UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-21638

JPMorgan Institutional Trust

(Exact name of registrant as specified in charter)

270 Park Avenue

New York, New York 10017

(Address of principal executive offices) (Zip code)

Frank J. Nasta

270 Park Avenue

New York, New York 10017

(Name and Address of Agent for Service)

Registrant’s telephone number, including area code: (800) 343-1113

Date of fiscal year end: Last day of February

Date of reporting period: November 30, 2012

ITEM 1. SCHEDULE OF INVESTMENTS.

JPMorgan Institutional Trust

Schedule of Portfolio Investments as of November 30, 2012

(Unaudited)

THE “UNAUDITED CERTIFIED 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. Certified 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.

J.P. Morgan Asset Management is the marketing name for the asset management business of JPMorgan Chase & Co. Those businesses include, but are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated and J.P. Morgan Alternative Asset Management, Inc.

JPMorgan Distribution Services, Inc.

© JPMorgan Chase & Co., 2013.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — 5.4%
	2,104	Academic Loan Funding Trust, Series 2012-1A, Class A1, VAR, 1.007%, 12/27/22 (e)		2,119
		AH Mortgage Advance Co., Ltd., (Cayman Islands),
	2,588	Series SART-3, Class 1A1, 2.980%, 03/13/43 (e)		2,601
	4,725	Series SART-3, Class 1A2, 3.720%, 03/13/44 (e)		4,796
		AH Mortgage Servicer Advance Revolving Trust 1,
	2,152	Series SART-1, Class A1R, 2.230%, 05/10/43 (e)		2,160
	6,667	Series SART-1, Class A2, 3.370%, 05/10/43 (e)		6,667
		AH Mortgage Servicer Advance Revolving Trust 2, (Cayman Islands),
	3,628	Series SART-2, Class A1, 3.270%, 09/15/43 (e)		3,669
	880	Series SART-2, Class B1, 6.900%, 09/15/43 (e)		881
		Ally Auto Receivables Trust,
	689	Series 2010-3, Class A3, 1.110%, 10/15/14		690
	677	Series 2010-3, Class A4, 1.550%, 08/17/15		685
	179	Series 2010-4, Class A3, 0.910%, 11/17/14		180
	491	Series 2011-1, Class A3, 1.380%, 01/15/15		494
	1,418	Series 2012-1, Class A3, 0.930%, 02/16/16		1,427
	980	Series 2012-2, Class A3, 0.740%, 04/15/16		984
	1,250	Series 2012-3, Class A2, 0.700%, 01/15/15		1,253
	1,123	Series 2012-3, Class A3, 0.850%, 08/15/16		1,130
	1,642	Series 2012-4, Class A2, 0.480%, 05/15/15		1,642
	1,843	Series 2012-5, Class A2, 0.450%, 07/15/15		1,842
		American Credit Acceptance Receivables Trust,
	1,098	Series 2012-1, Class A2, 3.040%, 10/15/15 (e)		1,099
	1,409	Series 2012-3, Class A, 1.640%, 11/15/16 (e)		1,409
		AmeriCredit Automobile Receivables Trust,
	509	Series 2010-3, Class A3, 1.140%, 04/08/15		511
	304	Series 2010-4, Class A3, 1.270%, 04/08/15		305
	343	Series 2011-1, Class A3, 1.390%, 09/08/15		345
	594	Series 2011-3, Class A2, 0.840%, 11/10/14		594
	207	Series 2011-4, Class A2, 0.920%, 03/09/15		207
	1,414	Series 2011-4, Class A3, 1.170%, 05/09/16		1,423
	1,195	Series 2011-5, Class A3, 1.550%, 07/08/16		1,211
	961	Series 2012-1, Class A2, 0.910%, 10/08/15		963
	235	Series 2012-1, Class A3, 1.230%, 09/08/16		237
	123	Series 2012-2, Class A3, 1.050%, 10/11/16		124
	600	Series 2012-3, Class A2, 0.710%, 12/08/15		601
	361	Series 2012-3, Class A3, 0.960%, 01/09/17		363
	400	Series 2012-4, Class A2, 0.490%, 04/08/16		400
	1,000	Series 2012-5, Class A2, 0.510%, 01/08/16		1,000
	290	Series 2012-5, Class A3, 0.620%, 06/08/17		290
	839	Ascentium Equipment Receivables LLC, Series 2012-1A, Class A, 1.830%, 09/15/19 (e)		839
		Bank of America Auto Trust,
	385	Series 2010-1A, Class A4, 2.180%, 02/15/17 (e)		388
	589	Series 2012-1, Class A3, 0.780%, 06/15/16		591
	660	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.578%, 04/25/36		578
	622	BMW Vehicle Lease Trust, Series 2012-1, Class A3, 0.750%, 02/20/15		624
	1,419	BXG Receivables Note Trust, Series 2012-A, Class A, 2.660%, 12/02/27 (e)		1,432
	700	Cabela’s Master Credit Card Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		719

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	2,108	California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		2,108
		CarMax Auto Owner Trust,
	85	Series 2010-1, Class A3, 1.560%, 07/15/14		86
	979	Series 2011-1, Class A3, 1.290%, 09/15/15		984
	885	Series 2011-1, Class A4, 2.160%, 09/15/16		911
	1,350	Series 2011-3, Class A3, 1.070%, 06/15/16		1,361
	415	Series 2012-3, Class A2, 0.430%, 09/15/15		415
	285	CarNow Auto Receivables Trust, Series 2012-1A, Class A, 2.090%, 01/15/15 (e)		285
	528	Centex Home Equity, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		536
	1,801	Chase Funding Mortgage Loan Asset-Backed Certificates, Series 2003-6, Class 1A7, SUB, 4.277%, 11/25/34		1,737
	800	Citibank Credit Card Issuance Trust, Series 2007-A3, Class A3, 6.150%, 06/15/39		1,093
	1,442	Citigroup Mortgage Loan Trust, Series 2011-5, Class 1A1, VAR, 0.398%, 02/25/46 (e) (i)		1,335
	481	Citigroup Mortgage Loan Trust, Inc., Series 2003-HE3, Class A, VAR, 0.587%, 12/25/33		439
		CNH Equipment Trust,
	477	Series 2010-C, Class A3, 1.170%, 05/15/15		479
	838	Series 2011-A, Class A3, 1.200%, 05/16/16		843
	747	Series 2011-A, Class A4, 2.040%, 10/17/16		768
	1,188	Series 2012-A, Class A2, 0.650%, 07/15/15		1,190
	920	Series 2012-A, Class A3, 0.940%, 05/15/17		927
	949	Series 2012-C, Class A2, 0.440%, 02/16/16		949
	832	Countrywide Asset-Backed Certificates, Series 2004-6, Class M1, VAR, 0.808%, 10/25/34		667
		CPS Auto Receivables Trust,
	1,328	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		1,388
	714	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		716
	3,827	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		3,841
	2,331	CPS Auto Trust, Series 2012-C, Class A, 1.820%, 12/16/19 (e)		2,332
		Credit Acceptance Auto Loan Trust,
	1,300	Series 2011-1, Class A, 2.610%, 03/15/19 (e)		1,317
	565	Series 2012-1A, Class A, 2.200%, 09/16/19 (e)		568
	1,512	Series 2012-2A, Class A, 1.520%, 03/16/20 (e)		1,513
	322	Credit-Based Asset Servicing and Securitization LLC, Series 2006-CB1, Class AF2, SUB, 4.223%, 01/25/36		200
		Discover Card Master Trust,
	1,040	Series 2008-A4, Class A4, 5.650%, 12/15/15		1,070
	813	Series 2012-A1, Class A1, 0.810%, 08/15/17		820
	1,442	Exeter Automobile Receivables Trust, Series 2012-2A, Class A, 1.300%, 06/15/17 (e)		1,447
	180	First Franklin Mortgage Loan Trust, Series 2006-FF17, Class A4, VAR, 0.308%, 12/25/36		176
	1,000	First Investors Auto Owner Trust, Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		1,002
	551	Flagship Credit Auto Trust, Series 2012-1, Class A, 1.860%, 01/15/15 (e)		551
	267	Ford Credit Auto Lease Trust, Series 2011-A, Class A2, 0.740%, 09/15/13		267
		Ford Credit Auto Owner Trust,
	289	Series 2009-B, Class A4, 4.500%, 07/15/14		292
	1,754	Series 2012-A, Class A3, 0.840%, 08/15/16		1,765
	600	Series 2012-B, Class A3, 0.720%, 12/15/16		602
	913	Series 2012-D, Class A2, 0.400%, 09/15/15		913
	659	Series 2012-D, Class A3, 0.510%, 04/15/17		659
	2,448	Fortress Opportunities Residential Transaction, Series 2011-1A, Class A1, VAR, 7.211%, 10/25/47 (e)		2,515
		Freedom Trust,
	395	Series 2011-1, Class A13, VAR, 0.373%, 11/30/37 (e) (i)		387
	952	Series 2011-2, Class A11, VAR, 3.703%, 08/01/46 (e)		961

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
		GE Equipment Midticket LLC,
	800	Series 2012-1, Class A3, 0.600%, 05/23/16		801
	360	Series 2012-1, Class A4, 0.780%, 09/22/20		361
	562	GE Equipment Transportation LLC, Series 2012-2, Class A2, 0.470%, 04/24/15		562
	384	GE Mortgage Services, Inc., Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		355
	240	Harley-Davidson Motorcycle Trust, Series 2010-1, Class A3, 1.160%, 02/15/15		240
		HLSS Servicer Advance Receivables Backed Notes,
	1,954	Series 2012-T2, Class A1, 1.340%, 10/15/43 (e)		1,959
	1,560	Series 2012-T2, Class A2, 1.990%, 10/15/45 (e)		1,575
		Honda Auto Receivables Owner Trust,
	550	Series 2011-1, Class A4, 1.800%, 04/17/17		560
	809	Series 2012-1, Class A3, 0.770%, 01/15/16		813
	388	Series 2012-1, Class A4, 0.970%, 04/16/18		392
	413	Series 2012-2, Class A3, 0.700%, 02/16/16		415
		HSBC Home Equity Loan Trust USA,
	1,090	Series 2006-1, Class A1, VAR, 0.367%, 01/20/36		1,074
	303	Series 2007-1, Class A2F, SUB, 5.600%, 03/20/36		304
	2,041	Series 2007-3, Class APT, VAR, 1.407%, 11/20/36		2,008
		Huntington Auto Trust,
	259	Series 2011-1A, Class A2, 0.760%, 04/15/14 (e)		259
	1,000	Series 2011-1A, Class A3, 1.010%, 01/15/16 (e)		1,005
	1,000	Series 2011-1A, Class A4, 1.310%, 11/15/16 (e)		1,015
	692	Series 2012-1, Class A3, 0.810%, 09/15/16		696
	687	Series 2012-2, Class A2, 0.380%, 09/15/15		687
		Hyundai Auto Receivables Trust,
	330	Series 2010-B, Class A3, 0.970%, 04/15/15		331
	710	Series 2010-B, Class A4, 1.630%, 03/15/17		724
	437	Series 2011-A, Class A3, 1.160%, 04/15/15		439
	520	Series 2011-A, Class A4, 1.780%, 12/15/15		530
	734	Series 2011-B, Class A3, 1.040%, 09/15/15		739
	824	Series 2011-B, Class A4, 1.650%, 02/15/17		841
	865	Series 2012-A, Class A3, 0.720%, 03/15/16		868
	235	Indymac Residential Asset-Backed Trust, Series 2006-A, Class A3, VAR, 0.407%, 03/25/36		142
		John Deere Owner Trust,
	475	Series 2011-A, Class A3, 1.290%, 01/15/16		477
	355	Series 2011-A, Class A4, 1.960%, 04/16/18		363
	1,079	Series 2012-B, Class A2, 0.430%, 02/17/15		1,080
	581	Series 2012-B, Class A4, 0.690%, 01/15/19		583
	171	LAI Vehicle Lease Securitization Trust, Series 2010-A, Class A, 2.550%, 09/15/16 (e) (i)		171
	1,061	Lake Country Mortgage Loan Trust, Series 2006-HE1, Class A3, VAR, 0.557%, 07/25/34 (e)		1,046
		Long Beach Mortgage Loan Trust,
	438	Series 2006-8, Class 2A2, VAR, 0.298%, 09/25/36		189
	631	Series 2006-WL2, Class 2A3, VAR, 0.407%, 01/25/36		522
	2,420	Macquarie Equipment Funding Trust, Series 2012-A, Class A2, 0.610%, 04/20/15 (e)		2,419
	1,328	Madison Avenue Manufactured Housing Contract, Series 2002-A, Class M2, VAR, 2.458%, 03/25/32		1,240
		Mercedes-Benz Auto Receivables Trust,
	144	Series 2010-1, Class A3, 1.420%, 08/15/14		144
	413	Series 2012-1, Class A2, 0.370%, 03/16/15		413
	1,199	Mid-State Capital Corp. Trust, Series 2006-1, Class M1, 6.083%, 10/15/40 (e)		1,196
	3,100	MMCA Auto Owner Trust, Series 2012-A, Class A4, 1.570%, 08/15/17 (e)		3,139
	1,126	NCUA Guaranteed Notes Trust, Series 2010-A1, Class A, VAR, 0.559%, 12/07/20		1,129

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	1,000	New Century Home Equity Loan Trust, Series 2003-5, Class AI6, SUB, 5.500%, 11/25/33		1,026
	468	Newcastle Investment Trust, Series 2011-MH1, Class A, 2.450%, 12/10/33 (e)		473
	938	Nissan Auto Lease Trust, Series 2012-B, Class A2A, 0.450%, 06/15/15		938
		Nissan Auto Receivables Owner Trust,
	338	Series 2010-A, Class A3, 0.870%, 07/15/14		339
	450	Series 2010-A, Class A4, 1.310%, 09/15/16		454
	672	Series 2012-A, Class A3, 0.730%, 05/16/16		675
	333	Series 2012-A, Class A4, 1.000%, 07/16/18		337
	1,572	Park Place Securities, Inc., Series 2004-MCW1, Class M1, VAR, 0.833%, 10/25/34		1,537
		PennyMac Loan Trust,
	438	Series 2011-NPL1, Class A, VAR, 5.250%, 09/25/51 (e) (i)		438
	1,248	Series 2012-NPL1, Class A, VAR, 3.422%, 05/28/52 (e) (i)		1,248
	3,000	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.507%, 03/25/36		2,649
	188	Real Estate Asset Trust, Series 2011-2A, Class A1, 5.750%, 05/25/49 (e) (i)		188
	299	Renaissance Home Equity Loan Trust, Series 2007-2, Class AF2, SUB, 5.675%, 06/25/37		146
	2,007	Residential Credit Solutions Trust, Series 2011-1, Class A1, 6.000%, 03/25/41 (e) (i)		2,011
		Resort Finance Timeshare Receivables Trust,
	4,156	Series 2012-1, Class A1, SUB, 6.250%, 07/05/18 (i)		4,156
	2,646	Series 2012-2, 5.750%, 09/05/18 (i)		2,646
	2,195	RMAT, Series 2012-1A, Class A1, VAR, 2.734%, 08/26/52 (e) (i)		2,216
		Santander Drive Auto Receivables Trust,
	129	Series 2010-3, Class A3, 1.200%, 06/16/14		129
	700	Series 2010-A, Class A4, 2.390%, 06/15/17 (e)		717
	306	Series 2011-S2A, Class B, 2.060%, 06/15/17 (e)		308
	647	Series 2011-S2A, Class D, 3.350%, 06/15/17 (e)		650
	1,399	Series 2012-1, Class A2, 1.250%, 04/15/15		1,405
	411	Series 2012-1, Class A3, 1.490%, 10/15/15		415
	662	Series 2012-2, Class A2, 0.910%, 05/15/15		664
	427	Series 2012-2, Class A3, 1.220%, 12/15/15		431
	269	Series 2012-3, Class A3, 1.080%, 04/15/16		271
	500	Series 2012-6, Class A2, 0.470%, 09/15/15		500
	333	Series 2012-6, Class A3, 0.620%, 07/15/16		333
	619	Saxon Asset Securities Trust, Series 2003-1, Class AF6, SUB, 4.795%, 06/25/33		619
	642	SNAAC Auto Receivables Trust, Series 2012-1A, Class A, 1.780%, 06/15/16 (e)		643
		Stanwich Mortgage Loan Trust,
	5,063	Series 2012-NPL4, Class A, 2.981%, 09/15/42 (e) (i)		5,066
	6,346	Series 2012-NPL5, Class A, 2.981%, 10/18/42 (e) (i)		6,356
	254	Structured Asset Investment Loan Trust, Series 2005-5, Class A9, VAR, 0.478%, 06/25/35		253
	324	Structured Asset Securities Corp., Series 2002-23XS, Class A7, SUB, 6.580%, 11/25/32		328
		Toyota Auto Receivables Owner Trust,
	524	Series 2010-C, Class A3, 0.770%, 04/15/14		525
	1,051	Series 2011-A, Class A3, 0.980%, 10/15/14		1,054
	1,540	Series 2011-A, Class A4, 1.560%, 05/15/15		1,561
	3,844	Trafigura Securitisation Finance plc, (Ireland), Series 2012-1A, Class A, VAR, 2.608%, 10/15/15 (e)		3,904
	770	United Auto Credit Securitization Trust, Series 2012-1, Class A2, 1.100%, 03/16/15 (e)		770
	206	USAA Auto Owner Trust, Series 2012-1, Class A2, 0.380%, 06/15/15		206
	1,100	Volkswagen Auto Lease Trust, Series 2012-A, Class A3, 0.870%, 07/20/15		1,108
	2,127	Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Class A3, 0.850%, 08/22/16		2,140

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
			VOLT LLC,
	6,024		Series 2012-1A, Class A1, SUB, 4.949%, 04/25/17 (e) (i)		6,023
	5,000		Series 2012-RLF1, Class A, 3.475%, 12/25/17 (e) (i)		5,000
	2,575		Series 2012-RP2A, Class A1, 4.704%, 06/26/17 (e) (i)		2,627
	300		Series 2012-RP2A, Class A2, 8.836%, 06/26/17 (e)		312
	1,331		Series 2012-RP3A, Class A1, VAR, 3.475%, 11/27/17		1,333
			Westgate Resorts LLC,
	2,300		Series 2012-1, Class A, 4.500%, 09/20/25 (e)		2,335
	2,184		Series 2012-2A, Class A, 3.000%, 01/20/25 (e)		2,195
	402		Westlake Automobile Receivables Trust, Series 2011-1A, Class A3, 1.490%, 06/16/14 (e)		403
			World Omni Auto Receivables Trust,
	1,188		Series 2010-A, Class A4, 2.210%, 05/15/15		1,199
	1,230		Series 2012-B, Class A2, 0.430%, 11/16/15		1,230
			Total Asset-Backed Securities (Cost $198,502)		200,184
	Collateralized Mortgage Obligations — 31.5%
			Agency CMO — 20.5%
			Federal Home Loan Bank,
	807		Series 2000-0606, Class Y, 5.270%, 12/28/12		809
	1,247		Series TQ-2015, Class A, 5.065%, 10/20/15		1,338
	283		Federal Home Loan Mortgage Corp. - Government National Mortgage Association, Series 8, Class ZA, 7.000%, 03/25/23		320
			Federal Home Loan Mortgage Corp. REMICS,
	26		Series 11, Class D, 9.500%, 07/15/19		27
	13		Series 22, Class C, 9.500%, 04/15/20		15
	21		Series 23, Class F, 9.600%, 04/15/20		23
	–	(h)	Series 41, Class I, HB, 84.000%, 05/15/20		—	(h)
	1		Series 47, Class F, 10.000%, 06/15/20		2
	6		Series 99, Class Z, 9.500%, 01/15/21		6
	–	(h)	Series 204, Class E, HB, IF, 1,838.732%, 05/15/23		—	(h)
	–	(h)	Series 1045, Class G, HB, 1,066.209%, 02/15/21		1
	8		Series 1065, Class J, 9.000%, 04/15/21		10
	2		Series 1079, Class S, HB,IF, 33.150%, 05/15/21		3
	7		Series 1084, Class F, VAR, 1.200%, 05/15/21		7
	5		Series 1084, Class S, HB,IF, 44.100%, 05/15/21		9
	17		Series 1116, Class I, 5.500%, 08/15/21		18
	16		Series 1144, Class KB, 8.500%, 09/15/21		18
	–	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		1
	–	(h)	Series 1196, Class B, HB,IF, 1,169.001%, 01/15/22		12
	17		Series 1250, Class J, 7.000%, 05/15/22		21
	27		Series 1343, Class LA, 8.000%, 08/15/22		32
	34		Series 1343, Class LB, 7.500%, 08/15/22		40
	57		Series 1370, Class JA, VAR, 1.400%, 09/15/22		57
	58		Series 1455, Class WB, IF, 4.550%, 12/15/22		64
	270		Series 1466, Class PZ, 7.500%, 02/15/23		311
	5		Series 1470, Class F, VAR, 2.038%, 02/15/23		5
	294		Series 1498, Class I, VAR, 1.400%, 04/15/23		294
	409		Series 1502, Class PX, 7.000%, 04/15/23		469
	54		Series 1505, Class Q, 7.000%, 05/15/23		62
	121		Series 1518, Class G, IF, 8.794%, 05/15/23		151
	41		Series 1541, Class M, HB,IF, 23.397%, 07/15/23		63
	111		Series 1541, Class O, VAR, 1.040%, 07/15/23		113
	11		Series 1570, Class F, VAR, 2.538%, 08/15/23		12
	390		Series 1573, Class PZ, 7.000%, 09/15/23		447
	262		Series 1591, Class PV, 6.250%, 10/15/23		292
	4		Series 1595, Class D, 7.000%, 10/15/13		4

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	17	Series 1596, Class D, 6.500%, 10/15/13		17
	27	Series 1602, Class SA, HB,IF, 21.938%, 10/15/23		47
	4	Series 1607, Class SA, HB,IF, 20.965%, 10/15/13		4
	1,132	Series 1608, Class L, 6.500%, 09/15/23		1,276
	206	Series 1609, Class LG, IF, 16.792%, 11/15/23		241
	621	Series 1638, Class H, 6.500%, 12/15/23		702
	498	Series 1642, Class PJ, 6.000%, 11/15/23		569
	14	Series 1671, Class QC, IF, 10.000%, 02/15/24		20
	18	Series 1686, Class SH, IF, 18.675%, 02/15/24		28
	174	Series 1695, Class EB, 7.000%, 03/15/24		200
	34	Series 1699, Class FC, VAR, 0.850%, 03/15/24		35
	185	Series 1700, Class GA, PO, 02/15/24		170
	478	Series 1706, Class K, 7.000%, 03/15/24		552
	16	Series 1709, Class FA, VAR, 0.940%, 03/15/24		16
	53	Series 1745, Class D, 7.500%, 08/15/24		61
	1,100	Series 1760, Class ZD, VAR, 1.290%, 02/15/24		1,152
	378	Series 1798, Class F, 5.000%, 05/15/23		412
	7	Series 1807, Class G, 9.000%, 10/15/20		7
	109	Series 1829, Class ZB, 6.500%, 03/15/26		123
	4	Series 1844, Class E, 6.500%, 10/15/13		4
	107	Series 1863, Class Z, 6.500%, 07/15/26		121
	39	Series 1865, Class D, PO, 02/15/24		31
	76	Series 1890, Class H, 7.500%, 09/15/26		90
	221	Series 1899, Class ZE, 8.000%, 09/15/26		259
	12	Series 1935, Class FL, VAR, 0.950%, 02/15/27		12
	162	Series 1963, Class Z, 7.500%, 01/15/27		190
	24	Series 1970, Class PG, 7.250%, 07/15/27		28
	248	Series 1981, Class Z, 6.000%, 05/15/27		271
	115	Series 1987, Class PE, 7.500%, 09/15/27		135
	281	Series 2019, Class Z, 6.500%, 12/15/27		317
	1	Series 2025, Class PE, 6.300%, 01/15/13		1
	83	Series 2033, Class SN, HB,IF, 26.769%, 03/15/24		55
	225	Series 2038, Class PN, IO, 7.000%, 03/15/28		50
	454	Series 2040, Class PE, 7.500%, 03/15/28		533
	76	Series 2043, Class CJ, 6.500%, 04/15/28		87
	357	Series 2054, Class PV, 7.500%, 05/15/28		420
	16	Series 2055, Class OE, 6.500%, 05/15/13		16
	673	Series 2075, Class PH, 6.500%, 08/15/28		770
	756	Series 2075, Class PM, 6.250%, 08/15/28		781
	223	Series 2086, Class GB, 6.000%, 09/15/28		242
	300	Series 2089, Class PJ, IO, 7.000%, 10/15/28		66
	1,012	Series 2095, Class PE, 6.000%, 11/15/28		1,141
	76	Series 2102, Class TC, 6.000%, 12/15/13		78
	52	Series 2102, Class TU, 6.000%, 12/15/13		54
	211	Series 2115, Class PE, 6.000%, 01/15/14		215
	322	Series 2125, Class JZ, 6.000%, 02/15/29		357
	74	Series 2132, Class SB, HB,IF, 29.631%, 03/15/29		137
	45	Series 2134, Class PI, IO, 6.500%, 03/15/19		6
	6	Series 2135, Class UK, IO, 6.500%, 03/15/14		—	(h)
	412	Series 2136, Class PG, 6.000%, 03/15/29		463
	113	Series 2141, Class IO, IO, 7.000%, 04/15/29		22
	94	Series 2163, Class PC, IO, 7.500%, 06/15/29		19
	1,133	Series 2169, Class TB, 7.000%, 06/15/29		1,326
	487	Series 2172, Class QC, 7.000%, 07/15/29		570
	466	Series 2176, Class OJ, 7.000%, 08/15/29		538
	260	Series 2201, Class C, 8.000%, 11/15/29		309
	216	Series 2209, Class TC, 8.000%, 01/15/30		255

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	386	Series 2210, Class Z, 8.000%, 01/15/30		461
	98	Series 2224, Class CB, 8.000%, 03/15/30		118
	227	Series 2230, Class Z, 8.000%, 04/15/30		268
	193	Series 2234, Class PZ, 7.500%, 05/15/30		228
	159	Series 2247, Class Z, 7.500%, 08/15/30		188
	228	Series 2256, Class MC, 7.250%, 09/15/30		268
	453	Series 2259, Class ZM, 7.000%, 10/15/30		532
	10	Series 2261, Class ZY, 7.500%, 10/15/30		12
	54	Series 2262, Class Z, 7.500%, 10/15/30		64
	485	Series 2271, Class PC, 7.250%, 12/15/30		570
	754	Series 2283, Class K, 6.500%, 12/15/23		844
	234	Series 2296, Class PD, 7.000%, 03/15/31		275
	74	Series 2306, Class K, PO, 05/15/24		67
	174	Series 2306, Class SE, IF, IO, 8.810%, 05/15/24		38
	354	Series 2313, Class LA, 6.500%, 05/15/31		406
	470	Series 2325, Class PM, 7.000%, 06/15/31		514
	648	Series 2344, Class QG, 6.000%, 08/15/16		687
	2,696	Series 2344, Class ZD, 6.500%, 08/15/31		2,966
	257	Series 2344, Class ZJ, 6.500%, 08/15/31		283
	208	Series 2345, Class NE, 6.500%, 08/15/31		216
	198	Series 2345, Class PQ, 6.500%, 08/15/16		203
	260	Series 2351, Class PZ, 6.500%, 08/15/31		292
	2,285	Series 2353, Class AZ, 6.000%, 09/15/31		2,537
	250	Series 2353, Class TD, 6.000%, 09/15/16		268
	219	Series 2355, Class BP, 6.000%, 09/15/16		233
	141	Series 2359, Class PM, 6.000%, 09/15/16		151
	970	Series 2359, Class ZB, 8.500%, 06/15/31		1,144
	409	Series 2360, Class PG, 6.000%, 09/15/16		435
	91	Series 2363, Class PF, 6.000%, 09/15/16		96
	171	Series 2366, Class MD, 6.000%, 10/15/16		181
	423	Series 2367, Class ME, 6.500%, 10/15/31		459
	624	Series 2391, Class QR, 5.500%, 12/15/16		661
	250	Series 2394, Class MC, 6.000%, 12/15/16		266
	833	Series 2396, Class FM, VAR, 0.658%, 12/15/31		839
	505	Series 2399, Class OH, 6.500%, 01/15/32		556
	878	Series 2399, Class TH, 6.500%, 01/15/32		967
	746	Series 2410, Class NG, 6.500%, 02/15/32		827
	275	Series 2410, Class OE, 6.375%, 02/15/32		301
	549	Series 2410, Class QS, IF, 18.959%, 02/15/32		822
	255	Series 2410, Class QX, IF, IO, 8.442%, 02/15/32		71
	590	Series 2412, Class SP, IF, 15.684%, 02/15/32		837
	982	Series 2420, Class XK, 6.500%, 02/15/32		1,077
	637	Series 2423, Class MC, 7.000%, 03/15/32		750
	596	Series 2423, Class MT, 7.000%, 03/15/32		667
	247	Series 2425, Class OB, 6.000%, 03/15/17		264
	1,367	Series 2430, Class WF, 6.500%, 03/15/32		1,579
	741	Series 2434, Class TC, 7.000%, 04/15/32		848
	565	Series 2435, Class CJ, 6.500%, 04/15/32		651
	604	Series 2436, Class MC, 7.000%, 04/15/32		704
	479	Series 2444, Class ES, IF, IO, 7.742%, 03/15/32		110
	319	Series 2450, Class GZ, 7.000%, 05/15/32		376
	383	Series 2450, Class SW, IF, IO, 7.792%, 03/15/32		89
	1,879	Series 2455, Class GK, 6.500%, 05/15/32		2,167

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	157	Series 2458, Class QE, 5.500%, 06/15/17		166
	612	Series 2462, Class JG, 6.500%, 06/15/32		707
	1,554	Series 2464, Class SI, IF, IO, 7.792%, 02/15/32		312
	250	Series 2466, Class PG, 6.500%, 04/15/32		258
	942	Series 2466, Class PH, 6.500%, 06/15/32		1,070
	633	Series 2474, Class NR, 6.500%, 07/15/32		712
	841	Series 2484, Class LZ, 6.500%, 07/15/32		970
	1,351	Series 2500, Class MC, 6.000%, 09/15/32		1,503
	97	Series 2503, Class BH, 5.500%, 09/15/17		104
	428	Series 2508, Class AQ, 5.500%, 10/15/17		459
	930	Series 2512, Class PG, 5.500%, 10/15/22		1,027
	142	Series 2515, Class DE, 4.000%, 03/15/32		143
	482	Series 2535, Class BK, 5.500%, 12/15/22		534
	839	Series 2537, Class TE, 5.500%, 12/15/17		899
	1,693	Series 2543, Class YX, 6.000%, 12/15/32		1,916
	1,501	Series 2544, Class HC, 6.000%, 12/15/32		1,697
	1,991	Series 2552, Class ME, 6.000%, 01/15/33		2,254
	1,481	Series 2567, Class QD, 6.000%, 02/15/33		1,671
	1,302	Series 2568, Class KG, 5.500%, 02/15/23		1,427
	169	Series 2571, Class SK, HB,IF, 33.603%, 09/15/23		324
	3,767	Series 2575, Class ME, 6.000%, 02/15/33		4,294
	521	Series 2586, Class WI, IO, 6.500%, 03/15/33		104
	1,636	Series 2587, Class WX, 5.000%, 03/15/18		1,763
	1,250	Series 2596, Class QG, 6.000%, 03/15/33		1,397
	56	Series 2597, Class DS, IF, IO, 7.342%, 02/15/33		2
	51	Series 2599, Class DS, IF, IO, 6.792%, 02/15/33		1
	64	Series 2610, Class DS, IF, IO, 6.892%, 03/15/33		1
	585	Series 2611, Class UH, 4.500%, 05/15/18		612
	1,038	Series 2617, Class GR, 4.500%, 05/15/18		1,105
	23	Series 2619, Class HR, 3.500%, 11/15/31		23
	1,381	Series 2626, Class NS, IF, IO, 6.342%, 06/15/23		100
	1,238	Series 2631, Class LC, 4.500%, 06/15/18		1,311
	593	Series 2636, Class Z, 4.500%, 06/15/18		626
	695	Series 2637, Class SA, IF, IO, 5.892%, 06/15/18		71
	74	Series 2638, Class DS, IF, 8.392%, 07/15/23		83
	327	Series 2640, Class UG, IO, 5.000%, 01/15/32		9
	588	Series 2640, Class UP, IO, 5.000%, 01/15/32		13
	1	Series 2640, Class UR, IO, 4.500%, 08/15/17		—	(h)
	1,719	Series 2645, Class BI, IO, 4.500%, 02/15/18		54
	573	Series 2650, Class PO, PO, 12/15/32		562
	1,973	Series 2650, Class SO, PO, 12/15/32		1,936
	888	Series 2651, Class VZ, 4.500%, 07/15/18		939
	1,414	Series 2672, Class ME, 5.000%, 11/15/22		1,479
	3,821	Series 2675, Class CK, 4.000%, 09/15/18		4,024
	40	Series 2682, Class YS, IF, 8.682%, 10/15/33		40
	9,781	Series 2684, Class PO, PO, 01/15/33		9,677
	99	Series 2690, Class SJ, IF, 8.838%, 10/15/33		101
	1,119	Series 2691, Class ME, 4.500%, 04/15/32		1,146
	294	Series 2692, Class SC, IF, 12.871%, 07/15/33		346
	1,218	Series 2695, Class DG, 4.000%, 10/15/18		1,284
	10	Series 2695, Class OB, PO, 10/15/33		10
	137	Series 2696, Class CO, PO, 10/15/18		136

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	24	Series 2700, Class S, IF, 8.688%, 11/15/33		24
	753	Series 2702, Class PC, 5.000%, 01/15/23		791
	2,000	Series 2710, Class HB, 5.500%, 11/15/23		2,265
	1,352	Series 2715, Class OG, 5.000%, 01/15/23		1,403
	1,852	Series 2716, Class UN, 4.500%, 12/15/23		2,016
	931	Series 2720, Class PC, 5.000%, 12/15/23		1,019
	1,113	Series 2744, Class PE, 5.500%, 02/15/34		1,196
	1,607	Series 2744, Class TU, 5.500%, 05/15/32		1,707
	87	Series 2755, Class PA, PO, 02/15/29		87
	501	Series 2755, Class SA, IF, 13.784%, 05/15/30		534
	578	Series 2764, Class TE, 5.000%, 10/15/32		597
	766	Series 2777, Class OM, PO, 12/15/32		753
	102	Series 2780, Class JG, 4.500%, 04/15/19		104
	1,284	Series 2783, Class AT, 4.000%, 04/15/19		1,381
	4,966	Series 2809, Class UC, 4.000%, 06/15/19		5,234
	25	Series 2812, Class NO, PO, 10/15/33		25
	529	Series 2827, Class XO, PO, 01/15/23		519
	148	Series 2835, Class QO, PO, 12/15/32		139
	444	Series 2840, Class JO, PO, 06/15/23		431
	353	Series 2850, Class SN, IF, IO, 6.942%, 09/15/18		12
	567	Series 2872, Class JE, 4.500%, 02/15/18		572
	874	Series 2922, Class JN, 4.500%, 02/15/20		904
	1,153	Series 2934, Class EC, PO, 02/15/20		1,113
	59	Series 2934, Class EN, PO, 02/15/18		58
	961	Series 2934, Class HI, IO, 5.000%, 02/15/20		99
	955	Series 2934, Class KI, IO, 5.000%, 02/15/20		78
	856	Series 2958, Class QD, 4.500%, 04/15/20		916
	1,500	Series 2962, Class BE, 4.500%, 04/15/20		1,640
	3,425	Series 2965, Class GD, 4.500%, 04/15/20		3,725
	641	Series 2971, Class GC, 5.000%, 07/15/18		658
	210	Series 2989, Class PO, PO, 06/15/23		204
	4,281	Series 3004, Class EK, 5.500%, 07/15/35		4,474
	107	Series 3007, Class AI, IO, 5.500%, 07/15/24		5
	144	Series 3014, Class OD, PO, 08/15/35		138
	1,241	Series 3047, Class OB, 5.500%, 12/15/33		1,288
	944	Series 3047, Class OD, 5.500%, 10/15/35		1,170
	951	Series 3049, Class XF, VAR, 0.558%, 05/15/33		955
	3,095	Series 3064, Class MC, 5.500%, 11/15/35		3,783
	317	Series 3068, Class AO, PO, 01/15/35		309
	755	Series 3068, Class QB, 4.500%, 06/15/20		783
	2,141	Series 3074, Class BH, 5.000%, 11/15/35		2,457
	1,108	Series 3085, Class WF, VAR, 1.008%, 08/15/35		1,120
	116	Series 3100, Class MA, VAR, 0.285%, 12/15/35		115
	1,565	Series 3102, Class FB, VAR, 0.508%, 01/15/36		1,571
	356	Series 3102, Class HS, HB,IF, 23.804%, 01/15/36		520
	1,650	Series 3117, Class EO, PO, 02/15/36		1,590
	975	Series 3117, Class OK, PO, 02/15/36		951
	135	Series 3122, Class ZB, 6.000%, 03/15/36		143
	2,750	Series 3131, Class BK, 5.500%, 03/15/26		3,114
	356	Series 3134, Class PO, PO, 03/15/36		338
	1,673	Series 3138, Class PO, PO, 04/15/36		1,609
	70	Series 3149, Class SO, PO, 05/15/36		63
	1,889	Series 3151, Class UC, 5.500%, 08/15/35		2,008
	970	Series 3152, Class MO, PO, 03/15/36		907
	274	Series 3171, Class MO, PO, 06/15/36		259

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	1,764	Series 3179, Class OA, PO, 07/15/36		1,696
	712	Series 3194, Class SA, IF, IO, 6.892%, 07/15/36		97
	1,093	Series 3211, Class SO, PO, 09/15/36		1,030
	568	Series 3218, Class AO, PO, 09/15/36		536
	1,700	Series 3219, Class DI, IO, 6.000%, 04/15/36		240
	1,500	Series 3229, Class HE, 5.000%, 10/15/26		1,711
	1,438	Series 3232, Class ST, IF, IO, 6.492%, 10/15/36		240
	659	Series 3233, Class OP, PO, 05/15/36		627
	1,221	Series 3242, Class NE, 5.750%, 02/15/34		1,260
	687	Series 3256, Class PO, PO, 12/15/36		641
	1,482	Series 3260, Class CS, IF, IO, 5.932%, 01/15/37		230
	729	Series 3261, Class OA, PO, 01/15/37		692
	769	Series 3274, Class JO, PO, 02/15/37		739
	448	Series 3275, Class FL, VAR, 0.648%, 02/15/37		450
	2,235	Series 3290, Class SB, IF, IO, 6.242%, 03/15/37		353
	2,780	Series 3315, Class HZ, 6.000%, 05/15/37		3,227
	1,995	Series 3316, Class GD, 5.500%, 06/15/35		2,050
	172	Series 3318, Class AO, PO, 05/15/37		167
	388	Series 3326, Class JO, PO, 06/15/37		373
	1,096	Series 3331, Class PO, PO, 06/15/37		1,059
	1,339	Series 3385, Class SN, IF, IO, 5.792%, 11/15/37		141
	1,456	Series 3387, Class SA, IF, IO, 6.212%, 11/15/37		221
	2,065	Series 3404, Class SC, IF, IO, 5.792%, 01/15/38		277
	6,352	Series 3422, Class AI, IO, SUB, 0.250%, 01/15/38		46
	1,681	Series 3424, Class PI, IF, IO, 6.592%, 04/15/38		254
	2,173	Series 3481, Class SJ, IF, IO, 5.642%, 08/15/38		320
	2,176	Series 3505, Class SA, IF, IO, 5.792%, 01/15/39		312
	2,481	Series 3511, Class SA, IF, IO, 5.792%, 02/15/39		357
	1,065	Series 3549, Class FA, VAR, 1.408%, 07/15/39		1,084
	898	Series 3607, Class BO, PO, 04/15/36		854
	1,500	Series 3607, Class OP, PO, 07/15/37		1,400
	1,004	Series 3607, Class PO, PO, 05/15/37		979
	378	Series 3611, Class PO, PO, 07/15/34		358
	945	Series 3621, Class BO, PO, 01/15/40		913
	987	Series 3720, Class A, 4.500%, 09/15/25		1,063
	3,146	Series 3739, Class LI, IO, 4.000%, 03/15/34		160
	7,978	Series 3747, Class HI, IO, 4.500%, 07/15/37		592
	1,000	Series 3747, Class PY, 4.000%, 10/15/40		1,126
	4,207	Series 3759, Class HI, IO, 4.000%, 08/15/37		281
	4,539	Series 3760, Class GI, IO, 4.000%, 10/15/37		312
	412	Series 3798, Class BF, VAR, 0.508%, 06/15/24		413
	1,917	Series 3804, Class FN, VAR, 0.658%, 03/15/39		1,927
	5,524	Series 3819, Class ZQ, 6.000%, 04/15/36		6,455
	926	Series 3852, Class QN, IF, 5.500%, 05/15/41		1,005
	2,607	Series 3852, Class TP, IF, 5.500%, 05/15/41		2,745
	3,000	Series 3920, Class LP, 5.000%, 01/15/34		3,381
	1,525	Series 3957, Class B, 4.000%, 11/15/41		1,641
	1,865	Series 3966, Class NA, 4.000%, 12/15/41		2,027
	1,564	Series 3997, Class PF, VAR, 0.658%, 11/15/39		1,572
	4,458	Series 4048, Class FJ, VAR, 0.612%, 07/15/37		4,478
		Federal Home Loan Mortgage Corp. STRIPS,
	3	Series 134, Class B, IO, 9.000%, 04/01/22		1
	2,830	Series 233, Class 11, IO, 5.000%, 09/15/35		332
	4,016	Series 233, Class 13, IO, 5.000%, 09/15/35		485

