JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MAY 31, 2020 (Unaudited)

Investments	Principal Amount ($000)		Value ($000)
CORPORATE BONDS — 43.9%
Aerospace & Defense — 0.4%
Boeing Co. (The) 4.88%, 5/1/2025		8,520		9,044
BWX Technologies, Inc. 5.38%, 7/15/2026(a)		185		190
Howmet Aerospace, Inc.
5.13%, 10/1/2024		700		710
5.90%, 2/1/2027		555		560
Leidos, Inc. 3.63%, 5/15/2025(a)		2,990		3,208
Rockwell Collins, Inc. 3.10%, 11/15/2021		100		102
Spirit AeroSystems, Inc. 7.50%, 4/15/2025(a)		150		149
TransDigm, Inc. 6.25%, 3/15/2026(a)		700		716
Triumph Group, Inc.
6.25%, 9/15/2024(a)		500		429
7.75%, 8/15/2025		385		250
				15,358
Air Freight & Logistics — 0.0%(b)
XPO Logistics, Inc.
6.13%, 9/1/2023(a)		318		322
6.75%, 8/15/2024(a)		623		648
				970
Airlines — 0.0%(b)
American Airlines Group, Inc. 5.00%, 6/1/2022(a)		227		132
United Airlines Holdings, Inc.
5.00%, 2/1/2024		200		146
4.88%, 1/15/2025		465		325
				603
Auto Components — 0.3%
Adient Global Holdings Ltd. 4.88%, 8/15/2026(a)		870		730
Adient US LLC 7.00%, 5/15/2026(a)		620		636
Allison Transmission, Inc.
5.00%, 10/1/2024(a)		850		856
5.88%, 6/1/2029(a)		465		470
American Axle & Manufacturing, Inc.
6.63%, 10/15/2022		486		482
6.25%, 4/1/2025		1,355		1,277
Dana Financing Luxembourg SARL 6.50%, 6/1/2026(a)		1,510		1,518
Goodyear Tire & Rubber Co. (The) 5.13%, 11/15/2023		625		608
Icahn Enterprises LP
6.25%, 2/1/2022		250		251
6.75%, 2/1/2024		365		370
6.25%, 5/15/2026		620		624
Panther BF Aggregator 2 LP 6.25%, 5/15/2026(a)		1,025		1,043
Toyota Industries Corp. (Japan) 3.11%, 3/12/2022(a)		1,695		1,743
				10,608
Automobiles — 2.2%
BMW Finance NV (Germany) 2.25%, 8/12/2022(a)		1,890		1,911
BMW US Capital LLC (Germany) 3.80%, 4/6/2023(a)		13,805		14,486
Daimler Finance North America LLC (Germany)
2.00%, 7/6/2021(a)		1,500		1,494
3.40%, 2/22/2022(a)		10,540		10,750
2.55%, 8/15/2022(a)		5,710		5,738
3.35%, 2/22/2023(a)		150		153
1.75%, 3/10/2023(a)		4,960		4,885
Ford Motor Co. 9.00%, 4/22/2025		400		421
Hyundai Capital America
3.00%, 6/20/2022(a)		4,680		4,676
2.85%, 11/1/2022(a)		13,345		13,278
2.38%, 2/10/2023(a)		4,375		4,307
Volkswagen Group of America Finance LLC (Germany)
2.90%, 5/13/2022(a)		3,355		3,414
2.70%, 9/26/2022(a)		7,290		7,415
4.25%, 11/13/2023(a)		1,605		1,718
				74,646
Banks — 15.6%
ABN AMRO Bank NV (Netherlands) 2.65%, 1/19/2021(a)		200		202
AIB Group plc (Ireland)
4.75%, 10/12/2023(a)		2,000		2,118
(ICE LIBOR USD 3 Month + 1.87%), 4.26%, 4/10/2025(a)(c)		1,520		1,583
ANZ New Zealand Int’l Ltd. (New Zealand)
2.75%, 1/22/2021(a)		200		203
2.88%, 1/25/2022(a)		870		895
1.90%, 2/13/2023(a)		6,900		7,025
3.40%, 3/19/2024(a)		560		598
ASB Bank Ltd. (New Zealand) 3.75%, 6/14/2023(a)		1,750		1,877
Australia & New Zealand Banking Group Ltd. (Australia) 2.63%, 11/9/2022		6,725		7,019
Banco Santander SA (Spain)
3.50%, 4/11/2022		7,000		7,232
3.85%, 4/12/2023		6,000		6,323
2.75%, 5/28/2025		3,200		3,266
Bank of America Corp.
(ICE LIBOR USD 3 Month + 0.66%), 2.37%, 7/21/2021(c)		650		651
(ICE LIBOR USD 3 Month + 1.16%), 3.12%, 1/20/2023(c)		4,820		4,981
(ICE LIBOR USD 3 Month + 1.02%), 2.88%, 4/24/2023(c)		6,000		6,195
(ICE LIBOR USD 3 Month + 0.79%), 3.00%, 12/20/2023(c)		9,280		9,696
(ICE LIBOR USD 3 Month + 0.87%), 2.46%, 10/22/2025(c)		3,590		3,736

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
(ICE LIBOR USD 3 Month + 0.64%), 2.01%, 2/13/2026(c)		7,825		7,977
Bank of Montreal (Canada) 2.50%, 6/28/2024		7,330		7,705
Bank of New Zealand (New Zealand)
3.50%, 2/20/2024(a)		5,190		5,533
2.00%, 2/21/2025(a)		5,170		5,298
Bank of Nova Scotia (The) (Canada)
2.00%, 11/15/2022		4,080		4,193
1.95%, 2/1/2023		9,099		9,322
1.63%, 5/1/2023		8,115		8,262
Banque Federative du Credit Mutuel SA (France)
2.70%, 7/20/2022(a)		730		753
2.13%, 11/21/2022(a)		5,000		5,080
3.75%, 7/20/2023(a)		15,790		16,982
Barclays Bank plc (United Kingdom) 2.65%, 1/11/2021		2,000		2,018
Barclays plc (United Kingdom)
3.68%, 1/10/2023		11,858		12,272
(ICE LIBOR USD 3 Month + 1.40%), 4.61%, 2/15/2023(c)		6,115		6,407
BBVA USA
3.50%, 6/11/2021		1,750		1,775
2.88%, 6/29/2022		4,000		4,041
BNP Paribas SA (France)
2.95%, 5/23/2022(a)		4,000		4,108
(ICE LIBOR USD 3 Month + 1.11%), 2.82%, 11/19/2025(a)(c)		7,170		7,364
BNZ International Funding Ltd. (New Zealand)
2.90%, 2/21/2022(a)		750		776
2.65%, 11/3/2022(a)		1,500		1,552
3.38%, 3/1/2023(a)		1,500		1,582
Canadian Imperial Bank of Commerce (Canada)
(ICE LIBOR USD 3 Month + 0.79%), 2.61%, 7/22/2023(c)		15,825		16,288
Capital One Bank USA NA (SOFR + 0.62%), 2.01%, 1/27/2023(c)		7,490		7,504
Capital One NA 2.15%, 9/6/2022		2,040		2,066
CIT Group, Inc.
5.00%, 8/1/2023		225		226
4.75%, 2/16/2024		235		235
Citigroup, Inc.
(SOFR + 0.87%), 2.31%, 11/4/2022(c)		4,665		4,728
(ICE LIBOR USD 3 Month + 0.72%), 3.14%, 1/24/2023(c)		6,130		6,308
(ICE LIBOR USD 3 Month + 0.95%), 2.88%, 7/24/2023(c)		12,210		12,596
Series P, (ICE LIBOR USD 3 Month + 3.91%), 5.95%, 5/15/2025(c)(d)(e)		680		696
(SOFR + 2.75%), 3.11%, 4/8/2026(c)		12,730		13,401
Citizens Bank NA 3.25%, 2/14/2022		565		582
Credit Agricole SA (France)
3.38%, 1/10/2022(a)		15,000		15,466
3.75%, 4/24/2023(a)		5,000		5,294
Credit Suisse Group Funding Guernsey Ltd. (Switzerland) 3.80%, 6/9/2023		1,000		1,062
Discover Bank 3.10%, 6/4/2020		250		250
DNB Bank ASA (Norway) 2.15%, 12/2/2022(a)		8,065		8,311
Fifth Third Bancorp
2.60%, 6/15/2022		100		103
2.38%, 1/28/2025		5,000		5,152
HSBC Bank plc (United Kingdom) 4.13%, 8/12/2020(a)		380		383
HSBC Holdings plc (United Kingdom)
2.95%, 5/25/2021		200		204
(ICE LIBOR USD 3 Month + 0.65%), 1.43%, 9/11/2021(c)		300		300
(ICE LIBOR USD 3 Month + 1.06%), 3.26%, 3/13/2023(c)		4,435		4,582
3.60%, 5/25/2023		4,000		4,254
(ICE LIBOR USD 3 Month + 0.92%), 3.03%, 11/22/2023(c)		5,130		5,325
(ICE LIBOR USD 3 Month + 1.14%), 2.63%, 11/7/2025(c)		2,730		2,807
Huntington Bancshares, Inc. 2.30%, 1/14/2022		633		646
Huntington National Bank (The) 3.13%, 4/1/2022		900		937
ING Groep NV (Netherlands) 3.55%, 4/9/2024		475		509
Lloyds Bank plc (United Kingdom)
3.30%, 5/7/2021		200		205
2.25%, 8/14/2022		1,890		1,942
Lloyds Banking Group plc (United Kingdom)
(ICE LIBOR USD 3 Month + 0.81%), 2.91%, 11/7/2023(c)		2,000		2,056
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%), 3.87%, 7/9/2025(c)		5,605		5,952
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.44%, 2/5/2026(c)		4,130		4,177
Mitsubishi UFJ Financial Group, Inc. (Japan)
(ICE LIBOR USD 3 Month + 0.65%), 1.64%, 7/26/2021(c)		85		85
3.54%, 7/26/2021		145		150
3.22%, 3/7/2022		10,825		11,212
2.62%, 7/18/2022		3,325		3,422
3.46%, 3/2/2023		4,000		4,222
2.19%, 2/25/2025		8,175		8,380

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Mizuho Financial Group, Inc. (Japan)
2.95%, 2/28/2022		4,400		4,550
2.60%, 9/11/2022		5,000		5,151
(ICE LIBOR USD 3 Month + 0.84%), 2.72%, 7/16/2023(c)		6,040		6,168
MUFG Union Bank NA 3.15%, 4/1/2022		700		727
National Bank of Canada (Canada) 2.15%, 10/7/2022(a)		9,080		9,278
NatWest Markets plc (United Kingdom) 2.38%, 5/21/2023(a)		7,220		7,282
Nordea Bank Abp (Finland) 2.50%, 9/17/2020(a)		200		201
Royal Bank of Canada (Canada)
1.60%, 4/17/2023		5,355		5,464
2.25%, 11/1/2024		4,500		4,720
Royal Bank of Scotland Group plc (United Kingdom)
(ICE LIBOR USD 3 Month + 1.48%), 3.50%, 5/15/2023(c)		9,370		9,639
(ICE LIBOR USD 3 Month + 1.55%), 4.52%, 6/25/2024(c)		8,555		9,185
Santander UK Group Holdings plc (United Kingdom)
3.13%, 1/8/2021		10,711		10,834
2.88%, 8/5/2021		2,000		2,034
Santander UK plc (United Kingdom)
2.13%, 11/3/2020		2,400		2,416
2.50%, 1/5/2021		385		389
Skandinaviska Enskilda Banken AB (Sweden)
3.05%, 3/25/2022(a)		1,960		2,031
2.20%, 12/12/2022(a)		10,925		11,242
Societe Generale SA (France)
3.25%, 1/12/2022(a)		9,000		9,213
3.88%, 3/28/2024(a)		1,000		1,053
2.63%, 1/22/2025(a)		5,515		5,537
Standard Chartered plc (United Kingdom)
(ICE LIBOR USD 3 Month + 1.20%), 2.74%, 9/10/2022(a)(c)		5,000		5,028
(ICE LIBOR USD 3 Month + 1.15%), 4.25%, 1/20/2023(a)(c)		11,720		12,117
(ICE LIBOR USD 3 Month + 1.21%), 2.82%, 1/30/2026(a)(c)		3,475		3,498
Sumitomo Mitsui Financial Group, Inc. (Japan)
2.85%, 1/11/2022		830		853
2.78%, 7/12/2022		8,000		8,262
2.78%, 10/18/2022		65		68
3.10%, 1/17/2023		4,075		4,279
2.70%, 7/16/2024		3,075		3,218
Truist Bank
2.80%, 5/17/2022		1,000		1,040
(ICE LIBOR USD 3 Month + 0.59%), 3.50%, 8/2/2022(c)		2,594		2,672
1.25%, 3/9/2023		11,000		11,082
Truist Financial Corp.
2.20%, 3/16/2023		2,210		2,283
2.50%, 8/1/2024		1,225		1,293
US Bancorp 1.45%, 5/12/2025		6,780		6,941
Wells Fargo & Co.
3.75%, 1/24/2024		5,000		5,378
(ICE LIBOR USD 3 Month + 0.83%), 2.41%, 10/30/2025(c)		6,225		6,389
(ICE LIBOR USD 3 Month + 0.75%), 2.16%, 2/11/2026(c)		5,080		5,148
(SOFR + 2.00%), 2.19%, 4/30/2026(c)		7,150		7,245
Westpac Banking Corp. (Australia) 2.75%, 1/11/2023		9,000		9,495
				542,021
Beverages — 0.4%
Constellation Brands, Inc.
2.70%, 5/9/2022		50		51
2.65%, 11/7/2022		65		68
4.25%, 5/1/2023		7,640		8,349
Keurig Dr Pepper, Inc.
3.55%, 5/25/2021		270		278
4.06%, 5/25/2023		5,500		5,993
				14,739
Biotechnology — 0.7%
AbbVie, Inc.
3.45%, 3/15/2022(a)		300		312
2.30%, 11/21/2022(a)		6,185		6,384
2.60%, 11/21/2024(a)		17,445		18,324
				25,020
Building Products — 0.0%(b)
Standard Industries, Inc.
6.00%, 10/15/2025(a)		700		726
4.75%, 1/15/2028(a)		405		408
Summit Materials LLC
6.13%, 7/15/2023		50		50
5.13%, 6/1/2025(a)		260		255
				1,439
Capital Markets — 4.1%
Ameriprise Financial, Inc. 3.00%, 4/2/2025		6,000		6,443
Credit Suisse AG (Switzerland) 2.80%, 4/8/2022		9,510		9,854
Credit Suisse Group AG (Switzerland)
3.57%, 1/9/2023(a)		8,750		9,021
(ICE LIBOR USD 3 Month + 1.24%), 4.21%, 6/12/2024(a)(c)		250		267
Deutsche Bank AG (Germany) 3.15%, 1/22/2021		2,750		2,752
Goldman Sachs Group, Inc. (The) Series P, (ICE LIBOR USD 3 Month + 2.87%), 5.00%, 11/10/2022(c)(d)(e)		755		691
3.63%, 1/22/2023		5,000		5,341
(ICE LIBOR USD 3 Month + 1.05%), 2.91%, 6/5/2023(c)		1,995		2,050

