NPORT-EX 2 JPMDIVF.htm EDGAR HTML
JPMorgan Developed International Value Fund
Schedule of Portfolio Investments as of July 31, 2024
(Unaudited) 
THE “UNAUDITED MUTUAL FUNDS HOLDINGS” LIST (“the
List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS
NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR
SALES LITERATURE WITH THE GENERAL PUBLIC. The list is
submitted for the general information of the shareholders of the Fund.
It is not authorized for distribution to prospective investors in the Fund
unless preceded or accompanied by a prospectus. The list has been
created from the books and records of the Fund. Holdings are
available 60 days after the fund’s fiscal quarter, using a trade date
accounting convention, by contacting the appropriate service center.
The list is subject to change without notice. The list is for
informational purposes only and is not intended as an offer or
solicitation with respect to the purchase or sale of any security.
JPMorgan Asset Management is the marketing name for the asset
management business of J.P. Morgan Chase & Co.
J.P. Morgan Distribution Services, Inc., member FINRA.
© J.P. Morgan Chase & Co., 2024.
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited)
 
INVESTMENTS
SHARES
(000)
VALUE
($000)
Common Stocks — 96.9%
Australia — 5.8%
BHP Group Ltd.
381
10,578
BlueScope Steel Ltd.
122
1,773
Glencore plc
806
4,472
Insignia Financial Ltd.
716
1,298
JB Hi-Fi Ltd.
30
1,385
New Hope Corp. Ltd.
355
1,133
Perseus Mining Ltd.
628
1,046
QBE Insurance Group Ltd.
125
1,474
Rio Tinto plc
126
8,207
Ventia Services Group Pty. Ltd.
421
1,212
Vicinity Ltd., REIT
1,195
1,657
Whitehaven Coal Ltd.
262
1,321
 
35,556
Austria — 1.0%
ANDRITZ AG
20
1,280
Erste Group Bank AG
40
2,078
OMV AG
29
1,214
Telekom Austria AG
173
1,599
 
6,171
Belgium — 0.8%
Ageas SA
25
1,223
KBC Group NV
29
2,222
Proximus SADP
77
558
Solvay SA
32
1,115
 
5,118
China — 0.7%
BOC Hong Kong Holdings Ltd.
639
1,859
Yangzijiang Shipbuilding Holdings Ltd.
1,128
2,275
 
4,134
Denmark — 1.2%
Carlsberg A/S, Class B
10
1,254
Danske Bank A/S
73
2,216
H Lundbeck A/S
221
1,382
ISS A/S
47
855
Jyske Bank A/S (Registered)
10
833
Sydbank A/S
17
915
 
7,455
Finland — 1.6%
Konecranes OYJ
29
2,024
Nokia OYJ
667
2,621
Nordea Bank Abp
45
531
Nordea Bank Abp
248
2,903
UPM-Kymmene OYJ
53
1,739
 
9,818
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Common Stocks — continued
France — 9.1%
AXA SA
140
4,919
BNP Paribas SA
84
5,747
Cie de Saint-Gobain SA
43
3,698
Cie Generale des Etablissements Michelin SCA
69
2,736
Coface SA
85
1,289
Credit Agricole SA
165
2,507
Eiffage SA
12
1,140
Engie SA
198
3,105
Eurazeo SE
15
1,193
Orange SA
170
1,891
Renault SA
45
2,160
Rexel SA
44
1,124
Rubis SCA
39
1,223
SCOR SE
10
214
Societe Generale SA
87
2,257
Television Francaise 1 SA
139
1,221
TotalEnergies SE
155
10,468
Unibail-Rodamco-Westfield, REIT
18
1,351
Vallourec SACA *
100
1,622
Vicat SACA
28
976
Vinci SA
42
4,804
 
