JPMorgan Mid Cap Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2020 (Unaudited)
Investments | Shares (000) | Value ($000) | ||||||
COMMON STOCKS — 97.2% |
| |||||||
Aerospace & Defense — 0.3% |
| |||||||
HEICO Corp., Class A | 66 | 5,836 | ||||||
|
| |||||||
Airlines — 0.4% |
| |||||||
Southwest Airlines Co. | 177 | 6,620 | ||||||
|
| |||||||
Auto Components — 0.3% |
| |||||||
BorgWarner, Inc. | 140 | 5,410 | ||||||
|
| |||||||
Automobiles — 0.3% |
| |||||||
Thor Industries, Inc. | 47 | 4,496 | ||||||
|
| |||||||
Banks — 4.0% |
| |||||||
Citizens Financial Group, Inc. | 346 | 8,740 | ||||||
East West Bancorp, Inc. | 61 | 1,983 | ||||||
Fifth Third Bancorp | 545 | 11,610 | ||||||
First Republic Bank | 108 | 11,813 | ||||||
Huntington Bancshares, Inc. | 689 | 6,319 | ||||||
M&T Bank Corp. | 125 | 11,552 | ||||||
Regions Financial Corp. | 694 | 8,003 | ||||||
TCF Financial Corp. | 222 | 5,190 | ||||||
Zions Bancorp NA | 156 | 4,561 | ||||||
|
| |||||||
69,771 | ||||||||
|
| |||||||
Beverages — 0.8% |
| |||||||
Constellation Brands, Inc., Class A | 49 | 9,374 | ||||||
Keurig Dr Pepper, Inc. | 171 | 4,712 | ||||||
|
| |||||||
14,086 | ||||||||
|
| |||||||
Biotechnology — 2.4% |
| |||||||
Agios Pharmaceuticals, Inc. * | 75 | 2,637 | ||||||
Alnylam Pharmaceuticals, Inc. * | 54 | 7,866 | ||||||
BioMarin Pharmaceutical, Inc. * | 32 | 2,469 | ||||||
Exact Sciences Corp. * | 102 | 10,397 | ||||||
Exelixis, Inc. * | 246 | 6,022 | ||||||
Intercept Pharmaceuticals, Inc. * | 25 | 1,026 | ||||||
Neurocrine Biosciences, Inc. * | 49 | 4,664 | ||||||
Seattle Genetics, Inc. * | 38 | 7,456 | ||||||
|
| |||||||
42,537 | ||||||||
|
| |||||||
Building Products — 2.1% |
| |||||||
Fortune Brands Home & Security, Inc. | 231 | 20,022 | ||||||
Trane Technologies plc | 73 | 8,901 | ||||||
Trex Co., Inc. * | 104 | 7,425 | ||||||
|
| |||||||
36,348 | ||||||||
|
| |||||||
Capital Markets — 5.0% |
| |||||||
Ameriprise Financial, Inc. | 93 | 14,367 | ||||||
Blackstone Group, Inc. (The), Class A | 76 | 3,972 | ||||||
Charles Schwab Corp. (The) | 166 | 6,000 | ||||||
Evercore, Inc., Class A | 58 | 3,777 | ||||||
MarketAxess Holdings, Inc. | 17 | 8,380 | ||||||
MSCI, Inc. | 27 | 9,548 | ||||||
Northern Trust Corp. | 123 | 9,562 | ||||||
Raymond James Financial, Inc. | 141 | 10,225 | ||||||
S&P Global, Inc. | 15 | 5,493 | ||||||
T. Rowe Price Group, Inc. | 108 | 13,819 | ||||||
|
| |||||||
85,143 | ||||||||
|
| |||||||
Chemicals — 1.0% |
| |||||||
Celanese Corp. | 59 | 6,389 | ||||||
Sherwin-Williams Co. (The) | 16 | 11,435 | ||||||
|
| |||||||
17,824 | ||||||||
|
| |||||||
Commercial Services & Supplies — 1.0% |
| |||||||
Copart, Inc. * | 107 | 11,282 | ||||||
Waste Connections, Inc. | 67 | 6,997 | ||||||
|
| |||||||
18,279 | ||||||||
|
| |||||||
Communications Equipment — 0.8% |
| |||||||
CommScope Holding Co., Inc. * | 272 | 2,448 | ||||||
Motorola Solutions, Inc. | 69 | 10,889 | ||||||
|
| |||||||
13,337 | ||||||||
|
| |||||||
Construction Materials — 0.6% |
