JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited)

Investments	Principal Amount ($000)		Value ($000)
CORPORATE BONDS — 28.8%
Aerospace & Defense — 0.9%
Airbus SE (France)
3.15%, 4/10/2027 (a)		4,909		5,223
3.95%, 4/10/2047 (a)		1,046		1,238
BAE Systems Holdings, Inc. (United Kingdom) 3.80%, 10/7/2024 (a)		5,000		5,329
BAE Systems plc (United Kingdom)
1.90%, 2/15/2031 (a)		14,745		14,048
5.80%, 10/11/2041 (a)		2,500		3,428
3.00%, 9/15/2050 (a)		5,645		5,526
Boeing Co. (The)
1.17%, 2/4/2023		11,110		11,114
1.95%, 2/1/2024		15,770		15,988
1.43%, 2/4/2024		36,715		36,718
4.88%, 5/1/2025		9,325		10,220
2.75%, 2/1/2026		15,605		16,031
2.20%, 2/4/2026		22,360		22,314
3.10%, 5/1/2026		9,560		9,946
5.04%, 5/1/2027		9,155		10,308
5.15%, 5/1/2030		14,590		16,924
3.60%, 5/1/2034		5,076		5,249
5.71%, 5/1/2040		12,565		16,048
5.81%, 5/1/2050		14,000		18,883
L3Harris Technologies, Inc.
1.80%, 1/15/2031		14,120		13,510
4.85%, 4/27/2035		1,918		2,346
Leidos, Inc. 2.30%, 2/15/2031		8,020		7,768
Lockheed Martin Corp.
4.50%, 5/15/2036		7,200		8,831
2.80%, 6/15/2050		5,055		5,130
Northrop Grumman Corp.
3.20%, 2/1/2027		5,364		5,739
3.25%, 1/15/2028		1,700		1,814
5.15%, 5/1/2040		13,000		16,962
Precision Castparts Corp. 3.25%, 6/15/2025		5,751		6,146
Raytheon Technologies Corp.
3.20%, 3/15/2024		2,992		3,121
4.50%, 6/1/2042		13,927		17,207
4.15%, 5/15/2045		7,861		9,402
3.75%, 11/1/2046		7,060		7,990
4.35%, 4/15/2047		4,020		4,951
2.82%, 9/1/2051		10,000		9,769
3.03%, 3/15/2052		3,840		3,880
				349,101
Airlines — 0.0%(b)
Continental Airlines Pass-Through Trust Series 2012-2, Class A Shares, 4.00%, 10/29/2024		16,887		17,627
Auto Components — 0.0%(b)
Lear Corp. 2.60%, 1/15/2032		3,330		3,277
Automobiles — 0.5%
BMW US Capital LLC (Germany) 2.25%, 9/15/2023 (a)		5,568		5,703
Daimler Finance North America LLC (Germany)
3.35%, 2/22/2023 (a)		5,000		5,157
3.30%, 5/19/2025 (a)		1,200		1,274
General Motors Co. 6.13%, 10/1/2025		8,695		10,030
Hyundai Capital America
1.15%, 11/10/2022 (a)		26,248		26,327
1.80%, 10/15/2025 (a)		8,870		8,857
1.30%, 1/8/2026 (a)		7,365		7,168
1.50%, 6/15/2026 (a)		17,530		17,066
2.38%, 10/15/2027 (a)		9,020		9,005
1.80%, 1/10/2028 (a)		12,950		12,521
Nissan Motor Co. Ltd. (Japan)
4.35%, 9/17/2027 (a)		39,109		42,138
4.81%, 9/17/2030 (a)		13,000		14,531
Stellantis Finance US, Inc. 2.69%, 9/15/2031 (a)		12,937		12,741
Volkswagen Group of America Finance LLC (Germany) 1.63%, 11/24/2027 (a)		12,310		11,964
				184,482
Banks — 5.4%
ABN AMRO Bank NV (Netherlands) 4.75%, 7/28/2025 (a)		12,879		14,074
(USD Swap Semi 5 Year + 2.20%), 4.40%, 3/27/2028 (c) (d)		12,600		13,061
AIB Group plc (Ireland) 4.75%, 10/12/2023 (a)		23,174		24,632
ANZ New Zealand Int’l Ltd. (New Zealand)
3.45%, 1/21/2028 (a)		2,000		2,188
2.55%, 2/13/2030 (a)		3,050		3,157
ASB Bank Ltd. (New Zealand) 3.75%, 6/14/2023 (a)		1,700		1,778
Australia & New Zealand Banking Group Ltd. (Australia) 4.40%, 5/19/2026 (a)		1,834		2,011
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.29%), 2.95%, 7/22/2030 (a) (c)		4,560		4,682
Banco Santander SA (Spain)
3.13%, 2/23/2023		5,000		5,133
1.85%, 3/25/2026		20,400		20,333
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (c)		8,600		8,439
4.38%, 4/12/2028		6,600		7,410
2.75%, 12/3/2030		10,800		10,564
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.22%, 11/22/2032 (c)		19,800		19,728

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Bank of America Corp.
(ICE LIBOR USD 3 Month + 0.78%), 3.55%, 3/5/2024 (c)		1,890		1,952
(ICE LIBOR USD 3 Month + 0.94%), 3.86%, 7/23/2024 (c)		530		554
4.00%, 1/22/2025		18,371		19,651
Series L, 3.95%, 4/21/2025		8,782		9,423
(ICE LIBOR USD 3 Month + 1.09%), 3.09%, 10/1/2025 (c)		1,840		1,921
(ICE LIBOR USD 3 Month + 0.81%), 3.37%, 1/23/2026 (c)		5,215		5,506
4.45%, 3/3/2026		5,041		5,547
4.25%, 10/22/2026		6,055		6,674
Series N, (SOFR + 0.91%), 1.66%, 3/11/2027 (c)		6,250		6,202
3.25%, 10/21/2027		9,616		10,193
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (c)		10,025		10,825
(ICE LIBOR USD 3 Month + 1.37%), 3.59%, 7/21/2028 (c)		29,628		31,852
(ICE LIBOR USD 3 Month + 1.04%), 3.42%, 12/20/2028 (c)		67,324		71,726
(ICE LIBOR USD 3 Month + 1.07%), 3.97%, 3/5/2029 (c)		26,230		28,829
(ICE LIBOR USD 3 Month + 0.99%), 2.50%, 2/13/2031 (c)		13,840		13,864
(SOFR + 1.32%), 2.69%, 4/22/2032 (c)		22,915		23,204
(SOFR + 1.21%), 2.57%, 10/20/2032 (c)		19,870		19,955
(SOFR + 1.93%), 2.68%, 6/19/2041 (c)		84,117		81,679
Bank of Ireland Group plc (Ireland)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (a) (c)		34,388		33,953
Bank of Montreal (Canada)
(USD Swap Semi 5 Year + 1.43%), 3.80%, 12/15/2032 (c)		5,021		5,400
Bank of New Zealand (New Zealand) 3.50%, 2/20/2024 (a)		6,160		6,492
Banque Federative du Credit Mutuel SA (France) 1.60%, 10/4/2026 (a)		23,810		23,606
Barclays plc (United Kingdom)
3.65%, 3/16/2025		15,214		16,123
5.20%, 5/12/2026		3,000		3,369
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 11/24/2032 (c)		10,428		10,470
BNP Paribas SA (France) 3.38%, 1/9/2025 (a)		6,025		6,352
(SOFR + 2.07%), 2.22%, 6/9/2026 (a) (c)		6,101		6,194
(SOFR + 1.00%), 1.32%, 1/13/2027 (a) (c)		4,819		4,695
(SOFR + 1.51%), 3.05%, 1/13/2031 (a) (c)		18,020		18,659
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 2.59%, 8/12/2035 (a) (c)		19,972		19,234
2.82%, 1/26/2041 (a)		6,028		5,711
BNZ International Funding Ltd. (New Zealand) 3.38%, 3/1/2023 (a)		4,500		4,652
Citigroup, Inc. 3.88%, 3/26/2025		3,077		3,294
(ICE LIBOR USD 3 Month + 0.90%), 3.35%, 4/24/2025 (c)		6,470		6,774
4.40%, 6/10/2025		13,411		14,565
(SOFR + 2.84%), 3.11%, 4/8/2026 (c)		28,260		29,625
4.30%, 11/20/2026		6,200		6,838
4.45%, 9/29/2027		1,491		1,658
(ICE LIBOR USD 3 Month + 1.56%), 3.89%, 1/10/2028 (c)		12,240		13,269
6.63%, 1/15/2028		3,363		4,228
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 7/24/2028 (c)		41,323		44,451
(ICE LIBOR USD 3 Month + 1.15%), 3.52%, 10/27/2028 (c)		11,100		11,900
(ICE LIBOR USD 3 Month + 1.19%), 4.07%, 4/23/2029 (c)		6,399		7,062
(ICE LIBOR USD 3 Month + 1.34%), 3.98%, 3/20/2030 (c)		20,900		23,143
(SOFR + 1.18%), 2.52%, 11/3/2032 (c)		17,190		17,181
(ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (c)		3,330		3,781
8.13%, 7/15/2039		1,424		2,435
5.30%, 5/6/2044		698		915
Citizens Financial Group, Inc. 2.85%, 7/27/2026		7,670		8,056
Comerica, Inc. 4.00%, 2/1/2029		8,910		10,073
Commonwealth Bank of Australia (Australia) 3.31%, 3/11/2041 (a)		4,795		4,928
Cooperatieve Rabobank UA (Netherlands)
4.38%, 8/4/2025		7,101		7,720
3.75%, 7/21/2026		8,564		9,249
Credit Agricole SA (France) 4.38%, 3/17/2025 (a)		4,405		4,750
(SOFR + 1.68%), 1.91%, 6/16/2026 (a) (c)		15,810		15,881
(SOFR + 0.89%), 1.25%, 1/26/2027 (a) (c)		8,688		8,449
2.81%, 1/11/2041 (a)		9,880		9,372
Danske Bank A/S (Denmark) 2.70%, 3/2/2022 (a)		4,254		4,277

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.03%), 1.17%, 12/8/2023 (a) (c)		35,450		35,465
Discover Bank
3.35%, 2/6/2023		2,185		2,244
4.25%, 3/13/2026		8,109		8,866
DNB Bank ASA (Norway)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.68%), 1.60%, 3/30/2028 (a) (c)		22,075		21,683
Fifth Third Bancorp 3.65%, 1/25/2024		8,495		8,935
HSBC Holdings plc (United Kingdom) 4.25%, 3/14/2024		6,038		6,404
(ICE LIBOR USD 3 Month + 0.99%), 3.95%, 5/18/2024 (c)		12,403		12,900
4.25%, 8/18/2025		4,932		5,317
(SOFR + 1.54%), 1.64%, 4/18/2026 (c)		2,400		2,389
4.38%, 11/23/2026		3,162		3,458
(ICE LIBOR USD 3 Month + 1.55%), 4.04%, 3/13/2028 (c)		17,888		19,316
(SOFR + 1.73%), 2.01%, 9/22/2028 (c)		25,865		25,271
(SOFR + 1.29%), 2.21%, 8/17/2029 (c)		13,465		13,181
(SOFR + 1.95%), 2.36%, 8/18/2031 (c)		20,470		20,015
7.63%, 5/17/2032		8,416		11,749
(SOFR + 1.41%), 2.87%, 11/22/2032 (c)		13,085		13,102
6.10%, 1/14/2042		3,835		5,489
ING Groep NV (Netherlands)
3.95%, 3/29/2027		2,572		2,814
(SOFR + 1.01%), 1.73%, 4/1/2027 (c)		8,840		8,804
KeyBank NA 3.18%, 5/22/2022		4,225		4,276
KeyCorp 4.15%, 10/29/2025		4,755		5,228
Lloyds Banking Group plc (United Kingdom)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.33%, 6/15/2023 (c)		8,500		8,522
(ICE LIBOR USD 3 Month + 0.81%), 2.91%, 11/7/2023 (c)		6,788		6,912
4.45%, 5/8/2025		6,285		6,870
4.58%, 12/10/2025		4,700		5,155
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.63%, 5/11/2027 (c)		12,150		11,956
4.38%, 3/22/2028		6,745		7,576
Mitsubishi UFJ Financial Group, Inc. (Japan)
3.00%, 2/22/2022		2,713		2,729
2.53%, 9/13/2023		3,463		3,567
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.64%, 10/13/2027 (c)		14,590		14,427
2.05%, 7/17/2030		23,420		22,840
3.75%, 7/18/2039		10,875		12,329
Mizuho Financial Group Cayman 3 Ltd. (Japan) 4.60%, 3/27/2024 (a)		5,440		5,805
Mizuho Financial Group, Inc. (Japan) 2.95%, 2/28/2022		1,449		1,458
(ICE LIBOR USD 3 Month + 0.83%), 2.23%, 5/25/2026 (c)		13,350		13,569
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.23%, 5/22/2027 (c)		16,739		16,251
3.17%, 9/11/2027		4,000		4,239
(SOFR + 1.57%), 2.87%, 9/13/2030 (c)		11,274		11,691
National Australia Bank Ltd. (Australia) 2.33%, 8/21/2030 (a)		10,430		10,015
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.88%), 3.93%, 8/2/2034 (a) (c)		16,395		17,571
NatWest Group plc (United Kingdom)
(ICE LIBOR USD 3 Month + 1.48%), 3.50%, 5/15/2023 (c)		7,306		7,393
3.88%, 9/12/2023		13,165		13,762
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.15%), 2.36%, 5/22/2024 (c)		11,990		12,217
(ICE LIBOR USD 3 Month + 1.55%), 4.52%, 6/25/2024 (c)		2,780		2,926
(ICE LIBOR USD 3 Month + 1.76%), 4.27%, 3/22/2025 (c)		5,845		6,214
4.80%, 4/5/2026		11,867		13,226
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.64%, 6/14/2027 (c)		6,508		6,411
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.55%), 3.07%, 5/22/2028 (c)		4,475		4,661
(ICE LIBOR USD 3 Month + 1.75%), 4.89%, 5/18/2029 (c)		2,270		2,609
(ICE LIBOR USD 3 Month + 1.87%), 4.44%, 5/8/2030 (c)		10,470		11,853
NatWest Markets plc (United Kingdom) 1.60%, 9/29/2026 (a)		31,620		31,127
Nordea Bank Abp (Finland)
4.25%, 9/21/2022 (a)		7,408		7,619
1.50%, 9/30/2026 (a)		25,000		24,600

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Royal Bank of Canada (Canada)
4.65%, 1/27/2026		5,585		6,199
Santander UK Group Holdings plc (United Kingdom)
3.57%, 1/10/2023		6,200		6,219
(SOFR + 0.79%), 1.09%, 3/15/2025 (c)		1,795		1,779
(SOFR + 0.99%), 1.67%, 6/14/2027 (c)		14,830		14,545
Societe Generale SA (France)
5.00%, 1/17/2024 (a)		7,200		7,684
4.25%, 4/14/2025 (a)		32,235		34,336
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.49%, 12/14/2026 (a) (c)		8,995		8,791
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%),
1.79%, 6/9/2027 (a) (c)		7,650		7,510
3.00%, 1/22/2030 (a)		18,435		19,011
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 6/9/2032 (a) (c)		31,110		31,079
SouthTrust Bank 7.69%, 5/15/2025		2,197		2,578
Standard Chartered plc (United Kingdom)
(ICE LIBOR USD 3 Month + 1.15%), 4.25%, 1/20/2023 (a) (c)		10,305		10,353
5.20%, 1/26/2024(a)		5,291		5,662
(ICE LIBOR USD 3 Month + 1.08%), 3.89%, 3/15/2024 (a) (c)		3,200		3,308
(ICE LIBOR USD 3 Month + 1.21%), 2.82%, 1/30/2026 (a) (c)		9,000		9,240
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%),
1.46%, 1/14/2027 (a) (c)		13,115		12,735
4.30%, 2/19/2027 (a)		17,200		18,389
(USD ICE Swap Rate 5 Year + 1.97%), 4.87%, 3/15/2033 (a) (c)		2,000		2,181
Sumitomo Mitsui Financial Group, Inc. (Japan)
3.10%, 1/17/2023		9,971		10,241
4.44%, 4/2/2024 (a)		1,246		1,329
1.47%, 7/8/2025		12,865		12,838
2.63%, 7/14/2026		6,102		6,334
3.01%, 10/19/2026		2,517		2,662
3.04%, 7/16/2029		25,422		26,638
Truist Financial Corp. 4.00%, 5/1/2025		4,143		4,488
UniCredit SpA (Italy) 3.75%, 4/12/2022 (a)		9,035		9,134
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 2.57%, 9/22/2026 (a) (c)		14,000		14,041
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (a) (c)		10,885		10,624
(USD ICE Swap Rate 5 Year + 3.70%), 5.86%, 6/19/2032 (a) (c)		15,000		16,357
(USD ICE Swap Rate 5 Year + 4.91%), 7.30%, 4/2/2034 (a) (c)		5,000		5,965
US Bancorp
3.38%, 2/5/2024		3,430		3,603
7.50%, 6/1/2026		1,256		1,567
Series X, 3.15%, 4/27/2027		1,924		2,058
Wells Fargo & Co.
4.10%, 6/3/2026		5,921		6,457
(ICE LIBOR USD 3 Month + 1.17%), 3.20%, 6/17/2027 (c)		61,670		65,211
4.30%, 7/22/2027		2,925		3,252
(SOFR + 2.53%), 3.07%, 4/30/2041 (c)		30,144		31,012
5.38%, 11/2/2043		2,755		3,643
4.65%, 11/4/2044		11,097		13,561
4.40%, 6/14/2046		4,816		5,762
Wells Fargo Bank NA 5.85%, 2/1/2037		1,720		2,293
Westpac Banking Corp. (Australia)
(USD ICE Swap Rate 5 Year + 2.24%), 4.32%, 11/23/2031 (c)		5,855		6,352
3.13%, 11/18/2041		11,364		11,235
				1,968,793
Beverages — 0.6%
Anheuser-Busch Cos. LLC (Belgium)
4.70%, 2/1/2036		33,310		40,055
4.90%, 2/1/2046		20,399		25,896
Anheuser-Busch InBev Finance, Inc. (Belgium) 4.63%, 2/1/2044		1,460		1,772
Anheuser-Busch InBev Worldwide, Inc. (Belgium)
4.38%, 4/15/2038		13,419		15,629
4.35%, 6/1/2040		16,250		19,088
4.44%, 10/6/2048		28,858		34,698
4.75%, 4/15/2058		9,838		12,478
5.80%, 1/23/2059		605		887
4.60%, 6/1/2060		7,010		8,712
Coca-Cola Femsa SAB de CV (Mexico)
2.75%, 1/22/2030		13,140		13,524
1.85%, 9/1/2032		11,205		10,608
Constellation Brands, Inc.
4.40%, 11/15/2025		4,444		4,896
5.25%, 11/15/2048		3,091		4,116

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Diageo Investment Corp. (United Kingdom) 8.00%, 9/15/2022		4,484		4,745
Keurig Dr Pepper, Inc.
4.42%, 5/25/2025		2,714		2,967
3.43%, 6/15/2027		2,015		2,174
3.20%, 5/1/2030		13,500		14,340
4.99%, 5/25/2038		3,920		4,901
4.42%, 12/15/2046		3,746		4,582
5.09%, 5/25/2048		4,164		5,492
Molson Coors Beverage Co. 4.20%, 7/15/2046		5,000		5,537
				237,097
Biotechnology — 0.6%
AbbVie, Inc.
3.45%, 3/15/2022		5,743		5,763
2.80%, 3/15/2023		3,954		4,026
3.85%, 6/15/2024		3,041		3,225
3.20%, 11/21/2029		27,601		29,283
4.55%, 3/15/2035		3,881		4,633
4.50%, 5/14/2035		15,614		18,492
4.05%, 11/21/2039		16,908		19,349
4.63%, 10/1/2042		9,850		11,961
4.40%, 11/6/2042		12,902		15,460
4.75%, 3/15/2045		7,000		8,854
4.45%, 5/14/2046		2,145		2,604
4.25%, 11/21/2049		10,194		12,261
Amgen, Inc.
2.20%, 2/21/2027		9,240		9,363
3.15%, 2/21/2040		5,870		5,972
Baxalta, Inc.
3.60%, 6/23/2022		999		1,010
5.25%, 6/23/2045		327		440
Biogen, Inc.
2.25%, 5/1/2030		20,560		20,113
3.15%, 5/1/2050		20,490		20,120
Gilead Sciences, Inc.
1.65%, 10/1/2030		9,165		8,728
2.60%, 10/1/2040		11,110		10,617
2.80%, 10/1/2050		10,760		10,453
				222,727
Building Products — 0.1%
Masco Corp.
2.00%, 10/1/2030		5,820		5,597
6.50%, 8/15/2032		10,095		13,404
4.50%, 5/15/2047		3,130		3,834
				22,835
Capital Markets — 2.2%
Bank of New York Mellon Corp. (The)
2.80%, 5/4/2026		1,043		1,093
3.30%, 8/23/2029		1,413		1,535
Blackstone Holdings Finance Co. LLC 4.45%, 7/15/2045 (a)		3,107		3,961
Blackstone Secured Lending Fund 3.65%, 7/14/2023		13,980		14,469
Brookfield Finance, Inc. (Canada)
3.90%, 1/25/2028		3,664		4,048
4.85%, 3/29/2029		5,160		6,025
4.70%, 9/20/2047		5,253		6,506
Charles Schwab Corp. (The)
3.20%, 3/2/2027		5,710		6,135
3.20%, 1/25/2028		1,270		1,375
Credit Suisse AG (Switzerland) 3.63%, 9/9/2024		4,326		4,601
Credit Suisse Group AG (Switzerland)
3.57%, 1/9/2023 (a)		10,753		10,783
3.80%, 6/9/2023		8,035		8,370
(SOFR + 1.56%), 2.59%, 9/11/2025 (a) (c)		6,850		7,004
(SOFR + 2.04%), 2.19%, 6/5/2026 (a) (c)		9,320		9,407
(SOFR + 0.98%), 1.31%, 2/2/2027 (a) (c)		25,020		24,218
4.28%, 1/9/2028(a)		12,016		13,103
(ICE LIBOR USD 3 Month + 1.41%), 3.87%, 1/12/2029 (a) (c)		2,991		3,204
(SOFR + 1.73%), 3.09%, 5/14/2032 (a) (c)		14,885		15,085
Daiwa Securities Group, Inc. (Japan) 3.13%, 4/19/2022 (a)		5,276		5,325
Deutsche Bank AG (Germany) 3.30%, 11/16/2022		6,440		6,594
(SOFR + 2.16%), 2.22%, 9/18/2024 (c)		26,205		26,578
(SOFR + 1.87%), 2.13%, 11/24/2026 (c)		13,585		13,619
(SOFR + 1.72%), 3.04%, 5/28/2032 (c)		15,977		16,052
FMR LLC 6.45%, 11/15/2039 (a)		2,242		3,314
Goldman Sachs Group, Inc. (The) 3.50%, 1/23/2025		5,018		5,307
(ICE LIBOR USD 3 Month + 1.20%), 3.27%, 9/29/2025 (c)		13,398		14,054
4.25%, 10/21/2025		10,573		11,497
3.50%, 11/16/2026		23,775		25,321
3.85%, 1/26/2027		18,677		20,018
(SOFR + 0.80%), 1.43%, 3/9/2027 (c)		32,000		31,373
(SOFR + 0.91%), 1.95%, 10/21/2027 (c)		13,705		13,673
(ICE LIBOR USD 3 Month + 1.51%), 3.69%, 6/5/2028 (c)		47,377		51,052
(ICE LIBOR USD 3 Month + 1.30%), 4.22%, 5/1/2029 (c)		16,415		18,201
(SOFR + 1.28%), 2.62%, 4/22/2032 (c)		11,700		11,723
(SOFR + 1.25%), 2.38%, 7/21/2032 (c)		12,855		12,613
6.75%, 10/1/2037		1,435		2,027
(ICE LIBOR USD 3 Month + 1.37%), 4.02%, 10/31/2038 (c)		4,600		5,252
(ICE LIBOR USD 3 Month + 1.43%), 4.41%, 4/23/2039 (c)		16,126		19,250
(SOFR + 1.51%), 3.21%, 4/22/2042 (c)		1,000		1,033
Intercontinental Exchange, Inc. 4.00%, 10/15/2023		5,021		5,303

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Jefferies Group LLC 6.45%, 6/8/2027		3,725		4,561
Macquarie Bank Ltd. (Australia)
4.00%, 7/29/2025 (a)		6,300		6,861
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.70%), 3.05%, 3/3/2036 (a) (c)		8,095		7,987
Macquarie Group Ltd. (Australia)
(SOFR + 1.07%), 1.34%, 1/12/2027 (a) (c)		6,735		6,588
(ICE LIBOR USD 3 Month + 1.75%), 5.03%, 1/15/2030 (a) (c)		22,700		26,468
Morgan Stanley
4.10%, 5/22/2023		9,880		10,327
3.70%, 10/23/2024		12,301		13,112
(SOFR + 1.15%), 2.72%, 7/22/2025 (c)		5,034		5,195
5.00%, 11/24/2025		9,322		10,421
(SOFR + 1.99%), 2.19%, 4/28/2026 (c)		18,815		19,197
3.13%, 7/27/2026		2,254		2,388
4.35%, 9/8/2026		1,640		1,815
3.63%, 1/20/2027		20,745		22,451
(ICE LIBOR USD 3 Month + 1.34%), 3.59%, 7/22/2028 (c)		13,333		14,343
(ICE LIBOR USD 3 Month + 1.14%), 3.77%, 1/24/2029 (c)		7,397		8,073
(ICE LIBOR USD 3 Month + 1.63%), 4.43%, 1/23/2030 (c)		17,528		19,986
(SOFR + 1.03%), 1.79%, 2/13/2032 (c)		11,200		10,609
(ICE LIBOR USD 3 Month + 1.43%), 4.46%, 4/22/2039 (c)		10,600		12,834
(SOFR + 1.49%), 3.22%, 4/22/2042 (c)		9,350		9,859
Nomura Holdings, Inc. (Japan)
2.65%, 1/16/2025		11,898		12,303
2.68%, 7/16/2030		12,180		12,270
Northern Trust Corp.
(ICE LIBOR USD 3 Month + 1.13%), 3.38%, 5/8/2032 (c)		2,762		2,921
UBS Group AG (Switzerland) 3.49%, 5/23/2023 (a)		7,735		7,836
(ICE LIBOR USD 3 Month + 0.95%), 2.86%, 8/15/2023 (a) (c)		2,156		2,187
4.13%, 9/24/2025 (a)		2,500		2,722
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.08%), 1.36%, 1/30/2027 (a) (c)		15,100		14,790
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.49%, 8/10/2027 (a) (c)		17,350		16,971
(ICE LIBOR USD 3 Month + 1.47%), 3.13%, 8/13/2030 (a) (c)		6,470		6,784
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (a) (c)		10,750		10,391
				762,351
Chemicals — 0.3%
Air Liquide Finance SA (France) 2.25%, 9/27/2023 (a)		4,179		4,275
Albemarle Corp. 5.45%, 12/1/2044		3,800		5,018
CF Industries, Inc.
5.15%, 3/15/2034		3,570		4,279
4.95%, 6/1/2043		16,825		20,241
Dow Chemical Co. (The) 4.55%, 11/30/2025		249		275
DuPont de Nemours, Inc. 5.32%, 11/15/2038		12,320		15,916
International Flavors & Fragrances, Inc.
1.83%, 10/15/2027 (a)		5,430		5,352
3.27%, 11/15/2040 (a)		7,650		7,857
5.00%, 9/26/2048		4,346		5,734
3.47%, 12/1/2050 (a)		13,375		14,069
LYB International Finance BV 4.88%, 3/15/2044		3,223		4,010
LYB International Finance III LLC
2.25%, 10/1/2030		4,336		4,339
4.20%, 10/15/2049		4,468		5,209
Nutrien Ltd. (Canada)
4.13%, 3/15/2035		6,522		7,399
5.25%, 1/15/2045		4,962		6,719
5.00%, 4/1/2049		4,150		5,598
Union Carbide Corp. 7.75%, 10/1/2096		2,719		4,917
				121,207
Commercial Services & Supplies — 0.0%(b)
Ford Foundation (The) Series 2020, 2.82%, 6/1/2070		4,000		4,188
Republic Services, Inc. 1.45%, 2/15/2031		14,940		13,923
				18,111
Construction & Engineering — 0.1%
Mexico City Airport Trust (Mexico) 5.50%, 7/31/2047 (a)		1,048		1,006
Quanta Services, Inc.
2.35%, 1/15/2032		17,240		16,955
3.05%, 10/1/2041		3,330		3,308
				21,269
Construction Materials — 0.1%
CRH America, Inc. (Ireland)
3.88%, 5/18/2025 (a)		2,811		3,023
5.13%, 5/18/2045 (a)		6,052		8,098
Martin Marietta Materials, Inc.
3.45%, 6/1/2027		5,785		6,219
3.20%, 7/15/2051		4,840		4,954
				22,294

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Consumer Finance — 1.3%
AerCap Ireland Capital DAC (Ireland)
3.95%, 2/1/2022		3,505		3,514
3.50%, 5/26/2022		3,050		3,085
4.50%, 9/15/2023		31,000		32,656
4.88%, 1/16/2024		4,135		4,418
3.50%, 1/15/2025		844		882
6.50%, 7/15/2025		3,441		3,936
4.45%, 10/1/2025		4,342		4,693
1.75%, 1/30/2026		8,311		8,147
4.45%, 4/3/2026		5,633		6,111
3.00%, 10/29/2028		12,605		12,693
American Express Co. 3.40%, 2/27/2023		4,100		4,233
American Honda Finance Corp.
2.90%, 2/16/2024		5,285		5,492
2.30%, 9/9/2026		1,185		1,225
Avolon Holdings Funding Ltd. (Ireland)
3.63%, 5/1/2022 (a)		1,245		1,257
5.25%, 5/15/2024 (a)		3,155		3,395
3.95%, 7/1/2024 (a)		16,176		16,954
2.88%, 2/15/2025 (a)		33,120		33,829
5.50%, 1/15/2026 (a)		33,000		36,628
2.13%, 2/21/2026 (a)		13,095		12,821
4.25%, 4/15/2026 (a)		12,901		13,773
4.38%, 5/1/2026 (a)		5,010		5,369
2.53%, 11/18/2027 (a)		110,463		107,722
Capital One Financial Corp.
3.20%, 2/5/2025		6,093		6,409
4.20%, 10/29/2025		3,000		3,263
3.75%, 7/28/2026		7,424		7,965
(SOFR + 1.27%), 2.62%, 11/2/2032 (c)		16,445		16,353
General Motors Financial Co., Inc.
1.20%, 10/15/2024		12,395		12,362
1.25%, 1/8/2026		8,423		8,214
4.35%, 1/17/2027		2,036		2,230
2.35%, 1/8/2031		20,744		20,047
2.70%, 6/10/2031		20,010		19,827
HSBC Finance Corp. 7.63%, 5/17/2032		9,000		11,576
Park Aerospace Holdings Ltd. (Ireland)
4.50%, 3/15/2023 (a)		12,100		12,551
5.50 %, 2/15/2024 (a)		23,761		25,588
				469,218
Containers & Packaging — 0.0%(b)
International Paper Co. 8.70%, 6/15/2038		2,650		4,352
WRKCo, Inc.
3.00%, 9/15/2024		920		963
3.75%, 3/15/2025		7,570		8,127
3.90%, 6/1/2028		2,870		3,169
				16,611
Diversified Consumer Services — 0.1%
Claremont Mckenna College Series 2019, 3.38%, 1/1/2050		10,000		11,220
Clark University 3.32%, 7/1/2052		7,000		7,198
Pepperdine University Series 2020, 3.30%, 12/1/2059		9,620		10,479
University of Southern California Series A, 3.23%, 10/1/2120		9,370		10,095
				38,992
Diversified Financial Services — 0.4%
CK Hutchison International 16 Ltd. (United Kingdom) 2.75%, 10/3/2026 (a)		6,500		6,816
CK Hutchison International 19 Ltd. (United Kingdom) 3.63%, 4/11/2029 (a)		9,685		10,655
GTP Acquisition Partners I LLC 3.48%, 6/16/2025 (a)		11,667		12,135
Hutchison Whampoa International 12 II Ltd. (United Kingdom) 3.25%, 11/8/2022 (a)		3,907		4,000
LSEGA Financing plc (United Kingdom) 2.00%, 4/6/2028 (a)		30,170		29,965
Mitsubishi HC Capital, Inc. (Japan)
2.65%, 9/19/2022 (a)		4,255		4,312
3.56%, 2/28/2024 (a)		8,350		8,755
ORIX Corp. (Japan)
2.90%, 7/18/2022		3,775		3,827
3.70%, 7/18/2027		4,000		4,371
Private Export Funding Corp.
Series EE, 2.80%, 5/15/2022		10,700		10,832
Series KK, 3.55%, 1/15/2024		12,505		13,278
Shell International Finance BV (Netherlands) 4.13%, 5/11/2035		9,000		10,535
Siemens Financieringsmaatschappij NV (Germany)
3.13%, 3/16/2024 (a)		3,440		3,602
2.35%, 10/15/2026 (a)		6,000		6,201
4.40%, 5/27/2045 (a)		3,421		4,433
3.30%, 9/15/2046 (a)		3,050		3,410
				137,127
Diversified Telecommunication Services — 0.8%
AT&T, Inc.
1.65%, 2/1/2028		3,535		3,439
2.25%, 2/1/2032		26,520		25,591
3.50%, 6/1/2041		35,836		36,818
3.10%, 2/1/2043		19,310		18,635
3.50%, 9/15/2053		16,997		17,169
3.55%, 9/15/2055		25,312		25,445
3.80%, 12/1/2057		4,454		4,651
Deutsche Telekom AG (Germany) 3.63%, 1/21/2050 (a)		4,657		5,024
Deutsche Telekom International Finance BV (Germany) 4.88%, 3/6/2042 (a)		2,087		2,627
Qwest Corp. 6.75%, 12/1/2021		7,308		7,308
Telefonica Emisiones SA (Spain) 4.67%, 3/6/2038		9,130		10,611

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Verizon Communications, Inc.
4.13%, 3/16/2027		6,080		6,756
2.10%, 3/22/2028		16,690		16,647
4.33%, 9/21/2028		11,983		13,648
1.68%, 10/30/2030		2,840		2,680
2.36%, 3/15/2032 (a)		3,691		3,653
4.50%, 8/10/2033		12,088		14,261
4.40%, 11/1/2034		27,768		32,554
4.27%, 1/15/2036		14,663		17,228
2.65%, 11/20/2040		27,316		26,080
3.40%, 3/22/2041		7,000		7,441
2.99%, 10/30/2056		3,311		3,185
3.70%, 3/22/2061		6,890		7,611
				309,062
Electric Utilities — 1.6%
AEP Transmission Co. LLC
3.80%, 6/15/2049		3,615		4,174
3.15%, 9/15/2049		2,680		2,787
Alabama Power Co.
6.13%, 5/15/2038		1,904		2,687
6.00%, 3/1/2039		769		1,083
4.10%, 1/15/2042		923		1,048
Appalachian Power Co.
Series P, 6.70%, 8/15/2037		3,740		5,267
Series Y, 4.50%, 3/1/2049		3,395		4,215
Arizona Public Service Co. 5.05%, 9/1/2041		3,036		3,872
Ausgrid Finance Pty. Ltd. (Australia) 4.35%, 8/1/2028 (a)		1,500		1,692
Baltimore Gas and Electric Co.
3.50%, 8/15/2046		3,755		4,143
3.20%, 9/15/2049		8,020		8,487
2.90%, 6/15/2050		7,770		7,861
CenterPoint Energy Houston Electric LLC 3.95%, 3/1/2048		1,066		1,285
China Southern Power Grid International Finance BVI Co. Ltd. (China) 3.50%, 5/8/2027 (a)		10,625		11,445
Cleveland Electric Illuminating Co. (The)
3.50%, 4/1/2028 (a)		3,890		4,105
5.95%, 12/15/2036		840		1,124
Commonwealth Edison Co. 3.65%, 6/15/2046		3,615		4,134
DTE Electric Co. 2.65%, 6/15/2022		1,687		1,698
Duke Energy Carolinas LLC 4.25%, 12/15/2041		1,228		1,463
Duke Energy Corp.
2.65%, 9/1/2026		1,382		1,432
3.40%, 6/15/2029		3,657		3,902
3.75%, 9/1/2046		16,415		17,709
Duke Energy Indiana LLC
3.75%, 5/15/2046		4,500		5,193
Series YYY, 3.25%, 10/1/2049		6,895		7,383
Duke Energy Ohio, Inc. 3.70%, 6/15/2046		3,297		3,749
Duke Energy Progress LLC
4.10%, 5/15/2042		1,886		2,196
4.10%, 3/15/2043		1,569		1,855
4.15%, 12/1/2044		2,258		2,711
3.70%, 10/15/2046		1,616		1,857
2.90%, 8/15/2051		9,495		9,581
Duke Energy Progress NC Storm Funding LLC Series A-2, 2.39%, 7/1/2037		5,000		5,068
Duquesne Light Holdings, Inc.
3.62%, 8/1/2027 (a)		8,002		8,521
2.78%, 1/7/2032 (a)		6,275		6,272
Edison International
5.75%, 6/15/2027		2,000		2,278
4.13%, 3/15/2028		6,730		7,178
Emera US Finance LP (Canada) 4.75%, 6/15/2046		9,540		11,323
Enel Finance International NV (Italy)
3.50%, 4/6/2028 (a)		4,500		4,861
6.00%, 10/7/2039 (a)		897		1,228
Entergy Arkansas LLC
3.50%, 4/1/2026		2,631		2,836
2.65%, 6/15/2051		8,425		8,050
Entergy Corp. 2.95%, 9/1/2026		2,469		2,584
Entergy Louisiana LLC
2.40%, 10/1/2026		4,979		5,120
3.25%, 4/1/2028		1,551		1,668
3.05%, 6/1/2031		4,606		4,885
4.00%, 3/15/2033		3,430		3,927
Evergy Metro, Inc.
3.15%, 3/15/2023		3,255		3,336
5.30%, 10/1/2041		8,968		11,859
Evergy, Inc. 2.90%, 9/15/2029		14,800		15,404
Exelon Corp.
3.50%, 6/1/2022		5,000		5,052
3.40%, 4/15/2026		1,177		1,254
FirstEnergy Transmission LLC 4.55%, 4/1/2049 (a)		830		971
Fortis, Inc. (Canada) 3.06%, 10/4/2026		12,384		12,960
Hydro-Quebec (Canada)
Series HY, 8.40%, 1/15/2022		7,174		7,242
Series IO, 8.05%, 7/7/2024		2,642		3,112
Indiana Michigan Power Co. Series J, 3.20%, 3/15/2023		8,609		8,820
ITC Holdings Corp.
2.70%, 11/15/2022		900		916
2.95%, 5/14/2030 (a)		6,820		7,033
Jersey Central Power & Light Co.
4.30%, 1/15/2026 (a)		6,154		6,705
6.15 %, 6/1/2037		1,740		2,361
John Sevier Combined Cycle Generation LLC 4.63%, 1/15/2042		3,607		4,391
Louisville Gas & Electric Co.Series 25, 3.30%, 10/1/2025		2,759		2,934

