N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-21638

JPMorgan Institutional Trust

(Exact name of registrant as specified in charter)

270 Park Avenue

New York, NY 10017

(Address of principal executive offices) (Zip code)

Frank J. Nasta

270 Park Avenue

New York, NY 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: March 1, 2013 through August 31, 2013

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Section 3507.

ITEM 1. REPORTS TO STOCKHOLDERS.

The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).

Semi-Annual Report

JPMorgan Institutional Trust Funds

August 31, 2013 (Unaudited)

JPMorgan Core Bond Trust

JPMorgan Equity Index Trust

JPMorgan Intermediate Bond Trust

CONTENTS

CEO’s Letter	1
Market Overview	2
Fund Commentaries:
JPMorgan Core Bond Trust	3
JPMorgan Equity Index Trust	5
JPMorgan Intermediate Bond Trust	7
Schedules of Portfolio Investments	9
Financial Statements	88
Financial Highlights	92
Notes to Financial Statements	94
Schedule of Shareholder Expenses	104
Board Approval of Investment Advisory Agreements	105

Investments in a Fund are not bank deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money if you sell when the Fund’s share price is lower than when you invested.

Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets. References to specific securities and their issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. Such views are not meant as investment advice and may not be relied on as an indication of trading intent on behalf of any Fund.

This report is intended for distribution only to accredited investors. Distribution of this document to anyone other than the intended user is expressly prohibited. This document may not be copied, faxed or otherwise distributed to the general public.

CEO’S LETTER

September 30, 2013 (Unaudited)

Dear Shareholder:

While market volatility was elevated at times, developed market equities, in aggregate, posted strong returns for the six months ended August 31, 2013. For much of the period, stocks were supported by solid corporate earnings and robust demand from investors looking to generate higher returns in the low interest rate environment. Despite signaling a potential policy shift, the U.S. Federal Reserve (“Fed”) continued to pursue its highly accommodative policies in an attempt to lower unemployment and spur the economy. Central banks overseas also did their part to support their economies. The European Central Bank (“ECB”) remained committed to preserving the euro, as it cut rates and introduced new programs designed to aid struggling euro zone members. Elsewhere, the Bank of Japan embarked on a major asset purchase program as a new pro-growth government came into power late in 2012.

  “Despite signaling a potential policy shift, the U.S. Federal Reserve continued to pursue its highly accommodative policies.”

Positive investor sentiment was interrupted, however, in June 2013 when Fed Chairman Bernanke indicated that the central bank may begin to “taper” its asset purchase program later this year. This triggered a sharp decline in global equities, although they quickly regained their footing and rallied sharply in July. The market again declined in August, however, given uncertainties surrounding Fed policy and potential military action in Syria. Despite these periodic setbacks, U.S. stocks rose sharply during the six months ended August 31, 2013. Overseas, developed international stocks produced more modest gains, while emerging market equities performed poorly given concerns regarding China’s economy and rising U.S. interest rates.

U.S. Treasury Yields Rise Sharply

Talk of Fed tapering negatively impacted the fixed income markets. While U.S. Treasury security yields continue to be low from a historical perspective, they ended the period sharply higher than when the reporting period began. The yield for 10-year U.S. Treasury securities ended August 31, 2013 at 2.78%,

while the yields for 2- and 30-year U.S. Treasury securities finished the reporting period at 0.39% and 3.70%, respectively. Amid the rising interest rate environment, the overall U.S. fixed income market generated a negative return for the reporting period. High yield bonds (also known as junk bonds), in contrast, posted a modest gain, whereas emerging market debt securities fell sharply.

Diversification and a Long-term Focus Remain Paramount

While the global economy is far from robust, it is still on a growth path. While the Fed chose to delay the tapering of its asset purchase program at its mid-September meeting (after the reporting period ended), the expansion in the U.S. appears to be sustainable. In addition, recent data shows that Europe has emerged from its lengthy recession. Elsewhere, pro-growth initiatives in Japan have thus far yielded positive results. While growth in China has moderated, we believe the government has the tools at its disposal to avoid a “hard landing.”

We are encouraged by the stock market’s resiliency in the face of recent volatility. In addition, there have been signs that equity market correlations are decreasing, which could create a more favorable environment for active managers. Also, given the recent sell-off in the bond market, valuations in a number of fixed income sectors have become more attractive.

As recent market volatility has demonstrated, it is critically important to have a diversified investment portfolio that is allocated among a number of asset classes. Maintaining a long-term focus for your investment portfolio is also key, as market volatility can be elevated at times given the uncertain economic and geopolitical environment.

On behalf of everyone at J.P. Morgan Asset Management, thank you for your continued support. We look forward to managing your investment needs for years to come.

Sincerely yours,

George C.W. Gatch

CEO, Global Funds Management

J.P. Morgan Asset Management

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 1

JPMorgan Institutional Trust Funds

MARKET OVERVIEW

SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited)

The fixed income market experienced periods of heightened volatility during the six-month reporting period ended August 31, 2013. This was triggered by a number of factors, including uncertainties surrounding future Federal Reserve Board (“Fed”) monetary policy, mixed economic data, geopolitical issues and several periods of investor risk aversion. The spread sectors (non-U.S. Treasury securities) initially performed well, as investors sought to generate incremental yield in the low interest rate environment. However, as the reporting period progressed, the spread sectors, along with U.S. government securities, performed poorly. This change in direction began in May, as Fed Chairman Bernanke said that the central bank may begin to taper its asset purchase program later this year. This caused U.S. Treasury yields to move sharply higher and negatively impacted the overall fixed income market (Treasury yields and bond prices generally move in the opposite direction).

While the overall U.S. equity market was also volatile at times, it generated strong results for the six months ended August 31, 2013. Supporting the market were overall solid corporate profits, continued economic growth and generally solid investor demand. From an economic perspective, the U.S. housing market showed signs of rebounding and there was some improvement in the labor market. During the second half of the reporting period, U.S. equities were negatively impacted by concerns related to the Fed’s asset purchase tapering. However, this was not enough to offset the market’s strong return over the first half of the period. All told, the S&P 500 Index gained 8.95% for the six months ended August 31, 2013.

2 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

JPMorgan Core Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited)

REPORTING PERIOD RETURN:
Fund*		-2.06%
Barclays U.S. Aggregate Index		-2.61%
Net Assets as of 8/31/2013 (In Thousands)	$	3,806,986
Duration as of 8/31/2013		4.8 years

INVESTMENT OBJECTIVE**

The JPMorgan Core Bond Trust (the “Fund”) seeks to maximize total return by investing primarily in a diversified portfolio of intermediate- and long-term debt securities.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

The six months ended August 31, 2013 presented a challenging environment for the fixed income market, as interest rates for U.S. Treasury securities rose sharply across the yield curve (the yield curve shows the relationship between yields and maturity dates for a set of similar bonds at a given point in time). Rates moved higher given signs of improving economic activity and indications from the Federal Reserve Board (the “Fed”) that it may start to taper its asset purchase program. The reporting period was also challenging for the Fund, as it posted a negative absolute return. However, the Fund outperformed the Barclays U.S. Aggregate Index (the “Benchmark”) for the reporting period.

During the six months ended August 31, 2013, the Fund’s duration was shorter than that of the Benchmark, which contributed to relative performance. Duration is used to measure the price sensitivity of a bond or a portfolio of bonds to relative changes in interest rates. Generally, bonds with longer duration will experience a larger increase or decrease in price as interest rates go down or up, respectively, versus bonds with shorter duration. Also contributing to relative performance were the Fund’s security selection and underweight position relative to the Benchmark in the investment grade corporate bond sector. Elsewhere, an out-of-Benchmark allocation to agency collateralized mortgage obligations was also beneficial given the sector’s outperformance versus the Benchmark.

Detracting from relative performance during the reporting period was the Fund’s yield curve positioning. Specifically, the Fund was overweight the five-to-ten-year portion of the curve, which saw the greatest rise in rates. The Fund’s modest out-

of-Benchmark position in Treasury Inflation-Protected Securities (“TIPS”) was also detrimental to relative performance as TIPS performed poorly during the reporting period.

HOW WAS THE FUND POSITIONED?

The Fund continued to focus on security selection and relative value, which seeks to exploit pricing discrepancies between individual securities or market sectors. The Fund’s portfolio managers used bottom-up fundamental research to construct, in their view, a portfolio of undervalued fixed income securities. As of the end of the reporting period, the Fund was underweight U.S. Treasuries and overweight mortgage-backed securities. The Fund was overweight the intermediate part of the yield curve (5-10 years) and underweight the front (1-5 years) and long (20-30 years) segments of the yield curve.

PORTFOLIO COMPOSITION***
Collateralized Mortgage Obligations	26.5	%
U.S. Treasury Obligations	24.6
Corporate Bonds	18.5
Mortgage Pass-Through Securities	15.0
Asset-Backed Securities	5.1
Commercial Mortgage-Backed Securities	3.8
U.S. Government Agency Securities	2.2
Foreign Government Securities	1.1
Others (each less than 1.0%)	0.7
Short-Term Investment	2.5

* The return shown is based on net asset values calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.

** The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

*** Percentages indicated are based on total investments as of August 31, 2013. The Fund’s portfolio composition is subject to change.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 3

JPMorgan Core Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited) (continued)

AVERAGE ANNUAL TOTAL RETURNS AS OF AUGUST 31, 2013
	INCEPTION DATE OF CLASS	6 MONTH*	1 YEAR			3 YEAR			5 YEAR			SINCE INCEPTION
	2/07/05	(2.06)%		(1.14	)%		3.90	%		6.83	%		5.70	%

* Not annualized.

LIFE OF FUND PERFORMANCE (2/7/05 TO 8/31/13)

Source: Lipper, Inc. The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown.

The Fund commenced operations on February 7, 2005.

The graph illustrates comparative performance for $10,000,000 invested in the JPMorgan Core Bond Trust, the Barclays U.S. Aggregate Index and the Lipper Intermediate U.S. Government Funds Index from February 7, 2005 to August 31, 2013. The performance of the Lipper Intermediate U.S. Government Funds Index reflects an initial investment at the end of the month closest to the Fund’s inception. The performance of the Fund assumes reinvestment of all dividends and capital gain distributions, if any, and does not include a sales charge. The performance of the Barclays U.S. Aggregate Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the benchmark, if applicable. The performance of the Lipper Intermediate U.S. Government Funds Index includes expenses associated with a

mutual fund, such as investment management fees. These expenses are not identical to the expenses incurred by the Fund. The Barclays U.S. Aggregate Index is an unmanaged index that represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. The Lipper Intermediate U.S. Government Funds Index is an index based on total returns of certain mutual funds within the Fund’s designated category as determined by Lipper, Inc. Investors cannot invest directly in an index.

The Fund’s shares have a $10,000,000 minimum investment.

Fund performance may reflect the waiver of the Fund’s fees and reimbursement of expenses for certain periods since the inception date. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemptions of Fund shares.

The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.

4 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

JPMorgan Equity Index Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited)

REPORTING PERIOD RETURN:
JPMorgan Equity Index Trust*		8.89%
S&P 500 Index**		8.95%
Net Assets as of 8/31/2013 (In Thousands)	$	332,539

INVESTMENT OBJECTIVE***

The JPMorgan Equity Index Trust (the “Fund”) seeks investment results that correspond to the aggregate price and dividend performance of securities in the Standard & Poor’s 500 Composite Stock Price Index (S&P 500 Index).

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

The Fund performed in line with the aggregate price and dividend performance of the S&P 500 Index (the “Benchmark”) for the six months ended August 31, 2013. This was consistent with its indexing strategy and investment objective, as the Fund looks to generate returns that are comparable to that of the securities in the Benchmark.

The benchmark reached an all-time high during the reporting period, despite growing concern that the U.S. Federal Reserve might begin curtailing its accommodative policies. This worry, combined with signs that the U.S. economy was strengthening, pushed interest rates higher. Those signs of economic strength were evident in the healing labor market, as well as the strengthening housing and auto sectors. The U.S. economy, as measured by Gross Domestic Product (“GDP”) grew at an annual pace of 1.1% between January and March 2013, and 2.5% (second estimate) between April and June, 2013. The Benchmark finished the reporting period with an 8.95% gain.

All ten sectors in the Benchmark posted a positive return for the six-month period. The consumer discretionary and health care sectors generated the strongest returns, while the telecommunication services and utilities sectors posted the weakest results for the reporting period.

HOW WAS THE FUND POSITIONED?

Regardless of the market outlook, the Fund was managed in conformity with a full index replication strategy and aimed to hold the same stocks in nearly the same proportions as those found in the Benchmark.

TOP TEN EQUITY HOLDINGS OF THE PORTFOLIO****
	1.	Apple, Inc.	3.1	%
	2.	Exxon Mobil Corp.	2.6
	3.	Microsoft Corp.	1.7
	4.	Johnson & Johnson	1.7
	5.	General Electric Co.	1.6
	6.	Chevron Corp.	1.6
	7.	Google, Inc., Class A	1.5
	8.	Procter & Gamble Co. (The)	1.5
	9.	Berkshire Hathaway, Inc., Class B	1.4
	10.	Wells Fargo & Co.	1.4

PORTFOLIO COMPOSITION BY SECTOR****
Information Technology	17.9	%
Financials	16.2
Health Care	12.8
Consumer Discretionary	12.1
Energy	10.5
Industrials	10.2
Consumer Staples	10.1
Materials	3.4
Utilities	3.2
Telecommunication Services	2.5
Exchange Traded Fund	0.1
Short-Term Investments	1.0

* The return shown is based on net asset values calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.

** “S&P 500 Index” is a registered service mark of Standard & Poor’s Corporation, which does not sponsor, and is in no way affiliated with the Fund.

*** The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

**** Percentages indicated are based on total investments as of August 31, 2013. The Fund’s portfolio composition is subject to change.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 5

JPMorgan Equity Index Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited) (continued)

AVERAGE ANNUAL TOTAL RETURNS AS OF AUGUST 31, 2013
	INCEPTION DATE OF CLASS		6 MONTH*			1 YEAR			3 YEAR			5 YEAR			SINCE INCEPTION
		2/07/05		8.89	%		18.55	%		18.23	%		7.16	%		5.71	%

* Not annualized.

LIFE OF FUND PERFORMANCE (2/7/05 TO 8/31/13)

The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown.

The Fund commenced operations on February 7, 2005.

The graph illustrates comparative performance for $10,000,000 invested in the JPMorgan Equity Index Trust, the S&P 500 Index and the Lipper S&P 500 Objective Funds Index from February 7, 2005 to August 31, 2013. The performance of the Lipper S&P 500 Objective Funds Index reflects an initial investment at the end of the month closest to the Fund’s inception. The performance of the Fund assumes reinvestment of all dividends and capital gain distributions, if any, and does not include a sales charge. The performance of the S&P 500 Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the benchmark, if applicable. The performance of the Lipper S&P 500 Objective Funds Index includes

expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses incurred by the Fund. The S&P 500 Index is an unmanaged index generally representative of the performance of large companies in the U.S. Stock Market. Index levels are based on total return U.S. dollars. The Lipper S&P 500 Objective Funds Index is an index based on total returns of certain mutual funds within the Fund’s designated category as determined by Lipper, Inc. Investors cannot invest directly in an index.

The Fund’s shares have a $10,000,000 minimum investment.

Fund performance may reflect the waiver of the Fund’s fees and reimbursement of expenses for certain periods since the inception date. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemptions of Fund shares.

The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.

6 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

JPMorgan Intermediate Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited)

REPORTING PERIOD RETURN:
Fund*		-1.50%
Barclays Intermediate U.S. Government/Credit Index		-1.75%
Net Assets as of 8/31/2013 (In Thousands)	$	372,448
Duration as of 8/31/2013		3.7 years

INVESTMENT OBJECTIVE**

The JPMorgan Intermediate Bond Trust (the “Fund”) seeks current income consistent with the preservation of capital by investing in high- and medium-grade fixed income securities with intermediate maturities.

WHAT WERE THE MAIN DRIVERS OF THE FUND’S PERFORMANCE?

The six months ended August 31, 2013 presented a challenging environment for the fixed income market, as interest rates for U.S. Treasury securities rose sharply across the yield curve (the yield curve shows the relationship between yields and maturity dates for a set of similar bonds at a given point in time). Rates moved higher given signs of improving economic activity and indications from the Federal Reserve Board (the “Fed”) that it may start to taper its asset purchase program. The reporting period was also challenging for the Fund, as it posted a negative absolute return. However, the Fund outperformed the Barclays Intermediate U.S. Government/Credit Index (the “Benchmark”) for the reporting period.

The Fund’s outperformance versus the Benchmark was partially driven by its shorter duration relative to that of the Benchmark. Duration is used to measure the price sensitivity of a bond or a portfolio of bonds to relative changes in interest rates. Generally, bonds with longer duration will experience a larger increase or decrease in price as interest rates go down or up, respectively, versus bonds with shorter duration. Also benefiting the Fund’s relative performance was its allocation to mortgage-backed securities (“MBS”), which are not represented in the Benchmark. This was a positive for results as MBS outperformed the Benchmark, partially due to the improving U.S. real estate market and continued accommodative Fed policies.

Detracting from relative performance during the reporting period was the Fund’s yield curve positioning. Specifically, the Fund was underweight the short end of the curve, which outperformed, and overweight the 20-year portion of the curve as

intermediate- and longer-term rates rose. The Fund’s modest out-of-Benchmark position in Treasury Inflation-Protected Securities (“TIPS”) was also detrimental to relative performance as the sector performed poorly during the reporting period.

HOW WAS THE FUND POSITIONED?

The Fund continued to focus on security selection and relative value, which seeks to exploit pricing discrepancies between individual securities or market sectors. The Fund’s portfolio managers used bottom-up fundamental research to construct, in their view, a portfolio of undervalued fixed income securities. As of the end of the reporting period, the Fund was underweight U.S. Treasuries and the credit sector. The Fund was also slightly underweight the intermediate part (5-10 years) of the yield curve.

PORTFOLIO COMPOSITION***
U.S. Treasury Obligations	34.8	%
Collateralized Mortgage Obligations	22.5
Corporate Bonds	17.4
Mortgage Pass-Through Securities	11.2
Asset-Backed Securities	3.8
U.S. Government Agency Securities	2.8
Commercial Mortgage-Backed Securities	1.9
Others (each less than 1.0%)	0.8
Short-Term Investment	4.8

* The return shown is based on net asset values calculated for shareholder transactions and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.

** The advisor seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved.

*** Percentages indicated are based on total investments as of August 31, 2013. The Fund’s portfolio composition is subject to change.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 7

JPMorgan Intermediate Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited) (continued)

AVERAGE ANNUAL TOTAL RETURNS AS OF AUGUST 31, 2013
	INCEPTION DATE OF CLASS		6 MONTH*			1 YEAR			3 YEAR			5 YEAR			SINCE INCEPTION
		2/07/05		(1.50	)%		(0.65	)%		3.37	%		5.81	%		5.19	%

* Not annualized.

LIFE OF FUND PERFORMANCE (2/7/05 TO 8/31/13)

Source: Lipper, Inc. The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown.

The Fund commenced operations on February 7, 2005.

The graph illustrates comparative performance for $5,000,000 invested in the JPMorgan Intermediate Bond Trust, the Barclays Intermediate U.S. Government/Credit Index and the Lipper Short-Intermediate U.S. Government Funds Index from February 7, 2005 to August 31, 2013. The performance of the Lipper Short-Intermediate U.S. Government Funds Index reflects an initial investment at the end of the month closest to the Fund’s inception. The performance of the Fund assumes reinvestment of all dividends and capital gain distributions, if any, and does not include a sales charge. The performance of the Barclays Intermediate U.S. Government/Credit Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the benchmark, if applicable. The performance of the Lipper Short-

Intermediate U.S. Government Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses incurred by the Fund. The Barclays Intermediate U.S. Government/Credit Index is an unmanaged index comprised of intermediate maturity U.S. Treasury and agency securities and investment grade corporate securities. The Lipper Short-Intermediate U.S. Government Funds Index is an index based on total returns of certain mutual funds within the Fund’s designated category as determined by Lipper, Inc. Investors cannot invest directly in an index.

The Fund’s shares have a $5,000,000 minimum investment.

Fund performance may reflect the waiver of the Fund’s fees and reimbursement of expenses for certain periods since the inception date. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemptions of Fund shares.

The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.

8 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — 5.0%
	1,677	Academic Loan Funding Trust, Series 2012-1A, Class A1, VAR, 0.984%, 12/27/22 (e)		1,693
		Ally Auto Receivables Trust,
	556	Series 2010-3, Class A4, 1.550%, 08/17/15		558
	34	Series 2011-1, Class A3, 1.380%, 01/15/15		35
	1,359	Series 2012-1, Class A3, 0.930%, 02/16/16		1,363
	980	Series 2012-2, Class A3, 0.740%, 04/15/16		981
	411	Series 2012-3, Class A2, 0.700%, 01/15/15		411
	1,123	Series 2012-3, Class A3, 0.850%, 08/15/16		1,125
	962	Series 2012-4, Class A2, 0.480%, 05/15/15		962
	1,476	Series 2012-5, Class A2, 0.450%, 07/15/15		1,475
		American Credit Acceptance Receivables Trust,
	372	Series 2012-1, Class A2, 3.040%, 10/15/15 (e)		375
	888	Series 2012-3, Class A, 1.640%, 11/15/16 (e)		887
	1,692	Series 2013-1, Class A, 1.450%, 04/16/18 (e)		1,689
	1,198	Series 2013-2, Class A, 1.320%, 02/15/17 (e)		1,198
		AmeriCredit Automobile Receivables Trust,
	81	Series 2011-1, Class A3, 1.390%, 09/08/15		81
	1,222	Series 2011-4, Class A3, 1.170%, 05/09/16		1,225
	1,195	Series 2011-5, Class A3, 1.550%, 07/08/16		1,201
	278	Series 2012-1, Class A2, 0.910%, 10/08/15		278
	235	Series 2012-1, Class A3, 1.230%, 09/08/16		236
	123	Series 2012-2, Class A3, 1.050%, 10/11/16		124
	298	Series 2012-3, Class A2, 0.710%, 12/08/15		298
	361	Series 2012-3, Class A3, 0.960%, 01/09/17		362
	259	Series 2012-4, Class A2, 0.490%, 04/08/16		259
	814	Series 2012-5, Class A2, 0.510%, 01/08/16		814
	290	Series 2012-5, Class A3, 0.620%, 06/08/17		289
	1,527	Series 2013-4, Class A2, 0.740%, 11/08/16		1,527
	497	Ascentium Equipment Receivables LLC, Series 2012-1A, Class A, 1.830%, 09/15/19 (e)		497
	589	Bank of America Auto Trust, Series 2012-1, Class A3, 0.780%, 06/15/16		590
	3,397	Bayview Opportunity Master Fund IIa Trust, Series 2013-8NPL, Class A, VAR, 3.228%, 03/28/33 (e)		3,391
	575	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.554%, 04/25/36		535
	622	BMW Vehicle Lease Trust, Series 2012-1, Class A3, 0.750%, 02/20/15		623
	1,196	BXG Receivables Note Trust, Series 2012-A, Class A, 2.660%, 12/02/27 (e)		1,177

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	700	Cabela’s Master Credit Card Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		701
	1,440	California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		1,437
	1,500	Capital Auto Receivables Asset Trust, Series 2013-3, Class A1B, VAR, 0.614%, 11/20/15		1,500
		CarMax Auto Owner Trust,
	366	Series 2011-1, Class A3, 1.290%, 09/15/15		367
	885	Series 2011-1, Class A4, 2.160%, 09/15/16		899
	1,217	Series 2011-3, Class A3, 1.070%, 06/15/16		1,221
	270	Series 2012-3, Class A2, 0.430%, 09/15/15		270
	1,860	Carnow Auto Receivables Trust, Series 2013-1A, Class A, 1.160%, 10/16/17 (e)		1,858
	469	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		488
	757	CFC LLC, Series 2013-1A, Class A, 1.650%, 07/17/17 (e)		755
	1,533	Chase Funding Trust, Series 2003-6, Class 1A7, SUB, 4.277%, 11/25/34		1,547
	800	Citibank Credit Card Issuance Trust, Series 2007-A3, Class A3, 6.150%, 06/15/39		919
	1,115	Citigroup Mortgage Loan Trust, Series 2011-5, Class 1A1, VAR, 0.374%, 02/25/46 (e)		1,042
	401	Citigroup Mortgage Loan Trust, Inc., Series 2003-HE3, Class A, VAR, 0.564%, 12/25/33		377
		CNH Equipment Trust,
	74	Series 2010-C, Class A3, 1.170%, 05/15/15		74
	278	Series 2011-A, Class A3, 1.200%, 05/16/16		279
	747	Series 2011-A, Class A4, 2.040%, 10/17/16		758
	852	Series 2012-A, Class A3, 0.940%, 05/15/17		854
	579	Series 2012-C, Class A2, 0.440%, 02/16/16		579
		Concord Funding Co. LLC,
	2,800	Series 2012-2, Class A, 3.145%, 01/15/17 (e)		2,800
	1,650	Series 2013-1, Class A, 2.420%, 02/15/15 (e)		1,606
	1,742	Conix Mortgage Asset Trust, Series 2013-1, Class A, VAR, 4.704%, 12/25/47 (e) (i)		1,710
	832	Countrywide Asset-Backed Certificates, Series 2004-6, Class M1, VAR, 0.784%, 10/25/34		711
		CPS Auto Receivables Trust,
	955	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		982
	491	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		499

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 9

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — Continued
	2,801	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		2,832
		CPS Auto Trust,
	1,619	Series 2012-C, Class A, 1.820%, 12/16/19 (e)		1,626
	255	Series 2012-D, Class A, 1.480%, 03/16/20 (e)		255
		Credit Acceptance Auto Loan Trust,
	1,300	Series 2011-1, Class A, 2.610%, 03/15/19 (e)		1,311
	565	Series 2012-1A, Class A, 2.200%, 09/16/19 (e)		571
	1,512	Series 2012-2A, Class A, 1.520%, 03/16/20 (e)		1,515
	813	Discover Card Execution Note Trust, Series 2012-A1, Class A1, 0.810%, 08/15/17		816
		Exeter Automobile Receivables Trust,
	916	Series 2012-2A, Class A, 1.300%, 06/15/17 (e)		917
	1,300	Series 2013-1A, Class A, 1.290%, 10/16/17 (e)		1,294
	349	Fifth Third Auto Trust, Series 2013-1, Class A3, 0.880%, 10/16/17		349
	115	First Franklin Mortgage Loan Trust, Series 2006-FF17, Class A4, VAR, 0.284%, 12/25/36		113
	702	First Investors Auto Owner Trust, Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		706
	1,641	Flagship Credit Auto Trust, Series 2013-1, Class A, 1.320%, 04/16/18 (e)		1,637
		Ford Credit Auto Owner Trust,
	1,505	Series 2012-A, Class A3, 0.840%, 08/15/16		1,507
	600	Series 2012-B, Class A3, 0.720%, 12/15/16		601
	586	Series 2012-D, Class A2, 0.400%, 09/15/15		586
	659	Series 2012-D, Class A3, 0.510%, 04/15/17		659
	669	Ford Credit Floorplan Master Owner Trust, Series 2013-1, Class A2, VAR, 0.564%, 01/15/18		669
		Freedom Trust,
	27	Series 2011-1, Class A13, VAR, 0.350%, 11/30/37 (e) (i)		27
	950	Series 2011-2, Class A11, VAR, 3.459%, 08/01/46 (e)		977
	326	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		315
		GE Equipment Midticket LLC,
	800	Series 2012-1, Class A3, 0.600%, 05/23/16		799

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	360		Series 2012-1, Class A4, 0.780%, 09/22/20		358
	459		GE Equipment Transportation LLC, Series 2012-2, Class A2, 0.470%, 04/24/15		458
			HLSS Servicer Advance Receivables Backed Notes,
	1,954		Series 2012-T2, Class A1, 1.340%, 10/15/43 (e)		1,955
	1,560		Series 2012-T2, Class A2, 1.990%, 10/15/45 (e)		1,568
	1,607		Series 2013-T1, Class A1, 0.898%, 01/15/44 (e)		1,606
	1,197		Series 2013-T1, Class A2, 1.495%, 01/16/46 (e)		1,187
	497		Series 2013-T1, Class B2, 1.744%, 01/16/46 (e)		493
	1,162		Series 2013-T2, Class A2, 1.147%, 05/16/44 (e)		1,155
	211		Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-A, Class A3, VAR, 0.384%, 03/25/36		153
			Honda Auto Receivables Owner Trust,
	550		Series 2011-1, Class A4, 1.800%, 04/17/17		554
	388		Series 2012-1, Class A4, 0.970%, 04/16/18		390
	413		Series 2012-2, Class A3, 0.700%, 02/16/16		413
	284		Series 2013-1, Class A2, 0.350%, 06/22/15		284
			HSBC Home Equity Loan Trust USA,
	933		Series 2006-1, Class A1, VAR, 0.344%, 01/20/36		908
	1,742		Series 2007-3, Class APT, VAR, 1.384%, 11/20/36		1,735
			Huntington Auto Trust,
	641		Series 2011-1A, Class A3, 1.010%, 01/15/16 (e)		642
	1,000		Series 2011-1A, Class A4, 1.310%, 11/15/16 (e)		1,010
	692		Series 2012-1, Class A3, 0.810%, 09/15/16		693
	—	(h)	Series 2012-2, Class A2, 0.380%, 09/15/15		—	(h)
			Hyundai Auto Receivables Trust,
	78		Series 2010-B, Class A3, 0.970%, 04/15/15		78
	710		Series 2010-B, Class A4, 1.630%, 03/15/17		718
	111		Series 2011-A, Class A3, 1.160%, 04/15/15		111
	520		Series 2011-A, Class A4, 1.780%, 12/15/15		525
	339		Series 2011-B, Class A3, 1.040%, 09/15/15		340
	824		Series 2011-B, Class A4, 1.650%, 02/15/17		833
	1,000		Series 2013-A, Class A2, 0.400%, 12/15/15		1,000
			John Deere Owner Trust,
	160		Series 2011-A, Class A3, 1.290%, 01/15/16		161
	355		Series 2011-A, Class A4, 1.960%, 04/16/18		358

SEE NOTES TO FINANCIAL STATEMENTS.

10 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — Continued
	616		Series 2012-B, Class A2, 0.430%, 02/17/15		616
	581		Series 2012-B, Class A4, 0.690%, 01/15/19		578
	14,451		KGS-Alpha Capital Markets LP, Series 2013-2, VAR, 1.295%, 03/25/39		894
	2,000		Kondaur Mortgage Asset Trust, Series 2013-1, Class A, VAR, 4.458%, 08/25/25 (e)		2,055
	36		LAI Vehicle Lease Securitization Trust, Series 2010-A, Class A, 2.550%, 09/15/16 (e) (i)		36
	717		Lake Country Mortgage Loan Trust, Series 2006-HE1, Class A3, VAR, 0.534%, 07/25/34 (e)		708
			Long Beach Mortgage Loan Trust,
	—	(h)	Series 2006-8, Class 2A2, VAR, 0.274%, 09/25/36		—
	545		Series 2006-WL2, Class 2A3, VAR, 0.384%, 01/25/36		491
	3,381		LV Tower 52 Issuer LLC, Series 2013-1, Class A, 5.500%, 06/15/18 (i)		3,381
	2,420		Macquarie Equipment Funding Trust, Series 2012-A, Class A2, 0.610%, 04/20/15 (e)		2,413
	1,186		Madison Avenue Manufactured Housing Contract, Series 2002-A, Class M2, VAR, 2.434%, 03/25/32		1,185
	250		Mercedes-Benz Auto Receivables Trust, Series 2012-1, Class A2, 0.370%, 03/16/15		250
	1,136		Mid-State Capital Corp. Trust, Series 2006-1, Class M1, 6.083%, 10/15/40 (e)		1,127
	3,100		MMCA Auto Owner Trust, Series 2012-A, Class A4, 1.570%, 08/15/17 (e)		3,116
			Nationstar Agency Advance Funding Trust,
	1,078		Series 2013-T1A, Class AT1, 0.997%, 02/15/45 (e)		1,069
	439		Series 2013-T2A, Class AT2, 1.892%, 02/18/48 (e)		422
	216		Series 2013-T2A, Class BT2, 2.487%, 02/18/48 (e)		211
	2,300		Nationstar Mortgage Advance Receivable Trust, Series 2013-T2A, Class A2, 1.679%, 06/20/46 (e)		2,297
	929		NCUA Guaranteed Notes Trust, Series 2010-A1, Class A, VAR, 0.535%, 12/07/20		930
	1,000		New Century Home Equity Loan Trust, Series 2003-5, Class AI6, SUB, 5.292%, 11/25/33		1,018
	324		Newcastle Investment Trust, Series 2011-MH1, Class A, 2.450%, 12/10/33 (e)		328
	793		Nissan Auto Lease Trust, Series 2012-B, Class A2A, 0.450%, 06/15/15		793
			Nissan Auto Receivables Owner Trust,
	443		Series 2010-A, Class A4, 1.310%, 09/15/16		445

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	333	Series 2012-A, Class A4, 1.000%, 07/16/18		334
	6,060	Normandy Mortgage Loan Trust, Series 2013-NPL3, Class A, 4.949%, 09/16/43 (e)		6,060
	1,500	NYMT Residential LLC, Series 2012-RP1A, VAR, 4.250%, 12/25/17 (e) (i)		1,500
	1,572	Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-MCW1, Class M1, VAR, 1.122%, 10/25/34		1,546
	643	PennyMac Loan Trust, Series 2012-NPL1, Class A, VAR, 3.422%, 05/28/52 (e) (i)		635
	1,000	Progreso Receivables Funding I LLC, Series 2013-A, 4.000%, 07/09/18 (e)		997
	2,953	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.484%, 03/25/36		2,756
	40	Real Estate Asset Trust, Series 2011-2A, Class A1, 5.750%, 05/25/49 (e) (i)		40
	298	Renaissance Home Equity Loan Trust, Series 2007-2, Class AF2, SUB, 5.675%, 06/25/37		160
	1,717	Residential Credit Solutions Trust, Series 2011-1, Class A1, 6.000%, 03/25/41 (e) (i)		1,717
		Resort Finance Timeshare Receivables Trust,
	301	Series 2012-1, Class A1, SUB, 6.250%, 07/05/18 (i)		301
	1,111	Series 2012-2, 5.750%, 09/05/18 (i)		1,111
	1,290	RMAT, Series 2012-1A, Class A1, VAR, 2.734%, 08/26/52 (e) (i)		1,296
		Santander Drive Auto Receivables Trust,
	700	Series 2010-A, Class A4, 2.390%, 06/15/17 (e)		708
	450	Series 2011-1, Class B, 2.350%, 11/16/15		453
	186	Series 2011-S2A, Class B, 2.060%, 06/15/17 (e)		186
	215	Series 2011-S2A, Class D, 3.350%, 06/15/17 (e)		216
	333	Series 2012-1, Class A2, 1.250%, 04/15/15		333
	411	Series 2012-1, Class A3, 1.490%, 10/15/15		412
	192	Series 2012-2, Class A2, 0.910%, 05/15/15		192
	427	Series 2012-2, Class A3, 1.220%, 12/15/15		428
	269	Series 2012-3, Class A3, 1.080%, 04/15/16		270
	360	Series 2012-6, Class A2, 0.470%, 09/15/15		360
	333	Series 2012-6, Class A3, 0.620%, 07/15/16		333
	526	Saxon Asset Securities Trust, Series 2003-1, Class AF6, SUB, 4.795%, 06/25/33		535
	313	Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.846%, 01/25/36		196
		SNAAC Auto Receivables Trust,
	238	Series 2012-1A, Class A, 1.780%, 06/15/16 (e)		239

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 11

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — Continued
	406	Series 2013-1A, Class A, 1.140%, 07/16/18 (e)		406
	5,336	SpringCastle America Funding LLC, Series 2013-1A, Class A, 4.000%, 04/03/21 (e)		5,283
		Springleaf Funding Trust,
	9,200	Series 2013-AA, Class A, 2.580%, 09/15/21 (e)		9,115
	3,000	Series 2013-BA, Class A, 3.920%, 01/16/23 (e)		2,995
	2,000	Series 2013-BA, Class B, 4.820%, 01/16/23 (e)		1,961
		Stanwich Mortgage Loan Co. LLC,
	2,786	Series 2012-NPL4, Class A, 2.981%, 09/15/42 (e)		2,789
	3,578	Series 2012-NPL5, Class A, 2.981%, 10/16/42 (e)		3,589
	1,956	Series 2013-NPL2, Class A, 3.228%, 04/16/59 (e)		1,954
	3,580	Stanwich Mortgage Loan Trust, Series 2013-NPL1, Class A, 2.981%, 02/16/43 (e)		3,589
	3,500	Station Place Securitization Trust, Series 2013-1, VAR, 1.502%, 02/25/15		3,500
	96	Structured Asset Investment Loan Trust, Series 2005-5, Class A9, VAR, 0.589%, 06/25/35		96
	270	Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2002-23XS, Class A7, SUB, 6.580%, 11/25/32		290
		Toyota Auto Receivables Owner Trust,
	236	Series 2011-A, Class A3, 0.980%, 10/15/14		236
	1,540	Series 2011-A, Class A4, 1.560%, 05/15/15		1,549
	3,844	Trafigura Securitisation Finance plc, (Ireland), Series 2012-1A, Class A, VAR, 2.584%, 10/15/15 (e)		3,909
	462	United Auto Credit Securitization Trust, Series 2012-1, Class A2, 1.100%, 03/16/15 (e)		462
	109	USAA Auto Owner Trust, Series 2012-1, Class A2, 0.380%, 06/15/15		109
	1,100	Volkswagen Auto Lease Trust, Series 2012-A, Class A3, 0.870%, 07/20/15		1,103
	2,127	Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Class A3, 0.850%, 08/22/16		2,133
		VOLT LLC,
	1,757	Series 2012-RLF1, Class A, SUB, 3.475%, 12/25/17 (e)		1,757

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	226		Series 2012-RP3A, Class A1, SUB, 3.475%, 11/27/17 (e)		227
			Westgate Resorts LLC,
	1,481		Series 2012-1, Class A, 4.500%, 09/20/25 (e)		1,507
	1,632		Series 2012-2A, Class A, 3.000%, 01/20/25 (e)		1,638
	807		Series 2012-3A, Class A, 2.500%, 03/20/25 (e)		806
	1,548		Series 2013-1A, Class A, 2.250%, 08/20/25 (e)		1,543
			World Omni Auto Receivables Trust,
	537		Series 2010-A, Class A4, 2.210%, 05/15/15		539
	1,045		Series 2012-B, Class A2, 0.430%, 11/16/15		1,044
			Total Asset-Backed Securities (Cost $190,955)		192,066
	Collateralized Mortgage Obligations — 26.0%
			Agency CMO — 17.0%
	844		Federal Home Loan Bank, Series TQ-2015, Class A, 5.065%, 10/20/15		900
	245		Federal Home Loan Mortgage Corp. —Government National Mortgage Association, Series 8, Class ZA, 7.000%, 03/25/23		274
			Federal Home Loan Mortgage Corp. REMIC,
	18		Series 11, Class D, 9.500%, 07/15/19		19
	11		Series 22, Class C, 9.500%, 04/15/20		12
	18		Series 23, Class F, 9.600%, 04/15/20		20
	—	(h)	Series 41, Class I, HB, 84.000%, 05/15/20		—	(h)
	1		Series 47, Class F, 10.000%, 06/15/20		1
	5		Series 99, Class Z, 9.500%, 01/15/21		5
	—	(h)	Series 204, Class E, HB, IF, 1,851.840%, 05/15/23		—	(h)
	—	(h)	Series 1045, Class G, HB, 1,066.209%, 02/15/21		—	(h)
	7		Series 1065, Class J, 9.000%, 04/15/21		8
	2		Series 1079, Class S, HB, IF, 33.374%, 05/15/21		3
	6		Series 1084, Class F, VAR, 1.134%, 05/15/21		6
	4		Series 1084, Class S, HB, IF, 44.397%, 05/15/21		8
	13		Series 1116, Class I, 5.500%, 08/15/21		14
	15		Series 1144, Class KB, 8.500%, 09/15/21		17
	—	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	—	(h)	Series 1196, Class B, HB, IF, 1,177.174%, 01/15/22		9
	14		Series 1250, Class J, 7.000%, 05/15/22		16

SEE NOTES TO FINANCIAL STATEMENTS.

