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, 2023 through December 31, 2023
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 | |
8 | |
11 | |
14 | |
18 | |
34 | |
54 | |
74 | |
88 | |
91 |
“Investors appear to have begun 2024 with a positive outlook, with the U.S. economy and its financial markets leading global growth.” — Brian S. Shlissel |
President, J.P. Morgan Funds
J.P. Morgan Asset Management
1-800-480-4111 or www.jpmorganfunds.com for more information
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 1 |
2 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
REPORTING PERIOD RETURN: | |
Fund (Class A Shares, without a sales charge) * | 9.59% |
Russell 3000 Growth Index | 10.28% |
Net Assets as of 12/31/2023 (In Thousands) | $17,238,521 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 10.0 % |
2. | Apple, Inc. | 6.9 |
3. | Amazon.com, Inc. | 6.0 |
4. | NVIDIA Corp. | 4.8 |
5. | Meta Platforms, Inc., Class A | 4.6 |
6. | Alphabet, Inc., Class C | 4.1 |
7. | Mastercard, Inc., Class A | 3.3 |
8. | Broadcom, Inc. | 2.3 |
9. | Tesla, Inc. | 2.2 |
10. | Eli Lilly & Co. | 2.1 |
PORTFOLIO COMPOSITION BY SECTOR AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 38.3% |
Consumer Discretionary | 14.9 |
Health Care | 12.1 |
Communication Services | 11.6 |
Industrials | 10.3 |
Financials | 8.1 |
Energy | 2.2 |
Others (each less than 1.0%) | 0.9 |
Short-Term Investments | 1.6 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 3 |
INCEPTION DATE OF CLASS | 6 MONTH* | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | October 29, 1999 | ||||
With Sales Charge ** | 3.84 % | 32.47 % | 18.58 % | 14.12 % | |
Without Sales Charge | 9.59 | 39.80 | 19.86 | 14.74 | |
CLASS C SHARES | May 1, 2006 | ||||
With CDSC *** | 8.35 | 38.05 | 19.26 | 14.28 | |
Without CDSC | 9.35 | 39.05 | 19.26 | 14.28 | |
CLASS I SHARES | May 1, 2006 | 9.77 | 40.16 | 20.16 | 14.99 |
CLASS R2 SHARES | July 31, 2017 | 9.46 | 39.38 | 19.55 | 14.44 |
CLASS R3 SHARES | May 31, 2017 | 9.61 | 39.78 | 19.85 | 14.73 |
CLASS R4 SHARES | May 31, 2017 | 9.76 | 40.14 | 20.16 | 15.01 |
CLASS R5 SHARES | January 8, 2009 | 9.82 | 40.35 | 20.33 | 15.18 |
CLASS R6 SHARES | December 23, 2013 | 9.89 | 40.47 | 20.46 | 15.30 |
* | Not annualized. |
** | Sales Charge for Class A Shares is 5.25%. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the 6 month and one year periods and 0% CDSC thereafter. |
4 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | 6.99% |
Russell Midcap Index | 7.54% |
Net Assets as of 12/31/2023 (In Thousands) | $3,953,727 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | ITT, Inc. | 1.4 % |
2. | AMETEK, Inc. | 1.3 |
3. | Hubbell, Inc., Class B | 1.3 |
4. | Ameriprise Financial, Inc. | 1.2 |
5. | Loews Corp. | 1.2 |
6. | Raymond James Financial, Inc. | 1.2 |
7. | Teledyne Technologies, Inc. | 1.1 |
8. | Amphenol Corp., Class A | 1.1 |
9. | Cencora, Inc. | 1.1 |
10. | Snap-on, Inc. | 1.0 |
PORTFOLIO COMPOSITION BY SECTOR AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 17.0% |
Industrials | 16.6 |
Information Technology | 13.1 |
Health Care | 11.7 |
Consumer Discretionary | 11.6 |
Real Estate | 7.2 |
Utilities | 4.7 |
Materials | 4.4 |
Energy | 3.6 |
Consumer Staples | 3.2 |
Communication Services | 2.8 |
Short-Term Investments | 4.1 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 5 |
6 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INCEPTION DATE OF CLASS | 6 MONTH* | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | November 2, 2009 | ||||
With Sales Charge ** | 1.24 % | 9.79 % | 12.29 % | 9.03 % | |
Without Sales Charge | 6.85 | 15.87 | 13.51 | 9.61 | |
CLASS C SHARES | November 2, 2009 | ||||
With CDSC *** | 5.60 | 14.30 | 12.95 | 9.18 | |
Without CDSC | 6.60 | 15.30 | 12.95 | 9.18 | |
CLASS I SHARES | January 1, 1997 | 6.99 | 16.16 | 13.80 | 9.93 |
CLASS R2 SHARES | March 14, 2014 | 6.71 | 15.58 | 13.23 | 9.35 |
CLASS R5 SHARES | March 14, 2014 | 7.06 | 16.34 | 13.97 | 10.07 |
CLASS R6 SHARES | March 14, 2014 | 7.13 | 16.48 | 14.08 | 10.16 |
* | Not annualized. |
** | Sales Charge for Class A Shares is 5.25%. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the 6 month and one year periods and 0% CDSC thereafter. |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 7 |
REPORTING PERIOD RETURN: | |
Fund (Class I Shares) * | 7.02% |
Russell Midcap Growth Index | 8.56% |
Net Assets as of 12/31/2023 (In Thousands) | $10,349,519 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Crowdstrike Holdings, Inc., Class A | 2.4 % |
2. | Ross Stores, Inc. | 2.3 |
3. | Cheniere Energy, Inc. | 2.0 |
4. | Trane Technologies plc | 1.9 |
5. | Copart, Inc. | 1.9 |
6. | Agilent Technologies, Inc. | 1.8 |
7. | Dexcom, Inc. | 1.7 |
8. | Trade Desk, Inc. (The), Class A | 1.6 |
9. | MongoDB, Inc. | 1.5 |
10. | DoorDash, Inc., Class A | 1.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 24.0% |
Health Care | 19.7 |
Industrials | 19.0 |
Consumer Discretionary | 14.6 |
Financials | 10.6 |
Energy | 3.7 |
Communication Services | 2.8 |
Consumer Staples | 1.1 |
Others (each less than 1.0%) | 0.3 |
Short-Term Investments | 4.2 |
8 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 9 |
INCEPTION DATE OF CLASS | 6 MONTH* | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 18, 1992 | ||||
With Sales Charge ** | 1.30 % | 16.38 % | 13.98 % | 10.28 % | |
Without Sales Charge | 6.91 | 22.83 | 15.21 | 10.87 | |
CLASS C SHARES | November 4, 1997 | ||||
With CDSC *** | 5.61 | 21.19 | 14.63 | 10.43 | |
Without CDSC | 6.61 | 22.19 | 14.63 | 10.43 | |
CLASS I SHARES | March 2, 1989 | 7.02 | 23.11 | 15.54 | 11.20 |
CLASS R2 SHARES | June 19, 2009 | 6.73 | 22.44 | 14.89 | 10.61 |
CLASS R3 SHARES | September 9, 2016 | 6.88 | 22.73 | 15.18 | 10.86 |
CLASS R4 SHARES | September 9, 2016 | 7.01 | 23.06 | 15.47 | 11.13 |
CLASS R5 SHARES | November 1, 2011 | 7.09 | 23.24 | 15.68 | 11.35 |
CLASS R6 SHARES | November 1, 2011 | 7.14 | 23.35 | 15.76 | 11.41 |
* | Not annualized. |
** | Sales Charge for Class A Shares is 5.25%. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the 6 month and one year periods and 0% CDSC thereafter. |
10 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
REPORTING PERIOD RETURN: | |
Fund (Class L Shares) * | 7.05% |
Russell Midcap Value Index | 7.11% |
Net Assets as of 12/31/2023 (In Thousands) | $13,174,819 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Ameriprise Financial, Inc. | 2.0 % |
2. | Loews Corp. | 1.9 |
3. | Cencora, Inc. | 1.7 |
4. | Snap-on, Inc. | 1.7 |
5. | Hubbell, Inc., Class B | 1.6 |
6. | ITT, Inc. | 1.6 |
7. | Martin Marietta Materials, Inc. | 1.6 |
8. | CMS Energy Corp. | 1.6 |
9. | M&T Bank Corp. | 1.5 |
10. | Lincoln Electric Holdings, Inc. | 1.5 |
PORTFOLIO COMPOSITION BY SECTOR AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 20.9% |
Industrials | 15.6 |
Real Estate | 11.3 |
Consumer Discretionary | 10.1 |
Health Care | 7.5 |
Utilities | 7.4 |
Information Technology | 7.4 |
Materials | 6.8 |
Consumer Staples | 4.5 |
Energy | 3.6 |
Communication Services | 2.9 |
Short-Term Investments | 2.0 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 11 |
INCEPTION DATE OF CLASS | 6 MONTH* | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | April 30, 2001 | ||||
With Sales Charge ** | 1.26 % | 5.03 % | 9.40 % | 7.07 % | |
Without Sales Charge | 6.86 | 10.86 | 10.59 | 7.65 | |
CLASS C SHARES | April 30, 2001 | ||||
With CDSC *** | 5.58 | 9.29 | 10.03 | 7.21 | |
Without CDSC | 6.58 | 10.29 | 10.03 | 7.21 | |
CLASS I SHARES | October 31, 2001 | 7.00 | 11.13 | 10.86 | 7.91 |
CLASS L SHARES | November 13, 1997 | 7.05 | 11.29 | 11.08 | 8.15 |
CLASS R2 SHARES | November 3, 2008 | 6.74 | 10.56 | 10.30 | 7.37 |
CLASS R3 SHARES | September 9, 2016 | 6.85 | 10.84 | 10.58 | 7.65 |
CLASS R4 SHARES | September 9, 2016 | 6.99 | 11.11 | 10.86 | 7.91 |
CLASS R5 SHARES | September 9, 2016 | 7.07 | 11.29 | 11.03 | 8.10 |
CLASS R6 SHARES | September 9, 2016 | 7.10 | 11.38 | 11.14 | 8.18 |
* | Not annualized. |
** | Sales Charge for Class A Shares is 5.25%. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the 6 month and one year periods and 0% CDSC thereafter. |
12 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 13 |
REPORTING PERIOD RETURN: | |
Fund (Class L Shares) * | 8.03% |
Russell 3000 Value Index | 6.36% |
Net Assets as of 12/31/2023 (In Thousands) | $8,856,218 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Berkshire Hathaway, Inc., Class B | 3.0 % |
2. | Capital One Financial Corp. | 2.6 |
3. | Wells Fargo & Co. | 2.4 |
4. | Bank of America Corp. | 2.0 |
5. | M&T Bank Corp. | 1.9 |
6. | ConocoPhillips | 1.9 |
7. | AbbVie, Inc. | 1.8 |
8. | Loews Corp. | 1.7 |
9. | Chevron Corp. | 1.6 |
10. | Martin Marietta Materials, Inc. | 1.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF December 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 26.5% |
Health Care | 13.4 |
Real Estate | 9.7 |
Industrials | 8.8 |
Consumer Discretionary | 8.6 |
Energy | 8.2 |
Consumer Staples | 6.0 |
Communication Services | 4.6 |
Materials | 4.5 |
Information Technology | 4.3 |
Utilities | 3.7 |
Short-Term Investments | 1.7 |
14 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 15 |
INCEPTION DATE OF CLASS | 6 MONTH* | 1 YEAR | 5 YEAR | 10 YEAR | |
CLASS A SHARES | February 28, 2005 | ||||
With Sales Charge ** | 2.16 % | 3.73 % | 9.64 % | 7.45 % | |
Without Sales Charge | 7.82 | 9.48 | 10.83 | 8.03 | |
CLASS C SHARES | February 28, 2005 | ||||
With CDSC *** | 6.57 | 7.94 | 10.28 | 7.60 | |
Without CDSC | 7.57 | 8.94 | 10.28 | 7.60 | |
CLASS I SHARES | February 28, 2005 | 7.98 | 9.78 | 11.11 | 8.30 |
CLASS L SHARES | February 28, 2005 | 8.03 | 9.90 | 11.27 | 8.50 |
CLASS R2 SHARES | July 31, 2017 | 7.68 | 9.20 | 10.55 | 7.76 |
CLASS R3 SHARES | September 9, 2016 | 7.82 | 9.47 | 10.83 | 8.03 |
CLASS R4 SHARES | September 9, 2016 | 7.97 | 9.76 | 11.11 | 8.30 |
CLASS R5 SHARES | September 9, 2016 | 8.04 | 9.91 | 11.27 | 8.49 |
CLASS R6 SHARES | September 9, 2016 | 8.10 | 10.00 | 11.38 | 8.57 |
* | Not annualized. |
** | Sales Charge for Class A Shares is 5.25%. |
*** | Assumes a 1% CDSC (contingent deferred sales charge) for the 6 month and one year periods and 0% CDSC thereafter. |
16 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 17 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 98.5% | ||
Automobiles — 2.2% | ||
Tesla, Inc. * | 1,551 | 385,464 |
Beverages — 0.5% | ||
Constellation Brands, Inc., Class A | 364 | 88,081 |
Biotechnology — 3.8% | ||
Alnylam Pharmaceuticals, Inc. * | 523 | 100,197 |
Exact Sciences Corp. * | 1,855 | 137,255 |
Natera, Inc. * (a) | 1,340 | 83,944 |
Regeneron Pharmaceuticals, Inc. * | 389 | 341,203 |
662,599 | ||
Broadline Retail — 6.0% | ||
Amazon.com, Inc. * | 6,786 | 1,031,036 |
Building Products — 1.4% | ||
Trane Technologies plc | 970 | 236,623 |
Capital Markets — 3.9% | ||
Blackstone, Inc. | 1,878 | 245,807 |
Morgan Stanley | 2,294 | 213,942 |
S&P Global, Inc. | 491 | 216,445 |
676,194 | ||
Commercial Services & Supplies — 1.0% | ||
Copart, Inc. * | 3,612 | 176,973 |
Communications Equipment — 0.6% | ||
Arista Networks, Inc. * | 446 | 105,150 |
Construction & Engineering — 1.7% | ||
AECOM | 894 | 82,573 |
Quanta Services, Inc. | 946 | 204,185 |
286,758 | ||
Distributors — 0.4% | ||
Pool Corp. | 168 | 67,018 |
Electrical Equipment — 1.5% | ||
AMETEK, Inc. | 1,045 | 172,246 |
Hubbell, Inc., Class B | 246 | 81,072 |
253,318 | ||
Electronic Equipment, Instruments & Components — 0.8% | ||
Jabil, Inc. (a) | 1,027 | 130,773 |
Energy Equipment & Services — 0.9% | ||
TechnipFMC plc (United Kingdom) | 7,520 | 151,462 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Entertainment — 2.1% | ||
Netflix, Inc. * | 376 | 183,140 |
Take-Two Interactive Software, Inc. * | 1,109 | 178,487 |
361,627 | ||
Financial Services — 3.3% | ||
Mastercard, Inc., Class A | 1,323 | 564,367 |
Ground Transportation — 2.8% | ||
JB Hunt Transport Services, Inc. | 556 | 110,959 |
Old Dominion Freight Line, Inc. | 282 | 114,406 |
Uber Technologies, Inc. * | 4,249 | 261,641 |
487,006 | ||
Health Care Equipment & Supplies — 2.0% | ||
Align Technology, Inc. * | 217 | 59,603 |
Cooper Cos., Inc. (The) | 305 | 115,290 |
Intuitive Surgical, Inc. * | 514 | 173,424 |
348,317 | ||
Health Care Providers & Services — 2.6% | ||
McKesson Corp. | 209 | 96,611 |
UnitedHealth Group, Inc. | 658 | 346,498 |
443,109 | ||
Hotels, Restaurants & Leisure — 1.9% | ||
Booking Holdings, Inc. * | 57 | 202,333 |
Hilton Worldwide Holdings, Inc. | 648 | 118,031 |
320,364 | ||
Household Durables — 0.5% | ||
Garmin Ltd. | 746 | 95,860 |
Insurance — 0.9% | ||
Progressive Corp. (The) | 980 | 156,142 |
Interactive Media & Services — 8.7% | ||
Alphabet, Inc., Class C * | 5,049 | 711,530 |
Meta Platforms, Inc., Class A * | 2,249 | 795,993 |
1,507,523 | ||
IT Services — 1.6% | ||
MongoDB, Inc. * (a) | 330 | 134,976 |
Snowflake, Inc., Class A * | 685 | 136,286 |
271,262 | ||
Life Sciences Tools & Services — 1.3% | ||
Mettler-Toledo International, Inc. * | 38 | 46,773 |
Thermo Fisher Scientific, Inc. | 325 | 172,427 |
219,200 |
18 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Machinery — 0.9% | ||
Ingersoll Rand, Inc. | 2,045 | 158,126 |
Media — 0.8% | ||
Trade Desk, Inc. (The), Class A * | 1,819 | 130,913 |
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 1,486 | 63,250 |
Oil, Gas & Consumable Fuels — 1.3% | ||
Cheniere Energy, Inc. | 741 | 126,452 |
EOG Resources, Inc. | 826 | 99,894 |
226,346 | ||
Pharmaceuticals — 2.5% | ||
Eli Lilly & Co. | 603 | 351,557 |
Royalty Pharma plc, Class A | 2,578 | 72,407 |
423,964 | ||
Professional Services — 0.7% | ||
Booz Allen Hamilton Holding Corp. | 1,011 | 129,274 |
Semiconductors & Semiconductor Equipment — 10.3% | ||
Advanced Micro Devices, Inc. * | 1,465 | 215,976 |
Broadcom, Inc. | 363 | 405,752 |
Entegris, Inc. | 971 | 116,336 |
Lam Research Corp. | 270 | 211,228 |
NVIDIA Corp. | 1,663 | 823,411 |
1,772,703 | ||
Software — 18.2% | ||
Cadence Design Systems, Inc. * | 385 | 104,880 |
Confluent, Inc., Class A * | 3,453 | 80,803 |
Coreweave, Inc. ‡ * (b) | 49 | 15,096 |
Crowdstrike Holdings, Inc., Class A * | 536 | 136,835 |
HubSpot, Inc. * | 214 | 124,243 |
Intuit, Inc. | 505 | 315,312 |
Microsoft Corp. | 4,589 | 1,725,541 |
Oracle Corp. | 963 | 101,570 |
Palo Alto Networks, Inc. * | 831 | 245,143 |
Synopsys, Inc. * | 253 | 130,309 |
Workday, Inc., Class A * | 551 | 152,028 |
3,131,760 | ||
Specialty Retail — 3.1% | ||
Lowe's Cos., Inc. | 845 | 188,072 |
Ross Stores, Inc. | 1,075 | 148,736 |
TJX Cos., Inc. (The) | 2,202 | 206,583 |
543,391 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Technology Hardware, Storage & Peripherals — 6.9% | ||
Apple, Inc. | 6,216 | 1,196,733 |
Textiles, Apparel & Luxury Goods — 0.7% | ||
Lululemon Athletica, Inc. * | 240 | 122,919 |
Trading Companies & Distributors — 0.3% | ||
Air Lease Corp., Class A | 1,394 | 58,479 |
Total Common Stocks (Cost $8,782,642) | 16,984,084 | |
Short-Term Investments — 1.7% | ||