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Massachusetts Electric Co. 4.00%, 8/15/2046 (a)		4,957		5,492
Mid-Atlantic Interstate Transmission LLC 4.10%, 5/15/2028 (a)		12,530		13,884
Nevada Power Co.
Series N, 6.65%, 4/1/2036		700		1,009
5.38%, 9/15/2040		1,287		1,674
5.45%, 5/15/2041		3,354		4,516
New England Power Co. (United Kingdom) 3.80%, 12/5/2047 (a)		3,024		3,411
NextEra Energy Capital Holdings, Inc. 3.55%, 5/1/2027		2,239		2,417
Niagara Mohawk Power Corp. 3.51%, 10/1/2024 (a)		3,051		3,205
NRG Energy, Inc.
2.00%, 12/2/2025 (a)		11,855		11,963
2.45%, 12/2/2027 (a)		13,055		12,950
Ohio Edison Co. 6.88%, 7/15/2036		780		1,124
Oklahoma Gas and Electric Co. 0.55%, 5/26/2023		2,085		2,073
Oncor Electric Delivery Co. LLC 5.75%, 3/15/2029		1,076		1,319
Pacific Gas and Electric Co.
1.75%, 6/16/2022		35,970		35,948
1.37%, 3/10/2023		18,800		18,695
1.70%, 11/15/2023		4,825		4,820
3.45%, 7/1/2025		8,635		8,955
2.95%, 3/1/2026		5,955		6,045
4.45%, 4/15/2042		3,200		3,261
3.75%, 8/15/2042 (e)		2,882		2,682
4.30%, 3/15/2045		4,900		5,032
4.00%, 12/1/2046		5,000		4,948
3.95%, 12/1/2047		5,000		4,946
PacifiCorp
3.60%, 4/1/2024		2,765		2,912
4.15%, 2/15/2050		2,300		2,756
PECO Energy Co. 2.80%, 6/15/2050		6,430		6,421
Pennsylvania Electric Co. 3.25%, 3/15/2028 (a)		1,570		1,627
Pepco Holdings LLC 7.45%, 8/15/2032		3,507		4,825
Potomac Electric Power Co. 6.50%, 11/15/2037		1,184		1,748
PPL Electric Utilities Corp.
2.50%, 9/1/2022		1,543		1,558
3.00%, 10/1/2049		10,000		10,484
Progress Energy, Inc.
3.15%, 4/1/2022		3,380		3,387
7.00%, 10/30/2031		2,600		3,536
Public Service Co. of Colorado 3.55%, 6/15/2046		1,175		1,276
Public Service Co. of Oklahoma
Series G, 6.63%, 11/15/2037		3,901		5,593
Series K, 3.15%, 8/15/2051		12,330		12,574
Public Service Electric and Gas Co.
3.00%, 5/15/2025		6,334		6,652
5.38%, 11/1/2039		1,021		1,358
SCE Recovery Funding LLC
Series A-2, 1.94%, 5/15/2038		9,380		9,009
Series A-3, 2.51%, 11/15/2043		7,950		7,754
Southern California Edison Co. 1.85%, 2/1/2022		175		175
Series C, 3.50%, 10/1/2023		2,854		2,975
Series B, 3.65%, 3/1/2028		4,300		4,639
6.00%, 1/15/2034		895		1,165
6.05%, 3/15/2039		2,197		2,918
3.90%, 12/1/2041		3,408		3,581
Series C, 4.13%, 3/1/2048		1,800		2,048
Series 20A, 2.95%, 2/1/2051		3,000		2,867
Southern Co. (The) 3.25%, 7/1/2026		3,108		3,292
Southwestern Public Service Co. 4.50%, 8/15/2041		2,700		3,307
State Grid Overseas Investment BVI Ltd. (China) 3.75%, 5/2/2023 (a)		2,000		2,076
Toledo Edison Co. (The) 6.15%, 5/15/2037		5,800		8,093
Union Electric Co.
2.95%, 6/15/2027		2,862		3,026
4.00%, 4/1/2048		1,600		1,923
Virginia Electric and Power Co.
3.45%, 2/15/2024		1,280		1,334
Series A, 6.00%, 5/15/2037		2,100		2,923
Xcel Energy, Inc. 4.80%, 9/15/2041		829		1,016
				591,484
Electrical Equipment — 0.0% (b)
Eaton Corp.
7.63%, 4/1/2024		1,794		2,035
4.00%, 11/2/2032		1,247		1,439
				3,474
Electronic Equipment, Instruments & Components — 0.0%(b)
Arrow Electronics, Inc.
4.50%, 3/1/2023		1,595		1,649
3.25%, 9/8/2024		3,162		3,305
3.88%, 1/12/2028		3,541		3,835
Corning, Inc. 5.35%, 11/15/2048		6,270		8,738
				17,527
Energy Equipment & Services — 0.1%
Baker Hughes Holdings LLC
4.49%, 5/1/2030		10,000		11,502
5.13%, 9/15/2040		3,910		4,902
Halliburton Co.
3.80%, 11/15/2025		177		192
4.85%, 11/15/2035		3,583		4,251
4.75%, 8/1/2043		2,375		2,782
7.60%, 8/15/2096 (a)		2,242		3,172
Schlumberger Holdings Corp.
3.75%, 5/1/2024 (a)		3,461		3,642
4.00%, 12/21/2025 (a)		48		52
3.90%, 5/17/2028 (a)		7,052		7,702
				38,197

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Entertainment — 0.0% (b)
TWDC Enterprises 18 Corp. 3.00%, 7/30/2046		1,190		1,237
Walt Disney Co. (The)
8.88%, 4/26/2023		942		1,047
9.50%, 7/15/2024		1,525		1,850
7.30%, 4/30/2028		3,946		5,161
7.63%, 11/30/2028		2,690		3,640
				12,935
Equity Real Estate Investment Trusts (REITs) — 1.5%
Alexandria Real Estate Equities, Inc.
3.80%, 4/15/2026		2,199		2,394
1.88%, 2/1/2033		12,120		11,409
4.00%, 2/1/2050		9,430		11,131
American Campus Communities Operating Partnership LP
2.25%, 1/15/2029		6,870		6,809
2.85%, 2/1/2030		15,779		16,240
American Tower Corp.
5.00%, 2/15/2024		4,305		4,650
3.38%, 10/15/2026		4,378		4,645
1.50%, 1/31/2028		10,510		10,008
2.10%, 6/15/2030		8,940		8,583
1.88%, 10/15/2030		19,410		18,298
Boston Properties LP
3.13%, 9/1/2023		3,155		3,260
3.20%, 1/15/2025		4,331		4,546
3.65%, 2/1/2026		3,157		3,395
Brixmor Operating Partnership LP
3.65%, 6/15/2024		2,740		2,889
3.85%, 2/1/2025		6,613		7,040
2.50%, 8/16/2031		6,530		6,358
Corporate Office Properties LP 2.00%, 1/15/2029		3,440		3,330
Crown Castle International Corp. 4.00%, 3/1/2027		2,066		2,254
Digital Realty Trust LP 3.70%, 8/15/2027		2,507		2,732
Duke Realty LP 3.25%, 6/30/2026		1,814		1,939
Equinix, Inc.
2.90%, 11/18/2026		20,442		21,210
Essex Portfolio LP
1.65%, 1/15/2031		8,950		8,391
GAIF Bond Issuer Pty. Ltd. (Australia) 3.40%, 9/30/2026 (a)		7,843		8,428
Goodman US Finance Three LLC (Australia) 3.70%, 3/15/2028 (a)		5,157		5,582
Healthcare Trust of America Holdings LP
3.10%, 2/15/2030		9,814		10,187
2.00%, 3/15/2031		8,000		7,548
Healthpeak Properties, Inc. 3.40%, 2/1/2025		162		171
Life Storage LP 2.40%, 10/15/2031		15,650		15,358
LifeStorage LP 3.50%, 7/1/2026		8,937		9,612
Mid-America Apartments LP
4.00%, 11/15/2025		8,830		9,627
1.70%, 2/15/2031		5,500		5,210
National Retail Properties, Inc.
4.00%, 11/15/2025		5,043		5,501
3.60%, 12/15/2026		5,527		5,937
Office Properties Income Trust
4.00%, 7/15/2022		7,083		7,200
4.25%, 5/15/2024		11,000		11,521
2.40%, 2/1/2027		15,955		15,521
3.45%, 10/15/2031		9,000		8,765
Physicians Realty LP
4.30%, 3/15/2027		4,500		5,021
3.95%, 1/15/2028		2,100		2,317
2.63%, 11/1/2031		6,195		6,188
Prologis LP 2.25%, 4/15/2030		3,830		3,871
Public Storage
1.50%, 11/9/2026		4,237		4,222
1.95%, 11/9/2028		11,113		11,049
2.25%, 11/9/2031		9,333		9,291
Realty Income Corp.
3.88%, 4/15/2025		6,245		6,769
4.88%, 6/1/2026		4,230		4,779
3.00%, 1/15/2027		2,243		2,376
3.25%, 1/15/2031		4,000		4,298
1.80%, 3/15/2033		2,865		2,710
Regency Centers LP
4.13%, 3/15/2028		1,755		1,956
2.95%, 9/15/2029		10,600		11,014
Sabra Health Care LP 3.20%, 12/1/2031		9,610		9,429
Safehold Operating Partnership LP
2.80%, 6/15/2031		12,000		11,929
2.85%, 1/15/2032		2,972		2,908
Scentre Group Trust 1 (Australia)
3.50%, 2/12/2025 (a)		9,910		10,497
3.25%, 10/28/2025 (a)		5,595		5,915
Scentre Group Trust 2 (Australia)
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.38%), 4.75%, 9/24/2080 (a) (c)		17,060		17,826
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.69%), 5.12%, 9/24/2080 (a) (c)		10,425		11,116
Simon Property Group LP 3.25%, 9/13/2049		12,865		13,346
SITE Centers Corp. 4.70%, 6/1/2027		4,651		5,184
UDR, Inc.
2.95%, 9/1/2026		3,831		4,011
3.50%, 1/15/2028		1,354		1,466
3.00%, 8/15/2031		4,750		4,950
2.10%, 8/1/2032		5,520		5,268
3.10%, 11/1/2034		6,440		6,724
Ventas Realty LP 3.75%, 5/1/2024		4,032		4,242

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
3.50%, 2/1/2025		1,929		2,043
4.13%, 1/15/2026		770		843
3.25%, 10/15/2026		7,254		7,740
3.85%, 4/1/2027		4,308		4,698
Vornado Realty LP 3.50%, 1/15/2025		4,810		5,044
Welltower, Inc.
2.70%, 2/15/2027		5,199		5,406
3.10%, 1/15/2030		2,920		3,068
6.50%, 3/15/2041		5,460		8,001
4.95%, 9/1/2048		5,000		6,580
WP Carey, Inc.
4.00%, 2/1/2025		5,300		5,677
4.25%, 10/1/2026		4,970		5,481
2.45%, 2/1/2032		10,980		10,869
2.25%, 4/1/2033		12,000		11,475
				555,276
Food & Staples Retailing — 0.3%
7-Eleven, Inc.
1.30%, 2/10/2028 (a)		9,074		8,635
2.50%, 2/10/2041 (a)		9,243		8,573
Alimentation Couche-Tard, Inc. (Canada)
2.95%, 1/25/2030 (a)		7,435		7,747
3.44%, 5/13/2041 (a)		10,460		10,844
3.63%, 5/13/2051 (a)		10,500		11,246
CVS Pass-Through Trust
7.51%, 1/10/2032 (a)		4,734		5,916
5.93%, 1/10/2034 (a)		4,564		5,512
Series 2013, 4.70%, 1/10/2036 (a)		8,953		10,205
Series 2014, 4.16%, 8/11/2036 (a)		1,174		1,293
Kroger Co. (The)
5.40%, 7/15/2040		829		1,087
5.00%, 4/15/2042		9,000		11,430
3.88%, 10/15/2046		11,000		12,321
				94,809
Food Products — 0.2%
Bunge Ltd. Finance Corp.
1.63%, 8/17/2025		7,880		7,883
2.75%, 5/14/2031		22,130		22,345
Campbell Soup Co. 3.13%, 4/24/2050		4,828		4,841
Cargill, Inc. 3.25%, 3/1/2023 (a)		1,990		2,055
Conagra Brands, Inc.
5.30%, 11/1/2038		3,420		4,342
5.40%, 11/1/2048		4,035		5,534
Mead Johnson Nutrition Co. (United Kingdom)
4.13%, 11/15/2025		993		1,089
4.60%, 6/1/2044		955		1,252
Tyson Foods, Inc.
4.88%, 8/15/2034		5,000		6,118
5.15%, 8/15/2044		3,000		3,936
4.55%, 6/2/2047		6,550		8,137
Unilever Capital Corp. (United Kingdom) 3.38%, 3/22/2025		4,100		4,385
				71,917
Gas Utilities — 0.2%
Atmos Energy Corp.
0.63%, 3/9/2023		4,545		4,536
4.15%, 1/15/2043		7,215		8,380
4.13%, 10/15/2044		1,750		2,061
4.13%, 3/15/2049		6,000		7,369
Boston Gas Co. 4.49%, 2/15/2042 (a)		2,201		2,531
Brooklyn Union Gas Co. (The)
3.87%, 3/4/2029 (a)		5,620		6,116
4.27%, 3/15/2048 (a)		6,500		7,482
KeySpan Gas East Corp. 2.74%, 8/15/2026 (a)		4,242		4,348
Piedmont Natural Gas Co., Inc. 3.50%, 6/1/2029		1,700		1,839
Southern California Gas Co. Series XX, 2.55%, 2/1/2030		7,148		7,367
Southern Natural Gas Co. LLC
8.00%, 3/1/2032		2,103		2,952
4.80%, 3/15/2047 (a)		2,649		3,240
Southwest Gas Corp. 3.80%, 9/29/2046		3,595		3,935
				62,156
Health Care Equipment & Supplies — 0.2%
Becton Dickinson and Co.
3.73%, 12/15/2024		195		208
4.67%, 6/6/2047		6,000		7,600
3.79%, 5/20/2050		4,695		5,345
Boston Scientific Corp.
4.00%, 3/1/2029		8,505		9,512
4.55%, 3/1/2039		10,225		12,296
DH Europe Finance II SARL 3.25%, 11/15/2039		7,065		7,576
Zimmer Biomet Holdings, Inc.
3.70%, 3/19/2023		2,694		2,786
2.60%, 11/24/2031		20,177		20,247
				65,570
Health Care Providers & Services — 1.2%
Advocate Health & Hospitals Corp. Series 2020, 2.21%, 6/15/2030		9,700		9,828
Aetna, Inc.
6.75%, 12/15/2037		2,959		4,319
4.50%, 5/15/2042		1,777		2,126
Anthem, Inc.
3.13%, 5/15/2022		4,004		4,052
3.30%, 1/15/2023		2,354		2,421
4.10%, 3/1/2028		5,485		6,114
4.63%, 5/15/2042		3,477		4,333
4.65%, 1/15/2043		3,394		4,240
4.65%, 8/15/2044		4,149		5,204
Banner Health 1.90%, 1/1/2031		13,950		13,642
BayCare Health System, Inc. Series 2020, 3.83%, 11/15/2050		9,475		11,695
Beth Israel Lahey Health, Inc. Series L, 3.08%, 7/1/2051		4,180		4,333

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Children’s Hospital Series 2020, 2.93%, 7/15/2050		11,530		11,742
Cigna Corp. 4.80%, 7/15/2046		1,904		2,408
CommonSpirit Health
1.55%, 10/1/2025		6,210		6,177
2.78%, 10/1/2030		6,205		6,376
4.19%, 10/1/2049		5,540		6,569
3.91%, 10/1/2050		6,600		7,597
Cottage Health Obligated Group Series 2020, 3.30%, 11/1/2049		10,450		11,528
CVS Health Corp.
4.30%, 3/25/2028		2,122		2,389
4.88%, 7/20/2035		3,500		4,294
5.05%, 3/25/2048		23,852		31,517
Hackensack Meridian Health, Inc. Series 2020, 2.88%, 9/1/2050		11,100		11,429
Hartford HealthCare Corp. 3.45%, 7/1/2054		23,430		25,005
HCA, Inc.
5.25%, 6/15/2026		27,070		30,459
5.13%, 6/15/2039		4,805		5,927
5.50%, 6/15/2047		9,870		13,001
3.50%, 7/15/2051		14,460		14,775
Mayo Clinic Series 2016, 4.13%, 11/15/2052		2,975		3,855
MedStar Health, Inc. Series 20A, 3.63%, 8/15/2049		7,365		8,184
Memorial Health Services 3.45%, 11/1/2049		25,595		29,117
Memorial Sloan-Kettering Cancer Center Series 2015, 4.20%, 7/1/2055		3,335		4,351
MidMichigan Health Series 2020, 3.41%, 6/1/2050		5,410		6,023
Mount Sinai Hospitals Group, Inc. Series 2017, 3.98%, 7/1/2048		2,747		3,147
MultiCare Health System 2.80%, 8/15/2050		7,935		7,998
NYU Langone Hospitals Series 2020, 3.38%, 7/1/2055		9,170		9,969
Providence St Joseph Health Obligated Group Series H, 2.75%, 10/1/2026		2,942		3,081
Quest Diagnostics, Inc.
3.45%, 6/1/2026		1,684		1,808
2.80%, 6/30/2031		7,025		7,243
Texas Health Resources
2.33%, 11/15/2050		6,717		6,191
4.33%, 11/15/2055		4,275		5,763
Trinity Health Corp. Series 2019, 3.43%, 12/1/2048		20,450		23,115
UnitedHealth Group, Inc.
4.63%, 7/15/2035		6,229		7,722
3.50%, 8/15/2039		8,210		9,035
2.75%, 5/15/2040		4,800		4,835
3.25%, 5/15/2051		9,695		10,543
Universal Health Services, Inc.
2.65%, 10/15/2030 (a)		12,470		12,096
2.65%, 1/15/2032 (a)		5,055		5,002
				432,578
Hotels, Restaurants & Leisure — 0.1%
Booking Holdings, Inc. 2.75%, 3/15/2023		1,923		1,971
McDonald’s Corp.
4.70%, 12/9/2035		6,540		8,082
4.45%, 3/1/2047		3,210		3,975
Starbucks Corp. 2.55%, 11/15/2030		12,380		12,629
				26,657
Household Durables — 0.1%
Lennar Corp. 4.50%, 4/30/2024		6,800		7,251
MDC Holdings, Inc.
3.85%, 1/15/2030		10,000		10,524
2.50%, 1/15/2031		5,105		4,917
3.97%, 8/6/2061		7,995		7,762
				30,454
Household Products — 0.0% (b)
Reckitt Benckiser Treasury Services plc (United Kingdom) 2.38%, 6/24/2022 (a)		9,000		9,082
Independent Power and Renewable Electricity Producers — 0.2%
Alexander Funding Trust 1.84%, 11/15/2023 (a)		19,220		19,410
Exelon Generation Co. LLC
3.40%, 3/15/2022		7,048		7,078
3.25%, 6/1/2025		11,035		11,597
6.25%, 10/1/2039		11,985		15,360
5.75%, 10/1/2041		1,665		2,038
Southern Power Co. 5.15%, 9/15/2041		7,079		8,781
Tri-State Generation and Transmission Association, Inc. 4.25%, 6/1/2046		3,222		3,714
				67,978
Industrial Conglomerates — 0.3%
GE Capital Funding LLC 4.40%, 5/15/2030		7,480		8,887
GE Capital International Funding Co. Unlimited Co. 4.42%, 11/15/2035		52,907		63,945
General Electric Co.
3.63%, 5/1/2030		13,445		15,144
4.13%, 10/9/2042		3,080		3,804
Roper Technologies, Inc.
1.40%, 9/15/2027		14,890		14,454
2.00%, 6/30/2030		9,380		9,066
				115,300
Insurance — 1.0%
AIA Group Ltd. (Hong Kong)
3.90%, 4/6/2028 (a)		7,190		7,984
3.60%, 4/9/2029 (a)		5,835		6,400
3.20%, 9/16/2040 (a)		7,535		7,737
AIG SunAmerica Global Financing X 6.90%, 3/15/2032 (a)		8,295		11,599

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
American Financial Group, Inc. 3.50%, 8/15/2026		8,175		8,790
American International Group, Inc.
3.88%, 1/15/2035		3,407		3,806
4.70%, 7/10/2035		7,065		8,520
4.38%, 1/15/2055		6,799		8,580
Assurant, Inc. 4.20%, 9/27/2023		8,065		8,508
Athene Global Funding
0.95%, 1/8/2024 (a)		12,303		12,263
2.75%, 6/25/2024 (a)		19,000		19,692
2.50%, 1/14/2025 (a)		3,477		3,580
1.45%, 1/8/2026 (a)		13,850		13,672
2.95%, 11/12/2026 (a)		37,440		39,181
Berkshire Hathaway Finance Corp.
4.40%, 5/15/2042		13,241		16,373
4.30%, 5/15/2043		2,795		3,417
4.25%, 1/15/2049		8,780		10,910
CNA Financial Corp. 3.95%, 5/15/2024		2,633		2,796
CNO Global Funding 1.75%, 10/7/2026 (a)		11,240		11,140
Dai-ichi Life Insurance Co. Ltd. (The) (Japan) (ICE LIBOR USD 3 Month + 3.66%), 4.00%, 7/24/2026 (a) (c) (f) (g)		9,929		10,525
F&G Global Funding 1.75%, 6/30/2026 (a)		12,780		12,739
Guardian Life Insurance Co. of America (The)
3.70%, 1/22/2070 (a)		6,450		7,036
4.85%, 1/24/2077 (a)		1,663		2,219
Hartford Financial Services Group, Inc. (The) 4.30%, 4/15/2043		7,410		8,907
Intact US Holdings, Inc. 4.60%, 11/9/2022		8,660		8,944
Jackson National Life Global Funding 3.05%, 4/29/2026 (a)		4,774		5,041
John Hancock Life Insurance Co. 7.38%, 2/15/2024 (a)		1,000		1,134
Liberty Mutual Group, Inc.
4.57%, 2/1/2029 (a)		3,049		3,541
3.95%, 10/15/2050 (a)		6,000		6,847
Liberty Mutual Insurance Co. 8.50%, 5/15/2025 (a)		1,350		1,642
Lincoln National Corp. 4.00%, 9/1/2023		2,753		2,898
Manulife Financial Corp. (Canada) (USD ICE Swap Rate 5 Year + 1.65%), 4.06%, 2/24/2032 (c)		11,200		12,134
MetLife, Inc. 4.13%, 8/13/2042		2,027		2,402
New York Life Global Funding 3.00%, 1/10/2028 (a)		4,854		5,219
New York Life Insurance Co.
3.75%, 5/15/2050 (a)		9,600		11,054
4.45%, 5/15/2069 (a)		11,250		14,740
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (a)		12,520		12,442
Pacific Life Insurance Co. (ICE LIBOR USD 3 Month + 2.80%), 4.30%, 10/24/2067 (a) (c)		3,766		4,472
Principal Financial Group, Inc. 3.13%, 5/15/2023		794		822
Prudential Financial, Inc. 3.91%, 12/7/2047		9,236		10,908
Prudential Insurance Co. of America (The) 8.30%, 7/1/2025 (a)		10,349		12,672
Reliance Standard Life Global Funding II 3.85%, 9/19/2023 (a)		2,595		2,727
Swiss Re Finance Luxembourg SA (Switzerland) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.58%), 5.00%, 4/2/2049 (a) (c)		7,600		8,474
Teachers Insurance & Annuity Association of America
4.90%, 9/15/2044 (a)		3,653		4,807
4.27%, 5/15/2047 (a)		5,480		6,759
				386,053
Internet & Direct Marketing Retail — 0.1%
Amazon.com, Inc.
3.88%, 8/22/2037		9,440		11,101
3.25%, 5/12/2061		7,000		7,728
				18,829
IT Services — 0.1%
CGI, Inc. (Canada)
1.45%, 9/14/2026 (a)		14,101		13,783
2.30%, 9/14/2031 (a)		10,000		9,673
Fiserv, Inc.
3.20%, 7/1/2026		6,035		6,369
4.40%, 7/1/2049		5,835		6,946
Global Payments, Inc. 2.90%, 11/15/2031		9,690		9,806
				46,577
Life Sciences Tools & Services — 0.0% (b)
Thermo Fisher Scientific, Inc.
2.95%, 9/19/2026		3,564		3,764
2.80%, 10/15/2041		6,745		6,808
				10,572
Machinery — 0.1%
nVent Finance SARL (United Kingdom) 4.55%, 4/15/2028		6,750		7,541
Parker-Hannifin Corp.
4.45%, 11/21/2044		3,759		4,624
4.10%, 3/1/2047		2,527		2,968
Xylem, Inc.
3.25%, 11/1/2026		1,420		1,522
2.25%, 1/30/2031		7,315		7,351
				24,006

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Media — 0.9%
Charter Communications Operating LLC
3.75%, 2/15/2028		5,166		5,560
2.25%, 1/15/2029		14,904		14,445
6.38%, 10/23/2035		4,374		5,669
5.38%, 4/1/2038		4,923		5,917
3.50%, 6/1/2041		12,020		11,771
3.50%, 3/1/2042		7,800		7,547
4.80%, 3/1/2050		13,160		14,823
3.70%, 4/1/2051		19,270		18,681
3.90%, 6/1/2052		9,380		9,477
Comcast Cable Holdings LLC 10.13%, 4/15/2022		1,614		1,672
Comcast Corp.
3.60%, 3/1/2024		4,708		4,990
3.38%, 8/15/2025		2,773		2,954
3.95%, 10/15/2025		3,000		3,271
3.55%, 5/1/2028		6,115		6,719
4.25%, 1/15/2033		16,564		19,353
4.20%, 8/15/2034		3,361		3,944
3.25%, 11/1/2039		19,265		20,431
3.75%, 4/1/2040		8,535		9,616
4.00%, 11/1/2049		5,553		6,447
2.89%, 11/1/2051 (a)		14,886		14,554
4.05%, 11/1/2052		1,350		1,605
2.94%, 11/1/2056 (a)		6,172		5,998
2.65%, 8/15/2062		8,705		7,858
2.99%, 11/1/2063 (a)		1,559		1,506
Cox Communications, Inc.
3.35%, 9/15/2026 (a)		3,046		3,258
1.80%, 10/1/2030 (a)		14,882		14,140
2.95%, 10/1/2050 (a)		8,375		8,016
Discovery Communications LLC
3.63%, 5/15/2030		1,950		2,086
5.20%, 9/20/2047		11,160		13,943
4.00%, 9/15/2055		6,989		7,482
Grupo Televisa SAB (Mexico)
4.63%, 1/30/2026		1,494		1,624
6.13%, 1/31/2046		1,332		1,834
Sky Ltd. (United Kingdom) 3.75%, 9/16/2024 (a)		1,654		1,768
TCI Communications, Inc. 7.13%, 2/15/2028		1,199		1,559
Time Warner Cable LLC
6.55%, 5/1/2037		2,327		3,116
7.30%, 7/1/2038		2,197		3,152
6.75%, 6/15/2039		1,794		2,460
5.88%, 11/15/2040		7,325		9,282
5.50%, 9/1/2041		6,940		8,502
Time Warner Entertainment Co. LP 8.38%, 7/15/2033		3,041		4,483
ViacomCBS, Inc.
3.70%, 8/15/2024		2,480		2,640
4.00%, 1/15/2026		4,293		4,655
2.90%, 1/15/2027		2,792		2,924
4.38%, 3/15/2043		6,243		7,070
5.85%, 9/1/2043		4,432		6,006
4.90%, 8/15/2044		2,004		2,431
				317,239
Metals & Mining — 0.3%
Anglo American Capital plc (South Africa)
3.63%, 9/11/2024 (a)		3,283		3,464
3.95%, 9/10/2050 (a)		5,858		6,323
Barrick Gold Corp. (Canada) 6.45%, 10/15/2035		1,767		2,420
Glencore Funding LLC (Australia)
4.13%, 5/30/2023 (a)		4,240		4,428
4.63%, 4/29/2024 (a)		1,967		2,104
2.50%, 9/1/2030 (a)		16,105		15,667
2.63%, 9/23/2031 (a)		5,587		5,419
Newcrest Finance Pty. Ltd. (Australia) 3.25%, 5/13/2030 (a)		5,845		6,196
Nucor Corp. 2.98%, 12/15/2055		4,465		4,496
Steel Dynamics, Inc.
2.80%, 12/15/2024		9,805		10,189
3.25%, 10/15/2050		3,519		3,585
Teck Resources Ltd. (Canada) 3.90%, 7/15/2030		9,680		10,368
Vale Overseas Ltd. (Brazil) 3.75%, 7/8/2030		37,542		37,565
				112,224
Multiline Retail — 0.1%
Dollar General Corp. 4.13%, 5/1/2028		5,750		6,456
Kohl’s Corp. 3.38%, 5/1/2031		17,550		18,051
Nordstrom, Inc. 4.38%, 4/1/2030		7,263		7,128
				31,635
Multi-Utilities — 0.4%
CMS Energy Corp.
3.88%, 3/1/2024		4,360		4,595
3.00%, 5/15/2026		3,458		3,630
2.95%, 2/15/2027		2,426		2,529
3.45%, 8/15/2027		1,250		1,349
Consolidated Edison Co. of New York, Inc.
5.70%, 6/15/2040		2,760		3,735
Series 2017, 3.88%, 6/15/2047		3,355		3,756
4.50%, 5/15/2058		1,724		2,167
Consumers Energy Co. 3.25%, 8/15/2046		2,150		2,339
Delmarva Power & Light Co. 4.00%, 6/1/2042		1,478		1,655
Dominion Energy, Inc.
Series B, 2.75%, 1/15/2022		3,973		3,976
Series D, 2.85%, 8/15/2026		1,927		2,023
Series F, 5.25%, 8/1/2033		5,067		6,273
7.00%, 6/15/2038		1,076		1,569
Series C, 4.90%, 8/1/2041		1,840		2,302
New York State Electric & Gas Corp. 3.25%, 12/1/2026 (a)		2,326		2,481
NiSource, Inc.
2.95%, 9/1/2029		7,940		8,228
5.80%, 2/1/2042		6,726		9,048

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
PG&E Energy Recovery Funding LLC Series A-2, 2.28%, 1/15/2036		9,710		9,821
Public Service Enterprise Group, Inc. 1.60%, 8/15/2030		15,540		14,508
Puget Energy, Inc. 2.38%, 6/15/2028		6,522		6,460
San Diego Gas & Electric Co.
6.00%, 6/1/2026		1,852		2,196
Series FFF,
6.13%, 9/15/2037		973		1,355
3.95%, 11/15/2041		2,690		2,959
2.95%, 8/15/2051		17,150		17,504
Sempra Energy 4.05%, 12/1/2023		2,348		2,486
Southern Co. Gas Capital Corp.
2.45%, 10/1/2023		1,889		1,934
3.25%, 6/15/2026		1,690		1,787
5.88%, 3/15/2041		10,518		14,499
4.40%, 6/1/2043		1,392		1,619
3.95%, 10/1/2046		2,136		2,413
WEC Energy Group, Inc. 3.55%, 6/15/2025		5,885		6,277
				147,473
Oil, Gas & Consumable Fuels — 2.6%
APT Pipelines Ltd. (Australia)
4.20%, 3/23/2025 (a)		2,000		2,152
4.25%, 7/15/2027 (a)		7,325		8,120
BG Energy Capital plc (United Kingdom) 5.13%, 10/15/2041 (a)		5,781		7,508
Boardwalk Pipelines LP
4.45%, 7/15/2027		3,425		3,777
4.80%, 5/3/2029		6,595		7,462
BP Capital Markets America, Inc.
3.41%, 2/11/2026		8,485		9,092
3.02%, 1/16/2027		10,588		11,166
2.94%, 6/4/2051		25,080		24,408
BP Capital Markets plc (United Kingdom)
3.51%, 3/17/2025		4,509		4,796
3.28%, 9/19/2027		11,924		12,747
Buckeye Partners LP
5.85%, 11/15/2043		11,805		11,624
5.60%, 10/15/2044		6,000		5,745
Cheniere Corpus Christi Holdings LLC
5.88%, 3/31/2025		3,650		4,066
5.13%, 6/30/2027		7,481		8,469
3.70%, 11/15/2029		14,530		15,513
2.74%, 12/31/2039 (a)		10,205		10,044
Chevron USA, Inc.
8.00%, 4/1/2027		1,300		1,699
ConocoPhillips 3.75%, 10/1/2027 (a)		5,000		5,462
Devon Energy Corp. 5.60%, 7/15/2041		6,575		8,273
Diamondback Energy, Inc.
4.75%, 5/31/2025		27,227		29,832
3.25%, 12/1/2026		7,894		8,285
Eastern Gas Transmission & Storage, Inc. 3.90%, 11/15/2049 (a)		4,476		5,011
Ecopetrol SA (Colombia)
5.88%, 9/18/2023		2,575		2,715
4.13%, 1/16/2025		3,333		3,353
5.38%, 6/26/2026		5,409		5,660
Enable Midstream Partners LP
4.40%, 3/15/2027		2,695		2,913
4.95%, 5/15/2028		7,315		8,151
4.15%, 9/15/2029		14,071		15,153
5.00%, 5/15/2044 (e)		8,600		9,283
Energy Transfer LP
4.65%, 2/15/2022		600		605
2.90%, 5/15/2025		12,186		12,576
4.75%, 1/15/2026		6,380		6,988
3.90%, 7/15/2026		9,761		10,496
5.50%, 6/1/2027		2,916		3,335
7.50%, 7/1/2038		2,695		3,729
6.05%, 6/1/2041		4,475		5,486
6.10%, 2/15/2042		7,220		8,907
5.95%, 10/1/2043		3,950		4,822
5.30%, 4/1/2044		1,840		2,115
6.25%, 4/15/2049		5,655		7,342
5.00%, 5/15/2050		6,280		7,216
Eni SpA (Italy)
Series X-R, 4.00%, 9/12/2023 (a)		3,145		3,299
5.70%, 10/1/2040 (a)		4,843		6,259
Eni USA, Inc. (Italy) 7.30%, 11/15/2027		4,040		5,164
Enterprise Products Operating LLC
3.90%, 2/15/2024		2,687		2,835
3.70%, 2/15/2026		3,040		3,271
3.95%, 2/15/2027		2,705		2,955
Series J, 5.75%, 3/1/2035		2,509		3,150
7.55%, 4/15/2038		455		692
5.95%, 2/1/2041		1,259		1,702
4.45%, 2/15/2043		455		523
5.10%, 2/15/2045		1,758		2,199
4.95%, 10/15/2054		1,189		1,493
EQM Midstream Partners LP 5.50%, 7/15/2028		7,500		7,950
EQT Corp. 3.90%, 10/1/2027		4,517		4,709
Equinor ASA (Norway)
3.25%, 11/10/2024		3,461		3,670
2.88%, 4/6/2025		5,765		6,043
Exxon Mobil Corp.
3.00%, 8/16/2039		14,245		14,680
4.11%, 3/1/2046		2,726		3,243
3.10%, 8/16/2049		17,965		18,503
Flex Intermediate Holdco LLC
3.36%, 6/30/2031 (a)		13,075		13,214
4.32%, 12/30/2039 (a)		9,235		9,737
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates) 2.94%, 9/30/2040 (a)		16,650		16,359
Gray Oak Pipeline LLC 2.00%, 9/15/2023 (a)		9,310		9,416