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
(ICE LIBOR USD 3 Month + 0.99%), 2.90%, 7/24/2023(c)		18,190		18,690
3.50%, 4/1/2025		7,750		8,318
LPL Holdings, Inc. 5.75%, 9/15/2025(a)		120		125
Macquarie Bank Ltd. (Australia) 2.10%, 10/17/2022(a)		3,210		3,276
Macquarie Group Ltd. (Australia)
(ICE LIBOR USD 3 Month + 1.02%), 3.19%, 11/28/2023(a)(c)		5,005		5,150
Morgan Stanley
(SOFR + 0.83%), 0.89%, 6/10/2022(c)		1,395		1,378
4.88%, 11/1/2022		14,000		15,188
3.13%, 1/23/2023		7,500		7,918
(ICE LIBOR USD 3 Month + 0.85%), 3.74%, 4/24/2024(c)		1,885		2,012
(SOFR + 1.99%), 2.19%, 4/28/2026(c)		7,750		7,962
MSCI, Inc. 5.38%, 5/15/2027(a)		800		860
UBS AG (Switzerland)
2.45%, 12/1/2020(a)		200		202
1.75%, 4/21/2022(a)		10,555		10,727
UBS Group AG (Switzerland)
2.65%, 2/1/2022(a)		6,798		6,965
3.49%, 5/23/2023(a)		4,054		4,227
(ICE LIBOR USD 3 Month + 0.95%), 2.86%, 8/15/2023(a)(c)		9,415		9,705
				139,122
Chemicals — 0.2%
Air Liquide Finance SA (France) 1.75%, 9/27/2021(a)		200		202
Celanese US Holdings LLC 3.50%, 5/8/2024		290		303
CF Industries, Inc.
3.40%, 12/1/2021(a)		92		93
5.15%, 3/15/2034		465		490
Chemours Co. (The) 7.00%, 5/15/2025		1,260		1,225
CVR Partners LP 9.25%, 6/15/2023(a)		525		494
NOVA Chemicals Corp. (Canada) 5.25%, 6/1/2027(a)		1,030		872
OCI NV (Netherlands) 6.63%, 4/15/2023(a)		450		459
Olin Corp. 5.63%, 8/1/2029		570		515
Scotts Miracle-Gro Co. (The) 4.50%, 10/15/2029		745		764
				5,417
Commercial Services & Supplies — 0.1%
ACCO Brands Corp. 5.25%, 12/15/2024(a)		12		12
ADT Security Corp. (The) 4.13%, 6/15/2023		315		316
Aramark Services, Inc. 5.00%, 2/1/2028(a)		655		645
Brambles USA, Inc. (Australia) 4.13%, 10/23/2025(a)		240		262
Brink’s Co. (The) 4.63%, 10/15/2027(a)		310		290
Clean Harbors, Inc. 4.88%, 7/15/2027(a)		475		492
Nielsen Finance LLC 5.00%, 4/15/2022(a)		1,120		1,118
Prime Security Services Borrower LLC 5.25%, 4/15/2024(a)		730		761
				3,896
Communications Equipment — 0.1%
CommScope, Inc.
5.50%, 3/1/2024(a)		130		134
5.50%, 6/15/2024(a)		730		718
6.00%, 3/1/2026(a)		1,945		2,045
Plantronics, Inc. 5.50%, 5/31/2023(a)		331		253
				3,150
Construction & Engineering — 0.0%(b)
AECOM 5.13%, 3/15/2027		490		520
MasTec, Inc. 4.88%, 3/15/2023		500		500
				1,020
Construction Materials — 0.0%(b)
Cemex SAB de CV (Mexico) 5.70%, 1/11/2025(a)		1,700		1,678
Consumer Finance — 2.6%
AerCap Ireland Capital DAC (Ireland)
4.50%, 5/15/2021		3,800		3,704
3.95%, 2/1/2022		4,726		4,454
3.50%, 5/26/2022		2,350		2,179
4.63%, 7/1/2022		4,350		4,099
3.30%, 1/23/2023		8,730		7,994
4.88%, 1/16/2024		10		9
3.50%, 1/15/2025		155		131
Ally Financial, Inc.
5.13%, 9/30/2024		730		760
5.75%, 11/20/2025		915		951
American Express Co.
2.75%, 5/20/2022		1,460		1,515
3.40%, 2/27/2023		265		282
(ICE LIBOR USD 3 Month + 0.75%), 1.31%, 8/3/2023(c)		35		35
3.70%, 8/3/2023		35		38
American Honda Finance Corp. 2.05%, 1/10/2023		8,755		8,940
Avolon Holdings Funding Ltd. (Ireland)
3.63%, 5/1/2022(a)		5,500		4,894
5.25%, 5/15/2024(a)		8,786		7,415
Capital One Financial Corp.
2.60%, 5/11/2023		5,940		6,099
3.50%, 6/15/2023		2,195		2,314
3.90%, 1/29/2024		2,405		2,554
Caterpillar Financial Services Corp.
2.85%, 5/17/2024		480		520

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
1.45%, 5/15/2025		6,270		6,427
Curo Group Holdings Corp. 8.25%, 9/1/2025(a)		140		111
Ford Motor Credit Co. LLC
3.47%, 4/5/2021		820		800
4.27%, 1/9/2027		920		837
Global Aircraft Leasing Co. Ltd. (Cayman Islands) 6.50% (cash), 9/15/2024(a)(f)		1,085		590
John Deere Capital Corp.
2.60%, 3/7/2024		1,380		1,469
1.75%, 3/9/2027		4,390		4,496
Navient Corp.
6.13%, 3/25/2024		1,000		937
5.00%, 3/15/2027		175		150
Park Aerospace Holdings Ltd. (Ireland)
5.25%, 8/15/2022(a)		10,460		9,231
4.50%, 3/15/2023(a)		2,500		2,118
Springleaf Finance Corp.
7.75%, 10/1/2021		205		210
6.13%, 5/15/2022		740		742
7.13%, 3/15/2026		943		929
				87,934
Containers & Packaging — 0.2%
Ardagh Packaging Finance plc
6.00%, 2/15/2025(a)		735		758
5.25%, 8/15/2027(a)		1,205		1,186
Ball Corp. 5.25%, 7/1/2025		555		622
Berry Global, Inc.
5.13%, 7/15/2023		500		505
4.88%, 7/15/2026(a)		145		152
Crown Americas LLC 4.75%, 2/1/2026		355		369
Graphic Packaging International LLC 4.75%, 7/15/2027(a)		350		367
LABL Escrow Issuer LLC 6.75%, 7/15/2026(a)		1,075		1,120
Mauser Packaging Solutions Holding Co.
5.50%, 4/15/2024(a)		750		744
7.25%, 4/15/2025(a)		815		734
OI European Group BV 4.00%, 3/15/2023(a)		12		12
Owens-Brockway Glass Container, Inc. 5.88%, 8/15/2023(a)		400		415
Reynolds Group Issuer, Inc.
(ICE LIBOR USD 3 Month + 3.50%), 4.72%, 7/15/2021(a)(c)		200		199
Sealed Air Corp. 5.13%, 12/1/2024(a)		345		373
Trivium Packaging Finance BV (Netherlands) 5.50%, 8/15/2026(a)(g)		600		629
				8,185
Distributors — 0.0%(b)
Performance Food Group, Inc. 5.50%, 10/15/2027(a)		350		343
Wolverine Escrow LLC 9.00%, 11/15/2026(a)		976		650
				993
Diversified Consumer Services — 0.0%(b)
Service Corp. International 4.63%, 12/15/2027		1,275		1,342
Diversified Financial Services — 0.4%
AIG Global Funding
2.70%, 12/15/2021(a)		748		767
2.30%, 7/1/2022(a)		985		1,015
CK Hutchison International 17 Ltd. (United Kingdom) 2.88%, 4/5/2022(a)		9,735		9,931
GTP Acquisition Partners I LLC 2.35%, 6/15/2020(a)		600		601
MPH Acquisition Holdings LLC 7.13%, 6/1/2024(a)		525		496
Refinitiv US Holdings, Inc.
6.25%, 5/15/2026(a)		450		480
8.25%, 11/15/2026(a)		325		355
				13,645
Diversified Telecommunication Services — 0.9%
Altice France Holding SA (Luxembourg)
10.50%, 5/15/2027(a)		425		471
6.00%, 2/15/2028(a)		240		233
Altice France SA (France) 7.38%, 5/1/2026(a)		1,725		1,820
AT&T, Inc. 2.30%, 6/1/2027		3,080		3,115
CCO Holdings LLC
4.00%, 3/1/2023(a)		200		202
5.88%, 4/1/2024(a)		850		873
5.13%, 5/1/2027(a)		3,120		3,276
5.00%, 2/1/2028(a)		3,885		4,070
CenturyLink, Inc.
Series T, 5.80%, 3/15/2022		545		568
Series W, 6.75%, 12/1/2023		245		266
Series Y, 7.50%, 4/1/2024		575		633
5.63%, 4/1/2025		975		1,004
5.13%, 12/15/2026(a)		800		808
Cincinnati Bell, Inc. 7.00%, 7/15/2024(a)		270		278
Frontier Communications Corp. 8.00%, 4/1/2027(a)		1,400		1,440
Intelsat Jackson Holdings SA (Luxembourg)
5.50%, 8/1/2023		1,590		838
8.00%, 2/15/2024(a)(g)		767		774
Level 3 Financing, Inc.
5.63%, 2/1/2023		210		210
5.13%, 5/1/2023		100		100
5.38%, 5/1/2025		495		509
Sprint Capital Corp. 8.75%, 3/15/2032		2,215		3,184

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Telecom Italia Capital SA (Italy) 6.38%, 11/15/2033		1,255		1,402
Telecom Italia SpA (Italy) 5.30%, 5/30/2024(a)		550		576
Verizon Communications, Inc. 3.00%, 3/22/2027		4,790		5,217
Virgin Media Secured Finance plc (United Kingdom) 5.50%, 5/15/2029(a)		1,275		1,339
				33,206
Electric Utilities — 1.4%
American Electric Power Co., Inc. Series I, 3.65%, 12/1/2021		145		150
American Transmission Systems, Inc. 5.25%, 1/15/2022(a)		200		213
Ausgrid Finance Pty. Ltd. (Australia) 3.85%, 5/1/2023(a)		6,087		6,387
Edison International
2.40%, 9/15/2022		6,000		6,040
3.13%, 11/15/2022		1,760		1,812
2.95%, 3/15/2023		5,410		5,518
Emera US Finance LP (Canada) 2.70%, 6/15/2021		2,575		2,609
Eskom Holdings SOC Ltd. (South Africa) 5.75%, 1/26/2021(h)		1,800		1,706
Evergy, Inc. 2.45%, 9/15/2024		1,300		1,360
Exelon Corp. 3.50%, 6/1/2022(g)		375		390
FirstEnergy Corp. 2.05%, 3/1/2025		3,390		3,457
Indiana Michigan Power Co. Series J, 3.20%, 3/15/2023		20		21
Instituto Costarricense de Electricidad (Costa Rica) 6.95%, 11/10/2021(h)		1,500		1,416
ITC Holdings Corp. 2.70%, 11/15/2022		5,805		6,028
Jersey Central Power & Light Co. 4.30%, 1/15/2026(a)		230		264
LG&E & KU Energy LLC 3.75%, 11/15/2020		122		123
NextEra Energy Capital Holdings, Inc. 2.90%, 4/1/2022		600		624
NRG Energy, Inc. 7.25%, 5/15/2026		750		807
PNM Resources, Inc. 3.25%, 3/9/2021		69		70
Southern California Edison Co. Series E, 3.70%, 8/1/2025		4,285		4,695
Vistra Operations Co. LLC 5.00%, 7/31/2027(a)		975		1,020
				44,710
Electronic Equipment, Instruments & Components — 0.1%
Anixter, Inc. 6.00%, 12/1/2025		470		484
CDW LLC
5.50%, 12/1/2024		500		543
4.25%, 4/1/2028		830		845
				1,872
Energy Equipment & Services — 0.4%
Archrock Partners LP 6.88%, 4/1/2027(a)		555		530
Baker Hughes a GE Co. LLC 2.77%, 12/15/2022		10,470		10,843
Nabors Industries Ltd. 7.25%, 1/15/2026(a)		745		425
Nabors Industries, Inc. 4.63%, 9/15/2021		58		40
Precision Drilling Corp. (Canada)
6.50%, 12/15/2021		74		66
5.25%, 11/15/2024		632		325
Transocean Guardian Ltd. 5.88%, 1/15/2024(a)		605		554
Transocean Pontus Ltd. 6.13%, 8/1/2025(a)		155		146
Transocean Proteus Ltd. 6.25%, 12/1/2024(a)		195		185
				13,114
Entertainment — 0.1%
Cinemark USA, Inc. 4.88%, 6/1/2023		739		653
Live Nation Entertainment, Inc.
4.88%, 11/1/2024(a)		740		707
4.75%, 10/15/2027(a)		10		9
Netflix, Inc.
4.88%, 4/15/2028		685		731
5.88%, 11/15/2028		1,335		1,520
4.88%, 6/15/2030(a)		165		178
				3,798
Equity Real Estate Investment Trusts (REITs) — 0.9%
American Tower Corp.
3.30%, 2/15/2021		1,500		1,522
3.50%, 1/31/2023		5,305		5,654
3.00%, 6/15/2023		110		116
2.40%, 3/15/2025		2,640		2,762
2.75%, 1/15/2027		3,000		3,200
Brookfield Property REIT, Inc. 5.75%, 5/15/2026(a)		590		448
Crown Castle International Corp. 4.88%, 4/15/2022		100		107
ESH Hospitality, Inc. 5.25%, 5/1/2025(a)		985		958
HAT Holdings I LLC 5.25%, 7/15/2024(a)		175		177
Iron Mountain, Inc.
5.75%, 8/15/2024		349		351
4.88%, 9/15/2027(a)		725		729
MGM Growth Properties Operating Partnership LP 5.75%, 2/1/2027		1,065		1,117
Ryman Hospitality Properties, Inc. 4.75%, 10/15/2027(a)		960		815
SBA Communications Corp.
4.00%, 10/1/2022		200		203
4.88%, 9/1/2024		580		595