| |||||||
Martin Marietta Materials, Inc. | 43 | 10,169 | ||||||
|
| |||||||
Consumer Finance — 0.3% |
| |||||||
Discover Financial Services | 101 | 5,807 | ||||||
|
| |||||||
Containers & Packaging — 2.5% |
| |||||||
Ball Corp. | 238 | 19,820 | ||||||
Packaging Corp. of America (a) | 51 | 5,610 | ||||||
Pactiv Evergreen, Inc. * (a) | 213 | 2,705 | ||||||
Silgan Holdings, Inc. | 243 | 8,933 | ||||||
Westrock Co. | 211 | 7,330 | ||||||
|
| |||||||
44,398 | ||||||||
|
| |||||||
Distributors — 0.4% |
| |||||||
Genuine Parts Co. | 69 | 6,613 | ||||||
|
| |||||||
Electric Utilities — 2.2% |
| |||||||
Edison International | 188 | 9,558 | ||||||
Entergy Corp. | 126 | 12,420 | ||||||
Xcel Energy, Inc. | 239 | 16,460 | ||||||
|
| |||||||
38,438 | ||||||||
|
| |||||||
Electrical Equipment — 2.8% |
| |||||||
Acuity Brands, Inc. | 76 | 7,828 | ||||||
AMETEK, Inc. | 179 | 17,749 | ||||||
Generac Holdings, Inc. * | 73 | 14,133 | ||||||
Hubbell, Inc. | 69 | 9,483 | ||||||
|
| |||||||
49,193 | ||||||||
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| |||||||
Electronic Equipment, Instruments & Components — 3.8% |
| |||||||
Amphenol Corp., Class A | 196 | 21,202 | ||||||
CDW Corp. | 84 | 10,016 | ||||||
Keysight Technologies, Inc. * | 159 | 15,726 | ||||||
SYNNEX Corp. | 77 | 10,765 | ||||||
Zebra Technologies Corp., Class A * | 35 | 8,920 | ||||||
|
| |||||||
66,629 | ||||||||
|
| |||||||
Entertainment — 1.3% |
| |||||||
Spotify Technology SA * | 52 | 12,622 | ||||||
Take-Two Interactive Software, Inc. * | 63 | 10,488 | ||||||
|
| |||||||
23,110 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts (REITs) — 4.9% |
| |||||||
American Campus Communities, Inc. | 87 | 3,028 | ||||||
American Homes 4 Rent, Class A | 249 | 7,089 | ||||||
AvalonBay Communities, Inc. | 62 | 9,266 | ||||||
Boston Properties, Inc. | 107 | 8,614 | ||||||
Brixmor Property Group, Inc. | 382 | 4,465 | ||||||
Essex Property Trust, Inc. | 19 | 3,879 | ||||||
Federal Realty Investment Trust | 66 | 4,858 | ||||||
Host Hotels & Resorts, Inc. | 226 | 2,435 | ||||||
JBG SMITH Properties | 118 | 3,149 | ||||||
Kimco Realty Corp. | 393 | 4,424 | ||||||
Outfront Media, Inc. | 172 | 2,498 |
JPMorgan Mid Cap Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2020 (Unaudited) (continued)
Investments | Shares (000) | Value ($000) | ||||||
Rayonier, Inc. | 274 | 7,244 | ||||||
Regency Centers Corp. | 93 | 3,521 | ||||||
Ventas, Inc. | 86 | 3,589 | ||||||
Vornado Realty Trust (a) | 121 | 4,085 | ||||||
Weyerhaeuser Co. | 277 | 7,911 | ||||||
WP Carey, Inc. | 68 | 4,413 | ||||||
|
| |||||||
84,468 | ||||||||
|
| |||||||
Food & Staples Retailing — 0.7% |
| |||||||
Kroger Co. (The) | 267 | 9,056 | ||||||
US Foods Holding Corp. * | 167 | 3,711 | ||||||
|
| |||||||
12,767 | ||||||||
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| |||||||
Food Products — 0.5% |
| |||||||
Post Holdings, Inc. * | 92 | 7,906 | ||||||
|
| |||||||
Gas Utilities — 0.5% |
| |||||||
National Fuel Gas Co. | 225 | 9,137 | ||||||
