UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-08189
J.P. Morgan Fleming Mutual Fund Group, Inc.
(Exact name of registrant as specified in charter)
245 Park Avenue
New York, NY 10167
(Address of principal executive offices) (Zip code)
Frank J. Nasta
245 Park Avenue
New York, NY 10167
(Name and Address of Agent for Service)
Registrant’s telephone number, including area code: (800) 480-4111
Date of fiscal year end: June 30
Date of reporting period: July 1, 2009 through June 30, 2010
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Section 3507.
ITEM 1. REPORTS TO STOCKHOLDERS.
The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).
JPMorgan Mid Cap Equity Fund
JPMorgan Mid Cap Growth Fund
JPMorgan Mid Cap Value Fund
JPMorgan Multi-Cap Market Neutral Fund
JPMorgan Value Advantage Fund
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/jpmorganlogo_k.jpg)
President’s Letter | 1 | |||||
Market Overview | 2 | |||||
Fund Commentaries: | ||||||
JPMorgan Growth Advantage Fund | 3 | |||||
JPMorgan Mid Cap Equity Fund | 6 | |||||
JPMorgan Mid Cap Growth Fund | 9 | |||||
JPMorgan Mid Cap Value Fund | 12 | |||||
JPMorgan Multi-Cap Market Neutral Fund | 15 | |||||
JPMorgan Value Advantage Fund | 18 | |||||
Schedules of Portfolio Investments | 21 | |||||
Financial Statements | 52 | |||||
Financial Highlights | 68 | |||||
Notes to Financial Statements | 80 | |||||
Report of Independent Registered Public Accounting Firm | 93 | |||||
Trustees | 94 | |||||
Officers | 96 | |||||
Schedule of Shareholder Expenses | 97 | |||||
Tax Letter | 100 | |||||
Privacy Policy | 101 |
JULY 16, 2010 (Unaudited)
![]() | “In response to these positive developments, market volatility declined considerably, and the stock market showed new signs of resilience.” |
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/georgecwgatch-sig.jpg)
President and CEO
J.P. Morgan Funds
J.P. Morgan Mid Cap/Multi-Cap Funds |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited)
JPMorgan Growth Advantage Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited)
REPORTING PERIOD RETURN: | ||||||
Fund (Class A Shares, without a sales charge)* | 14.97% | |||||
Russell 3000 Growth Index | 13.95% | |||||
Net Assets as of 6/30/2010 (In Thousands) | $799,125 |
JPMorgan Growth Advantage Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited) (continued)
1. | Apple, Inc. | 6.9 | % | |||||||
2. | Hewlett-Packard Co. | 2.1 | ||||||||
3. | Celgene Corp. | 2.1 | ||||||||
4. | Sherwin-Williams Co. (The) | 2.0 | ||||||||
5. | Cisco Systems, Inc. | 2.0 | ||||||||
6. | Google, Inc., Class A | 2.0 | ||||||||
7. | Express Scripts, Inc. | 1.9 | ||||||||
8. | Cognizant Technology Solutions Corp., Class A | 1.9 | ||||||||
9. | Microsoft Corp. | 1.8 | ||||||||
10. | W.W. Grainger, Inc. | 1.7 |
Information Technology | 34.9 | % | ||||
Consumer Discretionary | 15.2 | |||||
Health Care | 14.9 | |||||
Industrials | 13.0 | |||||
Financials | 8.3 | |||||
Energy | 6.4 | |||||
Materials | 3.9 | |||||
Consumer Staples | 2.3 | |||||
Telecommunication Services | 1.0 | |||||
Short-Term Investment | 0.1 |
* | The return shown is based on net asset value calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. |
** | The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
*** | Percentages indicated are based upon total investments (excluding Investments of Cash Collateral for Securities on Loan) as of June 30, 2010. The Fund’s composition is subject to change. |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLASS A SHARES | 10/29/99 | |||||||||||||||||
Without Sales Charge | 14.97 | % | 2.86 | % | (6.38 | )% | ||||||||||||
With Sales Charge* | 8.86 | 1.74 | (6.88 | ) | ||||||||||||||
CLASS B SHARES | 10/29/99 | |||||||||||||||||
Without CDSC | 14.34 | 2.20 | (6.90 | ) | ||||||||||||||
With CDSC** | 9.34 | 1.83 | (6.90 | ) | ||||||||||||||
CLASS C SHARES | 5/1/06 | |||||||||||||||||
Without CDSC | 14.31 | 2.23 | (6.98 | ) | ||||||||||||||
With CDSC*** | 13.31 | 2.23 | (6.98 | ) | ||||||||||||||
CLASS R5 SHARES | 1/8/09 | 15.51 | 3.14 | (6.25 | ) | |||||||||||||
SELECT CLASS SHARES | 5/1/06 | 15.18 | 3.08 | (6.28 | ) |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes 5% CDSC (contingent deferred sales charge) for the one year period, 2% CDSC for the five year period and 0% CDSC thereafter. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/d26919ga_line.jpg)
JPMorgan Mid Cap Equity Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited)
REPORTING PERIOD RETURN: | ||||||
Fund (Select Class Shares)* | 21.66% | |||||
Russell Midcap Index | 25.13% | |||||
Net Assets as of 6/30/2010 (In Thousands) | $464,937 |
1. | Lincare Holdings, Inc. | 1.5 | % | |||||||
2. | Sherwin-Williams Co. (The) | 1.5 | ||||||||
3. | Tyco Electronics Ltd. (Switzerland) | 1.4 | ||||||||
4. | Republic Services, Inc. | 1.1 | ||||||||
5. | Amphenol Corp., Class A | 1.1 | ||||||||
6. | Precision Castparts Corp. | 1.1 | ||||||||
7. | Biovail Corp. (Canada) | 1.1 | ||||||||
8. | Roper Industries, Inc. | 1.0 | ||||||||
9. | W.W. Grainger, Inc. | 1.0 | ||||||||
10. | Loews Corp. | 1.0 |
Consumer Discretionary | 17.5 | % | ||||
Information Technology | 16.6 | |||||
Financials | 15.8 | |||||
Industrials | 14.0 | |||||
Health Care | 9.9 | |||||
Energy | 5.8 | |||||
Utilities | 5.6 | |||||
Materials | 5.3 | |||||
Consumer Staples | 3.7 | |||||
Telecommunication Services | 1.7 | |||||
Investment Company | 1.0 | |||||
Short-Term Investment | 3.1 |
* | The return shown is based on net asset value calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. |
** | The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
*** | Percentages indicated are based upon total investments (excluding Investments of Cash Collateral for Securities on Loan) as of June 30, 2010. The Fund’s composition is subject to change. |
JPMorgan Mid Cap Equity Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLASS A SHARES | 11/2/09 | |||||||||||||||||
Without Sales Charge | 21.40 | % | 1.22 | % | 4.53 | % | ||||||||||||
With Sales Charge* | 15.04 | 0.14 | 3.97 | |||||||||||||||
CLASS C SHARES | 11/2/09 | |||||||||||||||||
Without CDSC | 21.00 | 1.15 | 4.50 | |||||||||||||||
With CDSC** | 20.00 | 1.15 | 4.50 | |||||||||||||||
SELECT CLASS SHARES | 1/1/97 | 21.66 | 1.27 | 4.55 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/d26919mce_line.jpg)
JPMorgan Mid Cap Growth Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited)
REPORTING PERIOD RETURN: | ||||||
Fund (Select Class Shares)* | 19.92% | |||||
Russell Midcap Growth Index | 21.30% | |||||
Net Assets as of 6/30/2010 (In Thousands) | $1,290,242 |
JPMorgan Mid Cap Growth Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited) (continued)
1. | Biovail Corp. (Canada) | 2.2 | % | |||||||
2. | Sherwin-Williams Co. (The) | 2.0 | ||||||||
3. | W.W. Grainger, Inc. | 2.0 | ||||||||
4. | Amdocs Ltd. (United Kingdom) | 1.9 | ||||||||
5. | Cognizant Technology Solutions Corp., Class A | 1.7 | ||||||||
6. | Hewitt Associates, Inc., Class A | 1.7 | ||||||||
7. | Goodrich Corp. | 1.6 | ||||||||
8. | Forest Oil Corp. | 1.6 | ||||||||
9. | Cummins, Inc. | 1.6 | ||||||||
10. | NetApp, Inc. | 1.5 |
Information Technology | 28.2 | % | ||||
Industrials | 18.5 | |||||
Consumer Discretionary | 18.0 | |||||
Health Care | 14.5 | |||||
Financials | 7.2 | |||||
Energy | 5.6 | |||||
Materials | 4.3 | |||||
Consumer Staples | 1.6 | |||||
Telecommunication Services | 1.3 | |||||
Short-Term Investment | 0.8 |
* | The return shown is based on net asset value calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. |
** | The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
*** | Percentages indicated are based upon total investments (excluding Investments of Cash Collateral for Securities on Loan) as of June 30, 2010. The Fund’s composition is subject to change. |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLASS A SHARES | 2/18/92 | |||||||||||||||||
Without Sales Charge | 19.53 | % | 1.22 | % | 0.19 | % | ||||||||||||
With Sales Charge* | 13.24 | 0.13 | (0.35 | ) | ||||||||||||||
CLASS B SHARES | 1/14/94 | |||||||||||||||||
Without CDSC | 18.91 | 0.61 | (0.37 | ) | ||||||||||||||
With CDSC** | 13.91 | 0.21 | (0.37 | ) | ||||||||||||||
CLASS C SHARES | 11/4/97 | |||||||||||||||||
Without CDSC | 18.90 | 0.61 | (0.48 | ) | ||||||||||||||
With CDSC*** | 17.90 | 0.61 | (0.48 | ) | ||||||||||||||
CLASS R2 SHARES | 6/19/09 | 19.30 | 1.06 | 0.01 | ||||||||||||||
SELECT CLASS SHARES | 3/2/89 | 19.92 | 1.50 | 0.46 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes 5% CDSC (contingent deferred sales charge) for the one year period, 2% CDSC for the five year period and 0% CDSC thereafter. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/d26919mcg_line.jpg)
JPMorgan Mid Cap Value Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited)
REPORTING PERIOD RETURN: | ||||||
Fund (Institutional Class Shares)* | 24.68% | |||||
Russell Midcap Value Index | 28.91% | |||||
Net Assets as of 6/30/2010 (In Thousands) | $5,088,730 |
1. | Republic Services, Inc. | 2.3 | % | |||||||
2. | Loews Corp. | 1.9 | ||||||||
3. | Lincare Holdings, Inc. | 1.9 | ||||||||
4. | Williams Cos., Inc. (The) | 1.8 | ||||||||
5. | Gap, Inc. (The) | 1.8 | ||||||||
6. | Old Republic International Corp. | 1.7 | ||||||||
7. | JM Smucker Co. (The) | 1.7 | ||||||||
8. | Energen Corp. | 1.7 | ||||||||
9. | Ball Corp. | 1.7 | ||||||||
10. | Tyco Electronics Ltd. (Switzerland) | 1.5 |
Financials | 25.0 | % | ||||
Consumer Discretionary | 17.9 | |||||
Utilities | 11.1 | |||||
Industrials | 9.9 | |||||
Materials | 6.8 | |||||
Energy | 6.5 | |||||
Information Technology | 5.9 | |||||
Consumer Staples | 5.8 | |||||
Health Care | 5.6 | |||||
Telecommunication Services | 2.4 | |||||
Short-Term Investment | 3.1 |
* | The return shown is based on net asset value calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. |
** | The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
*** | Percentages indicated are based upon total investments (excluding Investments of Cash Collateral for Securities on Loan) as of June 30, 2010. The Fund’s composition is subject to change. |
JPMorgan Mid Cap Value Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLASS A SHARES | 4/30/01 | |||||||||||||||||
Without Sales Charge | 24.08 | % | 0.78 | % | 9.02 | % | ||||||||||||
With Sales Charge* | 17.60 | (0.30 | ) | 8.43 | ||||||||||||||
CLASS B SHARES | 4/30/01 | |||||||||||||||||
Without CDSC | 23.44 | 0.26 | 8.51 | |||||||||||||||
With CDSC** | 18.44 | (0.14 | ) | 8.51 | ||||||||||||||
CLASS C SHARES | 4/30/01 | |||||||||||||||||
Without CDSC | 23.43 | 0.28 | 8.46 | |||||||||||||||
With CDSC*** | 22.43 | 0.28 | 8.46 | |||||||||||||||
CLASS R2 SHARES | 11/3/08 | 23.71 | 0.68 | 8.97 | ||||||||||||||
INSTITUTIONAL CLASS SHARES | 11/13/97 | 24.68 | 1.27 | 9.52 | ||||||||||||||
SELECT CLASS SHARES | 10/31/01 | 24.35 | 1.02 | 9.28 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes 5% CDSC (contingent deferred sales charge) for the one year period, 2% CDSC for the five year period and 0% CDSC thereafter. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/d26919mcv_line.jpg)
JPMorgan Multi-Cap Market Neutral Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited)
REPORTING PERIOD RETURN: | ||||||
Fund (Select Class Shares)* | (4.67)% | |||||
BofA Merrill Lynch 3-Month U.S. Treasury Bill Index | 0.16% | |||||
Net Assets as of 6/30/2010 (In Thousands) | $575,547 |
JPMorgan Multi-Cap Market Neutral Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited) (continued)
1. | Navistar International Corp. | 0.4 | % | |||||||
2. | WESCO International, Inc. | 0.4 | ||||||||
3. | Shaw Group, Inc. (The) | 0.4 | ||||||||
4. | Aeropostale, Inc. | 0.4 | ||||||||
5. | Forest Laboratories, Inc. | 0.4 | ||||||||
6. | Constellation Energy Group, Inc. | 0.4 | ||||||||
7. | Jarden Corp. | 0.4 | ||||||||
8. | RenaissanceRe Holdings Ltd., (Bermuda) | 0.4 | ||||||||
9. | Herbalife Ltd. (Cayman Islands) | 0.4 | ||||||||
10. | Noble Corp. (Switzerland) | 0.3 |
1. | American Tower Corp., Class A | 0.5 | % | |||||||
2. | O’Reilly Automotive, Inc. | 0.5 | ||||||||
3. | Yum! Brands, Inc. | 0.5 | ||||||||
4. | PACCAR, Inc. | 0.5 | ||||||||
5. | Spectra Energy Corp. | 0.5 | ||||||||
6. | Northeast Utilities | 0.5 | ||||||||
7. | Martin Marietta Materials, Inc. | 0.4 | ||||||||
8. | KeyCorp | 0.4 | ||||||||
9. | NetLogic Microsystems, Inc. | 0.4 | ||||||||
10. | EQT Corp. | 0.4 |
Consumer Discretionary | 18.3 | % | ||||
Information Technology | 13.6 | |||||
Financials | 11.4 | |||||
Industrials | 11.4 | |||||
Health Care | 8.8 | |||||
Materials | 6.2 | |||||
Energy | 5.7 | |||||
Utilities | 4.5 | |||||
Consumer Staples | 3.9 | |||||
Telecommunication Services | 1.3 | |||||
Short-Term Investment | 14.9 |
Information Technology | 17.0 | % | ||||
Industrials | 14.6 | |||||
Financials | 14.5 | |||||
Consumer Discretionary | 13.3 | |||||
Health Care | 10.5 | |||||
Energy | 9.2 | |||||
Consumer Staples | 6.8 | |||||
Materials | 6.6 | |||||
Utilities | 5.9 | |||||
Telecommunication Services | 1.6 |
* | The return shown is based on net asset value calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. |
** | The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
*** | Percentages indicated are based upon total long investments as of June 30, 2010. The Fund’s composition is subject to change. |
**** | Percentages indicated are based upon total short investments as of June 30, 2010. The Fund’s composition is subject to change. |
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLASS A SHARES | 5/23/03 | |||||||||||||||||
Without Sales Charge | (4.90 | )% | 0.17 | % | 1.58 | % | ||||||||||||
With Sales Charge* | (9.93 | ) | (0.91 | ) | 0.82 | |||||||||||||
CLASS B SHARES | 5/23/03 | |||||||||||||||||
Without CDSC | (5.69 | ) | (0.59 | ) | 0.82 | |||||||||||||
With CDSC** | (10.69 | ) | (1.00 | ) | 0.82 | |||||||||||||
CLASS C SHARES | 5/23/03 | |||||||||||||||||
Without CDSC | (5.59 | ) | (0.59 | ) | 0.83 | |||||||||||||
With CDSC*** | (6.59 | ) | (0.59 | ) | 0.83 | |||||||||||||
SELECT CLASS SHARES | 5/23/03 | (4.67 | ) | 0.41 | 1.84 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes 5% CDSC (contingent deferred sales charge) for the one year period, 2% CDSC for the five year period and 0% CDSC thereafter. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/d26919mcmn_line.jpg)
JPMorgan Value Advantage Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited)
REPORTING PERIOD RETURN: | ||||||
Fund (Institutional Class Shares)* | 29.03% | |||||
Russell 3000 Value Index | 17.57% | |||||
Net Assets as of 6/30/2010 (In Thousands) | $485,986 |
1. | Loews Corp. | 3.9 | % | |||||||
2. | Wells Fargo & Co. | 3.7 | ||||||||
3. | Devon Energy Corp. | 3.4 | ||||||||
4. | Exxon Mobil Corp. | 2.4 | ||||||||
5. | JM Smucker Co. (The) | 2.1 | ||||||||
6. | Gap, Inc. (The) | 2.1 | ||||||||
7. | Merck & Co., Inc. | 2.1 | ||||||||
8. | Teekay Corp. (Canada) | 2.0 | ||||||||
9. | AT&T, Inc. | 2.0 | ||||||||
10. | Oneok, Inc. | 1.9 |
Financials | 33.3 | % | ||||
Energy | 16.0 | |||||
Consumer Discretionary | 14.1 | |||||
Health Care | 10.1 | |||||
Consumer Staples | 6.0 | |||||
Utilities | 5.2 | |||||
Telecommunication Services | 3.9 | |||||
Information Technology | 2.6 | |||||
Industrials | 2.3 | |||||
Materials | 1.6 | |||||
Investment Company | 1.2 | |||||
Short-Term Investment | 3.7 |
* | The return shown is based on net asset value calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. |
** | The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
*** | Percentages indicated are based upon total investments as of June 30, 2010. The Fund’s composition is subject to change. |
JPMorgan Value Advantage Fund |
TWELVE MONTHS ENDED JUNE 30, 2010 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | SINCE INCEPTION | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLASS A SHARES | 2/28/05 | |||||||||||||||||
Without Sales Charge | 28.35 | % | 2.49 | % | 2.93 | % | ||||||||||||
With Sales Charge* | 21.56 | 1.39 | 1.89 | |||||||||||||||
CLASS C SHARES | 2/28/05 | |||||||||||||||||
Without CDSC | 27.72 | 1.99 | 2.42 | |||||||||||||||
With CDSC** | 26.72 | 1.99 | 2.42 | |||||||||||||||
INSTITUTIONAL CLASS SHARES | 2/28/05 | 29.03 | 2.90 | 3.35 | ||||||||||||||
SELECT CLASS SHARES | 2/28/05 | 28.70 | 2.77 | 3.20 |
* | Sales Charge for Class A Shares is 5.25%. |
** | Assumes a 1% CDSC (contingent deferred sales charge) for the one year period and 0% CDSC thereafter. |
![](https://capedge.com/proxy/N-CSR/0001145443-10-002061/d26919va_line.jpg)
JPMorgan Growth Advantage Fund |
AS OF JUNE 30, 2010
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — 99.9% | |||||||||||
Consumer Discretionary — 15.2% | |||||||||||
Auto Components — 2.0% | |||||||||||
417 | Gentex Corp. | 7,497 | |||||||||
322 | Johnson Controls, Inc. | 8,639 | |||||||||
16,136 | |||||||||||
Automobiles — 1.0% | |||||||||||
356 | Harley-Davidson, Inc. (c) | 7,916 | |||||||||
Diversified Consumer Services — 1.0% | |||||||||||
285 | Education Management Corp. (a) (c) | 4,342 | |||||||||
172 | Sotheby’s (c) | 3,931 | |||||||||
8,273 | |||||||||||
Hotels, Restaurants & Leisure — 0.8% | |||||||||||
267 | Royal Caribbean Cruises Ltd. (a) (c) | 6,084 | |||||||||
Household Durables — 1.0% | |||||||||||
271 | Harman International Industries, Inc. (a) (c) | 8,109 | |||||||||
Internet & Catalog Retail — 3.0% | |||||||||||
121 | Amazon.com, Inc. (a) | 13,210 | |||||||||
229 | HSN, Inc. (a) | 5,498 | |||||||||
51 | NetFlix, Inc. (a) (c) | 5,509 | |||||||||
24,217 | |||||||||||
Media — 1.7% | |||||||||||
424 | Walt Disney Co. (The) | 13,356 | |||||||||
Specialty Retail — 3.9% | |||||||||||
407 | Dick’s Sporting Goods, Inc. (a) (c) | 10,140 | |||||||||
149 | J Crew Group, Inc. (a) (c) | 5,488 | |||||||||
491 | OfficeMax, Inc. (a) (c) | 6,414 | |||||||||
356 | Williams-Sonoma, Inc. (c) | 8,846 | |||||||||
30,888 | |||||||||||
Textiles, Apparel & Luxury Goods — 0.8% | |||||||||||
145 | Phillips-Van Heusen Corp. | 6,691 | |||||||||
Total Consumer Discretionary | 121,670 | ||||||||||
Consumer Staples — 2.3% | |||||||||||
Beverages — 2.3% | |||||||||||
198 | Coca-Cola Co. (The) | 9,914 | |||||||||
223 | Dr. Pepper Snapple Group, Inc. | 8,338 | |||||||||
Total Consumer Staples | 18,252 | ||||||||||
Energy — 6.4% | |||||||||||
Energy Equipment & Services — 2.0% | |||||||||||
187 | Cameron International Corp. (a) | 6,097 | |||||||||
183 | Schlumberger Ltd. | 10,149 | |||||||||
16,246 | |||||||||||
Oil, Gas & Consumable Fuels — 4.4% | |||||||||||
201 | Concho Resources, Inc. (a) (c) | 11,094 | |||||||||
85 | EOG Resources, Inc. | 8,381 | |||||||||
360 | Forest Oil Corp. (a) | 9,855 | |||||||||
151 | Southwestern Energy Co. (a) | 5,823 | |||||||||
35,153 | |||||||||||
Total Energy | 51,399 | ||||||||||
Financials — 8.3% | |||||||||||
Capital Markets — 2.3% | |||||||||||
36 | BlackRock, Inc. | 5,091 | |||||||||
485 | Och-Ziff Capital Management Group LLC, Class A | 6,107 | |||||||||
157 | T. Rowe Price Group, Inc. (c) | 6,965 | |||||||||
18,163 | |||||||||||
Commercial Banks — 2.9% | |||||||||||
285 | �� | BB&T Corp. | 7,496 | ||||||||
341 | U.S. Bancorp | 7,623 | |||||||||
310 | Wells Fargo & Co. | 7,941 | |||||||||
23,060 | |||||||||||
Consumer Finance — 1.0% | |||||||||||
198 | American Express Co. | 7,865 | |||||||||
Diversified Financial Services — 1.2% | |||||||||||
35 | CME Group, Inc. | 9,713 | |||||||||
Insurance — 0.9% | |||||||||||
141 | ACE Ltd., (Switzerland) | 7,233 | |||||||||
Total Financials | 66,034 | ||||||||||
Health Care — 14.9% | |||||||||||
Biotechnology — 2.8% | |||||||||||
111 | Alexion Pharmaceuticals, Inc. (a) (c) (m) | 5,662 | |||||||||
335 | Celgene Corp. (a) | 17,014 | |||||||||
22,676 | |||||||||||
Health Care Equipment & Supplies — 2.3% | |||||||||||
355 | Insulet Corp. (a) (c) | 5,341 | |||||||||
122 | Sirona Dental Systems, Inc. (a) | 4,233 | |||||||||
198 | Thoratec Corp. (a) (c) | 8,461 | |||||||||
18,035 | |||||||||||
Health Care Providers & Services — 5.9% | |||||||||||
132 | DaVita, Inc. (a) | 8,255 | |||||||||
247 | Emeritus Corp. (a) (c) | 4,024 | |||||||||
324 | Express Scripts, Inc. (a) | 15,220 | |||||||||
273 | Lincare Holdings, Inc. (a) (c) | 8,867 | |||||||||
367 | UnitedHealth Group, Inc. | 10,426 | |||||||||
46,792 | |||||||||||
Pharmaceuticals — 3.9% | |||||||||||
608 | Biovail Corp., (Canada) (c) | 11,692 |
JPMorgan Growth Advantage Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Pharmaceuticals — Continued | |||||||||||
244 | Merck & Co., Inc. | 8,519 | |||||||||
213 | Teva Pharmaceutical Industries Ltd., (Israel), ADR | 11,084 | |||||||||
31,295 | |||||||||||
Total Health Care | 118,798 | ||||||||||
Industrials — 13.0% | |||||||||||
Aerospace & Defense — 2.8% | |||||||||||
146 | Goodrich Corp. | 9,686 | |||||||||
151 | HEICO Corp. (c) | 5,414 | |||||||||
72 | Precision Castparts Corp. | 7,364 | |||||||||
22,464 | |||||||||||
Airlines — 0.8% | |||||||||||
533 | Delta Air Lines, Inc. (a) | 6,257 | |||||||||
Building Products — 1.6% | |||||||||||
219 | Lennox International, Inc. (c) | 9,112 | |||||||||
197 | Trex Co., Inc. (a) (c) | 3,953 | |||||||||
13,065 | |||||||||||
Electrical Equipment — 0.7% | |||||||||||
388 | Generac Holdings, Inc. (a) | 5,429 | |||||||||
Machinery — 2.0% | |||||||||||
137 | Cummins, Inc. | 8,942 | |||||||||
175 | Wabtec Corp. (c) | 6,989 | |||||||||
15,931 | |||||||||||
Professional Services — 0.6% | |||||||||||
205 | Robert Half International, Inc. (c) | 4,825 | |||||||||
Road & Rail — 2.8% | |||||||||||
623 | Avis Budget Group, Inc. (a) (c) | 6,115 | |||||||||
158 | Canadian National Railway Co., (Canada) (c) | 9,083 | |||||||||
193 | Landstar System, Inc. | 7,518 | |||||||||
22,716 | |||||||||||
Trading Companies & Distributors — 1.7% | |||||||||||
135 | W.W. Grainger, Inc. | 13,406 | |||||||||
Total Industrials | 104,093 | ||||||||||
Information Technology — 34.9% | |||||||||||
Communications Equipment — 2.0% | |||||||||||
745 | Cisco Systems, Inc. (a) | 15,878 | |||||||||
Computers & Peripherals — 10.9% | |||||||||||
219 | Apple, Inc. (a) | 55,173 | |||||||||
458 | EMC Corp. (a) | 8,380 | |||||||||
395 | Hewlett-Packard Co. | 17,100 | |||||||||
180 | NetApp, Inc. (a) | 6,723 | |||||||||
87,376 | |||||||||||
Electronic Equipment, Instruments & Components — 1.4% | |||||||||||
277 | Amphenol Corp., Class A | 10,861 | |||||||||
Internet Software & Services — 2.8% | |||||||||||
83 | Equinix, Inc. (a) (c) | 6,709 | |||||||||
35 | Google, Inc., Class A (a) | 15,707 | |||||||||
22,416 | |||||||||||
IT Services — 9.4% | |||||||||||
142 | Alliance Data Systems Corp. (a) (c) | 8,452 | |||||||||
480 | Amdocs Ltd., (United Kingdom) (a) | 12,893 | |||||||||
411 | CGI Group, Inc., (Canada), Class A (a) | 6,141 | |||||||||
300 | Cognizant Technology Solutions Corp., Class A (a) | 14,998 | |||||||||
379 | Hewitt Associates, Inc., Class A (a) | 13,064 | |||||||||
59 | MasterCard, Inc., Class A (c) | 11,772 | |||||||||
531 | Western Union Co. (The) | 7,917 | |||||||||
75,237 | |||||||||||
Semiconductors & Semiconductor Equipment — 4.8% | |||||||||||
370 | Broadcom Corp., Class A (c) | 12,199 | |||||||||
413 | Intel Corp. | 8,023 | |||||||||
267 | Lam Research Corp. (a) (c) | 10,147 | |||||||||
519 | Marvell Technology Group Ltd., (Bermuda) (a) | 8,184 | |||||||||
38,553 | |||||||||||
Software — 3.6% | |||||||||||
69 | Blackboard, Inc. (a) (c) | 2,564 | |||||||||
144 | Concur Technologies, Inc. (a) (c) | 6,129 | |||||||||
615 | Microsoft Corp. | 14,140 | |||||||||
250 | Taleo Corp., Class A (a) (c) | 6,060 | |||||||||
28,893 | |||||||||||
Total Information Technology | 279,214 | ||||||||||
Materials — 3.9% | |||||||||||
Chemicals — 2.0% | |||||||||||
232 | Sherwin-Williams Co. (The) (c) | 16,031 | |||||||||
Containers & Packaging — 1.9% | |||||||||||
303 | Bemis Co., Inc. | 8,176 | |||||||||
124 | Greif, Inc., Class A | 6,859 | |||||||||
15,035 | |||||||||||
Total Materials | 31,066 | ||||||||||
Telecommunication Services — 1.0% | |||||||||||
Diversified Telecommunication Services — 1.0% | |||||||||||
503 | tw telecom, inc. (a) | 8,383 | |||||||||
Total Common Stocks (Cost $737,259) | 798,909 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Short-Term Investment — 0.1% | |||||||||||
Investment Company — 0.1% | |||||||||||
593 | JPMorgan Prime Money Market Fund, Institutional Class Shares, 0.120% (b) (l) (m) (Cost $593) | 593 | |||||||||
Investments of Cash Collateral for Securities on Loan — 21.4% | |||||||||||
Investment Company — 21.4% | |||||||||||
170,889 | JPMorgan Prime Money Market Fund, Capital Shares, 0.150% (b) (l) (Cost $170,889) | 170,889 | |||||||||
Total Investments — 121.4% (Cost $908,741) | 970,391 | ||||||||||
Liabilities in Excess of Other Assets — (21.4)% | (171,266 | ) | |||||||||
NET ASSETS — 100.0% | $ | 799,125 |
JPMorgan Mid Cap Equity Fund |
AS OF JUNE 30, 2010
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — 93.6% | |||||||||||
Consumer Discretionary — 17.1% | |||||||||||
Auto Components — 0.5% | |||||||||||
144 | Gentex Corp. (c) | 2,584 | |||||||||
Automobiles — 0.5% | |||||||||||
100 | Harley-Davidson, Inc. (c) | 2,223 | |||||||||
Distributors — 0.5% | |||||||||||
66 | Genuine Parts Co. | 2,591 | |||||||||
Diversified Consumer Services — 1.0% | |||||||||||
117 | Education Management Corp. (a) (c) | 1,778 | |||||||||
116 | H&R Block, Inc. | 1,823 | |||||||||
49 | Sotheby’s (c) | 1,118 | |||||||||
4,719 | |||||||||||
Hotels, Restaurants & Leisure — 2.4% | |||||||||||
11 | Chipotle Mexican Grill, Inc. (a) (c) | 1,464 | |||||||||
27 | Darden Restaurants, Inc. | 1,036 | |||||||||
57 | Marriott International, Inc., Class A | 1,692 | |||||||||
98 | MGM Resorts International (a) (c) | 947 | |||||||||
74 | Royal Caribbean Cruises Ltd. (a) (c) | 1,687 | |||||||||
40 | Starwood Hotels & Resorts Worldwide, Inc. (c) | 1,669 | |||||||||
66 | Yum! Brands, Inc. | 2,573 | |||||||||
11,068 | |||||||||||
Household Durables — 1.5% | |||||||||||
83 | Fortune Brands, Inc. | 3,248 | |||||||||
76 | Harman International Industries, Inc. (a) (c) | 2,274 | |||||||||
52 | Jarden Corp. | 1,400 | |||||||||
6,922 | |||||||||||
Internet & Catalog Retail — 1.1% | |||||||||||
85 | Expedia, Inc. | 1,598 | |||||||||
65 | HSN, Inc. (a) | 1,567 | |||||||||
19 | NetFlix, Inc. (a) (c) | 2,065 | |||||||||
5,230 | |||||||||||
Media — 2.8% | |||||||||||
47 | Cablevision Systems Corp., Class A | 1,117 | |||||||||
86 | Clear Channel Outdoor Holdings, Inc., Class A (a) | 746 | |||||||||
56 | Discovery Communications, Inc., Class A (a) (c) | 2,007 | |||||||||
67 | DISH Network Corp., Class A | 1,220 | |||||||||
145 | Gannett Co., Inc. | 1,954 | |||||||||
89 | Lamar Advertising Co., Class A (a) (c) | 2,190 | |||||||||
31 | Omnicom Group, Inc. | 1,060 | |||||||||
24 | Scripps Networks Interactive, Inc., Class A | 976 | |||||||||
4 | Washington Post Co. (The), Class B | 1,623 | |||||||||
12,893 | |||||||||||
Multiline Retail — 0.2% | |||||||||||
45 | Macy’s, Inc. | 811 | |||||||||
Specialty Retail — 5.3% | |||||||||||
8 | AutoNation, Inc. (a) | 155 | |||||||||
13 | AutoZone, Inc. (a) | 2,415 | |||||||||
60 | Bed Bath & Beyond, Inc. (a) | 2,236 | |||||||||
121 | Chico’s FAS, Inc. | 1,190 | |||||||||
116 | Dick’s Sporting Goods, Inc. (a) (c) | 2,880 | |||||||||
108 | Express, Inc. (a) | 1,771 | |||||||||
204 | Gap, Inc. (The) | 3,962 | |||||||||
41 | J Crew Group, Inc. (a) (c) | 1,524 | |||||||||
134 | OfficeMax, Inc. (a) (c) | 1,751 | |||||||||
46 | Staples, Inc. | 884 | |||||||||
50 | Tiffany & Co. | 1,911 | |||||||||
39 | TJX Cos., Inc. | 1,649 | |||||||||
93 | Williams-Sonoma, Inc. (c) | 2,296 | |||||||||
24,624 | |||||||||||
Textiles, Apparel & Luxury Goods — 1.3% | |||||||||||