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
2.60%, 10/15/2025 (a)		34,443		35,029
3.45%, 10/15/2027 (a)		12,470		12,996
Hess Corp. 6.00%, 1/15/2040		9,098		11,554
HollyFrontier Corp.
2.63%, 10/1/2023		21,813		22,321
5.88%, 4/1/2026		22,175		25,009
Kinder Morgan, Inc. 5.05%, 2/15/2046		6,000		7,172
Lundin Energy Finance BV (Netherlands)
2.00%, 7/15/2026 (a)		8,424		8,371
3.10%, 7/15/2031 (a)		8,400		8,488
Magellan Midstream Partners LP 3.20%, 3/15/2025		2,338		2,429
Marathon Petroleum Corp.
4.50%, 5/1/2023		15,924		16,637
4.70%, 5/1/2025		13,546		14,797
6.50%, 3/1/2041		8,270		11,441
MPLX LP
4.50%, 7/15/2023		8,800		9,201
4.80%, 2/15/2029		6,825		7,742
NGPL PipeCo LLC
4.88%, 8/15/2027 (a)		8,486		9,473
3.25%, 7/15/2031 (a)		8,283		8,389
NOVA Gas Transmission Ltd. (Canada) 7.88%, 4/1/2023		5,000		5,437
ONEOK Partners LP
3.38%, 10/1/2022		1,164		1,181
5.00%, 9/15/2023		2,576		2,729
6.65%, 10/1/2036		1,825		2,433
ONEOK, Inc. 5.85%, 1/15/2026		4,700		5,412
Phillips 66 4.88%, 11/15/2044		665		824
Phillips 66 Partners LP
3.55%, 10/1/2026		1,453		1,551
3.15%, 12/15/2029		8,545		8,825
4.90%, 10/1/2046		3,078		3,784
Pioneer Natural Resources Co. 1.90%, 8/15/2030		18,050		17,094
Plains All American Pipeline LP
4.65%, 10/15/2025		3,925		4,284
5.15%, 6/1/2042		18,910		20,964
4.70%, 6/15/2044		9,300		9,865
Sabine Pass Liquefaction LLC
5.63%, 3/1/2025		3,765		4,198
5.00%, 3/15/2027		9,360		10,537
4.50%, 5/15/2030		5,000		5,656
Saudi Arabian Oil Co. (Saudi Arabia)
1.25%, 11/24/2023 (a)		1,320		1,321
1.63%, 11/24/2025 (a)		4,660		4,631
Spectra Energy Partners LP 4.50%, 3/15/2045		1,975		2,288
Suncor Energy, Inc. (Canada)
5.95%, 12/1/2034		11,584		15,051
6.80%, 5/15/2038		3,677		5,193
Texas Eastern Transmission LP
2.80%, 10/15/2022 (a)		6,209		6,279
3.50%, 1/15/2028 (a)		908		976
TotalEnergies Capital International SA (France)
3.46%, 2/19/2029		3,040		3,312
2.99%, 6/29/2041		21,000		21,467
3.46%, 7/12/2049		12,800		13,982
3.13%, 5/29/2050		20,230		20,895
TransCanada PipeLines Ltd. (Canada)
6.20%, 10/15/2037		6,345		8,669
4.75%, 5/15/2038		7,750		9,237
Valero Energy Corp.
1.20%, 3/15/2024		17,940		17,856
2.15%, 9/15/2027		14,850		14,809
7.50%, 4/15/2032		1,081		1,480
Williams Cos., Inc. (The) 2.60%, 3/15/2031		9,675		9,606
				940,037
Pharmaceuticals — 0.6%
AstraZeneca plc (United Kingdom)
6.45%, 9/15/2037		4,250		6,262
4.00%, 9/18/2042		4,270		5,125
Bristol-Myers Squibb Co.
3.90%, 2/20/2028		10,610		11,867
3.40%, 7/26/2029		13,631		14,929
4.13%, 6/15/2039		7,096		8,432
5.00%, 8/15/2045		5,231		7,032
4.55%, 2/20/2048		6,500		8,389
Mylan, Inc.
3.13%, 1/15/2023 (a)		3,886		3,981
5.40%, 11/29/2043		5,800		7,228
Royalty Pharma plc
0.75%, 9/2/2023		9,830		9,775
1.20%, 9/2/2025		8,570		8,408
1.75%, 9/2/2027		8,570		8,378
3.30%, 9/2/2040		12,050		12,022
3.55%, 9/2/2050		20,980		21,124
Shire Acquisitions Investments Ireland DAC
2.88%, 9/23/2023		4,909		5,066
3.20%, 9/23/2026		26,941		28,500
Takeda Pharmaceutical Co. Ltd. (Japan)
5.00%, 11/26/2028		8,565		10,081
2.05%, 3/31/2030		1,200		1,166
3.03%, 7/9/2040		25,815		26,240
Utah Acquisition Sub, Inc. 3.95%, 6/15/2026		4,153		4,465
Viatris, Inc.
3.85%, 6/22/2040		8,499		9,052
4.00%, 6/22/2050		1,732		1,866
Wyeth LLC 6.45%, 2/1/2024		708		792
Zoetis, Inc. 2.00%, 5/15/2030		12,880		12,666
				232,846

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Real Estate Management & Development — 0.0% (b)
Ontario Teachers’ Cadillac Fairview Properties Trust (Canada)
3.13%, 3/20/2022 (a)		6,257		6,294
3.88%, 3/20/2027 (a)		6,562		7,189
				13,483
Road & Rail — 0.3%
Burlington Northern Santa Fe LLC
3.75%, 4/1/2024		2,365		2,501
7.29%, 6/1/2036		1,166		1,757
5.75%, 5/1/2040		3,244		4,510
5.40%, 6/1/2041		9,266		12,579
4.40%, 3/15/2042		2,010		2,475
4.38%, 9/1/2042		4,018		4,977
5.15%, 9/1/2043		3,380		4,579
4.70%, 9/1/2045		3,150		4,120
3.55%, 2/15/2050		5,584		6,352
CSX Corp.
5.50%, 4/15/2041		3,498		4,742
4.75%, 5/30/2042		1,516		1,913
4.75%, 11/15/2048		8,165		10,734
3.35%, 9/15/2049		2,710		2,915
ERAC USA Finance LLC
7.00%, 10/15/2037 (a)		425		631
5.63%, 3/15/2042 (a)		3,104		4,307
JB Hunt Transport Services, Inc. 3.88%, 3/1/2026		8,420		9,147
Kansas City Southern 4.70%, 5/1/2048		2,500		3,173
Norfolk Southern Corp.
5.59%, 5/17/2025		51		58
3.95%, 10/1/2042		2,888		3,318
4.05%, 8/15/2052		5,192		6,307
Penske Truck Leasing Co. LP
4.13%, 8/1/2023 (a)		5,795		6,078
3.95%, 3/10/2025 (a)		3,095		3,315
4.20%, 4/1/2027 (a)		2,525		2,799
Union Pacific Corp.
3.95%, 8/15/2059		6,000		7,162
4.10%, 9/15/2067		1,962		2,420
				112,869
Semiconductors & Semiconductor Equipment — 0.6%
Analog Devices, Inc. 2.95%, 10/1/2051		6,000		6,272
Broadcom, Inc.
4.11%, 9/15/2028		11,842		12,952
4.15%, 11/15/2030		7,114		7,774
2.45%, 2/15/2031 (a)		31,809		30,613
3.14%, 11/15/2035 (a)		40,051		39,370
3.19%, 11/15/2036 (a)		5,766		5,677
KLA Corp. 3.30%, 3/1/2050		7,000		7,587
Marvell Technology, Inc. 2.45%, 4/15/2028		7,790		7,843
Microchip Technology, Inc.
0.97%, 2/15/2024 (a)		17,350		17,190
0.98%, 9/1/2024 (a)		24,500		24,146
NXP BV (China)
2.50%, 5/11/2031 (a)		23,775		23,623
3.25%, 5/11/2041 (a)		24,465		24,920
Xilinx, Inc. 2.38%, 6/1/2030		15,185		15,500
				223,467
Software — 0.4%
Citrix Systems, Inc. 1.25%, 3/1/2026		6,125		5,936
Microsoft Corp.
3.50%, 2/12/2035		3,459		3,972
2.92%, 3/17/2052		3,816		4,063
3.04%, 3/17/2062		1,820		1,966
Oracle Corp.
2.40%, 9/15/2023		7,023		7,179
2.95%, 5/15/2025		14,625		15,293
2.30%, 3/25/2028		31,995		32,172
4.30%, 7/8/2034		969		1,095
3.90%, 5/15/2035		1,952		2,124
3.85%, 7/15/2036		9,478		10,307
3.60%, 4/1/2040		10,434		10,810
3.65%, 3/25/2041		19,515		20,302
4.00%, 7/15/2046		8,872		9,585
3.60%, 4/1/2050		10,500		10,626
VMware, Inc.
2.95%, 8/21/2022		10,109		10,251
4.65%, 5/15/2027		8,800		9,945
				155,626
Specialty Retail — 0.1%
AutoZone, Inc. 1.65%, 1/15/2031		12,180		11,431
Lowe’s Cos., Inc.
3.65%, 4/5/2029		12,563		13,809
1.70%, 10/15/2030		2,600		2,471
2.63%, 4/1/2031		4,000		4,090
3.00%, 10/15/2050		7,130		7,167
O’Reilly Automotive, Inc. 3.60%, 9/1/2027		4,715		5,148
				44,116
Technology Hardware, Storage & Peripherals — 0.3%
Apple, Inc.
3.25%, 2/23/2026		798		854
2.45%, 8/4/2026		5,261		5,480
3.45%, 2/9/2045		14,187		15,899
3.85%, 8/4/2046		3,512		4,190
3.75%, 9/12/2047		13,570		16,149
3.75%, 11/13/2047		1,600		1,905
2.70%, 8/5/2051		16,470		16,471
Dell International LLC
5.45%, 6/15/2023		4,536		4,811
6.02%, 6/15/2026		25,413		29,580
4.90%, 10/1/2026		8,190		9,251
5.30%, 10/1/2029		6,000		7,111
HP, Inc. 3.00%, 6/17/2027		11,105		11,691
				123,392
Thrifts & Mortgage Finance — 0.2%
BPCE SA (France)
4.63%, 7/11/2024 (a)		11,600		12,465
1.00%, 1/20/2026 (a)		20,500		19,917
(SOFR + 1.52%), 1.65%, 10/6/2026 (a) (c)		11,406		11,273
3.38%, 12/2/2026		4,230		4,532

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
(SOFR + 1.31%), 2.28%, 1/20/2032  (a) (c)		15,245		14,638
Nationwide Building Society (United Kingdom)
1.00%, 8/28/2025 (a)		8,810		8,638
1.50%, 10/13/2026 (a)		19,850		19,519
				90,982
Tobacco — 0.3%
Altria Group, Inc. 2.45%, 2/4/2032		27,925		26,288
BAT Capital Corp. (United Kingdom)
3.56%, 8/15/2027		10,000		10,465
2.26%, 3/25/2028		14,000		13,676
4.39%, 8/15/2037		7,980		8,474
3.73%, 9/25/2040		8,470		8,158
4.54%, 8/15/2047		5,515		5,784
3.98%, 9/25/2050		13,170		12,860
BAT International Finance plc (United Kingdom) 1.67%, 3/25/2026		11,000		10,836
				96,541
Trading Companies & Distributors — 0.5%
Air Lease Corp.
2.63%, 7/1/2022		7,986		8,062
2.30%, 2/1/2025		9,600		9,747
3.25%, 3/1/2025		6,266		6,528
3.38%, 7/1/2025		15,102		15,831
2.88%, 1/15/2026		24,378		25,019
3.75%, 6/1/2026		3,734		3,970
1.88%, 8/17/2026		15,645		15,404
3.25%, 10/1/2029		15,000		15,333
Aviation Capital Group LLC
3.88%, 5/1/2023 (a)		7,665		7,935
5.50%, 12/15/2024 (a)		19,502		21,471
4.13%, 8/1/2025 (a)		7,958		8,475
BOC Aviation Ltd. (Singapore)
2.75%, 9/18/2022 (a)		3,000		3,033
3.50%, 10/10/2024 (a)		7,945		8,378
International Lease Finance Corp.
8.63%, 1/15/2022		11,894		12,004
5.88%, 8/15/2022		3,867		4,005
WW Grainger, Inc. 4.60%, 6/15/2045		4,364		5,707
				170,902
Transportation Infrastructure — 0.0% (b)
Sydney Airport Finance Co. Pty. Ltd. (Australia) 3.38%, 4/30/2025 (a)		7,000		7,368
Water Utilities — 0.0% (b)
American Water Capital Corp.
3.45%, 6/1/2029		5,250		5,724
6.59%, 10/15/2037		3,354		4,887
4.00%, 12/1/2046		2,241		2,643
				13,254
Wireless Telecommunication Services — 0.5%
America Movil SAB de CV (Mexico)
3.13%, 7/16/2022		3,250		3,288
3.63%, 4/22/2029		12,995		14,049
4.38%, 4/22/2049		8,284		10,218
T-Mobile USA, Inc.
3.75%, 4/15/2027		31,500		33,866
2.05%, 2/15/2028		33,720		33,219
3.88%, 4/15/2030		25,095		27,274
3.00%, 2/15/2041		13,130		12,531
3.60%, 11/15/2060 (a)		4,000		3,981
Vodafone Group plc (United Kingdom)
5.25%, 5/30/2048		7,449		9,690
4.88%, 6/19/2049		16,825		21,039
				169,155
TOTAL CORPORATE BONDS (Cost $10,158,674)				10,606,221
U.S. TREASURY OBLIGATIONS — 25.5%
U.S. Treasury Bonds
3.50%, 2/15/2039		36,335		46,248
4.25%, 5/15/2039		62,245		86,533
3.88%, 8/15/2040		54,475		72,841
1.88%, 2/15/2041		282,192		283,107
2.25%, 5/15/2041		142,900		152,099
1.75%, 8/15/2041		130,000		127,623
2.75%, 11/15/2042		154,890		178,904
3.13%, 2/15/2043		18,180		22,208
3.63%, 8/15/2043		113,140		148,951
3.75%, 11/15/2043		256,218		343,843
3.63%, 2/15/2044		154,280		203,897
3.00%, 11/15/2044		50,821		61,636
2.88%, 8/15/2045		4,490		5,374
2.50%, 2/15/2046		70,000		78,917
2.25%, 8/15/2046		179,932		194,396
3.00%, 2/15/2047		1,875		2,322
3.00%, 2/15/2048		78,220		97,748
3.13%, 5/15/2048		43,243		55,338
2.88%, 5/15/2049		12,946		16,002
2.25%, 8/15/2049		180,150		198,045
2.38%, 11/15/2049		98,830		111,601
2.00%, 2/15/2050		73,113		76,392
1.38%, 8/15/2050		25,855		23,333
1.63%, 11/15/2050		76,730		73,574
1.88%, 2/15/2051		332,475		338,034
2.38%, 5/15/2051		46,815		53,098
2.00%, 8/15/2051		60,000		62,831
U.S. Treasury Inflation Indexed Bonds
1.75%, 1/15/2028		2,100		3,320
3.63%, 4/15/2028		9,066		20,610
2.50%, 1/15/2029		3,587		5,900
U.S. Treasury Inflation Indexed Notes 0.13%, 1/15/2022		22,231		27,224
U.S. Treasury Notes
1.75%, 2/28/2022		202,070		202,907
1.63%, 8/31/2022		150,000		151,617
2.00%, 10/31/2022		13,000		13,208
1.75%, 1/31/2023		70,000		71,184
1.50%, 2/28/2023		210,000		213,125

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
1.75%, 5/15/2023		133,400		136,026
2.75%, 5/31/2023		187,366		193,924
1.38%, 8/31/2023		20,000		20,309
0.13%, 10/15/2023		150,000		148,898
2.63%, 12/31/2023		150,000		156,305
2.75%, 2/15/2024		25,000		26,167
2.13%, 2/29/2024		4,955		5,120
2.50%, 5/15/2024		2,000		2,087
2.13%, 9/30/2024		25,000		25,930
2.25%, 11/15/2024		3,021		3,146
1.75%, 12/31/2024		147,012		151,009
2.00%, 2/15/2025		155,000		160,364
2.88%, 4/30/2025		4,925		5,245
2.13%, 5/15/2025		105,395		109,594
2.88%, 5/31/2025		40,158		42,800
2.00%, 8/15/2025		141,304		146,410
2.25%, 11/15/2025		110,049		115,182
0.38%, 1/31/2026		45,675		44,344
0.50%, 2/28/2026		313,160		305,417
2.50%, 2/28/2026		12,550		13,282
0.75%, 4/30/2026		15,670		15,424
0.88%, 6/30/2026		248,957		246,137
0.88%, 9/30/2026		225,000		222,100
2.00%, 11/15/2026		10,000		10,414
1.75%, 12/31/2026		64,262		66,190
0.38%, 9/30/2027		31,575		30,025
1.25%, 3/31/2028		160,035		159,435
1.25%, 4/30/2028		85,520		85,153
2.88%, 5/15/2028		7,030		7,708
1.25%, 6/30/2028		360,700		358,614
1.00%, 7/31/2028		225,000		219,955
1.13%, 2/15/2031		165,000		161,075
U.S. Treasury STRIPS Bonds
3.15%, 2/15/2022 (h)		165,423		165,405
2.73%, 5/15/2022 (h)		149,456		149,391
2.14%, 11/15/2022 (h)		237,280		236,929
3.35%, 2/15/2023 (h)		254,322		253,442
3.14%, 5/15/2023 (h)		277,105		275,690
2.57%, 8/15/2023 (h)		127,910		126,949
2.75%, 11/15/2023 (h)		30,767		30,446
2.16%, 2/15/2024 (h)		117,209		115,607
3.02%, 5/15/2024 (h)		67,278		66,113
3.18%, 8/15/2024 (h)		51,591		50,505
8.09%, 11/15/2024 (h)		3,200		3,123
6.73%, 2/15/2025 (h)		6,601		6,415
5.33%, 2/15/2026 (h)		6,700		6,409
5.57%, 5/15/2026 (h)		24,999		23,773
0.69%, 11/15/2026 (h)		10,990		10,358
1.37%, 11/15/2027 (h)		50,000		46,201
1.63%, 8/15/2029 (h)		100,000		89,249
1.82%, 11/15/2030 (h)		100,000		87,097
4.63%, 5/15/2032 (h)		113,297		95,863
3.47%, 8/15/2032 (h)		149,800		126,096
3.90%, 11/15/2032 (h)		122,788		102,809
3.98%, 2/15/2033 (h)		36,300		30,252
4.21%, 5/15/2033 (h)		108,105		89,633
5.81%, 8/15/2033 (h)		24,963		20,596
6.66%, 11/15/2033 (h)		33,709		27,651
TOTAL U.S. TREASURY OBLIGATIONS (Cost $9,032,852)				9,453,781
MORTGAGE-BACKED SECURITIES — 14.9%
FHLMC
Pool # 785618, ARM, 2.13%, 7/1/2026 (i)		20		20
Pool # 611141, ARM, 2.23%, 1/1/2027 (i)		19		19
Pool # 846812, ARM, 2.37%, 4/1/2030 (i)		6		6
Pool # 789758, ARM, 2.48%, 9/1/2032 (i)		27		27
Pool # 847621, ARM, 2.37%, 5/1/2033 (i)		578		611
Pool # 781087, ARM, 2.36%, 12/1/2033 (i)		114		115
Pool # 1B1665, ARM, 2.07%, 4/1/2034 (i)		103		104
Pool # 782870, ARM, 2.46%, 9/1/2034 (i)		517		548
Pool # 782979, ARM, 2.37%, 1/1/2035 (i)		696		739
Pool # 782980, ARM, 2.37%, 1/1/2035 (i)		181		190
Pool # 1G3591, ARM, 1.91%, 8/1/2035 (i)		47		47
Pool # 1Q0007, ARM, 2.39%, 12/1/2035 (i)		118		120
Pool # 1Q0025, ARM, 2.02%, 2/1/2036 (i)		72		76
Pool # 848431, ARM, 2.35%, 2/1/2036 (i)		254		267
Pool # 1G1861, ARM, 2.41%, 3/1/2036 (i)		370		385
Pool # 1J1380, ARM, 2.79%, 3/1/2036 (i)		181		193
Pool # 1H2618, ARM, 2.37%, 5/1/2036 (i)		366		390
Pool # 1L1286, ARM, 2.37%, 5/1/2036 (i)		136		144
Pool # 1G2415, ARM, 2.61%, 5/1/2036 (i)		52		55
Pool # 1G2557, ARM, 2.22%, 6/1/2036 (i)		776		822
Pool # 848068, ARM, 2.27%, 6/1/2036 (i)		496		495
Pool # 1A1082, ARM, 1.96%, 7/1/2036 (i)		235		245
Pool # 1H2623, ARM, 2.26%, 7/1/2036 (i)		120		129
Pool # 848365, ARM, 2.32%, 7/1/2036 (i)		181		193

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Pool # 1N0206, ARM, 1.85%, 8/1/2036 (i)		563			584
Pool # 1A1085, ARM, 1.87%, 8/1/2036 (i)		232			242
Pool # 1Q0105, ARM, 1.99%, 9/1/2036 (i)		277			291
Pool # 1B7242, ARM, 2.19%, 9/1/2036 (i)		658			695
Pool # 1N0249, ARM, 1.82%, 10/1/2036 (i)		244			248
Pool # 1G2539, ARM, 1.85%, 10/1/2036 (i)		111			111
Pool # 1A1096, ARM, 1.87%, 10/1/2036 (i)		543			568
Pool # 1A1097, ARM, 2.00%, 10/1/2036 (i)		201			210
Pool # 1J1348, ARM, 2.45%, 10/1/2036 (i)		194			195
Pool # 1K0046, ARM, 2.48%, 10/1/2036 (i)		191			192
Pool # 1G2671, ARM, 2.01%, 11/1/2036 (i)		102			103
Pool # 1J1378, ARM, 2.01%, 11/1/2036 (i)		300			313
Pool # 1Q0737, ARM, 2.04%, 11/1/2036 (i)		243			246
Pool # 782760, ARM, 2.31%, 11/1/2036 (i)		580			619
Pool # 848115, ARM, 2.35%, 11/1/2036 (i)		163			171
Pool # 1J1419, ARM, 1.86%, 12/1/2036 (i)		820			860
Pool # 1J1634, ARM, 1.96%, 12/1/2036 (i)		1,123			1,181
Pool # 1J1418, ARM, 2.06%, 12/1/2036 (i)		35			35
Pool # 1G1386, ARM, 2.27%, 12/1/2036 (i)		366			382
Pool # 1J1399, ARM, 2.42%, 12/1/2036 (i)		15			15
Pool # 1N1511, ARM, 1.79%, 1/1/2037 (i)		49			50
Pool # 1G1478, ARM, 2.16%, 1/1/2037 (i)		163			166
Pool # 1J1516, ARM, 2.07%, 2/1/2037 (i)		74			78
Pool # 1N0353, ARM, 2.23%, 2/1/2037 (i)		229			234
Pool # 1G1554, ARM, 2.28%, 2/1/2037 (i)		131			133
Pool # 1J1543, ARM, 2.48%, 2/1/2037 (i)		23			23
Pool # 1Q0739, ARM, 2.08%, 3/1/2037 (i)		487			511
Pool # 1B7303, ARM, 2.68%, 3/1/2037 (i)		32			32
Pool # 1J0399, ARM, 2.28%, 4/1/2037 (i)		14			14
Pool # 1J1564, ARM, 2.35%, 4/1/2037 (i)		225			225
Pool # 1Q0697, ARM, 1.78%, 5/1/2037 (i)		404			421
Pool # 1N1477, ARM, 2.14%, 5/1/2037 (i)		94			99
Pool # 1A1193, ARM, 2.17%, 5/1/2037 (i)		375			377
Pool # 1N1463, ARM, 2.26%, 5/1/2037 (i)		22			22
Pool # 1J1621, ARM, 2.43%, 5/1/2037 (i)		315			337
Pool # 1Q0783, ARM, 2.43%, 5/1/2037 (i)		342			346
Pool # 1J0533, ARM, 2.12%, 7/1/2037 (i)		23			23
Pool # 1J2945, ARM, 2.00%, 11/1/2037 (i)		43			43
Pool # 1Q0722, ARM, 2.41%, 4/1/2038 (i)		249			264
Pool # 1Q0789, ARM, 2.22%, 5/1/2038 (i)		69			70
Pool # 848699, ARM, 2.12%, 7/1/2040 (i)		174			183
FHLMC Gold Pools, 15 Year
Pool # G12825, 6.50%, 3/1/2022		—	(j)		—	(j)
Pool # G13603, 5.50%, 2/1/2024		5			6
FHLMC Gold Pools, 20 Year
Pool # C91158, 6.50%, 1/1/2028		140			148
Pool # C91417, 3.50%, 1/1/2032		2,498			2,640
Pool # C91403, 3.50%, 3/1/2032		972			1,027
FHLMC Gold Pools, 30 Year
Pool # G00245, 8.00%, 8/1/2024		2			2
Pool # C00376, 8.00%, 11/1/2024		1			1
Pool # C00414, 7.50%, 8/1/2025		4			5
Pool # C00452, 7.00%, 4/1/2026		4			5
Pool # G00981, 8.50%, 7/1/2028		11			12
Pool # G02210, 7.00%, 12/1/2028		171			190
Pool # C47315, 6.50%, 8/1/2029		573			646
Pool # G03029, 6.00%, 10/1/2029		50			56
Pool # A88871, 7.00%, 1/1/2031		181			201
Pool # C68485, 7.00%, 7/1/2032		23			26
Pool # G01448, 7.00%, 8/1/2032		30			34

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Pool # C75791, 5.50%, 1/1/2033		232			263
Pool # A13625, 5.50%, 10/1/2033		207			240
Pool # A16107, 6.00%, 12/1/2033		89			99
Pool # G01864, 5.00%, 1/1/2034		141			160
Pool # A17537, 6.00%, 1/1/2034		161			187
Pool # A23139, 5.00%, 6/1/2034		422			475
Pool # A61572, 5.00%, 9/1/2034		520			591
Pool # A28796, 6.50%, 11/1/2034		47			54
Pool # G03369, 6.50%, 1/1/2035		552			615
Pool # A70350, 5.00%, 3/1/2035		146			162
Pool # A46987, 5.50%, 7/1/2035		463			530
Pool # G05713, 6.50%, 12/1/2035		345			392
Pool # G03777, 5.00%, 11/1/2036		335			380
Pool # C02660, 6.50%, 11/1/2036		104			122
Pool # G02427, 5.50%, 12/1/2036		185			214
Pool # A57681, 6.00%, 12/1/2036		36			43
Pool # G02682, 7.00%, 2/1/2037		46			53
Pool # G04949, 6.50%, 11/1/2037		275			322
Pool # G03666, 7.50%, 1/1/2038		392			456
Pool # G04952, 7.50%, 1/1/2038		220			258
Pool # G04077, 6.50%, 3/1/2038		338			398
Pool # G05671, 5.50%, 8/1/2038		368			415
Pool # G05190, 7.50%, 9/1/2038		163			186
Pool # C03466, 5.50%, 3/1/2040		131			151
Pool # A93383, 5.00%, 8/1/2040		1,390			1,585
Pool # A93511, 5.00%, 8/1/2040		5,371			6,123
Pool # G06493, 4.50%, 5/1/2041		9,068			10,030
Pool # V80351, 3.00%, 8/1/2043		16,867			17,990
Pool # Q52834, 4.00%, 12/1/2047		1,774			1,896
Pool # Z40179, 4.00%, 7/1/2048		34,478			36,918
Pool # Q57995, 5.00%, 8/1/2048		5,546			6,111
Pool # Q61104, 4.00%, 1/1/2049		1,774			1,890
Pool # Q61107, 4.00%, 1/1/2049		2,661			2,874
FHLMC Gold Pools, Other
Pool # G80341, 10.00%, 3/17/2026		—	(j)		—	(j)
Pool # P20570, 7.00%, 7/1/2029		7			7
Pool # G20027, 10.00%, 10/1/2030		41			45
Pool # B90491, 7.50%, 1/1/2032		413			461
Pool # U80192, 3.50%, 2/1/2033		1,180			1,265
Pool # U80342, 3.50%, 5/1/2033		1,393			1,494
Pool # U80345, 3.50%, 5/1/2033		3,749			4,020
Pool # L10221, 6.00%, 1/1/2034		48			50
Pool # P50523, 6.50%, 12/1/2035		93			97
Pool # H05030, 6.00%, 11/1/2036		58			64
Pool # L10291, 6.50%, 11/1/2036		976			1,094
Pool # P51353, 6.50%, 11/1/2036		809			927
Pool # P50595, 6.50%, 12/1/2036		1,424			1,677
Pool # P51361, 6.50%, 12/1/2036		625			735
Pool # G20028, 7.50%, 12/1/2036		1,364			1,522
Pool # P50531, 6.50%, 1/1/2037		101			107
Pool # P51251, 6.50%, 1/1/2037		50			52
Pool # P50536, 6.50%, 2/1/2037		69			72
Pool # P50556, 6.50%, 6/1/2037		44			45
Pool # U90690, 3.50%, 6/1/2042		11,993			12,886
Pool # U90975, 4.00%, 6/1/2042		8,461			9,206
Pool # T65101, 4.00%, 10/1/2042		353			371
Pool # U90402, 3.50%, 11/1/2042		740			791
Pool # U90673, 4.00%, 1/1/2043		1,270			1,385
Pool # U91192, 4.00%, 4/1/2043		2,104			2,279
Pool # U91488, 3.50%, 5/1/2043		1,415			1,512

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # U99051, 3.50%, 6/1/2043		3,734		4,012
Pool # U99134, 4.00%, 1/1/2046		41,554		45,314
Pool # U69030, 4.50%, 1/1/2046		14,654		16,125
FHLMC UMBS, 20 Year Pool # SC0104, 3.50%, 8/1/2035		11,194		11,916
FHLMC UMBS, 30 Year
Pool # ZT2236, 4.00%, 6/1/2048		27,241		28,991
Pool # ZT2212, 4.00%, 9/1/2048		6,353		6,763
Pool # QA0149, 4.00%, 6/1/2049		3,934		4,208
Pool # QA2578, 3.50%, 9/1/2049		1,529		1,607
Pool # RA2008, 4.00%, 1/1/2050		18,159		19,573
Pool # RA2282, 4.00%, 1/1/2050		10,603		11,577
Pool # QA7351, 3.00%, 2/1/2050		8,817		9,238
FNMA
Pool # 470623, ARM, 0.89%, 3/1/2022 (i)		7,237		7,234
Pool # 54844, ARM, 2.19%, 9/1/2027 (i)		17		18
Pool # 303532, ARM, 3.85%, 3/1/2029 (i)		11		11
Pool # 555732, ARM, 1.86%, 8/1/2033 (i)		141		147
Pool # 658481, ARM, 1.58%, 9/1/2033 (i)		227		228
Pool # 746299, ARM, 2.06%, 9/1/2033 (i)		61		64
Pool # 743546, ARM, 1.74%, 11/1/2033 (i)		236		237
Pool # 766610, ARM, 1.96%, 1/1/2034 (i)		30		30
Pool # 777132, ARM, 2.42%, 6/1/2034 (i)		199		210
Pool # 782306, ARM, 2.17%, 7/1/2034 (i)		3		3
Pool # 800422, ARM, 1.32%, 8/1/2034 (i)		169		170
Pool # 790235, ARM, 1.90%, 8/1/2034 (i)		82		83
Pool # 793062, ARM, 2.00%, 8/1/2034 (i)		36		36
Pool # 790964, ARM, 1.89%, 9/1/2034 (i)		6		6
Pool # 794792, ARM, 1.72%, 10/1/2034 (i)		48		50
Pool # 896463, ARM, 2.42%, 10/1/2034 (i)		185		197
Pool # 799912, ARM, 1.98%, 11/1/2034 (i)		28		28
Pool # 781563, ARM, 2.12%, 11/1/2034 (i)		31		32
Pool # 810896, ARM, 1.68%, 1/1/2035 (i)		790		819
Pool # 809319, ARM, 1.88%, 1/1/2035 (i)		58		59
Pool # 816594, ARM, 1.68%, 2/1/2035 (i)		25		26
Pool # 820602, ARM, 1.82%, 3/1/2035 (i)		122		122
Pool # 745862, ARM, 2.35%, 4/1/2035 (i)		170		172
Pool # 821378, ARM, 1.53%, 5/1/2035 (i)		55		55
Pool # 823660, ARM, 1.97%, 5/1/2035 (i)		40		41
Pool # 888605, ARM, 2.21%, 7/1/2035 (i)		30		29
Pool # 832801, ARM, 1.90%, 9/1/2035 (i)		91		93
Pool # 851432, ARM, 2.53%, 10/1/2035 (i)		318		319
Pool # 849251, ARM, 1.99%, 1/1/2036 (i)		403		421
Pool # 745445, ARM, 2.35%, 1/1/2036 (i)		147		155
Pool # 920340, ARM, 2.63%, 2/1/2036 (i)		37		37
Pool # 920843, ARM, 2.68%, 3/1/2036 (i)		1,219		1,303
Pool # 868952, ARM, 1.90%, 5/1/2036 (i)		27		27
Pool # 884066, ARM, 2.11%, 6/1/2036 (i)		104		105
Pool # 872825, ARM, 2.12%, 6/1/2036 (i)		559		590
Pool # 892868, ARM, 2.02%, 7/1/2036 (i)		191		194
Pool # 886558, ARM, 2.02%, 8/1/2036 (i)		333		348
Pool # 745784, ARM, 2.13%, 8/1/2036 (i)		129		130
Pool # 884722, ARM, 2.18%, 8/1/2036 (i)		47		47
Pool # 898179, ARM, 1.36%, 9/1/2036 (i)		646		664
Pool # 920547, ARM, 1.73%, 9/1/2036 (i)		185		193
Pool # 893580, ARM, 1.82%, 9/1/2036 (i)		207		215
Pool # 886772, ARM, 1.92%, 9/1/2036 (i)		494		512
Pool # 894452, ARM, 2.07%, 9/1/2036 (i)		114		115
Pool # 894239, ARM, 2.02%, 10/1/2036 (i)		229		229
Pool # 900191, ARM, 2.32%, 10/1/2036 (i)		242		247

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Pool # 900197, ARM, 2.32%, 10/1/2036 (i)		381			406
Pool # 902818, ARM, 2.20%, 11/1/2036 (i)		3			3
Pool # 902955, ARM, 2.07%, 12/1/2036 (i)		367			372
Pool # 920954, ARM, 1.70%, 1/1/2037 (i)		226			234
Pool # 888184, ARM, 2.29%, 1/1/2037 (i)		106			108
Pool # 913984, ARM, 1.61%, 2/1/2037 (i)		324			336
Pool # 915645, ARM, 2.26%, 2/1/2037 (i)		272			287
Pool # 888307, ARM, 1.98%, 4/1/2037 (i)		92			93
Pool # 948208, ARM, 1.47%, 7/1/2037 (i)		311			321
Pool # 944096, ARM, 1.72%, 7/1/2037 (i)		64			65
Pool # 995919, ARM, 1.89%, 7/1/2037 (i)		478			497
Pool # 938346, ARM, 2.08%, 7/1/2037 (i)		226			226
Pool # 945032, ARM, 2.62%, 8/1/2037 (i)		306			312
Pool # 946362, ARM, 1.76%, 9/1/2037 (i)		81			82
Pool # 946260, ARM, 2.16%, 9/1/2037 (i)		36			36
Pool # 952835, ARM, 2.40%, 9/1/2037 (i)		117			125
Pool # AD0085, ARM, 1.58%, 11/1/2037 (i)		504			521
Pool # 995108, ARM, 2.10%, 11/1/2037 (i)		300			320
Pool # AD0179, ARM, 2.35%, 12/1/2037 (i)		541			569
Pool # 966946, ARM, 2.16%, 1/1/2038 (i)		143			143
FNMA UMBS, 15 Year
Pool # 890129, 6.00%, 12/1/2021		—	(j)		—	(j)
Pool # 888834, 6.50%, 4/1/2022		—	(j)		—	(j)
Pool # 889634, 6.00%, 2/1/2023		72			73
Pool # AD0364, 5.00%, 5/1/2023		6			7
Pool # 995381, 6.00%, 1/1/2024		121			124
Pool # 995425, 6.00%, 1/1/2024		44			45
Pool # 995456, 6.50%, 2/1/2024		69			71
Pool # AE0081, 6.00%, 7/1/2024		39			40
Pool # AD0133, 5.00%, 8/1/2024		58			60
Pool # FM3386, 3.50%, 7/1/2034		2,127			2,245
FNMA UMBS, 20 Year
Pool # 254305, 6.50%, 5/1/2022		1			1
Pool # 555791, 6.50%, 12/1/2022		4			4
Pool # 889889, 6.50%, 7/1/2024		12			13
Pool # 888656, 6.50%, 4/1/2025		3			3
Pool # AE0096, 5.50%, 7/1/2025		95			105
Pool # 256311, 6.00%, 7/1/2026		120			133
Pool # 256352, 6.50%, 8/1/2026		221			246
Pool # 256803, 6.00%, 7/1/2027		163			181
Pool # 256962, 6.00%, 11/1/2027		82			91
Pool # 257007, 6.00%, 12/1/2027		247			275
Pool # 257048, 6.00%, 1/1/2028		444			494
Pool # 890222, 6.00%, 10/1/2028		314			349
Pool # AE0049, 6.00%, 9/1/2029		210			234
Pool # AO7761, 3.50%, 7/1/2032		667			710
Pool # MA1138, 3.50%, 8/1/2032		3,779			4,026
Pool # AL6238, 4.00%, 1/1/2035		10,110			11,061
FNMA UMBS, 30 Year
Pool # 189190, 7.50%, 11/1/2022		1			1
Pool # 50966, 7.00%, 1/1/2024		1			1
Pool # 250066, 8.00%, 5/1/2024		1			1
Pool # 250103, 8.50%, 7/1/2024		3			3
Pool # 303031, 7.50%, 10/1/2024		1			1
Pool # 308499, 8.50%, 5/1/2025		—	(j)		—	(j)
Pool # 399269, 7.00%, 4/1/2026		4			4
Pool # 689977, 8.00%, 3/1/2027		35			38
Pool # 695533, 8.00%, 6/1/2027		31			34
Pool # 313687, 7.00%, 9/1/2027		3			3
Pool # 756024, 8.00%, 9/1/2028		42			46
Pool # 755973, 8.00%, 11/1/2028		105			119

