

31,427

 
 

JNL/T. Rowe Price U.S. High Yield Fund - Class I (3.3%) (a)

 

1,868

 

21,349

 
 

734,145

 

Domestic Equity 15.2%

 

JNL Multi-Manager Mid Cap Fund - Class I (0.6%) (a)

 

553

 

10,606

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (0.4%) (a)

 

241

 

10,576

 
 

JNL/BlackRock Large Cap Select Growth Fund - Class I (0.4%) (a)

 

310

 

21,148

 
 

JNL/ClearBridge Large Cap Growth Fund - Class I (0.7%) (a)

 

524

 

10,596

 
 

JNL/DFA U.S. Core Equity Fund - Class I (1.6%) (a)

 

1,062

 

25,580

 
 

JNL/Invesco Diversified Dividend Fund - Class I (1.8%) (a)

 

1,410

 

20,145

 
 

JNL/JPMorgan MidCap Growth Fund - Class I (0.3%) (a)

 

170

 

10,589

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (0.2%) (a)

 

299

 

21,178

 
 

JNL/T. Rowe Price Value Fund - Class I (0.5%) (a)

 

1,215

 

30,948

 
 

161,366

 

Global Fixed Income 4.0%

 

JNL/Neuberger Berman Strategic Income Fund - Class I (5.1%) (a)

 

3,543

 

42,695

 

International Equity 3.5%

 

JNL/Causeway International Value Select Fund - Class I (0.7%) (a)

 

660

 

10,638

 
 

JNL/Lazard International Strategic Equity Fund - Class I (1.8%) (a)

 

668

 

10,547

 
 

JNL/WCM Focused International Equity Fund - Class I (0.8%) (a)

 

821

 

16,115

 
 

37,300

 

Emerging Markets Fixed Income 3.0%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (4.2%) (a)

 

2,794

 

31,994

 

Alternative 3.0%

 

JNL Multi-Manager Alternative Fund - Class I (2.5%) (a)

 

2,806

 

31,928

 

Emerging Markets Equity 1.0%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (0.9%) (a)

 

1,093

 

10,810

 

Global Equity 1.0%

 

JNL/Invesco Global Growth Fund - Class I (0.5%) (a)

 

435

 

10,387

 
 

Total Investment Companies (cost $988,271)

1,060,625

 

Total Investments 100.0% (cost $988,271)

1,060,625

 

Other Assets and Liabilities, Net (0.0)%

(294)

 

Total Net Assets 100.0%

 

1,060,331

 
      
  

Shares 

 

Value ($) 

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL/Goldman Sachs Managed Growth Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 60.6%

 

JNL Multi-Manager Mid Cap Fund - Class I (10.3%) (a)

 

9,417

 

180,703

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (1.8%) (a)

 

1,175

 

51,599

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (5.5%) (a)

 

5,751

 

102,252

 
 

JNL/BlackRock Large Cap Select Growth Fund - Class I (7.1%) (a)

 

4,975

 

339,223

 
 

JNL/ClearBridge Large Cap Growth Fund - Class I (25.8%) (a)

 

18,096

 

365,712

 
 

JNL/Invesco Diversified Dividend Fund - Class I (28.0%) (a)

 

21,499

 

307,220

 
 

JNL/JPMorgan MidCap Growth Fund - Class I (3.7%) (a)

 

2,085

 

130,052

 
 

JNL/JPMorgan U.S. Value Fund - Class I (6.2%) (a)

 

6,671

 

102,873

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (5.3%) (a)

 

8,608

 

610,064

 
 

JNL/T. Rowe Price Mid-Cap Growth Fund - Class I (0.8%) (a)

 

708

 

52,494

 
 

JNL/T. Rowe Price Value Fund - Class I (10.8%) (a)

 

24,351

 

620,233

 
 

JNL/WMC Value Fund - Class I (16.7%) (a)

 

8,914

 

282,295

 
 

3,144,720

 

Domestic Fixed Income 13.9%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (3.0%) (a)

 

7,249

 

103,226

 
 

JNL/DoubleLine Total Return Fund - Class I (4.4%) (a)

 

9,324

 

103,026

 
 

JNL/Fidelity Institutional Asset Management Total Bond Fund - Class I (3.9%) (a)

 

4,117

 

51,507

 
 

JNL/PIMCO Income Fund - Class I (3.3%) (a)

 

4,778

 

52,031

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (7.0%) (a)

 

8,361

 

103,340

 
 

JNL/PIMCO Real Return Fund - Class I (5.4%) (a)

 

8,399

 

102,556

 
 

JNL/PPM America High Yield Bond Fund - Class I (3.9%) (a)

 

4,439

 

77,633

 
 

JNL/PPM America Total Return Fund - Class I (7.4%) (a)

 

9,940

 

129,125

 
 

722,444

 

International Equity 12.9%

 

JNL/Causeway International Value Select Fund - Class I (11.3%) (a)

 

11,191

 

180,392

 
 

JNL/Invesco International Growth Fund - Class I (9.6%) (a)

 

6,827

 

102,139

 
 

JNL/Lazard International Strategic Equity Fund - Class I (26.0%) (a)

 

9,774

 

154,228

 
 

JNL/WCM Focused International Equity Fund - Class I (11.9%) (a)

 

11,914

 

233,763

 
 

670,522

 

Global Equity 4.5%

 

JNL/Invesco Global Growth Fund - Class I (10.6%) (a)

 

9,855

 

235,436

 

Emerging Markets Equity 3.1%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (6.4%) (a)

 

7,979

 

