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1290 FUNDS

1290 AVANTIS® U.S. LARGE CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
COMMON STOCKS:
Communication Services (12.0%)
*Diversified Telecommunication Services (0.0%)†*
Iridium Communications, Inc.		712	$	33,706
Liberty Capital Corp.*		31		733
Liberty Capital Corp., Class C*		270		6,256

				40,695

*Entertainment (1.5%)*
Live Nation Entertainment, Inc.*		1,717		298,981
Madison Square Garden Sports Corp.*		18		7,086
Netflix, Inc.*		34,046		2,441,439
ROBLOX Corp., Class A*		5,534		197,011
Take-Two Interactive Software, Inc.*		758		184,133

				3,128,650

*Interactive Media & Services (10.5%)*
Alphabet, Inc., Class A		20,142		7,173,170
Alphabet, Inc., Class C		16,301		5,813,752
Meta Platforms, Inc., Class A		15,991		8,902,349

				21,889,271

*Media (0.0%)†*
EchoStar Corp., Class A*		256		21,527
Trade Desk, Inc. (The), Class A*		722		13,025

				34,552

Total Communication Services				25,093,168

Consumer Discretionary (12.7%)
*Automobiles (0.8%)*
Tesla, Inc.*		5,510		1,714,767

*Broadline Retail (4.3%)*
Amazon.com, Inc.*		31,422		8,533,587
Coupang, Inc., Class A*		25,360		414,636
Etsy, Inc.*		328		26,791

				8,975,014

*Diversified Consumer Services (0.0%)†*
Grand Canyon Education, Inc.*		251		36,481
H&R Block, Inc.		39		1,717

				38,198

*Hotels, Restaurants & Leisure (3.5%)*
Airbnb, Inc., Class A*		5,484		830,936
Booking Holdings, Inc.		1,725		332,752
Carnival Corp. Ltd.		3,398		94,498
Chipotle Mexican Grill, Inc.*		27,044		1,006,578
Choice Hotels International, Inc.		896		99,895
Darden Restaurants, Inc.		1,927		392,299
Domino’s Pizza, Inc.		159		55,243
Expedia Group, Inc.		1,171		345,141
Hilton Worldwide Holdings, Inc.		421		134,926
Las Vegas Sands Corp.		10,243		500,780
Marriott International, Inc., Class A		193		71,956
McDonald’s Corp.		222		60,082
Norwegian Cruise Line Holdings Ltd.*		12,310		228,104
Planet Fitness, Inc., Class A*		166		9,281
Royal Caribbean Cruises Ltd.		6,199		1,973,142
Starbucks Corp.		1,335		140,509
Texas Roadhouse, Inc., Class A		2,824		580,163
Travel + Leisure Co.		86		6,538
Viking Holdings Ltd.*		2,678		279,449
Wingstop, Inc.		143		18,517
Yum! Brands, Inc.		812		124,463

				7,285,252

*Specialty Retail (3.4%)*
AutoZone, Inc.*		42		126,682
Burlington Stores, Inc.*		2,756		1,015,531
Chewy, Inc., Class A*		1,367		30,894
Home Depot, Inc. (The)		4,536		1,505,771
Lithia Motors, Inc., Class A		18		6,938
Murphy USA, Inc.		822		499,579
O’Reilly Automotive, Inc.*		1,360		121,516
Ross Stores, Inc.		3,360		843,595
TJX Cos., Inc. (The)		10,580		1,664,657
Tractor Supply Co.		13,668		420,564
Ulta Beauty, Inc.*		898		460,521
Williams-Sonoma, Inc.		1,727		394,896

				7,091,144

*Textiles, Apparel & Luxury Goods (0.7%)*
Deckers Outdoor Corp.*		5,629		545,338
Lululemon Athletica, Inc.*		1,914		227,517
Ralph Lauren Corp.		60		22,820
Tapestry, Inc.		4,381		667,533

				1,463,208

Total Consumer Discretionary				26,567,583

Consumer Staples (3.4%)
*Beverages (0.7%)*
Coca-Cola Co. (The)		6,305		552,255
Coca-Cola Consolidated, Inc.		269		50,545
Monster Beverage Corp.*		6,008		579,051
PepsiCo, Inc.		2,412		336,619

				1,518,470

*Consumer Staples Distribution & Retail (2.2%)*
BJ’s Wholesale Club Holdings, Inc.*		590		57,690
Casey’s General Stores, Inc.		169		147,199
Costco Wholesale Corp.		3,616		3,442,034
Sprouts Farmers Market, Inc.*		1,770		154,273
Sysco Corp.		4,415		376,335
Walmart, Inc.		2,495		277,444

				4,454,975

*Food Products (0.1%)*
Hershey Co. (The)		1,317		230,541

*Household Products (0.4%)*
Colgate-Palmolive Co.		4,697		428,836
Kimberly-Clark Corp.		3,683		402,589

				831,425

Total Consumer Staples				7,035,411

Energy (1.9%)
*Energy Equipment & Services (0.0%)†*
TechnipFMC plc		1,393		99,822

*Oil, Gas & Consumable Fuels (1.9%)*
Cheniere Energy, Inc.		3,082		812,323
HF Sinclair Corp.		148		13,538
Marathon Petroleum Corp.		934		295,583
Phillips 66		308		65,197
Targa Resources Corp.		8,116		2,194,323
Texas Pacific Land Corp.		1,395		561,599

				3,942,563

Total Energy				4,042,385

Financials (6.6%)
*Banks (0.3%)*
Bank of America Corp.		1,290		79,916
Citigroup, Inc.		2,758		365,297
Popular, Inc.		214		37,495
Western Alliance Bancorp		835		67,209

				549,917

*Capital Markets (1.8%)*
Ameriprise Financial, Inc.		2,143		1,169,735

See Notes to Portfolio of Investments.

1290 FUNDS

1290 AVANTIS® U.S. LARGE CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
Blackstone, Inc.		2,059	$	263,037
Charles Schwab Corp. (The)		1,863		196,062
FactSet Research Systems, Inc.		78		20,530
Goldman Sachs Group, Inc. (The)		246		250,522
Jefferies Financial Group, Inc.		1,002		54,709
KKR & Co., Inc.		1,243		126,078
Lazard, Inc.		693		29,369
LPL Financial Holdings, Inc.		2,759		975,858
Moody’s Corp.		1,098		525,261
MSCI, Inc.		131		74,963
Robinhood Markets, Inc., Class A*		718		62,150

				3,748,274

*Consumer Finance (0.5%)*
Ally Financial, Inc.		1,555		67,378
American Express Co.		2,700		907,875
Credit Acceptance Corp.*		15		8,534
SLM Corp.		526		13,673
SoFi Technologies, Inc.*		1,606		26,194

				1,023,654

*Financial Services (3.8%)*
Apollo Global Management, Inc.		3,426		430,271
Block, Inc., Class A*		1,083		87,983
Mastercard, Inc., Class A		5,387		3,087,290
Visa, Inc., Class A		11,683		4,277,497

				7,883,041

*Insurance (0.2%)*
Everest Group Ltd.		89		33,299
Kinsale Capital Group, Inc.		599		213,496
Markel Group, Inc.*		39		73,411
Progressive Corp. (The)		970		205,078
RLI Corp.		13		796

				526,080

Total Financials				13,730,966

Health Care (6.2%)
*Biotechnology (1.8%)*
AbbVie, Inc.		3,103		778,667
Amgen, Inc.		2,610		1,005,268
Bridgebio Pharma, Inc.*		178		14,256
Exelixis, Inc.*		9,580		508,027
Gilead Sciences, Inc.		4,398		572,663
Neurocrine Biosciences, Inc.*		673		112,256
Ultragenyx Pharmaceutical, Inc.*		266		6,626
Vertex Pharmaceuticals, Inc.*		1,407		671,280

				3,669,043

*Health Care Equipment & Supplies (1.3%)*
Dexcom, Inc.*		12,867		1,073,751
IDEXX Laboratories, Inc.*		1,584		885,567
Insulet Corp.*		349		57,707
Intuitive Surgical, Inc.*		1,565		552,962
ResMed, Inc.		650		137,137

				2,707,124

*Health Care Providers & Services (0.5%)*
Cardinal Health, Inc.		554		127,436
Cencora, Inc.		1,908		594,037
Centene Corp.*		613		38,141
DaVita, Inc.*		19		4,562
HCA Healthcare, Inc.		74		29,792
McKesson Corp.		354		303,091

				1,097,059

*Health Care Technology (0.1%)*
Veeva Systems, Inc., Class A*		827		168,526

*Life Sciences Tools & Services (0.1%)*
Waters Corp.*		430		162,243

*Pharmaceuticals (2.4%)*
Bristol-Myers Squibb Co.		362		23,642
Eli Lilly & Co.		4,140		4,756,198
Zoetis, Inc.		4,235		327,323

				5,107,163

Total Health Care				12,911,158

Industrials (8.6%)
*Aerospace & Defense (1.4%)*
ATI, Inc.*		1,835		343,952
Boeing Co. (The)*		1,238		267,581
BWX Technologies, Inc.		450		75,915
Carpenter Technology Corp.		327		169,929
GE Aerospace		4,260		1,533,898
Hexcel Corp.		144		14,825
Lockheed Martin Corp.		801		466,775
TransDigm Group, Inc.		26		32,614

				2,905,489

*Air Freight & Logistics (0.0%)†*
CH Robinson Worldwide, Inc.		4		591

*Building Products (0.4%)*
Armstrong World Industries, Inc.		569		99,382
Lennox International, Inc.		838		348,507
Simpson Manufacturing Co., Inc.		61		11,452
Trane Technologies plc		718		326,654

				785,995

*Commercial Services & Supplies (0.6%)*
Cintas Corp.		2,048		419,082
Copart, Inc.*		4,930		143,562
Rollins, Inc.		2,737		103,924
Waste Management, Inc.		2,225		504,074

				1,170,642

*Construction & Engineering (1.0%)*
Comfort Systems USA, Inc.		846		1,463,318
EMCOR Group, Inc.		528		421,043
IES Holdings, Inc.*		113		84,133
Sterling Infrastructure, Inc.*		303		180,821

				2,149,315

*Electrical Equipment (1.6%)*
Eaton Corp. plc		19		7,889
GE Vernova, Inc.		2,116		2,095,453
Vertiv Holdings Co., Class A		4,782		1,155,188

				3,258,530

*Ground Transportation (0.7%)*
Avis Budget Group, Inc.*		39		5,360
Landstar System, Inc.		187		32,682
Lyft, Inc., Class A*		2,266		35,939
Old Dominion Freight Line, Inc.		1,415		300,178
Uber Technologies, Inc.*		8,643		608,122
U-Haul Holding Co. (Nasdaq Stock Exchange)*		89		6,311
U-Haul Holding Co. (New York Stock Exchange) (x)		1,179		73,782
Union Pacific Corp.		1,734		506,553
XPO, Inc.*		4		804

				1,569,731

*Industrial Conglomerates (0.0%)†*
3M Co.		4		705

*Machinery (1.0%)*
Caterpillar, Inc.		1,873		1,526,139
Cummins, Inc.		265		168,063
Illinois Tool Works, Inc.		1,628		467,155

				2,161,357

See Notes to Portfolio of Investments.

1290 FUNDS

1290 AVANTIS® U.S. LARGE CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
*Passenger Airlines (0.1%)*
Alaska Air Group, Inc.*		521	$	24,722
American Airlines Group, Inc.*		2,103		32,113
Delta Air Lines, Inc.		419		36,637
Southwest Airlines Co.		491		22,080
United Airlines Holdings, Inc.*		98		11,890

				127,442

*Professional Services (0.6%)*
Automatic Data Processing, Inc.		1,382		368,248
Broadridge Financial Solutions, Inc.		116		17,858
Paychex, Inc.		1,986		232,044
Paycom Software, Inc.		1,070		175,437
Paylocity Holding Corp.*		832		114,729
Verisk Analytics, Inc.		1,440		280,584

				1,188,900

*Trading Companies & Distributors (1.2%)*
Fastenal Co.		21,697		1,035,164
W.W. Grainger, Inc.		1,101		1,521,824

				2,556,988

Total Industrials				17,875,685

Information Technology (47.7%)
*Communications Equipment (1.1%)*
Arista Networks, Inc.*		10,016		1,806,385
Motorola Solutions, Inc.		1,079		470,174
Ubiquiti, Inc.		163		90,713

				2,367,272

*Electronic Equipment, Instruments & Components (0.6%)*
Amphenol Corp., Class A		1,996		320,757
Corning, Inc.		539		74,517
Jabil, Inc.		2,441		769,037
TTM Technologies, Inc.*		106		12,237

				1,176,548

*IT Services (0.1%)*
CoreWeave, Inc., Class A*		2,411		173,037
Globant SA*		93		3,404
Kyndryl Holdings, Inc.*		572		7,751

				184,192

*Semiconductors & Semiconductor Equipment (22.5%)*
Advanced Micro Devices, Inc.*		6,159		2,932,608
Analog Devices, Inc.		27		9,920
Applied Materials, Inc.		3,725		1,891,071
Broadcom, Inc.		23,668		9,213,479
First Solar, Inc.*		76		16,038
KLA Corp.		12,964		2,370,078
Lam Research Corp.		12,676		3,714,322
Marvell Technology, Inc.		584		109,535
Micron Technology, Inc.		2,465		2,028,769
NVIDIA Corp.		116,931		23,473,898
QUALCOMM, Inc.		3,580		528,444
Texas Instruments, Inc.		2,916		804,058

				47,092,220

*Software (11.9%)*
Adobe, Inc.*		1,888		472,774
AppLovin Corp., Class A*		2,731		1,081,203
Autodesk, Inc.*		1,428		334,438
Crowdstrike Holdings, Inc., Class A*		776		148,107
Docusign, Inc.*		137		7,512
Dropbox, Inc., Class A*		583		18,982
Fair Isaac Corp.*		128		143,740
Fortinet, Inc.*		9,815		1,589,539
Manhattan Associates, Inc.*		631		120,748
Microsoft Corp.		37,658		17,500,426
Nutanix, Inc., Class A*		297		17,526
Oracle Corp.		8,390		1,089,609
Palantir Technologies, Inc., Class A*		11,588		1,426,019
Palo Alto Networks, Inc.*		1,212		402,178
Pegasystems, Inc.		1,058		32,322
RingCentral, Inc., Class A		519		28,867
Rubrik, Inc., Class A*		221		15,992
ServiceNow, Inc.*		4,973		553,147
Strategy, Inc.*		18		1,679

				24,984,808

*Technology Hardware, Storage & Peripherals (11.5%)*
Apple, Inc.		74,448		22,997,732
Dell Technologies, Inc., Class C		29		11,756
NetApp, Inc.		1,222		218,127
Sandisk Corp.*		307		372,953
Super Micro Computer, Inc.*		26		738
Western Digital Corp.		786		428,244

				24,029,550

Total Information Technology				99,834,590

Materials (0.3%)
*Chemicals (0.2%)*
Sherwin-Williams Co. (The)		1,258		428,789
Solstice Advanced Materials, Inc.		2,093		125,936

				554,725

*Construction Materials (0.1%)*
Eagle Materials, Inc.		691		141,613

*Metals & Mining (0.0%)†*
Hecla Mining Co.		306		4,321

Total Materials				700,659

Real Estate (0.0%)†
*Real Estate Management & Development (0.0%)†*
CBRE Group, Inc., Class A*		99		14,534

Total Real Estate				14,534

Utilities (0.5%)
*Electric Utilities (0.0%)†*
NRG Energy, Inc.		995		133,619

*Independent Power and Renewable Electricity Producers (0.5%)*
Talen Energy Corp.*		469		156,693
Vistra Corp.		5,733		849,573

				1,006,266

Total Utilities				1,139,885

Total Investments in Securities (99.9%) (Cost $151,575,509)				208,946,024
Other Assets Less Liabilities (0.1%)				142,765

Net Assets (100%)			$	209,088,789

*	Non-income producing.

†	Percent shown is less than 0.05%.

(x)

All or a portion of security is on loan at July 31, 2026, the Portfolio had loaned securities with a total value of $5,106. This was collateralized by $5,213 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 8/11/26 – 11/15/55.

See Notes to Portfolio of Investments.

1290 FUNDS

1290 AVANTIS® U.S. LARGE CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities		Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Communication Services	$	25,093,168	$	—	$	—	$	25,093,168
Consumer Discretionary		26,567,583		—		—		26,567,583
Consumer Staples		7,035,411		—		—		7,035,411
Energy		4,042,385		—		—		4,042,385
Financials		13,730,966		—		—		13,730,966
Health Care		12,911,158		—		—		12,911,158
Industrials		17,875,685		—		—		17,875,685
Information Technology		99,834,590		—		—		99,834,590
Materials		700,659		—		—		700,659
Real Estate		14,534		—		—		14,534
Utilities		1,139,885		—		—		1,139,885

Total Assets	$	208,946,024	$	—	$	—	$	208,946,024

Total Liabilities	$	—	$	—	$	—	$	—

Total	$	208,946,024	$	—	$	—	$	208,946,024

As of July 31, 2026, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:


Aggregate gross unrealized appreciation	$	63,361,213
Aggregate gross unrealized depreciation		(5,993,181	)

Net unrealized appreciation	$	57,368,032

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	151,577,992

See Notes to Portfolio of Investments.

1290 FUNDS

1290 DIVERSIFIED BOND FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
LONG-TERM DEBT SECURITIES:
Asset-Backed Securities (13.1%)
Cloud Capital Holdco LP,
Series 2024-1A A2
5.781%, 11/22/49§	$	4,830,000	$	4,829,780
Consolidated Communications LLC,
Series 2025-1A A2
6.000%, 5/20/55§		7,575,000		7,661,152
Series 2025-1A B
6.506%, 5/20/55§		5,265,000		5,305,975
CPS Auto Receivables Trust,
Series 2022-C E
9.080%, 4/15/30§		2,400,000		2,467,220
Drive Auto Receivables Trust,
Series 2024-2 C
4.670%, 5/17/32		11,637,000		11,648,920
Octagon 55 Ltd.,
Series 2021-1A D1R
6.479%, 3/20/38(l)§		2,985,000		2,991,242
OHA Credit Funding 2 Ltd.,
Series 2019-2A D1R2
6.434%, 1/21/38(l)§		4,650,000		4,644,039
PFP Ltd.,
Series 2026-14 A
4.990%, 12/18/43(l)§		3,680,000		3,684,215
Point Broadband Funding LLC,
Series 2025-1A A2
5.336%, 7/20/55§		4,650,000		4,572,767
Series 2025-1A B
5.727%, 7/20/55§		6,070,000		5,984,530
TRTX Issuer Ltd.,
Series 2025-FL6 C
6.065%, 9/18/42(l)§		6,760,000		6,741,794
Series 2025-FL7 A
5.120%, 6/18/43(l)§		4,830,000		4,844,803
Zayo Issuer LLC,
Series 2025-1A A2
5.648%, 3/20/55§		1,700,000		1,698,532
Series 2025-2A A2
5.953%, 6/20/55§		12,440,000		12,518,531

Total Asset-Backed Securities				79,593,500

Collateralized Mortgage Obligations (6.9%)
Connecticut Avenue Securities Trust,
Series 2022-R02 2M2
6.616%, 1/25/42(l)§		1,021,137		1,030,493
Series 2022-R04 1B1
8.866%, 3/25/42(l)§		1,970,000		2,022,334
FHLMC,
Series 5654 FB
5.016%, 5/25/56(l)		14,396,604		14,443,924
FHLMC STACR REMIC Trust,
Series 2022-DNA3 M2
7.966%, 4/25/42(l)§		9,560,000		9,790,710
Series 2022-DNA6 M1B
7.316%, 9/25/42(l)§		650,000		667,472
Series 2022-DNA6 M2
9.366%, 9/25/42(l)§		6,300,000		6,639,198
JP Morgan Mortgage Trust,
Series 2025-VIS1 A2
5.695%, 8/25/55(e)§		7,259,740		7,241,732

Total Collateralized Mortgage Obligations				41,835,863

Commercial Mortgage-Backed Securities (5.0%)
Multifamily Connecticut Avenue Securities Trust,
Series 2019-01 M10
6.981%, 10/25/49(l)§		6,923,564		6,984,984
Series 2023-01 M10
10.116%, 11/25/53(l)§		10,480,000		11,835,665
Series 2024-01 M7
6.366%, 7/25/54(l)§		7,988,510		8,063,152
SWCH Commercial Mortgage Trust,
Series 2025-DATA E
7.017%, 2/15/42(l)§		3,250,000		3,218,674

Total Commercial Mortgage-Backed Securities				30,102,475

Convertible Bond (0.1%)
Information Technology (0.1%)
*Software (0.1%)*
IREN Ltd.
(Zero Coupon), 7/1/31§		1,144,000		870,584

Total Information Technology				870,584

Total Convertible Bond				870,584

Corporate Bonds (2.3%)
Communication Services (0.7%)
*Diversified Telecommunication Services (0.7%)*
QTS Fayetteville I Dc1-2 LLC
5.700%, 4/15/36§		4,290,000		3,918,008

Total Communication Services				3,918,008

Energy (0.4%)
*Oil, Gas & Consumable Fuels (0.4%)*
NFE Brazil Financing Ltd.
12.000%, 6/19/29 PIK§		1,003,341		888,626
NFE Financing LLC
12.000%, 11/15/29(h)§		4,906,200		1,471,860

Total Energy				2,360,486

Financials (0.9%)
*Capital Markets (0.8%)*
Golub Capital BDC, Inc.
2.500%, 8/24/26		4,705,000		4,696,683

See Notes to Portfolio of Investments.