Investment Companies — 1.5% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (c) (d) (Cost $257,039) | 256,963 | 257,169 |
Investment of Cash Collateral from Securities Loaned — 0.2% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (c) (d) | 21,996 | 22,004 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (c) (d) | 4,320 | 4,320 |
Total Investment of Cash Collateral from Securities Loaned (Cost $26,324) | 26,324 | |
Total Short-Term Investments (Cost $283,363) | 283,493 | |
Total Investments — 100.2% (Cost $9,066,005) | 17,267,577 | |
Liabilities in Excess of Other Assets — (0.2)% | (29,056 ) | |
NET ASSETS — 100.0% | 17,238,521 |
Percentages indicated are based on net assets. |
‡ | Value determined using significant unobservable inputs. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at December 31, 2023. The total value of securities on loan at December 31, 2023 is $25,418. |
(b) | Restricted security. See Note 2.B. |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(d) | The rate shown is the current yield as of December 31, 2023. |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 19 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 97.5% | ||
Aerospace & Defense — 0.4% | ||
HEICO Corp., Class A | 120 | 17,159 |
Automobiles — 0.2% | ||
Thor Industries, Inc. (a) | 59 | 7,030 |
Banks — 4.3% | ||
Fifth Third Bancorp | 927 | 31,975 |
First Citizens BancShares, Inc., Class A | 20 | 28,595 |
Huntington Bancshares, Inc. | 2,664 | 33,881 |
M&T Bank Corp. | 285 | 39,135 |
Regions Financial Corp. | 1,812 | 35,116 |
168,702 | ||
Beverages — 1.2% | ||
Constellation Brands, Inc., Class A | 105 | 25,432 |
Keurig Dr Pepper, Inc. | 642 | 21,388 |
46,820 | ||
Biotechnology — 1.8% | ||
Alnylam Pharmaceuticals, Inc. * | 67 | 12,762 |
Amicus Therapeutics, Inc. * | 403 | 5,710 |
Apellis Pharmaceuticals, Inc. * (a) | 92 | 5,520 |
Exact Sciences Corp. * (a) | 187 | 13,852 |
Exelixis, Inc. * | 419 | 10,058 |
Natera, Inc. * | 214 | 13,398 |
Neurocrine Biosciences, Inc. * | 87 | 11,503 |
72,803 | ||
Building Products — 2.5% | ||
Carlisle Cos., Inc. | 95 | 29,763 |
Fortune Brands Innovations, Inc. | 456 | 34,714 |
Simpson Manufacturing Co., Inc. | 40 | 7,895 |
Trane Technologies plc | 113 | 27,443 |
99,815 | ||
Capital Markets — 6.5% | ||
Ameriprise Financial, Inc. | 131 | 49,641 |
Ares Management Corp., Class A | 151 | 17,983 |
FactSet Research Systems, Inc. | 32 | 15,473 |
Interactive Brokers Group, Inc., Class A | 82 | 6,806 |
KKR & Co., Inc. | 215 | 17,835 |
LPL Financial Holdings, Inc. | 48 | 10,859 |
Moody's Corp. | 30 | 11,578 |
MSCI, Inc. | 30 | 16,674 |
Northern Trust Corp. | 223 | 18,856 |
Raymond James Financial, Inc. | 418 | 46,617 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Capital Markets — continued | ||
State Street Corp. | 419 | 32,474 |
Tradeweb Markets, Inc., Class A | 131 | 11,910 |
256,706 | ||
Chemicals — 1.2% | ||
Celanese Corp. | 68 | 10,586 |
RPM International, Inc. | 313 | 34,869 |
45,455 | ||
Commercial Services & Supplies — 1.3% | ||
Cintas Corp. | 27 | 16,142 |
Copart, Inc. * | 549 | 26,902 |
MSA Safety, Inc. | 49 | 8,380 |
51,424 | ||
Communications Equipment — 0.7% | ||
Arista Networks, Inc. * | 34 | 8,059 |
Motorola Solutions, Inc. | 62 | 19,267 |
27,326 | ||
Construction & Engineering — 0.8% | ||
AECOM | 115 | 10,675 |
Quanta Services, Inc. (a) | 93 | 19,975 |
30,650 | ||
Construction Materials — 1.0% | ||
Martin Marietta Materials, Inc. | 81 | 40,560 |
Consumer Finance — 0.5% | ||
Discover Financial Services | 173 | 19,489 |
Consumer Staples Distribution & Retail — 1.2% | ||
Kroger Co. (The) | 398 | 18,213 |
US Foods Holding Corp. * | 607 | 27,545 |
45,758 | ||
Containers & Packaging — 1.9% | ||
Ball Corp. | 305 | 17,554 |
Packaging Corp. of America | 193 | 31,393 |
Silgan Holdings, Inc. | 584 | 26,446 |
75,393 | ||
Distributors — 1.5% | ||
Genuine Parts Co. | 123 | 16,981 |
LKQ Corp. | 632 | 30,210 |
Pool Corp. (a) | 34 | 13,588 |
60,779 |
20 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Diversified Consumer Services — 0.3% | ||
Bright Horizons Family Solutions, Inc. * (a) | 110 | 10,397 |
Diversified REITs — 0.4% | ||
WP Carey, Inc. (a) | 273 | 17,683 |
Electric Utilities — 2.3% | ||
Edison International | 296 | 21,147 |
PG&E Corp. | 2,084 | 37,580 |
Xcel Energy, Inc. | 490 | 30,327 |
89,054 | ||
Electrical Equipment — 3.3% | ||
Acuity Brands, Inc. | 136 | 27,977 |
AMETEK, Inc. | 317 | 52,271 |
Hubbell, Inc., Class B | 155 | 50,890 |
131,138 | ||
Electronic Equipment, Instruments & Components — 4.2% | ||
Amphenol Corp., Class A | 448 | 44,344 |
CDW Corp. | 108 | 24,573 |
Jabil, Inc. | 175 | 22,316 |
Keysight Technologies, Inc. * | 52 | 8,302 |
Teledyne Technologies, Inc. * | 100 | 44,712 |
Zebra Technologies Corp., Class A * | 81 | 22,089 |
166,336 | ||
Energy Equipment & Services — 0.3% | ||
TechnipFMC plc (United Kingdom) | 595 | 11,982 |
Entertainment — 1.1% | ||
Liberty Media Corp-Liberty Live, Class C * | 234 | 8,758 |
Take-Two Interactive Software, Inc. * | 226 | 36,335 |
45,093 | ||
Financial Services — 1.8% | ||
Fidelity National Information Services, Inc. | 164 | 9,842 |
Global Payments, Inc. | 45 | 5,640 |
MGIC Investment Corp. | 1,286 | 24,815 |
Remitly Global, Inc. * | 420 | 8,161 |
Rocket Cos., Inc., Class A * (a) | 504 | 7,295 |
Voya Financial, Inc. | 232 | 16,945 |
72,698 | ||
Food Products — 0.4% | ||
Post Holdings, Inc. * | 189 | 16,642 |
Gas Utilities — 0.5% | ||
National Fuel Gas Co. | 419 | 20,996 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Ground Transportation — 1.1% | ||
JB Hunt Transport Services, Inc. | 60 | 12,063 |
Old Dominion Freight Line, Inc. | 49 | 19,878 |
Uber Technologies, Inc. * | 216 | 13,294 |
45,235 | ||
Health Care Equipment & Supplies — 3.1% | ||
Align Technology, Inc. * | 47 | 13,020 |
Cooper Cos., Inc. (The) | 24 | 9,204 |
Dexcom, Inc. * | 198 | 24,610 |
Globus Medical, Inc., Class A * | 249 | 13,260 |
IDEXX Laboratories, Inc. * | 31 | 16,984 |
Inspire Medical Systems, Inc. * (a) | 34 | 6,918 |
ResMed, Inc. | 33 | 5,595 |
Shockwave Medical, Inc. * | 47 | 8,992 |
Zimmer Biomet Holdings, Inc. | 208 | 25,264 |
123,847 | ||
Health Care Providers & Services — 4.3% | ||
Acadia Healthcare Co., Inc. * | 138 | 10,705 |
Cencora, Inc. | 206 | 42,279 |
Centene Corp. * | 171 | 12,706 |
Henry Schein, Inc. * | 449 | 34,007 |
Laboratory Corp. of America Holdings (a) | 109 | 24,699 |
McKesson Corp. | 28 | 12,792 |
Quest Diagnostics, Inc. | 139 | 19,225 |
Universal Health Services, Inc., Class B | 76 | 11,565 |
167,978 | ||
Health Care REITs — 0.3% | ||
Ventas, Inc. | 230 | 11,470 |
Hotel & Resort REITs — 0.3% | ||
Host Hotels & Resorts, Inc. | 584 | 11,367 |
Hotels, Restaurants & Leisure — 3.3% | ||
Chipotle Mexican Grill, Inc. * | 4 | 9,228 |
Darden Restaurants, Inc. | 132 | 21,632 |
Domino's Pizza, Inc. | 44 | 18,273 |
DoorDash, Inc., Class A * | 205 | 20,286 |
Expedia Group, Inc. * | 183 | 27,813 |
Hilton Worldwide Holdings, Inc. | 94 | 17,022 |
Las Vegas Sands Corp. | 136 | 6,698 |
Royal Caribbean Cruises Ltd. * | 61 | 7,906 |
128,858 | ||
Household Durables — 1.1% | ||
Garmin Ltd. | 68 | 8,696 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 21 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Household Durables — continued | ||
Helen of Troy Ltd. * (a) | 39 | 4,699 |
Mohawk Industries, Inc. * | 201 | 20,840 |
Newell Brands, Inc. | 1,249 | 10,842 |
45,077 | ||
Household Products — 0.3% | ||
Energizer Holdings, Inc. | 405 | 12,843 |
Industrial REITs — 0.4% | ||
Rexford Industrial Realty, Inc. | 259 | 14,549 |
Insurance — 4.2% | ||
Arch Capital Group Ltd. * | 476 | 35,356 |
Arthur J Gallagher & Co. (a) | 48 | 10,616 |
Globe Life, Inc. | 149 | 18,141 |
Hartford Financial Services Group, Inc. (The) | 364 | 29,275 |
Loews Corp. | 692 | 48,151 |
WR Berkley Corp. | 340 | 24,054 |
165,593 | ||
Interactive Media & Services — 0.6% | ||
IAC, Inc. * | 441 | 23,110 |
IT Services — 2.3% | ||
Gartner, Inc. * | 42 | 18,730 |
Globant SA * | 57 | 13,635 |
GoDaddy, Inc., Class A * | 270 | 28,667 |
MongoDB, Inc. * (a) | 52 | 21,293 |
Snowflake, Inc., Class A * | 49 | 9,719 |
92,044 | ||
Life Sciences Tools & Services — 2.0% | ||
10X Genomics, Inc., Class A * | 89 | 4,965 |
Agilent Technologies, Inc. | 186 | 25,931 |
IQVIA Holdings, Inc. * | 85 | 19,718 |
Mettler-Toledo International, Inc. * | 10 | 11,949 |
West Pharmaceutical Services, Inc. | 45 | 15,719 |
78,282 | ||
Machinery — 6.5% | ||
Dover Corp. | 189 | 29,012 |
IDEX Corp. | 110 | 23,818 |
Ingersoll Rand, Inc. | 179 | 13,862 |
ITT, Inc. | 484 | 57,760 |
Lincoln Electric Holdings, Inc. (a) | 178 | 38,742 |
Middleby Corp. (The) * | 209 | 30,779 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Machinery — continued | ||
Snap-on, Inc. | 145 | 41,831 |
Timken Co. (The) | 274 | 21,993 |
257,797 | ||
Media — 1.2% | ||
Liberty Media Corp-Liberty SiriusXM * | 800 | 23,008 |
Trade Desk, Inc. (The), Class A * | 315 | 22,697 |
45,705 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 359 | 15,278 |
Multi-Utilities — 2.0% | ||
CMS Energy Corp. | 689 | 40,039 |
WEC Energy Group, Inc. | 457 | 38,424 |
78,463 | ||
Office REITs — 0.4% | ||
Boston Properties, Inc. | 246 | 17,244 |
Oil, Gas & Consumable Fuels — 3.3% | ||
Cheniere Energy, Inc. | 170 | 29,031 |
Coterra Energy, Inc. | 870 | 22,203 |
Diamondback Energy, Inc. | 205 | 31,806 |
EOG Resources, Inc. | 92 | 11,070 |
Williams Cos., Inc. (The) | 1,078 | 37,551 |
131,661 | ||
Personal Care Products — 0.2% | ||
elf Beauty, Inc. * | 58 | 8,335 |
Pharmaceuticals — 0.7% | ||
Jazz Pharmaceuticals plc * | 167 | 20,591 |
Royalty Pharma plc, Class A | 245 | 6,871 |
27,462 | ||
Professional Services — 0.7% | ||
Booz Allen Hamilton Holding Corp. | 144 | 18,418 |
Verisk Analytics, Inc. | 32 | 7,585 |
26,003 | ||
Real Estate Management & Development — 0.5% | ||
CBRE Group, Inc., Class A * | 232 | 21,599 |
Residential REITs — 2.1% | ||
American Homes 4 Rent, Class A | 616 | 22,135 |
AvalonBay Communities, Inc. | 101 | 18,883 |
Essex Property Trust, Inc. | 51 | 12,561 |
22 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Residential REITs — continued | ||
Mid-America Apartment Communities, Inc. | 104 | 14,028 |
Sun Communities, Inc. | 107 | 14,335 |
81,942 | ||
Retail REITs — 1.6% | ||
Brixmor Property Group, Inc. | 431 | 10,028 |
Federal Realty Investment Trust | 116 | 11,942 |
Kimco Realty Corp. | 943 | 20,101 |
Regency Centers Corp. | 286 | 19,152 |
61,223 | ||
Semiconductors & Semiconductor Equipment — 2.4% | ||
Allegro MicroSystems, Inc. (Japan) * | 75 | 2,279 |
Entegris, Inc. | 112 | 13,462 |
Lam Research Corp. | 16 | 12,377 |
Marvell Technology, Inc. | 151 | 9,077 |
Microchip Technology, Inc. | 253 | 22,859 |
Monolithic Power Systems, Inc. | 28 | 17,796 |
ON Semiconductor Corp. * | 95 | 7,909 |
Rambus, Inc. * | 143 | 9,760 |
95,519 | ||
Software — 3.7% | ||
Cadence Design Systems, Inc. * | 16 | 4,355 |
Confluent, Inc., Class A * | 426 | 9,975 |
Crowdstrike Holdings, Inc., Class A * | 131 | 33,340 |
Datadog, Inc., Class A * | 85 | 10,285 |
DocuSign, Inc. * | 136 | 8,106 |
Elastic NV * | 56 | 6,310 |
HubSpot, Inc. * | 33 | 18,829 |
Palo Alto Networks, Inc. * | 49 | 14,345 |
Procore Technologies, Inc. * | 162 | 11,187 |
Synopsys, Inc. * | 18 | 9,482 |
Workday, Inc., Class A * | 46 | 12,786 |
Zoom Video Communications, Inc., Class A * | 97 | 6,994 |
145,994 | ||
Specialized REITs — 1.3% | ||
Rayonier, Inc. | 702 | 23,476 |
Weyerhaeuser Co. | 786 | 27,321 |
50,797 | ||
Specialty Retail — 3.5% | ||
AutoZone, Inc. * | 14 | 35,943 |
Bath & Body Works, Inc. | 496 | 21,407 |
Best Buy Co., Inc. | 225 | 17,601 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Specialty Retail — continued | ||
Burlington Stores, Inc. * | 39 | 7,483 |
Floor & Decor Holdings, Inc., Class A * (a) | 106 | 11,842 |
Ross Stores, Inc. | 234 | 32,440 |
Tractor Supply Co. (a) | 56 | 12,031 |
138,747 | ||
Textiles, Apparel & Luxury Goods — 1.9% | ||
Carter's, Inc. (a) | 311 | 23,286 |
Lululemon Athletica, Inc. * | 24 | 12,315 |
Ralph Lauren Corp. | 145 | 20,911 |
Tapestry, Inc. | 456 | 16,766 |
73,278 | ||
Trading Companies & Distributors — 0.2% | ||
Air Lease Corp., Class A | 217 | 9,121 |
Total Common Stocks (Cost $2,791,292) | 3,854,309 | |
Short-Term Investments — 4.1% | ||
Investment Companies — 2.3% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (b) (c) (Cost $93,016) | 92,994 | 93,068 |
Investment of Cash Collateral from Securities Loaned — 1.8% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (b) (c) | 62,772 | 62,797 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (b) (c) | 8,441 | 8,441 |
Total Investment of Cash Collateral from Securities Loaned (Cost $71,238) | 71,238 | |
Total Short-Term Investments (Cost $164,254) | 164,306 | |
Total Investments — 101.6% (Cost $2,955,546) | 4,018,615 | |
Liabilities in Excess of Other Assets — (1.6)% | (64,888 ) | |
NET ASSETS — 100.0% | 3,953,727 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 23 |
(a) | The security or a portion of this security is on loan at December 31, 2023. The total value of securities on loan at December 31, 2023 is $69,077. |
(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 December 31, 2023. |
24 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 98.8% | ||
Aerospace & Defense — 1.2% | ||
HEICO Corp., Class A | 906 | 129,034 |
Automobiles — 0.5% | ||
Thor Industries, Inc. (a) | 447 | 52,845 |
Beverages — 0.5% | ||
Constellation Brands, Inc., Class A | 219 | 52,850 |
Biotechnology — 5.3% | ||
Alnylam Pharmaceuticals, Inc. * | 501 | 95,929 |
Amicus Therapeutics, Inc. * (a) | 3,025 | 42,921 |
Apellis Pharmaceuticals, Inc. * (a) | 693 | 41,494 |
Exact Sciences Corp. * | 1,407 | 104,126 |
Exelixis, Inc. * | 3,152 | 75,606 |
Natera, Inc. * (a) | 1,608 | 100,716 |
Neurocrine Biosciences, Inc. * | 656 | 86,464 |
547,256 | ||
Building Products — 2.6% | ||
Simpson Manufacturing Co., Inc. | 300 | 59,345 |
Trane Technologies plc | 846 | 206,293 |
265,638 | ||
Capital Markets — 8.6% | ||
Ares Management Corp., Class A | 1,137 | 135,176 |
FactSet Research Systems, Inc. (a) | 244 | 116,307 |
Interactive Brokers Group, Inc., Class A | 617 | 51,161 |
KKR & Co., Inc. | 1,618 | 134,063 |
LPL Financial Holdings, Inc. | 359 | 81,627 |
Moody's Corp. | 223 | 87,028 |
MSCI, Inc. | 221 | 125,341 |
Raymond James Financial, Inc. | 667 | 74,422 |
Tradeweb Markets, Inc., Class A | 985 | 89,528 |
894,653 | ||
Commercial Services & Supplies — 3.7% | ||
Cintas Corp. | 201 | 121,337 |
Copart, Inc. * | 4,127 | 202,224 |
MSA Safety, Inc. | 373 | 62,991 |
386,552 | ||
Communications Equipment — 0.6% | ||
Arista Networks, Inc. * | 257 | 60,580 |
Construction & Engineering — 2.2% | ||
AECOM | 868 | 80,246 |
Quanta Services, Inc. | 696 | 150,146 |
230,392 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Distributors — 1.0% | ||
Pool Corp. (a) | 256 | 102,141 |
Diversified Consumer Services — 0.7% | ||
Bright Horizons Family Solutions, Inc. * (a) | 829 | 78,153 |
Electrical Equipment — 1.8% | ||
AMETEK, Inc. | 674 | 111,145 |
Hubbell, Inc., Class B | 218 | 71,705 |