78,917

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (10.3%) (a)

 

6,080

 

79,045

 
 

157,962

 

Alternative 3.0%

 

JNL Multi-Manager Alternative Fund - Class I (12.3%) (a)

 

13,648

 

155,312

 

Emerging Markets Fixed Income 2.0%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (13.7%) (a)

 

9,110

 

104,304

 
 

Total Investment Companies (cost $3,987,189)

5,190,700

 

Total Investments 100.0% (cost $3,987,189)

5,190,700

 

Other Assets and Liabilities, Net (0.0)%

(1,200)

 

Total Net Assets 100.0%

 

5,189,500

 

6


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

      
  

Shares 

 

Value ($) 

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL/Goldman Sachs Managed Moderate Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 50.9%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (2.9%) (a)

 

6,964

 

99,172

 
 

JNL/DoubleLine Total Return Fund - Class I (5.8%) (a)

 

12,303

 

135,949

 
 

JNL/Fidelity Institutional Asset Management Total Bond Fund - Class I (7.5%) (a)

 

7,930

 

99,200

 
 

JNL/JPMorgan U.S. Government & Quality Bond Fund - Class I (7.7%) (a)

 

8,661

 

123,680

 
 

JNL/Lord Abbett Short Duration Income Fund - Class I (13.0%) (a)

 

9,655

 

98,581

 
 

JNL/PIMCO Income Fund - Class I (6.4%) (a)

 

9,113

 

99,243

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (13.6%) (a)

 

16,146

 

199,569

 
 

JNL/PIMCO Real Return Fund - Class I (3.8%) (a)

 

5,969

 

72,888

 
 

JNL/PPM America High Yield Bond Fund - Class I (2.5%) (a)

 

2,855

 

49,931

 
 

JNL/PPM America Total Return Fund - Class I (10.0%) (a)

 

13,363

 

173,584

 
 

JNL/T. Rowe Price Short-Term Bond Fund - Class I (4.9%) (a)

 

7,038

 

73,615

 
 

JNL/T. Rowe Price U.S. High Yield Fund - Class I (5.8%) (a)

 

3,306

 

37,792

 
 

1,263,204

 

Domestic Equity 30.6%

 

JNL Multi-Manager Mid Cap Fund - Class I (2.8%) (a)

 

2,593

 

49,756

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (0.8%) (a)

 

564

 

24,758

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (1.3%) (a)

 

1,380

 

24,545

 
 

JNL/BlackRock Large Cap Select Growth Fund - Class I (1.3%) (a)

 

911

 

62,089

 
 

JNL/ClearBridge Large Cap Growth Fund - Class I (4.4%) (a)

 

3,089

 

62,422

 
 

JNL/DFA U.S. Core Equity Fund - Class I (3.9%) (a)

 

2,549

 

61,400

 
 

JNL/Invesco Diversified Dividend Fund - Class I (7.8%) (a)

 

6,014

 

85,944

 
 

JNL/JPMorgan MidCap Growth Fund - Class I (1.4%) (a)

 

795

 

49,578

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (1.3%) (a)

 

2,141

 

151,738

 
 

JNL/T. Rowe Price Value Fund - Class I (2.6%) (a)

 

5,846

 

148,897

 
 

JNL/WMC Value Fund - Class I (2.2%) (a)

 

1,163

 

36,848

 
 

757,975

 

International Equity 8.0%

 

JNL/Causeway International Value Select Fund - Class I (2.3%) (a)

 

2,321

 

37,409

 
 

JNL/Invesco International Growth Fund - Class I (2.3%) (a)

 

1,621

 

24,255

 
 

JNL/Lazard International Strategic Equity Fund - Class I (12.5%) (a)

 

4,700

 

74,159

 
 

JNL/WCM Focused International Equity Fund - Class I (3.2%) (a)

 

3,171

 

62,207

 
 

198,030

 

Emerging Markets Fixed Income 3.0%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (9.8%) (a)

 

6,547

 

74,962

 

Alternative 3.0%

 

JNL Multi-Manager Alternative Fund - Class I (5.9%) (a)

 

6,540

 

74,424

 

Global Fixed Income 2.0%

 

JNL/Neuberger Berman Strategic Income Fund - Class I (6.0%) (a)

 

4,119

 

49,640

 

Emerging Markets Equity 1.5%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (2.0%) (a)

 

2,550

 

25,221

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (1.7%) (a)

 

976

 

12,684

 
 

37,905

 
  

Shares 

 

Value ($) 

 

Global Equity 1.0%

 

JNL/Invesco Global Growth Fund - Class I (1.1%) (a)

 

1,037

 

24,763

 
 

Total Investment Companies (cost $2,186,315)

2,480,903

 

Total Investments 100.0% (cost $2,186,315)

2,480,903

 

Other Assets and Liabilities, Net (0.0)%

(629)

 

Total Net Assets 100.0%

 

2,480,274

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

       

JNL/Goldman Sachs Managed Moderate Growth Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 45.6%

 

JNL Multi-Manager Mid Cap Fund - Class I (8.6%) (a)

 

7,925

 

152,079

 
 

JNL Multi-Manager Small Cap Growth Fund - Class I (1.7%) (a)

 

1,152

 

50,581

 
 

JNL Multi-Manager Small Cap Value Fund - Class I (2.7%) (a)

 

2,812

 

50,002

 
 

JNL/BlackRock Large Cap Select Growth Fund - Class I (4.2%) (a)

 

2,980

 

203,185

 
 

JNL/ClearBridge Large Cap Growth Fund - Class I (16.3%) (a)

