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)
277 Park Avenue
New York, NY 10172
(Address of principal executive offices) (Zip code)
Gregory S. Samuels
277 Park Avenue
New York, NY 10172
(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, 2021 through June 30, 2022
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.
a.) 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).
b.) A copy of the notice transmitted to shareholders in reliance on Rule 30e-3 under the 1940 Act that contains disclosures specified by paragraph (c)(3) of that rule is included in the Annual Reports. Not Applicable. Notices do not incorporate disclosures from the
shareholder report.
JPMorgan Growth Advantage Fund |
JPMorgan Mid Cap Equity Fund |
JPMorgan Mid Cap Growth Fund |
JPMorgan Mid Cap Value Fund |
JPMorgan Value Advantage Fund |
1 | |
2 | |
3 | |
5 | |
7 | |
9 | |
11 | |
13 | |
29 | |
50 | |
68 | |
81 | |
82 | |
86 | |
88 | |
91 | |
92 | |
Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets.
Prospective investors should refer to the Funds’ prospectuses for a discussion of the Funds’ investment objectives, strategies and risks. Call J.P. Morgan Funds Service Center at 1-800-480-4111 for a prospectus containing more complete information about a Fund, including management fees and other expenses. Please read it carefully before investing.
August 8, 2022 (Unaudited)
“It remains essential, in our view, that investors consider the potential benefits of portfolio diversification that adapts to near-term market conditions while cultivating long-term opportunities.” — Andrea L. Lisher |
Head of Americas, Client
J.P. Morgan Asset Management
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 1 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
2 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class A Shares, without a sales charge) * | (22.53)% |
Russell 3000 Growth Index | (19.78)% |
Net Assets as of 6/30/2022 (In Thousands) | $12,081,317 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 8.4% |
2. | Apple, Inc. | 7.9 |
3. | Alphabet, Inc., Class C | 5.2 |
4. | Amazon.com, Inc. | 4.0 |
5. | Tesla, Inc. | 4.0 |
6. | UnitedHealth Group, Inc. | 3.0 |
7. | Mastercard, Inc., Class A | 2.9 |
8. | Quanta Services, Inc. | 1.9 |
9. | EOG Resources, Inc. | 1.5 |
10. | Regeneron Pharmaceuticals, Inc. | 1.4 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 38.4% |
Health Care | 16.3 |
Consumer Discretionary | 15.0 |
Industrials | 8.9 |
Financials | 6.7 |
Communication Services | 6.2 |
Energy | 2.6 |
Consumer Staples | 2.2 |
Materials | 0.6 |
Short-Term Investments | 3.1 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 3 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | October 29, 1999 | |||
With Sales Charge * | (26.61)% | 13.90% | 15.19% | |
Without Sales Charge | (22.53) | 15.13 | 15.82 | |
CLASS C SHARES | May 1, 2006 | |||
With CDSC ** | (23.90) | 14.55 | 15.36 | |
Without CDSC | (22.90) | 14.55 | 15.36 | |
Class I SHARES | May 1, 2006 | (22.33) | 15.42 | 16.08 |
Class R2 SHARES | July 31, 2017 | (22.71) | 14.83 | 15.53 |
Class R3 SHARES | May 31, 2017 | (22.54) | 15.13 | 15.82 |
Class R4 SHARES | May 31, 2017 | (22.32) | 15.42 | 16.11 |
Class R5 SHARES | January 8, 2009 | (22.18) | 15.59 | 16.28 |
Class R6 SHARES | December 23, 2013 | (22.11) | 15.71 | 16.39 |
* | 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. |
4 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (16.37)% |
Russell Midcap Index | (17.30)% |
Net Assets as of 6/30/2022 (In Thousands) | $2,629,388 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | AutoZone, Inc. | 1.4% |
2. | M&T Bank Corp. | 1.3 |
3. | Xcel Energy, Inc. | 1.2 |
4. | WEC Energy Group, Inc. | 1.1 |
5. | CMS Energy Corp. | 1.1 |
6. | Motorola Solutions, Inc. | 1.1 |
7. | Laboratory Corp. of America Holdings | 1.1 |
8. | Loews Corp. | 1.1 |
9. | AmerisourceBergen Corp. | 1.0 |
10. | AMETEK, Inc. | 1.0 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Financials | 18.3% |
Information Technology | 14.7 |
Industrials | 13.3 |
Health Care | 13.0 |
Consumer Discretionary | 10.8 |
Real Estate | 7.3 |
Utilities | 5.8 |
Consumer Staples | 3.5 |
Communication Services | 3.4 |
Materials | 3.2 |
Energy | 2.7 |
Short-Term Investments | 4.0 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 5 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | November 2, 2009 | |||
With Sales Charge * | (20.95)% | 8.01% | 11.12% | |
Without Sales Charge | (16.57) | 9.18 | 11.73 | |
CLASS C SHARES | November 2, 2009 | |||
With CDSC ** | (17.99) | 8.64 | 11.28 | |
Without CDSC | (16.99) | 8.64 | 11.28 | |
Class I SHARES | January 1, 1997 | (16.37) | 9.46 | 12.07 |
Class R2 SHARES | March 14, 2014 | (16.79) | 8.91 | 11.50 |
Class R5 SHARES | March 14, 2014 | (16.24) | 9.62 | 12.19 |
Class R6 SHARES | March 14, 2014 | (16.17) | 9.72 | 12.26 |
* | 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. |
6 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | (28.61)% |
Russell Midcap Growth Index | (29.57)% |
Net Assets as of 6/30/2022 (In Thousands) | $6,979,899 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Synopsys, Inc. | 2.0% |
2. | Quanta Services, Inc. | 1.9 |
3. | Copart, Inc. | 1.9 |
4. | Centene Corp. | 1.8 |
5. | Hilton Worldwide Holdings, Inc. | 1.7 |
6. | Chipotle Mexican Grill, Inc. | 1.7 |
7. | SolarEdge Technologies, Inc. | 1.6 |
8. | Crowdstrike Holdings, Inc., Class A | 1.6 |
9. | LPL Financial Holdings, Inc. | 1.6 |
10. | Cheniere Energy, Inc. | 1.6 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 27.4% |
Health Care | 23.3 |
Industrials | 14.3 |
Consumer Discretionary | 12.1 |
Financials | 10.4 |
Energy | 3.2 |
Communication Services | 2.8 |
Consumer Staples | 1.4 |
Materials | 0.5 |
Short-Term Investments | 4.6 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 7 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 18, 1992 | |||
With Sales Charge * | (32.53)% | 9.74% | 12.21% | |
Without Sales Charge | (28.79) | 10.93 | 12.82 | |
CLASS C SHARES | November 4, 1997 | |||
With CDSC ** | (30.14) | 10.38 | 12.37 | |
Without CDSC | (29.14) | 10.38 | 12.37 | |
Class I SHARES | March 2, 1989 | (28.61) | 11.26 | 13.16 |
Class R2 SHARES | June 19, 2009 | (29.00) | 10.65 | 12.58 |
Class R3 SHARES | September 9, 2016 | (28.82) | 10.92 | 12.82 |
Class R4 SHARES | September 9, 2016 | (28.63) | 11.20 | 13.10 |
Class R5 SHARES | November 1, 2011 | (28.53) | 11.41 | 13.32 |
Class R6 SHARES | November 1, 2011 | (28.46) | 11.48 | 13.38 |
* | 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. |
8 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class L Shares) * | (7.35)% |
Russell Midcap Value Index | (10.00)% |
Net Assets as of 6/30/2022 (In Thousands) | $13,808,353 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | M&T Bank Corp. | 2.0% |
2. | Xcel Energy, Inc. | 1.9 |
3. | WEC Energy Group, Inc. | 1.8 |
4. | CMS Energy Corp. | 1.7 |
5. | Motorola Solutions, Inc. | 1.7 |
6. | Laboratory Corp. of America Holdings | 1.7 |
7. | Loews Corp. | 1.7 |
8. | AutoZone, Inc. | 1.6 |
9. | AmerisourceBergen Corp. | 1.6 |
10. | Huntington Bancshares, Inc. | 1.5 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Financials | 22.8% |
Industrials | 12.6 |
Real Estate | 11.4 |
Consumer Discretionary | 10.1 |
Utilities | 9.0 |
Information Technology | 7.5 |
Health Care | 7.3 |
Materials | 4.8 |
Consumer Staples | 4.6 |
Communication Services | 3.7 |
Energy | 2.4 |
Short-Term Investments | 3.8 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 9 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | April 30, 2001 | |||
With Sales Charge * | (12.57)% | 4.63% | 9.21% | |
Without Sales Charge | (7.73) | 5.77 | 9.80 | |
CLASS C SHARES | April 30, 2001 | |||
With CDSC ** | (9.17) | 5.24 | 9.35 | |
Without CDSC | (8.17) | 5.24 | 9.35 | |
Class I SHARES | October 31, 2001 | (7.50) | 6.03 | 10.07 |
Class L SHARES | November 13, 1997 | (7.35) | 6.26 | 10.33 |
Class R2 SHARES | November 3, 2008 | (7.97) | 5.49 | 9.51 |
Class R3 SHARES | September 9, 2016 | (7.75) | 5.76 | 9.80 |
Class R4 SHARES | September 9, 2016 | (7.50) | 6.03 | 10.07 |
Class R5 SHARES | September 9, 2016 | (7.35) | 6.19 | 10.28 |
Class R6 SHARES | September 9, 2016 | (7.26) | 6.29 | 10.35 |
* | 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. |
10 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited)
REPORTING PERIOD RETURN: | |
Fund (Class L Shares) * | (3.39)% |
Russell 3000 Value Index | (7.46)% |
Net Assets as of 6/30/2022 (In Thousands) | $9,576,134 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS | |
1. | Bank of America Corp. | 3.0% |
2. | Berkshire Hathaway, Inc., Class B | 2.2 |
3. | Bristol-Myers Squibb Co. | 2.1 |
4. | AbbVie, Inc. | 2.1 |
5. | Loews Corp. | 1.7 |
6. | M&T Bank Corp. | 1.7 |
7. | Travelers Cos., Inc. (The) | 1.7 |
8. | ConocoPhillips | 1.7 |
9. | Chevron Corp. | 1.6 |
10. | AutoZone, Inc. | 1.6 |
PORTFOLIO COMPOSTION BY SECTOR AS OF June 30, 2022 | PERCENT OF TOTAL INVESTMENTS |
Financials | 26.5% |
Health Care | 13.8 |
Consumer Discretionary | 8.9 |
Industrials | 8.8 |
Real Estate | 7.4 |
Energy | 7.4 |
Communication Services | 6.0 |
Consumer Staples | 5.8 |
Information Technology | 4.8 |
Utilities | 3.9 |
Materials | 2.6 |
Short-Term Investments | 4.1 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 11 |
TWELVE MONTHS ENDED June 30, 2022 (Unaudited) (continued)
INCEPTION DATE OF CLASS | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 28, 2005 | |||
With Sales Charge * | (8.84)% | 6.31% | 9.69% | |
Without Sales Charge | (3.78) | 7.47 | 10.28 | |
CLASS C SHARES | February 28, 2005 | |||
With CDSC ** | (5.24) | 6.94 | 9.85 | |
Without CDSC | (4.24) | 6.94 | 9.85 | |
Class I SHARES | February 28, 2005 | (3.54) | 7.74 | 10.56 |
Class L SHARES | February 28, 2005 | (3.39) | 7.91 | 10.79 |
Class R2 SHARES | July 31, 2017 | (4.02) | 7.20 | 10.01 |
Class R3 SHARES | September 9, 2016 | (3.78) | 7.47 | 10.28 |
Class R4 SHARES | September 9, 2016 | (3.53) | 7.74 | 10.56 |
Class R5 SHARES | September 9, 2016 | (3.40) | 7.90 | 10.78 |
Class R6 SHARES | September 9, 2016 | (3.30) | 8.01 | 10.84 |
* | 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. |
12 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 97.9% | ||
Airlines — 0.5% | ||
Delta Air Lines, Inc. * | 1,942 | 56,249 |
Automobiles — 4.0% | ||
Tesla, Inc. * | 723 | 486,524 |
Banks — 1.2% | ||
First Republic Bank | 552 | 79,527 |
SVB Financial Group * | 167 | 66,030 |
145,557 | ||
Beverages — 1.3% | ||
Constellation Brands, Inc., Class A | 683 | 159,214 |
Biotechnology — 4.3% | ||
Alnylam Pharmaceuticals, Inc. * | 519 | 75,757 |
Exact Sciences Corp. * | 935 | 36,826 |
Exelixis, Inc. * | 3,097 | 64,473 |
Horizon Therapeutics plc * | 1,615 | 128,836 |
Natera, Inc. * | 1,030 | 36,520 |
Regeneron Pharmaceuticals, Inc. * | 295 | 174,163 |
516,575 | ||
Building Products — 1.0% | ||
Trane Technologies plc | 955 | 124,080 |
Capital Markets — 4.5% | ||
BlackRock, Inc. | 142 | 86,488 |
Blackstone, Inc. | 1,819 | 165,956 |
Charles Schwab Corp. (The) | 2,468 | 155,903 |
S&P Global, Inc. | 396 | 133,590 |
541,937 | ||
Commercial Services & Supplies — 1.1% | ||
Copart, Inc. * | 1,230 | 133,618 |
Communications Equipment — 0.8% | ||
Arista Networks, Inc. * | 993 | 93,069 |
Construction & Engineering — 1.9% | ||
Quanta Services, Inc. | 1,865 | 233,740 |
Diversified Consumer Services — 0.5% | ||
Bright Horizons Family Solutions, Inc. * | 772 | 65,254 |
Electrical Equipment — 1.6% | ||
AMETEK, Inc. | 1,077 | 118,380 |
Generac Holdings, Inc. * | 343 | 72,084 |
190,464 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Electronic Equipment, Instruments & Components — 1.1% | ||
Keysight Technologies, Inc. * | 580 | 79,956 |
Zebra Technologies Corp., Class A * | 198 | 58,177 |
138,133 | ||
Energy Equipment & Services — 0.4% | ||
Baker Hughes Co. | 1,562 | 45,082 |
Entertainment — 0.3% | ||
ROBLOX Corp., Class A * | 1,240 | 40,749 |
Health Care Equipment & Supplies — 3.0% | ||
Cooper Cos., Inc. (The) | 342 | 107,170 |
Dexcom, Inc. * | 983 | 73,256 |
Insulet Corp. * | 323 | 70,382 |
Intuitive Surgical, Inc. * | 553 | 110,896 |
361,704 | ||
Health Care Providers & Services — 4.9% | ||
Centene Corp. * | 1,183 | 100,130 |
McKesson Corp. | 381 | 124,107 |
UnitedHealth Group, Inc. | 706 | 362,525 |
586,762 | ||
Hotels, Restaurants & Leisure — 2.4% | ||
Airbnb, Inc., Class A * | 249 | 22,152 |
Booking Holdings, Inc. * | 56 | 98,935 |
Hilton Worldwide Holdings, Inc. | 1,001 | 111,561 |
Royal Caribbean Cruises Ltd. * | 1,518 | 52,993 |
285,641 | ||
Household Durables — 0.6% | ||
Garmin Ltd. | 729 | 71,652 |
Insurance — 1.1% | ||
Progressive Corp. (The) | 1,173 | 136,416 |
Interactive Media & Services — 6.0% | ||
Alphabet, Inc., Class C * | 288 | 628,909 |
Bumble, Inc., Class A * (a) | 3,391 | 95,464 |
724,373 | ||
Internet & Direct Marketing Retail — 4.0% | ||
Amazon.com, Inc. * | 4,592 | 487,684 |
IT Services — 4.8% | ||
Global Payments, Inc. | 807 | 89,280 |
Globant SA * | 428 | 74,524 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 13 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
IT Services — continued | ||
Mastercard, Inc., Class A | 1,120 | 353,368 |
MongoDB, Inc. * | 231 | 59,949 |
577,121 | ||
Life Sciences Tools & Services — 1.5% | ||
Mettler-Toledo International, Inc. * | 52 | 59,346 |
Thermo Fisher Scientific, Inc. | 226 | 122,750 |
182,096 | ||
Machinery — 2.0% | ||
Deere & Co. | 471 | 141,134 |
Ingersoll Rand, Inc. | 2,253 | 94,803 |
235,937 | ||
Metals & Mining — 0.6% | ||
Freeport-McMoRan, Inc. | 2,249 | 65,806 |
Oil, Gas & Consumable Fuels — 2.2% | ||
Cheniere Energy, Inc. | 662 | 88,105 |
EOG Resources, Inc. | 1,651 | 182,313 |
270,418 | ||
Personal Products — 0.9% | ||
Estee Lauder Cos., Inc. (The), Class A | 402 | 102,489 |
Pharmaceuticals — 2.8% | ||
Catalent, Inc. * | 1,229 | 131,883 |
Jazz Pharmaceuticals plc * | 704 | 109,874 |
Royalty Pharma plc, Class A | 2,380 | 100,034 |
341,791 | ||
Professional Services — 0.5% | ||
Equifax, Inc. | 355 | 64,963 |
Road & Rail — 0.4% | ||
Old Dominion Freight Line, Inc. | 203 | 51,997 |
Semiconductors & Semiconductor Equipment — 7.2% | ||
Advanced Micro Devices, Inc. * | 1,589 | 121,509 |
Entegris, Inc. | 963 | 88,754 |
Lam Research Corp. | 197 | 83,799 |
NVIDIA Corp. | 1,135 | 172,094 |
QUALCOMM, Inc. | 1,279 | 163,383 |
SolarEdge Technologies, Inc. * | 465 | 127,237 |
Teradyne, Inc. | 681 | 60,989 |
Wolfspeed, Inc. * (a) | 793 | 50,280 |
868,045 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Software — 17.0% | ||
Confluent, Inc., Class A * (a) | 2,900 | 67,406 |
Crowdstrike Holdings, Inc., Class A * | 430 | 72,551 |
HubSpot, Inc. * | 222 | 66,758 |
Intuit, Inc. | 451 | 173,809 |
Microsoft Corp. | 4,014 | 1,030,781 |
Palo Alto Networks, Inc. * | 340 | 167,918 |
ServiceNow, Inc. * | 284 | 135,236 |
Synopsys, Inc. * | 406 | 123,295 |
Trade Desk, Inc. (The), Class A * | 1,053 | 44,091 |
Zoom Video Communications, Inc., Class A * | 1,227 | 132,519 |
Zscaler, Inc. * | 268 | 40,027 |
2,054,391 | ||
Specialty Retail — 2.6% | ||
Burlington Stores, Inc. * | 652 | 88,810 |
CarMax, Inc. * (a) | 778 | 70,374 |
Home Depot, Inc. (The) | 448 | 122,812 |
National Vision Holdings, Inc. * | 1,265 | 34,804 |
316,800 | ||
Technology Hardware, Storage & Peripherals — 8.0% | ||
Apple, Inc. | 7,020 | 959,799 |
Textiles, Apparel & Luxury Goods — 0.9% | ||
NIKE, Inc., Class B | 1,085 | 110,923 |
Total Common Stocks (Cost $8,268,517) | 11,827,053 | |
Short Term Investments — 3.2% | ||
Investment Companies — 2.2% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $269,719) | 269,680 | 269,734 |
14 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short Term Investments — continued | ||
Investment of Cash Collateral from Securities Loaned — 1.0% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (b) (c) | 101,169 | 101,108 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) | 12,600 | 12,601 |
Total Investment of Cash Collateral from Securities Loaned (Cost $113,710) | 113,709 | |
Total Short Term Investments (Cost $383,429) | 383,443 | |
Total Investments — 101.1% (Cost $8,651,946) | 12,210,496 | |
Liabilities in Excess of Other Assets — (1.1)% | (129,179) | |
NET ASSETS — 100.0% | 12,081,317 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $109,523. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 15 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 96.3% | ||
Aerospace & Defense — 0.2% | ||
HEICO Corp., Class A | 59 | 6,193 |
Airlines — 0.7% | ||
Delta Air Lines, Inc. * | 353 | 10,231 |
Southwest Airlines Co. * | 223 | 8,060 |
18,291 | ||
Banks — 6.3% | ||
Citizens Financial Group, Inc. | 537 | 19,170 |
East West Bancorp, Inc. | 121 | 7,845 |
Fifth Third Bancorp | 699 | 23,475 |
First Citizens BancShares, Inc., Class A | 16 | 10,264 |
First Republic Bank | 46 | 6,686 |
Huntington Bancshares, Inc. | 2,149 | 25,853 |
M&T Bank Corp. | 211 | 33,707 |
Regions Financial Corp. | 1,179 | 22,101 |
SVB Financial Group * | 12 | 4,732 |
Zions Bancorp NA | 252 | 12,842 |
166,675 | ||
Beverages — 1.5% | ||
Constellation Brands, Inc., Class A | 113 | 26,461 |
Keurig Dr Pepper, Inc. | 330 | 11,669 |
38,130 | ||
Biotechnology — 2.1% | ||
Alnylam Pharmaceuticals, Inc. * | 56 | 8,204 |
Exact Sciences Corp. * | 132 | 5,215 |
Exelixis, Inc. * | 354 | 7,361 |
Horizon Therapeutics plc * | 178 | 14,217 |
Natera, Inc. * | 116 | 4,129 |
Neurocrine Biosciences, Inc. * | 74 | 7,181 |
Seagen, Inc. * | 48 | 8,438 |
54,745 | ||
Building Products — 2.3% | ||
Advanced Drainage Systems, Inc. | 52 | 4,662 |
Carlisle Cos., Inc. | 96 | 22,900 |
Fortune Brands Home & Security, Inc. | 277 | 16,593 |
Trane Technologies plc | 118 | 15,381 |