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	729		Series 243, Class 16, IO, 4.500%, 11/15/20		60
	1,622		Series 243, Class 17, IO, 4.500%, 12/15/20		136
	9,465		Series 262, Class 35, 3.500%, 07/15/42		10,239
	1,983		Series 264, Class F1, VAR, 0.758%, 07/15/42		1,989
	2,475		Series 267, Class F5, VAR, 0.708%, 08/15/42		2,488
			Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	658		Series T-41, Class 3A, VAR, 6.804%, 07/25/32		760
	389		Series T-51, Class 2A, VAR, 7.500%, 08/25/42		466
	2,243		Series T-54, Class 2A, 6.500%, 02/25/43		2,670
	670		Series T-54, Class 3A, 7.000%, 02/25/43		804
	286		Series T-58, Class APO, PO, 09/25/43		268
	639		Series T-59, Class 1AP, PO, 10/25/43		547
	2,369		Series T-76, Class 2A, VAR, 3.445%, 10/25/37		2,417
			Federal National Mortgage Association,
	3,000		0.000%, 12/01/22		3,068
	1,669		0.000%, 01/01/43		1,684
	1,108		0.000%, 01/25/53		1,221
	5,000		0.000%, 01/20/63		4,997
			Federal National Mortgage Association - ACES,
	3,300		Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		3,847
	1,416		Series 2011-M2, Class A2, 3.645%, 07/25/21		1,586
	8,500		Series 2011-M2, Class A3, 3.764%, 07/25/21		9,603
	1,352		Series 2012-M11, Class FA, VAR, 0.712%, 08/25/19		1,364
			Federal National Mortgage Association Grantor Trust,
	1,093		Series 2002-T19, Class A2, 7.000%, 07/25/42		1,323
	957		Series 2004-T3, Class 1A3, 7.000%, 02/25/44		1,118
			Federal National Mortgage Association REMIC Trust,
	1,139		Series 2003-W1, Class 1A1, VAR, 6.189%, 12/25/42		1,324
	429		Series 2003-W1, Class 2A, VAR, 6.965%, 12/25/42		505
	189		Series 2003-W4, Class 2A, VAR, 6.468%, 10/25/42		213
	156		Series 2007-W7, Class 1A4, HB,IF, 37.935%, 07/25/37		271
	3,206		Series 2009-W1, Class A, 6.000%, 12/25/49		3,676
			Federal National Mortgage Association REMICS,
	7		Series 1988-7, Class Z, 9.250%, 04/25/18		8
	18		Series 1989-70, Class G, 8.000%, 10/25/19		20
	6		Series 1989-78, Class H, 9.400%, 11/25/19		7
	11		Series 1989-83, Class H, 8.500%, 11/25/19		13
	10		Series 1989-89, Class H, 9.000%, 11/25/19		12
	11		Series 1990-1, Class D, 8.800%, 01/25/20		12
	2		Series 1990-60, Class K, 5.500%, 06/25/20		2
	4		Series 1990-63, Class H, 9.500%, 06/25/20		5
	3		Series 1990-93, Class G, 5.500%, 08/25/20		3
	–	(h)	Series 1990-94, Class H, HB, 505.000%, 08/25/20		1
	–	(h)	Series 1990-95, Class J, HB, 1,118.040%, 08/25/20		2
	23		Series 1990-102, Class J, 6.500%, 08/25/20		25
	29		Series 1990-120, Class H, 9.000%, 10/25/20		33
	3		Series 1990-134, Class SC, HB,IF, 21.272%, 11/25/20		5
	–	(h)	Series 1990-140, Class K, HB, 652.145%, 12/25/20		4
	–	(h)	Series 1991-7, Class K, HB, 908.500%, 02/25/21		1
	12		Series 1991-24, Class Z, 5.000%, 03/25/21		13
	1		Series 1992-101, Class J, 7.500%, 06/25/22		1

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	55	Series 1992-136, Class PK, 6.000%, 08/25/22		60
	47	Series 1992-143, Class MA, 5.500%, 09/25/22		52
	136	Series 1992-163, Class M, 7.750%, 09/25/22		156
	212	Series 1992-188, Class PZ, 7.500%, 10/25/22		243
	89	Series 1993-21, Class KA, 7.700%, 03/25/23		102
	152	Series 1993-25, Class J, 7.500%, 03/25/23		175
	35	Series 1993-27, Class SA, IF, 15.500%, 02/25/23		50
	54	Series 1993-62, Class SA, IF, 18.111%, 04/25/23		76
	28	Series 1993-165, Class SD, IF, 12.654%, 09/25/23		35
	60	Series 1993-165, Class SK, IF, 12.500%, 09/25/23		75
	40	Series 1993-179, Class SB, HB,IF, 25.209%, 10/25/23		64
	27	Series 1993-179, Class SC, IF, 10.500%, 10/25/23		32
	94	Series 1993-199, Class FA, VAR, 0.769%, 10/25/23		94
	76	Series 1993-205, Class H, PO, 09/25/23		70
	31	Series 1993-220, Class SG, IF, 15.563%, 11/25/13		33
	123	Series 1993-225, Class UB, 6.500%, 12/25/23		134
	41	Series 1993-230, Class FA, VAR, 0.819%, 12/25/23		41
	112	Series 1993-247, Class FE, VAR, 1.219%, 12/25/23		115
	52	Series 1993-247, Class SU, IF, 11.912%, 12/25/23		71
	144	Series 1993-250, Class Z, 7.000%, 12/25/23		150
	58	Series 1993-257, Class C, PO, 06/25/23		58
	455	Series 1994-37, Class L, 6.500%, 03/25/24		524
	2,134	Series 1994-40, Class Z, 6.500%, 03/25/24		2,383
	86	Series 1995-2, Class Z, 8.500%, 01/25/25		100
	269	Series 1995-19, Class Z, 6.500%, 11/25/23		320
	464	Series 1996-14, Class SE, IF, IO, 8.940%, 08/25/23		100
	16	Series 1996-27, Class FC, VAR, 0.719%, 03/25/17		16
	46	Series 1996-59, Class J, 6.500%, 08/25/22		51
	475	Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		21
	35	Series 1997-27, Class J, 7.500%, 04/18/27		40
	62	Series 1997-29, Class J, 7.500%, 04/20/27		71
	384	Series 1997-39, Class PD, 7.500%, 05/20/27		451
	48	Series 1997-42, Class EN, 7.250%, 07/18/27		49
	45	Series 1997-42, Class ZC, 6.500%, 07/18/27		51
	799	Series 1997-61, Class ZC, 7.000%, 02/25/23		908
	140	Series 1997-81, Class PI, IO, 7.000%, 12/18/27		28
	16	Series 1998-4, Class C, PO, 04/25/23		14
	326	Series 1998-36, Class ZB, 6.000%, 07/18/28		362
	158	Series 1998-43, Class SA, IF, IO, 19.430%, 04/25/23		71
	269	Series 1998-66, Class SB, IF, IO, 7.943%, 12/25/28		58
	158	Series 1999-17, Class C, 6.350%, 04/25/29		181
	793	Series 1999-18, Class Z, 5.500%, 04/18/29		880
	222	Series 1999-38, Class SK, IF, IO, 7.842%, 08/25/23		33
	75	Series 1999-52, Class NS, HB,IF, 22.799%, 10/25/23		119
	207	Series 1999-62, Class PB, 7.500%, 12/18/29		244
	654	Series 2000-2, Class ZE, 7.500%, 02/25/30		768
	327	Series 2000-20, Class SA, IF, IO, 8.893%, 07/25/30		90
	50	Series 2000-52, Class IO, IO, 8.500%, 01/25/31		11
	221	Series 2001-4, Class PC, 7.000%, 03/25/21		242
	25	Series 2001-5, Class OW, 6.000%, 03/25/16		25

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	155	Series 2001-7, Class PF, 7.000%, 03/25/31		181
	229	Series 2001-7, Class PR, 6.000%, 03/25/16		235
	207	Series 2001-10, Class PR, 6.000%, 04/25/16		212
	456	Series 2001-30, Class PM, 7.000%, 07/25/31		535
	594	Series 2001-33, Class ID, IO, 6.000%, 07/25/31		124
	457	Series 2001-36, Class DE, 7.000%, 08/25/31		537
	1,042	Series 2001-44, Class MY, 7.000%, 09/25/31		1,223
	184	Series 2001-44, Class PD, 7.000%, 09/25/31		216
	207	Series 2001-44, Class PU, 7.000%, 09/25/31		244
	1,772	Series 2001-48, Class Z, 6.500%, 09/25/21		1,982
	153	Series 2001-49, Class Z, 6.500%, 09/25/31		176
	132	Series 2001-52, Class KB, 6.500%, 10/25/31		152
	246	Series 2001-52, Class XN, 6.500%, 11/25/15		260
	1,575	Series 2001-61, Class Z, 7.000%, 11/25/31		1,849
	150	Series 2001-71, Class MB, 6.000%, 12/25/16		160
	343	Series 2001-71, Class QE, 6.000%, 12/25/16		364
	85	Series 2001-72, Class SX, IF, 16.983%, 12/25/31		117
	522	Series 2001-74, Class MB, 6.000%, 12/25/16		556
	142	Series 2002-1, Class HC, 6.500%, 02/25/22		159
	161	Series 2002-1, Class SA, HB,IF, 24.513%, 02/25/32		257
	112	Series 2002-1, Class UD, HB,IF, 23.734%, 12/25/23		174
	439	Series 2002-2, Class UC, 6.000%, 02/25/17		467
	1,109	Series 2002-3, Class OG, 6.000%, 02/25/17		1,176
	240	Series 2002-7, Class OG, 6.000%, 03/25/17		255
	776	Series 2002-7, Class TG, 6.000%, 03/25/17		823
	256	Series 2002-10, Class SB, IF, 18.702%, 03/25/17		309
	349	Series 2002-11, Class QG, 5.500%, 03/25/17		368
	1,502	Series 2002-13, Class SJ, IF, IO, 1.600%, 03/25/32		90
	24	Series 2002-13, Class ST, IF, 10.000%, 03/25/32		28
	613	Series 2002-18, Class PC, 5.500%, 04/25/17		624
	263	Series 2002-19, Class PE, 6.000%, 04/25/17		279
	56	Series 2002-21, Class LO, PO, 04/25/32		52
	526	Series 2002-21, Class PE, 6.500%, 04/25/32		585
	577	Series 2002-24, Class AJ, 6.000%, 04/25/17		621
	161	Series 2002-25, Class SG, IF, 18.822%, 05/25/17		199
	1,321	Series 2002-28, Class PK, 6.500%, 05/25/32		1,521
	338	Series 2002-37, Class Z, 6.500%, 06/25/32		372
	420	Series 2002-42, Class C, 6.000%, 07/25/17		451
	1,852	Series 2002-48, Class GH, 6.500%, 08/25/32		2,138
	219	Series 2002-55, Class QE, 5.500%, 09/25/17		233
	2,564	Series 2002-56, Class UC, 5.500%, 09/25/17		2,736
	874	Series 2002-62, Class ZE, 5.500%, 11/25/17		935
	250	Series 2002-63, Class KC, 5.000%, 10/25/17		267
	344	Series 2002-77, Class S, IF, 14.103%, 12/25/32		440
	322	Series 2002-81, Class JO, PO, 04/25/32		320
	909	Series 2002-83, Class CS, 6.881%, 08/25/23		1,036
	14	Series 2002-91, Class UH, IO, 5.500%, 06/25/22		—	(h)
	1,911	Series 2002-94, Class BK, 5.500%, 01/25/18		2,034
	923	Series 2003-3, Class HJ, 5.000%, 02/25/18		986
	2,524	Series 2003-22, Class UD, 4.000%, 04/25/33		2,844

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	382	Series 2003-23, Class PG, 5.500%, 01/25/32		385
	18	Series 2003-27, Class DW, 4.500%, 04/25/17		18
	1,852	Series 2003-33, Class IA, IO, 6.500%, 05/25/33		376
	1,293	Series 2003-34, Class AX, 6.000%, 05/25/33		1,456
	1,516	Series 2003-34, Class ED, 6.000%, 05/25/33		1,859
	79	Series 2003-35, Class UC, 3.750%, 05/25/33		84
	246	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		47
	1,319	Series 2003-39, Class LW, 5.500%, 05/25/23		1,501
	1,783	Series 2003-41, Class PE, 5.500%, 05/25/23		1,968
	465	Series 2003-42, Class GB, 4.000%, 05/25/33		505
	169	Series 2003-45, Class AI, IO, 5.500%, 05/25/33		7
	828	Series 2003-47, Class PE, 5.750%, 06/25/33		936
	383	Series 2003-52, Class SX, HB,IF, 22.327%, 10/25/31		621
	1,104	Series 2003-56, Class AZ, 5.500%, 08/25/31		1,120
	251	Series 2003-64, Class SX, IF, 13.220%, 07/25/33		292
	23	Series 2003-68, Class QP, 3.000%, 07/25/22		23
	976	Series 2003-71, Class DS, IF, 7.184%, 08/25/33		1,036
	868	Series 2003-71, Class IM, IO, 5.500%, 12/25/31		52
	1,995	Series 2003-72, Class IE, IO, 5.500%, 08/25/33		281
	209	Series 2003-73, Class GA, 3.500%, 05/25/31		210
	150	Series 2003-74, Class SH, IF, 9.797%, 08/25/33		164
	703	Series 2003-76, Class GQ, 4.500%, 08/25/18		745
	1,695	Series 2003-80, Class SY, IF, IO, 7.442%, 06/25/23		205
	1,174	Series 2003-81, Class LC, 4.500%, 09/25/18		1,253
	2,916	Series 2003-83, Class PG, 5.000%, 06/25/23		3,115
	466	Series 2003-91, Class SD, IF, 12.154%, 09/25/33		562
	2,375	Series 2003-116, Class SB, IF, IO, 7.392%, 11/25/33		506
	2,724	Series 2003-117, Class JB, 3.500%, 06/25/33		2,869
	1,263	Series 2003-122, Class TE, 5.000%, 12/25/22		1,320
	129	Series 2003-128, Class KE, 4.500%, 01/25/14		131
	776	Series 2003-128, Class NG, 4.000%, 01/25/19		818
	279	Series 2003-130, Class SX, IF, 11.209%, 01/25/34		328
	248	Series 2003-132, Class OA, PO, 08/25/33		239
	2,203	Series 2004-4, Class QI, IF, IO, 6.892%, 06/25/33		402
	208	Series 2004-4, Class QM, IF, 13.785%, 06/25/33		263
	1,080	Series 2004-10, Class SC, HB,IF, 27.770%, 02/25/34		1,540
	75	Series 2004-21, Class CO, PO, 04/25/34		75
	45	Series 2004-22, Class A, 4.000%, 04/25/19		45
	1,130	Series 2004-25, Class PC, 5.500%, 01/25/34		1,233
	1,690	Series 2004-25, Class SA, IF, 18.954%, 04/25/34		2,486
	7,708	Series 2004-27, Class HB, 4.000%, 05/25/19		8,228
	753	Series 2004-36, Class PC, 5.500%, 02/25/34		824
	1,914	Series 2004-36, Class SA, IF, 18.954%, 05/25/34		2,820
	817	Series 2004-36, Class SN, IF, 13.785%, 07/25/33		1,000
	4,281	Series 2004-37, Class AG, 4.500%, 11/25/32		4,427
	434	Series 2004-46, Class HS, IF, IO, 5.793%, 05/25/30		5
	836	Series 2004-46, Class QB, HB,IF, 23.170%, 05/25/34		1,208
	2,772	Series 2004-46, Class SK, IF, 15.929%, 05/25/34		3,590
	515	Series 2004-51, Class SY, IF, 13.825%, 07/25/34		688
	560	Series 2004-53, Class NC, 5.500%, 07/25/24		618

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	778	Series 2004-59, Class BG, PO, 12/25/32		730
	1,295	Series 2004-61, Class FH, VAR, 1.007%, 11/25/32		1,313
	171	Series 2004-61, Class SK, IF, 8.500%, 11/25/32		196
	187	Series 2004-70, Class JA, 4.500%, 10/25/19		190
	547	Series 2004-76, Class CL, 4.000%, 10/25/19		577
	867	Series 2004-79, Class SP, IF, 19.229%, 11/25/34		1,232
	242	Series 2004-81, Class AC, 4.000%, 11/25/19		255
	29	Series 2004-92, Class JO, PO, 12/25/34		28
	289	Series 2005-52, Class PA, 6.500%, 06/25/35		312
	2,388	Series 2005-56, Class S, IF, IO, 6.503%, 07/25/35		402
	745	Series 2005-59, Class PC, 5.500%, 03/25/31		749
	483	Series 2005-66, Class SG, IF, 16.856%, 07/25/35		703
	1,022	Series 2005-68, Class BC, 5.250%, 06/25/35		1,130
	2,256	Series 2005-68, Class PG, 5.500%, 08/25/35		2,552
	1,382	Series 2005-68, Class UC, 5.000%, 06/25/35		1,520
	1,006	Series 2005-74, Class CS, IF, 19.449%, 05/25/35		1,453
	9,273	Series 2005-84, Class XM, 5.750%, 10/25/35		10,442
	4,376	Series 2005-97, Class HC, 5.000%, 02/25/32		4,443
	3,425	Series 2005-109, Class PC, 6.000%, 12/25/35		3,942
	4,727	Series 2005-110, Class GJ, 5.500%, 11/25/30		4,775
	14,556	Series 2005-110, Class GK, 5.500%, 08/25/34		15,637
	4,326	Series 2005-110, Class GL, 5.500%, 12/25/35		5,193
	2,997	Series 2005-110, Class MN, 5.500%, 06/25/35		3,323
	1,198	Series 2005-116, Class PB, 6.000%, 04/25/34		1,292
	2,117	Series 2005-118, Class PN, 6.000%, 01/25/32		2,169
	354	Series 2006-15, Class OT, PO, 01/25/36		335
	791	Series 2006-16, Class OA, PO, 03/25/36		746
	944	Series 2006-22, Class AO, PO, 04/25/36		880
	349	Series 2006-23, Class KO, PO, 04/25/36		329
	3,149	Series 2006-39, Class WC, 5.500%, 01/25/36		3,461
	230	Series 2006-42, Class CF, VAR, 0.658%, 06/25/36		232
	2,095	Series 2006-44, Class GO, PO, 06/25/36		1,978
	4,886	Series 2006-44, Class P, PO, 12/25/33		4,670
	2,000	Series 2006-46, Class UC, 5.500%, 12/25/35		2,240
	3,256	Series 2006-53, Class US, IF, IO, 6.373%, 06/25/36		465
	2,496	Series 2006-56, Class FC, VAR, 0.497%, 07/25/36		2,504
	333	Series 2006-56, Class OA, PO, 10/25/24		332
	2,554	Series 2006-56, Class PF, VAR, 0.557%, 07/25/36		2,573
	1,430	Series 2006-56, Class PO, PO, 07/25/36		1,247
	2,253	Series 2006-58, Class AP, PO, 07/25/36		2,128
	224	Series 2006-58, Class FL, VAR, 0.668%, 07/25/36		226
	900	Series 2006-58, Class PO, PO, 07/25/36		850
	1,721	Series 2006-59, Class QO, PO, 01/25/33		1,692
	3,032	Series 2006-60, Class DZ, 6.500%, 07/25/36		3,935
	1,441	Series 2006-65, Class QO, PO, 07/25/36		1,359
	390	Series 2006-72, Class TO, PO, 08/25/36		370
	4,917	Series 2006-77, Class PC, 6.500%, 08/25/36		5,644
	1,127	Series 2006-79, Class DO, PO, 08/25/36		1,059
	780	Series 2006-90, Class AO, PO, 09/25/36		686
	360	Series 2006-109, Class PO, PO, 11/25/36		339
	3,244	Series 2006-110, Class PO, PO, 11/25/36		3,119
	270	Series 2006-111, Class EO, PO, 11/25/36		261
	1,233	Series 2006-118, Class A2, VAR, 0.268%, 12/25/36		1,176

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	483	Series 2006-119, Class PO, PO, 12/25/36		459
	8,471	Series 2006-124, Class HB, VAR, 5.967%, 11/25/36		9,550
	1,000	Series 2006-128, Class BP, 5.500%, 01/25/37		1,193
	1,498	Series 2006-130, Class GI, IO, 6.500%, 07/25/32		255
	3,259	Series 2007-7, Class SG, IF, IO, 6.293%, 08/25/36		537
	5,519	Series 2007-14, Class ES, IF, IO, 6.233%, 03/25/37		879
	398	Series 2007-15, Class NO, PO, 03/25/22		377
	2,268	Series 2007-16, Class FC, VAR, 0.957%, 03/25/37		2,259
	551	Series 2007-42, Class AO, PO, 05/25/37		518
	1,500	Series 2007-46, Class VK, 5.500%, 03/25/22		1,584
	638	Series 2007-48, Class PO, PO, 05/25/37		602
	2,461	Series 2007-54, Class FA, VAR, 0.608%, 06/25/37		2,479
	9,640	Series 2007-60, Class AX, IF, IO, 6.942%, 07/25/37		1,945
	569	Series 2007-77, Class FG, VAR, 0.708%, 03/25/37		575
	1,400	Series 2007-81, Class GE, 6.000%, 08/25/37		1,692
	5,000	Series 2007-84, Class PG, 6.000%, 12/25/36		5,441
	5,463	Series 2007-88, Class VI, IF, IO, 6.333%, 09/25/37		1,027
	3,626	Series 2007-91, Class ES, IF, IO, 6.253%, 10/25/37		685
	2,537	Series 2007-97, Class KI, IO, 7.000%, 05/25/33		545
	4,509	Series 2007-101, Class A2, VAR, 0.457%, 06/27/36		4,492
	1,109	Series 2007-106, Class A7, VAR, 5.969%, 10/25/37		1,239
	3,000	Series 2007-114, Class A6, VAR, 0.407%, 10/27/37		2,984
	2,690	Series 2007-116, Class HI, IO, VAR, 2.276%, 01/25/38		196
	155	Series 2007-118, Class IO, IO, 6.000%, 06/25/36		12
	3,069	Series 2008-1, Class BI, IF, IO, 5.703%, 02/25/38		399
	2,163	Series 2008-10, Class XI, IF, IO, 6.023%, 03/25/38		358
	1,563	Series 2008-16, Class IS, IF, IO, 5.992%, 03/25/38		242
	1,445	Series 2008-19, Class IC, IO, 5.000%, 03/25/23		121
	1,000	Series 2008-24, Class DY, 5.000%, 04/25/23		1,109
	1,316	Series 2008-27, Class SN, IF, IO, 6.693%, 04/25/38		233
	771	Series 2008-39, Class CI, IO, 4.500%, 05/25/18		53
	778	Series 2008-42, Class AO, PO, 09/25/36		750
	111	Series 2008-44, Class PO, PO, 05/25/38		107
	1,424	Series 2008-47, Class SI, IF, IO, 6.293%, 06/25/23		172
	1,825	Series 2008-53, Class CI, IF, IO, 6.992%, 07/25/38		337
	75	Series 2008-59, Class IG, IO, 5.500%, 11/25/34		—	(h)
	796	Series 2008-76, Class GF, VAR, 0.857%, 09/25/23		806
	3,690	Series 2008-80, Class SA, IF, IO, 5.642%, 09/25/38		510
	2,394	Series 2008-81, Class SB, IF, IO, 5.642%, 09/25/38		377
	3,390	Series 2009-6, Class GS, IF, IO, 6.343%, 02/25/39		589
	1,446	Series 2009-9, Class IO, IO, 5.000%, 02/25/24		142
	1,379	Series 2009-18, Class IO, IO, 5.000%, 03/25/24		125
	2,500	Series 2009-19, Class IP, IO, 5.500%, 10/25/36		697
	2,305	Series 2009-60, Class HT, 6.000%, 08/25/39		2,652
	1,657	Series 2009-62, Class HJ, 6.000%, 05/25/39		1,814
	2,396	Series 2009-70, Class CO, PO, 01/25/37		2,344
	2,482	Series 2009-86, Class UI, IO, 4.000%, 10/25/14		107
	1,854	Series 2009-99, Class SC, IF, IO, 5.973%, 12/25/39		205
	1,355	Series 2009-103, Class MB, VAR, 3.247%, 12/25/39		1,456
	2,000	Series 2010-45, Class BD, 4.500%, 11/25/38		2,120

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	2,130		Series 2010-49, Class SC, IF, 12.245%, 03/25/40		2,728
	1,433		Series 2010-64, Class DM, 5.000%, 06/25/40		1,597
	1,695		Series 2010-71, Class HJ, 5.500%, 07/25/40		1,892
	3,539		Series 2010-133, Class A, 5.500%, 05/25/38		3,833
	3,046		Series 2010-148, Class MA, 4.000%, 02/25/39		3,168
	2,802		Series 2011-2, Class WA, VAR, 5.764%, 02/25/51		3,047
	2,386		Series 2011-22, Class MA, 6.500%, 04/25/38		2,663
	6,322		Series 2011-30, Class LS, IO, VAR, 4.478%, 04/25/41		477
	1,270		Series 2011-75, Class FA, VAR, 0.758%, 08/25/41		1,283
	2,401		Series 2011-118, Class MT, 7.000%, 11/25/41		2,959
	3,575		Series 2011-130, Class CA, 6.000%, 12/25/41		3,969
	1,850		Series 2012-14, Class FB, VAR, 0.658%, 08/25/37		1,858
	11,031		Series 2012-47, Class HF, VAR, 0.608%, 05/25/27		11,118
	5,000		Series 2012-137, Class CF, VAR, 0.540%, 08/25/41		4,997
	1		Series G-17, Class S, HB, VAR, 1,058.376%, 06/25/21		12
	35		Series G-28, Class S, IF, 14.881%, 09/25/21		48
	36		Series G-35, Class M, 8.750%, 10/25/21		41
	13		Series G-51, Class SA, HB,IF, 26.547%, 12/25/21		20
	–	(h)	Series G92-27, Class SQ, HB,IF, 1,777.270%, 05/25/22		2
	182		Series G92-35, Class E, 7.500%, 07/25/22		205
	–	(h)	Series G92-35, Class G, HB, 1,184.775%, 07/25/22		5
	22		Series G92-42, Class Z, 7.000%, 07/25/22		25
	649		Series G92-44, Class ZQ, 8.000%, 07/25/22		723
	28		Series G92-52, Class FD, VAR, 0.239%, 09/25/22		28
	223		Series G92-54, Class ZQ, 7.500%, 09/25/22		250
	29		Series G92-59, Class F, VAR, 1.738%, 10/25/22		29
	56		Series G92-61, Class Z, 7.000%, 10/25/22		65
	41		Series G92-62, Class B, PO, 10/25/22		38
	194		Series G93-1, Class KA, 7.900%, 01/25/23		224
	44		Series G93-5, Class Z, 6.500%, 02/25/23		50
	55		Series G93-14, Class J, 6.500%, 03/25/23		61
	132		Series G93-17, Class SI, IF, 6.000%, 04/25/23		143
	123		Series G93-27, Class FD, VAR, 1.099%, 08/25/23		125
	31		Series G93-37, Class H, PO, 09/25/23		28
	56		Series G95-1, Class C, 8.800%, 01/25/25		65
			Federal National Mortgage Association STRIPS,
	3		Series 23, Class 2, IO, 10.000%, 09/01/17		1
	1		Series 50, Class 2, IO, 10.500%, 03/01/19		—	(h)
	19		Series 218, Class 2, IO, 7.500%, 04/01/23		4
	18		Series 265, Class 2, 9.000%, 03/01/24		21
	302		Series 329, Class 1, PO, 01/01/33		284
	881		Series 339, Class 18, IO, 4.500%, 07/01/18		62
	1,254		Series 339, Class 21, IO, 4.500%, 08/25/18		90
	605		Series 339, Class 28, IO, 5.500%, 07/01/18		53
	407		Series 345, Class 6, IO, VAR, 5.000%, 12/01/33		52
	1,274		Series 351, Class 7, IO, VAR, 5.000%, 04/01/34		179
	963		Series 355, Class 11, IO, 6.000%, 07/01/34		170
	512		Series 355, Class 31, IO, VAR, 4.500%, 12/01/18		42
	2,200		Series 365, Class 8, IO, 5.500%, 05/01/36		278
	274		Series 368, Class 3, IO, 4.500%, 11/01/20		21
	1,124		Series 374, Class 5, IO, 5.500%, 08/01/36		142

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	692	Series 383, Class 32, IO, 6.000%, 01/01/38		93
	1,812	Series 383, Class 33, IO, 6.000%, 01/01/38		249
	308	Series 393, Class 6, IO, 5.500%, 04/25/37		36
		Federal National Mortgage Association Trust,
	321	Series 2004-W1, Class 2A2, 7.000%, 12/25/33		387
	1,466	Series 2004-W15, Class 2AF, VAR, 0.457%, 08/25/44		1,458
	1,064	Series 2004-W2, Class 2A2, 7.000%, 02/25/44		1,228
	3,804	Series 2005-W3, Class 2AF, VAR, 0.428%, 03/25/45		3,790
	1,307	Series 2006-W2, Class 1AF1, VAR, 0.428%, 02/25/36		1,301
		Government National Mortgage Association,
	399	Series 1994-4, Class KQ, 7.988%, 07/16/24		482
	2,022	Series 1994-7, Class PQ, 6.500%, 10/16/24		2,373
	268	Series 1998-26, Class K, 7.500%, 09/17/25		309
	1,400	Series 1999-4, Class ZB, 6.000%, 02/20/29		1,600
	1,323	Series 1999-10, Class ZC, 6.500%, 04/20/29		1,559
	165	Series 1999-30, Class S, IF, IO, 8.393%, 08/16/29		34
	18	Series 1999-33, Class SM, IF, 9.200%, 09/16/29		23
	258	Series 1999-40, Class ZW, 7.500%, 11/20/29		307
	370	Series 1999-41, Class Z, 8.000%, 11/16/29		435
	132	Series 1999-44, Class PC, 7.500%, 12/20/29		154
	2,620	Series 1999-44, Class ZC, 8.500%, 12/16/29		3,231
	444	Series 1999-44, Class ZG, 8.000%, 12/20/29		551
	176	Series 2000-9, Class Z, 8.000%, 06/20/30		217
	1,696	Series 2000-9, Class ZJ, 8.500%, 02/16/30		2,121
	302	Series 2000-12, Class ST, HB,IF, 38.440%, 02/16/30		704
	345	Series 2000-14, Class PD, 7.000%, 02/16/30		408
	94	Series 2000-16, Class ZN, 7.500%, 02/16/30		99
	2,357	Series 2000-21, Class Z, 9.000%, 03/16/30		2,797
	428	Series 2000-26, Class TZ, 8.500%, 09/20/30		507
	105	Series 2000-26, Class Z, 7.750%, 09/20/30		123
	19	Series 2000-30, Class ST, IF, 11.050%, 12/16/22		23
	335	Series 2000-31, Class Z, 9.000%, 10/20/30		397
	200	Series 2000-35, Class ZA, 9.000%, 11/20/30		220
	32	Series 2000-36, Class IK, IO, 9.000%, 11/16/30		8
	165	Series 2001-4, Class SJ, IF, IO, 7.943%, 01/19/30		44
	155	Series 2001-6, Class SD, IF, IO, 8.342%, 03/16/31		47
	297	Series 2001-7, Class PK, 6.500%, 03/20/31		318
	16	Series 2001-32, Class WA, IF, 19.606%, 07/20/31		26
	243	Series 2001-35, Class SA, IF, IO, 8.043%, 08/16/31		67
	201	Series 2001-36, Class S, IF, IO, 7.842%, 08/16/31		55
	1,057	Series 2001-64, Class MQ, 6.500%, 12/20/31		1,122
	263	Series 2002-3, Class SP, IF, IO, 7.183%, 01/16/32		78
	360	Series 2002-7, Class PG, 6.500%, 01/20/32		428
	1,071	Series 2002-24, Class AG, IF, IO, 7.742%, 04/16/32		264
	96	Series 2002-24, Class SB, IF, 11.614%, 04/16/32		135
	2,394	Series 2002-31, Class SE, IF, IO, 7.292%, 04/16/30		527
	717	Series 2002-40, Class UK, 6.500%, 06/20/32		851
	39	Series 2002-41, Class SV, IF, 9.000%, 06/16/32		46
	2,687	Series 2002-45, Class QE, 6.500%, 06/20/32		3,136
	932	Series 2002-47, Class PG, 6.500%, 07/16/32		1,103

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	1,711	Series 2002-47, Class ZA, 6.500%, 07/20/32		2,034
	50	Series 2002-51, Class SG, HB,IF, 31.601%, 04/20/31		106
	1,480	Series 2002-52, Class GH, 6.500%, 07/20/32		1,706
	433	Series 2002-54, Class GB, 6.500%, 08/20/32		501
	983	Series 2002-70, Class PS, IF, IO, 7.493%, 08/20/32		113
	949	Series 2002-75, Class PB, 6.000%, 11/20/32		1,196
	163	Series 2003-4, Class NI, IO, 5.500%, 01/20/32		3
	185	Series 2003-4, Class NY, 5.500%, 12/20/13		189
	1,199	Series 2003-11, Class SK, IF, IO, 7.493%, 02/16/33		265
	496	Series 2003-12, Class SP, IF, IO, 7.493%, 02/20/33		114
	111	Series 2003-24, Class PO, PO, 03/16/33		101
	355	Series 2003-40, Class TC, 7.500%, 03/20/33		361
	1,319	Series 2003-40, Class TJ, 6.500%, 03/20/33		1,656
	753	Series 2003-46, Class MG, 6.500%, 05/20/33		957
	1,394	Series 2003-46, Class TC, 6.500%, 03/20/33		1,640
	446	Series 2003-52, Class AP, PO, 06/16/33		417
	2,150	Series 2003-58, Class BE, 6.500%, 01/20/33		2,590
	473	Series 2003-76, Class LS, IF, IO, 6.992%, 09/20/31		20
	134	Series 2003-90, Class PO, PO, 10/20/33		117
	1,661	Series 2003-112, Class SA, IF, IO, 6.343%, 12/16/33		328
	2,411	Series 2003-112, Class TS, IF, IO, 6.743%, 10/20/32		206
	5,015	Series 2004-11, Class SW, IF, IO, 5.293%, 02/20/34		728
	403	Series 2004-15, Class SA, IF, 19.092%, 12/20/32		466
	564	Series 2004-28, Class S, IF, 19.092%, 04/16/34		887
	311	Series 2004-68, Class PO, PO, 05/20/31		306
	229	Series 2004-73, Class AE, IF, 14.427%, 08/17/34		297
	2,872	Series 2004-90, Class SI, IF, IO, 5.893%, 10/20/34		468
	2,033	Series 2005-3, Class SB, IF, IO, 5.893%, 01/20/35		319
	5,041	Series 2005-17, Class SL, IF, IO, 6.492%, 07/20/34		851
	440	Series 2005-35, Class FL, VAR, 0.557%, 03/20/32		442
	220	Series 2005-39, Class KI, IO, 5.500%, 03/20/34		14
	3,196	Series 2005-58, Class NI, IO, 5.500%, 08/20/35		757
	504	Series 2005-68, Class DP, IF, 15.934%, 06/17/35		656
	7,377	Series 2005-68, Class KI, IF, IO, 6.092%, 09/20/35		1,175
	1,201	Series 2005-69, Class SY, IF, IO, 6.542%, 11/20/33		158
	938	Series 2005-91, Class PI, IO, 6.000%, 12/20/35		162
	512	Series 2006-16, Class OP, PO, 03/20/36		480
	293	Series 2006-28, Class GO, PO, 03/20/35		289
	1,658	Series 2006-38, Class SW, IF, IO, 6.293%, 06/20/36		209
	1,729	Series 2006-59, Class SD, IF, IO, 6.492%, 10/20/36		349
	2,976	Series 2006-65, Class SA, IF, IO, 6.593%, 11/20/36		469
	1,679	Series 2007-9, Class DI, IF, IO, 6.302%, 03/20/37		250
	3,772	Series 2007-17, Class JI, IF, IO, 6.603%, 04/16/37		709
	405	Series 2007-17, Class JO, PO, 04/16/37		376
	2,615	Series 2007-19, Class SD, IF, IO, 5.992%, 04/20/37		390
	2,736	Series 2007-26, Class SC, IF, IO, 5.992%, 05/20/37		370
	1,769	Series 2007-27, Class SA, IF, IO, 5.992%, 05/20/37		296
	641	Series 2007-28, Class BO, PO, 05/20/37		602
	61	Series 2007-35, Class TO, PO, 04/20/35		61
	1,488	Series 2007-36, Class SE, IF, IO, 6.262%, 06/16/37		218
	4,303	Series 2007-40, Class SB, IF, IO, 6.542%, 07/20/37		726

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	2,588	Series 2007-42, Class SB, IF, IO, 6.542%, 07/20/37		418
	2,500	Series 2007-47, Class PH, 6.000%, 07/16/37		3,212
	439	Series 2007-49, Class NO, PO, 12/20/35		435
	2,119	Series 2007-50, Class AI, IF, IO, 6.568%, 08/20/37		324
	303	Series 2007-53, Class SW, IF, 19.582%, 09/20/37		466
	1,231	Series 2007-57, Class PO, PO, 03/20/37		1,180
	1,561	Series 2007-57, Class QA, IF, IO, 6.293%, 10/20/37		245
	2,072	Series 2007-71, Class SB, IF, IO, 6.492%, 07/20/36		219
	1,522	Series 2007-72, Class US, IF, IO, 6.343%, 11/20/37		220
	1,539	Series 2007-73, Class MI, IF, IO, 5.793%, 11/20/37		218
	3,028	Series 2007-76, Class SA, IF, IO, 6.323%, 11/20/37		447
	1,548	Series 2007-79, Class SY, IF, IO, 6.343%, 12/20/37		236
	954	Series 2007-81, Class SP, IF, IO, 6.442%, 12/20/37		161
	1,715	Series 2007-82, Class SA, IF, IO, 6.323%, 12/20/37		275
	818	Series 2008-2, Class MS, IF, IO, 6.953%, 01/16/38		132
	2,728	Series 2008-2, Class NS, IF, IO, 6.333%, 01/16/38		396
	1,620	Series 2008-10, Class S, IF, IO, 5.623%, 02/20/38		224
	509	Series 2008-23, Class IO, IO, 6.000%, 02/20/37		34
	1,169	Series 2008-25, Class SB, IF, IO, 6.693%, 03/20/38		206
	1,154	Series 2008-32, Class PI, IO, 5.500%, 10/16/37		138
	2,210	Series 2008-36, Class SH, IF, IO, 6.092%, 04/20/38		354
	9,251	Series 2008-40, Class SA, IF, IO, 6.193%, 05/16/38		1,995
	2,322	Series 2008-41, Class SA, IF, IO, 6.132%, 05/20/38		359
	1,516	Series 2008-55, Class SA, IF, IO, 5.992%, 06/20/38		232
	570	Series 2008-60, Class PO, PO, 01/20/38		558
	2,000	Series 2008-65, Class ME, 5.750%, 09/20/37		2,149
	871	Series 2008-71, Class SC, IF, IO, 5.793%, 08/20/38		117
	1,530	Series 2008-93, Class AS, IF, IO, 5.492%, 12/20/38		219
	2,557	Series 2009-6, Class SA, IF, IO, 5.893%, 02/16/39		386
	1,713	Series 2009-10, Class SL, IF, IO, 6.293%, 03/16/34		171
	3,000	Series 2009-12, Class IE, IO, 5.500%, 03/20/39		625
	1,672	Series 2009-14, Class KI, IO, 6.500%, 03/20/39		316
	1,482	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		282
	4,439	Series 2009-22, Class SA, IF, IO, 6.063%, 04/20/39		619
	1,267	Series 2009-25, Class SE, IF, IO, 7.392%, 09/20/38		221
	1,260	Series 2009-33, Class CI, IO, 5.500%, 05/20/39		151
	1,069	Series 2009-33, Class TI, IO, 6.000%, 05/20/39		169
	848	Series 2009-38, Class IO, IO, 5.000%, 09/16/31		29
	1,983	Series 2009-43, Class SA, IF, IO, 5.743%, 06/20/39		302
	1,639	Series 2009-65, Class IQ, IO, 6.000%, 12/20/38		227
	3,824	Series 2009-72, Class SM, IF, IO, 6.042%, 08/16/39		552
	762	Series 2009-79, Class OK, PO, 11/16/37		728
	700	Series 2010-14, Class CO, PO, 08/20/35		613
	886	Series 2010-130, Class CP, 7.000%, 10/16/40		1,046
	4,597	Series 2010-157, Class OP, PO, 12/20/40		3,990
	3,375	Series 2010-H17, Class XQ, VAR, 5.246%, 07/20/60		4,003
	1,572	Series 2011-22, Class WA, VAR, 5.947%, 02/20/37		1,781
	5,128	Series 2011-75, Class SM, IF, IO, 6.392%, 05/20/41		921
	3,836	Series 2012-61, Class FM, VAR, 0.608%, 05/16/42		3,859
	4,952	Series 2012-H10, Class FA, VAR, 0.764%, 12/20/61		4,968

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	2,955	Series 2012-H15, Class FA, VAR, 0.664%, 05/20/62		2,952
	3,472	Series 2012-H21, Class CF, VAR, 0.915%, 05/20/61		3,499
	2,998	Series 2012-H21, Class DF, VAR, 0.865%, 05/20/61		3,020
	4,998	Series 2012-H22, Class FD, VAR, 0.685%, 01/20/61		5,004
	1,889	Series 2012-H24, Class FA, VAR, 0.664%, 03/20/60		1,889
	4,000	Series 2012-H24, Class FG, VAR, 0.645%, 04/20/60		3,999
	2,020	Series 2012-H26, Class MA, VAR, 0.760%, 07/20/62		2,020
	3,004	Series 2012-H28, Class FA, VAR, 0.810%, 09/20/62		3,004
		NCUA Guaranteed Notes Trust,
	17,000	Series 2010-C1, Class A2, 2.900%, 10/29/20		18,203
	10,446	Series 2010-C1, Class APT, 2.650%, 10/29/20		11,062
		Vendee Mortgage Trust,
	592	Series 1994-1, Class 1, VAR, 5.629%, 02/15/24		672
	1,032	Series 1994-1, Class 2ZB, 6.500%, 02/15/24		1,171
	887	Series 1996-1, Class 1Z, 6.750%, 02/15/26		1,038
	646	Series 1996-2, Class 1Z, 6.750%, 06/15/26		766
	1,251	Series 1997-1, Class 2Z, 7.500%, 02/15/27		1,485
	1,493	Series 1998-1, Class 2E, 7.000%, 03/15/28		1,792
	2,867	Series 1999-1, Class 2Z, 6.500%, 01/15/29		3,429
				760,213
		Non-Agency CMO — 11.0%
	529	AAM ACE Resecuritization Trust, Series 2011-1, Class A20, VAR, 0.478%, 02/02/37 (e)		512
	498	ABN AMRO Mortgage Corp., Series 2003-8, Class A3, 4.500%, 06/25/33		503
		American General Mortgage Loan Trust,
	2,786	Series 2009-1, Class A4, VAR, 5.750%, 09/25/48 (e)		2,799
	2,775	Series 2009-1, Class A5, VAR, 5.750%, 09/25/48 (e)		2,828
	4,500	Series 2009-1, Class A7, VAR, 5.750%, 09/25/48 (e)		4,691
	873	Series 2010-1A, Class A1, VAR, 5.150%, 03/25/58 (e)		901
	718	Series 2010-1A, Class A2, VAR, 5.650%, 03/25/58 (e)		763
	1,140	Series 2010-1A, Class A3, VAR, 5.650%, 03/25/58 (e)		1,208
	473	Series 2010-1A, Class A4, VAR, 5.650%, 03/25/58 (e)		504
	7,278	American Home Mortgage Investment Trust, Series 2005-3, Class 2A4, VAR, 2.152%, 09/25/35		3,822
		ASG Resecuritization Trust,
	1,063	Series 2009-1, Class A60, VAR, 2.467%, 06/26/37 (e)		1,055
	1,733	Series 2009-2, Class A55, VAR, 5.171%, 05/24/36 (e)		1,764
	1,000	Series 2009-2, Class G60, VAR, 5.171%, 05/24/36 (e)		1,025
	4,796	Series 2009-3, Class A65, VAR, 2.571%, 03/26/37 (e)		4,794
	4,802	Series 2009-4, Class A60, 6.000%, 06/28/37 (e)		4,935
	1,241	Series 2010-2, Class A60, VAR, 2.105%, 01/28/37 (e)		1,213
	710	Series 2010-3, Class 2A22, VAR, 0.400%, 10/28/36 (e)		704
	945	Series 2011-1, Class 3A50, VAR, 2.730%, 11/28/35 (e) (i)		922
		Banc of America Alternative Loan Trust,
	238	Series 2003-2, Class PO, PO, 04/25/33		186
	533	Series 2003-9, Class 1CB2, 5.500%, 11/25/33		545
	401	Series 2003-11, Class PO, PO, 01/25/34		311
	246	Series 2004-6, Class 15PO, PO, 07/25/19		216
	1,849	Series 2005-5, Class 1CB1, 5.500%, 06/25/35		1,739
	5,433	Series 2005-6, Class CBIO, IO, 5.500%, 07/25/35		874
	1,708	Series 2006-4, Class 1A4, 6.000%, 05/25/46		1,156
		Banc of America Funding Corp.,
	543	Series 2004-1, Class PO, PO, 03/25/34		427
	903	Series 2004-2, Class 30PO, PO, 09/20/34		815