1290 FUNDS

1290 DIVERSIFIED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
*Consumer Finance (0.1%)*
American Express Co.
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 3.550%, 9/15/26(k)(y)	$	865,000	$	861,756

Total Financials				5,558,439

Real Estate (0.3%)
*Diversified REITs (0.2%)*
Trust Fibra Uno (REIT)
7.700%, 1/23/32§		1,145,000		1,200,819

*Industrial REITs (0.1%)*
Trust 2401 (REIT)
7.700%, 1/23/32§		575,000		604,325

Total Real Estate				1,805,144

Total Corporate Bonds				13,642,077

Foreign Government Securities (25.8%)
Argentine Republic
4.125%, 7/9/35(e)		24,220,000		19,068,406
Mex Bonos Desarr Fix Rt
8.000%, 4/29/55	MXN	248,000,000		11,959,892
Series M
8.000%, 7/31/53		385,000,000		18,651,470
Notas do Tesouro Nacional
10.000%, 1/1/33	BRL	18,810,000		3,042,149
10.000%, 1/1/35		263,740,000		40,923,006
Republic of Ecuador
8.750%, 1/29/34§	$	2,480,000		2,460,408
Titulos de Tesoreria
11.500%, 7/25/46	COP	102,770,000,000		31,211,914
12.000%, 3/13/58		9,920,000,000		3,077,853
U.K. Treasury Bonds
1.250%, 7/31/51(m)	GBP	47,560,000		25,846,315

Total Foreign Government Securities				156,241,413

Mortgage-Backed Securities (4.2%)
GNMA
6.000%, 4/20/54	$	2,411,408		2,458,861
6.000%, 11/20/54		4,958,313		5,054,722
6.000%, 12/20/54		4,313,207		4,397,409
6.000%, 1/20/55		2,771,638		2,825,746
6.000%, 2/20/55		10,284,594		10,484,567

Total Mortgage-Backed Securities				25,221,305

U.S. Treasury Obligations (32.3%)
U.S. Treasury Inflation Linked Bonds
2.375%, 2/15/56 TIPS(x)		30,990,479		26,954,917
U.S. Treasury Inflation Linked Notes
1.250%, 4/15/31 TIPS		140,097,824		134,292,661
U.S. Treasury Notes
(US Treasury 3 Month Bill Money Market Yield + 0.10%), 3.951%, 1/31/28(k)		14,470,000		14,481,838
(US Treasury 3 Month Bill Money Market Yield + 0.10%), 3.955%, 4/30/28(k)		19,760,000		19,776,865

Total U.S. Treasury Obligations				195,506,281

Total Long-Term Debt Securities (89.7%) (Cost $542,317,874)				543,013,498

SHORT-TERM INVESTMENTS:
Foreign Government Treasury Bills (4.5%)
Arab Republic of Egypt
26.76%, 8/11/26(p)	EGP	902,000,000		17,493,333
24.28%, 10/20/26(p)		510,200,000		9,464,584

Total Foreign Government Treasury Bills				26,957,917


	Number of Shares
Investment Companies (2.0%)
Invesco Government & Agency Portfolio, Institutional Shares 3.65% (7 day yield) (xx)		911,506		911,506
JPMorgan Prime Money Market Fund, IM Shares 3.84% (7 day yield)		11,310,987		11,312,119

Total Investment Companies				12,223,625

Total Short-Term Investments (6.5%) (Cost $41,491,966)				39,181,542

Total Investments in Securities (96.2%) (Cost $583,809,840)				582,195,040
Other Assets Less Liabilities (3.8%)				23,283,624

Net Assets (100%)			$	605,478,664

§	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At July 31, 2026, the market value of these securities amounted to $136,853,624 or 22.6% of net assets.

(e)

Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of July 31, 2026. Maturity date disclosed is the ultimate maturity date.

(h)

Defaulted security. A security is classified as defaulted if the issuer files for bankruptcy or fails to make a scheduled interest or principal payment within the grace period set forth in the security’s governing documents.

(k)

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of July 31, 2026.

(l)

Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of July 31, 2026.

(m)

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At July 31, 2026, the market value or fair value, as applicable, of these securities amounted to $25,846,315 or 4.3% of net assets.

(p)

Yield to maturity.

(x)

All or a portion of security is on loan at July 31, 2026.

(y)

Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of July 31, 2026.

See Notes to Portfolio of Investments.

1290 FUNDS

1290 DIVERSIFIED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

(xx)

At July 31, 2026, the Fund had loaned securities with a total value of $24,556,022. This was collateralized by $24,367,826 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.625%, maturing 10/15/26 – 2/15/56 and by cash of $911,506 which was subsequently invested in investment companies.

Glossary:

AUD — Australian Dollar

BRL — Brazilian Real

CAD — Canadian Dollar

CHF — Swiss Franc

CLP — Chilean Peso

COP — Colombian Peso

EGP — Egyptian Pound

EUR — European Currency Unit

FHLMC — Federal Home Loan Mortgage Corp.

GBP — British Pound

GNMA — Government National Mortgage Association

INR — India Rupee

KRW — Korean (South) Won

MXN — Mexican Peso

NOK — Norwegian Krone

NZD — New Zealand Dollar

PIK — Payment-in Kind Security

REIT — Real Estate Investment Trust

REMIC — Real Estate Mortgage Investment Conduit

SEK — Swedish Krona

STACR — Structured Agency Credit Risk

TIPS — Treasury Inflation Protected Security

USD — United States Dollar

Futures contracts outstanding as of July 31, 2026 (Note 1):


Description	Number of Contracts			Expiration Date		Trading Currency		Notional Amount ($)			Value and Unrealized Appreciation (Depreciation) ($)
Long Contracts
Long Gilt		1,014			9/2026		GBP		118,198,834			(2,314,986	)
U.S. Treasury 5 Year Note		812			9/2026		USD		86,052,969			(538,938	)
U.S. Treasury 10 Year Ultra Note		1,222			9/2026		USD		134,057,219			(2,662,963	)

												(5,516,887	)

Short Contracts
Canada 10 Year Bond		(2,851	)		9/2026		CAD		(241,567,771	)		3,845,978

												3,845,978

												(1,670,909	)

See Notes to Portfolio of Investments.

1290 FUNDS

1290 DIVERSIFIED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

Forward Foreign Currency Contracts outstanding as of July 31, 2026 (Note 1):


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation) ($)
COP	126,630,000,000	USD	36,268,192	JPMorgan Chase Bank^**		8/5/2026		3,858,956
EUR	21,890,000	USD	25,215,485	UBS AG		8/10/2026		32,916
MXN	202,400,000	USD	11,555,084	Goldman Sachs Bank USA		8/10/2026		125,212
MXN	366,200,000	USD	20,909,704	Wells Fargo Bank NA		8/10/2026		223,321
USD	17,677,699	EUR	15,120,000	Barclays Bank plc		8/10/2026		237,963
USD	11,879,599	EUR	10,280,000	Standard Chartered Bank		8/10/2026		22,424
USD	29,625,849	EUR	25,400,000	UBS AG		8/10/2026		328,937
USD	24,654,792	CLP	22,600,000,000	HSBC Bank plc^**		8/26/2026		343,542
AUD	25,900,000	USD	18,078,718	Morgan Stanley		8/31/2026		135,628
USD	24,295,082	AUD	34,140,000	Morgan Stanley		8/31/2026		285,902
NOK	174,100,000	USD	18,124,372	UBS AG		9/1/2026		237,748
INR	2,285,500,000	USD	23,679,030	HSBC Bank plc^**		9/15/2026		185,980
KRW	71,740,000,000	USD	48,516,900	Citibank NA^**		9/18/2026		1,834,034
CAD	50,440,000	USD	36,033,127	Citibank NA		10/15/2026		66,087
USD	37,995,468	CHF	30,430,000	UBS AG		10/19/2026		32,708
KRW	13,540,000,000	USD	9,180,408	Citibank NA^**		10/22/2026		329,912
EGP	716,000,000	USD	12,594,547	Goldman Sachs Bank USA^**		10/27/2026		1,403,498
SEK	287,700,000	USD	30,263,504	Goldman Sachs Bank USA		10/30/2026		93,075
EGP	521,600,000	USD	9,193,010	HSBC Bank plc^**		12/1/2026		1,004,448

Total unrealized appreciation								10,782,291

USD	33,638,695	COP	126,630,000,000	JPMorgan Chase Bank^**		8/5/2026		(6,488,452	)
EUR	920,000	USD	1,069,789	Standard Chartered Bank		8/10/2026		(8,641	)
USD	480,458	EUR	420,000	Standard Chartered Bank		8/10/2026		(3,980	)
USD	33,213,126	MXN	579,700,000	Goldman Sachs Bank USA		8/10/2026		(240,766	)
USD	31,174,933	MXN	543,200,000	HSBC Bank plc		8/10/2026		(172,580	)
NZD	41,110,000	USD	24,311,673	Morgan Stanley		8/14/2026		(88,077	)
USD	23,543,805	NZD	41,110,000	Morgan Stanley		8/14/2026		(679,790	)
CLP	60,370,000,000	USD	67,136,427	HSBC Bank plc^**		8/26/2026		(2,195,271	)
USD	40,392,266	CLP	37,770,000,000	HSBC Bank plc^**		8/26/2026		(237,641	)
AUD	840,000	USD	598,075	Wells Fargo Bank NA		8/31/2026		(7,340	)
USD	17,887,861	AUD	25,920,000	JPMorgan Chase Bank		8/31/2026		(340,550	)
USD	18,114,730	AUD	26,300,000	Morgan Stanley		8/31/2026		(380,919	)
CHF	30,430,000	USD	38,121,606	UBS AG		10/19/2026		(158,846	)
USD	75,228,048	GBP	56,230,000	UBS AG		10/22/2026		(556,428	)
USD	1,712,204	EGP	94,000,000	Goldman Sachs Bank USA^**		10/27/2026		(125,528	)

Total unrealized depreciation								(11,684,809	)

Net unrealized depreciation								(902,518	)

**	Non-deliverable forward.

See Notes to Portfolio of Investments.

1290 FUNDS

1290 DIVERSIFIED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities			Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)			Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)		Total
Assets:
Asset-Backed Securities	$	—		$	79,593,500		$	—	$	79,593,500
Collateralized Mortgage Obligations		—			41,835,863			—		41,835,863
Commercial Mortgage-Backed Securities		—			30,102,475			—		30,102,475
Convertible Bonds
Information Technology		—			870,584			—		870,584
Corporate Bonds
Communication Services		—			3,918,008			—		3,918,008
Energy		—			2,360,486			—		2,360,486
Financials		—			5,558,439			—		5,558,439
Real Estate		—			1,805,144			—		1,805,144
Foreign Government Securities		—			156,241,413			—		156,241,413
Forward Currency Contracts		—			10,782,291			—		10,782,291
Futures		3,845,978			—			—		3,845,978
Mortgage-Backed Securities		—			25,221,305			—		25,221,305
Short-Term Investments
Foreign Government Treasury Bills		—			26,957,917			—		26,957,917
Investment Companies		12,223,625			—			—		12,223,625
U.S. Treasury Obligations		—			195,506,281			—		195,506,281

Total Assets	$	16,069,603		$	580,753,706		$	—	$	596,823,309

Liabilities:
Forward Currency Contracts	$	—		$	(11,684,809	)	$	—	$	(11,684,809	)
Futures		(5,516,887	)		—			—		(5,516,887	)

Total Liabilities	$	(5,516,887	)	$	(11,684,809	)	$	—	$	(17,201,696	)

Total	$	10,552,716		$	569,068,897		$	—	$	579,621,613


Aggregate gross unrealized appreciation	$	25,399,269
Aggregate gross unrealized depreciation		(31,864,242	)

Net unrealized depreciation	$	(6,464,973	)

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	586,086,586

See Notes to Portfolio of Investments.

1290 FUNDS

1290 ESSEX SMALL CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
COMMON STOCKS:
Communication Services (0.3%)
*Entertainment (0.3%)*
CuriosityStream, Inc.		144,868	$	353,478

Total Communication Services				353,478

Consumer Discretionary (6.8%)
*Automobile Components (1.7%)*
Gentherm, Inc.*		28,902		1,172,843
Patrick Industries, Inc.		9,627		794,709

				1,967,552

*Diversified Consumer Services (3.3%)*
Legacy Education, Inc.*		80,484		948,906
Lincoln Educational Services Corp.*		70,417		2,944,839

				3,893,745

*Leisure Products (0.9%)*
Johnson Outdoors, Inc., Class A		22,827		1,070,815

*Specialty Retail (0.9%)*
RealReal, Inc. (The)*		83,436		1,008,741

Total Consumer Discretionary				7,940,853

Consumer Staples (1.8%)
*Food Products (1.8%)*
BRC, Inc., Class A*		636,845		655,950
Mama’s Creations, Inc.*		79,626		1,467,507

Total Consumer Staples				2,123,457

Energy (5.4%)
*Energy Equipment & Services (4.9%)*
Energy Services of America Corp.		58,547		841,906
Expro Ltd.*		36,825		587,359
Forum Energy Technologies, Inc.*		16,035		1,004,913
Oceaneering International, Inc.*		38,914		1,898,225
TETRA Technologies, Inc.*		180,366		1,388,818

				5,721,221

*Oil, Gas & Consumable Fuels (0.5%)*
Matador Resources Co.		10,555		526,589

Total Energy				6,247,810

Financials (5.9%)
*Banks (1.3%)*
Amerant Bancorp, Inc., Class A		35,986		1,065,186
Riverview Bancorp, Inc.		90,993		482,263

				1,547,449

*Capital Markets (1.4%)*
BGC Group, Inc., Class A		82,526		950,699
Evercore, Inc., Class A		2,205		706,835

				1,657,534

*Financial Services (0.7%)*
Paymentus Holdings, Inc., Class A*		23,256		793,030

*Insurance (2.5%)*
Exzeo Group, Inc.*		46,440		720,749
HCI Group, Inc.		6,554		1,147,015
Octave Specialty Group, Inc.*		179,522		969,419

				2,837,183

Total Financials				6,835,196

Health Care (24.8%)
*Biotechnology (8.6%)*
Arcutis Biotherapeutics, Inc.*		35,341		949,259
Insmed, Inc.*		8,411		829,325
Kiniksa Pharmaceuticals International plc, Class A*		40,770		3,030,842
Mirum Pharmaceuticals, Inc.*		12,873		1,363,894
Precigen, Inc.*		182,092		1,141,717
Tonix Pharmaceuticals Holding Corp.(x)*		73,840		739,138
Travere Therapeutics, Inc.*		34,669		1,937,651

				9,991,826

*Health Care Equipment & Supplies (5.9%)*
Apyx Medical Corp.*		276,178		1,132,330
Brainsway Ltd. (ADR)(x)*		138,592		2,110,756
EDAP TMS SA (ADR)*		124,974		764,841
NeuroPace, Inc.*		50,804		654,863
Novocure Ltd.*		64,720		960,445
SI-BONE, Inc.*		65,789		1,168,413

				6,791,648

*Health Care Providers & Services (1.1%)*
Biodesix, Inc.*		58,950		1,249,740

*Health Care Technology (0.8%)*
Sophia Genetics SA*		161,368		914,956

*Life Sciences Tools & Services (2.2%)*
Adaptive Biotechnologies Corp.*		114,764		2,590,223

*Pharmaceuticals (6.2%)*
EyePoint, Inc.*		29,694		363,751
Ligand Pharmaceuticals, Inc.*		5,311		1,527,125
Liquidia Corp.*		19,341		1,626,772
Nuvation Bio, Inc.*		214,163		1,355,652
Ocular Therapeutix, Inc.*		118,351		966,928
Xeris Biopharma Holdings, Inc.*		174,503		1,409,984

				7,250,212

Total Health Care				28,788,605

Industrials (27.0%)
*Aerospace & Defense (4.5%)*
Kratos Defense & Security Solutions, Inc.*		27,579		1,285,181
Leonardo DRS, Inc.		60,431		2,782,848
Park Aerospace Corp.		34,971		1,185,517

				5,253,546

*Air Freight & Logistics (0.2%)*
Freightos Ltd.*		233,477		268,499

*Building Products (0.9%)*
Griffon Corp.		11,541		994,488

*Commercial Services & Supplies (1.8%)*
Interface, Inc., Class A		31,874		1,092,003
Liquidity Services, Inc.*		25,226		983,310

				2,075,313

*Construction & Engineering (4.9%)*
Argan, Inc.		3,787		2,160,218
Everus Construction Group, Inc.*		9,338		1,171,265
Orion Group Holdings, Inc.*		107,389		1,050,265
Sterling Infrastructure, Inc.*		2,241		1,337,362

				5,719,110

*Electrical Equipment (2.5%)*
American Superconductor Corp.*		29,865		877,135
Amprius Technologies, Inc.*		56,655		543,888
LSI Industries, Inc.		63,619		1,488,048

				2,909,071

*Ground Transportation (1.0%)*
Werner Enterprises, Inc.		31,985		1,196,879

See Notes to Portfolio of Investments.

1290 FUNDS

1290 ESSEX SMALL CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
*Machinery (5.6%)*
CECO Environmental Corp.*		36,711	$	2,418,888
Columbus McKinnon Corp.		67,813		1,299,975
FreightCar America, Inc.(x)*		81,965		653,261
Graham Corp.*		22,816		2,188,054

				6,560,178

*Professional Services (3.5%)*
BlackSky Technology, Inc., Class A*		31,723		731,215
IBEX Holdings Ltd.*		23,856		843,071
Mistras Group, Inc.*		62,657		953,013
Upwork, Inc.*		33,809		309,690
Willdan Group, Inc.*		18,209		1,247,863

				4,084,852

*Trading Companies & Distributors (2.1%)*
BlueLinx Holdings, Inc.*		21,077		1,142,795
Xometry, Inc., Class A*		14,364		1,231,282

				2,374,077

Total Industrials				31,436,013

Information Technology (24.5%)
*Communications Equipment (1.6%)*
KVH Industries, Inc.*		71,220		659,497
Lantronix, Inc.*		224,732		1,209,058

				1,868,555

*Electronic Equipment, Instruments & Components (7.6%)*
908 Devices, Inc.*		113,551		909,544
Arlo Technologies, Inc.*		47,206		694,872
Coda Octopus Group, Inc.*		77,797		788,862
Daktronics, Inc.*		52,729		1,042,453
Frequency Electronics, Inc.*		21,690		1,257,369
LightPath Technologies, Inc., Class A(x)*		63,309		656,514
Mirion Technologies, Inc., Class A*		75,799		1,135,469
Novanta, Inc.*		4,813		686,093
Ouster, Inc.*		43,032		1,678,678

				8,849,854

*IT Services (1.7%)*
Crexendo, Inc.*		172,534		1,187,034
Information Services Group, Inc.		196,043		815,539

				2,002,573

*Semiconductors & Semiconductor Equipment (5.7%)*
Ambarella, Inc.*		12,065		1,037,590
Cohu, Inc.*		31,887		1,530,257
Diodes, Inc.*		12,091		995,331
Semtech Corp.*		9,819		1,156,875
Tower Semiconductor Ltd.*		8,931		1,961,873

				6,681,926

*Software (7.9%)*
Arteris, Inc.*		67,797		2,025,774
AvePoint, Inc.*		90,691		1,181,704
Blend Labs, Inc., Class A*		476,049		847,367
Docebo, Inc.*		40,055		827,937
Intellicheck, Inc.(x)*		118,123		426,424
Mitek Systems, Inc.*		64,499		1,077,133
Red Violet, Inc.*		16,097		1,116,810
Riskified Ltd., Class A*		188,346		977,516
Zeta Global Holdings Corp., Class A*		30,215		652,644

				9,133,309

Total Information Technology				28,536,217

Total Common Stocks (96.5%) (Cost $70,978,520)				112,261,629

EXCHANGE TRADED FUNDS (ETF):
Equity (0.9%)
iShares Russell 2000 Growth ETF(x)		2,754		1,020,825

Total Exchange Traded Funds (0.9%) (Cost $979,435)				1,020,825

SHORT-TERM INVESTMENTS:
Investment Companies (4.3%)
Invesco Government & Agency Portfolio, Institutional Shares 3.65% (7 day yield) (xx)		2,212,813		2,212,813
JPMorgan Prime Money Market Fund, IM Shares 3.84% (7 day yield)		2,665,672		2,665,938
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 3.57% (7 day yield) (xx)		100,000		100,000

Total Investment Companies				4,978,751

Total Short-Term Investments (4.3%) (Cost $4,978,693)				4,978,751

Total Investments in Securities (101.7%) (Cost $76,936,648)				118,261,205
Other Assets Less Liabilities (-1.7%)				(1,930,259	)

Net Assets (100%)			$	116,330,946

*	Non-income producing.

(x)

All or a portion of security is on loan at July 31, 2026.

(xx)

At July 31, 2026, the Fund had loaned securities with a total value of $2,278,921. This was collateralized by $32,033 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 8/11/26 – 11/15/55 and by cash of $2,312,813 which was subsequently invested in investment companies.

Glossary:

ADR — American Depositary Receipt

USD — United States Dollar

See Notes to Portfolio of Investments.

1290 FUNDS

1290 ESSEX SMALL CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities		Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Communication Services	$	353,478	$	—	$	—	$	353,478
Consumer Discretionary		7,940,853		—		—		7,940,853
Consumer Staples		2,123,457		—		—		2,123,457
Energy		6,247,810		—		—		6,247,810
Financials		6,835,196		—		—		6,835,196
Health Care		28,788,605		—		—		28,788,605
Industrials		31,436,013		—		—		31,436,013
Information Technology		28,536,217		—		—		28,536,217
Exchange Traded Fund		1,020,825		—		—		1,020,825
Short-Term Investments
Investment Companies		4,978,751		—		—		4,978,751

Total Assets	$	118,261,205	$	—	$	—	$	118,261,205

Total Liabilities	$	—	$	—	$	—	$	—

Total	$	118,261,205	$	—	$	—	$	118,261,205


Aggregate gross unrealized appreciation	$	45,240,580
Aggregate gross unrealized depreciation		(4,199,582	)

Net unrealized appreciation	$	41,040,998

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	77,220,207

See Notes to Portfolio of Investments.

