NPORT-EX 2 HG_GREI.htm HTML

JPMorgan Global Research Enhanced Index Fund

Schedule of Portfolio Investments as of January 31, 2020

(Unaudited)

 

 

  

THE “UNAUDITED MUTUAL FUNDS HOLDINGS” LIST (“the List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR SALES LITERATURE WITH THE GENERAL PUBLIC. The list is submitted for the general information of the shareholders of the Fund. It is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by a prospectus. The list has been created from the books and records of the Fund. Holdings are available 60 days after the fund’s fiscal quarter, using a trade date accounting convention, by contacting the appropriate service center. The list is subject to change without notice. The list is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.

 

JPMorgan Asset Management is the marketing name for the asset management business of J.P. Morgan Chase & Co.

 

JPMorgan Distribution Services, Inc., member FINRA.

 

© J.P. Morgan Chase & Co., 2020.

 

   

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited)

 

Investments

    Shares
(000)		      Value
($000)		  

COMMON STOCKS — 98.8%

 

Argentina — 0.1%

 

MercadoLibre, Inc.*

      3        2,316  
     

 

 

  

Australia — 2.5%

 

AGL Energy Ltd.

      44        580  

Alumina Ltd.

      453        652  

APA Group

      123        924  

Aristocrat Leisure Ltd.

      30        708  

Aurizon Holdings Ltd.

      271        973  

Australia & New Zealand Banking Group Ltd.

      312        5,318  

BHP Group Ltd.

      282        7,234  

BHP Group plc

      307        6,678  

Boral Ltd.

      112        370  

Brambles Ltd.

      129        1,078  

Caltex Australia Ltd.

      31        713  

Coca-Cola Amatil Ltd.

      97        767  

Cochlear Ltd.

      7        1,183  

Coles Group Ltd.

      91        995  

Commonwealth Bank of Australia

      132        7,451  

Computershare Ltd.

      71        843  

Crown Resorts Ltd.

      9        70  

CSL Ltd.

      40        8,170  

Fortescue Metals Group Ltd.

      67        494  

Goodman Group, REIT

      175        1,736  

GPT Group (The), REIT

      548        2,187  

Incitec Pivot Ltd.

      143        310  

Insurance Australia Group Ltd.

      171        806  

Lendlease Group

      49        584  

Macquarie Group Ltd.

      29        2,760  

Mirvac Group, REIT

      1,145        2,583  

National Australia Bank Ltd.

      192        3,282  

Newcrest Mining Ltd.

      60        1,201  

Oil Search Ltd.

      137        653  

Orica Ltd.

      52        789  

Origin Energy Ltd.

      128        690  

QBE Insurance Group Ltd.

      211        1,924  

Ramsay Health Care Ltd.

      15        814  

REA Group Ltd.(a)

      10        750  

Rio Tinto Ltd.

      44        2,867  

Rio Tinto plc

      140        7,488  

Santos Ltd.

      150        862  

SEEK Ltd.

      5        82  

Sonic Healthcare Ltd.

      25        532  

South32 Ltd.

      550        944  

Stockland, REIT

      259        848  

Suncorp Group Ltd.

      191        1,634  

Sydney Airport

      145        809  

Tabcorp Holdings Ltd.

      206        642  

Telstra Corp. Ltd.

      125        319  

TPG Telecom Ltd.

      83        412  

Transurban Group

      208        2,173  

Treasury Wine Estates Ltd.

      52        447  

Wesfarmers Ltd.

      91        2,721  

Westpac Banking Corp.

      329        5,501  

Woodside Petroleum Ltd.

      60        1,370  

Woolworths Group Ltd.

      126        3,489  
     

 

 

  
        99,410  
     

 

 

  

Austria — 0.1%

 

Erste Group Bank AG*

      154        5,669  
     

 

 

  

Belgium — 0.2%

 

Anheuser-Busch InBev SA/NV

      73        5,521  

KBC Group NV

      33        2,454  
     

 

 

  
        7,975  
     

 

 

  

Canada — 3.5%

 

Agnico Eagle Mines Ltd.

      26        1,610  

Alimentation Couche-Tard, Inc., Class B

      96        3,217  

Bank of Montreal

      60        4,566  

Bank of Nova Scotia (The)

      114        6,222  

Barrick Gold Corp.

      200        3,711  

BCE, Inc.

      18        831  

Brookfield Asset Management, Inc., Class A

      98        5,976  

Cameco Corp.

      39        316  

Canadian Imperial Bank of Commerce

      42        3,389  

Canadian National Railway Co.

      76        7,081  

Canadian Natural Resources Ltd.

      132        3,724  

Canadian Pacific Railway Ltd.

      15        3,856  

Cenovus Energy, Inc.

      115        1,005  

CGI, Inc.*

      27        2,065  

CI Financial Corp.

      25        447  

Constellation Software, Inc.

      2        2,286  

Dollarama, Inc.

      33        1,110  

Emera, Inc.(a)

      27        1,186  

Enbridge, Inc.

      202        8,218  

Fairfax Financial Holdings Ltd.

      3        1,356  

Fortis, Inc.

      48        2,078  

Franco-Nevada Corp.

      21        2,379  

Great-West Lifeco, Inc.

      30        787  

IGM Financial, Inc.

      9        268  

Imperial Oil Ltd.

      30        716  

Intact Financial Corp.

      15        1,620  

Inter Pipeline Ltd.

      41        677  

Keyera Corp.(a)

      21        547  

Kirkland Lake Gold Ltd.

      23        923  

Loblaw Cos. Ltd.(a)

      21        1,076  

Magna International, Inc.

      33        1,677  

Manulife Financial Corp.

      216        4,202  

Metro, Inc.

      29        1,175  

National Bank of Canada

      31        1,736  

Nutrien Ltd.

      66        2,818  

Open Text Corp.

      29        1,306  

Pembina Pipeline Corp.(a)

      51        1,939  

Power Corp. of Canada

      33        826  

Restaurant Brands International, Inc.