88 | Phillips-Van Heusen Corp. (c) | 4,063 | |||||||||
25 | Polo Ralph Lauren Corp. | 1,831 | |||||||||
5,894 | |||||||||||
Total Consumer Discretionary | 79,559 | ||||||||||
Consumer Staples — 3.6% | |||||||||||
Beverages — 0.8% | |||||||||||
25 | Brown-Forman Corp., Class B | 1,447 | |||||||||
64 | Dr. Pepper Snapple Group, Inc. | 2,378 | |||||||||
3,825 | |||||||||||
Food & Staples Retailing — 0.9% | |||||||||||
154 | Safeway, Inc. | 3,030 | |||||||||
33 | Whole Foods Market, Inc. (a) (c) | 1,181 | |||||||||
4,211 | |||||||||||
Food Products — 1.0% | |||||||||||
64 | JM Smucker Co. (The) | 3,848 | |||||||||
20 | McCormick & Co., Inc. (Non-Voting) | 774 | |||||||||
4,622 | |||||||||||
Household Products — 0.6% | |||||||||||
24 | Clorox Co. | 1,498 | |||||||||
29 | Energizer Holdings, Inc. (a) | 1,443 | |||||||||
2,941 | |||||||||||
Tobacco — 0.3% | |||||||||||
18 | Lorillard, Inc. | 1,260 | |||||||||
Total Consumer Staples | 16,859 | ||||||||||
Energy — 5.7% | |||||||||||
Energy Equipment & Services — 0.9% | |||||||||||
53 | Cameron International Corp. (a) | 1,728 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Energy Equipment & Services — Continued | |||||||||||
18 | CARBO Ceramics, Inc. (c) | 1,285 | |||||||||
21 | Oceaneering International, Inc. (a) | 962 | |||||||||
3,975 | |||||||||||
Oil, Gas & Consumable Fuels — 4.8% | |||||||||||
70 | Cabot Oil & Gas Corp. | 2,206 | |||||||||
49 | Concho Resources, Inc. (a) | 2,722 | |||||||||
101 | CVR Energy, Inc. (a) | 759 | |||||||||
51 | Devon Energy Corp. | 3,083 | |||||||||
98 | El Paso Corp. | 1,084 | |||||||||
130 | Forest Oil Corp. (a) | 3,551 | |||||||||
41 | Kinder Morgan Management LLC (a) | 2,347 | |||||||||
92 | Teekay Corp., (Canada) | 2,397 | |||||||||
228 | Williams Cos., Inc. (The) | 4,159 | |||||||||
22,308 | |||||||||||
Total Energy | 26,283 | ||||||||||
Financials — 15.4% | |||||||||||
Capital Markets — 2.8% | |||||||||||
13 | Affiliated Managers Group, Inc. (a) | 763 | |||||||||
42 | Ameriprise Financial, Inc. | 1,528 | |||||||||
111 | Invesco Ltd. | 1,866 | |||||||||
34 | Northern Trust Corp. | 1,597 | |||||||||
105 | Och-Ziff Capital Management Group LLC, Class A (c) | 1,321 | |||||||||
93 | T. Rowe Price Group, Inc. (c) | 4,135 | |||||||||
125 | TD AMERITRADE Holding Corp. (a) | 1,910 | |||||||||
13,120 | |||||||||||
Commercial Banks — 4.2% | |||||||||||
64 | BancorpSouth, Inc. | 1,139 | |||||||||
137 | BB&T Corp. (c) | 3,599 | |||||||||
28 | BOK Financial Corp. (c) | 1,339 | |||||||||
26 | City National Corp. | 1,327 | |||||||||
48 | Comerica, Inc. | 1,750 | |||||||||
25 | Cullen/Frost Bankers, Inc. | 1,300 | |||||||||
88 | Fifth Third Bancorp | 1,075 | |||||||||
82 | KeyCorp | 629 | |||||||||
27 | M&T Bank Corp. | 2,328 | |||||||||
82 | SunTrust Banks, Inc. | 1,915 | |||||||||
75 | TCF Financial Corp. | 1,252 | |||||||||
85 | Wilmington Trust Corp. | 938 | |||||||||
47 | Zions Bancorp | 1,014 | |||||||||
19,605 | |||||||||||
Diversified Financial Services — 0.4% | |||||||||||
60 | MSCI, Inc., Class A (a) | 1,636 | |||||||||
Insurance — 5.6% | |||||||||||
38 | AON Corp. | 1,422 | |||||||||
50 | Assurant, Inc. | 1,728 | |||||||||
129 | Cincinnati Financial Corp. | 3,344 | |||||||||
57 | HCC Insurance Holdings, Inc. | 1,421 | |||||||||
131 | Loews Corp. | 4,364 | |||||||||
324 | Old Republic International Corp. | 3,927 | |||||||||
83 | OneBeacon Insurance Group Ltd., Class A | 1,189 | |||||||||
87 | Principal Financial Group, Inc. | 2,037 | |||||||||
44 | Symetra Financial Corp. | 528 | |||||||||
67 | Transatlantic Holdings, Inc. | 3,199 | |||||||||
106 | W.R. Berkley Corp. | 2,791 | |||||||||
25,950 | |||||||||||
Real Estate Investment Trusts (REITs) — 1.7% | |||||||||||
80 | Kimco Realty Corp. | 1,077 | |||||||||
14 | Public Storage | 1,239 | |||||||||
57 | Regency Centers Corp. | 1,964 | |||||||||
24 | Ventas, Inc. | 1,146 | |||||||||
35 | Vornado Realty Trust | 2,521 | |||||||||
7,947 | |||||||||||
Real Estate Management & Development — 0.5% | |||||||||||
150 | Brookfield Properties Corp. | 2,104 | |||||||||
Thrifts & Mortgage Finance — 0.2% | |||||||||||
86 | People’s United Financial, Inc. | 1,165 | |||||||||
Total Financials | 71,527 | ||||||||||
Health Care — 9.6% | |||||||||||
Biotechnology — 0.6% | |||||||||||
32 | Alexion Pharmaceuticals, Inc. (a) (c) | 1,628 | |||||||||
65 | BioMarin Pharmaceutical, Inc. (a) (c) | 1,240 | |||||||||
2,868 | |||||||||||
Health Care Equipment & Supplies — 1.8% | |||||||||||
35 | Beckman Coulter, Inc. | 2,122 | |||||||||
49 | Becton, Dickinson & Co. | 3,334 | |||||||||
35 | Sirona Dental Systems, Inc. (a) | 1,205 | |||||||||
42 | Thoratec Corp. (a) | 1,778 | |||||||||
8,439 | |||||||||||
Health Care Providers & Services — 5.0% | |||||||||||
125 | Brookdale Senior Living, Inc. (a) (c) | 1,873 | |||||||||
72 | Community Health Systems, Inc. (a) | 2,438 | |||||||||
203 | Coventry Health Care, Inc. (a) | 3,581 | |||||||||
48 | DaVita, Inc. (a) | 3,016 | |||||||||
51 | Express Scripts, Inc. (a) | 2,407 | |||||||||
44 | Humana, Inc. (a) | 1,994 | |||||||||
214 | Lincare Holdings, Inc. (a) (c) | 6,954 |
JPMorgan Mid Cap Equity Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Health Care Providers & Services — Continued | |||||||||||
42 | VCA Antech, Inc. (a) | 1,045 | |||||||||
23,308 | |||||||||||
Health Care Technology — 0.3% | |||||||||||
21 | Cerner Corp. (a) (c) | 1,565 | |||||||||
Life Sciences Tools & Services — 0.8% | |||||||||||
39 | Covance, Inc. (a) (c) | 2,022 | |||||||||
37 | Illumina, Inc. (a) (c) | 1,627 | |||||||||
3,649 | |||||||||||
Pharmaceuticals — 1.1% | |||||||||||
255 | Biovail Corp., (Canada) (c) | 4,898 | |||||||||
Total Health Care | 44,727 | ||||||||||
Industrials — 13.6% | |||||||||||
Aerospace & Defense — 2.7% | |||||||||||
25 | Alliant Techsystems, Inc. (a) | 1,557 | |||||||||
54 | Goodrich Corp. | 3,591 | |||||||||
31 | L-3 Communications Holdings, Inc. | 2,196 | |||||||||
50 | Precision Castparts Corp. | 5,108 | |||||||||
12,452 | |||||||||||
Air Freight & Logistics — 0.4% | |||||||||||
50 | Expeditors International of Washington, Inc. | 1,729 | |||||||||
Airlines — 0.7% | |||||||||||
272 | Delta Air Lines, Inc. (a) (c) | 3,190 | |||||||||
Building Products — 0.6% | |||||||||||
68 | Lennox International, Inc. (c) | 2,839 | |||||||||
Commercial Services & Supplies — 2.1% | |||||||||||
175 | Republic Services, Inc. | 5,215 | |||||||||
38 | Stericycle, Inc. (a) (c) | 2,463 | |||||||||
58 | Waste Connections, Inc. (a) (c) | 2,022 | |||||||||
9,700 | |||||||||||
Construction & Engineering — 0.4% | |||||||||||
77 | Aecom Technology Corp. (a) (c) | 1,783 | |||||||||
Electrical Equipment — 1.7% | |||||||||||
32 | AMETEK, Inc. | 1,265 | |||||||||
43 | Cooper Industries plc | 1,883 | |||||||||
82 | Roper Industries, Inc. (c) | 4,596 | |||||||||
7,744 | |||||||||||
Industrial Conglomerates — 0.7% | |||||||||||
87 | Carlisle Cos., Inc. | 3,150 | |||||||||
Machinery — 2.1% | |||||||||||
54 | Cummins, Inc. | 3,545 | |||||||||
55 | Snap-On, Inc. | 2,262 | |||||||||
55 | WABCO Holdings, Inc. (a) | 1,731 | |||||||||
61 | Wabtec Corp. (c) | 2,420 | |||||||||
9,958 | |||||||||||
Professional Services — 0.4% | |||||||||||
81 | Robert Half International, Inc. (c) | 1,910 | |||||||||
Road & Rail — 0.9% | |||||||||||
173 | Avis Budget Group, Inc. (a) (c) | 1,698 | |||||||||
70 | Landstar System, Inc. | 2,710 | |||||||||
4,408 | |||||||||||
Trading Companies & Distributors — 0.9% | |||||||||||
45 | W.W. Grainger, Inc. (c) | 4,455 | |||||||||
Total Industrials | 63,318 | ||||||||||
Information Technology — 16.3% | |||||||||||
Communications Equipment — 1.2% | |||||||||||
63 | CommScope, Inc. (a) | 1,495 | |||||||||
29 | F5 Networks, Inc. (a) (c) | 1,989 | |||||||||
86 | Juniper Networks, Inc. (a) (c) | 1,960 | |||||||||
5,444 | |||||||||||
Computers & Peripherals — 0.7% | |||||||||||
89 | NetApp, Inc. (a) (c) | 3,302 | |||||||||
Electronic Equipment, Instruments & Components — 3.3% | |||||||||||
132 | Amphenol Corp., Class A | 5,175 | |||||||||
76 | Arrow Electronics, Inc. (a) | 1,701 | |||||||||
32 | Dolby Laboratories, Inc., Class A (a) (c) | 2,023 | |||||||||
247 | Tyco Electronics Ltd., (Switzerland) | 6,264 | |||||||||
15,163 | |||||||||||
Internet Software & Services — 0.5% | |||||||||||
26 | Equinix, Inc. (a) (c) | 2,120 | |||||||||
IT Services — 4.2% | |||||||||||
46 | Alliance Data Systems Corp. (a) (c) | 2,762 | |||||||||
155 | Amdocs Ltd., (United Kingdom) (a) | 4,153 | |||||||||
99 | CGI Group, Inc., (Canada), Class A (a) | 1,474 | |||||||||
74 | Cognizant Technology Solutions Corp., Class A (a) | 3,689 | |||||||||
107 | Hewitt Associates, Inc., Class A (a) | 3,673 | |||||||||
10 | MasterCard, Inc., Class A (c) | 2,085 | |||||||||
124 | Western Union Co. (The) | 1,846 | |||||||||
19,682 | |||||||||||
Semiconductors & Semiconductor Equipment — 2.8% | |||||||||||
33 | Avago Technologies Ltd., (Singapore) (a) | 696 | |||||||||
89 | Broadcom Corp., Class A (c) | 2,945 | |||||||||
18 | Cree, Inc. (a) (c) | 1,074 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Semiconductors & Semiconductor Equipment — Continued | |||||||||||
204 | Marvell Technology Group Ltd., (Bermuda) (a) | 3,208 | |||||||||
117 | MEMC Electronic Materials, Inc. (a) (c) | 1,158 | |||||||||
54 | Microchip Technology, Inc. (c) | 1,492 | |||||||||
90 | Varian Semiconductor Equipment Associates, Inc. (a) | 2,579 | |||||||||
13,152 | |||||||||||
Software — 3.6% | |||||||||||
57 | ANSYS, Inc. (a) (c) | 2,332 | |||||||||
51 | Concur Technologies, Inc. (a) (c) | 2,194 | |||||||||
103 | Jack Henry & Associates, Inc. | 2,457 | |||||||||
71 | McAfee, Inc. (a) | 2,178 | |||||||||
91 | MICROS Systems, Inc. (a) (c) | 2,903 | |||||||||
24 | Salesforce.com, Inc. (a) (c) | 2,094 | |||||||||
117 | Synopsys, Inc. (a) | 2,434 | |||||||||
16,592 | |||||||||||
Total Information Technology | 75,455 | ||||||||||
Materials — 5.2% | |||||||||||
Chemicals — 3.3% | |||||||||||
13 | Airgas, Inc. | 802 | |||||||||
67 | Albemarle Corp. | 2,646 | |||||||||
39 | PPG Industries, Inc. | 2,368 | |||||||||
97 | Sherwin-Williams Co. (The) (c) | 6,718 | |||||||||
55 | Sigma-Aldrich Corp. | 2,741 | |||||||||
15,275 | |||||||||||
Construction Materials — 0.1% | |||||||||||
17 | Vulcan Materials Co. | 741 | |||||||||
Containers & Packaging — 1.8% | |||||||||||
71 | Ball Corp. | 3,772 | |||||||||
90 | Bemis Co., Inc. (c) | 2,435 | |||||||||
38 | Greif, Inc., Class A | 2,083 | |||||||||
8,290 | |||||||||||
Total Materials | 24,306 | ||||||||||
Telecommunication Services — 1.7% | |||||||||||
Diversified Telecommunication Services — 1.3% | |||||||||||
69 | CenturyLink, Inc. | 2,308 | |||||||||
177 | tw telecom, Inc. (a) (c) | 2,958 | |||||||||
81 | Windstream Corp. | 851 | |||||||||
6,117 | |||||||||||
Wireless Telecommunication Services — 0.4% | |||||||||||
61 | Telephone & Data Systems, Inc. | 1,630 | |||||||||
Total Telecommunication Services | 7,747 | ||||||||||
Utilities — 5.4% | |||||||||||
Electric Utilities — 0.6% | |||||||||||
127 | Westar Energy, Inc. | 2,749 | |||||||||
Gas Utilities — 2.0% | |||||||||||
86 | Energen Corp. | 3,830 | |||||||||
72 | EQT Corp. | 2,606 | |||||||||
61 | Oneok, Inc. | 2,616 | |||||||||
13 | Questar Corp. (a) | 215 | |||||||||
9,267 | |||||||||||
Multi-Utilities — 2.5% | |||||||||||
232 | CMS Energy Corp. | 3,397 | |||||||||
60 | NSTAR | 2,094 | |||||||||
55 | Wisconsin Energy Corp. | 2,786 | |||||||||
158 | Xcel Energy, Inc. | 3,265 | |||||||||
11,542 | |||||||||||
Water Utilities — 0.3% | |||||||||||
82 | American Water Works Co., Inc. | 1,685 | |||||||||
Total Utilities | 25,243 | ||||||||||
Total Common Stocks (Cost $403,482) | 435,024 | ||||||||||
Investment Company — 1.0% | |||||||||||
106 | iShares Russell Midcap Growth Index Fund (Cost $4,894) | 4,623 | |||||||||
Short-Term Investment — 3.0% | |||||||||||
Investment Company — 3.0% | |||||||||||
13,890 | JPMorgan Prime Money Market Fund, Institutional Class Shares, 0.120% (b) (l) (m) (Cost $13,890) | 13,890 | |||||||||
Investments of Cash Collateral for Securities on Loan — 17.9% | |||||||||||
Investment Company — 17.9% | |||||||||||
83,284 | JPMorgan Prime Money Market Fund, Capital Shares, 0.150% (b) (l) (Cost $83,284) | 83,284 | |||||||||
Total Investments — 115.5% (Cost $505,550) | 536,821 | ||||||||||
Liabilities in Excess of Other Assets — (15.5)% | (71,884 | ) | |||||||||
NET ASSETS — 100.0% | $ | 464,937 |
JPMorgan Mid Cap Growth Fund |
AS OF JUNE 30, 2010
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — 98.1% | |||||||||||
Consumer Discretionary — 17.8% | |||||||||||
Auto Components — 1.2% | |||||||||||
831 | Gentex Corp. | 14,944 | |||||||||
Automobiles — 1.0% | |||||||||||
578 | Harley-Davidson, Inc. | 12,853 | |||||||||
Diversified Consumer Services — 1.4% | |||||||||||
799 | Education Management Corp. (a) (c) | 12,186 | |||||||||
283 | Sotheby’s | 6,461 | |||||||||
18,647 | |||||||||||
Hotels, Restaurants & Leisure — 2.6% | |||||||||||
62 | Chipotle Mexican Grill, Inc. (a) | 8,455 | |||||||||
568 | MGM Resorts International (a) (c) | 5,475 | |||||||||
428 | Royal Caribbean Cruises Ltd. (a) (c) | 9,750 | |||||||||
233 | Starwood Hotels & Resorts Worldwide, Inc. | 9,666 | |||||||||
33,346 | |||||||||||
Household Durables — 1.0% | |||||||||||
440 | Harman International Industries, Inc. (a) | 13,160 | |||||||||
Internet & Catalog Retail — 1.6% | |||||||||||
378 | HSN, Inc. (a) | 9,065 | |||||||||
110 | NetFlix, Inc. (a) (c) | 11,964 | |||||||||
21,029 | |||||||||||
Media — 1.9% | |||||||||||
325 | Discovery Communications, Inc., Class A (a) | 11,606 | |||||||||
517 | Lamar Advertising Co., Class A (a) | 12,667 | |||||||||
24,273 | |||||||||||
Specialty Retail — 5.1% | |||||||||||
697 | Chico’s FAS, Inc. | 6,887 | |||||||||
669 | Dick’s Sporting Goods, Inc. (a) | 16,654 | |||||||||
626 | Express, Inc. (a) | 10,241 | |||||||||
239 | J Crew Group, Inc. (a) | 8,805 | |||||||||
776 | OfficeMax, Inc. (a) | 10,131 | |||||||||
535 | Williams-Sonoma, Inc. | 13,284 | |||||||||
66,002 | |||||||||||
Textiles, Apparel & Luxury Goods — 2.0% | |||||||||||
318 | Phillips-Van Heusen Corp. | 14,728 | |||||||||
145 | Polo Ralph Lauren Corp. | 10,608 | |||||||||
25,336 | |||||||||||
Total Consumer Discretionary | 229,590 | ||||||||||
Consumer Staples — 1.6% | |||||||||||
Beverages — 1.1% | |||||||||||
368 | Dr. Pepper Snapple Group, Inc. | 13,744 | |||||||||
Food & Staples Retailing — 0.5% | |||||||||||
190 | Whole Foods Market, Inc. (a) | 6,837 | |||||||||
Total Consumer Staples | 20,581 | ||||||||||
Energy — 5.6% | |||||||||||
Energy Equipment & Services — 1.8% | |||||||||||
308 | Cameron International Corp. (a) | 10,002 | |||||||||
103 | CARBO Ceramics, Inc. | 7,436 | |||||||||
124 | Oceaneering International, Inc. (a) | 5,568 | |||||||||
23,006 | |||||||||||
Oil, Gas & Consumable Fuels — 3.8% | |||||||||||
407 | Cabot Oil & Gas Corp. | 12,749 | |||||||||
285 | Concho Resources, Inc. (a) | 15,752 | |||||||||
750 | Forest Oil Corp. (a) | 20,530 | |||||||||
49,031 | |||||||||||
Total Energy | 72,037 | ||||||||||
Financials — 7.1% | |||||||||||
Capital Markets — 3.5% | |||||||||||
641 | Invesco Ltd. | 10,790 | |||||||||
727 | Och-Ziff Capital Management Group LLC, Class A | 9,157 | |||||||||
323 | T. Rowe Price Group, Inc. | 14,358 | |||||||||
722 | TD AMERITRADE Holding Corp. (a) | 11,041 | |||||||||
45,346 | |||||||||||
Commercial Banks — 2.2% | |||||||||||
356 | BB&T Corp. | 9,367 | |||||||||
194 | BOK Financial Corp. | 9,190 | |||||||||
275 | Comerica, Inc. | 10,117 | |||||||||
28,674 | |||||||||||
Diversified Financial Services — 0.7% | |||||||||||
346 | MSCI, Inc., Class A (a) | 9,467 | |||||||||
Insurance — 0.7% | |||||||||||
332 | HCC Insurance Holdings, Inc. | 8,215 | |||||||||
Total Financials | 91,702 | ||||||||||
Health Care — 14.3% | |||||||||||
Biotechnology — 1.3% | |||||||||||
184 | Alexion Pharmaceuticals, Inc. (a) | 9,419 | |||||||||
378 | BioMarin Pharmaceutical, Inc. (a) (c) | 7,165 | |||||||||
16,584 | |||||||||||
Health Care Equipment & Supplies — 2.3% | |||||||||||
203 | Beckman Coulter, Inc. | 12,257 | |||||||||
200 | Sirona Dental Systems, Inc. (a) | 6,978 | |||||||||
231 | Thoratec Corp. (a) | 9,871 | |||||||||
29,106 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Health Care Providers & Services — 6.2% | |||||||||||
722 | Brookdale Senior Living, Inc. (a) | 10,833 | |||||||||
644 | Coventry Health Care, Inc. (a) | 11,381 | |||||||||
279 | DaVita, Inc. (a) | 17,436 | |||||||||
296 | Express Scripts, Inc. (a) | 13,918 | |||||||||
252 | Humana, Inc. (a) | 11,519 | |||||||||
474 | Lincare Holdings, Inc. (a) | 15,419 | |||||||||
80,506 | |||||||||||
Health Care Technology — 0.7% | |||||||||||
119 | Cerner Corp. (a) | 9,053 | |||||||||
Life Sciences Tools & Services — 1.6% | |||||||||||
228 | Covance, Inc. (a) | 11,699 | |||||||||
216 | Illumina, Inc. (a) | 9,402 | |||||||||
21,101 | |||||||||||
Pharmaceuticals — 2.2% | |||||||||||
1,473 | Biovail Corp., (Canada) | 28,335 | |||||||||
Total Health Care | 184,685 | ||||||||||
Industrials — 18.3% | |||||||||||
Aerospace & Defense — 2.6% | |||||||||||
314 | Goodrich Corp. | 20,783 | |||||||||
125 | Precision Castparts Corp. | 12,829 | |||||||||
33,612 | |||||||||||
Air Freight & Logistics — 0.8% | |||||||||||
290 | Expeditors International of Washington, Inc. | 10,008 | |||||||||
Airlines — 1.4% | |||||||||||
1,570 | Delta Air Lines, Inc. (a) | 18,450 | |||||||||
Building Products — 1.3% | |||||||||||
395 | Lennox International, Inc. | 16,420 | |||||||||
Commercial Services & Supplies — 2.0% | |||||||||||
217 | Stericycle, Inc. (a) | 14,255 | |||||||||
335 | Waste Connections, Inc. (a) | 11,690 | |||||||||
25,945 | |||||||||||
Construction & Engineering — 0.8% | |||||||||||
447 | Aecom Technology Corp. (a) | 10,308 | |||||||||
Electrical Equipment — 1.0% | |||||||||||
236 | Roper Industries, Inc. | 13,231 | |||||||||
Industrial Conglomerates — 0.8% | |||||||||||
301 | Carlisle Cos., Inc. | 10,882 | |||||||||
Machinery — 2.7% | |||||||||||
315 | Cummins, Inc. | 20,500 | |||||||||
351 | Wabtec Corp. | 13,994 | |||||||||
34,494 | |||||||||||
Professional Services — 0.9% | |||||||||||
469 | Robert Half International, Inc. | 11,039 | |||||||||
Road & Rail — 2.0% | |||||||||||
1,000 | Avis Budget Group, Inc. (a) | 9,822 | |||||||||
402 | Landstar System, Inc. | 15,678 | |||||||||
25,500 | |||||||||||
Trading Companies & Distributors — 2.0% | |||||||||||
259 | W.W. Grainger, Inc. | 25,757 | |||||||||
Total Industrials | 235,646 | ||||||||||
Information Technology — 27.9% | |||||||||||
Communications Equipment — 2.4% | |||||||||||
364 | CommScope, Inc. (a) | 8,652 | |||||||||
168 | F5 Networks, Inc. (a) | 11,492 | |||||||||
497 | Juniper Networks, Inc. (a) | 11,342 | |||||||||
31,486 | |||||||||||
Computers & Peripherals — 1.5% | |||||||||||
512 | NetApp, Inc. (a) | 19,092 | |||||||||
Electronic Equipment, Instruments & Components — 3.3% | |||||||||||
374 | Amphenol Corp., Class A | 14,690 | |||||||||
187 | Dolby Laboratories, Inc., Class A (a) | 11,710 | |||||||||
635 | Tyco Electronics Ltd., (Switzerland) | 16,111 | |||||||||
42,511 | |||||||||||
Internet Software & Services — 1.0% | |||||||||||
151 | Equinix, Inc. (a) | 12,241 | |||||||||
IT Services — 8.9% | |||||||||||
268 | Alliance Data Systems Corp. (a) (c) | 15,975 | |||||||||
894 | Amdocs Ltd., (United Kingdom) (a) | 24,010 | |||||||||
677 | CGI Group, Inc., (Canada), Class A (a) | 10,102 | |||||||||
427 | Cognizant Technology Solutions Corp., Class A (a) | 21,351 | |||||||||
617 | Hewitt Associates, Inc., Class A (a) | 21,244 | |||||||||
61 | MasterCard, Inc., Class A | 12,087 | |||||||||
716 | Western Union Co. (The) | 10,671 | |||||||||
115,440 | |||||||||||
Semiconductors & Semiconductor Equipment — 5.6% | |||||||||||
517 | Broadcom Corp., Class A | 17,036 | |||||||||
104 | Cree, Inc. (a) | 6,231 | |||||||||
1,177 | Marvell Technology Group Ltd., (Bermuda) (a) | 18,551 | |||||||||
678 | MEMC Electronic Materials, Inc. (a) | 6,694 | |||||||||
311 | Microchip Technology, Inc. (c) | 8,627 |
JPMorgan Mid Cap Growth Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Semiconductors & Semiconductor Equipment — Continued | |||||||||||
521 | Varian Semiconductor Equipment Associates, Inc. (a) | 14,920 | |||||||||
72,059 | |||||||||||
Software — 5.2% | |||||||||||
332 | ANSYS, Inc. (a) | 13,486 | |||||||||
297 | Concur Technologies, Inc. (a) | 12,693 | |||||||||
410 | McAfee, Inc. (a) | 12,604 | |||||||||
527 | MICROS Systems, Inc. (a) | 16,796 | |||||||||
141 | Salesforce.com, Inc. (a) | 12,118 | |||||||||
67,697 | |||||||||||
Total Information Technology | 360,526 | ||||||||||
Materials — 4.2% | |||||||||||
Chemicals — 2.0% | |||||||||||
376 | Sherwin-Williams Co. (The) | 26,016 | |||||||||
Containers & Packaging — 2.2% | |||||||||||
521 | Bemis Co., Inc. | 14,078 | |||||||||
257 | Greif, Inc., Class A | 14,279 | |||||||||
28,357 | |||||||||||
Total Materials | 54,373 | ||||||||||
Telecommunication Services — 1.3% | |||||||||||
Diversified Telecommunication Services — 1.3% | |||||||||||
1,026 | tw telecom, inc. (a) | 17,108 | |||||||||
Total Common Stocks (Cost $1,113,753) | 1,266,248 | ||||||||||
Short-Term Investment — 0.8% | |||||||||||
Investment Company — 0.8% | |||||||||||
9,676 | JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.140% (b) (l) (m) (Cost $9,676) | 9,676 | |||||||||
Investments of Cash Collateral for Securities on Loan — 3.6% | |||||||||||
Investment Company — 3.6% | |||||||||||
46,515 | JPMorgan Prime Money Market Fund, Capital Shares, 0.150% (b) (l) (Cost $46,515) | 46,515 | |||||||||
Total Investments — 102.5% (Cost $1,169,944) | 1,322,439 | ||||||||||
Liabilities in Excess of Other Assets — (2.5)% | (32,197 | ) | |||||||||
NET ASSETS — 100.0% | $ | 1,290,242 |
JPMorgan Mid Cap Value Fund |
AS OF JUNE 30, 2010
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — 98.3% | |||||||||||
Consumer Discretionary — 18.2% | |||||||||||
Distributors — 1.2% | |||||||||||
1,490 | Genuine Parts Co. | 58,781 | |||||||||
Diversified Consumer Services — 0.8% | |||||||||||
2,630 | H&R Block, Inc. | 41,269 | |||||||||
Hotels, Restaurants & Leisure — 2.4% | |||||||||||
603 | Darden Restaurants, Inc. | 23,421 | |||||||||
1,275 | Marriott International, Inc., Class A | 38,176 | |||||||||
1,495 | Yum! Brands, Inc. | 58,369 | |||||||||
119,966 | |||||||||||
Household Durables — 2.1% | |||||||||||
1,892 | Fortune Brands, Inc. | 74,136 | |||||||||
1,177 | Jarden Corp. | 31,617 | |||||||||
105,753 | |||||||||||
Internet & Catalog Retail — 0.7% | |||||||||||
1,927 | Expedia, Inc. | 36,183 | |||||||||
Media — 4.0% | |||||||||||
1,047 | Cablevision Systems Corp., Class A | 25,148 | |||||||||
2,560 | Clear Channel Outdoor Holdings, Inc., Class A (a) | 22,217 | |||||||||
1,538 | DISH Network Corp., Class A | 27,915 | |||||||||
3,308 | Gannett Co., Inc. | 44,522 | |||||||||
697 | Omnicom Group, Inc. | 23,917 | |||||||||
559 | Scripps Networks Interactive, Inc., Class A | 22,554 | |||||||||
98 | Washington Post Co. (The), Class B | 40,034 | |||||||||
206,307 | |||||||||||
Multiline Retail — 0.4% | |||||||||||
1,183 | Macy’s, Inc. | 21,176 | |||||||||
Specialty Retail — 5.9% | |||||||||||
181 | AutoNation, Inc. (a) (c) | 3,538 | |||||||||
283 | AutoZone, Inc. (a) | 54,639 | |||||||||
1,378 | Bed Bath & Beyond, Inc. (a) | 51,081 | |||||||||
4,781 | Gap, Inc. (The) | 93,042 | |||||||||
1,047 | Staples, Inc. | 19,950 | |||||||||
1,142 | Tiffany & Co. | 43,287 | |||||||||
886 | TJX Cos., Inc. | 37,176 | |||||||||
302,713 | |||||||||||
Textiles, Apparel & Luxury Goods — 0.7% | |||||||||||
744 | Phillips-Van Heusen Corp. | 34,402 | |||||||||
Total Consumer Discretionary | 926,550 | ||||||||||
Consumer Staples — 5.9% | |||||||||||
Beverages — 0.6% | |||||||||||
571 | Brown-Forman Corp., Class B | 32,672 | |||||||||
Food & Staples Retailing — 1.3% | |||||||||||
3,502 | Safeway, Inc. | 68,851 | |||||||||
Food Products — 2.1% | |||||||||||
1,459 | JM Smucker Co. (The) | 87,867 | |||||||||
456 | McCormick & Co., Inc. (Non-Voting) | 17,306 | |||||||||
105,173 | |||||||||||
Household Products — 1.3% | |||||||||||
543 | Clorox Co. | 33,781 | |||||||||
650 | Energizer Holdings, Inc. (a) | 32,677 | |||||||||
66,458 | |||||||||||
Tobacco — 0.6% | |||||||||||
394 | Lorillard, Inc. | 28,324 | |||||||||
Total Consumer Staples | 301,478 | ||||||||||
Energy — 6.6% | |||||||||||
Oil, Gas & Consumable Fuels — 6.6% | |||||||||||
2,801 | CVR Energy, Inc. (a) | 21,063 | |||||||||
1,149 | Devon Energy Corp. | 69,993 | |||||||||
2,655 | El Paso Corp. | 29,501 | |||||||||
1,194 | Kinder Morgan Management LLC (a) | 67,541 | |||||||||
2,076 | Teekay Corp., (Canada) | 54,341 | |||||||||
5,178 | Williams Cos., Inc. (The) | 94,645 | |||||||||
Total Energy | 337,084 | ||||||||||
Financials — 25.3% | |||||||||||
Capital Markets — 2.5% | |||||||||||
287 | Affiliated Managers Group, Inc. (a) | 17,468 | |||||||||
967 | Ameriprise Financial, Inc. | 34,934 | |||||||||
775 | Northern Trust Corp. | 36,183 | |||||||||
843 | T. Rowe Price Group, Inc. | 37,407 | |||||||||
125,992 | |||||||||||
Commercial Banks — 6.8% | |||||||||||
1,459 | BancorpSouth, Inc. | 26,080 | |||||||||
1,707 | BB&T Corp. | 44,898 | |||||||||
585 | City National Corp. | 29,964 | |||||||||
572 | Cullen/Frost Bankers, Inc. | 29,375 | |||||||||
2,003 | Fifth Third Bancorp | 24,611 | |||||||||
1,850 | KeyCorp | 14,226 | |||||||||
617 | M&T Bank Corp. (c) | 52,418 | |||||||||
1,864 | SunTrust Banks, Inc. | 43,438 | |||||||||
2,184 | TCF Financial Corp. | 36,283 | |||||||||
1,909 | Wilmington Trust Corp. | 21,170 | |||||||||
1,059 | Zions Bancorp | 22,832 | |||||||||
345,295 |
JPMorgan Mid Cap Value Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Insurance — 11.1% | |||||||||||
866 | AON Corp. | 32,146 | |||||||||
1,124 | Assurant, Inc. | 38,990 | |||||||||
2,919 | Cincinnati Financial Corp. | 75,504 | |||||||||
2,991 | Loews Corp. | 99,627 | |||||||||
7,308 | Old Republic International Corp. | 88,646 | |||||||||
2,478 | OneBeacon Insurance Group Ltd., Class A | 35,489 | |||||||||
1,972 | Principal Financial Group, Inc. | 46,218 | |||||||||
971 | Symetra Financial Corp. | 11,646 | |||||||||
1,516 | Transatlantic Holdings, Inc. | 72,712 | |||||||||
2,397 | W.R. Berkley Corp. | 63,417 | |||||||||
564,395 | |||||||||||
Real Estate Investment Trusts (REITs) — 3.5% | |||||||||||
1,808 | Kimco Realty Corp. | 24,304 | |||||||||
309 | Public Storage | 27,124 | |||||||||
1,304 | Regency Centers Corp. | 44,851 | |||||||||
551 | Ventas, Inc. | 25,888 | |||||||||
785 | Vornado Realty Trust | 57,262 | |||||||||
179,429 | |||||||||||
Real Estate Management & Development — 0.9% | |||||||||||
3,397 | Brookfield Properties Corp. (c) | 47,697 | |||||||||
Thrifts & Mortgage Finance — 0.5% | |||||||||||
1,974 | People’s United Financial, Inc. | 26,653 | |||||||||
Total Financials | 1,289,461 | ||||||||||
Health Care — 5.7% | |||||||||||
Health Care Equipment & Supplies — 1.5% | |||||||||||
1,121 | Becton, Dickinson & Co. | 75,802 | |||||||||
Health Care Providers & Services — 4.2% | |||||||||||
1,639 | Community Health Systems, Inc. (a) | 55,416 | |||||||||
2,067 | Coventry Health Care, Inc. (a) | 36,552 | |||||||||
2,999 | Lincare Holdings, Inc. (a) | 97,486 | |||||||||
950 | VCA Antech, Inc. (a) | 23,514 | |||||||||
212,968 | |||||||||||
Total Health Care | 288,770 | ||||||||||
Industrials — 10.0% | |||||||||||
Aerospace & Defense — 2.9% | |||||||||||
567 | Alliant Techsystems, Inc. (a) | 35,184 | |||||||||
704 | L-3 Communications Holdings, Inc. | 49,857 | |||||||||
617 | Precision Castparts Corp. | 63,492 | |||||||||
148,533 | |||||||||||
Commercial Services & Supplies — 2.3% | |||||||||||