 

11,407

 

230,531

 
 

JNL/Invesco Diversified Dividend Fund - Class I (18.2%) (a)

 

13,971

 

199,653

 
 

JNL/JPMorgan MidCap Growth Fund - Class I (2.9%) (a)

 

1,629

 

101,634

 
 

JNL/JPMorgan U.S. Value Fund - Class I (4.5%) (a)

 

4,903

 

75,598

 
 

JNL/T. Rowe Price Established Growth Fund - Class I (4.5%) (a)

 

7,324

 

519,070

 
 

JNL/T. Rowe Price Mid-Cap Growth Fund - Class I (0.8%) (a)

 

688

 

51,050

 
 

JNL/T. Rowe Price Value Fund - Class I (7.9%) (a)

 

17,825

 

453,992

 
 

JNL/WMC Value Fund - Class I (13.3%) (a)

 

7,107

 

225,069

 
 

2,312,444

 

Domestic Fixed Income 32.9%

 

JNL/DoubleLine Core Fixed Income Fund - Class I (5.1%) (a)

 

12,436

 

177,087

 
 

JNL/DoubleLine Total Return Fund - Class I (9.7%) (a)

 

20,532

 

226,883

 
 

JNL/Fidelity Institutional Asset Management Total Bond Fund - Class I (9.6%) (a)

 

10,114

 

126,521

 
 

JNL/JPMorgan U.S. Government & Quality Bond Fund - Class I (11.0%) (a)

 

12,376

 

176,726

 
 

JNL/Lord Abbett Short Duration Income Fund - Class I (6.6%) (a)

 

4,927

 

50,308

 
 

JNL/PIMCO Income Fund - Class I (8.2%) (a)

 

11,678

 

127,178

 
 

JNL/PIMCO Investment Grade Credit Bond Fund - Class I (13.9%) (a)

 

16,485

 

203,753

 
 

JNL/PIMCO Real Return Fund - Class I (6.5%) (a)

 

10,193

 

124,456

 
 

JNL/PPM America High Yield Bond Fund - Class I (5.1%) (a)

 

5,798

 

101,405

 
 

JNL/PPM America Total Return Fund - Class I (14.6%) (a)

 

19,536

 

253,774

 
 

JNL/T. Rowe Price Short-Term Bond Fund - Class I (3.3%) (a)

 

4,787

 

50,071

 
 

JNL/T. Rowe Price U.S. High Yield Fund - Class I (7.8%) (a)

 

4,454

 

50,906

 
 

1,669,068

 

International Equity 10.5%

 

JNL/Causeway International Value Select Fund - Class I (7.9%) (a)

 

7,867

 

126,821

 
 

JNL/Invesco International Growth Fund - Class I (4.7%) (a)

 

3,344

 

50,030

 
 

JNL/Lazard International Strategic Equity Fund - Class I (25.5%) (a)

 

9,605

 

151,571

 
 

JNL/WCM Focused International Equity Fund - Class I (10.4%) (a)

 

10,412

 

204,287

 
 

532,709

 

Global Equity 3.0%

 

JNL/Invesco Global Growth Fund - Class I (6.9%) (a)

 

6,370

 

152,190

 

Alternative 3.0%

 

JNL Multi-Manager Alternative Fund - Class I (12.0%) (a)

 

13,368

 

152,125

 

7


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

        
  

Shares 

 

Value ($) 

 

Emerging Markets Equity 2.0%

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I (4.2%) (a)

 

5,219

 

51,615

 
 

JNL/GQG Emerging Markets Equity Fund - Class I (6.7%) (a)

 

3,947

 

51,308

 
 

102,923

 

Emerging Markets Fixed Income 2.0%

 

JNL/DoubleLine Emerging Markets Fixed Income Fund - Class I (13.4%) (a)

 

8,915

 

102,078

 

Global Fixed Income 1.0%

 

JNL/Neuberger Berman Strategic Income Fund - Class I (6.1%) (a)

 

4,224

 

50,894

 
 

Total Investment Companies (cost $4,168,137)

5,074,431

 

Total Investments 100.0% (cost $4,168,137)

5,074,431

 

Other Assets and Liabilities, Net (0.0)%

(1,224)

 

Total Net Assets 100.0%

 

5,073,207

 

(a)  The Fund's percentage ownership of the underlying affiliated fund at March 31, 2022 is presented parenthetically. The Fund does not invest in the underlying affiliated funds for the purpose of exercising management or control.

        

JNL iShares Tactical Growth Fund

INVESTMENT COMPANIES 98.6%

Domestic Equity 50.1%

 

iShares Cohen & Steers REIT ETF (a)

 

110

 

7,829

 
 

iShares Core Dividend Growth ETF (a)

 

386

 

20,615

 
 

iShares Core S&P 500 ETF

 

42

 

19,225

 
 

iShares Core S&P Mid-Cap ETF

 

97

 

26,134

 
 

iShares Edge MSCI USA Quality Factor ETF

 

210

 

28,325

 
 

iShares Morningstar Large-Cap Value ETF

 

377

 

25,864

 
 

iShares S&P Small-Cap 600 Value ETF (a)

 

148

 

15,100

 
 

iShares S&P Small-Cap ETF

 

86

 

9,233

 
 

iShares U.S. Technology ETF (a)

 

142

 

14,578

 
 

166,903

 

Domestic Fixed Income 14.9%

 

iShares 0-5 Year High Yield Corporate Bond ETF (a)

 

172

 

7,571

 
 

iShares Core Total U.S. Bond Market ETF

 