1290 FUNDS

1290 GAMCO SMALL/MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
COMMON STOCKS:
Communication Services (19.5%)
*Diversified Telecommunication Services (3.2%)*
Anterix, Inc.*		7,000	$	651,140
Grupo Televisa SAB (ADR)*		850,000		2,380,000
Liberty Global Ltd., Class A*		40,000		424,400
Telesat Corp.(x)*		113,200		4,217,832

				7,673,372

*Entertainment (7.6%)*
Atlanta Braves Holdings, Inc., Class A(x)*		48,000		2,611,680
Atlanta Braves Holdings, Inc., Class C*		33,000		1,677,390
Lionsgate Studios Corp.*		73,000		969,440
Madison Square Garden Entertainment Corp., Class A*		20,000		1,545,200
Madison Square Garden Sports Corp.*		16,000		6,298,880
Manchester United plc, Class A*		26,000		598,260
Sphere Entertainment Co.*		30,000		4,297,500
Starz Entertainment Corp.*		4,228		110,012
Vivendi SE		70,000		128,830

				18,237,192

*Media (6.4%)*
AMC Global Media, Inc.(x)*		35,000		392,000
Clear Channel Outdoor Holdings, Inc.*		510,000		1,234,200
Corus Entertainment, Inc., Class B*		72,000		2,054
EchoStar Corp., Class A*		13,000		1,093,170
EW Scripps Co. (The), Class A*		70,000		196,700
Fox Corp., Class B		12,000		623,280
JCDecaux SE		40,000		1,044,293
News Corp., Class B		20,000		625,400
Nexstar Media Group, Inc., Class A		15,500		2,953,215
Optimum Communications, Inc., Class A*		1,541		1,175
Paramount Skydance Corp., Class B(x)		2,500		19,900
Sinclair, Inc.		204,000		2,802,960
Sirius XM Holdings, Inc.		40,000		1,184,800
Versant Media Group, Inc.		85,000		3,059,150

				15,232,297

*Wireless Telecommunication Services (2.3%)*
Array Digital Infrastructure, Inc.		30,000		1,045,200
Gogo, Inc.*		12,900		53,922
Millicom International Cellular SA		34,500		3,294,060
Telephone and Data Systems, Inc.		30,000		1,007,400

				5,400,582

Total Communication Services				46,543,443

Consumer Discretionary (14.4%)
*Automobile Components (3.1%)*
Dana, Inc.		31,000		834,830
Garrett Motion, Inc.		20,000		623,000
Gentex Corp.		35,000		817,600
Gentherm, Inc.*		13,500		547,830
Goodyear Tire & Rubber Co. (The)*		210,000		1,459,500
Strattec Security Corp.*		37,000		3,251,930

				7,534,690

*Automobiles (0.1%)*
Winnebago Industries, Inc.		9,500		287,660

*Distributors (0.2%)*
LKQ Corp.		22,000		493,900

*Diversified Consumer Services (1.4%)*
Graham Holdings Co., Class B		800		962,832
Liberty Live Holdings, Inc., Class A*		1,000		94,720
Matthews International Corp., Class A		80,000		2,220,000

				3,277,552

*Hotels, Restaurants & Leisure (3.4%)*
Caesars Entertainment, Inc.*		125,000		3,718,750
Churchill Downs, Inc.		12,000		1,011,600
Krispy Kreme, Inc.*		25,000		79,500
Nathan’s Famous, Inc.		20,000		1,962,200
Ollamani SAB*		130,000		574,283
Wynn Resorts Ltd.		6,800		675,308

				8,021,641

*Household Durables (0.5%)*
Bassett Furniture Industries, Inc.		24,000		455,280
Lennar Corp., Class B(x)		9,000		726,300

				1,181,580

*Leisure Products (1.8%)*
Brunswick Corp.		20,000		1,580,000
Johnson Outdoors, Inc., Class A		47,000		2,204,770
Mattel, Inc.*		12,900		194,661
Sturm Ruger & Co., Inc.		9,000		334,530

				4,313,961

*Specialty Retail (3.9%)*
Advance Auto Parts, Inc.(x)		100,000		5,554,000
AutoNation, Inc.*		6,500		1,380,600
Lands’ End, Inc.(x)*		11,088		133,278
Monro, Inc.(x)		150,000		1,837,500
Valvoline, Inc.*		8,000		307,280

				9,212,658

Total Consumer Discretionary				34,323,642

Consumer Staples (7.3%)
*Beverages (1.0%)*
Boston Beer Co., Inc. (The), Class A*		3,500		641,200
National Beverage Corp.		26,000		822,640
Remy Cointreau SA(x)		15,500		866,523

				2,330,363

*Consumer Staples Distribution & Retail (0.3%)*
Albertsons Cos., Inc., Class A		8,000		92,640
Ingles Markets, Inc., Class A		2,000		180,020
Village Super Market, Inc., Class A		10,000		439,400

				712,060

*Food Products (2.7%)*
Bunge Global SA		3,000		318,690
Campbell’s Co. (The)(x)		15,000		329,700
Canada Packers, Inc.		11,000		149,638
J M Smucker Co. (The)		24,000		2,862,240
John B Sanfilippo & Son, Inc.		11,000		910,360
Maple Leaf Foods, Inc.		53,000		1,081,286
McCormick & Co., Inc. (Non-Voting)		3,000		152,850
Mission Produce, Inc.*		47,971		604,914

				6,409,678

*Household Products (2.6%)*
Energizer Holdings, Inc.		108,000		2,264,760
Spectrum Brands Holdings, Inc.		45,000		3,994,650

				6,259,410

*Personal Care Products (0.7%)*
BellRing Brands, Inc.*		25,000		309,750
Edgewell Personal Care Co.		55,000		1,495,450

				1,805,200

Total Consumer Staples				17,516,711

See Notes to Portfolio of Investments.

1290 FUNDS

1290 GAMCO SMALL/MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
Energy (1.3%)
*Energy Equipment & Services (1.3%)*
Innovex International, Inc.*		61,000	$	1,712,880
Oceaneering International, Inc.*		16,000		780,480
RPC, Inc.		104,000		583,440

Total Energy				3,076,800

Financials (1.7%)
*Banks (1.4%)*
Huntington Bancshares, Inc.		24,750		421,740
OceanFirst Financial Corp.		22,950		443,165
Pinnacle Financial Partners, Inc.		18,853		1,983,901
SouthState Bank Corp.		6,000		630,540

				3,479,346

*Capital Markets (0.2%)*
Affiliated Managers Group, Inc.		1,000		366,730
DigitalBridge Group, Inc.		1,000		15,870

				382,600

*Financial Services (0.1%)*
NCR Atleos Corp.*		4,000		188,120

Total Financials				4,050,066

Health Care (2.0%)
*Health Care Equipment & Supplies (0.6%)*
Align Technology, Inc.*		100		16,916
Bausch + Lomb Corp.*		15,000		253,650
Dentsply Sirona, Inc.		22,000		294,140
Neogen Corp.*		35,000		421,400
QuidelOrtho Corp.*		20,000		335,400

				1,321,506

*Health Care Providers & Services (0.6%)*
Henry Schein, Inc.*		10,000		857,500
Option Care Health, Inc.*		20,000		460,600

				1,318,100

*Health Care Technology (0.0%)†*
Evolent Health, Inc., Class A*		35,000		108,150

*Life Sciences Tools & Services (0.0%)†*
Bio-Rad Laboratories, Inc., Class A*		300		97,644

*Pharmaceuticals (0.8%)*
Perrigo Co. plc		85,000		859,350
Teva Pharmaceutical Industries Ltd. (ADR)*		32,500		1,137,825

				1,997,175

Total Health Care				4,842,575

Industrials (33.4%)
*Aerospace & Defense (7.2%)*
AAR Corp.*		19,500		2,730,780
Boeing Co. (The)*		2,346		507,064
Ducommun, Inc.*		3,600		644,472
Embraer SA (ADR)		2,000		136,660
Hexcel Corp.		14,500		1,492,775
Moog, Inc., Class A		9,500		3,703,575
Moog, Inc., Class B		12,800		4,990,080
National Presto Industries, Inc.		2,000		242,840
Park Aerospace Corp.		3,000		101,700
Textron, Inc.		30,000		2,557,800

				17,107,746

*Building Products (3.2%)*
AZZ, Inc.		18,300		2,648,376
Fortune Brands Innovations, Inc.		17,000		837,420
Griffon Corp.		9,500		818,615
Modine Manufacturing Co.*		16,200		3,257,172

				7,561,583

*Commercial Services & Supplies (0.4%)*
OPENLANE, Inc.*		20,000		795,200
UniFirst Corp.		1,000		292,980

				1,088,180

*Construction & Engineering (1.7%)*
Arcosa, Inc.		15,000		2,178,000
Everus Construction Group, Inc.*		600		75,258
Valmont Industries, Inc.		3,600		1,734,120

				3,987,378

*Machinery (18.6%)*
Albany International Corp., Class A		20,000		1,490,200
Astec Industries, Inc.		63,000		3,191,580
CNH Industrial NV		31,000		317,750
Commercial Vehicle Group, Inc.*		78,000		353,340
Crane Co.		17,500		3,735,550
Donaldson Co., Inc.		1,000		94,240
Eastern Co. (The)		27,000		640,440
Enerpac Tool Group Corp., Class A		36,000		1,286,640
Enpro, Inc.		3,700		1,161,504
Flowserve Corp.		40,900		3,107,991
Franklin Electric Co., Inc.		9,000		942,480
Gorman-Rupp Co. (The)		15,000		1,217,850
Graco, Inc.		2,500		198,450
Hyster-Yale, Inc.		36,500		1,220,195
Ingersoll Rand, Inc.		15,200		1,267,376
ITT, Inc.		12,000		2,351,760
Kennametal, Inc.		30,000		1,019,100
L B Foster Co., Class A*		41,500		1,706,895
Manitowoc Co., Inc. (The)*		23,500		325,475
Mueller Industries, Inc.		72,000		4,781,520
Mueller Water Products, Inc., Class A		42,000		1,060,080
Park-Ohio Holdings Corp.		85,000		3,394,050
Snap-on, Inc.		1,300		533,533
Tennant Co.		14,500		1,218,435
Terex Corp.		13,000		816,920
Timken Co. (The)		1,000		137,550
Toro Co. (The)		7,500		689,025
Trinity Industries, Inc.		64,000		1,999,360
Twin Disc, Inc.		117,000		2,668,770
Watts Water Technologies, Inc., Class A		4,500		1,556,055

				44,484,114

*Trading Companies & Distributors (2.3%)*
GATX Corp.		12,500		2,235,875
Herc Holdings, Inc.		19,000		2,852,660
MSC Industrial Direct Co., Inc., Class A		1,000		123,400
Sunbelt Rentals Holdings, Inc.		1,200		86,304
Sunbelt Rentals Holdings, Inc. (London Stock Exchange)		2,300		164,043

				5,462,282

Total Industrials				79,691,283

Information Technology (1.9%)
*Communications Equipment (0.4%)*
Viasat, Inc.*		14,000		1,077,020

*Electronic Equipment, Instruments & Components (0.9%)*
Badger Meter, Inc.		6,000		806,100
Crane NXT Co.		500		25,975
Landis+Gyr Group AG		19,000		1,072,855
Mirion Technologies, Inc., Class A*		14,000		209,720

				2,114,650

See Notes to Portfolio of Investments.

1290 FUNDS

1290 GAMCO SMALL/MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
*IT Services (0.4%)*
Kyndryl Holdings, Inc.*		65,000	$	880,750

*Software (0.2%)*
A10 Networks, Inc.		12,000		354,840
NCR Voyix Corp.(x)*		10,000		82,700

				437,540

Total Information Technology				4,509,960

Materials (8.3%)
*Chemicals (4.6%)*
Axalta Coating Systems Ltd.*		23,000		823,630
Core Molding Technologies, Inc.*		64,500		1,519,620
Element Solutions, Inc.		65,900		2,420,507
FMC Corp.		26,000		278,460
HB Fuller Co.		16,500		912,450
Huntsman Corp.		60,000		585,600
Olin Corp.		22,000		407,220
Scotts Miracle-Gro Co. (The)		60,000		3,940,800

				10,888,287

*Construction Materials (0.6%)*
Knife River Corp.*		18,000		1,317,060

*Containers & Packaging (1.7%)*
Ardagh Metal Packaging SA		60,000		283,800
Greif, Inc., Class A		19,000		1,644,450
Myers Industries, Inc.		60,000		2,049,600
Silgan Holdings, Inc.		5,000		199,900

				4,177,750

*Metals & Mining (1.4%)*
Ampco-Pittsburgh Corp.*		120,000		964,800
Freeport-McMoRan, Inc.		19,100		1,196,233
Tredegar Corp.*		169,500		1,286,505

				3,447,538

Total Materials				19,830,635

Real Estate (0.8%)
*Hotel & Resort REITs (0.3%)*
Ryman Hospitality Properties, Inc. (REIT)		5,000		668,250

*Real Estate Management & Development (0.2%)*
Seritage Growth Properties, Class A*		12,000		28,920
St Joe Co. (The)		8,000		497,920

				526,840

*Specialized REITs (0.3%)*
Millrose Properties, Inc. (REIT)		4,350		121,713
VICI Properties, Inc. (REIT), Class A		27,059		713,005

				834,718

Total Real Estate				2,029,808

Utilities (4.7%)
*Electric Utilities (0.1%)*
MGE Energy, Inc.		4,000		318,120

*Gas Utilities (2.6%)*
MDU Resources Group, Inc.		2,400		47,880
National Fuel Gas Co.		48,500		3,992,035
Southwest Gas Holdings, Inc.		24,000		2,145,600

				6,185,515

*Independent Power and Renewable Electricity Producers (0.7%)*
AES Corp. (The)		80,000		1,174,400
XPLR Infrastructure LP*		35,000		416,500

				1,590,900

*Multi-Utilities (1.3%)*
Algonquin Power & Utilities Corp.		340,000		1,985,600
Avista Corp.		27,000		1,092,150

				3,077,750

Total Utilities				11,172,285

Total Common Stocks (95.3%) (Cost $152,472,742)				227,587,208

SHORT-TERM INVESTMENTS:
Investment Companies (6.9%)
Dreyfus Treasury Obligations Cash Management Fund 3.55% (7 day yield) (xx)		1,200,000		1,200,000
Invesco Government & Agency Portfolio, Institutional Shares 3.65% (7 day yield) (xx)		3,692,315		3,692,315
JPMorgan Prime Money Market Fund, IM Shares 3.84% (7 day yield)		11,588,826		11,589,985
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 3.57% (7 day yield) (xx)		100,000		100,000

Total Investment Companies				16,582,300

Total Short-Term Investments (6.9%) (Cost $16,582,390)				16,582,300

Total Investments in Securities (102.2%) (Cost $169,055,132)				244,169,508
Other Assets Less Liabilities (-2.2%)				(5,229,644	)

Net Assets (100%)			$	238,939,864

*	Non-income producing.

†	Percent shown is less than 0.05%.

(x)

All or a portion of security is on loan at July 31, 2026.

(xx)

At July 31, 2026, the Fund had loaned securities with a total value of $6,848,962. This was collateralized by $2,036,045 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.250%, maturing 8/15/26 – 5/15/55 and by cash of $4,992,315 which was subsequently invested in investment companies.

Glossary:

ADR — American Depositary Receipt

REIT — Real Estate Investment Trust

See Notes to Portfolio of Investments.

1290 FUNDS

1290 GAMCO SMALL/MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities		Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Communication Services	$	45,370,320	$	1,173,123	$	—	$	46,543,443
Consumer Discretionary		34,323,642		—		—		34,323,642
Consumer Staples		16,650,188		866,523		—		17,516,711
Energy		3,076,800		—		—		3,076,800
Financials		4,050,066		—		—		4,050,066
Health Care		4,842,575		—		—		4,842,575
Industrials		74,537,160		5,154,123		—		79,691,283
Information Technology		3,437,105		1,072,855		—		4,509,960
Materials		19,830,635		—		—		19,830,635
Real Estate		2,029,808		—		—		2,029,808
Utilities		11,172,285		—		—		11,172,285
Short-Term Investments
Investment Companies		16,582,300		—		—		16,582,300

Total Assets	$	235,902,884	$	8,266,624	$	—	$	244,169,508

Total Liabilities	$	—	$	—	$	—	$	—

Total	$	235,902,884	$	8,266,624	$	—	$	244,169,508


Aggregate gross unrealized appreciation	$	83,959,311
Aggregate gross unrealized depreciation		(12,491,875	)

Net unrealized appreciation	$	71,467,436

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	172,702,072

See Notes to Portfolio of Investments.

1290 FUNDS

1290 HIGH YIELD BOND FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
LONG-TERM DEBT SECURITIES:
Corporate Bonds (93.2%)
Communication Services (8.3%)
*Diversified Telecommunication Services (3.3%)*
CCO Holdings LLC
5.375%, 6/1/29§	$	306,000	$	296,906
6.375%, 9/1/29§		290,000		287,677
4.750%, 2/1/32(x)§		486,000		424,035
4.500%, 6/1/33(x)§		668,000		566,150
7.375%, 2/1/36(x)§		484,000		459,800
Level 3 Financing, Inc.
6.875%, 6/30/33§		338,000		341,803
SE Cosmos LLC
8.875%, 5/1/31§		407,000		400,895
Windstream Services LLC
8.250%, 10/1/31§		351,000		364,387
Zayo Group Holdings, Inc.
5.750%, 3/9/30 PIK§		186,273		185,574

				3,327,227

*Entertainment (0.2%)*
Live Nation Entertainment, Inc.
6.500%, 5/15/27§		186,000		185,888

*Media (4.8%)*
Discovery Global Holdings, Inc.
5.050%, 3/15/42		166,000		114,454
Gray Media, Inc.
10.500%, 7/15/29§		129,000		135,810
4.750%, 10/15/30§		514,000		396,422
9.625%, 7/15/32§		258,000		260,580
McGraw-Hill Education, Inc.
8.000%, 8/1/29§		689,000		682,971
Neptune Bidco US, Inc.
9.290%, 4/15/29§		785,000		798,492
9.500%, 2/15/33§		188,000		191,525
Nexstar Media, Inc.
6.500%, 9/15/33§		268,000		266,660
Outfront Media Capital LLC
4.250%, 1/15/29§		49,000		47,519
Sirius XM Radio LLC
3.125%, 9/1/26§		274,000		272,918
5.500%, 7/1/29§		352,000		349,853
3.875%, 9/1/31§		390,000		351,564
Univision Communications, Inc.
8.500%, 7/31/31§		664,000		661,238
VZ Secured Financing BV
5.000%, 1/15/32§		270,000		221,400

				4,751,406

Total Communication Services				8,264,521

Consumer Discretionary (16.1%)
*Automobile Components (1.9%)*
Clarios Global LP
6.750%, 5/15/28§		467,000		473,711
6.750%, 2/15/30§		145,000		148,619
6.750%, 9/15/32§		394,000		398,452
Forvia SE
8.000%, 6/15/30§		450,000		472,500
ZF North America Capital, Inc.
7.500%, 3/24/31(x)§		365,000		366,825

				1,860,107

*Broadline Retail (0.3%)*
Getty Images, Inc.
14.000%, 3/1/28§		436,000		294,300

*Distributors (3.4%)*
ADI Escrow Issuer LLC
7.125%, 7/15/34§		308,000		314,151
Core & Main LP
6.000%, 7/1/34§		126,000		125,288
RB Global Holdings, Inc.
6.750%, 3/15/28§		396,000		398,736
7.750%, 3/15/31§		830,000		854,641
Resideo Funding II LLC
6.500%, 7/15/32§		339,000		340,631
S&S Holdings LLC
8.375%, 10/1/31§		517,000		498,533
Velocity Vehicle Group LLC
8.000%, 6/1/29§		281,000		278,184
Windsor Holdings III LLC
8.500%, 6/15/30§		582,000		604,226

				3,414,390

*Diversified Consumer Services (0.4%)*
Service Corp. International
5.750%, 10/15/32		182,000		180,408
Wand NewCo 3, Inc.
7.625%, 1/30/32§		242,000		248,369

				428,777

*Hotels, Restaurants & Leisure (7.0%)*
1011778 BC ULC
3.875%, 1/15/28§		361,000		354,408
5.625%, 9/15/29§		396,000		395,010
A&K Travel Group Holdings Ltd.
7.500%, 5/15/33§		200,000		199,104
Caesars Entertainment, Inc.
7.000%, 2/15/30§		974,000		976,289
Carnival Corp. Ltd.
7.000%, 8/15/29§		232,000		239,633
5.750%, 8/1/32§		256,000		253,440
Churchill Downs, Inc.
5.750%, 4/1/30§		499,000		496,625
Flutter Treasury DAC
6.375%, 4/29/29§		200,000		202,218
5.875%, 6/4/31§		215,000		212,140
Hilton Domestic Operating Co., Inc.
5.500%, 9/15/31§		198,000		196,070
5.500%, 3/31/34§		284,000		277,166
Kingpin Intermediate Holdings LLC
7.250%, 10/15/32(x)§		363,000		294,847
Lindblad Expeditions LLC
7.000%, 9/15/30§		255,000		262,446
NCL Corp. Ltd.
6.750%, 2/1/32§		240,000		235,200
Ontario Gaming GTA LP
8.000%, 8/1/30§		436,000		434,910
Sabre GLBL, Inc.
11.125%, 7/15/30§		373,000		359,012
Scientific Games Holdings LP
6.625%, 3/1/30§		269,000		216,610

See Notes to Portfolio of Investments.