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	544	Series 2004-C, Class 1A1, VAR, 5.056%, 12/20/34		548
	1,242	Series 2005-6, Class 2A7, 5.500%, 10/25/35		1,271
	838	Series 2005-7, Class 30PO, PO, 11/25/35		657
	543	Series 2005-8, Class 30PO, PO, 01/25/36		408
	1,974	Series 2005-E, Class 4A1, VAR, 2.668%, 03/20/35		1,949
	700	Series 2006-A, Class 3A2, VAR, 2.960%, 02/20/36		501
	1,304	Series 2010-R5, Class 1A1, 5.500%, 10/26/37 (e)		1,359
	2,983	Series 2012-R6, Class 1A1, 3.000%, 10/26/39 (e) (i)		2,983
		Banc of America Mortgage Trust,
	211	Series 2003-3, Class 2A1, VAR, 0.758%, 05/25/18		201
	259	Series 2003-6, Class 2A1, VAR, 0.658%, 08/25/18		248
	92	Series 2003-7, Class A2, 4.750%, 09/25/18		96
	265	Series 2003-8, Class APO, PO, 11/25/33		223
	2,182	Series 2004-3, Class 15IO, IO, VAR, 0.263%, 04/25/19		10
	113	Series 2004-4, Class APO, PO, 05/25/34		98
	3,023	Series 2004-5, Class 2A2, 5.500%, 06/25/34		3,122
	671	Series 2004-6, Class 2A5, PO, 07/25/34		504
	496	Series 2004-6, Class APO, PO, 07/25/34		462
	52	Series 2004-8, Class 5PO, PO, 05/25/32		48
	55	Series 2004-8, Class XPO, PO, 10/25/34		50
	364	Series 2004-A, Class 2A2, VAR, 2.966%, 02/25/34		363
	1,334	Series 2004-J, Class 3A1, VAR, 3.230%, 11/25/34		1,281
	1,803	Series 2005-10, Class 1A6, 5.500%, 11/25/35		1,797
	367	Series 2005-A, Class 2A1, VAR, 3.002%, 02/25/35		350
		BCAP LLC Trust,
	775	Series 2009-RR13, Class 17A2, VAR, 5.500%, 04/26/37 (e)		763
	864	Series 2009-RR5, Class 8A1, 5.500%, 11/26/34 (e)		890
	984	Series 2010-RR12, Class 2A5, VAR, 4.500%, 01/26/36 (e)		1,002
	721	Series 2010-RR4, Class 12A1, VAR, 4.000%, 07/26/36 (e) (i)		720
	132	Series 2010-RR4, Class 2A1, VAR, 0.957%, 06/26/37 (e)		131
	1,088	Series 2010-RR6, Class 22A3, VAR, 4.897%, 06/26/36 (e)		1,107
	403	Series 2010-RR6, Class 5A1, VAR, 3.926%, 11/26/37 (e)		402
	590	Series 2010-RR7, Class 15A1, VAR, 1.007%, 01/26/36 (e)		563
	1,023	Series 2010-RR7, Class 16A1, VAR, 0.860%, 02/26/47 (e)		984
	695	Series 2010-RR7, Class 1A5, VAR, 5.001%, 04/26/35 (e)		681
	2,548	Series 2010-RR7, Class 2A1, VAR, 2.521%, 07/26/45 (e)		2,415
	670	Series 2010-RR8, Class 3A3, VAR, 5.062%, 05/26/35 (e)		677
	1,500	Series 2010-RR8, Class 3A4, VAR, 5.062%, 05/26/35 (e)		1,382
	1,951	Series 2011-R11, Class 25A5, VAR, 4.000%, 08/26/21 (e)		1,981
	2,805	Series 2011-RR10, Class 2A1, VAR, 3.223%, 09/26/37 (e)		2,492
	2,181	Series 2011-RR4, Class 6A3, VAR, 5.000%, 08/26/37 (e) (i)		2,125
	3,034	Series 2011-RR5, Class 11A3, VAR, 0.358%, 05/28/36 (e)		2,708
	1,672	Series 2011-RR5, Class 14A3, VAR, 2.917%, 07/26/36 (e) (i)		1,621
	1,995	Series 2012-RR10, Class 3A105/26/36 (i)		1,845
	2,814	Series 2012-RR2, Class 1A1, VAR, 0.377%, 08/26/36 (e) (i)		2,687
	2,102	Series 2012-RR3, Class 2A5, 4.930%, 05/26/37 (e)		2,074
		Bear Stearns ARM Trust,
	261	Series 2003-7, Class 3A, VAR, 2.732%, 10/25/33		262
	946	Series 2004-1, Class 12A1, VAR, 3.007%, 04/25/34		897
	393	Series 2004-2, Class 14A, VAR, 5.095%, 05/25/34		404
	2,359	Series 2005-5, Class A1, VAR, 2.240%, 08/25/35		2,373
	5,066	Series 2006-1, Class A1, VAR, 2.370%, 02/25/36		4,840

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
		Citicorp Mortgage Securities, Inc.,
	1,029	Series 2004-1, Class 3A1, 4.750%, 01/25/34		1,045
	647	Series 2004-5, Class 2A5, 4.500%, 08/25/34		669
	248	Series 2005-5, Class APO, PO, 08/25/35		229
	281	Series 2005-8, Class APO, PO, 11/25/35		215
		Citigroup Mortgage Loan Trust,
	1,764	Series 2008-AR4, Class 1A1A, VAR, 3.023%, 11/25/38 (e)		1,797
	866	Series 2009-10, Class 2A1A, 7.000%, 12/25/35 (e)		911
	9,555	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		9,925
	10,292	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		10,771
	655	Series 2011-3, Class 1A1, VAR, 0.287%, 02/25/47 (e)		650
	680	Series 2011-10, Class 4A1, VAR, 0.401%, 02/25/46 (e) (i)		648
		Citigroup Mortgage Loan Trust, Inc.,
	568	Series 2003-1, Class 2A5, 5.250%, 10/25/33		580
	294	Series 2003-1, Class 2A6, PO, 10/25/33		265
	238	Series 2003-1, Class PO2, PO, 10/25/33		223
	178	Series 2003-1, Class PO3, PO, 09/25/33		161
	124	Series 2003-UP3, Class A3, 7.000%, 09/25/33		128
	592	Series 2003-UST1, Class A1, 5.500%, 12/25/18		619
	120	Series 2003-UST1, Class PO1, PO, 12/25/18		113
	67	Series 2003-UST1, Class PO3, PO, 12/25/18		63
	266	Series 2004-UST1, Class A6, VAR, 5.085%, 08/25/34		271
	487	Series 2005-1, Class 2A1A, VAR, 2.889%, 04/25/35		324
	729	Series 2005-2, Class 2A11, 5.500%, 05/25/35		747
	594	Series 2005-5, Class 1A2, VAR, 2.960%, 08/25/35		371
		Countrywide Alternative Loan Trust,
	441	Series 2002-8, Class A4, 6.500%, 07/25/32		460
	12,365	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		12,177
	1,670	Series 2004-18CB, Class 2A4, 5.700%, 09/25/34		1,703
	382	Series 2005-5R, Class A1, 5.250%, 12/25/18		385
	3,176	Series 2005-1CB, Class 1A6, IF, IO, 6.892%, 03/25/35		800
	6,166	Series 2005-20CB, Class 3A8, IF, IO, 4.543%, 07/25/35		716
	11,159	Series 2005-22T1, Class A2, IF, IO, 4.862%, 06/25/35		1,825
	6,165	Series 2005-28CB, Class 1A4, 5.500%, 08/25/35		5,818
	218	Series 2005-28CB, Class 3A5, 6.000%, 08/25/35		192
	8,355	Series 2005-37T1, Class A2, IF, IO, 4.843%, 09/25/35		1,339
	5,529	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		4,831
	14,035	Series 2005-54CB, Class 1A2, IF, IO, 4.642%, 11/25/35		2,194
	3,487	Series 2005-57CB, Class 3A2, IF, IO, 4.893%, 12/25/35		622
	2,132	Series 2005-64CB, Class 1A9, 5.500%, 12/25/35		1,831
	9,435	Series 2005-J1, Class 1A4, IF, IO, 4.893%, 02/25/35		1,305
	3,116	Series 2006-26CB, Class A9, 6.500%, 09/25/36		2,219
		Countrywide Home Loan Mortgage Pass-Through Trust,
	1,383	Series 2003-26, Class 1A6, 3.500%, 08/25/33		1,382
	454	Series 2003-44, Class A9, PO, 10/25/33		444
	552	Series 2003-J7, Class 4A3, IF, 9.505%, 08/25/18		582
	712	Series 2004-7, Class 2A1, VAR, 2.992%, 06/25/34		701
	704	Series 2004-8, Class 2A1, 4.500%, 06/25/19		728
	264	Series 2004-HYB1, Class 2A, VAR, 2.900%, 05/20/34		259
	1,026	Series 2004-HYB3, Class 2A, VAR, 2.824%, 06/20/34		967
	837	Series 2004-HYB6, Class A3, VAR, 2.933%, 11/20/34		751
	507	Series 2004-J8, Class 1A2, 4.750%, 11/25/19		521

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	3,385	Series 2005-16, Class A23, 5.500%, 09/25/35		3,362
	4,372	Series 2005-22, Class 2A1, VAR, 3.012%, 11/25/35		3,422
		CS First Boston Mortgage Securities Corp.,
	744	Series 2003-1, Class DB1, 6.564%, 02/25/33		777
	223	Series 2003-17, Class 2A1, 5.000%, 07/25/18		228
	614	Series 2003-21, Class 1A4, 5.250%, 09/25/33		640
	783	Series 2003-25, Class 1P, PO, 10/25/33		708
	84	Series 2004-5, Class 5P, PO, 08/25/19		80
	1,947	Series 2005-4, Class 3A18, 5.500%, 06/25/35		1,923
	2,016	Series 2005-4, Class 3A22, 5.500%, 06/25/35		2,051
	2,166	Series 2005-4, Class 3A23, 5.500%, 06/25/35		2,090
		CSMC,
	18	Series 2009-12R, Class 7A1, 5.500%, 10/27/35 (e)		18
	627	Series 2010-16, Class A3, VAR, 3.819%, 06/25/50 (e)		604
	620	Series 2010-1R, Class 26A1, 4.750%, 05/27/37 (e)		620
	11,368	Series 2010-11R, Class A6, VAR, 1.209%, 06/28/47 (e)		10,814
	571	Series 2010-12R, Class 14A1, VAR, 2.911%, 09/26/46 (e)		570
	96	Series 2010-15R, Class 7A1, VAR, 1.464%, 10/26/37 (e)		95
	250	Series 2010-15R, Class 7A2, VAR, 1.464%, 10/26/37 (e)		242
	3,729	Series 2011-1R, Class A1, VAR, 1.216%, 02/27/47 (e)		3,692
	1,285	Series 2011-6R, Class 3A1, VAR, 2.962%, 07/28/36 (e)		1,233
	4,439	Series 2011-7R, Class A1, VAR, 1.465%, 08/28/47 (e)		4,396
	2,349	Series 2011-9R, Class A1, VAR, 2.216%, 03/27/46 (e)		2,354
	3,344	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		3,421
	1,683	Series 2012-3R, Class 1A1, VAR, 3.250%, 07/27/37 (e)		1,701
		Deutsche Mortgage Securities, Inc.,
	524	Series 2009-RS2, Class 4A1, VAR, 0.341%, 04/26/37 (e)		510
	141	Series 2009-RS3, Class A1, 5.250%, 08/26/35 (e)		141
	327	Series 2010-RS2, Class A1, VAR, 1.462%, 06/28/47 (e)		327
	11	First Boston Mortgage Securities Corp. 1987 STRIPS, Series C, Class PO, PO, 04/25/17		10
		First Horizon Alternative Mortgage Securities,
	1,311	Series 2004-AA4, Class A1, VAR, 2.603%, 10/25/34		1,238
	2,265	Series 2005-FA8, Class 1A19, 5.500%, 11/25/35		2,004
	3,466	Series 2007-FA4, Class 1A2, IF, IO, 5.443%, 08/25/37		635
		First Horizon Mortgage Pass-Through Trust,
	3,307	Series 2003-9, Class 1A6, 5.500%, 11/25/33		3,420
	1,026	Series 2004-AR2, Class 2A1, VAR, 2.626%, 05/25/34		1,015
	88	Series 2004-AR7, Class 2A1, VAR, 2.565%, 02/25/35		88
	1,879	Series 2005-AR1, Class 2A2, VAR, 2.625%, 04/25/35		1,888
	1,396	Freedom Trust, Series 2011-4, Class A18, VAR, 3.813%, 03/25/37 (e)		1,407
		GMAC Mortgage Corp. Loan Trust,
	1,005	Series 2003-AR1, Class A4, VAR, 3.425%, 10/19/33		1,034
	512	Series 2004-J5, Class A7, 6.500%, 01/25/35		528
	243	Series 2004-J6, Class 1A1, 5.000%, 01/25/20		250
	334	Series 2005-AR3, Class 3A3, VAR, 3.560%, 06/19/35		337
	5,565	Series 2005-AR3, Class 3A4, VAR, 3.560%, 06/19/35		5,395
		GSMPS Mortgage Loan Trust,
	1,124	Series 2001-2, Class A, VAR, 7.500%, 06/19/32 (e)		1,183
	1,656	Series 2005-RP3, Class 1AF, VAR, 0.557%, 09/25/35 (e)		1,387
	1,251	Series 2005-RP3, Class 1AS, IO, VAR, 5.022%, 09/25/35 (e)		188

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	5,439	Series 2006-RP2, Class 1AS2, IF, IO, 5.141%, 04/25/36 (e)		883
		GSR Mortgage Loan Trust,
	1,030	Series 2004-6F, Class 3A4, 6.500%, 05/25/34		1,098
	1,264	Series 2004-8F, Class 2A3, 6.000%, 09/25/34		1,323
	12	Series 2004-10F, Class 2A1, 5.000%, 08/25/19		12
	590	Series 2004-13F, Class 3A3, 6.000%, 11/25/34		583
	423	Series 2005-4F, Class AP, PO, 05/25/35		395
	4,836	Series 2005-7F, Class 3A9, 6.000%, 09/25/35		4,916
	5,034	Series 2006-1F, Class 2A4, 6.000%, 02/25/36		4,753
	4,636	Series 2007-1F, Class 2A4, 5.500%, 01/25/37		4,766
	477	Impac CMB Trust, Series 2005-4, Class 2A1, VAR, 0.507%, 05/25/35		470
		Impac Secured Assets Trust,
	935	Series 2006-1, Class 2A1, VAR, 0.557%, 05/25/36		924
	1,330	Series 2006-2, Class 2A1, VAR, 0.557%, 08/25/36		1,331
	19,680	Indymac Index Mortgage Loan Trust, Series 2005-AR11, Class A7, IO, VAR, 08/25/35		—	(h)
		JP Morgan Mortgage Trust,
	2,259	Series 2006-A2, Class 4A1, VAR, 3.014%, 08/25/34		2,279
	2,947	Series 2006-A2, Class 5A3, VAR, 2.913%, 11/25/33		2,984
	546	Series 2006-A3, Class 6A1, VAR, 3.001%, 08/25/34		539
	838	Jp Morgan Resecuritization Trust, Series 2009-6, Class 4A1, VAR, 5.410%, 09/26/36 (e)		830
		Lehman Mortgage Trust,
	967	Series 2006-2, Class 1A1, VAR, 6.465%, 04/25/36		937
	1,783	Series 2008-2, Class 1A6, 6.000%, 03/25/38		1,720
		LVII Resecuritization Trust,
	888	Series 2009-2, Class A5, VAR, 3.000%, 09/27/37 (e)		891
	1,000	Series 2009-3, Class M3, VAR, 5.566%, 11/27/37 (e)		1,064
		MASTR Adjustable Rate Mortgages Trust,
	95	Series 2004-4, Class 2A1, VAR, 2.049%, 05/25/34		77
	1,326	Series 2004-13, Class 2A1, VAR, 2.665%, 04/21/34		1,338
	980	Series 2004-13, Class 3A6, VAR, 2.627%, 11/21/34		983
	2,800	Series 2004-13, Class 3A7, VAR, 2.627%, 11/21/34		2,901
	412	Series 2004-15, Class 3A1, VAR, 3.269%, 12/25/34		391
		MASTR Alternative Loans Trust,
	248	Series 2003-3, Class 1A1, 6.500%, 05/25/33		259
	847	Series 2003-9, Class 8A1, 6.000%, 01/25/34		900
	849	Series 2004-3, Class 2A1, 6.250%, 04/25/34		866
	1,490	Series 2004-4, Class 10A1, 5.000%, 05/25/24		1,548
	633	Series 2004-6, Class 30PO, PO, 07/25/34		559
	900	Series 2004-6, Class 7A1, 6.000%, 07/25/34		916
	455	Series 2004-7, Class 30PO, PO, 08/25/34		343
	1,925	Series 2004-8, Class 6A1, 5.500%, 09/25/19		2,028
	325	Series 2004-10, Class 1A1, 4.500%, 09/25/19		333
		MASTR Asset Securitization Trust,
	132	Series 2003-2, Class 2A1, 4.500%, 03/25/18		135
	28	Series 2003-3, Class 4A1, 5.000%, 04/25/18		28
	190	Series 2003-4, Class 3A2, 5.000%, 05/25/18		195
	212	Series 2003-12, Class 30PO, PO, 12/25/33		197
	138	Series 2004-1, Class 30PO, PO, 02/25/34		110
	82	Series 2004-4, Class 3A1, 4.500%, 04/25/19		84
	106	Series 2004-6, Class 15PO, PO, 07/25/19		100
	183	Series 2004-8, Class 1A1, 4.750%, 08/25/19		189
	79	Series 2004-8, Class PO, PO, 08/25/19		75

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	976	Series 2006-2, Class 1A30, 6.000%, 06/25/36		937
	3,289	MASTR Reperforming Loan Trust, Series 2005-2, Class 1A1F, VAR, 0.557%, 05/25/35 (e)		2,595
	2,151	MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		1,721
	1,159	Merrill Lynch Mortgage Investors Trust, Series 2004-1, Class 2A1, VAR, 2.515%, 12/25/34		1,172
	63	Merrill Lynch Trust, Series 47, Class Z, 8.985%, 10/20/20		70
	789	MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.528%, 02/25/35		742
		Nomura Asset Acceptance Corp.,
	421	Series 2003-A1, Class A1, 5.500%, 05/25/33		425
	128	Series 2003-A1, Class A2, 6.000%, 05/25/33		135
	62	Series 2003-A1, Class A5, 7.000%, 04/25/33		66
	9	Series 2003-A1, Class A7, 5.000%, 04/25/18		9
	613	Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		619
		Paine Webber CMO Trust,
	3	Series H, Class 4, 8.750%, 04/01/18		2
	12	Series P, Class 4, 8.500%, 08/01/19		14
	545	Provident Funding Mortgage Loan Trust, Series 2005-1, Class 2A1, VAR, 2.855%, 05/25/35		549
		RALI Trust,
	177	Series 2002-QS16, Class A3, IF, 16.189%, 10/25/17		200
	596	Series 2002-QS8, Class A5, 6.250%, 06/25/17		612
	5,739	Series 2003-QR19, Class CB4, 5.750%, 10/25/33		5,937
	1,176	Series 2003-QS12, Class A2A, IF, IO, 7.392%, 06/25/18		162
	358	Series 2003-QS12, Class A5, IO, 5.000%, 06/25/18		31
	2,310	Series 2003-QS14, Class A1, 5.000%, 07/25/18		2,362
	741	Series 2003-QS18, Class A1, 5.000%, 09/25/18		764
	2,049	Series 2003-QS19, Class A1, 5.750%, 10/25/33		2,131
	474	Series 2003-QS3, Class A2, IF, 16.044%, 02/25/18		526
	368	Series 2003-QS3, Class A8, IF, IO, 7.392%, 02/25/18		29
	1,226	Series 2003-QS9, Class A3, IF, IO, 7.342%, 05/25/18		169
	2,684	Series 2004-QA6, Class NB2, VAR, 3.258%, 12/26/34		2,205
	35	Series 2004-QS8, Class A2, 5.000%, 06/25/34		35
		RBSSP Resecuritization Trust,
	696	Series 2009-2, Class 1A1, 7.000%, 08/26/37 (e)		734
	782	Series 2009-6, Class 15A1, 5.500%, 01/26/21 (e)		795
	1,053	Series 2009-9, Class 7A4, VAR, 6.000%, 07/26/37 (e)		1,071
	544	Series 2009-12, Class 14A1, VAR, 5.500%, 03/25/23 (e)		561
	1,591	Series 2009-12, Class 1A1, VAR, 5.700%, 11/25/33 (e)		1,686
	1,394	Series 2010-9, Class 7A5, VAR, 4.000%, 05/26/37 (e)		1,396
	635	Series 2010-12, Class 8A1, 4.000%, 06/27/21 (e)		640
		Residential Asset Securitization Trust,
	549	Series 2003-A13, Class A3, 5.500%, 01/25/34		550
	57	Series 2003-A14, Class A1, 4.750%, 02/25/19		59
	3,774	Series 2005-A2, Class A4, IF, IO, 4.843%, 03/25/35		688
	1,072	Series 2006-A4, Class 2A5, 6.000%, 05/25/36		793
		RFMSI Trust,
	1,130	Series 2003-S13, Class A3, 5.500%, 06/25/33		1,153
	239	Series 2003-S14, Class A4, PO, 07/25/18		226
	404	Series 2004-S3, Class A1, 4.750%, 03/25/19		415
	990	Series 2004-S6, Class 2A6, PO, 06/25/34		854
	191	Series 2004-S9, Class 2A1, 4.750%, 12/25/19		196
	905	Series 2005-SA4, Class 1A1, VAR, 3.133%, 09/25/35		761
	35	RFSC Trust, Series 2003-RM2, Class AP-3, PO, 05/25/33		28

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
		Salomon Brothers Mortgage Securities VII, Inc.,
	505	Series 2003-HYB1, Class A, VAR, 3.099%, 09/25/33		512
	78	Series 2003-UP2, Class PO1, PO, 12/25/18		71
		Springleaf Mortgage Loan Trust,
	2,411	Series 2011-1A, Class A1, VAR, 4.050%, 01/25/58 (e)		2,483
	2,100	Series 2011-1A, Class A2, VAR, 5.450%, 01/25/58 (e)		2,214
	959	Series 2012-1A, Class A, VAR, 2.667%, 09/25/57 (e)		971
	1,600	Series 2012-1A, Class M3, VAR, 6.000%, 09/25/57 (e)		1,581
	3,918	Series 2012-2A, Class A, VAR, 2.220%, 10/25/57 (e)		3,958
	2,000	Series 2012-2A, Class M4, VAR, 6.000%, 10/25/57 (e)		2,002
	4,728	Series 2012-3A, Class A, VAR, 1.570%, 12/25/59 (e)		4,740
	1,130	Series 2012-3A, Class M1, VAR, 2.660%, 12/25/59 (e)		1,132
	589	Series 2012-3A, Class M2, VAR, 3.560%, 12/25/59 (e)		590
	455	Series 2012-3A, Class M3, VAR, 4.440%, 12/25/59 (e)		456
	267	Series 2012-3A, Class M4, VAR, 4.440%, 12/25/59 (e)		268
	2,826	Structured Adjustable Rate Mortgage Loan Trust, Series 2004-6, Class 5A4, VAR, 4.891%, 06/25/34		2,848
	949	Structured Asset Mortgage Investments, Inc., Series 2004-AR5, Class 1A1, VAR, 0.867%, 10/19/34		910
		Structured Asset Securities Corp.,
	69	Series 2002-10H, Class 1AP, PO, 05/25/32		55
	95	Series 2003-8, Class 1A2, 5.000%, 04/25/18		97
	496	Series 2003-31A, Class B1, VAR, 2.823%, 10/25/33		205
	1,313	Series 2003-33H, Class 1A1, 5.500%, 10/25/33		1,328
	2,371	Series 2004-5H, Class A4, 5.540%, 12/25/33		2,364
	370	Series 2005-6, Class 4A1, 5.000%, 05/25/35		376
	583	Series 2005-10, Class 5A9, 5.250%, 12/25/34		571
	780	Thornburg Mortgage Securities Trust, Series 2003-4, Class A1, VAR, 0.848%, 09/25/43		775
		Vericrest Opportunity Loan Transferee,
	1,757	Series 2012-NL2A, Class A1, 2.487%, 02/26/52 (e) (i)		1,761
	4,900	Series 2012-NL3A, Class A, 2.734%, 11/25/60 (e)		4,900
		Vericrest Opportunity Loan Trust,
	280	Series 2012-NL1A, Class A1, VAR, 4.213%, 03/25/49 (e) (i)		281
	308	Series 2012-NL1A, Class A2, VAR, 8.112%, 03/25/49 (e) (i)		312
		WaMu Mortgage Pass-Through Certificates,
	249	Series 2003-AR8, Class A, VAR, 2.460%, 08/25/33		255
	4,028	Series 2003-AR9, Class 1A6, VAR, 2.444%, 09/25/33		4,108
	625	Series 2003-AR9, Class 2A, VAR, 2.546%, 09/25/33		628
	46	Series 2003-S11, Class 2A5, IF, 16.479%, 11/25/33		46
	534	Series 2003-S8, Class A6, 4.500%, 09/25/18		553
	2,624	Series 2003-S9, Class A8, 5.250%, 10/25/33		2,752
	249	Series 2003-S9, Class P, PO, 10/25/33		232
	333	Series 2004-AR3, Class A1, VAR, 2.572%, 06/25/34		339
	279	Series 2004-AR3, Class A2, VAR, 2.572%, 06/25/34		284
	2,627	Series 2004-RS2, Class A4, 5.000%, 11/25/33		2,623
	434	Series 2006-AR10, Class 2P, VAR, 09/25/36		261
	288	Series 2006-AR12, Class 2P, VAR, 10/25/36		170
		Washington Mutual Alternative Mortgage Pass-Through Certificates,
	12,492	Series 2005-2, Class 1A4, IF, IO, 4.843%, 04/25/35		2,192
	2,585	Series 2005-2, Class 2A3, IF, IO, 4.793%, 04/25/35		370
	3,153	Series 2005-3, Class CX, IO, 5.500%, 05/25/35		865
	3,700	Series 2005-4, Class CB7, 5.500%, 06/25/35		3,540

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	3,167	Series 2005-4, Class CX, IO, 5.500%, 06/25/35		843
	1,000	Series 2005-6, Class 2A4, 5.500%, 08/25/35		889
	5,870	Series 2005-6, Class 2A9, 5.500%, 08/25/35		5,146
	2,218	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		2,229
		Wells Fargo Mortgage-Backed Securities Trust,
	174	Series 2003-11, Class 1APO, PO, 10/25/18		165
	602	Series 2003-13, Class A7, 4.500%, 11/25/18		613
	578	Series 2003-15, Class 1A1, 4.750%, 12/25/18		597
	111	Series 2003-15, Class APO, PO, 12/25/18		98
	535	Series 2003-16, Class 2A1, 4.500%, 12/25/18		549
	425	Series 2003-K, Class 1A1, VAR, 4.434%, 11/25/33		436
	804	Series 2003-K, Class 1A2, VAR, 4.434%, 11/25/33		829
	216	Series 2004-2, Class APO, PO, 02/25/19		204
	284	Series 2004-7, Class 2A1, 4.500%, 07/25/19		291
	281	Series 2004-7, Class 2A2, 5.000%, 07/25/19		291
	807	Series 2004-BB, Class A4, VAR, 2.625%, 01/25/35		813
	883	Series 2004-EE, Class 2A1, VAR, 2.626%, 12/25/34		910
	900	Series 2004-EE, Class 3A1, VAR, 3.049%, 12/25/34		932
	4,389	Series 2004-P, Class 2A1, VAR, 2.616%, 09/25/34		4,433
	902	Series 2004-V, Class 1A1, VAR, 2.652%, 10/25/34		923
	586	Series 2005-1, Class 2A1, 5.000%, 01/25/20		617
	148	Series 2005-13, Class APO, PO, 11/25/20		136
	529	Series 2005-16, Class APO, PO, 01/25/36		397
	545	Series 2005-AR16, Class 2A1, VAR, 2.686%, 02/25/34		538
	833	Series 2005-AR8, Class 2A1, VAR, 2.733%, 06/25/35		850
	1,035	Series 2006-2, Class APO, PO, 03/25/36		571
	502	Series 2006-4, Class 1APO, PO, 04/25/36		369
	2,370	Series 2007-7, Class A7, 6.000%, 06/25/37		2,384
	656	Series 2007-11, Class A14, 6.000%, 08/25/37		651
				410,031
		Total Collateralized Mortgage Obligations (Cost $1,075,274)		1,170,244
	Commercial Mortgage-Backed Securities — 2.7%
	2,567	A10 Securitization LLC, Series 2012-1, Class A, 3.492%, 04/15/24 (e)		2,580
		Banc of America Commercial Mortgage Trust,
	365	Series 2006-1, Class A4, VAR, 5.372%, 09/10/45		411
	2,270	Series 2006-4, Class A4, 5.634%, 07/10/46		2,608
	915	Series 2006-5, Class A4, 5.414%, 09/10/47		1,040
		Banc of America Merrill Lynch Commercial Mortgage, Inc.,
	400	Series 2005-3, Class A4, 4.668%, 07/10/43		436
	1,610	Series 2005-3, Class AM, 4.727%, 07/10/43		1,712
	2,992	Series 2005-6, Class ASB, VAR, 5.363%, 09/10/47		3,083
	560	Banc of America Re-REMIC Trust, Series 2012-PARK, Class A, 2.959%, 12/10/30 (e)		577
	2,500	BB-UBS Trust, Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		2,564
		Bear Stearns Commercial Mortgage Securities,
	42,997	Series 2005-PWR8, Class X1, IO, VAR, 0.300%, 06/11/41 (e)		587
	982	Series 2005-PWR9, Class AAB, 4.804%, 09/11/42		1,024
	3,148	Series 2006-PW11, Class A4, VAR, 5.619%, 03/11/39		3,562
	100,004	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.198%, 12/11/49 (e)		772

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Commercial Mortgage-Backed Securities — Continued
	1,250	Citigroup Commercial Mortgage Trust, Series 2005-C3, Class AM, VAR, 4.830%, 05/15/43		1,340
	605	COBALT CMBS Commercial Mortgage Trust, Series 2006-C1, Class A4, 5.223%, 08/15/48		687
		Commercial Mortgage Pass-Through Certificates,
	1,100	Series 2005-LP5, Class A4, VAR, 4.982%, 05/10/43		1,206
	700	Series 2006-C2, Class A3, VAR, 5.855%, 03/15/39		792
	3,068	Series 2012-CR2, Class XA, IO, VAR, 2.137%, 08/15/45		393
	25,717	CW Capital Cobalt Ltd., Series 2006-C1, Class IO, IO, VAR, 0.956%, 08/15/48		599
	757	DBRR Trust, Series 2012-EZ1, Class A, 0.946%, 09/25/45 (e)		759
	2,267	FDIC Structured Sale Guaranteed Notes, Series 2010-C1, Class A, 2.980%, 12/06/20 (e)		2,384
	2,293	Fontainebleau Miami Beach Trust, Series 2012-FBLU, Class A, 2.887%, 05/05/27 (e)		2,360
	1,866	GE Capital Commercial Mortgage Corp., Series 2005-C1, Class AJ, VAR, 4.826%, 06/10/48		1,970
	4,265	GMAC Commercial Mortgage Securities, Inc., Series 2006-C1, Class A4, VAR, 5.238%, 11/10/45		4,722
		Greenwich Capital Commercial Funding Corp.,
	500	Series 2005-GG3, Class AJ, VAR, 4.859%, 08/10/42		528
	300	Series 2006-GG7, Class AM, VAR, 6.064%, 07/10/38		334
		GS Mortgage Securities Corp. II,
	1,850	Series 2004-GG2, Class A6, VAR, 5.396%, 08/10/38		1,969
	850	Series 2006-GG6, Class A4, VAR, 5.553%, 04/10/38		960
	1,000	Series 2009-RR1, Class JPB, 5.374%, 05/17/45 (e)		1,123
		JP Morgan Chase Commercial Mortgage Securities Corp.,
	1,000	Series 2005-CB11, Class AJ, VAR, 5.540%, 08/12/37		1,073
	400	Series 2006-LDP9, Class AMS, 5.337%, 05/15/47		400
		LB-UBS Commercial Mortgage Trust,
	1,000	Series 2006-C1, Class A4, 5.156%, 02/15/31		1,118
	44,648	Series 2006-C7, Class XW, IO, VAR, 0.840%, 11/15/38 (e)		934
	300	Series 2007-C1, Class AM, 5.455%, 02/15/40		334
		Merrill Lynch Mortgage Trust,
	3,105	Series 2005-LC1, Class A4, VAR, 5.291%, 01/12/44		3,458
	1,613	Series 2005-MCP1, Class ASB, VAR, 4.674%, 06/12/43		1,618
		Merrill Lynch/Countrywide Commercial Mortgage Trust,
	3,207	Series 2006-1, Class A4, VAR, 5.666%, 02/12/39		3,627
	30,487	Series 2006-4, Class XC, IO, VAR, 0.237%, 12/12/49 (e)		381
		Morgan Stanley Capital I Trust,
	39,072	Series 2006-IQ12, Class X1, IO, VAR, 0.160%, 12/15/43 (e)		550
	84,902	Series 2007-HQ11, Class X, IO, VAR, 0.398%, 02/12/44 (e)		522
	764	Series 2011-C3, Class A3, 4.054%, 07/15/49		864
		Morgan Stanley Re-REMIC Trust,
	95	Series 2009-IO, Class A1, 3.000%, 07/17/56 (e)		95
	3,500	Series 2009-IO, Class A2, 5.000%, 07/17/56 (e)		3,565
	371	Series 2010-C30A, Class A3A, 3.250%, 12/17/43 (e)		371
	3,100	Series 2010-HQ4B, Class A7A, 4.970%, 04/16/40 (e)		3,264
	3,990	Series 2011-IO, Class A, 2.500%, 03/23/51 (e)		4,030
	7,214	Series 2012-XA, Class A, 2.000%, 07/27/49		7,302
	1,500	Series 2012-XA, Class B, 0.250%, 07/28/49		1,119
	2,367	NorthStar Mortgage Trust, Series 2012-1, Class A, VAR, 1.407%, 08/25/29 (e)		2,355
	2,112	RCMC LLC, Series 2012-CRE1, Class A, 5.623%, 11/15/44 (e)		2,124
	5,268	TIAA Seasoned Commercial Mortgage Trust, Series 2007-C4, Class A3, VAR, 5.585%, 08/15/39		5,581
	2,236	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		2,388

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Commercial Mortgage-Backed Securities — Continued
		UBS-Barclays Commercial Mortgage Trust,
	1,053	Series 2012-C2, Class A4, 3.525%, 05/10/63		1,142
	10,568	Series 2012-C2, Class XA, IO, VAR, 1.987%, 05/10/63 (e)		1,124
	1,398	VNO Mortgage Trust, Series 2012-6AVE, Class A, 2.996%, 11/15/30 (e)		1,433
	3,200	Wells Fargo Re-REMIC Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		3,196
	800	WFRBS Commercial Mortgage Trust, Series 2012-C6, Class A4, 3.440%, 04/15/45		868
	1,700	WF-RBS Commercial Mortgage Trust, Series 2011-C3, Class A4, 4.375%, 03/15/44 (e)		1,942
		Total Commercial Mortgage-Backed Securities (Cost $93,880)		99,860
	Corporate Bonds — 19.8%
		Consumer Discretionary — 1.5%
		Auto Components — 0.1%
		Johnson Controls, Inc.,
	591	3.750%, 12/01/21		634
	675	4.250%, 03/01/21		746
	1,000	5.250%, 12/01/41		1,152
				2,532
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	421	1.650%, 04/10/15 (e)		427
	739	2.625%, 09/15/16 (e)		771
	1,425	2.950%, 01/11/17 (e)		1,501
	1,000	6.500%, 11/15/13		1,054
				3,753
		Hotels, Restaurants & Leisure — 0.0% (g)
	400	McDonald’s Corp., 4.300%, 03/01/13		404
		Household Durables — 0.0% (g)
	505	Newell Rubbermaid, Inc., 4.700%, 08/15/20		563
		Media — 1.0%
		CBS Corp.,
	140	5.500%, 05/15/33		154
	252	5.750%, 04/15/20		303
	150	7.875%, 09/01/23		192
	1,000	7.875%, 07/30/30		1,397
	190	8.875%, 05/15/19		259
	250	Comcast Cable Communications Holdings, Inc., 9.455%, 11/15/22		374
	624	Comcast Cable Communications LLC, 7.125%, 06/15/13		645
		Comcast Corp.,
	2,885	5.900%, 03/15/16		3,336
	400	6.450%, 03/15/37		520
	1,355	6.500%, 11/15/35		1,754
		COX Communications, Inc.,
	446	3.250%, 12/15/22 (e)		451
	505	5.450%, 12/15/14		553
	125	8.375%, 03/01/39 (e)		190
	450	Cox Enterprises, Inc., 7.375%, 07/15/27 (e)		575
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	400	3.800%, 03/15/22		408
	1,000	4.600%, 02/15/21		1,084
	772	5.000%, 03/01/21		862
	2,000	6.000%, 08/15/40		2,181
		Discovery Communications LLC,
	1,016	4.375%, 06/15/21		1,150
	319	4.950%, 05/15/42		347
	1,177	Historic TW, Inc., 9.150%, 02/01/23		1,728
		NBCUniversal Media LLC,
	300	4.375%, 04/01/21		341
	800	5.950%, 04/01/41		979
	515	6.400%, 04/30/40		660
		News America, Inc.,
	100	6.200%, 12/15/34		122
	400	6.650%, 11/15/37		514
	250	6.900%, 08/15/39		334

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Media — Continued
	1,075	7.300%, 04/30/28		1,380
	500	8.000%, 10/17/16		621
	415	8.875%, 04/26/23		556
		Thomson Reuters Corp., (Canada),
	1,278	3.950%, 09/30/21		1,412
	325	4.700%, 10/15/19		370
	493	5.950%, 07/15/13		509
		Time Warner Cable, Inc.,
	359	5.500%, 09/01/41		399
	2,127	5.850%, 05/01/17		2,521
	400	6.550%, 05/01/37		499
	800	8.250%, 04/01/19		1,067
		Time Warner Entertainment Co. LP,
	120	8.375%, 03/15/23		172
	1,250	8.375%, 07/15/33		1,822
		Time Warner, Inc.,
	525	4.750%, 03/29/21		607
	313	5.375%, 10/15/41		354
	150	6.200%, 03/15/40		188
	437	6.250%, 03/29/41		549
	250	7.625%, 04/15/31		343
	171	7.700%, 05/01/32		238
		Viacom, Inc.,
	208	1.250%, 02/27/15		210
	500	3.125%, 06/15/22		514
	808	3.875%, 12/15/21		891
	464	4.375%, 03/15/43 (e)		449
	100	4.500%, 03/01/21		114
	250	4.500%, 02/27/42		250
	333	Walt Disney Co. (The), 0.450%, 12/01/15		331
				37,779
		Multiline Retail — 0.1%
		Kohl’s Corp.,
	400	4.000%, 11/01/21		430
	275	6.250%, 12/15/17		337
		Macy’s Retail Holdings, Inc.,
	516	2.875%, 02/15/23		512
	157	5.125%, 01/15/42		173
	200	7.450%, 07/15/17		250
	455	Nordstrom, Inc., 4.000%, 10/15/21		513
		Target Corp.,
	200	6.000%, 01/15/18		248
	800	7.000%, 01/15/38		1,181
				3,644
		Specialty Retail — 0.2%
	533	Gap, Inc. (The), 5.950%, 04/12/21		608
	1,765	Home Depot, Inc. (The), 5.400%, 03/01/16		2,027
		Lowe’s Cos., Inc.,
	739	4.650%, 04/15/42		826
	326	5.125%, 11/15/41		384
	750	7.110%, 05/15/37		1,032
	590	Staples, Inc., 9.750%, 01/15/14		645
				5,522
		Total Consumer Discretionary		54,197
		Consumer Staples — 1.1%
		Beverages — 0.3%
		Anheuser-Busch Cos. LLC,
	600	5.500%, 01/15/18		724
	905	5.750%, 04/01/36		1,170
		Anheuser-Busch InBev Worldwide, Inc.,
	114	1.500%, 07/14/14		116
	515	7.750%, 01/15/19		692
		Coca-Cola Co. (The),
	500	3.625%, 03/15/14		520
	410	4.875%, 03/15/19		487
		Diageo Capital plc, (United Kingdom),
	264	1.500%, 05/11/17		269
	510	4.828%, 07/15/20		606

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Beverages — Continued
		Diageo Finance B.V., (Netherlands),
	800	5.300%, 10/28/15		901
	530	5.500%, 04/01/13		538
	255	Diageo Investment Corp., 8.000%, 09/15/22		372
	890	FBG Finance Ltd., (Australia), 5.125%, 06/15/15 (e)		981
	355	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		356
		PepsiCo, Inc.,
	150	0.800%, 08/25/14		151
	287	1.250%, 08/13/17		290
	368	3.000%, 08/25/21		394
	54	7.900%, 11/01/18		74
		SABMiller Holdings, Inc.,
	574	1.850%, 01/15/15 (e)		585
	698	3.750%, 01/15/22 (e)		758
		SABMiller plc, (United Kingdom),
	700	5.700%, 01/15/14 (e)		739
	250	6.500%, 07/01/16 (e)		295
				11,018
		Food & Staples Retailing — 0.3%
	849	Costco Wholesale Corp., 0.650%, 12/07/15		850
		CVS Caremark Corp.,
	979	5.750%, 05/15/41		1,209
	250	6.125%, 09/15/39		320
	1,090	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		1,325
		Kroger Co. (The),
	1,100	5.000%, 04/15/42		1,188
	850	7.500%, 01/15/14		914
	2,460	7.500%, 04/01/31		3,231
	1,031	Walgreen Co., 3.100%, 09/15/22		1,049
		Wal-Mart Stores, Inc.,
	550	4.550%, 05/01/13		559
	752	5.250%, 09/01/35		929
	215	6.200%, 04/15/38		298
	350	7.550%, 02/15/30		523
				12,395
		Food Products — 0.4%
		Bunge Ltd. Finance Corp.,
	165	5.875%, 05/15/13		169
	1,305	8.500%, 06/15/19		1,690
	191	Bunge N.A. Finance LP, 5.900%, 04/01/17		217
		Cargill, Inc.,
	600	3.300%, 03/01/22 (e)		625
	535	4.307%, 05/14/21 (e)		594
	850	7.350%, 03/06/19 (e)		1,075
	286	ConAgra Foods, Inc., 2.100%, 03/15/18		288
	225	H.J. Heinz Co., 6.375%, 07/15/28		272
		Kellogg Co.,
	365	1.750%, 05/17/17		374
	608	3.125%, 05/17/22		638
	477	4.250%, 03/06/13		482
	1,200	5.125%, 12/03/12		1,200
		Kraft Foods Group, Inc.,
	814	3.500%, 06/06/22 (e)		869
	694	5.000%, 06/04/42 (e)		779
	1,187	6.125%, 08/23/18 (e)		1,463
	1,793	6.875%, 01/26/39 (e)		2,430
		Mondelez International, Inc.,
	378	6.125%, 02/01/18		463
	1,480	6.500%, 08/11/17		1,818
				15,446
		Household Products — 0.1%
		Kimberly-Clark Corp.,
	220	2.400%, 03/01/22		224
	66	7.500%, 11/01/18		89
	876	Procter & Gamble - ESOP, 9.360%, 01/01/21		1,162