169

 

18,098

 
 

iShares Intermediate-Term Corp. ETF

 

81

 

4,433

 
 

iShares Liquidity Income ETF (a)

 

208

 

10,423

 
 

iShares MBS ETF

 

89

 

9,032

 
 

49,557

 

Global Equity 13.5%

 

iShares Exponential Technologies ETF

 

169

 

9,975

 
 

iShares Global Healthcare ETF (a)

 

224

 

19,637

 
 

iShares Global Infrastructure ETF (a)

 

304

 

15,470

 
 

45,082

 

International Equity 10.8%

 

iShares Edge MSCI Intl Quality Factor ETF (a)

 

770

 

28,391

 
 

iShares MSCI EAFE Small Cap Index ETF

 

112

 

7,433

 
 

35,824

 

Emerging Markets Equity 7.9%

 

iShares Core MSCI Emerging Markets ETF

 

471

 

26,183

 

Emerging Markets Fixed Income 1.4%

 

iShares JPMorgan USD Emerging Markets Bond ETF

 

46

 

4,525

 
 

Total Investment Companies (cost $282,530)

328,074

 

SHORT TERM INVESTMENTS 22.3%

Securities Lending Collateral 20.9%

 

JNL Securities Lending Collateral Fund, 0.23% (b) (c)

 

69,609

 

69,609

 

Investment Companies 1.4%

 

JNL Government Money Market Fund, 0.01% (b) (c)

 

4,746

 

4,746

 
 

Total Short Term Investments (cost $74,355)

74,355

 

Total Investments 120.9% (cost $356,885)

402,429

 

Other Assets and Liabilities, Net (20.9)%

(69,581)

 

Total Net Assets 100.0%

 

332,848

 

(a)  All or a portion of the security was on loan as of March 31, 2022.

(b)  Investment in affiliate.

(c)  Yield changes daily to reflect current market conditions. Rate was the quoted yield as of March 31, 2022.

        
  

Shares 

 

Value ($) 

 

JNL iShares Tactical Moderate Fund

INVESTMENT COMPANIES 100.0%

Domestic Fixed Income 51.6%

 

iShares 0-5 Year High Yield Corporate Bond ETF (a)

 

340

 

14,948

 
 

iShares 0-5 Year TIPS Bond ETF (a)

 

68

 

7,174

 
 

iShares Core Total U.S. Bond Market ETF

 

338

 

36,210

 
 

iShares Intermediate-Term Corp. ETF (a)

 

207

 

11,370

 
 

iShares Liquidity Income ETF (a)

 

373

 

18,703

 
 

iShares MBS ETF (a)

 

182

 

18,503

 
 

106,908

 

Domestic Equity 26.9%

 

iShares Cohen & Steers REIT ETF (a)

 

23

 

1,634

 
 

iShares Core Dividend Growth ETF

 

98

 

5,240

 
 

iShares Core S&P 500 ETF

 

19

 

8,608

 
 

iShares Core S&P Mid-Cap ETF

 

34

 

9,065

 
 

iShares Edge MSCI USA Quality Factor ETF

 

85

 

11,472

 
 

iShares Morningstar Large-Cap Value ETF

 

98

 

6,749

 
 

iShares S&P Small-Cap 600 Value ETF (a)

 

49

 

4,975

 
 

iShares S&P Small-Cap ETF

 

25

 

2,729

 
 

iShares U.S. Technology ETF (a)

 

52

 

5,333

 
 

55,805

 

Global Equity 7.3%

 

iShares Exponential Technologies ETF (a)

 

53

 

3,140

 
 

iShares Global Healthcare ETF (a)

 

82

 

7,141

 
 

iShares Global Infrastructure ETF

 

93

 

4,735

 
 

15,016

 

International Equity 6.4%

 

iShares Edge MSCI Intl Quality Factor ETF (a)

 

295

 

10,874

 
 

iShares MSCI EAFE Small Cap Index ETF

 

36

 

2,391

 
 

13,265

 

Emerging Markets Fixed Income 4.0%

 

iShares JPMorgan USD Emerging Markets Bond ETF

 

84

 

8,223

 

Emerging Markets Equity 3.8%

 

iShares Core MSCI Emerging Markets ETF

 

143

 

7,960

 
 

Total Investment Companies (cost $199,892)

207,177

 

SHORT TERM INVESTMENTS 27.4%

Securities Lending Collateral 27.1%

 

JNL Securities Lending Collateral Fund, 0.23% (b) (c)

 

56,141

 

56,141

 

Investment Companies 0.3%

 

JNL Government Money Market Fund, 0.01% (b) (c)

 

667

 

667

 
 

Total Short Term Investments (cost $56,808)

56,808

 

Total Investments 127.4% (cost $256,700)

263,985

 

Other Assets and Liabilities, Net (27.4)%

(56,800)

 

Total Net Assets 100.0%

 

207,185

 

(a)  All or a portion of the security was on loan as of March 31, 2022.

(b)  Investment in affiliate.

(c)  Yield changes daily to reflect current market conditions. Rate was the quoted yield as of March 31, 2022.