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Scentre Group Trust 1 (Australia) 3.50%, 2/12/2025(a)		6,294		6,410
VICI Properties LP
3.50%, 2/15/2025(a)		100		96
4.25%, 12/1/2026(a)		855		847
3.75%, 2/15/2027(a)		430		415
4.13%, 8/15/2030(a)		610		589
WEA Finance LLC (France) 2.88%, 1/15/2027(a)		3,110		2,892
Welltower, Inc. 3.63%, 3/15/2024		2,325		2,378
				32,381
Food & Staples Retailing — 0.3%
Albertsons Cos., Inc.
3.50%, 2/15/2023(a)		135		136
6.63%, 6/15/2024		605		625
4.63%, 1/15/2027(a)		270		274
5.88%, 2/15/2028(a)		350		375
4.88%, 2/15/2030(a)		190		197
Rite Aid Corp. 6.13%, 4/1/2023(a)		1,305		1,214
Safeway, Inc. 3.95%, 8/15/2020		475		473
Sysco Corp. 5.65%, 4/1/2025		6,000		6,833
				10,127
Food Products — 0.1%
Bunge Ltd. Finance Corp. 3.00%, 9/25/2022		100		102
Campbell Soup Co. 3.65%, 3/15/2023		1,018		1,085
JBS USA LUX SA 5.88%, 7/15/2024(a)		625		635
Lamb Weston Holdings, Inc. 4.88%, 11/1/2026(a)		750		776
Pilgrim’s Pride Corp. 5.75%, 3/15/2025(a)		400		409
Post Holdings, Inc.
5.00%, 8/15/2026(a)		525		538
5.75%, 3/1/2027(a)		525		548
4.63%, 4/15/2030(a)		189		186
				4,279
Gas Utilities — 0.1%
AmeriGas Partners LP
5.63%, 5/20/2024		580		606
5.50%, 5/20/2025		455		473
Dominion Energy Gas Holdings LLC Series A, 2.50%, 11/15/2024		3,590		3,762
				4,841
Health Care Equipment & Supplies — 0.1%
Becton Dickinson and Co.
(ICE LIBOR USD 3 Month + 0.88%), 2.25%, 12/29/2020(c)		149		149
Hill-Rom Holdings, Inc. 4.38%, 9/15/2027(a)		735		754
Hologic, Inc. 4.38%, 10/15/2025(a)		610		624
Teleflex, Inc. 4.63%, 11/15/2027		565		589
				2,116
Health Care Providers & Services — 1.2%
Aetna, Inc.
2.75%, 11/15/2022		223		231
2.80%, 6/15/2023		60		63
Anthem, Inc. 2.95%, 12/1/2022		75		79
Centene Corp.
4.75%, 5/15/2022		125		127
5.38%, 6/1/2026(a)		590		624
4.25%, 12/15/2027		900		940
3.38%, 2/15/2030		995		1,002
Community Health Systems, Inc. 8.63%, 1/15/2024(a)		825		829
CVS Health Corp.
3.70%, 3/9/2023		15,700		16,818
4.10%, 3/25/2025		68		76
DaVita, Inc. 5.00%, 5/1/2025		1,735		1,781
Encompass Health Corp.
5.13%, 3/15/2023		250		251
4.50%, 2/1/2028		980		995
HCA, Inc.
5.88%, 5/1/2023		485		527
5.38%, 2/1/2025		200		220
5.88%, 2/15/2026		2,065		2,312
5.38%, 9/1/2026		785		869
5.88%, 2/1/2029		3,640		4,231
Laboratory Corp. of America Holdings 2.30%, 12/1/2024		5,740		5,968
Tenet Healthcare Corp.
8.13%, 4/1/2022		560		585
4.88%, 1/1/2026(a)		2,640		2,713
6.25%, 2/1/2027(a)		2,135		2,210
				43,451
Health Care Technology — 0.0%(b)
IQVIA, Inc. 5.00%, 5/15/2027(a)		800		834
Hotels, Restaurants & Leisure — 0.4%
1011778 BC ULC (Canada)
4.25%, 5/15/2024(a)		625		632
5.00%, 10/15/2025(a)		360		364
Boyd Gaming Corp. 6.00%, 8/15/2026		125		122
Caesars Resort Collection LLC 5.25%, 10/15/2025(a)		755		671
Cedar Fair LP
5.38%, 6/1/2024		260		247
5.25%, 7/15/2029(a)		345		326
Downstream Development Authority of the Quapaw Tribe of Oklahoma 10.50%, 2/15/2023(a)		271		188
Enterprise Development Authority (The) 12.00%, 7/15/2024(a)		355		349
Hilton Domestic Operating Co., Inc. 5.13%, 5/1/2026		1,050		1,053
Hilton Grand Vacations Borrower LLC 6.13%, 12/1/2024		321		307

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Hilton Worldwide Finance LLC 4.88%, 4/1/2027		600		596
International Game Technology plc
6.25%, 2/15/2022(a)		600		612
6.25%, 1/15/2027(a)		440		447
KFC Holding Co. 4.75%, 6/1/2027(a)		715		741
Marriott Ownership Resorts, Inc. 6.50%, 9/15/2026		575		571
MGM Resorts International
5.75%, 6/15/2025		1,759		1,754
4.63%, 9/1/2026		33		32
5.50%, 4/15/2027		327		317
Sabre GLBL, Inc. 5.38%, 4/15/2023(a)		1,100		1,042
Scientific Games International, Inc. 5.00%, 10/15/2025(a)		619		579
Six Flags Entertainment Corp. 4.88%, 7/31/2024(a)		1,175		1,105
Stars Group Holdings BV (Canada) 7.00%, 7/15/2026(a)		570		604
Station Casinos LLC 5.00%, 10/1/2025(a)		470		422
Wyndham Destinations, Inc.
3.90%, 3/1/2023		285		265
5.40%, 4/1/2024(g)		70		66
Wynn Las Vegas LLC 5.50%, 3/1/2025(a)		400		388
Wynn Resorts Finance LLC 5.13%, 10/1/2029(a)		1,095		1,052
				14,852
Household Durables — 0.2%
Lennar Corp.
4.88%, 12/15/2023		150		158
5.25%, 6/1/2026		965		1,038
Meritage Homes Corp. 6.00%, 6/1/2025		455		486
Newell Brands, Inc. 4.70%, 4/1/2026(g)		1,500		1,553
PulteGroup, Inc. 5.50%, 3/1/2026		335		370
Tempur Sealy International, Inc.
5.63%, 10/15/2023		625		625
5.50%, 6/15/2026		1,200		1,202
				5,432
Household Products — 0.2%
Central Garden & Pet Co. 5.13%, 2/1/2028		720		736
Energizer Holdings, Inc.
5.50%, 6/15/2025(a)		500		512
7.75%, 1/15/2027(a)		845		921
Reckitt Benckiser Treasury Services plc (United Kingdom) 2.38%, 6/24/2022(a)		1,900		1,953
Spectrum Brands, Inc.
5.75%, 7/15/2025		750		774
5.00%, 10/1/2029(a)		660		644
				5,540
Independent Power and Renewable Electricity Producers — 0.2%
AES Corp. (The) 6.00%, 5/15/2026		565		597
Calpine Corp. 5.50%, 2/1/2024		190		191
Exelon Generation Co. LLC
3.40%, 3/15/2022		380		393
3.25%, 6/1/2025		5,185		5,369
				6,550
Insurance — 1.1%
American International Group, Inc. 2.50%, 6/30/2025		5,820		6,020
Athene Global Funding 3.00%, 7/1/2022(a)		5,165		5,211
Jackson National Life Global Funding
2.25%, 4/29/2021(a)		115		116
3.30%, 6/11/2021(a)		250		256
3.30%, 2/1/2022(a)		970		998
3.25%, 1/30/2024(a)		9,500		9,867
MassMutual Global Funding II 2.25%, 7/1/2022(a)		1,380		1,421
Protective Life Global Funding
2.16%, 9/25/2020(a)		150		151
(ICE LIBOR USD 3 Month + 0.52%), 1.89%, 6/28/2021(a)(c)		150		150
Reliance Standard Life Global Funding II
2.63%, 7/22/2022(a)		2,415		2,441
2.15%, 1/21/2023(a)		4,505		4,526
3.85%, 9/19/2023(a)		45		48
2.50%, 10/30/2024(a)		6,190		6,215
Suncorp-Metway Ltd. (Australia) 2.38%, 11/9/2020(a)		105		105
				37,525
IT Services — 0.0%(b)
Exela Intermediate LLC 10.00%, 7/15/2023(a)		104		18
Leisure Products — 0.0%(b)
Mattel, Inc. 6.75%, 12/31/2025(a)		1,640		1,710
Life Sciences Tools & Services — 0.0%(b)
Avantor, Inc. 6.00%, 10/1/2024(a)		1,115		1,171
Machinery — 0.0%(b)
ATS Automation Tooling Systems, Inc. (Canada) 6.50%, 6/15/2023(a)		250		254
Colfax Corp.
6.00%, 2/15/2024(a)		353		368
6.38%, 2/15/2026(a)		9		9
Tennant Co. 5.63%, 5/1/2025		500		501
				1,132
Media — 0.7%
Altice Financing SA (Luxembourg) 7.50%, 5/15/2026(a)		955		1,005
AMC Networks, Inc. 5.00%, 4/1/2024		815		817

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Clear Channel Worldwide Holdings, Inc.
9.25%, 2/15/2024		1,159		1,054
5.13%, 8/15/2027(a)		1,740		1,740
CSC Holdings LLC
5.88%, 9/15/2022		450		474
5.25%, 6/1/2024		935		986
10.88%, 10/15/2025(a)		200		217
6.50%, 2/1/2029(a)		1,540		1,700
Diamond Sports Group LLC
5.38%, 8/15/2026(a)		820		652
6.63%, 8/15/2027(a)		485		292
DISH DBS Corp.
6.75%, 6/1/2021		250		255
5.00%, 3/15/2023		250		249
5.88%, 11/15/2024		1,774		1,751
7.75%, 7/1/2026		2,460		2,552
Entercom Media Corp.
7.25%, 11/1/2024(a)		900		724
6.50%, 5/1/2027(a)		177		156
Gray Television, Inc.
5.13%, 10/15/2024(a)		250		253
7.00%, 5/15/2027(a)		385		407
iHeartCommunications, Inc. 6.38%, 5/1/2026		800		836
Interpublic Group of Cos., Inc. (The) 3.50%, 10/1/2020		65		66
Lamar Media Corp.
5.75%, 2/1/2026		350		365
3.75%, 2/15/2028(a)		120		116
4.00%, 2/15/2030(a)		85		82
Meredith Corp. 6.88%, 2/1/2026		1,135		1,051
Nexstar Broadcasting, Inc.
5.63%, 8/1/2024(a)		300		306
5.63%, 7/15/2027(a)		655		671
Sinclair Television Group, Inc.
5.13%, 2/15/2027(a)		610		568
Sirius XM Radio, Inc.
4.63%, 7/15/2024(a)		780		799
5.38%, 7/15/2026(a)		1,705		1,768
TEGNA, Inc.
5.50%, 9/15/2024(a)		500		505
4.63%, 3/15/2028(a)		235		223
ViacomCBS, Inc.
(ICE LIBOR USD 3 Month + 3.90%), 6.25%, 2/28/2057(c)		550		556
Videotron Ltd. (Canada) 5.13%, 4/15/2027(a)		1,185		1,246
				24,442
Metals & Mining — 0.1%
Alcoa Nederland Holding BV
6.75%, 9/30/2024(a)		200		203
7.00%, 9/30/2026(a)		1,000		1,025
Commercial Metals Co. 4.88%, 5/15/2023		155		157
Constellium SE 5.75%, 5/15/2024(a)		250		251
FMG Resources August 2006 Pty. Ltd. (Australia)
4.75%, 5/15/2022(a)		215		218
4.50%, 9/15/2027(a)		450		454
Freeport-McMoRan, Inc.
3.88%, 3/15/2023		380		383
4.55%, 11/14/2024		430		438
4.13%, 3/1/2028		407		396
5.45%, 3/15/2043		520		514
Novelis Corp.
5.88%, 9/30/2026(a)		350		358
4.75%, 1/30/2030(a)		280		266
				4,663
Multi-Utilities — 0.3%
Ameren Corp.
2.70%, 11/15/2020		573		577
2.50%, 9/15/2024		880		935
Dominion Energy, Inc.
4.10%, 4/1/2021(g)		1,250		1,270
2.72%, 8/15/2021(g)		1,150		1,169
Series A, 3.30%, 3/15/2025		6,570		7,100
NiSource, Inc. 2.65%, 11/17/2022		10		10
Public Service Enterprise Group, Inc. 2.65%, 11/15/2022		75		78
Sempra Energy
(ICE LIBOR USD 3 Month + 0.45%), 1.19%, 3/15/2021(c)		195		195
WEC Energy Group, Inc. 3.38%, 6/15/2021		100		103
				11,437
Oil, Gas & Consumable Fuels — 2.8%
Antero Resources Corp. 5.13%, 12/1/2022		1,377		964
APT Pipelines Ltd. (Australia) 3.88%, 10/11/2022(a)		10,128		10,584
Blue Racer Midstream LLC 6.13%, 11/15/2022(a)		1,730		1,688
BP Capital Markets America, Inc. 3.19%, 4/6/2025		4,000		4,340
Buckeye Partners LP
4.13%, 3/1/2025(a)		285		279
4.50%, 3/1/2028(a)		285		276
Cheniere Energy Partners LP 5.25%, 10/1/2025		1,205		1,217
Chevron Corp. 1.55%, 5/11/2025		5,305		5,468
Comstock Resources, Inc. 9.75%, 8/15/2026		276		257
Crestwood Midstream Partners LP 6.25%, 4/1/2023(g)		930		886
DCP Midstream Operating LP 3.88%, 3/15/2023		785		742
Denbury Resources, Inc. 9.00%, 5/15/2021(a)		315		135
Diamondback Energy, Inc. 5.38%, 5/31/2025		6,000		6,140
Enbridge, Inc. (Canada)
2.90%, 7/15/2022		75		77