3,992 | Republic Services, Inc. | 118,681 | |||||||||
Electrical Equipment — 2.4% | |||||||||||
712 | AMETEK, Inc. | 28,578 | |||||||||
970 | Cooper Industries plc | 42,684 | |||||||||
937 | Roper Industries, Inc. | 52,412 | |||||||||
123,674 | |||||||||||
Industrial Conglomerates — 0.6% | |||||||||||
792 | Carlisle Cos., Inc. | 28,623 | |||||||||
Machinery — 1.8% | |||||||||||
1,255 | Snap-On, Inc. | 51,358 | |||||||||
1,244 | WABCO Holdings, Inc. (a) | 39,158 | |||||||||
90,516 | |||||||||||
Total Industrials | 510,027 | ||||||||||
Information Technology — 6.0% | |||||||||||
Electronic Equipment, Instruments & Components — 3.5% | |||||||||||
1,523 | Amphenol Corp., Class A | 59,808 | |||||||||
1,725 | Arrow Electronics, Inc. (a) | 38,547 | |||||||||
3,116 | Tyco Electronics Ltd., (Switzerland) | 79,074 | |||||||||
177,429 | |||||||||||
Semiconductors & Semiconductor Equipment — 0.3% | |||||||||||
746 | Avago Technologies Ltd., (Singapore) (a) (c) | 15,701 | |||||||||
Software — 2.2% | |||||||||||
2,334 | Jack Henry & Associates, Inc. | 55,736 | |||||||||
2,646 | Synopsys, Inc. (a) | 55,224 | |||||||||
110,960 | |||||||||||
Total Information Technology | 304,090 | ||||||||||
Materials — 6.8% | |||||||||||
Chemicals — 4.8% | |||||||||||
292 | Airgas, Inc. | 18,146 | |||||||||
1,514 | Albemarle Corp. | 60,102 | |||||||||
889 | PPG Industries, Inc. | 53,723 | |||||||||
749 | Sherwin-Williams Co. (The) | 51,815 | |||||||||
1,250 | Sigma-Aldrich Corp. | 62,273 | |||||||||
246,059 | |||||||||||
Construction Materials — 0.3% | |||||||||||
385 | Vulcan Materials Co. | 16,866 | |||||||||
Containers & Packaging — 1.7% | |||||||||||
1,624 | Ball Corp. | 85,810 | |||||||||
Total Materials | 348,735 | ||||||||||
Telecommunication Services — 2.5% | |||||||||||
Diversified Telecommunication Services — 1.4% | |||||||||||
1,573 | CenturyLink, Inc. | 52,400 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Diversified Telecommunication Services — Continued | |||||||||||
1,807 | Windstream Corp. | 19,078 | |||||||||
71,478 | |||||||||||
Wireless Telecommunication Services — 1.1% | |||||||||||
2,053 | Telephone & Data Systems, Inc. | 54,499 | |||||||||
Total Telecommunication Services | 125,977 | ||||||||||
Utilities — 11.3% | |||||||||||
Electric Utilities — 1.2% | |||||||||||
2,889 | Westar Energy, Inc. | 62,425 | |||||||||
Gas Utilities — 4.1% | |||||||||||
1,966 | Energen Corp. | 87,131 | |||||||||
1,638 | EQT Corp. | 59,204 | |||||||||
1,374 | Oneok, Inc. | 59,429 | |||||||||
291 | Questar Corp. (a) | 4,696 | |||||||||
210,460 | |||||||||||
Multi-Utilities — 5.2% | |||||||||||
5,271 | CMS Energy Corp. | 77,213 | |||||||||
1,356 | NSTAR (c) | 47,453 | |||||||||
1,247 | Wisconsin Energy Corp. | 63,273 | |||||||||
3,600 | Xcel Energy, Inc. | 74,200 | |||||||||
262,139 | |||||||||||
Water Utilities — 0.8% | |||||||||||
1,849 | American Water Works Co., Inc. | 38,093 | |||||||||
Total Utilities | 573,117 | ||||||||||
Total Common Stocks (Cost $4,749,654) | 5,005,289 | ||||||||||
Short-Term Investment — 3.2% | |||||||||||
Investment Company — 3.2% | |||||||||||
162,235 | JPMorgan Prime Money Market Fund, Institutional Class Shares, 0.120% (b) (l) (m) (Cost $162,235) | 162,235 | |||||||||
Investments of Cash Collateral for Securities on Loan — 1.7% | |||||||||||
Investment Company — 1.7% | |||||||||||
85,595 | JPMorgan Prime Money Market Fund, Capital Shares, 0.150% (b) (l) (Cost $85,595) | 85,595 | |||||||||
Total Investments — 103.2% (Cost $4,997,484) | 5,253,119 | ||||||||||
Liabilities in Excess of Other Assets — (3.2)% | (164,389 | ) | |||||||||
NET ASSETS — 100.0% | $ | 5,088,730 |
JPMorgan Multi-Cap Market Neutral Fund |
AS OF JUNE 30, 2010
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Long Positions — 100.2% (j) | |||||||||||
Common Stocks — 85.3% | |||||||||||
Consumer Discretionary — 18.4% | |||||||||||
Auto Components — 1.7% | |||||||||||
35 | Autoliv, Inc., (Sweden) (a) | 1,660 | |||||||||
35 | BorgWarner, Inc. (a) | 1,325 | |||||||||
97 | Cooper Tire & Rubber Co. | 1,894 | |||||||||
128 | Dana Holding Corp. (a) | 1,283 | |||||||||
138 | Goodyear Tire & Rubber Co. (The) (a) | 1,368 | |||||||||
25 | Tenneco, Inc. (a) | 527 | |||||||||
67 | TRW Automotive Holdings Corp. (a) | 1,852 | |||||||||
9,909 | |||||||||||
Automobiles — 0.3% | |||||||||||
190 | Ford Motor Co. (a) | 1,920 | |||||||||
Distributors — 0.1% | |||||||||||
10 | Genuine Parts Co. | 383 | |||||||||
Diversified Consumer Services — 2.1% | |||||||||||
44 | Apollo Group, Inc., Class A (a) | 1,855 | |||||||||
78 | Bridgepoint Education, Inc. (a) | 1,240 | |||||||||
42 | Career Education Corp. (a) | 963 | |||||||||
186 | Corinthian Colleges, Inc. (a) | 1,837 | |||||||||
90 | H&R Block, Inc. | 1,407 | |||||||||
22 | ITT Educational Services, Inc. (a) | 1,825 | |||||||||
73 | Sotheby’s | 1,670 | |||||||||
59 | Weight Watchers International, Inc. | 1,525 | |||||||||
12,322 | |||||||||||
Hotels, Restaurants & Leisure — 1.7% | |||||||||||
39 | Bally Technologies, Inc. (a) | 1,259 | |||||||||
29 | Bob Evans Farms, Inc. | 712 | |||||||||
128 | Brinker International, Inc. | 1,852 | |||||||||
15 | Cheesecake Factory, Inc. (The) (a) | 339 | |||||||||
33 | Cracker Barrel Old Country Store, Inc. | 1,515 | |||||||||
12 | Las Vegas Sands Corp. (a) | 272 | |||||||||
53 | Penn National Gaming, Inc. (a) | 1,233 | |||||||||
22 | Starwood Hotels & Resorts Worldwide, Inc. | 920 | |||||||||
70 | Wyndham Worldwide Corp. | 1,407 | |||||||||
9,509 | |||||||||||
Household Durables — 1.6% | |||||||||||
183 | D.R. Horton, Inc. | 1,795 | |||||||||
46 | Garmin Ltd., (Cayman Islands) | 1,352 | |||||||||
75 | Jarden Corp. | 2,025 | |||||||||
19 | Leggett & Platt, Inc. | 384 | |||||||||
21 | Mohawk Industries, Inc. (a) | 947 | |||||||||
116 | Pulte Group, Inc. (a) | 959 | |||||||||
20 | Whirlpool Corp. | 1,737 | |||||||||
9,199 | |||||||||||
Internet & Catalog Retail — 0.8% | |||||||||||
16 | Amazon.com, Inc. (a) | 1,726 | |||||||||
98 | Expedia, Inc. | 1,835 | |||||||||
9 | NetFlix, Inc. (a) | 952 | |||||||||
4,513 | |||||||||||
Leisure Equipment & Products — 0.5% | |||||||||||
211 | Eastman Kodak Co. (a) | 915 | |||||||||
7 | Mattel, Inc. | 157 | |||||||||
33 | Polaris Industries, Inc. | 1,816 | |||||||||
2,888 | |||||||||||
Media — 2.8% | |||||||||||
135 | CBS Corp. (Non-Voting), Class B | 1,749 | |||||||||
33 | Cinemark Holdings, Inc. | 433 | |||||||||
52 | DISH Network Corp., Class A | 950 | |||||||||
69 | Gannett Co., Inc. | 935 | |||||||||
72 | Liberty Global, Inc., Class A (a) | 1,861 | |||||||||
23 | Liberty Media Corp. - Capital, Class A (a) | 979 | |||||||||
64 | McGraw-Hill Cos., Inc. (The) | 1,809 | |||||||||
73 | New York Times Co. (The), Class A (a) | 628 | |||||||||
123 | News Corp., Class A | 1,468 | |||||||||
39 | Omnicom Group, Inc. | 1,324 | |||||||||
34 | Time Warner, Inc. | 971 | |||||||||
55 | Valassis Communications, Inc. (a) | 1,748 | |||||||||
60 | Virgin Media, Inc. | 1,005 | |||||||||
15,860 | |||||||||||
Multiline Retail — 0.6% | |||||||||||
28 | Big Lots, Inc. (a) | 908 | |||||||||
44 | J.C. Penney Co., Inc. | 952 | |||||||||
100 | Macy’s, Inc. | 1,799 | |||||||||
3,659 | |||||||||||
Specialty Retail — 4.1% | |||||||||||
72 | Aeropostale, Inc. (a) | 2,066 | |||||||||
81 | AnnTaylor Stores Corp. (a) | 1,314 | |||||||||
99 | Cabela’s, Inc. (a) | 1,394 | |||||||||
116 | Collective Brands, Inc. (a) | 1,835 | |||||||||
78 | Foot Locker, Inc. | 979 | |||||||||
103 | GameStop Corp., Class A (a) | 1,940 | |||||||||
42 | Guess?, Inc. | 1,324 | |||||||||
34 | Gymboree Corp. (a) | 1,431 | |||||||||
45 | Jo-Ann Stores, Inc. (a) | 1,682 | |||||||||
83 | Limited Brands, Inc. | 1,827 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Long Positions — Continued | |||||||||||
Specialty Retail — Continued | |||||||||||
69 | OfficeMax, Inc. (a) | 904 | |||||||||
103 | Penske Automotive Group, Inc. (a) | 1,174 | |||||||||
47 | Rent-A-Center, Inc. (a) | 953 | |||||||||
32 | Ross Stores, Inc. | 1,687 | |||||||||
34 | Tiffany & Co. | 1,289 | |||||||||
76 | Williams-Sonoma, Inc. | 1,891 | |||||||||
23,690 | |||||||||||
Textiles, Apparel & Luxury Goods — 2.1% | |||||||||||
70 | Carter’s, Inc. (a) | 1,849 | |||||||||
7 | Deckers Outdoor Corp. (a) | 952 | |||||||||
54 | Fossil, Inc. (a) | 1,889 | |||||||||
41 | Hanesbrands, Inc. (a) | 997 | |||||||||
109 | Jones Apparel Group, Inc. | 1,726 | |||||||||
53 | Skechers U.S.A., Inc., Class A (a) | 1,953 | |||||||||
14 | V.F. Corp. | 976 | |||||||||
45 | �� | Warnaco Group, Inc. (The) (a) | 1,613 | ||||||||
11,955 | |||||||||||
Total Consumer Discretionary | 105,807 | ||||||||||
Consumer Staples — 3.9% | |||||||||||
Beverages — 0.0% (g) | |||||||||||
3 | Dr. Pepper Snapple Group, Inc. | 103 | |||||||||
Food & Staples Retailing — 0.1% | |||||||||||
15 | Safeway, Inc. | 295 | |||||||||
Food Products — 1.7% | |||||||||||
39 | Archer-Daniels-Midland Co. | 1,013 | |||||||||
45 | Corn Products International, Inc. | 1,354 | |||||||||
26 | Dean Foods Co. (a) | 259 | |||||||||
70 | Del Monte Foods Co. | 1,007 | |||||||||
48 | Fresh Del Monte Produce, Inc., (Cayman Islands) (a) | 977 | |||||||||
19 | Lancaster Colony Corp. | 1,009 | |||||||||
28 | Sanderson Farms, Inc. | 1,403 | |||||||||
71 | Sara Lee Corp. | 999 | |||||||||
95 | Tyson Foods, Inc., Class A | 1,552 | |||||||||
9,573 | |||||||||||
Household Products — 0.2% | |||||||||||
27 | Energizer Holdings, Inc. (a) | 1,342 | |||||||||
Personal Products — 0.8% | |||||||||||
44 | Herbalife Ltd., (Cayman Islands) | 2,020 | |||||||||
29 | NBTY, Inc. (a) | 989 | |||||||||
64 | Nu Skin Enterprises, Inc., Class A | 1,594 | |||||||||
4,603 | |||||||||||
Tobacco — 1.1% | |||||||||||
71 | Altria Group, Inc. | 1,419 | |||||||||
27 | Lorillard, Inc. | 1,917 | |||||||||
34 | Reynolds American, Inc. | 1,793 | |||||||||
35 | Universal Corp. | 1,404 | |||||||||
6,533 | |||||||||||
Total Consumer Staples | 22,449 | ||||||||||
Energy — 5.7% | |||||||||||
Energy Equipment & Services — 2.2% | |||||||||||
74 | Atwood Oceanics, Inc. (a) | 1,891 | |||||||||
131 | Complete Production Services, Inc. (a) | 1,877 | |||||||||
22 | Exterran Holdings, Inc. (a) | 576 | |||||||||
54 | National Oilwell Varco, Inc. | 1,791 | |||||||||
65 | Noble Corp., (Switzerland) (a) | 2,018 | |||||||||
25 | Oil States International, Inc. (a) | 986 | |||||||||
44 | Rowan Cos., Inc. (a) | 960 | |||||||||
38 | Transocean Ltd., (Switzerland) (a) | 1,779 | |||||||||
24 | Unit Corp. (a) | 971 | |||||||||
12,849 | |||||||||||
Oil, Gas & Consumable Fuels — 3.5% | |||||||||||
51 | Anadarko Petroleum Corp. | 1,831 | |||||||||
21 | Apache Corp. | 1,790 | |||||||||
87 | Chesapeake Energy Corp. | 1,825 | |||||||||
26 | Cimarex Energy Co. | 1,876 | |||||||||
32 | Concho Resources, Inc. (a) | 1,789 | |||||||||
25 | ConocoPhillips | 1,221 | |||||||||
30 | Devon Energy Corp. | 1,829 | |||||||||
27 | Forest Oil Corp. (a) | 748 | |||||||||
9 | Hess Corp. | 466 | |||||||||
32 | Marathon Oil Corp. | 981 | |||||||||
37 | Newfield Exploration Co. (a) | 1,787 | |||||||||
85 | Quicksilver Resources, Inc. (a) | 930 | |||||||||
32 | Swift Energy Co. (a) | 864 | |||||||||
29 | Valero Energy Corp. | 512 | |||||||||
73 | Williams Cos., Inc. (The) | 1,337 | |||||||||
19,786 | |||||||||||
Total Energy | 32,635 | ||||||||||
Financials — 11.4% | |||||||||||
Capital Markets — 0.6% | |||||||||||
5 | Ameriprise Financial, Inc. | 182 | |||||||||
54 | Bank of New York Mellon Corp. (The) | 1,331 | |||||||||
14 | Goldman Sachs Group, Inc. (The) | 1,803 | |||||||||
8 | State Street Corp. | 272 | |||||||||
3,588 |
JPMorgan Multi-Cap Market Neutral Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Long Positions — Continued | |||||||||||
Commercial Banks — 2.6% | |||||||||||
39 | Bank of Hawaii Corp. | 1,899 | |||||||||
26 | Cullen/Frost Bankers, Inc. | 1,351 | |||||||||
119 | FNB Corp. | 954 | |||||||||
98 | Fulton Financial Corp. | 947 | |||||||||
19 | M&T Bank Corp. | 1,584 | |||||||||
25 | PNC Financial Services Group, Inc. | 1,399 | |||||||||
39 | Prosperity Bancshares, Inc. | 1,371 | |||||||||
36 | Signature Bank (a) | 1,379 | |||||||||
42 | TCF Financial Corp. | 695 | |||||||||
66 | Trustmark Corp. | 1,368 | |||||||||
52 | Wells Fargo & Co. | 1,320 | |||||||||
28 | Wintrust Financial Corp. | 946 | |||||||||
15,213 | |||||||||||
Consumer Finance — 1.1% | |||||||||||
70 | AmeriCredit Corp. (a) | 1,272 | |||||||||
46 | Capital One Financial Corp. | 1,835 | |||||||||
43 | Cash America International, Inc. | 1,471 | |||||||||
173 | SLM Corp. (a) | 1,796 | |||||||||
6,374 | |||||||||||
Diversified Financial Services — 0.4% | |||||||||||
409 | Citigroup, Inc. (a) | 1,537 | |||||||||
24 | NYSE Euronext | 657 | |||||||||
2,194 | |||||||||||
Insurance — 5.7% | |||||||||||
33 | ACE Ltd., (Switzerland) | 1,689 | |||||||||
43 | Aflac, Inc. | 1,838 | |||||||||
38 | Allied World Assurance Co. Holdings Ltd., (Bermuda) | 1,739 | |||||||||
60 | American Financial Group, Inc. | 1,628 | |||||||||
25 | Arch Capital Group Ltd., (Bermuda) (a) | 1,855 | |||||||||
55 | Assurant, Inc. | 1,923 | |||||||||
27 | Chubb Corp. | 1,331 | |||||||||
58 | CNA Financial Corp. (a) | 1,488 | |||||||||
351 | CNO Financial Group, Inc. (a) | 1,739 | |||||||||
52 | Endurance Specialty Holdings Ltd., (Bermuda) | 1,946 | |||||||||
43 | Hartford Financial Services Group, Inc. | 950 | |||||||||
20 | MetLife, Inc. | 751 | |||||||||
102 | Montpelier Re Holdings Ltd., (Bermuda) | 1,526 | |||||||||
42 | Platinum Underwriters Holdings Ltd., (Bermuda) | 1,530 | |||||||||
10 | ProAssurance Corp. (a) | 548 | |||||||||
78 | Protective Life Corp. | 1,667 | |||||||||
28 | Prudential Financial, Inc. | 1,522 | |||||||||
36 | RenaissanceRe Holdings Ltd., (Bermuda) | 2,023 | |||||||||
9 | StanCorp Financial Group, Inc. | 349 | |||||||||
27 | Torchmark Corp. | 1,327 | |||||||||
31 | Travelers Cos., Inc. (The) | 1,551 | |||||||||
38 | W.R. Berkley Corp. | 996 | |||||||||
59 | XL Capital Ltd., (Bermuda), Class A | 951 | |||||||||
32,867 | |||||||||||
Real Estate Investment Trusts (REITs) — 0.7% | |||||||||||
44 | Colonial Properties Trust | 643 | |||||||||
35 | Douglas Emmett, Inc. (m) | 493 | |||||||||
54 | Duke Realty Corp. | 607 | |||||||||
22 | Liberty Property Trust | 638 | |||||||||
7 | Simon Property Group, Inc. | 604 | |||||||||
16 | Taubman Centers, Inc. | 584 | |||||||||
8 | Vornado Realty Trust | 562 | |||||||||
4,131 | |||||||||||
Thrifts & Mortgage Finance — 0.3% | |||||||||||
81 | Hudson City Bancorp, Inc. | 996 | |||||||||
36 | New York Community Bancorp, Inc. | 547 | |||||||||
1,543 | |||||||||||
Total Financials | 65,910 | ||||||||||
Health Care — 8.9% | |||||||||||
Biotechnology — 1.5% | |||||||||||
28 | Amgen, Inc. (a) | 1,494 | |||||||||
49 | Amylin Pharmaceuticals, Inc. (a) | 916 | |||||||||
32 | Cephalon, Inc. (a) | 1,841 | |||||||||
70 | InterMune, Inc. (a) | 653 | |||||||||
81 | Isis Pharmaceuticals, Inc. (a) | 780 | |||||||||
10 | Myriad Genetics, Inc. (a) | 156 | |||||||||
31 | Onyx Pharmaceuticals, Inc. (a) | 662 | |||||||||
36 | United Therapeutics Corp. (a) | 1,753 | |||||||||
8,255 | |||||||||||
Health Care Equipment & Supplies — 1.2% | |||||||||||
134 | Hologic, Inc. (a) | 1,870 | |||||||||
18 | Hospira, Inc. (a) | 1,031 | |||||||||
27 | Integra LifeSciences Holdings Corp. (a) | 985 | |||||||||
6 | Intuitive Surgical, Inc. (a) | 1,788 | |||||||||
9 | Kinetic Concepts, Inc. (a) | 313 | |||||||||
28 | Sirona Dental Systems, Inc. (a) | 963 | |||||||||
6,950 | |||||||||||
Health Care Providers & Services — 3.3% | |||||||||||
43 | Amedisys, Inc. (a) | 1,874 | |||||||||
32 | AmerisourceBergen Corp. | 1,029 | |||||||||
55 | Cardinal Health, Inc. | 1,835 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Long Positions — Continued | |||||||||||
Health Care Providers & Services — Continued | |||||||||||
56 | Community Health Systems, Inc. (a) | 1,887 | |||||||||
12 | Emergency Medical Services Corp., Class A (a) | 584 | |||||||||
28 | Express Scripts, Inc. (a) | 1,322 | |||||||||
101 | Healthsouth Corp. (a) | 1,882 | |||||||||
106 | Healthspring, Inc. (a) | 1,649 | |||||||||
43 | Humana, Inc. (a) | 1,982 | |||||||||
6 | McKesson Corp. | 429 | |||||||||
33 | Medco Health Solutions, Inc. (a) | 1,823 | |||||||||
79 | Omnicare, Inc. | 1,870 | |||||||||
20 | WellPoint, Inc. (a) | 977 | |||||||||
19,143 | |||||||||||
Life Sciences Tools & Services — 0.6% | |||||||||||
16 | Bio-Rad Laboratories, Inc., Class A (a) | 1,378 | |||||||||
15 | Life Technologies Corp. (a) | 731 | |||||||||
20 | Waters Corp. (a) | 1,305 | |||||||||
3,414 | |||||||||||
Pharmaceuticals — 2.3% | |||||||||||
62 | Bristol-Myers Squibb Co. | 1,547 | |||||||||
58 | Eli Lilly & Co. | 1,937 | |||||||||
85 | Endo Pharmaceuticals Holdings, Inc. (a) | 1,854 | |||||||||
74 | Forest Laboratories, Inc. (a) | 2,027 | |||||||||
87 | Impax Laboratories, Inc. (a) | 1,658 | |||||||||
173 | King Pharmaceuticals, Inc. (a) | 1,315 | |||||||||
85 | Medicis Pharmaceutical Corp., Class A | 1,870 | |||||||||
82 | Nektar Therapeutics (a) | 997 | |||||||||
13,205 | |||||||||||
Total Health Care | 50,967 | ||||||||||
Industrials — 11.4% | |||||||||||
Aerospace & Defense — 2.0% | |||||||||||
16 | Alliant Techsystems, Inc. (a) | 987 | |||||||||
16 | General Dynamics Corp. | 957 | |||||||||
22 | ITT Corp. | 992 | |||||||||
26 | L-3 Communications Holdings, Inc. | 1,809 | |||||||||
19 | Lockheed Martin Corp. | 1,382 | |||||||||
33 | Northrop Grumman Corp. | 1,776 | |||||||||
38 | Raytheon Co. | 1,836 | |||||||||
24 | Triumph Group, Inc. | 1,584 | |||||||||
11,323 | |||||||||||
Air Freight & Logistics — 0.5% | |||||||||||
36 | Atlas Air Worldwide Holdings, Inc. (a) | 1,729 | |||||||||
23 | United Parcel Service, Inc., Class B | 1,315 | |||||||||
3,044 | |||||||||||
Airlines — 0.3% | |||||||||||
88 | UAL Corp. (a) | 1,808 | |||||||||
Building Products — 0.6% | |||||||||||
21 | A.O. Smith Corp. | 1,025 | |||||||||
87 | Masco Corp. | 941 | |||||||||
59 | Owens Corning (a) | 1,771 | |||||||||
3,737 | |||||||||||
Commercial Services & Supplies — 0.6% | |||||||||||
69 | Deluxe Corp. | 1,303 | |||||||||
60 | R.R. Donnelley & Sons Co. | 974 | |||||||||
27 | United Stationers, Inc. (a) | 1,469 | |||||||||
3,746 | |||||||||||
Construction & Engineering — 1.0% | |||||||||||
81 | EMCOR Group, Inc. (a) | 1,875 | |||||||||
44 | MasTec, Inc. (a) | 411 | |||||||||
60 | Shaw Group, Inc. (The) (a) | 2,067 | |||||||||
37 | URS Corp. (a) | 1,468 | |||||||||
5,821 | |||||||||||
Electrical Equipment — 1.5% | |||||||||||
57 | Belden, Inc. | 1,249 | |||||||||
46 | EnerSys (a) | 979 | |||||||||
64 | General Cable Corp. (a) | 1,719 | |||||||||
89 | GrafTech International Ltd. (a) | 1,301 | |||||||||
33 | Regal-Beloit Corp. | 1,864 | |||||||||
44 | Thomas & Betts Corp. (a) | 1,536 | |||||||||
8,648 | |||||||||||
Industrial Conglomerates — 0.6% | |||||||||||
47 | General Electric Co. | 678 | |||||||||
99 | Textron, Inc. | 1,680 | |||||||||
28 | Tyco International Ltd., (Switzerland) | 981 | |||||||||
3,339 | |||||||||||
Machinery — 2.7% | |||||||||||
69 | ArvinMeritor, Inc. (a) | 904 | |||||||||
26 | Briggs & Stratton Corp. | 443 | |||||||||
8 | Crane Co. | 240 | |||||||||
9 | Deere & Co. | 507 | |||||||||
15 | Eaton Corp. | 963 | |||||||||
46 | Graco, Inc. | 1,310 | |||||||||
34 | Joy Global, Inc. | 1,712 | |||||||||
42 | Navistar International Corp. (a) | 2,083 | |||||||||
4 | Nordson Corp. | 239 | |||||||||
56 | Oshkosh Corp. (a) | 1,750 | |||||||||
34 | SPX Corp. | 1,801 |
JPMorgan Multi-Cap Market Neutral Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Long Positions — Continued | |||||||||||
Machinery — Continued | |||||||||||
67 | Timken Co. | 1,742 | |||||||||
32 | Toro Co. (The) | 1,566 | |||||||||
15,260 | |||||||||||
Marine — 0.2% | |||||||||||
32 | Alexander & Baldwin, Inc. | 955 | |||||||||
Road & Rail — 0.8% | |||||||||||
125 | Avis Budget Group, Inc. (a) | 1,223 | |||||||||
51 | �� | Con-way, Inc. | 1,523 | ||||||||
6 | CSX Corp. | 302 | |||||||||
27 | Norfolk Southern Corp. | 1,415 | |||||||||
4,463 | |||||||||||
Trading Companies & Distributors — 0.6% | |||||||||||
54 | Applied Industrial Technologies, Inc. | 1,356 | |||||||||
61 | WESCO International, Inc. (a) | 2,069 | |||||||||
3,425 | |||||||||||
Total Industrials | 65,569 | ||||||||||
Information Technology — 13.6% | |||||||||||
Communications Equipment — 2.7% | |||||||||||
175 | Arris Group, Inc. (a) | 1,787 | |||||||||
77 | Blue Coat Systems, Inc. (a) | 1,566 | |||||||||
40 | CommScope, Inc. (a) | 961 | |||||||||
50 | Comtech Telecommunications Corp. (a) | 1,484 | |||||||||
20 | F5 Networks, Inc. (a) | 1,378 | |||||||||
44 | Harris Corp. | 1,829 | |||||||||
57 | InterDigital, Inc. (a) | 1,412 | |||||||||
293 | Motorola, Inc. (a) | 1,910 | |||||||||
52 | Plantronics, Inc. | 1,492 | |||||||||
219 | Tellabs, Inc. | 1,399 | |||||||||
15,218 | |||||||||||
Computers & Peripherals — 1.3% | |||||||||||
37 | Diebold, Inc. | 1,010 | |||||||||
53 | Lexmark International, Inc., Class A (a) | 1,762 | |||||||||
22 | SanDisk Corp. (a) | 943 | |||||||||
140 | Seagate Technology, (Cayman Islands) (a) | 1,822 | |||||||||
60 | Western Digital Corp. (a) | 1,814 | |||||||||
7,351 | |||||||||||
Electronic Equipment, Instruments & Components — 1.9% | |||||||||||
79 | Arrow Electronics, Inc. (a) | 1,772 | |||||||||
59 | Avnet, Inc. (a) | 1,433 | |||||||||
116 | Celestica, Inc., (Canada) (a) | 938 | |||||||||
110 | Corning, Inc. | 1,776 | |||||||||
164 | Flextronics International Ltd., (Singapore) (a) | 920 | |||||||||
43 | Tech Data Corp. (a) | 1,518 | |||||||||
38 | Tyco Electronics Ltd., (Switzerland) | 952 | |||||||||
239 | Vishay Intertechnology, Inc. (a) | 1,847 | |||||||||
11,156 | |||||||||||
Internet Software & Services — 0.5% | |||||||||||
31 | EarthLink, Inc. | 248 | |||||||||
34 | GSI Commerce, Inc. (a) | 978 | |||||||||
83 | IAC/InterActiveCorp. (a) | 1,826 | |||||||||
3,052 | |||||||||||
IT Services — 2.1% | |||||||||||
47 | Accenture plc, (Ireland), Class A | 1,822 | |||||||||
22 | Alliance Data Systems Corp. (a) | 1,299 | |||||||||
14 | Amdocs Ltd., (United Kingdom) (a) | 378 | |||||||||
91 | Broadridge Financial Solutions, Inc. | 1,730 | |||||||||
20 | CACI International, Inc., Class A (a) | 867 | |||||||||
22 | Computer Sciences Corp. | 976 | |||||||||
101 | Convergys Corp. (a) | 990 | |||||||||
26 | Lender Processing Services, Inc. | 825 | |||||||||
82 | Unisys Corp. (a) | 1,512 | |||||||||
92 | VeriFone Systems, Inc. (a) | 1,744 | |||||||||
12,143 | |||||||||||
Office Electronics — 0.2% | |||||||||||
118 | Xerox Corp. | 950 | |||||||||
Semiconductors & Semiconductor Equipment — 3.7% | |||||||||||
236 | Advanced Micro Devices, Inc. (a) | 1,730 | |||||||||
309 | Amkor Technology, Inc. (a) | 1,701 | |||||||||
47 | Atheros Communications, Inc. (a) | 1,287 | |||||||||
215 | Fairchild Semiconductor International, Inc. (a) | 1,808 | |||||||||
82 | Integrated Device Technology, Inc. (a) | 407 | |||||||||
56 | Intersil Corp., Class A | 681 | |||||||||
52 | KLA-Tencor Corp. | 1,456 | |||||||||
35 | Lam Research Corp. (a) | 1,319 | |||||||||
221 | Micron Technology, Inc. (a) | 1,878 | |||||||||
136 | National Semiconductor Corp. | 1,831 | |||||||||
64 | Novellus Systems, Inc. (a) | 1,617 | |||||||||
155 | ON Semiconductor Corp. (a) | 987 | |||||||||
443 | RF Micro Devices, Inc. (a) | 1,734 | |||||||||
78 | SunPower Corp., Class A (a) | 942 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Long Positions — Continued | |||||||||||
Semiconductors & Semiconductor Equipment — Continued | |||||||||||
180 | Teradyne, Inc. (a) | 1,752 | |||||||||
36 | TriQuint Semiconductor, Inc. (a) | 218 | |||||||||
21,348 | |||||||||||
Software — 1.2% | |||||||||||
187 | Activision Blizzard, Inc. | 1,960 | |||||||||
45 | AsiaInfo Holdings, Inc., (China) (a) | 979 | |||||||||
53 | CA, Inc. | 977 | |||||||||
165 | Cadence Design Systems, Inc. (a) | 957 | |||||||||
69 | Quest Software, Inc. (a) | 1,236 | |||||||||
72 | Symantec Corp. (a) | 994 | |||||||||
7,103 | |||||||||||
Total Information Technology | 78,321 | ||||||||||
Materials — 6.2% | |||||||||||
Chemicals — 3.3% | |||||||||||
37 | Ashland, Inc. | 1,723 | |||||||||
39 | Cabot Corp. | 941 | |||||||||
53 | Celanese Corp., Class A | 1,311 | |||||||||
28 | CF Industries Holdings, Inc. | 1,794 | |||||||||
45 | Cytec Industries, Inc. | 1,794 | |||||||||
12 | Eastman Chemical Co. | 662 | |||||||||
114 | Huntsman Corp. | 986 | |||||||||
23 | Lubrizol Corp. | 1,876 | |||||||||
88 | Nalco Holding Co. | 1,802 | |||||||||
20 | NewMarket Corp. | 1,773 | |||||||||
60 | OM Group, Inc. (a) | 1,432 | |||||||||
43 | Rockwood Holdings, Inc. (a) | 967 | |||||||||
136 | Solutia, Inc. (a) | 1,776 | |||||||||
18,837 | |||||||||||
Containers & Packaging — 0.7% | |||||||||||
37 | Owens-Illinois, Inc. (a) | 966 | |||||||||
37 | Rock-Tenn Co., Class A | 1,829 | |||||||||
71 | Sealed Air Corp. | 1,409 | |||||||||
4,204 | |||||||||||
Metals & Mining — 1.9% | |||||||||||
34 | Cliffs Natural Resources, Inc. | 1,599 | |||||||||
29 | Freeport-McMoRan Copper & Gold, Inc. | 1,698 | |||||||||
11 | Newmont Mining Corp. | 687 | |||||||||
36 | Reliance Steel & Aluminum Co. | 1,303 | |||||||||
44 | Schnitzer Steel Industries, Inc., Class A | 1,741 | |||||||||
65 | Southern Copper Corp. | 1,714 | |||||||||
73 | Steel Dynamics, Inc. | 968 | |||||||||
78 | Worthington Industries, Inc. | 1,009 | |||||||||
10,719 | |||||||||||
Paper & Forest Products — 0.3% | |||||||||||
36 | Domtar Corp., (Canada) | 1,791 | |||||||||
11 | International Paper Co. | 244 | |||||||||
2,035 | |||||||||||
Total Materials | 35,795 | ||||||||||
Telecommunication Services — 1.3% | |||||||||||
Diversified Telecommunication Services — 0.6% | |||||||||||
195 | Frontier Communications Corp. | 1,388 | |||||||||
962 | Level 3 Communications, Inc. (a) | 1,048 | |||||||||
29 | Verizon Communications, Inc. | 808 | |||||||||
3,244 | |||||||||||
Wireless Telecommunication Services — 0.7% | |||||||||||
123 | MetroPCS Communications, Inc. (a) | 1,005 | |||||||||
53 | NII Holdings, Inc. (a) | 1,716 | |||||||||
62 | Syniverse Holdings, Inc. (a) | 1,277 | |||||||||
3,998 | |||||||||||
Total Telecommunication Services | 7,242 | ||||||||||
Utilities — 4.5% | |||||||||||
Electric Utilities — 1.5% | |||||||||||
58 | Edison International | 1,855 | |||||||||
36 | Exelon Corp. | 1,380 | |||||||||
34 | FirstEnergy Corp. | 1,191 | |||||||||
89 | PNM Resources, Inc. | 999 | |||||||||
77 | PPL Corp. | 1,913 | |||||||||
34 | UniSource Energy Corp. | 1,019 | |||||||||
8,357 | |||||||||||
Gas Utilities — 1.0% | |||||||||||
50 | Atmos Energy Corp. | 1,352 | |||||||||
42 | Energen Corp. | 1,860 | |||||||||
42 | Oneok, Inc. | 1,828 | |||||||||
39 | UGI Corp. | 1,000 | |||||||||
6,040 | |||||||||||
Independent Power Producers & Energy Traders — 1.0% | |||||||||||
194 | AES Corp. (The) (a) | 1,791 | |||||||||
63 | Constellation Energy Group, Inc. | 2,026 | |||||||||
85 | NRG Energy, Inc. (a) | 1,812 | |||||||||
5,629 | |||||||||||
Multi-Utilities — 1.0% | |||||||||||
68 | Ameren Corp. | 1,622 |
JPMorgan Multi-Cap Market Neutral Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Long Positions — Continued | |||||||||||
Multi-Utilities — Continued | |||||||||||
129 | CMS Energy Corp. | 1,888 | |||||||||
22 | DTE Energy Co. | 1,013 | |||||||||
26 | MDU Resources Group, Inc. | 474 | |||||||||
69 | NiSource, Inc. | 1,005 | |||||||||
6,002 | |||||||||||
Total Utilities | 26,028 | ||||||||||
Total Common Stocks (Cost $474,689) | 490,723 | ||||||||||
Short-Term Investment — 14.9% | |||||||||||
Investment Company — 14.9% | |||||||||||
86,021 | JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.140% (b) (l) (Cost $86,021) | 86,021 | |||||||||