12 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	22		Series 1343, Class LA, 8.000%, 08/15/22		27
	28		Series 1343, Class LB, 7.500%, 08/15/22		34
	47		Series 1370, Class JA, VAR, 1.334%, 09/15/22		47
	51		Series 1455, Class WB, IF, 4.583%, 12/15/22		53
	229		Series 1466, Class PZ, 7.500%, 02/15/23		259
	4		Series 1470, Class F, VAR, 1.954%, 02/15/23		4
	245		Series 1498, Class I, VAR, 1.334%, 04/15/23		244
	354		Series 1502, Class PX, 7.000%, 04/15/23		394
	46		Series 1505, Class Q, 7.000%, 05/15/23		51
	102		Series 1518, Class G, IF, 8.859%, 05/15/23		121
	33		Series 1541, Class M, HB, IF, 23.727%, 07/15/23		55
	91		Series 1541, Class O, VAR, 1.940%, 07/15/23		95
	10		Series 1570, Class F, VAR, 2.454%, 08/15/23		10
	334		Series 1573, Class PZ, 7.000%, 09/15/23		376
	216		Series 1591, Class PV, 6.250%, 10/15/23		238
	—	(h)	Series 1595, Class D, 7.000%, 10/15/13		—	(h)
	1		Series 1596, Class D, 6.500%, 10/15/13		1
	27		Series 1602, Class SA, HB, IF, 22.152%, 10/15/23		47
	—	(h)	Series 1607, Class SA, HB, IF, 21.260%, 10/15/13		—	(h)
	892		Series 1608, Class L, 6.500%, 09/15/23		982
	127		Series 1609, Class LG, IF, 16.935%, 11/15/23		139
	501		Series 1638, Class H, 6.500%, 12/15/23		558
	423		Series 1642, Class PJ, 6.000%, 11/15/23		478
	14		Series 1671, Class QC, IF, 10.000%, 02/15/24		19
	18		Series 1686, Class SH, IF, 18.823%, 02/15/24		27
	145		Series 1695, Class EB, 7.000%, 03/15/24		165
	29		Series 1699, Class FC, VAR, 0.784%, 03/15/24		29
	156		Series 1700, Class GA, PO, 02/15/24		148
	415		Series 1706, Class K, 7.000%, 03/15/24		470
	14		Series 1709, Class FA, VAR, 1.690%, 03/15/24		14
	38		Series 1745, Class D, 7.500%, 08/15/24		43
	852		Series 1760, Class ZD, VAR, 2.040%, 02/15/24		922

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — Continued
	321		Series 1798, Class F, 5.000%, 05/15/23		346
	6		Series 1807, Class G, 9.000%, 10/15/20		7
	87		Series 1829, Class ZB, 6.500%, 03/15/26		96
	—	(h)	Series 1844, Class E, 6.500%, 10/15/13		—	(h)
	84		Series 1863, Class Z, 6.500%, 07/15/26		93
	39		Series 1865, Class D, PO, 02/15/24		32
	63		Series 1890, Class H, 7.500%, 09/15/26		73
	180		Series 1899, Class ZE, 8.000%, 09/15/26		208
	10		Series 1935, Class FL, VAR, 0.884%, 02/15/27		11
	140		Series 1963, Class Z, 7.500%, 01/15/27		162
	21		Series 1970, Class PG, 7.250%, 07/15/27		24
	199		Series 1981, Class Z, 6.000%, 05/15/27		225
	91		Series 1987, Class PE, 7.500%, 09/15/27		101
	230		Series 2019, Class Z, 6.500%, 12/15/27		261
	69		Series 2033, Class SN, HB, IF, 27.146%, 03/15/24		46
	184		Series 2038, Class PN, IO, 7.000%, 03/15/28		26
	376		Series 2040, Class PE, 7.500%, 03/15/28		433
	63		Series 2043, Class CJ, 6.500%, 04/15/28		73
	304		Series 2054, Class PV, 7.500%, 05/15/28		351
	542		Series 2075, Class PH, 6.500%, 08/15/28		611
	610		Series 2075, Class PM, 6.250%, 08/15/28		618
	177		Series 2086, Class GB, 6.000%, 09/15/28		192
	249		Series 2089, Class PJ, IO, 7.000%, 10/15/28		36
	749		Series 2095, Class PE, 6.000%, 11/15/28		836
	14		Series 2102, Class TC, 6.000%, 12/15/13		15
	10		Series 2102, Class TU, 6.000%, 12/15/13		10
	44		Series 2115, Class PE, 6.000%, 01/15/14		45
	251		Series 2125, Class JZ, 6.000%, 02/15/29		277
	56		Series 2132, Class SB, HB, IF, 29.739%, 03/15/29		105
	35		Series 2134, Class PI, IO, 6.500%, 03/15/19		4
	1		Series 2135, Class UK, IO, 6.500%, 03/15/14		—	(h)
	319		Series 2136, Class PG, 6.000%, 03/15/29		355
	93		Series 2141, Class IO, IO, 7.000%, 04/15/29		13
	80		Series 2163, Class PC, IO, 7.500%, 06/15/29		13
	931		Series 2169, Class TB, 7.000%, 06/15/29		1,070
	410		Series 2172, Class QC, 7.000%, 07/15/29		464
	394		Series 2176, Class OJ, 7.000%, 08/15/29		449

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 13

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	223	Series 2201, Class C, 8.000%, 11/15/29		262
	195	Series 2209, Class TC, 8.000%, 01/15/30		235
	329	Series 2210, Class Z, 8.000%, 01/15/30		383
	87	Series 2224, Class CB, 8.000%, 03/15/30		102
	202	Series 2230, Class Z, 8.000%, 04/15/30		238
	156	Series 2234, Class PZ, 7.500%, 05/15/30		180
	132	Series 2247, Class Z, 7.500%, 08/15/30		153
	201	Series 2256, Class MC, 7.250%, 09/15/30		231
	359	Series 2259, Class ZM, 7.000%, 10/15/30		413
	10	Series 2261, Class ZY, 7.500%, 10/15/30		11
	45	Series 2262, Class Z, 7.500%, 10/15/30		52
	412	Series 2271, Class PC, 7.250%, 12/15/30		474
	585	Series 2283, Class K, 6.500%, 12/15/23		648
	186	Series 2296, Class PD, 7.000%, 03/15/31		214
	62	Series 2306, Class K, PO, 05/15/24		57
	145	Series 2306, Class SE, IF, IO, 8.060%, 05/15/24		27
	262	Series 2313, Class LA, 6.500%, 05/15/31		296
	343	Series 2325, Class PM, 7.000%, 06/15/31		367
	433	Series 2344, Class QG, 6.000%, 08/15/16		460
	2,085	Series 2344, Class ZD, 6.500%, 08/15/31		2,244
	190	Series 2344, Class ZJ, 6.500%, 08/15/31		212
	175	Series 2345, Class NE, 6.500%, 08/15/31		198
	132	Series 2345, Class PQ, 6.500%, 08/15/16		139
	224	Series 2351, Class PZ, 6.500%, 08/15/31		252
	1,789	Series 2353, Class AZ, 6.000%, 09/15/31		1,974
	173	Series 2353, Class TD, 6.000%, 09/15/16		182
	154	Series 2355, Class BP, 6.000%, 09/15/16		162
	99	Series 2359, Class PM, 6.000%, 09/15/16		105
	718	Series 2359, Class ZB, 8.500%, 06/15/31		859
	256	Series 2360, Class PG, 6.000%, 09/15/16		272
	60	Series 2363, Class PF, 6.000%, 09/15/16		63
	113	Series 2366, Class MD, 6.000%, 10/15/16		119
	326	Series 2367, Class ME, 6.500%, 10/15/31		346
	403	Series 2391, Class QR, 5.500%, 12/15/16		424
	166	Series 2394, Class MC, 6.000%, 12/15/16		176
	675	Series 2396, Class FM, VAR, 0.634%, 12/15/31		679
	384	Series 2399, Class OH, 6.500%, 01/15/32		414
	677	Series 2399, Class TH, 6.500%, 01/15/32		729
	602	Series 2410, Class NG, 6.500%, 02/15/32		652
	226	Series 2410, Class OE, 6.375%, 02/15/32		244
	424	Series 2410, Class QS, IF, 19.021%, 02/15/32		623
	213	Series 2410, Class QX, IF, IO, 8.466%, 02/15/32		52

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	444	Series 2412, Class SP, IF, 15.732%, 02/15/32		592
	748	Series 2420, Class XK, 6.500%, 02/15/32		803
	547	Series 2423, Class MC, 7.000%, 03/15/32		630
	505	Series 2423, Class MT, 7.000%, 03/15/32		578
	173	Series 2425, Class OB, 6.000%, 03/15/17		184
	1,111	Series 2430, Class WF, 6.500%, 03/15/32		1,254
	592	Series 2434, Class TC, 7.000%, 04/15/32		662
	565	Series 2435, Class CJ, 6.500%, 04/15/32		617
	489	Series 2436, Class MC, 7.000%, 04/15/32		552
	403	Series 2444, Class ES, IF, IO, 7.766%, 03/15/32		84
	276	Series 2450, Class GZ, 7.000%, 05/15/32		316
	322	Series 2450, Class SW, IF, IO, 7.816%, 03/15/32		67
	1,431	Series 2455, Class GK, 6.500%, 05/15/32		1,614
	100	Series 2458, Class QE, 5.500%, 06/15/17		105
	496	Series 2462, Class JG, 6.500%, 06/15/32		560
	1,109	Series 2464, Class SI, IF, IO, 7.816%, 02/15/32		226
	71	Series 2466, Class PG, 6.500%, 04/15/32		72
	942	Series 2466, Class PH, 6.500%, 06/15/32		1,024
	499	Series 2474, Class NR, 6.500%, 07/15/32		563
	667	Series 2484, Class LZ, 6.500%, 07/15/32		745
	935	Series 2500, Class MC, 6.000%, 09/15/32		1,032
	66	Series 2503, Class BH, 5.500%, 09/15/17		71
	298	Series 2508, Class AQ, 5.500%, 10/15/17		320
	663	Series 2512, Class PG, 5.500%, 10/15/22		730
	363	Series 2535, Class BK, 5.500%, 12/15/22		400
	615	Series 2537, Class TE, 5.500%, 12/15/17		659
	1,237	Series 2543, Class YX, 6.000%, 12/15/32		1,379
	1,303	Series 2544, Class HC, 6.000%, 12/15/32		1,454
	1,441	Series 2552, Class ME, 6.000%, 01/15/33		1,608
	1,394	Series 2567, Class QD, 6.000%, 02/15/33		1,519
	912	Series 2568, Class KG, 5.500%, 02/15/23		995
	140	Series 2571, Class SK, HB, IF, 33.706%, 09/15/23		268
	3,166	Series 2575, Class ME, 6.000%, 02/15/33		3,531
	405	Series 2586, Class WI, IO, 6.500%, 03/15/33		82
	1,276	Series 2587, Class WX, 5.000%, 03/15/18		1,365
	925	Series 2596, Class QG, 6.000%, 03/15/33		1,023
	4	Series 2597, Class DS, IF, IO, 7.366%, 02/15/33		—	(h)
	411	Series 2611, Class UH, 4.500%, 05/15/18		431
	747	Series 2617, Class GR, 4.500%, 05/15/18		789

SEE NOTES TO FINANCIAL STATEMENTS.

14 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	643		Series 2626, Class NS, IF, IO, 6.366%, 06/15/23		54
	860		Series 2631, Class LC, 4.500%, 06/15/18		914
	419		Series 2636, Class Z, 4.500%, 06/15/18		444
	529		Series 2637, Class SA, IF, IO, 5.916%, 06/15/18		44
	29		Series 2638, Class DS, IF, 8.416%, 07/15/23		33
	84		Series 2640, Class UG, IO, 5.000%, 01/15/32		1
	720		Series 2645, Class BI, IO, 4.500%, 02/15/18		13
	418		Series 2650, Class PO, PO, 12/15/32		410
	1,541		Series 2650, Class SO, PO, 12/15/32		1,513
	615		Series 2651, Class VZ, 4.500%, 07/15/18		653
	666		Series 2672, Class ME, 5.000%, 11/15/22		682
	2,693		Series 2675, Class CK, 4.000%, 09/15/18		2,843
	5,135		Series 2684, Class PO, PO, 01/15/33		5,015
	482		Series 2691, Class ME, 4.500%, 04/15/32		492
	164		Series 2692, Class SC, IF, 12.919%, 07/15/33		192
	842		Series 2695, Class DG, 4.000%, 10/15/18		886
	51		Series 2696, Class CO, PO, 10/15/18		50
	—	(h)	Series 2702, Class PC, 5.000%, 01/15/23		—	(h)
	2,000		Series 2710, Class HB, 5.500%, 11/15/23		2,201
	708		Series 2715, Class OG, 5.000%, 01/15/23		732
	1,307		Series 2716, Class UN, 4.500%, 12/15/23		1,398
	687		Series 2720, Class PC, 5.000%, 12/15/23		729
	745		Series 2744, Class PE, 5.500%, 02/15/34		799
	1,112		Series 2744, Class TU, 5.500%, 05/15/32		1,180
	185		Series 2755, Class SA, IF, 13.832%, 05/15/30		194
	216		Series 2764, Class TE, 5.000%, 10/15/32		221
	352		Series 2777, Class OM, PO, 12/15/32		351
	52		Series 2780, Class JG, 4.500%, 04/15/19		53
	1,284		Series 2783, Class AT, 4.000%, 04/15/19		1,370
	3,665		Series 2809, Class UC, 4.000%, 06/15/19		3,892
	257		Series 2827, Class XO, PO, 01/15/23		256
	103		Series 2835, Class QO, PO, 12/15/32		94
	207		Series 2840, Class JO, PO, 06/15/23		204
	78		Series 2850, Class SN, IF, IO, 6.966%, 09/15/18		1
	471		Series 2922, Class JN, 4.500%, 02/15/20		498
	907		Series 2934, Class EC, PO, 02/15/20		882
	28		Series 2934, Class EN, PO, 02/15/18		28
	756		Series 2934, Class HI, IO, 5.000%, 02/15/20		69

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	720	Series 2934, Class KI, IO, 5.000%, 02/15/20		71
	661	Series 2958, Class QD, 4.500%, 04/15/20		702
	1,500	Series 2962, Class BE, 4.500%, 04/15/20		1,615
	3,304	Series 2965, Class GD, 4.500%, 04/15/20		3,514
	302	Series 2971, Class GC, 5.000%, 07/15/18		306
	97	Series 2989, Class PO, PO, 06/15/23		96
	4,207	Series 2990, Class U2, 5.750%, 06/15/35		4,655
	1,828	Series 3004, Class EK, 5.500%, 07/15/35		1,885
	56	Series 3007, Class AI, IO, 5.500%, 07/15/24		2
	82	Series 3014, Class OD, PO, 08/15/35		65
	632	Series 3047, Class OB, 5.500%, 12/15/33		646
	944	Series 3047, Class OD, 5.500%, 10/15/35		1,069
	671	Series 3049, Class XF, VAR, 0.534%, 05/15/33		673
	3,095	Series 3064, Class MC, 5.500%, 11/15/35		3,516
	189	Series 3068, Class AO, PO, 01/15/35		188
	485	Series 3068, Class QB, 4.500%, 06/15/20		507
	2,141	Series 3074, Class BH, 5.000%, 11/15/35		2,360
	721	Series 3085, Class WF, VAR, 0.984%, 08/15/35		731
	6	Series 3100, Class MA, VAR, 0.277%, 12/15/35		6
	1,255	Series 3102, Class FB, VAR, 0.484%, 01/15/36		1,259
	286	Series 3102, Class HS, HB, IF, 23.892%, 01/15/36		435
	1,281	Series 3117, Class EO, PO, 02/15/36		1,191
	738	Series 3117, Class OK, PO, 02/15/36		673
	17	Series 3122, Class ZB, 6.000%, 03/15/36		16
	2,723	Series 3131, Class BK, 5.500%, 03/15/26		2,996
	245	Series 3134, Class PO, PO, 03/15/36		225
	1,168	Series 3138, Class PO, PO, 04/15/36		1,085
	33	Series 3149, Class SO, PO, 05/15/36		24
	1,132	Series 3151, Class UC, 5.500%, 08/15/35		1,200
	802	Series 3152, Class MO, PO, 03/15/36		738
	232	Series 3171, Class MO, PO, 06/15/36		220
	1,053	Series 3179, Class OA, PO, 07/15/36		970
	337	Series 3194, Class SA, IF, IO, 6.916%, 07/15/36		46
	842	Series 3211, Class SO, PO, 09/15/36		775
	431	Series 3218, Class AO, PO, 09/15/36		401
	1,100	Series 3219, Class DI, IO, 6.000%, 04/15/36		187
	1,500	Series 3229, Class HE, 5.000%, 10/15/26		1,637

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 15

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	978	Series 3232, Class ST, IF, IO, 6.516%, 10/15/36		159
	410	Series 3233, Class OP, PO, 05/15/36		365
	566	Series 3242, Class NE, 5.750%, 02/15/34		577
	559	Series 3256, Class PO, PO, 12/15/36		516
	1,078	Series 3260, Class CS, IF, IO, 5.956%, 01/15/37		148
	583	Series 3261, Class OA, PO, 01/15/37		538
	428	Series 3274, Class JO, PO, 02/15/37		390
	296	Series 3275, Class FL, VAR, 0.624%, 02/15/37		298
	1,603	Series 3290, Class SB, IF, IO, 6.266%, 03/15/37		201
	2,907	Series 3315, Class HZ, 6.000%, 05/15/37		3,231
	256	Series 3316, Class GD, 5.500%, 06/15/35		258
	122	Series 3318, Class AO, PO, 05/15/37		111
	228	Series 3326, Class JO, PO, 06/15/37		210
	742	Series 3331, Class PO, PO, 06/15/37		683
	802	Series 3385, Class SN, IF, IO, 5.816%, 11/15/37		116
	1,078	Series 3387, Class SA, IF, IO, 6.236%, 11/15/37		158
	1,609	Series 3404, Class SC, IF, IO, 5.816%, 01/15/38		222
	5,488	Series 3422, Class AI, IO, SUB, 0.250%, 01/15/38		56
	1,106	Series 3424, Class PI, IF, IO, 6.616%, 04/15/38		147
	1,745	Series 3481, Class SJ, IF, IO, 5.666%, 08/15/38		180
	1,523	Series 3505, Class SA, IF, IO, 5.816%, 01/15/39		214
	1,737	Series 3511, Class SA, IF, IO, 5.816%, 02/15/39		245
	632	Series 3549, Class FA, VAR, 1.384%, 07/15/39		644
	598	Series 3607, Class BO, PO, 04/15/36		543
	1,289	Series 3607, Class OP, PO, 07/15/37		1,191
	785	Series 3607, Class PO, PO, 05/15/37		716
	258	Series 3611, Class PO, PO, 07/15/34		237
	693	Series 3621, Class BO, PO, 01/15/40		639
	761	Series 3720, Class A, 4.500%, 09/15/25		816
	2,367	Series 3739, Class LI, IO, 4.000%, 03/15/34		155
	6,385	Series 3747, Class HI, IO, 4.500%, 07/15/37		604
	1,000	Series 3747, Class PY, 4.000%, 10/15/40		990

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	2,942	Series 3759, Class HI, IO, 4.000%, 08/15/37		329
	2,846	Series 3760, Class GI, IO, 4.000%, 10/15/37		306
	228	Series 3798, Class BF, VAR, 0.484%, 06/15/24		229
	1,181	Series 3804, Class FN, VAR, 0.634%, 03/15/39		1,182
	5,228	Series 3819, Class ZQ, 6.000%, 04/15/36		5,692
	857	Series 3852, Class QN, IF, 5.500%, 05/15/41		877
	2,390	Series 3852, Class TP, IF, 5.500%, 05/15/41		2,508
	3,000	Series 3920, Class LP, 5.000%, 01/15/34		3,261
	1,687	Series 3925, Class FL, VAR, 0.634%, 01/15/41		1,705
	1,398	Series 3957, Class B, 4.000%, 11/15/41		1,448
	1,686	Series 3966, Class NA, 4.000%, 12/15/41		1,711
	1,323	Series 3997, Class PF, VAR, 0.634%, 11/15/39		1,327
	3,942	Series 4048, Class FJ, VAR, 0.595%, 07/15/37		3,949
	8,345	Series 4219, Class JA, 3.500%, 08/15/39		8,602
		Federal Home Loan Mortgage Corp. STRIPS,
	2	Series 134, Class B, IO, 9.000%, 04/01/22		1
	1,949	Series 233, Class 11, IO, 5.000%, 09/15/35		344
	2,784	Series 233, Class 13, IO, 5.000%, 09/15/35		492
	543	Series 243, Class 16, IO, 4.500%, 11/15/20		45
	1,220	Series 243, Class 17, IO, 4.500%, 12/15/20		104
	9,106	Series 262, Class 35, 3.500%, 07/15/42		9,157
	1,897	Series 264, Class F1, VAR, 0.734%, 07/15/42		1,880
	2,373	Series 267, Class F5, VAR, 0.684%, 08/15/42		2,355
	2,901	Series 281, Class F1, VAR, 0.684%, 10/15/42		2,924
	9,764	Series 299, Class 300, 3.000%, 01/15/43		9,641
		Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	600	Series T-41, Class 3A, VAR, 6.706%, 07/25/32		694
	354	Series T-51, Class 2A, VAR, 7.500%, 08/25/42		419
	2,091	Series T-54, Class 2A, 6.500%, 02/25/43		2,495
	617	Series T-54, Class 3A, 7.000%, 02/25/43		730
	263	Series T-58, Class APO, PO, 09/25/43		211
	575	Series T-59, Class 1AP, PO, 10/25/43		458

SEE NOTES TO FINANCIAL STATEMENTS.

16 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	2,171		Series T-76, Class 2A, VAR, 3.851%, 10/25/37		2,166
			Federal National Mortgage Association — ACES,
	3,300		Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		3,581
	1,416		Series 2011-M2, Class A2, 3.645%, 04/25/21		1,472
	8,500		Series 2011-M2, Class A3, 3.764%, 07/25/21		8,863
	4,100		Series 2012-M9, Class A2, 2.482%, 04/25/22		3,827
	1,158		Series 2012-M11, Class FA, VAR, 0.716%, 08/25/19		1,154
	1,878		Series 2013-M7, Class A2, 2.280%, 12/25/22		1,697
	8,000		Series 2013-M9, Class A2, VAR, 2.389%, 01/25/23		7,303
			Federal National Mortgage Association Grantor Trust,
	1,008		Series 2002-T19, Class A2, 7.000%, 07/25/42		1,183
	790		Series 2004-T3, Class 1A3, 7.000%, 02/25/44		894
			Federal National Mortgage Association REMIC Trust,
	1,028		Series 2003-W1, Class 1A1, VAR, 6.020%, 12/25/42		1,183
	392		Series 2003-W1, Class 2A, VAR, 6.801%, 12/25/42		466
	160		Series 2003-W4, Class 2A, VAR, 6.423%, 10/25/42		170
	101		Series 2007-W7, Class 1A4, HB, IF, 38.076%, 07/25/37		171
	2,672		Series 2009-W1, Class A, 6.000%, 12/25/49		3,059
			Federal National Mortgage Association REMIC,
	6		Series 1988-7, Class Z, 9.250%, 04/25/18		7
	14		Series 1989-70, Class G, 8.000%, 10/25/19		15
	5		Series 1989-78, Class H, 9.400%, 11/25/19		6
	10		Series 1989-83, Class H, 8.500%, 11/25/19		11
	8		Series 1989-89, Class H, 9.000%, 11/25/19		10
	9		Series 1990-1, Class D, 8.800%, 01/25/20		11
	1		Series 1990-60, Class K, 5.500%, 06/25/20		1
	3		Series 1990-63, Class H, 9.500%, 06/25/20		4
	2		Series 1990-93, Class G, 5.500%, 08/25/20		2
	—	(h)	Series 1990-94, Class H, HB, 505.000%, 08/25/20		1

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — Continued
	—	(h)	Series 1990-95, Class J, HB, 1,118.040%, 08/25/20		1
	18		Series 1990-102, Class J, 6.500%, 08/25/20		20
	24		Series 1990-120, Class H, 9.000%, 10/25/20		27
	3		Series 1990-134, Class SC, HB, IF, 21.324%, 11/25/20		4
	—	(h)	Series 1990-140, Class K, HB, 652.145%, 12/25/20		2
	—	(h)	Series 1991-7, Class K, HB, 908.500%, 02/25/21		—	(h)
	10		Series 1991-24, Class Z, 5.000%, 03/25/21		11
	1		Series 1992-101, Class J, 7.500%, 06/25/22		1
	49		Series 1992-136, Class PK, 6.000%, 08/25/22		53
	39		Series 1992-143, Class MA, 5.500%, 09/25/22		42
	112		Series 1992-163, Class M, 7.750%, 09/25/22		127
	186		Series 1992-188, Class PZ, 7.500%, 10/25/22		209
	74		Series 1993-21, Class KA, 7.700%, 03/25/23		85
	126		Series 1993-25, Class J, 7.500%, 03/25/23		143
	29		Series 1993-27, Class SA, IF, 15.500%, 02/25/23		39
	43		Series 1993-62, Class SA, IF, 18.307%, 04/25/23		64
	22		Series 1993-165, Class SD, IF, 12.833%, 09/25/23		29
	49		Series 1993-165, Class SK, IF, 12.500%, 09/25/23		63
	33		Series 1993-179, Class SB, HB, IF, 25.576%, 10/25/23		55
	22		Series 1993-179, Class SC, IF, 10.500%, 10/25/23		26
	65		Series 1993-199, Class FA, VAR, 0.734%, 10/25/23		65
	63		Series 1993-205, Class H, PO, 09/25/23		59
	5		Series 1993-220, Class SG, IF, 15.632%, 11/25/13		5
	98		Series 1993-225, Class UB, 6.500%, 12/25/23		114
	33		Series 1993-230, Class FA, VAR, 0.784%, 12/25/23		33
	92		Series 1993-247, Class FE, VAR, 1.184%, 12/25/23		94

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 17

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	43	Series 1993-247, Class SU, IF, 11.996%, 12/25/23		56
	100	Series 1993-250, Class Z, 7.000%, 12/25/23		104
	362	Series 1994-37, Class L, 6.500%, 03/25/24		401
	1,746	Series 1994-40, Class Z, 6.500%, 03/25/24		1,928
	79	Series 1995-2, Class Z, 8.500%, 01/25/25		93
	269	Series 1995-19, Class Z, 6.500%, 11/25/23		307
	376	Series 1996-14, Class SE, IF, IO, 8.180%, 08/25/23		69
	12	Series 1996-27, Class FC, VAR, 0.684%, 03/25/17		12
	33	Series 1996-59, Class J, 6.500%, 08/25/22		36
	391	Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		17
	27	Series 1997-27, Class J, 7.500%, 04/18/27		30
	57	Series 1997-29, Class J, 7.500%, 04/20/27		66
	348	Series 1997-39, Class PD, 7.500%, 05/20/27		408
	4	Series 1997-42, Class EN, 7.250%, 07/18/27		4
	37	Series 1997-42, Class ZC, 6.500%, 07/18/27		41
	679	Series 1997-61, Class ZC, 7.000%, 02/25/23		762
	113	Series 1997-81, Class PI, IO, 7.000%, 12/18/27		16
	13	Series 1998-4, Class C, PO, 04/25/23		12
	241	Series 1998-36, Class ZB, 6.000%, 07/18/28		264
	129	Series 1998-43, Class SA, IF, IO, 17.727%, 04/25/23		48
	225	Series 1998-66, Class SB, IF, IO, 7.966%, 12/25/28		41
	128	Series 1999-17, Class C, 6.350%, 04/25/29		144
	722	Series 1999-18, Class Z, 5.500%, 04/18/29		799
	168	Series 1999-38, Class SK, IF, IO, 7.866%, 08/25/23		20
	61	Series 1999-52, Class NS, HB, IF, 22.865%, 10/25/23		99
	173	Series 1999-62, Class PB, 7.500%, 12/18/29		199
	557	Series 2000-2, Class ZE, 7.500%, 02/25/30		642
	301	Series 2000-20, Class SA, IF, IO, 8.916%, 07/25/30		74
	40	Series 2000-52, Class IO, IO, 8.500%, 01/25/31		7
	191	Series 2001-4, Class PC, 7.000%, 03/25/21		213

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	2	Series 2001-5, Class OW, 6.000%, 03/25/16		2
	126	Series 2001-7, Class PF, 7.000%, 03/25/31		145
	68	Series 2001-7, Class PR, 6.000%, 03/25/16		69
	50	Series 2001-10, Class PR, 6.000%, 04/25/16		51
	372	Series 2001-30, Class PM, 7.000%, 07/25/31		425
	419	Series 2001-33, Class ID, IO, 6.000%, 07/25/31		94
	370	Series 2001-36, Class DE, 7.000%, 08/25/31		425
	832	Series 2001-44, Class MY, 7.000%, 09/25/31		955
	145	Series 2001-44, Class PD, 7.000%, 09/25/31		164
	139	Series 2001-44, Class PU, 7.000%, 09/25/31		160
	1,455	Series 2001-48, Class Z, 6.500%, 09/25/21		1,627
	118	Series 2001-49, Class Z, 6.500%, 09/25/31		131
	104	Series 2001-52, Class KB, 6.500%, 10/25/31		118
	135	Series 2001-52, Class XN, 6.500%, 11/25/15		141
	1,243	Series 2001-61, Class Z, 7.000%, 11/25/31		1,408
	106	Series 2001-71, Class MB, 6.000%, 12/25/16		112
	232	Series 2001-71, Class QE, 6.000%, 12/25/16		245
	59	Series 2001-72, Class SX, IF, 17.037%, 12/25/31		84
	371	Series 2001-74, Class MB, 6.000%, 12/25/16		393
	113	Series 2002-1, Class HC, 6.500%, 02/25/22		125
	131	Series 2002-1, Class SA, HB, IF, 24.589%, 02/25/32		234
	92	Series 2002-1, Class UD, HB, IF, 23.856%, 12/25/23		148
	304	Series 2002-2, Class UC, 6.000%, 02/25/17		323
	759	Series 2002-3, Class OG, 6.000%, 02/25/17		801
	168	Series 2002-7, Class OG, 6.000%, 03/25/17		177
	501	Series 2002-7, Class TG, 6.000%, 03/25/17		528
	175	Series 2002-10, Class SB, IF, 18.758%, 03/25/17		217
	1,261	Series 2002-13, Class SJ, IF, IO, 1.600%, 03/25/32		48
	20	Series 2002-13, Class ST, IF, 10.000%, 03/25/32		24

SEE NOTES TO FINANCIAL STATEMENTS.