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # 455759, 6.00%, 12/1/2028		10		11
Pool # 252211, 6.00%, 1/1/2029		16		19
Pool # 459097, 7.00%, 1/1/2029		6		6
Pool # 889020, 6.50%, 11/1/2029		2,221		2,489
Pool # 598559, 6.50%, 8/1/2031		71		82
Pool # 679886, 6.50%, 2/1/2032		330		368
Pool # 649734, 7.00%, 6/1/2032		15		15
Pool # 682078, 5.50%, 11/1/2032		355		407
Pool # 675555, 6.00%, 12/1/2032		99		110
Pool # AL0045, 6.00%, 12/1/2032		743		863
Pool # 683351, 5.50%, 2/1/2033		9		10
Pool # 357363, 5.50%, 3/1/2033		406		465
Pool # 674349, 6.00%, 3/1/2033		44		49
Pool # 688625, 6.00%, 3/1/2033		25		28
Pool # 688655, 6.00%, 3/1/2033		11		12
Pool # 695584, 6.00%, 3/1/2033		6		6
Pool # 254693, 5.50%, 4/1/2033		262		300
Pool # 702901, 6.00%, 5/1/2033		110		128
Pool # 720576, 5.00%, 6/1/2033		80		90
Pool # 995656, 7.00%, 6/1/2033		441		510
Pool # 723852, 5.00%, 7/1/2033		81		92
Pool # 729296, 5.00%, 7/1/2033		87		98
Pool # 720155, 5.50%, 7/1/2033		63		71
Pool # 729379, 6.00%, 8/1/2033		23		26
Pool # AA0917, 5.50%, 9/1/2033		1,075		1,230
Pool # 737825, 6.00%, 9/1/2033		61		70
Pool # 750977, 4.50%, 11/1/2033		56		61
Pool # 725027, 5.00%, 11/1/2033		215		244
Pool # 755109, 5.50%, 11/1/2033		17		19
Pool # 753174, 4.00%, 12/1/2033		262		282
Pool # 725017, 5.50%, 12/1/2033		466		539
Pool # 759424, 5.50%, 1/1/2034		52		60
Pool # 751341, 5.50%, 3/1/2034		46		51
Pool # 770405, 5.00%, 4/1/2034		621		704
Pool # 776708, 5.00%, 5/1/2034		189		215
Pool # AC1317, 4.50%, 9/1/2034		166		182
Pool # 888568, 5.00%, 12/1/2034		145		164
Pool # 810663, 5.00%, 1/1/2035		91		100
Pool # 995003, 7.50%, 1/1/2035		188		218
Pool # 995156, 7.50%, 3/1/2035		239		282
Pool # 735503, 6.00%, 4/1/2035		481		547
Pool # 827776, 5.00%, 7/1/2035		65		73
Pool # 820347, 5.00%, 9/1/2035		293		334
Pool # 745148, 5.00%, 1/1/2036		228		260
Pool # 888417, 6.50%, 1/1/2036		1,392		1,551
Pool # 745275, 5.00%, 2/1/2036		185		210
Pool # 833629, 7.00%, 3/1/2036		12		14
Pool # 745418, 5.50%, 4/1/2036		334		381
Pool # 888016, 5.50%, 5/1/2036		449		518
Pool # 888209, 5.50%, 5/1/2036		293		339
Pool # 870770, 6.50%, 7/1/2036		26		30
Pool # 976871, 6.50%, 8/1/2036		895		1,014
Pool # AA0922, 6.00%, 9/1/2036		1,685		1,961
Pool # 745948, 6.50%, 10/1/2036		193		227
Pool # AA1019, 6.00%, 11/1/2036		262		308
Pool # 888476, 7.50%, 5/1/2037		191		233
Pool # 928584, 6.50%, 8/1/2037		139		164
Pool # 945870, 6.50%, 8/1/2037		215		242

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # 986648, 6.00%, 9/1/2037		433		507
Pool # 928670, 7.00%, 9/1/2037		215		230
Pool # 888890, 6.50%, 10/1/2037		343		399
Pool # 888707, 7.50%, 10/1/2037		888		1,070
Pool # 888892, 7.50%, 11/1/2037		265		312
Pool # AL0662, 5.50%, 1/1/2038		565		645
Pool # 995505, 8.00%, 1/1/2038		26		29
Pool # 929331, 6.00%, 4/1/2038		87		96
Pool # 909236, 7.00%, 9/1/2038		318		394
Pool # 890268, 6.50%, 10/1/2038		406		470
Pool # 995149, 6.50%, 10/1/2038		1,635		1,891
Pool # 934591, 7.00%, 10/1/2038		470		570
Pool # AB2869, 6.00%, 11/1/2038		354		404
Pool # 991908, 7.00%, 11/1/2038		319		373
Pool # 995504, 7.50%, 11/1/2038		199		240
Pool # 257510, 7.00%, 12/1/2038		977		1,213
Pool # AD0753, 7.00%, 1/1/2039		1,398		1,692
Pool # AD0780, 7.50%, 4/1/2039		869		1,082
Pool # AC2948, 5.00%, 9/1/2039		691		787
Pool # AC3740, 5.50%, 9/1/2039		249		277
Pool # AC7296, 5.50%, 12/1/2039		298		334
Pool # AD7790, 5.00%, 8/1/2040		2,942		3,352
Pool # AD9151, 5.00%, 8/1/2040		1,108		1,254
Pool # AL2059, 4.00%, 6/1/2042		8,331		9,260
Pool # AB9017, 3.00%, 4/1/2043		11,212		11,881
Pool # AT5891, 3.00%, 6/1/2043		14,421		15,375
Pool # AB9860, 3.00%, 7/1/2043		10,881		11,527
Pool # AL7527, 4.50%, 9/1/2043		5,571		6,162
Pool # AL7496, 3.50%, 5/1/2044		21,530		23,412
Pool # AX9319, 3.50%, 12/1/2044		8,264		8,834
Pool # AL7380, 3.50%, 2/1/2045		12,513		13,607
Pool # AS6479, 3.50%, 1/1/2046		28,421		30,908
Pool # BM1213, 4.00%, 4/1/2047		10,964		11,898
Pool # BH7650, 4.00%, 9/1/2047		7,049		7,641
Pool # BM3500, 4.00%, 9/1/2047		40,691		44,371
Pool # BE8344, 4.00%, 11/1/2047		2,656		2,843
Pool # BJ7248, 4.00%, 12/1/2047		5,115		5,570
Pool # BE8349, 4.00%, 1/1/2048		2,738		2,930
Pool # BJ5756, 4.00%, 1/1/2048		6,908		7,387
Pool # BJ7310, 4.00%, 1/1/2048		10,298		11,207
Pool # BJ8237, 4.00%, 1/1/2048		7,156		7,788
Pool # BJ8264, 4.00%, 1/1/2048		4,505		4,902
Pool # BM3375, 4.00%, 1/1/2048		8,273		8,990
Pool # BK1007, 4.00%, 2/1/2048		1,462		1,584
Pool # BK1134, 4.00%, 2/1/2048		7,148		7,652
Pool # BM3665, 4.00%, 3/1/2048		45,071		49,079
Pool # BE8366, 4.50%, 7/1/2048		6,736		7,311
Pool # BK7982, 5.00%, 7/1/2048		6,659		7,396
Pool # BN0271, 4.50%, 9/1/2048		2,498		2,702
Pool # BN1315, 4.50%, 9/1/2048		3,064		3,292
Pool # BN4733, 5.50%, 3/1/2049		496		560
Pool # BK8745, 4.50%, 4/1/2049		3,453		3,716
Pool # FM1939, 4.50%, 5/1/2049		19,441		20,875
Pool # BK8753, 4.50%, 6/1/2049		6,835		7,428
Pool # CA3713, 5.00%, 6/1/2049		4,489		4,923
Pool # BO2305, 4.00%, 7/1/2049		7,953		8,494
Pool # BO5607, 3.50%, 9/1/2049		4,031		4,238
Pool # BO1405, 4.00%, 9/1/2049		7,440		7,936
Pool # BO4392, 3.50%, 1/1/2050		7,927		8,361
Pool # BP5299, 3.50%, 3/1/2050		7,621		8,298

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # CA5729, 3.00%, 5/1/2050		7,952		8,263
Pool # FM3671, 4.50%, 5/1/2050		8,205		9,119
FNMA, 30 Year
Pool # 535183, 8.00%, 6/1/2028		5		5
Pool # 252409, 6.50%, 3/1/2029		70		76
Pool # 653815, 7.00%, 2/1/2033		9		10
Pool # 752786, 6.00%, 9/1/2033		86		93
Pool # CA3029, 4.00%, 1/1/2049		5,792		6,115
Pool # CA5105, 3.50%, 2/1/2050		8,892		9,354
FNMA, Other
Pool # 469873, 3.03%, 12/1/2021		7,166		7,164
Pool # 470269, 2.97%, 1/1/2022		5,757		5,756
Pool # 470622, 2.75%, 3/1/2022		1,321		1,323
Pool # 470539, 3.14%, 3/1/2022		2,259		2,258
Pool # 471151, 3.02%, 5/1/2022		5,124		5,123
Pool # 471881, 2.67%, 7/1/2022		5,426		5,446
Pool # 471828, 2.65%, 8/1/2022		8,968		9,016
Pool # AM0585, 2.38%, 11/1/2022		6,676		6,737
Pool # AM1437, 2.41%, 11/1/2022		1,203		1,214
Pool # AM0806, 2.45%, 11/1/2022		11,692		11,805
Pool # AM1385, 2.55%, 11/1/2022		9,684		9,782
Pool # AM1386, 2.55%, 11/1/2022		3,096		3,127
Pool # AM1476, 2.32%, 12/1/2022		2,890		2,920
Pool # AM1619, 2.34%, 12/1/2022		17,046		17,224
Pool # AM2111, 2.34%, 1/1/2023		10,577		10,702
Pool # AM2072, 2.37%, 1/1/2023		8,408		8,507
Pool # AM2252, 2.44%, 1/1/2023		7,640		7,736
Pool # AM2695, 2.49%, 3/1/2023		6,248		6,343
Pool # AM2747, 2.50%, 4/1/2023		12,555		12,778
Pool # AM3069, 2.64%, 4/1/2023		2,779		2,830
Pool # AL3594, 2.72%, 4/1/2023 (i)		2,606		2,655
Pool # AM3244, 2.52%, 5/1/2023		28,698		29,232
Pool # AM3577, 2.42%, 6/1/2023		6,933		7,061
Pool # AL3876, 2.73%, 6/1/2023 (i)		10,427		10,634
Pool # AM3589, 2.77%, 6/1/2023		7,601		7,771
Pool # AM3646, 2.64%, 7/1/2023		3,587		3,667
Pool # AM4011, 3.67%, 7/1/2023		42,150		43,579
Pool # AM3990, 3.74%, 7/1/2023		4,548		4,705
Pool # AM4170, 3.51%, 8/1/2023		9,000		9,302
Pool # AM4066, 3.59%, 8/1/2023		9,865		10,206
Pool # AM4716, 3.38%, 12/1/2023		2,850		2,958
Pool # AM4720, 3.45%, 1/1/2024		23,042		23,973
Pool # AM7024, 2.90%, 12/1/2024		8,200		8,598
Pool # AM7290, 2.97%, 12/1/2024		23,410		24,535
Pool # AM7124, 3.11%, 12/1/2024		24,474		25,786
Pool # AM7682, 2.84%, 1/1/2025		33,594		35,107
Pool # AM7654, 2.86%, 1/1/2025		6,268		6,561
Pool # AM7795, 2.92%, 1/1/2025		31,879		33,439
Pool # AM7698, 2.96%, 1/1/2025		9,350		9,830
Pool # AM7372, 3.05%, 1/1/2025		1,740		1,834
Pool # 470300, 3.64%, 1/1/2025		4,528		4,832
Pool # AM8251, 2.70%, 4/1/2025		9,312		9,726
Pool # AM8846, 2.68%, 5/1/2025		5,897		6,158
Pool # AM9149, 2.63%, 6/1/2025		6,039		6,303
Pool # AM9548, 3.17%, 8/1/2025		6,800		7,237
Pool # AN0029, 3.10%, 9/1/2025		9,513		10,104
Pool # AM4660, 3.77%, 12/1/2025		26,110		28,364
Pool # AN0767, 3.18%, 1/1/2026		8,090		8,633
Pool # AN1292, 2.84%, 4/1/2026		8,748		9,248

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # AN1590, 2.40%, 5/1/2026		9,064		9,439
Pool # AN1413, 2.49%, 5/1/2026		21,019		21,978
Pool # AN1497, 2.61%, 6/1/2026		11,034		11,598
Pool # AN1243, 2.64%, 6/1/2026		7,998		8,410
Pool # AN1247, 2.64%, 6/1/2026		9,848		10,356
Pool # 468645, 4.54%, 7/1/2026		2,150		2,421
Pool # AN2367, 2.46%, 8/1/2026		6,125		6,405
Pool # AM6381, 3.29%, 8/1/2026		32,293		34,717
Pool # 468574, 4.55%, 8/1/2026		6,736		7,351
Pool # 468573, 4.76%, 8/1/2026		8,175		9,219
Pool # 468927, 4.77%, 8/1/2026		5,203		5,868
Pool # AM6448, 3.25%, 9/1/2026		9,442		10,183
Pool # AM7062, 3.44%, 10/1/2026		7,914		8,578
Pool # AM7117, 3.14%, 12/1/2026		18,819		20,234
Pool # AM7262, 3.19%, 12/1/2026		16,145		17,440
Pool # AM7011, 3.22%, 12/1/2026		2,748		2,968
Pool # AM7390, 3.26%, 12/1/2026		7,305		7,875
Pool # FN0029, 4.63%, 12/1/2026 (i)		7,354		8,232
Pool # AM8008, 2.94%, 2/1/2027		11,734		12,488
Pool # AM7515, 3.34%, 2/1/2027		16,000		17,340
Pool # AM8280, 2.91%, 3/1/2027		5,718		6,071
Pool # AM8745, 2.81%, 5/1/2027		9,354		9,952
Pool # AM8784, 2.89%, 5/1/2027		7,839		8,364
Pool # AM8803, 2.78%, 6/1/2027		3,934		4,182
Pool # AM9087, 3.00%, 6/1/2027		16,389		17,607
Pool # AM9170, 3.00%, 6/1/2027		4,422		4,742
Pool # AM9345, 3.25%, 7/1/2027		7,417		8,063
Pool # AN6532, 2.92%, 9/1/2027		4,991		5,357
Pool # AN7048, 2.90%, 10/1/2027		6,475		6,932
Pool # AM1469, 2.96%, 11/1/2027		3,700		3,961
Pool # AN7669, 2.83%, 12/1/2027		19,942		21,312
Pool # AN8114, 3.00%, 1/1/2028		7,771		8,378
Pool # AN8048, 3.08%, 1/1/2028		43,775		47,321
Pool # AN7943, 3.10%, 1/1/2028		14,794		16,043
Pool # AN1600, 2.59%, 6/1/2028		7,262		7,693
Pool # AN9686, 3.52%, 6/1/2028		40,550		45,123
Pool # AN9486, 3.57%, 6/1/2028		26,476		29,608
Pool # AN2005, 2.73%, 7/1/2028		9,765		10,445
Pool # 387806, 3.55%, 8/1/2028		15,289		17,085
Pool # 109782, 3.55%, 9/1/2028		42,698		47,660
Pool # BL0919, 3.82%, 9/1/2028		18,938		21,352
Pool # BL1040, 3.81%, 12/1/2028		42,090		47,905
Pool # BL0907, 3.88%, 12/1/2028		11,997		13,663
Pool # BL1435, 3.53%, 1/1/2029		23,495		26,330
Pool # BL4317, 2.27%, 9/1/2029		4,709		4,915
Pool # AN6846, 2.93%, 10/1/2029		13,300		14,459
Pool # BL4333, 2.52%, 11/1/2029		41,968		44,535
Pool # AM8123, 2.92%, 2/1/2030		7,789		8,403
Pool # AM7785, 3.17%, 2/1/2030		5,980		6,566
Pool # AM7516, 3.55%, 2/1/2030		13,000		14,457
Pool # AM8692, 3.03%, 4/1/2030		25,000		27,253
Pool # AM8544, 3.08%, 4/1/2030		14,840		16,139
Pool # AM8889, 2.92%, 5/1/2030		11,320		12,335
Pool # AM8151, 2.94%, 5/1/2030		12,000		12,931
Pool # AM8802, 3.10%, 5/1/2030		4,907		5,347
Pool # AN9154, 3.64%, 5/1/2030		4,109		4,667
Pool # AM9020, 2.97%, 6/1/2030		7,627		8,243
Pool # AM9154, 3.18%, 6/1/2030		8,832		9,681
Pool # AN9293, 3.71%, 9/1/2030		60,000		68,526
Pool # BL9494, 1.46%, 12/1/2030		10,000		9,768

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # BL0979, 4.05%, 12/1/2030		4,125		4,822
Pool # AH9683, 5.00%, 4/1/2031		592		652
Pool # AN1829, 2.90%, 6/1/2031		7,401		7,988
Pool # BL4310, 2.35%, 10/1/2031		11,325		11,867
Pool # AN2625, 2.50%, 10/1/2031		9,641		10,148
Pool # AN5065, 3.34%, 4/1/2032		26,680		30,030
Pool # AQ7084, 3.50%, 12/1/2032		1,687		1,808
Pool # 650236, 5.00%, 12/1/2032		5		5
Pool # AR7484, 3.50%, 2/1/2033		2,633		2,823
Pool # AT7117, 3.50%, 6/1/2033		1,170		1,255
Pool # AN9695, 3.67%, 7/1/2033		32,550		38,073
Pool # AN9950, 3.89%, 7/1/2033		9,346		9,870
Pool # 810997, 5.50%, 10/1/2034		106		110
Pool # AM7122, 3.61%, 11/1/2034		5,253		6,038
Pool # BL5976, 2.49%, 4/1/2035		22,962		24,111
Pool # AM8474, 3.45%, 4/1/2035		4,715		5,364
Pool # AM8475, 3.45%, 4/1/2035		1,913		2,176
Pool # BL6315, 2.20%, 5/1/2035		5,081		5,162
Pool # AM9188, 3.12%, 6/1/2035		23,000		25,766
Pool # AM9532, 3.63%, 10/1/2035		3,554		4,122
Pool # AN0375, 3.76%, 12/1/2035		3,548		4,166
Pool # 256051, 5.50%, 12/1/2035		88		93
Pool # 256128, 6.00%, 2/1/2036		22		23
Pool # 880219, 7.00%, 2/1/2036		63		66
Pool # 868763, 6.50%, 4/1/2036		8		8
Pool # 907742, 7.00%, 12/1/2036		62		69
Pool # 920934, 6.50%, 1/1/2037		311		358
Pool # 888408, 6.00%, 3/1/2037		211		221
Pool # 888373, 7.00%, 3/1/2037		44		48
Pool # 888412, 7.00%, 4/1/2037		64		72
Pool # 995783, 8.00%, 11/1/2037		78		85
Pool # 257209, 5.50%, 5/1/2038		102		114
Pool # MA0127, 5.50%, 6/1/2039		140		153
Pool # AL2606, 4.00%, 3/1/2042		290		304
Pool # AO7225, 4.00%, 7/1/2042		1,789		1,937
Pool # AO9352, 4.00%, 7/1/2042		2,385		2,602
Pool # AO9353, 4.00%, 7/1/2042		2,184		2,381
Pool # MA1125, 4.00%, 7/1/2042		1,835		1,987
Pool # MA1178, 4.00%, 9/1/2042		10,270		11,120
Pool # MA1213, 3.50%, 10/1/2042		4,365		4,689
Pool # MA1251, 3.50%, 11/1/2042		11,723		12,592
Pool # MA1253, 4.00%, 11/1/2042		8,491		9,215
Pool # AR1397, 3.00%, 1/1/2043		7,863		8,339
Pool # MA1328, 3.50%, 1/1/2043		1,564		1,680
Pool # AQ9999, 3.00%, 2/1/2043		4,051		4,277
Pool # MA1373, 3.50%, 3/1/2043		2,622		2,817
Pool # MA1404, 3.50%, 4/1/2043		7,884		8,468
Pool # AB9096, 4.00%, 4/1/2043		974		1,055
Pool # AB9196, 3.50%, 5/1/2043		2,314		2,473
Pool # AT4051, 3.50%, 5/1/2043		1,092		1,173
Pool # MA1437, 3.50%, 5/1/2043		9,056		9,727
Pool # AT5914, 3.50%, 6/1/2043		5,353		5,750
Pool # MA1463, 3.50%, 6/1/2043		10,752		11,548
Pool # AB9704, 4.00%, 6/1/2043		2,343		2,554
Pool # MA1711, 4.50%, 12/1/2043		12,624		13,895
Pool # AL6167, 3.50%, 1/1/2044		5,707		6,129
Pool # MA1759, 4.00%, 1/1/2044		4,147		4,490
Pool # MA1760, 4.50%, 1/1/2044		4,004		4,407

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Pool # AV9286, 4.00%, 2/1/2044		3,143			3,426
Pool # MA1800, 4.00%, 2/1/2044		2,344			2,556
Pool # MA1828, 4.50%, 3/1/2044		9,897			10,959
Pool # MA2429, 4.00%, 10/1/2045		2,940			3,205
Pool # MA2565, 4.00%, 3/1/2046		3,796			4,119
Pool # BM5835, 3.00%, 9/1/2047		13,271			13,704
Pool # AD0523, 6.00%, 11/1/2048		248			267
Pool # BF0230, 5.50%, 1/1/2058		54,362			64,706
Pool # BF0341, 5.50%, 1/1/2059		23,478			27,766
Pool # BF0464, 3.50%, 3/1/2060		68,336			73,984
FNMA/FHLMC UMBS, Single Family, 30 Year TBA, 2.50%, 2/25/2052 (k)		1,086,455			1,108,481
GNMA I, 30 Year
Pool # 345288, 7.50%, 3/15/2023		—	(j)		—	(j)
Pool # 352108, 7.00%, 8/15/2023		—	(j)		—	(j)
Pool # 363030, 7.00%, 9/15/2023		15			15
Pool # 352022, 7.00%, 11/15/2023		1			1
Pool # 366706, 6.50%, 1/15/2024		12			13
Pool # 371281, 7.00%, 2/15/2024		4			4
Pool # 782507, 9.50%, 10/15/2024		—	(j)		—	(j)
Pool # 780029, 9.00%, 11/15/2024		—	(j)		—	(j)
Pool # 780965, 9.50%, 12/15/2025		—	(j)		—	(j)
Pool # 442119, 7.50%, 11/15/2026		2			2
Pool # 411829, 7.50%, 7/15/2027		6			6
Pool # 554108, 6.50%, 3/15/2028		48			53
Pool # 481872, 7.50%, 7/15/2028		4			4
Pool # 468149, 8.00%, 8/15/2028		6			6
Pool # 468236, 6.50%, 9/15/2028		103			114
Pool # 486537, 7.50%, 9/15/2028		17			19
Pool # 486631, 6.50%, 10/15/2028		4			5
Pool # 466406, 6.00%, 11/15/2028		38			42
Pool # 781328, 7.00%, 9/15/2031		408			468
Pool # 569568, 6.50%, 1/15/2032		314			362
Pool # 591882, 6.50%, 7/15/2032		17			19
Pool # 607645, 6.50%, 2/15/2033		66			73
Pool # 607724, 7.00%, 2/15/2033		43			48
Pool # 783123, 5.50%, 4/15/2033		1,623			1,878
Pool # 604209, 6.50%, 4/15/2033		46			51
Pool # 614546, 5.50%, 6/15/2033		15			17
Pool # 781614, 7.00%, 6/15/2033		113			134
Pool # 781689, 5.50%, 12/15/2033		61			71
Pool # 632415, 5.50%, 7/15/2034		23			26
Pool # 574710, 5.50%, 9/15/2034		24			27
Pool # 782615, 7.00%, 6/15/2035		977			1,129
Pool # 782025, 6.50%, 12/15/2035		360			415
Pool # 617486, 7.00%, 4/15/2037		108			118
Pool # 782212, 7.50%, 10/15/2037		190			219
Pool # BI6868, 5.00%, 3/15/2049		3,078			3,554
Pool # BM1726, 5.00%, 3/15/2049		3,544			4,085
GNMA II
Pool # CE5521, ARM, 1.84%, 8/20/2071 (i)		12,553			13,609
Pool # CE5523, ARM, 1.97%, 8/20/2071 (i)		20,323			22,071
Pool # CE9356, ARM, 1.68%, 9/20/2071 (i)		9,759			10,417
Pool # CE5537, ARM, 1.82%, 9/20/2071 (i)		33,399			36,217
Pool # CE5533, ARM, 1.88%, 9/20/2071 (i)		37,306			40,430
Pool # CE5536, ARM, 1.92%, 9/20/2071 (i)		31,723			34,486
Pool # CE5544, ARM, 1.80%, 10/20/2071 (i)		35,978			38,935
Pool # CE5550, ARM, 1.84%, 10/20/2071 (i)		18,000			19,787
GNMA II, 30 Year
Pool # 1974, 8.50%, 3/20/2025		1			1
Pool # 1989, 8.50%, 4/20/2025		4			5
Pool # 2006, 8.50%, 5/20/2025		6			6

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Pool # 2141, 8.00%, 12/20/2025		2			2
Pool # 2234, 8.00%, 6/20/2026		5			6
Pool # 2270, 8.00%, 8/20/2026		4			5
Pool # 2285, 8.00%, 9/20/2026		5			6
Pool # 2324, 8.00%, 11/20/2026		4			5
Pool # 2499, 8.00%, 10/20/2027		10			11
Pool # 2512, 8.00%, 11/20/2027		10			11
Pool # 2525, 8.00%, 12/20/2027		5			6
Pool # 2549, 7.50%, 2/20/2028		6			7
Pool # 2562, 6.00%, 3/20/2028		33			36
Pool # 2633, 8.00%, 8/20/2028		—	(j)		—	(j)
Pool # 2646, 7.50%, 9/20/2028		17			19
Pool # 2647, 8.00%, 9/20/2028		2			2
Pool # 2781, 6.50%, 7/20/2029		377			423
Pool # 4224, 7.00%, 8/20/2038		99			116
Pool # 4245, 6.00%, 9/20/2038		2,188			2,510
Pool # 783389, 6.00%, 8/20/2039		1,003			1,141
Pool # 783444, 5.50%, 9/20/2039		576			665
Pool # 783967, 4.25%, 12/20/2044		5,204			5,626
Pool # AK8791, 3.75%, 7/20/2045		1,721			1,879
Pool # BD0481, 4.00%, 12/20/2047		1,966			2,126
Pool # BD0484, 4.50%, 12/20/2047		10,134			10,855
Pool # BE0207, 4.50%, 2/20/2048		5,387			5,867
Pool # BE0208, 4.50%, 2/20/2048		6,653			7,192
Pool # BE5169, 4.50%, 2/20/2048		7,125			7,670
Pool # BA7567, 4.50%, 5/20/2048		2,463			2,624
Pool # BG6360, 5.00%, 5/20/2048		9,862			10,971
Pool # BF2574, 5.50%, 5/20/2048		135			150
Pool # BI0728, 5.00%, 7/20/2048		9,080			10,137
Pool # BD0551, 4.50%, 8/20/2048		3,094			3,340
Pool # BI5288, 5.00%, 8/20/2048		12,074			13,416
Pool # BI5289, 5.00%, 8/20/2048		18,734			20,773
Pool # AY2411, 4.25%, 9/20/2048		4,159			4,613
Pool # 784598, 5.00%, 9/20/2048		14,107			15,692
Pool # 784626, 4.50%, 10/20/2048		2,352			2,522
Pool # BK2586, 5.00%, 11/20/2048		2,188			2,390
Pool # BJ7082, 5.00%, 12/20/2048		767			844
Pool # BJ7085, 5.00%, 12/20/2048		1,810			1,995
Pool # BK7169, 5.00%, 12/20/2048		12,570			13,720
Pool # BK8878, 4.50%, 2/20/2049		3,060			3,289
Pool # BK7189, 5.00%, 2/20/2049		11,266			12,340
Pool # BJ9972, 5.50%, 2/20/2049		1,841			2,051
Pool # BK7198, 4.50%, 3/20/2049		4,403			4,708
Pool # BK7199, 5.00%, 3/20/2049		2,639			2,894
Pool # BL8042, 5.00%, 3/20/2049		9,006			9,945
Pool # BL9333, 5.00%, 3/20/2049		3,432			3,800
Pool # BG0079, 5.50%, 3/20/2049		1,735			1,933
Pool # BI6888, 5.50%, 3/20/2049		242			271
Pool # BL6756, 5.50%, 3/20/2049		620			690
Pool # BJ1322, 5.00%, 4/20/2049		6,392			7,138
Pool # BJ9622, 5.00%, 4/20/2049		2,953			3,224
Pool # BK7209, 5.00%, 4/20/2049		11,959			13,131
Pool # BL6758, 5.50%, 4/20/2049		3,029			3,373
Pool # BM9664, 4.50%, 5/20/2049		13,016			14,126
Pool # BM9683, 5.00%, 6/20/2049		24,892			27,351
Pool # BO2880, 5.00%, 6/20/2049		668			723
Pool # BN3950, 5.50%, 6/20/2049		5,542			6,218
Pool # BN2629, 4.00%, 7/20/2049		16,054			17,476

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # BI0926, 5.00%, 7/20/2049		1,240		1,361
Pool # BI0927, 5.00%, 7/20/2049		622		672
Pool # BM2186, 5.00%, 7/20/2049		1,001		1,101
Pool # BM2187, 5.00%, 7/20/2049		787		861
Pool # BO2871, 5.00%, 7/20/2049		549		598
Pool # BO2872, 5.00%, 7/20/2049		1,450		1,590
Pool # BO2878, 5.00%, 7/20/2049		747		808
Pool # BO2879, 5.00%, 7/20/2049		1,467		1,601
Pool # BO3162, 5.00%, 7/20/2049		62,993		71,053
Pool # BO3173, 5.00%, 7/20/2049		1,357		1,487
Pool # BO3174, 5.00%, 7/20/2049		760		822
Pool # BO3175, 5.00%, 7/20/2049		738		817
Pool # BO8226, 5.00%, 7/20/2049		717		781
Pool # BO8229, 5.00%, 7/20/2049		8,280		9,191
Pool # BO8235, 5.00%, 7/20/2049		1,008		1,095
Pool # BO8236, 5.00%, 7/20/2049		440		476
Pool # BP4243, 5.00%, 8/20/2049		14,728		16,257
Pool # BN2649, 3.50%, 9/20/2049		4,827		5,160
Pool # BM9713, 4.50%, 9/20/2049		4,216		4,515
Pool # BP4337, 4.50%, 9/20/2049		21,014		23,027
Pool # BQ3224, 4.50%, 9/20/2049		18,815		20,364
Pool # 784810, 5.00%, 9/20/2049		16,722		18,821
Pool # BM9734, 4.00%, 10/20/2049		6,306		6,766
Pool # 784847, 4.50%, 11/20/2049		28,822		31,342
Pool # BQ8694, 4.50%, 11/20/2049		1,199		1,311
Pool # BQ8696, 4.50%, 11/20/2049		1,248		1,378
Pool # BR2686, 4.50%, 11/20/2049		3,462		3,787
Pool # BR2687, 4.50%, 11/20/2049		5,991		6,613
Pool # BR2688, 4.50%, 11/20/2049		3,089		3,357
Pool # BR2689, 4.50%, 11/20/2049		4,645		5,076
Pool # BR2739, 4.50%, 11/20/2049		2,619		2,872
Pool # BR2756, 4.50%, 11/20/2049		2,742		3,026
Pool # BR2757, 4.50%, 11/20/2049		2,640		2,887
Pool # BR3820, 4.50%, 11/20/2049		608		657
Pool # BR3821, 4.50%, 11/20/2049		1,131		1,233
Pool # BS0953, 4.50%, 11/20/2049		2,358		2,591
Pool # BQ4131, 3.50%, 12/20/2049		16,078		17,037
Pool # BI0940, 4.50%, 12/20/2049		786		860
Pool # BQ3796, 4.50%, 12/20/2049		4,082		4,513
Pool # BR2730, 4.50%, 12/20/2049		1,201		1,315
Pool # BR2731, 4.50%, 12/20/2049		1,085		1,190
Pool # BR2732, 4.50%, 12/20/2049		1,973		2,170
Pool # BR2755, 4.50%, 12/20/2049		1,464		1,603
Pool # BR3822, 4.50%, 12/20/2049		900		978
Pool # BR3823, 4.50%, 12/20/2049		1,861		2,032
Pool # BR3824, 4.50%, 12/20/2049		2,151		2,362
Pool # BS0951, 4.50%, 12/20/2049		2,178		2,404
Pool # BS0952, 4.50%, 12/20/2049		1,697		1,874
Pool # BQ4132, 3.50%, 1/20/2050		6,484		6,931
Pool # BQ4133, 3.50%, 1/20/2050		6,620		7,143
Pool # BR1548, 3.50%, 1/20/2050		4,333		4,692
Pool # BS8380, 4.50%, 2/20/2050		6,121		6,702
Pool # BP8085, 3.00%, 3/20/2050		5,174		5,370
Pool # BR3892, 4.00%, 3/20/2050		14,770		16,389
Pool # BT8094, 4.00%, 4/20/2050		1,248		1,378
Pool # BT8095, 4.00%, 4/20/2050		6,464		7,055
Pool # BT8096, 4.00%, 4/20/2050		9,057		9,809
Pool # BT8097, 4.00%, 4/20/2050		9,925		10,804
Pool # BT8098, 4.00%, 4/20/2050		11,425		12,430
Pool # BT8099, 4.00%, 4/20/2050		11,482		12,432

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # BW7042, 3.50%, 9/20/2050		24,915		26,974
Pool # 785294, 3.50%, 1/20/2051		71,650		78,301
Pool # MA7534, 2.50%, 8/20/2051		360,059		370,372
Pool # MA7649, 2.50%, 10/20/2051		42,805		44,031
Pool # CH9031, 3.50%, 10/20/2051		23,373		25,294
Pool # CI9257, 3.50%, 11/20/2051		28,689		30,683
GNMA II, Other
Pool # AD0858, 3.75%, 9/20/2038		606		643
Pool # 4285, 6.00%, 11/20/2038		12		13
Pool # AD0862, 3.75%, 1/20/2039		1,179		1,251
Pool # AC0973, 4.39%, 5/20/2063 (i)		12		12
Pool # 784879, 4.08%, 11/20/2069 (i)		18,082		19,500
Pool # 785137, 3.09%, 8/20/2070 (i)		20,224		21,137
Pool # 785183, 2.93%, 10/20/2070 (i)		43,949		45,629
TOTAL MORTGAGE-BACKED SECURITIES (Cost $5,375,310)				5,511,961
COLLATERALIZED MORTGAGE OBLIGATIONS — 10.3%
ACC Series 2019-AA, 3.68%, 9/15/2022 ‡		48,488		48,488
Acrc Series TL-2021A, 3.75%, 11/15/2026 ‡		37,000		37,000
Alternative Loan Trust
Series 2004-2CB, Class 1A9, 5.75%, 3/25/2034		2,956		3,034
Series 2005-1CB, Class 1A6, IF, IO, 7.01%, 3/25/2035 ‡ (i)		909		130
Series 2005-22T1, Class A2, IF, IO, 4.98%, 6/25/2035 ‡ (i)		4,172		615
Series 2005-20CB, Class 3A8, IF, IO, 4.66%, 7/25/2035 ‡ (i)		3,093		391
Series 2005-28CB, Class 1A4, 5.50%, 8/25/2035		1,297		1,309
Series 2005-28CB, Class 3A5, 6.00%, 8/25/2035		52		33
Series 2005-37T1, Class A2, IF, IO, 4.96%, 9/25/2035 ‡ (i)		13,536		1,956
Series 2005-54CB, Class 1A2, IF, IO, 4.76%, 11/25/2035 ‡ (i)		4,370		615
Series 2005-54CB, Class 1A11, 5.50%, 11/25/2035		1,106		1,028
Series 2005-54CB, Class 1A7, 5.50%, 11/25/2035		16		15
Series 2005-64CB, Class 1A9, 5.50%, 12/25/2035		494		498
American General Mortgage Loan Trust Series 2006-1, Class A5, 5.75%, 12/25/2035 (a) (i)		7		7
Anchor Mortgage Trust Series 2021-1, Class A1, 2.60%, 10/25/2026 (a)		96,000		96,334
ANTLR Mortgage Trust Series 2021-RTL1, Class A1, 2.12%, 11/25/2024 (a) (i)		43,642		43,735
ASG Resecuritization Trust Series 2011-1, Class 2A35, 6.00%, 9/28/2036 (a) (i)		562		509
BAML PIMCO EBO 3.34%, 4/15/2023 ‡		33,901		33,901
Banc of America Alternative Loan Trust Series 2004-6, Class 15, PO, 7/25/2019 ‡		8		5
Banc of America Funding Trust
Series 2004-1, PO, 3/25/2034 ‡		128		102
Series 2004-2, Class 1CB1, 5.75%, 9/20/2034		157		168
Series 2005-6, Class 2A7, 5.50%, 10/25/2035		156		158
Series 2005-7, Class 30, PO, 11/25/2035 ‡		133		132
Series 2005-8, Class 30, PO, 1/25/2036 ‡		34		25
Series 2006-1, Class X, PO, 1/25/2036 ‡		40		28
Banc of America Mortgage Trust Series 2003-C, Class 3A1, 2.37%, 4/25/2033 (i)		90		92
Baring Series 2021-EBO1, Class PA, IO, 3.34%, 4/22/2023 ‡ (e) (i)		76,228		76,228
Bayview Financing Trust
Series 2020-3F, Class A, 3.08%, 11/10/2022 (a) (i)		41,171		41,171
Series 2021-2F, Class M1, 1.60%, 12/31/2049 ‡ (a) (i)		2,215		2,215
Series 2021-2F, Class M2, 2.55%, 12/31/2049 ‡ (a) (i)		36,300		36,300
Bear Stearns ARM Trust
Series 2003-2, Class A5, 2.57%, 1/25/2033 (a) (i)		616		639
Series 2003-7, Class 3A, 2.49%, 10/25/2033 (i)		21		21
Series 2004-2, Class 14A, 2.87%, 5/25/2034 (i)		243		240
Series 2006-1, Class A1, 2.40%, 2/25/2036 (i)		614		624

