UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR/A
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-23117
JPMorgan Trust IV
(Exact name of registrant as specified in charter)
277 Park Avenue
New York, NY 10172
(Address of principal executive offices) (Zip code)
Gregory S. Samuels
277 Park Avenue
New York, NY 10172
(Name and Address of Agent for Service)
Registrant’s telephone number, including area code: (800) 480-4111
Date of fiscal year end: June 30
Date of reporting period: July 1, 2021 through June 30, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Section 3507.
EXPLANTORY NOTE
This Registrant is filing this amendment (“Amendment”) to its Form N-CSR for the period ended June 30, 2022, originally filed with the Securities and Exchange Commission on September 6, 2022 (Accession Number 0001193125-22-238795), to reflect revisions to the disclosure in Form N-CSR Item 11 (b) and Item 4 (d) of the certification.
ITEM 1. REPORTS TO STOCKHOLDERS.
a.) The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).
b.) A copy of the notice transmitted to shareholders in reliance on Rule 30e-3 under the 1940 Act that contains disclosures specified by paragraph (c)(3) of that rule is included in the Annual Report. Not Applicable. Notices do not incorporate disclosures from the
shareholder reports.
JPMorgan Equity Focus Fund |
JPMorgan Equity Income Fund |
JPMorgan Equity Index Fund |
JPMorgan Equity Premium Income Fund |
JPMorgan Hedged Equity Fund |
JPMorgan Hedged Equity 2 Fund |
JPMorgan Hedged Equity 3 Fund |
JPMorgan Large Cap Growth Fund |
JPMorgan Large Cap Value Fund |
JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) |
JPMorgan U.S. Equity Fund |
JPMorgan U.S. GARP Equity Fund |
JPMorgan U.S. Large Cap Core Plus Fund |
JPMorgan U.S. Research Enhanced Equity Fund |
JPMorgan U.S. Sustainable Leaders Fund |
JPMorgan U.S. Value Fund |
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31 | |
33 | |
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140 | |
184 | |
212 | |
214 | |
218 | |
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227 | |
229 | |
Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets.
Prospective investors should refer to the Funds’ prospectuses for a discussion of the Funds’ investment objectives, strategies and risks. Call J.P. Morgan Funds Service Center at 1-800-480-4111 for a prospectus containing more complete information about a Fund, including management fees and other expenses. Please read it carefully before investing.
August 8, 2022 (Unaudited)
“It remains essential, in our view, that investors consider the potential benefits of portfolio diversification that adapts to near-term market conditions while cultivating long-term opportunities.” — Andrea L. Lisher |
Head of Americas, Client
J.P. Morgan Asset Management
June 30, 2022 | J.P. Morgan Large Cap Funds | 1 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
2 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (9.08)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $179,923 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 5.5% |
2. | Apple, Inc. | 5.5 |
3. | Alphabet, Inc., Class C | 4.1 |
4. | AutoZone, Inc. | 4.1 |
5. | UnitedHealth Group, Inc. | 3.7 |
6. | Bank of America Corp. | 3.6 |
7. | Loews Corp. | 3.6 |
8. | Weyerhaeuser Co. | 3.3 |
9. | Berkshire Hathaway, Inc., Class B | 3.1 |
10. | Capital One Financial Corp. | 3.0 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 22.1% |
Financials | 13.3 |
Health Care | 12.9 |
Consumer Discretionary | 11.6 |
Communication Services | 8.0 |
Industrials | 7.7 |
Energy | 4.8 |
Materials | 4.5 |
Real Estate | 4.4 |
Consumer Staples | 2.4 |
Utilities | 2.2 |
Short-Term Investments | 6.1 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 3 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | July 29, 2011 | |||
With Sales Charge * | (14.08)% | 10.94% | 12.73% | |
Without Sales Charge | (9.32) | 12.14 | 13.34 | |
CLASS C SHARES | July 29, 2011 | |||
With CDSC ** | (10.79) | 11.59 | 12.88 | |
Without CDSC | (9.79) | 11.59 | 12.88 | |
Class I SHARES | July 29, 2011 | (9.08) | 12.43 | 13.62 |
Class R6 SHARES | October 1, 2018 | (8.87) | 12.64 | 13.73 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
4 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund Class I Shares * | (1.87)% |
Russell 1000 Value Index | (6.82)% |
Net Assets as of 6/30/2022 (In Thousands) | $45,971,414 |
Shares of General Dynamics, Raytheon and Northrop Grumman, each an aerospace and defense manufacturers, rose after they reported better-than-expected quarterly earnings and as the military conflict in Ukraine increased demand for military hardware across Europe.
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | UnitedHealth Group, Inc. | 3.2% |
2. | Bristol-Myers Squibb Co. | 2.8 |
3. | ConocoPhillips | 2.6 |
4. | Raytheon Technologies Corp. | 2.5 |
5. | Exxon Mobil Corp. | 2.4 |
6. | Johnson & Johnson | 2.2 |
7. | Philip Morris International, Inc. | 2.1 |
8. | Comcast Corp., Class A | 2.0 |
9. | Analog Devices, Inc. | 1.9 |
10. | Bank of America Corp. | 1.8 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Financials | 20.6% |
Health Care | 19.8 |
Industrials | 13.6 |
Consumer Staples | 10.0 |
Information Technology | 8.4 |
Energy | 8.0 |
Consumer Discretionary | 5.9 |
Utilities | 4.1 |
Communication Services | 2.9 |
Materials | 2.8 |
Real Estate | 2.4 |
Short-Term Investments | 1.5 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 5 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 18, 1992 | |||
With Sales Charge * | (7.24)% | 8.22% | 10.61% | |
Without Sales Charge | (2.10) | 9.39 | 11.22 | |
CLASS C SHARES | November 4, 1997 | |||
With CDSC ** | (3.63) | 8.85 | 10.77 | |
Without CDSC | (2.63) | 8.85 | 10.77 | |
Class I SHARES | July 2, 1987 | (1.87) | 9.68 | 11.50 |
Class R2 SHARES | February 28, 2011 | (2.36) | 9.12 | 10.93 |
Class R3 SHARES | September 9, 2016 | (2.10) | 9.40 | 11.22 |
Class R4 SHARES | September 9, 2016 | (1.91) | 9.66 | 11.50 |
Class R5 SHARES | February 28, 2011 | (1.72) | 9.85 | 11.70 |
Class R6 SHARES | January 31, 2012 | (1.62) | 9.95 | 11.78 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
6 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (10.81)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $7,257,784 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Apple, Inc. | 6.5% |
2. | Microsoft Corp. | 6.0 |
3. | Amazon.com, Inc. | 2.9 |
4. | Alphabet, Inc., Class A | 2.0 |
5. | Alphabet, Inc., Class C | 1.9 |
6. | Tesla, Inc. | 1.8 |
7. | Berkshire Hathaway, Inc., Class B | 1.5 |
8. | UnitedHealth Group, Inc. | 1.5 |
9. | Johnson & Johnson | 1.5 |
10. | NVIDIA Corp. | 1.2 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 26.6% |
Health Care | 15.1 |
Financials | 10.8 |
Consumer Discretionary | 10.4 |
Communication Services | 8.8 |
Industrials | 7.8 |
Consumer Staples | 6.9 |
Energy | 4.3 |
Utilities | 3.1 |
Real Estate | 2.9 |
Materials | 2.6 |
Short-Term Investments | 0.7 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 7 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 18, 1992 | |||
With Sales Charge * | (15.69)% | 9.64% | 11.84% | |
Without Sales Charge | (11.02) | 10.83 | 12.45 | |
CLASS C SHARES | November 4, 1997 | |||
With CDSC ** | (12.55) | 10.16 | 11.83 | |
Without CDSC | (11.55) | 10.16 | 11.83 | |
Class I SHARES | July 2, 1991 | (10.81) | 11.10 | 12.73 |
Class R6 SHARES | September 1, 2016 | (10.67) | 11.27 | 12.83 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
8 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (0.73)% |
S&P 500 Index | (10.62)% |
ICE BofAML 3-Month US Treasury Bill Index | 0.17% |
Net Assets as of 6/30/2022 (In Thousands) | $3,610,591 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 9 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
ELN | Equity-Linked Note |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Canadian Imperial Bank of Commerce, ELN, 68.70%, 7/11/2022, (linked to S&P 500 Index) (Canada) | 1.7% |
2. | Progressive Corp. (The) | 1.7 |
3. | Credit Suisse AG, ELN, 67.80%, 7/8/2022, (linked to S&P 500 Index) (Switzerland) | 1.7 |
4. | AbbVie, Inc. | 1.6 |
5. | Bristol-Myers Squibb Co. | 1.6 |
6. | UnitedHealth Group, Inc. | 1.6 |
7. | Credit Suisse AG, ELN, 65.60%, 7/18/2022, (linked to S&P 500 Index) (Switzerland) | 1.6 |
8. | Coca-Cola Co. (The) | 1.6 |
9. | Societe Generale SA, ELN, 64.80%, 7/15/2022, (linked to S&P 500 Index) | 1.6 |
10. | BNP Paribas, ELN, 79.00%, 8/5/2022, (linked to S&P 500 Index) | 1.6 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Health Care | 12.9% |
Consumer Staples | 11.9 |
Industrials | 11.6 |
Information Technology | 10.8 |
Financials | 9.5 |
Utilities | 8.3 |
Consumer Discretionary | 4.7 |
Communication Services | 4.5 |
Materials | 3.4 |
Real Estate | 2.8 |
Energy | 2.7 |
Other | 14.7 |
Short-Term Investments | 2.2 |
10 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | SINCE INCEPTION | |
CLASS A SHARES | August 31, 2018 | ||
With Sales Charge * | (6.22)% | 5.76% | |
Without Sales Charge | (1.05) | 7.26 | |
CLASS C SHARES | August 31, 2018 | ||
With CDSC ** | (2.54) | 6.73 | |
Without CDSC | (1.54) | 6.73 | |
Class I SHARES | August 31, 2018 | (0.73) | 7.53 |
Class R5 SHARES | August 31, 2018 | (0.66) | 7.67 |
Class R6 SHARES | August 31, 2018 | (0.49) | 7.80 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 11 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (5.79)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $16,494,334 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 6.8% |
2. | Apple, Inc. | 6.5 |
3. | Amazon.com, Inc. | 3.1 |
4. | S&P 500 Index. | 3.0 |
5. | Alphabet, Inc., ClassA | 2.6 |
6. | Alphabet, Inc., ClassC | 1.9 |
7. | UnitedHealth Group, Inc. | 1.8 |
8. | Tesla, Inc. | 1.6 |
9. | Visa, Inc., ClassA | 1.5 |
10. | Berkshire Hathaway, Inc., | 1.4 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 25.7% |
Health Care | 14.9 |
Consumer Discretionary | 11.0 |
Financials | 10.3 |
Communication Services | 8.4 |
Industrials | 8.0 |
Consumer Staples | 6.3 |
Energy | 4.2 |
Utilities | 3.0 |
Put Options Purchased | 3.0 |
Real Estate | 2.7 |
Materials | 2.5 |
12 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
CLASS A SHARES | December 13, 2013 | |||
With Sales Charge * | (10.92)% | 5.52% | 6.08% | |
Without Sales Charge | (6.00) | 6.66 | 6.75 | |
CLASS C SHARES | December 13, 2013 | |||
With CDSC ** | (7.49) | 6.13 | 6.25 | |
Without CDSC | (6.49) | 6.13 | 6.25 | |
Class I SHARES | December 13, 2013 | (5.79) | 6.93 | 7.02 |
Class R5 SHARES | December 13, 2013 | (5.64) | 7.08 | 7.20 |
Class R6 SHARES | December 13, 2013 | (5.54) | 7.19 | 7.27 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 13 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (6.22)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $5,623,467 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 6.4% |
2. | Apple, Inc. | 6.1 |
3. | S&P 500 Index 7/29/2022 at USD 3,910.00, European Style | 4.4 |
4. | Amazon.com, Inc. | 3.0 |
5. | Alphabet, Inc., Class A | 2.4 |
6. | Alphabet, Inc., Class C | 1.8 |
7. | UnitedHealth Group, Inc. | 1.7 |
8. | Tesla, Inc. | 1.5 |
9. | Visa, Inc., Class A | 1.4 |
10. | Berkshire Hathaway, Inc., Class B | 1.4 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 24.3% |
Health Care | 14.0 |
Consumer Discretionary | 10.4 |
Financials | 9.8 |
Communication Services | 8.0 |
Industrials | 7.7 |
Consumer Staples | 6.0 |
Put Options Purchased | 4.4 |
Energy | 4.0 |
Utilities | 2.8 |
Real Estate | 2.6 |
Materials | 2.3 |
Short-Term Investments | 3.7 |
14 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | SINCE INCEPTION | |
CLASS A SHARES | February 26, 2021 | ||
With Sales Charge * | (11.37)% | (4.20)% | |
Without Sales Charge | (6.49) | (0.28) | |
CLASS C SHARES | February 26, 2021 | ||
With CDSC ** | (7.90) | (0.74) | |
Without CDSC | (6.90) | (0.74) | |
Class I SHARES | February 26, 2021 | (6.22) | 0.00 |
Class R5 SHARES | February 26, 2021 | (6.10) | 0.12 |
Class R6 SHARES | February 26, 2021 | (6.01) | 0.25 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 15 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (9.58)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $2,851,293 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 6.5% |
2. | Apple, Inc. | 6.2 |
3. | S&P 500 Index 8/31/2022 at USD 3,905.00, European Style | 5.4 |
4. | Amazon.com, Inc. | 3.0 |
5. | Alphabet, Inc., Class A | 2.4 |
6. | Alphabet, Inc., Class C | 1.9 |
7. | UnitedHealth Group, Inc. | 1.8 |
8. | Tesla, Inc. | 1.5 |
9. | Visa, Inc., Class A | 1.4 |
10. | Berkshire Hathaway, Inc., Class B | 1.4 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 24.5% |
Health Care | 14.1 |
Consumer Discretionary | 10.5 |
Financials | 9.9 |
Communication Services | 8.1 |
Industrials | 7.7 |
Consumer Staples | 6.0 |
Put Options Purchased | 5.4 |
Energy | 4.0 |
Utilities | 2.8 |
Real Estate | 2.6 |
Materials | 2.3 |
Short-Term Investments | 2.1 |
16 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | SINCE INCEPTION | |
CLASS A SHARES | February 26, 2021 | ||
With Sales Charge * | (14.50)% | (6.76)% | |
Without Sales Charge | (9.78) | (2.94) | |
CLASS C SHARES | February 26, 2021 | ||
With CDSC ** | (11.28) | (3.43) | |
Without CDSC | (10.28) | (3.43) | |
Class I SHARES | February 26, 2021 | (9.58) | (2.69) |
Class R5 SHARES | February 26, 2021 | (9.41) | (2.54) |
Class R6 SHARES | February 26, 2021 | (9.33) | (2.45) |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 17 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (20.49)% |
Russell 1000 Growth Index | (18.77)% |
Net Assets as of 6/30/2022 (In Thousands) | $31,346,698 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Apple, Inc. | 9.3% |
2. | Microsoft Corp. | 9.0 |
3. | Alphabet, Inc., Class C | 6.7 |
4. | Tesla, Inc. | 3.7 |
5. | AbbVie, Inc. | 3.7 |
6. | AutoZone, Inc. | 3.1 |
7. | Coca-Cola Co. (The) | 2.9 |
8. | McKesson Corp. | 2.7 |
9. | Deere & Co. | 2.7 |
10. | Lowe's Cos., Inc. | 2.6 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 32.1% |
Health Care | 18.0 |
Consumer Discretionary | 14.4 |
Industrials | 7.5 |
Communication Services | 7.2 |
Financials | 6.8 |
Consumer Staples | 4.1 |
Materials | 2.0 |
Energy | 1.9 |
Short-Term Investments | 6.0 |
18 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 22, 1994 | |||
With Sales Charge * | (24.85)% | 15.02% | 14.34% | |
Without Sales Charge | (20.68) | 16.27 | 14.96 | |
CLASS C SHARES | November 4, 1997 | |||
With CDSC ** | (22.07) | 15.69 | 14.50 | |
Without CDSC | (21.07) | 15.69 | 14.50 | |
Class I SHARES | February 28, 1992 | (20.49) | 16.55 | 15.20 |
Class R2 SHARES | November 3, 2008 | (20.88) | 15.97 | 14.67 |
Class R3 SHARES | September 9, 2016 | (20.68) | 16.26 | 14.94 |
Class R4 SHARES | September 9, 2016 | (20.48) | 16.55 | 15.20 |
Class R5 SHARES | April 14, 2009 | (20.37) | 16.73 | 15.39 |
Class R6 SHARES | November 30, 2010 | (20.29) | 16.85 | 15.50 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 19 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (5.04)% |
Russell 1000 Value Index | (6.82)% |
Net Assets as of 6/30/2022 (In Thousands) | $3,196,018 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Bristol-Myers Squibb Co. | 4.5% |
2. | Wells Fargo & Co. | 3.3 |
3. | Chevron Corp. | 3.2 |
4. | Raytheon Technologies Corp. | 3.0 |
5. | Centene Corp. | 2.9 |
6. | Comcast Corp., Class A | 2.8 |
7. | Hess Corp. | 2.7 |
8. | Exxon Mobil Corp. | 2.5 |
9. | AbbVie, Inc. | 2.4 |
10. | Vertex Pharmaceuticals, Inc. | 2.3 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Health Care | 24.4% |
Financials | 17.8 |
Energy | 10.5 |
Industrials | 10.3 |
Consumer Staples | 7.5 |
Utilities | 5.7 |
Real Estate | 5.0 |
Information Technology | 4.7 |
Communication Services | 4.3 |
Materials | 3.2 |
Consumer Discretionary | 2.5 |
Short-Term Investments | 4.1 |
20 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 18, 1992 | |||
With Sales Charge * | (10.18)% | 7.40% | 11.88% | |
Without Sales Charge | (5.22) | 8.57 | 12.49 | |
CLASS C SHARES | March 22, 1999 | |||
With CDSC ** | (6.75) | 8.03 | 12.03 | |
Without CDSC | (5.75) | 8.03 | 12.03 | |
Class I SHARES | March 1, 1991 | (5.04) | 8.83 | 12.70 |
Class R2 SHARES | November 3, 2008 | (5.50) | 8.29 | 12.19 |
Class R3 SHARES | October 1, 2018 | (5.26) | 8.56 | 12.48 |
Class R4 SHARES | October 1, 2018 | (4.95) | 8.85 | 12.71 |
Class R5 SHARES | May 15, 2006 | (4.84) | 9.01 | 12.91 |
Class R6 SHARES | November 30, 2010 | (4.78) | 9.11 | 12.99 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 21 |
(formerly known as JPMorgan Intrepid Value Fund)
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (3.84)% |
Russell 1000 Value Index | (6.82)% |
Net Assets as of 6/30/2022 (In Thousands) | $196,498 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | NextEra Energy, Inc. | 2.8% |
2. | Bristol-Myers Squibb Co. | 2.7 |
3. | ConocoPhillips | 2.6 |
4. | Prologis, Inc. | 2.3 |
5. | Verizon Communications, Inc. | 2.3 |
6. | Coca-Cola Co. (The) | 2.2 |
7. | Alphabet, Inc., Class C | 2.1 |
8. | Bank of America Corp. | 2.1 |
9. | Meta Platforms, Inc., Class A | 2.1 |
10. | Wells Fargo & Co. | 2.0 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Financials | 19.4% |
Health Care | 17.4 |
Industrials | 11.7 |
Communication Services | 8.3 |
Energy | 8.0 |
Consumer Staples | 7.4 |
Information Technology | 7.0 |
Utilities | 6.4 |
Consumer Discretionary | 5.9 |
Real Estate | 3.9 |
Materials | 3.1 |
Short-Term Investments | 1.5 |
22 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 19, 2005 | |||
With Sales Charge * | (9.12)% | 7.07% | 9.86% | |
Without Sales Charge | (4.07) | 8.23 | 10.45 | |
CLASS C SHARES | February 19, 2005 | |||
With CDSC ** | (5.54) | 7.70 | 10.02 | |
Without CDSC | (4.54) | 7.70 | 10.02 | |
Class I SHARES | February 28, 2003 | (3.84) | 8.48 | 10.67 |
Class R2 SHARES | November 3, 2008 | (4.41) | 7.92 | 10.16 |
Class R5 SHARES | May 15, 2006 | (3.79) | 8.63 | 10.85 |
Class R6 SHARES | November 30, 2010 | (3.70) | 8.73 | 10.93 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 23 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class L Shares) * | (9.63)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $18,606,909 |
Shares of Shopify, an internet retailing platform operator, fell amid weakness among e-commerce stocks and after the company reported lower-than-expected earnings and revenue for the first quarter of 2022. Shares of Snap, an online camera platform and social media provider, fell after the company reported lower-than-expected quarterly results and forecast weakness in cash flow and revenue in 2022. Shares of PPG Industries, a specialty chemicals manufacturer, amid investor concerns about rising materials costs and supply chain disruptions.
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 8.0% |
2. | Alphabet, Inc., Class A | 6.0 |
3. | Apple, Inc. | 4.7 |
4. | AbbVie, Inc. | 3.7 |
5. | Amazon.com, Inc. | 3.7 |
6. | NextEra Energy, Inc. | 3.2 |
7. | McDonald's Corp. | 3.2 |
8. | Prologis, Inc. | 3.0 |
9. | Bristol-Myers Squibb Co. | 2.9 |
10. | NXP Semiconductors NV (China) | 2.7 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 20.6% |
Health Care | 15.3 |
Consumer Discretionary | 12.8 |
Industrials | 12.2 |
Financials | 10.2 |
Communication Services | 9.4 |
Utilities | 4.8 |
Materials | 3.4 |
Energy | 3.0 |
Real Estate | 3.0 |
Consumer Staples | 2.1 |
Short-Term Investments | 3.2 |
24 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | September 10, 2001 | |||
With Sales Charge * | (14.76)% | 10.86% | 12.83% | |
Without Sales Charge | (10.04) | 12.06 | 13.44 | |
CLASS C SHARES | September 10, 2001 | |||
With CDSC ** | (11.44) | 11.52 | 12.98 | |
Without CDSC | (10.44) | 11.52 | 12.98 | |
Class I SHARES | September 10, 2001 | (9.83) | 12.34 | 13.68 |
Class L SHARES | September 17, 1993 | (9.63) | 12.52 | 13.85 |
Class R2 SHARES | November 3, 2008 | (10.28) | 11.78 | 13.15 |
Class R3 SHARES | September 9, 2016 | (10.04) | 12.07 | 13.43 |
Class R4 SHARES | September 9, 2016 | (9.80) | 12.34 | 13.68 |
Class R5 SHARES | May 15, 2006 | (9.68) | 12.52 | 13.88 |
Class R6 SHARES | November 30, 2010 | (9.56) | 12.64 | 13.97 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 25 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (17.25)% |
Russell 1000 Growth Index | (18.77)% |
Net Assets as of 6/30/2022 (In Thousands) | $976,149 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 10.4% |
2. | Apple, Inc. | 9.7 |
3. | Amazon.com, Inc. | 5.2 |
4. | Mastercard, Inc., Class A | 3.2 |
5. | Tesla, Inc. | 3.0 |
6. | Alphabet, Inc., Class A | 2.7 |
7. | UnitedHealth Group, Inc. | 2.7 |
8. | Alphabet, Inc., Class C | 2.6 |
9. | AbbVie, Inc. | 2.4 |
10. | Intuit, Inc. | 1.5 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 40.0% |
Consumer Discretionary | 16.3 |
Health Care | 13.1 |
Communication Services | 8.1 |
Industrials | 6.6 |
Consumer Staples | 4.7 |
Financials | 2.3 |
Real Estate | 2.1 |
Energy | 1.6 |
Materials | 1.2 |
Short-Term Investments | 4.0 |
26 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 19, 2005 | |||
With Sales Charge * | (21.80)% | 10.53% | 12.67% | |
Without Sales Charge | (17.46) | 11.72 | 13.28 | |
CLASS C SHARES | February 19, 2005 | |||
With CDSC ** | (18.87) | 11.17 | 12.83 | |
Without CDSC | (17.87) | 11.17 | 12.83 | |
Class I SHARES | February 28, 2003 | (17.25) | 12.00 | 13.56 |
Class R2 SHARES | November 3, 2008 | (17.66) | 11.44 | 13.00 |
Class R5 SHARES | May 15, 2006 | (17.12) | 12.17 | 13.76 |
Class R6 SHARES | November 2, 2015 | (17.03) | 12.29 | 13.83 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 27 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (12.70)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $1,637,070 |
TOP TEN LONG POSITIONS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 5.6% |
2. | Amazon.com, Inc. | 3.9 |
3. | Apple, Inc. | 3.6 |
4. | Mastercard, Inc., Class A | 3.5 |
5. | Alphabet, Inc., Class A | 3.1 |
6. | UnitedHealth Group, Inc. | 2.9 |
7. | NXP Semiconductors NV (China) | 2.4 |
8. | AbbVie, Inc. | 2.1 |
9. | Wells Fargo & Co. | 1.9 |
10. | Thermo Fisher Scientific, Inc. | 1.6 |
28 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TOP TEN SHORT POSITIONS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Intel Corp. | 4.2% |
2. | Enbridge, Inc. | 3.4 |
3. | Omnicom Group, Inc. | 3.3 |
4. | 3M Co. | 3.2 |
5. | Clorox Co. (The) | 2.3 |
6. | Paramount Global, Class B | 2.2 |
7. | Capital One Financial Corp. | 2.0 |
8. | General Electric Co. | 2.0 |
9. | Moderna, Inc. | 1.9 |
10. | CH Robinson Worldwide, Inc. | 1.8 |
LONG POSITION PORTFOLIO COMPOSITION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 23.9% |
Health Care | 16.5 |
Industrials | 12.8 |
Consumer Discretionary | 10.7 |
Financials | 8.2 |
Communication Services | 7.9 |
Consumer Staples | 6.1 |
Energy | 5.0 |
Utilities | 3.4 |
Materials | 2.7 |
Real Estate | 2.5 |
Short-Term Investments | 0.3 |
SHORT POSITION PORTFOLIO COMPOSITION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Industrials | 22.8% |
Information Technology | 16.1 |
Consumer Staples | 11.0 |
Communication Services | 9.4 |
Financials | 8.8 |
Energy | 7.2 |
Utilities | 6.5 |
Health Care | 6.2 |
Real Estate | 5.2 |
Consumer Discretionary | 4.6 |
Materials | 2.2 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 29 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | November 1, 2005 | |||
With Sales Charge * | (17.48)% | 9.66% | 12.28% | |
Without Sales Charge | (12.89) | 10.85 | 12.88 | |
CLASS C SHARES | November 1, 2005 | |||
With CDSC ** | (14.31) | 10.30 | 12.43 | |
Without CDSC | (13.31) | 10.30 | 12.43 | |
Class I SHARES | November 1, 2005 | (12.70) | 11.12 | 13.16 |
Class R2 SHARES | November 3, 2008 | (13.23) | 10.46 | 12.55 |
Class R5 SHARES | May 15, 2006 | (12.65) | 11.19 | 13.31 |
Class R6 SHARES | November 1, 2017 | (12.58) | 11.29 | 13.36 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
30 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (10.13)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $6,751,038 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 6.9% |
2. | Apple, Inc. | 6.6 |
3. | Amazon.com, Inc. | 3.2 |
4. | Alphabet, Inc., Class A | 2.6 |
5. | Alphabet, Inc., Class C | 2.0 |
6. | UnitedHealth Group, Inc. | 1.9 |
7. | Tesla, Inc. | 1.6 |
8. | Visa, Inc., Class A | 1.5 |
9. | Berkshire Hathaway, Inc., Class B | 1.5 |
10. | AbbVie, Inc. | 1.4 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 26.0% |
Health Care | 15.1 |
Consumer Discretionary | 11.1 |
Financials | 10.4 |
Communication Services | 8.5 |
Industrials | 8.2 |
Consumer Staples | 6.4 |
Energy | 4.2 |
Utilities | 3.0 |
Real Estate | 2.8 |
Materials | 2.5 |
Short-Term Investments | 1.8 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 31 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | September 28, 2001 | |||
With Sales Charge * | (15.07)% | 10.28% | 11.99% | |
Without Sales Charge | (10.33) | 11.48 | 12.60 | |
Class I SHARES | September 10, 2001 | (10.13) | 11.76 | 12.88 |
Class R6 SHARES | March 24, 2003 | (10.05) | 11.87 | 13.06 |
* | Sales Charge for Class A Shares is 5.25%. |
32 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (14.15)% |
S&P 500 Index | (10.62)% |
Net Assets as of 6/30/2022 (In Thousands) | $185,406 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 8.1% |
2. | Apple, Inc. | 5.6 |
3. | Alphabet, Inc., Class A | 3.8 |
4. | Mastercard, Inc., Class A | 3.4 |
5. | UnitedHealth Group, Inc. | 2.9 |
6. | Bristol-Myers Squibb Co. | 2.8 |
7. | Merck & Co., Inc. | 2.8 |
8. | Costco Wholesale Corp. | 2.6 |
9. | Thermo Fisher Scientific, Inc. | 2.5 |
10. | Bank of America Corp. | 2.5 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 26.9% |
Health Care | 18.6 |
Financials | 13.5 |
Industrials | 10.0 |
Consumer Discretionary | 7.8 |
Communication Services | 7.4 |
Consumer Staples | 4.6 |
Real Estate | 3.9 |
Utilities | 3.7 |
Materials | 2.1 |
Short-Term Investments | 1.5 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 33 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 19, 2005 | |||
With Sales Charge * | (18.85)% | 8.99% | 11.65% | |
Without Sales Charge | (14.36) | 10.17 | 12.25 | |
CLASS C SHARES | February 19, 2005 | |||
With CDSC ** | (15.77) | 9.62 | 11.80 | |
Without CDSC | (14.77) | 9.62 | 11.80 | |
Class I SHARES | February 28, 2003 | (14.15) | 10.44 | 12.53 |
Class R6 SHARES | September 30, 2020 | (14.09) | 10.46 | 12.54 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
34 | J.P. Morgan Large Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class A Shares, without a sales charge) * | (4.04)% |
Russell 1000 Value Index | (6.82)% |
Net Assets as of 6/30/2022 (In Thousands) | $2,814,328 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | UnitedHealth Group, Inc. | 2.6% |
2. | ConocoPhillips | 2.5 |
3. | Bristol-Myers Squibb Co. | 2.4 |
4. | Wells Fargo & Co. | 2.2 |
5. | Exxon Mobil Corp. | 2.1 |
6. | Johnson & Johnson | 1.9 |
7. | Raytheon Technologies Corp. | 1.8 |
8. | Berkshire Hathaway, Inc., Class B | 1.8 |
9. | BlackRock, Inc. | 1.7 |
10. | EOG Resources, Inc. | 1.7 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Financials | 23.9% |
Health Care | 19.4 |
Industrials | 12.0 |
Consumer Discretionary | 8.6 |
Energy | 7.6 |
Information Technology | 6.8 |
Consumer Staples | 5.8 |
Communication Services | 4.5 |
Materials | 3.7 |
Utilities | 3.6 |
Real Estate | 1.4 |
Short-Term Investments | 2.7 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 35 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | September 23, 1987 | |||
With Sales Charge * | (9.08)% | 8.36% | 11.13% | |
Without Sales Charge | (4.04) | 9.53 | 11.73 | |
CLASS C SHARES | January 2, 1998 | |||
With CDSC ** | (5.52) | 8.99 | 11.28 | |
Without CDSC | (4.52) | 8.99 | 11.28 | |
Class I SHARES | January 25, 1996 | (3.80) | 9.81 | 12.01 |
Class R2 SHARES | November 2, 2015 | (4.29) | 9.26 | 11.55 |
Class R3 SHARES | July 31, 2017 | (4.06) | 9.54 | 11.73 |
Class R4 SHARES | July 31, 2017 | (3.81) | 9.81 | 12.01 |
Class R5 SHARES | November 2, 2015 | (3.67) | 9.98 | 12.13 |
Class R6 SHARES | November 2, 2015 | (3.56) | 10.08 | 12.19 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
36 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 96.3% | ||
Air Freight & Logistics — 2.5% | ||
FedEx Corp. | 20 | 4,442 |
Automobiles — 2.7% | ||
Tesla, Inc. * | 7 | 4,908 |
Banks — 3.7% | ||
Bank of America Corp. | 214 | 6,665 |
Biotechnology — 4.6% | ||
AbbVie, Inc. | 31 | 4,798 |
Regeneron Pharmaceuticals, Inc. * | 6 | 3,529 |
8,327 | ||
Building Products — 1.2% | ||
Trane Technologies plc | 16 | 2,075 |
Construction & Engineering — 1.8% | ||
Quanta Services, Inc. | 26 | 3,218 |
Construction Materials — 2.6% | ||
Martin Marietta Materials, Inc. | 16 | 4,710 |
Consumer Finance — 3.1% | ||
Capital One Financial Corp. | 53 | 5,493 |
Containers & Packaging — 2.0% | ||
Packaging Corp. of America | 27 | 3,640 |
Diversified Financial Services — 3.2% | ||
Berkshire Hathaway, Inc., Class B * | 21 | 5,802 |
Electric Utilities — 2.2% | ||
Xcel Energy, Inc. | 57 | 4,002 |
Electronic Equipment, Instruments & Components — 0.9% | ||
Zebra Technologies Corp., Class A * | 5 | 1,576 |
Equity Real Estate Investment Trusts (REITs) — 4.6% | ||
Public Storage | 7 | 2,129 |
Weyerhaeuser Co. | 183 | 6,065 |
8,194 | ||
Health Care Equipment & Supplies — 2.5% | ||
Dexcom, Inc. * | 21 | 1,558 |
Intuitive Surgical, Inc. * | 14 | 2,910 |
4,468 | ||
Health Care Providers & Services — 3.8% | ||
UnitedHealth Group, Inc. | 13 | 6,833 |
Hotels, Restaurants & Leisure — 1.3% | ||
Booking Holdings, Inc. * | 1 | 2,424 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Household Products — 2.5% | ||
Procter & Gamble Co. (The) | 31 | 4,440 |
Insurance — 3.7% | ||
Loews Corp. | 112 | 6,628 |
Interactive Media & Services — 4.2% | ||
Alphabet, Inc., Class C * | 4 | 7,555 |
Internet & Direct Marketing Retail — 2.8% | ||
Amazon.com, Inc. * | 47 | 5,004 |
IT Services — 4.0% | ||
Global Payments, Inc. | 20 | 2,233 |
Mastercard, Inc., Class A | 16 | 5,012 |
7,245 | ||
Machinery — 2.5% | ||
Deere & Co. | 8 | 2,584 |
Ingersoll Rand, Inc. | 47 | 1,969 |
4,553 | ||
Media — 2.3% | ||
Charter Communications, Inc., Class A * | 9 | 4,075 |
Oil, Gas & Consumable Fuels — 4.9% | ||
ConocoPhillips | 52 | 4,690 |
Kinder Morgan, Inc. | 245 | 4,094 |
8,784 | ||
Pharmaceuticals — 2.4% | ||
Bristol-Myers Squibb Co. | 55 | 4,260 |
Semiconductors & Semiconductor Equipment — 4.9% | ||
Advanced Micro Devices, Inc. * | 35 | 2,646 |
QUALCOMM, Inc. | 21 | 2,723 |
SolarEdge Technologies, Inc. * | 13 | 3,506 |
8,875 | ||
Software — 7.1% | ||
Microsoft Corp. | 39 | 10,180 |
Zoom Video Communications, Inc., Class A * | 25 | 2,666 |
12,846 | ||
Specialty Retail — 5.0% | ||
AutoZone, Inc. * | 3 | 7,477 |
Best Buy Co., Inc. | 23 | 1,494 |
8,971 | ||
Technology Hardware, Storage & Peripherals — 5.6% | ||
Apple, Inc. | 74 | 10,119 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 37 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Wireless Telecommunication Services — 1.7% | ||
T-Mobile US, Inc. * | 23 | 3,124 |
Total Common Stocks (Cost $148,498) | 173,256 | |
Short Term Investments — 6.3% | ||
Investment Companies — 6.3% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) (Cost $11,340) | 11,339 | 11,341 |
Total Investments — 102.6% (Cost $159,838) | 184,597 | |
Liabilities in Excess of Other Assets — (2.6)% | (4,674) | |
NET ASSETS — 100.0% | 179,923 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
38 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 98.4% | ||
Aerospace & Defense — 5.5% | ||
General Dynamics Corp. | 3,686 | 815,545 |
Northrop Grumman Corp. | 1,159 | 554,737 |
Raytheon Technologies Corp. | 11,967 | 1,150,139 |
2,520,421 | ||
Air Freight & Logistics — 1.6% | ||
United Parcel Service, Inc., Class B | 4,087 | 746,004 |
Banks — 7.0% | ||
Bank of America Corp. | 27,292 | 849,594 |
Citigroup, Inc. | 9,117 | 419,315 |
PNC Financial Services Group, Inc. (The) | 4,494 | 709,020 |
Truist Financial Corp. | 7,966 | 377,808 |
US Bancorp | 8,538 | 392,903 |
Wells Fargo & Co. | 11,561 | 452,852 |
3,201,492 | ||
Beverages — 2.2% | ||
Coca-Cola Co. (The) | 8,791 | 553,042 |
PepsiCo, Inc. | 2,753 | 458,750 |
1,011,792 | ||
Biotechnology — 2.3% | ||
AbbVie, Inc. | 5,010 | 767,384 |
Amgen, Inc. | 1,115 | 271,125 |
1,038,509 | ||
Building Products — 0.1% | ||
Trane Technologies plc | 318 | 41,252 |
Capital Markets — 6.7% | ||
BlackRock, Inc. | 1,263 | 769,577 |
Charles Schwab Corp. (The) | 5,954 | 376,163 |
CME Group, Inc. | 3,559 | 728,512 |
Morgan Stanley | 9,717 | 739,048 |
Northern Trust Corp. | 1,907 | 183,969 |
T. Rowe Price Group, Inc. | 2,594 | 294,692 |
3,091,961 | ||
Chemicals — 2.8% | ||
Air Products and Chemicals, Inc. | 2,910 | 699,780 |
PPG Industries, Inc. | 5,286 | 604,422 |
1,304,202 | ||
Commercial Services & Supplies — 0.7% | ||
Republic Services, Inc. | 2,318 | 303,358 |
Consumer Finance — 2.0% | ||
American Express Co. | 3,717 | 515,194 |
Capital One Financial Corp. | 4,020 | 418,866 |
934,060 | ||
Diversified Telecommunication Services — 0.9% | ||
Verizon Communications, Inc. | 7,991 | 405,557 |
Electric Utilities — 2.7% | ||
NextEra Energy, Inc. | 9,549 | 739,689 |
Xcel Energy, Inc. | 7,395 | 523,265 |
1,262,954 | ||
Electrical Equipment — 1.0% | ||
Eaton Corp. plc | 3,601 | 453,692 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Electronic Equipment, Instruments & Components — 0.7% | ||
Corning, Inc. | 9,766 | 307,740 |
Equity Real Estate Investment Trusts (REITs) — 2.4% | ||
Alexandria Real Estate Equities, Inc. * | 1,119 | 162,222 |
AvalonBay Communities, Inc. | 1,176 | 228,412 |
Boston Properties, Inc. | 1,862 | 165,681 |
Prologis, Inc. | 2,960 | 348,276 |
Ventas, Inc. | 4,055 | 208,562 |
1,113,153 | ||
Food & Staples Retailing — 3.0% | ||
Sysco Corp. | 9,819 | 831,790 |
Walmart, Inc. | 4,595 | 558,613 |
1,390,403 | ||
Food Products — 1.4% | ||
Mondelez International, Inc., Class A | 10,184 | 632,342 |
Health Care Equipment & Supplies — 3.2% | ||
Abbott Laboratories | 3,808 | 413,764 |
Becton Dickinson and Co. | 1,795 | 442,396 |
Medtronic plc | 6,734 | 604,395 |
1,460,555 | ||
Health Care Providers & Services — 6.9% | ||
AmerisourceBergen Corp. | 2,753 | 389,489 |
Cigna Corp. | 1,907 | 502,690 |
CVS Health Corp. | 8,561 | 793,248 |
UnitedHealth Group, Inc. | 2,855 | 1,466,471 |
3,151,898 | ||
Hotels, Restaurants & Leisure — 2.2% | ||
McDonald's Corp. | 2,742 | 676,895 |
Starbucks Corp. | 4,477 | 342,026 |
1,018,921 | ||
Household Products — 1.3% | ||
Procter & Gamble Co. (The) | 4,145 | 596,047 |
Insurance — 4.9% | ||
Arthur J Gallagher & Co. | 2,339 | 381,275 |
Chubb Ltd. | 2,899 | 569,882 |
Hartford Financial Services Group, Inc. (The) | 5,417 | 354,453 |
Marsh & McLennan Cos., Inc. | 1,121 | 174,000 |
MetLife, Inc. | 6,768 | 424,964 |
Progressive Corp. (The) | 3,094 | 359,777 |
2,264,351 | ||
IT Services — 1.6% | ||
Accenture plc, Class A | 753 | 209,215 |
Fidelity National Information Services, Inc. | 1,380 | 126,474 |
International Business Machines Corp. | 2,980 | 420,733 |
756,422 | ||
Machinery — 3.4% | ||
Deere & Co. | 1,331 | 398,570 |
Dover Corp. | 5,049 | 612,518 |
Parker-Hannifin Corp. | 2,198 | 540,934 |
1,552,022 | ||
Media — 2.0% | ||
Comcast Corp., Class A | 23,644 | 927,801 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 39 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Multi-Utilities — 1.4% | ||
CMS Energy Corp. | 5,325 | 359,400 |
Dominion Energy, Inc. | 590 | 47,115 |
Public Service Enterprise Group, Inc. | 3,936 | 249,059 |
655,574 | ||
Oil, Gas & Consumable Fuels — 8.0% | ||
Chevron Corp. | 3,296 | 477,181 |
ConocoPhillips | 13,239 | 1,188,971 |
EOG Resources, Inc. | 7,353 | 812,109 |
Exxon Mobil Corp. | 12,900 | 1,104,715 |
Valero Energy Corp. | 719 | 76,424 |
3,659,400 | ||
Pharmaceuticals — 7.4% | ||
Bristol-Myers Squibb Co. | 16,604 | 1,278,527 |
Eli Lilly & Co. | 1,620 | 525,178 |
Johnson & Johnson | 5,580 | 990,610 |
Merck & Co., Inc. | 2,086 | 190,170 |
Pfizer, Inc. | 7,815 | 409,727 |
3,394,212 | ||
Road & Rail — 1.3% | ||
Norfolk Southern Corp. | 2,627 | 597,201 |
Semiconductors & Semiconductor Equipment — 4.0% | ||
Analog Devices, Inc. | 5,959 | 870,576 |
NXP Semiconductors NV (China) | 2,110 | 312,268 |
Texas Instruments, Inc. | 4,198 | 645,044 |
1,827,888 | ||
Software — 1.2% | ||
Microsoft Corp. | 2,090 | 536,726 |
Specialty Retail — 3.7% | ||
Advance Auto Parts, Inc. | 1,870 | 323,643 |
Best Buy Co., Inc. | 3,615 | 235,632 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Specialty Retail — continued | ||
Home Depot, Inc. (The) | 2,171 | 595,563 |
TJX Cos., Inc. (The) | 10,152 | 566,995 |
1,721,833 | ||
Technology Hardware, Storage & Peripherals — 0.9% | ||
Apple, Inc. | 1,175 | 160,682 |
Seagate Technology Holdings plc | 3,769 | 269,256 |
429,938 | ||
Tobacco — 2.0% | ||
Philip Morris International, Inc. | 9,572 | 945,095 |
Total Common Stocks (Cost $33,586,660) | 45,254,776 | |
Short Term Investments — 1.5% | ||
Investment Companies — 1.5% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) (Cost $667,488) | 667,379 | 667,513 |
Total Investments — 99.9% (Cost $34,254,148) | 45,922,289 | |
Other Assets Less Liabilities — 0.1% | 49,125 | |
NET ASSETS — 100.0% | 45,971,414 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
40 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 99.2% | ||
Aerospace & Defense — 1.7% | ||
Boeing Co. (The) * | 126 | 17,164 |
General Dynamics Corp. | 52 | 11,512 |
Howmet Aerospace, Inc. | 85 | 2,670 |
Huntington Ingalls Industries, Inc. | 9 | 1,969 |
L3Harris Technologies, Inc. | 43 | 10,524 |
Lockheed Martin Corp. | 53 | 22,987 |
Northrop Grumman Corp. | 33 | 15,786 |
Raytheon Technologies Corp. | 336 | 32,267 |
Textron, Inc. | 49 | 2,965 |
TransDigm Group, Inc. * | 12 | 6,282 |
124,126 | ||
Air Freight & Logistics — 0.7% | ||
CH Robinson Worldwide, Inc. | 28 | 2,912 |
Expeditors International of Washington, Inc. | 38 | 3,691 |
FedEx Corp. | 54 | 12,203 |
United Parcel Service, Inc., Class B | 166 | 30,264 |
49,070 | ||
Airlines — 0.2% | ||
Alaska Air Group, Inc. * | 28 | 1,140 |
American Airlines Group, Inc. * | 146 | 1,859 |
Delta Air Lines, Inc. * | 145 | 4,192 |
Southwest Airlines Co. * | 134 | 4,835 |
United Airlines Holdings, Inc. * | 74 | 2,613 |
14,639 | ||
Auto Components — 0.1% | ||
Aptiv plc * | 61 | 5,447 |
BorgWarner, Inc. | 54 | 1,805 |
7,252 | ||
Automobiles — 2.0% | ||
Ford Motor Co. | 891 | 9,922 |
General Motors Co. * | 329 | 10,453 |
Tesla, Inc. * | 190 | 127,569 |
147,944 | ||
Banks — 3.7% | ||
Bank of America Corp. | 1,601 | 49,824 |
Citigroup, Inc. | 438 | 20,161 |
Citizens Financial Group, Inc. | 111 | 3,952 |
Comerica, Inc. | 30 | 2,166 |
Fifth Third Bancorp | 155 | 5,204 |
First Republic Bank | 41 | 5,842 |
Huntington Bancshares, Inc. | 325 | 3,908 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Banks — continued | ||
JPMorgan Chase & Co. (a) | 663 | 74,662 |
KeyCorp | 210 | 3,627 |
M&T Bank Corp. | 40 | 6,456 |
PNC Financial Services Group, Inc. (The) | 93 | 14,730 |
Regions Financial Corp. | 211 | 3,955 |
Signature Bank | 14 | 2,546 |
SVB Financial Group * | 13 | 5,247 |
Truist Financial Corp. | 301 | 14,255 |
US Bancorp | 305 | 14,046 |
Wells Fargo & Co. | 856 | 33,515 |
Zions Bancorp NA | 34 | 1,739 |
265,835 | ||
Beverages — 1.9% | ||
Brown-Forman Corp., Class B | 41 | 2,895 |
Coca-Cola Co. (The) | 881 | 55,407 |
Constellation Brands, Inc., Class A | 37 | 8,563 |
Keurig Dr Pepper, Inc. | 167 | 5,893 |
Molson Coors Beverage Co., Class B | 42 | 2,317 |
Monster Beverage Corp. * | 85 | 7,870 |
PepsiCo, Inc. | 312 | 52,019 |
134,964 | ||
Biotechnology — 2.2% | ||
AbbVie, Inc. | 399 | 61,097 |
Amgen, Inc. | 121 | 29,340 |
Biogen, Inc. * | 33 | 6,742 |
Gilead Sciences, Inc. | 283 | 17,502 |
Incyte Corp. * | 42 | 3,229 |
Moderna, Inc. * | 78 | 11,159 |
Regeneron Pharmaceuticals, Inc. * | 24 | 14,415 |
Vertex Pharmaceuticals, Inc. * | 58 | 16,269 |
159,753 | ||
Building Products — 0.4% | ||
Allegion plc | 20 | 1,941 |
AO Smith Corp. | 29 | 1,605 |
Carrier Global Corp. | 191 | 6,828 |
Fortune Brands Home & Security, Inc. | 30 | 1,768 |
Johnson Controls International plc | 157 | 7,519 |
Masco Corp. | 53 | 2,695 |
Trane Technologies plc | 53 | 6,856 |
29,212 | ||
Capital Markets — 2.9% | ||
Ameriprise Financial, Inc. | 25 | 5,897 |
June 30, 2022 | J.P. Morgan Equity Funds | 41 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Capital Markets — continued | ||
Bank of New York Mellon Corp. (The) | 168 | 6,998 |
BlackRock, Inc. | 32 | 19,580 |
Cboe Global Markets, Inc. | 24 | 2,713 |
Charles Schwab Corp. (The) | 340 | 21,510 |
CME Group, Inc. | 81 | 16,608 |
FactSet Research Systems, Inc. | 9 | 3,290 |
Franklin Resources, Inc. | 63 | 1,473 |
Goldman Sachs Group, Inc. (The) | 78 | 23,028 |
Intercontinental Exchange, Inc. | 126 | 11,851 |
Invesco Ltd. | 76 | 1,226 |
MarketAxess Holdings, Inc. | 9 | 2,181 |
Moody's Corp. | 36 | 9,855 |
Morgan Stanley | 316 | 24,028 |
MSCI, Inc. | 18 | 7,548 |
Nasdaq, Inc. | 26 | 3,969 |
Northern Trust Corp. | 47 | 4,539 |
Raymond James Financial, Inc. | 44 | 3,924 |
S&P Global, Inc. | 78 | 26,410 |
State Street Corp. | 83 | 5,109 |
T. Rowe Price Group, Inc. | 51 | 5,829 |
207,566 | ||
Chemicals — 1.8% | ||
Air Products and Chemicals, Inc. | 50 | 12,039 |
Albemarle Corp. | 27 | 5,525 |
Celanese Corp. | 25 | 2,876 |
CF Industries Holdings, Inc. | 47 | 4,037 |
Corteva, Inc. | 163 | 8,845 |
Dow, Inc. | 164 | 8,483 |
DuPont de Nemours, Inc. | 115 | 6,380 |
Eastman Chemical Co. | 29 | 2,612 |
Ecolab, Inc. | 56 | 8,626 |
FMC Corp. | 28 | 3,042 |
International Flavors & Fragrances, Inc. | 58 | 6,853 |
Linde plc (United Kingdom) | 114 | 32,667 |
LyondellBasell Industries NV, Class A | 58 | 5,110 |
Mosaic Co. (The) | 82 | 3,859 |
PPG Industries, Inc. | 53 | 6,096 |
Sherwin-Williams Co. (The) | 54 | 12,096 |
129,146 | ||
Commercial Services & Supplies — 0.5% | ||
Cintas Corp. | 20 | 7,334 |
Copart, Inc. * | 48 | 5,243 |
Republic Services, Inc. | 47 | 6,159 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Commercial Services & Supplies — continued | ||
Rollins, Inc. | 51 | 1,786 |
Waste Management, Inc. | 86 | 13,192 |
33,714 | ||
Communications Equipment — 0.8% | ||
Arista Networks, Inc. * | 51 | 4,762 |
Cisco Systems, Inc. | 938 | 39,986 |
F5, Inc. * | 13 | 2,089 |
Juniper Networks, Inc. | 73 | 2,079 |
Motorola Solutions, Inc. | 38 | 7,916 |
56,832 | ||
Construction & Engineering — 0.1% | ||
Quanta Services, Inc. | 32 | 4,066 |
Construction Materials — 0.1% | ||
Martin Marietta Materials, Inc. | 14 | 4,213 |
Vulcan Materials Co. | 30 | 4,263 |
8,476 | ||
Consumer Finance — 0.5% | ||
American Express Co. | 138 | 19,087 |
Capital One Financial Corp. | 89 | 9,245 |
Discover Financial Services | 63 | 5,999 |
Synchrony Financial | 113 | 3,127 |
37,458 | ||
Containers & Packaging — 0.3% | ||
Amcor plc | 339 | 4,217 |
Avery Dennison Corp. | 18 | 2,986 |
Ball Corp. | 72 | 4,965 |
International Paper Co. | 84 | 3,500 |
Packaging Corp. of America | 21 | 2,908 |
Sealed Air Corp. | 33 | 1,903 |
Westrock Co. | 58 | 2,292 |
22,771 | ||
Distributors — 0.1% | ||
Genuine Parts Co. | 32 | 4,251 |
LKQ Corp. | 59 | 2,884 |
Pool Corp. | 9 | 3,177 |
10,312 | ||
Diversified Financial Services — 1.5% | ||
Berkshire Hathaway, Inc., Class B * | 408 | 111,503 |
Diversified Telecommunication Services — 1.2% | ||
AT&T, Inc. | 1,616 | 33,873 |
42 | J.P. Morgan Equity Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Diversified Telecommunication Services — continued | ||
Lumen Technologies, Inc. | 210 | 2,290 |
Verizon Communications, Inc. | 948 | 48,112 |
84,275 | ||
Electric Utilities — 1.9% | ||
Alliant Energy Corp. | 57 | 3,319 |
American Electric Power Co., Inc. | 116 | 11,122 |
Constellation Energy Corp. | 74 | 4,223 |
Duke Energy Corp. | 174 | 18,633 |
Edison International | 86 | 5,442 |
Entergy Corp. | 46 | 5,171 |
Evergy, Inc. | 52 | 3,380 |
Eversource Energy | 78 | 6,576 |
Exelon Corp. | 221 | 10,028 |
FirstEnergy Corp. | 129 | 4,948 |
NextEra Energy, Inc. | 443 | 34,351 |
NRG Energy, Inc. | 53 | 2,045 |
Pinnacle West Capital Corp. | 25 | 1,865 |
PPL Corp. | 166 | 4,507 |
Southern Co. (The) | 240 | 17,104 |
Xcel Energy, Inc. | 123 | 8,700 |
141,414 | ||
Electrical Equipment — 0.5% | ||
AMETEK, Inc. | 52 | 5,728 |
Eaton Corp. plc | 90 | 11,348 |
Emerson Electric Co. | 134 | 10,666 |
Generac Holdings, Inc. * | 15 | 3,034 |
Rockwell Automation, Inc. | 26 | 5,231 |
36,007 | ||
Electronic Equipment, Instruments & Components — 0.6% | ||
Amphenol Corp., Class A | 135 | 8,678 |
CDW Corp. | 30 | 4,806 |
Corning, Inc. | 172 | 5,407 |
Keysight Technologies, Inc. * | 41 | 5,663 |
TE Connectivity Ltd. (Switzerland) | 73 | 8,229 |
Teledyne Technologies, Inc. * | 11 | 3,966 |
Trimble, Inc. * | 56 | 3,288 |
Zebra Technologies Corp., Class A * | 12 | 3,485 |
43,522 | ||
Energy Equipment & Services — 0.3% | ||
Baker Hughes Co. | 211 | 6,096 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Energy Equipment & Services — continued | ||
Halliburton Co. | 204 | 6,385 |
Schlumberger NV | 319 | 11,410 |
23,891 | ||
Entertainment — 1.3% | ||
Activision Blizzard, Inc. | 177 | 13,742 |
Electronic Arts, Inc. | 63 | 7,723 |
Live Nation Entertainment, Inc. * | 31 | 2,553 |
Netflix, Inc. * | 100 | 17,538 |
Take-Two Interactive Software, Inc. * | 36 | 4,373 |
Walt Disney Co. (The) * | 411 | 38,816 |
Warner Bros Discovery, Inc. * | 499 | 6,690 |
91,435 | ||
Equity Real Estate Investment Trusts (REITs) — 2.8% | ||
Alexandria Real Estate Equities, Inc. * | 34 | 4,863 |
American Tower Corp. | 105 | 26,812 |
AvalonBay Communities, Inc. | 32 | 6,131 |
Boston Properties, Inc. | 32 | 2,864 |
Camden Property Trust | 24 | 3,234 |
Crown Castle International Corp. | 98 | 16,460 |
Digital Realty Trust, Inc. | 64 | 8,343 |
Duke Realty Corp. | 87 | 4,769 |
Equinix, Inc. | 21 | 13,500 |
Equity Residential | 77 | 5,579 |
Essex Property Trust, Inc. | 15 | 3,857 |
Extra Space Storage, Inc. | 30 | 5,157 |
Federal Realty OP LP | 16 | 1,545 |
Healthpeak Properties, Inc. | 122 | 3,156 |
Host Hotels & Resorts, Inc. | 161 | 2,530 |
Iron Mountain, Inc. | 66 | 3,194 |
Kimco Realty Corp. | 140 | 2,758 |
Mid-America Apartment Communities, Inc. | 26 | 4,551 |
Prologis, Inc. | 167 | 19,660 |
Public Storage | 34 | 10,779 |
Realty Income Corp. | 136 | 9,270 |
Regency Centers Corp. | 35 | 2,077 |
SBA Communications Corp. | 24 | 7,790 |
Simon Property Group, Inc. | 74 | 7,035 |
UDR, Inc. | 68 | 3,111 |
Ventas, Inc. | 90 | 4,640 |
VICI Properties, Inc. (b) | 217 | 6,476 |
Vornado Realty Trust | 36 | 1,027 |
June 30, 2022 | J.P. Morgan Equity Funds | 43 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
Welltower, Inc. | 102 | 8,439 |
Weyerhaeuser Co. | 168 | 5,566 |
205,173 | ||
Food & Staples Retailing — 1.5% | ||
Costco Wholesale Corp. | 100 | 47,954 |
Kroger Co. (The) | 148 | 7,009 |
Sysco Corp. | 115 | 9,743 |
Walgreens Boots Alliance, Inc. | 162 | 6,134 |
Walmart, Inc. | 317 | 38,531 |
109,371 | ||
Food Products — 1.1% | ||
Archer-Daniels-Midland Co. | 127 | 9,857 |
Campbell Soup Co. | 46 | 2,193 |
Conagra Brands, Inc. | 108 | 3,709 |
General Mills, Inc. | 136 | 10,257 |
Hershey Co. (The) | 33 | 7,091 |
Hormel Foods Corp. (b) | 64 | 3,030 |
JM Smucker Co. (The) | 24 | 3,134 |
Kellogg Co. | 57 | 4,081 |
Kraft Heinz Co. (The) | 160 | 6,112 |
Lamb Weston Holdings, Inc. | 33 | 2,330 |
McCormick & Co., Inc. (Non-Voting) | 57 | 4,702 |
Mondelez International, Inc., Class A | 312 | 19,397 |
Tyson Foods, Inc., Class A | 66 | 5,664 |
81,557 | ||
Gas Utilities — 0.0% ^ | ||
Atmos Energy Corp. | 31 | 3,518 |
Health Care Equipment & Supplies — 2.7% | ||
Abbott Laboratories | 395 | 42,945 |
ABIOMED, Inc. * | 10 | 2,546 |
Align Technology, Inc. * | 16 | 3,915 |
Baxter International, Inc. | 114 | 7,301 |
Becton Dickinson and Co. | 64 | 15,864 |
Boston Scientific Corp. * | 323 | 12,027 |
Cooper Cos., Inc. (The) | 11 | 3,485 |
Dentsply Sirona, Inc. | 49 | 1,738 |
Dexcom, Inc. * | 89 | 6,604 |
Edwards Lifesciences Corp. * | 140 | 13,346 |
Hologic, Inc. * | 56 | 3,901 |
IDEXX Laboratories, Inc. * | 19 | 6,651 |
Intuitive Surgical, Inc. * | 81 | 16,264 |
Medtronic plc | 303 | 27,180 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Health Care Equipment & Supplies — continued | ||
ResMed, Inc. | 33 | 6,923 |
STERIS plc | 23 | 4,660 |
Stryker Corp. | 76 | 15,114 |
Teleflex, Inc. | 11 | 2,603 |
Zimmer Biomet Holdings, Inc. | 47 | 4,970 |
198,037 | ||
Health Care Providers & Services — 3.5% | ||
AmerisourceBergen Corp. | 34 | 4,817 |
Cardinal Health, Inc. | 62 | 3,214 |
Centene Corp. * | 132 | 11,171 |
Cigna Corp. | 72 | 18,874 |
CVS Health Corp. | 296 | 27,429 |
DaVita, Inc. * | 14 | 1,093 |
Elevance Health, Inc. | 54 | 26,263 |
HCA Healthcare, Inc. | 51 | 8,632 |
Henry Schein, Inc. * | 31 | 2,391 |
Humana, Inc. | 29 | 13,366 |
Laboratory Corp. of America Holdings | 21 | 4,904 |
McKesson Corp. | 33 | 10,705 |
Molina Healthcare, Inc. * | 13 | 3,705 |
Quest Diagnostics, Inc. | 26 | 3,523 |
UnitedHealth Group, Inc. | 212 | 108,779 |
Universal Health Services, Inc., Class B | 15 | 1,526 |
250,392 | ||
Hotels, Restaurants & Leisure — 1.8% | ||
Booking Holdings, Inc. * | 9 | 16,038 |
Caesars Entertainment, Inc. * | 48 | 1,853 |
Carnival Corp. * (b) | 183 | 1,585 |
Chipotle Mexican Grill, Inc. * | 6 | 8,251 |
Darden Restaurants, Inc. | 28 | 3,185 |
Domino's Pizza, Inc. | 8 | 3,171 |
Expedia Group, Inc. * | 34 | 3,245 |
Hilton Worldwide Holdings, Inc. | 63 | 7,002 |
Las Vegas Sands Corp. * | 78 | 2,607 |
Marriott International, Inc., Class A | 62 | 8,441 |
McDonald's Corp. | 167 | 41,216 |
MGM Resorts International | 80 | 2,311 |
Norwegian Cruise Line Holdings Ltd. * (b) | 95 | 1,052 |
Penn National Gaming, Inc. * | 37 | 1,123 |
Royal Caribbean Cruises Ltd. * | 51 | 1,768 |
Starbucks Corp. | 259 | 19,778 |
44 | J.P. Morgan Equity Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Hotels, Restaurants & Leisure — continued | ||
Wynn Resorts Ltd. * | 24 | 1,357 |
Yum! Brands, Inc. | 64 | 7,307 |
131,290 | ||
Household Durables — 0.3% | ||
DR Horton, Inc. | 72 | 4,786 |
Garmin Ltd. | 34 | 3,384 |
Lennar Corp., Class A | 58 | 4,120 |
Mohawk Industries, Inc. * | 12 | 1,441 |
Newell Brands, Inc. | 83 | 1,582 |
NVR, Inc. * | 1 | 2,795 |
PulteGroup, Inc. | 54 | 2,126 |
Whirlpool Corp. (b) | 13 | 1,965 |
22,199 | ||
Household Products — 1.5% | ||
Church & Dwight Co., Inc. | 55 | 5,078 |
Clorox Co. (The) | 28 | 3,917 |
Colgate-Palmolive Co. | 189 | 15,159 |
Kimberly-Clark Corp. | 76 | 10,279 |
Procter & Gamble Co. (The) | 541 | 77,880 |
112,313 | ||
Independent Power and Renewable Electricity Producers — 0.0% ^ | ||
AES Corp. (The) | 151 | 3,168 |
Industrial Conglomerates — 0.8% | ||
3M Co. | 128 | 16,624 |
General Electric Co. | 249 | 15,820 |
Honeywell International, Inc. | 154 | 26,709 |
59,153 | ||
Insurance — 2.2% | ||
Aflac, Inc. | 134 | 7,402 |
Allstate Corp. (The) | 62 | 7,867 |
American International Group, Inc. | 179 | 9,144 |
Aon plc, Class A | 48 | 12,930 |
Arthur J Gallagher & Co. | 47 | 7,732 |
Assurant, Inc. | 12 | 2,110 |
Brown & Brown, Inc. | 53 | 3,085 |
Chubb Ltd. | 96 | 18,803 |
Cincinnati Financial Corp. | 34 | 4,005 |
Everest Re Group Ltd. | 9 | 2,495 |
Globe Life, Inc. | 20 | 1,996 |
Hartford Financial Services Group, Inc. (The) | 74 | 4,857 |
Lincoln National Corp. | 37 | 1,706 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Insurance — continued | ||
Loews Corp. | 44 | 2,601 |
Marsh & McLennan Cos., Inc. | 113 | 17,590 |
MetLife, Inc. | 156 | 9,798 |
Principal Financial Group, Inc. | 53 | 3,543 |
Progressive Corp. (The) | 132 | 15,351 |
Prudential Financial, Inc. | 85 | 8,100 |
Travelers Cos., Inc. (The) | 54 | 9,162 |
Willis Towers Watson plc | 25 | 4,968 |
WR Berkley Corp. | 47 | 3,228 |
158,473 | ||
Interactive Media & Services — 5.2% | ||
Alphabet, Inc., Class A * | 68 | 147,961 |
Alphabet, Inc., Class C * | 62 | 136,175 |
Match Group, Inc. * | 65 | 4,493 |
Meta Platforms, Inc., Class A * | 518 | 83,486 |
Twitter, Inc. * | 172 | 6,438 |
378,553 | ||
Internet & Direct Marketing Retail — 3.0% | ||
Amazon.com, Inc. * | 1,975 | 209,789 |
eBay, Inc. | 126 | 5,266 |
Etsy, Inc. * | 29 | 2,101 |
217,156 | ||
IT Services — 4.3% | ||
Accenture plc, Class A | 143 | 39,700 |
Akamai Technologies, Inc. * | 36 | 3,305 |
Automatic Data Processing, Inc. | 94 | 19,807 |
Broadridge Financial Solutions, Inc. | 26 | 3,772 |
Cognizant Technology Solutions Corp., Class A | 118 | 7,940 |
DXC Technology Co. * | 55 | 1,673 |
EPAM Systems, Inc. * | 13 | 3,803 |
Fidelity National Information Services, Inc. | 138 | 12,639 |
Fiserv, Inc. * | 131 | 11,684 |
FleetCor Technologies, Inc. * | 17 | 3,668 |
Gartner, Inc. * | 18 | 4,397 |
Global Payments, Inc. | 64 | 7,032 |
International Business Machines Corp. | 203 | 28,667 |
Jack Henry & Associates, Inc. | 16 | 2,961 |
Mastercard, Inc., Class A | 194 | 61,160 |
Paychex, Inc. | 73 | 8,259 |
PayPal Holdings, Inc. * | 261 | 18,257 |
June 30, 2022 | J.P. Morgan Equity Funds | 45 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
IT Services — continued | ||
VeriSign, Inc. * | 22 | 3,600 |
Visa, Inc., Class A | 372 | 73,146 |
315,470 | ||
Leisure Products — 0.0% ^ | ||
Hasbro, Inc. | 30 | 2,423 |
Life Sciences Tools & Services — 1.9% | ||
Agilent Technologies, Inc. | 68 | 8,046 |
Bio-Rad Laboratories, Inc., Class A * | 5 | 2,419 |
Bio-Techne Corp. | 9 | 3,070 |
Charles River Laboratories International, Inc. * | 11 | 2,454 |
Danaher Corp. | 146 | 37,033 |
Illumina, Inc. * | 35 | 6,538 |
IQVIA Holdings, Inc. * | 43 | 9,272 |
Mettler-Toledo International, Inc. * | 5 | 5,882 |
PerkinElmer, Inc. | 29 | 4,050 |
Thermo Fisher Scientific, Inc. | 88 | 48,009 |
Waters Corp. * | 14 | 4,501 |
West Pharmaceutical Services, Inc. | 17 | 5,056 |
136,330 | ||
Machinery — 1.5% | ||
Caterpillar, Inc. | 120 | 21,524 |
Cummins, Inc. | 32 | 6,164 |
Deere & Co. | 63 | 18,873 |
Dover Corp. | 33 | 3,948 |
Fortive Corp. | 81 | 4,400 |
IDEX Corp. | 17 | 3,116 |
Illinois Tool Works, Inc. | 64 | 11,660 |
Ingersoll Rand, Inc. | 92 | 3,856 |
Nordson Corp. | 12 | 2,463 |
Otis Worldwide Corp. | 95 | 6,745 |
PACCAR, Inc. | 79 | 6,463 |
Parker-Hannifin Corp. | 29 | 7,130 |
Pentair plc | 37 | 1,709 |
Snap-on, Inc. | 12 | 2,374 |
Stanley Black & Decker, Inc. | 34 | 3,574 |
Westinghouse Air Brake Technologies Corp. | 41 | 3,384 |
Xylem, Inc. | 41 | 3,178 |
110,561 | ||
Media — 0.9% | ||
Charter Communications, Inc., Class A * | 26 | 12,250 |
Comcast Corp., Class A | 1,009 | 39,601 |
DISH Network Corp., Class A * | 57 | 1,015 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Media — continued | ||
Fox Corp., Class A | 70 | 2,263 |
Fox Corp., Class B | 33 | 969 |
Interpublic Group of Cos., Inc. (The) | 89 | 2,446 |
News Corp., Class A | 88 | 1,366 |
News Corp., Class B | 27 | 432 |
Omnicom Group, Inc. | 46 | 2,954 |
Paramount Global, Class B | 137 | 3,390 |
66,686 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 327 | 9,573 |
Newmont Corp. | 179 | 10,690 |
Nucor Corp. | 60 | 6,271 |
26,534 | ||
Multiline Retail — 0.5% | ||
Dollar General Corp. | 52 | 12,676 |
Dollar Tree, Inc. * | 51 | 7,920 |
Target Corp. | 104 | 14,742 |
35,338 | ||
Multi-Utilities — 1.0% | ||
Ameren Corp. | 58 | 5,267 |
CenterPoint Energy, Inc. | 142 | 4,203 |
CMS Energy Corp. | 65 | 4,421 |
Consolidated Edison, Inc. | 80 | 7,606 |
Dominion Energy, Inc. | 183 | 14,616 |
DTE Energy Co. | 44 | 5,543 |
NiSource, Inc. | 92 | 2,702 |
Public Service Enterprise Group, Inc. | 113 | 7,132 |
Sempra Energy | 71 | 10,662 |
WEC Energy Group, Inc. | 71 | 7,166 |
69,318 | ||
Oil, Gas & Consumable Fuels — 4.0% | ||
APA Corp. | 76 | 2,665 |
Chevron Corp. | 443 | 64,216 |
ConocoPhillips | 292 | 26,223 |
Coterra Energy, Inc. | 182 | 4,691 |
Devon Energy Corp. | 139 | 7,636 |
Diamondback Energy, Inc. | 38 | 4,563 |
EOG Resources, Inc. | 132 | 14,602 |
Exxon Mobil Corp. | 951 | 81,439 |
Hess Corp. | 62 | 6,625 |
Kinder Morgan, Inc. | 440 | 7,378 |
Marathon Oil Corp. | 160 | 3,591 |
46 | J.P. Morgan Equity Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
Marathon Petroleum Corp. | 122 | 10,040 |
Occidental Petroleum Corp. | 201 | 11,834 |
ONEOK, Inc. | 101 | 5,596 |
Phillips 66 | 109 | 8,904 |
Pioneer Natural Resources Co. | 51 | 11,332 |
Valero Energy Corp. | 92 | 9,791 |
Williams Cos., Inc. (The) | 275 | 8,581 |
289,707 | ||
Personal Products — 0.2% | ||
Estee Lauder Cos., Inc. (The), Class A | 52 | 13,326 |
Pharmaceuticals — 4.8% | ||
Bristol-Myers Squibb Co. | 481 | 37,007 |
Catalent, Inc. * | 40 | 4,340 |
Eli Lilly & Co. | 178 | 57,722 |
Johnson & Johnson | 594 | 105,444 |
Merck & Co., Inc. | 571 | 52,045 |
Organon & Co. | 57 | 1,932 |
Pfizer, Inc. | 1,267 | 66,408 |
Viatris, Inc. | 274 | 2,865 |
Zoetis, Inc. | 106 | 18,262 |
346,025 | ||
Professional Services — 0.3% | ||
Equifax, Inc. | 27 | 5,048 |
Jacobs Engineering Group, Inc. | 29 | 3,691 |
Leidos Holdings, Inc. | 31 | 3,107 |
Nielsen Holdings plc | 81 | 1,885 |
Robert Half International, Inc. | 25 | 1,868 |
Verisk Analytics, Inc. | 36 | 6,170 |
21,769 | ||
Real Estate Management & Development — 0.1% | ||
CBRE Group, Inc., Class A * | 74 | 5,431 |
Road & Rail — 0.9% | ||
CSX Corp. | 491 | 14,263 |
JB Hunt Transport Services, Inc. | 19 | 2,980 |
Norfolk Southern Corp. | 54 | 12,229 |
Old Dominion Freight Line, Inc. | 20 | 5,312 |
Union Pacific Corp. | 142 | 30,237 |
65,021 | ||
Semiconductors & Semiconductor Equipment — 5.2% | ||
Advanced Micro Devices, Inc. * | 366 | 27,974 |
Analog Devices, Inc. | 118 | 17,258 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Semiconductors & Semiconductor Equipment — continued | ||
Applied Materials, Inc. | 199 | 18,143 |
Broadcom, Inc. | 92 | 44,775 |
Enphase Energy, Inc. * | 31 | 5,951 |
Intel Corp. | 923 | 34,531 |
KLA Corp. | 34 | 10,749 |
Lam Research Corp. | 31 | 13,344 |
Microchip Technology, Inc. | 126 | 7,290 |
Micron Technology, Inc. | 252 | 13,935 |
Monolithic Power Systems, Inc. | 10 | 3,801 |
NVIDIA Corp. | 565 | 85,688 |
NXP Semiconductors NV (China) | 59 | 8,774 |
ON Semiconductor Corp. * | 98 | 4,935 |
Qorvo, Inc. * | 25 | 2,309 |
QUALCOMM, Inc. | 253 | 32,297 |
Skyworks Solutions, Inc. | 36 | 3,365 |
SolarEdge Technologies, Inc. * | 13 | 3,422 |
Teradyne, Inc. | 36 | 3,238 |
Texas Instruments, Inc. | 208 | 31,984 |
373,763 | ||
Software — 8.9% | ||
Adobe, Inc. * | 107 | 39,045 |
ANSYS, Inc. * | 20 | 4,699 |
Autodesk, Inc. * | 49 | 8,444 |
Cadence Design Systems, Inc. * | 62 | 9,339 |
Ceridian HCM Holding, Inc. * | 31 | 1,460 |
Citrix Systems, Inc. | 28 | 2,736 |
Fortinet, Inc. * | 151 | 8,509 |
Intuit, Inc. | 64 | 24,607 |
Microsoft Corp. | 1,688 | 433,613 |
NortonLifeLock, Inc. | 131 | 2,885 |
Oracle Corp. | 355 | 24,829 |
Paycom Software, Inc. * | 11 | 3,045 |
PTC, Inc. * | 24 | 2,527 |
Roper Technologies, Inc. | 24 | 9,436 |
Salesforce, Inc. * | 224 | 37,015 |
ServiceNow, Inc. * | 45 | 21,518 |
Synopsys, Inc. * | 35 | 10,496 |
Tyler Technologies, Inc. * | 9 | 3,113 |
647,316 | ||
Specialty Retail — 2.1% | ||
Advance Auto Parts, Inc. | 14 | 2,387 |
AutoZone, Inc. * | 5 | 9,630 |
Bath & Body Works, Inc. | 54 | 1,449 |
June 30, 2022 | J.P. Morgan Equity Funds | 47 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Specialty Retail — continued | ||
Best Buy Co., Inc. | 46 | 2,980 |
CarMax, Inc. * | 36 | 3,279 |
Home Depot, Inc. (The) | 233 | 63,980 |
Lowe's Cos., Inc. | 149 | 26,068 |
O'Reilly Automotive, Inc. * | 15 | 9,373 |
Ross Stores, Inc. | 79 | 5,571 |
TJX Cos., Inc. (The) | 265 | 14,807 |
Tractor Supply Co. | 25 | 4,896 |
Ulta Beauty, Inc. * | 12 | 4,545 |
148,965 | ||
Technology Hardware, Storage & Peripherals — 6.8% | ||
Apple, Inc. | 3,471 | 474,552 |
Hewlett Packard Enterprise Co. | 293 | 3,892 |
HP, Inc. | 238 | 7,795 |
NetApp, Inc. | 50 | 3,277 |
Seagate Technology Holdings plc | 45 | 3,188 |
Western Digital Corp. * | 71 | 3,169 |
495,873 | ||
Textiles, Apparel & Luxury Goods — 0.5% | ||
NIKE, Inc., Class B | 286 | 29,271 |
PVH Corp. | 15 | 867 |
Ralph Lauren Corp. | 11 | 937 |
Tapestry, Inc. | 57 | 1,735 |
VF Corp. | 73 | 3,219 |
36,029 | ||
Tobacco — 0.7% | ||
Altria Group, Inc. | 409 | 17,072 |
Philip Morris International, Inc. | 350 | 34,552 |
51,624 | ||
Trading Companies & Distributors — 0.2% | ||
Fastenal Co. | 130 | 6,487 |
United Rentals, Inc. * | 16 | 3,927 |
WW Grainger, Inc. | 10 | 4,403 |
14,817 | ||
Water Utilities — 0.1% | ||
American Water Works Co., Inc. | 41 | 6,104 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Wireless Telecommunication Services — 0.2% | ||
T-Mobile US, Inc. * | 133 | 17,894 |
Total Common Stocks (Cost $4,212,051) | 7,201,860 | |
Short Term Investments — 0.7% | ||
Investment Companies — 0.6% | ||
JPMorgan U.S. Government Money Market Fund Class Institutional Shares, 1.31% (c) (d) (Cost $45,597) | 45,597 | 45,597 |
Investment of Cash Collateral from Securities Loaned — 0.1% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (c) (d) | 4,405 | 4,403 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (c) (d) | 1,597 | 1,597 |
Total Investment of Cash Collateral from Securities Loaned (Cost $6,000) | 6,000 | |
Total Short Term Investments (Cost $51,597) | 51,597 | |
Total Investments — 99.9% (Cost $4,263,648) | 7,253,457 | |
Other Assets Less Liabilities — 0.1% | 4,327 | |
NET ASSETS — 100.0% | 7,257,784 |
Percentages indicated are based on net assets. |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | Investment in affiliate. This security is included in an index in which the Fund, as an index fund, tracks. | |
(b) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $5,442. | |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of June 30, 2022. |
48 | J.P. Morgan Equity Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 287 | 09/16/2022 | USD | 54,473 | (461) |
Abbreviations | |
USD | United States Dollar |
June 30, 2022 | J.P. Morgan Equity Funds | 49 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 82.5% | ||
Aerospace & Defense — 1.4% | ||
General Dynamics Corp. | 89 | 19,709 |
Northrop Grumman Corp. | 25 | 11,810 |
Raytheon Technologies Corp. | 132 | 12,651 |
Textron, Inc. | 81 | 4,968 |
49,138 | ||
Air Freight & Logistics — 1.3% | ||
United Parcel Service, Inc., Class B | 264 | 48,191 |
Banks — 1.1% | ||
US Bancorp | 619 | 28,488 |
Wells Fargo & Co. | 248 | 9,716 |
38,204 | ||
Beverages — 3.5% | ||
Coca-Cola Co. (The) | 891 | 56,063 |
Constellation Brands, Inc., Class A | 86 | 19,946 |
PepsiCo, Inc. | 305 | 50,889 |
126,898 | ||
Biotechnology — 3.3% | ||
AbbVie, Inc. | 386 | 59,182 |
Regeneron Pharmaceuticals, Inc. * | 37 | 22,040 |
Vertex Pharmaceuticals, Inc. * | 138 | 38,827 |
120,049 | ||
Building Products — 1.0% | ||
Trane Technologies plc | 278 | 36,063 |
Capital Markets — 1.4% | ||
Intercontinental Exchange, Inc. | 176 | 16,506 |
S&P Global, Inc. | 96 | 32,499 |
49,005 | ||
Chemicals — 2.6% | ||
Air Products and Chemicals, Inc. | 117 | 27,986 |
Ecolab, Inc. | 47 | 7,210 |
Linde plc (United Kingdom) | 153 | 44,074 |
PPG Industries, Inc. | 136 | 15,580 |
94,850 | ||
Construction Materials — 0.2% | ||
Martin Marietta Materials, Inc. | 20 | 6,057 |
Consumer Finance — 0.3% | ||
American Express Co. | 73 | 10,137 |
Containers & Packaging — 0.6% | ||
Avery Dennison Corp. | 129 | 20,870 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Diversified Financial Services — 1.0% | ||
Berkshire Hathaway, Inc., Class B * | 129 | 35,156 |
Diversified Telecommunication Services — 1.0% | ||
Verizon Communications, Inc. | 741 | 37,611 |
Electric Utilities — 4.9% | ||
Alliant Energy Corp. | 546 | 32,031 |
Duke Energy Corp. | 118 | 12,603 |
Evergy, Inc. | 228 | 14,882 |
Exelon Corp. | 1,045 | 47,380 |
FirstEnergy Corp. | 400 | 15,342 |
NextEra Energy, Inc. | 486 | 37,646 |
Xcel Energy, Inc. | 241 | 17,044 |
176,928 | ||
Electrical Equipment — 1.2% | ||
Eaton Corp. plc | 333 | 41,983 |
Electronic Equipment, Instruments & Components — 0.5% | ||
Keysight Technologies, Inc. * | 142 | 19,640 |
Equity Real Estate Investment Trusts (REITs) — 2.7% | ||
Camden Property Trust | 103 | 13,815 |
Mid-America Apartment Communities, Inc. | 57 | 9,986 |
Prologis, Inc. | 220 | 25,923 |
Public Storage | 83 | 25,840 |
SBA Communications Corp. | 17 | 5,341 |
Sun Communities, Inc. | 112 | 17,907 |
98,812 | ||
Food & Staples Retailing — 1.9% | ||
Costco Wholesale Corp. | 56 | 26,681 |
Walmart, Inc. | 343 | 41,693 |
68,374 | ||
Food Products — 3.1% | ||
Archer-Daniels-Midland Co. | 77 | 5,987 |
Hershey Co. (The) | 259 | 55,717 |
Mondelez International, Inc., Class A | 786 | 48,769 |
110,473 | ||
Health Care Equipment & Supplies — 0.2% | ||
Boston Scientific Corp. * | 245 | 9,129 |
Health Care Providers & Services — 2.6% | ||
Centene Corp. * | 180 | 15,191 |
Elevance Health, Inc. | 41 | 19,615 |
UnitedHealth Group, Inc. | 112 | 57,757 |
92,563 |
50 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Hotels, Restaurants & Leisure — 0.8% | ||
McDonald's Corp. | 119 | 29,417 |
Household Products — 2.5% | ||
Kimberly-Clark Corp. | 302 | 40,915 |
Procter & Gamble Co. (The) | 333 | 47,855 |
88,770 | ||
Insurance — 5.6% | ||
Aon plc, Class A | 116 | 31,204 |
Arthur J Gallagher & Co. | 304 | 49,553 |
Hartford Financial Services Group, Inc. (The) | 253 | 16,536 |
Progressive Corp. (The) | 523 | 60,875 |
Travelers Cos., Inc. (The) | 270 | 45,735 |
203,903 | ||
Interactive Media & Services — 1.3% | ||
Alphabet, Inc., Class A * | 22 | 47,371 |
Internet & Direct Marketing Retail — 0.7% | ||
Amazon.com, Inc. * | 256 | 27,207 |
IT Services — 6.4% | ||
Accenture plc, Class A | 149 | 41,484 |
Automatic Data Processing, Inc. | 145 | 30,491 |
FleetCor Technologies, Inc. * | 27 | 5,786 |
International Business Machines Corp. | 77 | 10,810 |
Jack Henry & Associates, Inc. | 275 | 49,436 |
Mastercard, Inc., Class A | 153 | 48,177 |
Visa, Inc., Class A | 231 | 45,447 |
231,631 | ||
Life Sciences Tools & Services — 1.6% | ||
Danaher Corp. | 32 | 7,945 |
Thermo Fisher Scientific, Inc. | 90 | 49,076 |
57,021 | ||
Machinery — 2.4% | ||
Deere & Co. | 84 | 25,164 |
Dover Corp. | 323 | 39,146 |
Otis Worldwide Corp. | 304 | 21,476 |
85,786 | ||
Media — 1.7% | ||
Charter Communications, Inc., Class A * | 37 | 17,260 |
Comcast Corp., Class A | 1,133 | 44,450 |
61,710 | ||
Multi-Utilities — 3.4% | ||
Ameren Corp. | 386 | 34,902 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Multi-Utilities — continued | ||
CMS Energy Corp. | 36 | 2,426 |
Consolidated Edison, Inc. | 250 | 23,743 |
DTE Energy Co. | 177 | 22,477 |
Sempra Energy | 30 | 4,569 |
WEC Energy Group, Inc. | 345 | 34,682 |
122,799 | ||
Oil, Gas & Consumable Fuels — 2.7% | ||
Chevron Corp. | 175 | 25,337 |
Exxon Mobil Corp. | 510 | 43,660 |
TC Energy Corp. (Canada) | 534 | 27,667 |
96,664 | ||
Pharmaceuticals — 5.1% | ||
Bristol-Myers Squibb Co. | 757 | 58,307 |
Eli Lilly & Co. | 156 | 50,582 |
Johnson & Johnson | 268 | 47,533 |
Merck & Co., Inc. | 286 | 26,061 |
182,483 | ||
Professional Services — 0.6% | ||
Booz Allen Hamilton Holding Corp. | 177 | 16,009 |
Leidos Holdings, Inc. | 53 | 5,327 |
21,336 | ||
Road & Rail — 3.7% | ||
Norfolk Southern Corp. | 197 | 44,819 |
Old Dominion Freight Line, Inc. | 190 | 48,859 |
Union Pacific Corp. | 188 | 40,035 |
133,713 | ||
Semiconductors & Semiconductor Equipment — 1.7% | ||
Analog Devices, Inc. | 109 | 15,925 |
Texas Instruments, Inc. | 288 | 44,322 |
60,247 | ||
Software — 1.9% | ||
Intuit, Inc. | 50 | 19,265 |
Microsoft Corp. | 192 | 49,290 |
68,555 | ||
Specialty Retail — 2.7% | ||
AutoZone, Inc. * | 6 | 13,514 |
Lowe's Cos., Inc. | 224 | 39,160 |
O'Reilly Automotive, Inc. * | 73 | 45,726 |
98,400 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 51 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Technology Hardware, Storage & Peripherals — 0.1% | ||
Apple, Inc. | 40 | 5,480 |
Textiles, Apparel & Luxury Goods — 0.4% | ||
NIKE, Inc., Class B | 155 | 15,880 |
Tobacco — 0.9% | ||
Altria Group, Inc. | 327 | 13,646 |
Philip Morris International, Inc. | 194 | 19,158 |
32,804 | ||
Wireless Telecommunication Services — 0.5% | ||
T-Mobile US, Inc. * | 124 | 16,703 |
Total Common Stocks (Cost $3,039,770) | 2,978,011 | |
PRINCIPAL AMOUNT ($000) | ||
Equity-Linked Notes — 14.6% | ||
BNP Paribas, ELN, 76.60%, 7/25/2022, (linked to S&P 500 Index) (a) | 11 | 40,569 |
BNP Paribas, ELN, 79.00%, 8/5/2022, (linked to S&P 500 Index) (a) | 14 | 55,808 |
BofA Finance LLC, ELN, 81.02%, 8/1/2022, (linked to S&P 500 Index) (a) | 13 | 50,441 |
Canadian Imperial Bank of Commerce, ELN, 68.70%, 7/11/2022, (linked to S&P 500 Index) (Canada) (a) | 16 | 61,156 |
Citigroup Global Markets Holdings, Inc., ELN, 79.90%, 7/29/2022, (linked to S&P 500 Index) (a) | 13 | 50,645 |
Credit Suisse AG, ELN, 65.60%, 7/18/2022, (linked to S&P 500 Index) (Switzerland) (a) | 15 | 56,831 |
Credit Suisse AG, ELN, 67.80%, 7/8/2022, (linked to S&P 500 Index) (Switzerland) (a) | 16 | 60,411 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
GS Finance Corp., ELN, 84.4%, 7/22/2022, (linked to S&P 500 Index) (a) | 11 | 40,720 |
Societe Generale SA, ELN, 64.80%, 7/15/2022, (linked to S&P 500 Index) (a) | 14 | 56,038 |
UBS AG, ELN, 78.20%, 8/8/2022, (linked to S&P 500 Index) (Switzerland) (a) | 14 | 55,748 |
Total Equity-Linked Notes (Cost $539,993) | 528,367 | |
SHARES (000) | ||
Short Term Investments — 2.2% | ||
Investment Companies — 2.2% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $80,015) | 80,001 | 80,017 |
Total Investments — 99.3% (Cost $3,659,778) | 3,586,395 | |
Other Assets Less Liabilities — 0.7% | 24,196 | |
NET ASSETS — 100.0% | 3,610,591 |
Percentages indicated are based on net assets. |
Abbreviations | |
ELN | Equity-Linked Note |
* | Non-income producing security. |
(a) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 136 | 09/16/2022 | USD | 25,813 | 144 |
Abbreviations | |
USD | United States Dollar |
52 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 97.6% | ||
Aerospace & Defense — 1.3% | ||
Northrop Grumman Corp. | 104 | 49,778 |
Raytheon Technologies Corp. | 1,201 | 115,441 |
Textron, Inc. | 667 | 40,746 |
205,965 | ||
Air Freight & Logistics — 1.4% | ||
FedEx Corp. | 245 | 55,492 |
United Parcel Service, Inc., Class B | 916 | 167,238 |
222,730 | ||
Airlines — 0.1% | ||
Southwest Airlines Co. * | 668 | 24,129 |
Auto Components — 0.2% | ||
Aptiv plc * | 138 | 12,278 |
Magna International, Inc. (Canada) | 447 | 24,537 |
36,815 | ||
Automobiles — 1.8% | ||
General Motors Co. * | 802 | 25,465 |
Rivian Automotive, Inc., Class A * | 160 | 4,114 |
Tesla, Inc. * (a) | 398 | 268,392 |
297,971 | ||
Banks — 3.7% | ||
Bank of America Corp. (a) | 5,791 | 180,285 |
Citigroup, Inc. | 484 | 22,248 |
Fifth Third Bancorp | 1,293 | 43,448 |
SVB Financial Group * | 50 | 19,655 |
Truist Financial Corp. | 1,158 | 54,938 |
US Bancorp | 2,373 | 109,212 |
Wells Fargo & Co. (a) | 4,485 | 175,678 |
605,464 | ||
Beverages — 2.1% | ||
Coca-Cola Co. (The) (a) | 3,347 | 210,577 |
Constellation Brands, Inc., Class A | 282 | 65,780 |
PepsiCo, Inc. | 415 | 69,064 |
345,421 | ||
Biotechnology — 2.9% | ||
AbbVie, Inc. (a) | 1,542 | 236,104 |
Biogen, Inc. * (a) | 158 | 32,232 |
BioMarin Pharmaceutical, Inc. * | 118 | 9,787 |
Neurocrine Biosciences, Inc. * | 120 | 11,678 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Biotechnology — continued | ||
Regeneron Pharmaceuticals, Inc. * | 150 | 88,843 |
Vertex Pharmaceuticals, Inc. * | 341 | 96,030 |
474,674 | ||
Building Products — 0.8% | ||
Lennox International, Inc. | 17 | 3,492 |
Masco Corp. | 711 | 35,994 |
Trane Technologies plc | 700 | 90,888 |
130,374 | ||
Capital Markets — 2.1% | ||
Intercontinental Exchange, Inc. | 524 | 49,242 |
Morgan Stanley | 924 | 70,305 |
S&P Global, Inc. | 331 | 111,602 |
State Street Corp. | 884 | 54,493 |
T. Rowe Price Group, Inc. | 523 | 59,407 |
345,049 | ||
Chemicals — 1.8% | ||
Air Products and Chemicals, Inc. | 115 | 27,537 |
Celanese Corp. | 113 | 13,338 |
DuPont de Nemours, Inc. | 484 | 26,914 |
Eastman Chemical Co. | 562 | 50,441 |
Linde plc (United Kingdom) | 426 | 122,382 |
PPG Industries, Inc. | 493 | 56,413 |
297,025 | ||
Commercial Services & Supplies — 0.1% | ||
Cintas Corp. (a) | 52 | 19,390 |
Communications Equipment — 0.1% | ||
Motorola Solutions, Inc. | 88 | 18,408 |
Construction Materials — 0.3% | ||
Martin Marietta Materials, Inc. | 140 | 41,864 |
Consumer Finance — 0.8% | ||
American Express Co. | 769 | 106,603 |
Capital One Financial Corp. | 288 | 30,050 |
136,653 | ||
Containers & Packaging — 0.2% | ||
Avery Dennison Corp. | 167 | 27,000 |
Diversified Financial Services — 1.5% | ||
Berkshire Hathaway, Inc., Class B * (a) | 878 | 239,558 |
Voya Financial, Inc. | 245 | 14,596 |
254,154 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 53 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Diversified Telecommunication Services — 0.2% | ||
Verizon Communications, Inc. (a) | 705 | 35,775 |
Electric Utilities — 1.9% | ||
Evergy, Inc. | 329 | 21,446 |
Exelon Corp. | 2,701 | 122,409 |
FirstEnergy Corp. | 1,180 | 45,281 |
NextEra Energy, Inc. (a) | 1,607 | 124,513 |
313,649 | ||
Electrical Equipment — 0.6% | ||
Eaton Corp. plc | 791 | 99,612 |
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 583 | 16,837 |
Entertainment — 0.5% | ||
Netflix, Inc. * (a) | 308 | 53,910 |
Walt Disney Co. (The) * | 296 | 27,950 |
81,860 | ||
Equity Real Estate Investment Trusts (REITs) — 2.7% | ||
Camden Property Trust | 445 | 59,835 |
Duke Realty Corp. | 210 | 11,550 |
Equinix, Inc. | 76 | 49,815 |
Equity LifeStyle Properties, Inc. | 470 | 33,089 |
Host Hotels & Resorts, Inc. | 1,419 | 22,258 |
Kimco Realty Corp. | 1,305 | 25,802 |
Prologis, Inc. | 914 | 107,567 |
SBA Communications Corp. | 113 | 36,166 |
Sun Communities, Inc. | 272 | 43,339 |
UDR, Inc. | 216 | 9,928 |
Ventas, Inc. | 1,006 | 51,719 |
451,068 | ||
Food & Staples Retailing — 1.3% | ||
Costco Wholesale Corp. | 288 | 138,287 |
Walmart, Inc. | 559 | 67,939 |
206,226 | ||
Food Products — 0.8% | ||
Hershey Co. (The) | 134 | 28,896 |
Mondelez International, Inc., Class A (a) | 1,539 | 95,565 |
124,461 | ||
Health Care Equipment & Supplies — 2.4% | ||
Abbott Laboratories | 715 | 77,726 |
ABIOMED, Inc. * | 22 | 5,478 |
Baxter International, Inc. | 1,108 | 71,154 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Health Care Equipment & Supplies — continued | ||
Boston Scientific Corp. * (a) | 1,739 | 64,814 |
Dexcom, Inc. * | 186 | 13,842 |
Intuitive Surgical, Inc. * | 363 | 72,867 |
Medtronic plc (a) | 458 | 41,061 |
Zimmer Biomet Holdings, Inc. | 441 | 46,373 |
393,315 | ||
Health Care Providers & Services — 3.6% | ||
Centene Corp. * | 1,222 | 103,432 |
Elevance Health, Inc. | 211 | 101,957 |
Humana, Inc. | 63 | 29,676 |
McKesson Corp. | 140 | 45,506 |
UnitedHealth Group, Inc. (a) | 594 | 304,988 |
585,559 | ||
Hotels, Restaurants & Leisure — 2.0% | ||
Booking Holdings, Inc. * (a) | 34 | 59,583 |
Chipotle Mexican Grill, Inc. * | 43 | 56,450 |
Expedia Group, Inc. * | 294 | 27,852 |
Hilton Worldwide Holdings, Inc. | 376 | 41,887 |
McDonald's Corp. (a) | 512 | 126,501 |
Royal Caribbean Cruises Ltd. * | 108 | 3,775 |
Yum! Brands, Inc. | 152 | 17,276 |
333,324 | ||
Household Durables — 0.5% | ||
DR Horton, Inc. | 69 | 4,574 |
Lennar Corp., Class A | 814 | 57,452 |
PulteGroup, Inc. | 124 | 4,898 |
Toll Brothers, Inc. | 391 | 17,430 |
84,354 | ||
Household Products — 1.4% | ||
Kimberly-Clark Corp. | 445 | 60,113 |
Procter & Gamble Co. (The) (a) | 1,216 | 174,858 |
234,971 | ||
Industrial Conglomerates — 0.3% | ||
Honeywell International, Inc. (a) | 298 | 51,743 |
Insurance — 2.2% | ||
Aon plc, Class A | 174 | 46,970 |
Arthur J Gallagher & Co. | 150 | 24,521 |
Hartford Financial Services Group, Inc. (The) | 1,193 | 78,073 |
Progressive Corp. (The) | 1,167 | 135,618 |
54 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Insurance — continued | ||
Prudential Financial, Inc. | 158 | 15,135 |
Travelers Cos., Inc. (The) | 387 | 65,370 |
365,687 | ||
Interactive Media & Services — 5.8% | ||
Alphabet, Inc., Class A * | 196 | 425,581 |
Alphabet, Inc., Class C * | 147 | 321,533 |
Meta Platforms, Inc., Class A * (a) | 1,227 | 197,896 |
ZoomInfo Technologies, Inc., Class A * | 485 | 16,128 |
961,138 | ||
Internet & Direct Marketing Retail — 3.1% | ||
Amazon.com, Inc. * | 4,855 | 515,620 |
IT Services — 4.4% | ||
Accenture plc, Class A | 545 | 151,410 |
Affirm Holdings, Inc. * | 412 | 7,448 |
Automatic Data Processing, Inc. | 216 | 45,306 |
FleetCor Technologies, Inc. * | 224 | 47,050 |
Mastercard, Inc., Class A (a) | 725 | 228,846 |
Visa, Inc., Class A (a) | 1,251 | 246,271 |
726,331 | ||
Life Sciences Tools & Services — 2.0% | ||
Danaher Corp. | 507 | 128,601 |
Thermo Fisher Scientific, Inc. (a) | 366 | 198,654 |
327,255 | ||
Machinery — 2.1% | ||
Deere & Co. | 442 | 132,410 |
Dover Corp. | 274 | 33,254 |
Ingersoll Rand, Inc. | 557 | 23,443 |
Otis Worldwide Corp. | 1,116 | 78,896 |
Parker-Hannifin Corp. | 278 | 68,260 |
Stanley Black & Decker, Inc. | 92 | 9,597 |
345,860 | ||
Media — 1.4% | ||
Charter Communications, Inc., Class A * (a) | 220 | 103,396 |
Comcast Corp., Class A (a) | 3,169 | 124,342 |
Fox Corp., Class A | 116 | 3,723 |
Interpublic Group of Cos., Inc. (The) | 201 | 5,536 |
236,997 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Metals & Mining — 0.2% | ||
Freeport-McMoRan, Inc. | 613 | 17,947 |
Nucor Corp. | 148 | 15,421 |
33,368 | ||
Multiline Retail — 0.1% | ||
Dollar General Corp. | 55 | 13,449 |
Multi-Utilities — 1.1% | ||
Ameren Corp. | 611 | 55,210 |
CenterPoint Energy, Inc. | 1,706 | 50,473 |
Sempra Energy | 517 | 77,618 |
183,301 | ||
Oil, Gas & Consumable Fuels — 4.1% | ||
Cheniere Energy, Inc. | 187 | 24,916 |
Chevron Corp. (a) | 955 | 138,292 |
ConocoPhillips | 1,810 | 162,589 |
Diamondback Energy, Inc. | 772 | 93,467 |
EOG Resources, Inc. (a) | 856 | 94,499 |
Exxon Mobil Corp. | 805 | 68,967 |
Phillips 66 | 298 | 24,399 |
Pioneer Natural Resources Co. (a) | 320 | 71,409 |
678,538 | ||
Pharmaceuticals — 4.2% | ||
Bristol-Myers Squibb Co. (a) | 2,316 | 178,344 |
Eli Lilly & Co. (a) | 559 | 181,400 |
Johnson & Johnson (a) | 1,047 | 185,898 |
Merck & Co., Inc. | 912 | 83,159 |
Pfizer, Inc. | 1,068 | 55,971 |
684,772 | ||
Professional Services — 0.5% | ||
Booz Allen Hamilton Holding Corp. | 274 | 24,724 |
Leidos Holdings, Inc. | 543 | 54,705 |
79,429 | ||
Road & Rail — 1.0% | ||
Lyft, Inc., Class A * | 264 | 3,507 |
Norfolk Southern Corp. (a) | 404 | 91,844 |
Uber Technologies, Inc. * | 367 | 7,510 |
Union Pacific Corp. | 293 | 62,538 |
165,399 | ||
Semiconductors & Semiconductor Equipment — 5.6% | ||
Advanced Micro Devices, Inc. * (a) | 1,405 | 107,452 |
Analog Devices, Inc. | 916 | 133,802 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 55 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
Applied Materials, Inc. | 153 | 13,887 |
Lam Research Corp. | 249 | 106,291 |
Microchip Technology, Inc. | 980 | 56,924 |
Micron Technology, Inc. | 554 | 30,603 |
NVIDIA Corp. (a) | 1,122 | 170,171 |
NXP Semiconductors NV (China) | 652 | 96,479 |
QUALCOMM, Inc. | 351 | 44,872 |
Texas Instruments, Inc. (a) | 1,093 | 167,924 |
928,405 | ||
Software — 8.8% | ||
Adobe, Inc. * | 230 | 84,340 |
Fortinet, Inc. * | 353 | 19,980 |
Intuit, Inc. (a) | 290 | 111,878 |
Microsoft Corp. (a) | 4,380 | 1,124,932 |
Oracle Corp. | 518 | 36,172 |
Salesforce, Inc. * (a) | 278 | 45,854 |
Workday, Inc., Class A * | 179 | 24,919 |
1,448,075 | ||
Specialty Retail — 2.8% | ||
AutoNation, Inc. * | 113 | 12,629 |
AutoZone, Inc. * (a) | 19 | 39,550 |
Best Buy Co., Inc. (a) | 738 | 48,133 |
Burlington Stores, Inc. * | 88 | 11,975 |
Home Depot, Inc. (The) (a) | 197 | 54,045 |
Lowe's Cos., Inc. (a) | 871 | 152,053 |
O'Reilly Automotive, Inc. * | 140 | 88,499 |
TJX Cos., Inc. (The) (a) | 923 | 51,566 |
458,450 | ||
Technology Hardware, Storage & Peripherals — 6.9% | ||
Apple, Inc. (a) | 7,854 | 1,073,848 |
Seagate Technology Holdings plc | 998 | 71,276 |
1,145,124 | ||
Textiles, Apparel & Luxury Goods — 0.5% | ||
NIKE, Inc., Class B | 826 | 84,419 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Tobacco — 0.8% | ||
Altria Group, Inc. (a) | 1,392 | 58,136 |
Philip Morris International, Inc. | 780 | 76,999 |
135,135 | ||
Wireless Telecommunication Services — 0.5% | ||
T-Mobile US, Inc. * | 615 | 82,770 |
Total Common Stocks (Cost $12,971,764) | 16,095,362 | |
NO. OF CONTRACTS | ||
Options Purchased — 3.0% | ||
Put Options Purchased — 3.0% | ||
Index Funds — 3.0% | ||
S&P 500 Index | ||
9/30/2022 at USD 3,580.00, European Style | ||
Notional Amount: USD 16,473,974 | ||
Counterparty: Exchange-Traded * (Cost $524,372) | 43,520 | 503,744 |
Total Put Options Purchased (Cost $524,372) | 503,744 | |
Total Options Purchased (Cost $524,372) | 503,744 | |
Total Investments — 100.6% (Cost $13,496,136) | 16,599,106 | |
Liabilities in Excess of Other Assets — (0.6)% | (104,772) | |
NET ASSETS — 100.0% | 16,494,334 |
Percentages indicated are based on net assets. |
Abbreviations | |
USD | United States Dollar |
* | Non-income producing security. |
(a) | All or a portion of the security is segregated for options written. |
56 | J.P. Morgan Large Cap Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 2,520 | 09/16/2022 | USD | 478,296 | 3,514 |
Abbreviations | |
USD | United States Dollar |
Written Call Options Contracts as of June 30, 2022 (amounts in thousands, except number of contracts): | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
S&P 500 Index | Exchange-Traded | 43,520 | USD 16,473,974 | USD 4,005.00 | 9/30/2022 | (382,976) |
Written Put Options Contracts as of June 30, 2022 (amounts in thousands, except number of contracts): | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
S&P 500 Index | Exchange-Traded | 43,520 | USD 16,473,974 | USD 3,020.00 | 9/30/2022 | (118,592) |
Total Written Options Contracts (Premiums Received $508,009) | (501,568) |
Abbreviations | |
USD | United States Dollar |
June 30, 2022 | J.P. Morgan Large Cap Funds | 57 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 94.0% | ||
Aerospace & Defense — 1.2% | ||
Northrop Grumman Corp. | 34 | 16,320 |
Raytheon Technologies Corp. | 395 | 37,923 |
Textron, Inc. | 219 | 13,392 |
67,635 | ||
Air Freight & Logistics — 1.3% | ||
FedEx Corp. | 80 | 18,213 |
United Parcel Service, Inc., Class B | 301 | 54,967 |
73,180 | ||
Airlines — 0.1% | ||
Southwest Airlines Co. * | 219 | 7,927 |
Auto Components — 0.2% | ||
Aptiv plc * | 45 | 4,031 |
Magna International, Inc. (Canada) | 147 | 8,060 |
12,091 | ||
Automobiles — 1.7% | ||
General Motors Co. * | 263 | 8,364 |
Rivian Automotive, Inc., Class A * | 57 | 1,468 |
Tesla, Inc. * | 131 | 88,141 |
97,973 | ||
Banks — 3.6% | ||
Bank of America Corp. | 1,914 | 59,583 |
Citigroup, Inc. | 159 | 7,306 |
Fifth Third Bancorp | 425 | 14,274 |
SVB Financial Group * | 16 | 6,203 |
Truist Financial Corp. | 389 | 18,466 |
US Bancorp | 780 | 35,885 |
Wells Fargo & Co. | 1,473 | 57,705 |
199,422 | ||
Beverages — 2.0% | ||
Coca-Cola Co. (The) | 1,100 | 69,189 |
Constellation Brands, Inc., Class A | 92 | 21,563 |
PepsiCo, Inc. | 136 | 22,683 |
113,435 | ||
Biotechnology — 2.8% | ||
AbbVie, Inc. | 506 | 77,552 |
Biogen, Inc. * | 52 | 10,587 |
BioMarin Pharmaceutical, Inc. * | 39 | 3,214 |
Neurocrine Biosciences, Inc. * | 39 | 3,847 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Biotechnology — continued | ||
Regeneron Pharmaceuticals, Inc. * | 50 | 29,272 |
Vertex Pharmaceuticals, Inc. * | 112 | 31,597 |
156,069 | ||
Building Products — 0.8% | ||
Lennox International, Inc. | 5 | 1,145 |
Masco Corp. | 234 | 11,827 |
Trane Technologies plc | 230 | 29,873 |
42,845 | ||
Capital Markets — 2.0% | ||
Intercontinental Exchange, Inc. | 172 | 16,175 |
Morgan Stanley | 297 | 22,626 |
S&P Global, Inc. | 109 | 36,654 |
State Street Corp. | 290 | 17,900 |
T. Rowe Price Group, Inc. | 172 | 19,504 |
112,859 | ||
Chemicals — 1.7% | ||
Air Products and Chemicals, Inc. | 38 | 9,072 |
Celanese Corp. | 37 | 4,376 |
DuPont de Nemours, Inc. | 159 | 8,812 |
Eastman Chemical Co. | 184 | 16,563 |
Linde plc (United Kingdom) | 140 | 40,279 |
PPG Industries, Inc. | 162 | 18,531 |
97,633 | ||
Commercial Services & Supplies — 0.1% | ||
Cintas Corp. | 17 | 6,370 |
Communications Equipment — 0.1% | ||
Motorola Solutions, Inc. | 29 | 6,032 |
Construction Materials — 0.2% | ||
Martin Marietta Materials, Inc. | 46 | 13,764 |
Consumer Finance — 0.8% | ||
American Express Co. | 253 | 34,993 |
Capital One Financial Corp. | 95 | 9,920 |
44,913 | ||
Containers & Packaging — 0.2% | ||
Avery Dennison Corp. | 55 | 8,892 |
Diversified Financial Services — 1.5% | ||
Berkshire Hathaway, Inc., Class B * | 288 | 78,691 |
Voya Financial, Inc. | 81 | 4,786 |
83,477 |
58 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Diversified Telecommunication Services — 0.2% | ||
Verizon Communications, Inc. | 217 | 11,033 |
Electric Utilities — 1.8% | ||
Evergy, Inc. | 104 | 6,798 |
Exelon Corp. | 890 | 40,333 |
FirstEnergy Corp. | 388 | 14,875 |
NextEra Energy, Inc. | 528 | 40,905 |
102,911 | ||
Electrical Equipment — 0.6% | ||
Eaton Corp. plc | 260 | 32,714 |
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 192 | 5,532 |
Entertainment — 0.5% | ||
Netflix, Inc. * | 101 | 17,720 |
Walt Disney Co. (The) * | 97 | 9,167 |
26,887 | ||
Equity Real Estate Investment Trusts (REITs) — 2.6% | ||
Camden Property Trust | 146 | 19,655 |
Duke Realty Corp. | 69 | 3,796 |
Equinix, Inc. | 25 | 16,428 |
Equity LifeStyle Properties, Inc. | 154 | 10,863 |
Host Hotels & Resorts, Inc. | 467 | 7,316 |
Kimco Realty Corp. | 428 | 8,467 |
Prologis, Inc. | 301 | 35,338 |
SBA Communications Corp. | 37 | 11,892 |
Sun Communities, Inc. | 89 | 14,236 |
UDR, Inc. | 71 | 3,263 |
Ventas, Inc. | 330 | 16,989 |
148,243 | ||
Food & Staples Retailing — 1.2% | ||
Costco Wholesale Corp. | 95 | 45,458 |
Walmart, Inc. | 183 | 22,304 |
67,762 | ||
Food Products — 0.7% | ||
Hershey Co. (The) | 44 | 9,487 |
Mondelez International, Inc., Class A | 506 | 31,398 |
40,885 | ||
Health Care Equipment & Supplies — 2.3% | ||
Abbott Laboratories | 236 | 25,568 |
ABIOMED, Inc. * | 7 | 1,795 |
Baxter International, Inc. | 364 | 23,378 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Health Care Equipment & Supplies — continued | ||
Boston Scientific Corp. * | 571 | 21,286 |
Dexcom, Inc. * | 61 | 4,539 |
Intuitive Surgical, Inc. * | 119 | 23,944 |
Medtronic plc | 150 | 13,468 |
Zimmer Biomet Holdings, Inc. | 139 | 14,557 |
128,535 | ||
Health Care Providers & Services — 3.4% | ||
Centene Corp. * | 402 | 34,026 |
Elevance Health, Inc. | 69 | 33,310 |
Humana, Inc. | 21 | 9,754 |
McKesson Corp. | 46 | 14,995 |
UnitedHealth Group, Inc. (a) | 195 | 100,195 |
192,280 | ||
Hotels, Restaurants & Leisure — 1.9% | ||
Booking Holdings, Inc. * | 11 | 19,641 |
Chipotle Mexican Grill, Inc. * | 14 | 18,483 |
Expedia Group, Inc. * | 97 | 9,152 |
Hilton Worldwide Holdings, Inc. | 123 | 13,749 |
McDonald's Corp. | 168 | 41,440 |
Royal Caribbean Cruises Ltd. * | 36 | 1,246 |
Yum! Brands, Inc. | 50 | 5,674 |
109,385 | ||
Household Durables — 0.5% | ||
DR Horton, Inc. | 23 | 1,498 |
Lennar Corp., Class A | 267 | 18,879 |
PulteGroup, Inc. | 41 | 1,611 |
Toll Brothers, Inc. | 128 | 5,725 |
27,713 | ||
Household Products — 1.4% | ||
Kimberly-Clark Corp. | 146 | 19,753 |
Procter & Gamble Co. (The) | 400 | 57,472 |
77,225 | ||
Industrial Conglomerates — 0.3% | ||
Honeywell International, Inc. | 98 | 17,009 |
Insurance — 2.1% | ||
Aon plc, Class A | 57 | 15,216 |
Arthur J Gallagher & Co. | 49 | 8,041 |
Hartford Financial Services Group, Inc. (The) | 392 | 25,649 |
Progressive Corp. (The) | 383 | 44,558 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 59 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Insurance — continued | ||
Prudential Financial, Inc. | 52 | 4,963 |
Travelers Cos., Inc. (The) | 127 | 21,461 |
119,888 | ||
Interactive Media & Services — 5.6% | ||
Alphabet, Inc., Class A * | 64 | 139,922 |
Alphabet, Inc., Class C * | 48 | 105,789 |
Meta Platforms, Inc., Class A * (a) | 403 | 65,042 |
ZoomInfo Technologies, Inc., Class A * | 160 | 5,299 |
316,052 | ||
Internet & Direct Marketing Retail — 3.0% | ||
Amazon.com, Inc. * | 1,597 | 169,626 |
IT Services — 4.2% | ||
Accenture plc, Class A | 179 | 49,716 |
Affirm Holdings, Inc. * | 135 | 2,445 |
Automatic Data Processing, Inc. | 71 | 14,902 |
FleetCor Technologies, Inc. * | 74 | 15,446 |
Mastercard, Inc., Class A | 238 | 75,184 |
Visa, Inc., Class A (a) | 411 | 80,803 |
238,496 | ||
Life Sciences Tools & Services — 1.9% | ||
Danaher Corp. | 167 | 42,263 |
Thermo Fisher Scientific, Inc. | 120 | 65,202 |
107,465 | ||
Machinery — 2.0% | ||
Deere & Co. | 145 | 43,484 |
Dover Corp. | 93 | 11,278 |
Ingersoll Rand, Inc. | 183 | 7,696 |
Otis Worldwide Corp. | 367 | 25,958 |
Parker-Hannifin Corp. | 91 | 22,397 |
Stanley Black & Decker, Inc. | 30 | 3,153 |
113,966 | ||
Media — 1.4% | ||
Charter Communications, Inc., Class A * | 73 | 33,953 |
Comcast Corp., Class A | 1,040 | 40,822 |
Fox Corp., Class A | 38 | 1,229 |
Interpublic Group of Cos., Inc. (The) | 66 | 1,819 |
77,823 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Metals & Mining — 0.2% | ||
Freeport-McMoRan, Inc. | 201 | 5,896 |
Nucor Corp. | 49 | 5,074 |
10,970 | ||
Multiline Retail — 0.1% | ||
Dollar General Corp. | 18 | 4,439 |
Multi-Utilities — 1.1% | ||
Ameren Corp. | 203 | 18,313 |
CenterPoint Energy, Inc. | 562 | 16,620 |
Sempra Energy | 169 | 25,460 |
60,393 | ||
Oil, Gas & Consumable Fuels — 4.0% | ||
Cheniere Energy, Inc. | 62 | 8,185 |
Chevron Corp. | 314 | 45,446 |
ConocoPhillips | 595 | 53,416 |
Diamondback Energy, Inc. | 254 | 30,713 |
EOG Resources, Inc. | 281 | 31,050 |
Exxon Mobil Corp. | 264 | 22,641 |
Phillips 66 | 95 | 7,812 |
Pioneer Natural Resources Co. | 105 | 23,464 |
222,727 | ||
Pharmaceuticals — 4.0% | ||
Bristol-Myers Squibb Co. (a) | 761 | 58,595 |
Eli Lilly & Co. | 183 | 59,438 |
Johnson & Johnson | 344 | 61,045 |
Merck & Co., Inc. | 299 | 27,259 |
Pfizer, Inc. | 351 | 18,385 |
224,722 | ||
Professional Services — 0.5% | ||
Booz Allen Hamilton Holding Corp. | 90 | 8,140 |
Leidos Holdings, Inc. | 179 | 17,974 |
26,114 | ||
Road & Rail — 1.0% | ||
Lyft, Inc., Class A * | 93 | 1,231 |
Norfolk Southern Corp. | 133 | 30,173 |
Uber Technologies, Inc. * | 116 | 2,377 |
Union Pacific Corp. | 96 | 20,541 |
54,322 | ||
Semiconductors & Semiconductor Equipment — 5.4% | ||
Advanced Micro Devices, Inc. * | 461 | 35,276 |
Analog Devices, Inc. | 301 | 43,926 |
60 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
Applied Materials, Inc. | 49 | 4,461 |
Lam Research Corp. | 82 | 34,949 |
Microchip Technology, Inc. | 322 | 18,679 |
Micron Technology, Inc. | 182 | 10,055 |
NVIDIA Corp. | 368 | 55,873 |
NXP Semiconductors NV (China) | 214 | 31,667 |
QUALCOMM, Inc. | 116 | 14,772 |
Texas Instruments, Inc. | 359 | 55,209 |
304,867 | ||
Software — 8.5% | ||
Adobe, Inc. * | 76 | 27,698 |
Fortinet, Inc. * | 115 | 6,524 |
Intuit, Inc. | 96 | 36,863 |
Microsoft Corp. (a) | 1,439 | 369,551 |
Oracle Corp. | 170 | 11,890 |
Salesforce, Inc. * | 91 | 15,078 |
Workday, Inc., Class A * | 59 | 8,163 |
475,767 | ||
Specialty Retail — 2.7% | ||
AutoNation, Inc. * | 37 | 4,147 |
AutoZone, Inc. * | 6 | 13,138 |
Best Buy Co., Inc. | 243 | 15,810 |
Burlington Stores, Inc. * | 29 | 3,931 |
Home Depot, Inc. (The) | 65 | 17,742 |
Lowe's Cos., Inc. (a) | 286 | 49,958 |
O'Reilly Automotive, Inc. * | 46 | 29,275 |
TJX Cos., Inc. (The) | 303 | 16,950 |
150,951 | ||
Technology Hardware, Storage & Peripherals — 6.7% | ||
Apple, Inc. (a) | 2,582 | 352,957 |
Seagate Technology Holdings plc | 327 | 23,404 |
376,361 | ||
Textiles, Apparel & Luxury Goods — 0.5% | ||
NIKE, Inc., Class B | 271 | 27,730 |
Tobacco — 0.8% | ||
Altria Group, Inc. | 457 | 19,099 |
Philip Morris International, Inc. | 256 | 25,272 |
44,371 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Wireless Telecommunication Services — 0.5% | ||
T-Mobile US, Inc. * | 202 | 27,192 |
Total Common Stocks (Cost $5,921,651) | 5,286,873 | |
NO. OF CONTRACTS | ||
Options Purchased — 4.4% | ||
Put Options Purchased — 4.4% | ||
Index Funds — 4.4% | ||
S&P 500 Index | ||
7/29/2022 at USD 3,910.00, European Style | ||
Notional Amount: USD 5,357,070 | ||
Counterparty: Exchange-Traded * (Cost $195,758) | 14,152 | 250,491 |
Total Put Options Purchased (Cost $195,758) | 250,491 | |
Total Options Purchased (Cost $195,758) | 250,491 | |
SHARES (000) | ||
Short Term Investments — 3.8% | ||
Investment Companies — 3.8% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) (Cost $212,012) | 212,012 | 212,012 |
Total Investments — 102.2% (Cost $6,329,421) | 5,749,376 | |
Liabilities in Excess of Other Assets — (2.2)% | (125,909) | |
NET ASSETS — 100.0% | 5,623,467 |
Percentages indicated are based on net assets. |
Abbreviations | |
USD | United States Dollar |
* | Non-income producing security. |
(a) | All or a portion of the security is segregated for options written. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 61 |
AS OF June 30, 2022 (continued)
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 376 | 09/16/2022 | USD | 71,365 | (100) |
Abbreviations | |
USD | United States Dollar |
Written Call Options Contracts as of June 30, 2022 (amounts in thousands, except number of contracts): | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
S&P 500 Index | Exchange-Traded | 14,152 | USD 5,357,070 | USD 4,360.00 | 7/29/2022 | (1,557) |
Written Put Options Contracts as of June 30, 2022 (amounts in thousands, except number of contracts): | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
S&P 500 Index | Exchange-Traded | 14,152 | USD 5,357,070 | USD 3,290.00 | 7/29/2022 | (15,142) |
Total Written Options Contracts (Premiums Received $191,908) | (16,699) |
Abbreviations | |
USD | United States Dollar |
62 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 92.2% | ||
Aerospace & Defense — 1.2% | ||
Northrop Grumman Corp. | 17 | 8,152 |
Raytheon Technologies Corp. | 196 | 18,868 |
Textron, Inc. | 109 | 6,656 |
33,676 | ||
Air Freight & Logistics — 1.3% | ||
FedEx Corp. | 40 | 9,063 |
United Parcel Service, Inc., Class B | 150 | 27,343 |
36,406 | ||
Airlines — 0.1% | ||
Southwest Airlines Co. * | 109 | 3,944 |
Auto Components — 0.2% | ||
Aptiv plc * | 23 | 2,005 |
Magna International, Inc. (Canada) | 73 | 4,011 |
6,016 | ||
Automobiles — 1.7% | ||
General Motors Co. * | 131 | 4,162 |
Rivian Automotive, Inc., Class A * | 25 | 629 |
Tesla, Inc. * (a) | 65 | 43,881 |
48,672 | ||
Banks — 3.5% | ||
Bank of America Corp. | 946 | 29,452 |
Citigroup, Inc. | 79 | 3,620 |
Fifth Third Bancorp | 211 | 7,100 |
SVB Financial Group * | 8 | 3,219 |
Truist Financial Corp. | 194 | 9,187 |
US Bancorp | 388 | 17,854 |
Wells Fargo & Co. | 732 | 28,670 |
99,102 | ||
Beverages — 2.0% | ||
Coca-Cola Co. (The) (a) | 547 | 34,428 |
Constellation Brands, Inc., Class A | 46 | 10,729 |
PepsiCo, Inc. | 68 | 11,259 |
56,416 | ||
Biotechnology — 2.7% | ||
AbbVie, Inc. | 251 | 38,529 |
Biogen, Inc. * | 26 | 5,265 |
BioMarin Pharmaceutical, Inc. * | 19 | 1,599 |
Neurocrine Biosciences, Inc. * | 20 | 1,919 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Biotechnology — continued | ||
Regeneron Pharmaceuticals, Inc. * | 25 | 14,573 |
Vertex Pharmaceuticals, Inc. * | 56 | 15,730 |
77,615 | ||
Building Products — 0.7% | ||
Lennox International, Inc. | 3 | 570 |
Masco Corp. | 116 | 5,879 |
Trane Technologies plc | 114 | 14,858 |
21,307 | ||
Capital Markets — 2.0% | ||
Intercontinental Exchange, Inc. | 86 | 8,048 |
Morgan Stanley | 148 | 11,278 |
S&P Global, Inc. | 54 | 18,237 |
State Street Corp. | 139 | 8,550 |
T. Rowe Price Group, Inc. | 85 | 9,709 |
55,822 | ||
Chemicals — 1.7% | ||
Air Products and Chemicals, Inc. | 19 | 4,502 |
Celanese Corp. | 18 | 2,179 |
DuPont de Nemours, Inc. | 79 | 4,396 |
Eastman Chemical Co. | 92 | 8,248 |
Linde plc (United Kingdom) | 69 | 20,020 |
PPG Industries, Inc. | 81 | 9,223 |
48,568 | ||
Commercial Services & Supplies — 0.1% | ||
Cintas Corp. | 8 | 3,173 |
Communications Equipment — 0.1% | ||
Motorola Solutions, Inc. | 14 | 3,006 |
Construction Materials — 0.2% | ||
Martin Marietta Materials, Inc. | 23 | 6,845 |
Consumer Finance — 0.8% | ||
American Express Co. | 126 | 17,400 |
Capital One Financial Corp. | 47 | 4,900 |
22,300 | ||
Containers & Packaging — 0.1% | ||
Avery Dennison Corp. | 27 | 4,420 |
Diversified Financial Services — 1.5% | ||
Berkshire Hathaway, Inc., Class B * (a) | 143 | 39,162 |
Voya Financial, Inc. | 40 | 2,381 |
41,543 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 63 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Diversified Telecommunication Services — 0.2% | ||
Verizon Communications, Inc. | 115 | 5,848 |
Electric Utilities — 1.8% | ||
Evergy, Inc. | 54 | 3,504 |
Exelon Corp. | 442 | 20,049 |
FirstEnergy Corp. | 192 | 7,372 |
NextEra Energy, Inc. | 263 | 20,375 |
51,300 | ||
Electrical Equipment — 0.6% | ||
Eaton Corp. plc | 129 | 16,277 |
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 95 | 2,752 |
Entertainment — 0.5% | ||
Netflix, Inc. * | 51 | 8,828 |
Walt Disney Co. (The) * | 48 | 4,560 |
13,388 | ||
Equity Real Estate Investment Trusts (REITs) — 2.6% | ||
Camden Property Trust | 73 | 9,783 |
Duke Realty Corp. | 34 | 1,888 |
Equinix, Inc. | 13 | 8,178 |
Equity LifeStyle Properties, Inc. | 77 | 5,406 |
Host Hotels & Resorts, Inc. | 232 | 3,640 |
Kimco Realty Corp. | 213 | 4,213 |
Prologis, Inc. | 149 | 17,580 |
SBA Communications Corp. | 19 | 5,915 |
Sun Communities, Inc. | 44 | 7,079 |
UDR, Inc. | 35 | 1,622 |
Ventas, Inc. | 164 | 8,452 |
73,756 | ||
Food & Staples Retailing — 1.2% | ||
Costco Wholesale Corp. | 47 | 22,604 |
Walmart, Inc. | 91 | 11,104 |
33,708 | ||
Food Products — 0.7% | ||
Hershey Co. (The) | 22 | 4,719 |
Mondelez International, Inc., Class A | 252 | 15,624 |
20,343 | ||
Health Care Equipment & Supplies — 2.2% | ||
Abbott Laboratories | 117 | 12,691 |
ABIOMED, Inc. * | 4 | 892 |
Baxter International, Inc. | 181 | 11,623 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Health Care Equipment & Supplies — continued | ||
Boston Scientific Corp. * | 284 | 10,590 |
Dexcom, Inc. * | 30 | 2,269 |
Intuitive Surgical, Inc. * | 59 | 11,916 |
Medtronic plc | 72 | 6,460 |
Zimmer Biomet Holdings, Inc. | 71 | 7,437 |
63,878 | ||
Health Care Providers & Services — 3.4% | ||
Centene Corp. * | 200 | 16,917 |
Elevance Health, Inc. | 35 | 16,699 |
Humana, Inc. | 10 | 4,833 |
McKesson Corp. | 23 | 7,460 |
UnitedHealth Group, Inc. | 97 | 49,839 |
95,748 | ||
Hotels, Restaurants & Leisure — 1.9% | ||
Booking Holdings, Inc. * | 6 | 9,789 |
Chipotle Mexican Grill, Inc. * | 7 | 9,239 |
Expedia Group, Inc. * | 48 | 4,564 |
Hilton Worldwide Holdings, Inc. | 61 | 6,842 |
McDonald's Corp. | 84 | 20,669 |
Royal Caribbean Cruises Ltd. * | 18 | 620 |
Yum! Brands, Inc. | 25 | 2,826 |
54,549 | ||
Household Durables — 0.5% | ||
DR Horton, Inc. | 11 | 747 |
Lennar Corp., Class A | 133 | 9,394 |
PulteGroup, Inc. | 20 | 801 |
Toll Brothers, Inc. | 64 | 2,849 |
13,791 | ||
Household Products — 1.3% | ||
Kimberly-Clark Corp. | 73 | 9,830 |
Procter & Gamble Co. (The) (a) | 199 | 28,593 |
38,423 | ||
Industrial Conglomerates — 0.3% | ||
Honeywell International, Inc. | 49 | 8,448 |
Insurance — 2.1% | ||
Aon plc, Class A | 28 | 7,570 |
Arthur J Gallagher & Co. | 23 | 3,753 |
Hartford Financial Services Group, Inc. (The) | 195 | 12,761 |
Progressive Corp. (The) | 191 | 22,217 |
64 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Insurance — continued | ||
Prudential Financial, Inc. | 26 | 2,466 |
Travelers Cos., Inc. (The) | 63 | 10,679 |
59,446 | ||
Interactive Media & Services — 5.5% | ||
Alphabet, Inc., Class A * | 32 | 69,579 |
Alphabet, Inc., Class C * | 24 | 52,637 |
Meta Platforms, Inc., Class A * | 201 | 32,356 |
ZoomInfo Technologies, Inc., Class A * | 79 | 2,636 |
157,208 | ||
Internet & Direct Marketing Retail — 2.9% | ||
Amazon.com, Inc. * | 794 | 84,309 |
IT Services — 4.2% | ||
Accenture plc, Class A | 89 | 24,730 |
Affirm Holdings, Inc. * | 67 | 1,209 |
Automatic Data Processing, Inc. | 35 | 7,406 |
FleetCor Technologies, Inc. * | 37 | 7,681 |
Mastercard, Inc., Class A | 119 | 37,411 |
Visa, Inc., Class A (a) | 204 | 40,201 |
118,638 | ||
Life Sciences Tools & Services — 1.9% | ||
Danaher Corp. | 83 | 21,010 |
Thermo Fisher Scientific, Inc. | 60 | 32,405 |
53,415 | ||
Machinery — 2.0% | ||
Deere & Co. | 72 | 21,625 |
Dover Corp. | 45 | 5,429 |
Ingersoll Rand, Inc. | 91 | 3,830 |
Otis Worldwide Corp. | 183 | 12,915 |
Parker-Hannifin Corp. | 45 | 11,142 |
Stanley Black & Decker, Inc. | 15 | 1,546 |
56,487 | ||
Media — 1.4% | ||
Charter Communications, Inc., Class A * | 36 | 16,880 |
Comcast Corp., Class A | 518 | 20,323 |
Fox Corp., Class A | 19 | 611 |
Interpublic Group of Cos., Inc. (The) | 33 | 907 |
38,721 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Metals & Mining — 0.2% | ||
Freeport-McMoRan, Inc. | 100 | 2,934 |
Nucor Corp. | 24 | 2,530 |
5,464 | ||
Multiline Retail — 0.1% | ||
Dollar General Corp. | 9 | 2,217 |
Multi-Utilities — 1.0% | ||
Ameren Corp. | 100 | 9,023 |
CenterPoint Energy, Inc. | 280 | 8,267 |
Sempra Energy | 84 | 12,669 |
29,959 | ||
Oil, Gas & Consumable Fuels — 3.9% | ||
Cheniere Energy, Inc. | 31 | 4,075 |
