0001752724-24-127603.txt : 20240530 0001752724-24-127603.hdr.sgml : 20240530 20240530093935 ACCESSION NUMBER: 0001752724-24-127603 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240530 DATE AS OF CHANGE: 20240530 PERIOD START: 20240630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JPMorgan Trust I CENTRAL INDEX KEY: 0001217286 ORGANIZATION NAME: IRS NUMBER: 331043149 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21295 FILM NUMBER: 241001604 BUSINESS ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 BUSINESS PHONE: 800-480-4111 MAIL ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 FORMER COMPANY: FORMER CONFORMED NAME: JP MORGAN MUTUAL FUND SERIES DATE OF NAME CHANGE: 20030204 0001217286 S000037360 JPMorgan SmartRetirement* Blend 2055 Fund C000115304 Class I JPTBX C000115305 Class R2 JTRBX C000115306 Class R5 JTBBX C000115307 Class R6 JTYBX C000186785 Class R3 JTTUX C000186786 Class R4 JTTLX NPORT-P 1 primary_doc.xml NPORT-P false 0001217286 XXXXXXXX S000037360 C000115306 C000186785 C000115304 C000115305 C000115307 C000186786 JPMorgan Trust I 811-21295 0001217286 549300DM5WZMCZZ70R78 277 Park Avenue New York 10172 800-480-4111 JPMorgan SmartRetirement Blend 2055 Fund S000037360 54930042HNL16CZIGH88 2024-06-30 2024-03-31 N 1060494459.45 213081.11 1060281378.34 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N 48.65% SP500GRUSD0, 23.05% EAFERNRUSD0, 8.5% EMGLRNRUSD0, 6.85% 1TRUSD0, 6.45% SP400GRUSD0, 3.5% RU2000GRUSD0, 1.85% RMZGRUSD0, 0.9% 5273TRUSD0, 0.25% EMBIGDTRUSD0 IBXUSD006813 N/A N/A Russell 2000 E-Mini Index N/A 73.00000000 NC USD 125539.51000000 0.011840207002 N/A DE US N 1 CME Clearing House LCZ7XYGSLJUHFXXNXD88 Long Russell 2000 E-Mini Index US1248351090 2024-06-21 7832170.00000000 USD 125539.51000000 N N N JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 549300S2VYDS8QJGW220 JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 46641Q340 637824.00000000 NS USD 58966828.80000000 5.561432088180 Long RF US N 1 N N N JPMorgan Emerging Markets Debt Fund 8KLDAXM5A9FOP50PQD10 JPMorgan Emerging Markets Debt Fund, Class R6 48121A134 414759.15900000 NS USD 2575654.38000000 0.242921778370 Long RF US N 1 N N N JPMorgan Equity Index Fund 549300FO80ME045UVK10 JPMorgan Equity Index Fund, Class R6 4812C2213 6548437.25700000 NS USD 516147824.60000000 48.68026876111 Long RF US N 1 N N N United States of America 254900HROIFWPRGM1V77 U.S. Treasury Notes 91282CGG0 1581700.00000000 PA USD 1568828.09000000 0.147963372935 Long DBT UST US N 2 2025-01-31 Fixed 4.12500000 N N N N N N N/A N/A S&P MidCap 400 E-Mini Index N/A 35.00000000 NC USD 255505.45000000 0.024097890920 N/A DE US N 1 CME Clearing House LCZ7XYGSLJUHFXXNXD88 Long S&P MidCap 400 E-Mini Index XC0009692283 2024-06-21 10768100.00000000 USD 255505.45000000 N N N JPMorgan BetaBuilders U.S. Aggregate Bond ETF 549300Y7I30NRICF3S33 JPMorgan BetaBuilders U.S. Aggregate Bond ETF 46641Q241 150135.00000000 NS USD 6886692.45000000 0.649515552256 Long RF US N 1 N N N JPMorgan Core Plus Bond Fund JW89OQCNJOLWVS3KT374 JPMorgan Core Plus Bond Fund, Class R6 4812C0134 5787568.35500000 NS USD 41496865.11000000 3.913759682827 Long RF US N 1 N N N JPMorgan Emerging Markets Research Enhanced Equity Fund 549300RH6H0TG40PHS83 JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 46645V626 2753449.95400000 NS USD 43669716.27000000 4.118691241976 Long RF US N 1 N N N JPMorgan High Yield Fund 15QB5UY3VV3GNSMNPX63 JPMorgan High Yield Fund, Class R6 4812C0126 708019.78900000 NS USD 4552567.24000000 0.429373497733 Long RF US N 1 N N N JPMorgan BetaBuilders Emerging Markets Equity ETF 549300WEJ5UQZ8KRFS08 JPMorgan BetaBuilders Emerging Markets Equity ETF 46654Q807 900674.00000000 NS USD 45429996.56000000 4.284711350031 Long RF US N 1 N N N JPMorgan U.S. Government Money Market Fund 8I5DZWZKVSZI1NUHU748 JPMorgan U.S. Government Money Market Fund, Class IM 4812C2270 20667551.44000000 NS USD 20667551.44000000 1.949251572479 Long STIV RF US N 1 N N N JPMorgan BetaBuilders USD High Yield Corporate Bond ETF 549300UUJZT2ZWE64W88 JPMorgan BetaBuilders USD High Yield Corporate Bond ETF 46641Q878 93313.00000000 NS USD 4310127.47000000 0.406507891023 Long RF US N 1 N N N JPMorgan BetaBuilders International Equity ETF 549300BU8GZGI7U5FB20 JPMorgan BetaBuilders International Equity ETF 46641Q373 4065790.00000000 NS USD 244496281.65000000 23.05956575723 Long RF US N 1 N N N JPMorgan BetaBuilders U.S. Small Cap Equity ETF 549300LKK9I7ORHNOS29 JPMorgan BetaBuilders U.S. Small Cap Equity ETF 46641Q290 474711.00000000 NS USD 29864069.01000000 2.816617326313 Long RF US N 1 N N N JPMorgan Core Bond Fund DQ695W4P67V7A4LC6I09 JPMorgan Core Bond Fund, Class R6 4812C0100 2037222.01100000 NS USD 20759292.29000000 1.957904072832 Long RF US N 1 N N N JPMorgan BetaBuilders MSCI US REIT ETF 549300UDD0DL9T2E4I67 JPMorgan BetaBuilders MSCI US REIT ETF 46641Q738 213200.00000000 NS USD 18863936.00000000 1.779144327662 Long RF US N 1 N N N 2024-04-30 JPMorgan Trust I Timothy J. Clemens Timothy J. Clemens Treasurer and Principal Financial Officer XXXX NPORT-EX 2 JPMSRB2055.htm PART F EDGAR HTML
JPMorgan SmartRetirement® Blend 2055 Fund
Schedule of Portfolio Investments as of March 31, 2024
(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., 2024.
JPMorgan SmartRetirement® Blend 2055 Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited)
 