1290 FUNDS

1290 HIGH YIELD BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
Six Flags Entertainment Corp.
8.625%, 1/15/32§	$	282,000	$	285,311
Station Casinos LLC
4.500%, 2/15/28§		188,000		184,561
Viking Cruises Ltd.
7.000%, 2/15/29§		334,000		333,927
Voyager Parent LLC
9.250%, 7/1/32§		166,000		176,375
Wyndham Hotels & Resorts, Inc.
4.375%, 8/15/28§		203,000		198,357
5.625%, 3/1/33§		146,000		141,981

				6,925,640

*Household Durables (1.3%)*
Century Communities, Inc.
6.625%, 9/15/33§		259,000		259,308
Newell Brands, Inc.
8.500%, 6/1/28§		251,000		262,501
6.625%, 5/15/32(x)		431,000		435,310
Whirlpool Corp.
7.875%, 7/1/34§		302,000		284,279

				1,241,398

*Specialty Retail (1.0%)*
Gee Automotive Holdings LLC
7.250%, 3/1/31§		265,000		266,208
Global Auto Holdings Ltd.
8.375%, 1/15/29(x)§		600,000		590,664
Group 1 Automotive, Inc.
4.000%, 8/15/28§		120,000		115,991

				972,863

*Textiles, Apparel & Luxury Goods (0.8%)*
Champ Acquisition Corp.
8.375%, 12/1/31§		534,000		552,690
William Carter Co. (The)
7.375%, 2/15/31(x)§		278,000		284,644

				837,334

Total Consumer Discretionary				15,974,809

Consumer Staples (5.6%)
*Beverages (0.3%)*
Primo Water Holdings, Inc.
6.250%, 4/1/29§		104,000		104,132
4.375%, 4/30/29§		222,000		214,927

				319,059

*Consumer Staples Distribution & Retail (1.1%)*
Performance Food Group, Inc.
6.125%, 9/15/32§		143,000		143,364
5.625%, 3/1/34§		332,000		321,801
US Foods, Inc.
4.750%, 2/15/29§		140,000		137,725
7.250%, 1/15/32§		433,000		446,393

				1,049,283

*Food Products (3.0%)*
Darling Ingredients, Inc.
6.000%, 6/15/30§		536,000		538,492
Fiesta Purchaser, Inc.
9.625%, 9/15/32(x)§		296,000		276,464
Froneri Lux FinCo. Sarl
6.000%, 8/1/32§		264,000		257,619
Post Holdings, Inc.
4.625%, 4/15/30§		392,000		377,300
6.250%, 2/15/32§		303,000		303,758
6.500%, 3/15/36§		299,000		291,540
Simmons Foods, Inc.
4.625%, 3/1/29§		158,000		152,470
Viking Baked Goods
Acquisition Corp.
8.625%, 11/1/31§		751,000		754,755

				2,952,398

*Household Products (0.8%)*
Energizer Holdings, Inc.
4.750%, 6/15/28§		666,000		657,821
4.375%, 3/31/29§		108,000		103,652

				761,473

*Personal Care Products (0.4%)*
Opal Bidco SAS
6.500%, 3/31/32§		200,000		200,736
Prestige Brands, Inc.
6.250%, 7/15/34§		248,000		248,618

				449,354

Total Consumer Staples				5,531,567

Energy (8.7%)
*Energy Equipment & Services (0.7%)*
Transocean International Ltd.
8.750%, 2/15/30§		162,400		168,394
WBI Operating LLC
6.500%, 10/15/33§		542,000		540,867

				709,261

*Oil, Gas & Consumable Fuels (8.0%)*
Antero Midstream Partners LP
5.750%, 1/15/28§		176,000		175,577
5.750%, 7/1/34§		484,000		473,236
Blue Racer Midstream LLC
7.250%, 7/15/32§		193,000		197,995
Crescent Energy Finance LLC
7.625%, 4/1/32§		603,000		608,343
Delek Logistics Partners LP
8.625%, 3/15/29§		254,000		263,083
7.375%, 6/30/33§		370,000		378,185
6.875%, 6/1/34§		466,000		468,274
Genesis Energy LP
7.875%, 5/15/32		526,000		542,700
6.750%, 3/15/34		442,000		440,343
Kinetik Holdings LP
6.625%, 12/15/28§		84,000		85,164
5.875%, 6/15/30§		529,000		529,206
NGL Energy Operating LLC
8.375%, 2/15/32§		884,000		916,991
Northern Oil & Gas, Inc.
7.875%, 10/15/33§		328,000		327,452
Permian Resources Operating LLC
5.875%, 7/1/29(x)§		333,000		333,150
6.250%, 2/1/33§		233,000		237,007
Summit Midstream Holdings LLC
8.625%, 10/31/29§		1,001,000		1,037,537
Sunoco LP
4.500%, 5/15/29		240,000		233,474
7.250%, 5/1/32§		204,000		209,718

See Notes to Portfolio of Investments.

1290 FUNDS

1290 HIGH YIELD BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
5.625%, 7/15/34§	$	426,000	$	411,482

				7,868,917

Total Energy				8,578,178

Financials (6.3%)
*Banks (0.6%)*
Armor Holdco, Inc.
8.500%, 11/15/29§		561,000		558,767

*Capital Markets (0.1%)*
Aretec Group, Inc.
10.000%, 8/15/30§		134,000		140,908

*Consumer Finance (0.5%)*
GGAM Finance Ltd.
8.000%, 2/15/27§		199,000		198,968
8.000%, 6/15/28§		340,000		351,057

				550,025

*Financial Services (2.2%)*
Block, Inc.
6.000%, 8/15/33§		135,000		133,809
Freedom Mortgage Holdings LLC
9.250%, 2/1/29§		232,000		239,227
8.375%, 4/1/32§		344,000		345,324
ION Platform Finance US, Inc.
7.875%, 9/30/32§		450,000		355,517
Rocket Cos., Inc.
6.500%, 6/15/34§		404,000		406,828
Shift4 Payments LLC
6.750%, 8/15/32§		714,000		714,885

				2,195,590

*Insurance (2.4%)*
Acrisure LLC
8.250%, 2/1/29§		612,000		585,990
Ardonagh Finco Ltd.
7.750%, 2/15/31§		200,000		203,000
Ardonagh Group Finance Ltd.
8.875%, 2/15/32§		400,000		398,120
Asurion LLC
8.000%, 12/31/32§		334,000		337,374
8.375%, 2/1/34§		110,000		100,100
Broadstreet Partners Group LLC
5.875%, 4/15/29§		322,000		314,768
HUB International Ltd.
7.250%, 6/15/30§		392,000		403,207

				2,342,559

*Mortgage Real Estate Investment Trusts (REITs) (0.5%)*
Starwood Property Trust, Inc. (REIT)
6.500%, 7/1/30§		135,000		136,604
6.125%, 6/1/31§		334,000		333,849

				470,453

Total Financials				6,258,302

Health Care (4.9%)
*Biotechnology (0.2%)*
BioMarin Pharmaceutical, Inc.
5.500%, 2/15/34§		200,000		194,762

*Health Care Equipment & Supplies (0.7%)*
Medline Borrower LP
5.250%, 10/1/29§		232,000		229,490
Neogen Food Safety Corp.
8.625%, 7/20/30§		434,000		452,367

				681,857

*Health Care Providers & Services (2.5%)*
Encompass Health Corp.
5.875%, 6/1/34§		230,000		227,412
HealthEquity, Inc.
4.500%, 10/1/29§		448,000		433,754
Star Parent, Inc.
9.000%, 10/1/30§		398,000		418,019
Surgery Center Holdings, Inc.
7.250%, 4/15/32(x)§		697,000		697,850
US Acute Care Solutions LLC
9.750%, 5/15/29§		772,000		719,242

				2,496,277

*Health Care Technology (1.3%)*
IQVIA, Inc.
5.000%, 5/15/27§		260,000		259,272
5.700%, 5/15/28		400,000		404,706
6.250%, 2/1/29		219,000		224,942
6.250%, 6/1/32§		402,000		406,937

				1,295,857

*Pharmaceuticals (0.2%)*
1261229 BC Ltd.
10.000%, 4/15/32§		200,000		204,250

Total Health Care				4,873,003

Industrials (19.1%)
*Aerospace & Defense (0.8%)*
Goat Holdco LLC
6.750%, 2/1/32§		383,000		388,159
Moog, Inc.
5.500%, 10/15/34§		377,000		365,483

				753,642

*Building Products (1.9%)*
Advanced Drainage Systems, Inc.
6.375%, 6/15/30§		222,000		223,192
Ameritex Holdco Intermediate LLC
7.625%, 8/15/33§		385,000		395,773
EMRLD Borrower LP
6.625%, 12/15/30§		593,000		602,661
New Enterprise Stone & Lime Co., Inc.
5.250%, 7/15/28§		266,000		263,832
Standard Building Solutions, Inc.
5.875%, 3/15/34§		472,000		453,120

				1,938,578

*Commercial Services & Supplies (7.9%)*
ACCO Brands Corp.
4.250%, 3/15/29(x)§		408,000		384,454
ADT Security Corp. (The)
5.875%, 10/15/33§		552,000		534,745
Allied Universal Holdco LLC
6.000%, 6/1/29§		448,000		444,049
6.875%, 6/15/30§		293,000		298,866
7.875%, 2/15/31§		306,000		316,942
APi Group DE, Inc.
5.750%, 6/1/34§		389,000		380,792

See Notes to Portfolio of Investments.

1290 FUNDS

1290 HIGH YIELD BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
Aramark Services, Inc.
5.000%, 2/1/28§	$	1,027,000	$	1,022,173
Clarivate Science Holdings Corp.
4.875%, 7/1/29(x)§		513,000		471,139
Garda World Security Corp.
7.750%, 2/15/28§		170,000		172,222
6.000%, 6/1/29§		409,000		402,153
6.500%, 1/15/31§		178,000		179,462
8.250%, 8/1/32§		402,000		407,568
8.375%, 11/15/32§		553,000		561,140
GFL Environmental, Inc.
4.750%, 6/15/29§		134,000		130,566
Madison IAQ LLC
5.875%, 6/30/29§		358,000		357,810
Raven Acquisition Holdings LLC
6.875%, 11/15/31§		602,000		584,542
Veritiv Operating Co.
10.500%, 11/30/30§		763,000		782,670
Williams Scotsman, Inc.
7.375%, 10/1/31§		391,000		403,133

				7,834,426

*Construction & Engineering (1.5%)*
AECOM
6.000%, 8/1/33§		368,000		365,560
Arcosa, Inc.
6.875%, 8/15/32§		213,000		219,431
Dycom Industries, Inc.
4.500%, 4/15/29§		385,000		373,157
Granite Construction, Inc.
6.375%, 6/15/34§		318,000		318,000
Weekley Homes LLC
4.875%, 9/15/28§		172,000		169,057

				1,445,205

*Electrical Equipment (0.2%)*
EnerSys
6.625%, 1/15/32§		164,000		166,060

*Ground Transportation (3.1%)*
Beacon Mobility Corp.
7.250%, 8/1/30§		515,000		529,729
GB AIT Buyer, Inc.
8.750%, 4/30/34§		287,000		284,848
Genesee & Wyoming, Inc.
6.250%, 4/15/32§		211,000		212,255
NESCO Holdings II, Inc.
5.500%, 4/15/29§		615,000		609,791
Synergy Infrastructure Holdings LLC
7.875%, 12/1/30§		259,000		270,116
7.000%, 7/15/34§		64,000		64,359
Watco Cos. LLC
7.125%, 8/1/32§		719,000		736,695
XPO, Inc.
7.125%, 6/1/31§		336,000		344,323

				3,052,116

*Machinery (1.9%)*
ATS Corp.
4.125%, 12/15/28§		405,000		393,486
Columbus McKinnon Corp.
7.125%, 2/1/33§		359,000		361,692
Enpro, Inc.
6.125%, 6/1/33§		155,000		155,231
Esab Corp.
6.250%, 4/15/29§		186,000		187,841
5.625%, 4/1/31§		123,000		121,522
Lsf12 Helix Parent LLC
7.125%, 2/1/33(x)§		421,000		413,254
Terex Corp.
6.250%, 10/15/32§		241,000		241,496

				1,874,522

*Professional Services (0.5%)*
VT Topco, Inc.
8.500%, 8/15/30(x)§		520,000		530,400

*Trading Companies & Distributors (1.3%)*
Herc Holdings, Inc.
6.000%, 3/15/34(x)§		240,000		235,711
United Rentals North America, Inc.
6.000%, 12/15/29§		252,000		254,513
WESCO Distribution, Inc.
6.375%, 3/15/29§		174,000		176,253
6.625%, 3/15/32§		182,000		185,434
6.375%, 3/15/33§		299,000		303,844
5.500%, 4/15/34§		126,000		122,535

				1,278,290

Total Industrials				18,873,239

Information Technology (9.2%)
*Electronic Equipment, Instruments & Components (0.2%)*
Zebra Technologies Corp.
6.500%, 6/1/32§		162,000		163,311

*IT Services (1.2%)*
Ahead DB Holdings LLC
6.625%, 5/1/28§		199,000		198,001
ION Platform Finance US, Inc.
4.625%, 5/1/28§		200,000		186,687
5.750%, 5/15/28§		412,000		387,927
Unisys Corp.
10.625%, 1/15/31(x)§		410,000		386,425

				1,159,040

*Semiconductors & Semiconductor Equipment (0.5%)*
Amkor Technology, Inc.
5.875%, 10/1/33§		297,000		289,925
Qnity Electronics, Inc.
6.250%, 8/15/33§		230,000		231,155

				521,080

*Software (7.3%)*
AthenaHealth Group, Inc.
6.500%, 2/15/30§		768,000		741,241
Capstone Borrower, Inc.
8.000%, 6/15/30§		652,000		633,255
Cloud Software Group LLC
6.500%, 3/31/29§		163,000		158,925
9.000%, 9/30/29§		797,000		780,064
8.250%, 6/30/32§		348,000		329,263
Ellucian Holdings, Inc.
6.500%, 12/1/29§		400,000		384,340
Gen Digital, Inc.
7.125%, 9/30/30§		251,000		253,811
McAfee Corp.
7.375%, 2/15/30(x)§		684,000		580,764
NCR Voyix Corp.
5.000%, 10/1/28§		375,000		362,816
5.125%, 4/15/29§		221,000		214,103
OAK-Eagle Acquireco, Inc.
7.250%, 7/1/33§		172,000		178,476

See Notes to Portfolio of Investments.

1290 FUNDS

1290 HIGH YIELD BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
Rocket Software, Inc.
9.000%, 11/28/28§	$	272,000	$	268,682
6.500%, 2/15/29(x)§		278,000		255,896
SS&C Technologies, Inc.
5.500%, 9/30/27§		386,000		384,985
6.500%, 6/1/32§		242,000		243,445
UKG, Inc.
6.875%, 2/1/31§		783,000		765,382
ZoomInfo Technologies LLC
3.875%, 2/1/29§		846,000		701,114

				7,236,562

Total Information Technology				9,079,993

Materials (13.0%)
*Chemicals (6.6%)*
Avient Corp.
7.125%, 8/1/30§		454,000		459,416
Axalta Coating Systems Dutch Holding B BV
7.250%, 2/15/31§		150,000		155,082
Axalta Coating Systems LLC
4.750%, 6/15/27§		178,000		177,418
Bond US Bidco 1, Inc.
7.125%, 6/15/33§		400,000		402,372
Celanese US Holdings LLC
6.750%, 4/15/33(x)		422,000		430,769
HB Fuller Co.
4.250%, 10/15/28(x)		326,000		317,941
Illuminate Buyer LLC
9.000%, 7/1/28§		156,000		154,695
INEOS Quattro Finance 2 plc
9.625%, 3/15/29§		600,000		534,000
Maxam Prill Sarl
7.750%, 7/15/30§		400,000		409,740
Minerals Technologies, Inc.
5.000%, 7/1/28(x)§		508,000		501,015
NOVA Chemicals Corp.
8.500%, 11/15/28§		375,000		386,171
9.000%, 2/15/30§		100,000		104,619
Nufarm Australia Ltd.
5.000%, 1/27/30§		542,000		510,445
Olympus Water US Holding Corp.
4.250%, 10/1/28§		200,000		192,522
7.250%, 6/15/31§		354,000		358,131
7.250%, 2/15/33§		200,000		195,930
Solstice Advanced Materials, Inc.
5.625%, 9/30/33§		168,000		164,197
Stonepeak Motion Holdco Ltd.
6.125%, 7/15/33§		200,000		198,578
WR Grace Holdings LLC
5.625%, 8/15/29§		834,000		765,195
7.000%, 8/1/33§		82,000		78,242

				6,496,478

*Containers & Packaging (4.5%)*
Ardagh Metal Packaging Finance USA LLC
4.000%, 9/1/29§		400,000		379,654
6.250%, 1/30/31§		216,000		216,801
Clydesdale Acquisition Holdings, Inc.
8.750%, 4/15/30§		755,000		721,735
6.750%, 4/15/32§		166,000		157,509
Graphic Packaging International LLC
6.375%, 7/15/32(x)§		156,000		155,743
Mauser Packaging Solutions Holding Co.
7.875%, 4/15/30§		370,000		376,974
9.250%, 4/15/30§		948,000		939,089
Owens-Brockway Glass Container, Inc.
7.250%, 5/15/31(x)§		338,000		320,677
9.500%, 6/1/33(x)§		289,000		284,304
Toucan FinCo Ltd.
9.500%, 5/15/30(x)§		322,000		290,605
Trivium Packaging Finance BV
8.250%, 7/15/30(x)§		200,000		210,894
12.250%, 1/15/31§		400,000		442,368

				4,496,353

*Metals & Mining (1.2%)*
Commercial Metals Co.
6.000%, 12/15/35§		287,000		281,883
Kaiser Aluminum Corp.
4.500%, 6/1/31§		370,000		349,239
Novelis Corp.
6.875%, 1/30/30§		218,000		223,450
6.375%, 8/15/33§		319,000		317,839

				1,172,411

*Paper & Forest Products (0.7%)*
Magnera Corp.
7.250%, 11/15/31(x)§		712,000		696,870

Total Materials				12,862,112

Real Estate (2.0%)
*Diversified REITs (0.2%)*
VICI Properties LP (REIT)
4.250%, 12/1/26§		204,000		203,715

*Hotel & Resort REITs (0.4%)*
Park Intermediate Holdings LLC (REIT)
5.875%, 10/1/28§		254,000		253,164
Pebblebrook Hotel LP (REIT)
6.375%, 10/15/29§		198,000		199,390

				452,554

*Real Estate Management & Development (0.4%)*
Cushman & Wakefield US Borrower LLC
6.750%, 5/15/28§		102,000		102,049
Greystar Real Estate Partners LLC
7.750%, 9/1/30§		250,000		258,628

				360,677

*Specialized REITs (1.0%)*
Iron Mountain, Inc. (REIT)
5.250%, 3/15/28§		252,000		250,786
5.000%, 7/15/28§		336,000		331,830
6.250%, 1/15/35§		318,000		313,727

See Notes to Portfolio of Investments.

1290 FUNDS

1290 HIGH YIELD BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
	Principal Amount		Value (Note 1)
SBA Communications Corp. (REIT)
3.875%, 2/15/27	$	76,000	$	75,395

				971,738

Total Real Estate				1,988,684

Total Corporate Bonds				92,284,408

Total Long-Term Debt Securities (93.2%) (Cost $93,147,819)				92,284,408


	Number of Shares
	Number of Shares
SHORT-TERM INVESTMENTS:
Investment Companies (12.0%)
Blackrock Liquidity Fedfund, Institutional Shares 3.56% (7 day yield) (xx)		900,000		900,000
Dreyfus Treasury Obligations Cash Management Fund 3.55% (7 day yield) (xx)		1,600,000		1,600,000
Invesco Government & Agency Portfolio, Institutional Shares 3.65% (7 day yield) (xx)		5,272,405		5,272,405
JPMorgan Prime Money Market Fund, IM Shares 3.84% (7 day yield)		4,039,015		4,039,419
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 3.57% (7 day yield) (xx)		100,000		100,000

Total Investment Companies				11,911,824

Total Short-Term Investments (12.0%) (Cost $11,911,667)				11,911,824

Total Investments in Securities (105.2%) (Cost $105,059,486)				104,196,232
Other Assets Less Liabilities (-5.2%)				(5,178,974	)

Net Assets (100%)			$	99,017,258

§	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At July 31, 2026, the market value of these securities amounted to $88,883,966 or 89.8% of net assets.

(x)

All or a portion of security is on loan at July 31, 2026.

(xx)

At July 31, 2026, the Fund had loaned securities with a total value of $7,725,998. This was collateralized by $45,990 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.250%, maturing 11/30/26 – 8/15/53 and by cash of $7,872,405 which was subsequently invested in investment companies.

Glossary:

PIK — Payment-in Kind Security

REIT — Real Estate Investment Trust

See Notes to Portfolio of Investments.