182,850 | ||
Electronic Equipment, Instruments & Components — 3.6% | ||
Amphenol Corp., Class A | 1,326 | 131,393 |
Jabil, Inc. (a) | 843 | 107,435 |
Keysight Technologies, Inc. * | 392 | 62,405 |
Teledyne Technologies, Inc. * | 156 | 69,457 |
370,690 | ||
Energy Equipment & Services — 0.9% | ||
TechnipFMC plc (United Kingdom) (a) | 4,472 | 90,069 |
Entertainment — 1.2% | ||
Take-Two Interactive Software, Inc. * | 785 | 126,376 |
Financial Services — 1.5% | ||
Global Payments, Inc. | 334 | 42,397 |
Remitly Global, Inc. * | 3,159 | 61,347 |
Rocket Cos., Inc., Class A * (a) | 3,589 | 51,966 |
155,710 | ||
Ground Transportation — 3.3% | ||
JB Hunt Transport Services, Inc. | 454 | 90,683 |
Old Dominion Freight Line, Inc. | 369 | 149,420 |
Uber Technologies, Inc. * | 1,623 | 99,929 |
340,032 | ||
Health Care Equipment & Supplies — 6.2% | ||
Align Technology, Inc. * | 357 | 97,869 |
Cooper Cos., Inc. (The) | 183 | 69,182 |
Dexcom, Inc. * | 1,491 | 184,995 |
IDEXX Laboratories, Inc. * | 230 | 127,669 |
Inspire Medical Systems, Inc. * | 256 | 52,003 |
ResMed, Inc. | 244 | 42,054 |
Shockwave Medical, Inc. * | 355 | 67,593 |
641,365 | ||
Health Care Providers & Services — 2.6% | ||
Acadia Healthcare Co., Inc. * | 1,035 | 80,467 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 25 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Health Care Providers & Services — continued | ||
Centene Corp. * | 1,287 | 95,510 |
McKesson Corp. | 208 | 96,155 |
272,132 | ||
Hotels, Restaurants & Leisure — 5.8% | ||
Chipotle Mexican Grill, Inc. * | 30 | 69,366 |
Domino's Pizza, Inc. | 333 | 137,359 |
DoorDash, Inc., Class A * | 1,542 | 152,487 |
Hilton Worldwide Holdings, Inc. | 703 | 127,957 |
Las Vegas Sands Corp. | 1,023 | 50,346 |
Royal Caribbean Cruises Ltd. * (a) | 459 | 59,429 |
596,944 | ||
Household Durables — 1.0% | ||
Garmin Ltd. | 509 | 65,368 |
Helen of Troy Ltd. * (a) | 292 | 35,323 |
100,691 | ||
Insurance — 0.8% | ||
Arthur J Gallagher & Co. (a) | 355 | 79,798 |
IT Services — 4.6% | ||
Gartner, Inc. * | 312 | 140,798 |
Globant SA * | 431 | 102,493 |
MongoDB, Inc. * (a) | 391 | 160,059 |
Snowflake, Inc., Class A * | 367 | 73,059 |
476,409 | ||
Life Sciences Tools & Services — 5.7% | ||
10X Genomics, Inc., Class A * | 667 | 37,322 |
Agilent Technologies, Inc. | 1,402 | 194,920 |
IQVIA Holdings, Inc. * | 641 | 148,217 |
Mettler-Toledo International, Inc. * (a) | 74 | 89,820 |
West Pharmaceutical Services, Inc. | 335 | 118,162 |
588,441 | ||
Machinery — 2.3% | ||
Ingersoll Rand, Inc. | 1,347 | 104,201 |
ITT, Inc. | 1,084 | 129,312 |
233,513 | ||
Media — 1.6% | ||
Trade Desk, Inc. (The), Class A * | 2,371 | 170,611 |
Metals & Mining — 0.3% | ||
Freeport-McMoRan, Inc. | 866 | 36,866 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Oil, Gas & Consumable Fuels — 2.9% | ||
Cheniere Energy, Inc. | 1,278 | 218,221 |
EOG Resources, Inc. | 688 | 83,215 |
301,436 | ||
Personal Care Products — 0.6% | ||
elf Beauty, Inc. * | 434 | 62,656 |
Pharmaceuticals — 0.5% | ||
Royalty Pharma plc, Class A | 1,839 | 51,652 |
Professional Services — 1.9% | ||
Booz Allen Hamilton Holding Corp. | 1,082 | 138,445 |
Verisk Analytics, Inc. | 239 | 57,017 |
195,462 | ||
Semiconductors & Semiconductor Equipment — 5.3% | ||
Allegro MicroSystems, Inc. (Japan) * | 566 | 17,131 |
Entegris, Inc. | 844 | 101,191 |
Lam Research Corp. | 119 | 93,037 |
Marvell Technology, Inc. | 1,131 | 68,229 |
Monolithic Power Systems, Inc. (a) | 212 | 133,773 |
ON Semiconductor Corp. * (a) | 712 | 59,454 |
Rambus, Inc. * | 1,075 | 73,363 |
546,178 | ||
Software — 10.7% | ||
Cadence Design Systems, Inc. * | 120 | 32,739 |
Confluent, Inc., Class A * | 3,204 | 74,978 |
Coreweave, Inc. ‡ * (b) | 29 | 8,904 |
Crowdstrike Holdings, Inc., Class A * | 981 | 250,613 |
Datadog, Inc., Class A * (a) | 637 | 77,313 |
DocuSign, Inc. * | 1,025 | 60,932 |
Elastic NV * | 421 | 47,431 |
HubSpot, Inc. * | 244 | 141,537 |
Palo Alto Networks, Inc. * | 366 | 107,829 |
Procore Technologies, Inc. * | 1,215 | 84,091 |
Synopsys, Inc. * | 138 | 71,274 |
Workday, Inc., Class A * | 348 | 96,113 |
Zoom Video Communications, Inc., Class A * | 731 | 52,570 |
1,106,324 | ||
Specialty Retail — 5.2% | ||
AutoZone, Inc. * | 22 | 56,426 |
Burlington Stores, Inc. * | 289 | 56,252 |
Floor & Decor Holdings, Inc., Class A * (a) | 798 | 89,017 |
26 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Specialty Retail — continued | ||
Ross Stores, Inc. | 1,762 | 243,848 |
Tractor Supply Co. (a) | 421 | 90,437 |
535,980 | ||
Textiles, Apparel & Luxury Goods — 0.9% | ||
Lululemon Athletica, Inc. * | 181 | 92,571 |
Trading Companies & Distributors — 0.7% | ||
Air Lease Corp., Class A | 1,635 | 68,565 |
Total Common Stocks (Cost $7,510,938) | 10,223,415 | |
Short-Term Investments — 4.3% | ||
Investment Companies — 1.3% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (c) (d) (Cost $139,677) | 139,631 | 139,743 |
Investment of Cash Collateral from Securities Loaned — 3.0% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (c) (d) | 276,863 | 276,974 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (c) (d) | 32,528 | 32,528 |
Total Investment of Cash Collateral from Securities Loaned (Cost $309,473) | 309,502 | |
Total Short-Term Investments (Cost $449,150) | 449,245 | |
Total Investments — 103.1% (Cost $7,960,088) | 10,672,660 | |
Liabilities in Excess of Other Assets — (3.1)% | (323,141 ) | |
NET ASSETS — 100.0% | 10,349,519 |
Percentages indicated are based on net assets. |
‡ | Value determined using significant unobservable inputs. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at December 31, 2023. The total value of securities on loan at December 31, 2023 is $299,746. |
(b) | Restricted security. See Note 2.B. |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(d) | The rate shown is the current yield as of December 31, 2023. |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 27 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 98.8% | ||
Banks — 6.7% | ||
Fifth Third Bancorp | 4,836 | 166,789 |
First Citizens BancShares, Inc., Class A | 105 | 149,155 |
Huntington Bancshares, Inc. | 13,894 | 176,730 |
M&T Bank Corp. | 1,489 | 204,139 |
Regions Financial Corp. | 9,452 | 183,170 |
879,983 | ||
Beverages — 1.6% | ||
Constellation Brands, Inc., Class A | 397 | 95,987 |
Keurig Dr Pepper, Inc. | 3,348 | 111,562 |
207,549 | ||
Building Products — 2.6% | ||
Carlisle Cos., Inc. | 497 | 155,248 |
Fortune Brands Innovations, Inc. | 2,378 | 181,074 |
336,322 | ||
Capital Markets — 5.5% | ||
Ameriprise Financial, Inc. | 682 | 258,941 |
Northern Trust Corp. | 1,165 | 98,357 |
Raymond James Financial, Inc. | 1,718 | 191,519 |
State Street Corp. | 2,187 | 169,392 |
718,209 | ||
Chemicals — 1.8% | ||
Celanese Corp. (a) | 356 | 55,216 |
RPM International, Inc. | 1,629 | 181,886 |
237,102 | ||
Communications Equipment — 0.8% | ||
Motorola Solutions, Inc. | 321 | 100,502 |
Construction Materials — 1.6% | ||
Martin Marietta Materials, Inc. | 424 | 211,569 |
Consumer Finance — 0.8% | ||
Discover Financial Services | 904 | 101,656 |
Consumer Staples Distribution & Retail — 1.8% | ||
Kroger Co. (The) | 2,079 | 95,001 |
US Foods Holding Corp. * | 3,164 | 143,682 |
238,683 | ||
Containers & Packaging — 3.0% | ||
Ball Corp. | 1,592 | 91,565 |
Packaging Corp. of America | 1,005 | 163,751 |
Silgan Holdings, Inc. | 3,049 | 137,952 |
393,268 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Distributors — 1.9% | ||
Genuine Parts Co. | 640 | 88,576 |
LKQ Corp. | 3,297 | 157,584 |
246,160 | ||
Diversified REITs — 0.7% | ||
WP Carey, Inc. (a) | 1,423 | 92,240 |
Electric Utilities — 3.5% | ||
Edison International | 1,543 | 110,306 |
PG&E Corp. | 10,872 | 196,027 |
Xcel Energy, Inc. | 2,555 | 158,194 |
464,527 | ||
Electrical Equipment — 4.2% | ||
Acuity Brands, Inc. | 712 | 145,934 |
AMETEK, Inc. | 1,186 | 195,533 |
Hubbell, Inc., Class B | 656 | 215,693 |
557,160 | ||
Electronic Equipment, Instruments & Components — 4.6% | ||
Amphenol Corp., Class A | 1,414 | 140,130 |
CDW Corp. | 564 | 128,178 |
Jabil, Inc. | 328 | 41,854 |
Teledyne Technologies, Inc. * | 415 | 185,029 |
Zebra Technologies Corp., Class A * | 421 | 115,221 |
610,412 | ||
Entertainment — 1.1% | ||
Liberty Media Corp-Liberty Live, Class C * | 1,222 | 45,686 |
Take-Two Interactive Software, Inc. * | 633 | 101,833 |
147,519 | ||
Financial Services — 2.0% | ||
Fidelity National Information Services, Inc. | 855 | 51,339 |
MGIC Investment Corp. | 6,710 | 129,438 |
Voya Financial, Inc. | 1,211 | 88,386 |
269,163 | ||
Food Products — 0.7% | ||
Post Holdings, Inc. * (a) | 986 | 86,807 |
Gas Utilities — 0.8% | ||
National Fuel Gas Co. | 2,183 | 109,519 |
Health Care Equipment & Supplies — 1.5% | ||
Globus Medical, Inc., Class A * | 1,298 | 69,168 |
Zimmer Biomet Holdings, Inc. | 1,083 | 131,782 |
200,950 |
28 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Health Care Providers & Services — 5.2% | ||
Cencora, Inc. (a) | 1,074 | 220,534 |
Henry Schein, Inc. * | 2,343 | 177,388 |
Laboratory Corp. of America Holdings (a) | 567 | 128,837 |
Quest Diagnostics, Inc. | 727 | 100,284 |
Universal Health Services, Inc., Class B | 396 | 60,328 |
687,371 | ||
Health Care REITs — 0.5% | ||
Ventas, Inc. | 1,200 | 59,829 |
Hotel & Resort REITs — 0.4% | ||
Host Hotels & Resorts, Inc. | 3,045 | 59,293 |
Hotels, Restaurants & Leisure — 2.0% | ||
Darden Restaurants, Inc. | 687 | 112,839 |
Expedia Group, Inc. * | 956 | 145,077 |
257,916 | ||
Household Durables — 1.3% | ||
Mohawk Industries, Inc. * | 1,050 | 108,706 |
Newell Brands, Inc. | 6,515 | 56,551 |
165,257 | ||
Household Products — 0.5% | ||
Energizer Holdings, Inc. | 2,115 | 66,993 |
Industrial REITs — 0.6% | ||
Rexford Industrial Realty, Inc. (a) | 1,353 | 75,891 |
Insurance — 6.1% | ||
Arch Capital Group Ltd. * | 2,483 | 184,426 |
Globe Life, Inc. | 778 | 94,631 |
Hartford Financial Services Group, Inc. (The) | 1,900 | 152,703 |
Loews Corp. | 3,609 | 251,164 |
WR Berkley Corp. | 1,774 | 125,469 |
808,393 | ||
Interactive Media & Services — 0.9% | ||
IAC, Inc. * | 2,301 | 120,547 |
IT Services — 1.1% | ||
GoDaddy, Inc., Class A * | 1,409 | 149,531 |
Machinery — 9.0% | ||
Dover Corp. | 984 | 151,333 |
IDEX Corp. | 572 | 124,239 |
ITT, Inc. | 1,773 | 211,589 |
Lincoln Electric Holdings, Inc. (a) | 929 | 202,088 |
Middleby Corp. (The) * | 1,091 | 160,552 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Machinery — continued | ||
Snap-on, Inc. | 756 | 218,202 |
Timken Co. (The) | 1,431 | 114,717 |
1,182,720 | ||
Media — 0.9% | ||
Liberty Media Corp-Liberty SiriusXM * | 4,170 | 120,016 |
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 1,271 | 54,110 |
Multi-Utilities — 3.1% | ||
CMS Energy Corp. | 3,597 | 208,852 |
WEC Energy Group, Inc. | 2,381 | 200,430 |
409,282 | ||
Office REITs — 0.7% | ||
Boston Properties, Inc. | 1,282 | 89,948 |
Oil, Gas & Consumable Fuels — 3.6% | ||
Coterra Energy, Inc. | 4,538 | 115,814 |
Diamondback Energy, Inc. (a) | 1,070 | 165,906 |
Williams Cos., Inc. (The) | 5,624 | 195,876 |
477,596 | ||
Pharmaceuticals — 0.8% | ||
Jazz Pharmaceuticals plc * | 873 | 107,404 |
Real Estate Management & Development — 0.9% | ||
CBRE Group, Inc., Class A * | 1,210 | 112,663 |
Residential REITs — 3.2% | ||
American Homes 4 Rent, Class A | 3,211 | 115,462 |
AvalonBay Communities, Inc. | 526 | 98,498 |
Essex Property Trust, Inc. | 264 | 65,520 |
Mid-America Apartment Communities, Inc. | 544 | 73,171 |
Sun Communities, Inc. | 560 | 74,777 |
427,428 | ||
Retail REITs — 2.4% | ||
Brixmor Property Group, Inc. | 2,253 | 52,437 |
Federal Realty Investment Trust | 605 | 62,293 |
Kimco Realty Corp. (a) | 4,920 | 104,848 |
Regency Centers Corp. | 1,491 | 99,904 |
319,482 | ||
Semiconductors & Semiconductor Equipment — 0.9% | ||
Microchip Technology, Inc. | 1,322 | 119,240 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 29 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Specialized REITs — 2.0% | ||
Rayonier, Inc. | 3,665 | 122,457 |
Weyerhaeuser Co. | 4,099 | 142,513 |
264,970 | ||
Specialty Retail — 2.7% | ||
AutoZone, Inc. * | 57 | 148,326 |
Bath & Body Works, Inc. | 2,587 | 111,664 |
Best Buy Co., Inc. | 1,173 | 91,808 |
351,798 | ||
Textiles, Apparel & Luxury Goods — 2.4% | ||
Carter's, Inc. (a) | 1,622 | 121,467 |
Ralph Lauren Corp. (a) | 756 | 109,076 |
Tapestry, Inc. | 2,376 | 87,453 |
317,996 | ||
Total Common Stocks (Cost $7,863,795) | 13,014,974 | |
Short-Term Investments — 2.0% | ||
Investment Companies — 1.3% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (b) (c) (Cost $168,263) | 168,158 | 168,293 |
Investment of Cash Collateral from Securities Loaned — 0.7% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (b) (c) | 84,977 | 85,011 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Investment of Cash Collateral from Securities Loaned — continued | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (b) (c) | 9,620 | 9,620 |
Total Investment of Cash Collateral from Securities Loaned (Cost $94,631) | 94,631 | |
Total Short-Term Investments (Cost $262,894) | 262,924 | |
Total Investments — 100.8% (Cost $8,126,689) | 13,277,898 | |
Liabilities in Excess of Other Assets — (0.8)% | (103,079 ) | |
NET ASSETS — 100.0% | 13,174,819 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at December 31, 2023. The total value of securities on loan at December 31, 2023 is $92,233. |
(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 December 31, 2023. |
30 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 99.2% | ||
Aerospace & Defense — 2.2% | ||
General Dynamics Corp. | 295 | 76,706 |
Northrop Grumman Corp. | 89 | 41,571 |
RTX Corp. | 935 | 78,685 |
196,962 | ||
Air Freight & Logistics — 0.9% | ||
FedEx Corp. | 165 | 41,816 |
United Parcel Service, Inc., Class B | 270 | 42,342 |
84,158 | ||
Banks — 10.2% | ||
Bank of America Corp. | 5,438 | 183,101 |
Citigroup, Inc. | 491 | 25,274 |
Citizens Financial Group, Inc. | 1,966 | 65,137 |
First Citizens BancShares, Inc., Class A | 48 | 67,688 |
M&T Bank Corp. | 1,257 | 172,325 |
PNC Financial Services Group, Inc. (The) | 597 | 92,458 |
Regions Financial Corp. | 4,558 | 88,334 |
Wells Fargo & Co. | 4,302 | 211,756 |
906,073 | ||
Beverages — 1.0% | ||
Keurig Dr Pepper, Inc. | 2,688 | 89,557 |
Biotechnology — 3.1% | ||
AbbVie, Inc. | 1,017 | 157,556 |
Regeneron Pharmaceuticals, Inc. * | 83 | 73,337 |
Vertex Pharmaceuticals, Inc. * | 117 | 47,566 |
278,459 | ||
Building Products — 1.5% | ||
Carlisle Cos., Inc. | 212 | 66,114 |
Fortune Brands Innovations, Inc. | 907 | 69,082 |
135,196 | ||
Capital Markets — 2.9% | ||
Charles Schwab Corp. (The) | 1,035 | 71,187 |
Morgan Stanley | 658 | 61,389 |
Northern Trust Corp. | 829 | 69,956 |
State Street Corp. | 698 | 54,090 |
256,622 | ||
Chemicals — 0.7% | ||
Axalta Coating Systems Ltd. * | 1,705 | 57,909 |
Communications Equipment — 0.4% | ||
Cisco Systems, Inc. | 751 | 37,956 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Construction Materials — 1.7% | ||
Martin Marietta Materials, Inc. | 256 | 127,809 |