INVESTMENTS
SHARES
(000)
VALUE
($000)
Investment Companies — 59.2%
Fixed Income — 6.5%
JPMorgan Core Bond Fund Class R6 Shares (a)
2,037
20,759
JPMorgan Core Plus Bond Fund Class R6 Shares (a)
5,788
41,497
JPMorgan Emerging Markets Debt Fund Class R6 Shares (a)
415
2,576
JPMorgan High Yield Fund Class R6 Shares (a)
708
4,552
Total Fixed Income
 
69,384
International Equity — 4.1%
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a)
2,753
43,670
U.S. Equity — 48.6%
JPMorgan Equity Index Fund Class R6 Shares (a)
6,548
516,148
Total Investment Companies
(Cost $466,947)
 
629,202
Exchange-Traded Funds — 38.5%
Alternative Assets — 1.8%
JPMorgan BetaBuilders MSCI US REIT ETF (a)
213
18,864
Fixed Income — 1.0%
JPMorgan BetaBuilders U.S. Aggregate Bond ETF (a)
150
6,887
JPMorgan BetaBuilders USD High Yield Corporate Bond ETF (a)
93
4,310
Total Fixed Income
 
11,197
International Equity — 27.3%
JPMorgan BetaBuilders Emerging Markets Equity ETF (a)
900
45,430
JPMorgan BetaBuilders International Equity ETF (a)
4,066
244,496
Total International Equity
 
289,926
U.S. Equity — 8.4%
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (a)
638
58,967
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (a)
475
29,864
Total U.S. Equity
 
88,831
Total Exchange-Traded Funds
(Cost $344,145)
 
408,818
 
PRINCIPAL
AMOUNT
($000)
 
U.S. Treasury Obligations — 0.2%
U.S. Treasury Notes
4.13%, 1/31/2025 (b) (Cost $1,569)
1,582
1,568
JPMorgan SmartRetirement® Blend 2055 Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)
 INVESTMENTS
SHARES
(000)
VALUE
($000)
Short-Term Investments — 1.9%
Investment Companies — 1.9%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (a) (c)
(Cost $20,668)
20,668
20,668
Total Investments — 99.8%
(Cost $833,329)
 
1,060,256
Other Assets Less Liabilities — 0.2%
 
2,492
NET ASSETS — 100.0%
 
1,062,748
 
Percentages indicated are based on net assets.
 