Chevron Corp. | 156 | 22,611 |
ConocoPhillips (a) | 296 | 26,578 |
Diamondback Energy, Inc. | 126 | 15,281 |
EOG Resources, Inc. | 140 | 15,453 |
Exxon Mobil Corp. | 132 | 11,267 |
Phillips 66 | 47 | 3,886 |
Pioneer Natural Resources Co. | 52 | 11,682 |
110,833 | ||
Pharmaceuticals — 3.9% | ||
Bristol-Myers Squibb Co. | 378 | 29,101 |
Eli Lilly & Co. | 91 | 29,610 |
Johnson & Johnson | 171 | 30,366 |
Merck & Co., Inc. | 149 | 13,574 |
Pfizer, Inc. | 173 | 9,080 |
111,731 | ||
Professional Services — 0.4% | ||
Booz Allen Hamilton Holding Corp. | 45 | 4,048 |
Leidos Holdings, Inc. | 89 | 8,943 |
12,991 | ||
Road & Rail — 0.9% | ||
Lyft, Inc., Class A * | 47 | 630 |
Norfolk Southern Corp. | 66 | 15,009 |
Uber Technologies, Inc. * | 56 | 1,145 |
Union Pacific Corp. | 48 | 10,219 |
27,003 | ||
Semiconductors & Semiconductor Equipment — 5.3% | ||
Advanced Micro Devices, Inc. * | 230 | 17,562 |
Analog Devices, Inc. | 150 | 21,855 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 65 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
Applied Materials, Inc. | 25 | 2,277 |
Lam Research Corp. | 41 | 17,391 |
Microchip Technology, Inc. | 160 | 9,297 |
Micron Technology, Inc. | 91 | 5,005 |
NVIDIA Corp. | 183 | 27,796 |
NXP Semiconductors NV (China) | 106 | 15,759 |
QUALCOMM, Inc. | 57 | 7,349 |
Texas Instruments, Inc. | 179 | 27,465 |
151,756 | ||
Software — 8.3% | ||
Adobe, Inc. * | 38 | 13,768 |
Fortinet, Inc. * | 57 | 3,258 |
Intuit, Inc. | 48 | 18,340 |
Microsoft Corp. (a) | 716 | 183,857 |
Oracle Corp. | 85 | 5,919 |
Salesforce, Inc. * | 45 | 7,497 |
Workday, Inc., Class A * | 29 | 4,067 |
236,706 | ||
Specialty Retail — 2.6% | ||
AutoNation, Inc. * | 19 | 2,063 |
AutoZone, Inc. * | 3 | 6,585 |
Best Buy Co., Inc. | 121 | 7,867 |
Burlington Stores, Inc. * | 14 | 1,952 |
Home Depot, Inc. (The) | 32 | 8,821 |
Lowe's Cos., Inc. | 142 | 24,861 |
O'Reilly Automotive, Inc. * | 23 | 14,468 |
TJX Cos., Inc. (The) | 151 | 8,434 |
75,051 | ||
Technology Hardware, Storage & Peripherals — 6.6% | ||
Apple, Inc. (a) | 1,284 | 175,545 |
Seagate Technology Holdings plc | 163 | 11,644 |
187,189 | ||
Textiles, Apparel & Luxury Goods — 0.5% | ||
NIKE, Inc., Class B | 135 | 13,795 |
Tobacco — 0.8% | ||
Altria Group, Inc. | 227 | 9,484 |
Philip Morris International, Inc. | 128 | 12,587 |
22,071 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Wireless Telecommunication Services — 0.5% | ||
T-Mobile US, Inc. * | 100 | 13,520 |
Total Common Stocks (Cost $2,946,892) | 2,629,550 | |
NO. OF CONTRACTS | ||
Options Purchased — 5.4% | ||
Put Options Purchased — 5.4% | ||
Index Funds — 5.4% | ||
S&P 500 Index | ||
8/31/2022 at USD 3,905.00, European Style | ||
Notional Amount: USD 2,692,162 | ||
Counterparty: Exchange-Traded * (Cost $93,533) | 7,112 | 152,908 |
Total Put Options Purchased (Cost $93,533) | 152,908 | |
Total Options Purchased (Cost $93,533) | 152,908 | |
SHARES (000) | ||
Short Term Investments — 2.1% | ||
Investment Companies — 2.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) (Cost $60,717) | 60,717 | 60,717 |
Total Investments — 99.7% (Cost $3,101,142) | 2,843,175 | |
Other Assets Less Liabilities — 0.3% | 8,118 | |
NET ASSETS — 100.0% | 2,851,293 |
Percentages indicated are based on net assets. |
Abbreviations | |
USD | United States Dollar |
* | Non-income producing security. |
(a) | All or a portion of the security is segregated for options written. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
66 | J.P. Morgan Large Cap Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 333 | 09/16/2022 | USD | 63,203 | (303) |
Abbreviations | |
USD | United States Dollar |
Written Call Options Contracts as of June 30, 2022 (amounts in thousands, except number of contracts): | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
S&P 500 Index | Exchange-Traded | 7,112 | USD 2,692,162 | USD 4,350.00 | 8/31/2022 | (5,192) |
Written Put Options Contracts as of June 30, 2022 (amounts in thousands, except number of contracts): | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
S&P 500 Index | Exchange-Traded | 7,112 | USD 2,692,162 | USD 3,300.00 | 8/31/2022 | (26,172) |
Total Written Options Contracts (Premiums Received $81,615) | (31,364) |
Abbreviations | |
USD | United States Dollar |
June 30, 2022 | J.P. Morgan Large Cap Funds | 67 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 94.0% | ||
Air Freight & Logistics — 1.6% | ||
United Parcel Service, Inc., Class B | 2,802 | 511,389 |
Automobiles — 3.7% | ||
Tesla, Inc. * | 1,709 | 1,151,009 |
Banks — 1.2% | ||
SVB Financial Group * | 953 | 376,269 |
Beverages — 3.4% | ||
Coca-Cola Co. (The) | 14,305 | 899,896 |
Monster Beverage Corp. * | 1,833 | 169,961 |
1,069,857 | ||
Biotechnology — 7.9% | ||
AbbVie, Inc. | 7,503 | 1,149,114 |
Alnylam Pharmaceuticals, Inc. * | 119 | 17,342 |
Amgen, Inc. | 1,606 | 390,691 |
Exact Sciences Corp. * | 764 | 30,086 |
Moderna, Inc. * | 172 | 24,570 |
Regeneron Pharmaceuticals, Inc. * | 1,006 | 594,908 |
Seagen, Inc. * | 1,449 | 256,466 |
2,463,177 | ||
Building Products — 0.8% | ||
Trane Technologies plc | 1,952 | 253,510 |
Capital Markets — 5.2% | ||
Blackstone, Inc. | 6,700 | 611,191 |
Charles Schwab Corp. (The) | 9,126 | 576,569 |
Morgan Stanley | 4,502 | 342,437 |
MSCI, Inc. | 201 | 82,884 |
1,613,081 | ||
Chemicals — 0.8% | ||
Sherwin-Williams Co. (The) | 1,144 | 256,153 |
Consumer Finance — 0.4% | ||
Capital One Financial Corp. | 1,192 | 124,205 |
Electrical Equipment — 0.7% | ||
Rockwell Automation, Inc. | 1,137 | 226,665 |
Electronic Equipment, Instruments & Components — 1.0% | ||
Amphenol Corp., Class A | 5,014 | 322,824 |
Health Care Equipment & Supplies — 1.2% | ||
ABIOMED, Inc. * | 182 | 45,121 |
Dexcom, Inc. * | 1,709 | 127,357 |
Intuitive Surgical, Inc. * | 1,021 | 204,910 |
377,388 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Health Care Providers & Services — 6.8% | ||
CVS Health Corp. | 5,402 | 500,522 |
HCA Healthcare, Inc. | 2,541 | 427,135 |
McKesson Corp. | 2,601 | 848,577 |
UnitedHealth Group, Inc. | 692 | 355,293 |
2,131,527 | ||
Hotels, Restaurants & Leisure — 1.8% | ||
Airbnb, Inc., Class A * | 63 | 5,644 |
Chipotle Mexican Grill, Inc. * | 169 | 220,273 |
Marriott International, Inc., Class A | 2,463 | 334,977 |
560,894 | ||
Interactive Media & Services — 7.2% | ||
Alphabet, Inc., Class C * | 956 | 2,090,900 |
Match Group, Inc. * | 460 | 32,052 |
Meta Platforms, Inc., Class A * | 845 | 136,212 |
Snap, Inc., Class A * | 440 | 5,780 |
2,264,944 | ||
Internet & Direct Marketing Retail — 2.0% | ||
Amazon.com, Inc. * | 5,682 | 603,496 |
Etsy, Inc. * | 276 | 20,184 |
MercadoLibre, Inc. (Brazil) * | 15 | 9,620 |
Wayfair, Inc., Class A * (a) | 74 | 3,227 |
636,527 | ||
IT Services — 1.7% | ||
Block, Inc., Class A * | 162 | 9,938 |
Cognizant Technology Solutions Corp., Class A | 4,534 | 305,973 |
International Business Machines Corp. | 1,170 | 165,276 |
MongoDB, Inc. * | 213 | 55,325 |
Shopify, Inc., Class A (Canada) * | 53 | 1,656 |
538,168 | ||
Life Sciences Tools & Services — 0.4% | ||
Thermo Fisher Scientific, Inc. | 225 | 122,434 |
Machinery — 2.7% | ||
Deere & Co. | 2,786 | 834,449 |
Metals & Mining — 1.2% | ||
Freeport-McMoRan, Inc. | 13,084 | 382,834 |
Multiline Retail — 0.7% | ||
Target Corp. | 1,543 | 217,923 |
Oil, Gas & Consumable Fuels — 1.9% | ||
ConocoPhillips | 6,727 | 604,142 |
68 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Personal Products — 0.7% | ||
Estee Lauder Cos., Inc. (The), Class A | 783 | 199,400 |
Pharmaceuticals — 1.7% | ||
Eli Lilly & Co. | 1,675 | 543,118 |
Professional Services — 1.7% | ||
Equifax, Inc. | 1,030 | 188,258 |
Verisk Analytics, Inc. | 2,000 | 346,217 |
534,475 | ||
Semiconductors & Semiconductor Equipment — 5.7% | ||
Advanced Micro Devices, Inc. * | 5,782 | 442,180 |
ASML Holding NV (Registered), NYRS (Netherlands) | 436 | 207,626 |
Enphase Energy, Inc. * | 290 | 56,542 |
Lam Research Corp. | 413 | 176,043 |
NVIDIA Corp. | 3,990 | 604,905 |
Texas Instruments, Inc. | 1,853 | 284,667 |
1,771,963 | ||
Software — 14.4% | ||
HubSpot, Inc. * | 44 | 13,229 |
Intuit, Inc. | 792 | 305,097 |
Microsoft Corp. | 10,985 | 2,821,252 |
Oracle Corp. | 9,422 | 658,308 |
Salesforce, Inc. * | 1,560 | 257,479 |
Synopsys, Inc. * | 1,320 | 401,005 |
Trade Desk, Inc. (The), Class A * | 276 | 11,582 |
Workday, Inc., Class A * | 318 | 44,386 |
4,512,338 | ||
Specialty Retail — 5.7% | ||
AutoZone, Inc. * | 453 | 973,352 |
Carvana Co. * (a) | 179 | 4,044 |
Lowe's Cos., Inc. | 4,574 | 798,884 |
1,776,280 | ||
Technology Hardware, Storage & Peripherals — 9.3% | ||
Apple, Inc. | 21,337 | 2,917,189 |
Textiles, Apparel & Luxury Goods — 0.5% | ||
Tapestry, Inc. | 5,222 | 159,369 |
Total Common Stocks (Cost $24,304,559) | 29,453,501 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short Term Investments — 6.0% | ||
Investment Companies — 6.0% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $1,876,903) | 1,876,514 | 1,876,889 |
Investment of Cash Collateral from Securities Loaned — 0.0% ^ | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (b) (c) | 3,890 | 3,888 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) | 2,552 | 2,551 |
Total Investment of Cash Collateral from Securities Loaned (Cost $6,439) | 6,439 | |
Total Short Term Investments (Cost $1,883,342) | 1,883,328 | |
Total Investments — 100.0% (Cost $26,187,901) | 31,336,829 | |
Other Assets Less Liabilities — 0.0% ^ | 9,869 | |
NET ASSETS — 100.0% | 31,346,698 |
Percentages indicated are based on net assets. |
Abbreviations | |
NYRS | New York Registry Shares |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $5,817. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 69 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 95.9% | ||
Aerospace & Defense — 3.5% | ||
Raytheon Technologies Corp. | 1,009 | 97,033 |
Textron, Inc. | 246 | 15,011 |
112,044 | ||
Air Freight & Logistics — 0.2% | ||
FedEx Corp. | 23 | 5,237 |
Airlines — 1.6% | ||
Delta Air Lines, Inc. * | 1,082 | 31,343 |
Southwest Airlines Co. * | 527 | 19,053 |
50,396 | ||
Banks — 10.4% | ||
Bank of America Corp. | 2,379 | 74,074 |
First Republic Bank | 109 | 15,790 |
M&T Bank Corp. | 395 | 62,908 |
Regions Financial Corp. | 713 | 13,372 |
Truist Financial Corp. | 596 | 28,264 |
US Bancorp | 697 | 32,062 |
Wells Fargo & Co. | 2,734 | 107,075 |
333,545 | ||
Beverages — 2.4% | ||
Coca-Cola Co. (The) | 964 | 60,652 |
Keurig Dr Pepper, Inc. | 483 | 17,107 |
77,759 | ||
Biotechnology — 7.6% | ||
AbbVie, Inc. | 495 | 75,891 |
BioMarin Pharmaceutical, Inc. * | 189 | 15,621 |
Neurocrine Biosciences, Inc. * | 116 | 11,298 |
Regeneron Pharmaceuticals, Inc. * | 113 | 66,738 |
Vertex Pharmaceuticals, Inc. * | 266 | 74,872 |
244,420 | ||
Building Products — 0.8% | ||
Carrier Global Corp. | 699 | 24,937 |
Capital Markets — 1.4% | ||
Intercontinental Exchange, Inc. | 179 | 16,861 |
Morgan Stanley | 206 | 15,638 |
T. Rowe Price Group, Inc. | 106 | 12,009 |
44,508 | ||
Chemicals — 2.3% | ||
Chemours Co. (The) | 245 | 7,852 |
Dow, Inc. | 296 | 15,261 |
DuPont de Nemours, Inc. | 362 | 20,131 |
FMC Corp. | 284 | 30,352 |
73,596 | ||
Communications Equipment — 0.9% | ||
Cisco Systems, Inc. | 702 | 29,938 |
Diversified Financial Services — 1.0% | ||
Berkshire Hathaway, Inc., Class B * | 113 | 30,960 |
Electric Utilities — 3.3% | ||
Exelon Corp. | 1,044 | 47,305 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Electric Utilities — continued | ||
NextEra Energy, Inc. | 332 | 25,693 |
Xcel Energy, Inc. | 460 | 32,564 |
105,562 | ||
Electrical Equipment — 0.4% | ||
Rockwell Automation, Inc. | 65 | 13,015 |
Entertainment — 0.4% | ||
Netflix, Inc. * | 66 | 11,541 |
Equity Real Estate Investment Trusts (REITs) — 5.0% | ||
Equity LifeStyle Properties, Inc. | 923 | 65,008 |
Kite Realty Group Trust | 562 | 9,717 |
Sun Communities, Inc. | 235 | 37,450 |
UDR, Inc. | 244 | 11,252 |
Ventas, Inc. | 340 | 17,497 |
Weyerhaeuser Co. | 538 | 17,809 |
158,733 | ||
Food & Staples Retailing — 3.3% | ||
BJ's Wholesale Club Holdings, Inc. * | 589 | 36,706 |
US Foods Holding Corp. * | 1,025 | 31,442 |
Walmart, Inc. | 320 | 38,881 |
107,029 | ||
Food Products — 1.8% | ||
Bunge Ltd. | 135 | 12,261 |
Lamb Weston Holdings, Inc. | 644 | 46,034 |
58,295 | ||
Health Care Equipment & Supplies — 2.8% | ||
Medtronic plc | 347 | 31,161 |
Zimmer Biomet Holdings, Inc. | 557 | 58,529 |
89,690 | ||
Health Care Providers & Services — 9.5% | ||
Cardinal Health, Inc. | 640 | 33,479 |
Centene Corp. * | 1,098 | 92,877 |
Cigna Corp. | 264 | 69,622 |
HCA Healthcare, Inc. | 80 | 13,394 |
Humana, Inc. | 140 | 65,764 |
McKesson Corp. | 84 | 27,271 |
302,407 | ||
Hotels, Restaurants & Leisure — 0.4% | ||
Royal Caribbean Cruises Ltd. * | 383 | 13,367 |
Household Durables — 0.6% | ||
DR Horton, Inc. | 181 | 11,954 |
KB Home | 216 | 6,162 |
18,116 | ||
Industrial Conglomerates — 1.1% | ||
Honeywell International, Inc. | 198 | 34,432 |
Insurance — 5.0% | ||
Allstate Corp. (The) | 306 | 38,817 |
American International Group, Inc. | 586 | 29,988 |
Hartford Financial Services Group, Inc. (The) | 367 | 24,019 |
70 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Insurance — continued | ||
Progressive Corp. (The) | 297 | 34,509 |
Travelers Cos., Inc. (The) | 190 | 32,067 |
159,400 | ||
Interactive Media & Services — 1.1% | ||
Alphabet, Inc., Class A * | 13 | 28,984 |
Meta Platforms, Inc., Class A * | 48 | 7,724 |
36,708 | ||
IT Services — 2.0% | ||
Fidelity National Information Services, Inc. | 698 | 63,949 |
Machinery — 2.0% | ||
Deere & Co. | 43 | 12,907 |
Parker-Hannifin Corp. | 176 | 43,256 |
Terex Corp. | 316 | 8,645 |
64,808 | ||
Media — 2.8% | ||
Comcast Corp., Class A | 2,257 | 88,549 |
Metals & Mining — 0.9% | ||
Freeport-McMoRan, Inc. | 999 | 29,231 |
Multi-Utilities — 2.4% | ||
Ameren Corp. | 542 | 48,921 |
CenterPoint Energy, Inc. | 968 | 28,642 |
77,563 | ||
Oil, Gas & Consumable Fuels — 10.5% | ||
Chevron Corp. | 706 | 102,171 |
Diamondback Energy, Inc. | 563 | 68,220 |
Exxon Mobil Corp. | 945 | 80,904 |
Hess Corp. | 809 | 85,758 |
337,053 | ||
Pharmaceuticals — 4.5% | ||
Bristol-Myers Squibb Co. | 1,885 | 145,184 |
Professional Services — 0.7% | ||
Leidos Holdings, Inc. | 210 | 21,109 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Specialty Retail — 0.3% | ||
Best Buy Co., Inc. | 128 | 8,357 |
Technology Hardware, Storage & Peripherals — 1.8% | ||
Seagate Technology Holdings plc | 709 | 50,615 |
Western Digital Corp. * | 162 | 7,272 |
57,887 | ||
Textiles, Apparel & Luxury Goods — 1.2% | ||
Kontoor Brands, Inc. | 219 | 7,318 |
Tapestry, Inc. | 964 | 29,406 |
36,724 | ||
Total Common Stocks (Cost $2,919,172) | 3,066,049 | |
Short Term Investments — 4.1% | ||
Investment Companies — 4.1% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) (Cost $130,466) | 130,449 | 130,474 |
Total Investments — 100.0% (Cost $3,049,638) | 3,196,523 | |
Liabilities in Excess of Other Assets — (0.0)% ^ | (505) | |
NET ASSETS — 100.0% | 3,196,018 |
Percentages indicated are based on net assets. |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 71 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 98.4% | ||
Aerospace & Defense — 1.8% | ||
Northrop Grumman Corp. | 7 | 3,417 |
Auto Components — 0.5% | ||
Lear Corp. | 8 | 1,012 |
Banks — 8.8% | ||
Bank of America Corp. | 131 | 4,084 |
Citigroup, Inc. | 52 | 2,403 |
Citizens Financial Group, Inc. | 39 | 1,391 |
M&T Bank Corp. | 15 | 2,298 |
PNC Financial Services Group, Inc. (The) | 18 | 2,868 |
Wells Fargo & Co. | 102 | 3,981 |
Western Alliance Bancorp | 3 | 213 |
17,238 | ||
Beverages — 2.2% | ||
Coca-Cola Co. (The) | 70 | 4,382 |
Biotechnology — 2.6% | ||
AbbVie, Inc. | 20 | 3,086 |
Vertex Pharmaceuticals, Inc. * | 8 | 2,088 |
5,174 | ||
Building Products — 1.5% | ||
Johnson Controls International plc | 29 | 1,384 |
Trane Technologies plc | 12 | 1,571 |
2,955 | ||
Capital Markets — 5.1% | ||
BlackRock, Inc. | 6 | 3,493 |
CME Group, Inc. | 6 | 1,206 |
Morgan Stanley | 49 | 3,709 |
T. Rowe Price Group, Inc. | 13 | 1,560 |
9,968 | ||
Chemicals — 2.6% | ||
Axalta Coating Systems Ltd. * | 82 | 1,818 |
DuPont de Nemours, Inc. | 29 | 1,613 |
Linde plc (United Kingdom) | 6 | 1,610 |
5,041 | ||
Consumer Finance — 1.3% | ||
Ally Financial, Inc. | 29 | 979 |
Capital One Financial Corp. | 7 | 703 |
Synchrony Financial | 30 | 830 |
2,512 | ||
Containers & Packaging — 0.5% | ||
Berry Global Group, Inc. * | 19 | 1,050 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Diversified Financial Services — 1.1% | ||
Berkshire Hathaway, Inc., Class B * | 8 | 2,218 |
Diversified Telecommunication Services — 2.3% | ||
Verizon Communications, Inc. | 90 | 4,543 |
Electric Utilities — 4.5% | ||
Constellation Energy Corp. | 17 | 975 |
Exelon Corp. | 51 | 2,324 |
NextEra Energy, Inc. | 72 | 5,574 |
8,873 | ||
Electrical Equipment — 1.9% | ||
Eaton Corp. plc | 29 | 3,716 |
Equity Real Estate Investment Trusts (REITs) — 3.2% | ||
Host Hotels & Resorts, Inc. | 49 | 775 |
Prologis, Inc. | 39 | 4,580 |
Ventas, Inc. | 19 | 968 |
6,323 | ||
Food & Staples Retailing — 0.7% | ||
Sysco Corp. | 17 | 1,426 |
Food Products — 2.0% | ||
Mondelez International, Inc., Class A | 44 | 2,739 |
Tyson Foods, Inc., Class A | 14 | 1,205 |
3,944 | ||
Health Care Equipment & Supplies — 2.3% | ||
Becton Dickinson and Co. | 5 | 1,253 |
Medtronic plc | 37 | 3,318 |
4,571 | ||
Health Care Providers & Services — 4.9% | ||
Centene Corp. * | 23 | 1,982 |
Cigna Corp. | 13 | 3,424 |
Elevance Health, Inc. | 5 | 2,483 |
UnitedHealth Group, Inc. | 4 | 1,796 |
9,685 | ||
Hotels, Restaurants & Leisure — 0.8% | ||
Expedia Group, Inc. * | 7 | 645 |
Royal Caribbean Cruises Ltd. * | 5 | 172 |
Travel + Leisure Co. | 19 | 757 |
1,574 |
72 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Household Durables — 0.7% | ||
PulteGroup, Inc. | 9 | 345 |
Whirlpool Corp. | 6 | 958 |
1,303 | ||
Household Products — 1.5% | ||
Procter & Gamble Co. (The) | 12 | 1,761 |
Spectrum Brands Holdings, Inc. | 14 | 1,093 |
2,854 | ||
Insurance — 3.1% | ||
Loews Corp. | 48 | 2,841 |
Travelers Cos., Inc. (The) | 19 | 3,241 |
6,082 | ||
Interactive Media & Services — 4.1% | ||
Alphabet, Inc., Class C * | 2 | 4,106 |
Meta Platforms, Inc., Class A * | 25 | 4,013 |
8,119 | ||
IT Services — 2.3% | ||
Amdocs Ltd. | 13 | 1,083 |
Fidelity National Information Services, Inc. | 13 | 1,183 |
Fiserv, Inc. * | 7 | 653 |
Mastercard, Inc., Class A | 4 | 1,096 |
SS&C Technologies Holdings, Inc. | 8 | 488 |
4,503 | ||
Life Sciences Tools & Services — 0.6% | ||
Agilent Technologies, Inc. | 10 | 1,245 |
Machinery — 3.1% | ||
Deere & Co. | 3 | 1,040 |
Dover Corp. | 21 | 2,490 |
Parker-Hannifin Corp. | 10 | 2,573 |
6,103 | ||
Media — 1.9% | ||
Charter Communications, Inc., Class A * | 3 | 1,255 |
Comcast Corp., Class A | 64 | 2,518 |
3,773 | ||
Multiline Retail — 0.6% | ||
Target Corp. | 9 | 1,208 |
Multi-Utilities — 1.9% | ||
Ameren Corp. | 13 | 1,156 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Multi-Utilities — continued | ||
CMS Energy Corp. | 21 | 1,424 |
WEC Energy Group, Inc. | 10 | 1,067 |
3,647 | ||
Oil, Gas & Consumable Fuels — 8.0% | ||
Cheniere Energy, Inc. | 13 | 1,794 |
Chevron Corp. | 16 | 2,255 |
ConocoPhillips | 58 | 5,168 |
Coterra Energy, Inc. | 72 | 1,861 |
EOG Resources, Inc. | 31 | 3,400 |
Exxon Mobil Corp. | 7 | 617 |
Phillips 66 | 8 | 650 |
15,745 | ||
Pharmaceuticals — 7.0% | ||
Bristol-Myers Squibb Co. | 69 | 5,344 |
Eli Lilly & Co. | 8 | 2,725 |
Jazz Pharmaceuticals plc * | 10 | 1,472 |
Johnson & Johnson | 14 | 2,450 |
Merck & Co., Inc. | 19 | 1,723 |
13,714 | ||
Professional Services — 0.4% | ||
Booz Allen Hamilton Holding Corp. | 8 | 722 |
Real Estate Management & Development — 0.7% | ||
CBRE Group, Inc., Class A * | 17 | 1,255 |
Road & Rail — 3.0% | ||
CSX Corp. | 70 | 2,045 |
Norfolk Southern Corp. | 17 | 3,838 |
5,883 | ||
Semiconductors & Semiconductor Equipment — 3.4% | ||
Analog Devices, Inc. | 16 | 2,303 |
NXP Semiconductors NV (China) | 4 | 675 |
QUALCOMM, Inc. | 8 | 994 |
Texas Instruments, Inc. | 18 | 2,749 |
6,721 | ||
Software — 1.0% | ||
Microsoft Corp. | 8 | 2,035 |
Specialty Retail — 3.3% | ||
AutoZone, Inc. * | 1 | 2,686 |
Lowe's Cos., Inc. | 7 | 1,152 |
O'Reilly Automotive, Inc. * | 4 | 2,522 |
6,360 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 73 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Technology Hardware, Storage & Peripherals — 0.2% | ||
Xerox Holdings Corp. | 30 | 449 |
Tobacco — 1.0% | ||
Altria Group, Inc. | 48 | 1,991 |
Total Common Stocks (Cost $173,950) | 193,334 | |
Short Term Investments — 1.5% | ||
Investment Companies — 1.5% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) (Cost $2,967) | 2,966 | 2,967 |
Total Investments — 99.9% (Cost $176,917) | 196,301 | |
Other Assets Less Liabilities — 0.1% | 197 | |
NET ASSETS — 100.0% | 196,498 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 17 | 09/16/2022 | USD | 3,227 | 104 |
Abbreviations | |
USD | United States Dollar |
74 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 96.6% | ||
Aerospace & Defense — 2.1% | ||
Northrop Grumman Corp. | 806 | 385,475 |
Automobiles — 1.2% | ||
Tesla, Inc. * | 330 | 221,982 |
Banks — 4.8% | ||
Truist Financial Corp. | 9,588 | 454,742 |
US Bancorp | 2,175 | 100,084 |
Wells Fargo & Co. | 8,832 | 345,953 |
900,779 | ||
Beverages — 2.1% | ||
Coca-Cola Co. (The) | 6,193 | 389,616 |
Biotechnology — 6.5% | ||
AbbVie, Inc. | 4,533 | 694,265 |
Regeneron Pharmaceuticals, Inc. * | 673 | 397,696 |
Vertex Pharmaceuticals, Inc. * | 413 | 116,372 |
1,208,333 | ||
Building Products — 1.3% | ||
Trane Technologies plc | 1,884 | 244,705 |
Capital Markets — 4.6% | ||
Ameriprise Financial, Inc. | 810 | 192,637 |
Morgan Stanley | 4,625 | 351,798 |
S&P Global, Inc. | 900 | 303,232 |
847,667 | ||
Chemicals — 2.5% | ||
Eastman Chemical Co. | 2,109 | 189,371 |
PPG Industries, Inc. | 2,401 | 274,518 |
463,889 | ||
Construction Materials — 0.9% | ||
Vulcan Materials Co. | 1,133 | 161,056 |
Diversified Telecommunication Services — 2.3% | ||
Verizon Communications, Inc. | 8,420 | 427,290 |
Electric Utilities — 4.8% | ||
NextEra Energy, Inc. | 7,684 | 595,207 |
Xcel Energy, Inc. | 4,297 | 304,078 |
899,285 | ||
Electrical Equipment — 2.5% | ||
Eaton Corp. plc | 3,724 | 469,187 |
Energy Equipment & Services — 1.3% | ||
Baker Hughes Co. | 8,641 | 249,470 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Equity Real Estate Investment Trusts (REITs) — 3.0% | ||
Prologis, Inc. | 4,791 | 563,684 |
Health Care Equipment & Supplies — 2.8% | ||
Boston Scientific Corp. * | 9,658 | 359,943 |
Intuitive Surgical, Inc. * | 795 | 159,542 |
519,485 | ||
Health Care Providers & Services — 3.1% | ||
Centene Corp. * | 5,265 | 445,424 |
UnitedHealth Group, Inc. | 264 | 135,788 |
581,212 | ||
Hotels, Restaurants & Leisure — 3.9% | ||
Marriott International, Inc., Class A | 967 | 131,568 |
McDonald's Corp. | 2,389 | 589,722 |
721,290 | ||
Insurance — 0.7% | ||
Progressive Corp. (The) | 1,129 | 131,295 |
Interactive Media & Services — 7.1% | ||
Alphabet, Inc., Class A * | 514 | 1,120,710 |
Meta Platforms, Inc., Class A * | 837 | 134,869 |
Snap, Inc., Class A * | 4,459 | 58,544 |
1,314,123 | ||
Internet & Direct Marketing Retail — 3.7% | ||
Amazon.com, Inc. * | 6,458 | 685,852 |
IT Services — 2.4% | ||
Mastercard, Inc., Class A | 1,432 | 451,760 |
Machinery — 2.5% | ||
Deere & Co. | 1,526 | 457,066 |
Multiline Retail — 1.5% | ||
Dollar General Corp. | 1,098 | 269,501 |
Oil, Gas & Consumable Fuels — 1.7% | ||
Pioneer Natural Resources Co. | 1,424 | 317,648 |
Pharmaceuticals — 2.9% | ||
Bristol-Myers Squibb Co. | 6,887 | 530,324 |
Professional Services — 0.9% | ||
Leidos Holdings, Inc. | 1,740 | 175,229 |
Road & Rail — 2.9% | ||
Norfolk Southern Corp. | 1,758 | 399,481 |
Uber Technologies, Inc. * | 6,533 | 133,671 |
533,152 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 75 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — 5.5% | ||
Advanced Micro Devices, Inc. * | 3,353 | 256,402 |
Analog Devices, Inc. | 1,308 | 191,068 |
NXP Semiconductors NV (China) | 3,322 | 491,687 |
Teradyne, Inc. | 998 | 89,409 |
1,028,566 | ||
Software — 7.9% | ||
Microsoft Corp. | 5,754 | 1,477,751 |
Specialty Retail — 1.5% | ||
Lowe's Cos., Inc. | 976 | 170,528 |
O'Reilly Automotive, Inc. * | 173 | 109,344 |
279,872 | ||
Technology Hardware, Storage & Peripherals — 4.7% | ||
Apple, Inc. | 6,377 | 871,897 |
Textiles, Apparel & Luxury Goods — 1.0% | ||
NIKE, Inc., Class B | 1,896 | 193,795 |
Total Common Stocks (Cost $12,757,261) | 17,972,236 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short Term Investments — 3.2% | ||
Investment Companies — 3.2% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) (Cost $594,247) | 594,157 | 594,276 |
Total Investments — 99.8% (Cost $13,351,508) | 18,566,512 | |
Other Assets Less Liabilities — 0.2% | 40,397 | |
NET ASSETS — 100.0% | 18,606,909 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 1,325 | 09/16/2022 | USD | 251,485 | 5,370 |
Abbreviations | |
USD | United States Dollar |
76 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 95.9% | ||
Aerospace & Defense — 0.6% | ||
Textron, Inc. | 98 | 6,003 |
Air Freight & Logistics — 0.3% | ||
United Parcel Service, Inc., Class B | 18 | 3,249 |
Automobiles — 3.1% | ||
Rivian Automotive, Inc., Class A * (a) | 42 | 1,082 |
Tesla, Inc. * | 43 | 28,890 |
29,972 | ||
Banks — 0.4% | ||
SVB Financial Group * | 10 | 3,831 |
Beverages — 2.4% | ||
Coca-Cola Co. (The) | 156 | 9,833 |
Monster Beverage Corp. * | 52 | 4,802 |
PepsiCo, Inc. | 51 | 8,449 |
23,084 | ||
Biotechnology — 3.8% | ||
AbbVie, Inc. | 152 | 23,350 |
Regeneron Pharmaceuticals, Inc. * | 10 | 5,675 |
Vertex Pharmaceuticals, Inc. * | 28 | 7,777 |
36,802 | ||
Building Products — 0.9% | ||
Fortune Brands Home & Security, Inc. | 32 | 1,934 |
Trane Technologies plc | 54 | 6,987 |
8,921 | ||
Capital Markets — 0.9% | ||
Charles Schwab Corp. (The) | 61 | 3,880 |
S&P Global, Inc. | 15 | 5,022 |
8,902 | ||
Chemicals — 0.6% | ||
Linde plc (United Kingdom) | 21 | 5,952 |
Commercial Services & Supplies — 0.7% | ||
Waste Management, Inc. | 47 | 7,190 |
Construction & Engineering — 0.3% | ||
Quanta Services, Inc. | 20 | 2,544 |
Consumer Finance — 0.3% | ||
Capital One Financial Corp. | 26 | 2,688 |
Electronic Equipment, Instruments & Components — 0.6% | ||
Keysight Technologies, Inc. * | 45 | 6,203 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Entertainment — 1.2% | ||
Electronic Arts, Inc. | 49 | 6,021 |
Netflix, Inc. * | 34 | 5,924 |
11,945 | ||
Equity Real Estate Investment Trusts (REITs) — 1.8% | ||
Equinix, Inc. | 6 | 3,745 |
Gaming and Leisure Properties, Inc. | 79 | 3,637 |
Host Hotels & Resorts, Inc. | 175 | 2,741 |
Prologis, Inc. | 41 | 4,765 |
Sun Communities, Inc. | 15 | 2,438 |
17,326 | ||
Food & Staples Retailing — 1.2% | ||
Costco Wholesale Corp. | 24 | 11,503 |
Performance Food Group Co. * | 7 | 344 |
11,847 | ||
Food Products — 0.3% | ||
Hershey Co. (The) | 15 | 3,335 |
Health Care Equipment & Supplies — 1.2% | ||
Align Technology, Inc. * | 12 | 2,864 |
Boston Scientific Corp. * | 231 | 8,594 |
11,458 | ||
Health Care Providers & Services — 4.2% | ||
Elevance Health, Inc. | 18 | 8,493 |
Humana, Inc. | 14 | 6,717 |
UnitedHealth Group, Inc. | 51 | 26,144 |
41,354 | ||
Hotels, Restaurants & Leisure — 2.9% | ||
Airbnb, Inc., Class A * | 29 | 2,635 |
Chipotle Mexican Grill, Inc. * | 5 | 6,602 |
Domino's Pizza, Inc. | 9 | 3,351 |
Expedia Group, Inc. * | 49 | 4,647 |
Marriott International, Inc., Class A | 28 | 3,795 |
McDonald's Corp. | 31 | 7,579 |
28,609 | ||
Household Durables — 0.6% | ||
Toll Brothers, Inc. | 126 | 5,602 |
Insurance — 0.7% | ||
Aon plc, Class A | 9 | 2,481 |
Arch Capital Group Ltd. * | 84 | 3,812 |
6,293 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 77 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Interactive Media & Services — 6.3% | ||
Alphabet, Inc., Class A * | 12 | 26,369 |
Alphabet, Inc., Class C * | 12 | 25,812 |
Meta Platforms, Inc., Class A * | 58 | 9,433 |
61,614 | ||
Internet & Direct Marketing Retail — 5.2% | ||
Amazon.com, Inc. * | 476 | 50,556 |
IT Services — 5.5% | ||
Accenture plc, Class A | 36 | 10,023 |
Automatic Data Processing, Inc. | 17 | 3,571 |
Fidelity National Information Services, Inc. | 2 | 168 |
Mastercard, Inc., Class A | 98 | 30,949 |
Visa, Inc., Class A | 44 | 8,762 |
53,473 | ||
Life Sciences Tools & Services — 2.6% | ||
Agilent Technologies, Inc. | 37 | 4,442 |
IQVIA Holdings, Inc. * | 19 | 4,058 |
Thermo Fisher Scientific, Inc. | 25 | 13,419 |
Waters Corp. * | 9 | 3,045 |
24,964 | ||
Machinery — 1.3% | ||
Deere & Co. | 10 | 2,995 |
Ingersoll Rand, Inc. | 66 | 2,761 |
Otis Worldwide Corp. | 51 | 3,611 |
Parker-Hannifin Corp. | 15 | 3,715 |
13,082 | ||
Media — 0.6% | ||
Charter Communications, Inc., Class A * | 12 | 5,786 |
Metals & Mining — 0.6% | ||
Freeport-McMoRan, Inc. | 94 | 2,756 |
Steel Dynamics, Inc. | 43 | 2,851 |
5,607 | ||
Oil, Gas & Consumable Fuels — 1.6% | ||
Cheniere Energy, Inc. | 83 | 11,068 |
EOG Resources, Inc. | 40 | 4,407 |
15,475 | ||
Pharmaceuticals — 1.3% | ||
Bristol-Myers Squibb Co. | 40 | 3,041 |
Zoetis, Inc. | 57 | 9,884 |
12,925 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Real Estate Management & Development — 0.3% | ||
Jones Lang LaSalle, Inc. * | 19 | 3,252 |
Road & Rail — 2.0% | ||
CSX Corp. | 149 | 4,318 |
Knight-Swift Transportation Holdings, Inc. | 41 | 1,912 |
Lyft, Inc., Class A * | 132 | 1,755 |
Norfolk Southern Corp. | 15 | 3,296 |
Old Dominion Freight Line, Inc. | 22 | 5,741 |
Uber Technologies, Inc. * | 122 | 2,492 |
19,514 | ||
Semiconductors & Semiconductor Equipment — 6.2% | ||
Advanced Micro Devices, Inc. * | 139 | 10,606 |
Lam Research Corp. | 25 | 10,526 |
NVIDIA Corp. | 80 | 12,188 |
NXP Semiconductors NV (China) | 51 | 7,475 |
QUALCOMM, Inc. | 82 | 10,475 |
Texas Instruments, Inc. | 60 | 9,296 |
60,566 | ||
Software — 17.0% | ||
Adobe, Inc. * | 15 | 5,638 |
Cadence Design Systems, Inc. * | 65 | 9,677 |
Ceridian HCM Holding, Inc. * | 49 | 2,298 |
Coupa Software, Inc. * | 47 | 2,684 |
Dropbox, Inc., Class A * | 306 | 6,429 |
Fortinet, Inc. * | 45 | 2,546 |
HubSpot, Inc. * | 3 | 962 |
Intuit, Inc. | 38 | 14,512 |
Microsoft Corp. | 396 | 101,807 |
Palo Alto Networks, Inc. * | 24 | 11,706 |
VMware, Inc., Class A | 19 | 2,132 |
Workday, Inc., Class A * | 37 | 5,206 |
165,597 | ||
Specialty Retail — 3.7% | ||
Bath & Body Works, Inc. | 91 | 2,439 |
Best Buy Co., Inc. | 55 | 3,611 |
Burlington Stores, Inc. * | 36 | 4,891 |
Lowe's Cos., Inc. | 82 | 14,410 |
O'Reilly Automotive, Inc. * | 18 | 11,119 |
36,470 | ||
Technology Hardware, Storage & Peripherals — 10.7% | ||
Apple, Inc. | 691 | 94,447 |
78 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Technology Hardware, Storage & Peripherals — continued | ||
Hewlett Packard Enterprise Co. | 250 | 3,319 |
Seagate Technology Holdings plc | 92 | 6,580 |
104,346 | ||
Textiles, Apparel & Luxury Goods — 0.8% | ||
NIKE, Inc., Class B | 76 | 7,788 |
Tobacco — 0.7% | ||
Philip Morris International, Inc. | 65 | 6,418 |
Trading Companies & Distributors — 0.5% | ||
United Rentals, Inc. * | ��� 22 | 5,271 |
Total Common Stocks (Cost $687,640) | 935,814 | |
Short Term Investments — 4.0% | ||
Investment Companies — 3.9% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $38,481) | 38,475 | 38,483 |
Investment of Cash Collateral from Securities Loaned — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) (Cost $638) | 638 | 638 |
Total Short Term Investments (Cost $39,119) | 39,121 | |
Total Investments — 99.9% (Cost $726,759) | 974,935 | |
Other Assets Less Liabilities — 0.1% | 1,214 | |
NET ASSETS — 100.0% | 976,149 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $587. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 200 | 09/16/2022 | USD | 37,960 | (1,059) |
Abbreviations | |
USD | United States Dollar |
June 30, 2022 | J.P. Morgan Large Cap Funds | 79 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Long Positions — 122.5% | ||
Common Stocks — 122.1% | ||
Aerospace & Defense — 3.3% | ||
Howmet Aerospace, Inc. | 380 | 11,960 |
Northrop Grumman Corp. (a) | 33 | 15,782 |
Raytheon Technologies Corp. | 272 | 26,086 |
53,828 | ||
Air Freight & Logistics — 0.8% | ||
United Parcel Service, Inc., Class B | 72 | 13,122 |
Auto Components — 0.1% | ||
Aptiv plc * | 19 | 1,721 |
Banks — 5.9% | ||
Bank of America Corp. (a) | 973 | 30,299 |
SVB Financial Group * | 31 | 12,062 |
Truist Financial Corp. | 372 | 17,651 |
Wells Fargo & Co. (a) | 951 | 37,252 |
97,264 | ||
Beverages — 3.7% | ||
Coca-Cola Co. (The) (a) | 380 | 23,891 |
Constellation Brands, Inc., Class A | 24 | 5,553 |
Monster Beverage Corp. * | 162 | 15,020 |
PepsiCo, Inc. (a) | 93 | 15,493 |
59,957 | ||
Biotechnology — 5.8% | ||
AbbVie, Inc. (a) | 274 | 42,017 |
BioMarin Pharmaceutical, Inc. * | 70 | 5,767 |
Neurocrine Biosciences, Inc. * | 82 | 7,991 |
Regeneron Pharmaceuticals, Inc. * | 36 | 21,528 |
Sarepta Therapeutics, Inc. * | 24 | 1,794 |
Vertex Pharmaceuticals, Inc. * | 54 | 15,197 |
94,294 | ||
Building Products — 0.9% | ||
Trane Technologies plc | 111 | 14,418 |
Capital Markets — 1.3% | ||
Ameriprise Financial, Inc. | 7 | 1,719 |
CME Group, Inc. | 34 | 6,899 |
Morgan Stanley (a) | 56 | 4,220 |
S&P Global, Inc. | 24 | 8,174 |
21,012 | ||
Chemicals — 2.4% | ||
Air Products and Chemicals, Inc. | 31 | 7,575 |
DuPont de Nemours, Inc. | 69 | 3,821 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Chemicals — continued | ||
Eastman Chemical Co. | 57 | 5,079 |
Linde plc (United Kingdom) | 68 | 19,655 |
PPG Industries, Inc. | 25 | 2,820 |
38,950 | ||
Commercial Services & Supplies — 0.3% | ||
Republic Services, Inc. | 21 | 2,812 |
Waste Connections, Inc. | 23 | 2,832 |
5,644 | ||
Communications Equipment — 0.1% | ||
Juniper Networks, Inc. | 32 | 919 |
Construction Materials — 0.6% | ||
Martin Marietta Materials, Inc. | 30 | 8,942 |
Diversified Financial Services — 0.2% | ||
Voya Financial, Inc. | 54 | 3,233 |
Electric Utilities — 2.1% | ||
Exelon Corp. | 396 | 17,970 |
NextEra Energy, Inc. | 168 | 13,023 |
Xcel Energy, Inc. | 44 | 3,086 |
34,079 | ||
Electrical Equipment — 1.0% | ||
Eaton Corp. plc | 132 | 16,627 |
Electronic Equipment, Instruments & Components — 0.6% | ||
Corning, Inc. | 53 | 1,668 |
Keysight Technologies, Inc. * | 59 | 8,157 |
9,825 | ||
Energy Equipment & Services — 0.6% | ||
Baker Hughes Co. (a) | 364 | 10,504 |
Entertainment — 0.9% | ||
Endeavor Group Holdings, Inc., Class A * | 624 | 12,842 |
Take-Two Interactive Software, Inc. * | 14 | 1,695 |
14,537 | ||
Equity Real Estate Investment Trusts (REITs) — 3.0% | ||
American Homes 4 Rent, Class A | 120 | 4,240 |
Camden Property Trust | 39 | 5,186 |
Equinix, Inc. | 4 | 2,816 |
Prologis, Inc. | 121 | 14,283 |
Sun Communities, Inc. | 66 | 10,563 |
UDR, Inc. | 72 | 3,309 |
80 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Long Positions — continued | ||
Common Stocks — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
Ventas, Inc. | 123 | 6,329 |
Cousins Properties, Inc. | 98 | 2,852 |
49,578 | ||
Food & Staples Retailing — 1.1% | ||
Costco Wholesale Corp. | 37 | 17,834 |
Food Products — 1.3% | ||
Hershey Co. (The) | 43 | 9,256 |
Mondelez International, Inc., Class A (a) | 199 | 12,324 |
21,580 | ||
Health Care Equipment & Supplies — 2.7% | ||
Abbott Laboratories | 92 | 9,966 |
Boston Scientific Corp. * (a) | 626 | 23,328 |
Intuitive Surgical, Inc. * | 22 | 4,485 |
Zimmer Biomet Holdings, Inc. | 59 | 6,166 |
43,945 | ||
Health Care Providers & Services — 5.7% | ||
Centene Corp. * | 271 | 22,947 |
CVS Health Corp. (a) | 101 | 9,398 |
Humana, Inc. | 7 | 3,106 |
UnitedHealth Group, Inc. (a) | 113 | 57,974 |
93,425 | ||
Hotels, Restaurants & Leisure — 3.8% | ||
Booking Holdings, Inc. * | 7 | 12,714 |
Chipotle Mexican Grill, Inc. * | 7 | 9,527 |
Hilton Worldwide Holdings, Inc. | 44 | 4,887 |
Marriott International, Inc., Class A | 29 | 3,990 |
McDonald's Corp. | 112 | 27,611 |
Yum! Brands, Inc. | 25 | 2,778 |
61,507 | ||
Household Durables — 0.4% | ||
Toll Brothers, Inc. | 156 | 6,958 |
Household Products — 0.8% | ||
Procter & Gamble Co. (The) (a) | 96 | 13,824 |
Industrial Conglomerates — 1.1% | ||
Honeywell International, Inc. | 101 | 17,585 |
Insurance — 2.6% | ||
Aon plc, Class A | 15 | 3,991 |
Arthur J Gallagher & Co. | 49 | 7,941 |
MetLife, Inc. | 47 | 2,933 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Insurance — continued | ||
Progressive Corp. (The) | 216 | 25,143 |
Prudential Financial, Inc. | 25 | 2,427 |
42,435 | ||
Interactive Media & Services — 6.3% | ||
Alphabet, Inc., Class C * | 7 | 14,627 |
Alphabet, Inc., Class A * | 28 | 61,392 |
Meta Platforms, Inc., Class A * (a) | 156 | 25,264 |
Snap, Inc., Class A * | 132 | 1,729 |
103,012 | ||
Internet & Direct Marketing Retail — 4.7% | ||
Amazon.com, Inc. * | 731 | 77,657 |
IT Services — 5.6% | ||
Automatic Data Processing, Inc. | 39 | 8,141 |
Mastercard, Inc., Class A (a) | 223 | 70,483 |
WEX, Inc. * | 83 | 12,858 |
�� | 91,482 | |
Life Sciences Tools & Services — 2.6% | ||
Danaher Corp. | 37 | 9,486 |
Thermo Fisher Scientific, Inc. (a) | 60 | 32,354 |
41,840 | ||
Machinery — 3.2% | ||
Deere & Co. | 96 | 28,762 |
Ingersoll Rand, Inc. | 342 | 14,379 |
Otis Worldwide Corp. | 90 | 6,349 |
Parker-Hannifin Corp. | 9 | 2,384 |
51,874 | ||
Media — 1.6% | ||
Charter Communications, Inc., Class A * (a) | 22 | 10,563 |
Comcast Corp., Class A (a) | 357 | 14,013 |
Liberty Media Corp.-Liberty SiriusXM, Class A * | 62 | 2,224 |
26,800 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 232 | 6,803 |
Multi-Utilities — 2.1% | ||
Ameren Corp. | 230 | 20,806 |
CenterPoint Energy, Inc. | 200 | 5,904 |
Dominion Energy, Inc. | 53 | 4,252 |
Sempra Energy | 21 | 3,115 |
34,077 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 81 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Long Positions — continued | ||
Common Stocks — continued | ||
Oil, Gas & Consumable Fuels — 5.4% | ||
Chevron Corp. | 148 | 21,405 |
ConocoPhillips (a) | 338 | 30,380 |
Coterra Energy, Inc. | 84 | 2,166 |
Diamondback Energy, Inc. | 147 | 17,816 |
EOG Resources, Inc. | 35 | 3,893 |
Exxon Mobil Corp. | 17 | 1,444 |
Phillips 66 | 40 | 3,273 |
Pioneer Natural Resources Co. (a) | 38 | 8,495 |
88,872 | ||
Personal Products — 0.5% | ||
Estee Lauder Cos., Inc. (The), Class A | 32 | 8,103 |
Pharmaceuticals — 3.6% | ||
Bristol-Myers Squibb Co. (a) | 366 | 28,204 |
Eli Lilly & Co. (a) | 75 | 24,223 |
Johnson & Johnson | 33 | 5,808 |
58,235 | ||
Professional Services — 1.2% | ||
Booz Allen Hamilton Holding Corp. | 101 | 9,138 |
Leidos Holdings, Inc. | 107 | 10,736 |
19,874 | ||
Road & Rail — 3.8% | ||
Canadian National Railway Co. (Canada) | 35 | 3,933 |
CSX Corp. | 165 | 4,805 |
Knight-Swift Transportation Holdings, Inc. | 52 | 2,380 |
Norfolk Southern Corp. (a) | 112 | 25,388 |
Old Dominion Freight Line, Inc. | 36 | 9,263 |
Uber Technologies, Inc. * | 469 | 9,596 |
Union Pacific Corp. (a) | 35 | 7,487 |
62,852 | ||
Semiconductors & Semiconductor Equipment — 8.5% | ||
Advanced Micro Devices, Inc. * | 250 | 19,142 |
Analog Devices, Inc. (a) | 147 | 21,448 |
Lam Research Corp. | 36 | 15,163 |
Marvell Technology, Inc. | 34 | 1,489 |
Microchip Technology, Inc. | 40 | 2,326 |
NVIDIA Corp. (a) | 93 | 14,103 |
NXP Semiconductors NV (China) | 324 | 47,921 |
ON Semiconductor Corp. * | 34 | 1,718 |
Skyworks Solutions, Inc. | 16 | 1,471 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Semiconductors & Semiconductor Equipment — continued | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan) | 9 | 748 |
Teradyne, Inc. | 146 | 13,088 |
138,617 | ||
Software — 8.7% | ||
Adobe, Inc. * | 9 | 3,351 |
DocuSign, Inc. * | 42 | 2,389 |
Intuit, Inc. | 33 | 12,512 |
Microsoft Corp. (a) | 435 | 111,800 |
Workday, Inc., Class A * | 92 | 12,876 |
142,928 | ||
Specialty Retail — 3.6% | ||
Lowe's Cos., Inc. | 138 | 24,113 |
O'Reilly Automotive, Inc. * (a) | 39 | 24,656 |
TJX Cos., Inc. (The) | 185 | 10,317 |
59,086 | ||
Technology Hardware, Storage & Peripherals — 5.9% | ||
Apple, Inc. (a) | 535 | 73,060 |
Dell Technologies, Inc., Class C | 57 | 2,647 |
Hewlett Packard Enterprise Co. | 81 | 1,076 |
Seagate Technology Holdings plc | 246 | 17,573 |
Western Digital Corp. * | 42 | 1,882 |
96,238 | ||
Textiles, Apparel & Luxury Goods — 0.4% | ||
NIKE, Inc., Class B | 71 | 7,267 |
Wireless Telecommunication Services — 0.9% | ||
T-Mobile US, Inc. * | 111 | 14,940 |
Total Common Stocks (Cost $1,226,944) | 1,998,104 | |
Short-Term Investments — 0.4% | ||
Investment Companies — 0.4% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c)(Cost $6,679) | 6,678 | 6,679 |
Total Long Positions (Cost $1,233,623) | 2,004,783 |
82 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short Positions — (22.6)% | ||
Common Stocks — (22.6)% | ||
Aerospace & Defense — (0.5)% | ||
Hexcel Corp. | (31) | (1,587) |
Huntington Ingalls Industries, Inc. | (27) | (5,924) |
(7,511) | ||
Air Freight & Logistics — (0.4)% | ||
CH Robinson Worldwide, Inc. | (67) | (6,751) |
Auto Components — (0.4)% | ||
Autoliv, Inc. (Sweden) | (39) | (2,785) |
BorgWarner, Inc. | (118) | (3,924) |
(6,709) | ||
Banks — (0.4)% | ||
Huntington Bancshares, Inc. | (99) | (1,188) |
KeyCorp | (175) | (3,012) |
Regions Financial Corp. | (83) | (1,559) |
(5,759) | ||
Biotechnology — (0.4)% | ||
Moderna, Inc. * | (49) | (7,046) |
Building Products — (0.3)% | ||
Allegion plc | (17) | (1,699) |
Carrier Global Corp. | (46) | (1,630) |
Johnson Controls International plc | (45) | (2,136) |
(5,465) | ||
Capital Markets — (0.7)% | ||
Bank of New York Mellon Corp. (The) | (41) | (1,709) |
Franklin Resources, Inc. | (121) | (2,822) |
Goldman Sachs Group, Inc. (The) | (5) | (1,615) |
Moody's Corp. | (14) | (3,722) |
Northern Trust Corp. | (17) | (1,655) |
(11,523) | ||
Chemicals — (0.1)% | ||
Dow, Inc. | (31) | (1,577) |
Ecolab, Inc. | (5) | (808) |
(2,385) | ||
Communications Equipment — (0.3)% | ||
Cisco Systems, Inc. | (117) | (4,992) |
Consumer Finance — (0.5)% | ||
Capital One Financial Corp. | (72) | (7,548) |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Containers & Packaging — (0.4)% | ||
AptarGroup, Inc. | (22) | (2,328) |
International Paper Co. | (86) | (3,581) |
(5,909) | ||
Diversified Telecommunication Services — (0.5)% | ||
AT&T, Inc. | (140) | (2,936) |
Lumen Technologies, Inc. | (410) | (4,476) |
(7,412) | ||
Electric Utilities — (1.0)% | ||
American Electric Power Co., Inc. | (43) | (4,151) |
Duke Energy Corp. | (9) | (971) |
Eversource Energy | (35) | (2,992) |
FirstEnergy Corp. | (21) | (822) |
Pinnacle West Capital Corp. | (45) | (3,250) |
PPL Corp. | (65) | (1,756) |
Southern Co. (The) | (36) | (2,577) |
(16,519) | ||
Electrical Equipment — (0.6)% | ||
Acuity Brands, Inc. | (10) | (1,505) |
Emerson Electric Co. | (31) | (2,494) |
Hubbell, Inc. | (27) | (4,810) |
Sensata Technologies Holding plc | (18) | (752) |
(9,561) | ||
Energy Equipment & Services — (0.5)% | ||
Halliburton Co. | (68) | (2,134) |
Schlumberger NV | (165) | (5,883) |
(8,017) | ||
Entertainment — (0.2)% | ||
AMC Entertainment Holdings, Inc., Class A * | (127) | (1,719) |
ROBLOX Corp., Class A * | (56) | (1,833) |
Warner Bros Discovery, Inc. * | — | — |
(3,552) | ||
Equity Real Estate Investment Trusts (REITs) — (1.2)% | ||
Digital Realty Trust, Inc. | (25) | (3,216) |
Iron Mountain, Inc. | (44) | (2,138) |
National Retail Properties, Inc. | (119) | (5,150) |
Orion Office REIT, Inc. | — | — |
Realty Income Corp. | (24) | (1,624) |
June 30, 2022 | J.P. Morgan Large Cap Funds | 83 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short Positions — continued | ||
Common Stocks — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
Simon Property Group, Inc. | (48) | (4,562) |
SL Green Realty Corp. | (53) | (2,455) |
(19,145) | ||
Food & Staples Retailing — (1.1)% | ||
Albertsons Cos., Inc., Class A | (218) | (5,825) |
Kroger Co. (The) | (126) | (5,977) |
Walgreens Boots Alliance, Inc. | (147) | (5,564) |
(17,366) | ||
Food Products — (0.7)% | ||
Campbell Soup Co. | (106) | (5,094) |
Conagra Brands, Inc. | (56) | (1,923) |
General Mills, Inc. | (15) | (1,128) |
Kellogg Co. | (38) | (2,699) |
(10,844) | ||
Gas Utilities — (0.1)% | ||
National Fuel Gas Co. | (37) | (2,476) |
Health Care Equipment & Supplies — (0.3)% | ||
Stryker Corp. | (25) | (4,875) |
Health Care Providers & Services — (0.2)% | ||
Quest Diagnostics, Inc. | (18) | (2,389) |
Universal Health Services, Inc., Class B | (13) | (1,352) |
(3,741) | ||
Household Durables — (0.2)% | ||
KB Home | (30) | (842) |
NVR, Inc. * | — | (841) |
PulteGroup, Inc. | (20) | (807) |
(2,490) | ||
Household Products — (0.8)% | ||
Church & Dwight Co., Inc. | (17) | (1,606) |
Clorox Co. (The) | (60) | (8,463) |
Kimberly-Clark Corp. | (19) | (2,522) |
(12,591) | ||
Industrial Conglomerates — (1.2)% | ||
3M Co. | (92) | (11,873) |
General Electric Co. | (116) | (7,394) |
(19,267) |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Insurance — (0.5)% | ||
Allstate Corp. (The) | (27) | (3,393) |
Chubb Ltd. | (22) | (4,437) |
(7,830) | ||
Internet & Direct Marketing Retail — (0.2)% | ||
eBay, Inc. | (83) | (3,447) |
IT Services — (0.9)% | ||
Cognizant Technology Solutions Corp., Class A | (29) | (1,940) |
DXC Technology Co. * | (30) | (898) |
Global Payments, Inc. | (13) | (1,467) |
Paychex, Inc. | (35) | (3,939) |
Snowflake, Inc., Class A * | (3) | (484) |
Western Union Co. (The) | (392) | (6,457) |
(15,185) | ||
Life Sciences Tools & Services — (0.3)% | ||
Waters Corp. * | (16) | (5,411) |
Machinery — (1.1)% | ||
Caterpillar, Inc. | (8) | (1,428) |
Donaldson Co., Inc. | (73) | (3,503) |
IDEX Corp. | (18) | (3,240) |
Illinois Tool Works, Inc. | (22) | (4,066) |
PACCAR, Inc. | (45) | (3,690) |
Stanley Black & Decker, Inc. | (23) | (2,441) |
(18,368) | ||
Media — (1.4)% | ||
Interpublic Group of Cos., Inc. (The) | (129) | (3,570) |
Omnicom Group, Inc. | (191) | (12,131) |
Paramount Global, Class B | (325) | (8,020) |
(23,721) | ||
Multiline Retail — (0.0)% ^ | ||
Macy's, Inc. | (43) | (779) |
Multi-Utilities — (0.3)% | ||
Consolidated Edison, Inc. | (36) | (3,397) |
WEC Energy Group, Inc. | (17) | (1,701) |
(5,098) | ||
Oil, Gas & Consumable Fuels — (1.1)% | ||
Devon Energy Corp. | (12) | (671) |
Enbridge, Inc. (Canada) | (301) | (12,739) |
Marathon Oil Corp. | (134) | (3,006) |
84 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short Positions — continued | ||
Common Stocks — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
TC Energy Corp. (Canada) | (31) | (1,595) |
Valero Energy Corp. | (7) | (689) |
(18,700) | ||
Pharmaceuticals — (0.1)% | ||
Zoetis, Inc. | (10) | (1,741) |
Professional Services — (0.4)% | ||
Equifax, Inc. | (8) | (1,421) |
TransUnion | (36) | (2,937) |
Verisk Analytics, Inc. | (14) | (2,382) |
(6,740) | ||
Road & Rail — (0.4)% | ||
Canadian Pacific Railway Ltd. (Canada) | (44) | (3,084) |
Werner Enterprises, Inc. | (84) | (3,223) |
(6,307) | ||
Semiconductors & Semiconductor Equipment — (1.3)% | ||
Broadcom, Inc. | (5) | (2,298) |
Intel Corp. | (419) | (15,682) |
QUALCOMM, Inc. | (13) | (1,616) |
Texas Instruments, Inc. | (5) | (757) |
Universal Display Corp. | (12) | (1,223) |
(21,576) | ||
Software — (0.4)% | ||
Ceridian HCM Holding, Inc. * | (67) | (3,141) |
Oracle Corp. | (12) | (839) |
Palantir Technologies, Inc., Class A * | (46) | (415) |
Paycom Software, Inc. * | (9) | (2,621) |
(7,016) | ||
Specialty Retail — (0.1)% | ||
CarMax, Inc. * | (26) | (2,354) |
Technology Hardware, Storage & Peripherals — (0.7)% | ||
HP, Inc. | (161) | (5,298) |
NetApp, Inc. | (70) | (4,566) |
Xerox Holdings Corp. | (68) | (1,007) |
(10,871) |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Textiles, Apparel & Luxury Goods — (0.1)% | ||
VF Corp. | (24) | (1,057) |
Trading Companies & Distributors — (0.3)% | ||
Fastenal Co. | (89) | (4,440) |
Total Common Stocks (Proceeds $(438,133)) | (370,095) | |
Total Short Positions (Proceeds $(438,133)) | (370,095) | |
Total Investments — 99.9% (Cost $795,490) | 1,634,688 | |
Other Assets Less Liabilities — 0.1% | 2,382 | |
Net Assets — 100.0% | 1,637,070 |
Percentages indicated are based on net assets. | ||
Amounts presented as a dash ("-") represent amounts that round to less than a thousand. |
Abbreviations | |
ADR | American Depositary Receipt |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | All or a portion of this security is segregated as collateral for short sales. The total value of securities segregated as collateral is $504,771. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 85 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 97.7% | ||
Aerospace & Defense — 1.3% | ||
Northrop Grumman Corp. | 43 | 20,438 |
Raytheon Technologies Corp. | 492 | 47,325 |
Textron, Inc. | 273 | 16,690 |
84,453 | ||
Air Freight & Logistics — 1.4% | ||
FedEx Corp. | 100 | 22,726 |
United Parcel Service, Inc., Class B | 376 | 68,593 |
91,319 | ||
Airlines — 0.1% | ||
Southwest Airlines Co. * | 274 | 9,890 |
Auto Components — 0.2% | ||
Aptiv plc * | 57 | 5,028 |
Magna International, Inc. (Canada) | 183 | 10,061 |
15,089 | ||
Automobiles — 1.8% | ||
General Motors Co. * | 329 | 10,437 |
Rivian Automotive, Inc., Class A * | 61 | 1,577 |
Tesla, Inc. * | 163 | 110,005 |
122,019 | ||
Banks — 3.7% | ||
Bank of America Corp. | 2,373 | 73,886 |
Citigroup, Inc. | 198 | 9,112 |
Fifth Third Bancorp | 530 | 17,805 |
SVB Financial Group * | 21 | 8,094 |
Truist Financial Corp. | 486 | 23,042 |
US Bancorp | 973 | 44,781 |
Wells Fargo & Co. | 1,838 | 72,008 |
248,728 | ||
Beverages — 2.1% | ||
Coca-Cola Co. (The) | 1,373 | 86,344 |
Constellation Brands, Inc., Class A | 115 | 26,900 |
PepsiCo, Inc. | 170 | 28,299 |
141,543 | ||
Biotechnology — 2.9% | ||
AbbVie, Inc. | 632 | 96,800 |
Biogen, Inc. * | 65 | 13,197 |
BioMarin Pharmaceutical, Inc. * | 48 | 4,011 |
Neurocrine Biosciences, Inc. * | 49 | 4,816 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Biotechnology — continued | ||
Regeneron Pharmaceuticals, Inc. * | 62 | 36,544 |
Vertex Pharmaceuticals, Inc. * | 140 | 39,413 |
194,781 | ||
Building Products — 0.8% | ||
Lennox International, Inc. | 7 | 1,426 |
Masco Corp. | 291 | 14,757 |
Trane Technologies plc | 287 | 37,262 |
53,445 | ||
Capital Markets — 2.1% | ||
Intercontinental Exchange, Inc. | 214 | 20,119 |
Morgan Stanley | 372 | 28,283 |
S&P Global, Inc. | 136 | 45,726 |
State Street Corp. | 362 | 22,331 |
T. Rowe Price Group, Inc. | 214 | 24,351 |
140,810 | ||
Chemicals — 1.8% | ||
Air Products and Chemicals, Inc. | 47 | 11,280 |
Celanese Corp. | 46 | 5,473 |
DuPont de Nemours, Inc. | 198 | 11,023 |
Eastman Chemical Co. | 231 | 20,697 |
Linde plc (United Kingdom) | 175 | 50,210 |
PPG Industries, Inc. | 202 | 23,130 |
121,813 | ||
Commercial Services & Supplies — 0.1% | ||
Cintas Corp. | 21 | 7,923 |
Communications Equipment — 0.1% | ||
Motorola Solutions, Inc. | 36 | 7,531 |
Construction Materials — 0.3% | ||
Martin Marietta Materials, Inc. | 57 | 17,176 |
Consumer Finance — 0.8% | ||
American Express Co. | 315 | 43,665 |
Capital One Financial Corp. | 118 | 12,288 |
55,953 | ||
Containers & Packaging — 0.2% | ||
Avery Dennison Corp. | 69 | 11,088 |
Diversified Financial Services — 1.5% | ||
Berkshire Hathaway, Inc., Class B * | 360 | 98,210 |
Voya Financial, Inc. | 100 | 5,972 |
104,182 |
86 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Diversified Telecommunication Services — 0.2% | ||
Verizon Communications, Inc. | 289 | 14,664 |
Electric Utilities — 1.9% | ||
Evergy, Inc. | 135 | 8,796 |
Exelon Corp. | 1,109 | 50,292 |
FirstEnergy Corp. | 484 | 18,569 |
NextEra Energy, Inc. | 659 | 51,039 |
128,696 | ||
Electrical Equipment — 0.6% | ||
Eaton Corp. plc | 324 | 40,833 |
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 239 | 6,900 |
Entertainment — 0.5% | ||
Netflix, Inc. * | 127 | 22,133 |
Walt Disney Co. (The) * | 121 | 11,436 |
33,569 | ||
Equity Real Estate Investment Trusts (REITs) — 2.7% | ||
Camden Property Trust | 183 | 24,542 |
Duke Realty Corp. | 86 | 4,737 |
Equinix, Inc. | 31 | 20,567 |
Equity LifeStyle Properties, Inc. | 192 | 13,552 |
Host Hotels & Resorts, Inc. | 582 | 9,129 |
Kimco Realty Corp. | 535 | 10,565 |
Prologis, Inc. | 375 | 44,086 |
SBA Communications Corp. | 46 | 14,818 |
Sun Communities, Inc. | 112 | 17,749 |
UDR, Inc. | 88 | 4,066 |
Ventas, Inc. | 412 | 21,203 |
185,014 | ||
Food & Staples Retailing — 1.3% | ||
Costco Wholesale Corp. | 118 | 56,651 |
Walmart, Inc. | 229 | 27,854 |
84,505 | ||
Food Products — 0.8% | ||
Hershey Co. (The) | 55 | 11,812 |
Mondelez International, Inc., Class A | 631 | 39,184 |
50,996 | ||
Health Care Equipment & Supplies — 2.4% | ||
Abbott Laboratories | 293 | 31,893 |
ABIOMED, Inc. * | 9 | 2,245 |
Baxter International, Inc. | 454 | 29,173 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Health Care Equipment & Supplies — continued | ||
Boston Scientific Corp. * | 713 | 26,561 |
Dexcom, Inc. * | 76 | 5,688 |
Intuitive Surgical, Inc. * | 149 | 29,876 |
Medtronic plc | 187 | 16,806 |
Zimmer Biomet Holdings, Inc. | 178 | 18,652 |
160,894 | ||
Health Care Providers & Services — 3.6% | ||
Centene Corp. * | 502 | 42,439 |
Elevance Health, Inc. | 86 | 41,646 |
Humana, Inc. | 26 | 12,123 |
McKesson Corp. | 57 | 18,692 |
UnitedHealth Group, Inc. | 243 | 124,971 |
239,871 | ||
Hotels, Restaurants & Leisure — 2.0% | ||
Booking Holdings, Inc. * | 14 | 24,426 |
Chipotle Mexican Grill, Inc. * | 18 | 23,138 |
Expedia Group, Inc. * | 121 | 11,446 |
Hilton Worldwide Holdings, Inc. | 154 | 17,157 |
McDonald's Corp. | 210 | 51,845 |
Royal Caribbean Cruises Ltd. * | 44 | 1,555 |
Yum! Brands, Inc. | 62 | 7,083 |
136,650 | ||
Household Durables — 0.5% | ||
DR Horton, Inc. | 28 | 1,879 |
Lennar Corp., Class A | 334 | 23,558 |
PulteGroup, Inc. | 51 | 2,005 |
Toll Brothers, Inc. | 160 | 7,145 |
34,587 | ||
Household Products — 1.4% | ||
Kimberly-Clark Corp. | 182 | 24,661 |
Procter & Gamble Co. (The) | 499 | 71,703 |
96,364 | ||
Industrial Conglomerates — 0.3% | ||
Honeywell International, Inc. | 122 | 21,228 |
Insurance — 2.2% | ||
Aon plc, Class A | 70 | 18,985 |
Arthur J Gallagher & Co. | 62 | 10,060 |
Hartford Financial Services Group, Inc. (The) | 489 | 32,007 |
Progressive Corp. (The) | 478 | 55,596 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 87 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Insurance — continued | ||
Prudential Financial, Inc. | 65 | 6,189 |
Travelers Cos., Inc. (The) | 159 | 26,798 |
149,635 | ||
Interactive Media & Services — 5.8% | ||
Alphabet, Inc., Class A * | 80 | 174,509 |
Alphabet, Inc., Class C * | 60 | 131,853 |
Meta Platforms, Inc., Class A * | 503 | 81,145 |
ZoomInfo Technologies, Inc., Class A * | 199 | 6,611 |
394,118 | ||
Internet & Direct Marketing Retail — 3.1% | ||
Amazon.com, Inc. * | 1,995 | 211,897 |
IT Services — 4.4% | ||
Accenture plc, Class A | 224 | 62,061 |
Affirm Holdings, Inc. * | 169 | 3,047 |
Automatic Data Processing, Inc. | 89 | 18,609 |
FleetCor Technologies, Inc. * | 92 | 19,283 |
Mastercard, Inc., Class A | 297 | 93,823 |
Visa, Inc., Class A | 512 | 100,907 |
297,730 | ||
Life Sciences Tools & Services — 2.0% | ||
Danaher Corp. | 208 | 52,707 |
Thermo Fisher Scientific, Inc. | 150 | 81,265 |
133,972 | ||
Machinery — 2.1% | ||
Deere & Co. | 181 | 54,260 |
Dover Corp. | 112 | 13,612 |
Ingersoll Rand, Inc. | 228 | 9,605 |
Otis Worldwide Corp. | 459 | 32,395 |
Parker-Hannifin Corp. | 114 | 27,945 |
Stanley Black & Decker, Inc. | 37 | 3,906 |
141,723 | ||
Media — 1.4% | ||
Charter Communications, Inc., Class A * | 90 | 42,353 |
Comcast Corp., Class A | 1,299 | 50,970 |
Fox Corp., Class A | 48 | 1,533 |
Interpublic Group of Cos., Inc. (The) | 83 | 2,274 |
97,130 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Metals & Mining — 0.2% | ||
Freeport-McMoRan, Inc. | 251 | 7,360 |
Nucor Corp. | 61 | 6,327 |
13,687 | ||
Multiline Retail — 0.1% | ||
Dollar General Corp. | 23 | 5,576 |
Multi-Utilities — 1.1% | ||
Ameren Corp. | 250 | 22,635 |
CenterPoint Energy, Inc. | 701 | 20,733 |
Sempra Energy | 212 | 31,782 |
75,150 | ||
Oil, Gas & Consumable Fuels — 4.1% | ||
Cheniere Energy, Inc. | 77 | 10,217 |
Chevron Corp. | 392 | 56,708 |
ConocoPhillips | 742 | 66,654 |
Diamondback Energy, Inc. | 316 | 38,324 |
EOG Resources, Inc. | 351 | 38,759 |
Exxon Mobil Corp. | 330 | 28,261 |
Phillips 66 | 119 | 9,748 |
Pioneer Natural Resources Co. | 131 | 29,297 |
277,968 | ||
Pharmaceuticals — 4.2% | ||
Bristol-Myers Squibb Co. | 950 | 73,131 |
Eli Lilly & Co. | 229 | 74,334 |
Johnson & Johnson | 429 | 76,169 |
Merck & Co., Inc. | 374 | 34,105 |
Pfizer, Inc. | 438 | 22,947 |
280,686 | ||
Professional Services — 0.5% | ||
Booz Allen Hamilton Holding Corp. | 112 | 10,153 |
Leidos Holdings, Inc. | 223 | 22,438 |
32,591 | ||
Road & Rail — 1.0% | ||
Lyft, Inc., Class A * | 119 | 1,579 |
Norfolk Southern Corp. | 166 | 37,649 |
Uber Technologies, Inc. * | 142 | 2,900 |
Union Pacific Corp. | 120 | 25,639 |
67,767 | ||
Semiconductors & Semiconductor Equipment — 5.6% | ||
Advanced Micro Devices, Inc. * | 576 | 44,048 |
Analog Devices, Inc. | 375 | 54,821 |
88 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
Applied Materials, Inc. | 63 | 5,719 |
Lam Research Corp. | 103 | 43,669 |
Microchip Technology, Inc. | 402 | 23,316 |
Micron Technology, Inc. | 227 | 12,552 |
NVIDIA Corp. | 460 | 69,712 |
NXP Semiconductors NV (China) | 267 | 39,519 |
QUALCOMM, Inc. | 144 | 18,440 |
Texas Instruments, Inc. | 448 | 68,878 |
380,674 | ||
Software — 8.8% | ||
Adobe, Inc. * | 95 | 34,593 |
Fortinet, Inc. * | 144 | 8,168 |
Intuit, Inc. | 119 | 46,003 |
Microsoft Corp. | 1,796 | 461,141 |
Oracle Corp. | 212 | 14,839 |
Salesforce, Inc. * | 114 | 18,804 |
Workday, Inc., Class A * | 73 | 10,185 |
593,733 | ||
Specialty Retail — 2.8% | ||
AutoNation, Inc. * | 46 | 5,174 |
AutoZone, Inc. * | 8 | 16,660 |
Best Buy Co., Inc. | 303 | 19,735 |
Burlington Stores, Inc. * | 36 | 4,891 |
Home Depot, Inc. (The) | 80 | 21,964 |
Lowe's Cos., Inc. | 357 | 62,344 |
O'Reilly Automotive, Inc. * | 57 | 36,314 |
TJX Cos., Inc. (The) | 379 | 21,151 |
188,233 | ||
Technology Hardware, Storage & Peripherals — 7.0% | ||
Apple, Inc. | 3,220 | 440,256 |
Seagate Technology Holdings plc | 409 | 29,185 |
469,441 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Textiles, Apparel & Luxury Goods — 0.5% | ||
NIKE, Inc., Class B | 339 | 34,600 |
Tobacco — 0.8% | ||
Altria Group, Inc. | 570 | 23,827 |
Philip Morris International, Inc. | 320 | 31,566 |
55,393 | ||
Wireless Telecommunication Services — 0.5% | ||
T-Mobile US, Inc. * | 252 | 33,898 |
Total Common Stocks (Cost $5,216,248) | 6,598,116 | |
Short Term Investments — 1.8% | ||
Investment Companies — 1.8% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) (Cost $117,988) | 117,970 | 117,994 |
Total Investments — 99.5% (Cost $5,334,236) | 6,716,110 | |
Other Assets Less Liabilities — 0.5% | 34,928 | |
NET ASSETS — 100.0% | 6,751,038 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 89 |
AS OF June 30, 2022 (continued)
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 752 | 09/16/2022 | USD | 142,730 | (2,838) |
Abbreviations | |
USD | United States Dollar |
90 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 97.1% | ||
Auto Components — 1.1% | ||
Aptiv plc * | 22 | 1,980 |
Automobiles — 0.9% | ||
Rivian Automotive, Inc., Class A * | 10 | 250 |
Tesla, Inc. * | 2 | 1,441 |
1,691 | ||
Banks — 5.0% | ||
Bank of America Corp. | 145 | 4,524 |
Citigroup, Inc. | 32 | 1,474 |
Fifth Third Bancorp | 50 | 1,688 |
SVB Financial Group * | 4 | 1,505 |
9,191 | ||
Biotechnology — 1.3% | ||
Amgen, Inc. | 10 | 2,362 |
Building Products — 2.6% | ||
Trane Technologies plc | 32 | 4,236 |
Trex Co., Inc. * | 11 | 588 |
4,824 | ||
Capital Markets — 3.4% | ||
Intercontinental Exchange, Inc. | 17 | 1,574 |
Morgan Stanley | 27 | 2,093 |
S&P Global, Inc. | 6 | 1,972 |
State Street Corp. | 11 | 682 |
6,321 | ||
Chemicals — 0.7% | ||
Linde plc (United Kingdom) | 4 | 1,222 |
Containers & Packaging — 1.4% | ||
Ball Corp. | 38 | 2,600 |
Diversified Financial Services — 1.5% | ||
Voya Financial, Inc. | 48 | 2,829 |
Diversified Telecommunication Services — 1.9% | ||
Verizon Communications, Inc. | 69 | 3,497 |
Electric Utilities — 2.3% | ||
NextEra Energy, Inc. | 36 | 2,765 |
Xcel Energy, Inc. | 20 | 1,449 |
4,214 | ||
Electrical Equipment — 2.1% | ||
Eaton Corp. plc | 31 | 3,903 |
Entertainment — 1.6% | ||
Walt Disney Co. (The) * | 32 | 3,018 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Equity Real Estate Investment Trusts (REITs) — 3.8% | ||
American Tower Corp. | 6 | 1,485 |
Boston Properties, Inc. | 19 | 1,682 |
Equinix, Inc. | 2 | 1,340 |
Prologis, Inc. | 21 | 2,537 |
7,044 | ||
Food & Staples Retailing — 2.5% | ||
Costco Wholesale Corp. | 10 | 4,726 |
Food Products — 0.8% | ||
General Mills, Inc. | 19 | 1,466 |
Health Care Equipment & Supplies — 2.9% | ||
Boston Scientific Corp. * | 95 | 3,550 |
Hologic, Inc. * | 26 | 1,755 |
5,305 | ||
Health Care Providers & Services — 2.9% | ||
UnitedHealth Group, Inc. | 11 | 5,398 |
Insurance — 3.4% | ||
Marsh & McLennan Cos., Inc. | 10 | 1,555 |
MetLife, Inc. | 27 | 1,671 |
Progressive Corp. (The) | 26 | 3,087 |
6,313 | ||
Interactive Media & Services — 3.7% | ||
Alphabet, Inc., Class A * | 3 | 6,941 |
Internet & Direct Marketing Retail — 0.3% | ||
Etsy, Inc. * | 8 | 580 |
IT Services — 4.4% | ||
Accenture plc, Class A | 5 | 1,521 |
Affirm Holdings, Inc. * (a) | 13 | 230 |
Mastercard, Inc., Class A | 20 | 6,149 |
Shopify, Inc., Class A (Canada) * | 7 | 216 |
8,116 | ||
Life Sciences Tools & Services — 5.8% | ||
Agilent Technologies, Inc. | 14 | 1,694 |
Illumina, Inc. * | 3 | 487 |
IQVIA Holdings, Inc. * | 18 | 3,992 |
Thermo Fisher Scientific, Inc. | 9 | 4,661 |
10,834 | ||
Machinery — 4.0% | ||
Deere & Co. | 11 | 3,270 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 91 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Machinery — continued | ||
Ingersoll Rand, Inc. | 70 | 2,939 |
Xylem, Inc. | 14 | 1,133 |
7,342 | ||
Multiline Retail — 1.0% | ||
Target Corp. | 13 | 1,906 |
Multi-Utilities — 1.3% | ||
Sempra Energy | 17 | 2,491 |
Personal Products — 1.2% | ||
Estee Lauder Cos., Inc. (The), Class A | 9 | 2,221 |
Pharmaceuticals — 5.4% | ||
Bristol-Myers Squibb Co. | 66 | 5,047 |
Merck & Co., Inc. | 55 | 5,041 |
10,088 | ||
Road & Rail — 1.2% | ||
Norfolk Southern Corp. | 10 | 2,318 |
Semiconductors & Semiconductor Equipment — 5.5% | ||
Advanced Micro Devices, Inc. * | 18 | 1,342 |
Lam Research Corp. | 4 | 1,638 |
NVIDIA Corp. | 9 | 1,387 |
NXP Semiconductors NV (China) | 15 | 2,269 |
SolarEdge Technologies, Inc. * | 3 | 868 |
Texas Instruments, Inc. | 17 | 2,660 |
10,164 | ||
Software — 10.6% | ||
Autodesk, Inc. * | 5 | 867 |
Cadence Design Systems, Inc. * | 11 | 1,569 |
Coupa Software, Inc. * | 9 | 496 |
Intuit, Inc. | 5 | 1,993 |
Microsoft Corp. | 57 | 14,723 |
19,648 | ||
Specialty Retail — 3.9% | ||
Best Buy Co., Inc. | 21 | 1,394 |
Home Depot, Inc. (The) | 13 | 3,442 |
TJX Cos., Inc. (The) | 43 | 2,431 |
7,267 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Technology Hardware, Storage & Peripherals — 6.2% | ||
Apple, Inc. | 75 | 10,202 |
Seagate Technology Holdings plc | 17 | 1,207 |
11,409 | ||
Textiles, Apparel & Luxury Goods — 0.5% | ||
VF Corp. | 19 | 850 |
Total Common Stocks (Cost $185,835) | 180,079 | |
Short Term Investments — 1.5% | ||
Investment Companies — 1.4% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $2,533) | 2,533 | 2,533 |
Investment of Cash Collateral from Securities Loaned — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) (Cost $198) | 198 | 198 |
Total Short Term Investments (Cost $2,731) | 2,731 | |
Total Investments — 98.6% (Cost $188,566) | 182,810 | |
Other Assets Less Liabilities — 1.4% | 2,596 | |
NET ASSETS — 100.0% | 185,406 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $182. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
92 | J.P. Morgan Large Cap Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
E-Mini S&P 500 ESG Index | 28 | 09/16/2022 | USD | 4,647 | (62) |
Abbreviations | |
USD | United States Dollar |
June 30, 2022 | J.P. Morgan Large Cap Funds | 93 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 96.9% | ||
Aerospace & Defense — 4.4% | ||
General Dynamics Corp. | 177 | 39,244 |
Northrop Grumman Corp. | 70 | 33,414 |
Raytheon Technologies Corp. | 525 | 50,411 |
123,069 | ||
Air Freight & Logistics — 1.3% | ||
United Parcel Service, Inc., Class B | 200 | 36,526 |
Airlines — 0.8% | ||
Southwest Airlines Co. * | 635 | 22,953 |
Banks — 9.3% | ||
Bank of America Corp. | 1,389 | 43,255 |
Citigroup, Inc. | 873 | 40,145 |
Citizens Financial Group, Inc. | 298 | 10,638 |
M&T Bank Corp. | 117 | 18,572 |
PNC Financial Services Group, Inc. (The) | 208 | 32,879 |
Truist Financial Corp. | 783 | 37,125 |
US Bancorp | 386 | 17,765 |
Wells Fargo & Co. | 1,585 | 62,093 |
262,472 | ||
Beverages — 1.3% | ||
Monster Beverage Corp. * | 157 | 14,535 |
PepsiCo, Inc. | 132 | 22,109 |
36,644 | ||
Biotechnology — 3.4% | ||
AbbVie, Inc. | 282 | 43,134 |
Amgen, Inc. | 68 | 16,621 |
Biogen, Inc. * | 20 | 4,101 |
Vertex Pharmaceuticals, Inc. * | 111 | 31,251 |
95,107 | ||
Building Products — 0.3% | ||
Trane Technologies plc | 75 | 9,712 |
Capital Markets — 6.7% | ||
BlackRock, Inc. | 79 | 48,281 |
Charles Schwab Corp. (The) | 364 | 22,962 |
Goldman Sachs Group, Inc. (The) | 102 | 30,380 |
Morgan Stanley | 599 | 45,564 |
S&P Global, Inc. | 54 | 18,100 |
T. Rowe Price Group, Inc. | 200 | 22,718 |
188,005 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Chemicals — 2.4% | ||
Air Products and Chemicals, Inc. | 141 | 34,016 |
Axalta Coating Systems Ltd. * | 1,516 | 33,514 |
67,530 | ||
Commercial Services & Supplies — 0.7% | ||
Republic Services, Inc. | 143 | 18,676 |
Construction Materials — 0.9% | ||
Vulcan Materials Co. | 181 | 25,775 |
Consumer Finance — 1.8% | ||
American Express Co. | 194 | 26,821 |
Capital One Financial Corp. | 223 | 23,280 |
50,101 | ||
Containers & Packaging — 0.4% | ||
Ball Corp. | 155 | 10,646 |
Diversified Financial Services — 1.8% | ||
Berkshire Hathaway, Inc., Class B * | 182 | 49,689 |
Electric Utilities — 2.0% | ||
Entergy Corp. | 90 | 10,065 |
NextEra Energy, Inc. | 312 | 24,186 |
Xcel Energy, Inc. | 311 | 22,022 |
56,273 | ||
Electrical Equipment — 1.0% | ||
Eaton Corp. plc | 222 | 27,948 |
Entertainment — 0.5% | ||
Walt Disney Co. (The) * | 139 | 13,113 |
Equity Real Estate Investment Trusts (REITs) — 1.4% | ||
AvalonBay Communities, Inc. | 50 | 9,626 |
Host Hotels & Resorts, Inc. | 1,018 | 15,966 |
Ventas, Inc. | 258 | 13,274 |
38,866 | ||
Food & Staples Retailing — 1.0% | ||
Walmart, Inc. | 226 | 27,532 |
Food Products — 1.0% | ||
Mondelez International, Inc., Class A | 456 | 28,298 |
Health Care Equipment & Supplies — 3.4% | ||
Becton Dickinson and Co. | 93 | 22,850 |
Boston Scientific Corp. * | 651 | 24,263 |
Medtronic plc | 324 | 29,047 |
Zimmer Biomet Holdings, Inc. | 174 | 18,343 |
94,503 |
94 | J.P. Morgan Large Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Health Care Providers & Services — 5.9% | ||
Cigna Corp. | 158 | 41,622 |
Elevance Health, Inc. | 50 | 24,099 |
Humana, Inc. | 60 | 28,070 |
UnitedHealth Group, Inc. | 143 | 73,341 |
167,132 | ||
Hotels, Restaurants & Leisure — 1.7% | ||
Booking Holdings, Inc. * | 11 | 18,520 |
McDonald's Corp. | 121 | 29,951 |
48,471 | ||
Household Durables — 0.4% | ||
Newell Brands, Inc. | 535 | 10,189 |
Household Products — 1.1% | ||
Procter & Gamble Co. (The) | 218 | 31,405 |
Insurance — 4.2% | ||
Chubb Ltd. | 156 | 30,700 |
Hartford Financial Services Group, Inc. (The) | 412 | 26,986 |
Loews Corp. | 224 | 13,275 |
Marsh & McLennan Cos., Inc. | 86 | 13,281 |
MetLife, Inc. | 358 | 22,453 |
Prudential Financial, Inc. | 129 | 12,332 |
119,027 | ||
Interactive Media & Services — 1.8% | ||
Alphabet, Inc., Class C * | 16 | 35,255 |
Meta Platforms, Inc., Class A * | 91 | 14,706 |
49,961 | ||
IT Services — 1.0% | ||
Fidelity National Information Services, Inc. | 94 | 8,649 |
International Business Machines Corp. | 137 | 19,332 |
27,981 | ||
Machinery — 2.5% | ||
Dover Corp. | 298 | 36,159 |
Parker-Hannifin Corp. | 142 | 34,960 |
71,119 | ||
Media — 1.4% | ||
Comcast Corp., Class A | 987 | 38,739 |
Multiline Retail — 0.9% | ||
Dollar General Corp. | 102 | 24,986 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Multi-Utilities — 1.6% | ||
CMS Energy Corp. | 505 | 34,068 |
Public Service Enterprise Group, Inc. | 159 | 10,079 |
44,147 | ||
Oil, Gas & Consumable Fuels — 7.5% | ||
Chevron Corp. | 193 | 27,988 |
ConocoPhillips | 778 | 69,851 |
EOG Resources, Inc. | 432 | 47,701 |
Exxon Mobil Corp. | 681 | 58,295 |
Valero Energy Corp. | 73 | 7,814 |
211,649 | ||
Pharmaceuticals — 6.5% | ||
Bristol-Myers Squibb Co. | 884 | 68,047 |
Eli Lilly & Co. | 97 | 31,435 |
Johnson & Johnson | 306 | 54,395 |
Merck & Co., Inc. | 95 | 8,680 |
Pfizer, Inc. | 408 | 21,387 |
183,944 | ||
Road & Rail — 1.0% | ||
CSX Corp. | 929 | 26,997 |
Semiconductors & Semiconductor Equipment — 4.3% | ||
Analog Devices, Inc. | 284 | 41,459 |
Lam Research Corp. | 25 | 10,535 |
NXP Semiconductors NV (China) | 176 | 26,144 |
Texas Instruments, Inc. | 277 | 42,540 |
120,678 | ||
Software — 1.1% | ||
Microsoft Corp. | 125 | 32,110 |
Specialty Retail — 4.8% | ||
AutoZone, Inc. * | 18 | 39,325 |
Home Depot, Inc. (The) | 113 | 31,010 |
Lowe's Cos., Inc. | 128 | 22,303 |
O'Reilly Automotive, Inc. * | 22 | 14,278 |
TJX Cos., Inc. (The) | 520 | 29,023 |
135,939 | ||
Technology Hardware, Storage & Peripherals — 0.4% | ||
Apple, Inc. | 85 | 11,636 |
Textiles, Apparel & Luxury Goods — 0.8% | ||
NIKE, Inc., Class B | 233 | 23,765 |
Tobacco — 1.4% | ||
Philip Morris International, Inc. | 407 | 40,162 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 95 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Wireless Telecommunication Services — 0.8% | ||
T-Mobile US, Inc. * | 174 | 23,396 |
Total Common Stocks (Cost $2,415,242) | 2,726,871 | |
Short Term Investments — 2.7% | ||
Investment Companies — 2.7% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) (Cost $76,404) | 76,396 | 76,411 |
Total Investments — 99.6% (Cost $2,491,646) | 2,803,282 | |
Other Assets Less Liabilities — 0.4% | 11,046 | |
NET ASSETS — 100.0% | 2,814,328 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is is managed by JP Morgan Chase Bank, N.A. |
(b) | The rate shown is the current yield as of June 30, 2022. |
96 | J.P. Morgan Large Cap Funds | June 30, 2022 |
AS OF June 30, 2022
(Amounts in thousands, except per share amounts)
JPMorgan Equity Focus Fund | JPMorgan Equity Income Fund | JPMorgan Equity Index Fund | JPMorgan Equity Premium Income Fund | |
ASSETS: | ||||
Investments in non-affiliates, at value | $173,256 | $45,254,776 | $7,127,198 | $3,506,378 |
Investments in affiliates, at value | 11,341 | 667,513 | 120,259 | 80,017 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C) | — | — | 6,000 | — |
Cash | 6 | 684 | 39 | — |
Foreign currency, at value | 1 | — | 2 | — |
Deposits at broker for futures contracts | — | — | 3,223 | 410 |
Receivables: | ||||
Due from custodian | — | — | — | 3,184 |
Investment securities sold | — | 55,986 | — | 134,022 |
Fund shares sold | 851 | 33,747 | 4,504 | 15,430 |
Interest from non-affiliates | — | — | — | 22,749 |
Dividends from non-affiliates | 176 | 92,274 | 5,688 | 3,912 |
Dividends from affiliates | —(a) | 28 | 26 | 3 |
Securities lending income (See Note 2.C) | — | — | —(a) | — |
Variation margin on futures contracts | — | — | — | 278 |
Total Assets | 185,631 | 46,105,008 | 7,266,939 | 3,766,383 |
LIABILITIES: | ||||
Payables: | ||||
Distributions | — | — | — | 1,350 |
Investment securities purchased | 5,444 | 63,242 | — | 132,162 |
Collateral received on securities loaned (See Note 2.C) | — | — | 6,000 | — |
Fund shares redeemed | 63 | 45,715 | 1,948 | 20,104 |
Variation margin on futures contracts | — | — | 362 | — |
Accrued liabilities: | ||||
Investment advisory fees | 68 | 15,353 | — | 508 |
Administration fees | 8 | 1,284 | 158 | 82 |
Distribution fees | 7 | 1,819 | 194 | 642 |
Service fees | 29 | 5,136 | 251 | 695 |
Custodian and accounting fees | 4 | 258 | 47 | 16 |
Trustees’ and Chief Compliance Officer’s fees | —(a) | — | —(a) | —(a) |
Other | 85 | 787 | 195 | 233 |
Total Liabilities | 5,708 | 133,594 | 9,155 | 155,792 |
Net Assets | $179,923 | $45,971,414 | $7,257,784 | $3,610,591 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 97 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan Equity Focus Fund | JPMorgan Equity Income Fund | JPMorgan Equity Index Fund | JPMorgan Equity Premium Income Fund | |
NET ASSETS: | ||||
Paid-in-Capital | $155,785 | $33,921,627 | $4,463,432 | $3,930,177 |
Total distributable earnings (loss) | 24,138 | 12,049,787 | 2,794,352 | (319,586) |
Total Net Assets: | $179,923 | $45,971,414 | $7,257,784 | $3,610,591 |
Net Assets: | ||||
Class A | $17,340 | $4,562,270 | $654,422 | $905,284 |
Class C | 6,298 | 1,206,824 | 86,737 | 756,008 |
Class I | 121,161 | 17,614,254 | 1,121,519 | 1,859,617 |
Class R2 | — | 102,353 | — | — |
Class R3 | — | 232,772 | — | — |
Class R4 | — | 211,963 | — | — |
Class R5 | — | 1,300,595 | — | 160 |
Class R6 | 35,124 | 20,740,383 | 5,395,106 | 89,522 |
Total | $179,923 | $45,971,414 | $7,257,784 | $3,610,591 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | ||||
Class A | 611 | 215,725 | 11,533 | 65,627 |
Class C | 237 | 58,360 | 1,545 | 54,806 |
Class I | 4,155 | 816,980 | 19,740 | 134,776 |
Class R2 | — | 4,864 | — | — |
Class R3 | — | 11,016 | — | — |
Class R4 | — | 9,838 | — | — |
Class R5 | — | 60,275 | — | 12 |
Class R6 | 1,210 | 962,015 | 94,935 | 6,489 |
Net Asset Value (a): | ||||
Class A — Redemption price per share | $28.42 | $21.15 | $56.74 | $13.79 |
Class C — Offering price per share (b) | 26.57 | 20.68 | 56.14 | 13.79 |
Class I — Offering and redemption price per share | 29.16 | 21.56 | 56.81 | 13.80 |
Class R2 — Offering and redemption price per share | — | 21.04 | — | — |
Class R3 — Offering and redemption price per share | — | 21.13 | — | — |
Class R4 — Offering and redemption price per share | — | 21.54 | — | — |
Class R5 — Offering and redemption price per share | — | 21.58 | — | 13.79 |
Class R6 — Offering and redemption price per share | 29.01 | 21.56 | 56.83 | 13.80 |
Class A maximum sales charge | 5.25% | 5.25% | 5.25% | 5.25% |
Class A maximum public offering price per share [net asset value per share/(100% – maximum sales charge)] | $29.99 | $22.32 | $59.88 | $14.55 |
Cost of investments in non-affiliates | $148,498 | $33,586,660 | $4,164,016 | $3,579,763 |
Cost of investments in affiliates | 11,340 | 667,488 | 93,632 | 80,015 |
Cost of foreign currency | 1 | — | 2 | — |
Investment securities on loan, at value (See Note 2.C) | — | — | 5,442 | — |
Cost of investment of cash collateral (See Note 2.C) | — | — | 6,000 | — |
98 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Hedged Equity Fund | JP Morgan Hedged Equity 2 Fund | JP Morgan Hedged Equity 3 Fund | JPMorgan Large Cap Growth Fund | |
ASSETS: | ||||
Investments in non-affiliates, at value | $16,095,362 | $5,286,873 | $2,629,550 | $29,453,501 |
Investments in affiliates, at value | — | 212,012 | 60,717 | 1,876,889 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C) | — | — | — | 6,439 |
Options purchased, at value | 503,744 | 250,491 | 152,908 | — |
Cash | 6,458 | 1,273 | 457 | 1,724 |
Foreign currency, at value | 10 | 4 | 2 | — |
Deposits at broker for futures contracts | 3,392 | 1,988 | 3,129 | — |
Receivables: | ||||
Investment securities sold | 2,458,074 | 1,208 | 370 | — |
Fund shares sold | 21,521 | 35,947 | 38,672 | 43,909 |
Dividends from non-affiliates | 16,049 | 5,590 | 2,781 | 17,110 |
Dividends from affiliates | 77 | 8 | 2 | 79 |
Securities lending income (See Note 2.C) | — | — | — | 1 |
Variation margin on futures contracts | 1,246 | 1,963 | — | — |
Total Assets | 19,105,933 | 5,797,357 | 2,888,588 | 31,399,652 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | 1,978,154 | 146,977 | 888 | — |
Collateral received on securities loaned (See Note 2.C) | — | — | — | 6,439 |
Interfund lending | 2,388 | — | — | — |
Fund shares redeemed | 120,556 | 7,615 | 3,571 | 30,583 |
Variation margin on futures contracts | — | — | 278 | — |
Outstanding options written, at fair value | 501,568 | 16,699 | 31,364 | — |
Accrued liabilities: | ||||
Investment advisory fees | 3,447 | 848 | 360 | 10,236 |
Administration fees | 894 | 154 | 38 | 317 |
Distribution fees | 616 | 213 | 83 | 1,233 |
Service fees | 3,122 | 961 | 473 | 3,015 |
Custodian and accounting fees | 109 | 24 | 18 | 191 |
Trustees’ and Chief Compliance Officer’s fees | — | — | — | — |
Other | 745 | 399 | 222 | 940 |
Total Liabilities | 2,611,599 | 173,890 | 37,295 | 52,954 |
Net Assets | $16,494,334 | $5,623,467 | $2,851,293 | $31,346,698 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 99 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan Hedged Equity Fund | JP Morgan Hedged Equity 2 Fund | JP Morgan Hedged Equity 3 Fund | JPMorgan Large Cap Growth Fund | |
NET ASSETS: | ||||
Paid-in-Capital | $14,562,269 | $6,096,749 | $3,159,574 | $25,253,261 |
Total distributable earnings (loss) | 1,932,065 | (473,282) | (308,281) | 6,093,437 |
Total Net Assets: | $16,494,334 | $5,623,467 | $2,851,293 | $31,346,698 |
Net Assets: | ||||
Class A | $1,647,387 | $295,220 | $110,840 | $3,734,120 |
Class C | 436,891 | 241,375 | 97,285 | 556,002 |
Class I | 12,790,417 | 4,110,283 | 2,257,577 | 9,509,669 |
Class R2 | — | — | — | 90,916 |
Class R3 | — | — | — | 205,831 |
Class R4 | — | — | — | 137,633 |
Class R5 | 5,335 | 636 | 128 | 629,918 |
Class R6 | 1,614,304 | 975,953 | 385,463 | 16,482,609 |
Total | $16,494,334 | $5,623,467 | $2,851,293 | $31,346,698 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | ||||
Class A | 68,074 | 19,850 | 7,730 | 84,639 |
Class C | 18,189 | 16,266 | 6,802 | 18,742 |
Class I | 526,819 | 276,065 | 157,220 | 209,833 |
Class R2 | — | — | — | 2,191 |
Class R3 | — | — | — | 4,630 |
Class R4 | — | — | — | 3,044 |
Class R5 | 219 | 43 | 9 | 13,428 |
Class R6 | 66,340 | 65,486 | 26,817 | 346,934 |
Net Asset Value (a): | ||||
Class A — Redemption price per share | $24.20 | $14.87 | $14.34 | $44.12 |
Class C — Offering price per share (b) | 24.02 | 14.84 | 14.30 | 29.67 |
Class I — Offering and redemption price per share | 24.28 | 14.89 | 14.36 | 45.32 |
Class R2 — Offering and redemption price per share | — | — | — | 41.49 |
Class R3 — Offering and redemption price per share | — | — | — | 44.45 |
Class R4 — Offering and redemption price per share | — | — | — | 45.23 |
Class R5 — Offering and redemption price per share | 24.32 | 14.89 | 14.37 | 46.91 |
Class R6 — Offering and redemption price per share | 24.33 | 14.90 | 14.37 | 47.51 |
Class A maximum sales charge | 5.25% | 5.25% | 5.25% | 5.25% |
Class A maximum public offering price per share [net asset value per share/(100% – maximum sales charge)] | $25.54 | $15.69 | $15.13 | $46.56 |
Cost of investments in non-affiliates | $12,971,764 | $5,921,651 | $2,946,892 | $24,304,559 |
Cost of investments in affiliates | — | 212,012 | 60,717 | 1,876,903 |
Cost of options purchased | 524,372 | 195,758 | 93,533 | — |
Cost of foreign currency | 10 | 4 | 2 | — |
Investment securities on loan, at value (See Note 2.C) | — | — | — | 5,817 |
Cost of investment of cash collateral (See Note 2.C) | — | — | — | 6,439 |
Premiums received from options written | 508,009 | 191,908 | 81,615 | — |
100 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Large Cap Value Fund | JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | JPMorgan U.S. Equity Fund | JPMorgan U.S. GARP Equity Fund | |
ASSETS: | ||||
Investments in non-affiliates, at value | $3,066,049 | $193,334 | $17,972,236 | $935,814 |
Investments in affiliates, at value | 130,474 | 2,967 | 594,276 | 38,483 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C) | — | — | — | 638 |
Cash | 122 | 3 | 502 | 29 |
Foreign currency, at value | — | — | — | 1 |
Deposits at broker for futures contracts | — | 295 | 11,214 | 2,110 |
Receivables: | ||||
Investment securities sold | — | — | 82,926 | — |
Fund shares sold | 8,417 | 24 | 13,200 | 52 |
Dividends from non-affiliates | 4,694 | 257 | 15,561 | 520 |
Dividends from affiliates | 6 | —(a) | 25 | 2 |
Securities lending income (See Note 2.C) | — | — | — | —(a) |
Total Assets | 3,209,762 | 196,880 | 18,689,940 | 977,649 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | 9,666 | — | 62,204 | — |
Collateral received on securities loaned (See Note 2.C) | — | — | — | 638 |
Fund shares redeemed | 2,457 | 160 | 10,736 | 193 |
Variation margin on futures contracts | — | 21 | 1,184 | 252 |
Accrued liabilities: | ||||
Investment advisory fees | 939 | 38 | 5,900 | 207 |
Administration fees | 132 | 4 | 752 | 36 |
Distribution fees | 105 | 16 | 683 | 46 |
Service fees | 313 | 20 | 1,059 | 52 |
Custodian and accounting fees | 20 | 6 | 111 | 8 |
Trustees’ and Chief Compliance Officer’s fees | —(a) | — | — | — |
Other | 112 | 117 | 402 | 68 |
Total Liabilities | 13,744 | 382 | 83,031 | 1,500 |
Net Assets | $3,196,018 | $196,498 | $18,606,909 | $976,149 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 101 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan Large Cap Value Fund | JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | JPMorgan U.S. Equity Fund | JPMorgan U.S. GARP Equity Fund | |
NET ASSETS: | ||||
Paid-in-Capital | $2,946,450 | $173,530 | $13,205,671 | $699,812 |
Total distributable earnings (loss) | 249,568 | 22,968 | 5,401,238 | 276,337 |
Total Net Assets: | $3,196,018 | $196,498 | $18,606,909 | $976,149 |
Net Assets: | ||||
Class A | $235,054 | $49,916 | $1,577,771 | $92,344 |
Class C | 79,663 | 7,147 | 351,674 | 19,522 |
Class I | 1,275,387 | 94,291 | 1,863,855 | 86,649 |
Class L | — | — | 1,578,191 | — |
Class R2 | 12,323 | 2,651 | 219,960 | 31,751 |
Class R3 | 6,010 | — | 157,177 | — |
Class R4 | 495 | — | 55,292 | — |
Class R5 | 23,073 | 3,610 | 911,961 | 103,007 |
Class R6 | 1,564,013 | 38,883 | 11,891,028 | 642,876 |
Total | $3,196,018 | $196,498 | $18,606,909 | $976,149 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | ||||
Class A | 13,133 | 1,879 | 90,244 | 1,861 |
Class C | 4,683 | 276 | 21,126 | 408 |
Class I | 72,748 | 3,506 | 106,172 | 1,698 |
Class L | — | — | 89,689 | — |
Class R2 | 695 | 101 | 12,749 | 666 |
Class R3 | 344 | — | 9,033 | — |
Class R4 | 28 | — | 3,155 | — |
Class R5 | 1,300 | 134 | 51,807 | 2,059 |
Class R6 | 88,815 | 1,444 | 673,765 | 12,854 |
Net Asset Value (a): | ||||
Class A — Redemption price per share | $17.90 | $26.56 | $17.48 | $49.61 |
Class C — Offering price per share (b) | 17.01 | 25.93 | 16.65 | 47.82 |
Class I — Offering and redemption price per share | 17.53 | 26.89 | 17.56 | 51.05 |
Class L — Offering and redemption price per share | — | — | 17.60 | — |
Class R2 — Offering and redemption price per share | 17.72 | 26.18 | 17.25 | 47.65 |
Class R3 — Offering and redemption price per share | 17.49 | — | 17.40 | — |
Class R4 — Offering and redemption price per share | 17.92 | — | 17.52 | — |
Class R5 — Offering and redemption price per share | 17.75 | 26.95 | 17.60 | 50.02 |
Class R6 — Offering and redemption price per share | 17.61 | 26.95 | 17.65 | 50.02 |
Class A maximum sales charge | 5.25% | 5.25% | 5.25% | 5.25% |
Class A maximum public offering price per share [net asset value per share/(100% – maximum sales charge)] | $18.89 | $28.03 | $18.45 | $52.36 |
Cost of investments in non-affiliates | $2,919,172 | $173,950 | $12,757,261 | $687,640 |
Cost of investments in affiliates | 130,466 | 2,967 | 594,247 | 38,481 |
Cost of foreign currency | — | — | — | 1 |
Investment securities on loan, at value (See Note 2.C) | — | — | — | 587 |
Cost of investment of cash collateral (See Note 2.C) | — | — | — | 638 |
102 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan U.S. Large Cap Core Plus Fund | JPMorgan U.S. Research Enhanced Equity Fund | JPMorgan U.S. Sustainable Leaders Fund | JPMorgan U.S. Value Fund | |
ASSETS: | ||||
Investments in non-affiliates, at value | $1,998,104 | $6,598,116 | $180,079 | $2,726,871 |
Investments in affiliates, at value | 6,679 | 117,994 | 2,533 | 76,411 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C) | — | — | 198 | — |
Cash | 37 | 102 | 2 | 79 |
Foreign currency, at value | 6 | 5 | 1 | — |
Deposits at broker for futures contracts | — | 6,709 | 241 | — |
Receivables: | ||||
Investment securities sold | 8,347 | 658 | 1,060 | 1,516 |
Fund shares sold | 406 | 24,436 | 2,665 | 13,000 |
Dividends from non-affiliates | 1,663 | 7,181 | 196 | 3,735 |
Dividends from affiliates | —(a) | 5 | —(a) | 3 |
Securities lending income (See Note 2.C) | — | — | —(a) | — |
Total Assets | 2,015,242 | 6,755,206 | 186,975 | 2,821,615 |
LIABILITIES: | ||||
Payables: | ||||
Securities sold short, at value | 370,095 | — | — | — |
Dividend expense to non-affiliates on securities sold short | 702 | — | — | — |
Investment securities purchased | 4,096 | 872 | 993 | 2,842 |
Interest expense to non-affiliates on securities sold short | 185 | — | — | — |
Collateral received on securities loaned (See Note 2.C) | — | — | 198 | — |
Fund shares redeemed | 1,738 | 976 | 224 | 2,799 |
Variation margin on futures contracts | — | 693 | 26 | — |
Due to broker for securities sold short | 7 | — | — | — |
Accrued liabilities: | ||||
Investment advisory fees | 881 | 1,049 | 31 | 765 |
Administration fees | 84 | 185 | 2 | 70 |
Distribution fees | 72 | 31 | 11 | 198 |
Service fees | 161 | 61 | 4 | 461 |
Custodian and accounting fees | 18 | 29 | 6 | 16 |
Trustees’ and Chief Compliance Officer’s fees | — | —(a) | — | — |
Other | 133 | 272 | 74 | 136 |
Total Liabilities | 378,172 | 4,168 | 1,569 | 7,287 |
Net Assets | $1,637,070 | $6,751,038 | $185,406 | $2,814,328 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 103 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan U.S. Large Cap Core Plus Fund | JPMorgan U.S. Research Enhanced Equity Fund | JPMorgan U.S. Sustainable Leaders Fund | JPMorgan U.S. Value Fund | |
NET ASSETS: | ||||
Paid-in-Capital | $614,457 | $5,332,170 | $199,275 | $2,502,965 |
Total distributable earnings (loss) | 1,022,613 | 1,418,868 | (13,869) | 311,363 |
Total Net Assets: | $1,637,070 | $6,751,038 | $185,406 | $2,814,328 |
Net Assets: | ||||
Class A | $240,209 | $145,624 | $37,387 | $723,238 |
Class C | 28,297 | — | 4,668 | 71,714 |
Class I | 970,509 | 611,102 | 98,142 | 1,440,632 |
Class R2 | 4,602 | — | — | 3,563 |
Class R3 | — | — | — | 8,698 |
Class R4 | — | — | — | 253 |
Class R5 | 27,541 | — | — | 4,409 |
Class R6 | 365,912 | 5,994,312 | 45,209 | 561,821 |
Total | $1,637,070 | $6,751,038 | $185,406 | $2,814,328 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | ||||
Class A | 13,326 | 5,044 | 767 | 12,012 |
Class C | 1,828 | — | 98 | 1,350 |
Class I | 51,952 | 20,887 | 1,992 | 22,502 |
Class R2 | 277 | — | — | 59 |
Class R3 | — | — | — | 136 |
Class R4 | — | — | — | 4 |
Class R5 | 1,457 | — | — | 68 |
Class R6 | 19,358 | 205,217 | 917 | 8,704 |
Net Asset Value (a): | ||||
Class A — Redemption price per share | $18.03 | $28.88 | $48.80 | $60.21 |
Class C — Offering price per share (b) | 15.48 | — | 47.61 | 53.16 |
Class I — Offering and redemption price per share | 18.68 | 29.26 | 49.27 | 64.02 |
Class R2 — Offering and redemption price per share | 16.59 | — | — | 60.30 |
Class R3 — Offering and redemption price per share | — | — | — | 63.83 |
Class R4 — Offering and redemption price per share | — | — | — | 64.04 |
Class R5 — Offering and redemption price per share | 18.91 | — | — | 64.52 |
Class R6 — Offering and redemption price per share | 18.90 | 29.21 | 49.27 | 64.55 |
Class A maximum sales charge | 5.25% | 5.25% | 5.25% | 5.25% |
Class A maximum public offering price per share [net asset value per share/(100% – maximum sales charge)] | $19.03 | $30.48 | $51.50 | $63.55 |
Cost of investments in non-affiliates | $1,226,944 | $5,216,248 | $185,835 | $2,415,242 |
Cost of investments in affiliates | 6,679 | 117,988 | 2,533 | 76,404 |
Cost of foreign currency | 6 | 5 | 1 | — |
Investment securities on loan, at value | — | — | 182 | — |
Cost of investment of cash collateral (See Note 2.C) | — | — | 198 | — |
Proceeds from securities sold short | 438,133 | — | — | — |
104 | J.P. Morgan Large Cap Funds | June 30, 2022 |
FOR THE YEAR ENDED June 30, 2022
(Amounts in thousands)
JPMorgan Equity Focus Fund | JPMorgan Equity Income Fund | JPMorgan Equity Index Fund | JPMorgan Equity Premium Income Fund | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $— | $— | $— | $194,508 |
Dividend income from non-affiliates | 1,592 | 1,193,944 | 108,426 | 33,216 |
Dividend income from affiliates | 18 | 2,188 | 2,405 | 161 |
Income from securities lending (net) (See Note 2.C) | — | — | 49 | 2 |
Total investment income | 1,610 | 1,196,132 | 110,880 | 227,887 |
EXPENSES: | ||||
Investment advisory fees | 749 | 196,546 | 3,092 | 5,431 |
Administration fees | 112 | 16,182 | 5,797 | 1,629 |
Distribution fees: | ||||
Class A | 31 | 12,276 | 1,909 | 1,328 |
Class C | 36 | 10,728 | 802 | 3,447 |
Class R2 | — | 452 | — | — |
Class R3 | — | 673 | — | — |
Service fees: | ||||
Class A | 31 | 12,276 | 1,909 | 1,328 |
Class C | 12 | 3,576 | 268 | 1,149 |
Class I | 243 | 47,301 | 3,394 | 2,783 |
Class R2 | — | 226 | — | — |
Class R3 | — | 673 | — | — |
Class R4 | — | 579 | — | — |
Class R5 | — | 1,578 | — | — |
Custodian and accounting fees | 25 | 1,557 | 281 | 100 |
Interest expense to affiliates | — | — | 4 | —(a) |
Professional fees | 50 | 358 | 97 | 86 |
Trustees’ and Chief Compliance Officer’s fees | 26 | 165 | 47 | 31 |
Printing and mailing costs | 3 | 1,490 | 119 | 71 |
Registration and filing fees | 52 | 1,654 | 216 | 692 |
Transfer agency fees (See Note 2.M) | 4 | 809 | 231 | 65 |
Other | 13 | 1,546 | 167 | 62 |
Total expenses | 1,387 | 310,645 | 18,333 | 18,202 |
Less fees waived | (139) | (1,078) | (8,492) | (581) |
Less expense reimbursements | — | — | (42) | — |
Net expenses | 1,248 | 309,567 | 9,799 | 17,621 |
Net investment income (loss) | 362 | 886,565 | 101,081 | 210,266 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | 1,520 | 1,238,681 | (53,205) | (196,716) |
Investments in affiliates | — | (292) | (840) | 1 |
Futures contracts | — | — | 1,729 | (12,847) |
Net realized gain (loss) | 1,520 | 1,238,389 | (52,316) | (209,562) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (21,485) | (2,960,355) | (898,482) | (142,900) |
Investments in affiliates | 1 | (113) | (25,721) | 2 |
Futures contracts | — | — | (919) | 141 |
Change in net unrealized appreciation/depreciation | (21,484) | (2,960,468) | (925,122) | (142,757) |
Net realized/unrealized gains (losses) | (19,964) | (1,722,079) | (977,438) | (352,319) |
Change in net assets resulting from operations | $(19,602) | $(835,514) | $(876,357) | $(142,053) |
June 30, 2022 | J.P. Morgan Large Cap Funds | 105 |
FOR THE YEAR ENDED June 30, 2022 (continued)
(Amounts in thousands)
JPMorgan Hedged Equity Fund | JP Morgan Hedged Equity 2 Fund | JP Morgan Hedged Equity 3 Fund | JPMorgan Large Cap Growth Fund | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $— | $2 | $— | $8 |
Dividend income from non-affiliates | 252,138 | 52,290 | 27,928 | 270,438 |
Dividend income from affiliates | 213 | 202 | 103 | 5,759 |
Income from securities lending (net) (See Note 2.C) | — | — | — | 144 |
Total investment income | 252,351 | 52,494 | 28,031 | 276,349 |
EXPENSES: | ||||
Investment advisory fees | 46,664 | 9,239 | 4,967 | 168,383 |
Administration fees | 11,819 | 2,772 | 1,490 | 14,872 |
Distribution fees: | ||||
Class A | 4,541 | 522 | 204 | 12,017 |
Class C | 3,691 | 1,292 | 511 | 5,602 |
Class R2 | — | — | — | 622 |
Class R3 | — | — | — | 650 |
Service fees: | ||||
Class A | 4,541 | 522 | 204 | 12,017 |
Class C | 1,230 | 430 | 170 | 1,867 |
Class I | 36,231 | 7,315 | 3,867 | 27,144 |
Class R2 | — | — | — | 311 |
Class R3 | — | — | — | 650 |
Class R4 | — | — | — | 503 |
Class R5 | 6 | 1 | — | 862 |
Custodian and accounting fees | 618 | 147 | 94 | 1,169 |
Interest expense to affiliates | —(a) | — | — | — |
Professional fees | 190 | 86 | 76 | 289 |
Trustees’ and Chief Compliance Officer’s fees | 79 | 35 | 31 | 132 |
Printing and mailing costs | 804 | 157 | 92 | 1,068 |
Registration and filing fees | 880 | 1,180 | 736 | 1,984 |
Transfer agency fees (See Note 2.M) | 245 | 38 | 19 | 704 |
Offering costs (See Note 2.K) | — | 69 | 70 | — |
Other | 688 | 119 | 54 | 1,054 |
Total expenses | 112,227 | 23,924 | 12,585 | 251,900 |
Less fees waived | (203) | (808) | (597) | (26,043) |
Less expense reimbursements | — | (74) | (72) | (15) |
Net expenses | 112,024 | 23,042 | 11,916 | 225,842 |
Net investment income (loss) | 140,327 | 29,452 | 16,115 | 50,507 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | 962,674 | (129,673) | (46,588) | 1,518,098 |
Investments in affiliates | — | — | — | (377) |
Options purchased | 399,733 | (80,522) | (184,631) | — |
Futures contracts | (6,484) | (6,625) | (3,007) | — |
Options written | 162,347 | 155,021 | 140,247 | — |
Net realized gain (loss) | 1,518,270 | (61,799) | (93,979) | 1,517,721 |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (2,740,155) | (687,185) | (342,220) | (9,342,995) |
Investments in affiliates | — | — | — | (196) |
Options purchased | (26,130) | 73,443 | 63,887 | — |
Futures contracts | (1,797) | (145) | (335) | — |
Options written | (1,406) | 167,188 | 49,931 | — |
Change in net unrealized appreciation/depreciation | (2,769,488) | (446,699) | (228,737) | (9,343,191) |
Net realized/unrealized gains (losses) | (1,251,218) | (508,498) | (322,716) | (7,825,470) |
Change in net assets resulting from operations | $(1,110,891) | $(479,046) | $(306,601) | $(7,774,963) |
106 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Large Cap Value Fund | JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | JPMorgan U.S. Equity Fund | JPMorgan U.S. GARP Equity Fund | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $— | $— | $9 | $1 |
Dividend income from non-affiliates | 63,169 | 4,973 | 273,168 | 9,841 |
Dividend income from affiliates | 302 | 9 | 1,142 | 71 |
Income from securities lending (net) (See Note 2.C) | 25 | —(a) | 46 | 40 |
Total investment income | 63,496 | 4,982 | 274,365 | 9,953 |
EXPENSES: | ||||
Investment advisory fees | 13,536 | 712 | 83,788 | 3,713 |
Administration fees | 2,538 | 178 | 12,728 | 928 |
Distribution fees: | ||||
Class A | 556 | 146 | 4,432 | 294 |
Class C | 512 | 74 | 2,994 | 210 |
Class R2 | 59 | 15 | 1,324 | 217 |
Class R3 | 8 | — | 450 | — |
Service fees: | ||||
Class A | 556 | 146 | 4,432 | 294 |
Class C | 171 | 25 | 998 | 70 |
Class I | 3,262 | 300 | 4,923 | 355 |
Class L | — | — | 1,899 | — |
Class R2 | 29 | 7 | 662 | 109 |
Class R3 | 8 | — | 450 | — |
Class R4 | 1 | — | 146 | — |
Class R5 | 25 | 4 | 1,081 | 143 |
Custodian and accounting fees | 125 | 26 | 658 | 46 |
Interest expense to affiliates | 1 | — | 1 | — |
Professional fees | 70 | 71 | 181 | 58 |
Trustees’ and Chief Compliance Officer’s fees | 33 | 26 | 85 | 29 |
Printing and mailing costs | 93 | 8 | 235 | 44 |
Registration and filing fees | 390 | 66 | 715 | 95 |
Transfer agency fees (See Note 2.M) | 321 | 11 | 359 | 47 |
Other | 116 | 21 | 500 | 37 |
Total expenses | 22,410 | 1,836 | 123,041 | 6,689 |
Less fees waived | (2,339) | (502) | (6,910) | (798) |
Less expense reimbursements | (18) | (1) | (126) | — |
Net expenses | 20,053 | 1,333 | 116,005 | 5,891 |
Net investment income (loss) | 43,443 | 3,649 | 158,360 | 4,062 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | 163,511 | 43,569 | 1,076,124 | 119,281 |
Investments in affiliates | (8) | —(a) | (137) | (5) |
Futures contracts | — | (127) | (45,371) | (996) |
Net realized gain (loss) | 163,503 | 43,442 | 1,030,616 | 118,280 |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (382,739) | (53,165) | (3,200,832) | (314,612) |
Investments in affiliates | 8 | — | 32 | (1) |
Futures contracts | — | (3) | 3,430 | (1,571) |
Change in net unrealized appreciation/depreciation | (382,731) | (53,168) | (3,197,370) | (316,184) |
Net realized/unrealized gains (losses) | (219,228) | (9,726) | (2,166,754) | (197,904) |
Change in net assets resulting from operations | $(175,785) | $(6,077) | $(2,008,394) | $(193,842) |
June 30, 2022 | J.P. Morgan Large Cap Funds | 107 |
FOR THE YEAR ENDED June 30, 2022 (continued)
(Amounts in thousands)
JPMorgan U.S. Large Cap Core Plus Fund | JPMorgan U.S. Research Enhanced Equity Fund | JPMorgan U.S. Sustainable Leaders Fund | JPMorgan U.S. Value Fund | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $— | $3 | $— | $— |
Dividend income from non-affiliates | 36,848 | 83,193 | 2,329 | 45,713 |
Dividend income from affiliates | 48 | 271 | 8 | 193 |
Income from securities lending (net) (See Note 2.C) | — | — | 3 | — |
Total investment income | 36,896 | 83,467 | 2,340 | 45,906 |
EXPENSES: | ||||
Investment advisory fees | 15,781 | 14,947 | 536 | 8,798 |
Administration fees | 1,821 | 4,484 | 134 | 1,650 |
Distribution fees: | ||||
Class A | 803 | 419 | 86 | 1,558 |
Class C | 269 | — | 36 | 402 |
Class R2 | 29 | — | — | 15 |
Class R3 | — | — | — | 18 |
Service fees: | ||||
Class A | 803 | 419 | 86 | 1,558 |
Class C | 90 | — | 12 | 134 |
Class I | 3,833 | 1,794 | 257 | 2,778 |
Class R2 | 14 | — | — | 7 |
Class R3 | — | — | — | 18 |
Class R4 | — | — | — | 1 |
Class R5 | 34 | — | — | 2 |
Custodian and accounting fees | 92 | 190 | 31 | 83 |
Interest expense to affiliates | —(a) | —(a) | — | — |
Professional fees | 68 | 88 | 51 | 62 |
Trustees’ and Chief Compliance Officer’s fees | 32 | 42 | 25 | 31 |
Printing and mailing costs | 56 | 34 | 35 | 96 |
Registration and filing fees | 69 | 300 | 93 | 400 |
Transfer agency fees (See Note 2.M) | 58 | 62 | 8 | 141 |
Dividend expense to non-affiliates on securities sold short | 15,031 | — | — | — |
Interest expense to non-affiliates on securities sold short | 3,215 | — | — | — |
Other | 93 | 110 | 17 | 95 |
Total expenses | 42,191 | 22,889 | 1,407 | 17,847 |
Less fees waived | (2,919) | (6,655) | (605) | (1,665) |
Less expense reimbursements | (4) | — | (1) | (6) |
Net expenses | 39,268 | 16,234 | 801 | 16,176 |
Net investment income (loss) | (2,372) | 67,233 | 1,539 | 29,730 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | 576,813 | 232,668 | (6,008) | 873 |
Investments in affiliates | (2) | (46) | (1) | (21) |
Futures contracts | (1,276) | (12,258) | (419) | — |
Securities sold short | (47,163) | — | — | — |
Net realized gain (loss) | 528,372 | 220,364 | (6,428) | 852 |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (856,556) | (1,098,448) | (32,652) | (206,747) |
Investments in affiliates | —(a) | —(a) | (1) | 7 |
Futures contracts | — | (3,803) | (126) | — |
Securities sold short | 109,819 | — | — | — |
Change in net unrealized appreciation/depreciation | (746,737) | (1,102,251) | (32,779) | (206,740) |
Net realized/unrealized gains (losses) | (218,365) | (881,887) | (39,207) | (205,888) |
Change in net assets resulting from operations | $(220,737) | $(814,654) | $(37,668) | $(176,158) |
108 | J.P. Morgan Large Cap Funds | June 30, 2022 |
FOR THE PERIODS INDICATED
(Amounts in thousands)
JPMorgan Equity Focus Fund | JPMorgan Equity Income Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $362 | $348 | $886,565 | $665,372 |
Net realized gain (loss) | 1,520 | 17,317 | 1,238,389 | 933,009 |
Change in net unrealized appreciation/depreciation | (21,484) | 22,946 | (2,960,468) | 10,722,892 |
Change in net assets resulting from operations | (19,602) | 40,611 | (835,514) | 12,321,273 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (1,192) | (862) | (164,725) | (59,104) |
Class C | (513) | (403) | (42,186) | (14,553) |
Class I | (9,277) | (7,180) | (669,432) | (245,584) |
Class R2 | — | — | (2,569) | (921) |
Class R3 | — | — | (8,711) | (3,447) |
Class R4 | — | — | (8,137) | (3,022) |
Class R5 | — | — | (58,431) | (26,918) |
Class R6 | (3,810) | (3,356) | (826,895) | (310,281) |
Total distributions to shareholders | (14,792) | (11,801) | (1,781,086) | (663,830) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 82,423 | 18,030 | 2,182,357 | 5,193,277 |
NET ASSETS: | ||||
Change in net assets | 48,029 | 46,840 | (434,243) | 16,850,720 |
Beginning of period | 131,894 | 85,054 | 46,405,657 | 29,554,937 |
End of period | $179,923 | $131,894 | $45,971,414 | $46,405,657 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 109 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Equity Index Fund | JPMorgan Equity Premium Income Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $101,081 | $86,869 | $210,266 | $34,890 |
Net realized gain (loss) | (52,316) | 83,243 | (209,562) | (4,048) |
Change in net unrealized appreciation/depreciation | (925,122) | 1,884,412 | (142,757) | 61,774 |
Change in net assets resulting from operations | (876,357) | 2,054,524 | (142,053) | 92,616 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (17,775) | (8,535) | (51,883) | (3,484) |
Class C | (1,864) | (710) | (42,257) | (2,300) |
Class I | (36,175) | (15,010) | (109,468) | (25,702) |
Class R5 | — | — | (10) | (5) |
Class R6 | (150,588) | (74,066) | (6,808) | (3,425) |
Total distributions to shareholders | (206,402) | (98,321) | (210,426) | (34,916) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 1,696,102 | (315,633) | 3,062,266 | 651,374 |