Vulcan Materials Co. | 83 | 18,910 |
146,719 | ||
Consumer Finance — 3.4% | ||
American Express Co. | 394 | 73,756 |
Capital One Financial Corp. | 1,728 | 226,587 |
300,343 | ||
Consumer Staples Distribution & Retail — 0.6% | ||
Albertsons Cos., Inc., Class A | 2,292 | 52,704 |
Containers & Packaging — 2.3% | ||
Graphic Packaging Holding Co. | 923 | 22,747 |
Packaging Corp. of America | 610 | 99,408 |
Silgan Holdings, Inc. | 781 | 35,367 |
WestRock Co. | 1,035 | 42,960 |
200,482 | ||
Diversified Telecommunication Services — 0.5% | ||
Verizon Communications, Inc. | 1,248 | 47,038 |
Electric Utilities — 3.1% | ||
Edison International | 690 | 49,350 |
Entergy Corp. | 257 | 25,965 |
NextEra Energy, Inc. | 1,180 | 71,684 |
PG&E Corp. | 4,056 | 73,137 |
Xcel Energy, Inc. | 912 | 56,434 |
276,570 | ||
Electrical Equipment — 0.6% | ||
Eaton Corp. plc | 237 | 57,026 |
Electronic Equipment, Instruments & Components — 1.0% | ||
CDW Corp. | 150 | 34,098 |
TD SYNNEX Corp. | 520 | 55,971 |
90,069 | ||
Entertainment — 0.3% | ||
Liberty Media Corp-Liberty Live, Class C * | 716 | 26,769 |
Financial Services — 4.2% | ||
Berkshire Hathaway, Inc., Class B * | 753 | 268,636 |
FleetCor Technologies, Inc. * | 172 | 48,439 |
MGIC Investment Corp. | 2,660 | 51,310 |
368,385 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 31 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Food Products — 1.5% | ||
Kraft Heinz Co. (The) | 1,890 | 69,911 |
Post Holdings, Inc. * | 719 | 63,302 |
133,213 | ||
Ground Transportation — 1.0% | ||
Union Pacific Corp. | 367 | 90,241 |
Health Care Equipment & Supplies — 1.0% | ||
Medtronic plc | 493 | 40,627 |
Zimmer Biomet Holdings, Inc. | 385 | 46,830 |
87,457 | ||
Health Care Providers & Services — 6.2% | ||
Cencora, Inc. | 612 | 125,651 |
Cigna Group (The) | 161 | 48,301 |
CVS Health Corp. | 751 | 59,331 |
HCA Healthcare, Inc. | 334 | 90,256 |
Henry Schein, Inc. * | 804 | 60,886 |
Laboratory Corp. of America Holdings | 312 | 70,801 |
Quest Diagnostics, Inc. | 268 | 37,007 |
UnitedHealth Group, Inc. | 102 | 53,929 |
546,162 | ||
Health Care REITs — 0.2% | ||
Welltower, Inc. | 205 | 18,467 |
Hotel & Resort REITs — 0.4% | ||
Apple Hospitality REIT, Inc. (a) | 2,242 | 37,243 |
Hotels, Restaurants & Leisure — 1.4% | ||
Booking Holdings, Inc. * | 18 | 63,495 |
Texas Roadhouse, Inc., Class A | 518 | 63,266 |
126,761 | ||
Household Durables — 1.2% | ||
Mohawk Industries, Inc. * | 674 | 69,738 |
Newell Brands, Inc. (a) | 3,982 | 34,566 |
104,304 | ||
Household Products — 1.5% | ||
Energizer Holdings, Inc. | 1,152 | 36,510 |
Procter & Gamble Co. (The) | 638 | 93,483 |
129,993 | ||
Industrial Conglomerates — 0.7% | ||
Honeywell International, Inc. | 289 | 60,632 |
Industrial REITs — 0.2% | ||
EastGroup Properties, Inc. | 100 | 18,409 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Insurance — 6.0% | ||
Chubb Ltd. | 279 | 63,132 |
CNA Financial Corp. | 856 | 36,209 |
Fairfax Financial Holdings Ltd. (Canada) | 63 | 58,215 |
Loews Corp. | 2,247 | 156,375 |
Progressive Corp. (The) | 324 | 51,543 |
Travelers Cos., Inc. (The) | 621 | 118,289 |
WR Berkley Corp. | 701 | 49,582 |
533,345 | ||
Interactive Media & Services — 1.5% | ||
Alphabet, Inc., Class C * | 228 | 32,061 |
IAC, Inc. * | 1,105 | 57,875 |
Meta Platforms, Inc., Class A * | 116 | 41,095 |
131,031 | ||
IT Services — 0.5% | ||
International Business Machines Corp. | 289 | 47,266 |
Life Sciences Tools & Services — 0.2% | ||
Fortrea Holdings, Inc. * (a) | 511 | 17,841 |
Machinery — 1.9% | ||
Dover Corp. | 506 | 77,737 |
Middleby Corp. (The) * | 320 | 47,154 |
Timken Co. (The) | 501 | 40,131 |
165,022 | ||
Media — 1.9% | ||
Liberty Broadband Corp., Class C * | 593 | 47,750 |
Liberty Media Corp-Liberty SiriusXM * | 2,516 | 72,413 |
Nexstar Media Group, Inc., Class A (a) | 283 | 44,347 |
164,510 | ||
Multi-Utilities — 0.6% | ||
Public Service Enterprise Group, Inc. | 833 | 50,956 |
Oil, Gas & Consumable Fuels — 8.3% | ||
Chevron Corp. | 978 | 145,819 |
ConocoPhillips | 1,457 | 169,145 |
Coterra Energy, Inc. | 1,503 | 38,357 |
EOG Resources, Inc. | 816 | 98,707 |
Kinder Morgan, Inc. | 5,249 | 92,601 |
Phillips 66 | 744 | 99,040 |
Williams Cos., Inc. (The) | 2,654 | 92,442 |
736,111 | ||
Personal Care Products — 0.6% | ||
Kenvue, Inc. | 2,567 | 55,277 |
32 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Pharmaceuticals — 3.1% | ||
Bristol-Myers Squibb Co. | 2,170 | 111,353 |
Johnson & Johnson | 636 | 99,621 |
Merck & Co., Inc. | 555 | 60,500 |
271,474 | ||
Real Estate Management & Development — 0.7% | ||
CBRE Group, Inc., Class A * | 647 | 60,191 |
Residential REITs — 1.8% | ||
American Homes 4 Rent, Class A | 1,770 | 63,648 |
Mid-America Apartment Communities, Inc. | 690 | 92,744 |
156,392 | ||
Retail REITs — 2.8% | ||
Brixmor Property Group, Inc. | 2,726 | 63,442 |
Federal Realty Investment Trust | 517 | 53,246 |
Kimco Realty Corp. | 4,389 | 93,539 |
Regency Centers Corp. | 563 | 37,714 |
247,941 | ||
Semiconductors & Semiconductor Equipment — 2.4% | ||
Analog Devices, Inc. | 212 | 42,075 |
NXP Semiconductors NV (China) | 316 | 72,625 |
Texas Instruments, Inc. | 566 | 96,525 |
211,225 | ||
Specialized REITs — 3.7% | ||
Lamar Advertising Co., Class A | 586 | 62,312 |
Public Storage | 323 | 98,545 |
Rayonier, Inc. | 1,638 | 54,731 |
Weyerhaeuser Co. | 3,284 | 114,161 |
329,749 | ||
Specialty Retail — 4.8% | ||
AutoZone, Inc. * | 25 | 65,038 |
Bath & Body Works, Inc. | 1,533 | 66,173 |
Best Buy Co., Inc. | 500 | 39,099 |
Dick's Sporting Goods, Inc. (a) | 511 | 75,092 |
Home Depot, Inc. (The) | 169 | 58,671 |
Lowe's Cos., Inc. | 338 | 75,222 |
Murphy USA, Inc. | 132 | 47,108 |
426,403 | ||
Textiles, Apparel & Luxury Goods — 1.2% | ||
Carter's, Inc. (a) | 356 | 26,668 |
INVESTMENTS | SHARES (000) | VALUE ($000) |
Textiles, Apparel & Luxury Goods — continued | ||
Columbia Sportswear Co. (a) | 484 | 38,498 |
Ralph Lauren Corp. | 285 | 41,097 |
106,263 | ||
Tobacco — 0.8% | ||
Philip Morris International, Inc. | 772 | 72,592 |
Wireless Telecommunication Services — 0.5% | ||
T-Mobile US, Inc. | 260 | 41,654 |
Total Common Stocks (Cost $5,753,042) | 8,787,122 | |
Short-Term Investments — 1.7% | ||
Investment Companies — 1.0% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (b) (c) (Cost $86,191) | 86,168 | 86,237 |
Investment of Cash Collateral from Securities Loaned — 0.7% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (b) (c) | 57,989 | 58,012 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (b) (c) | 7,571 | 7,571 |
Total Investment of Cash Collateral from Securities Loaned (Cost $65,583) | 65,583 | |
Total Short-Term Investments (Cost $151,774) | 151,820 | |
Total Investments — 100.9% (Cost $5,904,816) | 8,938,942 | |
Liabilities in Excess of Other Assets — (0.9)% | (82,724 ) | |
NET ASSETS — 100.0% | 8,856,218 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at December 31, 2023. The total value of securities on loan at December 31, 2023 is $63,676. |
(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 December 31, 2023. |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 33 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | JPMorgan Mid Cap Growth Fund | |
ASSETS: | |||
Investments in non-affiliates, at value | $16,984,084 | $3,854,309 | $10,223,415 |
Investments in affiliates, at value | 257,169 | 93,068 | 139,743 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 26,324 | 71,238 | 309,502 |
Cash | 1,228 | 377 | 454 |
Receivables: | |||
Fund shares sold | 22,688 | 7,317 | 20,004 |
Dividends from non-affiliates | 1,161 | 5,559 | 2,162 |
Dividends from affiliates | 39 | 14 | 21 |
Securities lending income (See Note 2.C.) | 5 | 8 | 49 |
Other assets | — | 23 | — |
Total Assets | 17,292,698 | 4,031,913 | 10,695,350 |
LIABILITIES: | |||
Payables: | |||
Investment securities purchased | — | 212 | 1,599 |
Collateral received on securities loaned (See Note 2.C.) | 26,324 | 71,238 | 309,502 |
Fund shares redeemed | 16,971 | 4,169 | 27,810 |
Accrued liabilities: | |||
Investment advisory fees | 7,152 | 1,887 | 5,311 |
Administration fees | 467 | 97 | 483 |
Distribution fees | 1,155 | 157 | 338 |
Service fees | 1,813 | 363 | 663 |
Custodian and accounting fees | 109 | 32 | 60 |
Trustees’ and Chief Compliance Officer’s fees | 1 | 1 | 1 |
Other | 185 | 30 | 64 |
Total Liabilities | 54,177 | 78,186 | 345,831 |
Net Assets | $17,238,521 | $3,953,727 | $10,349,519 |
34 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | JPMorgan Mid Cap Growth Fund | |
NET ASSETS: | |||
Paid-in-Capital | $9,119,434 | $2,943,536 | $7,854,596 |
Total distributable earnings (loss) | 8,119,087 | 1,010,191 | 2,494,923 |
Total Net Assets | $17,238,521 | $3,953,727 | $10,349,519 |
Net Assets: | |||
Class A | $3,358,270 | $708,277 | $1,308,825 |
Class C | 707,603 | 15,319 | 53,732 |
Class I | 4,970,471 | 1,034,521 | 2,541,338 |
Class R2 | 9,054 | 1,857 | 50,656 |
Class R3 | 27,563 | — | 54,698 |
Class R4 | 30,166 | — | 34,729 |
Class R5 | 104,699 | 11,080 | 533,219 |
Class R6 | 8,030,695 | 2,182,673 | 5,772,322 |
Total | $17,238,521 | $3,953,727 | $10,349,519 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | |||
Class A | 109,592 | 12,477 | 34,952 |
Class C | 29,334 | 290 | 2,163 |
Class I | 152,956 | 17,806 | 54,508 |
Class R2 | 302 | 33 | 1,220 |
Class R3 | 901 | — | 1,207 |
Class R4 | 928 | — | 748 |
Class R5 | 3,109 | 190 | 11,174 |
Class R6 | 235,315 | 37,505 | 119,823 |
Net Asset Value (a): | |||
Class A — Redemption price per share | $30.64 | $56.77 | $37.45 |
Class C — Offering price per share (b) | 24.12 | 52.82 | 24.83 |
Class I — Offering and redemption price per share | 32.50 | 58.10 | 46.62 |
Class R2 — Offering and redemption price per share | 30.00 | 55.64 | 41.54 |
Class R3 — Offering and redemption price per share | 30.58 | — | 45.35 |
Class R4 — Offering and redemption price per share | 32.51 | — | 46.38 |
Class R5 — Offering and redemption price per share | 33.68 | 58.27 | 47.72 |
Class R6 — Offering and redemption price per share | 34.13 | 58.20 | 48.17 |
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)] | $32.34 | $59.92 | $39.53 |
Cost of investments in non-affiliates | $8,782,642 | $2,791,292 | $7,510,938 |
Cost of investments in affiliates | 257,039 | 93,016 | 139,677 |
Investment securities on loan, at value (See Note 2.C.) | 25,418 | 69,077 | 299,746 |
Cost of investment of cash collateral (See Note 2.C.) | 26,324 | 71,238 | 309,473 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 35 |
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
ASSETS: | ||
Investments in non-affiliates, at value | $13,014,974 | $8,787,122 |
Investments in affiliates, at value | 168,293 | 86,237 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 94,631 | 65,583 |
Cash | 735 | 808 |
Receivables: | ||
Fund shares sold | 57,589 | 5,408 |
Dividends from non-affiliates | 28,238 | 8,981 |
Dividends from affiliates | 25 | 13 |
Securities lending income (See Note 2.C.) | 17 | 13 |
Total Assets | 13,364,502 | 8,954,165 |
LIABILITIES: | ||
Payables: | ||
Investment securities purchased | — | 1,201 |
Collateral received on securities loaned (See Note 2.C.) | 94,631 | 65,583 |
Fund shares redeemed | 86,140 | 25,835 |
Accrued liabilities: | ||
Investment advisory fees | 6,578 | 3,671 |
Administration fees | 387 | 290 |
Distribution fees | 314 | 389 |
Service fees | 1,121 | 736 |
Custodian and accounting fees | 126 | 85 |
Trustees’ and Chief Compliance Officer’s fees | — (a) | — (a) |
Other | 386 | 157 |
Total Liabilities | 189,683 | 97,947 |
Net Assets | $13,174,819 | $8,856,218 |
36 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
NET ASSETS: | ||
Paid-in-Capital | $7,943,057 | $5,814,557 |
Total distributable earnings (loss) | 5,231,762 | 3,041,661 |
Total Net Assets | $13,174,819 | $8,856,218 |
Net Assets: | ||
Class A | $1,175,231 | $1,282,100 |
Class C | 41,411 | 187,094 |
Class I | 1,798,473 | 1,692,685 |
Class L | 5,751,654 | 1,286,725 |
Class R2 | 62,394 | 407 |
Class R3 | 72,699 | 2,633 |
Class R4 | 30,337 | 243 |
Class R5 | 50,279 | 19,801 |
Class R6 | 4,192,341 | 4,384,530 |
Total | $13,174,819 | $8,856,218 |
Outstanding units of beneficial interest (shares) ($0.0001 par value; unlimited number of shares authorized): | ||
Class A | 33,950 | 36,397 |
Class C | 1,268 | 5,305 |
Class I | 51,003 | 47,659 |
Class L | 160,023 | 36,203 |
Class R2 | 1,937 | 12 |
Class R3 | 2,131 | 76 |
Class R4 | 867 | 7 |
Class R5 | 1,402 | 558 |
Class R6 | 116,734 | 123,600 |
Net Asset Value (a): | ||
Class A — Redemption price per share | $34.62 | $35.23 |
Class C — Offering price per share (b) | 32.64 | 35.27 |
Class I — Offering and redemption price per share | 35.26 | 35.52 |
Class L — Offering and redemption price per share | 35.94 | 35.54 |
Class R2 — Offering and redemption price per share | 32.20 | 34.67 |
Class R3 — Offering and redemption price per share | 34.12 | 34.64 |
Class R4 — Offering and redemption price per share | 34.98 | 35.84 |
Class R5 — Offering and redemption price per share | 35.87 | 35.45 |
Class R6 — Offering and redemption price per share | 35.91 | 35.47 |
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)] | $36.54 | $37.18 |
Cost of investments in non-affiliates | $7,863,795 | $5,753,042 |
Cost of investments in affiliates | 168,263 | 86,191 |
Investment securities on loan, at value (See Note 2.C.) | 92,233 | 63,676 |
Cost of investment of cash collateral (See Note 2.C.) | 94,631 | 65,583 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 37 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | JPMorgan Mid Cap Growth Fund | |
INVESTMENT INCOME: | |||
Interest income from affiliates | $— (a) | $5 | $— |
Dividend income from non-affiliates | 43,033 | 24,506 | 23,542 |
Dividend income from affiliates | 7,653 | 2,768 | 4,098 |
Income from securities lending (net) (See Note 2.C.) | 86 | 47 | 165 |
Total investment income | 50,772 | 27,326 | 27,805 |
EXPENSES: | |||
Investment advisory fees | 44,185 | 11,708 | 30,994 |
Administration fees | 5,283 | 1,351 | 3,576 |
Distribution fees: | |||
Class A | 3,825 | 813 | 1,532 |
Class C | 2,795 | 54 | 208 |
Class R2 | 21 | 4 | 119 |
Class R3 | 34 | — | 67 |
Service fees: | |||
Class A | 3,825 | 813 | 1,532 |
Class C | 932 | 18 | 69 |
Class I | 5,730 | 1,222 | 2,958 |
Class R2 | 10 | 2 | 59 |
Class R3 | 34 | — | 67 |
Class R4 | 34 | — | 36 |
Class R5 | 53 | 5 | 247 |
Custodian and accounting fees | 234 | 70 | 144 |
Professional fees | 120 | 34 | 83 |
Trustees’ and Chief Compliance Officer’s fees | 42 | 20 | 29 |
Printing and mailing costs | 293 | 214 | 259 |
Registration and filing fees | 276 | 105 | 142 |
Transfer agency fees (See Note 2.G.) | 193 | 32 | 219 |
Other | 58 | 17 | 45 |
Total expenses | 67,977 | 16,482 | 42,385 |
Less fees waived | (7,086 ) | (2,073 ) | (3,325 ) |
Less expense reimbursements | (2 ) | (12 ) | (1 ) |
Net expenses | 60,889 | 14,397 | 39,059 |
Net investment income (loss) | (10,117 ) | 12,929 | (11,254 ) |
38 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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 | $380,876 | $42,564 | $63,051 |