       

JNL iShares Tactical Moderate Growth Fund

INVESTMENT COMPANIES 99.1%

Domestic Equity 38.2%

 

iShares Cohen & Steers REIT ETF (a)

 

78

 

5,515

 
 

iShares Core Dividend Growth ETF (a)

 

304

 

16,209

 
 

iShares Core S&P 500 ETF

 

38

 

17,409

 
 

iShares Core S&P Mid-Cap ETF

 

77

 

20,611

 
 

iShares Edge MSCI USA Quality Factor ETF

 

190

 

25,520

 
 

iShares Morningstar Large-Cap Value ETF

 

260

 

17,811

 
 

iShares S&P Small-Cap 600 Value ETF (a)

 

115

 

11,820

 
 

iShares S&P Small-Cap ETF

 

67

 

7,228

 
 

iShares U.S. Technology ETF (a)

 

114

 

11,769

 
 

133,892

 

Domestic Fixed Income 32.9%

 

iShares 0-5 Year High Yield Corporate Bond ETF (a)

 

384

 

16,888

 
 

iShares 0-5 Year TIPS Bond ETF

 

53

 

5,507

 
 

iShares Core Total U.S. Bond Market ETF

 

367

 

39,264

 
 

iShares Intermediate-Term Corp. ETF (a)

 

228

 

12,522

 
 

iShares Liquidity Income ETF (a)

 

402

 

20,181

 

8


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

        
  

Shares 

 

Value ($) 

 
 

iShares MBS ETF

 

204

 

20,813

 
 

115,175

 

Global Equity 10.4%

 

iShares Exponential Technologies ETF (a)

 

149

 

8,809

 
 

iShares Global Healthcare ETF (a)

 

179

 

15,714

 
 

iShares Global Infrastructure ETF

 

231

 

11,754

 
 

36,277

 

International Equity 9.4%

 

iShares Edge MSCI Intl Quality Factor ETF (a)

 

745

 

27,468

 
 

iShares MSCI EAFE Small Cap Index ETF

 

84

 

5,576

 
 

33,044

 

Emerging Markets Equity 5.9%

 

iShares Core MSCI Emerging Markets ETF

 

370

 

20,542

 

Emerging Markets Fixed Income 2.3%

 

iShares JPMorgan USD Emerging Markets Bond ETF

 

82

 

7,980

 
 

Total Investment Companies (cost $307,745)

346,910

 

SHORT TERM INVESTMENTS 17.6%

Securities Lending Collateral 16.6%

 

JNL Securities Lending Collateral Fund, 0.23% (b) (c)

 

58,220

 

58,220

 

Investment Companies 1.0%

 

JNL Government Money Market Fund, 0.01% (b) (c)

 

3,407

 

3,407

 
 

Total Short Term Investments (cost $61,627)

61,627

 

Total Investments 116.7% (cost $369,372)

408,537

 

Other Assets and Liabilities, Net (16.7)%

(58,486)

 

Total Net Assets 100.0%

 

350,051

 

(a)  All or a portion of the security was on loan as of March 31, 2022.

(b)  Investment in affiliate.

(c)  Yield changes daily to reflect current market conditions. Rate was the quoted yield as of March 31, 2022.

        

JNL/Vanguard Growth ETF Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 53.7%

 

Vanguard Dividend Appreciation ETF (a)

 

1,026

 

166,412

 
 

Vanguard Growth ETF (a)

 

738

 

212,343

 
 

Vanguard Mid-Cap ETF (a)

 

482

 

114,541

 
 

Vanguard REIT ETF

 

598

 

64,756

 
 

Vanguard Small-Cap ETF (a)

 

563

 

119,619

 
 

Vanguard Total Stock Market ETF (a)

 

1,331

 

303,026

 
 

Vanguard Value ETF

 

1,658

 

245,042

 
 

1,225,739

 

International Equity 19.2%

 

Vanguard FTSE All-World ex-US Small-Cap Index ETF (a)

 

413

 

51,159

 
 

Vanguard FTSE Developed Markets ETF (a)

 

8,063

 

387,285

 
 

438,444

 

Domestic Fixed Income 17.2%

 

Vanguard Intermediate-Term Corporate Bond ETF (a)

 

733

 

63,076

 
 

Vanguard Mortgage-Backed Securities ETF (a)

 

1,255

 

62,851

 
 

Vanguard Short-Term Corporate Bond ETF (a)

 

1,022

 

79,838

 
 

Vanguard Short-Term Inflation-Protected Securities Index ETF

 

772

 

39,534

 
 

Vanguard Total Bond Market ETF

 

1,365

 

108,528

 
 

Vanguard Ultra-Short Bond ETF

 

809

 

39,975

 
 

393,802

 

Emerging Markets Equity 8.4%

 

Vanguard MSCI Emerging Markets ETF (a)

 

4,175

 

192,589

 

Emerging Markets Fixed Income 1.5%

 

Vanguard Emerging Markets Government Bond ETF (a)

 

498

 

34,755

 
 

Total Investment Companies (cost $2,215,291)

2,285,329

 

SHORT TERM INVESTMENTS 12.3%

Securities Lending Collateral 12.3%

 

JNL Securities Lending Collateral Fund, 0.23% (b) (c)

 

279,780

 

279,780

 
  

Shares 

 

Value ($) 

 

Investment Companies 0.0%

 

JNL Government Money Market Fund, 0.01% (b) (c)

 

715

 

715

 
 

Total Short Term Investments (cost $280,495)

280,495

 

Total Investments 112.3% (cost $2,495,786)

2,565,824

 

Other Assets and Liabilities, Net (12.3)%

(280,585)

 

Total Net Assets 100.0%

 

2,285,239

 

(a)  All or a portion of the security was on loan as of March 31, 2022.

(b)  Investment in affiliate.

(c)  Yield changes daily to reflect current market conditions. Rate was the quoted yield as of March 31, 2022.