Total Investments — 100.2% (Cost $560,710) | 576,744 | ||||||||||
Liabilities in Excess of Other Assets — (0.2)% | (1,197 | ) | |||||||||
NET ASSETS — 100.0% | $ | 575,547 | |||||||||
Short Positions — 85.5% | |||||||||||
Common Stocks — 85.5% | |||||||||||
Consumer Discretionary — 11.3% | |||||||||||
Auto Components — 0.2% | |||||||||||
77 | Gentex Corp. | 1,383 | |||||||||
Automobiles — 0.2% | |||||||||||
47 | Thor Industries, Inc. | 1,124 | |||||||||
Distributors — 0.1% | |||||||||||
46 | LKQ Corp. (a) | 884 | |||||||||
Diversified Consumer Services — 0.5% | |||||||||||
64 | Regis Corp. | 998 | |||||||||
171 | Service Corp. International | 1,263 | |||||||||
2 | Strayer Education, Inc. | 371 | |||||||||
2,632 | |||||||||||
Hotels, Restaurants & Leisure — 3.0% | |||||||||||
79 | Burger King Holdings, Inc. | 1,333 | |||||||||
32 | Carnival Corp. | 959 | |||||||||
9 | Chipotle Mexican Grill, Inc. (a) | 1,210 | |||||||||
5 | Choice Hotels International, Inc. | 158 | |||||||||
56 | Gaylord Entertainment Co. (a) | 1,232 | |||||||||
20 | McDonald’s Corp. | 1,307 | |||||||||
161 | MGM Resorts International (a) | 1,556 | |||||||||
156 | Orient-Express Hotels Ltd., (Bermuda), Class A (a) | 1,154 | |||||||||
74 | Royal Caribbean Cruises Ltd. (a) | 1,674 | |||||||||
55 | Scientific Games Corp., Class A (a) | 509 | |||||||||
43 | Vail Resorts, Inc. (a) | 1,510 | |||||||||
52 | WMS Industries, Inc. (a) | 2,037 | |||||||||
61 | Yum! Brands, Inc. | 2,381 | |||||||||
17,020 | |||||||||||
Household Durables — 1.0% | |||||||||||
15 | Lennar Corp., Class A | 215 | |||||||||
66 | MDC Holdings, Inc. | 1,788 | |||||||||
2 | NVR, Inc. (a) | 1,336 | |||||||||
26 | Stanley Black & Decker, Inc. | 1,303 | |||||||||
78 | Toll Brothers, Inc. (a) | 1,278 | |||||||||
5,920 | |||||||||||
Internet & Catalog Retail — 0.3% | |||||||||||
10 | priceline.com, Inc. (a) | 1,710 | |||||||||
Leisure Equipment & Products — 0.2% | |||||||||||
86 | Brunswick Corp. | 1,064 | |||||||||
Media — 1.8% | |||||||||||
61 | Central European Media Enterprises Ltd., (Bermuda), Class A (a) | 1,206 | |||||||||
63 | DreamWorks Animation SKG, Inc., Class A (a) | 1,785 | |||||||||
52 | Lamar Advertising Co., Class A (a) | 1,270 | |||||||||
168 | Live Nation Entertainment, Inc. (a) | 1,760 | |||||||||
38 | Meredith Corp. | 1,192 | |||||||||
24 | Scripps Networks Interactive, Inc., Class A | 963 | |||||||||
40 | Viacom, Inc., Class B | 1,257 | |||||||||
23 | Walt Disney Co. (The) | 725 | |||||||||
10,158 | |||||||||||
Multiline Retail — 0.2% | |||||||||||
165 | Saks, Inc. (a) | 1,254 | |||||||||
Specialty Retail — 3.3% | |||||||||||
27 | Abercrombie & Fitch Co., Class A | 828 | |||||||||
87 | CarMax, Inc. (a) | 1,724 | |||||||||
17 | Children’s Place Retail Stores, Inc. (The) (a) | 728 | |||||||||
51 | Dick’s Sporting Goods, Inc. (a) | 1,268 | |||||||||
52 | hhgregg, Inc. (a) | 1,222 | |||||||||
34 | Home Depot, Inc. | 960 | |||||||||
48 | Lowe’s Cos., Inc. | 989 | |||||||||
53 | Men’s Wearhouse, Inc. (The) | 970 | |||||||||
406 | Office Depot, Inc. (a) | 1,641 | |||||||||
51 | O’Reilly Automotive, Inc. (a) | 2,418 | |||||||||
63 | RadioShack Corp. | 1,232 | |||||||||
39 | Sally Beauty Holdings, Inc. (a) | 319 | |||||||||
73 | Staples, Inc. | 1,394 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Short Positions — Continued | |||||||||||
Specialty Retail — Continued | |||||||||||
107 | Talbots, Inc. (a) | 1,102 | |||||||||
23 | Tractor Supply Co. | 1,420 | |||||||||
29 | Urban Outfitters, Inc. (a) | 985 | |||||||||
19,200 | |||||||||||
Textiles, Apparel & Luxury Goods — 0.5% | |||||||||||
15 | Nike, Inc., Class B | 995 | |||||||||
56 | Under Armour, Inc., Class A (a) | 1,842 | |||||||||
2,837 | |||||||||||
Total Consumer Discretionary | 65,186 | ||||||||||
Consumer Staples — 5.8% | |||||||||||
Beverages — 1.1% | |||||||||||
23 | Brown-Forman Corp., Class B | 1,318 | |||||||||
38 | Coca-Cola Co. (The) | 1,892 | |||||||||
34 | Hansen Natural Corp. (a) | 1,322 | |||||||||
31 | PepsiCo, Inc. | 1,865 | |||||||||
6,397 | |||||||||||
Food & Staples Retailing — 1.7% | |||||||||||
49 | BJ’s Wholesale Club, Inc. (a) | 1,831 | |||||||||
31 | Costco Wholesale Corp. | 1,719 | |||||||||
1,330 | Rite Aid Corp. (a) | 1,303 | |||||||||
54 | Ruddick Corp. | 1,677 | |||||||||
50 | Walgreen Co. | 1,332 | |||||||||
46 | Whole Foods Market, Inc. (a) | 1,671 | |||||||||
9,533 | |||||||||||
Food Products — 1.9% | |||||||||||
36 | Bunge Ltd. | 1,750 | |||||||||
42 | Flowers Foods, Inc. | 1,033 | |||||||||
69 | Green Mountain Coffee Roasters, Inc. (a) | 1,777 | |||||||||
63 | Kraft Foods, Inc., Class A | 1,775 | |||||||||
27 | McCormick & Co., Inc. (Non-Voting) | 1,006 | |||||||||
35 | Mead Johnson Nutrition Co. | 1,764 | |||||||||
36 | TreeHouse Foods, Inc. (a) | 1,634 | |||||||||
10,739 | |||||||||||
Household Products — 0.8% | |||||||||||
33 | Church & Dwight Co., Inc. | 2,045 | |||||||||
29 | Clorox Co. | 1,822 | |||||||||
13 | Colgate-Palmolive Co. | 1,030 | |||||||||
4,897 | |||||||||||
Personal Products — 0.3% | |||||||||||
69 | Alberto-Culver Co. | 1,856 | |||||||||
Total Consumer Staples | 33,422 | ||||||||||
Energy — 7.9% | |||||||||||
Energy Equipment & Services — 2.0% | |||||||||||
44 | Bristow Group, Inc. (a) | 1,294 | |||||||||
11 | CARBO Ceramics, Inc. | 770 | |||||||||
160 | Helix Energy Solutions Group, Inc. (a) | 1,725 | |||||||||
181 | Key Energy Services, Inc. (a) | 1,664 | |||||||||
12 | Lufkin Industries, Inc. | 450 | |||||||||
136 | Patterson-UTI Energy, Inc. | 1,756 | |||||||||
59 | Pride International, Inc. (a) | 1,315 | |||||||||
18 | Schlumberger Ltd. | 982 | |||||||||
128 | Weatherford International Ltd., (Switzerland) (a) | 1,676 | |||||||||
11,632 | |||||||||||
Oil, Gas & Consumable Fuels — 5.9% | |||||||||||
38 | Alpha Natural Resources, Inc. (a) | 1,293 | |||||||||
82 | Arch Coal, Inc. | 1,631 | |||||||||
63 | Atlas Energy, Inc. (a) | 1,693 | |||||||||
59 | Brigham Exploration Co. (a) | 902 | |||||||||
116 | Clean Energy Fuels Corp. (a) | 1,740 | |||||||||
33 | Comstock Resources, Inc. (a) | 915 | |||||||||
113 | Denbury Resources, Inc. (a) | 1,661 | |||||||||
20 | EOG Resources, Inc. | 1,968 | |||||||||
88 | EXCO Resources, Inc. | 1,292 | |||||||||
21 | Exxon Mobil Corp. | 1,202 | |||||||||
93 | Frontier Oil Corp. | 1,248 | |||||||||
152 | McMoRan Exploration Co. (a) | 1,684 | |||||||||
63 | Nordic American Tanker Shipping, (Bermuda) | 1,779 | |||||||||
41 | Overseas Shipholding Group, Inc. | 1,522 | |||||||||
95 | Patriot Coal Corp. (a) | 1,114 | |||||||||
78 | Petrohawk Energy Corp. (a) | 1,325 | |||||||||
62 | Plains Exploration & Production Co. (a) | 1,277 | |||||||||
30 | Range Resources Corp. | 1,205 | |||||||||
165 | SandRidge Energy, Inc. (a) | 959 | |||||||||
43 | Southwestern Energy Co. (a) | 1,653 | |||||||||
112 | Spectra Energy Corp. | 2,256 | |||||||||
57 | Teekay Corp., (Canada) | 1,502 | |||||||||
148 | Tesoro Corp. | 1,723 | |||||||||
33,544 | |||||||||||
Total Energy | 45,176 | ||||||||||
Financials — 12.4% | |||||||||||
Capital Markets — 2.5% | |||||||||||
124 | Charles Schwab Corp. (The) | 1,765 | |||||||||
143 | E*Trade Financial Corp. (a) | 1,687 | |||||||||
30 | Greenhill & Co., Inc. | 1,830 | |||||||||
89 | Invesco Ltd. | 1,500 | |||||||||
191 | Janus Capital Group, Inc. | 1,699 |
JPMorgan Multi-Cap Market Neutral Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Short Positions — Continued | |||||||||||
Capital Markets — Continued | |||||||||||
51 | Legg Mason, Inc. | 1,418 | |||||||||
86 | optionsXpress Holdings, Inc. (a) | 1,352 | |||||||||
28 | Stifel Financial Corp. (a) | 1,225 | |||||||||
25 | T. Rowe Price Group, Inc. | 1,131 | |||||||||
63 | TD AMERITRADE Holding Corp. (a) | 963 | |||||||||
14,570 | |||||||||||
Commercial Banks — 4.3% | |||||||||||
142 | Associated Banc-Corp. | 1,742 | |||||||||
63 | BancorpSouth, Inc. | 1,121 | |||||||||
365 | CapitalSource, Inc. | 1,736 | |||||||||
15 | Comerica, Inc. | 540 | |||||||||
158 | First Horizon National Corp. (a) | 1,812 | |||||||||
89 | First Midwest Bancorp, Inc. | 1,081 | |||||||||
96 | Glacier Bancorp, Inc. | 1,408 | |||||||||
20 | Iberiabank Corp. | 1,054 | |||||||||
281 | KeyCorp | 2,162 | |||||||||
235 | Marshall & Ilsley Corp. | 1,686 | |||||||||
192 | Regions Financial Corp. | 1,265 | |||||||||
664 | Synovus Financial Corp. | 1,687 | |||||||||
43 | U.S. Bancorp | 950 | |||||||||
120 | Umpqua Holdings Corp. | 1,376 | |||||||||
68 | Webster Financial Corp. | 1,229 | |||||||||
6 | Westamerica Bancorp | 293 | |||||||||
134 | Whitney Holding Corp. | 1,241 | |||||||||
117 | Wilmington Trust Corp. | 1,296 | |||||||||
56 | Zions Bancorp | 1,216 | |||||||||
24,895 | |||||||||||
Diversified Financial Services — 0.6% | |||||||||||
3 | CME Group, Inc. | 968 | |||||||||
9 | IntercontinentalExchange, Inc. (a) | 987 | |||||||||
46 | MSCI, Inc., Class A (a) | 1,265 | |||||||||
3,220 | |||||||||||
Insurance — 2.4% | |||||||||||
13 | AON Corp. | 488 | |||||||||
40 | Arthur J. Gallagher & Co. | 972 | |||||||||
52 | Brown & Brown, Inc. | 999 | |||||||||
68 | Cincinnati Financial Corp. | 1,758 | |||||||||
5 | Markel Corp. (a) | 1,739 | |||||||||
80 | Marsh & McLennan Cos., Inc. | 1,804 | |||||||||
297 | MBIA, Inc. (a) | 1,667 | |||||||||
145 | Old Republic International Corp. | 1,758 | |||||||||
1 | Reinsurance Group of America, Inc. | 58 | |||||||||
27 | Transatlantic Holdings, Inc. | 1,306 | |||||||||
4 | White Mountains Insurance Group Ltd. | 1,281 | |||||||||
13,830 | |||||||||||
Real Estate Investment Trusts (REITs) — 0.8% | |||||||||||
48 | Apartment Investment & Management Co., Class A | 922 | |||||||||
8 | Boston Properties, Inc. | 542 | |||||||||
15 | BRE Properties, Inc. | 570 | |||||||||
41 | Developers Diversified Realty Corp. | 409 | |||||||||
18 | Home Properties, Inc. | 828 | |||||||||
17 | Kilroy Realty Corp. | 518 | |||||||||
22 | Macerich Co. (The) | 819 | |||||||||
4,608 | |||||||||||
Real Estate Management & Development — 0.1% | |||||||||||
38 | Brookfield Properties Corp. | 530 | |||||||||
Thrifts & Mortgage Finance — 1.7% | |||||||||||
79 | First Niagara Financial Group, Inc. | 990 | |||||||||
232 | MGIC Investment Corp. (a) | 1,598 | |||||||||
125 | Ocwen Financial Corp. (a) | 1,269 | |||||||||
133 | People’s United Financial, Inc. | 1,792 | |||||||||
166 | Radian Group, Inc. | 1,200 | |||||||||
105 | TFS Financial Corp. | 1,307 | |||||||||
79 | Washington Federal, Inc. | 1,276 | |||||||||
9,432 | |||||||||||
Total Financials | 71,085 | ||||||||||
Health Care — 9.0% | |||||||||||
Biotechnology — 1.0% | |||||||||||
30 | Acorda Therapeutics, Inc. (a) | 947 | |||||||||
51 | Alkermes, Inc. (a) | 639 | |||||||||
39 | Cepheid, Inc. (a) | 619 | |||||||||
28 | Dendreon Corp. (a) | 892 | |||||||||
19 | Genzyme Corp. (a) | 981 | |||||||||
142 | Savient Pharmaceuticals, Inc. (a) | 1,793 | |||||||||
5,871 | |||||||||||
Health Care Equipment & Supplies — 2.6% | |||||||||||
9 | Baxter International, Inc. | 384 | |||||||||
31 | Beckman Coulter, Inc. | 1,860 | |||||||||
304 | Boston Scientific Corp. (a) | 1,765 | |||||||||
60 | DENTSPLY International, Inc. | 1,796 | |||||||||
25 | Edwards Lifesciences Corp. (a) | 1,374 | |||||||||
5 | Haemonetics Corp. (a) | 281 | |||||||||
20 | IDEXX Laboratories, Inc. (a) | 1,211 | |||||||||
61 | Masimo Corp. | 1,463 | |||||||||
31 | NuVasive, Inc. (a) | 1,099 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Short Positions — Continued | |||||||||||
Health Care Equipment & Supplies — Continued | |||||||||||
16 | ResMed, Inc. (a) | 966 | |||||||||
57 | Volcano Corp. (a) | 1,243 | |||||||||
38 | West Pharmaceutical Services, Inc. | 1,400 | |||||||||
14,842 | |||||||||||
Health Care Providers & Services — 2.5% | |||||||||||
95 | Brookdale Senior Living, Inc. (a) | 1,425 | |||||||||
71 | Centene Corp. (a) | 1,523 | |||||||||
78 | Coventry Health Care, Inc. (a) | 1,385 | |||||||||
35 | HMS Holdings Corp. (a) | 1,910 | |||||||||
30 | Magellan Health Services, Inc. (a) | 1,072 | |||||||||
32 | Mednax, Inc. (a) | 1,778 | |||||||||
15 | Owens & Minor, Inc. | 412 | |||||||||
35 | Patterson Cos., Inc. | 997 | |||||||||
62 | PSS World Medical, Inc. (a) | 1,306 | |||||||||
40 | VCA Antech, Inc. (a) | 996 | |||||||||
69 | WellCare Health Plans, Inc. (a) | 1,632 | |||||||||
14,436 | |||||||||||
Health Care Technology — 0.7% | |||||||||||
57 | athenahealth, Inc. (a) | 1,501 | |||||||||
43 | MedAssets, Inc. (a) | 997 | |||||||||
28 | Quality Systems, Inc. | 1,620 | |||||||||
4,118 | |||||||||||
Life Sciences Tools & Services — 1.0% | |||||||||||
20 | Covance, Inc. (a) | 1,001 | |||||||||
— | (h) | Furiex Pharmaceuticals, Inc. (a) | — | (h) | |||||||
10 | Illumina, Inc. (a) | 427 | |||||||||
13 | Mettler-Toledo International, Inc., (Switzerland) (a) | 1,437 | |||||||||
40 | Pharmaceutical Product Development, Inc. | 1,005 | |||||||||
26 | Techne Corp. | 1,483 | |||||||||
5,353 | |||||||||||
Pharmaceuticals — 1.2% | |||||||||||
65 | Auxilium Pharmaceuticals, Inc. (a) | 1,518 | |||||||||
52 | Merck & Co., Inc. | 1,821 | |||||||||
49 | Salix Pharmaceuticals Ltd. (a) | 1,922 | |||||||||
44 | Watson Pharmaceuticals, Inc. (a) | 1,772 | |||||||||
7,033 | |||||||||||
Total Health Care | 51,653 | ||||||||||
Industrials — 12.5% | |||||||||||
Aerospace & Defense — 2.1% | |||||||||||
69 | BE Aerospace, Inc. (a) | 1,746 | |||||||||
25 | Curtiss-Wright Corp. | 736 | |||||||||
27 | Goodrich Corp. | 1,798 | |||||||||
79 | Hexcel Corp. (a) | 1,229 | |||||||||
18 | Precision Castparts Corp. | 1,860 | |||||||||
18 | Rockwell Collins, Inc. | 976 | |||||||||
91 | Spirit Aerosystems Holdings, Inc., Class A (a) | 1,739 | |||||||||
38 | TransDigm Group, Inc. | 1,940 | |||||||||
12,024 | |||||||||||
Air Freight & Logistics — 0.2% | |||||||||||
21 | C.H. Robinson Worldwide, Inc. | 1,175 | |||||||||
Airlines — 0.4% | |||||||||||
12 | Allegiant Travel Co. | 512 | |||||||||
230 | AMR Corp. (a) | 1,556 | |||||||||
34 | Southwest Airlines Co. | 383 | |||||||||
2,451 | |||||||||||
Building Products — 0.4% | |||||||||||
34 | Simpson Manufacturing Co., Inc. | 826 | |||||||||
132 | USG Corp. (a) | 1,597 | |||||||||
2,423 | |||||||||||
Commercial Services & Supplies — 2.5% | |||||||||||
55 | Brink’s Co. (The) | 1,052 | |||||||||
28 | Clean Harbors, Inc. (a) | 1,853 | |||||||||
14 | Copart, Inc. (a) | 504 | |||||||||
47 | Corrections Corp. of America (a) | 891 | |||||||||
59 | GEO Group, Inc. (The) (a) | 1,221 | |||||||||
67 | Herman Miller, Inc. | 1,255 | |||||||||
56 | Iron Mountain, Inc. | 1,261 | |||||||||
60 | Republic Services, Inc. | 1,785 | |||||||||
16 | Stericycle, Inc. (a) | 1,027 | |||||||||
51 | Waste Connections, Inc. (a) | 1,796 | |||||||||
51 | Waste Management, Inc. | 1,583 | |||||||||
14,228 | |||||||||||
Construction & Engineering — 0.6% | |||||||||||
53 | Granite Construction, Inc. | 1,247 | |||||||||
94 | Quanta Services, Inc. (a) | 1,935 | |||||||||
3,182 | |||||||||||
Electrical Equipment — 1.4% | |||||||||||
37 | Acuity Brands, Inc. | 1,337 | |||||||||
67 | American Superconductor Corp. (a) | 1,798 | |||||||||
45 | AMETEK, Inc. | 1,809 | |||||||||
6 | Emerson Electric Co. | 262 | |||||||||
32 | Roper Industries, Inc. | 1,795 | |||||||||
45 | Woodward Governor Co. | 1,136 | |||||||||
8,137 |
JPMorgan Multi-Cap Market Neutral Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Short Positions — Continued | |||||||||||
Machinery — 2.5% | |||||||||||
35 | Bucyrus International, Inc. | 1,659 | |||||||||
28 | CLARCOR, Inc. | 1,004 | |||||||||
37 | Danaher Corp. | 1,361 | |||||||||
20 | Donaldson Co., Inc. | 853 | |||||||||
54 | Harsco Corp. | 1,260 | |||||||||
136 | Manitowoc Co., Inc. (The) | 1,246 | |||||||||
18 | Middleby Corp. (a) | 976 | |||||||||
57 | PACCAR, Inc. | 2,265 | |||||||||
28 | Pall Corp. | 975 | |||||||||
89 | Terex Corp. (a) | 1,668 | |||||||||
25 | Wabtec Corp. | 1,000 | |||||||||
14,267 | |||||||||||
Professional Services — 0.9% | |||||||||||
5 | Dun & Bradstreet Corp. | 366 | |||||||||
48 | Equifax, Inc. | 1,355 | |||||||||
18 | IHS, Inc., Class A (a) | 1,052 | |||||||||
53 | Robert Half International, Inc. | 1,258 | |||||||||
33 | Towers Watson & Co., Class A | 1,287 | |||||||||
5,318 | |||||||||||
Road & Rail — 1.1% | |||||||||||
27 | Genesee & Wyoming, Inc., Class A (a) | 1,006 | |||||||||
97 | Heartland Express, Inc. | 1,406 | |||||||||
186 | Hertz Global Holdings, Inc. (a) | 1,763 | |||||||||
10 | J.B. Hunt Transport Services, Inc. | 339 | |||||||||
49 | Knight Transportation, Inc. | 983 | |||||||||
30 | Old Dominion Freight Line, Inc. (a) | 1,045 | |||||||||
6,542 | |||||||||||
Trading Companies & Distributors — 0.4% | |||||||||||
20 | Fastenal Co. | 993 | |||||||||
23 | Watsco, Inc. | 1,306 | |||||||||
2,299 | |||||||||||
Total Industrials | 72,046 | ||||||||||
Information Technology — 14.6% | |||||||||||
Communications Equipment — 1.5% | |||||||||||
37 | ADTRAN, Inc. | 1,017 | |||||||||
132 | Aruba Networks, Inc. (a) | 1,878 | |||||||||
346 | Brocade Communications Systems, Inc. (a) | 1,787 | |||||||||
29 | Juniper Networks, Inc. (a) | 669 | |||||||||
9 | Polycom, Inc. (a) | 258 | |||||||||
36 | Research In Motion Ltd., (Canada) (a) | 1,754 | |||||||||
39 | ViaSat, Inc. (a) | 1,272 | |||||||||
8,635 | |||||||||||
Computers & Peripherals — 0.6% | |||||||||||
4 | Apple, Inc. (a) | 974 | |||||||||
97 | EMC Corp. (a) | 1,769 | |||||||||
26 | NetApp, Inc. (a) | 970 | |||||||||
3,713 | |||||||||||
Electronic Equipment, Instruments & Components — 1.2% | |||||||||||
48 | Amphenol Corp., Class A | 1,870 | |||||||||
29 | Dolby Laboratories, Inc., Class A (a) | 1,840 | |||||||||
57 | FLIR Systems, Inc. (a) | 1,671 | |||||||||
46 | Plexus Corp. (a) | 1,218 | |||||||||
6,599 | |||||||||||
Internet Software & Services — 1.9% | |||||||||||
89 | eBay, Inc. (a) | 1,741 | |||||||||
3 | Google, Inc., Class A (a) | 1,355 | |||||||||
55 | j2 Global Communications, Inc. (a) | 1,210 | |||||||||
145 | Monster Worldwide, Inc. (a) | 1,686 | |||||||||
97 | Rackspace Hosting, Inc. (a) | 1,774 | |||||||||
27 | VistaPrint N.V., (Bermuda) (a) | 1,283 | |||||||||
119 | Yahoo!, Inc. (a) | 1,641 | |||||||||
10,690 | |||||||||||
IT Services — 2.4% | |||||||||||
89 | Acxiom Corp. (a) | 1,302 | |||||||||
19 | Automatic Data Processing, Inc. | 759 | |||||||||
35 | Cognizant Technology Solutions Corp., Class A (a) | 1,771 | |||||||||
68 | Fidelity National Information Services, Inc. | 1,811 | |||||||||
76 | Gartner, Inc. (a) | 1,760 | |||||||||
8 | International Business Machines Corp. | 1,004 | |||||||||
70 | Paychex, Inc. | 1,822 | |||||||||
179 | Sapient Corp. | 1,818 | |||||||||
3 | Visa, Inc., Class A | 191 | |||||||||
43 | Wright Express Corp. (a) | 1,274 | |||||||||
13,512 | |||||||||||
Semiconductors & Semiconductor Equipment — 3.2% | |||||||||||
41 | Altera Corp. | 1,005 | |||||||||
367 | Atmel Corp. (a) | 1,761 | |||||||||
30 | Cavium Networks, Inc. (a) | 790 | |||||||||
30 | Cree, Inc. (a) | 1,774 | |||||||||
38 | Hittite Microwave Corp. (a) | 1,717 | |||||||||
67 | International Rectifier Corp. (a) | 1,239 | |||||||||
57 | Linear Technology Corp. | 1,578 | |||||||||
174 | MEMC Electronic Materials, Inc. (a) | 1,724 | |||||||||
23 | Microchip Technology, Inc. | 630 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Short Positions — Continued | |||||||||||
Semiconductors & Semiconductor Equipment — Continued | |||||||||||
79 | NetLogic Microsystems, Inc. (a) | 2,146 | |||||||||
140 | PMC-Sierra, Inc. (a) | 1,056 | |||||||||
29 | Semtech Corp. (a) | 477 | |||||||||
24 | Silicon Laboratories, Inc. (a) | 967 | |||||||||
101 | Skyworks Solutions, Inc. (a) | 1,691 | |||||||||
18,555 | |||||||||||
Software — 3.8% | |||||||||||
35 | Adobe Systems, Inc. (a) | 915 | |||||||||
21 | Blackboard, Inc. (a) | 798 | |||||||||
42 | Citrix Systems, Inc. (a) | 1,779 | |||||||||
42 | Concur Technologies, Inc. (a) | 1,787 | |||||||||
20 | FactSet Research Systems, Inc. | 1,343 | |||||||||
77 | Informatica Corp. (a) | 1,832 | |||||||||
57 | JDA Software Group, Inc. (a) | 1,247 | |||||||||
86 | Nuance Communications, Inc. (a) | 1,289 | |||||||||
80 | Parametric Technology Corp. (a) | 1,254 | |||||||||
49 | Red Hat, Inc. (a) | 1,431 | |||||||||
49 | Rovi Corp. (a) | 1,848 | |||||||||
75 | SolarWinds, Inc. (a) | 1,202 | |||||||||
64 | SuccessFactors, Inc. (a) | 1,338 | |||||||||
52 | Taleo Corp., Class A (a) | 1,263 | |||||||||
251 | TiVo, Inc. (a) | 1,855 | |||||||||
15 | VMware, Inc., Class A (a) | 950 | |||||||||
22,131 | |||||||||||
Total Information Technology | 83,835 | ||||||||||
Materials — 5.6% | |||||||||||
Chemicals — 2.0% | |||||||||||
11 | Air Products & Chemicals, Inc. | 705 | |||||||||
20 | Dow Chemical Co. (The) | 484 | |||||||||
38 | Ecolab, Inc. | 1,716 | |||||||||
27 | FMC Corp. | 1,564 | |||||||||
69 | Intrepid Potash, Inc. (a) | 1,341 | |||||||||
32 | Monsanto Co. | 1,471 | |||||||||
33 | Mosaic Co. (The) | 1,285 | |||||||||
23 | Praxair, Inc. | 1,755 | |||||||||
55 | Sensient Technologies Corp. | 1,418 | |||||||||
11,739 | |||||||||||
Construction Materials — 1.2% | |||||||||||
65 | Eagle Materials, Inc. | 1,694 | |||||||||
26 | Martin Marietta Materials, Inc. | 2,163 | |||||||||
46 | Texas Industries, Inc. | 1,364 | |||||||||
39 | Vulcan Materials Co. | 1,720 | |||||||||
6,941 | |||||||||||
Containers & Packaging — 1.0% | |||||||||||
42 | Bemis Co., Inc. | 1,134 | |||||||||
8 | Greif, Inc., Class A | 420 | |||||||||
46 | Packaging Corp. of America | 1,019 | |||||||||
69 | Pactiv Corp. (a) | 1,912 | |||||||||
60 | Temple-Inland, Inc. | 1,230 | |||||||||
5,715 | |||||||||||
Metals & Mining — 0.9% | |||||||||||
31 | Allegheny Technologies, Inc. | 1,359 | |||||||||
46 | Allied Nevada Gold Corp. (a) | 908 | |||||||||
14 | Compass Minerals International, Inc. | 959 | |||||||||
32 | Royal Gold, Inc. | 1,534 | |||||||||
12 | United States Steel Corp. | 461 | |||||||||
5,221 | |||||||||||
Paper & Forest Products — 0.5% | |||||||||||
21 | Schweitzer-Mauduit International, Inc. | 1,035 | |||||||||
53 | Weyerhaeuser Co. | 1,858 | |||||||||
2,893 | |||||||||||
Total Materials | 32,509 | ||||||||||
Telecommunication Services — 1.4% | |||||||||||
Diversified Telecommunication Services — 0.6% | |||||||||||
30 | AboveNet, Inc. (a) | 1,419 | |||||||||
55 | CenturyLink, Inc. | 1,825 | |||||||||
3,244 | |||||||||||
Wireless Telecommunication Services — 0.8% | |||||||||||
55 | American Tower Corp., Class A (a) | 2,447 | |||||||||
49 | Leap Wireless International, Inc. (a) | 631 | |||||||||
13 | SBA Communications Corp., Class A (a) | 458 | |||||||||
43 | Telephone & Data Systems, Inc. | 1,296 | |||||||||
4,832 | |||||||||||
Total Telecommunication Services | 8,076 | ||||||||||
Utilities — 5.0% | |||||||||||
Electric Utilities — 1.5% | |||||||||||
32 | American Electric Power Co., Inc. | 1,041 | |||||||||
39 | Cleco Corp. | 1,037 | |||||||||
34 | Hawaiian Electric Industries, Inc. | 785 | |||||||||
21 | NextEra Energy, Inc. | 1,023 | |||||||||
88 | Northeast Utilities | 2,250 | |||||||||
98 | Pepco Holdings, Inc. | 1,541 |
JPMorgan Multi-Cap Market Neutral Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Short Positions — Continued | |||||||||||
Electric Utilities — Continued | |||||||||||
31 | Southern Co. | 1,033 | |||||||||
8,710 | |||||||||||
Gas Utilities — 0.9% | |||||||||||
59 | EQT Corp. | 2,138 | |||||||||
23 | National Fuel Gas Co. | 1,059 | |||||||||
14 | New Jersey Resources Corp. | 477 | |||||||||
37 | South Jersey Industries, Inc. | 1,581 | |||||||||
5,255 | |||||||||||
Independent Power Producers & Energy Traders — 0.7% | |||||||||||
78 | Calpine Corp. (a) | 987 | |||||||||
52 | Ormat Technologies, Inc. | 1,467 | |||||||||
374 | RRI Energy, Inc. (a) | 1,416 | |||||||||
3,870 | |||||||||||
Multi-Utilities — 1.8% | |||||||||||
50 | Alliant Energy Corp. | 1,600 | |||||||||
38 | Consolidated Edison, Inc. | 1,635 | |||||||||
47 | Dominion Resources, Inc. | 1,826 | |||||||||
49 | NSTAR | 1,715 | |||||||||
4 | Sempra Energy | 177 | |||||||||
62 | Vectren Corp. | 1,466 | |||||||||
38 | Wisconsin Energy Corp. | 1,935 | |||||||||
10,354 | |||||||||||
Water Utilities — 0.1% | |||||||||||
43 | Aqua America, Inc. | 754 | |||||||||
Total Utilities | 28,943 | ||||||||||
Total Common Stocks (Cost $550,498) | 491,931 | ||||||||||
NUMBER OF RIGHTS | | | |||||||||
Right — 0.0% (g) | |||||||||||
Health Care — 0.0% (g) | |||||||||||
1 | Fresenius Kabi Pharmaceuticals Holding, Inc., (Germany), expiring 06/30/11 (a) (Cost $—) | — | (h) | ||||||||
Total Short Positions (Proceeds $550,498) | $ | 491,931 |
JPMorgan Value Advantage Fund |
AS OF JUNE 30, 2010
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — 95.5% | |||||||||||
Consumer Discretionary — 14.1% | |||||||||||
Distributors — 1.2% | |||||||||||
146 | Genuine Parts Co. | 5,760 | |||||||||
Hotels, Restaurants & Leisure — 0.5% | |||||||||||
221 | Monarch Casino & Resort, Inc. (a) | 2,243 | |||||||||
Household Durables — 0.9% | |||||||||||
115 | Fortune Brands, Inc. | 4,509 | |||||||||
Internet & Catalog Retail — 1.0% | |||||||||||
256 | Expedia, Inc. | 4,815 | |||||||||
Media — 3.7% | |||||||||||
239 | AH Belo Corp., Class A (a) | 1,585 | |||||||||
245 | Belo Corp., Class A (a) | 1,394 | |||||||||
66 | Cablevision Systems Corp., Class A | 1,578 | |||||||||
198 | Clear Channel Outdoor Holdings, Inc., Class A (a) | 1,722 | |||||||||
170 | Entercom Communications Corp., Class A (a) | 1,498 | |||||||||
425 | Gannett Co., Inc. | 5,719 | |||||||||
200 | LIN TV Corp., Class A (a) | 1,082 | |||||||||
9 | Washington Post Co. (The), Class B | 3,612 | |||||||||
18,190 | |||||||||||
Multiline Retail — 1.1% | |||||||||||
82 | Sears Holdings Corp. (a) | 5,288 | |||||||||
Specialty Retail — 5.7% | |||||||||||
43 | AutoZone, Inc. (a) | 8,212 | |||||||||
64 | Bed Bath & Beyond, Inc. (a) | 2,373 | |||||||||
534 | Gap, Inc. (The) | 10,388 | |||||||||
144 | Home Depot, Inc. | 4,039 | |||||||||
69 | TJX Cos., Inc. | 2,878 | |||||||||
27,890 | |||||||||||
Total Consumer Discretionary | 68,695 | ||||||||||
Consumer Staples — 6.0% | |||||||||||
Beverages — 0.9% | |||||||||||
66 | Diageo plc, (United Kingdom), ADR | 4,147 | |||||||||
Food & Staples Retailing — 2.1% | |||||||||||
203 | Walgreen Co. | 5,420 | |||||||||
103 | Wal-Mart Stores, Inc. | 4,942 | |||||||||
10,362 | |||||||||||
Food Products — 2.4% | |||||||||||
173 | JM Smucker Co. (The) | 10,424 | |||||||||
38 | McCormick & Co., Inc. (Non-Voting) | 1,446 | |||||||||
11,870 | |||||||||||
Tobacco — 0.6% | |||||||||||
149 | Altria Group, Inc. | 2,990 | |||||||||
Total Consumer Staples | 29,369 | ||||||||||
Energy — 16.1% | |||||||||||
Energy Equipment & Services — 1.1% | |||||||||||
183 | RPC, Inc. | 2,498 | |||||||||
39 | SEACOR Holdings, Inc. (a) | 2,770 | |||||||||
5,268 | |||||||||||
Oil, Gas & Consumable Fuels — 15.0% | |||||||||||
270 | Devon Energy Corp. | 16,448 | |||||||||
270 | El Paso Corp. | 2,999 | |||||||||
160 | Energy Transfer Equity LP | 5,413 | |||||||||
161 | Enterprise GP Holdings LP | 7,641 | |||||||||
208 | Exxon Mobil Corp. | 11,871 | |||||||||
63 | Kinder Morgan Management LLC (a) | 3,578 | |||||||||
222 | NuStar GP Holdings LLC | 6,816 | |||||||||
382 | Teekay Corp., (Canada) | 9,986 | |||||||||
455 | Williams Cos., Inc. (The) | 8,325 | |||||||||
73,077 | |||||||||||
Total Energy | 78,345 | ||||||||||
Financials — 33.5% | |||||||||||
Capital Markets — 2.9% | |||||||||||
101 | Ameriprise Financial, Inc. | 3,660 | |||||||||
358 | Charles Schwab Corp. (The) | 5,072 | |||||||||
190 | W.P. Carey & Co. LLC | 5,252 | |||||||||
13,984 | |||||||||||
Commercial Banks — 6.4% | |||||||||||
40 | BB&T Corp. | 1,052 | |||||||||
28 | M&T Bank Corp. | 2,353 | |||||||||
120 | SunTrust Banks, Inc. | 2,791 | |||||||||
216 | U.S. Bancorp | 4,828 | |||||||||