59,536 | ||
Capital Markets — 6.1% | ||
Affiliated Managers Group, Inc. | 42 | 4,853 |
Ameriprise Financial, Inc. | 104 | 24,646 |
Ares Management Corp. | 152 | 8,619 |
LPL Financial Holdings, Inc. | 84 | 15,473 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Capital Markets — continued | ||
MarketAxess Holdings, Inc. | 15 | 3,726 |
Morningstar, Inc. | 28 | 6,822 |
MSCI, Inc. | 31 | 12,652 |
Northern Trust Corp. | 191 | 18,442 |
Raymond James Financial, Inc. | 218 | 19,528 |
S&P Global, Inc. | 25 | 8,611 |
State Street Corp. | 241 | 14,882 |
T. Rowe Price Group, Inc. | 127 | 14,446 |
Tradeweb Markets, Inc., Class A | 127 | 8,678 |
161,378 | ||
Chemicals — 0.9% | ||
Celanese Corp. | 68 | 8,008 |
RPM International, Inc. | 207 | 16,309 |
24,317 | ||
Commercial Services & Supplies — 0.7% | ||
Copart, Inc. * | 166 | 18,078 |
Communications Equipment — 1.8% | ||
Arista Networks, Inc. * | 132 | 12,393 |
F5, Inc. * | 42 | 6,417 |
Motorola Solutions, Inc. | 137 | 28,734 |
47,544 | ||
Construction & Engineering — 0.7% | ||
Quanta Services, Inc. | 146 | 18,327 |
Construction Materials — 0.6% | ||
Martin Marietta Materials, Inc. | 52 | 15,535 |
Consumer Finance — 0.5% | ||
Discover Financial Services | 147 | 13,911 |
Containers & Packaging — 1.3% | ||
Packaging Corp. of America | 126 | 17,260 |
Silgan Holdings, Inc. | 424 | 17,539 |
34,799 | ||
Distributors — 1.3% | ||
Genuine Parts Co. | 94 | 12,548 |
LKQ Corp. | 440 | 21,580 |
34,128 | ||
Diversified Consumer Services — 0.2% | ||
Bright Horizons Family Solutions, Inc. * | 67 | 5,657 |
Diversified Financial Services — 0.4% | ||
Voya Financial, Inc. | 174 | 10,381 |
16 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Electric Utilities — 2.6% | ||
Edison International | 193 | 12,172 |
Entergy Corp. | 219 | 24,669 |
Xcel Energy, Inc. | 460 | 32,577 |
69,418 | ||
Electrical Equipment — 2.9% | ||
Acuity Brands, Inc. | 120 | 18,533 |
AMETEK, Inc. | 243 | 26,730 |
Generac Holdings, Inc. * | 43 | 8,961 |
Hubbell, Inc. | 124 | 22,113 |
76,337 | ||
Electronic Equipment, Instruments & Components — 2.9% | ||
Amphenol Corp., Class A | 217 | 14,012 |
CDW Corp. | 108 | 16,978 |
Jabil, Inc. | 198 | 10,122 |
Keysight Technologies, Inc. * | 66 | 9,107 |
Littelfuse, Inc. | 21 | 5,309 |
TD SYNNEX Corp. | 109 | 9,903 |
Teledyne Technologies, Inc. * | 15 | 5,695 |
Zebra Technologies Corp., Class A * | 22 | 6,399 |
77,525 | ||
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 126 | 3,642 |
Entertainment — 1.1% | ||
ROBLOX Corp., Class A * | 122 | 4,016 |
Take-Two Interactive Software, Inc. * | 214 | 26,167 |
30,183 | ||
Equity Real Estate Investment Trusts (REITs) — 6.8% | ||
American Homes 4 Rent, Class A | 423 | 14,986 |
AvalonBay Communities, Inc. | 74 | 14,397 |
Boston Properties, Inc. | 140 | 12,429 |
Brixmor Property Group, Inc. | 471 | 9,514 |
Essex Property Trust, Inc. | 33 | 8,606 |
Federal Realty OP LP | 75 | 7,203 |
Host Hotels & Resorts, Inc. | 379 | 5,941 |
JBG SMITH Properties | 262 | 6,194 |
Kimco Realty Corp. | 575 | 11,360 |
Mid-America Apartment Communities, Inc. | 49 | 8,550 |
Rayonier, Inc. | 478 | 17,880 |
Regency Centers Corp. | 129 | 7,653 |
Rexford Industrial Realty, Inc. | 133 | 7,655 |
Sun Communities, Inc. | 52 | 8,366 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Equity Real Estate Investment Trusts (REITs) — continued | ||
Ventas, Inc. | 149 | 7,671 |
Weyerhaeuser Co. | 512 | 16,955 |
WP Carey, Inc. | 160 | 13,284 |
178,644 | ||
Food & Staples Retailing — 1.0% | ||
Kroger Co. (The) | 296 | 14,010 |
US Foods Holding Corp. * | 395 | 12,110 |
26,120 | ||
Food Products — 0.5% | ||
Post Holdings, Inc. * | 160 | 13,209 |
Gas Utilities — 0.7% | ||
National Fuel Gas Co. | 262 | 17,274 |
Health Care Equipment & Supplies — 2.9% | ||
Cooper Cos., Inc. (The) | 29 | 9,065 |
Dexcom, Inc. * | 183 | 13,650 |
Hologic, Inc. * | 145 | 10,079 |
IDEXX Laboratories, Inc. * | 14 | 4,752 |
Insulet Corp. * | 49 | 10,754 |
ResMed, Inc. | 43 | 9,097 |
Zimmer Biomet Holdings, Inc. | 169 | 17,722 |
75,119 | ||
Health Care Providers & Services — 5.1% | ||
Acadia Healthcare Co., Inc. * | 142 | 9,591 |
Amedisys, Inc. * | 66 | 6,926 |
AmerisourceBergen Corp. | 195 | 27,549 |
Centene Corp. * | 203 | 17,154 |
Henry Schein, Inc. * | 293 | 22,467 |
Laboratory Corp. of America Holdings | 122 | 28,609 |
McKesson Corp. | 32 | 10,488 |
Universal Health Services, Inc., Class B | 101 | 10,213 |
132,997 | ||
Hotels, Restaurants & Leisure — 2.4% | ||
Aramark | 286 | 8,772 |
Booking Holdings, Inc. * | 2 | 3,696 |
Chipotle Mexican Grill, Inc. * | 12 | 15,920 |
Darden Restaurants, Inc. | 73 | 8,267 |
Expedia Group, Inc. * | 54 | 5,078 |
Hilton Worldwide Holdings, Inc. | 149 | 16,549 |
Royal Caribbean Cruises Ltd. * | 143 | 4,983 |
63,265 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 17 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Household Durables — 1.7% | ||
Garmin Ltd. | 65 | 6,379 |
Helen of Troy Ltd. * | 44 | 7,191 |
Mohawk Industries, Inc. * | 108 | 13,432 |
Newell Brands, Inc. | 990 | 18,851 |
45,853 | ||
Household Products — 0.3% | ||
Energizer Holdings, Inc. | 242 | 6,856 |
Insurance — 4.7% | ||
Alleghany Corp. * | 13 | 10,784 |
Arch Capital Group Ltd. * | 270 | 12,269 |
Hartford Financial Services Group, Inc. (The) | 292 | 19,134 |
Lincoln National Corp. | 236 | 11,015 |
Loews Corp. | 475 | 28,179 |
Progressive Corp. (The) | 92 | 10,646 |
RenaissanceRe Holdings Ltd. (Bermuda) | 84 | 13,140 |
WR Berkley Corp. | 250 | 17,065 |
122,232 | ||
Interactive Media & Services — 1.0% | ||
Bumble, Inc., Class A * | 358 | 10,069 |
InterActiveCorp. * | 209 | 15,926 |
25,995 | ||
Internet & Direct Marketing Retail — 0.2% | ||
Chewy, Inc., Class A * (a) | 119 | 4,115 |
IT Services — 2.5% | ||
FleetCor Technologies, Inc. * | 92 | 19,278 |
Global Payments, Inc. | 73 | 8,123 |
Globant SA * | 52 | 8,963 |
GoDaddy, Inc., Class A * | 168 | 11,672 |
MongoDB, Inc. * | 37 | 9,653 |
Okta, Inc. * | 53 | 4,774 |
Remitly Global, Inc. * | 293 | 2,247 |
64,710 | ||
Life Sciences Tools & Services — 1.3% | ||
10X Genomics, Inc., Class A * | 70 | 3,176 |
Agilent Technologies, Inc. | 124 | 14,757 |
Maravai LifeSciences Holdings, Inc., Class A * | 201 | 5,696 |
Mettler-Toledo International, Inc. * | 9 | 10,265 |
33,894 | ||
Machinery — 4.4% | ||
IDEX Corp. | 77 | 14,023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Machinery — continued | ||
Ingersoll Rand, Inc. | 188 | 7,903 |
ITT, Inc. | 346 | 23,251 |
Lincoln Electric Holdings, Inc. | 157 | 19,364 |
Middleby Corp. (The) * | 126 | 15,826 |
Snap-on, Inc. | 94 | 18,603 |
Timken Co. (The) | 194 | 10,274 |
Toro Co. (The) | 93 | 7,053 |
116,297 | ||
Media — 1.3% | ||
Liberty Broadband Corp., Class C * | 156 | 18,090 |
Liberty Media Corp.-Liberty SiriusXM, Class C * | 434 | 15,630 |
33,720 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 349 | 10,223 |
Multiline Retail — 0.2% | ||
Kohl's Corp. | 171 | 6,097 |
Multi-Utilities — 2.5% | ||
CMS Energy Corp. | 429 | 28,918 |
Sempra Energy | 47 | 7,115 |
WEC Energy Group, Inc. | 298 | 29,971 |
66,004 | ||
Oil, Gas & Consumable Fuels — 2.6% | ||
Cheniere Energy, Inc. | 116 | 15,392 |
Coterra Energy, Inc. | 519 | 13,374 |
Diamondback Energy, Inc. | 106 | 12,793 |
EOG Resources, Inc. | 103 | 11,417 |
Williams Cos., Inc. (The) | 469 | 14,647 |
67,623 | ||
Personal Products — 0.2% | ||
BellRing Brands, Inc. * | 203 | 5,053 |
Pharmaceuticals — 1.7% | ||
Catalent, Inc. * | 109 | 11,657 |
Jazz Pharmaceuticals plc * | 158 | 24,608 |
Royalty Pharma plc, Class A | 206 | 8,679 |
44,944 | ||
Professional Services — 0.8% | ||
Equifax, Inc. | 40 | 7,349 |
Leidos Holdings, Inc. | 140 | 14,060 |
21,409 |
18 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Real Estate Management & Development — 0.5% | ||
CBRE Group, Inc., Class A * | 191 | 14,076 |
Road & Rail — 0.4% | ||
Old Dominion Freight Line, Inc. | 36 | 9,292 |
Semiconductors & Semiconductor Equipment — 2.1% | ||
Advanced Micro Devices, Inc. * | 72 | 5,509 |
Entegris, Inc. | 121 | 11,144 |
Marvell Technology, Inc. | 166 | 7,199 |
SolarEdge Technologies, Inc. * | 57 | 15,544 |
Teradyne, Inc. | 116 | 10,409 |
Wolfspeed, Inc. * (a) | 73 | 4,646 |
54,451 | ||
Software — 5.5% | ||
Cadence Design Systems, Inc. * | 99 | 14,780 |
Confluent, Inc., Class A * (a) | 240 | 5,580 |
Crowdstrike Holdings, Inc., Class A * | 92 | 15,500 |
Datadog, Inc., Class A * | 63 | 5,969 |
Five9, Inc. * | 61 | 5,541 |
Gitlab, Inc., Class A * (a) | 21 | 1,089 |
HubSpot, Inc. * | 34 | 10,194 |
NortonLifeLock, Inc. | 802 | 17,620 |
Palo Alto Networks, Inc. * | 28 | 13,896 |
Procore Technologies, Inc. * | 120 | 5,438 |
Synopsys, Inc. * | 61 | 18,569 |
Trade Desk, Inc. (The), Class A * | 233 | 9,774 |
Zoom Video Communications, Inc., Class A * | 120 | 12,955 |
Zscaler, Inc. * | 44 | 6,630 |
143,535 | ||
Specialty Retail — 3.1% | ||
AutoZone, Inc. * | 18 | 37,730 |
Bath & Body Works, Inc. | 214 | 5,759 |
Best Buy Co., Inc. | 118 | 7,691 |
Burlington Stores, Inc. * | 73 | 9,955 |
CarMax, Inc. * | 70 | 6,319 |
Gap, Inc. (The) | 355 | 2,925 |
National Vision Holdings, Inc. * | 125 | 3,452 |
Tractor Supply Co. | 45 | 8,673 |
82,504 | ||
Textiles, Apparel & Luxury Goods — 1.7% | ||
Carter's, Inc. | 186 | 13,107 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Textiles, Apparel & Luxury Goods — continued | ||
Lululemon Athletica, Inc. * | 15 | 4,178 |
Ralph Lauren Corp. | 151 | 13,505 |
Tapestry, Inc. | 425 | 12,978 |
43,768 | ||
Thrifts & Mortgage Finance — 0.4% | ||
MGIC Investment Corp. | 837 | 10,546 |
Trading Companies & Distributors — 0.2% | ||
Air Lease Corp. | 183 | 6,133 |
Total Common Stocks (Cost $2,119,219) | 2,530,688 | |
Short Term Investments — 4.0% | ||
Investment Companies — 3.7% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $96,450) | 96,445 | 96,464 |
Investment of Cash Collateral from Securities Loaned — 0.3% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (b) (c) | 7,977 | 7,972 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) | 1,531 | 1,531 |
Total Investment of Cash Collateral from Securities Loaned (Cost $9,503) | 9,503 | |
Total Short Term Investments (Cost $105,953) | 105,967 | |
Total Investments — 100.3% (Cost $2,225,172) | 2,636,655 | |
Liabilities in Excess of Other Assets — (0.3)% | (7,267) | |
NET ASSETS — 100.0% | 2,629,388 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $9,131. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 19 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 96.5% | ||
Aerospace & Defense — 0.7% | ||
HEICO Corp., Class A | 437 | 46,039 |
Airlines — 1.1% | ||
Delta Air Lines, Inc. * | 2,626 | 76,068 |
Banks — 2.0% | ||
East West Bancorp, Inc. | 900 | 58,329 |
First Republic Bank | 345 | 49,707 |
SVB Financial Group * | 89 | 35,173 |
143,209 | ||
Beverages — 1.4% | ||
Constellation Brands, Inc., Class A | 415 | 96,617 |
Biotechnology — 5.8% | ||
Alnylam Pharmaceuticals, Inc. * | 419 | 61,067 |
Exact Sciences Corp. * | 984 | 38,771 |
Exelixis, Inc. * | 2,629 | 54,728 |
Horizon Therapeutics plc * | 1,325 | 105,707 |
Natera, Inc. * | 866 | 30,694 |
Neurocrine Biosciences, Inc. * | 548 | 53,388 |
Seagen, Inc. * | 354 | 62,737 |
407,092 | ||
Building Products — 2.1% | ||
Advanced Drainage Systems, Inc. | 385 | 34,656 |
Trane Technologies plc | 880 | 114,372 |
149,028 | ||
Capital Markets — 7.4% | ||
Affiliated Managers Group, Inc. | 309 | 36,077 |
Ares Management Corp. | 1,127 | 64,084 |
LPL Financial Holdings, Inc. | 624 | 115,049 |
MarketAxess Holdings, Inc. | 108 | 27,697 |
Morningstar, Inc. | 210 | 50,720 |
MSCI, Inc. | 228 | 94,076 |
S&P Global, Inc. | 190 | 64,021 |
Tradeweb Markets, Inc., Class A | 945 | 64,519 |
516,243 | ||
Commercial Services & Supplies — 1.9% | ||
Copart, Inc. * | 1,237 | 134,424 |
Communications Equipment — 2.0% | ||
Arista Networks, Inc. * | 983 | 92,146 |
F5, Inc. * | 312 | 47,707 |
139,853 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Construction & Engineering — 2.0% | ||
Quanta Services, Inc. | 1,087 | 136,278 |
Diversified Consumer Services — 0.6% | ||
Bright Horizons Family Solutions, Inc. * | 499 | 42,206 |
Electrical Equipment — 2.1% | ||
AMETEK, Inc. | 707 | 77,678 |
Generac Holdings, Inc. * | 316 | 66,629 |
144,307 | ||
Electronic Equipment, Instruments & Components — 2.8% | ||
Keysight Technologies, Inc. * | 491 | 67,711 |
Littelfuse, Inc. | 155 | 39,465 |
Teledyne Technologies, Inc. * | 113 | 42,339 |
Zebra Technologies Corp., Class A * | 162 | 47,617 |
197,132 | ||
Energy Equipment & Services — 0.4% | ||
Baker Hughes Co. | 938 | 27,071 |
Entertainment — 1.8% | ||
ROBLOX Corp., Class A * (a) | 908 | 29,848 |
Take-Two Interactive Software, Inc. * | 756 | 92,578 |
122,426 | ||
Health Care Equipment & Supplies — 6.1% | ||
Cooper Cos., Inc. (The) | 215 | 67,397 |
Dexcom, Inc. * | 1,362 | 101,496 |
Hologic, Inc. * | 1,081 | 74,939 |
IDEXX Laboratories, Inc. * | 101 | 35,362 |
Insulet Corp. * | 367 | 79,958 |
ResMed, Inc. | 323 | 67,638 |
426,790 | ||
Health Care Providers & Services — 4.7% | ||
Acadia Healthcare Co., Inc. * | 1,054 | 71,308 |
Amedisys, Inc. * | 490 | 51,491 |
Centene Corp. * | 1,509 | 127,671 |
McKesson Corp. | 239 | 78,061 |
328,531 | ||
Hotels, Restaurants & Leisure — 5.3% | ||
Aramark | 2,129 | 65,223 |
Booking Holdings, Inc. * | 16 | 27,468 |
Chipotle Mexican Grill, Inc. * | 91 | 118,371 |
Hilton Worldwide Holdings, Inc. | 1,104 | 123,054 |
Royal Caribbean Cruises Ltd. * | 1,061 | 37,045 |
371,161 |
20 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Household Durables — 1.4% | ||
Garmin Ltd. | 483 | 47,425 |
Helen of Troy Ltd. * | 329 | 53,460 |
100,885 | ||
Insurance — 1.1% | ||
Progressive Corp. (The) | 681 | 79,157 |
Interactive Media & Services — 1.1% | ||
Bumble, Inc., Class A * | 2,660 | 74,867 |
Internet & Direct Marketing Retail — 0.4% | ||
Chewy, Inc., Class A * (a) | 881 | 30,592 |
IT Services — 3.6% | ||
Global Payments, Inc. | 546 | 60,395 |
Globant SA * | 383 | 66,643 |
MongoDB, Inc. * | 277 | 71,777 |
Okta, Inc. * | 393 | 35,491 |
Remitly Global, Inc. * (a) | 2,179 | 16,696 |
251,002 | ||
Life Sciences Tools & Services — 3.6% | ||
10X Genomics, Inc., Class A * | 522 | 23,605 |
Agilent Technologies, Inc. | 925 | 109,816 |
Maravai LifeSciences Holdings, Inc., Class A * | 1,490 | 42,343 |
Mettler-Toledo International, Inc. * | 66 | 76,327 |
252,091 | ||
Machinery — 2.3% | ||
Ingersoll Rand, Inc. | 1,396 | 58,753 |
ITT, Inc. | 706 | 47,477 |
Toro Co. (The) | 692 | 52,439 |
158,669 | ||
Metals & Mining — 0.5% | ||
Freeport-McMoRan, Inc. | 1,106 | 32,362 |
Oil, Gas & Consumable Fuels — 2.9% | ||
Cheniere Energy, Inc. | 860 | 114,450 |
EOG Resources, Inc. | 769 | 84,885 |
199,335 | ||
Pharmaceuticals — 3.2% | ||
Catalent, Inc. * | 808 | 86,675 |
Jazz Pharmaceuticals plc * | 454 | 70,890 |
Royalty Pharma plc, Class A | 1,535 | 64,528 |
222,093 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Professional Services — 0.8% | ||
Equifax, Inc. | 299 | 54,637 |
Road & Rail — 1.0% | ||
Old Dominion Freight Line, Inc. | 270 | 69,084 |
Semiconductors & Semiconductor Equipment — 5.8% | ||
Advanced Micro Devices, Inc. * | 536 | 40,953 |
Entegris, Inc. | 899 | 82,862 |
Marvell Technology, Inc. | 1,230 | 53,523 |
SolarEdge Technologies, Inc. * | 422 | 115,585 |
Teradyne, Inc. | 864 | 77,396 |
Wolfspeed, Inc. * | 544 | 34,535 |
404,854 | ||
Software — 13.4% | ||
Cadence Design Systems, Inc. * | 732 | 109,900 |
Confluent, Inc., Class A * (a) | 1,785 | 41,484 |
Crowdstrike Holdings, Inc., Class A * | 684 | 115,254 |
Datadog, Inc., Class A * | 466 | 44,363 |
Five9, Inc. * | 452 | 41,190 |
Gitlab, Inc., Class A * (a) | 153 | 8,122 |
HubSpot, Inc. * | 252 | 75,799 |
Palo Alto Networks, Inc. * | 210 | 103,678 |
Procore Technologies, Inc. * | 890 | 40,425 |
Synopsys, Inc. * | 455 | 138,080 |
Trade Desk, Inc. (The), Class A * | 1,735 | 72,671 |
Zoom Video Communications, Inc., Class A * | 892 | 96,325 |
Zscaler, Inc. * | 330 | 49,290 |
936,581 | ||
Specialty Retail — 4.1% | ||
AutoZone, Inc. * | 35 | 73,998 |
Burlington Stores, Inc. * | 543 | 74,015 |
CarMax, Inc. * | 519 | 46,981 |
National Vision Holdings, Inc. * | 942 | 25,897 |
Tractor Supply Co. | 333 | 64,545 |
285,436 | ||
Textiles, Apparel & Luxury Goods — 0.4% | ||
Lululemon Athletica, Inc. * | 114 | 31,101 |
Trading Companies & Distributors — 0.7% | ||
Air Lease Corp. | 1,364 | 45,597 |
Total Common Stocks (Cost $6,358,755) | 6,732,818 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 21 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short Term Investments — 4.6% | ||
Investment Companies — 3.7% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $260,535) | 260,503 | 260,555 |
Investment of Cash Collateral from Securities Loaned — 0.9% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (b) (c) | 53,897 | 53,864 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) | 6,877 | 6,877 |
Total Investment of Cash Collateral from Securities Loaned (Cost $60,742) | 60,741 | |
Total Short Term Investments (Cost $321,277) | 321,296 | |
Total Investments — 101.1% (Cost $6,680,032) | 7,054,114 | |
Liabilities in Excess of Other Assets — (1.1)% | (74,215) | |
NET ASSETS — 100.0% | 6,979,899 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $58,035. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
22 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 96.2% | ||
Airlines — 0.5% | ||
Southwest Airlines Co. * | 1,824 | 65,872 |
Banks — 8.7% | ||
Citizens Financial Group, Inc. | 4,390 | 156,684 |
Fifth Third Bancorp | 5,711 | 191,882 |
First Citizens BancShares, Inc., Class A | 128 | 83,874 |
Huntington Bancshares, Inc. | 17,566 | 211,313 |
M&T Bank Corp. | 1,729 | 275,521 |
Regions Financial Corp. | 9,634 | 180,643 |
Zions Bancorp NA | 2,062 | 104,958 |