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Cendant Mortgage Capital CDMC Mortgage Pass-Through Certificates Series 2003-8, Class 1P, PO, 10/25/2033 ‡		18		16
Cendant Mortgage Capital LLC CDMC Mortgage Pass-Through Certificates Series 2004-1, Class P, PO, 2/25/2034 ‡		26		23
CFMT LLC Series 2021-HB5, Class A, 0.80%, 2/25/2031 (a) (i)		27,747		27,728
Chase Mortgage Finance Trust
Series 2007-A2, Class 1A1, 2.29%, 6/25/2035 (i)		109		107
Series 2007-A2, Class 2A1, 2.38%, 6/25/2035 (i)		253		256
Series 2007-A1, Class 1A3, 2.33%, 2/25/2037 (i)		161		164
Series 2007-A1, Class 2A1, 2.41%, 2/25/2037 (i)		289		292
Series 2007-A1, Class 7A1, 2.44%, 2/25/2037 (i)		37		38
Series 2007-A1, Class 9A1, 2.77%, 2/25/2037 (i)		169		172
CHL Mortgage Pass-Through Trust
Series 2004-8, Class 2A1, 4.50%, 6/25/2019		13		1
Series 2002-18, PO, 11/25/2032 ‡		44		38
Series 2004-3, Class A26, 5.50%, 4/25/2034		164		168
Series 2004-3, Class A4, 5.75%, 4/25/2034		112		114
Series 2004-HYB1, Class 2A, 2.56%, 5/20/2034 (i)		64		66
Series 2004-HYB3, Class 2A, 1.96%, 6/20/2034 (i)		305		311
Series 2004-7, Class 2A1, 2.47%, 6/25/2034 (i)		43		44
Series 2004-5, Class 1A4, 5.50%, 6/25/2034		642		666
Series 2004-HYB6, Class A3, 2.53%, 11/20/2034 (i)		227		234
Series 2005-14, Class A2, 5.50%, 7/25/2035		97		70
Series 2005-16, Class A23, 5.50%, 9/25/2035		54		47
Series 2005-22, Class 2A1, 2.47%, 11/25/2035 (i)		843		804
Citicorp Mortgage Securities Trust
Series 2006-1, Class 2A1, 5.00%, 2/25/2021		12		12
Series 2006-4, Class 1A2, 6.00%, 8/25/2036		236		242
Citigroup Global Markets Mortgage Securities VII, Inc.
Series 2003-UP2, Class 1, PO, 12/25/2018 ‡		1		1
Series 2003-HYB1, Class A, 2.24%, 9/25/2033 (i)		200		209
Citigroup Mortgage Loan Trust
Series 2009-10, Class 1A1, 2.51%, 9/25/2033(a) (i)		804		812
Series 2015-A, Class B2, 4.50%, 6/25/2058(a) (i)		2,729		2,821
Citigroup Mortgage Loan Trust, Inc.
Series 2003-1, Class 3, PO, 9/25/2033 ‡		32		29
Series 2003-UP3, Class A3, 7.00%, 9/25/2033		22		22
Series 2003-1, Class 2, PO, 10/25/2033 ‡		2		2
Series 2003-1, Class 2A6, PO, 10/25/2033 ‡		11		10
Series 2003-1, Class 2A5, 5.25%, 10/25/2033		62		63
Series 2004-UST1, Class A6, 1.95%, 8/25/2034 (i)		49		47
Series 2005-1, Class 2A1A, 2.24%, 2/25/2035 (i)		154		148
Series 2005-2, Class 2A11, 5.50%, 5/25/2035		587		607
Series 2005-5, Class 1A2, 2.94%, 8/25/2035 (i)		457		387
Conix Mortgage Asset Trust Series 2013-1, Class A, 0.00%, 12/25/2047 ‡ (i) (l)		8,628		136
Credit Suisse First Boston Mortgage Securities Corp. (Switzerland)
Series 2004-5, Class 3A1, 5.25%, 8/25/2019		82		75
Series 2003-1, Class DB1, 6.70%, 2/25/2033 (i)		490		528
Series 2003-AR15, Class 3A1, 2.28%, 6/25/2033 (i)		130		135
Series 2003-21, Class 1A4, 5.25%, 9/25/2033		262		268
Series 2003-23, Class 1P, PO, 10/25/2033 ‡		271		225
CSFB Mortgage-Backed Pass-Through Certificates
Series 2003-27, Class 5A4, 5.25%, 11/25/2033		138		141
Series 2004-4, Class 2A4, 5.50%, 9/25/2034		196		206
Series 2004-8, Class 1A4, 5.50%, 12/25/2034		634		649
Series 2005-9, Class AP, PO, 10/25/2035 ‡		87		72
Series 2005-9, Class DX, IO, 5.50%, 10/25/2035 ‡		1,198		138
Series 2005-10, Class AP, PO, 11/25/2035 ‡		53		37
CSMC Trust
Series 2021-RPL1, Class A1, 1.67%, 9/27/2060 (a) (i)		27,378		27,267
Series 2021-JR2, Class A1, 2.22%, 11/25/2061 (a) (i)		35,105		34,961
CVS Pass-Through Trust Series 2009, 8.35%, 7/10/2031 (a)		5,020		6,499

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust Series 2005-1, Class 2A1, 4.33%, 2/25/2020(i)		48			48
FHLMC - GNMA
Series 8, Class ZA, 7.00%, 3/25/2023		7			7
Series 24, Class ZE, 6.25%, 11/25/2023		12			13
Series 29, Class L, 7.50%, 4/25/2024		89			93
FHLMC, Reference REMIC
Series R006, Class ZA, 6.00%, 4/15/2036		1,685			1,966
Series R007, Class ZA, 6.00%, 5/15/2036		2,217			2,559
FHLMC, REMIC
Series 1206, Class IA, 7.00%, 3/15/2022		—	(j)		—	(j)
Series 1250, Class J, 7.00%, 5/15/2022		—	(j)		—	(j)
Series 1343, Class LB, 7.50%, 8/15/2022		1			1
Series 1343, Class LA, 8.00%, 8/15/2022		2			2
Series 1370, Class JA, 1.24%, 9/15/2022 (i)		1			1
Series 2512, Class PG, 5.50%, 10/15/2022		44			45
Series 1455, Class WB, IF, 4.63%, 12/15/2022 (i)		2			2
Series 2535, Class BK, 5.50%, 12/15/2022		10			10
Series 1470, Class F, 1.24%, 2/15/2023 (i)		—	(j)		—	(j)
Series 1466, Class PZ, 7.50%, 2/15/2023		23			23
Series 2586, Class HD, 5.50%, 3/15/2023		220			225
Series 1498, Class I, 1.24%, 4/15/2023 (i)		16			16
Series 2595, Class HC, 5.50%, 4/15/2023		257			264
Series 1502, Class PX, 7.00%, 4/15/2023		23			24
Series 1491, Class I, 7.50%, 4/15/2023		5			5
Series 1798, Class F, 5.00%, 5/15/2023		25			26
Series 1505, Class Q, 7.00%, 5/15/2023		3			3
Series 1518, Class G, IF, 8.85%, 5/15/2023 (i)		11			12
Series 2033, Class J, 5.60%, 6/15/2023		43			44
Series 1541, Class O, 0.81%, 7/15/2023 (i)		12			12
Series 2638, Class DS, IF, 8.51%, 7/15/2023 (i)		16			17
Series 1541, Class M, HB, IF, 26.54%, 7/15/2023 (i)		3			3
Series 1570, Class F, 1.73%, 8/15/2023 (i)		1			1
Series 1608, Class L, 6.50%, 9/15/2023		95			100
Series 1573, Class PZ, 7.00%, 9/15/2023		21			22
Series 2571, Class SK, HB, IF, 34.12%, 9/15/2023 (i)		10			11
Series 1591, Class PV, 6.25%, 10/15/2023		12			13
Series 1602, Class SA, HB, IF, 22.46%, 10/15/2023 (i)		10			12
Series 2709, Class PG, 5.00%, 11/15/2023		394			407
Series 2710, Class HB, 5.50%, 11/15/2023		74			76
Series 1642, Class PJ, 6.00%, 11/15/2023		36			37
Series 2720, Class PC, 5.00%, 12/15/2023		39			40
Series 1983, Class Z, 6.50%, 12/15/2023		24			25
Series 2283, Class K, 6.50%, 12/15/2023		26			27
Series 1658, Class GZ, 7.00%, 1/15/2024		14			15
Series 1700, Class GA, PO, 2/15/2024		—	(j)		—	(j)
Series 1865, Class D, PO, 2/15/2024		26			26
Series 1671, Class L, 7.00%, 2/15/2024		7			8
Series 1671, Class QC, IF, 10.00%, 2/15/2024 (i)		10			10
Series 1686, Class SH, IF, 19.04%, 2/15/2024 (i)		1			2
Series 1699, Class FC, 0.69%, 3/15/2024 (i)		2			2
Series 1709, Class FA, 0.80%, 3/15/2024 (i)		1			1
Series 1695, Class EB, 7.00%, 3/15/2024		12			12
Series 1706, Class K, 7.00%, 3/15/2024		67			70
Series 2033, Class SN, HB, IF, 30.42%, 3/15/2024 (i)		8			1
Series 1720, Class PL, 7.50%, 4/15/2024		37			39
Series 2306, Class K, PO, 5/15/2024		12			12
Series 2306, Class SE, IF, IO, 8.95%, 5/15/2024 (i)		28			2
Series 1737, Class L, 6.00%, 6/15/2024		42			45
Series 1745, Class D, 7.50%, 8/15/2024		21			23

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 3614, Class QB, 4.00%, 12/15/2024		555			576
Series 2903, Class Z, 5.00%, 12/15/2024		134			143
Series 2967, Class S, HB, IF, 33.33%, 4/15/2025 (i)		46			54
Series 3684, Class CY, 4.50%, 6/15/2025		1,930			2,025
Series 3022, Class SX, IF, 16.65%, 8/15/2025 (i)		20			23
Series 3051, Class DP, HB, IF, 27.64%, 10/15/2025 (i)		65			83
Series 3793, Class AB, 3.50%, 1/15/2026		2,092			2,184
Series 1829, Class ZB, 6.50%, 3/15/2026		6			7
Series 1863, Class Z, 6.50%, 7/15/2026		47			49
Series 1890, Class H, 7.50%, 9/15/2026		11			12
Series 1899, Class ZE, 8.00%, 9/15/2026		34			39
Series 1927, Class ZA, 6.50%, 1/15/2027		47			52
Series 1927, Class PH, 7.50%, 1/15/2027		85			95
Series 1963, Class Z, 7.50%, 1/15/2027		33			37
Series 1935, Class FL, 0.79%, 2/15/2027 (i)		2			2
Series 1981, Class Z, 6.00%, 5/15/2027		65			70
Series 1970, Class PG, 7.25%, 7/15/2027		3			4
Series 1987, Class PE, 7.50%, 9/15/2027		32			35
Series 2019, Class Z, 6.50%, 12/15/2027		43			48
Series 2038, Class PN, IO, 7.00%, 3/15/2028		49			6
Series 2040, Class PE, 7.50%, 3/15/2028		132			150
Series 2054, Class PV, 7.50%, 5/15/2028		54			61
Series 2063, Class PG, 6.50%, 6/15/2028		75			84
Series 2064, Class TE, 7.00%, 6/15/2028		11			13
Series 2070, Class C, 6.00%, 7/15/2028		53			59
Series 2075, Class PM, 6.25%, 8/15/2028		179			198
Series 2075, Class PH, 6.50%, 8/15/2028		167			187
Series 2086, Class GB, 6.00%, 9/15/2028		26			29
Series 2089, Class PJ, IO, 7.00%, 10/15/2028		67			6
Series 2095, Class PE, 6.00%, 11/15/2028		135			150
Series 2106, Class ZD, 6.00%, 12/15/2028		277			308
Series 2388, Class FB, 0.69%, 1/15/2029 (i)		65			65
Series 2110, Class PG, 6.00%, 1/15/2029		358			399
Series 2125, Class JZ, 6.00%, 2/15/2029		81			89
Series 2126, Class CB, 6.25%, 2/15/2029		382			419
Series 2132, Class SB, HB, IF, 30.18%, 3/15/2029 (i)		10			15
Series 2141, IO, 7.00%, 4/15/2029		5			—	(j)
Series 2169, Class TB, 7.00%, 6/15/2029		364			412
Series 2163, Class PC, IO, 7.50%, 6/15/2029		27			3
Series 2172, Class QC, 7.00%, 7/15/2029		201			230
Series 2176, Class OJ, 7.00%, 8/15/2029		91			106
Series 2196, Class TL, 7.50%, 11/15/2029		—	(j)		1
Series 2201, Class C, 8.00%, 11/15/2029		66			74
Series 2204, Class GB, 8.00%, 12/20/2029 (i)		5			1
Series 2208, Class PG, 7.00%, 1/15/2030		174			202
Series 2209, Class TC, 8.00%, 1/15/2030		48			56
Series 2210, Class Z, 8.00%, 1/15/2030		178			210
Series 2224, Class CB, 8.00%, 3/15/2030		43			50
Series 3654, Class DC, 5.00%, 4/15/2030		6,098			6,755
Series 2230, Class Z, 8.00%, 4/15/2030		57			66
Series 2234, Class PZ, 7.50%, 5/15/2030		42			49
Series 2247, Class Z, 7.50%, 8/15/2030		44			51
Series 2256, Class MC, 7.25%, 9/15/2030		107			125
Series 2259, Class ZM, 7.00%, 10/15/2030		131			152
Series 2262, Class Z, 7.50%, 10/15/2030		10			12
Series 2271, Class PC, 7.25%, 12/15/2030		140			163
Series 2296, Class PD, 7.00%, 3/15/2031		79			91
Series 2313, Class LA, 6.50%, 5/15/2031		26			30
Series 2325, Class PM, 7.00%, 6/15/2031		51			59
Series 2359, Class ZB, 8.50%, 6/15/2031		152			182

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2332, Class ZH, 7.00%, 7/15/2031		153		179
Series 2344, Class ZD, 6.50%, 8/15/2031		892		1,017
Series 2344, Class ZJ, 6.50%, 8/15/2031		104		121
Series 2345, Class NE, 6.50%, 8/15/2031		69		80
Series 2351, Class PZ, 6.50%, 8/15/2031		78		89
Series 2367, Class ME, 6.50%, 10/15/2031		89		100
Series 2399, Class OH, 6.50%, 1/15/2032		107		120
Series 2399, Class TH, 6.50%, 1/15/2032		139		161
Series 2418, Class FO, 0.99%, 2/15/2032 (i)		265		268
Series 2410, Class OE, 6.38%, 2/15/2032		65		70
Series 2410, Class NG, 6.50%, 2/15/2032		152		176
Series 2420, Class XK, 6.50%, 2/15/2032		195		224
Series 2475, Class S, IF, IO, 7.91%, 2/15/2032 (i)		365		69
Series 2410, Class QX, IF, IO, 8.56%, 2/15/2032 (i)		75		13
Series 2412, Class SP, IF, 15.92%, 2/15/2032 (i)		183		236
Series 2410, Class QS, IF, 19.27%, 2/15/2032 (i)		191		265
Series 2423, Class TB, 6.50%, 3/15/2032		263		295
Series 2430, Class WF, 6.50%, 3/15/2032		224		260
Series 2423, Class MC, 7.00%, 3/15/2032		142		166
Series 2423, Class MT, 7.00%, 3/15/2032		175		205
Series 2444, Class ES, IF, IO, 7.86%, 3/15/2032 (i)		150		24
Series 2450, Class SW, IF, IO, 7.91%, 3/15/2032 (i)		98		16
Series 2434, Class ZA, 6.50%, 4/15/2032		469		524
Series 2435, Class CJ, 6.50%, 4/15/2032		353		405
Series 2441, Class GF, 6.50%, 4/15/2032		55		63
Series 2434, Class TC, 7.00%, 4/15/2032		306		358
Series 2436, Class MC, 7.00%, 4/15/2032		82		93
Series 2455, Class GK, 6.50%, 5/15/2032		175		198
Series 2450, Class GZ, 7.00%, 5/15/2032		164		194
Series 2458, Class ZM, 6.50%, 6/15/2032		144		161
Series 2466, Class DH, 6.50%, 6/15/2032		66		76
Series 2466, Class PH, 6.50%, 6/15/2032		197		227
Series 2474, Class NR, 6.50%, 7/15/2032		188		214
Series 2484, Class LZ, 6.50%, 7/15/2032		250		294
Series 3393, Class JO, PO, 9/15/2032		630		581
Series 2500, Class MC, 6.00%, 9/15/2032		244		280
Series 2835, Class QO, PO, 12/15/2032		30		28
Series 2571, Class FY, 0.84%, 12/15/2032 (i)		236		241
Series 2543, Class YX, 6.00%, 12/15/2032		431		491
Series 2544, Class HC, 6.00%, 12/15/2032		169		199
Series 2571, Class SY, IF, 18.39%, 12/15/2032 (i)		139		187
Series 2552, Class ME, 6.00%, 1/15/2033		290		334
Series 2567, Class QD, 6.00%, 2/15/2033		272		314
Series 2575, Class ME, 6.00%, 2/15/2033		1,115		1,272
Series 2596, Class QG, 6.00%, 3/15/2033		173		193
Series 2586, Class WI, IO, 6.50%, 3/15/2033		116		21
Series 2631, Class SA, IF, 14.69%, 6/15/2033 (i)		396		498
Series 2653, Class PZ, 5.00%, 7/15/2033		2,296		2,515
Series 2642, Class SL, IF, 6.76%, 7/15/2033 (i)		4		4
Series 2692, Class SC, IF, 13.11%, 7/15/2033 (i)		139		177
Series 4238, Class WY, 3.00%, 8/15/2033		3,357		3,549
Series 2671, Class S, IF, 14.59%, 9/15/2033 (i)		116		150
Series 2733, Class SB, IF, 7.93%, 10/15/2033 (i)		3,032		3,419
Series 2780, Class SY, IF, 16.30%, 11/15/2033 (i)		56		78
Series 2722, Class PF, 0.69%, 12/15/2033 (i)		915		928
Series 3920, Class LP, 5.00%, 1/15/2034		1,414		1,576
Series 2744, Class PE, 5.50%, 2/15/2034		11		11
Series 2802, Class OH, 6.00%, 5/15/2034		611		676

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2990, Class SL, HB, IF, 24.17%, 6/15/2034 (i)		126		143
Series 3611, PO, 7/15/2034		600		560
Series 3305, Class MG, IF, 2.31%, 7/15/2034 (i)		237		251
Series 2990, Class GO, PO, 2/15/2035		193		176
Series 2929, Class MS, HB, IF, 27.77%, 2/15/2035 (i)		246		336
Series 3077, Class TO, PO, 4/15/2035		190		185
Series 2968, Class EH, 6.00%, 4/15/2035		6,942		7,782
Series 2981, Class FA, 0.49%, 5/15/2035 (i)		296		298
Series 2988, Class AF, 0.39%, 6/15/2035 (i)		463		465
Series 2990, Class WP, IF, 16.80%, 6/15/2035 (i)		8		10
Series 3014, Class OD, PO, 8/15/2035		47		42
Series 3085, Class WF, 0.89%, 8/15/2035 (i)		289		295
Series 3029, Class SO, PO, 9/15/2035		127		123
Series 3064, Class SG, IF, 19.70%, 11/15/2035 (i)		197		259
Series 3101, Class UZ, 6.00%, 1/15/2036		696		806
Series 3102, Class HS, HB, IF, 24.24%, 1/15/2036 (i)		35		48
Series 3117, Class AO, PO, 2/15/2036		366		354
Series 3117, Class EO, PO, 2/15/2036		160		148
Series 3117, Class OG, PO, 2/15/2036		117		109
Series 3117, Class OK, PO, 2/15/2036		141		130
Series 3122, Class OH, PO, 3/15/2036		226		209
Series 3122, Class OP, PO, 3/15/2036		210		203
Series 3134, PO, 3/15/2036		37		35
Series 3122, Class ZB, 6.00%, 3/15/2036		25		36
Series 3138, PO, 4/15/2036		182		167
Series 3147, PO, 4/15/2036		427		413
Series 3607, Class AO, PO, 4/15/2036		375		339
Series 3607, Class BO, PO, 4/15/2036		688		639
Series 3137, Class XP, 6.00%, 4/15/2036		439		511
Series 3219, Class DI, IO, 6.00%, 4/15/2036		360		75
Series 3819, Class ZQ, 6.00%, 4/15/2036		3,656		4,261
Series 3149, Class SO, PO, 5/15/2036		103		92
Series 3151, PO, 5/15/2036		230		213
Series 3153, Class EO, PO, 5/15/2036		296		268
Series 3233, Class OP, PO, 5/15/2036		50		46
Series 3171, Class MO, PO, 6/15/2036		470		452
Series 3164, Class MG, 6.00%, 6/15/2036		114		123
Series 3523, Class SD, IF, 19.42%, 6/15/2036 (i)		125		159
Series 3179, Class OA, PO, 7/15/2036		128		115
Series 3181, Class AZ, 6.50%, 7/15/2036		451		530
Series 3195, Class PD, 6.50%, 7/15/2036		376		422
Series 3194, Class SA, IF, IO, 7.01%, 7/15/2036 (i)		60		12
Series 3200, PO, 8/15/2036		189		175
Series 3200, Class AY, 5.50%, 8/15/2036		855		982
Series 3645, Class KZ, 5.50%, 8/15/2036		305		348
Series 3202, Class HI, IF, IO, 6.56%, 8/15/2036 (i)		2,962		588
Series 3213, Class OA, PO, 9/15/2036		107		97
Series 3218, Class AO, PO, 9/15/2036		94		79
Series 3225, Class EO, PO, 10/15/2036		238		220
Series 3232, Class ST, IF, IO, 6.61%, 10/15/2036 (i)		278		54
Series 3704, Class DT, 7.50%, 11/15/2036		2,817		3,390
Series 3256, PO, 12/15/2036		124		114
Series 3704, Class CT, 7.00%, 12/15/2036		6,880		8,196
Series 3704, Class ET, 7.50%, 12/15/2036		2,459		2,990
Series 3261, Class OA, PO, 1/15/2037		127		116
Series 3260, Class CS, IF, IO, 6.05%, 1/15/2037 (i)		204		39
Series 3274, Class JO, PO, 2/15/2037		32		30
Series 3510, Class OD, PO, 2/15/2037		361		346
Series 3275, Class FL, 0.53%, 2/15/2037 (i)		207		209
Series 3274, Class B, 6.00%, 2/15/2037		267		300
Series 3286, PO, 3/15/2037		25		21
Series 3290, Class SB, IF, IO, 6.36%, 3/15/2037 (i)		373		75
Series 3443, Class SY, IF, 9.00%, 3/15/2037 (i)		116		139
Series 3373, Class TO, PO, 4/15/2037		130		120

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 3302, Class UT, 6.00%, 4/15/2037		345		401
Series 3316, PO, 5/15/2037		232		208
Series 3318, Class AO, PO, 5/15/2037		6		5
Series 3607, PO, 5/15/2037		1,279		1,154
Series 3315, Class HZ, 6.00%, 5/15/2037		340		388
Series 3326, Class JO, PO, 6/15/2037		22		21
Series 3331, PO, 6/15/2037		124		114
Series 3607, Class OP, PO, 7/15/2037		1,190		1,064
Series 4032, Class TO, PO, 7/15/2037		1,796		1,602
Series 4048, Class FJ, 0.49%, 7/15/2037 (i)		3,500		3,500
Series 3344, Class SL, IF, IO, 6.51%, 7/15/2037 (i)		287		47
Series 3365, PO, 9/15/2037		178		159
Series 3371, Class FA, 0.69%, 9/15/2037 (i)		90		92
Series 3387, Class SA, IF, IO, 6.33%, 11/15/2037 (i)		1,428		254
Series 3383, Class SA, IF, IO, 6.36%, 11/15/2037 (i)		917		176
Series 3404, Class SC, IF, IO, 5.91%, 1/15/2038 (i)		1,826		325
Series 3422, Class SE, IF, 17.23%, 2/15/2038 (i)		65		84
Series 3423, Class PB, 5.50%, 3/15/2038		1,539		1,756
Series 3424, Class PI, IF, IO, 6.71%, 4/15/2038 (i)		805		181
Series 3453, Class B, 5.50%, 5/15/2038		96		109
Series 3461, Class LZ, 6.00%, 6/15/2038		69		79
Series 3461, Class Z, 6.00%, 6/15/2038		2,053		2,339
Series 3455, Class SE, IF, IO, 6.11%, 6/15/2038 (i)		676		106
Series 3481, Class SJ, IF, IO, 5.76%, 8/15/2038 (i)		1,233		224
Series 3895, Class WA, 5.70%, 10/15/2038 (i)		475		541
Series 3501, Class CB, 5.50%, 1/15/2039		951		1,081
Series 3546, Class A, 1.64%, 2/15/2039 (i)		384		398
Series 3511, Class SA, IF, IO, 5.91%, 2/15/2039 (i)		536		94
Series 4095, Class FB, 0.49%, 4/15/2039 (i)		66		66
Series 3531, Class SM, IF, IO, 6.01%, 5/15/2039 (i)		98		16
Series 3531, Class SA, IF, IO, 6.21%, 5/15/2039 (i)		601		47
Series 3549, Class FA, 1.29%, 7/15/2039 (i)		125		128
Series 3680, Class MA, 4.50%, 7/15/2039		1,028		1,061
Series 3607, Class TO, PO, 10/15/2039		643		584
Series 3795, Class EI, IO, 5.00%, 10/15/2039		648		29
Series 3608, Class SC, IF, IO, 6.16%, 12/15/2039 (i)		563		88
Series 3621, Class BO, PO, 1/15/2040		559		517
Series 3802, Class LS, IF, IO, 1.62%, 1/15/2040 (i)		3,298		147
Series 3632, Class BS, IF, 17.20%, 2/15/2040 (i)		1,782		2,366
Series 3966, Class BF, 0.59%, 10/15/2040 (i)		200		200
Series 3740, Class SB, IF, IO, 5.91%, 10/15/2040 (i)		1,390		200
Series 3740, Class SC, IF, IO, 5.91%, 10/15/2040 (i)		1,266		237
Series 3779, Class GZ, 4.50%, 12/15/2040		7,573		7,977
Series 3779, Class Z, 4.50%, 12/15/2040		18,763		20,375
Series 3860, Class PZ, 5.00%, 5/15/2041		12,450		14,112
Series 3852, Class QN, IF, 5.50%, 5/15/2041 (i)		1,072		1,156
Series 3852, Class TP, IF, 5.50%, 5/15/2041 (i)		2,486		2,693
Series 4048, Class FB, 0.49%, 10/15/2041 (i)		2,635		2,648
Series 3957, Class B, 4.00%, 11/15/2041		1,665		1,807
Series 3966, Class NA, 4.00%, 12/15/2041		1,551		1,699
Series 4012, Class FN, 0.59%, 3/15/2042 (i)		4,276		4,321
Series 4077, Class FB, 0.59%, 7/15/2042 (i)		1,819		1,844
Series 4217, Class KY, 3.00%, 6/15/2043		1,794		1,912
Series 4257, Class DZ, 2.50%, 10/15/2043		5,992		6,108
Series 3688, Class GT, 7.45%, 11/15/2046 (i)		3,534		4,153
Series 4809, Class ZM, 4.00%, 7/15/2048		34,386		36,674
Series 4837, Class ZB, 4.00%, 10/15/2048		9,362		10,162
FHLMC, STRIPS
Series 197, PO, 4/1/2028		289		278
Series 233, Class 11, IO, 5.00%, 9/15/2035		621		113
Series 233, Class 12, IO, 5.00%, 9/15/2035		528		77

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 233, Class 13, IO, 5.00%, 9/15/2035		1,010			182
Series 239, Class S30, IF, IO, 7.61%, 8/15/2036 (i)		1,852			463
Series 264, Class F1, 0.64%, 7/15/2042 (i)		7,596			7,751
Series 262, Class 35, 3.50%, 7/15/2042		19,612			21,027
Series 270, Class F1, 0.59%, 8/15/2042 (i)		2,789			2,858
Series 299, Class 300, 3.00%, 1/15/2043		1,568			1,616
Series 310, PO, 9/15/2043		4,512			3,913
FHLMC, Structured Pass-Through Certificates, Whole Loan
Series T-41, Class 3A, 4.76%, 7/25/2032 (i)		382			420
Series T-48, Class 1A, 4.62%, 7/25/2033 (i)		1,142			1,238
Series T-76, Class 2A, 1.60%, 10/25/2037 (i)		7,087			6,871
Series T-42, Class A5, 7.50%, 2/25/2042		1,565			1,890
Series T-51, Class 2A, 7.50%, 8/25/2042 (i)		286			372
Series T-54, Class 2A, 6.50%, 2/25/2043		1,715			2,019
Series T-54, Class 3A, 7.00%, 2/25/2043		547			652
Series T-56, Class A5, 5.23%, 5/25/2043		3,721			4,199
Series T-57, Class 1AP, PO, 7/25/2043		138			119
Series T-57, Class 1A3, 7.50%, 7/25/2043		365			455
Series T-58, Class A, PO, 9/25/2043		150			125
Series T-58, Class 4A, 7.50%, 9/25/2043		2,042			2,359
Series T-59, Class 1AP, PO, 10/25/2043		177			121
Series T-59, Class 1A2, 7.00%, 10/25/2043		2,039			2,382
Series T-62, Class 1A1, 1.28%, 10/25/2044 (i)		2,420			2,478
First Horizon Alternative Mortgage Securities Trust
Series 2005-FA8, Class 1A19, 5.50%, 11/25/2035		549			386
Series 2007-FA4, Class 1A2, IF, IO, 5.56%, 8/25/2037 ‡ (i)		5,330			1,142
FMC GMSR Issuer Trust 3.69%, 2/25/2024		116,200			113,875
Series 2020-GT1, Class A, 4.45%, 1/25/2026 (a) (i)		56,650			56,781
Series 2021-GT1, Class A, 3.62%, 7/25/2026 (a) (i)		43,050			42,663
Series 2021-GT2, Class A, 3.85%, 10/25/2026 (a) (i)		51,910			51,838
FNMA Trust, Whole Loan
Series 2004-W1, Class 2A2, 7.00%, 12/25/2033		1,395			1,616
Series 2003-W8, Class 3F1, 0.49%, 5/25/2042 (i)		191			191
Series 2003-W2, Class 2A9, 5.90%, 7/25/2042		357			405
Series 2003-W2, Class 1A1, 6.50%, 7/25/2042		620			712
Series 2003-W6, Class 2A4, 5.20%, 9/25/2042		2,229			2,437
Series 2003-W6, Class 3A, 6.50%, 9/25/2042		805			922
Series 2003-W8, Class 2A, 7.00%, 10/25/2042		873			997
Series 2004-W2, Class 2A2, 7.00%, 2/25/2044		264			306
Series 2004-W8, Class 3A, 7.50%, 6/25/2044		246			289
Series 2004-W15, Class 2AF, 0.34%, 8/25/2044 (i)		788			784
Series 2005-W3, Class 2AF, 0.31%, 3/25/2045 (i)		6,467			6,444
Series 2005-W4, Class 1A1, 6.00%, 8/25/2045		361			408
Series 2006-W2, Class 2A, 2.37%, 11/25/2045 (i)		899			946
Series 2006-W2, Class 1AF1, 0.31%, 2/25/2046 (i)		2,841			2,840
FNMA, Grantor Trust, Whole Loan
Series 1999-T2, Class A1, 7.50%, 1/19/2039 (i)		400			429
Series 2001-T3, Class A1, 7.50%, 11/25/2040		658			727
Series 2002-T4, Class A1, 6.50%, 12/25/2041		7,812			8,908
Series 2002-T16, Class A2, 7.00%, 7/25/2042		775			918
Series 2004-T2, Class 2A, 3.39%, 7/25/2043 (i)		591			616
Series 2004-T2, Class 1A4, 7.50%, 11/25/2043		1,275			1,464
Series 2004-T1, Class 1A2, 6.50%, 1/25/2044		144			166
Series 2004-T3, Class PT1, 10.37%, 1/25/2044 (i)		154			184
Series 2004-T3, Class 1A2, 6.50%, 2/25/2044		1,941			2,232
Series 2004-T3, Class 1A3, 7.00%, 2/25/2044		790			923
FNMA, REMIC
Series 2002-5, Class PK, 6.00%, 2/25/2022		3			3
Series 2002-1, Class HC, 6.50%, 2/25/2022		—	(j)		—	(j)
Series 2007-15, Class NO, PO, 3/25/2022		—	(j)		—	(j)
Series 1992-101, Class J, 7.50%, 6/25/2022		—	(j)		—	(j)

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series G92-42, Class Z, 7.00%, 7/25/2022		—	(j)		—	(j)
Series G92-35, Class E, 7.50%, 7/25/2022		2			2
Series 1992-117, Class MA, 8.00%, 7/25/2022		8			8
Series G92-35, Class G, HB, 1,184.78%, 7/25/2022		—	(j)		—	(j)
Series 1992-136, Class PK, 6.00%, 8/25/2022		1			1
Series 1996-59, Class J, 6.50%, 8/25/2022		2			2
Series G92-52, Class FD, 0.11%, 9/25/2022 (i)		—	(j)		—	(j)
Series 1992-143, Class MA, 5.50%, 9/25/2022		1			1
Series 2002-54, Class PG, 6.00%, 9/25/2022		50			51
Series G92-54, Class ZQ, 7.50%, 9/25/2022		—	(j)		—	(j)
Series 1992-163, Class M, 7.75%, 9/25/2022		2			2
Series 1992-150, Class M, 8.00%, 9/25/2022		8			9
Series G92-62, Class B, PO, 10/25/2022		1			1
Series G92-59, Class F, 0.92%, 10/25/2022 (i)		—	(j)		—	(j)
Series G92-61, Class Z, 7.00%, 10/25/2022		1			1
Series 1992-188, Class PZ, 7.50%, 10/25/2022		7			7
Series G93-1, Class KA, 7.90%, 1/25/2023		4			4
Series G93-5, Class Z, 6.50%, 2/25/2023		3			3
Series 1997-61, Class ZC, 7.00%, 2/25/2023		32			33
Series 1993-27, Class SA, IF, 15.50%, 2/25/2023 (i)		1			1
Series 2003-17, Class EQ, 5.50%, 3/25/2023		138			141
Series G93-14, Class J, 6.50%, 3/25/2023		2			2
Series 1993-37, Class PX, 7.00%, 3/25/2023		26			26
Series 1993-25, Class J, 7.50%, 3/25/2023		9			10
Series 1993-21, Class KA, 7.70%, 3/25/2023		4			4
Series 1998-4, Class C, PO, 4/25/2023		2			2
Series 2003-23, Class EQ, 5.50%, 4/25/2023		272			277
Series G93-17, Class SI, IF, 6.00%, 4/25/2023 (i)		5			5
Series 1993-54, Class Z, 7.00%, 4/25/2023		9			9
Series 1998-43, Class SA, IF, IO, 18.87%, 4/25/2023 (i)		6			1
Series 1993-62, Class SA, HB, IF, 20.01%, 4/25/2023 (i)		4			4
Series 2003-39, Class LW, 5.50%, 5/25/2023		72			74
Series 1993-56, Class PZ, 7.00%, 5/25/2023		106			110
Series 2008-47, Class SI, IF, IO, 6.41%, 6/25/2023 (i)		—	(j)		—	(j)
Series 2008-61, Class BH, 4.50%, 7/25/2023		76			77
Series 1993-136, Class ZB, 6.00%, 7/25/2023 (i)		56			58
Series 1993-122, Class M, 6.50%, 7/25/2023		2			2
Series 1993-99, Class Z, 7.00%, 7/25/2023		60			62
Series 2002-1, Class G, 7.00%, 7/25/2023		36			37
Series G93-27, Class FD, 0.97%, 8/25/2023 (i)		4			4
Series 2002-83, Class CS, 6.88%, 8/25/2023		53			55
Series 1993-141, Class Z, 7.00%, 8/25/2023		90			93
Series 1999-38, Class SK, IF, IO, 7.96%, 8/25/2023 (i)		—	(j)		—	(j)
Series 1996-14, Class SE, IF, IO, 9.10%, 8/25/2023 (i)		48			3
Series 1993-205, Class H, PO, 9/25/2023		4			4
Series G93-37, Class H, PO, 9/25/2023		1			1
Series 1993-178, Class PK, 6.50%, 9/25/2023		5			5
Series 1993-165, Class SK, IF, 12.50%, 9/25/2023 (i)		4			4
Series 1993-165, Class SD, IF, 14.38%, 9/25/2023 (i)		3			3
Series 1993-183, Class KA, 6.50%, 10/25/2023		79			83
Series 1993-189, Class PL, 6.50%, 10/25/2023		29			30
Series 1993-179, Class SC, IF, 10.50%, 10/25/2023 (i)		2			2
Series 1999-52, Class NS, HB, IF, 23.12%, 10/25/2023 (i)		5			6
Series 1993-179, Class SB, HB, IF, 28.77%, 10/25/2023 (i)		3			3
Series 1994-9, Class E, PO, 11/25/2023		—	(j)		—	(j)
Series 1995-19, Class Z, 6.50%, 11/25/2023		31			33
Series 1993-230, Class FA, 0.69%, 12/25/2023 (i)		3			3

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 1993-247, Class FE, 1.09%, 12/25/2023 (i)		7		7
Series 1993-225, Class UB, 6.50%, 12/25/2023		9		9
Series 1993-247, Class SU, IF, 12.72%, 12/25/2023 (i)		3		3
Series 2002-1, Class UD, HB, IF, 24.18%, 12/25/2023 (i)		7		8
Series 1993-247, Class SA, HB, IF, 30.02%, 12/25/2023 (i)		9		9
Series 1994-37, Class L, 6.50%, 3/25/2024		28		29
Series 1994-40, Class Z, 6.50%, 3/25/2024		177		187
Series 1994-62, Class PK, 7.00%, 4/25/2024		274		287
Series 1994-63, Class PK, 7.00%, 4/25/2024		116		122
Series 2004-53, Class NC, 5.50%, 7/25/2024		21		22
Series 2004-65, Class EY, 5.50%, 8/25/2024		290		301
Series 2004-81, Class JG, 5.00%, 11/25/2024		484		503
Series 1995-2, Class Z, 8.50%, 1/25/2025		7		7
Series G95-1, Class C, 8.80%, 1/25/2025		16		18
Series 2005-67, Class EY, 5.50%, 8/25/2025		427		454
Series 2005-121, Class DX, 5.50%, 1/25/2026		232		244
Series 2006-94, Class GK, HB, IF, 32.79%, 10/25/2026 (i)		66		87
Series 1996-48, Class Z, 7.00%, 11/25/2026		71		76
Series 1997-20, IO, 1.84%, 3/25/2027 (i)		16		—	(j)
Series 1997-20, Class IB, IO, 1.84%, 3/25/2027 (i)		7		—	(j)
Series 1997-27, Class J, 7.50%, 4/18/2027		24		27
Series 1997-29, Class J, 7.50%, 4/20/2027		34		38
Series 1997-32, Class PG, 6.50%, 4/25/2027		76		84
Series 1997-39, Class PD, 7.50%, 5/20/2027		114		127
Series 1997-42, Class ZC, 6.50%, 7/18/2027		6		6
Series 1997-81, Class PI, IO, 7.00%, 12/18/2027		32		2
Series 1998-36, Class ZB, 6.00%, 7/18/2028		37		41
Series 2008-55, Class S, IF, IO, 7.51%, 7/25/2028 (i)		1,086		129
Series 1998-66, Class SB, IF, IO, 8.06%, 12/25/2028 (i)		2		—	(j)
Series 2009-11, Class NB, 5.00%, 3/25/2029		685		721
Series 1999-18, Class Z, 5.50%, 4/18/2029		42		46
Series 1999-17, Class C, 6.35%, 4/25/2029		23		26
Series 1999-62, Class PB, 7.50%, 12/18/2029		36		41
Series 2000-2, Class ZE, 7.50%, 2/25/2030		206		237
Series 2000-20, Class SA, IF, IO, 9.01%, 7/25/2030 (i)		52		5
Series 2000-52, IO, 8.50%, 1/25/2031		12		2
Series 2001-7, Class PF, 7.00%, 3/25/2031		28		33
Series 2011-31, Class DB, 3.50%, 4/25/2031		4,368		4,652
Series 2001-33, Class ID, IO, 6.00%, 7/25/2031		155		21
Series 2001-30, Class PM, 7.00%, 7/25/2031		86		98
Series 2001-36, Class DE, 7.00%, 8/25/2031		170		197
Series 2001-49, Class Z, 6.50%, 9/25/2031		42		48
Series 2001-44, Class MY, 7.00%, 9/25/2031		220		258
Series 2001-44, Class PD, 7.00%, 9/25/2031		39		46
Series 2001-44, Class PU, 7.00%, 9/25/2031		32		38
Series 2001-60, Class QS, HB, IF, 24.18%, 9/25/2031 (i)		123		158
Series 2001-52, Class KB, 6.50%, 10/25/2031		30		34
Series 2003-52, Class SX, HB, IF, 22.67%, 10/25/2031 (i)		67		93
Series 2001-60, Class PX, 6.00%, 11/25/2031		270		306
Series 2001-61, Class Z, 7.00%, 11/25/2031		306		360
Series 2004-74, Class SW, IF, 15.32%, 11/25/2031 (i)		88		109
Series 2001-72, Class SX, IF, 17.25%, 12/25/2031 (i)		9		11
Series 2001-81, Class LO, PO, 1/25/2032		10		10
Series 2002-1, Class SA, HB, IF, 24.89%, 2/25/2032 (i)		23		32
Series 2002-13, Class SJ, IF, IO, 1.60%, 3/25/2032 (i)		256		9
Series 2002-13, Class ST, IF, 10.00%, 3/25/2032 (i)		3		4
Series 2002-21, Class LO, PO, 4/25/2032		9		9
Series 2002-15, Class ZA, 6.00%, 4/25/2032		691		774