        

JNL/Vanguard Moderate ETF Allocation Fund

INVESTMENT COMPANIES 99.9%

Domestic Fixed Income 53.9%

 

Vanguard Intermediate-Term Corporate Bond ETF (a)

 

601

 

51,693

 
 

Vanguard Mortgage-Backed Securities ETF (a)

 

1,259

 

63,072

 
 

Vanguard Short-Term Corporate Bond ETF (a)

 

806

 

62,924

 
 

Vanguard Short-Term Inflation-Protected Securities Index ETF (a)

 

331

 

16,973

 
 

Vanguard Total Bond Market ETF

 

1,152

 

91,641

 
 

Vanguard Ultra-Short Bond ETF (a)

 

463

 

22,880

 
 

309,183

 

Domestic Equity 28.0%

 

Vanguard Dividend Appreciation ETF

 

186

 

30,207

 
 

Vanguard Growth ETF

 

70

 

20,140

 
 

Vanguard Mid-Cap ETF (a)

 

72

 

17,228

 
 

Vanguard REIT ETF

 

54

 

5,896

 
 

Vanguard Small-Cap ETF

 

54

 

11,435

 
 

Vanguard Total Stock Market ETF (a)

 

239

 

54,461

 
 

Vanguard Value ETF

 

145

 

21,427

 
 

160,794

 

International Equity 9.5%

 

Vanguard FTSE All-World ex-US Small-Cap Index ETF (a)

 

46

 

5,683

 
 

Vanguard FTSE Developed Markets ETF (a)

 

1,011

 

48,540

 
 

54,223

 

Emerging Markets Fixed Income 4.5%

 

Vanguard Emerging Markets Government Bond ETF

 

374

 

26,109

 

Emerging Markets Equity 4.0%

 

Vanguard MSCI Emerging Markets ETF (a)

 

493

 

22,718

 
 

Total Investment Companies (cost $558,218)

573,027

 

SHORT TERM INVESTMENTS 27.8%

Securities Lending Collateral 27.7%

 

JNL Securities Lending Collateral Fund, 0.23% (b) (c)

 

159,180

 

159,180

 

Investment Companies 0.1%

 

JNL Government Money Market Fund, 0.01% (b) (c)

 

320

 

320

 
 

Total Short Term Investments (cost $159,500)

159,500

 

Total Investments 127.7% (cost $717,718)

732,527

 

Other Assets and Liabilities, Net (27.7)%

(159,007)

 

Total Net Assets 100.0%

 

573,520

 

(a)  All or a portion of the security was on loan as of March 31, 2022.

(b)  Investment in affiliate.

(c)  Yield changes daily to reflect current market conditions. Rate was the quoted yield as of March 31, 2022.

       

JNL/Vanguard Moderate Growth ETF Allocation Fund

INVESTMENT COMPANIES 100.0%

Domestic Equity 40.4%

 

Vanguard Dividend Appreciation ETF (a)

 

349

 

56,659

 
 

Vanguard Growth ETF (a)

 

231

 

66,520

 
 

Vanguard Mid-Cap ETF (a)

 

145

 

34,420

 
 

Vanguard REIT ETF

 

187

 

20,250

 
 

Vanguard Small-Cap ETF (a)

 

150

 

31,789

 
 

Vanguard Total Stock Market ETF

 

517

 

117,815

 
 

Vanguard Value ETF

 

463

 

68,499

 
 

395,952

 

Domestic Fixed Income 36.0%

 

Vanguard Intermediate-Term Corporate Bond ETF (a)

 

743

 

63,937

 

9


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

        
  

Shares 

 

Value ($) 

 
 

Vanguard Mortgage-Backed Securities ETF

 

1,372

 

68,738

 
 

Vanguard Short-Term Corporate Bond ETF (a)

 

941

 

73,475

 
 

Vanguard Short-Term Inflation-Protected Securities Index ETF

 

379

 

19,394

 
 

Vanguard Total Bond Market ETF

 

1,233

 

98,090

 
 

Vanguard Ultra-Short Bond ETF (a)

 

595

 

29,389

 
 

353,023

 

International Equity 14.2%

 

Vanguard FTSE All-World ex-US Small-Cap Index ETF (a)

 

137

 

17,020

 
 

Vanguard FTSE Developed Markets ETF (a)

 

2,545

 

122,250

 
 

139,270

 

Emerging Markets Equity 6.4%

 

Vanguard MSCI Emerging Markets ETF (a)

 

1,371

 

63,224

 

Emerging Markets Fixed Income 3.0%

 

Vanguard Emerging Markets Government Bond ETF (a)

 

427

 

29,809

 
 

Total Investment Companies (cost $919,070)

981,278

 

SHORT TERM INVESTMENTS 23.0%

Securities Lending Collateral 23.0%

 

JNL Securities Lending Collateral Fund, 0.23% (b) (c)

 

225,411

 

225,411

 

Investment Companies 0.0%

 

JNL Government Money Market Fund, 0.01% (b) (c)

 

505

 

505

 
 

Total Short Term Investments (cost $225,916)

225,916

 

Total Investments 123.0% (cost $1,144,986)

1,207,194

 

Other Assets and Liabilities, Net (23.0)%

(225,720)

 

Total Net Assets 100.0%

 

981,474

 

(a)  All or a portion of the security was on loan as of March 31, 2022.

(b)  Investment in affiliate.

(c)  Yield changes daily to reflect current market conditions. Rate was the quoted yield as of March 31, 2022.