1,204,875 | ||
Beverages — 1.5% | ||
Constellation Brands, Inc., Class A | 472 | 110,060 |
Keurig Dr Pepper, Inc. | 2,695 | 95,371 |
205,431 | ||
Building Products — 2.3% | ||
Carlisle Cos., Inc. | 784 | 187,168 |
Fortune Brands Home & Security, Inc. | 2,265 | 135,616 |
322,784 | ||
Capital Markets — 5.4% | ||
Ameriprise Financial, Inc. | 848 | 201,453 |
Northern Trust Corp. | 1,562 | 150,732 |
Raymond James Financial, Inc. | 1,785 | 159,606 |
State Street Corp. | 1,973 | 121,639 |
T. Rowe Price Group, Inc. | 1,039 | 118,074 |
751,504 | ||
Chemicals — 1.4% | ||
Celanese Corp. | 557 | 65,445 |
RPM International, Inc. | 1,693 | 133,300 |
198,745 | ||
Communications Equipment — 1.7% | ||
Motorola Solutions, Inc. | 1,121 | 234,876 |
Construction Materials — 0.9% | ||
Martin Marietta Materials, Inc. | 424 | 126,968 |
Consumer Finance — 0.8% | ||
Discover Financial Services | 1,202 | 113,692 |
Containers & Packaging — 2.1% | ||
Packaging Corp. of America | 1,026 | 141,071 |
Silgan Holdings, Inc. | 3,467 | 143,351 |
284,422 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Distributors — 2.0% | ||
Genuine Parts Co. | 771 | 102,556 |
LKQ Corp. | 3,593 | 176,384 |
278,940 | ||
Diversified Financial Services — 0.6% | ||
Voya Financial, Inc. | 1,425 | 84,844 |
Electric Utilities — 4.1% | ||
Edison International | 1,573 | 99,482 |
Entergy Corp. (a) | 1,790 | 201,638 |
Xcel Energy, Inc. | 3,763 | 266,274 |
567,394 | ||
Electrical Equipment — 3.4% | ||
Acuity Brands, Inc. | 984 | 151,478 |
AMETEK, Inc. | 1,211 | 133,085 |
Hubbell, Inc. | 1,012 | 180,740 |
465,303 | ||
Electronic Equipment, Instruments & Components — 3.0% | ||
Amphenol Corp., Class A | 1,779 | 114,524 |
CDW Corp. | 881 | 138,766 |
Jabil, Inc. | 1,615 | 82,719 |
TD SYNNEX Corp. | 888 | 80,933 |
416,942 | ||
Entertainment — 0.8% | ||
Take-Two Interactive Software, Inc. * | 915 | 112,104 |
Equity Real Estate Investment Trusts (REITs) — 10.6% | ||
American Homes 4 Rent, Class A | 3,456 | 122,478 |
AvalonBay Communities, Inc. | 606 | 117,674 |
Boston Properties, Inc. | 1,142 | 101,579 |
Brixmor Property Group, Inc. | 3,847 | 77,749 |
Essex Property Trust, Inc. | 269 | 70,323 |
Federal Realty OP LP | 615 | 58,857 |
Host Hotels & Resorts, Inc. | 3,096 | 48,548 |
JBG SMITH Properties | 2,141 | 50,613 |
Kimco Realty Corp. | 4,696 | 92,842 |
Mid-America Apartment Communities, Inc. | 400 | 69,866 |
Rayonier, Inc. | 3,910 | 146,139 |
Regency Centers Corp. | 1,054 | 62,537 |
Rexford Industrial Realty, Inc. | 1,086 | 62,554 |
Sun Communities, Inc. | 429 | 68,369 |
Ventas, Inc. | 1,219 | 62,690 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 23 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
Weyerhaeuser Co. | 4,184 | 138,580 |
WP Carey, Inc. | 1,310 | 108,571 |
1,459,969 | ||
Food & Staples Retailing — 1.6% | ||
Kroger Co. (The) | 2,419 | 114,502 |
US Foods Holding Corp. * | 3,226 | 98,976 |
213,478 | ||
Food Products — 0.8% | ||
Post Holdings, Inc. * | 1,311 | 107,952 |
Gas Utilities — 1.0% | ||
National Fuel Gas Co. | 2,138 | 141,182 |
Health Care Equipment & Supplies — 1.1% | ||
Zimmer Biomet Holdings, Inc. | 1,379 | 144,856 |
Health Care Providers & Services — 5.3% | ||
AmerisourceBergen Corp. | 1,591 | 225,179 |
Henry Schein, Inc. * | 2,393 | 183,642 |
Laboratory Corp. of America Holdings | 998 | 233,851 |
Universal Health Services, Inc., Class B | 829 | 83,467 |
726,139 | ||
Hotels, Restaurants & Leisure — 0.8% | ||
Darden Restaurants, Inc. | 597 | 67,554 |
Expedia Group, Inc. * | 438 | 41,489 |
109,043 | ||
Household Durables — 1.9% | ||
Mohawk Industries, Inc. * | 885 | 109,786 |
Newell Brands, Inc. | 8,092 | 154,078 |
263,864 | ||
Household Products — 0.4% | ||
Energizer Holdings, Inc. | 1,976 | 56,022 |
Insurance — 6.6% | ||
Alleghany Corp. * | 106 | 88,103 |
Arch Capital Group Ltd. * | 2,204 | 100,277 |
Hartford Financial Services Group, Inc. (The) | 2,390 | 156,388 |
Lincoln National Corp. | 1,925 | 90,021 |
Loews Corp. | 3,887 | 230,327 |
RenaissanceRe Holdings Ltd. (Bermuda) | 687 | 107,395 |
WR Berkley Corp. | 2,043 | 139,481 |
911,992 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Interactive Media & Services — 0.9% | ||
InterActiveCorp. * | 1,713 | 130,168 |
IT Services — 1.8% | ||
FleetCor Technologies, Inc. * | 750 | 157,561 |
GoDaddy, Inc., Class A * | 1,371 | 95,394 |
252,955 | ||
Machinery — 5.6% | ||
IDEX Corp. | 631 | 114,611 |
ITT, Inc. | 2,050 | 137,844 |
Lincoln Electric Holdings, Inc. | 1,283 | 158,265 |
Middleby Corp. (The) * | 1,032 | 129,343 |
Snap-on, Inc. (a) | 771 | 152,059 |
Timken Co. (The) | 1,583 | 83,968 |
776,090 | ||
Media — 2.0% | ||
Liberty Broadband Corp., Class C * | 1,278 | 147,855 |
Liberty Media Corp.-Liberty SiriusXM, Class C * | 3,544 | 127,749 |
275,604 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 1,639 | 47,960 |
Multiline Retail — 0.4% | ||
Kohl's Corp. | 1,396 | 49,825 |
Multi-Utilities — 3.9% | ||
CMS Energy Corp. | 3,502 | 236,367 |
Sempra Energy | 387 | 58,140 |
WEC Energy Group, Inc. | 2,434 | 244,977 |
539,484 | ||
Oil, Gas & Consumable Fuels — 2.4% | ||
Coterra Energy, Inc. | 4,237 | 109,285 |
Diamondback Energy, Inc. | 863 | 104,536 |
Williams Cos., Inc. (The) | 3,835 | 119,676 |
333,497 | ||
Personal Products — 0.3% | ||
BellRing Brands, Inc. * | 1,659 | 41,288 |
Pharmaceuticals — 0.9% | ||
Jazz Pharmaceuticals plc * | 790 | 123,199 |
Professional Services — 0.8% | ||
Leidos Holdings, Inc. | 1,141 | 114,910 |
Real Estate Management & Development — 0.8% | ||
CBRE Group, Inc., Class A * | 1,563 | 115,045 |
24 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Software — 1.1% | ||
NortonLifeLock, Inc. | 6,558 | 144,015 |
Specialty Retail — 2.6% | ||
AutoZone, Inc. * | 106 | 227,096 |
Bath & Body Works, Inc. | 1,748 | 47,057 |
Best Buy Co., Inc. | 959 | 62,540 |
Gap, Inc. (The) | 2,900 | 23,896 |
360,589 | ||
Textiles, Apparel & Luxury Goods — 2.4% | ||
Carter's, Inc. | 1,520 | 107,127 |
Ralph Lauren Corp. | 1,231 | 110,375 |
Tapestry, Inc. | 3,476 | 106,068 |
323,570 | ||
Thrifts & Mortgage Finance — 0.6% | ||
MGIC Investment Corp. | 6,841 | 86,191 |
Total Common Stocks (Cost $9,099,882) | 13,283,583 | |
Short Term Investments — 3.8% | ||
Investment Companies — 3.8% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $515,126) | 515,013 | 515,116 |
Investment of Cash Collateral from Securities Loaned — 0.0% ^ | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (b) (c) | 2,201 | 2,200 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) | 1,052 | 1,052 |
Total Investment of Cash Collateral from Securities Loaned (Cost $3,252) | 3,252 | |
Total Short Term Investments (Cost $518,378) | 518,368 | |
Total Investments — 100.0% (Cost $9,618,260) | 13,801,951 | |
Other Assets Less Liabilities — 0.0% ^ | 6,402 | |
NET ASSETS — 100.0% | 13,808,353 |
Percentages indicated are based on net assets. |
^ | Amount rounds to less than 0.1% of net assets. |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $3,211. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of June 30, 2022. |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 25 |
AS OF June 30, 2022
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 96.7% | ||
Aerospace & Defense — 2.8% | ||
General Dynamics Corp. | 319 | 70,535 |
Northrop Grumman Corp. | 164 | 78,725 |
Raytheon Technologies Corp. | 1,250 | 120,105 |
269,365 | ||
Air Freight & Logistics — 0.9% | ||
FedEx Corp. | 388 | 87,941 |
Banks — 10.8% | ||
Bank of America Corp. | 9,292 | 289,277 |
Citigroup, Inc. | 1,284 | 59,034 |
Citizens Financial Group, Inc. | 2,746 | 98,016 |
M&T Bank Corp. | 1,036 | 165,178 |
PNC Financial Services Group, Inc. (The) | 718 | 113,291 |
Truist Financial Corp. | 2,363 | 112,060 |
US Bancorp | 1,838 | 84,571 |
Wells Fargo & Co. | 2,866 | 112,270 |
1,033,697 | ||
Beverages — 0.5% | ||
Keurig Dr Pepper, Inc. | 1,214 | 42,959 |
Biotechnology — 3.3% | ||
AbbVie, Inc. | 1,310 | 200,622 |
Regeneron Pharmaceuticals, Inc. * | 98 | 57,990 |
Vertex Pharmaceuticals, Inc. * | 217 | 61,233 |
319,845 | ||
Building Products — 1.0% | ||
Carlisle Cos., Inc. | 247 | 58,892 |
Fortune Brands Home & Security, Inc. | 659 | 39,455 |
98,347 | ||
Capital Markets — 3.0% | ||
Charles Schwab Corp. (The) | 1,091 | 68,948 |
Invesco Ltd. | 2,349 | 37,882 |
Morgan Stanley | 792 | 60,242 |
Northern Trust Corp. | 683 | 65,853 |
T. Rowe Price Group, Inc. | 487 | 55,344 |
288,269 | ||
Chemicals — 0.3% | ||
Axalta Coating Systems Ltd. * | 1,234 | 27,288 |
Communications Equipment — 0.6% | ||
Cisco Systems, Inc. | 1,037 | 44,218 |
CommScope Holding Co., Inc. * | 2,493 | 15,256 |
59,474 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Construction Materials — 0.9% | ||
Martin Marietta Materials, Inc. | 296 | 88,598 |
Consumer Finance — 2.2% | ||
American Express Co. | 481 | 66,676 |
Capital One Financial Corp. | 1,372 | 142,927 |
209,603 | ||
Containers & Packaging — 1.4% | ||
Packaging Corp. of America | 594 | 81,634 |
Westrock Co. | 1,280 | 51,002 |
132,636 | ||
Diversified Financial Services — 2.2% | ||
Berkshire Hathaway, Inc., Class B * | 767 | 209,543 |
Diversified Telecommunication Services — 1.6% | ||
Verizon Communications, Inc. | 2,970 | 150,721 |
Electric Utilities — 4.0% | ||
American Electric Power Co., Inc. | 539 | 51,742 |
Edison International | 821 | 51,908 |
Entergy Corp. (a) | 503 | 56,647 |
NextEra Energy, Inc. | 897 | 69,510 |
PG&E Corp. * | 3,941 | 39,328 |
Xcel Energy, Inc. | 1,592 | 112,611 |
381,746 | ||
Electrical Equipment — 0.5% | ||
Eaton Corp. plc | 359 | 45,256 |
Electronic Equipment, Instruments & Components — 0.7% | ||
TD SYNNEX Corp. | 724 | 65,977 |
Entertainment — 0.2% | ||
Walt Disney Co. (The) * | 245 | 23,128 |
Equity Real Estate Investment Trusts (REITs) — 6.8% | ||
American Homes 4 Rent, Class A | 1,818 | 64,440 |
Apple Hospitality REIT, Inc. | 2,175 | 31,900 |
Brixmor Property Group, Inc. | 3,075 | 62,152 |
Federal Realty OP LP | 490 | 46,951 |
JBG SMITH Properties | 1,548 | 36,602 |
Kimco Realty Corp. | 4,097 | 81,005 |
Lamar Advertising Co., Class A | 441 | 38,786 |
Mid-America Apartment Communities, Inc. | 354 | 61,806 |
Public Storage | 83 | 26,014 |
Rayonier, Inc. | 1,864 | 69,668 |
26 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Equity Real Estate Investment Trusts (REITs) — continued | ||
Welltower, Inc. | 358 | 29,481 |
Weyerhaeuser Co. | 3,167 | 104,878 |
653,683 | ||
Food & Staples Retailing — 1.0% | ||
Albertsons Cos., Inc., Class A | 1,135 | 30,327 |
Sysco Corp. | 783 | 66,362 |
96,689 | ||
Food Products — 1.8% | ||
Kraft Heinz Co. (The) | 2,289 | 87,283 |
Post Holdings, Inc. * | 1,082 | 89,124 |
176,407 | ||
Health Care Equipment & Supplies — 0.9% | ||
Medtronic plc | 523 | 46,945 |
Zimmer Biomet Holdings, Inc. | 364 | 38,242 |
85,187 | ||
Health Care Providers & Services — 5.1% | ||
AmerisourceBergen Corp. | 743 | 105,120 |
Cigna Corp. | 224 | 59,107 |
CVS Health Corp. | 1,315 | 121,866 |
HCA Healthcare, Inc. | 285 | 47,921 |
Laboratory Corp. of America Holdings | 236 | 55,192 |
UnitedHealth Group, Inc. | 193 | 99,097 |
488,303 | ||
Hotels, Restaurants & Leisure — 0.8% | ||
Booking Holdings, Inc. * | 23 | 39,177 |
Texas Roadhouse, Inc. | 558 | 40,853 |
80,030 | ||
Household Durables — 1.3% | ||
Mohawk Industries, Inc. * | 530 | 65,817 |
Newell Brands, Inc. | 3,223 | 61,357 |
127,174 | ||
Household Products — 1.5% | ||
Energizer Holdings, Inc. | 1,548 | 43,899 |
Procter & Gamble Co. (The) | 688 | 98,904 |
142,803 | ||
Industrial Conglomerates — 0.6% | ||
Honeywell International, Inc. | 353 | 61,306 |
Insurance — 8.5% | ||
Alleghany Corp. * | 85 | 70,560 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Insurance — continued | ||
American International Group, Inc. | 688 | 35,198 |
Chubb Ltd. | 429 | 84,342 |
CNA Financial Corp. | 729 | 32,719 |
Fairfax Financial Holdings Ltd. (Canada) | 139 | 73,611 |
Hartford Financial Services Group, Inc. (The) | 1,024 | 66,979 |
Loews Corp. | 2,818 | 167,018 |
Marsh & McLennan Cos., Inc. | 284 | 44,066 |
Progressive Corp. (The) | 627 | 72,866 |
Travelers Cos., Inc. (The) | 967 | 163,662 |
811,021 | ||
Interactive Media & Services — 1.4% | ||
Alphabet, Inc., Class C * | 22 | 47,687 |
InterActiveCorp. * | 521 | 39,618 |
Meta Platforms, Inc., Class A * | 293 | 47,198 |
134,503 | ||
IT Services — 1.4% | ||
FleetCor Technologies, Inc. * | 243 | 51,057 |
International Business Machines Corp. | 579 | 81,749 |
132,806 | ||
Machinery — 2.3% | ||
Dover Corp. | 694 | 84,221 |
ITT, Inc. | 589 | 39,571 |
Middleby Corp. (The) * | 277 | 34,725 |
Stanley Black & Decker, Inc. | 274 | 28,742 |
Timken Co. (The) | 530 | 28,106 |
215,365 | ||
Media — 2.1% | ||
DISH Network Corp., Class A * | 1,769 | 31,724 |
Liberty Broadband Corp., Class C * | 602 | 69,581 |
Liberty Media Corp.-Liberty SiriusXM, Class C * | 1,642 | 59,187 |
Nexstar Media Group, Inc., Class A | 252 | 41,015 |
201,507 | ||
Multiline Retail — 1.3% | ||
Dollar General Corp. | 357 | 87,647 |
Kohl's Corp. | 991 | 35,361 |
123,008 | ||
Oil, Gas & Consumable Fuels — 7.5% | ||
Chevron Corp. | 1,101 | 159,446 |
ConocoPhillips | 1,785 | 160,281 |
Coterra Energy, Inc. | 3,322 | 85,687 |
Diamondback Energy, Inc. | 315 | 38,150 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 27 |
AS OF June 30, 2022 (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
Kinder Morgan, Inc. | 4,491 | 75,266 |
Marathon Petroleum Corp. | 544 | 44,690 |
Phillips 66 | 862 | 70,723 |
Williams Cos., Inc. (The) | 2,577 | 80,419 |
714,662 | ||
Personal Products — 0.4% | ||
BellRing Brands, Inc. * | 1,437 | 35,767 |
Pharmaceuticals — 4.5% | ||
Bristol-Myers Squibb Co. | 2,680 | 206,330 |
Johnson & Johnson | 775 | 137,645 |
Merck & Co., Inc. | 711 | 64,780 |
Organon & Co. | 727 | 24,548 |
433,303 | ||
Professional Services — 0.5% | ||
Leidos Holdings, Inc. | 512 | 51,543 |
Real Estate Management & Development — 0.6% | ||
CBRE Group, Inc., Class A * | 813 | 59,874 |
Road & Rail — 0.3% | ||
Norfolk Southern Corp. | 138 | 31,457 |
Semiconductors & Semiconductor Equipment — 2.1% | ||
Analog Devices, Inc. | 476 | 69,524 |
NXP Semiconductors NV (China) | 277 | 41,004 |
Texas Instruments, Inc. | 603 | 92,600 |
203,128 | ||
Specialty Retail — 4.6% | ||
AutoZone, Inc. * | 72 | 154,423 |
Bath & Body Works, Inc. | 985 | 26,519 |
Best Buy Co., Inc. | 605 | 39,451 |
Dick's Sporting Goods, Inc. (a) | 807 | 60,786 |
Gap, Inc. (The) | 2,096 | 17,273 |
Lowe's Cos., Inc. | 436 | 76,174 |
Murphy USA, Inc. | 268 | 62,413 |
437,039 | ||
Textiles, Apparel & Luxury Goods — 1.0% | ||
Columbia Sportswear Co. | 716 | 51,223 |
Ralph Lauren Corp. | 491 | 44,036 |
95,259 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Tobacco — 0.8% | ||
Philip Morris International, Inc. | 735 | 72,574 |
Wireless Telecommunication Services — 0.7% | ||
T-Mobile US, Inc. * | 470 | 63,288 |
Total Common Stocks (Cost $6,559,703) | 9,262,079 | |
Short Term Investments — 4.1% | ||
Investment Companies — 3.5% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (b) (c) (Cost $338,709) | 338,651 | 338,719 |
Investment of Cash Collateral from Securities Loaned — 0.6% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (b) (c) | 47,081 | 47,053 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (b) (c) | 6,257 | 6,257 |
Total Investment of Cash Collateral from Securities Loaned (Cost $53,312) | 53,310 | |
Total Short Term Investments (Cost $392,021) | 392,029 | |
Total Investments — 100.8% (Cost $6,951,724) | 9,654,108 | |
Liabilities in Excess of Other Assets — (0.8)% | (77,974) | |
NET ASSETS — 100.0% | 9,576,134 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at June 30, 2022. The total value of securities on loan at June 30, 2022 is $51,393. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of June 30, 2022. |
28 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
AS OF June 30, 2022
(Amounts in thousands, except per share amounts)
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | JPMorgan Mid Cap Growth Fund | |
ASSETS: | |||
Investments in non-affiliates, at value | $11,827,053 | $2,530,688 | $6,732,818 |
Investments in affiliates, at value | 269,734 | 96,464 | 260,555 |
Investments of cash collateral received from securities loaned, at value (See Note 2.B) | 113,709 | 9,503 | 60,741 |
Cash | 135 | 81 | 202 |
Foreign currency, at value | 55 | — | — |
Receivables: | |||
Due from custodian | — | 1,565 | — |
Investment securities sold | — | 32 | 242 |
Fund shares sold | 11,662 | 4,650 | 9,460 |
Dividends from non-affiliates | 1,597 | 3,436 | 961 |
Dividends from affiliates | 11 | 4 | 11 |
Securities lending income (See Note 2.B) | 2 | 1 | 8 |
Other assets | — | 19 | — |
Total Assets | 12,223,958 | 2,646,443 | 7,064,998 |
LIABILITIES: | |||
Payables: | |||
Investment securities purchased | 9,821 | 3,075 | 11,290 |
Collateral received on securities loaned (See Note 2.B) | 113,709 | 9,503 | 60,741 |
Fund shares redeemed | 10,748 | 2,688 | 8,035 |
Accrued liabilities: | |||
Investment advisory fees | 5,120 | 1,256 | 3,596 |
Administration fees | 315 | 51 | 298 |
Distribution fees | 1,025 | 121 | 308 |
Service fees | 1,354 | 284 | 471 |
Custodian and accounting fees | 79 | 18 | 47 |
Trustees’ and Chief Compliance Officer’s fees | — | —(a) | — |
Other | 470 | 59 | 313 |
Total Liabilities | 142,641 | 17,055 | 85,099 |
Net Assets | $12,081,317 | $2,629,388 | $6,979,899 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 29 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | JPMorgan Mid Cap Growth Fund | |
NET ASSETS: | |||
Paid-in-Capital | $8,556,152 | $2,174,127 | $6,613,107 |
Total distributable earnings (loss) | 3,525,165 | 455,261 | 366,792 |
Total Net Assets: | $12,081,317 | $2,629,388 | $6,979,899 |
Net Assets: | |||
Class A | $2,362,435 | $526,401 | $1,119,928 |