NET ASSETS: | ||||
Change in net assets | 613,343 | 1,640,570 | 2,709,787 | 709,074 |
Beginning of period | 6,644,441 | 5,003,871 | 900,804 | 191,730 |
End of period | $7,257,784 | $6,644,441 | $3,610,591 | $900,804 |
110 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Hedged Equity Fund | JPMorgan Hedged Equity 2 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Period Ended June 30, 2021 (a) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $140,327 | $124,937 | $29,452 | $1,623 |
Net realized gain (loss) | 1,518,270 | (1,966,393) | (61,799) | (9,789) |
Change in net unrealized appreciation/depreciation | (2,769,488) | 4,396,300 | (446,699) | 41,762 |
Change in net assets resulting from operations | (1,110,891) | 2,554,844 | (479,046) | 33,596 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (9,354) | (7,417) | (1,015) | (25) |
Class C | (427) | (1,096) | (134) | (1) |
Class I | (108,876) | (115,685) | (21,141) | (785) |
Class R5 | (54) | (47) | (5) | (1) |
Class R6 | (18,335) | (15,731) | (4,458) | (305) |
Total distributions to shareholders | (137,046) | (139,976) | (26,753) | (1,117) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | (552,652) | 7,138,463 | 4,737,398 | 1,359,389 |
NET ASSETS: | ||||
Change in net assets | (1,800,589) | 9,553,331 | 4,231,599 | 1,391,868 |
Beginning of period | 18,294,923 | 8,741,592 | 1,391,868 | — |
End of period | $16,494,334 | $18,294,923 | $5,623,467 | $1,391,868 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 111 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Hedged Equity 3 Fund | JPMorgan Large Cap Growth Fund | |||
Year Ended June 30, 2022 | Period Ended June 30, 2021 (a) | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $16,115 | $641 | $50,507 | $(41,950) |
Net realized gain (loss) | (93,979) | (7,884) | 1,517,721 | 5,959,007 |
Change in net unrealized appreciation/depreciation | (228,737) | 20,718 | (9,343,191) | 4,245,115 |
Change in net assets resulting from operations | (306,601) | 13,475 | (7,774,963) | 10,162,172 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (392) | (15) | (708,158) | (229,243) |
Class C | (57) | (3) | (155,323) | (49,805) |
Class I | (11,480) | (417) | (1,544,842) | (484,046) |
Class R2 | — | — | (20,184) | (7,546) |
Class R3 | — | — | (39,213) | (8,542) |
Class R4 | — | — | (31,893) | (6,602) |
Class R5 | (1) | — | (117,247) | (48,291) |
Class R6 | (2,793) | (2) | (2,685,495) | (774,029) |
Total distributions to shareholders | (14,723) | (437) | (5,302,355) | (1,608,104) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 2,606,051 | 553,528 | 7,007,636 | 5,597,146 |
NET ASSETS: | ||||
Change in net assets | 2,284,727 | 566,566 | (6,069,682) | 14,151,214 |
Beginning of period | 566,566 | — | 37,416,380 | 23,265,166 |
End of period | $2,851,293 | $566,566 | $31,346,698 | $37,416,380 |
112 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Large Cap Value Fund | JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $43,443 | $19,708 | $3,649 | $4,072 |
Net realized gain (loss) | 163,503 | 227,272 | 43,442 | 30,613 |
Change in net unrealized appreciation/depreciation | (382,731) | 529,855 | (53,168) | 61,725 |
Change in net assets resulting from operations | (175,785) | 776,835 | (6,077) | 96,410 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (16,253) | (755) | (14,584) | (1,695) |
Class C | (4,773) | (69) | (2,524) | (287) |
Class I | (104,910) | (4,846) | (30,625) | (4,082) |
Class R2 | (882) | (42) | (689) | (85) |
Class R3 | (34) | — | — | — |
Class R4 | (16) | — | — | — |
Class R5 | (1,981) | (193) | (1,033) | (141) |
Class R6 | (126,428) | (12,971) | (10,385) | (2,355) |
Total distributions to shareholders | (255,277) | (18,876) | (59,840) | (8,645) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | (714,390) | 2,323,514 | (13,864) | (67,252) |
NET ASSETS: | ||||
Change in net assets | (1,145,452) | 3,081,473 | (79,781) | 20,513 |
Beginning of period | 4,341,470 | 1,259,997 | 276,279 | 255,766 |
End of period | $3,196,018 | $4,341,470 | $196,498 | $276,279 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 113 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan U.S. Equity Fund | JPMorgan U.S. GARP Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $158,360 | $151,578 | $4,062 | $4,455 |
Net realized gain (loss) | 1,030,616 | 2,016,851 | 118,280 | 196,953 |
Change in net unrealized appreciation/depreciation | (3,197,370) | 4,026,205 | (316,184) | 220,654 |
Change in net assets resulting from operations | (2,008,394) | 6,194,634 | (193,842) | 422,062 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (181,929) | (83,977) | (23,478) | (9,875) |
Class C | (41,990) | (17,652) | (5,967) | (2,514) |
Class I | (202,500) | (87,780) | (31,685) | (13,950) |
Class L | (202,579) | (164,969) | — | — |
Class R2 | (26,985) | (14,883) | (9,121) | (4,145) |
Class R3 | (18,705) | (8,862) | — | — |
Class R4 | (6,517) | (1,911) | — | — |
Class R5 | (115,744) | (60,489) | (26,875) | (20,231) |
Class R6 | (1,409,196) | (727,732) | (145,336) | (67,081) |
Total distributions to shareholders | (2,206,145) | (1,168,255) | (242,462) | (117,796) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 2,977,797 | (121,490) | 104,865 | (111,060) |
NET ASSETS: | ||||
Change in net assets | (1,236,742) | 4,904,889 | (331,439) | 193,206 |
Beginning of period | 19,843,651 | 14,938,762 | 1,307,588 | 1,114,382 |
End of period | $18,606,909 | $19,843,651 | $976,149 | $1,307,588 |
114 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan U.S. Large Cap Core Plus Fund | JPMorgan U.S. Research Enhanced Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $(2,372) | $(4,044) | $67,233 | $58,068 |
Net realized gain (loss) | 528,372 | 1,008,393 | 220,364 | 562,881 |
Change in net unrealized appreciation/depreciation | (746,737) | 54,134 | (1,102,251) | 1,148,187 |
Change in net assets resulting from operations | (220,737) | 1,058,483 | (814,654) | 1,769,136 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (81,344) | (77,084) | (20,391) | (7,423) |
Class C | (10,063) | (9,299) | — | — |
Class I | (393,194) | (515,371) | (89,423) | (25,017) |
Class R2 | (1,484) | (1,244) | — | — |
Class R5 | (7,963) | (9,627) | — | — |
Class R6 | (131,817) | (147,178) | (594,375) | (159,941) |
Total distributions to shareholders | (625,865) | (759,803) | (704,189) | (192,381) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | (167,574) | (697,740) | 3,217,839 | (889,477) |
NET ASSETS: | ||||
Change in net assets | (1,014,176) | (399,060) | 1,698,996 | 687,278 |
Beginning of period | 2,651,246 | 3,050,306 | 5,052,042 | 4,364,764 |
End of period | $1,637,070 | $2,651,246 | $6,751,038 | $5,052,042 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 115 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan U.S. Sustainable Leaders Fund | JPMorgan U.S. Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $1,539 | $719 | $29,730 | $14,952 |
Net realized gain (loss) | (6,428) | 4,226 | 852 | 44,116 |
Change in net unrealized appreciation/depreciation | (32,779) | 19,592 | (206,740) | 351,990 |
Change in net assets resulting from operations | (37,668) | 24,537 | (176,158) | 411,058 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (1,320) | (235) | (17,510) | (10,335) |
Class C | (170) | (30) | (1,448) | (611) |
Class I | (4,168) | (711) | (31,283) | (11,089) |
Class R2 | — | — | (74) | (33) |
Class R3 | — | — | (246) | (16) |
Class R4 | — | — | (8) | (24) |
Class R5 | — | — | (100) | (3) |
Class R6 (a) | (1,394) | (247) | (12,025) | (4,026) |
Total distributions to shareholders | (7,052) | (1,223) | (62,694) | (26,137) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 114,576 | 51,536 | 1,346,195 | 595,210 |
NET ASSETS: | ||||
Change in net assets | 69,856 | 74,850 | 1,107,343 | 980,131 |
Beginning of period | 115,550 | 40,700 | 1,706,985 | 726,854 |
End of period | $185,406 | $115,550 | $2,814,328 | $1,706,985 |
116 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Equity Focus Fund | JPMorgan Equity Income Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $13,655 | $3,527 | $729,686 | $1,280,565 |
Distributions reinvested | 1,192 | 862 | 153,110 | 55,042 |
Cost of shares redeemed | (4,319) | (2,169) | (776,708) | (1,092,878) |
Change in net assets resulting from Class A capital transactions | 10,528 | 2,220 | 106,088 | 242,729 |
Class C | ||||
Proceeds from shares issued | 2,980 | 419 | 107,183 | 243,967 |
Distributions reinvested | 513 | 403 | 38,831 | 13,343 |
Cost of shares redeemed | (286) | (612) | (366,921) | (552,490) |
Change in net assets resulting from Class C capital transactions | 3,207 | 210 | (220,907) | (295,180) |
Class I | ||||
Proceeds from shares issued | 59,967 | 9,125 | 4,277,091 | 5,967,956 |
Distributions reinvested | 9,276 | 7,180 | 611,196 | 221,627 |
Cost of shares redeemed | (8,874) | (3,056) | (4,266,919) | (3,358,152) |
Change in net assets resulting from Class I capital transactions | 60,369 | 13,249 | 621,368 | 2,831,431 |
Class R2 | ||||
Proceeds from shares issued | — | — | 55,288 | 18,279 |
Distributions reinvested | — | — | 2,523 | 901 |
Cost of shares redeemed | — | — | (25,869) | (37,123) |
Change in net assets resulting from Class R2 capital transactions | — | — | 31,942 | (17,943) |
Class R3 | ||||
Proceeds from shares issued | — | — | 59,868 | 94,161 |
Distributions reinvested | — | — | 6,729 | 2,770 |
Cost of shares redeemed | — | — | (103,259) | (57,502) |
Change in net assets resulting from Class R3 capital transactions | — | — | (36,662) | 39,429 |
Class R4 | ||||
Proceeds from shares issued | — | — | 72,823 | 153,736 |
Distributions reinvested | — | — | 8,137 | 3,022 |
Cost of shares redeemed | — | — | (107,227) | (68,895) |
Change in net assets resulting from Class R4 capital transactions | — | — | (26,267) | 87,863 |
Class R5 | ||||
Proceeds from shares issued | — | — | 273,919 | 365,652 |
Distributions reinvested | — | — | 56,256 | 25,988 |
Cost of shares redeemed | — | — | (616,133) | (420,221) |
Change in net assets resulting from Class R5 capital transactions | — | — | (285,958) | (28,581) |
June 30, 2022 | J.P. Morgan Large Cap Funds | 117 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Equity Focus Fund | JPMorgan Equity Income Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $7,495 | $2,422 | $6,295,923 | $6,385,588 |
Distributions reinvested | 3,808 | 3,353 | 795,963 | 296,277 |
Cost of shares redeemed | (2,984) | (3,424) | (5,099,133) | (4,348,336) |
Change in net assets resulting from Class R6 capital transactions | 8,319 | 2,351 | 1,992,753 | 2,333,529 |
Total change in net assets resulting from capital transactions | $82,423 | $18,030 | $2,182,357 | $5,193,277 |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 422 | 112 | 32,056 | 66,002 |
Reinvested | 36 | 29 | 6,715 | 2,827 |
Redeemed | (131) | (70) | (34,107) | (57,193) |
Change in Class A Shares | 327 | 71 | 4,664 | 11,636 |
Class C | ||||
Issued | 100 | 13 | 4,817 | 12,513 |
Reinvested | 16 | 15 | 1,740 | 703 |
Redeemed | (9) | (21) | (16,497) | (29,946) |
Change in Class C Shares | 107 | 7 | (9,940) | (16,730) |
Class I | ||||
Issued | 1,823 | 283 | 184,268 | 299,334 |
Reinvested | 272 | 239 | 26,306 | 11,118 |
Redeemed | (275) | (97) | (183,505) | (169,937) |
Change in Class I Shares | 1,820 | 425 | 27,069 | 140,515 |
Class R2 | ||||
Issued | — | — | 2,393 | 934 |
Reinvested | — | — | 111 | 47 |
Redeemed | — | — | (1,142) | (1,951) |
Change in Class R2 Shares | — | — | 1,362 | (970) |
Class R3 | ||||
Issued | — | — | 2,633 | 4,910 |
Reinvested | — | — | 295 | 142 |
Redeemed | — | — | (4,499) | (2,969) |
Change in Class R3 Shares | — | — | (1,571) | 2,083 |
Class R4 | ||||
Issued | — | — | 3,143 | 7,771 |
Reinvested | — | — | 351 | 150 |
Redeemed | — | — | (4,626) | (3,389) |
Change in Class R4 Shares | — | — | (1,132) | 4,532 |
118 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Equity Focus Fund | JPMorgan Equity Income Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R5 | ||||
Issued | — | — | 11,784 | 18,235 |
Reinvested | — | — | 2,419 | 1,312 |
Redeemed | — | — | (26,600) | (21,287) |
Change in Class R5 Shares | — | — | (12,397) | (1,740) |
Class R6 | ||||
Issued | 229 | 76 | 270,256 | 319,793 |
Reinvested | 112 | 112 | 34,266 | 14,863 |
Redeemed | (87) | (109) | (219,071) | (224,750) |
Change in Class R6 Shares | 254 | 79 | 85,451 | 109,906 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 119 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Equity Index Fund | JPMorgan Equity Premium Income Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $82,713 | $74,031 | $903,577 | $177,480 |
Distributions reinvested | 17,193 | 8,283 | 51,745 | 3,413 |
Cost of shares redeemed | (96,507) | (119,065) | (133,894) | (25,791) |
Change in net assets resulting from Class A capital transactions | 3,399 | (36,751) | 821,428 | 155,102 |
Class C | ||||
Proceeds from shares issued | 13,393 | 12,852 | 736,373 | 155,434 |
Distributions reinvested | 1,551 | 573 | 42,175 | 2,275 |
Cost of shares redeemed | (25,208) | (39,283) | (104,072) | (8,379) |
Change in net assets resulting from Class C capital transactions | (10,264) | (25,858) | 674,476 | 149,330 |
Class I | ||||
Proceeds from shares issued | 1,002,982 | 246,978 | 1,939,110 | 413,338 |
Distributions reinvested | 34,655 | 14,184 | 107,196 | 25,319 |
Cost of shares redeemed | (713,355) | (612,226) | (530,901) | (135,112) |
Change in net assets resulting from Class I capital transactions | 324,282 | (351,064) | 1,515,405 | 303,545 |
Class R5 | ||||
Proceeds from shares issued | — | — | 97 | 54 |
Distributions reinvested | — | — | 11 | 5 |
Cost of shares redeemed | — | — | (21) | —(a) |
Change in net assets resulting from Class R5 capital transactions | — | — | 87 | 59 |
Class R6 | ||||
Proceeds from shares issued | 2,125,519 | 1,831,702 | 61,071 | 47,093 |
Distributions reinvested | 147,435 | 73,037 | 950 | 126 |
Cost of shares redeemed | (894,269) | (1,806,699) | (11,151) | (3,881) |
Change in net assets resulting from Class R6 capital transactions | 1,378,685 | 98,040 | 50,870 | 43,338 |
Total change in net assets resulting from capital transactions | $1,696,102 | $(315,633) | $3,062,266 | $651,374 |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 1,254 | 1,327 | 59,643 | 11,996 |
Reinvested | 254 | 147 | 3,498 | 234 |
Redeemed | (1,462) | (2,136) | (8,945) | (1,795) |
Change in Class A Shares | 46 | (662) | 54,196 | 10,435 |
Class C | ||||
Issued | 203 | 229 | 48,586 | 10,447 |
Reinvested | 23 | 11 | 2,850 | 154 |
Redeemed | (388) | (738) | (7,026) | (568) |
Change in Class C Shares | (162) | (498) | 44,410 | 10,033 |
120 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Equity Index Fund | JPMorgan Equity Premium Income Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class I | ||||
Issued | 15,113 | 4,416 | 129,090 | 28,524 |
Reinvested | 511 | 253 | 7,228 | 1,777 |
Redeemed | (11,065) | (11,138) | (35,676) | (9,545) |
Change in Class I Shares | 4,559 | (6,469) | 100,642 | 20,756 |
Class R5 | ||||
Issued | — | — | 6 | 4 |
Reinvested | — | — | 1 | —(a) |
Redeemed | — | — | (1) | —(a) |
Change in Class R5 Shares | — | — | 6 | 4 |
Class R6 | ||||
Issued | 32,487 | 32,382 | 3,994 | 3,379 |
Reinvested | 2,194 | 1,283 | 64 | 9 |
Redeemed | (13,096) | (30,349) | (741) | (269) |
Change in Class R6 Shares | 21,585 | 3,316 | 3,317 | 3,119 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 121 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Hedged Equity Fund | JPMorgan Hedged Equity 2 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Period Ended June 30, 2021(a) | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $574,974 | $1,460,355 | $365,352 | $54,055 |
Distributions reinvested | 9,306 | 7,380 | 1,015 | 25 |
Cost of shares redeemed | (592,347) | (340,811) | (92,936) | (2,233) |
Change in net assets resulting from Class A capital transactions | (8,067) | 1,126,924 | 273,431 | 51,847 |
Class C | ||||
Proceeds from shares issued | 38,503 | 242,865 | 235,920 | 57,384 |
Distributions reinvested | 427 | 1,095 | 134 | 1 |
Cost of shares redeemed | (72,125) | (53,065) | (28,929) | (1,122) |
Change in net assets resulting from Class C capital transactions | (33,195) | 190,895 | 207,125 | 56,263 |
Class I | ||||
Proceeds from shares issued | 3,633,533 | 8,854,409 | 5,016,234 | 1,069,346 |
Distributions reinvested | 105,652 | 111,688 | 21,057 | 783 |
Cost of shares redeemed | (4,412,213) | (3,681,719) | (1,543,931) | (75,413) |
Change in net assets resulting from Class I capital transactions | (673,028) | 5,284,378 | 3,493,360 | 994,716 |
Class R5 | ||||
Proceeds from shares issued | 1,099 | 3,519 | 152 | 545 |
Distributions reinvested | 54 | 47 | 5 | 1 |
Cost of shares redeemed | (1,444) | (1,189) | (10) | (21) |
Change in net assets resulting from Class R5 capital transactions | (291) | 2,377 | 147 | 525 |
Class R6 | ||||
Proceeds from shares issued | 1,118,361 | 1,000,413 | 1,278,117 | 261,104 |
Distributions reinvested | 8,295 | 7,536 | 4,411 | 300 |
Cost of shares redeemed | (964,727) | (474,060) | (519,193) | (5,366) |
Change in net assets resulting from Class R6 capital transactions | 161,929 | 533,889 | 763,335 | 256,038 |
Total change in net assets resulting from capital transactions | $(552,652) | $7,138,463 | $4,737,398 | $1,359,389 |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 22,386 | 60,745 | 22,315 | 3,452 |
Reinvested | 362 | 303 | 64 | 2 |
Redeemed | (23,352) | (14,054) | (5,841) | (142) |
Change in Class A Shares | (604) | 46,994 | 16,538 | 3,312 |
Class C | ||||
Issued | 1,483 | 10,337 | 14,471 | 3,672 |
Reinvested | 17 | 48 | 9 | —(b) |
Redeemed | (2,834) | (2,234) | (1,814) | (72) |
Change in Class C Shares | (1,334) | 8,151 | 12,666 | 3,600 |
122 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Hedged Equity Fund | JPMorgan Hedged Equity 2 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Period Ended June 30, 2021(a) | |
SHARE TRANSACTIONS: (continued) | ||||
Class I | ||||
Issued | 139,740 | 374,344 | 308,174 | 68,491 |
Reinvested | 4,091 | 4,623 | 1,329 | 49 |
Redeemed | (172,020) | (151,283) | (97,196) | (4,782) |
Change in Class I Shares | (28,189) | 227,684 | 212,307 | 63,758 |
Class R5 | ||||
Issued | 41 | 144 | 11 | 34 |
Reinvested | 2 | 2 | — | —(b) |
Redeemed | (56) | (49) | (1) | (1) |
Change in Class R5 Shares | (13) | 97 | 10 | 33 |
Class R6 | ||||
Issued | 42,491 | 41,538 | 80,367 | 16,725 |
Reinvested | 320 | 308 | 281 | 19 |
Redeemed | (37,604) | (19,494) | (31,566) | (340) |
Change in Class R6 Shares | 5,207 | 22,352 | 49,082 | 16,404 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 123 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Hedged Equity 3 Fund | JPMorgan Large Cap Growth Fund | |||
Year Ended June 30, 2022 | Period Ended June 30, 2021(a) | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $152,621 | $22,160 | $884,596 | $1,542,784 |
Distributions reinvested | 390 | 15 | 647,832 | 209,959 |
Cost of shares redeemed | (48,794) | (998) | (1,080,397) | (1,237,783) |
Change in net assets resulting from Class A capital transactions | 104,217 | 21,177 | 452,031 | 514,960 |
Class C | ||||
Proceeds from shares issued | 100,232 | 19,425 | 144,403 | 263,027 |
Distributions reinvested | 57 | 3 | 142,887 | 45,342 |
Cost of shares redeemed | (10,009) | (464) | (201,740) | (425,827) |
Change in net assets resulting from Class C capital transactions | 90,280 | 18,964 | 85,550 | (117,458) |
Class I | ||||
Proceeds from shares issued | 2,794,989 | 575,746 | 4,068,962 | 3,946,027 |
Distributions reinvested | 11,423 | 415 | 1,417,105 | 446,730 |
Cost of shares redeemed | (817,648) | (64,565) | (3,159,637) | (3,034,183) |
Change in net assets resulting from Class I capital transactions | 1,988,764 | 511,596 | 2,326,430 | 1,358,574 |
Class R2 | ||||
Proceeds from shares issued | — | — | 30,734 | 43,616 |
Distributions reinvested | — | — | 19,387 | 7,039 |
Cost of shares redeemed | — | — | (44,228) | (76,963) |
Change in net assets resulting from Class R2 capital transactions | — | — | 5,893 | (26,308) |
Class R3 | ||||
Proceeds from shares issued | — | — | 103,911 | 184,953 |
Distributions reinvested | — | — | 25,509 | 5,581 |
Cost of shares redeemed | — | — | (95,868) | (59,342) |
Change in net assets resulting from Class R3 capital transactions | — | — | 33,552 | 131,192 |
Class R4 | ||||
Proceeds from shares issued | — | — | 74,719 | 134,173 |
Distributions reinvested | — | — | 30,607 | 6,602 |
Cost of shares redeemed | — | — | (103,146) | (35,061) |
Change in net assets resulting from Class R4 capital transactions | — | — | 2,180 | 105,714 |
Class R5 | ||||
Proceeds from shares issued | 125 | 20 | 107,123 | 241,401 |
Distributions reinvested | 1 | — | 114,077 | 46,287 |
Cost of shares redeemed | (3) | — | (270,483) | (375,742) |
Change in net assets resulting from Class R5 capital transactions | 123 | 20 | (49,283) | (88,054) |
124 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Hedged Equity 3 Fund | JPMorgan Large Cap Growth Fund | |||
Year Ended June 30, 2022 | Period Ended June 30, 2021(a) | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $599,903 | $1,769 | $5,208,807 | $6,503,315 |
Distributions reinvested | 2,790 | 2 | 2,586,303 | 744,666 |
Cost of shares redeemed | (180,026) | — | (3,643,827) | (3,529,455) |
Change in net assets resulting from Class R6 capital transactions | 422,667 | 1,771 | 4,151,283 | 3,718,526 |
Total change in net assets resulting from capital transactions | $2,606,051 | $553,528 | $7,007,636 | $5,597,146 |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 9,510 | 1,406 | 15,300 | 26,713 |
Reinvested | 25 | 1 | 10,841 | 3,666 |
Redeemed | (3,149) | (63) | (18,900) | (21,267) |
Change in Class A Shares | 6,386 | 1,344 | 7,241 | 9,112 |
Class C | ||||
Issued | 6,240 | 1,235 | 3,495 | 6,214 |
Reinvested | 4 | — | 3,546 | 1,097 |
Redeemed | (648) | (29) | (5,181) | (10,236) |
Change in Class C Shares | 5,596 | 1,206 | 1,860 | (2,925) |
Class I | ||||
Issued | 175,714 | 36,861 | 73,523 | 66,612 |
Reinvested | 739 | 26 | 23,118 | 7,640 |
Redeemed | (52,035) | (4,085) | (54,269) | (51,094) |
Change in Class I Shares | 124,418 | 32,802 | 42,372 | 23,158 |
Class R2 | ||||
Issued | — | — | 544 | 788 |
Reinvested | — | — | 344 | 129 |
Redeemed | — | — | (819) | (1,379) |
Change in Class R2 Shares | — | — | 69 | (462) |
Class R3 | ||||
Issued | — | — | 1,788 | 3,136 |
Reinvested | — | — | 424 | 97 |
Redeemed | — | — | (1,671) | (1,008) |
Change in Class R3 Shares | — | — | 541 | 2,225 |
Class R4 | ||||
Issued | — | — | 1,218 | 2,275 |
Reinvested | — | — | 500 | 113 |
Redeemed | — | — | (1,802) | (586) |
Change in Class R4 Shares | — | — | (84) | 1,802 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 125 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Hedged Equity 3 Fund | JPMorgan Large Cap Growth Fund | |||
Year Ended June 30, 2022 | Period Ended June 30, 2021(a) | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R5 | ||||
Issued | 8 | 1 | 1,736 | 3,948 |
Reinvested | — | — | 1,799 | 769 |
Redeemed | — | — | (4,277) | (6,111) |
Change in Class R5 Shares | 8 | 1 | (742) | (1,394) |
Class R6 | ||||
Issued | 37,661 | 112 | 85,434 | 104,867 |
Reinvested | 179 | — | 40,298 | 12,253 |
Redeemed | (11,135) | — | (59,337) | (57,075) |
Change in Class R6 Shares | 26,705 | 112 | 66,395 | 60,045 |
126 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Large Cap Value Fund | JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $95,190 | $81,668 | $4,279 | $7,017 |
Distributions reinvested | 15,868 | 737 | 14,005 | 1,624 |
Cost of shares redeemed | (63,146) | (49,625) | (13,163) | (15,672) |
Change in net assets resulting from Class A capital transactions | 47,912 | 32,780 | 5,121 | (7,031) |
Class C | ||||
Proceeds from shares issued | 38,979 | 24,043 | 202 | 1,778 |
Distributions reinvested | 4,769 | 68 | 2,517 | 283 |
Cost of shares redeemed | (16,037) | (13,265) | (4,058) | (5,408) |
Change in net assets resulting from Class C capital transactions | 27,711 | 10,846 | (1,339) | (3,347) |
Class I | ||||
Proceeds from shares issued | 1,016,347 | 1,171,550 | 8,287 | 12,129 |
Distributions reinvested | 102,595 | 4,779 | 30,407 | 4,054 |
Cost of shares redeemed | (1,102,687) | (229,227) | (38,846) | (43,512) |
Change in net assets resulting from Class I capital transactions | 16,255 | 947,102 | (152) | (27,329) |
Class R2 | ||||
Proceeds from shares issued | 5,688 | 3,822 | 589 | 546 |
Distributions reinvested | 879 | 42 | 689 | 78 |
Cost of shares redeemed | (3,741) | (18,227) | (826) | (1,206) |
Change in net assets resulting from Class R2 capital transactions | 2,826 | (14,363) | 452 | (582) |
Class R3 | ||||
Proceeds from shares issued | 6,937 | 1 | — | — |
Distributions reinvested | 35 | —(a) | — | — |
Cost of shares redeemed | (671) | (9) | — | — |
Change in net assets resulting from Class R3 capital transactions | 6,301 | (8) | — | — |
Class R4 | ||||
Proceeds from shares issued | 448 | 291 | — | — |
Distributions reinvested | 16 | —(a) | — | — |
Cost of shares redeemed | (52) | (12,452) | — | — |
Change in net assets resulting from Class R4 capital transactions | 412 | (12,161) | — | — |
Class R5 | ||||
Proceeds from shares issued | 10,080 | 9,493 | 629 | 722 |
Distributions reinvested | 1,960 | 191 | 1,031 | 141 |
Cost of shares redeemed | (10,433) | (13,602) | (928) | (2,434) |
Change in net assets resulting from Class R5 capital transactions | 1,607 | (3,918) | 732 | (1,571) |
June 30, 2022 | J.P. Morgan Large Cap Funds | 127 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Large Cap Value Fund | JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $423,123 | $1,547,366 | $14,684 | $14,127 |
Distributions reinvested | 121,735 | 12,895 | 10,380 | 2,353 |
Cost of shares redeemed | (1,362,272) | (197,025) | (43,742) | (43,872) |
Change in net assets resulting from Class R6 capital transactions | (817,414) | 1,363,236 | (18,678) | (27,392) |
Total change in net assets resulting from capital transactions | $(714,390) | $2,323,514 | $(13,864) | $(67,252) |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 4,825 | 4,245 | 133 | 230 |
Reinvested | 850 | 46 | 473 | 56 |
Redeemed | (3,200) | (3,017) | (409) | (535) |
Change in Class A Shares | 2,475 | 1,274 | 197 | (249) |
Class C | ||||
Issued | 2,075 | 1,298 | 7 | 57 |
Reinvested | 270 | 5 | 87 | 10 |
Redeemed | (857) | (883) | (132) | (188) |
Change in Class C Shares | 1,488 | 420 | (38) | (121) |
Class I | ||||
Issued | 53,097 | 62,079 | 259 | 378 |
Reinvested | 5,605 | 273 | 1,014 | 139 |
Redeemed | (56,544) | (12,774) | (1,241) | (1,437) |
Change in Class I Shares | 2,158 | 49,578 | 32 | (920) |
Class R2 | ||||
Issued | 289 | 222 | 19 | 17 |
Reinvested | 48 | 3 | 24 | 3 |
Redeemed | (193) | (1,084) | (25) | (41) |
Change in Class R2 Shares | 144 | (859) | 18 | (21) |
Class R3 | ||||
Issued | 375 | 1 | — | — |
Reinvested | 2 | —(a) | — | — |
Redeemed | (34) | (1) | — | — |
Change in Class R3 Shares | 343 | —(a) | — | — |
128 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan Large Cap Value Fund | JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R4 | ||||
Issued | 23 | 20 | — | — |
Reinvested | 1 | —(a) | — | — |
Redeemed | (3) | (942) | — | — |
Change in Class R4 Shares | 21 | (922) | — | — |
Class R5 | ||||
Issued | 512 | 517 | 20 | 22 |
Reinvested | 105 | 12 | 34 | 5 |
Redeemed | (531) | (784) | (30) | (84) |
Change in Class R5 Shares | 86 | (255) | 24 | (57) |
Class R6 | ||||
Issued | 21,980 | 76,592 | 454 | 434 |
Reinvested | 6,609 | 760 | 345 | 80 |
Redeemed | (68,921) | (11,736) | (1,239) | (1,493) |
Change in Class R6 Shares | (40,332) | 65,616 | (440) | (979) |
June 30, 2022 | J.P. Morgan Large Cap Funds | 129 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan U.S. Equity Fund | JPMorgan U.S. GARP Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $482,477 | $448,946 | $19,969 | $20,023 |
Distributions reinvested | 169,592 | 78,212 | 17,212 | 7,327 |
Cost of shares redeemed | (353,120) | (1,212,979) | (21,806) | (28,020) |
Change in net assets resulting from Class A capital transactions | 298,949 | (685,821) | 15,375 | (670) |
Class C | ||||
Proceeds from shares issued | 120,939 | 101,446 | 1,206 | 1,789 |
Distributions reinvested | 40,972 | 17,249 | 5,682 | 2,298 |
Cost of shares redeemed | (93,186) | (111,778) | (7,337) | (12,341) |
Change in net assets resulting from Class C capital transactions | 68,725 | 6,917 | (449) | (8,254) |
Class I | ||||
Proceeds from shares issued | 1,070,339 | 676,639 | 24,295 | 13,566 |
Distributions reinvested | 194,327 | 83,781 | 29,393 | 12,855 |
Cost of shares redeemed | (712,132) | (445,901) | (84,539) | (41,096) |
Change in net assets resulting from Class I capital transactions | 552,534 | 314,519 | (30,851) | (14,675) |
Class L | ||||
Proceeds from shares issued | 395,544 | 1,503,646 | — | — |
Distributions reinvested | 188,644 | 156,873 | — | — |
Cost of shares redeemed | (546,594) | (1,609,341) | — | — |
Change in net assets resulting from Class L capital transactions | 37,594 | 51,178 | — | — |
Class R2 | ||||
Proceeds from shares issued | 37,995 | 43,197 | 8,001 | 11,220 |
Distributions reinvested | 26,872 | 14,784 | 9,089 | 4,130 |
Cost of shares redeemed | (63,181) | (74,678) | (14,963) | (20,777) |
Change in net assets resulting from Class R2 capital transactions | 1,686 | (16,697) | 2,127 | (5,427) |
Class R3 | ||||
Proceeds from shares issued | 42,673 | 40,112 | — | — |
Distributions reinvested | 17,015 | 7,878 | — | — |
Cost of shares redeemed | (41,106) | (32,479) | — | — |
Change in net assets resulting from Class R3 capital transactions | 18,582 | 15,511 | — | — |
Class R4 | ||||
Proceeds from shares issued | 29,348 | 19,615 | — | — |
Distributions reinvested | 6,517 | 1,911 | — | — |
Cost of shares redeemed | (12,601) | (6,093) | — | — |
Change in net assets resulting from Class R4 capital transactions | 23,264 | 15,433 | — | — |
Class R5 | ||||
Proceeds from shares issued | 150,643 | 152,803 | 11,706 | 28,851 |
Distributions reinvested | 108,890 | 56,125 | 26,832 | 20,215 |
Cost of shares redeemed | (227,974) | (201,053) | (56,584) | (119,468) |
Change in net assets resulting from Class R5 capital transactions | 31,559 | 7,875 | (18,046) | (70,402) |
130 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan U.S. Equity Fund | JPMorgan U.S. GARP Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $3,344,796 | $3,065,302 | $91,331 | $45,323 |
Distributions reinvested | 1,391,583 | 720,789 | 140,885 | 61,717 |
Cost of shares redeemed | (2,791,475) | (3,616,496) | (95,507) | (118,672) |
Change in net assets resulting from Class R6 capital transactions | 1,944,904 | 169,595 | 136,709 | (11,632) |
Total change in net assets resulting from capital transactions | $2,977,797 | $(121,490) | $104,865 | $(111,060) |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 22,953 | 23,673 | 309 | 314 |
Reinvested | 7,869 | 4,247 | 258 | 119 |
Redeemed | (16,917) | (66,851) | (339) | (431) |
Change in Class A Shares | 13,905 | (38,931) | 228 | 2 |
Class C | ||||
Issued | 5,981 | 5,407 | 19 | 28 |
Reinvested | 1,991 | 981 | 88 | 38 |
Redeemed | (4,695) | (6,150) | (120) | (200) |
Change in Class C Shares | 3,277 | 238 | (13) | (134) |
Class I | ||||
Issued | 51,626 | 34,804 | 370 | 202 |
Reinvested | 8,991 | 4,522 | 427 | 204 |
Redeemed | (34,649) | (22,963) | (1,296) | (615) |
Change in Class I Shares | 25,968 | 16,363 | (499) | (209) |
Class L | ||||
Issued | 18,648 | 82,220 | — | — |
Reinvested | 8,703 | 8,466 | — | — |
Redeemed | (25,845) | (82,827) | — | — |
Change in Class L Shares | 1,506 | 7,859 | — | — |
Class R2 | ||||
Issued | 1,831 | 2,286 | 127 | 177 |
Reinvested | 1,262 | 815 | 141 | 69 |
Redeemed | (3,011) | (3,942) | (243) | (324) |
Change in Class R2 Shares | 82 | (841) | 25 | (78) |
Class R3 | ||||
Issued | 2,026 | 2,150 | — | — |
Reinvested | 793 | 430 | — | — |
Redeemed | (1,947) | (1,724) | — | — |
Change in Class R3 Shares | 872 | 856 | — | — |
June 30, 2022 | J.P. Morgan Large Cap Funds | 131 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan U.S. Equity Fund | JPMorgan U.S. GARP Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R4 | ||||
Issued | 1,342 | 984 | — | — |
Reinvested | 302 | 103 | — | — |
Redeemed | (597) | (311) | — | — |
Change in Class R4 Shares | 1,047 | 776 | — | — |
Class R5 | ||||
Issued | 7,164 | 7,725 | 173 | 442 |
Reinvested | 5,022 | 3,019 | 398 | 326 |
Redeemed | (10,744) | (10,515) | (768) | (1,790) |
Change in Class R5 Shares | 1,442 | 229 | (197) | (1,022) |
Class R6 | ||||
Issued | 158,265 | 159,157 | 1,476 | 690 |
Reinvested | 64,061 | 38,637 | 2,090 | 993 |
Redeemed | (130,138) | (183,543) | (1,286) | (1,768) |
Change in Class R6 Shares | 92,188 | 14,251 | 2,280 | (85) |
132 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan U.S. Large Cap Core Plus Fund | JPMorgan U.S. Research Enhanced Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $32,817 | $67,074 | $43,303 | $52,721 |
Distributions reinvested | 75,295 | 71,308 | 20,245 | 7,384 |
Cost of shares redeemed | (87,007) | (103,562) | (62,282) | (123,854) |
Change in net assets resulting from Class A capital transactions | 21,105 | 34,820 | 1,266 | (63,749) |
Class C | ||||
Proceeds from shares issued | 8,585 | 5,606 | — | — |
Distributions reinvested | 9,642 | 9,039 | — | — |
Cost of shares redeemed | (12,318) | (43,234) | — | — |
Change in net assets resulting from Class C capital transactions | 5,909 | (28,589) | — | — |
Class I | ||||
Proceeds from shares issued | 207,573 | 241,025 | 217,181 | 127,129 |
Distributions reinvested | 379,324 | 497,011 | 61,537 | 17,371 |
Cost of shares redeemed | (792,690) | (946,028) | (196,491) | (230,638) |
Redemptions in-kind | — | (487,288) | — | — |
Conversion from Class L Shares | — | — | — | 368,073 |
Change in net assets resulting from Class I capital transactions | (205,793) | (695,280) | 82,227 | 281,935 |
Class L (a) | ||||
Proceeds from shares issued | — | — | — | 534 |
Cost of shares redeemed | — | — | — | (28,170) |
Conversion to Class I Shares | — | — | — | (368,073) |
Change in net assets resulting from Class L capital transactions | — | — | — | (395,709) |
Class R2 | ||||
Proceeds from shares issued | 794 | 614 | — | — |
Distributions reinvested | 1,468 | 1,205 | — | — |
Cost of shares redeemed | (1,302) | (1,100) | — | — |
Change in net assets resulting from Class R2 capital transactions | 960 | 719 | — | — |
Class R5 | ||||
Proceeds from shares issued | 7,576 | 5,546 | — | — |
Distributions reinvested | 7,761 | 9,489 | — | — |
Cost of shares redeemed | (10,062) | (23,795) | — | — |
Change in net assets resulting from Class R5 capital transactions | 5,275 | (8,760) | — | — |
Class R6 | ||||
Proceeds from shares issued | 85,411 | 127,531 | 3,036,307 | 738,779 |
Distributions reinvested | 95,950 | 112,990 | 592,731 | 159,481 |
Cost of shares redeemed | (176,391) | (241,171) | (494,692) | (1,610,214) |
Change in net assets resulting from Class R6 capital transactions | 4,970 | (650) | 3,134,346 | (711,954) |
Total change in net assets resulting from capital transactions | $(167,574) | $(697,740) | $3,217,839 | $(889,477) |
June 30, 2022 | J.P. Morgan Large Cap Funds | 133 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan U.S. Large Cap Core Plus Fund | JPMorgan U.S. Research Enhanced Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 1,372 | 2,537 | 1,280 | 1,755 |
Reinvested | 3,292 | 3,151 | 572 | 240 |
Redeemed | (3,827) | (4,090) | (1,752) | (3,944) |
Change in Class A Shares | 837 | 1,598 | 100 | (1,949) |
Class C | ||||
Issued | 418 | 242 | — | — |
Reinvested | 490 | 446 | — | — |
Redeemed | (612) | (1,763) | — | — |
Change in Class C Shares | 296 | (1,075) | — | — |
Class I | ||||
Issued | 8,504 | 9,169 | 6,105 | 4,149 |
Reinvested | 16,025 | 21,400 | 1,716 | 556 |
Redeemed | (34,415) | (36,191) | (5,545) | (7,272) |
Redemptions in-kind | — | (19,946) | — | — |
Conversion from Class L Shares | — | — | — | 13,572 |
Change in Class I Shares | (9,886) | (25,568) | 2,276 | 11,005 |
Class L (a) | ||||
Issued | — | — | — | 20 |
Redeemed | — | — | — | (1,046) |
Conversion to Class I Shares | — | — | — | (13,599) |
Change in Class L Shares | — | — | — | (14,625) |
Class R2 | ||||
Issued | 32 | 26 | — | — |
Reinvested | 70 | 56 | — | — |
Redeemed | (56) | (45) | — | — |
Change in Class R2 Shares | 46 | 37 | — | — |
Class R5 | ||||
Issued | 326 | 211 | — | — |
Reinvested | 324 | 405 | — | — |
Redeemed | (424) | (911) | — | — |
Change in Class R5 Shares | 226 | (295) | — | — |
Class R6 | ||||
Issued | 3,406 | 4,669 | 88,874 | 22,714 |
Reinvested | 4,010 | 4,828 | 16,596 | 5,100 |
Redeemed | (7,397) | (9,673) | (13,867) | (47,943) |
Change in Class R6 Shares | 19 | (176) | 91,603 | (20,129) |
134 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan U.S. Sustainable Leaders Fund | JPMorgan U.S. Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $27,657 | $9,507 | $314,010 | $43,922 |
Distributions reinvested | 1,294 | 226 | 16,637 | 9,932 |
Cost of shares redeemed | (7,152) | (1,965) | (71,928) | (188,211) |
Change in net assets resulting from Class A capital transactions | 21,799 | 7,768 | 258,719 | (134,357) |
Class C | ||||
Proceeds from shares issued | 3,680 | 1,229 | 50,471 | 11,138 |
Distributions reinvested | 170 | 30 | 1,297 | 525 |
Cost of shares redeemed | (1,826) | (1,166) | (11,285) | (10,570) |
Change in net assets resulting from Class C capital transactions | 2,024 | 93 | 40,483 | 1,093 |
Class I | ||||
Proceeds from shares issued | 115,790 | 51,880 | 1,347,016 | 663,191 |
Distributions reinvested | 4,010 | 688 | 28,112 | 10,612 |
Cost of shares redeemed | (58,741) | (30,906) | (675,873) | (99,019) |
Change in net assets resulting from Class I capital transactions | 61,059 | 21,662 | 699,255 | 574,784 |
Class R2 | ||||
Proceeds from shares issued | — | — | 2,732 | 1,007 |
Distributions reinvested | — | — | 74 | 33 |
Cost of shares redeemed | — | — | (945) | (694) |
Change in net assets resulting from Class R2 capital transactions | — | — | 1,861 | 346 |
Class R3 | ||||
Proceeds from shares issued | — | — | 10,796 | 943 |
Distributions reinvested | — | — | 216 | 10 |
Cost of shares redeemed | — | — | (2,711) | (166) |
Change in net assets resulting from Class R3 capital transactions | — | — | 8,301 | 787 |
Class R4 | ||||
Proceeds from shares issued | — | — | 292 | 133 |
Distributions reinvested | — | — | 8 | 24 |
Cost of shares redeemed | — | — | (137) | (1,482) |
Change in net assets resulting from Class R4 capital transactions | — | — | 163 | (1,325) |
Class R5 | ||||
Proceeds from shares issued | — | — | 5,175 | 78 |
Distributions reinvested | — | — | 99 | 3 |
Cost of shares redeemed | — | — | (584) | (23) |
Change in net assets resulting from Class R5 capital transactions | — | — | 4,690 | 58 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 135 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan U.S. Sustainable Leaders Fund | JPMorgan U.S. Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 (a) | ||||
Proceeds from shares issued | $34,299 | $23,682 | $391,201 | $310,989 |
Distributions reinvested | 1,393 | 247 | 11,652 | 3,841 |
Cost of shares redeemed | (5,998) | (1,916) | (70,130) | (34,999) |
Redemptions in-kind | — | — | — | (126,007) |
Change in net assets resulting from Class R6 capital transactions | 29,694 | 22,013 | 332,723 | 153,824 |
Total change in net assets resulting from capital transactions | $114,576 | $51,536 | $1,346,195 | $595,210 |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 463 | 180 | 4,783 | 799 |
Reinvested | 21 | 4 | 255 | 184 |
Redeemed | (125) | (37) | (1,108) | (3,804) |
Change in Class A Shares | 359 | 147 | 3,930 | (2,821) |
Class C | ||||
Issued | 61 | 23 | 868 | 216 |
Reinvested | 3 | 1 | 22 | 11 |
Redeemed | (32) | (24) | (195) | (224) |
Change in Class C Shares | 32 | —(b) | 695 | 3 |
Class I | ||||
Issued | 1,929 | 1,006 | 19,213 | 11,291 |
Reinvested | 63 | 14 | 406 | 179 |
Redeemed | (1,046) | (595) | (9,783) | (1,602) |
Change in Class I Shares | 946 | 425 | 9,836 | 9,868 |
Class R2 | ||||
Issued | — | — | 41 | 19 |
Reinvested | — | — | 1 | 1 |
Redeemed | — | — | (14) | (13) |
Change in Class R2 Shares | — | — | 28 | 7 |
Class R3 | ||||
Issued | — | — | 152 | 16 |
Reinvested | — | — | 3 | —(b) |
Redeemed | — | — | (40) | (3) |
Change in Class R3 Shares | — | — | 115 | 13 |
Class R4 | ||||
Issued | — | — | 4 | 3 |
Redeemed | — | — | (2) | (25) |
Change in Class R4 Shares | — | — | 2 | (22) |
136 | J.P. Morgan Large Cap Funds | June 30, 2022 |
JPMorgan U.S. Sustainable Leaders Fund | JPMorgan U.S. Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R5 | ||||
Issued | — | — | 72 | 1 |
Reinvested | — | — | 1 | —(a) |
Redeemed | — | — | (8) | —(a) |
Change in Class R5 Shares | — | — | 65 | 1 |
Class R6 (b) | ||||
Issued | 578 | 451 | 5,559 | 5,348 |
Reinvested | 22 | 5 | 167 | 65 |
Redeemed | (104) | (35) | (1,004) | (596) |
Redemptions in-kind | — | — | — | (2,169) |
Change in Class R6 Shares | 496 | 421 | 4,722 | 2,648 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 137 |
FOR THE YEAR ENDED June 30, 2022
(Amounts in thousands)
JPMorgan U.S. Large Cap Core Plus Fund | |
INCREASE (DECREASE) IN CASH | |
Cash flows provided (used) by operating activities: | |
Net decrease in net assets resulting from operations | $(220,737) |
Adjustments to reconcile net increase/decrease in net assets resulting from operations to net cash provided (used) by operating activities: | |
Purchases of investment securities | (1,727,608) |
Proceeds from disposition of investment securities | 2,744,412 |
Covers of investment securities sold short | (938,816) |
Proceeds from investment securities sold short | 717,154 |
Purchases of short-term investments — affiliates, net | 4,899 |
Change in unrealized (appreciation)/depreciation on investments in non-affiliates | 856,556 |
Change in unrealized (appreciation)/depreciation on investment securities sold short | (109,819) |
Net realized (gain)/loss on investments in non-affiliates | (576,813) |
Net realized (gain)/loss on investments in affiliates | 2 |
Net realized (gain)/loss on securities sold short | 47,163 |
Decrease in dividends receivable from non-affiliates | 234 |
Decrease in dividend expense to non-affiliates on securities sold short | (72) |
Decrease in Interest expense to non-affiliates on securities sold short | (171) |
Decrease in due to broker for securities sold short | (13) |
Decrease in investment advisory fees payable | (482) |
Decrease in administration fees payable | (54) |
Decrease in distribution fees payable | (21) |
Decrease in service fees payable | (85) |
Decrease in custodian and accounting fees payable | (20) |
Decrease in other accrued expenses payable | (127) |
Net cash provided (used) by operating activities | 795,582 |
Cash flows provided (used) by financing activities: | |
Due to custodian | (21) |
Proceeds from shares issued | 343,266 |
Payment for shares redeemed | (1,082,379) |
Cash distributions paid to shareholders (net of reinvestments of $569,440) | (56,425) |
Net cash provided (used) by financing activities | (795,559) |
Cash | |
Net increase (decrease) in unrestricted and restricted cash, foreign currency and deposits at broker | 23 |
Restricted and unrestricted cash and foreign currency at beginning of period | 20 |
Restricted and unrestricted cash and foreign currency at end of year | $43 |
Supplemental disclosure of cash flow information:
June 30, 2021 | June 30, 2022 | |
Cash | $— | $37 |
Foreign currency, at value | 20 | 6 |
$20 | $43 |
138 | J.P. Morgan Large Cap Funds | June 30, 2022 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Equity Focus Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $35.03 | $— | $(2.70) | $(2.70) | $— | $(3.91) | $(3.91) |
Year Ended June 30, 2021 | 26.88 | 0.01 | 11.90 | 11.91 | (0.11) | (3.65) | (3.76) |
Year Ended June 30, 2020 | 30.15 | 0.15 | 1.68 | 1.83 | (0.12) | (4.98) | (5.10) |
Year Ended June 30, 2019 | 31.83 | 0.13 | 2.32 | 2.45 | (0.41) | (3.72) | (4.13) |
Year Ended June 30, 2018 | 29.09 | 0.08 | 4.23 | 4.31 | (0.01) | (1.56) | (1.57) |
Class C | |||||||
Year Ended June 30, 2022 | 33.15 | (0.16) | (2.51) | (2.67) | — | (3.91) | (3.91) |
Year Ended June 30, 2021 | 25.63 | (0.13) | 11.30 | 11.17 | — | (3.65) | (3.65) |
Year Ended June 30, 2020 | 29.01 | 0.01 | 1.60 | 1.61 | (0.01) | (4.98) | (4.99) |
Year Ended June 30, 2019 | 30.75 | (0.03) | 2.25 | 2.22 | (0.24) | (3.72) | (3.96) |
Year Ended June 30, 2018 | 28.28 | (0.08) | 4.11 | 4.03 | — | (1.56) | (1.56) |
Class I | |||||||
Year Ended June 30, 2022 | 35.80 | 0.08 | (2.78) | (2.70) | (0.03) | (3.91) | (3.94) |
Year Ended June 30, 2021 | 27.38 | 0.10 | 12.13 | 12.23 | (0.16) | (3.65) | (3.81) |
Year Ended June 30, 2020 | 30.60 | 0.23 | 1.70 | 1.93 | (0.17) | (4.98) | (5.15) |
Year Ended June 30, 2019 | 32.13 | 0.18 | 2.38 | 2.56 | (0.37) | (3.72) | (4.09) |
Year Ended June 30, 2018 | 29.34 | 0.16 | 4.27 | 4.43 | (0.08) | (1.56) | (1.64) |
Class R6 | |||||||
Year Ended June 30, 2022 | 35.62 | 0.16 | (2.75) | (2.59) | (0.11) | (3.91) | (4.02) |
Year Ended June 30, 2021 | 27.25 | 0.18 | 12.07 | 12.25 | (0.23) | (3.65) | (3.88) |
Year Ended June 30, 2020 | 30.48 | 0.30 | 1.69 | 1.99 | (0.24) | (4.98) | (5.22) |
October 1, 2018 (f) through June 30, 2019 | 34.55 | 0.23 | (0.05) | 0.18 | (0.53) | (3.72) | (4.25) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Commencement of offering of class of shares. |
140 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers | Portfolio turnover rate(c) |
$28.42 | (9.32)% | $17,340 | 1.10% | (0.01)% | 1.19% | 29% |
35.03 | 47.07 | 9,949 | 1.09 | 0.05 | 1.24 | 58 |
26.88 | 5.87 | 5,723 | 1.10 | 0.55 | 1.34 | 44 |
30.15 | 9.22 | 5,511 | 1.09 | 0.42 | 1.41 | 45 |
31.83 | 15.02 | 4,077 | 1.11 | 0.26 | 1.31 | 34 |
26.57 | (9.79) | 6,298 | 1.60 | (0.52) | 1.69 | 29 |
33.15 | 46.37 | 4,293 | 1.59 | (0.45) | 1.74 | 58 |
25.63 | 5.30 | 3,147 | 1.60 | 0.05 | 1.84 | 44 |
29.01 | 8.67 | 3,084 | 1.59 | (0.09) | 1.89 | 45 |
30.75 | 14.45 | 3,017 | 1.61 | (0.26) | 1.80 | 34 |
29.16 | (9.12) | 121,161 | 0.85 | 0.23 | 0.94 | 29 |
35.80 | 47.46 | 83,598 | 0.85 | 0.30 | 0.98 | 58 |
27.38 | 6.12 | 52,303 | 0.85 | 0.79 | 1.08 | 44 |
30.60 | 9.50 | 75,887 | 0.84 | 0.57 | 1.08 | 45 |
32.13 | 15.31 | 246,276 | 0.86 | 0.52 | 1.03 | 34 |
29.01 | (8.87) | 35,124 | 0.60 | 0.47 | 0.69 | 29 |
35.62 | 47.82 | 34,054 | 0.60 | 0.55 | 0.73 | 58 |
27.25 | 6.39 | 23,881 | 0.60 | 1.06 | 0.83 | 44 |
30.48 | 2.03 | 22,346 | 0.59 | 1.08 | 0.95 | 45 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 141 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Equity Income Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $22.34 | $0.34 | $(0.76) | $(0.42) | $(0.33) | $(0.44) | $(0.77) |
Year Ended June 30, 2021 | 16.22 | 0.29 | 6.12 | 6.41 | (0.29) | — | (0.29) |
Year Ended June 30, 2020 | 17.83 | 0.32 | (1.42) | (1.10) | (0.32) | (0.19) | (0.51) |
Year Ended June 30, 2019 | 16.82 | 0.32 | 1.48 | 1.80 | (0.33) | (0.46) | (0.79) |
Year Ended June 30, 2018 | 15.67 | 0.26 | 1.29 | 1.55 | (0.25) | (0.15) | (0.40) |
Class C | |||||||
Year Ended June 30, 2022 | 21.87 | 0.22 | (0.75) | (0.53) | (0.22) | (0.44) | (0.66) |
Year Ended June 30, 2021 | 15.88 | 0.19 | 6.00 | 6.19 | (0.20) | — | (0.20) |
Year Ended June 30, 2020 | 17.47 | 0.23 | (1.39) | (1.16) | (0.24) | (0.19) | (0.43) |
Year Ended June 30, 2019 | 16.50 | 0.23 | 1.46 | 1.69 | (0.26) | (0.46) | (0.72) |
Year Ended June 30, 2018 | 15.41 | 0.17 | 1.26 | 1.43 | (0.19) | (0.15) | (0.34) |
Class I | |||||||
Year Ended June 30, 2022 | 22.76 | 0.40 | (0.77) | (0.37) | (0.39) | (0.44) | (0.83) |
Year Ended June 30, 2021 | 16.52 | 0.35 | 6.23 | 6.58 | (0.34) | — | (0.34) |
Year Ended June 30, 2020 | 18.14 | 0.37 | (1.43) | (1.06) | (0.37) | (0.19) | (0.56) |
Year Ended June 30, 2019 | 17.10 | 0.37 | 1.51 | 1.88 | (0.38) | (0.46) | (0.84) |
Year Ended June 30, 2018 | 15.92 | 0.31 | 1.31 | 1.62 | (0.29) | (0.15) | (0.44) |
Class R2 | |||||||
Year Ended June 30, 2022 | 22.23 | 0.29 | (0.77) | (0.48) | (0.27) | (0.44) | (0.71) |
Year Ended June 30, 2021 | 16.14 | 0.23 | 6.10 | 6.33 | (0.24) | — | (0.24) |
Year Ended June 30, 2020 | 17.74 | 0.27 | (1.40) | (1.13) | (0.28) | (0.19) | (0.47) |
Year Ended June 30, 2019 | 16.74 | 0.28 | 1.47 | 1.75 | (0.29) | (0.46) | (0.75) |
Year Ended June 30, 2018 | 15.62 | 0.21 | 1.28 | 1.49 | (0.22) | (0.15) | (0.37) |
Class R3 | |||||||
Year Ended June 30, 2022 | 22.32 | 0.33 | (0.75) | (0.42) | (0.33) | (0.44) | (0.77) |
Year Ended June 30, 2021 | 16.21 | 0.29 | 6.11 | 6.40 | (0.29) | — | (0.29) |
Year Ended June 30, 2020 | 17.81 | 0.32 | (1.41) | (1.09) | (0.32) | (0.19) | (0.51) |
Year Ended June 30, 2019 | 16.80 | 0.32 | 1.49 | 1.81 | (0.34) | (0.46) | (0.80) |
Year Ended June 30, 2018 | 15.66 | 0.27 | 1.27 | 1.54 | (0.25) | (0.15) | (0.40) |
Class R4 | |||||||
Year Ended June 30, 2022 | 22.75 | 0.40 | (0.78) | (0.38) | (0.39) | (0.44) | (0.83) |
Year Ended June 30, 2021 | 16.51 | 0.35 | 6.23 | 6.58 | (0.34) | — | (0.34) |
Year Ended June 30, 2020 | 18.13 | 0.37 | (1.43) | (1.06) | (0.37) | (0.19) | (0.56) |
Year Ended June 30, 2019 | 17.09 | 0.36 | 1.52 | 1.88 | (0.38) | (0.46) | (0.84) |
Year Ended June 30, 2018 | 15.92 | 0.32 | 1.29 | 1.61 | (0.29) | (0.15) | (0.44) |
Class R5 | |||||||
Year Ended June 30, 2022 | 22.78 | 0.43 | (0.77) | (0.34) | (0.42) | (0.44) | (0.86) |
Year Ended June 30, 2021 | 16.53 | 0.37 | 6.25 | 6.62 | (0.37) | — | (0.37) |
Year Ended June 30, 2020 | 18.16 | 0.40 | (1.45) | (1.05) | (0.39) | (0.19) | (0.58) |
Year Ended June 30, 2019 | 17.11 | 0.40 | 1.51 | 1.91 | (0.40) | (0.46) | (0.86) |
Year Ended June 30, 2018 | 15.93 | 0.34 | 1.30 | 1.64 | (0.31) | (0.15) | (0.46) |
142 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers | Portfolio turnover rate |
$21.15 | (2.10)% | $4,562,270 | 0.95% | 1.49% | 0.95% | 15% |
22.34 | 39.81 | 4,715,916 | 0.96 | 1.48 | 0.96 | 16 |
16.22 | (6.36) | 3,234,850 | 0.98 | 1.83 | 0.98 | 22 |
17.83 | 11.17 | 3,277,249 | 0.99 | 1.90 | 1.00 | 23 |
16.82 | 9.94 | 3,022,879 | 1.00 | 1.55 | 1.01 | 20 |
20.68 | (2.63) | 1,206,824 | 1.45 | 0.97 | 1.45 | 15 |
21.87 | 39.19 | 1,493,408 | 1.45 | 0.99 | 1.46 | 16 |
15.88 | (6.83) | 1,350,402 | 1.47 | 1.34 | 1.47 | 22 |
17.47 | 10.66 | 1,434,793 | 1.48 | 1.39 | 1.49 | 23 |
16.50 | 9.35 | 1,303,731 | 1.50 | 1.05 | 1.50 | 20 |
21.56 | (1.87) | 17,614,254 | 0.70 | 1.74 | 0.70 | 15 |
22.76 | 40.16 | 17,980,353 | 0.70 | 1.73 | 0.71 | 16 |
16.52 | (6.06) | 10,727,252 | 0.71 | 2.11 | 0.72 | 22 |
18.14 | 11.45 | 9,013,293 | 0.73 | 2.12 | 0.74 | 23 |
17.10 | 10.22 | 6,320,979 | 0.74 | 1.81 | 0.75 | 20 |
21.04 | (2.36) | 102,353 | 1.21 | 1.28 | 1.21 | 15 |
22.23 | 39.47 | 77,859 | 1.22 | 1.22 | 1.22 | 16 |
16.14 | (6.57) | 72,182 | 1.23 | 1.56 | 1.23 | 22 |
17.74 | 10.90 | 93,453 | 1.24 | 1.64 | 1.25 | 23 |
16.74 | 9.59 | 80,330 | 1.26 | 1.29 | 1.26 | 20 |
21.13 | (2.10) | 232,772 | 0.95 | 1.47 | 0.95 | 15 |
22.32 | 39.79 | 280,991 | 0.95 | 1.49 | 0.96 | 16 |
16.21 | (6.29) | 170,246 | 0.97 | 1.86 | 0.97 | 22 |
17.81 | 11.20 | 137,142 | 0.98 | 1.87 | 0.99 | 23 |
16.80 | 9.90 | 91,267 | 0.99 | 1.61 | 0.99 | 20 |
21.54 | (1.91) | 211,963 | 0.70 | 1.73 | 0.70 | 15 |
22.75 | 40.19 | 249,525 | 0.70 | 1.73 | 0.70 | 16 |
16.51 | (6.07) | 106,277 | 0.72 | 2.12 | 0.72 | 22 |
18.13 | 11.46 | 66,602 | 0.73 | 2.08 | 0.74 | 23 |
17.09 | 10.18 | 23,451 | 0.74 | 1.90 | 0.75 | 20 |
21.58 | (1.72) | 1,300,595 | 0.55 | 1.87 | 0.55 | 15 |
22.78 | 40.41 | 1,655,531 | 0.55 | 1.88 | 0.56 | 16 |
16.53 | (5.98) | 1,230,147 | 0.56 | 2.24 | 0.57 | 22 |
18.16 | 11.67 | 1,422,483 | 0.58 | 2.29 | 0.59 | 23 |
17.11 | 10.38 | 1,097,476 | 0.59 | 1.98 | 0.60 | 20 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 143 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Equity Income Fund (continued) | |||||||
Class R6 | |||||||
Year Ended June 30, 2022 | $22.76 | $0.46 | $(0.77) | $(0.31) | $(0.45) | $(0.44) | $(0.89) |
Year Ended June 30, 2021 | 16.52 | 0.39 | 6.24 | 6.63 | (0.39) | — | (0.39) |
Year Ended June 30, 2020 | 18.14 | 0.42 | (1.44) | (1.02) | (0.41) | (0.19) | (0.60) |
Year Ended June 30, 2019 | 17.10 | 0.42 | 1.50 | 1.92 | (0.42) | (0.46) | (0.88) |
Year Ended June 30, 2018 | 15.92 | 0.35 | 1.31 | 1.66 | (0.33) | (0.15) | (0.48) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
144 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers | Portfolio turnover rate |
$21.56 | (1.62)% | $20,740,383 | 0.45% | 1.99% | 0.45% | 15% |
22.76 | 40.51 | 19,952,074 | 0.45 | 1.98 | 0.46 | 16 |
16.52 | (5.83) | 12,663,581 | 0.46 | 2.38 | 0.47 | 22 |
18.14 | 11.72 | 8,217,432 | 0.48 | 2.38 | 0.49 | 23 |
17.10 | 10.49 | 5,314,382 | 0.49 | 2.08 | 0.50 | 20 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 145 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Equity Index Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $65.24 | $0.65 | $(7.60) | $(6.95) | $(0.62) | $(0.93) | $(1.55) |
Year Ended June 30, 2021 | 47.11 | 0.62 | 18.24 | 18.86 | (0.73) | — | (0.73) |
Year Ended June 30, 2020 | 44.90 | 0.91 | 2.20 | 3.11 | (0.81) | (0.09) | (0.90) |
Year Ended June 30, 2019 | 41.64 | 0.72 | 3.33 | 4.05 | (0.65) | (0.14) | (0.79) |
Year Ended June 30, 2018 | 37.41 | 0.61 | 4.54 | 5.15 | (0.54) | (0.38) | (0.92) |
Class C | |||||||
Year Ended June 30, 2022 | 64.55 | 0.25 | (7.51) | (7.26) | (0.22) | (0.93) | (1.15) |
Year Ended June 30, 2021 | 46.65 | 0.28 | 18.00 | 18.28 | (0.38) | — | (0.38) |
Year Ended June 30, 2020 | 44.45 | 0.62 | 2.21 | 2.83 | (0.54) | (0.09) | (0.63) |
Year Ended June 30, 2019 | 41.27 | 0.46 | 3.30 | 3.76 | (0.44) | (0.14) | (0.58) |
Year Ended June 30, 2018 | 37.08 | 0.37 | 4.50 | 4.87 | (0.30) | (0.38) | (0.68) |
Class I | |||||||
Year Ended June 30, 2022 | 65.33 | 0.81 | (7.62) | (6.81) | (0.78) | (0.93) | (1.71) |
Year Ended June 30, 2021 | 47.22 | 0.77 | 18.21 | 18.98 | (0.87) | — | (0.87) |
Year Ended June 30, 2020 | 44.97 | 1.02 | 2.25 | 3.27 | (0.93) | (0.09) | (1.02) |
Year Ended June 30, 2019 | 41.68 | 0.83 | 3.34 | 4.17 | (0.74) | (0.14) | (0.88) |
Year Ended June 30, 2018 | 37.44 | 0.72 | 4.54 | 5.26 | (0.64) | (0.38) | (1.02) |
Class R6 | |||||||
Year Ended June 30, 2022 | 65.35 | 0.92 | (7.62) | (6.70) | (0.89) | (0.93) | (1.82) |
Year Ended June 30, 2021 | 47.21 | 0.85 | 18.25 | 19.10 | (0.96) | — | (0.96) |
Year Ended June 30, 2020 | 44.98 | 1.10 | 2.22 | 3.32 | (1.00) | (0.09) | (1.09) |
Year Ended June 30, 2019 | 41.68 | 0.90 | 3.33 | 4.23 | (0.79) | (0.14) | (0.93) |
Year Ended June 30, 2018 | 37.44 | 0.76 | 4.57 | 5.33 | (0.71) | (0.38) | (1.09) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(d) | Net expenses for Class R6 Shares are 0.045% for the year ended June 30, 2022, 0.044% for the year ended June 30, 2021, 0.044% for the year ended June 30, 2020, 0.043% for the year ended June 30, 2019 and 0.042% for the year ended June 30, 2018. |
146 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$56.74 | (11.02)% | $654,422 | 0.45% | 0.98% | 0.65% | 11% |
65.24 | 40.28 | 749,440 | 0.45 | 1.10 | 0.66 | 26 |
47.11 | 7.02 | 572,292 | 0.45 | 1.97 | 0.66 | 15 |
44.90 | 9.87 | 602,186 | 0.45 | 1.68 | 0.66 | 6 |
41.64 | 13.88 | 590,286 | 0.45 | 1.52 | 0.69 | 14 |
56.14 | (11.55) | 86,737 | 1.05 | 0.37 | 1.13 | 11 |
64.55 | 39.35 | 110,184 | 1.05 | 0.50 | 1.13 | 26 |
46.65 | 6.42 | 102,864 | 1.05 | 1.37 | 1.14 | 15 |
44.45 | 9.23 | 96,605 | 1.05 | 1.10 | 1.13 | 6 |
41.27 | 13.20 | 78,613 | 1.05 | 0.92 | 1.15 | 14 |
56.81 | (10.81) | 1,121,519 | 0.20 | 1.22 | 0.38 | 11 |
65.33 | 40.48 | 991,703 | 0.20 | 1.37 | 0.38 | 26 |
47.22 | 7.40 | 1,022,318 | 0.20 | 2.21 | 0.38 | 15 |
44.97 | 10.16 | 791,881 | 0.20 | 1.94 | 0.38 | 6 |
41.68 | 14.18 | 687,941 | 0.20 | 1.78 | 0.40 | 14 |
56.83 | (10.67) | 5,395,106 | 0.05(d) | 1.39 | 0.13 | 11 |
65.35 | 40.77 | 4,793,114 | 0.04(d) | 1.49 | 0.13 | 26 |
47.21 | 7.52 | 3,306,397 | 0.04(d) | 2.38 | 0.13 | 15 |
44.98 | 10.33 | 3,019,734 | 0.04(d) | 2.11 | 0.13 | 6 |
41.68 | 14.36 | 2,008,916 | 0.04(d) | 1.85 | 0.14 | 14 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 147 |
FOR THE PERIODS INDICATED
Per share operating performance | ||||||
Investment operations | Distributions | |||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net asset value, end of period | |
JPMorgan Equity Premium Income Fund | ||||||
Class A | ||||||
Year Ended June 30, 2022 | $15.23 | $1.46 | $(1.56) | $(0.10) | $(1.34) | $13.79 |
Year Ended June 30, 2021 | 12.96 | 1.26 | 2.40 | 3.66 | (1.39) | 15.23 |
Year Ended June 30, 2020 | 14.92 | 1.88 | (2.42) | (0.54) | (1.42) | 12.96 |
August 31, 2018 (f) through June 30, 2019 | 15.00 | 0.95 | (0.11) | 0.84 | (0.92) | 14.92 |
Class C | ||||||
Year Ended June 30, 2022 | 15.23 | 1.38 | (1.56) | (0.18) | (1.26) | 13.79 |
Year Ended June 30, 2021 | 12.96 | 1.15 | 2.44 | 3.59 | (1.32) | 15.23 |
Year Ended June 30, 2020 | 14.92 | 1.61 | (2.22) | (0.61) | (1.35) | 12.96 |
August 31, 2018 (f) through June 30, 2019 | 15.00 | 0.85 | (0.07) | 0.78 | (0.86) | 14.92 |
Class I | ||||||
Year Ended June 30, 2022 | 15.23 | 1.48 | (1.54) | (0.06) | (1.37) | 13.80 |
Year Ended June 30, 2021 | 12.96 | 1.38 | 2.32 | 3.70 | (1.43) | 15.23 |
Year Ended June 30, 2020 | 14.92 | 1.59 | (2.10) | (0.51) | (1.45) | 12.96 |
August 31, 2018 (f) through June 30, 2019 | 15.00 | 0.94 | (0.07) | 0.87 | (0.95) | 14.92 |
Class R5 | ||||||
Year Ended June 30, 2022 | 15.23 | 1.48 | (1.52) | (0.04) | (1.40) | 13.79 |
Year Ended June 30, 2021 | 12.96 | 1.37 | 2.35 | 3.72 | (1.45) | 15.23 |
Year Ended June 30, 2020 | 14.92 | 1.48 | (1.96) | (0.48) | (1.48) | 12.96 |
August 31, 2018 (f) through June 30, 2019 | 15.00 | 0.96 | (0.08) | 0.88 | (0.96) | 14.92 |
Class R6 | ||||||
Year Ended June 30, 2022 | 15.23 | 1.50 | (1.52) | (0.02) | (1.41) | 13.80 |
Year Ended June 30, 2021 | 12.96 | 1.43 | 2.30 | 3.73 | (1.46) | 15.23 |
Year Ended June 30, 2020 | 14.92 | 1.83 | (2.30) | (0.47) | (1.49) | 12.96 |
August 31, 2018 (f) through June 30, 2019 | 15.00 | 0.97 | (0.07) | 0.90 | (0.98) | 14.92 |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Commencement of operations. |
(g) | Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
148 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | |||||
Ratios to average net assets(a) | |||||
Total return (excludes sales charge) (c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers | Portfolio turnover rate(c) |
(1.05)% | $905,284 | 0.85% | 9.76% | 0.88% | 188% |
29.67 | 174,085 | 0.85 | 8.61 | 0.91 | 217 |
(3.78) | 12,904 | 0.85 | 14.21 | 1.11 | 236 |
5.95 | 125 | 0.85(g) | 7.90(g) | 1.80(g) | 43 |
(1.54) | 756,008 | 1.35 | 9.19 | 1.38 | 188 |
29.03 | 158,340 | 1.34 | 7.76 | 1.40 | 217 |
(4.26) | 4,710 | 1.35 | 11.77 | 1.61 | 236 |
5.50 | 21 | 1.35(g) | 7.14(g) | 2.26(g) | 43 |
(0.73) | 1,859,617 | 0.60 | 9.83 | 0.63 | 188 |
29.97 | 519,976 | 0.60 | 9.62 | 0.69 | 217 |
(3.57) | 173,409 | 0.60 | 11.40 | 0.91 | 236 |
6.15 | 54,045 | 0.60(g) | 7.89(g) | 1.13(g) | 43 |
(0.66) | 160 | 0.45 | 9.82 | 0.50 | 188 |
30.16 | 88 | 0.45 | 9.54 | 0.56 | 217 |
(3.43) | 21 | 0.45 | 10.37 | 0.83 | 236 |
6.28 | 21 | 0.45(g) | 8.04(g) | 1.36(g) | 43 |
(0.49) | 89,522 | 0.35 | 9.93 | 0.37 | 188 |
30.29 | 48,315 | 0.35 | 9.99 | 0.44 | 217 |
(3.33) | 686 | 0.35 | 13.60 | 0.59 | 236 |
6.37 | 21 | 0.35(g) | 8.14(g) | 1.26(g) | 43 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 149 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan Hedged Equity Fund | |||||
Class A | |||||
Year Ended June 30, 2022 | $25.90 | $0.13 | $(1.70) | $(1.57) | $(0.13) |
Year Ended June 30, 2021 | 21.83 | 0.15 | 4.11 | 4.26 | (0.19) |
Year Ended June 30, 2020 | 20.23 | 0.28 | 1.51 | 1.79 | (0.19) |
Year Ended June 30, 2019 | 19.43 | 0.20 | 0.79 | 0.99 | (0.19) |
Year Ended June 30, 2018 | 18.24 | 0.18 | 1.15 | 1.33 | (0.14) |
Class C | |||||
Year Ended June 30, 2022 | 25.72 | — | (1.68) | (1.68) | (0.02) |
Year Ended June 30, 2021 | 21.70 | 0.03 | 4.07 | 4.10 | (0.08) |
Year Ended June 30, 2020 | 20.10 | 0.17 | 1.52 | 1.69 | (0.09) |
Year Ended June 30, 2019 | 19.33 | 0.11 | 0.77 | 0.88 | (0.11) |
Year Ended June 30, 2018 | 18.16 | 0.08 | 1.15 | 1.23 | (0.06) |
Class I | |||||
Year Ended June 30, 2022 | 25.98 | 0.20 | (1.70) | (1.50) | (0.20) |
Year Ended June 30, 2021 | 21.90 | 0.21 | 4.11 | 4.32 | (0.24) |
Year Ended June 30, 2020 | 20.28 | 0.33 | 1.53 | 1.86 | (0.24) |
Year Ended June 30, 2019 | 19.47 | 0.26 | 0.78 | 1.04 | (0.23) |
Year Ended June 30, 2018 | 18.27 | 0.23 | 1.16 | 1.39 | (0.19) |
Class R5 | |||||
Year Ended June 30, 2022 | 26.02 | 0.24 | (1.70) | (1.46) | (0.24) |
Year Ended June 30, 2021 | 21.93 | 0.25 | 4.11 | 4.36 | (0.27) |
Year Ended June 30, 2020 | 20.32 | 0.36 | 1.52 | 1.88 | (0.27) |
Year Ended June 30, 2019 | 19.50 | 0.29 | 0.79 | 1.08 | (0.26) |
Year Ended June 30, 2018 | 18.30 | 0.26 | 1.16 | 1.42 | (0.22) |
Class R6 | |||||
Year Ended June 30, 2022 | 26.04 | 0.27 | (1.72) | (1.45) | (0.26) |
Year Ended June 30, 2021 | 21.95 | 0.28 | 4.11 | 4.39 | (0.30) |
Year Ended June 30, 2020 | 20.32 | 0.39 | 1.53 | 1.92 | (0.29) |
Year Ended June 30, 2019 | 19.49 | 0.31 | 0.79 | 1.10 | (0.27) |
Year Ended June 30, 2018 | 18.29 | 0.27 | 1.16 | 1.43 | (0.23) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
150 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers | Portfolio turnover rate |
$24.20 | (6.08)% | $1,647,387 | 0.83% | 0.52% | 0.83% | 44% |
25.90 | 19.58 | 1,778,457 | 0.83 | 0.61 | 0.84 | 39 |
21.83 | 8.89 | 473,314 | 0.85 | 1.35 | 0.86 | 68 |
20.23 | 5.12 | 296,242 | 0.85 | 1.02 | 0.87 | 48 |
19.43 | 7.33 | 277,898 | 0.84 | 0.92 | 0.87 | 44 |
24.02 | (6.53) | 436,891 | 1.33 | 0.02 | 1.33 | 44 |
25.72 | 18.93 | 502,120 | 1.33 | 0.14 | 1.33 | 39 |
21.70 | 8.40 | 246,741 | 1.35 | 0.84 | 1.36 | 68 |
20.10 | 4.60 | 158,602 | 1.35 | 0.55 | 1.37 | 48 |
19.33 | 6.79 | 81,030 | 1.34 | 0.42 | 1.38 | 44 |
24.28 | (5.83) | 12,790,417 | 0.58 | 0.77 | 0.58 | 44 |
25.98 | 19.83 | 14,416,679 | 0.58 | 0.89 | 0.58 | 39 |
21.90 | 9.21 | 7,167,488 | 0.59 | 1.59 | 0.60 | 68 |
20.28 | 5.39 | 4,214,453 | 0.60 | 1.30 | 0.61 | 48 |
19.47 | 7.63 | 1,947,444 | 0.59 | 1.17 | 0.62 | 44 |
24.32 | (5.68) | 5,335 | 0.43 | 0.92 | 0.43 | 44 |
26.02 | 20.01 | 6,024 | 0.44 | 1.03 | 0.45 | 39 |
21.93 | 9.30 | 2,964 | 0.45 | 1.74 | 0.59 | 68 |
20.32 | 5.57 | 1,893 | 0.45 | 1.46 | 0.95 | 48 |
19.50 | 7.81 | 123 | 0.39 | 1.37 | 0.67 | 44 |
24.33 | (5.61) | 1,614,304 | 0.33 | 1.02 | 0.33 | 44 |
26.04 | 20.11 | 1,591,643 | 0.33 | 1.14 | 0.34 | 39 |
21.95 | 9.50 | 851,085 | 0.35 | 1.87 | 0.35 | 68 |
20.32 | 5.69 | 384,616 | 0.35 | 1.56 | 0.37 | 48 |
19.49 | 7.87 | 121,897 | 0.34 | 1.42 | 0.42 | 44 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 151 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan Hedged Equity 2 Fund | |||||
Class A | |||||
Year Ended June 30, 2022 | $15.97 | $0.09 | $(1.12) | $(1.03) | $(0.07) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.03 | 0.95 | 0.98 | (0.01) |
Class C | |||||
Year Ended June 30, 2022 | 15.95 | 0.01 | (1.11) | (1.10) | (0.01) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | —(h) | 0.95 | 0.95 | —(h) |
Class I | |||||
Year Ended June 30, 2022 | 15.98 | 0.13 | (1.12) | (0.99) | (0.10) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.04 | 0.96 | 1.00 | (0.02) |
Class R5 | |||||
Year Ended June 30, 2022 | 15.98 | 0.15 | (1.12) | (0.97) | (0.12) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.05 | 0.95 | 1.00 | (0.02) |
Class R6 | |||||
Year Ended June 30, 2022 | 15.99 | 0.18 | (1.13) | (0.95) | (0.14) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.05 | 0.96 | 1.01 | (0.02) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes interest expense, if applicable, which is less than 0.005% unless otherwise noted. |
(f) | Commencement of operations. |
(g) | Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
(h) | Amount rounds to less than $0.005. |
152 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(c) |
$14.87 | (6.49)% | $295,220 | 0.85% | 0.57% | 0.88% | 39% |
15.97 | 6.54 | 52,880 | 0.85(g) | 0.57(g) | 0.92(g) | 6 |
14.84 | (6.90) | 241,375 | 1.35 | 0.07 | 1.38 | 39 |
15.95 | 6.36 | 57,423 | 1.35(g) | 0.05(g) | 1.43(g) | 6 |
14.89 | (6.22) | 4,110,283 | 0.60 | 0.81 | 0.62 | 39 |
15.98 | 6.63 | 1,018,781 | 0.60(g) | 0.80(g) | 0.70(g) | 6 |
14.89 | (6.10) | 636 | 0.45 | 0.92 | 0.47 | 39 |
15.98 | 6.66 | 536 | 0.45(g) | 0.99(g) | 0.88(g) | 6 |
14.90 | (6.01) | 975,953 | 0.35 | 1.12 | 0.38 | 39 |
15.99 | 6.75 | 262,248 | 0.35(g) | 1.04(g) | 0.43(g) | 6 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 153 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan Hedged Equity 3 Fund | |||||
Class A | |||||
Year Ended June 30, 2022 | $15.96 | $0.09 | $(1.65) | $(1.56) | $(0.06) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.03 | 0.95 | 0.98 | (0.02) |
Class C | |||||
Year Ended June 30, 2022 | 15.95 | 0.01 | (1.65) | (1.64) | (0.01) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | —(h) | 0.96 | 0.96 | (0.01) |
Class I | |||||
Year Ended June 30, 2022 | 15.98 | 0.13 | (1.65) | (1.52) | (0.10) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.04 | 0.96 | 1.00 | (0.02) |
Class R5 | |||||
Year Ended June 30, 2022 | 15.98 | 0.17 | (1.66) | (1.49) | (0.12) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.05 | 0.95 | 1.00 | (0.02) |
Class R6 | |||||
Year Ended June 30, 2022 | 15.98 | 0.17 | (1.65) | (1.48) | (0.13) |
February 26, 2021 (f) through June 30, 2021 | 15.00 | 0.06 | 0.94 | 1.00 | (0.02) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes interest expense, if applicable, which is less than 0.005% unless otherwise noted. |
(f) | Commencement of operations. |
(g) | Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
(h) | Amount rounds to less than $0.005. |
154 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(c) |
$14.34 | (9.78)% | $110,840 | 0.85% | 0.57% | 0.89% | 29% |
15.96 | 6.50 | 21,446 | 0.85(g) | 0.60(g) | 1.00 | 7 |
14.30 | (10.28) | 97,285 | 1.35 | 0.07 | 1.39 | 29 |
15.95 | 6.37 | 19,229 | 1.35(g) | 0.09(g) | 1.51 | 7 |
14.36 | (9.58) | 2,257,577 | 0.60 | 0.82 | 0.63 | 29 |
15.98 | 6.64 | 524,074 | 0.60(g) | 0.81(g) | 0.80 | 7 |
14.37 | (9.41) | 128 | 0.45 | 1.09 | 0.50 | 29 |
15.98 | 6.64 | 21 | 0.45(g) | 0.96(g) | 3.22 | 7 |
14.37 | (9.33) | 385,463 | 0.35 | 1.03 | 0.38 | 29 |
15.98 | 6.68 | 1,796 | 0.35(g) | 1.10(g) | 0.64 | 7 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 155 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Large Cap Growth Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $64.22 | $(0.12) | $(10.74) | $(10.86) | $— | $(9.24) | $(9.24) |
Year Ended June 30, 2021 | 48.04 | (0.27) | 19.59 | 19.32 | — | (3.14) | (3.14) |
Year Ended June 30, 2020 | 41.87 | (0.01) | 11.39 | 11.38 | — | (5.21) | (5.21) |
Year Ended June 30, 2019 | 42.44 | (0.09) | 4.80 | 4.71 | — | (5.28) | (5.28) |
Year Ended June 30, 2018 | 38.23 | (0.10) | 9.92 | 9.82 | — | (5.61) | (5.61) |
Class C | |||||||
Year Ended June 30, 2022 | 46.21 | (0.29) | (7.01) | (7.30) | — | (9.24) | (9.24) |
Year Ended June 30, 2021 | 35.43 | (0.41) | 14.33 | 13.92 | — | (3.14) | (3.14) |
Year Ended June 30, 2020 | 32.33 | (0.17) | 8.48 | 8.31 | — | (5.21) | (5.21) |
Year Ended June 30, 2019 | 34.20 | (0.23) | 3.64 | 3.41 | — | (5.28) | (5.28) |
Year Ended June 30, 2018 | 31.95 | (0.25) | 8.11 | 7.86 | — | (5.61) | (5.61) |
Class I | |||||||
Year Ended June 30, 2022 | 65.59 | 0.03 | (11.06) | (11.03) | — | (9.24) | (9.24) |
Year Ended June 30, 2021 | 48.91 | (0.12) | 19.97 | 19.85 | (0.03) | (3.14) | (3.17) |
Year Ended June 30, 2020 | 42.46 | 0.09 | 11.59 | 11.68 | (0.02) | (5.21) | (5.23) |
Year Ended June 30, 2019 | 42.86 | 0.01 | 4.87 | 4.88 | — | (5.28) | (5.28) |
Year Ended June 30, 2018 | 38.47 | (0.01) | 10.01 | 10.00 | — | (5.61) | (5.61) |
Class R2 | |||||||
Year Ended June 30, 2022 | 61.05 | (0.26) | (10.06) | (10.32) | — | (9.24) | (9.24) |
Year Ended June 30, 2021 | 45.90 | (0.39) | 18.68 | 18.29 | — | (3.14) | (3.14) |
Year Ended June 30, 2020 | 40.32 | (0.11) | 10.90 | 10.79 | — | (5.21) | (5.21) |
Year Ended June 30, 2019 | 41.17 | (0.18) | 4.61 | 4.43 | — | (5.28) | (5.28) |
Year Ended June 30, 2018 | 37.33 | (0.20) | 9.65 | 9.45 | — | (5.61) | (5.61) |
Class R3 | |||||||
Year Ended June 30, 2022 | 64.64 | (0.12) | (10.83) | (10.95) | — | (9.24) | (9.24) |
Year Ended June 30, 2021 | 48.34 | (0.27) | 19.72 | 19.45 | (0.01) | (3.14) | (3.15) |
Year Ended June 30, 2020 | 42.10 | (0.01) | 11.46 | 11.45 | — | (5.21) | (5.21) |
Year Ended June 30, 2019 | 42.64 | (0.08) | 4.82 | 4.74 | — | (5.28) | (5.28) |
Year Ended June 30, 2018 | 38.39 | (0.08) | 9.94 | 9.86 | — | (5.61) | (5.61) |
Class R4 | |||||||
Year Ended June 30, 2022 | 65.47 | 0.02 | (11.02) | (11.00) | — | (9.24) | (9.24) |
Year Ended June 30, 2021 | 48.84 | (0.12) | 19.94 | 19.82 | (0.05) | (3.14) | (3.19) |
Year Ended June 30, 2020 | 42.45 | 0.08 | 11.58 | 11.66 | (0.06) | (5.21) | (5.27) |
Year Ended June 30, 2019 | 42.85 | 0.01 | 4.87 | 4.88 | — | (5.28) | (5.28) |
Year Ended June 30, 2018 | 38.47 | 0.01 | 9.98 | 9.99 | — | (5.61) | (5.61) |
Class R5 | |||||||
Year Ended June 30, 2022 | 67.49 | 0.12 | (11.46) | (11.34) | — | (9.24) | (9.24) |
Year Ended June 30, 2021 | 50.20 | (0.04) | 20.52 | 20.48 | (0.05) | (3.14) | (3.19) |
Year Ended June 30, 2020 | 43.44 | 0.16 | 11.88 | 12.04 | (0.07) | (5.21) | (5.28) |
Year Ended June 30, 2019 | 43.65 | 0.07 | 5.00 | 5.07 | — | (5.28) | (5.28) |
Year Ended June 30, 2018 | 39.04 | 0.06 | 10.16 | 10.22 | — | (5.61) | (5.61) |
156 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$44.12 | (20.68)% | $3,734,120 | 0.94% | (0.20)% | 1.01% | 50% |
64.22 | 41.00 | 4,970,767 | 0.93 | (0.46) | 1.02 | 58 |
48.04 | 30.09 | 3,280,463 | 0.94 | (0.03) | 1.04 | 47 |
41.87 | 13.67 | 2,466,910 | 0.93 | (0.23) | 1.10 | 50 |
42.44 | 28.45 | 2,481,816 | 0.97 | (0.25) | 1.11 | 24 |
29.67 | (21.07) | 556,002 | 1.44 | (0.71) | 1.51 | 50 |
46.21 | 40.32 | 780,132 | 1.43 | (0.96) | 1.51 | 58 |
35.43 | 29.42 | 701,820 | 1.44 | (0.53) | 1.54 | 47 |
32.33 | 13.11 | 518,116 | 1.43 | (0.73) | 1.59 | 50 |
34.20 | 27.83 | 534,199 | 1.47 | (0.75) | 1.60 | 24 |
45.32 | (20.49) | 9,509,669 | 0.69 | 0.05 | 0.76 | 50 |
65.59 | 41.37 | 10,983,173 | 0.68 | (0.21) | 0.76 | 58 |
48.91 | 30.40 | 7,058,308 | 0.69 | 0.22 | 0.78 | 47 |
42.46 | 13.95 | 4,691,515 | 0.68 | 0.02 | 0.84 | 50 |
42.86 | 28.77 | 4,413,908 | 0.74 | (0.03) | 0.85 | 24 |
41.49 | (20.88) | 90,916 | 1.19 | (0.46) | 1.26 | 50 |
61.05 | 40.65 | 129,541 | 1.18 | (0.71) | 1.26 | 58 |
45.90 | 29.76 | 118,628 | 1.19 | (0.27) | 1.29 | 47 |
40.32 | 13.39 | 138,030 | 1.18 | (0.47) | 1.34 | 50 |
41.17 | 28.11 | 156,775 | 1.24 | (0.52) | 1.35 | 24 |
44.45 | (20.68) | 205,831 | 0.94 | (0.21) | 1.01 | 50 |
64.64 | 41.01 | 264,318 | 0.93 | (0.45) | 1.01 | 58 |
48.34 | 30.09 | 90,107 | 0.94 | (0.02) | 1.03 | 47 |
42.10 | 13.68 | 45,376 | 0.93 | (0.21) | 1.08 | 50 |
42.64 | 28.43 | 6,865 | 0.96 | (0.21) | 1.10 | 24 |
45.23 | (20.48) | 137,633 | 0.69 | 0.03 | 0.76 | 50 |
65.47 | 41.37 | 204,814 | 0.68 | (0.20) | 0.76 | 58 |
48.84 | 30.40 | 64,792 | 0.69 | 0.19 | 0.78 | 47 |
42.45 | 13.96 | 10,740 | 0.68 | 0.02 | 0.83 | 50 |
42.85 | 28.74 | 5,930 | 0.73 | 0.02 | 0.85 | 24 |
46.91 | (20.37) | 629,918 | 0.54 | 0.19 | 0.61 | 50 |
67.49 | 41.57 | 956,386 | 0.53 | (0.06) | 0.61 | 58 |
50.20 | 30.59 | 781,380 | 0.54 | 0.38 | 0.63 | 47 |
43.44 | 14.15 | 702,536 | 0.53 | 0.17 | 0.69 | 50 |
43.65 | 28.93 | 788,766 | 0.59 | 0.14 | 0.70 | 24 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 157 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Large Cap Growth Fund (continued) | |||||||
Class R6 | |||||||
Year Ended June 30, 2022 | $68.18 | $0.19 | $(11.62) | $(11.43) | $— | $(9.24) | $(9.24) |
Year Ended June 30, 2021 | 50.66 | 0.03 | 20.71 | 20.74 | (0.08) | (3.14) | (3.22) |
Year Ended June 30, 2020 | 43.78 | 0.21 | 11.99 | 12.20 | (0.11) | (5.21) | (5.32) |
Year Ended June 30, 2019 | 43.95 | 0.11 | 5.03 | 5.14 | (0.03) | (5.28) | (5.31) |
Year Ended June 30, 2018 | 39.23 | 0.10 | 10.23 | 10.33 | — | (5.61) | (5.61) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes interest expense, if applicable, which is less than 0.005% unless otherwise noted. |
158 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$47.51 | (20.29)% | $16,482,609 | 0.44% | 0.30% | 0.51% | 50% |
68.18 | 41.70 | 19,127,249 | 0.43 | 0.04 | 0.51 | 58 |
50.66 | 30.75 | 11,169,668 | 0.44 | 0.47 | 0.53 | 47 |
43.78 | 14.23 | 7,339,387 | 0.43 | 0.27 | 0.58 | 50 |
43.95 | 29.08 | 5,962,328 | 0.48 | 0.24 | 0.60 | 24 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 159 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Large Cap Value Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $20.48 | $0.19 | $(1.21) | $(1.02) | $(0.18) | $(1.38) | $(1.56) |
Year Ended June 30, 2021 | 12.72 | 0.11 | 7.73 | 7.84 | (0.08) | — | (0.08) |
Year Ended June 30, 2020 | 14.11 | 0.18 | (1.40) | (1.22) | (0.17) | — | (0.17) |
Year Ended June 30, 2019 | 15.11 | 0.17 | (0.09) | 0.08 | (0.17) | (0.91) | (1.08) |
Year Ended June 30, 2018 | 15.48 | 0.15 | 0.89 | 1.04 | (0.13) | (1.28) | (1.41) |
Class C | |||||||
Year Ended June 30, 2022 | 19.55 | 0.09 | (1.16) | (1.07) | (0.09) | (1.38) | (1.47) |
Year Ended June 30, 2021 | 12.17 | 0.02 | 7.39 | 7.41 | (0.03) | — | (0.03) |
Year Ended June 30, 2020 | 13.49 | 0.11 | (1.32) | (1.21) | (0.11) | — | (0.11) |
Year Ended June 30, 2019 | 14.51 | 0.10 | (0.10) | —(f) | (0.11) | (0.91) | (1.02) |
Year Ended June 30, 2018 | 14.93 | 0.06 | 0.86 | 0.92 | (0.06) | (1.28) | (1.34) |
Class I | |||||||
Year Ended June 30, 2022 | 20.10 | 0.23 | (1.19) | (0.96) | (0.23) | (1.38) | (1.61) |
Year Ended June 30, 2021 | 12.49 | 0.15 | 7.59 | 7.74 | (0.13) | — | (0.13) |
Year Ended June 30, 2020 | 13.85 | 0.21 | (1.36) | (1.15) | (0.21) | — | (0.21) |
Year Ended June 30, 2019 | 14.85 | 0.20 | (0.09) | 0.11 | (0.20) | (0.91) | (1.11) |
Year Ended June 30, 2018 | 15.24 | 0.18 | 0.87 | 1.05 | (0.16) | (1.28) | (1.44) |
Class R2 | |||||||
Year Ended June 30, 2022 | 20.30 | 0.14 | (1.21) | (1.07) | (0.13) | (1.38) | (1.51) |
Year Ended June 30, 2021 | 12.61 | 0.06 | 7.67 | 7.73 | (0.04) | — | (0.04) |
Year Ended June 30, 2020 | 13.98 | 0.15 | (1.38) | (1.23) | (0.14) | — | (0.14) |
Year Ended June 30, 2019 | 14.99 | 0.14 | (0.10) | 0.04 | (0.14) | (0.91) | (1.05) |
Year Ended June 30, 2018 | 15.39 | 0.11 | 0.86 | 0.97 | (0.09) | (1.28) | (1.37) |
Class R3 | |||||||
Year Ended June 30, 2022 | 20.09 | 0.20 | (1.21) | (1.01) | (0.21) | (1.38) | (1.59) |
Year Ended June 30, 2021 | 12.48 | 0.10 | 7.59 | 7.69 | (0.08) | — | (0.08) |
Year Ended June 30, 2020 | 13.84 | 0.18 | (1.36) | (1.18) | (0.18) | — | (0.18) |
October 1, 2018 (g) through June 30, 2019 | 15.63 | 0.13 | (0.88) | (0.75) | (0.13) | (0.91) | (1.04) |
Class R4 | |||||||
Year Ended June 30, 2022 | 20.50 | 0.26 | (1.23) | (0.97) | (0.23) | (1.38) | (1.61) |
Year Ended June 30, 2021 | 12.73 | 0.12 | 7.77 | 7.89 | (0.12) | — | (0.12) |
Year Ended June 30, 2020 | 14.11 | 0.22 | (1.39) | (1.17) | (0.21) | — | (0.21) |
October 1, 2018 (g) through June 30, 2019 | 15.90 | 0.16 | (0.89) | (0.73) | (0.15) | (0.91) | (1.06) |
Class R5 | |||||||
Year Ended June 30, 2022 | 20.32 | 0.26 | (1.20) | (0.94) | (0.25) | (1.38) | (1.63) |
Year Ended June 30, 2021 | 12.62 | 0.17 | 7.68 | 7.85 | (0.15) | — | (0.15) |
Year Ended June 30, 2020 | 14.00 | 0.24 | (1.39) | (1.15) | (0.23) | — | (0.23) |
Year Ended June 30, 2019 | 14.99 | 0.23 | (0.09) | 0.14 | (0.22) | (0.91) | (1.13) |
Year Ended June 30, 2018 | 15.37 | 0.21 | 0.88 | 1.09 | (0.19) | (1.28) | (1.47) |
160 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$17.90 | (5.22)% | $235,054 | 0.93% | 0.97% | 1.01% | 121% |
20.48 | 61.86 | 218,302 | 0.93 | 0.62 | 1.04 | 93 |
12.72 | (8.66) | 119,402 | 0.93 | 1.33 | 1.04 | 177 |
14.11 | 1.07 | 153,809 | 0.93 | 1.19 | 1.04 | 162 |
15.11 | 6.52 | 236,470 | 0.93 | 0.92 | 1.04 | 130 |
17.01 | (5.70) | 79,663 | 1.44 | 0.48 | 1.51 | 121 |
19.55 | 60.96 | 62,488 | 1.43 | 0.11 | 1.50 | 93 |
12.17 | (9.04) | 33,769 | 1.44 | 0.81 | 1.52 | 177 |
13.49 | 0.57 | 55,009 | 1.44 | 0.70 | 1.52 | 162 |
14.51 | 5.94 | 69,445 | 1.44 | 0.42 | 1.52 | 130 |
17.53 | (5.04) | 1,275,387 | 0.69 | 1.20 | 0.77 | 121 |
20.10 | 62.22 | 1,418,653 | 0.69 | 0.84 | 0.76 | 93 |
12.49 | (8.35) | 262,414 | 0.69 | 1.57 | 0.76 | 177 |
13.85 | 1.31 | 301,663 | 0.69 | 1.44 | 0.77 | 162 |
14.85 | 6.74 | 378,058 | 0.70 | 1.19 | 0.77 | 130 |
17.72 | (5.50) | 12,323 | 1.19 | 0.71 | 1.27 | 121 |
20.30 | 61.40 | 11,175 | 1.18 | 0.38 | 1.27 | 93 |
12.61 | (8.83) | 17,777 | 1.19 | 1.09 | 1.28 | 177 |
13.98 | 0.83 | 21,489 | 1.19 | 0.97 | 1.29 | 162 |
14.99 | 6.14 | 17,046 | 1.21 | 0.68 | 1.30 | 130 |
17.49 | (5.26) | 6,010 | 0.94 | 1.06 | 1.01 | 121 |
20.09 | 61.83 | 16 | 0.94 | 0.63 | 1.04 | 93 |
12.48 | (8.59) | 18 | 0.94 | 1.36 | 2.24 | 177 |
13.84 | (4.25) | 19 | 0.94 | 1.28 | 1.17 | 162 |
17.92 | (4.95) | 495 | 0.69 | 1.32 | 0.77 | 121 |
20.50 | 62.16 | 135 | 0.69 | 0.87 | 0.76 | 93 |
12.73 | (8.34) | 11,823 | 0.69 | 1.60 | 0.76 | 177 |
14.11 | (4.05) | 14,545 | 0.68 | 1.51 | 0.77 | 162 |
17.75 | (4.84) | 23,073 | 0.54 | 1.34 | 0.61 | 121 |
20.32 | 62.47 | 24,668 | 0.54 | 1.02 | 0.61 | 93 |
12.62 | (8.26) | 18,535 | 0.54 | 1.72 | 0.62 | 177 |
14.00 | 1.50 | 30,522 | 0.54 | 1.61 | 0.63 | 162 |
14.99 | 6.90 | 23,166 | 0.55 | 1.33 | 0.63 | 130 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 161 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Large Cap Value Fund (continued) | |||||||
Class R6 | |||||||
Year Ended June 30, 2022 | $20.18 | $0.28 | $(1.20) | $(0.92) | $(0.27) | $(1.38) | $(1.65) |
Year Ended June 30, 2021 | 12.53 | 0.19 | 7.63 | 7.82 | (0.17) | — | (0.17) |
Year Ended June 30, 2020 | 13.90 | 0.25 | (1.37) | (1.12) | (0.25) | — | (0.25) |
Year Ended June 30, 2019 | 14.90 | 0.24 | (0.10) | 0.14 | (0.23) | (0.91) | (1.14) |
Year Ended June 30, 2018 | 15.28 | 0.22 | 0.88 | 1.10 | (0.20) | (1.28) | (1.48) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Amount rounds to less than $0.005. |
(g) | Commencement of offering of class of shares. |
162 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$17.61 | (4.78)% | $1,564,013 | 0.44% | 1.42% | 0.50% | 121% |
20.18 | 62.68 | 2,606,033 | 0.44 | 1.10 | 0.50 | 93 |
12.53 | (8.14) | 796,259 | 0.44 | 1.86 | 0.51 | 177 |
13.90 | 1.52 | 834,072 | 0.44 | 1.70 | 0.52 | 162 |
14.90 | 7.04 | 928,167 | 0.46 | 1.41 | 0.52 | 130 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 163 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $36.38 | $0.45 | $(1.10) | $(0.65) | $(0.42) | $(8.75) | $(9.17) |
Year Ended June 30, 2021 | 25.83 | 0.42 | 11.10 | 11.52 | (0.64) | (0.33) | (0.97) |
Year Ended June 30, 2020 | 31.42 | 0.55(d) | (3.38) | (2.83) | (0.63) | (2.13) | (2.76) |
Year Ended June 30, 2019 | 34.53 | 0.49 | 0.55 | 1.04 | (0.51) | (3.64) | (4.15) |
Year Ended June 30, 2018 | 35.54 | 0.53 | 4.10 | 4.63 | (0.55) | (5.09) | (5.64) |
Class C | |||||||
Year Ended June 30, 2022 | 35.72 | 0.27 | (1.04) | (0.77) | (0.27) | (8.75) | (9.02) |
Year Ended June 30, 2021 | 25.36 | 0.28 | 10.90 | 11.18 | (0.49) | (0.33) | (0.82) |
Year Ended June 30, 2020 | 30.90 | 0.40(d) | (3.33) | (2.93) | (0.48) | (2.13) | (2.61) |
Year Ended June 30, 2019 | 34.06 | 0.32 | 0.54 | 0.86 | (0.38) | (3.64) | (4.02) |
Year Ended June 30, 2018 | 35.14 | 0.35 | 4.05 | 4.40 | (0.39) | (5.09) | (5.48) |
Class I | |||||||
Year Ended June 30, 2022 | 36.72 | 0.53 | (1.11) | (0.58) | (0.50) | (8.75) | (9.25) |
Year Ended June 30, 2021 | 25.79 | 0.50 | 11.48 | 11.98 | (0.72) | (0.33) | (1.05) |
Year Ended June 30, 2020 | 31.62 | 0.62(d) | (3.66) | (3.04) | (0.66) | (2.13) | (2.79) |
Year Ended June 30, 2019 | 34.71 | 0.57 | 0.55 | 1.12 | (0.57) | (3.64) | (4.21) |
Year Ended June 30, 2018 | 35.69 | 0.62 | 4.11 | 4.73 | (0.62) | (5.09) | (5.71) |
Class R2 | |||||||
Year Ended June 30, 2022 | 35.99 | 0.33 | (1.07) | (0.74) | (0.32) | (8.75) | (9.07) |
Year Ended June 30, 2021 | 25.55 | 0.33 | 11.01 | 11.34 | (0.57) | (0.33) | (0.90) |
Year Ended June 30, 2020 | 31.12 | 0.47(d) | (3.35) | (2.88) | (0.56) | (2.13) | (2.69) |
Year Ended June 30, 2019 | 34.26 | 0.40 | 0.54 | 0.94 | (0.44) | (3.64) | (4.08) |
Year Ended June 30, 2018 | 35.33 | 0.46 | 4.03 | 4.49 | (0.47) | (5.09) | (5.56) |
Class R5 | |||||||
Year Ended June 30, 2022 | 36.78 | 0.55 | (1.11) | (0.56) | (0.52) | (8.75) | (9.27) |
Year Ended June 30, 2021 | 25.66 | 0.59 | 11.63 | 12.22 | (0.77) | (0.33) | (1.10) |
Year Ended June 30, 2020 | 31.73 | 0.67(d) | (3.87) | (3.20) | (0.74) | (2.13) | (2.87) |
Year Ended June 30, 2019 | 34.80 | 0.62 | 0.56 | 1.18 | (0.61) | (3.64) | (4.25) |
Year Ended June 30, 2018 | 35.78 | 0.66 | 4.13 | 4.79 | (0.68) | (5.09) | (5.77) |
Class R6 | |||||||
Year Ended June 30, 2022 | 36.78 | 0.58 | (1.11) | (0.53) | (0.55) | (8.75) | (9.30) |
Year Ended June 30, 2021 | 26.06 | 0.57 | 11.28 | 11.85 | (0.80) | (0.33) | (1.13) |
Year Ended June 30, 2020 | 31.74 | 0.70(d) | (3.47) | (2.77) | (0.78) | (2.13) | (2.91) |
Year Ended June 30, 2019 | 34.80 | 0.65 | 0.57 | 1.22 | (0.64) | (3.64) | (4.28) |
Year Ended June 30, 2018 | 35.78 | 0.69 | 4.13 | 4.82 | (0.71) | (5.09) | (5.80) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(d) | Reflects special dividends paid out during the year by several of the Fund’s holdings. Had the Fund not received the special dividends, the net investment income (loss) per share would have been $0.46, $0.30, $0.53, $0.38, $0.57 and $0.60 for Class A, Class C, Class I, Class R2, Class R5 and Class R6 Shares, respectively, and the net investment income (loss) ratio would have been 1.56%, 1.05%, 1.70%, 1.30%, 1.85% and 2.04% for Class A, Class C, Class I, Class R2, Class R5 and Class R6 Shares, respectively. |
164 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$26.56 | (4.07)% | $49,916 | 0.73% | 1.37% | 0.97% | 55% |
36.38 | 45.65 | 61,187 | 0.83 | 1.37 | 0.99 | 72 |
25.83 | (9.96) | 49,876 | 0.83 | 1.88(d) | 0.95 | 79 |
31.42 | 4.08 | 72,888 | 0.82 | 1.49 | 1.01 | 88 |
34.53 | 13.39 | 86,400 | 0.83 | 1.48 | 1.02 | 68 |
25.93 | (4.54) | 7,147 | 1.23 | 0.85 | 1.48 | 55 |
35.72 | 45.02 | 11,211 | 1.33 | 0.91 | 1.50 | 72 |
25.36 | (10.46) | 11,038 | 1.33 | 1.37(d) | 1.46 | 79 |
30.90 | 3.57 | 19,139 | 1.32 | 0.99 | 1.52 | 88 |
34.06 | 12.84 | 23,686 | 1.33 | 1.00 | 1.53 | 68 |
26.89 | (3.84) | 94,291 | 0.49 | 1.60 | 0.72 | 55 |
36.72 | 47.54 | 127,530 | 0.59 | 1.62 | 0.74 | 72 |
25.79 | (10.69) | 113,316 | 0.59 | 2.01(d) | 0.68 | 79 |
31.62 | 4.33 | 698,989 | 0.58 | 1.74 | 0.76 | 88 |
34.71 | 13.65 | 772,556 | 0.62 | 1.71 | 0.76 | 68 |
26.18 | (4.41) | 2,651 | 1.09 | 1.02 | 1.36 | 55 |
35.99 | 45.36 | 3,000 | 1.09 | 1.08 | 1.34 | 72 |
25.55 | (10.24) | 2,664 | 1.09 | 1.62(d) | 1.30 | 79 |
31.12 | 3.81 | 4,438 | 1.08 | 1.22 | 1.62 | 88 |
34.26 | 13.04 | 5,781 | 1.12 | 1.28 | 1.52 | 68 |
26.95 | (3.79) | 3,610 | 0.44 | 1.66 | 0.57 | 55 |
36.78 | 48.74 | 4,053 | 0.44 | 1.91 | 0.59 | 72 |
25.66 | (11.16) | 4,269 | 0.44 | 2.16(d) | 0.55 | 79 |
31.73 | 4.50 | 48,910 | 0.43 | 1.89 | 0.61 | 88 |
34.80 | 13.80 | 90,714 | 0.45 | 1.82 | 0.62 | 68 |
26.95 | (3.70) | 38,883 | 0.34 | 1.78 | 0.47 | 55 |
36.78 | 46.60 | 69,298 | 0.34 | 1.82 | 0.49 | 72 |
26.06 | (9.68) | 74,603 | 0.34 | 2.37(d) | 0.44 | 79 |
31.74 | 4.63 | 133,014 | 0.33 | 1.99 | 0.51 | 88 |
34.80 | 13.90 | 118,726 | 0.37 | 1.90 | 0.52 | 68 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 165 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. Equity Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $21.51 | $0.08 | $(1.81) | $(1.73) | $(0.07) | $(2.23) | $(2.30) |
Year Ended June 30, 2021 | 16.22 | 0.09 | 6.39 | 6.48 | (0.08) | (1.11) | (1.19) |
Year Ended June 30, 2020 | 15.86 | 0.11 | 1.82 | 1.93 | (0.11) | (1.46) | (1.57) |
Year Ended June 30, 2019 | 16.48 | 0.12 | 1.17 | 1.29 | (0.12) | (1.79) | (1.91) |
Year Ended June 30, 2018 | 15.80 | 0.11 | 1.94 | 2.05 | (0.11) | (1.26) | (1.37) |
Class C | |||||||
Year Ended June 30, 2022 | 20.61 | (0.03) | (1.69) | (1.72) | (0.01) | (2.23) | (2.24) |
Year Ended June 30, 2021 | 15.60 | (0.01) | 6.14 | 6.13 | (0.01) | (1.11) | (1.12) |
Year Ended June 30, 2020 | 15.31 | 0.03 | 1.75 | 1.78 | (0.03) | (1.46) | (1.49) |
Year Ended June 30, 2019 | 15.99 | 0.04 | 1.13 | 1.17 | (0.06) | (1.79) | (1.85) |
Year Ended June 30, 2018 | 15.37 | 0.03 | 1.89 | 1.92 | (0.04) | (1.26) | (1.30) |
Class I | |||||||
Year Ended June 30, 2022 | 21.59 | 0.13 | (1.81) | (1.68) | (0.12) | (2.23) | (2.35) |
Year Ended June 30, 2021 | 16.27 | 0.13 | 6.43 | 6.56 | (0.13) | (1.11) | (1.24) |
Year Ended June 30, 2020 | 15.91 | 0.15 | 1.82 | 1.97 | (0.15) | (1.46) | (1.61) |
Year Ended June 30, 2019 | 16.51 | 0.16 | 1.18 | 1.34 | (0.15) | (1.79) | (1.94) |
Year Ended June 30, 2018 | 15.83 | 0.15 | 1.94 | 2.09 | (0.15) | (1.26) | (1.41) |
Class L | |||||||
Year Ended June 30, 2022 | 21.63 | 0.16 | (1.81) | (1.65) | (0.15) | (2.23) | (2.38) |
Year Ended June 30, 2021 | 16.30 | 0.16 | 6.44 | 6.60 | (0.16) | (1.11) | (1.27) |
Year Ended June 30, 2020 | 15.93 | 0.17 | 1.83 | 2.00 | (0.17) | (1.46) | (1.63) |
Year Ended June 30, 2019 | 16.53 | 0.18 | 1.18 | 1.36 | (0.17) | (1.79) | (1.96) |
Year Ended June 30, 2018 | 15.85 | 0.17 | 1.94 | 2.11 | (0.17) | (1.26) | (1.43) |
Class R2 | |||||||
Year Ended June 30, 2022 | 21.26 | 0.02 | (1.78) | (1.76) | (0.02) | (2.23) | (2.25) |
Year Ended June 30, 2021 | 16.04 | 0.04 | 6.33 | 6.37 | (0.04) | (1.11) | (1.15) |
Year Ended June 30, 2020 | 15.70 | 0.07 | 1.80 | 1.87 | (0.07) | (1.46) | (1.53) |
Year Ended June 30, 2019 | 16.34 | 0.08 | 1.16 | 1.24 | (0.09) | (1.79) | (1.88) |
Year Ended June 30, 2018 | 15.68 | 0.07 | 1.92 | 1.99 | (0.07) | (1.26) | (1.33) |
Class R3 | |||||||
Year Ended June 30, 2022 | 21.42 | 0.08 | (1.80) | (1.72) | (0.07) | (2.23) | (2.30) |
Year Ended June 30, 2021 | 16.15 | 0.09 | 6.38 | 6.47 | (0.09) | (1.11) | (1.20) |
Year Ended June 30, 2020 | 15.80 | 0.11 | 1.81 | 1.92 | (0.11) | (1.46) | (1.57) |
Year Ended June 30, 2019 | 16.43 | 0.12 | 1.16 | 1.28 | (0.12) | (1.79) | (1.91) |
Year Ended June 30, 2018 | 15.76 | 0.11 | 1.93 | 2.04 | (0.11) | (1.26) | (1.37) |
Class R4 | |||||||
Year Ended June 30, 2022 | 21.55 | 0.13 | (1.81) | (1.68) | (0.12) | (2.23) | (2.35) |
Year Ended June 30, 2021 | 16.25 | 0.13 | 6.41 | 6.54 | (0.13) | (1.11) | (1.24) |
Year Ended June 30, 2020 | 15.89 | 0.15 | 1.82 | 1.97 | (0.15) | (1.46) | (1.61) |
Year Ended June 30, 2019 | 16.50 | 0.17 | 1.16 | 1.33 | (0.15) | (1.79) | (1.94) |
Year Ended June 30, 2018 | 15.82 | 0.16 | 1.93 | 2.09 | (0.15) | (1.26) | (1.41) |
166 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$17.48 | (10.04)% | $1,577,771 | 0.94% | 0.37% | 0.98% | 53% |
21.51 | 41.18 | 1,642,046 | 0.94 | 0.46 | 0.98 | 60 |
16.22 | 12.59 | 1,869,111 | 0.94 | 0.70 | 0.99 | 84 |
15.86 | 9.18 | 1,556,392 | 0.94 | 0.76 | 0.99 | 91 |
16.48 | 13.20 | 1,340,858 | 0.94 | 0.69 | 1.01 | 97 |
16.65 | (10.44) | 351,674 | 1.44 | (0.13) | 1.48 | 53 |
20.61 | 40.52 | 367,940 | 1.44 | (0.05) | 1.47 | 60 |
15.60 | 12.01 | 274,741 | 1.44 | 0.19 | 1.49 | 84 |
15.31 | 8.63 | 289,675 | 1.44 | 0.27 | 1.49 | 91 |
15.99 | 12.66 | 302,297 | 1.44 | 0.19 | 1.50 | 97 |
17.56 | (9.78) | 1,863,855 | 0.69 | 0.63 | 0.73 | 53 |
21.59 | 41.64 | 1,731,572 | 0.69 | 0.69 | 0.72 | 60 |
16.27 | 12.82 | 1,038,998 | 0.69 | 0.94 | 0.73 | 84 |
15.91 | 9.47 | 1,121,609 | 0.69 | 1.03 | 0.74 | 91 |
16.51 | 13.44 | 1,521,535 | 0.71 | 0.92 | 0.75 | 97 |
17.60 | (9.63) | 1,578,191 | 0.54 | 0.76 | 0.57 | 53 |
21.63 | 41.81 | 1,907,620 | 0.54 | 0.83 | 0.58 | 60 |
16.30 | 13.03 | 1,309,531 | 0.55 | 1.08 | 0.59 | 84 |
15.93 | 9.60 | 1,552,520 | 0.55 | 1.16 | 0.60 | 91 |
16.53 | 13.56 | 1,679,995 | 0.57 | 1.05 | 0.60 | 97 |
17.25 | (10.28) | 219,960 | 1.19 | 0.11 | 1.23 | 53 |
21.26 | 40.92 | 269,266 | 1.19 | 0.20 | 1.22 | 60 |
16.04 | 12.29 | 216,689 | 1.19 | 0.44 | 1.23 | 84 |
15.70 | 8.89 | 244,356 | 1.19 | 0.52 | 1.24 | 91 |
16.34 | 12.88 | 265,675 | 1.21 | 0.42 | 1.25 | 97 |
17.40 | (10.04) | 157,177 | 0.94 | 0.37 | 0.97 | 53 |
21.42 | 41.30 | 174,770 | 0.94 | 0.44 | 0.97 | 60 |
16.15 | 12.57 | 117,991 | 0.94 | 0.70 | 0.98 | 84 |
15.80 | 9.14 | 111,902 | 0.94 | 0.79 | 0.99 | 91 |
16.43 | 13.18 | 61,413 | 0.95 | 0.69 | 1.00 | 97 |
17.52 | (9.80) | 55,292 | 0.69 | 0.63 | 0.72 | 53 |
21.55 | 41.58 | 45,443 | 0.69 | 0.69 | 0.72 | 60 |
16.25 | 12.84 | 21,651 | 0.69 | 0.95 | 0.73 | 84 |
15.89 | 9.44 | 22,870 | 0.69 | 1.08 | 0.75 | 91 |
16.50 | 13.48 | 10,531 | 0.70 | 0.94 | 0.75 | 97 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 167 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. Equity Fund (continued) | |||||||
Class R5 | |||||||
Year Ended June 30, 2022 | $21.64 | $0.16 | $(1.82) | $(1.66) | $(0.15) | $(2.23) | $(2.38) |
Year Ended June 30, 2021 | 16.31 | 0.16 | 6.44 | 6.60 | (0.16) | (1.11) | (1.27) |
Year Ended June 30, 2020 | 15.94 | 0.17 | 1.83 | 2.00 | (0.17) | (1.46) | (1.63) |
Year Ended June 30, 2019 | 16.54 | 0.19 | 1.17 | 1.36 | (0.17) | (1.79) | (1.96) |
Year Ended June 30, 2018 | 15.85 | 0.18 | 1.95 | 2.13 | (0.18) | (1.26) | (1.44) |
Class R6 | |||||||
Year Ended June 30, 2022 | 21.69 | 0.19 | (1.82) | (1.63) | (0.18) | (2.23) | (2.41) |
Year Ended June 30, 2021 | 16.34 | 0.18 | 6.46 | 6.64 | (0.18) | (1.11) | (1.29) |
Year Ended June 30, 2020 | 15.97 | 0.19 | 1.83 | 2.02 | (0.19) | (1.46) | (1.65) |
Year Ended June 30, 2019 | 16.56 | 0.20 | 1.19 | 1.39 | (0.19) | (1.79) | (1.98) |
Year Ended June 30, 2018 | 15.87 | 0.19 | 1.95 | 2.14 | (0.19) | (1.26) | (1.45) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
168 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$17.60 | (9.68)% | $911,961 | 0.54% | 0.76% | 0.57% | 53% |
21.64 | 41.79 | 1,089,931 | 0.54 | 0.84 | 0.57 | 60 |
16.31 | 13.04 | 817,671 | 0.54 | 1.09 | 0.58 | 84 |
15.94 | 9.60 | 842,888 | 0.54 | 1.17 | 0.59 | 91 |
16.54 | 13.66 | 938,744 | 0.54 | 1.08 | 0.60 | 97 |
17.65 | (9.56) | 11,891,028 | 0.44 | 0.87 | 0.47 | 53 |
21.69 | 41.98 | 12,615,063 | 0.44 | 0.95 | 0.47 | 60 |
16.34 | 13.13 | 9,272,379 | 0.44 | 1.20 | 0.48 | 84 |
15.97 | 9.74 | 8,559,285 | 0.44 | 1.27 | 0.49 | 91 |
16.56 | 13.75 | 8,937,049 | 0.46 | 1.17 | 0.50 | 97 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 169 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. GARP Equity Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $73.40 | $(0.02) | $(8.99) | $(9.01) | $— | $(14.78) | $(14.78) |
Year Ended June 30, 2021 | 57.64 | (0.01) | 21.89 | 21.88 | (0.52) | (5.60) | (6.12) |
Year Ended June 30, 2020 | 56.61 | 0.63(d) | 7.41 | 8.04 | (0.34) | (6.67) | (7.01) |
Year Ended June 30, 2019 | 59.09 | 0.45 | 3.01 | 3.46 | (0.30) | (5.64) | (5.94) |
Year Ended June 30, 2018 | 48.60 | 0.23 | 10.51 | 10.74 | (0.25) | — | (0.25) |
Class C | |||||||
Year Ended June 30, 2022 | 71.55 | (0.35) | (8.60) | (8.95) | — | (14.78) | (14.78) |
Year Ended June 30, 2021 | 56.26 | (0.32) | 21.36 | 21.04 | (0.15) | (5.60) | (5.75) |
Year Ended June 30, 2020 | 55.45 | 0.35(d) | 7.22 | 7.57 | (0.09) | (6.67) | (6.76) |
Year Ended June 30, 2019 | 58.00 | 0.16 | 2.97 | 3.13 | (0.04) | (5.64) | (5.68) |
Year Ended June 30, 2018 | 47.72 | (0.04) | 10.32 | 10.28 | — | — | — |
Class I | |||||||
Year Ended June 30, 2022 | 75.08 | 0.15 | (9.28) | (9.13) | (0.12) | (14.78) | (14.90) |
Year Ended June 30, 2021 | 58.80 | 0.16 | 22.37 | 22.53 | (0.65) | (5.60) | (6.25) |
Year Ended June 30, 2020 | 57.60 | 0.79(d) | 7.54 | 8.33 | (0.46) | (6.67) | (7.13) |
Year Ended June 30, 2019 | 60.04 | 0.60 | 3.05 | 3.65 | (0.45) | (5.64) | (6.09) |
Year Ended June 30, 2018 | 49.34 | 0.38 | 10.68 | 11.06 | (0.36) | — | (0.36) |
Class R2 | |||||||
Year Ended June 30, 2022 | 71.18 | (0.18) | (8.57) | (8.75) | — | (14.78) | (14.78) |
Year Ended June 30, 2021 | 56.08 | (0.17) | 21.26 | 21.09 | (0.39) | (5.60) | (5.99) |
Year Ended June 30, 2020 | 55.27 | 0.48(d) | 7.22 | 7.70 | (0.22) | (6.67) | (6.89) |
Year Ended June 30, 2019 | 57.95 | 0.30 | 2.93 | 3.23 | (0.27) | (5.64) | (5.91) |
Year Ended June 30, 2018 | 47.66 | 0.09 | 10.31 | 10.40 | (0.11) | — | (0.11) |
Class R5 | |||||||
Year Ended June 30, 2022 | 73.80 | 0.24 | (9.05) | (8.81) | (0.19) | (14.78) | (14.97) |
Year Ended June 30, 2021 | 57.93 | 0.26 | 21.96 | 22.22 | (0.75) | (5.60) | (6.35) |
Year Ended June 30, 2020 | 56.82 | 0.86(d) | 7.47 | 8.33 | (0.55) | (6.67) | (7.22) |
Year Ended June 30, 2019 | 59.32 | 0.68 | 2.99 | 3.67 | (0.53) | (5.64) | (6.17) |
Year Ended June 30, 2018 | 48.76 | 0.46 | 10.56 | 11.02 | (0.46) | — | (0.46) |
Class R6 | |||||||
Year Ended June 30, 2022 | 73.81 | 0.31 | (9.04) | (8.73) | (0.28) | (14.78) | (15.06) |
Year Ended June 30, 2021 | 57.93 | 0.33 | 21.96 | 22.29 | (0.81) | (5.60) | (6.41) |
Year Ended June 30, 2020 | 56.81 | 0.91(d) | 7.49 | 8.40 | (0.61) | (6.67) | (7.28) |
Year Ended June 30, 2019 | 59.32 | 0.74 | 2.98 | 3.72 | (0.59) | (5.64) | (6.23) |
Year Ended June 30, 2018 | 48.74 | 0.51 | 10.56 | 11.07 | (0.49) | — | (0.49) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(d) | Reflects special dividends paid out during the year by several of the Fund’s holdings. Had the Fund not received the special dividends, the net investment income (loss) per share would have been $0.27, $(0.01), $0.41, $0.13, $0.49 and $0.55 for Class A, Class C, Class I, Class R2, Class R5 and Class R6 Shares, respectively, and the net investment income (loss) ratio would have been 0.48%, (0.02)%, 0.73%, 0.23%, 0.88% and 0.99% for Class A, Class C, Class I, Class R2, Class R5 and Class R6 Shares, respectively. |
170 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers | Portfolio turnover rate |
$49.61 | (17.46)% | $92,344 | 0.84% | (0.03)% | 0.91% | 44% |
73.40 | 40.08 | 119,893 | 0.84 | (0.01) | 0.90 | 64 |
57.64 | 15.11 | 94,017 | 0.84 | 1.15(d) | 0.94 | 96 |
56.61 | 7.06 | 106,993 | 0.84 | 0.79 | 1.12 | 95 |
59.09 | 22.13 | 104,167 | 0.86 | 0.42 | 1.11 | 69 |
47.82 | (17.87) | 19,522 | 1.34 | (0.54) | 1.41 | 44 |
71.55 | 39.44 | 30,159 | 1.34 | (0.50) | 1.40 | 64 |
56.26 | 14.50 | 31,216 | 1.34 | 0.65(d) | 1.42 | 96 |
55.45 | 6.51 | 35,931 | 1.34 | 0.29 | 1.61 | 95 |
58.00 | 21.54 | 37,416 | 1.36 | (0.08) | 1.61 | 69 |
51.05 | (17.25) | 86,649 | 0.59 | 0.21 | 0.65 | 44 |
75.08 | 40.46 | 164,959 | 0.59 | 0.25 | 0.65 | 64 |
58.80 | 15.38 | 141,497 | 0.59 | 1.40(d) | 0.67 | 96 |
57.60 | 7.33 | 163,324 | 0.59 | 1.04 | 0.86 | 95 |
60.04 | 22.45 | 196,798 | 0.61 | 0.67 | 0.86 | 69 |
47.65 | (17.66) | 31,751 | 1.09 | (0.29) | 1.20 | 44 |
71.18 | 39.73 | 45,629 | 1.09 | (0.26) | 1.21 | 64 |
56.08 | 14.84 | 40,305 | 1.09 | 0.90(d) | 1.25 | 96 |
55.27 | 6.78 | 45,086 | 1.09 | 0.54 | 1.49 | 95 |
57.95 | 21.84 | 40,763 | 1.10 | 0.16 | 1.37 | 69 |
50.02 | (17.12) | 103,007 | 0.44 | 0.36 | 0.50 | 44 |
73.80 | 40.57 | 166,478 | 0.44 | 0.39 | 0.50 | 64 |
57.93 | 15.63 | 189,889 | 0.44 | 1.55(d) | 0.52 | 96 |
56.82 | 7.48 | 194,550 | 0.44 | 1.19 | 0.71 | 95 |
59.32 | 22.66 | 201,539 | 0.45 | 0.83 | 0.71 | 69 |
50.02 | (17.03) | 642,876 | 0.34 | 0.47 | 0.40 | 44 |
73.81 | 40.70 | 780,470 | 0.34 | 0.50 | 0.40 | 64 |
57.93 | 15.76 | 617,458 | 0.34 | 1.65(d) | 0.42 | 96 |
56.81 | 7.59 | 602,454 | 0.34 | 1.29 | 0.61 | 95 |
59.32 | 22.78 | 588,911 | 0.36 | 0.92 | 0.61 | 69 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 171 |
FOR THE PERIODS INDICATED
Per share operating performance | ||||||||
Investment operations | Distributions | |||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | Net asset value, end of period | |
JPMorgan U.S. Large Cap Core Plus Fund | ||||||||
Class A | ||||||||
Year Ended June 30, 2022 | $26.84 | $(0.08) | $(1.95) | $(2.03) | $— | $(6.78) | $(6.78) | $18.03 |
Year Ended June 30, 2021 | 24.58 | (0.10) | 9.21 | 9.11 | (0.03) | (6.82) | (6.85) | 26.84 |
Year Ended June 30, 2020 | 27.51 | 0.04 | 2.65 | 2.69 | (0.03) | (5.59) | (5.62) | 24.58 |
Year Ended June 30, 2019 | 30.10 | 0.05 | 1.53 | 1.58 | (0.05) | (4.12) | (4.17) | 27.51 |
Year Ended June 30, 2018 | 30.35 | —(i) | 3.87 | 3.87 | — | (4.12) | (4.12) | 30.10 |
Class C | ||||||||
Year Ended June 30, 2022 | 24.01 | (0.17) | (1.58) | (1.75) | — | (6.78) | (6.78) | 15.48 |
Year Ended June 30, 2021 | 22.67 | (0.21) | 8.37 | 8.16 | — | (6.82) | (6.82) | 24.01 |
Year Ended June 30, 2020 | 25.88 | (0.08) | 2.46 | 2.38 | — | (5.59) | (5.59) | 22.67 |
Year Ended June 30, 2019 | 28.65 | (0.08) | 1.43 | 1.35 | — | (4.12) | (4.12) | 25.88 |
Year Ended June 30, 2018 | 29.21 | (0.15) | 3.71 | 3.56 | — | (4.12) | (4.12) | 28.65 |
Class I | ||||||||
Year Ended June 30, 2022 | 27.53 | (0.02) | (2.05) | (2.07) | — | (6.78) | (6.78) | 18.68 |
Year Ended June 30, 2021 | 25.04 | (0.03) | 9.41 | 9.38 | (0.07) | (6.82) | (6.89) | 27.53 |
Year Ended June 30, 2020 | 27.94 | 0.10 | 2.69 | 2.79 | (0.10) | (5.59) | (5.69) | 25.04 |
Year Ended June 30, 2019 | 30.51 | 0.13 | 1.54 | 1.67 | (0.12) | (4.12) | (4.24) | 27.94 |
Year Ended June 30, 2018 | 30.66 | 0.08 | 3.92 | 4.00 | (0.03) | (4.12) | (4.15) | 30.51 |
Class R2 | ||||||||
Year Ended June 30, 2022 | 25.27 | (0.15) | (1.75) | (1.90) | — | (6.78) | (6.78) | 16.59 |
Year Ended June 30, 2021 | 23.54 | (0.18) | 8.74 | 8.56 | (0.01) | (6.82) | (6.83) | 25.27 |
Year Ended June 30, 2020 | 26.62 | (0.04) | 2.55 | 2.51 | — | (5.59) | (5.59) | 23.54 |
Year Ended June 30, 2019 | 29.31 | (0.04) | 1.47 | 1.43 | — | (4.12) | (4.12) | 26.62 |
Year Ended June 30, 2018 | 29.74 | (0.09) | 3.78 | 3.69 | — | (4.12) | (4.12) | 29.31 |
Class R5 | ||||||||
Year Ended June 30, 2022 | 27.78 | — | (2.09) | (2.09) | — | (6.78) | (6.78) | 18.91 |
Year Ended June 30, 2021 | 25.20 | (0.02) | 9.49 | 9.47 | (0.07) | (6.82) | (6.89) | 27.78 |
Year Ended June 30, 2020 | 28.08 | 0.11 | 2.71 | 2.82 | (0.11) | (5.59) | (5.70) | 25.20 |
Year Ended June 30, 2019 | 30.65 | 0.14 | 1.55 | 1.69 | (0.14) | (4.12) | (4.26) | 28.08 |
Year Ended June 30, 2018 | 30.81 | 0.11 | 3.93 | 4.04 | (0.08) | (4.12) | (4.20) | 30.65 |
172 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Total return (excludes sales charge) (c)(d) | Net assets, end of period (000's) | Net expenses (including dividend and interest expense for securities sold short)(e)(f) | Net investment income (loss) | Expenses without waivers and reimbursements (including dividend and interest expense for securities sold short)(f) | Portfolio turnover rate (excluding securities sold short)(c) | Portfolio turnover rate (including securities sold short)(c) |
(12.89)% | $240,209 | 1.85(g) % | (0.33)% | 2.00% | 59% | 91% |
42.30 | 335,206 | 1.94(h) | (0.39) | 2.09 | 57 | 96 |
11.66 | 267,701 | 1.92 | 0.19 | 2.08 | 85 | 134 |
6.84 | 678,071 | 1.91 | 0.22 | 2.16 | 98 | 148 |
13.16 | 772,656 | 2.01 | 0.01 | 2.26 | 110 | 161 |
(13.31) | 28,297 | 2.35(g) | (0.82) | 2.51 | 59 | 91 |
41.55 | 36,784 | 2.43(h) | (0.88) | 2.58 | 57 | 96 |
11.11 | 59,105 | 2.42 | (0.32) | 2.58 | 85 | 134 |
6.31 | 108,332 | 2.42 | (0.29) | 2.67 | 98 | 148 |
12.58 | 158,677 | 2.50 | (0.50) | 2.75 | 110 | 161 |
(12.70) | 970,509 | 1.60(g) | (0.09) | 1.75 | 59 | 91 |
42.65 | 1,702,566 | 1.69(h) | (0.12) | 1.83 | 57 | 96 |
11.93 | 2,189,079 | 1.67 | 0.40 | 1.83 | 85 | 134 |
7.11 | 4,740,691 | 1.67 | 0.46 | 1.91 | 98 | 148 |
13.46 | 6,169,553 | 1.75 | 0.27 | 2.00 | 110 | 161 |
(13.23) | 4,602 | 2.20(g) | (0.67) | 2.26 | 59 | 91 |
41.77 | 5,838 | 2.29(h) | (0.74) | 2.34 | 57 | 96 |
11.32 | 4,560 | 2.27 | (0.13) | 2.34 | 85 | 134 |
6.45 | 5,304 | 2.27 | (0.14) | 2.45 | 98 | 148 |
12.81 | 6,528 | 2.31 | (0.30) | 2.52 | 110 | 161 |
(12.65) | 27,541 | 1.55(g) | (0.02) | 1.60 | 59 | 91 |
42.75 | 34,191 | 1.64(h) | (0.08) | 1.68 | 57 | 96 |
11.99 | 38,447 | 1.62 | 0.46 | 1.67 | 85 | 134 |
7.14 | 99,113 | 1.62 | 0.51 | 1.76 | 98 | 148 |
13.57 | 126,084 | 1.65 | 0.37 | 1.85 | 110 | 161 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 173 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | ||||||||
Investment operations | Distributions | |||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | Net asset value, end of period | |
JPMorgan U.S. Large Cap Core Plus Fund (continued) | ||||||||
Class R6 | ||||||||
Year Ended June 30, 2022 | $27.75 | $0.02 | $(2.09) | $(2.07) | $— | $(6.78) | $(6.78) | $18.90 |
Year Ended June 30, 2021 | 25.18 | —(i) | 9.47 | 9.47 | (0.08) | (6.82) | (6.90) | 27.75 |
Year Ended June 30, 2020 | 28.07 | 0.14 | 2.70 | 2.84 | (0.14) | (5.59) | (5.73) | 25.18 |
Year Ended June 30, 2019 | 30.63 | 0.17 | 1.56 | 1.73 | (0.17) | (4.12) | (4.29) | 28.07 |
November 1, 2017 (j) through June 30, 2018 | 32.99 | 0.09 | 1.79 | 1.88 | (0.12) | (4.12) | (4.24) | 30.63 |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) |
June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | June 30, 2018 | |
Net expenses (excluding dividend and interest expense for securities sold short) | |||||
Class A | 1.10% | 1.10% | 1.10% | 1.09% | 1.15% |
Class C | 1.60% | 1.59% | 1.60% | 1.60% | 1.65% |
Class I | 0.85% | 0.85% | 0.85% | 0.85% | 0.90% |
Class R2 | 1.45% | 1.45% | 1.45% | 1.45% | 1.47% |
Class R5 | 0.80% | 0.80% | 0.80% | 0.80% | 0.79% |
Class R6 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Expenses without waivers and reimbursements (excluding dividend and interest expense for securities sold short) | |||||
Class A | 1.25% | 1.25% | 1.26% | 1.34% | 1.40% |