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
2.50%, 1/15/2025		5,900		6,074
Energen Corp. 4.63%, 9/1/2021		6,823		6,864
EnLink Midstream Partners LP 4.40%, 4/1/2024		1,085		871
EP Energy LLC 7.75%, 5/15/2026(a)(i)		145		19
Equinor ASA (Norway) 2.88%, 4/6/2025		7,210		7,768
Exxon Mobil Corp.
1.57%, 4/15/2023		10,795		11,085
2.99%, 3/19/2025		7,095		7,767
Genesis Energy LP 7.75%, 2/1/2028		247		231
Gulfport Energy Corp.
6.63%, 5/1/2023		660		426
6.00%, 10/15/2024		1,080		632
Martin Midstream Partners LP 7.25%, 2/15/2021		150		88
MEG Energy Corp. (Canada)
6.50%, 1/15/2025(a)		1,007		993
7.13%, 2/1/2027(a)		378		344
NuStar Logistics LP
4.80%, 9/1/2020		100		101
6.75%, 2/1/2021		50		50
6.00%, 6/1/2026		470		451
Oasis Petroleum, Inc.
6.88%, 3/15/2022		879		167
6.88%, 1/15/2023		125		21
6.25%, 5/1/2026(a)		505		83
ONEOK, Inc. 2.75%, 9/1/2024		3,370		3,337
Parsley Energy LLC 5.25%, 8/15/2025(a)		430		416
PBF Holding Co. LLC
9.25%, 5/15/2025(a)		127		138
6.00%, 2/15/2028(a)		590		495
Peabody Energy Corp. 6.00%, 3/31/2022(a)		60		41
Petroleos Mexicanos (Mexico) 4.50%, 1/23/2026		3,800		3,239
QEP Resources, Inc. 5.25%, 5/1/2023		620		330
Range Resources Corp. 5.00%, 3/15/2023		1,000		905
SM Energy Co.
6.13%, 11/15/2022		625		375
6.63%, 1/15/2027		685		351
Southwestern Energy Co. 6.20%, 1/23/2025(g)		1,170		1,051
Summit Midstream Holdings LLC 5.50%, 8/15/2022		105		50
Sunoco LP 4.88%, 1/15/2023		85		86
Tallgrass Energy Partners LP 4.75%, 10/1/2023(a)		610		596
Targa Resources Partners LP
5.25%, 5/1/2023		955		960
5.88%, 4/15/2026		1,285		1,307
6.88%, 1/15/2029		1,180		1,263
TerraForm Power Operating LLC 4.25%, 1/31/2023(a)		314		319
Total Capital International SA (France) 2.43%, 1/10/2025		1,500		1,584
W&T Offshore, Inc. 9.75%, 11/1/2023(a)		134		76
Whiting Petroleum Corp. 6.63%, 1/15/2026(i)		635		73
WPX Energy, Inc.
5.25%, 9/15/2024		750		744
5.75%, 6/1/2026		500		500
				95,324
Paper & Forest Products — 0.0%(b)
Clearwater Paper Corp. 4.50%, 2/1/2023		250		248
Personal Products — 0.0%(b)
Edgewell Personal Care Co. 4.70%, 5/24/2022		475		489
Prestige Brands, Inc. 6.38%, 3/1/2024(a)		595		612
				1,101
Pharmaceuticals — 0.6%
Bausch Health Americas, Inc.
9.25%, 4/1/2026(a)		3,465		3,847
8.50%, 1/31/2027(a)		50		55
Bausch Health Cos., Inc.
5.88%, 5/15/2023(a)		56		56
7.00%, 3/15/2024(a)		130		135
6.13%, 4/15/2025(a)		725		736
5.50%, 11/1/2025(a)		2,260		2,335
7.00%, 1/15/2028(a)		27		28
5.00%, 1/30/2028(a)		224		216
5.25%, 1/30/2030(a)		228		224
Elanco Animal Health, Inc. 5.65%, 8/28/2028(g)		340		376
EMD Finance LLC (Germany) 2.95%, 3/19/2022(a)		150		155
Par Pharmaceutical, Inc. 7.50%, 4/1/2027(a)		1,290		1,314
Shire Acquisitions Investments Ireland DAC 2.88%, 9/23/2023		9,068		9,562
Zoetis, Inc.
(ICE LIBOR USD 3 Month + 0.44%), 0.82%, 8/20/2021(c)		185		185
3.25%, 8/20/2021		240		246
				19,470
Professional Services — 0.0%(b)
Dun & Bradstreet Corp. (The) 6.88%, 8/15/2026(a)		400		434
Real Estate Management & Development — 0.0%(b)
China Evergrande Group (China) 8.75%, 6/28/2025(h)		2,100		1,631
Road & Rail — 0.2%
Avis Budget Car Rental LLC
6.38%, 4/1/2024(a)		369		305
5.25%, 3/15/2025(a)		500		398

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
5.75%, 7/15/2027(a)		580		444
Hertz Corp. (The)
7.63%, 6/1/2022(a)		138		60
5.50%, 10/15/2024(a)		1,820		327
JB Hunt Transport Services, Inc. 3.88%, 3/1/2026		400		450
Ryder System, Inc.
3.50%, 6/1/2021		15		15
3.35%, 9/1/2025		4,405		4,492
				6,491
Semiconductors & Semiconductor Equipment — 0.1%
Analog Devices, Inc. 2.50%, 12/5/2021		75		77
Qorvo, Inc. 5.50%, 7/15/2026		365		382
Sensata Technologies UK Financing Co. plc 6.25%, 2/15/2026(a)		1,620		1,705
				2,164
Software — 0.0%(b)
CDK Global, Inc. 4.88%, 6/1/2027		730		758
SS&C Technologies, Inc. 5.50%, 9/30/2027(a)		705		740
				1,498
Specialty Retail — 0.6%
AutoZone, Inc. 3.63%, 4/15/2025		6,000		6,589
L Brands, Inc.
5.63%, 10/15/2023		825		784
6.88%, 11/1/2035		500		415
Penske Automotive Group, Inc. 5.50%, 5/15/2026		935		921
PetSmart, Inc.
7.13%, 3/15/2023(a)		915		888
5.88%, 6/1/2025(a)		1,220		1,220
Staples, Inc.
7.50%, 4/15/2026(a)		1,670		1,459
10.75%, 4/15/2027(a)		830		565
TJX Cos., Inc. (The) 3.50%, 4/15/2025		7,100		7,931
				20,772
Technology Hardware, Storage & Peripherals — 0.1%
EMC Corp. 3.38%, 6/1/2023		1,989		1,998
NCR Corp.
6.38%, 12/15/2023		450		460
5.75%, 9/1/2027(a)		970		963
Western Digital Corp. 4.75%, 2/15/2026		605		637
Xerox Corp. 4.12%, 3/15/2023(g)		92		91
				4,149
Textiles, Apparel & Luxury Goods — 0.0%(b)
Hanesbrands, Inc. 4.63%, 5/15/2024(a)		250		254
William Carter Co. (The) 5.63%, 3/15/2027(a)		370		378
				632
Thrifts & Mortgage Finance — 1.0%
BPCE SA (France)
3.00%, 5/22/2022(a)		8,426		8,652
2.75%, 1/11/2023(a)		5,420		5,585
(ICE LIBOR USD 3 Month + 1.24%), 2.02%, 9/12/2023(a)(c)		250		246
2.38%, 1/14/2025(a)		3,855		3,897
Ladder Capital Finance Holdings LLLP REIT, 5.25%, 3/15/2022(a)		210		196
Nationstar Mortgage Holdings, Inc. 8.13%, 7/15/2023(a)		125		128
Nationwide Building Society (United Kingdom)
2.45%, 7/27/2021(a)		4,965		5,033
2.00%, 1/27/2023(a)		5,200		5,311
(ICE LIBOR USD 3 Month + 1.18%), 3.62%, 4/26/2023(a)(c)		5,375		5,533
(ICE LIBOR USD 3 Month + 1.06%), 3.77%, 3/8/2024(a)(c)		1,000		1,049
Radian Group, Inc. 4.50%, 10/1/2024		335		331
				35,961
Tobacco — 1.1%
Altria Group, Inc. 2.35%, 5/6/2025		7,085		7,339
BAT Capital Corp. (United Kingdom)
2.76%, 8/15/2022		7,220		7,440
2.79%, 9/6/2024		9,615		10,009
4.70%, 4/2/2027		2,760		3,087
Imperial Brands Finance plc (United Kingdom)
2.95%, 7/21/2020(a)		200		200
3.75%, 7/21/2022(a)		1,500		1,537
3.13%, 7/26/2024(a)		8,410		8,544
Philip Morris International, Inc. 1.50%, 5/1/2025		1,225		1,250
Reynolds American, Inc. (United Kingdom) 4.00%, 6/12/2022		150		158
				39,564
Trading Companies & Distributors — 0.8%
Ahern Rentals, Inc. 7.38%, 5/15/2023(a)		145		63
Air Lease Corp.
3.50%, 1/15/2022		1,500		1,436
3.75%, 2/1/2022		3,919		3,738
2.63%, 7/1/2022		485		460
2.25%, 1/15/2023		5,811		5,420
2.75%, 1/15/2023		9,004		8,291
3.88%, 7/3/2023		3,000		2,827
Beacon Roofing Supply, Inc. 4.88%, 11/1/2025(a)		600		567
Herc Holdings, Inc. 5.50%, 7/15/2027(a)		1,070		1,042
United Rentals North America, Inc. 6.50%, 12/15/2026		1,285		1,373

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
3.88%, 11/15/2027		500		501
4.88%, 1/15/2028		1,575		1,623
WESCO Distribution, Inc. 5.38%, 6/15/2024		250		245
				27,586
Transportation Infrastructure — 0.2%
Sydney Airport Finance Co. Pty. Ltd. (Australia) 3.38%, 4/30/2025(a)		7,105		7,217
Wireless Telecommunication Services — 0.3%
Hughes Satellite Systems Corp.
7.63%, 6/15/2021		50		52
5.25%, 8/1/2026		800		828
Sprint Corp.
7.25%, 9/15/2021		300		315
7.88%, 9/15/2023		1,025		1,163
7.13%, 6/15/2024		100		113
7.63%, 2/15/2025		546		637
7.63%, 3/1/2026		2,819		3,369
T-Mobile USA, Inc.
6.00%, 4/15/2024		150		153
6.50%, 1/15/2026		120		127
4.50%, 2/1/2026		328		337
4.75%, 2/1/2028		3,273		3,477
Vodafone Group plc (United Kingdom)
3.75%, 1/16/2024		75		82
4.13%, 5/30/2025		135		152
				10,805
TOTAL CORPORATE BONDS (Cost $1,526,790)				1,536,034
COLLATERALIZED MORTGAGE OBLIGATIONS — 13.9%
Alternative Loan Trust
Series 2004-25CB, Class A1, 6.00%, 12/25/2034		279		285
Series 2005-80CB, Class 5A1, 6.00%, 2/25/2036		239		237
Angel Oak Mortgage Trust
Series 2019-5, Class A1, 2.59%, 10/25/2049(a)(j)		4,313		4,343
Series 2019-5, Class A3, 2.92%, 10/25/2049(a)(j)		3,451		3,435
Series 2019-5, Class B1, 3.96%, 10/25/2049‡(a)(j)		1,060		1,002
Series 2019-3, Class A1, 2.93%, 5/25/2059(a)(j)		1,333		1,340
Series 2019-3, Class B1, 4.10%, 5/25/2059‡(a)(j)		1,000		895
Angel Oak Mortgage Trust I LLC Series 2018-2, Class A1, 3.67%, 7/27/2048(a)(j)		231		234
Arroyo Mortgage Trust
Series 2019-1, Class A1, 3.80%, 1/25/2049(a)(j)		281		286
Series 2019-2, Class A3, 3.80%, 4/25/2049(a)(j)		773		753
CHL Mortgage Pass-Through Trust
Series 2005-J2, Class 3A8, 5.50%, 8/25/2035		835		678
Series 2006-HYB2, Class 2A1B, 3.56%, 4/20/2036(j)		184		161
CIM Trust
Series 2019-INV2, Class A11, 1.44%, 5/25/2049‡(a)(j)		617		605
Series 2019-INV3, Class A11, 1.44%, 8/25/2049(a)(j)		4,044		3,988
Citigroup Mortgage Loan Trust
Series 2019-IMC1, Class A1, 2.72%, 7/25/2049(a)(j)		906		901
Series 2019-IMC1, Class A3, 3.03%, 7/25/2049(a)(j)		856		852
Series 2019-IMC1, Class B1, 3.97%, 7/25/2049‡(a)(j)		410		362
COLT Mortgage Loan Trust
Series 2018-4, Class A1, 4.01%, 12/28/2048(a)(j)		423		428
Series 2019-3, Class A1, 2.76%, 8/25/2049(a)(j)		564		563
Series 2019-4, Class A1, 2.58%, 11/25/2049(a)(j)		1,660		1,658
Series 2019-4, Class A2, 2.84%, 11/25/2049(a)(j)		1,456		1,453
Series 2019-4, Class A3, 2.99%, 11/25/2049(a)(j)		2,184		2,171
Connecticut Avenue Securities Trust
Series 2019-R02, Class 1M2, 2.47%, 8/25/2031‡(a)(j)		458		447
Series 2019-R05, Class 1M2, 2.17%, 7/25/2039‡(a)(j)		1,723		1,691
Series 2019-R06, Class 2M2, 2.27%, 9/25/2039(a)(j)		5,000		4,875
Series 2019-R07, Class 1M2, 2.27%, 10/25/2039‡(a)(j)		3,250		3,063
Series 2020-R01, Class 1M2, 2.22%, 1/25/2040‡(a)(j)		735		660
CSFB Mortgage-Backed Pass-Through Certificates Series 2005-9, Class 1A2, 5.25%, 10/25/2035		1,513		1,483
Deephaven Residential Mortgage Trust
Series 2017-3A, Class B2, 6.25%, 10/25/2047‡(a)(j)		1,000		897
Series 2019-4A, Class A3, 3.05%, 10/25/2059(a)(j)		2,398		2,395
Series 2019-4A, Class B1, 3.99%, 10/25/2059‡(a)(j)		2,620		2,294
Deutsche Alt-A Securities Mortgage Loan Trust Series 2007-3, Class 2A1, 0.92%, 10/25/2047(j)		973		840
FHLMC Structured Agency Credit Risk Debt Notes
Series 2017-DNA3, Class M1, 0.92%, 3/25/2030(j)		61		61
Series 2017-DNA3, Class M2, 2.67%, 3/25/2030(j)		250		250
Series 2018-HQA1, Class M2, 2.47%, 9/25/2030(j)		349		325

