NPORT-EX 2 HG_ISE.htm HTML

JPMorgan U.S. Sustainable Leaders Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF SEPTEMBER 30, 2020 (Unaudited)

 

Investments

    Shares (000)      Value ($000)  

COMMON STOCKS — 95.5%

 

Auto Components — 1.6%

 

Aptiv plc

      10        886  
     

 

 

  

Banks — 3.8%

 

Bank of America Corp.

      50        1,216  

Citigroup, Inc.

      21        887  
     

 

 

  
        2,103  
     

 

 

  

Biotechnology — 3.3%

 

Amgen, Inc.

      4        1,036  

Biogen, Inc. *

      1        287  

Gilead Sciences, Inc.

      8        531  
     

 

 

  
        1,854  
     

 

 

  

Building Products — 4.7%

 

Owens Corning

      15        1,006  

Trane Technologies plc

      10        1,157  

Trex Co., Inc. *

      6        435  
     

 

 

  
        2,598  
     

 

 

  

Capital Markets — 2.4%

 

S&P Global, Inc.

      2        804  

State Street Corp.

      9        539  
     

 

 

  
        1,343  
     

 

 

  

Communications Equipment — 2.0%

 

Cisco Systems, Inc.

      28        1,092  
     

 

 

  

Containers & Packaging — 1.5%

 

Ball Corp.

      10        854  
     

 

 

  

Diversified Financial Services — 0.9%

 

Voya Financial, Inc.

      10        493  
     

 

 

  

Diversified Telecommunication Services — 3.3%

 

Verizon Communications, Inc.

      31        1,832  
     

 

 

  

Electric Utilities — 1.5%

 

NextEra Energy, Inc.

      3        812  
     

 

 

  

Electrical Equipment — 1.5%

 

Eaton Corp. plc

      8        842  
     

 

 

  

Entertainment — 6.0%

 

Electronic Arts, Inc. *

      8        1,098  

Netflix, Inc. *

      1        445  

Walt Disney Co. (The)

      15        1,812  
     

 

 

  
        3,355  
     

 

 

  

Equity Real Estate Investment Trusts (REITs) — 5.1%

 

American Tower Corp.

      4        911  

Boston Properties, Inc.

      6        483  

Equinix, Inc.

      1        859  

Prologis, Inc.

      6        567  
     

 

 

  
        2,820  
     

 

 

  

Food Products — 2.5%

 

General Mills, Inc.

      14        865  

Kellogg Co.

      8        546  
     

 

 

  
        1,411  
     

 

 

  

Health Care Equipment & Supplies — 1.2%

 

Hologic, Inc. *

      10        682  
     

 

 

  

Health Care Providers & Services — 1.8%

 

Cigna Corp.

      6        984  
     

 

 

  

Household Products — 4.0%

 

Clorox Co. (The)

      3        530  

Procter & Gamble Co. (The)

      12        1,719  
     

 

 

  
        2,249  
     

 

 

  

Insurance — 1.6%

 

Lincoln National Corp.

      11        349  

Travelers Cos., Inc. (The)

      5        538  
     

 

 

  
        887  
     

 

 

  

IT Services — 4.6%

 

Accenture plc, Class A

      3        606  

Mastercard, Inc., Class A

      6        1,931  
     

 

 

  
        2,537  
     

 

 

  

Life Sciences Tools & Services — 4.0%

 

Agilent Technologies, Inc.

      5        488  

Illumina, Inc. *

      1        383  

IQVIA Holdings, Inc. *

      5        787  

Thermo Fisher Scientific, Inc.

      1        565  
     

 

 

  
        2,223  
     

 

 

  

Machinery — 3.4%

 

Deere & Co.

      5        1,042  

Parker-Hannifin Corp.

      2        364  

Xylem, Inc.

      6        476  
     

 

 

  
        1,882  
     

 

 

  

Multiline Retail — 2.2%

 

Target Corp.

