THE “UNAUDITED MUTUAL FUNDS HOLDINGS” LIST (“the
List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS
NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR
SALES LITERATURE WITH THE GENERAL PUBLIC. The list is
submitted for the general information of the shareholders of the Fund.
It is not authorized for distribution to prospective investors in the Fund
unless preceded or accompanied by a prospectus. The list has been
created from the books and records of the Fund. Holdings are
available 60 days after the fund’s fiscal quarter, using a trade date
accounting convention, by contacting the appropriate service center.
The list is subject to change without notice. The list is for
informational purposes only and is not intended as an offer or
solicitation with respect to the purchase or sale of any security.
|
JPMorgan Asset Management is the marketing name for the asset
management business of J.P. Morgan Chase & Co.
|
J.P. Morgan Distribution Services, Inc., member FINRA.
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© J.P. Morgan Chase & Co., 2024.
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INVESTMENTS
|
SHARES
(000)
|
VALUE
($000)
|
Common Stocks — 97.2%
|
||
Australia — 2.1%
|
||
BHP Group Ltd.
|
1,030
|
31,541
|
Belgium — 1.9%
|
||
KBC Group NV
|
440
|
28,719
|
Canada — 4.3%
|
||
Alimentation Couche-Tard, Inc.
|
503
|
29,459
|
Canadian National Railway Co.
|
283
|
35,139
|
|
|
64,598
|
China — 4.7%
|
||
JD.com, Inc., ADR
|
701
|
15,813
|
Tencent Holdings Ltd.
|
1,575
|
54,649
|
|
|
70,462
|
Denmark — 2.0%
|
||
Novo Nordisk A/S, Class B
|
264
|
30,149
|
France — 10.9%
|
||
Air Liquide SA
|
115
|
21,531
|
Cie Generale des Etablissements Michelin SCA
|
443
|
14,708
|
Dassault Systemes SE
|
288
|
14,922
|
Engie SA
|
1,288
|
20,583
|
LVMH Moet Hennessy Louis Vuitton SE
|
20
|
16,767
|
Safran SA
|
196
|
36,559
|
Vinci SA
|
299
|
37,739
|
|
|
162,809
|
Germany — 5.3%
|
||
Allianz SE (Registered)
|
153
|
40,816
|
Deutsche Post AG
|
424
|
20,332
|
Infineon Technologies AG
|
450
|
16,411
|
RWE AG
|
63
|
2,327
|
|
|
79,886
|
Hong Kong — 1.4%
|
||
AIA Group Ltd.
|
2,701
|
21,186
|
India — 1.3%
|
||
HDFC Bank Ltd., ADR
|
339
|
18,832
|
Indonesia — 2.7%
|
||
Bank Central Asia Tbk. PT
|
40,076
|
24,247
|
Telkom Indonesia Persero Tbk. PT
|
65,719
|
16,484
|
|
|
40,731
|
Italy — 1.4%
|
||
UniCredit SpA
|
709
|
20,768
|
Japan — 15.4%
|
||
Daikin Industries Ltd.
|
140
|
22,448
|
Hitachi Ltd.
|
210
|
16,488
|
Hoya Corp.
|
165
|
20,934
|
Keyence Corp.
|
57
|
25,323
|
INVESTMENTS
|
SHARES
(000)
|
VALUE
($000)
|
Common Stocks — continued
|
||
Japan — continued
|
||
Mitsubishi UFJ Financial Group, Inc.
|
2,500
|
23,416
|
Nippon Telegraph & Telephone Corp.
|
17,507
|
21,985
|
Shin-Etsu Chemical Co. Ltd.
|
839
|
33,033
|
Sony Group Corp.
|
301
|
29,519
|
Terumo Corp.
|
460
|
15,582
|
Tokio Marine Holdings, Inc.
|
840
|
22,141
|
|
|
230,869
|
Mexico — 1.5%
|
||
Wal-Mart de Mexico SAB de CV
|
5,230
|
21,600
|
Netherlands — 6.9%
|
||
ASML Holding NV
|
49
|
42,333
|
Shell plc
|
1,973
|
61,161
|
|
|
103,494
|
Singapore — 2.1%
|
||
DBS Group Holdings Ltd.
|
1,334
|
31,599
|
South Korea — 3.8%
|
||
Samsung Electronics Co. Ltd.
|
1,031
|
56,006
|
Spain — 1.5%
|
||
Industria de Diseno Textil SA
|
512
|
21,917
|
Sweden — 2.5%
|
||
Atlas Copco AB, Class A
|
1,489
|
23,760
|
Volvo AB, Class B
|
589
|
14,113
|
|
|
37,873
|
Taiwan — 4.7%
|
||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR
|
621
|
70,128
|
United Kingdom — 13.7%
|
||
3i Group plc
|
1,034
|
32,366
|
AstraZeneca plc
|
108
|
14,296
|
BP plc
|
7,771
|
45,387
|
Diageo plc
|
482
|
17,412
|
InterContinental Hotels Group plc
|
251
|
23,740
|
Lloyds Banking Group plc
|
60,675
|
32,525
|
RELX plc
|
947
|
39,079
|
|
|
204,805
|
United States — 7.1%
|
||
Ferguson plc
|
182
|
34,113
|
Linde plc
|
70
|
28,177
|
Nestle SA (Registered)
|
384
|
43,769
|
|
|
106,059
|
Total Common Stocks
(Cost $1,184,649)
|
|
1,454,031
|
INVESTMENTS
|
SHARES
(000)
|
VALUE
($000)
|
Short-Term Investments — 2.4%
|
||
Investment Companies — 2.4%
|
||
JPMorgan Prime Money Market Fund Class Institutional Shares, 5.38% (a) (b)(Cost $36,405)
|
36,381
|
36,406
|
Total Investments — 99.6%
(Cost $1,221,054)
|
|
1,490,437
|
Other Assets Less Liabilities — 0.4%
|
|
6,490
|
NET ASSETS — 100.0%
|
|
1,496,927
|
Percentages indicated are based on net assets.