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
FHLMC, REMIC
Series 3806, Class L, 3.50%, 2/15/2026		4,942		5,259
Series 4533, Class KA, 3.00%, 11/15/2026		521		551
Series 3703, Class DY, 4.00%, 8/15/2030		243		265
Series 3036, Class NE, 5.00%, 9/15/2035		205		236
Series 3294, Class NE, 5.50%, 3/15/2037		366		429
Series 4284, Class EJ, 3.00%, 10/15/2038		207		209
Series 4460, Class E, 3.00%, 11/15/2039		877		895
Series 3820, Class GJ, 3.50%, 12/15/2039		122		127
Series 4462, Class A, 3.00%, 1/15/2040		2,457		2,512
Series 3904, Class EC, 2.00%, 8/15/2040		53		53
Series 3966, Class AG, 3.00%, 10/15/2040		1,517		1,569
Series 4091, Class TA, 3.00%, 5/15/2041		133		138
Series 4673, Class NA, 3.50%, 5/15/2041		351		355
Series 4467, Class AB, 3.00%, 7/15/2041		818		839
Series 4048, Class CA, 2.00%, 9/15/2041		381		390
Series 4454, Class B, 3.00%, 10/15/2041		55		55
Series 4467, Class DA, 3.00%, 11/15/2041		205		208
Series 4012, Class GS, IF, IO, 6.32%, 3/15/2042(j)		9,241		2,136
Series 4778, Class EA, 4.00%, 10/15/2042		2,638		2,693
Series 4784, Class PA, 3.50%, 3/15/2043		1,982		2,012
Series 4809, Class HA, 4.50%, 3/15/2043		3,849		3,895
Series 4661, Class HA, 3.00%, 5/15/2043		2,251		2,319
Series 4239, Class LD, 3.00%, 8/15/2043		136		145
Series 4834, Class AB, 3.50%, 9/15/2043		8,248		8,387
Series 4680, Class LG, 3.00%, 10/15/2043		18,977		19,599
Series 4680, Class LA, 3.50%, 10/15/2043		7,978		8,224
Series 4480, Class QA, 3.00%, 11/15/2043		170		178
Series 4711, Class HA, 3.00%, 12/15/2043		105		108
Series 4466, Class NL, 3.50%, 12/15/2043		3,561		3,792
Series 4338, Class SA, IF, IO, 5.82%, 5/15/2044(j)		11,155		2,123
Series 4623, Class EB, 2.50%, 12/15/2044		331		342
Series 4477, Class SA, IF, IO, 5.97%, 5/15/2045(j)		9,132		1,838
Series 4505, Class SA, IF, IO, 5.97%, 8/15/2045(j)		6,817		1,771
Series 4843, Class PH, 4.00%, 7/15/2046		3,672		3,746
Series 4767, Class LA, 3.50%, 8/15/2046		6,589		6,933
Series 4681, Class SD, IF, IO, 5.97%, 5/15/2047(j)		748		144
Series 4924, Class YP, 3.00%, 2/25/2049		5,683		6,062
Series 4906, Class QS, IF, IO, 5.87%, 9/25/2049(j)		9,362		2,036
Series 4925, Class SA, IF, IO, 5.87%, 10/25/2049(j)		9,917		1,990
Series 4937, Class MS, IF, IO, 5.87%, 12/25/2049(j)		26,882		5,210
Series 4954, Class SB, IF, IO, 5.87%, 2/25/2050(j)		15,895		3,353
Series 4954, Class SY, IF, IO, 5.87%, 2/25/2050(j)		16,180		3,436
Series 4632, Class MA, 4.00%, 8/15/2054		12,776		13,824
Series 4634, Class MD, 5.00%, 11/15/2054		27,776		30,004
Series 4630, Class MA, 4.00%, 1/15/2055		24,505		26,113
Series 4839, Class WS, IF, IO, 5.92%, 8/15/2056(j)		21,226		4,881
FHLMC, STRIPS
Series 306, Class 250, 2.50%, 5/15/2028		159		165
Series 267, Class S5, IF, IO, 5.82%, 8/15/2042(j)		9,416		1,774
Series 342, Class S7, IF, IO, 5.93%, 2/15/2045(j)		3,501		762
FNMA, Connecticut Avenue Securities
Series 2017-C07, Class 2M2, 2.67%, 5/25/2030(j)		4,066		3,902
Series 2018-C01, Class 1M2, 2.42%, 7/25/2030(j)		3,000		2,917
Series 2018-C02, Class 2M2, 2.37%, 8/25/2030(j)		3,336		3,168
Series 2018-C05, Class 1M2, 2.52%, 1/25/2031(j)		8,731		8,469
FNMA, REMIC
Series 2013-40, Class VA, 3.50%, 5/25/2026		968		1,020
Series 2017-41, Class MV, 4.00%, 8/25/2028		2,316		2,570
Series 2018-88, Class VB, 4.00%, 2/25/2030		15,261		16,148

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Series 2014-3, Class AM, 2.50%, 1/25/2032		1,865		1,920
Series 2013-67, Class VB, 4.00%, 6/25/2032		400		431
Series 2014-12, Class ED, 2.50%, 12/25/2032		1,400		1,447
Series 2013-55, Class AI, IO, 3.00%, 6/25/2033		2,210		213
Series 2015-80, Class CA, 3.00%, 4/25/2040		616		628
Series 2014-84, Class KA, 3.00%, 11/25/2040		704		726
Series 2013-81, Class AE, 3.50%, 2/25/2041		804		843
Series 2016-11, Class LA, 3.50%, 5/25/2042		2,212		2,286
Series 2015-55, Class QA, 3.50%, 10/25/2042		219		224
Series 2018-18, Class P, 3.50%, 4/25/2043		1,418		1,460
Series 2015-2, Class PA, 2.25%, 3/25/2044		186		191
Series 2015-27, Class HA, 3.00%, 3/25/2044		8,019		8,444
Series 2014-75, Class JA, 3.00%, 10/25/2044		460		491
Series 2016-63, Class JA, 2.50%, 12/25/2044		403		420
Series 2017-14, Class DA, 3.00%, 2/25/2045		1,084		1,129
Series 2015-54, Class FA, 0.52%, 7/25/2045(j)		120		119
Series 2018-84, Class CA, 4.00%, 11/25/2045		3,032		3,129
Series 2015-85, Class SA, IF, IO, 5.45%, 11/25/2045(j)		7,660		1,566
Series 2018-12, Class P, 3.00%, 3/25/2046		14,940		15,497
Series 2016-40, Class FA, 0.82%, 7/25/2046(j)		36		36
Series 2016-74, Class GS, IF, IO, 5.83%, 10/25/2046(j)		3,227		729
Series 2017-13, Class AS, IF, IO, 5.88%, 2/25/2047(j)		791		178
Series 2017-47, Class ST, IF, IO, 5.93%, 6/25/2047(j)		755		187
Series 2017-69, Class SH, IF, IO, 6.03%, 9/25/2047(j)		790		171
Series 2019-17, Class GB, 4.00%, 10/25/2047		1,603		1,678
Series 2018-27, Class SE, IF, IO, 6.03%, 5/25/2048(j)		1,590		361
Series 2019-31, Class S, IF, IO, 5.88%, 7/25/2049(j)		8,770		1,955
Series 2019-42, Class SK, IF, IO, 5.88%, 8/25/2049(j)		8,416		1,628
Series 2016-98, Class A, 4.00%, 6/25/2050		26,114		27,479
Series 2016-98, Class DA, 4.00%, 12/25/2051		36,715		39,916
Series 2017-46, Class LB, 3.50%, 12/25/2052		631		649
Series 2017-49, Class JD, 3.50%, 7/25/2053		2,294		2,368
Series 2017-49, Class JA, 4.00%, 7/25/2053		2,151		2,258
Series 2017-96, Class KA, 3.00%, 1/25/2055		696		734
FWDSecuritization Trust
Series 2019-INV1, Class A2, 3.01%, 6/25/2049(a)(j)		570		562
Series 2019-INV1, Class A3, 3.11%, 6/25/2049(a)(j)		815		790
Series 2019-INV1, Class M1, 3.48%, 6/25/2049‡(a)(j)		500		456
GCAT LLC
Series 2019-NQM1, Class M1, 3.85%, 2/25/2059‡(a)(j)		500		463
GCAT Trust
Series 2019-NQM2, Class A1, 2.86%, 9/25/2059(a)(g)		2,549		2,606
Series 2019-NQM2, Class A3, 3.16%, 9/25/2059(a)(g)		2,549		2,605
Series 2019-NQM2, Class B1, 4.01%, 9/25/2059‡(a)(j)		2,000		1,750
GNMA
Series 2013-180, Class VM, 3.00%, 8/16/2036		1,000		1,030
Series 2010-101, Class LE, 3.00%, 8/20/2039		117		119
Series 2010-166, Class SD, IF, IO, 5.85%, 12/20/2040(j)		1,226		291
Series 2012-39, Class MI, IO, 4.00%, 3/16/2042		517		88
Series 2015-123, Class SE, IF, IO, 5.55%, 9/20/2045(j)		10,840		1,776
Series 2016-108, Class SM, IF, IO, 5.93%, 8/20/2046(j)		1,438		337
Series 2016-146, Class NS, IF, IO, 5.93%, 10/20/2046(j)		1,839		426
Series 2017-80, Class AS, IF, IO, 6.03%, 5/20/2047(j)		1,800		387
Series 2017-93, Class SE, IF, IO, 6.03%, 6/20/2047(j)		1,887		399
Series 2017-163, Class PA, 3.00%, 7/20/2047		14,445		15,308
Series 2017-117, Class SB, IF, IO, 6.03%, 8/20/2047(j)		1,174		268
Series 2017-134, Class SD, IF, IO, 6.03%, 9/20/2047(j)		1,764		380
Series 2017-155, Class KS, IF, IO, 6.03%, 10/20/2047(j)		1,901		425
Series 2017-163, Class HS, IF, IO, 6.03%, 11/20/2047(j)		8,110		1,477
Series 2017-180, Class SD, IF, IO, 6.03%, 12/20/2047(j)		1,921		444