229 | United Community Banks, Inc. (a) | 903 | |||||||||
700 | Wells Fargo & Co. | 17,920 | |||||||||
125 | Wilmington Trust Corp. | 1,383 | |||||||||
31,230 | |||||||||||
Consumer Finance — 1.1% | |||||||||||
132 | Capital One Financial Corp. | 5,320 | |||||||||
Diversified Financial Services — 1.8% | |||||||||||
374 | Bank of America Corp. | 5,372 | |||||||||
908 | Citigroup, Inc. (a) | 3,415 | |||||||||
8,787 | |||||||||||
Insurance — 14.8% | |||||||||||
91 | AON Corp. | 3,374 | |||||||||
100 | Assurant, Inc. | 3,460 | |||||||||
— | (h) | Berkshire Hathaway, Inc., Class A (a) | 4,560 | ||||||||
207 | Cincinnati Financial Corp. | 5,365 | |||||||||
145 | Genworth Financial, Inc., Class A (a) | 1,895 |
JPMorgan Value Advantage Fund |
AS OF JUNE 30, 2010 (continued)
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Insurance — Continued | |||||||||||
570 | Loews Corp. | 18,987 | |||||||||
153 | MetLife, Inc. | 5,770 | |||||||||
571 | Old Republic International Corp. | 6,921 | |||||||||
177 | OneBeacon Insurance Group Ltd., Class A | 2,533 | |||||||||
101 | ProAssurance Corp. (a) | 5,750 | |||||||||
60 | Symetra Financial Corp. | 720 | |||||||||
154 | Transatlantic Holdings, Inc. | 7,386 | |||||||||
199 | W.R. Berkley Corp. | 5,260 | |||||||||
71,981 | |||||||||||
Real Estate Investment Trusts (REITs) — 5.1% | |||||||||||
204 | Agree Realty Corp. | 4,760 | |||||||||
271 | Annaly Capital Management, Inc. | 4,648 | |||||||||
385 | Cousins Properties, Inc. | 2,597 | |||||||||
155 | Excel Trust, Inc. (a) | 1,855 | |||||||||
163 | Getty Realty Corp. | 3,653 | |||||||||
115 | National Health Investors, Inc. | 4,451 | |||||||||
82 | Regency Centers Corp. | 2,821 | |||||||||
24,785 | |||||||||||
Real Estate Management & Development — 1.4% | |||||||||||
226 | Brookfield Asset Management, Inc., (Canada), Class A | 5,114 | |||||||||
105 | Brookfield Properties Corp. | 1,467 | |||||||||
6,581 | |||||||||||
Total Financials | 162,668 | ||||||||||
Health Care — 10.2% | |||||||||||
Health Care Equipment & Supplies — 1.4% | |||||||||||
98 | Becton, Dickinson & Co. | 6,627 | |||||||||
Health Care Providers & Services — 3.9% | |||||||||||
229 | AmerisourceBergen Corp. | 7,265 | |||||||||
42 | Humana, Inc. (a) | 1,895 | |||||||||
122 | Lincare Holdings, Inc. (a) | 3,974 | |||||||||
177 | National Healthcare Corp. | 6,093 | |||||||||
19,227 | |||||||||||
Pharmaceuticals — 4.9% | |||||||||||
172 | Bristol-Myers Squibb Co. | 4,299 | |||||||||
85 | Johnson & Johnson | 5,044 | |||||||||
288 | Merck & Co., Inc. | 10,082 | |||||||||
301 | Pfizer, Inc. | 4,294 | |||||||||
23,719 | |||||||||||
Total Health Care | 49,573 | ||||||||||
Industrials — 2.3% | |||||||||||
Electrical Equipment — 0.8% | |||||||||||
108 | Baldor Electric Co. | 3,886 | |||||||||
Industrial Conglomerates — 1.0% | |||||||||||
134 | Carlisle Cos., Inc. | 4,845 | |||||||||
Machinery — 0.3% | |||||||||||
41 | Oshkosh Corp. (a) | 1,290 | |||||||||
Trading Companies & Distributors — 0.2% | |||||||||||
46 | GATX Corp. | 1,216 | |||||||||
Total Industrials | 11,237 | ||||||||||
Information Technology — 2.6% | |||||||||||
Communications Equipment — 0.5% | |||||||||||
70 | QUALCOMM, Inc. | 2,299 | |||||||||
Electronic Equipment, Instruments & Components — 0.6% | |||||||||||
123 | Tyco Electronics Ltd., (Switzerland) | 3,122 | |||||||||
Software — 1.5% | |||||||||||
205 | Microsoft Corp. | 4,717 | |||||||||
115 | Synopsys, Inc. (a) | 2,400 | |||||||||
7,117 | |||||||||||
Total Information Technology | 12,538 | ||||||||||
Materials — 1.6% | |||||||||||
Chemicals — 1.0% | |||||||||||
128 | Albemarle Corp. | 5,099 | |||||||||
Containers & Packaging — 0.6% | |||||||||||
56 | Rock-Tenn Co., Class A | 2,776 | |||||||||
Total Materials | 7,875 | ||||||||||
Telecommunication Services — 3.9% | |||||||||||
Diversified Telecommunication Services — 2.8% | |||||||||||
147 | Alaska Communications Systems Group, Inc. | 1,247 | |||||||||
399 | AT&T, Inc. | 9,657 | |||||||||
81 | CenturyLink, Inc. | 2,685 | |||||||||
13,589 | |||||||||||
Wireless Telecommunication Services — 1.1% | |||||||||||
199 | Telephone & Data Systems, Inc. | 5,281 | |||||||||
Total Telecommunication Services | 18,870 | ||||||||||
Utilities — 5.2% | |||||||||||
Electric Utilities — 1.7% | |||||||||||
92 | American Electric Power Co., Inc. | 2,959 | |||||||||
153 | Southern Co. | 5,095 | |||||||||
8,054 | |||||||||||
Gas Utilities — 2.6% | |||||||||||
83 | Energen Corp. | 3,666 | |||||||||
210 | Oneok, Inc. | 9,082 | |||||||||
12,748 |
SHARES | | SECURITY DESCRIPTION | | VALUE($) | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Common Stocks — Continued | |||||||||||
Multi-Utilities — 0.9% | |||||||||||
65 | PG&E Corp. | 2,659 | |||||||||
37 | Sempra Energy | 1,727 | |||||||||
4,386 | |||||||||||
Total Utilities | 25,188 | ||||||||||
Total Common Stocks (Cost $421,658) | 464,358 | ||||||||||
Investment Company — 1.2% | |||||||||||
463 | Cohen & Steers Select Utility Fund, Inc. (Cost $7,023) | 5,855 | |||||||||
Short-Term Investment — 3.8% | |||||||||||
Investment Company — 3.8% | |||||||||||
18,267 | JPMorgan Prime Money Market Fund, Institutional Class Shares, 0.120% (b) (l) (m) (Cost $18,267) | 18,267 | |||||||||
Total Investments — 100.5% (Cost $446,948) | 488,480 | ||||||||||
Liabilities in Excess of Other Assets — (0.5)% | (2,494 | ) | |||||||||
NET ASSETS — 100.0% | $ | 485,986 |
JPMorgan Mid Cap/Multi-Cap Funds |
AS OF JUNE 30, 2010
ADR— | American Depositary Receipt |
(a)— | Non-income producing security. |
(b)— | Investment in affiliate. Money market fund registered under the Investment Company Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc. |
(c)— | Security, or a portion of the security, has been delivered to a counterparty as part of a security lending transaction. |
(g)— | Amount rounds to less than 0.1%. |
(h)— | Amount rounds to less than one thousand (shares or dollars). |
(j)— | All or a portion of these securities are segregated for short sales. |
(l)— | The rate shown is the current yield as of June 30, 2010. |
(m)— | All or a portion of this security is reserved and/or pledged with the custodian for current or potential holdings of futures, swaps, options, TBAs, when-issued securities, delayed delivery securities, reverse repurchase agreements, and forward foreign currency contracts. |
AS OF JUNE 30, 2010
| Growth Advantage Fund | | Mid Cap Equity Fund | | Mid Cap Growth Fund | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | |||||||||||||||
Investments in non-affiliates, at value | $ | 798,909 | $ | 439,647 | $ | 1,266,248 | |||||||||
Investments in affiliates, at value | 171,482 | 97,174 | 56,191 | ||||||||||||
Total investment securities, at value | 970,391 | 536,821 | 1,322,439 | ||||||||||||
Receivables: | |||||||||||||||
Investment securities sold | 5,104 | 10,310 | 17,912 | ||||||||||||
Fund shares sold | 4,595 | 2,493 | 2,111 | ||||||||||||
Interest and dividends | 534 | 457 | 593 | ||||||||||||
Securities lending income | 17 | 7 | 21 | ||||||||||||
Total Assets | 980,641 | 550,088 | 1,343,076 | ||||||||||||
LIABILITIES: | |||||||||||||||
Payables: | |||||||||||||||
Due to affiliate (See Note 2.C.) | — | — | 1,886 | ||||||||||||
Due to custodian | 2 | — | — | ||||||||||||
Dividends | — | 485 | — | ||||||||||||
Investment securities purchased | 1,455 | 549 | 2,341 | ||||||||||||
Collateral for securities lending program | 170,889 | 83,284 | 44,629 | ||||||||||||
Fund shares redeemed | 8,243 | 354 | 1,865 | ||||||||||||
Accrued liabilities: | |||||||||||||||
Investment advisory fees | 465 | 255 | 737 | ||||||||||||
Administration fees | 67 | 20 | 106 | ||||||||||||
Shareholder servicing fees | 167 | — | (a) | 121 | |||||||||||
Distribution fees | 33 | — | (a) | 153 | |||||||||||
Custodian and accounting fees | 25 | 25 | 45 | ||||||||||||
Trustees’ and Chief Compliance Officer’s fees | 7 | 6 | 25 | ||||||||||||
Other | 163 | 173 | 926 | ||||||||||||
Total Liabilities | 181,516 | 85,151 | 52,834 | ||||||||||||
Net Assets | $ | 799,125 | $ | 464,937 | $ | 1,290,242 |
| Growth Advantage Fund | | Mid Cap Equity Fund | | Mid Cap Growth Fund | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NET ASSETS: | ||||||||||||||
Paid in capital | $ | 872,762 | $ | 483,419 | $ | 1,385,268 | ||||||||
Accumulated net investment (loss) (distributions in excess of net investment income) | (13 | ) | (190 | ) | (82 | ) | ||||||||
Accumulated net realized gains (losses) | (135,274 | ) | (49,563 | ) | (247,439 | ) | ||||||||
Net unrealized appreciation (depreciation) | 61,650 | 31,271 | 152,495 | |||||||||||
Total Net Assets | $ | 799,125 | $ | 464,937 | $ | 1,290,242 | ||||||||
Net ASSETS: | ||||||||||||||
Class A | $ | 101,814 | $ | 1,394 | $ | 560,054 | ||||||||
Class B | 3,070 | — | 20,893 | |||||||||||
Class C | 12,811 | 65 | 23,389 | |||||||||||
Class R2 | — | — | 63 | �� | ||||||||||
Class R5 | 76,767 | — | — | |||||||||||
Select Class | 604,663 | 463,478 | 685,843 | |||||||||||
Total | $ | 799,125 | $ | 464,937 | $ | 1,290,242 | ||||||||
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | ||||||||||||||
Class A | 15,057 | 61 | 34,256 | |||||||||||
Class B | 487 | — | 1,620 | |||||||||||
Class C | 2,030 | 3 | 1,588 | |||||||||||
Class R2 | — | — | 4 | |||||||||||
Class R5 | 11,199 | — | — | |||||||||||
Select Class | 88,477 | 20,180 | 39,267 | |||||||||||
Net Asset Value: | ||||||||||||||
Class A — Redemption price per share | $ | 6.76 | $ | 22.95 | $ | 16.35 | ||||||||
Class B — Offering price per share(b) | 6.31 | — | 12.90 | |||||||||||
Class C — Offering price per share(b) | 6.31 | 22.93 | 14.73 | |||||||||||
Class R2 — Offering and redemption price per share | — | — | 17.38 | |||||||||||
Class R5 — Offering and redemption price per share | 6.86 | — | — | |||||||||||
Select Class — Offering and redemption price per share | 6.83 | 22.97 | 17.47 | |||||||||||
Class A maximum sales charge | 5.25 | % | 5.25 | % | 5.25 | % | ||||||||
Class A maximum public offering price per share [net asset value per share/(100% – maximum sales charge)] | $ | 7.13 | $ | 24.22 | $ | 17.26 | ||||||||
Cost of investments in non-affiliates | $ | 737,259 | $ | 408,376 | $ | 1,113,753 | ||||||||
Cost of investments in affiliates | 171,482 | 97,174 | 56,191 | |||||||||||
Value of securities on loan | 165,050 | 80,741 | 42,802 | |||||||||||
(a) | Amount rounds to less than $1,000. |
(b) | Redemption price for Class B and Class C Shares varies based upon length of time the shares are held. |
AS OF JUNE 30, 2010 (continued)
| Mid Cap Value Fund | | Multi-Cap Market Neutral Fund | | Value Advantage Fund | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | |||||||||||||||
Investments in non-affiliates, at value | $ | 5,005,289 | $ | 490,723 | $ | 470,213 | |||||||||
Investments in affiliates, at value | 247,830 | 86,021 | 18,267 | ||||||||||||
Total investment securities, at value | 5,253,119 | 576,744 | 488,480 | ||||||||||||
Cash | 1 | 4 | — | ||||||||||||
Deposits at broker for securities sold short | — | 495,259 | — | ||||||||||||
Receivables: | |||||||||||||||
Investment securities sold | — | 119,337 | 515 | ||||||||||||
Fund shares sold | 7,502 | 668 | 1,858 | ||||||||||||
Interest and dividends | 8,002 | 382 | 1,217 | ||||||||||||
Securities lending income | 79 | — | — | ||||||||||||
Total Assets | 5,268,703 | 1,192,394 | 492,070 | ||||||||||||
LIABILITIES: | |||||||||||||||
Payables: | |||||||||||||||
Securities sold short, at value | — | 491,931 | — | ||||||||||||
Dividends for securities sold short | — | 345 | — | ||||||||||||
Interest expense for securities sold short | — | 84 | — | ||||||||||||
Investment securities purchased | 63,727 | 122,512 | 4,785 | ||||||||||||
Collateral for securities lending program | 85,595 | — | — | ||||||||||||
Fund shares redeemed | 25,296 | 1,196 | 645 | ||||||||||||
Accrued liabilities: | |||||||||||||||
Investment advisory fees | 2,429 | 514 | 260 | ||||||||||||
Administration fees | 42 | 36 | 1 | ||||||||||||
Shareholder servicing fees | 667 | 10 | 70 | ||||||||||||
Distribution fees | 637 | 50 | 102 | ||||||||||||
Custodian and accounting fees | 129 | 29 | 16 | ||||||||||||
Trustees’ and Chief Compliance Officer’s fees | 15 | 7 | 2 | ||||||||||||
Other | 1,436 | 133 | 203 | ||||||||||||
Total Liabilities | 179,973 | 616,847 | 6,084 | ||||||||||||
Net Assets | $ | 5,088,730 | $ | 575,547 | $ | 485,986 |
| Mid Cap Value Fund | | Multi-Cap Market Neutral Fund | | Value Advantage Fund | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NET ASSETS: | ||||||||||||||
Paid in capital | $ | 5,427,848 | $ | 632,354 | $ | 532,615 | ||||||||
Accumulated undistributed net investment income (net investment loss) | 59,967 | (37 | ) | 2,634 | ||||||||||
Accumulated net realized gains (losses) | (654,720 | ) | (131,371 | ) | (90,795 | ) | ||||||||
Net unrealized appreciation (depreciation) | 255,635 | 74,601 | 41,532 | |||||||||||
Total Net Assets | $ | 5,088,730 | $ | 575,547 | $ | 485,986 | ||||||||
Net Assets: | ||||||||||||||
Class A | $ | 1,705,572 | $ | 94,549 | $ | 150,081 | ||||||||
Class B | 96,966 | 7,849 | — | |||||||||||
Class C | 309,513 | 39,610 | 108,165 | |||||||||||
Class R2 | 1,441 | — | — | |||||||||||
Institutional Class | 1,913,930 | — | 156,531 | |||||||||||
Select Class | 1,061,308 | 433,539 | 71,209 | |||||||||||
Total | $ | 5,088,730 | $ | 575,547 | $ | 485,986 | ||||||||
Outstanding units of beneficial interest (shares) | ||||||||||||||
($0.0001 par value; unlimited number of shares authorized): | ||||||||||||||
Class A | 90,216 | 9,738 | 9,860 | |||||||||||
Class B | 5,275 | 831 | — | |||||||||||
Class C | 16,788 | 4,189 | 7,128 | |||||||||||
Class R2 | 77 | — | — | |||||||||||
Institutional Class | 99,565 | — | 10,271 | |||||||||||
Select Class | 55,654 | 44,292 | 4,664 | |||||||||||
Net Asset Value: | ||||||||||||||
Class A — Redemption price per share | $ | 18.91 | $ | 9.71 | $ | 15.22 | ||||||||
Class B — Offering price per share(a) | 18.38 | 9.44 | — | |||||||||||
Class C — Offering price per share(a) | 18.44 | 9.46 | 15.17 | |||||||||||
Class R2 — Offering and redemption price per share | 18.63 | — | — | |||||||||||
Institutional Class — Offering and redemption price per share | 19.22 | — | 15.24 | |||||||||||
Select Class — Offering and redemption price per share | 19.07 | 9.79 | 15.27 | |||||||||||
Class A maximum sales charge | 5.25 | % | 5.25 | % | 5.25 | % | ||||||||
Class A maximum public offering price per share [net asset value per share/(100% – maximum sales charge)] | $ | 19.96 | $ | 10.25 | $ | 16.06 | ||||||||
Cost of investments in non-affiliates | $ | 4,749,654 | $ | 474,689 | $ | 428,681 | ||||||||
Cost of investments in affiliates | 247,830 | 86,021 | 18,267 | |||||||||||
Value of securities on loan | 83,148 | — | — | |||||||||||
Proceeds from securities sold short | — | 550,498 | — |
(a) | Redemption price for Class B and Class C Shares varies based upon length of time the shares are held. |
FOR THE YEAR ENDED JUNE 30, 2010
| Growth Advantage Fund | | Mid Cap Equity Fund | | Mid Cap Growth Fund | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | |||||||||||||||
Dividend income from non-affiliates | $ | 6,662 | $ | 4,925 | $ | 9,108 | |||||||||
Interest income from affiliates | — | (a) | — | (a) | — | (a) | |||||||||
Dividend income from affiliates | 19 | 16 | 24 | ||||||||||||
Income from securities lending (net) | 382 | 109 | 507 | ||||||||||||
Total investment income | 7,063 | 5,050 | 9,639 | ||||||||||||
EXPENSES: | |||||||||||||||
Investment advisory fees | 5,078 | 2,266 | 8,899 | ||||||||||||
Administration fees | 744 | 330 | 1,307 | ||||||||||||
Distribution fees: | |||||||||||||||
Class A | 249 | 1 | 1,509 | ||||||||||||
Class B | 28 | — | 214 | ||||||||||||
Class C | 93 | — | (a) | 205 | |||||||||||
Class R2 | — | — | — | (a) | |||||||||||
Shareholder servicing fees: | |||||||||||||||
Class A | 249 | 1 | 1,509 | ||||||||||||
Class B | 9 | — | 71 | ||||||||||||
Class C | 31 | — | (a) | 69 | |||||||||||
Class R2 | — | — | — | (a) | |||||||||||
Class R5 | 33 | — | — | ||||||||||||
Select Class | 1,500 | 871 | 1,774 | ||||||||||||
Custodian and accounting fees | 61 | 51 | 93 | ||||||||||||
Interest expense to affiliates | — | — | — | (a) | |||||||||||
Professional fees | 60 | 54 | 56 | ||||||||||||
Trustees’ and Chief Compliance Officer’s fees | 10 | 4 | 15 | ||||||||||||
Printing and mailing costs | 113 | 38 | 408 | ||||||||||||
Registration and filing fees | 66 | 91 | 302 | ||||||||||||
Transfer agent fees | 161 | 365 | 1,505 | ||||||||||||
Other | 62 | 12 | 7 | ||||||||||||
Total expenses | 8,547 | 4,084 | 17,943 | ||||||||||||
Less amounts waived | (25 | ) | (967 | ) | (2,892 | ) | |||||||||
Less earnings credits | — | (a) | — | (a) | — | (a) | |||||||||
Net expenses | 8,522 | 3,117 | 15,051 | ||||||||||||
Net investment income (loss) | (1,459 | ) | 1,933 | (5,412 | ) | ||||||||||
REALIZED/UNREALIZED GAINS (LOSSES): | |||||||||||||||
Net realized gain (loss) on transactions from investments in non-affiliates | 52,894 | 9,383 | 107,222 | ||||||||||||
Change in net unrealized appreciation (depreciation) of investments in non-affiliates | 38,819 | 26,548 | 131,041 | ||||||||||||
Net realized/unrealized gains (losses) | 91,713 | 35,931 | 238,263 | ||||||||||||
Change in net assets resulting from operations | $ | 90,254 | $ | 37,864 | $ | 232,851 |
(a) | Amount rounds to less than $1,000. |
| Mid Cap Value Fund | | Multi-Cap Market Neutral Fund | | Value Advantage Fund | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | |||||||||||||||
Interest income from non-affiliates | $ | — | $ | 76 | $ | — | |||||||||
Dividend income from non-affiliates | 112,660 | 8,009 | 12,232 | ||||||||||||
Interest income from affiliates | — | (a) | 6 | — | |||||||||||
Dividend income from affiliates | 209 | 71 | 21 | ||||||||||||
Income from securities lending (net) | 3,803 | — | — | ||||||||||||
Total investment income | 116,672 | 8,162 | 12,253 | ||||||||||||
EXPENSES: | |||||||||||||||
Investment advisory fees | 33,390 | 7,844 | 2,880 | ||||||||||||
Administration fees | 4,901 | 601 | 422 | ||||||||||||
Distribution fees: | |||||||||||||||
Class A | 4,558 | 212 | 372 | ||||||||||||
Class B | 855 | 77 | — | ||||||||||||
Class C | 2,503 | 384 | 848 | ||||||||||||
Class R2 | 4 | — | — | ||||||||||||
Shareholder servicing fees: | |||||||||||||||
Class A | 4,558 | 212 | 372 | ||||||||||||
Class B | 285 | 26 | — | ||||||||||||
Class C | 834 | 128 | 283 | ||||||||||||
Class R2 | 2 | — | — | ||||||||||||
Institutional Class | 1,835 | — | 114 | ||||||||||||
Select Class | 2,575 | 1,203 | 167 | ||||||||||||
Dividend expense on securities sold short | — | 7,563 | — | ||||||||||||
Interest expense on securities sold short | — | 1,571 | — | ||||||||||||
Custodian and accounting fees | 260 | 82 | 34 | ||||||||||||
Professional fees | 51 | 54 | 48 | ||||||||||||
Trustees’ and Chief Compliance Officer’s fees | 54 | 7 | 4 | ||||||||||||
Printing and mailing costs | 1,137 | 89 | 108 | ||||||||||||
Registration and filing fees | 297 | 52 | 61 | ||||||||||||
Transfer agent fees | 5,652 | 291 | 343 | ||||||||||||
Other | 295 | 11 | 7 | ||||||||||||
Total expenses | 64,046 | 20,407 | 6,063 | ||||||||||||
Less amounts waived | (9,877 | ) | (2,663 | ) | (726 | ) | |||||||||
Less earnings credits | — | (a) | — | (a) | — | (a) | |||||||||
Net expenses | 54,169 | 17,744 | 5,337 | ||||||||||||
Net investment income (loss) | 62,503 | (9,582 | ) | 6,916 | |||||||||||
REALIZED/UNREALIZED GAINS (LOSSES): | |||||||||||||||
Net realized gain (loss) on transactions from: | |||||||||||||||
Investments in non-affiliates | 23,325 | 150,060 | (10,567 | ) | |||||||||||
Securities sold short | — | (106,581 | ) | — | |||||||||||
Net realized gain (loss) | 23,325 | 43,479 | (10,567 | ) | |||||||||||
Change in net unrealized appreciation (depreciation) of: | |||||||||||||||
Investments in non-affiliates | 936,527 | (29,413 | ) | 96,114 | |||||||||||
Securities sold short | — | (33,879 | ) | — | |||||||||||
Change in net unrealized appreciation (depreciation) | 936,527 | (63,292 | ) | 96,114 | |||||||||||
Net realized/unrealized gains (losses) | 959,852 | (19,813 | ) | 85,547 | |||||||||||
Change in net assets resulting from operations | $ | 1,022,355 | $ | (29,395 | ) | $ | 92,463 |
(a) | Amount rounds to less than $1,000. |
FOR THE PERIODS INDICATED
Growth Advantage Fund | Mid Cap Equity Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | ||||||||||||
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | (1,459 | ) | $ | (1,219 | ) | $ | 1,933 | $ | 1,629 | |||||||||
Net realized gain (loss) | 52,894 | (150,688 | ) | 9,383 | (56,735 | ) | |||||||||||||
Change in net unrealized appreciation (depreciation) | 38,819 | 2,343 | 26,548 | (18,862 | ) | ||||||||||||||
Change in net assets resulting from operations | 90,254 | (149,564 | ) | 37,864 | (73,968 | ) | |||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Class A (b) | |||||||||||||||||||
From net investment income | — | — | (1 | ) | — | ||||||||||||||
Class C (b) | |||||||||||||||||||
From net investment income | — | — | — | (a) | — | ||||||||||||||
Select Class | |||||||||||||||||||
From net investment income | — | — | (1,929 | ) | (1,590 | ) | |||||||||||||
From net realized gains | — | — | — | (10,014 | ) | ||||||||||||||
Total distributions to shareholders | — | — | (1,930 | ) | (11,604 | ) | |||||||||||||
CAPITAL TRANSACTIONS: | |||||||||||||||||||
Change in net assets from capital transactions | 136,769 | 232,504 | 233,218 | 91,768 | |||||||||||||||
NET ASSETS: | |||||||||||||||||||
Change in net assets | 227,023 | 82,940 | 269,152 | 6,196 | |||||||||||||||
Beginning of period | 572,102 | 489,162 | 195,785 | 189,589 | |||||||||||||||
End of period | $ | 799,125 | $ | 572,102 | $ | 464,937 | $ | 195,785 | |||||||||||
Accumulated undistributed net investment (loss) (distributions in excess of net investment income) | $ | (13 | ) | $ | (8 | ) | $ | (190 | ) | $ | (29 | ) |
(a) | Amount rounds to less than $1,000. |
(b) | Commencement of offering of class of shares effective November 2, 2009 for Mid Cap Equity Fund. |
Mid Cap Growth Fund | Mid Cap Value Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | ||||||||||||
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | (5,412 | ) | $ | (2,539 | ) | $ | 62,503 | $ | 79,248 | |||||||||
Net realized gain (loss) | 107,222 | (159,090 | ) | 23,325 | (639,753 | ) | |||||||||||||
Change in net unrealized appreciation (depreciation) | 131,041 | (140,598 | ) | 936,527 | (925,619 | ) | |||||||||||||
Change in net assets resulting from operations | 232,851 | (302,227 | ) | 1,022,355 | (1,486,124 | ) | |||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Class A | |||||||||||||||||||
From net investment income | — | — | — | (34,001 | ) | ||||||||||||||
From net realized gains | — | (6,876 | ) | — | (73,550 | ) | |||||||||||||
Class B | |||||||||||||||||||
From net investment income | — | — | — | (1,402 | ) | ||||||||||||||
From net realized gains | — | (1,071 | ) | — | (4,622 | ) | |||||||||||||
Class C | |||||||||||||||||||
From net investment income | — | — | — | (4,278 | ) | ||||||||||||||
From net realized gains | — | (441 | ) | — | (14,373 | ) | |||||||||||||
Class R2 (a) | |||||||||||||||||||
From net investment income | — | — | — | (7 | ) | ||||||||||||||
From net realized gains | — | — | — | (2 | ) | ||||||||||||||
Institutional Class | |||||||||||||||||||
From net investment income | — | — | (1,669 | ) | (43,630 | ) | |||||||||||||
From net realized gains | — | — | — | (49,874 | ) | ||||||||||||||
Select Class | |||||||||||||||||||
From net investment income | — | — | (279 | ) | (19,010 | ) | |||||||||||||
From net realized gains | — | (7,330 | ) | — | (25,899 | ) | |||||||||||||
Ultra (b) | |||||||||||||||||||
From net realized gains | — | (68 | ) | — | — | ||||||||||||||
Total distributions to shareholders | — | (15,786 | ) | (1,948 | ) | (270,648 | ) | ||||||||||||
CAPITAL TRANSACTIONS: | |||||||||||||||||||
Change in net assets from capital transactions | (149,860 | ) | 500,829 | (131,054 | ) | 109,125 | |||||||||||||
NET ASSETS: | |||||||||||||||||||
Change in net assets | 82,991 | 182,816 | 889,353 | (1,647,647 | ) | ||||||||||||||
Beginning of period | 1,207,251 | 1,024,435 | 4,199,377 | 5,847,024 | |||||||||||||||
End of period | $ | 1,290,242 | $ | 1,207,251 | $ | 5,088,730 | $ | 4,199,377 | |||||||||||
Accumulated undistributed (distributions in excess of) net investment income (net investment loss) | $ | (82 | ) | $ | (407 | ) | $ | 59,967 | $ | 1,770 |
(a) | Commencement of offering class of shares effective June 19, 2009 for Mid Cap Growth Fund and November 3, 2008 for Mid Cap Value Fund. |
(b) | Ultra Shares of Mid Cap Growth Fund were liquidated on May 22, 2009. |
FOR THE PERIODS INDICATED (continued)
Multi-Cap Market Neutral Fund | Value Advantage Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | ||||||||||||
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | (9,582 | ) | $ | (4,828 | ) | $ | 6,916 | $ | 7,242 | |||||||||
Net realized gain (loss) | 43,479 | 7,535 | (10,567 | ) | (81,109 | ) | |||||||||||||
Change in net unrealized appreciation (depreciation) | (63,292 | ) | (12,728 | ) | 96,114 | (18,303 | ) | ||||||||||||
Change in net assets resulting from operations | (29,395 | ) | (10,021 | ) | 92,463 | (92,170 | ) | ||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Class A | |||||||||||||||||||
From net investment income | — | — | (1,905 | ) | (2,024 | ) | |||||||||||||
From net realized gains | — | — | — | (717 | ) | ||||||||||||||
Class C | |||||||||||||||||||
From net investment income | — | — | (889 | ) | (943 | ) | |||||||||||||
From net realized gains | — | — | — | (700 | ) | ||||||||||||||
Institutional Class | |||||||||||||||||||
From net investment income | — | — | (1,840 | ) | (319 | ) | |||||||||||||
From net realized gains | — | — | — | (84 | ) | ||||||||||||||
Select Class | |||||||||||||||||||
From net investment income | — | — | (995 | ) | (968 | ) | |||||||||||||
From net realized gains | — | — | — | (282 | ) | ||||||||||||||
Total distributions to shareholders | — | — | (5,629 | ) | (6,037 | ) | |||||||||||||
CAPITAL TRANSACTIONS: | |||||||||||||||||||
Change in net assets from capital transactions | (65,653 | ) | (437,858 | ) | 66,865 | 26,571 | |||||||||||||
NET ASSETS: | |||||||||||||||||||
Change in net assets | (95,048 | ) | (447,879 | ) | 153,699 | (71,636 | ) | ||||||||||||
Beginning of period | 670,595 | 1,118,474 | 332,287 | 403,923 | |||||||||||||||
End of period | $ | 575,547 | $ | 670,595 | $ | 485,986 | $ | 332,287 | |||||||||||
Accumulated undistributed net investment income (net investment loss) | $ | (37 | ) | $ | (36 | ) | $ | 2,634 | $ | 3,310 |
Growth Advantage Fund | Mid Cap Equity Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | ||||||||||||
CAPITAL TRANSACTIONS: | |||||||||||||||||||
Class A (b) | |||||||||||||||||||
Proceeds from shares issued | $ | 55,364 | $ | 41,995 | $ | 1,597 | $ | — | |||||||||||
Dividends and distributions reinvested | — | — | 1 | — | |||||||||||||||
Cost of shares redeemed | (36,207 | ) | (20,695 | ) | (95 | ) | — | ||||||||||||
Change in net assets from Class A capital transactions | $ | 19,157 | $ | 21,300 | $ | 1,503 | $ | — | |||||||||||
Class B | |||||||||||||||||||
Proceeds from shares issued | $ | 520 | $ | 1,247 | $ | — | $ | — | |||||||||||
Cost of shares redeemed | (1,277 | ) | (985 | ) | — | — | |||||||||||||
Change in net assets from Class B capital transactions | $ | (757 | ) | $ | 262 | $ | — | $ | — | ||||||||||
Class C (b) | |||||||||||||||||||
Proceeds from shares issued | $ | 5,617 | $ | 3,597 | $ | 66 | $ | — | |||||||||||