|
Abbreviations
|
|
ADR
|
American Depositary Receipt
|
PT
|
Limited liability company
|
SCA
|
Limited partnership with share capital
|
(a)
|
Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised
by J.P. Morgan Investment
Management Inc.
|
(b)
|
The rate shown is the current yield as of January 31, 2024.
|
INDUSTRY
|
PERCENT OF
TOTAL
INVESTMENTS
|
Banks
|
12.1
%
|
Semiconductors & Semiconductor Equipment
|
8.6
|
Oil, Gas & Consumable Fuels
|
7.1
|
Insurance
|
5.6
|
Chemicals
|
5.5
|
Technology Hardware, Storage & Peripherals
|
3.8
|
Interactive Media & Services
|
3.7
|
Consumer Staples Distribution & Retail
|
3.4
|
Pharmaceuticals
|
3.0
|
Food Products
|
2.9
|
Professional Services
|
2.6
|
Diversified Telecommunication Services
|
2.6
|
Machinery
|
2.5
|
Construction & Engineering
|
2.5
|
Aerospace & Defense
|
2.5
|
Health Care Equipment & Supplies
|
2.4
|
Ground Transportation
|
2.4
|
Trading Companies & Distributors
|
2.3
|
Capital Markets
|
2.2
|
Metals & Mining
|
2.1
|
Household Durables
|
2.0
|
Electronic Equipment, Instruments & Components
|
1.7
|
Hotels, Restaurants & Leisure
|
1.6
|
Building Products
|
1.5
|
Specialty Retail
|
1.5
|
Multi-Utilities
|
1.4
|
Air Freight & Logistics
|
1.4
|
Beverages
|
1.2
|
Textiles, Apparel & Luxury Goods
|
1.1
|
Industrial Conglomerates
|
1.1
|
Broadline Retail
|
1.1
|
Software
|
1.0
|
Automobile Components
|
1.0
|
Independent Power and Renewable Electricity Producers
|
0.2
|
Short-Term Investments
|
2.4
|
|
|
|
||
|
Level 1
Quoted prices
|
Level 2
Other significant
observable inputs
|
Level 3
Significant
unobservable inputs
|
Total
|
Investments in Securities
|
|
|
|
|
Common Stocks
|
|
|
|
|
Australia
|
$—
|
$31,541
|
$—
|
$31,541
|
Belgium
|
—
|
28,719
|
—
|
28,719
|
Canada
|
64,598
|
—
|
—
|
64,598
|
China
|
15,813
|
54,649
|
—
|
70,462
|
Denmark
|
—
|
30,149
|
—
|
30,149
|
France
|
—
|
162,809
|
—
|
162,809
|
Germany
|
—
|
79,886
|
—
|
79,886
|
Hong Kong
|
—
|
21,186
|
—
|
21,186
|
|
|
|
||
|
Level 1
Quoted prices
|
Level 2
Other significant
observable inputs
|
Level 3
Significant
unobservable inputs
|
Total
|
India
|
$18,832
|
$—
|
$—
|
$18,832
|
Indonesia
|
—
|
40,731
|
—
|
40,731
|
Italy
|
—
|
20,768
|
—
|
20,768
|
Japan
|
—
|
230,869
|
—
|
230,869
|
Mexico
|
21,600
|
—
|
—
|
21,600
|
Netherlands
|
—
|
103,494
|
—
|
103,494
|
Singapore
|
—
|
31,599
|
—
|
31,599
|
South Korea
|
—
|
56,006
|
—
|
56,006
|
Spain
|
—
|
21,917
|
—
|
21,917
|
Sweden
|
—
|
37,873
|
—
|
37,873
|
Taiwan
|
70,128
|
—
|
—
|
70,128
|
United Kingdom
|
—
|
204,805
|
—
|
204,805
|
United States
|
—
|
106,059
|
—
|
106,059
|
Total Common Stocks
|
190,971
|
1,263,060
|
—
|
1,454,031
|
Short-Term Investments
|
|
|
|
|
Investment Companies
|
36,406
|
—
|
—
|
36,406
|
Total Investments in Securities
|
$227,377
|
$1,263,060
|
$—
|
$1,490,437
|
|
|||||||||
For the period ended January 31, 2024
|
|||||||||
Security Description
|
Value at
October 31,
2023
|
Purchases at
Cost
|
Proceeds from
Sales
|
Net Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation/
(Depreciation)
|
Value at
January 31,
2024
|
Shares at
January 31,
2024
|
Dividend
Income
|
Capital Gain
Distributions
|
JPMorgan Prime Money Market Fund
Class Institutional Shares, 5.38% (a) (b)
|
$32,826
|
$132,119
|
$128,547
|
$13
|
$(5
)
|
$36,406
|
36,381
|
$296
|
$—
|
JPMorgan Securities Lending Money Market Fund
Agency SL Class Shares, 5.51% (a) (b)
|
12,000
|
29,501
|
41,504
|
3
|
—
|
—
|
—
|
104
|
—
|
JPMorgan U.S. Government Money Market Fund
Class IM Shares, 5.26% (a) (b)
|
2,562
|
21,392
|
23,954
|
—
|
—
|
—
|
—
|
34
|
—
|
Total
|
$47,388
|
$183,012
|
$194,005
|
$16
|
$(5
)
|
$36,406
|
|
$434
|
$—
|
|
|
(a)
|
Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised
by J.P. Morgan
Investment Management Inc.
|
(b)
|
The rate shown is the current yield as of January 31, 2024.
|