Class C | 1.76% | 1.74% | 1.76% | 1.85% | 1.90% |
Class I | 1.00% | 0.99% | 1.01% | 1.09% | 1.15% |
Class R2 | 1.51% | 1.50% | 1.52% | 1.63% | 1.67% |
Class R5 | 0.85% | 0.84% | 0.85% | 0.94% | 1.00% |
Class R6 | 0.75% | 0.74% | 0.75% | 0.85% | 0.90% |
(g) | Interest expense on securities sold short is 0.62%. |
(h) | Interest expense on securities sold short is 0.16%. |
(i) | Amount rounds to less than $0.005. |
(j) | Commencement of offering of class of shares. |
174 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Total return (excludes sales charge) (c)(d) | Net assets, end of period (000's) | Net expenses (including dividend and interest expense for securities sold short)(e)(f) | Net investment income (loss) | Expenses without waivers and reimbursements (including dividend and interest expense for securities sold short)(f) | Portfolio turnover rate (excluding securities sold short)(c) | Portfolio turnover rate (including securities sold short)(c) |
(12.58)% | $365,912 | 1.45(g) % | 0.07% | 1.50% | 59% | 91% |
42.86 | 536,661 | 1.54(h) | 0.01 | 1.58 | 57 | 96 |
12.10 | 491,414 | 1.52 | 0.58 | 1.57 | 85 | 134 |
7.30 | 787,497 | 1.52 | 0.59 | 1.67 | 98 | 148 |
6.10 | 1,795,125 | 1.54 | 0.44 | 1.74 | 110 | 161 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 175 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. Research Enhanced Equity Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $36.46 | $0.27 | $(3.20) | $(2.93) | $(0.25) | $(4.40) | $(4.65) |
Year Ended June 30, 2021 | 26.55 | 0.27 | 10.81 | 11.08 | (0.34) | (0.83) | (1.17) |
Year Ended June 30, 2020 | 27.38 | 0.38 | 1.80 | 2.18 | (0.31) | (2.70) | (3.01) |
Year Ended June 30, 2019 | 28.37 | 0.34 | 1.96 | 2.30 | (0.36) | (2.93) | (3.29) |
Year Ended June 30, 2018 | 25.40 | 0.31 | 2.96 | 3.27 | (0.30) | — | (0.30) |
Class I | |||||||
Year Ended June 30, 2022 | 36.89 | 0.36 | (3.26) | (2.90) | (0.33) | (4.40) | (4.73) |
Year Ended June 30, 2021 | 26.85 | 0.35 | 10.94 | 11.29 | (0.42) | (0.83) | (1.25) |
Year Ended June 30, 2020 | 27.65 | 0.45 | 1.83 | 2.28 | (0.38) | (2.70) | (3.08) |
Year Ended June 30, 2019 | 28.61 | 0.41 | 1.98 | 2.39 | (0.42) | (2.93) | (3.35) |
Year Ended June 30, 2018 | 25.62 | 0.39 | 2.98 | 3.37 | (0.38) | — | (0.38) |
Class R6 | |||||||
Year Ended June 30, 2022 | 36.84 | 0.40 | (3.26) | (2.86) | (0.37) | (4.40) | (4.77) |
Year Ended June 30, 2021 | 26.81 | 0.38 | 10.93 | 11.31 | (0.45) | (0.83) | (1.28) |
Year Ended June 30, 2020 | 27.62 | 0.48 | 1.81 | 2.29 | (0.40) | (2.70) | (3.10) |
Year Ended June 30, 2019 | 28.57 | 0.44 | 1.98 | 2.42 | (0.44) | (2.93) | (3.37) |
Year Ended June 30, 2018 | 25.59 | 0.41 | 2.97 | 3.38 | (0.40) | — | (0.40) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
176 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers | Portfolio turnover rate |
$28.88 | (10.33)% | $145,624 | 0.60% | 0.77% | 0.84% | 30% |
36.46 | 42.55 | 180,296 | 0.60 | 0.85 | 0.84 | 35 |
26.55 | 9.08 | 183,005 | 0.60 | 1.45 | 0.85 | 59 |
27.38 | 9.39 | 207,809 | 0.60 | 1.24 | 0.85 | 42 |
28.37 | 12.92 | 278,766 | 0.60 | 1.13 | 0.85 | 45 |
29.26 | (10.13) | 611,102 | 0.35 | 1.02 | 0.59 | 30 |
36.89 | 42.92 | 686,545 | 0.35 | 1.09 | 0.58 | 35 |
26.85 | 9.38 | 204,193 | 0.35 | 1.70 | 0.59 | 59 |
27.65 | 9.65 | 232,077 | 0.35 | 1.50 | 0.59 | 42 |
28.61 | 13.19 | 268,898 | 0.35 | 1.39 | 0.60 | 45 |
29.21 | (10.05) | 5,994,312 | 0.25 | 1.15 | 0.34 | 30 |
36.84 | 43.09 | 4,185,201 | 0.25 | 1.19 | 0.33 | 35 |
26.81 | 9.47 | 3,585,672 | 0.25 | 1.79 | 0.34 | 59 |
27.62 | 9.78 | 4,953,109 | 0.25 | 1.60 | 0.34 | 42 |
28.57 | 13.28 | 5,712,617 | 0.25 | 1.50 | 0.34 | 45 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 177 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. Sustainable Leaders Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $59.20 | $0.39 | $(8.35) | $(7.96) | $(0.23) | $(2.21) | $(2.44) |
Year Ended June 30, 2021 | 42.76 | 0.42 | 16.81 | 17.23 | (0.30) | (0.49) | (0.79) |
Year Ended June 30, 2020 | 41.85 | 0.47 | 3.52 | 3.99 | (0.43) | (2.65) | (3.08) |
Year Ended June 30, 2019 | 41.28 | 0.50 | 3.21 | 3.71 | (0.41) | (2.73) | (3.14) |
Year Ended June 30, 2018 | 39.35 | 0.58 | 4.05 | 4.63 | (0.48) | (2.22) | (2.70) |
Class C | |||||||
Year Ended June 30, 2022 | 57.87 | 0.09 | (8.14) | (8.05) | — | (2.21) | (2.21) |
Year Ended June 30, 2021 | 41.80 | 0.16 | 16.43 | 16.59 | (0.03) | (0.49) | (0.52) |
Year Ended June 30, 2020 | 40.98 | 0.25 | 3.44 | 3.69 | (0.22) | (2.65) | (2.87) |
Year Ended June 30, 2019 | 40.44 | 0.29 | 3.16 | 3.45 | (0.18) | (2.73) | (2.91) |
Year Ended June 30, 2018 | 38.51 | 0.41 | 3.92 | 4.33 | (0.18) | (2.22) | (2.40) |
Class I | |||||||
Year Ended June 30, 2022 | 59.71 | 0.54 | (8.43) | (7.89) | (0.34) | (2.21) | (2.55) |
Year Ended June 30, 2021 | 43.11 | 0.55 | 16.95 | 17.50 | (0.41) | (0.49) | (0.90) |
Year Ended June 30, 2020 | 42.15 | 0.57 | 3.56 | 4.13 | (0.52) | (2.65) | (3.17) |
Year Ended June 30, 2019 | 41.56 | 0.60 | 3.23 | 3.83 | (0.51) | (2.73) | (3.24) |
Year Ended June 30, 2018 | 39.59 | 0.66 | 4.10 | 4.76 | (0.57) | (2.22) | (2.79) |
Class R6 | |||||||
Year Ended June 30, 2022 | 59.69 | 0.57 | (8.42) | (7.85) | (0.36) | (2.21) | (2.57) |
September 30, 2020 (f) through June 30, 2021 | 46.79 | 0.43 | 13.40 | 13.83 | (0.44) | (0.49) | (0.93) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Commencement of offering of class of shares. |
178 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(c) |
$48.80 | (14.36)% | $37,387 | 0.64% | 0.67% | 1.03% | 39% |
59.20 | 40.64 | 24,169 | 0.64 | 0.80 | 1.23 | 44 |
42.76 | 9.57 | 11,178 | 0.82 | 1.12 | 1.53 | 99 |
41.85 | 9.90 | 10,828 | 0.83 | 1.22 | 1.73 | 97 |
41.28 | 11.88 | 9,497 | 0.90 | 1.41 | 1.92 | 38 |
47.61 | (14.77) | 4,668 | 1.14 | 0.16 | 1.55 | 39 |
57.87 | 39.94 | 3,794 | 1.13 | 0.32 | 1.72 | 44 |
41.80 | 9.03 | 2,735 | 1.32 | 0.62 | 2.07 | 99 |
40.98 | 9.34 | 2,949 | 1.33 | 0.73 | 2.22 | 97 |
40.44 | 11.35 | 3,277 | 1.42 | 1.01 | 2.45 | 38 |
49.27 | (14.15) | 98,142 | 0.39 | 0.92 | 0.77 | 39 |
59.71 | 40.99 | 62,431 | 0.39 | 1.06 | 0.96 | 44 |
43.11 | 9.86 | 26,787 | 0.57 | 1.37 | 1.25 | 99 |
42.15 | 10.18 | 16,908 | 0.58 | 1.46 | 1.45 | 97 |
41.56 | 12.16 | 9,172 | 0.64 | 1.59 | 1.63 | 38 |
49.27 | (14.09) | 45,209 | 0.34 | 0.97 | 0.52 | 39 |
59.69 | 29.93 | 25,156 | 0.34 | 1.05 | 0.70 | 44 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 179 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. Value Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $64.61 | $0.74 | $(3.22) | $(2.48) | $(0.71) | $(1.21) | $(1.92) |
Year Ended June 30, 2021 | 45.62 | 0.64 | 19.59 | 20.23 | (0.60) | (0.64) | (1.24) |
Year Ended June 30, 2020 | 49.84 | 0.79 | (3.18) | (2.39) | (0.76) | (1.07) | (1.83) |
Year Ended June 30, 2019 | 49.77 | 0.85 | 2.21 | 3.06 | (0.85) | (2.14) | (2.99) |
Year Ended June 30, 2018 | 46.85 | 0.64 | 4.98 | 5.62 | (0.62) | (2.08) | (2.70) |
Class C | |||||||
Year Ended June 30, 2022 | 57.32 | 0.38 | (2.84) | (2.46) | (0.49) | (1.21) | (1.70) |
Year Ended June 30, 2021 | 40.63 | 0.32 | 17.40 | 17.72 | (0.39) | (0.64) | (1.03) |
Year Ended June 30, 2020 | 44.59 | 0.48 | (2.81) | (2.33) | (0.56) | (1.07) | (1.63) |
Year Ended June 30, 2019 | 44.91 | 0.53 | 1.98 | 2.51 | (0.69) | (2.14) | (2.83) |
Year Ended June 30, 2018 | 42.54 | 0.35 | 4.51 | 4.86 | (0.41) | (2.08) | (2.49) |
Class I | |||||||
Year Ended June 30, 2022 | 68.55 | 0.97 | (3.43) | (2.46) | (0.86) | (1.21) | (2.07) |
Year Ended June 30, 2021 | 48.34 | 0.83 | 20.76 | 21.59 | (0.74) | (0.64) | (1.38) |
Year Ended June 30, 2020 | 52.69 | 0.96 | (3.36) | (2.40) | (0.88) | (1.07) | (1.95) |
Year Ended June 30, 2019 | 52.41 | 1.00 | 2.36 | 3.36 | (0.94) | (2.14) | (3.08) |
Year Ended June 30, 2018 | 49.21 | 0.81 | 5.21 | 6.02 | (0.74) | (2.08) | (2.82) |
Class R2 | |||||||
Year Ended June 30, 2022 | 64.73 | 0.59 | (3.24) | (2.65) | (0.57) | (1.21) | (1.78) |
Year Ended June 30, 2021 | 45.72 | 0.50 | 19.63 | 20.13 | (0.48) | (0.64) | (1.12) |
Year Ended June 30, 2020 | 50.01 | 0.69 | (3.19) | (2.50) | (0.72) | (1.07) | (1.79) |
Year Ended June 30, 2019 | 49.98 | 0.63 | 2.31 | 2.94 | (0.77) | (2.14) | (2.91) |
Year Ended June 30, 2018 | 47.06 | 0.53 | 4.99 | 5.52 | (0.52) | (2.08) | (2.60) |
Class R3 | |||||||
Year Ended June 30, 2022 | 68.41 | 0.80 | (3.44) | (2.64) | (0.73) | (1.21) | (1.94) |
Year Ended June 30, 2021 | 48.25 | 0.68 | 20.73 | 21.41 | (0.61) | (0.64) | (1.25) |
Year Ended June 30, 2020 | 52.66 | 0.75 | (3.29) | (2.54) | (0.80) | (1.07) | (1.87) |
Year Ended June 30, 2019 | 52.41 | 0.89 | 2.33 | 3.22 | (0.83) | (2.14) | (2.97) |
July 31, 2017 (f) through June 30, 2018 | 49.99 | 0.68 | 4.46 | 5.14 | (0.64) | (2.08) | (2.72) |
Class R4 | |||||||
Year Ended June 30, 2022 | 68.60 | 0.94 | (3.41) | (2.47) | (0.88) | (1.21) | (2.09) |
Year Ended June 30, 2021 | 48.31 | 0.79 | 20.81 | 21.60 | (0.67) | (0.64) | (1.31) |
Year Ended June 30, 2020 | 52.69 | 1.04 | (3.46) | (2.42) | (0.89) | (1.07) | (1.96) |
Year Ended June 30, 2019 | 52.41 | 1.02 | 2.34 | 3.36 | (0.94) | (2.14) | (3.08) |
July 31, 2017 (f) through June 30, 2018 | 49.99 | 0.79 | 4.46 | 5.25 | (0.75) | (2.08) | (2.83) |
Class R5 | |||||||
Year Ended June 30, 2022 | 69.09 | 1.12 | (3.51) | (2.39) | (0.97) | (1.21) | (2.18) |
Year Ended June 30, 2021 | 48.69 | 0.93 | 20.93 | 21.86 | (0.82) | (0.64) | (1.46) |
Year Ended June 30, 2020 | 53.06 | 1.04 | (3.39) | (2.35) | (0.95) | (1.07) | (2.02) |
Year Ended June 30, 2019 | 52.74 | 1.09 | 2.38 | 3.47 | (1.01) | (2.14) | (3.15) |
Year Ended June 30, 2018 | 49.50 | 0.91 | 5.23 | 6.14 | (0.82) | (2.08) | (2.90) |
180 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$60.21 | (4.04)% | $723,238 | 0.94% | 1.13% | 1.03% | 22% |
64.61 | 44.88 | 522,230 | 0.93 | 1.17 | 1.03 | 14 |
45.62 | (5.11) | 497,399 | 0.94 | 1.61 | 1.06 | 22 |
49.84 | 6.68 | 490,597 | 0.93 | 1.73 | 1.06 | 26 |
49.77 | 12.04 | 476,090 | 0.97 | 1.29 | 1.08 | 32 |
53.16 | (4.52) | 71,714 | 1.44 | 0.66 | 1.52 | 22 |
57.32 | 44.13 | 37,539 | 1.43 | 0.66 | 1.51 | 14 |
40.63 | (5.57) | 26,487 | 1.44 | 1.11 | 1.53 | 22 |
44.59 | 6.15 | 26,032 | 1.43 | 1.21 | 1.54 | 26 |
44.91 | 11.45 | 23,034 | 1.47 | 0.77 | 1.55 | 32 |
64.02 | (3.80) | 1,440,632 | 0.69 | 1.40 | 0.76 | 22 |
68.55 | 45.22 | 868,339 | 0.69 | 1.35 | 0.75 | 14 |
48.34 | (4.85) | 135,234 | 0.69 | 1.88 | 0.78 | 22 |
52.69 | 6.94 | 94,500 | 0.68 | 1.93 | 0.79 | 26 |
52.41 | 12.29 | 77,737 | 0.72 | 1.55 | 0.79 | 32 |
60.30 | (4.29) | 3,563 | 1.19 | 0.89 | 1.26 | 22 |
64.73 | 44.51 | 2,005 | 1.18 | 0.90 | 1.25 | 14 |
45.72 | (5.34) | 1,126 | 1.19 | 1.46 | 1.98 | 22 |
50.01 | 6.41 | 108 | 1.18 | 1.30 | 2.77 | 26 |
49.98 | 11.76 | 41 | 1.21 | 1.06 | 1.49 | 32 |
63.83 | (4.06) | 8,698 | 0.94 | 1.14 | 1.01 | 22 |
68.41 | 44.89 | 1,402 | 0.94 | 1.15 | 1.01 | 14 |
48.25 | (5.10) | 398 | 0.94 | 1.50 | 1.03 | 22 |
52.66 | 6.66 | 24 | 0.93 | 1.73 | 1.84 | 26 |
52.41 | 10.33 | 22 | 0.94 | 1.42 | 1.12 | 32 |
64.04 | (3.81) | 253 | 0.69 | 1.34 | 0.78 | 22 |
68.60 | 45.26 | 106 | 0.68 | 1.46 | 0.76 | 14 |
48.31 | (4.88) | 1,159 | 0.69 | 2.15 | 0.77 | 22 |
52.69 | 6.94 | 24 | 0.68 | 1.98 | 1.60 | 26 |
52.41 | 10.56 | 22 | 0.71 | 1.64 | 0.87 | 32 |
64.52 | (3.67) | 4,409 | 0.54 | 1.60 | 0.61 | 22 |
69.09 | 45.47 | 178 | 0.54 | 1.56 | 0.61 | 14 |
48.69 | (4.72) | 83 | 0.54 | 2.02 | 5.20 | 22 |
53.06 | 7.10 | 74 | 0.53 | 2.10 | 1.01 | 26 |
52.74 | 12.48 | 43 | 0.55 | 1.72 | 0.80 | 32 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 181 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan U.S. Value Fund (continued) | |||||||
Class R6 | |||||||
Year Ended June 30, 2022 | $69.10 | $1.16 | $(3.47) | $(2.31) | $(1.03) | $(1.21) | $(2.24) |
Year Ended June 30, 2021 | 48.70 | 1.02 | 20.89 | 21.91 | (0.87) | (0.64) | (1.51) |
Year Ended June 30, 2020 | 53.08 | 1.11 | (3.42) | (2.31) | (1.00) | (1.07) | (2.07) |
Year Ended June 30, 2019 | 52.75 | 1.16 | 2.36 | 3.52 | (1.05) | (2.14) | (3.19) |
Year Ended June 30, 2018 | 49.50 | 1.04 | 5.16 | 6.20 | (0.87) | (2.08) | (2.95) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Commencement of offering of class of shares. |
182 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$64.55 | (3.56)% | $561,821 | 0.44% | 1.66% | 0.51% | 22% |
69.10 | 45.60 | 275,186 | 0.44 | 1.74 | 0.50 | 14 |
48.70 | (4.64) | 64,968 | 0.44 | 2.14 | 0.53 | 22 |
53.08 | 7.21 | 41,144 | 0.43 | 2.22 | 0.53 | 26 |
52.75 | 12.59 | 33,774 | 0.44 | 1.95 | 0.52 | 32 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 183 |
AS OF June 30, 2022
(Dollar values in thousands)
Classes Offered | Trust | Diversification Classification | |
JPMorgan Equity Focus Fund | Class A, Class C, Class I and Class R6 | JPM I | Diversified |
JPMorgan Equity Income Fund | Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPM II | Diversified |
JPMorgan Equity Index Fund | Class A, Class C, Class I and Class R6 | JPM II | Diversified |
JPMorgan Equity Premium Income Fund | Class A, Class C, Class I, Class R5 and Class R6 | JPM IV | Diversified |
JPMorgan Hedged Equity Fund | Class A, Class C, Class I, Class R5 and Class R6 | JPM I | Diversified |
JPMorgan Hedged Equity 2 Fund | Class A, Class C, Class I, Class R5 and Class R6 | JPM IV | Diversified |
JPMorgan Hedged Equity 3 Fund | Class A, Class C, Class I, Class R5 and Class R6 | JPM IV | Diversified |
JPMorgan Large Cap Growth Fund | Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPM II | Diversified |
JPMorgan Large Cap Value Fund | Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPM II | Diversified |
JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund)(1) | Class A, Class C, Class I, Class R2, Class R5 and Class R6 | JPM I | Diversified |
JPMorgan U.S. Equity Fund | Class A, Class C, Class I, Class L, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPM I | Diversified |
JPMorgan U.S. GARP Equity Fund | Class A, Class C, Class I, Class R2, Class R5 and Class R6 | JPM I | Diversified |
JPMorgan U.S. Large Cap Core Plus Fund | Class A, Class C, Class I, Class R2, Class R5 and Class R6 | JPM I | Diversified |
JPMorgan U.S. Research Enhanced Equity Fund | Class A, Class I, Class L and Class R6 | JPM I | Diversified |
JPMorgan U.S. Sustainable Leaders Fund | Class A, Class C, Class I and Class R6 | JPM I | Diversified |
JPMorgan U.S. Value Fund | Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPM I | Diversified |
(1) | Effective July 1, 2021, JPMorgan Intrepid Value Fund changed its name to JPMorgan U.S. Applied Data Science Value Fund. |
184 | J.P. Morgan Large Cap Funds | June 30, 2022 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 185 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Equity Focus Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $184,597 | $— | $— | $184,597 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Equity Income Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $45,922,289 | $— | $— | $45,922,289 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Equity Index Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $7,253,457 | $— | $— | $7,253,457 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(461) | $— | $— | $(461) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Equity Premium Income Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | $2,978,011 | $— | $— | $2,978,011 |
Equity-Linked Notes | — | 528,367 | — | 528,367 |
Short-Term Investments | ||||
Investment Companies | 80,017 | — | — | 80,017 |
Total Investments in Securities | $3,058,028 | $528,367 | $— | $3,586,395 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $144 | $— | $— | $144 |
186 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Hedged Equity Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $16,599,106 | $— | $— | $16,599,106 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $3,514 | $— | $— | $3,514 |
Depreciation in Other Financial Instruments | ||||
Options Written | ||||
Call Options Written | (382,976) | — | — | (382,976) |
Put Options Written | (118,592) | — | — | (118,592) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(498,054) | $— | $— | $(498,054) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Hedged Equity 2 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $5,749,376 | $— | $— | $5,749,376 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(100) | $— | $— | $(100) |
Options Written (a) | ||||
Call Options Written | (1,557) | — | — | (1,557) |
Put Options Written | (15,142) | — | — | (15,142) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(16,799) | $— | $— | $(16,799) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Hedged Equity 3 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $2,843,175 | $— | $— | $2,843,175 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(303) | $— | $— | $(303) |
Options Written (a) | ||||
Call Options Written | (5,192) | — | — | (5,192) |
Put Options Written | (26,172) | — | — | (26,172) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(31,667) | $— | $— | $(31,667) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 187 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Large Cap Growth Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $31,336,829 | $— | $— | $31,336,829 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Large Cap Value Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $3,196,523 | $— | $— | $3,196,523 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Applied Data Science Value Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $196,301 | $— | $— | $196,301 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $104 | $— | $— | $104 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Equity Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $18,566,512 | $— | $— | $18,566,512 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $5,370 | $— | $— | $5,370 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. GARP Equity Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $974,935 | $— | $— | $974,935 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(1,059) | $— | $— | $(1,059) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
188 | J.P. Morgan Large Cap Funds | June 30, 2022 |
U.S. Large Cap Core Plus Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $2,004,783 | $— | $— | $2,004,783 |
Total Liabilities in Securities Sold Short (a) | $(370,095) | $— | $— | $(370,095) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Research Enhanced Equity Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $6,716,110 | $— | $— | $6,716,110 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(2,838) | $— | $— | $(2,838) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Sustainable Leaders Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $182,810 | $— | $— | $182,810 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(62) | $— | $— | $(62) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Value Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $2,803,282 | $— | $— | $2,803,282 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 189 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Investment Securities on Loan, at value, Presented on the Statements of Assets and Liabilities | Cash Collateral Posted by Borrower* | Net Amount Due to Counterparty (not less than zero) | |
Equity Index Fund | $5,442 | $(5,442) | $— |
Large Cap Growth Fund | 5,817 | (5,817) | — |
U.S. GARP Equity Fund | 587 | (587) | — |
U.S. Sustainable Leaders Fund | 182 | (182) | — |
* | Collateral posted reflects the value of securities on loan and does not include any additional amounts received from the borrower. |
190 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Equity Income Fund | $—(a) |
Equity Index Fund | 6 |
Equity Premium Income Fund | 1 |
Large Cap Growth Fund | 15 |
Large Cap Value Fund | 2 |
U.S. Applied Data Science Value Fund | —(a) |
U.S. Equity Fund | 4 |
U.S. GARP Equity Fund | 1 |
U.S. Sustainable Leaders Fund | —(a) |
U.S. Value Fund | —(a) |
(a) | Amount rounds to less than one thousand. |
Equity Focus Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $3,582 | $70,550 | $62,792 | $— | $1 | $11,341 | 11,339 | $18 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 191 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Equity Income Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $1,108,433 | $6,320,812 | $6,761,327 | $(292) | $(113) | $667,513 | 667,379 | $2,188 | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% | — | 48,517 | 48,517 | — | — | — | — | —(c) * | — |
Total | $1,108,433 | $6,369,329 | $6,809,844 | $(292) | $(113) | $667,513 | $2,188 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
(c) | Amount rounds to less than one thousand. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Equity Index Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Chase & Co. (a) | $85,747 | $25,635 | $10,157 | $(840) | $(25,723) | $74,662 | 663 | $2,345 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (b) (c) | 25,407 | 536,000 | 557,000 | (6)* | 2 | 4,403 | 4,405 | 66* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) | 4,179 | 556,543 | 559,125 | — | — | 1,597 | 1,597 | 33* | — |
JPMorgan U.S. Government Money Market Fund Class Institutional Shares, 1.31% (b) (c) | 26,043 | 2,668,846 | 2,649,292 | — | — | 45,597 | 45,597 | 60 | — |
Total | $141,376 | $3,787,024 | $3,775,574 | $(846) | $(25,721) | $126,259 | $2,504 | $— |
(a) | Investment in affiliate. This security is included in an index in which the Fund, as an index fund, tracks. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Equity Premium Income Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $43,928 | $3,889,048 | $3,852,962 | $1 | $2 | $80,017 | 80,001 | $160 | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% | — | 12,195 | 12,195 | — | — | — | — | —(c) | — |
Total | $43,928 | $3,901,243 | $3,865,157 | $1 | $2 | $80,017 | $160 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
192 | J.P. Morgan Large Cap Funds | June 30, 2022 |
(b) | The rate shown is the current yield as of June 30, 2022. |
(c) | Amount rounds to less than one thousand. |
Hedged Equity Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class Institutional Shares, 1.31% (a) (b) | $312,969 | $3,762,695 | $4,075,664 | $— | $— | $— | — | $213 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
Hedged Equity 2 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | $82,933 | $4,627,971 | $4,498,892 | $— | $— | $212,012 | 212,012 | $202 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
Hedged Equity 3 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | $17,690 | $2,181,103 | $2,138,076 | $— | $— | $60,717 | 60,717 | $103 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
Large Cap Growth Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $1,501,233 | $14,831,932 | $14,455,686 | $(377) | $(213) | $1,876,889 | 1,876,514 | $5,759 | $— |
June 30, 2022 | J.P. Morgan Large Cap Funds | 193 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Large Cap Growth Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | $314,119 | $1,128,800 | $1,439,000 | $(48)* | $17 | $3,888 | 3,890 | $104* | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 113,675 | 1,072,987 | 1,184,111 | — | — | 2,551 | 2,552 | 20* | — |
Total | $1,929,027 | $17,033,719 | $17,078,797 | $(425) | $(196) | $1,883,328 | $5,883 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Large Cap Value Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $57,325 | $2,812,765 | $2,739,615 | $(8) | $7 | $130,474 | 130,449 | $302 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 7,897 | 283,000 | 290,893 | (5)* | 1 | — | — | 15* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 23,462 | 96,315 | 119,777 | — | — | — | — | 2* | — |
Total | $88,684 | $3,192,080 | $3,150,285 | $(13) | $8 | $130,474 | $319 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. Applied Data Science Value Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $9,182 | $37,176 | $43,391 | $— | $—(c) | $2,967 | 2,966 | $9 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
(c) | Amount rounds to less than one thousand. |
194 | J.P. Morgan Large Cap Funds | June 30, 2022 |
U.S. Equity Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $228,846 | $5,788,266 | $5,422,728 | $(137) | $29 | $594,276 | 594,157 | $1,142 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 26,995 | 617,999 | 644,947 | (50)* | 3 | — | — | 18* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 3,506 | 642,759 | 646,256 | — | — | 9 | 9 | 2* | — |
Total | $259,347 | $7,049,024 | $6,713,931 | $(187) | $32 | $594,285 | $1,162 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. GARP Equity Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $31,110 | $218,618 | $211,239 | $(5) | $(1) | $38,483 | 38,475 | $71 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 1,994 | 23,000 | 24,994 | —*(c) | —(c) | — | — | —*(c) | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 915 | 40,155 | 40,432 | — | — | 638 | 638 | 6* | — |
Total | $34,019 | $281,773 | $276,665 | $(5) | $(1) | $39,121 | $77 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
(c) | Amount rounds to less than one thousand. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. Large Cap Core Plus Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $11,580 | $573,393 | $578,292 | $(2) | $—(c) | $6,679 | 6,678 | $48 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
(c) | Amount rounds to less than one thousand. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 195 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
U.S. Research Enhanced Equity Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $66,914 | $5,058,203 | $5,007,077 | $(46) | $—(c) | $117,994 | 117,970 | $271 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
(c) | Amount rounds to less than one thousand. |
U.S. Sustainable Leaders Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $4,580 | $115,984 | $118,029 | $(1) | $(1) | $2,533 | 2,533 | $8 | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | — | 7,501 | 7,303 | — | — | 198 | 198 | 1* | — |
Total | $4,580 | $123,485 | $125,332 | $(1) | $(1) | $2,731 | $9 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. Value Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $38,028 | $1,577,329 | $1,538,932 | $(21) | $7 | $76,411 | 76,396 | $193 | $— |
(a) | Investment in an affiliated fund, which is is managed by JP Morgan Chase Bank, N.A. |
(b) | The rate shown is the current yield as of June 30, 2022. |
196 | J.P. Morgan Large Cap Funds | June 30, 2022 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 197 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Equity Index Fund | Equity Premium Income Fund | |
Futures Contracts: | ||
Average Notional Balance Long | $44,441 | $22,304 |
Average Notional Balance Short | — | (10,778) |
Ending Notional Balance Long | 54,473 | 25,813 |
Hedged Equity Fund | Hedged Equity 2 Fund | Hedged Equity 3 Fund | |
Futures Contracts: | |||
Average Notional Balance Long | $288,718 | $58,373 | $29,016 |
Ending Notional Balance Long | 478,296 | 71,365 | 63,203 |
Exchange-Traded Options: | |||
Average Number of Contracts Purchased | 42,291 | 8,447 | 4,480 |
Average Number of Contracts Written | (84,582) | (16,893) | (8,959) |
Ending Number of Contracts Purchased | 43,520 | 14,152 | 7,112 |
Ending Number of Contracts Written | (87,040) | (28,304) | (14,224) |
U.S. Applied Data Science Value Fund | U.S. Equity Fund | U.S. GARP Equity Fund | |
Futures Contracts: | |||
Average Notional Balance Long | $4,570 | $234,937 | $25,261 |
Ending Notional Balance Long | 3,227 | 251,485 | 37,960 |
U.S. Large Cap Core Plus Fund | U.S. Research Enhanced Equity Fund | U.S. Sustainable Leaders Fund | |
Futures Contracts: | |||
Average Notional Balance Long | $1,459 | $72,874 | $2,642 |
Ending Notional Balance Long | — | 142,730 | 4,647 |
198 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | Total | |
Equity Focus Fund | ||||||||||
Transfer agency fees | $1 | $—(a) | $2 | n/a | n/a | n/a | n/a | n/a | $1 | $4 |
Equity Income Fund | ||||||||||
Transfer agency fees | 32 | 48 | 349 | n/a | $12 | $7 | $5 | $29 | 327 | 809 |
Equity Index Fund | ||||||||||
Transfer agency fees | 145 | 5 | 39 | n/a | n/a | n/a | n/a | n/a | 42 | 231 |
Equity Premium Income Fund | ||||||||||
Transfer agency fees | 10 | 7 | 47 | n/a | n/a | n/a | n/a | —(a) | 1 | 65 |
Hedged Equity Fund | ||||||||||
Transfer agency fees | 25 | 13 | 174 | n/a | n/a | n/a | n/a | —(a) | 33 | 245 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 199 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | Total | |
Hedged Equity 2 Fund | ||||||||||
Transfer agency fees | $4 | $4 | $26 | n/a | n/a | n/a | n/a | $—(a) | $4 | $38 |
Hedged Equity 3 Fund | ||||||||||
Transfer agency fees | 1 | 1 | 15 | n/a | n/a | n/a | n/a | —(a) | 2 | 19 |
Large Cap Growth Fund | ||||||||||
Transfer agency fees | 315 | 22 | 122 | n/a | $10 | $5 | $3 | 13 | 214 | 704 |
Large Cap Value Fund | ||||||||||
Transfer agency fees | 32 | 3 | 260 | n/a | 2 | —(a) | —(a) | 2 | 22 | 321 |
U.S. Applied Data Science Value Fund | ||||||||||
Transfer agency fees | 1 | 1 | 4 | n/a | 4 | n/a | n/a | —(a) | 1 | 11 |
U.S. Equity Fund | ||||||||||
Transfer agency fees | 87 | 13 | 72 | $39 | 7 | 4 | 1 | 10 | 126 | 359 |
U.S. GARP Equity Fund | ||||||||||
Transfer agency fees | 11 | 2 | 4 | n/a | 23 | n/a | n/a | 1 | 6 | 47 |
U.S. Large Cap Core Plus Fund | ||||||||||
Transfer agency fees | 7 | 3 | 42 | n/a | 1 | n/a | n/a | —(a) | 5 | 58 |
U.S. Research Enhanced Equity Fund | ||||||||||
Transfer agency fees | 11 | n/a | 12 | n/a | n/a | n/a | n/a | n/a | 39 | 62 |
U.S. Sustainable Leaders Fund | ||||||||||
Transfer agency fees | 3 | 1 | 3 | n/a | n/a | n/a | n/a | n/a | 1 | 8 |
U.S. Value Fund | ||||||||||
Transfer agency fees | 115 | 4 | 15 | n/a | —(a) | —(a) | —(a) | —(a) | 7 | 141 |
(a) | Amount rounds to less than one thousand. |
200 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
Equity Focus Fund | $— | $(1) | $1 |
Equity Income Fund | — | 152 | (152) |
Equity Index Fund | — | (574) | 574 |
Equity Premium Income Fund | — | (28) | 28 |
Hedged Equity Fund | — | (1,777) | 1,777 |
Hedged Equity 2 Fund | — | (92) | 92 |
Hedged Equity 3 Fund | — | (45) | 45 |
Large Cap Growth Fund | — | (1,745) | 1,745 |
Large Cap Value Fund | — | 21 | (21) |
U.S. Applied Data Science Value Fund | 5,045 | (47) | (4,998) |
U.S. Equity Fund | (72) | (387) | 459 |
U.S. GARP Equity Fund | — | (6) | 6 |
U.S. Large Cap Core Plus Fund | 78,182 | 4,775 | (82,957) |
U.S. Research Enhanced Equity Fund | — | (522) | 522 |
U.S. Sustainable Leaders Fund | — | (11) | 11 |
U.S. Value Fund | — | (114) | 114 |
Equity Focus Fund | 0.50% |
Equity Income Fund | 0.40 |
Equity Index Fund | 0.04 |
Equity Premium Income Fund | 0.25 |
Hedged Equity Fund | 0.25 |
Hedged Equity 2 Fund | 0.25 |
Hedged Equity 3 Fund | 0.25 |
Large Cap Growth Fund | 0.45 |
Large Cap Value Fund | 0.40 |
U.S. Applied Data Science Value Fund | 0.30 |
U.S. Equity Fund | 0.40 |
U.S. GARP Equity Fund | 0.30 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 201 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
U.S. Large Cap Core Plus Fund | 0.65% |
U.S. Research Enhanced Equity Fund | 0.25 |
U.S. Sustainable Leaders Fund | 0.30 |
U.S. Value Fund | 0.40 |
Class A | Class C | Class R2 | Class R3 | |
Equity Focus Fund | 0.25% | 0.75% | n/a | n/a |
Equity Income Fund | 0.25 | 0.75 | 0.50% | 0.25% |
Equity Index Fund | 0.25 | 0.75 | n/a | n/a |
Equity Premium Income Fund | 0.25 | 0.75 | n/a | n/a |
Hedged Equity Fund | 0.25 | 0.75 | n/a | n/a |
Hedged Equity 2 Fund | 0.25 | 0.75 | n/a | n/a |
Hedged Equity 3 Fund | 0.25 | 0.75 | n/a | n/a |
Large Cap Growth Fund | 0.25 | 0.75 | 0.50 | 0.25 |
Large Cap Value Fund | 0.25 | 0.75 | 0.50 | 0.25 |
U.S. Applied Data Science Value Fund | 0.25 | 0.75 | 0.50 | n/a |
U.S. Equity Fund | 0.25 | 0.75 | 0.50 | 0.25 |
U.S. GARP Equity Fund | 0.25 | 0.75 | 0.50 | n/a |
U.S. Large Cap Core Plus Fund | 0.25 | 0.75 | 0.50 | n/a |
U.S. Research Enhanced Equity Fund | 0.25 | n/a | n/a | n/a |
U.S. Sustainable Leaders Fund | 0.25 | 0.75 | n/a | n/a |
U.S. Value Fund | 0.25 | 0.75 | 0.50 | 0.25 |
Front-End Sales Charge | CDSC | |
Equity Focus Fund | $8 | $— |
Equity Income Fund | 330 | 2 |
Equity Index Fund | 40 | — |
Equity Premium Income Fund | 676 | —(a) |
202 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Front-End Sales Charge | CDSC | |
Hedged Equity Fund | $38 | $—(a) |
Hedged Equity 2 Fund | 192 | —(a) |
Hedged Equity 3 Fund | 79 | — |
Large Cap Growth Fund | 527 | 2 |
Large Cap Value Fund | 58 | —(a) |
U.S. Applied Data Science Value Fund | 1 | — |
U.S. Equity Fund | 248 | 1 |
U.S. GARP Equity Fund | 5 | — |
U.S. Large Cap Core Plus Fund | 16 | —(a) |
U.S. Research Enhanced Equity Fund | —(a) | — |
U.S. Sustainable Leaders Fund | 13 | — |
U.S. Value Fund | 178 | — |
(a) | Amount rounds to less than one thousand. |
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | |
Equity Focus Fund | 0.25% | 0.25% | 0.25% | n/a | n/a | n/a | n/a | n/a |
Equity Income Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25% | 0.25% | 0.25% | 0.10% |
Equity Index Fund | 0.25 | 0.25 | 0.25 | n/a | n/a | n/a | n/a | n/a |
Equity Premium Income Fund | 0.25 | 0.25 | 0.25 | n/a | n/a | n/a | n/a | 0.10 |
Hedged Equity Fund | 0.25 | 0.25 | 0.25 | n/a | n/a | n/a | n/a | 0.10 |
Hedged Equity 2 Fund | 0.25 | 0.25 | 0.25 | n/a | n/a | n/a | n/a | 0.10 |
Hedged Equity 3 Fund | 0.25 | 0.25 | 0.25 | n/a | n/a | n/a | n/a | 0.10 |
Large Cap Growth Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | 0.25 | 0.25 | 0.10 |
Large Cap Value Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | 0.25 | 0.25 | 0.10 |
U.S. Applied Data Science Value Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | n/a | n/a | 0.10 |
U.S. Equity Fund | 0.25 | 0.25 | 0.25 | 0.10% | 0.25 | 0.25 | 0.25 | 0.10 |
U.S. GARP Equity Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | n/a | n/a | 0.10 |
U.S. Large Cap Core Plus Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | n/a | n/a | 0.10 |
U.S. Research Enhanced Equity Fund | 0.25 | n/a | 0.25 | n/a | n/a | n/a | n/a | n/a |
U.S. Sustainable Leaders Fund | 0.25 | 0.25 | 0.25 | n/a | n/a | n/a | n/a | n/a |
U.S. Value Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | 0.25 | 0.25 | 0.10 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 203 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | |
Equity Focus Fund | 1.10% | 1.60% | 0.85% | n/a | n/a | n/a | n/a | n/a | 0.60% |
Equity Index Fund | 0.45 | n/a | 0.20 | n/a | n/a | n/a | n/a | n/a | 0.05 |
Equity Premium Income Fund | 0.85 | 1.35 | 0.60 | n/a | n/a | n/a | n/a | 0.45% | 0.35 |
Hedged Equity Fund | 0.85 | 1.35 | 0.60 | n/a | n/a | n/a | n/a | 0.45 | 0.35 |
Hedged Equity 2 Fund | 0.85 | 1.35 | 0.60 | n/a | n/a | n/a | n/a | 0.45 | 0.35 |
Hedged Equity 3 Fund | 0.85 | 1.35 | 0.60 | n/a | n/a | n/a | n/a | 0.45 | 0.35 |
Large Cap Growth Fund | 0.94 | 1.44 | 0.69 | n/a | 1.19% | 0.94% | 0.69% | 0.54 | 0.44 |
Large Cap Value Fund | 0.93 | 1.44 | 0.69 | n/a | 1.19 | 0.94 | 0.69 | 0.54 | 0.44 |
U.S. Applied Data Science Value Fund | 0.73 | 1.23 | 0.49 | n/a | 1.09 | n/a | n/a | 0.44 | 0.34 |
U.S. Equity Fund | 0.94 | 1.44 | 0.69 | n/a | 1.19 | 0.94 | 0.69 | 0.54 | 0.44 |
U.S. GARP Equity Fund | 0.84 | 1.34 | 0.59 | n/a | 1.09 | n/a | n/a | 0.44 | 0.34 |
U.S. Large Cap Core Plus Fund | 1.10 | 1.60 | 0.85 | n/a | 1.45 | n/a | n/a | 0.80 | 0.70 |
U.S. Research Enhanced Equity Fund | 0.60 | n/a | 0.35 | n/a | n/a | n/a | n/a | n/a | 0.25 |
U.S. Sustainable Leaders Fund | 0.64 | 1.14 | 0.39 | n/a | n/a | n/a | n/a | n/a | 0.34 |
U.S. Value Fund | 0.94 | 1.44 | 0.69 | n/a | 1.19 | 0.94 | 0.69 | 0.54 | 0.44 |
Contractual Waivers | |||||
Investment Advisory Fees | Administration Fees | Service Fees | Total | Contractual Reimbursements | |
Equity Focus Fund | $78 | $52 | $3 | $133 | $— |
Equity Income Fund | 49 | — | — | 49 | — |
Equity Index Fund | 2,883 | 3,367 | 2,200 | 8,450 | 42 |
Equity Premium Income Fund | 294 | 197 | 43 | 534 | — |
Hedged Equity 2 Fund | 433 | 288 | 34 | 755 | 74 |
Hedged Equity 3 Fund | 334 | 222 | 17 | 573 | 72 |
Large Cap Growth Fund | 14,417 | 9,579 | 307 | 24,303 | 15 |
Large Cap Value Fund | 1,169 | 777 | 318 | 2,264 | 18 |
U.S. Applied Data Science Value Fund | 176 | 117 | 204 | 497 | 1 |
U.S. Equity Fund | 3,863 | 2,562 | 193 | 6,618 | 126 |
U.S. GARP Equity Fund | 442 | 294 | 38 | 774 | — |
U.S. Large Cap Core Plus Fund | 572 | 382 | 1,941 | 2,895 | 4 |
U.S. Research Enhanced Equity Fund | 3,141 | 2,092 | 1,344 | 6,577 | — |
U.S. Sustainable Leaders Fund | 194 | 118 | 289 | 601 | 1 |
U.S. Value Fund | 885 | 591 | 130 | 1,606 | 6 |
204 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Equity Focus Fund | $5 |
Equity Income Fund | 1,025 |
Equity Index Fund | 41 |
Equity Premium Income Fund | 46 |
Hedged Equity Fund | 201 |
Hedged Equity 2 Fund | 52 |
Hedged Equity 3 Fund | 23 |
Large Cap Growth Fund | 1,737 |
Large Cap Value Fund | 74 |
U.S. Applied Data Science Value Fund | 4 |
U.S. Equity Fund | 290 |
U.S. GARP Equity Fund | 23 |
U.S. Large Cap Core Plus Fund | 23 |
U.S. Research Enhanced Equity Fund | 77 |
U.S. Sustainable Leaders Fund | 3 |
U.S. Value Fund | 58 |
Equity Focus Fund | $1 |
Equity Income Fund | 4 |
Equity Index Fund | 1 |
Equity Premium Income Fund | 1 |
Hedged Equity Fund | 2 |
Hedged Equity 2 Fund | 1 |
Hedged Equity 3 Fund | 1 |
Large Cap Growth Fund | 3 |
Large Cap Value Fund | 1 |
U.S. Applied Data Science Value Fund | 1 |
U.S. Equity Fund | 2 |
U.S. GARP Equity Fund | 1 |
U.S. Large Cap Core Plus Fund | 1 |
U.S. Research Enhanced Equity Fund | 1 |
U.S. Sustainable Leaders Fund | 1 |
U.S. Value Fund | 1 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 205 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | Securities Sold Short | Covers on Securities Sold Short | |
Equity Focus Fund | $107,772 | $42,643 | $— | $— |
Equity Income Fund | 9,055,249 | 7,311,657 | — | — |
Equity Index Fund | 2,376,625 | 808,923 | — | — |
Equity Premium Income Fund | 6,979,682 | 4,017,061 | — | — |
Hedged Equity Fund | 7,957,430 | 7,992,029 | — | — |
Hedged Equity 2 Fund | 6,157,432 | 1,415,379 | — | — |
Hedged Equity 3 Fund | 3,019,470 | 564,439 | — | — |
Large Cap Growth Fund | 19,176,683 | 17,791,454 | — | — |
Large Cap Value Fund | 4,055,201 | 5,043,730 | — | — |
U.S. Applied Data Science Value Fund | 127,734 | 192,653 | — | — |
U.S. Equity Fund | 11,233,140 | 10,782,010 | — | — |
U.S. GARP Equity Fund | 530,484 | 674,999 | — | — |
U.S. Large Cap Core Plus Fund | 1,722,557 | 2,747,770 | 707,758 | 939,639 |
U.S. Research Enhanced Equity Fund | 4,252,502 | 1,787,642 | — | — |
U.S. Sustainable Leaders Fund | 176,121 | 68,297 | — | — |
U.S. Value Fund | 1,747,057 | 481,592 | — | — |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Equity Focus Fund | $161,067 | $31,095 | $7,565 | $23,530 |
Equity Income Fund | 34,315,987 | 12,234,840 | 628,538 | 11,606,302 |
Equity Index Fund | 4,462,824 | 2,885,890 | 95,718 | 2,790,172 |
Equity Premium Income Fund | 3,680,731 | 107,987 | 202,179 | (94,192) |
Hedged Equity Fund | 13,316,813 | 3,291,011 | 506,772 | 2,784,239 |
Hedged Equity 2 Fund | 6,448,621 | 268,797 | 984,841 | (716,044) |
Hedged Equity 3 Fund | 3,149,311 | 153,596 | 491,399 | (337,803) |
Large Cap Growth Fund | 26,317,283 | 6,768,410 | 1,748,864 | 5,019,546 |
Large Cap Value Fund | 3,087,853 | 260,492 | 151,822 | 108,670 |
U.S. Applied Data Science Value Fund | 179,612 | 31,619 | 14,826 | 16,793 |
U.S. Equity Fund | 13,579,635 | 5,741,579 | 749,323 | 4,992,256 |
U.S. GARP Equity Fund | 727,827 | 343,969 | 97,920 | 246,049 |
U.S. Large Cap Core Plus Fund * | 860,205 | 820,980 | 46,497 | 774,483 |
U.S. Research Enhanced Equity Fund | 5,374,043 | 1,550,141 | 210,912 | 1,339,229 |
U.S. Sustainable Leaders Fund | 190,493 | 11,017 | 18,762 | (7,745) |
U.S. Value Fund | 2,503,732 | 383,360 | 83,810 | 299,550 |
* | The tax cost includes the proceeds from short sales which may result in a net negative cost. |
206 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
Equity Focus Fund | $3,204 | $11,588 | $14,792 |
Equity Income Fund | 952,443 | 828,643 | 1,781,086 |
Equity Index Fund | 174,683 | 31,719 | 206,402 |
Equity Premium Income Fund | 210,426 | — | 210,426 |
Hedged Equity Fund | 137,046 | — | 137,046 |
Hedged Equity 2 Fund | 26,753 | — | 26,753 |
Hedged Equity 3 Fund | 14,723 | — | 14,723 |
Large Cap Growth Fund | 170,779 | 5,131,576 | 5,302,355 |
Large Cap Value Fund | 119,241 | 136,036 | 255,277 |
U.S. Applied Data Science Value Fund | 29,661 | 30,179 | 59,840 |
U.S. Equity Fund | 1,033,960 | 1,172,185 | 2,206,145 |
U.S. GARP Equity Fund | 79,836 | 162,626 | 242,462 |
U.S. Large Cap Core Plus Fund | 35,850 | 590,015 | 625,865 |
U.S. Research Enhanced Equity Fund | 200,946 | 503,243 | 704,189 |
U.S. Sustainable Leaders Fund | 3,652 | 3,400 | 7,052 |
U.S. Value Fund | 39,590 | 23,104 | 62,694 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
Equity Focus Fund | $3,392 | $8,409 | $11,801 |
Equity Income Fund | 662,251 | 1,579 | 663,830 |
Equity Index Fund | 98,321 | — | 98,321 |
Equity Premium Income Fund | 34,916 | — | 34,916 |
Hedged Equity Fund | 139,976 | — | 139,976 |
Hedged Equity 2 Fund | 1,117 | — | 1,117 |
Hedged Equity 3 Fund | 437 | — | 437 |
Large Cap Growth Fund | 178,186 | 1,429,918 | 1,608,104 |
Large Cap Value Fund | 18,876 | — | 18,876 |
U.S. Applied Data Science Value Fund | 6,606 | 2,039 | 8,645 |
U.S. Equity Fund | 297,885 | 870,370 | 1,168,255 |
U.S. GARP Equity Fund | 27,898 | 89,898 | 117,796 |
U.S. Large Cap Core Plus Fund | 96,118 | 663,685 | 759,803 |
U.S. Research Enhanced Equity Fund | 67,147 | 125,234 | 192,381 |
U.S. Sustainable Leaders Fund | 544 | 679 | 1,223 |
U.S. Value Fund | 14,336 | 11,801 | 26,137 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 207 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Current Distributable Ordinary Income | Current Distributable Long-Term Capital Gain (Tax Basis Capital Loss Carryover) | Unrealized Appreciation (Depreciation) | |
Equity Focus Fund | $206 | $2,417 | $23,530 |
Equity Income Fund | 27,042 | 505,149 | 11,606,302 |
Equity Index Fund | 3,190 | 1,125 | 2,790,119 |
Equity Premium Income Fund | 1,062 | (47,771) | (95,005) |
Hedged Equity Fund | 8,950 | (861,071) | 2,784,239 |
Hedged Equity 2 Fund | 77,470 | 165,303 | (716,044) |
Hedged Equity 3 Fund | 1,566 | 27,966 | (337,803) |
Large Cap Growth Fund | 26,416 | 1,931,740 | 5,019,546 |
Large Cap Value Fund | 3,768 | 142,798 | 108,670 |
U.S. Applied Data Science Value Fund | 2,437 | 3,786 | 16,793 |
U.S. Equity Fund | 6,324 | 729,341 | 4,992,256 |
U.S. GARP Equity Fund | 1,815 | 36,583 | 246,049 |
U.S. Large Cap Core Plus Fund | 42 | 349,184 | 774,483 |
U.S. Research Enhanced Equity Fund | 4,028 | 100,494 | 1,339,229 |
U.S. Sustainable Leaders Fund | 993 | — | (7,745) |
U.S. Value Fund | 3,905 | 7,967 | 299,550 |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
Equity Premium Income Fund | $47,771 * | $— |
Hedged Equity Fund | 380,233 | 480,838 |
Hedged Equity 2 Fund | 536* | 822* |
* | Amount includes capital loss carryforwards which are limited in future years under Internal Revenue Code sections 381-384. |
Net Capital Losses (Gains) | ||
Short-Term | Long-Term | |
Equity Focus Fund | $1,979 | $— |
Equity Income Fund | 88,541 | — |
Equity Premium Income Fund | 150,622 | 25,875 |
Large Cap Growth Fund | 884,057 | — |
Large Cap Value Fund | 5,618 | — |
U.S. Equity Fund | 326,507 | — |
U.S. GARP Equity Fund | 8,061 | — |
U.S. Large Cap Core Plus Fund | 100,964 | — |
U.S. Research Enhanced Equity Fund | 24,796 | — |
U.S. Sustainable Leaders Fund | 6,076 | 1,003 |
208 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Capital Loss Utilized | ||
Short-Term | Long-Term | |
Hedged Equity 2 Fund | $7,323 | $11,216 |
Hedged Equity 3 Fund | 4,543 | 7,246 |
Average Borrowings | Average Interest Rate paid | Number of Days Outstanding | Interest Paid | |
Equity Index Fund | $33,491 | 1.56% | 3 | $4 |
Hedged Equity Fund | 2,388 | 2.29 | 1 | —(a) |
Large Cap Value Fund | 47,781 | 0.81 | 1 | 1 |
(a) | Amount rounds to less than one thousand. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 209 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Number of Individual Shareholder and/or Affiliated Omnibus Accounts | % of the Fund | Number of Individual Shareholder and/or Non-Affiliated Omnibus Accounts | % of the Fund | |
Equity Focus Fund | 1 | 44.6% | 2 | 26.6% |
Equity Income Fund | 1 | 10.9 | 2 | 30.3 |
Equity Premium Income Fund | 1 | 47.7 | 1 | 12.4 |
Hedged Equity Fund | — | — | 2 | 38.9 |
Hedged Equity 2 Fund | 1 | 21.6 | 3 | 35.1 |
Hedged Equity 3 Fund | 1 | 17.3 | 4 | 44.9 |
Large Cap Growth Fund | — | — | 2 | 28.4 |
Large Cap Value Fund | 1 | 12.8 | 1 | 13.7 |
U.S. Applied Data Science Value Fund | — | — | 3 | 34.4 |
U.S. Equity Fund | — | — | 1 | 12.8 |
U.S. GARP Equity Fund | 3 | 46.9 | — | — |
U.S. Large Cap Core Plus Fund | 1 | 29.8 | — | — |
U.S. Research Enhanced Equity Fund | 1 | 11.2 | 1 | 11.5 |
U.S. Sustainable Leaders Fund | — | — | 4 | 55.8 |
U.S. Value Fund | — | — | 1 | 23.2 |
J.P. Morgan Investor Funds | JPMorgan SmartRetirement Funds | JPMorgan SmartRetirement Blend Funds | |
Equity Index Fund | —% | —% | 58.6% |
Large Cap Value Fund | 27.5 | — | — |
U.S. Equity Fund | — | 18.4 | — |
U.S. GARP Equity Fund | 56.8 | — | — |
U.S. Research Enhanced Equity Fund | 12.3 | 51.5 | — |
210 | J.P. Morgan Large Cap Funds | June 30, 2022 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 211 |
JPMorgan Equity Focus Fund* |
JPMorgan Equity Income Fund* |
JPMorgan Equity Index Fund* |
JPMorgan Equity Premium Income Fund* |
JPMorgan Hedged Equity Fund* |
JPMorgan Hedged Equity 2 Fund** |
JPMorgan Hedged Equity 3 Fund** |
JPMorgan Large Cap Growth Fund* |
JPMorgan Large Cap Value Fund* |
JPMorgan U.S. Applied Data Science Value Fund* |
JPMorgan U.S. Equity Fund* |
JPMorgan U.S. GARP Equity Fund* |
JPMorgan U.S. Large Cap Core Plus Fund*** |
JPMorgan U.S. Research Enhanced Equity Fund* |
JPMorgan U.S. Sustainable Leaders Fund* |
JPMorgan U.S. Value Fund* |
* | Statement of operations for the year ended June 30, 2022 and statement of changes in net assets for the years ended June 30, 2022 and 2021 |
** | Statement of operations for the year ended June 30, 2022 and statement of changes in net assets for the year ended June 30, 2022 and for the period February 26, 2021 (commencement of operations) through June 30, 2021 |
*** | Statement of operations and statement of cash flows for the year ended June 30, 2022 and statement of changes in net assets for the years ended June 30, 2022 and 2021 |
212 | J.P. Morgan Large Cap Funds | June 30, 2022 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 213 |
(Unaudited)
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 167 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present) |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered brokerdealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 167 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 167 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 167 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America U.S. Holdings (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 167 | None |
214 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 167 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director & Chief Investment Officer, IBM Retirement Funds (2007-2016). | 167 | Advisory Board Member, Penso Advisors LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 167 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 167 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 167 | None |
Marilyn McCoy (1948); Trustee since 2005. | Vice President of Administration and Planning, Northwestern University (1985-present). | 167 | None |
June 30, 2022 | J.P. Morgan Large Cap Funds | 215 |
(Unaudited) (continued)
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Dr. Robert A. Oden, Jr. (1946); Trustee since 2005. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 167 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 167 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2022. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 167 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of the Global ETF Business for JPMorgan Asset Management (2013-2017); Head of the Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 167 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 167 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the Mutual Fund Board, the ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board’s current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (167 J.P. Morgan Funds). |
216 | J.P. Morgan Large Cap Funds | June 30, 2022 |
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. | ||
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 217 |
(Unaudited)
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2016)* | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2018) | Executive Director, J.P. Morgan Investment Management Inc. since February 2016. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2019) (formerly Assistant Secretary 2010-2019)** | Managing Director and Assistant General Counsel, JPMorgan Chase. Mr. Samuels has been with JPMorgan Chase since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2005) | Managing Director, JPMorgan Chase & Co.; Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021)** | Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 to June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)*** | Vice President and Assistant General Counsel, JPMorgan Chase since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Elizabeth A. Davin (1964), Assistant Secretary (2005)*** | Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Davin has been with JPMorgan Chase (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2005)*** | Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Ditullio has been with JPMorgan Chase (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2018)** | Vice President and Assistant General Counsel, JPMorgan Chase since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2011)** | Executive Director and Assistant General Counsel, JPMorgan Chase. Mr. Lekstutis has been with JPMorgan Chase since 2011. |
Max Vogel (1990), Assistant Secretary (2021)** | Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021; Associate, Stroock & Stroock & Lavan LLP (law firm) from October 2015 to March 2017. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017)** | Vice President and Assistant General Counsel, JPMorgan Chase since September 2016. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2012) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2019) | Vice President, J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2018)*** | Vice President, J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2017)*** | Vice President, J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2020) | Vice President, J.P. Morgan Investment Management Inc. since 2014. |
Joseph Parascondola (1963), Assistant Treasurer (2011)* | Executive Director, J.P. Morgan Investment Management, Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2012) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since 2012. |
218 | J.P. Morgan Large Cap Funds | June 30, 2022 |
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
** | The contact address for the officer is 4 New York Plaza, New York, NY 10004. |
*** | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
June 30, 2022 | J.P. Morgan Large Cap Funds | 219 |
(Unaudited)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Equity Focus Fund | ||||
Class A | ||||
Actual | $1,000.00 | $834.70 | $5.00 | 1.10% |
Hypothetical | 1,000.00 | 1,019.34 | 5.51 | 1.10 |
Class C | ||||
Actual | 1,000.00 | 832.70 | 7.27 | 1.60 |
Hypothetical | 1,000.00 | 1,016.86 | 8.00 | 1.60 |
Class I | ||||
Actual | 1,000.00 | 835.80 | 3.87 | 0.85 |
Hypothetical | 1,000.00 | 1,020.58 | 4.26 | 0.85 |
Class R6 | ||||
Actual | 1,000.00 | 836.70 | 2.73 | 0.60 |
Hypothetical | 1,000.00 | 1,021.82 | 3.01 | 0.60 |
JPMorgan Equity Income Fund | ||||
Class A | ||||
Actual | 1,000.00 | 910.70 | 4.50 | 0.95 |
Hypothetical | 1,000.00 | 1,020.08 | 4.76 | 0.95 |
Class C | ||||
Actual | 1,000.00 | 908.20 | 6.86 | 1.45 |
Hypothetical | 1,000.00 | 1,017.60 | 7.25 | 1.45 |
Class I | ||||
Actual | 1,000.00 | 911.40 | 3.32 | 0.70 |
Hypothetical | 1,000.00 | 1,021.32 | 3.51 | 0.70 |
Class R2 | ||||
Actual | 1,000.00 | 909.50 | 5.73 | 1.21 |
Hypothetical | 1,000.00 | 1,018.79 | 6.06 | 1.21 |
220 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Equity Income Fund (continued) | ||||
Class R3 | ||||
Actual | $1,000.00 | $910.30 | $4.50 | 0.95% |
Hypothetical | 1,000.00 | 1,020.08 | 4.76 | 0.95 |
Class R4 | ||||
Actual | 1,000.00 | 911.40 | 3.32 | 0.70 |
Hypothetical | 1,000.00 | 1,021.32 | 3.51 | 0.70 |
Class R5 | ||||
Actual | 1,000.00 | 912.20 | 2.61 | 0.55 |
Hypothetical | 1,000.00 | 1,022.07 | 2.76 | 0.55 |
Class R6 | ||||
Actual | 1,000.00 | 912.60 | 2.13 | 0.45 |
Hypothetical | 1,000.00 | 1,022.56 | 2.26 | 0.45 |
JPMorgan Equity Index Fund | ||||
Class A | ||||
Actual | 1,000.00 | 798.70 | 2.01 | 0.45 |
Hypothetical | 1,000.00 | 1,022.56 | 2.26 | 0.45 |
Class C | ||||
Actual | 1,000.00 | 796.30 | 4.68 | 1.05 |
Hypothetical | 1,000.00 | 1,019.59 | 5.26 | 1.05 |
Class I | ||||
Actual | 1,000.00 | 799.50 | 0.89 | 0.20 |
Hypothetical | 1,000.00 | 1,023.80 | 1.00 | 0.20 |
Class R6 | ||||
Actual | 1,000.00 | 800.20 | 0.22 | 0.05 |
Hypothetical | 1,000.00 | 1,024.55 | 0.25 | 0.05 |
JPMorgan Equity Premium Income Fund | ||||
Class A | ||||
Actual | 1,000.00 | 911.10 | 4.03 | 0.85 |
Hypothetical | 1,000.00 | 1,020.58 | 4.26 | 0.85 |
Class C | ||||
Actual | 1,000.00 | 908.90 | 6.39 | 1.35 |
Hypothetical | 1,000.00 | 1,018.10 | 6.76 | 1.35 |
Class I | ||||
Actual | 1,000.00 | 912.90 | 2.85 | 0.60 |
Hypothetical | 1,000.00 | 1,021.82 | 3.01 | 0.60 |
Class R5 | ||||
Actual | 1,000.00 | 912.90 | 2.13 | 0.45 |
Hypothetical | 1,000.00 | 1,022.56 | 2.26 | 0.45 |
Class R6 | ||||
Actual | 1,000.00 | 914.00 | 1.66 | 0.35 |
Hypothetical | 1,000.00 | 1,023.06 | 1.76 | 0.35 |
JPMorgan Hedged Equity Fund | ||||
Class A | ||||
Actual | 1,000.00 | 902.40 | 3.92 | 0.83 |
Hypothetical | 1,000.00 | 1,020.68 | 4.16 | 0.83 |
Class C | ||||
Actual | 1,000.00 | 900.40 | 6.27 | 1.33 |
Hypothetical | 1,000.00 | 1,018.20 | 6.66 | 1.33 |
Class I | ||||
Actual | 1,000.00 | 903.80 | 2.74 | 0.58 |
Hypothetical | 1,000.00 | 1,021.92 | 2.91 | 0.58 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 221 |
(Unaudited) (continued)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Hedged Equity Fund (continued) | ||||
Class R5 | ||||
Actual | $1,000.00 | $904.30 | $2.03 | 0.43% |
Hypothetical | 1,000.00 | 1,022.66 | 2.16 | 0.43 |
Class R6 | ||||
Actual | 1,000.00 | 904.80 | 1.56 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
JPMorgan Hedged Equity 2 Fund | ||||
Class A | ||||
Actual | 1,000.00 | 872.90 | 3.95 | 0.85 |
Hypothetical | 1,000.00 | 1,020.58 | 4.26 | 0.85 |
Class C | ||||
Actual | 1,000.00 | 870.70 | 6.26 | 1.35 |
Hypothetical | 1,000.00 | 1,018.10 | 6.76 | 1.35 |
Class I | ||||
Actual | 1,000.00 | 874.10 | 2.79 | 0.60 |
Hypothetical | 1,000.00 | 1,021.82 | 3.01 | 0.60 |
Class R5 | ||||
Actual | 1,000.00 | 874.20 | 2.09 | 0.45 |
Hypothetical | 1,000.00 | 1,022.56 | 2.26 | 0.45 |
Class R6 | ||||
Actual | 1,000.00 | 874.70 | 1.63 | 0.35 |
Hypothetical | 1,000.00 | 1,023.06 | 1.76 | 0.35 |
JPMorgan Hedged Equity 3 Fund | ||||
Class A | ||||
Actual | 1,000.00 | 851.30 | 3.90 | 0.85 |
Hypothetical | 1,000.00 | 1,020.58 | 4.26 | 0.85 |
Class C | ||||
Actual | 1,000.00 | 849.00 | 6.19 | 1.35 |
Hypothetical | 1,000.00 | 1,018.10 | 6.76 | 1.35 |
Class I | ||||
Actual | 1,000.00 | 852.00 | 2.76 | 0.60 |
Hypothetical | 1,000.00 | 1,021.82 | 3.01 | 0.60 |
Class R5 | ||||
Actual | 1,000.00 | 852.80 | 2.07 | 0.45 |
Hypothetical | 1,000.00 | 1,022.56 | 2.26 | 0.45 |
Class R6 | ||||
Actual | 1,000.00 | 853.10 | 1.61 | 0.35 |
Hypothetical | 1,000.00 | 1,023.06 | 1.76 | 0.35 |
JPMorgan Large Cap Growth Fund | ||||
Class A | ||||
Actual | 1,000.00 | 730.90 | 4.03 | 0.94 |
Hypothetical | 1,000.00 | 1,020.13 | 4.71 | 0.94 |
Class C | ||||
Actual | 1,000.00 | 729.20 | 6.17 | 1.44 |
Hypothetical | 1,000.00 | 1,017.65 | 7.20 | 1.44 |
Class I | ||||
Actual | 1,000.00 | 731.80 | 2.96 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class R2 | ||||
Actual | 1,000.00 | 729.90 | 5.10 | 1.19 |
Hypothetical | 1,000.00 | 1,018.89 | 5.96 | 1.19 |
222 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Large Cap Growth Fund (continued) | ||||
Class R3 | ||||
Actual | $1,000.00 | $731.00 | $4.03 | 0.94% |
Hypothetical | 1,000.00 | 1,020.13 | 4.71 | 0.94 |
Class R4 | ||||
Actual | 1,000.00 | 731.90 | 2.96 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class R5 | ||||
Actual | 1,000.00 | 732.30 | 2.32 | 0.54 |
Hypothetical | 1,000.00 | 1,022.12 | 2.71 | 0.54 |
Class R6 | ||||
Actual | 1,000.00 | 732.70 | 1.89 | 0.44 |
Hypothetical | 1,000.00 | 1,022.61 | 2.21 | 0.44 |
JPMorgan Large Cap Value Fund | ||||
Class A | ||||
Actual | 1,000.00 | 930.30 | 4.45 | 0.93 |
Hypothetical | 1,000.00 | 1,020.18 | 4.66 | 0.93 |
Class C | ||||
Actual | 1,000.00 | 928.00 | 6.88 | 1.44 |
Hypothetical | 1,000.00 | 1,017.65 | 7.20 | 1.44 |
Class I | ||||
Actual | 1,000.00 | 931.50 | 3.30 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class R2 | ||||
Actual | 1,000.00 | 929.40 | 5.69 | 1.19 |
Hypothetical | 1,000.00 | 1,018.89 | 5.96 | 1.19 |
Class R3 | ||||
Actual | 1,000.00 | 930.10 | 4.50 | 0.94 |
Hypothetical | 1,000.00 | 1,020.13 | 4.71 | 0.94 |
Class R4 | ||||
Actual | 1,000.00 | 931.70 | 3.30 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class R5 | ||||
Actual | 1,000.00 | 932.50 | 2.59 | 0.54 |
Hypothetical | 1,000.00 | 1,022.12 | 2.71 | 0.54 |
Class R6 | ||||
Actual | 1,000.00 | 933.00 | 2.11 | 0.44 |
Hypothetical | 1,000.00 | 1,022.61 | 2.21 | 0.44 |
JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) | ||||
Class A | ||||
Actual | 1,000.00 | 884.70 | 3.41 | 0.73 |
Hypothetical | 1,000.00 | 1,021.18 | 3.66 | 0.73 |
Class C | ||||
Actual | 1,000.00 | 882.90 | 5.74 | 1.23 |
Hypothetical | 1,000.00 | 1,018.70 | 6.16 | 1.23 |
Class I | ||||
Actual | 1,000.00 | 885.90 | 2.29 | 0.49 |
Hypothetical | 1,000.00 | 1,022.37 | 2.46 | 0.49 |
Class R2 | ||||
Actual | 1,000.00 | 883.20 | 5.09 | 1.09 |
Hypothetical | 1,000.00 | 1,019.39 | 5.46 | 1.09 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 223 |
(Unaudited) (continued)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan U.S. Applied Data Science Value Fund (formerly known as JPMorgan Intrepid Value Fund) (continued) | ||||
Class R5 | ||||
Actual | $1,000.00 | $886.00 | $2.06 | 0.44% |
Hypothetical | 1,000.00 | 1,022.61 | 2.21 | 0.44 |
Class R6 | ||||
Actual | 1,000.00 | 886.50 | 1.59 | 0.34 |
Hypothetical | 1,000.00 | 1,023.11 | 1.71 | 0.34 |
JPMorgan U.S. Equity Fund | ||||
Class A | ||||
Actual | 1,000.00 | 797.20 | 4.19 | 0.94 |
Hypothetical | 1,000.00 | 1,020.13 | 4.71 | 0.94 |
Class C | ||||
Actual | 1,000.00 | 795.50 | 6.41 | 1.44 |
Hypothetical | 1,000.00 | 1,017.65 | 7.20 | 1.44 |
Class I | ||||
Actual | 1,000.00 | 798.10 | 3.08 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class L | ||||
Actual | 1,000.00 | 799.20 | 2.41 | 0.54 |
Hypothetical | 1,000.00 | 1,022.12 | 2.71 | 0.54 |
Class R2 | ||||
Actual | 1,000.00 | 796.20 | 5.30 | 1.19 |
Hypothetical | 1,000.00 | 1,018.89 | 5.96 | 1.19 |
Class R3 | ||||
Actual | 1,000.00 | 797.60 | 4.19 | 0.94 |
Hypothetical | 1,000.00 | 1,020.13 | 4.71 | 0.94 |
Class R4 | ||||
Actual | 1,000.00 | 798.20 | 3.08 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class R5 | ||||
Actual | 1,000.00 | 798.80 | 2.41 | 0.54 |
Hypothetical | 1,000.00 | 1,022.12 | 2.71 | 0.54 |
Class R6 | ||||
Actual | 1,000.00 | 799.30 | 1.96 | 0.44 |
Hypothetical | 1,000.00 | 1,022.61 | 2.21 | 0.44 |
JPMorgan U.S. GARP Equity Fund | ||||
Class A | ||||
Actual | 1,000.00 | 730.40 | 3.60 | 0.84 |
Hypothetical | 1,000.00 | 1,020.63 | 4.21 | 0.84 |
Class C | ||||
Actual | 1,000.00 | 728.70 | 5.74 | 1.34 |
Hypothetical | 1,000.00 | 1,018.15 | 6.71 | 1.34 |
Class I | ||||
Actual | 1,000.00 | 731.40 | 2.53 | 0.59 |
Hypothetical | 1,000.00 | 1,021.87 | 2.96 | 0.59 |
Class R2 | ||||
Actual | 1,000.00 | 729.60 | 4.67 | 1.09 |
Hypothetical | 1,000.00 | 1,019.39 | 5.46 | 1.09 |
Class R5 | ||||
Actual | 1,000.00 | 731.90 | 1.89 | 0.44 |
Hypothetical | 1,000.00 | 1,022.61 | 2.21 | 0.44 |
224 | J.P. Morgan Large Cap Funds | June 30, 2022 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan U.S. GARP Equity Fund (continued) | ||||
Class R6 | ||||
Actual | $1,000.00 | $732.40 | $1.46 | 0.34% |
Hypothetical | 1,000.00 | 1,023.11 | 1.71 | 0.34 |
JPMorgan U.S. Large Cap Core Plus Fund | ||||
Class A | ||||
Actual | 1,000.00 | 774.20 | 8.14 | 1.85 |
Hypothetical | 1,000.00 | 1,015.62 | 9.25 | 1.85 |
Class C | ||||
Actual | 1,000.00 | 772.10 | 10.33 | 2.35 |
Hypothetical | 1,000.00 | 1,013.14 | 11.73 | 2.35 |
Class I | ||||
Actual | 1,000.00 | 774.80 | 7.00 | 1.59 |
Hypothetical | 1,000.00 | 1,016.91 | 7.95 | 1.59 |
Class R2 | ||||
Actual | 1,000.00 | 772.30 | 9.67 | 2.20 |
Hypothetical | 1,000.00 | 1,013.89 | 10.99 | 2.20 |
Class R5 | ||||
Actual | 1,000.00 | 775.00 | 6.82 | 1.55 |
Hypothetical | 1,000.00 | 1,017.11 | 7.75 | 1.55 |
Class R6 | ||||
Actual | 1,000.00 | 775.20 | 6.38 | 1.45 |
Hypothetical | 1,000.00 | 1,017.60 | 7.25 | 1.45 |
JPMorgan U.S. Research Enhanced Equity Fund | ||||
Class A | ||||
Actual | 1,000.00 | 800.60 | 2.68 | 0.60 |
Hypothetical | 1,000.00 | 1,021.82 | 3.01 | 0.60 |
Class I | ||||
Actual | 1,000.00 | 801.70 | 1.56 | 0.35 |
Hypothetical | 1,000.00 | 1,023.06 | 1.76 | 0.35 |
Class R6 | ||||
Actual | 1,000.00 | 802.00 | 1.12 | 0.25 |
Hypothetical | 1,000.00 | 1,023.56 | 1.25 | 0.25 |
JPMorgan U.S. Sustainable Leaders Fund | ||||
Class A | ||||
Actual | 1,000.00 | 764.70 | 2.80 | 0.64 |
Hypothetical | 1,000.00 | 1,021.62 | 3.21 | 0.64 |
Class C | ||||
Actual | 1,000.00 | 763.00 | 4.98 | 1.14 |
Hypothetical | 1,000.00 | 1,019.14 | 5.71 | 1.14 |
Class I | ||||
Actual | 1,000.00 | 765.70 | 1.71 | 0.39 |
Hypothetical | 1,000.00 | 1,022.86 | 1.96 | 0.39 |
Class R6 | ||||
Actual | 1,000.00 | 765.90 | 1.49 | 0.34 |
Hypothetical | 1,000.00 | 1,023.11 | 1.71 | 0.34 |
JPMorgan U.S. Value Fund | ||||
Class A | ||||
Actual | 1,000.00 | 898.10 | 4.42 | 0.94 |
Hypothetical | 1,000.00 | 1,020.13 | 4.71 | 0.94 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 225 |
(Unaudited) (continued)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan U.S. Value Fund (continued) | ||||
Class C | ||||
Actual | $1,000.00 | $895.90 | $6.77 | 1.44% |
Hypothetical | 1,000.00 | 1,017.65 | 7.20 | 1.44 |
Class I | ||||
Actual | 1,000.00 | 899.20 | 3.25 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class R2 | ||||
Actual | 1,000.00 | 897.10 | 5.60 | 1.19 |
Hypothetical | 1,000.00 | 1,018.89 | 5.96 | 1.19 |
Class R3 | ||||
Actual | 1,000.00 | 898.10 | 4.42 | 0.94 |
Hypothetical | 1,000.00 | 1,020.13 | 4.71 | 0.94 |
Class R4 | ||||
Actual | 1,000.00 | 899.20 | 3.25 | 0.69 |
Hypothetical | 1,000.00 | 1,021.37 | 3.46 | 0.69 |
Class R5 | ||||
Actual | 1,000.00 | 899.90 | 2.54 | 0.54 |
Hypothetical | 1,000.00 | 1,022.12 | 2.71 | 0.54 |
Class R6 | ||||
Actual | 1,000.00 | 900.40 | 2.07 | 0.44 |
Hypothetical | 1,000.00 | 1,022.61 | 2.21 | 0.44 |
* | Expenses are equal to each Class’ respective annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
226 | J.P. Morgan Large Cap Funds | June 30, 2022 |
(Unaudited)
June 30, 2022 | J.P. Morgan Large Cap Funds | 227 |
(Unaudited)
(Dollar values in thousands)
Dividends Received Deduction | |
JPMorgan Equity Focus Fund | 47.52% |
JPMorgan Equity Income Fund | 100.00 |
JPMorgan Equity Index Fund | 58.49 |
JPMorgan Equity Premium Income Fund | 13.79 |
JPMorgan Hedged Equity Fund | 100.00 |
JPMorgan Hedged Equity 2 Fund | 100.00 |
JPMorgan Hedged Equity 3 Fund | 100.00 |
JPMorgan Large Cap Growth Fund | 100.00 |
JPMorgan Large Cap Value Fund | 47.88 |
JPMorgan U.S. Applied Data Science Value Fund | 15.54 |
JPMorgan U.S. Equity Fund | 23.94 |
JPMorgan U.S. GARP Equity Fund | 10.35 |
JPMorgan U.S. Large Cap Core Plus Fund | 90.67 |
JPMorgan U.S. Research Enhanced Equity Fund | 37.50 |
JPMorgan U.S. Sustainable Leaders Fund | 55.02 |
JPMorgan U.S. Value Fund | 100.00 |
Long-Term Capital Gain Distribution | |
JPMorgan Equity Focus Fund | $11,588 |
JPMorgan Equity Income Fund | 828,643 |
JPMorgan Equity Index Fund | 31,719 |
JPMorgan Large Cap Growth Fund | 5,131,576 |
JPMorgan Large Cap Value Fund | 136,036 |
JPMorgan U.S. Applied Data Science Value Fund | 33,907 |
JPMorgan U.S. Equity Fund | 1,172,185 |
JPMorgan U.S. GARP Equity Fund | 162,626 |
JPMorgan U.S. Large Cap Core Plus Fund | 668,216 |
Long-Term Capital Gain Distribution | |
JPMorgan U.S. Research Enhanced Equity Fund | $503,243 |
JPMorgan U.S. Sustainable Leaders Fund | 3,400 |
JPMorgan U.S. Value Fund | 23,104 |
Qualified Dividend Income | |
JPMorgan Equity Focus Fund | $1,527 |
JPMorgan Equity Income Fund | 952,442 |
JPMorgan Equity Index Fund | 105,414 |
JPMorgan Equity Premium Income Fund | 30,670 |
JPMorgan Hedged Equity Fund | 137,046 |
JPMorgan Hedged Equity 2 Fund | 26,754 |
JPMorgan Hedged Equity 3 Fund | 14,723 |
JPMorgan Large Cap Growth Fund | 170,779 |
JPMorgan Large Cap Value Fund | 59,004 |
JPMorgan U.S. Applied Data Science Value Fund | 4,800 |
JPMorgan U.S. Equity Fund | 256,865 |
JPMorgan U.S. GARP Equity Fund | 9,055 |
JPMorgan U.S. Large Cap Core Plus Fund | 34,979 |
JPMorgan U.S. Research Enhanced Equity Fund | 79,149 |
JPMorgan U.S. Sustainable Leaders Fund | 2,149 |
JPMorgan U.S. Value Fund | 39,590 |
June 30, 2022 | J.P. Morgan Large Cap Funds | 229 |
FACTS | WHAT DOES J.P. MORGAN FUNDS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
◾Social Security number and account balances | |
◾transaction history and account transactions | |
◾checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons J.P. Morgan Funds chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does J.P. Morgan Funds share? | Can you limit this sharing? |
For our everyday business purposes — such as to process your transactions, maintain your account(s),respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For marketing purposes — to offer our products and services to you | Yes | No |
For joint marketing with other financial companies | No | We don't share |
For our affiliates’ everyday business purposes — information about your transactions and experiences | No | We don't share |
For our affiliates’ everyday business purposes — information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 1-800-480-4111 or go to www.jpmorganfunds.com |
Page 2 |
Who we are | |
Who is providing this notice? | J.P. Morgan Funds |
What we do | |
How does J.P. Morgan Funds protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We authorize our employees to access your information only when they need it to do their work and we require companies that work for us to protect your information. |
How does J.P. Morgan Funds protect my personal information? | We collect your personal information, for example, when you: |
◾open an account or provide contact information | |
◾give us your account information or pay us by check | |
◾make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates and other companies. | |
Why can’t I limit all sharing? | Federal law gives you the right to limit only |
◾sharing for affiliates’ everyday business purposes – information about your creditworthiness | |
◾affiliates from using your information to market to you | |
◾sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
◾J.P. Morgan Funds does not share with our affiliates. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
◾J.P. Morgan Funds does not share with nonaffiliates so they can market to you. | |
Joint Marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
◾J.P. Morgan Funds doesn’t jointly market. |
JPMorgan SmartRetirement® Blend Income Fund |
JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpendingSM 2015 Fund) |
JPMorgan SmartRetirement® Blend 2020 Fund |
JPMorgan SmartRetirement® Blend 2025 Fund |
JPMorgan SmartRetirement® Blend 2030 Fund |
JPMorgan SmartRetirement® Blend 2035 Fund |
JPMorgan SmartRetirement® Blend 2040 Fund |
JPMorgan SmartRetirement® Blend 2045 Fund |
JPMorgan SmartRetirement® Blend 2050 Fund |
JPMorgan SmartRetirement® Blend 2055 Fund |
JPMorgan SmartRetirement® Blend 2060 Fund |
1 | |
2 | |
5 | |
18 | |
102 | |
132 | |
154 | |
190 | |
191 | |
195 | |
197 | |
202 | |
203 | |
Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets.
Prospective investors should refer to the Funds’ prospectuses for a discussion of the Funds’ investment objectives, strategies and risks. Call J.P. Morgan Funds Service Center at 1-800-480-4111 for a prospectus containing more complete information about a Fund, including management fees and other expenses. Please read it carefully before investing.
August 8, 2022 (Unaudited)
“It remains essential, in our view, that investors consider the potential benefits of portfolio diversification that adapts to near-term market conditions while cultivating long-term opportunities.” — Andrea L. Lisher |
Head of Americas, Client
J.P. Morgan Asset Management
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 1 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
Fund | Fund Return* | Broad Based Securities Market Index Return | Broad Based Securities Market Index Name | Fund Net Assets as of June 30, 2022 ($000) |
JPMorgan SmartRetirement® Blend Income Fund | (12.07)% | (9.75)% | S&P Target Date Retirement Income Index | 575,499 |
JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpendingSM 2015 Fund) | (11.99)% | (10.27)% | S&P Target Date 2015 Index | 26,604 |
JPMorgan SmartRetirement® Blend 2020 Fund | (12.10)% | (10.86)% | S&P Target Date 2020 Index | 1,038,902 |
JPMorgan SmartRetirement® Blend 2025 Fund | (13.28)% | (11.40)% | S&P Target Date 2025 Index | 1,835,987 |
JPMorgan SmartRetirement® Blend 2030 Fund | (14.12)% | (12.24)% | S&P Target Date 2030 Index | 2,193,231 |
JPMorgan SmartRetirement® Blend 2035 Fund | (14.58)% | (13.15)% | S&P Target Date 2035 Index | 2,062,189 |
JPMorgan SmartRetirement® Blend 2040 Fund | (15.01)% | (13.76)% | S&P Target Date 2040 Index | 1,820,490 |
JPMorgan SmartRetirement® Blend 2045 Fund | (15.32)% | (14.15)% | S&P Target Date 2045 Index | 1,469,479 |
JPMorgan SmartRetirement® Blend 2050 Fund | (15.38)% | (14.33)% | S&P Target Date 2050 Index | 1,114,330 |
JPMorgan SmartRetirement® Blend 2055 Fund | (15.31)% | (14.39)% | S&P Target Date 2055 Index | 620,642 |
JPMorgan SmartRetirement® Blend 2060 Fund | (15.24)% | (14.45)% | S&P Target Date 2060+ Index | 238,870 |
* | Returns for all Funds are based on Class R6 Shares. The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America. |
2 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Investment Companies | 40.6% |
Exchange-Traded Funds | 30.4 |
Corporate Bonds | 6.1 |
Asset-Backed Securities | 4.7 |
Mortgage-Backed Securities | 4.3 |
U.S. Treasury Obligations | 4.0 |
Collateralized Mortgage Obligations | 1.1 |
Others (each less than 1.0%) | 0.8 |
Short-Term Investments | 8.0 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Investment Companies | 39.2% |
Exchange-Traded Funds | 29.9 |
U.S. Treasury Obligations | 6.8 |
Corporate Bonds | 6.0 |
Mortgage-Backed Securities | 5.1 |
Asset-Backed Securities | 3.1 |
Others (each less than 1.0%) | 1.4 |
Short-Term Investments | 8.5 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Investment Companies | 40.8% |
Exchange-Traded Funds | 30.1 |
Corporate Bonds | 6.0 |
Asset-Backed Securities | 5.0 |
Mortgage-Backed Securities | 4.6 |
U.S. Treasury Obligations | 3.2 |
Collateralized Mortgage Obligations | 1.4 |
Others (each less than 1.0%) | 0.8 |
Short-Term Investments | 8.1 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Investment Companies | 44.8% |
Exchange-Traded Funds | 30.3 |
Corporate Bonds | 5.9 |
Mortgage-Backed Securities | 4.3 |
Asset-Backed Securities | 4.2 |
U.S. Treasury Obligations | 4.0 |
Collateralized Mortgage Obligations | 1.1 |
Others (each less than 1.0%) | 0.6 |
Short-Term Investments | 4.8 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Investment Companies | 49.3% |
Exchange-Traded Funds | 30.5 |
Corporate Bonds | 4.7 |
U.S. Treasury Obligations | 3.8 |
Asset-Backed Securities | 3.4 |
Mortgage-Backed Securities | 3.3 |
Others (each less than 1.0%) | 1.4 |
Short-Term Investments | 3.6 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Investment Companies | 58.1% |
Exchange-Traded Funds | 33.5 |
U.S. Treasury Obligations | 1.2 |
Corporate Bonds | 1.1 |
Others (each less than 1.0%) | 1.9 |
Short-Term Investments | 4.2 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 3 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
U.S. Equity | 48.8% |
International Equity | 30.3 |
Fixed Income | 15.1 |
Alternative Assets | 3.4 |
U.S. Treasury Obligations | 0.3 |
Short-Term Investments | 2.1 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
U.S. Equity | 53.1% |
International Equity | 32.9 |
Fixed Income | 7.5 |
Alternative Assets | 3.7 |
U.S. Treasury Obligations | 0.3 |
Short-Term Investments | 2.5 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
U.S. Equity | 54.1% |
International Equity | 33.4 |
Fixed Income | 6.1 |
Alternative Assets | 3.7 |
U.S. Treasury Obligations | 0.3 |
Short-Term Investments | 2.4 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
U.S. Equity | 53.7% |
International Equity | 33.8 |
Fixed Income | 6.1 |
Alternative Assets | 3.7 |
U.S. Treasury Obligations | 0.3 |
Short-Term Investments | 2.4 |
PORTFOLIO COMPOSITION BY ASSET CLASS AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
U.S. Equity | 51.8% |
International Equity | 33.4 |
Fixed Income | 5.9 |
Alternative Assets | 3.6 |
U.S. Treasury Obligations | 0.3 |
Short-Term Investments | 5.0 |
4 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 5 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
6 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (12.25)% | 2.75% | 3.90% |
Class R2 SHARES | July 2, 2012 | (12.71) | 2.23 | 3.42 |
Class R3 SHARES | May 31, 2017 | (12.48) | 2.48 | 3.70 |
Class R4 SHARES | May 31, 2017 | (12.30) | 2.74 | 3.96 |
Class R5 SHARES | July 2, 2012 | (12.18) | 2.89 | 4.07 |
Class R6 SHARES | July 2, 2012 | (12.07) | 3.00 | 4.16 |
7 |
(formerly known as JPMorgan SmartSpendingSM 2015 Fund)
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | December 30, 2016 | (12.22)% | 1.76% | 2.57% |
Class R2 SHARES | December 30, 2016 | (12.62) | 1.17 | 1.96 |
Class R3 SHARES | December 30, 2016 | (12.45) | 1.41 | 2.21 |
Class R4 SHARES | December 30, 2016 | (12.21) | 1.68 | 2.48 |
Class R5 SHARES | December 30, 2016 | (12.08) | 1.82 | 2.62 |
Class R6 SHARES | December 30, 2016 | (11.99) | 1.92 | 2.72 |
8 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (12.31)% | 3.18% | 5.21% |
Class R2 SHARES | July 2, 2012 | (12.71) | 2.66 | 4.73 |
Class R3 SHARES | May 31, 2017 | (12.53) | 2.92 | 5.01 |
Class R4 SHARES | May 31, 2017 | (12.25) | 3.18 | 5.28 |
Class R5 SHARES | July 2, 2012 | (12.19) | 3.33 | 5.39 |
Class R6 SHARES | July 2, 2012 | (12.10) | 3.43 | 5.47 |
9 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (13.48)% | 3.91% | 6.06% |
Class R2 SHARES | July 2, 2012 | (13.95) | 3.38 | 5.56 |
Class R3 SHARES | May 31, 2017 | (13.70) | 3.64 | 5.85 |
Class R4 SHARES | May 31, 2017 | (13.47) | 3.91 | 6.12 |
Class R5 SHARES | July 2, 2012 | (13.37) | 4.06 | 6.24 |
Class R6 SHARES | July 2, 2012 | (13.28) | 4.17 | 6.32 |
10 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (14.35)% | 4.52% | 6.78% |
Class R2 SHARES | July 2, 2012 | (14.78) | 3.99 | 6.29 |
Class R3 SHARES | May 31, 2017 | (14.58) | 4.25 | 6.57 |
Class R4 SHARES | May 31, 2017 | (14.35) | 4.51 | 6.83 |
Class R5 SHARES | July 2, 2012 | (14.25) | 4.67 | 6.96 |
Class R6 SHARES | July 2, 2012 | (14.12) | 4.78 | 7.04 |
11 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (14.78)% | 5.14% | 7.41% |
Class R2 SHARES | July 2, 2012 | (15.18) | 4.62 | 6.92 |
Class R3 SHARES | May 31, 2017 | (14.98) | 4.87 | 7.20 |
Class R4 SHARES | May 31, 2017 | (14.77) | 5.14 | 7.47 |
Class R5 SHARES | July 2, 2012 | (14.64) | 5.30 | 7.60 |
Class R6 SHARES | July 2, 2012 | (14.58) | 5.40 | 7.68 |
12 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (15.25)% | 5.59% | 7.84% |
Class R2 SHARES | July 2, 2012 | (15.68) | 5.06 | 7.35 |
Class R3 SHARES | May 31, 2017 | (15.44) | 5.32 | 7.64 |
Class R4 SHARES | May 31, 2017 | (15.26) | 5.59 | 7.91 |
Class R5 SHARES | July 2, 2012 | (15.10) | 5.75 | 8.03 |
Class R6 SHARES | July 2, 2012 | (15.01) | 5.86 | 8.11 |
13 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (15.55)% | 5.85% | 7.97% |
Class R2 SHARES | July 2, 2012 | (15.96) | 5.33 | 7.48 |
Class R3 SHARES | May 31, 2017 | (15.76) | 5.60 | 7.77 |
Class R4 SHARES | May 31, 2017 | (15.55) | 5.86 | 8.03 |
Class R5 SHARES | July 2, 2012 | (15.45) | 6.02 | 8.16 |
Class R6 SHARES | July 2, 2012 | (15.32) | 6.12 | 8.25 |
14 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (15.62)% | 5.90% | 8.00% |
Class R2 SHARES | July 2, 2012 | (16.03) | 5.37 | 7.51 |
Class R3 SHARES | May 31, 2017 | (15.83) | 5.64 | 7.80 |
Class R4 SHARES | May 31, 2017 | (15.60) | 5.90 | 8.07 |
Class R5 SHARES | July 2, 2012 | (15.47) | 6.06 | 8.19 |
Class R6 SHARES | July 2, 2012 | (15.38) | 6.16 | 8.27 |
15 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | July 2, 2012 | (15.52)% | 5.87% | 7.95% |
Class R2 SHARES | July 2, 2012 | (15.95) | 5.35 | 7.46 |
Class R3 SHARES | May 31, 2017 | (15.76) | 5.62 | 7.75 |
Class R4 SHARES | May 31, 2017 | (15.54) | 5.88 | 8.02 |
Class R5 SHARES | July 2, 2012 | (15.40) | 6.03 | 8.14 |
Class R6 SHARES | July 2, 2012 | (15.31) | 6.15 | 8.23 |
16 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
Class I SHARES | August 31, 2016 | (15.42)% | 5.96% | 7.04% |
Class R2 SHARES | August 31, 2016 | (15.88) | 5.41 | 6.49 |
Class R3 SHARES | May 31, 2017 | (15.67) | 5.67 | 6.76 |
Class R4 SHARES | May 31, 2017 | (15.48) | 5.93 | 7.02 |
Class R5 SHARES | August 31, 2016 | (15.34) | 6.11 | 7.19 |
Class R6 SHARES | August 31, 2016 | (15.24) | 6.21 | 7.29 |
17 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 40.1% | ||
Fixed Income — 16.5% | ||
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 7,094 | 52,847 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 1,724 | 10,017 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 832 | 6,866 |
JPMorgan High Yield Fund Class R6 Shares (a) | 4,110 | 25,275 |
Total Fixed Income | 95,005 | |
International Equity — 4.7% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 1,714 | 26,933 |
U.S. Equity — 18.9% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 1,918 | 108,970 |
Total Investment Companies (Cost $230,269) | 230,908 | |
Exchange-Traded Funds — 30.0% | ||
Alternative Assets — 1.5% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 102 | 8,939 |
Fixed Income — 15.0% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 72 | 3,123 |
JPMorgan Inflation Managed Bond ETF (a) | 896 | 43,296 |
JPMorgan U.S. Aggregate Bond ETF (a) | 828 | 39,718 |
Total Fixed Income | 86,137 | |
International Equity — 9.3% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 1,127 | 53,325 |
U.S. Equity — 4.2% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 189 | 13,153 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 222 | 11,193 |
Total U.S. Equity | 24,346 | |
Total Exchange-Traded Funds (Cost $179,001) | 172,747 | |
PRINCIPAL AMOUNT ($000) | ||
Corporate Bonds — 6.0% | ||
Aerospace & Defense — 0.2% | ||
Boeing Co. (The) | ||
2.50%, 3/1/2025 | 85 | 80 |
2.75%, 2/1/2026 | 30 | 28 |
2.20%, 2/4/2026 | 15 | 14 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Aerospace & Defense — continued | ||
2.70%, 2/1/2027 | 765 | 681 |
3.45%, 11/1/2028 | 63 | 56 |
Northrop Grumman Corp. | ||
5.15%, 5/1/2040 | 95 | 96 |
3.85%, 4/15/2045 | 80 | 67 |
Raytheon Technologies Corp. 2.25%, 7/1/2030 | 143 | 123 |
1,145 | ||
Airlines — 0.0% ^ | ||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 | 266 | 226 |
Automobiles — 0.1% | ||
General Motors Co. 6.80%, 10/1/2027 | 150 | 158 |
Hyundai Capital America | ||
1.15%, 11/10/2022 (b) | 363 | 360 |
1.30%, 1/8/2026 (b) | 40 | 36 |
554 | ||
Banks — 1.2% | ||
AIB Group plc (Ireland) 4.75%, 10/12/2023 (b) | 600 | 600 |
Banco Santander SA (Spain) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (c) | 200 | 174 |
2.75%, 12/3/2030 | 400 | 318 |
Bank of America Corp. | ||
(SOFR + 1.01%), 1.20%, 10/24/2026 (c) | 199 | 178 |
(SOFR + 1.05%), 2.55%, 2/4/2028 (c) | 80 | 73 |
(SOFR + 1.58%), 4.38%, 4/27/2028 (c) | 105 | 103 |
(SOFR + 1.33%), 2.97%, 2/4/2033 (c) | 110 | 94 |
(SOFR + 1.93%), 2.68%, 6/19/2041 (c) | 419 | 301 |
Bank of Ireland Group plc (Ireland) | ||
4.50%, 11/25/2023 (b) | 200 | 199 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (b) (c) | 200 | 174 |
Barclays plc (United Kingdom) 4.34%, 1/10/2028 | 200 | 191 |
BNP Paribas SA (France) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 2.59%, 8/12/2035 (b) (c) | 200 | 157 |
Citigroup, Inc. | ||
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 7/24/2028 (c) | 125 | 118 |
(ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (c) | 145 | 125 |
18 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Banks — continued | ||
Commonwealth Bank of Australia (Australia) 3.31%, 3/11/2041 (b) | 250 | 189 |
Credit Agricole SA (France) | ||
4.38%, 3/17/2025 (b) | 200 | 197 |
(SOFR + 0.89%), 1.25%, 1/26/2027 (b) (c) | 250 | 220 |
HSBC Holdings plc (United Kingdom) | ||
(SOFR + 1.29%), 1.59%, 5/24/2027 (c) | 200 | 176 |
(SOFR + 1.73%), 2.01%, 9/22/2028 (c) | 745 | 637 |
Intesa Sanpaolo SpA (Italy) Series XR, 3.25%, 9/23/2024 (b) | 200 | 194 |
Lloyds Banking Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.63%, 5/11/2027 (c) | 200 | 178 |
NatWest Group plc (United Kingdom) (ICE LIBOR USD 3 Month + 1.75%), 4.89%, 5/18/2029 (c) | 200 | 194 |
Santander UK Group Holdings plc (United Kingdom) (SOFR + 0.99%), 1.67%, 6/14/2027 (c) | 200 | 174 |
Societe Generale SA (France) | ||
4.25%, 4/14/2025 (b) | 400 | 392 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 6/9/2032 (b) | 245 | 196 |
Standard Chartered plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.17%), 1.32%, 10/14/2023 (b) (c) | 620 | 615 |
UniCredit SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (b) (c) | 200 | 173 |
Wells Fargo & Co. | ||
4.30%, 7/22/2027 | 580 | 574 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (c) | 110 | 102 |
Westpac Banking Corp. (Australia) | ||
2.96%, 11/16/2040 | 15 | 11 |
3.13%, 11/18/2041 | 80 | 59 |
7,086 | ||
Beverages — 0.1% | ||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.75%, 7/15/2042 | 365 | 295 |
Keurig Dr Pepper, Inc. 3.80%, 5/1/2050 | 98 | 78 |
373 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Biotechnology — 0.2% | ||
AbbVie, Inc. | ||
2.95%, 11/21/2026 | 95 | 90 |
3.20%, 11/21/2029 | 251 | 231 |
4.05%, 11/21/2039 | 200 | 178 |
4.25%, 11/21/2049 | 75 | 67 |
Amgen, Inc. 3.15%, 2/21/2040 | 175 | 138 |
Biogen, Inc. 2.25%, 5/1/2030 | 45 | 37 |
Gilead Sciences, Inc. 2.60%, 10/1/2040 | 108 | 79 |
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030 | 166 | 133 |
953 | ||
Building Products — 0.0% ^ | ||
Masco Corp. 2.00%, 10/1/2030 | 87 | 69 |
Capital Markets — 0.7% | ||
Brookfield Finance, Inc. (Canada) 3.50%, 3/30/2051 | 113 | 81 |
Credit Suisse AG (Switzerland) 3.70%, 2/21/2025 | 250 | 244 |
Credit Suisse Group AG (Switzerland) | ||
(SOFR + 0.98%), 1.31%, 2/2/2027 (b) (c) | 250 | 215 |
4.28%, 1/9/2028 (b) | 500 | 467 |
Deutsche Bank AG (Germany) (SOFR + 1.87%), 2.13%, 11/24/2026 (c) | 450 | 399 |
Goldman Sachs Group, Inc. (The) | ||
4.25%, 10/21/2025 | 688 | 682 |
(ICE LIBOR USD 3 Month + 1.51%), 3.69%, 6/5/2028 (c) | 287 | 272 |
Macquarie Group Ltd. (Australia) | ||
(SOFR + 1.07%), 1.34%, 1/12/2027 (b) (c) | 185 | 163 |
(SOFR + 1.53%), 2.87%, 1/14/2033 (b) (c) | 100 | 82 |
Morgan Stanley | ||
5.00%, 11/24/2025 | 377 | 383 |
3.13%, 7/27/2026 | 344 | 328 |
S&P Global, Inc. | ||
2.70%, 3/1/2029 (b) | 111 | 101 |
4.25%, 5/1/2029 (b) | 130 | 129 |
UBS Group AG (Switzerland) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 4.49%, 5/12/2026 (b) (c) | 200 | 199 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (b) (c) | 250 | 198 |
3,943 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 19 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Chemicals — 0.0% ^ | ||
DuPont de Nemours, Inc. 5.32%, 11/15/2038 | 84 | 83 |
LYB International Finance III LLC 1.25%, 10/1/2025 | 52 | 47 |
130 | ||
Construction & Engineering — 0.0% ^ | ||
Quanta Services, Inc. 2.35%, 1/15/2032 | 135 | 105 |
Consumer Finance — 0.4% | ||
AerCap Ireland Capital DAC (Ireland) | ||
3.15%, 2/15/2024 | 150 | 145 |
6.50%, 7/15/2025 | 150 | 154 |
4.63%, 10/15/2027 | 450 | 424 |
3.00%, 10/29/2028 | 150 | 126 |
Avolon Holdings Funding Ltd. (Ireland) | ||
2.88%, 2/15/2025 (b) | 78 | 72 |
5.50%, 1/15/2026 (b) | 290 | 281 |
2.13%, 2/21/2026 (b) | 60 | 52 |
4.25%, 4/15/2026 (b) | 10 | 9 |
2.53%, 11/18/2027 (b) | 383 | 312 |
Capital One Financial Corp. (SOFR + 1.27%), 2.62%, 11/2/2032 (c) | 85 | 68 |
General Motors Financial Co., Inc. 3.80%, 4/7/2025 | 100 | 98 |
Park Aerospace Holdings Ltd. (Ireland) | ||
4.50%, 3/15/2023 (b) | 295 | 294 |
5.50%, 2/15/2024 (b) | 22 | 22 |
2,057 | ||
Containers & Packaging — 0.0% ^ | ||
Graphic Packaging International LLC 1.51%, 4/15/2026 (b) | 99 | 89 |
Diversified Consumer Services — 0.0% ^ | ||
University of Miami Series 2022, 4.06%, 4/1/2052 | 40 | 36 |
Diversified Financial Services — 0.0% ^ | ||
Shell International Finance BV (Netherlands) 3.13%, 11/7/2049 | 86 | 66 |
Diversified Telecommunication Services — 0.1% | ||
AT&T, Inc. | ||
2.30%, 6/1/2027 | 233 | 213 |
3.50%, 6/1/2041 | 227 | 181 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Diversified Telecommunication Services — continued | ||
3.55%, 9/15/2055 | 152 | 114 |
Verizon Communications, Inc. 2.65%, 11/20/2040 | 79 | 58 |
566 | ||
Electric Utilities — 0.4% | ||
Duke Energy Indiana LLC Series YYY, 3.25%, 10/1/2049 | 43 | 33 |
Edison International 5.75%, 6/15/2027 | 70 | 71 |
Emera US Finance LP (Canada) 4.75%, 6/15/2046 | 92 | 81 |
Entergy Arkansas LLC 2.65%, 6/15/2051 | 36 | 25 |
Entergy Louisiana LLC | ||
4.00%, 3/15/2033 | 67 | 64 |
2.90%, 3/15/2051 | 20 | 14 |
Evergy, Inc. 2.90%, 9/15/2029 | 175 | 154 |
Fells Point Funding Trust 3.05%, 1/31/2027 (b) | 195 | 180 |
FirstEnergy Transmission LLC 4.55%, 4/1/2049 (b) | 80 | 64 |
Fortis, Inc. (Canada) 3.06%, 10/4/2026 | 110 | 103 |
ITC Holdings Corp. 2.95%, 5/14/2030 (b) | 53 | 47 |
Jersey Central Power & Light Co. 4.30%, 1/15/2026 (b) | 78 | 77 |
Massachusetts Electric Co. 4.00%, 8/15/2046 (b) | 34 | 28 |
New England Power Co. (United Kingdom) 2.81%, 10/6/2050 (b) | 111 | 75 |
NRG Energy, Inc. | ||
2.00%, 12/2/2025 (b) | 40 | 36 |
2.45%, 12/2/2027 (b) | 165 | 142 |
OGE Energy Corp. 0.70%, 5/26/2023 | 55 | 54 |
Pacific Gas and Electric Co. | ||
1.37%, 3/10/2023 | 225 | 222 |
1.70%, 11/15/2023 | 65 | 63 |
3.25%, 2/16/2024 | 170 | 166 |
3.45%, 7/1/2025 | 75 | 71 |
2.95%, 3/1/2026 | 137 | 124 |
3.75%, 8/15/2042 (d) | 41 | 28 |
4.30%, 3/15/2045 | 25 | 18 |
PacifiCorp 4.15%, 2/15/2050 | 53 | 48 |
PG&E Wildfire Recovery Funding LLC Series A-2, 4.26%, 6/1/2036 | 50 | 50 |
Southern California Edison Co. | ||
Series 20C, 1.20%, 2/1/2026 | 77 | 69 |
Series C, 4.13%, 3/1/2048 | 54 | 44 |
20 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
Union Electric Co. 3.90%, 4/1/2052 | 68 | 60 |
Vistra Operations Co. LLC 4.88%, 5/13/2024 (b) | 141 | 140 |
2,351 | ||
Entertainment — 0.1% | ||
Activision Blizzard, Inc. 1.35%, 9/15/2030 | 88 | 71 |
Take-Two Interactive Software, Inc. 3.70%, 4/14/2027 | 124 | 120 |
Walt Disney Co. (The) 3.50%, 5/13/2040 | 150 | 128 |
319 | ||
Equity Real Estate Investment Trusts (REITs) — 0.4% | ||
American Campus Communities Operating Partnership LP 2.25%, 1/15/2029 | 60 | 56 |
American Tower Corp. | ||
1.50%, 1/31/2028 | 65 | 54 |
1.88%, 10/15/2030 | 421 | 328 |
Brixmor Operating Partnership LP | ||
2.25%, 4/1/2028 | 70 | 60 |
2.50%, 8/16/2031 | 40 | 31 |
Corporate Office Properties LP 2.75%, 4/15/2031 | 113 | 91 |
Equinix, Inc. 2.90%, 11/18/2026 | 122 | 113 |
Healthcare Trust of America Holdings LP 2.00%, 3/15/2031 | 166 | 129 |
Healthpeak Properties, Inc. 2.13%, 12/1/2028 | 121 | 105 |
Life Storage LP 2.40%, 10/15/2031 | 110 | 88 |
Office Properties Income Trust 2.40%, 2/1/2027 | 140 | 114 |
Physicians Realty LP 2.63%, 11/1/2031 | 45 | 36 |
Realty Income Corp. 1.80%, 3/15/2033 | 115 | 88 |
Sabra Health Care LP 3.20%, 12/1/2031 | 80 | 64 |
Safehold Operating Partnership LP 2.85%, 1/15/2032 | 146 | 117 |
Scentre Group Trust 1 (Australia) 3.63%, 1/28/2026 (b) | 272 | 262 |
UDR, Inc. | ||
2.10%, 8/1/2032 | 167 | 130 |
1.90%, 3/15/2033 | 40 | 30 |
WP Carey, Inc. | ||
2.40%, 2/1/2031 | 71 | 58 |
2.25%, 4/1/2033 | 370 | 284 |
2,238 | ||
Food & Staples Retailing — 0.0% ^ | ||
7-Eleven, Inc. | ||
1.30%, 2/10/2028 (b) | 48 | 40 |
2.50%, 2/10/2041 (b) | 50 | 34 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Food & Staples Retailing — continued | ||
Alimentation Couche-Tard, Inc. (Canada) | ||
3.44%, 5/13/2041 (b) | 115 | 86 |
3.63%, 5/13/2051 (b) | 125 | 91 |
CVS Pass-Through Trust Series 2014, 4.16%, 8/11/2036 (b) | 37 | 35 |
286 | ||
Food Products — 0.1% | ||
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 64 | 53 |
Kraft Heinz Foods Co. | ||
4.63%, 10/1/2039 | 85 | 75 |
4.38%, 6/1/2046 | 47 | 39 |
Smithfield Foods, Inc. 3.00%, 10/15/2030 (b) | 179 | 148 |
315 | ||
Gas Utilities — 0.0% ^ | ||
Atmos Energy Corp. 2.85%, 2/15/2052 | 85 | 61 |
CenterPoint Energy Resources Corp. 1.75%, 10/1/2030 | 174 | 141 |
202 | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
Boston Scientific Corp. 4.55%, 3/1/2039 | 27 | 25 |
DH Europe Finance II SARL 3.25%, 11/15/2039 | 46 | 38 |
63 | ||
Health Care Providers & Services — 0.2% | ||
Banner Health 1.90%, 1/1/2031 | 100 | 83 |
Bon Secours Mercy Health, Inc. Series 20-2, 3.21%, 6/1/2050 | 65 | 49 |
CommonSpirit Health | ||
1.55%, 10/1/2025 | 30 | 28 |
2.78%, 10/1/2030 | 65 | 56 |
3.91%, 10/1/2050 | 25 | 20 |
Elevance Health, Inc. 2.25%, 5/15/2030 | 168 | 144 |
HCA, Inc. | ||
5.25%, 6/15/2026 | 378 | 376 |
3.50%, 7/15/2051 | 52 | 36 |
4.63%, 3/15/2052 (b) | 58 | 46 |
MedStar Health, Inc. Series 20A, 3.63%, 8/15/2049 | 70 | 58 |
MidMichigan Health Series 2020, 3.41%, 6/1/2050 | 15 | 12 |
MultiCare Health System 2.80%, 8/15/2050 | 46 | 33 |
PeaceHealth Obligated Group Series 2020, 3.22%, 11/15/2050 | 55 | 41 |
Piedmont Healthcare, Inc. 2.86%, 1/1/2052 | 85 | 61 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 21 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Health Care Providers & Services — continued | ||
Universal Health Services, Inc. 2.65%, 10/15/2030 (b) | 73 | 58 |
West Virginia United Health System Obligated Group Series 2020, 3.13%, 6/1/2050 | 160 | 117 |
1,218 | ||
Hotels, Restaurants & Leisure — 0.0% ^ | ||
Starbucks Corp. 3.35%, 3/12/2050 | 86 | 65 |
Household Durables — 0.0% ^ | ||
Lennar Corp. 4.50%, 4/30/2024 | 35 | 35 |
Independent Power and Renewable Electricity Producers — 0.1% | ||
Alexander Funding Trust 1.84%, 11/15/2023 (b) | 370 | 354 |
Southern Power Co. 5.15%, 9/15/2041 | 115 | 108 |
462 | ||
Industrial Conglomerates — 0.1% | ||
GE Capital International Funding Co. Unlimited Co. 4.42%, 11/15/2035 | 325 | 304 |
Insurance — 0.2% | ||
Athene Global Funding | ||
2.75%, 6/25/2024 (b) | 134 | 130 |
1.45%, 1/8/2026 (b) | 205 | 182 |
Berkshire Hathaway Finance Corp. 3.85%, 3/15/2052 | 65 | 56 |
Brown & Brown, Inc. 2.38%, 3/15/2031 | 168 | 133 |
Corebridge Financial, Inc. 3.85%, 4/5/2029 (b) | 40 | 37 |
Empower Finance 2020 LP (Canada) 3.08%, 9/17/2051 (b) | 136 | 97 |
New York Life Insurance Co. 3.75%, 5/15/2050 (b) | 178 | 145 |
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (b) | 75 | 66 |
Teachers Insurance & Annuity Association of America 3.30%, 5/15/2050 (b) | 169 | 129 |
975 | ||
Internet & Direct Marketing Retail — 0.0% ^ | ||
Amazon.com, Inc. 3.95%, 4/13/2052 | 120 | 111 |
IT Services — 0.0% ^ | ||
Global Payments, Inc. 3.20%, 8/15/2029 | 139 | 121 |
Machinery — 0.0% ^ | ||
Otis Worldwide Corp. 3.11%, 2/15/2040 | 115 | 89 |
Media — 0.1% | ||
Charter Communications Operating LLC | ||
2.80%, 4/1/2031 | 54 | 43 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Media — continued | ||
3.50%, 6/1/2041 | 50 | 35 |
3.50%, 3/1/2042 | 30 | 21 |
3.70%, 4/1/2051 | 174 | 118 |
Comcast Corp. | ||
3.25%, 11/1/2039 | 149 | 122 |
2.80%, 1/15/2051 | 104 | 74 |
Discovery Communications LLC 3.63%, 5/15/2030 | 74 | 66 |
479 | ||
Metals & Mining — 0.1% | ||
Anglo American Capital plc (South Africa) 3.63%, 9/11/2024 (b) | 200 | 196 |
Glencore Funding LLC (Australia) 2.50%, 9/1/2030 (b) | 158 | 129 |
Steel Dynamics, Inc. 1.65%, 10/15/2027 | 122 | 105 |
430 | ||
Multiline Retail — 0.0% ^ | ||
Nordstrom, Inc. 4.25%, 8/1/2031 | 142 | 108 |
Multi-Utilities — 0.0% ^ | ||
Berkshire Hathaway Energy Co. 2.85%, 5/15/2051 | 78 | 55 |
Consumers Energy Co. 3.25%, 8/15/2046 | 34 | 27 |
WEC Energy Group, Inc. 1.38%, 10/15/2027 | 84 | 73 |
155 | ||
Oil, Gas & Consumable Fuels — 0.4% | ||
Boardwalk Pipelines LP 4.45%, 7/15/2027 | 85 | 82 |
BP Capital Markets America, Inc. 2.77%, 11/10/2050 | 77 | 53 |
Coterra Energy, Inc. 3.90%, 5/15/2027 (b) | 65 | 62 |
Diamondback Energy, Inc. 3.25%, 12/1/2026 | 158 | 154 |
Energy Transfer LP | ||
4.40%, 3/15/2027 | 175 | 170 |
5.00%, 5/15/2044 (d) | 210 | 175 |
Enterprise Products Operating LLC 4.45%, 2/15/2043 | 100 | 87 |
Exxon Mobil Corp. 3.00%, 8/16/2039 | 265 | 216 |
Flex Intermediate Holdco LLC | ||
3.36%, 6/30/2031 (b) | 75 | 61 |
4.32%, 12/30/2039 (b) | 55 | 43 |
Gray Oak Pipeline LLC | ||
2.60%, 10/15/2025 (b) | 245 | 229 |
3.45%, 10/15/2027 (b) | 130 | 119 |
22 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
HF Sinclair Corp. | ||
2.63%, 10/1/2023 (b) | 92 | 89 |
5.88%, 4/1/2026 (b) | 49 | 50 |
MPLX LP 4.50%, 4/15/2038 | 86 | 75 |
NGPL PipeCo LLC 3.25%, 7/15/2031 (b) | 80 | 67 |
Phillips 66 Co. 3.55%, 10/1/2026 (b) | 85 | 83 |
Sabine Pass Liquefaction LLC 5.63%, 3/1/2025 | 178 | 182 |
Targa Resources Corp. 4.20%, 2/1/2033 | 30 | 27 |
TotalEnergies Capital International SA (France) 2.99%, 6/29/2041 | 175 | 138 |
2,162 | ||
Personal Products — 0.0% ^ | ||
GSK Consumer Healthcare Capital US LLC 3.38%, 3/24/2029 (b) | 250 | 234 |
Pharmaceuticals — 0.2% | ||
AstraZeneca plc (United Kingdom) 6.45%, 9/15/2037 | 20 | 24 |
Bristol-Myers Squibb Co. | ||
4.13%, 6/15/2039 | 90 | 86 |
2.35%, 11/13/2040 | 244 | 180 |
Merck & Co., Inc. 2.35%, 6/24/2040 | 133 | 100 |
Takeda Pharmaceutical Co. Ltd. (Japan) 3.03%, 7/9/2040 | 600 | 462 |
Viatris, Inc. | ||
3.85%, 6/22/2040 | 111 | 79 |
4.00%, 6/22/2050 | 63 | 42 |
973 | ||
Road & Rail — 0.1% | ||
CSX Corp. 3.80%, 11/1/2046 | 93 | 79 |
Kansas City Southern 4.70%, 5/1/2048 | 72 | 68 |
Norfolk Southern Corp. 3.05%, 5/15/2050 | 90 | 66 |
Triton Container International Ltd. (Bermuda) 2.05%, 4/15/2026 (b) | 200 | 177 |
Union Pacific Corp. 3.55%, 8/15/2039 | 121 | 104 |
494 | ||
Semiconductors & Semiconductor Equipment — 0.1% | ||
Analog Devices, Inc. 2.80%, 10/1/2041 | 85 | 67 |
Broadcom, Inc. | ||
1.95%, 2/15/2028 (b) | 210 | 179 |
3.19%, 11/15/2036 (b) | 27 | 20 |
KLA Corp. 3.30%, 3/1/2050 | 122 | 97 |
Microchip Technology, Inc. | ||
0.97%, 2/15/2024 | 110 | 104 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Semiconductors & Semiconductor Equipment — continued | ||
0.98%, 9/1/2024 | 112 | 104 |
NXP BV (China) 3.25%, 5/11/2041 | 135 | 102 |
Xilinx, Inc. 2.38%, 6/1/2030 | 228 | 201 |
874 | ||
Software — 0.1% | ||
Oracle Corp. 3.80%, 11/15/2037 | 130 | 101 |
VMware, Inc. | ||
1.40%, 8/15/2026 | 154 | 136 |
4.70%, 5/15/2030 | 143 | 138 |
375 | ||
Specialty Retail — 0.0% ^ | ||
Lowe's Cos., Inc. 3.70%, 4/15/2046 | 178 | 143 |
Technology Hardware, Storage & Peripherals — 0.1% | ||
Apple, Inc. 3.45%, 2/9/2045 | 160 | 139 |
Dell International LLC 6.20%, 7/15/2030 | 370 | 385 |
524 | ||
Thrifts & Mortgage Finance — 0.0% ^ | ||
BPCE SA (France) (SOFR + 1.52%), 1.65%, 10/6/2026 (b) (c) | 300 | 269 |
Tobacco — 0.1% | ||
Altria Group, Inc. 2.45%, 2/4/2032 | 145 | 109 |
BAT Capital Corp. (United Kingdom) | ||
2.26%, 3/25/2028 | 168 | 141 |
4.39%, 8/15/2037 | 110 | 87 |
3.73%, 9/25/2040 | 143 | 100 |
437 | ||
Trading Companies & Distributors — 0.1% | ||
Air Lease Corp. | ||
3.38%, 7/1/2025 | 175 | 165 |
2.88%, 1/15/2026 | 90 | 82 |
1.88%, 8/15/2026 | 245 | 212 |
459 | ||
Wireless Telecommunication Services — 0.0% ^ | ||
Rogers Communications, Inc. (Canada) 4.55%, 3/15/2052 (b) | 55 | 48 |
Total Corporate Bonds (Cost $41,106) | 34,716 | |
Asset-Backed Securities — 4.6% | ||
ACC Auto Trust | ||
Series 2021-A, Class A, 1.08%, 4/15/2027 (b) | 139 | 137 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 23 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Series 2021-A, Class B, 1.79%, 4/15/2027 (b) | 340 | 325 |
ACC Trust Series 2021-1, Class B, 1.43%, 7/22/2024 (b) | 280 | 278 |
Accelerated LLC Series 2021-1H, Class B, 1.90%, 10/20/2040 ‡ (b) | 174 | 159 |
Affirm Asset Securitization Trust Series 2021-A, Class A, 0.88%, 8/15/2025 (b) | 285 | 281 |
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2, 1.94%, 8/15/2046 (b) | 315 | 278 |
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA, 3.20%, 6/15/2028 | 269 | 246 |
Series 2016-3, Class AA, 3.00%, 10/15/2028 | 354 | 321 |
Series 2021-1, Class B, 3.95%, 7/11/2030 | 335 | 279 |
Series 2019-1, Class AA, 3.15%, 2/15/2032 | 420 | 371 |
AMSR Trust | ||
Series 2020-SFR2, Class E1, 4.03%, 7/17/2037 ‡ (b) | 150 | 144 |
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 ‡ (b) | 100 | 91 |
Series 2020-SFR4, Class D, 2.01%, 11/17/2037 ‡ (b) | 335 | 306 |
Series 2020-SFR4, Class E2, 2.46%, 11/17/2037 ‡ (b) | 140 | 128 |
Series 2021-SFR2, Class E2, 2.58%, 8/17/2038 ‡ (b) | 120 | 105 |
Aqua Finance Trust Series 2020-AA, Class C, 3.97%, 7/17/2046 ‡ (b) | 100 | 94 |
Arivo Acceptance Auto Loan Receivables Trust Series 2021-1A, Class A, 1.19%, 1/15/2027 (b) | 55 | 53 |
Business Jet Securities LLC | ||
Series 2020-1A, Class A, 2.98%, 11/15/2035 (b) | 361 | 331 |
Series 2021-1A, Class A, 2.16%, 4/15/2036 (b) | 293 | 265 |
Series 2021-1A, Class B, 2.92%, 4/15/2036 ‡ (b) | 406 | 362 |
Series 2022-1A, Class A, 4.46%, 6/15/2037 (b) | 219 | 211 |
BXG Receivables Note Trust Series 2020-A, Class A, 1.55%, 2/28/2036 (b) | 127 | 117 |
Carvana Auto Receivables Trust | ||
Series 2019-4A, Class D, 3.07%, 7/15/2025 (b) | 50 | 49 |
Series 2020-P1, Class C, 1.32%, 11/9/2026 | 175 | 159 |
CPS Auto Receivables Trust | ||
Series 2021-A, Class B, 0.61%, 2/18/2025 (b) | 65 | 65 |
Series 2021-B, Class C, 1.23%, 3/15/2027 (b) | 270 | 259 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Credit Acceptance Auto Loan Trust Series 2020-2A, Class C, 2.73%, 11/15/2029 (b) | 260 | 251 |
Credito Real USA Auto Receivables Trust Series 2021-1A, Class A, 1.35%, 2/16/2027 (b) | 67 | 65 |
Crossroads Asset Trust | ||
Series 2021-A, Class A2, 0.82%, 3/20/2024 (b) | 48 | 47 |
Series 2021-A, Class B, 1.12%, 6/20/2025 ‡ (b) | 195 | 188 |
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (b) | 205 | 185 |
Delta Air Lines Pass-Through Trust Series 2020-1, Class A, 2.50%, 6/10/2028 | 187 | 164 |
Diamond Resorts Owner Trust | ||
Series 2021-1A, Class A, 1.51%, 11/21/2033 (b) | 53 | 50 |
Series 2021-1A, Class C, 2.70%, 11/21/2033 ‡ (b) | 162 | 152 |
Drive Auto Receivables Trust Series 2020-1, Class D, 2.70%, 5/17/2027 | 125 | 123 |
DT Auto Owner Trust | ||
Series 2021-1A, Class C, 0.84%, 10/15/2026 (b) | 135 | 129 |
Series 2021-2A, Class C, 1.10%, 2/16/2027 (b) | 165 | 157 |
Series 2022-2A, Class D, 5.46%, 3/15/2028 (b) | 130 | 127 |
Elara HGV Timeshare Issuer LLC Series 2021-A, Class B, 1.74%, 8/27/2035 ‡ (b) | 314 | 289 |
Exeter Automobile Receivables Trust Series 2021-2A, Class C, 0.98%, 6/15/2026 | 280 | 269 |
FHF Trust Series 2021-1A, Class A, 1.27%, 3/15/2027 (b) | 69 | 67 |
First Investors Auto Owner Trust Series 2021-1A, Class B, 0.89%, 3/15/2027 (b) | 140 | 136 |
FirstKey Homes Trust | ||
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 ‡ (b) | 420 | 363 |
Series 2022-SFR1, Class E1, 5.00%, 5/17/2039 (b) | 140 | 130 |
Flagship Credit Auto Trust | ||
Series 2018-1, Class D, 3.86%, 4/15/2024 (b) | 76 | 76 |
Series 2021-1, Class B, 0.68%, 2/16/2027 (b) | 180 | 174 |
Series 2020-4, Class C, 1.28%, 2/16/2027 (b) | 185 | 178 |
FMC GMSR Issuer Trust Series 2021-GT2, Class A, 3.85%, 10/25/2026 (b) (e) | 265 | 237 |
FREED ABS Trust Series 2021-2, Class B, 1.03%, 6/19/2028 ‡ (b) | 300 | 297 |
24 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Genesis Sales Finance Master Trust Series 2020-AA, Class A, 1.65%, 9/22/2025 (b) | 231 | 227 |
GLS Auto Receivables Issuer Trust Series 2020-4A, Class B, 0.87%, 12/16/2024 (b) | 62 | 62 |