      27        1,668  

Rogers Communications, Inc., Class B

      40        1,985  

Royal Bank of Canada

      134        10,563  

Shaw Communications, Inc., Class B

      51        1,002  

Shopify, Inc., Class A*

      9        4,022  

Sun Life Financial, Inc.

      65        3,060  

Suncor Energy, Inc.

      174        5,312  

TC Energy Corp.

      92        5,053  

Teck Resources Ltd., Class B

      57        738  

Thomson Reuters Corp.

      22        1,780  

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Investments

    Shares
(000)		      Value
($000)		  

Toronto-Dominion Bank (The)

      170        9,388  

Wheaton Precious Metals Corp.

      51        1,503  
     

 

 

  
        134,996  
     

 

 

  

China — 0.1%

 

BOC Hong Kong Holdings Ltd.

      575        1,901  

Prosus NV*

      23        1,687  

Yangzijiang Shipbuilding Holdings Ltd.

      274        188  
     

 

 

  
        3,776  
     

 

 

  

Denmark — 0.8%

 

Carlsberg A/S, Class B

      33        4,809  

Chr Hansen Holding A/S(a)

      44        3,266  

Novo Nordisk A/S, Class B

      243        14,795  

Novozymes A/S, Class B(a)

      83        4,330  

Orsted A/S(a)(b)

      49        5,301  
     

 

 

  
        32,501  
     

 

 

  

Finland — 0.3%

 

Elisa OYJ

      73        4,394  

UPM-Kymmene OYJ

      168        5,287  

Wartsila OYJ Abp

      111        1,359  
     

 

 

  
        11,040  
     

 

 

  

France — 4.1%

 

Accor SA

      108        4,419  

Air Liquide SA

      46        6,632  

Airbus SE

      80        11,687  

Alstom SA

      122        6,461  

Arkema SA

      42        3,875  

AXA SA

      274        7,282  

BioMerieux

      46        4,536  

BNP Paribas SA

      179        9,526  

Capgemini SE

      41        5,151  

Dassault Systemes SE

      26        4,478  

Eiffage SA

      45        5,256  

Ipsen SA

      20        1,510  

Kering SA

      12        7,070  

L’Oreal SA

      16        4,560  

LVMH Moet Hennessy Louis Vuitton SE

      28        12,037  

Orange SA

      351        4,965  

Pernod Ricard SA

      29        5,005  

Renault SA

      72        2,801  

Safran SA

      52        8,351  

Sanofi

      65        6,304  

Schneider Electric SE

      95        9,514  

Thales SA(a)

      46        5,071  

TOTAL SA

      242        11,783  

Vinci SA

      73        8,141  

Vivendi SA

      141        3,857  
     

 

 

  
        160,272  
     

 

 

  

Germany — 2.6%

 

adidas AG

      21        6,736  

Allianz SE (Registered)

      49        11,667  

BASF SE

      54        3,613  

Bayer AG (Registered)

      78        6,252  

Daimler AG (Registered)

      86        3,984  

Deutsche Post AG (Registered)

      230        8,029  

Deutsche Telekom AG (Registered)

      458        7,423  

Fresenius SE & Co. KGaA

      72        3,700  

Infineon Technologies AG

      293        6,300  

Merck KGaA

      42        5,345  

Muenchener Rueckversicherungs-Gesellschaft AG (Registered)

      21        6,168  

RWE AG

      138        4,792  

SAP SE

      93        12,106  

Siemens AG (Registered)*

      64        7,939  

Volkswagen AG (Preference)

      41        7,309  
     

 

 

  
        101,363  
     

 

 

  

Hong Kong — 0.9%

 

AIA Group Ltd.

      1,009        9,998  

ASM Pacific Technology Ltd.

      35        473  

Bank of East Asia Ltd. (The)

      36        78  

CK Asset Holdings Ltd.

      179        1,142  

CK Infrastructure Holdings Ltd.

      147        1,026  

CLP Holdings Ltd.

      164        1,700  

Hang Lung Properties Ltd.

      52        109  

Hang Seng Bank Ltd.

      71        1,427  

Henderson Land Development Co. Ltd.

      181        814  

HKT Trust & HKT Ltd.

      290        433  

Hong Kong & China Gas Co. Ltd.

      603        1,154  

Hong Kong Exchanges & Clearing Ltd.

      142        4,672  

Hongkong Land Holdings Ltd.

      98        520  

Jardine Matheson Holdings Ltd.

      10        546  

Kerry Properties Ltd.

      139        386  

Link, REIT

      158        1,598  

MTR Corp. Ltd.

      106        592  

New World Development Co. Ltd.

      321        401  

NWS Holdings Ltd.(a)

      215        276  

Power Assets Holdings Ltd.

      174        1,256  

Sino Land Co. Ltd.

      476        649  

Sun Hung Kai Properties Ltd.

      148        2,055  

Swire Pacific Ltd., Class A

      83        729  

Techtronic Industries Co. Ltd.

      106        842  

WH Group Ltd.(b)

      541        509  

Wharf Real Estate Investment Co. Ltd.

      149        770  

Wheelock & Co. Ltd.

      137        834  

Yue Yuen Industrial Holdings Ltd.

      131        363  
     

 

 

  
        35,352  
     

 

 

  

Ireland — 0.5%

 

CRH plc

      180        6,762  

Kerry Group plc, Class A

      37        4,677  

Kingspan Group plc

      81        5,021  

Kingspan Group plc

      8        466  

Ryanair Holdings plc, ADR*

      38        3,333  
     

 

 

  
        20,259  
     

 

 

  

Israel — 0.0%(c)

 

Teva Pharmaceutical Industries Ltd., ADR*

      155        1,610  
     

 

 

  

Italy — 0.7%

 

Davide Campari-Milano SpA(a)

      452        4,367  

Enel SpA

      1,123        9,786  

FinecoBank Banca Fineco SpA(a)

      254        2,970  

Snam SpA

      857        4,591  

UniCredit SpA(a)

      387        5,174  
     

 

 

  
        26,888  
     

 

 

  

Japan — 8.1%

 

Alfresa Holdings Corp.

      7        139  

Amada Holdings Co. Ltd.

