JPMorgan Insurance Trust Global Allocation Portfolio
Schedule of Portfolio Investments as of March 31, 2023
(Unaudited)
THE “UNAUDITED MUTUAL FUNDS HOLDINGS” LIST (“the List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR SALES LITERATURE WITH THE GENERAL PUBLIC. The list is submitted for the general information of the shareholders of the Fund. It is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by a prospectus. The list has been created from the books and records of the Fund. Holdings are available 60 days after the fund’s fiscal quarter, using a trade date accounting convention, by contacting the appropriate service center. The list is subject to change without notice. The list is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. |
JPMorgan Asset Management is the marketing name for the asset management business of J.P. Morgan Chase & Co. |
J.P. Morgan Distribution Services, Inc., member FINRA. |
© J.P. Morgan Chase & Co., 2023. |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — 46.2% | ||
Australia — 0.7% | ||
Ampol Ltd. | — | 2 |
ANZ Group Holdings Ltd. | 1 | 15 |
APA Group | — | 2 |
Aristocrat Leisure Ltd. | — | 4 |
Aurizon Holdings Ltd. | 1 | 3 |
BHP Group Ltd. | 1 | 17 |
BHP Group Ltd. | 5 | 171 |
BlueScope Steel Ltd. | — | 1 |
Brambles Ltd. | 1 | 7 |
Cochlear Ltd. | — | 2 |
Coles Group Ltd. | — | 5 |
Commonwealth Bank of Australia | 1 | 33 |
Dexus, REIT | — | 2 |
Endeavour Group Ltd. | 1 | 5 |
Flutter Entertainment plc * | — | 6 |
Fortescue Metals Group Ltd. | — | 4 |
Glencore plc | 3 | 18 |
Goodman Group, REIT | 1 | 9 |
GPT Group (The), REIT | 1 | 2 |
Insurance Australia Group Ltd. | 1 | 4 |
LendLease Corp. Ltd. | — | 2 |
Lottery Corp. Ltd. (The) | 1 | 2 |
Macquarie Group Ltd. | — | 13 |
Medibank Pvt Ltd. | 2 | 5 |
Mirvac Group, REIT | 3 | 4 |
National Australia Bank Ltd. | 1 | 15 |
Newcrest Mining Ltd. | — | 4 |
Origin Energy Ltd. | 1 | 3 |
QBE Insurance Group Ltd. | 1 | 10 |
Ramsay Health Care Ltd. | — | 3 |
REA Group Ltd. | — | 2 |
Rio Tinto Ltd. | — | 16 |
Rio Tinto plc | 4 | 270 |
Santos Ltd. | 2 | 8 |
South32 Ltd. | 2 | 5 |
Stockland, REIT | 1 | 2 |
Telstra Group Ltd. | 2 | 6 |
Transurban Group | 1 | 7 |
Wesfarmers Ltd. | — | 11 |
Westpac Banking Corp. | 1 | 19 |
Woodside Energy Group Ltd. | 2 | 37 |
Woodside Energy Group Ltd. | 1 | 27 |
Woolworths Group Ltd. | 1 | 14 |
797 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Belgium — 0.1% | ||
Anheuser-Busch InBev SA | — | 10 |
KBC Group NV | 2 | 131 |
141 | ||
Canada — 0.7% | ||
Alimentation Couche-Tard, Inc. | 2 | 95 |
Canadian National Railway Co. | 1 | 143 |
Fairfax Financial Holdings Ltd. | — | 25 |
Toronto-Dominion Bank (The) | 8 | 493 |
756 | ||
China — 0.9% | ||
BOC Hong Kong Holdings Ltd. | 3 | 8 |
Budweiser Brewing Co. APAC Ltd. (a) | 2 | 5 |
NXP Semiconductors NV | 4 | 735 |
Prosus NV * | — | 25 |
Tencent Holdings Ltd. | 3 | 142 |
Wilmar International Ltd. | 1 | 4 |
Xinyi Glass Holdings Ltd. | 1 | 2 |
921 | ||
Denmark — 0.8% | ||
AP Moller - Maersk A/S, Class B | — | 2 |
Carlsberg A/S, Class B | — | 31 |
Coloplast A/S, Class B | 1 | 73 |
DSV A/S | — | 12 |
Genmab A/S * | — | 19 |
Novo Nordisk A/S, Class B | 4 | 637 |
Orsted A/S (a) | — | 11 |
Vestas Wind Systems A/S | 1 | 14 |
799 | ||
Finland — 0.2% | ||
Kone OYJ, Class B | — | 15 |
Nokia OYJ | 3 | 13 |
Nordea Bank Abp | 18 | 188 |
216 | ||
France — 3.3% | ||
Air Liquide SA | 1 | 122 |
Airbus SE | 3 | 358 |
AXA SA | 1 | 21 |
BNP Paribas SA | 1 | 34 |
Capgemini SE | 1 | 120 |
Cie de Saint-Gobain | — | 6 |
Cie Generale des Etablissements Michelin SCA | 5 | 141 |
Dassault Systemes SE | — | 16 |
Engie SA | 1 | 21 |
EssilorLuxottica SA | — | 11 |
Hermes International | — | 12 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
France — continued | ||
Kering SA | — | 26 |
Legrand SA | 2 | 209 |
L'Oreal SA | — | 155 |
LVMH Moet Hennessy Louis Vuitton SE | 1 | 937 |
Pernod Ricard SA | — | 33 |
Safran SA | 2 | 250 |
Societe Generale SA | 1 | 15 |
TotalEnergies SE | 3 | 195 |
Veolia Environnement SA | 1 | 35 |
Vinci SA | 6 | 742 |
3,459 | ||
Germany — 1.3% | ||
adidas AG | 1 | 88 |
Allianz SE (Registered) | 1 | 208 |
BASF SE | — | 8 |
Bayer AG (Registered) | — | 17 |
Carl Zeiss Meditec AG | — | 13 |
Covestro AG (a) | 1 | 18 |
Deutsche Boerse AG | 1 | 72 |
Deutsche Post AG (Registered) | 1 | 39 |
Deutsche Telekom AG (Registered) | 5 | 125 |
Infineon Technologies AG | 1 | 35 |
Mercedes-Benz Group AG | — | 16 |
Merck KGaA | — | 21 |
Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | — | 40 |
RWE AG | 13 | 534 |
SAP SE | — | 41 |
Siemens AG (Registered) | — | 46 |
Symrise AG | — | 12 |
Volkswagen AG (Preference) | — | 18 |
Vonovia SE | — | 5 |
Zalando SE * (a) | — | 11 |
1,367 | ||
Hong Kong — 0.5% | ||
AIA Group Ltd. | 37 | 386 |
CK Asset Holdings Ltd. | 1 | 6 |
CK Infrastructure Holdings Ltd. | 1 | 3 |
CLP Holdings Ltd. | — | 3 |
Hang Lung Properties Ltd. | 2 | 4 |
Hang Seng Bank Ltd. | — | 3 |
HKT Trust & HKT Ltd. | 2 | 2 |
Hong Kong & China Gas Co. Ltd. | 1 | 1 |
Hong Kong Exchanges & Clearing Ltd. | 2 | 84 |
Jardine Matheson Holdings Ltd. | — | 5 |
Link, REIT | 1 | 5 |
MTR Corp. Ltd. | 1 | 5 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Hong Kong — continued | ||
Power Assets Holdings Ltd. | 1 | 3 |
Sun Hung Kai Properties Ltd. | 1 | 14 |
Techtronic Industries Co. Ltd. | 1 | 11 |
WH Group Ltd. (a) | 3 | 2 |
537 | ||
India — 0.5% | ||
HDFC Bank Ltd., ADR | 9 | 568 |
Indonesia — 0.1% | ||
Bank Central Asia Tbk. PT | 162 | 95 |
Telkom Indonesia Persero Tbk. PT | 197 | 53 |
148 | ||
Ireland — 0.0% ^ | ||
CRH plc | — | 6 |
Kingspan Group plc | — | — |
Kingspan Group plc | — | 19 |