Home Partners of America Trust | ||
Series 2021-2, Class C, 2.40%, 12/17/2026 ‡ (b) | 412 | 369 |
Series 2021-3, Class D, 3.00%, 1/17/2041 ‡ (b) | 245 | 218 |
JetBlue Pass-Through Trust Series 2020-1, Class B, 7.75%, 11/15/2028 | 140 | 143 |
Lendbuzz Securitization Trust Series 2021-1A, Class A, 1.46%, 6/15/2026 (b) | 319 | 310 |
Lendingpoint Asset Securitization Trust | ||
Series 2021-A, Class A, 1.00%, 12/15/2028 (b) | 184 | 183 |
Series 2021-A, Class B, 1.46%, 12/15/2028 ‡ (b) | 100 | 97 |
Series 2021-B, Class A, 1.11%, 2/15/2029 (b) | 273 | 268 |
Series 2021-B, Class B, 1.68%, 2/15/2029 ‡ (b) | 215 | 202 |
LendingPoint Asset Securitization Trust Series 2020-REV1, Class A, 2.73%, 10/15/2028 (b) | 437 | 429 |
LL ABS Trust Series 2021-1A, Class A, 1.07%, 5/15/2029 (b) | 137 | 132 |
Mariner Finance Issuance Trust Series 2021-AA, Class A, 1.86%, 3/20/2036 (b) | 425 | 376 |
Marlette Funding Trust | ||
Series 2021-1A, Class A, 0.60%, 6/16/2031 (b) | 18 | 18 |
Series 2021-1A, Class B, 1.00%, 6/16/2031 ‡ (b) | 333 | 326 |
Mercury Financial Credit Card Master Trust Series 2021-1A, Class A, 1.54%, 3/20/2026 (b) | 455 | 433 |
Mission Lane Credit Card Master Trust Series 2021-A, Class A, 1.59%, 9/15/2026 (b) | 365 | 352 |
MVW LLC Series 2021-2A, Class C, 2.23%, 5/20/2039 ‡ (b) | 442 | 404 |
NMEF Funding LLC Series 2021-A, Class B, 1.85%, 12/15/2027 ‡ (b) | 260 | 245 |
NRZ Excess Spread-Collateralized Notes | ||
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (b) | 278 | 264 |
Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (b) | 207 | 190 |
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (b) | 526 | 480 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Octane Receivables Trust Series 2021-1A, Class A, 0.93%, 3/22/2027 (b) | 197 | 192 |
OneMain Financial Issuance Trust Series 2020-2A, Class D, 3.45%, 9/14/2035 ‡ (b) | 120 | 107 |
Oportun Funding XIV LLC Series 2021-A, Class A, 1.21%, 3/8/2028 (b) | 247 | 231 |
Oportun Issuance Trust Series 2021-B, Class A, 1.47%, 5/8/2031 (b) | 830 | 770 |
Orange Lake Timeshare Trust Series 2016-A, Class A, 2.61%, 3/8/2029 (b) | 47 | 45 |
Pagaya AI Debt Selection Trust | ||
Series 2021-1, Class A, 1.18%, 11/15/2027 (b) | 315 | 308 |
Series 2021-HG1, Class A, 1.22%, 1/16/2029 (b) | 488 | 464 |
Series 2021-3, Class A, 1.15%, 5/15/2029 (b) | 196 | 190 |
PRET LLC Series 2021-RN4, Class A1, 2.49%, 10/25/2051 (b) (e) | 157 | 149 |
Pretium Mortgage Credit Partners I LLC | ||
Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 ‡ (b) (d) | 565 | 535 |
Series 2021-NPL4, Class A1, 2.36%, 10/27/2060 ‡ (b) (d) | 408 | 383 |
Progress Residential Trust | ||
Series 2020-SFR3, Class A, 1.29%, 10/17/2027 (b) | 180 | 165 |
Series 2020-SFR3, Class B, 1.50%, 10/17/2027 ‡ (b) | 130 | 117 |
Series 2020-SFR1, Class E, 3.03%, 4/17/2037 ‡ (b) | 300 | 279 |
Series 2021-SFR2, Class D, 2.20%, 4/19/2038 ‡ (b) | 889 | 793 |
Regional Management Issuance Trust Series 2021-1, Class A, 1.68%, 3/17/2031 (b) | 390 | 360 |
Republic Finance Issuance Trust | ||
Series 2020-A, Class A, 2.47%, 11/20/2030 (b) | 210 | 202 |
Series 2021-A, Class A, 2.30%, 12/22/2031 (b) | 608 | 564 |
Santander Consumer Auto Receivables Trust Series 2021-AA, Class B, 0.71%, 8/17/2026 (b) | 195 | 182 |
Sierra Timeshare Receivables Funding LLC Series 2021-2A, Class B, 1.80%, 9/20/2038 ‡ (b) | 138 | 130 |
Theorem Funding Trust Series 2021-1A, Class A, 1.21%, 12/15/2027 (b) | 258 | 252 |
Tricolor Auto Securitization Trust | ||
Series 2021-1A, Class B, 1.00%, 6/17/2024 (b) | 190 | 187 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 25 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Series 2021-1A, Class C, 1.33%, 9/16/2024 (b) | 270 | 264 |
United Airlines Pass-Through Trust | ||
Series 2016-2, Class B, 3.65%, 10/7/2025 | 80 | 73 |
Series 2019-2, Class B, 3.50%, 5/1/2028 | 151 | 131 |
Series 2016-2, Class A, 3.10%, 10/7/2028 | 84 | 72 |
Series 2018-1, Class A, 3.70%, 3/1/2030 | 217 | 192 |
Upstart Pass-Through Trust Series 2021-ST2, Class A, 2.50%, 4/20/2027 (b) | 76 | 73 |
Upstart Securitization Trust | ||
Series 2020-3, Class A, 1.70%, 11/20/2030 (b) | 70 | 70 |
Series 2021-1, Class A, 0.87%, 3/20/2031 (b) | 40 | 39 |
US Auto Funding Series 2021-1A, Class B, 1.49%, 3/17/2025 (b) | 195 | 188 |
VCAT LLC | ||
Series 2021-NPL1, Class A1, 2.29%, 12/26/2050 ‡ (b) (d) | 147 | 142 |
Series 2021-NPL2, Class A1, 2.12%, 3/27/2051 (b) (d) | 180 | 172 |
Veros Auto Receivables Trust Series 2021-1, Class A, 0.92%, 10/15/2026 (b) | 98 | 96 |
VOLT XCII LLC Series 2021-NPL1, Class A1, 1.89%, 2/27/2051 (b) (d) | 206 | 195 |
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 ‡ (b) (d) | 790 | 749 |
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 ‡ (b) (d) | 675 | 641 |
VOLT XCIX LLC Series 2021-NPL8, Class A1, 2.12%, 4/25/2051 ‡ (b) (d) | 426 | 403 |
VOLT XCV LLC Series 2021-NPL4, Class A1, 2.24%, 3/27/2051 ‡ (b) (d) | 301 | 286 |
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (b) (d) | 500 | 477 |
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 ‡ (b) (d) | 521 | 495 |
Westgate Resorts LLC Series 2022-1A, Class B, 2.29%, 8/20/2036 ‡ (b) | 222 | 212 |
Westlake Automobile Receivables Trust Series 2020-3A, Class C, 1.24%, 11/17/2025 (b) | 75 | 73 |
Total Asset-Backed Securities (Cost $28,424) | 26,644 | |
Mortgage-Backed Securities — 4.3% | ||
FHLMC UMBS, 30 Year | ||
Pool # ZL3032 3.50%, 5/1/2042 | 221 | 216 |
Pool # QB4026 2.50%, 10/1/2050 | 683 | 621 |
Pool # QB4045 2.50%, 10/1/2050 | 413 | 372 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Pool # QB4484 2.50%, 10/1/2050 | 247 | 225 |
Pool # QB4542 2.50%, 10/1/2050 | 223 | 203 |
Pool # RA4224 3.00%, 11/1/2050 | 110 | 103 |
Pool # QB8503 2.50%, 2/1/2051 | 336 | 303 |
Pool # QC4789 3.00%, 7/1/2051 | 230 | 215 |
Pool # QD5778 3.00%, 1/1/2052 | 258 | 241 |
Pool # QE1637 4.00%, 5/1/2052 | 120 | 120 |
Pool # QE1832 4.50%, 5/1/2052 | 135 | 139 |
FNMA UMBS, 30 Year | ||
Pool # CA2826 5.50%, 12/1/2048 | 422 | 444 |
Pool # FM3118 3.00%, 5/1/2050 | 192 | 181 |
Pool # BQ2894 3.00%, 9/1/2050 | 361 | 339 |
Pool # BQ3996 2.50%, 10/1/2050 | 290 | 263 |
Pool # BQ5243 3.50%, 10/1/2050 | 121 | 117 |
Pool # CA7398 3.50%, 10/1/2050 | 432 | 419 |
Pool # CA8637 4.00%, 1/1/2051 | 765 | 766 |
Pool # BU3079 3.00%, 1/1/2052 | 198 | 185 |
Pool # BV0273 3.00%, 1/1/2052 | 208 | 194 |
Pool # BV4831 3.00%, 2/1/2052 | 159 | 148 |
Pool # BV0295 3.50%, 2/1/2052 | 449 | 440 |
Pool # BV6743 4.50%, 5/1/2052 | 155 | 158 |
Pool # BV9515 6.00%, 6/1/2052 | 140 | 148 |
FNMA, Other | ||
Pool # AM3010 5.07%, 3/1/2028 | 209 | 225 |
Pool # BL8639 1.09%, 4/1/2028 | 238 | 211 |
Pool # AM5319 4.34%, 1/1/2029 | 191 | 198 |
Pool # BS0448 1.27%, 12/1/2029 | 449 | 387 |
Pool # BL9748 1.60%, 12/1/2029 | 140 | 123 |
Pool # AN7593 2.99%, 12/1/2029 | 129 | 124 |
Pool # AN8285 3.11%, 3/1/2030 | 134 | 131 |
Pool # AM8544 3.08%, 4/1/2030 | 60 | 58 |
Pool # BL9251 1.45%, 10/1/2030 | 360 | 309 |
Pool # AM4789 4.18%, 11/1/2030 | 86 | 87 |
Pool # BL9891 1.37%, 12/1/2030 | 249 | 213 |
Pool # BS5580 3.68%, 1/1/2032 | 370 | 372 |
Pool # AN6149 3.14%, 7/1/2032 | 405 | 389 |
Pool # BM3226 3.44%, 10/1/2032 (e) | 592 | 578 |
Pool # AN7923 3.33%, 1/1/2033 | 250 | 242 |
Pool # BS5357 3.41%, 3/1/2033 | 275 | 268 |
Pool # AN9067 3.51%, 5/1/2033 | 140 | 138 |
Pool # AN9752 3.65%, 7/1/2033 | 265 | 263 |
Pool # BS5511 3.45%, 8/1/2033 | 365 | 357 |
Pool # BS5127 3.15%, 9/1/2033 | 215 | 204 |
Pool # BL1012 4.03%, 12/1/2033 | 130 | 133 |
Pool # BL0900 4.08%, 2/1/2034 | 75 | 77 |
26 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Mortgage-Backed Securities — continued | ||
Pool # AN4430 3.61%, 1/1/2037 | 219 | 216 |
Pool # BF0230 5.50%, 1/1/2058 | 618 | 678 |
Pool # BF0497 3.00%, 7/1/2060 | 289 | 272 |
GNMA II, 30 Year | ||
Pool # BY3432 3.50%, 9/20/2050 | 322 | 314 |
Pool # BR3929 3.50%, 10/20/2050 | 201 | 195 |
Pool # BW1726 3.50%, 10/20/2050 | 303 | 295 |
Pool # BS8546 2.50%, 12/20/2050 | 717 | 645 |
Pool # BR3928 3.00%, 12/20/2050 | 330 | 316 |
Pool # BU7538 3.00%, 12/20/2050 | 219 | 210 |
Pool # 785294 3.50%, 1/20/2051 | 703 | 698 |
Pool # CA8452 3.00%, 2/20/2051 | 917 | 876 |
Pool # CB1543 3.00%, 2/20/2051 | 647 | 611 |
Pool # CA3588 3.50%, 2/20/2051 | 607 | 591 |
Pool # CB1536 3.50%, 2/20/2051 | 668 | 652 |
Pool # CB1542 3.00%, 3/20/2051 | 441 | 417 |
Pool # CB4433 3.00%, 3/20/2051 | 748 | 699 |
Pool # CC0070 3.00%, 3/20/2051 | 110 | 106 |
Pool # CC8726 3.00%, 3/20/2051 | 146 | 138 |
Pool # CC8738 3.00%, 3/20/2051 | 176 | 166 |
Pool # CC8723 3.50%, 3/20/2051 | 804 | 782 |
Pool # CC0088 4.00%, 3/20/2051 | 31 | 31 |
Pool # CC0092 4.00%, 3/20/2051 | 75 | 75 |
Pool # CC8727 3.00%, 4/20/2051 | 207 | 196 |
Pool # CC8739 3.00%, 4/20/2051 | 591 | 558 |
Pool # CC8740 3.00%, 4/20/2051 | 524 | 494 |
Pool # CC8751 3.00%, 4/20/2051 | 108 | 102 |
Pool # CA3563 3.50%, 7/20/2051 | 388 | 382 |
Pool # CE2586 3.50%, 7/20/2051 | 553 | 538 |
Pool # CK1527 3.50%, 12/20/2051 | 381 | 373 |
Pool # CJ8184 3.50%, 1/20/2052 | 402 | 391 |
Pool # CK2660 3.00%, 2/20/2052 | 248 | 230 |
Pool # CK2716 3.50%, 2/20/2052 | 303 | 297 |
GNMA II, Other Pool # 785183 2.94%, 10/20/2070 (e) | 361 | 340 |
Total Mortgage-Backed Securities (Cost $27,448) | 24,531 | |
U.S. Treasury Obligations — 4.0% | ||
U.S. Treasury Bonds | ||
1.13%, 5/15/2040 | 1,504 | 1,047 |
1.13%, 8/15/2040 | 4,644 | 3,208 |
2.38%, 2/15/2042 | 540 | 458 |
2.25%, 8/15/2046 | 455 | 367 |
1.25%, 5/15/2050 | 202 | 129 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
1.38%, 8/15/2050 | 4,745 | 3,123 |
1.63%, 11/15/2050 | 1,505 | 1,059 |
1.88%, 2/15/2051 | 388 | 291 |
U.S. Treasury Notes | ||
0.13%, 1/31/2023 (f) | 1,436 | 1,416 |
1.75%, 7/31/2024 | 430 | 419 |
0.25%, 8/31/2025 | 2,264 | 2,073 |
1.88%, 2/28/2027 | 1,120 | 1,063 |
1.88%, 2/28/2029 | 1,594 | 1,482 |
2.88%, 4/30/2029 | 1,026 | 1,014 |
1.50%, 2/15/2030 | 1,610 | 1,446 |
0.63%, 8/15/2030 | 758 | 629 |
0.88%, 11/15/2030 | 1,250 | 1,055 |
1.63%, 5/15/2031 | 845 | 755 |
U.S. Treasury STRIPS Bonds | ||
1.04%, 8/15/2026 (g) | 1,015 | 896 |
1.14%, 5/15/2027 (g) | 1,035 | 891 |
Total U.S. Treasury Obligations (Cost $26,634) | 22,821 | |
Collateralized Mortgage Obligations — 1.1% | ||
Ajax Mortgage Loan Trust Series 2021-B, Class A, 2.24%, 6/25/2066 ‡ (b) (d) | 369 | 344 |
Bayview Finance LLC, 0.00%, 7/12/2033 ‡ | 357 | 355 |
Cascade MH Asset Trust Series 2021-MH1, Class A1, 1.75%, 2/25/2046 (b) | 471 | 422 |
CFMT LLC | ||
Series 2020-HB4, Class A, 0.95%, 12/26/2030 (b) (e) | 89 | 88 |
Series 2021-HB5, Class A, 0.80%, 2/25/2031 (b) (e) | 370 | 363 |
CSMC Trust Series 2021-RPL1, Class A1, 1.67%, 9/27/2060 (b) (e) | 415 | 393 |
FNMA Trust, Whole Loan Series 2002-W8, Class A1, 6.50%, 6/25/2042 | 167 | 182 |
FNMA, Grantor Trust, Whole Loan Series 2001-T12, Class A1, 6.50%, 8/25/2041 | 67 | 71 |
FNMA, REMIC | ||
Series 2018-72, Class VB, 3.50%, 10/25/2031 | 140 | 140 |
Series 2019-7, Class CA, 3.50%, 11/25/2057 | 775 | 774 |
FNMA, REMIC Trust, Whole Loan Series 2002-W3, Class A4, 6.50%, 11/25/2041 | 333 | 355 |
GNMA | ||
Series 2015-H11, Class FC, 1.35%, 5/20/2065 (e) | 181 | 180 |
Series 2021-H14, Class YD, 8.30%, 6/20/2071 (e) | 365 | 408 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 27 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Collateralized Mortgage Obligations — continued | ||
Legacy Mortgage Asset Trust Series 2021-GS1, Class A1, 1.89%, 10/25/2066 (b) (d) | 188 | 182 |
LHOME Mortgage Trust Series 2021-RTL1, Class A1, 2.09%, 9/25/2026 (b) (e) | 150 | 144 |
PRPM LLC | ||
Series 2021-2, Class A1, 2.12%, 3/25/2026 (b) (e) | 316 | 301 |
Series 2021-10, Class A1, 2.49%, 10/25/2026 (b) (d) | 125 | 118 |
Seasoned Credit Risk Transfer Trust | ||
Series 2018-1, Class M60C, 3.50%, 5/25/2057 | 213 | 210 |
Series 2019-2, Class M55D, 4.00%, 8/25/2058 ‡ | 273 | 273 |
Series 2020-3, Class M5TW, 3.00%, 5/25/2060 ‡ | 485 | 468 |
Toorak Mortgage Corp. Ltd. Series 2020-1, Class A1, 2.73%, 3/25/2023 (b) (d) | 104 | 103 |
Towd Point Mortgage Trust Series 2021-R1, Class A1, 2.92%, 11/30/2060 (b) (e) | 754 | 687 |
Total Collateralized Mortgage Obligations (Cost $6,987) | 6,561 | |
Commercial Mortgage-Backed Securities — 0.6% | ||
ACRE Commercial Mortgage Ltd. | ||
Series 2021-FL4, Class A, 2.44%, 12/18/2037 (b) (e) | 201 | 199 |
Series 2021-FL4, Class AS, 2.71%, 12/18/2037 (b) (e) | 230 | 226 |
BPR Trust Series 2021-KEN, Class A, 2.57%, 2/15/2029 (b) (e) | 200 | 197 |
FHLMC, Multi-Family Structured Credit Risk Series 2021-MN2, Class M1, 2.73%, 7/25/2041 (b) (e) | 340 | 306 |
FHLMC, Multi-Family Structured Pass-Through Certificates | ||
Series K-1511, Class A1, 3.28%, 10/25/2030 | 319 | 316 |
Series K-1510, Class A2, 3.72%, 1/25/2031 | 115 | 117 |
FNMA ACES | ||
Series 2022-M1S, Class A2, 2.08%, 4/25/2032 | 515 | 447 |
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033 | 95 | 91 |
Series 2021-M3, Class X1, IO, 2.09%, 11/25/2033 (e) | 596 | 68 |
FNMA, Other 3.08%, 1/1/2029 (h) | 485 | 493 |
FREMF Mortgage Trust | ||
Series 2017-KGX1, Class BFX, 3.71%, 10/25/2027 (b) (e) | 210 | 194 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2015-K48, Class C, 3.77%, 8/25/2048 (b) (e) | 15 | 14 |
Series 2016-K56, Class B, 4.08%, 6/25/2049 (b) (e) | 165 | 162 |
Series 2017-K728, Class C, 3.76%, 11/25/2050 (b) (e) | 75 | 73 |
KKR Industrial Portfolio Trust Series 2021-KDIP, Class B, 2.12%, 12/15/2037 ‡ (b) (e) | 176 | 168 |
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (b) | 360 | 305 |
Total Commercial Mortgage-Backed Securities (Cost $3,605) | 3,376 | |
Foreign Government Securities — 0.2% | ||
Republic of Chile (Chile) 2.55%, 1/27/2032 | 200 | 170 |
Republic of Panama (Panama) 3.16%, 1/23/2030 | 200 | 178 |
Republic of Peru (Peru) 2.78%, 12/1/2060 | 49 | 30 |
United Mexican States (Mexico) | ||
2.66%, 5/24/2031 | 400 | 329 |
3.50%, 2/12/2034 | 228 | 189 |
Total Foreign Government Securities (Cost $1,103) | 896 | |
SHARES (000) | ||
Short Term Investments — 7.9% | ||
Investment Companies — 7.9% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (i) (Cost $45,463) | 45,463 | 45,463 |
Total Investments — 98.8% (Cost $590,040) | 568,663 | |
Other Assets Less Liabilities — 1.2% | 6,836 | |
NET ASSETS — 100.0% | 575,499 |
Percentages indicated are based on net assets. |
Abbreviations | |
ABS | Asset-Backed Securities |
ACES | Alternative Credit Enhancement Securities |
CSMC | Credit Suisse Mortgage Trust |
ETF | Exchange Traded Fund |
FHLMC | Federal Home Loan Mortgage Corp. |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
ICE | Intercontinental Exchange |
28 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. |
LIBOR | London Interbank Offered Rate |
REIT | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. |
UMBS | Uniform Mortgage-Backed Securities |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(c) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022. |
(d) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of June 30, 2022. | |
(e) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022. | |
(f) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. | |
(g) | The rate shown is the effective yield as of June 30, 2022. | |
(h) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(i) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Short Contracts | |||||
DJ US Real Estate Index | (119) | 09/16/2022 | USD | (4,253) | (80) |
MSCI EAFE E-Mini Index | (34) | 09/16/2022 | USD | (3,160) | 3 |
MSCI Emerging Markets E-Mini Index | (99) | 09/16/2022 | USD | (4,968) | (10) |
S&P 500 E-Mini Index | (30) | 09/16/2022 | USD | (5,694) | 88 |
1 |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 29 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 39.2% | ||
Fixed Income — 16.5% | ||
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 329 | 2,451 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 80 | 464 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 38 | 309 |
JPMorgan High Yield Fund Class R6 Shares (a) | 190 | 1,171 |
Total Fixed Income | 4,395 | |
International Equity — 4.7% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 79 | 1,236 |
U.S. Equity — 18.0% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 84 | 4,798 |
Total Investment Companies (Cost $10,902) | 10,429 | |
Exchange-Traded Funds — 29.9% | ||
Alternative Assets — 1.4% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 4 | 373 |
Fixed Income — 15.1% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 4 | 150 |
JPMorgan Inflation Managed Bond ETF (a) | 42 | 2,010 |
JPMorgan U.S. Aggregate Bond ETF (a) | 38 | 1,842 |
Total Fixed Income | 4,002 | |
International Equity — 9.3% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 52 | 2,476 |
U.S. Equity — 4.1% | ||
iShares Russell 2000 ETF | 3 | 498 |
iShares Russell Mid-Cap ETF | 9 | 604 |
Total U.S. Equity | 1,102 | |
Total Exchange-Traded Funds (Cost $8,313) | 7,953 | |
PRINCIPAL AMOUNT ($000) | ||
U.S. Treasury Obligations — 6.8% | ||
U.S. Treasury Bonds | ||
1.13%, 5/15/2040 | 64 | 45 |
1.13%, 8/15/2040 | 115 | 79 |
1.38%, 11/15/2040 | 37 | 27 |
2.25%, 5/15/2041 | 8 | 7 |
1.75%, 8/15/2041 | 15 | 11 |
2.00%, 11/15/2041 | 10 | 8 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
2.25%, 8/15/2046 | 15 | 12 |
1.38%, 8/15/2050 | 182 | 120 |
1.63%, 11/15/2050 | 58 | 41 |
1.88%, 11/15/2051 | 22 | 16 |
2.25%, 2/15/2052 | 20 | 16 |
U.S. Treasury Notes | ||
0.13%, 1/31/2023 (b) | 478 | 471 |
0.13%, 9/15/2023 | 215 | 208 |
1.50%, 2/15/2025 | 170 | 163 |
0.25%, 8/31/2025 | 121 | 111 |
0.38%, 11/30/2025 | 46 | 42 |
3.25%, 6/30/2027 | 50 | 50 |
0.50%, 8/31/2027 | 68 | 60 |
0.63%, 11/30/2027 | 45 | 40 |
1.25%, 3/31/2028 | 15 | 14 |
1.25%, 5/31/2028 | 12 | 11 |
1.00%, 7/31/2028 | 35 | 31 |
1.88%, 2/28/2029 | 35 | 33 |
2.88%, 4/30/2029 | 46 | 45 |
1.88%, 2/15/2032 | 69 | 63 |
U.S. Treasury STRIPS Bonds | ||
1.04%, 8/15/2026 (c) | 40 | 35 |
1.14%, 5/15/2027 (c) | 40 | 34 |
2.33%, 5/15/2041 (c) | 55 | 28 |
Total U.S. Treasury Obligations (Cost $2,001) | 1,821 | |
Corporate Bonds — 6.0% | ||
Aerospace & Defense — 0.2% | ||
Boeing Co. (The) | ||
1.17%, 2/4/2023 | 5 | 5 |
1.43%, 2/4/2024 | 5 | 5 |
2.70%, 2/1/2027 | 32 | 28 |
3.45%, 11/1/2028 | 3 | 3 |
Northrop Grumman Corp. 3.85%, 4/15/2045 | 7 | 6 |
Raytheon Technologies Corp. 2.25%, 7/1/2030 | 11 | 9 |
56 | ||
Airlines — 0.0% ^ | ||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 | 12 | 10 |
Automobiles — 0.2% | ||
General Motors Co. 6.80%, 10/1/2027 | 4 | 4 |
Hyundai Capital America | ||
1.15%, 11/10/2022 (d) | 17 | 17 |
2.65%, 2/10/2025 (d) | 5 | 5 |
30 | J.P. Morgan Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Automobiles — continued | ||
1.30%, 1/8/2026 (d) | 5 | 5 |
2.38%, 10/15/2027 (d) | 14 | 12 |
43 | ||
Banks — 0.5% | ||
Bank of America Corp. | ||
(SOFR + 1.01%), 1.20%, 10/24/2026 (e) | 11 | 10 |
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (e) | 23 | 22 |
(SOFR + 1.58%), 4.38%, 4/27/2028 (e) | 5 | 5 |
(SOFR + 1.21%), 2.57%, 10/20/2032 (e) | 5 | 4 |
(SOFR + 1.93%), 2.68%, 6/19/2041 (e) | 21 | 15 |
Citigroup, Inc. | ||
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 7/24/2028 (e) | 5 | 5 |
(ICE LIBOR USD 3 Month + 1.15%), 3.52%, 10/27/2028 (e) | 11 | 10 |
(SOFR + 1.18%), 2.52%, 11/3/2032 (e) | 5 | 4 |
(ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (e) | 7 | 6 |
HSBC Holdings plc (United Kingdom) 6.10%, 1/14/2042 | 12 | 13 |
Mitsubishi UFJ Financial Group, Inc. (Japan) 3.74%, 3/7/2029 | 11 | 10 |
Wells Fargo & Co. | ||
(SOFR + 2.53%), 3.07%, 4/30/2041 (e) | 12 | 9 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (e) | 5 | 5 |
Westpac Banking Corp. (Australia) 3.13%, 11/18/2041 | 4 | 3 |
121 | ||
Beverages — 0.1% | ||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.75%, 7/15/2042 | 7 | 6 |
Keurig Dr Pepper, Inc. 3.20%, 5/1/2030 | 8 | 7 |
13 | ||
Biotechnology — 0.2% | ||
AbbVie, Inc. | ||
2.95%, 11/21/2026 | 3 | 3 |
3.20%, 11/21/2029 | 4 | 4 |
4.05%, 11/21/2039 | 20 | 18 |
Amgen, Inc. 3.15%, 2/21/2040 | 7 | 5 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Biotechnology — continued | ||
Gilead Sciences, Inc. 2.60%, 10/1/2040 | 11 | 8 |
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030 | 7 | 6 |
44 | ||
Building Products — 0.0% ^ | ||
Masco Corp. 2.00%, 10/1/2030 | 5 | 4 |
Capital Markets — 0.5% | ||
Goldman Sachs Group, Inc. (The) | ||
(SOFR + 0.57%), 0.67%, 3/8/2024 | 13 | 13 |
4.25%, 10/21/2025 | 46 | 46 |
(SOFR + 0.91%), 1.95%, 10/21/2027 (e) | 5 | 4 |
(SOFR + 1.11%), 2.64%, 2/24/2028 | 5 | 5 |
(ICE LIBOR USD 3 Month + 1.51%), 3.69%, 6/5/2028 (e) | 16 | 15 |
Macquarie Group Ltd. (Australia) (SOFR + 1.07%), 1.34%, 1/12/2027 (d) (e) | 10 | 9 |
Morgan Stanley | ||
3.95%, 4/23/2027 | 14 | 14 |
(ICE LIBOR USD 3 Month + 1.43%), 4.46%, 4/22/2039 (e) | 7 | 6 |
S&P Global, Inc. | ||
2.70%, 3/1/2029 (d) | 6 | 5 |
4.25%, 5/1/2029 (d) | 10 | 10 |
127 | ||
Chemicals — 0.1% | ||
International Flavors & Fragrances, Inc. 3.47%, 12/1/2050 (d) | 7 | 5 |
LYB International Finance III LLC 1.25%, 10/1/2025 | 11 | 10 |
15 | ||
Construction & Engineering — 0.0% ^ | ||
Quanta Services, Inc. 2.35%, 1/15/2032 | 10 | 8 |
Construction Materials — 0.0% ^ | ||
Martin Marietta Materials, Inc. Series CB, 2.50%, 3/15/2030 | 7 | 6 |
Consumer Finance — 0.2% | ||
Avolon Holdings Funding Ltd. (Ireland) | ||
2.88%, 2/15/2025 (d) | 5 | 5 |
5.50%, 1/15/2026 (d) | 19 | 18 |
2.13%, 2/21/2026 (d) | 5 | 4 |
2.53%, 11/18/2027 (d) | 13 | 11 |
Capital One Financial Corp. | ||
3.80%, 1/31/2028 | 11 | 10 |
June 30, 2022 | J.P. Morgan Funds | 31 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Consumer Finance — continued | ||
(SOFR + 1.27%), 2.62%, 11/2/2032 (e) | 5 | 4 |
General Motors Financial Co., Inc. | ||
3.80%, 4/7/2025 | 5 | 5 |
4.35%, 1/17/2027 | 2 | 2 |
Park Aerospace Holdings Ltd. (Ireland) 4.50%, 3/15/2023 (d) | 5 | 5 |
64 | ||
Containers & Packaging — 0.0% ^ | ||
Graphic Packaging International LLC 1.51%, 4/15/2026 (d) | 6 | 5 |
Diversified Consumer Services — 0.0% ^ | ||
University of Miami Series 2022, 4.06%, 4/1/2052 | 10 | 9 |
Diversified Financial Services — 0.0% ^ | ||
Shell International Finance BV (Netherlands) | ||
2.38%, 11/7/2029 | 7 | 6 |
3.13%, 11/7/2049 | 5 | 4 |
10 | ||
Diversified Telecommunication Services — 0.1% | ||
AT&T, Inc. | ||
3.50%, 6/1/2041 | 11 | 9 |
3.55%, 9/15/2055 | 4 | 3 |
Verizon Communications, Inc. | ||
2.10%, 3/22/2028 | 5 | 4 |
2.65%, 11/20/2040 | 5 | 4 |
20 | ||
Electric Utilities — 0.5% | ||
Edison International 5.75%, 6/15/2027 | 6 | 6 |
Emera US Finance LP (Canada) 4.75%, 6/15/2046 | 12 | 10 |
Evergy, Inc. 2.90%, 9/15/2029 | 11 | 10 |
Indiana Michigan Power Co. 3.25%, 5/1/2051 | 5 | 4 |
Jersey Central Power & Light Co. 4.30%, 1/15/2026 (d) | 7 | 7 |
New England Power Co. (United Kingdom) 2.81%, 10/6/2050 (d) | 7 | 5 |
NRG Energy, Inc. | ||
2.00%, 12/2/2025 (d) | 5 | 4 |
2.45%, 12/2/2027 (d) | 24 | 20 |
OGE Energy Corp. 0.70%, 5/26/2023 | 5 | 5 |
Oklahoma Gas and Electric Co. 0.55%, 5/26/2023 | 5 | 5 |
Pacific Gas and Electric Co. | ||
1.37%, 3/10/2023 | 10 | 10 |
1.70%, 11/15/2023 | 5 | 5 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Electric Utilities — continued | ||
3.25%, 2/16/2024 | 5 | 5 |
2.95%, 3/1/2026 | 4 | 3 |
3.75%, 8/15/2042 (f) | 4 | 3 |
4.30%, 3/15/2045 | 1 | 1 |
PacifiCorp 4.15%, 2/15/2050 | 12 | 11 |
PG&E Wildfire Recovery Funding LLC Series A-2, 4.26%, 6/1/2036 | 5 | 5 |
Southern California Edison Co. Series 20C, 1.20%, 2/1/2026 | 12 | 11 |
Union Electric Co. 3.90%, 4/1/2052 | 4 | 3 |
Vistra Operations Co. LLC 4.88%, 5/13/2024 (d) | 7 | 7 |
140 | ||
Energy Equipment & Services — 0.0% ^ | ||
Schlumberger Holdings Corp. 4.00%, 12/21/2025 (d) | 7 | 7 |
Entertainment — 0.1% | ||
Activision Blizzard, Inc. 1.35%, 9/15/2030 | 4 | 3 |
Take-Two Interactive Software, Inc. 3.70%, 4/14/2027 | 6 | 6 |
Walt Disney Co. (The) 3.50%, 5/13/2040 | 11 | 9 |
18 | ||
Equity Real Estate Investment Trusts (REITs) — 0.6% | ||
American Tower Corp. | ||
1.50%, 1/31/2028 | 5 | 4 |
1.88%, 10/15/2030 | 27 | 21 |
3.10%, 6/15/2050 | 7 | 5 |
2.95%, 1/15/2051 | 4 | 3 |
Brixmor Operating Partnership LP | ||
2.25%, 4/1/2028 | 10 | 9 |
2.50%, 8/16/2031 | 5 | 4 |
Corporate Office Properties LP 2.75%, 4/15/2031 | 5 | 4 |
CubeSmart LP 2.00%, 2/15/2031 | 11 | 9 |
Digital Realty Trust LP 3.70%, 8/15/2027 | 7 | 7 |
Equinix, Inc. 2.90%, 11/18/2026 | 11 | 10 |
Federal Realty OP LP 1.25%, 2/15/2026 | 7 | 6 |
Healthcare Trust of America Holdings LP 2.00%, 3/15/2031 | 7 | 5 |
Healthpeak Properties, Inc. 2.13%, 12/1/2028 | 6 | 5 |
Life Storage LP 2.40%, 10/15/2031 | 5 | 4 |
Office Properties Income Trust 2.40%, 2/1/2027 | 10 | 8 |
Physicians Realty LP 2.63%, 11/1/2031 | 5 | 4 |
Public Storage 1.95%, 11/9/2028 | 3 | 3 |
Realty Income Corp. 1.80%, 3/15/2033 | 5 | 4 |
32 | J.P. Morgan Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
Sabra Health Care LP 3.20%, 12/1/2031 | 5 | 4 |
Safehold Operating Partnership LP 2.85%, 1/15/2032 | 7 | 6 |
Scentre Group Trust 1 (Australia) 3.63%, 1/28/2026 (d) | 14 | 13 |
UDR, Inc. | ||
2.10%, 8/1/2032 | 7 | 5 |
1.90%, 3/15/2033 | 5 | 4 |
WP Carey, Inc. | ||
2.40%, 2/1/2031 | 11 | 9 |
2.45%, 2/1/2032 | 10 | 8 |
164 | ||
Food & Staples Retailing — 0.2% | ||
7-Eleven, Inc. | ||
0.63%, 2/10/2023 (d) | 15 | 15 |
0.95%, 2/10/2026 (d) | 2 | 2 |
1.30%, 2/10/2028 (d) | 2 | 2 |
2.50%, 2/10/2041 (d) | 3 | 2 |
Alimentation Couche-Tard, Inc. (Canada) | ||
3.44%, 5/13/2041 (d) | 5 | 4 |
3.63%, 5/13/2051 (d) | 5 | 3 |
Kroger Co. (The) 4.45%, 2/1/2047 | 5 | 4 |
Sysco Corp. 2.40%, 2/15/2030 | 11 | 9 |
41 | ||
Food Products — 0.1% | ||
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 3 | 2 |
Kraft Heinz Foods Co. | ||
4.63%, 10/1/2039 | 5 | 4 |
4.38%, 6/1/2046 | 3 | 3 |
Smithfield Foods, Inc. 3.00%, 10/15/2030 (d) | 11 | 9 |
18 | ||
Gas Utilities — 0.1% | ||
Atmos Energy Corp. | ||
0.63%, 3/9/2023 | 5 | 5 |
1.50%, 1/15/2031 | 6 | 5 |
CenterPoint Energy Resources Corp. 1.75%, 10/1/2030 | 11 | 9 |
19 | ||
Health Care Providers & Services — 0.2% | ||
Banner Health 1.90%, 1/1/2031 | 4 | 3 |
Bon Secours Mercy Health, Inc. Series 20-2, 3.21%, 6/1/2050 | 5 | 4 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Health Care Providers & Services — continued | ||
Elevance Health, Inc. 2.25%, 5/15/2030 | 7 | 6 |
HCA, Inc. 5.25%, 6/15/2026 | 23 | 23 |
MedStar Health, Inc. Series 20A, 3.63%, 8/15/2049 | 5 | 4 |
MultiCare Health System 2.80%, 8/15/2050 | 2 | 1 |
Piedmont Healthcare, Inc. 2.86%, 1/1/2052 | 5 | 4 |
Universal Health Services, Inc. 2.65%, 10/15/2030 (d) | 3 | 2 |
West Virginia United Health System Obligated Group Series 2020, 3.13%, 6/1/2050 | 20 | 15 |
62 | ||
Hotels, Restaurants & Leisure — 0.0% ^ | ||
Starbucks Corp. 3.35%, 3/12/2050 | 7 | 5 |
Household Durables — 0.0% ^ | ||
Lennar Corp. 4.50%, 4/30/2024 | 2 | 2 |
Independent Power and Renewable Electricity Producers — 0.2% | ||
Alexander Funding Trust 1.84%, 11/15/2023 (d) | 15 | 14 |
Constellation Energy Generation LLC 3.25%, 6/1/2025 | 21 | 20 |
Southern Power Co. 5.15%, 9/15/2041 | 16 | 15 |
49 | ||
Insurance — 0.3% | ||
American International Group, Inc. 4.38%, 6/30/2050 | 7 | 6 |
Athene Global Funding | ||
0.95%, 1/8/2024 (d) | 11 | 10 |
2.75%, 6/25/2024 (d) | 7 | 7 |
2.50%, 1/14/2025 (d) | 4 | 4 |
1.45%, 1/8/2026 (d) | 10 | 9 |
Berkshire Hathaway Finance Corp. 3.85%, 3/15/2052 | 5 | 4 |
Brown & Brown, Inc. 2.38%, 3/15/2031 | 7 | 6 |
Corebridge Financial, Inc. 3.85%, 4/5/2029 (d) | 5 | 5 |
Empower Finance 2020 LP (Canada) 3.08%, 9/17/2051 (d) | 7 | 5 |
F&G Global Funding 1.75%, 6/30/2026 (d) | 5 | 4 |
New York Life Insurance Co. 3.75%, 5/15/2050 (d) | 7 | 6 |
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (d) | 5 | 4 |
Teachers Insurance & Annuity Association of America 3.30%, 5/15/2050 (d) | 7 | 5 |
75 |
June 30, 2022 | J.P. Morgan Funds | 33 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Internet & Direct Marketing Retail — 0.0% ^ | ||
Amazon.com, Inc. 3.95%, 4/13/2052 | 5 | 5 |
IT Services — 0.0% ^ | ||
Global Payments, Inc. 3.20%, 8/15/2029 | 4 | 3 |
Machinery — 0.0% ^ | ||
Otis Worldwide Corp. 3.11%, 2/15/2040 | 7 | 5 |
Media — 0.1% | ||
Charter Communications Operating LLC | ||
2.80%, 4/1/2031 | 11 | 9 |
3.50%, 6/1/2041 | 10 | 7 |
Comcast Corp. | ||
3.25%, 11/1/2039 | 11 | 9 |
2.80%, 1/15/2051 | 3 | 2 |
Discovery Communications LLC 3.63%, 5/15/2030 | 11 | 10 |
37 | ||
Metals & Mining — 0.1% | ||
Glencore Funding LLC (Australia) 2.50%, 9/1/2030 (d) | 12 | 10 |
Steel Dynamics, Inc. 1.65%, 10/15/2027 | 5 | 4 |
Vale Overseas Ltd. (Brazil) 3.75%, 7/8/2030 | 4 | 4 |
18 | ||
Multiline Retail — 0.0% ^ | ||
Nordstrom, Inc. 4.25%, 8/1/2031 | 10 | 8 |
Multi-Utilities — 0.0% ^ | ||
WEC Energy Group, Inc. 1.38%, 10/15/2027 | 11 | 10 |
Oil, Gas & Consumable Fuels — 0.4% | ||
Boardwalk Pipelines LP 4.45%, 7/15/2027 | 5 | 5 |
BP Capital Markets America, Inc. | ||
3.63%, 4/6/2030 | 5 | 5 |
2.77%, 11/10/2050 | 11 | 8 |
Coterra Energy, Inc. 3.90%, 5/15/2027 (d) | 5 | 5 |
Diamondback Energy, Inc. 3.25%, 12/1/2026 | 9 | 9 |
Energy Transfer LP 5.00%, 5/15/2044 (f) | 10 | 8 |
Enterprise Products Operating LLC 4.45%, 2/15/2043 | 5 | 4 |
Exxon Mobil Corp. 3.00%, 8/16/2039 | 11 | 9 |
Flex Intermediate Holdco LLC | ||
3.36%, 6/30/2031 (d) | 5 | 4 |
4.32%, 12/30/2039 (d) | 5 | 4 |
Gray Oak Pipeline LLC | ||
2.60%, 10/15/2025 (d) | 14 | 13 |
3.45%, 10/15/2027 (d) | 6 | 5 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Oil, Gas & Consumable Fuels — continued | ||
HF Sinclair Corp. 2.63%, 10/1/2023 (d) | 7 | 7 |
NGPL PipeCo LLC 3.25%, 7/15/2031 (d) | 5 | 4 |
Phillips 66 Co. 3.55%, 10/1/2026 (d) | 7 | 7 |
Sabine Pass Liquefaction LLC 5.63%, 3/1/2025 | 7 | 7 |
TotalEnergies Capital International SA (France) 2.99%, 6/29/2041 | 7 | 5 |
109 | ||
Pharmaceuticals — 0.1% | ||
Bristol-Myers Squibb Co. | ||
4.13%, 6/15/2039 | 5 | 5 |
2.35%, 11/13/2040 | 9 | 7 |
Merck & Co., Inc. 2.35%, 6/24/2040 | 7 | 5 |
Utah Acquisition Sub, Inc. 3.95%, 6/15/2026 | 11 | 10 |
Viatris, Inc. 3.85%, 6/22/2040 | 11 | 8 |
35 | ||
Road & Rail — 0.1% | ||
CSX Corp. 3.80%, 11/1/2046 | 5 | 4 |
Kansas City Southern 4.70%, 5/1/2048 | 3 | 3 |
Norfolk Southern Corp. 3.05%, 5/15/2050 | 5 | 4 |
Penske Truck Leasing Co. LP 1.20%, 11/15/2025 (d) | 11 | 10 |
Triton Container International Ltd. (Bermuda) 2.05%, 4/15/2026 (d) | 15 | 13 |
Union Pacific Corp. 3.55%, 8/15/2039 | 5 | 4 |
38 | ||
Semiconductors & Semiconductor Equipment — 0.2% | ||
Analog Devices, Inc. 2.80%, 10/1/2041 | 4 | 3 |
Broadcom, Inc. 1.95%, 2/15/2028 (d) | 9 | 8 |
KLA Corp. 3.30%, 3/1/2050 | 6 | 5 |
Microchip Technology, Inc. | ||
0.97%, 2/15/2024 | 10 | 9 |
0.98%, 9/1/2024 | 3 | 3 |
NXP BV (China) 3.25%, 5/11/2041 | 5 | 4 |
Xilinx, Inc. 2.38%, 6/1/2030 | 12 | 10 |
42 | ||
Software — 0.1% | ||
Oracle Corp. 3.80%, 11/15/2037 | 5 | 4 |
Roper Technologies, Inc. 1.75%, 2/15/2031 | 4 | 3 |
VMware, Inc. | ||
1.40%, 8/15/2026 | 7 | 6 |
4.70%, 5/15/2030 | 11 | 11 |
24 |
34 | J.P. Morgan Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Specialty Retail — 0.1% | ||
AutoZone, Inc. 3.63%, 4/15/2025 | 11 | 11 |
Lowe's Cos., Inc. 3.70%, 4/15/2046 | 7 | 6 |
Tractor Supply Co. 1.75%, 11/1/2030 | 8 | 6 |
23 | ||
Technology Hardware, Storage & Peripherals — 0.1% | ||
Dell International LLC 6.20%, 7/15/2030 | 18 | 19 |
Tobacco — 0.1% | ||
Altria Group, Inc. 2.45%, 2/4/2032 | 10 | 8 |
BAT Capital Corp. (United Kingdom) | ||
2.26%, 3/25/2028 | 13 | 11 |
4.39%, 8/15/2037 | 5 | 4 |
3.73%, 9/25/2040 | 6 | 4 |
27 | ||
Trading Companies & Distributors — 0.1% | ||
Air Lease Corp. | ||
3.38%, 7/1/2025 | 5 | 5 |
1.88%, 8/15/2026 | 15 | 13 |
18 | ||
Wireless Telecommunication Services — 0.1% | ||
Rogers Communications, Inc. (Canada) 4.55%, 3/15/2052 (d) | 5 | 5 |
T-Mobile USA, Inc. 2.55%, 2/15/2031 | 17 | 14 |
19 | ||
Total Corporate Bonds (Cost $1,915) | 1,595 | |
Mortgage-Backed Securities — 5.1% | ||
FHLMC UMBS, 30 Year | ||
Pool # ZL3032 3.50%, 5/1/2042 | 9 | 9 |
Pool # QB4026 2.50%, 10/1/2050 | 25 | 23 |
Pool # QB4045 2.50%, 10/1/2050 | 15 | 14 |
Pool # QB4484 2.50%, 10/1/2050 | 9 | 8 |
Pool # QB4542 2.50%, 10/1/2050 | 8 | 8 |
Pool # RA4224 3.00%, 11/1/2050 | 4 | 4 |
Pool # QB8503 2.50%, 2/1/2051 | 13 | 12 |
Pool # QC4789 3.00%, 7/1/2051 | 15 | 14 |
Pool # QE1832 4.50%, 5/1/2052 | 30 | 31 |
FNMA UMBS, 30 Year | ||
Pool # CA2826 5.50%, 12/1/2048 | 16 | 16 |
Pool # FM3118 3.00%, 5/1/2050 | 6 | 6 |
Pool # BQ2894 3.00%, 9/1/2050 | 12 | 11 |
Pool # BQ3996 2.50%, 10/1/2050 | 11 | 10 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Pool # BQ5243 3.50%, 10/1/2050 | 4 | 4 |
Pool # CA7398 3.50%, 10/1/2050 | 14 | 14 |
Pool # CA8637 4.00%, 1/1/2051 | 31 | 31 |
Pool # BU1805 2.50%, 12/1/2051 | 22 | 20 |
Pool # CB2637 2.50%, 1/1/2052 | 15 | 13 |
Pool # BU3079 3.00%, 1/1/2052 | 10 | 9 |
Pool # BV0273 3.00%, 1/1/2052 | 10 | 9 |
Pool # CB2670 3.00%, 1/1/2052 | 15 | 14 |
Pool # BV4831 3.00%, 2/1/2052 | 5 | 5 |
Pool # BV0295 3.50%, 2/1/2052 | 20 | 19 |
Pool # BV3950 4.00%, 2/1/2052 | 10 | 10 |
Pool # BV6743 4.50%, 5/1/2052 | 25 | 25 |
FNMA, Other | ||
Pool # AN2009 2.70%, 7/1/2026 | 38 | 37 |
Pool # AM3010 5.07%, 3/1/2028 | 9 | 9 |
Pool # BL8639 1.09%, 4/1/2028 | 15 | 13 |
Pool # AM5319 4.34%, 1/1/2029 | 9 | 9 |
Pool # BS4290 1.95%, 10/1/2029 | 100 | 90 |
Pool # BS0448 1.27%, 12/1/2029 | 20 | 17 |
Pool # BL9748 1.60%, 12/1/2029 | 5 | 4 |
Pool # AN7593 2.99%, 12/1/2029 | 5 | 5 |
Pool # AN8285 3.11%, 3/1/2030 | 5 | 5 |
Pool # AM8544 3.08%, 4/1/2030 | 5 | 4 |
Pool # BL9251 1.45%, 10/1/2030 | 20 | 17 |
Pool # AM4789 4.18%, 11/1/2030 | 18 | 18 |
Pool # BL9891 1.37%, 12/1/2030 | 10 | 8 |
Pool # AN6149 3.14%, 7/1/2032 | 30 | 29 |
Pool # BM3226 3.44%, 10/1/2032 (g) | 29 | 29 |
Pool # AN7923 3.33%, 1/1/2033 | 10 | 10 |
Pool # AN9067 3.51%, 5/1/2033 | 5 | 5 |
Pool # BS5511 3.45%, 8/1/2033 | 25 | 24 |
Pool # BL1012 4.03%, 12/1/2033 | 10 | 10 |
Pool # BL0900 4.08%, 2/1/2034 | 10 | 10 |
Pool # AN4430 3.61%, 1/1/2037 | 12 | 12 |
Pool # BF0230 5.50%, 1/1/2058 | 22 | 24 |
Pool # BF0497 3.00%, 7/1/2060 | 11 | 11 |
GNMA II, 30 Year | ||
Pool # BY3432 3.50%, 9/20/2050 | 15 | 15 |
Pool # BR3929 3.50%, 10/20/2050 | 9 | 8 |
Pool # BW1726 3.50%, 10/20/2050 | 16 | 16 |
Pool # BS8546 2.50%, 12/20/2050 | 29 | 26 |
Pool # BR3928 3.00%, 12/20/2050 | 34 | 33 |
Pool # BU7538 3.00%, 12/20/2050 | 28 | 27 |
Pool # 785294 3.50%, 1/20/2051 | 29 | 29 |
Pool # CA8452 3.00%, 2/20/2051 | 36 | 35 |
June 30, 2022 | J.P. Morgan Funds | 35 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Mortgage-Backed Securities — continued | ||
Pool # CB1543 3.00%, 2/20/2051 | 28 | 27 |
Pool # CA3588 3.50%, 2/20/2051 | 27 | 27 |
Pool # CB1536 3.50%, 2/20/2051 | 27 | 26 |
Pool # CB1542 3.00%, 3/20/2051 | 35 | 33 |
Pool # CB4433 3.00%, 3/20/2051 | 29 | 27 |
Pool # CC0070 3.00%, 3/20/2051 | 33 | 32 |
Pool # CC8738 3.00%, 3/20/2051 | 29 | 28 |
Pool # CC8723 3.50%, 3/20/2051 | 33 | 32 |
Pool # CC8727 3.00%, 4/20/2051 | 20 | 19 |
Pool # CC8739 3.00%, 4/20/2051 | 24 | 23 |
Pool # CC8740 3.00%, 4/20/2051 | 24 | 22 |
Pool # CC8751 3.00%, 4/20/2051 | 27 | 25 |
Pool # CA3563 3.50%, 7/20/2051 | 15 | 15 |
Pool # CE2586 3.50%, 7/20/2051 | 24 | 23 |
Pool # CK1527 3.50%, 12/20/2051 | 20 | 19 |
Pool # CJ8184 3.50%, 1/20/2052 | 20 | 19 |
Pool # CK2716 3.50%, 2/20/2052 | 15 | 15 |
GNMA II, Other Pool # 785183 2.94%, 10/20/2070 (g) | 20 | 19 |
Total Mortgage-Backed Securities (Cost $1,506) | 1,359 | |
Asset-Backed Securities — 3.1% | ||
ACC Auto Trust Series 2021-A, Class A, 1.08%, 4/15/2027 (d) | 42 | 41 |
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2, 1.94%, 8/15/2046 (d) | 25 | 22 |
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA, 3.20%, 6/15/2028 | 19 | 17 |
Series 2016-3, Class AA, 3.00%, 10/15/2028 | 19 | 17 |
Series 2021-1, Class B, 3.95%, 7/11/2030 | 14 | 12 |
Series 2019-1, Class AA, 3.15%, 2/15/2032 | 25 | 22 |
AmeriCredit Automobile Receivables Trust Series 2018-3, Class D, 4.04%, 11/18/2024 | 15 | 15 |
Business Jet Securities LLC Series 2021-1A, Class A, 2.16%, 4/15/2036 (d) | 76 | 69 |
CarMax Auto Owner Trust Series 2019-3, Class C, 2.60%, 6/16/2025 | 15 | 15 |
Carvana Auto Receivables Trust | ||
Series 2019-4A, Class D, 3.07%, 7/15/2025 (d) | 35 | 35 |
Series 2020-P1, Class C, 1.32%, 11/9/2026 | 15 | 14 |
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (d) | 25 | 22 |
Delta Air Lines Pass-Through Trust Series 2020-1, Class A, 2.50%, 6/10/2028 | 8 | 7 |
Drive Auto Receivables Trust Series 2020-1, Class D, 2.70%, 5/17/2027 | 35 | 34 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
DT Auto Owner Trust | ||
Series 2021-1A, Class C, 0.84%, 10/15/2026 (d) | 10 | 9 |
Series 2021-2A, Class C, 1.10%, 2/16/2027 (d) | 25 | 24 |
Series 2021-4A, Class D, 1.99%, 9/15/2027 (d) | 25 | 23 |
Exeter Automobile Receivables Trust Series 2021-2A, Class C, 0.98%, 6/15/2026 | 15 | 14 |
FHF Trust Series 2021-1A, Class A, 1.27%, 3/15/2027 (d) | 19 | 18 |
First Investors Auto Owner Trust Series 2021-1A, Class B, 0.89%, 3/15/2027 (d) | 10 | 10 |
Flagship Credit Auto Trust | ||
Series 2021-1, Class B, 0.68%, 2/16/2027 (d) | 10 | 10 |
Series 2020-4, Class C, 1.28%, 2/16/2027 (d) | 10 | 9 |
GLS Auto Receivables Issuer Trust | ||
Series 2020-4A, Class B, 0.87%, 12/16/2024 (d) | 6 | 6 |
Series 2021-2A, Class B, 0.77%, 9/15/2025 (d) | 10 | 10 |
JetBlue Pass-Through Trust Series 2020-1, Class B, 7.75%, 11/15/2028 | 6 | 6 |
Pagaya AI Debt Selection Trust | ||
Series 2021-1, Class A, 1.18%, 11/15/2027 (d) | 45 | 44 |
Series 2021-HG1, Class A, 1.22%, 1/16/2029 (d) | 72 | 68 |
Series 2021-3, Class A, 1.15%, 5/15/2029 (d) | 67 | 66 |
Santander Consumer Auto Receivables Trust Series 2021-AA, Class B, 0.71%, 8/17/2026 (d) | 10 | 9 |
Santander Drive Auto Receivables Trust Series 2019-3, Class D, 2.68%, 10/15/2025 | 19 | 19 |
United Airlines Pass-Through Trust | ||
Series 2016-2, Class B, 3.65%, 10/7/2025 | 3 | 3 |
Series 2019-2, Class B, 3.50%, 5/1/2028 | 8 | 7 |
Series 2016-2, Class A, 3.10%, 10/7/2028 | 4 | 3 |
Series 2018-1, Class A, 3.70%, 3/1/2030 | 8 | 7 |
United Auto Credit Securitization Trust Series 2021-1, Class C, 0.84%, 6/10/2026 (d) | 20 | 20 |
Veros Auto Receivables Trust Series 2021-1, Class A, 0.92%, 10/15/2026 (d) | 28 | 27 |
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 ‡ (d) (f) | 71 | 68 |
Westlake Automobile Receivables Trust Series 2020-3A, Class C, 1.24%, 11/17/2025 (d) | 10 | 10 |
Total Asset-Backed Securities (Cost $882) | 832 |
36 | J.P. Morgan Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Commercial Mortgage-Backed Securities — 0.8% | ||
ACRE Commercial Mortgage Ltd. | ||
Series 2021-FL4, Class A, 2.44%, 12/18/2037 (d) (g) | 10 | 9 |
Series 2021-FL4, Class AS, 2.71%, 12/18/2037 (d) (g) | 10 | 10 |
BPR Trust Series 2021-KEN, Class A, 2.57%, 2/15/2029 (d) (g) | 20 | 20 |
FHLMC, Multi-Family Structured Credit Risk Series 2021-MN2, Class M1, 2.73%, 7/25/2041 (d) (g) | 29 | 26 |
FHLMC, Multi-Family Structured Pass-Through Certificates | ||
Series K-1511, Class A1, 3.28%, 10/25/2030 | 14 | 14 |
Series K-1510, Class A2, 3.72%, 1/25/2031 | 5 | 5 |
FNMA ACES | ||
Series 2022-M1S, Class A2, 2.08%, 4/25/2032 | 30 | 26 |
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033 | 6 | 6 |
Series 2021-M3, Class X1, IO, 2.09%, 11/25/2033 (g) | 92 | 11 |
FNMA, Other 3.08%, 1/1/2029 | 25 | 25 |
FREMF Mortgage Trust | ||
Series 2017-KGX1, Class BFX, 3.71%, 10/25/2027 (d) (g) | 10 | 9 |
Series 2016-K56, Class B, 4.08%, 6/25/2049 (d) (g) | 5 | 5 |
Series 2016-K58, Class B, 3.87%, 9/25/2049 (d) (g) | 25 | 24 |
Series 2017-K728, Class C, 3.76%, 11/25/2050 (d) (g) | 10 | 10 |
KKR Industrial Portfolio Trust Series 2021-KDIP, Class B, 2.12%, 12/15/2037 ‡ (d) (g) | 8 | 7 |
Total Commercial Mortgage-Backed Securities (Cost $219) | 207 | |
Collateralized Mortgage Obligations — 0.6% | ||
FNMA Trust, Whole Loan Series 2002-W8, Class A1, 6.50%, 6/25/2042 | 7 | 7 |
FNMA, Grantor Trust, Whole Loan Series 2001-T12, Class A1, 6.50%, 8/25/2041 | 3 | 3 |
FNMA, REMIC | ||
Series 2018-72, Class VB, 3.50%, 10/25/2031 | 8 | 8 |
Series 2019-7, Class CA, 3.50%, 11/25/2057 | 31 | 31 |
FNMA, REMIC Trust, Whole Loan Series 2002-W3, Class A4, 6.50%, 11/25/2041 | 13 | 14 |
Seasoned Credit Risk Transfer Trust | ||
Series 2018-1, Class M60C, 3.50%, 5/25/2057 | 16 | 16 |
Series 2019-2, Class M55D, 4.00%, 8/25/2058 ‡ | 11 | 11 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2019-3, Class M55D, 4.00%, 10/25/2058 ‡ | 10 | 10 |
Series 2020-3, Class M5TW, 3.00%, 5/25/2060 ‡ | 26 | 25 |
Series 2020-3, Class TTW, 3.00%, 5/25/2060 ‡ | 30 | 30 |
Total Collateralized Mortgage Obligations (Cost $161) | 155 | |
SHARES (000) | ||
Short Term Investments — 8.6% | ||
Investment Companies — 8.6% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (h) (Cost $2,278) | 2,278 | 2,278 |
Total Investments — 100.1% (Cost $28,177) | 26,629 | |
Liabilities in Excess of Other Assets — (0.1)% | (25) | |
NET ASSETS — 100.0% | 26,604 |
Percentages indicated are based on net assets. |
Abbreviations | |
ACES | Alternative Credit Enhancement Securities |
ETF | Exchange Traded Fund |
FHLMC | Federal Home Loan Mortgage Corp. |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
ICE | Intercontinental Exchange |
IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. |
LIBOR | London Interbank Offered Rate |
REIT | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. |
UMBS | Uniform Mortgage-Backed Securities |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. |
June 30, 2022 | J.P. Morgan Funds | 37 |
AS OF June 30, 2022 (continued)
‡ | Value determined using significant unobservable inputs. | |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. | |
(c) | The rate shown is the effective yield as of June 30, 2022. | |
(d) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(e) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022. | |
(f) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of June 30, 2022. |
(g) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022. | |
(h) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Short Contracts | |||||
DJ US Real Estate Index | (3) | 09/16/2022 | USD | (107) | (4) |
MSCI EAFE E-Mini Index | (2) | 09/16/2022 | USD | (186) | —(a) |
MSCI Emerging Markets E-Mini Index | (4) | 09/16/2022 | USD | (201) | (1) |
(5) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
(a) | Amount rounds to less than one thousand. |
38 | J.P. Morgan Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 40.3% | ||
Fixed Income — 16.5% | ||
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 12,782 | 95,225 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 3,140 | 18,241 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 1,509 | 12,454 |
JPMorgan High Yield Fund Class R6 Shares (a) | 7,484 | 46,029 |
Total Fixed Income | 171,949 | |
International Equity — 4.7% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 3,117 | 48,966 |
U.S. Equity — 19.1% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 3,486 | 198,082 |
Total Investment Companies (Cost $417,458) | 418,997 | |
Exchange-Traded Funds — 29.8% | ||
Alternative Assets — 1.3% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 153 | 13,419 |
Fixed Income — 14.9% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 124 | 5,417 |
JPMorgan Inflation Managed Bond ETF (a) | 1,618 | 78,135 |
JPMorgan U.S. Aggregate Bond ETF (a) | 1,492 | 71,571 |
Total Fixed Income | 155,123 | |
International Equity — 9.3% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 2,050 | 96,934 |
U.S. Equity — 4.3% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 342 | 23,860 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 403 | 20,303 |
Total U.S. Equity | 44,163 | |
Total Exchange-Traded Funds (Cost $320,627) | 309,639 | |
PRINCIPAL AMOUNT ($000) | ||
Corporate Bonds — 6.0% | ||
Aerospace & Defense — 0.2% | ||
Boeing Co. (The) | ||
2.75%, 2/1/2026 | 70 | 65 |
2.20%, 2/4/2026 | 45 | 40 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Aerospace & Defense — continued | ||
2.70%, 2/1/2027 | 1,403 | 1,249 |
3.45%, 11/1/2028 | 155 | 138 |
L3Harris Technologies, Inc. 1.80%, 1/15/2031 | 80 | 64 |
Northrop Grumman Corp. | ||
5.15%, 5/1/2040 | 191 | 193 |
3.85%, 4/15/2045 | 209 | 176 |
Raytheon Technologies Corp. 2.25%, 7/1/2030 | 322 | 278 |
2,203 | ||
Airlines — 0.1% | ||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 | 549 | 467 |
Automobiles — 0.1% | ||
General Motors Co. 6.80%, 10/1/2027 | 300 | 316 |
Hyundai Capital America | ||
1.15%, 11/10/2022 (b) | 834 | 828 |
1.30%, 1/8/2026 (b) | 80 | 71 |
Nissan Motor Co. Ltd. (Japan) 3.52%, 9/17/2025 (b) | 253 | 239 |
1,454 | ||
Banks — 1.0% | ||
AIB Group plc (Ireland) 4.75%, 10/12/2023 (b) | 845 | 846 |
Banco Santander SA (Spain) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (c) | 200 | 174 |
2.75%, 12/3/2030 | 600 | 476 |
Bank of America Corp. | ||
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (c) | 594 | 566 |
(SOFR + 1.58%), 4.38%, 4/27/2028 (c) | 190 | 187 |
(SOFR + 1.93%), 2.68%, 6/19/2041 (c) | 950 | 684 |
Bank of Ireland Group plc (Ireland) | ||
4.50%, 11/25/2023 (b) | 360 | 359 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (b) (c) | 200 | 174 |
Barclays plc (United Kingdom) 4.34%, 1/10/2028 | 235 | 225 |
BNP Paribas SA (France) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 2.59%, 8/12/2035 (b) (c) | 230 | 181 |
Citigroup, Inc. (ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (c) | 328 | 283 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 39 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Banks — continued | ||
Commonwealth Bank of Australia (Australia) 3.31%, 3/11/2041 (b) | 250 | 189 |
Credit Agricole SA (France) | ||
4.38%, 3/17/2025 (b) | 400 | 393 |
(SOFR + 0.89%), 1.25%, 1/26/2027 (b) (c) | 250 | 220 |
HSBC Holdings plc (United Kingdom) | ||
(SOFR + 1.29%), 1.59%, 5/24/2027 (c) | 600 | 527 |
(SOFR + 1.73%), 2.01%, 9/22/2028 (c) | 1,495 | 1,279 |
Intesa Sanpaolo SpA (Italy) Series XR, 3.25%, 9/23/2024 (b) | 300 | 290 |
Lloyds Banking Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.63%, 5/11/2027 (c) | 200 | 178 |
Mizuho Financial Group, Inc. (Japan) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.23%, 5/22/2027 (c) | 200 | 175 |
NatWest Group plc (United Kingdom) (ICE LIBOR USD 3 Month + 1.87%), 4.44%, 5/8/2030 (c) | 315 | 297 |
Santander UK Group Holdings plc (United Kingdom) (SOFR + 0.99%), 1.67%, 6/14/2027 (c) | 200 | 175 |
Societe Generale SA (France) | ||
4.25%, 4/14/2025 (b) | 700 | 686 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.49%, 12/14/2026 (b) (c) | 260 | 229 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 6/9/2032 (b) | 415 | 331 |
UniCredit SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (b) (c) | 200 | 173 |
Wells Fargo & Co. | ||
4.30%, 7/22/2027 | 900 | 890 |
(SOFR + 2.53%), 3.07%, 4/30/2041 (c) | 53 | 41 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (c) | 200 | 185 |
Westpac Banking Corp. (Australia) | ||
2.96%, 11/16/2040 | 50 | 36 |
3.13%, 11/18/2041 | 165 | 121 |
10,570 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Beverages — 0.1% | ||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.75%, 7/15/2042 | 750 | 608 |
Keurig Dr Pepper, Inc. 3.80%, 5/1/2050 | 217 | 172 |
780 | ||
Biotechnology — 0.2% | ||
AbbVie, Inc. | ||
2.95%, 11/21/2026 | 235 | 223 |
4.05%, 11/21/2039 | 400 | 357 |
4.25%, 11/21/2049 | 180 | 160 |
Amgen, Inc. 3.15%, 2/21/2040 | 394 | 311 |
Biogen, Inc. 2.25%, 5/1/2030 | 114 | 93 |
Gilead Sciences, Inc. 2.60%, 10/1/2040 | 227 | 166 |
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030 | 379 | 304 |
1,614 | ||
Building Products — 0.0% ^ | ||
Masco Corp. 2.00%, 10/1/2030 | 245 | 194 |
Capital Markets — 0.6% | ||
Brookfield Finance, Inc. (Canada) 3.50%, 3/30/2051 | 301 | 216 |
Credit Suisse AG (Switzerland) 3.70%, 2/21/2025 | 500 | 488 |
Credit Suisse Group AG (Switzerland) | ||
(SOFR + 0.98%), 1.31%, 2/2/2027 (b) (c) | 250 | 215 |
4.28%, 1/9/2028 (b) | 995 | 929 |
Deutsche Bank AG (Germany) (SOFR + 1.87%), 2.13%, 11/24/2026 (c) | 735 | 653 |
Goldman Sachs Group, Inc. (The) | ||
4.25%, 10/21/2025 | 600 | 595 |
(SOFR + 1.11%), 2.64%, 2/24/2028 | 187 | 170 |
Macquarie Group Ltd. (Australia) | ||
(SOFR + 1.07%), 1.34%, 1/12/2027 (b) (c) | 370 | 325 |
(SOFR + 1.53%), 2.87%, 1/14/2033 (b) (c) | 200 | 163 |
Morgan Stanley | ||
5.00%, 11/24/2025 | 536 | 545 |
3.13%, 7/27/2026 | 487 | 465 |
S&P Global, Inc. | ||
2.70%, 3/1/2029 (b) | 202 | 184 |
4.25%, 5/1/2029 (b) | 233 | 230 |
40 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Capital Markets — continued | ||
UBS Group AG (Switzerland) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 4.49%, 5/12/2026 (b) (c) | 222 | 221 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (b) (c) | 450 | 357 |
5,756 | ||
Chemicals — 0.0% ^ | ||
DuPont de Nemours, Inc. 5.32%, 11/15/2038 | 170 | 168 |
International Flavors & Fragrances, Inc. 3.47%, 12/1/2050 (b) | 2 | 2 |
LYB International Finance III LLC 1.25%, 10/1/2025 | 111 | 100 |
270 | ||
Construction & Engineering — 0.0% ^ | ||
Quanta Services, Inc. 2.35%, 1/15/2032 | 270 | 209 |
Consumer Finance — 0.4% | ||
AerCap Ireland Capital DAC (Ireland) | ||
3.15%, 2/15/2024 | 300 | 290 |
6.50%, 7/15/2025 | 205 | 210 |
4.63%, 10/15/2027 | 810 | 762 |
3.00%, 10/29/2028 | 150 | 126 |
Avolon Holdings Funding Ltd. (Ireland) | ||
2.88%, 2/15/2025 (b) | 171 | 157 |
5.50%, 1/15/2026 (b) | 530 | 514 |
2.13%, 2/21/2026 (b) | 115 | 99 |
4.25%, 4/15/2026 (b) | 20 | 19 |
2.53%, 11/18/2027 (b) | 916 | 747 |
Capital One Financial Corp. (SOFR + 1.27%), 2.62%, 11/2/2032 (c) | 175 | 141 |
General Motors Financial Co., Inc. 3.80%, 4/7/2025 | 170 | 166 |
Park Aerospace Holdings Ltd. (Ireland) | ||
4.50%, 3/15/2023 (b) | 505 | 503 |
5.50%, 2/15/2024 (b) | 49 | 49 |
3,783 | ||
Containers & Packaging — 0.0% ^ | ||
Graphic Packaging International LLC 1.51%, 4/15/2026 (b) | 198 | 179 |
Diversified Consumer Services — 0.0% ^ | ||
University of Miami Series 2022, 4.06%, 4/1/2052 | 70 | 63 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Diversified Financial Services — 0.0% ^ | ||
Shell International Finance BV (Netherlands) 3.13%, 11/7/2049 | 205 | 157 |
Diversified Telecommunication Services — 0.1% | ||
AT&T, Inc. | ||
2.30%, 6/1/2027 | 522 | 476 |
3.50%, 6/1/2041 | 518 | 414 |
3.55%, 9/15/2055 | 305 | 228 |
Verizon Communications, Inc. 2.65%, 11/20/2040 | 185 | 136 |
1,254 | ||
Electric Utilities — 0.5% | ||
Duke Energy Indiana LLC Series YYY, 3.25%, 10/1/2049 | 97 | 75 |
Edison International 5.75%, 6/15/2027 | 195 | 198 |
Emera US Finance LP (Canada) 4.75%, 6/15/2046 | 197 | 173 |
Entergy Arkansas LLC 2.65%, 6/15/2051 | 72 | 50 |
Entergy Louisiana LLC | ||
4.00%, 3/15/2033 | 150 | 143 |
2.90%, 3/15/2051 | 60 | 43 |
Evergy, Inc. 2.90%, 9/15/2029 | 394 | 348 |
Fells Point Funding Trust 3.05%, 1/31/2027 (b) | 365 | 337 |
FirstEnergy Transmission LLC 4.55%, 4/1/2049 (b) | 179 | 144 |
Fortis, Inc. (Canada) 3.06%, 10/4/2026 | 251 | 236 |
ITC Holdings Corp. 2.95%, 5/14/2030 (b) | 126 | 111 |
Jersey Central Power & Light Co. 4.30%, 1/15/2026 (b) | 182 | 180 |
Massachusetts Electric Co. 4.00%, 8/15/2046 (b) | 98 | 81 |
New England Power Co. (United Kingdom) 2.81%, 10/6/2050 (b) | 253 | 170 |
NRG Energy, Inc. | ||
2.00%, 12/2/2025 (b) | 90 | 81 |
2.45%, 12/2/2027 (b) | 305 | 262 |
OGE Energy Corp. 0.70%, 5/26/2023 | 105 | 102 |
Pacific Gas and Electric Co. | ||
1.37%, 3/10/2023 | 425 | 418 |
1.70%, 11/15/2023 | 130 | 125 |
3.25%, 2/16/2024 | 315 | 307 |
3.45%, 7/1/2025 | 120 | 113 |
2.95%, 3/1/2026 | 264 | 240 |
3.75%, 8/15/2042 (d) | 71 | 48 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 41 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
4.30%, 3/15/2045 | 65 | 47 |
PacifiCorp 4.15%, 2/15/2050 | 113 | 102 |
PG&E Wildfire Recovery Funding LLC Series A-2, 4.26%, 6/1/2036 | 85 | 86 |
Southern California Edison Co. | ||
Series 20C, 1.20%, 2/1/2026 | 176 | 157 |
Series C, 4.13%, 3/1/2048 | 121 | 100 |
Union Electric Co. 3.90%, 4/1/2052 | 124 | 109 |
Vistra Operations Co. LLC 4.88%, 5/13/2024 (b) | 255 | 254 |
4,840 | ||
Entertainment — 0.1% | ||
Activision Blizzard, Inc. 1.35%, 9/15/2030 | 181 | 145 |
Take-Two Interactive Software, Inc. 3.70%, 4/14/2027 | 226 | 219 |
Walt Disney Co. (The) 3.50%, 5/13/2040 | 327 | 279 |
643 | ||
Equity Real Estate Investment Trusts (REITs) — 0.4% | ||
American Campus Communities Operating Partnership LP 2.25%, 1/15/2029 | 110 | 102 |
American Tower Corp. | ||
1.50%, 1/31/2028 | 155 | 129 |
1.88%, 10/15/2030 | 928 | 722 |
Brixmor Operating Partnership LP | ||
2.25%, 4/1/2028 | 140 | 120 |
2.50%, 8/16/2031 | 80 | 63 |
Corporate Office Properties LP 2.75%, 4/15/2031 | 225 | 182 |
Equinix, Inc. 2.90%, 11/18/2026 | 284 | 264 |
Healthcare Trust of America Holdings LP 2.00%, 3/15/2031 | 379 | 294 |
Healthpeak Properties, Inc. 2.13%, 12/1/2028 | 248 | 214 |
Life Storage LP 2.40%, 10/15/2031 | 220 | 175 |
Office Properties Income Trust 2.40%, 2/1/2027 | 275 | 225 |
Physicians Realty LP 2.63%, 11/1/2031 | 100 | 80 |
Realty Income Corp. 1.80%, 3/15/2033 | 220 | 168 |
Sabra Health Care LP 3.20%, 12/1/2031 | 160 | 127 |
Safehold Operating Partnership LP 2.85%, 1/15/2032 | 299 | 240 |
Scentre Group Trust 1 (Australia) 3.63%, 1/28/2026 (b) | 510 | 491 |
UDR, Inc. | ||
2.10%, 8/1/2032 | 380 | 295 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Equity Real Estate Investment Trusts (REITs) — continued | ||
1.90%, 3/15/2033 | 50 | 38 |
WP Carey, Inc. | ||
2.40%, 2/1/2031 | 148 | 121 |
2.25%, 4/1/2033 | 10 | 8 |
4,058 | ||
Food & Staples Retailing — 0.0% ^ | ||
7-Eleven, Inc. | ||
1.30%, 2/10/2028 (b) | 96 | 80 |
2.50%, 2/10/2041 (b) | 99 | 67 |
Alimentation Couche-Tard, Inc. (Canada) 3.63%, 5/13/2051 (b) | 225 | 163 |
CVS Pass-Through Trust Series 2014, 4.16%, 8/11/2036 (b) | 97 | 92 |
402 | ||
Food Products — 0.1% | ||
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 138 | 114 |
Kraft Heinz Foods Co. | ||
4.63%, 10/1/2039 | 155 | 136 |
4.38%, 6/1/2046 | 86 | 72 |
Smithfield Foods, Inc. 3.00%, 10/15/2030 (b) | 403 | 334 |
656 | ||
Gas Utilities — 0.0% ^ | ||
Atmos Energy Corp. 2.85%, 2/15/2052 | 175 | 125 |
CenterPoint Energy Resources Corp. 1.75%, 10/1/2030 | 176 | 143 |
268 | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
Boston Scientific Corp. 4.55%, 3/1/2039 | 63 | 59 |
DH Europe Finance II SARL 3.25%, 11/15/2039 | 103 | 85 |
144 | ||
Health Care Providers & Services — 0.2% | ||
Banner Health 1.90%, 1/1/2031 | 246 | 205 |
Bon Secours Mercy Health, Inc. Series 20-2, 3.21%, 6/1/2050 | 150 | 112 |
Children's Hospital of Philadelphia (The) Series 2020, 2.70%, 7/1/2050 | 185 | 130 |
CommonSpirit Health | ||
1.55%, 10/1/2025 | 65 | 60 |
2.78%, 10/1/2030 | 150 | 130 |
3.91%, 10/1/2050 | 65 | 52 |
HCA, Inc. | ||
5.25%, 6/15/2026 | 858 | 854 |
42 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Health Care Providers & Services — continued | ||
3.50%, 7/15/2051 | 83 | 57 |
4.63%, 3/15/2052 (b) | 92 | 74 |
MedStar Health, Inc. Series 20A, 3.63%, 8/15/2049 | 130 | 107 |
MidMichigan Health Series 2020, 3.41%, 6/1/2050 | 40 | 32 |
MultiCare Health System 2.80%, 8/15/2050 | 113 | 82 |
PeaceHealth Obligated Group Series 2020, 3.22%, 11/15/2050 | 135 | 101 |
Piedmont Healthcare, Inc. 2.86%, 1/1/2052 | 165 | 119 |
Universal Health Services, Inc. 2.65%, 10/15/2030 (b) | 137 | 109 |
West Virginia United Health System Obligated Group Series 2020, 3.13%, 6/1/2050 | 300 | 219 |
2,443 | ||
Hotels, Restaurants & Leisure — 0.0% ^ | ||
Starbucks Corp. 3.35%, 3/12/2050 | 205 | 155 |
Household Durables — 0.0% ^ | ||
Lennar Corp. 4.50%, 4/30/2024 | 65 | 65 |
Independent Power and Renewable Electricity Producers — 0.1% | ||
Alexander Funding Trust 1.84%, 11/15/2023 (b) | 650 | 622 |
Southern Power Co. 5.15%, 9/15/2041 | 205 | 193 |
815 | ||
Industrial Conglomerates — 0.1% | ||
GE Capital International Funding Co. Unlimited Co. 4.42%, 11/15/2035 | 484 | 452 |
Insurance — 0.2% | ||
Athene Global Funding | ||
2.50%, 1/14/2025 (b) | 111 | 105 |
1.45%, 1/8/2026 (b) | 400 | 356 |
Berkshire Hathaway Finance Corp. 3.85%, 3/15/2052 | 120 | 103 |
Brown & Brown, Inc. 2.38%, 3/15/2031 | 386 | 306 |
Corebridge Financial, Inc. 3.85%, 4/5/2029 (b) | 75 | 69 |
Empower Finance 2020 LP (Canada) 3.08%, 9/17/2051 (b) | 285 | 204 |
New York Life Insurance Co. 3.75%, 5/15/2050 (b) | 408 | 333 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Insurance — continued | ||
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (b) | 150 | 132 |
Teachers Insurance & Annuity Association of America 3.30%, 5/15/2050 (b) | 393 | 300 |
1,908 | ||
Internet & Direct Marketing Retail — 0.0% ^ | ||
Amazon.com, Inc. 3.95%, 4/13/2052 | 225 | 208 |
IT Services — 0.0% ^ | ||
CGI, Inc. (Canada) 1.45%, 9/14/2026 | 156 | 138 |
Global Payments, Inc. 3.20%, 8/15/2029 | 297 | 259 |
397 | ||
Machinery — 0.0% ^ | ||
Otis Worldwide Corp. 3.11%, 2/15/2040 | 100 | 77 |
Media — 0.1% | ||
Charter Communications Operating LLC | ||
2.80%, 4/1/2031 | 136 | 109 |
3.70%, 4/1/2051 | 403 | 273 |
Comcast Corp. | ||
3.25%, 11/1/2039 | 332 | 273 |
2.80%, 1/15/2051 | 172 | 122 |
Discovery Communications LLC 3.63%, 5/15/2030 | 203 | 180 |
957 | ||
Metals & Mining — 0.1% | ||
Anglo American Capital plc (South Africa) 3.63%, 9/11/2024 (b) | 235 | 231 |
Glencore Funding LLC (Australia) 2.50%, 9/1/2030 (b) | 315 | 257 |
Steel Dynamics, Inc. 1.65%, 10/15/2027 | 244 | 209 |
697 | ||
Multiline Retail — 0.0% ^ | ||
Nordstrom, Inc. 4.25%, 8/1/2031 | 217 | 164 |
Multi-Utilities — 0.0% ^ | ||
Berkshire Hathaway Energy Co. 2.85%, 5/15/2051 | 184 | 131 |
Consumers Energy Co. 3.25%, 8/15/2046 | 97 | 78 |
WEC Energy Group, Inc. 1.38%, 10/15/2027 | 199 | 172 |
381 | ||
Oil, Gas & Consumable Fuels — 0.4% | ||
Boardwalk Pipelines LP 4.45%, 7/15/2027 | 165 | 160 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 43 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
BP Capital Markets America, Inc. 2.77%, 11/10/2050 | 187 | 130 |
Coterra Energy, Inc. 3.90%, 5/15/2027 (b) | 125 | 120 |
Diamondback Energy, Inc. 3.25%, 12/1/2026 | 315 | 307 |
Energy Transfer LP | ||
3.90%, 7/15/2026 | 92 | 88 |
4.40%, 3/15/2027 | 345 | 334 |
5.00%, 5/15/2044 (d) | 420 | 351 |
Enterprise Products Operating LLC 4.45%, 2/15/2043 | 200 | 174 |
Exxon Mobil Corp. 3.00%, 8/16/2039 | 593 | 484 |
Flex Intermediate Holdco LLC | ||
3.36%, 6/30/2031 (b) | 140 | 114 |
4.32%, 12/30/2039 (b) | 100 | 78 |
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates) 2.94%, 9/30/2040 (b) | 196 | 160 |
Gray Oak Pipeline LLC | ||
2.60%, 10/15/2025 (b) | 455 | 425 |
3.45%, 10/15/2027 (b) | 259 | 237 |
HF Sinclair Corp. 5.88%, 4/1/2026 (b) | 97 | 98 |
MPLX LP 4.50%, 4/15/2038 | 205 | 180 |
NGPL PipeCo LLC 3.25%, 7/15/2031 (b) | 155 | 129 |
Phillips 66 Co. 3.55%, 10/1/2026 (b) | 194 | 188 |
Sabine Pass Liquefaction LLC 5.63%, 3/1/2025 | 402 | 410 |
Targa Resources Corp. 4.20%, 2/1/2033 | 60 | 54 |
TotalEnergies Capital International SA (France) 2.99%, 6/29/2041 | 394 | 310 |
4,531 | ||
Personal Products — 0.0% ^ | ||
GSK Consumer Healthcare Capital US LLC 4.00%, 3/24/2052 (b) | 250 | 214 |
Pharmaceuticals — 0.1% | ||
AstraZeneca plc (United Kingdom) 6.45%, 9/15/2037 | 45 | 54 |
Bristol-Myers Squibb Co. 4.13%, 6/15/2039 | 225 | 215 |
Takeda Pharmaceutical Co. Ltd. (Japan) 3.03%, 7/9/2040 | 700 | 539 |
Viatris, Inc. 4.00%, 6/22/2050 | 155 | 104 |
912 | ||
Road & Rail — 0.1% | ||
CSX Corp. 3.80%, 11/1/2046 | 191 | 162 |
Kansas City Southern 4.70%, 5/1/2048 | 143 | 135 |
Norfolk Southern Corp. 3.05%, 5/15/2050 | 187 | 137 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Road & Rail — continued | ||
Triton Container International Ltd. (Bermuda) 2.05%, 4/15/2026 (b) | 400 | 353 |
Union Pacific Corp. 3.55%, 8/15/2039 | 270 | 233 |
1,020 | ||
Semiconductors & Semiconductor Equipment — 0.2% | ||
Analog Devices, Inc. 2.80%, 10/1/2041 | 171 | 134 |
Broadcom, Inc. | ||
1.95%, 2/15/2028 (b) | 418 | 356 |
3.19%, 11/15/2036 (b) | 59 | 45 |
KLA Corp. 3.30%, 3/1/2050 | 242 | 192 |
Microchip Technology, Inc. | ||
0.97%, 2/15/2024 | 205 | 195 |
0.98%, 9/1/2024 | 224 | 209 |
NXP BV (China) 3.25%, 5/11/2041 | 265 | 199 |
TSMC Global Ltd. (Taiwan) 1.38%, 9/28/2030 (b) | 280 | 224 |
Xilinx, Inc. 2.38%, 6/1/2030 | 471 | 415 |
1,969 | ||
Software — 0.1% | ||
Oracle Corp. 3.80%, 11/15/2037 | 279 | 217 |
VMware, Inc. | ||
1.40%, 8/15/2026 | 308 | 272 |
4.70%, 5/15/2030 | 320 | 309 |
798 | ||
Specialty Retail — 0.0% ^ | ||
Lowe's Cos., Inc. 3.70%, 4/15/2046 | 402 | 322 |
Technology Hardware, Storage & Peripherals — 0.1% | ||
Dell International LLC 6.20%, 7/15/2030 | 762 | 793 |
Thrifts & Mortgage Finance — 0.1% | ||
BPCE SA (France) (SOFR + 1.52%), 1.65%, 10/6/2026 (b) (c) | 795 | 712 |
Tobacco — 0.1% | ||
Altria Group, Inc. 2.45%, 2/4/2032 | 285 | 215 |
BAT Capital Corp. (United Kingdom) | ||
2.26%, 3/25/2028 | 386 | 323 |
4.39%, 8/15/2037 | 205 | 163 |
3.73%, 9/25/2040 | 315 | 221 |
922 | ||
Trading Companies & Distributors — 0.1% | ||
Air Lease Corp. | ||
3.38%, 7/1/2025 | 345 | 325 |
44 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Trading Companies & Distributors — continued | ||
2.88%, 1/15/2026 | 180 | 165 |
1.88%, 8/15/2026 | 495 | 428 |
918 | ||
Wireless Telecommunication Services — 0.0% ^ | ||
America Movil SAB de CV (Mexico) 2.88%, 5/7/2030 | 200 | 179 |
Rogers Communications, Inc. (Canada) 4.55%, 3/15/2052 (b) | 100 | 88 |
267 | ||
Total Corporate Bonds (Cost $73,995) | 62,061 | |
Asset-Backed Securities — 4.9% | ||
ACC Auto Trust | ||
Series 2021-A, Class A, 1.08%, 4/15/2027 (b) | 277 | 272 |
Series 2021-A, Class B, 1.79%, 4/15/2027 (b) | 675 | 645 |
ACC Trust Series 2021-1, Class B, 1.43%, 7/22/2024 (b) | 560 | 555 |
Accelerated LLC Series 2021-1H, Class B, 1.90%, 10/20/2040 ‡ (b) | 350 | 320 |
Affirm Asset Securitization Trust Series 2021-A, Class A, 0.88%, 8/15/2025 (b) | 530 | 523 |
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2, 1.94%, 8/15/2046 (b) | 635 | 561 |
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA, 3.20%, 6/15/2028 | 537 | 490 |
Series 2016-3, Class AA, 3.00%, 10/15/2028 | 708 | 642 |
Series 2021-1, Class B, 3.95%, 7/11/2030 | 690 | 576 |
Series 2019-1, Class AA, 3.15%, 2/15/2032 | 855 | 756 |
AMSR Trust | ||
Series 2020-SFR2, Class E1, 4.03%, 7/17/2037 ‡ (b) | 315 | 302 |
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 ‡ (b) | 165 | 150 |
Series 2020-SFR4, Class D, 2.01%, 11/17/2037 ‡ (b) | 645 | 590 |
Series 2020-SFR4, Class E2, 2.46%, 11/17/2037 ‡ (b) | 290 | 265 |
Series 2021-SFR2, Class E2, 2.58%, 8/17/2038 ‡ (b) | 255 | 223 |
Aqua Finance Trust Series 2020-AA, Class C, 3.97%, 7/17/2046 ‡ (b) | 250 | 236 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Arivo Acceptance Auto Loan Receivables Trust Series 2021-1A, Class A, 1.19%, 1/15/2027 (b) | 109 | 106 |
Business Jet Securities LLC | ||
Series 2020-1A, Class A, 2.98%, 11/15/2035 (b) | 710 | 652 |
Series 2021-1A, Class A, 2.16%, 4/15/2036 (b) | 582 | 527 |
Series 2021-1A, Class B, 2.92%, 4/15/2036 ‡ (b) | 815 | 728 |
Series 2022-1A, Class A, 4.46%, 6/15/2037 (b) | 399 | 385 |
BXG Receivables Note Trust Series 2020-A, Class A, 1.55%, 2/28/2036 (b) | 311 | 288 |
Carvana Auto Receivables Trust Series 2020-P1, Class C, 1.32%, 11/9/2026 | 375 | 342 |
Continental Finance Credit Card ABS Master Trust Series 2020-1A, Class A, 2.24%, 12/15/2028 (b) | 170 | 160 |
CPS Auto Receivables Trust | ||
Series 2021-A, Class B, 0.61%, 2/18/2025 (b) | 111 | 111 |
Series 2021-B, Class C, 1.23%, 3/15/2027 (b) | 540 | 519 |
Credit Acceptance Auto Loan Trust Series 2020-2A, Class C, 2.73%, 11/15/2029 (b) | 645 | 622 |
Credito Real USA Auto Receivables Trust Series 2021-1A, Class A, 1.35%, 2/16/2027 (b) | 167 | 163 |
Crossroads Asset Trust Series 2021-A, Class A2, 0.82%, 3/20/2024 (b) | 88 | 86 |
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (b) | 405 | 366 |
Delta Air Lines Pass-Through Trust | ||
Series 2015-1, Class B, 4.25%, 7/30/2023 | 156 | 152 |
Series 2020-1, Class A, 2.50%, 6/10/2028 | 386 | 338 |
Diamond Resorts Owner Trust | ||
Series 2021-1A, Class A, 1.51%, 11/21/2033 (b) | 144 | 134 |
Series 2021-1A, Class C, 2.70%, 11/21/2033 ‡ (b) | 303 | 284 |
DT Auto Owner Trust | ||
Series 2021-1A, Class C, 0.84%, 10/15/2026 (b) | 315 | 301 |
Series 2022-2A, Class D, 5.46%, 3/15/2028 (b) | 235 | 229 |
Elara HGV Timeshare Issuer LLC | ||
Series 2021-A, Class B, 1.74%, 8/27/2035 ‡ (b) | 356 | 327 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 45 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Series 2021-A, Class C, 2.09%, 8/27/2035 ‡ (b) | 167 | 153 |
FHF Trust Series 2021-1A, Class A, 1.27%, 3/15/2027 (b) | 163 | 156 |
FirstKey Homes Trust | ||
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 ‡ (b) | 780 | 673 |
Series 2022-SFR1, Class E1, 5.00%, 5/17/2039 ‡ (b) | 255 | 237 |
Flagship Credit Auto Trust Series 2021-1, Class B, 0.68%, 2/16/2027 (b) | 410 | 397 |
FMC GMSR Issuer Trust Series 2021-GT2, Class A, 3.85%, 10/25/2026 (b) (e) | 550 | 491 |
FREED ABS Trust Series 2021-2, Class B, 1.03%, 6/19/2028 ‡ (b) | 596 | 589 |
GLS Auto Receivables Issuer Trust Series 2020-4A, Class B, 0.87%, 12/16/2024 (b) | 147 | 147 |
Home Partners of America Trust | ||
Series 2021-2, Class C, 2.40%, 12/17/2026 ‡ (b) | 849 | 759 |
Series 2021-3, Class D, 3.00%, 1/17/2041 ‡ (b) | 451 | 401 |
JetBlue Pass-Through Trust Series 2020-1, Class B, 7.75%, 11/15/2028 | 290 | 297 |
Lendbuzz Securitization Trust Series 2021-1A, Class A, 1.46%, 6/15/2026 (b) | 655 | 636 |
Lendingpoint Asset Securitization Trust | ||
Series 2021-A, Class A, 1.00%, 12/15/2028 (b) | 366 | 363 |
Series 2021-A, Class B, 1.46%, 12/15/2028 ‡ (b) | 370 | 358 |
Series 2021-B, Class A, 1.11%, 2/15/2029 (b) | 552 | 542 |
Series 2021-B, Class B, 1.68%, 2/15/2029 ‡ (b) | 430 | 405 |
LendingPoint Asset Securitization Trust Series 2020-REV1, Class A, 2.73%, 10/15/2028 (b) | 1,079 | 1,060 |
LL ABS Trust Series 2021-1A, Class A, 1.07%, 5/15/2029 (b) | 275 | 265 |
Mariner Finance Issuance Trust Series 2021-AA, Class A, 1.86%, 3/20/2036 (b) | 850 | 752 |
Marlette Funding Trust | ||
Series 2021-1A, Class A, 0.60%, 6/16/2031 (b) | 35 | 35 |
Series 2021-1A, Class B, 1.00%, 6/16/2031 ‡ (b) | 666 | 653 |
Mercury Financial Credit Card Master Trust Series 2021-1A, Class A, 1.54%, 3/20/2026 (b) | 910 | 866 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Mission Lane Credit Card Master Trust Series 2021-A, Class A, 1.59%, 9/15/2026 (b) | 725 | 698 |
MVW LLC Series 2021-2A, Class C, 2.23%, 5/20/2039 ‡ (b) | 912 | 832 |
NMEF Funding LLC Series 2021-A, Class B, 1.85%, 12/15/2027 ‡ (b) | 525 | 495 |
NRZ Excess Spread-Collateralized Notes | ||
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (b) | 539 | 512 |
Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (b) | 388 | 356 |
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (b) | 1,048 | 958 |
Octane Receivables Trust Series 2021-1A, Class A, 0.93%, 3/22/2027 (b) | 392 | 381 |
OneMain Financial Issuance Trust Series 2020-2A, Class D, 3.45%, 9/14/2035 ‡ (b) | 230 | 204 |
Oportun Issuance Trust Series 2021-B, Class A, 1.47%, 5/8/2031 (b) | 1,660 | 1,539 |
Orange Lake Timeshare Trust Series 2016-A, Class A, 2.61%, 3/8/2029 (b) | 115 | 112 |
Pagaya AI Debt Selection Trust | ||
Series 2021-1, Class A, 1.18%, 11/15/2027 (b) | 616 | 603 |
Series 2021-HG1, Class A, 1.22%, 1/16/2029 (b) | 977 | 929 |
Series 2021-3, Class A, 1.15%, 5/15/2029 (b) | 876 | 852 |
PRET LLC Series 2021-RN4, Class A1, 2.49%, 10/25/2051 (b) (e) | 926 | 882 |
Pretium Mortgage Credit Partners I LLC | ||
Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 ‡ (b) (d) | 1,129 | 1,069 |
Series 2021-NPL4, Class A1, 2.36%, 10/27/2060 ‡ (b) (d) | 840 | 789 |
Progress Residential Trust | ||
Series 2020-SFR3, Class A, 1.29%, 10/17/2027 (b) | 439 | 402 |
Series 2020-SFR3, Class B, 1.50%, 10/17/2027 ‡ (b) | 310 | 280 |
Series 2020-SFR1, Class E, 3.03%, 4/17/2037 ‡ (b) | 550 | 511 |
Series 2021-SFR2, Class D, 2.20%, 4/19/2038 ‡ (b) | 1,775 | 1,583 |
Regional Management Issuance Trust Series 2021-1, Class A, 1.68%, 3/17/2031 (b) | 770 | 710 |
46 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Republic Finance Issuance Trust | ||
Series 2020-A, Class A, 2.47%, 11/20/2030 (b) | 515 | 495 |
Series 2021-A, Class A, 2.30%, 12/22/2031 (b) | 1,254 | 1,163 |
Sierra Timeshare Receivables Funding LLC Series 2021-2A, Class B, 1.80%, 9/20/2038 ‡ (b) | 283 | 267 |
Theorem Funding Trust Series 2021-1A, Class A, 1.21%, 12/15/2027 (b) | 512 | 501 |
Tricolor Auto Securitization Trust | ||
Series 2021-1A, Class B, 1.00%, 6/17/2024 (b) | 270 | 266 |
Series 2021-1A, Class C, 1.33%, 9/16/2024 (b) | 310 | 304 |
United Airlines Pass-Through Trust | ||
Series 2016-2, Class B, 3.65%, 10/7/2025 | 157 | 143 |
Series 2019-2, Class B, 3.50%, 5/1/2028 | 364 | 315 |
Series 2016-2, Class A, 3.10%, 10/7/2028 | 168 | 143 |
Series 2018-1, Class A, 3.70%, 3/1/2030 | 434 | 383 |
Upstart Pass-Through Trust Series 2021-ST2, Class A, 2.50%, 4/20/2027 (b) | 155 | 149 |
Upstart Securitization Trust | ||
Series 2020-3, Class A, 1.70%, 11/20/2030 (b) | 173 | 172 |
Series 2021-1, Class A, 0.87%, 3/20/2031 (b) | 77 | 76 |
US Auto Funding Series 2021-1A, Class B, 1.49%, 3/17/2025 (b) | 390 | 376 |
VCAT LLC | ||
Series 2021-NPL1, Class A1, 2.29%, 12/26/2050 ‡ (b) (d) | 291 | 281 |
Series 2021-NPL2, Class A1, 2.12%, 3/27/2051 (b) (d) | 348 | 331 |
Veros Auto Receivables Trust Series 2021-1, Class A, 0.92%, 10/15/2026 (b) | 212 | 208 |
VOLT XCII LLC Series 2021-NPL1, Class A1, 1.89%, 2/27/2051 (b) (d) | 412 | 391 |
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 ‡ (b) (d) | 1,573 | 1,490 |
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 ‡ (b) (d) | 1,342 | 1,275 |
VOLT XCIX LLC Series 2021-NPL8, Class A1, 2.12%, 4/25/2051 ‡ (b) (d) | 636 | 600 |
VOLT XCV LLC Series 2021-NPL4, Class A1, 2.24%, 3/27/2051 ‡ (b) (d) | 601 | 573 |
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (b) (d) | 1,000 | 954 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 ‡ (b) (d) | 1,039 | 987 |
Westgate Resorts LLC Series 2022-1A, Class B, 2.29%, 8/20/2036 ‡ (b) | 324 | 310 |
Total Asset-Backed Securities (Cost $54,491) | 51,011 | |
Mortgage-Backed Securities — 4.6% | ||
FHLMC UMBS, 30 Year | ||
Pool # ZL3032 3.50%, 5/1/2042 | 441 | 432 |
Pool # QB4026 2.50%, 10/1/2050 | 1,679 | 1,528 |
Pool # QB4045 2.50%, 10/1/2050 | 1,014 | 914 |
Pool # QB4484 2.50%, 10/1/2050 | 616 | 560 |
Pool # QB4542 2.50%, 10/1/2050 | 550 | 501 |
Pool # RA4224 3.00%, 11/1/2050 | 224 | 209 |
Pool # QB8503 2.50%, 2/1/2051 | 636 | 573 |
Pool # QC4789 3.00%, 7/1/2051 | 431 | 402 |
Pool # QE1637 4.00%, 5/1/2052 | 214 | 215 |
Pool # QE1832 4.50%, 5/1/2052 | 245 | 251 |
FNMA UMBS, 30 Year | ||
Pool # CA2826 5.50%, 12/1/2048 | 1,040 | 1,094 |
Pool # FM3118 3.00%, 5/1/2050 | 384 | 361 |
Pool # BQ2894 3.00%, 9/1/2050 | 894 | 839 |
Pool # BQ3996 2.50%, 10/1/2050 | 715 | 648 |
Pool # BQ5243 3.50%, 10/1/2050 | 303 | 294 |
Pool # CA7398 3.50%, 10/1/2050 | 1,064 | 1,033 |
Pool # CA8637 4.00%, 1/1/2051 | 1,530 | 1,532 |
Pool # BU3079 3.00%, 1/1/2052 | 367 | 343 |
Pool # BV0273 3.00%, 1/1/2052 | 391 | 365 |
Pool # BV4831 3.00%, 2/1/2052 | 293 | 274 |
Pool # BV0295 3.50%, 2/1/2052 | 834 | 818 |
Pool # BV6743 4.50%, 5/1/2052 | 270 | 275 |
Pool # BV9515 6.00%, 6/1/2052 | 260 | 276 |
FNMA, Other | ||
Pool # AM5319 4.34%, 1/1/2029 | 381 | 397 |
Pool # BS4290 1.95%, 10/1/2029 | 600 | 537 |
Pool # BS0448 1.27%, 12/1/2029 | 870 | 749 |
Pool # BL9748 1.60%, 12/1/2029 | 344 | 303 |
Pool # AN7593 2.99%, 12/1/2029 | 258 | 247 |
Pool # AN8285 3.11%, 3/1/2030 | 264 | 256 |
Pool # AM8544 3.08%, 4/1/2030 | 116 | 111 |
Pool # BL9251 1.45%, 10/1/2030 | 680 | 584 |
Pool # AM4789 4.18%, 11/1/2030 | 158 | 161 |
Pool # BL9891 1.37%, 12/1/2030 | 489 | 417 |
Pool # BS5580 3.68%, 1/1/2032 | 660 | 664 |
Pool # AN6149 3.14%, 7/1/2032 | 810 | 778 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 47 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Mortgage-Backed Securities — continued | ||
Pool # AN7923 3.33%, 1/1/2033 | 505 | 489 |
Pool # BS5357 3.41%, 3/1/2033 | 500 | 487 |
Pool # AN9067 3.51%, 5/1/2033 | 275 | 270 |
Pool # BS5511 3.45%, 8/1/2033 | 665 | 650 |
Pool # BS5127 3.15%, 9/1/2033 | 400 | 379 |
Pool # BL1012 4.03%, 12/1/2033 | 265 | 271 |
Pool # BL0900 4.08%, 2/1/2034 | 155 | 160 |
Pool # AN4430 3.61%, 1/1/2037 | 536 | 528 |
Pool # BF0230 5.50%, 1/1/2058 | 1,236 | 1,356 |
Pool # BF0497 3.00%, 7/1/2060 | 575 | 541 |
GNMA II, 30 Year | ||
Pool # BY3432 3.50%, 9/20/2050 | 821 | 799 |
Pool # BR3929 3.50%, 10/20/2050 | 423 | 412 |
Pool # BW1726 3.50%, 10/20/2050 | 590 | 574 |
Pool # BS8546 2.50%, 12/20/2050 | 1,433 | 1,289 |
Pool # BR3928 3.00%, 12/20/2050 | 668 | 641 |
Pool # BU7538 3.00%, 12/20/2050 | 445 | 426 |
Pool # 785294 3.50%, 1/20/2051 | 1,403 | 1,393 |
Pool # CA8452 3.00%, 2/20/2051 | 1,838 | 1,757 |
Pool # CB1543 3.00%, 2/20/2051 | 1,299 | 1,227 |
Pool # CA3588 3.50%, 2/20/2051 | 1,243 | 1,210 |
Pool # CB1536 3.50%, 2/20/2051 | 1,358 | 1,325 |
Pool # CB1542 3.00%, 3/20/2051 | 905 | 854 |
Pool # CB4433 3.00%, 3/20/2051 | 1,491 | 1,394 |
Pool # CC0070 3.00%, 3/20/2051 | 221 | 213 |
Pool # CC8726 3.00%, 3/20/2051 | 282 | 267 |
Pool # CC8738 3.00%, 3/20/2051 | 346 | 327 |
Pool # CC8723 3.50%, 3/20/2051 | 1,627 | 1,583 |
Pool # CC0088 4.00%, 3/20/2051 | 61 | 61 |
Pool # CC0092 4.00%, 3/20/2051 | 149 | 150 |
Pool # CC8727 3.00%, 4/20/2051 | 423 | 399 |
Pool # CC8739 3.00%, 4/20/2051 | 1,178 | 1,112 |
Pool # CC8740 3.00%, 4/20/2051 | 1,047 | 989 |
Pool # CC8751 3.00%, 4/20/2051 | 215 | 203 |
Pool # CA3563 3.50%, 7/20/2051 | 795 | 783 |
Pool # CE2586 3.50%, 7/20/2051 | 1,101 | 1,071 |
Pool # CK1527 3.50%, 12/20/2051 | 718 | 702 |
Pool # CJ8184 3.50%, 1/20/2052 | 774 | 753 |
Pool # CK2716 3.50%, 2/20/2052 | 556 | 545 |
Pool # CN3557 4.50%, 5/20/2052 | 310 | 321 |
GNMA II, Other Pool # 785183 2.94%, 10/20/2070 (e) | 638 | 601 |
Total Mortgage-Backed Securities (Cost $53,207) | 47,453 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
U.S. Treasury Obligations — 3.2% | ||
U.S. Treasury Bonds | ||
1.13%, 5/15/2040 | 4,017 | 2,796 |
1.13%, 8/15/2040 | 6,836 | 4,723 |
2.25%, 5/15/2041 | 259 | 216 |
1.75%, 8/15/2041 | 500 | 380 |
2.00%, 11/15/2041 | 195 | 155 |
3.13%, 2/15/2043 | 695 | 660 |
1.25%, 5/15/2050 | 39 | 25 |
1.38%, 8/15/2050 | 10,036 | 6,606 |
1.63%, 11/15/2050 | 1,187 | 835 |
U.S. Treasury Notes | ||
0.13%, 1/31/2023 (f) | 2,350 | 2,316 |
0.13%, 9/15/2023 | 4,000 | 3,866 |
1.88%, 2/28/2027 | 574 | 545 |
1.00%, 7/31/2028 | 2,604 | 2,303 |
1.13%, 8/31/2028 | 1,554 | 1,383 |
1.50%, 2/15/2030 | 3,590 | 3,225 |
1.63%, 5/15/2031 | 220 | 197 |
1.38%, 11/15/2031 | 80 | 69 |
1.88%, 2/15/2032 | 879 | 796 |
U.S. Treasury STRIPS Bonds 1.14%, 5/15/2027 (g) | 2,065 | 1,778 |
Total U.S. Treasury Obligations (Cost $38,395) | 32,874 | |
Collateralized Mortgage Obligations — 1.4% | ||
Ajax Mortgage Loan Trust Series 2021-B, Class A, 2.24%, 6/25/2066 ‡ (b) (d) | 731 | 681 |
Bayview Finance LLC, 0.00%, 7/12/2033 ‡ | 635 | 631 |
Cascade MH Asset Trust Series 2021-MH1, Class A1, 1.75%, 2/25/2046 (b) | 942 | 843 |
CFMT LLC | ||
Series 2020-HB4, Class A, 0.95%, 12/26/2030 (b) (e) | 173 | 171 |
Series 2021-HB5, Class A, 0.80%, 2/25/2031 (b) (e) | 737 | 723 |
CSMC Trust Series 2021-RPL1, Class A1, 1.67%, 9/27/2060 (b) (e) | 827 | 783 |
FNMA Trust, Whole Loan Series 2002-W8, Class A1, 6.50%, 6/25/2042 | 334 | 364 |
FNMA, Grantor Trust, Whole Loan Series 2001-T12, Class A1, 6.50%, 8/25/2041 | 134 | 141 |
FNMA, REMIC | ||
Series 2018-72, Class VB, 3.50%, 10/25/2031 | 272 | 272 |
Series 2019-7, Class CA, 3.50%, 11/25/2057 | 1,550 | 1,549 |
48 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Collateralized Mortgage Obligations — continued | ||
FNMA, REMIC Trust, Whole Loan Series 2002-W3, Class A4, 6.50%, 11/25/2041 | 665 | 710 |
GNMA | ||
Series 2015-H11, Class FC, 1.35%, 5/20/2065 (e) | 448 | 444 |
Series 2021-H14, Class YD, 8.30%, 6/20/2071 (e) | 755 | 845 |
Legacy Mortgage Asset Trust Series 2021-GS1, Class A1, 1.89%, 10/25/2066 (b) (d) | 372 | 360 |
LHOME Mortgage Trust Series 2021-RTL1, Class A1, 2.09%, 9/25/2026 (b) (e) | 260 | 249 |
PRPM LLC | ||
Series 2021-2, Class A1, 2.12%, 3/25/2026 (b) (e) | 574 | 547 |
Series 2021-10, Class A1, 2.49%, 10/25/2026 (b) (d) | 259 | 245 |
Seasoned Credit Risk Transfer Trust | ||
Series 2018-1, Class M60C, 3.50%, 5/25/2057 | 426 | 419 |
Series 2019-2, Class M55D, 4.00%, 8/25/2058 ‡ | 583 | 583 |
Series 2019-3, Class M55D, 4.00%, 10/25/2058 ‡ | 413 | 414 |
Series 2020-3, Class M5TW, 3.00%, 5/25/2060 ‡ | 1,038 | 1,002 |
Series 2020-3, Class TTW, 3.00%, 5/25/2060 ‡ | 1,098 | 1,070 |
Toorak Mortgage Corp. Ltd. Series 2020-1, Class A1, 2.73%, 3/25/2023 (b) (d) | 200 | 198 |
Towd Point Mortgage Trust Series 2021-R1, Class A1, 2.92%, 11/30/2060 (b) (e) | 1,503 | 1,370 |
Total Collateralized Mortgage Obligations (Cost $15,600) | 14,614 | |
Commercial Mortgage-Backed Securities — 0.7% | ||
ACRE Commercial Mortgage Ltd. | ||
Series 2021-FL4, Class A, 2.44%, 12/18/2037 (b) (e) | 396 | 391 |
Series 2021-FL4, Class AS, 2.71%, 12/18/2037 (b) (e) | 455 | 446 |
BPR Trust Series 2021-KEN, Class A, 2.57%, 2/15/2029 (b) (e) | 335 | 330 |
FHLMC, Multi-Family Structured Credit Risk Series 2021-MN2, Class M1, 2.73%, 7/25/2041 (b) (e) | 679 | 613 |
FHLMC, Multi-Family Structured Pass-Through Certificates | ||
Series K-1511, Class A1, 3.28%, 10/25/2030 | 634 | 627 |
Series K152, Class A2, 3.08%, 1/25/2031 | 155 | 150 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series K-1510, Class A2, 3.72%, 1/25/2031 | 235 | 238 |
FNMA ACES | ||
Series 2022-M1S, Class A2, 2.08%, 4/25/2032 | 965 | 838 |
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033 | 196 | 188 |
Series 2021-M3, Class X1, IO, 2.09%, 11/25/2033 (e) | 1,260 | 144 |
FNMA, Other 3.08%, 1/1/2029 | 907 | 922 |
FREMF Mortgage Trust | ||
Series 2017-KGX1, Class BFX, 3.71%, 10/25/2027 (b) (e) | 435 | 402 |
Series 2015-K48, Class C, 3.77%, 8/25/2048 (b) (e) | 35 | 34 |
Series 2016-K56, Class B, 4.08%, 6/25/2049 (b) (e) | 330 | 323 |
Series 2017-K728, Class C, 3.76%, 11/25/2050 (b) (e) | 185 | 180 |
KKR Industrial Portfolio Trust Series 2021-KDIP, Class B, 2.12%, 12/15/2037 ‡ (b) (e) | 277 | 265 |
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (b) | 725 | 615 |
Total Commercial Mortgage-Backed Securities (Cost $7,161) | 6,706 | |
Foreign Government Securities — 0.1% | ||
Republic of Panama (Panama) 3.16%, 1/23/2030 | 250 | 223 |
Republic of Peru (Peru) 2.78%, 12/1/2060 | 125 | 77 |
United Mexican States (Mexico) | ||
2.66%, 5/24/2031 | 848 | 698 |
3.50%, 2/12/2034 | 369 | 305 |
Total Foreign Government Securities (Cost $1,612) | 1,303 | |
SHARES (000) | ||
Short Term Investments — 8.0% | ||
Investment Companies — 8.0% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (h) (Cost $83,356) | 83,356 | 83,356 |
Total Investments — 99.0% (Cost $1,065,902) | 1,028,014 | |
Other Assets Less Liabilities — 1.0% | 10,888 | |
NET ASSETS — 100.0% | 1,038,902 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 49 |
AS OF June 30, 2022 (continued)
Percentages indicated are based on net assets. |
Abbreviations | |
ABS | Asset-Backed Securities |
ACES | Alternative Credit Enhancement Securities |
CSMC | Credit Suisse Mortgage Trust |
ETF | Exchange Traded Fund |
FHLMC | Federal Home Loan Mortgage Corp. |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
ICE | Intercontinental Exchange |
IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. |
LIBOR | London Interbank Offered Rate |
REIT | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. |
UMBS | Uniform Mortgage-Backed Securities |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(c) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022. | |
(d) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of June 30, 2022. | |
(e) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022. | |
(f) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. | |
(g) | The rate shown is the effective yield as of June 30, 2022. | |
(h) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Short Contracts | |||||
DJ US Real Estate Index | (141) | 09/16/2022 | USD | (5,039) | (179) |
MSCI EAFE E-Mini Index | (59) | 09/16/2022 | USD | (5,484) | 6 |
MSCI Emerging Markets E-Mini Index | (179) | 09/16/2022 | USD | (8,983) | (20) |
S&P 500 E-Mini Index | (57) | 09/16/2022 | USD | (10,819) | 214 |
21 |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
50 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 44.4% | ||
Fixed Income — 16.5% | ||
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 21,654 | 161,324 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 6,678 | 38,799 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 2,346 | 19,355 |
JPMorgan High Yield Fund Class R6 Shares (a) | 13,606 | 83,677 |
Total Fixed Income | 303,155 | |
International Equity — 5.8% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 6,749 | 106,028 |
U.S. Equity — 22.1% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 7,134 | 405,439 |
Total Investment Companies (Cost $786,854) | 814,622 | |
Exchange-Traded Funds — 30.0% | ||
Alternative Assets — 2.0% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 408 | 35,881 |
Fixed Income — 10.9% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 183 | 7,993 |
JPMorgan Inflation Managed Bond ETF (a) | 1,487 | 71,818 |
JPMorgan U.S. Aggregate Bond ETF (a) | 2,528 | 121,240 |
Total Fixed Income | 201,051 | |
International Equity — 11.8% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 4,567 | 215,958 |
U.S. Equity — 5.3% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 760 | 53,002 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 891 | 44,866 |
Total U.S. Equity | 97,868 | |
Total Exchange-Traded Funds (Cost $571,650) | 550,758 | |
PRINCIPAL AMOUNT ($000) | ||
Corporate Bonds — 5.8% | ||
Aerospace & Defense — 0.2% | ||
Boeing Co. (The) | ||
1.95%, 2/1/2024 | 100 | 97 |
1.43%, 2/4/2024 | 135 | 129 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Aerospace & Defense — continued | ||
2.50%, 3/1/2025 | 276 | 261 |
2.75%, 2/1/2026 | 95 | 88 |
2.20%, 2/4/2026 | 85 | 77 |
2.70%, 2/1/2027 | 1,722 | 1,532 |
3.45%, 11/1/2028 | 200 | 178 |
L3Harris Technologies, Inc. 1.80%, 1/15/2031 | 100 | 80 |
Northrop Grumman Corp. | ||
5.15%, 5/1/2040 | 242 | 245 |
3.85%, 4/15/2045 | 220 | 185 |
Raytheon Technologies Corp. | ||
2.25%, 7/1/2030 | 422 | 364 |
2.82%, 9/1/2051 | 385 | 275 |
3,511 | ||
Airlines — 0.0% ^ | ||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 | 744 | 633 |
Automobiles — 0.2% | ||
General Motors Co. 6.80%, 10/1/2027 | 400 | 421 |
Hyundai Capital America | ||
1.15%, 11/10/2022 (b) | 1,074 | 1,066 |
2.65%, 2/10/2025 (b) | 700 | 668 |
1.30%, 1/8/2026 (b) | 100 | 89 |
2.38%, 10/15/2027 (b) | 835 | 734 |
Nissan Motor Co. Ltd. (Japan) 3.52%, 9/17/2025 (b) | 318 | 301 |
3,279 | ||
Banks — 1.2% | ||
AIB Group plc (Ireland) 4.75%, 10/12/2023 (b) | 970 | 971 |
Australia & New Zealand Banking Group Ltd. (Australia) 4.40%, 5/19/2026 (b) | 470 | 463 |
Banco Santander SA (Spain) | ||
1.85%, 3/25/2026 | 400 | 359 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (c) | 200 | 174 |
2.75%, 12/3/2030 | 600 | 477 |
Bank of America Corp. | ||
(SOFR + 1.01%), 1.20%, 10/24/2026 (c) | 592 | 530 |
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (c) | 1,407 | 1,341 |
(SOFR + 1.58%), 4.38%, 4/27/2028 (c) | 305 | 300 |
(SOFR + 1.33%), 2.97%, 2/4/2033 (c) | 55 | 47 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 51 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Banks — continued | ||
(SOFR + 1.93%), 2.68%, 6/19/2041 (c) | 1,243 | 894 |
Bank of Ireland Group plc (Ireland) | ||
4.50%, 11/25/2023 (b) | 490 | 489 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (b) (c) | 215 | 187 |
Banque Federative du Credit Mutuel SA (France) 1.60%, 10/4/2026 (b) | 365 | 324 |
Barclays plc (United Kingdom) | ||
4.34%, 1/10/2028 | 300 | 287 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 11/24/2032 (c) | 200 | 161 |
BNP Paribas SA (France) | ||
(SOFR + 1.61%), 1.90%, 9/30/2028 (b) (c) | 770 | 658 |
(SOFR + 1.22%), 2.16%, 9/15/2029 (b) (c) | 364 | 304 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 2.59%, 8/12/2035 (b) (c) | 290 | 228 |
Citigroup, Inc. | ||
(ICE LIBOR USD 3 Month + 1.15%), 3.52%, 10/27/2028 (c) | 502 | 469 |
(ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (c) | 418 | 361 |
Commonwealth Bank of Australia (Australia) 3.31%, 3/11/2041 (b) | 290 | 220 |
Credit Agricole SA (France) | ||
4.38%, 3/17/2025 (b) | 500 | 492 |
(SOFR + 0.89%), 1.25%, 1/26/2027 (b) (c) | 657 | 578 |
DNB Bank ASA (Norway) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.68%), 1.60%, 3/30/2028 (b) (c) | 335 | 291 |
HSBC Holdings plc (United Kingdom) | ||
(SOFR + 1.29%), 1.59%, 5/24/2027 (c) | 1,000 | 878 |
(SOFR + 1.73%), 2.01%, 9/22/2028 (c) | 1,885 | 1,612 |
(SOFR + 1.29%), 2.21%, 8/17/2029 (c) | 205 | 172 |
Intesa Sanpaolo SpA (Italy) Series XR, 3.25%, 9/23/2024 (b) | 435 | 421 |
Lloyds Banking Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.63%, 5/11/2027 (c) | 220 | 196 |
Mitsubishi UFJ Financial Group, Inc. (Japan) 3.74%, 3/7/2029 | 934 | 885 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Banks — continued | ||
Mizuho Financial Group, Inc. (Japan) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.23%, 5/22/2027 (c) | 230 | 201 |
NatWest Group plc (United Kingdom) | ||
(ICE LIBOR USD 3 Month + 1.75%), 4.89%, 5/18/2029 (c) | 200 | 194 |
(ICE LIBOR USD 3 Month + 1.87%), 4.44%, 5/8/2030 (c) | 210 | 198 |
Nordea Bank Abp (Finland) 1.50%, 9/30/2026 (b) | 200 | 178 |
Santander UK Group Holdings plc (United Kingdom) (SOFR + 0.99%), 1.67%, 6/14/2027 (c) | 230 | 201 |
Societe Generale SA (France) | ||
4.25%, 4/14/2025 (b) | 850 | 833 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.49%, 12/14/2026 (b) (c) | 320 | 282 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.79%, 6/9/2027 (b) | 270 | 235 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 6/9/2032 (b) | 625 | 499 |
Standard Chartered plc (United Kingdom) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.17%), 1.32%, 10/14/2023 (b) (c) | 1,260 | 1,251 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.46%, 1/14/2027 (b) (c) | 200 | 176 |
UniCredit SpA (Italy) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (b) (c) | 200 | 173 |
(USD ICE Swap Rate 5 Year + 3.70%), 5.86%, 6/19/2032 (b) (c) | 200 | 176 |
Wells Fargo & Co. | ||
4.30%, 7/22/2027 | 1,701 | 1,682 |
(SOFR + 2.53%), 3.07%, 4/30/2041 (c) | 156 | 121 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (c) | 320 | 296 |
Westpac Banking Corp. (Australia) | ||
2.96%, 11/16/2040 | 70 | 51 |
3.13%, 11/18/2041 | 224 | 164 |
21,680 |
52 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Beverages — 0.1% | ||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.75%, 7/15/2042 | 1,135 | 920 |
Keurig Dr Pepper, Inc. 3.80%, 5/1/2050 | 276 | 219 |
1,139 | ||
Biotechnology — 0.1% | ||
AbbVie, Inc. | ||
2.95%, 11/21/2026 | 300 | 284 |
3.20%, 11/21/2029 | 720 | 662 |
4.05%, 11/21/2039 | 500 | 446 |
4.25%, 11/21/2049 | 240 | 213 |
Amgen, Inc. 3.15%, 2/21/2040 | 496 | 392 |
Biogen, Inc. 2.25%, 5/1/2030 | 144 | 118 |
Gilead Sciences, Inc. 2.60%, 10/1/2040 | 288 | 211 |
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030 | 481 | 386 |
2,712 | ||
Building Products — 0.0% ^ | ||
Masco Corp. 2.00%, 10/1/2030 | 262 | 207 |
Capital Markets — 0.6% | ||
Brookfield Finance, Inc. (Canada) 3.50%, 3/30/2051 | 278 | 200 |
Credit Suisse AG (Switzerland) 3.70%, 2/21/2025 | 500 | 488 |
Credit Suisse Group AG (Switzerland) | ||
(SOFR + 0.98%), 1.31%, 2/2/2027 (b) (c) | 250 | 215 |
4.28%, 1/9/2028 (b) | 1,120 | 1,046 |
Deutsche Bank AG (Germany) (SOFR + 1.87%), 2.13%, 11/24/2026 (c) | 905 | 803 |
Goldman Sachs Group, Inc. (The) | ||
(SOFR + 0.57%), 0.67%, 3/8/2024 | 792 | 774 |
4.25%, 10/21/2025 | 1,486 | 1,475 |
Series VAR, (SOFR + 0.79%), 1.09%, 12/9/2026 (c) | 1,295 | 1,153 |
(SOFR + 1.11%), 2.64%, 2/24/2028 | 288 | 261 |
(ICE LIBOR USD 3 Month + 1.51%), 3.69%, 6/5/2028 (c) | 783 | 742 |
Macquarie Group Ltd. (Australia) | ||
(SOFR + 1.07%), 1.34%, 1/12/2027 (b) (c) | 470 | 413 |
(SOFR + 1.53%), 2.87%, 1/14/2033 (b) (c) | 250 | 204 |
Morgan Stanley | ||
5.00%, 11/24/2025 | 1,095 | 1,113 |
3.13%, 7/27/2026 | 1,003 | 957 |
(SOFR + 1.49%), 3.22%, 4/22/2042 (c) | 245 | 193 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Capital Markets — continued | ||
S&P Global, Inc. | ||
2.70%, 3/1/2029 (b) | 322 | 293 |
4.25%, 5/1/2029 (b) | 303 | 300 |
UBS Group AG (Switzerland) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 4.49%, 5/12/2026 (b) (c) | 372 | 371 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (b) (c) | 580 | 460 |
11,461 | ||
Chemicals — 0.0% ^ | ||
DuPont de Nemours, Inc. 5.32%, 11/15/2038 | 218 | 216 |
International Flavors & Fragrances, Inc. 3.47%, 12/1/2050 (b) | 185 | 135 |
LYB International Finance III LLC 1.25%, 10/1/2025 | 142 | 128 |
Nutrien Ltd. (Canada) 5.00%, 4/1/2049 | 121 | 120 |
599 | ||
Construction & Engineering — 0.0% ^ | ||
Quanta Services, Inc. 2.35%, 1/15/2032 | 370 | 287 |
Consumer Finance — 0.3% | ||
AerCap Ireland Capital DAC (Ireland) | ||
3.15%, 2/15/2024 | 500 | 484 |
6.50%, 7/15/2025 | 275 | 281 |
4.63%, 10/15/2027 | 1,005 | 946 |
3.00%, 10/29/2028 | 150 | 126 |
Avolon Holdings Funding Ltd. (Ireland) | ||
2.88%, 2/15/2025 (b) | 110 | 101 |
5.50%, 1/15/2026 (b) | 1,075 | 1,043 |
2.13%, 2/21/2026 (b) | 150 | 130 |
4.25%, 4/15/2026 (b) | 25 | 23 |
2.53%, 11/18/2027 (b) | 1,132 | 923 |
Capital One Financial Corp. | ||
3.80%, 1/31/2028 | 200 | 188 |
(SOFR + 1.27%), 2.62%, 11/2/2032 (c) | 235 | 189 |
General Motors Financial Co., Inc. 3.80%, 4/7/2025 | 310 | 302 |
Park Aerospace Holdings Ltd. (Ireland) | ||
4.50%, 3/15/2023 (b) | 595 | 593 |
5.50%, 2/15/2024 (b) | 31 | 31 |
5,360 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 53 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Containers & Packaging — 0.0% ^ | ||
Graphic Packaging International LLC 1.51%, 4/15/2026 (b) | 259 | 234 |
Diversified Consumer Services — 0.0% ^ | ||
University of Miami Series 2022, 4.06%, 4/1/2052 | 110 | 99 |
Diversified Financial Services — 0.0% ^ | ||
Element Fleet Management Corp. (Canada) 1.60%, 4/6/2024 (b) | 145 | 138 |
Shell International Finance BV (Netherlands) 3.13%, 11/7/2049 | 251 | 193 |
331 | ||
Diversified Telecommunication Services — 0.1% | ||
AT&T, Inc. | ||
2.30%, 6/1/2027 | 668 | 610 |
3.50%, 6/1/2041 | 664 | 530 |
3.55%, 9/15/2055 | 398 | 298 |
Verizon Communications, Inc. 2.65%, 11/20/2040 | 236 | 173 |
1,611 | ||
Electric Utilities — 0.4% | ||
Duke Energy Indiana LLC Series YYY, 3.25%, 10/1/2049 | 123 | 95 |
Duke Energy Progress LLC 2.90%, 8/15/2051 | 170 | 125 |
Edison International 5.75%, 6/15/2027 | 265 | 269 |
Emera US Finance LP (Canada) 4.75%, 6/15/2046 | 253 | 223 |
Entergy Arkansas LLC 2.65%, 6/15/2051 | 88 | 61 |
Entergy Louisiana LLC | ||
4.00%, 3/15/2033 | 202 | 192 |
2.90%, 3/15/2051 | 80 | 58 |
Evergy, Inc. 2.90%, 9/15/2029 | 512 | 452 |
Fells Point Funding Trust 3.05%, 1/31/2027 (b) | 560 | 516 |
FirstEnergy Transmission LLC 4.55%, 4/1/2049 (b) | 235 | 189 |
Fortis, Inc. (Canada) 3.06%, 10/4/2026 | 334 | 314 |
ITC Holdings Corp. 2.95%, 5/14/2030 (b) | 156 | 138 |
Jersey Central Power & Light Co. 4.30%, 1/15/2026 (b) | 236 | 233 |
Massachusetts Electric Co. 4.00%, 8/15/2046 (b) | 118 | 98 |
New England Power Co. (United Kingdom) 2.81%, 10/6/2050 (b) | 328 | 221 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Electric Utilities — continued | ||
NRG Energy, Inc. | ||
2.00%, 12/2/2025 (b) | 115 | 104 |
2.45%, 12/2/2027 (b) | 410 | 352 |
OGE Energy Corp. 0.70%, 5/26/2023 | 140 | 136 |
Oklahoma Gas and Electric Co. 0.55%, 5/26/2023 | 170 | 165 |
Pacific Gas and Electric Co. | ||
1.37%, 3/10/2023 | 695 | 684 |
1.70%, 11/15/2023 | 175 | 169 |
3.25%, 2/16/2024 | 485 | 472 |
3.45%, 7/1/2025 | 140 | 132 |
2.95%, 3/1/2026 | 346 | 314 |
3.75%, 8/15/2042 (d) | 86 | 58 |
4.30%, 3/15/2045 | 90 | 65 |
PacifiCorp 4.15%, 2/15/2050 | 144 | 130 |
PG&E Wildfire Recovery Funding LLC Series A-2, 4.26%, 6/1/2036 | 135 | 136 |
Southern California Edison Co. | ||
Series 20C, 1.20%, 2/1/2026 | 232 | 208 |
Series C, 4.13%, 3/1/2048 | 152 | 125 |
Union Electric Co. 3.90%, 4/1/2052 | 198 | 174 |
Vistra Operations Co. LLC 4.88%, 5/13/2024 (b) | 428 | 426 |
7,034 | ||
Energy Equipment & Services — 0.0% ^ | ||
Schlumberger Holdings Corp. 4.00%, 12/21/2025 (b) | 338 | 336 |
Entertainment — 0.1% | ||
Activision Blizzard, Inc. 1.35%, 9/15/2030 | 244 | 196 |
Take-Two Interactive Software, Inc. 3.70%, 4/14/2027 | 366 | 355 |
Walt Disney Co. (The) | ||
2.65%, 1/13/2031 | 440 | 387 |
3.50%, 5/13/2040 | 424 | 362 |
1,300 | ||
Equity Real Estate Investment Trusts (REITs) — 0.3% | ||
American Campus Communities Operating Partnership LP 2.25%, 1/15/2029 | 150 | 139 |
American Tower Corp. | ||
1.50%, 1/31/2028 | 205 | 170 |
1.88%, 10/15/2030 | 1,190 | 926 |
Brixmor Operating Partnership LP | ||
2.25%, 4/1/2028 | 180 | 154 |
54 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
2.50%, 8/16/2031 | 110 | 86 |
Corporate Office Properties LP 2.75%, 4/15/2031 | 295 | 239 |
CubeSmart LP 2.00%, 2/15/2031 | 570 | 453 |
Equinix, Inc. 2.90%, 11/18/2026 | 360 | 335 |
Healthcare Trust of America Holdings LP 2.00%, 3/15/2031 | 475 | 368 |
Healthpeak Properties, Inc. 2.13%, 12/1/2028 | 334 | 288 |
Life Storage LP 2.40%, 10/15/2031 | 305 | 243 |
Office Properties Income Trust 2.40%, 2/1/2027 | 375 | 306 |
Physicians Realty LP 2.63%, 11/1/2031 | 135 | 109 |
Realty Income Corp. 1.80%, 3/15/2033 | 275 | 210 |
Sabra Health Care LP 3.20%, 12/1/2031 | 215 | 171 |
Safehold Operating Partnership LP 2.85%, 1/15/2032 | 406 | 326 |
Scentre Group Trust 1 (Australia) 3.63%, 1/28/2026 (b) | 630 | 607 |
UDR, Inc. | ||
2.10%, 8/1/2032 | 482 | 375 |
1.90%, 3/15/2033 | 65 | 49 |
WP Carey, Inc. | ||
2.40%, 2/1/2031 | 183 | 150 |
2.25%, 4/1/2033 | 20 | 15 |
5,719 | ||
Food & Staples Retailing — 0.1% | ||
7-Eleven, Inc. | ||
0.63%, 2/10/2023 (b) | 660 | 647 |
0.95%, 2/10/2026 (b) | 155 | 137 |
1.30%, 2/10/2028 (b) | 124 | 103 |
2.50%, 2/10/2041 (b) | 125 | 85 |
Alimentation Couche-Tard, Inc. (Canada) | ||
3.44%, 5/13/2041 (b) | 300 | 224 |
3.63%, 5/13/2051 (b) | 335 | 242 |
CVS Pass-Through Trust Series 2014, 4.16%, 8/11/2036 (b) | 126 | 121 |
1,559 | ||
Food Products — 0.0% ^ | ||
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 159 | 131 |
Kraft Heinz Foods Co. | ||
4.63%, 10/1/2039 | 250 | 220 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Food Products — continued | ||
4.38%, 6/1/2046 | 137 | 114 |
Smithfield Foods, Inc. 3.00%, 10/15/2030 (b) | 508 | 421 |
886 | ||
Gas Utilities — 0.0% ^ | ||
Atmos Energy Corp. | ||
0.63%, 3/9/2023 | 95 | 94 |
2.85%, 2/15/2052 | 245 | 175 |
CenterPoint Energy Resources Corp. 1.75%, 10/1/2030 | 238 | 193 |
462 | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
Boston Scientific Corp. 4.55%, 3/1/2039 | 78 | 73 |
DH Europe Finance II SARL 3.25%, 11/15/2039 | 123 | 102 |
175 | ||
Health Care Providers & Services — 0.2% | ||
Banner Health 1.90%, 1/1/2031 | 323 | 269 |
Bon Secours Mercy Health, Inc. Series 20-2, 3.21%, 6/1/2050 | 195 | 145 |
Children's Hospital of Philadelphia (The) Series 2020, 2.70%, 7/1/2050 | 240 | 169 |
CommonSpirit Health | ||
1.55%, 10/1/2025 | 85 | 79 |
2.78%, 10/1/2030 | 195 | 169 |
3.91%, 10/1/2050 | 80 | 64 |
Elevance Health, Inc. 2.25%, 5/15/2030 | 488 | 417 |
HCA, Inc. | ||
5.25%, 6/15/2026 | 1,104 | 1,099 |
3.50%, 7/15/2051 | 125 | 85 |
4.63%, 3/15/2052 (b) | 140 | 112 |
MedStar Health, Inc. Series 20A, 3.63%, 8/15/2049 | 165 | 136 |
MidMichigan Health Series 2020, 3.41%, 6/1/2050 | 50 | 40 |
MultiCare Health System 2.80%, 8/15/2050 | 149 | 108 |
PeaceHealth Obligated Group Series 2020, 3.22%, 11/15/2050 | 175 | 131 |
Piedmont Healthcare, Inc. 2.86%, 1/1/2052 | 230 | 166 |
Universal Health Services, Inc. 2.65%, 10/15/2030 (b) | 188 | 150 |
West Virginia United Health System Obligated Group Series 2020, 3.13%, 6/1/2050 | 375 | 274 |
3,613 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 55 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Hotels, Restaurants & Leisure — 0.0% ^ | ||
Starbucks Corp. 3.35%, 3/12/2050 | 251 | 190 |
Household Durables — 0.0% ^ | ||
Lennar Corp. 4.50%, 4/30/2024 | 85 | 85 |
MDC Holdings, Inc. 3.97%, 8/6/2061 | 275 | 158 |
243 | ||
Independent Power and Renewable Electricity Producers — 0.1% | ||
Alexander Funding Trust 1.84%, 11/15/2023 (b) | 840 | 804 |
Constellation Energy Generation LLC | ||
3.25%, 6/1/2025 | 1,014 | 971 |
5.75%, 10/1/2041 | 210 | 203 |
Southern Power Co. 5.15%, 9/15/2041 | 260 | 245 |
2,223 | ||
Industrial Conglomerates — 0.0% ^ | ||
GE Capital International Funding Co. Unlimited Co. 4.42%, 11/15/2035 | 578 | 540 |
Insurance — 0.2% | ||
Athene Global Funding | ||
0.95%, 1/8/2024 (b) | 501 | 475 |
2.75%, 6/25/2024 (b) | 349 | 337 |
2.50%, 1/14/2025 (b) | 141 | 134 |
Berkshire Hathaway Finance Corp. 3.85%, 3/15/2052 | 185 | 158 |
Brown & Brown, Inc. 2.38%, 3/15/2031 | 488 | 386 |
Corebridge Financial, Inc. 3.85%, 4/5/2029 (b) | 120 | 111 |
Empower Finance 2020 LP (Canada) 3.08%, 9/17/2051 (b) | 352 | 252 |
New York Life Insurance Co. 3.75%, 5/15/2050 (b) | 510 | 417 |
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (b) | 200 | 176 |
Teachers Insurance & Annuity Association of America 3.30%, 5/15/2050 (b) | 495 | 378 |
2,824 | ||
Internet & Direct Marketing Retail — 0.0% ^ | ||
Amazon.com, Inc. 3.95%, 4/13/2052 | 360 | 333 |
IT Services — 0.0% ^ | ||
CGI, Inc. (Canada) 1.45%, 9/14/2026 | 215 | 190 |
Global Payments, Inc. 3.20%, 8/15/2029 | 395 | 345 |
535 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Media — 0.1% | ||
Charter Communications Operating LLC | ||
2.80%, 4/1/2031 | 152 | 122 |
3.50%, 3/1/2042 | 115 | 80 |
3.70%, 4/1/2051 | 532 | 360 |
Comcast Corp. | ||
3.25%, 11/1/2039 | 431 | 354 |
2.80%, 1/15/2051 | 305 | 216 |
Discovery Communications LLC 3.63%, 5/15/2030 | 210 | 186 |
1,318 | ||
Metals & Mining — 0.1% | ||
Anglo American Capital plc (South Africa) 3.63%, 9/11/2024 (b) | 320 | 314 |
Glencore Funding LLC (Australia) 2.50%, 9/1/2030 (b) | 398 | 324 |
Steel Dynamics, Inc. 1.65%, 10/15/2027 | 316 | 271 |
909 | ||
Multiline Retail — 0.0% ^ | ||
Nordstrom, Inc. 4.25%, 8/1/2031 | 292 | 221 |
Multi-Utilities — 0.1% | ||
Berkshire Hathaway Energy Co. 2.85%, 5/15/2051 | 241 | 171 |
CenterPoint Energy, Inc. 1.45%, 6/1/2026 | 225 | 203 |
Consumers Energy Co. 3.25%, 8/15/2046 | 117 | 94 |
San Diego Gas & Electric Co. 2.95%, 8/15/2051 | 370 | 273 |
Southern Co. Gas Capital Corp. Series 21A, 3.15%, 9/30/2051 | 170 | 120 |
WEC Energy Group, Inc. 1.38%, 10/15/2027 | 266 | 230 |
1,091 | ||
Oil, Gas & Consumable Fuels — 0.4% | ||
Boardwalk Pipelines LP 4.45%, 7/15/2027 | 205 | 198 |
BP Capital Markets America, Inc. | ||
3.63%, 4/6/2030 | 365 | 345 |
2.77%, 11/10/2050 | 238 | 165 |
Coterra Energy, Inc. 3.90%, 5/15/2027 (b) | 155 | 149 |
Diamondback Energy, Inc. 3.25%, 12/1/2026 | 398 | 388 |
Energy Transfer LP | ||
3.90%, 5/15/2024 (d) | 592 | 587 |
3.90%, 7/15/2026 | 404 | 388 |
4.40%, 3/15/2027 | 475 | 460 |
5.00%, 5/15/2044 (d) | 565 | 472 |
Enterprise Products Operating LLC 4.45%, 2/15/2043 | 354 | 308 |
56 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
Exxon Mobil Corp. 3.00%, 8/16/2039 | 734 | 599 |
Flex Intermediate Holdco LLC | ||
3.36%, 6/30/2031 (b) | 195 | 159 |
4.32%, 12/30/2039 (b) | 135 | 105 |
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates) 2.94%, 9/30/2040 (b) | 246 | 200 |
Gray Oak Pipeline LLC | ||
2.60%, 10/15/2025 (b) | 550 | 514 |
3.45%, 10/15/2027 (b) | 334 | 305 |
HF Sinclair Corp. | ||
2.63%, 10/1/2023 (b) | 232 | 225 |
5.88%, 4/1/2026 (b) | 123 | 124 |
Lundin Energy Finance BV (Netherlands) 2.00%, 7/15/2026 (b) | 200 | 179 |
MPLX LP 4.50%, 4/15/2038 | 256 | 225 |
NGPL PipeCo LLC 3.25%, 7/15/2031 (b) | 210 | 175 |
Phillips 66 Co. 3.55%, 10/1/2026 (b) | 245 | 238 |
Sabine Pass Liquefaction LLC 5.63%, 3/1/2025 | 509 | 519 |
Targa Resources Corp. 4.20%, 2/1/2033 | 90 | 82 |
TotalEnergies Capital International SA (France) 2.99%, 6/29/2041 | 495 | 390 |
7,499 | ||
Personal Products — 0.0% ^ | ||
GSK Consumer Healthcare Capital US LLC 4.00%, 3/24/2052 (b) | 350 | 300 |
Pharmaceuticals — 0.1% | ||
AstraZeneca plc (United Kingdom) 6.45%, 9/15/2037 | 55 | 66 |
Bristol-Myers Squibb Co. | ||
4.13%, 6/15/2039 | 295 | 282 |
2.35%, 11/13/2040 | 533 | 394 |
Merck & Co., Inc. 2.35%, 6/24/2040 | 348 | 261 |
Royalty Pharma plc 2.15%, 9/2/2031 | 35 | 27 |
Takeda Pharmaceutical Co. Ltd. (Japan) 3.03%, 7/9/2040 | 1,220 | 939 |
Utah Acquisition Sub, Inc. 3.95%, 6/15/2026 | 263 | 248 |
Viatris, Inc. | ||
3.85%, 6/22/2040 | 292 | 207 |
4.00%, 6/22/2050 | 203 | 136 |
2,560 | ||
Road & Rail — 0.1% | ||
CSX Corp. 3.80%, 11/1/2046 | 241 | 204 |
Kansas City Southern 4.70%, 5/1/2048 | 192 | 181 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Road & Rail — continued | ||
Norfolk Southern Corp. 3.05%, 5/15/2050 | 237 | 174 |
Triton Container International Ltd. (Bermuda) 2.05%, 4/15/2026 (b) | 800 | 707 |
Union Pacific Corp. 3.55%, 8/15/2039 | 345 | 298 |
1,564 | ||
Semiconductors & Semiconductor Equipment — 0.1% | ||
Analog Devices, Inc. 2.80%, 10/1/2041 | 236 | 185 |
Broadcom, Inc. | ||
1.95%, 2/15/2028 (b) | 529 | 450 |
3.19%, 11/15/2036 (b) | 78 | 59 |
KLA Corp. 3.30%, 3/1/2050 | 412 | 326 |
Microchip Technology, Inc. | ||
0.97%, 2/15/2024 | 260 | 247 |
0.98%, 9/1/2024 | 303 | 283 |
NXP BV (China) 3.25%, 5/11/2041 | 365 | 275 |
TSMC Global Ltd. (Taiwan) 1.38%, 9/28/2030 (b) | 370 | 296 |
Xilinx, Inc. 2.38%, 6/1/2030 | 639 | 564 |