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Household Products — Continued
	110	Procter & Gamble Co. (The), 5.500%,
		02/01/34		143
				1,618
		Total Consumer Staples		40,477
		Energy — 1.2%
		Energy Equipment & Services — 0.1%
	225	Cameron International Corp., 1.600%, 04/30/15		228
	1,605	Halliburton Co., 7.450%, 09/15/39		2,425
	188	National Oilwell Varco, Inc., 1.350%, 12/01/17		190
		Noble Holding International Ltd., (Cayman Islands),
	113	3.950%, 03/15/22		120
	83	5.250%, 03/15/42		90
	441	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		475
		Transocean, Inc., (Cayman Islands),
	361	3.800%, 10/15/22		369
	256	6.375%, 12/15/21		309
	905	6.500%, 11/15/20		1,090
	198	7.350%, 12/15/41		260
	100	7.500%, 04/15/31		124
		Weatherford International Ltd., (Bermuda),
	311	4.500%, 04/15/22		318
	113	5.950%, 04/15/42		114
	350	9.875%, 03/01/39		482
				6,594
		Oil, Gas & Consumable Fuels — 1.1%
	160	Alberta Energy Co., Ltd., (Canada),
		7.375%, 11/01/31		207
		Anadarko Petroleum Corp.,
	125	5.750%, 06/15/14		133
	2,000	7.625%, 03/15/14		2,160
	265	8.700%, 03/15/19		362
		Apache Corp.,
	615	2.625%, 01/15/23		618
	190	3.250%, 04/15/22		203
	556	4.750%, 04/15/43		609
	500	6.900%, 09/15/18		634
	92	BP Capital Markets plc, (United Kingdom), 1.375%, 11/06/17		92
	1,000	Canadian Natural Resources Ltd., (Canada), 6.750%, 02/01/39		1,375
		Cenovus Energy, Inc., (Canada),
	208	3.000%, 08/15/22		213
	490	4.450%, 09/15/42		510
	1,000	Chevron Corp., 4.950%, 03/03/19		1,198
	405	Conoco Funding Co., (Canada), 7.250%, 10/15/31		607
		ConocoPhillips,
	325	5.200%, 05/15/18		388
	450	5.750%, 02/01/19		559
	150	6.000%, 01/15/20		192
	200	6.500%, 02/01/39		284
		Devon Energy Corp.,
	750	3.250%, 05/15/22		784
	522	4.750%, 05/15/42		562
	360	6.300%, 01/15/19		450
		Encana Corp., (Canada),
	545	6.500%, 05/15/19		675
	150	6.500%, 08/15/34		184
	925	Eni S.p.A., (Italy), 5.700%, 10/01/40 (e)		980
		EOG Resources, Inc.,
	379	2.625%, 03/15/23		385
	600	4.100%, 02/01/21		691
	180	Hess Corp., 7.875%, 10/01/29		253
		Kerr-McGee Corp.,
	200	6.950%, 07/01/24		258
	800	7.875%, 09/15/31		1,079
		Marathon Oil Corp.,
	888	5.900%, 03/15/18		1,083
	1,620	6.000%, 10/01/17		1,970
	402	Occidental Petroleum Corp., 1.750%, 02/15/17		414

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Oil, Gas & Consumable Fuels — Continued
	1,020	Petrobras International Finance Co., (Cayman Islands), 5.375%, 01/27/21		1,147
		Petro-Canada, (Canada),
	324	6.050%, 05/15/18		395
	1,045	6.800%, 05/15/38		1,409
		Phillips 66,
	314	2.950%, 05/01/17 (e)		335
	182	4.300%, 04/01/22 (e)		201
		Shell International Finance B.V., (Netherlands),
	212	1.125%, 08/21/17		214
	270	1.875%, 03/25/13		271
	275	4.000%, 03/21/14		287
	1,020	4.300%, 09/22/19		1,187
	1,005	4.375%, 03/25/20		1,178
	1,280	6.375%, 12/15/38		1,838
		Statoil ASA, (Norway),
	353	1.200%, 01/17/18		355
	406	2.450%, 01/17/23		405
	467	3.125%, 08/17/17		508
	300	3.150%, 01/23/22		320
	253	4.250%, 11/23/41		275
		Suncor Energy, Inc., (Canada),
	180	5.950%, 12/01/34		221
	250	6.850%, 06/01/39		343
		Talisman Energy, Inc., (Canada),
	1,125	5.500%, 05/15/42		1,274
	375	5.850%, 02/01/37		430
	850	7.750%, 06/01/19		1,096
	554	Texas Eastern Transmission LP, 2.800%, 10/15/22 (e)		561
	400	Tosco Corp., 8.125%, 02/15/30		601
		Total Capital International S.A., (France),
	135	0.750%, 01/25/16		135
	262	1.500%, 02/17/17		266
	508	1.550%, 06/28/17		519
	233	2.875%, 02/17/22		244
		Total Capital S.A., (France),
	1,400	2.300%, 03/15/16		1,467
	370	4.125%, 01/28/21		422
	2,000	XTO Energy, Inc., 5.750%, 12/15/13		2,113
				40,129
		Total Energy		46,723
		Financials — 9.9%
		Capital Markets — 2.0%
		Bank of New York Mellon Corp. (The),
	357	1.200%, 02/20/15		361
	1,789	2.400%, 01/17/17		1,888
	900	2.950%, 06/18/15		949
	413	3.550%, 09/23/21		453
	750	4.600%, 01/15/20		870
	310	5.125%, 08/27/13		321
		BlackRock, Inc.,
	1,200	3.375%, 06/01/22		1,288
	540	3.500%, 12/10/14		571
	652	5.000%, 12/10/19		777
	385	6.250%, 09/15/17		472
		Blackstone Holdings Finance Co. LLC,
	1,940	5.875%, 03/15/21 (e)		2,187
	736	6.250%, 08/15/42 (e)		812
	260	Charles Schwab Corp. (The), 3.225%, 09/01/22 (e)		263
	755	Credit Suisse USA, Inc., 5.125%, 08/15/15		838
	500	FMR LLC, 6.450%, 11/15/39 (e)		625
		Goldman Sachs Group, Inc. (The),
	400	3.300%, 05/03/15		417
	3,060	3.625%, 02/07/16		3,243
	492	3.700%, 08/01/15		519
	1,056	4.750%, 07/15/13		1,081
	2,658	5.150%, 01/15/14		2,776

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Capital Markets — Continued
	848	5.250%, 07/27/21		970
	1,366	5.375%, 03/15/20		1,565
	750	5.500%, 11/15/14		809
	800	5.750%, 01/24/22		950
	4,100	5.950%, 01/18/18		4,745
	949	6.000%, 06/15/20		1,125
	240	6.150%, 04/01/18		280
	340	6.250%, 09/01/17		397
	685	6.750%, 10/01/37		762
	2,570	7.500%, 02/15/19		3,226
		Jefferies Group, Inc.,
	450	3.875%, 11/09/15		460
	1,015	5.125%, 04/13/18		1,059
	1,000	6.450%, 06/08/27		1,055
	780	8.500%, 07/15/19		915
		Macquarie Group Ltd., (Australia),
	1,200	6.000%, 01/14/20 (e)		1,303
	1,400	6.250%, 01/14/21 (e)		1,538
	750	7.300%, 08/01/14 (e)		813
	250	7.625%, 08/13/19 (e)		295
		Merrill Lynch & Co., Inc.,
	2,215	5.450%, 07/15/14		2,363
	1,702	6.150%, 04/25/13		1,738
	2,996	6.400%, 08/28/17		3,509
	1,564	6.875%, 04/25/18		1,881
		Morgan Stanley,
	625	4.000%, 07/24/15		654
	893	4.200%, 11/20/14		934
	4,225	5.300%, 03/01/13		4,272
	1,000	5.450%, 01/09/17		1,102
	1,021	5.500%, 07/24/20		1,153
	380	5.500%, 07/28/21		434
	1,265	5.625%, 09/23/19		1,427
	360	5.750%, 01/25/21		411
	1,200	6.000%, 05/13/14		1,272
	400	6.625%, 04/01/18		466
	370	6.750%, 10/15/13		387
	970	7.300%, 05/13/19		1,177
		Nomura Holdings, Inc., (Japan),
	1,050	4.125%, 01/19/16		1,105
	150	5.000%, 03/04/15		159
	1,150	6.700%, 03/04/20		1,356
	226	Northern Trust Corp., 5.500%, 08/15/13		234
		UBS AG, (Switzerland),
	414	2.250%, 08/12/13		418
	2,300	3.875%, 01/15/15		2,432
	365	4.875%, 08/04/20		426
	500	5.750%, 04/25/18		597
	425	5.875%, 12/20/17		506
				73,391
		Commercial Banks — 3.3%
	550	ANZ National (International) Ltd., (New Zealand), 3.125%, 08/10/15 (e)		578
		Australia & New Zealand Banking Group Ltd., (Australia),
	1,268	2.400%, 11/23/16 (e)		1,337
	900	3.250%, 03/01/16 (e)		961
	228	4.875%, 01/12/21 (e)		268
		Bank of America Corp.,
	520	3.625%, 03/17/16		551
	300	4.900%, 05/01/13		305
	2,065	5.000%, 05/13/21		2,368
	2,720	5.625%, 10/14/16		3,095
	740	5.625%, 07/01/20		874
	645	5.650%, 05/01/18		747
	420	5.750%, 12/01/17		486
	400	5.875%, 01/05/21		478

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	600	7.625%, 06/01/19		767
	1,510	7.800%, 09/15/16		1,774
	1,455	Bank of America N.A., 5.300%, 03/15/17		1,627
		Bank of Montreal, (Canada),
	741	1.300%, 10/31/14 (e)		753
	1,666	1.400%, 09/11/17		1,674
	1,106	2.550%, 11/06/22		1,104
		Bank of Nova Scotia, (Canada),
	1,034	1.650%, 10/29/15 (e)		1,066
	2,000	2.550%, 01/12/17		2,112
	737	3.400%, 01/22/15		780
		Bank of Tokyo-Mitsubishi UFJ Ltd., (Japan),
	1,275	2.350%, 02/23/17 (e)		1,331
	679	3.850%, 01/22/15 (e)		720
		Barclays Bank plc, (United Kingdom),
	276	2.250%, 05/10/17 (e)		286
	1,150	2.500%, 01/23/13		1,153
	800	2.500%, 09/21/15 (e)		834
	1,735	2.750%, 02/23/15		1,795
	310	Series 1, 5.000%, 09/22/16		349
	700	5.200%, 07/10/14		746
	1,000	6.050%, 12/04/17 (e)		1,096
		BB&T Corp.,
	655	3.375%, 09/25/13		670
	750	3.950%, 04/29/16		822
	740	4.900%, 06/30/17		842
	1,885	5.700%, 04/30/14		2,018
	370	6.850%, 04/30/19		471
	695	Branch Banking & Trust Co., 5.625%, 09/15/16		790
		Canadian Imperial Bank of Commerce, (Canada),
	226	0.900%, 10/01/15		227
	4,000	2.600%, 07/02/15 (e)		4,213
	260	Comerica, Inc., 3.000%, 09/16/15		275
	1,080	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		1,132
		Credit Suisse, (Switzerland),
	500	5.000%, 05/15/13		510
	942	5.500%, 05/01/14		1,004
		Deutsche Bank AG, (Germany),
	650	3.250%, 01/11/16		690
	970	3.875%, 08/18/14		1,021
	355	6.000%, 09/01/17		427
	2,011	DnB Boligkreditt AS, (Norway), 2.100%, 10/14/15 (e)		2,088
	760	Fifth Third Bancorp, 5.450%, 01/15/17		858
		HSBC Bank plc, (United Kingdom),
	1,745	1.625%, 07/07/14 (e)		1,780
	1,438	3.100%, 05/24/16 (e)		1,530
	666	4.125%, 08/12/20 (e)		743
	575	4.750%, 01/19/21 (e)		669
		HSBC Holdings plc, (United Kingdom),
	500	4.000%, 03/30/22		549
	530	4.875%, 01/14/22		618
	556	5.100%, 04/05/21		661
	600	6.100%, 01/14/42		802
	1,500	HSBC USA, Inc., 2.375%, 02/13/15		1,545
		ING Bank N.V., (Netherlands),
	216	2.000%, 09/25/15 (e)		218
	1,445	3.750%, 03/07/17 (e)		1,535
	500	KeyCorp, 6.500%, 05/14/13		513
	2,847	Macquarie Bank Ltd., (Australia), 5.000%, 02/22/17 (e)		3,106
	2,100	Manufacturers & Traders Trust Co.,
		6.625%, 12/04/17		2,554
		National Australia Bank Ltd., (Australia),
	1,500	2.000%, 06/20/17 (e)		1,556
	1,500	2.500%, 01/08/13 (e)		1,503
	750	2.750%, 09/28/15 (e)		785

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	1,000	3.000%, 07/27/16 (e)		1,062
	795	3.750%, 03/02/15 (e)		844
	1,353	National Bank of Canada, (Canada),
		1.650%, 01/30/14 (e)		1,373
	250	National City Bank, 5.800%, 06/07/17		296
		Nordea Bank AB, (Sweden),
	600	1.750%, 10/04/13 (e)		606
	1,800	3.125%, 03/20/17 (e)		1,917
	945	4.875%, 05/13/21 (e)		1,003
	837	Oversea-Chinese Banking Corp., Ltd., (Singapore), 1.625%, 03/13/15 (e)		849
	400	PNC Bank N.A., 6.875%, 04/01/18		504
		PNC Funding Corp.,
	659	3.300%, 03/08/22		703
	567	4.375%, 08/11/20		654
	940	5.250%, 11/15/15		1,052
	950	5.625%, 02/01/17		1,103
	595	6.700%, 06/10/19		765
		Rabobank Nederland N.V., (Netherlands),
	143	2.125%, 10/13/15		148
	2,400	3.200%, 03/11/15 (e)		2,517
	455	3.375%, 01/19/17		489
	789	3.875%, 02/08/22		857
	500	5.800%, 09/30/10 (e)		592
	985	Royal Bank of Canada, (Canada), 1.200%, 09/19/17		991
	927	Sparebank 1 Boligkreditt AS, (Norway),
		1.750%, 11/15/19 (e)		921
	820	SunTrust Banks, Inc., 6.000%, 09/11/17		979
	1,411	Svenska Handelsbanken AB, (Sweden),
		3.125%, 07/12/16		1,497
		Toronto-Dominion Bank (The), (Canada),
	2,350	1.500%, 03/13/17 (e)		2,415
	1,140	2.200%, 07/29/15 (e)		1,190
		U.S. Bancorp,
	550	1.650%, 05/15/17		563
	675	2.450%, 07/27/15		708
	540	3.000%, 03/15/22		571
	566	4.125%, 05/24/21		654
	1,107	7.500%, 06/01/26		1,466
		Wachovia Bank N.A.,
	1,000	5.600%, 03/15/16		1,123
	250	6.000%, 11/15/17		301
	1,125	6.600%, 01/15/38		1,561
		Wachovia Corp.,
	695	4.875%, 02/15/14		725
	2,155	5.500%, 05/01/13		2,200
	4,780	5.750%, 02/01/18		5,760
		Wells Fargo & Co.,
	1,826	2.625%, 12/15/16		1,931
	850	3.500%, 03/08/22		916
	500	4.600%, 04/01/21		580
	2,350	5.625%, 12/11/17		2,819
	1,025	SUB, 3.676%, 06/15/16		1,116
		Wells Fargo Bank N.A.,
	1,515	4.750%, 02/09/15		1,632
	250	5.750%, 05/16/16		287
		Westpac Banking Corp., (Australia),
	900	4.200%, 02/27/15		967
	2,141	4.875%, 11/19/19		2,506
				124,453
		Consumer Finance — 0.9%
	700	American Express Co., 7.000%, 03/19/18		894
		American Express Credit Corp.,
	361	2.375%, 03/24/17		379
	1,028	2.800%, 09/19/16		1,093
	1,150	5.125%, 08/25/14		1,236
	1,135	5.875%, 05/02/13		1,160
	400	7.300%, 08/20/13		419

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Consumer Finance — Continued
		American Honda Finance Corp.,
	667	1.450%, 02/27/15 (e)		678
	363	1.500%, 09/11/17 (e)		365
	565	2.125%, 02/28/17 (e)		581
	405	2.375%, 03/18/13 (e)		407
	1,599	2.600%, 09/20/16 (e)		1,685
	150	7.625%, 10/01/18 (e)		196
	1,375	Capital One Bank USA N.A., 8.800%, 07/15/19		1,862
		Capital One Financial Corp.,
	273	1.000%, 11/06/15		272
	1,165	6.750%, 09/15/17		1,436
	2,140	7.375%, 05/23/14		2,340
		Ford Motor Credit Co. LLC,
	1,253	3.000%, 06/12/17		1,277
	1,917	3.984%, 06/15/16		2,025
	561	4.207%, 04/15/16		596
	200	4.250%, 09/20/22		208
		HSBC Finance Corp.,
	1,000	4.750%, 07/15/13		1,024
	3,538	5.000%, 06/30/15		3,845
	2,200	5.250%, 01/15/14		2,301
	207	7.350%, 11/27/32		250
		John Deere Capital Corp.,
	759	1.200%, 10/10/17		763
	335	1.700%, 01/15/20		334
	400	2.250%, 04/17/19		415
	233	3.150%, 10/15/21		249
	265	4.500%, 04/03/13		268
	663	PACCAR Financial Corp., 1.600%, 03/15/17		677
	1,033	SLM Corp., 5.375%, 01/15/13		1,036
		Toyota Motor Credit Corp.,
	1,120	1.000%, 02/17/15		1,130
	2,480	2.000%, 09/15/16		2,571
	962	3.200%, 06/17/15		1,022
	331	Volkswagen International Finance N.V., (Netherlands), 1.625%, 08/12/13 (e)		334
				35,328
		Diversified Financial Services — 1.8%
	1,221	Associates Corp. of North America, 6.950%, 11/01/18		1,479
	235	BG Energy Capital plc, (United Kingdom), 5.125%, 10/15/41 (e)		276
		BP Capital Markets plc, (United Kingdom),
	929	1.846%, 05/05/17		950
	900	4.742%, 03/11/21		1,057
	2,122	5.250%, 11/07/13		2,215
	725	Caisse Centrale Desjardins du Quebec, (Canada), 2.550%, 03/24/16 (e)		769
		Caterpillar Financial Services Corp.,
	402	2.850%, 06/01/22		416
	705	4.900%, 08/15/13		727
	560	5.500%, 03/15/16		646
	1,300	6.200%, 09/30/13		1,360
	305	7.050%, 10/01/18		395
	545	7.150%, 02/15/19		718
		Citigroup, Inc.,
	450	2.250%, 08/07/15		462
	500	4.450%, 01/10/17		555
	433	4.500%, 01/14/22		487
	842	4.587%, 12/15/15		921
	856	4.700%, 05/29/15		925
	1,022	4.750%, 05/19/15		1,104
	3,127	5.000%, 09/15/14		3,293
	1,270	5.125%, 05/05/14		1,340
	1,225	5.375%, 08/09/20		1,446
	321	5.875%, 01/30/42		400
	120	6.000%, 12/13/13		126
	2,154	6.000%, 08/15/17		2,534
	780	6.010%, 01/15/15		854

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Diversified Financial Services — Continued
	350	6.125%, 11/21/17		416
	555	6.375%, 08/12/14		601
	600	6.500%, 08/19/13		624
	250	6.625%, 01/15/28		306
	400	8.125%, 07/15/39		604
	1,409	8.500%, 05/22/19		1,885
		CME Group, Inc.,
	1,155	3.000%, 09/15/22		1,184
	1,786	5.400%, 08/01/13		1,845
	1,500	5.750%, 02/15/14		1,590
	1,045	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		1,239
		ERAC USA Finance LLC,
	154	2.250%, 01/10/14 (e)		156
	355	2.750%, 03/15/17 (e)		372
	559	4.500%, 08/16/21 (e)		616
	436	5.625%, 03/15/42 (e)		490
	350	6.375%, 10/15/17 (e)		428
	746	6.700%, 06/01/34 (e)		918
		General Electric Capital Corp.,
	1,100	1.625%, 07/02/15		1,116
	750	2.300%, 04/27/17		775
	2,000	3.150%, 09/07/22		2,046
	650	4.625%, 01/07/21		738
	2,100	4.650%, 10/17/21		2,386
	191	5.300%, 02/11/21		221
	2,500	5.400%, 02/15/17		2,889
	6,165	5.625%, 05/01/18		7,345
	1,000	5.650%, 06/09/14		1,073
	310	5.875%, 01/14/38		376
	2,622	6.750%, 03/15/32		3,421
	1,742	GTP Acquisition Partners I LLC, 4.347%, 06/15/16 (e)		1,851
	539	Hutchison Whampoa International 12 II Ltd., (Cayman Islands), 3.250%, 11/08/22 (e)		546
		National Rural Utilities Cooperative Finance Corp.,
	665	4.750%, 03/01/14		699
	200	10.375%, 11/01/18		297
	640	Textron Financial Corp., 5.400%, 04/28/13		651
				65,159
		Insurance — 1.5%
		ACE INA Holdings, Inc.,
	455	2.600%, 11/23/15		477
	410	5.600%, 05/15/15		457
		Aflac, Inc.,
	228	2.650%, 02/15/17		241
	260	4.000%, 02/15/22		284
	317	6.450%, 08/15/40		395
	200	8.500%, 05/15/19		273
	520	AIG SunAmerica Global Financing X, 6.900%, 03/15/32 (e)		697
	1,047	Allstate Life Global Funding Trusts, 5.375%, 04/30/13		1,068
		American International Group, Inc.,
	1,499	4.250%, 05/15/13		1,521
	2,985	5.450%, 05/18/17		3,420
		Aon Corp.,
	402	3.125%, 05/27/16		425
	336	3.500%, 09/30/15		355
	306	6.250%, 09/30/40		407
	2,185	ASIF Global Financing XIX, 4.900%, 01/17/13 (e)		2,195
		Berkshire Hathaway Finance Corp.,
	233	2.450%, 12/15/15		245
	233	3.000%, 05/15/22		245
	1,574	4.400%, 05/15/42		1,646
	1,000	4.600%, 05/15/13		1,019
	605	5.000%, 08/15/13		624

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Insurance — Continued
	1,670	5.400%, 05/15/18		2,019
		Berkshire Hathaway, Inc.,
	1,387	3.400%, 01/31/22		1,500
	840	3.750%, 08/15/21		934
	120	Chubb Corp. (The), 5.750%, 05/15/18		149
		CNA Financial Corp.,
	750	5.850%, 12/15/14		815
	785	5.875%, 08/15/20		924
	870	Jackson National Life Global Funding, 5.375%, 05/08/13 (e)		888
	372	Liberty Mutual Group, Inc., 4.950%, 05/01/22 (e)		404
		Lincoln National Corp.,
	345	4.200%, 03/15/22		367
	253	4.850%, 06/24/21		282
	280	Massachusetts Mutual Life Insurance Co., 5.375%, 12/01/41 (e)		330
		MassMutual Global Funding II,
	1,500	2.000%, 04/05/17 (e)		1,553
	540	2.300%, 09/28/15 (e)		562
	626	2.500%, 10/17/22 (e)		623
	338	2.875%, 04/21/14 (e)		348
	920	MetLife Institutional Funding II, VAR, 1.254%, 04/04/14 (e)		928
	1,120	Metlife of Connecticut Global Funding I, 5.125%, 08/15/14 (e)		1,204
	535	MetLife, Inc., 6.817%, 08/15/18		675
		Metropolitan Life Global Funding I,
	604	1.700%, 06/29/15 (e)		617
	1,150	2.000%, 01/10/14 (e)		1,168
	1,250	2.500%, 01/11/13 (e)		1,253
	820	2.500%, 09/29/15 (e)		857
	400	3.125%, 01/11/16 (e)		425
	1,900	3.650%, 06/14/18 (e)		2,094
	1,277	3.875%, 04/11/22 (e)		1,388
	200	5.125%, 04/10/13 (e)		203
	100	5.125%, 06/10/14 (e)		107
	1,093	5.200%, 09/18/13 (e)		1,131
	265	Monumental Global Funding III, 5.500%, 04/22/13 (e)		270
	1,750	Nationwide Mutual Insurance Co., 9.375%, 08/15/39 (e)		2,519
		New York Life Global Funding,
	740	0.750%, 07/24/15 (e)		741
	350	1.300%, 01/12/15 (e)		355
	775	4.650%, 05/09/13 (e)		789
	2,637	5.375%, 09/15/13 (e)		2,738
		Pacific Life Global Funding,
	650	5.000%, 05/15/17 (e)		695
	410	5.150%, 04/15/13 (e)		417
	570	Pacific Life Insurance Co., 9.250%, 06/15/39 (e)		810
	2,100	Pricoa Global Funding I, 5.450%, 06/11/14 (e)		2,251
	166	Principal Financial Group, Inc., 1.850%, 11/15/17		167
	550	Principal Life Global Funding I, 5.050%, 03/15/15 (e)		601
	215	Principal Life Income Funding Trusts, 5.300%, 12/14/12		215
	1,750	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		2,380
	275	Travelers Cos., Inc. (The), 5.800%, 05/15/18		336
	325	Travelers Property Casualty Corp., 5.000%, 03/15/13		329
				55,355
		Real Estate Investment Trusts (REITs) — 0.3%
		CommonWealth REIT,
	600	5.875%, 09/15/20		643
	320	6.250%, 08/15/16		351
	1,340	6.650%, 01/15/18		1,512
	608	ERP Operating LP, 4.625%, 12/15/21		686
		HCP, Inc.,
	331	2.625%, 02/01/20		330
	161	3.750%, 02/01/19		170

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Real Estate Investment Trusts (REITs) — Continued
	895	5.375%, 02/01/21		1,030
		Simon Property Group LP,
	917	2.150%, 09/15/17		949
	579	4.125%, 12/01/21		652
	32	4.200%, 02/01/15		34
	200	4.375%, 03/01/21		228
	705	5.625%, 08/15/14		762
	675	6.100%, 05/01/16		785
	345	6.125%, 05/30/18		424
	370	6.750%, 05/15/14		396
	440	WEA Finance LLC, 7.125%, 04/15/18 (e)		543
	579	WEA Finance LLC/WT Finance Aust Pty Ltd., 3.375%, 10/03/22 (e)		590
	1,408	WEA Finance LLC/WT Finance Ltd., 6.750%, 09/02/19 (e)		1,743
				11,828
		Thrifts & Mortgage Finance — 0.1%
	400	Countrywide Financial Corp., 6.250%, 05/15/16		441
		Stadshypotek AB, (Sweden),
	1,463	1.450%, 09/30/13 (e)		1,475
	1,148	1.875%, 10/02/19 (e)		1,155
				3,071
		Total Financials		368,585
		Health Care — 0.5%
		Biotechnology — 0.2%
		Amgen, Inc.,
	1,000	3.875%, 11/15/21		1,102
	237	4.500%, 03/15/20		270
	500	4.950%, 10/01/41		550
	2,000	5.150%, 11/15/41		2,281
	265	5.650%, 06/15/42		322
	570	5.700%, 02/01/19		688
	720	5.750%, 03/15/40		868
	1,336	Celgene Corp., 3.250%, 08/15/22		1,372
				7,453
		Health Care Equipment & Supplies — 0.0% (g)
		Baxter International, Inc.,
	380	4.000%, 03/01/14		396
	245	4.625%, 03/15/15		266
	100	Becton Dickinson and Co., 5.000%, 05/15/19		120
				782
		Health Care Providers & Services — 0.1%
		Aetna, Inc.,
	265	4.500%, 05/15/42		279
	440	6.750%, 12/15/37		607
	164	McKesson Corp., 0.950%, 12/04/15		165
	370	Medco Health Solutions, Inc., 2.750%, 09/15/15		387
		UnitedHealth Group, Inc.,
	173	2.750%, 02/15/23		176
	975	3.375%, 11/15/21		1,050
	620	6.625%, 11/15/37		840
		WellPoint, Inc.,
	615	3.125%, 05/15/22		626
	280	3.300%, 01/15/23		288
	500	4.625%, 05/15/42		522
	535	4.650%, 01/15/43		562
	172	5.875%, 06/15/17		204
	115	7.000%, 02/15/19		144
				5,850
		Pharmaceuticals — 0.2%
		AbbVie, Inc.,
	952	1.750%, 11/06/17 (e)		965
	609	2.900%, 11/06/22 (e)		622
	645	AstraZeneca plc, (United Kingdom), 5.400%, 06/01/14		691
		GlaxoSmithKline Capital, Inc.,
	485	4.375%, 04/15/14		511
	750	5.650%, 05/15/18		920
	530	6.375%, 05/15/38		743
		Merck & Co., Inc.,
	474	2.400%, 09/15/22		480

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Pharmaceuticals — Continued
	650	6.000%, 09/15/17		803
	275	Watson Pharmaceuticals, Inc., 3.250%, 10/01/22		283
				6,018
		Total Health Care		20,103
		Industrials — 1.1%
		Aerospace & Defense — 0.2%
	400	BAE Systems Holdings, Inc., 6.375%, 06/01/19 (e)		482
	676	BAE Systems plc, (United Kingdom), 5.800%, 10/11/41 (e)		831
	390	Honeywell International, Inc., 5.300%, 03/01/18		471
		Lockheed Martin Corp.,
	387	2.125%, 09/15/16		403
	292	4.850%, 09/15/41		330
	1,144	5.720%, 06/01/40		1,480
		United Technologies Corp.,
	214	1.800%, 06/01/17		221
	681	3.100%, 06/01/22		733
	914	4.500%, 06/01/42		1,039
	1,261	6.125%, 02/01/19		1,587
				7,577
		Air Freight & Logistics — 0.0% (g)
	214	United Parcel Service, Inc., 2.450%, 10/01/22		217
		Airlines — 0.1%
	252	American Airlines, 2011-1 Class A Pass-Through Trust, 5.250%, 01/31/21		264
	656	American Airlines, 2011-2 Class A Pass-Through Trust, 8.625%, 10/15/21		669
	264	Continental Airlines, 1999-2 Class C-2 Pass-Through Trust, 7.256%, 03/15/20		288
	447	Continental Airlines, 2007-1 Class A Pass-Through Trust, 5.983%, 04/19/22		500
	212	Continental Airlines, 2012-2 Class A Pass-Through Certificates, 4.000%, 10/29/24		222
	574	Delta Air Lines, 2010-2 Class A Pass-Through Trust, Series 2A, 4.950%, 05/23/19		625
	213	Delta Air Lines, 2011-1 Class A Pass-Through Trust, Series A, 5.300%, 04/15/19		233
	482	Delta Air Lines, 2012-1 Class A Pass-
		Through Trust, 4.750%, 05/07/20		512
				3,313
		Commercial Services & Supplies — 0.1%
		ADT Corp. (The),
	420	3.500%, 07/15/22 (e)		422
	328	4.875%, 07/15/42 (e)		331
		Pitney Bowes, Inc.,
	575	4.875%, 08/15/14		600
	1,020	5.000%, 03/15/15		1,061
	200	5.600%, 03/15/18		212
	614	Republic Services, Inc., 3.550%, 06/01/22		647
		Waste Management, Inc.,
	214	4.750%, 06/30/20		247
	455	7.375%, 03/11/19		584
				4,104
		Construction & Engineering — 0.1%
		ABB Finance USA, Inc.,
	226	1.625%, 05/08/17		229
	292	2.875%, 05/08/22		302
	145	4.375%, 05/08/42		162
	789	Fluor Corp., 3.375%, 09/15/21		852
				1,545
		Industrial Conglomerates — 0.1%
	592	Danaher Corp., 3.900%, 06/23/21		669
	212	General Electric Co., 2.700%, 10/09/22		216
		Koninklijke Philips Electronics N.V., (Netherlands),
	970	3.750%, 03/15/22		1,070
	409	5.750%, 03/11/18		497
	130	7.200%, 06/01/26		175
	300	Siemens Financieringsmaatschappij N.V., (Netherlands), 5.750%, 10/17/16 (e)		352
		Turlock Corp.,
	182	1.500%, 11/02/17 (e)		183
	170	4.000%, 11/02/32 (e)		173
				3,335

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Machinery — 0.1%
	164	Caterpillar, Inc., 2.600%, 06/26/22		167
		Deere & Co.,
	819	2.600%, 06/08/22		837
	346	3.900%, 06/09/42		358
		Eaton Corp.,
	500	5.600%, 05/15/18		596
	300	7.625%, 04/01/24		396
	1,920	Illinois Tool Works, Inc., 3.900%, 09/01/42		2,002
	290	Ingersoll-Rand Co., 6.391%, 11/15/27		354
	205	Parker Hannifin Corp., 5.500%, 05/15/18		248
				4,958
		Road & Rail — 0.4%
		Burlington Northern Santa Fe LLC,
	522	3.050%, 03/15/22		547
	300	3.450%, 09/15/21		326
	136	3.600%, 09/01/20		149
	375	4.375%, 09/01/42		403
	1,000	5.400%, 06/01/41		1,215
	540	5.650%, 05/01/17		642
	250	5.750%, 03/15/18		305
	425	5.750%, 05/01/40		535
	250	6.700%, 08/01/28		312
	450	7.000%, 02/01/14		482
		CSX Corp.,
	191	4.100%, 03/15/44		189
	300	4.250%, 06/01/21		340
	575	5.500%, 04/15/41		698
	145	6.250%, 04/01/15		163
	205	7.375%, 02/01/19		263
	500	7.900%, 05/01/17		630
		Norfolk Southern Corp.,
	746	3.250%, 12/01/21		790
	595	3.950%, 10/01/42		602
	100	6.000%, 03/15/05		123
	1,776	6.000%, 05/23/11		2,180
	355	7.700%, 05/15/17		449
		Ryder System, Inc.,
	484	2.500%, 03/01/17		494
	434	3.600%, 03/01/16		460
		Union Pacific Corp.,
	182	2.950%, 01/15/23		189
	710	4.163%, 07/15/22		810
	200	4.300%, 06/15/42		216
	235	4.875%, 01/15/15		255
	907	5.650%, 05/01/17		1,072
		United Parcel Service of America, Inc.,
	355	8.375%, 04/01/20		492
	160	SUB, 8.375%, 04/01/30		245
				15,576
		Total Industrials		40,625
		Information Technology — 0.9%
		Communications Equipment — 0.1%
		Cisco Systems, Inc.,
	878	5.500%, 02/22/16		1,009
	350	5.500%, 01/15/40		446
	755	5.900%, 02/15/39		995
				2,450
		Computers & Peripherals — 0.2%
	300	Dell, Inc., 7.100%, 04/15/28		366
		Hewlett-Packard Co.,
	583	2.600%, 09/15/17		555
	600	4.300%, 06/01/21		566
	781	4.375%, 09/15/21		738
	387	4.650%, 12/09/21		374
	670	4.750%, 06/02/14		692
	1,365	5.400%, 03/01/17		1,450
	2,500	6.000%, 09/15/41		2,350

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Computers & Peripherals — Continued
	1,230	6.125%, 03/01/14		1,287
				8,378
		Electronic Equipment, Instruments & Components — 0.1%
		Arrow Electronics, Inc.,
	575	3.375%, 11/01/15		598
	165	6.000%, 04/01/20		187
	899	6.875%, 07/01/13		929
	725	7.500%, 01/15/27		905
				2,619
		Internet Software & Services — 0.0% (g)
		eBay, Inc.,
	300	2.600%, 07/15/22		305
	271	4.000%, 07/15/42		264
				569
		IT Services — 0.2%
	1,040	HP Enterprise Services LLC, 6.000%, 08/01/13		1,066
		International Business Machines Corp.,
	409	1.250%, 02/06/17		414
	2,600	5.700%, 09/14/17		3,150
	690	6.220%, 08/01/27		945
	1,075	7.625%, 10/15/18		1,447
				7,022
		Office Electronics — 0.0% (g)
		Xerox Corp.,
	196	2.950%, 03/15/17		201
	270	4.500%, 05/15/21		283
	610	5.625%, 12/15/19		688
	550	6.750%, 02/01/17		639
	100	8.250%, 05/15/14		109
				1,920
		Semiconductors & Semiconductor Equipment — 0.1%
	697	Intel Corp., 3.300%, 10/01/21		753
	1,360	National Semiconductor Corp., 6.600%, 06/15/17		1,690
		Texas Instruments, Inc.,
	750	1.375%, 05/15/14		761
	365	1.650%, 08/03/19		367
				3,571
		Software — 0.2%
	360	Intuit, Inc., 5.750%, 03/15/17		418
		Microsoft Corp.,
	262	0.875%, 11/15/17		262
	720	1.625%, 09/25/15		741
	384	2.125%, 11/15/22		384
	117	4.500%, 10/01/40		133
		Oracle Corp.,
	500	5.000%, 07/08/19		602
	1,412	5.250%, 01/15/16		1,604
	728	5.750%, 04/15/18		892
	465	6.500%, 04/15/38		655
				5,691
		Total Information Technology		32,220
		Materials — 0.5%
		Chemicals — 0.4%
	269	Air Products & Chemicals, Inc., 4.150%, 02/01/13		271
		Dow Chemical Co. (The),
	542	3.000%, 11/15/22		541
	385	4.125%, 11/15/21		419
	203	4.250%, 11/15/20		224
	200	5.250%, 11/15/41		223
	370	7.375%, 11/01/29		495
	250	7.600%, 05/15/14		274
	158	8.550%, 05/15/19		214
		E.I. du Pont de Nemours & Co.,
	635	1.950%, 01/15/16		657
	350	4.900%, 01/15/41		424
	1,630	6.000%, 07/15/18		2,033
	150	Ecolab, Inc., 5.500%, 12/08/41		180

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Chemicals — Continued
		Mosaic Co. (The),
	280	3.750%, 11/15/21		301
	79	4.875%, 11/15/41		90
	875	Potash Corp. of Saskatchewan, Inc., (Canada), 4.875%, 03/01/13		884
		PPG Industries, Inc.,
	114	5.500%, 11/15/40		135
	415	5.750%, 03/15/13		421
	700	6.650%, 03/15/18		876
	355	9.000%, 05/01/21		496
		Praxair, Inc.,
	662	4.625%, 03/30/15		723
	885	5.250%, 11/15/14		961
		Union Carbide Corp.,
	1,000	7.500%, 06/01/25		1,235
	850	7.750%, 10/01/96		1,038
				13,115
		Metals & Mining — 0.1%
		BHP Billiton Finance USA Ltd., (Australia),
	410	5.400%, 03/29/17		481
	425	5.500%, 04/01/14		453
	560	6.500%, 04/01/19		721
	1,329	Freeport-McMoRan Copper & Gold, Inc., 2.150%, 03/01/17		1,359
	295	Placer Dome, Inc., (Canada), 6.450%, 10/15/35		358
		Rio Tinto Finance USA Ltd., (Australia),
	117	3.500%, 11/02/20		126
	550	3.750%, 09/20/21		595
	650	9.000%, 05/01/19		894
	393	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		398
				5,385
		Total Materials		18,500
		Telecommunication Services — 1.2%
		Diversified Telecommunication Services — 1.1%
	13	AT&T Corp., 8.000%, 11/15/31		20
		AT&T, Inc.,
	850	4.450%, 05/15/21		991
	386	5.100%, 09/15/14		416
	375	5.350%, 09/01/40		436
	250	5.500%, 02/01/18		300
	2,700	6.300%, 01/15/38		3,465
	583	Bellsouth Capital Funding Corp., 7.120%, 07/15/97		744
		BellSouth Corp.,
	1,373	5.200%, 09/15/14		1,482
	462	6.875%, 10/15/31		571
		BellSouth Telecommunications, Inc.,
	683	6.300%, 12/15/15		722
	300	7.000%, 10/01/25		385
	117	7.000%, 12/01/95		147
		British Telecommunications plc, (United Kingdom),
	200	2.000%, 06/22/15		206
	2,500	5.150%, 01/15/13		2,513
	600	Centel Capital Corp., 9.000%, 10/15/19		718
		CenturyLink, Inc.,
	1,380	6.450%, 06/15/21		1,517
	920	7.600%, 09/15/39		953
		Deutsche Telekom International Finance B.V., (Netherlands),
	336	2.250%, 03/06/17 (e)		345
	1,150	4.875%, 07/08/14		1,220
	232	4.875%, 03/06/42 (e)		250
	400	6.000%, 07/08/19		493
	325	8.750%, 06/15/30		489
		France Telecom S.A., (France),
	560	2.750%, 09/14/16		588
	1,305	8.500%, 03/01/31		1,935
	2,100	GTE Corp., 6.840%, 04/15/18		2,657
	267	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		271