Class C | 798,037 | 13,761 | 67,482 |
Class I | 3,376,110 | 802,716 | 1,403,485 |
Class R2 | 4,972 | 552 | 42,153 |
Class R3 | 13,221 | — | 36,455 |
Class R4 | 15,452 | — | 19,437 |
Class R5 | 103,367 | 1 | 448,298 |
Class R6 | 5,407,723 | 1,285,957 | 3,842,661 |
Total | $12,081,317 | $2,629,388 | $6,979,899 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | |||
Class A | 104,883 | 10,953 | 37,862 |
Class C | 44,546 | 307 | 3,399 |
Class I | 141,957 | 16,319 | 38,321 |
Class R2 | 224 | 12 | 1,279 |
Class R3 | 588 | — | 1,019 |
Class R4 | 649 | — | 533 |
Class R5 | 4,204 | — | 11,980 |
Class R6 | 217,390 | 26,072 | 101,859 |
Net Asset Value (a): | |||
Class A — Redemption price per share | $22.52 | $48.06 | $29.58 |
Class C — Offering price per share (b) | 17.91 | 44.88 | 19.86 |
Class I — Offering and redemption price per share | 23.78 | 49.19 | 36.62 |
Class R2 — Offering and redemption price per share | 22.14 | 47.19 | 32.93 |
Class R3 — Offering and redemption price per share | 22.48 | — | 35.80 |
Class R4 — Offering and redemption price per share | 23.79 | — | 36.47 |
Class R5 — Offering and redemption price per share | 24.59 | 49.42 | 37.42 |
Class R6 — Offering and redemption price per share | 24.88 | 49.32 | 37.73 |
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)] | $23.77 | $50.72 | $31.22 |
Cost of investments in non-affiliates | $8,268,517 | $2,119,219 | $6,358,755 |
Cost of investments in affiliates | 269,719 | 96,450 | 260,535 |
Cost of foreign currency | 55 | — | — |
Investment securities on loan, at value (See Note 2.B) | 109,523 | 9,131 | 58,035 |
Cost of investment of cash collateral (See Note 2.B) | 113,710 | 9,503 | 60,742 |
30 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
ASSETS: | ||
Investments in non-affiliates, at value | $13,283,583 | $9,262,079 |
Investments in affiliates, at value | 515,116 | 338,719 |
Investments of cash collateral received from securities loaned, at value (See Note 2.B) | 3,252 | 53,310 |
Cash | 403 | 214 |
Receivables: | ||
Investment securities sold | — | 18,132 |
Fund shares sold | 8,836 | 5,326 |
Dividends from non-affiliates | 27,635 | 11,644 |
Dividends from affiliates | 22 | 14 |
Securities lending income (See Note 2.B) | —(a) | 5 |
Total Assets | 13,838,847 | 9,689,443 |
LIABILITIES: | ||
Payables: | ||
Investment securities purchased | — | 47,917 |
Collateral received on securities loaned (See Note 2.B) | 3,252 | 53,310 |
Fund shares redeemed | 17,633 | 6,207 |
Accrued liabilities: | ||
Investment advisory fees | 7,218 | 4,010 |
Administration fees | 428 | 335 |
Distribution fees | 367 | 415 |
Service fees | 1,364 | 830 |
Custodian and accounting fees | 87 | 55 |
Other | 145 | 230 |
Total Liabilities | 30,494 | 113,309 |
Net Assets | $13,808,353 | $9,576,134 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 31 |
AS OF June 30, 2022 (continued)
(Amounts in thousands, except per share amounts)
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
NET ASSETS: | ||
Paid-in-Capital | $8,479,227 | $6,303,345 |
Total distributable earnings (loss) | 5,329,126 | 3,272,789 |
Total Net Assets: | $13,808,353 | $9,576,134 |
Net Assets: | ||
Class A | $1,203,015 | $1,101,144 |
Class C | 61,031 | 281,613 |
Class I | 2,276,870 | 2,039,492 |
Class L | 6,586,299 | 1,653,596 |
Class R2 | 59,842 | 292 |
Class R3 | 69,915 | 2,845 |
Class R4 | 22,574 | 118 |
Class R5 | 48,283 | 1,178 |
Class R6 | 3,480,524 | 4,495,856 |
Total | $13,808,353 | $9,576,134 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | ||
Class A | 34,472 | 30,542 |
Class C | 1,844 | 7,843 |
Class I | 64,172 | 56,168 |
Class L | 182,483 | 45,480 |
Class R2 | 1,822 | 8 |
Class R3 | 2,026 | 80 |
Class R4 | 640 | 3 |
Class R5 | 1,340 | 33 |
Class R6 | 96,450 | 123,780 |
Net Asset Value (a): | ||
Class A — Redemption price per share | $34.90 | $36.05 |
Class C — Offering price per share (b) | 33.10 | 35.91 |
Class I — Offering and redemption price per share | 35.48 | 36.31 |
Class L — Offering and redemption price per share | 36.09 | 36.36 |
Class R2 — Offering and redemption price per share | 32.84 | 35.56 |
Class R3 — Offering and redemption price per share | 34.49 | 35.51 |
Class R4 — Offering and redemption price per share | 35.29 | 36.30 |
Class R5 — Offering and redemption price per share | 36.03 | 36.30 |
Class R6 — Offering and redemption price per share | 36.09 | 36.32 |
Class A maximum sales charge | 5.25% | 5.25% |
Class A maximum public offering price per share [net asset value per share/(100% – maximum sales charge)] | $36.83 | $38.05 |
Cost of investments in non-affiliates | $9,099,882 | $6,559,703 |
Cost of investments in affiliates | 515,126 | 338,709 |
Investment securities on loan, at value (See Note 2.B) | 3,211 | 51,393 |
Cost of investment of cash collateral (See Note 2.B) | 3,252 | 53,312 |
32 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
FOR THE YEAR ENDED June 30, 2022
(Amounts in thousands)
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | JPMorgan Mid Cap Growth Fund | |
INVESTMENT INCOME: | |||
Interest income from non-affiliates | $— | $— | $— |
Interest income from affiliates | —(a) | — | 1 |
Dividend income from non-affiliates | 80,260 | 36,008 | 34,301 |
Dividend income from affiliates | 527 | 258 | 580 |
Income from securities lending (net) (See Note 2.B) | 266 | 58 | 345 |
Total investment income | 81,053 | 36,324 | 35,227 |
EXPENSES: | |||
Investment advisory fees | 82,715 | 19,173 | 56,737 |
Administration fees | 9,993 | 2,212 | 6,546 |
Distribution fees: | |||
Class A | 7,533 | 1,511 | 3,774 |
Class C | 8,438 | 138 | 727 |
Class R2 | 5 | 3 | 265 |
Class R3 | 19 | — | 145 |
Service fees: | |||
Class A | 7,533 | 1,511 | 3,774 |
Class C | 2,813 | 46 | 242 |
Class I | 11,197 | 2,357 | 4,553 |
Class R2 | 2 | 2 | 133 |
Class R3 | 19 | — | 145 |
Class R4 | 50 | — | 58 |
Class R5 | 136 | —(a) | 650 |
Custodian and accounting fees | 465 | 108 | 282 |
Professional fees | 140 | 68 | 106 |
Trustees’ and Chief Compliance Officer’s fees | 68 | 34 | 50 |
Printing and mailing costs | 679 | 394 | 432 |
Registration and filing fees | 745 | 235 | 663 |
Transfer agency fees (See Note 2.F) | 325 | 56 | 393 |
Other | 704 | 261 | 341 |
Total expenses | 133,579 | 28,109 | 80,016 |
Less fees waived | (9,073) | (3,521) | (4,977) |
Less expense reimbursements | (6) | (8) | (32) |
Net expenses | 124,500 | 24,580 | 75,007 |
Net investment income (loss) | (43,447) | 11,744 | (39,780) |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 33 |
FOR THE YEAR ENDED June 30, 2022 (continued)
(Amounts in thousands)
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | JPMorgan Mid Cap Growth Fund | |
REALIZED/UNREALIZED GAINS (LOSSES): | |||
Net realized gain (loss) on transactions from: | |||
Investments in non-affiliates | $300,465 | $111,915 | $157,284 |
Investments in affiliates | (64) | (31) | (66) |
Foreign currency transactions | 1 | — | —(a) |
Net realized gain (loss) | 300,402 | 111,884 | 157,218 |
Change in net unrealized appreciation/depreciation on: | |||
Investments in non-affiliates | (3,767,899) | (623,208) | (2,850,898) |
Investments in affiliates | (7) | 8 | 20 |
Foreign currency translations | 1 | — | — |
Change in net unrealized appreciation/depreciation | (3,767,905) | (623,200) | (2,850,878) |
Net realized/unrealized gains (losses) | (3,467,503) | (511,316) | (2,693,660) |
Change in net assets resulting from operations | $(3,510,950) | $(499,572) | $(2,733,440) |
34 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
INVESTMENT INCOME: | ||
Interest income from non-affiliates | $— | $— |
Dividend income from non-affiliates | 288,969 | 219,918 |
Dividend income from affiliates | 847 | 614 |
Income from securities lending (net) (See Note 2.B) | 37 | 56 |
Total investment income | 289,853 | 220,588 |
EXPENSES: | ||
Investment advisory fees | 107,918 | 59,060 |
Administration fees | 10,758 | 7,836 |
Distribution fees: | ||
Class A | 3,996 | 2,797 |
Class C | 554 | 2,481 |
Class R2 | 355 | 2 |
Class R3 | 210 | 7 |
Service fees: | ||
Class A | 3,996 | 2,797 |
Class C | 185 | 827 |
Class I | 7,088 | 5,900 |
Class L | 7,710 | 1,870 |
Class R2 | 178 | — |
Class R3 | 210 | 7 |
Class R4 | 66 | 3 |
Class R5 | 82 | 1 |
Custodian and accounting fees | 529 | 344 |
Professional fees | 155 | 116 |
Trustees’ and Chief Compliance Officer’s fees | 73 | 56 |
Printing and mailing costs | 557 | 369 |
Registration and filing fees | 336 | 303 |
Transfer agency fees (See Note 2.F) | 229 | 187 |
Other | 931 | 407 |
Total expenses | 146,116 | 85,370 |
Less fees waived | (10,826) | (6,468) |
Less expense reimbursements | (72) | (30) |
Net expenses | 135,218 | 78,872 |
Net investment income (loss) | 154,635 | 141,716 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 35 |
FOR THE YEAR ENDED June 30, 2022 (continued)
(Amounts in thousands)
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
REALIZED/UNREALIZED GAINS (LOSSES): | ||
Net realized gain (loss) on transactions from: | ||
Investments in non-affiliates | $1,794,415 | $928,511 |
Investments in affiliates | (100) | (44) |
Net realized gain (loss) | 1,794,315 | 928,467 |
Change in net unrealized appreciation/depreciation on: | ||
Investments in non-affiliates | (3,009,552) | (1,355,508) |
Investments in affiliates | (8) | 11 |
Change in net unrealized appreciation/depreciation | (3,009,560) | (1,355,497) |
Net realized/unrealized gains (losses) | (1,215,245) | (427,030) |
Change in net assets resulting from operations | $(1,060,610) | $(285,314) |
36 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
FOR THE PERIODS INDICATED
(Amounts in thousands)
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $(43,447) | $(38,687) | $11,744 | $5,871 |
Net realized gain (loss) | 300,402 | 2,615,524 | 111,884 | 236,501 |
Change in net unrealized appreciation/depreciation | (3,767,905) | 2,518,044 | (623,200) | 551,887 |
Change in net assets resulting from operations | (3,510,950) | 5,094,881 | (499,572) | 794,259 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (450,846) | (248,914) | (45,467) | (51,016) |
Class C | (205,934) | (129,471) | (1,466) | (2,405) |
Class I | (627,636) | (360,812) | (74,927) | (43,367) |
Class R2 | (97) | (32) | (46) | (76) |
Class R3 | (738) | (192) | — | — |
Class R4 | (2,743) | (1,887) | — | — |
Class R5 | (18,769) | (12,763) | (6) | (111) |
Class R6 | (865,471) | (579,464) | (105,308) | (120,036) |
Total distributions to shareholders | (2,172,234) | (1,333,535) | (227,220) | (217,011) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 2,985,664 | 207,286 | 530,638 | 611,112 |
NET ASSETS: | ||||
Change in net assets | (2,697,520) | 3,968,632 | (196,154) | 1,188,360 |
Beginning of period | 14,778,837 | 10,810,205 | 2,825,542 | 1,637,182 |
End of period | $12,081,317 | $14,778,837 | $2,629,388 | $2,825,542 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 37 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $(39,780) | $(38,812) | $154,635 | $127,797 |
Net realized gain (loss) | 157,218 | 977,630 | 1,794,315 | 1,768,173 |
Change in net unrealized appreciation/depreciation | (2,850,878) | 1,605,407 | (3,009,560) | 4,261,488 |
Change in net assets resulting from operations | (2,733,440) | 2,544,225 | (1,060,610) | 6,157,458 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (164,928) | (173,779) | (219,981) | (92,478) |
Class C | (15,295) | (16,088) | (10,363) | (5,006) |
Class I | (164,559) | (173,836) | (392,788) | (197,658) |
Class L | — | — | (1,064,675) | (492,109) |
Class R2 | (5,456) | (5,377) | (10,249) | (4,986) |
Class R3 | (6,561) | (5,883) | (11,581) | (5,364) |
Class R4 | (1,915) | (1,774) | (4,055) | (2,242) |
Class R5 | (56,755) | (63,349) | (11,564) | (5,676) |
Class R6 | (391,225) | (329,350) | (571,247) | (264,623) |
Total distributions to shareholders | (806,694) | (769,436) | (2,296,503) | (1,070,142) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 1,447,269 | 1,816,908 | 114,829 | (751,266) |
NET ASSETS: | ||||
Change in net assets | (2,092,865) | 3,591,697 | (3,242,284) | 4,336,050 |
Beginning of period | 9,072,764 | 5,481,067 | 17,050,637 | 12,714,587 |
End of period | $6,979,899 | $9,072,764 | $13,808,353 | $17,050,637 |
38 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
JPMorgan Value Advantage Fund | ||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||
Net investment income (loss) | $141,716 | $124,916 |
Net realized gain (loss) | 928,467 | 961,470 |
Change in net unrealized appreciation/depreciation | (1,355,497) | 2,800,518 |
Change in net assets resulting from operations | (285,314) | 3,886,904 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||
Class A | (139,510) | (23,476) |
Class C | (40,783) | (7,055) |
Class I | (309,038) | (72,893) |
Class L | (243,763) | (53,516) |
Class R2 | (32) | (7) |
Class R3 | (427) | (63) |
Class R4 | (206) | (1,188) |
Class R5 | (180) | (145) |
Class R6 | (643,793) | (133,423) |
Total distributions to shareholders | (1,377,732) | (291,766) |
CAPITAL TRANSACTIONS: | ||
Change in net assets resulting from capital transactions | 87,864 | (1,143,741) |
NET ASSETS: | ||
Change in net assets | (1,575,182) | 2,451,397 |
Beginning of period | 11,151,316 | 8,699,919 |
End of period | $9,576,134 | $11,151,316 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 39 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $559,491 | $617,307 | $120,225 | $108,793 |
Distributions reinvested | 434,059 | 240,271 | 45,435 | 50,959 |
Cost of shares redeemed | (501,025) | (591,206) | (84,870) | (103,045) |
Change in net assets resulting from Class A capital transactions | 492,525 | 266,372 | 80,790 | 56,707 |
Class C | ||||
Proceeds from shares issued | 126,560 | 163,112 | 1,834 | 1,523 |
Distributions reinvested | 200,976 | 125,552 | 1,462 | 2,405 |
Cost of shares redeemed | (297,542) | (301,892) | (7,072) | (8,655) |
Change in net assets resulting from Class C capital transactions | 29,994 | (13,228) | (3,776) | (4,727) |
Class I | ||||
Proceeds from shares issued | 1,433,710 | 1,479,235 | 415,855 | 599,516 |
Distributions reinvested | 592,526 | 337,895 | 74,821 | 43,123 |
Cost of shares redeemed | (1,638,548) | (1,078,748) | (344,560) | (236,107) |
Change in net assets resulting from Class I capital transactions | 387,688 | 738,382 | 146,116 | 406,532 |
Class R2 | ||||
Proceeds from shares issued | 4,940 | 300 | 144 | 191 |
Distributions reinvested | 96 | 32 | 43 | 73 |
Cost of shares redeemed | (63) | (154) | (40) | (535) |
Change in net assets resulting from Class R2 capital transactions | 4,973 | 178 | 147 | (271) |
Class R3 | ||||
Proceeds from shares issued | 13,837 | 3,643 | — | — |
Distributions reinvested | 628 | 163 | — | — |
Cost of shares redeemed | (2,665) | (434) | — | — |
Change in net assets resulting from Class R3 capital transactions | 11,800 | 3,372 | — | — |
Class R4 | ||||
Proceeds from shares issued | 2,734 | 2,600 | — | — |
Distributions reinvested | 2,743 | 1,886 | — | — |
Cost of shares redeemed | (5,634) | (5,512) | — | — |
Change in net assets resulting from Class R4 capital transactions | (157) | (1,026) | — | — |
Class R5 | ||||
Proceeds from shares issued | 26,209 | 22,343 | 11 | 272 |
Distributions reinvested | 18,390 | 12,555 | 6 | 111 |
Cost of shares redeemed | (34,294) | (70,249) | (82) | (1,462) |
Change in net assets resulting from Class R5 capital transactions | 10,305 | (35,351) | (65) | (1,079) |
40 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $2,520,752 | $1,205,957 | $465,999 | $334,403 |
Distributions reinvested | 863,104 | 578,133 | 105,241 | 119,998 |
Cost of shares redeemed | (1,335,320) | (2,535,503) | (263,814) | (300,451) |
Change in net assets resulting from Class R6 capital transactions | 2,048,536 | (751,413) | 307,426 | 153,950 |
Total change in net assets resulting from capital transactions | $2,985,664 | $207,286 | $530,638 | $611,112 |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 18,429 | 20,460 | 2,069 | 1,925 |
Reinvested | 13,885 | 8,308 | 776 | 961 |
Redeemed | (16,974) | (19,686) | (1,473) | (1,903) |
Change in Class A Shares | 15,340 | 9,082 | 1,372 | 983 |
Class C | ||||
Issued | 5,063 | 6,449 | 34 | 28 |
Reinvested | 8,062 | 5,236 | 27 | 48 |
Redeemed | (12,340) | (11,926) | (127) | (165) |
Change in Class C Shares | 785 | (241) | (66) | (89) |
Class I | ||||
Issued | 46,780 | 46,557 | 6,894 | 10,207 |
Reinvested | 17,977 | 11,160 | 1,248 | 795 |
Redeemed | (54,133) | (33,943) | (5,803) | (4,122) |
Change in Class I Shares | 10,624 | 23,774 | 2,339 | 6,880 |
Class R2 | ||||
Issued | 208 | 9 | 3 | 3 |
Reinvested | 3 | 1 | 1 | 2 |
Redeemed | (2) | (5) | (1) | (9) |
Change in Class R2 Shares | 209 | 5 | 3 | (4) |
Class R3 | ||||
Issued | 502 | 116 | — | — |
Reinvested | 20 | 6 | — | — |
Redeemed | (85) | (14) | — | — |
Change in Class R3 Shares | 437 | 108 | — | — |
Class R4 | ||||
Issued | 90 | 81 | — | — |
Reinvested | 83 | 62 | — | — |
Redeemed | (165) | (177) | — | — |
Change in Class R4 Shares | 8 | (34) | — | — |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 41 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R5 | ||||
Issued | 797 | 696 | — | 5 |
Reinvested | 540 | 403 | — | 2 |
Redeemed | (1,041) | (2,158) | (1) | (24) |
Change in Class R5 Shares | 296 | (1,059) | (1) | (17) |
Class R6 | ||||
Issued | 76,238 | 36,597 | 7,990 | 5,844 |
Reinvested | 25,068 | 18,399 | 1,751 | 2,206 |
Redeemed | (41,492) | (76,164) | (4,449) | (5,296) |
Change in Class R6 Shares | 59,814 | (21,168) | 5,292 | 2,754 |
42 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $193,417 | $269,885 | $231,582 | $312,241 |
Distributions reinvested | 159,203 | 168,194 | 205,806 | 84,258 |