2,685 | ||
Software — 0.1% | ||
Oracle Corp. 3.80%, 11/15/2037 | 619 | 482 |
Roper Technologies, Inc. 1.75%, 2/15/2031 | 277 | 216 |
VMware, Inc. | ||
1.40%, 8/15/2026 | 421 | 372 |
4.70%, 5/15/2030 | 415 | 400 |
1,470 | ||
Specialty Retail — 0.1% | ||
Lowe's Cos., Inc. | ||
1.70%, 10/15/2030 | 240 | 192 |
3.70%, 4/15/2046 | 509 | 408 |
Tractor Supply Co. 1.75%, 11/1/2030 | 501 | 394 |
994 | ||
Technology Hardware, Storage & Peripherals — 0.1% | ||
Apple, Inc. | ||
3.45%, 2/9/2045 | 500 | 435 |
2.70%, 8/5/2051 | 295 | 220 |
Dell International LLC 6.20%, 7/15/2030 | 970 | 1,009 |
1,664 | ||
Thrifts & Mortgage Finance — 0.1% | ||
BPCE SA (France) (SOFR + 1.52%), 1.65%, 10/6/2026 (b) (c) | 1,017 | 910 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 57 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Tobacco — 0.1% | ||
Altria Group, Inc. 2.45%, 2/4/2032 | 375 | 283 |
BAT Capital Corp. (United Kingdom) | ||
2.26%, 3/25/2028 | 482 | 404 |
4.39%, 8/15/2037 | 265 | 210 |
3.73%, 9/25/2040 | 398 | 279 |
1,176 | ||
Trading Companies & Distributors — 0.1% | ||
Air Lease Corp. | ||
3.38%, 7/1/2025 | 440 | 414 |
2.88%, 1/15/2026 | 250 | 230 |
1.88%, 8/15/2026 | 700 | 605 |
1,249 | ||
Wireless Telecommunication Services — 0.0% ^ | ||
America Movil SAB de CV (Mexico) 2.88%, 5/7/2030 | 250 | 223 |
Rogers Communications, Inc. (Canada) 4.55%, 3/15/2052 (b) | 160 | 141 |
364 | ||
Total Corporate Bonds (Cost $126,723) | 107,089 | |
Mortgage-Backed Securities — 4.3% | ||
FHLMC UMBS, 30 Year | ||
Pool # ZL3032 3.50%, 5/1/2042 | 571 | 558 |
Pool # QB4026 2.50%, 10/1/2050 | 2,205 | 2,006 |
Pool # QB4045 2.50%, 10/1/2050 | 1,330 | 1,199 |
Pool # QB4484 2.50%, 10/1/2050 | 814 | 740 |
Pool # QB4542 2.50%, 10/1/2050 | 719 | 655 |
Pool # RA4224 3.00%, 11/1/2050 | 285 | 266 |
Pool # QB8503 2.50%, 2/1/2051 | 820 | 739 |
Pool # QC4789 3.00%, 7/1/2051 | 665 | 621 |
Pool # QD4686 4.00%, 1/1/2052 | 462 | 457 |
Pool # QE1637 4.00%, 5/1/2052 | 349 | 350 |
Pool # QE1832 4.50%, 5/1/2052 | 399 | 411 |
FNMA UMBS, 30 Year | ||
Pool # CA2826 5.50%, 12/1/2048 | 1,365 | 1,436 |
Pool # FM3118 3.00%, 5/1/2050 | 521 | 489 |
Pool # BQ2894 3.00%, 9/1/2050 | 1,177 | 1,104 |
Pool # BQ3996 2.50%, 10/1/2050 | 936 | 848 |
Pool # BQ5243 3.50%, 10/1/2050 | 397 | 385 |
Pool # CA7398 3.50%, 10/1/2050 | 1,401 | 1,360 |
Pool # BR4318 3.00%, 1/1/2051 | 253 | 236 |
Pool # CA8637 4.00%, 1/1/2051 | 1,934 | 1,937 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Pool # CB2637 2.50%, 1/1/2052 | 1,004 | 905 |
Pool # BU3079 3.00%, 1/1/2052 | 565 | 528 |
Pool # BV0273 3.00%, 1/1/2052 | 1,419 | 1,324 |
Pool # CB2670 3.00%, 1/1/2052 | 896 | 837 |
Pool # BV4831 3.00%, 2/1/2052 | 457 | 426 |
Pool # BV0295 3.50%, 2/1/2052 | 1,293 | 1,267 |
Pool # BV3950 4.00%, 2/1/2052 | 565 | 563 |
Pool # BV6743 4.50%, 5/1/2052 | 459 | 469 |
FNMA, Other | ||
Pool # AM3010 5.07%, 3/1/2028 | 565 | 608 |
Pool # BL8639 1.09%, 4/1/2028 | 773 | 684 |
Pool # AM5319 4.34%, 1/1/2029 | 507 | 528 |
Pool # BS0448 1.27%, 12/1/2029 | 1,085 | 935 |
Pool # BL9748 1.60%, 12/1/2029 | 448 | 394 |
Pool # AN7593 2.99%, 12/1/2029 | 332 | 319 |
Pool # AN8285 3.11%, 3/1/2030 | 339 | 329 |
Pool # AM8544 3.08%, 4/1/2030 | 143 | 138 |
Pool # BL9251 1.45%, 10/1/2030 | 850 | 730 |
Pool # AM4789 4.18%, 11/1/2030 | 257 | 262 |
Pool # BL9891 1.37%, 12/1/2030 | 606 | 517 |
Pool # BS5580 3.68%, 1/1/2032 | 1,080 | 1,086 |
Pool # AN6149 3.14%, 7/1/2032 | 1,025 | 984 |
Pool # BM3226 3.44%, 10/1/2032 (e) | 1,396 | 1,364 |
Pool # AN7923 3.33%, 1/1/2033 | 640 | 619 |
Pool # BS5357 3.41%, 3/1/2033 | 799 | 779 |
Pool # AN9067 3.51%, 5/1/2033 | 345 | 339 |
Pool # BS5511 3.45%, 8/1/2033 | 1,075 | 1,051 |
Pool # BS5127 3.15%, 9/1/2033 | 615 | 583 |
Pool # BL1012 4.03%, 12/1/2033 | 335 | 342 |
Pool # BL0900 4.08%, 2/1/2034 | 190 | 196 |
Pool # BL7124 1.93%, 6/1/2035 | 725 | 611 |
Pool # AN4430 3.61%, 1/1/2037 | 707 | 696 |
Pool # BF0230 5.50%, 1/1/2058 | 1,690 | 1,855 |
Pool # BF0497 3.00%, 7/1/2060 | 785 | 739 |
FNMA/FHLMC UMBS, Single Family, 30 Year | ||
TBA, 3.50%, 7/25/2052 (f) | 405 | 389 |
TBA, 4.00%, 7/25/2052 (f) | 340 | 335 |
TBA, 4.50%, 7/25/2052 (f) | 95 | 95 |
GNMA II, 30 Year | ||
Pool # BY3432 3.50%, 9/20/2050 | 1,087 | 1,058 |
Pool # BR3929 3.50%, 10/20/2050 | 535 | 520 |
Pool # BW1726 3.50%, 10/20/2050 | 745 | 725 |
Pool # BS8546 2.50%, 12/20/2050 | 1,842 | 1,658 |
Pool # BR3928 3.00%, 12/20/2050 | 835 | 800 |
Pool # BU7538 3.00%, 12/20/2050 | 562 | 539 |
58 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Mortgage-Backed Securities — continued | ||
Pool # 785294 3.50%, 1/20/2051 | 1,803 | 1,790 |
Pool # CA8452 3.00%, 2/20/2051 | 2,372 | 2,267 |
Pool # CA9005 3.00%, 2/20/2051 | 511 | 500 |
Pool # CB1543 3.00%, 2/20/2051 | 1,700 | 1,606 |
Pool # CA3588 3.50%, 2/20/2051 | 1,609 | 1,566 |
Pool # CB1536 3.50%, 2/20/2051 | 1,787 | 1,744 |
Pool # CB1542 3.00%, 3/20/2051 | 1,190 | 1,124 |
Pool # CB4433 3.00%, 3/20/2051 | 2,011 | 1,880 |
Pool # CC0070 3.00%, 3/20/2051 | 301 | 290 |
Pool # CC8726 3.00%, 3/20/2051 | 383 | 362 |
Pool # CC8738 3.00%, 3/20/2051 | 468 | 442 |
Pool # CC8723 3.50%, 3/20/2051 | 2,199 | 2,140 |
Pool # CC0088 4.00%, 3/20/2051 | 88 | 87 |
Pool # CC0092 4.00%, 3/20/2051 | 208 | 209 |
Pool # CC8727 3.00%, 4/20/2051 | 573 | 542 |
Pool # CC8739 3.00%, 4/20/2051 | 1,583 | 1,495 |
Pool # CC8740 3.00%, 4/20/2051 | 1,409 | 1,330 |
Pool # CC8751 3.00%, 4/20/2051 | 292 | 275 |
Pool # CA3563 3.50%, 7/20/2051 | 1,093 | 1,075 |
Pool # CE2586 3.50%, 7/20/2051 | 1,541 | 1,500 |
Pool # MA7534 2.50%, 8/20/2051 | 8,593 | 7,880 |
Pool # CK1527 3.50%, 12/20/2051 | 1,129 | 1,104 |
Pool # CJ8184 3.50%, 1/20/2052 | 1,211 | 1,178 |
Pool # CK2716 3.50%, 2/20/2052 | 889 | 872 |
GNMA II, Other Pool # 785183 2.94%, 10/20/2070 (e) | 816 | 768 |
Total Mortgage-Backed Securities (Cost $88,352) | 78,949 | |
Asset-Backed Securities — 4.2% | ||
ACC Auto Trust | ||
Series 2021-A, Class A, 1.08%, 4/15/2027 (b) | 365 | 359 |
Series 2021-A, Class B, 1.79%, 4/15/2027 (b) | 925 | 884 |
ACC Trust Series 2021-1, Class B, 1.43%, 7/22/2024 (b) | 735 | 729 |
Accelerated LLC Series 2021-1H, Class B, 1.90%, 10/20/2040 ‡ (b) | 484 | 442 |
Affirm Asset Securitization Trust Series 2021-A, Class A, 0.88%, 8/15/2025 (b) | 695 | 686 |
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2, 1.94%, 8/15/2046 (b) | 870 | 769 |
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA, 3.20%, 6/15/2028 | 693 | 633 |
Series 2016-3, Class AA, 3.00%, 10/15/2028 | 905 | 820 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2021-1, Class B, 3.95%, 7/11/2030 | 935 | 780 |
Series 2019-1, Class AA, 3.15%, 2/15/2032 | 1,121 | 991 |
AMSR Trust | ||
Series 2020-SFR2, Class E1, 4.03%, 7/17/2037 ‡ (b) | 430 | 413 |
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 ‡ (b) | 220 | 201 |
Series 2020-SFR4, Class D, 2.01%, 11/17/2037 ‡ (b) | 810 | 741 |
Series 2020-SFR4, Class E2, 2.46%, 11/17/2037 ‡ (b) | 404 | 369 |
Series 2021-SFR2, Class E2, 2.58%, 8/17/2038 ‡ (b) | 340 | 297 |
Aqua Finance Trust Series 2020-AA, Class C, 3.97%, 7/17/2046 ‡ (b) | 325 | 306 |
Arivo Acceptance Auto Loan Receivables Trust Series 2021-1A, Class A, 1.19%, 1/15/2027 (b) | 140 | 136 |
Business Jet Securities LLC | ||
Series 2020-1A, Class A, 2.98%, 11/15/2035 (b) | 1,062 | 975 |
Series 2021-1A, Class A, 2.16%, 4/15/2036 (b) | 761 | 688 |
Series 2021-1A, Class B, 2.92%, 4/15/2036 ‡ (b) | 1,066 | 952 |
Series 2022-1A, Class A, 4.46%, 6/15/2037 (b) | 677 | 653 |
BXG Receivables Note Trust Series 2020-A, Class A, 1.55%, 2/28/2036 (b) | 408 | 377 |
Carvana Auto Receivables Trust Series 2020-P1, Class C, 1.32%, 11/9/2026 | 445 | 405 |
Continental Finance Credit Card ABS Master Trust Series 2020-1A, Class A, 2.24%, 12/15/2028 (b) | 210 | 198 |
CPS Auto Receivables Trust | ||
Series 2021-A, Class B, 0.61%, 2/18/2025 (b) | 143 | 142 |
Series 2021-B, Class C, 1.23%, 3/15/2027 (b) | 730 | 701 |
Credit Acceptance Auto Loan Trust Series 2020-2A, Class C, 2.73%, 11/15/2029 (b) | 845 | 815 |
Credito Real USA Auto Receivables Trust Series 2021-1A, Class A, 1.35%, 2/16/2027 (b) | 221 | 215 |
Crossroads Asset Trust Series 2021-A, Class A2, 0.82%, 3/20/2024 (b) | 111 | 109 |
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (b) | 525 | 475 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 59 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Delta Air Lines Pass-Through Trust | ||
Series 2015-1, Class B, 4.25%, 7/30/2023 | 198 | 193 |
Series 2020-1, Class A, 2.50%, 6/10/2028 | 523 | 458 |
Diamond Resorts Owner Trust | ||
Series 2021-1A, Class A, 1.51%, 11/21/2033 (b) | 191 | 179 |
Series 2021-1A, Class C, 2.70%, 11/21/2033 ‡ (b) | 468 | 439 |
DT Auto Owner Trust | ||
Series 2021-1A, Class C, 0.84%, 10/15/2026 (b) | 375 | 358 |
Series 2021-2A, Class C, 1.10%, 2/16/2027 (b) | 225 | 214 |
Series 2022-2A, Class D, 5.46%, 3/15/2028 (b) | 385 | 375 |
Elara HGV Timeshare Issuer LLC | ||
Series 2021-A, Class B, 1.74%, 8/27/2035 ‡ (b) | 477 | 439 |
Series 2021-A, Class C, 2.09%, 8/27/2035 ‡ (b) | 201 | 184 |
Exeter Automobile Receivables Trust Series 2021-2A, Class C, 0.98%, 6/15/2026 | 810 | 779 |
FHF Trust | ||
Series 2021-2A, Class A, 0.83%, 12/15/2026 (b) | 1,003 | 961 |
Series 2021-1A, Class A, 1.27%, 3/15/2027 (b) | 672 | 645 |
First Investors Auto Owner Trust Series 2021-1A, Class B, 0.89%, 3/15/2027 (b) | 395 | 383 |
FirstKey Homes Trust | ||
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 ‡ (b) | 1,215 | 1,049 |
Series 2022-SFR1, Class E1, 5.00%, 5/17/2039 ‡ (b) | 410 | 381 |
Flagship Credit Auto Trust | ||
Series 2021-1, Class B, 0.68%, 2/16/2027 (b) | 505 | 488 |
Series 2020-4, Class C, 1.28%, 2/16/2027 (b) | 665 | 639 |
FMC GMSR Issuer Trust Series 2021-GT2, Class A, 3.85%, 10/25/2026 (b) (e) | 745 | 665 |
FREED ABS Trust Series 2021-2, Class B, 1.03%, 6/19/2028 ‡ (b) | 819 | 810 |
Genesis Sales Finance Master Trust Series 2020-AA, Class A, 1.65%, 9/22/2025 (b) | 750 | 738 |
GLS Auto Receivables Issuer Trust Series 2020-4A, Class B, 0.87%, 12/16/2024 (b) | 171 | 170 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Home Partners of America Trust | ||
Series 2021-2, Class C, 2.40%, 12/17/2026 ‡ (b) | 1,149 | 1,027 |
Series 2021-3, Class D, 3.00%, 1/17/2041 ‡ (b) | 691 | 615 |
JetBlue Pass-Through Trust Series 2020-1, Class B, 7.75%, 11/15/2028 | 393 | 402 |
Lendbuzz Securitization Trust Series 2021-1A, Class A, 1.46%, 6/15/2026 (b) | 887 | 861 |
Lendingpoint Asset Securitization Trust | ||
Series 2021-A, Class A, 1.00%, 12/15/2028 (b) | 502 | 497 |
Series 2021-A, Class B, 1.46%, 12/15/2028 ‡ (b) | 550 | 532 |
Series 2021-B, Class A, 1.11%, 2/15/2029 (b) | 758 | 744 |
Series 2021-B, Class B, 1.68%, 2/15/2029 ‡ (b) | 595 | 560 |
LendingPoint Asset Securitization Trust Series 2020-REV1, Class A, 2.73%, 10/15/2028 (b) | 1,420 | 1,395 |
LL ABS Trust Series 2021-1A, Class A, 1.07%, 5/15/2029 (b) | 373 | 359 |
Mariner Finance Issuance Trust | ||
Series 2019-AA, Class A, 2.96%, 7/20/2032 (b) | 1,180 | 1,171 |
Series 2021-AA, Class A, 1.86%, 3/20/2036 (b) | 1,145 | 1,013 |
Marlette Funding Trust | ||
Series 2021-1A, Class A, 0.60%, 6/16/2031 (b) | 47 | 47 |
Series 2021-1A, Class B, 1.00%, 6/16/2031 ‡ (b) | 897 | 879 |
Mercury Financial Credit Card Master Trust Series 2021-1A, Class A, 1.54%, 3/20/2026 (b) | 1,225 | 1,166 |
Mission Lane Credit Card Master Trust Series 2021-A, Class A, 1.59%, 9/15/2026 (b) | 995 | 958 |
MVW LLC | ||
Series 2021-2A, Class C, 2.23%, 5/20/2039 ‡ (b) | 1,236 | 1,127 |
Series 2021-1WA, Class B, 1.44%, 1/22/2041 ‡ (b) | 194 | 176 |
NMEF Funding LLC Series 2021-A, Class B, 1.85%, 12/15/2027 ‡ (b) | 710 | 669 |
NRZ Excess Spread-Collateralized Notes | ||
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (b) | 674 | 640 |
Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (b) | 562 | 516 |
60 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (b) | 1,437 | 1,313 |
Octane Receivables Trust Series 2021-1A, Class A, 0.93%, 3/22/2027 (b) | 528 | 513 |
OneMain Financial Issuance Trust Series 2020-2A, Class D, 3.45%, 9/14/2035 ‡ (b) | 295 | 262 |
Oportun Issuance Trust Series 2021-B, Class A, 1.47%, 5/8/2031 (b) | 2,235 | 2,073 |
Orange Lake Timeshare Trust Series 2016-A, Class A, 2.61%, 3/8/2029 (b) | 153 | 148 |
Pagaya AI Debt Selection Trust | ||
Series 2021-1, Class A, 1.18%, 11/15/2027 (b) | 804 | 787 |
Series 2021-HG1, Class A, 1.22%, 1/16/2029 (b) | 1,332 | 1,266 |
Series 2021-3, Class A, 1.15%, 5/15/2029 (b) | 1,333 | 1,296 |
PRET LLC Series 2021-RN4, Class A1, 2.49%, 10/25/2051 (b) (e) | 1,251 | 1,192 |
Pretium Mortgage Credit Partners I LLC | ||
Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 ‡ (b) (d) | 1,523 | 1,441 |
Series 2021-NPL4, Class A1, 2.36%, 10/27/2060 ‡ (b) (d) | 1,135 | 1,066 |
Progress Residential Trust | ||
Series 2020-SFR3, Class A, 1.29%, 10/17/2027 (b) | 568 | 521 |
Series 2020-SFR3, Class B, 1.50%, 10/17/2027 ‡ (b) | 420 | 379 |
Series 2020-SFR1, Class E, 3.03%, 4/17/2037 ‡ (b) | 855 | 794 |
Series 2020-SFR2, Class D, 3.87%, 6/17/2037 (b) | 315 | 305 |
Series 2021-SFR2, Class D, 2.20%, 4/19/2038 ‡ (b) | 2,393 | 2,135 |
Regional Management Issuance Trust Series 2021-1, Class A, 1.68%, 3/17/2031 (b) | 995 | 918 |
Republic Finance Issuance Trust | ||
Series 2020-A, Class A, 2.47%, 11/20/2030 (b) | 675 | 649 |
Series 2021-A, Class A, 2.30%, 12/22/2031 (b) | 1,697 | 1,574 |
Santander Consumer Auto Receivables Trust Series 2021-AA, Class B, 0.71%, 8/17/2026 (b) | 535 | 498 |
Sierra Timeshare Receivables Funding LLC | ||
Series 2021-1A, Class B, 1.34%, 11/20/2037 ‡ (b) | 321 | 299 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2021-2A, Class B, 1.80%, 9/20/2038 ‡ (b) | 380 | 359 |
Theorem Funding Trust Series 2021-1A, Class A, 1.21%, 12/15/2027 (b) | 699 | 684 |
Tricolor Auto Securitization Trust | ||
Series 2021-1A, Class B, 1.00%, 6/17/2024 (b) | 270 | 266 |
Series 2021-1A, Class C, 1.33%, 9/16/2024 (b) | 315 | 308 |
United Airlines Pass-Through Trust | ||
Series 2016-2, Class B, 3.65%, 10/7/2025 | 203 | 185 |
Series 2019-2, Class B, 3.50%, 5/1/2028 | 475 | 411 |
Series 2016-1, Class A, 3.45%, 7/7/2028 | 515 | 446 |
Series 2016-2, Class A, 3.10%, 10/7/2028 | 751 | 641 |
Series 2018-1, Class A, 3.70%, 3/1/2030 | 567 | 501 |
Upstart Pass-Through Trust Series 2021-ST2, Class A, 2.50%, 4/20/2027 (b) | 199 | 191 |
Upstart Securitization Trust | ||
Series 2020-3, Class A, 1.70%, 11/20/2030 (b) | 226 | 226 |
Series 2021-1, Class A, 0.87%, 3/20/2031 (b) | 98 | 97 |
US Auto Funding Series 2021-1A, Class B, 1.49%, 3/17/2025 (b) | 530 | 511 |
VCAT LLC | ||
Series 2021-NPL1, Class A1, 2.29%, 12/26/2050 ‡ (b) (d) | 368 | 354 |
Series 2021-NPL2, Class A1, 2.12%, 3/27/2051 (b) (d) | 470 | 448 |
Veros Auto Receivables Trust Series 2021-1, Class A, 0.92%, 10/15/2026 (b) | 339 | 333 |
VOLT XCII LLC Series 2021-NPL1, Class A1, 1.89%, 2/27/2051 (b) (d) | 530 | 504 |
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 ‡ (b) (d) | 2,027 | 1,921 |
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 ‡ (b) (d) | 1,731 | 1,644 |
VOLT XCIX LLC Series 2021-NPL8, Class A1, 2.12%, 4/25/2051 ‡ (b) (d) | 929 | 877 |
VOLT XCV LLC Series 2021-NPL4, Class A1, 2.24%, 3/27/2051 ‡ (b) (d) | 774 | 738 |
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (b) (d) | 1,306 | 1,246 |
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 ‡ (b) (d) | 1,523 | 1,449 |
Westgate Resorts LLC Series 2022-1A, Class B, 2.29%, 8/20/2036 ‡ (b) | 497 | 475 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 61 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Westlake Automobile Receivables Trust Series 2020-3A, Class C, 1.24%, 11/17/2025 (b) | 300 | 293 |
Total Asset-Backed Securities (Cost $81,792) | 76,699 | |
U.S. Treasury Obligations — 3.9% | ||
U.S. Treasury Bonds | ||
1.13%, 5/15/2040 | 10,092 | 7,025 |
1.13%, 8/15/2040 | 9,774 | 6,752 |
1.88%, 2/15/2041 | 1,354 | 1,062 |
2.25%, 5/15/2041 | 259 | 216 |
1.75%, 8/15/2041 | 560 | 426 |
2.00%, 11/15/2041 | 260 | 207 |
2.25%, 8/15/2046 | 1,235 | 996 |
1.25%, 5/15/2050 | 853 | 543 |
1.38%, 8/15/2050 | 16,580 | 10,914 |
1.63%, 11/15/2050 | 1,836 | 1,291 |
1.88%, 2/15/2051 | 599 | 449 |
U.S. Treasury Notes | ||
0.13%, 1/31/2023 (g) | 5,788 | 5,706 |
1.75%, 7/31/2024 | 4,945 | 4,821 |
2.88%, 6/15/2025 | 1,290 | 1,285 |
1.88%, 2/28/2027 | 4,244 | 4,028 |
1.25%, 4/30/2028 | 2,990 | 2,697 |
1.25%, 5/31/2028 | 3,392 | 3,055 |
1.00%, 7/31/2028 | 1,570 | 1,389 |
1.88%, 2/28/2029 | 1,082 | 1,006 |
2.88%, 4/30/2029 | 4,385 | 4,334 |
1.13%, 2/15/2031 | 5,895 | 5,066 |
1.63%, 5/15/2031 | 535 | 478 |
1.88%, 2/15/2032 | 3,570 | 3,234 |
U.S. Treasury STRIPS Bonds | ||
1.04%, 8/15/2026 (h) | 2,735 | 2,415 |
1.14%, 5/15/2027 (h) | 2,780 | 2,393 |
Total U.S. Treasury Obligations (Cost $82,578) | 71,788 | |
Collateralized Mortgage Obligations — 1.1% | ||
Ajax Mortgage Loan Trust Series 2021-B, Class A, 2.24%, 6/25/2066 ‡ (b) (d) | 945 | 880 |
Bayview Finance LLC, 0.00%, 7/12/2033 ‡ | 1,005 | 1,000 |
Cascade MH Asset Trust Series 2021-MH1, Class A1, 1.75%, 2/25/2046 (b) | 1,217 | 1,089 |
CFMT LLC | ||
Series 2020-HB4, Class A, 0.95%, 12/26/2030 (b) (e) | 217 | 214 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2021-HB5, Class A, 0.80%, 2/25/2031 (b) (e) | 951 | 934 |
CSMC Trust Series 2021-RPL1, Class A1, 1.67%, 9/27/2060 (b) (e) | 1,064 | 1,007 |
FNMA Trust, Whole Loan Series 2002-W8, Class A1, 6.50%, 6/25/2042 | 457 | 498 |
FNMA, Grantor Trust, Whole Loan Series 2001-T12, Class A1, 6.50%, 8/25/2041 | 224 | 237 |
FNMA, REMIC | ||
Series 2018-72, Class VB, 3.50%, 10/25/2031 | 370 | 370 |
Series 2019-7, Class CA, 3.50%, 11/25/2057 | 2,000 | 1,999 |
FNMA, REMIC Trust, Whole Loan Series 2002-W3, Class A4, 6.50%, 11/25/2041 | 908 | 970 |
GNMA | ||
Series 2015-H11, Class FC, 1.35%, 5/20/2065 (e) | 588 | 582 |
Series 2021-H14, Class YD, 8.30%, 6/20/2071 (e) | 1,000 | 1,119 |
Legacy Mortgage Asset Trust Series 2021-GS1, Class A1, 1.89%, 10/25/2066 (b) (d) | 473 | 457 |
LHOME Mortgage Trust Series 2021-RTL1, Class A1, 2.09%, 9/25/2026 (b) (e) | 465 | 446 |
PRPM LLC | ||
Series 2021-2, Class A1, 2.12%, 3/25/2026 (b) (e) | 775 | 738 |
Series 2021-10, Class A1, 2.49%, 10/25/2026 (b) (d) | 350 | 331 |
Seasoned Credit Risk Transfer Trust | ||
Series 2018-1, Class M60C, 3.50%, 5/25/2057 | 583 | 574 |
Series 2019-2, Class M55D, 4.00%, 8/25/2058 ‡ | 1,073 | 1,074 |
Series 2019-3, Class M55D, 4.00%, 10/25/2058 ‡ | 948 | 949 |
Series 2020-3, Class M5TW, 3.00%, 5/25/2060 ‡ | 1,384 | 1,336 |
Series 2020-3, Class TTW, 3.00%, 5/25/2060 ‡ | 1,403 | 1,367 |
Toorak Mortgage Corp. Ltd. Series 2020-1, Class A1, 2.73%, 3/25/2023 (b) (d) | 264 | 262 |
Towd Point Mortgage Trust Series 2021-R1, Class A1, 2.92%, 11/30/2060 (b) (e) | 2,052 | 1,870 |
Total Collateralized Mortgage Obligations (Cost $21,665) | 20,303 |
62 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Commercial Mortgage-Backed Securities — 0.5% | ||
ACRE Commercial Mortgage Ltd. | ||
Series 2021-FL4, Class A, 2.44%, 12/18/2037 (b) (e) | 498 | 492 |
Series 2021-FL4, Class AS, 2.71%, 12/18/2037 (b) (e) | 575 | 564 |
BPR Trust Series 2021-KEN, Class A, 2.57%, 2/15/2029 (b) (e) | 415 | 409 |
FHLMC, Multi-Family Structured Credit Risk | ||
Series 2021-MN2, Class M1, 2.73%, 7/25/2041 (b) (e) | 927 | 836 |
Series 2021-MN1, Class M1, 2.93%, 1/25/2051 (b) (e) | 247 | 230 |
FHLMC, Multi-Family Structured Pass-Through Certificates | ||
Series K-1511, Class A1, 3.28%, 10/25/2030 | 792 | 783 |
Series K-1510, Class A2, 3.72%, 1/25/2031 | 295 | 299 |
FNMA ACES | ||
Series 2022-M1S, Class A2, 2.08%, 4/25/2032 | 1,620 | 1,406 |
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033 | 249 | 239 |
Series 2021-M3, Class X1, IO, 2.09%, 11/25/2033 (e) | 1,599 | 183 |
FNMA, Other 3.08%, 1/1/2029 | 1,521 | 1,546 |
FREMF Mortgage Trust | ||
Series 2017-KGX1, Class BFX, 3.71%, 10/25/2027 (b) (e) | 595 | 550 |
Series 2015-K48, Class C, 3.77%, 8/25/2048 (b) (e) | 50 | 48 |
Series 2016-K56, Class B, 4.08%, 6/25/2049 (b) (e) | 450 | 441 |
Series 2017-K728, Class C, 3.76%, 11/25/2050 (b) (e) | 230 | 224 |
KKR Industrial Portfolio Trust Series 2021-KDIP, Class B, 2.12%, 12/15/2037 ‡ (b) (e) | 442 | 423 |
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (b) | 885 | 751 |
Total Commercial Mortgage-Backed Securities (Cost $10,031) | 9,424 | |
Foreign Government Securities — 0.1% | ||
Kingdom of Saudi Arabia (Saudi Arabia) 2.25%, 2/2/2033 (b) | 200 | 166 |
Republic of Panama (Panama) 3.16%, 1/23/2030 | 300 | 267 |
Republic of Peru (Peru) 2.78%, 12/1/2060 | 162 | 100 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
United Mexican States (Mexico) | ||
2.66%, 5/24/2031 | 1,035 | 852 |
3.50%, 2/12/2034 | 727 | 601 |
Total Foreign Government Securities (Cost $2,444) | 1,986 | |
SHARES (000) | ||
Short Term Investments — 4.7% | ||
Investment Companies — 4.7% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (i) (Cost $86,271) | 86,271 | 86,271 |
Total Investments — 99.0% (Cost $1,858,360) | 1,817,889 | |
Other Assets Less Liabilities — 1.0% | 18,098 | |
NET ASSETS — 100.0% | 1,835,987 |
Percentages indicated are based on net assets. |
Abbreviations | |
ABS | Asset-Backed Securities |
ACES | Alternative Credit Enhancement Securities |
CSMC | Credit Suisse Mortgage Trust |
ETF | Exchange Traded Fund |
FHLMC | Federal Home Loan Mortgage Corp. |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
ICE | Intercontinental Exchange |
IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. |
LIBOR | London Interbank Offered Rate |
REIT | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. |
TBA | To Be Announced; Security is subject to delayed delivery. |
UMBS | Uniform Mortgage-Backed Securities |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 63 |
AS OF June 30, 2022 (continued)
‡ | Value determined using significant unobservable inputs. | |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(c) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022. | |
(d) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of June 30, 2022. | |
(e) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022. |
(f) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(g) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. | |
(h) | The rate shown is the effective yield as of June 30, 2022. | |
(i) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 141 | 09/16/2022 | USD | 26,762 | (739) |
Short Contracts | |||||
DJ US Real Estate Index | (250) | 09/16/2022 | USD | (8,935) | (318) |
MSCI EAFE E-Mini Index | (105) | 09/16/2022 | USD | (9,760) | 11 |
MSCI Emerging Markets E-Mini Index | (187) | 09/16/2022 | USD | (9,385) | (87) |
(394) | |||||
(1,133) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
64 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 48.8% | ||
Fixed Income — 12.8% | ||
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 21,218 | 158,071 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 5,452 | 31,678 |
JPMorgan High Yield Fund Class R6 Shares (a) | 14,832 | 91,217 |
Total Fixed Income | 280,966 | |
International Equity — 7.5% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 10,483 | 164,683 |
U.S. Equity — 28.5% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 10,994 | 624,806 |
Total Investment Companies (Cost $1,014,378) | 1,070,455 | |
Exchange-Traded Funds — 30.2% | ||
Alternative Assets — 2.5% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 623 | 54,675 |
Fixed Income — 6.2% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 95 | 4,149 |
JPMorgan Inflation Managed Bond ETF (a) | 288 | 13,894 |
JPMorgan U.S. Aggregate Bond ETF (a) | 2,476 | 118,802 |
Total Fixed Income | 136,845 | |
International Equity — 14.8% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 6,880 | 325,358 |
U.S. Equity — 6.7% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 1,127 | 78,640 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 1,340 | 67,478 |
Total U.S. Equity | 146,118 | |
Total Exchange-Traded Funds (Cost $686,313) | 662,996 | |
PRINCIPAL AMOUNT ($000) | ||
Corporate Bonds — 4.6% | ||
Aerospace & Defense — 0.2% | ||
Boeing Co. (The) | ||
1.17%, 2/4/2023 | 85 | 84 |
1.95%, 2/1/2024 | 85 | 82 |
1.43%, 2/4/2024 | 170 | 162 |
2.50%, 3/1/2025 | 249 | 235 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Aerospace & Defense — continued | ||
2.75%, 2/1/2026 | 85 | 79 |
2.20%, 2/4/2026 | 105 | 95 |
2.70%, 2/1/2027 | 1,496 | 1,331 |
3.45%, 11/1/2028 | 180 | 160 |
L3Harris Technologies, Inc. 1.80%, 1/15/2031 | 100 | 80 |
Northrop Grumman Corp. | ||
5.15%, 5/1/2040 | 220 | 223 |
3.85%, 4/15/2045 | 115 | 97 |
Raytheon Technologies Corp. | ||
2.25%, 7/1/2030 | 373 | 322 |
2.82%, 9/1/2051 | 385 | 275 |
3,225 | ||
Airlines — 0.0% ^ | ||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 | 719 | 612 |
Automobiles — 0.1% | ||
General Motors Co. 6.80%, 10/1/2027 | 292 | 308 |
Hyundai Capital America | ||
1.15%, 11/10/2022 (b) | 945 | 938 |
2.65%, 2/10/2025 (b) | 596 | 569 |
1.30%, 1/8/2026 (b) | 90 | 80 |
2.38%, 10/15/2027 (b) | 730 | 642 |
Nissan Motor Co. Ltd. (Japan) 3.52%, 9/17/2025 (b) | 289 | 273 |
2,810 | ||
Banks — 0.9% | ||
AIB Group plc (Ireland) 4.75%, 10/12/2023 (b) | 865 | 865 |
Australia & New Zealand Banking Group Ltd. (Australia) 4.40%, 5/19/2026 (b) | 330 | 325 |
Banco Santander SA (Spain) | ||
1.85%, 3/25/2026 | 400 | 360 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (c) | 200 | 174 |
2.75%, 12/3/2030 | 600 | 477 |
Bank of America Corp. | ||
(SOFR + 1.01%), 1.20%, 10/24/2026 (c) | 511 | 457 |
(SOFR + 1.05%), 2.55%, 2/4/2028 (c) | 125 | 114 |
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (c) | 1,230 | 1,173 |
(SOFR + 1.58%), 4.38%, 4/27/2028 (c) | 295 | 290 |
(SOFR + 1.33%), 2.97%, 2/4/2033 (c) | 175 | 149 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 65 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Banks — continued | ||
(SOFR + 1.93%), 2.68%, 6/19/2041 (c) | 1,081 | 778 |
Bank of Ireland Group plc (Ireland) | ||
4.50%, 11/25/2023 (b) | 460 | 459 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (b) (c) | 203 | 176 |
Banque Federative du Credit Mutuel SA (France) 1.60%, 10/4/2026 (b) | 345 | 307 |
Barclays plc (United Kingdom) | ||
4.34%, 1/10/2028 | 265 | 253 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 11/24/2032 (c) | 200 | 161 |
BNP Paribas SA (France) | ||
(SOFR + 1.61%), 1.90%, 9/30/2028 (b) (c) | 665 | 568 |
(SOFR + 1.22%), 2.16%, 9/15/2029 (b) (c) | 346 | 289 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 2.59%, 8/12/2035 (b) (c) | 250 | 197 |
Citigroup, Inc. | ||
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 7/24/2028 (c) | 500 | 472 |
(ICE LIBOR USD 3 Month + 1.15%), 3.52%, 10/27/2028 (c) | 442 | 413 |
(SOFR + 1.17%), 2.56%, 5/1/2032 (c) | 110 | 91 |
(ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (c) | 367 | 317 |
Commonwealth Bank of Australia (Australia) 3.31%, 3/11/2041 (b) | 255 | 193 |
Credit Agricole SA (France) | ||
4.38%, 3/17/2025 (b) | 580 | 570 |
(SOFR + 0.89%), 1.25%, 1/26/2027 (b) (c) | 617 | 543 |
DNB Bank ASA (Norway) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.68%), 1.60%, 3/30/2028 (b) (c) | 320 | 278 |
HSBC Holdings plc (United Kingdom) | ||
(SOFR + 1.29%), 1.59%, 5/24/2027 (c) | 880 | 773 |
(SOFR + 1.73%), 2.01%, 9/22/2028 (c) | 1,660 | 1,420 |
(SOFR + 1.29%), 2.21%, 8/17/2029 (c) | 200 | 168 |
Intesa Sanpaolo SpA (Italy) Series XR, 3.25%, 9/23/2024 (b) | 400 | 387 |
Lloyds Banking Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.63%, 5/11/2027 (c) | 205 | 182 |
Mitsubishi UFJ Financial Group, Inc. (Japan) 3.74%, 3/7/2029 | 813 | 771 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Banks — continued | ||
Mizuho Financial Group, Inc. (Japan) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.23%, 5/22/2027 (c) | 210 | 183 |
NatWest Group plc (United Kingdom) (ICE LIBOR USD 3 Month + 1.87%), 4.44%, 5/8/2030 (c) | 375 | 353 |
Nordea Bank Abp (Finland) 1.50%, 9/30/2026 (b) | 200 | 178 |
Santander UK Group Holdings plc (United Kingdom) (SOFR + 0.99%), 1.67%, 6/14/2027 (c) | 215 | 188 |
Societe Generale SA (France) | ||
4.25%, 4/14/2025 (b) | 780 | 764 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.49%, 12/14/2026 (b) (c) | 300 | 265 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.79%, 6/9/2027 (b) | 255 | 222 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 6/9/2032 (b) | 590 | 471 |
Standard Chartered plc (United Kingdom) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.17%), 1.32%, 10/14/2023 (b) (c) | 1,105 | 1,097 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.46%, 1/14/2027 (b) (c) | 200 | 176 |
UniCredit SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (b) (c) | 265 | 229 |
Wells Fargo & Co. | ||
4.30%, 7/22/2027 | 1,500 | 1,483 |
(SOFR + 2.10%), 2.39%, 6/2/2028 (c) | 484 | 433 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (c) | 315 | 292 |
Westpac Banking Corp. (Australia) | ||
2.96%, 11/16/2040 | 50 | 36 |
3.13%, 11/18/2041 | 217 | 159 |
20,679 | ||
Beverages — 0.1% | ||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.75%, 7/15/2042 | 940 | 761 |
Keurig Dr Pepper, Inc. 3.80%, 5/1/2050 | 244 | 194 |
955 |
66 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Biotechnology — 0.1% | ||
AbbVie, Inc. | ||
2.95%, 11/21/2026 | 265 | 251 |
3.20%, 11/21/2029 | 624 | 574 |
4.05%, 11/21/2039 | 600 | 535 |
4.25%, 11/21/2049 | 210 | 186 |
Amgen, Inc. | ||
3.15%, 2/21/2040 | 429 | 339 |
3.00%, 1/15/2052 | 100 | 71 |
Biogen, Inc. 2.25%, 5/1/2030 | 125 | 103 |
Gilead Sciences, Inc. 2.60%, 10/1/2040 | 253 | 185 |
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030 | 415 | 333 |
2,577 | ||
Building Products — 0.0% ^ | ||
Masco Corp. 2.00%, 10/1/2030 | 203 | 160 |
Capital Markets — 0.5% | ||
Brookfield Finance, Inc. (Canada) 3.50%, 3/30/2051 | 250 | 180 |
Credit Suisse AG (Switzerland) 3.70%, 2/21/2025 | 500 | 488 |
Credit Suisse Group AG (Switzerland) | ||
(SOFR + 0.98%), 1.31%, 2/2/2027 (b) (c) | 250 | 215 |
4.28%, 1/9/2028 (b) | 1,015 | 947 |
Deutsche Bank AG (Germany) | ||
(SOFR + 1.87%), 2.13%, 11/24/2026 (c) | 795 | 706 |
(SOFR + 1.72%), 3.04%, 5/28/2032 (c) | 408 | 323 |
Goldman Sachs Group, Inc. (The) | ||
(SOFR + 0.57%), 0.67%, 3/8/2024 | 728 | 711 |
4.25%, 10/21/2025 | 1,293 | 1,283 |
Series VAR, (SOFR + 0.79%), 1.09%, 12/9/2026 (c) | 1,149 | 1,023 |
(SOFR + 1.11%), 2.64%, 2/24/2028 | 274 | 249 |
(ICE LIBOR USD 3 Month + 1.51%), 3.69%, 6/5/2028 (c) | 693 | 657 |
Macquarie Group Ltd. (Australia) | ||
(SOFR + 1.07%), 1.34%, 1/12/2027 (b) (c) | 420 | 369 |
(SOFR + 1.53%), 2.87%, 1/14/2033 (b) (c) | 200 | 163 |
Morgan Stanley | ||
5.00%, 11/24/2025 | 968 | 983 |
3.13%, 7/27/2026 | 883 | 842 |
(SOFR + 1.20%), 2.51%, 10/20/2032 (c) | 415 | 343 |
(SOFR + 1.49%), 3.22%, 4/22/2042 (c) | 255 | 201 |
S&P Global, Inc. | ||
2.70%, 3/1/2029 (b) | 311 | 283 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Capital Markets — continued | ||
4.25%, 5/1/2029 (b) | 285 | 282 |
UBS Group AG (Switzerland) | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 4.49%, 5/12/2026 (b) (c) | 365 | 364 |
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (b) (c) | 540 | 429 |
11,041 | ||
Chemicals — 0.0% ^ | ||
DuPont de Nemours, Inc. 5.32%, 11/15/2038 | 197 | 195 |
International Flavors & Fragrances, Inc. 3.47%, 12/1/2050 (b) | 141 | 103 |
LYB International Finance III LLC 1.25%, 10/1/2025 | 127 | 115 |
Nutrien Ltd. (Canada) 5.00%, 4/1/2049 | 111 | 110 |
523 | ||
Construction & Engineering — 0.0% ^ | ||
Quanta Services, Inc. 2.35%, 1/15/2032 | 350 | 271 |
Consumer Finance — 0.2% | ||
AerCap Ireland Capital DAC (Ireland) | ||
3.15%, 2/15/2024 | 400 | 387 |
6.50%, 7/15/2025 | 200 | 205 |
2.45%, 10/29/2026 | 150 | 131 |
4.63%, 10/15/2027 | 880 | 828 |
Avolon Holdings Funding Ltd. (Ireland) | ||
2.88%, 2/15/2025 (b) | 207 | 190 |
5.50%, 1/15/2026 (b) | 650 | 631 |
2.13%, 2/21/2026 (b) | 110 | 95 |
4.25%, 4/15/2026 (b) | 20 | 18 |
2.53%, 11/18/2027 (b) | 1,092 | 890 |
Capital One Financial Corp. | ||
3.80%, 1/31/2028 | 200 | 188 |
(SOFR + 1.27%), 2.62%, 11/2/2032 (c) | 230 | 185 |
General Motors Financial Co., Inc. 3.80%, 4/7/2025 | 345 | 336 |
Park Aerospace Holdings Ltd. (Ireland) | ||
4.50%, 3/15/2023 (b) | 575 | 573 |
5.50%, 2/15/2024 (b) | 59 | 59 |
4,716 | ||
Containers & Packaging — 0.0% ^ | ||
Graphic Packaging International LLC 1.51%, 4/15/2026 (b) | 238 | 215 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 67 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Diversified Consumer Services — 0.0% ^ | ||
University of Miami Series 2022, 4.06%, 4/1/2052 | 110 | 99 |
Diversified Financial Services — 0.0% ^ | ||
Element Fleet Management Corp. (Canada) 1.60%, 4/6/2024 (b) | 130 | 124 |
Shell International Finance BV (Netherlands) 3.13%, 11/7/2049 | 215 | 165 |
289 | ||
Diversified Telecommunication Services — 0.1% | ||
AT&T, Inc. | ||
2.30%, 6/1/2027 | 582 | 531 |
3.50%, 6/1/2041 | 584 | 466 |
3.55%, 9/15/2055 | 369 | 277 |
NBN Co. Ltd. (Australia) 2.63%, 5/5/2031 (b) | 500 | 426 |
Verizon Communications, Inc. | ||
2.10%, 3/22/2028 | 150 | 133 |
2.36%, 3/15/2032 | 132 | 110 |
2.65%, 11/20/2040 | 204 | 150 |
2,093 | ||
Electric Utilities — 0.3% | ||
Duke Energy Indiana LLC Series YYY, 3.25%, 10/1/2049 | 113 | 87 |
Duke Energy Progress LLC 2.90%, 8/15/2051 | 165 | 122 |
Duquesne Light Holdings, Inc. 2.78%, 1/7/2032 (b) | 85 | 70 |
Edison International 5.75%, 6/15/2027 | 225 | 228 |
Emera US Finance LP (Canada) 4.75%, 6/15/2046 | 223 | 196 |
Entergy Arkansas LLC 2.65%, 6/15/2051 | 84 | 58 |
Entergy Louisiana LLC | ||
4.00%, 3/15/2033 | 166 | 158 |
2.90%, 3/15/2051 | 70 | 50 |
Evergy, Inc. 2.90%, 9/15/2029 | 441 | 389 |
Fells Point Funding Trust 3.05%, 1/31/2027 (b) | 530 | 489 |
FirstEnergy Transmission LLC 4.55%, 4/1/2049 (b) | 210 | 169 |
Fortis, Inc. (Canada) 3.06%, 10/4/2026 | 283 | 266 |
Indiana Michigan Power Co. 3.25%, 5/1/2051 | 150 | 114 |
ITC Holdings Corp. 2.95%, 5/14/2030 (b) | 136 | 120 |
Jersey Central Power & Light Co. 4.30%, 1/15/2026 (b) | 212 | 209 |
Massachusetts Electric Co. 4.00%, 8/15/2046 (b) | 103 | 85 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Electric Utilities — continued | ||
New England Power Co. (United Kingdom) 2.81%, 10/6/2050 (b) | 280 | 188 |
NRG Energy, Inc. | ||
2.00%, 12/2/2025 (b) | 105 | 95 |
2.45%, 12/2/2027 (b) | 365 | 313 |
OGE Energy Corp. 0.70%, 5/26/2023 | 130 | 127 |
Ohio Power Co. Series R, 2.90%, 10/1/2051 | 200 | 143 |
Oklahoma Gas and Electric Co. 0.55%, 5/26/2023 | 160 | 156 |
Pacific Gas and Electric Co. | ||
1.37%, 3/10/2023 | 665 | 655 |
1.70%, 11/15/2023 | 170 | 164 |
3.25%, 2/16/2024 | 460 | 448 |
3.45%, 7/1/2025 | 130 | 122 |
2.95%, 3/1/2026 | 328 | 298 |
3.75%, 8/15/2042 (d) | 79 | 53 |
4.30%, 3/15/2045 | 80 | 58 |
PacifiCorp 4.15%, 2/15/2050 | 135 | 122 |
PG&E Wildfire Recovery Funding LLC Series A-2, 4.26%, 6/1/2036 | 130 | 131 |
Public Service Co. of Oklahoma Series K, 3.15%, 8/15/2051 | 90 | 66 |
Southern California Edison Co. | ||
Series 20C, 1.20%, 2/1/2026 | 202 | 181 |
Series C, 4.13%, 3/1/2048 | 131 | 108 |
Union Electric Co. 3.90%, 4/1/2052 | 191 | 168 |
Vistra Operations Co. LLC 4.88%, 5/13/2024 (b) | 420 | 418 |
6,824 | ||
Energy Equipment & Services — 0.0% ^ | ||
Schlumberger Holdings Corp. 4.00%, 12/21/2025 (b) | 296 | 294 |
Entertainment — 0.1% | ||
Activision Blizzard, Inc. 1.35%, 9/15/2030 | 236 | 189 |
Take-Two Interactive Software, Inc. 3.70%, 4/14/2027 | 357 | 347 |
Walt Disney Co. (The) | ||
2.65%, 1/13/2031 | 386 | 340 |
3.50%, 5/13/2040 | 371 | 316 |
1,192 | ||
Equity Real Estate Investment Trusts (REITs) — 0.3% | ||
American Campus Communities Operating Partnership LP 2.25%, 1/15/2029 | 150 | 139 |
68 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
American Tower Corp. | ||
1.50%, 1/31/2028 | 185 | 154 |
1.88%, 10/15/2030 | 1,039 | 808 |
Brixmor Operating Partnership LP | ||
2.25%, 4/1/2028 | 170 | 146 |
2.50%, 8/16/2031 | 100 | 78 |
Corporate Office Properties LP 2.75%, 4/15/2031 | 271 | 219 |
CubeSmart LP 2.00%, 2/15/2031 | 505 | 401 |
Equinix, Inc. | ||
2.90%, 11/18/2026 | 314 | 292 |
2.00%, 5/15/2028 | 424 | 364 |
Healthcare Trust of America Holdings LP 2.00%, 3/15/2031 | 414 | 321 |
Healthpeak Properties, Inc. 2.13%, 12/1/2028 | 323 | 279 |
Life Storage LP 2.40%, 10/15/2031 | 290 | 231 |
Office Properties Income Trust | ||
2.65%, 6/15/2026 | 280 | 238 |
2.40%, 2/1/2027 | 350 | 286 |
Physicians Realty LP 2.63%, 11/1/2031 | 130 | 105 |
Realty Income Corp. 1.80%, 3/15/2033 | 275 | 210 |
Sabra Health Care LP 3.20%, 12/1/2031 | 205 | 163 |
Safehold Operating Partnership LP 2.85%, 1/15/2032 | 391 | 314 |
Scentre Group Trust 1 (Australia) 3.63%, 1/28/2026 (b) | 565 | 544 |
UDR, Inc. | ||
2.10%, 8/1/2032 | 416 | 324 |
1.90%, 3/15/2033 | 65 | 49 |
WP Carey, Inc. | ||
2.40%, 2/1/2031 | 163 | 133 |
2.45%, 2/1/2032 | 160 | 129 |
2.25%, 4/1/2033 | 90 | 69 |
5,996 | ||
Food & Staples Retailing — 0.1% | ||
7-Eleven, Inc. | ||
0.63%, 2/10/2023 (b) | 595 | 583 |
1.30%, 2/10/2028 (b) | 112 | 93 |
2.50%, 2/10/2041 (b) | 112 | 76 |
Alimentation Couche-Tard, Inc. (Canada) | ||
3.44%, 5/13/2041 (b) | 300 | 224 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Food & Staples Retailing — continued | ||
3.63%, 5/13/2051 (b) | 335 | 243 |
CVS Pass-Through Trust Series 2014, 4.16%, 8/11/2036 (b) | 111 | 107 |
1,326 | ||
Food Products — 0.0% ^ | ||
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 143 | 118 |
Kraft Heinz Foods Co. | ||
4.63%, 10/1/2039 | 240 | 211 |
4.38%, 6/1/2046 | 132 | 110 |
Smithfield Foods, Inc. 3.00%, 10/15/2030 (b) | 443 | 367 |
806 | ||
Gas Utilities — 0.0% ^ | ||
Atmos Energy Corp. | ||
0.63%, 3/9/2023 | 85 | 84 |
2.85%, 2/15/2052 | 230 | 164 |
CenterPoint Energy Resources Corp. 1.75%, 10/1/2030 | 202 | 164 |
412 | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
Boston Scientific Corp. 4.55%, 3/1/2039 | 68 | 63 |
DH Europe Finance II SARL 3.25%, 11/15/2039 | 119 | 99 |
162 | ||
Health Care Providers & Services — 0.2% | ||
Banner Health 1.90%, 1/1/2031 | 288 | 240 |
Beth Israel Lahey Health, Inc. Series L, 3.08%, 7/1/2051 | 115 | 83 |
Bon Secours Mercy Health, Inc. Series 20-2, 3.21%, 6/1/2050 | 175 | 131 |
Children's Hospital of Philadelphia (The) Series 2020, 2.70%, 7/1/2050 | 215 | 152 |
CommonSpirit Health | ||
1.55%, 10/1/2025 | 75 | 69 |
2.78%, 10/1/2030 | 170 | 147 |
3.91%, 10/1/2050 | 75 | 60 |
Elevance Health, Inc. 2.25%, 5/15/2030 | 422 | 361 |
Hackensack Meridian Health, Inc. Series 2020, 2.68%, 9/1/2041 | 350 | 267 |
HCA, Inc. | ||
5.25%, 6/15/2026 | 968 | 963 |
3.50%, 7/15/2051 | 128 | 87 |
4.63%, 3/15/2052 (b) | 142 | 114 |
MedStar Health, Inc. Series 20A, 3.63%, 8/15/2049 | 150 | 124 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 69 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Health Care Providers & Services — continued | ||
MidMichigan Health Series 2020, 3.41%, 6/1/2050 | 45 | 36 |
MultiCare Health System 2.80%, 8/15/2050 | 132 | 96 |
PeaceHealth Obligated Group Series 2020, 3.22%, 11/15/2050 | 160 | 120 |
Piedmont Healthcare, Inc. 2.86%, 1/1/2052 | 215 | 155 |
Universal Health Services, Inc. 2.65%, 10/15/2030 (b) | 208 | 166 |
West Virginia United Health System Obligated Group Series 2020, 3.13%, 6/1/2050 | 340 | 248 |
3,619 | ||
Hotels, Restaurants & Leisure — 0.0% ^ | ||
Starbucks Corp. 3.35%, 3/12/2050 | 214 | 162 |
Household Durables — 0.0% ^ | ||
Lennar Corp. 4.50%, 4/30/2024 | 75 | 75 |
Independent Power and Renewable Electricity Producers — 0.1% | ||
Alexander Funding Trust 1.84%, 11/15/2023 (b) | 670 | 642 |
Constellation Energy Generation LLC | ||
3.25%, 6/1/2025 | 892 | 854 |
5.75%, 10/1/2041 | 205 | 199 |
Southern Power Co. 5.15%, 9/15/2041 | 230 | 216 |
1,911 | ||
Industrial Conglomerates — 0.0% ^ | ||
GE Capital International Funding Co. Unlimited Co. 4.42%, 11/15/2035 | 522 | 487 |
Insurance — 0.1% | ||
Athene Global Funding | ||
0.95%, 1/8/2024 (b) | 441 | 419 |
2.75%, 6/25/2024 (b) | 313 | 302 |
2.50%, 1/14/2025 (b) | 124 | 118 |
Berkshire Hathaway Finance Corp. 3.85%, 3/15/2052 | 180 | 154 |
Brown & Brown, Inc. 2.38%, 3/15/2031 | 422 | 334 |
Corebridge Financial, Inc. 3.85%, 4/5/2029 (b) | 115 | 106 |
Empower Finance 2020 LP (Canada) 3.08%, 9/17/2051 (b) | 316 | 226 |
New York Life Insurance Co. 3.75%, 5/15/2050 (b) | 438 | 358 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Insurance — continued | ||
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (b) | 190 | 168 |
Teachers Insurance & Annuity Association of America 3.30%, 5/15/2050 (b) | 429 | 327 |
2,512 | ||
Internet & Direct Marketing Retail — 0.0% ^ | ||
Amazon.com, Inc. 3.95%, 4/13/2052 | 355 | 328 |
IT Services — 0.0% ^ | ||
CGI, Inc. (Canada) 1.45%, 9/14/2026 | 204 | 180 |
Global Payments, Inc. 3.20%, 8/15/2029 | 367 | 321 |
501 | ||
Machinery — 0.0% ^ | ||
Otis Worldwide Corp. 3.11%, 2/15/2040 | 294 | 228 |
Media — 0.1% | ||
Charter Communications Operating LLC | ||
2.80%, 4/1/2031 | 152 | 122 |
3.50%, 3/1/2042 | 160 | 111 |
3.70%, 4/1/2051 | 467 | 316 |
Comcast Corp. | ||
3.25%, 11/1/2039 | 380 | 312 |
2.80%, 1/15/2051 | 270 | 191 |
Discovery Communications LLC 3.63%, 5/15/2030 | 164 | 146 |
1,198 | ||
Metals & Mining — 0.0% ^ | ||
Anglo American Capital plc (South Africa) 3.63%, 9/11/2024 (b) | 295 | 289 |
Glencore Funding LLC (Australia) 2.50%, 9/1/2030 (b) | 346 | 282 |
Steel Dynamics, Inc. 1.65%, 10/15/2027 | 275 | 236 |
807 | ||
Multiline Retail — 0.0% ^ | ||
Nordstrom, Inc. 4.25%, 8/1/2031 | 272 | 206 |
Multi-Utilities — 0.1% | ||
Berkshire Hathaway Energy Co. 2.85%, 5/15/2051 | 204 | 145 |
CenterPoint Energy, Inc. 1.45%, 6/1/2026 | 211 | 190 |
Consumers Energy Co. 3.25%, 8/15/2046 | 102 | 82 |
Puget Energy, Inc. 2.38%, 6/15/2028 | 258 | 226 |
San Diego Gas & Electric Co. 2.95%, 8/15/2051 | 350 | 258 |
70 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Multi-Utilities — continued | ||
Southern Co. Gas Capital Corp. Series 21A, 3.15%, 9/30/2051 | 160 | 113 |
WEC Energy Group, Inc. 1.38%, 10/15/2027 | 236 | 204 |
1,218 | ||
Oil, Gas & Consumable Fuels — 0.3% | ||
Boardwalk Pipelines LP 4.45%, 7/15/2027 | 185 | 179 |
BP Capital Markets America, Inc. | ||
3.63%, 4/6/2030 | 279 | 264 |
2.77%, 11/10/2050 | 208 | 144 |
3.00%, 3/17/2052 | 75 | 54 |
Cheniere Corpus Christi Holdings LLC 5.88%, 3/31/2025 | 375 | 384 |
Coterra Energy, Inc. 3.90%, 5/15/2027 (b) | 140 | 134 |
Diamondback Energy, Inc. 3.25%, 12/1/2026 | 346 | 338 |
Energy Transfer LP | ||
3.90%, 5/15/2024 (d) | 535 | 531 |
3.90%, 7/15/2026 | 303 | 291 |
4.40%, 3/15/2027 | 445 | 431 |
5.00%, 5/15/2044 (d) | 525 | 438 |
Enterprise Products Operating LLC 4.45%, 2/15/2043 | 317 | 276 |
Exxon Mobil Corp. 3.00%, 8/16/2039 | 643 | 525 |
Flex Intermediate Holdco LLC | ||
3.36%, 6/30/2031 (b) | 180 | 147 |
4.32%, 12/30/2039 (b) | 130 | 101 |
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates) 2.94%, 9/30/2040 (b) | 197 | 160 |
Gray Oak Pipeline LLC | ||
2.60%, 10/15/2025 (b) | 500 | 467 |
3.45%, 10/15/2027 (b) | 306 | 280 |
HF Sinclair Corp. | ||
2.63%, 10/1/2023 (b) | 202 | 196 |
5.88%, 4/1/2026 (b) | 109 | 110 |
Lundin Energy Finance BV (Netherlands) 2.00%, 7/15/2026 (b) | 200 | 179 |
MPLX LP 4.50%, 4/15/2038 | 226 | 198 |
NGPL PipeCo LLC 3.25%, 7/15/2031 (b) | 195 | 162 |
Phillips 66 Co. 3.55%, 10/1/2026 (b) | 214 | 208 |
Sabine Pass Liquefaction LLC 5.63%, 3/1/2025 | 438 | 447 |
Targa Resources Corp. 4.20%, 2/1/2033 | 90 | 81 |
TotalEnergies Capital International SA (France) 2.99%, 6/29/2041 | 429 | 338 |
7,063 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Personal Products — 0.0% ^ | ||
GSK Consumer Healthcare Capital US LLC 4.00%, 3/24/2052 (b) | 350 | 300 |
Pharmaceuticals — 0.1% | ||
AstraZeneca plc (United Kingdom) 6.45%, 9/15/2037 | 50 | 60 |
Bristol-Myers Squibb Co. | ||
4.13%, 6/15/2039 | 265 | 253 |
2.35%, 11/13/2040 | 457 | 338 |
Merck & Co., Inc. 2.35%, 6/24/2040 | 312 | 234 |
Royalty Pharma plc 2.15%, 9/2/2031 | 31 | 24 |
Takeda Pharmaceutical Co. Ltd. (Japan) 3.03%, 7/9/2040 | 1,065 | 820 |
Utah Acquisition Sub, Inc. 3.95%, 6/15/2026 | 227 | 214 |
Viatris, Inc. | ||
3.85%, 6/22/2040 | 252 | 179 |
4.00%, 6/22/2050 | 181 | 121 |
2,243 | ||
Road & Rail — 0.1% | ||
CSX Corp. 3.80%, 11/1/2046 | 219 | 186 |
Kansas City Southern 4.70%, 5/1/2048 | 178 | 168 |
Norfolk Southern Corp. 3.05%, 5/15/2050 | 215 | 157 |
Triton Container International Ltd. (Bermuda) 2.05%, 4/15/2026 (b) | 700 | 619 |
Union Pacific Corp. 3.55%, 8/15/2039 | 297 | 256 |
1,386 | ||
Semiconductors & Semiconductor Equipment — 0.1% | ||
Analog Devices, Inc. 2.80%, 10/1/2041 | 224 | 176 |
Broadcom, Inc. | ||
1.95%, 2/15/2028 (b) | 470 | 400 |
3.19%, 11/15/2036 (b) | 69 | 52 |
KLA Corp. 3.30%, 3/1/2050 | 370 | 293 |
Microchip Technology, Inc. | ||
0.97%, 2/15/2024 | 235 | 223 |
0.98%, 9/1/2024 | 287 | 268 |
NXP BV (China) 3.25%, 5/11/2041 | 340 | 256 |
TSMC Global Ltd. (Taiwan) 1.38%, 9/28/2030 (b) | 350 | 280 |
Xilinx, Inc. 2.38%, 6/1/2030 | 610 | 538 |
2,486 | ||
Software — 0.1% | ||
Oracle Corp. 3.80%, 11/15/2037 | 540 | 420 |
Roper Technologies, Inc. 1.75%, 2/15/2031 | 218 | 170 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 71 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Software — continued | ||
VMware, Inc. | ||
1.40%, 8/15/2026 | 394 | 349 |
4.70%, 5/15/2030 | 364 | 351 |
1,290 | ||
Specialty Retail — 0.0% ^ | ||
Lowe's Cos., Inc. | ||
1.70%, 10/15/2030 | 235 | 188 |
3.70%, 4/15/2046 | 438 | 351 |
Tractor Supply Co. 1.75%, 11/1/2030 | 436 | 343 |
882 | ||
Technology Hardware, Storage & Peripherals — 0.1% | ||
Apple, Inc. | ||
3.45%, 2/9/2045 | 400 | 348 |
2.70%, 8/5/2051 | 315 | 235 |
Dell International LLC 6.20%, 7/15/2030 | 850 | 884 |
1,467 | ||
Thrifts & Mortgage Finance — 0.0% ^ | ||
BPCE SA (France) (SOFR + 1.52%), 1.65%, 10/6/2026 (b) (c) | 864 | 773 |
Tobacco — 0.1% | ||
Altria Group, Inc. 2.45%, 2/4/2032 | 340 | 256 |
BAT Capital Corp. (United Kingdom) | ||
2.26%, 3/25/2028 | 416 | 348 |
4.39%, 8/15/2037 | 255 | 202 |
3.73%, 9/25/2040 | 346 | 243 |
1,049 | ||
Trading Companies & Distributors — 0.1% | ||
Air Lease Corp. | ||
3.38%, 7/1/2025 | 390 | 367 |
2.88%, 1/15/2026 | 235 | 216 |
1.88%, 8/15/2026 | 675 | 583 |
1,166 | ||
Wireless Telecommunication Services — 0.0% ^ | ||
America Movil SAB de CV (Mexico) 2.88%, 5/7/2030 | 220 | 197 |
Rogers Communications, Inc. (Canada) 4.55%, 3/15/2052 (b) | 155 | 136 |
333 | ||
Total Corporate Bonds (Cost $119,406) | 100,967 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
U.S. Treasury Obligations — 3.8% | ||
U.S. Treasury Bonds | ||
1.13%, 5/15/2040 | 11,579 | 8,060 |
1.13%, 8/15/2040 | 9,253 | 6,392 |
1.88%, 2/15/2041 | 2,964 | 2,324 |
2.25%, 5/15/2041 | 341 | 285 |
1.75%, 8/15/2041 | 485 | 369 |
2.00%, 11/15/2041 | 225 | 179 |
2.25%, 8/15/2046 | 930 | 750 |
1.25%, 5/15/2050 | 966 | 615 |
1.38%, 8/15/2050 | 12,405 | 8,165 |
1.63%, 11/15/2050 | 2,118 | 1,490 |
1.88%, 2/15/2051 | 3,711 | 2,783 |
2.38%, 5/15/2051 | 70 | 59 |
U.S. Treasury Notes | ||
0.13%, 1/31/2023 | 6,966 | 6,868 |
0.13%, 2/15/2024 | 1,164 | 1,112 |
1.75%, 7/31/2024 | 7,180 | 7,000 |
0.38%, 11/30/2025 | 4,423 | 4,040 |
1.88%, 2/28/2027 | 4,873 | 4,625 |
3.25%, 6/30/2027 | 3,075 | 3,105 |
1.25%, 4/30/2028 | 3,385 | 3,053 |
1.25%, 5/31/2028 | 3,218 | 2,899 |
1.00%, 7/31/2028 | 2,205 | 1,950 |
1.88%, 2/28/2029 | 1,703 | 1,583 |
2.88%, 4/30/2029 | 3,688 | 3,645 |
1.50%, 2/15/2030 | 3,165 | 2,843 |
0.63%, 8/15/2030 | 1,960 | 1,625 |
0.88%, 11/15/2030 | 1,100 | 929 |
1.13%, 2/15/2031 | 2,604 | 2,238 |
1.63%, 5/15/2031 | 1,050 | 938 |
1.88%, 2/15/2032 | 1,535 | 1,391 |
U.S. Treasury STRIPS Bonds 1.04%, 8/15/2026 (e) | 2,540 | 2,243 |
Total U.S. Treasury Obligations (Cost $95,415) | 83,558 | |
Asset-Backed Securities — 3.4% | ||
ACC Auto Trust | ||
Series 2021-A, Class A, 1.08%, 4/15/2027 (b) | 353 | 347 |
Series 2021-A, Class B, 1.79%, 4/15/2027 (b) | 865 | 827 |
ACC Trust Series 2021-1, Class B, 1.43%, 7/22/2024 (b) | 685 | 679 |
Accelerated LLC Series 2021-1H, Class B, 1.90%, 10/20/2040 ‡ (b) | 457 | 418 |
72 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Affirm Asset Securitization Trust Series 2021-A, Class A, 0.88%, 8/15/2025 (b) | 640 | 632 |
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2, 1.94%, 8/15/2046 (b) | 815 | 720 |
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA, 3.20%, 6/15/2028 | 634 | 579 |
Series 2016-3, Class AA, 3.00%, 10/15/2028 | 836 | 757 |
Series 2021-1, Class B, 3.95%, 7/11/2030 | 903 | 753 |
Series 2019-1, Class AA, 3.15%, 2/15/2032 | 1,053 | 931 |
American Credit Acceptance Receivables Trust Series 2021-1, Class B, 0.61%, 3/13/2025 (b) | 133 | 133 |
AmeriCredit Automobile Receivables Trust | ||
Series 2020-3, Class B, 0.76%, 12/18/2025 | 710 | 684 |
Series 2020-3, Class C, 1.06%, 8/18/2026 | 315 | 300 |
AMSR Trust | ||
Series 2020-SFR2, Class E1, 4.03%, 7/17/2037 ‡ (b) | 420 | 403 |
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 ‡ (b) | 215 | 196 |
Series 2020-SFR4, Class D, 2.01%, 11/17/2037 ‡ (b) | 725 | 663 |
Series 2020-SFR4, Class E2, 2.46%, 11/17/2037 ‡ (b) | 390 | 356 |
Series 2021-SFR2, Class E2, 2.58%, 8/17/2038 ‡ (b) | 330 | 288 |
Aqua Finance Trust Series 2020-AA, Class C, 3.97%, 7/17/2046 ‡ (b) | 290 | 273 |
Arivo Acceptance Auto Loan Receivables Trust Series 2021-1A, Class A, 1.19%, 1/15/2027 (b) | 125 | 121 |
Business Jet Securities LLC | ||
Series 2020-1A, Class A, 2.98%, 11/15/2035 (b) | 992 | 910 |
Series 2021-1A, Class A, 2.16%, 4/15/2036 (b) | 697 | 630 |
Series 2021-1A, Class B, 2.92%, 4/15/2036 ‡ (b) | 978 | 874 |
Series 2022-1A, Class A, 4.46%, 6/15/2037 (b) | 662 | 638 |
BXG Receivables Note Trust Series 2020-A, Class A, 1.55%, 2/28/2036 (b) | 363 | 336 |
CarMax Auto Owner Trust Series 2020-4, Class C, 1.30%, 8/17/2026 | 290 | 271 |
Carvana Auto Receivables Trust Series 2020-P1, Class C, 1.32%, 11/9/2026 | 405 | 369 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Continental Finance Credit Card ABS Master Trust Series 2020-1A, Class A, 2.24%, 12/15/2028 (b) | 190 | 179 |
CPS Auto Receivables Trust | ||
Series 2021-A, Class B, 0.61%, 2/18/2025 (b) | 128 | 128 |
Series 2021-B, Class C, 1.23%, 3/15/2027 (b) | 675 | 648 |
Credit Acceptance Auto Loan Trust Series 2020-2A, Class C, 2.73%, 11/15/2029 (b) | 750 | 724 |
Credito Real USA Auto Receivables Trust Series 2021-1A, Class A, 1.35%, 2/16/2027 (b) | 208 | 203 |
Crossroads Asset Trust Series 2021-A, Class A2, 0.82%, 3/20/2024 (b) | 98 | 97 |
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (b) | 480 | 434 |
Delta Air Lines Pass-Through Trust | ||
Series 2015-1, Class B, 4.25%, 7/30/2023 | 178 | 174 |
Series 2020-1, Class A, 2.50%, 6/10/2028 | 505 | 442 |
Diamond Resorts Owner Trust | ||
Series 2021-1A, Class A, 1.51%, 11/21/2033 (b) | 146 | 137 |
Series 2021-1A, Class C, 2.70%, 11/21/2033 ‡ (b) | 444 | 417 |
DT Auto Owner Trust | ||
Series 2021-1A, Class C, 0.84%, 10/15/2026 (b) | 330 | 315 |
Series 2021-2A, Class C, 1.10%, 2/16/2027 (b) | 215 | 204 |
Series 2022-2A, Class D, 5.46%, 3/15/2028 (b) | 385 | 375 |
Elara HGV Timeshare Issuer LLC | ||
Series 2021-A, Class B, 1.74%, 8/27/2035 ‡ (b) | 464 | 427 |
Series 2021-A, Class C, 2.09%, 8/27/2035 ‡ (b) | 209 | 191 |
Exeter Automobile Receivables Trust Series 2021-2A, Class C, 0.98%, 6/15/2026 | 760 | 731 |
FHF Trust | ||
Series 2021-2A, Class A, 0.83%, 12/15/2026 (b) | 933 | 894 |
Series 2021-1A, Class A, 1.27%, 3/15/2027 (b) | 749 | 719 |
First Investors Auto Owner Trust Series 2021-1A, Class B, 0.89%, 3/15/2027 (b) | 350 | 339 |
FirstKey Homes Trust | ||
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 ‡ (b) | 1,145 | 988 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 73 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Series 2022-SFR1, Class E1, 5.00%, 5/17/2039 ‡ (b) | 395 | 367 |
Flagship Credit Auto Trust | ||
Series 2021-1, Class B, 0.68%, 2/16/2027 (b) | 460 | 445 |
Series 2020-4, Class C, 1.28%, 2/16/2027 (b) | 585 | 562 |
FMC GMSR Issuer Trust Series 2021-GT2, Class A, 3.85%, 10/25/2026 (b) (f) | 720 | 643 |
FREED ABS Trust Series 2021-2, Class B, 1.03%, 6/19/2028 ‡ (b) | 765 | 756 |
Genesis Sales Finance Master Trust Series 2020-AA, Class A, 1.65%, 9/22/2025 (b) | 670 | 659 |
GLS Auto Receivables Issuer Trust | ||
Series 2020-4A, Class B, 0.87%, 12/16/2024 (b) | 153 | 153 |
Series 2021-2A, Class B, 0.77%, 9/15/2025 (b) | 320 | 312 |
Home Partners of America Trust | ||
Series 2021-2, Class C, 2.40%, 12/17/2026 ‡ (b) | 1,109 | 992 |
Series 2021-3, Class D, 3.00%, 1/17/2041 ‡ (b) | 658 | 585 |
JetBlue Pass-Through Trust Series 2020-1, Class B, 7.75%, 11/15/2028 | 380 | 389 |
Lendbuzz Securitization Trust Series 2021-1A, Class A, 1.46%, 6/15/2026 (b) | 855 | 830 |
Lendingpoint Asset Securitization Trust | ||
Series 2021-A, Class A, 1.00%, 12/15/2028 (b) | 470 | 466 |
Series 2021-A, Class B, 1.46%, 12/15/2028 ‡ (b) | 535 | 518 |
Series 2021-B, Class A, 1.11%, 2/15/2029 (b) | 722 | 709 |
Series 2021-B, Class B, 1.68%, 2/15/2029 ‡ (b) | 570 | 537 |
LendingPoint Asset Securitization Trust Series 2020-REV1, Class A, 2.73%, 10/15/2028 (b) | 1,264 | 1,241 |
LL ABS Trust Series 2021-1A, Class A, 1.07%, 5/15/2029 (b) | 350 | 338 |
Mariner Finance Issuance Trust | ||
Series 2019-AA, Class A, 2.96%, 7/20/2032 (b) | 1,055 | 1,047 |
Series 2021-AA, Class A, 1.86%, 3/20/2036 (b) | 1,065 | 942 |
Marlette Funding Trust | ||
Series 2021-1A, Class A, 0.60%, 6/16/2031 (b) | 44 | 44 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2021-1A, Class B, 1.00%, 6/16/2031 ‡ (b) | 833 | 816 |
Mercury Financial Credit Card Master Trust | ||
Series 2021-1A, Class A, 1.54%, 3/20/2026 (b) | 1,135 | 1,080 |
Series 2021-1A, Class B, 2.33%, 3/20/2026 (b) | 285 | 270 |
Mission Lane Credit Card Master Trust Series 2021-A, Class A, 1.59%, 9/15/2026 (b) | 935 | 900 |
MVW LLC | ||
Series 2021-2A, Class C, 2.23%, 5/20/2039 ‡ (b) | 1,194 | 1,089 |
Series 2021-1WA, Class B, 1.44%, 1/22/2041 ‡ (b) | 180 | 163 |
NMEF Funding LLC Series 2021-A, Class B, 1.85%, 12/15/2027 ‡ (b) | 650 | 612 |
NRZ Excess Spread-Collateralized Notes | ||
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (b) | 605 | 574 |
Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (b) | 486 | 446 |
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (b) | 1,345 | 1,229 |
Octane Receivables Trust Series 2021-1A, Class A, 0.93%, 3/22/2027 (b) | 489 | 476 |
OneMain Financial Issuance Trust Series 2020-2A, Class D, 3.45%, 9/14/2035 ‡ (b) | 260 | 231 |
Oportun Funding XIV LLC Series 2021-A, Class A, 1.21%, 3/8/2028 (b) | 593 | 555 |
Oportun Issuance Trust Series 2021-B, Class A, 1.47%, 5/8/2031 (b) | 2,075 | 1,924 |
Orange Lake Timeshare Trust Series 2016-A, Class A, 2.61%, 3/8/2029 (b) | 135 | 131 |
Pagaya AI Debt Selection Trust | ||
Series 2021-1, Class A, 1.18%, 11/15/2027 (b) | 752 | 736 |
Series 2021-HG1, Class A, 1.22%, 1/16/2029 (b) | 1,249 | 1,188 |
Series 2021-3, Class A, 1.15%, 5/15/2029 (b) | 1,259 | 1,224 |
Prestige Auto Receivables Trust Series 2020-1A, Class C, 1.31%, 11/16/2026 (b) | 740 | 733 |
PRET LLC Series 2021-RN4, Class A1, 2.49%, 10/25/2051 (b) (f) | 1,210 | 1,152 |
Pretium Mortgage Credit Partners I LLC | ||
Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 ‡ (b) (d) | 1,415 | 1,339 |
74 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
Series 2021-NPL4, Class A1, 2.36%, 10/27/2060 ‡ (b) (d) | 1,095 | 1,028 |
Progress Residential Trust | ||
Series 2020-SFR3, Class A, 1.29%, 10/17/2027 (b) | 514 | 471 |
Series 2020-SFR3, Class B, 1.50%, 10/17/2027 ‡ (b) | 380 | 343 |
Series 2020-SFR1, Class E, 3.03%, 4/17/2037 ‡ (b) | 810 | 752 |
Series 2020-SFR2, Class D, 3.87%, 6/17/2037 (b) | 320 | 310 |
Series 2021-SFR2, Class D, 2.20%, 4/19/2038 ‡ (b) | 2,223 | 1,983 |
Regional Management Issuance Trust Series 2021-1, Class A, 1.68%, 3/17/2031 (b) | 910 | 839 |
Republic Finance Issuance Trust | ||
Series 2020-A, Class A, 2.47%, 11/20/2030 (b) | 600 | 577 |
Series 2021-A, Class A, 2.30%, 12/22/2031 (b) | 1,640 | 1,521 |
Santander Consumer Auto Receivables Trust Series 2021-AA, Class B, 0.71%, 8/17/2026 (b) | 470 | 438 |
Sierra Timeshare Receivables Funding LLC | ||
Series 2021-1A, Class B, 1.34%, 11/20/2037 ‡ (b) | 302 | 281 |
Series 2021-2A, Class B, 1.80%, 9/20/2038 ‡ (b) | 374 | 353 |
Theorem Funding Trust Series 2021-1A, Class A, 1.21%, 12/15/2027 (b) | 657 | 643 |
Tricolor Auto Securitization Trust | ||
Series 2021-1A, Class B, 1.00%, 6/17/2024 (b) | 270 | 266 |
Series 2021-1A, Class C, 1.33%, 9/16/2024 (b) | 310 | 304 |
United Airlines Pass-Through Trust | ||
Series 2016-2, Class B, 3.65%, 10/7/2025 | 181 | 165 |
Series 2019-2, Class B, 3.50%, 5/1/2028 | 426 | 369 |
Series 2016-2, Class A, 3.10%, 10/7/2028 | 198 | 169 |
Series 2018-1, Class A, 3.70%, 3/1/2030 | 517 | 457 |
Upstart Pass-Through Trust Series 2021-ST2, Class A, 2.50%, 4/20/2027 (b) | 180 | 172 |
Upstart Securitization Trust | ||
Series 2020-3, Class A, 1.70%, 11/20/2030 (b) | 202 | 201 |
Series 2021-1, Class A, 0.87%, 3/20/2031 (b) | 89 | 88 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2021-4, Class A, 0.84%, 9/20/2031 (b) | 203 | 196 |
US Auto Funding Series 2021-1A, Class B, 1.49%, 3/17/2025 (b) | 500 | 482 |
VCAT LLC | ||
Series 2021-NPL1, Class A1, 2.29%, 12/26/2050 ‡ (b) (d) | 325 | 313 |
Series 2021-NPL2, Class A1, 2.12%, 3/27/2051 (b) (d) | 438 | 417 |
Veros Auto Receivables Trust Series 2021-1, Class A, 0.92%, 10/15/2026 (b) | 317 | 311 |
VOLT XCII LLC Series 2021-NPL1, Class A1, 1.89%, 2/27/2051 (b) (d) | 479 | 455 |
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 ‡ (b) (d) | 1,856 | 1,758 |
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 ‡ (b) (d) | 1,582 | 1,503 |
VOLT XCIX LLC Series 2021-NPL8, Class A1, 2.12%, 4/25/2051 ‡ (b) (d) | 1,070 | 1,010 |
VOLT XCV LLC Series 2021-NPL4, Class A1, 2.24%, 3/27/2051 ‡ (b) (d) | 707 | 674 |
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (b) (d) | 1,201 | 1,147 |
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 ‡ (b) (d) | 1,480 | 1,407 |
Westgate Resorts LLC Series 2022-1A, Class B, 2.29%, 8/20/2036 ‡ (b) | 471 | 450 |
Westlake Automobile Receivables Trust Series 2020-3A, Class C, 1.24%, 11/17/2025 (b) | 260 | 254 |
Total Asset-Backed Securities (Cost $79,130) | 74,364 | |
Mortgage-Backed Securities — 3.3% | ||
FHLMC UMBS, 30 Year | ||
Pool # ZL3032 3.50%, 5/1/2042 | 522 | 511 |
Pool # QA6772 3.50%, 1/1/2050 | 291 | 282 |
Pool # QB4026 2.50%, 10/1/2050 | 1,972 | 1,794 |
Pool # QB4045 2.50%, 10/1/2050 | 1,188 | 1,070 |
Pool # QB4484 2.50%, 10/1/2050 | 719 | 654 |
Pool # QB4542 2.50%, 10/1/2050 | 641 | 584 |
Pool # RA4224 3.00%, 11/1/2050 | 264 | 247 |
Pool # QB8503 2.50%, 2/1/2051 | 753 | 678 |
Pool # QC4789 3.00%, 7/1/2051 | 631 | 589 |
Pool # QD5778 3.00%, 1/1/2052 | 712 | 666 |
Pool # QD4686 4.00%, 1/1/2052 | 442 | 437 |
Pool # QE1637 4.00%, 5/1/2052 | 339 | 340 |
Pool # QE1832 4.50%, 5/1/2052 | 394 | 405 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 75 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Mortgage-Backed Securities — continued | ||
FNMA UMBS, 30 Year | ||
Pool # CA2826 5.50%, 12/1/2048 | 1,219 | 1,282 |
Pool # FM3118 3.00%, 5/1/2050 | 484 | 454 |
Pool # BQ2894 3.00%, 9/1/2050 | 1,049 | 985 |
Pool # BQ3996 2.50%, 10/1/2050 | 835 | 756 |
Pool # BQ5243 3.50%, 10/1/2050 | 355 | 345 |
Pool # CA7398 3.50%, 10/1/2050 | 1,247 | 1,211 |
Pool # BR4318 3.00%, 1/1/2051 | 224 | 209 |
Pool # CA8637 4.00%, 1/1/2051 | 1,719 | 1,721 |
Pool # CB2637 2.50%, 1/1/2052 | 951 | 856 |
Pool # BU3079 3.00%, 1/1/2052 | 536 | 501 |
Pool # BV0273 3.00%, 1/1/2052 | 1,350 | 1,260 |
Pool # CB2670 3.00%, 1/1/2052 | 852 | 795 |
Pool # BV4831 3.00%, 2/1/2052 | 432 | 403 |
Pool # BV0295 3.50%, 2/1/2052 | 1,224 | 1,200 |
Pool # BV3950 4.00%, 2/1/2052 | 542 | 540 |
Pool # BV6743 4.50%, 5/1/2052 | 449 | 459 |
Pool # BV9515 6.00%, 6/1/2052 | 421 | 446 |
FNMA, Other | ||
Pool # AM3010 5.07%, 3/1/2028 | 527 | 568 |
Pool # BL8639 1.09%, 4/1/2028 | 689 | 610 |
Pool # AM5319 4.34%, 1/1/2029 | 477 | 496 |
Pool # BS0448 1.27%, 12/1/2029 | 997 | 859 |
Pool # BL9748 1.60%, 12/1/2029 | 398 | 350 |
Pool # AN7593 2.99%, 12/1/2029 | 293 | 280 |
Pool # AN8285 3.11%, 3/1/2030 | 299 | 290 |
Pool # AM8544 3.08%, 4/1/2030 | 134 | 129 |
Pool # BL9251 1.45%, 10/1/2030 | 775 | 666 |
Pool # BS5985 IO, 3.99%, 11/1/2030 | 540 | 549 |
Pool # AM4789 4.18%, 11/1/2030 | 252 | 257 |
Pool # BL9891 1.37%, 12/1/2030 | 542 | 463 |
Pool # BS5580 3.68%, 1/1/2032 | 1,050 | 1,056 |
Pool # AN6149 3.14%, 7/1/2032 | 910 | 874 |
Pool # BM3226 3.44%, 10/1/2032 (f) | 1,301 | 1,271 |
Pool # AN7923 3.33%, 1/1/2033 | 565 | 547 |
Pool # BS5357 3.41%, 3/1/2033 | 770 | 750 |
Pool # AN9067 3.51%, 5/1/2033 | 310 | 305 |
Pool # BS5511 3.45%, 8/1/2033 | 1,030 | 1,007 |
Pool # BS5127 3.15%, 9/1/2033 | 580 | 549 |
Pool # BL1012 4.03%, 12/1/2033 | 300 | 306 |
Pool # BL0900 4.08%, 2/1/2034 | 170 | 175 |
Pool # BL7124 1.93%, 6/1/2035 | 710 | 599 |
Pool # AN4430 3.61%, 1/1/2037 | 630 | 620 |
Pool # BF0230 5.50%, 1/1/2058 | 1,585 | 1,740 |
Pool # BF0497 3.00%, 7/1/2060 | 736 | 693 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
FNMA/FHLMC UMBS, Single Family, 30 Year | ||
TBA, 3.50%, 7/25/2052 (g) | 325 | 313 |
TBA, 4.00%, 7/25/2052 (g) | 275 | 271 |
TBA, 4.50%, 7/25/2052 (g) | 75 | 75 |
GNMA II, 30 Year | ||
Pool # BY3432 3.50%, 9/20/2050 | 964 | 938 |
Pool # BR3929 3.50%, 10/20/2050 | 470 | 458 |
Pool # BW1726 3.50%, 10/20/2050 | 676 | 657 |
Pool # BS8546 2.50%, 12/20/2050 | 1,658 | 1,492 |
Pool # BR3928 3.00%, 12/20/2050 | 745 | 715 |
Pool # BU7538 3.00%, 12/20/2050 | 500 | 480 |
Pool # 785294 3.50%, 1/20/2051 | 1,647 | 1,635 |
Pool # CA8452 3.00%, 2/20/2051 | 2,171 | 2,075 |
Pool # CA9005 3.00%, 2/20/2051 | 432 | 423 |
Pool # CB1543 3.00%, 2/20/2051 | 1,559 | 1,472 |
Pool # CA3588 3.50%, 2/20/2051 | 1,472 | 1,433 |
Pool # CB1536 3.50%, 2/20/2051 | 1,638 | 1,598 |
Pool # CB1542 3.00%, 3/20/2051 | 1,091 | 1,030 |
Pool # CB4433 3.00%, 3/20/2051 | 1,865 | 1,744 |
Pool # CC0070 3.00%, 3/20/2051 | 279 | 269 |
Pool # CC8726 3.00%, 3/20/2051 | 356 | 336 |
Pool # CC8738 3.00%, 3/20/2051 | 446 | 421 |
Pool # CC8723 3.50%, 3/20/2051 | 2,043 | 1,988 |
Pool # CC0088 4.00%, 3/20/2051 | 81 | 81 |
Pool # CC0092 4.00%, 3/20/2051 | 192 | 193 |
Pool # CC8727 3.00%, 4/20/2051 | 533 | 503 |
Pool # CC8739 3.00%, 4/20/2051 | 1,469 | 1,386 |
Pool # CC8740 3.00%, 4/20/2051 | 1,306 | 1,234 |
Pool # CC8751 3.00%, 4/20/2051 | 274 | 258 |
Pool # CA3563 3.50%, 7/20/2051 | 1,026 | 1,010 |
Pool # CE2586 3.50%, 7/20/2051 | 1,491 | 1,452 |
Pool # MA7534 2.50%, 8/20/2051 | 4,140 | 3,796 |
Pool # CK1527 3.50%, 12/20/2051 | 1,069 | 1,046 |
Pool # CJ8184 3.50%, 1/20/2052 | 1,146 | 1,115 |
Pool # CK2660 3.00%, 2/20/2052 | 746 | 689 |
Pool # CK2716 3.50%, 2/20/2052 | 869 | 852 |
Pool # CN3557 4.50%, 5/20/2052 | 520 | 539 |
GNMA II, Other Pool # 785183 2.94%, 10/20/2070 (f) | 734 | 691 |
Total Mortgage-Backed Securities (Cost $80,613) | 72,357 | |
Collateralized Mortgage Obligations — 0.9% | ||
Ajax Mortgage Loan Trust Series 2021-B, Class A, 2.24%, 6/25/2066 ‡ (b) (d) | 864 | 804 |
Bayview Finance LLC, 0.00%, 7/12/2033 ‡ | 958 | 954 |
76 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Collateralized Mortgage Obligations — continued | ||
Cascade MH Asset Trust Series 2021-MH1, Class A1, 1.75%, 2/25/2046 (b) | 1,113 | 996 |
CFMT LLC | ||
Series 2020-HB4, Class A, 0.95%, 12/26/2030 (b) (f) | 194 | 191 |
Series 2021-HB5, Class A, 0.80%, 2/25/2031 (b) (f) | 1,166 | 1,144 |
CSMC Trust Series 2021-RPL1, Class A1, 1.67%, 9/27/2060 (b) (f) | 958 | 907 |
FNMA Trust, Whole Loan Series 2002-W8, Class A1, 6.50%, 6/25/2042 | 429 | 468 |
FNMA, Grantor Trust, Whole Loan Series 2001-T12, Class A1, 6.50%, 8/25/2041 | 209 | 221 |
FNMA, REMIC | ||
Series 2018-72, Class VB, 3.50%, 10/25/2031 | 355 | 355 |
Series 2019-7, Class CA, 3.50%, 11/25/2057 | 1,830 | 1,829 |
FNMA, REMIC Trust, Whole Loan Series 2002-W3, Class A4, 6.50%, 11/25/2041 | 852 | 910 |
GNMA | ||
Series 2015-H11, Class FC, 1.35%, 5/20/2065 (f) | 522 | 517 |
Series 2021-H14, Class YD, 8.30%, 6/20/2071 (f) | 977 | 1,093 |
Legacy Mortgage Asset Trust Series 2021-GS1, Class A1, 1.89%, 10/25/2066 (b) (d) | 422 | 409 |
LHOME Mortgage Trust Series 2021-RTL1, Class A1, 2.09%, 9/25/2026 (b) (f) | 330 | 316 |
PRPM LLC | ||
Series 2021-2, Class A1, 2.12%, 3/25/2026 (b) (f) | 786 | 749 |
Series 2021-10, Class A1, 2.49%, 10/25/2026 (b) (d) | 341 | 322 |
Seasoned Credit Risk Transfer Trust | ||
Series 2018-1, Class M60C, 3.50%, 5/25/2057 | 548 | 539 |
Series 2019-2, Class M55D, 4.00%, 8/25/2058 ‡ | 1,015 | 1,016 |
Series 2019-3, Class M55D, 4.00%, 10/25/2058 ‡ | 900 | 901 |
Series 2020-3, Class M5TW, 3.00%, 5/25/2060 ‡ | 1,246 | 1,202 |
Series 2020-3, Class TTW, 3.00%, 5/25/2060 ‡ | 1,251 | 1,219 |
Toorak Mortgage Corp. Ltd. Series 2020-1, Class A1, 2.73%, 3/25/2023 (b) (d) | 232 | 230 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Towd Point Mortgage Trust Series 2021-R1, Class A1, 2.92%, 11/30/2060 (b) (f) | 1,923 | 1,752 |
Total Collateralized Mortgage Obligations (Cost $20,315) | 19,044 | |
Commercial Mortgage-Backed Securities — 0.4% | ||
ACRE Commercial Mortgage Ltd. | ||
Series 2021-FL4, Class A, 2.44%, 12/18/2037 (b) (f) | 443 | 438 |
Series 2021-FL4, Class AS, 2.71%, 12/18/2037 (b) (f) | 510 | 500 |
BPR Trust Series 2021-KEN, Class A, 2.57%, 2/15/2029 (b) (f) | 475 | 468 |
FHLMC, Multi-Family Structured Credit Risk Series 2021-MN2, Class M1, 2.73%, 7/25/2041 (b) (f) | 868 | 784 |
FHLMC, Multi-Family Structured Pass-Through Certificates | ||
Series K-1511, Class A1, 3.28%, 10/25/2030 | 704 | 696 |
Series K-1510, Class A2, 3.72%, 1/25/2031 | 265 | 269 |
FNMA ACES | ||
Series 2022-M1S, Class A2, 2.08%, 4/25/2032 | 1,590 | 1,380 |
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033 | 227 | 218 |
Series 2021-M3, Class X1, IO, 2.09%, 11/25/2033 (f) | 1,448 | 165 |
FNMA, Other 3.08%, 1/1/2029 | 1,492 | 1,516 |
FREMF Mortgage Trust | ||
Series 2017-KGX1, Class BFX, 3.71%, 10/25/2027 (b) (f) | 570 | 527 |
Series 2015-K48, Class C, 3.77%, 8/25/2048 (b) (f) | 40 | 39 |
Series 2016-K56, Class B, 4.08%, 6/25/2049 (b) (f) | 415 | 406 |
Series 2016-K58, Class B, 3.87%, 9/25/2049 (b) (f) | 415 | 402 |
Series 2017-K728, Class C, 3.76%, 11/25/2050 (b) (f) | 215 | 210 |
KKR Industrial Portfolio Trust Series 2021-KDIP, Class B, 2.12%, 12/15/2037 ‡ (b) (f) | 394 | 376 |
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (b) | 925 | 785 |
Total Commercial Mortgage-Backed Securities (Cost $9,788) | 9,179 | |
Foreign Government Securities — 0.1% | ||
Kingdom of Saudi Arabia (Saudi Arabia) 2.25%, 2/2/2033 (b) | 200 | 166 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 77 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Foreign Government Securities — continued | ||
Republic of Panama (Panama) 3.16%, 1/23/2030 | 300 | 267 |
Republic of Peru (Peru) 2.78%, 12/1/2060 | 147 | 91 |
United Mexican States (Mexico) | ||
2.66%, 5/24/2031 | 905 | 745 |
3.50%, 2/12/2034 | 730 | 604 |
Total Foreign Government Securities (Cost $2,302) | 1,873 | |
SHARES (000) | ||
Short Term Investments — 3.6% | ||
Investment Companies — 3.6% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (h) (Cost $78,148) | 78,148 | 78,148 |
Total Investments — 99.1% (Cost $2,185,808) | 2,172,941 | |
Other Assets Less Liabilities — 0.9% | 20,290 | |
NET ASSETS — 100.0% | 2,193,231 |
Percentages indicated are based on net assets. |
Abbreviations | |
ABS | Asset-Backed Securities |
ACES | Alternative Credit Enhancement Securities |
CSMC | Credit Suisse Mortgage Trust |
ETF | Exchange Traded Fund |
FHLMC | Federal Home Loan Mortgage Corp. |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
ICE | Intercontinental Exchange |
IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. |
LIBOR | London Interbank Offered Rate |
REIT | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. |
TBA | To Be Announced; Security is subject to delayed delivery. |
UMBS | Uniform Mortgage-Backed Securities |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(c) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022. | |
(d) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of June 30, 2022. | |
(e) | The rate shown is the effective yield as of June 30, 2022. | |
(f) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022. | |
(g) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(h) | The rate shown is the current yield as of June 30, 2022. |
78 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 169 | 09/16/2022 | USD | 32,076 | (885) |
Short Contracts | |||||
DJ US Real Estate Index | (300) | 09/16/2022 | USD | (10,722) | (382) |
MSCI EAFE E-Mini Index | (123) | 09/16/2022 | USD | (11,433) | 13 |
MSCI Emerging Markets E-Mini Index | (225) | 09/16/2022 | USD | (11,292) | (105) |
(474) | |||||
(1,359) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 79 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 57.7% | ||
Fixed Income — 14.5% | ||
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 32,672 | 243,406 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 2,523 | 14,663 |
JPMorgan High Yield Fund Class R6 Shares (a) | 6,657 | 40,939 |
Total Fixed Income | 299,008 | |
International Equity — 8.9% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 11,710 | 183,956 |
U.S. Equity — 34.3% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 12,438 | 706,869 |
Total Investment Companies (Cost $1,155,531) | 1,189,833 | |
Exchange-Traded Funds — 33.3% | ||
Alternative Assets — 3.0% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 693 | 60,874 |
Fixed Income — 4.6% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 331 | 14,454 |
JPMorgan U.S. Aggregate Bond ETF (a) | 1,695 | 81,298 |
Total Fixed Income | 95,752 | |
International Equity — 17.7% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 7,709 | 364,580 |
U.S. Equity — 8.0% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 1,281 | 89,372 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 1,506 | 75,817 |
Total U.S. Equity | 165,189 | |
Total Exchange-Traded Funds (Cost $720,350) | 686,395 | |
PRINCIPAL AMOUNT ($000) | ||
U.S. Treasury Obligations — 1.2% | ||
U.S. Treasury Bonds | ||
1.13%, 5/15/2040 | 696 | 485 |
1.13%, 8/15/2040 | 1,166 | 806 |
1.38%, 11/15/2040 | 1,482 | 1,067 |
1.88%, 2/15/2041 | 1,252 | 982 |
2.25%, 5/15/2041 | 61 | 51 |
3.13%, 2/15/2043 | 680 | 646 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
2.25%, 8/15/2046 | 195 | 157 |
1.25%, 5/15/2050 | 93 | 59 |
1.38%, 8/15/2050 | 1,759 | 1,158 |
1.63%, 11/15/2050 | 2,174 | 1,529 |
1.88%, 2/15/2051 | 191 | 143 |
1.88%, 11/15/2051 | 360 | 270 |
2.25%, 2/15/2052 | 230 | 189 |
U.S. Treasury Notes | ||
0.13%, 1/31/2023 (b) | 5,626 | 5,546 |
0.13%, 1/15/2024 | 346 | 331 |
0.13%, 2/15/2024 | 2,390 | 2,284 |
2.88%, 6/15/2025 | 290 | 289 |
0.50%, 2/28/2026 | 1,453 | 1,324 |
3.25%, 6/30/2027 | 1,405 | 1,419 |
0.63%, 12/31/2027 | 1,010 | 885 |
1.50%, 2/15/2030 | 1,094 | 983 |
0.88%, 11/15/2030 | 1,610 | 1,359 |
1.13%, 2/15/2031 | 1,375 | 1,182 |
1.63%, 5/15/2031 | 160 | 143 |
1.38%, 11/15/2031 | 19 | 16 |
1.88%, 2/15/2032 | 1,080 | 978 |
U.S. Treasury STRIPS Bonds 1.14%, 5/15/2027 (c) | 525 | 452 |
Total U.S. Treasury Obligations (Cost $27,579) | 24,733 | |
Corporate Bonds — 1.1% | ||
Aerospace & Defense — 0.1% | ||
Boeing Co. (The) 2.70%, 2/1/2027 | 594 | 529 |
Northrop Grumman Corp. | ||
5.15%, 5/1/2040 | 37 | 37 |
3.85%, 4/15/2045 | 40 | 34 |
Raytheon Technologies Corp. | ||
2.25%, 7/1/2030 | 80 | 69 |
2.82%, 9/1/2051 | 70 | 50 |
719 | ||
Airlines — 0.0% ^ | ||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 | 147 | 125 |
Automobiles — 0.0% ^ | ||
Hyundai Capital America | ||
3.00%, 2/10/2027 (d) | 200 | 184 |
2.38%, 10/15/2027 (d) | 198 | 174 |
358 |
80 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Banks — 0.2% | ||
AIB Group plc (Ireland) 4.75%, 10/12/2023 (d) | 400 | 400 |
Banco Santander SA (Spain) 2.75%, 12/3/2030 | 200 | 159 |
Bank of America Corp. | ||
(SOFR + 1.33%), 3.38%, 4/2/2026 | 160 | 155 |
(SOFR + 1.01%), 1.20%, 10/24/2026 (e) | 106 | 95 |
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (e) | 278 | 265 |
(SOFR + 1.58%), 4.38%, 4/27/2028 (e) | 65 | 64 |
(SOFR + 1.93%), 2.68%, 6/19/2041 (e) | 224 | 161 |
BNP Paribas SA (France) (SOFR + 1.61%), 1.90%, 9/30/2028 (d) (e) | 200 | 171 |
Citigroup, Inc. | ||
(ICE LIBOR USD 3 Month + 1.15%), 3.52%, 10/27/2028 (e) | 100 | 94 |
(ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (e) | 88 | 76 |
Credit Agricole SA (France) | ||
4.38%, 3/17/2025 (d) | 200 | 197 |
(SOFR + 0.89%), 1.25%, 1/26/2027 (d) (e) | 250 | 220 |
HSBC Holdings plc (United Kingdom) | ||
(SOFR + 1.29%), 1.59%, 5/24/2027 (e) | 200 | 176 |
(SOFR + 1.73%), 2.01%, 9/22/2028 (e) | 400 | 342 |
Lloyds Banking Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.63%, 5/11/2027 (e) | 200 | 178 |
Mitsubishi UFJ Financial Group, Inc. (Japan) 3.74%, 3/7/2029 | 184 | 174 |
NatWest Group plc (United Kingdom) (ICE LIBOR USD 3 Month + 1.87%), 4.44%, 5/8/2030 (e) | 200 | 188 |
Santander UK Group Holdings plc (United Kingdom) (SOFR + 1.22%), 2.47%, 1/11/2028 (e) | 200 | 177 |
Societe Generale SA (France) 4.25%, 4/14/2025 (d) | 400 | 392 |
Standard Chartered plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.17%), 1.32%, 10/14/2023 (d) (e) | 250 | 248 |
Wells Fargo & Co. | ||
4.30%, 7/22/2027 | 344 | 340 |
(SOFR + 2.53%), 3.07%, 4/30/2041 (e) | 18 | 14 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (e) | 120 | 111 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Banks — continued | ||
Westpac Banking Corp. (Australia) | ||
2.96%, 11/16/2040 | 44 | 32 |
3.13%, 11/18/2041 | 45 | 33 |
4,462 | ||
Beverages — 0.0% ^ | ||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 3.75%, 7/15/2042 | 340 | 275 |
Keurig Dr Pepper, Inc. 3.80%, 5/1/2050 | 58 | 46 |
321 | ||
Biotechnology — 0.1% | ||
AbbVie, Inc. | ||
3.20%, 11/21/2029 | 198 | 182 |
4.05%, 11/21/2039 | 300 | 267 |
Amgen, Inc. 3.15%, 2/21/2040 | 96 | 76 |
Biogen, Inc. 2.25%, 5/1/2030 | 27 | 22 |
Gilead Sciences, Inc. 2.60%, 10/1/2040 | 52 | 38 |
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030 | 88 | 71 |
656 | ||
Building Products — 0.0% ^ | ||
Masco Corp. 2.00%, 10/1/2030 | 38 | 30 |
Capital Markets — 0.1% | ||
Brookfield Finance, Inc. (Canada) 3.50%, 3/30/2051 | 62 | 45 |
Credit Suisse Group AG (Switzerland) 4.28%, 1/9/2028 (d) | 500 | 467 |
Deutsche Bank AG (Germany) | ||
(SOFR + 1.87%), 2.13%, 11/24/2026 (e) | 300 | 266 |
(SOFR + 1.32%), 2.55%, 1/7/2028 (e) | 150 | 130 |
Goldman Sachs Group, Inc. (The) | ||
(SOFR + 0.57%), 0.67%, 3/8/2024 | 145 | 142 |
4.25%, 10/21/2025 | 290 | 288 |
(SOFR + 0.80%), 1.43%, 3/9/2027 (e) | 75 | 67 |
Macquarie Group Ltd. (Australia) (SOFR + 1.53%), 2.87%, 1/14/2033 (d) (e) | 150 | 122 |
Morgan Stanley | ||
5.00%, 11/24/2025 | 209 | 212 |
3.13%, 7/27/2026 | 191 | 182 |
(SOFR + 1.49%), 3.22%, 4/22/2042 (e) | 40 | 31 |
S&P Global, Inc. | ||
2.70%, 3/1/2029 (d) | 69 | 63 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 81 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Capital Markets — continued | ||
4.25%, 5/1/2029 (d) | 70 | 69 |
UBS Group AG (Switzerland) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (d) (e) | 200 | 159 |
2,243 | ||
Chemicals — 0.0% ^ | ||
DuPont de Nemours, Inc. 5.32%, 11/15/2038 | 70 | 69 |
International Flavors & Fragrances, Inc. 3.47%, 12/1/2050 (d) | 31 | 23 |
LYB International Finance III LLC 1.25%, 10/1/2025 | 30 | 27 |
RPM International, Inc. 2.95%, 1/15/2032 | 61 | 51 |
170 | ||
Construction & Engineering — 0.0% ^ | ||
Quanta Services, Inc. 2.35%, 1/15/2032 | 75 | 58 |
Consumer Finance — 0.1% | ||
AerCap Ireland Capital DAC (Ireland) 4.63%, 10/15/2027 | 300 | 283 |
Avolon Holdings Funding Ltd. (Ireland) | ||
5.50%, 1/15/2026 (d) | 259 | 251 |
2.53%, 11/18/2027 (d) | 369 | 301 |
Capital One Financial Corp. | ||
3.80%, 1/31/2028 | 102 | 96 |
(SOFR + 1.27%), 2.62%, 11/2/2032 (e) | 45 | 36 |
General Motors Financial Co., Inc. 3.80%, 4/7/2025 | 105 | 102 |
1,069 | ||
Containers & Packaging — 0.0% ^ | ||
Graphic Packaging International LLC 1.51%, 4/15/2026 (d) | 49 | 44 |
Diversified Consumer Services — 0.0% ^ | ||
University of Miami Series 2022, 4.06%, 4/1/2052 | 20 | 18 |
Diversified Financial Services — 0.0% ^ | ||
Hutchison Whampoa International 14 Ltd. (United Kingdom) 3.63%, 10/31/2024 (d) | 250 | 250 |
Shell International Finance BV (Netherlands) 3.13%, 11/7/2049 | 52 | 40 |
290 | ||
Diversified Telecommunication Services — 0.0% ^ | ||
AT&T, Inc. | ||
2.30%, 6/1/2027 | 128 | 117 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Diversified Telecommunication Services — continued | ||
2.75%, 6/1/2031 | 168 | 145 |
3.50%, 6/1/2041 | 128 | 102 |
3.55%, 9/15/2055 | 76 | 57 |
Verizon Communications, Inc. | ||
2.10%, 3/22/2028 | 30 | 27 |
3.15%, 3/22/2030 | 124 | 113 |
2.36%, 3/15/2032 | 20 | 16 |
2.65%, 11/20/2040 | 44 | 32 |
609 | ||
Electric Utilities — 0.1% | ||
American Electric Power Co., Inc. 2.03%, 3/15/2024 | 200 | 194 |
Duke Energy Progress LLC 2.90%, 8/15/2051 | 40 | 29 |
Duquesne Light Holdings, Inc. 2.78%, 1/7/2032 (d) | 20 | 16 |
Edison International 5.75%, 6/15/2027 | 76 | 77 |
Emera US Finance LP (Canada) 4.75%, 6/15/2046 | 52 | 46 |
Entergy Louisiana LLC 4.00%, 3/15/2033 | 40 | 38 |
Evergy, Inc. 2.90%, 9/15/2029 | 96 | 85 |
Fells Point Funding Trust 3.05%, 1/31/2027 (d) | 115 | 106 |
FirstEnergy Transmission LLC 4.55%, 4/1/2049 (d) | 44 | 35 |
Fortis, Inc. (Canada) 3.06%, 10/4/2026 | 70 | 66 |
Indiana Michigan Power Co. 3.25%, 5/1/2051 | 55 | 42 |
ITC Holdings Corp. 2.95%, 5/14/2030 (d) | 30 | 26 |
Jersey Central Power & Light Co. 4.30%, 1/15/2026 (d) | 44 | 43 |
Massachusetts Electric Co. 4.00%, 8/15/2046 (d) | 13 | 11 |
New England Power Co. (United Kingdom) 2.81%, 10/6/2050 (d) | 62 | 42 |
NRG Energy, Inc. 2.45%, 12/2/2027 (d) | 118 | 101 |
OGE Energy Corp. 0.70%, 5/26/2023 | 30 | 29 |
Oklahoma Gas and Electric Co. 0.55%, 5/26/2023 | 35 | 34 |
Pacific Gas and Electric Co. | ||
1.37%, 3/10/2023 | 115 | 113 |
1.70%, 11/15/2023 | 35 | 34 |
3.25%, 2/16/2024 | 100 | 97 |
2.95%, 3/1/2026 | 51 | 46 |
3.75%, 8/15/2042 (f) | 62 | 42 |
PG&E Wildfire Recovery Funding LLC Series A-2, 4.26%, 6/1/2036 | 30 | 30 |
82 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
Southern California Edison Co. | ||
Series 20C, 1.20%, 2/1/2026 | 40 | 36 |
Series C, 4.13%, 3/1/2048 | 30 | 25 |
Union Electric Co. 3.90%, 4/1/2052 | 43 | 38 |
Vistra Operations Co. LLC 4.88%, 5/13/2024 (d) | 96 | 96 |
1,577 | ||
Energy Equipment & Services — 0.0% ^ | ||
Schlumberger Holdings Corp. 4.00%, 12/21/2025 (d) | 66 | 66 |
Entertainment — 0.0% ^ | ||
Activision Blizzard, Inc. 1.35%, 9/15/2030 | 48 | 38 |
Take-Two Interactive Software, Inc. 3.70%, 4/14/2027 | 79 | 77 |
Walt Disney Co. (The) | ||
2.65%, 1/13/2031 | 90 | 79 |
3.50%, 5/13/2040 | 84 | 72 |
266 | ||
Equity Real Estate Investment Trusts (REITs) — 0.1% | ||
American Campus Communities Operating Partnership LP 2.25%, 1/15/2029 | 30 | 28 |
American Tower Corp. 1.88%, 10/15/2030 | 256 | 199 |
Brixmor Operating Partnership LP | ||
2.25%, 4/1/2028 | 40 | 34 |
2.50%, 8/16/2031 | 20 | 16 |
Corporate Office Properties LP 2.75%, 4/15/2031 | 54 | 44 |
Crown Castle International Corp. 3.10%, 11/15/2029 | 96 | 85 |
CubeSmart LP 2.00%, 2/15/2031 | 102 | 81 |
Digital Realty Trust LP 3.70%, 8/15/2027 | 90 | 86 |
Equinix, Inc. | ||
2.90%, 11/18/2026 | 70 | 65 |
2.00%, 5/15/2028 | 89 | 76 |
Federal Realty OP LP 1.25%, 2/15/2026 | 70 | 63 |
Healthcare Trust of America Holdings LP 2.00%, 3/15/2031 | 88 | 68 |
Healthpeak Properties, Inc. 2.13%, 12/1/2028 | 67 | 58 |
Life Storage LP 2.40%, 10/15/2031 | 60 | 48 |
Office Properties Income Trust | ||
2.65%, 6/15/2026 | 60 | 51 |
2.40%, 2/1/2027 | 75 | 61 |
Physicians Realty LP 2.63%, 11/1/2031 | 25 | 20 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Equity Real Estate Investment Trusts (REITs) — continued | ||
Public Storage 1.95%, 11/9/2028 | 32 | 28 |
Sabra Health Care LP 3.20%, 12/1/2031 | 45 | 36 |
Safehold Operating Partnership LP 2.85%, 1/15/2032 | 80 | 64 |
Scentre Group Trust 1 (Australia) 3.63%, 1/28/2026 (d) | 158 | 152 |
UDR, Inc. 2.10%, 8/1/2032 | 88 | 68 |
WP Carey, Inc. | ||
4.25%, 10/1/2026 | 26 | 26 |
2.40%, 2/1/2031 | 36 | 29 |
2.45%, 2/1/2032 | 40 | 32 |
1,518 | ||
Food & Staples Retailing — 0.0% ^ | ||
7-Eleven, Inc. 0.63%, 2/10/2023 (d) | 120 | 118 |
Alimentation Couche-Tard, Inc. (Canada) | ||
3.44%, 5/13/2041 (d) | 60 | 45 |
3.63%, 5/13/2051 (d) | 65 | 47 |
210 | ||
Food Products — 0.0% ^ | ||
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 25 | 21 |
Kraft Heinz Foods Co. | ||
4.63%, 10/1/2039 | 55 | 48 |
4.38%, 6/1/2046 | 29 | 24 |
Smithfield Foods, Inc. 3.00%, 10/15/2030 (d) | 118 | 98 |
191 | ||
Gas Utilities — 0.0% ^ | ||
Atmos Energy Corp. | ||
0.63%, 3/9/2023 | 20 | 20 |
2.85%, 2/15/2052 | 45 | 32 |
CenterPoint Energy Resources Corp. 1.75%, 10/1/2030 | 40 | 32 |
84 | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
Boston Scientific Corp. 4.55%, 3/1/2039 | 18 | 17 |
DH Europe Finance II SARL 3.25%, 11/15/2039 | 30 | 25 |
42 | ||
Health Care Providers & Services — 0.1% | ||
Banner Health 1.90%, 1/1/2031 | 100 | 83 |
Beth Israel Lahey Health, Inc. Series L, 3.08%, 7/1/2051 | 25 | 18 |
Children's Hospital of Philadelphia (The) Series 2020, 2.70%, 7/1/2050 | 70 | 49 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 83 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Health Care Providers & Services — continued | ||
CommonSpirit Health 2.78%, 10/1/2030 | 74 | 64 |
CVS Health Corp. 2.70%, 8/21/2040 | 92 | 66 |
Elevance Health, Inc. 2.25%, 5/15/2030 | 100 | 86 |
HCA, Inc. | ||
5.25%, 6/15/2026 | 224 | 223 |
3.50%, 7/15/2051 | 23 | 16 |
4.63%, 3/15/2052 (d) | 27 | 22 |
Piedmont Healthcare, Inc. 2.86%, 1/1/2052 | 45 | 32 |
Universal Health Services, Inc. 2.65%, 10/15/2030 (d) | 39 | 31 |
690 | ||
Hotels, Restaurants & Leisure — 0.0% ^ | ||
Starbucks Corp. 3.35%, 3/12/2050 | 52 | 39 |
Household Durables — 0.0% ^ | ||
MDC Holdings, Inc. 3.97%, 8/6/2061 | 55 | 32 |
Independent Power and Renewable Electricity Producers — 0.0% ^ | ||
Alexander Funding Trust 1.84%, 11/15/2023 (d) | 198 | 189 |
Constellation Energy Generation LLC | ||
3.25%, 6/1/2025 | 194 | 186 |
5.75%, 10/1/2041 | 40 | 39 |
Southern Power Co. 5.15%, 9/15/2041 | 74 | 70 |
484 | ||
Insurance — 0.0% ^ | ||
Athene Global Funding 2.75%, 6/25/2024 (d) | 92 | 89 |
Berkshire Hathaway Finance Corp. 3.85%, 3/15/2052 | 40 | 34 |
Brown & Brown, Inc. 2.38%, 3/15/2031 | 92 | 73 |
Corebridge Financial, Inc. | ||
3.65%, 4/5/2027 (d) | 35 | 33 |
3.85%, 4/5/2029 (d) | 30 | 28 |
F&G Global Funding 1.75%, 6/30/2026 (d) | 40 | 35 |
New York Life Insurance Co. 3.75%, 5/15/2050 (d) | 106 | 87 |
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (d) | 40 | 35 |
Teachers Insurance & Annuity Association of America 3.30%, 5/15/2050 (d) | 96 | 73 |
487 | ||
Internet & Direct Marketing Retail — 0.0% ^ | ||
Amazon.com, Inc. 3.95%, 4/13/2052 | 80 | 74 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
IT Services — 0.0% ^ | ||
CGI, Inc. (Canada) | ||
1.45%, 9/14/2026 | 42 | 37 |
2.30%, 9/14/2031 | 75 | 60 |
Global Payments, Inc. 3.20%, 8/15/2029 | 77 | 68 |
165 | ||
Machinery — 0.0% ^ | ||
Otis Worldwide Corp. 3.11%, 2/15/2040 | 66 | 51 |
Media — 0.0% ^ | ||
Charter Communications Operating LLC | ||
2.80%, 4/1/2031 | 22 | 18 |
3.50%, 3/1/2042 | 35 | 24 |
3.70%, 4/1/2051 | 96 | 65 |
Comcast Corp. 3.25%, 11/1/2039 | 84 | 69 |
Discovery Communications LLC 3.63%, 5/15/2030 | 41 | 36 |
212 | ||
Metals & Mining — 0.0% ^ | ||
Anglo American Capital plc (South Africa) 3.63%, 9/11/2024 (d) | 400 | 392 |
Glencore Funding LLC (Australia) 2.50%, 9/1/2030 (d) | 96 | 78 |
Steel Dynamics, Inc. 1.65%, 10/15/2027 | 60 | 52 |
522 | ||
Multiline Retail — 0.0% ^ | ||
Nordstrom, Inc. 4.25%, 8/1/2031 | 80 | 61 |
Multi-Utilities — 0.0% ^ | ||
Berkshire Hathaway Energy Co. 2.85%, 5/15/2051 | 44 | 31 |
CenterPoint Energy, Inc. 1.45%, 6/1/2026 | 44 | 40 |
Consumers Energy Co. 3.25%, 8/15/2046 | 30 | 24 |
Puget Energy, Inc. 2.38%, 6/15/2028 | 54 | 47 |
San Diego Gas & Electric Co. 2.95%, 8/15/2051 | 70 | 52 |
WEC Energy Group, Inc. 1.38%, 10/15/2027 | 44 | 38 |
232 | ||
Oil, Gas & Consumable Fuels — 0.1% | ||
BP Capital Markets America, Inc. | ||
3.63%, 4/6/2030 | 73 | 69 |
2.77%, 11/10/2050 | 44 | 30 |
Cheniere Corpus Christi Holdings LLC 5.88%, 3/31/2025 | 75 | 77 |
Diamondback Energy, Inc. 3.25%, 12/1/2026 | 96 | 94 |
84 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
Energy Transfer LP | ||
3.90%, 5/15/2024 (f) | 181 | 180 |
3.90%, 7/15/2026 | 146 | 140 |
4.40%, 3/15/2027 | 90 | 87 |
5.00%, 5/15/2044 (f) | 105 | 88 |
Exxon Mobil Corp. 3.00%, 8/16/2039 | 146 | 119 |
Flex Intermediate Holdco LLC | ||
3.36%, 6/30/2031 (d) | 40 | 33 |
4.32%, 12/30/2039 (d) | 30 | 23 |
Gray Oak Pipeline LLC 2.60%, 10/15/2025 (d) | 198 | 185 |
HF Sinclair Corp. | ||
2.63%, 10/1/2023 (d) | 22 | 21 |
5.88%, 4/1/2026 (d) | 90 | 91 |
MPLX LP 4.50%, 4/15/2038 | 52 | 45 |
NGPL PipeCo LLC 3.25%, 7/15/2031 (d) | 40 | 33 |
Phillips 66 Co. 3.55%, 10/1/2026 (d) | 44 | 43 |
Plains All American Pipeline LP 4.65%, 10/15/2025 | 132 | 131 |
Sabine Pass Liquefaction LLC 5.63%, 3/1/2025 | 102 | 104 |
Targa Resources Corp. 4.20%, 2/1/2033 | 20 | 18 |
TotalEnergies Capital International SA (France) 2.99%, 6/29/2041 | 96 | 76 |
TransCanada PipeLines Ltd. (Canada) 4.10%, 4/15/2030 | 45 | 43 |
1,730 | ||
Pharmaceuticals — 0.1% | ||
Bristol-Myers Squibb Co. 2.35%, 11/13/2040 | 260 | 192 |
Royalty Pharma plc 2.15%, 9/2/2031 | 7 | 5 |
Takeda Pharmaceutical Co. Ltd. (Japan) 3.03%, 7/9/2040 | 400 | 308 |
Utah Acquisition Sub, Inc. 3.95%, 6/15/2026 | 60 | 57 |
Viatris, Inc. 3.85%, 6/22/2040 | 96 | 68 |
630 | ||
Road & Rail — 0.0% ^ | ||
Kansas City Southern 4.70%, 5/1/2048 | 37 | 35 |
Triton Container International Ltd. (Bermuda) 2.05%, 4/15/2026 (d) | 150 | 133 |
Union Pacific Corp. 3.55%, 8/15/2039 | 70 | 60 |
228 | ||
Semiconductors & Semiconductor Equipment — 0.0% ^ | ||
Analog Devices, Inc. 2.80%, 10/1/2041 | 46 | 36 |
Broadcom, Inc. 3.19%, 11/15/2036 (d) | 18 | 14 |
KLA Corp. 3.30%, 3/1/2050 | 50 | 40 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Semiconductors & Semiconductor Equipment — continued | ||
Microchip Technology, Inc. 0.98%, 9/1/2024 | 60 | 56 |
NXP BV (China) | ||
2.50%, 5/11/2031 | 70 | 57 |
3.25%, 5/11/2041 | 75 | 56 |
QUALCOMM, Inc. 4.50%, 5/20/2052 | 30 | 30 |
Xilinx, Inc. 2.38%, 6/1/2030 | 127 | 112 |
401 | ||
Software — 0.0% ^ | ||
Oracle Corp. 3.80%, 11/15/2037 | 124 | 96 |
Roper Technologies, Inc. 1.75%, 2/15/2031 | 47 | 37 |
VMware, Inc. | ||
1.40%, 8/15/2026 | 83 | 73 |
4.70%, 5/15/2030 | 84 | 81 |
Workday, Inc. 3.50%, 4/1/2027 | 53 | 51 |
338 | ||
Specialty Retail — 0.0% ^ | ||
Lowe's Cos., Inc. | ||
1.70%, 10/15/2030 | 40 | 32 |
3.70%, 4/15/2046 | 102 | 82 |
Tractor Supply Co. 1.75%, 11/1/2030 | 100 | 78 |
192 | ||
Technology Hardware, Storage & Peripherals — 0.0% ^ | ||
Apple, Inc. | ||
3.45%, 2/9/2045 | 100 | 87 |
2.70%, 8/5/2051 | 50 | 37 |
Dell International LLC 6.20%, 7/15/2030 | 246 | 256 |
380 | ||
Thrifts & Mortgage Finance — 0.0% ^ | ||
BPCE SA (France) (SOFR + 1.52%), 1.65%, 10/6/2026 (d) (e) | 250 | 224 |
Tobacco — 0.0% ^ | ||
Altria Group, Inc. 2.45%, 2/4/2032 | 70 | 53 |
BAT Capital Corp. (United Kingdom) | ||
2.26%, 3/25/2028 | 92 | 77 |
4.39%, 8/15/2037 | 55 | 44 |
3.73%, 9/25/2040 | 96 | 67 |
241 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 85 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Corporate Bonds — continued | ||
Trading Companies & Distributors — 0.0% ^ | ||
Air Lease Corp. | ||
2.88%, 1/15/2026 | 50 | 46 |
1.88%, 8/15/2026 | 210 | 181 |
227 | ||
Wireless Telecommunication Services — 0.0% ^ | ||
Rogers Communications, Inc. (Canada) 4.55%, 3/15/2052 (d) | 35 | 31 |
Total Corporate Bonds (Cost $27,012) | 22,797 | |
Asset-Backed Securities — 0.8% | ||
ACC Auto Trust | ||
Series 2021-A, Class A, 1.08%, 4/15/2027 (d) | 74 | 73 |
Series 2021-A, Class B, 1.79%, 4/15/2027 (d) | 185 | 177 |
ACC Trust Series 2021-1, Class B, 1.43%, 7/22/2024 (d) | 145 | 144 |
Accelerated LLC Series 2021-1H, Class B, 1.90%, 10/20/2040 ‡ (d) | 95 | 86 |
Affirm Asset Securitization Trust Series 2021-A, Class A, 0.88%, 8/15/2025 (d) | 220 | 217 |
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2, 1.94%, 8/15/2046 (d) | 170 | 150 |
American Airlines Pass-Through Trust | ||
Series 2016-2, Class AA, 3.20%, 6/15/2028 | 128 | 117 |
Series 2016-3, Class AA, 3.00%, 10/15/2028 | 169 | 153 |
Series 2021-1, Class B, 3.95%, 7/11/2030 | 184 | 154 |
Series 2019-1, Class AA, 3.15%, 2/15/2032 | 134 | 118 |
AMSR Trust | ||
Series 2020-SFR2, Class E1, 4.03%, 7/17/2037 ‡ (d) | 102 | 98 |
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 ‡ (d) | 100 | 91 |
Series 2020-SFR4, Class E2, 2.46%, 11/17/2037 ‡ (d) | 100 | 91 |
Series 2021-SFR2, Class E2, 2.58%, 8/17/2038 ‡ (d) | 100 | 87 |
Business Jet Securities LLC | ||
Series 2020-1A, Class A, 2.98%, 11/15/2035 (d) | 170 | 156 |
Series 2021-1A, Class A, 2.16%, 4/15/2036 (d) | 141 | 127 |
Series 2021-1A, Class B, 2.92%, 4/15/2036 ‡ (d) | 195 | 174 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Series 2022-1A, Class A, 4.46%, 6/15/2037 (d) | 151 | 146 |
CarNow Auto Receivables Trust Series 2021-1A, Class A, 0.97%, 10/15/2024 (d) | 48 | 48 |
CPS Auto Receivables Trust | ||
Series 2021-A, Class B, 0.61%, 2/18/2025 (d) | 65 | 65 |
Series 2021-A, Class C, 0.83%, 9/15/2026 (d) | 450 | 440 |
Series 2021-B, Class C, 1.23%, 3/15/2027 (d) | 140 | 134 |
Credito Real USA Auto Receivables Trust Series 2021-1A, Class A, 1.35%, 2/16/2027 (d) | 130 | 127 |
Crossroads Asset Trust | ||
Series 2021-A, Class A2, 0.82%, 3/20/2024 (d) | 65 | 64 |
Series 2021-A, Class B, 1.12%, 6/20/2025 ‡ (d) | 155 | 149 |
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (d) | 265 | 240 |
Diamond Resorts Owner Trust | ||
Series 2021-1A, Class A, 1.51%, 11/21/2033 (d) | 85 | 80 |
Series 2021-1A, Class C, 2.70%, 11/21/2033 ‡ (d) | 96 | 90 |
DT Auto Owner Trust | ||
Series 2021-2A, Class C, 1.10%, 2/16/2027 (d) | 270 | 256 |
Series 2022-2A, Class D, 5.46%, 3/15/2028 (d) | 90 | 88 |
Elara HGV Timeshare Issuer LLC Series 2021-A, Class B, 1.74%, 8/27/2035 ‡ (d) | 171 | 158 |
Exeter Automobile Receivables Trust | ||
Series 2021-1A, Class C, 0.74%, 1/15/2026 | 350 | 341 |
Series 2021-2A, Class C, 0.98%, 6/15/2026 | 140 | 135 |
FHF Trust Series 2021-1A, Class A, 1.27%, 3/15/2027 (d) | 245 | 236 |
FirstKey Homes Trust | ||
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 ‡ (d) | 260 | 224 |
Series 2022-SFR1, Class E1, 5.00%, 5/17/2039 ‡ (d) | 100 | 93 |
Flagship Credit Auto Trust Series 2021-1, Class B, 0.68%, 2/16/2027 (d) | 75 | 73 |
FMC GMSR Issuer Trust Series 2021-GT2, Class A, 3.85%, 10/25/2026 (d) (g) | 150 | 134 |
FREED ABS Trust Series 2021-2, Class B, 1.03%, 6/19/2028 ‡ (d) | 159 | 157 |
86 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
GLS Auto Receivables Issuer Trust Series 2021-2A, Class B, 0.77%, 9/15/2025 (d) | 180 | 176 |
Hilton Grand Vacations Trust Series 2017-AA, Class A, 2.66%, 12/26/2028 (d) | 16 | 16 |
Home Partners of America Trust | ||
Series 2021-2, Class C, 2.40%, 12/17/2026 ‡ (d) | 226 | 202 |
Series 2021-3, Class D, 3.00%, 1/17/2041 ‡ (d) | 149 | 132 |
JetBlue Pass-Through Trust Series 2020-1, Class B, 7.75%, 11/15/2028 | 78 | 79 |
Lendbuzz Securitization Trust Series 2021-1A, Class A, 1.46%, 6/15/2026 (d) | 177 | 172 |
Lendingpoint Asset Securitization Trust | ||
Series 2021-A, Class A, 1.00%, 12/15/2028 (d) | 98 | 97 |
Series 2021-A, Class B, 1.46%, 12/15/2028 ‡ (d) | 100 | 97 |
Series 2021-B, Class A, 1.11%, 2/15/2029 (d) | 148 | 145 |
Series 2021-B, Class B, 1.68%, 2/15/2029 ‡ (d) | 120 | 113 |
LL ABS Trust Series 2021-1A, Class A, 1.07%, 5/15/2029 (d) | 76 | 73 |
Mariner Finance Issuance Trust Series 2021-AA, Class A, 1.86%, 3/20/2036 (d) | 195 | 172 |
Marlette Funding Trust | ||
Series 2021-1A, Class A, 0.60%, 6/16/2031 (d) | 9 | 9 |
Series 2021-1A, Class B, 1.00%, 6/16/2031 ‡ (d) | 170 | 167 |
Mercury Financial Credit Card Master Trust | ||
Series 2021-1A, Class A, 1.54%, 3/20/2026 (d) | 235 | 224 |
Series 2021-1A, Class B, 2.33%, 3/20/2026 (d) | 245 | 232 |
Mission Lane Credit Card Master Trust Series 2021-A, Class A, 1.59%, 9/15/2026 (d) | 195 | 188 |
MVW LLC Series 2021-2A, Class C, 2.23%, 5/20/2039 ‡ (d) | 243 | 222 |
NMEF Funding LLC Series 2021-A, Class B, 1.85%, 12/15/2027 ‡ (d) | 299 | 282 |
NRZ Excess Spread-Collateralized Notes | ||
Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (d) | 247 | 227 |
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (d) | 282 | 258 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Octane Receivables Trust Series 2021-1A, Class A, 0.93%, 3/22/2027 (d) | 100 | 97 |
Oportun Funding XIV LLC | ||
Series 2021-A, Class A, 1.21%, 3/8/2028 (d) | 118 | 110 |
Series 2021-A, Class B, 1.76%, 3/8/2028 ‡ (d) | 370 | 348 |
Oportun Issuance Trust Series 2021-B, Class A, 1.47%, 5/8/2031 (d) | 425 | 394 |
Pagaya AI Debt Selection Trust | ||
Series 2021-1, Class A, 1.18%, 11/15/2027 (d) | 299 | 293 |
Series 2021-HG1, Class A, 1.22%, 1/16/2029 (d) | 262 | 249 |
Series 2021-3, Class A, 1.15%, 5/15/2029 (d) | 235 | 228 |
PRET LLC Series 2021-RN4, Class A1, 2.49%, 10/25/2051 (d) (g) | 82 | 78 |
Pretium Mortgage Credit Partners I LLC | ||
Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 ‡ (d) (f) | 288 | 273 |
Series 2021-NPL4, Class A1, 2.36%, 10/27/2060 ‡ (d) (f) | 226 | 212 |
Progress Residential Trust | ||
Series 2020-SFR1, Class E, 3.03%, 4/17/2037 ‡ (d) | 205 | 190 |
Series 2021-SFR2, Class D, 2.20%, 4/19/2038 ‡ (d) | 453 | 404 |
Regional Management Issuance Trust Series 2021-1, Class A, 1.68%, 3/17/2031 (d) | 185 | 171 |
Republic Finance Issuance Trust Series 2021-A, Class A, 2.30%, 12/22/2031 (d) | 334 | 310 |
Sierra Timeshare Receivables Funding LLC | ||
Series 2021-1A, Class B, 1.34%, 11/20/2037 ‡ (d) | 126 | 117 |
Series 2021-2A, Class B, 1.80%, 9/20/2038 ‡ (d) | 75 | 71 |
Theorem Funding Trust Series 2021-1A, Class A, 1.21%, 12/15/2027 (d) | 138 | 134 |
Tricolor Auto Securitization Trust | ||
Series 2021-1A, Class B, 1.00%, 6/17/2024 (d) | 180 | 177 |
Series 2021-1A, Class C, 1.33%, 9/16/2024 (d) | 180 | 176 |
United Airlines Pass-Through Trust | ||
Series 2019-2, Class B, 3.50%, 5/1/2028 | 74 | 64 |
Series 2016-2, Class A, 3.10%, 10/7/2028 | 38 | 33 |
Series 2018-1, Class A, 3.70%, 3/1/2030 | 104 | 92 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 87 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Asset-Backed Securities — continued | ||
United Auto Credit Securitization Trust Series 2021-1, Class C, 0.84%, 6/10/2026 (d) | 155 | 152 |
Upstart Securitization Trust Series 2021-1, Class A, 0.87%, 3/20/2031 (d) | 54 | 53 |
US Auto Funding Series 2021-1A, Class B, 1.49%, 3/17/2025 (d) | 105 | 101 |
VCAT LLC Series 2021-NPL2, Class A1, 2.12%, 3/27/2051 (d) (f) | 90 | 86 |
Veros Auto Receivables Trust Series 2021-1, Class A, 0.92%, 10/15/2026 (d) | 70 | 69 |
VOLT XCII LLC Series 2021-NPL1, Class A1, 1.89%, 2/27/2051 (d) (f) | 119 | 113 |
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 ‡ (d) (f) | 375 | 356 |
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 ‡ (d) (f) | 321 | 305 |
VOLT XCIX LLC Series 2021-NPL8, Class A1, 2.12%, 4/25/2051 ‡ (d) (f) | 253 | 239 |
VOLT XCV LLC Series 2021-NPL4, Class A1, 2.24%, 3/27/2051 ‡ (d) (f) | 207 | 198 |
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (d) (f) | 241 | 230 |
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 ‡ (d) (f) | 304 | 289 |
Total Asset-Backed Securities (Cost $16,340) | 15,386 | |
Mortgage-Backed Securities — 0.7% | ||
FHLMC UMBS, 30 Year | ||
Pool # ZL3032 3.50%, 5/1/2042 | 107 | 105 |
Pool # QA6772 3.50%, 1/1/2050 | 483 | 468 |
Pool # RA4224 3.00%, 11/1/2050 | 204 | 190 |
Pool # QB8503 2.50%, 2/1/2051 | 238 | 214 |
Pool # QC4789 3.00%, 7/1/2051 | 152 | 142 |
Pool # QE1637 4.00%, 5/1/2052 | 75 | 75 |
Pool # QE1832 4.50%, 5/1/2052 | 90 | 92 |
FNMA UMBS, 30 Year | ||
Pool # BO1362 4.00%, 6/1/2049 | 113 | 114 |
Pool # FM3118 3.00%, 5/1/2050 | 167 | 157 |
Pool # BR4318 3.00%, 1/1/2051 | 395 | 369 |
Pool # BQ8009 4.00%, 2/1/2051 | 541 | 541 |
Pool # BQ8010 4.00%, 2/1/2051 | 648 | 646 |
Pool # BU1805 2.50%, 12/1/2051 | 274 | 247 |
Pool # CB2637 2.50%, 1/1/2052 | 249 | 224 |
Pool # BU3079 3.00%, 1/1/2052 | 114 | 107 |
Pool # BV0273 3.00%, 1/1/2052 | 124 | 115 |
Pool # CB2670 3.00%, 1/1/2052 | 182 | 170 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Pool # BV4831 3.00%, 2/1/2052 | 94 | 88 |
Pool # BV0295 3.50%, 2/1/2052 | 266 | 261 |
Pool # BV6743 4.50%, 5/1/2052 | 105 | 107 |
Pool # BV9515 6.00%, 6/1/2052 | 95 | 101 |
FNMA, Other | ||
Pool # AM4660 3.77%, 12/1/2025 | 118 | 120 |
Pool # BL2588 2.97%, 8/1/2026 | 290 | 285 |
Pool # AM3010 5.07%, 3/1/2028 | 109 | 117 |
Pool # AM5319 4.34%, 1/1/2029 | 95 | 99 |
Pool # BS4290 1.95%, 10/1/2029 | 500 | 447 |
Pool # AM4789 4.18%, 11/1/2030 | 54 | 55 |
Pool # BS6024 IO, 3.96%, 2/1/2031 (h) | 210 | 213 |
Pool # BL3774 2.77%, 8/1/2031 | 100 | 94 |
Pool # BL3648 2.85%, 8/1/2031 | 100 | 95 |
Pool # BL3700 2.92%, 8/1/2031 | 100 | 95 |
Pool # BS5580 3.68%, 1/1/2032 | 230 | 231 |
Pool # BS5357 3.41%, 3/1/2033 | 169 | 165 |
Pool # AN9752 3.65%, 7/1/2033 | 185 | 184 |
Pool # BS5511 3.45%, 8/1/2033 | 225 | 220 |
Pool # BS5127 3.15%, 9/1/2033 | 130 | 123 |
Pool # BL7124 1.93%, 6/1/2035 | 163 | 138 |
Pool # BF0230 5.50%, 1/1/2058 | 274 | 301 |
Pool # BF0497 3.00%, 7/1/2060 | 154 | 145 |
FNMA/FHLMC UMBS, Single Family, 30 Year TBA, 4.50%, 7/25/2052 (h) | 295 | 296 |
GNMA II, 30 Year | ||
Pool # 783525 4.50%, 12/20/2031 | 27 | 27 |
Pool # 784602 4.00%, 5/20/2038 | 97 | 98 |
Pool # BS8546 2.50%, 12/20/2050 | 311 | 280 |
Pool # 785294 3.50%, 1/20/2051 | 329 | 326 |
Pool # CA8452 3.00%, 2/20/2051 | 442 | 422 |
Pool # CA9005 3.00%, 2/20/2051 | 399 | 390 |
Pool # CB1543 3.00%, 2/20/2051 | 307 | 290 |
Pool # CA3588 3.50%, 2/20/2051 | 278 | 270 |
Pool # CB1536 3.50%, 2/20/2051 | 695 | 678 |
Pool # CB1542 3.00%, 3/20/2051 | 331 | 313 |
Pool # CB4433 3.00%, 3/20/2051 | 571 | 534 |
Pool # CC0070 3.00%, 3/20/2051 | 53 | 51 |
Pool # CC8726 3.00%, 3/20/2051 | 68 | 64 |
Pool # CC8738 3.00%, 3/20/2051 | 83 | 78 |
Pool # CC8723 3.50%, 3/20/2051 | 733 | 714 |
Pool # CC0088 4.00%, 3/20/2051 | 17 | 17 |
Pool # CC0092 4.00%, 3/20/2051 | 32 | 32 |
Pool # CC8727 3.00%, 4/20/2051 | 102 | 96 |
Pool # CC8739 3.00%, 4/20/2051 | 300 | 284 |
88 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Mortgage-Backed Securities — continued | ||
Pool # CC8740 3.00%, 4/20/2051 | 269 | 254 |
Pool # CC8751 3.00%, 4/20/2051 | 58 | 55 |
Pool # CE9911 3.00%, 7/20/2051 | 162 | 153 |
Pool # CE9913 3.00%, 7/20/2051 | 87 | 83 |
Pool # CE9914 3.00%, 7/20/2051 | 88 | 83 |
Pool # CE9915 3.00%, 7/20/2051 | 177 | 169 |
Pool # CA3563 3.50%, 7/20/2051 | 304 | 300 |
Pool # CE2586 3.50%, 7/20/2051 | 324 | 315 |
Pool # CK1527 3.50%, 12/20/2051 | 213 | 208 |
Pool # CJ8184 3.50%, 1/20/2052 | 228 | 222 |
Pool # CK2716 3.50%, 2/20/2052 | 194 | 190 |
Pool # CN3557 4.50%, 5/20/2052 | 115 | 119 |
Total Mortgage-Backed Securities (Cost $16,621) | 15,071 | |
Collateralized Mortgage Obligations — 0.3% | ||
Ajax Mortgage Loan Trust Series 2021-B, Class A, 2.24%, 6/25/2066 ‡ (d) (f) | 174 | 162 |
Bayview Finance LLC, 0.00%, 7/12/2033 ‡ | 210 | 209 |
Cascade MH Asset Trust Series 2021-MH1, Class A1, 1.75%, 2/25/2046 (d) | 225 | 201 |
CFMT LLC Series 2021-HB5, Class A, 0.80%, 2/25/2031 (d) (g) | 367 | 360 |
CSMC Trust Series 2021-RPL1, Class A1, 1.67%, 9/27/2060 (d) (g) | 201 | 190 |
FNMA Trust, Whole Loan Series 2002-W8, Class A1, 6.50%, 6/25/2042 | 89 | 97 |
FNMA, Grantor Trust, Whole Loan | ||
Series 2001-T12, Class A1, 6.50%, 8/25/2041 | 178 | 188 |
Series 2002-T4, Class A1, 6.50%, 12/25/2041 | 20 | 22 |
FNMA, REMIC | ||
Series 2017-35, Class VA, 4.00%, 7/25/2028 | 141 | 144 |
Series 2018-72, Class VB, 3.50%, 10/25/2031 | 329 | 328 |
Series 2011-41, Class KA, 4.00%, 1/25/2041 | 9 | 9 |
Series 2019-7, Class CA, 3.50%, 11/25/2057 | 369 | 369 |
FNMA, REMIC Trust, Whole Loan Series 2002-W3, Class A4, 6.50%, 11/25/2041 | 177 | 189 |
GNMA | ||
Series 2015-H16, Class FG, 1.24%, 7/20/2065 (g) | 74 | 73 |
Series 2021-H14, Class YD, 8.30%, 6/20/2071 (g) | 195 | 218 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Legacy Mortgage Asset Trust Series 2021-GS1, Class A1, 1.89%, 10/25/2066 (d) (f) | 96 | 93 |
LHOME Mortgage Trust Series 2021-RTL1, Class A1, 2.09%, 9/25/2026 (d) (g) | 340 | 326 |
PRPM LLC | ||
Series 2021-2, Class A1, 2.12%, 3/25/2026 (d) (g) | 348 | 332 |
Series 2021-10, Class A1, 2.49%, 10/25/2026 (d) (f) | 86 | 82 |
Seasoned Credit Risk Transfer Trust | ||
Series 2018-1, Class M60C, 3.50%, 5/25/2057 | 219 | 216 |
Series 2018-3, Class M55D, 4.00%, 8/25/2057 ‡ (g) | 284 | 284 |
Series 2018-2, Class M55D, 4.00%, 11/25/2057 | 348 | 348 |
Series 2018-4, Class M55D, 4.00%, 3/25/2058 | 58 | 59 |
Series 2019-2, Class M55D, 4.00%, 8/25/2058 ‡ | 310 | 310 |
Series 2019-3, Class M55D, 4.00%, 10/25/2058 ‡ | 294 | 294 |
Towd Point Mortgage Trust Series 2021-R1, Class A1, 2.92%, 11/30/2060 (d) (g) | 401 | 365 |
Total Collateralized Mortgage Obligations (Cost $5,799) | 5,468 | |
Commercial Mortgage-Backed Securities — 0.1% | ||
ACRE Commercial Mortgage Ltd. | ||
Series 2021-FL4, Class A, 2.44%, 12/18/2037 (d) (g) | 172 | 170 |
Series 2021-FL4, Class AS, 2.71%, 12/18/2037 (d) (g) | 115 | 113 |
BPR Trust Series 2021-KEN, Class A, 2.57%, 2/15/2029 (d) (g) | 220 | 217 |
FHLMC, Multi-Family Structured Credit Risk Series 2021-MN2, Class M1, 2.73%, 7/25/2041 (d) (g) | 179 | 162 |
FNMA ACES | ||