10


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

Long Term Investments in Affiliates

The Funds of Funds, except for JNL/American Funds Funds of Funds, invested solely in shares of other affiliated Funds advised by Jackson National Asset Management, LLC. The JNL/American Funds Funds of Funds may invest in underlying funds that are considered affiliated companies. As defined by the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities. Based on each Fund’s relative ownership for all or some portion of the period ended March 31, 2022, certain Funds of Funds may be deemed an affiliated person thereof under the 1940 Act. JNL/American Funds Feeder Funds and JNL Mellon Feeder Funds invest primarily all of their investable assets in the respective Master Fund. Due to their ownership of more than 5% of the shares of the Master Fund, certain Feeder Funds may be deemed an affiliated person thereof under the Investment Company Act of 1940. The following table details each Fund's long term investments in affiliates held during the period ended March 31, 2022.

                          

Affiliate

 

Value Beginning of Period($)

 

Purchases($)

 

Sales Proceeds($)

 

Distributions from Funds($)

 

Realized Gain/Loss from Sales($)

 

Change in Unrealized Appreciation (Depreciation)($)

 

Value End of Period($)

 

Percentage of Net Assets(%)

JNL/American Funds Balanced Fund

            
 

American Funds Insurance Series - Asset Allocation Fund - Class 1

 

2,839,027

 

71,926

 

16,140

 

 

2,801

 

(142,578

)

2,755,036

 

100.0

   

2,839,027 

 

71,926 

 

16,140 

 

 

 

2,801

 

(142,578

)

2,755,036 

 

100.0

JNL/American Funds Capital Income Builder Fund

            
 

American Funds Insurance Series - Capital Income Builder Fund - Class 1

 

282,692

 

41,264

 

1,691

 

1,756

 

329

 

(7,268

)

315,326

 

100.0

   

282,692 

 

41,264 

 

1,691 

 

1,756 

 

329

 

(7,268

)

315,326 

 

100.0

JNL/American Funds Capital World Bond Fund

            
 

American Funds Insurance Series - Capital World Bond Fund - Class 1

 

485,980

 

2,105

 

17,275

 

 

(1,725

)

(38,578

)

430,507

 

100.0

   

485,980 

 

2,105 

 

17,275 

 

 

 

(1,725

)

(38,578

)

430,507 

 

100.0

JNL/American Funds Global Growth Fund

            
 

American Funds Insurance Series - Global Growth Fund - Class 1

 

1,012,642

 

17,888

 

22,075

 

 

8,999

 

(146,358

)

871,096

 

100.0

   

1,012,642 

 

17,888 

 

22,075 

 

 

 

8,999

 

(146,358

)

871,096 

 

100.0

JNL/American Funds Global Small Capitalization Fund

            
 

American Funds Insurance Series - Global Small Capitalization Fund - Class 1

 

929,192

 

15,951

 

23,837

 

 

290

 

(136,955

)

784,641

 

100.0

   

929,192 

 

15,951 

 

23,837 

 

 

 

290

 

(136,955

)

784,641 

 

100.0

JNL/American Funds Growth Fund

            
 

American Funds Insurance Series - Growth Fund - Class 1

 

4,564,070

 

98,500

 

124,406

 

 

46,556

 

(455,284

)

4,129,436

 

100.0

   

4,564,070 

 

98,500 

 

124,406 

 

 

 

46,556

 

(455,284

)

4,129,436 

 

100.0

JNL/American Funds Growth-Income Fund

            
 

American Funds Insurance Series - Growth-Income Fund - Class 1

 

10,618,057

 

22,751

 

131,807

 

 

46,032

 

(621,691

)

9,933,342

 

100.0

   

10,618,057 

 

22,751 

 

131,807 

 

 

 

46,032

 

(621,691

)

9,933,342 

 

100.0

JNL/American Funds International Fund

            
 

American Funds Insurance Series - International Fund - Class 1

 

1,846,144

 

16,767

 

18,347

 

 

(596

)

(177,254

)

1,666,714

 

100.0

   

1,846,144 

 

16,767 

 

18,347 

 

 

 

(596

)

(177,254

)

1,666,714 

 

100.0

JNL/American Funds New World Fund

            
 

American Funds Insurance Series - New World Fund - Class 1

 

1,773,065

 

17,014

 

27,129

 

 

5,743

 

(189,747

)

1,578,946

 

100.0

   

1,773,065 

 

17,014 

 

27,129 

 

 

 

5,743

 

(189,747

)

1,578,946 

 

100.0

JNL/American Funds Washington Mutual Investors Fund

            
 

American Funds Insurance Series - Washington Mutual Investors Fund - Class 1

 

4,016,089

 

22,135

 

75,718

 

 

13,801

 

(95,307

)

3,881,000

 

100.0

   

4,016,089 

 

22,135 

 

75,718 

 

 

 

13,801

 

(95,307

)

3,881,000 

 

100.0

JNL/Mellon Bond Index Fund

            
 

JNL Bond Index Fund - Class I

 

1,320,210

 

12,080

 

59,395

 

 

(1,968

)

(74,631

)

1,196,296

 

100.0

   

1,320,210 

 

12,080 

 

59,395 

 

 

 

(1,968

)

(74,631

)

1,196,296 

 

100.0

JNL/Mellon Emerging Markets Index Fund

            
 

JNL Emerging Markets Index Fund - Class I

 

1,069,188

 

12,772

 

24,322

 

 

(2,991

)

(65,524

)

989,123

 

100.0

   

1,069,188 

 

12,772 

 

24,322 

 

 

 

(2,991

)

(65,524

)

989,123 

 

100.0

JNL/Mellon International Index Fund

            
 