Cost of shares redeemed | (247,726) | (265,651) | (503,800) | (421,860) |
Change in net assets resulting from Class A capital transactions | 104,894 | 172,428 | (66,412) | (25,361) |
Class C | ||||
Proceeds from shares issued | 16,113 | 18,817 | 11,733 | 11,152 |
Distributions reinvested | 15,070 | 15,598 | 10,091 | 4,875 |
Cost of shares redeemed | (28,440) | (29,254) | (21,161) | (50,512) |
Change in net assets resulting from Class C capital transactions | 2,743 | 5,161 | 663 | (34,485) |
Class I | ||||
Proceeds from shares issued | 567,054 | 807,758 | 548,260 | 944,499 |
Distributions reinvested | 155,839 | 163,157 | 372,132 | 187,286 |
Cost of shares redeemed | (609,174) | (572,464) | (1,137,558) | (1,167,802) |
Change in net assets resulting from Class I capital transactions | 113,719 | 398,451 | (217,166) | (36,017) |
Class L | ||||
Proceeds from shares issued | — | — | 993,214 | 1,079,544 |
Distributions reinvested | — | — | 1,015,481 | 466,015 |
Cost of shares redeemed | — | — | (1,694,626) | (2,003,837) |
Change in net assets resulting from Class L capital transactions | — | — | 314,069 | (458,278) |
Class R2 | ||||
Proceeds from shares issued | 18,906 | 19,596 | 9,585 | 11,087 |
Distributions reinvested | 5,446 | 5,366 | 10,195 | 4,944 |
Cost of shares redeemed | (16,727) | (18,633) | (15,727) | (26,032) |
Change in net assets resulting from Class R2 capital transactions | 7,625 | 6,329 | 4,053 | (10,001) |
Class R3 | ||||
Proceeds from shares issued | 23,135 | 27,679 | 8,559 | 10,318 |
Distributions reinvested | 6,481 | 5,811 | 10,954 | 5,120 |
Cost of shares redeemed | (41,250) | (19,436) | (20,468) | (16,546) |
Change in net assets resulting from Class R3 capital transactions | (11,634) | 14,054 | (955) | (1,108) |
Class R4 | ||||
Proceeds from shares issued | 14,507 | 15,324 | 11,063 | 29,189 |
Distributions reinvested | 1,915 | 1,774 | 4,055 | 2,242 |
Cost of shares redeemed | (11,022) | (9,549) | (18,919) | (36,170) |
Change in net assets resulting from Class R4 capital transactions | 5,400 | 7,549 | (3,801) | (4,739) |
Class R5 | ||||
Proceeds from shares issued | 107,972 | 169,023 | 24,053 | 15,455 |
Distributions reinvested | 53,207 | 59,609 | 11,552 | 5,671 |
Cost of shares redeemed | (193,440) | (178,446) | (62,665) | (28,691) |
Change in net assets resulting from Class R5 capital transactions | (32,261) | 50,186 | (27,060) | (7,565) |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 43 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $1,866,097 | $1,731,741 | $873,051 | $880,233 |
Distributions reinvested | 387,715 | 326,519 | 531,604 | 243,857 |
Cost of shares redeemed | (997,029) | (895,510) | (1,293,217) | (1,297,802) |
Change in net assets resulting from Class R6 capital transactions | 1,256,783 | 1,162,750 | 111,438 | (173,712) |
Total change in net assets resulting from capital transactions | $1,447,269 | $1,816,908 | $114,829 | $(751,266) |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 4,766 | 6,348 | 5,644 | 8,294 |
Reinvested | 3,841 | 4,077 | 5,251 | 2,357 |
Redeemed | (6,293) | (6,207) | (13,249) | (11,461) |
Change in Class A Shares | 2,314 | 4,218 | (2,354) | (810) |
Class C | ||||
Issued | 551 | 609 | 302 | 302 |
Reinvested | 540 | 533 | 272 | 143 |
Redeemed | (1,052) | (951) | (551) | (1,473) |
Change in Class C Shares | 39 | 191 | 23 | (1,028) |
Class I | ||||
Issued | 12,070 | 15,656 | 13,456 | 26,465 |
Reinvested | 3,041 | 3,271 | 9,337 | 5,165 |
Redeemed | (12,606) | (11,073) | (27,722) | (31,205) |
Change in Class I Shares | 2,505 | 7,854 | (4,929) | 425 |
Class L | ||||
Issued | — | — | 23,576 | 27,115 |
Reinvested | — | — | 25,025 | 12,656 |
Redeemed | — | — | (40,417) | (52,480) |
Change in Class L Shares | — | — | 8,184 | (12,709) |
Class R2 | ||||
Issued | 405 | 411 | 245 | 308 |
Reinvested | 118 | 118 | 276 | 146 |
Redeemed | (366) | (395) | (413) | (735) |
Change in Class R2 Shares | 157 | 134 | 108 | (281) |
Class R3 | ||||
Issued | 461 | 550 | 211 | 273 |
Reinvested | 129 | 118 | 283 | 145 |
Redeemed | (856) | (384) | (506) | (451) |
Change in Class R3 Shares | (266) | 284 | (12) | (33) |
44 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R4 | ||||
Issued | 301 | 299 | 274 | 772 |
Reinvested | 38 | 36 | 102 | 62 |
Redeemed | (218) | (183) | (462) | (892) |
Change in Class R4 Shares | 121 | 152 | (86) | (58) |
Class R5 | ||||
Issued | 2,162 | 3,227 | 576 | 389 |
Reinvested | 1,017 | 1,172 | 285 | 154 |
Redeemed | (4,010) | (3,436) | (1,507) | (723) |
Change in Class R5 Shares | (831) | 963 | (646) | (180) |
Class R6 | ||||
Issued | 37,457 | 32,743 | 20,888 | 22,671 |
Reinvested | 7,351 | 6,379 | 13,105 | 6,625 |
Redeemed | (20,244) | (17,096) | (30,623) | (33,322) |
Change in Class R6 Shares | 24,564 | 22,026 | 3,370 | (4,026) |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 45 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Value Advantage Fund | ||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: | ||
Class A | ||
Proceeds from shares issued | $299,267 | $228,457 |
Distributions reinvested | 131,124 | 21,985 |
Cost of shares redeemed | (192,533) | (256,183) |
Change in net assets resulting from Class A capital transactions | 237,858 | (5,741) |
Class C | ||
Proceeds from shares issued | 51,018 | 42,809 |
Distributions reinvested | 40,129 | 6,902 |
Cost of shares redeemed | (106,948) | (152,617) |
Change in net assets resulting from Class C capital transactions | (15,801) | (102,906) |
Class I | ||
Proceeds from shares issued | 667,039 | 632,458 |
Distributions reinvested | 281,851 | 67,804 |
Cost of shares redeemed | (866,946) | (1,288,594) |
Change in net assets resulting from Class I capital transactions | 81,944 | (588,332) |
Class L | ||
Proceeds from shares issued | 340,532 | 329,055 |
Distributions reinvested | 234,993 | 51,517 |
Cost of shares redeemed | (477,379) | (753,164) |
Change in net assets resulting from Class L capital transactions | 98,146 | (372,592) |
Class R2 | ||
Proceeds from shares issued | 129 | 81 |
Distributions reinvested | 33 | 7 |
Cost of shares redeemed | (13) | (144) |
Change in net assets resulting from Class R2 capital transactions | 149 | (56) |
Class R3 | ||
Proceeds from shares issued | 1,173 | 1,146 |
Distributions reinvested | 338 | 51 |
Cost of shares redeemed | (1,128) | (488) |
Change in net assets resulting from Class R3 capital transactions | 383 | 709 |
Class R4 | ||
Proceeds from shares issued | 192 | 3,069 |
Distributions reinvested | 205 | 1,187 |
Cost of shares redeemed | (1,922) | (42,655) |
Change in net assets resulting from Class R4 capital transactions | (1,525) | (38,399) |
46 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
JPMorgan Value Advantage Fund | ||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
CAPITAL TRANSACTIONS: (continued) | ||
Class R5 | ||
Proceeds from shares issued | $237 | $839 |
Distributions reinvested | 142 | 137 |
Cost of shares redeemed | (348) | (6,702) |
Change in net assets resulting from Class R5 capital transactions | 31 | (5,726) |
Class R6 | ||
Proceeds from shares issued | 808,892 | 1,674,385 |
Distributions reinvested | 643,064 | 133,248 |
Cost of shares redeemed | (1,765,277) | (1,838,331) |
Change in net assets resulting from Class R6 capital transactions | (313,321) | (30,698) |
Total change in net assets resulting from capital transactions | $87,864 | $(1,143,741) |
SHARE TRANSACTIONS: | ||
Class A | ||
Issued | 7,374 | 6,264 |
Reinvested | 3,380 | 627 |
Redeemed | (4,700) | (7,354) |
Change in Class A Shares | 6,054 | (463) |
Class C | ||
Issued | 1,255 | 1,112 |
Reinvested | 1,041 | 198 |
Redeemed | (2,626) | (4,444) |
Change in Class C Shares | (330) | (3,134) |
Class I | ||
Issued | 16,246 | 17,384 |
Reinvested | 7,212 | 1,924 |
Redeemed | (21,217) | (34,308) |
Change in Class I Shares | 2,241 | (15,000) |
Class L | ||
Issued | 8,313 | 9,182 |
Reinvested | 6,003 | 1,461 |
Redeemed | (11,792) | (21,293) |
Change in Class L Shares | 2,524 | (10,650) |
Class R2 | ||
Issued | 3 | 2 |
Reinvested | 1 | —(a) |
Redeemed | —(a) | (4) |
Change in Class R2 Shares | 4 | (2) |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 47 |
FOR THE PERIODS INDICATED (continued)
(Amounts in thousands)
JPMorgan Value Advantage Fund | ||
Year Ended June 30, 2022 | Year Ended June 30, 2021 | |
SHARE TRANSACTIONS: (continued) | ||
Class R3 | ||
Issued | 28 | 32 |
Reinvested | 9 | 1 |
Redeemed | (28) | (14) |
Change in Class R3 Shares | 9 | 19 |
Class R4 | ||
Issued | 4 | 89 |
Reinvested | 5 | 34 |
Redeemed | (46) | (1,184) |
Change in Class R4 Shares | (37) | (1,061) |
Class R5 | ||
Issued | 6 | 26 |
Reinvested | 4 | 4 |
Redeemed | (9) | (184) |
Change in Class R5 Shares | 1 | (154) |
Class R6 | ||
Issued | 20,027 | 43,621 |
Reinvested | 16,442 | 3,783 |
Redeemed | (41,571) | (51,458) |
Change in Class R6 Shares | (5,102) | (4,054) |
48 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Growth Advantage Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $33.66 | $(0.16) | $(6.04) | $(6.20) | $— | $(4.94) | $(4.94) |
Year Ended June 30, 2021 | 25.27 | (0.16) | 11.67 | 11.51 | — | (3.12) | (3.12) |
Year Ended June 30, 2020 | 21.78 | (0.08) | 5.74 | 5.66 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 21.73 | (0.08) | 1.89 | 1.81 | — | (1.76) | (1.76) |
Year Ended June 30, 2018 | 17.95 | (0.12) | 4.74 | 4.62 | — | (0.84) | (0.84) |
Class C | |||||||
Year Ended June 30, 2022 | 27.83 | (0.26) | (4.72) | (4.98) | — | (4.94) | (4.94) |
Year Ended June 30, 2021 | 21.42 | (0.26) | 9.79 | 9.53 | — | (3.12) | (3.12) |
Year Ended June 30, 2020 | 18.86 | (0.16) | 4.89 | 4.73 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 19.16 | (0.16) | 1.62 | 1.46 | — | (1.76) | (1.76) |
Year Ended June 30, 2018 | 15.99 | (0.19) | 4.20 | 4.01 | — | (0.84) | (0.84) |
Class I | |||||||
Year Ended June 30, 2022 | 35.20 | (0.09) | (6.39) | (6.48) | — | (4.94) | (4.94) |
Year Ended June 30, 2021 | 26.29 | (0.09) | 12.18 | 12.09 | (0.06) | (3.12) | (3.18) |
Year Ended June 30, 2020 | 22.53 | (0.02) | 5.95 | 5.93 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 22.36 | (0.03) | 1.96 | 1.93 | — | (1.76) | (1.76) |
Year Ended June 30, 2018 | 18.40 | (0.07) | 4.87 | 4.80 | — | (0.84) | (0.84) |
Class R2 | |||||||
Year Ended June 30, 2022 | 33.24 | (0.21) | (5.95) | (6.16) | — | (4.94) | (4.94) |
Year Ended June 30, 2021 | 25.05 | (0.24) | 11.56 | 11.32 | (0.01) | (3.12) | (3.13) |
Year Ended June 30, 2020 | 21.67 | (0.13) | 5.68 | 5.55 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 21.68 | (0.13) | 1.88 | 1.75 | — | (1.76) | (1.76) |
July 31, 2017 (f) through June 30, 2018 | 18.47 | (0.14) | 4.19 | 4.05 | — | (0.84) | (0.84) |
Class R3 | |||||||
Year Ended June 30, 2022 | 33.61 | (0.14) | (6.05) | (6.19) | — | (4.94) | (4.94) |
Year Ended June 30, 2021 | 25.27 | (0.17) | 11.68 | 11.51 | (0.05) | (3.12) | (3.17) |
Year Ended June 30, 2020 | 21.79 | (0.08) | 5.73 | 5.65 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 21.74 | (0.07) | 1.88 | 1.81 | — | (1.76) | (1.76) |
Year Ended June 30, 2018 | 17.96 | (0.11) | 4.73 | 4.62 | — | (0.84) | (0.84) |
Class R4 | |||||||
Year Ended June 30, 2022 | 35.21 | (0.10) | (6.38) | (6.48) | — | (4.94) | (4.94) |
Year Ended June 30, 2021 | 26.29 | (0.09) | 12.17 | 12.08 | (0.04) | (3.12) | (3.16) |
Year Ended June 30, 2020 | 22.53 | (0.02) | 5.95 | 5.93 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 22.36 | (0.03) | 1.96 | 1.93 | — | (1.76) | (1.76) |
Year Ended June 30, 2018 | 18.40 | (0.03) | 4.83 | 4.80 | — | (0.84) | (0.84) |
Class R5 | |||||||
Year Ended June 30, 2022 | 36.18 | (0.05) | (6.60) | (6.65) | — | (4.94) | (4.94) |
Year Ended June 30, 2021 | 26.93 | (0.05) | 12.50 | 12.45 | (0.08) | (3.12) | (3.20) |
Year Ended June 30, 2020 | 23.00 | 0.01 | 6.09 | 6.10 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 22.76 | 0.01 | 1.99 | 2.00 | — | (1.76) | (1.76) |
Year Ended June 30, 2018 | 18.69 | (0.04) | 4.95 | 4.91 | — | (0.84) | (0.84) |
50 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(c) |
$22.52 | (22.53)% | $2,362,435 | 1.08% | (0.54)% | 1.14% | 33% |
33.66 | 47.55 | 3,013,691 | 1.13 | (0.54) | 1.14 | 43 |
25.27 | 27.87 | 2,032,870 | 1.14 | (0.36) | 1.16 | 47 |
21.78 | 9.63 | 1,825,607 | 1.14 | (0.38) | 1.25 | 40 |
21.73 | 26.22 | 1,724,681 | 1.16 | (0.57) | 1.25 | 31 |
17.91 | (22.90) | 798,037 | 1.58 | (1.05) | 1.64 | 33 |
27.83 | 46.80 | 1,218,051 | 1.63 | (1.04) | 1.63 | 43 |
21.42 | 27.20 | 942,512 | 1.64 | (0.86) | 1.66 | 47 |
18.86 | 9.06 | 793,489 | 1.64 | (0.88) | 1.75 | 40 |
19.16 | 25.60 | 740,817 | 1.66 | (1.07) | 1.76 | 31 |
23.78 | (22.33) | 3,376,110 | 0.83 | (0.29) | 0.89 | 33 |
35.20 | 47.95 | 4,622,602 | 0.88 | (0.29) | 0.88 | 43 |
26.29 | 28.15 | 2,827,894 | 0.89 | (0.11) | 0.90 | 47 |
22.53 | 9.91 | 2,107,041 | 0.89 | (0.12) | 1.00 | 40 |
22.36 | 26.56 | 1,753,505 | 0.92 | (0.32) | — | 31 |
22.14 | (22.71) | 4,972 | 1.32 | (0.75) | 1.56 | 33 |
33.24 | 47.18 | 510 | 1.39 | (0.79) | 1.66 | 43 |
25.05 | 27.48 | 239 | 1.39 | (0.59) | 1.88 | 47 |
21.67 | 9.36 | 88 | 1.39 | (0.61) | 2.24 | 40 |
21.68 | 22.39 | 43 | 1.41 | (0.77) | 1.59 | 31 |
22.48 | (22.54) | 13,221 | 1.08 | (0.50) | 1.16 | 33 |
33.61 | 47.60 | 5,089 | 1.14 | (0.54) | 1.17 | 43 |
25.27 | 27.80 | 1,076 | 1.14 | (0.36) | 1.24 | 47 |
21.79 | 9.63 | 448 | 1.14 | (0.36) | 1.40 | 40 |
21.74 | 26.20 | 266 | 1.15 | (0.53) | 1.28 | 31 |
23.79 | (22.32) | 15,452 | 0.83 | (0.30) | 0.89 | 33 |
35.21 | 47.91 | 22,559 | 0.88 | (0.29) | 0.88 | 43 |
26.29 | 28.15 | 17,739 | 0.89 | (0.11) | 0.90 | 47 |
22.53 | 9.91 | 16,423 | 0.89 | (0.12) | 1.00 | 40 |
22.36 | 26.56 | 12,005 | 0.88 | (0.16) | 1.00 | 31 |
24.59 | (22.18) | 103,367 | 0.68 | (0.15) | 0.74 | 33 |
36.18 | 48.16 | 141,386 | 0.73 | (0.14) | 0.73 | 43 |
26.93 | 28.32 | 133,780 | 0.74 | 0.04 | 0.76 | 47 |
23.00 | 10.05 | 118,449 | 0.74 | 0.02 | 0.85 | 40 |
22.76 | 26.74 | 112,830 | 0.77 | (0.18) | 0.85 | 31 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 51 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Growth Advantage Fund (continued) | |||||||
Class R6 | |||||||
Year Ended June 30, 2022 | $36.52 | $(0.01) | $(6.69) | $(6.70) | $— | $(4.94) | $(4.94) |
Year Ended June 30, 2021 | 27.16 | (0.01) | 12.59 | 12.58 | (0.10) | (3.12) | (3.22) |
Year Ended June 30, 2020 | 23.15 | 0.03 | 6.15 | 6.18 | — | (2.17) | (2.17) |
Year Ended June 30, 2019 | 22.87 | 0.03 | 2.01 | 2.04 | — | (1.76) | (1.76) |
Year Ended June 30, 2018 | 18.76 | (0.02) | 4.97 | 4.95 | — | (0.84) | (0.84) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Commencement of offering of class of shares. |
52 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(c) |
$24.88 | (22.11)% | $5,407,723 | 0.58% | (0.03)% | 0.64% | 33% |
36.52 | 48.28 | 5,754,949 | 0.63 | (0.03) | 0.63 | 43 |
27.16 | 28.49 | 4,854,095 | 0.64 | 0.14 | 0.65 | 47 |
23.15 | 10.18 | 4,527,544 | 0.64 | 0.12 | 0.75 | 40 |
22.87 | 26.86 | 4,347,440 | 0.67 | (0.07) | 0.75 | 31 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 53 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Mid Cap Equity Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $62.14 | $0.05 | $(9.53) | $(9.48) | $— | $(4.60) | $(4.60) |
Year Ended June 30, 2021 | 47.20 | (0.03) | 21.27 | 21.24 | (0.08) | (6.22) | (6.30) |
Year Ended June 30, 2020 | 50.52 | 0.13 | 0.78 | 0.91 | (0.30) | (3.93) | (4.23) |
Year Ended June 30, 2019 | 51.57 | 0.18 | 4.04 | 4.22 | (0.13) | (5.14) | (5.27) |
Year Ended June 30, 2018 | 48.53 | —(d) | 5.89 | 5.89 | — | (2.85) | (2.85) |
Class C | |||||||
Year Ended June 30, 2022 | 58.61 | (0.25) | (8.88) | (9.13) | — | (4.60) | (4.60) |
Year Ended June 30, 2021 | 44.95 | (0.29) | 20.17 | 19.88 | — | (6.22) | (6.22) |
Year Ended June 30, 2020 | 48.32 | (0.10) | 0.71 | 0.61 | (0.05) | (3.93) | (3.98) |
Year Ended June 30, 2019 | 49.66 | (0.04) | 3.84 | 3.80 | — | (5.14) | (5.14) |
Year Ended June 30, 2018 | 47.05 | (0.24) | 5.70 | 5.46 | — | (2.85) | (2.85) |
Class I | |||||||
Year Ended June 30, 2022 | 63.43 | 0.20 | (9.75) | (9.55) | (0.09) | (4.60) | (4.69) |
Year Ended June 30, 2021 | 48.07 | 0.13 | 21.66 | 21.79 | (0.21) | (6.22) | (6.43) |
Year Ended June 30, 2020 | 51.35 | 0.25 | 0.80 | 1.05 | (0.40) | (3.93) | (4.33) |
Year Ended June 30, 2019 | 52.32 | 0.33 | 4.07 | 4.40 | (0.23) | (5.14) | (5.37) |
Year Ended June 30, 2018 | 49.13 | 0.14 | 5.97 | 6.11 | (0.07) | (2.85) | (2.92) |
Class R2 | |||||||
Year Ended June 30, 2022 | 61.24 | (0.09) | (9.36) | (9.45) | — | (4.60) | (4.60) |
Year Ended June 30, 2021 | 46.64 | (0.18) | 21.00 | 20.82 | — | (6.22) | (6.22) |
Year Ended June 30, 2020 | 49.96 | 0.01 | 0.76 | 0.77 | (0.16) | (3.93) | (4.09) |
Year Ended June 30, 2019 | 51.08 | 0.05 | 4.00 | 4.05 | (0.03) | (5.14) | (5.17) |
Year Ended June 30, 2018 | 48.21 | (0.14) | 5.86 | 5.72 | — | (2.85) | (2.85) |
Class R5 | |||||||
Year Ended June 30, 2022 | 63.52 | 0.24 | (9.74) | (9.50) | — | (4.60) | (4.60) |
Year Ended June 30, 2021 | 48.11 | 0.16 | 21.74 | 21.90 | (0.27) | (6.22) | (6.49) |
Year Ended June 30, 2020 | 51.37 | 0.30 | 0.83 | 1.13 | (0.46) | (3.93) | (4.39) |
Year Ended June 30, 2019 | 52.35 | 0.41 | 4.06 | 4.47 | (0.31) | (5.14) | (5.45) |
Year Ended June 30, 2018 | 49.17 | 0.24 | 5.94 | 6.18 | (0.15) | (2.85) | (3.00) |
Class R6 | |||||||
Year Ended June 30, 2022 | 63.57 | 0.35 | (9.78) | (9.43) | (0.22) | (4.60) | (4.82) |
Year Ended June 30, 2021 | 48.14 | 0.26 | 21.71 | 21.97 | (0.32) | (6.22) | (6.54) |
Year Ended June 30, 2020 | 51.41 | 0.37 | 0.81 | 1.18 | (0.52) | (3.93) | (4.45) |
Year Ended June 30, 2019 | 52.39 | 0.43 | 4.09 | 4.52 | (0.36) | (5.14) | (5.50) |
Year Ended June 30, 2018 | 49.18 | 0.27 | 5.96 | 6.23 | (0.17) | (2.85) | (3.02) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(d) | Amount rounds to less than $0.005. |