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Series 2018-36, Class SG, IF, IO, 6.03%, 3/20/2048(j)		1,613		354
Series 2018-46, Class AS, IF, IO, 6.03%, 3/20/2048(j)		8,773		2,112
Series 2018-139, Class SB, IF, IO, 5.98%, 10/20/2048(j)		14,033		3,055
Series 2019-71, Class SK, IF, IO, 5.98%, 6/20/2049(j)		8,979		1,909
Series 2019-115, Class SW, IF, IO, 5.93%, 9/20/2049(j)		25,268		4,356
Series 2019-117, Class SA, IF, IO, 5.93%, 9/20/2049(j)		13,442		2,939
Homeward Opportunities Fund I Trust
Series 2019-1, Class A1, 3.45%, 1/25/2059(a)(j)		610		616
Series 2019-2, Class A1, 2.70%, 9/25/2059(a)(j)		1,406		1,400
LHOME Mortgage Trust Series 2019-RTL3, Class A1, 3.87%, 7/25/2024(a)		4,255		3,971
New Residential Mortgage Loan Trust
Series 2018-NQM1, Class A1, 3.99%, 11/25/2048(a)(j)		601		616
Series 2019-NQM1, Class A1, 3.67%, 1/25/2049(a)(j)		363		362
Series 2019-NQM5, Class A1, 2.71%, 11/25/2059(a)(j)		9,268		9,342
Series 2019-NQM5, Class A3, 3.07%, 11/25/2059(a)(j)		4,128		4,048
Series 2019-NQM5, Class B1, 4.04%, 11/25/2059‡(a)(j)		3,041		2,813
OBX Trust
Series 2020-INV1, Class A11, 1.39%, 12/25/2049(a)(j)		4,463		4,183
Series 2019-EXP3, Class 2A1A, 1.07%, 10/25/2059(a)(j)		3,475		3,452
Series 2019-EXP3, Class 2A1B, 1.07%, 10/25/2059(a)(j)		2,160		2,079
PRPM Series 2019-GS1, Class A1, 3.50%, 10/25/2024(a)(j)		5,409		5,205
RALI Trust Series 2003-QS12, Class A4, 3.35%, 6/25/2018		—(k)		–(k)
Spruce Hill Mortgage Loan Trust
Series 2019-SH1, Class A1, 3.40%, 4/29/2049(a)(j)		515		517
Series 2019-SH1, Class A3, 3.65%, 4/29/2049(a)(j)		244		244
Starwood Mortgage Residential Trust
Series 2019-1, Class A1, 2.94%, 6/25/2049(a)(j)		1,311		1,322
Series 2019-1, Class A3, 3.30%, 6/25/2049(a)(j)		708		706
Series 2019-1, Class M1, 3.76%, 6/25/2049‡(a)(j)		1,000		913
Structured Asset Mortgage Investments II Trust Series 2006-AR6, Class 2A1, 0.36%, 7/25/2046(j)		1,468		1,101
Verus Securitization Trust
Series 2019-1, Class A1, 3.84%, 2/25/2059(a)(j)		313		316
Series 2019-2, Class A1, 3.21%, 5/25/2059(a)(j)		461		464
Series 2019-4, Class A1, 2.64%, 11/25/2059(a)(g)		4,400		4,432
Series 2019-4, Class M1, 3.21%, 11/25/2059‡(a)(j)		1,600		1,464
Series 2019-4, Class B1, 3.86%, 11/25/2059‡(a)(j)		600		493
WaMu Mortgage Pass-Through Certificates Trust Series 2005-AR5, Class A6, 3.62%, 5/25/2035(j)		144		141
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $482,123)				486,993
U.S. TREASURY OBLIGATIONS — 11.8%
U.S. Treasury Notes
2.25%, 3/31/2021		85		86
2.13%, 5/15/2022		1,595		1,656
1.75%, 7/15/2022		2,620		2,707
1.63%, 11/15/2022		36,180		37,460
1.63%, 12/15/2022		600		622
1.50%, 1/15/2023		86,705		89,697
1.75%, 1/31/2023		435		453
1.38%, 2/15/2023		4,375		4,516
0.50%, 3/15/2023		189,720		191,388
0.25%, 4/15/2023		42,680		42,760
0.13%, 5/15/2023		35,853		35,779
0.38%, 4/30/2025		3,180		3,191
2.38%, 5/15/2029		985		1,137
TOTAL U.S. TREASURY OBLIGATIONS (Cost $405,955)				411,452
ASSET-BACKED SECURITIES — 10.9%
ACC Trust Series 2019-2, Class A, 2.82%, 2/21/2023(a)		7,146		7,183
American Credit Acceptance Receivables Trust
Series 2016-4, Class D, 4.11%, 4/12/2023(a)		457		458
Series 2017-2, Class D, 3.69%, 6/12/2023(a)		537		539
Series 2019-4, Class B, 2.43%, 10/12/2023(a)		5,700		5,757

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Series 2018-1, Class D, 3.93%, 4/10/2024(a)		600		596
Series 2018-2, Class E, 5.16%, 9/10/2024(a)		750		757
Series 2018-3, Class C, 3.75%, 10/15/2024(a)		455		457
Series 2018-3, Class E, 5.17%, 10/15/2024(a)		750		745
Series 2019-3, Class D, 2.89%, 9/12/2025(a)		913		874
Series 2019-3, Class E, 3.80%, 9/12/2025(a)		577		545
Series 2019-4, Class C, 2.69%, 12/12/2025(a)		4,010		3,991
Series 2019-4, Class D, 2.97%, 12/12/2025(a)		2,980		2,854
Series 2019-4, Class E, 3.85%, 12/12/2025(a)		3,340		3,034
Series 2020-1, Class C, 2.19%, 3/13/2026(a)		14,630		14,400
Series 2020-1, Class E, 3.32%, 3/13/2026(a)		5,000		4,202
AmeriCredit Automobile Receivables Trust
Series 2017-2, Class D, 3.42%, 4/18/2023		5,160		5,284
Series 2017-3, Class D, 3.18%, 7/18/2023		500		506
Series 2019-1, Class C, 3.36%, 2/18/2025		750		766
Series 2019-2, Class C, 2.74%, 4/18/2025		1,000		998
Series 2019-2, Class D, 2.99%, 6/18/2025		3,500		3,456
Avis Budget Rental Car Funding AESOP LLC Series 2020-1A, Class A, 2.33%, 8/20/2026(a)		4,730		4,417
BCC Funding Corp. XVI LLC Series 2019-1A, Class A2, 2.46%, 8/20/2024(a)		15,000		15,080
Business Jet Securities LLC Series 2018-1, Class A, 4.34%, 2/15/2033(a)		86		75
CARS-DB4 LP
Series 2020-1A, Class A4, 3.19%, 2/15/2050(a)		1,500		1,455
Series 2020-1A, Class B1, 4.17%, 2/15/2050‡(a)		1,500		1,396
Carvana Auto Receivables Trust
Series 2019-4A, Class B, 2.53%, 7/15/2024(a)		7,550		7,481
Series 2019-4A, Class D, 3.07%, 7/15/2025(a)		1,821		1,707
Cascade Asset Trust Series 2019-MH1, Class A, 4.00%, 11/25/2044(a)(j)		4,827		4,682
Conn’s Receivables Funding LLC
Series 2018-A, Class C, 6.02%, 1/15/2023‡(a)		99		97
Series 2019-A, Class C, 5.29%, 10/16/2023‡(a)		853		774
Series 2019-B, Class B, 3.62%, 6/17/2024‡(a)		2,500		2,220
Consumer Loan Underlying Bond Credit Trust
Series 2017-P2, Class B, 3.56%, 1/15/2024‡(a)		68		68
Series 2018-NP1, Class C, 4.74%, 5/15/2024‡(a)		329		328
CPS Auto Receivables Trust
Series 2016-B, Class D, 6.58%, 3/15/2022(a)		4,000		4,055
Series 2017-D, Class C, 3.01%, 10/17/2022(a)		409		410
Series 2019-B, Class C, 3.35%, 1/15/2024(a)		4,575		4,592
Series 2020-A, Class B, 2.36%, 2/15/2024(a)		2,185		2,177
Series 2020-A, Class C, 2.54%, 12/15/2025(a)		1,690		1,650
Series 2020-A, Class D, 2.90%, 12/15/2025(a)		1,500		1,423
CPS Auto Trust
Series 2016-D, Class D, 4.53%, 1/17/2023(a)		130		131
Series 2018-C, Class D, 4.40%, 6/17/2024(a)		500		493
Credit Acceptance Auto Loan Trust
Series 2018-3A, Class B, 3.89%, 10/15/2027(a)		350		353
Series 2018-3A, Class C, 4.04%, 12/15/2027(a)		350		352
Series 2019-3A, Class A, 2.38%, 11/15/2028(a)		3,210		3,187
Series 2019-3A, Class B, 2.86%, 1/16/2029(a)		4,500		4,441
Drive Auto Receivables Trust
Series 2019-4, Class A2B, 0.53%, 6/15/2022(j)		901		901
Series 2019-3, Class B, 2.65%, 2/15/2024		1,187		1,191
Series 2018-3, Class D, 4.30%, 9/16/2024		500		511
Series 2019-3, Class C, 2.90%, 8/15/2025		1,000		1,001
Series 2019-4, Class C, 2.51%, 11/17/2025		2,000		1,992
Series 2018-4, Class D, 4.09%, 1/15/2026		500		510
Series 2019-2, Class D, 3.69%, 8/17/2026		500		501
Series 2019-3, Class D, 3.18%, 10/15/2026		3,000		2,912
Series 2019-4, Class D, 2.70%, 2/16/2027		5,000		4,855

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
DT Auto Owner Trust
Series 2017-3A, Class D, 3.58%, 5/15/2023(a)		281		284
Series 2017-4A, Class D, 3.47%, 7/17/2023(a)		197		199
Series 2017-2A, Class E, 6.03%, 1/15/2024(a)		1,500		1,530
Series 2019-4A, Class B, 2.36%, 1/16/2024(a)		3,560		3,591
Series 2017-1A, Class E, 5.79%, 2/15/2024(a)		5,000		5,067
Series 2018-3A, Class D, 4.19%, 7/15/2024(a)		800		791
Series 2019-4A, Class C, 2.73%, 7/15/2025(a)		2,068		2,059
Series 2019-4A, Class D, 2.85%, 7/15/2025(a)		5,000		4,862
Series 2020-1A, Class C, 2.29%, 11/17/2025(a)		5,156		5,062
Series 2020-1A, Class D, 2.55%, 11/17/2025(a)		3,735		3,507
Series 2020-1A, Class E, 3.48%, 2/16/2027(a)		5,000		4,235
Exeter Automobile Receivables Trust
Series 2018-3A, Class C, 3.71%, 6/15/2023(a)		540		546
Series 2016-3A, Class D, 6.40%, 7/17/2023(a)		3,000		2,993
Series 2017-1A, Class D, 6.20%, 11/15/2023(a)		1,860		1,843
Series 2019-3A, Class C, 2.79%, 5/15/2024(a)		1,500		1,510
Series 2018-3A, Class E, 5.43%, 8/15/2024(a)		3,385		3,325
Series 2019-4A, Class C, 2.44%, 9/16/2024(a)		5,000		4,960
Series 2020-1A, Class C, 2.49%, 1/15/2025(a)		2,700		2,672
Series 2019-3A, Class D, 3.11%, 8/15/2025(a)		620		599
Series 2019-4A, Class D, 2.58%, 9/15/2025(a)		5,000		4,809
Series 2020-1A, Class D, 2.73%, 12/15/2025(a)		1,440		1,370
Series 2019-3A, Class E, 4.00%, 8/17/2026(a)		810		755
Series 2019-4A, Class E, 3.56%, 10/15/2026(a)		3,000		2,849
Fair Square Issuance Trust Series 2020-AA, Class A, 2.90%, 9/20/2024(a)		2,750		2,654
First Investors Auto Owner Trust Series 2019-2A, Class B, 2.47%, 1/15/2025(a)		3,095		3,095
Flagship Credit Auto Trust
Series 2018-3, Class A, 3.07%, 2/15/2023(a)		224		225
Series 2017-4, Class D, 3.58%, 1/15/2024(a)		300		294
Series 2019-4, Class B, 2.53%, 11/17/2025(a)		3,360		3,377
Series 2019-4, Class C, 2.77%, 12/15/2025(a)		2,480		2,429
Series 2020-1, Class C, 2.24%, 1/15/2026(a)		3,460		3,331
FORA Financial Asset Securitization LLC Series 2019-1, Class A, 4.02%, 10/15/2024(a)		2,370		1,857
FREED ABS Trust
Series 2018-1, Class A, 3.61%, 7/18/2024(a)		21		21
Series 2018-1, Class B, 4.56%, 7/18/2024‡(a)		200		194
Series 2018-2, Class B, 4.61%, 10/20/2025‡(a)		500		478
Series 2019-1, Class B, 3.87%, 6/18/2026‡(a)		1,000		974
Series 2019-2, Class A, 2.62%, 11/18/2026(a)		3,058		3,014
Series 2019-2, Class B, 3.19%, 11/18/2026‡(a)		6,410		6,043
Series 2020-FP1, Class A, 2.52%, 3/18/2027(a)		7,882		7,772
GLS Auto Receivables Issuer Trust
Series 2019-4A, Class A, 2.47%, 11/15/2023(a)		2,979		3,003
Series 2019-4A, Class B, 2.78%, 9/16/2024(a)		1,500		1,487
Series 2019-3A, Class C, 2.96%, 5/15/2025(a)		5,000		4,792
Series 2019-4A, Class C, 3.06%, 8/15/2025(a)		1,200		1,120
GLS Auto Receivables Trust
Series 2018-1A, Class B, 3.52%, 8/15/2023(a)		500		502
Series 2018-2A, Class C, 4.17%, 4/15/2024(a)		300		301
Lendmark Funding Trust Series 2019-2A, Class A, 2.78%, 4/20/2028(a)		11,255		10,235
LL ABS Trust Series 2019-1A, Class A, 2.87%, 3/15/2027(a)		3,869		3,813
Marlette Funding Trust
Series 2017-3A, Class C, 4.01%, 12/15/2024‡(a)		134		134
Series 2019-4A, Class A, 2.39%, 12/17/2029(a)		7,141		7,101
Series 2020-1A, Class A, 2.24%, 3/15/2030(a)		3,105		3,093
ME Funding LLC Series 2019-1, Class A2, 6.45%, 7/30/2049(a)		746		570
MFA LLC
Series 2017-NPL1, Class A1, 3.35%, 11/25/2047‡(a)(g)		297		293
Series 2018-NPL1, Class A1, 3.88%, 5/25/2048‡(a)(g)		407		371