1290 FUNDS

1290 HIGH YIELD BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities		Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)		Total
Assets:
Corporate Bonds
Communication Services	$	—	$	8,264,521	$	—	$	8,264,521
Consumer Discretionary		—		15,974,809		—		15,974,809
Consumer Staples		—		5,531,567		—		5,531,567
Energy		—		8,578,178		—		8,578,178
Financials		—		6,258,302		—		6,258,302
Health Care		—		4,873,003		—		4,873,003
Industrials		—		18,873,239		—		18,873,239
Information Technology		—		9,079,993		—		9,079,993
Materials		—		12,862,112		—		12,862,112
Real Estate		—		1,988,684		—		1,988,684
Short-Term Investments
Investment Companies		11,911,824		—		—		11,911,824

Total Assets	$	11,911,824	$	92,284,408	$	—	$	104,196,232

Total	$	11,911,824	$	92,284,408	$	—	$	104,196,232


Aggregate gross unrealized appreciation	$	722,538
Aggregate gross unrealized depreciation		(1,978,814	)

Net unrealized depreciation	$	(1,256,276	)

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	105,452,508

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
LONG-TERM DEBT SECURITIES:
Asset-Backed Securities (0.6%)
RFS Asset Securitization V LLC,
Series 2025-1 B
6.195%, 5/15/32§	$	295,000	$	295,022
Sound Point CLO XXVII Ltd.,
Series 2020-2A AR
5.252%, 10/25/34(l)§		340,000		340,446

Total Asset-Backed Securities				635,468

Convertible Bonds (0.7%)
Energy (0.1%)
*Oil, Gas & Consumable Fuels (0.1%)*
Scorpio Tankers, Inc.
1.750%, 4/15/31§		65,000		68,698

Total Energy				68,698

Financials (0.1%)
*Capital Markets (0.1%)*
WisdomTree, Inc.
4.500%, 10/1/31§		63,000		76,514

Total Financials				76,514

Health Care (0.3%)
*Biotechnology (0.2%)*
Cytokinetics, Inc.
1.750%, 10/1/31§		55,000		76,553
Revolution Medicines, Inc.
0.500%, 5/1/33		65,000		80,600
Travere Therapeutics, Inc.
0.500%, 5/15/32		68,000		79,329

				236,482

*Health Care Providers & Services (0.1%)*
Guardant Health, Inc.
1.250%, 2/15/31		27,000		72,692

Total Health Care				309,174

Industrials (0.1%)
*Electrical Equipment (0.1%)*
Stem, Inc.
0.500%, 12/1/28§		245,000		80,850

*Ground Transportation (0.0%)†*
Knight-Swift Transportation Holdings, Inc.
1.000%, 11/15/31§		68,000		74,086

Total Industrials				154,936

Information Technology (0.1%)
*Software (0.1%)*
Datadog, Inc.
(Zero Coupon), 12/1/29		55,000		79,970

Total Information Technology				79,970

Utilities (0.0%)†
*Electric Utilities (0.0%)†*
Evergy, Inc.
4.500%, 12/15/27		49,000		66,630

Total Utilities				66,630

Total Convertible Bonds				755,922

Corporate Bonds (37.5%)
Communication Services (2.8%)
*Diversified Telecommunication Services (0.9%)*
Connect Holding II LLC
10.500%, 4/3/31§		25,000		24,471
HUT 8 DC LLC
6.192%, 11/15/42§		130,000		126,042
Telecom Italia Capital SA
7.721%, 6/4/38		119,000		133,168
Verizon Communications, Inc.
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.81%), 6.050%, 5/14/58(k)		416,000		409,186
WULF Compute LLC
7.750%, 10/15/30§		195,000		202,557

				895,424

*Interactive Media & Services (0.0%)†*
ZipRecruiter, Inc.
5.000%, 1/15/30§		65,000		50,781

*Media (1.2%)*
Advantage Sales & Marketing, Inc.
9.000%, 11/15/30§		54,881		48,201
AMC Global Media, Inc.
10.500%, 7/15/32§		108,000		111,037
Directv Financing LLC
8.875%, 2/1/30§		110,000		111,547
Discovery Global Holdings, Inc.
4.279%, 3/15/32		204,000		180,540
Dotdash Meredith, Inc.
7.625%, 6/15/32§		91,000		85,654
iHeartCommunications, Inc.
9.125%, 5/1/29§		38,000		35,369
7.750%, 8/15/30§		96,103		84,205
McGraw-Hill Education, Inc.
8.000%, 8/1/29§		133,000		131,836
Sirius XM Radio LLC
5.875%, 4/15/32(x)§		385,000		377,878
Versant Media Group, Inc.
7.250%, 1/30/31§		20,000		20,596

				1,186,863

*Wireless Telecommunication Services (0.7%)*
Millicom International Cellular SA
4.500%, 4/27/31(m)		245,000		225,725
SES AMERICOM, Inc.
5.300%, 3/25/44§		97,000		73,505
T-Mobile USA, Inc.
5.150%, 4/15/34		155,000		151,211
Vmed O2 UK Financing I plc
4.250%, 1/31/31§		292,000		233,746

				684,187

Total Communication Services				2,817,255

Consumer Discretionary (2.2%)
*Automobile Components (0.6%)*
American Axle & Manufacturing, Inc.
7.750%, 10/15/33§		150,000		147,725

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
Clarios Global LP
6.750%, 9/15/32§	$	48,000	$	48,542
Cooper-Standard Automotive, Inc.
9.250%, 3/1/31§		162,000		165,366
Garrett Motion Holdings, Inc.
7.750%, 5/31/32§		106,000		109,994
Magna International, Inc.
5.875%, 6/1/35		70,000		71,400

				543,027

*Broadline Retail (0.5%)*
Kohl’s Corp.
5.550%, 7/17/45		98,000		66,839
Macy’s Retail Holdings LLC
4.500%, 12/15/34		85,000		75,787
Match Group Holdings II LLC
6.125%, 9/15/33§		90,000		87,750
Nordstrom, Inc.
5.000%, 1/15/44		87,000		62,522
Rakuten Group, Inc.
9.750%, 4/15/29§		200,000		217,154

				510,052

*Hotels, Restaurants & Leisure (0.7%)*
Hilton Domestic Operating Co., Inc.
5.875%, 4/1/29§		212,000		213,325
Hilton Grand Vacations Borrower LLC
4.875%, 7/1/31§		56,000		51,680
Hyatt Hotels Corp.
5.750%, 3/30/32		70,000		71,023
Royal Caribbean Cruises Ltd.
5.250%, 2/27/38		202,000		188,883
Sabre GLBL, Inc.
11.125%, 7/15/30§		105,000		101,062
VOC Escrow Ltd.
5.000%, 2/15/28§		52,000		51,835

				677,808

*Household Durables (0.3%)*
Newell Brands, Inc.
7.500%, 4/1/46(e)(x)		222,000		205,905
Toll Brothers Finance Corp.
5.600%, 6/15/35		130,000		129,293

				335,198

*Textiles, Apparel & Luxury Goods (0.1%)*
Under Armour, Inc.
7.250%, 7/15/30§		119,000		121,231

Total Consumer Discretionary				2,187,316

Consumer Staples (0.2%)
*Food Products (0.2%)*
B&G Foods, Inc.
8.000%, 9/15/28§		160,000		156,400
JBS NV
5.950%, 4/20/35		75,000		75,826

Total Consumer Staples				232,226

Energy (6.2%)
*Energy Equipment & Services (1.1%)*
Bristow Group, Inc.
6.750%, 2/1/33§		162,000		161,950
Enerflex, Inc.
6.875%, 1/15/31§		187,000		189,586
Nabors Industries, Inc.
7.625%, 11/15/32§		194,000		197,729
Noble Finance II LLC
8.000%, 4/15/30§		199,000		205,091
Tidewater, Inc.
9.125%, 7/15/30(x)§		173,000		184,776
Weatherford International Ltd.
6.750%, 10/15/33§		141,000		142,464

				1,081,596

*Oil, Gas & Consumable Fuels (5.1%)*
Antero Midstream Partners LP
5.750%, 10/15/33§		136,000		133,434
Boardwalk Pipelines LP
5.375%, 2/15/36		164,000		159,378
California Resources Corp.
7.000%, 1/15/34§		144,000		140,914
Chord Energy Corp.
6.000%, 10/1/30§		40,000		40,063
Crescent Energy Finance LLC
7.875%, 4/15/32§		267,000		271,790
CVR Energy, Inc.
7.875%, 2/15/34§		143,000		145,324
Delek Logistics Partners LP
8.625%, 3/15/29§		62,000		64,217
7.375%, 6/30/33§		75,000		76,659
DT Midstream, Inc.
4.375%, 6/15/31§		58,000		55,344
Energy Transfer LP
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.48%), 6.750%, 2/15/56(k)		430,000		430,568
Excelerate Energy LP
8.000%, 5/15/30§		222,000		232,119
Exxon Mobil Corp.
3.095%, 8/16/49		225,000		143,711
Florida Gas Transmission Co. LLC
5.750%, 7/15/35§		100,000		100,532
FS Luxembourg Sarl
8.125%, 2/11/36§		472,000		427,750
Hess Midstream Operations LP
4.250%, 2/15/30§		300,000		286,953
NGL Energy Operating LLC
8.125%, 2/15/29§		114,000		116,850
8.375%, 2/15/32§		23,000		23,858
Par Petroleum LLC
7.375%, 6/1/34§		149,000		154,029
PBF Holding Co. LLC
7.875%, 9/15/30§		139,000		144,224
7.250%, 6/1/34§		69,000		69,928
Petrobras Global Finance BV
6.250%, 1/10/36(x)		435,000		424,691

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
Saudi Arabian Oil Co.
5.750%, 7/17/54§	$	275,000	$	245,729
SM Energy Co.
9.625%, 6/15/33§		315,000		346,500
Sunoco LP
6.625%, 8/15/32§		231,000		233,356
Talos Production, Inc.
9.375%, 2/1/31§		100,000		105,186
TransMontaigne Partners LLC
8.500%, 6/15/30§		69,000		70,223
Vermilion Energy, Inc.
7.250%, 2/15/33§		145,000		143,273
W&T Offshore, Inc.
10.750%, 2/1/29§		106,000		109,397
Western Midstream Operating LP
6.150%, 4/1/33		20,000		20,517
5.500%, 12/15/35		43,000		41,673
Williams Cos., Inc. (The)
5.150%, 3/15/36		145,000		138,916

				5,097,106

Total Energy				6,178,702

Financials (12.7%)
*Banks (6.1%)*
Banco Bilbao Vizcaya Argentaria SA
5.381%, 3/13/29		200,000		202,589
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.99%), 7.125%, 5/8/33(k)(y)		200,000		199,434
Banco Mercantil del Norte SA
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.73%), 8.000%, 1/24/33(k)(y)§		503,000		500,611
Banco Santander SA
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.91%), 8.000%, 2/1/34(k)(y)		200,000		212,506
5.127%, 11/6/35		200,000		191,715
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.84%), 7.250%, 12/3/35(k)(y)		200,000		200,310
Barclays plc
(SOFR + 3.57%), 7.119%, 6/27/34(k)		265,000		284,111
BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.38%), 7.625%, 2/11/35(k)§		200,000		205,000
BNP Paribas SA
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.94%), 4.500%, 2/25/30(k)(y)§		315,000		291,602
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.94%), 7.200%, 4/17/36(k)(y)§		475,000		469,889
CaixaBank SA
(SOFR + 1.53%), 5.402%, 4/22/37(k)(x)§		260,000		251,190
Citigroup, Inc.
(SOFR + 1.49%), 5.174%, 9/11/36(k)(x)		130,000		126,220
HSBC Holdings plc
Series 1
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.51%), 6.750%, 11/18/32(k)(y)		487,000		483,194
Intesa Sanpaolo SpA
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.90%), 7.778%, 6/20/54(k)§		265,000		297,371
Lloyds Banking Group plc
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 6.068%, 6/13/36(k)		245,000		246,503
NatWest Group plc
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.75%), 8.125%, 11/10/33(k)(y)		200,000		217,000
Nordea Bank Abp
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.750%, 11/10/33(k)(y)§		395,000		393,519
Societe Generale SA
(SOFR + 1.51%), 5.400%, 8/8/34(k)§		221,000		215,558
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.95%), 7.132%, 1/19/55(k)§		200,000		197,360
Standard Chartered plc
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.87%), 7.000%, 11/14/35(k)(y)§		461,000		457,460
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 5.400%, 8/12/36(k)§		200,000		194,952

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
UniCredit SpA
(USD ICE Swap Rate 5 Year + 4.91%), 7.296%, 4/2/34(k)§	$	240,000	$	250,514

				6,088,608

*Capital Markets (4.5%)*
Antares Holdings LP
6.350%, 10/23/29§		250,000		248,930
Apollo Debt Solutions BDC
5.700%, 1/23/31§		122,000		118,352
Ares Capital Corp.
5.250%, 4/12/31		155,000		149,448
Aretec Group, Inc.
7.500%, 4/1/29§		108,000		107,325
Banco Nacional de Mexico SA
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 6.697%, 8/7/36(k)§		478,000		472,742
Compass Group Diversified Holdings LLC
5.250%, 4/15/29§		90,000		85,371
Deutsche Bank AG
(SOFR + 3.65%), 7.079%, 2/10/34(k)		200,000		212,205
Series USTR
(USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 4.36%), 8.130%, 4/30/30(k)(m)(y)		200,000		209,846
Goldman Sachs Group, Inc. (The)
(SOFR + 1.19%), 5.065%, 1/21/37(k)		136,000		129,247
Series AA
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.18%), 6.500%, 8/10/31(k)(y)		498,000		494,265
Series X
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.81%), 7.500%, 5/10/29(k)(y)		300,000		310,050
HPS Corporate Lending Fund
6.300%, 8/19/31§		369,000		363,697
Jane Street Group
6.750%, 5/1/33§		321,000		327,019
LPL Holdings, Inc.
5.150%, 6/15/30		225,000		223,843
Morgan Stanley
(SOFR + 1.56%), 5.320%, 7/19/35(k)		160,000		157,421
Morgan Stanley Direct Lending Fund
6.100%, 7/15/31		168,000		163,229
Osaic Holdings, Inc.
8.000%, 8/1/33§		107,000		108,372
Stonex Escrow Issuer LLC
6.875%, 7/15/32§		223,000		226,111
UBS Group AG
(ICE IBA - USD SOFR
ICE Swap Rate 5 Year + 3.30%), 7.000%, 2/5/35(k)(y)§		200,000		197,741
(ICE IBA - USD SOFR ICE Swap Rate 5 Year + 3.32%), 7.000%, 1/8/36(k)(y)§		225,000		223,313
VFH Parent LLC
7.500%, 6/15/31§		22,000		22,741

				4,551,268

*Consumer Finance (1.2%)*
Atlanticus Holdings Corp.
9.750%, 9/1/30§		120,000		121,159
Cobra AcquisitionCo LLC
6.375%, 11/1/29§		78,000		66,885
Enova International, Inc.
11.250%, 12/15/28§		88,000		92,168
EZCORP, Inc.
7.375%, 4/1/32§		184,000		191,724
PRA Group, Inc.
8.875%, 1/31/30§		196,000		201,449
Stellantis Financial Services US Corp.
4.950%, 9/15/28§		200,000		198,355
Synchrony Financial
(United States SOFR Compounded Index + 2.13%), 5.935%, 8/2/30(k)		65,000		65,888
(SOFR + 1.68%), 5.450%, 3/6/31(k)		65,000		64,604
(SOFR + 1.53%), 4.947%, 2/25/32(k)		48,000		46,363
7.250%, 2/2/33		122,000		125,161

				1,173,756

*Financial Services (0.3%)*
Apollo Global Management, Inc.
5.150%, 8/12/35		87,000		82,874
Champions Financing, Inc.
8.750%, 2/15/29(x)§		96,000		94,800
Planet Financial Group LLC
10.500%, 12/15/29§		92,000		89,576

				267,250

*Insurance (0.5%)*
APH Somerset Investor 2 LLC
7.875%, 11/1/29§		180,000		182,192
Nassau Cos. of New York (The)
7.875%, 7/15/30§		139,000		130,278
Prudential Financial, Inc.
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.78%), 6.250%, 6/15/56(k)		188,000		186,178

				498,648

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
*Mortgage Real Estate Investment Trusts (REITs) (0.1%)*
Blackstone Mortgage Trust, Inc. (REIT)
7.750%, 12/1/29§	$	91,000	$	93,664

Total Financials				12,673,194

Health Care (0.8%)
*Biotechnology (0.3%)*
Biogen, Inc.
5.050%, 1/15/31		95,000		95,266
Genmab A/S
6.250%, 12/15/32§		203,000		204,829

				300,095

*Health Care Providers & Services (0.1%)*
MPH Acquisition Holdings LLC
5.750%, 12/31/30§		81,000		62,469

*Pharmaceuticals (0.4%)*
Amneal Pharmaceuticals LLC
6.875%, 8/1/32§		31,000		31,788
HLF Financing Sarl LLC
4.875%, 6/1/29§		183,000		169,961
Jazz Securities DAC
4.375%, 1/15/29§		233,000		227,869

				429,618

Total Health Care				792,182

Industrials (4.2%)
*Aerospace & Defense (0.6%)*
AAR Escrow Issuer LLC
6.750%, 3/15/29§		215,000		218,947
ATI, Inc.
7.250%, 8/15/30		22,000		22,629
5.125%, 10/1/31		18,000		17,546
Boeing Co. (The)
6.388%, 5/1/31		25,000		26,271
Bombardier, Inc.
8.750%, 11/15/30§		14,000		14,726
7.450%, 5/1/34§		200,000		218,642
Carpenter Technology Corp.
5.625%, 3/1/34§		20,000		19,704
General Dynamics Corp.
4.950%, 8/15/35		55,000		53,851

				592,316

*Air Freight & Logistics (0.1%)*
Rand Parent LLC
8.500%, 2/15/30§		25,000		25,585
Stonepeak Nile Parent LLC
7.250%, 3/15/32§		36,000		36,998
United Parcel Service, Inc.
5.250%, 5/14/35(x)		60,000		59,982

				122,565

*Commercial Services & Supplies (0.4%)*
Deluxe Corp.
8.000%, 6/1/29§		237,000		239,000
Pitney Bowes, Inc.
7.250%, 3/15/29§		99,000		99,493
Republic Services, Inc.
5.000%, 4/1/34		50,000		49,207
Rollins, Inc.
5.250%, 2/24/35		35,000		34,122

				421,822

*Construction & Engineering (0.1%)*
Brundage-Bone Concrete Pumping Holdings, Inc.
7.500%, 2/1/32§		91,000		93,284

*Electrical Equipment (0.2%)*
EnerSys
4.375%, 12/15/27§		183,000		180,818

*Ground Transportation (1.0%)*
Avis Budget Car Rental LLC
5.375%, 3/1/29§		91,000		88,498
8.375%, 6/15/32(x)§		101,000		100,495
Carriage Purchaser, Inc.
7.875%, 10/15/29§		53,000		52,427
Clue Opco LLC
9.500%, 10/15/31§		211,000		207,225
Dcli Bidco LLC
7.750%, 11/15/29§		98,000		100,542
GB AIT Buyer, Inc.
8.750%, 4/30/34§		54,000		53,595
PODS LLC
8.750%, 5/15/31§		151,000		143,827
RXO, Inc.
6.375%, 5/15/31§		153,000		152,618
Star Leasing Co. LLC
7.625%, 2/15/30§		88,000		85,613

				984,840

*Machinery (0.6%)*
Deere & Co.
5.700%, 1/19/55		85,000		82,633
Enpro, Inc.
6.125%, 6/1/33§		55,000		55,082
Manitowoc Co., Inc. (The)
9.250%, 10/1/31§		87,000		91,909
Mueller Water Products, Inc.
4.000%, 6/15/29§		186,000		178,136
Park-Ohio Industries, Inc.
8.500%, 8/1/30§		178,000		186,037
Wabash National Corp.
4.500%, 10/15/28(x)§		57,000		53,074

				646,871

*Marine Transportation (0.2%)*
Danaos Corp.
6.875%, 10/15/32§		208,000		212,501

*Passenger Airlines (0.5%)*
Allegiant Travel Co.
7.125%, 7/1/31(x)§		195,000		197,572
Delta Air Lines, Inc.
5.250%, 7/10/30		55,000		55,234
JetBlue Airways Corp.
9.875%, 9/20/31§		137,000		119,190
VistaJet Malta Finance plc
8.750%, 1/15/32(x)§		111,000		109,057

				481,053

*Professional Services (0.1%)*
AMN Healthcare, Inc.
6.500%, 1/15/31§		100,000		99,875

*Trading Companies & Distributors (0.1%)*
Alta Equipment Group, Inc.
9.000%, 6/1/29(x)§		113,000		107,821

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
*Transportation Infrastructure (0.3%)*
Sydney Airport Finance Co. Pty. Ltd.
5.248%, 3/26/36§	$	269,000	$	260,381

Total Industrials				4,204,147

Information Technology (3.4%)
*Communications Equipment (0.6%)*
Ciena Corp.
4.000%, 1/31/30§		255,000		241,641
Viasat, Inc.
6.500%, 7/15/28§		84,000		83,247
7.500%, 5/30/31§		61,000		61,047
Viavi Solutions, Inc.
3.750%, 10/1/29(x)§		188,000		176,998

				562,933

*Electronic Equipment, Instruments & Components (0.2%)*
Jabil, Inc.
5.450%, 2/1/29		25,000		25,206
TTM Technologies, Inc.
4.000%, 3/1/29§		127,000		121,409

				146,615

*IT Services (1.0%)*
CoreWeave, Inc.
9.250%, 6/1/30(x)§		188,000		175,310
9.000%, 2/1/31(x)§		60,000		54,138
ION Platform Finance US, Inc.
9.000%, 8/1/29§		156,000		144,975
Newfold Digital Holdings Group, Inc.
11.750%, 4/30/29§		70,000		60,376
Sopaipilla Investor LLC
7.534%, 11/30/48(e)§		194,000		200,023
Twilio, Inc.
3.875%, 3/15/31(x)		213,000		198,361
Unisys Corp.
10.625%, 1/15/31§		133,000		125,353
Virtusa Corp.
7.125%, 12/15/28§		89,000		72,757

				1,031,293

*Semiconductors & Semiconductor Equipment (0.6%)*
Intel Corp.
5.300%, 5/15/36		40,000		38,409
NVIDIA Corp.
4.950%, 6/15/36		205,000		195,539
5.625%, 6/15/56		431,000		388,843

				622,791

*Software (0.5%)*
Open Text Holdings, Inc.
4.125%, 2/15/30§		164,000		151,572
Oracle Corp.
5.700%, 2/4/36		71,000		65,401
6.700%, 2/4/56		190,000		166,733
Roper Technologies, Inc.
4.250%, 9/15/28		65,000		64,251
Synopsys, Inc.
5.150%, 4/1/35		50,000		48,325

				496,282

*Technology Hardware, Storage & Peripherals (0.5%)*
Dell International LLC
5.750%, 2/1/33		155,000		157,665
NetApp, Inc.
5.700%, 3/17/35		55,000		55,170
Seagate Data Storage Technology Pte. Ltd.
5.875%, 7/15/30		165,000		167,900
9.625%, 12/1/32		78,000		85,663
5.750%, 12/1/34		19,000		18,802

				485,200

Total Information Technology				3,345,114

Materials (2.1%)
*Chemicals (0.5%)*
Celanese US Holdings LLC
7.379%, 7/15/32(e)		79,000		82,638
Chemours Co. (The)
8.000%, 1/15/33§		150,000		147,660
Rain Carbon, Inc.
12.250%, 9/1/29§		65,000		68,942
SK Invictus Intermediate II Sarl
5.000%, 10/30/29§		97,000		94,360
Westlake Corp.
5.550%, 11/15/35		107,000		103,356