55,645
Georgia — 0.2%
Bank of Georgia Group plc
21
1,208
Germany — 9.2%
Allianz SE (Registered)
30
8,440
Bayerische Motoren Werke AG
28
2,622
Bilfinger SE
24
1,361
Commerzbank AG
165
2,686
Deutsche Bank AG (Registered)
218
3,394
Deutsche Telekom AG (Registered)
243
6,355
Douglas AG *
47
973
E.ON SE
233
3,273
Freenet AG
21
580
Fresenius SE & Co. KGaA *
58
2,090
Heidelberg Materials AG
23
2,384
Henkel AG & Co. KGaA (Preference)
29
2,462
HOCHTIEF AG
16
1,909
Hornbach Holding AG & Co. KGaA
14
1,140
LEG Immobilien SE
19
1,612
Mercedes-Benz Group AG
63
4,167
Muenchener Rueckversicherungs-Gesellschaft AG (Registered)
12
5,731
SAF-Holland SE
76
1,561
Talanx AG
16
1,238
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Common Stocks — continued
Germany — continued
Traton SE (a)
39
1,244
TUI AG *
137
884
 
56,106
Hong Kong — 0.5%
Pacific Basin Shipping Ltd.
3,041
913
Prudential plc
89
802
United Laboratories International Holdings Ltd. (The)
944
1,084
 
2,799
Ireland — 1.1%
AerCap Holdings NV
26
2,436
AIB Group plc
260
1,491
Cairn Homes plc
523
1,070
Glenveagh Properties plc * (b)
591
880
Greencore Group plc *
509
1,179
 
7,056
Israel — 0.2%
Plus500 Ltd.
45
1,351
Italy — 6.4%
Azimut Holding SpA
22
551
Banca Monte dei Paschi di Siena SpA
229
1,252
Banco BPM SpA
226
1,563
BFF Bank SpA (b)
150
1,693
Buzzi SpA
29
1,124
Danieli & C Officine Meccaniche SpA
43
1,246
Enel SpA
693
4,951
Eni SpA
202
3,229
Generali
104
2,703
Intesa Sanpaolo SpA
1,140
4,629
Iveco Group NV
95
979
Maire SpA
133
1,058
Mediobanca Banca di Credito Finanziario SpA
93
1,503
Pirelli & C SpA (b)
196
1,227
Poste Italiane SpA (b)
126
1,710
Saipem SpA *
773
1,835
UniCredit SpA
116
4,784
Unipol Gruppo SpA
195
2,096
Webuild SpA
433
1,133
 
39,266
Japan — 19.9%
Asahi Group Holdings Ltd.
62
2,279
Cosmo Energy Holdings Co. Ltd.
40
2,163
Credit Saison Co. Ltd.
89
2,054
Dai-ichi Life Holdings, Inc.
81
2,479
ENEOS Holdings, Inc.
411
2,152
Furukawa Electric Co. Ltd.
41
1,133
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Common Stocks — continued
Japan — continued
Gunma Bank Ltd. (The)
202
1,369
Hitachi Ltd.
57
1,232
Hokkaido Electric Power Co., Inc.
167
1,138
Honda Motor Co. Ltd.
374
3,994
Idemitsu Kosan Co. Ltd.
240
1,578
Inpex Corp.
135
2,078
Isuzu Motors Ltd.
115
1,554
ITOCHU Corp.
96
4,944
Japan Airlines Co. Ltd.
66
1,071
JFE Holdings, Inc.
123
1,797
Kamigumi Co. Ltd.
55
1,243
Kandenko Co. Ltd.
85
1,147
Kansai Electric Power Co., Inc. (The)
117
2,001
Kansai Paint Co. Ltd.
65
1,068
Komatsu Ltd.
93
2,630
Marubeni Corp.
162
3,043
Mitsubishi Corp.
94
1,941
Mitsubishi UFJ Financial Group, Inc.
825
9,531
Mitsui & Co. Ltd.
137
3,188
Mitsui Fudosan Co. Ltd.
304
3,149
Mizuho Financial Group, Inc.
203
4,636
Modec, Inc.
63
1,166
MS&AD Insurance Group Holdings, Inc.
155
3,664
Niterra Co. Ltd.
42
1,232
Nomura Real Estate Holdings, Inc.
54
1,512
ORIX Corp.
115
2,782
Osaka Gas Co. Ltd.
94
2,116
Sega Sammy Holdings, Inc.
76
1,234
Sekisui House Ltd.
90
2,253
Shimamura Co. Ltd.
24
1,196
SKY Perfect JSAT Holdings, Inc.
230
1,353
Sojitz Corp.
68
1,609
Sompo Holdings, Inc.
114
2,606
Subaru Corp.
82
1,571
Sumitomo Corp.
117
2,905
Sumitomo Electric Industries Ltd.
118
1,782
Sumitomo Forestry Co. Ltd.
54
2,303
Sumitomo Mitsui Financial Group, Inc.
100
7,221
Sumitomo Realty & Development Co. Ltd.
58
1,930
Tokyo Steel Manufacturing Co. Ltd.
133
1,697
Tokyo Tatemono Co. Ltd.
86
1,505
Toyota Motor Corp.
258
4,962
Toyota Tsusho Corp.
123
2,465
Tsubakimoto Chain Co.
40
1,738
UACJ Corp.
35
1,002
Yokohama Rubber Co. Ltd. (The)
51
1,164
 