      105        1,095  

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Investments

    Shares
(000)		     Value
($000)		  

Asahi Group Holdings Ltd.

      65       2,999  

Asahi Intecc Co. Ltd.

      10       287  

Asahi Kasei Corp.

      221       2,264  

Astellas Pharma, Inc.

      148       2,610  

Bandai Namco Holdings, Inc.

      23       1,325  

Bridgestone Corp.

      27       939  

Canon, Inc.

      52       1,371  

Central Japan Railway Co.

      20       4,004  

Chubu Electric Power Co., Inc.

      96       1,306  

Chugai Pharmaceutical Co. Ltd.

      13       1,291  

Dai Nippon Printing Co. Ltd.

      23       637  

Daicel Corp.

      77       732  

Daifuku Co. Ltd.

      4       241  

Dai-ichi Life Holdings, Inc.

      76       1,132  

Daiichi Sankyo Co. Ltd.

      67       4,534  

Daikin Industries Ltd.

      30       4,171  

Daito Trust Construction Co. Ltd.

      4       412  

Daiwa House Industry Co. Ltd.

      86       2,717  

Daiwa House REIT Investment Corp., REIT

      —   (d)      336  

Denso Corp.

      68       2,798  

Dentsu Group, Inc.

      30       981  

East Japan Railway Co.

      27       2,404  

Eisai Co. Ltd.

      20       1,537  

Electric Power Development Co. Ltd.

      64       1,434  

FANUC Corp.

      11       2,076  

Fast Retailing Co. Ltd.

      5       2,528  

FUJIFILM Holdings Corp.

      57       2,831  

Fujitsu Ltd.

      24       2,548  

Fukuoka Financial Group, Inc.

      71       1,236  

Hankyu Hanshin Holdings, Inc.

      12       467  

Hino Motors Ltd.

      53       495  

Hitachi High-Technologies Corp.

      18       1,308  

Hitachi Ltd.

      127       4,845  

Honda Motor Co. Ltd.

      191       4,875  

Hoya Corp.

      42       4,029  

Idemitsu Kosan Co. Ltd.

      13       324  

Inpex Corp.

      37       344  

ITOCHU Corp.

      186       4,347  

J Front Retailing Co. Ltd.

      109       1,311  

Japan Airlines Co. Ltd.(a)

      51       1,421  

Japan Exchange Group, Inc.

      31       557  

Japan Post Holdings Co. Ltd.

      44       403  

Japan Prime Realty Investment Corp., REIT

      —   (d)      421  

Japan Real Estate Investment Corp., REIT

      —   (d)      745  

Japan Retail Fund Investment Corp., REIT

      —   (d)      757  

Japan Tobacco, Inc.

      108       2,281  

JFE Holdings, Inc.

      22       262  

JTEKT Corp.

      23       247  

JXTG Holdings, Inc.

      571       2,427  

Kajima Corp.

      143       1,817  

Kansai Paint Co. Ltd.

      17       402  

Kao Corp.

      65       5,176  

KDDI Corp.

      127       3,823  

Keikyu Corp.

      27       495  

Keyence Corp.

      20       6,589  

Kikkoman Corp.

      7       329  

Kintetsu Group Holdings Co. Ltd.

      13       669  

Kirin Holdings Co. Ltd.

      108       2,374  

Komatsu Ltd.

      108       2,386  

Konami Holdings Corp.

      41       1,603  

Kubota Corp.

      168       2,631  

Kuraray Co. Ltd.

      98       1,173  

Kurita Water Industries Ltd.

      12       336  

Kyocera Corp.

      30       1,945  

Kyowa Kirin Co. Ltd.

      82       1,921  

M3, Inc.

      52       1,508  

Marui Group Co. Ltd.

      60       1,392  

MEIJI Holdings Co. Ltd.

      6       429  

MINEBEA MITSUMI, Inc.

      55       1,063  

MISUMI Group, Inc.

      14       352  

Mitsubishi Corp.

      179       4,599  

Mitsubishi Electric Corp.

      151       2,096  

Mitsubishi Estate Co. Ltd.

      146       2,850  

Mitsubishi UFJ Financial Group, Inc.

      1,347       6,914  

Mitsui & Co. Ltd.

      133       2,362  

Mitsui Chemicals, Inc.

      87       1,919  

Mitsui Fudosan Co. Ltd.

      141       3,732  

Mizuho Financial Group, Inc.

      1,231       1,825  

MS&AD Insurance Group Holdings, Inc.

      27       907  

Murata Manufacturing Co. Ltd.

      68       3,855  

Nabtesco Corp.

      53       1,516  

Nexon Co. Ltd.*

      35       478  

NGK Spark Plug Co. Ltd.

      56       977  

NH Foods Ltd.

      21       900  

Nidec Corp.

      29       3,597  

Nintendo Co. Ltd.

      13       4,709  

Nippon Building Fund, Inc., REIT

      —   (d)      826  

Nippon Express Co. Ltd.

      17       896  

Nippon Prologis REIT, Inc., REIT

      —   (d)      362  

Nippon Steel Corp.

      112       1,560  

Nippon Telegraph & Telephone Corp.

      177       4,523  

Nippon Yusen KK

      46       726  

Nissan Motor Co. Ltd.

      205       1,111  

Nissin Foods Holdings Co. Ltd.

      13       946  

Nitori Holdings Co. Ltd.

      15       2,300  

Nitto Denko Corp.

      4       195  

Nomura Holdings, Inc.

      131       668  

Nomura Real Estate Master Fund, Inc., REIT

      —   (d)      637  

Nomura Research Institute Ltd.

      84       1,851  

NTT DOCOMO, Inc.

      168       4,773  

Obic Co. Ltd.

      5       640  

Oji Holdings Corp.

      66       335  

Olympus Corp.

      94       1,524  

Ono Pharmaceutical Co. Ltd.

      83       1,907  

Oriental Land Co. Ltd.

      10       1,328  

ORIX Corp.

      183       3,085  

Orix JREIT, Inc., REIT

      —   (d)      315  

Otsuka Corp.