Investments in affiliates | 90 | 20 | 34 |
Net realized gain (loss) | 380,966 | 42,584 | 63,085 |
Change in net unrealized appreciation/depreciation on: | |||
Investments in non-affiliates | 1,178,205 | 204,338 | 634,062 |
Investments in affiliates | 114 | 39 | 87 |
Change in net unrealized appreciation/depreciation | 1,178,319 | 204,377 | 634,149 |
Net realized/unrealized gains (losses) | 1,559,285 | 246,961 | 697,234 |
Change in net assets resulting from operations | $1,549,168 | $259,890 | $685,980 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 39 |
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
INVESTMENT INCOME: | ||
Interest income from affiliates | $— (a) | $— |
Dividend income from non-affiliates | 122,353 | 100,355 |
Dividend income from affiliates | 6,929 | 4,675 |
Income from securities lending (net) (See Note 2.C.) | 122 | 500 |
Total investment income | 129,404 | 105,530 |
EXPENSES: | ||
Investment advisory fees | 42,134 | 24,091 |
Administration fees | 4,512 | 3,285 |
Distribution fees: | ||
Class A | 1,432 | 1,551 |
Class C | 159 | 760 |
Class R2 | 149 | 1 |
Class R3 | 88 | 3 |
Service fees: | ||
Class A | 1,432 | 1,551 |
Class C | 53 | 253 |
Class I | 2,232 | 2,176 |
Class L | 2,882 | 675 |
Class R2 | 75 | 1 |
Class R3 | 88 | 3 |
Class R4 | 29 | — (a) |
Class R5 | 23 | 9 |
Custodian and accounting fees | 202 | 135 |
Professional fees | 62 | 48 |
Trustees’ and Chief Compliance Officer’s fees | 37 | 29 |
Printing and mailing costs | 464 | 220 |
Registration and filing fees | 169 | 135 |
Transfer agency fees (See Note 2.G.) | 148 | 104 |
Other | 76 | 35 |
Total expenses | 56,446 | 35,065 |
Less fees waived | (5,955 ) | (4,232 ) |
Less expense reimbursements | (25 ) | (26 ) |
Net expenses | 50,466 | 30,807 |
Net investment income (loss) | 78,938 | 74,723 |
40 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Mid Cap Value Fund | JPMorgan Value Advantage Fund | |
REALIZED/UNREALIZED GAINS (LOSSES): | ||
Net realized gain (loss) on transactions from: | ||
Investments in non-affiliates | $484,847 | $183,907 |
Investments in affiliates | 60 | 73 |
Net realized gain (loss) | 484,907 | 183,980 |
Change in net unrealized appreciation/depreciation on: | ||
Investments in non-affiliates | 296,477 | 405,733 |
Investments in affiliates | 41 | 39 |
Change in net unrealized appreciation/depreciation | 296,518 | 405,772 |
Net realized/unrealized gains (losses) | 781,425 | 589,752 |
Change in net assets resulting from operations | $860,363 | $664,475 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 41 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $(10,117 ) | $(8,786 ) | $12,929 | $20,754 |
Net realized gain (loss) | 380,966 | (276,523 ) | 42,584 | (63,107 ) |
Change in net unrealized appreciation/depreciation | 1,178,319 | 3,464,702 | 204,377 | 447,209 |
Change in net assets resulting from operations | 1,549,168 | 3,179,393 | 259,890 | 404,856 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | (21,306 ) | (9,869 ) | (2,183 ) | (14,573 ) |
Class C | (5,886 ) | (3,852 ) | — | (355 ) |
Class I | (29,953 ) | (13,567 ) | (5,092 ) | (23,622 ) |
Class R2 | (59 ) | (23 ) | (3 ) | (19 ) |
Class R3 | (169 ) | (53 ) | — | — |
Class R4 | (181 ) | (80 ) | — | — |
Class R5 | (613 ) | (309 ) | (70 ) | (256 ) |
Class R6 | (45,955 ) | (21,818 ) | (15,747 ) | (47,896 ) |
Total distributions to shareholders | (104,122 ) | (49,571 ) | (23,095 ) | (86,721 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | (107,145 ) | 689,481 | 159,171 | 610,238 |
NET ASSETS: | ||||
Change in net assets | 1,337,901 | 3,819,303 | 395,966 | 928,373 |
Beginning of period | 15,900,620 | 12,081,317 | 3,557,761 | 2,629,388 |
End of period | $17,238,521 | $15,900,620 | $3,953,727 | $3,557,761 |
42 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $(11,254 ) | $(19,235 ) | $78,938 | $176,072 |
Net realized gain (loss) | 63,085 | (207,844 ) | 484,907 | 478,601 |
Change in net unrealized appreciation/depreciation | 634,149 | 1,704,341 | 296,518 | 671,000 |
Change in net assets resulting from operations | 685,980 | 1,477,262 | 860,363 | 1,325,673 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Class A | — | (10,987 ) | (67,222 ) | (130,792 ) |
Class C | — | (893 ) | (2,347 ) | (5,897 ) |
Class I | — | (12,879 ) | (104,058 ) | (224,520 ) |
Class L | — | — | (342,226 ) | (702,742 ) |
Class R2 | — | (363 ) | (3,702 ) | (7,028 ) |
Class R3 | — | (350 ) | (4,230 ) | (7,579 ) |
Class R4 | — | (155 ) | (1,805 ) | (2,373 ) |
Class R5 | — | (3,443 ) | (2,919 ) | (5,275 ) |
Class R6 | — | (31,445 ) | (248,302 ) | (424,674 ) |
Total distributions to shareholders | — | (60,515 ) | (776,811 ) | (1,510,880 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 202,647 | 1,064,246 | (378,275 ) | (153,604 ) |
NET ASSETS: | ||||
Change in net assets | 888,627 | 2,480,993 | (294,723 ) | (338,811 ) |
Beginning of period | 9,460,892 | 6,979,899 | 13,469,542 | 13,808,353 |
End of period | $10,349,519 | $9,460,892 | $13,174,819 | $13,469,542 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 43 |
JPMorgan Value Advantage Fund | ||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||
Net investment income (loss) | $74,723 | $164,522 |
Net realized gain (loss) | 183,980 | 593,280 |
Change in net unrealized appreciation/depreciation | 405,772 | (74,030 ) |
Change in net assets resulting from operations | 664,475 | 683,772 |
DISTRIBUTIONS TO SHAREHOLDERS: | ||
Class A | (86,156 ) | (123,104 ) |
Class C | (11,569 ) | (23,870 ) |
Class I | (117,447 ) | (195,765 ) |
Class L | (91,081 ) | (151,034 ) |
Class R2 | (26 ) | (28 ) |
Class R3 | (182 ) | (211 ) |
Class R4 | (16 ) | (11 ) |
Class R5 | (1,376 ) | (245 ) |
Class R6 | (311,065 ) | (419,747 ) |
Total distributions to shareholders | (618,918 ) | (914,015 ) |
CAPITAL TRANSACTIONS: | ||
Change in net assets resulting from capital transactions | (276,750 ) | (258,480 ) |
NET ASSETS: | ||
Change in net assets | (231,193 ) | (488,723 ) |
Beginning of period | 9,087,411 | 9,576,134 |
End of period | $8,856,218 | $9,087,411 |
44 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $337,305 | $420,160 | $63,729 | $124,491 |
Distributions reinvested | 20,640 | 9,540 | 2,179 | 14,566 |
Cost of shares redeemed | (229,528 ) | (418,393 ) | (43,743 ) | (82,803 ) |
Change in net assets resulting from Class A capital transactions | 128,417 | 11,307 | 22,165 | 56,254 |
Class C | ||||
Proceeds from shares issued | 46,186 | 77,880 | 1,861 | 7,074 |
Distributions reinvested | 5,757 | 3,767 | — | 354 |
Cost of shares redeemed | (208,054 ) | (236,954 ) | (2,381 ) | (7,711 ) |
Change in net assets resulting from Class C capital transactions | (156,111 ) | (155,307 ) | (520 ) | (283 ) |
Class I | ||||
Proceeds from shares issued | 549,462 | 1,196,907 | 131,764 | 411,226 |
Distributions reinvested | 27,951 | 12,857 | 5,085 | 23,594 |
Cost of shares redeemed | (514,977 ) | (978,297 ) | (157,488 ) | (331,278 ) |
Change in net assets resulting from Class I capital transactions | 62,436 | 231,467 | (20,639 ) | 103,542 |
Class R2 | ||||
Proceeds from shares issued | 1,680 | 3,042 | 361 | 973 |
Distributions reinvested | 59 | 23 | 3 | 18 |
Cost of shares redeemed | (363 ) | (2,508 ) | (166 ) | (107 ) |
Change in net assets resulting from Class R2 capital transactions | 1,376 | 557 | 198 | 884 |
Class R3 | ||||
Proceeds from shares issued | 4,862 | 15,556 | — | — |
Distributions reinvested | 121 | 43 | — | — |
Cost of shares redeemed | (7,100 ) | (5,884 ) | — | — |
Change in net assets resulting from Class R3 capital transactions | (2,117 ) | 9,715 | — | — |
Class R4 | ||||
Proceeds from shares issued | 4,702 | 8,054 | — | — |
Distributions reinvested | 181 | 80 | — | — |
Cost of shares redeemed | (1,746 ) | (3,665 ) | — | — |
Change in net assets resulting from Class R4 capital transactions | 3,137 | 4,469 | — | — |
Class R5 | ||||
Proceeds from shares issued | 9,005 | 19,006 | 321 | 9,562 |
Distributions reinvested | 595 | 300 | 70 | 256 |
Cost of shares redeemed | (18,849 ) | (40,172 ) | (41 ) | (7 ) |
Change in net assets resulting from Class R5 capital transactions | (9,249 ) | (20,866 ) | 350 | 9,811 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 45 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $901,214 | $2,089,657 | $330,674 | $689,101 |
Distributions reinvested | 45,629 | 21,669 | 15,599 | 47,800 |
Cost of shares redeemed | (1,081,877 ) | (1,503,187 ) | (188,656 ) | (296,871 ) |
Change in net assets resulting from Class R6 capital transactions | (135,034 ) | 608,139 | 157,617 | 440,030 |
Total change in net assets resulting from capital transactions | $(107,145 ) | $689,481 | $159,171 | $610,238 |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 11,865 | 17,387 | 1,208 | 2,464 |
Reinvested | 685 | 406 | 39 | 286 |
Redeemed | (8,063 ) | (17,571 ) | (831 ) | (1,642 ) |
Change in Class A Shares | 4,487 | 222 | 416 | 1,108 |
Class C | ||||
Issued | 2,049 | 4,078 | 37 | 149 |
Reinvested | 242 | 202 | — | 8 |
Redeemed | (9,288 ) | (12,495 ) | (49 ) | (162 ) |
Change in Class C Shares | (6,997 ) | (8,215 ) | (12 ) | (5 ) |
Class I | ||||
Issued | 18,248 | 47,175 | 2,431 | 7,838 |
Reinvested | 874 | 518 | 89 | 454 |
Redeemed | (17,091 ) | (38,725 ) | (2,945 ) | (6,380 ) |
Change in Class I Shares | 2,031 | 8,968 | (425 ) | 1,912 |
Class R2 | ||||
Issued | 61 | 132 | 6 | 20 |
Reinvested | 2 | 1 | — (a) | — (a) |
Redeemed | (13 ) | (105 ) | (3 ) | (2 ) |
Change in Class R2 Shares | 50 | 28 | 3 | 18 |
Class R3 | ||||
Issued | 167 | 639 | — | — |
Reinvested | 4 | 2 | — | — |
Redeemed | (246 ) | (253 ) | — | — |
Change in Class R3 Shares | (75 ) | 388 | — | — |
Class R4 | ||||
Issued | 158 | 310 | — | — |
Reinvested | 6 | 3 | — | — |
Redeemed | (59 ) | (139 ) | — | — |
Change in Class R4 Shares | 105 | 174 | — | — |
46 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Growth Advantage Fund | JPMorgan Mid Cap Equity Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R5 | ||||
Issued | 288 | 719 | 6 | 179 |
Reinvested | 18 | 12 | 1 | 5 |
Redeemed | (596 ) | (1,536 ) | (1 ) | — (a) |
Change in Class R5 Shares | (290 ) | (805 ) | 6 | 184 |
Class R6 | ||||
Issued | 28,765 | 77,018 | 6,123 | 13,313 |
Reinvested | 1,359 | 834 | 274 | 921 |
Redeemed | (34,079 ) | (55,972 ) | (3,483 ) | (5,715 ) |
Change in Class R6 Shares | (3,955 ) | 21,880 | 2,914 | 8,519 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 47 |
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CAPITAL TRANSACTIONS: | ||||
Class A | ||||
Proceeds from shares issued | $76,740 | $117,565 | $49,618 | $148,055 |
Distributions reinvested | — | 10,603 | 62,837 | 122,041 |
Cost of shares redeemed | (94,281 ) | (205,255 ) | (126,434 ) | (271,396 ) |
Change in net assets resulting from Class A capital transactions | (17,541 ) | (77,087 ) | (13,979 ) | (1,300 ) |
Class C | ||||
Proceeds from shares issued | 4,060 | 7,713 | 1,792 | 7,114 |
Distributions reinvested | — | 879 | 2,261 | 5,724 |
Cost of shares redeemed | (13,888 ) | (25,672 ) | (7,583 ) | (28,199 ) |
Change in net assets resulting from Class C capital transactions | (9,828 ) | (17,080 ) | (3,530 ) | (15,361 ) |
Class I | ||||
Proceeds from shares issued | 347,656 | 1,078,278 | 137,857 | 461,615 |
Distributions reinvested | — | 12,088 | 97,819 | 211,365 |
Cost of shares redeemed | (318,366 ) | (471,463 ) | (334,368 ) | (1,042,851 ) |
Change in net assets resulting from Class I capital transactions | 29,290 | 618,903 | (98,692 ) | (369,871 ) |
Class L | ||||
Proceeds from shares issued | — | — | 249,918 | 732,499 |
Distributions reinvested | — | — | 322,843 | 670,198 |
Cost of shares redeemed | — | — | (927,918 ) | (1,834,947 ) |
Change in net assets resulting from Class L capital transactions | — | — | (355,157 ) | (432,250 ) |
Class R2 | ||||
Proceeds from shares issued | 7,939 | 9,987 | 3,236 | 7,527 |
Distributions reinvested | — | 363 | 3,695 | 7,012 |
Cost of shares redeemed | (7,400 ) | (12,941 ) | (5,139 ) | (12,407 ) |
Change in net assets resulting from Class R2 capital transactions | 539 | (2,591 ) | 1,792 | 2,132 |
Class R3 | ||||
Proceeds from shares issued | 12,418 | 21,394 | 2,839 | 7,400 |
Distributions reinvested | — | 344 | 3,962 | 7,118 |
Cost of shares redeemed | (12,615 ) | (14,849 ) | (5,973 ) | (12,011 ) |
Change in net assets resulting from Class R3 capital transactions | (197 ) | 6,889 | 828 | 2,507 |
Class R4 | ||||
Proceeds from shares issued | 14,083 | 5,461 | 12,151 | 3,167 |
Distributions reinvested | — | 155 | 1,805 | 2,373 |
Cost of shares redeemed | (4,889 ) | (5,600 ) | (2,515 ) | (9,532 ) |
Change in net assets resulting from Class R4 capital transactions | 9,194 | 16 | 11,441 | (3,992 ) |
Class R5 | ||||
Proceeds from shares issued | 39,610 | 86,914 | 4,031 | 5,993 |
Distributions reinvested | — | 3,209 | 2,912 | 5,265 |
Cost of shares redeemed | (45,098 ) | (116,211 ) | (4,473 ) | (11,556 ) |
Change in net assets resulting from Class R5 capital transactions | (5,488 ) | (26,088 ) | 2,470 | (298 ) |
48 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CAPITAL TRANSACTIONS: (continued) | ||||
Class R6 | ||||
Proceeds from shares issued | $633,144 | $1,289,860 | $433,503 | $1,135,555 |
Distributions reinvested | — | 30,834 | 223,013 | 377,967 |
Cost of shares redeemed | (436,466 ) | (759,410 ) | (579,964 ) | (848,693 ) |
Change in net assets resulting from Class R6 capital transactions | 196,678 | 561,284 | 76,552 | 664,829 |
Total change in net assets resulting from capital transactions | $202,647 | $1,064,246 | $(378,275 ) | $(153,604 ) |
SHARE TRANSACTIONS: | ||||
Class A | ||||
Issued | 2,206 | 3,669 | 1,464 | 4,251 |
Reinvested | — | 332 | 1,835 | 3,559 |
Redeemed | (2,721 ) | (6,396 ) | (3,733 ) | (7,898 ) |
Change in Class A Shares | (515 ) | (2,395 ) | (434 ) | (88 ) |
Class C | ||||
Issued | 176 | 357 | 56 | 216 |
Reinvested | — | 41 | 70 | 177 |
Redeemed | (602 ) | (1,208 ) | (237 ) | (858 ) |
Change in Class C Shares | (426 ) | (810 ) | (111 ) | (465 ) |
Class I | ||||
Issued | 8,142 | 27,142 | 4,027 | 13,296 |
Reinvested | — | 305 | 2,800 | 6,053 |
Redeemed | (7,449 ) | (11,953 ) | (9,745 ) | (29,600 ) |
Change in Class I Shares | 693 | 15,494 | (2,918 ) | (10,251 ) |
Class L | ||||
Issued | — | — | 7,121 | 20,306 |
Reinvested | — | — | 9,061 | 18,844 |
Redeemed | — | — | (26,441 ) | (51,351 ) |
Change in Class L Shares | — | — | (10,259 ) | (12,201 ) |
Class R2 | ||||
Issued | 207 | 280 | 102 | 232 |
Reinvested | — | 10 | 116 | 219 |
Redeemed | (193 ) | (363 ) | (164 ) | (390 ) |
Change in Class R2 Shares | 14 | (73 ) | 54 | 61 |
Class R3 | ||||
Issued | 296 | 562 | 85 | 217 |
Reinvested | — | 9 | 117 | 210 |
Redeemed | (298 ) | (381 ) | (178 ) | (346 ) |
Change in Class R3 Shares | (2 ) | 190 | 24 | 81 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 49 |
JPMorgan Mid Cap Growth Fund | JPMorgan Mid Cap Value Fund | |||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
SHARE TRANSACTIONS: (continued) | ||||