121,560
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Common Stocks — continued
Netherlands — 2.7%
ABN AMRO Bank NV, CVA (b)
94
1,636
Aegon Ltd.
267
1,731
ASR Nederland NV
29
1,482
ING Groep NV
288
5,226
Koninklijke Heijmans N.V., CVA
78
2,254
NN Group NV
59
2,977
OCI NV
46
1,097
 
16,403
Norway — 1.7%
Aker Solutions ASA (b)
231
1,102
DNB Bank ASA
89
1,847
Equinor ASA
99
2,635
Frontline plc
46
1,135
Hoegh Autoliners ASA
125
1,366
Telenor ASA
91
1,084
Wallenius Wilhelmsen ASA
126
1,167
 
10,336
Peru — 0.2%
Hochschild Mining plc *
497
1,159
Singapore — 1.7%
DBS Group Holdings Ltd.
74
2,021
Hafnia Ltd.
160
1,265
Oversea-Chinese Banking Corp. Ltd.
336
3,742
United Overseas Bank Ltd.
135
3,281
 
10,309
South Africa — 0.6%
Anglo American plc
115
3,491
Spain — 3.1%
Banco Bilbao Vizcaya Argentaria SA
510
5,347
Banco de Sabadell SA
763
1,611
Banco Santander SA
1,273
6,142
Bankinter SA
139
1,188
CaixaBank SA
400
2,331
Tecnicas Reunidas SA *
102
1,268
Unicaja Banco SA (b)
841
1,132
 
19,019
Sweden — 2.4%
Ambea AB (b)
185
1,376
Betsson AB, Class B *
84
995
Granges AB
95
1,155
Loomis AB
31
993
NCC AB, Class B
89
1,378
Skandinaviska Enskilda Banken AB, Class A
151
2,326
Storskogen Group AB, Class B
1,103
896
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Common Stocks — continued
Sweden — continued
Svenska Handelsbanken AB, Class A
154
1,558
Swedbank AB, Class A
100
2,132
Tele2 AB, Class B
167
1,715
 
14,524
Switzerland — 4.0%
Aryzta AG *
519
995
Novartis AG (Registered)
142
15,823
UBS Group AG (Registered)
37
1,126
Zurich Insurance Group AG
12
6,439
 
