NPORT-EX 2 JPMIBF.htm PART F EDGAR HTML
JPMorgan Investor Balanced Fund
Schedule of Portfolio Investments as of March 31, 2026
(Unaudited) 
THE “UNAUDITED MUTUAL FUNDS HOLDINGS” LIST (“the
List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS
NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR
SALES LITERATURE WITH THE GENERAL PUBLIC. The list is
submitted for the general information of the shareholders of the Fund.
It is not authorized for distribution to prospective investors in the Fund
unless preceded or accompanied by a prospectus. The list has been
created from the books and records of the Fund. Holdings are
available 60 days after the fund’s fiscal quarter, using a trade date
accounting convention, by contacting the appropriate service center.
The list is subject to change without notice. The list is for
informational purposes only and is not intended as an offer or
solicitation with respect to the purchase or sale of any security.
JPMorgan Asset Management is the marketing name for the asset
management business of J.P. Morgan Chase & Co.
J.P. Morgan Distribution Services, Inc., member FINRA.
© J.P. Morgan Chase & Co., 2026.
JPMorgan Investor Balanced Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2026 (Unaudited)
 
INVESTMENTS
SHARES
(000)
VALUE
($000)
Investment Companies — 85.5%
Fixed Income — 46.0%
JPMorgan Core Bond Fund Class R6 Shares (a)
124,648
1,290,101
JPMorgan Core Plus Bond Fund Class R6 Shares (a)
94,595
685,816
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a)
9,158
59,251
JPMorgan High Yield Fund Class R6 Shares (a)
23,390
151,802
JPMorgan Income Fund Class R6 Shares (a)
35,843
305,025
JPMorgan Short Duration Core Plus Fund Class R6 Shares (a)
8,693
81,715
Total Fixed Income
2,573,710
International Equity — 4.5%
JPMorgan Emerging Markets Equity Fund Class R6 Shares (a)
1,235
53,853
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a)
3,401
74,403
JPMorgan Europe Dynamic Fund Class R6 Shares (a)
1,449
59,895
JPMorgan International Equity Fund Class R6 Shares (a)
3,039
67,659
Total International Equity
255,810
U.S. Equity — 35.0%
JPMorgan Equity Income Fund Class R6 Shares (a)
7,058
176,668
JPMorgan Large Cap Growth Fund Class R6 Shares (a)
3,606
285,280
JPMorgan Large Cap Value Fund Class R6 Shares (a)
10,793
226,225
JPMorgan Mid Cap Growth Fund Class R6 Shares * (a)
1,520
74,113
JPMorgan Small Cap Equity Fund Class R6 Shares (a)
573
25,342
JPMorgan Small Cap Value Fund Class R6 Shares (a)
1,046
30,861
JPMorgan U.S. Equity Fund Class R6 Shares (a)
18,795
469,311
JPMorgan U.S. GARP Equity Fund Class R6 Shares (a)
2,319
199,703
JPMorgan U.S. Research Enhanced Equity Fund Class R6 Shares (a)
6,385
290,642
JPMorgan Value Advantage Fund Class R6 Shares (a)
4,952
180,056
Total U.S. Equity
1,958,201
Total Investment Companies
(Cost $3,828,120)
4,787,721
Exchange-Traded Funds — 13.6%
Alternative Assets — 0.9%
JPMorgan Flexible Debt ETF (a)
963
47,822
Fixed Income — 2.0%
JPMorgan Limited Duration Bond ETF (a)
2,168
113,150
International Equity — 7.7%
JPMorgan Global Select Equity ETF (a)
2,116
138,128
JPMorgan International Research Enhanced Equity ETF (a)
3,893
294,833
Total International Equity
432,961
U.S. Equity — 3.0%
JPMorgan Small & Mid Cap Enhanced Equity ETF (a)
2,532
169,085
Total Exchange-Traded Funds
(Cost $538,592)
763,018
JPMorgan Investor Balanced Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2026 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Short-Term Investments — 1.0%
Investment Companies — 1.0%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.60% (a) (b)
(Cost $53,816)
53,816
53,816
Total Investments — 100.1%
(Cost $4,420,528)
5,604,555
Liabilities in Excess of Other Assets — (0.1)%
(7,323
)
NET ASSETS — 100.0%
5,597,232
 
Percentages indicated are based on net assets.
 
Abbreviations
 
ETF
Exchange Traded Fund
 
*
Non-income producing security.
(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 March 31, 2026.
Detailed information about investment portfolios of the Underlying Funds, as defined in the Notes to Financial Statements, and ETFs can be found in the financial statements filed with the Securities and Exchange Commission (SEC) by each such underlying fund semi-annually on Form N-CSR and in portfolio holdings filed quarterly on Form N-PORT, and are available for download from both the SEC’s as well as each respective underlying fund’s website. Detailed information about Underlying J.P. Morgan Funds can also be found at www.jpmorganfunds.com or by calling 1-800-480-4111.
JPMorgan Investor Balanced Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2026 (Unaudited) (continued)
(Dollar values in thousands)
A. Valuation of Investments— Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.
Under Section 2(a)(41) of the Investment Company Act of 1940 (the "1940 Act"), the Board is required to determine fair value for securities that do not have readily available market quotations. Pursuant to Rule 2a-5 under the 1940 Act (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Investments in open-end investment companies, excluding exchange-traded funds (“ETFs”) (“Underlying Funds”), are valued at each Underlying Fund’s net asset values per share as of the report date.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.
•
Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.
•
Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.
•
Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”): 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
Total Investments in Securities (a)
$5,604,555
$—
$—
$5,604,555
 
 
(a)
Please refer to the SOI for specifics of portfolio holdings.
B. Investment Transactions with Affiliates— The Fund invested in Underlying Funds and ETFs advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated
JPMorgan Investor Balanced Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2026 (Unaudited) (continued)
(Dollar values in thousands)
issuers. Underlying Funds’ and ETFs’ distributions may be reinvested into the Underlying Funds and ETFs. Reinvestment amounts are included in the purchases at cost amounts in the table below. 
 