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Diversified Telecommunication Services — Continued
	741	Qwest Corp., 6.750%, 12/01/21		869
		Telecom Italia Capital S.A., (Luxembourg),
	1,000	4.950%, 09/30/14		1,037
	1,621	5.250%, 11/15/13		1,664
	765	6.999%, 06/04/18		862
		Telefonica Emisiones S.A.U., (Spain),
	316	5.462%, 02/16/21		321
	880	5.855%, 02/04/13		884
	515	5.877%, 07/15/19		541
	300	6.421%, 06/20/16		324
		Verizon Communications, Inc.,
	650	5.500%, 04/01/17		768
	443	5.550%, 02/15/16		507
	100	5.850%, 09/15/35		126
	175	6.400%, 02/15/38		237
	1,250	7.350%, 04/01/39		1,884
	1,475	Verizon Global Funding Corp., 7.750%, 12/01/30		2,170
	1,444	Verizon Pennsylvania, Inc., 8.350%, 12/15/30		2,006
	1,012	Verizon Virginia, Inc., 4.625%, 03/15/13		1,024
				39,058
		Wireless Telecommunication Services — 0.1%
		America Movil S.A.B. de C.V., (Mexico),
	640	2.375%, 09/08/16		667
	592	3.125%, 07/16/22		606
	500	Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14		526
	485	Crown Castle Towers LLC, 3.214%, 08/15/15 (e)		507
		Vodafone Group plc, (United Kingdom),
	1,200	1.625%, 03/20/17		1,221
	1,145	5.000%, 09/15/15		1,275
				4,802
		Total Telecommunication Services		43,860
		Utilities — 1.9%
		Electric Utilities — 1.4%
	229	Alabama Power Co., 6.125%, 05/15/38		309
	286	American Electric Power Co., Inc., 1.650%, 12/15/17		287
		Arizona Public Service Co.,
	296	4.500%, 04/01/42		317
	467	5.050%, 09/01/41		542
	380	Baltimore Gas & Electric Co., 2.800%, 08/15/22		389
		Carolina Power & Light Co.,
	525	2.800%, 05/15/22		546
	273	4.100%, 05/15/42		288
	888	5.125%, 09/15/13		921
	310	5.300%, 01/15/19		376
	1,005	Cleveland Electric Illuminating Co. (The), 7.880%, 11/01/17		1,266
	831	Comision Federal de Electricidad, (Mexico), 4.875%, 05/26/21 (e)		939
	185	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		221
	596	Consolidated Edison Co. of New York, Inc., 5.700%, 06/15/40		774
		Consumers Energy Co.,
	216	2.850%, 05/15/22		226
	130	5.650%, 04/15/20		163
	224	Detroit Edison Co. (The), 2.650%, 06/15/22		229
		Duke Energy Carolinas LLC,
	129	4.250%, 12/15/41		137
	660	5.100%, 04/15/18		795
	100	6.000%, 01/15/38		133
	1,310	Duke Energy Indiana, Inc., 6.350%, 08/15/38		1,778
	950	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		989
		Exelon Generation Co. LLC,
	1,020	4.000%, 10/01/20		1,090
	235	5.750%, 10/01/41		260
		Florida Power & Light Co.,
	420	5.950%, 10/01/33		557

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Electric Utilities — Continued
	335	5.950%, 02/01/38		452
		Florida Power Corp.,
	290	5.650%, 06/15/18		353
	240	6.400%, 06/15/38		330
		Georgia Power Co.,
	210	5.950%, 02/01/39		276
	225	6.000%, 11/01/13		236
	229	Great Plains Energy, Inc., 4.850%, 06/01/21		255
	1,000	Hydro-Quebec, (Canada), 8.400%, 01/15/22		1,447
	100	Indiana Michigan Power Co., 7.000%, 03/15/19		128
	100	Jersey Central Power & Light Co., 7.350%, 02/01/19		130
	779	John Sevier Combined Cycle Generation LLC, 4.626%, 01/15/42		893
	1,400	Kansas City Power & Light Co., 5.300%, 10/01/41		1,646
	43	Kiowa Power Partners LLC, 4.811%, 12/30/13 (e)		43
	105	MidAmerican Energy Co., 5.300%, 03/15/18		126
		Nevada Power Co.,
	55	5.375%, 09/15/40		68
	305	5.450%, 05/15/41		386
	720	6.500%, 08/01/18		906
	100	6.650%, 04/01/36		137
		NextEra Energy Capital Holdings, Inc.,
	196	1.200%, 06/01/15		197
	255	5.350%, 06/15/13		261
	725	6.000%, 03/01/19		863
	280	7.875%, 12/15/15		336
	300	Niagara Mohawk Power Corp., 4.881%, 08/15/19 (e)		354
		Nisource Finance Corp.,
	370	3.850%, 02/15/23		384
	360	4.450%, 12/01/21		401
	1,256	5.800%, 02/01/42		1,431
	510	Northern States Power Co., 6.250%, 06/01/36		719
		Ohio Power Co.,
	320	5.750%, 09/01/13		332
	310	6.050%, 05/01/18		376
		Oncor Electric Delivery Co. LLC,
	840	6.800%, 09/01/18		1,041
	110	7.000%, 09/01/22		140
		Pacific Gas & Electric Co.,
	544	2.450%, 08/15/22		549
	71	3.250%, 09/15/21		76
	217	4.450%, 04/15/42		238
	390	4.500%, 12/15/41		429
	780	5.625%, 11/30/17		952
	160	8.250%, 10/15/18		219
		PacifiCorp,
	180	5.500%, 01/15/19		220
	150	5.650%, 07/15/18		185
		Peco Energy Co.,
	350	2.375%, 09/15/22		358
	175	5.350%, 03/01/18		212
	1,070	Potomac Electric Power Co., 6.500%, 11/15/37		1,558
		Progress Energy, Inc.,
	673	3.150%, 04/01/22		688
	300	6.050%, 03/15/14		320
		Public Service Co. of Colorado,
	250	2.250%, 09/15/22		251
	90	3.200%, 11/15/20		99
	125	5.800%, 08/01/18		155
	2,490	Public Service Co. of Oklahoma, 6.625%, 11/15/37		3,238
		Public Service Electric & Gas Co.,
	205	5.300%, 05/01/18		247
	277	5.375%, 11/01/39		351
	2,000	6.330%, 11/01/13		2,104

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Electric Utilities — Continued
		San Diego Gas & Electric Co.,
	379	3.950%, 11/15/41		403
	275	6.000%, 06/01/26		379
		Southern California Edison Co.,
	175	4.150%, 09/15/14		185
	765	5.500%, 08/15/18		941
	391	5.750%, 03/15/14		417
	200	5.950%, 02/01/38		272
	1,185	6.050%, 03/15/39		1,640
		Southern Co. (The),
	363	1.950%, 09/01/16		376
	270	4.150%, 05/15/14		283
	202	Southern Power Co., 5.150%, 09/15/41		232
	570	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		780
		Spectra Energy Capital LLC,
	1,615	5.500%, 03/01/14		1,697
	500	6.200%, 04/15/18		610
	400	8.000%, 10/01/19		527
		Virginia Electric and Power Co.,
	1,395	5.400%, 04/30/18		1,700
	625	5.950%, 09/15/17		770
				51,840
		Gas Utilities — 0.2%
		AGL Capital Corp.,
	563	3.500%, 09/15/21		616
	345	4.450%, 04/15/13		350
	1,445	5.875%, 03/15/41		1,919
	1,243	6.375%, 07/15/16		1,472
	285	Atmos Energy Corp., 8.500%, 03/15/19		386
	308	Boston Gas Co., 4.487%, 02/15/42 (e)		330
	335	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		405
		TransCanada PipeLines Ltd., (Canada),
	993	4.000%, 06/15/13		1,012
	550	6.200%, 10/15/37		734
	340	6.500%, 08/15/18		432
	1,100	7.250%, 08/15/38		1,615
				9,271
		Independent Power Producers & Energy Traders — 0.1%
	1,500	PPL Energy Supply LLC, 4.600%, 12/15/21		1,644
	772	PSEG Power LLC, 5.125%, 04/15/20		891
				2,535
		Multi-Utilities — 0.2%
	235	Delmarva Power & Light Co., 4.000%, 06/01/42		250
		Dominion Resources, Inc.,
	920	5.250%, 08/01/33		1,075
	300	7.000%, 06/15/38		434
	600	8.875%, 01/15/19		819
	375	PG&E Corp., 5.750%, 04/01/14		399
		Sempra Energy,
	350	2.875%, 10/01/22		352
	1,145	6.150%, 06/15/18		1,409
	180	6.500%, 06/01/16		213
	860	8.900%, 11/15/13		925
	435	9.800%, 02/15/19		610
		Wisconsin Electric Power Co.,
	21	2.950%, 09/15/21		22
	450	6.000%, 04/01/14		482
	265	6.250%, 12/01/15		308
	92	Xcel Energy, Inc., 4.800%, 09/15/41		107
				7,405
		Water Utilities — 0.0% (g)
	1,100	American Water Capital Corp., 6.085%, 10/15/17		1,307
		Total Utilities		72,358
		Total Corporate Bonds (Cost $668,073)		737,648

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Foreign Government Securities — 1.4%
			Israel Government AID Bond, (Israel),
	6,000		Zero Coupon, 08/15/17		5,718
	20,000		Zero Coupon, 03/15/18		18,826
	5,651		Zero Coupon, 08/15/18		5,268
	1,500		Zero Coupon, 11/01/23		1,146
	1,500		Zero Coupon, 11/01/24		1,088
	1,000		5.500%, 09/18/33		1,375
	600		Province of Manitoba, (Canada), 2.125%, 04/22/13		604
			Province of Ontario, (Canada),
	700		2.700%, 06/16/15		738
	2,220		2.950%, 02/05/15		2,338
	1,387		Province of Ontario Canada, (Canada), 1.650%, 09/27/19		1,395
	377		Province of Quebec, (Canada), SUB, 7.365%, 03/06/26		553
	5,000		Tunisia Government AID Bond, (Tunisia), 1.686%, 07/16/19		4,973
			United Mexican States, (Mexico),
	120		4.750%, 03/08/44		136
	1,432		6.375%, 01/16/13		1,438
	856		6.625%, 03/03/15		961
	3,338		7.500%, 04/08/33		5,099
			Total Foreign Government Securities (Cost $48,494)		51,656
	Mortgage Pass-Through Securities — 11.5%
			Federal Home Loan Mortgage Corp.,
	48		ARM, 2.078%, 07/01/19		51
	47		ARM, 2.310%, 04/01/30		50
	731		ARM, 2.355%, 12/01/33		762
	556		ARM, 2.498%, 10/01/36		595
	419		ARM, 2.671%, 12/01/36		449
	550		ARM, 2.686%, 11/01/36		587
	558		ARM, 2.693%, 12/01/34		592
	1,250		ARM, 2.704%, 03/01/37		1,350
	155		ARM, 2.714%, 10/01/36		166
	383		ARM, 2.732%, 02/01/36		402
	274		ARM, 2.858%, 02/01/37		292
	1,279		ARM, 2.868%, 04/01/34		1,366
	793		ARM, 3.224%, 10/01/36		849
	947		ARM, 4.894%, 02/01/36		1,019
	1,044		ARM, 5.029%, 01/01/35		1,127
	774		ARM, 5.067%, 07/01/36		835
	211		ARM, 5.618%, 05/01/36		227
	1,069		ARM, 6.037%, 11/01/36		1,159
			Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	1,076		4.000%, 08/01/18 - 05/01/19		1,142
	199		4.500%, 08/01/18		217
	559		5.000%, 12/01/18		603
	4,653		5.500%, 06/01/17 - 01/01/24		5,050
	72		6.000%, 04/01/18		79
	726		6.500%, 08/01/16 - 02/01/19		779
	34		7.000%, 01/01/17 - 04/01/17		35
	–	(h)	7.500%, 10/01/14		—	(h)
	3		8.500%, 11/01/15		3
			Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	2,670		3.500%, 01/01/32		2,855
	171		6.000%, 12/01/22		187
	483		6.500%, 11/01/22		540
			Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	2,490		4.000%, 09/01/35		2,663
	7,516		4.500%, 05/01/41		8,073
	7,638		5.000%, 09/01/34 - 08/01/40		8,370
	3,216		5.500%, 10/01/33 - 07/01/35		3,518
	562		6.000%, 12/01/33 - 01/01/34		623
	3,359		6.500%, 11/01/34 - 11/01/36		3,858
	860		7.000%, 07/01/32 - 10/01/36		997
	1,025		Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		1,211

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
		Federal Home Loan Mortgage Corp. Gold Pools, Other,
	5,186	3.500%, 06/01/42		5,624
	5,361	4.000%, 06/01/42		5,975
	566	5.500%, 10/01/33 - 01/01/34		609
	1,404	6.000%, 02/01/33		1,539
	165	7.000%, 07/01/29		180
		Federal Home Loan Mortgage Corp., 30 Year, Single Family,
	5	12.000%, 08/01/15 - 07/01/19		5
		Federal National Mortgage Association,
	17	ARM, 1.879%, 03/01/19		17
	174	ARM, 2.063%, 09/01/34		183
	407	ARM, 2.144%, 01/01/36		430
	1,088	ARM, 2.157%, 01/01/33		1,139
	334	ARM, 2.170%, 07/01/34		356
	644	ARM, 2.216%, 11/01/34		684
	1,997	ARM, 2.220%, 01/01/35		2,127
	371	ARM, 2.277%, 07/01/33 - 11/01/33		391
	1,704	ARM, 2.285%, 09/01/35		1,816
	812	ARM, 2.295%, 08/01/34		865
	725	ARM, 2.315%, 07/01/36		770
	918	ARM, 2.325%, 07/01/33		983
	746	ARM, 2.335%, 05/01/34		798
	599	ARM, 2.366%, 04/01/35		638
	2,393	ARM, 2.370%, 04/01/35		2,531
	8	ARM, 2.381%, 01/01/19		9
	982	ARM, 2.384%, 05/01/35		1,043
	827	ARM, 2.471%, 01/01/35		878
	415	ARM, 2.529%, 10/01/34		444
	402	ARM, 2.537%, 04/01/34		423
	1,270	ARM, 2.544%, 06/01/35		1,350
	1,062	ARM, 2.567%, 11/01/34		1,127
	90	ARM, 2.607%, 04/01/34		96
	262	ARM, 2.608%, 02/01/35		280
	973	ARM, 2.637%, 10/01/34		1,038
	254	ARM, 2.642%, 01/01/34		270
	242	ARM, 2.655%, 09/01/35		260
	687	ARM, 2.665%, 10/01/34		733
	229	ARM, 2.720%, 05/01/35		241
	439	ARM, 2.747%, 08/01/34		470
	392	ARM, 2.757%, 09/01/34		421
	427	ARM, 2.795%, 06/01/36		457
	634	ARM, 2.935%, 09/01/33		679
	97	ARM, 2.942%, 09/01/27		102
	709	ARM, 3.192%, 10/01/36		759
	204	ARM, 3.319%, 02/01/34		217
	143	ARM, 3.375%, 01/01/36		153
	85	ARM, 3.821%, 03/01/29		91
	1,135	ARM, 4.926%, 07/01/33		1,209
	498	ARM, 5.096%, 01/01/38		531
	652	ARM, 5.575%, 01/01/23		715
	23,322	01/01/20 - 01/01/43		23,682
	1,475	4.317%, 07/01/21		1,737
		Federal National Mortgage Association, 15 Year, Single Family,
	1,174	3.500%, 09/01/18 - 07/01/19		1,245
	3,432	4.000%, 07/01/18 - 11/01/18		3,680
	6,048	4.500%, 06/01/18 - 12/01/19		6,567
	1,521	5.000%, 12/01/16 - 08/01/24		1,655
	1,467	5.500%, 03/01/20 - 07/01/20		1,583
	8,236	6.000%, 06/01/16 - 01/01/24		9,033
	312	6.500%, 03/01/17 - 08/01/20		340
	341	7.000%, 03/01/17 - 09/01/17		366
	9	7.500%, 03/01/17		10
	4	8.000%, 11/01/15		4

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
		Federal National Mortgage Association, 20 Year, Single Family,
	1,954	3.500%, 08/01/32		2,092
	255	4.500%, 04/01/24		280
	1,742	6.500%, 05/01/22 - 04/01/25		1,949
		Federal National Mortgage Association, 30 Year, FHA/VA,
	120	6.000%, 09/01/33		135
	1,769	6.500%, 03/01/29 - 08/01/39		2,033
	47	7.000%, 02/01/33		57
	58	8.000%, 06/01/28		70
	36	9.000%, 05/01/18 - 12/01/25		39
		Federal National Mortgage Association, 30 Year, Single Family,
	819	4.500%, 11/01/33 - 02/01/35		887
	2,240	5.000%, 07/01/33 - 09/01/35		2,511
	3,864	5.500%, 09/01/31 - 02/01/38		4,319
	4,566	6.000%, 12/01/28 - 09/01/37		5,110
	1,758	6.500%, 11/01/29 - 08/01/31		2,059
	1,783	7.000%, 01/01/24 - 01/01/39		2,101
	866	7.500%, 08/01/36 - 11/01/37		1,053
	774	8.000%, 03/01/27 - 11/01/28		950
	1	9.000%, 04/01/26		1
	15	9.500%, 07/01/28		18
	5	12.500%, 01/01/16		5
		Federal National Mortgage Association, Other,
	3,000	VAR, 0.608%, 10/01/22		3,008
	1,483	VAR, 0.954%, 01/01/19		1,490
	987	VAR, 1.014%, 03/01/22		1,002
	2,455	VAR, 6.070%, 11/01/18		2,658
	2,000	2.004%, 07/01/19		2,046
	4,569	2.097%, 08/01/19		4,752
	2,000	2.211%, 04/01/19		2,105
	3,375	2.370%, 11/01/22		3,486
	5,817	2.490%, 10/01/17		6,207
	3,000	2.604%, 10/01/22		3,135
	3,000	2.670%, 07/01/22		3,146
	6,991	2.690%, 10/01/17		7,502
	3,314	2.841%, 03/01/22		3,469
	3,867	2.970%, 11/01/18		4,202
	1,488	3.038%, 05/01/22		1,600
	7,212	3.070%, 01/01/22		7,829
	4,500	3.100%, 02/01/22		4,863
	3,886	3.224%, 01/01/22 - 05/01/22		4,229
	1,520	3.225%, 12/01/21		1,659
	10,000	3.230%, 11/01/20		10,971
	2,813	3.265%, 02/01/22		3,070
	2,000	3.290%, 10/01/20		2,201
	3,972	3.306%, 02/01/22		4,343
	2,270	3.368%, 01/01/22		2,493
	2,000	3.461%, 11/01/20		2,207
	974	3.487%, 11/01/20		1,081
	2,000	3.503%, 08/01/17		2,197
	1,977	3.520%, 01/01/18		2,192
	1,486	3.544%, 09/01/20		1,645
	2,916	3.600%, 09/01/20		3,261
	7,632	3.621%, 09/01/20		8,491
	4,938	3.658%, 10/01/20		5,509
	1,935	3.740%, 07/01/20		2,182
	991	3.761%, 01/01/25		1,105
	2,993	3.802%, 09/01/20		3,364
	3,000	3.895%, 09/01/21		3,416
	2,950	3.906%, 09/01/21		3,353
	6,878	3.916%, 09/01/21		7,821
	1,992	3.930%, 07/01/20		2,271
	4,816	3.947%, 06/01/17		5,339

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
	4,750	3.980%, 11/01/16		5,023
	1,540	3.999%, 01/01/21		1,755
	4,599	4.000%, 11/01/33 - 07/01/42		5,023
	5,000	4.019%, 09/01/21		5,721
	2,000	4.061%, 01/01/21		2,290
	7,956	4.081%, 07/01/20 - 07/01/21		9,116
	1,452	4.130%, 07/01/20		1,672
	2,380	4.250%, 04/01/21		2,786
	1,697	4.257%, 04/01/20		1,951
	4,476	4.267%, 11/01/19 - 08/01/21		5,160
	2,096	4.290%, 06/01/20		2,436
	1,490	4.350%, 04/01/20		1,738
	1,466	4.380%, 01/01/21		1,721
	1,920	4.381%, 11/01/19		2,230
	2,000	4.390%, 05/01/21		2,354
	2,000	4.391%, 04/01/21		2,341
	2,000	4.402%, 07/01/21		2,339
	2,454	4.443%, 08/01/20 - 04/01/21		2,848
	1,468	4.444%, 01/01/21		1,729
	2,159	4.474%, 04/01/21		2,530
	5,000	4.484%, 06/01/21		5,892
	953	4.500%, 03/01/20		1,107
	970	4.514%, 04/01/20		1,135
	1,989	4.515%, 02/01/20		2,323
	6,793	4.530%, 12/01/19		8,066
	4,340	4.540%, 01/01/20		5,094
	2,000	4.546%, 02/01/20		2,340
	2,941	4.629%, 02/01/21		3,469
	3,924	4.794%, 01/01/21		4,657
	655	5.500%, 03/01/17 - 09/01/33		705
	2,433	6.000%, 09/01/37 - 06/01/39		2,593
	960	6.500%, 01/01/36 - 07/01/36		1,073
	110	7.000%, 10/01/46		123
	89	10.890%, 04/15/19		98
		Government National Mortgage Association II, 30 Year, Single Family,
	463	4.500%, 08/20/33		511
	6,817	6.000%, 09/20/38		7,648
	77	7.500%, 02/20/28 - 09/20/28		94
	125	8.000%, 12/20/25 - 09/20/28		155
	39	8.500%, 05/20/25		48
		Government National Mortgage Association, 15 Year, Single Family,
	91	6.500%, 06/15/17		98
	106	8.000%, 01/15/16		111
		Government National Mortgage Association, 30 Year, Single Family,
	398	6.500%, 03/15/28 - 04/15/33		470
	273	7.000%, 02/15/33 - 06/15/33		323
	89	7.500%, 11/15/22 - 11/15/31		100
	20	8.000%, 09/15/22 - 08/15/28		22
	4	9.000%, 12/15/16		4
	1,026	9.500%, 10/15/24		1,185
		Total Mortgage Pass-Through Securities (Cost $400,220)		429,015
	Municipal Bonds — 0.3% (t)
		California — 0.0% (g)
	440	Los Angeles Department of Airports, Taxable Build America Bonds, Rev., 6.582%, 05/15/39		581
	350	State of California, Build America Bonds, GO, 7.300%, 10/01/39		484
				1,065
		Illinois — 0.0% (g)
	160	State of Illinois, Taxable Pension, GO, 5.100%, 06/01/33		162
		New York — 0.2%
	360	New York State Dormitory Authority, State Personal Income Tax, Build America Bonds, Rev., 5.600%, 03/15/40		456

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Municipal Bonds — Continued
		New York — Continued
		Port Authority of New York & New Jersey,
	2,500	Rev., 4.458%, 10/01/62		2,507
	1,825	Rev., 5.647%, 11/01/40		2,240
				5,203
		Ohio — 0.1%
	1,315	American Municipal Power, Inc., Build America Bonds, Series B, Rev., 7.499%, 02/15/50		1,819
	1,563	Ohio State University (The), Series A, Rev., 4.800%, 06/01/11		1,816
				3,635
		Total Municipal Bonds (Cost $8,741)		10,065
	Supranational — 0.1%
	3,000	African Development Bank, (Supranational), 8.800%, 09/01/19		4,052
		Corp. Andina de Fomento, (Supranational),
	641	3.750%, 01/15/16		673
	397	5.200%, 05/21/13		405
		Total Supranational (Cost $5,084)		5,130
	U.S. Government Agency Securities — 1.6%
	646	Federal Farm Credit Banks, 5.125%, 11/15/18		795
	1,525	Federal Home Loan Bank, 5.500%, 07/15/36		2,142
		Federal National Mortgage Association,
	6,000	Zero Coupon, 06/01/17		5,767
	1,000	5.000%, 05/11/17		1,191
		Financing Corp. Fico,
	3,500	Zero Coupon, 05/11/18		3,259
	2,000	Zero Coupon, 04/05/19		1,819
	1,240	Zero Coupon, 09/26/19		1,112
		Government Trust Certificate,
	4,000	Zero Coupon, 10/01/15		3,861
	5,000	Zero Coupon, 04/01/16		4,789
	13,319	Zero Coupon, 10/01/19		11,662
		Residual Funding Corp. STRIPS,
	4,000	Zero Coupon, 10/15/19		3,654
	11,050	Zero Coupon, 07/15/20		9,841
	4,930	Zero Coupon, 10/15/20		4,351
		Tennessee Valley Authority,
	304	4.625%, 09/15/60		376
	765	5.880%, 04/01/36		1,090
	2,000	Tennessee Valley Authority Generic STRIPS, Zero Coupon, 05/01/19		1,797
		Total U.S. Government Agency Securities (Cost $54,184)		57,506
	U.S. Treasury Obligations — 24.7%
		U.S. Treasury Bonds,
	7,575	4.500%, 02/15/36		10,181
	600	4.500%, 05/15/38		811
	300	4.500%, 08/15/39		407
	1,150	4.750%, 02/15/37		1,603
	1,250	5.375%, 02/15/31		1,823
	750	6.125%, 11/15/27		1,135
	300	6.125%, 08/15/29		464
	2,296	6.250%, 08/15/23		3,336
	900	6.250%, 05/15/30		1,421
	400	6.625%, 02/15/27		626
	4,690	7.500%, 11/15/16		5,981
	1,881	7.875%, 02/15/21		2,863
	864	8.125%, 05/15/21		1,341
	2,225	8.500%, 02/15/20		3,383
	1,500	8.750%, 05/15/20		2,328
	6,675	8.750%, 08/15/20		10,446
	22,765	8.875%, 08/15/17		31,546
	400	U.S. Treasury Bonds STRIPS, 05/15/35		212
		U.S. Treasury Inflation Indexed Bonds,
	300	2.500%, 01/15/29		467
	799	3.625%, 04/15/28 (m)		1,833
		U.S. Treasury Inflation Indexed Notes,
	1,000	0.500%, 04/15/15		1,113
	1,500	0.625%, 04/15/13		1,641

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Treasury Obligations — Continued
	1,000	1.125%, 01/15/21		1,252
	1,000	1.250%, 04/15/14		1,126
	630	1.375%, 07/15/18		790
	2,000	2.000%, 01/15/14		2,586
		U.S. Treasury Notes,
	1,500	0.250%, 10/31/13		1,501
	4,000	1.375%, 01/15/13		4,006
	11,635	1.375%, 11/30/18		12,010
	4,900	1.500%, 08/31/18		5,097
	2,000	1.750%, 04/15/13		2,012
	1,000	1.750%, 01/31/14		1,018
	31,000	1.750%, 10/31/18 (m)		32,688
	1,000	1.875%, 02/28/14		1,020
	2,000	1.875%, 04/30/14		2,046
	12,245	2.125%, 12/31/15		12,908
	21,972	2.625%, 12/31/14		23,048
	1,000	2.625%, 02/29/16		1,073
	4,575	2.625%, 04/30/16		4,921
	9,300	2.625%, 01/31/18		10,230
	700	2.625%, 08/15/20		775
	1,000	2.625%, 11/15/20		1,107
	500	2.750%, 10/31/13		512
	19,485	2.750%, 05/31/17		21,408
	7,500	2.750%, 12/31/17		8,295
	2,500	2.875%, 01/31/13		2,511
	1,000	3.125%, 04/30/13		1,012
	8,000	3.125%, 10/31/16		8,827
	6,015	3.125%, 04/30/17		6,695
	11,638	3.125%, 05/15/19		13,266
	15,700	3.250%, 12/31/16		17,458
	12,300	3.250%, 03/31/17		13,739
	2,000	3.375%, 07/31/13		2,042
	900	3.500%, 02/15/18		1,030
	1,000	3.500%, 05/15/20		1,172
	4,000	3.875%, 02/15/13		4,030
	10,000	4.000%, 02/15/15		10,815
	2,000	4.250%, 08/15/13		2,057
	3,725	4.500%, 11/15/15		4,179
	10,375	4.750%, 08/15/17		12,388
		U.S. Treasury STRIPS,
	14,400	02/15/14 (m)		14,361
	7,665	08/15/14 (m)		7,631
	23,533	11/15/14 (m)		23,406
	17,230	02/15/15 (m)		17,117
	20,680	02/15/15		20,546
	3,926	05/15/15		3,896
	3,253	08/15/15		3,223
	28,397	11/15/15		28,092
	5,445	11/15/15		5,399
	51,751	02/15/16		51,111
	14,070	05/15/16		13,871
	1,000	05/15/16		986
	5,681	08/15/16		5,586
	15,857	11/15/16		15,547
	20,629	02/15/17		20,165
	21,411	08/15/17		20,791
	20,589	11/15/17		19,915
	2,000	02/15/18		1,926
	8,400	05/15/18		8,055
	16,241	08/15/18		15,501
	6,982	02/15/19		6,596
	10,595	05/15/19		9,949
	22,360	08/15/19		20,884
	2,435	02/15/20		2,242

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Treasury Obligations — Continued
	67,929	05/15/20 (m)		62,145
	250	05/15/20		229
	37,935	08/15/20 (m)		34,477
	655	11/15/20		591
	345	02/15/21		309
	17,000	05/15/21		15,087
	4,300	08/15/21		3,786
	4,925	11/15/21		4,300
	1,278	02/15/22		1,105
	5,487	02/15/23		4,576
	1,000	05/15/23		827
	200	05/15/24		159
	600	08/15/24		473
	1,400	11/15/24		1,094
	1,000	02/15/26		745
	1,500	05/15/26		1,106
	3,400	08/15/26		2,483
	28,150	11/15/26		20,360
	28,300	02/15/27		20,261
	3,550	05/15/27		2,519
	5,000	08/15/27		3,514
	800	11/15/27		557
	7,050	02/15/28		4,862
	1,600	05/15/28		1,094
	3,000	08/15/28		2,031
	2,500	11/15/28		1,679
	925	02/15/29		615
	1,600	08/15/29		1,045
	1,650	11/15/29		1,069
	21,300	02/15/30		13,673
	2,000	05/15/30		1,273
	8,200	08/15/30		5,169
	7,425	11/15/30		4,641
	800	02/15/31		496
	2,000	05/15/31		1,228
	1,500	08/15/31		913
	3,000	11/15/31		1,809
	750	02/15/32		448
	1,000	05/15/32		592
	350	08/15/32		205
	6,140	11/15/32		3,568
	11,150	05/15/33		6,362
	3,050	08/15/33		1,724
	3,700	11/15/33		2,071
	4,000	02/15/34		2,220
	2,800	05/15/34		1,539
	1,650	08/15/34		899
	2,850	02/15/35		1,523
	100	08/15/35		52
		Total U.S. Treasury Obligations (Cost $821,829)		917,910
SHARES
	Short-Term Investment — 1.8%
		Investment Company — 1.8%
	68,102	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.110% (b) (l) (Cost $68,102)		68,102
		Total Investments — 100.8% (Cost $3,442,383)		3,747,320
		Liabilities in Excess of Other Assets — (0.8)%		(29,485	)
		NET ASSETS — 100.0%	$	3,717,835

Percentages indicated are based on net assets.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

ARM	—	Adjustable Rate Mortgage. The interest rate shown is the rate
		in effect as of November 30, 2012.
CMO	—	Collateralized Mortgage Obligation
ESOP	—	Employee Stock Ownership Program
FHA	—	Federal Housing Administration
GMAC	—	General Motors Acceptance Corp.
GO	—	General Obligation
HB	—	High Coupon Bonds (a.k.a. “IOettes”) represent the right to receive interest payments on an underlying pool of mortgages with similar features as those associated with IO securities. Unlike IO’s, the owner also has a right to receive a very small portion of principal. The high interest rates result from taking interest payments from other classes in the Real Estate Mortgage Investment Conduit trust and allocating them to the small principal of the HB class.
IF	—	Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index. The interest rate shown is the rate in effect as of November 30, 2012. The rate may be subject to a cap and floor.
IO	—	Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.
PO	—	Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases.
REMICS	—	Real Estate Mortgage Investment Conduits
Rev.	—	Revenue
STRIPS	—	Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.
SUB	—	Step-Up Bond. The interest rate shown is the rate in effect as of November 30, 2012.
VA	—	Veterans Administration
VAR	—	Variable Rate Security. The interest rate shown is the rate in effect as of November 30, 2012.

(b) Investment in affiliate. Money market fund registered under the Investment Company Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc.

(e) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(g) Amount rounds to less than 0.1%.

(h) Amount rounds to less than one thousand (shares or dollars).

(i) Security has been deemed illiquid pursuant to procedures approved by the Board of Trustees and may be difficult to sell.

(l) The rate shown is the current yield as of November 30, 2012.

(m) All or a portion of this security is reserved and/or pledged with the custodian for current or potential holdings of futures, swaps, options, TBAs, when-issued securities, delayed delivery securities, reverse repurchase agreements, unfunded commitments and/or forward foreign currency exchange contracts.

(t) The date shown represents the earliest of the prerefunded date, next put date or final maturity date.

As of November 30, 2012, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	322,481
Aggregate gross unrealized depreciation		(17,544	)
Net unrealized appreciation/depreciation	$	304,937
Federal income tax cost of investments	$	3,442,383

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

A. Security Valuations—Fixed income securities (other than certain short-term investments maturing in less than 61 days) are valued each day based on prices received from independent or affiliated pricing services approved by the Board of Trustees or third party broker-dealers. The broker-dealers or pricing services use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the broker-dealers or pricing services may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the broker-dealers or pricing services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining value and/ or market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon-rates, anticipated timing of principal repayments, underlying collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair values. Equity securities listed on a North American, Central American, South American or Caribbean securities exchange shall generally be valued at the last sale price on the exchange on which the security is principally traded that is reported before the time when the net assets of the Fund are valued. Securities listed on The NASDAQ Stock Market LLC are generally valued at the NASDAQ Official Closing Price.

Generally, short-term investments of sufficient credit quality maturing in less than 61 days are valued at amortized cost, which approximates market value. Certain investments of the Fund may, depending upon market conditions, trade in relatively thin markets and/or in markets that experience significant volatility. As a result of these conditions, the prices used by the Fund to value securities may differ from the value that would be realized if these securities were sold, and the differences could be material. Futures and options are generally valued on the basis of available market quotations. Swaps and other derivatives are valued daily, primarily using independent or affiliated pricing services approved by the Board of Trustees. If valuations are not available from such services or values received are deemed not representative of market value, values will be obtained from a third party broker-dealer or counterparty. Investments in other open-end investment companies are valued at each investment company’s net asset value per share as of the report date.

Securities or other assets for which market quotations are not readily available or for which market quotations do not represent the fair value of the security or asset at the time of pricing (including certain illiquid securities) are fair valued in accordance with procedures established by and under the supervision and responsibility of the Board of Trustees. The Board of Trustees has established an Audit and Valuation Committee to assist with the oversight of the valuation of the Fund’s securities. JPMorgan Funds Management, Inc. (the “Administrator”, or “JPMFM”), an indirect, wholly-owned subsidiary of JPMorgan Chase & Co. (“JPMorgan”), has established a Valuation Committee (“VC”) that is comprised of senior representatives from JPMFM, J.P. Morgan Investment Management Inc. (“JPMIM” or the “Advisor”), a wholly-owned subsidiary of JPMorgan Asset Management Holdings Inc. (“JPMAM”), which is a wholly-owned subsidiary of JPMorgan, JPMAM’s Legal and Compliance, JPMAM’s Risk Management and the Fund’s Chief Compliance Officer. The VC’s responsibilities include making determinations regarding Level 3 fair value measurements (“Fair Values”) and/or providing recommendations for approval to the Board of Trustees’ Audit and Valuation Committee, in accordance with the Fund’s valuation policies.

The VC or Board of Trustees, as applicable, primarily employ a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information for the investment to determine the fair value of the investment. The VC or Board of Trustees may also use an income-based valuation approach in which the anticipated future cash flows of the investment are discounted to calculate 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. JPMFM and JPMIM are responsible for monitoring developments that may impact Fair Values and for discussing and assessing Fair Values on an ongoing and at least a quarterly basis with the VC and Board of Trustees, as applicable. The appropriateness of Fair Values is assessed based on results of unchanged price review and consideration of macro or security specific events, back testing and broker and vendor due diligence.

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 fair value of the Fund’s investments are summarized into the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own 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 aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

The following table represents each valuation input by sector as presented on the Schedule of Portfolio Investments (“SOI”) (amounts in thousands):

	Level 1 Quoted prices		Level 2		Level 3
			Other significant observable inputs		Significant unobservable inputs			Total
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	143,221	$	56,963		$	200,184
Collateralized Mortgage Obligations
Agency CMO		—		743,974		16,239			760,213
Non-Agency CMO		—		368,654		41,377			410,031
Total Collateralized Mortgage Obligations		—		1,112,628		57,616			1,170,244
Commercial Mortgage-Backed
Securities		—		75,865		23,995			99,860
Corporate Bonds
Consumer Discretionary		—		54,197		—			54,197
Consumer Staples		—		40,477		—			40,477
Energy		—		46,723		—			46,723
Financials		—		368,585		—			368,585
Health Care		—		20,103		—			20,103
Industrials		—		37,312		3,313			40,625
Information Technology		—		32,220		—			32,220
Materials		—		18,500		—			18,500
Telecommunication Services		—		43,860		—			43,860
Utilities		—		72,358		—			72,358
Total Corporate Bonds		—		734,335		3,313			737,648
Foreign Government Securities		—		51,656		—			51,656
Mortgage Pass-Through Securities		—		429,015		—			429,015
Municipal Bonds		—		10,065		—			10,065
Supranational		—		5,130		—			5,130
U.S. Government Agency
Securities		—		57,506		—			57,506
U.S. Treasury Obligations		—		917,910		—			917,910
Short-Term Investment
Investment Company		68,102		—		—			68,102
Total Investments in Securities	$	68,102	$	3,537,331	$	141,887	*	$	3,747,320

* Level 3 securities are valued by brokers. At November 30, 2012, the value of these securities was approximately $141,887,000. The inputs for these securities are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A. The appropriateness of fair values for these securities is based on results of back testing and unchanged price review and may also include but not limited to results of broker due diligence and consideration of macro or security specific events.

There were no transfers between Levels 1 and 2 during the period ended November 30, 2012.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

The following is a summary of investments for which significant unobservable inputs (Level 3) were used in determining fair value (amounts in thousands):

Core Bond Trust	Balance as of 02/29/12		Realized gain  (loss)		Change in unrealized appreciation (depreciation)		Net amortization (accretion)			Purchases1		Sales2			Transfers into Level 3		Transfers out of Level 3			Balance as of 11/30/12
Investments in Securities
Asset-Backed Securities	$	9,683	$	—	$	283	$	5		$	53,311	$	(14,762	)	$	10,696	$	(2,253	)	$	56,963
Collateralized Mortgage Obligations
Agency CMO		—		—		6		—			16,233		—			—		—			16,239
Non-Agency CMO		13,819		—		3,757		12			26,404		(9,657	)		9,946		(2,904	)		41,377
Commercial Mortgage-Backed Securities		—		—		198		7			17,673		(4,257	)		10,374		—			23,995
Corporate Bond - Industrials		—		—		54		(3	)		706		(156	)		2,712		—			3,313
																					—
Total	$	23,502	$	—	$	4,298	$	21		$	114,327	$	(28,832	)	$	33,728	$	(5,157	)	$	141,887

¹ Purchases include all purchases of securities and securities received in corporate actions.

² Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

Transfers into, and out of, Level 3 are valued utilizing values as of the beginning of the period.

Transfers from Level 2 to Level 3 or from Level 3 to Level 2 are due to a decline or an increase in market activity (e.g. frequency of trades), which resulted in a lack of or increase in available market inputs to determine price.

The change in unrealized appreciation (depreciation) attributable to securities owned at November 30, 2012, which were valued using significant unobservable inputs (Level 3), amounted to approximately $4,298,000.