24,383
United Kingdom — 13.1%
3i Group plc
110
4,422
Aviva plc
292
1,879
Balfour Beatty plc
249
1,346
Barclays plc
1,539
4,603
Beazley plc
140
1,234
Bellway plc
29
1,072
British Land Co. plc (The), REIT
214
1,133
BT Group plc
1,052
1,907
Centrica plc
1,259
2,147
Currys plc *
1,302
1,361
Great Portland Estates plc, REIT
208
938
Harbour Energy plc
272
1,093
Hiscox Ltd.
69
1,133
HSBC Holdings plc
1,502
13,659
IG Group Holdings plc
56
672
Imperial Brands plc
99
2,722
Inchcape plc
120
1,307
International Consolidated Airlines Group SA *
490
1,047
Investec plc
232
1,839
ITV plc
1,379
1,419
J Sainsbury plc
449
1,594
JET2 plc
54
999
Kier Group plc
696
1,448
Land Securities Group plc, REIT
188
1,542
Lloyds Banking Group plc
5,509
4,208
Man Group plc
271
852
Marks & Spencer Group plc
492
2,080
Mitie Group plc
948
1,477
NatWest Group plc
676
3,207
Paragon Banking Group plc
180
1,861
Premier Foods plc
451
1,044
Serco Group plc
374
918
Shaftesbury Capital plc, REIT
504
987
SSE plc
113
2,734
Standard Chartered plc
291
2,874
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Common Stocks — continued
United Kingdom — continued
Taylor Wimpey plc
756
1,549
Tesco plc
695
2,965
TP ICAP Group plc
422
1,200
 
80,472
United States — 9.7%
BP plc
1,309
7,736
GSK plc
109
2,114
Holcim AG
49
4,619
Roche Holding AG
53
17,274
Sanofi SA
19
1,974
Shell plc
465
16,954
Signify NV (b)
35
860
Stellantis NV
129
2,144
Stellantis NV
62
1,035
Swiss Re AG
30
3,732
TI Fluid Systems plc (b)
603
1,021
 
59,463
Total Common Stocks
(Cost $471,366)
592,802
Short-Term Investments — 3.8%
Investment Companies — 3.6%
JPMorgan Prime Money Market Fund Class Institutional Shares, 5.29% (c) (d)(Cost $22,261)
22,256
22,263
Investment of Cash Collateral from Securities Loaned — 0.2%
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.40% (c) (d)
1,000
1,000
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (c) (d)
139
139
Total Investment of Cash Collateral from Securities Loaned
(Cost $1,139)
1,139
Total Short-Term Investments
(Cost $23,400)
23,402
Total Investments — 100.7%
(Cost $494,766)
616,204
Liabilities in Excess of Other Assets — (0.7)%
(4,492
)
NET ASSETS — 100.0%
611,712
 
Percentages indicated are based on net assets.
 
Abbreviations
 
CVA
Certificaten Van Aandelen (Dutch Certificate)
OYJ
Public Limited Company
Preference
A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference
shares may also have liquidation preference.
REIT
Real Estate Investment Trust
SCA
Limited partnership with share capital
 
*
Non-income producing security.
(a)
The security or a portion of this security is on loan at July 31, 2024. The total value of securities on loan at July 31, 2024 is $1,120.
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
(b)
Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that
are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.
(c)
Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment
Management Inc.
(d)
The rate shown is the current yield as of July 31, 2024.
Summary of Investments by Industry, July 31, 2024
The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:  
INDUSTRY
PERCENT OF
TOTAL
INVESTMENTS
Banks
22.1
%
Insurance
9.9
Oil, Gas & Consumable Fuels
9.1
Pharmaceuticals
6.4
Metals & Mining
5.9
Automobiles
3.9
Trading Companies & Distributors
3.8
Construction & Engineering
3.1
Capital Markets
2.7
Machinery
2.2
Diversified Telecommunication Services
2.2
Electric Utilities
1.8
Automobile Components
1.7
Real Estate Management & Development
1.6
Household Durables
1.5
Construction Materials
1.5
Multi-Utilities
1.4
Financial Services
1.2
Energy Equipment & Services
1.1
Consumer Staples Distribution & Retail
1.1
Specialty Retail
1.0
Others (each less than 1.0%)
11.0
Short-Term Investments
3.8
Futures contracts outstanding as of July 31, 2024 (amounts in thousands, except number of contracts):
 