      42       1,642  

Otsuka Holdings Co. Ltd.

      63       2,777  

Pan Pacific International Holdings Corp.

      21       336  

Panasonic Corp.

      117       1,163  

PeptiDream, Inc.*

      5       246  

Rakuten, Inc.

      41       312  

Recruit Holdings Co. Ltd.

      133       5,176  

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Investments

    Shares
(000)		     Value
($000)		  

Renesas Electronics Corp.*

      48       304  

Resona Holdings, Inc.

      400       1,649  

Rohm Co. Ltd.(a)

      18       1,302  

Ryohin Keikaku Co. Ltd.

      41       692  

Santen Pharmaceutical Co. Ltd.

      23       425  

SBI Holdings, Inc.

      48       1,106  

Secom Co. Ltd.

      10       904  

Sega Sammy Holdings, Inc.

      54       728  

Seibu Holdings, Inc.

      101       1,573  

Sekisui House Ltd.

      25       540  

Seven & i Holdings Co. Ltd.

      75       2,872  

Shimadzu Corp.

      33       926  

Shimano, Inc.

      6       905  

Shin-Etsu Chemical Co. Ltd.

      38       4,346  

Shionogi & Co. Ltd.

      11       672  

Shiseido Co. Ltd.

      51       3,290  

SMC Corp.

      6       2,547  

Softbank Corp.

      90       1,232  

SoftBank Group Corp.

      140       5,660  

Sompo Holdings, Inc.

      19       714  

Sony Corp.

      133       9,286  

Square Enix Holdings Co. Ltd.

      20       957  

Stanley Electric Co. Ltd.

      12       301  

Subaru Corp.

      19       483  

Sumitomo Electric Industries Ltd.

      103       1,377  

Sumitomo Metal Mining Co. Ltd.

      15       424  

Sumitomo Mitsui Financial Group, Inc.

      158       5,545  

Sumitomo Mitsui Trust Holdings, Inc.

      32       1,187  

Sumitomo Realty & Development Co. Ltd.

      44       1,631  

Suntory Beverage & Food Ltd.

      12       508  

Suzuken Co. Ltd.

      8       311  

Suzuki Motor Corp.

      56       2,576  

T&D Holdings, Inc.

      149       1,585  

Taiheiyo Cement Corp.

      44       1,192  

Taisei Corp.

      40       1,585  

Takeda Pharmaceutical Co. Ltd.

      125       4,797  

TDK Corp.

      7       783  

Terumo Corp.

      84       3,020  

Tohoku Electric Power Co., Inc.

      35       331  

Tokio Marine Holdings, Inc.

      74       4,011  

Tokyo Electric Power Co. Holdings, Inc.*

      66       263  

Tokyo Electron Ltd.

      19       4,245  

Tokyo Gas Co. Ltd.

      67       1,473  

Tokyu Corp.

      115       2,027  

Toppan Printing Co. Ltd.

      15       297  

Toray Industries, Inc.

      54       354  

Toshiba Corp.

      39       1,237  

Toyota Industries Corp.

      8       443  

Toyota Motor Corp.

      230       15,991  

Toyota Tsusho Corp.

      12       404  

Trend Micro, Inc.

      7       340  

Unicharm Corp.

      16       554  

United Urban Investment Corp., REIT

      —   (d)      389  

Yakult Honsha Co. Ltd.

      7       342  

Yamato Holdings Co. Ltd.

      37       584  

Yaskawa Electric Corp.

      10       353  

Z Holdings Corp.

      320       1,271  
    

 

 

  
       315,434  
    

 

 

  

Macau — 0.1%

 

Galaxy Entertainment Group Ltd.

      227       1,485  

Sands China Ltd.

      265       1,279  

Wynn Macau Ltd.

      165       343  
    

 

 

  
       3,107  
    

 

 

  

Netherlands — 2.0%

 

Akzo Nobel NV

      67       6,366  

ASML Holding NV

      45       12,610  

Heineken NV

      41       4,436  

ING Groep NV

      749       8,129  

Koninklijke Ahold Delhaize NV

      252       6,177  

Koninklijke Philips NV

      99       4,531  

NN Group NV

      102       3,539  

NXP Semiconductors NV

      32       4,048  

Randstad NV

      53       3,025  

Royal Dutch Shell plc, Class A

      491       12,906  

Royal Dutch Shell plc, Class B

      236       6,213  

Wolters Kluwer NV

      61       4,585  
    

 

 

  
       76,565  
    

 

 

  

New Zealand — 0.1%

 

Auckland International Airport Ltd.

      139       774  

Fletcher Building Ltd.

      124       444  

Ryman Healthcare Ltd.

      62       653  

Spark New Zealand Ltd.

      266       798  
    

 

 

  
       2,669  
    

 

 

  

Norway — 0.1%

 

Telenor ASA

      260       4,696  
    

 

 

  

Singapore — 0.4%

 

Ascendas, REIT

      313       721  

CapitaLand Ltd.

      349       919  

CapitaLand Mall Trust, REIT

      234       430  

ComfortDelGro Corp. Ltd.

      203       321  

DBS Group Holdings Ltd.

      214       3,937  

Genting Singapore Ltd.

      455       285  

Jardine Cycle & Carriage Ltd.

      10       213  

Keppel Corp. Ltd.

      172       837  

Oversea-Chinese Banking Corp. Ltd.

      459       3,611  

Singapore Airlines Ltd.

      50       310  

Singapore Press Holdings Ltd.

      120       176  

Singapore Telecommunications Ltd.

      1,072       2,578  

United Overseas Bank Ltd.

      32       589  

Wilmar International Ltd.