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited)

(Amounts in thousands)

SHARES			SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — 98.2%
	Consumer Discretionary — 11.3%
			Auto Components — 0.2%
	3		BorgWarner, Inc. (a)		177
	6		Goodyear Tire & Rubber Co. (The) (a)		72
	16		Johnson Controls, Inc.		440
					689
			Automobiles — 0.4%
	89		Ford Motor Co.		1,020
	5		Harley-Davidson, Inc.		250
					1,270
			Distributors — 0.1%
	4		Genuine Parts Co.		236
			Diversified Consumer Services — 0.1%
	2		Apollo Group, Inc., Class A (a)		45
	6		H&R Block, Inc.		114
					159
			Hotels, Restaurants & Leisure — 1.8%
	10		Carnival Corp.		404
	1		Chipotle Mexican Grill, Inc. (a)		195
	3		Darden Restaurants, Inc.		158
	6		International Game Technology		87
	6		Marriott International, Inc., Class A		213
	24		McDonald’s Corp.		2,051
	18		Starbucks Corp.		921
	5		Starwood Hotels & Resorts Worldwide, Inc.		248
	3		Wyndham Worldwide Corp.		163
	2		Wynn Resorts Ltd.		209
	11		Yum! Brands, Inc.		714
					5,363
			Household Durables — 0.3%
	6		D.R. Horton, Inc.		126
	2		Harman International Industries, Inc.		62
	3		Leggett & Platt, Inc.		91
	4		Lennar Corp., Class A		145
	7		Newell Rubbermaid, Inc.		147
	8		PulteGroup, Inc. (a)		133
	2		Whirlpool Corp.		185
					889
			Internet & Catalog Retail — 1.1%
	8		Amazon.com, Inc. (a)		2,130
	2		Expedia, Inc.		135
	1		Netflix, Inc. (a)		106
	1		priceline.com, Inc. (a)		772
	3		TripAdvisor, Inc. (a)		98
					3,241
			Leisure Equipment & Products — 0.1%
	3		Hasbro, Inc.		104
	8		Mattel, Inc.		299
					403
			Media — 3.5%
	5		Cablevision Systems Corp., Class A		70
	14		CBS Corp. (Non-Voting), Class B		500
	63		Comcast Corp., Class A		2,324
	15		DIRECTV (a)		729
	6		Discovery Communications, Inc., Class A (a)		349
	5		Gannett Co., Inc.		97
	10		Interpublic Group of Cos., Inc. (The)		110
	7		McGraw-Hill Cos., Inc. (The)		348
	48		News Corp., Class A		1,172
	6		Omnicom Group, Inc.		309
	2		Scripps Networks Interactive, Inc., Class A		119
	7		Time Warner Cable, Inc.		679
	22		Time Warner, Inc.		1,049
	11		Viacom, Inc., Class B		571
	42		Walt Disney Co. (The)		2,082
	–	(h)	Washington Post Co. (The), Class B		39
					10,547
			Multiline Retail — 0.8%
	1		Big Lots, Inc. (a)		39
	6		Dollar General Corp. (a)		311
	5		Dollar Tree, Inc. (a)		224
	2		Family Dollar Stores, Inc.		161
	3		J.C. Penney Co., Inc.		60
	5		Kohl’s Corp.		225
	9		Macy’s, Inc.		364
	4		Nordstrom, Inc.		193
	15		Target Corp.		966
					2,543
			Specialty Retail — 2.3%
	2		Abercrombie & Fitch Co., Class A		88
	1		AutoNation, Inc. (a)		35
	1		AutoZone, Inc. (a)		336
	5		Bed Bath & Beyond, Inc. (a)		318
	6		Best Buy Co., Inc.		81
	5		CarMax, Inc. (a)		193
	3		GameStop Corp., Class A		76

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Specialty Retail — Continued
	7	Gap, Inc. (The)		240
	35	Home Depot, Inc. (The)		2,292
	6	Limited Brands, Inc.		291
	27	Lowe’s Cos., Inc.		962
	3	O’Reilly Automotive, Inc. (a)		261
	3	PetSmart, Inc.		179
	5	Ross Stores, Inc.		298
	16	Staples, Inc.		187
	3	Tiffany & Co.		164
	17	TJX Cos., Inc.		763
	3	Urban Outfitters, Inc. (a)		96
				6,860
		Textiles, Apparel & Luxury Goods — 0.6%
	7	Coach, Inc.		385
	1	Fossil, Inc. (a)		111
	9	NIKE, Inc., Class B		837
	1	Ralph Lauren Corp.		224
	2	V.F. Corp.		330
				1,887
		Total Consumer Discretionary		34,087
	Consumer Staples — 10.8%
		Beverages — 2.4%
	4	Beam, Inc.		207
	4	Brown-Forman Corp., Class B		248
	90	Coca-Cola Co. (The)		3,430
	6	Coca-Cola Enterprises, Inc.		202
	3	Constellation Brands, Inc., Class A (a)		123
	5	Dr. Pepper Snapple Group, Inc.		221
	4	Molson Coors Brewing Co., Class B		151
	4	Monster Beverage Corp. (a)		187
	36	PepsiCo, Inc.		2,553
				7,322
		Food & Staples Retailing — 2.4%
	10	Costco Wholesale Corp.		1,050
	30	CVS Caremark Corp.		1,382
	13	Kroger Co. (The)		334
	6	Safeway, Inc.		96
	14	Sysco Corp.		434
	20	Walgreen Co.		679
	39	Wal-Mart Stores, Inc.		2,828
	4	Whole Foods Market, Inc.		375
				7,178
		Food Products — 1.7%
	15	Archer-Daniels-Midland Co.		411
	4	Campbell Soup Co.		155
	9	ConAgra Foods, Inc.		283
	4	Dean Foods Co. (a)		74
	15	General Mills, Inc.		621
	7	H.J. Heinz Co.		437
	4	Hershey Co. (The)		260
	3	Hormel Foods Corp.		97
	3	JM Smucker Co. (The)		226
	6	Kellogg Co.		320
	14	Kraft Foods Group, Inc. (a)		625
	3	McCormick & Co., Inc. (Non-Voting)		200
	5	Mead Johnson Nutrition Co.		325
	41	Mondelez International, Inc., Class A		1,073
	7	Tyson Foods, Inc., Class A		130
				5,237
		Household Products — 2.2%
	3	Clorox Co. (The)		231
	10	Colgate-Palmolive Co.		1,130
	9	Kimberly-Clark Corp.		791
	64	Procter & Gamble Co. (The)		4,493
				6,645
		Personal Products — 0.2%
	10	Avon Products, Inc.		141
	6	Estee Lauder Cos., Inc. (The), Class A		327
				468
		Tobacco — 1.9%
	47	Altria Group, Inc.		1,605
	3	Lorillard, Inc.		370
	39	Philip Morris International, Inc.		3,540
	8	Reynolds American, Inc.		335
				5,850
		Total Consumer Staples		32,700
	Energy — 10.8%
		Energy Equipment & Services — 1.8%
	10	Baker Hughes, Inc.		443
	6	Cameron International Corp. (a)		310
	2	Diamond Offshore Drilling, Inc.		112
	5	Ensco plc, (United Kingdom), Class A		316
	6	FMC Technologies, Inc. (a)		228
	22	Halliburton Co.		723
	2	Helmerich & Payne, Inc.		129
	7	Nabors Industries Ltd., (Bermuda) (a)		100
	10	National Oilwell Varco, Inc.		680
	6	Noble Corp., (Switzerland)		204

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Energy Equipment & Services — Continued
	3	Rowan Cos. plc, Class A (a)		92
	31	Schlumberger Ltd.		2,220
				5,557
		Oil, Gas & Consumable Fuels — 9.0%
	12	Anadarko Petroleum Corp.		854
	9	Apache Corp.		705
	5	Cabot Oil & Gas Corp.		231
	12	Chesapeake Energy Corp.		206
	46	Chevron Corp.		4,845
	28	ConocoPhillips		1,616
	5	CONSOL Energy, Inc.		167
	9	Denbury Resources, Inc. (a)		141
	9	Devon Energy Corp.		454
	6	EOG Resources, Inc.		742
	3	EQT Corp.		210
	108	Exxon Mobil Corp.		9,505
	7	Hess Corp.		344
	15	Kinder Morgan, Inc.		500
	16	Marathon Oil Corp.		508
	8	Marathon Petroleum Corp.		471
	4	Murphy Oil Corp.		245
	3	Newfield Exploration Co. (a)		77
	4	Noble Energy, Inc.		406
	19	Occidental Petroleum Corp.		1,423
	6	Peabody Energy Corp.		157
	15	Phillips 66		767
	3	Pioneer Natural Resources Co.		308
	4	QEP Resources, Inc.		117
	4	Range Resources Corp.		243
	8	Southwestern Energy Co. (a)		282
	15	Spectra Energy Corp.		426
	3	Tesoro Corp.		138
	13	Valero Energy Corp.		416
	15	Williams Cos., Inc. (The)		481
	5	WPX Energy, Inc. (a)		73
				27,058
		Total Energy		32,615
	Financials — 14.7%
		Capital Markets — 1.9%
	5	Ameriprise Financial, Inc.		299
	28	Bank of New York Mellon Corp. (The)		661
	3	BlackRock, Inc.		589
	26	Charles Schwab Corp. (The)		335
	6	E*TRADE Financial Corp. (a)		51
	2	Federated Investors, Inc., Class B		43
	3	Franklin Resources, Inc.		426
	11	Goldman Sachs Group, Inc. (The)		1,240
	10	Invesco Ltd.		260
	3	Legg Mason, Inc.		72
	32	Morgan Stanley		545
	5	Northern Trust Corp.		246
	11	State Street Corp.		497
	6	T. Rowe Price Group, Inc.		383
				5,647
		Commercial Banks — 2.7%
	16	BB&T Corp.		460
	5	Comerica, Inc.		134
	21	Fifth Third Bancorp		314
	6	First Horizon National Corp.		55
	20	Huntington Bancshares, Inc.		123
	22	KeyCorp		178
	3	M&T Bank Corp.		275
	12	PNC Financial Services Group, Inc.		694
	33	Regions Financial Corp.		220
	13	SunTrust Banks, Inc.		342
	44	U.S. Bancorp		1,429
	115	Wells Fargo & Co.		3,789
	4	Zions Bancorp		86
				8,099
		Consumer Finance — 0.9%
	23	American Express Co.		1,288
	14	Capital One Financial Corp.		782
	12	Discover Financial Services		501
	11	SLM Corp.		181
				2,752
		Diversified Financial Services — 3.2%
	252	Bank of America Corp.		2,483
	69	Citigroup, Inc.		2,368
	7	CME Group, Inc.		395
	2	IntercontinentalExchange, Inc. (a)		225
	89	JPMorgan Chase & Co. (q)		3,646
	5	Leucadia National Corp.		103
	5	Moody’s Corp.		219
	3	NASDAQ OMX Group, Inc. (The)		67
	6	NYSE Euronext		134
				9,640
		Insurance — 3.8%
	8	ACE Ltd., (Switzerland)		628

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Insurance — Continued
	11	Aflac, Inc.		580
	11	Allstate Corp. (The)		458
	27	American International Group, Inc. (a)		903
	8	Aon plc, (United Kingdom)		428
	2	Assurant, Inc.		65
	43	Berkshire Hathaway, Inc., Class B (a)		3,774
	6	Chubb Corp. (The)		478
	3	Cincinnati Financial Corp.		138
	11	Genworth Financial, Inc., Class A (a)		68
	10	Hartford Financial Services Group, Inc.		216
	7	Lincoln National Corp.		161
	7	Loews Corp.		298
	13	Marsh & McLennan Cos., Inc.		448
	25	MetLife, Inc.		824
	6	Principal Financial Group, Inc.		176
	13	Progressive Corp. (The)		278
	11	Prudential Financial, Inc.		567
	2	Torchmark Corp.		116
	9	Travelers Cos., Inc. (The)		638
	7	Unum Group		133
	7	XL Group plc, (Ireland)		174
				11,549
		Real Estate Investment Trusts (REITs) — 2.1%
	9	American Tower Corp.		692
	3	Apartment Investment & Management Co., Class A		85
	3	AvalonBay Communities, Inc.		343
	4	Boston Properties, Inc.		362
	7	Equity Residential		415
	11	HCP, Inc.		475
	6	Health Care REIT, Inc.		350
	17	Host Hotels & Resorts, Inc.		248
	10	Kimco Realty Corp.		183
	4	Plum Creek Timber Co., Inc.		162
	11	Prologis, Inc.		365
	3	Public Storage		474
	7	Simon Property Group, Inc.		1,078
	7	Ventas, Inc.		439
	4	Vornado Realty Trust		302
	13	Weyerhaeuser Co.		346
				6,319
		Real Estate Management & Development — 0.0% (g)
	7	CBRE Group, Inc., Class A (a)		134
		Thrifts & Mortgage Finance — 0.1%
	11	Hudson City Bancorp, Inc.		90
	8	People’s United Financial, Inc.		100
				190
		Total Financials		44,330
	Health Care — 11.9%
		Biotechnology — 1.6%
	5	Alexion Pharmaceuticals, Inc. (a)		433
	18	Amgen, Inc.		1,599
	6	Biogen Idec, Inc. (a)		823
	10	Celgene Corp. (a)		792
	18	Gilead Sciences, Inc. (a)		1,326
				4,973
		Health Care Equipment & Supplies — 1.8%
	13	Baxter International, Inc.		847
	5	Becton, Dickinson & Co.		357
	33	Boston Scientific Corp. (a)		184
	2	C.R. Bard, Inc.		180
	5	CareFusion Corp. (a)		145
	11	Covidien plc, (Ireland)		652
	3	DENTSPLY International, Inc.		131
	3	Edwards Lifesciences Corp. (a)		235
	1	Intuitive Surgical, Inc. (a)		494
	24	Medtronic, Inc.		1,004
	7	St. Jude Medical, Inc.		251
	7	Stryker Corp.		366
	3	Varian Medical Systems, Inc. (a)		179
	4	Zimmer Holdings, Inc.		269
				5,294
		Health Care Providers & Services — 1.9%
	8	Aetna, Inc.		337
	6	AmerisourceBergen Corp.		248
	8	Cardinal Health, Inc.		322
	7	Cigna Corp.		352
	3	Coventry Health Care, Inc.		137
	2	DaVita HealthCare Partners, Inc. (a)		215
	19	Express Scripts Holding Co. (a)		1,020
	4	Humana, Inc.		247
	2	Laboratory Corp. of America Holdings (a)		189
	6	McKesson Corp.		521
	2	Patterson Cos., Inc.		68
	4	Quest Diagnostics, Inc.		214
	2	Tenet Healthcare Corp. (a)		71
	24	UnitedHealth Group, Inc.		1,312

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Health Care Providers & Services — Continued
	7	WellPoint, Inc.		397
				5,650
		Health Care Technology — 0.1%
	3	Cerner Corp. (a)		263
		Life Sciences Tools & Services — 0.4%
	8	Agilent Technologies, Inc.		312
	4	Life Technologies Corp. (a)		202
	3	PerkinElmer, Inc.		84
	9	Thermo Fisher Scientific, Inc.		543
	2	Waters Corp. (a)		173
				1,314
		Pharmaceuticals — 6.1%
	37	Abbott Laboratories		2,383
	7	Allergan, Inc.		666
	39	Bristol-Myers Squibb Co.		1,280
	24	Eli Lilly & Co.		1,170
	5	Forest Laboratories, Inc. (a)		194
	4	Hospira, Inc. (a)		115
	64	Johnson & Johnson		4,492
	71	Merck & Co., Inc.		3,152
	9	Mylan, Inc. (a)		258
	2	Perrigo Co.		213
	175	Pfizer, Inc.		4,366
	3	Watson Pharmaceuticals, Inc. (a)		262
				18,551
		Total Health Care		36,045
	Industrials — 9.9%
		Aerospace & Defense — 2.3%
	16	Boeing Co. (The)		1,174
	8	General Dynamics Corp.		515
	18	Honeywell International, Inc.		1,119
	2	L-3 Communications Holdings, Inc.		173
	6	Lockheed Martin Corp.		587
	6	Northrop Grumman Corp.		385
	3	Precision Castparts Corp.		623
	8	Raytheon Co.		443
	3	Rockwell Collins, Inc.		190
	7	Textron, Inc.		154
	20	United Technologies Corp.		1,570
				6,933
		Air Freight & Logistics — 0.7%
	4	C.H. Robinson Worldwide, Inc.		233
	5	Expeditors International of Washington, Inc.		184
	7	FedEx Corp.		611
	17	United Parcel Service, Inc., Class B		1,228
				2,256
		Airlines — 0.1%
	17	Southwest Airlines Co.		165
		Building Products — 0.0% (g)
	8	Masco Corp.		142
		Commercial Services & Supplies — 0.6%
	5	ADT Corp. (The) (a)		247
	2	Avery Dennison Corp.		79
	3	Cintas Corp.		104
	4	Iron Mountain, Inc.		133
	5	Pitney Bowes, Inc.		52
	4	R.R. Donnelley & Sons Co.		40
	7	Republic Services, Inc.		199
	2	Stericycle, Inc. (a)		187
	11	Tyco International Ltd., (Switzerland)		305
	10	Waste Management, Inc.		331
				1,677
		Construction & Engineering — 0.2%
	4	Fluor Corp.		207
	3	Jacobs Engineering Group, Inc. (a)		124
	5	Quanta Services, Inc. (a)		129
				460
		Electrical Equipment — 0.7%
	4	Cooper Industries plc		278
	8	Eaton Corp.		411
	17	Emerson Electric Co.		854
	3	Rockwell Automation, Inc.		261
	2	Roper Industries, Inc.		255
				2,059
		Industrial Conglomerates — 2.4%
	15	3M Co.		1,351
	14	Danaher Corp.		737
	247	General Electric Co.		5,213
				7,301
		Machinery — 1.8%
	15	Caterpillar, Inc.		1,301
	4	Cummins, Inc.		406
	9	Deere & Co.		769
	4	Dover Corp.		272

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Machinery — Continued
	1	Flowserve Corp.		166
	10	Illinois Tool Works, Inc.		620
	7	Ingersoll-Rand plc, (Ireland)		327
	2	Joy Global, Inc.		141
	8	PACCAR, Inc.		363
	3	Pall Corp.		161
	3	Parker Hannifin Corp.		287
	5	Pentair Ltd., (Switzerland)		238
	1	Snap-on, Inc.		108
	4	Stanley Black & Decker, Inc.		282
	4	Xylem, Inc.		113
				5,554
		Professional Services — 0.1%
	1	Dun & Bradstreet Corp. (The)		83
	3	Equifax, Inc.		143
	3	Robert Half International, Inc.		94
				320
		Road & Rail — 0.8%
	24	CSX Corp.		480
	7	Norfolk Southern Corp.		451
	1	Ryder System, Inc.		56
	11	Union Pacific Corp.		1,359
				2,346
		Trading Companies & Distributors — 0.2%
	6	Fastenal Co.		263
	1	W.W. Grainger, Inc.		272
				535
		Total Industrials		29,748
	Information Technology — 18.8%
		Communications Equipment — 1.9%
	124	Cisco Systems, Inc.		2,337
	2	F5 Networks, Inc. (a)		173
	3	Harris Corp.		125
	5	JDS Uniphase Corp. (a)		66
	12	Juniper Networks, Inc. (a)		221
	7	Motorola Solutions, Inc.		364
	40	QUALCOMM, Inc.		2,532
				5,818
		Computers & Peripherals — 5.2%
	22	Apple, Inc.		12,818
	34	Dell, Inc.		328
	49	EMC Corp. (a)		1,217
	46	Hewlett-Packard Co.		597
	8	NetApp, Inc. (a)		269
	6	SanDisk Corp. (a)		221
	8	Seagate Technology plc, (Ireland)		207
	5	Western Digital Corp.		174
				15,831
		Electronic Equipment, Instruments & Components — 0.4%
	4	Amphenol Corp., Class A		233
	35	Corning, Inc.		425
	4	FLIR Systems, Inc.		72
	4	Jabil Circuit, Inc.		83
	3	Molex, Inc.		85
	10	TE Connectivity Ltd., (Switzerland)		352
				1,250
		Internet Software & Services — 2.1%
	4	Akamai Technologies, Inc. (a)		152
	27	eBay, Inc. (a)		1,431
	6	Google, Inc., Class A (a)		4,322
	4	VeriSign, Inc. (a)		125
	24	Yahoo!, Inc. (a)		457
				6,487
		IT Services — 3.8%
	15	Accenture plc, (Ireland), Class A		1,007
	11	Automatic Data Processing, Inc.		643
	7	Cognizant Technology Solutions Corp., Class A (a)		469
	4	Computer Sciences Corp.		138
	6	Fidelity National Information Services, Inc.		211
	3	Fiserv, Inc. (a)		244
	25	International Business Machines Corp.		4,770
	3	MasterCard, Inc., Class A		1,225
	8	Paychex, Inc.		246
	7	SAIC, Inc.		76
	4	Teradata Corp. (a)		234
	4	Total System Services, Inc.		83
	12	Visa, Inc., Class A		1,828
	14	Western Union Co. (The)		178
				11,352
		Office Electronics — 0.1%
	31	Xerox Corp.		208
		Semiconductors & Semiconductor Equipment — 1.9%
	14	Advanced Micro Devices, Inc. (a)		31
	7	Altera Corp.		242

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Semiconductors & Semiconductor Equipment — Continued
	7	Analog Devices, Inc.		283
	29	Applied Materials, Inc.		310
	12	Broadcom Corp., Class A (a)		389
	1	First Solar, Inc. (a)		38
	117	Intel Corp.		2,287
	4	KLA-Tencor Corp.		177
	4	Lam Research Corp. (a)		141
	5	Linear Technology Corp.		179
	13	LSI Corp. (a)		88
	5	Microchip Technology, Inc.		138
	24	Micron Technology, Inc. (a)		142
	14	NVIDIA Corp.		173
	4	Teradyne, Inc. (a)		69
	27	Texas Instruments, Inc.		783
	6	Xilinx, Inc.		212
				5,682
		Software — 3.4%
	11	Adobe Systems, Inc. (a)		398
	5	Autodesk, Inc. (a)		176
	3	BMC Software, Inc. (a)		140
	8	CA, Inc.		177
	4	Citrix Systems, Inc. (a)		267
	7	Electronic Arts, Inc. (a)		110
	6	Intuit, Inc.		386
	176	Microsoft Corp.		4,693
	89	Oracle Corp.		2,856
	5	Red Hat, Inc. (a)		223
	3	Salesforce.com, Inc. (a)		471
	16	Symantec Corp. (a)		308
				10,205
		Total Information Technology		56,833
	Materials — 3.5%
		Chemicals — 2.4%
	5	Air Products & Chemicals, Inc.		410
	2	Airgas, Inc.		143
	1	CF Industries Holdings, Inc.		314
	28	Dow Chemical Co. (The)		845
	22	E.I. du Pont de Nemours & Co.		938
	4	Eastman Chemical Co.		217
	6	Ecolab, Inc.		443
	3	FMC Corp.		178
	2	International Flavors & Fragrances, Inc.		124
	8	LyondellBasell Industries N.V., (Netherlands), Class A		394
	12	Monsanto Co.		1,140
	6	Mosaic Co. (The)		349
	4	PPG Industries, Inc.		443
	7	Praxair, Inc.		747
	2	Sherwin-Williams Co. (The)		304
	3	Sigma-Aldrich Corp.		205
				7,194
		Construction Materials — 0.1%
	3	Vulcan Materials Co.		160
		Containers & Packaging — 0.1%
	4	Ball Corp.		161
	2	Bemis Co., Inc.		81
	4	Owens-Illinois, Inc. (a)		77
	4	Sealed Air Corp.		69
				388
		Metals & Mining — 0.7%
	25	Alcoa, Inc.		210
	3	Allegheny Technologies, Inc.		66
	3	Cliffs Natural Resources, Inc.		96
	22	Freeport-McMoRan Copper & Gold, Inc.		865
	12	Newmont Mining Corp.		546
	7	Nucor Corp.		305
	2	Titanium Metals Corp.		28
	3	United States Steel Corp.		73
				2,189
		Paper & Forest Products — 0.2%
	10	International Paper Co.		380
	4	MeadWestvaco Corp.		125
				505
		Total Materials		10,436
	Telecommunication Services — 3.1%
		Diversified Telecommunication Services — 2.8%
	135	AT&T, Inc.		4,600
	15	CenturyLink, Inc.		565
	23	Frontier Communications Corp.		112
	67	Verizon Communications, Inc.		2,937
	14	Windstream Corp.		115
				8,329
		Wireless Telecommunication Services — 0.3%
	7	Crown Castle International Corp. (a)		462
	7	MetroPCS Communications, Inc. (a)		79

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Wireless Telecommunication Services — Continued
	70	Sprint Nextel Corp. (a)		402
				943
		Total Telecommunication Services		9,272
	Utilities — 3.4%
		Electric Utilities — 2.0%
	11	American Electric Power Co., Inc.		483
	16	Duke Energy Corp.		1,050
	8	Edison International		352
	4	Entergy Corp.		263
	20	Exelon Corp.		603
	10	FirstEnergy Corp.		415
	10	NextEra Energy, Inc.		679
	7	Northeast Utilities		284
	5	Pepco Holdings, Inc.		105
	3	Pinnacle West Capital Corp.		132
	14	PPL Corp.		398
	20	Southern Co. (The)		890
	11	Xcel Energy, Inc.		308
				5,962
		Gas Utilities — 0.1%
	3	AGL Resources, Inc.		107
	5	ONEOK, Inc.		215
				322
		Independent Power Producers & Energy Traders — 0.1%
	15	AES Corp. (The)		155
	5	NRG Energy, Inc.		112
				267
		Multi-Utilities — 1.2%
	6	Ameren Corp.		170
	10	CenterPoint Energy, Inc.		197
	6	CMS Energy Corp.		151
	7	Consolidated Edison, Inc.		382
	13	Dominion Resources, Inc.		685
	4	DTE Energy Co.		243
	2	Integrys Energy Group, Inc.		97
	7	NiSource, Inc.		175
	10	PG&E Corp.		408
	12	Public Service Enterprise Group, Inc.		356
	3	SCANA Corp.		142
	5	Sempra Energy		359
	5	TECO Energy, Inc.		80
	5	Wisconsin Energy Corp.		202
				3,647
		Total Utilities		10,198
		Total Common Stocks (Cost $201,077)		296,264
	Investment Company — 0.1%
	2	SPDR S&P 500 ETF Trust (Cost $229)		284
PRINCIPAL AMOUNT ($)
	U.S. Treasury Obligations — 0.1%
		U.S. Treasury Bills,
	185	0.070%, 12/13/12 (k) (n)		185
	50	0.079%, 02/14/13 (k) (n)		50
		Total U.S. Treasury Obligations (Cost $235)		235
SHARES
	Short-Term Investment — 1.5%
		Investment Company — 1.5%
	4,399	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.110% (b) (l) (m) (Cost $4,399)		4,399
		Total Investments — 99.9% (Cost $205,940)		301,182
		Other Assets in Excess of Liabilities — 0.1%		407
		NET ASSETS — 100.0%	$	301,589

Percentages indicated are based on net assets.

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands, except number of contracts)

FuturesContracts
NUMBER OF CONTRACTS		DESCRIPTION	EXPIRATION DATE		NOTIONAL VALUE AT 11/30/12		UNREALIZED APPRECIATION (DEPRECIATION)
		Long Futures Outstanding
	63	E-mini S&P 500		12/21/12	$	4,455	$	12

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

ETF	—	Exchange Traded Fund
SPDR	—	Standard & Poor’s Depositary Receipts
(a)	—	Non-income producing security.
(b)	—	Investment in affiliate. Money market fund registered under the Investment Company Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc.
(g)	—	Amount rounds to less than 0.1%.
(h)	—	Amount rounds to less than one thousand (shares or dollars).
(k)	—	All or a portion of this security is deposited with the broker as collateral for futures or with brokers as initial margin for futures contracts.
(l)	—	The rate shown is the current yield as of November 30, 2012.
(m)	—	All or a portion of this security is reserved and/or pledged with the custodian for current or potential holdings of futures, swaps, options, TBAs, when-issued securities, delayed delivery securities, reverse repurchase agreements, unfunded commitments and/or forward foreign currency exchange contracts.
(n)	—	The rate shown is the effective yield at the date of purchase.
(q)	—	Investment in affiliate. This security is included in an index in which the Portfolio, as an index fund, invests.

As of November 30, 2012, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	103,254
Aggregate gross unrealized depreciation		(8,012	)
Net unrealized appreciation/depreciation	$	95,242
Federal income tax cost of investments	$	205,940

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

The various inputs that are used in determining the fair value of the Fund’s investments are summarized into the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own 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 securities are not necessarily an indication of the risk associated with investing in those securities.

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)	$	300,947	$	235	$	–	$	301,182
Appreciation in Other Financial Instruments
Futures Contracts	$	12	$	–	$	–	$	12

(a) Portfolio holdings designated as Level 1 and Level 2 are disclosed individually in the SOI. Level 2 consists of U.S. Treasury Bills held as collateral for futures contracts. Please refer to the SOI for industry specifics of portfolio holdings.

There were no transfers between Levels 1 and 2 during the period ended November 30, 2012.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — 4.2%
	168	Academic Loan Funding Trust, Series 2012-1A, Class A1, VAR, 1.007%, 12/27/22 (e)		169
		AH Mortgage,
	250	Series SART-1, Class A1R, 2.230%, 05/10/43 (e)		251
	750	Series SART-1, Class A2, 3.370%, 05/10/43 (e)		750
		AH Mortgage Advance Trust, (Cayman Islands),
	267	Series SART-2, Class A1, 3.270%, 09/15/43 (e)		270
	100	Series SART-2, Class B1, 6.900%, 09/15/43 (e)		100
		Ally Auto Receivables Trust,
	6	Series 2010-1, Class A3, 1.450%, 05/15/14		6
	78	Series 2010-4, Class A3, 0.910%, 11/17/14		78
	124	Series 2012-1, Class A3, 0.930%, 02/16/16		125
	377	Series 2012-2, Class A3, 0.740%, 04/15/16		379
	216	Series 2012-4, Class A2, 0.480%, 05/15/15		216
	198	Series 2012-5, Class A2, 0.450%, 07/15/15		198
		American Credit Acceptance Receivables Trust,
	110	Series 2012-1, Class A2, 3.040%, 10/15/15 (e)		110
	269	Series 2012-2, Class A, 1.890%, 07/15/16 (e)		270
	85	Series 2012-3, Class A, 1.640%, 11/15/16 (e)		85
		AmeriCredit Automobile Receivables Trust,
	74	Series 2010-3, Class A3, 1.140%, 04/08/15		74
	61	Series 2010-4, Class A3, 1.270%, 04/08/15		61
	41	Series 2011-3, Class A2, 0.840%, 11/10/14		41
	219	Series 2011-5, Class A3, 1.550%, 07/08/16		222
	160	Series 2012-1, Class A2, 0.910%, 10/08/15		161
	94	Series 2012-1, Class A3, 1.230%, 09/08/16		95
	70	Series 2012-4, Class A2, 0.490%, 04/08/16		70
		Bank of America Auto Trust,
	29	Series 2009-1A, Class A4, 3.520%, 06/15/16 (e)		29
	81	Series 2010-1A, Class A4, 2.180%, 02/15/17 (e)		82
	9	Series 2010-2, Class A3, 1.310%, 07/15/14		9
	125	Series 2010-2, Class A4, 1.940%, 06/15/17		126
	60	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.578%, 04/25/36		52
	100	Cabela’s Master Credit Card Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		103
	158	California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		158
	7	CarMax Auto Owner Trust, Series 2010-1, Class A3, 1.560%, 07/15/14		7
	78	CarNow Auto Receivables Trust, Series 2012-1A, Class A, 2.090%, 01/15/15 (e)		78
	176	Centex Home Equity, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		179
		CNH Equipment Trust,
	95	Series 2010-C, Class A3, 1.170%, 05/15/15		96
	101	Series 2012-A, Class A2, 0.650%, 07/15/15		101
	99	Series 2012-A, Class A3, 0.940%, 05/15/17		100
	158	Series 2012-C, Class A2, 0.440%, 02/16/16		158
		CPS Auto Receivables Trust,
	71	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		74
	65	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		65
	371	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		373
	44	Credit-Based Asset Servicing and Securitization LLC, Series 2006-CB1, Class AF2, SUB, 4.223%, 01/25/36		27
	204	Discover Card Master Trust, Series 2012-A1, Class A1, 0.810%, 08/15/17		206
	127	DT Auto Owner Trust, Series 2012-2A, Class A, 0.910%, 11/16/15 (e)		127
	100	First Investors Auto Owner Trust, Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		100

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
		Ford Credit Auto Owner Trust,
	115	Series 2009-B, Class A4, 4.500%, 07/15/14		117
	176	Series 2012-A, Class A3, 0.840%, 08/15/16		177
	100	Series 2012-D, Class A2, 0.400%, 09/15/15		100
	100	Series 2012-D, Class A3, 0.510%, 04/15/17		100
	190	Fortress Opportunities Residential Transaction, Series 2011-1A, Class A1, VAR, 7.211%, 10/25/47 (e)		196
		GE Equipment Midticket LLC,
	200	Series 2012-1, Class A3, 0.600%, 05/23/16		200
	60	Series 2012-1, Class A4, 0.780%, 09/22/20		60
	60	GE Equipment Transportation LLC, Series 2012-2, Class A2, 0.470%, 04/24/15		60
	88	GE Mortgage Services LLC, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		82
	64	Harley-Davidson Motorcycle Trust, Series 2010-1, Class A3, 1.160%, 02/15/15		64
		HLSS Servicer Advance Receivables Backed Notes,
	232	Series 2012-T2, Class A1, 1.340%, 10/15/43 (e)		233
	244	Series 2012-T2, Class A2, 1.990%, 10/15/45 (e)		246
		Honda Auto Receivables Owner Trust,
	71	Series 2009-3, Class A4, 3.300%, 09/15/15		71
	108	Series 2012-1, Class A3, 0.770%, 01/15/16		108
	56	Series 2012-1, Class A4, 0.970%, 04/16/18		57
	73	HSBC Home Equity Loan Trust, Series 2005-2, Class A1, VAR, 0.478%, 01/20/35		71
		HSBC Home Equity Loan Trust USA,
	54	Series 2006-1, Class A1, VAR, 0.367%, 01/20/36		54
	61	Series 2007-3, Class APT, VAR, 1.407%, 11/20/36		59
		Huntington Auto Trust,
	78	Series 2011-1A, Class A2, 0.760%, 04/15/14 (e)		78
	150	Series 2011-1A, Class A3, 1.010%, 01/15/16 (e)		151
	100	Series 2011-1A, Class A4, 1.310%, 11/15/16 (e)		101
	116	Series 2012-1, Class A3, 0.810%, 09/15/16		116
	172	Series 2012-2, Class A2, 0.380%, 09/15/15		172
		Hyundai Auto Receivables Trust,
	65	Series 2010-B, Class A3, 0.970%, 04/15/15		65
	104	Series 2012-A, Class A3, 0.720%, 03/15/16		105
	232	Series 2012-B, Class A2, 0.540%, 01/15/15		232
	119	Series 2012-B, Class A3, 0.620%, 09/15/16		119
	91	John Deere Owner Trust, Series 2012-B, Class A2, 0.430%, 02/17/15		91
	52	LAI Vehicle Lease Securitization Trust, Series 2010-A, Class A, 2.550%, 09/15/16 (e) (i)		52
	200	Macquarie Equipment Funding Trust, Series 2012-A, Class A2, 0.610%, 04/20/15 (e)		200
		Mercedes-Benz Auto Receivables Trust,
	27	Series 2010-1, Class A3, 1.420%, 08/15/14		27
	83	Series 2012-1, Class A2, 0.370%, 03/16/15		83
	325	MMCA Automobile Trust, Series 2012-A, Class A4, 1.570%, 08/15/17 (e)		329
	94	Nissan Auto Lease Trust, Series 2012-B, Class A2A, 0.450%, 06/15/15		94
		Nissan Auto Receivables Owner Trust,
	52	Series 2010-A, Class A3, 0.870%, 07/15/14		52
	75	Series 2010-A, Class A4, 1.310%, 09/15/16		76
	91	Series 2012-A, Class A3, 0.730%, 05/16/16		91
	117	Series 2012-A, Class A4, 1.000%, 07/16/18		118
	233	Park Place Securities, Inc., Series 2004-MCW1, Class M1, VAR, 0.833%, 10/25/34		228
	150	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.507%, 03/25/36		132
	171	Residential Credit Solutions Trust, Series 2011-1, Class A1, 6.000%, 03/25/41 (e) (i)		172

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
			Resort Finance Timeshare Receivables Trust,
	489		Series 2012-1, Class A1, SUB, 6.250%, 07/05/18 (i)		489
	882		Series 2012-2, 5.750%, 09/05/18 (i)		882
			Santander Drive Auto Receivables Trust,
	24		Series 2010-3, Class A3, 1.200%, 06/16/14		25
	100		Series 2010-A, Class A4, 2.390%, 06/15/17 (e)		102
	22		Series 2011-S2A, Class B, 2.060%, 06/15/17 (e)		22
	112		Series 2012-1, Class A2, 1.250%, 04/15/15		113
	60		Series 2012-2, Class A2, 0.910%, 05/15/15		60
	53		Series 2012-2, Class A3, 1.220%, 12/15/15		54
	63		Series 2012-5, Class A2, 0.570%, 12/15/15		63
	60		Series 2012-5, Class A3, 0.830%, 12/15/16		60
	56		Series 2012-6, Class A3, 0.620%, 07/15/16		56
	56		SNAAC Auto Receivables Trust, Series 2012-1A, Class A, 1.780%, 06/15/16 (e)		56
			Stanwich Mortgage Loan Trust,
	234		Series 2012-NPL4, Class A, 2.981%, 09/15/42 (e) (i)		234
	362		Series 2012-NPL5, Class A, 2.981%, 10/18/42 (e) (i)		363
	77		Toyota Auto Receivables Owner Trust, Series 2010-C, Class A3, 0.770%, 04/15/14		77
	321		Trafigura Securitisation Finance plc, (Ireland), Series 2012-1A, Class A, VAR, 2.608%, 10/15/15 (e)		326
	41		USAA Auto Owner Trust, Series 2012-1, Class A2, 0.380%, 06/15/15		41
	213		Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Class A3, 0.850%, 08/22/16		214
			VOLT LLC,
	361		Series 2012-1A, Class A1, SUB, 4.949%, 04/25/17 (e) (i)		361
	193		Series 2012-RP2A, Class A1, 4.704%, 06/26/17 (e) (i)		197
	144		Series 2012-RP3A, Class A1, VAR, 3.475%, 11/27/17		144
	263		Westgate Resorts LLC, Series 2012-1, Class A, 4.500%, 09/20/25 (e)		267
			World Omni Auto Receivables Trust,
	117		Series 2010-A, Class A4, 2.210%, 05/15/15		118
	176		Series 2012-A, Class A2, 0.520%, 06/15/15		176
	102		Series 2012-A, Class A3, 0.640%, 02/15/17		103
	123		Series 2012-B, Class A2, 0.430%, 11/16/15		123
			Total Asset-Backed Securities (Cost $15,559)		15,646
	Collateralized Mortgage Obligations — 25.3%
			Agency CMO — 20.0%
	67		Federal Home Loan Mortgage Corp. - Government National Mortgage Association, Series 24, Class ZE, 6.250%, 11/25/23		76
			Federal Home Loan Mortgage Corp. REMICS,
	5		Series 11, Class D, 9.500%, 07/15/19		5
	–	(h)	Series 41, Class I, HB, 84.000%, 05/15/20		—	(h)
	3		Series 46, Class B, 7.800%, 09/15/20		3
	1		Series 47, Class F, 10.000%, 06/15/20		1
	–	(h)	Series 85, Class C, 8.600%, 01/15/21		—	(h)
	3		Series 99, Class Z, 9.500%, 01/15/21		3
	15		Series 114, Class H, 6.950%, 01/15/21		17
	1		Series 1079, Class S, HB, IF , 33.150%, 05/15/21		1
	1		Series 1084, Class F, VAR, 1.200%, 05/15/21		1
	–	(h)	Series 1084, Class S, HB, IF , 44.100%, 05/15/21		1
	10		Series 1144, Class KB, 8.500%, 09/15/21		11
	–	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	–	(h)	Series 1196, Class B, HB, IF , 1,169.001%, 01/15/22		2
	10		Series 1206, Class IA, 7.000%, 03/15/22		11
	7		Series 1250, Class J, 7.000%, 05/15/22		8
	22		Series 1343, Class LA, 8.000%, 08/15/22		26
	94		Series 1466, Class PZ, 7.500%, 02/15/23		109
	1		Series 1470, Class F, VAR, 2.038%, 02/15/23		1
	34		Series 1491, Class I, 7.500%, 04/15/23		40
	35		Series 1518, Class G, IF, 8.794%, 05/15/23		43

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	32		Series 1541, Class O, VAR, 1.040%, 07/15/23		32
	3		Series 1602, Class SA, HB, IF , 21.938%, 10/15/23		5
	117		Series 1608, Class L, 6.500%, 09/15/23		131
	60		Series 1609, Class LG, IF, 16.792%, 11/15/23		70
	4		Series 1671, Class L, 7.000%, 02/15/24		5
	19		Series 1700, Class GA, PO, 02/15/24		17
	190		Series 1706, Class K, 7.000%, 03/15/24		220
	634		Series 1720, Class PL, 7.500%, 04/15/24		738
	19		Series 1745, Class D, 7.500%, 08/15/24		22
	38		Series 1798, Class F, 5.000%, 05/15/23		42
	2		Series 1807, Class G, 9.000%, 10/15/20		2
	179		Series 1927, Class PH, 7.500%, 01/15/27		209
	81		Series 1981, Class Z, 6.000%, 05/15/27		89
	26		Series 1987, Class PE, 7.500%, 09/15/27		30
	–	(h)	Series 2025, Class PE, 6.300%, 01/15/13		—	(h)
	12		Series 2033, Class SN, HB, IF , 26.769%, 03/15/24		8
	32		Series 2038, Class PN, IO, 7.000%, 03/15/28		7
	159		Series 2040, Class PE, 7.500%, 03/15/28		187
	38		Series 2056, Class TD, 6.500%, 05/15/18		41
	188		Series 2063, Class PG, 6.500%, 06/15/28		216
	29		Series 2064, Class TE, 7.000%, 06/15/28		34
	133		Series 2075, Class PH, 6.500%, 08/15/28		152
	128		Series 2075, Class PM, 6.250%, 08/15/28		133
	38		Series 2089, Class PJ, IO, 7.000%, 10/15/28		8
	5		Series 2102, Class TC, 6.000%, 12/15/13		5
	28		Series 2115, Class PE, 6.000%, 01/15/14		28
	86		Series 2125, Class JZ, 6.000%, 02/15/29		96
	17		Series 2163, Class PC, IO, 7.500%, 06/15/29		3
	380		Series 2169, Class TB, 7.000%, 06/15/29		445
	104		Series 2172, Class QC, 7.000%, 07/15/29		122
	1		Series 2196, Class TL, 7.500%, 11/15/29		1
	56		Series 2201, Class C, 8.000%, 11/15/29		66
	130		Series 2210, Class Z, 8.000%, 01/15/30		155
	50		Series 2224, Class CB, 8.000%, 03/15/30		60
	69		Series 2256, Class MC, 7.250%, 09/15/30		82
	97		Series 2259, Class ZM, 7.000%, 10/15/30		114
	81		Series 2271, Class PC, 7.250%, 12/15/30		95
	98		Series 2283, Class K, 6.500%, 12/15/23		110
	38		Series 2296, Class PD, 7.000%, 03/15/31		44
	20		Series 2306, Class K, PO, 05/15/24		18
	49		Series 2306, Class SE, IF, IO, 8.810%, 05/15/24		11
	68		Series 2333, Class HC, 6.000%, 07/15/31		69
	30		Series 2344, Class QG, 6.000%, 08/15/16		32
	819		Series 2344, Class ZD, 6.500%, 08/15/31		901
	114		Series 2344, Class ZJ, 6.500%, 08/15/31		125
	68		Series 2345, Class NE, 6.500%, 08/15/31		70
	56		Series 2345, Class PQ, 6.500%, 08/15/16		57
	62		Series 2347, Class VP, 6.500%, 03/15/20		62
	100		Series 2351, Class PZ, 6.500%, 08/15/31		112
	39		Series 2355, Class BP, 6.000%, 09/15/16		42
	44		Series 2360, Class PG, 6.000%, 09/15/16		47
	37		Series 2366, Class MD, 6.000%, 10/15/16		39
	62		Series 2391, Class QR, 5.500%, 12/15/16		66
	68		Series 2410, Class NG, 6.500%, 02/15/32		76
	102		Series 2410, Class OE, 6.375%, 02/15/32		111
	41		Series 2410, Class QX, IF, IO, 8.442%, 02/15/32		11
	175		Series 2412, Class SP, IF, 15.684%, 02/15/32		248
	45		Series 2423, Class MC, 7.000%, 03/15/32		53
	96		Series 2423, Class MT, 7.000%, 03/15/32		108
	243		Series 2435, Class CJ, 6.500%, 04/15/32		280
	121		Series 2441, Class GF, 6.500%, 04/15/32		140
	106		Series 2444, Class ES, IF, IO, 7.742%, 03/15/32		24
	127		Series 2450, Class GZ, 7.000%, 05/15/32		149
	42		Series 2450, Class SW, IF, IO, 7.792%, 03/15/32		10
	193		Series 2455, Class GK, 6.500%, 05/15/32		223

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	286	Series 2466, Class DH, 6.500%, 06/15/32		318
	132	Series 2466, Class PG, 6.500%, 04/15/32		136
	136	Series 2474, Class NR, 6.500%, 07/15/32		153
	251	Series 2484, Class LZ, 6.500%, 07/15/32		290
	363	Series 2500, Class MC, 6.000%, 09/15/32		404
	499	Series 2512, Class PG, 5.500%, 10/15/22		552
	86	Series 2535, Class BK, 5.500%, 12/15/22		96
	158	Series 2537, Class TE, 5.500%, 12/15/17		169
	565	Series 2543, Class YX, 6.000%, 12/15/32		639
	770	Series 2568, Class KG, 5.500%, 02/15/23		844
	810	Series 2575, Class ME, 6.000%, 02/15/33		923
	74	Series 2586, Class WI, IO, 6.500%, 03/15/33		15
	8	Series 2587, Class CO, PO, 03/15/32		8
	10	Series 2597, Class AD, 6.500%, 03/15/32		10
	7	Series 2597, Class DS, IF, IO, 7.342%, 02/15/33		—	(h)
	10	Series 2599, Class DS, IF, IO, 6.792%, 02/15/33		—	(h)
	11	Series 2610, Class DS, IF, IO, 6.892%, 03/15/33		—	(h)
	235	Series 2617, Class GR, 4.500%, 05/15/18		250
	184	Series 2622, Class PE, 4.500%, 05/15/18		195
	106	Series 2631, Class LC, 4.500%, 06/15/18		112
	60	Series 2640, Class VE, 3.250%, 07/15/22		60
	165	Series 2651, Class VZ, 4.500%, 07/15/18		175
	152	Series 2672, Class ME, 5.000%, 11/15/22		159
	336	Series 2675, Class CK, 4.000%, 09/15/18		353
	6	Series 2682, Class YS, IF, 8.682%, 10/15/33		6
	589	Series 2684, Class PO, PO, 01/15/33		583
	195	Series 2744, Class TU, 5.500%, 05/15/32		208
	4	Series 2755, Class PA, PO, 02/15/29		4
	20	Series 2755, Class SA, IF, 13.784%, 05/15/30		21
	333	Series 2777, Class KO, PO, 02/15/33		328
	117	Series 2802, Class MB, 5.500%, 11/15/31		118
	744	Series 2907, Class VC, 4.500%, 05/15/34		795
	192	Series 2934, Class EC, PO, 02/15/20		185
	204	Series 2990, Class SL, HB, IF , 23.731%, 06/15/34		289
	500	Series 2999, Class ND, 4.500%, 07/15/20		541
	172	Series 3068, Class AO, PO, 01/15/35		168
	264	Series 3117, Class EO, PO, 02/15/36		254
	29	Series 3117, Class OK, PO, 02/15/36		28
	413	Series 3122, Class OH, PO, 03/15/36		380
	365	Series 3137, Class XP, 6.000%, 04/15/36		410
	14	Series 3149, Class SO, PO, 05/15/36		13
	485	Series 3152, Class MO, PO, 03/15/36		453
	211	Series 3171, Class MO, PO, 06/15/36		199
	160	Series 3179, Class OA, PO, 07/15/36		154
	796	Series 3202, Class HI, IF, IO, 6.442%, 08/15/36		135
	180	Series 3232, Class ST, IF, IO, 6.492%, 10/15/36		30
	200	Series 3253, Class PO, PO, 12/15/21		192
	135	Series 3316, Class JO, PO, 05/15/37		130
	435	Series 3481, Class SJ, IF, IO, 5.642%, 08/15/38		64
	259	Series 3607, Class AO, PO, 04/15/36		246
	163	Series 3607, Class EO, PO, 02/15/33		161
	151	Series 3611, Class PO, PO, 07/15/34		143
	851	Series 3666, Class VA, 5.500%, 12/15/22		906
	818	Series 3680, Class MA, 4.500%, 07/15/39		917
	685	Series 3804, Class FN, VAR, 0.658%, 03/15/39		688
	1,105	Series 3819, Class ZQ, 6.000%, 04/15/36		1,291
	469	Series 3997, Class PF, VAR, 0.658%, 11/15/39		472
		Federal Home Loan Mortgage Corp. STRIPS,
	85	Series 243, Class 16, IO, 4.500%, 11/15/20		7
	993	Series 262, Class 35, 3.500%, 07/15/42		1,074