54 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$48.06 | (16.58)% | $526,401 | 1.15% | 0.08% | 1.26% | 33% |
62.14 | 47.31 | 595,304 | 1.14 | (0.05) | 1.26 | 54 |
47.20 | 2.20 | 405,857 | 1.14 | 0.28 | 1.26 | 49 |
50.52 | 9.92 | 451,118 | 1.13 | 0.37 | 1.26 | 34 |
51.57 | 12.37 | 402,897 | 1.17 | 0.01 | 1.25 | 31 |
44.88 | (17.00) | 13,761 | 1.65 | (0.44) | 1.77 | 33 |
58.61 | 46.59 | 21,836 | 1.63 | (0.56) | 1.75 | 54 |
44.95 | 1.69 | 20,753 | 1.64 | (0.23) | 1.76 | 49 |
48.32 | 9.37 | 24,071 | 1.63 | (0.09) | 1.76 | 34 |
49.66 | 11.83 | 27,666 | 1.67 | (0.50) | 1.76 | 31 |
49.19 | (16.37) | 802,716 | 0.90 | 0.33 | 1.02 | 33 |
63.43 | 47.67 | 886,782 | 0.89 | 0.23 | 1.00 | 54 |
48.07 | 2.46 | 341,317 | 0.89 | 0.53 | 1.01 | 49 |
51.35 | 10.20 | 301,071 | 0.88 | 0.65 | 1.00 | 34 |
52.32 | 12.68 | 326,026 | 0.89 | 0.26 | 1.00 | 31 |
47.19 | (16.79) | 552 | 1.40 | (0.16) | 1.66 | 33 |
61.24 | 46.94 | 555 | 1.38 | (0.33) | 1.59 | 54 |
46.64 | 1.96 | 623 | 1.39 | 0.03 | 1.55 | 49 |
49.96 | 9.63 | 524 | 1.38 | 0.10 | 1.57 | 34 |
51.08 | 12.09 | 443 | 1.43 | (0.28) | 1.57 | 31 |
49.42 | (16.24) | 1 | 0.74 | 0.39 | 0.91 | 33 |
63.52 | 47.89 | 74 | 0.74 | 0.29 | 0.87 | 54 |
48.11 | 2.62 | 871 | 0.74 | 0.61 | 0.86 | 49 |
51.37 | 10.37 | 6,073 | 0.73 | 0.81 | 0.86 | 34 |
52.35 | 12.83 | 6,499 | 0.75 | 0.47 | 0.85 | 31 |
49.32 | (16.17) | 1,285,957 | 0.65 | 0.59 | 0.76 | 33 |
63.57 | 48.03 | 1,320,991 | 0.64 | 0.45 | 0.75 | 54 |
48.14 | 2.72 | 867,761 | 0.64 | 0.75 | 0.76 | 49 |
51.41 | 10.48 | 2,008,540 | 0.63 | 0.87 | 0.75 | 34 |
52.39 | 12.93 | 1,970,177 | 0.67 | 0.51 | 0.75 | 31 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 55 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Mid Cap Growth Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $46.20 | $(0.31) | $(11.67) | $(11.98) | $— | $(4.64) | $(4.64) |
Year Ended June 30, 2021 | 36.43 | (0.36) | 15.58 | 15.22 | — | (5.45) | (5.45) |
Year Ended June 30, 2020 | 32.94 | (0.20) | 6.50 | 6.30 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 30.84 | (0.17) | 4.42 | 4.25 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 27.99 | (0.19) | 5.18 | 4.99 | — | (2.14) | (2.14) |
Class C | |||||||
Year Ended June 30, 2022 | 32.69 | (0.36) | (7.83) | (8.19) | — | (4.64) | (4.64) |
Year Ended June 30, 2021 | 27.15 | (0.42) | 11.41 | 10.99 | — | (5.45) | (5.45) |
Year Ended June 30, 2020 | 25.34 | (0.28) | 4.90 | 4.62 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 24.37 | (0.25) | 3.37 | 3.12 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 22.64 | (0.27) | 4.14 | 3.87 | — | (2.14) | (2.14) |
Class I | |||||||
Year Ended June 30, 2022 | 55.95 | (0.25) | (14.44) | (14.69) | — | (4.64) | (4.64) |
Year Ended June 30, 2021 | 43.11 | (0.28) | 18.58 | 18.30 | (0.01) | (5.45) | (5.46) |
Year Ended June 30, 2020 | 38.37 | (0.12) | 7.67 | 7.55 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 35.44 | (0.09) | 5.17 | 5.08 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 31.79 | (0.10) | 5.89 | 5.79 | — | (2.14) | (2.14) |
Class R2 | |||||||
Year Ended June 30, 2022 | 51.05 | (0.47) | (13.01) | (13.48) | — | (4.64) | (4.64) |
Year Ended June 30, 2021 | 39.90 | (0.52) | 17.12 | 16.60 | — | (5.45) | (5.45) |
Year Ended June 30, 2020 | 35.91 | (0.31) | 7.11 | 6.80 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 33.49 | (0.27) | 4.84 | 4.57 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 30.31 | (0.28) | 5.60 | 5.32 | — | (2.14) | (2.14) |
Class R3 | |||||||
Year Ended June 30, 2022 | 54.95 | (0.41) | (14.10) | (14.51) | — | (4.64) | (4.64) |
Year Ended June 30, 2021 | 42.53 | (0.43) | 18.30 | 17.87 | — | (5.45) | (5.45) |
Year Ended June 30, 2020 | 38.01 | (0.23) | 7.56 | 7.33 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 35.23 | (0.20) | 5.13 | 4.93 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 31.71 | (0.19) | 5.85 | 5.66 | — | (2.14) | (2.14) |
Class R4 | |||||||
Year Ended June 30, 2022 | 55.76 | (0.28) | (14.37) | (14.65) | — | (4.64) | (4.64) |
Year Ended June 30, 2021 | 43.00 | (0.31) | 18.53 | 18.22 | (0.01) | (5.45) | (5.46) |
Year Ended June 30, 2020 | 38.30 | (0.14) | 7.65 | 7.51 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 35.40 | (0.11) | 5.16 | 5.05 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 31.77 | (0.12) | 5.89 | 5.77 | — | (2.14) | (2.14) |
Class R5 | |||||||
Year Ended June 30, 2022 | 57.00 | (0.20) | (14.74) | (14.94) | — | (4.64) | (4.64) |
Year Ended June 30, 2021 | 43.81 | (0.21) | 18.90 | 18.69 | (0.05) | (5.45) | (5.50) |
Year Ended June 30, 2020 | 38.90 | (0.06) | 7.78 | 7.72 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 35.85 | (0.04) | 5.24 | 5.20 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 32.09 | (0.06) | 5.96 | 5.90 | — | (2.14) | (2.14) |
56 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$29.58 | (28.80)% | $1,119,928 | 1.18% | (0.78)% | 1.26% | 45% |
46.20 | 43.59 | 1,642,278 | 1.24 | (0.85) | 1.26 | 42 |
36.43 | 20.30 | 1,141,467 | 1.24 | (0.62) | 1.27 | 63 |
32.94 | 15.37 | 1,012,686 | 1.23 | (0.56) | 1.28 | 54 |
30.84 | 18.39 | 934,982 | 1.23 | (0.62) | 1.30 | 56 |
19.86 | (29.14) | 67,482 | 1.68 | (1.28) | 1.75 | 45 |
32.69 | 42.84 | 109,845 | 1.74 | (1.36) | 1.75 | 42 |
27.15 | 19.72 | 86,046 | 1.74 | (1.12) | 1.75 | 63 |
25.34 | 14.78 | 83,558 | 1.73 | (1.06) | 1.75 | 54 |
24.37 | 17.76 | 82,939 | 1.73 | (1.12) | 1.76 | 56 |
36.62 | (28.62) | 1,403,485 | 0.91 | (0.50) | 1.00 | 45 |
55.95 | 44.02 | 2,003,878 | 0.93 | (0.54) | 0.99 | 42 |
43.11 | 20.70 | 1,205,433 | 0.93 | (0.31) | 1.00 | 63 |
38.37 | 15.73 | 1,085,728 | 0.92 | (0.25) | 1.00 | 54 |
35.44 | 18.72 | 1,140,704 | 0.92 | (0.30) | 1.00 | 56 |
32.93 | (29.02) | 42,153 | 1.47 | (1.06) | 1.54 | 45 |
51.05 | 43.24 | 57,273 | 1.49 | (1.10) | 1.53 | 42 |
39.90 | 20.00 | 39,404 | 1.49 | (0.87) | 1.55 | 63 |
35.91 | 15.10 | 44,453 | 1.48 | (0.81) | 1.55 | 54 |
33.49 | 18.06 | 38,486 | 1.48 | (0.87) | 1.57 | 56 |
35.80 | (28.82) | 36,455 | 1.22 | (0.82) | 1.25 | 45 |
54.95 | 43.57 | 70,608 | 1.24 | (0.86) | 1.24 | 42 |
42.53 | 20.30 | 42,573 | 1.24 | (0.61) | 1.25 | 63 |
38.01 | 15.38 | 30,023 | 1.23 | (0.56) | 1.25 | 54 |
35.23 | 18.34 | 26,638 | 1.23 | (0.54) | 1.26 | 56 |
36.47 | (28.65) | 19,437 | 0.97 | (0.56) | 1.00 | 45 |
55.76 | 43.92 | 22,947 | 0.99 | (0.60) | 0.99 | 42 |
43.00 | 20.63 | 11,194 | 0.99 | (0.37) | 1.00 | 63 |
38.30 | 15.66 | 9,343 | 0.98 | (0.31) | 1.00 | 54 |
35.40 | 18.66 | 14,320 | 0.98 | (0.33) | 1.01 | 56 |
37.42 | (28.53) | 448,298 | 0.79 | (0.39) | 0.85 | 45 |
57.00 | 44.22 | 730,273 | 0.79 | (0.40) | 0.84 | 42 |
43.81 | 20.86 | 519,097 | 0.79 | (0.17) | 0.85 | 63 |
38.90 | 15.89 | 457,513 | 0.78 | (0.11) | 0.85 | 54 |
35.85 | 18.89 | 313,336 | 0.78 | (0.16) | 0.85 | 56 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 57 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Mid Cap Growth Fund (continued) | |||||||
Class R6 | |||||||
Year Ended June 30, 2022 | $57.39 | $(0.16) | $(14.86) | $(15.02) | $— | $(4.64) | $(4.64) |
Year Ended June 30, 2021 | 44.07 | (0.19) | 19.03 | 18.84 | (0.07) | (5.45) | (5.52) |
Year Ended June 30, 2020 | 39.09 | (0.04) | 7.83 | 7.79 | — | (2.81) | (2.81) |
Year Ended June 30, 2019 | 36.00 | (0.02) | 5.26 | 5.24 | — | (2.15) | (2.15) |
Year Ended June 30, 2018 | 32.20 | (0.04) | 5.98 | 5.94 | — | (2.14) | (2.14) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
58 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$37.73 | (28.47)% | $3,842,661 | 0.72% | (0.31)% | 0.75% | 45% |
57.39 | 44.30 | 4,435,662 | 0.74 | (0.35) | 0.74 | 42 |
44.07 | 20.94 | 2,435,853 | 0.74 | (0.11) | 0.75 | 63 |
39.09 | 15.94 | 1,835,188 | 0.73 | (0.05) | 0.75 | 54 |
36.00 | 18.95 | 1,365,839 | 0.73 | (0.11) | 0.76 | 56 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 59 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Mid Cap Value Fund | |||||||
Class A | |||||||
Year Ended June 30, 2022 | $43.69 | $0.24 | $(2.97) | $(2.73) | $(0.16) | $(5.90) | $(6.06) |
Year Ended June 30, 2021 | 31.12 | 0.17 | 15.09 | 15.26 | (0.29) | (2.40) | (2.69) |
Year Ended June 30, 2020 | 38.02 | 0.33 | (5.35) | (5.02) | (0.33) | (1.55) | (1.88) |
Year Ended June 30, 2019 | 39.24 | 0.45 | 0.87 | 1.32 | (0.38) | (2.16) | (2.54) |
Year Ended June 30, 2018 | 37.80 | 0.20 | 2.14 | 2.34 | (0.18) | (0.72) | (0.90) |
Class C | |||||||
Year Ended June 30, 2022 | 41.77 | 0.03 | (2.80) | (2.77) | — | (5.90) | (5.90) |
Year Ended June 30, 2021 | 29.77 | (0.02) | 14.44 | 14.42 | (0.02) | (2.40) | (2.42) |
Year Ended June 30, 2020 | 36.44 | 0.14 | (5.14) | (5.00) | (0.12) | (1.55) | (1.67) |
Year Ended June 30, 2019 | 37.68 | 0.26 | 0.83 | 1.09 | (0.17) | (2.16) | (2.33) |
Year Ended June 30, 2018 | 36.35 | (0.02) | 2.07 | 2.05 | — | (0.72) | (0.72) |
Class I | |||||||
Year Ended June 30, 2022 | 44.30 | 0.34 | (3.02) | (2.68) | (0.24) | (5.90) | (6.14) |
Year Ended June 30, 2021 | 31.51 | 0.27 | 15.30 | 15.57 | (0.38) | (2.40) | (2.78) |
Year Ended June 30, 2020 | 38.48 | 0.43 | (5.42) | (4.99) | (0.43) | (1.55) | (1.98) |
Year Ended June 30, 2019 | 39.70 | 0.54 | 0.88 | 1.42 | (0.48) | (2.16) | (2.64) |
Year Ended June 30, 2018 | 38.24 | 0.30 | 2.16 | 2.46 | (0.28) | (0.72) | (1.00) |
Class L | |||||||
Year Ended June 30, 2022 | 44.98 | 0.43 | (3.09) | (2.66) | (0.33) | (5.90) | (6.23) |
Year Ended June 30, 2021 | 31.96 | 0.36 | 15.51 | 15.87 | (0.45) | (2.40) | (2.85) |
Year Ended June 30, 2020 | 38.99 | 0.52 | (5.48) | (4.96) | (0.52) | (1.55) | (2.07) |
Year Ended June 30, 2019 | 40.21 | 0.62 | 0.90 | 1.52 | (0.58) | (2.16) | (2.74) |
Year Ended June 30, 2018 | 38.70 | 0.40 | 2.20 | 2.60 | (0.37) | (0.72) | (1.09) |
Class R2 | |||||||
Year Ended June 30, 2022 | 41.48 | 0.12 | (2.78) | (2.66) | (0.08) | (5.90) | (5.98) |
Year Ended June 30, 2021 | 29.67 | 0.07 | 14.36 | 14.43 | (0.22) | (2.40) | (2.62) |
Year Ended June 30, 2020 | 36.35 | 0.23 | (5.11) | (4.88) | (0.25) | (1.55) | (1.80) |
Year Ended June 30, 2019 | 37.64 | 0.31 | 0.86 | 1.17 | (0.30) | (2.16) | (2.46) |
Year Ended June 30, 2018 | 36.33 | 0.10 | 2.05 | 2.15 | (0.12) | (0.72) | (0.84) |
Class R3 | |||||||
Year Ended June 30, 2022 | 43.25 | 0.23 | (2.94) | (2.71) | (0.15) | (5.90) | (6.05) |
Year Ended June 30, 2021 | 30.83 | 0.17 | 14.95 | 15.12 | (0.30) | (2.40) | (2.70) |
Year Ended June 30, 2020 | 37.70 | 0.33 | (5.30) | (4.97) | (0.35) | (1.55) | (1.90) |
Year Ended June 30, 2019 | 38.97 | 0.39 | 0.91 | 1.30 | (0.41) | (2.16) | (2.57) |
Year Ended June 30, 2018 | 37.67 | 0.21 | 2.11 | 2.32 | (0.30) | (0.72) | (1.02) |
Class R4 | |||||||
Year Ended June 30, 2022 | 44.02 | 0.34 | (3.00) | (2.66) | (0.17) | (5.90) | (6.07) |
Year Ended June 30, 2021 | 31.34 | 0.27 | 15.20 | 15.47 | (0.39) | (2.40) | (2.79) |
Year Ended June 30, 2020 | 38.29 | 0.43 | (5.40) | (4.97) | (0.43) | (1.55) | (1.98) |
Year Ended June 30, 2019 | 39.56 | 0.50 | 0.90 | 1.40 | (0.51) | (2.16) | (2.67) |
Year Ended June 30, 2018 | 38.16 | 0.33 | 2.13 | 2.46 | (0.34) | (0.72) | (1.06) |
60 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$34.90 | (7.73)% | $1,203,015 | 1.18% | 0.57% | 1.24% | 16% |
43.69 | 51.06 | 1,608,828 | 1.22 | 0.46 | 1.23 | 21 |
31.12 | (14.13) | 1,171,139 | 1.24 | 0.93 | 1.24 | 18 |
38.02 | 4.12 | 1,662,841 | 1.23 | 1.20 | 1.25 | 11 |
39.24 | 6.20 | 1,967,162 | 1.23 | 0.51 | 1.26 | 13 |
33.10 | (8.17) | 61,031 | 1.68 | 0.07 | 1.74 | 16 |
41.77 | 50.32 | 76,078 | 1.72 | (0.05) | 1.73 | 21 |
29.77 | (14.58) | 84,827 | 1.73 | 0.42 | 1.74 | 18 |
36.44 | 3.59 | 149,839 | 1.73 | 0.72 | 1.74 | 11 |
37.68 | 5.65 | 214,331 | 1.74 | (0.06) | 1.75 | 13 |
35.48 | (7.50) | 2,276,870 | 0.93 | 0.81 | 0.98 | 16 |
44.30 | 51.46 | 3,061,126 | 0.97 | 0.72 | 0.98 | 21 |
31.51 | (13.93) | 2,164,300 | 0.98 | 1.20 | 0.99 | 18 |
38.48 | 4.38 | 2,662,983 | 0.98 | 1.41 | 0.99 | 11 |
39.70 | 6.44 | 2,985,882 | 0.98 | 0.77 | 1.00 | 13 |
36.09 | (7.35) | 6,586,299 | 0.75 | 1.00 | 0.83 | 16 |
44.98 | 51.76 | 7,839,627 | 0.75 | 0.94 | 0.83 | 21 |
31.96 | (13.71) | 5,976,033 | 0.75 | 1.41 | 0.84 | 18 |
38.99 | 4.63 | 8,996,364 | 0.74 | 1.61 | 0.85 | 11 |
40.21 | 6.73 | 11,795,588 | 0.74 | 1.00 | 0.86 | 13 |
32.84 | (7.97) | 59,842 | 1.43 | 0.32 | 1.49 | 16 |
41.48 | 50.69 | 71,087 | 1.48 | 0.21 | 1.49 | 21 |
29.67 | (14.36) | 59,200 | 1.49 | 0.69 | 1.50 | 18 |
36.35 | 3.86 | 74,236 | 1.49 | 0.87 | 1.50 | 11 |
37.64 | 5.93 | 82,108 | 1.49 | 0.26 | 1.51 | 13 |
34.49 | (7.75) | 69,915 | 1.18 | 0.56 | 1.23 | 16 |
43.25 | 51.07 | 88,116 | 1.22 | 0.47 | 1.23 | 21 |
30.83 | (14.13) | 63,836 | 1.23 | 0.96 | 1.24 | 18 |
37.70 | 4.12 | 73,299 | 1.24 | 1.04 | 1.25 | 11 |
38.97 | 6.17 | 62,576 | 1.24 | 0.55 | 1.25 | 13 |
35.29 | (7.50) | 22,574 | 0.94 | 0.80 | 0.98 | 16 |
44.02 | 51.47 | 31,938 | 0.97 | 0.70 | 0.98 | 21 |
31.34 | (13.93) | 24,576 | 0.98 | 1.21 | 0.99 | 18 |
38.29 | 4.38 | 27,681 | 0.98 | 1.32 | 0.99 | 11 |
39.56 | 6.45 | 17,859 | 0.99 | 0.83 | 1.00 | 13 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 61 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Mid Cap Value Fund (continued) | |||||||
Class R5 | |||||||
Year Ended June 30, 2022 | $44.90 | $0.40 | $(3.06) | $(2.66) | $(0.31) | $(5.90) | $(6.21) |
Year Ended June 30, 2021 | 31.90 | 0.33 | 15.49 | 15.82 | (0.42) | (2.40) | (2.82) |
Year Ended June 30, 2020 | 38.93 | 0.49 | (5.48) | (4.99) | (0.49) | (1.55) | (2.04) |
Year Ended June 30, 2019 | 40.15 | 0.58 | 0.90 | 1.48 | (0.54) | (2.16) | (2.70) |
Year Ended June 30, 2018 | 38.67 | 0.38 | 2.17 | 2.55 | (0.35) | (0.72) | (1.07) |
Class R6 | |||||||
Year Ended June 30, 2022 | 44.96 | 0.46 | (3.08) | (2.62) | (0.35) | (5.90) | (6.25) |
Year Ended June 30, 2021 | 31.94 | 0.37 | 15.51 | 15.88 | (0.46) | (2.40) | (2.86) |
Year Ended June 30, 2020 | 38.97 | 0.52 | (5.47) | (4.95) | (0.53) | (1.55) | (2.08) |
Year Ended June 30, 2019 | 40.19 | 0.58 | 0.94 | 1.52 | (0.58) | (2.16) | (2.74) |
Year Ended June 30, 2018 | 38.69 | 0.43 | 2.16 | 2.59 | (0.37) | (0.72) | (1.09) |
(a) | Calculated based upon average shares outstanding. |
(b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(c) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
62 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets | ||||||
Net asset value, end of period | Total return (excludes sales charge)(b) | Net assets, end of period (000's) | Net expenses(c) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$36.03 | (7.35)% | $48,283 | 0.78% | 0.94% | 0.83% | 16% |
44.90 | 51.69 | 89,178 | 0.82 | 0.87 | 0.83 | 21 |
31.90 | (13.79) | 69,110 | 0.83 | 1.34 | 0.83 | 18 |
38.93 | 4.52 | 95,243 | 0.83 | 1.50 | 0.84 | 11 |
40.15 | 6.61 | 84,457 | 0.84 | 0.96 | 0.85 | 13 |
36.09 | (7.26) | 3,480,524 | 0.68 | 1.07 | 0.73 | 16 |
44.96 | 51.83 | 4,184,659 | 0.72 | 0.97 | 0.73 | 21 |
31.94 | (13.70) | 3,101,566 | 0.73 | 1.46 | 0.74 | 18 |
38.97 | 4.63 | 3,272,999 | 0.73 | 1.52 | 0.74 | 11 |
40.19 | 6.71 | 1,073,888 | 0.74 | 1.08 | 0.75 | 13 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 63 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Value Advantage Fund | ��� | ||||||
Class A | |||||||
Year Ended June 30, 2022 | $42.90 | $0.41 | $(1.67) | $(1.26) | $(0.32) | $(5.27) | $(5.59) |
Year Ended June 30, 2021 | 29.53 | 0.34 | 14.04 | 14.38 | (0.48) | (0.53) | (1.01) |
Year Ended June 30, 2020 | 35.46 | 0.49 | (5.04) | (4.55) | (0.45) | (0.93) | (1.38) |
Year Ended June 30, 2019 | 35.38 | 0.55 | 1.68 | 2.23 | (0.46) | (1.69) | (2.15) |
Year Ended June 30, 2018 | 33.40 | 0.35(f) | 2.26 | 2.61 | (0.28) | (0.35) | (0.63) |
Class C | |||||||
Year Ended June 30, 2022 | 42.73 | 0.20 | (1.65) | (1.45) | (0.10) | (5.27) | (5.37) |
Year Ended June 30, 2021 | 29.38 | 0.16 | 13.99 | 14.15 | (0.27) | (0.53) | (0.80) |
Year Ended June 30, 2020 | 35.29 | 0.32 | (5.04) | (4.72) | (0.26) | (0.93) | (1.19) |
Year Ended June 30, 2019 | 35.20 | 0.38 | 1.68 | 2.06 | (0.28) | (1.69) | (1.97) |
Year Ended June 30, 2018 | 33.20 | 0.18(f) | 2.24 | 2.42 | (0.07) | (0.35) | (0.42) |
Class I | |||||||
Year Ended June 30, 2022 | 43.15 | 0.51 | (1.68) | (1.17) | (0.40) | (5.27) | (5.67) |
Year Ended June 30, 2021 | 29.71 | 0.43 | 14.13 | 14.56 | (0.59) | (0.53) | (1.12) |
Year Ended June 30, 2020 | 35.67 | 0.57 | (5.06) | (4.49) | (0.54) | (0.93) | (1.47) |
Year Ended June 30, 2019 | 35.60 | 0.62 | 1.70 | 2.32 | (0.56) | (1.69) | (2.25) |
Year Ended June 30, 2018 | 33.62 | 0.44(f) | 2.28 | 2.72 | (0.39) | (0.35) | (0.74) |
Class L | |||||||
Year Ended June 30, 2022 | 43.20 | 0.57 | (1.68) | (1.11) | (0.46) | (5.27) | (5.73) |
Year Ended June 30, 2021 | 29.73 | 0.49 | 14.14 | 14.63 | (0.63) | (0.53) | (1.16) |
Year Ended June 30, 2020 | 35.69 | 0.63 | (5.07) | (4.44) | (0.59) | (0.93) | (1.52) |
Year Ended June 30, 2019 | 35.62 | 0.72 | 1.64 | 2.36 | (0.60) | (1.69) | (2.29) |
Year Ended June 30, 2018 | 33.63 | 0.50(f) | 2.29 | 2.79 | (0.45) | (0.35) | (0.80) |
Class R2 | |||||||
Year Ended June 30, 2022 | 42.46 | 0.31 | (1.65) | (1.34) | (0.29) | (5.27) | (5.56) |
Year Ended June 30, 2021 | 29.31 | 0.26 | 13.90 | 14.16 | (0.48) | (0.53) | (1.01) |
Year Ended June 30, 2020 | 35.24 | 0.40 | (5.01) | (4.61) | (0.39) | (0.93) | (1.32) |
Year Ended June 30, 2019 | 35.22 | 0.48 | 1.65 | 2.13 | (0.42) | (1.69) | (2.11) |
July 31, 2017 (g) through June 30, 2018 | 34.04 | 0.25(f) | 1.64 | 1.89 | (0.36) | (0.35) | (0.71) |
Class R3 | |||||||
Year Ended June 30, 2022 | 42.36 | 0.41 | (1.65) | (1.24) | (0.34) | (5.27) | (5.61) |
Year Ended June 30, 2021 | 29.21 | 0.33 | 13.88 | 14.21 | (0.53) | (0.53) | (1.06) |
Year Ended June 30, 2020 | 35.08 | 0.48 | (4.98) | (4.50) | (0.44) | (0.93) | (1.37) |
Year Ended June 30, 2019 | 35.11 | 0.49 | 1.71 | 2.20 | (0.54) | (1.69) | (2.23) |