18 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	117	Series 2002-18, Class PC, 5.500%, 04/25/17		118
	180	Series 2002-19, Class PE, 6.000%, 04/25/17		190
	40	Series 2002-21, Class LO, PO, 04/25/32		38
	388	Series 2002-21, Class PE, 6.500%, 04/25/32		423
	400	Series 2002-24, Class AJ, 6.000%, 04/25/17		429
	122	Series 2002-25, Class SG, IF, 18.878%, 05/25/17		154
	995	Series 2002-28, Class PK, 6.500%, 05/25/32		1,122
	237	Series 2002-37, Class Z, 6.500%, 06/25/32		265
	294	Series 2002-42, Class C, 6.000%, 07/25/17		315
	1,310	Series 2002-48, Class GH, 6.500%, 08/25/32		1,478
	621	Series 2002-62, Class ZE, 5.500%, 11/25/17		663
	174	Series 2002-63, Class KC, 5.000%, 10/25/17		185
	241	Series 2002-77, Class S, IF, 14.146%, 12/25/32		306
	737	Series 2002-83, Class CS, 6.881%, 08/25/23		830
	1,295	Series 2002-94, Class BK, 5.500%, 01/25/18		1,374
	620	Series 2003-3, Class HJ, 5.000%, 02/25/18		662
	2,524	Series 2003-22, Class UD, 4.000%, 04/25/33		2,622
	1,433	Series 2003-33, Class IA, IO, 6.500%, 05/25/33		221
	973	Series 2003-34, Class AX, 6.000%, 05/25/33		1,082
	1,516	Series 2003-34, Class ED, 6.000%, 05/25/33		1,719
	58	Series 2003-35, Class UC, 3.750%, 05/25/33		61
	169	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		33
	1,319	Series 2003-39, Class LW, 5.500%, 05/25/23		1,454
	1,372	Series 2003-41, Class PE, 5.500%, 05/25/23		1,499
	346	Series 2003-42, Class GB, 4.000%, 05/25/33		366
	85	Series 2003-45, Class AI, IO, 5.500%, 05/25/33		2

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	643	Series 2003-47, Class PE, 5.750%, 06/25/33		697
	263	Series 2003-52, Class SX, HB, IF, 22.398%, 10/25/31		457
	24	Series 2003-56, Class AZ, 5.500%, 08/25/31		24
	184	Series 2003-64, Class SX, IF, 13.282%, 07/25/33		214
	621	Series 2003-71, Class DS, IF, 7.217%, 08/25/33		621
	514	Series 2003-71, Class IM, IO, 5.500%, 12/25/31		30
	1,463	Series 2003-72, Class IE, IO, 5.500%, 08/25/33		243
	112	Series 2003-74, Class SH, IF, 9.839%, 08/25/33		111
	494	Series 2003-76, Class GQ, 4.500%, 08/25/18		527
	1,243	Series 2003-80, Class SY, IF, IO, 7.466%, 06/25/23		124
	891	Series 2003-81, Class LC, 4.500%, 09/25/18		952
	1,939	Series 2003-83, Class PG, 5.000%, 06/25/23		2,073
	340	Series 2003-91, Class SD, IF, 12.193%, 09/25/33		398
	1,937	Series 2003-116, Class SB, IF, IO, 7.416%, 11/25/33		392
	630	Series 2003-122, Class TE, 5.000%, 12/25/22		645
	14	Series 2003-128, Class KE, 4.500%, 01/25/14		14
	540	Series 2003-128, Class NG, 4.000%, 01/25/19		573
	150	Series 2003-130, Class SX, IF, 11.244%, 01/25/34		181
	181	Series 2003-132, Class OA, PO, 08/25/33		172
	1,784	Series 2004-4, Class QI, IF, IO, 6.916%, 06/25/33		307
	169	Series 2004-4, Class QM, IF, 13.832%, 06/25/33		207
	870	Series 2004-10, Class SC, HB, IF, 27.864%, 02/25/34		1,207
	896	Series 2004-25, Class PC, 5.500%, 01/25/34		966
	1,390	Series 2004-25, Class SA, IF, 19.019%, 04/25/34		2,003
	2,968	Series 2004-27, Class HB, 4.000%, 05/25/19		3,159

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 19

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	613	Series 2004-36, Class PC, 5.500%, 02/25/34		661
	1,661	Series 2004-36, Class SA, IF, 19.019%, 05/25/34		2,417
	594	Series 2004-36, Class SN, IF, 13.832%, 07/25/33		709
	2,211	Series 2004-37, Class AG, 4.500%, 11/25/32		2,284
	699	Series 2004-46, Class QB, HB, IF, 23.264%, 05/25/34		1,066
	2,206	Series 2004-46, Class SK, IF, 15.994%, 05/25/34		2,926
	378	Series 2004-51, Class SY, IF, 13.872%, 07/25/34		474
	414	Series 2004-53, Class NC, 5.500%, 07/25/24		454
	546	Series 2004-59, Class BG, PO, 12/25/32		523
	1,084	Series 2004-61, Class FH, VAR, 0.984%, 11/25/32		1,099
	143	Series 2004-61, Class SK, IF, 8.500%, 11/25/32		164
	386	Series 2004-76, Class CL, 4.000%, 10/25/19		405
	672	Series 2004-79, Class SP, IF, 19.294%, 11/25/34		957
	168	Series 2004-81, Class AC, 4.000%, 11/25/19		178
	13	Series 2004-92, Class JO, PO, 12/25/34		13
	199	Series 2005-52, Class PA, 6.500%, 06/25/35		214
	1,950	Series 2005-56, Class S, IF, IO, 6.526%, 07/25/35		369
	410	Series 2005-66, Class SG, IF, 16.915%, 07/25/35		561
	862	Series 2005-68, Class BC, 5.250%, 06/25/35		938
	1,907	Series 2005-68, Class PG, 5.500%, 08/25/35		2,111
	1,166	Series 2005-68, Class UC, 5.000%, 06/25/35		1,259
	855	Series 2005-74, Class CS, IF, 19.514%, 05/25/35		1,235
	7,626	Series 2005-84, Class XM, 5.750%, 10/25/35		8,440
	451	Series 2005-97, Class HC, 5.000%, 02/25/32		452
	3,376	Series 2005-109, Class PC, 6.000%, 12/25/35		3,763
	13,335	Series 2005-110, Class GK, 5.500%, 08/25/34		14,073

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	4,326	Series 2005-110, Class GL, 5.500%, 12/25/35		4,872
	2,997	Series 2005-110, Class MN, 5.500%, 06/25/35		3,256
	854	Series 2005-116, Class PB, 6.000%, 04/25/34		905
	52	Series 2005-118, Class PN, 6.000%, 01/25/32		52
	262	Series 2006-15, Class OT, PO, 01/25/36		256
	670	Series 2006-16, Class OA, PO, 03/25/36		618
	832	Series 2006-22, Class AO, PO, 04/25/36		766
	287	Series 2006-23, Class KO, PO, 04/25/36		268
	2,873	Series 2006-39, Class WC, 5.500%, 01/25/36		3,114
	153	Series 2006-42, Class CF, VAR, 0.634%, 06/25/36		155
	1,533	Series 2006-44, Class GO, PO, 06/25/36		1,412
	3,334	Series 2006-44, Class P, PO, 12/25/33		3,067
	1,982	Series 2006-46, Class UC, 5.500%, 12/25/35		2,169
	2,233	Series 2006-53, Class US, IF, IO, 6.396%, 06/25/36		382
	1,953	Series 2006-56, Class FC, VAR, 0.474%, 07/25/36		1,955
	1,997	Series 2006-56, Class PF, VAR, 0.534%, 07/25/36		2,009
	1,118	Series 2006-56, Class PO, PO, 07/25/36		1,064
	1,638	Series 2006-58, Class AP, PO, 07/25/36		1,538
	168	Series 2006-58, Class FL, VAR, 0.644%, 07/25/36		170
	675	Series 2006-58, Class PO, PO, 07/25/36		621
	1,083	Series 2006-59, Class QO, PO, 01/25/33		1,065
	3,183	Series 2006-60, Class DZ, 6.500%, 07/25/36		3,687
	1,047	Series 2006-65, Class QO, PO, 07/25/36		963
	268	Series 2006-72, Class TO, PO, 08/25/36		252
	4,039	Series 2006-77, Class PC, 6.500%, 08/25/36		4,533
	848	Series 2006-79, Class DO, PO, 08/25/36		784
	663	Series 2006-90, Class AO, PO, 09/25/36		609
	282	Series 2006-109, Class PO, PO, 11/25/36		263
	2,231	Series 2006-110, Class PO, PO, 11/25/36		2,054
	185	Series 2006-111, Class EO, PO, 11/25/36		172
	1,061	Series 2006-118, Class A2, VAR, 0.258%, 12/25/36		991
	295	Series 2006-119, Class PO, PO, 12/25/36		271
	5,445	Series 2006-124, Class HB, VAR, 5.976%, 11/25/36		5,682

SEE NOTES TO FINANCIAL STATEMENTS.

20 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	1,000	Series 2006-128, Class BP, 5.500%, 01/25/37		1,133
	1,178	Series 2006-130, Class GI, IO, 6.500%, 07/25/32		156
	1,404	Series 2007-7, Class SG, IF, IO, 6.316%, 08/25/36		289
	3,609	Series 2007-14, Class ES, IF, IO, 6.256%, 03/25/37		484
	313	Series 2007-15, Class NO, PO, 03/25/22		301
	1,354	Series 2007-16, Class FC, VAR, 0.934%, 03/25/37		1,347
	416	Series 2007-42, Class AO, PO, 05/25/37		398
	1,235	Series 2007-46, Class VK, 5.500%, 03/25/22		1,250
	466	Series 2007-48, Class PO, PO, 05/25/37		446
	1,661	Series 2007-54, Class FA, VAR, 0.584%, 06/25/37		1,671
	7,592	Series 2007-60, Class AX, IF, IO, 6.966%, 07/25/37		1,381
	372	Series 2007-77, Class FG, VAR, 0.684%, 03/25/37		376
	1,400	Series 2007-81, Class GE, 6.000%, 08/25/37		1,562
	3,225	Series 2007-84, Class PG, 6.000%, 12/25/36		3,434
	4,679	Series 2007-88, Class VI, IF, IO, 6.356%, 09/25/37		680
	3,097	Series 2007-91, Class ES, IF, IO, 6.276%, 10/25/37		431
	2,063	Series 2007-97, Class KI, IO, 7.000%, 05/25/33		302
	3,653	Series 2007-101, Class A2, VAR, 0.434%, 06/27/36		3,624
	898	Series 2007-106, Class A7, VAR, 6.002%, 10/25/37		1,001
	3,000	Series 2007-114, Class A6, VAR, 0.384%, 10/27/37		3,002
	2,357	Series 2007-116, Class HI, IO, VAR, 1.590%, 01/25/38		170
	82	Series 2007-118, Class IO, IO, 6.000%, 06/25/36		7
	2,063	Series 2008-1, Class BI, IF, IO, 5.726%, 02/25/38		202
	1,501	Series 2008-10, Class XI, IF, IO, 6.046%, 03/25/38		176
	874	Series 2008-16, Class IS, IF, IO, 6.016%, 03/25/38		121
	1,047	Series 2008-19, Class IC, IO, 5.000%, 03/25/23		78

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	1,000	Series 2008-24, Class DY, 5.000%, 04/25/23		1,088
	914	Series 2008-27, Class SN, IF, IO, 6.716%, 04/25/38		121
	525	Series 2008-39, Class CI, IO, 4.500%, 05/25/18		38
	607	Series 2008-42, Class AO, PO, 09/25/36		580
	73	Series 2008-44, Class PO, PO, 05/25/38		67
	1,009	Series 2008-47, Class SI, IF, IO, 6.316%, 06/25/23		110
	1,268	Series 2008-53, Class CI, IF, IO, 7.016%, 07/25/38		185
	562	Series 2008-76, Class GF, VAR, 0.834%, 09/25/23		566
	2,641	Series 2008-80, Class SA, IF, IO, 5.666%, 09/25/38		258
	1,687	Series 2008-81, Class SB, IF, IO, 5.666%, 09/25/38		234
	2,485	Series 2009-6, Class GS, IF, IO, 6.366%, 02/25/39		341
	1,063	Series 2009-9, Class IO, IO, 5.000%, 02/25/24		99
	1,019	Series 2009-18, Class IO, IO, 5.000%, 03/25/24		94
	2,500	Series 2009-19, Class IP, IO, 5.500%, 10/25/36		580
	1,700	Series 2009-60, Class HT, 6.000%, 08/25/39		1,937
	1,206	Series 2009-62, Class HJ, 6.000%, 05/25/39		1,327
	1,754	Series 2009-70, Class CO, PO, 01/25/37		1,611
	1,449	Series 2009-86, Class UI, IO, 4.000%, 10/25/14		50
	1,259	Series 2009-99, Class SC, IF, IO, 5.996%, 12/25/39		126
	1,144	Series 2009-103, Class MB, VAR, 2.847%, 12/25/39		1,217
	1,850	Series 2010-45, Class BD, 4.500%, 11/25/38		1,925
	1,835	Series 2010-49, Class SC, IF, 12.292%, 03/25/40		2,139
	1,200	Series 2010-64, Class DM, 5.000%, 06/25/40		1,328
	1,383	Series 2010-71, Class HJ, 5.500%, 07/25/40		1,557
	3,106	Series 2010-133, Class A, 5.500%, 05/25/38		3,354
	3,517	Series 2010-147, Class SA, IF, IO, 6.346%, 01/25/41		635

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 21

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	1,660		Series 2010-148, Class MA, 4.000%, 02/25/39		1,707
	1,823		Series 2011-2, Class WA, VAR, 5.811%, 02/25/51		1,963
	2,099		Series 2011-22, Class MA, 6.500%, 04/25/38		2,366
	4,246		Series 2011-30, Class LS, IO, VAR, 2.806%, 04/25/41		295
	1,063		Series 2011-75, Class FA, VAR, 0.734%, 08/25/41		1,073
	2,049		Series 2011-118, Class MT, 7.000%, 11/25/41		2,391
	2,755		Series 2011-130, Class CA, 6.000%, 12/25/41		3,038
	1,660		Series 2012-14, Class FB, VAR, 0.634%, 08/25/37		1,670
	9,523		Series 2012-47, Class HF, VAR, 0.584%, 05/25/27		9,605
	6,144		Series 2012-99, Class AE, 2.500%, 05/25/39		5,970
	3,825		Series 2012-108, Class F, VAR, 0.684%, 10/25/42		3,815
	4,800		Series 2012-137, Class CF, VAR, 0.484%, 08/25/41		4,808
	2,483		Series 2013-92, Class PO, PO, 09/25/43		1,784
	—	(h)	Series G-17, Class S, HB, VAR, 1,061.939%, 06/25/21		9
	25		Series G-28, Class S, IF, 14.916%, 09/25/21		32
	31		Series G-35, Class M, 8.750%, 10/25/21		35
	11		Series G-51, Class SA, HB, IF, 24.490%, 12/25/21		16
	—	(h)	Series G92-27, Class SQ, HB, IF, 1,821.250%, 05/25/22		2
	156		Series G92-35, Class E, 7.500%, 07/25/22		174
	—	(h)	Series G92-35, Class G, HB, 1,184.775%, 07/25/22		3
	19		Series G92-42, Class Z, 7.000%, 07/25/22		21
	482		Series G92-44, Class ZQ, 8.000%, 07/25/22		529
	25		Series G92-52, Class FD, VAR, 0.205%, 09/25/22		25
	184		Series G92-54, Class ZQ, 7.500%, 09/25/22		205
	24		Series G92-59, Class F, VAR, 1.654%, 10/25/22		24
	48		Series G92-61, Class Z, 7.000%, 10/25/22		55
	33		Series G92-62, Class B, PO, 10/25/22		31
	167		Series G93-1, Class KA, 7.900%, 01/25/23		190
	37		Series G93-5, Class Z, 6.500%, 02/25/23		42
	47		Series G93-14, Class J, 6.500%, 03/25/23		52

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — Continued
	114		Series G93-17, Class SI, IF, 6.000%, 04/25/23		126
	104		Series G93-27, Class FD, VAR, 1.064%, 08/25/23		105
	26		Series G93-37, Class H, PO, 09/25/23		24
	45		Series G95-1, Class C, 8.800%, 01/25/25		52
			Federal National Mortgage Association STRIPS,
	3		Series 23, Class 2, IO, 10.000%, 09/01/17		—	(h)
	—	(h)	Series 50, Class 2, IO, 10.500%, 03/01/19		—	(h)
	15		Series 218, Class 2, IO, 7.500%, 04/01/23		3
	15		Series 265, Class 2, 9.000%, 03/01/24		19
	206		Series 329, Class 1, PO, 01/01/33		189
	622		Series 339, Class 18, IO, 4.500%, 07/01/18		44
	899		Series 339, Class 21, IO, 4.500%, 08/25/18		64
	454		Series 339, Class 28, IO, 5.500%, 08/01/18		36
	247		Series 345, Class 6, IO, VAR, 5.000%, 12/01/33		42
	947		Series 351, Class 7, IO, VAR, 5.000%, 04/01/34		158
	779		Series 355, Class 11, IO, 6.000%, 07/01/34		137
	376		Series 355, Class 31, IO, VAR, 4.500%, 12/01/18		29
	1,435		Series 365, Class 8, IO, 5.500%, 05/01/36		258
	192		Series 368, Class 3, IO, 4.500%, 11/01/20		13
	731		Series 374, Class 5, IO, 5.500%, 08/01/36		115
	421		Series 383, Class 32, IO, 6.000%, 01/01/38		72
	1,100		Series 383, Class 33, IO, 6.000%, 01/01/38		189
	236		Series 393, Class 6, IO, 5.500%, 04/25/37		36
			Federal National Mortgage Association Trust,
	277		Series 2004-W1, Class 2A2, 7.000%, 12/25/33		313
	1,259		Series 2004-W15, Class 2AF, VAR, 0.434%, 08/25/44		1,250
	887		Series 2004-W2, Class 2A2, 7.000%, 02/25/44		1,028
	3,206		Series 2005-W3, Class 2AF, VAR, 0.404%, 03/25/45		3,201
	1,090		Series 2006-W2, Class 1AF1, VAR, 0.404%, 02/25/46		1,082
			Government National Mortgage Association,
	1,705		Series 1994-7, Class PQ, 6.500%, 10/16/24		1,962
	237		Series 1998-26, Class K, 7.500%, 09/17/25		269
	1,166		Series 1999-4, Class ZB, 6.000%, 02/20/29		1,310
	1,153		Series 1999-10, Class ZC, 6.500%, 04/20/29		1,299
	109		Series 1999-30, Class S, IF, IO, 8.416%, 08/16/29		27

SEE NOTES TO FINANCIAL STATEMENTS.

22 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	17	Series 1999-33, Class SM, IF, 9.200%, 09/16/29		20
	229	Series 1999-40, Class ZW, 7.500%, 11/20/29		267
	331	Series 1999-41, Class Z, 8.000%, 11/16/29		391
	118	Series 1999-44, Class PC, 7.500%, 12/20/29		138
	2,351	Series 1999-44, Class ZC, 8.500%, 12/16/29		2,767
	400	Series 1999-44, Class ZG, 8.000%, 12/20/29		474
	158	Series 2000-9, Class Z, 8.000%, 06/20/30		189
	1,523	Series 2000-9, Class ZJ, 8.500%, 02/16/30		1,827
	265	Series 2000-12, Class ST, HB, IF, 38.564%, 02/16/30		571
	85	Series 2000-16, Class ZN, 7.500%, 02/16/30		87
	2,110	Series 2000-21, Class Z, 9.000%, 03/16/30		2,517
	16	Series 2000-30, Class ST, IF, 11.050%, 12/16/22		21
	309	Series 2000-31, Class Z, 9.000%, 10/20/30		357
	178	Series 2000-35, Class ZA, 9.000%, 11/20/30		190
	31	Series 2000-36, Class IK, IO, 9.000%, 11/16/30		6
	137	Series 2001-6, Class SD, IF, IO, 8.366%, 03/16/31		37
	254	Series 2001-7, Class PK, 6.500%, 03/20/31		287
	14	Series 2001-32, Class WA, IF, 19.665%, 07/20/31		23
	221	Series 2001-35, Class SA, IF, IO, 8.066%, 08/16/31		55
	184	Series 2001-36, Class S, IF, IO, 7.866%, 08/16/31		43
	923	Series 2001-64, Class MQ, 6.500%, 12/20/31		1,065
	235	Series 2002-3, Class SP, IF, IO, 7.206%, 01/16/32		52
	309	Series 2002-7, Class PG, 6.500%, 01/20/32		350
	944	Series 2002-24, Class AG, IF, IO, 7.766%, 04/16/32		209
	82	Series 2002-24, Class SB, IF, 11.649%, 04/16/32		108
	2,106	Series 2002-31, Class SE, IF, IO, 7.316%, 04/16/30		386
	604	Series 2002-40, Class UK, 6.500%, 06/20/32		689
	33	Series 2002-41, Class SV, IF, 9.000%, 06/16/32		39

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	2,264	Series 2002-45, Class QE, 6.500%, 06/20/32		2,584
	779	Series 2002-47, Class PG, 6.500%, 07/16/32		891
	1,440	Series 2002-47, Class ZA, 6.500%, 07/20/32		1,644
	43	Series 2002-51, Class SG, HB, IF, 31.702%, 04/20/31		84
	1,251	Series 2002-52, Class GH, 6.500%, 07/20/32		1,398
	697	Series 2002-70, Class PS, IF, IO, 7.516%, 08/20/32		81
	949	Series 2002-75, Class PB, 6.000%, 11/20/32		1,102
	1,030	Series 2003-11, Class SK, IF, IO, 7.516%, 02/16/33		203
	423	Series 2003-12, Class SP, IF, IO, 7.516%, 02/20/33		91
	94	Series 2003-24, Class PO, PO, 03/16/33		83
	1,319	Series 2003-40, Class TJ, 6.500%, 03/20/33		1,532
	753	Series 2003-46, Class MG, 6.500%, 05/20/33		882
	1,174	Series 2003-46, Class TC, 6.500%, 03/20/33		1,333
	370	Series 2003-52, Class AP, PO, 06/16/33		335
	2,148	Series 2003-58, Class BE, 6.500%, 01/20/33		2,441
	189	Series 2003-76, Class LS, IF, IO, 7.016%, 09/20/31		5
	113	Series 2003-90, Class PO, PO, 10/20/33		89
	1,388	Series 2003-112, Class SA, IF, IO, 6.366%, 12/16/33		237
	1,496	Series 2003-112, Class TS, IF, IO, 6.766%, 10/20/32		132
	4,059	Series 2004-11, Class SW, IF, IO, 5.316%, 02/20/34		540
	217	Series 2004-15, Class SA, IF, 19.156%, 12/20/32		255
	497	Series 2004-28, Class S, IF, 19.156%, 04/16/34		733
	159	Series 2004-68, Class PO, PO, 05/20/31		159
	192	Series 2004-73, Class AE, IF, 14.475%, 08/17/34		239
	2,267	Series 2004-90, Class SI, IF, IO, 5.916%, 10/20/34		261
	1,571	Series 2005-3, Class SB, IF, IO, 5.916%, 01/20/35		179

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 23

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	3,906	Series 2005-17, Class SL, IF, IO, 6.516%, 07/20/34		738
	378	Series 2005-35, Class FL, VAR, 0.534%, 03/20/32		379
	124	Series 2005-39, Class KI, IO, 5.500%, 03/20/34		10
	3,196	Series 2005-58, Class NI, IO, 5.500%, 08/20/35		779
	416	Series 2005-68, Class DP, IF, 15.990%, 06/17/35		547
	5,636	Series 2005-68, Class KI, IF, IO, 6.116%, 09/20/35		843
	835	Series 2005-69, Class SY, IF, IO, 6.566%, 11/20/33		129
	731	Series 2005-91, Class PI, IO, 6.000%, 12/20/35		132
	391	Series 2006-16, Class OP, PO, 03/20/36		347
	114	Series 2006-28, Class GO, PO, 03/20/35		114
	1,215	Series 2006-38, Class SW, IF, IO, 6.316%, 06/20/36		150
	1,332	Series 2006-59, Class SD, IF, IO, 6.516%, 10/20/36		239
	2,286	Series 2006-65, Class SA, IF, IO, 6.616%, 11/20/36		420
	1,348	Series 2007-9, Class DI, IF, IO, 6.326%, 03/20/37		225
	2,970	Series 2007-17, Class JI, IF, IO, 6.626%, 04/16/37		574
	318	Series 2007-17, Class JO, PO, 04/16/37		282
	1,985	Series 2007-19, Class SD, IF, IO, 6.016%, 04/20/37		273
	2,019	Series 2007-26, Class SC, IF, IO, 6.016%, 05/20/37		279
	1,406	Series 2007-27, Class SA, IF, IO, 6.016%, 05/20/37		194
	477	Series 2007-28, Class BO, PO, 05/20/37		439
	1,219	Series 2007-36, Class SE, IF, IO, 6.286%, 06/16/37		179
	3,473	Series 2007-40, Class SB, IF, IO, 6.566%, 07/20/37		640
	2,107	Series 2007-42, Class SB, IF, IO, 6.566%, 07/20/37		393
	2,500	Series 2007-47, Class PH, 6.000%, 07/16/37		2,925
	45	Series 2007-49, Class NO, PO, 12/20/35		45
	1,561	Series 2007-50, Class AI, IF, IO, 6.591%, 08/20/37		288
	223	Series 2007-53, Class SW, IF, 19.653%, 09/20/37		320

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	929	Series 2007-57, Class PO, PO, 03/20/37		880
	1,204	Series 2007-57, Class QA, IF, IO, 6.316%, 10/20/37		180
	1,492	Series 2007-71, Class SB, IF, IO, 6.516%, 07/20/36		166
	1,156	Series 2007-72, Class US, IF, IO, 6.366%, 11/20/37		163
	1,165	Series 2007-73, Class MI, IF, IO, 5.816%, 11/20/37		153
	2,287	Series 2007-76, Class SA, IF, IO, 6.346%, 11/20/37		322
	1,191	Series 2007-79, Class SY, IF, IO, 6.366%, 12/20/37		168
	733	Series 2007-81, Class SP, IF, IO, 6.466%, 12/20/37		132
	1,317	Series 2007-82, Class SA, IF, IO, 6.346%, 12/20/37		186
	637	Series 2008-2, Class MS, IF, IO, 6.976%, 01/16/38		101
	2,123	Series 2008-2, Class NS, IF, IO, 6.356%, 01/16/38		304
	1,253	Series 2008-10, Class S, IF, IO, 5.646%, 02/20/38		174
	291	Series 2008-23, Class IO, IO, 6.000%, 02/20/37		22
	908	Series 2008-25, Class SB, IF, IO, 6.716%, 03/20/38		137
	852	Series 2008-32, Class PI, IO, 5.500%, 10/16/37		99
	1,743	Series 2008-36, Class SH, IF, IO, 6.116%, 04/20/38		247
	7,703	Series 2008-40, Class SA, IF, IO, 6.216%, 05/16/38		1,265
	1,732	Series 2008-41, Class SA, IF, IO, 6.156%, 05/20/38		239
	1,138	Series 2008-55, Class SA, IF, IO, 6.016%, 06/20/38		162
	428	Series 2008-60, Class PO, PO, 01/20/38		419
	2,000	Series 2008-65, Class ME, 5.750%, 09/20/37		2,090
	606	Series 2008-71, Class SC, IF, IO, 5.816%, 08/20/38		79
	1,240	Series 2008-93, Class AS, IF, IO, 5.516%, 12/20/38		169
	2,117	Series 2009-6, Class SA, IF, IO, 5.916%, 02/16/39		267
	1,273	Series 2009-10, Class SL, IF, IO, 6.316%, 03/16/34		124

SEE NOTES TO FINANCIAL STATEMENTS.

24 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	3,000	Series 2009-12, Class IE, IO, 5.500%, 03/20/39		459
	1,278	Series 2009-14, Class KI, IO, 6.500%, 03/20/39		241
	1,159	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		217
	3,356	Series 2009-22, Class SA, IF, IO, 6.086%, 04/20/39		474
	963	Series 2009-25, Class SE, IF, IO, 7.416%, 09/20/38		163
	826	Series 2009-33, Class CI, IO, 5.500%, 05/20/39		127
	786	Series 2009-33, Class TI, IO, 6.000%, 05/20/39		169
	309	Series 2009-38, Class IO, IO, 5.000%, 09/16/31		10
	1,410	Series 2009-43, Class SA, IF, IO, 5.766%, 06/20/39		174
	1,181	Series 2009-65, Class IQ, IO, 6.000%, 12/20/38		201
	2,851	Series 2009-72, Class SM, IF, IO, 6.066%, 08/16/39		372
	583	Series 2009-79, Class OK, PO, 11/16/37		525
	700	Series 2010-14, Class CO, PO, 08/20/35		587
	659	Series 2010-130, Class CP, 7.000%, 10/16/40		767
	4,222	Series 2010-157, Class OP, PO, 12/20/40		3,440
	3,510	Series 2010-H17, Class XQ, VAR, 5.245%, 07/20/60		3,959
	1,398	Series 2011-22, Class WA, VAR, 5.945%, 02/20/37		1,541
	3,523	Series 2011-75, Class SM, IF, IO, 6.416%, 05/20/41		576
	3,413	Series 2012-61, Class FM, VAR, 0.584%, 05/16/42		3,420
	995	Series 2012-141, Class WC, VAR, 3.766%, 01/20/42		1,028
	4,751	Series 2012-H10, Class FA, VAR, 0.745%, 12/20/61		4,740
	2,827	Series 2012-H15, Class FA, VAR, 0.645%, 05/20/62		2,818
	3,449	Series 2012-H21, Class CF, VAR, 0.895%, 05/20/61		3,460
	2,978	Series 2012-H21, Class DF, VAR, 0.845%, 05/20/61		2,983
	4,914	Series 2012-H22, Class FD, VAR, 0.665%, 01/20/61		4,893
	1,815	Series 2012-H24, Class FA, VAR, 0.645%, 03/20/60		1,810

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	3,806	Series 2012-H24, Class FG, VAR, 0.625%, 04/20/60		3,791
	1,978	Series 2012-H26, Class MA, VAR, 0.745%, 07/20/62		1,975
	2,873	Series 2012-H28, Class FA, VAR, 0.775%, 09/20/62		2,871
	4,427	Series 2012-H30, Class PA, VAR, 0.645%, 11/20/59		4,414
	2,384	Series 2012-H31, Class FD, VAR, 0.535%, 12/20/62		2,356
	4,752	Series 2013-54, Class WA, VAR, 4.710%, 11/20/42		5,085
	3,774	Series 2013-75, Class WA, VAR, 5.247%, 06/20/40		4,203
	1,894	Series 2013-91, Class WA, 4.531%, 04/20/43		2,047
	3,127	Series 2013-H01, Class FA, 1.650%, 01/20/63		3,018
	1,856	Series 2013-H03, Class FA, VAR, 0.495%, 08/20/60		1,845
	1,506	Series 2013-H04, Class BA, 1.650%, 02/20/63		1,452
	4,945	Series 2013-H05, Class FB, VAR, 0.595%, 02/20/62		4,913
	1,992	Series 2013-H07, Class HA, VAR, 0.605%, 03/20/63		1,972
	10,026	Series 2013-H07, Class JA, 1.750%, 03/20/63		9,692
	1,982	Series 2013-H08, Class FC, VAR, 0.645%, 02/20/63		1,966
	2,009	Series 2013-H09, Class HA, 1.650%, 04/20/63		1,934
		Vendee Mortgage Trust,
	548	Series 1994-1, Class 1, VAR, 5.619%, 02/15/24		604
	899	Series 1994-1, Class 2ZB, 6.500%, 02/15/24		990
	794	Series 1996-1, Class 1Z, 6.750%, 02/15/26		893
	579	Series 1996-2, Class 1Z, 6.750%, 06/15/26		671
	1,123	Series 1997-1, Class 2Z, 7.500%, 02/15/27		1,277
	1,347	Series 1998-1, Class 2E, 7.000%, 09/15/27		1,540
	2,575	Series 1999-1, Class 2Z, 6.500%, 01/15/29		2,932
				646,497
		Non-Agency CMO — 9.0%
	321	AAM ACE Resecuritization Trust, Series 2011-1, Class A20, VAR, 0.411%, 02/02/37 (e)		312
	96	ABN Amro Mortgage Corp., Series 2003-8, Class A3, 4.500%, 06/25/33		96

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 25

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	2,799	AJAX Mortgage Loan Trust, Series 2013-A, Class A, VAR, 3.500%, 02/25/51 (e) (i)		2,766
		Alternative Loan Trust,
	297	Series 2002-8, Class A4, 6.500%, 07/25/32		306
	12,910	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		12,704
	909	Series 2004-18CB, Class 2A4, 5.700%, 09/25/34		923
	2,361	Series 2005-1CB, Class 1A6, IF, IO, 6.916%, 03/25/35		445
	5,313	Series 2005-20CB, Class 3A8, IF, IO, 4.566%, 07/25/35		671
	9,065	Series 2005-22T1, Class A2, IF, IO, 4.886%, 06/25/35		1,454
	5,500	Series 2005-28CB, Class 1A4, 5.500%, 08/25/35		5,174
	188	Series 2005-28CB, Class 3A5, 6.000%, 08/25/35		149
	7,261	Series 2005-37T1, Class A2, IF, IO, 4.866%, 09/25/35		1,044
	4,854	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		4,389
	12,205	Series 2005-54CB, Class 1A2, IF, IO, 4.666%, 11/25/35		1,677
	3,079	Series 2005-57CB, Class 3A2, IF, IO, 4.916%, 12/25/35		486
	1,847	Series 2005-64CB, Class 1A9, 5.500%, 12/25/35		1,601
	7,612	Series 2005-J1, Class 1A4, IF, IO, 4.916%, 02/25/35		789
	2,698	Series 2006-26CB, Class A9, 6.500%, 09/25/36		2,107
	182	Alternative Loan Trust Resecuritization, Series 2005-5R, Class A1, 5.250%, 12/25/18		184
		American General Mortgage Loan Trust,
	943	Series 2009-1, Class A5, VAR, 5.750%, 09/25/48 (e)		939
	4,500	Series 2009-1, Class A7, VAR, 5.750%, 09/25/48 (e)		4,611
	463	Series 2010-1A, Class A1, VAR, 5.150%, 03/25/58 (e)		469
	718	Series 2010-1A, Class A2, VAR, 5.650%, 03/25/58 (e)		748
	1,140	Series 2010-1A, Class A3, VAR, 5.650%, 03/25/58 (e)		1,187
	473	Series 2010-1A, Class A4, VAR, 5.650%, 03/25/58 (e)		493
		ASG Resecuritization Trust,

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	871	Series 2009-1, Class A60, VAR, 2.223%, 05/26/39 (e)		859
	978	Series 2009-2, Class A55, VAR, 4.863%, 05/24/36 (e)		1,000
	1,000	Series 2009-2, Class G60, VAR, 4.863%, 05/24/36 (e)		1,051
	4,092	Series 2009-3, Class A65, VAR, 2.298%, 03/26/37 (e)		4,106
	3,197	Series 2009-4, Class A60, 6.000%, 06/28/37 (e)		3,242
	973	Series 2010-2, Class A60, VAR, 2.075%, 01/28/37 (e)		957
	333	Series 2010-3, Class 2A22, VAR, 0.411%, 10/30/36 (e)		330
	877	Series 2011-1, Class 3A50, VAR, 2.528%, 11/29/35 (e)		860
		Banc of America Alternative Loan Trust,
	203	Series 2003-2, Class PO, PO, 04/25/33		174
	341	Series 2003-9, Class 1CB2, 5.500%, 11/25/33		348
	332	Series 2003-11, Class PO, PO, 01/25/34		246
	199	Series 2004-6, Class 15PO, PO, 07/25/19		181
	1,628	Series 2005-5, Class 1CB1, 5.500%, 06/25/35		1,524
	4,720	Series 2005-6, Class CBIO, IO, 5.500%, 07/25/35		754
	1,375	Series 2006-4, Class 1A4, 6.000%, 05/25/46		881
	2,690	Banc of America Funding Corp., Series 2012-R6, Class 1A1, 3.000%, 10/26/39 (e) (i)		2,659
		Banc of America Funding Trust,
	415	Series 2004-1, Class PO, PO, 03/25/34		374
	638	Series 2004-2, Class 30PO, PO, 09/20/34		566
	466	Series 2004-C, Class 1A1, VAR, 5.066%, 12/20/34		460
	1,018	Series 2005-6, Class 2A7, 5.500%, 10/25/35		1,001
	669	Series 2005-7, Class 30PO, PO, 11/25/35		518
	447	Series 2005-8, Class 30PO, PO, 01/25/36		330
	1,666	Series 2005-E, Class 4A1, VAR, 2.688%, 03/20/35		1,657
	648	Series 2006-A, Class 3A2, VAR, 2.855%, 02/20/36		501
	947	Series 2010-R5, Class 1A1, 5.500%, 10/27/37 (e)		964
		Banc of America Mortgage Trust,

SEE NOTES TO FINANCIAL STATEMENTS.