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2002-21, Class PE, 6.50%, 4/25/2032		125		144
Series 2002-28, Class PK, 6.50%, 5/25/2032		250		288
Series 2002-37, Class Z, 6.50%, 6/25/2032		116		132
Series 2006-130, Class GI, IO, 6.50%, 7/25/2032		466		62
Series 2002-48, Class GH, 6.50%, 8/25/2032		311		362
Series 2002-71, Class AP, 5.00%, 11/25/2032		58		63
Series 2011-39, Class ZA, 6.00%, 11/25/2032		2,058		2,345
Series 2004-61, Class SK, IF, 8.50%, 11/25/2032 (i)		98		113
Series 2004-61, Class SH, HB, IF, 23.62%, 11/25/2032 (i)		36		53
Series 2004-59, Class BG, PO, 12/25/2032		56		53
Series 2002-78, Class Z, 5.50%, 12/25/2032		648		737
Series 2002-77, Class S, IF, 14.31%, 12/25/2032 (i)		46		57
Series 2003-9, Class NZ, 6.50%, 2/25/2033		111		128
Series 2003-14, Class TI, IO, 5.00%, 3/25/2033		95		6
Series 2003-22, Class UD, 4.00%, 4/25/2033		1,106		1,198
Series 2003-35, Class EA, PO, 5/25/2033		37		34
Series 2003-42, Class GB, 4.00%, 5/25/2033		76		83
Series 2003-34, Class AX, 6.00%, 5/25/2033		160		184
Series 2003-34, Class ED, 6.00%, 5/25/2033		826		947
Series 2003-34, Class GE, 6.00%, 5/25/2033		433		493
Series 2003-39, IO, 6.00%, 5/25/2033 (i)		50		8
Series 2003-33, Class IA, IO, 6.50%, 5/25/2033		468		94
Series 2007-97, Class KI, IO, 7.00%, 5/25/2033		854		85
Series 2003-47, Class PE, 5.75%, 6/25/2033		334		377
Series 2004-4, Class QI, IF, IO, 7.01%, 6/25/2033 (i)		80		2
Series 2004-4, Class QM, IF, 14.02%, 6/25/2033 (i)		60		62
Series 2003-64, Class SX, IF, 13.53%, 7/25/2033 (i)		116		141
Series 2003-132, Class OA, PO, 8/25/2033		16		16
Series 2003-72, Class IE, IO, 5.50%, 8/25/2033		1,066		171
Series 2003-73, Class HC, 5.50%, 8/25/2033		551		627
Series 2003-71, Class DS, IF, 7.35%, 8/25/2033 (i)		552		598
Series 2003-74, Class SH, IF, 10.00%, 8/25/2033 (i)		76		86
Series 2005-56, Class TP, IF, 17.87%, 8/25/2033 (i)		115		135
Series 2003-91, Class SD, IF, 12.35%, 9/25/2033 (i)		89		104
Series 2013-100, Class WB, 3.00%, 10/25/2033		7,887		8,227
Series 2003-105, Class AZ, 5.50%, 10/25/2033		4,057		4,612
Series 2003-116, Class SB, IF, IO, 7.51%, 11/25/2033 (i)		610		112
Series 2006-44, Class P, PO, 12/25/2033		493		458
Series 2003-122, Class ZJ, 6.00%, 12/25/2033		3,317		3,847
Series 2004-87, Class F, 0.84%, 1/25/2034 (i)		705		720
Series 2003-130, Class SX, IF, 11.38%, 1/25/2034 (i)		14		16
Series 2003-131, Class SK, IF, 16.02%, 1/25/2034 (i)		31		33
Series 2004-46, Class EP, PO, 3/25/2034		444		436
Series 2004-28, Class PF, 0.49%, 3/25/2034 (i)		407		409
Series 2004-17, Class H, 5.50%, 4/25/2034		1,244		1,429
Series 2004-25, Class SA, IF, 19.27%, 4/25/2034 (i)		235		324
Series 2004-36, Class FA, 0.49%, 5/25/2034 (i)		1,236		1,242
Series 2004-46, Class SK, IF, 16.25%, 5/25/2034 (i)		63		80
Series 2004-36, Class SA, IF, 19.27%, 5/25/2034 (i)		528		750
Series 2004-46, Class QB, HB, IF, 23.63%, 5/25/2034 (i)		107		157
Series 2004-50, Class VZ, 5.50%, 7/25/2034		2,048		2,298
Series 2004-51, Class SY, IF, 14.06%, 7/25/2034 (i)		78		91
Series 2005-93, Class MF, 0.34%, 8/25/2034 (i)		94		94
Series 2005-25, Class PF, 0.44%, 4/25/2035 (i)		624		628
Series 2005-42, Class PS, IF, 16.77%, 5/25/2035 (i)		25		30
Series 2005-74, Class CS, IF, 19.77%, 5/25/2035 (i)		425		506
Series 2005-74, Class SK, IF, 19.88%, 5/25/2035 (i)		292		350
Series 2005-74, Class CP, HB, IF, 24.41%, 5/25/2035 (i)		97		118

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2005-59, Class SU, HB, IF, 25.04%, 6/25/2035 (i)		164		251
Series 2005-56, Class S, IF, IO, 6.62%, 7/25/2035 (i)		342		65
Series 2005-66, Class SG, IF, 17.15%, 7/25/2035(i)		177		244
Series 2005-68, Class PG, 5.50%, 8/25/2035		493		553
Series 2005-73, Class ZB, 5.50%, 8/25/2035		3,488		3,968
Series 2005-73, Class PS, IF, 16.47%, 8/25/2035 (i)		193		247
Series 2005-72, Class SB, IF, 16.64%, 8/25/2035 (i)		152		197
Series 2005-90, PO, 9/25/2035		47		46
Series 2005-75, Class SV, HB, IF, 23.83%, 9/25/2035 (i)		42		59
Series 2010-39, Class OT, PO, 10/25/2035		128		122
Series 2005-84, Class XM, 5.75%, 10/25/2035		411		458
Series 2005-90, Class ES, IF, 16.64%, 10/25/2035 (i)		191		253
Series 2005-106, Class US, HB, IF, 24.23%, 11/25/2035 (i)		891		1,225
Series 2005-110, Class GL, 5.50%, 12/25/2035		2,629		2,956
Series 2006-46, Class UC, 5.50%, 12/25/2035		170		180
Series 2005-109, Class PC, 6.00%, 12/25/2035		68		75
Series 2006-39, Class WC, 5.50%, 1/25/2036		111		117
Series 2006-16, Class OA, PO, 3/25/2036		92		86
Series 2006-8, Class WQ, PO, 3/25/2036		1,039		931
Series 2006-12, Class BZ, 5.50%, 3/25/2036		1,137		1,284
Series 2006-16, Class HZ, 5.50%, 3/25/2036		283		320
Series 2006-8, Class JZ, 5.50%, 3/25/2036		1,346		1,551
Series 2006-8, Class WN, IF, IO, 6.61%, 3/25/2036 (i)		3,810		765
Series 2006-11, Class PS, HB, IF, 24.23%, 3/25/2036 (i)		97		151
Series 2006-22, Class AO, PO, 4/25/2036		336		312
Series 2006-23, Class KO, PO, 4/25/2036		111		107
Series 2006-27, Class OH, PO, 4/25/2036		212		198
Series 2006-23, Class FK, 0.34%, 4/25/2036 (i)		582		583
Series 2006-33, Class LS, HB, IF, 29.74%, 5/25/2036 (i)		103		155
Series 2006-43, PO, 6/25/2036		87		83
Series 2006-43, Class DO, PO, 6/25/2036		270		247
Series 2006-44, Class GO, PO, 6/25/2036		178		165
Series 2006-50, Class JO, PO, 6/25/2036		651		600
Series 2006-50, Class PS, PO, 6/25/2036		756		723
Series 2006-46, Class FW, 0.49%, 6/25/2036 (i)		194		195
Series 2006-53, Class US, IF, IO, 6.49%, 6/25/2036 (i)		733		134
Series 2006-46, Class SW, HB, IF, 23.86%, 6/25/2036 (i)		31		48
Series 2006-58, PO, 7/25/2036		107		99
Series 2006-58, Class AP, PO, 7/25/2036		54		49
Series 2006-65, Class QO, PO, 7/25/2036		205		192
Series 2006-56, Class FC, 0.38%, 7/25/2036 (i)		1,742		1,749
Series 2006-58, Class FL, 0.55%, 7/25/2036 (i)		173		175
Series 2006-71, Class ZL, 6.00%, 7/25/2036		2,229		2,573
Series 2006-58, Class IG, IF, IO, 6.43%, 7/25/2036 (i)		256		44
Series 2006-63, Class ZH, 6.50%, 7/25/2036		1,064		1,255
Series 2011-19, Class ZY, 6.50%, 7/25/2036		1,410		1,660
Series 2006-60, Class AK, HB, IF, 28.43%, 7/25/2036 (i)		109		153
Series 2006-62, Class PS, HB, IF, 39.35%, 7/25/2036 (i)		76		143
Series 2006-72, Class GO, PO, 8/25/2036		365		350
Series 2006-72, Class TO, PO, 8/25/2036		64		58
Series 2006-79, Class DO, PO, 8/25/2036		146		140
Series 2006-79, Class OP, PO, 8/25/2036		214		192
Series 2006-79, Class DF, 0.44%, 8/25/2036 (i)		618		621
Series 2007-7, Class SG, IF, IO, 6.41%, 8/25/2036 (i)		810		203
Series 2006-77, Class PC, 6.50%, 8/25/2036		582		662
Series 2006-78, Class BZ, 6.50%, 8/25/2036		94		111
Series 2006-86, Class OB, PO, 9/25/2036		202		186
Series 2006-90, Class AO, PO, 9/25/2036		161		151
Series 2008-42, Class AO, PO, 9/25/2036		83		76

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2006-85, Class MZ, 6.50%, 9/25/2036		58		69
Series 2009-19, Class PW, 4.50%, 10/25/2036		930		1,027
Series 2006-95, Class SG, HB, IF, 25.83%, 10/25/2036 (i)		118		186
Series 2006-109, PO, 11/25/2036		54		49
Series 2006-110, PO, 11/25/2036		296		274
Series 2006-111, Class EO, PO, 11/25/2036		163		148
Series 2006-115, Class OK, PO, 12/25/2036		185		167
Series 2006-119, PO, 12/25/2036		84		80
Series 2006-118, Class A1, 0.15%, 12/25/2036 (i)		325		323
Series 2006-118, Class A2, 0.15%, 12/25/2036 (i)		1,335		1,323
Series 2006-117, Class GS, IF, IO, 6.56%, 12/25/2036 (i)		569		84
Series 2006-115, Class ES, HB, IF, 26.19%, 12/25/2036 (i)		23		34
Series 2006-128, PO, 1/25/2037		182		167
Series 2009-70, Class CO, PO, 1/25/2037		515		472
Series 2006-128, Class BP, 5.50%, 1/25/2037		86		94
Series 2007-10, Class FD, 0.34%, 2/25/2037 (i)		361		362
Series 2007-1, Class SD, HB, IF, 38.45%, 2/25/2037 (i)		73		227
Series 2007-14, Class OP, PO, 3/25/2037		144		135
Series 2007-77, Class FG, 0.59%, 3/25/2037 (i)		340		345
Series 2007-16, Class FC, 0.84%, 3/25/2037 (i)		217		227
Series 2009-63, Class P, 5.00%, 3/25/2037		20		22
Series 2007-22, Class SC, IF, IO, 5.99%, 3/25/2037 (i)		25		1
Series 2007-18, Class MZ, 6.00%, 3/25/2037		353		394
Series 2007-14, Class ES, IF, IO, 6.35%, 3/25/2037 (i)		1,218		212
Series 2007-28, Class EO, PO, 4/25/2037		491		448
Series 2007-35, Class SI, IF, IO, 6.01%, 4/25/2037 (i)		422		44
Series 2007-29, Class SG, HB, IF, 22.36%, 4/25/2037 (i)		235		333
Series 2007-42, Class AO, PO, 5/25/2037		39		36
Series 2007-43, Class FL, 0.39%, 5/25/2037 (i)		247		248
Series 2007-42, Class B, 6.00%, 5/25/2037		687		795
Series 2007-98, Class FB, 0.54%, 6/25/2037 (i)		127		132
Series 2007-92, Class YS, IF, IO, 5.69%, 6/25/2037 (i)		215		36
Series 2007-53, Class SH, IF, IO, 6.01%, 6/25/2037 (i)		770		133
Series 2007-54, Class WI, IF, IO, 6.01%, 6/25/2037 (i)		247		47
Series 2007-92, Class YA, 6.50%, 6/25/2037		129		151
Series 2007-67, PO, 7/25/2037		334		308
Series 2007-97, Class FC, 0.59%, 7/25/2037 (i)		202		205
Series 2007-70, Class Z, 5.50%, 7/25/2037		753		852
Series 2007-72, Class EK, IF, IO, 6.31%, 7/25/2037 (i)		2,246		418
Series 2007-65, Class KI, IF, IO, 6.53%, 7/25/2037 (i)		792		136
Series 2007-60, Class AX, IF, IO, 7.06%, 7/25/2037 (i)		3,669		894
Series 2007-62, Class SE, IF, 16.27%, 7/25/2037 (i)		155		199
Series 2007-76, Class AZ, 5.50%, 8/25/2037		226		256
Series 2007-76, Class ZG, 6.00%, 8/25/2037		232		269
Series 2007-78, Class CB, 6.00%, 8/25/2037		76		88
Series 2007-78, Class PE, 6.00%, 8/25/2037		175		203
Series 2007-81, Class GE, 6.00%, 8/25/2037		410		469
Series 2007-79, Class SB, HB, IF, 23.68%, 8/25/2037 (i)		332		518
Series 2007-88, Class VI, IF, IO, 6.45%, 9/25/2037 (i)		1,151		239
Series 2007-85, Class SL, IF, 15.92%, 9/25/2037 (i)		68		88
Series 2009-86, Class OT, PO, 10/25/2037		3,073		2,788
Series 2007-100, Class SM, IF, IO, 6.36%, 10/25/2037 (i)		770		150
Series 2007-91, Class ES, IF, IO, 6.37%, 10/25/2037 (i)		1,168		239
Series 2007-108, Class SA, IF, IO, 6.27%, 12/25/2037 (i)		44		5
Series 2007-109, Class AI, IF, IO, 6.31%, 12/25/2037 (i)		1,064		149
Series 2007-112, Class SA, IF, IO, 6.36%, 12/25/2037 (i)		1,202		257
Series 2007-112, Class MJ, 6.50%, 12/25/2037		922		1,089

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2007-116, Class HI, IO, 1.30%, 1/25/2038 (i)		2,001		88
Series 2008-1, Class BI, IF, IO, 5.82%, 2/25/2038 (i)		965		179
Series 2008-4, Class SD, IF, IO, 5.91%, 2/25/2038 (i)		2,402		369
Series 2008-18, Class FA, 0.99%, 3/25/2038 (i)		240		246
Series 2008-16, Class IS, IF, IO, 6.11%, 3/25/2038 (i)		285		46
Series 2008-10, Class XI, IF, IO, 6.14%, 3/25/2038 (i)		385		69
Series 2008-20, Class SA, IF, IO, 6.90%, 3/25/2038 (i)		472		93
Series 2008-18, Class SP, IF, 13.82%, 3/25/2038 (i)		145		167
Series 2008-32, Class SA, IF, IO, 6.76%, 4/25/2038 (i)		153		21
Series 2008-27, Class SN, IF, IO, 6.81%, 4/25/2038 (i)		420		71
Series 2008-28, Class QS, HB, IF, 20.42%, 4/25/2038 (i)		170		229
Series 2008-44, PO, 5/25/2038		11		9
Series 2008-46, Class HI, IO, 1.61%, 6/25/2038 (i)		718		47
Series 2008-56, Class AC, 5.00%, 7/25/2038		204		227
Series 2008-60, Class JC, 5.00%, 7/25/2038		265		297
Series 2011-47, Class ZA, 5.50%, 7/25/2038		1,064		1,216
Series 2008-53, Class CI, IF, IO, 7.11%, 7/25/2038 (i)		286		52
Series 2008-80, Class SA, IF, IO, 5.76%, 9/25/2038 (i)		960		169
Series 2008-81, Class SB, IF, IO, 5.76%, 9/25/2038 (i)		824		132
Series 2009-4, Class BD, 4.50%, 2/25/2039		20		22
Series 2009-6, Class GS, IF, IO, 6.46%, 2/25/2039 (i)		698		151
Series 2009-17, Class QS, IF, IO, 6.56%, 3/25/2039 (i)		222		34
Series 2009-52, Class PI, IO, 5.00%, 7/25/2039		442		66
Series 2009-47, Class MT, 7.00%, 7/25/2039		12		14
Series 2009-59, Class HB, 5.00%, 8/25/2039		1,720		1,924
Series 2009-60, Class HT, 6.00%, 8/25/2039		2,177		2,517
Series 2009-65, Class MT, 5.00%, 9/25/2039		511		547
Series 2009-69, Class WA, 6.02%, 9/25/2039 (i)		731		823
Series 2009-86, Class IP, IO, 5.50%, 10/25/2039		1,035		181
Series 2009-84, Class WS, IF, IO, 5.81%, 10/25/2039 (i)		265		40
Series 2009-103, Class MB, 1.99%, 12/25/2039 (i)		900		940
Series 2009-99, Class SC, IF, IO, 6.09%, 12/25/2039 (i)		316		48
Series 2009-99, Class WA, 6.29%, 12/25/2039 (i)		1,781		2,014
Series 2009-113, Class AO, PO, 1/25/2040		268		230
Series 2009-112, Class ST, IF, IO, 6.16%, 1/25/2040 (i)		755		131
Series 2010-1, Class WA, 6.23%, 2/25/2040 (i)		314		352
Series 2010-16, Class WB, 6.18%, 3/25/2040 (i)		1,306		1,480
Series 2010-16, Class WA, 6.43%, 3/25/2040 (i)		1,287		1,446
Series 2010-49, Class SC, IF, 12.48%, 3/25/2040 (i)		1,195		1,516
Series 2010-40, Class FJ, 0.69%, 4/25/2040 (i)		227		229
Series 2010-35, Class SB, IF, IO, 6.33%, 4/25/2040 (i)		643		99
Series 2010-35, Class SJ, IF, 17.36%, 4/25/2040 (i)		733		937
Series 2010-43, Class FD, 0.69%, 5/25/2040 (i)		345		351
Series 2010-42, Class S, IF, IO, 6.31%, 5/25/2040 (i)		381		60
Series 2010-63, Class AP, PO, 6/25/2040		417		386
Series 2010-64, Class DM, 5.00%, 6/25/2040		2,786		3,094
Series 2010-58, Class MB, 5.50%, 6/25/2040		4,826		5,355
Series 2010-71, Class HJ, 5.50%, 7/25/2040		1,611		1,840
Series 2010-102, Class PN, 5.00%, 9/25/2040		1,794		1,995
Series 2010-111, Class AM, 5.50%, 10/25/2040		5,345		6,236
Series 2010-125, Class SA, IF, IO, 4.35%, 11/25/2040 (i)		1,961		231
Series 2011-101, Class FM, 0.64%, 1/25/2041 (i)		77		77
Series 2010-147, Class SA, IF, IO, 6.44%, 1/25/2041 (i)		3,793		798
Series 2011-30, Class LS, IO, 1.61%, 4/25/2041 (i)		3,040		198
Series 2011-149, Class EF, 0.59%, 7/25/2041 (i)		256		257
Series 2011-75, Class FA, 0.64%, 8/25/2041 (i)		632		638
Series 2011-149, Class MF, 0.59%, 11/25/2041 (i)		916		924
Series 2011-118, Class LB, 7.00%, 11/25/2041		5,143		6,180
Series 2011-118, Class MT, 7.00%, 11/25/2041		6,157		7,364
Series 2011-118, Class NT, 7.00%, 11/25/2041		5,207		6,189

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2012-99, Class FA, 0.54%, 9/25/2042 (i)		1,406		1,422
Series 2012-101, Class FC, 0.59%, 9/25/2042 (i)		769		755
Series 2012-97, Class FB, 0.59%, 9/25/2042 (i)		3,053		3,098
Series 2012-108, Class F, 0.59%, 10/25/2042 (i)		2,287		2,314
Series 2013-81, Class TA, 3.00%, 2/25/2043		4,206		4,333
Series 2013-4, Class AJ, 3.50%, 2/25/2043		1,787		1,873
Series 2013-92, PO, 9/25/2043		5,713		5,159
Series 2013-101, Class DO, PO, 10/25/2043		4,898		4,183
Series 2013-128, PO, 12/25/2043		9,177		8,509
Series 2013-135, PO, 1/25/2044		3,334		3,071
Series 2014-29, Class PS, IF, IO, 5.96%, 5/25/2044 (i)		3,221		540
Series 2018-63, Class DA, 3.50%, 9/25/2048		3,085		3,243
Series 2018-94, Class DZ, 4.00%, 1/25/2049		16,977		18,018
Series 2010-103, Class SB, IF, IO, 6.01%, 11/25/2049 (i)		576		67
Series 2011-2, Class WA, 5.84%, 2/25/2051 (i)		547		619
Series 2011-58, Class WA, 5.50%, 7/25/2051 (i)		170		197
FNMA, REMIC Trust, Whole Loan
Series 2004-W10, Class A6, 5.75%, 8/25/2034		2,762		2,978
Series 2007-W3, Class 1A3, 6.75%, 4/25/2037		170		183
Series 2007-W5, PO, 6/25/2037		120		110
Series 2007-W7, Class 1A4, HB, IF, 38.64%, 7/25/2037 (i)		113		189
Series 2002-W6, Class 1A6, 6.15%, 6/25/2042		13,600		15,178
Series 2003-W4, Class 2A, 5.52%, 10/25/2042 (i)		92		103
Series 2003-W1, Class 1A1, 5.04%, 12/25/2042 (i)		663		716
Series 2003-W1, Class 2A, 5.49%, 12/25/2042 (i)		181		197
Series 2004-W11, Class 1A1, 6.00%, 5/25/2044		522		613
Series 2005-W1, Class 1A2, 6.50%, 10/25/2044		945		1,106
Series 2006-W3, Class 2A, 6.00%, 9/25/2046		667		743
Series 2007-W10, Class 2A, 6.29%, 8/25/2047 (i)		74		83
Series 2009-W1, Class A, 6.00%, 12/25/2049		2,716		3,009
FNMA, REMIC, Whole Loan
Series 2007-101, Class A2, 0.37%, 6/27/2036 (i)		2,380		2,345
Series 2007-54, Class FA, 0.49%, 6/25/2037 (i)		1,195		1,214
Series 2007-64, Class FB, 0.46%, 7/25/2037 (i)		353		357
Series 2007-106, Class A7, 6.25%, 10/25/2037 (i)		314		365
Series 2002-90, Class A1, 6.50%, 6/25/2042		374		431
FNMA, STRIPS
Series 218, Class 2, IO, 7.50%, 4/25/2023		1		—	(j)
Series 265, Class 2, 9.00%, 3/25/2024		1		1
Series 300, Class 1, PO, 9/25/2024		133		131
Series 329, Class 1, PO, 1/25/2033		45		42
Series 345, Class 6, IO, 5.00%, 12/25/2033 (i)		64		8
Series 365, Class 8, IO, 5.50%, 5/25/2036		232		47
Series 374, Class 5, IO, 5.50%, 8/25/2036		173		30
Series 393, Class 6, IO, 5.50%, 4/25/2037		64		9
Series 383, Class 33, IO, 6.00%, 1/25/2038		163		32
Series 412, Class F2, 0.59%, 8/25/2042 (i)		2,853		2,897
Series 411, Class F1, 0.64%, 8/25/2042 (i)		6,524		6,594
FNMA, Whole Loan Series 2007-W1, Class 1AF1, 0.35%, 11/25/2046 (i)		5,124		5,086
Freedom Series 2021-SAVF1, IO, 4.40%, 3/25/2022 (i)		68,100		68,100
GMACM Mortgage Loan Trust Series 2005-AR3, Class 3A4, 3.08%, 6/19/2035 (i)		352		342
GNMA
Series 1999-4, Class ZB, 6.00%, 2/20/2029		422		422
Series 2001-35, Class SA, IF, IO, 8.16%, 8/16/2031 (i)		80		—	(j)
Series 2002-52, Class GH, 6.50%, 7/20/2032		375		375
Series 2011-43, Class ZQ, 5.50%, 1/16/2033		1,982		2,077
Series 2003-58, Class BE, 6.50%, 1/20/2033		513		542
Series 2003-12, Class SP, IF, IO, 7.61%, 2/20/2033 (i)		122		12
Series 2003-24, PO, 3/16/2033		38		38

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2003-40, Class TJ, 6.50%, 3/20/2033		1,004		1,067
Series 2003-46, Class TC, 6.50%, 3/20/2033		295		314
Series 2003-25, Class PZ, 5.50%, 4/20/2033		1,090		1,144
Series 2003-46, Class MG, 6.50%, 5/20/2033		400		437
Series 2003-52, Class AP, PO, 6/16/2033		222		211
Series 2003-75, Class ZX, 6.00%, 9/16/2033		625		694
Series 2003-90, PO, 10/20/2033		33		32
Series 2010-41, Class WA, 5.83%, 10/20/2033 (i)		776		862
Series 2003-97, Class SA, IF, IO, 6.46%, 11/16/2033 (i)		393		33
Series 2003-112, Class SA, IF, IO, 6.46%, 12/16/2033 (i)		423		38
Series 2004-28, Class S, IF, 19.42%, 4/16/2034 (i)		213		289
Series 2005-7, Class JM, IF, 16.52%, 5/18/2034 (i)		10		12
Series 2004-46, PO, 6/20/2034		358		349
Series 2004-49, Class Z, 6.00%, 6/20/2034		1,426		1,589
Series 2010-103, Class WA, 5.70%, 8/20/2034 (i)		426		481
Series 2004-73, Class JL, IF, IO, 6.46%, 9/16/2034 (i)		1,521		273
Series 2004-71, Class ST, IF, 7.00%, 9/20/2034 (i)		153		163
Series 2004-71, Class SB, HB, IF, 29.02%, 9/20/2034 (i)		153		224
Series 2004-83, Class AP, IF, 14.06%, 10/16/2034 (i)		6		6
Series 2004-89, Class LS, HB, IF, 24.06%, 10/16/2034 (i)		121		179
Series 2004-90, Class SI, IF, IO, 6.01%, 10/20/2034 (i)		2,098		283
Series 2004-96, Class SC, IF, IO, 5.99%, 11/20/2034 (i)		1,211		4
Series 2005-3, Class SK, IF, IO, 6.66%, 1/20/2035 (i)		1,389		259
Series 2005-68, Class DP, IF, 16.22%, 6/17/2035 (i)		445		536
Series 2008-79, Class CS, IF, 6.71%, 6/20/2035 (i)		698		741
Series 2005-56, Class IC, IO, 5.50%, 7/20/2035		140		22
Series 2005-66, Class SP, HB, IF, 20.54%, 8/16/2035 (i)		83		118
Series 2010-14, Class CO, PO, 8/20/2035		812		757
Series 2005-65, Class SA, HB, IF, 22.39%, 8/20/2035 (i)		27		40
Series 2005-72, Class AZ, 5.50%, 9/20/2035		778		867
Series 2005-68, Class KI, IF, IO, 6.21%, 9/20/2035 (i)		2,854		524
Series 2005-82, PO, 10/20/2035		193		174
Series 2010-14, Class BO, PO, 11/20/2035		273		254
Series 2005-91, Class PI, IO, 6.00%, 12/20/2035		290		40
Series 2006-20, Class QA, 5.75%, 2/20/2036		63		65
Series 2006-16, Class OP, PO, 3/20/2036		230		215
Series 2006-22, Class AO, PO, 5/20/2036		328		317
Series 2006-38, Class SW, IF, IO, 6.41%, 6/20/2036 (i)		19		1
Series 2006-34, PO, 7/20/2036		45		43
Series 2006-33, Class Z, 6.50%, 7/20/2036		1,427		1,651
Series 2006-38, Class ZK, 6.50%, 8/20/2036		1,871		2,062
Series 2006-57, Class PZ, 5.56%, 10/20/2036		842		906
Series 2006-59, Class SD, IF, IO, 6.61%, 10/20/2036 (i)		438		55
Series 2006-65, Class SA, IF, IO, 6.71%, 11/20/2036 (i)		768		78
Series 2011-22, Class WA, 5.90%, 2/20/2037 (i)		284		323
Series 2007-57, PO, 3/20/2037		528		512
Series 2007-9, Class CI, IF, IO, 6.11%, 3/20/2037 (i)		839		115
Series 2007-17, Class JO, PO, 4/16/2037		448		403
Series 2007-17, Class JI, IF, IO, 6.72%, 4/16/2037 (i)		1,156		237
Series 2010-129, Class AW, 5.93%, 4/20/2037 (i)		531		601
Series 2007-19, Class SD, IF, IO, 6.11%, 4/20/2037 (i)		439		39
Series 2007-25, Class FN, 0.39%, 5/16/2037 (i)		357		358
Series 2007-28, Class BO, PO, 5/20/2037		66		61
Series 2007-26, Class SC, IF, IO, 6.11%, 5/20/2037 (i)		784		109
Series 2007-27, Class SD, IF, IO, 6.11%, 5/20/2037 (i)		857		107
Series 2007-35, PO, 6/16/2037		1,159		1,097
Series 2007-36, Class HO, PO, 6/16/2037		120		112
Series 2007-36, Class SE, IF, IO, 6.38%, 6/16/2037 (i)		515		52
Series 2007-36, Class SJ, IF, IO, 6.16%, 6/20/2037 (i)		636		59
Series 2007-45, Class QA, IF, IO, 6.55%, 7/20/2037 (i)		987		129

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2007-40, Class SN, IF, IO, 6.59%, 7/20/2037 (i)		961		147
Series 2007-40, Class SD, IF, IO, 6.66%, 7/20/2037 (i)		668		93
Series 2008-20, PO, 9/20/2037		21		21
Series 2007-53, Class ES, IF, IO, 6.46%, 9/20/2037 (i)		672		86
Series 2007-53, Class SW, IF, 19.93%, 9/20/2037 (i)		158		199
Series 2008-32, Class PI, IO, 5.50%, 10/16/2037		430		15
Series 2008-7, Class SP, IF, 13.22%, 10/20/2037 (i)		118		130
Series 2009-79, Class OK, PO, 11/16/2037		1,212		1,138
Series 2007-74, Class SL, IF, IO, 6.45%, 11/16/2037 (i)		821		84
Series 2007-73, Class MI, IF, IO, 5.91%, 11/20/2037 (i)		778		80
Series 2007-76, Class SB, IF, IO, 6.41%, 11/20/2037 (i)		1,501		138
Series 2007-67, Class SI, IF, IO, 6.42%, 11/20/2037 (i)		844		125
Series 2007-72, Class US, IF, IO, 6.46%, 11/20/2037 (i)		681		74
Series 2008-7, Class SK, IF, 19.68%, 11/20/2037 (i)		82		100
Series 2007-79, Class SY, IF, IO, 6.46%, 12/20/2037 (i)		1,015		121
Series 2008-1, PO, 1/20/2038		46		43
Series 2015-137, Class WA, 5.53%, 1/20/2038 (i)		2,751		3,184
Series 2008-17, IO, 5.50%, 2/20/2038		154		5
Series 2009-106, Class ST, IF, IO, 5.91%, 2/20/2038 (i)		6,480		960
Series 2008-33, Class XS, IF, IO, 7.61%, 4/16/2038 (i)		457		66
Series 2008-36, Class SH, IF, IO, 6.21%, 4/20/2038 (i)		1,017		4
Series 2008-40, Class SA, IF, IO, 6.31%, 5/16/2038 (i)		3,522		583
Series 2008-50, Class KB, 6.00%, 6/20/2038		530		601
Series 2008-55, Class SA, IF, IO, 6.11%, 6/20/2038 (i)		245		32
Series 2008-69, Class QD, 5.75%, 7/20/2038		537		567
Series 2008-60, Class CS, IF, IO, 6.06%, 7/20/2038 (i)		839		90
Series 2012-59, Class WA, 5.58%, 8/20/2038 (i)		1,343		1,523
Series 2008-71, Class SC, IF, IO, 5.91%, 8/20/2038 (i)		297		34
Series 2008-76, Class US, IF, IO, 5.81%, 9/20/2038 (i)		1,060		144
Series 2008-81, Class S, IF, IO, 6.11%, 9/20/2038 (i)		2,195		176
Series 2009-25, Class SE, IF, IO, 7.51%, 9/20/2038 (i)		457		63
Series 2011-97, Class WA, 6.14%, 11/20/2038 (i)		842		970
Series 2008-93, Class AS, IF, IO, 5.61%, 12/20/2038 (i)		1,154		130
Series 2011-163, Class WA, 5.88%, 12/20/2038 (i)		3,155		3,622
Series 2008-96, Class SL, IF, IO, 5.91%, 12/20/2038 (i)		626		51
Series 2009-65, Class IQ, IO, 6.00%, 12/20/2038		57		1
Series 2008-95, Class DS, IF, IO, 7.21%, 12/20/2038 (i)		1,903		255
Series 2014-6, Class W, 5.41%, 1/20/2039 (i)		2,183		2,471
Series 2009-6, Class SA, IF, IO, 6.01%, 2/16/2039 (i)		482		36
Series 2009-11, Class SC, IF, IO, 6.06%, 2/16/2039 (i)		564		53
Series 2009-10, Class SA, IF, IO, 5.86%, 2/20/2039 (i)		842		109
Series 2009-6, Class SH, IF, IO, 5.95%, 2/20/2039 (i)		511		55
Series 2009-31, Class TS, IF, IO, 6.21%, 3/20/2039 (i)		645		43
Series 2009-14, Class KI, IO, 6.50%, 3/20/2039		292		49
Series 2009-14, Class NI, IO, 6.50%, 3/20/2039		640		132
Series 2009-22, Class SA, IF, IO, 6.18%, 4/20/2039 (i)		1,486		208
Series 2009-35, Class ZB, 5.50%, 5/16/2039		12,002		13,368
Series 2009-33, Class CI, IO, 5.50%, 5/20/2039		176		22
Series 2009-33, Class TI, IO, 6.00%, 5/20/2039		247		40
Series 2009-43, Class SA, IF, IO, 5.86%, 6/20/2039 (i)		809		85
Series 2009-42, Class SC, IF, IO, 5.99%, 6/20/2039 (i)		1,123		150
Series 2009-64, Class SN, IF, IO, 6.01%, 7/16/2039 (i)		1,157		134
Series 2009-72, Class SM, IF, IO, 6.16%, 8/16/2039 (i)		1,262		174
Series 2009-104, Class AB, 7.00%, 8/16/2039		412		439
Series 2009-75, Class MN, 5.50%, 9/20/2039		2,753		3,199
Series 2009-81, Class SB, IF, IO, 6.00%, 9/20/2039 (i)		2,185		373
Series 2009-106, Class AS, IF, IO, 6.31%, 11/16/2039 (i)		1,743		296
Series 2013-147, Class BE, 4.00%, 12/20/2039		3,874		4,335
Series 2015-91, Class W, 5.25%, 5/20/2040 (i)		2,410		2,740