				496,956

*Containers & Packaging (0.2%)*
TriMas Corp.
4.125%, 4/15/29§		179,000		170,734

*Metals & Mining (1.4%)*
Alcoa Nederland Holding BV
7.125%, 3/15/31§		269,000		276,088
Champion Iron Canada, Inc.
7.875%, 7/15/32§		39,000		39,911
Compass Minerals International, Inc.
8.000%, 7/1/30§		99,000		103,394
Corp. Nacional del Cobre de Chile
5.529%, 1/30/37§		318,000		305,821
Fortescue Treasury Pty. Ltd.
5.875%, 4/15/30§		263,000		263,465
Mineral Resources Ltd.
9.250%, 10/1/28§		130,000		133,661
Novelis Corp.
4.750%, 1/30/30§		144,000		138,193
Rio Tinto Finance USA plc
5.250%, 3/14/35		115,000		113,872
SunCoke Energy, Inc.
4.875%, 6/30/29§		91,000		86,832

				1,461,237

Total Materials				2,128,927

Real Estate (0.7%)
*Health Care REITs (0.3%)*
Diversified Healthcare Trust (REIT)
4.750%, 2/15/28		40,000		39,182
7.250%, 10/15/30§		36,000		36,874
4.375%, 3/1/31(x)		127,000		116,014
MPT Operating Partnership LP (REIT)
3.500%, 3/15/31		151,000		102,680

				294,750

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Principal Amount		Value (Note 1)
*Office REITs (0.1%)*
Hudson Pacific Properties LP (REIT)
3.250%, 1/15/30(x)	$	130,000	$	113,750

*Real Estate Management & Development (0.3%)*
Anywhere Real Estate Group LLC
9.750%, 4/15/30§		276,000		295,348

Total Real Estate				703,848

Utilities (2.2%)
*Electric Utilities (1.4%)*
American Electric Power Co., Inc.
Series C
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.13%), 5.800%, 3/15/56(k)		372,000		365,490
DTE Electric Co.
5.250%, 5/15/35		85,000		83,751
Edison International
6.250%, 3/15/30		10,000		10,212
Leeward Renewable Energy Operations LLC
4.250%, 7/1/29§		151,000		142,811
Long Ridge Energy LLC
8.750%, 2/15/32§		101,000		104,409
Pacific Gas and Electric Co.
5.700%, 3/1/35		145,000		143,513
PPL Capital Funding, Inc.
5.250%, 9/1/34		40,000		39,345
Southwestern Public Service Co.
6.000%, 6/1/54		130,000		124,848
Vistra Operations Co. LLC
5.550%, 4/30/36§		156,000		151,581
XPLR Infrastructure Operating Partners LP
8.375%, 1/15/31§		199,000		211,189
7.750%, 4/15/34(x)§		27,000		28,198

				1,405,347

*Independent Power and Renewable Electricity Producers (0.1%)*
TransAlta Corp.
6.500%, 3/15/40(x)		103,000		98,881

*Multi-Utilities (0.7%)*
Dominion Energy, Inc.
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.70%), 6.250%, 12/15/56(k)		308,000		303,380
Series A
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.39%), 6.875%, 2/1/55(k)		185,000		188,931
Southern Co. Gas Capital Corp.
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.82%), 6.050%, 9/15/56(k)		137,000		135,973

				628,284

Total Utilities				2,132,512

Total Corporate Bonds				37,395,423


	Number of Shares
Equity-Linked Notes (8.2%)
Barclays Bank plc, ELN,
23.100%, 8/25/26,
(linked to S&P 500 Index)§		547		4,094,764
Citigroup Global Markets Holdings, Inc., ELN,
22.450%, 8/25/26,
(linked to S&P 500 Index)§		547		4,092,867

Total Equity-Linked Notes				8,187,631


	Principal Amount
Foreign Government Securities (2.0%)
Federative Republic of Brazil
5.500%, 11/6/30(x)	$	605,000		607,269
6.625%, 3/15/35		380,000		383,731
Oriental Republic of Uruguay
9.750%, 7/20/33	UYU	7,685,000		211,192
Republic of Angola
9.244%, 1/15/31§	$	545,000		570,217
Republic of Turkiye
36.000%, 8/12/26	TRY	8,695,000		182,779

Total Foreign Government Securities				1,955,188

U.S. Government Agency Security (0.3%)
CoBank ACB
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.62%), 6.750%, 7/1/31(k)(y)		265,000		264,337

Total U.S. Government Agency Security				264,337

U.S. Treasury Obligations (4.4%)
U.S. Treasury Bonds
4.750%, 8/15/55		1,676,000		1,542,881
5.000%, 5/15/56		3,023,000		2,899,264

Total U.S. Treasury Obligations				4,442,145

Total Long-Term Debt Securities (53.7%) (Cost $54,025,976)				53,636,114

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
CONVERTIBLE PREFERRED STOCKS:
Communication Services (0.3%)
*Interactive Media & Services (0.3%)*
Alphabet, Inc.,
Series A
6.250%		3,175	$	159,258
Series B
6.250%		3,200		160,640

Total Communication Services				319,898

Information Technology (0.1%)
*Software (0.1%)*
Oracle Corp.,
Series D
6.500%		1,844		77,226

Total Information Technology				77,226

Total Convertible Preferred Stocks (0.4%) (Cost $410,950)				397,124

COMMON STOCKS:
Communication Services (1.6%)
*Diversified Telecommunication Services (0.4%)*
AT&T, Inc.		2,193		50,987
Magyar Telekom Telecommunications plc		1,165		10,111
NTT, Inc.		42,900		41,092
Verizon Communications, Inc.		6,979		326,687

				428,877

*Entertainment (0.1%)*
Netflix, Inc.(s)*		721		51,703
Walt Disney Co. (The)		119		11,447

				63,150

*Interactive Media & Services (1.1%)*
Alphabet, Inc., Class A(s)		1,126		401,002
Alphabet, Inc., Class C(s)		1,317		469,708
Meta Platforms, Inc., Class A(s)		412		229,365

				1,100,075

*Media (0.0%)†*
Versant Media Group, Inc.		2		72

Total Communication Services				1,592,174

Consumer Discretionary (2.9%)
*Automobile Components (0.2%)*
Bridgestone Corp.		6,000		149,524
SL Corp.		131		4,861

				154,385

*Automobiles (0.4%)*
Dr Ing hc F Porsche AG (Preference)(m)(q)(x)		1,107		54,176
Tesla, Inc.(s)*		499		155,294
Toyota Motor Corp.		11,100		213,970

				423,440

*Broadline Retail (0.6%)*
Amazon.com, Inc.(s)*		1,746		474,179
Hyundai Department Store Co. Ltd.		22		1,833
Pepco Group NV(m)		1,103		13,576
Wesfarmers Ltd.		2,159		135,754

				625,342

*Hotels, Restaurants & Leisure (0.7%)*
Booking Holdings, Inc.(s)		127		24,498
Compass Group plc		2,540		80,544
McDonald’s Corp.		809		218,948
Royal Caribbean Cruises Ltd.		437		139,097
Starbucks Corp.		1,679		176,715
Yum! Brands, Inc.		190		29,123

				668,925

*Household Durables (0.0%)†*
Cury Construtora e Incorporadora SA		1,473		8,718
PulteGroup, Inc.		181		22,891
TCL Electronics Holdings Ltd.		3,609		7,441

				39,050

*Specialty Retail (0.8%)*
AutoZone, Inc.*		12		36,195
Best Buy Co., Inc.		693		59,778
Cartrade Tech Ltd.*		218		6,214
Dogan Sirketler Grubu Holding A/S		20,845		9,177
Home Depot, Inc. (The)(s)		1,177		390,717
Industria de Diseno Textil SA		1,556		101,270
Lowe’s Cos., Inc.		495		102,866
O’Reilly Automotive, Inc.*		388		34,668
TJX Cos., Inc. (The)		360		56,642

				797,527

*Textiles, Apparel & Luxury Goods (0.2%)*
Alpargatas SA (Preference)(q)		4,476		10,790
LVMH Moet Hennessy Louis Vuitton SE		184		100,817
NIKE, Inc., Class B		1,103		46,006

				157,613

Total Consumer Discretionary				2,866,282

Consumer Staples (3.2%)
*Beverages (0.6%)*
Coca-Cola Co. (The)		5,048		442,154
Osotspa PCL		19,300		10,172
PepsiCo, Inc.		1,515		211,434

				663,760

*Consumer Staples Distribution & Retail (0.3%)*
Costco Wholesale Corp.(s)		99		94,237
Target Corp.		758		109,524
Walmart, Inc.(s)		926		102,971

				306,732

*Food Products (0.6%)*
Archer-Daniels-Midland Co.		1,367		108,362
Avanti Feeds Ltd.		458		4,318
Bunge Global SA		850		90,296
Mondelez International, Inc., Class A		2,177		135,649
Nestle SA (Registered)		2,068		207,222
Thaifoods Group PCL, Class F		38,400		11,327
Tiger Brands Ltd.		469		7,828

				565,002

*Household Products (0.6%)*
Colgate-Palmolive Co.		1,506		137,498

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
Henkel AG & Co. KGaA (Preference)(q)		469	$	40,898
Kimberly-Clark Corp.		233		25,469
Procter & Gamble Co. (The)(s)		2,525		364,837

				568,702

*Personal Care Products (0.2%)*
APR Corp.		26		5,836
L’Oreal SA		276		123,154
Unilever plc		1,108		70,828

				199,818

*Tobacco (0.9%)*
Altria Group, Inc.		2,847		194,535
British American Tobacco plc		2,720		167,531
Japan Tobacco, Inc.(x)		3,100		139,018
Philip Morris International, Inc.		2,212		422,094

				923,178

Total Consumer Staples				3,227,192

Energy (2.8%)
*Energy Equipment & Services (0.3%)*
Halliburton Co.		1,534		49,471
SLB Ltd.		3,208		159,085
Tenaris SA		2,558		73,567

				282,123

*Oil, Gas & Consumable Fuels (2.5%)*
Adaro Andalan Indonesia PT		14,967		7,673
Canadian Natural Resources Ltd.		1,900		90,510
Chevron Corp.		2,345		461,566
ConocoPhillips		2,085		251,201
EOG Resources, Inc.		1,135		168,763
Exxaro Resources Ltd.		433		5,340
ExxonMobil Holdings Corp.(s)*		5,355		832,381
Great Eastern Shipping Co. Ltd. (The)		596		8,435
IRPC PCL		132,900		8,756
Occidental Petroleum Corp.		534		30,475
Repsol SA		1,119		34,040
Shell plc		6,394		291,574
Suncor Energy, Inc.		1,100		73,870
Thai Oil PCL		3,700		7,258
TotalEnergies SE		1,902		167,611
Whitecap Resources, Inc.		3,400		40,116

				2,479,569

Total Energy				2,761,692

Financials (5.2%)
*Banks (1.5%)*
Alior Bank SA		347		12,781
Banco del Bajio SA(m)		3,649		12,125
Bank of America Corp.(s)		1,195		74,030
BNK Financial Group, Inc.		950		10,108
Citigroup, Inc.		477		63,179
Citizens Financial Group, Inc.		1,818		130,260
DBS Group Holdings Ltd.		3,800		219,327
Fifth Third Bancorp		2,254		127,351
Jammu & Kashmir Bank Ltd. (The)		6,788		11,098
JB Financial Group Co. Ltd.		446		8,274
JPMorgan Chase & Co.(s)		484		170,266
Karnataka Bank Ltd. (The)		4,440		13,250
Kiatnakin Phatra Bank PCL		3,300		11,118
Oversea-Chinese Banking Corp. Ltd.		7,100		161,272
PNC Financial Services Group, Inc. (The)		763		190,651
South Indian Bank Ltd. (The)		25,298		12,382
Tisco Financial Group PCL		3,000		11,545
Truist Financial Corp.		604		31,311
US Bancorp		3,093		194,890
Wells Fargo & Co.		615		53,167

				1,518,385

*Capital Markets (1.3%)*
Bank of New York Mellon Corp. (The)		1,244		194,475
BlackRock, Inc.		213		232,253
Blackstone, Inc.		668		85,337
Charles Schwab Corp. (The)		385		40,517
CME Group, Inc.		97		25,976
Goldman Sachs Group, Inc. (The)(s)		86		87,581
Hong Kong Exchanges & Clearing Ltd.		900		46,891
IGM Financial, Inc.		1,100		68,392
Intercontinental Exchange, Inc.		183		27,904
KIWOOM Securities Co. Ltd.		30		6,176
Morgan Stanley		478		100,581
Nippon Life India Asset Management Ltd.(m)		476		5,794
Northern Trust Corp.		483		87,998
S&P Global, Inc.		16		6,591
Samsung Securities Co. Ltd.		107		7,490
Singapore Exchange Ltd.		6,100		116,344
State Street Corp.		827		152,300

				1,292,600

*Consumer Finance (0.1%)*
American Express Co.		135		45,394
Capital One Financial Corp.		75		15,676
Katilimevim Tasarruf Finansman A/S		1,258		4,119
Synchrony Financial		547		41,457

				106,646

*Financial Services (0.5%)*
Banca Mediolanum SpA		3,121		83,388
Berkshire Hathaway, Inc., Class B(s)*		334		170,854
CSSC Hong Kong Shipping Co. Ltd.(m)(x)		18,949		5,316
Mastercard, Inc., Class A(s)		147		84,246
Visa, Inc., Class A(s)		313		114,599

				458,403

*Insurance (1.8%)*
Aflac, Inc.		307		39,136
Ageas SA/NV		622		51,571
Allianz SE (Registered)		487		242,885
AXA SA		3,497		181,223
Chubb Ltd.		167		58,564

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
Generali(x)		1,950	$	98,918
Great-West Lifeco, Inc.		1,100		72,928
Loews Corp.(s)		288		33,411
Manulife Financial Corp.		3,000		133,238
Mapfre SA		5,973		30,540
Marsh & McLennan Cos., Inc.		307		58,235
MetLife, Inc.		1,173		112,760
NN Group NV		1,387		130,513
Power Corp. of Canada		1,100		75,172
Principal Financial Group, Inc.		454		51,620
Progressive Corp. (The)		341		72,094
Sompo Holdings, Inc.		2,300		102,825
Tokio Marine Holdings, Inc.		2,200		112,195
Turkiye Sigorta A/S		70,544		9,338
Zurich Insurance Group AG		157		119,588

				1,786,754

Total Financials				5,162,788

Health Care (5.9%)
*Biotechnology (1.2%)*
AbbVie, Inc.(s)		2,438		611,792
Amgen, Inc.		773		297,728
Gilead Sciences, Inc.		1,842		239,847
Vertex Pharmaceuticals, Inc.*		61		29,103

				1,178,470

*Health Care Equipment & Supplies (0.3%)*
Abbott Laboratories		1,674		176,942
Angelalign Technology, Inc.(m)		939		9,567
Boston Scientific Corp.(s)*		270		12,617
Intuitive Surgical, Inc.*		39		13,780
Medtronic plc		1,170		99,906
Zimmer Biomet Holdings, Inc.		315		29,588

				342,400

*Health Care Providers & Services (1.0%)*
Bradsaude S A		1,551		4,853
Centene Corp.*		515		32,043
Cigna Group (The)		169		47,159
CVS Health Corp.		2,014		210,322
Dr Lal PathLabs Ltd.(m)		613		12,240
Elevance Health, Inc.		308		115,759
McKesson Corp.		53		45,378
UnitedHealth Group, Inc.(s)		1,170		484,848

				952,602

*Life Sciences Tools & Services (0.1%)*
Danaher Corp.		190		37,046
SAI Life Sciences Ltd.(m)*		841		11,592
Thermo Fisher Scientific, Inc.		86		49,390

				98,028

*Pharmaceuticals (3.3%)*
Acutaas Chemicals Ltd.		260		8,461
AstraZeneca plc		1,650		280,909
Bristol-Myers Squibb Co.		3,691		241,059
Eli Lilly & Co.(s)		165		189,559
Granules India Ltd.		1,167		10,086
Johnson & Johnson(s)		3,245		831,856
Merck & Co., Inc.		3,184		414,557
Natco Pharma Ltd.		751		7,218
Novartis AG (Registered)		2,135		334,332
Novo Nordisk A/S, Class B		4,254		201,149
Pfizer, Inc.		8,180		204,582
Roche Holding AG		857		374,835
Royalty Pharma plc, Class A		2,259		131,993
Sanofi SA		478		41,048
Torrent Pharmaceuticals Ltd.		260		13,959
Zoetis, Inc.		146		11,284

				3,296,887

Total Health Care				5,868,387

Industrials (3.6%)
*Aerospace & Defense (0.6%)*
BAE Systems plc		2,078		58,645
GE Aerospace(s)		249		89,657
General Dynamics Corp.		116		44,477
Honeywell Aerospace, Inc.*		345		71,325
Howmet Aerospace, Inc.		103		29,073
Lockheed Martin Corp.		324		188,808
RTX Corp.		344		74,035
Singapore Technologies Engineering Ltd.		5,900		46,374

				602,394

*Air Freight & Logistics (0.3%)*
CH Robinson Worldwide, Inc.		145		21,421
Deutsche Post AG		1,691		112,631
FedEx Corp.		313		96,216
United Parcel Service, Inc., Class B		902		94,006

				324,274

*Building Products (0.1%)*
AGC, Inc.		1,500		57,311
Cie de Saint-Gobain SA		453		42,459
Johnson Controls International plc		183		26,839

				126,609

*Commercial Services & Supplies (0.0%)†*
China Everbright Environment Group Ltd.		5,528		3,595
L&K Engineering Co. Ltd.		339		7,416
Waste Management, Inc.		171		38,740

				49,751

*Construction & Engineering (0.4%)*
Comfort Systems USA, Inc.		18		31,134
CTCI Corp.		7,740		8,442
EMCOR Group, Inc.		34		27,113
Engineers India Ltd.		4,799		11,185
Kajima Corp.		1,400		47,366
Obayashi Corp.		2,700		53,693
Quanta Services, Inc.		54		36,037
Samsung E&A Co. Ltd.		336		10,323
Sunway Construction Group Bhd.		7,000		13,567
Taisei Corp.(x)		700		57,481
United Integrated Services Co. Ltd.		255		8,679
Vinci SA		338		47,766
Yankey Engineering Co. Ltd.*		450		9,050

				361,836

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
*Electrical Equipment (0.1%)*
Chung-Hsin Electric & Machinery Manufacturing Corp.		1,127	$	5,353
Eaton Corp. plc		81		33,631
GE Vernova, Inc.		65		64,369
Generac Holdings, Inc.*		113		22,273
Harbin Electric Co. Ltd., Class H		3,812		7,665
Sanil Electric Co. Ltd.		26		2,612

				135,903

*Ground Transportation (0.4%)*
Norfolk Southern Corp.		330		110,708
Uber Technologies, Inc.*		111		7,810
Union Pacific Corp.		830		242,468

				360,986

*Industrial Conglomerates (0.5%)*
3M Co.		188		33,141
Apar Industries Ltd.*		82		12,331
Honeywell International, Inc.		484		117,636
Hyosung Corp.		61		6,182
Siemens AG (Registered)		882		287,477
Sime Darby Bhd.		21,200		11,206

				467,973

*Machinery (0.7%)*
Caterpillar, Inc.(s)		106		86,370
China Yuchai International Ltd.		131		6,178
Cummins, Inc.		45		28,539
Deere & Co.		78		46,228
Force Motors Ltd.		23		4,315
IDEX Corp.		127		29,267
Illinois Tool Works, Inc.		536		153,805
Kaori Heat Treatment Co. Ltd.		271		7,169
Mega Union Technology, Inc.		441		9,838
PACCAR, Inc.		945		125,383
Sandvik AB		2,590		96,831
Sunonwealth Electric Machine Industry Co. Ltd.		1,804		7,312
Volvo AB, Class B		1,507		57,655

				658,890

*Professional Services (0.3%)*
Automatic Data Processing, Inc.		603		160,676
Mobility Global, Inc.*		16		326
Paychex, Inc.		612		71,506
RELX plc		871		30,603

				263,111

*Trading Companies & Distributors (0.2%)*
Hyundai GF Holdings		561		4,635
ITOCHU Corp.		7,200		91,140
Mitsui & Co. Ltd.		2,300		71,369
United Rentals, Inc.		38		41,012
W.W. Grainger, Inc.		27		37,320

				245,476

Total Industrials				3,597,203

Information Technology (5.6%)
*Communications Equipment (0.3%)*
Arcadyan Technology Corp.		1,804		9,629
Arista Networks, Inc.*		327		58,974
Ciena Corp.*		75		28,279
Cisco Systems, Inc.(s)		835		96,852
Telefonaktiebolaget LM Ericsson, Class B		8,958		88,261

				281,995

*Electronic Equipment, Instruments & Components (0.2%)*
Amphenol Corp., Class A(s)		364		58,495
Chunghwa Precision Test Tech Co. Ltd.		56		4,323
Corning, Inc.		166		22,949
Genius Electronic Optical Co. Ltd.		224		3,334
Jabil, Inc.		36		11,342
Keysight Technologies, Inc.*		88		28,079
Lelon Electronics Corp.		483		3,288
Simplo Technology Co. Ltd.		625		6,817
Taiwan Surface Mounting Technology Corp.		781		3,383
TE Connectivity plc		110		22,626
Tripod Technology Corp.		676		7,718
TXC Corp.		798		3,691
Wah Lee Industrial Corp.		2,716		9,454
WT Microelectronics Co. Ltd.		1,200		7,296

				192,795

*IT Services (0.2%)*
Accenture plc, Class A		343		56,911
International Business Machines Corp.		910		203,521