Class R4 | ||||
Issued | 327 | 139 | 361 | 90 |
Reinvested | — | 4 | 52 | 69 |
Redeemed | (113 ) | (142 ) | (74 ) | (271 ) |
Change in Class R4 Shares | 214 | 1 | 339 | (112 ) |
Class R5 | ||||
Issued | 884 | 2,138 | 115 | 168 |
Reinvested | — | 79 | 82 | 148 |
Redeemed | (1,021 ) | (2,886 ) | (127 ) | (324 ) |
Change in Class R5 Shares | (137 ) | (669 ) | 70 | (8 ) |
Class R6 | ||||
Issued | 14,272 | 31,323 | 12,367 | 31,333 |
Reinvested | — | 753 | 6,260 | 10,632 |
Redeemed | (9,845 ) | (18,539 ) | (16,555 ) | (23,753 ) |
Change in Class R6 Shares | 4,427 | 13,537 | 2,072 | 18,212 |
50 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Value Advantage Fund | ||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CAPITAL TRANSACTIONS: | ||
Class A | ||
Proceeds from shares issued | $111,697 | $380,410 |
Distributions reinvested | 82,951 | 117,446 |
Cost of shares redeemed | (166,752 ) | (309,869 ) |
Change in net assets resulting from Class A capital transactions | 27,896 | 187,987 |
Class C | ||
Proceeds from shares issued | 10,895 | 33,685 |
Distributions reinvested | 11,344 | 23,478 |
Cost of shares redeemed | (59,369 ) | (109,155 ) |
Change in net assets resulting from Class C capital transactions | (37,130 ) | (51,992 ) |
Class I | ||
Proceeds from shares issued | 133,886 | 381,472 |
Distributions reinvested | 109,685 | 178,020 |
Cost of shares redeemed | (408,397 ) | (695,145 ) |
Change in net assets resulting from Class I capital transactions | (164,826 ) | (135,653 ) |
Class L | ||
Proceeds from shares issued | 59,900 | 173,061 |
Distributions reinvested | 85,564 | 143,444 |
Cost of shares redeemed | (270,510 ) | (526,510 ) |
Change in net assets resulting from Class L capital transactions | (125,046 ) | (210,005 ) |
Class R2 | ||
Proceeds from shares issued | 45 | 65 |
Distributions reinvested | 26 | 28 |
Cost of shares redeemed | (1 ) | (42 ) |
Change in net assets resulting from Class R2 capital transactions | 70 | 51 |
Class R3 | ||
Proceeds from shares issued | 576 | 613 |
Distributions reinvested | 152 | 161 |
Cost of shares redeemed | (301 ) | (1,428 ) |
Change in net assets resulting from Class R3 capital transactions | 427 | (654 ) |
Class R4 | ||
Proceeds from shares issued | 53 | 50 |
Distributions reinvested | 16 | 11 |
Cost of shares redeemed | (1 ) | (3 ) |
Change in net assets resulting from Class R4 capital transactions | 68 | 58 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 51 |
JPMorgan Value Advantage Fund | ||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
CAPITAL TRANSACTIONS: (continued) | ||
Class R5 | ||
Proceeds from shares issued | $742 | $19,960 |
Distributions reinvested | 1,356 | 220 |
Cost of shares redeemed | (521 ) | (2,906 ) |
Change in net assets resulting from Class R5 capital transactions | 1,577 | 17,274 |
Class R6 | ||
Proceeds from shares issued | 386,694 | 821,643 |
Distributions reinvested | 310,545 | 419,131 |
Cost of shares redeemed | (677,025 ) | (1,306,320 ) |
Change in net assets resulting from Class R6 capital transactions | 20,214 | (65,546 ) |
Total change in net assets resulting from capital transactions | $(276,750 ) | $(258,480 ) |
SHARE TRANSACTIONS: | ||
Class A | ||
Issued | 3,213 | 10,486 |
Reinvested | 2,370 | 3,312 |
Redeemed | (4,767 ) | (8,759 ) |
Change in Class A Shares | 816 | 5,039 |
Class C | ||
Issued | 313 | 942 |
Reinvested | 325 | 664 |
Redeemed | (1,713 ) | (3,069 ) |
Change in Class C Shares | (1,075 ) | (1,463 ) |
Class I | ||
Issued | 3,812 | 10,667 |
Reinvested | 3,105 | 4,981 |
Redeemed | (11,651 ) | (19,423 ) |
Change in Class I Shares | (4,734 ) | (3,775 ) |
Class L | ||
Issued | 1,694 | 4,801 |
Reinvested | 2,419 | 4,009 |
Redeemed | (7,709 ) | (14,491 ) |
Change in Class L Shares | (3,596 ) | (5,681 ) |
Class R2 | ||
Issued | 1 | 2 |
Reinvested | 1 | 1 |
Redeemed | — (a) | (1 ) |
Change in Class R2 Shares | 2 | 2 |
52 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
JPMorgan Value Advantage Fund | ||
Six Months Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 | |
SHARE TRANSACTIONS: (continued) | ||
Class R3 | ||
Issued | 17 | 18 |
Reinvested | 4 | 4 |
Redeemed | (9 ) | (38 ) |
Change in Class R3 Shares | 12 | (16 ) |
Class R4 | ||
Issued | 1 | 2 |
Reinvested | 1 | — (a) |
Redeemed | — (a) | — (a) |
Change in Class R4 Shares | 2 | 2 |
Class R5 | ||
Issued | 22 | 557 |
Reinvested | 38 | 6 |
Redeemed | (15 ) | (83 ) |
Change in Class R5 Shares | 45 | 480 |
Class R6 | ||
Issued | 10,973 | 23,201 |
Reinvested | 8,790 | 11,732 |
Redeemed | (19,144 ) | (35,732 ) |
Change in Class R6 Shares | 619 | (799 ) |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 53 |
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 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $28.14 | $(0.06 ) | $2.76 | $2.70 | $— | $(0.20 ) | $(0.20 ) |
Year Ended June 30, 2023 | 22.52 | (0.08 ) | 5.79 | 5.71 | — | (0.09 ) | (0.09 ) |
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 ) |
Class C | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 22.25 | (0.10 ) | 2.17 | 2.07 | — | (0.20 ) | (0.20 ) |
Year Ended June 30, 2023 | 17.91 | (0.16 ) | 4.59 | 4.43 | — | (0.09 ) | (0.09 ) |
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 ) |
Class I | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 29.79 | (0.02 ) | 2.93 | 2.91 | — | (0.20 ) | (0.20 ) |
Year Ended June 30, 2023 | 23.78 | (0.02 ) | 6.12 | 6.10 | — | (0.09 ) | (0.09 ) |
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 ) |
Class R2 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 27.58 | (0.09 ) | 2.71 | 2.62 | — | (0.20 ) | (0.20 ) |
Year Ended June 30, 2023 | 22.14 | (0.14 ) | 5.67 | 5.53 | — | (0.09 ) | (0.09 ) |
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 ) |
Class R3 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 28.08 | (0.06 ) | 2.76 | 2.70 | — | (0.20 ) | (0.20 ) |
Year Ended June 30, 2023 | 22.48 | (0.09 ) | 5.78 | 5.69 | — | (0.09 ) | (0.09 ) |
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 ) |
Class R4 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 29.80 | (0.02 ) | 2.93 | 2.91 | — | (0.20 ) | (0.20 ) |
Year Ended June 30, 2023 | 23.79 | (0.02 ) | 6.12 | 6.10 | — | (0.09 ) | (0.09 ) |
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 ) |
54 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$30.64 | 9.59 % | $3,358,270 | 1.04 % | (0.41 )% | 1.14 % | 14 % |
28.14 | 25.46 | 2,957,562 | 1.04 | (0.34 ) | 1.14 | 38 |
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 |
24.12 | 9.30 | 707,603 | 1.54 | (0.91 ) | 1.64 | 14 |
22.25 | 24.86 | 808,227 | 1.54 | (0.84 ) | 1.64 | 38 |
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 |
32.50 | 9.77 | 4,970,471 | 0.79 | (0.16 ) | 0.88 | 14 |
29.79 | 25.75 | 4,496,251 | 0.79 | (0.09 ) | 0.89 | 38 |
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 |
30.00 | 9.50 | 9,054 | 1.30 | (0.67 ) | 1.42 | 14 |
27.58 | 25.08 | 6,945 | 1.30 | (0.60 ) | 1.44 | 38 |
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 |
30.58 | 9.61 | 27,563 | 1.05 | (0.42 ) | 1.14 | 14 |
28.08 | 25.41 | 27,413 | 1.05 | (0.36 ) | 1.15 | 38 |
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 |
32.51 | 9.76 | 30,166 | 0.80 | (0.16 ) | 0.88 | 14 |
29.80 | 25.74 | 24,519 | 0.80 | (0.09 ) | 0.89 | 38 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 55 |
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 R5 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $30.85 | $— | $3.03 | $3.03 | $— | $(0.20 ) | $(0.20 ) |
Year Ended June 30, 2023 | 24.59 | 0.01 | 6.34 | 6.35 | — | (0.09 ) | (0.09 ) |
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 ) |
Class R6 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 31.24 | 0.01 | 3.08 | 3.09 | — | (0.20 ) | (0.20 ) |
Year Ended June 30, 2023 | 24.88 | 0.04 | 6.41 | 6.45 | — | (0.09 ) | (0.09 ) |
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 ) |
(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 interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
56 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$33.68 | 9.82 % | $104,699 | 0.65 % | (0.01 )% | 0.73 % | 14 % |
30.85 | 25.92 | 104,828 | 0.65 | 0.05 | 0.74 | 38 |
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 |
34.13 | 9.89 | 8,030,695 | 0.55 | 0.08 | 0.63 | 14 |
31.24 | 26.02 | 7,474,875 | 0.55 | 0.15 | 0.64 | 38 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 57 |
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 Mid Cap Equity Fund | |||||||
Class A | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $53.29 | $0.10 | $3.56 | $3.66 | $(0.18 ) | $— | $(0.18 ) |
Year Ended June 30, 2023 | 48.06 | 0.16 | 6.37 | 6.53 | (0.12 ) | (1.18 ) | (1.30 ) |
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 ) |
Class C | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 49.56 | (0.03 ) | 3.29 | 3.26 | — | — | — |
Year Ended June 30, 2023 | 44.88 | (0.09 ) | 5.95 | 5.86 | — | (1.18 ) | (1.18 ) |
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 ) |
Class I | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 54.58 | 0.17 | 3.64 | 3.81 | (0.29 ) | — | (0.29 ) |
Year Ended June 30, 2023 | 49.19 | 0.30 | 6.51 | 6.81 | (0.24 ) | (1.18 ) | (1.42 ) |
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 ) |
Class R2 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 52.24 | 0.04 | 3.46 | 3.50 | (0.10 ) | — | (0.10 ) |
Year Ended June 30, 2023 | 47.19 | 0.06 | 6.22 | 6.28 | (0.05 ) | (1.18 ) | (1.23 ) |
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 ) |
Class R5 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 54.78 | 0.21 | 3.65 | 3.86 | (0.37 ) | — | (0.37 ) |
Year Ended June 30, 2023 | 49.42 | 0.44 | 6.47 | 6.91 | (0.37 ) | (1.18 ) | (1.55 ) |
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 ) |
58 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$56.77 | 6.87 % | $708,277 | 1.14 % | 0.38 % | 1.26 % | 19 % |
53.29 | 13.70 | 642,773 | 1.14 | 0.32 | 1.26 | 40 |
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 |
52.82 | 6.58 | 15,319 | 1.64 | (0.13 ) | 1.77 | 19 |
49.56 | 13.16 | 14,923 | 1.64 | (0.18 ) | 1.78 | 40 |
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 |
58.10 | 6.99 | 1,034,521 | 0.89 | 0.62 | 1.00 | 19 |
54.58 | 13.99 | 995,077 | 0.89 | 0.58 | 1.01 | 40 |
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 |
55.64 | 6.71 | 1,857 | 1.39 | 0.14 | 1.64 | 19 |
52.24 | 13.43 | 1,546 | 1.39 | 0.11 | 1.68 | 40 |
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 |
58.27 | 7.06 | 11,080 | 0.74 | 0.78 | 0.85 | 19 |
54.78 | 14.15 | 10,068 | 0.74 | 0.84 | 0.86 | 40 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 59 |
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 Mid Cap Equity Fund (continued) | |||||||
Class R6 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $54.73 | $0.24 | $3.66 | $3.90 | $(0.43 ) | $— | $(0.43 ) |
Year Ended June 30, 2023 | 49.32 | 0.43 | 6.53 | 6.96 | (0.37 ) | (1.18 ) | (1.55 ) |
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 ) |
(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 interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
60 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$58.20 | 7.13 % | $2,182,673 | 0.64 % | 0.89 % | 0.75 % | 19 % |
54.73 | 14.28 | 1,893,374 | 0.64 | 0.83 | 0.76 | 40 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 61 |
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 Mid Cap Growth Fund | |||||||
Class A | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $35.03 | $(0.10 ) | $2.52 | $2.42 | $— | $— | $— |
Year Ended June 30, 2023 | 29.58 | (0.18 ) | 5.93 | 5.75 | — | (0.30 ) | (0.30 ) |
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 ) |
Class C | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 23.29 | (0.12 ) | 1.66 | 1.54 | — | — | — |
Year Ended June 30, 2023 | 19.86 | (0.23 ) | 3.96 | 3.73 | — | (0.30 ) | (0.30 ) |
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 ) |
Class I | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 43.56 | (0.07 ) | 3.13 | 3.06 | — | — | — |
Year Ended June 30, 2023 | 36.62 | (0.12 ) | 7.36 | 7.24 | — | (0.30 ) | (0.30 ) |
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 ) |
Class R2 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 38.91 | (0.17 ) | 2.80 | 2.63 | — | — | — |
Year Ended June 30, 2023 | 32.93 | (0.31 ) | 6.59 | 6.28 | — | (0.30 ) | (0.30 ) |
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 ) |
Class R3 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 42.44 | (0.13 ) | 3.04 | 2.91 | — | — | — |
Year Ended June 30, 2023 | 35.80 | (0.24 ) | 7.18 | 6.94 | — | (0.30 ) | (0.30 ) |
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 ) |
Class R4 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 43.34 | (0.08 ) | 3.12 | 3.04 | — | — | — |
Year Ended June 30, 2023 | 36.47 | (0.14 ) | 7.31 | 7.17 | — | (0.30 ) | (0.30 ) |
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 ) |
62 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return(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) |
$37.45 | 6.91 % | $1,308,825 | 1.14 % | (0.56 )% | 1.26 % | 22 % |
35.03 | 19.53 | 1,242,347 | 1.14 | (0.56 ) | 1.26 | 45 |
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 |
24.83 | 6.61 | 53,732 | 1.64 | (1.06 ) | 1.75 | 22 |
23.29 | 18.91 | 60,306 | 1.64 | (1.06 ) | 1.75 | 45 |
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 |
46.62 | 7.02 | 2,541,338 | 0.89 | (0.31 ) | 0.99 | 22 |
43.56 | 19.84 | 2,344,119 | 0.89 | (0.30 ) | 1.00 | 45 |
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 |
41.54 | 6.76 | 50,656 | 1.45 | (0.87 ) | 1.55 | 22 |
38.91 | 19.15 | 46,941 | 1.45 | (0.87 ) | 1.55 | 45 |
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 |
45.35 | 6.86 | 54,698 | 1.20 | (0.61 ) | 1.25 | 22 |
42.44 | 19.46 | 51,316 | 1.20 | (0.62 ) | 1.25 | 45 |
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 |
46.38 | 7.01 | 34,729 | 0.95 | (0.36 ) | 1.00 | 22 |
43.34 | 19.73 | 23,144 | 0.95 | (0.37 ) | 1.00 | 45 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 63 |
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 Mid Cap Growth Fund (continued) | |||||||
Class R5 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $44.56 | $(0.05 ) | $3.21 | $3.16 | $— | $— | $— |
Year Ended June 30, 2023 | 37.42 | (0.08 ) | 7.52 | 7.44 | — | (0.30 ) | (0.30 ) |
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 ) |
Class R6 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 44.96 | (0.03 ) | 3.24 | 3.21 | — | — | — |
Year Ended June 30, 2023 | 37.73 | (0.05 ) | 7.58 | 7.53 | — | (0.30 ) | (0.30 ) |
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 ) |
(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 interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
64 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
Ratios/Supplemental data | ||||||
Ratios to average net assets(a) | ||||||
Net asset value, end of period | Total return(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) |
$47.72 | 7.09 % | $533,219 | 0.79 % | (0.21 )% | 0.84 % | 22 % |