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	990		Series 267, Class F5, VAR, 0.708%, 08/15/42		995
			Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	51		Series T-41, Class 3A, VAR, 6.804%, 07/25/32		59
	42		Series T-51, Class 2A, VAR, 7.500%, 08/25/42		50
	416		Series T-54, Class 2A, 6.500%, 02/25/43		496
	144		Series T-54, Class 3A, 7.000%, 02/25/43		173
	1,098		Series T-56, Class A5, 5.231%, 05/25/43		1,231
	38		Series T-58, Class APO, PO, 09/25/43		36
	296		Series T-76, Class 2A, VAR, 3.445%, 10/25/37		302
			Federal National Mortgage Association - ACES,
	500		Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		583
	1,159		Series 2012-M11, Class FA, VAR, 0.712%, 08/25/19		1,169
	140		Federal National Mortgage Association Grantor Trust, Series 2001-T10, Class A2, 7.500%, 12/25/41		172
			Federal National Mortgage Association REMIC Trust,
	194		Series 2003-W1, Class 1A1, VAR, 6.189%, 12/25/42		226
	53		Series 2003-W4, Class 2A, VAR, 6.468%, 10/25/42		60
	94		Series 2007-W7, Class 1A4, HB, IF , 37.935%, 07/25/37		163
			Federal National Mortgage Association REMICS,
	2		Series 1988-7, Class Z, 9.250%, 04/25/18		2
	9		Series 1989-70, Class G, 8.000%, 10/25/19		11
	4		Series 1989-78, Class H, 9.400%, 11/25/19		4
	3		Series 1989-83, Class H, 8.500%, 11/25/19		3
	3		Series 1989-89, Class H, 9.000%, 11/25/19		3
	1		Series 1990-1, Class D, 8.800%, 01/25/20		1
	2		Series 1990-7, Class B, 8.500%, 01/25/20		2
	1		Series 1990-60, Class K, 5.500%, 06/25/20		2
	2		Series 1990-63, Class H, 9.500%, 06/25/20		2
	1		Series 1990-93, Class G, 5.500%, 08/25/20		2
	–	(h)	Series 1990-94, Class H, HB, 505.000%, 08/25/20		—	(h)
	–	(h)	Series 1990-95, Class J, HB, 1,118.040%, 08/25/20		1
	12		Series 1990-102, Class J, 6.500%, 08/25/20		13
	4		Series 1990-120, Class H, 9.000%, 10/25/20		4
	1		Series 1990-134, Class SC, HB, IF , 21.272%, 11/25/20		2
	–	(h)	Series 1990-140, Class K, HB, 652.145%, 12/25/20		1
	–	(h)	Series 1991-7, Class K, HB, 908.500%, 02/25/21		—	(h)
	4		Series 1991-42, Class S, IF, 17.292%, 05/25/21		6
	63		Series 1992-107, Class SB, HB, IF, 29.421%, 06/25/22		107
	5		Series 1992-143, Class MA, 5.500%, 09/25/22		6
	35		Series 1993-25, Class J, 7.500%, 03/25/23		40
	213		Series 1993-37, Class PX, 7.000%, 03/25/23		242
	75		Series 1993-54, Class Z, 7.000%, 04/25/23		85
	16		Series 1993-62, Class SA, IF, 18.111%, 04/25/23		22
	20		Series 1993-122, Class M, 6.500%, 07/25/23		22
	8		Series 1993-165, Class SD, IF, 12.654%, 09/25/23		10
	33		Series 1993-178, Class PK, 6.500%, 09/25/23		36
	565		Series 1993-183, Class KA, 6.500%, 10/25/23		635
	242		Series 1993-189, Class PL, 6.500%, 10/25/23		277
	9		Series 1993-225, Class SG, HB, IF , 26.596%, 12/25/13		10
	52		Series 1993-247, Class SA, HB, IF , 26.414%, 12/25/23		87
	77		Series 1993-250, Class Z, 7.000%, 12/25/23		81
	15		Series 1993-257, Class C, PO, 06/25/23		15

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	3	Series 1994-9, Class E, PO, 11/25/23		3
	137	Series 1996-14, Class SE, IF, IO, 8.940%, 08/25/23		29
	6	Series 1996-27, Class FC, VAR, 0.719%, 03/25/17		6
	17	Series 1996-59, Class J, 6.500%, 08/25/22		19
	72	Series 1997-20, Class IB, IO, VAR, 1.840%, 03/25/27		3
	70	Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		3
	38	Series 1997-27, Class J, 7.500%, 04/18/27		43
	36	Series 1997-29, Class J, 7.500%, 04/20/27		42
	75	Series 1997-39, Class PD, 7.500%, 05/20/27		88
	28	Series 1997-81, Class PI, IO, 7.000%, 12/18/27		5
	3	Series 1998-4, Class C, PO, 04/25/23		3
	33	Series 1998-36, Class ZB, 6.000%, 07/18/28		36
	314	Series 1998-43, Class EA, PO, 04/25/23		288
	176	Series 2000-2, Class ZE, 7.500%, 02/25/30		206
	62	Series 2001-4, Class PC, 7.000%, 03/25/21		67
	12	Series 2001-5, Class OW, 6.000%, 03/25/16		12
	148	Series 2001-33, Class ID, IO, 6.000%, 07/25/31		31
	151	Series 2001-36, Class DE, 7.000%, 08/25/31		177
	38	Series 2001-44, Class PD, 7.000%, 09/25/31		44
	252	Series 2001-48, Class Z, 6.500%, 09/25/21		282
	35	Series 2001-49, Class Z, 6.500%, 09/25/31		41
	81	Series 2001-71, Class MB, 6.000%, 12/25/16		86
	103	Series 2001-71, Class QE, 6.000%, 12/25/16		109
	590	Series 2001-74, Class MB, 6.000%, 12/25/16		627
	28	Series 2001-81, Class LO, PO, 01/25/32		25
	76	Series 2002-1, Class HC, 6.500%, 02/25/22		85
	33	Series 2002-1, Class SA, HB, IF , 24.513%, 02/25/32		52
	48	Series 2002-2, Class UC, 6.000%, 02/25/17		52
	97	Series 2002-3, Class OG, 6.000%, 02/25/17		102
	101	Series 2002-21, Class PE, 6.500%, 04/25/32		112
	181	Series 2002-24, Class AJ, 6.000%, 04/25/17		194
	101	Series 2002-28, Class PK, 6.500%, 05/25/32		117
	121	Series 2002-37, Class Z, 6.500%, 06/25/32		133
	249	Series 2002-84, Class VB, 5.500%, 04/25/15		250
	3	Series 2002-91, Class UH, IO, 5.500%, 06/25/22		—	(h)
	249	Series 2002-94, Class BK, 5.500%, 01/25/18		265
	202	Series 2003-22, Class UD, 4.000%, 04/25/33		228
	162	Series 2003-34, Class GB, 6.000%, 03/25/33		188
	304	Series 2003-34, Class GE, 6.000%, 05/25/33		374
	25	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		5
	405	Series 2003-47, Class PE, 5.750%, 06/25/33		458
	60	Series 2003-52, Class SX, HB, IF , 22.327%, 10/25/31		98
	54	Series 2003-64, Class SX, IF, 13.220%, 07/25/33		63
	219	Series 2003-71, Class DS, IF, 7.184%, 08/25/33		232
	43	Series 2003-73, Class GA, 3.500%, 05/25/31		43
	215	Series 2003-80, Class SY, IF, IO, 7.442%, 06/25/23		26
	225	Series 2003-83, Class PG, 5.000%, 06/25/23		240
	42	Series 2003-91, Class SD, IF, 12.154%, 09/25/33		50
	319	Series 2003-116, Class SB, IF, IO, 7.392%, 11/25/33		68
	18	Series 2003-128, Class KE, 4.500%, 01/25/14		19
	453	Series 2003-128, Class NG, 4.000%, 01/25/19		478

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	66	Series 2003-130, Class SX, IF, 11.209%, 01/25/34		77
	1,000	Series 2004-21, Class AE, 4.000%, 04/25/19		1,058
	3	Series 2004-21, Class CO, PO, 04/25/34		3
	405	Series 2004-25, Class PC, 5.500%, 01/25/34		442
	225	Series 2004-25, Class SA, IF, 18.954%, 04/25/34		331
	263	Series 2004-36, Class PC, 5.500%, 02/25/34		288
	188	Series 2004-36, Class SA, IF, 18.954%, 05/25/34		277
	139	Series 2004-46, Class SK, IF, 15.929%, 05/25/34		179
	794	Series 2004-50, Class VZ, 5.500%, 07/25/34		929
	108	Series 2004-61, Class SH, HB, IF , 23.158%, 11/25/32		167
	114	Series 2004-74, Class SW, IF, 15.085%, 11/25/31		166
	198	Series 2004-76, Class CL, 4.000%, 10/25/19		209
	986	Series 2004-86, Class AE, 4.500%, 02/25/32		996
	4	Series 2005-40, Class YA, 5.000%, 09/25/20		4
	180	Series 2005-45, Class DC, HB, IF , 23.549%, 06/25/35		296
	76	Series 2005-52, Class PA, 6.500%, 06/25/35		82
	159	Series 2005-56, Class S, IF, IO, 6.503%, 07/25/35		27
	296	Series 2005-56, Class TP, IF, 17.528%, 08/25/33		417
	934	Series 2005-68, Class PG, 5.500%, 08/25/35		1,057
	361	Series 2005-73, Class PS, IF, 16.181%, 08/25/35		490
	168	Series 2005-74, Class CS, IF, 19.449%, 05/25/35		242
	329	Series 2005-106, Class US, HB, IF , 23.806%, 11/25/35		504
	1,000	Series 2005-121, Class DX, 5.500%, 01/25/26		1,130
	404	Series 2006-27, Class OH, PO, 04/25/36		372
	140	Series 2006-44, Class P, PO, 12/25/33		134
	749	Series 2006-56, Class FC, VAR, 0.497%, 07/25/36		751
	287	Series 2006-59, Class QO, PO, 01/25/33		282
	141	Series 2006-65, Class QO, PO, 07/25/36		133
	199	Series 2006-72, Class GO, PO, 08/25/36		185
	380	Series 2006-77, Class PC, 6.500%, 08/25/36		437
	160	Series 2006-79, Class DO, PO, 08/25/36		151
	321	Series 2006-110, Class PO, PO, 11/25/36		309
	847	Series 2006-124, Class HB, VAR, 5.967%, 11/25/36		955
	276	Series 2007-14, Class ES, IF, IO, 6.233%, 03/25/37		44
	178	Series 2007-79, Class SB, HB, IF , 23.256%, 08/25/37		248
	500	Series 2007-81, Class GE, 6.000%, 08/25/37		604
	364	Series 2007-88, Class VI, IF, IO, 6.333%, 09/25/37		68
	907	Series 2007-91, Class ES, IF, IO, 6.253%, 10/25/37		171
	222	Series 2007-106, Class A7, VAR, 5.969%, 10/25/37		248
	195	Series 2007-116, Class HI, IO, VAR, 2.276%, 01/25/38		14
	155	Series 2008-10, Class XI, IF, IO, 6.023%, 03/25/38		26
	156	Series 2008-16, Class IS, IF, IO, 5.992%, 03/25/38		24
	201	Series 2008-28, Class QS, HB,IF, 20.078%, 04/25/38		291
	171	Series 2008-46, Class HI, IO, VAR, 4.358%, 06/25/38		11
	15	Series 2008-66, Class GD, 6.000%, 06/25/30		15
	220	Series 2009-69, Class PO, PO, 09/25/39		213
	758	Series 2009-71, Class BC, 4.500%, 09/25/24		885
	339	Series 2009-103, Class MB, VAR, 3.247%, 12/25/39		364
	678	Series 2010-71, Class HJ, 5.500%, 07/25/40		757
	1,185	Series 2010-133, Class A, 5.500%, 05/25/38		1,283
	801	Series 2011-118, Class MT, 7.000%, 11/25/41		987
	792	Series 2011-118, Class NT, 7.000%, 11/25/41		924
	932	Series 2011-149, Class EF, VAR, 0.708%, 07/25/41		939

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	460	Series 2012-47, Class HF, VAR, 0.608%, 05/25/27		463
	4	Series G-14, Class L, 8.500%, 06/25/21		4
	16	Series G-18, Class Z, 8.750%, 06/25/21		19
	3	Series G-22, Class G, 6.000%, 12/25/16		4
	13	Series G-35, Class M, 8.750%, 10/25/21		15
	52	Series G92-35, Class E, 7.500%, 07/25/22		58
	3	Series G92-42, Class Z, 7.000%, 07/25/22		3
	50	Series G92-44, Class ZQ, 8.000%, 07/25/22		55
	51	Series G92-54, Class ZQ, 7.500%, 09/25/22		58
	12	Series G93-5, Class Z, 6.500%, 02/25/23		14
	17	Series G95-1, Class C, 8.800%, 01/25/25		20
		Federal National Mortgage Association STRIPS,
	1	Series 50, Class 2, IO, 10.500%, 03/01/19		—	(h)
	3	Series 218, Class 2, IO, 7.500%, 04/01/23		1
	150	Series 300, Class 1, PO, 09/01/24		137
	31	Series 329, Class 1, PO, 01/01/33		29
		Federal National Mortgage Association Trust,
	127	Series 2004-W2, Class 2A2, 7.000%, 02/25/44		147
	393	Series 2005-W3, Class 2AF, VAR, 0.428%, 03/25/45		391
		Government National Mortgage Association,
	149	Series 1994-4, Class KQ, 7.988%, 07/16/24		180
	271	Series 1994-7, Class PQ, 6.500%, 10/16/24		319
	71	Series 1995-3, Class DQ, 8.050%, 06/16/25		82
	17	Series 1995-7, Class CQ, 7.500%, 09/16/25		19
	27	Series 1998-26, Class K, 7.500%, 09/17/25		31
	380	Series 1999-10, Class ZC, 6.500%, 04/20/29		448
	36	Series 1999-30, Class S, IF, IO, 8.393%, 08/16/29		7
	40	Series 1999-41, Class Z, 8.000%, 11/16/29		47
	35	Series 1999-44, Class PC, 7.500%, 12/20/29		41
	16	Series 2000-9, Class Z, 8.000%, 06/20/30		19
	334	Series 2000-9, Class ZJ, 8.500%, 02/16/30		418
	124	Series 2000-14, Class PD, 7.000%, 02/16/30		146
	34	Series 2000-16, Class ZN, 7.500%, 02/16/30		35
	102	Series 2001-7, Class PK, 6.500%, 03/20/31		109
	6	Series 2001-32, Class WA, IF, 19.606%, 07/20/31		10
	227	Series 2001-64, Class MQ, 6.500%, 12/20/31		241
	39	Series 2002-7, Class PG, 6.500%, 01/20/32		46
	59	Series 2002-31, Class S, IF, IO, 8.493%, 01/16/31		19
	148	Series 2002-40, Class UK, 6.500%, 06/20/32		176
	141	Series 2002-47, Class PG, 6.500%, 07/16/32		167
	183	Series 2002-47, Class PY, 6.000%, 07/20/32		212
	173	Series 2002-47, Class ZA, 6.500%, 07/20/32		206
	15	Series 2002-51, Class SG, HB, IF , 31.601%, 04/20/31		30
	84	Series 2002-54, Class GB, 6.500%, 08/20/32		97
	29	Series 2003-4, Class NI, IO, 5.500%, 01/20/32		—	(h)
	50	Series 2003-4, Class NY, 5.500%, 12/20/13		51
	30	Series 2003-24, Class PO, PO, 03/16/33		27
	304	Series 2003-40, Class TJ, 6.500%, 03/20/33		382
	148	Series 2003-52, Class AP, PO, 06/16/33		138
	33	Series 2004-28, Class S, IF, 19.092%, 04/16/34		52
	39	Series 2004-68, Class PO, PO, 05/20/31		38
	109	Series 2004-71, Class SB, HB, IF , 28.445%, 09/20/34		182
	61	Series 2004-73, Class AE, IF, 14.427%, 08/17/34		80
	558	Series 2004-90, Class SI, IF, IO, 5.893%, 10/20/34		91

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	168	Series 2005-68, Class DP, IF, 15.934%, 06/17/35		219
	1,153	Series 2005-68, Class KI, IF, IO, 6.092%, 09/20/35		184
	135	Series 2006-59, Class SD, IF, IO, 6.492%, 10/20/36		27
	435	Series 2007-17, Class JI, IF, IO, 6.603%, 04/16/37		82
	531	Series 2007-27, Class SA, IF, IO, 5.992%, 05/20/37		89
	861	Series 2007-40, Class SB, IF, IO, 6.542%, 07/20/37		145
	538	Series 2007-45, Class QA, IF, IO, 6.433%, 07/20/37		87
	110	Series 2007-49, Class NO, PO, 12/20/35		109
	605	Series 2007-50, Class AI, IF, IO, 6.568%, 08/20/37		92
	130	Series 2007-53, Class ES, IF, IO, 6.343%, 09/20/37		23
	152	Series 2007-53, Class SW, IF, 19.582%, 09/20/37		233
	312	Series 2007-57, Class QA, IF, IO, 6.293%, 10/20/37		49
	207	Series 2007-71, Class SB, IF, IO, 6.492%, 07/20/36		22
	304	Series 2007-72, Class US, IF, IO, 6.343%, 11/20/37		44
	303	Series 2007-76, Class SA, IF, IO, 6.323%, 11/20/37		45
	84	Series 2008-25, Class SB, IF, IO, 6.693%, 03/20/38		15
	168	Series 2008-33, Class XS, IF, IO, 7.493%, 04/16/38		31
	386	Series 2008-40, Class SA, IF, IO, 6.193%, 05/16/38		83
	500	Series 2008-50, Class KB, 6.000%, 06/20/38		584
	433	Series 2008-55, Class SA, IF, IO, 5.992%, 06/20/38		66
	383	Series 2008-93, Class AS, IF, IO, 5.492%, 12/20/38		55
	170	Series 2009-6, Class SA, IF, IO, 5.893%, 02/16/39		26
	178	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		34
	658	Series 2009-22, Class SA, IF, IO, 6.063%, 04/20/39		92
	638	Series 2009-31, Class ST, IF, IO, 6.143%, 03/20/39		86
	638	Series 2009-31, Class TS, IF, IO, 6.093%, 03/20/39		85
	432	Series 2009-79, Class OK, PO, 11/16/37		412
	878	Series 2009-106, Class ST, IF, IO, 5.793%, 02/20/38		134
	263	Series 2010-14, Class AO, PO, 12/20/32		255
	295	Series 2010-130, Class CP, 7.000%, 10/16/40		349
	852	Series 2011-137, Class WA, VAR, 5.536%, 07/20/40		975
	500	Series 2012-H21, Class DF, VAR, 0.865%, 05/20/61		503
	500	Series 2012-H24, Class FA, VAR, 0.664%, 03/20/60		500
	505	Series 2012-H26, Class MA, VAR, 0.760%, 07/20/62		505
		NCUA Guaranteed Notes Trust,
	744	Series 2010-C1, Class APT, 2.650%, 10/29/20		788
	172	Series 2010-R3, Class 3A, 2.400%, 12/08/20		177
		Vendee Mortgage Trust,
	737	Series 1993-1, Class ZB, 7.250%, 02/15/23		872
	305	Series 1994-1, Class 1, VAR, 5.629%, 02/15/24		347
	443	Series 1996-1, Class 1Z, 6.750%, 02/15/26		518
	151	Series 1996-2, Class 1Z, 6.750%, 06/15/26		179
	598	Series 1997-1, Class 2Z, 7.500%, 02/15/27		709
	146	Series 1998-1, Class 2E, 7.000%, 03/15/28		175
				75,142
		Non-Agency CMO — 5.3%
		American General Mortgage Loan Trust,
	232	Series 2009-1, Class A4, VAR, 5.750%, 09/25/48 (e)		233
	200	Series 2009-1, Class A5, VAR, 5.750%, 09/25/48 (e)		204
	400	Series 2009-1, Class A7, VAR, 5.750%, 09/25/48 (e)		417
		ASG Resecuritization Trust,
	174	Series 2009-1, Class A60, VAR, 2.467%, 06/26/37 (e)		173
	182	Series 2009-2, Class A55, VAR, 5.171%, 05/24/36 (e)		186

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	452	Series 2009-3, Class A65, VAR, 2.571%, 03/26/37 (e)		452
		Banc of America Alternative Loan Trust,
	152	Series 2003-7, Class 2A4, 5.000%, 09/25/18		156
	107	Series 2003-9, Class 1CB2, 5.500%, 11/25/33		109
	49	Series 2003-11, Class PO, PO, 01/25/34		39
	53	Banc of America Funding Corp., Series 2004-1, Class PO, PO, 03/25/34		42
		Banc of America Mortgage Trust,
	31	Series 2003-8, Class APO, PO, 11/25/33		26
	61	Series 2004-1, Class APO, PO, 02/25/34		55
	200	Series 2004-3, Class 1A26, 5.500%, 04/25/34		204
	44	Series 2004-6, Class APO, PO, 07/25/34		42
		BCAP LLC Trust,
	430	Series 2010-RR7, Class 2A1, VAR, 2.521%, 07/26/45 (e)		407
	429	Series 2011-RR10, Class 2A1, VAR, 3.223%, 09/26/37 (e)		381
	105	Series 2011-RR5, Class 14A3, VAR, 2.917%, 07/26/36 (e) (i)		101
	399	Series 2012-RR2, Class 1A1, VAR, 0.377%, 08/26/36 (e) (i)		381
	156	Bear Stearns ARM Trust, Series 2005-5, Class A1, VAR, 2.240%, 08/25/35		157
		Citigroup Mortgage Loan Trust,
	205	Series 2008-AR4, Class 1A1A, VAR, 3.023%, 11/25/38 (e)		209
	955	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		992
	515	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		539
		Citigroup Mortgage Loan Trust, Inc.,
	33	Series 2003-UP3, Class A3, 7.000%, 09/25/33		35
	80	Series 2003-UST1, Class A1, 5.500%, 12/25/18		83
	10	Series 2003-UST1, Class PO1, PO, 12/25/18		9
	8	Series 2003-UST1, Class PO3, PO, 12/25/18		7
		Countrywide Alternative Loan Trust,
	237	Series 2002-8, Class A4, 6.500%, 07/25/32		247
	1,660	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		1,635
	167	Series 2004-18CB, Class 2A4, 5.700%, 09/25/34		170
	454	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		397
		Countrywide Home Loan Mortgage Pass-Through Trust,
	218	Series 2003-26, Class 1A6, 3.500%, 08/25/33		218
	43	Series 2003-J13, Class PO, PO, 01/25/34		39
	59	Series 2003-J7, Class 4A3, IF, 9.505%, 08/25/18		62
	133	Series 2004-5, Class 1A4, 5.500%, 06/25/34		138
	42	Series 2004-HYB3, Class 2A, VAR, 2.824%, 06/20/34		40
	425	Series 2005-22, Class 2A1, VAR, 3.012%, 11/25/35		333
	218	Series 2005-R1, Class 2APO, PO, 03/25/35 (e)		164
	98	CS First Boston Mortgage Securities Corp., Series 2003-23, Class 2A5, 5.000%, 10/25/18		101
		CSMC,
	989	Series 2010-11R, Class A6, VAR, 1.209%, 06/28/47 (e)		941
	19	Series 2010-15R, Class 7A1, VAR, 1.464%, 10/26/37 (e)		19
	890	Series 2011-7R, Class A1, VAR, 1.465%, 08/28/47 (e)		881
	345	Series 2011-9R, Class A1, VAR, 2.216%, 03/27/46 (e)		346
	201	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		205
	275	Deutsche ALT-A Securities, Inc., Alternate Loan Trust, Series 2005-3, Class 1A1, VAR, 5.325%, 06/25/20		281
	35	Deutsche Mortgage Securities, Inc., Series 2004-1, Class 2APO, PO, 10/25/18		31
		First Horizon Mortgage Pass-Through Trust,
	12	Series 2004-AR7, Class 2A1, VAR, 2.565%, 02/25/35		12
	202	Series 2004-AR7, Class 2A2, VAR, 2.565%, 02/25/35		194
	209	Series 2005-AR1, Class 2A2, VAR, 2.625%, 04/25/35		210
	500	GSR Mortgage Loan Trust, Series 2006-1F, Class 1A3, 5.500%, 02/25/36		477
	58	Impac Secured Assets CMN Owner Trust, Series 2002-2, Class APO, PO, 04/25/33		41

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Non-Agency CMO — Continued
	339		Indymac Index Mortgage Loan Trust, Series 2005-AR11, Class A7, IO, VAR, 08/25/35		—	(h)
			JP Morgan Mortgage Trust,
	113		Series 2006-A2, Class 4A1, VAR, 3.014%, 08/25/34		114
	377		Series 2006-A2, Class 5A3, VAR, 2.913%, 11/25/33		382
			MASTR Adjustable Rate Mortgages Trust,
	51		Series 2004-3, Class 4A2, VAR, 2.605%, 04/25/34		51
	334		Series 2004-13, Class 2A1, VAR, 2.665%, 04/21/34		337
	29		Series 2004-13, Class 3A6, VAR, 2.627%, 11/21/34		29
			MASTR Alternative Loans Trust,
	241		Series 2003-9, Class 8A1, 6.000%, 01/25/34		256
	633		Series 2004-4, Class 10A1, 5.000%, 05/25/24		658
	38		Series 2004-7, Class 30PO, PO, 08/25/34		29
	53		Series 2004-10, Class 1A1, 4.500%, 09/25/19		54
	222		Series 2005-6, Class 3A1, 5.500%, 11/25/20		221
			MASTR Asset Securitization Trust,
	144		Series 2003-2, Class 1A1, 5.000%, 03/25/18		149
	20		Series 2004-8, Class PO, PO, 08/25/19		19
	149		MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		119
	62		MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.528%, 02/25/35		59
			Nomura Asset Acceptance Corp.,
	77		Series 2003-A1, Class A1, 5.500%, 05/25/33		78
	26		Series 2003-A1, Class A2, 6.000%, 05/25/33		27
	12		Series 2003-A1, Class A5, 7.000%, 04/25/33		13
	82		Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		83
	–	(h)	Paine Webber CMO Trust, Series H, Class 4, 8.750%, 04/01/18		—	(h)
			RALI Trust,
	51		Series 2002-QS16, Class A3, IF, 16.189%, 10/25/17		58
	270		Series 2002-QS8, Class A5, 6.250%, 06/25/17		277
	76		Series 2003-QS3, Class A2, IF, 16.044%, 02/25/18		84
	313		Series 2003-QS9, Class A3, IF, IO, 7.342%, 05/25/18		43
	290		Series 2004-QS3, Class CB, 5.000%, 03/25/19		302
	6		Series 2004-QS8, Class A2, 5.000%, 06/25/34		6
	29		Residential Asset Securitization Trust, Series 2003-A14, Class A1, 4.750%, 02/25/19		30
			Salomon Brothers Mortgage Securities VII, Inc.,
	121		Series 2003-HYB1, Class A, VAR, 3.099%, 09/25/33		123
	12		Series 2003-UP2, Class PO1, PO, 12/25/18		11
			Springleaf Mortgage Loan Trust,
	241		Series 2011-1A, Class A1, VAR, 4.050%, 01/25/58 (e)		248
	450		Series 2012-2A, Class A, VAR, 2.220%, 10/25/57 (e)		455
	338		Series 2012-3A, Class A, VAR, 1.570%, 12/25/59 (e)		339
	103		Series 2012-3A, Class M1, VAR, 2.660%, 12/25/59 (e)		103
			Structured Asset Securities Corp.,
	159		Series 2003-33H, Class 1A1, 5.500%, 10/25/33		161
	139		Series 2005-6, Class 4A1, 5.000%, 05/25/35		141
	23		Vericrest Opportunity Loan Trust, Series 2012-NL1A, Class A1, VAR, 4.213%, 03/25/49 (e) (i)		24
			WaMu Mortgage Pass-Through Certificates,
	80		Series 2002-S8, Class 2A7, 5.250%, 01/25/18		82
	213		Series 2003-AR5, Class A7, VAR, 2.454%, 06/25/33		217
	5		Series 2003-S11, Class 2A5, IF, 16.479%, 11/25/33		5
	111		Series 2004-AR3, Class A2, VAR, 2.572%, 06/25/34		113
	346		Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2005-4, Class CB7, 5.500%, 06/25/35		331

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
		Washington Mutual MSC Mortgage Pass-Through Certificates,
	60	Series 2003-MS2, Class 1A1, 5.750%, 02/25/33		62
	14	Series 2003-MS7, Class P, PO, 03/25/33		13
	206	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		207
		Wells Fargo Mortgage-Backed Securities Trust,
	28	Series 2003-11, Class 1APO, PO, 10/25/18		26
	129	Series 2003-13, Class A7, 4.500%, 11/25/18		132
	103	Series 2003-15, Class 1A1, 4.750%, 12/25/18		107
	104	Series 2003-K, Class 1A1, VAR, 4.434%, 11/25/33		107
	41	Series 2004-7, Class 2A2, 5.000%, 07/25/19		43
	121	Series 2004-BB, Class A4, VAR, 2.625%, 01/25/35		122
	139	Series 2004-EE, Class 3A1, VAR, 3.049%, 12/25/34		144
	459	Series 2004-P, Class 2A1, VAR, 2.616%, 09/25/34		464
				20,079
		Total Collateralized Mortgage Obligations (Cost $87,581)		95,221
	Commercial Mortgage-Backed Securities — 1.5%
		Banc of America Commercial Mortgage Trust,
	50	Series 2006-1, Class A4, VAR, 5.372%, 09/10/45		56
	300	Series 2006-4, Class A4, 5.634%, 07/10/46		345
		Banc of America Merrill Lynch Commercial Mortgage, Inc.,
	150	Series 2005-3, Class AM, 4.727%, 07/10/43		159
	333	Series 2005-6, Class ASB, VAR, 5.363%, 09/10/47		343
	200	BB-UBS Trust, Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		205
		Bear Stearns Commercial Mortgage Securities,
	135	Series 2005-PWR9, Class AAB, 4.804%, 09/11/42		141
	360	Series 2006-PW11, Class A4, VAR, 5.619%, 03/11/39		407
	16,130	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.198%, 12/11/49 (e)		125
	229	Fontainebleau Miami Beach Trust, Series 2012-FBLU, Class A, 2.887%, 05/05/27 (e)		236
	300	GMAC Commercial Mortgage Securities, Inc., Series 2006-C1, Class A4, VAR, 5.238%, 11/10/45		332
	50	LB-UBS Commercial Mortgage Trust, Series 2006-C1, Class A4, 5.156%, 02/15/31		56
	241	Merrill Lynch Mortgage Trust, Series 2005-MCP1, Class ASB, VAR, 4.674%, 06/12/43		242
		Morgan Stanley Re-REMIC Trust,
	60	Series 2010-C30A, Class A3A, 3.250%, 12/17/43 (e)		60
	400	Series 2010-HQ4B, Class A7A, 4.970%, 04/16/40 (e)		421
	141	Series 2011-IO, Class A, 2.500%, 03/23/51 (e)		142
	594	Series 2012-XA, Class A, 2.000%, 07/27/49		602
	129	NorthStar Mortgage Trust, Series 2012-1, Class A, VAR, 1.407%, 08/25/29 (e)		128
	943	TIAA Seasoned Commercial Mortgage Trust, Series 2007-C4, Class A3, VAR, 5.585%, 08/15/39		999
	116	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		124
	104	UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class A4, 3.525%, 05/10/63		113
	448	Wells Fargo Re-REMIC Trust, Series 2012- IO, Class A, 1.750%, 08/20/21 (e)		448
		Total Commercial Mortgage-Backed Securities (Cost $5,398)		5,684
	Corporate Bonds — 18.4%
		Consumer Discretionary — 1.1%
		Auto Components — 0.0% (g)
	99	Johnson Controls, Inc., 3.750%, 12/01/21		106
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	150	1.650%, 04/10/15 (e)		152

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Automobiles — Continued
	150	2.625%, 09/15/16 (e)		157
				309
		Hotels, Restaurants & Leisure — 0.0% (g)
	150	McDonald’s Corp., 4.300%, 03/01/13		151
		Household Durables — 0.0% (g)
	50	Newell Rubbermaid, Inc., 4.700%, 08/15/20		56
		Media — 0.7%
		CBS Corp.,
	25	5.750%, 04/15/20		30
	135	8.875%, 05/15/19		184
	200	Comcast Cable Communications Holdings, Inc., 8.375%, 03/15/13		204
	100	Comcast Corp., 5.900%, 03/15/16		116
	50	COX Communications, Inc., 5.450%, 12/15/14		55
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	150	4.600%, 02/15/21		163
	353	5.000%, 03/01/21		394
	78	Discovery Communications LLC, 4.375%, 06/15/21		88
		News America, Inc.,
	100	7.250%, 05/18/18		127
	100	7.700%, 10/30/25		135
		Thomson Reuters Corp., (Canada),
	105	3.950%, 09/30/21		116
	60	4.700%, 10/15/19		68
		Time Warner Cable, Inc.,
	100	5.850%, 05/01/17		118
	50	6.750%, 07/01/18		63
	100	8.250%, 02/14/14		109
	150	8.250%, 04/01/19		200
	35	8.750%, 02/14/19		47
		Viacom, Inc.,
	33	1.250%, 02/27/15		33
	50	3.125%, 06/15/22		51
	43	3.875%, 12/15/21		48
	50	4.500%, 03/01/21		57
	42	Walt Disney Co. (The), 0.450%, 12/01/15		42
				2,448
		Multiline Retail — 0.2%
		Kohl’s Corp.,
	40	4.000%, 11/01/21		43
	40	6.250%, 12/15/17		49
		Macy’s Retail Holdings, Inc.,
	37	2.875%, 02/15/23		37
	25	7.450%, 07/15/17		31
	35	Nordstrom, Inc., 4.000%, 10/15/21		39
	400	Target Corp., 6.000%, 01/15/18		496
				695
		Specialty Retail — 0.1%
	59	Gap, Inc. (The), 5.950%, 04/12/21		67
	130	Home Depot, Inc. (The), 5.400%, 03/01/16		150
	95	Staples, Inc., 9.750%, 01/15/14		104
				321
		Total Consumer Discretionary		4,086
		Consumer Staples — 0.9%
		Beverages — 0.3%
	75	Anheuser-Busch Cos. LLC, 5.500%, 01/15/18		91
	200	Anheuser-Busch InBev Worldwide, Inc., 7.750%, 01/15/19		269
		Coca-Cola Co. (The),
	100	3.625%, 03/15/14		104
	50	4.875%, 03/15/19		59
	70	Diageo Capital plc, (United Kingdom), 4.828%, 07/15/20		83
		Diageo Finance B.V., (Netherlands),
	30	5.300%, 10/28/15		34
	100	5.500%, 04/01/13		101
	85	FBG Finance Ltd., (Australia), 5.125%, 06/15/15 (e)		94
	30	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		30
		PepsiCo, Inc.,
	33	0.800%, 08/25/14		33
	180	1.250%, 08/13/17		182
	31	3.000%, 08/25/21		33
	6	7.900%, 11/01/18		9
	30	SABMiller plc, (United Kingdom), 6.500%, 07/01/16 (e)		35
				1,157
		Food & Staples Retailing — 0.1%
	85	Costco Wholesale Corp., 0.650%, 12/07/15		85
	55	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		67
		Kroger Co. (The),
	50	2.200%, 01/15/17		51

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Food & Staples Retailing — Continued
	30	6.150%, 01/15/20		37
	75	6.400%, 08/15/17		91
	50	7.500%, 01/15/14		54
	94	Walgreen Co., 3.100%, 09/15/22		96
				481
		Food Products — 0.4%
		Bunge Ltd. Finance Corp.,
	50	5.875%, 05/15/13		51
	135	8.500%, 06/15/19		175
	14	Bunge N.A. Finance LP, 5.900%, 04/01/17		16
		Cargill, Inc.,
	100	3.300%, 03/01/22 (e)		104
	106	4.307%, 05/14/21 (e)		118
	30	ConAgra Foods, Inc., 2.100%, 03/15/18		30
		Kellogg Co.,
	100	4.250%, 03/06/13		101
	200	5.125%, 12/03/12		200
		Kraft Foods Group, Inc.,
	52	5.375%, 02/10/20 (e)		63
	332	6.125%, 08/23/18 (e)		409
		Mondelez International, Inc.,
	48	5.375%, 02/10/20		58
	118	6.125%, 02/01/18		145
				1,470
		Household Products — 0.1%
	20	Kimberly-Clark Corp., 2.400%, 03/01/22		20
	73	Procter & Gamble - ESOP, 9.360%, 01/01/21		97
				117
		Total Consumer Staples		3,225
		Energy — 0.9%
		Energy Equipment & Services — 0.1%
	15	National Oilwell Varco, Inc., 1.350%, 12/01/17		15
	12	Noble Holding International Ltd., (Cayman Islands), 3.950%, 03/15/22		13
	47	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		51
		Transocean, Inc., (Cayman Islands),
	39	3.800%, 10/15/22		40
	35	6.375%, 12/15/21		42
	100	6.500%, 11/15/20		120
	33	Weatherford International Ltd., (Bermuda), 4.500%, 04/15/22		34
				315
		Oil, Gas & Consumable Fuels — 0.8%
		Apache Corp.,
	58	2.625%, 01/15/23		58
	57	3.250%, 04/15/22		61
	25	6.900%, 09/15/18		32
	150	Canadian Natural Resources Ltd., (Canada), 5.900%, 02/01/18		182
	21	Cenovus Energy, Inc., (Canada), 3.000%, 08/15/22		22
	150	ConocoPhillips, 5.750%, 02/01/19		186
	150	Devon Energy Corp., 1.875%, 05/15/17		153
	80	Encana Corp., (Canada), 6.500%, 05/15/19		99
	200	ENI S.p.A., (Italy), 4.150%, 10/01/20 (e)		207
		EOG Resources, Inc.,
	23	2.625%, 03/15/23		24
	100	4.100%, 02/01/21		115
		Marathon Oil Corp.,
	228	5.900%, 03/15/18		278
	175	6.000%, 10/01/17		213
	35	Occidental Petroleum Corp., 1.750%, 02/15/17		36
	40	PC Financial Partnership, 5.000%, 11/15/14		43
	90	Petrobras International Finance Co., (Cayman Islands), 5.375%, 01/27/21		101
	97	Petro-Canada, (Canada), 6.050%, 05/15/18		118
	43	Phillips 66, 2.950%, 05/01/17 (e)		46
		Shell International Finance B.V., (Netherlands),
	42	1.125%, 08/21/17		42
	55	1.875%, 03/25/13		55
	184	3.100%, 06/28/15		196
	55	4.000%, 03/21/14		57
	195	4.375%, 03/25/20		229
		Statoil ASA, (Norway),
	67	3.125%, 08/17/17		73
	83	3.150%, 01/23/22		88
	50	Talisman Energy, Inc., (Canada), 7.750%, 06/01/19		65
		Total Capital International S.A., (France),
	27	0.750%, 01/25/16		27
	44	1.500%, 02/17/17		45
	75	1.550%, 06/28/17		76

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Oil, Gas & Consumable Fuels — Continued
	175	Total Capital S.A., (France), 2.300%, 03/15/16		183
				3,110
		Total Energy		3,425
		Financials — 10.6%
		Capital Markets — 2.7%
		Bank of New York Mellon Corp. (The),
	250	2.950%, 06/18/15		264
	75	3.100%, 01/15/15		78
	75	4.600%, 01/15/20		87
		BlackRock, Inc.,
	325	3.500%, 12/10/14		344
	326	5.000%, 12/10/19		388
	150	Blackstone Holdings Finance Co. LLC, 5.875%, 03/15/21 (e)		169
	40	Charles Schwab Corp. (The), 3.225%, 09/01/22 (e)		40
		Goldman Sachs Group, Inc. (The),
	100	3.300%, 05/03/15		104
	255	3.625%, 02/07/16		270
	66	3.700%, 08/01/15		70
	68	5.375%, 03/15/20		78
	300	5.500%, 11/15/14		323
	80	5.750%, 01/24/22		95
	1,100	5.950%, 01/18/18		1,273
	250	7.500%, 02/15/19		314
		Jefferies Group, Inc.,
	111	3.875%, 11/09/15		113
	150	5.125%, 04/13/18		157
	125	8.500%, 07/15/19		147
		Macquarie Group Ltd., (Australia),
	150	6.000%, 01/14/20 (e)		163
	100	7.300%, 08/01/14 (e)		109
	40	7.625%, 08/13/19 (e)		47
		Merrill Lynch & Co., Inc.,
	200	5.000%, 01/15/15		214
	157	5.450%, 07/15/14		167
	50	6.150%, 04/25/13		51
	814	6.400%, 08/28/17		954
	266	6.875%, 04/25/18		320
		Morgan Stanley,
	104	4.000%, 07/24/15		109
	195	4.200%, 11/20/14		204
	800	5.300%, 03/01/13		809
	166	5.500%, 07/24/20		187
	100	5.500%, 07/28/21		114
	450	5.625%, 09/23/19		508
	100	5.750%, 01/25/21		114
	250	6.000%, 05/13/14		265
	100	6.625%, 04/01/18		117
	100	7.300%, 05/13/19		121
		Nomura Holdings, Inc., (Japan),
	85	4.125%, 01/19/16		89
	178	6.700%, 03/04/20		210
	45	Northern Trust Corp., 5.500%, 08/15/13		47
		UBS AG, (Switzerland),
	500	3.875%, 01/15/15		529
	100	5.750%, 04/25/18		119
	100	5.875%, 12/20/17		119
				10,000
		Commercial Banks — 3.6%
	100	ANZ National (International) Ltd., (New Zealand), 3.125%, 08/10/15 (e)		105
	250	Australia & New Zealand Banking Group Ltd., (Australia), 2.400%, 11/23/16 (e)		264
		Bank of America Corp.,
	100	5.000%, 05/13/21		115
	130	5.625%, 07/01/20		153
	300	5.650%, 05/01/18		348
	170	5.750%, 12/01/17		196
	50	5.875%, 01/05/21		60
	100	6.500%, 08/01/16		116
	125	7.375%, 05/15/14		136
	425	Bank of America N.A., 5.300%, 03/15/17		475
		Bank of Montreal, (Canada),
	250	1.300%, 10/31/14 (e)		254
	85	2.550%, 11/06/22		85
		Bank of Nova Scotia, (Canada),
	121	1.650%, 10/29/15 (e)		125
	175	2.550%, 01/12/17		185
	123	3.400%, 01/22/15		130
	136	Bank of Tokyo-Mitsubishi UFJ Ltd., (Japan), 3.850%, 01/22/15 (e)		144
		Barclays Bank plc, (United Kingdom),
	210	2.500%, 01/23/13		211
	200	2.500%, 09/21/15 (e)		209
	100	2.750%, 02/23/15		103
	200	5.200%, 07/10/14		213