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Morgan Stanley ABS Capital I, Inc. Trust Series 2004-SD1, Class A, 0.97%, 8/25/2034‡(j)		638		596
OnDeck Asset Securitization Trust II LLC Series 2019-1A, Class A, 2.65%, 11/18/2024(a)		8,991		8,993
Prestige Auto Receivables Trust
Series 2017-1A, Class E, 4.89%, 5/15/2024(a)		1,000		1,004
Series 2018-1A, Class C, 3.75%, 10/15/2024(a)		500		507
Series 2018-1A, Class D, 4.14%, 10/15/2024(a)		7,240		7,217
Prosper Marketplace Issuance Trust Series 2019-4A, Class A, 2.48%, 2/17/2026(a)		3,328		3,313
Regional Management Issuance Trust Series 2019-1, Class A, 3.05%, 11/15/2028(a)		8,182		7,681
Santander Drive Auto Receivables Trust
Series 2017-3, Class E, 4.97%, 1/15/2025		5,000		5,077
Series 2018-4, Class D, 3.98%, 12/15/2025		500		510
Santander Revolving Auto Loan Trust Series 2019-A, Class A, 2.51%, 1/26/2032(a)		14,400		14,262
Small Business Lending Trust Series 2020-A, Class A, 2.62%, 12/15/2026(a)		3,800		3,729
SoFi Consumer Loan Program LLC
Series 2017-6, Class B, 3.52%, 11/25/2026‡(a)		192		187
Series 2017-6, Class C, 4.02%, 11/25/2026‡(a)		300		277
SoFi Consumer Loan Program Trust Series 2020-A, Class A2FX, 2.54%, 5/15/2046(a)		2,625		2,694
Springleaf Funding Trust Series 2016-AA, Class B, 3.80%, 11/15/2029(a)		500		501
Toyota Auto Loan Extended Note Trust Series 2019-1A, Class A, 2.56%, 11/25/2031(a)		2,167		2,244
United Airlines Pass-Through Trust Series 2019-1, Class AA, 4.15%, 8/25/2031		311		291
Upstart Securitization Trust
Series 2019-2, Class A, 2.90%, 9/20/2029(a)		3,022		2,961
Series 2020-1, Class A, 2.32%, 4/22/2030(a)		8,707		8,631
Vantage Data Centers Issuer LLC Series 2019-1A, Class A2, 3.19%, 7/15/2044(a)		695		694
Vericrest Opportunity Loan Trust
Series 2019-NPL7, Class A1A, 3.18%, 10/25/2049‡(a)(g)		3,469		3,270
Series 2020-NPL2, Class A1A, 2.98%, 2/25/2050‡(a)(g)		12,228		11,546
Veros Automobile Receivables Trust Series 2020-1, Class A, 1.67%, 9/15/2023(a)		5,892		5,862
VOLT LXXXIII LLC Series 2019-NPL9, Class A1A, 3.33%, 11/26/2049‡(a)(g)		6,183		5,835
VOLT LXXXV LLC Series 2020-NPL1, Class A1A, 3.23%, 1/25/2050‡(a)(g)		3,548		3,347
Westlake Automobile Receivables Trust
Series 2018-3A, Class D, 4.00%, 10/16/2023(a)		500		504
Series 2019-2A, Class C, 2.84%, 7/15/2024(a)		2,000		2,006
Series 2019-3A, Class C, 2.49%, 10/15/2024(a)		4,500		4,501
Series 2019-3A, Class D, 2.72%, 11/15/2024(a)		4,000		3,897
Series 2019-2A, Class D, 3.20%, 11/15/2024(a)		1,000		991
Series 2019-3A, Class E, 3.59%, 3/17/2025(a)		1,700		1,448
Series 2019-3A, Class F, 4.72%, 4/15/2026(a)		2,000		1,522
TOTAL ASSET-BACKED SECURITIES (Cost $394,414)				382,909
MORTGAGE-BACKED SECURITIES — 8.9%
FHLMC Gold Pools, 15 Year
Pool # J24740, 3.00%, 7/1/2028		87		93
Pool # G15655, 3.00%, 10/1/2028		220		234
Pool # G18528, 3.50%, 10/1/2029		5,791		6,141
Pool # G15890, 3.00%, 7/1/2031		6,008		6,422
FHLMC Gold Pools, 20 Year Pool # C91649, 3.00%, 4/1/2033		66		70
FHLMC Gold Pools, 30 Year Pool # G61879, 4.50%, 3/1/2047		492		539
FHLMC UMBS, 15 Year
Pool # ZS8594, 3.00%, 1/1/2031		3,046		3,219
Pool # ZS8598, 3.00%, 2/1/2031		3,185		3,365
Pool # SB0268, 3.00%, 5/1/2033		936		988
Pool # SB0041, 3.50%, 7/1/2034		5,929		6,342

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
FHLMC UMBS, 30 Year
Pool # ZS9524, 3.50%, 1/1/2044		20,122		22,032
Pool # SD0057, 3.50%, 5/1/2048		9,093		9,948
FNMA UMBS, 15 Year
Pool # BM4202, 3.50%, 12/1/2029		9,335		9,889
Pool # AL8153, 3.00%, 3/1/2031		6,045		6,459
Pool # AL9552, 3.50%, 8/1/2031		583		626
Pool # AS9697, 3.50%, 5/1/2032		231		246
Pool # CA0778, 3.00%, 11/1/2032		375		402
Pool # BM5464, 3.00%, 2/1/2033		5,324		5,610
Pool # MA3970, 2.00%, 3/1/2035		8,504		8,779
Pool # MA4074, 2.00%, 6/1/2035(l)		12,550		12,956
FNMA UMBS, 20 Year
Pool # MA1446, 3.50%, 5/1/2033		322		340
Pool # MA1527, 3.00%, 8/1/2033		205		219
Pool # MA1921, 3.50%, 6/1/2034		12,582		13,496
Pool # CA1791, 3.50%, 2/1/2038		23,981		25,570
FNMA UMBS, 30 Year
Pool # AB1463, 4.00%, 9/1/2040		12,773		14,138
Pool # AL7453, 4.00%, 2/1/2045		8,740		9,812
Pool # AS7039, 4.50%, 4/1/2046		2,205		2,413
Pool # FM1719, 4.50%, 11/1/2046		23,968		26,616
Pool # CA3519, 4.50%, 5/1/2049		42,718		47,761
FNMA, Other
Pool # BF0125, 4.00%, 7/1/2056		16,798		18,605
Pool # BF0144, 3.50%, 10/1/2056		8,532		9,318
Pool # BF0184, 4.00%, 2/1/2057		5,278		5,846
Pool # BF0263, 3.50%, 5/1/2058		8,387		9,172
Pool # BF0381, 4.00%, 4/1/2059		4,774		5,285
FNMA/FHLMC UMBS, Single Family, 15 Year TBA, 2.00%, 6/25/2035(l)		8,660		8,935
GNMA II, 30 Year Pool # MA6220, 4.00%, 10/20/2049		7,819		8,326
TOTAL MORTGAGE-BACKED SECURITIES (Cost $301,811)				310,212
COMMERCIAL MORTGAGE-BACKED SECURITIES — 7.5%
Ashford Hospitality Trust Series 2018-KEYS, Class B, 1.63%, 6/15/2035‡(a)(j)		600		500
Barclays Commercial Mortgage Trust Series 2019-C5, Class XA, IO, 0.89%, 11/15/2052(j)		112,751		6,419
BHMS Series 2018-ATLS, Class A, 1.43%, 7/15/2035(a)(j)		500		465
BX Commercial Mortgage Trust
Series 2018-IND, Class E, 1.88%, 11/15/2035(a)(j)		1,435		1,388
Series 2020-BXLP, Class C, 1.30%, 12/15/2036‡(a)(j)		5,235		4,960
Series 2020-BXLP, Class D, 1.43%, 12/15/2036‡(a)(j)		3,720		3,496
Series 2020-BXLP, Class F, 2.18%, 12/15/2036‡(a)(j)		7,510		6,930
BX Trust Series 2019-CALM, Class E, 2.18%, 11/25/2032‡(a)(j)		3,750		3,172
BXMT Ltd.
Series 2017-FL1, Class B, 1.68%, 6/15/2035‡(a)(j)		500		459
Series 2017-FL1, Class D, 2.88%, 6/15/2035‡(a)(j)		300		248
CAMB Commercial Mortgage Trust Series 2019-LIFE, Class E, 2.33%, 12/15/2037‡(a)(j)		200		188
CGDBB Commercial Mortgage Trust Series 2017-BIOC, Class C, 1.23%, 7/15/2032‡(a)(j)		365		352
Citigroup Commercial Mortgage Trust
Series 2019-SMRT, Class D, 4.74%, 1/10/2036‡(a)(j)		400		397
Series 2019-PRM, Class C, 3.90%, 5/10/2036‡(a)		1,750		1,782
Series 2019-PRM, Class D, 4.35%, 5/10/2036‡(a)		2,144		2,153
Series 2019-PRM, Class E, 4.89%, 5/10/2036‡(a)		1,000		970
Series 2015-P1, Class D, 3.23%, 9/15/2048‡(a)		2,000		1,302
Commercial Mortgage Trust
Series 2015-3BP, Class B, 3.24%, 2/10/2035(a)(j)		7,185		7,429
Series 2020-CBM, Class D, 3.63%, 2/10/2037‡(a)(j)		10,000		8,667

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Series 2020-CBM, Class E, 3.63%, 2/10/2037‡(a)(j)		10,000		7,909
Series 2014-UBS2, Class D, 5.00%, 3/10/2047‡(a)(j)		1,500		1,255
Series 2014-CR19, Class D, 4.73%, 8/10/2047‡(a)(j)		3,291		1,873
Series 2014-CR20, Class D, 3.22%, 11/10/2047‡(a)		4,000		2,487
Series 2014-CR21, Class D, 3.93%, 12/10/2047‡(a)(j)		4,000		2,360
Series 2015-CR23, Class D, 4.29%, 5/10/2048‡(j)		2,000		1,583
Series 2015-LC21, Class D, 4.34%, 7/10/2048‡(j)		1,000		540
Series 2019-GC44, Class XA, IO, 0.66%, 8/15/2057(j)		66,889		2,915
Credit Suisse Mortgage Capital Certificates
Series 2019-ICE4, Class B, 1.41%, 5/15/2036‡(a)(j)		1,200		1,161
Series 2019-ICE4, Class D, 1.78%, 5/15/2036‡(a)(j)		1,000		949
DBUBS Mortgage Trust Series 2011-LC1A, Class C, 5.69%, 11/10/2046(a)(j)		245		243
FHLMC, Multi-Family Structured Pass-Through Certificates
Series K018, Class X1, IO, 1.30%, 1/25/2022(j)		5,314		80
Series K721, Class X3, IO, 1.30%, 9/25/2022(j)		6,071		169
Series K027, Class X1, IO, 0.75%, 1/25/2023(j)		10,616		169
Series K034, Class X1, IO, 0.10%, 7/25/2023(j)		164,476		510
Series K033, Class X1, IO, 0.30%, 7/25/2023(j)		51,535		432
Series KC03, Class X1, IO, 0.49%, 11/25/2024(j)		58,494		1,127
Series KC06, Class X1, IO, 0.90%, 6/25/2026(j)		38,000		1,474
Series K734, Class X3, IO, 2.17%, 7/25/2026(j)		40,000		4,228
Series KC05, Class X1, IO, 1.20%, 6/25/2027(j)		28,976		1,755
Series K078, Class X1, IO, 0.09%, 6/25/2028(j)		49,860		456
Series K082, Class X3, IO, 2.21%, 10/25/2028(j)		8,700		1,235
Series K096, Class X3, IO, 2.11%, 7/25/2029(j)		48,000		6,639
Series K090, Class X3, IO, 2.31%, 10/25/2029(j)		32,598		4,919
Series K723, Class X3, IO, 1.92%, 10/25/2034(j)		7,410		414
Series K025, Class X3, IO, 1.75%, 11/25/2040(j)		3,360		126
Series K054, Class X3, IO, 1.60%, 4/25/2043(j)		3,700		245
Series K068, Class X3, IO, 2.06%, 10/25/2044(j)		3,368		403
Series K059, Class X3, IO, 1.92%, 11/25/2044(j)		5,700		572
Series K061, Class X3, IO, 1.97%, 12/25/2044(j)		2,775		291
Series K070, Class X3, IO, 2.04%, 12/25/2044(j)		16,537		2,011
Series K072, Class X3, IO, 2.14%, 12/25/2045(j)		1,200		155
Series K087, Class X3, IO, 2.32%, 1/25/2046(j)		14,050		2,118
Series K097, Class X3, IO, 2.02%, 9/25/2046(j)		20,477		2,910
Series K088, Class X3, IO, 2.35%, 2/25/2047(j)		10,500		1,645
Series K093, Class X3, IO, 2.21%, 5/25/2047(j)		50,000		7,498
Series K092, Class X3, IO, 2.25%, 5/25/2047(j)		39,434		6,036
Series K095, Class X3, IO, 2.10%, 8/25/2047(j)		25,000		3,610
Series K736, Class X3, IO, 2.01%, 9/25/2047(j)		50,000		5,129
Series K099, Class X3, IO, 2.02%, 10/25/2047(j)		13,745		1,854
FNMA ACES Series 2019-M21, Class X2, IO, 1.35%, 2/25/2031(j)		34,887		3,804
FREMF Series 2018-KF46, Class B, 2.28%, 3/25/2028(a)(j)		325		256
FREMF Mortgage Trust
Series 2017-K727, Class C, 3.74%, 7/25/2024(a)(j)		2,000		1,979
Series 2017-KF36, Class B, 2.98%, 8/25/2024(a)(j)		4,199		3,565
Series 2017-KF34, Class B, 3.03%, 8/25/2024(a)(j)		5,733		4,861
Series 2017-KF38, Class B, 2.83%, 9/25/2024(a)(j)		137		117
Series 2017-KF39, Class B, 2.83%, 11/25/2024(a)(j)		156		134
Series 2018-KF42, Class B, 2.53%, 12/25/2024(a)(j)		2,783		2,411
Series 2018-KF53, Class B, 2.38%, 10/25/2025(j)		1,101		948
Series 2019-KC03, Class B, 4.37%, 1/25/2026(a)(j)		5,000		4,402
Series 2019-KF62, Class B, 2.38%, 4/25/2026(a)(j)		925		772
Series 2019-KC06, Class B, 3.82%, 9/25/2026(a)(j)		7,600		6,363
Series 2010-K8, Class B, 5.29%, 9/25/2043(a)(j)		705		704
Series 2011-K15, Class B, 4.96%, 8/25/2044(a)(j)		135		136
Series 2012-K17, Class B, 4.32%, 12/25/2044(a)(j)		280		288