Series 2018-M10, Class A1, 3.48%, 7/25/2028 (g) | 151 | 151 |
Series 2019-M21, Class 1A1, 1.95%, 5/25/2029 | 57 | 56 |
Series 2022-M1S, Class A2, 2.08%, 4/25/2032 | 365 | 317 |
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033 | 297 | 285 |
Series 2021-M3, Class X1, IO, 2.09%, 11/25/2033 (g) | 843 | 96 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 89 |
AS OF June 30, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Commercial Mortgage-Backed Securities — continued | ||
FNMA, Other 3.08%, 1/1/2029 (h) | 343 | 349 |
FREMF Mortgage Trust | ||
Series 2017-KGX1, Class BFX, 3.71%, 10/25/2027 (d) (g) | 115 | 106 |
Series 2016-K56, Class B, 4.08%, 6/25/2049 (d) (g) | 85 | 83 |
Series 2016-K58, Class B, 3.87%, 9/25/2049 (d) (g) | 465 | 450 |
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (d) | 195 | 165 |
Total Commercial Mortgage-Backed Securities (Cost $2,885) | 2,720 | |
Foreign Government Securities — 0.0% ^ | ||
United Mexican States (Mexico) 2.66%, 5/24/2031(Cost $400) | 400 | 329 |
SHARES (000) | ||
Short Term Investments — 4.2% | ||
Investment Companies — 4.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (i) (Cost $86,236) | 86,236 | 86,236 |
Total Investments — 99.4% (Cost $2,058,753) | 2,048,968 | |
Other Assets Less Liabilities — 0.6% | 13,221 | |
NET ASSETS — 100.0% | 2,062,189 |
Percentages indicated are based on net assets. |
Abbreviations | |
ABS | Asset-Backed Securities |
ACES | Alternative Credit Enhancement Securities |
CSMC | Credit Suisse Mortgage Trust |
ETF | Exchange Traded Fund |
FHLMC | Federal Home Loan Mortgage Corp. |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
ICE | Intercontinental Exchange |
IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. |
LIBOR | London Interbank Offered Rate |
REIT | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. |
TBA | To Be Announced; Security is subject to delayed delivery. |
UMBS | Uniform Mortgage-Backed Securities |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. | |
(c) | The rate shown is the effective yield as of June 30, 2022. | |
(d) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(e) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022. | |
(f) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of June 30, 2022. | |
(g) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of June 30, 2022. | |
(h) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(i) | The rate shown is the current yield as of June 30, 2022. |
90 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 159 | 09/16/2022 | USD | 30,178 | (833) |
Short Contracts | |||||
DJ US Real Estate Index | (282) | 09/16/2022 | USD | (10,079) | (359) |
MSCI EAFE E-Mini Index | (96) | 09/16/2022 | USD | (8,924) | 15 |
MSCI Emerging Markets E-Mini Index | (211) | 09/16/2022 | USD | (10,589) | (98) |
(442) | |||||
(1,275) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 91 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 61.7% | ||
Fixed Income — 12.2% | ||
JPMorgan Core Bond Fund Class R6 Shares (a) | 4,108 | 43,506 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 17,499 | 130,365 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 2,820 | 16,383 |
JPMorgan High Yield Fund Class R6 Shares (a) | 4,993 | 30,708 |
Total Fixed Income | 220,962 | |
International Equity — 10.1% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 11,717 | 184,082 |
U.S. Equity — 39.4% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 12,630 | 717,743 |
Total Investment Companies (Cost $1,069,810) | 1,122,787 | |
Exchange-Traded Funds — 35.2% | ||
Alternative Assets — 3.4% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 699 | 61,370 |
Fixed Income — 2.8% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 175 | 7,623 |
JPMorgan U.S. Aggregate Bond ETF (a) | 907 | 43,542 |
Total Fixed Income | 51,165 | |
International Equity — 20.0% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 7,709 | 364,558 |
U.S. Equity — 9.0% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 1,274 | 88,917 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 1,507 | 75,843 |
Total U.S. Equity | 164,760 | |
Total Exchange-Traded Funds (Cost $666,659) | 641,853 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
U.S. Treasury Obligations — 0.3% | ||
U.S. Treasury Notes 0.13%, 1/31/2023 (b)(Cost $4,939) | 4,950 | 4,880 |
SHARES (000) | ||
Short Term Investments — 2.1% | ||
Investment Companies — 2.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) (Cost $38,718) | 38,718 | 38,718 |
Total Investments — 99.3% (Cost $1,780,126) | 1,808,238 | |
Other Assets Less Liabilities — 0.7% | 12,252 | |
NET ASSETS — 100.0% | 1,820,490 |
Percentages indicated are based on net assets. |
Abbreviations | |
ETF | Exchange Traded Fund |
REIT | Real Estate Investment Trust |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. |
(c) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 118 | 09/16/2022 | USD | 22,396 | (618) |
92 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Short Contracts | |||||
DJ US Real Estate Index | (383) | 09/16/2022 | USD | (13,688) | (508) |
MSCI EAFE E-Mini Index | (96) | 09/16/2022 | USD | (8,924) | 36 |
MSCI Emerging Markets E-Mini Index | (281) | 09/16/2022 | USD | (14,102) | (131) |
(603) | |||||
(1,221) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 93 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 59.7% | ||
Fixed Income — 5.7% | ||
JPMorgan Core Bond Fund Class R6 Shares (a) | 1,661 | 17,588 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 7,074 | 52,701 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 1,112 | 6,464 |
JPMorgan High Yield Fund Class R6 Shares (a) | 1,270 | 7,812 |
Total Fixed Income | 84,565 | |
International Equity — 11.0% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 10,283 | 161,548 |
U.S. Equity — 43.0% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 11,118 | 631,823 |
Total Investment Companies (Cost $825,561) | 877,936 | |
Exchange-Traded Funds — 37.0% | ||
Alternative Assets — 3.6% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 610 | 53,611 |
Fixed Income — 1.7% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 179 | 7,810 |
JPMorgan U.S. Aggregate Bond ETF (a) | 367 | 17,601 |
Total Fixed Income | 25,411 | |
International Equity — 21.8% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 6,774 | 320,330 |
U.S. Equity — 9.9% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 1,122 | 78,306 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 1,323 | 66,587 |
Total U.S. Equity | 144,893 | |
Total Exchange-Traded Funds (Cost $569,942) | 544,245 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
U.S. Treasury Obligations — 0.3% | ||
U.S. Treasury Notes 0.13%, 1/31/2023 (b)(Cost $4,030) | 4,039 | 3,982 |
SHARES (000) | ||
Short Term Investments — 2.5% | ||
Investment Companies — 2.5% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) (Cost $36,169) | 36,169 | 36,169 |
Total Investments — 99.5% (Cost $1,435,702) | 1,462,332 | |
Other Assets Less Liabilities — 0.5% | 7,147 | |
NET ASSETS — 100.0% | 1,469,479 |
Percentages indicated are based on net assets. |
Abbreviations | |
ETF | Exchange Traded Fund |
REIT | Real Estate Investment Trust |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. |
(c) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 95 | 09/16/2022 | USD | 18,031 | (498) |
94 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Short Contracts | |||||
DJ US Real Estate Index | (305) | 09/16/2022 | USD | (10,901) | (404) |
MSCI EAFE E-Mini Index | (77) | 09/16/2022 | USD | (7,158) | 29 |
MSCI Emerging Markets E-Mini Index | (227) | 09/16/2022 | USD | (11,392) | (106) |
(481) | |||||
(979) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 95 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 59.6% | ||
Fixed Income — 4.7% | ||
JPMorgan Core Bond Fund Class R6 Shares (a) | 1,021 | 10,809 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 4,347 | 32,389 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 671 | 3,897 |
JPMorgan High Yield Fund Class R6 Shares (a) | 786 | 4,833 |
Total Fixed Income | 51,928 | |
International Equity — 11.1% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 7,911 | 124,287 |
U.S. Equity — 43.8% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 8,591 | 488,211 |
Total Investment Companies (Cost $618,047) | 664,426 | |
Exchange-Traded Funds — 37.2% | ||
Alternative Assets — 3.7% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 469 | 41,183 |
Fixed Income — 1.4% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 111 | 4,835 |
JPMorgan U.S. Aggregate Bond ETF (a) | 225 | 10,817 |
Total Fixed Income | 15,652 | |
International Equity — 22.1% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 5,213 | 246,534 |
U.S. Equity — 10.0% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 864 | 60,280 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 1,017 | 51,204 |
Total U.S. Equity | 111,484 | |
Total Exchange-Traded Funds (Cost $432,412) | 414,853 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
U.S. Treasury Obligations — 0.3% | ||
U.S. Treasury Notes 0.13%, 1/31/2023 (b)(Cost $3,127) | 3,134 | 3,090 |
SHARES (000) | ||
Short Term Investments — 2.4% | ||
Investment Companies — 2.4% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) (Cost $26,791) | 26,791 | 26,791 |
Total Investments — 99.5% (Cost $1,080,377) | 1,109,160 | |
Other Assets Less Liabilities — 0.5% | 5,170 | |
NET ASSETS — 100.0% | 1,114,330 |
Percentages indicated are based on net assets. |
Abbreviations | |
ETF | Exchange Traded Fund |
REIT | Real Estate Investment Trust |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. |
(c) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 72 | 09/16/2022 | USD | 13,666 | (377) |
96 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Short Contracts | |||||
DJ US Real Estate Index | (231) | 09/16/2022 | USD | (8,256) | (306) |
MSCI EAFE E-Mini Index | (59) | 09/16/2022 | USD | (5,484) | 22 |
MSCI Emerging Markets E-Mini Index | (172) | 09/16/2022 | USD | (8,632) | (80) |
(364) | |||||
(741) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 97 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 59.1% | ||
Fixed Income — 4.7% | ||
JPMorgan Core Bond Fund Class R6 Shares (a) | 569 | 6,020 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 2,421 | 18,039 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 370 | 2,147 |
JPMorgan High Yield Fund Class R6 Shares (a) | 433 | 2,665 |
Total Fixed Income | 28,871 | |
International Equity — 11.1% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 4,378 | 68,786 |
U.S. Equity — 43.3% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 4,733 | 268,949 |
Total Investment Companies (Cost $343,895) | 366,606 | |
Exchange-Traded Funds — 37.8% | ||
Alternative Assets — 3.7% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 259 | 22,789 |
Fixed Income — 1.4% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 61 | 2,665 |
JPMorgan U.S. Aggregate Bond ETF (a) | 126 | 6,025 |
Total Fixed Income | 8,690 | |
International Equity — 22.6% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 2,965 | 140,223 |
U.S. Equity — 10.1% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 497 | 34,714 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 561 | 28,225 |
Total U.S. Equity | 62,939 | |
Total Exchange-Traded Funds (Cost $243,993) | 234,641 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
U.S. Treasury Obligations — 0.3% | ||
U.S. Treasury Notes 0.13%, 1/31/2023 (b)(Cost $1,867) | 1,871 | 1,845 |
SHARES (000) | ||
Short Term Investments — 2.4% | ||
Investment Companies — 2.4% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) (Cost $15,007) | 15,007 | 15,007 |
Total Investments — 99.6% (Cost $604,762) | 618,099 | |
Other Assets Less Liabilities — 0.4% | 2,543 | |
NET ASSETS — 100.0% | 620,642 |
Percentages indicated are based on net assets. |
Abbreviations | |
ETF | Exchange Traded Fund |
REIT | Real Estate Investment Trust |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. |
(c) | The rate shown is the current yield as of June 30, 2022. |
98 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 40 | 09/16/2022 | USD | 7,592 | (210) |
Short Contracts | |||||
DJ US Real Estate Index | (126) | 09/16/2022 | USD | (4,503) | (167) |
MSCI EAFE E-Mini Index | (32) | 09/16/2022 | USD | (2,975) | 12 |
MSCI Emerging Markets E-Mini Index | (95) | 09/16/2022 | USD | (4,768) | (44) |
(199) | |||||
(409) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 99 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment Companies — 57.2% | ||
Fixed Income — 4.6% | ||
JPMorgan Core Bond Fund Class R6 Shares (a) | 218 | 2,309 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 924 | 6,887 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 134 | 776 |
JPMorgan High Yield Fund Class R6 Shares (a) | 157 | 963 |
Total Fixed Income | 10,935 | |
International Equity — 10.7% | ||
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 1,636 | 25,704 |
U.S. Equity — 41.9% | ||
JPMorgan Equity Index Fund Class R6 Shares (a) | 1,761 | 100,069 |
Total Investment Companies (Cost $139,423) | 136,708 | |
Exchange-Traded Funds — 38.0% | ||
Alternative Assets — 3.6% | ||
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 99 | 8,663 |
Fixed Income — 1.4% | ||
JPMorgan High Yield Research Enhanced ETF (a) | 22 | 963 |
JPMorgan U.S. Aggregate Bond ETF (a) | 48 | 2,304 |
Total Fixed Income | 3,267 | |
International Equity — 22.8% | ||
JPMorgan BetaBuilders International Equity ETF (a) | 1,152 | 54,500 |
U.S. Equity — 10.2% | ||
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 186 | 13,000 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 225 | 11,295 |
Total U.S. Equity | 24,295 | |
Total Exchange-Traded Funds (Cost $98,238) | 90,725 |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
U.S. Treasury Obligations — 0.3% | ||
U.S. Treasury Notes 0.13%, 1/31/2023 (b)(Cost $791) | 793 | 782 |
SHARES (000) | ||
Short Term Investments — 5.0% | ||
Investment Companies — 5.0% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) (Cost $11,956) | 11,956 | 11,956 |
Total Investments — 100.5% (Cost $250,408) | 240,171 | |
Liabilities in Excess of Other Assets — (0.5)% | (1,301) | |
NET ASSETS — 100.0% | 238,870 |
Percentages indicated are based on net assets. |
Abbreviations | |
ETF | Exchange Traded Fund |
REIT | Real Estate Investment Trust |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. |
(c) | The rate shown is the current yield as of June 30, 2022. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 34 | 09/16/2022 | USD | 6,453 | (59) |
100 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Short Contracts | |||||
DJ US Real Estate Index | (41) | 09/16/2022 | USD | (1,465) | (54) |
MSCI EAFE E-Mini Index | (12) | 09/16/2022 | USD | (1,115) | 5 |
MSCI Emerging Markets E-Mini Index | (21) | 09/16/2022 | USD | (1,054) | (10) |
(59) | |||||
(118) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 101 |
AS OF June 30, 2022
(Amounts in thousands, except per share amounts)
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpending 2015 Fund) | JPMorgan SmartRetirement® Blend 2020 Fund | |
ASSETS: | |||
Investments in non-affiliates, at value | $119,545 | $7,071 | $216,022 |
Investments in affiliates, at value | 449,118 | 19,558 | 811,992 |
Cash | 29 | 1 | 55 |
Receivables: | |||
Investment securities sold | 7,563 | 168 | 14,126 |
Fund shares sold | 769 | — | 1,851 |
Interest from non-affiliates | 582 | 25 | 1,090 |
Dividends from affiliates | 2 | —(a) | 3 |
Variation margin on futures contracts | 72 | 2 | 131 |
Due from adviser | 38 | 35 | 37 |
Total Assets | 577,718 | 26,860 | 1,045,307 |
LIABILITIES: | |||
Payables: | |||
Investment securities purchased | — | 75 | 3,874 |
Investment securities purchased — delayed delivery securities | 491 | 25 | 919 |
Fund shares redeemed | 1,634 | 133 | 1,470 |
Accrued liabilities: | |||
Administration fees | 14 | — | 37 |
Distribution fees | 1 | —(a) | 5 |
Service fees | 6 | 5 | 10 |
Custodian and accounting fees | 6 | 5 | 10 |
Trustees’ and Chief Compliance Officer’s fees | — | — | —(a) |
Other | 67 | 13 | 80 |
Total Liabilities | 2,219 | 256 | 6,405 |
Net Assets | $575,499 | $26,604 | $1,038,902 |
102 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpending 2015 Fund) | JPMorgan SmartRetirement® Blend 2020 Fund | |
NET ASSETS: | |||
Paid-in-Capital | $607,237 | $28,828 | $1,094,983 |
Total distributable earnings (loss) | (31,738) | (2,224) | (56,081) |
Total Net Assets: | $575,499 | $26,604 | $1,038,902 |
Net Assets: | |||
Class I | $3,519 | $25,557 | $5,098 |
Class R2 | 17 | 22 | 17 |
Class R3 | 5,767 | 23 | 21,581 |
Class R4 | 13,606 | 23 | 15,172 |
Class R5 | 14,108 | 23 | 18,776 |
Class R6 | 538,482 | 956 | 978,258 |
Total | $575,499 | $26,604 | $1,038,902 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | |||
Class I | 215 | 1,850 | 278 |
Class R2 | 1 | 1 | 1 |
Class R3 | 352 | 2 | 1,182 |
Class R4 | 829 | 2 | 827 |
Class R5 | 859 | 2 | 1,024 |
Class R6 | 32,751 | 69 | 53,299 |
Net Asset Value (a): | |||
Class I — Offering and redemption price per share | $16.42 | $13.81 | $18.32 |
Class R2 — Offering and redemption price per share | 16.41 | 13.76 | 18.32 |
Class R3 — Offering and redemption price per share | 16.39 | 13.78 | 18.27 |
Class R4 — Offering and redemption price per share | 16.41 | 13.81 | 18.34 |
Class R5 — Offering and redemption price per share | 16.42 | 13.82 | 18.34 |
Class R6 — Offering and redemption price per share | 16.44 | 13.83 | 18.35 |
Cost of investments in non-affiliates | $135,307 | $7,799 | $244,461 |
Cost of investments in affiliates | 454,733 | 20,378 | 821,441 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 103 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan SmartRetirement® Blend 2025 Fund | JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | |
ASSETS: | |||
Investments in non-affiliates, at value | $366,238 | $361,342 | $86,504 |
Investments in affiliates, at value | 1,451,651 | 1,811,599 | 1,962,464 |
Cash | 61 | 52 | 48 |
Receivables: | |||
Investment securities sold | 22,383 | 21,472 | 14,185 |
Investment securities sold — delayed delivery securities | — | — | 2,323 |
Fund shares sold | 4,294 | 5,730 | 4,020 |
Interest from non-affiliates | 1,775 | 1,705 | 387 |
Dividends from affiliates | 3 | 3 | 3 |
Due from adviser | 41 | 15 | 43 |
Total Assets | 1,846,446 | 2,201,918 | 2,069,977 |
LIABILITIES: | |||
Payables: | |||
Investment securities purchased | 5,496 | 4,167 | 1,708 |
Investment securities purchased — delayed delivery securities | 2,367 | 2,726 | 3,196 |
Fund shares redeemed | 2,304 | 1,459 | 2,566 |
Variation margin on futures contracts | 98 | 118 | 118 |
Accrued liabilities: | |||
Administration fees | 76 | 93 | 86 |
Distribution fees | 7 | 9 | 7 |
Service fees | 20 | 25 | 19 |
Custodian and accounting fees | 14 | 15 | 14 |
Trustees’ and Chief Compliance Officer’s fees | —(a) | —(a) | —(a) |
Other | 77 | 75 | 74 |
Total Liabilities | 10,459 | 8,687 | 7,788 |
Net Assets | $1,835,987 | $2,193,231 | $2,062,189 |
104 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2025 Fund | JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | |
NET ASSETS: | |||
Paid-in-Capital | $1,907,225 | $2,233,815 | $2,081,161 |
Total distributable earnings (loss) | (71,238) | (40,584) | (18,972) |
Total Net Assets: | $1,835,987 | $2,193,231 | $2,062,189 |
Net Assets: | |||
Class I | $12,346 | $13,080 | $6,629 |
Class R2 | 1,103 | 140 | 20 |
Class R3 | 29,917 | 44,192 | 32,276 |
Class R4 | 30,405 | 39,828 | 38,531 |
Class R5 | 43,290 | 44,084 | 35,173 |
Class R6 | 1,718,926 | 2,051,907 | 1,949,560 |
Total | $1,835,987 | $2,193,231 | $2,062,189 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | |||
Class I | 610 | 598 | 282 |
Class R2 | 55 | 7 | 1 |
Class R3 | 1,481 | 2,030 | 1,378 |
Class R4 | 1,499 | 1,821 | 1,638 |
Class R5 | 2,134 | 2,015 | 1,494 |
Class R6 | 84,688 | 93,713 | 82,769 |
Net Asset Value (a): | |||
Class I — Offering and redemption price per share | $20.26 | $21.86 | $23.50 |
Class R2 — Offering and redemption price per share | 20.19 | 21.90 | 23.70 |
Class R3 — Offering and redemption price per share | 20.20 | 21.77 | 23.43 |
Class R4 — Offering and redemption price per share | 20.28 | 21.87 | 23.52 |
Class R5 — Offering and redemption price per share | 20.28 | 21.87 | 23.54 |
Class R6 — Offering and redemption price per share | 20.30 | 21.90 | 23.55 |
Cost of investments in non-affiliates | $413,585 | $406,969 | $96,636 |
Cost of investments in affiliates | 1,444,775 | 1,778,839 | 1,962,117 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 105 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | JPMorgan SmartRetirement® Blend 2060 Fund | |
ASSETS: | |||||
Investments in non-affiliates, at value | $4,880 | $3,982 | $3,090 | $1,845 | $782 |
Investments in affiliates, at value | 1,803,358 | 1,458,350 | 1,106,070 | 616,254 | 239,389 |
Cash | 30 | 24 | 19 | 16 | 8 |
Receivables: | |||||
Investment securities sold | 9,532 | 6,169 | 3,743 | 1,754 | — |
Fund shares sold | 3,647 | 3,369 | 2,359 | 2,147 | 222 |
Interest from non-affiliates | 3 | 2 | 2 | 1 | — |
Dividends from affiliates | 1 | 1 | 1 | 1 | —(a) |
Due from adviser | 36 | 7 | 7 | 14 | 23 |
Total Assets | 1,821,487 | 1,471,904 | 1,115,291 | 622,032 | 240,424 |
LIABILITIES: | |||||
Payables: | |||||
Investment securities purchased | — | — | — | — | 1,074 |
Fund shares redeemed | 763 | 2,232 | 805 | 1,281 | 398 |
Variation margin on futures contracts | 49 | 39 | 30 | 17 | 33 |
Accrued liabilities: | |||||
Administration fees | 74 | 55 | 38 | 15 | — |
Distribution fees | 6 | 4 | 2 | 1 | 1 |
Service fees | 16 | 12 | 10 | 5 | 2 |
Custodian and accounting fees | 11 | 9 | 7 | 4 | 4 |
Trustees’ and Chief Compliance Officer’s fees | —(a) | —(a) | — | — | —(a) |
Other | 78 | 74 | 69 | 67 | 42 |
Total Liabilities | 997 | 2,425 | 961 | 1,390 | 1,554 |
Net Assets | $1,820,490 | $1,469,479 | $1,114,330 | $620,642 | $238,870 |
106 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | JPMorgan SmartRetirement® Blend 2060 Fund | |
NET ASSETS: | |||||
Paid-in-Capital | $1,795,628 | $1,441,310 | $1,086,387 | $608,636 | $249,351 |
Total distributable earnings (loss) | 24,862 | 28,169 | 27,943 | 12,006 | (10,481) |
Total Net Assets: | $1,820,490 | $1,469,479 | $1,114,330 | $620,642 | $238,870 |
Net Assets: | |||||
Class I | $5,656 | $7,763 | $2,505 | $2,092 | $9,233 |
Class R2 | 29 | 16 | 24 | 21 | 27 |
Class R3 | 29,263 | 18,610 | 10,840 | 2,989 | 2,066 |
Class R4 | 32,393 | 24,219 | 24,896 | 13,033 | 1,980 |
Class R5 | 24,949 | 20,491 | 16,656 | 13,728 | 3,030 |
Class R6 | 1,728,200 | 1,398,380 | 1,059,409 | 588,779 | 222,534 |
Total | $1,820,490 | $1,469,479 | $1,114,330 | $620,642 | $238,870 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | |||||
Class I | 232 | 309 | 100 | 84 | 477 |
Class R2 | 1 | 1 | 1 | 1 | 1 |
Class R3 | 1,203 | 745 | 435 | 121 | 107 |
Class R4 | 1,327 | 966 | 996 | 525 | 102 |
Class R5 | 1,021 | 816 | 665 | 552 | 157 |
Class R6 | 70,696 | 55,627 | 42,279 | 23,663 | 11,486 |
Net Asset Value (a): | |||||
Class I — Offering and redemption price per share | $24.42 | $25.07 | $25.03 | $24.84 | $19.37 |
Class R2 — Offering and redemption price per share | 24.40 | 25.06 | 24.99 | 24.81 | 19.32 |
Class R3 — Offering and redemption price per share | 24.32 | 24.98 | 24.94 | 24.73 | 19.29 |
Class R4 — Offering and redemption price per share | 24.41 | 25.07 | 25.01 | 24.81 | 19.38 |
Class R5 — Offering and redemption price per share | 24.44 | 25.10 | 25.03 | 24.85 | 19.35 |
Class R6 — Offering and redemption price per share | 24.45 | 25.14 | 25.06 | 24.88 | 19.37 |
Cost of investments in non-affiliates | $4,939 | $4,030 | $3,127 | $1,867 | $791 |
Cost of investments in affiliates | 1,775,187 | 1,431,672 | 1,077,250 | 602,895 | 249,617 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 107 |
FOR THE YEAR ENDED June 30, 2022
(Amounts in thousands)
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpending 2015 Fund) | JPMorgan SmartRetirement® Blend 2020 Fund | |
INVESTMENT INCOME: | |||
Interest income from non-affiliates | $2,998 | $118 | $5,800 |
Dividend income from non-affiliates | 525 | 34 | 938 |
Dividend income from affiliates | 12,578 | 529 | 23,140 |
Total investment income | 16,101 | 681 | 29,878 |
EXPENSES: | |||
Investment advisory fees | 1,036 | 45 | 1,918 |
Administration fees | 518 | 23 | 959 |
Distribution fees: | |||
Class A (a) | — | —(b) | — |
Class R2 | —(b) | —(b) | —(b) |
Class R3 | 19 | —(b) | 78 |
Service fees: | |||
Class A (a) | — | —(b) | — |
Class I | 12 | 74 | 21 |
Class R2 | —(b) | —(b) | —(b) |
Class R3 | 19 | —(b) | 78 |
Class R4 | 35 | —(b) | 41 |
Class R5 | 18 | —(b) | 25 |
Custodian and accounting fees | 44 | 37 | 59 |
Interest expense to affiliates | —(b) | —(b) | — |
Professional fees | 47 | 42 | 52 |
Trustees’ and Chief Compliance Officer’s fees | 27 | 25 | 29 |
Printing and mailing costs | 39 | 6 | 48 |
Registration and filing fees | 62 | 76 | 92 |
Transfer agency fees (See Note 2.I) | 10 | —(b) | 14 |
Other | 29 | 12 | 47 |
Total expenses | 1,915 | 340 | 3,461 |
Less fees waived | (1,229) | (69) | (2,222) |
Less expense reimbursements | (381) | (189) | (614) |
Net expenses | 305 | 82 | 625 |
Net investment income (loss) | 15,796 | 599 | 29,253 |
108 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpending 2015 Fund) | JPMorgan SmartRetirement® Blend 2020 Fund | |
REALIZED/UNREALIZED GAINS (LOSSES): | |||
Net realized gain (loss) on transactions from: | |||
Investments in non-affiliates | $(2,017) | $(75) | $(4,960) |
Investments in affiliates | (8,198) | (75) | (11,055) |
Futures contracts | (3,752) | (282) | (6,737) |
Foreign currency transactions | (25) | (4) | (59) |
Net realized gain (loss) | (13,992) | (436) | (22,811) |
Distribution of capital gains received from investment company affiliates | 1,601 | 60 | 3,001 |
Change in net unrealized appreciation/depreciation on: | |||
Investments in non-affiliates | (20,126) | (1,162) | (36,168) |
Investments in affiliates | (62,800) | (2,831) | (117,608) |
Futures contracts | 441 | 51 | 901 |
Foreign currency translations | 10 | 2 | 26 |
Change in net unrealized appreciation/depreciation | (82,475) | (3,940) | (152,849) |
Net realized/unrealized gains (losses) | (94,866) | (4,316) | (172,659) |
Change in net assets resulting from operations | $(79,070) | $(3,717) | $(143,406) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 109 |
FOR THE YEAR ENDED June 30, 2022 (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2025 Fund | JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | |
INVESTMENT INCOME: | |||
Interest income from non-affiliates | $8,433 | $7,963 | $1,686 |
Dividend income from non-affiliates | 3 | — | 4 |
Dividend income from affiliates | 41,689 | 49,947 | 54,175 |
Total investment income | 50,125 | 57,910 | 55,865 |
EXPENSES: | |||
Investment advisory fees | 3,201 | 3,744 | 3,472 |
Administration fees | 1,601 | 1,872 | 1,736 |
Distribution fees: | |||
Class R2 | 6 | 1 | 1 |
Class R3 | 106 | 144 | 96 |
Service fees: | |||
Class I | 51 | 55 | 27 |
Class R2 | 3 | —(a) | 1 |
Class R3 | 106 | 144 | 96 |
Class R4 | 81 | 107 | 103 |
Class R5 | 56 | 64 | 48 |
Custodian and accounting fees | 85 | 97 | 88 |
Interest expense to affiliates | — | —(a) | —(a) |
Professional fees | 58 | 61 | 60 |
Trustees’ and Chief Compliance Officer’s fees | 31 | 32 | 32 |
Printing and mailing costs | 63 | 71 | 79 |
Registration and filing fees | 74 | 104 | 72 |
Transfer agency fees (See Note 2.I) | 23 | 25 | 23 |
Other | 66 | 78 | 73 |
Total expenses | 5,611 | 6,599 | 6,007 |
Less fees waived | (3,645) | (4,258) | (3,949) |
Less expense reimbursements | (573) | (193) | (696) |
Net expenses | 1,393 | 2,148 | 1,362 |
Net investment income (loss) | 48,732 | 55,762 | 54,503 |
110 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2025 Fund | JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | |
REALIZED/UNREALIZED GAINS (LOSSES): | |||
Net realized gain (loss) on transactions from: | |||
Investments in non-affiliates | $(10,186) | $(8,863) | $(1,732) |
Investments in affiliates | (18,118) | (15,142) | (14,422) |
Futures contracts | (13,607) | (15,522) | (8,623) |
Foreign currency transactions | (71) | (79) | (35) |
Net realized gain (loss) | (41,982) | (39,606) | (24,812) |
Distribution of capital gains received from investment company affiliates | 8,842 | 12,796 | 16,196 |
Change in net unrealized appreciation/depreciation on: | |||
Investments in non-affiliates | (43,908) | (42,737) | (9,466) |
Investments in affiliates | (246,425) | (334,412) | (372,115) |
Futures contracts | (449) | (513) | (312) |
Foreign currency translations | 34 | 36 | 29 |
Change in net unrealized appreciation/depreciation | (290,748) | (377,626) | (381,864) |
Net realized/unrealized gains (losses) | (323,888) | (404,436) | (390,480) |
Change in net assets resulting from operations | $(275,156) | $(348,674) | $(335,977) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 111 |
FOR THE YEAR ENDED June 30, 2022 (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | JPMorgan SmartRetirement® Blend 2060 Fund | |
INVESTMENT INCOME: | |||||
Interest income from non-affiliates | $21 | $15 | $12 | $7 | $3 |
Dividend income from non-affiliates | — | — | — | — | — |
Dividend income from affiliates | 49,477 | 39,242 | 30,024 | 16,276 | 5,403 |
Total investment income | 49,498 | 39,257 | 30,036 | 16,283 | 5,406 |
EXPENSES: | |||||
Investment advisory fees | 3,115 | 2,498 | 1,914 | 1,035 | 335 |
Administration fees | 1,558 | 1,249 | 957 | 518 | 167 |
Distribution fees: | |||||
Class R2 | —(a) | —(a) | —(a) | —(a) | —(a) |
Class R3 | 92 | 56 | 34 | 12 | 6 |
Service fees: | |||||
Class I | 19 | 25 | 9 | 7 | 4 |
Class R2 | —(a) | —(a) | —(a) | —(a) | — |
Class R3 | 92 | 56 | 34 | 12 | 6 |
Class R4 | 87 | 63 | 68 | 34 | 3 |
Class R5 | 41 | 32 | 28 | 21 | 6 |
Custodian and accounting fees | 64 | 53 | 41 | 26 | 25 |
Interest expense to affiliates | — | — | — | —(a) | — |
Professional fees | 59 | 55 | 52 | 47 | 44 |
Trustees’ and Chief Compliance Officer’s fees | 31 | 30 | 29 | 27 | 26 |
Printing and mailing costs | 80 | 80 | 78 | 67 | 48 |
Registration and filing fees | 88 | 94 | 84 | 68 | 88 |
Transfer agency fees (See Note 2.I) | 30 | 19 | 16 | 12 | 8 |
Other | 72 | 66 | 60 | 41 | 23 |
Total expenses | 5,428 | 4,376 | 3,404 | 1,927 | 789 |
Less fees waived | (3,552) | (2,872) | (2,219) | (1,235) | (462) |
Less expense reimbursements | (414) | (31) | (45) | (77) | (127) |
Net expenses | 1,462 | 1,473 | 1,140 | 615 | 200 |
Net investment income (loss) | 48,036 | 37,784 | 28,896 | 15,668 | 5,206 |
112 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | JPMorgan SmartRetirement® Blend 2060 Fund | |
REALIZED/UNREALIZED GAINS (LOSSES): | |||||
Net realized gain (loss) on transactions from: | |||||
Investments in non-affiliates | $(31) | $(21) | $(18) | $(8) | $(1) |
Investments in affiliates | (7,356) | (4,546) | (3,947) | (2,824) | (1,076) |
Futures contracts | (7,011) | (5,678) | (4,256) | (2,582) | (931) |
Foreign currency transactions | (86) | (84) | (50) | (24) | (13) |
Net realized gain (loss) | (14,484) | (10,329) | (8,271) | (5,438) | (2,021) |
Distribution of capital gains received from investment company affiliates | 15,564 | 13,355 | 10,192 | 5,480 | 1,731 |
Change in net unrealized appreciation/ depreciation on: | |||||
Investments in non-affiliates | (61) | (49) | (38) | (22) | (10) |
Investments in affiliates | (357,041) | (296,149) | (224,419) | (122,167) | (43,445) |
Futures contracts | (389) | (300) | (239) | (131) | (40) |
Foreign currency translations | 35 | 25 | 27 | 9 | 4 |
Change in net unrealized appreciation/ depreciation | (357,456) | (296,473) | (224,669) | (122,311) | (43,491) |
Net realized/unrealized gains (losses) | (356,376) | (293,447) | (222,748) | (122,269) | (43,781) |
Change in net assets resulting from operations | $(308,340) | $(255,663) | $(193,852) | $(106,601) | $(38,575) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 113 |
FOR THE PERIODS INDICATED
(Amounts in thousands)
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpending 2015 Fund) | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $15,796 | $13,421 | $599 | $529 |
Net realized gain (loss) | (13,992) | 29,645 | (436) | 1,618 |
Distributions of capital gains received from investment company non-affiliates | — | —(a) | — | — |
Distributions of capital gains received from investment company affiliates | 1,601 | 1,062 | 60 | 48 |
Change in net unrealized appreciation/depreciation | (82,475) | 44,178 | (3,940) | 2,028 |
Change in net assets resulting from operations | (79,070) | 88,306 | (3,717) | 4,223 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A (b) | — | — | — | —(a) |
Class I | (213) | (252) | (1,739) | (598) |
Class R2 | (1) | (3) | (1) | —(a) |
Class R3 | (292) | (310) | (1) | —(a) |
Class R4 | (584) | (136) | (2) | —(a) |
Class R5 | (711) | (978) | (2) | (1) |
Class R6 | (27,374) | (28,226) | (2) | (1) |
Total distributions to shareholders | (29,175) | (29,905) | (1,747) | (600) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | (79,665) | 214,256 | 1,133 | (1,047) |
NET ASSETS: | ||||
Change in net assets | (187,910) | 272,657 | (4,331) | 2,576 |
Beginning of period | 763,409 | 490,752 | 30,935 | 28,359 |
End of period | $575,499 | $763,409 | $26,604 | $30,935 |
114 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2020 Fund | JPMorgan SmartRetirement® Blend 2025 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $29,253 | $26,059 | $48,732 | $36,493 |
Net realized gain (loss) | (22,811) | 66,720 | (41,982) | 87,915 |
Distributions of capital gains received from investment company non-affiliates | — | — | — | —(a) |
Distributions of capital gains received from investment company affiliates | 3,001 | 2,065 | 8,842 | 2,574 |
Change in net unrealized appreciation/depreciation | (152,849) | 84,000 | (290,748) | 206,719 |
Change in net assets resulting from operations | (143,406) | 178,844 | (275,156) | 333,701 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class I | (494) | (472) | (961) | (730) |
Class R2 | (1) | (1) | (50) | (38) |
Class R3 | (1,620) | (1,461) | (1,861) | (1,398) |
Class R4 | (808) | (205) | (1,404) | (421) |
Class R5 | (1,066) | (1,518) | (2,382) | (2,572) |
Class R6 | (60,467) | (53,497) | (89,042) | (66,778) |
Total distributions to shareholders | (64,456) | (57,154) | (95,700) | (71,937) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | (213,795) | 390,974 | (88,072) | 745,936 |
NET ASSETS: | ||||
Change in net assets | (421,657) | 512,664 | (458,928) | 1,007,700 |
Beginning of period | 1,460,559 | 947,895 | 2,294,915 | 1,287,215 |
End of period | $1,038,902 | $1,460,559 | $1,835,987 | $2,294,915 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 115 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $55,762 | $40,044 | $54,503 | $37,663 |
Net realized gain (loss) | (39,606) | 97,300 | (24,812) | 72,229 |
Distributions of capital gains received from investment company non-affiliates | — | —(a) | — | —(a) |
Distributions of capital gains received from investment company affiliates | 12,796 | 2,294 | 16,196 | 5,947 |
Change in net unrealized appreciation/depreciation | (377,626) | 312,048 | (381,864) | 330,172 |
Change in net assets resulting from operations | (348,674) | 451,686 | (335,977) | 446,011 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class I | (1,070) | (546) | (630) | (247) |
Class R2 | (2) | (7) | (2) | (7) |
Class R3 | (2,610) | (1,503) | (1,754) | (576) |
Class R4 | (1,870) | (452) | (1,968) | (331) |
Class R5 | (2,709) | (2,526) | (2,122) | (1,283) |
Class R6 | (105,089) | (59,270) | (106,172) | (38,622) |
Total distributions to shareholders | (113,350) | (64,304) | (112,648) | (41,066) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 23,518 | 789,602 | 119,295 | 839,917 |
NET ASSETS: | ||||
Change in net assets | (438,506) | 1,176,984 | (329,330) | 1,244,862 |
Beginning of period | 2,631,737 | 1,454,753 | 2,391,519 | 1,146,657 |
End of period | $2,193,231 | $2,631,737 | $2,062,189 | $2,391,519 |
116 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $48,036 | $33,435 | $37,784 | $24,816 |
Net realized gain (loss) | (14,484) | 74,276 | (10,329) | 54,023 |
Distributions of capital gains received from investment company affiliates | 15,564 | 3,163 | 13,355 | 1,012 |
Change in net unrealized appreciation/depreciation | (357,456) | 345,309 | (296,473) | 293,483 |
Change in net assets resulting from operations | (308,340) | 456,183 | (255,663) | 373,334 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class I | (391) | (123) | (499) | (135) |
Class R2 | (1) | (1) | (1) | —(a) |
Class R3 | (1,734) | (513) | (982) | (265) |
Class R4 | (1,678) | (275) | (1,124) | (186) |
Class R5 | (2,066) | (904) | (1,324) | (720) |
Class R6 | (98,043) | (32,156) | (72,548) | (23,591) |
Total distributions to shareholders | (103,913) | (33,972) | (76,478) | (24,897) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 92,158 | 620,604 | 117,047 | 544,305 |
NET ASSETS: | ||||
Change in net assets | (320,095) | 1,042,815 | (215,094) | 892,742 |
Beginning of period | 2,140,585 | 1,097,770 | 1,684,573 | 791,831 |
End of period | $1,820,490 | $2,140,585 | $1,469,479 | $1,684,573 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 117 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $28,896 | $19,325 | $15,668 | $10,250 |
Net realized gain (loss) | (8,271) | 45,290 | (5,438) | 23,433 |
Distributions of capital gains received from investment company affiliates | 10,192 | 796 | 5,480 | 420 |
Change in net unrealized appreciation/depreciation | (224,669) | 230,330 | (122,311) | 124,709 |
Change in net assets resulting from operations | (193,852) | 295,741 | (106,601) | 158,812 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class I | (196) | (64) | (140) | (41) |
Class R2 | — | (1) | (1) | (1) |
Class R3 | (571) | (182) | (189) | (71) |
Class R4 | (1,234) | (203) | (623) | (108) |
Class R5 | (1,248) | (616) | (959) | (437) |
Class R6 | (56,530) | (18,379) | (30,829) | (9,496) |
Total distributions to shareholders | (59,779) | (19,445) | (32,741) | (10,154) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 71,794 | 374,613 | 72,188 | 185,399 |
NET ASSETS: | ||||
Change in net assets | (181,837) | 650,909 | (67,154) | 334,057 |
Beginning of period | 1,296,167 | 645,258 | 687,796 | 353,739 |
End of period | $1,114,330 | $1,296,167 | $620,642 | $687,796 |
118 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2060 Fund | ||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||
Net investment income (loss) | $5,206 | $2,644 |
Net realized gain (loss) | (2,021) | 4,913 |
Distributions of capital gains received from investment company non-affiliates | — | —(a) |
Distributions of capital gains received from investment company affiliates | 1,731 | 102 |
Change in net unrealized appreciation/depreciation | (43,491) | 31,775 |
Change in net assets resulting from operations | (38,575) | 39,434 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||
Class I | (25) | (6) |
Class R2 | (1) | —(a) |
Class R3 | (80) | (26) |
Class R4 | (28) | (4) |
Class R5 | (257) | (98) |
Class R6 | (8,311) | (2,530) |
Total distributions to shareholders | (8,702) | (2,664) |
CAPITAL TRANSACTIONS: | ||
Change in net assets resulting from capital transactions | 88,962 | 83,806 |
NET ASSETS: | ||
Change in net assets | 41,685 | 120,576 |
Beginning of period | 197,185 | 76,609 |
End of period | $238,870 | $197,185 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 119 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpending 2015 Fund) | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A (a) | ||||
Proceeds from shares issued | $— | $— | $1 | $—(b) |
Cost of shares redeemed | — | — | (28) | — |
Change in net assets resulting from Class A capital transactions | — | — | (27) | —(b) |
Class I | ||||
Proceeds from shares issued | 539 | 692 | — | —(b) |
Distributions reinvested | 212 | 252 | 1,740 | 598 |
Cost of shares redeemed | (2,739) | (1,043) | (1,622) | (1,647) |
Change in net assets resulting from Class I capital transactions | (1,988) | (99) | 118 | (1,049) |
Class R2 | ||||
Proceeds from shares issued | — | 3 | — | — |
Distributions reinvested | 1 | 2 | 1 | —(b) |
Cost of shares redeemed | (37) | (4) | — | — |
Change in net assets resulting from Class R2 capital transactions | (36) | 1 | 1 | —(b) |
Class R3 | ||||
Proceeds from shares issued | 251 | 2,463 | — | — |
Distributions reinvested | 287 | 303 | 1 | —(b) |
Cost of shares redeemed | (2,820) | (1,170) | — | — |
Change in net assets resulting from Class R3 capital transactions | (2,282) | 1,596 | 1 | —(b) |
Class R4 | ||||
Proceeds from shares issued | 5,517 | 12,628 | — | — |
Distributions reinvested | 583 | 136 | 2 | —(b) |
Cost of shares redeemed | (3,553) | (1,059) | — | — |
Change in net assets resulting from Class R4 capital transactions | 2,547 | 11,705 | 2 | —(b) |
Class R5 | ||||
Proceeds from shares issued | 3,137 | 8,198 | — | — |
Distributions reinvested | 711 | 968 | 2 | 1 |
Cost of shares redeemed | (8,742) | (15,498) | — | — |
Change in net assets resulting from Class R5 capital transactions | (4,894) | (6,332) | 2 | 1 |
Class R6 | ||||
Proceeds from shares issued | 107,335 | 401,432 | 1,763 | — |
Distributions reinvested | 27,051 | 27,914 | 2 | 1 |
Cost of shares redeemed | (207,398) | (221,961) | (729) | — |
Change in net assets resulting from Class R6 capital transactions | (73,012) | 207,385 | 1,036 | 1 |
Total change in net assets resulting from capital transactions | $(79,665) | $214,256 | $1,133 | $(1,047) |
120 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpending 2015 Fund) | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: | ||||
Class A (a) | ||||
Issued | — | — | — | —(b) |
Reinvested | — | — | — | —(b) |
Redeemed | — | — | (2) | — |
Change in Class A Shares | — | — | (2) | —(b) |
Class I | ||||
Issued | 28 | 36 | — | —(b) |
Reinvested | 11 | 14 | 108 | 37 |
Redeemed | (144) | (55) | (104) | (104) |
Change in Class I Shares | (105) | (5) | 4 | (67) |
Class R2 | ||||
Reinvested | — | —(b) | — | —(b) |
Redeemed | (2) | —(b) | — | — |
Change in Class R2 Shares | (2) | —(b) | — | —(b) |
Class R3 | ||||
Issued | 13 | 132 | — | — |
Reinvested | 15 | 16 | 1 | —(b) |
Redeemed | (146) | (62) | — | — |
Change in Class R3 Shares | (118) | 86 | 1 | —(b) |
Class R4 | ||||
Issued | 294 | 645 | — | — |
Reinvested | 31 | 7 | — | 1 |
Redeemed | (189) | (56) | — | — |
Change in Class R4 Shares | 136 | 596 | — | 1 |
Class R5 | ||||
Issued | 168 | 433 | — | — |
Reinvested | 38 | 51 | — | —(b) |
Redeemed | (458) | (821) | — | — |
Change in Class R5 Shares | (252) | (337) | — | —(b) |
Class R6 | ||||
Issued | 5,859 | 21,269 | 112 | — |
Reinvested | 1,415 | 1,478 | — | —(b) |
Redeemed | (11,100) | (11,714) | (45) | — |
Change in Class R6 Shares | (3,826) | 11,033 | 67 | —(b) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 121 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2020 Fund | JPMorgan SmartRetirement® Blend 2025 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class I | ||||
Proceeds from shares issued | $602 | $990 | $1,623 | $2,158 |
Distributions reinvested | 493 | 472 | 961 | 730 |
Cost of shares redeemed | (4,973) | (4,542) | (9,133) | (2,779) |
Change in net assets resulting from Class I capital transactions | (3,878) | (3,080) | (6,549) | 109 |
Class R2 | ||||
Proceeds from shares issued | — | —(a) | 88 | 203 |
Distributions reinvested | 1 | 1 | 50 | 38 |
Cost of shares redeemed | (10) | — | (37) | (174) |
Change in net assets resulting from Class R2 capital transactions | (9) | 1 | 101 | 67 |
Class R3 | ||||
Proceeds from shares issued | 3,694 | 7,508 | 10,880 | 11,813 |
Distributions reinvested | 1,593 | 1,450 | 1,817 | 1,378 |
Cost of shares redeemed | (17,191) | (10,916) | (23,859) | (7,048) |
Change in net assets resulting from Class R3 capital transactions | (11,904) | (1,958) | (11,162) | 6,143 |
Class R4 | ||||
Proceeds from shares issued | 4,170 | 14,218 | 7,878 | 27,781 |
Distributions reinvested | 808 | 205 | 1,404 | 421 |
Cost of shares redeemed | (3,519) | (3,570) | (5,174) | (4,431) |
Change in net assets resulting from Class R4 capital transactions | 1,459 | 10,853 | 4,108 | 23,771 |
Class R5 | ||||
Proceeds from shares issued | 10,835 | 14,568 | 16,540 | 24,792 |
Distributions reinvested | 1,066 | 1,517 | 2,382 | 2,572 |
Cost of shares redeemed | (23,822) | (27,456) | (39,118) | (44,829) |
Change in net assets resulting from Class R5 capital transactions | (11,921) | (11,371) | (20,196) | (17,465) |
Class R6 | ||||
Proceeds from shares issued | 196,568 | 801,256 | 422,533 | 1,192,857 |
Distributions reinvested | 59,792 | 52,884 | 87,911 | 65,910 |
Cost of shares redeemed | (443,902) | (457,611) | (564,818) | (525,456) |
Change in net assets resulting from Class R6 capital transactions | (187,542) | 396,529 | (54,374) | 733,311 |
Total change in net assets resulting from capital transactions | $(213,795) | $390,974 | $(88,072) | $745,936 |
SHARE TRANSACTIONS: | ||||
Class I | ||||
Issued | 28 | 46 | 70 | 93 |
Reinvested | 24 | 22 | 40 | 31 |
Redeemed | (242) | (213) | (419) | (120) |
Change in Class I Shares | (190) | (145) | (309) | 4 |
122 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2020 Fund | JPMorgan SmartRetirement® Blend 2025 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R2 | ||||
Issued | — | — | 5 | 8 |
Reinvested | — | —(a) | 2 | 2 |
Redeemed | — | — | (2) | (7) |
Change in Class R2 Shares | — | —(a) | 5 | 3 |
Class R3 | ||||
Issued | 178 | 363 | 455 | 520 |
Reinvested | 75 | 68 | 76 | 60 |
Redeemed | (827) | (520) | (1,012) | (307) |
Change in Class R3 Shares | (574) | (89) | (481) | 273 |
Class R4 | ||||
Issued | 200 | 647 | 335 | 1,148 |
Reinvested | 38 | 10 | 58 | 18 |
Redeemed | (170) | (175) | (217) | (198) |
Change in Class R4 Shares | 68 | 482 | 176 | 968 |
Class R5 | ||||
Issued | 526 | 693 | 712 | 1,051 |
Reinvested | 50 | 72 | 98 | 111 |
Redeemed | (1,122) | (1,307) | (1,638) | (1,943) |
Change in Class R5 Shares | (546) | (542) | (828) | (781) |
Class R6 | ||||
Issued | 9,634 | 37,758 | 18,571 | 51,528 |
Reinvested | 2,799 | 2,489 | 3,652 | 2,830 |
Redeemed | (21,159) | (21,456) | (24,164) | (22,582) |
Change in Class R6 Shares | (8,726) | 18,791 | (1,941) | 31,776 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 123 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class I | ||||
Proceeds from shares issued | $1,602 | $4,467 | $1,289 | $1,980 |
Distributions reinvested | 1,068 | 544 | 627 | 223 |
Cost of shares redeemed | (10,615) | (549) | (7,114) | (3,492) |
Change in net assets resulting from Class I capital transactions | (7,945) | 4,462 | (5,198) | (1,289) |
Class R2 | ||||
Proceeds from shares issued | 137 | 318 | 109 | 600 |
Distributions reinvested | 2 | 6 | 1 | 7 |
Cost of shares redeemed | (24) | (362) | (783) | (84) |
Change in net assets resulting from Class R2 capital transactions | 115 | (38) | (673) | 523 |
Class R3 | ||||
Proceeds from shares issued | 9,267 | 14,213 | 6,946 | 9,201 |
Distributions reinvested | 2,490 | 1,411 | 1,643 | 537 |
Cost of shares redeemed | (22,084) | (11,955) | (9,556) | (4,953) |
Change in net assets resulting from Class R3 capital transactions | (10,327) | 3,669 | (967) | 4,785 |
Class R4 | ||||
Proceeds from shares issued | 9,816 | 35,809 | 9,934 | 31,914 |
Distributions reinvested | 1,870 | 452 | 1,968 | 331 |
Cost of shares redeemed | (6,303) | (5,367) | (3,107) | (6,432) |
Change in net assets resulting from Class R4 capital transactions | 5,383 | 30,894 | 8,795 | 25,813 |
Class R5 | ||||
Proceeds from shares issued | 17,111 | 23,882 | 16,716 | 15,680 |
Distributions reinvested | 2,709 | 2,526 | 2,118 | 1,281 |
Cost of shares redeemed | (53,272) | (41,017) | (44,165) | (25,076) |
Change in net assets resulting from Class R5 capital transactions | (33,452) | (14,609) | (25,331) | (8,115) |
Class R6 | ||||
Proceeds from shares issued | 538,704 | 1,282,006 | 523,087 | 1,228,224 |
Distributions reinvested | 104,184 | 58,764 | 104,483 | 38,048 |
Cost of shares redeemed | (573,144) | (575,546) | (484,901) | (448,072) |
Change in net assets resulting from Class R6 capital transactions | 69,744 | 765,224 | 142,669 | 818,200 |
Total change in net assets resulting from capital transactions | $23,518 | $789,602 | $119,295 | $839,917 |
SHARE TRANSACTIONS: | ||||
Class I | ||||
Issued | 64 | 174 | 47 | 73 |
Reinvested | 40 | 22 | 22 | 9 |
Redeemed | (443) | (22) | (258) | (127) |
Change in Class I Shares | (339) | 174 | (189) | (45) |
124 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R2 | ||||
Issued | 6 | 14 | 4 | 25 |
Reinvested | —(a) | —(a) | —(a) | —(a) |
Redeemed | (1) | (14) | (26) | (3) |
Change in Class R2 Shares | 5 | —(a) | (22) | 22 |
Class R3 | ||||
Issued | 360 | 588 | 254 | 358 |
Reinvested | 95 | 57 | 57 | 20 |
Redeemed | (855) | (474) | (339) | (190) |
Change in Class R3 Shares | (400) | 171 | (28) | 188 |
Class R4 | ||||
Issued | 385 | 1,366 | 356 | 1,116 |
Reinvested | 71 | 18 | 69 | 12 |
Redeemed | (243) | (231) | (111) | (264) |
Change in Class R4 Shares | 213 | 1,153 | 314 | 864 |
Class R5 | ||||
Issued | 676 | 957 | 604 | 594 |
Reinvested | 103 | 101 | 74 | 48 |
Redeemed | (2,051) | (1,635) | (1,538) | (961) |
Change in Class R5 Shares | (1,272) | (577) | (860) | (319) |
Class R6 | ||||
Issued | 21,696 | 51,696 | 19,456 | 46,557 |
Reinvested | 3,953 | 2,345 | 3,644 | 1,408 |
Redeemed | (22,361) | (22,979) | (17,461) | (16,752) |
Change in Class R6 Shares | 3,288 | 31,062 | 5,639 | 31,213 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 125 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class I | ||||
Proceeds from shares issued | $1,053 | $1,326 | $1,289 | $2,623 |
Distributions reinvested | 382 | 121 | 384 | 115 |
Cost of shares redeemed | (3,029) | (812) | (2,990) | (576) |
Change in net assets resulting from Class I capital transactions | (1,594) | 635 | (1,317) | 2,162 |
Class R2 | ||||
Proceeds from shares issued | 12 | 72 | — | 15 |
Distributions reinvested | 1 | 1 | 1 | —(a) |
Cost of shares redeemed | (17) | (90) | (17) | (19) |
Change in net assets resulting from Class R2 capital transactions | (4) | (17) | (16) | (4) |
Class R3 | ||||
Proceeds from shares issued | 4,614 | 11,027 | 4,125 | 6,396 |
Distributions reinvested | 1,585 | 470 | 895 | 237 |
Cost of shares redeemed | (12,091) | (3,745) | (5,451) | (3,250) |
Change in net assets resulting from Class R3 capital transactions | (5,892) | 7,752 | (431) | 3,383 |
Class R4 | ||||
Proceeds from shares issued | 8,428 | 27,596 | 9,998 | 18,578 |
Distributions reinvested | 1,678 | 275 | 1,124 | 186 |
Cost of shares redeemed | (4,567) | (5,100) | (4,774) | (4,274) |
Change in net assets resulting from Class R4 capital transactions | 5,539 | 22,771 | 6,348 | 14,490 |
Class R5 | ||||
Proceeds from shares issued | 10,224 | 15,227 | 10,737 | 10,224 |
Distributions reinvested | 2,066 | 904 | 1,311 | 720 |
Cost of shares redeemed | (35,674) | (21,996) | (29,440) | (21,719) |
Change in net assets resulting from Class R5 capital transactions | (23,384) | (5,865) | (17,392) | (10,775) |
Class R6 | ||||
Proceeds from shares issued | 479,772 | 1,045,299 | 404,711 | 859,668 |
Distributions reinvested | 97,186 | 31,917 | 71,514 | 23,274 |
Cost of shares redeemed | (459,465) | (481,888) | (346,370) | (347,893) |
Change in net assets resulting from Class R6 capital transactions | 117,493 | 595,328 | 129,855 | 535,049 |
Total change in net assets resulting from capital transactions | $92,158 | $620,604 | $117,047 | $544,305 |
SHARE TRANSACTIONS: | ||||
Class I | ||||
Issued | 37 | 47 | 41 | 90 |
Reinvested | 13 | 4 | 12 | 4 |
Redeemed | (103) | (30) | (99) | (21) |
Change in Class I Shares | (53) | 21 | (46) | 73 |
126 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R2 | ||||
Issued | 1 | 2 | 1 | 1 |
Reinvested | — | —(a) | — | —(a) |
Redeemed | (1) | (3) | (1) | (1) |
Change in Class R2 Shares | — | (1) | — | —(a) |
Class R3 | ||||
Issued | 159 | 426 | 138 | 234 |
Reinvested | 53 | 17 | 29 | 9 |
Redeemed | (403) | (141) | (179) | (116) |
Change in Class R3 Shares | (191) | 302 | (12) | 127 |
Class R4 | ||||
Issued | 292 | 924 | 337 | 607 |
Reinvested | 56 | 10 | 36 | 6 |
Redeemed | (157) | (208) | (160) | (169) |
Change in Class R4 Shares | 191 | 726 | 213 | 444 |
Class R5 | ||||
Issued | 353 | 552 | 359 | 371 |
Reinvested | 69 | 33 | 42 | 26 |
Redeemed | (1,194) | (813) | (956) | (783) |
Change in Class R5 Shares | (772) | (228) | (555) | (386) |
Class R6 | ||||
Issued | 16,987 | 38,396 | 13,868 | 31,133 |
Reinvested | 3,236 | 1,141 | 2,300 | 816 |
Redeemed | (15,767) | (17,410) | (11,575) | (12,368) |
Change in Class R6 Shares | 4,456 | 22,127 | 4,593 | 19,581 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 127 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class I | ||||
Proceeds from shares issued | $726 | $1,063 | $589 | $1,009 |
Distributions reinvested | 195 | 64 | 140 | 41 |
Cost of shares redeemed | (2,379) | (851) | (1,236) | (442) |
Change in net assets resulting from Class I capital transactions | (1,458) | 276 | (507) | 608 |
Class R2 | ||||
Proceeds from shares issued | 8 | 101 | 7 | 145 |
Distributions reinvested | 1 | 1 | 1 | 1 |
Cost of shares redeemed | (27) | (115) | (20) | (183) |
Change in net assets resulting from Class R2 capital transactions | (18) | (13) | (12) | (37) |
Class R3 | ||||
Proceeds from shares issued | 3,498 | 5,350 | 1,575 | 4,017 |
Distributions reinvested | 466 | 149 | 146 | 56 |
Cost of shares redeemed | (6,151) | (2,252) | (4,432) | (1,634) |
Change in net assets resulting from Class R3 capital transactions | (2,187) | 3,247 | (2,711) | 2,439 |
Class R4 | ||||
Proceeds from shares issued | 7,159 | 20,543 | 5,511 | 9,595 |
Distributions reinvested | 1,234 | 203 | 623 | 108 |
Cost of shares redeemed | (3,923) | (2,806) | (3,094) | (1,500) |
Change in net assets resulting from Class R4 capital transactions | 4,470 | 17,940 | 3,040 | 8,203 |
Class R5 | ||||
Proceeds from shares issued | 7,906 | 9,503 | 6,464 | 8,577 |
Distributions reinvested | 1,248 | 615 | 959 | 436 |
Cost of shares redeemed | (26,400) | (14,398) | (18,377) | (11,806) |
Change in net assets resulting from Class R5 capital transactions | (17,246) | (4,280) | (10,954) | (2,793) |
Class R6 | ||||
Proceeds from shares issued | 340,655 | 640,331 | 234,325 | 353,892 |
Distributions reinvested | 55,923 | 18,185 | 30,328 | 9,334 |
Cost of shares redeemed | (308,345) | (301,073) | (181,321) | (186,247) |
Change in net assets resulting from Class R6 capital transactions | 88,233 | 357,443 | 83,332 | 176,979 |
Total change in net assets resulting from capital transactions | $71,794 | $374,613 | $72,188 | $185,399 |
SHARE TRANSACTIONS: | ||||
Class I | ||||
Issued | 23 | 39 | 20 | 37 |
Reinvested | 7 | 2 | 5 | 1 |
Redeemed | (79) | (31) | (42) | (16) |
Change in Class I Shares | (49) | 10 | (17) | 22 |
128 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R2 | ||||
Issued | 1 | 4 | 1 | 5 |
Reinvested | — | —(a) | — | —(a) |
Redeemed | (1) | (4) | (1) | (6) |
Change in Class R2 Shares | — | —(a) | — | (1) |
Class R3 | ||||
Issued | 118 | 207 | 54 | 154 |
Reinvested | 16 | 5 | 4 | 2 |
Redeemed | (200) | (81) | (144) | (58) |
Change in Class R3 Shares | (66) | 131 | (86) | 98 |
Class R4 | ||||
Issued | 240 | 671 | 187 | 318 |
Reinvested | 40 | 7 | 20 | 4 |
Redeemed | (131) | (110) | (104) | (57) |
Change in Class R4 Shares | 149 | 568 | 103 | 265 |
Class R5 | ||||
Issued | 263 | 347 | 216 | 314 |
Reinvested | 40 | 22 | 32 | 16 |
Redeemed | (858) | (520) | (601) | (435) |
Change in Class R5 Shares | (555) | (151) | (353) | (105) |
Class R6 | ||||
Issued | 11,646 | 23,221 | 8,065 | 12,900 |
Reinvested | 1,802 | 641 | 985 | 331 |
Redeemed | (10,280) | (10,702) | (6,110) | (6,683) |
Change in Class R6 Shares | 3,168 | 13,160 | 2,940 | 6,548 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 129 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan SmartRetirement® Blend 2060 Fund | ||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||
Class I | ||
Proceeds from shares issued | $9,420 | $252 |
Distributions reinvested | 24 | 6 |
Cost of shares redeemed | (301) | (72) |
Change in net assets resulting from Class I capital transactions | 9,143 | 186 |
Class R2 | ||
Proceeds from shares issued | 10 | 8 |
Distributions reinvested | 1 | —(a) |
Cost of shares redeemed | (16) | (9) |
Change in net assets resulting from Class R2 capital transactions | (5) | (1) |
Class R3 | ||
Proceeds from shares issued | 1,083 | 1,541 |
Distributions reinvested | 80 | 26 |
Cost of shares redeemed | (1,243) | (725) |
Change in net assets resulting from Class R3 capital transactions | (80) | 842 |
Class R4 | ||
Proceeds from shares issued | 2,290 | 238 |
Distributions reinvested | 28 | 4 |
Cost of shares redeemed | (282) | (224) |
Change in net assets resulting from Class R4 capital transactions | 2,036 | 18 |
Class R5 | ||
Proceeds from shares issued | 2,708 | 3,590 |
Distributions reinvested | 257 | 98 |
Cost of shares redeemed | (6,399) | (1,830) |
Change in net assets resulting from Class R5 capital transactions | (3,434) | 1,858 |
Class R6 | ||
Proceeds from shares issued | 132,073 | 132,210 |
Distributions reinvested | 8,224 | 2,501 |
Cost of shares redeemed | (58,995) | (53,808) |
Change in net assets resulting from Class R6 capital transactions | 81,302 | 80,903 |
Total change in net assets resulting from capital transactions | $88,962 | $83,806 |
SHARE TRANSACTIONS: | ||
Class I | ||
Issued | 466 | 12 |
Reinvested | 1 | —(a) |
Redeemed | (13) | (3) |
Change in Class I Shares | 454 | 9 |
130 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2060 Fund | ||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||
Class R2 | ||
Issued | — | —(a) |
Reinvested | — | —(a) |
Redeemed | (1) | —(a) |
Change in Class R2 Shares | (1) | —(a) |
Class R3 | ||
Issued | 47 | 71 |
Reinvested | 4 | 1 |
Redeemed | (53) | (32) |
Change in Class R3 Shares | (2) | 40 |
Class R4 | ||
Issued | 99 | 12 |
Reinvested | 1 | —(a) |
Redeemed | (12) | (12) |
Change in Class R4 Shares | 88 | —(a) |
Class R5 | ||
Issued | 120 | 169 |
Reinvested | 10 | 5 |
Redeemed | (275) | (87) |
Change in Class R5 Shares | (145) | 87 |
Class R6 | ||
Issued | 5,858 | 6,189 |
Reinvested | 344 | 114 |
Redeemed | (2,568) | (2,488) |
Change in Class R6 Shares | 3,634 | 3,815 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 131 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend Income Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $19.48 | $0.38 | $(2.66) | $(2.28) | $(0.23) | $(0.55) | $(0.78) |
Year Ended June 30, 2021 | 17.65 | 0.33 | 2.28 | 2.61 | (0.34) | (0.44) | (0.78) |
Year Ended June 30, 2020 | 17.52 | 0.42 | 0.13 | 0.55 | (0.42) | — | (0.42) |
Year Ended June 30, 2019 | 17.53 | 0.45 | 0.49 | 0.94 | (0.45) | (0.50) | (0.95) |
Year Ended June 30, 2018 | 17.25 | 0.42 | 0.29 | 0.71 | (0.43) | — | (0.43) |
Class R2 | |||||||
Year Ended June 30, 2022 | 19.47 | 0.26 | (2.64) | (2.38) | (0.13) | (0.55) | (0.68) |
Year Ended June 30, 2021 | 17.64 | 0.24 | 2.28 | 2.52 | (0.25) | (0.44) | (0.69) |
Year Ended June 30, 2020 | 17.51 | 0.34 | 0.12 | 0.46 | (0.33) | — | (0.33) |
Year Ended June 30, 2019 | 17.53 | 0.39 | 0.46 | 0.85 | (0.37) | (0.50) | (0.87) |
Year Ended June 30, 2018 | 17.25 | 0.34 | 0.28 | 0.62 | (0.34) | — | (0.34) |
Class R3 | |||||||
Year Ended June 30, 2022 | 19.47 | 0.34 | (2.67) | (2.33) | (0.20) | (0.55) | (0.75) |
Year Ended June 30, 2021 | 17.64 | 0.28 | 2.28 | 2.56 | (0.29) | (0.44) | (0.73) |
Year Ended June 30, 2020 | 17.52 | 0.35 | 0.15 | 0.50 | (0.38) | — | (0.38) |
Year Ended June 30, 2019 | 17.54 | 0.43 | 0.46 | 0.89 | (0.41) | (0.50) | (0.91) |
Year Ended June 30, 2018 | 17.24 | 0.31 | 0.35 | 0.66 | (0.36) | — | (0.36) |
Class R4 | |||||||
Year Ended June 30, 2022 | 19.48 | 0.39 | (2.68) | (2.29) | (0.23) | (0.55) | (0.78) |
Year Ended June 30, 2021 | 17.65 | 0.47 | 2.15 | 2.62 | (0.35) | (0.44) | (0.79) |
Year Ended June 30, 2020 | 17.52 | 0.42 | 0.13 | 0.55 | (0.42) | — | (0.42) |
Year Ended June 30, 2019 | 17.52 | 0.49 | 0.45 | 0.94 | (0.44) | (0.50) | (0.94) |
Year Ended June 30, 2018 | 17.24 | 0.46 | 0.25 | 0.71 | (0.43) | — | (0.43) |
Class R5 | |||||||
Year Ended June 30, 2022 | 19.48 | 0.41 | (2.68) | (2.27) | (0.24) | (0.55) | (0.79) |
Year Ended June 30, 2021 | 17.64 | 0.35 | 2.30 | 2.65 | (0.37) | (0.44) | (0.81) |
Year Ended June 30, 2020 | 17.51 | 0.45 | 0.13 | 0.58 | (0.45) | — | (0.45) |
Year Ended June 30, 2019 | 17.53 | 0.50 | 0.46 | 0.96 | (0.48) | (0.50) | (0.98) |
Year Ended June 30, 2018 | 17.26 | 0.50 | 0.23 | 0.73 | (0.46) | — | (0.46) |
Class R6 | |||||||
Year Ended June 30, 2022 | 19.49 | 0.43 | (2.68) | (2.25) | (0.25) | (0.55) | (0.80) |
Year Ended June 30, 2021 | 17.65 | 0.39 | 2.28 | 2.67 | (0.39) | (0.44) | (0.83) |
Year Ended June 30, 2020 | 17.52 | 0.47 | 0.13 | 0.60 | (0.47) | — | (0.47) |
Year Ended June 30, 2019 | 17.54 | 0.52 | 0.46 | 0.98 | (0.50) | (0.50) | (1.00) |
Year Ended June 30, 2018 | 17.26 | 0.48 | 0.27 | 0.75 | (0.47) | — | (0.47) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
132 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$16.42 | (12.25)% | $3,519 | 0.27% | 2.05% | 0.50% | 54% |
19.48 | 14.98 | 6,243 | 0.27 | 1.75 | 0.56 | 116 |
17.65 | 3.19 | 5,745 | 0.28 | 2.41 | 0.66 | 66 |
17.52 | 5.67 | 7,450 | 0.27 | 2.62 | 0.65 | 57 |
17.53 | 4.09 | 13,663 | 0.28 | 2.37 | 0.70 | 51 |
16.41 | (12.71) | 17 | 0.78 | 1.37 | 1.03 | 54 |
19.47 | 14.42 | 56 | 0.77 | 1.25 | 1.06 | 116 |
17.64 | 2.68 | 49 | 0.78 | 1.93 | 2.67 | 66 |
17.51 | 5.13 | 48 | 0.77 | 2.28 | 1.16 | 57 |
17.53 | 3.57 | 46 | 0.78 | 1.90 | 1.47 | 51 |
16.39 | (12.48) | 5,767 | 0.53 | 1.79 | 0.76 | 54 |
19.47 | 14.71 | 9,146 | 0.52 | 1.51 | 0.79 | 116 |
17.64 | 2.91 | 6,778 | 0.53 | 2.01 | 0.87 | 66 |
17.52 | 5.38 | 566 | 0.52 | 2.51 | 0.91 | 57 |
17.54 | 3.81 | 598 | 0.52 | 1.72 | 0.92 | 51 |
16.41 | (12.30) | 13,606 | 0.28 | 2.09 | 0.51 | 54 |
19.48 | 15.01 | 13,511 | 0.27 | 2.47 | 0.54 | 116 |
17.65 | 3.18 | 1,705 | 0.28 | 2.40 | 0.63 | 66 |
17.52 | 5.66 | 2,290 | 0.27 | 2.86 | 0.65 | 57 |
17.52 | 4.10 | 4,716 | 0.28 | 2.61 | 0.67 | 51 |
16.42 | (12.18) | 14,108 | 0.13 | 2.19 | 0.36 | 54 |
19.48 | 15.21 | 21,633 | 0.12 | 1.88 | 0.40 | 116 |
17.64 | 3.35 | 25,547 | 0.13 | 2.56 | 0.48 | 66 |
17.51 | 5.80 | 62,732 | 0.12 | 2.88 | 0.50 | 57 |
17.53 | 4.21 | 83,274 | 0.13 | 2.80 | 0.53 | 51 |
16.44 | (12.07) | 538,482 | 0.03 | 2.30 | 0.26 | 54 |
19.49 | 15.32 | 712,820 | 0.02 | 2.04 | 0.29 | 116 |
17.65 | 3.46 | 450,928 | 0.03 | 2.69 | 0.38 | 66 |
17.52 | 5.90 | 351,885 | 0.02 | 3.00 | 0.40 | 57 |
17.54 | 4.35 | 284,279 | 0.03 | 2.71 | 0.44 | 51 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 133 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpendingSM 2015 Fund) | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $16.67 | $0.32 | $(2.23) | $(1.91) | $(0.32) | $(0.63) | $(0.95) |
Year Ended June 30, 2021 | 14.75 | 0.28 | 1.96 | 2.24 | (0.32) | — | (0.32) |
Year Ended June 30, 2020 | 15.99 | 0.38 | (0.67) | (0.29) | (0.45) | (0.50) | (0.95) |
Year Ended June 30, 2019 | 15.87 | 0.44 | 0.42 | 0.86 | (0.43) | (0.31) | (0.74) |
Year Ended June 30, 2018 | 15.66 | 0.39 | 0.25 | 0.64 | (0.26) | (0.17) | (0.43) |
Class R2 | |||||||
Year Ended June 30, 2022 | 16.61 | 0.24 | (2.22) | (1.98) | (0.24) | (0.63) | (0.87) |
Year Ended June 30, 2021 | 14.70 | 0.20 | 1.95 | 2.15 | (0.24) | — | (0.24) |
Year Ended June 30, 2020 | 15.94 | 0.28 | (0.67) | (0.39) | (0.35) | (0.50) | (0.85) |
Year Ended June 30, 2019 | 15.83 | 0.33 | 0.42 | 0.75 | (0.33) | (0.31) | (0.64) |
Year Ended June 30, 2018 | 15.66 | 0.29 | 0.25 | 0.54 | (0.20) | (0.17) | (0.37) |
Class R3 | |||||||
Year Ended June 30, 2022 | 16.64 | 0.28 | (2.23) | (1.95) | (0.28) | (0.63) | (0.91) |
Year Ended June 30, 2021 | 14.72 | 0.24 | 1.95 | 2.19 | (0.27) | — | (0.27) |
Year Ended June 30, 2020 | 15.96 | 0.32 | (0.67) | (0.35) | (0.39) | (0.50) | (0.89) |
Year Ended June 30, 2019 | 15.85 | 0.37 | 0.42 | 0.79 | (0.37) | (0.31) | (0.68) |
Year Ended June 30, 2018 | 15.66 | 0.33 | 0.25 | 0.58 | (0.22) | (0.17) | (0.39) |
Class R4 | |||||||
Year Ended June 30, 2022 | 16.67 | 0.32 | (2.23) | (1.91) | (0.32) | (0.63) | (0.95) |
Year Ended June 30, 2021 | 14.75 | 0.28 | 1.95 | 2.23 | (0.31) | — | (0.31) |
Year Ended June 30, 2020 | 15.98 | 0.36 | (0.66) | (0.30) | (0.43) | (0.50) | (0.93) |
Year Ended June 30, 2019 | 15.86 | 0.41 | 0.43 | 0.84 | (0.41) | (0.31) | (0.72) |
Year Ended June 30, 2018 | 15.66 | 0.37 | 0.25 | 0.62 | (0.25) | (0.17) | (0.42) |
Class R5 | |||||||
Year Ended June 30, 2022 | 16.68 | 0.34 | (2.22) | (1.88) | (0.35) | (0.63) | (0.98) |
Year Ended June 30, 2021 | 14.76 | 0.30 | 1.95 | 2.25 | (0.33) | — | (0.33) |
Year Ended June 30, 2020 | 15.99 | 0.38 | (0.66) | (0.28) | (0.45) | (0.50) | (0.95) |
Year Ended June 30, 2019 | 15.87 | 0.44 | 0.42 | 0.86 | (0.43) | (0.31) | (0.74) |
Year Ended June 30, 2018 | 15.66 | 0.39 | 0.25 | 0.64 | (0.26) | (0.17) | (0.43) |
Class R6 | |||||||
Year Ended June 30, 2022 | 16.69 | 0.37 | (2.24) | (1.87) | (0.36) | (0.63) | (0.99) |
Year Ended June 30, 2021 | 14.77 | 0.32 | 1.95 | 2.27 | (0.35) | — | (0.35) |
Year Ended June 30, 2020 | 16.00 | 0.40 | (0.66) | (0.26) | (0.47) | (0.50) | (0.97) |
Year Ended June 30, 2019 | 15.88 | 0.45 | 0.42 | 0.87 | (0.44) | (0.31) | (0.75) |
Year Ended June 30, 2018 | 15.66 | 0.41 | 0.25 | 0.66 | (0.27) | (0.17) | (0.44) |
(a) | Calculated based upon average shares outstanding. |
(b) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
(f) | Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
134 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(b) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$13.81 | (12.22)% | $25,557 | 0.28% | 2.00% | 1.14% | 58% |
16.67 | 15.28 | 30,778 | 0.27 | 1.76 | 1.26 | 107 |
14.75 | (2.06) | 28,222 | 0.22 | 2.46 | 1.41 | 125 |
15.99 | 5.75 | 30,411 | 0.19 | 2.79 | 1.44 | 50 |
15.87 | 4.12 | 30,323 | 0.19(f) | 2.46(f) | 1.36(f) | 30 |
13.76 | (12.62) | 22 | 0.77 | 1.51 | 1.65 | 58 |
16.61 | 14.67 | 26 | 0.78 | 1.25 | 1.82 | 107 |
14.70 | (2.68) | 22 | 0.85 | 1.83 | 2.08 | 125 |
15.94 | 5.05 | 23 | 0.85 | 2.13 | 1.97 | 50 |
15.83 | 3.46 | 21 | 0.85(f) | 1.80(f) | 2.00(f) | 30 |
13.78 | (12.45) | 23 | 0.53 | 1.75 | 1.41 | 58 |
16.64 | 14.98 | 26 | 0.53 | 1.50 | 2.01 | 107 |
14.72 | (2.45) | 22 | 0.60 | 2.08 | 4.58 | 125 |
15.96 | 5.29 | 23 | 0.60 | 2.38 | 1.72 | 50 |
15.85 | 3.74 | 22 | 0.60(f) | 2.05(f) | 1.75(f) | 30 |
13.81 | (12.21) | 23 | 0.28 | 2.00 | 1.15 | 58 |
16.67 | 15.22 | 26 | 0.28 | 1.75 | 1.54 | 107 |
14.75 | (2.14) | 23 | 0.35 | 2.33 | 3.05 | 125 |
15.98 | 5.60 | 23 | 0.35 | 2.63 | 1.47 | 50 |
15.86 | 3.96 | 22 | 0.35(f) | 2.30(f) | 1.50(f) | 30 |
13.82 | (12.08) | 23 | 0.12 | 2.16 | 1.00 | 58 |
16.68 | 15.37 | 26 | 0.13 | 1.90 | 1.75 | 107 |
14.76 | (2.00) | 23 | 0.20 | 2.48 | 5.06 | 125 |
15.99 | 5.74 | 23 | 0.20 | 2.78 | 1.32 | 50 |
15.87 | 4.11 | 22 | 0.21(f) | 2.44(f) | 1.36(f) | 30 |
13.83 | (11.99) | 956 | 0.02 | 2.51 | 0.88 | 58 |
16.69 | 15.47 | 26 | 0.04 | 2.00 | 1.09 | 107 |
14.77 | (1.91) | 23 | 0.10 | 2.58 | 1.21 | 125 |
16.00 | 5.84 | 23 | 0.10 | 2.88 | 1.23 | 50 |
15.88 | 4.24 | 22 | 0.10(f) | 2.55(f) | 1.25(f) | 30 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 135 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2020 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $21.93 | $0.43 | $(2.98) | $(2.55) | $(0.26) | $(0.80) | $(1.06) |
Year Ended June 30, 2021 | 19.70 | 0.37 | 2.71 | 3.08 | (0.38) | (0.47) | (0.85) |
Year Ended June 30, 2020 | 19.53 | 0.47 | 0.19 | 0.66 | (0.47) | (0.02) | (0.49) |
Year Ended June 30, 2019 | 19.63 | 0.50 | 0.53 | 1.03 | (0.51) | (0.62) | (1.13) |
Year Ended June 30, 2018 | 19.09 | 0.48 | 0.53 | 1.01 | (0.47) | — | (0.47) |
Class R2 | |||||||
Year Ended June 30, 2022 | 21.96 | 0.32 | (2.97) | (2.65) | (0.19) | (0.80) | (0.99) |
Year Ended June 30, 2021 | 19.74 | 0.27 | 2.70 | 2.97 | (0.28) | (0.47) | (0.75) |
Year Ended June 30, 2020 | 19.52 | 0.32 | 0.25 | 0.57 | (0.33) | (0.02) | (0.35) |
Year Ended June 30, 2019 | 19.64 | 0.46 | 0.47 | 0.93 | (0.43) | (0.62) | (1.05) |
Year Ended June 30, 2018 | 19.10 | 0.38 | 0.54 | 0.92 | (0.38) | — | (0.38) |
Class R3 | |||||||
Year Ended June 30, 2022 | 21.90 | 0.38 | (2.98) | (2.60) | (0.23) | (0.80) | (1.03) |
Year Ended June 30, 2021 | 19.68 | 0.32 | 2.70 | 3.02 | (0.33) | (0.47) | (0.80) |
Year Ended June 30, 2020 | 19.51 | 0.41 | 0.20 | 0.61 | (0.42) | (0.02) | (0.44) |
Year Ended June 30, 2019 | 19.62 | 0.58 | 0.40 | 0.98 | (0.47) | (0.62) | (1.09) |
Year Ended June 30, 2018 | 19.08 | 0.45 | 0.52 | 0.97 | (0.43) | — | (0.43) |
Class R4 | |||||||
Year Ended June 30, 2022 | 21.94 | 0.43 | (2.97) | (2.54) | (0.26) | (0.80) | (1.06) |
Year Ended June 30, 2021 | 19.72 | 0.45 | 2.63 | 3.08 | (0.39) | (0.47) | (0.86) |
Year Ended June 30, 2020 | 19.55 | 0.47 | 0.19 | 0.66 | (0.47) | (0.02) | (0.49) |
Year Ended June 30, 2019 | 19.62 | 0.56 | 0.47 | 1.03 | (0.48) | (0.62) | (1.10) |
Year Ended June 30, 2018 | 19.08 | 0.53 | 0.49 | 1.02 | (0.48) | — | (0.48) |
Class R5 | |||||||
Year Ended June 30, 2022 | 21.94 | 0.46 | (2.99) | (2.53) | (0.27) | (0.80) | (1.07) |
Year Ended June 30, 2021 | 19.71 | 0.40 | 2.72 | 3.12 | (0.42) | (0.47) | (0.89) |
Year Ended June 30, 2020 | 19.54 | 0.50 | 0.19 | 0.69 | (0.50) | (0.02) | (0.52) |
Year Ended June 30, 2019 | 19.64 | 0.55 | 0.51 | 1.06 | (0.54) | (0.62) | (1.16) |
Year Ended June 30, 2018 | 19.10 | 0.58 | 0.47 | 1.05 | (0.51) | — | (0.51) |
Class R6 | |||||||
Year Ended June 30, 2022 | 21.94 | 0.48 | (2.99) | (2.51) | (0.28) | (0.80) | (1.08) |
Year Ended June 30, 2021 | 19.72 | 0.44 | 2.69 | 3.13 | (0.44) | (0.47) | (0.91) |
Year Ended June 30, 2020 | 19.55 | 0.53 | 0.18 | 0.71 | (0.52) | (0.02) | (0.54) |
Year Ended June 30, 2019 | 19.64 | 0.58 | 0.51 | 1.09 | (0.56) | (0.62) | (1.18) |
Year Ended June 30, 2018 | 19.10 | 0.54 | 0.52 | 1.06 | (0.52) | — | (0.52) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
136 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$18.32 | (12.31)% | $5,098 | 0.28% | 2.04% | 0.50% | 56% |
21.93 | 15.85 | 10,270 | 0.27 | 1.73 | 0.53 | 127 |
19.70 | 3.43 | 12,068 | 0.27 | 2.38 | 0.61 | 58 |
19.53 | 5.66 | 17,098 | 0.28 | 2.61 | 0.62 | 33 |
19.63 | 5.32 | 26,229 | 0.30 | 2.41 | 0.64 | 55 |
18.32 | (12.71) | 17 | 0.78 | 1.50 | 1.03 | 56 |
21.96 | 15.21 | 29 | 0.77 | 1.25 | 1.06 | 127 |
19.74 | 2.95 | 26 | 0.77 | 1.64 | 1.48 | 58 |
19.52 | 5.12 | 71 | 0.78 | 2.40 | 1.19 | 33 |
19.64 | 4.79 | 24 | 0.80 | 1.90 | 1.42 | 55 |
18.27 | (12.53) | 21,581 | 0.53 | 1.79 | 0.75 | 56 |
21.90 | 15.53 | 38,449 | 0.52 | 1.50 | 0.78 | 127 |
19.68 | 3.17 | 36,312 | 0.52 | 2.12 | 0.86 | 58 |
19.51 | 5.42 | 30,988 | 0.52 | 3.03 | 0.87 | 33 |
19.62 | 5.07 | 2,387 | 0.53 | 2.23 | 0.89 | 55 |
18.34 | (12.25) | 15,172 | 0.28 | 2.08 | 0.50 | 56 |
21.94 | 15.80 | 16,644 | 0.27 | 2.14 | 0.54 | 127 |
19.72 | 3.44 | 5,461 | 0.27 | 2.41 | 0.61 | 58 |
19.55 | 5.67 | 4,631 | 0.28 | 2.88 | 0.63 | 33 |
19.62 | 5.32 | 10,857 | 0.29 | 2.66 | 0.64 | 55 |
18.34 | (12.19) | 18,776 | 0.13 | 2.18 | 0.35 | 56 |
21.94 | 16.01 | 34,438 | 0.12 | 1.88 | 0.38 | 127 |
19.71 | 3.58 | 41,625 | 0.12 | 2.53 | 0.46 | 58 |
19.54 | 5.83 | 182,770 | 0.13 | 2.84 | 0.47 | 33 |
19.64 | 5.49 | 214,924 | 0.14 | 2.95 | 0.49 | 55 |
18.35 | (12.10) | 978,258 | 0.03 | 2.31 | 0.25 | 56 |
21.94 | 16.07 | 1,360,729 | 0.02 | 2.05 | 0.27 | 127 |
19.72 | 3.70 | 852,403 | 0.02 | 2.68 | 0.36 | 58 |
19.55 | 5.99 | 618,142 | 0.03 | 2.99 | 0.37 | 33 |
19.64 | 5.57 | 492,601 | 0.05 | 2.74 | 0.39 | 55 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 137 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2025 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $24.44 | $0.47 | $(3.61) | $(3.14) | $(0.30) | $(0.74) | $(1.04) |
Year Ended June 30, 2021 | 20.88 | 0.39 | 3.98 | 4.37 | (0.40) | (0.41) | (0.81) |
Year Ended June 30, 2020 | 20.85 | 0.45 | 0.10 | 0.55 | (0.44) | (0.08) | (0.52) |
Year Ended June 30, 2019 | 20.77 | 0.51 | 0.63 | 1.14 | (0.51) | (0.55) | (1.06) |
Year Ended June 30, 2018 | 20.00 | 0.47 | 0.78 | 1.25 | (0.48) | — | (0.48) |
Class R2 | |||||||
Year Ended June 30, 2022 | 24.43 | 0.36 | (3.62) | (3.26) | (0.24) | (0.74) | (0.98) |
Year Ended June 30, 2021 | 20.88 | 0.27 | 3.97 | 4.24 | (0.28) | (0.41) | (0.69) |
Year Ended June 30, 2020 | 20.84 | 0.34 | 0.12 | 0.46 | (0.34) | (0.08) | (0.42) |
Year Ended June 30, 2019 | 20.76 | 0.43 | 0.62 | 1.05 | (0.42) | (0.55) | (0.97) |
Year Ended June 30, 2018 | 20.00 | 0.43 | 0.71 | 1.14 | (0.38) | — | (0.38) |
Class R3 | |||||||
Year Ended June 30, 2022 | 24.40 | 0.41 | (3.60) | (3.19) | (0.27) | (0.74) | (1.01) |
Year Ended June 30, 2021 | 20.86 | 0.33 | 3.96 | 4.29 | (0.34) | (0.41) | (0.75) |
Year Ended June 30, 2020 | 20.82 | 0.38 | 0.13 | 0.51 | (0.39) | (0.08) | (0.47) |
Year Ended June 30, 2019 | 20.75 | 0.61 | 0.48 | 1.09 | (0.47) | (0.55) | (1.02) |
Year Ended June 30, 2018 | 20.00 | 0.46 | 0.73 | 1.19 | (0.44) | — | (0.44) |
Class R4 | |||||||
Year Ended June 30, 2022 | 24.46 | 0.48 | (3.62) | (3.14) | (0.30) | (0.74) | (1.04) |
Year Ended June 30, 2021 | 20.91 | 0.48 | 3.88 | 4.36 | (0.40) | (0.41) | (0.81) |
Year Ended June 30, 2020 | 20.87 | 0.45 | 0.11 | 0.56 | (0.44) | (0.08) | (0.52) |
Year Ended June 30, 2019 | 20.76 | 0.55 | 0.60 | 1.15 | (0.49) | (0.55) | (1.04) |
Year Ended June 30, 2018 | 20.00 | 0.53 | 0.72 | 1.25 | (0.49) | — | (0.49) |
Class R5 | |||||||
Year Ended June 30, 2022 | 24.45 | 0.51 | (3.62) | (3.11) | (0.32) | (0.74) | (1.06) |
Year Ended June 30, 2021 | 20.89 | 0.41 | 3.99 | 4.40 | (0.43) | (0.41) | (0.84) |
Year Ended June 30, 2020 | 20.86 | 0.48 | 0.10 | 0.58 | (0.47) | (0.08) | (0.55) |
Year Ended June 30, 2019 | 20.78 | 0.56 | 0.61 | 1.17 | (0.54) | (0.55) | (1.09) |
Year Ended June 30, 2018 | 20.01 | 0.58 | 0.71 | 1.29 | (0.52) | — | (0.52) |
Class R6 | |||||||
Year Ended June 30, 2022 | 24.46 | 0.54 | (3.63) | (3.09) | (0.33) | (0.74) | (1.07) |
Year Ended June 30, 2021 | 20.90 | 0.46 | 3.96 | 4.42 | (0.45) | (0.41) | (0.86) |
Year Ended June 30, 2020 | 20.86 | 0.51 | 0.10 | 0.61 | (0.49) | (0.08) | (0.57) |
Year Ended June 30, 2019 | 20.78 | 0.59 | 0.61 | 1.20 | (0.57) | (0.55) | (1.12) |
Year Ended June 30, 2018 | 20.01 | 0.56 | 0.75 | 1.31 | (0.54) | — | (0.54) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
138 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$20.26 | (13.48)% | $12,346 | 0.30% | 2.01% | 0.50% | 50% |
24.44 | 21.19 | 22,423 | 0.29 | 1.67 | 0.53 | 107 |
20.88 | 2.67 | 19,084 | 0.30 | 2.15 | 0.61 | 61 |
20.85 | 5.89 | 18,384 | 0.29 | 2.52 | 0.62 | 25 |
20.77 | 6.27 | 23,668 | 0.31 | 2.27 | 0.64 | 57 |
20.19 | (13.95) | 1,103 | 0.80 | 1.56 | 1.00 | 50 |
24.43 | 20.54 | 1,230 | 0.79 | 1.18 | 1.03 | 107 |
20.88 | 2.21 | 980 | 0.80 | 1.64 | 1.12 | 61 |
20.84 | 5.38 | 958 | 0.79 | 2.10 | 1.12 | 25 |
20.76 | 5.72 | 816 | 0.80 | 2.02 | 1.14 | 57 |
20.20 | (13.70) | 29,917 | 0.55 | 1.76 | 0.75 | 50 |
24.40 | 20.82 | 47,880 | 0.54 | 1.43 | 0.78 | 107 |
20.86 | 2.46 | 35,243 | 0.55 | 1.83 | 0.86 | 61 |
20.82 | 5.64 | 23,836 | 0.54 | 3.01 | 0.87 | 25 |
20.75 | 5.94 | 1,925 | 0.54 | 2.20 | 0.87 | 57 |
20.28 | (13.47) | 30,405 | 0.30 | 2.07 | 0.49 | 50 |
24.46 | 21.14 | 32,349 | 0.29 | 2.07 | 0.53 | 107 |
20.91 | 2.71 | 7,401 | 0.30 | 2.13 | 0.61 | 61 |
20.87 | 5.90 | 7,896 | 0.29 | 2.71 | 0.62 | 25 |
20.76 | 6.23 | 18,420 | 0.30 | 2.54 | 0.63 | 57 |
20.28 | (13.37) | 43,290 | 0.15 | 2.18 | 0.34 | 50 |
24.45 | 21.35 | 72,428 | 0.14 | 1.79 | 0.38 | 107 |
20.89 | 2.82 | 78,200 | 0.15 | 2.29 | 0.46 | 61 |
20.86 | 6.05 | 196,513 | 0.14 | 2.74 | 0.47 | 25 |
20.78 | 6.45 | 197,524 | 0.16 | 2.76 | 0.48 | 57 |
20.30 | (13.28) | 1,718,926 | 0.05 | 2.31 | 0.24 | 50 |
24.46 | 21.46 | 2,118,605 | 0.04 | 1.99 | 0.27 | 107 |
20.90 | 2.98 | 1,146,307 | 0.05 | 2.43 | 0.36 | 61 |
20.86 | 6.15 | 865,881 | 0.04 | 2.88 | 0.37 | 25 |
20.78 | 6.54 | 627,031 | 0.06 | 2.67 | 0.38 | 57 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 139 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b)(c) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2030 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $26.66 | $0.50 | $(4.14) | $(3.64) | $(0.34) | $(0.82) | $(1.16) |
Year Ended June 30, 2021 | 21.81 | 0.40 | 5.12 | 5.52 | (0.41) | (0.26) | (0.67) |
Year Ended June 30, 2020 | 21.85 | 0.42 | 0.06 | 0.48 | (0.41) | (0.11) | (0.52) |
Year Ended June 30, 2019 | 21.89 | 0.50 | 0.66 | 1.16 | (0.51) | (0.69) | (1.20) |
Year Ended June 30, 2018 | 20.86 | 0.48 | 1.05 | 1.53 | (0.50) | — | (0.50) |
Class R2 | |||||||
Year Ended June 30, 2022 | 26.76 | 0.44 | (4.22) | (3.78) | (0.26) | (0.82) | (1.08) |
Year Ended June 30, 2021 | 21.87 | 0.27 | 5.14 | 5.41 | (0.26) | (0.26) | (0.52) |
Year Ended June 30, 2020 | 21.86 | 0.07 | 0.30 | 0.37 | (0.25) | (0.11) | (0.36) |
Year Ended June 30, 2019 | 21.90 | 0.41 | 0.64 | 1.05 | (0.40) | (0.69) | (1.09) |
Year Ended June 30, 2018 | 20.87 | 0.37 | 1.05 | 1.42 | (0.39) | — | (0.39) |
Class R3 | |||||||
Year Ended June 30, 2022 | 26.59 | 0.44 | (4.13) | (3.69) | (0.31) | (0.82) | (1.13) |
Year Ended June 30, 2021 | 21.75 | 0.34 | 5.10 | 5.44 | (0.34) | (0.26) | (0.60) |
Year Ended June 30, 2020 | 21.81 | 0.35 | 0.07 | 0.42 | (0.37) | (0.11) | (0.48) |
Year Ended June 30, 2019 | 21.87 | 0.58 | 0.52 | 1.10 | (0.47) | (0.69) | (1.16) |
Year Ended June 30, 2018 | 20.85 | 0.50 | 0.97 | 1.47 | (0.45) | — | (0.45) |
Class R4 | |||||||
Year Ended June 30, 2022 | 26.67 | 0.51 | (4.15) | (3.64) | (0.34) | (0.82) | (1.16) |
Year Ended June 30, 2021 | 21.82 | 0.51 | 5.01 | 5.52 | (0.41) | (0.26) | (0.67) |
Year Ended June 30, 2020 | 21.88 | 0.42 | 0.05 | 0.47 | (0.42) | (0.11) | (0.53) |
Year Ended June 30, 2019 | 21.88 | 0.56 | 0.60 | 1.16 | (0.47) | (0.69) | (1.16) |
Year Ended June 30, 2018 | 20.85 | 0.53 | 1.00 | 1.53 | (0.50) | — | (0.50) |
Class R5 | |||||||
Year Ended June 30, 2022 | 26.66 | 0.54 | (4.15) | (3.61) | (0.36) | (0.82) | (1.18) |
Year Ended June 30, 2021 | 21.80 | 0.42 | 5.14 | 5.56 | (0.44) | (0.26) | (0.70) |
Year Ended June 30, 2020 | 21.86 | 0.46 | 0.04 | 0.50 | (0.45) | (0.11) | (0.56) |
Year Ended June 30, 2019 | 21.90 | 0.55 | 0.64 | 1.19 | (0.54) | (0.69) | (1.23) |
Year Ended June 30, 2018 | 20.87 | 0.60 | 0.96 | 1.56 | (0.53) | — | (0.53) |
Class R6 | |||||||
Year Ended June 30, 2022 | 26.67 | 0.58 | (4.15) | (3.57) | (0.38) | (0.82) | (1.20) |
Year Ended June 30, 2021 | 21.81 | 0.48 | 5.11 | 5.59 | (0.47) | (0.26) | (0.73) |
Year Ended June 30, 2020 | 21.87 | 0.48 | 0.05 | 0.53 | (0.48) | (0.11) | (0.59) |
Year Ended June 30, 2019 | 21.91 | 0.59 | 0.62 | 1.21 | (0.56) | (0.69) | (1.25) |
Year Ended June 30, 2018 | 20.88 | 0.57 | 1.01 | 1.58 | (0.55) | — | (0.55) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Calculated based upon average number of units outstanding. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Does not include expenses of Underlying Funds. |
140 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(d) | Net assets, end of period (000's) | Net expenses(e)(f) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(f) | Portfolio turnover rate |
$21.86 | (14.35)% | $13,080 | 0.32% | 1.95% | 0.49% | 49% |
26.66 | 25.56 | 24,992 | 0.32 | 1.62 | 0.52 | 94 |
21.81 | 2.19 | 16,640 | 0.34 | 1.92 | 0.60 | 51 |
21.85 | 5.76 | 28,932 | 0.32 | 2.35 | 0.62 | 17 |
21.89 | 7.32 | 32,534 | 0.33 | 2.17 | 0.64 | 54 |
21.90 | (14.78) | 140 | 0.82 | 1.79 | 1.01 | 49 |
26.76 | 24.95 | 44 | 0.82 | 1.10 | 1.05 | 94 |
21.87 | 1.64 | 37 | 0.83 | 0.30 | 1.21 | 51 |
21.86 | 5.24 | 591 | 0.82 | 1.93 | 1.13 | 17 |
21.90 | 6.78 | 25 | 0.83 | 1.66 | 1.39 | 54 |
21.77 | (14.58) | 44,192 | 0.57 | 1.73 | 0.74 | 49 |
26.59 | 25.27 | 64,653 | 0.57 | 1.36 | 0.77 | 94 |
21.75 | 1.89 | 49,156 | 0.59 | 1.62 | 0.85 | 51 |
21.81 | 5.50 | 26,950 | 0.57 | 2.73 | 0.87 | 17 |
21.87 | 7.05 | 5,862 | 0.57 | 2.26 | 0.88 | 54 |
21.87 | (14.35) | 39,828 | 0.32 | 2.02 | 0.49 | 49 |
26.67 | 25.57 | 42,877 | 0.32 | 2.04 | 0.52 | 94 |
21.82 | 2.14 | 9,940 | 0.34 | 1.93 | 0.60 | 51 |
21.88 | 5.75 | 9,072 | 0.32 | 2.62 | 0.62 | 17 |
21.88 | 7.33 | 26,233 | 0.33 | 2.39 | 0.63 | 54 |
21.87 | (14.25) | 44,084 | 0.17 | 2.09 | 0.34 | 49 |
26.66 | 25.79 | 87,630 | 0.17 | 1.72 | 0.37 | 94 |
21.80 | 2.29 | 84,230 | 0.19 | 2.11 | 0.45 | 51 |
21.86 | 5.93 | 236,899 | 0.17 | 2.57 | 0.47 | 17 |
21.90 | 7.50 | 251,868 | 0.18 | 2.71 | 0.48 | 54 |
21.90 | (14.12) | 2,051,907 | 0.07 | 2.26 | 0.24 | 49 |
26.67 | 25.90 | 2,411,541 | 0.06 | 1.93 | 0.27 | 94 |
21.81 | 2.40 | 1,294,750 | 0.09 | 2.22 | 0.35 | 51 |
21.87 | 6.03 | 880,234 | 0.07 | 2.76 | 0.37 | 17 |
21.91 | 7.58 | 593,600 | 0.08 | 2.56 | 0.38 | 54 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 141 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2035 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $28.89 | $0.60 | $(4.64) | $(4.04) | $(0.42) | $(0.93) | $(1.35) |
Year Ended June 30, 2021 | 22.56 | 0.45 | 6.37 | 6.82 | (0.47) | (0.02) | (0.49) |
Year Ended June 30, 2020 | 22.80 | 0.40 | (0.13) | 0.27 | (0.41) | (0.10) | (0.51) |
Year Ended June 30, 2019 | 22.78 | 0.48 | 0.72 | 1.20 | (0.50) | (0.68) | (1.18) |
Year Ended June 30, 2018 | 21.54 | 0.48 | 1.26 | 1.74 | (0.50) | — | (0.50) |
Class R2 | |||||||
Year Ended June 30, 2022 | 28.90 | 0.20 | (4.42) | (4.22) | (0.05) | (0.93) | (0.98) |
Year Ended June 30, 2021 | 22.58 | 0.37 | 6.32 | 6.69 | (0.35) | (0.02) | (0.37) |
Year Ended June 30, 2020 | 22.78 | 0.22 | (0.07) | 0.15 | (0.25) | (0.10) | (0.35) |
Year Ended June 30, 2019 | 22.79 | 0.42 | 0.67 | 1.09 | (0.42) | (0.68) | (1.10) |
Year Ended June 30, 2018 | 21.55 | 0.36 | 1.27 | 1.63 | (0.39) | — | (0.39) |
Class R3 | |||||||
Year Ended June 30, 2022 | 28.84 | 0.51 | (4.61) | (4.10) | (0.38) | (0.93) | (1.31) |
Year Ended June 30, 2021 | 22.53 | 0.40 | 6.34 | 6.74 | (0.41) | (0.02) | (0.43) |
Year Ended June 30, 2020 | 22.77 | 0.33 | (0.12) | 0.21 | (0.35) | (0.10) | (0.45) |
Year Ended June 30, 2019 | 22.77 | 0.62 | 0.52 | 1.14 | (0.46) | (0.68) | (1.14) |
Year Ended June 30, 2018 | 21.54 | 0.44 | 1.24 | 1.68 | (0.45) | — | (0.45) |
Class R4 | |||||||
Year Ended June 30, 2022 | 28.91 | 0.59 | (4.63) | (4.04) | (0.42) | (0.93) | (1.35) |
Year Ended June 30, 2021 | 22.59 | 0.62 | 6.20 | 6.82 | (0.48) | (0.02) | (0.50) |
Year Ended June 30, 2020 | 22.83 | 0.41 | (0.14) | 0.27 | (0.41) | (0.10) | (0.51) |
Year Ended June 30, 2019 | 22.78 | 0.56 | 0.64 | 1.20 | (0.47) | (0.68) | (1.15) |
Year Ended June 30, 2018 | 21.54 | 0.54 | 1.20 | 1.74 | (0.50) | — | (0.50) |
Class R5 | |||||||
Year Ended June 30, 2022 | 28.91 | 0.61 | (4.61) | (4.00) | (0.44) | (0.93) | (1.37) |
Year Ended June 30, 2021 | 22.58 | 0.49 | 6.37 | 6.86 | (0.51) | (0.02) | (0.53) |
Year Ended June 30, 2020 | 22.82 | 0.46 | (0.16) | 0.30 | (0.44) | (0.10) | (0.54) |
Year Ended June 30, 2019 | 22.80 | 0.55 | 0.68 | 1.23 | (0.53) | (0.68) | (1.21) |
Year Ended June 30, 2018 | 21.56 | 0.60 | 1.18 | 1.78 | (0.54) | — | (0.54) |
Class R6 | |||||||
Year Ended June 30, 2022 | 28.92 | 0.66 | (4.65) | (3.99) | (0.45) | (0.93) | (1.38) |
Year Ended June 30, 2021 | 22.58 | 0.56 | 6.33 | 6.89 | (0.53) | (0.02) | (0.55) |
Year Ended June 30, 2020 | 22.82 | 0.48 | (0.15) | 0.33 | (0.47) | (0.10) | (0.57) |
Year Ended June 30, 2019 | 22.80 | 0.58 | 0.68 | 1.26 | (0.56) | (0.68) | (1.24) |
Year Ended June 30, 2018 | 21.56 | 0.57 | 1.23 | 1.80 | (0.56) | — | (0.56) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
142 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$23.50 | (14.78)% | $6,629 | 0.29% | 2.12% | 0.50% | 32% |
28.89 | 30.42 | 13,615 | 0.30 | 1.74 | 0.53 | 50 |
22.56 | 1.14 | 11,645 | 0.36 | 1.77 | 0.62 | 55 |
22.80 | 5.73 | 12,979 | 0.35 | 2.16 | 0.63 | 16 |
22.78 | 8.09 | 16,393 | 0.34 | 2.08 | 0.65 | 52 |
23.70 | (15.18) | 20 | 0.79 | 0.70 | 1.02 | 32 |
28.90 | 29.78 | 673 | 0.79 | 1.36 | 1.00 | 50 |
22.58 | 0.62 | 32 | 0.86 | 0.98 | 1.52 | 55 |
22.78 | 5.20 | 73 | 0.85 | 1.90 | 1.19 | 16 |
22.79 | 7.55 | 25 | 0.85 | 1.56 | 1.40 | 52 |
23.43 | (14.98) | 32,276 | 0.54 | 1.85 | 0.74 | 32 |
28.84 | 30.07 | 40,550 | 0.55 | 1.51 | 0.77 | 50 |
22.53 | 0.89 | 27,429 | 0.61 | 1.49 | 0.86 | 55 |
22.77 | 5.47 | 14,104 | 0.60 | 2.81 | 0.88 | 16 |
22.77 | 7.79 | 808 | 0.59 | 1.91 | 0.88 | 52 |
23.52 | (14.77) | 38,531 | 0.29 | 2.15 | 0.49 | 32 |
28.91 | 30.37 | 38,286 | 0.31 | 2.36 | 0.53 | 50 |
22.59 | 1.14 | 10,389 | 0.36 | 1.81 | 0.61 | 55 |
22.83 | 5.74 | 11,118 | 0.35 | 2.52 | 0.62 | 16 |
22.78 | 8.09 | 22,824 | 0.35 | 2.32 | 0.64 | 52 |
23.54 | (14.64) | 35,173 | 0.14 | 2.20 | 0.34 | 32 |
28.91 | 30.59 | 68,066 | 0.16 | 1.87 | 0.38 | 50 |
22.58 | 1.30 | 60,357 | 0.21 | 2.00 | 0.46 | 55 |
22.82 | 5.89 | 143,007 | 0.20 | 2.45 | 0.47 | 16 |
22.80 | 8.26 | 149,445 | 0.20 | 2.60 | 0.49 | 52 |
23.55 | (14.58) | 1,949,560 | 0.04 | 2.37 | 0.24 | 32 |
28.92 | 30.76 | 2,230,329 | 0.05 | 2.11 | 0.27 | 50 |
22.58 | 1.41 | 1,036,805 | 0.11 | 2.11 | 0.36 | 55 |
22.82 | 5.99 | 776,195 | 0.10 | 2.61 | 0.37 | 16 |
22.80 | 8.35 | 537,095 | 0.09 | 2.47 | 0.39 | 52 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 143 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2040 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $30.22 | $0.60 | $(4.96) | $(4.36) | $(0.44) | $(1.00) | $(1.44) |
Year Ended June 30, 2021 | 22.92 | 0.46 | 7.29 | 7.75 | (0.45) | — | (0.45) |
Year Ended June 30, 2020 | 23.27 | 0.38 | (0.25) | 0.13 | (0.37) | (0.11) | (0.48) |
Year Ended June 30, 2019 | 23.43 | 0.47 | 0.72 | 1.19 | (0.49) | (0.86) | (1.35) |
Year Ended June 30, 2018 | 21.99 | 0.47 | 1.48 | 1.95 | (0.51) | — | (0.51) |
Class R2 | |||||||
Year Ended June 30, 2022 | 30.25 | 0.40 | (4.91) | (4.51) | (0.34) | (1.00) | (1.34) |
Year Ended June 30, 2021 | 22.93 | 0.30 | 7.31 | 7.61 | (0.29) | — | (0.29) |
Year Ended June 30, 2020 | 23.25 | 0.14 | (0.13) | 0.01 | (0.22) | (0.11) | (0.33) |
Year Ended June 30, 2019 | 23.43 | 0.45 | 0.63 | 1.08 | (0.40) | (0.86) | (1.26) |
Year Ended June 30, 2018 | 21.99 | 0.35 | 1.48 | 1.83 | (0.39) | — | (0.39) |
Class R3 | |||||||
Year Ended June 30, 2022 | 30.13 | 0.52 | (4.93) | (4.41) | (0.40) | (1.00) | (1.40) |
Year Ended June 30, 2021 | 22.86 | 0.39 | 7.27 | 7.66 | (0.39) | — | (0.39) |
Year Ended June 30, 2020 | 23.24 | 0.29 | (0.23) | 0.06 | (0.33) | (0.11) | (0.44) |
Year Ended June 30, 2019 | 23.42 | 0.63 | 0.50 | 1.13 | (0.45) | (0.86) | (1.31) |
Year Ended June 30, 2018 | 21.98 | 0.43 | 1.46 | 1.89 | (0.45) | — | (0.45) |
Class R4 | |||||||
Year Ended June 30, 2022 | 30.21 | 0.60 | (4.96) | (4.36) | (0.44) | (1.00) | (1.44) |
Year Ended June 30, 2021 | 22.92 | 0.63 | 7.12 | 7.75 | (0.46) | — | (0.46) |
Year Ended June 30, 2020 | 23.29 | 0.38 | (0.26) | 0.12 | (0.38) | (0.11) | (0.49) |
Year Ended June 30, 2019 | 23.42 | 0.55 | 0.64 | 1.19 | (0.46) | (0.86) | (1.32) |
Year Ended June 30, 2018 | 21.98 | 0.54 | 1.41 | 1.95 | (0.51) | — | (0.51) |
Class R5 | |||||||
Year Ended June 30, 2022 | 30.21 | 0.64 | (4.95) | (4.31) | (0.46) | (1.00) | (1.46) |
Year Ended June 30, 2021 | 22.92 | 0.49 | 7.29 | 7.78 | (0.49) | — | (0.49) |
Year Ended June 30, 2020 | 23.28 | 0.43 | (0.26) | 0.17 | (0.42) | (0.11) | (0.53) |
Year Ended June 30, 2019 | 23.44 | 0.54 | 0.68 | 1.22 | (0.52) | (0.86) | (1.38) |
Year Ended June 30, 2018 | 22.00 | 0.62 | 1.37 | 1.99 | (0.55) | — | (0.55) |
Class R6 | |||||||
Year Ended June 30, 2022 | 30.21 | 0.67 | (4.95) | (4.28) | (0.48) | (1.00) | (1.48) |
Year Ended June 30, 2021 | 22.92 | 0.56 | 7.25 | 7.81 | (0.52) | — | (0.52) |
Year Ended June 30, 2020 | 23.29 | 0.44 | (0.26) | 0.18 | (0.44) | (0.11) | (0.55) |
Year Ended June 30, 2019 | 23.44 | 0.58 | 0.68 | 1.26 | (0.55) | (0.86) | (1.41) |
Year Ended June 30, 2018 | 22.00 | 0.56 | 1.45 | 2.01 | (0.57) | — | (0.57) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
144 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$24.42 | (15.25)% | $5,656 | 0.30% | 2.07% | 0.50% | 30% |
30.22 | 34.02 | 8,625 | 0.32 | 1.69 | 0.53 | 41 |
22.92 | 0.48 | 6,039 | 0.39 | 1.62 | 0.62 | 45 |
23.27 | 5.62 | 16,102 | 0.37 | 2.04 | 0.63 | 18 |
23.43 | 8.87 | 22,132 | 0.36 | 2.02 | 0.65 | 52 |
24.40 | (15.68) | 29 | 0.80 | 1.38 | 1.08 | 30 |
30.25 | 33.34 | 38 | 0.83 | 1.14 | 1.05 | 41 |
22.93 | (0.01) | 34 | 0.89 | 0.58 | 1.43 | 45 |
23.25 | 5.12 | 122 | 0.87 | 1.98 | 1.17 | 18 |
23.43 | 8.33 | 25 | 0.86 | 1.49 | 1.40 | 52 |
24.32 | (15.44) | 29,263 | 0.55 | 1.79 | 0.75 | 30 |
30.13 | 33.66 | 42,002 | 0.57 | 1.46 | 0.77 | 41 |
22.86 | 0.19 | 24,977 | 0.64 | 1.28 | 0.85 | 45 |
23.24 | 5.38 | 7,996 | 0.62 | 2.79 | 0.88 | 18 |
23.42 | 8.62 | 987 | 0.61 | 1.81 | 0.88 | 52 |
24.41 | (15.26) | 32,393 | 0.30 | 2.09 | 0.50 | 30 |
30.21 | 34.00 | 34,312 | 0.33 | 2.33 | 0.53 | 41 |
22.92 | 0.48 | 9,393 | 0.39 | 1.63 | 0.61 | 45 |
23.29 | 5.63 | 9,186 | 0.36 | 2.40 | 0.63 | 18 |
23.42 | 8.88 | 18,927 | 0.36 | 2.28 | 0.64 | 52 |
24.44 | (15.10) | 24,949 | 0.15 | 2.20 | 0.34 | 30 |
30.21 | 34.17 | 54,184 | 0.17 | 1.80 | 0.38 | 41 |
22.92 | 0.67 | 46,316 | 0.24 | 1.84 | 0.46 | 45 |
23.28 | 5.79 | 161,533 | 0.22 | 2.36 | 0.48 | 18 |
23.44 | 9.04 | 164,943 | 0.21 | 2.62 | 0.49 | 52 |
24.45 | (15.01) | 1,728,200 | 0.05 | 2.33 | 0.25 | 30 |
30.21 | 34.30 | 2,001,424 | 0.07 | 2.03 | 0.27 | 41 |
22.92 | 0.74 | 1,011,011 | 0.14 | 1.93 | 0.36 | 45 |
23.29 | 5.94 | 690,079 | 0.12 | 2.52 | 0.38 | 18 |
23.44 | 9.13 | 461,883 | 0.11 | 2.40 | 0.39 | 52 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 145 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2045 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $31.00 | $0.61 | $(5.18) | $(4.57) | $(0.47) | $(0.89) | $(1.36) |
Year Ended June 30, 2021 | 22.97 | 0.45 | 8.02 | 8.47 | (0.44) | — | (0.44) |
Year Ended June 30, 2020 | 23.43 | 0.36 | (0.41) | (0.05) | (0.36) | (0.05) | (0.41) |
Year Ended June 30, 2019 | 23.39 | 0.41 | 0.79 | 1.20 | (0.48) | (0.68) | (1.16) |
Year Ended June 30, 2018 | 21.92 | 0.46 | 1.51 | 1.97 | (0.50) | — | (0.50) |
Class R2 | |||||||
Year Ended June 30, 2022 | 31.02 | 0.34 | (5.06) | (4.72) | (0.35) | (0.89) | (1.24) |
Year Ended June 30, 2021 | 22.98 | 0.30 | 8.03 | 8.33 | (0.29) | — | (0.29) |
Year Ended June 30, 2020 | 23.41 | 0.19 | (0.35) | (0.16) | (0.22) | (0.05) | (0.27) |
Year Ended June 30, 2019 | 23.39 | 0.43 | 0.65 | 1.08 | (0.38) | (0.68) | (1.06) |
Year Ended June 30, 2018 | 21.93 | 0.34 | 1.51 | 1.85 | (0.39) | — | (0.39) |
Class R3 | |||||||
Year Ended June 30, 2022 | 30.93 | 0.52 | (5.15) | (4.63) | (0.43) | (0.89) | (1.32) |
Year Ended June 30, 2021 | 22.92 | 0.38 | 8.00 | 8.38 | (0.37) | — | (0.37) |
Year Ended June 30, 2020 | 23.38 | 0.28 | (0.38) | (0.10) | (0.31) | (0.05) | (0.36) |
Year Ended June 30, 2019 | 23.37 | 0.62 | 0.51 | 1.13 | (0.44) | (0.68) | (1.12) |
Year Ended June 30, 2018 | 21.91 | 0.45 | 1.47 | 1.92 | (0.46) | — | (0.46) |
Class R4 | |||||||
Year Ended June 30, 2022 | 31.00 | 0.61 | (5.18) | (4.57) | (0.47) | (0.89) | (1.36) |
Year Ended June 30, 2021 | 22.98 | 0.62 | 7.85 | 8.47 | (0.45) | — | (0.45) |
Year Ended June 30, 2020 | 23.43 | 0.36 | (0.40) | (0.04) | (0.36) | (0.05) | (0.41) |
Year Ended June 30, 2019 | 23.37 | 0.54 | 0.66 | 1.20 | (0.46) | (0.68) | (1.14) |
Year Ended June 30, 2018 | 21.91 | 0.54 | 1.43 | 1.97 | (0.51) | — | (0.51) |
Class R5 | |||||||
Year Ended June 30, 2022 | 31.02 | 0.63 | (5.17) | (4.54) | (0.49) | (0.89) | (1.38) |
Year Ended June 30, 2021 | 22.98 | 0.46 | 8.06 | 8.52 | (0.48) | — | (0.48) |
Year Ended June 30, 2020 | 23.43 | 0.41 | (0.42) | (0.01) | (0.39) | (0.05) | (0.44) |
Year Ended June 30, 2019 | 23.40 | 0.53 | 0.70 | 1.23 | (0.52) | (0.68) | (1.20) |
Year Ended June 30, 2018 | 21.93 | 0.60 | 1.41 | 2.01 | (0.54) | — | (0.54) |
Class R6 | |||||||
Year Ended June 30, 2022 | 31.04 | 0.68 | (5.18) | (4.50) | (0.51) | (0.89) | (1.40) |
Year Ended June 30, 2021 | 23.00 | 0.55 | 8.00 | 8.55 | (0.51) | — | (0.51) |
Year Ended June 30, 2020 | 23.46 | 0.43 | (0.42) | 0.01 | (0.42) | (0.05) | (0.47) |
Year Ended June 30, 2019 | 23.42 | 0.57 | 0.69 | 1.26 | (0.54) | (0.68) | (1.22) |
Year Ended June 30, 2018 | 21.95 | 0.56 | 1.47 | 2.03 | (0.56) | — | (0.56) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
146 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$25.07 | (15.55)% | $7,763 | 0.32% | 2.05% | 0.50% | 26% |
31.00 | 37.07 | 10,992 | 0.34 | 1.63 | 0.53 | 36 |
22.97 | (0.24) | 6,487 | 0.41 | 1.56 | 0.62 | 56 |
23.43 | 5.58 | 7,330 | 0.38 | 1.80 | 0.64 | 21 |
23.39 | 9.01 | 13,361 | 0.36 | 1.97 | 0.67 | 49 |
25.06 | (15.96) | 16 | 0.82 | 1.13 | 1.03 | 26 |
31.02 | 36.37 | 36 | 0.84 | 1.08 | 1.05 | 36 |
22.98 | (0.73) | 28 | 0.91 | 0.83 | 1.57 | 56 |
23.41 | 5.08 | 52 | 0.88 | 1.88 | 1.23 | 21 |
23.39 | 8.42 | 26 | 0.86 | 1.47 | 1.42 | 49 |
24.98 | (15.76) | 18,610 | 0.57 | 1.76 | 0.75 | 26 |
30.93 | 36.74 | 23,407 | 0.59 | 1.37 | 0.77 | 36 |
22.92 | (0.47) | 14,447 | 0.66 | 1.21 | 0.86 | 56 |
23.38 | 5.31 | 5,652 | 0.63 | 2.74 | 0.91 | 21 |
23.37 | 8.75 | 369 | 0.62 | 1.89 | 0.90 | 49 |
25.07 | (15.55) | 24,219 | 0.32 | 2.07 | 0.50 | 26 |
31.00 | 37.04 | 23,361 | 0.35 | 2.25 | 0.53 | 36 |
22.98 | (0.20) | 7,088 | 0.41 | 1.56 | 0.61 | 56 |
23.43 | 5.61 | 7,840 | 0.38 | 2.37 | 0.64 | 21 |
23.37 | 8.98 | 12,209 | 0.36 | 2.27 | 0.65 | 49 |
25.10 | (15.45) | 20,491 | 0.17 | 2.08 | 0.35 | 26 |
31.02 | 37.29 | 42,522 | 0.20 | 1.69 | 0.38 | 36 |
22.98 | (0.05) | 40,370 | 0.26 | 1.75 | 0.46 | 56 |
23.43 | 5.72 | 105,708 | 0.23 | 2.32 | 0.49 | 21 |
23.40 | 9.19 | 105,034 | 0.21 | 2.54 | 0.50 | 49 |
25.14 | (15.32) | 1,398,380 | 0.07 | 2.29 | 0.25 | 26 |
31.04 | 37.40 | 1,584,255 | 0.09 | 1.98 | 0.27 | 36 |
23.00 | 0.02 | 723,411 | 0.16 | 1.85 | 0.36 | 56 |
23.46 | 5.87 | 564,943 | 0.13 | 2.49 | 0.39 | 21 |
23.42 | 9.27 | 379,003 | 0.11 | 2.37 | 0.41 | 49 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 147 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2050 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $31.00 | $0.61 | $(5.19) | $(4.58) | $(0.47) | $(0.92) | $(1.39) |
Year Ended June 30, 2021 | 22.96 | 0.44 | 8.04 | 8.48 | (0.44) | — | (0.44) |
Year Ended June 30, 2020 | 23.37 | 0.36 | (0.36) | — | (0.34) | (0.07) | (0.41) |
Year Ended June 30, 2019 | 23.40 | 0.40 | 0.79 | 1.19 | (0.47) | (0.75) | (1.22) |
Year Ended June 30, 2018 | 21.93 | 0.47 | 1.50 | 1.97 | (0.50) | — | (0.50) |
Class R2 | |||||||
Year Ended June 30, 2022 | 30.99 | 0.37 | (5.10) | (4.73) | (0.35) | (0.92) | (1.27) |
Year Ended June 30, 2021 | 22.95 | 0.28 | 8.05 | 8.33 | (0.29) | — | (0.29) |
Year Ended June 30, 2020 | 23.34 | 0.16 | (0.28) | (0.12) | (0.20) | (0.07) | (0.27) |
Year Ended June 30, 2019 | 23.40 | 0.44 | 0.64 | 1.08 | (0.39) | (0.75) | (1.14) |
Year Ended June 30, 2018 | 21.93 | 0.34 | 1.51 | 1.85 | (0.38) | — | (0.38) |
Class R3 | |||||||
Year Ended June 30, 2022 | 30.93 | 0.51 | (5.15) | (4.64) | (0.43) | (0.92) | (1.35) |
Year Ended June 30, 2021 | 22.92 | 0.38 | 8.00 | 8.38 | (0.37) | — | (0.37) |
Year Ended June 30, 2020 | 23.35 | 0.28 | (0.33) | (0.05) | (0.31) | (0.07) | (0.38) |
Year Ended June 30, 2019 | 23.39 | 0.54 | 0.60 | 1.14 | (0.43) | (0.75) | (1.18) |
Year Ended June 30, 2018 | 21.92 | 0.41 | 1.50 | 1.91 | (0.44) | — | (0.44) |
Class R4 | |||||||
Year Ended June 30, 2022 | 30.97 | 0.61 | (5.18) | (4.57) | (0.47) | (0.92) | (1.39) |
Year Ended June 30, 2021 | 22.95 | 0.64 | 7.83 | 8.47 | (0.45) | — | (0.45) |
Year Ended June 30, 2020 | 23.38 | 0.36 | (0.36) | — | (0.36) | (0.07) | (0.43) |
Year Ended June 30, 2019 | 23.39 | 0.53 | 0.67 | 1.20 | (0.46) | (0.75) | (1.21) |
Year Ended June 30, 2018 | 21.92 | 0.53 | 1.44 | 1.97 | (0.50) | — | (0.50) |
Class R5 | |||||||
Year Ended June 30, 2022 | 30.97 | 0.62 | (5.15) | (4.53) | (0.49) | (0.92) | (1.41) |
Year Ended June 30, 2021 | 22.94 | 0.47 | 8.04 | 8.51 | (0.48) | — | (0.48) |
Year Ended June 30, 2020 | 23.37 | 0.41 | (0.38) | 0.03 | (0.39) | (0.07) | (0.46) |
Year Ended June 30, 2019 | 23.40 | 0.53 | 0.70 | 1.23 | (0.51) | (0.75) | (1.26) |
Year Ended June 30, 2018 | 21.94 | 0.63 | 1.37 | 2.00 | (0.54) | — | (0.54) |
Class R6 | |||||||
Year Ended June 30, 2022 | 30.99 | 0.68 | (5.18) | (4.50) | (0.51) | (0.92) | (1.43) |
Year Ended June 30, 2021 | 22.96 | 0.55 | 7.99 | 8.54 | (0.51) | — | (0.51) |
Year Ended June 30, 2020 | 23.38 | 0.42 | (0.35) | 0.07 | (0.42) | (0.07) | (0.49) |
Year Ended June 30, 2019 | 23.42 | 0.57 | 0.68 | 1.25 | (0.54) | (0.75) | (1.29) |
Year Ended June 30, 2018 | 21.95 | 0.56 | 1.47 | 2.03 | (0.56) | — | (0.56) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
148 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$25.03 | (15.62)% | $2,505 | 0.33% | 2.03% | 0.50% | 30% |
31.00 | 37.14 | 4,604 | 0.34 | 1.61 | 0.55 | 35 |
22.96 | (0.03) | 3,183 | 0.41 | 1.51 | 0.64 | 46 |
23.37 | 5.60 | 7,583 | 0.37 | 1.72 | 0.66 | 21 |
23.40 | 9.00 | 16,339 | 0.36 | 2.00 | 0.70 | 50 |
24.99 | (16.03) | 24 | 0.82 | 1.22 | 1.04 | 30 |
30.99 | 36.45 | 46 | 0.85 | 1.05 | 1.06 | 35 |
22.95 | (0.54) | 31 | 0.91 | 0.69 | 1.60 | 46 |
23.34 | 5.12 | 77 | 0.88 | 1.95 | 1.22 | 21 |
23.40 | 8.46 | 25 | 0.86 | 1.46 | 1.45 | 50 |
24.94 | (15.83) | 10,840 | 0.58 | 1.72 | 0.75 | 30 |
30.93 | 36.76 | 15,505 | 0.59 | 1.38 | 0.78 | 35 |
22.92 | (0.26) | 8,489 | 0.66 | 1.24 | 0.87 | 46 |
23.35 | 5.37 | 3,040 | 0.63 | 2.41 | 0.94 | 21 |
23.39 | 8.74 | 444 | 0.62 | 1.72 | 0.92 | 50 |
25.01 | (15.60) | 24,896 | 0.33 | 2.04 | 0.50 | 30 |
30.97 | 37.11 | 26,235 | 0.34 | 2.31 | 0.53 | 35 |
22.95 | (0.03) | 6,401 | 0.41 | 1.55 | 0.62 | 46 |
23.38 | 5.62 | 5,910 | 0.38 | 2.32 | 0.65 | 21 |
23.39 | 9.01 | 10,425 | 0.36 | 2.25 | 0.68 | 50 |
25.03 | (15.47) | 16,656 | 0.18 | 2.07 | 0.35 | 30 |
30.97 | 37.33 | 37,779 | 0.19 | 1.73 | 0.38 | 35 |
22.94 | 0.11 | 31,456 | 0.26 | 1.74 | 0.47 | 46 |
23.37 | 5.80 | 99,930 | 0.23 | 2.33 | 0.50 | 21 |
23.40 | 9.13 | 94,636 | 0.21 | 2.66 | 0.52 | 50 |
25.06 | (15.38) | 1,059,409 | 0.08 | 2.28 | 0.25 | 30 |
30.99 | 37.43 | 1,211,998 | 0.09 | 1.96 | 0.27 | 35 |
22.96 | 0.27 | 595,698 | 0.16 | 1.82 | 0.37 | 46 |
23.38 | 5.85 | 397,215 | 0.13 | 2.50 | 0.41 | 21 |
23.42 | 9.26 | 246,132 | 0.11 | 2.39 | 0.44 | 50 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 149 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2055 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $30.75 | $0.60 | $(5.12) | $(4.52) | $(0.46) | $(0.93) | $(1.39) |
Year Ended June 30, 2021 | 22.77 | 0.46 | 7.95 | 8.41 | (0.43) | — | (0.43) |
Year Ended June 30, 2020 | 23.18 | 0.36 | (0.39) | (0.03) | (0.34) | (0.04) | (0.38) |
Year Ended June 30, 2019 | 23.01 | 0.39 | 0.80 | 1.19 | (0.47) | (0.55) | (1.02) |
Year Ended June 30, 2018 | 21.58 | 0.46 | 1.46 | 1.92 | (0.49) | — | (0.49) |
Class R2 | |||||||
Year Ended June 30, 2022 | 30.76 | 0.36 | (5.03) | (4.67) | (0.35) | (0.93) | (1.28) |
Year Ended June 30, 2021 | 22.77 | 0.28 | 7.99 | 8.27 | (0.28) | — | (0.28) |
Year Ended June 30, 2020 | 23.16 | 0.16 | (0.31) | (0.15) | (0.20) | (0.04) | (0.24) |
Year Ended June 30, 2019 | 23.01 | 0.44 | 0.64 | 1.08 | (0.38) | (0.55) | (0.93) |
Year Ended June 30, 2018 | 21.58 | 0.34 | 1.46 | 1.80 | (0.37) | — | (0.37) |
Class R3 | |||||||
Year Ended June 30, 2022 | 30.66 | 0.48 | (5.06) | (4.58) | (0.42) | (0.93) | (1.35) |
Year Ended June 30, 2021 | 22.71 | 0.39 | 7.93 | 8.32 | (0.37) | — | (0.37) |
Year Ended June 30, 2020 | 23.14 | 0.31 | (0.40) | (0.09) | (0.30) | (0.04) | (0.34) |
Year Ended June 30, 2019 | 22.99 | 0.62 | 0.52 | 1.14 | (0.44) | (0.55) | (0.99) |
Year Ended June 30, 2018 | 21.57 | 0.42 | 1.43 | 1.85 | (0.43) | — | (0.43) |
Class R4 | |||||||
Year Ended June 30, 2022 | 30.72 | 0.60 | (5.12) | (4.52) | (0.46) | (0.93) | (1.39) |
Year Ended June 30, 2021 | 22.75 | 0.60 | 7.81 | 8.41 | (0.44) | — | (0.44) |
Year Ended June 30, 2020 | 23.17 | 0.35 | (0.38) | (0.03) | (0.35) | (0.04) | (0.39) |
Year Ended June 30, 2019 | 22.99 | 0.54 | 0.66 | 1.20 | (0.47) | (0.55) | (1.02) |
Year Ended June 30, 2018 | 21.57 | 0.55 | 1.36 | 1.91 | (0.49) | — | (0.49) |
Class R5 | |||||||
Year Ended June 30, 2022 | 30.74 | 0.62 | (5.10) | (4.48) | (0.48) | (0.93) | (1.41) |
Year Ended June 30, 2021 | 22.76 | 0.47 | 7.98 | 8.45 | (0.47) | — | (0.47) |
Year Ended June 30, 2020 | 23.18 | 0.40 | (0.39) | 0.01 | (0.39) | (0.04) | (0.43) |
Year Ended June 30, 2019 | 23.01 | 0.54 | 0.69 | 1.23 | (0.51) | (0.55) | (1.06) |
Year Ended June 30, 2018 | 21.59 | 0.58 | 1.37 | 1.95 | (0.53) | — | (0.53) |
Class R6 | |||||||
Year Ended June 30, 2022 | 30.76 | 0.68 | (5.13) | (4.45) | (0.50) | (0.93) | (1.43) |
Year Ended June 30, 2021 | 22.78 | 0.54 | 7.94 | 8.48 | (0.50) | — | (0.50) |
Year Ended June 30, 2020 | 23.20 | 0.42 | (0.39) | 0.03 | (0.41) | (0.04) | (0.45) |
Year Ended June 30, 2019 | 23.03 | 0.57 | 0.68 | 1.25 | (0.53) | (0.55) | (1.08) |
Year Ended June 30, 2018 | 21.59 | 0.56 | 1.43 | 1.99 | (0.55) | — | (0.55) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
150 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$24.84 | (15.52)% | $2,092 | 0.33% | 2.03% | 0.52% | 30% |