44.56 | 19.95 | 504,025 | 0.79 | (0.21 ) | 0.85 | 45 |
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 |
48.17 | 7.14 | 5,772,322 | 0.70 | (0.11 ) | 0.74 | 22 |
44.96 | 20.03 | 5,188,694 | 0.70 | (0.11 ) | 0.75 | 45 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 65 |
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 Mid Cap Value Fund | |||||||
Class A | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $34.36 | $0.15 | $2.16 | $2.31 | $(0.34 ) | $(1.71 ) | $(2.05 ) |
Year Ended June 30, 2023 | 34.90 | 0.32 | 3.01 | 3.33 | (0.28 ) | (3.59 ) | (3.87 ) |
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 ) |
Class C | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 32.43 | 0.06 | 2.03 | 2.09 | (0.17 ) | (1.71 ) | (1.88 ) |
Year Ended June 30, 2023 | 33.10 | 0.13 | 2.86 | 2.99 | (0.07 ) | (3.59 ) | (3.66 ) |
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 ) |
Class I | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 34.99 | 0.19 | 2.21 | 2.40 | (0.42 ) | (1.71 ) | (2.13 ) |
Year Ended June 30, 2023 | 35.48 | 0.40 | 3.07 | 3.47 | (0.37 ) | (3.59 ) | (3.96 ) |
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 ) |
Class L | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 35.66 | 0.22 | 2.25 | 2.47 | (0.48 ) | (1.71 ) | (2.19 ) |
Year Ended June 30, 2023 | 36.09 | 0.47 | 3.12 | 3.59 | (0.43 ) | (3.59 ) | (4.02 ) |
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 ) |
Class R2 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 32.08 | 0.10 | 2.01 | 2.11 | (0.28 ) | (1.71 ) | (1.99 ) |
Year Ended June 30, 2023 | 32.84 | 0.21 | 2.84 | 3.05 | (0.22 ) | (3.59 ) | (3.81 ) |
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 ) |
Class R3 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 33.90 | 0.14 | 2.14 | 2.28 | (0.35 ) | (1.71 ) | (2.06 ) |
Year Ended June 30, 2023 | 34.49 | 0.31 | 2.98 | 3.29 | (0.29 ) | (3.59 ) | (3.88 ) |
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 ) |
66 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$34.62 | 6.86 % | $1,175,231 | 1.14 % | 0.86 % | 1.25 % | 5 % |
34.36 | 9.66 | 1,181,402 | 1.14 | 0.91 | 1.24 | 12 |
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 |
32.64 | 6.58 | 41,411 | 1.64 | 0.35 | 1.75 | 5 |
32.43 | 9.10 | 44,732 | 1.64 | 0.38 | 1.74 | 12 |
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 |
35.26 | 7.00 | 1,798,473 | 0.89 | 1.10 | 0.99 | 5 |
34.99 | 9.92 | 1,886,979 | 0.89 | 1.14 | 0.99 | 12 |
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 |
35.94 | 7.05 | 5,751,654 | 0.75 | 1.25 | 0.84 | 5 |
35.66 | 10.11 | 6,071,628 | 0.75 | 1.29 | 0.84 | 12 |
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 |
32.20 | 6.70 | 62,394 | 1.40 | 0.61 | 1.50 | 5 |
32.08 | 9.39 | 60,386 | 1.40 | 0.65 | 1.49 | 12 |
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 |
34.12 | 6.85 | 72,699 | 1.15 | 0.86 | 1.24 | 5 |
33.90 | 9.65 | 71,414 | 1.15 | 0.90 | 1.24 | 12 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 67 |
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 Mid Cap Value Fund (continued) | |||||||
Class R4 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $34.76 | $0.21 | $2.17 | $2.38 | $(0.45 ) | $(1.71 ) | $(2.16 ) |
Year Ended June 30, 2023 | 35.29 | 0.40 | 3.05 | 3.45 | (0.39 ) | (3.59 ) | (3.98 ) |
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 ) |
Class R5 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 35.59 | 0.22 | 2.25 | 2.47 | (0.48 ) | (1.71 ) | (2.19 ) |
Year Ended June 30, 2023 | 36.03 | 0.47 | 3.10 | 3.57 | (0.42 ) | (3.59 ) | (4.01 ) |
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 ) |
Class R6 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 35.65 | 0.24 | 2.24 | 2.48 | (0.51 ) | (1.71 ) | (2.22 ) |
Year Ended June 30, 2023 | 36.09 | 0.51 | 3.11 | 3.62 | (0.47 ) | (3.59 ) | (4.06 ) |
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 ) |
(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 interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
68 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$34.98 | 6.99 % | $30,337 | 0.90 % | 1.21 % | 0.99 % | 5 % |
34.76 | 9.90 | 18,338 | 0.90 | 1.14 | 0.99 | 12 |
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 |
35.87 | 7.07 | 50,279 | 0.75 | 1.26 | 0.84 | 5 |
35.59 | 10.08 | 47,429 | 0.75 | 1.30 | 0.84 | 12 |
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 |
35.91 | 7.10 | 4,192,341 | 0.65 | 1.36 | 0.74 | 5 |
35.65 | 10.20 | 4,087,234 | 0.65 | 1.42 | 0.74 | 12 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 69 |
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 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $35.00 | $0.24 | $2.46 | $2.70 | $(0.50 ) | $(1.97 ) | $(2.47 ) |
Year Ended June 30, 2023 | 36.05 | 0.52 | 2.02 | 2.54 | (0.53 ) | (3.06 ) | (3.59 ) |
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 ) |
Class C | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 34.90 | 0.15 | 2.45 | 2.60 | (0.26 ) | (1.97 ) | (2.23 ) |
Year Ended June 30, 2023 | 35.91 | 0.34 | 2.00 | 2.34 | (0.29 ) | (3.06 ) | (3.35 ) |
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 ) |
Class I | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 35.30 | 0.29 | 2.48 | 2.77 | (0.58 ) | (1.97 ) | (2.55 ) |
Year Ended June 30, 2023 | 36.31 | 0.61 | 2.03 | 2.64 | (0.59 ) | (3.06 ) | (3.65 ) |
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 ) |
Class L | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 35.35 | 0.31 | 2.48 | 2.79 | (0.63 ) | (1.97 ) | (2.60 ) |
Year Ended June 30, 2023 | 36.36 | 0.66 | 2.04 | 2.70 | (0.65 ) | (3.06 ) | (3.71 ) |
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 ) |
Class R2 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 34.48 | 0.19 | 2.42 | 2.61 | (0.45 ) | (1.97 ) | (2.42 ) |
Year Ended June 30, 2023 | 35.56 | 0.41 | 2.00 | 2.41 | (0.43 ) | (3.06 ) | (3.49 ) |
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 ) |
Class R3 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 34.48 | 0.24 | 2.41 | 2.65 | (0.52 ) | (1.97 ) | (2.49 ) |
Year Ended June 30, 2023 | 35.51 | 0.50 | 2.00 | 2.50 | (0.47 ) | (3.06 ) | (3.53 ) |
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 ) |
70 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$35.23 | 7.85 % | $1,282,100 | 1.04 % | 1.38 % | 1.15 % | 9 % |
35.00 | 7.03 | 1,245,482 | 1.04 | 1.45 | 1.14 | 24 |
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 |
35.27 | 7.57 | 187,094 | 1.54 | 0.87 | 1.65 | 9 |
34.90 | 6.47 | 222,660 | 1.54 | 0.94 | 1.65 | 24 |
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 |
35.52 | 7.98 | 1,692,685 | 0.79 | 1.62 | 0.89 | 9 |
35.30 | 7.29 | 1,849,562 | 0.79 | 1.69 | 0.89 | 24 |
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 |
35.54 | 8.03 | 1,286,725 | 0.65 | 1.76 | 0.74 | 9 |
35.35 | 7.44 | 1,406,943 | 0.65 | 1.83 | 0.74 | 24 |
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 |
34.67 | 7.72 | 407 | 1.30 | 1.12 | 1.54 | 9 |
34.48 | 6.75 | 334 | 1.30 | 1.18 | 1.52 | 24 |
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 |
34.64 | 7.82 | 2,633 | 1.05 | 1.38 | 1.21 | 9 |
34.48 | 7.03 | 2,195 | 1.05 | 1.41 | 1.20 | 24 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 71 |
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 R4 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | $35.62 | $0.29 | $2.50 | $2.79 | $(0.60 ) | $(1.97 ) | $(2.57 ) |
Year Ended June 30, 2023 | 36.30 | 0.61 | 2.04 | 2.65 | (0.27 ) | (3.06 ) | (3.33 ) |
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 ) |
Class R5 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 35.27 | 0.31 | 2.48 | 2.79 | (0.64 ) | (1.97 ) | (2.61 ) |
Year Ended June 30, 2023 | 36.30 | 0.65 | 2.04 | 2.69 | (0.66 ) | (3.06 ) | (3.72 ) |
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 ) |
Class R6 | |||||||
Six Months Ended December 31, 2023 (Unaudited) | 35.31 | 0.33 | 2.47 | 2.80 | (0.67 ) | (1.97 ) | (2.64 ) |
Year Ended June 30, 2023 | 36.32 | 0.69 | 2.05 | 2.74 | (0.69 ) | (3.06 ) | (3.75 ) |
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 ) |
(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 interest expense, if applicable, each of which is less than 0.005% unless otherwise noted. |
72 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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) |
$35.84 | 7.97 % | $243 | 0.80 % | 1.63 % | 0.98 % | 9 % |
35.62 | 7.29 | 173 | 0.80 | 1.69 | 0.93 | 24 |
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 |
35.45 | 8.04 | 19,801 | 0.65 | 1.77 | 0.74 | 9 |
35.27 | 7.45 | 18,118 | 0.65 | 1.87 | 0.74 | 24 |
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 |
35.47 | 8.07 | 4,384,530 | 0.55 | 1.87 | 0.64 | 9 |
35.31 | 7.58 | 4,341,944 | 0.55 | 1.93 | 0.64 | 24 |
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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 73 |
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 |
74 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
Growth Advantage Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Automobiles | $385,464 | $— | $— | $385,464 |
Beverages | 88,081 | — | — | 88,081 |
Biotechnology | 662,599 | — | — | 662,599 |
Broadline Retail | 1,031,036 | — | — | 1,031,036 |
Building Products | 236,623 | — | — | 236,623 |
Capital Markets | 676,194 | — | — | 676,194 |
Commercial Services & Supplies | 176,973 | — | — | 176,973 |
Communications Equipment | 105,150 | — | — | 105,150 |
Construction & Engineering | 286,758 | — | — | 286,758 |
Distributors | 67,018 | — | — | 67,018 |
Electrical Equipment | 253,318 | — | — | 253,318 |
Electronic Equipment, Instruments & Components | 130,773 | — | — | 130,773 |
Energy Equipment & Services | 151,462 | — | — | 151,462 |
Entertainment | 361,627 | — | — | 361,627 |
Financial Services | 564,367 | — | — | 564,367 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 75 |
Growth Advantage Fund (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Ground Transportation | $487,006 | $— | $— | $487,006 |
Health Care Equipment & Supplies | 348,317 | — | — | 348,317 |
Health Care Providers & Services | 443,109 | — | — | 443,109 |
Hotels, Restaurants & Leisure | 320,364 | — | — | 320,364 |
Household Durables | 95,860 | — | — | 95,860 |
Insurance | 156,142 | — | — | 156,142 |
Interactive Media & Services | 1,507,523 | — | — | 1,507,523 |
IT Services | 271,262 | — | — | 271,262 |
Life Sciences Tools & Services | 219,200 | — | — | 219,200 |
Machinery | 158,126 | — | — | 158,126 |
Media | 130,913 | — | — | 130,913 |
Metals & Mining | 63,250 | — | — | 63,250 |
Oil, Gas & Consumable Fuels | 226,346 | — | — | 226,346 |
Pharmaceuticals | 423,964 | — | — | 423,964 |
Professional Services | 129,274 | — | — | 129,274 |
Semiconductors & Semiconductor Equipment | 1,772,703 | — | — | 1,772,703 |
Software | 3,116,664 | — | 15,096 | 3,131,760 |
Specialty Retail | 543,391 | — | — | 543,391 |
Technology Hardware, Storage & Peripherals | 1,196,733 | — | — | 1,196,733 |
Textiles, Apparel & Luxury Goods | 122,919 | — | — | 122,919 |
Trading Companies & Distributors | 58,479 | — | — | 58,479 |
Total Common Stocks | 16,968,988 | — | 15,096 | 16,984,084 |
Short-Term Investments | ||||
Investment Companies | 257,169 | — | — | 257,169 |
Investment of Cash Collateral from Securities Loaned | 26,324 | — | — | 26,324 |
Total Short-Term Investments | 283,493 | — | — | 283,493 |
Total Investments in Securities | $17,252,481 | $— | $15,096 | $17,267,577 |
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) | $4,018,615 | $— | $— | $4,018,615 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Mid Cap Growth Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Aerospace & Defense | $129,034 | $— | $— | $129,034 |
Automobiles | 52,845 | — | — | 52,845 |
Beverages | 52,850 | — | — | 52,850 |
Biotechnology | 547,256 | — | — | 547,256 |
Building Products | 265,638 | — | — | 265,638 |
Capital Markets | 894,653 | — | — | 894,653 |
76 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
Mid Cap Growth Fund (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Commercial Services & Supplies | $386,552 | $— | $— | $386,552 |
Communications Equipment | 60,580 | — | — | 60,580 |
Construction & Engineering | 230,392 | — | — | 230,392 |
Distributors | 102,141 | — | — | 102,141 |
Diversified Consumer Services | 78,153 | — | — | 78,153 |
Electrical Equipment | 182,850 | — | — | 182,850 |
Electronic Equipment, Instruments & Components | 370,690 | — | — | 370,690 |
Energy Equipment & Services | 90,069 | — | — | 90,069 |
Entertainment | 126,376 | — | — | 126,376 |
Financial Services | 155,710 | — | — | 155,710 |
Ground Transportation | 340,032 | — | — | 340,032 |
Health Care Equipment & Supplies | 641,365 | — | — | 641,365 |
Health Care Providers & Services | 272,132 | — | — | 272,132 |
Hotels, Restaurants & Leisure | 596,944 | — | — | 596,944 |
Household Durables | 100,691 | — | — | 100,691 |
Insurance | 79,798 | — | — | 79,798 |
IT Services | 476,409 | — | — | 476,409 |
Life Sciences Tools & Services | 588,441 | — | — | 588,441 |
Machinery | 233,513 | — | — | 233,513 |
Media | 170,611 | — | — | 170,611 |
Metals & Mining | 36,866 | — | — | 36,866 |
Oil, Gas & Consumable Fuels | 301,436 | — | — | 301,436 |
Personal Care Products | 62,656 | — | — | 62,656 |
Pharmaceuticals | 51,652 | — | — | 51,652 |
Professional Services | 195,462 | — | — | 195,462 |
Semiconductors & Semiconductor Equipment | 546,178 | — | — | 546,178 |
Software | 1,097,420 | — | 8,904 | 1,106,324 |
Specialty Retail | 535,980 | — | — | 535,980 |
Textiles, Apparel & Luxury Goods | 92,571 | — | — | 92,571 |
Trading Companies & Distributors | 68,565 | — | — | 68,565 |
Total Common Stocks | 10,214,511 | — | 8,904 | 10,223,415 |
Short-Term Investments | ||||
Investment Companies | 139,743 | — | — | 139,743 |
Investment of Cash Collateral from Securities Loaned | 309,502 | — | — | 309,502 |
Total Short-Term Investments | 449,245 | — | — | 449,245 |
Total Investments in Securities | $10,663,756 | $— | $8,904 | $10,672,660 |
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) | $13,277,898 | $— | $— | $13,277,898 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 77 |
Value Advantage Fund | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $8,938,942 | $— | $— | $8,938,942 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Security | Acquisition Date | Cost | Market Value | Percentage of Funds Net Assets |
Coreweave, Inc. | 11/28/2023 | $15,096 | $15,096 | 0.1 % |
Security | Acquisition Date | Cost | Market Value | Percentage of Funds Net Assets |
Coreweave, Inc. | 11/28/2023 | $8,904 | $8,904 | 0.1 % |
78 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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 | $25,418 | $(25,418 ) | $— |
Mid Cap Equity Fund | 69,077 | (69,077 ) | — |
Mid Cap Growth Fund | 299,746 | (299,746 ) | — |
Mid Cap Value Fund | 92,233 | (92,233 ) | — |
Value Advantage Fund | 63,676 | (63,676 ) | — |
* | Collateral posted reflects the value of securities on loan and does not include any additional amounts received from the borrower. |