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
Series 2012-K18, Class B, 4.25%, 1/25/2045(a)(j)		385		396
Series 2012-K19, Class B, 4.02%, 5/25/2045(a)(j)		300		310
Series 2012-K21, Class B, 3.94%, 7/25/2045(a)(j)		530		543
Series 2012-K22, Class B, 3.69%, 8/25/2045(a)(j)		190		195
Series 2013-K26, Class B, 3.60%, 12/25/2045(a)(j)		6,500		6,661
Series 2011-K12, Class B, 4.34%, 1/25/2046(a)(j)		500		504
Series 2013-K31, Class C, 3.63%, 7/25/2046(a)(j)		3,000		2,975
Series 2013-K34, Class B, 3.73%, 9/25/2046(a)(j)		1,000		1,038
Series 2011-K14, Class B, 5.18%, 2/25/2047(a)(j)		1,100		1,110
Series 2014-K716, Class B, 3.95%, 8/25/2047(a)(j)		250		253
Series 2014-K40, Class C, 4.07%, 11/25/2047(a)(j)		2,000		1,960
Series 2011-K13, Class B, 4.61%, 1/25/2048(a)(j)		600		605
Series 2015-K49, Class B, 3.72%, 10/25/2048(a)(j)		5,282		5,410
Series 2015-K51, Class C, 3.95%, 10/25/2048(a)(j)		4,955		4,775
Series 2011-K11, Class B, 4.42%, 12/25/2048(a)(j)		305		307
Series 2017-K726, Class C, 3.97%, 7/25/2049(a)(j)		2,300		2,300
Series 2017-K729, Class B, 3.67%, 11/25/2049(a)(j)		200		200
Series 2017-K729, Class C, 3.67%, 11/25/2049(a)(j)		3,000		2,895
Series 2017-K62, Class C, 3.87%, 1/25/2050(a)(j)		5,081		4,835
Series 2017-K728, Class B, 3.65%, 11/25/2050(a)(j)		1,825		1,837
GNMA
Series 2015-115, IO, 0.55%, 7/16/2057(j)		2,602		99
Series 2017-54, IO, 0.64%, 12/16/2058(j)		16,102		801
Series 2017-23, IO, 0.74%, 5/16/2059(j)		3,081		165
GPMT Ltd. (Cayman Islands) Series 2018-FL1, Class A, 1.07%, 11/21/2035(a)(j)		102		101
GRACE Mortgage Trust Series 2014-GRCE, Class B, 3.52%, 6/10/2028‡(a)		4,100		4,123
GS Mortgage Securities Corp. Trust
Series 2016-RENT, Class C, 4.07%, 2/10/2029‡(a)(j)		4,200		4,152
Series 2016-RENT, Class E, 4.07%, 2/10/2029‡(a)(j)		2,000		1,955
GS Mortgage Securities Trust
Series 2013-GC12, Class E, 3.25%, 6/10/2046‡(a)		2,000		1,440
Series 2013-GC12, Class D, 4.45%, 6/10/2046‡(a)(j)		2,000		1,637
Series 2015-GC34, Class D, 2.98%, 10/10/2048‡		1,500		654
JP Morgan Chase Commercial Mortgage Securities Trust Series 2015-JP1, Class E, 4.24%, 1/15/2049‡(a)(j)		2,320		1,448
KNDL Mortgage Trust Series 2019-KNSQ, Class A, 0.98%, 5/15/2036(a)(j)		950		925
LB-UBS Commercial Mortgage Trust Series 2007-C6, Class AJ, 6.25%, 7/15/2040(j)		162		156
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2014-C15, Class C, 4.91%, 4/15/2047(j)		300		276
Series 2014-C17, Class D, 4.74%, 8/15/2047‡(a)(j)		2,000		1,323
Series 2015-C23, Class D, 4.15%, 7/15/2050‡(a)(j)		2,000		1,408
Morgan Stanley Capital I Trust
Series 2018-SUN, Class B, 1.38%, 7/15/2035‡(a)(j)		250		229
Series 2011-C1, Class E, 5.50%, 9/15/2047‡(a)(j)		3,000		2,914
MRCD Mortgage Trust
Series 2019-PARK, Class A, 2.72%, 12/15/2036(a)		6,960		6,911
Series 2019-PARK, Class B, 2.72%, 12/15/2036‡(a)		6,000		5,846
Series 2019-PARK, Class D, 2.72%, 12/15/2036‡(a)		10,000		9,492
Series 2019-PARK, Class E, 2.72%, 12/15/2036‡(a)		7,500		6,919
Multi-Family Connecticut Avenue Securities Trust Series 2019-01, Class M7, 1.87%, 10/15/2049‡(a)(j)		3,440		2,941
Nationslink Funding Corp. Commercial Loan Pass-Through Certificates Series 1999-LTL1, Class E, 5.00%, 1/22/2026‡(a)		358		363
Velocity Commercial Capital Loan Trust Series 2018-2, Class A, 4.05%, 10/26/2048(a)(j)		2,876		2,905
WFRBS Commercial Mortgage Trust
Series 2013-C11, Class B, 3.71%, 3/15/2045‡(j)		150		149
Series 2013-C12, Class B, 3.86%, 3/15/2048(j)		150		149
Series 2014-C22, Class D, 3.90%, 9/15/2057‡(a)(j)		1,000		800
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost $291,836)				262,892

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Investments	Principal Amount ($000)		Value ($000)
FOREIGN GOVERNMENT SECURITIES — 0.8%
Arab Republic of Egypt (Egypt)
6.13%, 1/31/2022(h)		700		710
5.58%, 2/21/2023(h)		500		502
5.75%, 5/29/2024(a)		1,000		1,003
5.88%, 6/11/2025(h)		500		500
Democratic Socialist Republic of Sri Lanka (Sri Lanka)
6.85%, 3/14/2024(a)		560		317
6.35%, 6/28/2024(a)		350		196
Federal Democratic Republic of Ethiopia (Ethiopia) 6.63%, 12/11/2024(h)		3,300		3,066
Federal Republic of Nigeria (Nigeria)
7.63%, 11/21/2025(h)		500		479
6.50%, 11/28/2027(h)		2,600		2,307
Islamic Republic of Pakistan (Pakistan) 8.25%, 4/15/2024(h)		300		300
Lebanese Republic (Lebanon) 6.38%, 3/9/2020(i)		4,362		820
Republic of Costa Rica (Costa Rica) 4.38%, 4/30/2025(h)		400		330
Republic of Ecuador (Ecuador) 10.65%, 1/31/2029(g)(h)(i)		3,249		1,166
Republic of El Salvador (El Salvador) 5.88%, 1/30/2025(h)		3,100		2,531
Republic of Ghana (Ghana) 6.38%, 2/11/2027(h)		2,600		2,318
Republic of Kenya (Kenya) 6.88%, 6/24/2024(h)		3,300		3,167
Republic of Paraguay (Paraguay) 4.95%, 4/28/2031(a)		960		1,034
Republic of Senegal (Senegal) 8.75%, 5/13/2021(h)		1,130		1,129
Ukraine Government Bond (Ukraine)
7.75%, 9/1/2020(h)		100		100
7.75%, 9/1/2021(h)		1,200		1,209
7.75%, 9/1/2023(h)		3,700		3,722
TOTAL FOREIGN GOVERNMENT SECURITIES (Cost $34,243)				26,906
	Shares (000)
SHORT-TERM INVESTMENTS — 1.6%
INVESTMENT COMPANIES — 1.5%
JPMorgan Prime Money Market Fund Class IM Shares, 0.52%(m)(n)(Cost $53,696)		53,652		53,705
	Principal Amount ($000)
U.S. TREASURY OBLIGATIONS — 0.1%
U.S. Treasury Bills 0.09%, 7/16/2020(o)(p)(Cost $2,367)		2,367		2,367
TOTAL SHORT-TERM INVESTMENTS (Cost $56,063)				56,072
Total Investments — 99.3% (Cost $3,493,235)				3,473,470
Other Assets Less Liabilities — 0.7%				25,708
Net Assets — 100.0%				3,499,178

Percentages indicated are based on net assets.

Abbreviations

ABS	Asset-backed securities
ACES	Alternative Credit Enhancement Securities
FHLMC	Federal Home Loan Mortgage Corp.
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
ICE	Intercontinental Exchange
IF	Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the rate in effect as of May 31, 2020. The rate may be subject to a cap and floor.
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.

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

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
(a)	Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended.
(b)	Amount rounds to less than 0.1% of net assets.
(c)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of May 31, 2020.
(d)	Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of May 31, 2020.
(e)	Security is an interest bearing note with preferred security characteristics.
(f)	Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed.
(g)	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 May 31, 2020.
(h)	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.
(i)	Defaulted security.
(j)	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 May 31, 2020.
(k)	Amount rounds to less than one thousand.
(l)	All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(m)	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.
(n)	The rate shown is the current yield as of May 31, 2020.
(o)	All or a portion of this security is deposited with the broker as initial margin for futures contracts.
(p)	The rate shown is the effective yield as of May 31, 2020.
‡	Value determined using significant unobservable inputs.

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

Futures contracts outstanding as of May 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
U.S. Treasury 2 Year Note		1,052			09/2020		USD		232,319			32
U.S. Treasury 5 Year Note		28			09/2020		USD		3,518			—	(a)
U.S. Treasury Long Bond		115			09/2020		USD		20,484			79
U.S. Treasury Ultra Bond		29			09/2020		USD		6,305			3
												114
Short Contracts
U.S. Treasury 10 Year Note		(911	)		09/2020		USD		(126,686	)		(165	)
U.S. Treasury 10 Year Ultra Note		(295	)		09/2020		USD		(46,389	)		(175	)
												(340	)
												(226	)

Abbreviations

USD United States Dollar

(a) Amount rounds to less than one thousand.

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.

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.

A market-based approach is primarily used to value the Fund’s investments. Investments for which market quotations are not readily available are fair valued by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”) or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.

Fixed income instruments are valued based on prices received from Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

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

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

See the table on “Quantitative Information about Level 3 Fair Value Measurements” for information on the valuation techniques and inputs used to value level 3 securities held by the Fund at May 31, 2020.

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).

JPMorgan Short Duration Core Plus Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

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

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
Asset-Backed Securities	$	—		$	344,481	$	38,428	$	382,909
Collateralized Mortgage Obligations		—			466,725		20,268		486,993
Commercial Mortgage-Backed Securities		—			159,406		103,486		262,892
Corporate Bonds		—			1,536,034		—		1,536,034
Foreign Government Securities		—			26,906		—		26,906
Mortgage-Backed Securities		—			310,212		—		310,212
U.S. Treasury Obligations		—			411,452		—		411,452
Short-Term Investments
Investment Companies		53,705			—		—		53,705
U.S. Treasury Obligations		—			2,367		—		2,367
Total Short-Term Investments		53,705			2,367		—		56,072
Total Investments in Securities	$	53,705		$	3,257,583	$	162,182	$	3,473,470
Appreciation in Other Financial Instruments
Futures Contracts	$	114		$	—	$	—	$	114
Depreciation in Other Financial Instruments
Futures Contracts	$	(340	)	$	—	$	—	$	(340	)

The following is a summary of investments for which significant unobservable inputs (level 3) were used in determining fair value (amounts in thousands):

	Balance as of February 29, 2020		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 May 31, 2020
Investments in Securities
Asset-Backed Securities	$	43,733	$	—		$	(2,810	)	$	(1	)	$	—	$	(4,178	)	$	1,684	$	—		$	38,428
Collateralized Mortgage Obligations		24,529		—			(2,014	)		—	(a)		—		(473	)		3,254		(5,028	)		20,268
Commercial Mortgage-Backed Securities		82,677		(646	)		(18,684	)		7			—		(1,700	)		43,269		(1,437	)		103,486
Corporate Bonds — Wireless Telecommunication Services		486		2			(6	)		2			—		(484	)		—		—			—
Total	$	151,425	$	(644	)	$	(23,514	)	$	8		$	—	$	(6,835	)	$	48,207	$	(6,465	)	$	162,182

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.

The changes in net unrealized appreciation (depreciation) attributable to securities owned at May 31, 2020, which were valued using significant unobservable inputs (level 3), amounted to $(23,446).

Transfers between level 2 and level 3 are due to a decline or an increase in market activity (e.g. frequency of trades), which resulted in a lack or increase of available market inputs to determine the price for the period ended May 31, 2020.

Quantitative Information about Level 3 Fair Value Measurements #

(Amounts in thousands)

	Fair Value at May 31, 2020		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (a)
	$	38,426	Discounted Cash Flow	Constant Prepayment Rate	0.00% - 25.00% (19.02%)
				Constan Default Rate	0.00% - 1.77% (0.03%)
				Yield (Discount Rate of Cash Flows)	3.13% - 26.34% (8.59%)
Asset-Backed Securities		38,426
		20,266	Discounted Cash Flow	Constant Prepayment Rate	10.00% - 25.00% (18.53%)
				Constan Default Rate	0.00% - 0.10% (0.00%)
				Yield (Discount Rate of Cash Flows)	1.98% - 7.31% (4.78%)
Collateralized Mortgage Obligation		20,266
		102,777	Discounted Cash Flow	Constant Prepayment Rate	0.00% - 100.00% (4.01%)
				Yield (Discount Rate of Cash Flows)	2.42% - 21.19% (7.05%)
Commercial Mortgage-Backed Securities		102,777
Total	$	161,469

# The table above does not include certain level 3 investments that are valued by brokers and pricing services. At May 31, 2020, the value of these investments was approximately $713,000. The inputs for these investments are not readily available or cannot be reasonably estimated and generally are those inputs described in Note A.

(a) Unobservable inputs were weighted by the relative fair value of the instruments.

The significant unobservable inputs used in the fair value measurement of the Fund’s investments are listed above. Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. The impact is based on the relationship between each unobservable input and the fair value measurement. Significant increases (decreases) in the yield and default rate may decrease (increase) the fair value measurement. A significant change in the prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

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 May 31, 2020
Security Description	Value at February 29, 2020		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation/ (Depreciation)			Value at May 31, 2020		Shares at May 31, 2020		Dividend Income		Capital Gain Distributions
JPMorgan Prime Money Market Fund Class IM Shares, 0.52%(a)(b)	$	88,599	$	457,896	$	492,796	$	17	$	(11	)	$	53,705		53,652	$	155	$	—
JPMorgan U.S. Government Money Market Fund Class IM Shares(a)		7,158		4,474		11,632		—		—			—		—		3		—
Total	$	95,757	$	462,370	$	504,428	$	17	$	(11	)	$	53,705			$	158	$	—

(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 May 31, 2020.