25 | ||
Italy — 0.1% | ||
Enel SpA | 4 | 25 |
Ferrari NV | — | 9 |
FinecoBank Banca Fineco SpA | 1 | 19 |
Intesa Sanpaolo SpA | 2 | 6 |
UniCredit SpA | 2 | 28 |
87 | ||
Japan — 3.0% | ||
Aeon Co. Ltd. | — | 2 |
AGC, Inc. | — | 7 |
Ajinomoto Co., Inc. | — | 10 |
Asahi Group Holdings Ltd. | — | 11 |
Asahi Kasei Corp. | 1 | 6 |
Astellas Pharma, Inc. | — | 4 |
Bridgestone Corp. | — | 12 |
Canon, Inc. | — | 4 |
Central Japan Railway Co. | — | 12 |
Chubu Electric Power Co., Inc. | — | 3 |
Chugai Pharmaceutical Co. Ltd. | — | 2 |
CyberAgent, Inc. | — | 2 |
Dai Nippon Printing Co. Ltd. | — | 3 |
Dai-ichi Life Holdings, Inc. | — | 2 |
Daiichi Sankyo Co. Ltd. | 1 | 29 |
Daikin Industries Ltd. | — | 18 |
Daiwa House Industry Co. Ltd. | 1 | 12 |
Denso Corp. | — | 17 |
Dentsu Group, Inc. | — | 7 |
East Japan Railway Co. | — | 11 |
Eisai Co. Ltd. | — | 6 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Japan — continued | ||
ENEOS Holdings, Inc. | 2 | 5 |
FANUC Corp. | 6 | 217 |
Fuji Electric Co. Ltd. | — | 8 |
FUJIFILM Holdings Corp. | — | 5 |
Fujitsu Ltd. | — | 14 |
Hikari Tsushin, Inc. | — | 14 |
Hitachi Ltd. | 1 | 27 |
Honda Motor Co. Ltd. | 1 | 21 |
Hoya Corp. | 5 | 497 |
Ibiden Co. Ltd. | — | 4 |
Inpex Corp. | — | 2 |
ITOCHU Corp. | 1 | 23 |
Japan Airlines Co. Ltd. | — | 4 |
Japan Exchange Group, Inc. | 1 | 6 |
Japan Post Holdings Co. Ltd. | 1 | 6 |
Japan Real Estate Investment Corp., REIT | — | 4 |
Japan Tobacco, Inc. | — | 6 |
Kansai Electric Power Co., Inc. (The) | — | 2 |
Kao Corp. | — | 4 |
KDDI Corp. | 1 | 19 |
Keyence Corp. | 1 | 392 |
Kikkoman Corp. | — | 5 |
Kirin Holdings Co. Ltd. | — | 5 |
Komatsu Ltd. | 1 | 12 |
Konami Group Corp. | — | 5 |
Kubota Corp. | — | 2 |
Kyocera Corp. | — | 10 |
Kyowa Kirin Co. Ltd. | — | 7 |
Lasertec Corp. | — | 18 |
M3, Inc. | — | 3 |
Marubeni Corp. | 1 | 11 |
MINEBEA MITSUMI, Inc. | — | 4 |
MISUMI Group, Inc. | — | 5 |
Mitsubishi Chemical Group Corp. | 1 | 3 |
Mitsubishi Corp. | 1 | 18 |
Mitsubishi Electric Corp. | — | 2 |
Mitsubishi Estate Co. Ltd. | — | 2 |
Mitsubishi Heavy Industries Ltd. | — | 4 |
Mitsubishi UFJ Financial Group, Inc. | 15 | 95 |
Mitsui & Co. Ltd. | — | 9 |
Mitsui Chemicals, Inc. | — | 5 |
Mitsui Fudosan Co. Ltd. | 1 | 9 |
Mitsui OSK Lines Ltd. | — | 8 |
Mizuho Financial Group, Inc. | 1 | 9 |
MonotaRO Co. Ltd. | — | 1 |
Murata Manufacturing Co. Ltd. | — | 18 |
Nexon Co. Ltd. | — | 2 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Japan — continued | ||
NIDEC Corp. | — | 10 |
Nihon M&A Center Holdings, Inc. | — | 1 |
Nintendo Co. Ltd. | 1 | 19 |
Nippon Building Fund, Inc., REIT | — | 4 |
Nippon Express Holdings, Inc. | — | 6 |
Nippon Paint Holdings Co. Ltd. | — | 2 |
Nippon Prologis REIT, Inc., REIT | — | 4 |
Nippon Steel Corp. | — | 5 |
Nippon Telegraph & Telephone Corp. | 4 | 102 |
Nissan Motor Co. Ltd. | — | 1 |
Nissin Foods Holdings Co. Ltd. | — | 9 |
Nitori Holdings Co. Ltd. | — | 12 |
Nitto Denko Corp. | — | 6 |
Nomura Holdings, Inc. | 1 | 2 |
Nomura Research Institute Ltd. | — | 5 |
NTT Data Corp. | — | 1 |
Obayashi Corp. | 1 | 5 |
Odakyu Electric Railway Co. Ltd. | — | 1 |
Olympus Corp. | 1 | 7 |
Ono Pharmaceutical Co. Ltd. | — | 4 |
Oriental Land Co. Ltd. | 1 | 17 |
ORIX Corp. | 1 | 13 |
Otsuka Corp. | — | 7 |
Otsuka Holdings Co. Ltd. | — | 3 |
Panasonic Holdings Corp. | — | 3 |
Rakuten Group, Inc. | — | 1 |
Recruit Holdings Co. Ltd. | 1 | 17 |
Renesas Electronics Corp. * | 1 | 6 |
Rohm Co. Ltd. | — | 8 |
SBI Holdings, Inc. | — | 4 |
Secom Co. Ltd. | — | 6 |
Sekisui House Ltd. | — | 4 |
Seven & i Holdings Co. Ltd. | 1 | 23 |
Shimadzu Corp. | — | 6 |
Shin-Etsu Chemical Co. Ltd. | 19 | 601 |
Shionogi & Co. Ltd. | — | 9 |
Shiseido Co. Ltd. | — | 9 |
SoftBank Corp. | 1 | 6 |
SoftBank Group Corp. | 1 | 16 |
Sompo Holdings, Inc. | — | 4 |
Sony Group Corp. | 2 | 164 |
Square Enix Holdings Co. Ltd. | — | 5 |
SUMCO Corp. | — | 3 |
Sumitomo Corp. | — | 2 |
Sumitomo Electric Industries Ltd. | 1 | 8 |
Sumitomo Metal Mining Co. Ltd. | — | 8 |
Sumitomo Mitsui Financial Group, Inc. | 1 | 28 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Japan — continued | ||
Sumitomo Mitsui Trust Holdings, Inc. | — | 7 |
Sumitomo Realty & Development Co. Ltd. | — | 2 |
Suntory Beverage & Food Ltd. | — | 4 |
Suzuki Motor Corp. | — | 7 |
T&D Holdings, Inc. | 1 | 9 |
Taisei Corp. | — | 6 |
Takeda Pharmaceutical Co. Ltd. | 1 | 20 |
TDK Corp. | — | 4 |
Terumo Corp. | 1 | 11 |
Tokio Marine Holdings, Inc. | 4 | 79 |
Tokyo Electric Power Co. Holdings, Inc. * | — | 1 |
Tokyo Electron Ltd. | — | 37 |
Tokyo Gas Co. Ltd. | — | 6 |
Toppan, Inc. | — | 2 |
Toshiba Corp. | — | 3 |
TOTO Ltd. | — | 3 |
Toyota Industries Corp. | — | 11 |
Toyota Motor Corp. | 4 | 53 |
Toyota Tsusho Corp. | — | 4 |
Unicharm Corp. | — | 12 |
Yamato Holdings Co. Ltd. | — | 7 |
Z Holdings Corp. | 1 | 2 |
ZOZO, Inc. | — | 2 |
3,211 | ||
Macau — 0.0% ^ | ||
Sands China Ltd. * | 2 | 7 |
Mexico — 0.1% | ||
Wal-Mart de Mexico SAB de CV | 17 | 67 |
Netherlands — 1.2% | ||
Adyen NV * (a) | — | 17 |
Argenx SE * | — | 4 |
ASML Holding NV | 1 | 701 |
Heineken NV | — | 5 |
ING Groep NV | 1 | 9 |
Koninklijke Ahold Delhaize NV | 1 | 22 |
Koninklijke DSM NV | — | 31 |
Koninklijke KPN NV | 8 | 27 |
Koninklijke Philips NV | — | 7 |
NN Group NV | 1 | 24 |
Shell plc | 12 | 336 |
Universal Music Group NV | — | 8 |
Wolters Kluwer NV | — | 28 |
1,219 | ||
New Zealand — 0.0% ^ | ||
Xero Ltd. * | — | 3 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Singapore — 0.2% | ||
CapitaLand Integrated Commercial Trust, REIT | 3 | 4 |
Capitaland Investment Ltd. | 2 | 4 |
DBS Group Holdings Ltd. | 6 | 162 |
Oversea-Chinese Banking Corp. Ltd. | 1 | 9 |