Dividends and distributions reinvested | — | — | — | (a) | — | ||||||||||||||
Cost of shares redeemed | (3,392 | ) | (4,724 | ) | (3 | ) | — | ||||||||||||
Change in net assets from Class C capital transactions | $ | 2,225 | $ | (1,127 | ) | $ | 63 | $ | — | ||||||||||
Class R5 (c) | |||||||||||||||||||
Proceeds from shares issued | $ | 27,290 | $ | 41,138 | $ | — | $ | — | |||||||||||
Cost of shares redeemed | (3,562 | ) | — | — | — | ||||||||||||||
Change in net assets from Class R5 capital transactions | $ | 23,728 | $ | 41,138 | $ | — | $ | — | |||||||||||
Select Class | |||||||||||||||||||
Proceeds from shares issued | $ | 324,548 | $ | 354,513 | $ | 316,115 | $ | 195,594 | |||||||||||
Dividends and distributions reinvested | — | — | 305 | 3,055 | |||||||||||||||
Cost of shares redeemed | (232,132 | ) | (183,582 | ) | (84,768 | ) | (106,881 | ) | |||||||||||
Change in net assets from Select Class capital transactions | $ | 92,416 | $ | 170,931 | $ | 231,652 | $ | 91,768 | |||||||||||
Total change in net assets from capital transactions | $ | 136,769 | $ | 232,504 | $ | 233,218 | $ | 91,768 |
FOR THE PERIODS INDICATED (continued)
Growth Advantage Fund | Mid Cap Equity Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | ||||||||||||
SHARE TRANSACTIONS: | |||||||||||||||||||
Class A (b) | |||||||||||||||||||
Issued | 7,959 | 7,358 | 65 | — | |||||||||||||||
Reinvested | — | — | — | (a) | — | ||||||||||||||
Redeemed | (5,122 | ) | (3,807 | ) | (4 | ) | — | ||||||||||||
Change in Class A Shares | 2,837 | 3,551 | 61 | — | |||||||||||||||
Class B | |||||||||||||||||||
Issued | 83 | 217 | — | — | |||||||||||||||
Redeemed | (196 | ) | (183 | ) | — | — | |||||||||||||
Change in Class B Shares | (113 | ) | 34 | — | — | ||||||||||||||
Class C (b) | |||||||||||||||||||
Issued | 868 | 660 | 3 | — | |||||||||||||||
Reinvested | — | — | — | (a) | — | ||||||||||||||
Redeemed | (524 | ) | (863 | ) | — | (a) | — | ||||||||||||
Change in Class C Shares | 344 | (203 | ) | 3 | — | ||||||||||||||
Class R5 (c) | |||||||||||||||||||
Issued | 3,874 | 7,805 | — | — | |||||||||||||||
Redeemed | (480 | ) | — | — | — | ||||||||||||||
Change in Class R5 Shares | 3,394 | 7,805 | — | — | |||||||||||||||
Select Class | |||||||||||||||||||
Issued | 46,815 | 59,900 | 13,451 | 9,225 | |||||||||||||||
Reinvested | — | — | 13 | 177 | |||||||||||||||
Redeemed | (32,808 | ) | (34,292 | ) | (3,604 | ) | (5,704 | ) | |||||||||||
Change in Select Class Shares | 14,007 | 25,608 | 9,860 | 3,698 |
(a) | Amount rounds to less than 1,000 (shares or dollars). |
(b) | Commencement of offering of class of shares effective November 2, 2009 for Mid Cap Equity Fund. |
(c) | Commencement of offering of class of shares effective January 8, 2009 for Growth Advantage Fund. |
Mid Cap Growth Fund | Mid Cap Value Fund | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | |||||||||||||||
CAPITAL TRANSACTIONS: | ||||||||||||||||||||||
Class A | ||||||||||||||||||||||
Proceeds from shares issued | $ | 103,096 | $ | 53,625 | $ | 286,766 | $ | 346,853 | ||||||||||||||
Net assets acquired in Fund reorganization (See Note 9) | — | 290,993 | — | 81,146 | ||||||||||||||||||
Dividends and distributions reinvested | — | 6,078 | — | 99,082 | ||||||||||||||||||
Cost of shares redeemed | (167,798 | ) | (86,616 | ) | (562,984 | ) | (799,095 | ) | ||||||||||||||
Change in net assets from Class A capital transactions | $ | (64,702 | ) | $ | 264,080 | $ | (276,218 | ) | $ | (272,014 | ) | |||||||||||
Class B | ||||||||||||||||||||||
Proceeds from shares issued | $ | 1,165 | $ | 1,492 | $ | 1,155 | $ | 3,688 | ||||||||||||||
Net assets acquired in Fund reorganization (See Note 9) | — | 7,214 | — | 13,609 | ||||||||||||||||||
Dividends and distributions reinvested | — | 1,014 | — | 5,159 | ||||||||||||||||||
Cost of shares redeemed | (16,165 | ) | (27,519 | ) | (37,583 | ) | (29,732 | ) | ||||||||||||||
Change in net assets from Class B capital transactions | $ | (15,000 | ) | $ | (17,799 | ) | $ | (36,428 | ) | $ | (7,276 | ) | ||||||||||
Class C | ||||||||||||||||||||||
Proceeds from shares issued | $ | 2,193 | $ | 1,163 | $ | 24,188 | $ | 29,818 | ||||||||||||||
Net assets acquired in Fund reorganization (See Note 9) | — | 12,398 | — | 7,123 | ||||||||||||||||||
Dividends and distributions reinvested | — | 347 | — | 13,808 | ||||||||||||||||||
Cost of shares redeemed | (9,337 | ) | (6,920 | ) | (83,767 | ) | (122,766 | ) | ||||||||||||||
Change in net assets from Class C capital transactions | $ | (7,144 | ) | $ | 6,988 | $ | (59,579 | ) | $ | (72,017 | ) | |||||||||||
Class R2 (b) | ||||||||||||||||||||||
Proceeds from shares issued | $ | — | (a) | $ | 30 | $ | 2,331 | $ | 270 | |||||||||||||
Net assets acquired in Fund reorganization (See Note 9) | — | 53 | — | — | ||||||||||||||||||
Dividends and distributions reinvested | — | — | — | 4 | ||||||||||||||||||
Cost of shares redeemed | (32 | ) | — | (1,209 | ) | (2 | ) | |||||||||||||||
Change in net assets from Class R2 capital transactions | $ | (32 | ) | $ | 83 | $ | 1,122 | $ | 272 | |||||||||||||
Institutional Class | ||||||||||||||||||||||
Proceeds from shares issued | $ | — | $ | — | $ | 527,453 | $ | 592,979 | ||||||||||||||
Dividends and distributions reinvested | — | — | 1,318 | 77,196 | ||||||||||||||||||
Cost of shares redeemed | — | — | (435,724 | ) | (488,063 | ) | ||||||||||||||||
Redemptions in-kind (See Note 10) | — | — | 47,173 | — | ||||||||||||||||||
Change in net assets from Institutional Class capital transactions | $ | — | $ | — | $ | 140,220 | $ | 182,112 | ||||||||||||||
Select Class | ||||||||||||||||||||||
Proceeds from shares issued | $ | 155,494 | $ | 137,158 | $ | 468,382 | $ | 532,900 | ||||||||||||||
Net assets acquired in Fund reorganization (See Note 9) | — | 339,484 | — | 57,919 | ||||||||||||||||||
Dividends and distributions reinvested | — | 1,881 | 167 | 20,726 | ||||||||||||||||||
Cost of shares redeemed | (218,476 | ) | (228,484 | ) | (368,720 | ) | (333,497 | ) | ||||||||||||||
Change in net assets from Select Class capital transactions | $ | (62,982 | ) | $ | 250,039 | $ | 99,829 | $ | 278,048 | |||||||||||||
Ultra (c) | ||||||||||||||||||||||
Proceeds from shares issued | $ | — | $ | 69 | $ | — | $ | — | ||||||||||||||
Cost of shares redeemed | — | (2,631 | ) | — | — | |||||||||||||||||
Change in net assets from Ultra capital transactions | $ | — | $ | (2,562 | ) | $ | — | $ | — | |||||||||||||
Total change in net assets from capital transactions | $ | (149,860 | ) | $ | 500,829 | $ | (131,054 | ) | $ | 109,125 |
FOR THE PERIODS INDICATED (continued)
Mid Cap Growth Fund | Mid Cap Value Fund | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | |||||||||||||||
SHARE TRANSACTIONS: | ||||||||||||||||||||||
Class A | ||||||||||||||||||||||
Issued | 6,323 | 3,776 | 15,310 | 21,642 | ||||||||||||||||||
Shares issued in connection with Fund reorganization (See Note 9) | — | 21,346 | — | 5,361 | ||||||||||||||||||
Reinvested | — | 522 | — | 6,737 | ||||||||||||||||||
Redeemed | (10,091 | ) | (6,401 | ) | (30,094 | ) | (50,189 | ) | ||||||||||||||
Change in Class A Shares | (3,768 | ) | 19,243 | (14,784 | ) | (16,449 | ) | |||||||||||||||
Class B | ||||||||||||||||||||||
Issued | 93 | 137 | 66 | 234 | ||||||||||||||||||
Shares issued in connection with Fund reorganization (See Note 9) | — | 667 | — | 920 | ||||||||||||||||||
Reinvested | — | 110 | — | 360 | ||||||||||||||||||
Redeemed | (1,235 | ) | (2,357 | ) | (2,050 | ) | (1,879 | ) | ||||||||||||||
Change in Class B Shares | (1,142 | ) | (1,443 | ) | (1,984 | ) | (365 | ) | ||||||||||||||
Class C | ||||||||||||||||||||||
Issued | 146 | 93 | 1,313 | 1,964 | ||||||||||||||||||
Shares issued in connection with Fund reorganization (See Note 9) | — | 1,004 | — | 480 | ||||||||||||||||||
Reinvested | — | (a) | 33 | — | (a) | 961 | ||||||||||||||||
Redeemed | (627 | ) | (547 | ) | (4,607 | ) | (7,744 | ) | ||||||||||||||
Change in Class C Shares | (481 | ) | 583 | (3,294 | ) | (4,339 | ) | |||||||||||||||
Class R2 (b) | ||||||||||||||||||||||
Issued | — | (a) | 2 | 121 | 20 | |||||||||||||||||
Shares issued in connection with Fund reorganization (See Note 9) | — | 4 | — | — | ||||||||||||||||||
Reinvested | — | — | — | — | (a) | |||||||||||||||||
Redeemed | (2 | ) | — | (64 | ) | — | (a) | |||||||||||||||
Change in Class R2 Shares | (2 | ) | 6 | 57 | 20 | |||||||||||||||||
Institutional Class | ||||||||||||||||||||||
Issued | — | — | 27,515 | 37,425 | ||||||||||||||||||
Reinvested | — | — | 69 | 5,165 | ||||||||||||||||||
Redeemed | — | — | (22,644 | ) | (29,975 | ) | ||||||||||||||||
Redemptions in-kind (See Note 10) | — | — | 2,355 | — | ||||||||||||||||||
Change in Institutional Class Shares | — | — | 7,295 | 12,615 | ||||||||||||||||||
Select Class | ||||||||||||||||||||||
Issued | 8,781 | 9,845 | 25,058 | 33,997 | ||||||||||||||||||
Shares issued in connection with Fund reorganization (See Note 9) | — | 23,389 | — | 3,801 | ||||||||||||||||||
Reinvested | — | 152 | 9 | 1,397 | ||||||||||||||||||
Redeemed | (12,859 | ) | (14,913 | ) | (19,421 | ) | (21,788 | ) | ||||||||||||||
Change in Select Class Shares | (4,078 | ) | 18,473 | 5,646 | 17,407 | |||||||||||||||||
Ultra (c) | ||||||||||||||||||||||
Issued | — | 6 | — | — | ||||||||||||||||||
Redeemed | — | (187 | ) | — | — | |||||||||||||||||
Change in Ultra Shares | — | (181 | ) | — | — |
(a) | Amount rounds to less than 1,000 (shares or dollars). |
(b) | Commencement of offering of class of shares effective June 19, 2009 for Mid Cap Growth Fund and November 3, 2008 for Mid Cap Value Fund. |
(c) | Ultra Shares of Mid Cap Growth Fund were liquidated on May 22, 2009. |
Multi-Cap Market Neutral Fund | Value Advantage Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | ||||||||||||
CAPITAL TRANSACTIONS: | |||||||||||||||||||
Class A | |||||||||||||||||||
Proceeds from shares issued | $ | 64,504 | $ | 40,587 | $ | 72,764 | $ | 60,805 | |||||||||||
Dividends and distributions reinvested | — | — | 1,731 | 2,351 | |||||||||||||||
Cost of shares redeemed | (33,398 | ) | (49,700 | ) | (67,947 | ) | (61,146 | ) | |||||||||||
Change in net assets from Class A capital transactions | $ | 31,106 | $ | (9,113 | ) | $ | 6,548 | $ | 2,010 | ||||||||||
Class B | |||||||||||||||||||
Proceeds from shares issued | $ | 84 | $ | 848 | $ | — | $ | — | |||||||||||
Cost of shares redeemed | (4,436 | ) | (4,281 | ) | — | — | |||||||||||||
Change in net assets from Class B capital transactions | $ | (4,352 | ) | $ | (3,433 | ) | $ | — | $ | — | |||||||||
Class C | |||||||||||||||||||
Proceeds from shares issued | $ | 4,139 | $ | 5,635 | $ | 17,785 | $ | 14,753 | |||||||||||
Dividends and distributions reinvested | — | — | 717 | 1,307 | |||||||||||||||
Cost of shares redeemed | (23,169 | ) | (33,635 | ) | (33,293 | ) | (51,906 | ) | |||||||||||
Change in net assets from Class C capital transactions | $ | (19,030 | ) | $ | (28,000 | ) | $ | (14,791 | ) | $ | (35,846 | ) | |||||||
Institutional Class | |||||||||||||||||||
Proceeds from shares issued | $ | — | $ | — | $ | 76,158 | $ | 59,553 | |||||||||||
Dividends and distributions reinvested | — | — | 1,753 | 280 | |||||||||||||||
Cost of shares redeemed | — | — | (9,427 | ) | (14,626 | ) | |||||||||||||
Change in net assets from Institutional Class capital transactions | $ | — | $ | — | $ | 68,484 | $ | 45,207 | |||||||||||
Select Class | |||||||||||||||||||
Proceeds from shares issued | $ | 153,988 | $ | 74,496 | $ | 28,225 | $ | 47,916 | |||||||||||
Dividends and distributions reinvested | — | — | 411 | 533 | |||||||||||||||
Cost of shares redeemed | (227,365 | ) | (471,808 | ) | (22,012 | ) | (33,249 | ) | |||||||||||
Change in net assets from Select Class capital transactions | $ | (73,377 | ) | $ | (397,312 | ) | $ | 6,624 | $ | 15,200 | |||||||||
Total change in net assets from capital transactions | $ | (65,653 | ) | $ | (437,858 | ) | $ | 66,865 | $ | 26,571 |
FOR THE PERIODS INDICATED (continued)
Multi-Cap Market Neutral Fund | Value Advantage Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended 6/30/2010 | | Year Ended 6/30/2009 | | Year Ended 6/30/2010 | | Year Ended 6/30/2009 | ||||||||||||
SHARE TRANSACTIONS: | |||||||||||||||||||
Class A | |||||||||||||||||||
Issued | 6,429 | 4,007 | 4,748 | 5,134 | |||||||||||||||
Reinvested | — | — | 114 | 216 | |||||||||||||||
Redeemed | (3,339 | ) | (4,964 | ) | (4,392 | ) | (5,281 | ) | |||||||||||
Change in Class A Shares | 3,090 | (957 | ) | 470 | 69 | ||||||||||||||
Class B | |||||||||||||||||||
Issued | 8 | 86 | — | — | |||||||||||||||
Redeemed | (453 | ) | (433 | ) | — | — | |||||||||||||
Change in Class B Shares | (445 | ) | (347 | ) | — | — | |||||||||||||
Class C | |||||||||||||||||||
Issued | 423 | 571 | 1,153 | 1,212 | |||||||||||||||
Reinvested | — | — | 47 | 120 | |||||||||||||||
Redeemed | (2,368 | ) | (3,391 | ) | (2,236 | ) | (4,370 | ) | |||||||||||
Change in Class C Shares | (1,945 | ) | (2,820 | ) | (1,036 | ) | (3,038 | ) | |||||||||||
Institutional Class | |||||||||||||||||||
Issued | — | — | 4,877 | 5,806 | |||||||||||||||
Reinvested | — | — | 115 | 26 | |||||||||||||||
Redeemed | — | — | (619 | ) | (1,146 | ) | |||||||||||||
Change in Institutional Class Shares | — | — | 4,373 | 4,686 | |||||||||||||||
Select Class | |||||||||||||||||||
Issued | 15,269 | 7,389 | 1,827 | 4,373 | |||||||||||||||
Reinvested | — | — | 27 | 49 | |||||||||||||||
Redeemed | (22,446 | ) | (46,864 | ) | (1,427 | ) | (3,181 | ) | |||||||||||
Change in Select Class Shares | (7,177 | ) | (39,475 | ) | 427 | 1,241 | |||||||||||||
FOR THE PERIODS INDICATED
| Per share operating performance | | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment operations | |||||||||||||||||||
| Net asset value, beginning of period | | Net investment income (loss) | | Net realized and unrealized gains (losses) on investments | | Total from investment operations | ||||||||||||
Growth Advantage Fund | |||||||||||||||||||
Class A | |||||||||||||||||||
Year Ended June 30, 2010 | $ | 5.88 | $ | (0.03 | )(e) | $ | 0.91 | $ | 0.88 | ||||||||||
Year Ended June 30, 2009 | 8.14 | (0.03 | )(e) | (2.23 | ) | (2.26 | ) | ||||||||||||
Year Ended June 30, 2008 | 8.18 | (0.05 | )(e) | 0.01 | (0.04 | ) | |||||||||||||
Year Ended June 30, 2007 | 6.63 | (0.05 | )(e) | 1.60 | 1.55 | ||||||||||||||
January 1, 2006 through June 30, 2006 (g) | 6.35 | (0.01 | )(e) | 0.29 | 0.28 | ||||||||||||||
Year Ended December 31, 2005 | 5.74 | (0.05 | )(e) | 0.66 | 0.61 | ||||||||||||||
Class B | |||||||||||||||||||
Year Ended June 30, 2010 | 5.51 | (0.06 | )(e) | 0.86 | 0.80 | ||||||||||||||
Year Ended June 30, 2009 | 7.67 | (0.06 | )(e) | (2.10 | ) | (2.16 | ) | ||||||||||||
Year Ended June 30, 2008 | 7.76 | (0.09 | )(e) | — | (h) | (0.09 | ) | ||||||||||||
Year Ended June 30, 2007 | 6.33 | (0.10 | )(e) | 1.53 | 1.43 | ||||||||||||||
January 1, 2006 through June 30, 2006 (g) | 6.08 | (0.03 | )(e) | 0.28 | 0.25 | ||||||||||||||
Year Ended December 31, 2005 | 5.54 | (0.09 | )(e) | 0.63 | 0.54 | ||||||||||||||
Class C | |||||||||||||||||||
Year Ended June 30, 2010 | 5.52 | (0.06 | )(e) | 0.85 | 0.79 | ||||||||||||||
Year Ended June 30, 2009 | 7.68 | (0.06 | )(e) | (2.10 | ) | (2.16 | ) | ||||||||||||
Year Ended June 30, 2008 | 7.76 | (0.09 | )(e) | 0.01 | (0.08 | ) | |||||||||||||
Year Ended June 30, 2007 | 6.34 | (0.11 | )(e) | 1.53 | 1.42 | ||||||||||||||
May 1, 2006(i) through June 30, 2006 (g) | 6.80 | (0.04 | )(e) | (0.42 | ) | (0.46 | ) | ||||||||||||
Class R5 | |||||||||||||||||||
Year Ended June 30, 2010 | 5.93 | — | (e)(h) | 0.93 | 0.93 | ||||||||||||||
January 8, 2009 (i) through June 30, 2009 | 5.37 | — | (e)(h) | 0.56 | 0.56 | ||||||||||||||
Select Class | |||||||||||||||||||
Year Ended June 30, 2010 | 5.93 | (0.01 | )(e) | 0.91 | 0.90 | ||||||||||||||
Year Ended June 30, 2009 | 8.18 | (0.01 | )(e) | (2.24 | ) | (2.25 | ) | ||||||||||||
Year Ended June 30, 2008 | 8.20 | (0.03 | )(e) | 0.01 | (0.02 | ) | |||||||||||||
Year Ended June 30, 2007 | 6.64 | (0.04 | )(e) | 1.60 | 1.56 | ||||||||||||||
May 1, 2006(i) through June 30, 2006 (g) | 7.11 | (0.01 | )(e) | (0.46 | ) | (0.47 | ) |
(a) | Annualized for periods less than one year. |
(b) | Not annualized for periods less than one year. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, each of which is less than 0.01%, if applicable or unless otherwise noted. |
(e) | Calculated based upon average shares outstanding. |
(f) | Includes interest expense of 0.01%. |
(g) | The Fund changed its fiscal year end from December 31 to June 30. |
(h) | Amount rounds to less than $0.01. |
(i) | Commencement of offering of class of shares. |
| Ratios/Supplemental data | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ratios to average net assets (a) | ||||||||||||||||||||||||||
Net asset value, end of period | | Total return (excludes sales charge) (b)(c) | | Net assets, end of period (000’s) | | Net expenses (d) | | Net investment income (loss) | | Expenses without waivers, reimbursements and earning credits | | Portfolio turnover rate (b) | ||||||||||||||
$6.76 | 14.97 | % | $ | 101,814 | 1.31 | % | (0.41 | )% | 1.31 | % | 102 | % | ||||||||||||||
5.88 | (27.76 | ) | 71,841 | 1.35 | (0.48 | ) | 1.42 | 119 | ||||||||||||||||||
8.14 | (0.49 | ) | 70,546 | 1.34 | (0.58 | ) | 1.47 | 118 | ||||||||||||||||||
8.18 | 23.38 | 49,782 | 1.36 | (f) | (0.71 | ) | 1.66 | 159 | ||||||||||||||||||
6.63 | 4.41 | 71,538 | 1.35 | (0.37 | ) | 1.90 | 81 | |||||||||||||||||||
6.35 | 10.63 | 54,737 | 1.35 | (0.81 | ) | 1.75 | 140 | |||||||||||||||||||
6.31 | 14.52 | 3,070 | 1.81 | (0.91 | ) | 1.81 | 102 | |||||||||||||||||||
5.51 | (28.16 | ) | 3,304 | 1.87 | (1.02 | ) | 1.92 | 119 | ||||||||||||||||||
7.67 | (1.16 | ) | 4,340 | 1.91 | (1.16 | ) | 1.94 | 118 | ||||||||||||||||||
7.76 | 22.59 | 1,501 | 2.06 | (f) | (1.43 | ) | 2.17 | 159 | ||||||||||||||||||
6.33 | 4.11 | 1,230 | 2.05 | (1.02 | ) | 2.40 | 81 | |||||||||||||||||||
6.08 | 9.75 | 1,359 | 2.05 | (1.51 | ) | 2.24 | 140 | |||||||||||||||||||
6.31 | 14.31 | 12,811 | 1.81 | (0.91 | ) | 1.81 | 102 | |||||||||||||||||||
5.52 | (28.13 | ) | 9,300 | 1.87 | (1.02 | ) | 1.91 | 119 | ||||||||||||||||||
7.68 | (1.03 | ) | 14,499 | 1.88 | (1.16 | ) | 1.89 | 118 | ||||||||||||||||||
7.76 | 22.40 | 251 | 2.07 | (f) | (1.49 | ) | 2.18 | 159 | ||||||||||||||||||
6.34 | (6.76 | ) | 14 | 2.05 | (1.32 | ) | 2.37 | 81 | ||||||||||||||||||
6.86 | 15.68 | 76,767 | 0.86 | 0.05 | 0.86 | 102 | ||||||||||||||||||||
5.93 | 10.43 | 46,312 | 0.90 | (0.08 | ) | 1.06 | 119 | |||||||||||||||||||
6.83 | 15.18 | 604,663 | 1.06 | (0.16 | ) | 1.06 | 102 | |||||||||||||||||||
5.93 | (27.51 | ) | 441,345 | 1.10 | (0.24 | ) | 1.17 | 119 | ||||||||||||||||||
8.18 | (0.24 | ) | 399,777 | 1.09 | (0.41 | ) | 1.12 | 118 | ||||||||||||||||||
8.20 | 23.49 | 10,985 | 1.11 | (f) | (0.50 | ) | 1.45 | 159 | ||||||||||||||||||
6.64 | (6.61 | ) | 14 | 1.10 | (0.37 | ) | 1.61 | 81 |
.
FOR THE PERIODS INDICATED (continued)
| | Per share operating performance | | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment operations | Distributions | ||||||||||||||||||||||||||||||
| Net asset value, beginning of period | | Net investment income (loss) | | Net realized and unrealized gains (losses) on investments | | Total from investment operations | | Net investment income | | Net realized gain | | Total distributions | ||||||||||||||||||
Mid Cap Equity Fund | |||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||
November 2, 2009 (e) through June 30, 2010 | $ | 21.55 | $ | 0.05 | $ | 1.41 | $ | 1.46 | $ | (0.06 | ) | $ | — | $ | (0.06 | ) | |||||||||||||||
Class C | |||||||||||||||||||||||||||||||
November 2, 2009 (e) through June 30, 2010 | 21.55 | (0.03 | ) | 1.41 | 1.38 | — | (f) | — | — | (f) | |||||||||||||||||||||
Select Class | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 18.97 | 0.12 | 4.00 | 4.12 | (0.12 | ) | — | (0.12 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 28.63 | 0.18 | (8.37 | ) | (8.19 | ) | (0.17 | ) | (1.30 | ) | (1.47 | ) | |||||||||||||||||||
Year Ended June 30, 2008 | 37.93 | 0.11 | (2.80 | ) | (2.69 | ) | (0.11 | ) | (6.50 | ) | (6.61 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 34.51 | 0.12 | 6.13 | 6.25 | (0.10 | ) | (2.73 | ) | (2.83 | ) | |||||||||||||||||||||
January 1, 2006 through June 30, 2006 (g) | 32.87 | 0.14 | (h) | 1.64 | 1.78 | (0.14 | ) | — | (0.14 | ) | |||||||||||||||||||||
Year Ended December 31, 2005 | 33.30 | 0.10 | (h) | 3.09 | 3.19 | (0.09 | ) | (3.53 | ) | (3.62 | ) |
(a) | Annualized for periods less than one year |
(b) | Not annualized for periods less than one year. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, each of which is less than 0.01%, if applicable or unless otherwise noted. |
(e) | Commencement of offering of class of shares. |
(f) | Amount rounds to less than $0.01. |
(g) | The Fund changed its fiscal year end from December 31 to June 30. |
(h) | Calculated based upon average shares outstanding. |
| Ratios/Supplemental data | | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ratios to average net assets (a) | |||||||||||||||||||||||||||
Net asset value, end of period | | Total return (excludes sales charge) (b)(c) | | Net assets, end of period (000’s) | | Net expenses (d) | | Net investment income (loss) | | Expenses without waivers, reimbursements and earning credits | | Portfolio turnover rate (b) | |||||||||||||||
$22.95 | 6.77 | % | $ | 1,394 | 1.24 | % | 0.30 | % | 1.44 | % | 56 | % | |||||||||||||||
22.93 | 6.40 | 65 | 1.74 | (0.23 | ) | 1.92 | 56 | ||||||||||||||||||||
22.97 | 21.72 | 463,478 | 0.89 | 0.55 | 1.17 | 56 | |||||||||||||||||||||
18.97 | (28.02 | ) | 195,785 | 0.90 | 0.94 | 1.20 | 107 | ||||||||||||||||||||
28.63 | (8.19 | ) | 189,589 | 0.91 | 0.32 | 1.12 | 79 | ||||||||||||||||||||
37.93 | 18.97 | 284,546 | 0.90 | 0.35 | 1.09 | 82 | |||||||||||||||||||||
34.51 | 5.42 | 298,104 | 0.90 | 0.85 | 1.08 | 41 | |||||||||||||||||||||
32.87 | 9.61 | 268,582 | 0.90 | 0.29 | 1.08 | 99 |
FOR THE PERIODS INDICATED (continued)
| Per share operating performance | | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment operations | | Distributions | |||||||||||||||||||||
| Net asset value, beginning of period | | Net investment income (loss) | | Net realized and unrealized gains (losses) on investments | | Total from investment operations | | Net realized gain | ||||||||||||||
Mid Cap Growth Fund (e) | |||||||||||||||||||||||
Class A | |||||||||||||||||||||||
Year Ended June 30, 2010 | $ | 13.68 | $ | (0.09 | )(f) | $ | 2.76 | $ | 2.67 | $ | — | ||||||||||||
Year Ended June 30, 2009 | 20.46 | (0.07 | )(f) | (6.33 | )(g) | (6.40 | ) | (0.38 | ) | ||||||||||||||
Year Ended June 30, 2008 | 24.89 | (0.17 | )(f) | (0.45 | ) | (0.62 | ) | (3.81 | ) | ||||||||||||||
Year Ended June 30, 2007 | 24.85 | (0.18 | )(f) | 4.41 | 4.23 | (4.19 | ) | ||||||||||||||||
Year Ended June 30, 2006 | 23.99 | (0.10 | ) | 2.97 | 2.87 | (2.01 | ) | ||||||||||||||||
Class B | |||||||||||||||||||||||
Year Ended June 30, 2010 | 10.85 | (0.14 | )(f) | 2.19 | 2.05 | — | |||||||||||||||||
Year Ended June 30, 2009 | 16.45 | (0.13 | )(f) | (5.09 | )(g) | (5.22 | ) | (0.38 | ) | ||||||||||||||
Year Ended June 30, 2008 | 20.88 | (0.26 | )(f) | (0.36 | ) | (0.62 | ) | (3.81 | ) | ||||||||||||||
Year Ended June 30, 2007 | 21.59 | (0.28 | )(f) | 3.76 | 3.48 | (4.19 | ) | ||||||||||||||||
Year Ended June 30, 2006 | 21.21 | (0.70 | ) | 3.09 | 2.39 | (2.01 | ) | ||||||||||||||||
Class C | |||||||||||||||||||||||
Year Ended June 30, 2010 | 12.39 | (0.16 | )(f) | 2.50 | 2.34 | — | |||||||||||||||||
Year Ended June 30, 2009 | 18.70 | (0.15 | )(f) | (5.78 | )(g) | (5.93 | ) | (0.38 | ) | ||||||||||||||
Year Ended June 30, 2008 | 23.21 | (0.29 | )(f) | (0.41 | ) | (0.70 | ) | (3.81 | ) | ||||||||||||||
Year Ended June 30, 2007 | 23.57 | (0.31 | )(f) | 4.14 | 3.83 | (4.19 | ) | ||||||||||||||||
Year Ended June 30, 2006 | 22.98 | (0.43 | ) | 3.03 | 2.60 | (2.01 | ) | ||||||||||||||||
Class R2 | |||||||||||||||||||||||
Year Ended June 30, 2010 | 14.56 | (0.12 | )(f) | 2.94 | 2.82 | — | |||||||||||||||||
June 19, 2009 (i) through June 30, 2009 | 14.56 | — | (f)(j) | — | (j) | — | (j) | — | |||||||||||||||
Select Class | |||||||||||||||||||||||
Year Ended June 30, 2010 | 14.57 | (0.04 | )(f) | 2.94 | 2.90 | — | |||||||||||||||||
Year Ended June 30, 2009 | 21.68 | (0.03 | )(f) | (6.70 | )(g) | (6.73 | ) | (0.38 | ) | ||||||||||||||
Year Ended June 30, 2008 | 26.10 | (0.12 | )(f) | (0.49 | ) | (0.61 | ) | (3.81 | ) | ||||||||||||||
Year Ended June 30, 2007 | 25.81 | (0.12 | )(f) | 4.60 | 4.48 | (4.19 | ) | ||||||||||||||||
Year Ended June 30, 2006 | 24.78 | 0.10 | 2.94 | 3.04 | (2.01 | ) |
(a) | Annualized for periods less than one year |
(b) | Not annualized for periods less than one year. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, each of which is less than 0.01%, if applicable or unless otherwise noted. |
(e) | Prior to June 27, 2009, the Fund was named Diversified Mid Cap Growth Fund. |
(f) | Calculated based upon average shares outstanding. |
(g) | An affiliate of JPMorgan Chase & Co. reimbursed the Fund for losses incurred from an operational error. There was no impact to the net realized and unrealized gains (losses) on investments per share and the total return. |
(h) | Includes a gain incurred resulting from a payment by affiliate. The effect was less than 0.01% on total return. |
(i) | Commencement of offering of class of shares. |
(j) | Amount rounds to less than $0.01. |
| Ratios/Supplemental data | | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ratios to average net assets (a) | |||||||||||||||||||||||||||
Net asset value, end of period | | Total return (excludes sales charge) (b)(c) | | Net assets, end of period (000’s) | | Net expenses (d) | | Net investment income (loss) | | Expenses without waivers, reimbursements and earning credits | | Portfolio turnover rate (b) | |||||||||||||||
$16.35 | 19.52 | % | $ | 560,054 | 1.24 | % | (0.53 | )% | 1.42 | % | 82 | % | |||||||||||||||
13.68 | (30.97 | )(g) | 520,201 | 1.24 | (0.48 | ) | 1.56 | 96 | |||||||||||||||||||
20.46 | (3.22 | )(h) | 384,225 | 1.24 | (0.75 | ) | 1.39 | 95 | |||||||||||||||||||
24.89 | 18.65 | 480,084 | 1.24 | (0.73 | ) | 1.36 | 119 | ||||||||||||||||||||
24.85 | 12.20 | 451,565 | 1.24 | (0.42 | ) | 1.41 | 112 | ||||||||||||||||||||
12.90 | 18.89 | 20,893 | 1.77 | (1.07 | ) | 1.92 | 82 | ||||||||||||||||||||
10.85 | (31.35 | )(g) | 29,963 | 1.88 | (1.14 | ) | 2.03 | 96 | |||||||||||||||||||
16.45 | (3.90 | )(h) | 69,186 | 1.88 | (1.38 | ) | 1.89 | 95 | |||||||||||||||||||
20.88 | 17.93 | 123,779 | 1.86 | (1.35 | ) | 1.86 | 119 | ||||||||||||||||||||
21.59 | 11.51 | 155,268 | 1.89 | (1.07 | ) | 1.91 | 112 | ||||||||||||||||||||
14.73 | 18.89 | 23,389 | 1.77 | (1.06 | ) | 1.92 | 82 | ||||||||||||||||||||
12.39 | (31.38 | )(g) | 25,624 | 1.88 | (1.13 | ) | 2.04 | 96 | |||||||||||||||||||
18.70 | (3.85 | )(h) | 27,785 | 1.88 | (1.38 | ) | 1.89 | 95 | |||||||||||||||||||
23.21 | 17.90 | 38,805 | 1.86 | (1.35 | ) | 1.86 | 119 | ||||||||||||||||||||
23.57 | 11.53 | 42,448 | 1.89 | (1.07 | ) | 1.91 | 112 | ||||||||||||||||||||
17.38 | 19.37 | 63 | 1.40 | (0.69 | ) | 1.67 | 82 | ||||||||||||||||||||
14.56 | 0.00 | 83 | 1.22 | (0.31 | ) | 1.94 | 96 | ||||||||||||||||||||
17.47 | 19.90 | 685,843 | 0.93 | (0.22 | ) | 1.17 | 82 | ||||||||||||||||||||
14.57 | (30.74 | )(g) | 631,380 | 0.98 | (0.23 | ) | 1.30 | 96 | |||||||||||||||||||
21.68 | (3.02 | )(h) | 539,292 | 0.99 | (0.49 | ) | 1.13 | 95 | |||||||||||||||||||
26.10 | 18.95 | 740,208 | 0.99 | (0.48 | ) | 1.11 | 119 | ||||||||||||||||||||