26 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	147	Series 2003-3, Class 2A1, VAR, 0.734%, 05/25/18		142
	163	Series 2003-6, Class 2A1, VAR, 0.634%, 08/25/18		158
	62	Series 2003-7, Class A2, 4.750%, 09/25/18		64
	183	Series 2003-8, Class APO, PO, 11/25/33		155
	1,283	Series 2004-3, Class 15IO, IO, VAR, 0.265%, 04/25/19		5
	85	Series 2004-4, Class APO, PO, 05/25/34		71
	2,154	Series 2004-5, Class 2A2, 5.500%, 06/25/34		2,224
	620	Series 2004-6, Class 2A5, PO, 07/25/34		502
	345	Series 2004-6, Class APO, PO, 07/25/34		286
	36	Series 2004-8, Class 5PO, PO, 05/25/32		33
	46	Series 2004-8, Class XPO, PO, 10/25/34		39
	312	Series 2004-A, Class 2A2, VAR, 2.976%, 02/25/34		305
	1,302	Series 2004-J, Class 3A1, VAR, 3.463%, 11/25/34		1,274
	1,524	Series 2005-10, Class 1A6, 5.500%, 11/25/35		1,523
		BCAP LLC Trust,
	567	Series 2009-RR13, Class 17A2, VAR, 5.500%, 04/26/37 (e)		594
	694	Series 2009-RR5, Class 8A1, 5.500%, 11/28/34 (e)		706
	814	Series 2010-RR12, Class 2A5, VAR, 4.500%, 01/28/36 (e)		829
	520	Series 2010-RR4, Class 12A1, VAR, 4.000%, 07/26/36 (e)		522
	33	Series 2010-RR4, Class 2A1, VAR, 0.934%, 06/26/37 (e)		33
	903	Series 2010-RR6, Class 22A3, VAR, 4.715%, 06/26/36 (e)		941
	95	Series 2010-RR6, Class 5A1, VAR, 4.658%, 11/27/37 (e)		95
	380	Series 2010-RR7, Class 15A1, VAR, 0.984%, 01/28/36 (e)		371
	764	Series 2010-RR7, Class 16A1, VAR, 0.862%, 02/26/47 (e)		743
	419	Series 2010-RR7, Class 1A5, VAR, 4.982%, 04/26/35 (e)		411
	2,307	Series 2010-RR7, Class 2A1, VAR, 2.278%, 07/26/45 (e)		2,236
	447	Series 2010-RR8, Class 3A3, VAR, 5.060%, 05/29/35 (e)		460
	1,500	Series 2010-RR8, Class 3A4, VAR, 5.060%, 05/26/35 (e)		1,423

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	1,470	Series 2011-R11, Class 25A5, VAR, 4.000%, 08/26/21 (e)		1,503
	2,456	Series 2011-RR10, Class 2A1, VAR, 1.076%, 09/26/37 (e)		2,213
	2,005	Series 2011-RR4, Class 6A3, VAR, 5.000%, 08/26/37 (e)		1,935
	2,366	Series 2011-RR5, Class 11A3, VAR, 0.334%, 05/28/36 (e)		2,184
	1,046	Series 2011-RR5, Class 14A3, VAR, 2.704%, 07/26/36 (e)		1,044
	1,602	Series 2012-RR10, Class 3A1, VAR, 0.374%, 05/28/36 (e)		1,492
	2,157	Series 2012-RR2, Class 1A1, VAR, 0.354%, 08/26/36 (e)		2,084
	1,525	Series 2012-RR3, Class 2A5, VAR, 2.312%, 05/27/37 (e)		1,507
		Bear Stearns ARM Trust,
	199	Series 2003-7, Class 3A, VAR, 2.529%, 10/25/33		197
	850	Series 2004-1, Class 12A1, VAR, 2.945%, 04/25/34		827
	254	Series 2004-2, Class 14A, VAR, 5.051%, 05/25/34		252
	1,966	Series 2005-5, Class A1, VAR, 2.210%, 08/25/35		1,945
	4,416	Series 2006-1, Class A1, VAR, 2.430%, 02/25/36		4,229
	2,819	CAM Mortgage Trust, Series 2013-1, Class A, VAR, 3.967%, 11/25/57 (e) (i)		2,775
		CHL Mortgage Pass-Through Trust,
	1,039	Series 2003-26, Class 1A6, 3.500%, 08/25/33		1,038
	164	Series 2003-44, Class A9, PO, 10/25/33		164
	344	Series 2003-J7, Class 4A3, IF, 9.535%, 08/25/18		360
	611	Series 2004-7, Class 2A1, VAR, 2.701%, 06/25/34		593
	515	Series 2004-8, Class 2A1, 4.500%, 06/25/19		531
	243	Series 2004-HYB1, Class 2A, VAR, 2.787%, 05/20/34		226
	932	Series 2004-HYB3, Class 2A, VAR, 2.564%, 06/20/34		851
	757	Series 2004-HYB6, Class A3, VAR, 2.838%, 11/21/34		691
	356	Series 2004-J8, Class 1A2, 4.750%, 11/25/19		366
	1,784	Series 2005-16, Class A23, 5.500%, 09/25/35		1,720

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 27

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	3,732	Series 2005-22, Class 2A1, VAR, 2.977%, 11/25/35		2,964
		Citicorp Mortgage Securities REMIC Pass-Through Certificates Trust,
	200	Series 2005-5, Class APO, PO, 08/25/35		161
	221	Series 2005-8, Class APO, PO, 11/25/35		171
	403	Citicorp Mortgage Securities, Inc., Series 2004-5, Class 2A5, 4.500%, 08/25/34		416
		Citigroup Mortgage Loan Trust,
	1,526	Series 2008-AR4, Class 1A1A, VAR, 2.912%, 11/25/38 (e)		1,547
	710	Series 2009-10, Class 2A1A, 7.000%, 12/25/35 (e)		731
	6,881	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		6,933
	7,444	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		7,622
	138	Series 2011-3, Class 1A1, VAR, 0.264%, 02/25/47 (e)		138
	513	Series 2011-10, Class 4A1, VAR, 0.383%, 02/25/46 (e)		492
		Citigroup Mortgage Loan Trust, Inc.,
	375	Series 2003-1, Class 2A5, 5.250%, 10/25/33		383
	194	Series 2003-1, Class 2A6, PO, 10/25/33		170
	140	Series 2003-1, Class PO2, PO, 10/25/33		123
	141	Series 2003-1, Class PO3, PO, 09/25/33		123
	119	Series 2003-UP3, Class A3, 7.000%, 09/25/33		123
	262	Series 2003-UST1, Class A1, 5.500%, 12/25/18		273
	60	Series 2003-UST1, Class PO1, PO, 12/25/18		55
	49	Series 2003-UST1, Class PO3, PO, 12/25/18		45
	170	Series 2004-UST1, Class A6, VAR, 4.116%, 08/25/34		168
	481	Series 2005-1, Class 2A1A, VAR, 2.792%, 04/25/35		371
	624	Series 2005-2, Class 2A11, 5.500%, 05/25/35		625
	558	Series 2005-5, Class 1A2, VAR, 3.714%, 08/25/35		364
	556	Series 2012-A, Class A, 2.500%, 06/25/51 (e) (i)		539
		Credit Suisse First Boston Mortgage Securities Corp.,
	725	Series 2003-1, Class DB1, 6.564%, 02/25/33		737

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	149	Series 2003-17, Class 2A1, 5.000%, 07/25/18		153
	461	Series 2003-21, Class 1A4, 5.250%, 09/25/33		476
	543	Series 2003-25, Class 1P, PO, 10/25/33		467
	55	Series 2004-5, Class 5P, PO, 08/25/19		50
	2,028	Series 2005-4, Class 3A18, 5.500%, 06/25/35		1,997
	1,102	Series 2005-4, Class 3A22, 5.500%, 06/25/35		1,094
	2,257	Series 2005-4, Class 3A23, 5.500%, 06/25/35		2,175
		CSMC,
	627	Series 2010-16, Class A3, VAR, 3.946%, 06/25/50 (e)		621
	209	Series 2010-1R, Class 26A1, 4.750%, 05/28/37 (e)		207
	9,758	Series 2010-11R, Class A6, VAR, 1.186%, 06/30/47 (e)		9,065
	370	Series 2010-12R, Class 14A1, VAR, 2.631%, 09/26/46 (e)		369
	43	Series 2010-15R, Class 7A2, VAR, 1.230%, 10/27/37 (e)		43
	2,213	Series 2011-1R, Class A1, VAR, 1.184%, 02/27/47 (e)		2,200
	992	Series 2011-6R, Class 3A1, VAR, 2.736%, 07/28/36 (e)		966
	2,183	Series 2011-7R, Class A1, VAR, 1.434%, 08/28/47 (e)		2,175
	1,652	Series 2011-9R, Class A1, VAR, 2.184%, 03/28/46 (e)		1,651
	2,420	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		2,459
	1,201	Series 2012-3R, Class 1A1, VAR, 3.250%, 02/27/42 (e)		1,198
	304	Deutsche Mortgage Securities, Inc., Mortgage Loan Resecuritization Trust, Series 2009-RS2, Class 4A1, VAR, 0.320%, 04/28/37 (e)		298
	8	First Boston Mortgage Securities Corp. 1987 STRIPS, Series C, Class PO, PO, 04/25/17		8
		First Horizon Alternative Mortgage Securities Trust,
	1,231	Series 2004-AA4, Class A1, VAR, 2.349%, 10/25/34		1,176
	1,939	Series 2005-FA8, Class 1A19, 5.500%, 11/25/35		1,692
	3,170	Series 2007-FA4, Class 1A2, IF, IO, 5.466%, 08/25/37		537

SEE NOTES TO FINANCIAL STATEMENTS.

28 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
		First Horizon Mortgage Pass-Through Trust,
	2,802	Series 2003-9, Class 1A6, 5.500%, 11/25/33		2,905
	864	Series 2004-AR2, Class 2A1, VAR, 2.627%, 05/25/34		846
	1,704	Series 2005-AR1, Class 2A2, VAR, 2.658%, 04/25/35		1,687
	835	Freedom Trust, Series 2011-4, Class A18, VAR, 4.869%, 03/25/37 (e)		843
		GMACM Mortgage Loan Trust,
	835	Series 2003-AR1, Class A4, VAR, 3.145%, 10/19/33		839
	398	Series 2004-J5, Class A7, 6.500%, 01/25/35		423
	166	Series 2004-J6, Class 1A1, 5.000%, 01/25/20		171
	5,354	Series 2005-AR3, Class 3A4, VAR, 3.309%, 06/19/35		5,014
		GSMPS Mortgage Loan Trust,
	1,043	Series 2001-2, Class A, VAR, 7.500%, 06/19/32 (e)		1,097
	1,522	Series 2005-RP3, Class 1AF, VAR, 0.534%, 09/25/35 (e)		1,261
	1,150	Series 2005-RP3, Class 1AS, IO, VAR, 4.893%, 09/25/35 (e)		169
	5,016	Series 2006-RP2, Class 1AS2, IF, IO, 4.925%, 04/25/36 (e)		689
		GSR Mortgage Loan Trust,
	791	Series 2004-6F, Class 3A4, 6.500%, 05/25/34		850
	978	Series 2004-8F, Class 2A3, 6.000%, 09/25/34		1,023
	617	Series 2004-13F, Class 3A3, 6.000%, 11/25/34		610
	328	Series 2005-4F, Class AP, PO, 05/25/35		281
	3,743	Series 2005-7F, Class 3A9, 6.000%, 09/25/35		3,804
	4,054	Series 2006-1F, Class 2A4, 6.000%, 02/25/36		3,679
	3,931	Series 2007-1F, Class 2A4, 5.500%, 01/25/37		3,846
	4,893	Homeowner Assistance Program Reverse Mortgage Loan Trust, Series 2013-RM1, Class A, 4.000%, 05/25/53 (e) (i)		4,746
	434	Impac CMB Trust, Series 2005-4, Class 2A1, VAR, 0.484%, 05/25/35		430
		Impac Secured Assets Trust,
	823	Series 2006-1, Class 2A1, VAR, 0.534%, 05/25/36		801

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	1,050	Series 2006-2, Class 2A1, VAR, 0.534%, 08/25/36		1,001
	16,903	Indymac Index Mortgage Loan Trust, Series 2005-AR11, Class A7, IO, VAR, 0.000%, 08/25/35		3
		JP Morgan Mortgage Trust,
	1,756	Series 2006-A2, Class 4A1, VAR, 2.735%, 08/25/34		1,727
	2,326	Series 2006-A2, Class 5A3, VAR, 2.849%, 11/25/33		2,316
	450	Series 2006-A3, Class 6A1, VAR, 2.769%, 08/25/34		438
	601	JP Morgan Resecuritization Trust, Series 2009-6, Class 4A1, VAR, 3.154%, 09/26/36 (e)		611
		Lehman Mortgage Trust,
	815	Series 2006-2, Class 1A1, VAR, 6.363%, 04/25/36		773
	1,534	Series 2008-2, Class 1A6, 6.000%, 03/25/38		1,468
	1,000	LVII Resecuritization Trust, Series 2009-3, Class M3, VAR, 5.441%, 11/30/37 (e)		1,031
		MASTR Adjustable Rate Mortgages Trust,
	92	Series 2004-4, Class 2A1, VAR, 2.007%, 05/25/34		78
	994	Series 2004-13, Class 2A1, VAR, 2.672%, 04/21/34		1,006
	2,475	Series 2004-13, Class 3A7, VAR, 2.622%, 11/21/34		2,525
	405	Series 2004-15, Class 3A1, VAR, 3.311%, 12/25/34		385
		MASTR Alternative Loan Trust,
	220	Series 2003-3, Class 1A1, 6.500%, 05/25/33		230
	654	Series 2003-9, Class 8A1, 6.000%, 01/25/34		670
	772	Series 2004-3, Class 2A1, 6.250%, 04/25/34		788
	1,174	Series 2004-4, Class 10A1, 5.000%, 05/25/24		1,218
	519	Series 2004-6, Class 30PO, PO, 07/25/34		434
	761	Series 2004-6, Class 7A1, 6.000%, 07/25/34		781
	388	Series 2004-7, Class 30PO, PO, 08/25/34		300
	1,585	Series 2004-8, Class 6A1, 5.500%, 09/25/19		1,654
	247	Series 2004-10, Class 1A1, 4.500%, 09/25/19		252

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 29

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
		MASTR Asset Securitization Trust,
	91	Series 2003-2, Class 2A1, 4.500%, 03/25/18		91
	22	Series 2003-3, Class 4A1, 5.000%, 04/25/18		23
	133	Series 2003-4, Class 3A2, 5.000%, 05/25/18		136
	137	Series 2003-12, Class 30PO, PO, 12/25/33		121
	117	Series 2004-1, Class 30PO, PO, 02/25/34		101
	49	Series 2004-4, Class 3A1, 4.500%, 04/25/19		50
	72	Series 2004-6, Class 15PO, PO, 07/25/19		66
	93	Series 2004-8, Class 1A1, 4.750%, 08/25/19		95
	46	Series 2004-8, Class PO, PO, 08/25/19		42
	3,006	MASTR Reperforming Loan Trust, Series 2005-2, Class 1A1F, VAR, 0.534%, 05/25/35 (e)		2,541
	1,479	MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		1,183
		Merrill Lynch Mortgage Investors Trust,
	434	Series 2003-E, Class A1, VAR, 0.804%, 10/25/28		411
	984	Series 2004-1, Class 2A1, VAR, 2.209%, 12/25/34		970
	800	Series 2004-A, Class A1, 0.644%, 04/25/29		749
	44	ML Trust XLVII, Series 47, Class Z, 8.985%, 10/20/20		48
	729	MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.504%, 02/25/35		678
	554	NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		568
		Nomura Asset Acceptance Corp. Alternative Loan Trust,
	273	Series 2003-A1, Class A1, 5.500%, 05/25/33		278
	126	Series 2003-A1, Class A2, 6.000%, 05/25/33		132
	61	Series 2003-A1, Class A5, 7.000%, 04/25/33		64
	8	Series 2003-A1, Class A7, 5.000%, 04/25/18		8
		PaineWebber CMO Trust,
	2	Series H, Class 4, 8.750%, 04/01/18		2
	10	Series P, Class 4, 8.500%, 08/01/19		11
	458	Provident Funding Mortgage Loan Trust, Series 2005-1, Class 2A1, VAR, 2.747%, 05/25/35		458

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
		RALI Trust,
	133	Series 2002-QS16, Class A3, IF, 16.238%, 10/25/17		139
	435	Series 2002-QS8, Class A5, 6.250%, 06/25/17		444
	5,137	Series 2003-QR19, Class CB4, 5.750%, 10/25/33		5,303
	850	Series 2003-QS12, Class A2A, IF, IO, 7.416%, 06/25/18		93
	259	Series 2003-QS12, Class A5, IO, 5.000%, 06/25/18		19
	1,795	Series 2003-QS14, Class A1, 5.000%, 07/25/18		1,831
	565	Series 2003-QS18, Class A1, 5.000%, 09/25/18		581
	1,787	Series 2003-QS19, Class A1, 5.750%, 10/25/33		1,907
	360	Series 2003-QS3, Class A2, IF, 16.095%, 02/25/18		393
	232	Series 2003-QS3, Class A8, IF, IO, 7.416%, 02/25/18		14
	905	Series 2003-QS9, Class A3, IF, IO, 7.366%, 05/25/18		108
	2,432	Series 2004-QA6, Class NB2, VAR, 3.165%, 12/25/34		2,096
		RBSSP Resecuritization Trust,
	576	Series 2009-2, Class 1A1, 7.000%, 08/26/37 (e)		598
	355	Series 2009-6, Class 15A1, 5.500%, 01/26/21 (e)		357
	789	Series 2009-9, Class 7A4, VAR, 6.000%, 07/26/37 (e)		791
	1,163	Series 2009-12, Class 1A1, VAR, 5.955%, 11/26/33 (e)		1,202
	1,094	Series 2010-9, Class 7A5, VAR, 4.000%, 05/26/37 (e)		1,117
	392	Series 2010-12, Class 8A1, 4.000%, 06/27/21 (e)		397
		Residential Asset Securitization Trust,
	465	Series 2003-A13, Class A3, 5.500%, 01/25/34		478
	37	Series 2003-A14, Class A1, 4.750%, 02/25/19		38
	3,344	Series 2005-A2, Class A4, IF, IO, 4.866%, 03/25/35		540
	947	Series 2006-A4, Class 2A5, 6.000%, 05/25/36		807

SEE NOTES TO FINANCIAL STATEMENTS.

30 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
		RFMSI Trust,
	1,026	Series 2003-S13, Class A3, 5.500%, 06/25/33		1,029
	152	Series 2003-S14, Class A4, PO, 07/25/18		141
	315	Series 2004-S3, Class A1, 4.750%, 03/25/19		322
	680	Series 2004-S6, Class 2A6, PO, 06/25/34		586
	137	Series 2004-S9, Class 2A1, 4.750%, 12/25/19		140
	886	Series 2005-SA4, Class 1A1, VAR, 2.875%, 09/25/35		715
	30	RFSC Trust, Series 2003-RM2, Class AP-3, PO, 05/25/33		26
		Salomon Brothers Mortgage Securities VII, Inc.,
	362	Series 2003-HYB1, Class A, VAR, 3.079%, 09/25/33		360
	56	Series 2003-UP2, Class PO1, PO, 12/25/18		51
		Springleaf Mortgage Loan Trust,
	1,898	Series 2011-1A, Class A1, VAR, 4.050%, 01/25/58 (e)		1,958
	2,100	Series 2011-1A, Class A2, VAR, 5.450%, 01/25/58 (e)		2,200
	762	Series 2012-1A, Class A, VAR, 2.667%, 09/25/57 (e)		776
	1,600	Series 2012-1A, Class M3, VAR, 6.000%, 09/25/57 (e)		1,681
	3,195	Series 2012-2A, Class A, VAR, 2.220%, 10/25/57 (e)		3,236
	2,000	Series 2012-2A, Class M4, VAR, 6.000%, 10/25/57 (e)		2,071
	3,856	Series 2012-3A, Class A, VAR, 1.570%, 12/25/59 (e)		3,820
	1,130	Series 2012-3A, Class M1, VAR, 2.660%, 12/25/59 (e)		1,111
	589	Series 2012-3A, Class M2, VAR, 3.560%, 12/25/59 (e)		574
	455	Series 2012-3A, Class M3, VAR, 4.440%, 12/25/59 (e)		446
	267	Series 2012-3A, Class M4, VAR, 5.300%, 12/25/59 (e)		265
	2,878	Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		2,827
	1,116	Series 2013-1A, Class M1, VAR, 2.310%, 06/25/58 (e)		1,067
	900	Series 2013-1A, Class M2, VAR, 3.140%, 06/25/58 (e)		864
	634	Series 2013-1A, Class M3, VAR, 3.790%, 06/25/58 (e)		599

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	4,199	Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		4,157
	1,058	Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		1,020
	2,396	Structured Adjustable Rate Mortgage Loan Trust, Series 2004-6, Class 5A4, VAR, 4.885%, 06/25/34		2,390
	881	Structured Asset Mortgage Investments II Trust, Series 2004-AR5, Class 1A1, VAR, 0.844%, 10/19/34		863
		Structured Asset Securities Corp. Mortgage Pass-Through Certificates,
	1,077	Series 2003-33H, Class 1A1, 5.500%, 10/25/33		1,104
	1,919	Series 2004-5H, Class A4, 5.540%, 12/25/33		1,974
		Structured Asset Securities Corp. Trust,
	270	Series 2005-6, Class 4A1, 5.000%, 05/25/35		273
	360	Series 2005-10, Class 5A9, 5.250%, 12/25/34		351
		Thornburg Mortgage Securities Trust,
	628	Series 2003-4, Class A1, VAR, 0.824%, 09/25/43		597
	590	Series 2004-4, Class 3A, VAR, 2.232%, 12/25/44		578
		Vericrest Opportunity Loan Transferee,
	1,389	Series 2012-NL2A, Class A1, 2.487%, 02/26/52 (e)		1,392
	3,100	Series 2012-NL3A, Class A, VAR, 2.734%, 11/25/60 (e)		3,077
	1,593	Series 2013-1A, Class A, VAR, 3.105%, 11/25/50 (e)		1,594
		WaMu Mortgage Pass-Through Certificates,
	208	Series 2003-AR8, Class A, VAR, 2.448%, 08/25/33		208
	3,353	Series 2003-AR9, Class 1A6, VAR, 2.428%, 09/25/33		3,355
	520	Series 2003-AR9, Class 2A, VAR, 2.456%, 09/25/33		517
	360	Series 2003-S8, Class A6, 4.500%, 09/25/18		369
	1,773	Series 2003-S9, Class A8, 5.250%, 10/25/33		1,837
	166	Series 2003-S9, Class P, PO, 10/25/33		145
	280	Series 2004-AR3, Class A1, VAR, 2.457%, 06/25/34		282
	235	Series 2004-AR3, Class A2, VAR, 2.457%, 06/25/34		236

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 31

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	2,727	Series 2004-RS2, Class A4, 5.000%, 11/25/33		2,722
	362	Series 2006-AR10, Class 2P, VAR, 3.282%, 09/25/36		213
	267	Series 2006-AR12, Class 2P, VAR, 4.328%, 10/25/36		165
		Washington Mutual Mortgage Pass-Through Certificates WMALT,
	10,977	Series 2005-2, Class 1A4, IF, IO, 4.866%, 04/25/35		1,737
	2,322	Series 2005-2, Class 2A3, IF, IO, 4.816%, 04/25/35		336
	2,905	Series 2005-3, Class CX, IO, 5.500%, 05/25/35		785
	3,416	Series 2005-4, Class CB7, 5.500%, 06/25/35		3,150
	2,857	Series 2005-4, Class CX, IO, 5.500%, 06/25/35		728
	833	Series 2005-6, Class 2A4, 5.500%, 08/25/35		760
	5,326	Series 2005-6, Class 2A9, 5.500%, 08/25/35		4,761
	1,269	Wedgewood Real Estate Trust, Series 2013-1A, Class A, VAR, 3.967%, 07/25/43 (e) (i)		1,269
	3,018	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		3,024
		Wells Fargo Mortgage-Backed Securities Trust,
	281	Series 2003-K, Class 1A1, VAR, 4.292%, 11/25/33		281
	532	Series 2003-K, Class 1A2, VAR, 4.292%, 11/25/33		536
	270	Series 2004-BB, Class A4, VAR, 2.625%, 01/25/35		271
	706	Series 2004-EE, Class 2A1, VAR, 2.623%, 12/25/34		703
	748	Series 2004-EE, Class 3A1, VAR, 2.853%, 12/25/34		744
	3,622	Series 2004-P, Class 2A1, VAR, 2.614%, 09/25/34		3,626
	756	Series 2004-V, Class 1A1, VAR, 2.648%, 10/25/34		767
	396	Series 2005-1, Class 2A1, 5.000%, 03/25/20		409
	111	Series 2005-13, Class APO, PO, 11/25/20		105
	363	Series 2005-16, Class APO, PO, 01/25/36		280
	475	Series 2005-AR16, Class 2A1, VAR, 2.718%, 10/25/35		474

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	712	Series 2005-AR8, Class 2A1, VAR, 2.703%, 06/25/35		714
	780	Series 2006-2, Class APO, PO, 03/25/36		435
	398	Series 2006-4, Class 1APO, PO, 04/25/36		296
	1,896	Series 2007-7, Class A7, 6.000%, 06/25/37		1,789
	518	Series 2007-11, Class A14, 6.000%, 08/25/37		494
				343,030
		Total Collateralized Mortgage Obligations (Cost $931,346)		989,527
	Commercial Mortgage-Backed Securities — 3.7%
		A10 Securitization LLC,
	1,773	Series 2012-1, Class A, 3.492%, 04/15/24 (e)		1,789
	1,414	Series 2013-1, Class A, 2.400%, 11/15/25 (e)		1,401
	560	BAMLL Commercial Mortgage Securities Trust, Series 2012-PARK, Class A, 2.959%, 12/12/30 (e)		523
		Banc of America Commercial Mortgage Trust,
	365	Series 2006-1, Class A4, VAR, 5.372%, 09/10/45		394
	2,270	Series 2006-4, Class A4, 5.634%, 07/10/46		2,476
	915	Series 2006-5, Class A4, 5.414%, 09/10/47		998
		Banc of America Merrill Lynch Commercial Mortgage, Inc.,
	400	Series 2005-3, Class A4, 4.668%, 07/10/43		422
	1,610	Series 2005-3, Class AM, 4.727%, 07/10/43		1,670
	1,583	Series 2005-6, Class ASB, VAR, 5.358%, 09/10/47		1,595
		BB-UBS Trust,
	2,200	Series 2012-SHOW, Class A, 3.430%, 11/05/36 (e)		2,043
	2,500	Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		2,345
		Bear Stearns Commercial Mortgage Securities Trust,
	40,484	Series 2005-PWR8, Class X1, IO, VAR, 0.933%, 06/11/41 (e)		450
	668	Series 2005-PWR9, Class AAB, 4.804%, 09/11/42		678
	3,148	Series 2006-PW11, Class A4, VAR, 5.610%, 03/11/39		3,412
	98,128	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.213%, 12/11/49 (e)		746

SEE NOTES TO FINANCIAL STATEMENTS.

32 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

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		1,311
		COBALT CMBS Commercial Mortgage Trust,
	605	Series 2006-C1, Class A4, 5.223%, 08/15/48		652
	23,334	Series 2006-C1, Class IO, IO, VAR, 0.999%, 08/15/48		455
		COMM Mortgage Trust,
	1,100	Series 2005-LP5, Class A4, VAR, 4.982%, 05/10/43		1,157
	3,034	Series 2012-CR2, Class XA, IO, VAR, 2.114%, 08/15/45		349
	1,060	Series 2013-SFS, Class A2, VAR, 3.086%, 04/13/35 (e)		981
	332	Commercial Mortgage Pass-Through Certificates, Series 2012-MVP, Class A, VAR, 2.131%, 11/19/26 (e)		332
		Commercial Mortgage Trust,
	500	Series 2005-GG3, Class AJ, VAR, 4.859%, 08/10/42		520
	300	Series 2006-GG7, Class AM, VAR, 6.056%, 07/10/38		327
		Credit Suisse Commercial Mortgage Trust,
	700	Series 2006-C2, Class A3, VAR, 5.858%, 03/15/39		757
	3,500	Series 2013-300P, Class A1, VAR, 4.353%, 08/10/30 (e)		3,583
		DBRR Trust,
	652	Series 2012-EZ1, Class A, 0.946%, 09/25/45 (e)		654
	2,316	Series 2013-EZ2, Class A, VAR, 0.853%, 02/25/45 (e)		2,315
	1,771	FDIC Guaranteed Notes Trust, Series 2010-C1, Class A, 2.980%, 12/06/20 (e)		1,822
	2,293	Fontainebleau Miami Beach Trust, Series 2012-FBLU, Class A, 2.887%, 05/05/27 (e)		2,306
	1,866	GE Capital Commercial Mortgage Corp., Series 2005-C1, Class AJ, VAR, 4.826%, 06/10/48		1,947
	4,265	GMAC Commercial Mortgage Securities, Inc. Trust, Series 2006-C1, Class A4, VAR, 5.238%, 11/10/45		4,511
		GS Mortgage Securities Corp. II,
	1,733	Series 2004-GG2, Class A6, VAR, 5.396%, 08/10/38		1,770
	1,447	Series 2013-KING, Class A, 2.706%, 12/10/27 (e)		1,421

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	488	GS Mortgage Securities Corp. Trust, Series 2013-NYC5, Class A, 2.318%, 01/10/30 (e)		487
	850	GS Mortgage Securities Trust, Series 2006-GG6, Class A4, VAR, 5.553%, 04/10/38 (Cost $763)		917
	1,000	GSMS Trust, Series 2009-RR1, Class JPB, 5.374%, 05/17/45 (e)		1,094
		JP Morgan Chase Commercial Mortgage Securities Trust,
	1,000	Series 2005-CB11, Class AJ, VAR, 5.567%, 08/12/37		1,054
	400	Series 2006-LDP9, Class AMS, 5.337%, 05/15/47		407
	1,000	Series 2007-C1, Class A4, 5.716%, 02/15/51		1,106
	998	Ladder Capital Commercial Mortgage Trust, Series 2013-GCP, Class A2, 3.985%, 02/15/36 (e)		920
		LB-UBS Commercial Mortgage Trust,
	1,000	Series 2006-C1, Class A4, 5.156%, 02/15/31		1,074
	40,564	Series 2006-C7, Class XW, IO, VAR, 0.848%, 11/15/38 (e)		767
	300	Series 2007-C1, Class AM, 5.455%, 02/15/40		324
	830	Series 2007-C2, Class A3, 5.430%, 02/15/40		909
		Merrill Lynch Mortgage Trust,
	2,962	Series 2005-LC1, Class A4, VAR, 5.291%, 01/12/44		3,185
	879	Series 2005-MCP1, Class ASB, VAR, 4.674%, 06/12/43		888
		ML-CFC Commercial Mortgage Trust,
	3,207	Series 2006-1, Class A4, VAR, 5.657%, 02/12/39		3,449
	29,500	Series 2006-4, Class XC, IO, VAR, 0.249%, 12/12/49 (e)		352
		Morgan Stanley Capital I Trust,
	36,655	Series 2006-IQ12, Class X1, IO, VAR, 0.172%, 12/15/43 (e)		500
	77,255	Series 2007-HQ11, Class X, IO, VAR, 0.395%, 02/12/44 (e)		387
	764	Series 2011-C3, Class A3, 4.054%, 07/16/49		802
		Morgan Stanley Re-REMIC Trust,
	2	Series 2010-C30A, Class A3A, 3.250%, 12/17/43 (e)		2
	2,538	Series 2010-HQ4B, Class A7A, 4.970%, 04/18/40 (e)		2,591

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 33

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — Continued
	2,188	Series 2011-IO, Class A, 2.500%, 03/23/51 (e)		2,192
	1,470	Series 2012-IO, Class AXA, 1.000%, 03/29/51 (e)		1,457
	5,960	Series 2012-XA, Class A, 2.000%, 07/28/49 (e)		6,011
	1,500	Series 2012-XA, Class B, 0.250%, 07/28/49 (e)		1,239
		NCUA Guaranteed Notes Trust,
	20,500	Series 2010-C1, Class A2, 2.900%, 10/29/20		21,157
	10,976	Series 2010-C1, Class APT, 2.650%, 10/29/20		11,264
	2,290	NorthStar Mortgage Trust, Series 2012-1, Class A, VAR, 1.384%, 08/25/29 (e)		2,287
		N-Star Real Estate CDO Ltd.,
	2,450	Series 2013-1A, Class A, 8/25/29 (e)		2,452
	392	Series 2013-1A, Class B, PO, 07/25/29 (e)		389
	3,225	ORES NPL LLC, Series 2013-LV2, Class A, 3.081%, 09/25/25 (e)		3,225
	664	RBS Commercial Funding, Inc. Trust, Series 2013-SMV, Class A, 3.260%, 03/13/31 (e)		609
	1,953	RCMC LLC, Series 2012-CRE1, Class A, 5.623%, 12/17/18 (e)		1,949
	3,512	TIAA Seasoned Commercial Mortgage Trust, Series 2007-C4, Class A3, VAR, 5.546%, 08/15/39		3,631
	2,236	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		2,147
		UBS-Barclays Commercial Mortgage Trust,
	1,053	Series 2012-C2, Class A4, 3.525%, 05/10/63		1,031
	10,454	Series 2012-C2, Class XA, IO, VAR, 1.963%, 05/10/63 (e)		983
	857	Series 2013-C6, Class A4, 3.244%, 04/12/46		812
	1,398	VNO Mortgage Trust, Series 2012-6AVE, Class A, 2.996%, 11/15/30 (e)		1,301
	2,500	Wells Fargo Commercial Mortgage Trust, Series 2013-120B, Class A, VAR, 2.800%, 03/20/28 (e)		2,382
	2,411	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		2,412
		WFRBS Commercial Mortgage Trust,
	1,700	Series 2011-C3, Class A4, 4.375%, 03/15/44 (e)		1,778

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	800	Series 2012-C6, Class A4, 3.440%, 04/15/45		787
		Total Commercial Mortgage-Backed Securities (Cost $138,698)		140,822
	Corporate Bonds — 18.2%
		Consumer Discretionary — 1.3%
		Auto Components — 0.1%
		Johnson Controls, Inc.,
	591	3.750%, 12/01/21		587
	675	4.250%, 03/01/21		694
	1,000	5.250%, 12/01/41		984
				2,265
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	421	1.650%, 04/10/15 (e)		425
	532	1.875%, 01/11/18 (e)		522
	981	2.375%, 08/01/18 (e)		971
	739	2.625%, 09/15/16 (e)		759
	1,425	2.950%, 01/11/17 (e)		1,467
	1,000	6.500%, 11/15/13		1,011
				5,155
		Household Durables — 0.0% (g)
	505	Newell Rubbermaid, Inc., 4.700%, 08/15/20		534
		Media — 0.9%
		CBS Corp.,
	140	5.500%, 05/15/33		137
	252	5.750%, 04/15/20		280
	150	7.875%, 09/01/23		181
	1,000	7.875%, 07/30/30		1,221
	190	8.875%, 05/15/19		241
	250	Comcast Cable Communications Holdings, Inc., 9.455%, 11/15/22		350
		Comcast Corp.,
	1,082	4.250%, 01/15/33		1,030
	2,885	5.900%, 03/15/16		3,229
	400	6.450%, 03/15/37		477
	1,355	6.500%, 11/15/35		1,635
		COX Communications, Inc.,
	446	3.250%, 12/15/22 (e)		393
	162	5.450%, 12/15/14		171
	125	8.375%, 03/01/39 (e)		149
	450	Cox Enterprises, Inc., 7.375%, 07/15/27 (e)		512
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	400	3.800%, 03/15/22		373

SEE NOTES TO FINANCIAL STATEMENTS.

34 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Media — Continued
	1,000	4.600%, 02/15/21		1,004
	772	5.000%, 03/01/21		789
	2,000	6.000%, 08/15/40		1,909
		Discovery Communications LLC,
	1,016	4.375%, 06/15/21		1,056
	319	4.950%, 05/15/42		297
	1,177	Historic TW, Inc., 9.150%, 02/01/23		1,550
		NBCUniversal Media LLC,
	300	4.375%, 04/01/21		321
	800	5.950%, 04/01/41		907
	515	6.400%, 04/30/40		616
		News America, Inc.,
	100	6.200%, 12/15/34		107
	400	6.650%, 11/15/37		461
	250	6.900%, 08/15/39		291
	1,075	7.300%, 04/30/28		1,268
	500	8.000%, 10/17/16		595
	415	8.875%, 04/26/23		535
		Thomson Reuters Corp., (Canada),
	1,278	3.950%, 09/30/21		1,291
	441	4.500%, 05/23/43		386
	325	4.700%, 10/15/19		354
		Time Warner Cable, Inc.,
	359	5.500%, 09/01/41		307
	2,127	5.850%, 05/01/17		2,315
	400	6.550%, 05/01/37		386
	800	8.250%, 04/01/19		935
		Time Warner Entertainment Co. LP,
	120	8.375%, 03/15/23		138
	1,250	8.375%, 07/15/33		1,396
		Time Warner, Inc.,
	525	4.750%, 03/29/21		559
	313	5.375%, 10/15/41		311
	150	6.200%, 03/15/40		164
	172	6.250%, 03/29/41		189
	265	6.500%, 11/15/36		296
	250	7.625%, 04/15/31		314
	171	7.700%, 05/01/32		216
		Viacom, Inc.,
	208	1.250%, 02/27/15		209
	500	3.125%, 06/15/22		461
	67	3.250%, 03/15/23		61
	808	3.875%, 12/15/21		795
	464	4.375%, 03/15/43		381
	100	4.500%, 03/01/21		103

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Media — Continued
	250	4.500%, 02/27/42		208
	333	Walt Disney Co. (The), 0.450%, 12/01/15		331
				34,191
		Multiline Retail — 0.1%
		Kohl’s Corp.,
	400	4.000%, 11/01/21		398
	275	6.250%, 12/15/17		314
		Macy’s Retail Holdings, Inc.,
	516	2.875%, 02/15/23		465
	157	5.125%, 01/15/42		154
	200	7.450%, 07/15/17		237
	455	Nordstrom, Inc., 4.000%, 10/15/21		474
		Target Corp.,
	200	6.000%, 01/15/18		233
	268	7.000%, 01/15/38		347
				2,622
		Specialty Retail — 0.1%
	533	Gap, Inc. (The), 5.950%, 04/12/21		591
	1,765	Home Depot, Inc. (The), 5.400%, 03/01/16		1,954
		Lowe’s Cos., Inc.,
	739	4.650%, 04/15/42		721
	326	5.125%, 11/15/41		340
	750	Series B, 7.110%, 05/15/37		941
				4,547
		Total Consumer Discretionary		49,314
		Consumer Staples — 0.9%
		Beverages — 0.3%
		Anheuser-Busch Cos. LLC,
	600	5.500%, 01/15/18		687
	905	5.750%, 04/01/36		1,019
		Anheuser-Busch InBev Worldwide, Inc.,
	114	1.500%, 07/14/14		115
	515	7.750%, 01/15/19		644
		Coca-Cola Co. (The),
	500	3.625%, 03/15/14		508
	410	4.875%, 03/15/19		462
		Diageo Capital plc, (United Kingdom),
	264	1.500%, 05/11/17		261
	510	4.828%, 07/15/20		566
	800	Diageo Finance B.V., (Netherlands), 5.300%, 10/28/15		876
	255	Diageo Investment Corp., 8.000%, 09/15/22		336
	890	FBG Finance Pty Ltd., (Australia), 5.125%, 06/15/15 (e)		955

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 35

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Beverages — Continued
	355	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		345
		PepsiCo, Inc.,
	150	0.800%, 08/25/14		151
	287	1.250%, 08/13/17		281
	368	3.000%, 08/25/21		358
	54	7.900%, 11/01/18		68
	500	VAR, 0.472%, 02/26/16		500
		SABMiller Holdings, Inc.,
	574	1.850%, 01/15/15 (e)		581
	698	3.750%, 01/15/22 (e)		701
		SABMiller plc, (United Kingdom),
	700	5.700%, 01/15/14 (e)		713
	250	6.500%, 07/01/16 (e)		284
				10,411
		Food & Staples Retailing — 0.3%
		CVS Caremark Corp.,
	979	5.750%, 05/15/41		1,094
	250	6.125%, 09/15/39		290
	1,070	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		1,158
		Kroger Co. (The),
	1,100	5.000%, 04/15/42		1,067
	850	7.500%, 01/15/14		871
	2,460	7.500%, 04/01/31		3,040
	1,031	Walgreen Co., 3.100%, 09/15/22		966
		Wal-Mart Stores, Inc.,
	752	5.250%, 09/01/35		813
	215	6.200%, 04/15/38		262
	350	7.550%, 02/15/30		475
				10,036
		Food Products — 0.3%
	200	Archer-Daniels-Midland Co., 5.935%, 10/01/32		224
	1,305	Bunge Ltd. Finance Corp., 8.500%, 06/15/19		1,588
	191	Bunge N.A. Finance LP, 5.900%, 04/01/17		211
		Cargill, Inc.,
	600	3.300%, 03/01/22 (e)		581
	535	4.307%, 05/14/21 (e)		562
	850	7.350%, 03/06/19 (e)		1,037
		ConAgra Foods, Inc.,
	223	1.300%, 01/25/16		225
	286	2.100%, 03/15/18		281

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Food Products — Continued
		Kellogg Co.,
	365	1.750%, 05/17/17		364
	608	3.125%, 05/17/22		585
		Kraft Foods Group, Inc.,
	814	3.500%, 06/06/22		796
	694	5.000%, 06/04/42		681
	1,187	6.125%, 08/23/18		1,386
	1,793	6.875%, 01/26/39		2,189
		Mondelez International, Inc.,
	378	6.125%, 02/01/18		435
	1,480	6.500%, 08/11/17		1,715
				12,860
		Household Products — 0.0% (g)
		Kimberly-Clark Corp.,
	220	2.400%, 03/01/22		206
	66	7.500%, 11/01/18		82
	806	Procter & Gamble — ESOP, Series A, 9.360%, 01/01/21		1,027
	110	Procter & Gamble Co. (The), 5.500%, 02/01/34		128
				1,443
		Total Consumer Staples		34,750
		Energy — 1.5%
		Energy Equipment & Services — 0.2%
	225	Cameron International Corp., 1.600%, 04/30/15		226
		Halliburton Co.,
	714	3.500%, 08/01/23		705
	1,605	7.450%, 09/15/39		2,158
	188	National Oilwell Varco, Inc., 1.350%, 12/01/17		183
	83	Noble Holding International Ltd., (Cayman Islands), 5.250%, 03/15/42		76
		Transocean, Inc., (Cayman Islands),
	361	3.800%, 10/15/22		337
	256	6.375%, 12/15/21		282
	905	6.500%, 11/15/20		1,001
	198	7.350%, 12/15/41		228
	100	7.500%, 04/15/31		111
		Weatherford International Ltd., (Bermuda),
	311	4.500%, 04/15/22		304
	113	5.950%, 04/15/42		108
	110	6.500%, 08/01/36		110
	350	9.875%, 03/01/39		473
				6,302

SEE NOTES TO FINANCIAL STATEMENTS.