Sea Ltd., ADR * | — | 9 |
Singapore Exchange Ltd. | — | 4 |
Singapore Technologies Engineering Ltd. | 1 | 2 |
Singapore Telecommunications Ltd. | 1 | 1 |
United Overseas Bank Ltd. | — | 9 |
204 | ||
South Africa — 0.1% | ||
Anglo American plc | 2 | 78 |
South Korea — 0.2% | ||
Delivery Hero SE * (a) | — | 8 |
Samsung Electronics Co. Ltd. | 4 | 194 |
202 | ||
Spain — 0.3% | ||
Banco Bilbao Vizcaya Argentaria SA | 6 | 45 |
Banco Santander SA | 4 | 13 |
Cellnex Telecom SA (a) | — | 16 |
Iberdrola SA | 14 | 178 |
Industria de Diseno Textil SA | 1 | 29 |
281 | ||
Sweden — 0.7% | ||
Assa Abloy AB, Class B | — | 7 |
Atlas Copco AB, Class A | 11 | 132 |
Boliden AB | — | 16 |
Investor AB, Class B | 1 | 12 |
Sandvik AB | — | 5 |
SKF AB, Class B | — | 8 |
Volvo AB, Class B | 27 | 550 |
730 | ||
Switzerland — 0.3% | ||
ABB Ltd. (Registered) | 1 | 20 |
Adecco Group AG (Registered) | — | 5 |
Alcon, Inc. | — | 5 |
Cie Financiere Richemont SA (Registered) | — | 23 |
Givaudan SA (Registered) | — | 7 |
Julius Baer Group Ltd. | — | 14 |
Lonza Group AG (Registered) | — | 54 |
Novartis AG (Registered) | 1 | 88 |
Partners Group Holding AG | — | 5 |
SGS SA (Registered) | — | 22 |
Sika AG (Registered) | — | 46 |
Straumann Holding AG (Registered) | — | 5 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
Switzerland — continued | ||
UBS Group AG (Registered) | 1 | 19 |
Zurich Insurance Group AG | — | 39 |
352 | ||
Taiwan — 0.8% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 9 | 822 |
United Kingdom — 2.0% | ||
3i Group plc | 4 | 81 |
Ashtead Group plc | — | 4 |
AstraZeneca plc | 5 | 702 |
BAE Systems plc | 1 | 13 |
Barclays plc | 19 | 34 |
Berkeley Group Holdings plc | 1 | 22 |
BP plc | 88 | 553 |
CK Hutchison Holdings Ltd. | 1 | 6 |
Compass Group plc | 1 | 11 |
DCC plc | — | 14 |
Diageo plc | 4 | 196 |
Intertek Group plc | — | 14 |
Lloyds Banking Group plc | 150 | 88 |
London Stock Exchange Group plc | — | 2 |
Next plc | — | 15 |
Reckitt Benckiser Group plc | 1 | 33 |
RELX plc | 6 | 182 |
SSE plc | 1 | 19 |
Standard Chartered plc | 4 | 30 |
TechnipFMC plc * | 2 | 32 |
Tesco plc | 6 | 21 |
Unilever plc | — | 19 |
Unilever plc | — | 21 |
2,112 | ||
United States — 28.1% | ||
AbbVie, Inc. | 5 | 825 |
Advanced Micro Devices, Inc. * | 4 | 341 |
AECOM | 1 | 34 |
Albertsons Cos., Inc., Class A | 1 | 17 |
Alnylam Pharmaceuticals, Inc. * | — | 47 |
Alphabet, Inc., Class C * | 3 | 272 |
Amazon.com, Inc. * | 17 | 1,697 |
American Electric Power Co., Inc. | — | 15 |
American Express Co. | — | 25 |
American Homes 4 Rent, Class A, REIT | 1 | 25 |
AmerisourceBergen Corp. | — | 45 |
AMETEK, Inc. | 1 | 71 |
Amgen, Inc. | — | 38 |
Analog Devices, Inc. | 3 | 482 |
Apple Hospitality REIT, Inc., REIT | 1 | 13 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
United States — continued | ||
Apple, Inc. (b) | 8 | 1,326 |
Arista Networks, Inc. * | — | 30 |
AutoZone, Inc. * | — | 39 |
Axalta Coating Systems Ltd. * | 1 | 17 |
Baker Hughes Co. | 7 | 198 |
Bank of America Corp. | 22 | 621 |
Bath & Body Works, Inc. | 1 | 16 |
BellRing Brands, Inc. * | — | 13 |
Berkshire Hathaway, Inc., Class B * | — | 86 |
Best Buy Co., Inc. | — | 13 |
Blackstone, Inc. | 1 | 66 |
Booking Holdings, Inc. * | — | 541 |
Boston Scientific Corp. * | 5 | 245 |
Bristol-Myers Squibb Co. | 9 | 635 |
Brixmor Property Group, Inc., REIT | 1 | 22 |
Burlington Stores, Inc. * | — | 48 |
Cadence Design Systems, Inc. * | — | 36 |
Capital One Financial Corp. | 1 | 64 |
Carlisle Cos., Inc. | — | 18 |
CBRE Group, Inc., Class A * | — | 26 |
Charles Schwab Corp. (The) | 3 | 171 |
Charter Communications, Inc., Class A * | 1 | 256 |
Cheniere Energy, Inc. | — | 53 |
Chevron Corp. | 3 | 530 |
Chubb Ltd. | — | 26 |
Cigna Group (The) | — | 17 |
Citigroup, Inc. | — | 17 |
Citizens Financial Group, Inc. | 1 | 30 |
CME Group, Inc. | 4 | 651 |
CNA Financial Corp. | — | 10 |
Coca-Cola Co. (The) | 11 | 680 |
Columbia Sportswear Co. | — | 8 |
CommScope Holding Co., Inc. * | 1 | 4 |
Computershare Ltd. | — | 2 |
Confluent, Inc., Class A * | 2 | 38 |
ConocoPhillips | 4 | 376 |
Constellation Brands, Inc., Class A | — | 37 |
Cooper Cos., Inc. (The) | — | 58 |
Copart, Inc. * | 1 | 84 |
Coterra Energy, Inc. | 1 | 14 |
Crowdstrike Holdings, Inc., Class A * | — | 33 |
CSL Ltd. | — | 33 |
Cullen/Frost Bankers, Inc. | — | 6 |
CVS Health Corp. | — | 25 |
Dexcom, Inc. * | 1 | 58 |
Dick's Sporting Goods, Inc. | — | 20 |
Dollar General Corp. | — | 11 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
United States — continued | ||
Dover Corp. | — | 38 |
Dow, Inc. | 5 | 279 |
EastGroup Properties, Inc., REIT | — | 9 |
Eaton Corp. plc | 1 | 136 |
Elanco Animal Health, Inc. * | 1 | 9 |
Eli Lilly & Co. | — | 43 |
Energizer Holdings, Inc. | 1 | 15 |
Entegris, Inc. | 1 | 36 |
Entergy Corp. | — | 15 |
EOG Resources, Inc. | 1 | 95 |
Equifax, Inc. | — | 38 |
Estee Lauder Cos., Inc. (The), Class A | — | 47 |
Exact Sciences Corp. * | 1 | 49 |
Experian plc | — | 4 |
Federal Realty Investment Trust, REIT | — | 20 |
FedEx Corp. | — | 28 |
Ferguson plc | 1 | 81 |
First Citizens BancShares, Inc., Class A | — | 16 |
FleetCor Technologies, Inc. * | — | 24 |
Fortune Brands Innovations, Inc. | — | 20 |
Freeport-McMoRan, Inc. | 1 | 42 |
Garmin Ltd. | — | 34 |
General Dynamics Corp. | — | 26 |
Globant SA * | — | 6 |
GSK plc | 1 | 19 |
Hartford Financial Services Group, Inc. (The) | — | 18 |
HashiCorp, Inc., Class A * | 1 | 23 |
HCA Healthcare, Inc. | — | 32 |
Hilton Worldwide Holdings, Inc. | 1 | 64 |
Home Depot, Inc. (The) | — | 19 |
Honeywell International, Inc. | — | 24 |
Hubbell, Inc. | — | 53 |
HubSpot, Inc. * | — | 48 |