25.81 | 12.51 | 769,574 | 0.99 | (0.19 | ) | 1.16 | 112 |
FOR THE PERIODS INDICATED (continued)
| | Per share operating performance | | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment operations | Distributions | ||||||||||||||||||||||||||||||
| Net asset value, beginning of period | | Net investment income (loss) | | Net realized and unrealized gains (losses) on investments | | Total from investment operations | | Net investment income | | Net realized gain | | Total distributions | ||||||||||||||||||
Mid Cap Value Fund | |||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | $ | 15.24 | $ | 0.19 | (e) | $ | 3.48 | $ | 3.67 | $ | — | $ | — | $ | — | ||||||||||||||||
Year Ended June 30, 2009 | 21.91 | 0.28 | (e) | (5.92 | ) | (5.64 | ) | (0.34 | ) | (0.69 | ) | (1.03 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 27.71 | 0.16 | (3.78 | ) | (3.62 | ) | (0.12 | ) | (2.06 | ) | (2.18 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 24.73 | 0.17 | 4.21 | 4.38 | (0.25 | ) | (1.15 | ) | (1.40 | ) | |||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 23.28 | 0.14 | 1.31 | 1.45 | — | — | — | ||||||||||||||||||||||||
Year Ended December 31, 2005 | 22.05 | 0.12 | (e) | 1.84 | 1.96 | (0.12 | ) | (0.61 | ) | (0.73 | ) | ||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 14.89 | 0.10 | (e) | 3.39 | 3.49 | — | — | — | |||||||||||||||||||||||
Year Ended June 30, 2009 | 21.39 | 0.20 | (e) | (5.79 | ) | (5.59 | ) | (0.22 | ) | (0.69 | ) | (0.91 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 27.11 | 0.03 | (3.69 | ) | (3.66 | ) | — | (2.06 | ) | (2.06 | ) | ||||||||||||||||||||
Year Ended June 30, 2007 | 24.21 | 0.05 | 4.12 | 4.17 | (0.12 | ) | (1.15 | ) | (1.27 | ) | |||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 22.86 | 0.08 | 1.27 | 1.35 | — | — | — | ||||||||||||||||||||||||
Year Ended December 31, 2005 | 21.66 | — | (e)(g) | 1.81 | 1.81 | — | (0.61 | ) | (0.61 | ) | |||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 14.94 | 0.10 | (e) | 3.40 | 3.50 | — | — | — | |||||||||||||||||||||||
Year Ended June 30, 2009 | 21.45 | 0.20 | (e) | (5.80 | ) | (5.60 | ) | (0.22 | ) | (0.69 | ) | (0.91 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 27.17 | 0.04 | (3.70 | ) | (3.66 | ) | — | (2.06 | ) | (2.06 | ) | ||||||||||||||||||||
Year Ended June 30, 2007 | 24.26 | 0.05 | 4.13 | 4.18 | (0.12 | ) | (1.15 | ) | (1.27 | ) | |||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 22.90 | 0.08 | 1.28 | 1.36 | — | — | — | ||||||||||||||||||||||||
Year Ended December 31, 2005 | 21.70 | — | (e)(g) | 1.81 | 1.81 | — | (g) | (0.61 | ) | (0.61 | ) | ||||||||||||||||||||
Class R2 | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 15.06 | 0.15 | (e) | 3.42 | 3.57 | — | — | — | |||||||||||||||||||||||
November 3, 2008(h) through June 30, 2009 | 16.34 | 0.20 | (e) | (0.30 | ) | (0.10 | ) | (0.49 | ) | (0.69 | ) | (1.18 | ) | ||||||||||||||||||
Institutional Class | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 15.43 | 0.29 | (e) | 3.52 | 3.81 | (0.02 | ) | — | (0.02 | ) | |||||||||||||||||||||
Year Ended June 30, 2009 | 22.31 | 0.38 | (e) | (6.06 | ) | (5.68 | ) | (0.51 | ) | (0.69 | ) | (1.20 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 28.17 | 0.31 | (3.85 | ) | (3.54 | ) | (0.26 | ) | (2.06 | ) | (2.32 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 25.10 | 0.30 | 4.29 | 4.59 | (0.37 | ) | (1.15 | ) | (1.52 | ) | |||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 23.58 | 0.20 | 1.32 | 1.52 | — | — | — | ||||||||||||||||||||||||
Year Ended December 31, 2005 | 22.30 | 0.24 | (e) | 1.86 | 2.10 | (0.21 | ) | (0.61 | ) | (0.82 | ) | ||||||||||||||||||||
Select Class | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 15.34 | 0.24 | (e) | 3.49 | 3.73 | — | (g) | — | — (g) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 22.14 | 0.34 | (e) | (6.01 | ) | (5.67 | ) | (0.44 | ) | (0.69 | ) | (1.13 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 27.96 | 0.27 | (3.85 | ) | (3.58 | ) | (0.18 | ) | (2.06 | ) | (2.24 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 24.93 | 0.27 | 4.22 | 4.49 | (0.31 | ) | (1.15 | ) | (1.46 | ) | |||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 23.44 | 0.17 | 1.32 | 1.49 | — | — | — | ||||||||||||||||||||||||
Year Ended December 31, 2005 | 22.18 | 0.18 | (e) | 1.85 | 2.03 | (0.16 | ) | (0.61 | ) | (0.77 | ) |
(a) | Annualized for periods less than one year. |
(b) | Not annualized for periods less than one year. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, each of which is less than 0.01%, if applicable or unless otherwise noted. |
(e) | Calculated based upon average shares outstanding. |
(f) | The Fund changed its fiscal year end from December 31 to June 30. |
(g) | Amount rounds to less than $0.01. |
(h) | Commencement of offering of class of shares. |
| Ratios/Supplemental data | | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ratios to average net assets (a) | |||||||||||||||||||||||||||
Net asset value, end of period | | Total return (excludes sales charge) (b)(c) | | Net assets, end of period (000’s) | | Net expenses (d) | | Net investment income (loss) | | Expenses without waivers, reimbursements and earning credits | | Portfolio turnover rate (b) | |||||||||||||||
$18.91 | 24.08 | % | $ | 1,705,572 | 1.23 | % | 1.04 | % | 1.40 | % | 34 | % | |||||||||||||||
15.24 | (25.49 | ) | 1,600,044 | 1.25 | 1.71 | 1.42 | 47 | ||||||||||||||||||||
21.91 | (13.70 | ) | 2,661,377 | 1.25 | 0.66 | 1.42 | 31 | ||||||||||||||||||||
27.71 | 18.21 | 3,822,632 | 1.25 | 0.71 | 1.35 | 45 | |||||||||||||||||||||
24.73 | 6.23 | 3,001,515 | 1.25 | 1.15 | 1.39 | 20 | |||||||||||||||||||||
23.28 | 8.87 | 2,822,767 | 1.25 | 0.54 | 1.39 | 45 | |||||||||||||||||||||
18.38 | 23.44 | 96,966 | 1.74 | 0.53 | 1.90 | 34 | |||||||||||||||||||||
14.89 | (25.89 | ) | 108,114 | 1.75 | 1.21 | 1.92 | 47 | ||||||||||||||||||||
21.39 | (14.14 | ) | 163,091 | 1.75 | 0.15 | 1.92 | 31 | ||||||||||||||||||||
27.11 | 17.65 | 237,745 | 1.75 | 0.20 | 1.85 | 45 | |||||||||||||||||||||
24.21 | 5.91 | 229,998 | 1.75 | 0.64 | 1.89 | 20 | |||||||||||||||||||||
22.86 | 8.36 | 233,396 | 1.77 | (0.01 | ) | 1.89 | 45 | ||||||||||||||||||||
18.44 | 23.43 | 309,513 | 1.74 | 0.53 | 1.90 | 34 | |||||||||||||||||||||
14.94 | (25.88 | ) | 299,956 | 1.75 | 1.20 | 1.92 | 47 | ||||||||||||||||||||
21.45 | (14.11 | ) | 523,722 | 1.75 | 0.14 | 1.92 | 31 | ||||||||||||||||||||
27.17 | 17.64 | 818,261 | 1.75 | 0.20 | 1.85 | 45 | |||||||||||||||||||||
24.26 | 5.94 | 790,689 | 1.75 | 0.64 | 1.89 | 20 | |||||||||||||||||||||
22.90 | 8.34 | 822,366 | 1.76 | 0.01 | 1.89 | 45 | |||||||||||||||||||||
18.63 | 23.71 | 1,441 | 1.49 | 0.77 | 1.65 | 34 | |||||||||||||||||||||
15.06 | (0.24 | ) | 294 | 1.50 | 2.12 | 1.69 | 47 | ||||||||||||||||||||
19.22 | 24.68 | 1,913,930 | 0.74 | 1.52 | 1.00 | 34 | |||||||||||||||||||||
15.43 | (25.15 | ) | 1,424,004 | 0.75 | 2.26 | 1.02 | 47 | ||||||||||||||||||||
22.31 | (13.25 | ) | 1,777,057 | 0.75 | 1.16 | 1.02 | 31 | ||||||||||||||||||||
28.17 | 18.82 | 2,566,230 | 0.75 | 1.21 | 0.95 | 45 | |||||||||||||||||||||
25.10 | 6.45 | 2,009,351 | 0.75 | 1.65 | 0.99 | 20 | |||||||||||||||||||||
23.58 | 9.42 | 1,915,393 | 0.75 | 1.02 | 0.98 | 45 | |||||||||||||||||||||
19.07 | 24.35 | 1,061,308 | 0.98 | 1.29 | 1.15 | 34 | |||||||||||||||||||||
15.34 | (25.31 | ) | 766,965 | 1.00 | 2.05 | 1.18 | 47 | ||||||||||||||||||||
22.14 | (13.46 | ) | 721,777 | 1.00 | 0.90 | 1.16 | 31 | ||||||||||||||||||||
27.96 | 18.49 | 1,183,839 | 1.00 | 0.95 | 1.10 | 45 | |||||||||||||||||||||
24.93 | 6.36 | 1,255,960 | 1.00 | 1.40 | 1.14 | 20 | |||||||||||||||||||||
23.44 | 9.16 | 1,222,881 | 1.00 | 0.80 | 1.13 | 45 |
FOR THE PERIODS INDICATED (continued)
| | Per share operating performance | | ||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment operations | Distributions | ||||||||||||||||||||||||||||||||||||||
| Net asset value, beginning of period | | Net investment income (loss) | | Net realized and unrealized gains (losses) on investments | | Total from investment operations | | Net investment income | | Net realized gain | | Return of capital | | Total distributions | | Redemption fees | ||||||||||||||||||||||
Multi-Cap Market Neutral Fund | |||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | $ | 10.21 | $ | (0.17 | )(d) | $ | (0.33 | ) | $ | (0.50 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
Year Ended June 30, 2009 | 10.23 | (0.08 | )(d) | 0.06 | (0.02 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2008 | 11.24 | 0.28 | (d) | (0.74 | ) | (0.46 | ) | (0.54 | ) | — | (0.01 | ) | (0.55 | ) | — | ||||||||||||||||||||||||
Year Ended June 30, 2007 | 10.98 | 0.37 | 0.20 | 0.57 | (0.31 | ) | — | — | (0.31 | ) | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2006 | 10.93 | 0.26 | 0.28 | 0.54 | (0.17 | ) | (0.32 | ) | — | (0.49 | ) | — | (e) | ||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 10.01 | (0.23 | )(d) | (0.34 | ) | (0.57 | ) | — | — | — | — | — | |||||||||||||||||||||||||||
Year Ended June 30, 2009 | 10.10 | (0.15 | )(d) | 0.06 | (0.09 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2008 | 11.07 | 0.17 | (d) | (0.70 | ) | (0.53 | ) | (0.43 | ) | — | (0.01 | ) | (0.44 | ) | — | ||||||||||||||||||||||||
Year Ended June 30, 2007 | 10.80 | 0.29 | 0.20 | 0.49 | (0.22 | ) | — | — | (0.22 | ) | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2006 | 10.76 | 0.17 | 0.28 | 0.45 | (0.09 | ) | (0.32 | ) | — | (0.41 | ) | — | (e) | ||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 10.02 | (0.23 | )(d) | (0.33 | ) | (0.56 | ) | — | — | — | — | — | |||||||||||||||||||||||||||
Year Ended June 30, 2009 | 10.12 | (0.15 | )(d) | 0.05 | (0.10 | ) | — | — | — | — | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2008 | 11.07 | 0.19 | (d) | (0.71 | ) | (0.52 | ) | (0.42 | ) | — | (0.01 | ) | (0.43 | ) | — | ||||||||||||||||||||||||
Year Ended June 30, 2007 | 10.80 | 0.29 | 0.20 | 0.49 | (0.22 | ) | — | — | (0.22 | ) | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2006 | 10.77 | 0.17 | 0.27 | 0.44 | (0.09 | ) | (0.32 | ) | — | (0.41 | ) | — | (e) | ||||||||||||||||||||||||||
Select Class | |||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 10.27 | (0.14 | )(d) | (0.34 | ) | (0.48 | ) | — | — | — | — | — | |||||||||||||||||||||||||||
Year Ended June 30, 2009 | 10.27 | (0.05 | )(d) | 0.05 | — | (e) | — | — | — | — | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2008 | 11.31 | 0.30 | (d) | (0.73 | ) | (0.43 | ) | (0.60 | ) | — | (0.01 | ) | (0.61 | ) | — | ||||||||||||||||||||||||
Year Ended June 30, 2007 | 11.04 | 0.36 | 0.25 | 0.61 | (0.34 | ) | — | — | (0.34 | ) | — | ||||||||||||||||||||||||||||
Year Ended June 30, 2006 | 10.99 | 0.24 | 0.32 | 0.56 | (0.19 | ) | (0.32 | ) | — | (0.51 | ) | — | (e) |
(a) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. |
(b) | Includes earnings credits and interest expense, each of which is less than 0.01%, if applicable or unless otherwise noted. |
(c) | Commencing on June 30, 2009, the Fund will present portfolio turnover in two ways, one including short sales and the other excluding short sales. For periods prior to June 30, 2009, the Fund’s portfolio turnover calculation excluded short sales. |
(d) | Calculated based upon average shares outstanding. |
(e) | Amount rounds to less than $0.01. |
| Ratios/Supplemental data | | |||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ratios to average net assets (a) | |||||||||||||||||||||||||||||||||||||||
Net asset value, end of period | | Total return (excludes sales charge) (a) | | Net assets, end of period (000’s) | | Net expenses (including dividend and interest expense for securities sold short) (b) | | Net expenses (excluding dividend and interest expense for securities sold short) (b) | | Net investment income (loss) | | Expenses without waivers, reimbursements and earnings credits (including dividend and interest expense for securities sold short) | | Expenses without waivers, reimbursements and earnings credits (excluding dividend and interest expense for securities sold short) | | Portfolio turnover rate (excluding short sales) (c) | | Portfolio turnover rate (including short sales) (c) | |||||||||||||||||||||
$ 9.71 | (4.90 | )% | $ | 94,549 | 2.94 | % | 1.49 | % | (1.65 | )% | 3.39 | % | 1.94 | % | 146 | % | 348 | % | |||||||||||||||||||||
10.21 | (0.20 | ) | 67,884 | 2.84 | 1.50 | (0.79 | ) | 3.29 | 1.95 | 175 | 350 | ||||||||||||||||||||||||||||
10.23 | (4.00 | ) | 77,838 | 2.52 | 1.51 | 2.62 | 2.94 | 1.93 | 116 | — | |||||||||||||||||||||||||||||
11.24 | 5.27 | 204,059 | 2.69 | 1.50 | 3.32 | 3.10 | 1.91 | 96 | — | ||||||||||||||||||||||||||||||
10.98 | 5.14 | 190,855 | 2.60 | 1.50 | 2.38 | 3.02 | 1.92 | 121 | — | ||||||||||||||||||||||||||||||
�� | |||||||||||||||||||||||||||||||||||||||
9.44 | (5.69 | ) | 7,849 | 3.69 | 2.24 | (2.39 | ) | 3.89 | 2.44 | 146 | 348 | ||||||||||||||||||||||||||||
10.01 | (0.89 | ) | 12,766 | 3.59 | 2.25 | (1.55 | ) | 3.79 | 2.45 | 175 | 350 | ||||||||||||||||||||||||||||
10.10 | (4.77 | ) | 16,402 | 3.28 | 2.26 | 1.66 | 3.45 | 2.43 | 116 | — | |||||||||||||||||||||||||||||
11.07 | 4.56 | 24,974 | 3.44 | 2.25 | 2.60 | 3.60 | 2.41 | 96 | — | ||||||||||||||||||||||||||||||
10.80 | 4.33 | 28,129 | 3.35 | 2.25 | 1.63 | 3.52 | 2.42 | 121 | — | ||||||||||||||||||||||||||||||
9.46 | (5.59 | ) | 39,610 | 3.70 | 2.24 | (2.39 | ) | 3.89 | 2.44 | 146 | 348 | ||||||||||||||||||||||||||||
10.02 | (0.99 | ) | 61,467 | 3.59 | 2.25 | (1.54 | ) | 3.79 | 2.45 | 175 | 350 | ||||||||||||||||||||||||||||
10.12 | (4.71 | ) | 90,603 | 3.28 | 2.26 | 1.79 | 3.45 | 2.43 | 116 | — | |||||||||||||||||||||||||||||
11.07 | 4.56 | 187,546 | 3.44 | 2.25 | 2.60 | 3.60 | 2.41 | 96 | — | ||||||||||||||||||||||||||||||
10.80 | 4.25 | 200,403 | 3.35 | 2.25 | 1.61 | 3.52 | 2.42 | 121 | — | ||||||||||||||||||||||||||||||
9.79 | (4.67 | ) | 433,539 | 2.70 | 1.24 | (1.39 | ) | 3.15 | 1.69 | 146 | 348 | ||||||||||||||||||||||||||||
10.27 | 0.00 | 528,478 | 2.59 | 1.25 | (0.45 | ) | 3.04 | 1.70 | 175 | 350 | |||||||||||||||||||||||||||||
10.27 | (3.73 | ) | 933,631 | 2.27 | 1.25 | 2.79 | 2.69 | 1.67 | 116 | — | |||||||||||||||||||||||||||||
11.31 | 5.59 | 1,852,145 | 2.44 | 1.25 | 3.55 | 2.85 | 1.66 | 96 | — | ||||||||||||||||||||||||||||||
11.04 | 5.36 | 1,457,434 | 2.35 | 1.25 | 2.71 | 2.77 | 1.67 | 121 | — |
FOR THE PERIODS INDICATED (continued)
| | Per share operating performance | | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment operations | Distributions | ||||||||||||||||||||||||||||||
| Net asset value, beginning of period | | Net investment income (loss) | | Net realized and unrealized gains (losses) on investments | | Total from investment operations | | Net investment income | | Net realized gain | | Total distributions | ||||||||||||||||||
Value Advantage Fund | |||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | $ | 12.01 | $ | 0.23 | (e) | $ | 3.17 | $ | 3.40 | $ | (0.19 | ) | $ | — | $ | (0.19 | ) | ||||||||||||||
Year Ended June 30, 2009 | 16.38 | 0.30 | (e) | (4.40 | ) | (4.10 | ) | (0.20 | ) | (0.07 | ) | (0.27 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 20.45 | 0.35 | (3.19 | ) | (2.84 | ) | (0.24 | ) | (0.99 | ) | (1.23 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 17.17 | 0.26 | (e) | 3.42 | 3.68 | (0.12 | ) | (0.28 | ) | (0.40 | ) | ||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 15.88 | 0.10 | (e) | 1.19 | 1.29 | — | — | — | |||||||||||||||||||||||
February 28, 2005 (g) through December 31, 2005 | 15.00 | 0.13 | (e) | 0.99 | 1.12 | (0.06 | ) | (0.18 | ) | (0.24 | ) | ||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 11.97 | 0.15 | (e) | 3.17 | 3.32 | (0.12 | ) | — | (0.12 | ) | |||||||||||||||||||||
Year Ended June 30, 2009 | 16.25 | 0.23 | (e) | (4.34 | ) | (4.11 | ) | (0.10 | ) | (0.07 | ) | (0.17 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 20.31 | 0.26 | (3.18 | ) | (2.92 | ) | (0.15 | ) | (0.99 | ) | (1.14 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 17.10 | 0.17 | (e) | 3.38 | 3.55 | (0.06 | ) | (0.28 | ) | (0.34 | ) | ||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 15.85 | 0.05 | (e) | 1.20 | 1.25 | — | — | — | |||||||||||||||||||||||
February 28, 2005 (g) through December 31, 2005 | 15.00 | 0.06 | (e) | 1.00 | 1.06 | (0.03 | ) | (0.18 | ) | (0.21 | ) | ||||||||||||||||||||
Institutional Class | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 12.01 | 0.31 | (e) | 3.18 | 3.49 | (0.26 | ) | — | (0.26 | ) | |||||||||||||||||||||
Year Ended June 30, 2009 | 16.40 | 0.37 | (e) | (4.42 | ) | (4.05 | ) | (0.27 | ) | (0.07 | ) | (0.34 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 20.47 | 0.44 | (3.19 | ) | (2.75 | ) | (0.33 | ) | (0.99 | ) | (1.32 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 17.16 | 0.39 | (e) | 3.38 | 3.77 | (0.18 | ) | (0.28 | ) | (0.46 | ) | ||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 15.83 | 0.25 | (e) | 1.08 | 1.33 | — | — | — | |||||||||||||||||||||||
February 28, 2005 (g) through December 31, 2005 | 15.00 | 0.11 | (e) | 0.99 | 1.10 | (0.09 | ) | (0.18 | ) | (0.27 | ) | ||||||||||||||||||||
Select Class | |||||||||||||||||||||||||||||||
Year Ended June 30, 2010 | 12.04 | 0.27 | (e) | 3.19 | 3.46 | (0.23 | ) | — | (0.23 | ) | |||||||||||||||||||||
Year Ended June 30, 2009 | 16.44 | 0.34 | (e) | (4.42 | ) | (4.08 | ) | (0.25 | ) | (0.07 | ) | (0.32 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 20.52 | 0.37 | (3.17 | ) | (2.80 | ) | (0.29 | ) | (0.99 | ) | (1.28 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 17.22 | 0.31 | (e) | 3.43 | 3.74 | (0.16 | ) | (0.28 | ) | (0.44 | ) | ||||||||||||||||||||
January 1, 2006 through June 30, 2006 (f) | 15.91 | 0.12 | (e) | 1.19 | 1.31 | — | — | — | |||||||||||||||||||||||
February 28, 2005 (g) through December 31, 2005 | 15.00 | 0.15 | (e) | 1.01 | 1.16 | (0.07 | ) | (0.18 | ) | (0.25 | ) |
(a) | Annualized for periods less than one year. |
(b) | Not annualized for periods less than one year. |
(c) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. |
(d) | Includes earnings credits and interest expense, each of which is less than 0.01%, if applicable or unless otherwise noted. |
(e) | Calculated based upon average shares outstanding. |
(f) | The Fund changed its fiscal year end from December 31 to June 30. |
(g) | Commencement of operations. |
| Ratios/Supplemental data | | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ratios to average net assets (a) | |||||||||||||||||||||||||||
Net asset value, end of period | | Total return (excludes sales charge) (b)(c) | | Net assets, end of period (000’s) | | Net expenses (d) | | Net investment income (loss) | | Expenses without waivers, reimbursements and earning credits | | Portfolio turnover rate (b) | |||||||||||||||
$15.22 | 28.35 | % | $ | 150,081 | 1.24 | % | 1.52 | % | 1.38 | % | 45 | % | |||||||||||||||
12.01 | (24.82 | ) | 112,739 | 1.25 | 2.45 | 1.50 | 70 | ||||||||||||||||||||
16.38 | (14.42 | ) | 152,696 | 1.25 | 1.87 | 1.43 | 103 | ||||||||||||||||||||
20.45 | 21.58 | 201,151 | 1.25 | 1.36 | 1.41 | 77 | |||||||||||||||||||||
17.17 | 8.12 | 77,691 | 1.25 | 1.16 | 1.67 | 55 | |||||||||||||||||||||
15.88 | 7.46 | 45,163 | 1.25 | 1.02 | 1.82 | 90 | |||||||||||||||||||||
15.17 | 27.72 | 108,165 | 1.74 | 1.01 | 1.88 | 45 | |||||||||||||||||||||
11.97 | (25.19 | ) | 97,723 | 1.75 | 1.86 | 1.99 | 70 | ||||||||||||||||||||
16.25 | (14.86 | ) | 182,093 | 1.75 | 1.36 | 1.93 | 103 | ||||||||||||||||||||
20.31 | 20.93 | 247,794 | 1.75 | 0.87 | 1.91 | 77 | |||||||||||||||||||||
17.10 | 7.89 | 83,777 | 1.75 | 0.64 | 2.17 | 55 | |||||||||||||||||||||
15.85 | 7.03 | 55,875 | 1.75 | 0.47 | 2.39 | 90 | |||||||||||||||||||||
15.24 | 29.03 | 156,531 | 0.74 | 2.04 | 0.98 | 45 | |||||||||||||||||||||
12.01 | (24.41 | ) | 70,825 | 0.75 | 3.11 | 1.15 | 70 | ||||||||||||||||||||
16.40 | (13.97 | ) | 19,872 | 0.75 | 2.37 | 1.03 | 103 | ||||||||||||||||||||
20.47 | 22.16 | 24,710 | 0.75 | 1.97 | 1.00 | 77 | |||||||||||||||||||||
17.16 | 8.40 | 773 | 0.75 | 3.03 | 1.25 | 55 | |||||||||||||||||||||
15.83 | 7.32 | 20 | 0.75 | 0.87 | 3.01 | 90 | |||||||||||||||||||||
15.27 | 28.70 | 71,209 | 0.99 | 1.77 | 1.13 | 45 | |||||||||||||||||||||
12.04 | (24.62 | ) | 51,000 | 1.00 | 2.75 | 1.25 | 70 | ||||||||||||||||||||
16.44 | (14.19 | ) | 49,262 | 1.00 | 2.18 | 1.18 | 103 | ||||||||||||||||||||
20.52 | 21.89 | 36,884 | 1.00 | 1.62 | 1.16 | 77 | |||||||||||||||||||||
17.22 | 8.23 | 5,275 | 1.00 | 1.42 | 1.42 | 55 | |||||||||||||||||||||
15.91 | 7.71 | 3,107 | 1.00 | 1.14 | 1.87 | 90 |
AS OF JUNE 30, 2010
| Classes Offered | | Trust | Diversified/ Non-Diversified | | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | Class A, Class B, Class C, Class R5 and Select Class | JPMMFIT | Diversified | |||||||||||
Mid Cap Equity Fund | Class A, Class C and Select Class | JPM I | Diversified | |||||||||||
Mid Cap Growth Fund | Class A, Class B, Class C, Class R2 and Select Class | JPM II | Diversified | |||||||||||
Mid Cap Value Fund | Class A, Class B, Class C, Class R2, Institutional Class and Select Class | JPMFMFG | Diversified | |||||||||||
Multi-Cap Market Neutral Fund | Class A, Class B, Class C, and Select Class | JPM II | Diversified | |||||||||||
Value Advantage Fund | Class A, Class C, Institutional Class and Select Class | JPM I | Diversified |
over-the-counter markets is normally completed before the close of the domestic market and may also take place on days when the domestic market is closed. In accordance with procedures adopted by the Board of Trustees, the Funds apply fair value pricing on equity securities on a daily basis except for North American, Central American, South American and Caribbean equity securities held in their portfolios by utilizing the quotations of an independent pricing service, unless a Fund’s advisor determines that use of another valuation methodology is appropriate. The pricing service uses statistical analyses and quantitative models to adjust local market prices using factors such as subsequent movement and changes in the prices of indices, securities and exchange rates in other markets, in determining fair value as of the time a Fund calculates its net asset values.
| Level 1 Quoted prices | | Level 2 Other significant observable inputs | | Level 3 Significant unobservable inputs | | Total | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Investments in Securities # | $ | 959,307 | $ | 11,084 | $ | — | $ | 970,391 |
| Level 1 Quoted prices | | Level 2 Other significant observable inputs | | Level 3 Significant unobservable inputs | | Total | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Investments in Securities ## | $ | 536,821 | $ | — | $ | — | $ | 536,821 |
| Level 1 Quoted prices | | Level 2 Other significant observable inputs | | Level 3 Significant unobservable inputs | | Total | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Investments in Securities ## | $ | 1,322,439 | $ | — | $ | — | $ | 1,322,439 |
| Level 1 Quoted prices | | Level 2 Other significant observable inputs | | Level 3 Significant unobservable inputs | | Total | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Investments in Securities ## | $ | 5,253,119 | $ | — | $ | — | $ | 5,253,119 |
| Level 1 Quoted prices | | Level 2 Other significant observable inputs | | Level 3 Significant unobservable inputs | | Total | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Investments in Securities ## | $ | 576,744 | $ | — | $ | — | $ | 576,744 | ||||||||||
Liabilities in Securities Sold Short ## | $ | 491,931 | $ | — | $ | — | $ | 491,931 |
AS OF JUNE 30, 2010 (continued)
| Level 1 Quoted prices | | Level 2 Other significant observable inputs | | Level 3 Significant unobservable inputs | | Total | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Investments in Securities # | $ | 484,333 | $ | 4,147 | $ | — | $ | 488,480 |
# | Portfolio holdings designated as Level 1 and Level 2 are disclosed individually in the Schedule of Portfolio Investments (“SOI”). Level 2 consists of an ADR. Please refer to the SOI for industry specifics of the portfolio holdings. |
## | All portfolio holdings designated as Level 1 are disclosed individually in the SOI. Please refer to the SOI for industry specifics of the portfolio holdings. |
| ||||||
---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 274 | ||||
Mid Cap Equity Fund | 101 | |||||
Mid Cap Growth Fund | 41 | |||||
Mid Cap Value Fund | 224 |
than 102% of the value of loaned securities. Under the securities lending agreement with JPMCB, at the inception of a loan, securities are exchanged for cash collateral equal to at least 102% of the value of loaned U.S. dollar-denominated securities, plus accrued interest, and 105% of the value of loaned non-dollar-denominated securities, plus accrued interest. The securities lending agreement with JPMCB requires that the loaned securities be marked to market on a daily basis and additional cash collateral is requested from borrowers when the cash received from borrowers becomes less than 102% and 105% of the value of loaned U.S. dollar denominated and non-dollar denominated securities, respectively, subject to certain de minimis guidelines.
| Value of Securities on Loan | | Cash Collateral Posted by Borrower | | Total Value of Collateral Investments | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 165,050 | $ | 170,889 | $ | 170,889 | ||||||||
Mid Cap Equity Fund | 80,741 | 83,284 | 83,284 | |||||||||||
Mid Cap Growth Fund | 42,802 | 44,629 | 46,515 | * | ||||||||||
Mid Cap Value Fund | 83,148 | 85,595 | 85,595 |
* | Differences in the Cash Collateral posted by Borrower and the Total Value of Collateral Investments are attributable to certain cash collateral being posted by or remitted to borrowers after the collateral had been invested in the Prime Money Market Fund on June 30, 2010. |
| ||||||
---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 144 | ||||
Mid Cap Equity Fund | 55 | |||||
Mid Cap Growth Fund | 24 | |||||
Mid Cap Value Fund | 110 |
| Lending Agent Fees Incurred | |||||
---|---|---|---|---|---|---|
Mid Cap Growth Fund | $ | 13 | ||||
Mid Cap Value Fund | 42 |
AS OF JUNE 30, 2010 (continued)
differ from the estimated amounts. The Funds adjust the estimated amounts of components of distributions (and consequently their net investment income) as necessary once the issuers provide information about the actual composition of the distributions.
| Paid-in-Capital | | Accumulated Undistributed/ (Overdistributed) Net Investment Income | | Accumulated Net Realized Gain (Loss) on Investments | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | $ | (30,138 | ) | $ | 1,454 | $ | 28,684 | |||||||
Mid Cap Equity Fund | — | (164 | ) | 164 | ||||||||||
Mid Cap Growth Fund | (6,373 | ) | 5,737 | 636 | ||||||||||
Mid Cap Value Fund | (7,919 | ) | (2,358 | ) | 10,277 | |||||||||
Multi-Cap Market Neutral Fund | (9,406 | ) | 9,581 | (175 | ) | |||||||||
Value Advantage Fund | — | (1,963 | ) | 1,963 |
| ||||||
---|---|---|---|---|---|---|
Growth Advantage Fund | 0.65 | % | ||||
Mid Cap Equity Fund | 0.65 | |||||
Mid Cap Growth Fund | 0.65 | |||||
Mid Cap Value Fund | 0.65 | |||||
Multi-Cap Market Neutral Fund | 1.25 | |||||
Value Advantage Fund | 0.65 |
assuming all rights and responsibilities of JPMIA with respect to the Funds under the Investment Advisory Agreement. The appointment of JPMIM did not change the portfolio management team, investment strategies, investment advisory fees charged to the Mid Cap Growth Fund and Multi-Cap Market Neutral Fund or the terms of the Investment Advisory Agreement (other than the identity of the advisor).