				260,432

*Semiconductors & Semiconductor Equipment (3.1%)*
ADATA Technology Co. Ltd.		438		5,401
Advanced Micro Devices, Inc.(s)*		333		158,558
AP Memory Technology Corp.		399		8,235
Applied Materials, Inc.(s)		175		88,842
Broadcom, Inc.(s)		896		348,795
DB HiTek Co. Ltd.		52		3,031
Global Mixed Mode Technology, Inc.		1,105		8,411
Grand Process Technology Corp.		96		7,040
Greatek Electronics, Inc.		1,957		6,085
Intel Corp.*		1,034		93,267
KLA Corp.		332		60,696
Lam Research Corp.(s)		299		87,613
Marketech International Corp.		621		8,992
Micron Technology, Inc.		176		144,853
MPI Corp.		61		9,966
Nanya Technology Corp.		774		8,633
NVIDIA Corp.(s)		4,337		870,653
Pixart Imaging, Inc.		1,658		9,850
PSK, Inc.		56		5,091
QUALCOMM, Inc.		1,003		148,053
Sigurd Microelectronics Corp.		1,194		6,890
Sitronix Technology Corp.		1,076		8,873
Taiwan Semiconductor Manufacturing Co. Ltd.		7,000		525,233
Teradyne, Inc.		34		12,501
Texas Instruments, Inc.		1,471		405,613

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
Topco Scientific Co. Ltd.		574	$	8,880
WinWay Technology Co. Ltd.		41		7,377
WONIK IPS Co. Ltd.		131		8,968

				3,066,400

*Software (0.8%)*
Crowdstrike Holdings, Inc., Class A*		318		60,693
Microsoft Corp.(s)		1,355		629,696
Palantir Technologies, Inc., Class A(s)*		215		26,458
Palo Alto Networks, Inc.*		226		74,993
Synopsys, Inc.*		60		23,326

				815,166

*Technology Hardware, Storage & Peripherals (1.0%)*
Apple, Inc.(s)		2,671		825,099
Dell Technologies, Inc., Class C		95		38,510
Hewlett Packard Enterprise Co.		768		36,787
Innodisk Corp.		158		6,331
Sandisk Corp.*		17		20,652
Seagate Technology Holdings plc		26		22,259
Transcend Information, Inc.		1,105		10,018
Western Digital Corp.		39		21,249

				980,905

Total Information Technology				5,597,693

Materials (0.6%)
*Chemicals (0.4%)*
Air Products and Chemicals, Inc.		498		146,855
Albemarle Corp.		90		10,588
Eastman Chemical Co.		437		30,568
Givaudan SA (Registered)		22		87,897
Hansol Chemical Co. Ltd.		42		6,127
Kumho Petrochemical Co. Ltd.		122		9,789
Linde plc		112		53,579
Paradeep Phosphates Ltd.(m)		2,964		4,577
Sinofert Holdings Ltd.		53,080		8,799

				358,779

*Construction Materials (0.1%)*
Holcim AG		1,307		118,567
Titan SA		94		5,647

				124,214

*Containers & Packaging (0.0%)†*
Avery Dennison Corp.		180		30,551

*Metals & Mining (0.1%)*
Barrick Mining Corp.		1,600		58,722
Freeport-McMoRan, Inc.		385		24,113
National Aluminium Co. Ltd.		2,719		9,975
Newmont Corp.		211		19,773
Tung Ho Steel Enterprise Corp.		4,511		10,413
Welspun Corp. Ltd.		626		10,829

				133,825

Total Materials				647,369

Real Estate (1.7%)
*Diversified REITs (0.1%)*
Gladstone Commercial Corp. (REIT)		1,168		14,600
Global Net Lease, Inc. (REIT)		1,630		14,214
Sirius Real Estate Ltd. (REIT)		21,755		29,012
WP Carey, Inc. (REIT)		478		35,181

				93,007

*Health Care REITs (0.2%)*
American Healthcare REIT, Inc. (REIT)		761		42,312
Diversified Healthcare Trust (REIT)		3,716		33,072
Healthpeak Properties, Inc. (REIT)		256		5,589
Omega Healthcare Investors, Inc. (REIT)		786		39,795
Welltower, Inc. (REIT)		510		119,564

				240,332

*Hotel & Resort REITs (0.1%)*
Host Hotels & Resorts, Inc. (REIT)		1,548		38,901
Invincible Investment Corp. (REIT)		28		10,770
Pebblebrook Hotel Trust (REIT)		785		14,994

				64,665

*Industrial REITs (0.2%)*
EastGroup Properties, Inc. (REIT)		186		38,876
First Industrial Realty Trust, Inc. (REIT)		566		37,265
Granite REIT (REIT)		494		33,904
Prologis, Inc. (REIT)		496		71,726

				181,771

*Office REITs (0.0%)†*
Easterly Government Properties, Inc. (REIT), Class A		1,291		31,449
Embassy Office Parks REIT (REIT)		2,278		10,457

				41,906

*Real Estate Management & Development (0.3%)*
Amata Corp. PCL		12,500		10,856
CK Asset Holdings Ltd.		6,100		37,211
Daito Trust Construction Co. Ltd.		1,500		31,762
Huaku Development Co. Ltd.		2,902		8,746
Iguatemi SA		2,091		10,275
JHSF Participacoes SA		4,891		10,729
Leopalace21 Corp.		7,300		31,062
PSP Swiss Property AG (Registered)		158		28,534
St Joe Co. (The)		474		29,502
Sun Hung Kai Properties Ltd.		3,000		47,128
UOL Group Ltd.		5,300		40,914

				286,719

*Residential REITs (0.1%)*
Camden Property Trust (REIT)		272		30,140

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
UMH Properties, Inc. (REIT)		1,471	$	22,227

				52,367

*Retail REITs (0.4%)*
Brixmor Property Group, Inc. (REIT)		1,223		38,537
CBL & Associates Properties, Inc. (REIT)		861		50,549
CT REIT (REIT)		1,100		14,626
Federal Realty Investment Trust (REIT)		277		34,373
InvenTrust Properties Corp. (REIT)		902		31,940
Klepierre SA (REIT)		63		2,858
NETSTREIT Corp. (REIT)(x)		1,472		31,574
NNN REIT, Inc. (REIT)		701		33,312
Phillips Edison & Co., Inc. (REIT)		734		31,188
Regency Centers Corp. (REIT)		421		33,802
Slate Grocery REIT (REIT), Class U		2,698		33,604
SmartCentres REIT (REIT)		1,570		33,094
Tanger, Inc. (REIT)		838		34,073
Urban Edge Properties (REIT)		1,603		36,324

				439,854

*Specialized REITs (0.3%)*
Digital Realty Trust, Inc. (REIT)		246		46,376
EPR Properties (REIT)		565		35,070
Equinix, Inc. (REIT)		98		99,889
Iron Mountain, Inc. (REIT)		313		38,286
Keppel DC REIT (REIT)		15,100		26,257
Millrose Properties, Inc. (REIT)		895		25,042
Outfront Media, Inc. (REIT)		1,204		38,371

				309,291

Total Real Estate				1,709,912

Utilities (1.5%)
*Electric Utilities (1.1%)*
Alliant Energy Corp.		428		30,294
American Electric Power Co., Inc.		1,017		130,023
Constellation Energy Corp.		77		20,232
Duke Energy Corp.		1,445		181,246
Evergy, Inc.		569		47,233
Fortis, Inc.		1,200		68,310
Iberdrola SA		8,392		199,835
NextEra Energy, Inc.		2,812		244,419
NRG Energy, Inc.		144		19,338
Southern Co. (The)		400		37,816
Tauron Polska Energia SA		4,212		10,161
Xcel Energy, Inc.		1,506		117,769

				1,106,676

*Gas Utilities (0.1%)*
Enerya Enerji A/S		11,045		2,140
Snam SpA		6,850		46,510

				48,650

*Independent Power and Renewable Electricity Producers (0.1%)*
AES Corp. (The)		1,631		23,943
Global Power Synergy PCL, Class F		6,400		9,919
Vistra Corp.		138		20,450

				54,312

*Multi-Utilities (0.2%)*
National Grid plc		8,468		135,811
Sempra		1,145		101,390

				237,201

*Water Utilities (0.0%)†*
Cia de Saneamento de Minas Gerais Copasa MG		1,044		13,231
Cia De Saneamento do Parana Sanepar		1,425		10,221

				23,452

Total Utilities				1,470,291

Total Common Stocks (34.6%) (Cost $31,294,504)				34,500,983


	Number of Rights
RIGHTS:
Health Care (0.0%)†
*Health Care Equipment & Supplies (0.0%)†*
Hologic, Inc., CVR* (Cost $4)		579		6


	Number of Shares
SHORT-TERM INVESTMENTS:
Investment Companies (2.2%)
Dreyfus Treasury Obligations Cash Management Fund 3.55% (7 day yield) (xx)		300,000		300,000
Invesco Government & Agency Portfolio, Institutional Shares 3.65% (7 day yield) (xx)		1,814,357		1,814,357
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 3.57% (7 day yield) (xx)		41,241		41,241

Total Investment Companies				2,155,598


	Principal Amount
U.S. Treasury Obligations (6.9%)
U.S. Treasury Bills
3.66%, 11/19/26(p)	$	4,000,000		3,955,331
3.73%, 12/10/26(p)		3,000,000		2,959,555

Total U.S. Treasury Obligations				6,914,886

Total Short-Term Investments (9.1%) (Cost $9,069,098)				9,070,484

Total Investments in Securities (97.8%) (Cost $94,800,532)				97,604,711
Other Assets Less Liabilities (2.2%)				2,204,614

Net Assets (100%)			$	99,809,325

*	Non-income producing.

†	Percent shown is less than 0.05%.

§	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At July 31, 2026, the market value of these securities amounted to $34,435,649 or 34.5% of net assets.

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

(e)

Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of July 31, 2026. Maturity date disclosed is the ultimate maturity date.

(k)

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of July 31, 2026.

(l)

(m)

(p)

Yield to maturity.

(q)

Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.

(s)

All, or a portion of security held by broker as collateral for option contracts, with a total collateral value of $3,742,396.

(x)

All or a portion of security is on loan at July 31, 2026.

(y)

(xx)

At July 31, 2026, the Fund had loaned securities with a total value of $2,346,407. This was collateralized by $256,778 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.000%, maturing 8/15/26 – 5/15/56 and by cash of $2,155,598 which was subsequently invested in investment companies.

Glossary:

CLO — Collateralized Loan Obligation

CVR — Contingent Value Rights

ELN — Equity-Linked Note

ICE — Intercontinental Exchange

ICE IBA — ICE Benchmark Administration Limited

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

TRY — Turkish Lira

USD — United States Dollar

UYU — Uruguayan Peso

Written Call Options Contracts as of July 31, 2026 (Note 1):

Description

Counterparty

Number of
Contracts

Notional
Amount

Exercise Price

Expiration
Date

Value
($)

S&P 500 Index

Exchange Traded

USD

(12,732,524)

USD 7,630.00

8/21/2026

(53,890

)

Total Written Options Contracts (Premiums Received ($109,276))

(53,890

)

See Notes to Portfolio of Investments.

1290 FUNDS

1290 LOOMIS SAYLES MULTI-ASSET INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities			Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)		Total
Assets:
Asset-Backed Securities	$	—		$	635,468	$	—	$	635,468
Common Stocks
Communication Services		1,540,971			51,203		—		1,592,174
Consumer Discretionary		1,987,125			879,157		—		2,866,282
Consumer Staples		2,439,060			788,132		—		3,227,192
Energy		2,157,438			604,254		—		2,761,692
Financials		3,336,519			1,826,269		—		5,162,788
Health Care		4,562,991			1,305,396		—		5,868,387
Industrials		2,287,527			1,309,676		—		3,597,203
Information Technology		4,787,194			810,499		—		5,597,693
Materials		374,749			272,620		—		647,369
Real Estate		1,394,345			315,567		—		1,709,912
Utilities		1,065,915			404,376		—		1,470,291
Convertible Bonds
Energy		—			68,698		—		68,698
Financials		—			76,514		—		76,514
Health Care		—			309,174		—		309,174
Industrials		—			154,936		—		154,936
Information Technology		—			79,970		—		79,970
Utilities		—			66,630		—		66,630
Convertible Preferred Stocks
Communication Services		319,898			—		—		319,898
Information Technology		77,226			—		—		77,226
Corporate Bonds
Communication Services		—			2,817,255		—		2,817,255
Consumer Discretionary		—			2,187,316		—		2,187,316
Consumer Staples		—			232,226		—		232,226
Energy		—			6,178,702		—		6,178,702
Financials		—			12,673,194		—		12,673,194
Health Care		—			792,182		—		792,182
Industrials		—			4,204,147		—		4,204,147
Information Technology		—			3,345,114		—		3,345,114
Materials		—			2,128,927		—		2,128,927
Real Estate		—			703,848		—		703,848
Utilities		—			2,132,512		—		2,132,512
Equity-Linked Notes		—			8,187,631		—		8,187,631
Foreign Government Securities		—			1,955,188		—		1,955,188
Rights
Health Care		—			6		—		6
Short-Term Investments
Investment Companies		2,155,598			—		—		2,155,598
U.S. Treasury Obligations		—			6,914,886		—		6,914,886
U.S. Government Agency Security		—			264,337		—		264,337
U.S. Treasury Obligations		—			4,442,145		—		4,442,145

Total Assets	$	28,486,556		$	69,118,155	$	—	$	97,604,711

Liabilities:
Options Written
Call Options Written	$	(53,890	)	$	—	$	—	$	(53,890	)

Total Liabilities	$	(53,890	)	$	—	$	—	$	(53,890	)

Total	$	28,432,666		$	69,118,155	$	—	$	97,550,821

See Notes to Portfolio of Investments.

1290 FUNDS

1290 MULTI-ALTERNATIVE STRATEGIES FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
EXCHANGE TRADED FUNDS (ETF):
Alternatives (27.6%)
iMGP DBi Managed Futures Strategy ETF(x)		192,000	$	5,936,640
NYLI Merger Arbitrage ETF*		126,130		4,606,621

Total Alternatives				10,543,261

Commodity (15.6%)
Invesco DB Agriculture Fund		53,460		1,470,685
Invesco DB Energy Fund		49,910		1,559,188
Invesco DB Precious Metals Fund		31,330		2,911,394

Total Commodity				5,941,267

Equity (27.5%)
iShares Core U.S. REIT ETF		38,160		2,590,682
JPMorgan Equity Premium Income ETF(x)		60,250		3,460,157
JPMorgan Nasdaq Equity Premium Income ETF(x)		31,150		1,814,488
Vanguard Global ex-U.S. Real Estate ETF		57,770		2,659,153

Total Equity				10,524,480

Fixed Income (28.2%)
iShares Convertible Bond ETF		57,900		6,556,017
Vanguard Short-Term Inflation-Protected Securities ETF		85,190		4,230,535

Total Fixed Income				10,786,552

Total Exchange Traded Funds (98.9%) (Cost $34,153,206)				37,795,560

SHORT-TERM INVESTMENTS:
Investment Companies (11.4%)
Invesco Government & Agency Portfolio, Institutional Shares 3.65% (7 day yield) (xx)		4,339,638		4,339,638

Total Short-Term Investments (11.4%) (Cost $4,339,638)				4,339,638

Total Investments in Securities (110.3%) (Cost $38,492,844)				42,135,198
Other Assets Less Liabilities (-10.3%)				(3,900,887	)

Net Assets (100%)			$	38,234,311

See Notes to Portfolio of Investments.

1290 FUNDS

1290 MULTI-ALTERNATIVE STRATEGIES FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

*	Non-income producing.

(x)

All or a portion of security is on loan at July 31, 2026.

(xx)

At July 31, 2026, the Fund had loaned securities with a total value of $5,088,120. This was collateralized by $839,516 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.250%, maturing 11/30/26 – 8/15/53 and by cash of $4,339,638 which was subsequently invested in investment companies.

Glossary:

REIT — Real Estate Investment Trust

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities		Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)		Total
Assets:
Exchange Traded Funds
Exchange Traded Funds	$	37,795,560	$	—	$	—	$	37,795,560
Short-Term Investments
Investment Companies		4,339,638		—		—		4,339,638

Total Assets	$	42,135,198	$	—	$	—	$	42,135,198

Total Liabilities	$	—	$	—	$	—	$	—

Total	$	42,135,198	$	—	$	—	$	42,135,198


Aggregate gross unrealized appreciation	$	3,007,984
Aggregate gross unrealized depreciation		—

Net unrealized appreciation	$	3,007,984

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	39,127,214

See Notes to Portfolio of Investments.

1290 FUNDS

1290 SMARTBETA EQUITY FUND

PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
COMMON STOCKS:
Communication Services (6.1%)
*Diversified Telecommunication Services (1.3%)*
AT&T, Inc.		14,981	$	348,308
Deutsche Telekom AG (Registered)		16,051		495,307
Koninklijke KPN NV		164,274		778,757
Telstra Group Ltd.		241,443		852,855
Verizon Communications, Inc.		29,361		1,374,388

				3,849,615

*Interactive Media & Services (4.1%)*
Alphabet, Inc., Class A		28,668		10,209,535
Meta Platforms, Inc., Class A		3,188		1,774,792

				11,984,327

*Media (0.1%)*
Fox Corp., Class A		5,301		308,677

*Wireless Telecommunication Services (0.6%)*
KDDI Corp.		18,300		335,969
SoftBank Corp.		256,100		359,591
T-Mobile US, Inc.		4,819		832,289

				1,527,849

Total Communication Services				17,670,468

Consumer Discretionary (8.2%)
*Automobiles (0.9%)*
General Motors Co.		10,705		951,246
Tesla, Inc.*		5,401		1,680,845

				2,632,091

*Broadline Retail (2.7%)*
Amazon.com, Inc.*		21,389		5,808,825
Dollarama, Inc.		5,463		744,209
eBay, Inc.		3,013		343,512
Wesfarmers Ltd.		15,570		979,013

				7,875,559

*Hotels, Restaurants & Leisure (1.9%)*
Airbnb, Inc., Class A*		2,385		361,375
Amadeus IT Group SA		5,621		345,742
Booking Holdings, Inc.		5,350		1,032,015
Compass Group plc		11,065		350,871
Darden Restaurants, Inc.		2,805		571,042
Hilton Worldwide Holdings, Inc.		2,004		642,262
Lottery Corp. Ltd. (The)		111,916		440,211
Marriott International, Inc., Class A		1,369		510,404
Restaurant Brands International, Inc.		4,843		358,479
Yum! Brands, Inc.		5,011		768,086

				5,380,487

*Household Durables (0.4%)*
Garmin Ltd.		1,533		450,365
Sony Group Corp.		27,500		654,552

				1,104,917

*Leisure Products (0.1%)*
Bandai Namco Holdings, Inc.		9,600		278,096

*Specialty Retail (2.2%)*
AutoZone, Inc.*		109		328,771
Fast Retailing Co. Ltd.		800		393,149
Home Depot, Inc. (The)		3,711		1,231,904
Industria de Diseno Textil SA		5,279		343,577
O’Reilly Automotive, Inc.*		11,177		998,665
Ross Stores, Inc.		1,704		427,823
TJX Cos., Inc. (The)		17,513		2,755,496

				6,479,385

Total Consumer Discretionary				23,750,535

Consumer Staples (8.6%)
*Beverages (2.5%)*
Anheuser-Busch InBev SA/NV		7,233	$	627,223
Coca-Cola Co. (The)		37,911		3,320,624
Keurig Dr. Pepper, Inc.		11,401		354,799
Kirin Holdings Co. Ltd.		22,000		408,322
Monster Beverage Corp.*		4,641		447,300
PepsiCo, Inc.		14,547		2,030,179

				7,188,447

*Consumer Staples Distribution & Retail (3.7%)*
Alimentation Couche-Tard, Inc.		15,965		1,036,470
Casey’s General Stores, Inc.		465		405,015
Coles Group Ltd.		43,938		744,790
Costco Wholesale Corp.		3,501		3,332,567
Empire Co. Ltd., Class A		9,205		336,918
George Weston Ltd.		13,791		1,030,697
Koninklijke Ahold Delhaize NV		10,620		420,788
Kroger Co. (The)		5,648		326,116
Loblaw Cos. Ltd.		17,046		800,226
Sysco Corp.		3,847		327,918
Tesco plc		99,917		659,176
Walmart, Inc.		8,049		895,049
Woolworths Group Ltd.		18,481		517,175

				10,832,905

*Food Products (0.6%)*
Danone SA		5,704		444,117
Hershey Co. (The)		1,551		271,503
Mondelez International, Inc., Class A		5,545		345,509
Nestle SA (Registered)		6,870		688,402

				1,749,531

*Household Products (1.2%)*
Church & Dwight Co., Inc.		4,952		489,307
Colgate-Palmolive Co.		18,509		1,689,872
Henkel AG & Co. KGaA (Preference)(q)		7,013		611,542
Kimberly-Clark Corp.		7,964		870,545

				3,661,266

*Personal Care Products (0.6%)*
Kao Corp.		28,600		587,441
L’Oreal SA		1,418		632,728
Unilever plc		3,624		232,938
Unilever plc (Cboe Europe)		4,701		300,506

				1,753,613

Total Consumer Staples				25,185,762

Energy (2.3%)
*Energy Equipment & Services (0.3%)*
Baker Hughes Co.		11,081		670,289
Halliburton Co.		8,391		270,610

				940,899

*Oil, Gas & Consumable Fuels (2.0%)*
Chevron Corp.		1,920		377,914
Enbridge, Inc.		23,766		1,293,199
Eni SpA		18,566		513,397
Equinor ASA (ADR)		10,080		414,288
ExxonMobil Holdings Corp.*		2,419		376,009
Idemitsu Kosan Co. Ltd.		43,200		355,961
Kinder Morgan, Inc.		11,611		373,642
Pembina Pipeline Corp.(x)		6,806		332,762
Suncor Energy, Inc.		7,883		529,376
TC Energy Corp.		9,944		669,625
Williams Cos., Inc. (The)		7,561		540,914

				5,777,087

Total Energy				6,717,986

See Notes to Portfolio of Investments.