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 2013-75, Class WA, 5.13%, 6/20/2040 (i)		704			796
Series 2011-137, Class WA, 5.59%, 7/20/2040 (i)		1,223			1,411
Series 2010-130, Class CP, 7.00%, 10/16/2040		2,271			2,677
Series 2010-157, Class OP, PO, 12/20/2040		2,490			2,347
Series 2011-75, Class SM, IF, IO, 6.51%, 5/20/2041 (i)		1,635			231
Series 2013-26, Class AK, 4.72%, 9/20/2041 (i)		1,799			2,016
Series 2014-188, Class W, 4.58%, 10/20/2041 (i)		1,756			1,928
Series 2012-141, Class WA, 4.53%, 11/16/2041 (i)		1,944			2,143
Series 2011-157, Class UY, 3.00%, 12/20/2041		1,500			1,599
Series 2012-141, Class WC, 3.70%, 1/20/2042 (i)		1,672			1,804
Series 2012-141, Class WB, 4.00%, 9/16/2042 (i)		1,006			1,106
Series 2014-41, Class W, 4.73%, 10/20/2042 (i)		1,773			1,969
Series 2013-54, Class WA, 4.89%, 11/20/2042 (i)		1,150			1,291
Series 2013-91, Class WA, 4.48%, 4/20/2043 (i)		1,415			1,542
Series 2019-78, Class SW, IF, IO, 6.01%, 6/20/2049 (i)		14,838			2,837
Series 2020-134, Class ST, IF, IO, 3.61%, 9/20/2050 (i)		56,342			5,322
Series 2012-H24, Class FA, 0.53%, 3/20/2060 (i)		160			161
Series 2012-H24, Class FG, 0.51%, 4/20/2060 (i)		75			75
Series 2013-H03, Class FA, 0.38%, 8/20/2060 (i)		5			5
Series 2011-H05, Class FB, 0.58%, 12/20/2060 (i)		1,365			1,369
Series 2011-H06, Class FA, 0.53%, 2/20/2061 (i)		1,615			1,618
Series 2012-H21, Class CF, 0.78%, 5/20/2061 (i)		112			113
Series 2011-H19, Class FA, 0.55%, 8/20/2061 (i)		1,669			1,672
Series 2012-H26, Class JA, 0.63%, 10/20/2061 (i)		20			20
Series 2012-H10, Class FA, 0.63%, 12/20/2061 (i)		14,250			14,297
Series 2012-H08, Class FB, 0.68%, 3/20/2062 (i)		3,937			3,953
Series 2013-H07, Class MA, 0.63%, 4/20/2062 (i)		9			9
Series 2012-H08, Class FS, 0.78%, 4/20/2062 (i)		4,676			4,718
Series 2012-H15, Class FA, 0.53%, 5/20/2062 (i)		—	(j)		—	(j)
Series 2012-H26, Class MA, 0.63%, 7/20/2062 (i)		40			41
Series 2012-H18, Class NA, 0.60%, 8/20/2062 (i)		928			931
Series 2012-H28, Class FA, 0.66%, 9/20/2062 (i)		102			103
Series 2012-H29, Class FA, 0.59%, 10/20/2062 (i)		10,019			10,045
Series 2012-H24, Class FE, 0.68%, 10/20/2062 (i)		84			84
Series 2013-H02, Class HF, 0.38%, 11/20/2062 (i)		37			37
Series 2013-H01, Class JA, 0.40%, 1/20/2063 (i)		5,114			5,110
Series 2013-H01, Class FA, 1.65%, 1/20/2063		101			102
Series 2013-H04, Class SA, 0.50%, 2/20/2063 (i)		1,413			1,416
Series 2013-H08, Class FC, 0.53%, 2/20/2063 (i)		2,777			2,782
Series 2013-H07, Class HA, 0.49%, 3/20/2063 (i)		4,382			4,386
Series 2013-H09, Class HA, 1.65%, 4/20/2063		181			182
Series 2013-H14, Class FG, 0.55%, 5/20/2063 (i)		1,132			1,134
Series 2013-H14, Class FC, 0.55%, 6/20/2063 (i)		1,184			1,186
Series 2014-H01, Class FD, 0.73%, 1/20/2064 (i)		12,449			12,511
Series 2014-H05, Class FA, 0.77%, 2/20/2064 (i)		9,570			9,668
Series 2014-H06, Class HB, 0.73%, 3/20/2064 (i)		2,159			2,171
Series 2014-H09, Class TA, 0.68%, 4/20/2064 (i)		9,015			9,050
Series 2014-H10, Class TA, 0.68%, 4/20/2064 (i)		13,987			14,093
Series 2014-H11, Class VA, 0.58%, 6/20/2064 (i)		15,447			15,517
Series 2014-H15, Class FA, 0.58%, 7/20/2064 (i)		15,343			15,411
Series 2014-H17, Class FC, 0.58%, 7/20/2064 (i)		10,372			10,411
Series 2014-H19, Class FE, 0.55%, 9/20/2064 (i)		14,861			14,906
Series 2014-H20, Class LF, 0.68%, 10/20/2064 (i)		7,138			7,194
Series 2015-H02, Class FB, 0.58%, 12/20/2064 (i)		5,145			5,159
Series 2015-H03, Class FA, 0.58%, 12/20/2064 (i)		5,052			5,064
Series 2015-H07, Class ES, 0.55%, 2/20/2065 (i)		7,948			7,966
Series 2015-H05, Class FC, 0.56%, 2/20/2065 (i)		25,196			25,273
Series 2015-H06, Class FA, 0.56%, 2/20/2065 (i)		12,166			12,203
Series 2015-H08, Class FC, 0.56%, 3/20/2065 (i)		35,023			35,141
Series 2015-H10, Class FC, 0.56%, 4/20/2065 (i)		30,144			30,256

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2015-H12, Class FA, 0.56%, 5/20/2065 (i)		18,021		18,082
Series 2015-H15, Class FD, 0.52%, 6/20/2065 (i)		8,537		8,558
Series 2015-H15, Class FJ, 0.52%, 6/20/2065 (i)		13,070		13,100
Series 2015-H18, Class FA, 0.53%, 6/20/2065 (i)		9,846		9,865
Series 2015-H16, Class FG, 0.52%, 7/20/2065 (i)		14,014		14,048
Series 2015-H16, Class FL, 0.52%, 7/20/2065 (i)		19,929		19,978
Series 2015-H20, Class FA, 0.55%, 8/20/2065 (i)		12,901		12,944
Series 2015-H26, Class FG, 0.60%, 10/20/2065 (i)		3,868		3,885
Series 2015-H32, Class FH, 0.74%, 12/20/2065 (i)		8,622		8,702
Series 2016-H07, Class FA, 0.83%, 3/20/2066 (i)		37,025		37,464
Series 2016-H07, Class FB, 0.83%, 3/20/2066 (i)		9,342		9,453
Series 2016-H11, Class FD, 0.68%, 5/20/2066 (i)		18,527		18,440
Series 2016-H26, Class FC, 1.08%, 12/20/2066 (i)		12,876		13,131
Series 2017-H08, Class XI, IO, 2.17%, 3/20/2067 (i)		57,620		5,030
Series 2017-H14, Class XI, IO, 1.68%, 6/20/2067 (i)		45,274		3,079
Series 2018-H09, Class FE, 0.34%, 6/20/2068 (i)		3,423		3,367
Series 2019-H20, Class ID, IO, 1.25%, 12/20/2069 (i)		24,192		2,066
Series 2020-H02, Class MI, IO, 1.21%, 1/20/2070 (i)		57,055		3,105
Series 2020-H05, IO, 1.06%, 3/20/2070 (i)		52,501		3,980
Series 2020-H09, IO, 0.88%, 5/20/2070 (i)		59,444		4,018
Series 2020-H09, Class IC, IO, 1.26%, 5/20/2070 (i)		63,407		4,412
Series 2020-H09, Class CI, IO, 1.27%, 5/20/2070 (i)		54,920		5,061
Series 2020-H11, IO, 0.99%, 6/20/2070 (i)		33,663		2,464
Series 2020-H12, Class IJ, IO, 1.19%, 7/20/2070 (i)		46,592		3,942
Series 2020-H12, Class HI, IO, 1.75%, 7/20/2070 (i)		37,953		3,551
Series 2020-H15, IO, 1.26%, 8/20/2070 (i)		59,809		5,251
Goodgreen Trust Series 2017-R1, 5.00%, 10/20/2051		18,689		17,288
GSMPS Mortgage Loan Trust
Series 2004-4, Class 1AF, 0.49%, 6/25/2034 (a) (i)		366		323
Series 2005-RP2, Class 1AF, 0.44%, 3/25/2035 (a) (i)		633		599
Series 2005-RP3, Class 1AF, 0.44%, 9/25/2035 (a) (i)		4,181		3,612
Series 2005-RP3, Class 1AS, IO, 4.19%, 9/25/2035 ‡ (a) (i)		3,082		319
GSR Mortgage Loan Trust
Series 2003-3F, Class 4A3, 5.75%, 4/25/2033		59		61
Series 2004-6F, Class 2A4, 5.50%, 5/25/2034		287		293
Series 2004-6F, Class 3A4, 6.50%, 5/25/2034		202		211
Series 2004-13F, Class 3A3, 6.00%, 11/25/2034		324		342
Series 2005-5F, Class 8A3, 0.59%, 6/25/2035 (i)		107		104
Series 2005-AR6, Class 3A1, 2.78%, 9/25/2035 (i)		33		34
Series 2005-7F, Class 3A9, 6.00%, 9/25/2035		530		548
Series 2006-1F, Class 1A3, 5.50%, 2/25/2036		183		300
Series 2006-1F, Class 2A4, 6.00%, 2/25/2036		1,835		1,263
Headlands Residential LLC
Series 2018-RPL1, Class A, 3.88%, 8/25/2024 (a) (e)		18,838		18,850
Series 2017-RPL1, Class A, 3.88%, 11/25/2024 (a) (e)		38,825		38,793
Series 2021-RPL1, Class NOTE, 2.49%, 9/25/2026 (a) (i)		30,000		30,000
Homeward Opportunities Fund Trust Series 2020-BPL1, Class A1, 3.23%, 8/25/2025 (a) (e)		29,871		30,425
Impac CMB Trust Series 2005-4, Class 2A1, 0.69%, 5/25/2035 (i)		718		706
Impac Secured Assets CMN Owner Trust Series 2003-2, Class A1, 5.50%, 8/25/2033		397		387
Impac Secured Assets Trust Series 2006-1, Class 2A1, 0.79%, 5/25/2036 (i)		572		573
JPMorgan Mortgage Trust
Series 2006-A2, Class 5A3, 2.27%, 11/25/2033 (i)		1,069		1,081
Series 2004-A3, Class 4A1, 2.30%, 7/25/2034 (i)		29		30
Series 2006-A2, Class 4A1, 2.23%, 8/25/2034 (i)		2,175		2,280
Series 2006-A3, Class 6A1, 2.61%, 8/25/2034 (i)		326		328
Series 2004-A4, Class 1A1, 2.24%, 9/25/2034 (i)		114		112
Series 2004-S1, Class 1A7, 5.00%, 9/25/2034		36		38

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 2005-A1, Class 3A4, 2.59%, 2/25/2035 (i)		360			357
Series 2007-A1, Class 5A1, 2.43%, 7/25/2035 (i)		276			282
Series 2007-A1, Class 5A2, 2.43%, 7/25/2035 (i)		111			113
Legacy Mortgage Asset Trust
Series 2020-GS1, Class A1, 2.88%, 10/25/2059 (a) (e)		8,161			8,178
Series 2020-GS5, Class A1, 3.25%, 6/25/2060 (a)		11,323			11,468
Series 2021-GS1, Class A1, 1.89%, 10/25/2066 (a) (e)		23,435			23,434
Lehman Mortgage Trust
Series 2006-2, Class 1A1, 5.94%, 4/25/2036 (i)		370			311
Series 2007-6, Class 1A8, 6.00%, 7/25/2037		116			117
Series 2008-2, Class 1A6, 6.00%, 3/25/2038		2,096			1,053
LHOME Mortgage Trust
Series 2019-RTL2, Class A1, 3.84%, 3/25/2024 (a)		7,597			7,618
Series 2020-RTL1, Class A1, 3.23%, 10/25/2024 (a)		18,550			18,652
Loan Revolving Advance Investment Trust Series 2021-1, Class A1X, 2.84%, 12/31/2022 (a) (i)		65,000			64,021
MASTR Adjustable Rate Mortgages Trust
Series 2004-13, Class 2A1, 2.62%, 4/21/2034 (i)		598			601
Series 2004-3, Class 4A2, 2.21%, 4/25/2034 (i)		165			165
Series 2004-15, Class 3A1, 2.49%, 12/25/2034 (i)		75			73
MASTR Alternative Loan Trust
Series 2004-10, Class 1A1, 4.50%, 9/25/2019		6			6
Series 2004-8, Class 6A1, 5.50%, 9/25/2019		2			3
Series 2003-9, Class 2A1, 6.00%, 12/25/2033		201			211
Series 2003-9, Class 8A1, 6.00%, 1/25/2034		120			126
Series 2004-3, Class 3A1, 6.00%, 4/25/2034		1,247			1,285
Series 2004-3, Class 2A1, 6.25%, 4/25/2034		235			245
Series 2004-6, Class 30, PO, 7/25/2034 ‡		153			130
Series 2004-6, Class 7A1, 6.00%, 7/25/2034		109			116
Series 2004-7, Class 30, PO, 8/25/2034 ‡		114			95
Series 2005-6, Class 3A1, 5.50%, 12/25/2035		71			65
MASTR Asset Securitization Trust
Series 2004-6, Class 15, PO, 7/25/2019 ‡		—	(j)		—	(j)
Series 2003-12, Class 30, PO, 12/25/2033 ‡		14			13
Series 2003-12, Class 6A1, 5.00%, 12/25/2033		68			69
Series 2004-4, Class 1A6, 5.25%, 12/26/2033		187			196
Series 2004-P7, Class A6, 5.50%, 12/27/2033 (a)		93			92
Series 2004-1, Class 30, PO, 2/25/2034 ‡		11			9
MASTR Reperforming Loan Trust
Series 2005-2, Class 1A1F, 0.44%, 5/25/2035 (a) (i)		6,222			3,264
Series 2006-2, Class 1A1, 4.14%, 5/25/2036 (a) (i)		700			684
MASTR Resecuritization Trust Series 2005-PO, Class 3, PO, 5/28/2035 ‡ (a)		114			96
Merrill Lynch Mortgage Investors Trust
Series 2003-E, Class A1, 0.71%, 10/25/2028 (i)		388			384
Series 2003-F, Class A1, 0.73%, 10/25/2028 (i)		700			690
Series 2004-A, Class A1, 0.55%, 4/25/2029 (i)		141			137
Series 2004-C, Class A2, 0.76%, 7/25/2029 (i)		252			251
Series 2003-A5, Class 2A6, 2.00%, 8/25/2033 (i)		135			136
Series 2004-A4, Class A2, 2.57%, 8/25/2034 (i)		354			359
Series 2004-1, Class 2A1, 2.04%, 12/25/2034 (i)		390			395
Series 2005-A2, Class A1, 2.83%, 2/25/2035 (i)		623			630
Merrill Lynch Mortgage-Backed Securities Trust Series 2007-3, Class 1A3, 1.19%, 6/25/2037 (i)		422			399
Mill City Securities Ltd. (Cayman Islands) Series 2021-RS1, Class A1, 2.91%, 4/28/2066 (a) (i)		61,788			61,758
Morgan Stanley Mortgage Loan Trust
Series 2004-9, Class 4A, 3.23%, 10/25/2019 (i)		65			64
Series 2004-3, Class 4A, 5.64%, 4/25/2034 (i)		954			1,007
MRA Issuance Trust
Series 2021-EBO5, Class A1Y, 1.83%, 2/16/2022 (a) (i)		28,700			28,700
Series 2021-EBO5, Class A1X, 1.83%, 2/16/2022 (a) (i)		82,300			82,363
Series 2021-EBO7, Class A1X, 2.84%, 2/16/2022 (a) (i)		82,300			82,322
Series 2021-EBO7, Class A1Y, 2.84%, 2/16/2022 (a) (i)		28,700			28,707
Series 2021-EBO2, Class A, 2.82%, 12/31/2049 (a) (i)		102,200			102,200
MRFC Mortgage Pass-Through Trust
Series 2000-TBC2, Class A1, 0.57%, 6/15/2030 (i)		831			814
Series 2000-TBC3, Class A1, 0.53%, 12/15/2030 (i)		206			202

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
NACC Reperforming Loan REMIC Trust Series 2004-R2, Class A1, 6.50%, 10/25/2034 (a) (i)		340			335
New Residential Mortgage Loan Trust Series 2020-RPL2, Class A1, 3.58%, 8/25/2025 (a) (i)		16,842			17,025
Nomura Asset Acceptance Corp. Alternative Loan Trust
Series 2003-A1, Class A5, 7.00%, 4/25/2033		69			75
Series 2003-A1, Class A1, 5.50%, 5/25/2033		19			20
Series 2003-A1, Class A2, 6.00%, 5/25/2033		73			76
P4 SFR Series 2019-STlA, 7.25%, 10/11/2026 ‡		40,900			40,900
PRET LLC Series 2021-RN4, Class A1, 2.49%, 11/25/2061 (a) (i)		48,500			48,542
Prime Mortgage Trust Series 2004-CL1, Class 1A1, 6.00%, 2/25/2034		342			356
Progress Residential Trust Series 2020-SFRMEZZ, 6.38%, 10/16/2025 ‡		45,000			44,550
PRPM LLC
Series 2021-1, Class A1, 2.12%, 1/25/2026 (a) (i)		53,912			53,724
Series 2021-10, Class A1, 2.49%, 10/25/2026 (a) (e)		66,491			66,431
RALI Trust
Series 2002-QS16, Class A3, IF, 16.43%, 10/25/2017 (i)		1			1
Series 2003-QS9, Class A3, IF, IO, 7.46%, 5/25/2018 ‡ (i)		6			—	(j)
Series 2003-QS12, Class A5, IO, 5.00%, 6/25/2018 ‡		—	(j)		—
Series 2003-QS12, Class A2A, IF, IO, 7.51%, 6/25/2018 ‡ (i)		—	(j)		—	(j)
Series 2003-QS14, Class A1, 5.00%, 7/25/2018		8			7
Series 2005-QA6, Class A32, 3.50%, 5/25/2035 (i)		735			494
Series 2007-QS1, Class 1A1, 6.00%, 1/25/2037		93			91
RBSSP Resecuritization Trust Series 2009-1, Class 1A1, 6.50%, 2/26/2036(a) (i)		22			22
Reperforming Loan REMIC Trust Series 2005-R1, Class 2A, PO, 3/25/2035 ‡ (a)		46			32
Repo Buyer Series 2019-PC, 8.32%, 5/14/2022 ‡		20,502			20,502
Residential Asset Securitization Trust Series 2003-A8, Class A5, 4.25%, 10/25/2018		12			12
RFMSI Trust Series 2005-SA4, Class 1A1, 2.25%, 9/25/2035 (i)		101			89
RMIP Series 2019-1B, 4.71%, 8/25/2023 ‡		16,718			16,415
SART
Series 2017-1, 4.75%, 7/15/2024		18,861			18,852
Series 2019-1RRA, 3.25%, 10/15/2024 ‡		3,679			3,631
Series 2018-1, 4.76%, 6/15/2025		22,538			22,538
SART CRR
Series 4A, 2.51%, 10/15/2024 ‡		8,975			8,857
Series 2A, 2.75%, 4/15/2026 ‡		6,498			6,417
Series 3, 2.50%, 7/15/2027 ‡		8,983			8,864
Seasoned Credit Risk Transfer Trust
Series 2017-4, Class M60C, 3.50%, 6/25/2057		12,460			13,162
Series 2018-4, Class MA, 3.50%, 3/25/2058 ‡		16,355			17,053
Series 2018-4, Class MZ, 3.50%, 3/25/2058 ‡		13,365			15,397
Series 2019-1, Class MT, 3.50%, 7/25/2058 ‡		47,447			50,378
Series 2019-1, Class M55D, 4.00%, 7/25/2058		29,177			31,469
Series 2019-3, Class MB, 3.50%, 10/25/2058 ‡		26,490			29,819
Series 2020-1, Class M55G, 3.00%, 8/25/2059		43,734			45,457
Series 2020-3, Class MT, 2.00%, 5/25/2060 ‡		59,575			59,508
Seasoned Loans Structured Transaction Series 2018-1, Class A1, 3.50%, 6/25/2028		11,486			11,829
Sequoia Mortgage Trust
Series 2004-8, Class A1, 0.79%, 9/20/2034 (i)		494			478
Series 2004-8, Class A2, 0.90%, 9/20/2034 (i)		658			672
Series 2004-10, Class A1A, 0.71%, 11/20/2034 (i)		248			245
Series 2004-11, Class A1, 0.69%, 12/20/2034 (i)		638			654
Series 2004-12, Class A3, 0.48%, 1/20/2035 (i)		614			597
Stanwich Mortgage Loan Co. LLC Series 2021-NPB1, Class A1, 2.73%, 10/16/2026 (a) (e)		36,635			36,615
Structured Asset Mortgage Investments II Trust
Series 2004-AR5, Class 1A1, 0.75%, 10/19/2034 (i)		720			709
Series 2005-AR5, Class A3, 0.59%, 7/19/2035 (i)		2,214			2,151

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Structured Asset Securities Corp.
Series 2003-37A, Class 2A, 2.05%, 12/25/2033 (i)		837		858
Series 2004-4XS, Class 1A5, 5.13%, 2/25/2034  (e)		1,170		1,206
Series 2005-RF3, Class 1A, 0.44%, 6/25/2035 (a) (i)		480		435
Structured Asset Securities Corp. Mortgage Pass-Through Certificates Series 2003-34A, Class 3A3, 2.98%, 11/25/2033 (i)		93		96
Thornburg Mortgage Securities Trust
Series 2003-4, Class A1, 0.73%, 9/25/2043 (i)		1,409		1,435
Series 2004-4, Class 3A, 1.88%, 12/25/2044 (i)		895		896
Towd Point Mortgage Trust
Series 2021-R1, Class A1, 2.92%, 11/30/2060 (a) (i)		102,956		103,325
Series 2021-R1, Class A2C, 3.31%, 11/30/2060 (a)		10,000		10,060
Two Harbors Series 2021-FNTMSR1, Class A, IO, 3.58%, 3/25/2022 (i)		68,100		68,100
Vendee Mortgage Trust
Series 1993-1, Class ZB, 7.25%, 2/15/2023		294		303
Series 1994-1, Class 1, 5.02%, 2/15/2024 (i)		148		153
Series 1994-1, Class 2ZB, 6.50%, 2/15/2024		450		472
Series 1996-1, Class 1Z, 6.75%, 2/15/2026		441		487
Series 1996-2, Class 1Z, 6.75%, 6/15/2026		192		211
Series 1997-1, Class 2Z, 7.50%, 2/15/2027		651		722
Series 1998-1, Class 2E, 7.00%, 3/15/2028		447		490
VMD Series 2021-Senior, IO, 5.50%, 9/5/2024 ‡		76,000		76,000
vMobo, Inc. 7.50%, 5/31/2024		41,540		41,540
WaMu Mortgage Pass-Through Certificates
Series 2003-S4, Class 2A10, IF, 17.21%, 6/25/2033 (i)		89		103
Series 2004-RS2, Class A4, 5.00%, 11/25/2033		201		208
WaMu Mortgage Pass-Through Certificates Trust
Series 2003-S1, Class A5, 5.50%, 4/25/2033		347		355
Series 2003-AR7, Class A7, 2.36%, 8/25/2033 (i)		337		334
Series 2003-AR9, Class 2A, 2.37%, 9/25/2033 (i)		267		266
Series 2003-AR9, Class 1A6, 2.51%, 9/25/2033 (i)		1,921		1,920
Series 2003-S9, Class P, PO, 10/25/2033 ‡		24		21
Series 2003-AR11, Class A6, 2.66%, 10/25/2033 (i)		1,008		1,020
Series 2003-S9, Class A8, 5.25%, 10/25/2033		1,442		1,486
Series 2004-AR3, Class A1, 2.59%, 6/25/2034 (i)		422		435
Series 2004-AR3, Class A2, 2.59%, 6/25/2034 (i)		543		558
Series 2004-S2, Class 2A4, 5.50%, 6/25/2034		921		946
Series 2004-S3, Class 1A5, 5.00%, 7/25/2034		97		98
Series 2006-AR10, Class 2P, 2.69%, 9/25/2036 ‡ (i)		50		46
Series 2006-AR8, Class 1A2, 2.85%, 8/25/2046 (i)		288		287
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust
Series 2005-1, Class CP, PO, 3/25/2035 ‡		53		41
Series 2005-1, Class 1A1, 5.50%, 3/25/2035		469		478
Series 2005-2, Class 2A3, IF, IO, 4.91%, 4/25/2035 ‡ (i)		1,052		141
Series 2005-2, Class 1A4, IF, IO, 4.96%, 4/25/2035 ‡ (i)		3,829		471
Series 2005-4, Class CB7, 5.50%, 6/25/2035		1,292		1,320
Series 2005-4, Class CX, IO, 5.50%, 6/25/2035 ‡		1,291		216
Series 2005-6, Class 2A4, 5.50%, 8/25/2035		196		193
Series 2006-1, Class 3A2, 5.75%, 2/25/2036		107		106
Washington Mutual MSC Mortgage Pass-Through Certificates Trust Series 2003-MS7, Class P, PO, 3/25/2033 ‡		1		—	(j)
Wells Fargo Alternative Loan Trust
Series 2003-1, Class A, PO, 9/25/2033 ‡		28		24
Series 2007-PA3, Class 1A2, 5.75%, 7/25/2037		120		122
Wells Fargo Mortgage-Backed Securities Trust Series 2007-7, Class A7, 6.00%, 6/25/2037		70		69
ZH Trust Series 2021-2, Class A, 2.35%, 10/17/2027 (a)		35,960		35,388
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $3,790,198)				3,819,571

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
ASSET-BACKED SECURITIES — 9.1%
Academic Loan Funding Trust Series 2013-1A, Class A, 0.89%, 12/26/2044 (a) (i)		1,979		1,976
ACC Trust Series 2019-2, Class A, 2.82%, 2/21/2023 (a)		460		460
Accelerated Assets LLC Series 2018-1, Class A, 3.87%, 12/2/2033 (a)		8,202		8,458
Air Canada Pass-Through Trust (Canada)
Series 2013-1, Class A, 4.13%, 5/15/2025 (a)		8,825		8,963
Series 2015-1, Class A, 3.60%, 3/15/2027 (a)		3,954		4,025
Series 2017-1, Class AA, 3.30%, 1/15/2030 (a)		7,282		7,493
Series 2017-1, Class A, 3.55%, 1/15/2030 (a)		7,018		6,864
American Airlines Pass-Through Trust
Series 2014-1, Class A, 3.70%, 10/1/2026		263		269
Series 2016-2, Class A, 3.65%, 6/15/2028		5,509		5,390
Series 2016-3, Class AA, 3.00%, 10/15/2028		16,749		16,988
Series 2017-1, Class AA, 3.65%, 2/15/2029		4,102		4,330
Series 2019-1, Class AA, 3.15%, 2/15/2032		14,254		14,563
American Credit Acceptance Receivables Trust
Series 2020-2, Class B, 2.48%, 9/13/2024 (a)		1,023		1,028
Series 2020-2, Class C, 3.88%, 4/13/2026 (a)		2,030		2,089
American Homes 4 Rent
Series 2015-SFR1, Class A, 3.47%, 4/17/2052 (a)		16,028		16,834
Series 2015-SFR1, Class E, 5.64%, 4/17/2052 ‡ (a)		7,420		8,003
American Homes 4 Rent Trust
Series 2014-SFR2, Class A, 3.79%, 10/17/2036 (a)		10,951		11,404
Series 2014-SFR2, Class B, 4.29%, 10/17/2036 ‡ (a)		2,400		2,504
Series 2014-SFR2, Class D, 5.15%, 10/17/2036 ‡ (a)		8,100		8,568
Series 2014-SFR2, Class E, 6.23%, 10/17/2036 (a)		7,300		7,887
Series 2014-SFR3, Class A, 3.68%, 12/17/2036 (a)		8,715		9,158
Series 2014-SFR3, Class C, 4.60%, 12/17/2036 (a)		3,750		3,938
Series 2014-SFR3, Class E, 6.42%, 12/17/2036 ‡ (a)		16,970		18,472
Series 2015-SFR2, Class E, 6.07%, 10/17/2052 ‡ (a)		1,415		1,558
American Tower Trust #1 REIT, 3.07%, 3/15/2023 (a)		6,220		6,226
AmeriCredit Automobile Receivables Trust
Series 2017-2, Class D, 3.42%, 4/18/2023		11,717		11,735
Series 2017-4, Class C, 2.60%, 9/18/2023		7,210		7,237
AMSR Trust
Series 2020-SFR1, Class E, 3.22%, 4/17/2037 (a)		40,100		40,498
Series 2020-SFR2, Class C, 2.53%, 7/17/2037 ‡ (a)		2,949		2,959
Series 2020-SFR2, Class D, 3.28%, 7/17/2037 ‡ (a)		15,495		15,784
Series 2020-SFR2, Class E1, 4.03%, 7/17/2037 ‡ (a)		12,912		13,311
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 ‡ (a)		9,600		9,525
Series 2020-SFR4, Class D, 2.01%, 11/17/2037 ‡ (a)		20,000		19,536
Series 2020-SFR4, Class E1, 2.21%, 11/17/2037 ‡ (a)		19,000		18,527
Series 2019-SFR1, Class E, 3.47%, 1/19/2039 ‡ (a)		7,800		7,819
Aqua Finance Trust
Series 2017-A, Class A, 3.72%, 11/15/2035 (a)		5,800		5,924
Series 2019-A, Class A, 3.14%, 7/16/2040 (a)		11,068		11,284
Series 2020-AA, Class B, 2.79%, 7/17/2046 ‡ (a)		2,750		2,806
Arivo Acceptance Auto Loan Receivables Trust Series 2019-1, Class A, 2.99%, 7/15/2024 (a)		5,593		5,635
Arm Master Trust Series 2021-T2, Class A, 1.42%, 1/15/2024 (a)		5,740		5,740
Arm Master Trust LLC Agricultural Loan Backed Notes Series 2021-T1, Class A, 2.43%, 11/15/2027 (a)		31,250		30,772
Avis Budget Rental Car Funding AESOP LLC Series 2020-1A, Class A, 2.33%, 8/20/2026 (a)		24,040		24,769
British Airways Pass-Through Trust (United Kingdom)
Series 2018-1, Class AA, 3.80%, 9/20/2031 (a)		7,202		7,522
Series 2018-1, Class A, 4.13%, 9/20/2031 (a)		11,538		11,728
Series 2019-1, Class AA, 3.30%, 12/15/2032 (a)		9,087		9,335
Business Jet Securities LLC
Series 2019-1, Class A, 4.21%, 7/15/2034 (a)		25,942		26,393
Series 2019-1, Class B, 5.19%, 7/15/2034 ‡ (a)		1,661		1,646
Series 2020-1A, Class A, 2.98%, 11/15/2035 (a)		18,503		18,690
Series 2021-1A, Class A, 2.16%, 4/15/2036 (a)		33,394		33,403

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Camillo Issuer LLC
Series 2016-SFR, Class 1-A-1, 5.00%, 12/5/2023 ‡		38,660		39,855
Series 2018-SFR1, Class A, 5.25%, 6/5/2028 ‡ (a)		41,831		43,479
Cars Net Lease Mortgage Notes Series 2020-1A, Class A3, 3.10%, 12/15/2050 (a)		12,303		12,449
CARS-DB4 LP
Series 2020-1A, Class A5, 3.48%, 2/15/2050 (a)		5,734		5,838
Series 2020-1A, Class A6, 3.81%, 2/15/2050 (a)		5,984		6,391
Carvana Auto Receivables Trust Series 2019-4A, Class C, 2.72%, 1/15/2025 (a)		11,000		11,176
Chase Funding Trust
Series 2003-4, Class 1A5, 5.92%, 5/25/2033 ‡ (e)		755		761
Series 2003-6, Class 1A7, 5.28%, 11/25/2034 ‡ (e)		1,536		1,597
Series 2003-6, Class 1A5, 5.85%, 11/25/2034 ‡ (e)		901		935
CIG Auto Receivables Trust Series 2019-1A, Class C, 3.82%, 8/15/2024 (a)		3,000		3,046
Citibank Credit Card Issuance Trust Series 2007-A3, Class A3, 6.15%, 6/15/2039		950		1,328
Consumer Receivables Asset Investment Trust
Series 2021-1, Class A1X, 3.18%, 3/24/2023 (a) (i)		62,310		62,168
Series 2021-1, Class A1Y, 3.18%, 3/24/2023 (a) (i)		13,850		13,823
Continental Airlines Pass-Through Trust Series 2007-1, Class A, 5.98%, 4/19/2022		586		595
COOF Securitization Trust Ltd. Series 2014-1, Class A, IO, 3.67%, 6/25/2040 ‡ (a) (i)		4,002		339
CoreVest American Finance Trust
Series 2019-2, Class B, 3.42%, 6/15/2052 ‡ (a)		5,250		5,546
Series 2019-2, Class C, 3.68%, 6/15/2052 ‡ (a)		5,526		5,796
Series 2019-3, Class A, 2.71%, 10/15/2052 (a)		28,938		29,617
Credit Acceptance Auto Loan Trust
Series 2020-1A, Class C, 2.59%, 6/15/2029 (a)		25,115		25,616
Series 2020-3A, Class C, 2.28%, 2/15/2030 (a)		12,000		12,139
Credito Real USA Auto Receivables Trust Series 2021-1A, Class A, 1.35%, 2/16/2027 (a)		13,046		13,031
Crossroads Asset Trust Series 2021-A, Class A2, 0.82%, 3/20/2024 (a)		4,585		4,587
Crown Castle Towers LLC 4.24%, 7/15/2028 (a)		10,000		11,026
CSMC Trust Series 2021-JR1, Class A1, 2.46%, 9/27/2066 (a) (i)		37,778		37,674
CWABS, Inc. Asset-Backed Certificates
Series 2004-1, Class M1, 0.84%, 3/25/2034 ‡ (i)		62		62
Series 2004-1, Class M2, 0.92%, 3/25/2034 ‡ (i)		48		48
Series 2004-1, Class 3A, 0.65%, 4/25/2034 ‡ (i)		220		208
CWABS, Inc. Asset-Backed Certificates Trust Series 2004-6, Class M1, 0.99%, 10/25/2034 (i)		82		81
Diamond Resorts Owner Trust
Series 2017-1A, Class A, 3.27%, 10/22/2029 (a)		4,151		4,179
Series 2017-1A, Class B, 4.11%, 10/22/2029 ‡ (a)		1,460		1,469
Drive Auto Receivables Trust
Series 2017-3, Class D, 3.53%, 12/15/2023 (a)		3,755		3,764
Series 2018-3, Class D, 4.30%, 9/16/2024		16,185		16,406
Series 2019-4, Class C, 2.51%, 11/17/2025		14,249		14,342
Series 2019-1, Class D, 4.09%, 6/15/2026		15,350		15,707
Series 2019-2, Class D, 3.69%, 8/17/2026		14,220		14,581
Series 2019-4, Class D, 2.70%, 2/16/2027		12,550		12,792
DT Auto Owner Trust
Series 2018-1A, Class D, 3.81%, 12/15/2023 (a)		1,094		1,095
Series 2018-2A, Class D, 4.15%, 3/15/2024 (a)		7,982		8,071
Series 2019-1A, Class D, 3.87%, 11/15/2024 (a)		9,800		9,998
Series 2020-3A, Class C, 1.47%, 6/15/2026 (a)		6,815		6,845
Elara HGV Timeshare Issuer LLC
Series 2017-A, Class B, 2.96%, 3/25/2030 (a)		2,707		2,746
Series 2017-A, Class C, 3.31%, 3/25/2030 (a)		1,827		1,852
Exeter Automobile Receivables Trust
Series 2017-3A, Class C, 3.68%, 7/17/2023 (a)		3,527		3,561
Series 2019-4A, Class C, 2.44%, 9/16/2024 (a)		28,243		28,420
Series 2019-1A, Class C, 3.82%, 12/16/2024 (a)		448		448
Series 2019-1A, Class D, 4.13%, 12/16/2024 (a)		7,600		7,776
Series 2019-3A, Class D, 3.11%, 8/15/2025 (a)		18,525		18,974
Series 2020-1A, Class D, 2.73%, 12/15/2025 (a)		22,035		22,550

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
FHF Trust Series 2021-1A, Class A, 1.27%, 3/15/2027 (a)		12,478		12,420
FirstKey Homes Trust
Series 2020-SFR1, Class D, 2.24%, 8/17/2037 ‡ (a)		6,450		6,400
Series 2020-SFR1, Class E, 2.79%, 8/17/2037 ‡ (a)		11,250		11,300
Series 2020-SFR2, Class E, 2.67%, 10/19/2037 ‡ (a)		57,000		56,935
Series 2021-SFR1, Class D, 2.19%, 8/17/2038 ‡ (a)		14,400		14,097
Series 2021-SFR1, Class E1, 2.39%, 8/17/2038 ‡ (a)		12,500		12,227
Flagship Credit Auto Trust Series 2019-2, Class B, 2.92%, 4/15/2025 (a)		21,324		21,466
FNMA, Grantor Trust Series 2017-T1, Class A, 2.90%, 6/25/2027		86,407		91,754
Foundation Finance Trust
Series 2019-1A, Class A, 3.86%, 11/15/2034 (a)		11,506		11,822
Series 2019-1A, Class C, 5.66%, 11/15/2034 ‡ (a)		18,930		20,553
Series 2020-1A, Class A, 3.54%, 7/16/2040 (a)		34,408		35,430
Foursight Capital Automobile Receivables Trust Series 2021-1, Class D, 1.32%, 3/15/2027 (a)		900		883
GE Capital Mortgage Services, Inc. Trust Series 1999-HE1, Class M, 6.71%, 4/25/2029 ‡ (i)		111		100
Gold Key Resorts LLC Series 2014-A, Class A, 3.22%, 3/17/2031 (a)		639		645
Golden Bear LLC Series 2016-R, Class R, 5.65%, 9/20/2047 (a)		1,277		1,276
Goodgreen Series 2019-2A, Class A, 2.76%, 4/15/2055 (a)		27,113		27,316
Goodgreen Trust
Series 2016-1A, Class A, 3.23%, 10/15/2052 (a)		11,726		12,031
Series 2017-1A, Class A, 3.74%, 10/15/2052 (a)		3,417		3,550
Series 2017-2A, Class A, 3.26%, 10/15/2053 (a)		15,876		16,194
Harvest SBA Loan Trust Series 2021-1, Class A, 2.09%, 4/25/2048 (a) (i)		7,526		7,398
HERO (Cayman Islands) Series 2018-1ASI, Class A, 4.00%, 9/20/2047 (a)		2,168		2,060
HERO Funding (Cayman Islands)
Series 2017-3A, Class A2, 3.95%, 9/20/2048 (a)		11,941		12,300
Series 2018-1A, Class A2, 4.67%, 9/20/2048 (a)		15,088		15,909
HERO Funding II (Cayman Islands)
Series 2016-3B, Class B, 5.24%, 9/20/2042 ‡ (a)		776		776
3.75%, 9/21/2044‡		5,644		5,749
Series 2016-4B, Class B, 9/20/2047 ‡ (a)		1,931		1,959
HERO Funding Trust (Cayman Islands)
Series 2016-3A, Class A1, 3.08%, 9/20/2042 (a)		4,446		4,554
Series 2016-4A, Class A1, 3.57%, 9/20/2047 (a)		1,340		1,387
Series 2016-4A, Class A2, 4.29%, 9/20/2047 (a)		2,792		2,917
Series 2017-1A, Class A2, 4.46%, 9/20/2047 (a)		9,645		10,124
Hilton Grand Vacations Trust
Series 2017-AA, Class A, 2.66%, 12/26/2028 (a)		1,249		1,269
Series 2020-AA, Class A, 2.74%, 2/25/2039 (a)		11,044		11,377
Home Equity Mortgage Loan Asset-Backed Trust Series 2006-A, Class A3, 0.49%, 3/25/2036 ‡ (i)		27		27
Home Partners of America Trust
Series 2021-2, Class E1, 2.85%, 12/17/2026 (a)		40,912		40,618
Series 2021-2, Class E2, 2.95%, 12/17/2026 (a)		9,750		9,680
JetBlue Pass-Through Trust
Series 2019-1, Class B, 8.00%, 11/15/2027		2,499		2,888
Series 2020-1, Class B, 7.75%, 11/15/2028		5,374		6,317
KGS-Alpha SBA COOF Trust
Series 2012-3, Class A, IO, 0.59%, 9/25/2026 ‡ (a) (i)		479		3
Series 2014-1, Class A, IO, 1.71%, 10/25/2032 ‡ (a) (i)		12,300		249
Series 2012-4, Class A, IO, 1.20%, 9/25/2037 ‡ (a) (i)		28,879		493
Series 2012-2, Class A, IO, 0.95%, 8/25/2038 ‡ (a) (i)		13,188		264
Series 2013-2, Class A, IO, 2.14%, 3/25/2039 ‡ (a) (i)		12,669		490
Series 2012-6, Class A, IO, 0.80%, 5/25/2039 ‡ (a) (i)		13,442		183
Series 2014-2, Class A, IO, 3.40%, 4/25/2040 ‡ (a) (i)		3,507		279
Series 2015-2, Class A, IO, 3.29%, 7/25/2041 ‡ (a) (i)		3,967		452
Lendingpoint Asset Securitization Trust Series 2021-B, Class A, 1.11%, 2/15/2029 (a)		48,683		48,638
LendingPoint Asset Securitization Trust
Series 2021-1, Class A, 1.75%, 4/15/2027 (a)		21,613		21,685