| Class A | | Class B | | Class C | | Class R2 | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | 0.25 | % | 0.75 | % | 0.75 | % | n/a | |||||||||||
Mid Cap Equity Fund | 0.25 | n/a | 0.75 | n/a | ||||||||||||||
Mid Cap Growth Fund | 0.25 | 0.75 | 0.75 | 0.50 | % | |||||||||||||
Mid Cap Value Fund | 0.25 | 0.75 | 0.75 | 0.50 | ||||||||||||||
Multi-Cap Market Neutral Fund | 0.25 | 0.75 | 0.75 | n/a | ||||||||||||||
Value Advantage Fund | 0.25 | n/a | 0.75 | n/a |
| Front-End Sales Charge | | CDSC | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 49 | $ | 13 | ||||||
Mid Cap Equity Fund | 1 | — | (a) | |||||||
Mid Cap Growth Fund | 21 | 45 | ||||||||
Mid Cap Value Fund | 65 | 157 | ||||||||
Multi-Cap Market Neutral Fund | 6 | 26 | ||||||||
Value Advantage Fund | 35 | 13 |
(a) | Amount rounds to less than $1,000. |
| Class A | | Class B | | Class C | | Class R2 | | Class R5 | | Institutional Class | | Select Class | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | 0.25 | % | 0.25 | % | 0.25 | % | n/a | 0.05 | % | n/a | 0.25 | % | ||||||||||||||||||
Mid Cap Equity Fund | 0.25 | n/a | 0.25 | n/a | n/a | n/a | 0.25 | |||||||||||||||||||||||
Mid Cap Growth Fund | 0.25 | 0.25 | 0.25 | 0.25 | % | n/a | n/a | 0.25 | ||||||||||||||||||||||
Mid Cap Value Fund | 0.25 | 0.25 | 0.25 | 0.25 | n/a | 0.10 | % | 0.25 | ||||||||||||||||||||||
Multi-Cap Market Neutral Fund | 0.25 | 0.25 | 0.25 | n/a | n/a | n/a | 0.25 | |||||||||||||||||||||||
Value Advantage Fund | 0.25 | n/a | 0.25 | n/a | n/a | 0.10 | 0.25 |
AS OF JUNE 30, 2010 (continued)
| Class A | | Class B | | Class C | | Class R2 | | Class R5 | | Institutional Class | | Select Class | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | 1.35 | % | 2.05 | % | 2.05 | % | n/a | 0.90 | % | n/a | 1.10 | % | ||||||||||||||||||
Mid Cap Equity Fund | 1.25 | n/a | 1.75 | n/a | n/a | n/a | 1.00 | |||||||||||||||||||||||
Mid Cap Growth Fund | 1.24 | 1.77 | 1.77 | 1.40 | % | n/a | n/a | 0.93 | ||||||||||||||||||||||
Mid Cap Value Fund | 1.24 | 1.75 | 1.75 | 1.50 | n/a | 0.75 | % | 0.99 | ||||||||||||||||||||||
Multi-Cap Market Neutral Fund | 1.75 | 2.50 | 2.50 | n/a | n/a | n/a | 1.50 | |||||||||||||||||||||||
Value Advantage Fund | 1.25 | n/a | 1.75 | n/a | n/a | 0.75 | 1.00 |
Contractual Waivers | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment Advisory | | Administration | | Shareholder Servicing | | Total | ||||||||||||
Mid Cap Equity Fund | $ | — | $ | 38 | $ | 736 | $ | 774 | |||||||||||
Mid Cap Growth Fund | 18 | 350 | 2,501 | 2,869 | |||||||||||||||
Mid Cap Value Fund | 4,763 | 2,749 | 2,120 | 9,632 | |||||||||||||||
Multi-Cap Market Neutral Fund | 2 | — | 1,069 | 1,071 | |||||||||||||||
Value Advantage Fund | 256 | 328 | 115 | 699 |
Voluntary Waivers | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment Advisory | | Administration | | Shareholder Servicing | | Total | ||||||||||||
Mid Cap Equity Fund | $ | — | $ | 40 | $ | 132 | $ | 172 | |||||||||||
Multi-Cap Market Neutral Fund | 885 | 299 | 346 | 1,530 |
| ||||||
---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 25 | ||||
Mid Cap Equity Fund | 21 | |||||
Mid Cap Growth Fund | 23 | |||||
Mid Cap Value Fund | 245 | |||||
Multi-Cap Market Neutral Fund | 62 | |||||
Value Advantage Fund | 27 |
| Purchases (excluding U.S. Government) | | Sales (excluding U.S. Government) | | Securities Sold Short | | Covers on Securities Sold Short | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 929,737 | $ | 768,366 | $ | — | $ | — | ||||||||||
Mid Cap Equity Fund | 399,529 | 185,702 | — | — | ||||||||||||||
Mid Cap Growth Fund | 1,088,841 | 1,253,467 | — | — | ||||||||||||||
Mid Cap Value Fund | 1,659,454 | 1,655,241 | — | — | ||||||||||||||
Multi-Cap Market Neutral Fund | 838,950 | 1,053,459 | 940,173 | 1,168,002 | ||||||||||||||
Value Advantage Fund | 250,805 | 189,327 | — | — |
| Aggregate Cost | | Gross Unrealized Appreciation | | Gross Unrealized Depreciation | | Net Unrealized Appreciation (Depreciation) | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 917,093 | $ | 89,357 | $ | 36,059 | $ | 53,298 | ||||||||||
Mid Cap Equity Fund | 522,171 | 38,761 | 24,111 | 14,650 | ||||||||||||||
Mid Cap Growth Fund | 1,208,273 | 197,373 | 83,207 | 114,166 | ||||||||||||||
Mid Cap Value Fund | 5,060,585 | 636,437 | 443,903 | 192,534 | ||||||||||||||
Multi-Cap Market Neutral Fund | 573,052 | 42,742 | 39,050 | 3,692 | ||||||||||||||
Value Advantage Fund | 459,211 | 50,453 | 21,184 | 29,269 |
AS OF JUNE 30, 2010 (continued)
Total Distributions Paid From: | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ordinary Income | | Net Long Term Capital Gains | | Total Distributions Paid | |||||||||
Mid Cap Equity Fund | $ | 1,930 | $ | — | $ | 1,930 | ||||||||
Mid Cap Value Fund | 1,948 | — | 1,948 | |||||||||||
Value Advantage Fund | 5,629 | — | 5,629 |
Total Distributions Paid From: | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ordinary Income | | Net Long Term Capital Gains | | Total Distributions Paid | |||||||||
Mid Cap Equity Fund | $ | 1,590 | $ | 10,014 | $ | 11,604 | ||||||||
Mid Cap Growth Fund | — | 15,786 | 15,786 | |||||||||||
Mid Cap Value Fund | 102,330 | 168,318 | 270,648 | |||||||||||
Value Advantage Fund | 4,240 | 1,797 | 6,037 |
| Current Distributable Ordinary Income | | Current Distributable Long Term Capital Gain or (Tax Basis Capital Loss Carryover) | | Unrealized Appreciation (Depreciation) | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | $ | — | $ | (126,922 | ) | $ | 53,298 | |||||||
Mid Cap Equity Fund | 307 | (32,940 | ) | 14,650 | ||||||||||
Mid Cap Growth Fund | — | (209,110 | ) | 114,166 | ||||||||||
Mid Cap Value Fund | 60,161 | (583,577 | ) | 192,534 | ||||||||||
Multi-Cap Market Neutral Fund | — | (100,670 | ) | 43,900 | ||||||||||
Value Advantage Fund | 5,355 | (78,283 | ) | 29,269 |
| 2011 | | 2015 | | 2016 | | 2017 | | 2018 | | Total | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage | $ | 2,527 | $ | — | $ | — | $ | 70,387 | $ | 54,008 | $ | 126,922 | ||||||||||||||
Mid Cap Equity Fund | — | — | — | 5,149 | 27,791 | 32,940 | ||||||||||||||||||||
Mid Cap Growth Fund | — | — | 47,301 | 39,210 | 122,599 | 209,110 | * | |||||||||||||||||||
Mid Cap Value Fund | — | — | — | 47,014 | 536,563 | 583,577 | * | |||||||||||||||||||
Multi-Cap Market Neutral Fund | — | 3,635 | 97,035 | — | — | 100,670 | ||||||||||||||||||||
Value Advantage Fund | — | — | — | 14,925 | 63,358 | 78,283 |
* | Amounts include capital loss carryforwards from business combinations, which may be limited in future years under Internal Revenue Code Sections 381-384. |
| ||||||
---|---|---|---|---|---|---|
Multi-Cap Market Neutral Fund | $ | 262 |
| ||||||
---|---|---|---|---|---|---|
Growth Advantage Fund | $ | 28,364 |
| Capital Losses | | Currency Losses | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | $ | — | $ | 3 | ||||||
Mid Cap Equity Fund | — | 1 | ||||||||
Mid Cap Growth Fund | — | 5 | ||||||||
Mid Cap Value Fund | 8,044 | — | ||||||||
Value Advantage Fund | 2,967 | — |
| J.P. Morgan Investor Funds | | JPMorgan SmartRetirement Fund | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Multi-Cap Market Neutral Fund | 66.3 | % | — | % | ||||||
Value Advantage Fund | — | 15.9 |
AS OF JUNE 30, 2010 (continued)
| Shares Outstanding | | Net Assets | | Net Asset Value Per Share | | Net Unrealized Appreciation (Depreciation) | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Target Fund | ||||||||||||||||||
Capital Growth Fund | $ | 15,500 | ||||||||||||||||
Class A | 10,926 | $ | 290,993 | $ | 26.6330 | |||||||||||||
Class B | 307 | 7,214 | 23.4989 | |||||||||||||||
Class C | 538 | 12,398 | 23.0386 | |||||||||||||||
Select Class | 11,808 | 339,484 | 28.7501 | |||||||||||||||
Class R2 | 2 | 53 | 26.6112 | |||||||||||||||
Acquiring Fund | ||||||||||||||||||
Mid Cap Growth Fund | $ | 1,104 | ||||||||||||||||
Class A | 16,679 | $ | 227,388 | $ | 13.6328 | |||||||||||||
Class B | 2,096 | 22,654 | 10.8089 | |||||||||||||||
Class C | 1,064 | 13,135 | 12.3447 | |||||||||||||||
Select Class | 19,916 | 289,090 | 14.5151 | |||||||||||||||
Class R2 | 2 | 30 | 14.5122 | |||||||||||||||
Post Reorganization | ||||||||||||||||||
Mid Cap Growth Fund | $ | 16,604 | ||||||||||||||||
Class A | 38,025 | $ | 518,381 | $ | 13.6328 | |||||||||||||
Class B | 2,763 | 29,868 | 10.8089 | |||||||||||||||
Class C | 2,068 | 25,533 | 12.3447 | |||||||||||||||
Select Class | 43,305 | 628,574 | 14.5151 | |||||||||||||||
Class R2 | 6 | 83 | 14.5122 | |||||||||||||||
Target Fund | ||||||||||||||||||
Diversified Mid Cap Value Fund | ($24,252 | ) | ||||||||||||||||
Class A | 14,037 | $ | 81,146 | $ | 5.7808 | |||||||||||||
Class B | 2,603 | 13,609 | 5.2288 | |||||||||||||||
Class C | 1,363 | 7,123 | 5.2240 | |||||||||||||||
Select Class | 10,088 | 57,919 | 5.7415 | |||||||||||||||
Acquiring Fund | ||||||||||||||||||
Mid Cap Value Fund | ($589,616 | ) | ||||||||||||||||
Class A | 99,682 | $ | 1,508,856 | $ | 15.1367 | |||||||||||||
Class B | 6,351 | 93,975 | 14.7964 | |||||||||||||||
Class C | 19,630 | 291,256 | 14.8376 | |||||||||||||||
Select Class | 46,134 | 702,849 | 15.2351 | |||||||||||||||
Institutional Class | 92,900 | 1,424,196 | 15.3304 | |||||||||||||||
Class R2 | 20 | 292 | 14.9562 | |||||||||||||||
Post Reorganization | ||||||||||||||||||
Mid Cap Value Fund | ($713,868 | ) | ||||||||||||||||
Class A | 105,043 | $ | 1,590,002 | $ | 15.1367 | |||||||||||||
Class B | 7,271 | 107,584 | 14.7964 | |||||||||||||||
Class C | 20,110 | 298,379 | 14.8376 | |||||||||||||||
Select Class | 49,935 | 760,768 | 15.2351 | |||||||||||||||
Institutional Class | 92,900 | 1,424,196 | 15.3304 | |||||||||||||||
Class R2 | 20 | 292 | 14.9562 |
AS OF JUNE 30, 2010 (continued)
| Value (000’s) | | Realized Gains/(Losses) (000’s) | | Type | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Institutional Class | $ | 47,173 | $ | (7,817 | ) | Redemption-In-Kind |
New York, New York
August 26, 2010
(Unaudited)
Name (Year of Birth); Positions With the Funds (1) | | Principal Occupations During Past 5 Years | | Number of Portfolios in Fund Complex Overseen by Trustee (2) | | Other Directorships Held Outside Fund Complex | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Independent Trustees | |||||||||||||||
William J. Armstrong (1941); Trustee of Trust since 2005; Trustee of heritage J.P. Morgan Funds since 1987. | Retired; CFO and Consultant, EduNeering, Inc. (internet business education supplier) (2000–2001); Vice President and Treasurer, Ingersoll–Rand Company (manufacturer of industrial equipment) (1972–2000). | 135 | None. | ||||||||||||
John F. Finn (1947); Trustee of Trust since 2005; Trustee of heritage One Group Mutual Funds since 1998. | Chairman (1985–present), President and Chief Executive Officer, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (1974–present). | 135 | Director, Cardinal Health, Inc. (CAH) (1994–present); Director, Greif, Inc. (GEF) (industrial package products and services) (2007–present). | ||||||||||||
Dr. Matthew Goldstein (1941); Trustee of Trust since 2005; Trustee of heritage J.P. Morgan Funds since 2003. | Chancellor, City University of New York (1999–present); President, Adelphi University (New York) (1998–1999). | 135 | Director, New Plan Excel (NXL) (1999–2005); Director, National Financial Partners (NFP) (2003–2005); Director, Bronx-Lebanon Hospital Center; Director, United Way of New York City (2002–present). | ||||||||||||
Robert J. Higgins (1945); Trustee of Trust since 2005; Trustee of heritage J.P. Morgan Funds since 2002. | Retired; Director of Administration of the State of Rhode Island (2003–2004); President — Consumer Banking and Investment Services, Fleet Boston Financial (1971–2001). | 135 | None. | ||||||||||||
Peter C. Marshall (1942); Trustee of Trust since 2005; Trustee of heritage One Group Mutual Funds since 1985. | Self-employed business consultant (2000–2008); Senior Vice President, W.D. Hoard, Inc. (corporate parent of DCI Marketing, Inc.) (2000–2002); President, DCI Marketing, Inc. (1992–2000). | 135 | Director, Center for Deaf and Hard of Hearing (1990–present). | ||||||||||||
Marilyn McCoy* (1948); Trustee of Trust since 2005; Trustee of heritage One Group Mutual Funds since 1999. | Vice President of Administration and Planning, Northwestern University (1985–present). | 135 | Trustee, Carleton College (2003–present). | ||||||||||||
William G. Morton, Jr. (1937); Trustee of Trust since 2005; Trustee of heritage J.P. Morgan Funds since 2003. | Retired; Chairman Emeritus (2001–2002), and Chairman and Chief Executive Officer, Boston Stock Exchange (1985–2001). | 135 | Director, Radio Shack Corp. (1987–2008); Trustee, Stratton Mountain School (2001–present). |
Name (Year of Birth); Positions With the Funds (1) | | Principal Occupations During Past 5 Years | | Number of Portfolios in Fund Complex Overseen by Trustee (2) | | Other Directorships Held Outside Fund Complex | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Independent Trustees (continued) | |||||||||||||||
Robert A. Oden, Jr. (1946); Trustee of Trust since 2005; Trustee of heritage One Group Mutual Funds since 1997. | President, Carleton College (2002–present); President, Kenyon College (1995–2002). | 135 | Trustee, American University in Cairo (1999–present); Trustee, Carleton College (2002–present). | ||||||||||||
Fergus Reid, III (1932); Trustee of Trust (Chairman) since 2005; Trustee (Chairman) of heritage J.P. Morgan Funds since 1987. | Chairman, Joe Pietryka, Inc. (formerly Lumelite Corporation) (plastics manufacturing) (2003–present); Chairman and Chief Executive Officer, Lumelite Corporation (1985–2002). | 135 | Trustee, Morgan Stanley Funds (165 portfolios) (1992–present). | ||||||||||||
Frederick W. Ruebeck (1939); Trustee of Trust since 2005; Trustee of heritage One Group Mutual Funds since 1994. | Consultant (2000–present); Advisor, JP Greene & Associates, LLC (broker-dealer) (2000–2009); Chief Investment Officer, Wabash College (2004–present); Director of Investments, Eli Lilly and Company (pharmaceuticals) (1988–1999). | 135 | Trustee, Wabash College (1988–present); Chairman, Indianapolis Symphony Orchestra Foundation (1994–present). | ||||||||||||
James J. Schonbachler (1943); Trustee of Trust since 2005; Trustee of heritage J.P. Morgan Funds since 2001. | Retired; Managing Director of Bankers Trust Company (financial services) (1968–1998). | 135 | None. | ||||||||||||
Interested Trustees | |||||||||||||||
Frankie D. Hughes** (1952), Trustee of Trust since 2008. | Principal and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993–present). | 135 | Trustee, The Victory Portfolios (2000–2008). | ||||||||||||
Leonard M. Spalding, Jr.*** (1935); Trustee of Trust since 2005; Trustee of heritage J.P. Morgan Funds since 1998. | Retired; Chief Executive Officer, Chase Mutual Funds (investment company) (1989–1998); President and Chief Executive Officer, Vista Capital Management (investment management) (1990–1998); Chief Investment Executive, Chase Manhattan Private Bank (investment management) (1990–1998). | 135 | Director, Glenview Trust Company, LLC (2001–present); Trustee, St. Catharine College (1998–present); Trustee, Bellarmine University (2000–present); Director, Springfield-Washington County Economic Development Authority (1997–present); Trustee, Catholic Education Foundation (2005–present). |
(1) | Each Trustee serves for an indefinite term, subject to the Trust’s current retirement policy, which is age 75 for all Trustees, except that the Board has determined Messrs. Reid and Spalding should continue to serve until December 31, 2012. |
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment advisor or have an investment advisor that is an affiliated person of the investment advisor of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes ten registered investment companies (135 funds). |
* | Ms. McCoy has served as Vice President of Administration and Planning for Northwestern University since 1985. William M. Daley, Head of Corporate Responsibility for JPMorgan Chase & Co., has served as a member of the Board of Trustees of Northwestern University since 2005. The Funds’ investment advisor is a wholly-owned subsidiary of JPMorgan Chase. |
** | Ms. Hughes is treated as an “interested person” based on the portfolio holdings of clients of Hughes Capital Management, Inc. |
*** | Mr. Spalding is treated as an “interested person” due to his ownership of JPMorgan Chase stock. |
(Unaudited)
Name (Year of Birth), Positions Held with the Trust (Since) | | Principal Occupations During Past 5 Years | ||||
---|---|---|---|---|---|---|
George C.W. Gatch (1962), President (2005) | Managing Director, J.P. Morgan Investment Management Inc.; CEO of the Investment Management Americas business of J.P. Morgan Asset Management since 2010; Director and President, JPMorgan Distribution Services, Inc. and JPMorgan Funds Management, Inc. since 2005. Mr. Gatch is CEO and President of the J.P. Morgan Funds. Mr. Gatch has been an employee of J.P. Morgan since 1986 and has held positions such as President and CEO of DKB Morgan, a Japanese mutual fund company, which was a joint venture between J.P. Morgan and Dai-Ichi Kangyo Bank, as well as positions in business management, marketing, and sales. | |||||
Robert L. Young (1963), Senior Vice President (2005)* | Director and Vice President, JPMorgan Distribution Services, Inc. and JPMorgan Funds Management, Inc.; Chief Operating Officer, J.P. Morgan Funds since 2005, and One Group Mutual Funds from 2001 until 2005. Mr. Young was Vice President and Treasurer, JPMorgan Funds Management, Inc. (formerly One Group Administrative Services), and Vice President and Treasurer, JPMorgan Distribution Services, Inc. (formerly One Group Dealer Services, Inc.) from 1999 to 2005. | |||||
Patricia A. Maleski (1960), Vice President and Chief Administrative Officer (2005), Treasurer and Principal Financial Officer (2008) | Managing Director, JPMorgan Funds Management, Inc.; Head of Funds Administration and Board Liaison, J.P. Morgan Funds. Ms. Maleski has been with JPMorgan Chase & Co. since 2001. | |||||
Frank J. Nasta (1964), Secretary (2008) | Managing Director and Associate General Counsel, JPMorgan Chase since 2008; Previously, Director, Managing Director, General Counsel and Corporate Secretary, J. & W. Seligman & Co. Incorporated; Secretary of each of the investment companies of the Seligman Group of Funds and Seligman Data Corp.; Director and Corporate Secretary, Seligman Advisors, Inc. and Seligman Services, Inc. | |||||
Stephen M. Ungerman (1953), Chief Compliance Officer (2005) | Managing Director, JPMorgan Chase & Co.; Mr. Ungerman was head of Fund Administration — Pooled Vehicles from 2000 to 2004. Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. | |||||
Paul L. Gulinello (1950), AML Compliance Officer (2005) | Vice President and Anti Money Laundering Compliance Officer for JPMorgan Asset Management Americas, additionally responsible for personal trading and compliance testing since 2004; Treasury Services Operating Risk Management and Compliance Executive supporting all JPMorgan Treasury Services business units from July 2000 to 2004. | |||||
Michael J. Tansley (1964), Controller (2008) | Vice President, JPMorgan Funds Management, Inc. since July 2008; prior to joining JPMorgan Chase, Mr. Tansley worked for General Electric, as Global eFinance Leader in GE Money from 2004 through 2008 and Vice President and Controller of GE Asset Management from 1998. | |||||
Elizabeth A. Davin (1964), Assistant Secretary (2005)* | Vice President and Assistant General Counsel, JPMorgan Chase since 2005; Senior Counsel, JPMorgan Chase (formerly Bank One Corporation) from 2004 to 2005; Assistant General Counsel and Associate General Counsel and Vice President, Gartmore Global Investments, Inc. from 1999 to 2004. | |||||
Jessica K. Ditullio (1962), Assistant Secretary (2005)* | Vice President and Assistant General Counsel, JPMorgan Chase since 2005; Ms. Ditullio has served as an attorney with various titles for JPMorgan Chase (formerly Bank One Corporation) since 1990. | |||||
John T. Fitzgerald (1975), Assistant Secretary (2008) | Vice President and Assistant General Counsel, JPMorgan Chase since 2005; Associate, Willkie Farr & Gallagher LLP (law firm) from 2002 to 2005. | |||||
Gregory S. Samuels (1980) Assistant Secretary (2010) | Vice President and Assistant General Counsel, JPMorgan Chase since 2010; Associate, Ropes & Gray (law firm) from 2008 to 2010; Associate, Clifford Chance LLP (law firm) from 2005 to 2008. | |||||
Brian L. Duncan (1965), Assistant Treasurer (2008)* | Vice President, JPMorgan Funds Management, Inc. since June 2007; prior to joining JPMorgan Chase, Mr. Duncan worked for Penn Treaty American Corporation as Vice President and Controller from 2004 through 2007 and Assistant Vice President of Financial Reporting from 2003–2004. | |||||
Joy C. Dowd (1972), Assistant Treasurer (2009) | Vice President, JPMorgan Funds Management, Inc. since December 2008; prior to joining JPMorgan Chase, Ms. Dowd worked in MetLife’s investments audit group from 2005 through 2008, and Vice President of Credit Suisse, in the audit area from 1999 through 2005. | |||||
Jeffrey D. House (1972), Assistant Treasurer (2006)* | Vice President, JPMorgan Funds Management, Inc. since July 2006; formerly, Senior Manager of Financial Services of BISYS Fund Services, Inc. from December 1995 until July 2006. | |||||
Laura S. Melman (1966), Assistant Treasurer (2006) | Vice President, JPMorgan Funds Management, Inc. since August, 2006, responsible for Taxation; Vice President of Structured Products at The Bank of New York Co., Inc. from 2001 until 2006. | |||||
Francesco Tango (1971), Assistant Treasurer (2007) | Vice President, JPMorgan Funds Management, Inc. since January 2003: Associate, JPMorgan Funds Management, Inc. since 1999. |
* | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
(Unaudited)
| Beginning Account Value, January 1, 2010 | | Ending Account Value, June 30, 2010 | | Expenses Paid During January 1, 2010 to June 30, 2010* | | Annualized Expense Ratio | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth Advantage Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 938.90 | $ | 6.30 | 1.31 | % | ||||||||||
Hypothetical | 1,000.00 | 1,018.30 | 6.56 | 1.31 | ||||||||||||||
Class B | ||||||||||||||||||
Actual | 1,000.00 | 937.60 | 8.70 | 1.81 | ||||||||||||||
Hypothetical | 1,000.00 | 1,015.82 | 9.05 | 1.81 | ||||||||||||||
Class C | ||||||||||||||||||
Actual | 1,000.00 | 936.20 | 8.69 | 1.81 | ||||||||||||||
Hypothetical | 1,000.00 | 1,015.82 | 9.05 | 1.81 | ||||||||||||||
Class R5 | ||||||||||||||||||
Actual | 1,000.00 | 942.30 | 4.14 | 0.86 | ||||||||||||||
Hypothetical | 1,000.00 | 1,020.53 | 4.31 | 0.86 | ||||||||||||||
Select Class | ||||||||||||||||||
Actual | 1,000.00 | 939.50 | 5.10 | 1.06 | ||||||||||||||
Hypothetical | 1,000.00 | 1,019.54 | 5.31 | 1.06 |
(Unaudited) (continued)
| Beginning Account Value, January 1, 2010 | | Ending Account Value, June 30, 2010 | | Expenses Paid During January 1, 2010 to June 30, 2010* | | Annualized Expense Ratio | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mid Cap Equity Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 973.10 | $ | 6.07 | 1.24 | % | ||||||||||
Hypothetical | 1,000.00 | 1,018.65 | 6.21 | 1.24 | ||||||||||||||
Class C | ||||||||||||||||||
Actual | 1,000.00 | 970.40 | 8.50 | 1.74 | ||||||||||||||
Hypothetical | 1,000.00 | 1,016.17 | 8.70 | 1.74 | ||||||||||||||
Select Class | ||||||||||||||||||
Actual | 1,000.00 | 974.70 | 4.36 | 0.89 | ||||||||||||||
Hypothetical | 1,000.00 | 1,020.38 | 4.46 | 0.89 | ||||||||||||||
Mid Cap Growth Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
Actual | 1,000.00 | 951.70 | 6.00 | 1.24 | ||||||||||||||
Hypothetical | 1,000.00 | 1,018.65 | 6.21 | 1.24 | ||||||||||||||
Class B | ||||||||||||||||||
Actual | 1,000.00 | 949.90 | 8.56 | 1.77 | ||||||||||||||
Hypothetical | 1,000.00 | 1,016.02 | 8.85 | 1.77 | ||||||||||||||
Class C | ||||||||||||||||||
Actual | 1,000.00 | 949.70 | 8.56 | 1.77 | ||||||||||||||
Hypothetical | 1,000.00 | 1,016.02 | 8.85 | 1.77 | ||||||||||||||
Class R2 | ||||||||||||||||||
Actual | 1,000.00 | 950.80 | 6.77 | 1.40 | ||||||||||||||
Hypothetical | 1,000.00 | 1,017.85 | 7.00 | 1.40 | ||||||||||||||
Select Class | ||||||||||||||||||
Actual | 1,000.00 | 953.60 | 4.50 | 0.93 | ||||||||||||||
Hypothetical | 1,000.00 | 1,020.18 | 4.66 | 0.93 | ||||||||||||||
Mid Cap Value Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
Actual | 1,000.00 | 995.80 | 6.14 | 1.24 | ||||||||||||||
Hypothetical | 1,000.00 | 1,018.65 | 6.21 | 1.24 | ||||||||||||||
Class B | ||||||||||||||||||
Actual | 1,000.00 | 993.00 | 8.65 | 1.75 | ||||||||||||||
Hypothetical | 1,000.00 | 1,016.12 | 8.75 | 1.75 | ||||||||||||||
Class C | ||||||||||||||||||
Actual | 1,000.00 | 993.50 | 8.65 | 1.75 | ||||||||||||||
Hypothetical | 1,000.00 | 1,016.12 | 8.75 | 1.75 | ||||||||||||||
Class R2 | ||||||||||||||||||
Actual | 1,000.00 | 994.70 | 7.37 | 1.49 | ||||||||||||||
Hypothetical | 1,000.00 | 1,017.41 | 7.45 | 1.49 | ||||||||||||||
Institutional Class | ||||||||||||||||||
Actual | 1,000.00 | 997.90 | 3.67 | 0.74 | ||||||||||||||
Hypothetical | 1,000.00 | 1,012.12 | 3.71 | 0.74 | ||||||||||||||
Select Class | ||||||||||||||||||
Actual | 1,000.00 | 996.90 | 4.85 | 0.98 | ||||||||||||||
Hypothetical | 1,000.00 | 1,019.93 | 4.91 | 0.98 |
| Beginning Account Value, January 1, 2010 | | Ending Account Value, June 30, 2010 | | Expenses Paid During January 1, 2010 to June 30, 2010* | | Annualized Expense Ratio | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Multi-Cap Market Neutral Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
Actual | $ | 1,000.00 | $ | 967.10 | $ | 14.05 | 2.88 | % | ||||||||||
Hypothetical | 1,000.00 | 1,010.51 | 14.36 | 2.88 | ||||||||||||||
Class B | ||||||||||||||||||
Actual | 1,000.00 | 963.30 | 17.62 | 3.62 | ||||||||||||||
Hypothetical | 1,000.00 | 1,006.84 | 18.01 | 3.62 | ||||||||||||||
Class C | ||||||||||||||||||
Actual | 1,000.00 | 964.30 | 17.63 | 3.62 | ||||||||||||||
Hypothetical | 1,000.00 | 1,006.84 | 18.01 | 3.62 | ||||||||||||||
Select Class | ||||||||||||||||||
Actual | 1,000.00 | 968.30 | 12.84 | 2.63 | ||||||||||||||
Hypothetical | 1,000.00 | 1,011.75 | 13.12 | 2.63 | ||||||||||||||
Value Advantage Fund | ||||||||||||||||||
Class A | ||||||||||||||||||
Actual | 1,000.00 | 996.10 | 6.14 | 1.24 | ||||||||||||||
Hypothetical | 1,000.00 | 1,018.65 | 6.21 | 1.24 | ||||||||||||||
Class C | ||||||||||||||||||
Actual | 1,000.00 | 993.50 | 8.60 | 1.74 | ||||||||||||||
Hypothetical | 1,000.00 | 1,016.17 | 8.70 | 1.74 | ||||||||||||||
Institutional Class | ||||||||||||||||||
Actual | 1,000.00 | 998.70 | 3.67 | 0.74 | ||||||||||||||
Hypothetical | 1,000.00 | 1,021.12 | 3.71 | 0.74 | ||||||||||||||
Select Class | ||||||||||||||||||
Actual | 1,000.00 | 998.00 | 4.90 | 0.99 | ||||||||||||||
Hypothetical | 1,000.00 | 1,019.89 | 4.96 | 0.99 |
* | Expenses are equal to the Funds’ annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period). |
(Unaudited)
| Dividends Received Deduction | |||||
---|---|---|---|---|---|---|
Mid Cap Equity Fund | 100.00 | % | ||||
Mid Cap Value Fund | 100.00 | |||||
Value Advantage Fund | 97.96 |
| Qualified Dividend Income | |||||
---|---|---|---|---|---|---|
Mid Cap Equity Fund | $ | 1,930 | ||||
Mid Cap Value Fund | 1,948 | |||||
Value Advantage Fund | 5,629 |
(Unaudited)
• | We get information from you on applications or other forms, on our website, or through other means. |
We get information from transactions, correspondence, or other communications with us. |
• | We keep information under physical, electronic and procedural controls that comply with or exceed governmental standards. |
• | We authorize our employees, agents and contractors to get information about you only when they need it to do their work for us. |
• | We require companies working for us to protect information. They agree to use it only to provide the services we ask them to perform for us. |
• | To protect against fraud. |
• | To protect against practices that may harm J.P. Morgan Funds or its shareholders. |
• | To respond to a subpoena. |
With regulatory authorities and law enforcement officials who have jurisdiction over us. |
• | To service your account. |
• | With your consent. |
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© JPMorgan Chase & Co., 2010 All rights reserved. June 2010. | AN-MC-610 |
---|
ITEM 2. CODE OF ETHICS.
Disclose whether, as of the end of the period covered by the report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, explain why it has not done so.
The registrant must briefly describe the nature of any amendment, during the period covered by the report, to a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item. The registrant must file a copy of any such amendment as an exhibit pursuant to Item 12(a)(1), unless the registrant has elected to satisfy paragraph (f) of this Item by positing its code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by undertaking to provide its code of ethics to any person without charge, upon request, pursuant to paragraph (f)(3) of this Item.
If the registrant has, during the period covered by the report, granted a waiver, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or third party, that relates to one or more items set forth in paragraph (b) of this Item, the registrant must briefly describe the nature of the waiver, the name of the person to whom the waiver was granted, and the date of the waiver.
The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer and principal financial officer. There were no amendments to the code of ethics or waivers granted with respect to the code of ethics in the period covered by the report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
(a) (1) Disclose that the registrant’s board of directors has determined that the registrant either:
| (i) Has at least one audit committee financial expert serving on its audit committee; or |
(ii) Does not have an audit committee financial expert serving on its audit committee.
The Registrant’s Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its audit committee. The Securities and Exchange Commission has stated that the designation or identification of a person as an audit committee financial expert pursuant to this Item 3 of Form N-CSR does not impose on such person any duties, obligations or liabilities that are greater than the duties, obligations and liabilities imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.
(2) If the registrant provides the disclosure required by paragraph (a)(1)(i) of this Item, it must disclose the name of the audit committee financial expert and whether that person is “independent.” In order to be considered “independent” for purposes of this Item, a member of an audit committee may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee:
(i) Accept directly or indirectly any consulting, advisory, or other compensatory fee from the issuer; or
(ii) Be an “interested person” of the investment company as defined in Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).
The audit committee financial expert is William Armstrong. He is not an “interested person” of the Registrant and is also “independent” as defined by the U.S. Securities and Exchange Commission for purposes of audit committee financial expert determinations.
(3) If the registrant provides the disclosure required by paragraph (a)(1)(ii) of this Item, it must explain why it does not have an audit committee financial expert.
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Disclose, under the caption Audit Fees, the aggregate fees billed for each of the last two fiscal years for professional
services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
AUDIT FEES
2010 – $30,500
| 2009 – $30,900* |
* Audit fees reported in 2009 Form N-CSR filing also included audit-related fees.
(b) Disclose, under the caption Audit-Related Fees, the aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
AUDIT-RELATED FEES (On a calendar year basis)
| 2010 – $11,800 |
| 2009 – $11,800 |
The audit-related fees consist of aggregate fees billed for assurance and related services by the independent registered public accounting firm to the Registrant that were reasonably related to the performance of the annual audit of the Registrant's financial statements.
(c) Disclose, under the caption Tax Fees, the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
TAX FEES
| 2010 – $8,100 |
| 2009 – $8,120 |
The tax fees consist of fees billed in connection with preparing the federal regulated investment company income tax returns for the Registrant for the tax years ended June 30, 2010 and 2009, respectively.
For the last fiscal year, no tax fees were required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X.
(d) Disclose, under the caption All Other Fees, the aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
ALL OTHER FEES
| 2010 – Not applicable |
2009 – Not applicable
(e) (1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
Pursuant to the Registrant’s Audit Committee Charter and written policies and procedures for the pre-approval of audit and non-audit services (the “Pre-approval Policy”), the Audit Committee pre-approves all audit and non-audit services performed by the Registrant’s independent public registered accounting firm for the Registrant. In addition, the Audit Committee pre-approves the auditor’s engagement for non-audit services with the Registrant’s investment adviser (not including a sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser) and any Service Affiliate in accordance with paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, if the engagement relates directly to the operations and financial reporting of the Registrant. Proposed services may be pre-approved either 1) without consideration of specific case-by-case services or 2) require the specific pre-approval of the Audit Committee. Therefore, initially the Pre-approval Policy listed a number of audit and non-audit services that have been approved by the Audit Committee, or which were not subject to pre-approval under the transition provisions of
Sarbanes-Oxley Act of 2002 (the “Pre-approval List”). The Audit Committee annually reviews and pre-approves the services included on the Pre-approval List that may be provided by the independent public registered accounting firm without obtaining additional specific pre-approval of individual services from the Audit Committee. The Audit Committee adds to, or subtracts from, the list of general pre-approved services from time to time, based on subsequent determinations. All other audit and non-audit services not on the Pre-approval List must be specifically pre-approved by the Audit Committee.
One or more members of the Audit Committee may be appointed as the Committee’s delegate for the purposes of considering whether to approve such services. Any pre-approvals granted by the delegate will be reported, for informational purposes only, to the Audit Committee at its next scheduled meeting. The Audit Committee’s responsibilities to pre-approve services performed by the independent public registered accounting firm are not delegated to management.
(2) Disclose the percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
2010 – 0.0%
2009 – 0.0%
(f) If greater than 50 percent, disclose the percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
None.
(g) Disclose the aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant.
The aggregate non-audit fees billed by the independent registered public accounting firm for services rendered to the Registrant for the last two calendar year ends were:
| 2009 - $24.7 million |
| 2008 - $25.5 million |
These amounts also include the aggregate non audit fees billed by the Independent Registered Public Accounting firm for services rendered to J.P. Morgan Chase & Co. (“JPMC”) and certain related entities.
(h) Disclose whether the registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any subadviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
The Registrant’s Audit Committee has considered whether the provision of the non-audit services that were rendered to Service Affiliates that were not pre-approved (not requiring pre-approval) is compatible with maintaining the independent public registered accounting firm’s independence. All services provided by the independent public registered accounting firm to the Registrant or to Service Affiliates that were required to be pre-approved were pre-approved as required.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
(a) If the registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act (17CFR 240.10A-3), state whether or not the registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)). If the registrant has such a committee, however designated, identify each committee member. If the entire board of directors is acting as the registrant’s audit committee as specified in Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)), so state.
(b) If applicable, provide the disclosure required by Rule 10A-3(d) under the Exchange Act (17CFR 240.10A-3(d)) regarding an exemption from the listing standards for all audit committees.
Not applicable.
ITEM 6. SCHEDULE OF INVESTMENTS.
File Schedule I – Investments in securities of unaffiliated issuers as of the close of the reporting period as set forth in Section 210.12-12 of Regulation S-X, unless the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
Included in Item 1.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
A closed-end management investment company that is filing an annual report on this Form N-CSR must, unless it invests exclusively in non-voting securities, describe the policies and procedures that it uses to determine how to vote proxies relating to portfolio securities, including the procedures that the company uses when a vote presents a conflict between the interests of its shareholders, on the one hand, and those of the company’s investment adviser; principal underwriter; or any affiliated person (as defined in Section 2(a)(3) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules thereunder) of the company, its investment adviser, or its principal underwriter, on the other. Include any policies and procedures of the company’s investment adviser, or any other third party, that the company uses, or that are used on the company’s behalf, to determine how to vote proxies relating to portfolio securities.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
(a) If the registrant is a closed-end management investment company, provide the information specified in paragraph (b) of this Item with respect to any purchase made by or on behalf of the registrant or any "affiliated purchaser," as defined in Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of shares or other units of any class of the registrant's equity securities that is registered by the registrant pursuant to Section 12 of the Exchange Act (15 U.S.C. 781).
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Describe any material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 7(d)(2)(ii)(G) of Schedule 14A (17 CFR 240.14a-101), or this Item.
No material changes to report.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant’s principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be
disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) Disclose any change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant's second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
There were no changes in the Registrant's internal control over financial reporting that occurred during the last fiscal quarter covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
ITEM 12. EXHIBITS.
(a) File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit.
Code of Ethics applicable to its Principal Executive and Principal Financial Officers pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 attached hereto.
(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2).
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 are attached hereto.
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.
Not applicable.
(b) A separate or combined certification for each principal executive officer and principal officer of the registrant as required by Rule 30a-2(b) under the Act of 1940.
Certifications pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
J.P. Morgan Fleming Mutual Fund Group, Inc.
By: | /s/_____________________________ |
Patricia A. Maleski
President and Principal Executive Officer
September 3, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/___________________________ |
Patricia A. Maleski
President and Principal Executive Officer
September 3, 2010
By: | /s/____________________________ |
Joy C. Dowd
Treasurer and Principal Financial Officer
September 3, 2010