      312       890  
    

 

 

  
       15,817  
    

 

 

  

Spain — 0.8%

 

Amadeus IT Group SA

      76       5,938  

Banco Santander SA

      1,327       5,230  

Endesa SA

      97       2,666  

Iberdrola SA

      819       8,956  

Iberdrola SA*

      15       166  

Industria de Diseno Textil SA

      117       3,933  

Telefonica SA

      352       2,380  
    

 

 

  
       29,269  
    

 

 

  

Sweden — 0.6%

 

Boliden AB*

      129       3,062  

Lundin Petroleum AB

      92       2,790  

Sandvik AB

      234       4,263  

SKF AB, Class B

      162       2,964  

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Investments

    Shares
(000)		      Value
($000)		  

Svenska Handelsbanken AB, Class A(a)

      620        6,078  

Volvo AB, Class B

      213        3,633  
     

 

 

  
        22,790  
     

 

 

  

Switzerland — 2.9%

 

ABB Ltd. (Registered)

      159        3,695  

Cie Financiere Richemont SA (Registered)

      66        4,768  

Credit Suisse Group AG (Registered)*

      471        5,959  

LafargeHolcim Ltd. (Registered)*

      117        5,956  

Lonza Group AG (Registered)*

      18        7,423  

Nestle SA (Registered)

      288        31,753  

Novartis AG (Registered)

      225        21,227  

Roche Holding AG

      76        25,437  

UBS Group AG (Registered)*

      322        3,996  

Zurich Insurance Group AG

      7        2,826  
     

 

 

  
        113,040  
     

 

 

  

United Kingdom — 4.7%

 

3i Group plc

      398        5,786  

AstraZeneca plc

      72        7,018  

Barclays plc

      2,533        5,594  

Beazley plc

      531        3,789  

BP plc

      2,374        14,290  

British American Tobacco plc

      190        8,392  

Burberry Group plc

      147        3,764  

CK Hutchison Holdings Ltd.

      270        2,384  

Compass Group plc

      101        2,496  

Diageo plc

      291        11,527  

Fiat Chrysler Automobiles NV

      311        4,047  

GlaxoSmithKline plc

      256        6,008  

HSBC Holdings plc

      1,359        9,882  

InterContinental Hotels Group plc

      74        4,546  

Intertek Group plc

      54        4,060  

Liberty Global plc, Class C*

      40        773  

Linde plc

      38        7,631  

Lloyds Banking Group plc

      5,262        3,928  

London Stock Exchange Group plc

      55        5,705  

M&G plc*

      841        2,654  

Persimmon plc

      109        4,388  

Prudential plc

      454        8,064  

Reckitt Benckiser Group plc

      66        5,460  

RELX plc

      309        8,211  

SSE plc

      354        7,039  

St James’s Place plc

      255        3,835  

Standard Chartered plc

      510        4,238  

Taylor Wimpey plc

      2,191        6,224  

Tesco plc

      1,624        5,282  

Unilever NV

      149        8,724  

Unilever plc

      75        4,503  

Vodafone Group plc

      2,030        3,988  
     

 

 

  
        184,230  
     

 

 

  

United States — 62.6%

 

Abbott Laboratories

      53        4,631  

AbbVie, Inc.

      230        18,671  

Accenture plc, Class A

      102        20,878  

Adobe, Inc.*

      28        9,838  

Advanced Micro Devices, Inc.*

      208        9,763  

AES Corp.

      59        1,180  

Air Products & Chemicals, Inc.

      19        4,607  

Akamai Technologies, Inc.*

      9        832  

Alexion Pharmaceuticals, Inc.*

      53        5,311  

Alleghany Corp.*

      1        469  

Allergan plc

      29        5,433  

Allstate Corp. (The)

      111        13,164  

Alphabet, Inc., Class A*

      28        40,053  

Alphabet, Inc., Class C*

      30        42,994  

Altice USA, Inc., Class A*

      136        3,720  

Altria Group, Inc.

      159        7,540  

Amazon.com, Inc.*

      41        82,820  

American Express Co.

      157        20,434  

American International Group, Inc.

      126        6,356  

Ameriprise Financial, Inc.

      55        9,165  

Amgen, Inc.

      14        2,940  

Analog Devices, Inc.

      133        14,575  

Anthem, Inc.

      49        12,983  

Apple, Inc.

      427        132,221  

Aramark

      22        990  

Arch Capital Group Ltd.*

      42        1,833  

Arrow Electronics, Inc.*

      8        617  

AT&T, Inc.

      304        11,425  

Automatic Data Processing, Inc.

      108        18,460  

AutoZone, Inc.*

      9        9,848  

AvalonBay Communities, Inc., REIT

      17        3,593  

Avery Dennison Corp.

      41        5,365  

Bank of America Corp.

      1,029        33,780  

Bank of New York Mellon Corp. (The)

      19        829  

Bausch Health Cos., Inc.*

      33        919  

Baxter International, Inc.

      110        9,850  

Becton Dickinson and Co.

      37        10,309  

Berkshire Hathaway, Inc., Class B*

      117        26,253  

Best Buy Co., Inc.

      136        11,514  

Biogen, Inc.*

      30        8,198  

BlackRock, Inc.

      28        14,611  

Boeing Co. (The)

      7        2,360  

Booking Holdings, Inc.*

      4        6,689  

BorgWarner, Inc.

      28        946  

Boston Properties, Inc., REIT

      13        1,829  

Boston Scientific Corp.*

      244        10,219  

Bristol-Myers Squibb Co.

      334        21,027  

Broadcom, Inc.

      10        3,150  

Cadence Design Systems, Inc.*

      25        1,811  

Camden Property Trust, REIT

      6        715  

Capital One Financial Corp.

      102        10,135  

Caterpillar, Inc.

      44        5,724  

CBRE Group, Inc., Class A*

      30        1,836  

CDK Global, Inc.

      12        636  

CDW Corp.

      13        1,698  

Celanese Corp.

      74        7,688  

Cerner Corp.

      9        666  

Charles Schwab Corp. (The)

      139        6,314  

Charter Communications, Inc., Class A*

      39        20,323  

Cheniere Energy, Inc.*

      20        1,179  

Chevron Corp.

      198        21,173  

Chubb Ltd.

      15        2,267  

Cigna Corp.

      40        7,668  

Cincinnati Financial Corp.

      14        1,474  

Cisco Systems, Inc.

      209        9,616  

Citigroup, Inc.

      353        26,238  

Citizens Financial Group, Inc.