36 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Oil, Gas & Consumable Fuels — 1.3%
	160	Alberta Energy Co., Ltd., (Canada), 7.375%, 11/01/31		187
		Anadarko Petroleum Corp.,
	125	5.750%, 06/15/14		130
	2,000	7.625%, 03/15/14		2,071
	265	8.700%, 03/15/19		339
		Apache Corp.,
	615	2.625%, 01/15/23		562
	190	3.250%, 04/15/22		185
	556	4.750%, 04/15/43		537
	500	6.900%, 09/15/18		610
	235	BG Energy Capital plc, (United Kingdom), 5.125%, 10/15/41 (e)		239
		BP Capital Markets plc, (United Kingdom),
	92	1.375%, 11/06/17		90
	929	1.846%, 05/05/17		929
	882	2.750%, 05/10/23		798
	900	4.742%, 03/11/21		966
	2,122	5.250%, 11/07/13		2,140
	200	Burlington Resources Finance Co., (Canada), 7.400%, 12/01/31		263
		Canadian Natural Resources Ltd., (Canada),
	350	6.250%, 03/15/38		397
	1,000	6.750%, 02/01/39		1,188
		Cenovus Energy, Inc., (Canada),
	208	3.000%, 08/15/22		195
	490	4.450%, 09/15/42		441
	450	6.750%, 11/15/39		539
		Chevron Corp.,
	559	2.427%, 06/24/20		545
	1,000	4.950%, 03/03/19		1,136
	205	Conoco Funding Co., (Canada), 7.250%, 10/15/31		271
		ConocoPhillips,
	325	5.200%, 05/15/18		368
	450	5.750%, 02/01/19		522
	150	6.000%, 01/15/20		177
	200	6.500%, 02/01/39		253
	1,045	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		1,184
		Devon Energy Corp.,
	750	3.250%, 05/15/22		712
	522	4.750%, 05/15/42		481
	360	6.300%, 01/15/19		415
		Encana Corp., (Canada),
	545	6.500%, 05/15/19		639

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Oil, Gas & Consumable Fuels — Continued
	150	6.500%, 08/15/34		165
	925	Eni S.p.A., (Italy), 5.700%, 10/01/40 (e)		879
		EOG Resources, Inc.,
	379	2.625%, 03/15/23		346
	600	4.100%, 02/01/21		630
	180	Hess Corp., 7.875%, 10/01/29		225
		Kerr-McGee Corp.,
	200	6.950%, 07/01/24		236
	1,000	7.875%, 09/15/31		1,269
	250	Magellan Midstream Partners LP, 6.550%, 07/15/19		296
		Marathon Oil Corp.,
	888	5.900%, 03/15/18		1,011
	1,620	6.000%, 10/01/17		1,855
	113	Noble Holding International Ltd., (Cayman Islands), 3.950%, 03/15/22		109
	402	Occidental Petroleum Corp., 1.750%, 02/15/17		402
	841	Petrobras Global Finance B.V., (Netherlands), 4.375%, 05/20/23		736
		Petrobras International Finance Co., (Cayman Islands),
	1,020	5.375%, 01/27/21		996
	110	6.750%, 01/27/41		102
	175	7.875%, 03/15/19		197
		Petro-Canada, (Canada),
	324	6.050%, 05/15/18		375
	1,045	6.800%, 05/15/38		1,254
		Phillips 66,
	314	2.950%, 05/01/17		323
	182	4.300%, 04/01/22		184
	441	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		438
		Spectra Energy Capital LLC,
	1,615	5.500%, 03/01/14		1,650
	500	6.200%, 04/15/18		568
	400	8.000%, 10/01/19		482
		Statoil ASA, (Norway),
	906	1.150%, 05/15/18		871
	353	1.200%, 01/17/18		343
	406	2.450%, 01/17/23		371
	1,071	2.650%, 01/15/24		979
	467	3.125%, 08/17/17		492
	300	3.150%, 01/23/22		295
	253	4.250%, 11/23/41		238

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 37

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Oil, Gas & Consumable Fuels — Continued
		Suncor Energy, Inc., (Canada),
	180	5.950%, 12/01/34		195
	250	6.850%, 06/01/39		303
		Talisman Energy, Inc., (Canada),
	1,125	5.500%, 05/15/42		1,063
	185	5.850%, 02/01/37		182
	190	6.250%, 02/01/38		197
	850	7.750%, 06/01/19		1,026
	554	Texas Eastern Transmission LP, 2.800%, 10/15/22 (e)		505
		Tosco Corp.,
	300	7.800%, 01/01/27		400
	400	8.125%, 02/15/30		544
	124	Total Capital Canada Ltd., (Canada), VAR, 0.648%, 01/15/16		125
		Total Capital International S.A., (France),
	135	0.750%, 01/25/16		134
	262	1.500%, 02/17/17		262
	508	1.550%, 06/28/17		504
	233	2.875%, 02/17/22		222
		Total Capital S.A., (France),
	1,400	2.300%, 03/15/16		1,442
	370	4.125%, 01/28/21		390
		TransCanada PipeLines Ltd., (Canada),
	550	6.200%, 10/15/37		641
	340	6.500%, 08/15/18		404
	1,100	7.250%, 08/15/38		1,425
	2,000	XTO Energy, Inc., 5.750%, 12/15/13		2,029
				49,819
		Total Energy		56,121
		Financials — 8.6%
		Capital Markets — 1.8%
		Bank of New York Mellon Corp. (The),
	357	1.200%, 02/20/15		359
	1,789	2.400%, 01/17/17		1,828
	900	2.950%, 06/18/15		935
	413	3.550%, 09/23/21		418
	750	4.600%, 01/15/20		815
		BlackRock, Inc.,
	1,200	3.375%, 06/01/22		1,183
	540	3.500%, 12/10/14		560
	652	5.000%, 12/10/19		734
	385	6.250%, 09/15/17		449

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Capital Markets — Continued
	1,940	Blackstone Holdings Finance Co. LLC, 5.875%, 03/15/21 (e)		2,155
	260	Charles Schwab Corp. (The), 3.225%, 09/01/22		248
	942	Credit Suisse, (Switzerland), 5.500%, 05/01/14		973
	755	Credit Suisse USA, Inc., 5.125%, 08/15/15		816
		Deutsche Bank AG, (Germany),
	650	3.250%, 01/11/16		679
	970	3.875%, 08/18/14		998
	355	6.000%, 09/01/17		406
	500	FMR LLC, 6.450%, 11/15/39 (e)		573
		Goldman Sachs Group, Inc. (The),
	764	2.900%, 07/19/18		763
	400	3.300%, 05/03/15		414
	3,060	3.625%, 02/07/16		3,205
	492	3.700%, 08/01/15		514
	2,658	5.150%, 01/15/14		2,702
	848	5.250%, 07/27/21		906
	1,366	5.375%, 03/15/20		1,486
	750	5.500%, 11/15/14		790
	800	5.750%, 01/24/22		879
	4,100	5.950%, 01/18/18		4,587
	949	6.000%, 06/15/20		1,065
	240	6.150%, 04/01/18		271
	340	6.250%, 09/01/17		384
	685	6.750%, 10/01/37		707
	2,570	7.500%, 02/15/19		3,066
		ING Bank N.V., (Netherlands),
	216	2.000%, 09/25/15 (e)		218
	1,445	3.750%, 03/07/17 (e)		1,502
		Jefferies Group LLC,
	450	3.875%, 11/09/15		467
	1,015	5.125%, 04/13/18		1,079
	1,000	6.450%, 06/08/27		1,015
	203	6.500%, 01/20/43		204
	780	8.500%, 07/15/19		945
		Macquarie Bank Ltd., (Australia),
	373	2.000%, 08/15/16 (e)		372
	2,847	5.000%, 02/22/17 (e)		3,073
		Macquarie Group Ltd., (Australia),
	1,200	6.000%, 01/14/20 (e)		1,293
	1,400	6.250%, 01/14/21 (e)		1,505
	750	7.300%, 08/01/14 (e)		790
	250	7.625%, 08/13/19 (e)		292

SEE NOTES TO FINANCIAL STATEMENTS.

38 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Capital Markets — Continued
		Merrill Lynch & Co., Inc.,
	2,215	5.450%, 07/15/14		2,304
	2,996	6.400%, 08/28/17		3,416
	1,564	6.875%, 04/25/18		1,819
		Morgan Stanley,
	179	1.750%, 02/25/16		179
	625	4.000%, 07/24/15		653
	893	4.200%, 11/20/14		927
	1,000	5.450%, 01/09/17		1,088
	1,021	5.500%, 07/24/20		1,116
	380	5.500%, 07/28/21		413
	1,265	5.625%, 09/23/19		1,393
	360	5.750%, 01/25/21		398
	1,200	6.000%, 05/13/14		1,238
	400	6.625%, 04/01/18		458
	370	6.750%, 10/15/13		372
	970	7.300%, 05/13/19		1,148
		Nomura Holdings, Inc., (Japan),
	1,050	4.125%, 01/19/16		1,099
	150	5.000%, 03/04/15		157
	547	6.700%, 03/04/20		616
	359	State Street Corp., 3.100%, 05/15/23		333
		UBS AG, (Switzerland),
	1,337	3.875%, 01/15/15		1,393
	365	4.875%, 08/04/20		401
	244	5.750%, 04/25/18		280
	247	5.875%, 12/20/17		284
				70,108
		Commercial Banks — 2.5%
	550	ANZ New Zealand International Ltd., (New Zealand), 3.125%, 08/10/15 (e)		570
		Australia & New Zealand Banking Group Ltd., (Australia),
	1,268	2.400%, 11/23/16 (e)		1,307
	900	3.250%, 03/01/16 (e)		942
	228	4.875%, 01/12/21 (e)		246
		Bank of Montreal, (Canada),
	741	1.300%, 10/31/14 (e)		749
	1,666	1.400%, 09/11/17		1,628
	1,106	2.550%, 11/06/22		1,014
		Bank of Nova Scotia, (Canada),
	1,034	1.650%, 10/29/15 (e)		1,054
	2,000	2.550%, 01/12/17		2,050
	737	3.400%, 01/22/15		764

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Commercial Banks — Continued
		Bank of Tokyo-Mitsubishi UFJ Ltd. (The), (Japan),
	1,275	2.350%, 02/23/17 (e)		1,286
	679	3.850%, 01/22/15 (e)		706
		Barclays Bank plc, (United Kingdom),
	276	2.250%, 05/10/17 (e)		282
	800	2.500%, 09/21/15 (e)		826
	1,735	2.750%, 02/23/15		1,779
	310	5.000%, 09/22/16		341
	700	5.200%, 07/10/14		726
	1,000	6.050%, 12/04/17 (e)		1,101
		BB&T Corp.,
	655	3.375%, 09/25/13		656
	750	3.950%, 04/29/16		801
	740	4.900%, 06/30/17		804
	1,885	5.700%, 04/30/14		1,949
	370	6.850%, 04/30/19		446
	695	Branch Banking & Trust Co., 5.625%, 09/15/16		776
		Canadian Imperial Bank of Commerce, (Canada),
	226	0.900%, 10/01/15		226
	4,000	2.600%, 07/02/15 (e)		4,139
	1,650	Capital One Bank USA N.A., 3.375%, 02/15/23		1,535
	260	Comerica, Inc., 3.000%, 09/16/15		270
	1,080	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		1,106
		Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., (Netherlands),
	143	2.125%, 10/13/15		147
	2,400	3.200%, 03/11/15 (e)		2,484
	455	3.375%, 01/19/17		479
	789	3.875%, 02/08/22		783
	500	5.800%, 09/30/10 (e) (††)		506
	2,011	DNB Boligkreditt A.S., (Norway), 2.100%, 10/14/15 (e)		2,062
	760	Fifth Third Bancorp, 5.450%, 01/15/17		834
		HSBC Bank plc, (United Kingdom),
	1,745	1.625%, 07/07/14 (e)		1,758
	1,438	3.100%, 05/24/16 (e)		1,507
	666	4.125%, 08/12/20 (e)		692
	575	4.750%, 01/19/21 (e)		619
		HSBC Holdings plc, (United Kingdom),
	500	4.000%, 03/30/22		504
	530	4.875%, 01/14/22		568
	556	5.100%, 04/05/21		608
	600	6.100%, 01/14/42		709

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 39

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	500	ING Bank N.V., (Netherlands), 1.375%, 03/07/16 (e)		496
	2,100	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		2,456
		National Australia Bank Ltd., (Australia),
	1,500	2.000%, 06/20/17 (e)		1,516
	750	2.750%, 09/28/15 (e)		777
	1,000	3.000%, 07/27/16 (e)		1,047
	795	3.750%, 03/02/15 (e)		829
	1,353	National Bank of Canada, (Canada), 1.650%, 01/30/14 (e)		1,360
	250	National City Bank, 5.800%, 06/07/17		283
		Nordea Bank AB, (Sweden),
	1,000	1.625%, 05/15/18 (e)		967
	600	1.750%, 10/04/13 (e)		601
	1,800	3.125%, 03/20/17 (e)		1,863
	945	4.875%, 05/13/21 (e)		969
	837	Oversea-Chinese Banking Corp., Ltd., (Singapore), 1.625%, 03/13/15 (e)		846
	400	PNC Bank N.A., 6.875%, 04/01/18		475
		PNC Funding Corp.,
	659	3.300%, 03/08/22		639
	567	4.375%, 08/11/20		605
	940	5.250%, 11/15/15		1,022
	950	5.625%, 02/01/17		1,053
	595	6.700%, 06/10/19		710
		Royal Bank of Canada, (Canada),
	985	1.200%, 09/19/17		962
	1,000	2.200%, 07/27/18		998
	402	Skandinaviska Enskilda Banken AB, (Sweden), 1.750%, 03/19/18 (e)		391
	927	SpareBank 1 Boligkreditt A.S., (Norway), 1.750%, 11/15/19 (e)		864
	820	SunTrust Banks, Inc., 6.000%, 09/11/17		933
	1,411	Svenska Handelsbanken AB, (Sweden), 3.125%, 07/12/16		1,473
		Toronto-Dominion Bank (The), (Canada),
	2,350	1.500%, 03/13/17 (e)		2,356
	1,140	2.200%, 07/29/15 (e)		1,173
		U.S. Bancorp,
	550	1.650%, 05/15/17		547
	675	2.450%, 07/27/15		697
	540	3.000%, 03/15/22		523
	566	4.125%, 05/24/21		595
	1,107	7.500%, 06/01/26		1,397

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Commercial Banks — Continued
		Wachovia Bank N.A.,
	1,000	5.600%, 03/15/16		1,104
	250	6.000%, 11/15/17		286
	1,125	6.600%, 01/15/38		1,374
		Wachovia Corp.,
	695	4.875%, 02/15/14		709
	4,780	5.750%, 02/01/18		5,476
		Wells Fargo & Co.,
	1,826	2.625%, 12/15/16		1,895
	850	3.500%, 03/08/22		844
	500	4.600%, 04/01/21		539
	2,350	5.625%, 12/11/17		2,680
	1,025	SUB, 3.676%, 06/15/16		1,089
		Wells Fargo Bank N.A.,
	1,515	4.750%, 02/09/15		1,597
	250	5.750%, 05/16/16		278
		Westpac Banking Corp., (Australia),
	900	4.200%, 02/27/15		945
	2,141	4.875%, 11/19/19		2,383
				96,961
		Consumer Finance — 0.9%
	700	American Express Co., 7.000%, 03/19/18		838
		American Express Credit Corp.,
	361	2.375%, 03/24/17		370
	1,028	2.800%, 09/19/16		1,073
	1,150	5.125%, 08/25/14		1,201
		American Honda Finance Corp.,
	667	1.450%, 02/27/15 (e)		673
	363	1.500%, 09/11/17 (e)		356
	533	1.600%, 02/16/18 (e)		520
	565	2.125%, 02/28/17 (e)		570
	1,599	2.600%, 09/20/16 (e)		1,655
	150	7.625%, 10/01/18 (e)		186
		Capital One Financial Corp.,
	273	1.000%, 11/06/15		271
	1,281	3.500%, 06/15/23 (e)		1,203
	2,140	7.375%, 05/23/14		2,241
		Caterpillar Financial Services Corp.,
	402	2.850%, 06/01/22		380
	560	5.500%, 03/15/16		617
	1,300	6.200%, 09/30/13		1,306
	305	7.050%, 10/01/18		373
	545	7.150%, 02/15/19		668

SEE NOTES TO FINANCIAL STATEMENTS.

40 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Consumer Finance — Continued
		Ford Motor Credit Co. LLC,
	1,253	3.000%, 06/12/17		1,263
	1,917	3.984%, 06/15/16		2,001
	561	4.207%, 04/15/16		588
	200	4.250%, 09/20/22		195
	803	VAR, 1.516%, 05/09/16		804
		HSBC Finance Corp.,
	3,538	5.000%, 06/30/15		3,761
	2,200	5.250%, 01/15/14		2,237
	207	7.350%, 11/27/32		236
		HSBC USA, Inc.,
	800	1.625%, 01/16/18		776
	1,500	2.375%, 02/13/15		1,534
		John Deere Capital Corp.,
	759	1.200%, 10/10/17		741
	335	1.700%, 01/15/20		313
	400	2.250%, 04/17/19		398
	233	3.150%, 10/15/21		230
	874	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		848
	663	PACCAR Financial Corp., 1.600%, 03/15/17		656
		Toyota Motor Credit Corp.,
	1,120	1.000%, 02/17/15		1,128
	2,480	2.000%, 09/15/16		2,537
	962	3.200%, 06/17/15		1,005
				35,752
		Diversified Financial Services — 1.8%
	1,221	Associates Corp. of North America, 6.950%, 11/01/18		1,433
		Bank of America Corp.,
	600	2.000%, 01/11/18		582
	520	3.625%, 03/17/16		545
	547	4.100%, 07/24/23		538
	2,065	5.000%, 05/13/21		2,187
	2,720	5.625%, 10/14/16		3,012
	740	5.625%, 07/01/20		814
	645	5.650%, 05/01/18		719
	420	5.750%, 12/01/17		470
	400	5.875%, 01/05/21		446
	150	7.375%, 05/15/14		157
	600	7.625%, 06/01/19		722
	1,510	Bank of America Corp., 7.800%, 09/15/16		1,730
	1,455	Bank of America N.A., 5.300%, 03/15/17		1,587
	725	Caisse Centrale Desjardins, (Canada), 2.550%, 03/24/16 (e)		753

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Diversified Financial Services — Continued
		Citigroup, Inc.,
	450	2.250%, 08/07/15		458
	423	3.375%, 03/01/23		399
	500	4.450%, 01/10/17		538
	433	4.500%, 01/14/22		451
	842	4.587%, 12/15/15		900
	856	4.700%, 05/29/15		905
	1,022	4.750%, 05/19/15		1,083
	3,127	5.000%, 09/15/14		3,249
	1,270	5.125%, 05/05/14		1,306
	1,225	5.375%, 08/09/20		1,358
	321	5.875%, 01/30/42		357
	120	6.000%, 12/13/13		122
	2,154	6.000%, 08/15/17		2,438
	780	6.010%, 01/15/15		831
	350	6.125%, 11/21/17		401
	555	6.375%, 08/12/14		585
	250	6.625%, 01/15/28		283
	400	8.125%, 07/15/39		551
	1,409	8.500%, 05/22/19		1,786
		CME Group, Inc.,
	1,155	3.000%, 09/15/22		1,083
	1,500	5.750%, 02/15/14		1,534
		General Electric Capital Corp.,
	167	1.000%, 12/11/15		167
	1,100	1.625%, 07/02/15		1,114
	750	2.300%, 04/27/17		760
	2,000	3.150%, 09/07/22		1,858
	650	4.625%, 01/07/21		688
	2,100	4.650%, 10/17/21		2,213
	191	5.300%, 02/11/21		206
	2,500	5.400%, 02/15/17		2,791
	6,165	5.625%, 05/01/18		7,034
	1,000	5.650%, 06/09/14		1,040
	310	5.875%, 01/14/38		336
	2,622	Series A, 6.750%, 03/15/32		3,142
	539	Hutchison Whampoa International 12 II Ltd., (Cayman Islands), 3.250%, 11/08/22 (e)		493
	626	MassMutual Global Funding II, 2.500%, 10/17/22 (e)		564
	1,120	Metlife of Connecticut Global Funding I, 5.125%, 08/15/14 (e)		1,168
	300	Murray Street Investment Trust I, SUB, 4.647%, 03/09/17		318

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 41

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Diversified Financial Services — Continued
		National Rural Utilities Cooperative Finance Corp.,
	665	4.750%, 03/01/14		679
	200	10.375%, 11/01/18		275
	550	Principal Life Global Funding I, 5.050%, 03/15/15 (e)		583
		Shell International Finance B.V., (Netherlands),
	212	1.125%, 08/21/17		208
	275	4.000%, 03/21/14		280
	1,020	4.300%, 09/22/19		1,112
	1,005	4.375%, 03/25/20		1,098
	1,280	6.375%, 12/15/38		1,601
				66,041
		Insurance — 1.2%
		ACE INA Holdings, Inc.,
	455	2.600%, 11/23/15		472
	410	5.600%, 05/15/15		442
		Aflac, Inc.,
	228	2.650%, 02/15/17		233
	1,021	3.625%, 06/15/23		986
	260	4.000%, 02/15/22		264
	317	6.450%, 08/15/40		377
	200	8.500%, 05/15/19		256
	520	AIG SunAmerica Global Financing X, 6.900%, 03/15/32 (e)		634
	651	Allstate Corp. (The), 3.150%, 06/15/23		626
	2,985	American International Group, Inc., 5.450%, 05/18/17		3,314
		Aon Corp.,
	402	3.125%, 05/27/16		419
	336	3.500%, 09/30/15		352
	306	6.250%, 09/30/40		350
		Berkshire Hathaway Finance Corp.,
	404	1.300%, 05/15/18		391
	233	2.450%, 12/15/15		242
	233	3.000%, 05/15/22		224
	748	4.300%, 05/15/43		681
	1,574	4.400%, 05/15/42		1,463
	1,670	5.400%, 05/15/18		1,913
		Berkshire Hathaway, Inc.,
	1,387	3.400%, 01/31/22		1,387
	840	3.750%, 08/15/21		862
	120	Chubb Corp. (The), 5.750%, 05/15/18		139
		CNA Financial Corp.,
	750	5.850%, 12/15/14		795

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Insurance — Continued
	785	5.875%, 08/15/20		888
	408	Liberty Mutual Group, Inc., 5.000%, 06/01/21 (e)		429
		Lincoln National Corp.,
	345	4.200%, 03/15/22		351
	253	4.850%, 06/24/21		270
	280	Massachusetts Mutual Life Insurance Co., 5.375%, 12/01/41 (e)		292
		MassMutual Global Funding II,
	1,500	2.000%, 04/05/17 (e)		1,491
	338	2.875%, 04/21/14 (e)		343
	540	3.125%, 04/14/16 (e)		567
	920	MetLife Institutional Funding II, VAR, 1.174%, 04/04/14 (e)		925
	535	MetLife, Inc., Series A, 6.817%, 08/15/18		645
		Metropolitan Life Global Funding I,
	604	1.700%, 06/29/15 (e)		612
	300	1.875%, 06/18/18 (e)		293
	1,150	2.000%, 01/10/14 (e)		1,157
	820	2.500%, 09/29/15 (e)		847
	400	3.125%, 01/11/16 (e)		416
	1,900	3.650%, 06/14/18 (e)		2,004
	1,277	3.875%, 04/11/22 (e)		1,298
	100	5.125%, 06/10/14 (e)		104
	1,093	5.200%, 09/18/13 (e)		1,095
	1,750	Nationwide Mutual Insurance Co., 9.375%, 08/15/39 (e)		2,432
		New York Life Global Funding,
	740	0.750%, 07/24/15 (e)		739
	350	1.300%, 01/12/15 (e)		353
	2,637	5.375%, 09/15/13 (e)		2,642
	650	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		667
	570	Pacific Life Insurance Co., 9.250%, 06/15/39 (e)		792
		Pricoa Global Funding I,
	384	1.600%, 05/29/18 (e)		371
	2,100	5.450%, 06/11/14 (e)		2,178
	166	Principal Financial Group, Inc., 1.850%, 11/15/17		163
	304	Principal Life Global Funding II, 1.000%, 12/11/15 (e)		304
	1,750	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		2,207
	275	Travelers Cos., Inc. (The), 5.800%, 05/15/18		319
				44,016

SEE NOTES TO FINANCIAL STATEMENTS.

42 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Real Estate Investment Trusts (REITs) — 0.3%
	471	American Tower Trust I, 1.551%, 03/15/18 (e)		454
		CommonWealth REIT,
	600	5.875%, 09/15/20		604
	1,340	6.650%, 01/15/18		1,437
	608	ERP Operating LP, 4.625%, 12/15/21		636
		HCP, Inc.,
	331	2.625%, 02/01/20		310
	161	3.750%, 02/01/19		165
	895	5.375%, 02/01/21		969
	534	ProLogis LP, 4.250%, 08/15/23		526
		Simon Property Group LP,
	917	2.150%, 09/15/17		922
	579	4.125%, 12/01/21		600
	32	4.200%, 02/01/15		33
	200	4.375%, 03/01/21		211
	705	5.625%, 08/15/14		736
	675	6.100%, 05/01/16		753
	345	6.125%, 05/30/18		403
	370	6.750%, 05/15/14		380
		WEA Finance LLC/WT Finance Aust Pty Ltd.,
	579	3.375%, 10/03/22 (e)		540
	1,848	6.750%, 09/02/19 (e)		2,182
				11,861
		Thrifts & Mortgage Finance — 0.1%
	400	Countrywide Financial Corp., 6.250%, 05/15/16		434
		Stadshypotek AB, (Sweden),
	1,463	1.450%, 09/30/13 (e)		1,465
	1,148	1.875%, 10/02/19 (e)		1,089
				2,988
		Total Financials		327,727
		Health Care — 0.5%
		Biotechnology — 0.2%
		Amgen, Inc.,
	1,000	3.875%, 11/15/21		1,004
	237	4.500%, 03/15/20		253
	500	4.950%, 10/01/41		472
	2,000	5.150%, 11/15/41		1,946
	265	5.650%, 06/15/42		274
	570	5.700%, 02/01/19		651
	720	5.750%, 03/15/40		757
	1,336	Celgene Corp., 3.250%, 08/15/22		1,255
				6,612

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Health Care Equipment & Supplies — 0.0% (g)
		Baxter International, Inc.,
	286	1.850%, 06/15/18		284
	380	4.000%, 03/01/14		386
	245	4.625%, 03/15/15		260
	100	Becton Dickinson and Co., 5.000%, 05/15/19		112
				1,042
		Health Care Providers & Services — 0.1%
		Aetna, Inc.,
	265	4.500%, 05/15/42		246
	440	6.750%, 12/15/37		540
	164	McKesson Corp., 0.950%, 12/04/15		164
	370	Medco Health Solutions, Inc., 2.750%, 09/15/15		381
		UnitedHealth Group, Inc.,
	173	2.750%, 02/15/23		159
	400	2.875%, 03/15/23		371
	975	3.375%, 11/15/21		963
	620	6.625%, 11/15/37		765
		WellPoint, Inc.,
	467	2.300%, 07/15/18		462
	615	3.125%, 05/15/22		579
	280	3.300%, 01/15/23		263
	500	4.625%, 05/15/42		462
	535	4.650%, 01/15/43		495
				5,850
		Pharmaceuticals — 0.2%
		AbbVie, Inc.,
	952	1.750%, 11/06/17		939
	609	2.900%, 11/06/22		567
	275	Actavis, Inc., 3.250%, 10/01/22		256
	645	AstraZeneca plc, (United Kingdom), 5.400%, 06/01/14		669
		GlaxoSmithKline Capital, Inc.,
	485	4.375%, 04/15/14		497
	750	5.650%, 05/15/18		865
	530	6.375%, 05/15/38		659
		Merck & Co., Inc.,
	474	2.400%, 09/15/22		435
	562	2.800%, 05/18/23		525
	650	6.000%, 09/15/17		753
	650	Pfizer, Inc., 3.000%, 06/15/23		617
		Zoetis, Inc.,
	193	1.875%, 02/01/18 (e)		189

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 43

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Pharmaceuticals — Continued
	123	4.700%, 02/01/43 (e)		116
				7,087
		Total Health Care		20,591
		Industrials — 1.1%
		Aerospace & Defense — 0.2%
	400	BAE Systems Holdings, Inc., 6.375%, 06/01/19 (e)		457
	676	BAE Systems plc, (United Kingdom), 5.800%, 10/11/41 (e)		704
	200	Boeing Co. (The), 7.950%, 08/15/24		272
	557	EADS Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		507
	390	Honeywell International, Inc., 5.300%, 03/01/18		444
		Lockheed Martin Corp.,
	387	2.125%, 09/15/16		395
	1,281	4.070%, 12/15/42		1,132
	292	4.850%, 09/15/41		290
	300	Northrop Grumman Systems Corp., 7.750%, 02/15/31		389
	215	Precision Castparts Corp., 0.700%, 12/20/15		214
		United Technologies Corp.,
	214	1.800%, 06/01/17		215
	681	3.100%, 06/01/22		664
	914	4.500%, 06/01/42		900
	1,261	6.125%, 02/01/19		1,492
				8,075
		Air Freight & Logistics — 0.0% (g)
	214	United Parcel Service, Inc., 2.450%, 10/01/22		198
		Airlines — 0.1%
	441	Air Canada 2013-1 Class A Pass-Through Trust, (Canada), 4.125%, 05/15/25 (e)		426
	228	American Airlines, 2011-1 Class A Pass-Through Trust, 5.250%, 01/31/21		236
	688	American Airlines, 2013-2 Class A Pass-Through Trust, 4.950%, 01/15/23 (e)		691
	243	Continental Airlines, 1999-2 Class A-1 Pass-Through Trust, 7.256%, 03/15/20		263
	439	Continental Airlines, 2007-1 Class A Pass-Through Trust, 5.983%, 04/19/22		467
	212	Continental Airlines, 2012-2 Class A Pass-Through Trust, 4.000%, 10/29/24		208
	542	Delta Air Lines, 2010-2 Class A Pass-Through Trust, 4.950%, 05/23/19		580
	198	Delta Air Lines, 2011-1 Class A Pass-Through Trust, 5.300%, 04/15/19		212

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Airlines — Continued
	465	Delta Air Lines, 2012-1 Class A Pass-Through Trust, 4.750%, 05/07/20		494
				3,577
		Commercial Services & Supplies — 0.1%
		ADT Corp. (The),
	820	3.500%, 07/15/22		685
	264	4.125%, 06/15/23		229
	328	4.875%, 07/15/42		240
	200	Pitney Bowes, Inc., 5.600%, 03/15/18		214
	614	Republic Services, Inc., 3.550%, 06/01/22		595
		Waste Management, Inc.,
	214	4.750%, 06/30/20		230
	455	7.375%, 03/11/19		546
				2,739
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	226	1.625%, 05/08/17		224
	292	2.875%, 05/08/22		278
	145	4.375%, 05/08/42		137
	789	Fluor Corp., 3.375%, 09/15/21		781
				1,420
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	182	1.500%, 11/02/17 (e)		178
	170	4.000%, 11/02/32 (e)		156
	500	5.600%, 05/15/18		566
	300	7.625%, 04/01/24		356
				1,256
		Industrial Conglomerates — 0.1%
	592	Danaher Corp., 3.900%, 06/23/21		618
	212	General Electric Co., 2.700%, 10/09/22		198
	290	Ingersoll-Rand Co., 6.391%, 11/15/27		315
	412	Ingersoll-Rand Global Holding Co., Ltd., (Bermuda), 4.250%, 06/15/23 (e)		405
		Koninklijke Philips N.V., (Netherlands),
	970	3.750%, 03/15/22		961
	409	5.750%, 03/11/18		469
	130	7.200%, 06/01/26		156
	300	Siemens Financieringsmaatschappij N.V., (Netherlands), 5.750%, 10/17/16 (e)		339
				3,461
		Machinery — 0.1%
	164	Caterpillar, Inc., 2.600%, 06/26/22		153

SEE NOTES TO FINANCIAL STATEMENTS.