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2020-REV1, Class B, 4.49%, 10/15/2028‡ (a)		32,938		33,556
Lendingpoint SPE Trust
Series 2020-VFN1, Class A1B, 4.34%, 12/15/2026 (a) (i)		35,000		36,313
Series 2020-VFN1, Class A2B1, 4.34%, 12/15/2026 (a) (i)		24,517		25,243
Lendmark Funding Trust
Series 2019-2A, Class A, 2.78%, 4/20/2028 (a)		17,859		18,127
Series 2019-2A, Class B, 3.22%, 4/20/2028 ‡ (a)		6,150		6,251
LFT CRE Ltd. (Cayman Islands) Series 2021-FL1, Class C, 2.04%, 6/15/2039 ‡ (a) (i)		29,810		29,773
LMREC LLC Series 2021-CRE4, Class A, 1.14%, 4/22/2037 (a) (i)		34,905		34,910
Long Beach Mortgage Loan Trust
Series 2004-1, Class M1, 0.84%, 2/25/2034 ‡ (i)		914		913
Series 2004-3, Class M1, 0.95%, 7/25/2034 ‡ (i)		256		255
LP LMS Asset Securitization Trust
Series 2020-1A, Class A, 3.97%, 2/10/2026 (a)		6,970		7,034
3.23%, 10/15/2028		58,578		59,031
Mariner Finance Issuance Trust Series 2019-AA, Class A, 2.96%, 7/20/2032 (a)		33,360		33,835
Mercury Financial Credit Card Master Trust
Series 2021-1A, Class A, 1.54%, 3/20/2026 (a)		38,420		38,445
Series 2021-1A, Class B, 2.33%, 3/20/2026 (a)		8,740		8,675
Mid-State Capital Corp. Trust Series 2006-1, Class M1, 6.08%, 10/15/2040 ‡ (a)		4,392		4,566
MVW Owner Trust Series 2019-1A, Class A, 2.89%, 11/20/2036 (a)		8,168		8,306
New Century Home Equity Loan Trust Series 2003-5, Class AI6, 6.00%, 11/25/2033 ‡ (e)		975		998
NMEF Funding LLC
Series 2019-A, Class A, 2.73%, 8/17/2026 (a)		1,935		1,938
Series 2019-A, Class B, 3.06%, 8/17/2026 ‡ (a)		11,000		11,087
NRZ Excess Spread-Collateralized Notes
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (a)		33,421		33,546
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (a)		45,082		44,772
Series 2021-GNT1, Class A, 3.47%, 11/25/2026 (a)		50,550		50,548
Octane Receivables Trust Series 2019-1A, Class A, 3.16%, 9/20/2023 (a)		4,263		4,289
OL SP LLC
Series 2018, Class A, 4.16%, 2/9/2030		2,185		2,248
Series 2018, Class B, 4.61%, 2/9/2030 ‡		683		698
OneMain Direct Auto Receivables Trust Series 2018-1A, Class B, 3.71%, 4/14/2025 (a)		25,537		25,615
Oportun Funding XIII LLC Series 2019-A, Class A, 3.08%, 8/8/2025 (a)		45,920		46,483
Oportun Funding XIV LLC Series 2021-A, Class A, 1.21%, 3/8/2028 (a)		20,285		20,268
Oportun Issuance Trust Series 2021-B, Class A, 1.47%, 5/8/2031 (a)		38,800		38,646
Orange Lake Timeshare Trust Series 2019-A, Class B, 3.36%, 4/9/2038 ‡ (a)		7,273		7,411
Pretium Mortgage Credit Partners I LLC
Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 (a) (e)		60,010		59,769
Series 2021-NPL4, Class A1, 2.36%, 10/27/2060 ‡ (a) (e)		36,020		35,793
Progress Residential Trust
Series 2020-SFR2, Class A, 2.08%, 6/17/2037 (a)		27,455		27,572
Series 2021-SFR2, Class E1, 2.55%, 4/19/2038 ‡ (a)		16,700		16,452
Series 2021-SFR8, Class A, 1.51%, 10/17/2038 (a)		7,600		7,473
Series 2021-SFR8, Class E1, 2.38%, 10/17/2038 ‡ (a)		35,000		34,289
ReadyCap Lending Small Business Loan Trust Series 2019-2, Class A, 2.75%, 12/27/2044 (a) (i )		16,098		15,422
Regional Management Issuance Trust
Series 2019-1, Class A, 3.05%, 11/15/2028 (a)		19,827		19,915
Series 2020-1, Class A, 2.34%, 10/15/2030 (a)		16,100		16,256
Renaissance Home Equity Loan Trust Series 2007-2, Class AF2, 5.68%, 6/25/2037 ‡ (e)		96		37
Renew (Cayman Islands) Series 2017-1A, Class A, 3.67%, 9/20/2052 (a)		4,230		4,372
RFLF 1 Issuer LLC Series 2018-1A, Class A, 5.25%, 6/12/2022 ‡ (a)		45,000		45,005
Santander Drive Auto Receivables Trust
Series 2018-1, Class D, 3.32%, 3/15/2024		14,757		14,839
Series 2019-2, Class C, 2.90%, 10/15/2024		10,847		10,903
Series 2019-1, Class C, 3.42%, 4/15/2025		2,110		2,113

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Securitized Asset-Backed Receivables LLC Trust Series 2006-CB1, Class AF2, 2.92%, 1/25/2036 ‡ (e)		412		415
Sierra Timeshare Receivables Funding LLC Series 2020-2A, Class C, 3.51%, 7/20/2037 ‡ (a)		4,727		4,820
Spirit Airlines Pass-Through Trust Series 2017-1, Class AA, 3.38%, 2/15/2030		3,522		3,575
Structured Asset Securities Corp. Mortgage Pass-Through Certificates
Series 2004-6XS, Class A5A, 6.03%, 3/25/2034 ‡ (e)		330		333
Series 2004-6XS, Class A5B, 6.05%, 3/25/2034 ‡ (e)		264		267
Structured Asset Securities Corp. Pass-Through Certificates
Series 2002-AL1, Class A2, 3.45%, 2/25/2032‡		88		83
Series 2002-AL1, Class A3, 3.45%, 2/25/2032‡		278		250
Synchrony Card Funding LLC Series 2019-A2, Class A, 2.34%, 6/15/2025		47,475		47,970
Towd Point Mortgage Trust Series 2017-FRE2, Class M6, 4.00%, 11/25/2047 ‡ (a) (e)		36,034		36,212
Tricolor Auto Securitization Trust Series 2020-1A, Class A, 4.88%, 11/15/2026 (a)		24,412		24,588
Tricon American Homes Trust
Series 2019-SFR1, Class D, 3.20%, 3/17/2038 ‡ (a)		4,641		4,714
Series 2019-SFR1, Class E, 3.40%, 3/17/2038 ‡ (a)		11,000		11,039
United Airlines Pass-Through Trust
Series 2012-1, Class A, 4.15%, 4/11/2024		1,815		1,896
Series 2013-1, Class A, 4.30%, 8/15/2025		16,878		17,714
Series 2016-2, Class B, 3.65%, 10/7/2025		18,785		18,783
Series 2016-1, Class B, 3.65%, 1/7/2026		2,107		2,112
Series 2018-1, Class B, 4.60%, 3/1/2026		8,918		9,074
Series 2014-1, Class A, 4.00%, 4/11/2026		5,041		5,306
Series 2014-2, Class A, 3.75%, 9/3/2026		9,406		9,864
Series 2019-2, Class B, 3.50%, 5/1/2028		10,165		10,094
Series 2016-1, Class AA, 3.10%, 7/7/2028		2,288		2,370
Series 2016-1, Class A, 3.45%, 7/7/2028		21,696		22,057
Series 2016-2, Class AA, 2.88%, 10/7/2028		1,419		1,436
Series 2016-2, Class A, 3.10%, 10/7/2028		16,466		16,451
Series 2018-1, Class AA, 3.50%, 3/1/2030		17,518		18,494
Series 2018-1, Class A, 3.70%, 3/1/2030		2,181		2,235
Series 2019-1, Class AA, 4.15%, 8/25/2031		13,787		15,205
Series 2019-1, Class A, 4.55%, 8/25/2031		12,468		13,459
Series 2019-2, Class AA, 2.70%, 5/1/2032		7,018		7,088
Upstart Pass-Through Trust Series 2021-ST2, Class A, 2.50%, 4/20/2027 (a)		6,708		6,744
US Auto Funding LLC Series 2019-1A, Class B, 3.99%, 12/15/2022 (a)		281		282
USASF Receivables LLC Series 2020-1A, Class B, 3.22%, 5/15/2024 (a)		20,000		20,215
VCAT LLC
Series 2021-NPL2, Class A1, 2.12%, 3/27/2051 (a) (e)		33,400		33,398
Series 2021-NPL5, Class A1, 1.87%, 8/25/2051 ‡ (a) (e)		4,872		4,846
VOLT C LLC Series 2021-NPL9, Class A1, 1.99%, 5/25/2051 (a) (e)		11,569		11,529
VOLT XCII LLC Series 2021-NPL1, Class A1, 1.89%, 2/27/2051 (a) (e)		25,825		25,771
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 (a) (e)		55,566		55,440
VOLT XCIX LLC Series 2021-NPL8, Class A1, 2.12%, 4/25/2051 (a) (e)		38,318		38,239
VOLT XCV LLC Series 2021-NPL4, Class A1, 2.24%, 3/27/2051‡ (a) (e)		23,852		23,771
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (a) (e)		71,690		71,498
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 (a) (e)		53,291		53,086
VOLT XCVIII LLC Series 2021-NPL7, Class A1, 2.12%, 4/25/2051 (a) (e)		24,565		24,531
Welk Resorts LLC Series 2019-AA, Class C, 3.34%, 6/15/2038 ‡ (a)		5,697		5,794
Westgate Resorts LLC Series 2020-1A, Class B, 3.96%, 3/20/2034 ‡ (a)		27,481		28,166
Westlake Automobile Receivables Trust Series 2021-3A, Class D, 2.12%, 1/15/2027 (a)		42,655		42,737

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
World Financial Network Credit Card Master Trust Series 2019-A, Class A, 3.14%, 12/15/2025		34,790		34,999
World Omni Auto Receivables Trust Series 2018-B, Class A3, 2.87%, 7/17/2023		1,855		1,862
TOTAL ASSET-BACKED SECURITIES (Cost $3,334,835)				3,366,059
COMMERCIAL MORTGAGE-BACKED SECURITIES — 6.6%
20 Times Square Trust
Series 2018-20TS, Class D, 3.20%, 5/15/2035 ‡ (a) (i)		21,000		20,465
Series 2018-20TS, Class E, 3.20%, 5/15/2035 ‡ (a) (i)		13,399		12,922
BAMLL Commercial Mortgage Securities Trust
Series 2012-PARK, Class A, 2.96%, 12/10/2030 (a)		7,026		7,159
Series 2014-520M, Class C, 4.35%, 8/15/2046 ‡ (a) (i)		7,700		8,360
BAMLL Re-REMIC Trust
Series 2014-FRR5, Class AK30, PO, 6/27/2045 (a)		3,200		3,100
Series 2016-FR13, Class A, 1.49%, 8/27/2045 (a) (i)		9,619		9,576
Series 2015-FR11, Class AK25, 2.43%, 9/27/2045 (a) (i)		7,484		7,498
Bancorp Commercial Mortgage Trust Series 2019-CRE5, Class D, 2.44%, 3/15/2036 ‡ (a) (i)		6,700		6,655
BB-UBS Trust Series 2012-SHOW, Class A, 3.43%, 11/5/2036 (a)		46,923		48,770
Bear Stearns Commercial Mortgage Securities Trust
Series 2006-PW14, Class X1, IO, 0.62%, 12/11/2038 ‡ (a) (i)		653		—	(j)
Series 2007-T26, Class X1, IO, 0.01%, 1/12/2045 ‡ (a) (i)		92,083		3
Cascade Funding Mortgage Trust
Series 2021-FRR1, Class AK45, 1.95%, 2/28/2025 (a)		13,760		13,455
Series 2021-FRR1, Class BKW1, 1.72%, 1/29/2026 (a)		14,340		13,522
Series 2021-FRR1, Class AKW1, 2.08%, 1/29/2026 (a)		16,010		15,552
Series 2021-FRR1, Class AK54, 1.86%, 2/28/2026 (a)		14,570		13,799
Series 2021-FRR1, Class AK98, 8/29/2029 (a)		22,370		17,205
Series 2021-FRR1, Class AK58, 2.41%, 9/29/2029 (a)		28,730		27,371
CD Mortgage Trust Series 2006-CD3, Class XS, IO, 0.18%, 10/15/2048 ‡ (a) (i)		794		—	(j)
Commercial Mortgage Trust
Series 2013-300P, Class A1, 4.35%, 8/10/2030 (a)		4,484		4,662
Series 2018-HOME, Class A, 3.94%, 4/10/2033 (a) (i)		53,745		58,448
Series 2013-SFS, Class A2, 3.09%, 4/12/2035 (a) (i)		6,150		6,245
Series 2020-CBM, Class A2, 2.90%, 2/10/2037 (a)		7,550		7,666
Series 2020-CBM, Class B, 3.10%, 2/10/2037 ‡ (a)		14,250		14,339
Series 2012-CR2, Class XA, IO, 1.77%, 8/15/2045 ‡ (i)		22,138		65
Series 2014-CR19, Class A5, 3.80%, 8/10/2047		13,800		14,619
Series 2015-CR24, Class A5, 3.70%, 8/10/2048		9,250		9,879
Series 2015-CR25, Class A4, 3.76%, 8/10/2048		17,593		18,856
Credit Suisse Commercial Mortgage Trust Series 2007-C2, Class AX, IO, 0.05%, 1/15/2049 ‡ (a) (i)		15,700		—	(j)
CSAIL Commercial Mortgage Trust
Series 2017-CX10, Class UESA, 4.03%, 10/15/2032 (a)		29,490		30,071
Series 2017-CX10, Class UESC, 4.38%, 10/15/2032 ‡ (a) (i)		4,929		4,860
CSMC OA LLC
Series 2014-USA, Class A2, 3.95%, 9/15/2037 (a)		2,600		2,746
Series 2014-USA, Class D, 4.37%, 9/15/2037 ‡ (a)		16,830		15,746
DBWF Mortgage Trust Series 2015-LCM, Class A2, 3.54%, 6/10/2034 (a) (i)		4,000		4,072
FHLMC Multifamily WI Certificates Series K137, Class AM, 1.98%, 2/25/2032		29,800		30,065
FHLMC, Multi-Family Structured Pass-Through Certificates
Series KJ09, Class A2, 2.84%, 9/25/2022		4,505		4,554
Series KS01, Class A2, 2.52%, 1/25/2023		11,130		11,254
Series KSMC, Class A2, 2.62%, 1/25/2023		16,500		16,880
Series K038, Class A2, 3.39%, 3/25/2024		20,914		21,965
Series K731, Class AM, 3.60%, 2/25/2025 (i)		32,000		33,777
Series KPLB, Class A, 2.77%, 5/25/2025		2,314		2,432
Series KLU2, Class A7, 2.23%, 9/25/2025 (i)		21,900		22,594
Series KJ17, Class A2, 2.98%, 11/25/2025		23,285		24,436
Series K052, Class A2, 3.15%, 11/25/2025		23,597		25,183

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series K737, Class AM, 2.10%, 10/25/2026		24,520		25,172
Series K061, Class AM, 3.44%, 11/25/2026 (i)		20,000		21,867
Series K065, Class A2, 3.24%, 4/25/2027		21,719		23,652
Series K065, Class AM, 3.33%, 5/25/2027		11,657		12,728
Series K066, Class A2, 3.12%, 6/25/2027		8,171		8,857
Series K069, Class A2, 3.19%, 9/25/2027 (i)		48,115		52,528
Series K070, Class A2, 3.30%, 11/25/2027 (i)		17,323		19,038
Series K072, Class A2, 3.44%, 12/25/2027		14,689		16,283
Series K072, Class AM, 3.50%, 12/25/2027 (i)		19,000		21,080
Series W5FX, Class AFX, 3.34%, 4/25/2028 (i)		21,769		23,787
Series K081, Class A2, 3.90%, 8/25/2028 (i)		13,531		15,464
Series K082, Class AM, 3.92%, 9/25/2028 (i)		12,035		13,751
Series K087, Class A2, 3.77%, 12/25/2028		4,150		4,718
Series K088, Class A2, 3.69%, 1/25/2029		355		402
Series K115, Class XAM, IO, 1.65%, 7/25/2030 (i)		44,581		5,399
Series K118, Class XAM, IO, 1.26%, 9/25/2030 (i)		21,865		2,071
Series Q013, Class APT2, 1.25%, 5/25/2050 (i)		19,783		19,461
FNMA ACES
Series 2013-M9, Class A2, 2.39%, 1/25/2023 (i)		3,516		3,568
Series 2013-M13, Class A2, 2.63%, 4/25/2023 (i)		1,084		1,103
Series 2014-M2, Class A2, 3.51%, 12/25/2023 (i)		8,120		8,475
Series 2014-M3, Class A2, 3.50%, 1/25/2024 (i)		10,971		11,451
Series 2014-M9, Class A2, 3.10%, 7/25/2024 (i)		2,786		2,911
Series 2014-M13, Class A2, 3.02%, 8/25/2024 (i)		8,031		8,383
Series 2015-M1, Class A2, 2.53%, 9/25/2024		10,523		10,865
Series 2015-M3, Class A2, 2.72%, 10/25/2024		12,936		13,361
Series 2015-M7, Class A2, 2.59%, 12/25/2024		5,423		5,608
Series 2015-M2, Class A3, 3.12%, 12/25/2024 (i)		8,703		9,103
Series 2015-M8, Class A2, 2.90%, 1/25/2025 (i)		10,000		10,427
Series 2016-M1, Class A2, 2.94%, 1/25/2026 (i)		59,994		63,385
Series 2016-M11, Class A2, 2.37%, 7/25/2026 (i)		96,850		100,467
Series 2017-M3, Class A2, 2.55%, 12/25/2026 (i)		10,167		10,642
Series 2015-M10, Class A2, 3.09%, 4/25/2027 (i)		56,734		61,008
Series 2017-M8, Class A2, 3.06%, 5/25/2027 (i)		33,600		36,185
Series 2017-M12, Class A2, 3.17%, 6/25/2027 (i)		38,610		41,603
Series 2017-M15, Class A2, 3.06%, 9/25/2027 (i)		10,000		10,775
Series 2018-M2, Class A2, 3.00%, 1/25/2028 (i)		22,000		23,602
Series 2018-M4, Class A2, 3.16%, 3/25/2028 (i)		23,856		25,798
Series 2018-M9, Class APT2, 3.22%, 4/25/2028 (i)		95,618		104,005
Series 2018-M8, Class A2, 3.44%, 6/25/2028 (i)		35,260		38,776
Series 2018-M10, Class A2, 3.48%, 7/25/2028 (i)		45,168		49,758
Series 2019-M1, Class A2, 3.67%, 9/25/2028 (i)		34,615		38,798
Series 2020-M38, Class 2A1, 1.59%, 11/25/2028		12,720		12,620
Series 2020-M38, Class X2, IO, 2.11%, 11/25/2028 (i)		54,000		6,300
Series 2019-M7, Class A2, 3.14%, 4/25/2029		41,965		45,970
Series 2017-M5, Class A2, 3.22%, 4/25/2029 (i)		7,544		8,262
Series 2017-M11, Class A2, 2.98%, 8/25/2029		14,669		15,920
Series 2020-M5, Class A2, 2.21%, 1/25/2030		46,000		47,579
Series 2018-M3, Class A2, 3.19%, 2/25/2030 (i)		17,874		19,633
Series 2020-M50, Class A1, 0.67%, 10/25/2030		27,313		26,598
Series 2020-M50, Class A2, 1.20%, 10/25/2030		12,140		11,850
Series 2020-M50, Class X1, IO, 2.01%, 10/25/2030 (i)		198,673		20,640
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033		29,829		29,490
Series 2021-M3, Class X1, IO, 2.12%, 11/25/2033 (i)		155,959		20,391
Series 2019-M10, Class X, IO, 1.07%, 5/25/2049 (i)		90,760		6,438
FREMF Mortgage Trust
Series 2017-K727, Class B, 3.87%, 7/25/2024 (a) (i)		27,500		28,863
Series 2018-KSL1, Class B, 3.96%, 11/25/2025 (a) (i)		10,011		10,097
Series 2019-KL05, Class BP, 4.09%, 6/25/2029 (a) (i)		5,645		5,787
Series 2020-KHG2, Class B, 3.17%, 2/25/2030 (a) (i)		13,500		13,510

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2018-KW07, Class B, 4.22%, 10/25/2031 (a) (i)		5,000		5,296
Series 2015-K44, Class B, 3.80%, 1/25/2048 (a) (i)		769		812
Series 2015-K45, Class B, 3.71%, 4/25/2048 (a) (i)		11,025		11,617
Series 2015-K47, Class B, 3.71%, 6/25/2048 (a) (i)		5,000		5,289
Series 2015-K51, Class B, 4.09%, 10/25/2048 (a) (i)		10,000		10,721
Series 2016-K56, Class B, 4.08%, 6/25/2049 (a) (i)		8,451		9,130
Series 2016-K722, Class B, 3.99%, 7/25/2049 (a) (i)		21,565		22,321
Series 2017-K67, Class B, 4.08%, 9/25/2049 (a) (i)		8,500		9,217
Series 2017-K729, Class B, 3.80%, 11/25/2049 (a) (i)		8,000		8,402
Series 2017-K63, Class B, 4.00%, 2/25/2050 (a) (i)		20,000		21,576
Series 2019-K102, Class B, 3.65%, 12/25/2051 (a) (i)		6,000		6,327
Series 2019-K90, Class B, 4.46%, 2/25/2052 (a) (i)		8,500		9,525
Series 2020-K737, Class B, 3.41%, 1/25/2053 (a) (i)		10,000		10,527
Independence Plaza Trust Series 2018-INDP, Class A, 3.76%, 7/10/2035 (a)		36,250		37,593
INVH Series 2021-SFR1, 2.50%, 1/25/2024 ‡		35,000		35,000
JPMCC Re-REMIC Trust Series 2015-FRR2, Class AK36, 2.13%, 12/27/2046 (a) (i)		14,610		14,523
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2005-CB11, Class X1, IO, 0.23%, 8/12/2037 ‡ (a) (i)		7,269		—	(j)
Series 2006-CB15, Class X1, IO, 0.38%, 6/12/2043 ‡ (i)		11,858		—	(j)
Series 2007-LD12, Class X, IO, 0.00%, 2/15/2051 ‡ (i)		7,306		—	(j)
Ladder Capital Commercial Mortgage Trust Series 2013-GCP, Class A2, 3.99%, 2/15/2036 (a)		8,924		9,766
LB-UBS Commercial Mortgage Trust Series 2007-C2, Class XW, IO, 0.16%, 2/15/2040 ‡ (i)		1,808		—	(j)
MHC Commercial Mortgage Trust Series 2021-MHC, Class E, 2.19%, 4/15/2038 ‡ (a) (i)		15,700		15,666
ML-CFC Commercial Mortgage Trust Series 2006-4, Class XC, IO, 1.37%, 12/12/2049 ‡ (a) (i)		155		—	(j)
Morgan Stanley Capital I Trust
Series 2006-IQ12, Class X1, IO, 0.24%, 12/15/2043 ‡ (a) (i)		1,463		1
Series 2007-IQ13, Class X, IO, 0.64%, 3/15/2044 ‡ (a) (i)		3,507		—	(j)
MRCD MARK Mortgage Trust
Series 2019-PARK, Class A, 2.72%, 12/15/2036 (a)		38,560		39,214
Series 2019-PARK, Class E, 2.72%, 12/15/2036 ‡ (a)		81,600		79,928
RBS Commercial Funding, Inc. Trust Series 2013-SMV, Class A, 3.26%, 3/11/2031 (a)		4,450		4,515
SBALR Commercial Mortgage Trust
Series 2020-RR1, Class A3, 2.83%, 2/13/2053 (a)		24,215		24,790
Series RR Trust
Series 2014-1, Class B, PO, 5/25/2047 (a)		8,260		7,632
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (a)		67,015		68,778
UBS Commercial Mortgage Trust Series 2012-C1, Class XA, IO, 2.17%, 5/10/2045 (a) (i)		5,588		1
UBS-BAMLL Trust Series 2012-WRM, Class A, 3.66%, 6/10/2030 (a)		15,527		15,570
UBS-Barclays Commercial Mortgage Trust
Series 2013-C6, Class A4, 3.24%, 4/10/2046		2,357		2,411
Series 2012-C2, Class XA, IO, 1.43%, 5/10/2063 ‡ (a) (i)		42,734		155
Series 2012-C2, Class A4, 3.53%, 5/10/2063		9,327		9,394
VNDO Mortgage Trust Series 2012-6AVE, Class A, 3.00%, 11/15/2030 (a)		11,148		11,335
Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Class XC, IO, 0.00%, 3/15/2045 ‡ (a) (i)		2,829		—	(j)
Wells Fargo Commercial Mortgage Trust Series 2015-C30, Class A4, 3.66%, 9/15/2058		8,751		9,349
Wells Fargo Re-REMIC Trust Series 2013-FRR1, Class AK20, PO, 5/27/2045 (a)		8,000		7,943
WFRBS Commercial Mortgage Trust Series 2013-C11, Class D, 4.38%, 3/15/2045 ‡ (a) (i)		2,500		2,472
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost $2,332,300)				2,443,885
FOREIGN GOVERNMENT SECURITIES — 0.5%
Kingdom of Saudi Arabia (Saudi Arabia)
2.25%, 2/2/2033 (a)		10,140		9,797
3.45%, 2/2/2061 (a)		4,399		4,361

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Republic of Chile (Chile) 2.55%, 1/27/2032		9,568		9,522
Republic of Colombia (Colombia)
4.00%, 2/26/2024		6,987		7,213
4.50%, 1/28/2026		3,811		3,993
7.38%, 9/18/2037		1,400		1,636
5.63%, 2/26/2044		941		921
5.00%, 6/15/2045		3,979		3,623
5.20%, 5/15/2049		10,179		9,478
3.88%, 2/15/2061		5,000		3,799
Republic of Panama (Panama)
3.16%, 1/23/2030		8,850		9,048
4.50%, 4/16/2050		5,100		5,455
Republic of Peru (Peru) 5.63%, 11/18/2050		737		1,002
Republic of South Africa (South Africa) 5.88%, 9/16/2025		3,502		3,857
United Arab Emirates Government Bond (United Arab Emirates) 2.88%, 10/19/2041 (a)		15,748		15,709
United Mexican States (Mexico)
4.13%, 1/21/2026		5,155		5,658
3.75%, 1/11/2028		22,959		24,635
2.66%, 5/24/2031		20,674		19,948
4.75%, 3/8/2044		3,906		4,192
4.60%, 1/23/2046		15,089		15,818
4.35%, 1/15/2047		4,228		4,300
4.60%, 2/10/2048		1,928		2,016
4.50%, 1/31/2050		14,225		14,686
3.77%, 5/24/2061		11,682		10,527
5.75%, 10/12/2110		5,118		5,781
TOTAL FOREIGN GOVERNMENT SECURITIES (Cost $198,595)				196,975
MUNICIPAL BONDS — 0.4% (m)
California — 0.1%
City of Los Angeles Department of Airports, Federally Taxable Build America Bonds Direct Payment to Issuer Series 2009C, Rev., 6.58%, 5/15/2039		3,060		4,110
Regents of the University of California Medical Center Pooled Series 2020N, Rev., 3.71%, 5/15/2120		21,120		24,138
State of California, Build America Bonds GO, 7.30%, 10/1/2039		2,400		3,834
Total California				32,082
New York — 0.1%
New York State Dormitory Authority, State Personal Income Tax, Build America Bonds, General Purpose Series 2010-D, Rev., 5.60%, 3/15/2040		2,240		3,070
Port Authority of New York and New Jersey, Consolidated
Series 164, Rev., 5.65%, 11/1/2040		10,965		15,470
Series 165, Rev., 5.65%, 11/1/2040		3,780		5,333
Series 174, Rev., 4.46%, 10/1/2062		17,925		24,550
Total New York				48,423
Ohio — 0.2%
American Municipal Power, Inc., Meldahl Hydroelectric Project Series 2010B, Rev., 7.50%, 2/15/2050		11,725		19,709
County of Franklin, Hospital Facilities, Nationwide Children’s Hospital Project Rev., 2.88%, 11/1/2050		4,675		4,846
County of Hamilton, Healthcare Facilities, The Christ Hospital Rev., AGM, 3.76%, 6/1/2042		16,870		18,925
Ohio State University (The), General Receipts
Series 2016A, Rev., 4.05%, 12/1/2056		3,478		4,675
Series 2011-A, Rev., 4.80%, 6/1/2111		9,576		15,261
Rev., 5.59%, 12/1/2114		5,822		9,347
Total Ohio				72,763
Pennsylvania — 0.0%(b)
Chester County Health and Education Facilities Authority, Main Line Health System Rev., 3.31%, 6/1/2051		11,130		12,384
TOTAL MUNICIPAL BONDS (Cost $127,487)				165,652
U.S. GOVERNMENT AGENCY SECURITIES — 0.4%
Israel Government AID Bond (Israel)
5.50%, 12/4/2023		7,240		7,935
2.09%, 11/1/2024 (h)		5,000		4,827
5.50%, 9/18/2033		6,771		9,465
Resolution Funding Corp. STRIPS
DN, 3.15%, 1/15/2030 (h)		30,700		26,991
DN, 2.85%, 4/15/2030 (h)		26,456		23,123
Tennessee Valley Authority
5.88%, 4/1/2036		31,814		47,060
5.50%, 6/15/2038		493		731
4.63%, 9/15/2060		4,157		6,428
4.25%, 9/15/2065		2,604		3,859
Tennessee Valley Authority STRIPS
DN, 4.28%, 11/1/2025 (h)		17,495		16,614
DN, 5.75%, 7/15/2028 (h)		3,119		2,816

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
DN, 3.82%, 12/15/2028 (h)		3,500		3,146
DN, 5.19%, 6/15/2035 (h)		2,242		1,676
TOTAL U.S. GOVERNMENT AGENCY SECURITIES (Cost $136,575)				154,671
SHORT-TERM INVESTMENTS — 6.2%
INVESTMENT COMPANIES — 6.2%
JPMorgan Prime Money Market Fund Class Institutional Shares, 0.05% (n) (o) (Cost $2,292,251)		2,291,668		2,292,584
Total Investments — 102.7% (Cost $36,779,077)				38,011,360
Liabilities in Excess of Other Assets — (2.7)%				(1,006,363	)
Net Assets — 100.0%				37,004,997

Percentages indicated are based on net assets.

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Abbreviations
ACES	Alternative Credit Enhancement Securities
AGM	Insured by Assured Guaranty Municipal Corp.
ARM	Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of November 30, 2021.
CSMC	Credit Suisse Mortgage Trust
DN	Discount Notes
FHLMC	Federal Home Loan Mortgage Corp.
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
GO	General Obligation
HB	High Coupon Bonds (a.k.a. “IOettes”) represent the right to receive interest payments on an underlying pool of mortgages with similar features as those associated with IO securities. Unlike IO’s the owner also has a right to receive a very small portion of principal. The high interest rates result from taking interest payments from other classes in the Real Estate Mortgage Investment Conduit trust and allocating them to the small principal of the HB class.
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 November 30, 2021. 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.
LIBOR	London Interbank Offered Rate
PO	Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases.
REIT	Real Estate Investment Trust
REMIC	Real Estate Mortgage Investment Conduit
Re-REMIC	Combined Real Estate Mortgage Investment Conduit
Rev.	Revenue
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

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

(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 November 30, 2021.
(d)	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.
(e)	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 November 30, 2021.
(f)	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 November 30, 2021.
(g)	Security is an interest bearing note with preferred security characteristics.
(h)	The rate shown is the effective yield as of November 30, 2021.
(i)	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 November 30, 2021.
(j)	Amount rounds to less than one thousand.
(k)	All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(l)	Defaulted security.
(m)	The date shown represents the earliest of the prerefunded date, next put date or final maturity date.
(n)	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.
(o)	The rate shown is the current yield as of November 30, 2021.
‡	Value determined using significant unobservable inputs.

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (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.

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.

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 November 30, 2021.

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.

JPMorgan Core Bond Fund

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

(Dollar values in thousands)

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
Asset-Backed Securities	$	—	$	2,654,616	$	711,443	$	3,366,059
Collateralized Mortgage Obligations		—		3,179,626		639,945		3,819,571
Commercial Mortgage-Backed Securities		—		2,227,248		216,637		2,443,885
Corporate Bonds		—		10,606,221		—		10,606,221
Foreign Government Securities		—		196,975		—		196,975
Mortgage-Backed Securities		—		5,511,961		—		5,511,961
Municipal Bonds		—		165,652		—		165,652
U.S. Government Agency Securities		—		154,671		—		154,671
U.S. Treasury Obligations		—		9,453,781		—		9,453,781
Short-Term Investments
Investment Companies		2,292,584		—		—		2,292,584
Total Investments in Securities	$	2,292,584	$	34,150,751	$	1,568,025	$	38,011,360

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

	Balance as of  February 28, 2021		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 November 30, 2021
Investments in Securities:
Asset-Backed Securities	$	1,040,691	$	—	(a)	$	(8,828	)	$	(1,123	)	$	149,430	$	(502,726	)	$	37,350	$	(3,351	)	$	711,443
Collateralized Mortgage Obligations		744,973		—	(a)		(3,943	)		(1,620	)		344,436		(348,847	)		—		(95,054	)		639,945
Commercial Mortgage-Backed Securities		188,346		—			(1,198	)		(682	)		50,924		(20,753	)		—		—			216,637
Total	$	1,974,010	$	—	(a)	$	(13,969	)	$	(3,425	)	$	544,790	$	(872,326	)	$	37,350	$	(98,405	)	$	1,568,025

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 November 30, 2021, which were valued using significant unobservable inputs (level 3) amounted to $(21,279).

There were no significant transfers into or out of level 3 for the period ended November 30, 2021.

The significant unobservable inputs used in the fair value measurement of the Fund’s investments are listed below. 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 enterprise multiples may increase (decrease) the fair value measurement. Significant increases (decreases) in the discount for lack of marketability, liquidity discount, probability of default, yield and default rate may decrease (increase) the fair value measurement. A significant change in the discount rate or prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

Core Bond Fund Quantitative Information about Level 3 Fair Value Measurements #

	Fair Value at November 30, 2021		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (a)
	$	508,619	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 35.00% (5.18%)
				Constant Default Rate		0.00% - 4.92% 6.69%)
				Yield (Discount Rate of Cash Flows)		1.00% - 5.55% (2.81%)
Asset-Backed Securities		508,619
		179,400	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 100.00% (96.62%)
				Constant Default Rate		0.00% - 6.69% (0.13%)
				Yield (Discount Rate of Cash Flows)		1.43% - 26.68% (2.66%)
Collateralized Mortgage Obligations		179,400
		181,636	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 100.00% (0.12%)
				Yield (Discount Rate of Cash Flows)		(1.07)% - 6.66% (4.03%)
Commercial Mortgage-Backed Securities		181,636
Total	$	869,655

# The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At November 30 2021, the value of these investments was $698,370. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2.A.

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

B. Investment Transactions with Affiliates —  The Fund invested in an Underlying Fund, which is advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer. The Underlying Fund’s distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amount in the table below.

For the period ended November 30, 2021
Security Description	Value at February 28, 2021		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)			Change in Unrealized Appreciation/ (Depreciation)			Value at November 30, 2021		Shares at November 30, 2021		Dividend Income		Capital Gain Distributions
JPMorgan Prime Money Market Fund Class Institutional Shares, 0.05%(a)(b)	$	2,462,073	$	10,112,563	$	10,281,806	$	(92	)	$	(154	)	$	2,292,584		2,291,668	$	934	$	—

(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 November 30, 2021.