      163        6,093  

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Investments

    Shares
(000)		      Value
($000)		  

CMS Energy Corp.

      155        10,634  

Coca-Cola Co. (The)

      439        25,651  

Cognizant Technology Solutions Corp., Class A

      12        748  

Comcast Corp., Class A

      602        25,979  

Conagra Brands, Inc.

      45        1,495  

Concho Resources, Inc.

      32        2,439  

ConocoPhillips

      23        1,383  

Constellation Brands, Inc., Class A

      42        7,872  

Cooper Cos., Inc. (The)

      4        1,243  

Corteva, Inc.

      66        1,909  

Costco Wholesale Corp.

      32        9,685  

Crown Holdings, Inc.*

      89        6,602  

CSX Corp.

      67        5,100  

Cummins, Inc.

      56        9,018  

CVS Health Corp.

      28        1,888  

Danaher Corp.

      6        1,031  

Darden Restaurants, Inc.

      9        1,092  

DaVita, Inc.*

      33        2,637  

Deere & Co.

      33        5,288  

Delta Air Lines, Inc.

      126        7,042  

DexCom, Inc.*

      3        715  

Diamondback Energy, Inc.

      73        5,411  

Discovery, Inc., Class A*(a)

      141        4,120  

Discovery, Inc., Class C*

      169        4,688  

Dow, Inc.

      104        4,804  

DuPont de Nemours, Inc.

      86        4,409  

Eastman Chemical Co.

      100        7,160  

Eaton Corp. plc

      173        16,336  

Edison International

      108        8,293  

Edwards Lifesciences Corp.*

      18        3,848  

Electronic Arts, Inc.*

      77        8,284  

Eli Lilly & Co.

      136        19,058  

Emerson Electric Co.

      105        7,499  

Entergy Corp.

      88        11,580  

EOG Resources, Inc.

      173        12,598  

Equinix, Inc., REIT

      12        7,139  

Equity Residential, REIT

      101        8,397  

Essex Property Trust, Inc., REIT

      22        6,752  

Estee Lauder Cos., Inc. (The), Class A

      13        2,491  

Expedia Group, Inc.

      67        7,266  

Exxon Mobil Corp.

      205        12,729  

F5 Networks, Inc.*

      5        586  

Facebook, Inc., Class A*

      197        39,777  

Federal Realty Investment Trust, REIT

      38        4,808  

Fidelity National Financial, Inc.

      10        491  

Fifth Third Bancorp

      154        4,395  

FirstEnergy Corp.

      85        4,326  

Fiserv, Inc.*

      62        7,388  

Flex Ltd.*

      23        297  

Ford Motor Co.

      368        3,242  

Fortinet, Inc.*

      13        1,462  

Freeport-McMoRan, Inc.

      119        1,325  

General Dynamics Corp.

      81        14,182  

General Mills, Inc.

      189        9,869  

General Motors Co.

      154        5,131  

Goldman Sachs Group, Inc. (The)

      20        4,684  

H&R Block, Inc.

      17        400  

Hartford Financial Services Group, Inc. (The)

      202        11,979  

Hasbro, Inc.

      19        1,942  

HD Supply Holdings, Inc.*

      91        3,716  

Hilton Worldwide Holdings, Inc.

      74        7,973  

Hologic, Inc.*

      25        1,337  

Home Depot, Inc. (The)

      95        21,748  

Honeywell International, Inc.

      132        22,909  

Host Hotels & Resorts, Inc., REIT

      70        1,136  

HP, Inc.

      368        7,847  

Humana, Inc.

      12        3,968  

IDEXX Laboratories, Inc.*

      7        1,929  

Illumina, Inc.*

      12        3,549  

Ingersoll-Rand plc

      82        10,936  

Intel Corp.

      219        13,986  

International Business Machines Corp.

      55        7,858  

Intuit, Inc.

      62        17,323  

Intuitive Surgical, Inc.*

      10        5,479  

Invitation Homes, Inc., REIT

      113        3,570  

James Hardie Industries plc, CHDI

      54        1,134  

JM Smucker Co. (The)

      10        994  

Johnson & Johnson

      178        26,563  

Jones Lang LaSalle, Inc.

      3        549  

Kansas City Southern(a)

      54        9,148  

KeyCorp

      460        8,610  

Kimberly-Clark Corp.

      30        4,275  

KLA Corp.

      15        2,459  

Las Vegas Sands Corp.

      29        1,886  

Lear Corp.

      4        494  

Leidos Holdings, Inc.

      79        7,954  

Lennar Corp., Class A

      129        8,561  

Liberty Broadband Corp., Class C*

      10        1,301  

Lowe’s Cos., Inc.(a)

      136        15,841  

Lyft, Inc., Class A*

      37        1,780  

LyondellBasell Industries NV, Class A

      25        1,959  

ManpowerGroup, Inc.

      6        546  

Marathon Petroleum Corp.

      179        9,768  

MarketAxess Holdings, Inc.

      7        2,317  

Masco Corp.

      163        7,749  

Mastercard, Inc., Class A

      117        36,911  

McDonald’s Corp.

      30        6,401  

McKesson Corp.

      51        7,310  

Medtronic plc

      189        21,781  

Merck & Co., Inc.

      311        26,610  

MetLife, Inc.

      200        9,962  

Microchip Technology, Inc.(a)

      21        1,998  

Micron Technology, Inc.*

      26        1,402  

Microsoft Corp.

      710        120,910  

Mid-America Apartment Communities, Inc., REIT

      11        1,467  

Mondelez International, Inc., Class A

      291        16,704  

Morgan Stanley

      337        17,621  

Motorola Solutions, Inc.

      10        1,837  

National Retail Properties, Inc., REIT

      12        680  

Netflix, Inc.*

      50        17,277  

Newmont Corp.

      38        1,689  

NextEra Energy, Inc.

      80        21,446  

Nielsen Holdings plc

      48        976  

NIKE, Inc., Class B

      147        14,111  

Norfolk Southern Corp.

      87        18,191  

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Investments

    Shares
(000)		      Value
($000)		  

Northrop Grumman Corp.

      24        8,937  

Nucor Corp.