For the period ended March 31, 2026
Security Description
Value at
June 30,
2025
Purchases at
Cost
Proceeds from
Sales
Net Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
(Depreciation)
Value at
March 31,
2026
Shares at
March 31,
2026
Dividend
Income
Capital Gain
Distributions
JPMorgan Core Bond Fund Class R6 Shares
 (a)
$1,236,450
$74,342
$21,384
$(2,708
)
$3,401
$1,290,101
124,648
$39,887
$—
JPMorgan Core Plus Bond Fund Class R6
Shares  (a)
638,431
49,702
2,800
(454
)
937
685,816
94,595
24,893
—
JPMorgan Emerging Markets Debt Fund
Class R6 Shares  (a)
55,096
2,800
—
—
1,355
59,251
9,158
2,800
—
JPMorgan Emerging Markets Equity Fund
Class R6 Shares  (a)
58,187
830
17,967
8,447
4,356
53,853
1,235
802
28
JPMorgan Emerging Markets Research
Enhanced Equity Fund Class R6 Shares  (a)
70,687
11,394
19,814
4,624
7,512
74,403
3,401
2,679
—
JPMorgan Equity Income Fund Class R6
Shares  (a)
169,595
17,442
9,283
152
(1,238
)
176,668
7,058
2,530
14,912
JPMorgan Europe Dynamic Fund Class R6
Shares  (a)
65,106
2,491
10,481
3,353
(574
)
59,895
1,449
2,492
—
JPMorgan Flexible Debt ETF  (a)
—
48,215
—
—
(393
)
47,822
963
1,004
—
JPMorgan Global Select Equity ETF  (a)
142,699
—
6,988
745
1,672
138,128
2,116
1,768
—
JPMorgan High Yield Fund Class R6 Shares
 (a)
209,519
9,964
65,997
(3,347
)
1,663
151,802
23,390
9,964
—
JPMorgan Income Fund Class R6 Shares  (a)
289,929
17,987
—
—
(2,891
)
305,025
35,843
13,384
—
JPMorgan International Equity Fund Class R6
Shares  (a)
69,576
4,654
6,418
759
(912
)
67,659
3,039
2,157
2,497
JPMorgan International Research Enhanced
Equity ETF  (a)
306,925
—
34,957
13,595
9,270
294,833
3,893
9,484
—
JPMorgan Large Cap Growth Fund Class R6
Shares  (a)
320,926
31,130
31,993
22,409
(57,192
)
285,280
3,606
788
30,342
JPMorgan Large Cap Value Fund Class R6
Shares  (a)
213,481
17,315
9,927
152
5,204
226,225
10,793
2,449
14,866
JPMorgan Limited Duration Bond ETF  (a)
155,685
—
42,587
833
(781
)
113,150
2,168
4,438
—
JPMorgan Mid Cap Growth Fund Class R6
Shares  (a) *
81,983
6,537
4,553
838
(10,692
)
74,113
1,520
—
6,538
JPMorgan Short Duration Core Plus Fund
Class R6 Shares  (a)
79,214
2,598
—
—
(97
)
81,715
8,693
2,598
—
JPMorgan Small & Mid Cap Enhanced Equity
ETF  (a)
152,533
—
2,935
927
18,560
169,085
2,532
1,835
—
JPMorgan Small Cap Equity Fund Class R6
Shares  (a)
25,864
4,107
—
—
(4,629
)
25,342
573
150
3,958
JPMorgan Small Cap Value Fund Class R6
Shares  (a)
25,589
2,491
—
—
2,781
30,861
1,046
206
2,285
JPMorgan U.S. Equity Fund Class R6 Shares
 (a)
452,532
67,356
30,255
9,940
(30,262
)
469,311
18,795
2,296
23,250
JPMorgan U.S. GARP Equity Fund Class R6
Shares  (a)
223,487
16,073
33,688
26,107
(32,276
)
199,703
2,319
656
15,417
JPMorgan U.S. Government Money Market
Fund Class IM Shares, 3.60%  (a) (b)
60,121
280,870
287,175
—
—
53,816
53,816
1,712
—
JPMorgan U.S. Research Enhanced Equity
Fund Class R6 Shares  (a)
285,041
29,274
23,563
3,249
(3,359
)
290,642
6,385
2,027
13,158
JPMorgan Investor Balanced Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2026 (Unaudited) (continued)
(Dollar values in thousands)
 
For the period ended March 31, 2026
Security Description
Value at
June 30,
2025
Purchases at
Cost
Proceeds from
Sales
Net Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
(Depreciation)
Value at
March 31,
2026
Shares at
March 31,
2026
Dividend
Income
Capital Gain
Distributions
JPMorgan Unconstrained Debt Fund Class R6
Shares  (a)
$47,141
$589
$48,215
$—
$485
$—
—
$589
$—
JPMorgan Value Advantage Fund Class R6
Shares  (a)
170,114
21,050
—
—
(11,108
)
180,056
4,952
2,988
18,061
Total
$5,605,911
$719,211
$710,980
$89,621
$(99,208
)
$5,604,555
$136,576
$145,312
 
 
(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 March 31, 2026.
*
Non-income producing security.