JNL International Index Fund - Class I

 

2,645,648

 

9,139

 

55,565

 

 

(1,405

)

(173,082

)

2,424,735

 

100.0

   

2,645,648 

 

9,139 

 

55,565 

 

 

 

(1,405

)

(173,082

)

2,424,735 

 

100.0

JNL/Mellon S&P 400 MidCap Index Fund

            
 

JNL Mid Cap Index Fund - Class I

 

3,850,651

 

19,212

 

100,994

 

 

(2,667

)

(186,767

)

3,579,435

 

100.0

   

3,850,651 

 

19,212 

 

100,994 

 

 

 

(2,667

)

(186,767

)

3,579,435 

 

100.0

11


JNL Series Trust (Unaudited)

Schedules of Investments (in thousands)

March 31, 2022

                          

Affiliate

 

Value Beginning of Period($)

 

Purchases($)

 

Sales Proceeds($)

 

Distributions from Funds($)

 

Realized Gain/Loss from Sales($)

 

Change in Unrealized Appreciation (Depreciation)($)

 

Value End of Period($)

 

Percentage of Net Assets(%)

JNL/Mellon Small Cap Index Fund

            
 

JNL Small Cap Index Fund - Class I

 

2,981,337

 

19,892

 

74,759

 

 

(773

)

(166,965

)

2,758,732

 

100.0

   

2,981,337 

 

19,892 

 

74,759 

 

 

 

(773

)

(166,965

)

2,758,732 

 

100.0

JNL Aggressive Growth Allocation Fund

            
 

JNL Multi-Manager Alternative Fund - Class I

 

18,252

 

1,740

 

283

 

 

38

 

(902

)

18,845

 

1.2

 

JNL Multi-Manager Emerging Markets Equity Fund - Class I

 

63,094

 

369

 

1,937

 

 

(187

)

(7,622

)

53,717

 

3.3

 

JNL Multi-Manager International Small Cap Fund - Class I

 

82,704

 

595

 

556

 

 

137

 

(11,853

)

71,027

 

4.4

 

JNL Multi-Manager Mid Cap Fund - Class I

 

188,696

 

 

4,351

 

 

1,658

 

(12,860

)

173,143

 

10.6

 

JNL Multi-Manager Small Cap Growth Fund - Class I

 

48,826

 

670

 

416

 

 

149

 

(7,149

)

42,080

 

2.6

 

JNL Multi-Manager Small Cap Value Fund - Class I

 

59,334

 

11

 

2,370

 

 

187

 

(3,137

)

54,025

 

3.3

 

JNL/Baillie Gifford U.S. Equity Growth Fund - Class I

 

64,319

 

2,873

 

702

 

 

(351

)

(16,212

)

49,927

 

3.1

 

JNL/Blackrock Global Natural Resouces Fund - Class I

 

 

19,329

 

4

 

 

 

870

 

20,195

 

1.2

 

JNL/Causeway International Value Select Fund - Class I

 

129,459

 

237

 

12,541

 

 

378

 

(6,497

)

111,036

 

6.8

 

JNL/DoubleLine Shiller Enhanced CAPE Fund - Class I

 

139,201

 

 

17,925

 

 

6,317

 

(14,568

)

113,025

 

6.9

 

JNL/DoubleLine Total Return Fund - Class I

 

54,356

 

1

 

2,585

 

 

127

 

(2,674

)

49,225

 

3.0

 

JNL/First Sentier Global Infrastructure Fund - Class I

 

51,857

 

 

3,457

 

 

1,077

 

586

 

50,063

 

3.1

 

JNL/GQG Emerging Markets Equity Fund - Class I

 

67,771

 

190

 

3,703

 

 

1,048

 

(6,518

)

58,788

 

3.6

 

JNL/Harris Oakmark Global Equity Fund - Class I

 

100,836

 

 

8,139

 

 

1,128

 

(4,012

)

89,813

 

5.5

 

JNL/Heitman U.S. Focused Real Estate Fund - Class I

 

38,557

 

 

2,250

 

 

512

 

(2,248

)

34,571

 

2.1

 

JNL/JPMorgan U.S. Value Fund - Class I

 

79,154

 

3,477

 

4,175

 

 

1,616

 

(1,954

)

78,118

 

4.8

 

JNL/Loomis Sayles Global Growth Fund - Class I

 

107,889

 

401

 

5,086

 

 

1,326

 

(11,686

)

92,844

 

5.7

 

JNL/Morningstar Wide Moat Index Fund - Class I

 

128,471

 

 

9,229

 

 

2,639

 

(5,505

)

116,376

 

7.1

 

JNL/Neuberger Berman Commodity Strategy Fund - Class I

 

 

9,000

 

 

 

 

15

 

9,015

 

0.6

 

JNL/T. Rowe Price Established Growth Fund - Class I

 

89,435

 

1,285

 

1,007

 

 

395

 

(12,105

)

78,003

 

4.8

 

JNL/T. Rowe Price Value Fund - Class I

 

128,710

 

 

11,155

 

 

3,358

 

(7,347

)

113,566

 

7.0

 

JNL/WCM Focused International Equity Fund - Class I

 

174,906

 

1,411

 

5,458

 

 

1,306

 

(31,253

)

140,912

 

8.6

 

JNL/Westchester Capital Event Driven Fund - Class I

 

11,793

 

 

724

 

 

140

 

(155

)

11,054

 

0.7

   

1,827,620 

 

41,589 

 

98,053 

 

 

 

22,998

 

(164,786

)