Year Ended June 30, 2018 | 33.24 | 0.35(f) | 2.26 | 2.61 | (0.39) | (0.35) | (0.74) |
Class R4 | |||||||
Year Ended June 30, 2022 | 42.92 | 0.50 | (1.67) | (1.17) | (0.18) | (5.27) | (5.45) |
Year Ended June 30, 2021 | 29.56 | 0.42 | 14.06 | 14.48 | (0.59) | (0.53) | (1.12) |
Year Ended June 30, 2020 | 35.52 | 0.57 | (5.04) | (4.47) | (0.56) | (0.93) | (1.49) |
Year Ended June 30, 2019 | 35.47 | 0.62 | 1.69 | 2.31 | (0.57) | (1.69) | (2.26) |
Year Ended June 30, 2018 | 33.55 | 0.51(f) | 2.20 | 2.71 | (0.44) | (0.35) | (0.79) |
64 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(c) |
$36.05 | (3.78)% | $1,101,144 | 1.07% | 0.99% | 1.14% | 23% |
42.90 | 49.47 | 1,050,569 | 1.13 | 0.94 | 1.14 | 34 |
29.53 | (13.60) | 736,715 | 1.14 | 1.45 | 1.16 | 29 |
35.46 | 7.00 | 1,231,325 | 1.14 | 1.59 | 1.25 | 15 |
35.38 | 7.81 | 1,346,080 | 1.17 | 1.01(f) | 1.25 | 23 |
35.91 | (4.24) | 281,613 | 1.58 | 0.48 | 1.65 | 23 |
42.73 | 48.75 | 349,246 | 1.63 | 0.45 | 1.64 | 34 |
29.38 | (14.04) | 332,229 | 1.64 | 0.94 | 1.66 | 29 |
35.29 | 6.45 | 522,878 | 1.64 | 1.08 | 1.75 | 15 |
35.20 | 7.27 | 591,602 | 1.67 | 0.51(f) | 1.75 | 23 |
36.31 | (3.54) | 2,039,492 | 0.82 | 1.23 | 0.89 | 23 |
43.15 | 49.86 | 2,326,829 | 0.88 | 1.20 | 0.89 | 34 |
29.71 | (13.39) | 2,047,640 | 0.89 | 1.70 | 0.90 | 29 |
35.67 | 7.28 | 2,445,747 | 0.89 | 1.76 | 0.99 | 15 |
35.60 | 8.07 | 2,296,056 | 0.92 | 1.26(f) | 1.00 | 23 |
36.36 | (3.39) | 1,653,596 | 0.68 | 1.38 | 0.74 | 23 |
43.20 | 50.10 | 1,855,713 | 0.73 | 1.35 | 0.74 | 34 |
29.73 | (13.26) | 1,593,954 | 0.74 | 1.85 | 0.75 | 29 |
35.69 | 7.41 | 2,569,596 | 0.74 | 2.04 | 0.84 | 15 |
35.62 | 8.29 | 3,255,993 | 0.74 | 1.42(f) | 0.85 | 23 |
35.56 | (4.02) | 292 | 1.33 | 0.77 | 1.49 | 23 |
42.46 | 49.10 | 194 | 1.38 | 0.73 | 1.54 | 34 |
29.31 | (13.82) | 182 | 1.39 | 1.27 | 1.55 | 29 |
35.24 | 6.72 | 69 | 1.39 | 1.40 | 2.14 | 15 |
35.22 | 5.54 | 38 | 1.41 | 0.78(f) | 1.61 | 23 |
35.51 | (3.78) | 2,845 | 1.08 | 1.00 | 1.17 | 23 |
42.36 | 49.46 | 3,020 | 1.13 | 0.92 | 1.17 | 34 |
29.21 | (13.60) | 1,519 | 1.14 | 1.43 | 1.18 | 29 |
35.08 | 7.00 | 2,241 | 1.14 | 1.44 | 1.26 | 15 |
35.11 | 7.82 | 1,132 | 1.15 | 1.01(f) | 1.28 | 23 |
36.30 | (3.53) | 118 | 0.84 | 1.20 | 0.89 | 23 |
42.92 | 49.86 | 1,724 | 0.88 | 1.26 | 0.89 | 34 |
29.56 | (13.40) | 32,555 | 0.88 | 1.74 | 0.90 | 29 |
35.52 | 7.27 | 20,538 | 0.89 | 1.79 | 0.99 | 15 |
35.47 | 8.07 | 17,231 | 0.89 | 1.43(f) | 1.00 | 23 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 65 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss)(b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Value Advantage Fund (continued) | |||||||
Class R5 | |||||||
Year Ended June 30, 2022 | $43.12 | $0.57 | $(1.69) | $(1.12) | $(0.43) | $(5.27) | $(5.70) |
Year Ended June 30, 2021 | 29.67 | 0.49 | 14.11 | 14.60 | (0.62) | (0.53) | (1.15) |
Year Ended June 30, 2020 | 35.62 | 0.63 | (5.05) | (4.42) | (0.60) | (0.93) | (1.53) |
Year Ended June 30, 2019 | 35.57 | 0.65 | 1.71 | 2.36 | (0.62) | (1.69) | (2.31) |
Year Ended June 30, 2018 | 33.59 | 0.50(f) | 2.28 | 2.78 | (0.45) | (0.35) | (0.80) |
Class R6 | |||||||
Year Ended June 30, 2022 | 43.16 | 0.61 | (1.68) | (1.07) | (0.50) | (5.27) | (5.77) |
Year Ended June 30, 2021 | 29.71 | 0.52 | 14.13 | 14.65 | (0.67) | (0.53) | (1.20) |
Year Ended June 30, 2020 | 35.67 | 0.66 | (5.06) | (4.40) | (0.63) | (0.93) | (1.56) |
Year Ended June 30, 2019 | 35.60 | 0.71 | 1.70 | 2.41 | (0.65) | (1.69) | (2.34) |
Year Ended June 30, 2018 | 33.61 | 0.54(f) | 2.26 | 2.80 | (0.46) | (0.35) | (0.81) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
(f) | Net investment income (loss) may appear disproportionate among the classes due to the timing of recognition of income and changes in the relative size of the classes. |
(g) | Commencement of offering of class of shares. |
66 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return (excludes sales charge)(c)(d) | Net assets, end of period (000's) | Net expenses(e) | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(c) |
$36.30 | (3.40)% | $1,178 | 0.68% | 1.38% | 0.74% | 23% |
43.12 | 50.12 | 1,365 | 0.73 | 1.41 | 0.74 | 34 |
29.67 | (13.25) | 5,529 | 0.74 | 1.85 | 0.75 | 29 |
35.62 | 7.41 | 8,018 | 0.74 | 1.85 | 0.84 | 15 |
35.57 | 8.25 | 6,114 | 0.76 | 1.41(f) | 0.88 | 23 |
36.32 | (3.30) | 4,495,856 | 0.58 | 1.47 | 0.64 | 23 |
43.16 | 50.23 | 5,562,656 | 0.63 | 1.44 | 0.64 | 34 |
29.71 | (13.18) | 3,949,596 | 0.64 | 1.96 | 0.65 | 29 |
35.67 | 7.57 | 4,025,348 | 0.64 | 2.02 | 0.74 | 15 |
35.60 | 8.31 | 3,869,991 | 0.67 | 1.52(f) | 0.75 | 23 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 67 |
AS OF June 30, 2022
(Dollar values in thousands)
Classes Offered | Trust | Diversification Classification | |
JPMorgan Growth Advantage Fund | Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPMMFIT | Diversified |
JPMorgan Mid Cap Equity Fund | Class A, Class C, Class I, Class R2, Class R5 and Class R6 | JPM I | Diversified |
JPMorgan Mid Cap Growth Fund | Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPM II | Diversified |
JPMorgan Mid Cap Value Fund | Class A, Class C, Class I, Class L, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPMFMFG | Diversified |
JPMorgan Value Advantage Fund | Class A, Class C, Class I, Class L, Class R2, Class R3, Class R4, Class R5 and Class R6 | JPM I | Diversified |
68 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Growth Advantage Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $12,210,496 | $— | $— | $12,210,496 |
Mid Cap Equity Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $2,636,655 | $— | $— | $2,636,655 |
Mid Cap Growth Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $7,054,114 | $— | $— | $7,054,114 |
Mid Cap Value Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $13,801,951 | $— | $— | $13,801,951 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 69 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Value Advantage Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $9,654,108 | $— | $— | $9,654,108 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Investment Securities on Loan, at value, Presented on the Statements of Assets and Liabilities | Cash Collateral Posted by Borrower* | Net Amount Due to Counterparty (not less than zero) | |
Growth Advantage Fund | $109,523 | $(109,523) | $— |
Mid Cap Equity Fund | 9,131 | (9,131) | — |
Mid Cap Growth Fund | 58,035 | (58,035) | — |
Mid Cap Value Fund | 3,211 | (3,211) | — |
Value Advantage Fund | 51,393 | (51,393) | — |
* | Collateral posted reflects the value of securities on loan and does not include any additional amounts received from the borrower. |
70 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Growth Advantage Fund | $11 |
Mid Cap Equity Fund | 3 |
Mid Cap Growth Fund | 16 |
Mid Cap Value Fund | 3 |
Value Advantage Fund | 4 |
Growth Advantage Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $159,510 | $4,117,123 | $4,006,818 | $(64) | $(17) | $269,734 | 269,680 | $527 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 133,201 | 1,392,000 | 1,424,001 | (102)* | 10 | 101,108 | 101,169 | 161* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 16,751 | 604,465 | 608,615 | — | — | 12,601 | 12,600 | 16* | — |
Total | $309,462 | $6,113,588 | $6,039,434 | $(166) | $(7) | $383,443 | $704 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Mid Cap Equity Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $64,465 | $891,179 | $859,154 | $(31) | $5 | $96,464 | 96,445 | $258 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 52,990 | 289,000 | 334,000 | (21)* | 3 | 7,972 | 7,977 | 38* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 6,929 | 125,935 | 131,333 | — | — | 1,531 | 1,531 | 5* | — |
Total | $124,384 | $1,306,114 | $1,324,487 | $(52) | $8 | $105,967 | $301 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 71 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Mid Cap Growth Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $190,144 | $2,525,981 | $2,455,507 | $(66) | $3 | $260,555 | 260,503 | $580 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 238,992 | 1,362,999 | 1,548,000 | (144)* | 17 | 53,864 | 53,897 | 257* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 26,765 | 774,842 | 794,730 | — | — | 6,877 | 6,877 | 28* | — |
Total | $455,901 | $4,663,822 | $4,798,237 | $(210) | $20 | $321,296 | $865 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Mid Cap Value Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $334,195 | $2,994,740 | $2,813,710 | $(100) | $(9) | $515,116 | 515,013 | $847 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 18,535 | 408,001 | 424,300 | (37)* | 1 | 2,200 | 2,201 | 33* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 3,666 | 239,646 | 242,260 | — | — | 1,052 | 1,052 | 5* | — |
Total | $356,396 | $3,642,387 | $3,480,270 | $(137) | $(8) | $518,368 | $885 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Value Advantage Fund | |||||||||
For the year ended June 30, 2022 | |||||||||
Security Description | Value at June 30, 2021 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at June 30, 2022 | Shares at June 30, 2022 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 1.54% (a) (b) | $360,095 | $3,736,948 | $3,758,288 | $(44) | $8 | $338,719 | 338,651 | $614 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 1.50% (a) (b) | 41,074 | 624,998 | 619,000 | (22)* | 3 | 47,053 | 47,081 | 111* | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 1.38% (a) (b) | 5,968 | 451,028 | 450,739 | — | — | 6,257 | 6,257 | 18* | — |
Total | $407,137 | $4,812,974 | $4,828,027 | $(66) | $11 | $392,029 | $743 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
72 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
(b) | The rate shown is the current yield as of June 30, 2022. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | Total | |
Growth Advantage Fund | ||||||||||
Transfer agency fees | $112 | $51 | $78 | n/a | $2 | $1 | $—(a) | $3 | $78 | $325 |
Mid Cap Equity Fund | ||||||||||
Transfer agency fees | 6 | 1 | 29 | n/a | 1 | n/a | n/a | —(a) | 19 | 56 |
Mid Cap Growth Fund | ||||||||||
Transfer agency fees | 216 | 6 | 39 | n/a | 20 | 2 | 1 | 8 | 101 | 393 |
Mid Cap Value Fund | ||||||||||
Transfer agency fees | 77 | 3 | 35 | $19 | 6 | 2 | 1 | 1 | 85 | 229 |
Value Advantage Fund | ||||||||||
Transfer agency fees | 45 | 26 | 47 | 23 | —(a) | 1 | —(a) | —(a) | 45 | 187 |
(a) | Amount rounds to less than one thousand. |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 73 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
Growth Advantage Fund | $(29,807) | $48,787 | $(18,980) |
Mid Cap Equity Fund | — | (814) | 814 |
Mid Cap Growth Fund | (23,035) | 44,687 | (21,652) |
Mid Cap Value Fund | 155,920 | (1,485) | (154,435) |
Value Advantage Fund | — | (223) | 223 |
Growth Advantage Fund | 0.55% |
Mid Cap Equity Fund | 0.65 |
Mid Cap Growth Fund | 0.65 |
Mid Cap Value Fund | 0.65 |
Value Advantage Fund | 0.55 |
74 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Class A | Class C | Class R2 | Class R3 | |
Growth Advantage Fund | 0.25% | 0.75% | 0.50% | 0.25% |
Mid Cap Equity Fund | 0.25 | 0.75 | 0.50 | n/a |
Mid Cap Growth Fund | 0.25 | 0.75 | 0.50 | 0.25 |
Mid Cap Value Fund | 0.25 | 0.75 | 0.50 | 0.25 |
Value Advantage Fund | 0.25 | 0.75 | 0.50 | 0.25 |
Front-End Sales Charge | CDSC | |
Growth Advantage Fund | $516 | $3 |
Mid Cap Equity Fund | 96 | —(a) |
Mid Cap Growth Fund | 104 | 1 |
Mid Cap Value Fund | 71 | —(a) |
Value Advantage Fund | 182 | —(a) |
(a) | Amount rounds to less than one thousand. |
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | |
Growth Advantage Fund | 0.25% | 0.25% | 0.25% | n/a | 0.25% | 0.25% | 0.25% | 0.10% |
Mid Cap Equity Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | n/a | n/a | 0.10 |
Mid Cap Growth Fund | 0.25 | 0.25 | 0.25 | n/a | 0.25 | 0.25 | 0.25 | 0.10 |
Mid Cap Value Fund | 0.25 | 0.25 | 0.25 | 0.10% | 0.25 | 0.25 | 0.25 | 0.10 |
Value Advantage Fund | 0.25 | 0.25 | 0.25 | 0.10 | 0.25 | 0.25 | 0.25 | 0.10 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 75 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | |
Growth Advantage Fund | 1.04% (1) | 1.54% (1) | 0.79% (1) | n/a | 1.30% (1) | 1.05% (1) | 0.80% (1) | 0.65% (1) | 0.55%(1) |
Mid Cap Equity Fund | 1.14 | 1.64 | 0.89 | n/a | 1.39 | n/a | n/a | 0.74 | 0.64 |
Mid Cap Growth Fund | 1.14(2) | 1.64(2) | 0.89(2) | n/a | 1.45(2) | 1.20(2) | 0.95(2) | 0.79 | 0.70(2) |
Mid Cap Value Fund | 1.14(3) | 1.64(3) | 0.89(3) | 0.75%(3) | 1.40(3) | 1.15(3) | 0.90(3) | 0.75(3) | 0.65(3) |
Value Advantage Fund | 1.04(4) | 1.54(4) | 0.79(4) | 0.75(4) | 1.30(4) | 1.05(4) | 0.80(4) | 0.65(4) | 0.55(4) |
(1) | Prior to November 1, 2021, the contractual expense limitation was 1.14%, 1.64%, 0.89%, 1.39%, 1.14%, n/a, n/a and n/a for Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. |
(2) | Prior to November 1, 2021, the contractual expense limitation was 1.24%, n/a, 0.93%, 1.49%, n/a, 0.99% and 0.74% for Class A, Class C, Class I, Class R2, Class R3, Class R4 and Class R6 Shares, respectively. |
(3) | Prior to November 1, 2021, the contractual expense limitation was 1.24%, 1.75%, 0.99%, 1.50%, 1.25%, 1.00%, 0.85% and 0.73% for Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. |
(4) | Prior to November 1, 2021, the contractual expense limitation was 1.14%, 1.64%, 0.89%, 1.39%, 1.14%, 0.89%, 0.74% and 0.64% for Class A, Class C, Class I, Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively. |
Contractual Waivers | |||||
Investment Advisory Fees | Administration Fees | Service Fees | Total | Contractual Reimbursements | |
Growth Advantage Fund | $4,925 | $3,283 | $653 | $8,861 | $6 |
Mid Cap Equity Fund | 2,048 | 1,366 | 25 | 3,439 | 8 |
Mid Cap Growth Fund | 1,609 | 1,066 | 2,090 | 4,765 | 32 |
Mid Cap Value Fund | 4,889 | 3,250 | 2,478 | 10,617 | 72 |
Value Advantage Fund | 3,525 | 2,350 | 339 | 6,214 | 30 |
Growth Advantage Fund | $210 |
Mid Cap Equity Fund | 81 |
Mid Cap Growth Fund | 211 |
Mid Cap Value Fund | 207 |
Value Advantage Fund | 252 |
Growth Advantage Fund | $2 |
Mid Cap Equity Fund | 1 |
76 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Mid Cap Growth Fund | $1 |
Mid Cap Value Fund | 2 |
Value Advantage Fund | 2 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
Growth Advantage Fund | $5,401,617 | $4,800,581 |
Mid Cap Equity Fund | 1,245,305 | 954,747 |
Mid Cap Growth Fund | 4,398,395 | 3,846,285 |
Mid Cap Value Fund | 2,577,901 | 4,829,422 |
Value Advantage Fund | 2,378,926 | 3,387,709 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Growth Advantage Fund | $8,721,668 | $4,343,614 | $854,786 | $3,488,828 |
Mid Cap Equity Fund | 2,255,005 | 550,010 | 168,360 | 381,650 |
Mid Cap Growth Fund | 6,732,372 | 1,149,047 | 827,306 | 321,741 |
Mid Cap Value Fund | 9,649,345 | 4,689,266 | 536,660 | 4,152,606 |
Value Advantage Fund | 7,028,273 | 2,998,632 | 372,797 | 2,625,835 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 77 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
Growth Advantage Fund | $397,925 | $1,774,309 | $2,172,234 |
Mid Cap Equity Fund | 39,511 | 187,709 | 227,220 |
Mid Cap Growth Fund | 137,981 | 668,713 | 806,694 |
Mid Cap Value Fund | 283,763 | 2,012,740 | 2,296,503 |
Value Advantage Fund | 322,218 | 1,055,514 | 1,377,732 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
Growth Advantage Fund | $173,658 | $1,159,877 | $1,333,535 |
Mid Cap Equity Fund | 34,787 | 182,224 | 217,011 |
Mid Cap Growth Fund | 98,717 | 670,719 | 769,436 |
Mid Cap Value Fund | 166,699 | 903,443 | 1,070,142 |
Value Advantage Fund | 156,787 | 134,979 | 291,766 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Current Distributable Ordinary Income | Current Distributable Long-Term Capital Gain (Tax Basis Capital Loss Carryover) | Unrealized Appreciation (Depreciation) | |
Growth Advantage Fund | $— | $418,889 | $3,488,829 |
Mid Cap Equity Fund | 6,266 | 89,559 | 381,650 |
Mid Cap Growth Fund | — | 335,005 | 321,742 |
Mid Cap Value Fund | 149,662 | 1,027,143 | 4,152,606 |
Value Advantage Fund | 72,748 | 580,890 | 2,625,835 |
Net Capital Losses (Gains) Short-Term | ||
Late Year Ordinary Loss Deferral | ||
Growth Advantage Fund | $369,321 | $13,144 |
Mid Cap Equity Fund | 22,152 | — |
Mid Cap Growth Fund | 274,491 | 15,353 |
Value Advantage Fund | 6,581 | — |
78 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Number of Individual Shareholder and/or Affiliated Omnibus Accounts | % of the Fund | Number of Individual Shareholder and/or Non-Affiliated Omnibus Accounts | % of the Fund | |
Growth Advantage Fund | 1 | 13.2% | 1 | 23.8% |
Mid Cap Equity Fund | — | — | 2 | 68.4 |
Mid Cap Growth Fund | — | — | 2 | 29.3 |
Mid Cap Value Fund | — | — | 3 | 44.0 |
Value Advantage Fund | — | — | 2 | 25.7 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 79 |
AS OF June 30, 2022 (continued)
(Dollar values in thousands)
JPMorgan SmartRetirement Funds | |
Growth Advantage Fund | 16.0% |
Value Advantage Fund | 20.1 |
80 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 81 |
(Unaudited)
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 167 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present) |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered brokerdealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 167 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 167 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 167 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America U.S. Holdings (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 167 | None |