IAC, Inc. * | — | 19 |
Ingersoll Rand, Inc. | 1 | 54 |
Insulet Corp. * | — | 47 |
International Business Machines Corp. | — | 18 |
Intuit, Inc. | 1 | 591 |
Intuitive Surgical, Inc. * | 1 | 273 |
ITT, Inc. | — | 11 |
Jabil, Inc. | 1 | 36 |
James Hardie Industries plc, CHDI | — | 4 |
JBG SMITH Properties, REIT | 1 | 8 |
Johnson & Johnson | — | 49 |
Keurig Dr Pepper, Inc. | 1 | 20 |
Keysight Technologies, Inc. * | — | 29 |
Kimco Realty Corp., REIT | 2 | 32 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
United States — continued | ||
Kinder Morgan, Inc. | 2 | 33 |
Kraft Heinz Co. (The) | 1 | 31 |
Laboratory Corp. of America Holdings | — | 25 |
Lam Research Corp. | — | 47 |
Lamar Advertising Co., Class A, REIT | — | 20 |
Leidos Holdings, Inc. | — | 16 |
Liberty Broadband Corp., Class C * | — | 23 |
Liberty Media Corp.-Liberty SiriusXM, Class C * | 1 | 20 |
Linde plc | — | 105 |
Loews Corp. | 1 | 55 |
Lowe's Cos., Inc. | — | 76 |
M&T Bank Corp. | 1 | 55 |
Marriott International, Inc., Class A | 4 | 579 |
Martin Marietta Materials, Inc. | — | 37 |
Marvell Technology, Inc. | 1 | 32 |
Mastercard, Inc., Class A (b) | 3 | 895 |
McDonald's Corp. | 1 | 262 |
Medtronic plc | — | 15 |
Merck & Co., Inc. | — | 23 |
Meta Platforms, Inc., Class A * | 4 | 797 |
Mettler-Toledo International, Inc. * | — | 35 |
MGIC Investment Corp. | 1 | 14 |
Microsoft Corp. (b) | 8 | 2,399 |
Mid-America Apartment Communities, Inc., REIT | — | 27 |
Middleby Corp. (The) * | — | 16 |
Mohawk Industries, Inc. * | — | 21 |
MongoDB, Inc. * | — | 53 |
Morgan Stanley | 1 | 83 |
Murphy USA, Inc. | — | 15 |
Natera, Inc. * | 1 | 26 |
Nestle SA (Registered) | 3 | 388 |
Newell Brands, Inc. | 1 | 16 |
Nexstar Media Group, Inc. | — | 10 |
NextEra Energy, Inc. | 5 | 372 |
NIKE, Inc., Class B | 1 | 117 |
Norfolk Southern Corp. | — | 8 |
Northern Trust Corp. | — | 20 |
Northrop Grumman Corp. | — | 17 |
NVIDIA Corp. | 1 | 256 |
Old Dominion Freight Line, Inc. | — | 31 |
Oracle Corp. | — | 35 |
Packaging Corp. of America | — | 32 |
Palo Alto Networks, Inc. * | 1 | 93 |
PG&E Corp. * | 2 | 23 |
Philip Morris International, Inc. | — | 26 |
Phillips 66 | — | 29 |
PNC Financial Services Group, Inc. (The) | — | 42 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
United States — continued | ||
Post Holdings, Inc. * | — | 27 |
Procter & Gamble Co. (The) | — | 36 |
Progressive Corp. (The) | 2 | 264 |
Prologis, Inc., REIT | 5 | 556 |
Public Service Enterprise Group, Inc. | — | 16 |
Public Storage, REIT | — | 28 |
QUALCOMM, Inc. | 1 | 68 |
Quanta Services, Inc. | 1 | 115 |
Ralph Lauren Corp. | — | 22 |
Rayonier, Inc., REIT | 1 | 23 |
Raytheon Technologies Corp. | — | 38 |
Regeneron Pharmaceuticals, Inc. * | 1 | 560 |
Roche Holding AG | 1 | 210 |
Ross Stores, Inc. | 4 | 394 |
Royalty Pharma plc, Class A | 1 | 42 |
S&P Global, Inc. | 1 | 427 |
Sanofi | — | 41 |
Schneider Electric SE | 1 | 128 |
ServiceNow, Inc. * | — | 69 |
SolarEdge Technologies, Inc. * | — | 56 |
Stellantis NV | 2 | 34 |
Stellantis NV | 14 | 248 |
Sun Communities, Inc., REIT | 1 | 136 |
Synopsys, Inc. * | — | 35 |
Sysco Corp. | — | 14 |
T. Rowe Price Group, Inc. | — | 16 |
Target Corp. | — | 14 |
TD SYNNEX Corp. | — | 17 |
Teradyne, Inc. | 2 | 223 |
Tesla, Inc. * | 2 | 333 |
Texas Instruments, Inc. | — | 36 |
Texas Roadhouse, Inc. | — | 14 |
Thermo Fisher Scientific, Inc. | — | 71 |
Timken Co. (The) | — | 16 |
T-Mobile US, Inc. * | 1 | 147 |
Toro Co. (The) | — | 29 |
Tractor Supply Co. | — | 50 |
Trade Desk, Inc. (The), Class A * | 1 | 56 |
Trane Technologies plc | 1 | 234 |
Travelers Cos., Inc. (The) | — | 33 |
Truist Financial Corp. | 3 | 112 |
Uber Technologies, Inc. * | 18 | 569 |
Union Pacific Corp. | 2 | 353 |
United Parcel Service, Inc., Class B | 3 | 584 |
UnitedHealth Group, Inc. | 2 | 1,027 |
US Bancorp | 3 | 122 |
Verizon Communications, Inc. | 1 | 39 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Common Stocks — continued | ||
United States — continued | ||
Vertex Pharmaceuticals, Inc. * | — | 21 |
Vulcan Materials Co. | — | 10 |
Wells Fargo & Co. | 2 | 60 |
Welltower, Inc., REIT | — | 11 |
WestRock Co. | 1 | 13 |
Weyerhaeuser Co., REIT | 1 | 38 |
Williams Cos., Inc. (The) | 1 | 29 |
Wolfspeed, Inc. * | — | 19 |
Workday, Inc., Class A * | — | 43 |
Xcel Energy, Inc. | — | 26 |
Yum! Brands, Inc. | 3 | 332 |
Zebra Technologies Corp., Class A * | — | 45 |
Zoom Video Communications, Inc., Class A * | 1 | 35 |
29,570 | ||
Total Common Stocks (Cost $35,513) | 48,679 | |
Investment Companies — 37.9% | ||
United States — 37.9% | ||
JPMorgan Large Cap Value Fund, Class R6 Shares (c) | 127 | 2,294 |
JPMorgan Income Fund, Class R6 Shares (c) | 586 | 4,855 |
JPMorgan Emerging Markets Equity Fund, Class R6 Shares (c) | 169 | 4,984 |
JPMorgan Corporate Bond Fund, Class R6 Shares (c) | 3,327 | 27,782 |
Total Investment Companies (Cost $39,558) | 39,915 | |
INVESTMENTS | PRINCIPAL AMOUNT ($000) | |
Foreign Government Securities — 13.0% | ||
Australia — 0.3% | ||
Commonwealth of Australia | ||
3.25%, 4/21/2025 (a) | AUD 100 | 67 |
2.75%, 11/21/2029 (a) | AUD 135 | 88 |
1.00%, 12/21/2030 (a) | AUD 3 | 2 |
1.00%, 11/21/2031 (a) | AUD 272 | 151 |
3.75%, 4/21/2037 (a) | AUD 20 | 14 |
2.75%, 5/21/2041 (a) | AUD 26 | 15 |
3.00%, 3/21/2047 (a) | AUD 19 | 11 |
1.75%, 6/21/2051 (a) | AUD 15 | 6 |
354 | ||
Belgium — 0.3% | ||
Kingdom of Belgium | ||
0.80%, 6/22/2027 (a) | EUR 60 | 60 |
0.90%, 6/22/2029 (a) | EUR 20 | 19 |
0.10%, 6/22/2030 (a) | EUR 102 | 92 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Foreign Government Securities — continued | ||
Belgium — continued | ||
3.00%, 6/22/2034 (a) | EUR 49 | 52 |