      8        1,243  
     

 

 

  

Pharmaceuticals — 4.0%

 

Bristol-Myers Squibb Co.

      18        1,108  

Merck & Co., Inc.

      13        1,112  
     

 

 

  
        2,220  
     

 

 

  

Semiconductors & Semiconductor Equipment — 6.2%

 

Applied Materials, Inc.

      10        603  

Lam Research Corp.

      3        980  

NVIDIA Corp.

      1        666  

Texas Instruments, Inc.

      9        1,257  
     

 

 

  
        3,506  
     

 

 

  

Software — 14.9%

 

Adobe, Inc. *

      1        608  

Cadence Design Systems, Inc. *

      9        960  

Intuit, Inc.

      3        835  

Microsoft Corp.

      22        4,531  

salesforce.com, Inc. *

      6        1,422  
     

 

 

  
        8,356  
     

 

 

  

Specialty Retail — 6.0%

 

Best Buy Co., Inc.

      10        1,167  

Home Depot, Inc. (The)

      8        2,164  
     

 

 

  
        3,331  
     

 

 

  

Textiles, Apparel & Luxury Goods — 1.5%

 

VF Corp.

      12        849  
     

 

 

  

TOTAL COMMON STOCKS

(Cost $42,526)

         53,244  
  

 

 

  

JPMorgan U.S. Sustainable Leaders Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF SEPTEMBER 30, 2020 (Unaudited) (continued)

 

Investments

    Shares (000)      Value ($000)  

SHORT-TERM INVESTMENTS — 4.0%

 

INVESTMENT COMPANIES — 4.0%

 

JPMorgan Prime Money Market Fund Class IM Shares, 0.23% (a) (b)

(Cost $2,227)

      2,226        2,227  
     

 

 

  

Total Investments — 99.5%

(Cost $44,753)

         55,471  

Other Assets Less Liabilities — 0.5%

 

      261  
  

 

 

  

Net Assets — 100.0%

 

      55,732  
  

 

 

  

 

Percentages indicated are based on net assets.

JPMorgan U.S. Sustainable Leaders Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF SEPTEMBER 30, 2020 (Unaudited) (continued)

 

(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 September 30, 2020.

*

Non-income producing security.

Futures contracts outstanding as of September 30, 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

 

E-Mini S&P 500 ESG Index

      8        12/2020      USD      1,144        3  
              

 

 

  

Abbreviations

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.

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.

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 (“SOI”) (amounts in thousands):

 

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

Total Investments in Securities (a)

    $ 55,471      $ —        $ —        $ 55,471  
  

 

 

     

 

 

     

 

 

     

 

 

  

Appreciation in Other Financial Instruments

 

Futures Contracts (a)

    $ 3      $ —        $ —        $ 3  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a)

Please refer to the SOI for specifics of portfolio holdings.

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.

JPMorgan U.S. Sustainable Leaders Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF SEPTEMBER 30, 2020 (Unaudited) (continued)

 

For the period ended September 30, 2020

  

Security Description

    Value at
June  30,
2020		      Purchases
at Cost		      Proceeds
from Sales		      Net Realized
Gain (Loss)		     Change in
Unrealized
Appreciation/
(Depreciation)		      Value at
September 30,
2020		      Shares at
September 30,
2020		      Dividend
Income		     Capital Gain
Distributions		  

JPMorgan Prime Money Market Fund Class IM Shares, 0.23% (a) (b)

    $ 1,605      $ 10,553      $ 9,931      $ —   (c)    $ —        $ 2,227        2,226      $ 1     $ —    

JPMorgan U.S. Government Money Market Fund Class IM Shares (a)

      326        1,513        1,839        —         —          —          —          —   (c)      —    
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

        

 

 

    

 

 

  

Total

    $ 1,931      $ 12,066      $ 11,770      $ —   (c)    $ —        $ 2,227         $ 1     $ —    
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

        

 

 

    

 

 

  

 

(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 September 30, 2020.

(c)

Amount rounds to less than one thousand.