44 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Machinery — Continued
		Deere & Co.,
	819	2.600%, 06/08/22		768
	346	3.900%, 06/09/42		308
	1,920	Illinois Tool Works, Inc., 3.900%, 09/01/42		1,663
	205	Parker Hannifin Corp., 5.500%, 05/15/18		231
				3,123
		Road & Rail — 0.5%
		Burlington Northern Santa Fe LLC,
	200	3.000%, 03/15/23		186
	522	3.050%, 03/15/22		497
	300	3.450%, 09/15/21		299
	136	3.600%, 09/01/20		140
	375	4.375%, 09/01/42		340
	769	5.150%, 09/01/43		780
	1,000	5.400%, 06/01/41		1,048
	540	5.650%, 05/01/17		610
	250	5.750%, 03/15/18		287
	425	5.750%, 05/01/40		465
	250	6.700%, 08/01/28		295
	450	7.000%, 02/01/14		461
		Canadian Pacific Railway Co., (Canada),
	250	7.125%, 10/15/31		304
		CSX Corp.,
	191	4.100%, 03/15/44		165
	300	4.250%, 06/01/21		316
	575	5.500%, 04/15/41		607
	145	6.250%, 04/01/15		157
	205	7.375%, 02/01/19		250
	500	7.900%, 05/01/17		592
		ERAC USA Finance LLC,
	154	2.250%, 01/10/14 (e)		155
	355	2.750%, 03/15/17 (e)		360
	559	4.500%, 08/16/21 (e)		576
	436	5.625%, 03/15/42 (e)		444
	350	6.375%, 10/15/17 (e)		402
	746	6.700%, 06/01/34 (e)		845
		Norfolk Southern Corp.,
	746	3.250%, 12/01/21		730
	595	3.950%, 10/01/42		512
	100	6.000%, 03/15/05		109
	1,776	6.000%, 05/23/11 (†)		1,935
	355	7.700%, 05/15/17		427
	479	Penske Truck Leasing Co. LP/PTL Finance Corp., 2.875%, 07/17/18 (e)		474

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Road & Rail — Continued
		Ryder System, Inc.,
	484	2.500%, 03/01/17		485
	434	3.600%, 03/01/16		454
		Union Pacific Corp.,
	182	2.950%, 01/15/23		172
	838	3.646%, 02/15/24 (e)		831
	710	4.163%, 07/15/22		742
	200	4.300%, 06/15/42		188
	235	4.875%, 01/15/15		248
		United Parcel Service of America, Inc.,
	355	8.375%, 04/01/20		458
	160	SUB, 8.375%, 04/01/30		219
				18,565
		Total Industrials		42,414
		Information Technology — 1.1%
		Communications Equipment — 0.1%
		Cisco Systems, Inc.,
	878	5.500%, 02/22/16		975
	350	5.500%, 01/15/40		391
	755	5.900%, 02/15/39		885
				2,251
		Computers & Peripherals — 0.4%
		Apple, Inc.,
	2,556	2.400%, 05/03/23		2,310
	2,069	VAR, 0.516%, 05/03/18		2,066
	300	Dell, Inc., 7.100%, 04/15/28		289
		EMC Corp.,
	850	1.875%, 06/01/18		840
	1,000	3.375%, 06/01/23		967
		Hewlett-Packard Co.,
	583	2.600%, 09/15/17		585
	600	4.300%, 06/01/21		579
	781	4.375%, 09/15/21		750
	387	4.650%, 12/09/21		379
	670	4.750%, 06/02/14		689
	1,365	5.400%, 03/01/17		1,495
	2,500	6.000%, 09/15/41		2,293
	1,230	6.125%, 03/01/14		1,260
				14,502
		Electronic Equipment, Instruments & Components — 0.1%
		Arrow Electronics, Inc.,
	219	3.000%, 03/01/18		219
	575	3.375%, 11/01/15		595

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 45

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Electronic Equipment, Instruments & Components — Continued
	190	4.500%, 03/01/23		186
	165	6.000%, 04/01/20		178
	485	6.875%, 06/01/18		551
	1,088	7.500%, 01/15/27		1,226
				2,955
		Internet Software & Services — 0.0% (g)
		eBay, Inc.,
	300	2.600%, 07/15/22		277
	271	4.000%, 07/15/42		228
				505
		IT Services — 0.2%
		International Business Machines Corp.,
	409	1.250%, 02/06/17		405
	3,267	1.625%, 05/15/20		3,032
	2,600	5.700%, 09/14/17		2,989
	690	6.220%, 08/01/27		833
	1,075	7.625%, 10/15/18		1,355
				8,614
		Office Electronics — 0.0% (g)
		Xerox Corp.,
	196	2.950%, 03/15/17		200
	270	4.500%, 05/15/21		279
	610	5.625%, 12/15/19		674
	550	6.750%, 02/01/17		627
	100	8.250%, 05/15/14		105
				1,885
		Semiconductors & Semiconductor Equipment — 0.1%
		Intel Corp.,
	697	3.300%, 10/01/21		690
	685	4.000%, 12/15/32		641
	1,360	National Semiconductor Corp., 6.600%, 06/15/17		1,587
		Texas Instruments, Inc.,
	750	1.375%, 05/15/14		755
	365	1.650%, 08/03/19		349
				4,022
		Software — 0.2%
	360	Intuit, Inc., 5.750%, 03/15/17		399
		Microsoft Corp.,
	262	0.875%, 11/15/17		254
	720	1.625%, 09/25/15		736
	384	2.125%, 11/15/22		344

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Software — Continued
	810	2.375%, 05/01/23		735
	117	4.500%, 10/01/40		114
		Oracle Corp.,
	500	5.000%, 07/08/19		567
	1,412	5.250%, 01/15/16		1,554
	728	5.750%, 04/15/18		843
	465	6.500%, 04/15/38		580
				6,126
		Total Information Technology		40,860
		Materials — 0.5%
		Chemicals — 0.3%
		Dow Chemical Co. (The),
	542	3.000%, 11/15/22		499
	385	4.125%, 11/15/21		391
	203	4.250%, 11/15/20		211
	200	5.250%, 11/15/41		200
	370	7.375%, 11/01/29		474
	158	8.550%, 05/15/19		201
		E.I. du Pont de Nemours & Co.,
	635	1.950%, 01/15/16		648
	350	4.900%, 01/15/41		358
	1,630	6.000%, 07/15/18		1,918
		Ecolab, Inc.,
	447	1.450%, 12/08/17		435
	150	5.500%, 12/08/41		161
		Mosaic Co. (The),
	280	3.750%, 11/15/21		270
	79	4.875%, 11/15/41		73
	85	Potash Corp. of Saskatchewan, Inc., (Canada), 3.250%, 12/01/17		87
		PPG Industries, Inc.,
	114	5.500%, 11/15/40		121
	700	6.650%, 03/15/18		819
	355	9.000%, 05/01/21		465
		Praxair, Inc.,
	662	4.625%, 03/30/15		704
	885	5.250%, 11/15/14		935
	1,000	Union Carbide Corp., 7.500%, 06/01/25		1,171
	850	7.750%, 10/01/96		947
				11,088
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	410	5.400%, 03/29/17		459
	425	5.500%, 04/01/14		437

SEE NOTES TO FINANCIAL STATEMENTS.

46 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Metals & Mining — Continued
	560	6.500%, 04/01/19		663
		Freeport-McMoRan Copper & Gold, Inc.,
	1,329	2.150%, 03/01/17		1,301
	688	3.100%, 03/15/20 (e)		624
	400	3.875%, 03/15/23 (e)		357
	299	5.450%, 03/15/43 (e)		258
	283	Nucor Corp., 4.000%, 08/01/23		276
	295	Placer Dome, Inc., (Canada), 6.450%, 10/15/35		268
		Rio Tinto Finance USA Ltd., (Australia),
	117	3.500%, 11/02/20		115
	550	3.750%, 09/20/21		535
	650	9.000%, 05/01/19		833
	393	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		384
				6,510
		Total Materials		17,598
		Telecommunication Services — 1.1%
		Diversified Telecommunication Services — 1.0%
		AT&T, Inc.,
	345	0.900%, 02/12/16		343
	879	4.300%, 12/15/42		755
	462	4.350%, 06/15/45		395
	850	4.450%, 05/15/21		900
	386	5.100%, 09/15/14		404
	375	5.350%, 09/01/40		373
	250	5.500%, 02/01/18		284
	2,700	6.300%, 01/15/38		3,009
		BellSouth Corp.,
	1,373	5.200%, 09/15/14		1,437
	25	6.875%, 10/15/31		28
		BellSouth Telecommunications, Inc.,
	578	6.300%, 12/15/15		596
	300	7.000%, 10/01/25		342
		British Telecommunications plc, (United Kingdom),
	200	2.000%, 06/22/15		203
	150	9.625%, 12/15/30		227
	500	Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14		510
	600	Centel Capital Corp., 9.000%, 10/15/19		717
		CenturyLink, Inc.,
	1,380	Series S, 6.450%, 06/15/21		1,373
	770	Series P, 7.600%, 09/15/39		693

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Diversified Telecommunication Services — Continued
		Deutsche Telekom International Finance B.V., (Netherlands),
	336	2.250%, 03/06/17 (e)		339
	1,150	4.875%, 07/08/14		1,190
	232	4.875%, 03/06/42 (e)		220
	400	6.000%, 07/08/19		467
	325	8.750%, 06/15/30		455
	2,600	GTE Corp., 6.840%, 04/15/18		3,057
	1,742	GTP Acquisition Partners I LLC, 4.347%, 06/15/16 (e)		1,837
	267	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		262
		Orange S.A., (France),
	560	2.750%, 09/14/16		575
	1,305	8.500%, 03/01/31		1,768
	741	Qwest Corp., 6.750%, 12/01/21		794
		Telecom Italia Capital S.A., (Luxembourg),
	1,621	5.250%, 11/15/13		1,633
	765	6.999%, 06/04/18		828
		Telefonica Emisiones S.A.U., (Spain),
	252	3.192%, 04/27/18		246
	316	5.462%, 02/16/21		323
	515	5.877%, 07/15/19		549
	300	6.421%, 06/20/16		328
		Verizon Communications, Inc.,
	650	5.500%, 04/01/17		730
	443	5.550%, 02/15/16		488
	100	5.850%, 09/15/35		105
	175	6.400%, 02/15/38		197
	1,250	7.350%, 04/01/39		1,554
	1,475	7.750%, 12/01/30		1,881
	500	Verizon New England, Inc., 7.875%, 11/15/29		599
		Verizon Pennsylvania LLC,
	750	6.000%, 12/01/28		769
	1,444	8.350%, 12/15/30		1,787
				35,570
		Wireless Telecommunication Services — 0.1%
		America Movil S.A.B. de C.V., (Mexico),
	640	2.375%, 09/08/16		650
	592	3.125%, 07/16/22		533
	485	Crown Castle Towers LLC, 3.214%, 08/15/35 (e)		497
	400	Rogers Communications, Inc., (Canada), 8.750%, 05/01/32		526
		Vodafone Group plc, (United Kingdom),

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 47

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Wireless Telecommunication Services — Continued
	350	1.500%, 02/19/18		337
	1,200	1.625%, 03/20/17		1,183
	1,145	5.000%, 09/15/15		1,234
				4,960
		Total Telecommunication Services		40,530
		Utilities — 1.6%
		Electric Utilities — 1.2%
	229	Alabama Power Co., 6.125%, 05/15/38		271
	286	American Electric Power Co., Inc., 1.650%, 12/15/17		278
		Arizona Public Service Co.,
	296	4.500%, 04/01/42		284
	467	5.050%, 09/01/41		488
	380	Baltimore Gas & Electric Co., 2.800%, 08/15/22		358
	1,005	Cleveland Electric Illuminating Co. (The), Series D, 7.880%, 11/01/17		1,196
	831	Comision Federal de Electricidad, (Mexico), 4.875%, 05/26/21 (e)		839
	185	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		213
	224	DTE Electric Co., 2.650%, 06/15/22		212
		Duke Energy Carolinas LLC,
	129	4.250%, 12/15/41		122
	660	5.100%, 04/15/18		746
	100	6.000%, 01/15/38		118
		Duke Energy Florida, Inc.,
	290	5.650%, 06/15/18		334
	240	6.400%, 06/15/38		295
	1,310	Duke Energy Indiana, Inc., 6.350%, 08/15/38		1,613
		Duke Energy Progress, Inc.,
	525	2.800%, 05/15/22		501
	273	4.100%, 05/15/42		251
	125	4.100%, 03/15/43		115
	888	5.125%, 09/15/13		890
	310	5.300%, 01/15/19		355
	950	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		976
		Florida Power & Light Co.,
	420	5.950%, 10/01/33		506
	335	5.950%, 02/01/38		403
		Georgia Power Co.,
	210	5.950%, 02/01/39		242
	225	6.000%, 11/01/13		227
	229	Great Plains Energy, Inc., 4.850%, 06/01/21		244

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Electric Utilities — Continued
		Hydro-Quebec, (Canada),
	350	8.050%, 07/07/24		472
	1,000	8.400%, 01/15/22		1,333
	100	Indiana Michigan Power Co., 7.000%, 03/15/19		119
	100	Jersey Central Power & Light Co., 7.350%, 02/01/19		119
	769	John Sevier Combined Cycle Generation LLC, 4.626%, 01/15/42		777
		Kansas City Power & Light Co.,
	403	3.150%, 03/15/23		380
	1,400	5.300%, 10/01/41		1,451
	17	Kiowa Power Partners LLC, 4.811%, 12/30/13 (e)		17
	105	MidAmerican Energy Co., 5.300%, 03/15/18		119
		Nevada Power Co.,
	55	5.375%, 09/15/40		61
	305	5.450%, 05/15/41		343
	720	6.500%, 08/01/18		858
	100	Series N, 6.650%, 04/01/36		126
		NextEra Energy Capital Holdings, Inc.,
	196	1.200%, 06/01/15		197
	725	6.000%, 03/01/19		834
	280	7.875%, 12/15/15		321
	300	Niagara Mohawk Power Corp., 4.881%, 08/15/19 (e)		333
	510	Northern States Power Co., 6.250%, 06/01/36		636
		Ohio Power Co.,
	320	5.750%, 09/01/13		320
	310	6.050%, 05/01/18		357
		Oncor Electric Delivery Co. LLC,
	840	6.800%, 09/01/18		1,003
	110	7.000%, 09/01/22		136
		Pacific Gas & Electric Co.,
	544	2.450%, 08/15/22		493
	71	3.250%, 09/15/21		70
	250	3.250%, 06/15/23		238
	217	4.450%, 04/15/42		200
	390	4.500%, 12/15/41		363
	780	5.625%, 11/30/17		892
	100	6.050%, 03/01/34		113
	160	8.250%, 10/15/18		204
		PacifiCorp,
	180	5.500%, 01/15/19		208
	150	5.650%, 07/15/18		175

SEE NOTES TO FINANCIAL STATEMENTS.

48 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Electric Utilities — Continued
		Peco Energy Co.,
	350	2.375%, 09/15/22		325
	175	5.350%, 03/01/18		200
	1,070	Potomac Electric Power Co., 6.500%, 11/15/37		1,358
		Progress Energy, Inc.,
	673	3.150%, 04/01/22		644
	300	6.050%, 03/15/14		308
		Public Service Co. of Colorado,
	250	2.250%, 09/15/22		227
	90	3.200%, 11/15/20		91
	125	5.800%, 08/01/18		146
	2,490	Public Service Co. of Oklahoma, Series G, 6.625%, 11/15/37		2,954
		Public Service Electric & Gas Co.,
	205	5.300%, 05/01/18		234
	277	5.375%, 11/01/39		309
	2,000	6.330%, 11/01/13		2,018
		Southern California Edison Co.,
	175	4.150%, 09/15/14		181
	765	5.500%, 08/15/18		883
	391	5.750%, 03/15/14		402
	200	5.950%, 02/01/38		239
	1,185	6.050%, 03/15/39		1,445
		Southern Co. (The),
	363	1.950%, 09/01/16		369
	270	4.150%, 05/15/14		277
	570	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		733
	312	State Grid Overseas Investment Ltd., (United Kingdom), 1.750%, 05/22/18 (e)		300
		Virginia Electric and Power Co.,
	1,395	5.400%, 04/30/18		1,602
	625	5.950%, 09/15/17		725
		Wisconsin Electric Power Co.,
	21	2.950%, 09/15/21		21
	450	6.000%, 04/01/14		464
	265	6.250%, 12/01/15		296
		Xcel Energy, Inc.,
	162	0.750%, 05/09/16		160
	92	4.800%, 09/15/41		92
	200	6.500%, 07/01/36		245
				42,593

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Gas Utilities — 0.1%
		AGL Capital Corp.,
	208	4.400%, 06/01/43		193
	1,445	5.875%, 03/15/41		1,620
		Atmos Energy Corp.,
	828	4.150%, 01/15/43		753
	285	8.500%, 03/15/19		364
	308	Boston Gas Co., 4.487%, 02/15/42 (e)		293
	335	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		389
				3,612
		Independent Power Producers & Energy Traders — 0.1%
		Exelon Generation Co. LLC,
	1,020	4.000%, 10/01/20		1,014
	235	5.750%, 10/01/41		233
	1,500	PPL Energy Supply LLC, 4.600%, 12/15/21		1,505
	772	PSEG Power LLC, 5.125%, 04/15/20		842
	202	Southern Power Co., 5.150%, 09/15/41		202
				3,796
		Multi-Utilities — 0.2%
		AGL Capital Corp.,
	563	3.500%, 09/15/21		567
	1,243	6.375%, 07/15/16		1,406
	596	Consolidated Edison Co. of New York, Inc., 5.700%, 06/15/40		688
		Consumers Energy Co.,
	216	2.850%, 05/15/22		209
	130	5.650%, 04/15/20		151
	235	Delmarva Power & Light Co., 4.000%, 06/01/42		217
		Dominion Resources, Inc.,
	920	Series F, 5.250%, 08/01/33		994
	300	7.000%, 06/15/38		385
	600	8.875%, 01/15/19		774
		Nisource Finance Corp.,
	370	3.850%, 02/15/23		358
	360	4.450%, 12/01/21		369
	1,256	5.800%, 02/01/42		1,305
		San Diego Gas & Electric Co.,
	379	3.950%, 11/15/41		350
	275	6.000%, 06/01/26		333
		Sempra Energy,
	350	2.875%, 10/01/22		323
	1,145	6.150%, 06/15/18		1,325
	180	6.500%, 06/01/16		204

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 49

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Multi-Utilities — Continued
	860	8.900%, 11/15/13		874
	435	9.800%, 02/15/19		581
				11,413
		Water Utilities — 0.0% (g)
	1,100	American Water Capital Corp., 6.085%, 10/15/17		1,266
		Total Utilities		62,680
		Total Corporate Bonds (Cost $665,696)		692,585
	Foreign Government Securities — 1.1%
		Israel Government AID Bond, (Israel),
	1,973	Zero Coupon, 08/15/17		1,858
	20,000	Zero Coupon, 03/15/18		18,482
	1,776	Zero Coupon, 02/15/22		1,366
	1,500	Zero Coupon, 11/01/23		1,050
	1,500	Zero Coupon, 11/01/24		998
	1,000	5.500%, 09/18/33		1,194
		Province of Ontario, (Canada),
	1,387	1.650%, 09/27/19		1,320
	700	2.700%, 06/16/15		726
	2,220	2.950%, 02/05/15		2,297
	377	Province of Quebec, (Canada), Series A, SUB, 7.365%, 03/06/26		495
	5,000	Tunisia Government AID Bond, (Tunisia), 1.686%, 07/16/19		4,810
		United Mexican States, (Mexico),
	120	4.750%, 03/08/44		104
	856	6.625%, 03/03/15		929
	3,338	Series A, 7.500%, 04/08/33		4,189
		Total Foreign Government Securities (Cost $39,580)		39,818
	Mortgage Pass-Through Securities — 14.8%
		Federal Home Loan Mortgage Corp.,
	39	ARM, 2.089%, 07/01/19		41
	483	ARM, 2.241%, 10/01/36		510
	39	ARM, 2.330%, 04/01/30		41
	606	ARM, 2.355%, 12/01/33		637
	143	ARM, 2.375%, 05/01/36		152
	1,099	ARM, 2.398%, 03/01/37		1,174
	369	ARM, 2.540%, 12/01/36		395
	1,108	ARM, 2.561%, 04/01/34		1,168
	303	ARM, 2.641%, 02/01/36		321
	474	ARM, 2.693%, 12/01/34		502
	496	ARM, 2.707%, 11/01/36		526

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	123		ARM, 2.713%, 10/01/36		132
	273		ARM, 2.755%, 02/01/37		291
	637		ARM, 3.239%, 10/01/36		670
	2,480		ARM, 4.006%, 07/01/40		2,617
	698		ARM, 4.399%, 02/01/36		742
	474		ARM, 5.030%, 07/01/36		511
	701		ARM, 5.031%, 01/01/35		750
	657		ARM, 5.074%, 11/01/36		699
			Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	755		4.000%, 08/01/18 - 05/01/19		796
	145		4.500%, 08/01/18		153
	407		5.000%, 12/01/18		431
	3,363		5.500%, 06/01/17 - 01/01/24		3,639
	60		6.000%, 04/01/18		64
	516		6.500%, 08/01/16 - 02/01/19		546
	12		7.000%, 04/01/17		13
	—	(h)	7.500%, 10/01/14		—	(h)
	2		8.500%, 11/01/15		2
			Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	2,996		3.500%, 01/01/32 - 03/01/32		3,053
	126		6.000%, 12/01/22		138
	381		6.500%, 11/01/22		421
			Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	4,670		3.500%, 04/01/43		4,660
	1,400		4.000%, 09/01/35		1,448
	6,367		4.500%, 05/01/41		6,707
	5,906		5.000%, 09/01/34 - 08/01/40		6,377
	2,460		5.500%, 10/01/33 - 07/01/35		2,667
	423		6.000%, 12/01/33 - 01/01/34		467
	2,583		6.500%, 11/01/34 - 11/01/36		2,908
	771		7.000%, 07/01/32 - 10/01/36		878
	849		Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		987
			Federal Home Loan Mortgage Corp. Gold Pools, Other,
	3,050		3.000%, 03/01/33		2,948
	25,367		3.500%, 10/01/32 - 06/01/43		25,342
	10,277		4.000%, 01/01/32 - 01/01/43		10,591
	489		5.500%, 10/01/33 - 01/01/34		522
	895		6.000%, 02/01/33		977
	91		7.000%, 07/01/29		102
			Federal Home Loan Mortgage Corp., 30 Year, Single Family,
	3		12.000%, 08/01/15 - 07/01/19		3

SEE NOTES TO FINANCIAL STATEMENTS.

50 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — Continued
	2,557	Federal Home Loan Mortgage Corp., Multifamily Structured Pass-Through Certificates, Series K029, Class A2, VAR, 3.320%, 02/25/23		2,516
		Federal National Mortgage Association,
	127	ARM, 1.688%, 09/01/34		131
	1,044	ARM, 1.786%, 01/01/33		1,089
	771	ARM, 1.788%, 07/01/33		824
	12	ARM, 1.908%, 03/01/19		12
	687	ARM, 1.940%, 07/01/36		728
	1,590	ARM, 1.961%, 09/01/35		1,668
	1,864	ARM, 1.983%, 01/01/35		1,966
	535	ARM, 2.024%, 11/01/34		561
	740	ARM, 2.112%, 05/01/35		783
	645	ARM, 2.131%, 01/01/35		681
	349	ARM, 2.143%, 01/01/36		368
	228	ARM, 2.170%, 07/01/34		241
	331	ARM, 2.203%, 04/01/34		347
	7	ARM, 2.255%, 01/01/19		7
	362	ARM, 2.265%, 08/01/34		386
	353	ARM, 2.277%, 07/01/33 - 11/01/33		370
	732	ARM, 2.295%, 08/01/34		775
	54	ARM, 2.309%, 04/01/34		58
	890	ARM, 2.325%, 07/01/33		944
	1,036	ARM, 2.341%, 11/01/34		1,090
	614	ARM, 2.346%, 05/01/34		652
	2,035	ARM, 2.367%, 04/01/35		2,153
	494	ARM, 2.374%, 04/01/35		525
	217	ARM, 2.382%, 09/01/35		231
	220	ARM, 2.397%, 05/01/35		230
	1,127	ARM, 2.457%, 06/01/35		1,189
	261	ARM, 2.465%, 02/01/35		276
	355	ARM, 2.526%, 10/01/34		378
	316	ARM, 2.527%, 06/01/36		335
	804	ARM, 2.543%, 10/01/34		855
	566	ARM, 2.556%, 10/01/34		601
	315	ARM, 2.557%, 09/01/34		335
	230	ARM, 2.622%, 01/01/34		243
	572	ARM, 2.679%, 09/01/33		609
	308	ARM, 2.700%, 01/01/38		327
	84	ARM, 2.812%, 09/01/27		89
	198	ARM, 3.000%, 02/01/34		210
	119	ARM, 3.031%, 01/01/36		127
	686	ARM, 3.161%, 10/01/36		725
	68	ARM, 3.765%, 03/01/29		72
	318	ARM, 5.320%, 01/01/23		348

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	10,982	3.500%, 07/01/43 - 08/01/43		10,854
		Federal National Mortgage Association, 15 Year, Single Family,
	946	3.500%, 09/01/18 - 07/01/19		990
	2,327	4.000%, 07/01/18 - 11/01/18		2,456
	2,977	4.500%, 06/01/18 - 12/01/19		3,193
	1,029	5.000%, 06/01/18 - 08/01/24		1,099
	1,067	5.500%, 03/01/20 - 07/01/20		1,130
	6,008	6.000%, 06/01/16 - 01/01/24		6,540
	251	6.500%, 03/01/17 - 08/01/20		270
	242	7.000%, 03/01/17 - 09/01/17		257
	5	7.500%, 03/01/17		6
	2	8.000%, 11/01/15		3
		Federal National Mortgage Association, 20 Year, Single Family,
	1,737	3.500%, 08/01/32		1,776
	155	4.500%, 04/01/24		167
	1,358	6.500%, 05/01/22 - 04/01/25		1,501
		Federal National Mortgage Association, 30 Year, FHA/VA,
	96	6.000%, 09/01/33		106
	1,589	6.500%, 03/01/29 - 08/01/39		1,779
	46	7.000%, 02/01/33		53
	53	8.000%, 06/01/28		61
	20	9.000%, 05/01/18 - 12/01/25		22
		Federal National Mortgage Association, 30 Year, Single Family,
	487	4.500%, 11/01/33 - 02/01/35		516
	1,643	5.000%, 07/01/33 - 09/01/35		1,785
	2,214	5.500%, 09/01/31 - 03/01/34		2,429
	3,106	6.000%, 12/01/28 - 09/01/37		3,429
	1,396	6.500%, 11/01/29 - 08/01/31		1,570
	1,316	7.000%, 01/01/24 - 01/01/39		1,469
	670	7.500%, 08/01/36 - 11/01/37		777
	695	8.000%, 03/01/27 - 11/01/28		819
	1	9.000%, 04/01/26		1
	14	9.500%, 07/01/28		16
	2	12.500%, 01/01/16		2
		Federal National Mortgage Association, Other,
	1,483	VAR, 0.555%, 01/01/23		1,485
	5,964	VAR, 0.585%, 10/01/22 - 01/01/23		5,971
	972	VAR, 0.995%, 03/01/22		974
	2,436	VAR, 6.070%, 11/01/18		2,682
	8,813	Zero Coupon, 07/25/23 - 09/30/43		6,946
	2,000	1.690%, 12/01/19		1,904
	3,450	1.792%, 05/01/20		3,298

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 51

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — Continued
	3,988	1.808%, 06/01/20		3,805
	2,000	2.004%, 07/01/19		2,007
	1,500	2.066%, 12/01/20		1,397
	12,000	2.077%, 06/01/20		11,611
	4,569	2.097%, 08/01/19		4,455
	2,000	2.211%, 04/01/19		1,991
	1,485	2.221%, 04/01/19		1,470
	2,963	2.263%, 12/01/22		2,724
	4,046	2.283%, 12/01/22		3,723
	5,360	2.390%, 12/01/22		4,998
	5,479	2.418%, 12/01/22		5,082
	1,991	2.428%, 05/01/23		1,839
	3,375	2.449%, 11/01/22		3,148
	3,000	2.459%, 12/01/22		2,797
	3,500	2.480%, 12/01/22		3,266
	5,729	2.490%, 10/01/17		5,905
	2,992	2.500%, 06/01/23		2,769
	4,000	2.531%, 11/01/22		3,713
	2,968	2.542%, 02/01/23		2,782
	1,496	2.593%, 06/01/23		1,395
	7,000	2.604%, 10/01/22 - 05/01/23		6,489
	3,000	2.670%, 07/01/22		2,829
	6,900	2.690%, 10/01/17		7,149
	3,419	2.793%, 04/01/23		3,242
	3,272	2.841%, 03/01/22		3,296
	1,565	2.862%, 05/01/22		1,515
	3,814	2.970%, 11/01/18		3,944
	2,954	3.000%, 01/01/43		2,799
	1,469	3.038%, 05/01/22		1,438
	7,117	3.070%, 01/01/22		7,058
	4,500	3.079%, 07/01/22		4,407
	4,500	3.100%, 02/01/22		4,435
	2,779	3.160%, 02/01/22		2,769
	3,863	3.224%, 01/01/22 - 05/01/22		3,837
	9,879	3.230%, 11/01/20		10,060
	1,494	3.255%, 12/01/21		1,496
	2,000	3.290%, 10/01/20		2,046
	3,943	3.306%, 02/01/22		3,927
	2,242	3.368%, 01/01/22		2,253
	1,993	3.461%, 11/01/20		2,043
	961	3.487%, 11/01/20		987
	37,342	3.500%, 12/01/32 - 06/01/43		37,154
	2,000	3.503%, 08/01/17		2,115
	1,955	3.520%, 01/01/18		2,080
	1,467	3.544%, 09/01/20		1,515
	2,882	3.600%, 09/01/20		3,001

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	7,532	3.621%, 09/01/20		7,814
	4,914	3.658%, 10/01/20		5,098
	1,912	3.740%, 07/01/20		2,008
	983	3.761%, 01/01/25		972
	5,000	3.792%, 07/01/23		5,031
	2,960	3.802%, 09/01/20		3,095
	4,588	3.853%, 07/01/22		4,758
	3,000	3.895%, 09/01/21		3,125
	2,916	3.906%, 09/01/21		3,031
	6,794	3.916%, 09/01/21		7,068
	1,971	3.930%, 07/01/20		2,087
	4,753	3.947%, 06/01/17		5,086
	4,750	3.980%, 11/01/16		4,902
	1,540	3.999%, 01/01/21		1,617
	10,134	4.000%, 10/01/32 - 07/01/42		10,372
	5,000	4.019%, 09/01/21		5,228
	2,000	4.061%, 01/01/21		2,105
	7,956	4.081%, 07/01/20 - 07/01/21		8,369
	1,435	4.130%, 07/01/20		1,532
	2,380	4.250%, 04/01/21		2,537
	1,679	4.257%, 04/01/20		1,795
	4,460	4.267%, 11/01/19 - 08/01/21		4,755
	2,096	4.290%, 06/01/20		2,258
	1,476	4.350%, 04/01/20		1,597
	1,451	4.380%, 01/01/21		1,562
	1,897	4.381%, 11/01/19		2,075
	2,000	4.390%, 05/01/21		2,152
	2,000	4.391%, 04/01/21		2,132
	2,000	4.402%, 07/01/21		2,136
	2,433	4.443%, 08/01/20 - 04/01/21		2,648
	1,452	4.445%, 01/01/21		1,566
	1,460	4.461%, 07/01/21		1,565
	2,137	4.474%, 04/01/21		2,291
	5,000	4.484%, 06/01/21		5,355
	938	4.500%, 03/01/20		1,015
	959	4.514%, 04/01/20		1,039
	1,967	4.515%, 02/01/20		2,133
	6,719	4.530%, 12/01/19		7,345
	4,292	4.540%, 01/01/20		4,690
	2,000	4.546%, 02/01/20		2,164
	2,911	4.629%, 02/01/21		3,149
	3,889	4.794%, 01/01/21		4,240
	578	5.500%, 03/01/17 - 09/01/33		618
	1,979	6.000%, 09/01/37 - 06/01/39		2,101
	453	6.500%, 01/01/36 - 07/01/36		491
	85	7.000%, 10/01/46		92

SEE NOTES TO FINANCIAL STATEMENTS.

52 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — Continued
	73	10.890%, 04/15/19		80
		Government National Mortgage Association II, 30 Year, Single Family,
	369	4.500%, 08/20/33		396
	4,653	6.000%, 09/20/38		5,099
	71	7.500%, 02/20/28 - 09/20/28		87
	112	8.000%, 12/20/25 - 09/20/28		136
	33	8.500%, 05/20/25		39
		Government National Mortgage Association II, Other,
	10,081	4.375%, 06/20/63		10,887
	10,489	4.433%, 05/20/63		11,355
	3,017	4.462%, 05/20/63		3,254
	2,019	4.479%, 04/20/63		2,191
		Government National Mortgage Association, 15 Year, Single Family,
	74	6.500%, 06/15/17		78
	60	8.000%, 01/15/16		62
		Government National Mortgage Association, 30 Year, Single Family,
	349	6.500%, 03/15/28 - 04/15/33		389
	234	7.000%, 02/15/33 - 06/15/33		271
	85	7.500%, 11/15/22 - 11/15/31		93
	19	8.000%, 09/15/22 - 08/15/28		20
	3	9.000%, 12/15/16		4
	820	9.500%, 10/15/24		932
		Total Mortgage Pass-Through Securities (Cost $566,121)		562,043
	Municipal Bonds — 0.2% (t)
		California — 0.0% (g)
	440	Los Angeles Department of Airports, Rev., 6.582%, 05/15/39		520
	350	State of California, GO, 7.300%, 10/01/39		439
				959
		Illinois — 0.0% (g)
	160	State of Illinois, GO, 5.100%, 06/01/33		140
		New York — 0.1%
	360	New York State Dormitory Authority, State Personal Income Tax, Series D, Rev., 5.600%, 03/15/40		389
	1,825	Port Authority of New York & New Jersey, Taxable Consolidated 160, Rev., 5.647%, 11/01/40		1,979
	2,500	Port Authority of New York & New Jersey, Taxable Consolidated 170, Rev., 4.458%, 10/01/62		2,153
				4,521

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Ohio — 0.1%
	1,315	American Municipal Power Ohio, Inc., Meldahl Hydroelectric Project, Series B, Rev., 7.499%, 02/15/50		1,582
	1,563	Ohio State University (The), Series A, Rev., 4.800%, 06/01/11		1,365
				2,947
		Total Municipal Bonds (Cost $8,738)		8,567
	Supranational — 0.1%
	3,000	African Development Bank, 8.800%, 09/01/19		3,986
	641	Corp. Andina de Fomento, 3.750%, 01/15/16		668
		Total Supranational (Cost $4,580)		4,654
	U.S. Government Agency Securities — 2.2%
	646	Federal Farm Credit Bank, 5.125%, 11/15/18		744
	1,525	Federal Home Loan Bank, 5.500%, 07/15/36		1,817
		Federal National Mortgage Association,
	6,000	Zero Coupon, 06/01/17		5,660
	1,000	5.000%, 05/11/17		1,133
		Financing Corp. Fico,
	4,500	Zero Coupon, 05/11/18		4,124
	2,000	Zero Coupon, 04/05/19		1,757
	1,240	Zero Coupon, 09/26/19		1,071
		Government Trust Certificate,
	4,000	Zero Coupon, 10/01/15		3,890
	5,000	Zero Coupon, 04/01/16		4,807
	13,319	Zero Coupon, 10/01/19		11,167
		Residual Funding Corp. STRIPS,
	7,300	10/15/19		6,355
	30,450	07/15/20		25,706
	4,930	10/15/20		4,115
		Tennessee Valley Authority,
	304	4.625%, 09/15/60		287
	3,500	5.250%, 09/15/39		3,812
	1,115	5.880%, 04/01/36		1,322
		Tennessee Valley Authority STRIPS,
	2,000	05/01/19		1,738
	5,000	11/01/25		3,049
	800	06/15/35		303
		Total U.S. Government Agency Securities (Cost $85,108)		82,857
	U.S. Treasury Obligations — 24.1%
		U.S. Treasury Bonds,
	1,000	4.375%, 02/15/38		1,133
	7,575	4.500%, 02/15/36		8,747

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 53

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — Continued
	1,200	4.500%, 05/15/38		1,385
	300	4.500%, 08/15/39		347
	1,500	4.750%, 02/15/37		1,793
	2,900	5.000%, 05/15/37		3,585
	1,250	5.375%, 02/15/31		1,584
	750	6.125%, 11/15/27		1,004
	300	6.125%, 08/15/29		406
	2,296	6.250%, 08/15/23		3,009
	900	6.250%, 05/15/30		1,241
	400	6.625%, 02/15/27		556
	4,690	7.500%, 11/15/16		5,667
	1,881	7.875%, 02/15/21		2,612
	864	8.125%, 05/15/21		1,221
	2,225	8.500%, 02/15/20		3,106
	1,500	8.750%, 05/15/20		2,132
	6,675	8.750%, 08/15/20		9,551
	22,765	8.875%, 08/15/17		29,530
		U.S. Treasury Bonds STRIPS,
	4,400	02/15/14 (m)		4,398
	5,665	08/15/14 (m)		5,657
	20,533	11/15/14 (m)		20,480
	17,230	02/15/15 (m)		17,157
	16,180	02/15/15		16,115
	3,595	05/15/15		3,574
	2,049	08/15/15		2,033
	5,445	11/15/15		5,388
	28,397	11/15/15		28,103
	51,751	02/15/16		51,007
	14,070	05/15/16		13,820
	1,000	05/15/16		982
	5,681	08/15/16		5,549
	15,857	11/15/16		15,392
	20,629	02/15/17		19,905
	21,411	08/15/17		20,379
	20,589	11/15/17		19,456
	2,000	02/15/18		1,875
	8,400	05/15/18		7,810
	16,241	08/15/18		14,974
	6,982	02/15/19		6,329
	10,595	05/15/19		9,509
	22,360	08/15/19		19,886
	2,435	02/15/20		2,124
	67,929	05/15/20 (m)		58,651
	250	05/15/20		217
	37,935	08/15/20 (m)		32,416
	655	11/15/20		554

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	345	02/15/21		288
	17,000	05/15/21		14,041
	4,300	08/15/21		3,513
	8,025	11/15/21		6,479
	6,778	02/15/22		5,415
	5,487	02/15/23		4,192
	1,000	05/15/23		755
	200	05/15/24		144
	600	08/15/24		427
	1,400	11/15/24		985
	1,000	02/15/26		663
	1,500	05/15/26		983
	1,592	08/15/26		1,031
	28,150	11/15/26		18,022
	28,300	02/15/27		17,900
	3,550	05/15/27		2,218
	5,675	08/15/27		3,506
	800	11/15/27		489
	8,860	02/15/28		5,350
	5,600	05/15/28		3,343
	3,000	08/15/28		1,770
	2,500	11/15/28		1,458
	925	02/15/29		533
	1,600	08/15/29		902
	1,650	11/15/29		920
	22,100	02/15/30		12,191
	2,600	05/15/30		1,418
	8,200	08/15/30		4,423
	7,425	11/15/30		3,960
	6,100	02/15/31		3,216
	3,000	05/15/31		1,564
	4,500	08/15/31		2,323
	4,000	11/15/31		2,043
	1,550	02/15/32		783
	2,000	05/15/32		1,000
	350	08/15/32		173
	6,140	11/15/32		3,007
	11,150	05/15/33		5,348
	3,050	08/15/33		1,447
	4,500	11/15/33		2,113
	4,000	02/15/34		1,858
	2,800	05/15/34		1,289
	1,650	08/15/34		751
	2,850	02/15/35		1,271
	800	05/15/35		353
	100	08/15/35		44

SEE NOTES TO FINANCIAL STATEMENTS.