1.90%, 6/22/2038 (a) | EUR 50 | 46 |
0.40%, 6/22/2040 (a) | EUR 20 | 14 |
1.60%, 6/22/2047 (a) | EUR 21 | 16 |
1.70%, 6/22/2050 (a) | EUR 24 | 19 |
2.15%, 6/22/2066 (a) | EUR 22 | 18 |
336 | ||
Canada — 0.7% | ||
Canada Government Bond | ||
0.50%, 9/1/2025 | CAD 105 | 72 |
0.25%, 3/1/2026 | CAD 119 | 80 |
1.50%, 12/1/2031 | CAD 82 | 54 |
4.00%, 6/1/2041 | CAD 10 | 8 |
2.75%, 12/1/2048 | CAD 19 | 13 |
1.75%, 12/1/2053 | CAD 43 | 24 |
2.75%, 12/1/2064 | CAD 43 | 30 |
Canada Housing Trust 1.25%, 6/15/2026 (d) | CAD 100 | 69 |
Province of Alberta | ||
2.90%, 12/1/2028 | CAD 55 | 40 |
1.65%, 6/1/2031 | CAD 130 | 83 |
Province of British Columbia | ||
4.70%, 6/18/2037 | CAD 25 | 20 |
2.95%, 6/18/2050 | CAD 10 | 6 |
Province of Ontario | ||
2.30%, 9/8/2024 | CAD 80 | 58 |
0.01%, 11/25/2030 (a) | EUR 170 | 144 |
701 | ||
China — 0.1% | ||
Export-Import Bank of China (The) 0.75%, 5/28/2023 (a) | EUR 100 | 108 |
Denmark — 0.1% | ||
Kingdom of Denmark | ||
1.75%, 11/15/2025 | DKK 28 | 4 |
0.50%, 11/15/2027 | DKK 10 | 1 |
0.50%, 11/15/2029 | DKK 36 | 5 |
0.00%, 11/15/2031 | DKK 110 | 13 |
4.50%, 11/15/2039 | DKK 173 | 31 |
0.25%, 11/15/2052 | DKK 60 | 5 |
59 | ||
France — 1.4% | ||
French Republic | ||
0.50%, 5/25/2025 (a) | EUR 40 | 41 |
0.25%, 11/25/2026 (a) | EUR 371 | 369 |
5.50%, 4/25/2029 (a) | EUR 180 | 226 |
0.00%, 11/25/2030 (a) | EUR 25 | 22 |
0.00%, 11/25/2031 (a) | EUR 340 | 292 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Foreign Government Securities — continued | ||
France — continued | ||
1.25%, 5/25/2034 (a) | EUR 285 | 259 |
3.25%, 5/25/2045 (a) | EUR 71 | 78 |
2.00%, 5/25/2048 (a) | EUR 47 | 40 |
1.50%, 5/25/2050 (a) | EUR 48 | 36 |
0.75%, 5/25/2052 (a) | EUR 29 | 17 |
0.75%, 5/25/2053 (a) | EUR 28 | 16 |
4.00%, 4/25/2055 (a) | EUR 91 | 113 |
1.75%, 5/25/2066 (a) | EUR 24 | 17 |
1,526 | ||
Germany — 0.8% | ||
Bundesrepublik Deutschland | ||
0.00%, 8/15/2031 (a) | EUR 287 | 258 |
1.70%, 8/15/2032 (a) | EUR 277 | 286 |
0.00%, 5/15/2035 (a) | EUR 233 | 190 |
2.50%, 8/15/2046 (a) | EUR 65 | 72 |
1.25%, 8/15/2048 (a) | EUR 51 | 44 |
0.00%, 8/15/2050 (a) | EUR 75 | 44 |
894 | ||
Italy — 1.7% | ||
Buoni Poliennali del Tesoro | ||
0.00%, 1/15/2024 (a) | EUR 45 | 47 |
0.35%, 1/31/2025 (a) | EUR 6 | 6 |
0.35%, 2/1/2025 (a) | EUR 277 | 285 |
1.85%, 7/1/2025 (a) | EUR 71 | 75 |
0.50%, 2/1/2026 (a) | EUR 47 | 47 |
1.60%, 6/1/2026 (a) | EUR 183 | 188 |
3.10%, 9/15/2026 (a) | EUR 190 | 223 |
2.80%, 12/1/2028 (a) | EUR 216 | 225 |
3.00%, 8/1/2029 (a) | EUR 73 | 76 |
0.95%, 12/1/2031 (a) | EUR 305 | 259 |
2.25%, 9/1/2036 (a) | EUR 115 | 100 |
4.00%, 2/1/2037 (a) | EUR 29 | 31 |
3.25%, 3/1/2038 (a) | EUR 54 | 52 |
4.75%, 9/1/2044 (a) | EUR 30 | 34 |
1.50%, 4/29/2045 (a) | EUR 58 | 38 |
2.15%, 9/1/2052 (a) | EUR 90 | 63 |
2.80%, 3/1/2067 (a) | EUR 14 | 11 |
1,760 | ||
Japan — 4.9% | ||
Japan Bank for International Cooperation 4.25%, 1/26/2026 | 200 | 200 |
Japan Government Bond | ||
0.10%, 12/20/2024 | JPY 27,450 | 207 |
0.01%, 3/20/2026 | JPY 84,950 | 641 |
0.01%, 12/20/2026 | JPY 18,650 | 141 |
0.10%, 12/20/2026 | JPY 37,450 | 283 |
0.10%, 9/20/2027 | JPY 8,700 | 66 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Foreign Government Securities — continued | ||
Japan — continued | ||
0.10%, 12/20/2027 | JPY 32,700 | 247 |
0.10%, 6/20/2029 | JPY 29,650 | 222 |
0.10%, 12/20/2029 | JPY 51,050 | 382 |
1.70%, 6/20/2033 | JPY 6,900 | 59 |
1.70%, 9/20/2033 | JPY 51,950 | 440 |
1.50%, 3/20/2034 | JPY 5,250 | 44 |
1.20%, 12/20/2034 | JPY 7,200 | 58 |
1.30%, 6/20/2035 | JPY 7,000 | 57 |
1.20%, 9/20/2035 | JPY 7,000 | 56 |
1.00%, 12/20/2035 | JPY 7,000 | 55 |
0.40%, 3/20/2036 | JPY 7,000 | 51 |
0.60%, 12/20/2037 | JPY 20,350 | 150 |
2.50%, 3/20/2038 | JPY 27,750 | 259 |
0.30%, 12/20/2039 | JPY 68,250 | 466 |
0.50%, 12/20/2041 | JPY 13,200 | 91 |
1.70%, 9/20/2044 | JPY 25,450 | 214 |
1.40%, 12/20/2045 | JPY 18,650 | 148 |
0.80%, 3/20/2047 | JPY 18,500 | 129 |
0.70%, 12/20/2048 | JPY 250 | 2 |
0.40%, 9/20/2049 | JPY 8,000 | 49 |
0.40%, 12/20/2049 | JPY 26,800 | 164 |
0.40%, 3/20/2056 | JPY 15,600 | 89 |
0.90%, 3/20/2057 | JPY 23,550 | 157 |
5,127 | ||
Netherlands — 0.2% | ||
Kingdom of Netherlands | ||
2.50%, 1/15/2033 (a) | EUR 60 | 64 |
4.00%, 1/15/2037 (a) | EUR 52 | 64 |
0.50%, 1/15/2040 (a) | EUR 48 | 37 |
2.75%, 1/15/2047 (a) | EUR 10 | 11 |
0.00%, 1/15/2052 (a) | EUR 18 | 10 |
186 | ||
Qatar — 0.2% | ||
State of Qatar 3.88%, 4/23/2023 (d) | 200 | 200 |
South Korea — 0.4% | ||
Export-Import Bank of Korea | ||
0.38%, 3/26/2024 (a) | EUR 100 | 105 |
0.00%, 10/19/2024 (a) | EUR 270 | 277 |
382 | ||
Spain — 1.1% | ||
Bonos and Obligaciones del Estado | ||
4.80%, 1/31/2024 (a) | EUR 40 | 44 |
4.65%, 7/30/2025 (a) | EUR 165 | 186 |
0.00%, 1/31/2027 | EUR 265 | 257 |
1.40%, 7/30/2028 (a) | EUR 103 | 103 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Foreign Government Securities — continued | ||
Spain — continued | ||
1.45%, 4/30/2029 (a) | EUR 81 | 81 |
2.55%, 10/31/2032 (a) | EUR 177 | 181 |
1.85%, 7/30/2035 (a) | EUR 25 | 23 |
4.20%, 1/31/2037 (a) | EUR 127 | 147 |
1.20%, 10/31/2040 (a) | EUR 48 | 35 |
1.00%, 7/30/2042 (a) | EUR 25 | 17 |
2.70%, 10/31/2048 (a) | EUR 15 | 13 |
3.45%, 7/30/2066 (a) | EUR 33 | 33 |
1.45%, 10/31/2071 (a) | EUR 10 | 5 |
1,125 | ||
Sweden — 0.0% ^ | ||
Kingdom of Sweden | ||
2.50%, 5/12/2025 (a) | SEK 90 | 9 |
0.75%, 5/12/2028 (a) | SEK 270 | 24 |
0.75%, 11/12/2029 (a) | SEK 40 | 3 |
2.25%, 6/1/2032 (a) | SEK 95 | 9 |
3.50%, 3/30/2039 (a) | SEK 50 | 6 |
51 | ||
United Kingdom — 0.8% | ||
United Kingdom of Great Britain and Northern Ireland | ||
2.00%, 9/7/2025 (a) | GBP 10 | 12 |
0.50%, 1/31/2029 (a) | GBP 140 | 145 |