DESCRIPTION
NUMBER OF
CONTRACTS
EXPIRATION DATE
TRADING CURRENCY
NOTIONAL
AMOUNT ($)
VALUE AND
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
Long Contracts
TOPIX Index
25
09/12/2024
JPY
4,603
(269
)
EURO STOXX 50 Index
150
09/20/2024
EUR
7,958
(145
)
FTSE 100 Index
50
09/20/2024
GBP
5,372
95
 
(319
)
 
Abbreviations
 
EUR
Euro
FTSE
Financial Times and the London Stock Exchange
GBP
British Pound
JPY
Japanese Yen
TOPIX
Tokyo Stock Price Index
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
(Dollar values in thousands)
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.
Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values (“NAV”) of the Fund are calculated on a valuation date. Certain foreign equity instruments are valued by applying international fair value factors provided by approved Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAV is calculated.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Futures contracts are generally valued on the basis of available market quotations.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.
•
Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.
•
Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.
•
Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments: 
 
 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
Investments in Securities
Common Stocks
Australia
$—
$35,556
$—
$35,556
Austria
1,599
4,572
—
6,171
Belgium
—
5,118
—
5,118
China
—
4,134
—
4,134
Denmark
1,382
6,073
—
7,455
Finland
—
9,818
—
9,818
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
(Dollar values in thousands)
 
 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
France
$—
$55,645
$—
$55,645
Georgia
—
1,208
—
1,208
Germany
973
55,133
—
56,106
Hong Kong
—
2,799
—
2,799
Ireland
5,565
1,491
—
7,056
Israel
1,351
—
—
1,351
Italy
—
39,266
—
39,266
Japan
—
121,560
—
121,560
Netherlands
—
16,403
—
16,403
Norway
2,219
8,117
—
10,336
Peru
—
1,159
—
1,159
Singapore
—
10,309
—
10,309
South Africa
—
3,491
—
3,491
Spain
—
19,019
—
19,019
Sweden
—
14,524
—
14,524
Switzerland
—
24,383
—
24,383
United Kingdom
7,415
73,057
—
80,472
United States
—
59,463
—
59,463
Total Common Stocks
20,504
572,298
—
592,802
Short-Term Investments
Investment Companies
22,263
—
—
22,263
Investment of Cash Collateral from Securities Loaned
1,139
—
—
1,139
Total Short-Term Investments
23,402
—
—
23,402
Total Investments in Securities
$43,906
$572,298
$—
$616,204
Appreciation in Other Financial Instruments
Futures Contracts
$95
$—
$—
$95
Depreciation in Other Financial Instruments
Futures Contracts
(414
)
—
—
(414
)
Total Net Appreciation/ Depreciation in Other
Financial Instruments
$(319
)
$—
$—
$(319
)
B. Investment Transactions with Affiliates— The Fund invested in Underlying Funds 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. The Underlying Funds’ distributions may be reinvested into such Underlying Funds. Reinvestment amounts are included in the purchases at cost amounts in the table below. 
 
For the period ended July 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
July 31,
2024
Shares at
July 31,
2024
Dividend
Income
Capital Gain
Distributions
JPMorgan Prime Money Market Fund
Class Institutional Shares, 5.29%  (a) (b)
$20,785
$130,098
$128,623
$4
$(1
)
$22,263
22,256
$428
$—
JPMorgan Developed International Value Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
(Dollar values in thousands)
 
For the period ended July 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
July 31,
2024
Shares at
July 31,
2024
Dividend
Income
Capital Gain
Distributions
JPMorgan Securities Lending Money Market Fund
Agency SL Class Shares, 5.40%  (a) (b)
$500
$7,000
$6,500
$—
(c)
$—
(c)
$1,000
1,000
$35
$—
JPMorgan U.S. Government Money Market Fund
Class IM Shares, 5.25%  (a) (b)
526
18,292
18,679
—
—
139
139
26
—
Total
$21,811
$155,390
$153,802
$4
$(1
)
$23,402
$489
$—
 
 
(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 July 31, 2024.
(c)
Amount rounds to less than one thousand.