      28        1,325  

NVIDIA Corp.

      68        16,022  

ON Semiconductor Corp.*

      213        4,928  

ONEOK, Inc.

      159        11,916  

Oracle Corp.

      16        853  

O’Reilly Automotive, Inc.*

      15        6,072  

Ovintiv, Inc.

      29        453  

Owens Corning

      9        551  

Packaging Corp. of America

      35        3,369  

Palo Alto Networks, Inc.*

      7        1,539  

Parker-Hannifin Corp.

      50        9,731  

Parsley Energy, Inc., Class A

      91        1,514  

PayPal Holdings, Inc.*

      206        23,410  

PepsiCo, Inc.

      34        4,788  

Pfizer, Inc.

      258        9,594  

Philip Morris International, Inc.

      255        21,103  

Phillips 66

      21        1,955  

Pioneer Natural Resources Co.

      82        11,032  

Principal Financial Group, Inc.

      24        1,293  

Procter & Gamble Co. (The)

      216        26,881  

Prologis, Inc., REIT

      117        10,858  

Prudential Financial, Inc.

      26        2,364  

PulteGroup, Inc.

      21        921  

QUALCOMM, Inc.

      13        1,135  

Ralph Lauren Corp.

      19        2,146  

Regeneron Pharmaceuticals, Inc.*

      14        4,737  

Regions Financial Corp.

      267        4,158  

Ross Stores, Inc.

      65        7,282  

Royal Caribbean Cruises Ltd.

      52        6,122  

S&P Global, Inc.

      57        16,867  

Sabre Corp.

      23        485  

salesforce.com, Inc.*

      135        24,679  

SBA Communications Corp., REIT

      10        2,460  

SEI Investments Co.

      19        1,266  

Sempra Energy

      54        8,724  

ServiceNow, Inc.*

      15        5,097  

Snap, Inc., Class A*

      68        1,244  

Snap-on, Inc.

      36        5,717  

Southern Co. (The)

      162        11,411  

Spirit AeroSystems Holdings, Inc., Class A

      5        313  

Stanley Black & Decker, Inc.

      46        7,387  

State Street Corp.

      149        11,291  

Steel Dynamics, Inc.

      9        278  

Sun Communities, Inc., REIT

      5        762  

Synchrony Financial

      46        1,477  

Target Corp.

      56        6,208  

TD Ameritrade Holding Corp.

      100        4,736  

Teradyne, Inc.

      164        10,816  

Tesla, Inc.*

      2        1,171  

Texas Instruments, Inc.

      178        21,501  

Thermo Fisher Scientific, Inc.

      58        18,227  

TJX Cos., Inc. (The)

      167        9,874  

T-Mobile US, Inc.*

      43        3,389  

Truist Financial Corp.

      45        2,305  

Tyson Foods, Inc., Class A

      27        2,208  

Union Pacific Corp.

      58        10,352  

United Airlines Holdings, Inc.*

      20        1,473  

United Parcel Service, Inc., Class B

      62        6,366  

United Technologies Corp.

      116        17,348  

UnitedHealth Group, Inc.

      113        30,823  

US Bancorp

      44        2,342  

Ventas, Inc., REIT

      79        4,578  

VEREIT, Inc., REIT

      104        1,018  

Verisk Analytics, Inc.

      6        1,024  

Verizon Communications, Inc.

      446        26,512  

Vertex Pharmaceuticals, Inc.*

      54        12,336  

VICI Properties, Inc., REIT

      116        3,112  

Visa, Inc., Class A

      149        29,566  

Voya Financial, Inc.

      74        4,414  

Walmart, Inc.

      92        10,493  

Walt Disney Co. (The)

      77        10,646  

Waste Management, Inc.

      37        4,516  

Wells Fargo & Co.

      362        16,999  

Weyerhaeuser Co., REIT

      39        1,130  

Workday, Inc., Class A*

      24        4,400  

Xcel Energy, Inc.

      117        8,067  

Xilinx, Inc.

      32        2,701  

Yum! Brands, Inc.

      104        11,049  

Zimmer Biomet Holdings, Inc.

      92        13,663  
     

 

 

  
        2,443,289  
     

 

 

  

TOTAL COMMON STOCKS
(Cost $2,602,439)

 

      3,854,333  
  

 

 

  

SHORT-TERM INVESTMENTS — 2.0%

 

INVESTMENT COMPANIES — 1.1%

 

JPMorgan Prime Money Market Fund Class Institutional Shares, 1.67%(e)(f)(Cost $42,390)

      42,382        42,398  
     

 

 

  

INVESTMENT OF CASH COLLATERAL FROM SECURITIES LOANED — 0.9%

 

JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.80%(e)(f)

      28,500        28,506  

JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.53%(e)(f)

      7,826        7,826  
     

 

 

  

TOTAL INVESTMENT OF CASH COLLATERAL FROM SECURITIES LOANED
(Cost $36,332)

         36,332  
     

 

 

  

TOTAL SHORT-TERM INVESTMENTS
(Cost $78,722)

         78,730  
     

 

 

  

Total Investments — 100.8%
(Cost $2,681,161)

         3,933,063  

Liabilities in Excess of Other Assets — (0.8)%

                          (31,570 ) 
  

 

 

  

Net Assets — 100.0%

 

      3,901,493  
  

 

 

  

 

Percentages indicated are based on net assets.