0.25%, 7/31/2031 (a) | GBP 45 | 43 |
1.00%, 1/31/2032 (a) | GBP 63 | 63 |
0.88%, 7/31/2033 (a) | GBP 48 | 46 |
0.63%, 7/31/2035 (a) | GBP 8 | 7 |
1.75%, 9/7/2037 (a) | GBP 45 | 43 |
1.13%, 1/31/2039 (a) | GBP 25 | 21 |
4.25%, 12/7/2040 (a) | GBP 35 | 45 |
1.25%, 10/22/2041 (a) | GBP 48 | 39 |
4.50%, 12/7/2042 (a) | GBP 2 | 3 |
3.25%, 1/22/2044 (a) | GBP 20 | 22 |
3.50%, 1/22/2045 (a) | GBP 20 | 23 |
0.88%, 1/31/2046 (a) | GBP 40 | 27 |
4.25%, 12/7/2046 (a) | GBP 25 | 33 |
1.50%, 7/22/2047 (a) | GBP 36 | 28 |
4.25%, 12/7/2049 (a) | GBP 26 | 34 |
0.63%, 10/22/2050 (a) | GBP 48 | 27 |
1.25%, 7/31/2051 (a) | GBP 23 | 16 |
3.75%, 7/22/2052 (a) | GBP 34 | 41 |
1.50%, 7/31/2053 (a) | GBP 16 | 12 |
4.25%, 12/7/2055 (a) | GBP 34 | 46 |
1.75%, 7/22/2057 (a) | GBP 24 | 18 |
0.50%, 10/22/2061 (a) | GBP 35 | 15 |
2.50%, 7/22/2065 (a) | GBP 30 | 28 |
3.50%, 7/22/2068 (a) | GBP 29 | 35 |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($000) | VALUE ($000) |
Foreign Government Securities — continued | ||
United Kingdom — continued | ||
1.63%, 10/22/2071 (a) | GBP 15 | 10 |
1.13%, 10/22/2073 (a) | GBP 15 | 8 |
890 | ||
Total Foreign Government Securities (Cost $14,581) | 13,699 | |
Corporate Bonds — 1.6% | ||
Canada — 0.9% | ||
Ontario Teachers' Finance Trust | ||
0.50%, 5/6/2025 (a) | EUR 400 | 407 |
1.13%, 5/15/2026 (a) | GBP 300 | 335 |
0.10%, 5/19/2028 (a) | EUR 230 | 211 |
953 | ||
China — 0.2% | ||
China Development Bank 0.88%, 1/24/2024 (a) | EUR 200 | 212 |
Netherlands — 0.4% | ||
BNG Bank NV 1.90%, 11/26/2025 (a) | AUD 90 | 57 |
Nederlandse Waterschapsbank NV | ||
2.00%, 12/16/2024 (a) | GBP 310 | 366 |
3.50%, 7/20/2027 | AUD 40 | 26 |
449 | ||
South Korea — 0.1% | ||
Korea Development Bank (The) 0.63%, 7/17/2023 (a) | EUR 100 | 107 |
Total Corporate Bonds (Cost $1,827) | 1,721 | |
U.S. Treasury Obligations — 1.4% | ||
U.S. Treasury Notes 0.88%, 1/31/2024 (e)(Cost $1,458) | 1,505 | 1,458 |
Supranational — 0.2% | ||
Asian Development Bank, 3.40%, 9/10/2027 (a) | AUD 140 | 92 |
European Investment Bank, 0.50%, 6/21/2023 | AUD 30 | 20 |
Inter-American Development Bank | ||
0.50%, 5/23/2023 | CAD 63 | 46 |
4.40%, 1/26/2026 | CAD 16 | 12 |
Total Supranational (Cost $192) | 170 | |
Collateralized Mortgage Obligations — 0.0% ^ | ||
United States — 0.0% ^ | ||
Deutsche Alt-A Securities Mortgage Loan Trust Series 2007-3, Class 2A1, 5.60%, 10/25/2047 (f) | — | — |
Morgan Stanley Mortgage Loan Trust Series 2004-5AR, Class 4A, 3.85%, 7/25/2034 (f) | — | — |
Total Collateralized Mortgage Obligations (Cost $—) | — |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES (000) | VALUE ($000) |
Short-Term Investments — 3.2% | ||
Investment Companies — 3.2% | ||
JPMorgan Prime Money Market Fund Class Institutional Shares, 4.89% (c) (g) (Cost $3,398) | 3,397 | 3,398 |
Total Investments — 103.5% (Cost $96,527) | 109,040 | |
Liabilities in Excess of Other Assets — (3.5)% | (3,673) | |
NET ASSETS — 100.0% | 105,367 |
Percentages indicated are based on net assets. | ||
Amounts presented as a dash ("-") represent amounts that round to less than a thousand. |
Abbreviations | |
ADR | American Depositary Receipt |
APAC | Asia Pacific |
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHDI | Clearing House Electronic Subregister System (CHESS) Depository Interest |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
OYJ | Public Limited Company |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
PT | Limited liability company |
REIT | Real Estate Investment Trust |
SCA | Limited partnership with share capital |
SEK | Swedish Krona |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(b) | All or a portion of this security is segregated as collateral for short sales. The total value of securities segregated as collateral is $1,216. | |
(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) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(e) | All or a portion of this security is deposited with the broker as initial margin for futures contracts. | |
(f) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of March 31, 2023. | |
(g) | The rate shown is the current yield as of March 31, 2023. |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
Summary of Investments by Industry, March 31, 2023
The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Fixed Income | 29.9 % |
Foreign Government Securities | 12.6 |
International Equity | 4.6 |
Banks | 3.7 |
Semiconductors & Semiconductor Equipment | 3.6 |
Software | 3.3 |
Capital Markets | 2.5 |
Pharmaceuticals | 2.4 |
Oil, Gas & Consumable Fuels | 2.1 |
U.S. Equity | 2.1 |
Hotels, Restaurants & Leisure | 1.7 |
Broadline Retail | 1.6 |
Biotechnology | 1.5 |
Technology Hardware, Storage & Peripherals | 1.4 |
U.S. Treasury Notes | 1.3 |
Health Care Equipment & Supplies | 1.2 |
Chemicals | 1.2 |
Insurance | 1.2 |
Textiles, Apparel & Luxury Goods | 1.1 |
Interactive Media & Services | 1.1 |
Health Care Providers & Services | 1.1 |
Machinery | 1.0 |
Ground Transportation | 1.0 |
Financial Services | 1.0 |
Beverages | 1.0 |
Others (each less than 1.0%) | 11.7 |
Short-Term Investments | 3.1 |
Detailed information about investment portfolios of the underlying funds can be found in shareholder reports filed with the Securities and Exchange Commission (SEC) by each such underlying fund semi-annually on Form N-CSR and in portfolio holdings filed quarterly on Form N-PORT, and are available for download from both the SEC’s as well as each respective underlying fund’s website. Detailed information about underlying J.P. Morgan Funds can also be found at www.jpmorganfunds.com or by calling 1-800-480-4111.