54 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — Continued
		U.S. Treasury Inflation Indexed Bonds,
	300	2.500%, 01/15/29		394
	799	3.625%, 04/15/28 (m)		1,569
		U.S. Treasury Inflation Indexed Notes,
	1,000	0.500%, 04/15/15		1,103
	1,000	1.125%, 01/15/21		1,128
	1,000	1.250%, 04/15/14		1,116
	630	1.375%, 07/15/18		741
	2,000	2.000%, 01/15/14		2,552
		U.S. Treasury Notes,
	1,500	0.250%, 10/31/13		1,500
	3,560	0.875%, 01/31/18		3,479
	4,510	1.000%, 11/30/19		4,241
	11,635	1.375%, 11/30/18		11,456
	4,900	1.500%, 08/31/18		4,876
	1,000	1.750%, 01/31/14		1,007
	31,000	1.750%, 10/31/18 (m)		31,148
	1,000	1.875%, 02/28/14		1,009
	2,000	1.875%, 04/30/14		2,023
	10,000	2.000%, 02/15/22		9,586
	12,245	2.125%, 12/31/15		12,704
	11,000	2.125%, 08/15/21		10,752
	10,000	2.250%, 07/31/18		10,320
	21,972	2.625%, 12/31/14		22,668
	1,000	2.625%, 02/29/16		1,051
	4,575	2.625%, 04/30/16		4,814
	9,300	2.625%, 01/31/18		9,789
	700	2.625%, 08/15/20		721
	2,300	2.625%, 11/15/20		2,359
	500	2.750%, 10/31/13		502
	19,485	2.750%, 05/31/17		20,650
	7,500	2.750%, 12/31/17		7,938
	8,000	3.125%, 10/31/16		8,563
	6,015	3.125%, 04/30/17		6,454
	11,638	3.125%, 05/15/19		12,466
	8,900	3.125%, 05/15/21		9,385
	15,700	3.250%, 12/31/16		16,884
	12,300	3.250%, 03/31/17		13,248
	2,600	3.500%, 02/15/18		2,835
	1,000	3.500%, 05/15/20		1,089
	9,500	3.625%, 02/15/21		10,380

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	10,000	4.000%, 02/15/15		10,538
	3,725	4.500%, 11/15/15		4,053
	10,375	4.750%, 08/15/17		11,799
		Total U.S. Treasury Obligations (Cost $881,252)		919,141
	Loan Assignments — 0.2%
		Financials — 0.2%
		Real Estate Management & Development — 0.2%
	866	FiveTen Group Holdings Ltd., Revolving Loan, VAR, 4.250%, 04/14/14 (i)		862
		Invitation Homes, Revolving Loan, VAR,
	6,515	3.750%, 03/15/15 (i)		6,482
		Tricon Capital Group Inc., Revolving Loan, VAR,
	1,138	4.100%, 06/13/15 (i)		1,132
		Total Loan Assignments (Cost $8,519)		8,476
SHARES
	Short-Term Investment — 2.4%
		Investment Company — 2.4%
	91,646	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.030% (b) (l) (Cost $91,646)		91,646
		Total Investments — 98.0% (Cost $3,612,239)		3,732,202
		Other Assets in Excess of Liabilities — 2.0%		74,784
		NET ASSETS — 100.0%	$	3,806,986

Percentages indicated are based on net assets.

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 55

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — 98.7%
		Consumer Discretionary — 12.1%
		Auto Components — 0.4%
	3	BorgWarner, Inc.		252
	7	Delphi Automotive plc, (United Kingdom)		361
	6	Goodyear Tire & Rubber Co. (The) (a)		112
	15	Johnson Controls, Inc.		627
				1,352
		Automobiles — 0.7%
	89	Ford Motor Co.		1,438
	17	General Motors Co. (a)		592
	5	Harley-Davidson, Inc.		304
				2,334
		Distributors — 0.1%
	4	Genuine Parts Co.		270
		Diversified Consumer Services — 0.1%
	6	H&R Block, Inc.		172
		Hotels, Restaurants & Leisure — 1.8%
	10	Carnival Corp.		362
	1	Chipotle Mexican Grill, Inc. (a)		285
	3	Darden Restaurants, Inc.		136
	6	International Game Technology		111
	5	Marriott International, Inc., Class A		216
	23	McDonald’s Corp.		2,137
	17	Starbucks Corp.		1,193
	4	Starwood Hotels & Resorts Worldwide, Inc.		281
	3	Wyndham Worldwide Corp.		182
	2	Wynn Resorts Ltd.		254
	10	Yum! Brands, Inc.		712
				5,869
		Household Durables — 0.3%
	6	D.R. Horton, Inc.		113
	2	Garmin Ltd., (Switzerland)		101
	2	Harman International Industries, Inc.		98
	3	Leggett & Platt, Inc.		93
	4	Lennar Corp., Class A		119
	7	Newell Rubbermaid, Inc.		165
	8	PulteGroup, Inc.		119
	2	Whirlpool Corp.		230
				1,038
		Internet & Catalog Retail — 1.2%
	8	Amazon.com, Inc. (a)		2,312
	2	Expedia, Inc.		99
	1	Netflix, Inc. (a)		360
	1	priceline.com, Inc. (a)		1,093

SHARES			SECURITY DESCRIPTION	VALUE($)
			Internet & Catalog Retail — Continued
	2		TripAdvisor, Inc. (a)		184
					4,048
			Leisure Equipment & Products — 0.1%
	3		Hasbro, Inc.		119
	8		Mattel, Inc.		316
					435
			Media — 3.6%
	5		Cablevision Systems Corp., Class A		87
	13		CBS Corp. (Non-Voting), Class B		659
	59		Comcast Corp., Class A		2,504
	13		DIRECTV (a)		734
	6		Discovery Communications, Inc., Class A (a)		429
	5		Gannett Co., Inc.		125
	10		Interpublic Group of Cos., Inc. (The)		152
	11		News Corp., Class A (a)		176
	6		Omnicom Group, Inc.		354
	2		Scripps Networks Interactive, Inc., Class A		141
	7		Time Warner Cable, Inc.		706
	21		Time Warner, Inc.		1,275
	45		Twenty-First Century Fox, Inc.		1,409
	10		Viacom, Inc., Class B		802
	41		Walt Disney Co. (The)		2,475
	—	(h)	Washington Post Co. (The), Class B		57
					12,085
			Multiline Retail — 0.8%
	7		Dollar General Corp. (a)		367
	5		Dollar Tree, Inc. (a)		267
	2		Family Dollar Stores, Inc.		154
	4		J.C. Penney Co., Inc. (a)		54
	5		Kohl’s Corp.		236
	9		Macy’s, Inc.		385
	3		Nordstrom, Inc.		187
	14		Target Corp.		918
					2,568
			Specialty Retail — 2.3%
	2		Abercrombie & Fitch Co., Class A		63
	1		AutoNation, Inc. (a)		41
	1		AutoZone, Inc. (a)		345
	5		Bed Bath & Beyond, Inc. (a)		364
	6		Best Buy Co., Inc.		218
	5		CarMax, Inc. (a)		241
	3		GameStop Corp., Class A		135
	7		Gap, Inc. (The)		265
	33		Home Depot, Inc. (The)		2,458

SEE NOTES TO FINANCIAL STATEMENTS.

56 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Specialty Retail — Continued
	5	L Brands, Inc.		311
	24	Lowe’s Cos., Inc.		1,110
	2	O’Reilly Automotive, Inc. (a)		306
	2	PetSmart, Inc.		164
	5	Ross Stores, Inc.		334
	15	Staples, Inc.		209
	3	Tiffany & Co.		209
	16	TJX Cos., Inc.		857
	2	Urban Outfitters, Inc. (a)		105
				7,735
		Textiles, Apparel & Luxury Goods — 0.7%
	6	Coach, Inc.		335
	1	Fossil Group, Inc. (a)		138
	16	NIKE, Inc., Class B		1,027
	2	PVH Corp.		236
	1	Ralph Lauren Corp.		228
	2	V.F. Corp.		371
				2,335
		Total Consumer Discretionary		40,241
		Consumer Staples — 10.1%
		Beverages — 2.3%
	4	Beam, Inc.		228
	3	Brown-Forman Corp., Class B		230
	87	Coca-Cola Co. (The)		3,304
	6	Coca-Cola Enterprises, Inc.		218
	3	Constellation Brands, Inc., Class A (a)		189
	5	Dr. Pepper Snapple Group, Inc.		206
	4	Molson Coors Brewing Co., Class B		173
	3	Monster Beverage Corp. (a)		187
	35	PepsiCo, Inc.		2,785
				7,520
		Food & Staples Retailing — 2.3%
	10	Costco Wholesale Corp.		1,104
	28	CVS Caremark Corp.		1,606
	12	Kroger Co. (The)		430
	5	Safeway, Inc.		141
	13	Sysco Corp.		429
	19	Walgreen Co.		936
	37	Wal-Mart Stores, Inc.		2,701
	8	Whole Foods Market, Inc.		411
				7,758
		Food Products — 1.6%
	15	Archer-Daniels-Midland Co.		524

SHARES		SECURITY DESCRIPTION	VALUE($)
		Food Products — Continued
	4	Campbell Soup Co.		174
	9	ConAgra Foods, Inc.		319
	15	General Mills, Inc.		718
	3	Hershey Co. (The)		311
	3	Hormel Foods Corp.		127
	2	JM Smucker Co. (The)		257
	6	Kellogg Co.		348
	13	Kraft Foods Group, Inc.		695
	3	McCormick & Co., Inc. (Non-Voting)		202
	5	Mead Johnson Nutrition Co.		343
	40	Mondelez International, Inc., Class A		1,236
	6	Tyson Foods, Inc., Class A		186
				5,440
		Household Products — 2.1%
	3	Clorox Co. (The)		246
	20	Colgate-Palmolive Co.		1,144
	9	Kimberly-Clark Corp.		812
	62	Procter & Gamble Co. (The)		4,823
				7,025
		Personal Products — 0.2%
	10	Avon Products, Inc.		194
	5	Estee Lauder Cos., Inc. (The), Class A		355
				549
		Tobacco — 1.6%
	45	Altria Group, Inc.		1,537
	9	Lorillard, Inc.		361
	37	Philip Morris International, Inc.		3,083
	7	Reynolds American, Inc.		343
				5,324
		Total Consumer Staples		33,616
		Energy — 10.5%
		Energy Equipment & Services — 1.8%
	10	Baker Hughes, Inc.		464
	6	Cameron International Corp. (a)		318
	2	Diamond Offshore Drilling, Inc.		101
	5	Ensco plc, (United Kingdom), Class A		293
	5	FMC Technologies, Inc. (a)		287
	20	Halliburton Co.		937
	2	Helmerich & Payne, Inc.		152
	7	Nabors Industries Ltd., (Bermuda)		103
	10	National Oilwell Varco, Inc.		717
	6	Noble Corp., (Switzerland)		213
	3	Rowan Cos. plc, Class A (a)		99

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 57

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Energy Equipment & Services — Continued
	30	Schlumberger Ltd.		2,431
				6,115
		Oil, Gas & Consumable Fuels — 8.7%
	11	Anadarko Petroleum Corp.		1,036
	9	Apache Corp.		759
	10	Cabot Oil & Gas Corp.		373
	12	Chesapeake Energy Corp.		303
	44	Chevron Corp.		5,275
	28	ConocoPhillips		1,831
	5	CONSOL Energy, Inc.		161
	8	Denbury Resources, Inc. (a)		146
	9	Devon Energy Corp.		487
	6	EOG Resources, Inc.		965
	3	EQT Corp.		291
	100	Exxon Mobil Corp.		8,755
	7	Hess Corp.		505
	14	Kinder Morgan, Inc.		541
	16	Marathon Oil Corp.		551
	7	Marathon Petroleum Corp.		532
	4	Murphy Oil Corp.		276
	3	Newfield Exploration Co. (a)		73
	8	Noble Energy, Inc.		499
	18	Occidental Petroleum Corp.		1,606
	6	Peabody Energy Corp.		105
	14	Phillips 66		799
	3	Pioneer Natural Resources Co.		540
	4	QEP Resources, Inc.		111
	4	Range Resources Corp.		276
	8	Southwestern Energy Co. (a)		303
	15	Spectra Energy Corp.		501
	3	Tesoro Corp.		141
	12	Valero Energy Corp.		438
	15	Williams Cos., Inc. (The)		559
	5	WPX Energy, Inc. (a)		84
				28,822
		Total Energy		34,937
		Financials — 16.2%
		Capital Markets — 2.1%
	5	Ameriprise Financial, Inc.		392
	26	Bank of New York Mellon Corp. (The)		780
	3	BlackRock, Inc.		734
	25	Charles Schwab Corp. (The)		519
	6	E*TRADE Financial Corp. (a)		91
	9	Franklin Resources, Inc.		432

SHARES		SECURITY DESCRIPTION	VALUE($)
		Capital Markets — Continued
	10	Goldman Sachs Group, Inc. (The)		1,481
	10	Invesco Ltd.		305
	3	Legg Mason, Inc.		82
	31	Morgan Stanley		799
	5	Northern Trust Corp.		270
	10	State Street Corp.		688
	6	T. Rowe Price Group, Inc.		410
				6,983
		Commercial Banks — 2.9%
	16	BB&T Corp.		538
	4	Comerica, Inc.		172
	20	Fifth Third Bancorp		361
	19	Huntington Bancshares, Inc.		156
	21	KeyCorp		243
	3	M&T Bank Corp.		311
	12	PNC Financial Services Group, Inc. (The)		864
	32	Regions Financial Corp.		300
	12	SunTrust Banks, Inc.		390
	42	U.S. Bancorp		1,510
	111	Wells Fargo & Co.		4,571
	4	Zions Bancorp		117
				9,533
		Consumer Finance — 1.0%
	22	American Express Co.		1,553
	13	Capital One Financial Corp.		852
	11	Discover Financial Services		523
	10	SLM Corp.		241
				3,169
		Diversified Financial Services — 3.9%
	244	Bank of America Corp.		3,439
	69	Citigroup, Inc.		3,322
	7	CME Group, Inc.		494
	2	IntercontinentalExchange, Inc. (a)		296
	85	JPMorgan Chase & Co. (q)		4,315
	7	Leucadia National Corp.		166
	6	McGraw Hill Financial, Inc.		361
	4	Moody’s Corp.		278
	3	NASDAQ OMX Group, Inc. (The)		79
	5	NYSE Euronext		230
				12,980
		Insurance — 4.3%
	8	ACE Ltd., (Switzerland)		674
	11	Aflac, Inc.		609

SEE NOTES TO FINANCIAL STATEMENTS.

58 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Insurance — Continued
	11	Allstate Corp. (The)		507
	33	American International Group, Inc. (a)		1,549
	7	Aon plc, (United Kingdom)		464
	2	Assurant, Inc.		92
	41	Berkshire Hathaway, Inc., Class B (a)		4,584
	6	Chubb Corp. (The)		487
	3	Cincinnati Financial Corp.		152
	11	Genworth Financial, Inc., Class A (a)		131
	10	Hartford Financial Services Group, Inc.		305
	6	Lincoln National Corp.		255
	7	Loews Corp.		309
	12	Marsh & McLennan Cos., Inc.		513
	25	MetLife, Inc.		1,143
	6	Principal Financial Group, Inc.		255
	13	Progressive Corp. (The)		314
	11	Prudential Financial, Inc.		788
	2	Torchmark Corp.		144
	9	Travelers Cos., Inc. (The)		679
	6	Unum Group		178
	7	XL Group plc, (Ireland)		193
				14,325
		Real Estate Investment Trusts (REITs) — 1.9%
	9	American Tower Corp.		621
	3	Apartment Investment & Management Co., Class A		91
	3	AvalonBay Communities, Inc.		340
	3	Boston Properties, Inc.		351
	7	Equity Residential		376
	10	HCP, Inc.		418
	6	Health Care REIT, Inc.		395
	17	Host Hotels & Resorts, Inc.		287
	9	Kimco Realty Corp.		185
	3	Macerich Co. (The)		175
	4	Plum Creek Timber Co., Inc.		163
	11	Prologis, Inc.		397
	3	Public Storage		498
	7	Simon Property Group, Inc.		1,023
	7	Ventas, Inc.		412
	4	Vornado Realty Trust		312
	13	Weyerhaeuser Co.		357
				6,401
		Real Estate Management & Development — 0.0% (g)
	7	CBRE Group, Inc., Class A (a)		150
		Thrifts & Mortgage Finance — 0.1%
	11	Hudson City Bancorp, Inc.		99

SHARES		SECURITY DESCRIPTION	VALUE($)
		Thrifts & Mortgage Finance — Continued
	8	People’s United Financial, Inc.		109
				208
		Total Financials		53,749
		Health Care — 12.7%
		Biotechnology — 2.2%
	4	Alexion Pharmaceuticals, Inc. (a)		475
	17	Amgen, Inc.		1,864
	5	Biogen Idec, Inc. (a)		1,143
	9	Celgene Corp. (a)		1,319
	34	Gilead Sciences, Inc. (a)		2,077
	2	Regeneron Pharmaceuticals, Inc. (a)		418
				7,296
		Health Care Equipment & Supplies — 2.0%
	35	Abbott Laboratories		1,174
	12	Baxter International, Inc.		852
	4	Becton, Dickinson & Co.		427
	30	Boston Scientific Corp. (a)		322
	2	C.R. Bard, Inc.		194
	5	CareFusion Corp. (a)		178
	11	Covidien plc, (Ireland)		631
	3	DENTSPLY International, Inc.		136
	3	Edwards Lifesciences Corp. (a)		180
	1	Intuitive Surgical, Inc. (a)		351
	23	Medtronic, Inc.		1,182
	6	St. Jude Medical, Inc.		323
	6	Stryker Corp.		434
	2	Varian Medical Systems, Inc. (a)		173
	4	Zimmer Holdings, Inc.		301
				6,858
		Health Care Providers & Services — 2.1%
	9	Aetna, Inc.		542
	5	AmerisourceBergen Corp.		297
	8	Cardinal Health, Inc.		388
	6	Cigna Corp.		507
	2	DaVita HealthCare Partners, Inc. (a)		206
	18	Express Scripts Holding Co. (a)		1,178
	4	Humana, Inc.		328
	2	Laboratory Corp. of America Holdings (a)		201
	5	McKesson Corp.		658
	2	Patterson Cos., Inc.		75
	4	Quest Diagnostics, Inc.		209
	2	Tenet Healthcare Corp. (a)		91
	23	UnitedHealth Group, Inc.		1,653
	7	WellPoint, Inc.		578
				6,911

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 59

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Health Care Technology — 0.1%
	7	Cerner Corp. (a)		304
		Life Sciences Tools & Services — 0.5%
	8	Agilent Technologies, Inc.		363
	4	Life Technologies Corp. (a)		290
	3	PerkinElmer, Inc.		91
	8	Thermo Fisher Scientific, Inc.		720
	2	Waters Corp. (a)		191
				1,655
		Pharmaceuticals — 5.8%
	36	AbbVie, Inc.		1,525
	3	Actavis, Inc. (a)		390
	7	Allergan, Inc.		592
	37	Bristol-Myers Squibb Co.		1,547
	22	Eli Lilly & Co.		1,151
	5	Forest Laboratories, Inc. (a)		226
	4	Hospira, Inc. (a)		146
	63	Johnson & Johnson		5,483
	68	Merck & Co., Inc.		3,226
	9	Mylan, Inc. (a)		304
	2	Perrigo Co.		243
	151	Pfizer, Inc.		4,253
	11	Zoetis, Inc.		329
				19,415
		Total Health Care		42,439
		Industrials — 10.2%
		Aerospace & Defense — 2.6%
	15	Boeing Co. (The)		1,603
	8	General Dynamics Corp.		624
	18	Honeywell International, Inc.		1,414
	2	L-3 Communications Holdings, Inc.		184
	6	Lockheed Martin Corp.		736
	5	Northrop Grumman Corp.		490
	3	Precision Castparts Corp.		698
	7	Raytheon Co.		553
	3	Rockwell Collins, Inc.		217
	6	Textron, Inc.		169
	19	United Technologies Corp.		1,913
				8,601
		Air Freight & Logistics — 0.7%
	4	C.H. Robinson Worldwide, Inc.		206
	5	Expeditors International of Washington, Inc.		189
	7	FedEx Corp.		715
	16	United Parcel Service, Inc., Class B		1,374
				2,484

SHARES		SECURITY DESCRIPTION	VALUE($)
		Airlines — 0.1%
	16	Southwest Airlines Co.		209
		Building Products — 0.0% (g)
	8	Masco Corp.		153
		Commercial Services & Supplies — 0.5%
	5	ADT Corp. (The) (a)		197
	2	Cintas Corp.		112
	4	Iron Mountain, Inc.		98
	5	Pitney Bowes, Inc.		74
	7	Republic Services, Inc.		218
	2	Stericycle, Inc. (a)		220
	10	Tyco International Ltd., (Switzerland)		346
	10	Waste Management, Inc.		401
				1,666
		Construction & Engineering — 0.2%
	4	Fluor Corp.		233
	3	Jacobs Engineering Group, Inc. (a)		172
	5	Quanta Services, Inc. (a)		126
				531
		Electrical Equipment — 0.7%
	11	Eaton Corp. plc, (Ireland)		677
	16	Emerson Electric Co.		980
	3	Rockwell Automation, Inc.		307
	2	Roper Industries, Inc.		277
				2,241
		Industrial Conglomerates — 2.4%
	14	3M Co.		1,629
	13	Danaher Corp.		861
	234	General Electric Co.		5,406
				7,896
		Machinery — 1.8%
	15	Caterpillar, Inc.		1,226
	4	Cummins, Inc.		491
	9	Deere & Co.		733
	4	Dover Corp.		329
	3	Flowserve Corp.		180
	9	Illinois Tool Works, Inc.		669
	6	Ingersoll-Rand plc, (Ireland)		372
	2	Joy Global, Inc.		118
	8	PACCAR, Inc.		428
	3	Pall Corp.		174
	3	Parker Hannifin Corp.		337
	5	Pentair Ltd., (Switzerland)		278
	1	Snap-on, Inc.		123

SEE NOTES TO FINANCIAL STATEMENTS.

60 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Machinery — Continued
	4	Stanley Black & Decker, Inc.		312
	4	Xylem, Inc.		104
				5,874
		Professional Services — 0.1%
	1	Dun & Bradstreet Corp. (The)		90
	3	Equifax, Inc.		161
	5	Nielsen Holdings N.V.		163
	3	Robert Half International, Inc.		111
				525
		Road & Rail — 0.9%
	23	CSX Corp.		568
	2	Kansas City Southern		263
	7	Norfolk Southern Corp.		514
	1	Ryder System, Inc.		65
	11	Union Pacific Corp.		1,619
				3,029
		Trading Companies & Distributors — 0.2%
	6	Fastenal Co.		269
	1	W.W. Grainger, Inc.		334
				603
		Total Industrials		33,812
		Information Technology — 17.8%
		Communications Equipment — 1.9%
	121	Cisco Systems, Inc.		2,814
	2	F5 Networks, Inc. (a)		149
	2	Harris Corp.		140
	5	JDS Uniphase Corp. (a)		69
	11	Juniper Networks, Inc. (a)		216
	6	Motorola Solutions, Inc.		344
	39	QUALCOMM, Inc.		2,587
				6,319
		Computers & Peripherals — 4.3%
	21	Apple, Inc.		10,329
	33	Dell, Inc.		457
	47	EMC Corp.		1,224
	44	Hewlett-Packard Co.		973
	8	NetApp, Inc.		338
	5	SanDisk Corp.		303
	7	Seagate Technology plc, (Ireland)		276
	5	Western Digital Corp.		298
				14,198

SHARES		SECURITY DESCRIPTION	VALUE($)
		Electronic Equipment, Instruments & Components — 0.4%
	4	Amphenol Corp., Class A		273
	33	Corning, Inc.		468
	3	FLIR Systems, Inc.		100
	4	Jabil Circuit, Inc.		95
	3	Molex, Inc.		91
	9	TE Connectivity Ltd., (Switzerland)		460
				1,487
		Internet Software & Services — 2.2%
	4	Akamai Technologies, Inc. (a)		185
	26	eBay, Inc. (a)		1,319
	6	Google, Inc., Class A (a)		5,141
	3	VeriSign, Inc. (a)		163
	22	Yahoo!, Inc. (a)		584
				7,392
		IT Services — 3.5%
	15	Accenture plc, (Ireland), Class A		1,061
	11	Automatic Data Processing, Inc.		780
	7	Cognizant Technology Solutions Corp., Class A (a)		499
	3	Computer Sciences Corp.		170
	7	Fidelity National Information Services, Inc.		294
	3	Fiserv, Inc. (a)		290
	24	International Business Machines Corp.		4,292
	2	Mastercard, Inc., Class A		1,432
	7	Paychex, Inc.		283
	6	SAIC, Inc.		97
	4	Teradata Corp. (a)		216
	4	Total System Services, Inc.		101
	11	Visa, Inc., Class A		1,997
	13	Western Union Co. (The)		221
				11,733
		Office Electronics — 0.1%
	28	Xerox Corp.		277
		Semiconductors & Semiconductor Equipment — 1.9%
	14	Advanced Micro Devices, Inc. (a)		45
	7	Altera Corp.		254
	7	Analog Devices, Inc.		322
	27	Applied Materials, Inc.		407
	12	Broadcom Corp., Class A		300
	2	First Solar, Inc. (a)		55
	112	Intel Corp.		2,468
	4	KLA-Tencor Corp.		207
	4	Lam Research Corp. (a)		171
	5	Linear Technology Corp.		202

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 61

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands, except number of contracts)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Semiconductors & Semiconductor Equipment — Continued
	12	LSI Corp. (a)		92
	4	Microchip Technology, Inc.		173
	23	Micron Technology, Inc. (a)		316
	13	NVIDIA Corp.		193
	4	Teradyne, Inc. (a)		66
	25	Texas Instruments, Inc.		957
	6	Xilinx, Inc.		259
				6,487
		Software — 3.5%
	11	Adobe Systems, Inc. (a)		519
	5	Autodesk, Inc. (a)		187
	3	BMC Software, Inc. (a)		138
	7	CA, Inc.		219
	4	Citrix Systems, Inc. (a)		299
	7	Electronic Arts, Inc. (a)		182
	6	Intuit, Inc.		401
	170	Microsoft Corp.		5,671
	83	Oracle Corp.		2,645
	4	Red Hat, Inc. (a)		216
	12	Salesforce.com, Inc. (a)		602
	16	Symantec Corp.		403
				11,482
		Total Information Technology		59,375
		Materials — 3.4%
		Chemicals — 2.5%
	5	Air Products & Chemicals, Inc.		481
	1	Airgas, Inc.		151
	1	CF Industries Holdings, Inc.		255
	27	Dow Chemical Co. (The)		1,022
	21	E.I. du Pont de Nemours & Co.		1,177
	4	Eastman Chemical Co.		266
	6	Ecolab, Inc.		550
	3	FMC Corp.		205
	2	International Flavors & Fragrances, Inc.		145
	9	LyondellBasell Industries N.V., (Netherlands), Class A		602
	12	Monsanto Co.		1,181
	6	Mosaic Co. (The)		260
	3	PPG Industries, Inc.		504
	7	Praxair, Inc.		785
	2	Sherwin-Williams Co. (The)		333
	3	Sigma-Aldrich Corp.		224
				8,141

SHARES		SECURITY DESCRIPTION	VALUE($)
		Construction Materials — 0.0% (g)
	3	Vulcan Materials Co.		140
		Containers & Packaging — 0.2%
	2	Avery Dennison Corp.		96
	3	Ball Corp.		149
	2	Bemis Co., Inc.		92
	4	MeadWestvaco Corp.		143
	4	Owens-Illinois, Inc. (a)		106
	4	Sealed Air Corp.		126
				712
		Metals & Mining — 0.5%
	24	Alcoa, Inc.		186
	2	Allegheny Technologies, Inc.		65
	3	Cliffs Natural Resources, Inc.		72
	23	Freeport-McMoRan Copper & Gold, Inc.		709
	11	Newmont Mining Corp.		357
	7	Nucor Corp.		327
	3	United States Steel Corp.		58
				1,774
		Paper & Forest Products — 0.2%
	10	International Paper Co.		475
		Total Materials		11,242
		Telecommunication Services — 2.5%
		Diversified Telecommunication Services — 2.4%
	122	AT&T, Inc.		4,112
	14	CenturyLink, Inc.		456
	23	Frontier Communications Corp.		97
	65	Verizon Communications, Inc.		3,062
	13	Windstream Corp.		108
				7,835
		Wireless Telecommunication Services — 0.1%
	7	Crown Castle International Corp. (a)		460
		Total Telecommunication Services		8,295
		Utilities — 3.2%
		Electric Utilities — 1.8%
	11	American Electric Power Co., Inc.		470
	16	Duke Energy Corp.		1,046
	7	Edison International		338
	4	Entergy Corp.		255
	19	Exelon Corp.		590
	9	FirstEnergy Corp.		354
	10	NextEra Energy, Inc.		771
	7	Northeast Utilities		291
	6	Pepco Holdings, Inc.		106

SEE NOTES TO FINANCIAL STATEMENTS.

62 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — Continued
		Electric Utilities — Continued
	2	Pinnacle West Capital Corp.		135
	14	PPL Corp.		438
	20	Southern Co. (The)		818
	11	Xcel Energy, Inc.		314
				5,926
		Gas Utilities — 0.1%
	3	AGL Resources, Inc.		117
	5	ONEOK, Inc.		240
				357
		Independent Power Producers & Energy Traders — 0.1%
	14	AES Corp. (The)		178
	7	NRG Energy, Inc.		191
				369
		Multi-Utilities — 1.2%
	5	Ameren Corp.		185
	10	CenterPoint Energy, Inc.		222
	6	CMS Energy Corp.		159
	7	Consolidated Edison, Inc.		372
	13	Dominion Resources, Inc.		762
	4	DTE Energy Co.		263
	2	Integrys Energy Group, Inc.		100
	7	NiSource, Inc.		206
	10	PG&E Corp.		413
	11	Public Service Enterprise Group, Inc.		371
	3	SCANA Corp.		152
	5	Sempra Energy		430
	5	TECO Energy, Inc.		76

SHARES		SECURITY DESCRIPTION	VALUE($)
		Multi-Utilities — Continued
	5	Wisconsin Energy Corp.		212
				3,923
		Total Utilities		10,575
		Total Common Stocks (Cost $192,411)		328,281
	Exchange Traded Fund — 0.2%
	3	SPDR S&P 500 ETF Trust (Cost $352)		458
PRINCIPAL AMOUNT($)
	Short-Term Investments — 1.0%
		U.S. Treasury Obligation — 0.1%
	325	U.S. Treasury Bill, 0.042%, 09/12/13 (k) (n) (Cost $325)		325
SHARES
		Investment Company — 0.9%
	3,083	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.030% (b) (l) (m) (Cost $3,083)		3,083
		Total Short-Term Investments (Cost $3,408)		3,408
		Total Investments — 99.9% (Cost $196,171)		332,147
		Other Assets in Excess of Liabilities — 0.1%		392
		NET ASSETS — 100.0%	$	332,539

Percentages indicated are based on net assets.

Futures Contracts
NUMBER OF CONTRACTS		DESCRIPTION	EXPIRATION DATE		NOTIONAL VALUE AT 08/31/13		NET UNREALIZED APPRECIATION (DEPRECIATION)
		Long Futures Outstanding
	38	E-mini S&P 500		09/20/13	$	3,099	$	42

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 63

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — 3.8%
	134	Academic Loan Funding Trust, Series 2012-1A, Class A1, VAR, 0.984%, 12/27/22 (e)		135
		Ally Auto Receivables Trust,
	119	Series 2012-1, Class A3, 0.930%, 02/16/16		119
	377	Series 2012-2, Class A3, 0.740%, 04/15/16		377
	127	Series 2012-4, Class A2, 0.480%, 05/15/15		127
	159	Series 2012-5, Class A2, 0.450%, 07/15/15		159
		American Credit Acceptance Receivables Trust,
	37	Series 2012-1, Class A2, 3.040%, 10/15/15 (e)		37
	140	Series 2012-2, Class A, 1.890%, 07/15/16 (e)		141
	54	Series 2012-3, Class A, 1.640%, 11/15/16 (e)		54
	225	Series 2013-2, Class A, 1.320%, 02/15/17 (e)		225
		AmeriCredit Automobile Receivables Trust,
	219	Series 2011-5, Class A3, 1.550%, 07/08/16		220
	46	Series 2012-1, Class A2, 0.910%, 10/08/15		46
	94	Series 2012-1, Class A3, 1.230%, 09/08/16		95
	45	Series 2012-4, Class A2, 0.490%, 04/08/16		45
	186	Series 2013-1, Class A2, 0.490%, 06/08/16		186
	53	Series 2013-1, Class A3, 0.610%, 10/10/17		53
	489	Series 2013-4, Class A2, 0.740%, 11/08/16		489
	56	Bank of America Auto Trust, Series 2010-2, Class A4, 1.940%, 06/15/17		56
	52	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.554%, 04/25/36		49
		BMW Vehicle Lease Trust,
	146	Series 2013-1, Class A2, 0.400%, 01/20/15		146
	48	Series 2013-1, Class A3, 0.540%, 09/21/15		48
	100	Cabela’s Master Credit Card Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		100
	108	California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		108
		Capital Auto Receivables Asset Trust,
	247	Series 2013-1, Class A2, 0.620%, 07/20/16		247
	250	Series 2013-3, Class A1B, VAR, 0.614%, 11/20/15		250
	156	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		163
		CNH Equipment Trust,
	15	Series 2010-C, Class A3, 1.170%, 05/15/15		15
	92	Series 2012-A, Class A3, 0.940%, 05/15/17		92
	96	Series 2012-C, Class A2, 0.440%, 02/16/16		96
		Concord Funding Co. LLC,
	300	Series 2012-2, Class A, 3.145%, 01/15/17 (e)		300

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	100	Series 2013-1, Class A, 2.420%, 02/15/15 (e)		97
		CPS Auto Receivables Trust,
	51	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		53
	45	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		45
	272	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		275
	204	Discover Card Execution Note Trust, Series 2012-A1, Class A1, 0.810%, 08/15/17		205
	49	DT Auto Owner Trust, Series 2012-2A, Class A, 0.910%, 11/16/15 (e)		49
	175	Fifth Third Auto Trust, Series 2013-1, Class A3, 0.880%, 10/16/17		175
		First Investors Auto Owner Trust,
	70	Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		70
	90	Series 2013-1A, Class A2, 0.900%, 10/15/18 (e)		90
		Ford Credit Auto Owner Trust,
	151	Series 2012-A, Class A3, 0.840%, 08/15/16		151
	64	Series 2012-D, Class A2, 0.400%, 09/15/15		64
	100	Series 2012-D, Class A3, 0.510%, 04/15/17		100
	140	Ford Credit Floorplan Master Owner Trust, Series 2013-1, Class A2, VAR, 0.564%, 01/15/18		140
	75	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		73
		GE Equipment Midticket LLC,
	200	Series 2012-1, Class A3, 0.600%, 05/23/16		199
	60	Series 2012-1, Class A4, 0.780%, 09/22/20		60
	49	GE Equipment Transportation LLC, Series 2012-2, Class A2, 0.470%, 04/24/15		49
		HLSS Servicer Advance Receivables Backed Notes,
	232	Series 2012-T2, Class A1, 1.340%, 10/15/43 (e)		232
	244	Series 2012-T2, Class A2, 1.990%, 10/15/45 (e)		245
	193	Series 2013-T1, Class A1, 0.898%, 01/15/44 (e)		193
	165	Series 2013-T1, Class A2, 1.495%, 01/16/46 (e)		164
		Honda Auto Receivables Owner Trust,
	108	Series 2012-1, Class A3, 0.770%, 01/15/16		108
	56	Series 2012-1, Class A4, 0.970%, 04/16/18		56
	114	Series 2013-1, Class A2, 0.350%, 06/22/15		114
	62	HSBC Home Equity Loan Trust, Series 2005-2, Class A1, VAR, 0.454%, 01/20/35		61

SEE NOTES TO FINANCIAL STATEMENTS.