82 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 167 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director & Chief Investment Officer, IBM Retirement Funds (2007-2016). | 167 | Advisory Board Member, Penso Advisors LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 167 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 167 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 167 | None |
Marilyn McCoy (1948); Trustee since 2005. | Vice President of Administration and Planning, Northwestern University (1985-present). | 167 | None |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 83 |
(Unaudited) (continued)
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Dr. Robert A. Oden, Jr. (1946); Trustee since 2005. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 167 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021);Trustee, Dartmouth- Hitchcock MedicalCenter (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 167 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2022. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 167 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of the Global ETF Business for JPMorgan Asset Management (2013-2017); Head of the Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 167 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 167 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee(2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the Mutual Fund Board, the ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board’s current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(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 adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (167 J.P. Morgan Funds). |
84 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. | ||
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 85 |
(Unaudited)
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2016)* | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2018) | Executive Director, J.P. Morgan Investment Management Inc. since February 2016. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2019) (formerly Assistant Secretary 2010-2019)** | Managing Director and Assistant General Counsel, JPMorgan Chase. Mr. Samuels has been with JPMorgan Chase since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2005) | Managing Director, JPMorgan Chase & Co.; Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Matthew Beck (1988), Assistant Secretary (2021)*** | Vice President and Assistant General Counsel, JPMorgan Chase since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021)** | Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from 2015 to 2021. |
Elizabeth A. Davin (1964), Assistant Secretary (2005)*** | Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Davin has been with JPMorgan Chase (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2005)*** | Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Ditullio has been with JPMorgan Chase (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2018)** | Vice President and Assistant General Counsel, JPMorgan Chase since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2011)** | Executive Director and Assistant General Counsel, JPMorgan Chase. Mr. Lekstutis has been with JPMorgan Chase since 2011. |
Max Vogel (1990), Assistant Secretary (2021)** | Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 through June 2021; Associate, Stroock & Stroock & Lavan LLP (law firm) from October 2015 through March 2017. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017)** | Vice President and Assistant General Counsel, JPMorgan Chase since September 2016. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2012) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2019) | Vice President, J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2018)*** | Vice President, J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2017)*** | Vice President, J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2020) | Vice President, J.P. Morgan Investment Management Inc. since 2014. |
Joseph Parascondola (1963), Assistant Treasurer (2011)* | Executive Director, J.P. Morgan Investment Management, Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2012) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since 2012. |
86 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
** | The contact address for the officer is 4 New York Plaza, New York, NY 10004. |
*** | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 87 |
(Unaudited)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Growth Advantage Fund | ||||
Class A | ||||
Actual | $1,000.00 | $709.30 | $4.45 | 1.05% |
Hypothetical | 1,000.00 | 1,019.59 | 5.26 | 1.05 |
Class C | ||||
Actual | 1,000.00 | 707.30 | 6.56 | 1.55 |
Hypothetical | 1,000.00 | 1,017.11 | 7.75 | 1.55 |
Class I | ||||
Actual | 1,000.00 | 710.30 | 3.35 | 0.79 |
Hypothetical | 1,000.00 | 1,020.88 | 3.96 | 0.79 |
Class R2 | ||||
Actual | 1,000.00 | 708.30 | 5.51 | 1.30 |
Hypothetical | 1,000.00 | 1,018.35 | 6.51 | 1.30 |
Class R3 | ||||
Actual | 1,000.00 | 709.10 | 4.49 | 1.06 |
Hypothetical | 1,000.00 | 1,019.54 | 5.31 | 1.06 |
Class R4 | ||||
Actual | 1,000.00 | 710.10 | 3.39 | 0.80 |
Hypothetical | 1,000.00 | 1,020.83 | 4.01 | 0.80 |
Class R5 | ||||
Actual | 1,000.00 | 710.90 | 2.76 | 0.65 |
Hypothetical | 1,000.00 | 1,021.57 | 3.26 | 0.65 |
Class R6 | ||||
Actual | 1,000.00 | 711.30 | 2.33 | 0.55 |
Hypothetical | 1,000.00 | 1,022.07 | 2.76 | 0.55 |
88 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Mid Cap Equity Fund | ||||
Class A | ||||
Actual | $1,000.00 | $798.70 | $5.13 | 1.15% |
Hypothetical | 1,000.00 | 1,019.09 | 5.76 | 1.15 |
Class C | ||||
Actual | 1,000.00 | 796.70 | 7.35 | 1.65 |
Hypothetical | 1,000.00 | 1,016.61 | 8.25 | 1.65 |
Class I | ||||
Actual | 1,000.00 | 799.70 | 4.02 | 0.90 |
Hypothetical | 1,000.00 | 1,020.33 | 4.51 | 0.90 |
Class R2 | ||||
Actual | 1,000.00 | 797.80 | 6.24 | 1.40 |
Hypothetical | 1,000.00 | 1,017.85 | 7.00 | 1.40 |
Class R5 | ||||
Actual | 1,000.00 | 800.30 | 3.30 | 0.74 |
Hypothetical | 1,000.00 | 1,021.13 | 3.71 | 0.74 |
Class R6 | ||||
Actual | 1,000.00 | 800.70 | 2.90 | 0.65 |
Hypothetical | 1,000.00 | 1,021.57 | 3.26 | 0.65 |
JPMorgan Mid Cap Growth Fund | ||||
Class A | ||||
Actual | 1,000.00 | 699.00 | 4.80 | 1.14 |
Hypothetical | 1,000.00 | 1,019.14 | 5.71 | 1.14 |
Class C | ||||
Actual | 1,000.00 | 697.30 | 6.94 | 1.65 |
Hypothetical | 1,000.00 | 1,016.61 | 8.25 | 1.65 |
Class I | ||||
Actual | 1,000.00 | 699.80 | 3.75 | 0.89 |
Hypothetical | 1,000.00 | 1,020.38 | 4.46 | 0.89 |
Class R2 | ||||
Actual | 1,000.00 | 697.80 | 6.10 | 1.45 |
Hypothetical | 1,000.00 | 1,017.60 | 7.25 | 1.45 |
Class R3 | ||||
Actual | 1,000.00 | 698.80 | 5.05 | 1.20 |
Hypothetical | 1,000.00 | 1,018.84 | 6.01 | 1.20 |
Class R4 | ||||
Actual | 1,000.00 | 699.70 | 4.00 | 0.95 |
Hypothetical | 1,000.00 | 1,020.08 | 4.76 | 0.95 |
Class R5 | ||||
Actual | 1,000.00 | 700.20 | 3.33 | 0.79 |
Hypothetical | 1,000.00 | 1,020.88 | 3.96 | 0.79 |
Class R6 | ||||
Actual | 1,000.00 | 700.60 | 2.95 | 0.70 |
Hypothetical | 1,000.00 | 1,021.32 | 3.51 | 0.70 |
JPMorgan Mid Cap Value Fund | ||||
Class A | ||||
Actual | 1,000.00 | 865.80 | 5.27 | 1.14 |
Hypothetical | 1,000.00 | 1,019.14 | 5.71 | 1.14 |
Class C | ||||
Actual | 1,000.00 | 863.60 | 7.58 | 1.64 |
Hypothetical | 1,000.00 | 1,016.66 | 8.20 | 1.64 |
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 89 |
(Unaudited) (continued)
Hypothetical $1,000 Investment
Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Mid Cap Value Fund (continued) | ||||
Class I | ||||
Actual | $1,000.00 | $866.80 | $4.12 | 0.89% |
Hypothetical | 1,000.00 | 1,020.38 | 4.46 | 0.89 |
Class L | ||||
Actual | 1,000.00 | 867.30 | 3.47 | 0.75 |
Hypothetical | 1,000.00 | 1,021.08 | 3.76 | 0.75 |
Class R2 | ||||
Actual | 1,000.00 | 864.70 | 6.47 | 1.40 |
Hypothetical | 1,000.00 | 1,017.85 | 7.00 | 1.40 |
Class R3 | ||||
Actual | 1,000.00 | 865.70 | 5.32 | 1.15 |
Hypothetical | 1,000.00 | 1,019.09 | 5.76 | 1.15 |
Class R4 | ||||
Actual | 1,000.00 | 866.90 | 4.17 | 0.90 |
Hypothetical | 1,000.00 | 1,020.33 | 4.51 | 0.90 |
Class R5 | ||||
Actual | 1,000.00 | 867.60 | 3.47 | 0.75 |
Hypothetical | 1,000.00 | 1,021.08 | 3.76 | 0.75 |
Class R6 | ||||
Actual | 1,000.00 | 868.00 | 3.01 | 0.65 |
Hypothetical | 1,000.00 | 1,021.57 | 3.26 | 0.65 |
JPMorgan Value Advantage Fund | ||||
Class A | ||||
Actual | 1,000.00 | 909.40 | 4.92 | 1.04 |
Hypothetical | 1,000.00 | 1,019.64 | 5.21 | 1.04 |
Class C | ||||
Actual | 1,000.00 | 907.50 | 7.28 | 1.54 |
Hypothetical | 1,000.00 | 1,017.16 | 7.70 | 1.54 |
Class I | ||||
Actual | 1,000.00 | 910.70 | 3.74 | 0.79 |
Hypothetical | 1,000.00 | 1,020.88 | 3.96 | 0.79 |
Class L | ||||
Actual | 1,000.00 | 911.30 | 3.08 | 0.65 |
Hypothetical | 1,000.00 | 1,021.57 | 3.26 | 0.65 |
Class R2 | ||||
Actual | 1,000.00 | 908.30 | 6.15 | 1.30 |
Hypothetical | 1,000.00 | 1,018.35 | 6.51 | 1.30 |
Class R3 | ||||
Actual | 1,000.00 | 909.60 | 4.97 | 1.05 |
Hypothetical | 1,000.00 | 1,019.59 | 5.26 | 1.05 |
Class R4 | ||||
Actual | 1,000.00 | 910.70 | 3.79 | 0.80 |
Hypothetical | 1,000.00 | 1,020.83 | 4.01 | 0.80 |
Class R5 | ||||
Actual | 1,000.00 | 911.40 | 3.08 | 0.65 |
Hypothetical | 1,000.00 | 1,021.57 | 3.26 | 0.65 |
Class R6 | ||||
Actual | 1,000.00 | 911.60 | 2.61 | 0.55 |
Hypothetical | 1,000.00 | 1,022.07 | 2.76 | 0.55 |
* | Expenses are equal to each Class’ respective annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
90 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
(Unaudited)
June 30, 2022 | J.P. Morgan Mid Cap/Multi-Cap Funds | 91 |
(Unaudited)
(Dollar values in thousands)
Dividends Received Deduction | |
JPMorgan Growth Advantage Fund | 19.05% |
JPMorgan Mid Cap Equity Fund | 79.42 |
JPMorgan Mid Cap Growth Fund | 22.03 |
JPMorgan Mid Cap Value Fund | 92.87 |
JPMorgan Value Advantage Fund | 62.99 |
Long-Term Capital Gain Distribution | |
JPMorgan Growth Advantage Fund | $1,774,309 |
JPMorgan Mid Cap Equity Fund | 187,709 |
JPMorgan Mid Cap Growth Fund | 668,713 |
JPMorgan Mid Cap Value Fund | 2,012,740 |
JPMorgan Value Advantage Fund | 1,055,514 |
Qualified Dividend Income | |
JPMorgan Growth Advantage Fund | $78,076 |
JPMorgan Mid Cap Equity Fund | 31,706 |
JPMorgan Mid Cap Growth Fund | 32,616 |
JPMorgan Mid Cap Value Fund | 263,930 |
JPMorgan Value Advantage Fund | 207,543 |
JPMorgan Mid Cap Equity Fund | $2,063 |
92 | J.P. Morgan Mid Cap/Multi-Cap Funds | June 30, 2022 |
FACTS | WHAT DOES J.P. MORGAN FUNDS DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include: |
◾Social Security number and account balances | |
◾transaction history and account transactions | |
◾checking account information and wire transfer instructions | |
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons J.P. Morgan Funds chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does J.P. Morgan Funds share? | Can you limit this sharing? |
For our everyday business purposes — such as to process your transactions, maintain your account(s),respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For marketing purposes — to offer our products and services to you | Yes | No |
For joint marketing with other financial companies | No | We don't share |
For our affiliates’ everyday business purposes — information about your transactions and experiences | No | We don't share |
For our affiliates’ everyday business purposes — information about your creditworthiness | No | We don't share |
For nonaffiliates to market to you | No | We don't share |
Questions? | Call 1-800-480-4111 or go to www.jpmorganfunds.com |
Page 2 |
Who we are | |
Who is providing this notice? | J.P. Morgan Funds |
What we do | |
How does J.P. Morgan Funds protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We authorize our employees to access your information only when they need it to do their work and we require companies that work for us to protect your information. |
How does J.P. Morgan Funds protect my personal information? | We collect your personal information, for example, when you: |
◾open an account or provide contact information | |
◾give us your account information or pay us by check | |
◾make a wire transfer | |
We also collect your personal information from others, such as credit bureaus, affiliates and other companies. | |
Why can’t I limit all sharing? | Federal law gives you the right to limit only |
◾sharing for affiliates’ everyday business purposes – information about your creditworthiness | |
◾affiliates from using your information to market to you | |
◾sharing for nonaffiliates to market to you | |
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies. |
◾J.P. Morgan Funds does not share with our affiliates. | |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies. |
◾J.P. Morgan Funds does not share with nonaffiliates so they can market to you. | |
Joint Marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
◾J.P. Morgan Funds doesn’t jointly market. |
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 13(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 Kathleen M. Gallagher. Ms. Gallagher is not an “interested person” of the Registrant and is also “independent” as defined by the U.S. Securities and Exchange Commission for the purposes of the audit committee financial expert determination.
(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
2022 – $33,674
2021 – $33,448
(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
2022 – $5,495
2021 – $5,495
Audit-related fees consists of semi-annual financial statement reviews and security count procedures performed as required under Rule 17f-2 of the Investment Company Act of 1940 during the Registrant’s fiscal year.
(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
2022 – $10,460
2021 – $10,539
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, 2022 and 2021, 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
2022 – Not applicable
2021 – 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.
2022 – 0.0%
2021 – 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.
Not applicable - Less than 50%.
(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, and rendered to Service Affiliates, for the last two calendar year ends were:
2021—$30.5 million
2020—$30.0 million
(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.
(i) A registrant identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form NCSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction must electronically submit to the Commission on a supplemental basis documentation that establishes that the registrant is not owned or controlled by a governmental entity in the foreign jurisdiction. The registrant must submit this documentation on or before the due date for this form. A registrant that is owned or controlled by a foreign governmental entity is not required to submit such documentation.
Not applicable.
(j) A registrant that is a foreign issuer, as defined in 17 CFR 240.3b-4, identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction, for each year in which the registrant is so identified, must provide the below disclosures. Also, any such identified foreign issuer that uses a variable-interest entity or any similar structure that results in additional foreign entities being consolidated in the financial statements of the registrant is required to provide the below disclosures for itself and its consolidated foreign operating entity or entities. A registrant must disclose:
(1) | That, for the immediately preceding annual financial statement period, a registered public accounting firm that the PCAOB was unable to inspect or investigate completely, because of a position taken by an authority in the foreign jurisdiction, issued an audit report for the registrant; |
(2) | The percentage of shares of the registrant owned by governmental entities in the foreign jurisdiction in which the registrant is incorporated or otherwise organized; |
(3) | Whether governmental entities in the applicable foreign jurisdiction with respect to that registered public accounting firm have a controlling financial interest with respect to the registrant; |
(4) | The name of each official of the Chinese Communist Party who is a member of the board of directors of the registrant or the operating entity with respect to the registrant; and |
(5) | Whether the articles of incorporation of the registrant (or equivalent organizing document) contains any charter of the Chinese Communist Party, including the text of any such charter. |
Not applicable.
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. 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.
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.
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. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. EXHIBITS.
(a) | File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated. |
(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.
Not applicable.
(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(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), exactly as set forth below:
(1) 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.
(2) Change in the registrant’s independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period.
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. |
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/ Brian S. Shlissel | |
Brian S. Shlissel | ||
President and Principal Executive Officer | ||
September 6, 2022 |
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/ Brian S. Shlissel | |
Brian S. Shlissel | ||
President and Principal Executive Officer | ||
September 6, 2022 | ||
By: | /s/ Timothy J. Clemens | |
Timothy J. Clemens | ||
Treasurer and Principal Financial Officer | ||
September 6, 2022 |