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
Futures contracts outstanding as of March 31, 2023 (amounts in thousands, except number of contracts):
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Japan 10 Year Bond Mini | 4 | 06/12/2023 | JPY | 446 | 7 |
S&P/TSX 60 Index | 5 | 06/15/2023 | CAD | 894 | 13 |
Foreign Exchange AUD / USD | 6 | 06/16/2023 | USD | 402 | — (a) |
Foreign Exchange EUR / USD | 66 | 06/16/2023 | USD | 8,988 | 139 |
Foreign Exchange GBP/USD | 16 | 06/16/2023 | USD | 1,236 | 30 |
Foreign Exchange JPY / USD | 141 | 06/16/2023 | USD | 13,428 | 277 |
MSCI EAFE E-Mini Index | 9 | 06/16/2023 | USD | 943 | 34 |
MSCI Emerging Markets E-Mini Index | 21 | 06/16/2023 | USD | 1,045 | 39 |
S&P 500 E-Mini Index | 32 | 06/16/2023 | USD | 6,617 | 298 |
U.S. Treasury 10 Year Note | 3 | 06/21/2023 | USD | 345 | 1 |
Long Gilt | 2 | 06/28/2023 | GBP | 255 | 4 |
3 Month Euro Euribor | 2 | 09/15/2025 | EUR | 527 | — (a) |
3 Month Euro Euribor | 2 | 12/15/2025 | EUR | 527 | — (a) |
3 Month SONIA | 4 | 03/17/2026 | GBP | 1,189 | 2 |
844 | |||||
Short Contracts | |||||
Euro-Bund | (3) | 06/08/2023 | EUR | (443) | (17) |
Foreign Exchange CAD/USD | (3) | 06/20/2023 | USD | (222) | (5) |
U.S. Treasury 10 Year Ultra Note | (15) | 06/21/2023 | USD | (1,819) | (1) |
U.S. Treasury Ultra Bond | (20) | 06/21/2023 | USD | (2,833) | (121) |
U.S. Treasury 2 Year Note | (1) | 06/30/2023 | USD | (206) | (3) |
3 Month SOFR | (5) | 03/17/2026 | USD | (1,214) | (7) |
(154) | |||||
690 |
Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
EAFE | Europe, Australasia and Far East |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
MSCI | Morgan Stanley Capital International |
SOFR | Secured Overnight Financing Rate |
SONIA | Sterling Overnight Index Average |
USD | United States Dollar |
(a) | Amount rounds to less than one thousand. |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
Forward foreign currency exchange contracts outstanding as of March 31, 2023 (amounts in thousands):
CURRENCY PURCHASED | CURRENCY SOLD | COUNTERPARTY | SETTLEMENT DATE | UNREALIZED APPRECIATION (DEPRECIATION) ($) | ||
EUR | 57 | JPY | 7,944 | Royal Bank of Canada | 4/20/2023 | 2 |
EUR | 47 | USD | 50 | BNP Paribas | 4/20/2023 | 1 |
EUR | 146 | USD | 156 | HSBC Bank, NA | 4/20/2023 | 3 |
EUR | 348 | USD | 371 | Merrill Lynch International | 4/20/2023 | 7 |
GBP | 27 | USD | 32 | Merrill Lynch International | 4/20/2023 | 1 |
GBP | 51 | USD | 62 | Morgan Stanley | 4/20/2023 | 1 |
GBP | 102 | USD | 123 | Royal Bank of Canada | 4/20/2023 | 2 |
JPY | 19,878 | USD | 147 | Merrill Lynch International | 4/20/2023 | 3 |
USD | 40 | AUD | 60 | Citibank, NA | 4/20/2023 | — (a) |
USD | 530 | AUD | 787 | Royal Bank of Canada | 4/20/2023 | 4 |
USD | 26 | JPY | 3,405 | Merrill Lynch International | 4/20/2023 | — (a) |
USD | 33 | JPY | 4,310 | Morgan Stanley | 4/20/2023 | — (a) |
USD | 35 | JPY | 4,629 | Royal Bank of Canada | 4/20/2023 | — (a) |
Total unrealized appreciation | 24 | |||||
AUD | 28 | USD | 19 | Morgan Stanley | 4/20/2023 | — (a) |
EUR | 22 | JPY | 3,212 | Merrill Lynch International | 4/20/2023 | — (a) |
EUR | 29 | USD | 32 | Barclays Bank plc | 4/20/2023 | — (a) |
EUR | 33 | USD | 36 | BNP Paribas | 4/20/2023 | — (a) |
EUR | 49 | USD | 53 | HSBC Bank, NA | 4/20/2023 | — (a) |
EUR | 51 | USD | 55 | Merrill Lynch International | 4/20/2023 | — (a) |
JPY | 4,846 | EUR | 35 | HSBC Bank, NA | 4/20/2023 | (1) |
USD | 575 | CAD | 780 | HSBC Bank, NA | 4/20/2023 | (2) |
USD | 36 | CAD | 49 | Royal Bank of Canada | 4/20/2023 | — (a) |
USD | 64 | DKK | 447 | Merrill Lynch International | 4/20/2023 | (1) |
USD | 41 | EUR | 39 | Barclays Bank plc | 4/20/2023 | (1) |
USD | 8,060 | EUR | 7,573 | BNP Paribas | 4/20/2023 | (160) |
USD | 64 | EUR | 60 | HSBC Bank, NA | 4/20/2023 | (1) |
USD | 124 | EUR | 115 | Morgan Stanley | 4/20/2023 | (2) |
USD | 91 | EUR | 84 | Royal Bank of Canada | 4/20/2023 | (1) |
USD | 132 | EUR | 125 | State Street Corp. | 4/20/2023 | (4) |
USD | 1,880 | GBP | 1,551 | HSBC Bank, NA | 4/20/2023 | (35) |
USD | 73 | GBP | 61 | State Street Corp. | 4/20/2023 | (2) |
USD | 35 | JPY | 4,590 | Morgan Stanley | 4/20/2023 | — (a) |
USD | 142 | JPY | 19,180 | Royal Bank of Canada | 4/20/2023 | (3) |
USD | 361 | JPY | 48,649 | Standard Chartered Bank | 4/20/2023 | (6) |
USD | 4,154 | JPY | 564,176 | State Street Corp. | 4/20/2023 | (106) |
USD | 61 | SEK | 630 | Standard Chartered Bank | 4/20/2023 | — (a) |
Total unrealized depreciation | (325) | |||||
Net unrealized depreciation | (301) |
Abbreviations | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
SEK | Swedish Krona |
USD | United States Dollar |
(a) | Amount rounds to less than one thousand. |
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
A. Valuation of Investments — Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Portfolio's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.
Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of Investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
A market-based approach is primarily used to value the Portfolio's investments. Investments for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.