Abbreviations
 
ETF
Exchange Traded Fund
REIT
Real Estate Investment Trust
USD
United States Dollar
 
(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)
All or a portion of this security is deposited with the broker as initial margin for futures contracts.
(c)
The rate shown is the current yield as of March 31, 2024.
Detailed information about investment portfolios of the underlying funds and ETFs 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.
Futures contracts outstanding as of March 31, 2024 (amounts in thousands, except number of contracts):
 
DESCRIPTION
NUMBER OF
CONTRACTS
EXPIRATION DATE
TRADING CURRENCY
NOTIONAL
AMOUNT ($)
VALUE AND
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
Long Contracts
 
 
 
 
 
Russell 2000 E-Mini Index
73
06/21/2024
USD
7,832
126
S&P MidCap 400 E-Mini Index
35
06/21/2024
USD
10,768
255
 
 
 
 
 
381
 
Abbreviations
 
USD
United States Dollar
JPMorgan SmartRetirement® Blend 2055 Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (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 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.
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.
Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “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 Fund are calculated on a valuation date.
Investments in open-end investment companies, excluding exchange-traded funds (“ETFs”) (“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.
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: 
 
 
 
 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
Investments in Securities
 
 
 
 
Exchange-Traded Funds
$408,818
$—
$—
$408,818
Investment Companies
629,202
—
—
629,202
JPMorgan SmartRetirement® Blend 2055 Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)
(Dollar values in thousands)
 
 
 
 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
U.S. Treasury Obligations
$—
$1,568
$—
$1,568
Short-Term Investments
 
 
 
 
Investment Companies
20,668
—
—
20,668
Total Investments in Securities
$1,058,688
$1,568
$—
$1,060,256
Appreciation in Other Financial Instruments
 
 
 
 
Futures Contracts
$381
$—
$—
$381
B. Investment Transactions with Affiliates— The Fund invested in Underlying Funds and ETFs 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’ and ETFs’ distributions may be reinvested into the Underlying Funds and ETFs. Reinvestment amounts are included in the purchases at cost amounts in the table below. 
 
For the period ended March 31, 2024
Security Description
Value at
June 30,
2023
Purchases at
Cost
Proceeds from
Sales
Net Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
(Depreciation)
Value at
March 31,
2024
Shares at
March 31,
2024
Dividend
Income
Capital Gain
Distributions
JPMorgan BetaBuilders Emerging Markets Equity
ETF  (a)
$36,739
$9,169
$1,887
$(153
)
$1,562
$45,430
900
$802
$—
JPMorgan BetaBuilders International Equity ETF
 (a)
210,654
33,003
19,811
(102
)
20,752
244,496
4,066
4,209
—
JPMorgan BetaBuilders MSCI US REIT ETF  (a)
15,728
2,740
516
34
878
18,864
213
455
—
JPMorgan BetaBuilders U.S. Aggregate Bond ETF
 (a)
7,495
1,760
2,340
(229
)
201
6,887
150
247
—
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF
 (a)
55,613
8,474
13,535
(95
)
8,510
58,967
638
539
—
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
 (a)
47,383
5,983
27,187
(1,681
)
5,366
29,864
475
542
—
JPMorgan BetaBuilders USD High Yield Corporate
Bond ETF  (a)
3,390
795
—
—
125
4,310
93
177
—
JPMorgan Core Bond Fund Class R6 Shares  (a)
7,588
13,201
—
—
(30
)
20,759
2,037
326
—
JPMorgan Core Plus Bond Fund Class R6 Shares
 (a)
22,802
18,718
—
—
(23
)
41,497
5,788
951
—
JPMorgan Emerging Markets Debt Fund Class R6
Shares  (a)
2,835
1,874
2,236
(415
)
518
2,576
415
123
—
JPMorgan Emerging Markets Research Enhanced
Equity Fund Class R6 Shares  (a)
37,918
6,843
2,088
(130
)
1,127
43,670
2,753
1,207
—
JPMorgan Equity Index Fund Class R6 Shares  (a)
372,940
83,853
14,620
(541
)
74,516
516,148
6,548
4,885
—
JPMorgan High Yield Fund Class R6 Shares  (a)
3,437
2,379
1,444
(67
)
247
4,552
708
234
—
JPMorgan U.S. Government Money Market Fund
Class IM Shares, 5.25%  (a) (b)
16,149
147,097
142,578
—
—
20,668
20,668
689
—
Total
$840,671
$335,889
$228,242
$(3,379
)
$113,749
$1,058,688
 
$15,386
$—
 
 
(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, 2024.