Growth Advantage Fund | $4 |
Mid Cap Equity Fund | 2 |
Mid Cap Growth Fund | 7 |
Mid Cap Value Fund | 5 |
Value Advantage Fund | 4 |
Growth Advantage Fund | |||||||||
For the six months ended December 31, 2023 | |||||||||
Security Description | Value at June 30, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at December 31, 2023 | Shares at December 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (a) (b) | $229,015 | $1,644,175 | $1,616,225 | $90 | $114 | $257,169 | 256,963 | $7,653 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (a) (b) | — | 559,001 | 537,000 | 3 * | — (c) | 22,004 | 21,996 | 2,127 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (a) (b) | — | 533,058 | 528,738 | — | — | 4,320 | 4,320 | 380 * | — |
Total | $229,015 | $2,736,234 | $2,681,963 | $93 | $114 | $283,493 | $10,160 | $— |
(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 December 31, 2023. |
(c) | Amount rounds to less than one thousand. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 79 |
Mid Cap Equity Fund | |||||||||
For the six months ended December 31, 2023 | |||||||||
Security Description | Value at June 30, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at December 31, 2023 | Shares at December 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (a) (b) | $124,100 | $334,297 | $365,388 | $20 | $39 | $93,068 | 92,994 | $2,768 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (a) (b) | 43,783 | 292,001 | 273,000 | 13 * | — (c) | 62,797 | 62,772 | 1,293 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (a) (b) | 17,097 | 150,924 | 159,580 | — | — | 8,441 | 8,441 | 194 * | — |
Total | $184,980 | $777,222 | $797,968 | $33 | $39 | $164,306 | $4,255 | $— |
(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 December 31, 2023. |
(c) | Amount rounds to less than one thousand. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Mid Cap Growth Fund | |||||||||
For the six months ended December 31, 2023 | |||||||||
Security Description | Value at June 30, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at December 31, 2023 | Shares at December 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (a) (b) | $128,783 | $926,007 | $915,135 | $34 | $54 | $139,743 | 139,631 | $4,098 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (a) (b) | 137,903 | 866,999 | 728,000 | 39 * | 33 | 276,974 | 276,863 | 5,156 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (a) (b) | 23,086 | 384,969 | 375,527 | — | — | 32,528 | 32,528 | 691 * | — |
Total | $289,772 | $2,177,975 | $2,018,662 | $73 | $87 | $449,245 | $9,945 | $— |
(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 December 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Mid Cap Value Fund | |||||||||
For the six months ended December 31, 2023 | |||||||||
Security Description | Value at June 30, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at December 31, 2023 | Shares at December 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (a) (b) | $251,446 | $1,121,080 | $1,204,330 | $60 | $37 | $168,293 | 168,158 | $6,929 | $— |
80 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
Mid Cap Value Fund (continued) | |||||||||
For the six months ended December 31, 2023 | |||||||||
Security Description | Value at June 30, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at December 31, 2023 | Shares at December 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (a) (b) | $119,975 | $731,000 | $766,000 | $32 * | $4 | $85,011 | 84,977 | $3,369 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (a) (b) | 18,205 | 305,625 | 314,210 | — | — | 9,620 | 9,620 | 482 * | — |
Total | $389,626 | $2,157,705 | $2,284,540 | $92 | $41 | $262,924 | $10,780 | $— |
(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 December 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Value Advantage Fund | |||||||||
For the six months ended December 31, 2023 | |||||||||
Security Description | Value at June 30, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at December 31, 2023 | Shares at December 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.51% (a) (b) | $331,127 | $1,402,020 | $1,647,022 | $73 | $39 | $86,237 | 86,168 | $4,675 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.56% (a) (b) | 31,993 | 459,000 | 433,000 | 19 * | — | 58,012 | 57,989 | 2,229 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.30% (a) (b) | 44,536 | 267,214 | 304,179 | — | — | 7,571 | 7,571 | 348 * | — |
Total | $407,656 | $2,128,234 | $2,384,201 | $92 | $39 | $151,820 | $7,252 | $— |
(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 December 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 81 |
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 | $61 | $23 | $46 | n/a | $2 | $1 | $— (a) | $2 | $58 | $193 |
Mid Cap Equity Fund | ||||||||||
Transfer agency fees | 8 | 1 | 5 | n/a | 1 | n/a | n/a | — (a) | 17 | 32 |
Mid Cap Growth Fund | ||||||||||
Transfer agency fees | 116 | 3 | 10 | n/a | 12 | 2 | 1 | 5 | 70 | 219 |
Mid Cap Value Fund | ||||||||||
Transfer agency fees | 37 | 1 | 16 | $39 | 3 | 1 | — (a) | 1 | 50 | 148 |
Value Advantage Fund | ||||||||||
Transfer agency fees | 30 | 12 | 25 | 11 | — (a) | 1 | — (a) | — (a) | 25 | 104 |
(a) | Amount rounds to less than one thousand. |
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 |
82 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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 | $238 | $— (a) |
Mid Cap Equity Fund | 41 | — (a) |
Mid Cap Growth Fund | 49 | — (a) |
Mid Cap Value Fund | 14 | — |
Value Advantage Fund | 46 | — (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 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 83 |
Class A | Class C | Class I | Class L | Class R2 | Class R3 | Class R4 | Class R5 | Class R6 | |
Growth Advantage Fund | 1.04 % | 1.54 % | 0.79 % | n/a | 1.30 % | 1.05 % | 0.80 % | 0.65 % | 0.55 % |
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 | 1.64 | 0.89 | n/a | 1.45 | 1.20 | 0.95 | 0.79 | 0.70 |
Mid Cap Value Fund | 1.14 | 1.64 | 0.89 | 0.75 % | 1.40 | 1.15 | 0.90 | 0.75 | 0.65 |
Value Advantage Fund | 1.04 | 1.54 | 0.79 | 0.75 | 1.30 | 1.05 | 0.80 | 0.65 | 0.55 |
Contractual Waivers | |||||
Investment Advisory Fees | Administration Fees | Service Fees | Total | Contractual Reimbursements | |
Growth Advantage Fund | $3,859 | $2,571 | $487 | $6,917 | $— |
Mid Cap Equity Fund | 1,201 | 800 | 10 | 2,011 | 11 |
Mid Cap Growth Fund | 1,214 | 807 | 1,211 | 3,232 | — |
Mid Cap Value Fund | 3,368 | 2,238 | 187 | 5,793 | 23 |
Value Advantage Fund | 2,330 | 1,556 | 228 | 4,114 | 25 |
Growth Advantage Fund | $169 |
Mid Cap Equity Fund | 62 |
Mid Cap Growth Fund | 93 |
Mid Cap Value Fund | 162 |
Value Advantage Fund | 118 |
Growth Advantage Fund | $2 |
Mid Cap Equity Fund | 1 |
Mid Cap Growth Fund | 1 |
84 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
Mid Cap Value Fund | $2 |
Value Advantage Fund | 1 |
Brokerage Commissions | |
Growth Advantage Fund | $11 |
Mid Cap Equity Fund | 30 |
Mid Cap Value Fund | 8 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
Growth Advantage Fund | $2,184,920 | $2,463,899 |
Mid Cap Equity Fund | 794,383 | 657,122 |
Mid Cap Growth Fund | 2,233,761 | 2,022,629 |
Mid Cap Value Fund | 658,720 | 1,564,493 |
Value Advantage Fund | 732,328 | 1,327,383 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Growth Advantage Fund | $9,066,005 | $8,293,677 | $92,105 | $8,201,572 |
Mid Cap Equity Fund | 2,955,546 | 1,106,371 | 43,302 | 1,063,069 |
Mid Cap Growth Fund | 7,960,088 | 2,869,036 | 156,464 | 2,712,572 |
Mid Cap Value Fund | 8,126,689 | 5,466,222 | 315,013 | 5,151,209 |
Value Advantage Fund | 5,904,816 | 3,134,697 | 100,571 | 3,034,126 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 85 |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
Growth Advantage Fund | $80,725 | $— |
Mid Cap Growth Fund | 59,087 | 8,489 |
Net Capital Losses (Gains) | Specified Ordinary Losses | Late Year Ordinary Loss Deferral | ||
Short-Term | Long-Term | |||
Growth Advantage Fund | $147,118 | $40,652 | $17,715 | $2,314 |
Mid Cap Equity Fund | 23,247 | 15,066 | 1,387 | — |
Mid Cap Growth Fund | 156,681 | (28,229 ) | 9,937 | 8,703 |
Mid Cap Value Fund | 9,050 | — | — | — |
86 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
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 | 14.4 % | 1 | 24.0 % |
Mid Cap Equity Fund | — | — | 2 | 63.2 |
Mid Cap Growth Fund | — | — | 2 | 29.5 |
Mid Cap Value Fund | — | — | 3 | 42.4 |
Value Advantage Fund | — | — | 2 | 26.6 |
JPMorgan SmartRetirement Funds | |
Growth Advantage Fund | 10.2 % |
Value Advantage Fund | 19.9 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 87 |
Beginning Account Value July 1, 2023 | Ending Account Value December 31, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Growth Advantage Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,095.90 | $5.48 | 1.04 % |
Hypothetical | 1,000.00 | 1,019.91 | 5.28 | 1.04 |
Class C | ||||
Actual | 1,000.00 | 1,093.00 | 8.10 | 1.54 |
Hypothetical | 1,000.00 | 1,017.39 | 7.81 | 1.54 |
Class I | ||||
Actual | 1,000.00 | 1,097.70 | 4.17 | 0.79 |
Hypothetical | 1,000.00 | 1,021.17 | 4.01 | 0.79 |
Class R2 | ||||
Actual | 1,000.00 | 1,095.00 | 6.85 | 1.30 |
Hypothetical | 1,000.00 | 1,018.60 | 6.60 | 1.30 |
Class R3 | ||||
Actual | 1,000.00 | 1,096.10 | 5.53 | 1.05 |
Hypothetical | 1,000.00 | 1,019.86 | 5.33 | 1.05 |
Class R4 | ||||
Actual | 1,000.00 | 1,097.60 | 4.22 | 0.80 |
Hypothetical | 1,000.00 | 1,021.12 | 4.06 | 0.80 |
Class R5 | ||||
Actual | 1,000.00 | 1,098.20 | 3.43 | 0.65 |
Hypothetical | 1,000.00 | 1,021.87 | 3.30 | 0.65 |
Class R6 | ||||
Actual | 1,000.00 | 1,098.90 | 2.90 | 0.55 |
Hypothetical | 1,000.00 | 1,022.37 | 2.80 | 0.55 |
88 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
Beginning Account Value July 1, 2023 | Ending Account Value December 31, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Mid Cap Equity Fund | ||||
Class A | ||||
Actual | $1,000.00 | $1,068.70 | $5.93 | 1.14 % |
Hypothetical | 1,000.00 | 1,019.41 | 5.79 | 1.14 |
Class C | ||||
Actual | 1,000.00 | 1,065.80 | 8.52 | 1.64 |
Hypothetical | 1,000.00 | 1,016.89 | 8.31 | 1.64 |
Class I | ||||
Actual | 1,000.00 | 1,069.90 | 4.63 | 0.89 |
Hypothetical | 1,000.00 | 1,020.66 | 4.52 | 0.89 |
Class R2 | ||||
Actual | 1,000.00 | 1,067.10 | 7.22 | 1.39 |
Hypothetical | 1,000.00 | 1,018.15 | 7.05 | 1.39 |
Class R5 | ||||
Actual | 1,000.00 | 1,070.60 | 3.85 | 0.74 |
Hypothetical | 1,000.00 | 1,021.42 | 3.76 | 0.74 |
Class R6 | ||||
Actual | 1,000.00 | 1,071.30 | 3.33 | 0.64 |
Hypothetical | 1,000.00 | 1,021.92 | 3.25 | 0.64 |
JPMorgan Mid Cap Growth Fund | ||||
Class A | ||||
Actual | 1,000.00 | 1,069.10 | 5.93 | 1.14 |
Hypothetical | 1,000.00 | 1,019.41 | 5.79 | 1.14 |
Class C | ||||
Actual | 1,000.00 | 1,066.10 | 8.52 | 1.64 |
Hypothetical | 1,000.00 | 1,016.89 | 8.31 | 1.64 |
Class I | ||||
Actual | 1,000.00 | 1,070.20 | 4.63 | 0.89 |
Hypothetical | 1,000.00 | 1,020.66 | 4.52 | 0.89 |
Class R2 | ||||
Actual | 1,000.00 | 1,067.60 | 7.54 | 1.45 |
Hypothetical | 1,000.00 | 1,017.85 | 7.35 | 1.45 |
Class R3 | ||||
Actual | 1,000.00 | 1,068.60 | 6.24 | 1.20 |
Hypothetical | 1,000.00 | 1,019.10 | 6.09 | 1.20 |
Class R4 | ||||
Actual | 1,000.00 | 1,070.10 | 4.94 | 0.95 |
Hypothetical | 1,000.00 | 1,020.36 | 4.82 | 0.95 |
Class R5 | ||||
Actual | 1,000.00 | 1,070.90 | 4.11 | 0.79 |
Hypothetical | 1,000.00 | 1,021.17 | 4.01 | 0.79 |
Class R6 | ||||
Actual | 1,000.00 | 1,071.40 | 3.64 | 0.70 |
Hypothetical | 1,000.00 | 1,021.62 | 3.56 | 0.70 |
JPMorgan Mid Cap Value Fund | ||||
Class A | ||||
Actual | 1,000.00 | 1,068.60 | 5.93 | 1.14 |
Hypothetical | 1,000.00 | 1,019.41 | 5.79 | 1.14 |
Class C | ||||
Actual | 1,000.00 | 1,065.80 | 8.52 | 1.64 |
Hypothetical | 1,000.00 | 1,016.89 | 8.31 | 1.64 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 89 |
Beginning Account Value July 1, 2023 | Ending Account Value December 31, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Mid Cap Value Fund (continued) | ||||
Class I | ||||
Actual | $1,000.00 | $1,070.00 | $4.63 | 0.89 % |
Hypothetical | 1,000.00 | 1,020.66 | 4.52 | 0.89 |
Class L | ||||
Actual | 1,000.00 | 1,070.50 | 3.90 | 0.75 |
Hypothetical | 1,000.00 | 1,021.37 | 3.81 | 0.75 |
Class R2 | ||||
Actual | 1,000.00 | 1,067.00 | 7.27 | 1.40 |
Hypothetical | 1,000.00 | 1,018.10 | 7.10 | 1.40 |
Class R3 | ||||
Actual | 1,000.00 | 1,068.50 | 5.98 | 1.15 |
Hypothetical | 1,000.00 | 1,019.36 | 5.84 | 1.15 |
Class R4 | ||||
Actual | 1,000.00 | 1,069.90 | 4.68 | 0.90 |
Hypothetical | 1,000.00 | 1,020.61 | 4.57 | 0.90 |
Class R5 | ||||
Actual | 1,000.00 | 1,070.70 | 3.90 | 0.75 |
Hypothetical | 1,000.00 | 1,021.37 | 3.81 | 0.75 |
Class R6 | ||||
Actual | 1,000.00 | 1,071.00 | 3.38 | 0.65 |
Hypothetical | 1,000.00 | 1,021.87 | 3.30 | 0.65 |
JPMorgan Value Advantage Fund | ||||
Class A | ||||
Actual | 1,000.00 | 1,078.50 | 5.43 | 1.04 |
Hypothetical | 1,000.00 | 1,019.91 | 5.28 | 1.04 |
Class C | ||||
Actual | 1,000.00 | 1,075.70 | 8.04 | 1.54 |
Hypothetical | 1,000.00 | 1,017.39 | 7.81 | 1.54 |
Class I | ||||
Actual | 1,000.00 | 1,079.80 | 4.13 | 0.79 |
Hypothetical | 1,000.00 | 1,021.17 | 4.01 | 0.79 |
Class L | ||||
Actual | 1,000.00 | 1,080.30 | 3.40 | 0.65 |
Hypothetical | 1,000.00 | 1,021.87 | 3.30 | 0.65 |
Class R2 | ||||
Actual | 1,000.00 | 1,077.20 | 6.79 | 1.30 |
Hypothetical | 1,000.00 | 1,018.60 | 6.60 | 1.30 |
Class R3 | ||||
Actual | 1,000.00 | 1,078.20 | 5.49 | 1.05 |
Hypothetical | 1,000.00 | 1,019.86 | 5.33 | 1.05 |
Class R4 | ||||
Actual | 1,000.00 | 1,079.70 | 4.18 | 0.80 |
Hypothetical | 1,000.00 | 1,021.12 | 4.06 | 0.80 |
Class R5 | ||||
Actual | 1,000.00 | 1,080.40 | 3.40 | 0.65 |
Hypothetical | 1,000.00 | 1,021.87 | 3.30 | 0.65 |
Class R6 | ||||
Actual | 1,000.00 | 1,080.70 | 2.88 | 0.55 |
Hypothetical | 1,000.00 | 1,022.37 | 2.80 | 0.55 |
* | Expenses are equal to each Class’ respective annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half year period). |
90 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 91 |
92 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 93 |
94 | J.P. Morgan Mid Cap/Multi-Cap Funds | December 31, 2023 |
December 31, 2023 | J.P. Morgan Mid Cap/Multi-Cap Funds | 95 |
ITEM 2. CODE OF ETHICS.
Not applicable to a semi-annual report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable to a semi-annual report.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable to a semi-annual report.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to a semi-annual report.
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 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 period 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), 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 | ||
March 4, 2024 |
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 | ||
March 4, 2024 | ||
By: | /s/ Timothy J. Clemens | |
Timothy J. Clemens | ||
Treasurer and Principal Financial Officer | ||
March 4, 2024 |