Fixed income instruments are valued based on prices received from Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.
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 Portfolio are calculated on a valuation date. Certain foreign equity instruments are valued by applying international fair value factors provided by approved Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAV is calculated.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Futures contracts are generally valued on the basis of available market quotations. Forward foreign currency exchange contracts are valued utilizing market quotations from approved Pricing Services.
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 Portfolio'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 Portfolio'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.
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
The following table represents each valuation input as presented on the Schedule of Portfolio Investments ("SOI"):
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Collateralized Mortgage Obligations | $— | $—(a ) | $— | $—(a ) |
Common Stocks | ||||
Australia | — | 797 | — | 797 |
Belgium | — | 141 | — | 141 |
Canada | 756 | — | — | 756 |
China | 735 | 186 | — | 921 |
Denmark | — | 799 | — | 799 |
Finland | — | 216 | — | 216 |
France | — | 3,459 | — | 3,459 |
Germany | — | 1,367 | — | 1,367 |
Hong Kong | — | 537 | — | 537 |
India | 568 | — | — | 568 |
Indonesia | — | 148 | — | 148 |
Ireland | — | 25 | — | 25 |
Italy | — | 87 | — | 87 |
Japan | — | 3,211 | — | 3,211 |
Macau | — | 7 | — | 7 |
Mexico | 67 | — | — | 67 |
Netherlands | 4 | 1,215 | — | 1,219 |
New Zealand | — | 3 | — | 3 |
Singapore | 9 | 195 | — | 204 |
South Africa | — | 78 | — | 78 |
South Korea | — | 202 | — | 202 |
Spain | — | 281 | — | 281 |
Sweden | — | 730 | — | 730 |
Switzerland | — | 352 | — | 352 |
Taiwan | 822 | — | — | 822 |
United Kingdom | 32 | 2,080 | — | 2,112 |
United States | 28,378 | 1,192 | — | 29,570 |
Total Common Stocks | 31,371 | 17,308 | — | 48,679 |
Corporate Bonds | — | 1,721 | — | 1,721 |
Foreign Government Securities | — | 13,699 | — | 13,699 |
Investment Companies | 39,915 | — | — | 39,915 |
Supranational | — | 170 | — | 170 |
U.S. Treasury Obligations | — | 1,458 | — | 1,458 |
Short-Term Investments | ||||
Investment Companies | 3,398 | — | — | 3,398 |
Total Investments in Securities | $74,684 | $34,356 | $— | $109,040 |
Appreciation in Other Financial Instruments | ||||
Forward Foreign Currency Exchange Contracts | $— | $24 | $— | $24 |
Futures Contracts | 844 | — | — | 844 |
Depreciation in Other Financial Instruments | ||||
Forward Foreign Currency Exchange Contracts | — | (325 ) | — | (325 ) |
Futures Contracts | (154 ) | — | — | (154 ) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $690 | $(301 ) | $— | $389 |
(a) | Amount rounds to less than one thousand. |
B. Investment Transactions with Affiliates — The Portfolio invested in Underlying Funds, which are advised by the Adviser. An issuer which is under common control with the Portfolio may be considered an affiliate. The Portfolio assumes the issuers listed in the table below
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
to be affiliated issuers. The Underlying Funds’ distributions may be reinvested into such Underlying Funds. Reinvestment amounts are included in the purchases at cost amounts in the table below.
For the period ended March 31, 2023 | |||||||||
Security Description | Value at December 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at March 31, 2023 | Shares at March 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Corporate Bond Fund Class R6 Shares (a) | $5,296 | $23,404 | $1,096 | $(31) | $209 | $27,782 | 3,327 | $246 | $— |
JPMorgan Emerging Markets Equity Fund Class R6 Shares (a) | 4,743 | — | — | — | 241 | 4,984 | 169 | — | — |
JPMorgan Income Fund Class R6 Shares (a) | 4,756 | 65 | — | — | 34 | 4,855 | 586 | 64 | — |
JPMorgan Large Cap Value Fund Class R6 Shares (a) | 3,654 | 9 | 1,465 | 81 | 15 | 2,294 | 127 | 9 | — |
JPMorgan Prime Money Market Fund Class Institutional Shares, 4.89% (a) (b) | 3,407 | 22,248 | 22,257 | 1 | (1) | 3,398 | 3,397 | 36 | — |
Total | $21,856 | $45,726 | $24,818 | $51 | $498 | $43,313 | $355 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of March 31, 2023. |
C. Derivatives — The Portfolio used derivative instruments including options, futures contracts, forward foreign currency exchange contracts and swaps, in connection with its investment strategy. Derivative instruments may be used as substitutes for securities in which the Portfolio can invest, to hedge portfolio investments or to generate income or gain to the Portfolio. Derivatives may also be used to manage duration, sector and yield curve exposures and credit and spread volatility.
The Portfolio may be subject to various risks from the use of derivatives, including the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties’ failure to perform under contract terms; liquidity risk related to the potential lack of a liquid market for these contracts allowing a Fund to close out its position(s); and documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Portfolio's risk of loss associated with these instruments may exceed their value.
The Portfolio is party to various derivative contracts governed by International Swaps and Derivatives Association master agreements (“ISDA agreements”). The Portfolio's ISDA agreements, which are separately negotiated with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not otherwise waived, against the Portfolio in the event the Portfolio's net assets decline over time by a pre-determined percentage or fall below a pre-determined floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Portfolio to exercise rights, to the extent not otherwise waived, against a counterparty (e.g., decline in a counterparty’s credit rating below a specified level). Such rights for both a counterparty and the Portfolio often include the ability to terminate (i.e., close out) open contracts at prices which may favor a counterparty, which could have an adverse effect on the Portfolio. The ISDA agreements give the Portfolio and a counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable against collateral posted to a segregated account by one party for the benefit of the other.
Counterparty credit risk may be mitigated to the extent a counterparty posts additional collateral for mark to market gains to the Portfolio.
Notes (1) — (2) below describe the various derivatives used by the Portfolio.
(1). Futures Contracts — The Portfolio used currency, index, interest rate, treasury or other financial futures contracts to manage and hedge interest rate risk associated with portfolio investments and to gain or reduce exposure to positive and negative price fluctuation or a particular countries or regions. The Portfolio also used futures contracts to lengthen or shorten the duration of the overall investment portfolio. The Portfolio used commodity futures contracts to obtain long and short exposure to the underlying commodities markets. The purchase of futures contracts will tend to increase the Portfolio's exposure to positive and negative price fluctuations in the underlying instrument. The sales of futures contracts will tend to offset both positive and negative market price changes.
Futures contracts provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Portfolio is required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Portfolio periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as change in net unrealized appreciation/depreciation on futures contracts. Securities deposited as initial margin are designated on the Schedule of Investments, while cash deposited is considered restricted.
JPMorgan Insurance Trust Global Allocation Portfolio
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2023 (Unaudited) (continued)
(Dollar values in thousands)
The Portfolio may be exposed to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subject the Portfolio to risk of loss up to the notional amount of the futures contracts. Use of short futures contracts subjects the Portfolio to unlimited risk of loss. The Portfolio may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Portfolio's credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of positions.
The Portfolio's futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).
(2). Forward Foreign Currency Exchange Contracts— The Portfolio is exposed to foreign currency risks associated with some or all of the portfolio investments and used forward foreign currency exchange contracts to hedge or manage certain of these exposures as part of an investment strategy. The Portfolio also bought forward foreign currency exchange contracts to gain exposure to currencies. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in U.S. dollars without the delivery of the foreign currency.
The values of the forward foreign currency exchange contracts are adjusted daily based on the applicable exchange rate of the underlying currency. Changes in the value of these contracts are recorded as unrealized appreciation or depreciation until the contract settlement date. When the forward foreign currency exchange contract is closed, the Portfolio records a realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed. The Portfolio also records a realized gain or loss, upon settlement, when a forward foreign currency exchange contract offsets another forward foreign currency exchange contract with the same counterparty.
The Portfolio's forward foreign currency exchange contracts are subject to master netting arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions).
The Portfolio may be required to post or receive collateral for non-deliverable forward foreign currency exchange contracts.