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	250	6.050%, 12/04/17 (e)		274
		BB&T Corp.,
	70	3.375%, 09/25/13		71
	125	3.950%, 04/29/16		137
	100	4.900%, 06/30/17		114
	150	5.700%, 04/30/14		161
	152	Branch Banking & Trust Co., 4.875%, 01/15/13		153
	55	Comerica, Inc., 3.000%, 09/16/15		58
	250	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		262
	350	Fifth Third Bancorp, 5.450%, 01/15/17		395
		HSBC Holdings plc, (United Kingdom),
	196	4.000%, 03/30/22		215
	300	4.875%, 01/14/22		350
	250	HSBC USA, Inc., 2.375%, 02/13/15		257
	200	ING Bank N.V., (Netherlands), 3.750%, 03/07/17 (e)		213
	100	KeyCorp, 6.500%, 05/14/13		103
	263	Macquarie Bank Ltd., (Australia), 5.000%, 02/22/17 (e)		287
	300	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		365
		National Australia Bank Ltd., (Australia),
	100	2.500%, 01/08/13 (e)		100
	300	2.750%, 09/28/15 (e)		314
	100	3.750%, 03/02/15 (e)		106
		Nordea Bank AB, (Sweden),
	100	1.750%, 10/04/13 (e)		101
	300	3.125%, 03/20/17 (e)		319
		PNC Funding Corp.,
	133	4.375%, 08/11/20		153
	265	5.125%, 02/08/20		317
	110	5.250%, 11/15/15		123
	115	5.625%, 02/01/17		134
		Rabobank Nederland N.V., (Netherlands),
	250	3.200%, 03/11/15 (e)		262
	34	3.375%, 01/19/17		37
	118	3.875%, 02/08/22		128
	200	Royal Bank of Canada, (Canada), 2.300%, 07/20/16		209
		Toronto-Dominion Bank (The), (Canada),
	200	1.500%, 03/13/17 (e)		206
	235	2.200%, 07/29/15 (e)		245
		U.S. Bancorp,
	150	2.450%, 07/27/15		157
	208	2.875%, 11/20/14		218
	250	Wachovia Bank N.A., 6.000%, 11/15/17		301
		Wachovia Corp.,
	235	4.875%, 02/15/14		245
	850	5.750%, 02/01/18		1,024
		Wells Fargo & Co.,
	415	5.625%, 12/11/17		498
	500	SUB, 3.676%, 06/15/16		544
	315	Wells Fargo Bank N.A., 4.750%, 02/09/15		339
	285	Westpac Banking Corp., (Australia), 4.875%, 11/19/19		334
				13,456
		Consumer Finance — 0.9%
		American Express Credit Corp.,
	139	2.800%, 09/19/16		148
	200	7.300%, 08/20/13		209
		American Honda Finance Corp.,
	333	1.450%, 02/27/15 (e)		338
	200	2.125%, 02/28/17 (e)		206
	250	Capital One Bank USA N.A., 8.800%, 07/15/19		339
		Capital One Financial Corp.,
	100	6.750%, 09/15/17		123
	245	7.375%, 05/23/14		268
		Ford Motor Credit Co. LLC,
	200	3.000%, 06/12/17		204
	200	4.250%, 09/20/22		208
	200	HSBC Finance Corp., 5.250%, 01/15/14		209
		John Deere Capital Corp.,
	50	2.250%, 04/17/19		52
	33	3.150%, 10/15/21		35
	66	PACCAR Financial Corp., 1.600%, 03/15/17		67
	100	SLM Corp., 5.375%, 01/15/13		100
		Toyota Motor Credit Corp.,
	120	1.000%, 02/17/15		121
	225	1.750%, 05/22/17		232
	200	2.000%, 09/15/16		207
	100	2.050%, 01/12/17		104

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Consumer Finance — Continued
	154	3.200%, 06/17/15		164
	100	Volkswagen International Finance N.V., (Netherlands), 1.625%, 08/12/13 (e)		101
				3,435
		Diversified Financial Services — 1.6%
	161	Associates Corp. of North America, 6.950%, 11/01/18		195
		BP Capital Markets plc, (United Kingdom),
	20	1.375%, 11/06/17		20
	100	4.742%, 03/11/21		118
	300	5.250%, 11/07/13		313
		Caterpillar Financial Services Corp.,
	58	2.850%, 06/01/22		60
	100	5.500%, 03/15/16		115
	150	6.200%, 09/30/13		157
	65	7.050%, 10/01/18		84
	100	7.150%, 02/15/19		132
		Citigroup, Inc.,
	43	4.587%, 12/15/15		47
	125	4.750%, 05/19/15		135
	506	5.000%, 09/15/14		533
	54	5.375%, 08/09/20		64
	13	6.000%, 08/15/17		15
	285	6.010%, 01/15/15		312
	300	6.125%, 11/21/17		357
		CME Group, Inc.,
	110	5.400%, 08/01/13		114
	190	5.750%, 02/15/14		201
	190	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		225
		ERAC USA Finance LLC,
	48	2.750%, 03/15/17 (e)		50
	27	4.500%, 08/16/21 (e)		30
		General Electric Capital Corp.,
	220	4.375%, 09/16/20		247
	800	4.650%, 10/17/21		909
	500	5.400%, 02/15/17		578
	475	5.625%, 05/01/18		566
	500	5.650%, 06/09/14		536
	100	Textron Financial Corp., 5.400%, 04/28/13		102
				6,215
		Insurance — 1.3%
		ACE INA Holdings, Inc.,
	45	2.600%, 11/23/15		47
	50	5.600%, 05/15/15		56
		Aflac, Inc.,
	28	2.650%, 02/15/17		30
	32	4.000%, 02/15/22		35
	25	8.500%, 05/15/19		34
		American International Group, Inc.,
	385	4.250%, 05/15/13		391
	350	5.450%, 05/18/17		401
	45	Aon Corp., 3.500%, 09/30/15		48
	607	ASIF Global Financing XIX, 4.900%, 01/17/13 (e)		610
	150	Berkshire Hathaway Finance Corp., 5.400%, 05/15/18		181
		Berkshire Hathaway, Inc.,
	202	3.400%, 01/31/22		218
	98	3.750%, 08/15/21		109
	90	CNA Financial Corp., 5.875%, 08/15/20		106
	80	Jackson National Life Global Funding, 4.700%, 06/01/18 (e)		88
	37	Liberty Mutual Group, Inc., 4.950%, 05/01/22 (e)		40
	35	Lincoln National Corp., 4.200%, 03/15/22		37
		MassMutual Global Funding II,
	300	2.000%, 04/05/17 (e)		311
	100	2.300%, 09/28/15 (e)		104
	200	Metlife of Connecticut Global Funding I, 5.125%, 08/15/14 (e)		215
		Metropolitan Life Global Funding I,
	107	1.700%, 06/29/15 (e)		109
	200	2.500%, 09/29/15 (e)		209
	175	3.650%, 06/14/18 (e)		193
	100	3.875%, 04/11/22 (e)		109
	222	5.200%, 09/18/13 (e)		230
	50	Monumental Global Funding III, 5.500%, 04/22/13 (e)		51
		New York Life Global Funding,
	170	1.300%, 01/12/15 (e)		172
	125	3.000%, 05/04/15 (e)		132
	150	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		160
	200	Pricoa Global Funding I, 5.450%, 06/11/14 (e)		214
	16	Principal Financial Group, Inc., 1.850%, 11/15/17		16
	100	Principal Life Income Funding Trusts, 5.300%, 04/24/13		102

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Insurance — Continued
	150	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		204
	50	Travelers Property Casualty Corp., 5.000%, 03/15/13		51
				5,013
		Real Estate Investment Trusts (REITs) — 0.3%
		CommonWealth REIT,
	125	5.875%, 09/15/20		134
	150	6.650%, 01/15/18		169
	27	ERP Operating LP, 4.625%, 12/15/21		31
		HCP, Inc.,
	44	2.625%, 02/01/20		44
	8	3.750%, 02/01/19		8
	92	5.375%, 02/01/21		106
		Simon Property Group LP,
	81	4.125%, 12/01/21		91
	17	4.200%, 02/01/15		18
	40	4.375%, 03/01/21		46
	100	5.625%, 08/15/14		108
	50	5.650%, 02/01/20		60
	40	6.100%, 05/01/16		46
	50	6.125%, 05/30/18		62
	159	WEA Finance LLC/WT Finance Ltd., 6.750%, 09/02/19 (e)		197
				1,120
		Thrifts & Mortgage Finance — 0.2%
	25	Countrywide Financial Corp., 6.250%, 05/15/16		27
		Stadshypotek AB, (Sweden),
	523	1.450%, 09/30/13 (e)		527
	250	1.875%, 10/02/19 (e)		252
				806
		Total Financials		40,045
		Health Care — 0.5%
		Biotechnology — 0.2%
		Amgen, Inc.,
	400	3.875%, 11/15/21		441
	44	4.500%, 03/15/20		50
	40	5.700%, 02/01/19		48
	98	Celgene Corp., 3.250%, 08/15/22		101
				640
		Health Care Equipment & Supplies — 0.0% (g)
		Baxter International, Inc.,
	50	4.000%, 03/01/14		52
	50	4.625%, 03/15/15		54
	40	Becton Dickinson and Co., 5.000%, 05/15/19		48
				154
		Health Care Providers & Services — 0.1%
	17	McKesson Corp., 0.950%, 12/04/15		17
	50	Medco Health Solutions, Inc., 2.750%, 09/15/15		52
	112	UnitedHealth Group, Inc., 3.375%, 11/15/21		121
		WellPoint, Inc.,
	115	3.125%, 05/15/22		117
	27	5.875%, 06/15/17		32
	18	7.000%, 02/15/19		23
				362
		Pharmaceuticals — 0.2%
		AbbVie, Inc.,
	119	1.750%, 11/06/17 (e)		121
	87	2.900%, 11/06/22 (e)		89
	100	AstraZeneca plc, (United Kingdom), 5.400%, 06/01/14		107
	150	GlaxoSmithKline Capital, Inc., 5.650%, 05/15/18		184
		Merck & Co., Inc.,
	62	2.400%, 09/15/22		63
	75	6.000%, 09/15/17		92
				656
		Total Health Care		1,812
		Industrials — 1.0%
		Aerospace & Defense — 0.1%
	70	BAE Systems Holdings, Inc., 6.375%, 06/01/19 (e)		84
	100	Honeywell International, Inc., 5.300%, 03/01/18		121
	47	Lockheed Martin Corp., 2.125%, 09/15/16		49
	50	United Technologies Corp., 6.125%, 02/01/19		63
				317
		Airlines — 0.0% (g)
	82	American Airlines, 2011-2 Class A Pass-Through Trust, 8.625%, 10/15/21		83
	37	Continental Airlines, 1999-2 Class C-2 Pass-Through Trust, 7.256%, 03/15/20		40

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Airlines — Continued
	70	Delta Air Lines, 2010-2 Class A Pass-Through Trust, Series 2A, 4.950%, 05/23/19		76
				199
		Commercial Services & Supplies — 0.1%
	70	ADT Corp. (The), 3.500%, 07/15/22 (e)		70
		Pitney Bowes, Inc.,
	125	4.875%, 08/15/14		131
	100	5.000%, 03/15/15		104
	50	5.600%, 03/15/18		53
	60	Waste Management, Inc., 7.375%, 03/11/19		77
				435
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	32	1.625%, 05/08/17		33
	41	2.875%, 05/08/22		42
	70	Fluor Corp., 3.375%, 09/15/21		75
				150
		Industrial Conglomerates — 0.1%
	152	Koninklijke Philips Electronics N.V., (Netherlands), 3.750%, 03/15/22		168
	100	Siemens Financieringsmaatschappij N.V., (Netherlands), 5.750%, 10/17/16 (e)		117
	27	Turlock Corp., 1.500%, 11/02/17 (e)		27
				312
		Machinery — 0.1%
		Caterpillar, Inc.,
	74	1.500%, 06/26/17		75
	31	2.600%, 06/26/22		32
	89	Deere & Co., 2.600%, 06/08/22		91
	50	Eaton Corp., 5.600%, 05/15/18		60
	25	Parker Hannifin Corp., 5.500%, 05/15/18		30
				288
		Road & Rail — 0.6%
		Burlington Northern Santa Fe LLC,
	43	3.050%, 03/15/22		45
	32	3.450%, 09/15/21		35
	19	3.600%, 09/01/20		21
	100	5.650%, 05/01/17		119
	100	7.000%, 02/01/14		107
		CSX Corp.,
	30	6.250%, 04/01/15		34
	30	7.375%, 02/01/19		38
	50	7.900%, 05/01/17		63
	615	Federal Express Corp. 1998 Pass-Through Trust, 6.720%, 01/15/22		738
		Norfolk Southern Corp.,
	138	3.250%, 12/01/21		146
	50	7.700%, 05/15/17		63
		Ryder System, Inc.,
	48	2.500%, 03/01/17		49
	55	3.600%, 03/01/16		58
		Union Pacific Corp.,
	21	2.950%, 01/15/23		22
	233	4.163%, 07/15/22		266
	100	4.875%, 01/15/15		108
	82	5.650%, 05/01/17		97
	115	United Parcel Service of America, Inc., 8.375%, 04/01/20		160
				2,169
		Total Industrials		3,870
		Information Technology — 0.7%
		Computers & Peripherals — 0.3%
		Hewlett-Packard Co.,
	208	2.600%, 09/15/17		198
	195	4.375%, 09/15/21		185
	87	4.650%, 12/09/21		84
	325	5.400%, 03/01/17		345
	200	6.125%, 03/01/14		209
				1,021
		Electronic Equipment, Instruments & Components — 0.0% (g)
		Arrow Electronics, Inc.,
	55	3.375%, 11/01/15		57
	120	6.875%, 07/01/13		124
				181
		IT Services — 0.2%
		International Business Machines Corp.,
	126	1.250%, 02/06/17		127
	100	1.875%, 05/15/19		104
	150	5.700%, 09/14/17		182
	200	7.625%, 10/15/18		269
				682
		Office Electronics — 0.0% (g)
		Xerox Corp.,
	39	2.950%, 03/15/17		40
	50	5.625%, 12/15/19		56

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Office Electronics — Continued
	40	6.750%, 02/01/17		47
				143
		Semiconductors & Semiconductor Equipment — 0.0% (g)
	30	National Semiconductor Corp., 6.600%, 06/15/17		37
	73	Texas Instruments, Inc., 1.650%, 08/03/19		74
				111
		Software — 0.2%
	25	Intuit, Inc., 5.750%, 03/15/17		29
		Microsoft Corp.,
	23	0.875%, 11/15/17		23
	120	1.625%, 09/25/15		123
	34	2.125%, 11/15/22		34
		Oracle Corp.,
	200	5.250%, 01/15/16		227
	100	5.750%, 04/15/18		123
				559
		Total Information Technology		2,697
		Materials — 0.5%
		Chemicals — 0.3%
	100	Air Products & Chemicals, Inc., 4.150%, 02/01/13		101
		Dow Chemical Co. (The),
	61	4.125%, 11/15/21		66
	38	4.250%, 11/15/20		42
	60	7.600%, 05/15/14		66
	40	8.550%, 05/15/19		54
		E.l. du Pont de Nemours & Co.,
	101	1.950%, 01/15/16		105
	50	4.125%, 03/06/13		50
	100	6.000%, 07/15/18		125
	34	Mosaic Co. (The), 3.750%, 11/15/21		37
	100	Potash Corp. of Saskatchewan, Inc., (Canada), 4.875%, 03/01/13		101
	230	Praxair, Inc., 4.625%, 03/30/15		251
	150	Union Carbide Corp., 7.500%, 06/01/25		185
				1,183
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	37	1.000%, 02/24/15		37
	100	5.400%, 03/29/17		117
	100	6.500%, 04/01/19		129
	128	Freeport-McMoRan Copper & Gold, Inc., 2.150%, 03/01/17		131
		Rio Tinto Finance USA Ltd., (Australia),
	27	3.500%, 11/02/20		29
	50	8.950%, 05/01/14		55
	58	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		59
				557
		Total Materials		1,740
		Telecommunication Services — 0.9%
		Diversified Telecommunication Services — 0.8%
		AT&T, Inc.,
	100	4.450%, 05/15/21		116
	135	5.100%, 09/15/14		146
	150	5.500%, 02/01/18		180
	165	BellSouth Corp., 5.200%, 09/15/14		178
	77	BellSouth Telecommunications, Inc., 6.300%, 12/15/15		82
	100	British Telecommunications plc, (United Kingdom), 5.950%, 01/15/18		120
	61	France Telecom S.A., (France), 2.750%, 09/14/16		64
	500	GTE Corp., 6.840%, 04/15/18		633
	27	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		27
	148	Qwest Corp., 6.750%, 12/01/21		174
		Telecom Italia Capital S.A., (Luxembourg),
	280	4.950%, 09/30/14		290
	225	5.250%, 11/15/13		231
		Telefonica Emisiones S.A.U., (Spain),
	275	5.855%, 02/04/13		276
	30	5.877%, 07/15/19		32
	100	Verizon Communications, Inc., 5.500%, 02/15/18		121
	250	Verizon Maryland, Inc., 7.150%, 05/01/23		255
	100	Verizon New England, Inc., 4.750%, 10/01/13		103
				3,028
		Wireless Telecommunication Services — 0.1%
	150	Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14		158
	40	Crown Castle Towers LLC, 3.214%, 08/15/15 (e)		42
		Vodafone Group plc, (United Kingdom),
	100	1.625%, 03/20/17		102

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Wireless Telecommunication Services — Continued
	125	5.000%, 09/15/15		139
				441
		Total Telecommunication Services		3,469
		Utilities — 1.3%
		Electric Utilities — 0.9%
	27	American Electric Power Co., Inc., 1.650%, 12/15/17		27
	43	Baltimore Gas & Electric Co., 2.800%, 08/15/22		44
		Carolina Power & Light Co.,
	40	2.800%, 05/15/22		42
	233	5.125%, 09/15/13		241
	150	5.300%, 01/15/19		182
	50	Cleveland Electric Illuminating Co. (The), 7.880%, 11/01/17		63
	30	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		36
	50	Consumers Energy Co., 5.650%, 04/15/20		63
	20	Detroit Edison Co. (The), 2.650%, 06/15/22		21
	60	Duke Energy Indiana, Inc., 3.750%, 07/15/20		67
	100	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		104
	72	Exelon Generation Co. LLC, 4.000%, 10/01/20		77
	40	Georgia Power Co., 6.000%, 11/01/13		42
	135	Indiana Michigan Power Co., 7.000%, 03/15/19		172
	25	Jersey Central Power & Light Co., 7.350%, 02/01/19		32
	10	Kiowa Power Partners LLC, 4.811%, 12/30/13 (e)		10
	60	Nevada Power Co., 7.125%, 03/15/19		78
		NextEra Energy Capital Holdings, Inc.,
	25	1.200%, 06/01/15		25
	150	7.875%, 12/15/15		180
	40	Niagara Mohawk Power Corp., 4.881%, 08/15/19 (e)		47
	180	Nisource Finance Corp., 4.450%, 12/01/21		201
	25	Ohio Power Co., 6.050%, 05/01/18		30
	50	Oncor Electric Delivery Co. LLC, 6.800%, 09/01/18		62
		Pacific Gas & Electric Co.,
	68	2.450%, 08/15/22		68
	125	5.625%, 11/30/17		153
		PacifiCorp,
	100	3.850%, 06/15/21		113
	60	5.650%, 07/15/18		74
	75	Peco Energy Co., 5.350%, 03/01/18		91
	51	Public Service Co. of Colorado, 3.200%, 11/15/20		56
	74	Public Service Co. of Oklahoma, 4.400%, 02/01/21		85
	200	Public Service Electric & Gas Co., 6.330%, 11/01/13		210
		Southern Co.,
	45	1.950%, 09/01/16		47
	40	4.150%, 05/15/14		42
	30	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		41
		Spectra Energy Capital LLC,
	100	5.500%, 03/01/14		105
	30	5.668%, 08/15/14		32
	140	6.200%, 04/15/18		171
	50	8.000%, 10/01/19		66
	100	Virginia Electric and Power Co., 5.400%, 04/30/18		122
				3,322
		Gas Utilities — 0.2%
		AGL Capital Corp.,
	94	3.500%, 09/15/21		103
	50	4.450%, 04/15/13		51
	100	6.375%, 07/15/16		118
	30	Atmos Energy Corp., 8.500%, 03/15/19		41
	50	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		60
		TransCanada PipeLines Ltd., (Canada),
	100	4.000%, 06/15/13		102
	100	6.500%, 08/15/18		127
	30	7.125%, 01/15/19		39
				641
		Independent Power Producers & Energy Traders — 0.0% (g)
	150	PPL Energy Supply LLC, 4.600%, 12/15/21		164
		Multi-Utilities — 0.2%
	150	Dominion Resources, Inc., 8.875%, 01/15/19		205
	50	PG&E Corp., 5.750%, 04/01/14		53

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
			Multi-Utilities — Continued
			Sempra Energy,
	80		8.900%, 11/15/13		86
	150		9.800%, 02/15/19		210
			Wisconsin Electric Power Co.,
	30		6.000%, 04/01/14		32
	100		6.250%, 12/01/15		117
					703
			Water Utilities — 0.0% (g)
	200		American Water Capital Corp., 6.085%, 10/15/17		238
			Total Utilities		5,068
			Total Corporate Bonds (Cost $63,371)		69,437
	Foreign Government Securities — 1.1%
			Israel Government AID Bond, (Israel),
	1,000		Zero Coupon, 08/15/17		953
	1,000		Zero Coupon, 08/15/18		932
	1,557		Zero Coupon, 08/15/20		1,367
	100		Province of Manitoba, (Canada), 2.125%, 04/22/13		101
			Province of Ontario, (Canada),
	400		0.950%, 05/26/15		405
	250		2.700%, 06/16/15		264
	300		2.950%, 02/05/15		316
			Total Foreign Government Securities (Cost $4,115)		4,338
	Mortgage Pass-Through Securities — 10.5%
			Federal Home Loan Mortgage Corp.,
	45		ARM, 2.171%, 01/01/27		48
	15		ARM, 2.250%, 07/01/26		15
	149		ARM, 2.415%, 01/01/37		159
	307		ARM, 2.471%, 08/01/36		328
	454		ARM, 2.703%, 12/01/34		485
	250		ARM, 2.704%, 03/01/37		270
	136		ARM, 2.871%, 09/01/36		144
	216		ARM, 2.935%, 09/01/36		232
	120		ARM, 3.282%, 02/01/37		128
	211		ARM, 3.479%, 04/01/38		225
	368		ARM, 6.045%, 06/01/36		394
	122		ARM, 6.489%, 11/01/36		130
			Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	196		4.000%, 06/01/19		208
	51		4.500%, 10/01/18		55
	355		5.500%, 06/01/17 - 01/01/24		385
	156		6.000%, 10/01/17 - 04/01/18		160
	510		6.500%, 01/01/17 - 03/01/22		546
	7		7.000%, 01/01/17		7
	–	(h)	7.500%, 10/01/14		—	(h)
			Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	15		6.000%, 12/01/22		17
	78		6.500%, 12/01/13 - 08/01/26		87
			Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	93		6.000%, 01/01/34		104
	147		7.000%, 04/01/26 - 02/01/37		170
	8		7.500%, 08/01/25		9
	9		8.000%, 07/01/20 - 11/01/24		11
	27		8.500%, 07/01/28		33
	500		Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		591
			Federal Home Loan Mortgage Corp. Gold Pools, Other,
	494		3.500%, 06/01/42		536
	496		4.000%, 06/01/42		553
	401		6.000%, 02/01/33		439
			Federal Home Loan Mortgage Corp., 30 Year, Single Family,
	2		12.000%, 08/01/15 - 07/01/19		2
			Federal National Mortgage Association,
	6		ARM, 1.879%, 03/01/19		6
	79		ARM, 2.213%, 02/01/37		83
	215		ARM, 2.220%, 01/01/35		229
	213		ARM, 2.285%, 09/01/35		227
	304		ARM, 2.286%, 02/01/35		323
	201		ARM, 2.295%, 08/01/34		214
	256		ARM, 2.357%, 01/01/35		270
	200		ARM, 2.366%, 04/01/35		213
	162		ARM, 2.407%, 04/01/33		171
	118		ARM, 2.460%, 08/01/35		125
	120		ARM, 2.500%, 11/01/33		127
	208		ARM, 2.529%, 10/01/34		222
	175		ARM, 2.608%, 02/01/35		187
	1		ARM, 2.624%, 08/01/19		1
	242		ARM, 2.655%, 09/01/35		260
	350		ARM, 2.726%, 09/01/34		375
	227		ARM, 2.780%, 02/01/37		240
	93		ARM, 2.922%, 08/01/36		99
	254		ARM, 2.935%, 09/01/33		272

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
	18		ARM, 2.942%, 09/01/27		19
	161		ARM, 2.945%, 07/01/46		173
	350		ARM, 3.217%, 02/01/36		372
	16		ARM, 3.821%, 03/01/29		17
	146		ARM, 6.187%, 09/01/36		157
			Federal National Mortgage Association, 15 Year, Single Family,
	87		4.000%, 05/01/19		93
	887		4.500%, 05/01/18 - 05/01/19		962
	607		5.000%, 12/01/16 - 04/01/19		669
	387		5.500%, 01/01/20 - 06/01/20		419
	524		6.000%, 03/01/21 - 01/01/24		571
	91		6.500%, 05/01/13 - 08/01/20		99
			Federal National Mortgage Association, 20 Year, Single Family,
	127		6.000%, 04/01/24		139
	169		6.500%, 05/01/22		190
			Federal National Mortgage Association, 30 Year, FHA/VA,
	20		6.000%, 09/01/33		22
	34		6.500%, 03/01/29		41
	15		8.500%, 02/01/30		18
	14		9.000%, 09/01/19 - 12/01/30		14
	8		9.500%, 12/01/18		9
			Federal National Mortgage Association, 30 Year, Single Family,
	145		4.500%, 08/01/33		157
	1,711		5.000%, 07/01/33 - 08/01/40		1,910
	1,920		5.500%, 09/01/33 - 02/01/38		2,114
	982		6.000%, 12/01/32 - 09/01/37		1,100
	59		6.500%, 08/01/31		67
	11		7.000%, 09/01/27 - 08/01/32		13
	18		7.500%, 11/01/22 - 05/01/25		21
	590		8.000%, 03/01/21 - 11/01/32		733
	10		8.500%, 07/01/24 - 06/01/25		12
	–	(h)	9.000%, 04/01/26		—	(h)
	4		10.000%, 02/01/24		4
	1		12.500%, 01/01/16		2
			Federal National Mortgage Association, Other,
	984		2.004%, 01/01/17		1,010
	1,000		2.056%, 01/01/17		1,017
	2,900		2.970%, 11/01/18		3,151
	2,426		3.590%, 12/01/20		2,716
	1,000		3.658%, 10/01/20		1,116
	475		4.291%, 06/01/21		559
	1,075		4.298%, 03/01/21		1,247
	1,977		4.380%, 01/01/21 - 04/01/21		2,321
	500		4.390%, 05/01/21		589
	800		4.443%, 04/01/21		936
	953		4.500%, 03/01/20		1,107
	301		5.500%, 04/01/38		324
	392		6.000%, 03/01/37		422
			Government National Mortgage Association II, 30 Year, Single Family,
	670		6.000%, 03/20/28 - 09/20/38		752
	15		7.500%, 02/20/28 - 09/20/28		18
	41		8.000%, 12/20/25 - 08/20/28		50
	25		8.500%, 03/20/25 - 05/20/25		31
			Government National Mortgage Association, 15 Year, Single Family,
	35		6.000%, 10/15/17		37
	15		8.000%, 01/15/16		16
			Government National Mortgage Association, 30 Year, Single Family,
	463		6.000%, 11/15/28 - 12/15/38		526
	406		6.500%, 01/15/24 - 12/15/35		468
	379		7.000%, 08/15/23 - 06/15/35		443
	31		7.500%, 11/15/22 - 09/15/28		37
	7		8.000%, 05/15/22 - 08/15/28		8
	6		8.500%, 11/15/17		6
	12		9.000%, 08/15/16 - 11/15/24		13
	227		9.500%, 09/15/18 - 12/15/25		260
	4		12.000%, 11/15/19		4
			Total Mortgage Pass-Through Securities (Cost $36,843)		39,416
	Supranational — 0.1%
	150		African Development Bank, 8.800%, 09/01/19		202
	40		Corp. Andina de Fomento, 5.200%, 05/21/13		41
			Total Supranational (Cost $242)		243
	U.S. Government Agency Securities — 2.2%
	323		Federal Farm Credit Banks, 5.125%, 11/15/18		398
			Federal National Mortgage Association,
	1,300		Zero Coupon, 07/05/14		1,283
	1,000		Zero Coupon, 06/01/17		961
	800		5.000%, 05/11/17		953
	500		Federal National Mortgage Association STRIPS, 11/15/21		412

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Government Agency Securities — Continued
		Financing Corp. Fico,
	500	Zero Coupon, 04/05/19		455
	584	Zero Coupon, 09/26/19		524
	1,000	Government Trust Certificate, Zero Coupon, 10/01/15		965
		Residual Funding Corp. STRIPS,
	250	Zero Coupon, 10/15/19		228
	800	Zero Coupon, 07/15/20		713
	1,000	Tennessee Valley Authority, 5.500%, 07/18/17		1,218
	333	Tennessee Valley Authority STRIPS, Zero Coupon, 05/01/19		299
		Total U.S. Government Agency Securities (Cost $7,845)		8,409
	U.S. Treasury Obligations — 33.7%
		U.S. Treasury Bonds,
	1,225	7.500%, 11/15/16		1,562
	320	8.500%, 02/15/20		487
	250	8.750%, 05/15/20		388
	250	8.750%, 08/15/20		391
	3,000	8.875%, 08/15/17		4,157
	835	11.250%, 02/15/15		1,036
		U.S. Treasury Inflation Indexed Notes,
	1,700	0.500%, 04/15/15		1,893
	300	0.625%, 04/15/13		328
	700	1.125%, 01/15/21		876
	500	1.250%, 04/15/14		563
	250	2.000%, 01/15/14		323
		U.S. Treasury Notes,
	300	0.250%, 10/31/13		300
	500	0.500%, 10/15/13		501
	500	0.625%, 12/31/12		500
	1,000	1.375%, 01/15/13		1,002
	400	1.375%, 12/31/18		413
	5,500	1.500%, 08/31/18		5,721
	500	1.750%, 04/15/13		503
	300	1.750%, 01/31/14		305
	1,500	1.750%, 10/31/18		1,582
	500	1.875%, 02/28/14		510
	1,100	1.875%, 04/30/14		1,125
	1,500	2.125%, 12/31/15		1,581
	1,500	2.250%, 07/31/18		1,624
	200	2.625%, 08/15/20		222
	400	2.625%, 11/15/20		443
	1,500	2.750%, 10/31/13		1,535
	1,500	2.750%, 11/30/16		1,635
	1,755	2.750%, 05/31/17		1,928
	3,000	2.750%, 12/31/17		3,318
	300	3.125%, 04/30/13		304
	1,000	3.125%, 04/30/17		1,113
	7,900	3.250%, 12/31/16		8,784
	1,000	3.250%, 03/31/17		1,117
	800	3.375%, 07/31/13		817
	1,050	3.500%, 02/15/18		1,202
	1,550	3.500%, 05/15/20		1,816
	700	4.000%, 02/15/15		757
	300	4.250%, 08/15/13		309
	200	4.500%, 02/15/16		226
	1,000	4.750%, 08/15/17		1,194
		U.S. Treasury STRIPS,
	202	11/15/13		202
	800	02/15/14 (m)		798
	4,566	05/15/14 (m)		4,550
	1,500	08/15/14 (m)		1,493
	3,518	11/15/14 (m)		3,499
	3,325	02/15/15		3,303
	32	08/15/15		32
	4,952	11/15/15 (m)		4,899
	5,766	02/15/16 (m)		5,695
	1,072	05/15/16		1,057
	2,505	08/15/16		2,463
	700	11/15/16		686
	1,224	02/15/17		1,196
	4,446	08/15/17		4,317
	1,960	11/15/17		1,896
	2,200	02/15/18		2,118
	700	05/15/18		671
	495	05/15/19		465
	4,350	08/15/19		4,063
	2,000	02/15/20		1,842
	13,948	05/15/20		12,760
	150	05/15/20		138
	12,550	08/15/20		11,406
	1,650	05/15/21		1,464
	100	08/15/21		88
	1,350	11/15/21		1,179
	100	08/15/26		73

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Treasury Obligations — Continued
	300	11/15/26		217
		Total U.S. Treasury Obligations (Cost $117,914)		126,961
SHARES
	Short-Term Investment — 2.7%
		Investment Company — 2.7%
	10,225	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.110% (b) (l) (Cost $10,225)		10,225
		Total Investments — 99.7% (Cost $349,093)		375,580
		Other Assets in Excess of Liabilities — 0.3%		1,079
		NET ASSETS — 100.0%	$	376,659

Percentages indicated are based on net assets.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

ARM	—	Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of November 30, 2012.
CMO	—	Collateralized Mortgage Obligation
ESOP	—	Employee Stock Ownership Program
FHA	—	Federal Housing Administration
GMAC	—	General Motors Acceptance Corp.
HB	—	High Coupon Bonds (a.k.a. “IOettes”) represent the right to receive interest payments on an underlying pool of mortgages with similar features as those associated with IO securities. Unlike IO’s, the owner also has a right to receive a very small portion of principal. The high interest rates result from taking interest payments from other classes in the Real Estate Mortgage Investment Conduit trust and allocating them to the small principal of the HB class.
IF	—	Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index. The interest rate shown is the rate in effect as of November 30, 2012. The rate may be subject to a cap and floor.
IO	—	Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.
PO	—	Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases.
REMICS	—	Real Estate Mortgage Investment Conduits
STRIPS	—	Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.
SUB	—	Step-Up Bond. The interest rate shown is the rate in effect as of November 30, 2012.
VA	—	Veterans Administration
VAR	—	Variable Rate Security. The interest rate shown is the rate in effect as of November 30, 2012.
(b)	—	Investment in affiliate. Money market fund registered under the Investment Company Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc.
(e)	—	Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)	—	Amount rounds to less than 0.1%.
(h)	—	Amount rounds to less than one thousand (shares or dollars).
(i)	—	Security has been deemed illiquid pursuant to procedures approved by the Board of Trustees and may be difficult to sell.
(l)	—	The rate shown is the current yield as of November 30, 2012.
(m)	—	All or a portion of this security is reserved and/or pledged with the custodian for current or potential holdings of futures, swaps, options, TBAs, when-issued securities, delayed delivery securities, reverse repurchase agreements, unfunded commitments and/or forward foreign currency exchange contracts.

As of November 30, 2012, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$  27,021
Aggregate gross unrealized depreciation	(534)
Net unrealized appreciation/depreciation	$  26,487
Federal income tax cost of investments	$349,093

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

A. Security Valuations—Fixed income securities (other than certain short-term investments maturing in less than 61 days) are valued each day based on prices received from independent or affiliated pricing services approved by the Board of Trustees or third party broker-dealers. The broker-dealers or pricing services use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the broker-dealers or pricing services may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the broker-dealers or pricing services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining value and/ or market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon-rates, anticipated timing of principal repayments, underlying collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair values. Equity securities listed on a North American, Central American, South American or Caribbean securities exchange shall generally be valued at the last sale price on the exchange on which the security is principally traded that is reported before the time when the net assets of the Fund are valued. Securities listed on The NASDAQ Stock Market LLC are generally valued at the NASDAQ Official Closing Price.

Generally, short-term investments of sufficient credit quality maturing in less than 61 days are valued at amortized cost, which approximates market value. Certain investments of the Fund may, depending upon market conditions, trade in relatively thin markets and/or in markets that experience significant volatility. As a result of these conditions, the prices used by the Fund to value securities may differ from the value that would be realized if these securities were sold, and the differences could be material. Futures and options are generally valued on the basis of available market quotations. Swaps and other derivatives are valued daily, primarily using independent or affiliated pricing services approved by the Board of Trustees. If valuations are not available from such services or values received are deemed not representative of market value, values will be obtained from a third party broker-dealer or counterparty. Investments in other open-end investment companies are valued at each investment company’s net asset value per share as of the report date.

Securities or other assets for which market quotations are not readily available or for which market quotations do not represent the fair value of the security or asset at the time of pricing (including certain illiquid securities) are fair valued in accordance with procedures established by and under the supervision and responsibility of the Board of Trustees. The Board of Trustees has established an Audit and Valuation Committee to assist with the oversight of the valuation of the Fund’s securities. JPMorgan Funds Management, Inc. (the “Administrator”, or “JPMFM”), an indirect, wholly-owned subsidiary of JPMorgan Chase & Co. (“JPMorgan”), has established a Valuation Committee (“VC”) that is comprised of senior representatives from JPMFM, J.P. Morgan Investment Management Inc. (“JPMIM” or the “Advisor”), a wholly-owned subsidiary of JPMorgan Asset Management Holdings Inc. (“JPMAM”), which is a wholly-owned subsidiary of JPMorgan, JPMAM’s Legal and Compliance, JPMAM’s Risk Management and the Fund’s Chief Compliance Officer. The VC’s responsibilities include making determinations regarding Level 3 fair value measurements (“Fair Values”) and/or providing recommendations for approval to the Board of Trustees’ Audit and Valuation Committee, in accordance with the Fund’s valuation policies.

The VC or Board of Trustees, as applicable, primarily employ a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information for the investment to determine the fair value of the investment. The VC or Board of Trustees may also use an income-based valuation approach in which the anticipated future cash flows of the investment are discounted to calculate 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. JPMFM and JPMIM are responsible for monitoring developments that may impact Fair Values and for discussing and assessing Fair Values on an ongoing and at least a quarterly basis with the VC and Board of Trustees, as applicable. The appropriateness of Fair Values is assessed based on results of unchanged price review and consideration of macro or security specific events, back testing and broker and vendor due diligence.

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 fair value of the Fund’s investments are summarized into the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own 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 aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

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
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	11,894	$	3,752		$	15,646
Collateralized Mortgage Obligations
Agency CMO		—		74,460		682			75,142
Non-Agency CMO		—		18,350		1,729			20,079
Total Collateralized Mortgage Obligations		—		92,810		2,411			95,221
Commercial Mortgage-Backed Securities		—		4,287		1,397			5,684
Corporate Bonds
Consumer Discretionary		—		4,086		—			4,086
Consumer Staples		—		3,225		—			3,225
Energy		—		3,425		—			3,425
Financials		—		40,045		—			40,045
Health Care		—		1,812		—			1,812
Industrials		—		2,933		937			3,870
Information Technology		—		2,697		—			2,697
Materials		—		1,740		—			1,740
Telecommunication Services		—		3,469		—			3,469
Utilities		—		5,068		—			5,068
Total Corporate Bonds		—		68,500		937			69,437
Foreign Government Securities		—		4,338		—			4,338
Mortgage Pass-Through Securities		—		39,416		—			39,416
Supranational		—		243		—			243
U.S. Government Agency Securities		—		8,409		—			8,409
U.S. Treasury Obligations		—		126,961		—			126,961
Short-Term Investment
Investment Company		10,225		—		—			10,225
Total Investments in Securities	$	10,225	$	356,858	$	8,497	*	$	375,580

* Level 3 securities are valued by brokers. At November 30, 2012, the value of these securities was approximately $8,497,000. The inputs for these securities are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A. The appropriateness of fair values for these securities is based on results of back testing and unchanged price review and may also include but not limited to results of broker due diligence and consideration of macro or security specific events.

There were no transfers between Levels 1 and 2 during the period ended November 30, 2012.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2012 (Unaudited) (continued)

(Amounts in thousands)

The following is a summary of investments for which significant unobservable inputs (Level 3) were used in determining fair value (amounts in thousands):

JPMorgan Intermediate Bond Trust	Balance as of 02/29/12		Realized gain (loss)		Change in unrealized appreciation (depreciation)		Net accretion (amortization)			Purchases1		Sales2			Transfers into Level 3		Transfers out of Level 3		Balance as of 11/30/12
Investments in Securities
Asset-Backed Securities	$	334	$	—	$	16	$	—	(a)	$	3,916	$	(1,182	)	$	668		—	$	3,752
Collateralized Mortgage Obligations
Agency CMO		—		—		1		—	(a)		504		(27	)		204		—		682
Non-Agency CMO		632		—		2,931		(226	)		1,269		(3,297	)		420		—		1,729
Commercial Mortgage-Backed Securities		—		—		7		—	(a)		1,394		(225	)		221		—		1,397
Corporate Bonds - Industrials		—		—		4		(3	)		—		(12	)		948		—		937
	$	966	$	—	$	2,959	$	(229	)	$	7,083	$	(4,743	)	$	2,461	$	—	$	8,497

¹  Purchases include all purchases of securities and securities received in corporate actions.

² Sales include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

(a) Amount rounds to less than $1,000.

Transfers into, and out of, Level 3 are valued using values as of the beginning of the period.

Transfers from Level 2 to Level 3 or from Level 3 to Level 2 are due to a decline or an increase in market activity (e.g. frequency of trades), which resulted in a lack of or increase in available market inputs to determine price.

The change in unrealized appreciation (depreciation) attributable to securities owned at November 30, 2012, which were valued using significant unobservable inputs (Level 3), amounted to approximately $2,961,000.

ITEM 2. CONTROLS AND PROCEDURES.

(a) The Registrant’s principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal controls over financial reporting.

ITEM 3. EXHIBITS.

CERTIFICATIONS PURSUANT TO RULE 30a-2(a) UNDER THE INVESTMENT COMPANY ACT OF 1940 ARE ATTACHED HERETO.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

JPMorgan Institutional Trust

By:	/s/ Patricia A. Maleski
	Patricia A. Maleski
	President and Principal Executive Officer
	January 29, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Patricia A. Maleski
	Patricia A. Maleski
	President and Principal Executive Officer
	January 29, 2013

By:	/s/ Joy C. Dowd
	Joy C. Dowd
	Treasurer and Principal Financial Officer
	January 29, 2013