|
| |||||||
Health Care Equipment & Supplies — 2.8% |
| |||||||
Cooper Cos., Inc. (The) | 21 | 6,962 | ||||||
DexCom, Inc. * | 15 | 6,209 | ||||||
Insulet Corp. * | 42 | 9,825 | ||||||
ResMed, Inc. | 70 | 11,938 | ||||||
Zimmer Biomet Holdings, Inc. | 105 | 14,360 | ||||||
|
| |||||||
49,294 | ||||||||
|
| |||||||
Health Care Providers & Services — 4.4% |
| |||||||
Acadia Healthcare Co., Inc. * | 90 | 2,639 | ||||||
Amedisys, Inc. * | 29 | 6,951 | ||||||
AmerisourceBergen Corp. | 103 | 10,013 | ||||||
Centene Corp. * | 99 | 5,769 | ||||||
Cigna Corp. | 47 | 7,986 | ||||||
Henry Schein, Inc. * | 111 | 6,532 | ||||||
Humana, Inc. | 10 | 4,059 | ||||||
Laboratory Corp. of America Holdings * | 68 | 12,853 | ||||||
McKesson Corp. | 70 | 10,351 | ||||||
Universal Health Services, Inc., Class B | 91 | 9,755 | ||||||
|
| |||||||
76,908 | ||||||||
|
| |||||||
Health Care Technology — 1.4% |
| |||||||
GoodRx Holdings, Inc., Class A * | 26 | 1,440 | ||||||
Teladoc Health, Inc. * (a) | 52 | 11,301 | ||||||
Veeva Systems, Inc., Class A * | 45 | 12,533 | ||||||
|
| |||||||
25,274 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.3% |
| |||||||
Chipotle Mexican Grill, Inc. * | 10 | 12,366 | ||||||
Darden Restaurants, Inc. | 38 | 3,783 | ||||||
Las Vegas Sands Corp. | 130 | 6,070 | ||||||
|
| |||||||
22,219 | ||||||||
|
| |||||||
Household Durables — 2.2% |
| |||||||
Garmin Ltd. | 73 | 6,954 | ||||||
Helen of Troy Ltd. * | 38 | 7,373 | ||||||
Mohawk Industries, Inc. * | 81 | 7,871 | ||||||
Newell Brands, Inc. | 505 | 8,666 | ||||||
NVR, Inc. * | 2 | 6,692 | ||||||
|
| |||||||
37,556 | ||||||||
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| |||||||
Household Products — 0.4% |
| |||||||
Energizer Holdings, Inc. | 167 | 6,542 | ||||||
|
| |||||||
Industrial Conglomerates — 0.9% |
| |||||||
Carlisle Cos., Inc. | 132 | 16,117 | ||||||
|
| |||||||
Insurance — 3.8% |
| |||||||
Alleghany Corp. | 11 | 5,623 | ||||||
Hartford Financial Services Group, Inc. (The) | 245 | 9,037 | ||||||
Lincoln National Corp. | 135 | 4,238 | ||||||
Loews Corp. | 402 | 13,962 | ||||||
Marsh & McLennan Cos., Inc. | 74 | 8,494 | ||||||
Progressive Corp. (The) | 167 | 15,770 | ||||||
Selectquote, Inc. * (a) | 158 | 3,189 | ||||||
WR Berkley Corp. | 109 | 6,694 | ||||||
|
| |||||||
67,007 | ||||||||
|
| |||||||
Interactive Media & Services — 1.0% |
| |||||||
Match Group, Inc. * | 115 | 12,689 | ||||||
Pinterest, Inc., Class A * | 118 | 4,902 | ||||||
|
| |||||||
17,591 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 0.8% |
| |||||||
Booking Holdings, Inc. * | 4 | 5,987 | ||||||
Chewy, Inc., Class A * (a) | 82 | 4,507 | ||||||
Expedia Group, Inc. | 46 | 4,212 | ||||||
|
| |||||||
14,706 | ||||||||
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| |||||||
IT Services — 3.7% |
| |||||||
Booz Allen Hamilton Holding Corp. | 138 | 11,471 | ||||||
FleetCor Technologies, Inc. * | 31 | 7,262 | ||||||
Global Payments, Inc. | 49 | 8,684 | ||||||