1290 FUNDS

1290 SMARTBETA EQUITY FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
Financials (20.7%)
*Banks (5.3%)*
Bank of Montreal(x)		2,662	$	477,521
Bank of Nova Scotia (The)		10,042		880,882
CaixaBank SA		30,066		435,636
Canadian Imperial Bank of Commerce(x)		14,014		1,659,867
DBS Group Holdings Ltd.		12,100		698,384
DNB Bank ASA		18,395		591,978
Intesa Sanpaolo SpA		102,500		772,896
JPMorgan Chase & Co.		4,341		1,527,120
KBC Group NV		2,663		382,780
National Bank of Canada		4,142		669,971
Nordea Bank Abp (Aquis Stock Exchange)		23,265		469,491
Nordea Bank Abp (Turquoise Stock Exchange)		13,972		282,163
Oversea-Chinese Banking Corp. Ltd.		22,500		511,073
PNC Financial Services Group, Inc. (The)		2,141		534,972
Resona Holdings, Inc.		25,200		347,103
Royal Bank of Canada		6,657		1,393,323
Svenska Handelsbanken AB, Class A		24,883		380,606
Swedbank AB, Class A		10,721		428,966
Toronto-Dominion Bank (The)		20,181		2,419,100
UniCredit SpA		4,577		430,735

				15,294,567

*Capital Markets (3.5%)*
Ameriprise Financial, Inc.		1,500		818,760
Bank of New York Mellon Corp. (The)		7,700		1,203,741
Cboe Global Markets, Inc.		1,851		574,236
CME Group, Inc.		6,481		1,735,547
Deutsche Boerse AG		2,226		673,301
Intercontinental Exchange, Inc.		6,366		970,688
Moody’s Corp.		1,075		514,258
MSCI, Inc.		459		262,658
Nasdaq, Inc.		3,781		356,132
Northern Trust Corp.		2,725		496,468
S&P Global, Inc.		3,334		1,373,375
Singapore Exchange Ltd.		24,100		459,656
State Street Corp.		2,422		446,036
TMX Group Ltd.		9,500		347,241

				10,232,097

*Consumer Finance (0.3%)*
American Express Co.		2,591		871,224

*Financial Services (3.0%)*
Berkshire Hathaway, Inc., Class B*		3,523		1,802,156
Mastercard, Inc., Class A		5,383		3,084,997
Visa, Inc., Class A		10,754		3,937,362

				8,824,515

*Insurance (8.6%)*
Aflac, Inc.		5,945		757,869
AIA Group Ltd.		31,200		315,286
Allianz SE (Registered)		2,539		1,266,294
Allstate Corp. (The)		2,843		750,779
American International Group, Inc.		4,550		357,539
Aon plc, Class A		2,200		793,210
Arch Capital Group Ltd.*		3,792		381,210
Chubb Ltd.		6,003		2,105,132
Fairfax Financial Holdings Ltd.		301		504,059
Great-West Lifeco, Inc.		14,658		971,798
Hannover Rueck SE		2,056		594,142
Hartford Insurance Group, Inc. (The)		8,246		1,170,190
Insurance Australia Group Ltd.		58,770		351,091
Intact Financial Corp.		4,371		858,236
Loews Corp.		5,300		614,853
Manulife Financial Corp.		9,965		442,573
Marsh & McLennan Cos., Inc.		8,371		1,587,895
MetLife, Inc.		4,471		429,797
MS&AD Insurance Group Holdings, Inc.		13,400		414,705
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		1,164		700,932
Progressive Corp. (The)		5,495		1,161,753
QBE Insurance Group Ltd.		22,456		390,763
Sampo OYJ, Class A		81,372		903,059
Sompo Holdings, Inc.		10,600		473,887
Sun Life Financial, Inc.		10,300		854,580
Swiss Re AG		4,386		731,588
Tokio Marine Holdings, Inc.		9,600		489,578
Travelers Cos., Inc. (The)		5,330		1,995,339
Tryg A/S		17,644		421,093
W.R. Berkley Corp.		5,400		391,716
Willis Towers Watson plc		818		274,782
Zurich Insurance Group AG		2,143		1,632,333

				25,088,061

Total Financials				60,310,464

Health Care (7.2%)
*Biotechnology (0.8%)*
Amgen, Inc.		3,186		1,227,119
Gilead Sciences, Inc.		8,247		1,073,842

				2,300,961

*Health Care Equipment & Supplies (1.3%)*
Becton Dickinson & Co.		3,000		496,860
Edwards Lifesciences Corp.*		3,940		339,116
Hoya Corp.		2,000		310,172
Intuitive Surgical, Inc.*		2,320		819,726
Medtronic plc		9,934		848,264
STERIS plc		1,185		270,654
Stryker Corp.		2,001		651,726

				3,736,518

*Health Care Providers & Services (1.0%)*
Cardinal Health, Inc.		2,268		521,708
Cencora, Inc.		2,195		683,391
HCA Healthcare, Inc.		1,807		727,480
McKesson Corp.		1,267		1,084,793

				3,017,372

*Life Sciences Tools & Services (0.5%)*
Agilent Technologies, Inc.		2,904		401,827
Danaher Corp.		1,547		301,634
Mettler-Toledo International, Inc.*		231		327,165
Thermo Fisher Scientific, Inc.		651		373,869

				1,404,495

*Pharmaceuticals (3.6%)*
Astellas Pharma, Inc.		24,700		341,846
Bristol-Myers Squibb Co.		19,791		1,292,550
Chugai Pharmaceutical Co. Ltd.		7,100		309,338
Eli Lilly & Co.		1,293		1,485,450
Johnson & Johnson		10,451		2,679,114
Novartis AG (Registered)		10,826		1,695,308
Otsuka Holdings Co. Ltd.		4,600		320,920
Pfizer, Inc.		13,223		330,707
Roche Holding AG		1,660		726,051
Sanofi SA		4,752		408,079
Takeda Pharmaceutical Co. Ltd.		10,700		370,756

See Notes to Portfolio of Investments.

1290 FUNDS

1290 SMARTBETA EQUITY FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
Zoetis, Inc.		5,625	$	434,756

				10,394,875

Total Health Care				20,854,221

Industrials (14.8%)
*Aerospace & Defense (3.4%)*
GE Aerospace		4,304		1,549,741
General Dynamics Corp.		5,125		1,965,028
Honeywell Aerospace, Inc.*		2,617		541,039
Howmet Aerospace, Inc.		3,908		1,103,072
L3Harris Technologies, Inc.		1,095		303,381
Lockheed Martin Corp.		1,904		1,109,537
MTU Aero Engines AG		840		350,456
Northrop Grumman Corp.		894		484,977
RTX Corp.		10,437		2,246,251
Safran SA		900		351,203

				10,004,685

*Air Freight & Logistics (0.5%)*
Expeditors International of Washington, Inc.		4,800		805,872
FedEx Corp.		2,016		619,719

				1,425,591

*Building Products (1.3%)*
Allegion plc		5,500		865,700
Geberit AG (Registered)		619		407,486
Johnson Controls International plc		7,430		1,089,684
Trane Technologies plc		2,751		1,251,567

				3,614,437

*Commercial Services & Supplies (1.1%)*
Brambles Ltd.		40,979		564,875
Cintas Corp.		6,185		1,265,637
Republic Services, Inc.		3,877		816,302
Rollins, Inc.		5,755		218,517
Secom Co. Ltd.		7,600		328,734

				3,194,065

*Construction & Engineering (0.6%)*
ACS Actividades de Construccion y Servicios SA		3,575		454,713
EMCOR Group, Inc.		483		385,159
Stantec, Inc.		3,784		267,041
Vinci SA		2,466		348,491
WSP Global, Inc.(x)		2,894		353,572

				1,808,976

*Electrical Equipment (0.4%)*
AMETEK, Inc.		1,653		399,547
Mitsubishi Electric Corp.		11,700		434,747
Rockwell Automation, Inc.		794		381,183

				1,215,477

*Ground Transportation (1.3%)*
Central Japan Railway Co.		22,900		573,993
CSX Corp.		8,685		437,724
East Japan Railway Co.		13,700		316,528
Old Dominion Freight Line, Inc.		1,667		353,637
Uber Technologies, Inc.*		4,653		327,385
Union Pacific Corp.		6,189		1,807,993

				3,817,260

*Industrial Conglomerates (0.4%)*
Honeywell International, Inc.		2,617		636,062
Siemens AG (Registered)		1,309		426,653

				1,062,715

*Machinery (3.1%)*
Atlas Copco AB, Class A		35,680		753,528
Caterpillar, Inc.		1,151		937,846
Cummins, Inc.		1,575		998,865
Epiroc AB, Class A		13,403		343,583
FANUC Corp.		7,100		318,397
GEA Group AG		9,706		690,016
Illinois Tool Works, Inc.		4,800		1,377,360
Kone OYJ, Class B		4,544		262,520
Parker-Hannifin Corp.		1,241		1,211,874
Pentair plc		5,900		386,096
Sandvik AB		7,524		281,295
Snap-on, Inc.		1,600		656,656
Volvo AB, Class B		7,615		291,334
Wartsila OYJ Abp		7,611		257,506
Xylem, Inc.		2,510		293,595

				9,060,471

*Professional Services (1.6%)*
Automatic Data Processing, Inc.		7,499		1,998,184
Broadridge Financial Solutions, Inc.		3,747		576,851
Leidos Holdings, Inc.		2,034		235,130
Paychex, Inc.		4,091		477,992
SGS SA (Registered)		3,109		368,334
Verisk Analytics, Inc.		2,496		486,346
Wolters Kluwer NV		4,833		378,307

				4,521,144

*Trading Companies & Distributors (1.0%)*
Fastenal Co.		15,900		758,589
ITOCHU Corp.		47,500		601,270
Toromont Industries Ltd.		2,937		441,791
W.W. Grainger, Inc.		800		1,105,776

				2,907,426

*Transportation Infrastructure (0.1%)*
Transurban Group		31,743		330,796

Total Industrials				42,963,043

Information Technology (23.5%)
*Communications Equipment (1.4%)*
Arista Networks, Inc.*		5,264		949,362
Ciena Corp.*		1,377		519,198
Cisco Systems, Inc.		10,286		1,193,073
Motorola Solutions, Inc.		3,398		1,480,679

				4,142,312

*Electronic Equipment, Instruments & Components (0.6%)*
Amphenol Corp., Class A		2,931		471,012
CDW Corp.		1,993		294,585
Jabil, Inc.		1,144		360,417
Murata Manufacturing Co. Ltd.		6,200		288,986
TE Connectivity plc		2,262		465,271

				1,880,271

*IT Services (0.7%)*
Accenture plc, Class A		4,927		817,488
Cognizant Technology Solutions Corp., Class A		5,595		309,683
Fujitsu Ltd.		15,600		358,759
VeriSign, Inc.		1,395		404,578

				1,890,508

*Semiconductors & Semiconductor Equipment (9.0%)*
Advanced Micro Devices, Inc.*		2,233		1,063,243
Advantest Corp.		1,800		367,682
Analog Devices, Inc.		2,245		824,836
Applied Materials, Inc.		2,775		1,408,784
ASML Holding NV (Registered) (ADR)		310		504,990
Broadcom, Inc.		11,222		4,368,500
KLA Corp.		7,697		1,407,166
Lam Research Corp.		4,864		1,425,249
Micron Technology, Inc.		2,335		1,921,775
NVIDIA Corp.		62,628		12,572,571
NXP Semiconductors NV		1,064		243,826

				26,108,622

See Notes to Portfolio of Investments.

1290 FUNDS

1290 SMARTBETA EQUITY FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)


	Number of Shares		Value (Note 1)
*Software (5.7%)*
AppLovin Corp., Class A*		1,515	$	599,789
Autodesk, Inc.*		1,948		456,222
Fortinet, Inc.*		4,779		773,959
Intuit, Inc.		1,590		502,551
Microsoft Corp.		21,985		10,216,869
Palantir Technologies, Inc., Class A*		8,063		992,233
Roper Technologies, Inc.		1,600		627,152
Salesforce, Inc.		4,811		885,320
SAP SE		4,061		738,406
ServiceNow, Inc.*		7,003		778,944

				16,571,445

*Technology Hardware, Storage & Peripherals (6.1%)*
Apple, Inc.		41,331		12,767,559
Canon, Inc.(x)		16,000		445,291
Dell Technologies, Inc., Class C		2,029		822,496
NetApp, Inc.		2,900		517,650
Seagate Technology Holdings plc		1,853		1,586,409
Western Digital Corp.		3,019		1,644,872

				17,784,277

Total Information Technology				68,377,435

Materials (2.1%)
*Chemicals (1.9%)*
Air Liquide SA		1,650		324,829
Ecolab, Inc.		5,697		1,581,658
Linde plc		5,435		2,599,995
Sherwin-Williams Co. (The)		2,900		988,465

				5,494,947

*Metals & Mining (0.2%)*
Franco-Nevada Corp.		2,678		569,737

Total Materials				6,064,684

Real Estate (0.9%)
*Real Estate Management & Development (0.4%)*
Daito Trust Construction Co. Ltd.		18,000		381,145
Mitsubishi Estate Co. Ltd.		10,400		254,468
Mitsui Fudosan Co. Ltd.		53,400		523,579

				1,159,192

*Retail REITs (0.3%)*
Realty Income Corp. (REIT)		6,057		386,861
Simon Property Group, Inc. (REIT)		1,831		419,976

				806,837

*Specialized REITs (0.2%)*
Digital Realty Trust, Inc. (REIT)		1,677		316,148
Equinix, Inc. (REIT)		305		310,880

				627,028

Total Real Estate				2,593,057

Utilities (3.9%)
*Electric Utilities (1.6%)*
Duke Energy Corp.		6,042		757,848
Enel SpA		64,680		730,866
Eversource Energy		5,043		361,028
Exelon Corp.		8,780		402,300
Hydro One Ltd.(m)		13,760		573,231
Iberdrola SA		47,505		1,131,215
Southern Co. (The)		7,103		671,518

				4,628,006

*Gas Utilities (0.7%)*
AltaGas Ltd.		11,477		456,673
Atmos Energy Corp.		5,688		982,773
Hong Kong & China Gas Co. Ltd.(x)		308,000		276,094
Osaka Gas Co. Ltd.		8,900		308,497

				2,024,037

*Multi-Utilities (1.5%)*
Consolidated Edison, Inc.		7,600		827,260
E.ON SE		37,794		815,640
National Grid plc		26,197		420,153
Public Service Enterprise Group, Inc.		12,100		927,828
Sempra		10,912		966,258
WEC Energy Group, Inc.		2,790		305,282

				4,262,421

*Water Utilities (0.1%)*
American Water Works Co., Inc.		2,732		366,552

Total Utilities				11,281,016

Total Common Stocks (98.3%) (Cost $224,953,223)				285,768,671


	Number of Warrants
WARRANTS:
Information Technology (0.0%)
*Software (0.0%)*
Constellation Software, Inc., expiring 3/31/40(r)* (Cost $—)		100		—


	Number of Shares
SHORT-TERM INVESTMENTS:
Investment Companies (1.5%)
Invesco Government & Agency Portfolio, Institutional Shares 3.65% (7 day yield) (xx)		397,322	$	397,322
JPMorgan Prime Money Market Fund, IM Shares 3.84% (7 day yield)		3,932,820		3,933,214
RBC BlueBay U.S. Government Money Market Fund, Institutional Shares 3.57% (7 day yield) (xx)		100,000		100,000

Total Investment Companies				4,430,536

Total Short-Term Investments (1.5%) (Cost $4,430,401)				4,430,536

Total Investments in Securities (99.8%) (Cost $229,383,624)				290,199,207
Other Assets Less Liabilities (0.2%)				569,281

Net Assets (100%)			$	290,768,488

*	Non-income producing.

(m)

(q)

Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.

(r)

Fair value determined using significant unobservable inputs.

(x)

All or a portion of security is on loan at July 31, 2026.

(xx)

At July 31, 2026, the Fund had loaned securities with a total value of $2,077,660. This was collateralized by $1,708,444 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.000%, maturing 8/15/26 – 5/15/56 and by cash of $497,322 which was subsequently invested in investment companies.

See Notes to Portfolio of Investments.

1290 FUNDS

1290 SMARTBETA EQUITY FUND

PORTFOLIO OF INVESTMENTS (Continued)

July 31, 2026 (Unaudited)

Glossary:

ADR — American Depositary Receipt

REIT — Real Estate Investment Trust

The following is a summary of the inputs, summarized in three broad levels, used to value the Fund’s assets and liabilities carried at fair value as of July 31, 2026:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.


Investment Type	Level 1 Quoted Prices in Active Markets for Identical Securities		Level 2 Significant Other Observable Inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments)			Total
Assets:
Common Stocks
Communication Services	$	14,847,989	$	2,822,479	$	—		$	17,670,468
Consumer Discretionary		19,965,324		3,785,211		—			23,750,535
Consumer Staples		18,310,614		6,875,148		—			25,185,762
Energy		5,848,628		869,358		—			6,717,986
Financials		44,760,945		15,549,519		—			60,310,464
Health Care		16,371,751		4,482,470		—			20,854,221
Industrials		33,528,278		9,434,765		—			42,963,043
Information Technology		66,178,311		2,199,124		—			68,377,435
Materials		5,739,855		324,829		—			6,064,684
Real Estate		1,433,865		1,159,192		—			2,593,057
Utilities		7,598,551		3,682,465		—			11,281,016
Short-Term Investments
Investment Companies		4,430,536		—		—			4,430,536
Warrants
Information Technology		—		—		—	(a)		—	(a)

Total Assets	$	239,014,647	$	51,184,560	$	—		$	290,199,207

Total Liabilities	$	—	$	—	$	—		$	—

Total	$	239,014,647	$	51,184,560	$	—		$	290,199,207


(a) Value is zero.


Aggregate gross unrealized appreciation	$	68,670,875
Aggregate gross unrealized depreciation		(8,432,870	)

Net unrealized appreciation	$	60,238,005

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	229,961,202

See Notes to Portfolio of Investments.

1290 FUNDS

NOTES TO PORTFOLIO OF INVESTMENTS

July 31, 2026 (Unaudited)

Note 1 Valuation

The Board of Trustees (the “Board”) of the 1290 Funds (the “Trust”) is primarily responsible for overseeing that appropriate valuation methods are used to price securities and other investments for each series (each, a “Fund” and collectively, the “Funds”) of the Trust. Section 2(a)(41) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires funds to value their portfolio investments using: (i) the market value of their portfolio securities when market quotations are “readily available” and (ii) the investment’s fair value, as determined in good faith by the Board, when a market quotation for a portfolio security is not readily available or if the investment is not a security. Rule 2a-5 under the 1940 Act (“Rule 2a-5”) permits the Board to designate a “valuation designee” to perform the fair value determinations for any and all Fund investments, subject to Board oversight and certain other requirements designed to facilitate the Board’s ability to effectively oversee fair value determinations. Pursuant to Rule 2a-5, the Board designated Equitable Investment Management, LLC, the Trust’s investment adviser (the “Adviser”), as the Funds’ valuation designee. As the Funds’ valuation designee, the Adviser is responsible for determining fair value in good faith for any and all Fund investments. The Adviser has adopted pricing procedures (“Pricing Procedures”) to establish methods for valuing portfolio securities and other investments held by the Trust and its respective Funds, in accordance with Section 2(a)(41) of the 1940 Act and Rule 2a-5. The Board has delegated the responsibility of calculating the net asset values (“NAVs”) of each of the Trust’s Funds and classes pursuant to these Pricing Procedures to the Trust’s administrator, Equitable Investment Management, LLC (the “Administrator”). The Administrator has entered into a sub-administration agreement with JPMorgan Chase Bank, N.A. (the “Sub-Administrator”), to assist in performing certain duties, including the calculation of the Funds’ NAVs. The valuation designee has established a valuation committee (the “Committee”) with day-to-day responsibility for, among other things, determining when market values for assets held by the Trust are not readily available, determining the fair value of any such asset and making the actual calculation of the fair value of any such asset in accordance with the Pricing Procedures. The Committee is comprised of senior employees from the Adviser.

Due to the inherent uncertainty of the valuation of securities for which market quotations are not readily available, the fair value of such securities may differ significantly from the values that would have been used had a ready market for such securities existed.

Various inputs are used in determining the value of each Fund’s assets or liabilities carried at fair value. These inputs are summarized in three broad levels below:

•

Level 1 - quoted prices in active markets for identical assets

•

Level 2 - other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

A summary of inputs used to value each Fund’s assets and liabilities carried at fair value as of July 31, 2026, is included in the Portfolio of Investments for each Fund. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level.

Transfers into and transfers out of Level 3, are included in the Level 3 reconciliation following the Portfolio of Investments for each Fund, if any. Transfers between levels may be due to a decline, or an increase, in market activity (e.g., frequency of trades), which may result in a lack of, or increase in, available observable market inputs to determine price.

The inputs or methodology used to fair value securities are not necessarily an indication of the risk associated with investing in those securities. An investment’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement.

The Committee has the ability to meet and review reports based on the valuation techniques used to fair value Level 3 securities. As part of a review, the Committee would consider obtaining updates from its pricing vendors and Sub-Advisers for fair valued securities. For example, with respect to model driven prices, the Committee could receive reports regarding a review and recalculation of pricing models and related discounts. For those securities which are valued based on broker quotes, the Committee may evaluate variances between existing broker quotes and any alternative broker quotes provided by a Sub-Adviser or other pricing source.

To substantiate unobservable inputs used in a fair valuation, the Committee may perform an independent verification as well as additional research for fair value notifications received from the pricing agents. Among other factors, particular areas of focus may include: description of security, historical pricing, intra-day price movement, last trade information, corporate actions, related securities, any available company news and announcements, any available trade data or other information. The Committee also notes the materiality of holdings and price changes on a Fund’s NAV.

The Committee reviews and considers changes in value for all fair valued securities that have occurred since the last review.

Events or circumstances affecting the values of Fund securities that occur between the closing of their principal markets and the time the NAV is determined may be reflected in the Trust’s calculation of a NAV for each applicable Fund when the Committee deems


Aggregate gross unrealized appreciation	$	3,872,461
Aggregate gross unrealized depreciation		(1,779,469	)

Net unrealized appreciation	$	2,092,992

Federal income tax cost of investments in securities and derivative instruments, if applicable	$	95,457,829