30.75 | 37.13 | 3,117 | 0.34 | 1.66 | 0.56 | 38 |
22.77 | (0.15) | 1,803 | 0.41 | 1.55 | 0.72 | 54 |
23.18 | 5.57 | 2,906 | 0.38 | 1.72 | 0.73 | 21 |
23.01 | 8.93 | 5,849 | 0.36 | 2.02 | 0.86 | 48 |
24.81 | (15.95) | 21 | 0.83 | 1.19 | 1.04 | 30 |
30.76 | 36.45 | 38 | 0.85 | 1.05 | 1.08 | 38 |
22.77 | (0.68) | 37 | 0.91 | 0.69 | 2.77 | 54 |
23.16 | 5.10 | 75 | 0.88 | 1.94 | 1.29 | 21 |
23.01 | 8.38 | 26 | 0.86 | 1.46 | 1.59 | 48 |
24.73 | (15.76) | 2,989 | 0.58 | 1.60 | 0.77 | 30 |
30.66 | 36.79 | 6,346 | 0.59 | 1.40 | 0.79 | 38 |
22.71 | (0.40) | 2,472 | 0.66 | 1.34 | 0.91 | 54 |
23.14 | 5.38 | 1,190 | 0.63 | 2.79 | 1.02 | 21 |
22.99 | 8.61 | 110 | 0.62 | 1.79 | 1.06 | 48 |
24.81 | (15.54) | 13,033 | 0.33 | 2.05 | 0.52 | 30 |
30.72 | 37.15 | 12,967 | 0.34 | 2.16 | 0.55 | 38 |
22.75 | (0.15) | 3,575 | 0.41 | 1.51 | 0.66 | 54 |
23.17 | 5.62 | 2,973 | 0.38 | 2.38 | 0.72 | 21 |
22.99 | 8.89 | 2,606 | 0.37 | 2.34 | 0.78 | 48 |
24.85 | (15.40) | 13,728 | 0.18 | 2.08 | 0.37 | 30 |
30.74 | 37.33 | 27,827 | 0.20 | 1.73 | 0.40 | 38 |
22.76 | — | 22,992 | 0.26 | 1.72 | 0.51 | 54 |
23.18 | 5.77 | 44,012 | 0.23 | 2.38 | 0.57 | 21 |
23.01 | 9.05 | 39,178 | 0.21 | 2.52 | 0.64 | 48 |
24.88 | (15.31) | 588,779 | 0.08 | 2.29 | 0.27 | 30 |
30.76 | 37.44 | 637,501 | 0.09 | 1.95 | 0.29 | 38 |
22.78 | 0.11 | 322,860 | 0.16 | 1.84 | 0.41 | 54 |
23.20 | 5.87 | 209,571 | 0.13 | 2.53 | 0.47 | 21 |
23.03 | 9.23 | 123,241 | 0.11 | 2.41 | 0.55 | 48 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 151 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan SmartRetirement® Blend 2060 Fund | |||||||
Class I | |||||||
Year Ended June 30, 2022 | $23.77 | $0.86 | $(4.36) | $(3.50) | $(0.36) | $(0.54) | $(0.90) |
Year Ended June 30, 2021 | 17.63 | 0.35 | 6.12 | 6.47 | (0.33) | — | (0.33) |
Year Ended June 30, 2020 | 17.96 | 0.23 | (0.26) | (0.03) | (0.26) | (0.04) | (0.30) |
Year Ended June 30, 2019 | 17.49 | 0.32 | 0.66 | 0.98 | (0.35) | (0.16) | (0.51) |
Year Ended June 30, 2018 | 16.38 | 0.34 | 1.16 | 1.50 | (0.39) | — | (0.39) |
Class R2 | |||||||
Year Ended June 30, 2022 | 23.76 | 0.29 | (3.91) | (3.62) | (0.28) | (0.54) | (0.82) |
Year Ended June 30, 2021 | 17.61 | 0.23 | 6.14 | 6.37 | (0.22) | — | (0.22) |
Year Ended June 30, 2020 | 17.94 | 0.16 | (0.28) | (0.12) | (0.17) | (0.04) | (0.21) |
Year Ended June 30, 2019 | 17.49 | 0.29 | 0.59 | 0.88 | (0.27) | (0.16) | (0.43) |
Year Ended June 30, 2018 | 16.38 | 0.25 | 1.16 | 1.41 | (0.30) | — | (0.30) |
Class R3 | |||||||
Year Ended June 30, 2022 | 23.71 | 0.38 | (3.94) | (3.56) | (0.32) | (0.54) | (0.86) |
Year Ended June 30, 2021 | 17.58 | 0.29 | 6.12 | 6.41 | (0.28) | — | (0.28) |
Year Ended June 30, 2020 | 17.92 | 0.23 | (0.30) | (0.07) | (0.23) | (0.04) | (0.27) |
Year Ended June 30, 2019 | 17.48 | 0.39 | 0.53 | 0.92 | (0.32) | (0.16) | (0.48) |
Year Ended June 30, 2018 | 16.38 | 0.29 | 1.16 | 1.45 | (0.35) | — | (0.35) |
Class R4 | |||||||
Year Ended June 30, 2022 | 23.80 | 0.47 | (3.99) | (3.52) | (0.36) | (0.54) | (0.90) |
Year Ended June 30, 2021 | 17.65 | 0.32 | 6.16 | 6.48 | (0.33) | — | (0.33) |
Year Ended June 30, 2020 | 17.97 | 0.28 | (0.30) | (0.02) | (0.26) | (0.04) | (0.30) |
Year Ended June 30, 2019 | 17.48 | 0.41 | 0.57 | 0.98 | (0.33) | (0.16) | (0.49) |
Year Ended June 30, 2018 | 16.38 | 0.41 | 1.08 | 1.49 | (0.39) | — | (0.39) |
Class R5 | |||||||
Year Ended June 30, 2022 | 23.74 | 0.50 | (3.98) | (3.48) | (0.37) | (0.54) | (0.91) |
Year Ended June 30, 2021 | 17.60 | 0.38 | 6.12 | 6.50 | (0.36) | — | (0.36) |
Year Ended June 30, 2020 | 17.94 | 0.31 | (0.31) | — | (0.30) | (0.04) | (0.34) |
Year Ended June 30, 2019 | 17.49 | 0.58 | 0.42 | 1.00 | (0.39) | (0.16) | (0.55) |
Year Ended June 30, 2018 | 16.38 | 0.58 | 0.95 | 1.53 | (0.42) | — | (0.42) |
Class R6 | |||||||
Year Ended June 30, 2022 | 23.75 | 0.53 | (3.99) | (3.46) | (0.38) | (0.54) | (0.92) |
Year Ended June 30, 2021 | 17.61 | 0.43 | 6.09 | 6.52 | (0.38) | — | (0.38) |
Year Ended June 30, 2020 | 17.95 | 0.33 | (0.32) | 0.01 | (0.31) | (0.04) | (0.35) |
Year Ended June 30, 2019 | 17.49 | 0.46 | 0.56 | 1.02 | (0.40) | (0.16) | (0.56) |
Year Ended June 30, 2018 | 16.38 | 0.48 | 1.06 | 1.54 | (0.43) | — | (0.43) |
(a) | Net investment income (loss) is affected by the timing of distributions from Underlying Funds. |
(b) | Calculated based upon average shares outstanding. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(e) | Does not include expenses of Underlying Funds. |
152 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return(c) | Net assets, end of period (000's) | Net expenses(d)(e) | Net investment income (loss)(a) | Expenses without waivers and reimbursements(e) | Portfolio turnover rate |
$19.37 | (15.42)% | $9,233 | 0.33% | 4.00% | 0.62% | 21% |
23.77 | 36.93 | 540 | 0.34 | 1.63 | 0.66 | 34 |
17.63 | (0.19) | 250 | 0.41 | 1.27 | 1.77 | 53 |
17.96 | 5.83 | 534 | 0.38 | 1.87 | 1.53 | 34 |
17.49 | 9.18 | 1,191 | 0.37 | 1.97 | 5.09 | 79 |
19.32 | (15.88) | 27 | 0.83 | 1.28 | 1.29 | 21 |
23.76 | 36.31 | 36 | 0.85 | 1.11 | 1.23 | 34 |
17.61 | (0.74) | 27 | 0.91 | 0.89 | 1.61 | 53 |
17.94 | 5.28 | 41 | 0.89 | 1.68 | 2.20 | 34 |
17.49 | 8.63 | 24 | 0.87 | 1.45 | 6.08 | 79 |
19.29 | (15.67) | 2,066 | 0.58 | 1.68 | 0.85 | 21 |
23.71 | 36.66 | 2,590 | 0.59 | 1.36 | 0.90 | 34 |
17.58 | (0.46) | 1,205 | 0.66 | 1.28 | 1.18 | 53 |
17.92 | 5.51 | 830 | 0.64 | 2.25 | 1.58 | 34 |
17.48 | 8.85 | 256 | 0.63 | 1.64 | 3.29 | 79 |
19.38 | (15.48) | 1,980 | 0.33 | 2.12 | 0.61 | 21 |
23.80 | 36.93 | 338 | 0.35 | 1.54 | 0.73 | 34 |
17.65 | (0.17) | 255 | 0.41 | 1.52 | 0.97 | 53 |
17.97 | 5.80 | 360 | 0.38 | 2.37 | 1.58 | 34 |
17.48 | 9.13 | 911 | 0.37 | 2.32 | 3.61 | 79 |
19.35 | (15.34) | 3,030 | 0.18 | 2.17 | 0.44 | 21 |
23.74 | 37.18 | 7,173 | 0.19 | 1.81 | 0.51 | 34 |
17.60 | (0.06) | 3,779 | 0.26 | 1.74 | 0.81 | 53 |
17.94 | 5.95 | 4,129 | 0.24 | 3.33 | 1.18 | 34 |
17.49 | 9.36 | 634 | 0.22 | 3.30 | 3.91 | 79 |
19.37 | (15.24) | 222,534 | 0.08 | 2.33 | 0.34 | 21 |
23.75 | 37.29 | 186,508 | 0.09 | 1.97 | 0.39 | 34 |
17.61 | 0.04 | 71,093 | 0.16 | 1.84 | 0.67 | 53 |
17.95 | 6.09 | 35,217 | 0.14 | 2.62 | 1.10 | 34 |
17.49 | 9.45 | 10,800 | 0.12 | 2.69 | 3.38 | 79 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 153 |
AS OF June 30, 2022
(Dollar values in thousands)
Classes Offered | Diversification Classification | |
JPMorgan SmartRetirement® Blend Income Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpendingSM 2015 Fund)(1) | Class A(2), Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2020 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2025 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2030 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2035 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2040 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2045 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2050 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2055 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
JPMorgan SmartRetirement® Blend 2060 Fund | Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | Diversified |
(1) | Effective March 18, 2022, JPMorgan SmartSpendingSM 2015 Fund changed its name to JPMorgan SmartRetirement® Blend 2015 Fund. |
(2) | Liquidated on October 14, 2021. |
154 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Asset-Backed Securities | $— | $16,833 | $9,811 | $26,644 |
Collateralized Mortgage Obligations | — | 5,121 | 1,440 | 6,561 |
Commercial Mortgage-Backed Securities | — | 3,208 | 168 | 3,376 |
Corporate Bonds | — | 34,716 | — | 34,716 |
Exchange-Traded Funds | 172,747 | — | — | 172,747 |
Foreign Government Securities | — | 896 | — | 896 |
Investment Companies | 230,908 | — | — | 230,908 |
Mortgage-Backed Securities | — | 24,531 | — | 24,531 |
U.S. Treasury Obligations | — | 22,821 | — | 22,821 |
Short-Term Investments | ||||
Investment Companies | 45,463 | — | — | 45,463 |
Total Investments in Securities | $449,118 | $108,126 | $11,419 | $568,663 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 155 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend Income Fund (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $91 | $— | $— | $91 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (90) | — | — | (90) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $1 | $— | $— | $1 |
JPMorgan SmartRetirement® Blend 2015 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Asset-Backed Securities | $— | $764 | $68 | $832 |
Collateralized Mortgage Obligations | — | 79 | 76 | 155 |
Commercial Mortgage-Backed Securities | — | 200 | 7 | 207 |
Corporate Bonds | — | 1,595 | — | 1,595 |
Exchange-Traded Funds | 7,953 | — | — | 7,953 |
Investment Companies | 10,429 | — | — | 10,429 |
Mortgage-Backed Securities | — | 1,359 | — | 1,359 |
U.S. Treasury Obligations | — | 1,821 | — | 1,821 |
Short-Term Investments | ||||
Investment Companies | 2,278 | — | — | 2,278 |
Total Investments in Securities | $20,660 | $5,818 | $151 | $26,629 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $—(a) | $— | $— | $—(a) |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (5) | — | — | (5) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(5) | $— | $— | $(5) |
(a) | Amount rounds to less than one thousand. |
JPMorgan SmartRetirement® Blend 2020 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Asset-Backed Securities | $— | $32,049 | $18,962 | $51,011 |
Collateralized Mortgage Obligations | — | 10,233 | 4,381 | 14,614 |
Commercial Mortgage-Backed Securities | — | 6,441 | 265 | 6,706 |
Corporate Bonds | — | 62,061 | — | 62,061 |
Exchange-Traded Funds | 309,639 | — | — | 309,639 |
Foreign Government Securities | — | 1,303 | — | 1,303 |
Investment Companies | 418,997 | — | — | 418,997 |
Mortgage-Backed Securities | — | 47,453 | — | 47,453 |
U.S. Treasury Obligations | — | 32,874 | — | 32,874 |
156 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2020 Fund (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $83,356 | $— | $— | $83,356 |
Total Investments in Securities | $811,992 | $192,414 | $23,608 | $1,028,014 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $220 | $— | $— | $220 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (199) | — | — | (199) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $21 | $— | $— | $21 |
JPMorgan SmartRetirement® Blend 2025 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Asset-Backed Securities | $— | $50,279 | $26,420 | $76,699 |
Collateralized Mortgage Obligations | — | 13,697 | 6,606 | 20,303 |
Commercial Mortgage-Backed Securities | — | 9,001 | 423 | 9,424 |
Corporate Bonds | — | 107,089 | — | 107,089 |
Exchange-Traded Funds | 550,758 | — | — | 550,758 |
Foreign Government Securities | — | 1,986 | — | 1,986 |
Investment Companies | 814,622 | — | — | 814,622 |
Mortgage-Backed Securities | — | 78,949 | — | 78,949 |
U.S. Treasury Obligations | — | 71,788 | — | 71,788 |
Short-Term Investments | ||||
Investment Companies | 86,271 | — | — | 86,271 |
Total Investments in Securities | $1,451,651 | $332,789 | $33,449 | $1,817,889 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $11 | $— | $— | $11 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (1,144) | — | — | (1,144) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(1,133) | $— | $— | $(1,133) |
JPMorgan SmartRetirement® Blend 2030 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Asset-Backed Securities | $— | $49,377 | $24,987 | $74,364 |
Collateralized Mortgage Obligations | — | 12,948 | 6,096 | 19,044 |
Commercial Mortgage-Backed Securities | — | 8,803 | 376 | 9,179 |
Corporate Bonds | — | 100,967 | — | 100,967 |
Exchange-Traded Funds | 662,996 | — | — | 662,996 |
Foreign Government Securities | — | 1,873 | — | 1,873 |
Investment Companies | 1,070,455 | — | — | 1,070,455 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 157 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2030 Fund (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Mortgage-Backed Securities | $— | $72,357 | $— | $72,357 |
U.S. Treasury Obligations | — | 83,558 | — | 83,558 |
Short-Term Investments | ||||
Investment Companies | 78,148 | — | — | 78,148 |
Total Investments in Securities | $1,811,599 | $329,883 | $31,459 | $2,172,941 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $13 | $— | $— | $13 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (1,372) | — | — | (1,372) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(1,359) | $— | $— | $(1,359) |
JPMorgan SmartRetirement® Blend 2035 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Asset-Backed Securities | $— | $9,764 | $5,622 | $15,386 |
Collateralized Mortgage Obligations | — | 4,209 | 1,259 | 5,468 |
Commercial Mortgage-Backed Securities | — | 2,720 | — | 2,720 |
Corporate Bonds | — | 22,797 | — | 22,797 |
Exchange-Traded Funds | 686,395 | — | — | 686,395 |
Foreign Government Securities | — | 329 | — | 329 |
Investment Companies | 1,189,833 | — | — | 1,189,833 |
Mortgage-Backed Securities | — | 15,071 | — | 15,071 |
U.S. Treasury Obligations | — | 24,733 | — | 24,733 |
Short-Term Investments | ||||
Investment Companies | 86,236 | — | — | 86,236 |
Total Investments in Securities | $1,962,464 | $79,623 | $6,881 | $2,048,968 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $15 | $— | $— | $15 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (1,290) | — | — | (1,290) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(1,275) | $— | $— | $(1,275) |
JPMorgan SmartRetirement® Blend 2040 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Exchange-Traded Funds | $641,853 | $— | $— | $641,853 |
Investment Companies | 1,122,787 | — | — | 1,122,787 |
U.S. Treasury Obligations | — | 4,880 | — | 4,880 |
158 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2040 Fund (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $38,718 | $— | $— | $38,718 |
Total Investments in Securities | $1,803,358 | $4,880 | $— | $1,808,238 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $36 | $— | $— | $36 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (1,257) | — | — | (1,257) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(1,221) | $— | $— | $(1,221) |
JPMorgan SmartRetirement® Blend 2045 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Exchange-Traded Funds | $544,245 | $— | $— | $544,245 |
Investment Companies | 877,936 | — | — | 877,936 |
U.S. Treasury Obligations | — | 3,982 | — | 3,982 |
Short-Term Investments | ||||
Investment Companies | 36,169 | — | — | 36,169 |
Total Investments in Securities | $1,458,350 | $3,982 | $— | $1,462,332 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $29 | $— | $— | $29 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (1,008) | — | — | (1,008) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(979) | $— | $— | $(979) |
JPMorgan SmartRetirement® Blend 2050 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Exchange-Traded Funds | $414,853 | $— | $— | $414,853 |
Investment Companies | 664,426 | — | — | 664,426 |
U.S. Treasury Obligations | — | 3,090 | — | 3,090 |
Short-Term Investments | ||||
Investment Companies | 26,791 | — | — | 26,791 |
Total Investments in Securities | $1,106,070 | $3,090 | $— | $1,109,160 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $22 | $— | $— | $22 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 159 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2050 Fund (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(763) | $— | $— | $(763) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(741) | $— | $— | $(741) |
JPMorgan SmartRetirement® Blend 2055 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Exchange-Traded Funds | $234,641 | $— | $— | $234,641 |
Investment Companies | 366,606 | — | — | 366,606 |
U.S. Treasury Obligations | — | 1,845 | — | 1,845 |
Short-Term Investments | ||||
Investment Companies | 15,007 | — | — | 15,007 |
Total Investments in Securities | $616,254 | $1,845 | $— | $618,099 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $12 | $— | $— | $12 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (421) | — | — | (421) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(409) | $— | $— | $(409) |
JPMorgan SmartRetirement® Blend 2060 Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Exchange-Traded Funds | $90,725 | $— | $— | $90,725 |
Investment Companies | 136,708 | — | — | 136,708 |
U.S. Treasury Obligations | — | 782 | — | 782 |
Short-Term Investments | ||||
Investment Companies | 11,956 | — | — | 11,956 |
Total Investments in Securities | $239,389 | $782 | $— | $240,171 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $5 | $— | $— | $5 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (123) | — | — | (123) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(118) | $— | $— | $(118) |
160 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | Balance as of June 30, 2021 | Realized gain (loss) | Change in net unrealized appreciation (depreciation) | Net accretion (amortization) | Purchases1 | Sales2 | Transfers into Level 3 | Transfers out of Level 3 | Other(a) | Balance as of June 30, 2022 |
Investments in securities: | ||||||||||
Asset-Backed Securities | $5,140 | $(3) | $(744) | $—(b) | $4,502 | $(2,776) | $4,156 | $— | $(464) | $9,811 |
Collateralized Mortgage Obligations | 879 | (1) | (96) | (1) | 811 | (617) | — | 1 | 464 | 1,440 |
Commercial Mortgage-Backed Securities | 235 | — | (8) | — | — | (59) | — | — | — | 168 |
Total | $6,254 | $(4) | $(848) | $(1) | $5,313 | $(3,452) | $4,156 | $1 | $— | $11,419 |
1 | Purchases include all purchases of securities and securities received in corporate actions. | ||||||||
2 | Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions. |
(a) | Certain Level 3 investments were re-classified between Asset-Backed Securities and Collateralized Mortgage Obligations |
(b) | Amount rounds to less than one thousand. |
JPMorgan SmartRetirement® Blend 2015 Fund | Balance as of June 30, 2021 | Realized gain (loss) | Change in net unrealized appreciation (depreciation) | Net accretion (amortization) | Purchases1 | Sales2 | Transfers into Level 3 | Transfers out of Level 3 | Balance as of June 30, 2022 |
Investments in securities: | |||||||||
Asset-Backed Securities | $— | $— | $(4) | $— | $— | $(10) | $82 | $— | $68 |
Collateralized Mortgage Obligations | 47 | — | (5) | —(a) | 50 | (16) | — | — | 76 |
Commercial Mortgage-Backed Securities | 10 | — | —(a) | — | — | (3) | — | — | 7 |
Total | $57 | $— | $(9) | $— | $50 | $(29) | $82 | $— | $151 |
1 | Purchases include all purchases of securities and securities received in corporate actions. | ||||||||
2 | Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions. |
(a) | Amount rounds to less than one thousand. |
JPMorgan SmartRetirement® Blend 2020 Fund | Balance as of June 30, 2021 | Realized gain (loss) | Change in net unrealized appreciation (depreciation) | Net accretion (amortization) | Purchases1 | Sales2 | Transfers into Level 3 | Transfers out of Level 3 | Other(a) | Balance as of June 30, 2022 |
Investments in securities: | ||||||||||
Asset-Backed Securities | $9,551 | $(6) | $(1,454) | $—(b) | $8,846 | $(5,094) | $8,037 | $— | $(918) | $18,962 |
Collateralized Mortgage Obligations | 3,691 | (3) | (327) | (3) | 2,236 | (2,132) | — | 1 | 918 | 4,381 |
Commercial Mortgage-Backed Securities | 470 | (3) | (12) | — | — | (190) | — | — | — | 265 |
Total | $13,712 | $(12) | $(1,793) | $(3) | $11,082 | $(7,416) | $8,037 | $1 | $— | $23,608 |
1 | Purchases include all purchases of securities and securities received in corporate actions. | ||||||||
2 | Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions. |
(a) | Certain Level 3 investments were re-classified between Asset-Backed Securities and Collateralized Mortgage Obligations |
(b) | Amount rounds to less than one thousand. |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 161 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2025 Fund | Balance as of June 30, 2021 | Realized gain (loss) | Change in net unrealized appreciation (depreciation) | Net accretion (amortization) | Purchases1 | Sales2 | Transfers into Level 3 | Transfers out of Level 3 | Other(a) | Balance as of June 30, 2022 |
Investments in securities: | ||||||||||
Asset-Backed Securities | $13,396 | $(3) | $(2,028) | $—(b) | $12,498 | $(6,935) | $10,680 | $— | $(1,188) | $26,420 |
Collateralized Mortgage Obligations | 5,053 | (1) | (494) | (5) | 3,944 | (3,079) | — | — | 1,188 | 6,606 |
Commercial Mortgage-Backed Securities | 590 | — | (19) | — | — | (148) | — | — | — | 423 |
Total | $19,039 | $(4) | $(2,541) | $(5) | $16,442 | $(10,162) | $10,680 | $— | $— | $33,449 |
1 | Purchases include all purchases of securities and securities received in corporate actions. | ||||||||
2 | Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions. |
(a) | Certain Level 3 investments were re-classified between Asset-Backed Securities and Collateralized Mortgage Obligations |
(b) | Amount rounds to less than one thousand. |
JPMorgan SmartRetirement® Blend 2030 Fund | Balance as of June 30, 2021 | Realized gain (loss) | Change in net unrealized appreciation (depreciation) | Net accretion (amortization) | Purchases1 | Sales2 | Transfers into Level 3 | Transfers out of Level 3 | Other(a) | Balance as of June 30, 2022 |
Investments in securities: | ||||||||||
Asset-Backed Securities | $13,009 | $— | $(1,916) | $—(b) | $12,023 | $(7,132) | $10,088 | $— | $(1,085) | $24,987 |
Collateralized Mortgage Obligations | 4,428 | (1) | (454) | (5) | 3,723 | (2,680) | — | — | 1,085 | 6,096 |
Commercial Mortgage-Backed Securities | 525 | — | (17) | — | — | (132) | — | — | — | 376 |
Total | $17,962 | $(1) | $(2,387) | $(5) | $15,746 | $(9,944) | $10,088 | $— | $— | $31,459 |
1 | Purchases include all purchases of securities and securities received in corporate actions. | ||||||||
2 | Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions. |
(a) | Certain Level 3 investments were re-classified between Asset-Backed Securities and Collateralized Mortgage Obligations |
(b) | Amount rounds to less than one thousand. |
162 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
SmartRetirement®
Blend Income
Fund
Fair Value at June 30, 2022 | Valuation Technique(s) | Unobservable Input | Range (Weighted Average) (a) | |
$9,810 | Discounted Cash Flow | Constant Prepayment Rate | 0.00% - 100.00% (16.48%) | |
Yield (Discount Rate of Cash Flows) | 3.56% - 6.77% (5.67%) | |||
Asset Backed Securities | 9,810 | |||
168 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 5.30% (5.30%) | |
Commercial Mortgage-Backed Securities | 168 | |||
1,085 | Discounted Cash Flow | Constant Prepayment Rate | 12.50% - 100% 72.27%) | |
Yield (Discount Rate of Cash Flows) | 3.93% - 6.80% (4.84%) | |||
Collateralized Mortgage Obligations | 1,085 | |||
Total | 11,063 |
# | The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At June 30 2022, the value of these investments was $356. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2.A. |
(a) | Unobservable inputs were weighted by the relative fair value of the instruments. |
SmartRetirement®
Blend 2015
Fund
Fair Value at June 30, 2022 | Valuation Technique(s) | Unobservable Input | Range (Weighted Average)(a) | |
$68 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 5.87% (5.87%) | |
Asset Backed Securities | 68 | |||
7 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 5.30% (5.30%) | |
Commercial Mortgage-Backed Securities | 7 | |||
76 | Discounted Cash Flow | Constant Prepayment Rate | 100.0% (100.0%) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 163 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Fair Value at June 30, 2022 | Valuation Technique(s) | Unobservable Input | Range (Weighted Average)(a) | |
Constant Default Rate | 0.00% - 0.50% (0.20%) | |||
Yield (Discount Rate of Cash Flows) | 3.87%-3.93% (3.90%) | |||
Collateralized Mortgage Obligations | 76 | |||
Total | 151 |
(a) | Unobservable inputs were weighted by the relative fair value of the instruments. |
SmartRetirement®
Blend 2020
Fund
Fair Value at June 30, 2022 | Valuation Technique(s) | Unobservable Input | Range (Weighted Average)(a) | |
$18,964 | Discounted Cash Flow | Constant Prepayment Rate | 0.00% - 100.00% (16.89%) | |
Yield (Discount Rate of Cash Flows) | 3.56% - 6.77% (5.69%) | |||
Asset Backed Securities | 18,964 | |||
265 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 5.30% (5.30%) | |
Commercial Mortgage-Backed Securities | 265 | |||
3,750 | Discounted Cash Flow | Constant Prepayment Rate | 12.50%-100% (84.12%) | |
Constant Default Rate | 0.00% - 0.50% (0.14%) | |||
Yield (Discount Rate of Cash Flows) | 3.87% - 6.80% (4.43%) | |||
Collateralized Mortgage Obligations | 3,750 | |||
Total | 22,979 |
# | The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At June 30, 2022, the value of these investments was $632. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2.A. |
(a) | Unobservable inputs were weighted by the relative fair value of the instruments. |
164 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
SmartRetirement®
Blend 2025
Fund
Fair Value at June 30, 2022 | Valuation Technique(s) | Unobservable Input | Range (Weighted Average)(a) | |
$26,418 | Discounted Cash Flow | Constant Prepayment Rate | 0.00% - 100.00% (17.14%) | |
Yield (Discount Rate of Cash Flows) | 3.56% - 6.77% (5.68%) | |||
Asset Backed Securities | 26,418 | |||
423 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 5.30% (5.30%) | |
Commercial Mortgage-Backed Securities | 423 | |||
5,607 | Discounted Cash Flow | Constant Prepayment Rate | 12.50%-100% (86.27%) | |
Constant Default Rate | 0.00% - 0.50% (0.12%) | |||
Yield (Discount Rate of Cash Flows) | 3.87% - 6.80% (4.36%) | |||
Collateralized Mortgage Obligations | 5,607 | |||
Total | 32,448 |
# | The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At June 30, 2022, the value of these investments was $1,000. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2.A. |
(a) | Unobservable inputs were weighted by the relative fair value of the instruments. |
SmartRetirement®
Blend 2030
Fund
Fair Value at June 30, 2022 | Valuation Technique(s) | Unobservable Input | Range (Weighted Average)(a) | |
$24,989 | Discounted Cash Flow | Constant Prepayment Rate | 0.00% - 100.00% (17.24%) | |
Yield (Discount Rate of Cash Flows) | 3.56% - 6.77% (5.68%) | |||
Asset Backed Securities | 24,989 | |||
376 | Discounted Cash Flow | Yield (Discount Rate of Cash Flows) | 5.30% (5.30%) | |
Commercial Mortgage-Backed Securities | 376 | |||
5,142 | Discounted Cash Flow | Constant Prepayment Rate | 12.50%-100%(86.31%) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 165 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Fair Value at June 30, 2022 | Valuation Technique(s) | Unobservable Input | Range (Weighted Average)(a) | |
Constant Default Rate | 0.00% - 0.50% (0.12%) | |||
Yield (Discount Rate of Cash Flows) | 3.87% - 6.80% (4.36%) | |||
Collateralized Mortgage Obligations | 5,142 | |||
Total | 30,507 |
# | The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At June 30, 2022, the value of these investments was $ 952. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2.A. |
(a) | Unobservable inputs were weighted by the relative fair value of the instruments. |
166 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | $— | $2,031 | $1,967 | $(64) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 73,407 | 9,365 | 15,542 | 365 | (14,270) | 53,325 | 1,127 | 2,689 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 14,482 | 697 | 5,945 | 1,119 | (1,414) | 8,939 | 102 | 271 | —(b) |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 15,151 | 2,576 | 1,126 | 306 | (3,754) | 13,153 | 189 | 151 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 11,146 | 5,304 | 2,219 | 92 | (3,130) | 11,193 | 222 | 125 | — |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | — | 59,670 | 3,563 | (291) | (2,969) | 52,847 | 7,094 | 427 | — |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 14,405 | 10,924 | 10,696 | (2,973) | (1,643) | 10,017 | 1,724 | 686 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | — | 31,755 | 1,252 | (155) | (3,415) | 26,933 | 1,714 | — | — |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 14,374 | 547 | 12,632 | (2,195) | (94) | — | — | 546 | — |
JPMorgan Equity Index Fund Class R6 Shares (a) | 70,709 | 72,011 | 17,743 | 182 | (16,189) | 108,970 | 1,918 | 1,437 | 1,402 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 9,500 | 751 | 2,787 | (158) | (440) | 6,866 | 832 | 282 | — |
JPMorgan High Yield Fund Class R6 Shares (a) | 27,273 | 15,658 | 12,490 | (535) | (4,631) | 25,275 | 4,110 | 1,368 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 32,371 | — | 26,297 | (1,863) | (1,088) | 3,123 | 72 | 1,140 | — |
JPMorgan Income Fund Class R6 Shares (a) | 19,471 | 471 | 19,077 | (590) | (275) | — | — | 504 | — |
JPMorgan Inflation Managed Bond ETF (a) | — | 46,407 | 2,466 | (90) | (555) | 43,296 | 896 | 345 | — |
JPMorgan Inflation Managed Bond Fund Class R6 Shares (a) | 57,050 | 2,174 | 57,163 | 154 | (2,215) | — | — | 1,008 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 1,866 | — | 1,866 | (1) | 1 | — | — | 1 | — |
JPMorgan Short Duration Core Plus Fund Class R6 Shares (a) | 62,313 | 886 | 60,216 | (1,775) | (1,208) | — | — | 742 | 144 |
JPMorgan U.S. Aggregate Bond ETF (a) | 46,037 | 33,064 | 33,751 | (1,167) | (4,465) | 39,718 | 828 | 672 | 55 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) | 39,755 | 222,492 | 216,784 | — | — | 45,463 | 45,463 | 67 | — |
JPMorgan U.S. Value Factor ETF | 38,593 | — | 38,988 | 1,441 | (1,046) | — | — | 117 | — |
Total | $547,903 | $516,783 | $544,570 | $(8,198) | $(62,800) | $449,118 | $12,578 | $1,601 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | Amount rounds to less than one thousand. |
(c) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2015 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (a) | $— | $415 | $407 | $(8) | $— | $— | — | $— | $— |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 167 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2015 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan BetaBuilders International Equity ETF (a) | $3,012 | $381 | $274 | $45 | $(688) | $2,476 | 52 | $119 | $— |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 591 | 9 | 212 | 43 | (58) | 373 | 4 | 12 | — |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | — | 2,690 | 89 | (4) | (146) | 2,451 | 329 | 20 | — |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 593 | 488 | 405 | (91) | (121) | 464 | 80 | 30 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | — | 1,430 | 42 | (2) | (150) | 1,236 | 79 | — | — |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 593 | 23 | 517 | (92) | (7) | — | — | 23 | — |
JPMorgan Equity Index Fund Class R6 Shares (a) | 3,989 | 2,564 | 1,088 | 265 | (932) | 4,798 | 84 | 59 | 52 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 389 | 23 | 75 | (1) | (27) | 309 | 38 | 12 | — |
JPMorgan High Yield Fund Class R6 Shares (a) | 1,112 | 971 | 661 | (35) | (216) | 1,171 | 190 | 64 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 1,301 | 64 | 1,097 | (74) | (44) | 150 | 4 | 45 | — |
JPMorgan Income Fund Class R6 Shares (a) | 769 | 20 | 755 | (21) | (13) | — | — | 20 | — |
JPMorgan Inflation Managed Bond ETF (a) | — | 2,157 | 119 | 1 | (29) | 2,010 | 42 | 16 | — |
JPMorgan Inflation Managed Bond Fund Class R6 Shares (a) | 2,345 | 96 | 2,345 | 9 | (105) | — | — | 43 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 20 | — | 20 | — | — | — | — | — | — |
JPMorgan Short Duration Core Plus Fund Class R6 Shares (a) | 2,528 | 128 | 2,525 | (78) | (53) | — | — | 32 | 6 |
JPMorgan U.S. Aggregate Bond ETF (a) | 2,262 | 701 | 847 | (32) | (242) | 1,842 | 38 | 31 | 2 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 1,788 | 7,719 | 7,229 | — | — | 2,278 | 2,278 | 3 | — |
Total | $21,292 | $19,879 | $18,707 | $(75) | $(2,831) | $19,558 | $529 | $60 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2020 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (a) | $— | $3,699 | $3,582 | $(117) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 141,085 | 11,778 | 30,723 | 3,922 | (29,128) | 96,934 | 2,050 | 4,984 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 29,400 | 1,303 | 16,964 | 2,613 | (2,933) | 13,419 | 153 | 504 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 28,495 | 4,432 | 2,818 | 809 | (7,058) | 23,860 | 342 | 278 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 19,674 | 8,341 | 2,161 | 197 | (5,748) | 20,303 | 403 | 228 | — |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | — | 108,268 | 7,038 | (656) | (5,349) | 95,225 | 12,782 | 782 | — |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 27,986 | 18,800 | 19,978 | (5,556) | (3,011) | 18,241 | 3,140 | 1,288 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | — | 57,236 | 1,757 | (251) | (6,262) | 48,966 | 3,117 | — | — |
168 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2020 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | $27,937 | $1,016 | $24,729 | $(3,943) | $(281) | $— | — | $1,015 | $— |
JPMorgan Equity Index Fund Class R6 Shares (a) | 135,154 | 123,990 | 32,060 | (270) | (28,732) | 198,082 | 3,486 | 2,673 | 2,639 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 18,902 | 1,334 | 6,678 | (382) | (722) | 12,454 | 1,509 | 534 | — |
JPMorgan High Yield Fund Class R6 Shares (a) | 50,865 | 35,034 | 30,632 | (1,022) | (8,216) | 46,029 | 7,484 | 2,447 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 60,856 | 2,201 | 52,161 | (3,513) | (1,966) | 5,417 | 124 | 2,110 | — |
JPMorgan Income Fund Class R6 Shares (a) | 38,004 | 914 | 37,235 | (1,059) | (624) | — | — | 981 | — |
JPMorgan Inflation Managed Bond ETF (a) | — | 84,745 | 5,232 | (175) | (1,203) | 78,135 | 1,618 | 625 | — |
JPMorgan Inflation Managed Bond Fund Class R6 Shares (a) | 108,783 | 1,872 | 107,188 | 400 | (3,867) | — | — | 1,872 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 1 | — | 1 | — | — | — | — | — | — |
JPMorgan Short Duration Core Plus Fund Class R6 Shares (a) | 120,312 | 1,627 | 116,500 | (3,156) | (2,283) | — | — | 1,368 | 261 |
JPMorgan U.S. Aggregate Bond ETF (a) | 74,074 | 89,697 | 82,263 | (1,773) | (8,164) | 71,571 | 1,492 | 1,098 | 101 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 68,887 | 494,233 | 479,764 | — | — | 83,356 | 83,356 | 119 | — |
JPMorgan U.S. Value Factor ETF (a) | 73,085 | — | 73,901 | 2,877 | (2,061) | — | — | 234 | — |
Total | $1,023,500 | $1,050,520 | $1,133,365 | $(11,055) | $(117,608) | $811,992 | $23,140 | $3,001 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2025 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (a) | $— | $7,967 | $7,716 | $(251) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 330,989 | 26,288 | 82,099 | 1,487 | (60,707) | 215,958 | 4,567 | 11,835 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 67,494 | 3,137 | 34,238 | 6,265 | (6,777) | 35,881 | 408 | 1,206 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 67,810 | 11,298 | 12,001 | 1,188 | (15,293) | 53,002 | 760 | 670 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 44,460 | 13,462 | — | — | (13,056) | 44,866 | 891 | 539 | — |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | — | 181,845 | 10,644 | (899) | (8,978) | 161,324 | 21,654 | 1,301 | — |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 37,342 | 32,598 | 18,387 | (4,872) | (7,882) | 38,799 | 6,678 | 1,893 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 109,508 | 53,857 | 19,346 | (3,804) | (34,187) | 106,028 | 6,749 | 2,909 | 2,783 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 169 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2025 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | $37,384 | $1,452 | $32,511 | $(6,067) | $(258) | $— | — | $1,451 | $— |
JPMorgan Equity Index Fund Class R6 Shares (a) | 329,195 | 203,894 | 69,511 | 74 | (58,213) | 405,439 | 7,134 | 5,673 | 5,508 |
JPMorgan Floating Rate Income Fund Class R6 Shares (a) | 21,495 | 1,660 | 2,143 | (130) | (1,527) | 19,355 | 2,346 | 696 | — |
JPMorgan High Yield Fund Class R6 Shares (a) | 58,107 | 58,485 | 19,608 | (324) | (12,983) | 83,677 | 13,606 | 3,190 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 72,973 | 7,715 | 65,259 | (4,871) | (2,565) | 7,993 | 183 | 2,762 | — |
JPMorgan Income Fund Class R6 Shares (a) | 45,195 | 1,120 | 44,182 | (1,622) | (511) | — | — | 1,209 | — |
JPMorgan Inflation Managed Bond ETF (a) | — | 77,897 | 3,712 | (248) | (2,119) | 71,818 | 1,487 | 569 | — |
JPMorgan Inflation Managed Bond Fund Class R6 Shares (a) | 69,580 | 9,964 | 77,598 | 43 | (1,989) | — | — | 1,254 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 822 | — | 822 | 2 | (2) | — | — | — | — |
JPMorgan Short Duration Core Plus Fund Class R6 Shares (a) | 175,229 | 6,779 | 173,573 | (5,616) | (2,819) | — | — | 2,086 | 404 |
JPMorgan U.S. Aggregate Bond ETF (a) | 130,046 | 112,062 | 104,616 | (2,907) | (13,345) | 121,240 | 2,528 | 1,955 | 147 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 67,712 | 636,595 | 618,036 | — | — | 86,271 | 86,271 | 127 | — |
JPMorgan U.S. Value Factor ETF (a) | 112,506 | — | 113,726 | 4,434 | (3,214) | — | — | 364 | — |
Total | $1,777,847 | $1,448,075 | $1,509,728 | $(18,118) | $(246,425) | $1,451,651 | $41,689 | $8,842 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2030 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (a) | $— | $11,785 | $11,414 | $(371) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 477,892 | 38,570 | 102,184 | 465 | (89,385) | 325,358 | 6,880 | 17,432 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 94,402 | 8,979 | 47,528 | 8,079 | (9,257) | 54,675 | 623 | 1,787 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 97,586 | 17,679 | 15,491 | 697 | (21,831) | 78,640 | 1,127 | 969 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 64,510 | 26,687 | 4,573 | 204 | (19,350) | 67,478 | 1,340 | 800 | — |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | — | 178,226 | 10,505 | (895) | (8,755) | 158,071 | 21,218 | 1,274 | — |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 37,110 | 24,347 | 17,408 | (5,413) | (6,958) | 31,678 | 5,452 | 1,877 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 157,979 | 86,484 | 23,777 | (4,396) | (51,607) | 164,683 | 10,483 | 4,225 | 4,041 |
170 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2030 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | $37,151 | $1,412 | $32,596 | $(5,536) | $(431) | $— | — | $1,411 | $— |
JPMorgan Equity Index Fund Class R6 Shares (a) | 527,015 | 294,040 | 107,196 | 2,523 | (91,576) | 624,806 | 10,994 | 8,600 | 8,242 |
JPMorgan High Yield Fund Class R6 Shares (a) | 53,649 | 65,024 | 13,800 | 21 | (13,677) | 91,217 | 14,832 | 3,141 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 70,067 | 12,215 | 70,689 | (5,701) | (1,743) | 4,149 | 95 | 2,736 | — |
JPMorgan Income Fund Class R6 Shares (a) | 45,375 | 1,159 | 44,281 | (1,915) | (338) | — | — | 1,256 | — |
JPMorgan Inflation Managed Bond ETF (a) | — | 14,566 | — | — | (672) | 13,894 | 288 | 106 | — |
JPMorgan Inflation Managed Bond Fund Class R6 Shares (a) | — | 9,655 | 9,655 | — | — | — | — | 13 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 776 | — | 776 | 2 | (2) | — | — | — | — |
JPMorgan Short Duration Core Plus Fund Class R6 Shares (a) | 164,294 | 14,799 | 171,021 | (5,540) | (2,532) | — | — | 1,990 | 383 |
JPMorgan U.S. Aggregate Bond ETF (a) | 125,591 | 113,064 | 104,813 | (2,391) | (12,649) | 118,802 | 2,476 | 1,792 | 130 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 62,602 | 706,935 | 691,389 | — | — | 78,148 | 78,148 | 118 | — |
JPMorgan U.S. Value Factor ETF (a) | 129,003 | — | 130,379 | 5,025 | (3,649) | — | — | 420 | — |
Total | $2,145,002 | $1,625,626 | $1,609,475 | $(15,142) | $(334,412) | $1,811,599 | $49,947 | $12,796 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2035 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (a) | $— | $13,065 | $12,653 | $(412) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 519,020 | 45,138 | 99,385 | (2,092) | (98,101) | 364,580 | 7,709 | 19,418 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 104,627 | 8,938 | 50,708 | 8,212 | (10,195) | 60,874 | 693 | 1,936 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 105,721 | 16,342 | 8,679 | 570 | (24,582) | 89,372 | 1,281 | 1,073 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 71,138 | 29,901 | 3,709 | — | (21,513) | 75,817 | 1,506 | 887 | — |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 311,843 | 46,623 | 75,243 | (4,774) | (35,043) | 243,406 | 32,672 | 7,889 | 2,089 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 23,365 | 15,384 | 16,175 | (4,899) | (3,012) | 14,663 | 2,523 | 1,219 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 172,471 | 101,916 | 28,355 | (5,143) | (56,933) | 183,956 | 11,710 | 4,769 | 4,562 |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 23,390 | 887 | 20,770 | (3,616) | 109 | — | — | 887 | — |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 171 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2035 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Equity Index Fund Class R6 Shares (a) | $601,666 | $292,213 | $85,323 | $43 | $(101,730) | $706,869 | 12,438 | $9,700 | $9,463 |
JPMorgan High Yield Fund Class R6 Shares (a) | 40,194 | 31,135 | 21,275 | (2,059) | (7,056) | 40,939 | 6,657 | 2,237 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 55,973 | 7,508 | 43,472 | (2,495) | (3,060) | 14,454 | 331 | 2,136 | — |
JPMorgan Income Fund Class R6 Shares (a) | 17,272 | 421 | 16,936 | (658) | (99) | — | — | 450 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 607 | — | 607 | 2 | (2) | — | — | — | — |
JPMorgan U.S. Aggregate Bond ETF (a) | 65,412 | 53,296 | 28,221 | (1,552) | (7,637) | 81,298 | 1,695 | 1,083 | 82 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 42,915 | 592,980 | 549,659 | — | — | 86,236 | 86,236 | 102 | — |
JPMorgan U.S. Value Factor ETF (a) | 120,078 | — | 121,268 | 4,451 | (3,261) | — | — | 389 | — |
Total | $2,275,692 | $1,255,747 | $1,182,438 | $(14,422) | $(372,115) | $1,962,464 | $54,175 | $16,196 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2040 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (a) | $— | $13,126 | $12,713 | $(413) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 522,197 | 44,667 | 101,428 | (1,921) | (98,957) | 364,558 | 7,709 | 19,525 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 106,795 | 8,714 | 52,235 | 8,693 | (10,597) | 61,370 | 699 | 1,989 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 106,020 | 15,924 | 8,915 | 468 | (24,580) | 88,917 | 1,274 | 1,083 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 70,469 | 39,729 | 12,769 | (357) | (21,229) | 75,843 | 1,507 | 912 | — |
JPMorgan Core Bond Fund Class R6 Shares (a) | 56,804 | 8,245 | 14,636 | (1,555) | (5,352) | 43,506 | 4,108 | 1,225 | 444 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 145,846 | 45,919 | 40,726 | (2,694) | (17,980) | 130,365 | 17,499 | 3,885 | 978 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 15,648 | 7,410 | 1,080 | (287) | (5,308) | 16,383 | 2,820 | 830 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 173,746 | 105,249 | 32,192 | (5,735) | (56,986) | 184,082 | 11,717 | 4,754 | 4,547 |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 15,665 | 593 | 13,795 | (2,593) | 130 | — | — | 593 | — |
JPMorgan Equity Index Fund Class R6 Shares (a) | 619,710 | 297,470 | 97,604 | 559 | (102,392) | 717,743 | 12,630 | 9,872 | 9,522 |
JPMorgan High Yield Fund Class R6 Shares (a) | 27,335 | 22,030 | 12,997 | (368) | (5,292) | 30,708 | 4,993 | 1,582 | — |
172 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2040 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan High Yield Research Enhanced ETF (a) | $46,309 | $— | $34,803 | $(2,085) | $(1,798) | $7,623 | 175 | $1,588 | $— |
JPMorgan Income Fund Class R6 Shares (a) | 15,498 | 396 | 15,124 | (681) | (89) | — | — | 429 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 1,018 | — | 1,018 | 1 | (1) | — | — | — | — |
JPMorgan U.S. Aggregate Bond ETF (a) | 56,585 | 28,520 | 35,441 | (2,412) | (3,710) | 43,542 | 907 | 800 | 73 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 40,077 | 505,761 | 507,120 | — | — | 38,718 | 38,718 | 64 | — |
JPMorgan U.S. Value Factor ETF (a) | 107,568 | — | 108,692 | 4,024 | (2,900) | — | — | 346 | — |
Total | $2,127,290 | $1,143,753 | $1,103,288 | $(7,356) | $(357,041) | $1,803,358 | $49,477 | $15,564 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2045 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | $— | $11,617 | $11,252 | $(365) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 457,332 | 48,082 | 94,949 | (3,322) | (86,813) | 320,330 | 6,774 | 17,358 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 90,216 | 13,419 | 48,169 | 6,992 | (8,847) | 53,611 | 610 | 1,746 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 92,164 | 15,540 | 7,888 | 426 | (21,936) | 78,306 | 1,122 | 969 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 62,041 | 26,664 | 2,817 | 12 | (19,313) | 66,587 | 1,323 | 790 | — |
JPMorgan Core Bond Fund Class R6 Shares (a) | 24,512 | 902 | 5,076 | (560) | (2,190) | 17,588 | 1,661 | 502 | 181 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 48,544 | 18,899 | 6,875 | (711) | (7,156) | 52,701 | 7,074 | 1,456 | 373 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 7,684 | 3,885 | 2,697 | (690) | (1,718) | 6,464 | 1,112 | 374 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 153,541 | 91,799 | 28,016 | (5,382) | (50,394) | 161,548 | 10,283 | 4,318 | 4,130 |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 7,693 | 299 | 6,741 | (1,298) | 47 | — | — | 299 | — |
JPMorgan Equity Index Fund Class R6 Shares (a) | 556,933 | 243,715 | 77,172 | (678) | (90,975) | 631,823 | 11,118 | 8,827 | 8,669 |
JPMorgan High Yield Fund Class R6 Shares (a) | 14,598 | 4,777 | 9,453 | (301) | (1,809) | 7,812 | 1,270 | 770 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 29,243 | — | 18,546 | (1,181) | (1,706) | 7,810 | 179 | 1,060 | — |
JPMorgan Income Fund Class R6 Shares (a) | 12,130 | 309 | 11,838 | (532) | (69) | — | — | 336 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 424 | — | 424 | 1 | (1) | — | — | —(b) | — |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 173 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2045 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Aggregate Bond ETF (a) | $1,291 | $19,898 | $2,479 | $(118) | $(991) | $17,601 | 367 | $102 | $2 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) | 31,718 | 435,390 | 430,939 | — | — | 36,169 | 36,169 | 56 | — |
JPMorgan U.S. Value Factor ETF | 85,298 | — | 86,181 | 3,161 | (2,278) | — | — | 279 | — |
Total | $1,675,362 | $935,195 | $851,512 | $(4,546) | $(296,149) | $1,458,350 | $39,242 | $13,355 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | Amount rounds to less than one thousand. |
(c) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2050 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | $— | $8,979 | $8,696 | $(283) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 351,512 | 50,185 | 86,303 | (2,430) | (66,430) | 246,534 | 5,213 | 13,346 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 70,974 | 9,619 | 37,986 | 5,482 | (6,906) | 41,183 | 469 | 1,347 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 72,569 | 9,439 | 5,278 | 380 | (16,830) | 60,280 | 864 | 742 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 47,771 | 26,474 | 8,172 | (280) | (14,589) | 51,204 | 1,017 | 612 | — |
JPMorgan Core Bond Fund Class R6 Shares (a) | 18,912 | 507 | 6,640 | (690) | (1,280) | 10,809 | 1,021 | 367 | 140 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 37,453 | 10,009 | 9,504 | (1,040) | (4,529) | 32,389 | 4,347 | 1,061 | 289 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 5,918 | 2,934 | 3,351 | (705) | (899) | 3,897 | 671 | 267 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 117,034 | 76,471 | 26,731 | (4,212) | (38,275) | 124,287 | 7,911 | 3,310 | 3,166 |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 5,925 | 230 | 5,191 | (998) | 34 | — | — | 230 | — |
JPMorgan Equity Index Fund Class R6 Shares (a) | 427,884 | 199,765 | 69,653 | 154 | (69,939) | 488,211 | 8,591 | 6,784 | 6,596 |
JPMorgan High Yield Fund Class R6 Shares (a) | 11,223 | 3,946 | 8,888 | (186) | (1,262) | 4,833 | 786 | 568 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 22,628 | — | 15,622 | (1,080) | (1,091) | 4,835 | 111 | 818 | — |
JPMorgan Income Fund Class R6 Shares (a) | 9,375 | 240 | 9,149 | (412) | (54) | — | — | 260 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 1,993 | — | 1,993 | (2) | 2 | — | — | 1 | — |
JPMorgan U.S. Aggregate Bond ETF (a) | 996 | 13,115 | 2,564 | (116) | (614) | 10,817 | 225 | 66 | 1 |
174 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend 2050 Fund (continued) | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | $22,235 | $388,006 | $383,450 | $— | $— | $26,791 | 26,791 | $43 | $— |
JPMorgan U.S. Value Factor ETF | 64,876 | — | 65,590 | 2,471 | (1,757) | — | — | 202 | — |
Total | $1,289,278 | $799,919 | $754,761 | $(3,947) | $(224,419) | $1,106,070 | $30,024 | $10,192 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2055 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | $— | $4,881 | $4,728 | $(153) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 186,456 | 35,072 | 43,504 | (1,831) | (35,970) | 140,223 | 2,965 | 7,253 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 37,141 | 5,512 | 19,029 | 2,730 | (3,565) | 22,789 | 259 | 727 | — |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 37,660 | 9,632 | 3,579 | 41 | (9,040) | 34,714 | 497 | 404 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 25,251 | 14,745 | 3,728 | (230) | (7,813) | 28,225 | 561 | 334 | — |
JPMorgan Core Bond Fund Class R6 Shares (a) | 10,070 | 1,625 | 4,556 | (393) | (726) | 6,020 | 569 | 206 | 84 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 19,943 | 6,058 | 5,005 | (461) | (2,496) | 18,039 | 2,421 | 562 | 144 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 3,130 | 2,428 | 2,409 | (524) | (478) | 2,147 | 370 | 159 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 62,868 | 41,867 | 12,930 | (1,911) | (21,108) | 68,786 | 4,378 | 1,785 | 1,707 |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 3,133 | 122 | 2,759 | (507) | 11 | — | — | 122 | — |
JPMorgan Equity Index Fund Class R6 Shares (a) | 227,047 | 120,300 | 40,113 | 87 | (38,372) | 268,949 | 4,733 | 3,687 | 3,544 |
JPMorgan High Yield Fund Class R6 Shares (a) | 6,772 | 472 | 3,850 | (36) | (693) | 2,665 | 433 | 277 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 11,219 | 1,791 | 9,124 | (629) | (592) | 2,665 | 61 | 462 | — |
JPMorgan Income Fund Class R6 Shares (a) | 4,967 | 1,241 | 5,956 | (224) | (28) | — | — | 140 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 179 | — | 179 | 1 | (1) | — | — | —(b) | — |
JPMorgan U.S. Aggregate Bond ETF (a) | 530 | 7,163 | 1,269 | (57) | (342) | 6,025 | 126 | 36 | 1 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) | 13,254 | 227,077 | 225,324 | — | — | 15,007 | 15,007 | 26 | — |
JPMorgan U.S. Value Factor ETF | 34,311 | — | 34,630 | 1,273 | (954) | — | — | 96 | — |
Total | $683,931 | $479,986 | $422,672 | $(2,824) | $(122,167) | $616,254 | $16,276 | $5,480 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | Amount rounds to less than one thousand. |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 175 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
(c) | The rate shown is the current yield as of June 30, 2022. |
JPMorgan SmartRetirement® Blend 2060 Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | $— | $1,637 | $1,585 | $(52) | $— | $— | — | $— | $— |
JPMorgan BetaBuilders International Equity ETF (a) | 53,499 | 23,096 | 8,841 | (745) | (12,509) | 54,500 | 1,152 | 2,458 | — |
JPMorgan BetaBuilders MSCI US REIT ETF (a) | 10,816 | 3,958 | 5,571 | 457 | (997) | 8,663 | 99 | 234 | —(b) |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a) | 10,827 | 5,447 | 102 | (9) | (3,163) | 13,000 | 186 | 136 | — |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a) | 7,262 | 6,805 | — | — | (2,772) | 11,295 | 225 | 109 | — |
JPMorgan Core Bond Fund Class R6 Shares (a) | 2,815 | 756 | 896 | (79) | (287) | 2,309 | 218 | 65 | 26 |
JPMorgan Core Plus Bond Fund Class R6 Shares (a) | 5,574 | 2,661 | 353 | (40) | (955) | 6,887 | 924 | 181 | 46 |
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | 840 | 860 | 610 | (129) | (185) | 776 | 134 | 49 | — |
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | 17,805 | 17,963 | 2,586 | (474) | (7,004) | 25,704 | 1,636 | 566 | 533 |
JPMorgan Emerging Markets Strategic Debt Fund Class R6 Shares (a) | 840 | 182 | 864 | (159) | 1 | — | — | 37 | — |
JPMorgan Equity Index Fund Class R6 Shares (a) | 65,217 | 54,728 | 5,208 | 89 | (14,757) | 100,069 | 1,761 | 1,239 | 1,126 |
JPMorgan High Yield Fund Class R6 Shares (a) | 1,743 | 742 | 1,251 | (63) | (208) | 963 | 157 | 99 | — |
JPMorgan High Yield Research Enhanced ETF (a) | 3,347 | 583 | 2,581 | (178) | (208) | 963 | 22 | 136 | — |
JPMorgan Income Fund Class R6 Shares (a) | 1,425 | 37 | 1,391 | (63) | (8) | — | — | 39 | — |
JPMorgan Managed Income Fund Class L Shares (a) | 161 | — | 161 | —(b) | —(b) | — | — | —(b) | — |
JPMorgan U.S. Aggregate Bond ETF (a) | 148 | 3,522 | 1,238 | 2 | (130) | 2,304 | 48 | 12 | —(b) |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (c) | 3,949 | 106,526 | 98,519 | — | — | 11,956 | 11,956 | 14 | — |
JPMorgan U.S. Value Factor ETF | 10,073 | — | 10,177 | 367 | (263) | — | — | 29 | — |
Total | $196,341 | $229,503 | $141,934 | $(1,076) | $(43,445) | $239,389 | $5,403 | $1,731 |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | Amount rounds to less than one thousand. |
(c) | The rate shown is the current yield as of June 30, 2022. |
176 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund | JPMorgan SmartRetirement® Blend 2020 Fund | JPMorgan SmartRetirement® Blend 2025 Fund | |
Futures Contracts: | ||||
Average Notional Balance Long | $37,894 | $2,220 | $68,539 | $154,793 |
Average Notional Balance Short | (10,237) | (503) | (19,827) | (28,633) |
Ending Notional Balance Long | — | — | — | 26,762 |
Ending Notional Balance Short | (18,075) | (494) | (30,325) | (28,080) |
JPMorgan SmartRetirement® Blend 2030 Fund | JPMorgan SmartRetirement® Blend 2035 Fund | JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | |
Futures Contracts: | ||||
Average Notional Balance Long | $169,387 | $101,865 | $91,437 | $71,321 |
Average Notional Balance Short | (35,432) | (43,043) | (40,423) | (32,117) |
Ending Notional Balance Long | 32,076 | 30,178 | 22,396 | 18,031 |
Ending Notional Balance Short | (33,447) | (29,592) | (36,714) | (29,451) |
JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | JPMorgan SmartRetirement® Blend 2060 Fund | |
Futures Contracts: | |||
Average Notional Balance Long | $55,667 | $30,991 | $9,799 |
Average Notional Balance Short | (25,028) | (13,464) | (3,904) |
Ending Notional Balance Long | 13,666 | 7,592 | 6,453 |
Ending Notional Balance Short | (22,372) | (12,246) | (3,634) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 177 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund | JPMorgan SmartRetirement® Blend 2020 Fund | JPMorgan SmartRetirement® Blend 2025 Fund | JPMorgan SmartRetirement® Blend 2030 Fund | |
Equity Risk Exposure: | |||||
Unrealized Appreciation on Futures Contracts * | $91 | $—** | $220 | $11 | $13 |
Unrealized Depreciation on Futures Contracts * | (90) | (5) | (199) | (1,144) | (1,372) |
Net Fair Value of Derivative Contracts: | |||||
Unrealized Appreciation (Depreciation) on Futures Contracts * | 1 | (5) | 21 | (1,133) | (1,359) |
JPMorgan SmartRetirement® Blend 2035 Fund | JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | |
Equity Risk Exposure: | |||||
Unrealized Appreciation on Futures Contracts * | $15 | $36 | $29 | $22 | $12 |
Unrealized Depreciation on Futures Contracts * | (1,290) | (1,257) | (1,008) | (763) | (421) |
Net Fair Value of Derivative Contracts: | |||||
Unrealized Appreciation (Depreciation) on Futures Contracts * | (1,275) | (1,221) | (979) | (741) | (409) |
JPMorgan SmartRetirement® Blend 2060 Fund | |
Equity Risk Exposure: | |
Unrealized Appreciation on Futures Contracts * | $5 |
Unrealized Depreciation on Futures Contracts * | (123) |
Net Fair Value of Derivative Contracts: | |
Unrealized Appreciation (Depreciation) on Futures Contracts * | (118) |
* | Includes cumulative appreciation/(depreciation) on futures contracts, if any, as reported on the SOIs. Only current day’s variation margin is reported within the Statements of Assets and Liabilities. |
** | Amount rounds to less than one thousand. |
178 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
JPMorgan SmartRetirement® Blend Income Fund | JPMorgan SmartRetirement® Blend 2015 Fund | JPMorgan SmartRetirement® Blend 2020 Fund | JPMorgan SmartRetirement® Blend 2025 Fund | JPMorgan SmartRetirement® Blend 2030 Fund | |
Realized Gain (Loss) on Derivatives Recognized as a Result From Operations: | |||||
Equity Risk Exposure: | |||||
Futures Contracts | $(864) | $(129) | $(1,410) | $(4,929) | $(5,984) |
Interest Rate Risk Exposure: | |||||
Futures Contracts | (2,888) | (153) | (5,327) | (8,678) | (9,538) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations: | |||||
Equity Risk Exposure: | |||||
Futures Contracts | 133 | 36 | 275 | (1,366) | (1,676) |
Interest Rate Risk Exposure: | |||||
Futures Contracts | 308 | 15 | 626 | 917 | 1,163 |
JPMorgan SmartRetirement® Blend 2035 Fund | JPMorgan SmartRetirement® Blend 2040 Fund | JPMorgan SmartRetirement® Blend 2045 Fund | JPMorgan SmartRetirement® Blend 2050 Fund | JPMorgan SmartRetirement® Blend 2055 Fund | |
Realized Gain (Loss) on Derivatives Recognized as a Result From Operations: | |||||
Equity Risk Exposure: | |||||
Futures Contracts | $(5,747) | $(4,455) | $(3,581) | $(2,637) | $(1,722) |
Interest Rate Risk Exposure: | |||||
Futures Contracts | (2,876) | (2,556) | (2,097) | (1,619) | (860) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations: | |||||
Equity Risk Exposure: | |||||
Futures Contracts | (1,537) | (1,461) | (1,164) | (906) | (485) |
Interest Rate Risk Exposure: | |||||
Futures Contracts | 1,225 | 1,072 | 864 | 667 | 354 |
JPMorgan SmartRetirement® Blend 2060 Fund | |
Realized Gain (Loss) on Derivatives Recognized as a Result From Operations: | |
Equity Risk Exposure: | |
Futures Contracts | $(702) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 179 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement® Blend 2060 Fund | |
Interest Rate Risk Exposure: | |
Futures Contracts | $(229) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations: | |
Equity Risk Exposure: | |
Futures Contracts | (139) |
Interest Rate Risk Exposure: | |
Futures Contracts | 99 |
Class A | Class I | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | Total | |
JPMorgan SmartRetirement�� Blend Income Fund | ||||||||
Transfer agency fees | n/a | $—(a) | $—(a) | $—(a) | $—(a) | $1 | $9 | $10 |
JPMorgan SmartRetirement® Blend 2015 Fund | ||||||||
Transfer agency fees | $—(a) | —(a) | —(a) | —(a) | —(a) | —(a) | —(a) | —(a) |
JPMorgan SmartRetirement® Blend 2020 Fund | ||||||||
Transfer agency fees | n/a | —(a) | —(a) | —(a) | —(a) | 1 | 13 | 14 |
JPMorgan SmartRetirement® Blend 2025 Fund | ||||||||
Transfer agency fees | n/a | 1 | —(a) | 2 | —(a) | 1 | 19 | 23 |
JPMorgan SmartRetirement® Blend 2030 Fund | ||||||||
Transfer agency fees | n/a | —(a) | —(a) | 1 | —(a) | 1 | 23 | 25 |
JPMorgan SmartRetirement® Blend 2035 Fund | ||||||||
Transfer agency fees | n/a | 1 | —(a) | —(a) | —(a) | 1 | 21 | 23 |
JPMorgan SmartRetirement® Blend 2040 Fund | ||||||||
Transfer agency fees | n/a | 1 | —(a) | —(a) | —(a) | 1 | 28 | 30 |
JPMorgan SmartRetirement® Blend 2045 Fund | ||||||||
Transfer agency fees | n/a | —(a) | —(a) | 1 | —(a) | 1 | 17 | 19 |
JPMorgan SmartRetirement® Blend 2050 Fund | ||||||||
Transfer agency fees | n/a | —(a) | —(a) | —(a) | —(a) | 1 | 15 | 16 |
180 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Class A | Class I | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | Total | |
JPMorgan SmartRetirement® Blend 2055 Fund | ||||||||
Transfer agency fees | n/a | $—(a) | $—(a) | $—(a) | $—(a) | $1 | $11 | $12 |
JPMorgan SmartRetirement® Blend 2060 Fund | ||||||||
Transfer agency fees | n/a | —(a) | —(a) | —(a) | —(a) | 1 | 7 | 8 |
(a) | Amount rounds to less than one thousand. |
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
JPMorgan SmartRetirement® Blend Income Fund | $— | $484 | $(484) |
JPMorgan SmartRetirement® Blend 2015 Fund | — | 12 | (12) |
JPMorgan SmartRetirement® Blend 2020 Fund | — | 857 | (857) |
JPMorgan SmartRetirement® Blend 2025 Fund | — | 2,412 | (2,412) |
JPMorgan SmartRetirement® Blend 2030 Fund | — | 3,907 | (3,907) |
JPMorgan SmartRetirement® Blend 2035 Fund | — | 4,938 | (4,938) |
JPMorgan SmartRetirement® Blend 2040 Fund | — | 5,075 | (5,075) |
JPMorgan SmartRetirement® Blend 2045 Fund | — | 4,718 | (4,718) |
JPMorgan SmartRetirement® Blend 2050 Fund | — | 3,590 | (3,590) |
JPMorgan SmartRetirement® Blend 2055 Fund | — | 1,935 | (1,935) |
JPMorgan SmartRetirement® Blend 2060 Fund | — | 632 | (632) |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 181 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Class R2 | Class R3 | |
0.50% | 0.25% |
Class I | Class R2 | Class R3 | Class R4 | Class R5 | |
0.25% | 0.25% | 0.25% | 0.25% | 0.10% |
Class I | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | |
0.44% | 0.94% | 0.69% | 0.44% | 0.29% | 0.19% |
182 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Contractual Waivers | |||||
Investment Advisory Fees | Administration Fees | Service Fees | Total | Contractual Reimbursements | |
JPMorgan SmartRetirement® Blend Income Fund | $1,036 | $191 | $1 | $1,228 | $381 |
JPMorgan SmartRetirement® Blend 2015 Fund | 45 | 23 | —(a) | 68 | 189 |
JPMorgan SmartRetirement® Blend 2020 Fund | 1,918 | 302 | 1 | 2,221 | 614 |
JPMorgan SmartRetirement® Blend 2025 Fund | 3,201 | 440 | 3 | 3,644 | 573 |
JPMorgan SmartRetirement® Blend 2030 Fund | 3,744 | 511 | 2 | 4,257 | 193 |
JPMorgan SmartRetirement® Blend 2035 Fund | 3,472 | 475 | 1 | 3,948 | 696 |
JPMorgan SmartRetirement® Blend 2040 Fund | 3,115 | 434 | 2 | 3,551 | 414 |
JPMorgan SmartRetirement® Blend 2045 Fund | 2,498 | 372 | 1 | 2,871 | 31 |
JPMorgan SmartRetirement® Blend 2050 Fund | 1,914 | 303 | 1 | 2,218 | 45 |
JPMorgan SmartRetirement® Blend 2055 Fund | 1,035 | 198 | 1 | 1,234 | 77 |
JPMorgan SmartRetirement® Blend 2060 Fund | 335 | 125 | 1 | 461 | 127 |
(a) | Amount rounds to less than one thousand. |
JPMorgan SmartRetirement® Blend Income Fund | $1 |
JPMorgan SmartRetirement® Blend 2015 Fund | 1 |
JPMorgan SmartRetirement® Blend 2020 Fund | 1 |
JPMorgan SmartRetirement® Blend 2025 Fund | 1 |
JPMorgan SmartRetirement® Blend 2030 Fund | 1 |
JPMorgan SmartRetirement® Blend 2035 Fund | 1 |
JPMorgan SmartRetirement® Blend 2040 Fund | 1 |
JPMorgan SmartRetirement® Blend 2045 Fund | 1 |
JPMorgan SmartRetirement® Blend 2050 Fund | 1 |
JPMorgan SmartRetirement® Blend 2055 Fund | 1 |
JPMorgan SmartRetirement® Blend 2060 Fund | 1 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 183 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | Purchases of U.S. Government | Sales of U.S. Government | |
JPMorgan SmartRetirement® Blend Income Fund | $322,782 | $418,505 | $29,628 | $44,925 |
JPMorgan SmartRetirement® Blend 2015 Fund | 14,844 | 15,285 | 1,631 | 2,251 |
JPMorgan SmartRetirement® Blend 2020 Fund | 614,755 | 847,993 | 62,932 | 104,393 |
JPMorgan SmartRetirement® Blend 2025 Fund | 958,243 | 1,105,218 | 78,639 | 125,331 |
JPMorgan SmartRetirement® Blend 2030 Fund | 1,117,826 | 1,173,669 | 81,651 | 114,783 |
JPMorgan SmartRetirement® Blend 2035 Fund | 712,299 | 685,316 | 25,704 | 34,967 |
JPMorgan SmartRetirement® Blend 2040 Fund | 637,992 | 596,167 | 8,278 | 10,434 |
JPMorgan SmartRetirement® Blend 2045 Fund | 499,805 | 420,573 | 6,267 | 7,704 |
JPMorgan SmartRetirement® Blend 2050 Fund | 411,913 | 371,310 | 4,951 | 5,980 |
JPMorgan SmartRetirement® Blend 2055 Fund | 252,909 | 197,348 | 2,796 | 3,316 |
JPMorgan SmartRetirement® Blend 2060 Fund | 122,976 | 43,414 | 1,068 | 1,224 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
JPMorgan SmartRetirement® Blend Income Fund | $593,060 | $12,108 | $36,504 | $(24,396) |
JPMorgan SmartRetirement® Blend 2015 Fund | 28,222 | 211 | 1,809 | (1,598) |
JPMorgan SmartRetirement® Blend 2020 Fund | 1,070,396 | 23,725 | 66,086 | (42,361) |
JPMorgan SmartRetirement® Blend 2025 Fund | 1,865,413 | 65,512 | 114,169 | (48,657) |
JPMorgan SmartRetirement® Blend 2030 Fund | 2,192,888 | 97,012 | 118,318 | (21,306) |
JPMorgan SmartRetirement® Blend 2035 Fund | 2,066,773 | 93,471 | 112,551 | (19,080) |
JPMorgan SmartRetirement® Blend 2040 Fund | 1,789,901 | 99,099 | 81,983 | 17,116 |
JPMorgan SmartRetirement® Blend 2045 Fund | 1,440,959 | 81,844 | 61,450 | 20,394 |
JPMorgan SmartRetirement® Blend 2050 Fund | 1,086,068 | 63,993 | 41,642 | 22,351 |
JPMorgan SmartRetirement® Blend 2055 Fund | 608,517 | 32,287 | 23,114 | 9,173 |
JPMorgan SmartRetirement® Blend 2060 Fund | 251,684 | 2,720 | 14,351 | (11,631) |
184 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
JPMorgan SmartRetirement® Blend Income Fund | $15,071 | $14,104 | $29,175 |
JPMorgan SmartRetirement® Blend 2015 Fund | 753 | 994 | 1,747 |
JPMorgan SmartRetirement® Blend 2020 Fund | 28,873 | 35,583 | 64,456 |
JPMorgan SmartRetirement® Blend 2025 Fund | 57,774 | 37,926 | 95,700 |
JPMorgan SmartRetirement® Blend 2030 Fund | 66,515 | 46,835 | 113,350 |
JPMorgan SmartRetirement® Blend 2035 Fund | 66,877 | 45,771 | 112,648 |
JPMorgan SmartRetirement® Blend 2040 Fund | 59,484 | 44,429 | 103,913 |
JPMorgan SmartRetirement® Blend 2045 Fund | 47,804 | 28,674 | 76,478 |
JPMorgan SmartRetirement® Blend 2050 Fund | 33,950 | 25,829 | 59,779 |
JPMorgan SmartRetirement® Blend 2055 Fund | 19,998 | 12,743 | 32,741 |
JPMorgan SmartRetirement® Blend 2060 Fund | 5,630 | 3,072 | 8,702 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
JPMorgan SmartRetirement® Blend Income Fund | $14,363 | $15,542 | $29,905 |
JPMorgan SmartRetirement® Blend 2015 Fund | 600 | — | 600 |
JPMorgan SmartRetirement® Blend 2020 Fund | 27,919 | 29,235 | 57,154 |
JPMorgan SmartRetirement® Blend 2025 Fund | 38,693 | 33,244 | 71,937 |
JPMorgan SmartRetirement® Blend 2030 Fund | 41,859 | 22,445 | 64,304 |
JPMorgan SmartRetirement® Blend 2035 Fund | 39,591 | 1,475 | 41,066 |
JPMorgan SmartRetirement® Blend 2040 Fund | 33,972 | — | 33,972 |
JPMorgan SmartRetirement® Blend 2045 Fund | 24,897 | — | 24,897 |
JPMorgan SmartRetirement® Blend 2050 Fund | 19,445 | — | 19,445 |
JPMorgan SmartRetirement® Blend 2055 Fund | 10,154 | — | 10,154 |
JPMorgan SmartRetirement® Blend 2060 Fund | 2,647 | 17 | 2,664 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 185 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Current Distributable Ordinary Income | Unrealized Appreciation (Depreciation) | |
JPMorgan SmartRetirement® Blend Income Fund | $6,949 | $(24,753) |
JPMorgan SmartRetirement® Blend 2015 Fund | 283 | (1,837) |
JPMorgan SmartRetirement® Blend 2020 Fund | 12,686 | (42,972) |
JPMorgan SmartRetirement® Blend 2025 Fund | 20,884 | (49,408) |
JPMorgan SmartRetirement® Blend 2030 Fund | 23,392 | (22,151) |
JPMorgan SmartRetirement® Blend 2035 Fund | 22,016 | (19,685) |
JPMorgan SmartRetirement® Blend 2040 Fund | 18,803 | 16,219 |
JPMorgan SmartRetirement® Blend 2045 Fund | 14,348 | 19,695 |
JPMorgan SmartRetirement® Blend 2050 Fund | 10,872 | 21,836 |
JPMorgan SmartRetirement® Blend 2055 Fund | 6,003 | 8,884 |
JPMorgan SmartRetirement® Blend 2060 Fund | 2,207 | (11,705) |
Net Capital Losses (Gains) | Specified Ordinary Losses | ||
Short-Term | Long-Term | ||
JPMorgan SmartRetirement® Blend Income Fund | $3,685 | $10,191 | $23 |
JPMorgan SmartRetirement® Blend 2015 Fund | 212 | 427 | 4 |
JPMorgan SmartRetirement® Blend 2020 Fund | 6,572 | 19,155 | 31 |
JPMorgan SmartRetirement® Blend 2025 Fund | 11,654 | 30,945 | 80 |
JPMorgan SmartRetirement® Blend 2030 Fund | 12,431 | 29,315 | 40 |
JPMorgan SmartRetirement® Blend 2035 Fund | 10,762 | 10,473 | 32 |
JPMorgan SmartRetirement® Blend 2040 Fund | 7,089 | 2,980 | 57 |
JPMorgan SmartRetirement® Blend 2045 Fund | 7,096 | (1,317) | 64 |
JPMorgan SmartRetirement® Blend 2050 Fund | 5,451 | (766) | 44 |
JPMorgan SmartRetirement® Blend 2055 Fund | 3,573 | (749) | 23 |
JPMorgan SmartRetirement® Blend 2060 Fund | 985 | (45) | 15 |
186 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Number of Individual Shareholder and/or Affiliated Omnibus Accounts | % of the Fund | Number of Individual Shareholder and/or Non-Affiliated Omnibus Accounts | % of the Fund | |
JPMorgan SmartRetirement® Blend Income Fund | — | —% | 2 | 54.6% |
JPMorgan SmartRetirement® Blend 2015 Fund | 1 | 96.5 | — | — |
JPMorgan SmartRetirement® Blend 2020 Fund | — | — | 2 | 60.7 |
JPMorgan SmartRetirement® Blend 2025 Fund | — | — | 2 | 59.4 |
JPMorgan SmartRetirement® Blend 2030 Fund | — | — | 2 | 58.8 |
JPMorgan SmartRetirement® Blend 2035 Fund | — | — | 2 | 63.0 |
JPMorgan SmartRetirement® Blend 2040 Fund | — | — | 2 | 63.2 |
JPMorgan SmartRetirement® Blend 2045 Fund | — | — | 2 | 63.9 |
JPMorgan SmartRetirement® Blend 2050 Fund | — | — | 2 | 61.8 |
JPMorgan SmartRetirement® Blend 2055 Fund | — | — | 2 | 58.4 |
JPMorgan SmartRetirement® Blend 2060 Fund | — | — | 2 | 49.5 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 187 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
% of Net Assets | |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | 99.1% |
JPMorgan BetaBuilders International Equity ETF | 82.2 |
JPMorgan Equity Index Fund | 58.6 |
JPMorgan U.S. Aggregate Bond ETF | 46.6 |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 39.1 |
JPMorgan Emerging Markets Research Enhanced Equity Fund | 38.0 |
JPMorgan BetaBuilders MSCI US REIT ETF | 32.6 |
JPMorgan Inflation Managed Bond ETF | 19.8 |
JPMorgan Emerging Markets Debt Fund | 16.5 |
JPMorgan High Yield Research Enhanced ETF | 13.8 |
188 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 189 |
190 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
(Unaudited)
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 167 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present) |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered brokerdealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 167 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 167 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 167 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America U.S. Holdings (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 167 | None |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 191 |
(Unaudited) (continued)
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 167 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director & Chief Investment Officer, IBM Retirement Funds (2007-2016). | 167 | Advisory Board Member, Penso Advisors LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 167 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 167 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 167 | None |
Marilyn McCoy (1948); Trustee since 2005. | Vice President of Administration and Planning, Northwestern University (1985-present). | 167 | None |
192 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Dr. Robert A. Oden, Jr. (1946); Trustee since 2005. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 167 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021);Trustee, Dartmouth- Hitchcock MedicalCenter (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 167 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2022. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 167 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of the Global ETF Business for JPMorgan Asset Management (2013-2017); Head of the Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 167 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 167 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee(2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the Mutual Fund Board, the ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board’s current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (167 J.P. Morgan Funds). |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 193 |
(Unaudited) (continued)
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. | ||
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
194 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
(Unaudited)
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2016)* | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2018) | Executive Director, J.P. Morgan Investment Management Inc. since February 2016. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2019) (formerly Assistant Secretary 2010-2019)** | Managing Director and Assistant General Counsel, JPMorgan Chase. Mr. Samuels has been with JPMorgan Chase since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2005) | Managing Director, JPMorgan Chase & Co.; Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021)** | Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 to June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)*** | Vice President and Assistant General Counsel, JPMorgan Chase since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Elizabeth A. Davin (1964), Assistant Secretary (2005)*** | Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Davin has been with JPMorgan Chase (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2005)*** | Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Ditullio has been with JPMorgan Chase (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2018)** | Vice President and Assistant General Counsel, JPMorgan Chase since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2011)** | Executive Director and Assistant General Counsel, JPMorgan Chase. Mr. Lekstutis has been with JPMorgan Chase since 2011. |
Max Vogel (1990), Assistant Secretary (2021)** | Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021; Associate, Stroock & Stroock & Lavan LLP (law firm) from October 2015 to March 2017. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017)** | Vice President and Assistant General Counsel, JPMorgan Chase since September 2016. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2012) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2019) | Vice President, J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2018)*** | Vice President, J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2017)*** | Vice President, J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2020) | Vice President, J.P. Morgan Investment Management Inc. since 2014. |
Joseph Parascondola (1963), Assistant Treasurer (2011)* | Executive Director, J.P. Morgan Investment Management, Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2012) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since 2012. |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 195 |
(Unaudited) (continued)
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
** | The contact address for the officer is 4 New York Plaza, New York, NY 10004. |
*** | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
196 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
(Unaudited)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan SmartRetirement® Blend Income Fund | ||||
Class I | ||||
Actual | $1,000.00 | $861.00 | $1.20 | 0.26% |
Hypothetical | 1,000.00 | 1,023.51 | 1.30 | 0.26 |
Class R2 | ||||
Actual | 1,000.00 | 858.70 | 3.59 | 0.78 |
Hypothetical | 1,000.00 | 1,020.93 | 3.91 | 0.78 |
Class R3 | ||||
Actual | 1,000.00 | 859.90 | 2.44 | 0.53 |
Hypothetical | 1,000.00 | 1,022.17 | 2.66 | 0.53 |
Class R4 | ||||
Actual | 1,000.00 | 860.50 | 1.29 | 0.28 |
Hypothetical | 1,000.00 | 1,023.41 | 1.40 | 0.28 |
Class R5 | ||||
Actual | 1,000.00 | 861.50 | 0.60 | 0.13 |
Hypothetical | 1,000.00 | 1,024.15 | 0.65 | 0.13 |
Class R6 | ||||
Actual | 1,000.00 | 861.60 | 0.14 | 0.03 |
Hypothetical | 1,000.00 | 1,024.65 | 0.15 | 0.03 |
JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpendingSM 2015 Fund) | ||||
Class I | ||||
Actual | 1,000.00 | 860.40 | 1.25 | 0.27 |
Hypothetical | 1,000.00 | 1,023.46 | 1.35 | 0.27 |
Class R2 | ||||
Actual | 1,000.00 | 858.40 | 3.55 | 0.77 |
Hypothetical | 1,000.00 | 1,020.98 | 3.86 | 0.77 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 197 |
(Unaudited) (continued)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan SmartRetirement® Blend 2015 Fund (formerly known as JPMorgan SmartSpendingSM 2015 Fund) (continued) | ||||
Class R3 | ||||
Actual | $1,000.00 | $859.60 | $2.40 | 0.52% |
Hypothetical | 1,000.00 | 1,022.22 | 2.61 | 0.52 |
Class R4 | ||||
Actual | 1,000.00 | 861.00 | 1.25 | 0.27 |
Hypothetical | 1,000.00 | 1,023.46 | 1.35 | 0.27 |
Class R5 | ||||
Actual | 1,000.00 | 861.10 | 0.55 | 0.12 |
Hypothetical | 1,000.00 | 1,024.20 | 0.60 | 0.12 |
Class R6 | ||||
Actual | 1,000.00 | 861.70 | 0.09 | 0.02 |
Hypothetical | 1,000.00 | 1,024.70 | 0.10 | 0.02 |
JPMorgan SmartRetirement® Blend 2020 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 860.50 | 1.29 | 0.28 |
Hypothetical | 1,000.00 | 1,023.41 | 1.40 | 0.28 |
Class R2 | ||||
Actual | 1,000.00 | 858.50 | 3.59 | 0.78 |
Hypothetical | 1,000.00 | 1,020.93 | 3.91 | 0.78 |
Class R3 | ||||
Actual | 1,000.00 | 859.40 | 2.44 | 0.53 |
Hypothetical | 1,000.00 | 1,022.17 | 2.66 | 0.53 |
Class R4 | ||||
Actual | 1,000.00 | 860.60 | 1.29 | 0.28 |
Hypothetical | 1,000.00 | 1,023.41 | 1.40 | 0.28 |
Class R5 | ||||
Actual | 1,000.00 | 861.00 | 0.60 | 0.13 |
Hypothetical | 1,000.00 | 1,024.15 | 0.65 | 0.13 |
Class R6 | ||||
Actual | 1,000.00 | 861.50 | 0.14 | 0.03 |
Hypothetical | 1,000.00 | 1,024.65 | 0.15 | 0.03 |
JPMorgan SmartRetirement® Blend 2025 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 842.80 | 1.37 | 0.30 |
Hypothetical | 1,000.00 | 1,023.31 | 1.51 | 0.30 |
Class R2 | ||||
Actual | 1,000.00 | 840.60 | 3.65 | 0.80 |
Hypothetical | 1,000.00 | 1,020.83 | 4.01 | 0.80 |
Class R3 | ||||
Actual | 1,000.00 | 841.70 | 2.51 | 0.55 |
Hypothetical | 1,000.00 | 1,022.07 | 2.76 | 0.55 |
Class R4 | ||||
Actual | 1,000.00 | 842.90 | 1.37 | 0.30 |
Hypothetical | 1,000.00 | 1,023.31 | 1.51 | 0.30 |
Class R5 | ||||
Actual | 1,000.00 | 843.20 | 0.64 | 0.14 |
Hypothetical | 1,000.00 | 1,024.10 | 0.70 | 0.14 |
Class R6 | ||||
Actual | 1,000.00 | 843.70 | 0.18 | 0.04 |
Hypothetical | 1,000.00 | 1,024.60 | 0.20 | 0.04 |
198 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan SmartRetirement® Blend 2030 Fund | ||||
Class I | ||||
Actual | $1,000.00 | $829.30 | $1.41 | 0.31% |
Hypothetical | 1,000.00 | 1,023.26 | 1.56 | 0.31 |
Class R2 | ||||
Actual | 1,000.00 | 827.40 | 3.67 | 0.81 |
Hypothetical | 1,000.00 | 1,020.78 | 4.06 | 0.81 |
Class R3 | ||||
Actual | 1,000.00 | 828.40 | 2.58 | 0.57 |
Hypothetical | 1,000.00 | 1,021.97 | 2.86 | 0.57 |
Class R4 | ||||
Actual | 1,000.00 | 829.40 | 1.41 | 0.31 |
Hypothetical | 1,000.00 | 1,023.26 | 1.56 | 0.31 |
Class R5 | ||||
Actual | 1,000.00 | 830.00 | 0.73 | 0.16 |
Hypothetical | 1,000.00 | 1,024.00 | 0.80 | 0.16 |
Class R6 | ||||
Actual | 1,000.00 | 830.80 | 0.27 | 0.06 |
Hypothetical | 1,000.00 | 1,024.50 | 0.30 | 0.06 |
JPMorgan SmartRetirement® Blend 2035 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 819.10 | 1.31 | 0.29 |
Hypothetical | 1,000.00 | 1,023.36 | 1.45 | 0.29 |
Class R2 | ||||
Actual | 1,000.00 | 817.50 | 3.56 | 0.79 |
Hypothetical | 1,000.00 | 1,020.88 | 3.96 | 0.79 |
Class R3 | ||||
Actual | 1,000.00 | 818.40 | 2.48 | 0.55 |
Hypothetical | 1,000.00 | 1,022.07 | 2.76 | 0.55 |
Class R4 | ||||
Actual | 1,000.00 | 819.20 | 1.31 | 0.29 |
Hypothetical | 1,000.00 | 1,023.36 | 1.45 | 0.29 |
Class R5 | ||||
Actual | 1,000.00 | 819.90 | 0.63 | 0.14 |
Hypothetical | 1,000.00 | 1,024.10 | 0.70 | 0.14 |
Class R6 | ||||
Actual | 1,000.00 | 820.30 | 0.18 | 0.04 |
Hypothetical | 1,000.00 | 1,024.60 | 0.20 | 0.04 |
JPMorgan SmartRetirement® Blend 2040 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 811.30 | 1.39 | 0.31 |
Hypothetical | 1,000.00 | 1,023.26 | 1.56 | 0.31 |
Class R2 | ||||
Actual | 1,000.00 | 809.30 | 3.59 | 0.80 |
Hypothetical | 1,000.00 | 1,020.83 | 4.01 | 0.80 |
Class R3 | ||||
Actual | 1,000.00 | 810.40 | 2.51 | 0.56 |
Hypothetical | 1,000.00 | 1,022.02 | 2.81 | 0.56 |
Class R4 | ||||
Actual | 1,000.00 | 811.20 | 1.39 | 0.31 |
Hypothetical | 1,000.00 | 1,023.26 | 1.56 | 0.31 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 199 |
(Unaudited) (continued)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan SmartRetirement® Blend 2040 Fund (continued) | ||||
Class R5 | ||||
Actual | $1,000.00 | $812.00 | $0.67 | 0.15% |
Hypothetical | 1,000.00 | 1,024.05 | 0.75 | 0.15 |
Class R6 | ||||
Actual | 1,000.00 | 812.30 | 0.27 | 0.06 |
Hypothetical | 1,000.00 | 1,024.50 | 0.30 | 0.06 |
JPMorgan SmartRetirement® Blend 2045 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 804.60 | 1.48 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
Class R2 | ||||
Actual | 1,000.00 | 802.90 | 3.71 | 0.83 |
Hypothetical | 1,000.00 | 1,020.68 | 4.16 | 0.83 |
Class R3 | ||||
Actual | 1,000.00 | 803.70 | 2.59 | 0.58 |
Hypothetical | 1,000.00 | 1,021.92 | 2.91 | 0.58 |
Class R4 | ||||
Actual | 1,000.00 | 804.60 | 1.48 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
Class R5 | ||||
Actual | 1,000.00 | 805.30 | 0.81 | 0.18 |
Hypothetical | 1,000.00 | 1,023.90 | 0.90 | 0.18 |
Class R6 | ||||
Actual | 1,000.00 | 805.80 | 0.36 | 0.08 |
Hypothetical | 1,000.00 | 1,024.40 | 0.40 | 0.08 |
JPMorgan SmartRetirement® Blend 2050 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 804.00 | 1.48 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
Class R2 | ||||
Actual | 1,000.00 | 802.20 | 3.71 | 0.83 |
Hypothetical | 1,000.00 | 1,020.68 | 4.16 | 0.83 |
Class R3 | ||||
Actual | 1,000.00 | 803.00 | 2.59 | 0.58 |
Hypothetical | 1,000.00 | 1,021.92 | 2.91 | 0.58 |
Class R4 | ||||
Actual | 1,000.00 | 804.20 | 1.48 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
Class R5 | ||||
Actual | 1,000.00 | 804.80 | 0.81 | 0.18 |
Hypothetical | 1,000.00 | 1,023.90 | 0.90 | 0.18 |
Class R6 | ||||
Actual | 1,000.00 | 805.30 | 0.36 | 0.08 |
Hypothetical | 1,000.00 | 1,024.40 | 0.40 | 0.08 |
JPMorgan SmartRetirement® Blend 2055 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 804.90 | 1.48 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
Class R2 | ||||
Actual | 1,000.00 | 802.90 | 3.71 | 0.83 |
Hypothetical | 1,000.00 | 1,020.68 | 4.16 | 0.83 |
200 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan SmartRetirement® Blend 2055 Fund (continued) | ||||
Class R3 | ||||
Actual | $1,000.00 | $803.70 | $2.59 | 0.58% |
Hypothetical | 1,000.00 | 1,021.92 | 2.91 | 0.58 |
Class R4 | ||||
Actual | 1,000.00 | 805.00 | 1.48 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
Class R5 | ||||
Actual | 1,000.00 | 805.50 | 0.81 | 0.18 |
Hypothetical | 1,000.00 | 1,023.90 | 0.90 | 0.18 |
Class R6 | ||||
Actual | 1,000.00 | 805.70 | 0.36 | 0.08 |
Hypothetical | 1,000.00 | 1,024.40 | 0.40 | 0.08 |
JPMorgan SmartRetirement® Blend 2060 Fund | ||||
Class I | ||||
Actual | 1,000.00 | 805.70 | 1.52 | 0.34 |
Hypothetical | 1,000.00 | 1,023.11 | 1.71 | 0.34 |
Class R2 | ||||
Actual | 1,000.00 | 803.30 | 3.71 | 0.83 |
Hypothetical | 1,000.00 | 1,020.68 | 4.16 | 0.83 |
Class R3 | ||||
Actual | 1,000.00 | 804.40 | 2.59 | 0.58 |
Hypothetical | 1,000.00 | 1,021.92 | 2.91 | 0.58 |
Class R4 | ||||
Actual | 1,000.00 | 805.50 | 1.48 | 0.33 |
Hypothetical | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
Class R5 | ||||
Actual | 1,000.00 | 805.90 | 0.81 | 0.18 |
Hypothetical | 1,000.00 | 1,023.90 | 0.90 | 0.18 |
Class R6 | ||||
Actual | 1,000.00 | 806.40 | 0.36 | 0.08 |
Hypothetical | 1,000.00 | 1,024.40 | 0.40 | 0.08 |
* | Expenses are equal to each Class’ respective annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 201 |
(Unaudited)
202 | JPMorgan SmartRetirement® Blend Funds | June 30, 2022 |
(Unaudited)
(Dollar values in thousands)
Dividends Received Deduction | |
JPMorgan SmartRetirement® Blend Income Fund | 7.11% |
JPMorgan SmartRetirement® Blend 2020 Fund | 7.07 |
JPMorgan SmartRetirement® Blend 2025 Fund | 8.35 |
JPMorgan SmartRetirement® Blend 2030 Fund | 10.86 |
JPMorgan SmartRetirement® Blend 2035 Fund | 12.22 |
JPMorgan SmartRetirement® Blend 2040 Fund | 13.99 |
JPMorgan SmartRetirement® Blend 2045 Fund | 15.85 |
JPMorgan SmartRetirement® Blend 2050 Fund | 16.78 |
JPMorgan SmartRetirement® Blend 2055 Fund | 15.47 |
JPMorgan SmartRetirement® Blend 2060 Fund | 16.71 |
Long-Term Capital Gain Distribution | |
JPMorgan SmartRetirement® Blend Income Fund | $14,104 |
JPMorgan SmartRetirement® Blend 2015 Fund | 994 |
JPMorgan SmartRetirement® Blend 2020 Fund | 35,583 |
JPMorgan SmartRetirement® Blend 2025 Fund | 37,926 |
JPMorgan SmartRetirement® Blend 2030 Fund | 46,835 |
JPMorgan SmartRetirement® Blend 2035 Fund | 45,771 |
JPMorgan SmartRetirement® Blend 2040 Fund | 44,429 |
JPMorgan SmartRetirement® Blend 2045 Fund | 28,674 |
JPMorgan SmartRetirement® Blend 2050 Fund | 25,829 |
Long-Term Capital Gain Distribution | |
JPMorgan SmartRetirement® Blend 2055 Fund | $12,743 |
JPMorgan SmartRetirement® Blend 2060 Fund | 3,072 |
Qualified Dividend Income | |
JPMorgan SmartRetirement® Blend Income Fund | $3,479 |
JPMorgan SmartRetirement® Blend 2015 Fund | 131 |
JPMorgan SmartRetirement® Blend 2020 Fund | 6,359 |
JPMorgan SmartRetirement® Blend 2025 Fund | 13,794 |
JPMorgan SmartRetirement® Blend 2030 Fund | 20,185 |
JPMorgan SmartRetirement® Blend 2035 Fund | 23,850 |
JPMorgan SmartRetirement® Blend 2040 Fund | 24,428 |
JPMorgan SmartRetirement® Blend 2045 Fund | 21,631 |
JPMorgan SmartRetirement® Blend 2050 Fund | 17,329 |
JPMorgan SmartRetirement® Blend 2055 Fund | 8,816 |
JPMorgan SmartRetirement® Blend 2060 Fund | 3,080 |
June 30, 2022 | JPMorgan SmartRetirement® Blend Funds | 203 |
FACTS | WHAT DOES J.P. MORGAN FUNDS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
◾Social Security number and account balances | |
◾transaction history and account transactions | |
◾checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons J.P. Morgan Funds chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does J.P. Morgan Funds share? | Can you limit this sharing? |
For our everyday business purposes — such as to process your transactions, maintain your account(s),respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For marketing purposes — to offer our products and services to you | Yes | No |
For joint marketing with other financial companies | No | We don't share |
For our affiliates’ everyday business purposes — information about your transactions and experiences | No | We don't share |
For our affiliates’ everyday business purposes — information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 1-800-480-4111 or go to www.jpmorganfunds.com |
Page 2 |
Who we are | |
Who is providing this notice? | J.P. Morgan Funds |
What we do | |
How does J.P. Morgan Funds protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We authorize our employees to access your information only when they need it to do their work and we require companies that work for us to protect your information. |
How does J.P. Morgan Funds protect my personal information? | We collect your personal information, for example, when you: |
◾open an account or provide contact information | |
◾give us your account information or pay us by check | |
◾make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates and other companies. | |
Why can’t I limit all sharing? | Federal law gives you the right to limit only |
◾sharing for affiliates’ everyday business purposes – information about your creditworthiness | |
◾affiliates from using your information to market to you | |
◾sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
◾J.P. Morgan Funds does not share with our affiliates. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
◾J.P. Morgan Funds does not share with nonaffiliates so they can market to you. | |
Joint Marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
◾J.P. Morgan Funds doesn’t jointly market. |
ITEM 2. CODE OF ETHICS.
Disclose whether, as of the end of the period covered by the report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, explain why it has not done so.
The registrant must briefly describe the nature of any amendment, during the period covered by the report, to a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item. The registrant must file a copy of any such amendment as an exhibit pursuant to Item 13(a)(1), unless the registrant has elected to satisfy paragraph (f) of this Item by positing its code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by undertaking to provide its code of ethics to any person without charge, upon request, pursuant to paragraph (f)(3) of this Item.
If the registrant has, during the period covered by the report, granted a waiver, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or third party, that relates to one or more items set forth in paragraph (b) of this Item, the registrant must briefly describe the nature of the waiver, the name of the person to whom the waiver was granted, and the date of the waiver.
The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer and principal financial officer. There were no amendments to the code of ethics or waivers granted with respect to the code of ethics in the period covered by the report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
(a) (1) Disclose that the registrant’s board of directors has determined that the registrant either:
(i) Has at least one audit committee financial expert serving on its audit committee; or
(ii) Does not have an audit committee financial expert serving on its audit committee.
The Registrant’s Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its audit committee. The Securities and Exchange Commission has stated that the designation or identification of a person as an audit committee financial expert pursuant to this Item 3 of Form N-CSR does not impose on such person any duties, obligations or liabilities that are greater than the duties, obligations and liabilities imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.
(2) If the registrant provides the disclosure required by paragraph (a)(1)(i) of this Item, it must disclose the name of the audit committee financial expert and whether that person is “independent.” In order to be considered “independent” for purposes of this Item, a member of an audit committee may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee:
(i) Accept directly or indirectly any consulting, advisory, or other compensatory fee from the issuer; or
(ii) Be an “interested person” of the investment company as defined in Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).
The Audit committee financial expert is Kathleen M. Gallagher. Ms. Gallagher is not an “interested person” of the Registrant and is also “independent” as defined by the U.S. Securities and Exchange Commission for the purposes of the audit committee financial expert determination.
(3) If the registrant provides the disclosure required by paragraph (a)(1)(ii) of this Item, it must explain why it does not have an audit committee financial expert.
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Disclose, under the caption Audit Fees, the aggregate fees billed for each of the last two fiscal years for professional
services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
AUDIT FEES
2022 – $192,545
2021 – $209,835
(b) Disclose, under the caption Audit-Related Fees, the aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
AUDIT-RELATED FEES
2022 – $33,641
2021 – $23,811
Audit-related fees consists of semi-annual financial statement reviews and security count procedures performed as required under Rule 17f-2 of the Investment Company Act of 1940 during the Registrant’s fiscal year.
(c) Disclose, under the caption Tax Fees, the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
TAX FEES
2022 – $68,506
2021 – $57,998
The tax fees consist of fees billed in connection with preparing the federal regulated investment company income tax returns for the Registrant for the tax years ended June 30, 2022 and 2021, respectively.
For the last fiscal year, no tax fees were required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X.
(d) Disclose, under the caption All Other Fees, the aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
ALL OTHER FEES
2022 – Not applicable
2021 – Not applicable
(e) (1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
Pursuant to the Registrant’s Audit Committee Charter and written policies and procedures for the pre-approval of audit and non-audit services (the “Pre-approval Policy”), the Audit Committee pre-approves all audit and non-audit services performed by the Registrant’s independent public registered accounting firm for the Registrant. In addition, the Audit Committee pre-approves the auditor’s engagement for non-audit services with the Registrant’s investment adviser (not including a sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser) and any Service Affiliate in accordance with paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, if the engagement relates directly to the operations and financial reporting of the Registrant. Proposed services may be pre-approved either 1) without consideration of specific case-by-case services or 2) require the specific pre-approval of the Audit Committee. Therefore, initially the Pre-approval Policy listed a number of audit and non-audit services that have been approved by the Audit Committee, or which were not subject to pre-approval under the transition provisions of Sarbanes-Oxley Act of 2002 (the “Pre-approval List”). The Audit Committee annually reviews and pre-approves the services included on the Pre-approval List
that may be provided by the independent public registered accounting firm without obtaining additional specific pre-approval of individual services from the Audit Committee. The Audit Committee adds to, or subtracts from, the list of general pre-approved services from time to time, based on subsequent determinations. All other audit and non-audit services not on the Pre-approval List must be specifically pre-approved by the Audit Committee.
One or more members of the Audit Committee may be appointed as the Committee’s delegate for the purposes of considering whether to approve such services. Any pre-approvals granted by the delegate will be reported, for informational purposes only, to the Audit Committee at its next scheduled meeting. The Audit Committee’s responsibilities to pre-approve services performed by the independent public registered accounting firm are not delegated to management.
(2) Disclose the percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
2022 – 0.0%
2021 – 0.0%
(f) If greater than 50 percent, disclose the percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
Not applicable—Less than 50%.
(g) Disclose the aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant.
The aggregate non-audit fees billed by the independent registered public accounting firm for services rendered to the Registrant, and rendered to Service Affiliates, for the last two calendar year ends were:
2021—$ 30.6 million
2020—$ 30.1 million
(h) Disclose whether the registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any subadviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
The Registrant’s Audit Committee has considered whether the provision of the non-audit services that were rendered to Service Affiliates that were not pre-approved (not requiring pre-approval) is compatible with maintaining the independent public registered accounting firm’s independence. All services provided by the independent public registered accounting firm to the Registrant or to Service Affiliates that were required to be pre-approved were pre-approved as required.
(i) A registrant identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form NCSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction must electronically submit to the Commission on a supplemental basis documentation that establishes that the registrant is not owned or controlled by a governmental entity in the foreign jurisdiction. The registrant must submit this documentation on or before the due date for this form. A registrant that is owned or controlled by a foreign governmental entity is not required to submit such documentation.
Not applicable.
(j) A registrant that is a foreign issuer, as defined in 17 CFR 240.3b-4, identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction, for each year in which the registrant is so identified, must provide the below disclosures. Also, any such identified foreign issuer that uses a variable-interest entity or any similar structure that results in additional foreign entities being consolidated in the financial statements of the registrant is required to provide the below disclosures for itself and its consolidated foreign operating entity or entities. A registrant must disclose:
(1) | That, for the immediately preceding annual financial statement period, a registered public accounting firm that the PCAOB was unable to inspect or investigate completely, because of a position taken by an authority in the foreign jurisdiction, issued an audit report for the registrant; |
(2) | The percentage of shares of the registrant owned by governmental entities in the foreign jurisdiction in which the registrant is incorporated or otherwise organized; |
(3) | Whether governmental entities in the applicable foreign jurisdiction with respect to that registered public accounting firm have a controlling financial interest with respect to the registrant; |
(4) | The name of each official of the Chinese Communist Party who is a member of the board of directors of the registrant or the operating entity with respect to the registrant; and |
(5) | Whether the articles of incorporation of the registrant (or equivalent organizing document) contains any charter of the Chinese Communist Party, including the text of any such charter. |
Not applicable.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
(a) If the registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act (17CFR 240.10A-3), state whether or not the registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)). If the registrant has such a committee, however designated, identify each committee member. If the entire board of directors is acting as the registrant’s audit committee as specified in Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)), so state.
(b) If applicable, provide the disclosure required by Rule 10A-3(d) under the Exchange Act (17CFR 240.10A-3(d)) regarding an exemption from the listing standards for all audit committees.
Not applicable.
ITEM 6. INVESTMENTS.
File Schedule I – Investments in securities of unaffiliated issuers as of the close of the reporting period as set forth in Section 210.12-12 of Regulation S-X, unless the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
Included in Item 1.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Describe any material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 7(d)(2)(ii)(G) of Schedule 14A (17 CFR 240.14a-101), or this Item.
No material changes to report.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant’s principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The Registrant’s principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) Disclose any change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
There were no changes in the Registrant’s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. EXHIBITS.
(a) | File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated. |
(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit.
(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2), exactly as set forth below:
(1) Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.
Not applicable.
(2) Change in the registrant’s independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period.
Not applicable.
(b) | A separate or combined certification for each principal executive officer and principal officer of the registrant as required by Rule 30a-2(b) under the Act of 1940. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
JPMorgan Trust IV
By: | /s/ Brian S. Shlissel | |
Brian S. Shlissel | ||
President and Principal Executive Officer | ||
January 31, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Brian S. Shlissel | |
Brian S. Shlissel | ||
President and Principal Executive Officer | ||
January 31, 2023 |
By: | /s/ Timothy J. Clemens | |
Timothy J. Clemens | ||
Treasurer and Principal Financial Officer | ||
January 31, 2023 |