Jack Henry & Associates, Inc. | 30 | 4,831 | ||||||
MongoDB, Inc. * (a) | 31 | 7,200 | ||||||
Okta, Inc. * | 49 | 10,504 | ||||||
Snowflake, Inc., Class A * | 10 | 2,610 | ||||||
Square, Inc., Class A * | 36 | 5,917 | ||||||
Twilio, Inc., Class A * (a) | 28 | 6,820 | ||||||
|
| |||||||
65,299 | ||||||||
|
| |||||||
Leisure Products — 0.2% |
| |||||||
Brunswick Corp. | 69 | 4,071 | ||||||
|
| |||||||
Life Sciences Tools & Services — 0.6% |
| |||||||
Mettler-Toledo International, Inc. * | 11 | 10,334 | ||||||
|
| |||||||
Machinery — 4.3% |
| |||||||
IDEX Corp. | 57 | 10,373 | ||||||
Ingersoll Rand, Inc. * | 143 | 5,099 | ||||||
ITT, Inc. | 278 | 16,388 | ||||||
Lincoln Electric Holdings, Inc. | 106 | 9,789 | ||||||
Middleby Corp. (The) * (a) | 106 | 9,527 | ||||||
Nordson Corp. | 34 | 6,512 | ||||||
Snap-on, Inc. | 56 | 8,270 | ||||||
Stanley Black & Decker, Inc. | 56 | 9,008 | ||||||
|
| |||||||
74,966 | ||||||||
|
| |||||||
Media — 1.9% |
| |||||||
Discovery, Inc., Class C * | 482 | 9,452 | ||||||
Liberty Broadband Corp., Class C * | 64 | 9,159 | ||||||
Liberty Media Corp.-Liberty SiriusXM, Class C * | 316 | 10,443 | ||||||
New York Times Co. (The), Class A | 113 | 4,850 | ||||||
|
| |||||||
33,904 | ||||||||
|
| |||||||
Multiline Retail — 0.2% |
| |||||||
Kohl’s Corp. | 146 | 2,713 | ||||||
Nordstrom, Inc. (a) | 119 | 1,422 | ||||||
|
| |||||||
4,135 | ||||||||
|
|
JPMorgan Mid Cap Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2020 (Unaudited) (continued)
Investments | Shares (000) | Value ($000) | ||||||
Multi-Utilities — 1.8% |
| |||||||
CMS Energy Corp. | 207 | 12,733 | ||||||
Sempra Energy | 28 | 3,341 | ||||||
WEC Energy Group, Inc. | 158 | 15,303 | ||||||
|
| |||||||
31,377 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 1.8% |
| |||||||
Cabot Oil & Gas Corp. (a) | 370 | 6,425 | ||||||
Diamondback Energy, Inc. | 313 | 9,422 | ||||||
EQT Corp. | 322 | 4,163 | ||||||
Equitrans Midstream Corp. | 390 | 3,300 | ||||||
Williams Cos., Inc. (The) | 404 | 7,933 | ||||||
|
| |||||||
31,243 | ||||||||
|
| |||||||
Personal Products — 0.0% (b) |
| |||||||
Coty, Inc., Class A | 301 | 812 | ||||||
|
| |||||||
Pharmaceuticals — 1.8% |
| |||||||
Catalent, Inc. * | 85 | 7,243 | ||||||
Horizon Therapeutics plc * | 159 | 12,336 | ||||||
Jazz Pharmaceuticals plc * | 48 | 6,886 | ||||||
Royalty Pharma plc, Class A | 111 | 4,682 | ||||||
|
| |||||||
31,147 | ||||||||
|
| |||||||
Professional Services — 2.2% |
| |||||||
CoStar Group, Inc. * | 12 | 10,348 | ||||||
Equifax, Inc. | 67 | 10,450 | ||||||
FTI Consulting, Inc. * | 61 | 6,491 | ||||||
IHS Markit Ltd. | 145 | 11,372 | ||||||
|
| |||||||
38,661 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.7% |
| |||||||
CBRE Group, Inc., Class A * | 215 | 10,091 | ||||||
Cushman & Wakefield plc * (a) | 210 | 2,211 | ||||||
|
| |||||||
12,302 | ||||||||
|
| |||||||
Road & Rail — 0.7% |
| |||||||
Lyft, Inc., Class A * (a) | 100 | 2,758 | ||||||
Old Dominion Freight Line, Inc. | 52 | 9,410 | ||||||