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Summary of Investments by Industry, January 31, 2020

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:

 

INDUSTRY

    PERCENTAGE  
Banks      6.6 % 
Pharmaceuticals      5.8  
Software      5.3  
IT Services      4.6  
Oil, Gas & Consumable Fuels      4.5  
Technology Hardware, Storage & Peripherals      3.7  
Semiconductors & Semiconductor Equipment      3.4  
Capital Markets      3.3  
Insurance      3.3  
Interactive Media & Services      3.2  
Electric Utilities      2.8  
Health Care Equipment & Supplies      2.7  
Internet & Direct Marketing Retail      2.6  
Specialty Retail      2.3  
Machinery      2.3  
Chemicals      2.1  
Beverages      2.1  
Equity Real Estate Investment Trusts (REITs)      2.0  
Health Care Providers & Services      1.9  
Food Products      1.8  
Diversified Telecommunication Services      1.8  
Road & Rail      1.8  
Aerospace & Defense      1.7  
Media      1.6  
Biotechnology      1.5  
Hotels, Restaurants & Leisure      1.4  
Automobiles      1.3  
Textiles, Apparel & Luxury Goods      1.3  
Metals & Mining      1.2  
Entertainment      1.2  
Food & Staples Retailing      1.1  
Electrical Equipment      1.1  
Tobacco      1.0  
Others (each less than 1.0%)      14.6  
Short-Term Investments      1.1  

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

Abbreviations
ADR    American Depositary Receipt
CHDI    Clearing House Electronic Subregister System (CHESS) Depository Interest
OYJ    Public Limited Company
Preference    A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
REIT    Real Estate Investment Trust
(a)    The security or a portion of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 is approximately $33,869,000.
(b)    Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.
(c)    Amount rounds to less than 0.1% of net assets.
(d)    Amount rounds to less than one thousand.
(e)    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.
(f)    The rate shown is the current yield as of January 31, 2020.
*    Non-income producing security.

Futures contracts outstanding as of January 31, 2020 (amounts in thousands, except number of contracts):

 

Description

    Number of
Contracts		      Expiration
Date		      Trading
Currency		      Notional
Amount ($)		      Value and
Unrealized
Appreciation
(Depreciation) ($)		  

Long Contracts

 

EURO STOXX 50 Index

      115        03/2020        EUR        4,625        (110 ) 

S&P 500 E-Mini Index

      236        03/2020        USD        38,055        (3 ) 
              

 

 

  
                 (113 ) 
              

 

 

  

 

Abbreviations
EUR    Euro
USD    United States Dollar

A. Valuation of Investments — Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund’s valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

JPMorgan Global Research Enhanced Index Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF JANUARY 31, 2020 (Unaudited) (continued)

 

J.P. Morgan Investment Management Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and at least on a quarterly basis with the AVC and the Board.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values (“NAV”) of the Fund are calculated on a valuation date.

Certain foreign equity instruments, as well as certain derivatives with equity reference obligations, are valued by applying an international fair value factor provided by an approved Pricing Service. The factors seek to adjust the local closing price for movements of local markets post closing, but prior to the time the NAVs are calculated.

Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.

Futures contracts are generally valued on the basis of available market quotations.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund’s investments are summarized into the three broad levels listed below.

 

•  

Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.

 

•  

Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

 

•  

Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s assumptions in determining the fair value of investments).

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

The following table represents each valuation input as presented on the Schedule of Portfolio Investments (amounts in thousands):

 

     Level 1
Quoted prices		     Level 2
Other significant observable
inputs		     Level 3
Significant unobservable inputs		      Total  

Investments in Securities

          

Common Stocks

 

Australia

    $ —       $ 99,410     $  —        $ 99,410  

Austria

      —         5,669       —          5,669  

Belgium

      —         7,975       —          7,975  

China

      —         3,776       —          3,776  

Denmark

      —         32,501       —          32,501  

Finland

      1,359       9,681       —          11,040  

France

      —         160,272       —          160,272  

Germany

      —         101,363       —          101,363  

Hong Kong

      —         35,352       —          35,352  

Ireland

      3,799       16,460       —          20,259  

Italy

      —         26,888       —          26,888  

Japan

      1,026       314,408       —          315,434  

Macau

      —         3,107       —          3,107  

Netherlands

      4,048       72,517       —          76,565  

New Zealand

      —         2,669       —          2,669  

Norway

      —         4,696       —          4,696  

Singapore

      —         15,817       —          15,817  

Spain

      166       29,103       —          29,269  

Sweden

      —         22,790       —          22,790  

Switzerland

      —         113,040       —          113,040  

United Kingdom

      14,628       169,602       —          184,230  

United States

      2,442,155       1,134       —          2,443,289  

Other Common Stocks

      138,922       —         —          138,922  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Common Stocks

      2,606,103       1,248,230       —          3,854,333  
  

 

 

    

 

 

    

 

 

     

 

 

  

Short-Term Investments

 

Investment Companies

      42,398       —         —          42,398  

Investment of cash collateral from securities loaned

      36,332       —         —          36,332  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Short-Term Investments

      78,730       —         —          78,730  
  

 

 

    

 

 

    

 

 

     

 

 

  

Total Investments in Securities

    $ 2,684,833     $ 1,248,230     $ —        $ 3,933,063  
  

 

 

    

 

 

    

 

 

     

 

 

  

Depreciation in Other Financial Instruments

 

Futures Contracts    $ (3 )    $ (110 )    $ —        $ (113 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

There were no transfers into or out of level 3 for the period ended January 31, 2020.

B. Investment Transactions with Affiliates — The Fund invested in Underlying Funds which are advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers. Underlying Funds’ distributions may be reinvested into the Underlying Funds. Reinvestment amounts are included in the purchase cost amounts in the table below. Amounts in the table below are in thousands.

 

For the period ended January 31, 2020

  

Security Description

   Value at
October 31,
2019		     Purchases at
Cost		     Proceeds from
Sales		     Net Realized
Gain (Loss)		     Change in
Unrealized
Appreciation/
(Depreciation)		     Value at January
31, 2020		     Shares at January
31, 2020		     Dividend
Income		     Capital Gain
Distributions		  
JPMorgan Prime Money Market Fund Class Institutional Shares, 1.67%(a)(b)   $ —       $ 189,245     $ 146,856     $ 1     $ 8     $ 42,398       42,382     $ 172     $  —    
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.80%(a)(b)     27,504       82,000       81,000       2       —   (c)      28,506       28,500       104       —    
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.53%(a)(b)     11,680       79,570       83,424       —         —         7,826       7,826       36       —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

Total

   $ 39,184     $ 350,815     $ 311,280     $ 3     $ 8     $ 78,730       $ 312     $ —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

(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 January 31, 2020.

(c)

Amount rounds to less than one thousand.