|
| |||||||
12,168 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 4.8% |
| |||||||
Advanced Micro Devices, Inc. * | 115 | 9,442 | ||||||
Analog Devices, Inc. | 77 | 8,978 | ||||||
Cree, Inc. * (a) | 39 | 2,479 | ||||||
Enphase Energy, Inc. * | 114 | 9,374 | ||||||
Entegris, Inc. | 133 | 9,887 | ||||||
Lam Research Corp. | 22 | 7,349 | ||||||
Microchip Technology, Inc. | 83 | 8,490 | ||||||
SolarEdge Technologies, Inc. * | 50 | 11,988 | ||||||
Teradyne, Inc. | 78 | 6,190 | ||||||
Xilinx, Inc. | 96 | 9,955 | ||||||
|
| |||||||
84,132 | ||||||||
|
| |||||||
Software — 7.4% |
| |||||||
Cadence Design Systems, Inc. * | 110 | 11,687 | ||||||
Coupa Software, Inc. * | 23 | 6,253 | ||||||
Crowdstrike Holdings, Inc., Class A * | 86 | 11,853 | ||||||
DocuSign, Inc. * | 46 | 9,858 | ||||||
HubSpot, Inc. * (a) | 31 | 9,088 | ||||||
RingCentral, Inc., Class A * | 40 | 10,900 | ||||||
ServiceNow, Inc. * | 10 | 4,985 | ||||||
Splunk, Inc. * | 83 | 15,561 | ||||||
Synopsys, Inc. * | 107 | 22,823 | ||||||
Trade Desk, Inc. (The), Class A * | 30 | 15,612 | ||||||
Zscaler, Inc. * | 59 | 8,281 | ||||||
|
| |||||||
126,901 | ||||||||
|
| |||||||
Specialty Retail — 5.7% |
| |||||||
AutoZone, Inc. * | 12 | 13,565 | ||||||
Best Buy Co., Inc. | 124 | 13,748 | ||||||
Burlington Stores, Inc. * (a) | 41 | 8,420 | ||||||
CarMax, Inc. * | 80 | 7,316 | ||||||
Gap, Inc. (The) | 404 | 6,872 | ||||||
National Vision Holdings, Inc. * | 138 | 5,286 | ||||||
O’Reilly Automotive, Inc. * | 44 | 20,194 | ||||||
Tractor Supply Co. | 99 | 14,262 | ||||||
Ulta Beauty, Inc. * | 33 | 7,347 | ||||||
|
| |||||||
97,010 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 1.3% |
| |||||||
Carter’s, Inc. | 54 | 4,698 | ||||||
Lululemon Athletica, Inc. * | 32 | 10,681 | ||||||
Ralph Lauren Corp. | 96 | 6,506 | ||||||
|
| |||||||
21,885 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.2% |
| |||||||
Rocket Cos., Inc., Class A * (a) | 156 | 3,116 | ||||||
|
| |||||||
TOTAL COMMON STOCKS (Cost $1,141,522) |
| 1,694,999 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 4.1% |
| |||||||
INVESTMENT COMPANIES — 2.2% |
| |||||||
JPMorgan Prime Money Market Fund Class IM Shares, 0.23% (c) (d) | 39,668 | 39,696 | ||||||
|
| |||||||
INVESTMENT OF CASH COLLATERAL FROM SECURITIES LOANED — 1.9% |
| |||||||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 0.29% (c) (d) | 27,992 | 27,997 | ||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.06% (c) (d) | 4,343 | 4,343 | ||||||
|
| |||||||
TOTAL INVESTMENT OF CASH COLLATERAL FROM SECURITIES LOANED (Cost $32,343) | 32,340 | |||||||
|
| |||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $72,028) | 72,036 | |||||||
|
| |||||||
Total Investments — 101.3% (Cost $1,213,550) | 1,767,035 | |||||||
Liabilities in Excess of Other Assets — (1.3)% | (23,515 | ) | ||||||
|
| |||||||
Net Assets — 100.0% | 1,743,520 | |||||||
|
|
Percentages indicated are based on net assets.
JPMorgan Mid Cap Equity Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF SEPTEMBER 30, 2020 (Unaudited) (continued)
(a) | The security or a portion of this security is on loan at September 30, 2020. The total value of securities on loan at September 30, 2020 is approximately $31,265,000. |
(b) | Amount rounds to less than 0.1% of net assets. |
(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 September 30, 2020. |
* | Non-income producing security. |
A. Valuation of Investments — Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund’s valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.
J.P. Morgan Investment Management Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values (“NAV”) of the Fund are calculated on a valuation date.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund’s investments are summarized into the three broad levels listed below.
• | Level 1 – Unadjusted inputs using quoted prices in active markets for identical investments. |
• | Level 2 – Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs. |
• | Level 3 – Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s assumptions in determining the fair value of investments). |
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”) (amounts in thousands):
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |||||||||||||
Total Investments in Securities (a) | $ | 1,767,035 | $ | — | $ | — | $ | 1,767,035 | ||||||||
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(a) | Please refer to the SOI for specifics of portfolio holdings. |
B. Investment Transactions with Affiliates — The Fund invested in Underlying Funds which are advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers. Underlying Funds’ distributions may be reinvested into the Underlying Funds. Reinvestment amounts are included in the purchase cost amounts in the table below. Amounts in the table below are in thousands.
For the period ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||
Security Description | Value at June 30, 2020 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at September 30, 2020 | Shares at September 30, 2020 | Dividend Income | Capital Gain Distributions | |||||||||||||||||||||||||||
JPMorgan Prime Money Market Fund Class IM Shares, 0.23% (a) (b) | $ | 40,612 | $ | 147,960 | $ | 148,873 | $ | (4 | ) | $ | 1 | $ | 39,696 | 39,668 | $ | 19 | $ | — | ||||||||||||||||||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 0.29% (a) (b) | — | 54,000 | 26,000 | — | (3 | ) | 27,997 | 27,992 | 10 | — | ||||||||||||||||||||||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, | — | 25,521 | 21,178 | — | — | 4,343 | 4,343 | — | (c) | — | ||||||||||||||||||||||||||
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Total | $ | 40,612 | $ | 227,481 | $ | 196,051 | $ | (4 | ) | $ | (2 | ) | $ | 72,036 | $ | 29 | $ | — | ||||||||||||||||||
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(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 September 30, 2020. |
(c) | Amount rounds to less than one thousand. |