64 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — Continued
		HSBC Home Equity Loan Trust USA,
	47	Series 2006-1, Class A1, VAR, 0.344%, 01/20/36		45
	52	Series 2007-3, Class APT, VAR, 1.384%, 11/20/36		52
		Huntington Auto Trust,
	96	Series 2011-1A, Class A3, 1.010%, 01/15/16 (e)		96
	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
	136	Series 2012-2, Class A2, 0.380%, 09/15/15		136
		Hyundai Auto Receivables Trust,
	15	Series 2010-B, Class A3, 0.970%, 04/15/15		15
	86	Series 2012-A, Class A3, 0.720%, 03/15/16		86
	88	Series 2012-B, Class A2, 0.540%, 01/15/15		88
	119	Series 2012-B, Class A3, 0.620%, 09/15/16		120
	52	John Deere Owner Trust, Series 2012-B, Class A2, 0.430%, 02/17/15		52
	11	LAI Vehicle Lease Securitization Trust, Series 2010-A, Class A, 2.550%, 09/15/16 (e) (i)		11
	200	Macquarie Equipment Funding Trust, Series 2012-A, Class A2, 0.610%, 04/20/15 (e)		199
	50	Mercedes-Benz Auto Receivables Trust, Series 2012-1, Class A2, 0.370%, 03/16/15		50
	325	MMCA Auto Owner Trust, Series 2012-A, Class A4, 1.570%, 08/15/17 (e)		327
	135	Nationstar Agency Advance Funding Trust, Series 2013-T1A, Class AT1, 0.997%, 02/15/45 (e)		134
	200	Nationstar Mortgage Advance Receivable Trust, Series 2013-T2A, Class A2, 1.679%, 06/20/46 (e)		200
	79	Nissan Auto Lease Trust, Series 2012-B, Class A2A, 0.450%, 06/15/15		79
		Nissan Auto Receivables Owner Trust,
	74	Series 2010-A, Class A4, 1.310%, 09/15/16		74
	117	Series 2012-A, Class A4, 1.000%, 07/16/18		117
	207	Series 2013-A, Class A2, 0.370%, 09/15/15		207
	505	Normandy Mortgage Loan Trust, Series 2013-NPL3, Class A, 4.949%, 09/16/43 (e)		505
	233	Park Place Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-MCW1, Class M1, VAR, 1.122%, 10/25/34		229
	148	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.484%, 03/25/36		138

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	147	Residential Credit Solutions Trust, Series 2011-1, Class A1, 6.000%, 03/25/41 (e) (i)		147
		Resort Finance Timeshare Receivables Trust,
	35	Series 2012-1, Class A1, SUB, 6.250%, 07/05/18 (i)		36
	370	Series 2012-2, 5.750%, 09/05/18 (i)		370
		Santander Drive Auto Receivables Trust,
	100	Series 2010-A, Class A4, 2.390%, 06/15/17 (e)		101
	100	Series 2011-1, Class B, 2.350%, 11/16/15		101
	14	Series 2011-S2A, Class B, 2.060%, 06/15/17 (e)		14
	27	Series 2012-1, Class A2, 1.250%, 04/15/15		27
	17	Series 2012-2, Class A2, 0.910%, 05/15/15		17
	53	Series 2012-2, Class A3, 1.220%, 12/15/15		53
	30	Series 2012-5, Class A2, 0.570%, 12/15/15		30
	60	Series 2012-5, Class A3, 0.830%, 12/15/16		60
	56	Series 2012-6, Class A3, 0.620%, 07/15/16		56
	43	Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.846%, 01/25/36		27
		SNAAC Auto Receivables Trust,
	21	Series 2012-1A, Class A, 1.780%, 06/15/16 (e)		20
	54	Series 2013-1A, Class A, 1.140%, 07/16/18 (e)		54
	950	Springleaf Funding Trust, Series 2013-AA, Class A, 2.580%, 09/15/21 (e)		941
		Stanwich Mortgage Loan Co. LLC,
	129	Series 2012-NPL4, Class A, 2.981%, 09/15/42 (e)		129
	204	Series 2012-NPL5, Class A, 2.981%, 10/16/42 (e)		205
	358	Stanwich Mortgage Loan Trust, Series 2013-NPL1, Class A, 2.981%, 02/16/43 (e)		359
	321	Trafigura Securitisation Finance plc, (Ireland), Series 2012-1A, Class A, VAR, 2.584%, 10/15/15 (e)		326
	22	USAA Auto Owner Trust, Series 2012-1, Class A2, 0.380%, 06/15/15		22
	213	Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Class A3, 0.850%, 08/22/16		214
	24	VOLT LLC, Series 2012-RP3A, Class A1, SUB, 3.475%, 11/27/17 (e)		24
	169	Westgate Resorts LLC, Series 2012-1, Class A, 4.500%, 09/20/25 (e)		172
		World Omni Auto Receivables Trust,
	53	Series 2010-A, Class A4, 2.210%, 05/15/15		53
	76	Series 2012-A, Class A2, 0.520%, 06/15/15		76

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 65

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — Continued
	102		Series 2012-A, Class A3, 0.640%, 02/15/17		102
	104		Series 2012-B, Class A2, 0.430%, 11/16/15		104
			Total Asset-Backed Securities (Cost $14,217)		14,263
	Collateralized Mortgage Obligations — 22.4%
			Agency CMO — 18.0%
	57		Federal Home Loan Mortgage Corp. - Government National Mortgage Association, Series 24, Class ZE, 6.250%, 11/25/23		63
			Federal Home Loan Mortgage Corp. REMIC,
	3		Series 11, Class D, 9.500%, 07/15/19		4
	—	(h)	Series 41, Class I, HB, 84.000%, 05/15/20		—	(h)
	2		Series 46, Class B, 7.800%, 09/15/20		2
	1		Series 47, Class F, 10.000%, 06/15/20		1
	—	(h)	Series 85, Class C, 8.600%, 01/15/21		—	(h)
	2		Series 99, Class Z, 9.500%, 01/15/21		2
	12		Series 114, Class H, 6.950%, 01/15/21		14
	1		Series 1079, Class S, HB, IF, 33.374%, 05/15/21		1
	1		Series 1084, Class F, VAR, 1.134%, 05/15/21		1
	—	(h)	Series 1084, Class S, HB, IF, 44.397%, 05/15/21		1
	9		Series 1144, Class KB, 8.500%, 09/15/21		10
	—	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	—	(h)	Series 1196, Class B, HB, IF, 1,177.174%, 01/15/22		1
	8		Series 1206, Class IA, 7.000%, 03/15/22		9
	5		Series 1250, Class J, 7.000%, 05/15/22		6
	18		Series 1343, Class LA, 8.000%, 08/15/22		22
	80		Series 1466, Class PZ, 7.500%, 02/15/23		90
	1		Series 1470, Class F, VAR, 1.954%, 02/15/23		1
	29		Series 1491, Class I, 7.500%, 04/15/23		32
	29		Series 1518, Class G, IF, 8.859%, 05/15/23		35
	26		Series 1541, Class O, VAR, 1.940%, 07/15/23		27
	3		Series 1602, Class SA, HB, IF, 22.152%, 10/15/23		5
	92		Series 1608, Class L, 6.500%, 09/15/23		101
	37		Series 1609, Class LG, IF, 16.935%, 11/15/23		40
	4		Series 1671, Class L, 7.000%, 02/15/24		4
	16		Series 1700, Class GA, PO, 02/15/24		15
	165		Series 1706, Class K, 7.000%, 03/15/24		187
	538		Series 1720, Class PL, 7.500%, 04/15/24		619
	13		Series 1745, Class D, 7.500%, 08/15/24		15
	32		Series 1798, Class F, 5.000%, 05/15/23		35

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	2	Series 1807, Class G, 9.000%, 10/15/20		2
	156	Series 1927, Class PH, 7.500%, 01/15/27		180
	65	Series 1981, Class Z, 6.000%, 05/15/27		73
	21	Series 1987, Class PE, 7.500%, 09/15/27		23
	10	Series 2033, Class SN, HB, IF, 27.146%, 03/15/24		7
	26	Series 2038, Class PN, IO, 7.000%, 03/15/28		4
	132	Series 2040, Class PE, 7.500%, 03/15/28		152
	28	Series 2056, Class TD, 6.500%, 05/15/18		31
	152	Series 2063, Class PG, 6.500%, 06/15/28		170
	26	Series 2064, Class TE, 7.000%, 06/15/28		30
	107	Series 2075, Class PH, 6.500%, 08/15/28		120
	104	Series 2075, Class PM, 6.250%, 08/15/28		105
	32	Series 2089, Class PJ, IO, 7.000%, 10/15/28		5
	1	Series 2102, Class TC, 6.000%, 12/15/13		1
	6	Series 2115, Class PE, 6.000%, 01/15/14		6
	68	Series 2125, Class JZ, 6.000%, 02/15/29		75
	14	Series 2163, Class PC, IO, 7.500%, 06/15/29		2
	313	Series 2169, Class TB, 7.000%, 06/15/29		359
	88	Series 2172, Class QC, 7.000%, 07/15/29		99
	1	Series 2196, Class TL, 7.500%, 11/15/29		1
	48	Series 2201, Class C, 8.000%, 11/15/29		56
	111	Series 2210, Class Z, 8.000%, 01/15/30		129
	44	Series 2224, Class CB, 8.000%, 03/15/30		52
	61	Series 2256, Class MC, 7.250%, 09/15/30		70
	77	Series 2259, Class ZM, 7.000%, 10/15/30		89
	69	Series 2271, Class PC, 7.250%, 12/15/30		79
	76	Series 2283, Class K, 6.500%, 12/15/23		84
	30	Series 2296, Class PD, 7.000%, 03/15/31		35
	17	Series 2306, Class K, PO, 05/15/24		16
	41	Series 2306, Class SE, IF, IO, 8.060%, 05/15/24		8
	31	Series 2333, Class HC, 6.000%, 07/15/31		30
	20	Series 2344, Class QG, 6.000%, 08/15/16		21
	633	Series 2344, Class ZD, 6.500%, 08/15/31		682
	84	Series 2344, Class ZJ, 6.500%, 08/15/31		94
	57	Series 2345, Class NE, 6.500%, 08/15/31		64
	37	Series 2345, Class PQ, 6.500%, 08/15/16		39
	45	Series 2347, Class VP, 6.500%, 03/15/20		45
	86	Series 2351, Class PZ, 6.500%, 08/15/31		97
	28	Series 2355, Class BP, 6.000%, 09/15/16		29
	28	Series 2360, Class PG, 6.000%, 09/15/16		29
	24	Series 2366, Class MD, 6.000%, 10/15/16		26
	40	Series 2391, Class QR, 5.500%, 12/15/16		42
	55	Series 2410, Class NG, 6.500%, 02/15/32		60
	83	Series 2410, Class OE, 6.375%, 02/15/32		90

SEE NOTES TO FINANCIAL STATEMENTS.

66 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	34		Series 2410, Class QX, IF, IO, 8.466%, 02/15/32		8
	132		Series 2412, Class SP, IF, 15.732%, 02/15/32		175
	39		Series 2423, Class MC, 7.000%, 03/15/32		44
	81		Series 2423, Class MT, 7.000%, 03/15/32		93
	243		Series 2435, Class CJ, 6.500%, 04/15/32		265
	95		Series 2441, Class GF, 6.500%, 04/15/32		107
	89		Series 2444, Class ES, IF, IO, 7.766%, 03/15/32		19
	110		Series 2450, Class GZ, 7.000%, 05/15/32		125
	36		Series 2450, Class SW, IF, IO, 7.816%, 03/15/32		7
	147		Series 2455, Class GK, 6.500%, 05/15/32		166
	195		Series 2466, Class DH, 6.500%, 06/15/32		220
	37		Series 2466, Class PG, 6.500%, 04/15/32		38
	107		Series 2474, Class NR, 6.500%, 07/15/32		121
	199		Series 2484, Class LZ, 6.500%, 07/15/32		223
	251		Series 2500, Class MC, 6.000%, 09/15/32		277
	356		Series 2512, Class PG, 5.500%, 10/15/22		392
	65		Series 2535, Class BK, 5.500%, 12/15/22		72
	116		Series 2537, Class TE, 5.500%, 12/15/17		124
	413		Series 2543, Class YX, 6.000%, 12/15/32		460
	540		Series 2568, Class KG, 5.500%, 02/15/23		589
	681		Series 2575, Class ME, 6.000%, 02/15/33		759
	57		Series 2586, Class WI, IO, 6.500%, 03/15/33		12
	—	(h)	Series 2597, Class DS, IF, IO, 7.366%, 02/15/33		—	(h)
	169		Series 2617, Class GR, 4.500%, 05/15/18		178
	118		Series 2622, Class PE, 4.500%, 05/15/18		126
	74		Series 2631, Class LC, 4.500%, 06/15/18		78
	114		Series 2651, Class VZ, 4.500%, 07/15/18		121
	71		Series 2672, Class ME, 5.000%, 11/15/22		73
	237		Series 2675, Class CK, 4.000%, 09/15/18		250
	309		Series 2684, Class PO, PO, 01/15/33		302
	135		Series 2744, Class TU, 5.500%, 05/15/32		143
	7		Series 2755, Class SA, IF, 13.832%, 05/15/30		8
	129		Series 2777, Class KO, PO, 02/15/33		128
	712		Series 2907, Class VC, 4.500%, 05/15/34		732
	151		Series 2934, Class EC, PO, 02/15/20		147
	165		Series 2990, Class SL, HB, IF, 23.818%, 06/15/34		245
	1,214		Series 2990, Class U2, 5.750%, 06/15/35		1,343
	434		Series 2999, Class ND, 4.500%, 07/15/20		464
	103		Series 3068, Class AO, PO, 01/15/35		102
	205		Series 3117, Class EO, PO, 02/15/36		191
	22		Series 3117, Class OK, PO, 02/15/36		20

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	333	Series 3122, Class OH, PO, 03/15/36		309
	296	Series 3137, Class XP, 6.000%, 04/15/36		329
	7	Series 3149, Class SO, PO, 05/15/36		5
	401	Series 3152, Class MO, PO, 03/15/36		369
	179	Series 3171, Class MO, PO, 06/15/36		169
	96	Series 3179, Class OA, PO, 07/15/36		88
	652	Series 3202, Class HI, IF, IO, 6.466%, 08/15/36		115
	122	Series 3232, Class ST, IF, IO, 6.516%, 10/15/36		20
	140	Series 3253, Class PO, PO, 12/15/21		138
	79	Series 3316, Class JO, PO, 05/15/37		73
	349	Series 3481, Class SJ, IF, IO, 5.666%, 08/15/38		36
	173	Series 3607, Class AO, PO, 04/15/36		157
	86	Series 3607, Class EO, PO, 02/15/33		84
	103	Series 3611, Class PO, PO, 07/15/34		95
	791	Series 3666, Class VA, 5.500%, 12/15/22		814
	735	Series 3680, Class MA, 4.500%, 07/15/39		797
	422	Series 3804, Class FN, VAR, 0.634%, 03/15/39		422
	1,046	Series 3819, Class ZQ, 6.000%, 04/15/36		1,138
	397	Series 3997, Class PF, VAR, 0.634%, 11/15/39		398
	993	Series 4219, Class JA, 3.500%, 08/15/39		1,024
		Federal Home Loan Mortgage Corp. STRIPS,
	63	Series 243, Class 16, IO, 4.500%, 11/15/20		5
	955	Series 262, Class 35, 3.500%, 07/15/42		961
	949	Series 267, Class F5, VAR, 0.684%, 08/15/42		942
	965	Series 274, Class F1, VAR, 0.684%, 08/15/42		973
	958	Series 279, Class F6, VAR, 0.634%, 09/15/42		964
		Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	47	Series T-41, Class 3A, VAR, 6.706%, 07/25/32		54
	38	Series T-51, Class 2A, VAR, 7.500%, 08/25/42		45
	388	Series T-54, Class 2A, 6.500%, 02/25/43		463
	133	Series T-54, Class 3A, 7.000%, 02/25/43		157
	1,005	Series T-56, Class A5, 5.231%, 05/25/43		1,080
	35	Series T-58, Class APO, PO, 09/25/43		28
	271	Series T-76, Class 2A, VAR, 3.851%, 10/25/37		271

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 67

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
			Federal National Mortgage Association - ACES,
	500		Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		542
	1,000		Series 2012-M9, Class A2, 2.482%, 04/25/22		933
	992		Series 2012-M11, Class FA, VAR, 0.716%, 08/25/19		990
	116		Federal National Mortgage Association Grantor Trust, Series 2001-T10, Class A2, 7.500%, 12/25/41		134
			Federal National Mortgage Association REMIC Trust,
	175		Series 2003-W1, Class 1A1, VAR, 6.020%, 12/25/42		201
	45		Series 2003-W4, Class 2A, VAR, 6.423%, 10/25/42		48
	60		Series 2007-W7, Class 1A4, HB, IF, 38.076%, 07/25/37		103
			Federal National Mortgage Association REMIC,
	2		Series 1988-7, Class Z, 9.250%, 04/25/18		2
	7		Series 1989-70, Class G, 8.000%, 10/25/19		8
	3		Series 1989-78, Class H, 9.400%, 11/25/19		4
	3		Series 1989-83, Class H, 8.500%, 11/25/19		3
	2		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		1
	2		Series 1990-63, Class H, 9.500%, 06/25/20		2
	1		Series 1990-93, Class G, 5.500%, 08/25/20		1
	—	(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		—	(h)
	9		Series 1990-102, Class J, 6.500%, 08/25/20		10
	3		Series 1990-120, Class H, 9.000%, 10/25/20		4
	1		Series 1990-134, Class SC, HB, IF, 21.324%, 11/25/20		1
	—	(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)
	3		Series 1991-42, Class S, IF, 17.353%, 05/25/21		4
	53		Series 1992-107, Class SB, HB, IF, 29.523%, 06/25/22		93
	4		Series 1992-143, Class MA, 5.500%, 09/25/22		5

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	29	Series 1993-25, Class J, 7.500%, 03/25/23		33
	171	Series 1993-37, Class PX, 7.000%, 03/25/23		192
	60	Series 1993-54, Class Z, 7.000%, 04/25/23		68
	13	Series 1993-62, Class SA, IF, 18.307%, 04/25/23		19
	16	Series 1993-122, Class M, 6.500%, 07/25/23		17
	6	Series 1993-165, Class SD, IF, 12.833%, 09/25/23		8
	27	Series 1993-178, Class PK, 6.500%, 09/25/23		29
	446	Series 1993-183, Class KA, 6.500%, 10/25/23		493
	195	Series 1993-189, Class PL, 6.500%, 10/25/23		221
	2	Series 1993-225, Class SG, HB, IF, 26.743%, 12/25/13		2
	42	Series 1993-247, Class SA, HB, IF, 26.786%, 12/25/23		73
	54	Series 1993-250, Class Z, 7.000%, 12/25/23		56
	3	Series 1994-9, Class E, PO, 11/25/23		3
	111	Series 1996-14, Class SE, IF, IO, 8.180%, 08/25/23		20
	5	Series 1996-27, Class FC, VAR, 0.684%, 03/25/17		5
	12	Series 1996-59, Class J, 6.500%, 08/25/22		14
	61	Series 1997-20, Class IB, IO, VAR, 1.840%, 03/25/27		3
	58	Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		3
	29	Series 1997-27, Class J, 7.500%, 04/18/27		32
	33	Series 1997-29, Class J, 7.500%, 04/20/27		39
	68	Series 1997-39, Class PD, 7.500%, 05/20/27		79
	22	Series 1997-81, Class PI, IO, 7.000%, 12/18/27		3
	2	Series 1998-4, Class C, PO, 04/25/23		2
	24	Series 1998-36, Class ZB, 6.000%, 07/18/28		27
	257	Series 1998-43, Class EA, PO, 04/25/23		241
	150	Series 2000-2, Class ZE, 7.500%, 02/25/30		172
	53	Series 2001-4, Class PC, 7.000%, 03/25/21		60
	1	Series 2001-5, Class OW, 6.000%, 03/25/16		1
	105	Series 2001-33, Class ID, IO, 6.000%, 07/25/31		23
	122	Series 2001-36, Class DE, 7.000%, 08/25/31		141
	30	Series 2001-44, Class PD, 7.000%, 09/25/31		33
	207	Series 2001-48, Class Z, 6.500%, 09/25/21		231
	27	Series 2001-49, Class Z, 6.500%, 09/25/31		30

SEE NOTES TO FINANCIAL STATEMENTS.

68 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	57	Series 2001-71, Class MB, 6.000%, 12/25/16		60
	69	Series 2001-71, Class QE, 6.000%, 12/25/16		73
	418	Series 2001-74, Class MB, 6.000%, 12/25/16		443
	21	Series 2001-81, Class LO, PO, 01/25/32		19
	61	Series 2002-1, Class HC, 6.500%, 02/25/22		67
	27	Series 2002-1, Class SA, HB, IF, 24.589%, 02/25/32		48
	34	Series 2002-2, Class UC, 6.000%, 02/25/17		36
	66	Series 2002-3, Class OG, 6.000%, 02/25/17		70
	74	Series 2002-21, Class PE, 6.500%, 04/25/32		81
	125	Series 2002-24, Class AJ, 6.000%, 04/25/17		134
	76	Series 2002-28, Class PK, 6.500%, 05/25/32		86
	85	Series 2002-37, Class Z, 6.500%, 06/25/32		95
	169	Series 2002-94, Class BK, 5.500%, 01/25/18		179
	202	Series 2003-22, Class UD, 4.000%, 04/25/33		210
	162	Series 2003-34, Class GB, 6.000%, 03/25/33		181
	304	Series 2003-34, Class GE, 6.000%, 05/25/33		344
	17	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		3
	314	Series 2003-47, Class PE, 5.750%, 06/25/33		341
	42	Series 2003-52, Class SX, HB, IF, 22.398%, 10/25/31		72
	39	Series 2003-64, Class SX, IF, 13.282%, 07/25/33		46
	139	Series 2003-71, Class DS, IF, 7.217%, 08/25/33		139
	158	Series 2003-80, Class SY, IF, IO, 7.466%, 06/25/23		16
	149	Series 2003-83, Class PG, 5.000%, 06/25/23		160
	30	Series 2003-91, Class SD, IF, 12.193%, 09/25/33		36
	260	Series 2003-116, Class SB, IF, IO, 7.416%, 11/25/33		53
	2	Series 2003-128, Class KE, 4.500%, 01/25/14		2
	316	Series 2003-128, Class NG, 4.000%, 01/25/19		335
	35	Series 2003-130, Class SX, IF, 11.244%, 01/25/34		43
	760	Series 2004-21, Class AE, 4.000%, 04/25/19		805
	321	Series 2004-25, Class PC, 5.500%, 01/25/34		346
	185	Series 2004-25, Class SA, IF, 19.019%, 04/25/34		267
	214	Series 2004-36, Class PC, 5.500%, 02/25/34		231

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	163	Series 2004-36, Class SA, IF, 19.019%, 05/25/34		237
	110	Series 2004-46, Class SK, IF, 15.994%, 05/25/34		146
	827	Series 2004-50, Class VZ, 5.500%, 07/25/34		907
	90	Series 2004-61, Class SH, HB, IF, 23.252%, 11/25/32		144
	86	Series 2004-74, Class SW, IF, 15.132%, 11/25/31		117
	140	Series 2004-76, Class CL, 4.000%, 10/25/19		146
	157	Series 2005-45, Class DC, HB, IF, 23.635%, 06/25/35		235
	52	Series 2005-52, Class PA, 6.500%, 06/25/35		56
	130	Series 2005-56, Class S, IF, IO, 6.526%, 07/25/35		25
	248	Series 2005-56, Class TP, IF, 17.598%, 08/25/33		342
	790	Series 2005-68, Class PG, 5.500%, 08/25/35		874
	307	Series 2005-73, Class PS, IF, 16.240%, 08/25/35		411
	143	Series 2005-74, Class CS, IF, 19.514%, 05/25/35		206
	277	Series 2005-106, Class US, HB, IF, 23.892%, 11/25/35		431
	965	Series 2005-121, Class DX, 5.500%, 01/25/26		1,062
	325	Series 2006-27, Class OH, PO, 04/25/36		305
	95	Series 2006-44, Class P, PO, 12/25/33		88
	586	Series 2006-56, Class FC, VAR, 0.474%, 07/25/36		587
	180	Series 2006-59, Class QO, PO, 01/25/33		177
	102	Series 2006-65, Class QO, PO, 07/25/36		94
	149	Series 2006-72, Class GO, PO, 08/25/36		143
	312	Series 2006-77, Class PC, 6.500%, 08/25/36		351
	121	Series 2006-79, Class DO, PO, 08/25/36		112
	221	Series 2006-110, Class PO, PO, 11/25/36		203
	545	Series 2006-124, Class HB, VAR, 5.976%, 11/25/36		568
	180	Series 2007-14, Class ES, IF, IO, 6.256%, 03/25/37		24
	126	Series 2007-79, Class SB, HB, IF, 23.342%, 08/25/37		189
	500	Series 2007-81, Class GE, 6.000%, 08/25/37		558
	312	Series 2007-88, Class VI, IF, IO, 6.356%, 09/25/37		45
	774	Series 2007-91, Class ES, IF, IO, 6.276%, 10/25/37		108

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 69

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	180		Series 2007-106, Class A7, VAR, 6.002%, 10/25/37		200
	171		Series 2007-116, Class HI, IO, VAR, 1.590%, 01/25/38		12
	107		Series 2008-10, Class XI, IF, IO, 6.046%, 03/25/38		13
	87		Series 2008-16, Class IS, IF, IO, 6.016%, 03/25/38		12
	145		Series 2008-28, Class QS, HB,IF, 20.148%, 04/25/38		205
	140		Series 2008-46, Class HI, IO, VAR, 1.768%, 06/25/38		12
	173		Series 2009-69, Class PO, PO, 09/25/39		159
	758		Series 2009-71, Class BC, 4.500%, 09/25/24		819
	286		Series 2009-103, Class MB, VAR, 2.847%, 12/25/39		304
	553		Series 2010-71, Class HJ, 5.500%, 07/25/40		623
	1,040		Series 2010-133, Class A, 5.500%, 05/25/38		1,123
	684		Series 2011-118, Class MT, 7.000%, 11/25/41		798
	661		Series 2011-118, Class NT, 7.000%, 11/25/41		763
	841		Series 2011-149, Class EF, VAR, 0.684%, 07/25/41		847
	397		Series 2012-47, Class HF, VAR, 0.584%, 05/25/27		400
	478		Series 2012-108, Class F, VAR, 0.684%, 10/25/42		477
	968		Series 2012-112, Class FD, VAR, 0.684%, 10/25/42		968
	3		Series G-14, Class L, 8.500%, 06/25/21		3
	13		Series G-18, Class Z, 8.750%, 06/25/21		15
	2		Series G-22, Class G, 6.000%, 12/25/16		3
	11		Series G-35, Class M, 8.750%, 10/25/21		13
	44		Series G92-35, Class E, 7.500%, 07/25/22		49
	3		Series G92-42, Class Z, 7.000%, 07/25/22		3
	37		Series G92-44, Class ZQ, 8.000%, 07/25/22		41
	42		Series G92-54, Class ZQ, 7.500%, 09/25/22		47
	10		Series G93-5, Class Z, 6.500%, 02/25/23		11
	14		Series G95-1, Class C, 8.800%, 01/25/25		16
			Federal National Mortgage Association STRIPS,
	—	(h)	Series 50, Class 2, IO, 10.500%, 03/01/19		—	(h)
	3		Series 218, Class 2, IO, 7.500%, 04/01/23		—	(h)
	117		Series 300, Class 1, PO, 09/01/24		110
	21		Series 329, Class 1, PO, 01/01/33		19
			Federal National Mortgage Association Trust,
	106		Series 2004-W2, Class 2A2, 7.000%, 02/25/44		123

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	331	Series 2005-W3, Class 2AF, VAR, 0.404%, 03/25/45		330
		Government National Mortgage Association,
	229	Series 1994-7, Class PQ, 6.500%, 10/16/24		264
	15	Series 1995-7, Class CQ, 7.500%, 09/16/25		17
	24	Series 1998-26, Class K, 7.500%, 09/17/25		27
	331	Series 1999-10, Class ZC, 6.500%, 04/20/29		373
	24	Series 1999-30, Class S, IF, IO, 8.416%, 08/16/29		6
	36	Series 1999-41, Class Z, 8.000%, 11/16/29		42
	32	Series 1999-44, Class PC, 7.500%, 12/20/29		37
	14	Series 2000-9, Class Z, 8.000%, 06/20/30		17
	300	Series 2000-9, Class ZJ, 8.500%, 02/16/30		360
	30	Series 2000-16, Class ZN, 7.500%, 02/16/30		31
	87	Series 2001-7, Class PK, 6.500%, 03/20/31		98
	6	Series 2001-32, Class WA, IF, 19.665%, 07/20/31		9
	198	Series 2001-64, Class MQ, 6.500%, 12/20/31		229
	33	Series 2002-7, Class PG, 6.500%, 01/20/32		38
	46	Series 2002-31, Class S, IF, IO, 8.516%, 01/16/31		13
	125	Series 2002-40, Class UK, 6.500%, 06/20/32		142
	118	Series 2002-47, Class PG, 6.500%, 07/16/32		135
	154	Series 2002-47, Class PY, 6.000%, 07/20/32		173
	146	Series 2002-47, Class ZA, 6.500%, 07/20/32		167
	12	Series 2002-51, Class SG, HB, IF, 31.702%, 04/20/31		24
	25	Series 2003-24, Class PO, PO, 03/16/33		22
	304	Series 2003-40, Class TJ, 6.500%, 03/20/33		353
	123	Series 2003-52, Class AP, PO, 06/16/33		111
	29	Series 2004-28, Class S, IF, 19.156%, 04/16/34		43
	20	Series 2004-68, Class PO, PO, 05/20/31		20
	83	Series 2004-71, Class SB, HB, IF, 28.560%, 09/20/34		140
	51	Series 2004-73, Class AE, IF, 14.475%, 08/17/34		64
	441	Series 2004-90, Class SI, IF, IO, 5.916%, 10/20/34		51
	139	Series 2005-68, Class DP, IF, 15.990%, 06/17/35		182
	881	Series 2005-68, Class KI, IF, IO, 6.116%, 09/20/35		132
	104	Series 2006-59, Class SD, IF, IO, 6.516%, 10/20/36		19
	343	Series 2007-17, Class JI, IF, IO, 6.626%, 04/16/37		66

SEE NOTES TO FINANCIAL STATEMENTS.

70 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	422	Series 2007-27, Class SA, IF, IO, 6.016%, 05/20/37		58
	695	Series 2007-40, Class SB, IF, IO, 6.566%, 07/20/37		128
	418	Series 2007-45, Class QA, IF, IO, 6.456%, 07/20/37		75
	11	Series 2007-49, Class NO, PO, 12/20/35		11
	446	Series 2007-50, Class AI, IF, IO, 6.591%, 08/20/37		82
	102	Series 2007-53, Class ES, IF, IO, 6.366%, 09/20/37		15
	112	Series 2007-53, Class SW, IF, 19.653%, 09/20/37		160
	241	Series 2007-57, Class QA, IF, IO, 6.316%, 10/20/37		36
	149	Series 2007-71, Class SB, IF, IO, 6.516%, 07/20/36		17
	231	Series 2007-72, Class US, IF, IO, 6.366%, 11/20/37		33
	229	Series 2007-76, Class SA, IF, IO, 6.346%, 11/20/37		32
	65	Series 2008-25, Class SB, IF, IO, 6.716%, 03/20/38		10
	130	Series 2008-33, Class XS, IF, IO, 7.516%, 04/16/38		22
	322	Series 2008-40, Class SA, IF, IO, 6.216%, 05/16/38		53
	500	Series 2008-50, Class KB, 6.000%, 06/20/38		559
	325	Series 2008-55, Class SA, IF, IO, 6.016%, 06/20/38		46
	310	Series 2008-93, Class AS, IF, IO, 5.516%, 12/20/38		42
	141	Series 2009-6, Class SA, IF, IO, 5.916%, 02/16/39		18
	139	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		26
	497	Series 2009-22, Class SA, IF, IO, 6.086%, 04/20/39		70
	457	Series 2009-31, Class ST, IF, IO, 6.166%, 03/20/39		62
	457	Series 2009-31, Class TS, IF, IO, 6.116%, 03/20/39		63
	330	Series 2009-79, Class OK, PO, 11/16/37		298
	673	Series 2009-106, Class ST, IF, IO, 5.816%, 02/20/38		92
	196	Series 2010-14, Class AO, PO, 12/20/32		191
	220	Series 2010-130, Class CP, 7.000%, 10/16/40		256
	711	Series 2011-137, Class WA, VAR, 5.524%, 07/20/40		804

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — Continued
	496	Series 2012-H21, Class DF, VAR, 0.845%, 05/20/61		497
	480	Series 2012-H24, Class FA, VAR, 0.645%, 03/20/60		479
	495	Series 2012-H26, Class MA, VAR, 0.745%, 07/20/62		494
	947	Series 2013-91, Class WA, VAR, 4.531%, 04/20/43		1,023
	464	Series 2013-H03, Class FA, VAR, 0.495%, 08/20/60		461
	501	Series 2013-H07, Class JA, 1.750%, 03/20/63		484
	149	NCUA Guaranteed Notes Trust, Series 2010-R3, Class 3A, 2.400%, 12/08/20		148
		Vendee Mortgage Trust,
	654	Series 1993-1, Class ZB, 7.250%, 02/15/23		760
	283	Series 1994-1, Class 1, VAR, 5.619%, 02/15/24		312
	397	Series 1996-1, Class 1Z, 6.750%, 02/15/26		446
	135	Series 1996-2, Class 1Z, 6.750%, 06/15/26		157
	537	Series 1997-1, Class 2Z, 7.500%, 02/15/27		610
	132	Series 1998-1, Class 2E, 7.000%, 03/15/28		150
				66,808
		Non-Agency CMO — 4.4%
		Alternative Loan Trust,
	160	Series 2002-8, Class A4, 6.500%, 07/25/32		165
	1,733	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		1,705
	91	Series 2004-18CB, Class 2A4, 5.700%, 09/25/34		92
	399	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		361
		American General Mortgage Loan Trust,
	68	Series 2009-1, Class A5, VAR, 5.750%, 09/25/48 (e)		68
	400	Series 2009-1, Class A7, VAR, 5.750%, 09/25/48 (e)		410
		ASG Resecuritization Trust,
	143	Series 2009-1, Class A60, VAR, 2.223%, 06/26/37 (e)		141
	103	Series 2009-2, Class A55, VAR, 4.863%, 05/24/36 (e)		105
	386	Series 2009-3, Class A65, VAR, 2.298%, 03/26/37 (e)		387
		Banc of America Alternative Loan Trust,
	112	Series 2003-7, Class 2A4, 5.000%, 09/25/18		114

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 71

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	68	Series 2003-9, Class 1CB2, 5.500%, 11/25/33		70
	41	Series 2003-11, Class PO, PO, 01/25/34		30
	40	Banc of America Funding Trust, Series 2004-1, Class PO, PO, 03/25/34		36
		Banc of America Mortgage Trust,
	21	Series 2003-8, Class APO, PO, 11/25/33		18
	25	Series 2004-1, Class APO, PO, 02/25/34		23
	110	Series 2004-3, Class 1A26, 5.500%, 04/25/34		111
	31	Series 2004-6, Class APO, PO, 07/25/34		26
		BCAP LLC Trust,
	389	Series 2010-RR7, Class 2A1, VAR, 2.278%, 07/26/45 (e)		377
	375	Series 2011-RR10, Class 2A1, VAR, 1.076%, 09/26/37 (e)		338
	65	Series 2011-RR5, Class 14A3, VAR, 2.704%, 07/26/36 (e)		65
	306	Series 2012-RR2, Class 1A1, VAR, 0.354%, 08/26/36 (e)		296
	130	Bear Stearns ARM Trust, Series 2005-5, Class A1, VAR, 2.210%, 08/25/35		129
		CHL Mortgage Pass-Through Trust,
	164	Series 2003-26, Class 1A6, 3.500%, 08/25/33		164
	26	Series 2003-J13, Class PO, PO, 01/25/34		23
	37	Series 2003-J7, Class 4A3, IF, 9.535%, 08/25/18		39
	102	Series 2004-5, Class 1A4, 5.500%, 06/25/34		106
	39	Series 2004-HYB3, Class 2A, VAR, 2.564%, 06/20/34		35
	363	Series 2005-22, Class 2A1, VAR, 2.977%, 11/25/35		289
		Citigroup Mortgage Loan Trust,
	177	Series 2008-AR4, Class 1A1A, VAR, 2.912%, 11/25/38 (e)		180
	688	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		693
	372	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		381
		Citigroup Mortgage Loan Trust, Inc.,
	32	Series 2003-UP3, Class A3, 7.000%, 09/25/33		33
	35	Series 2003-UST1, Class A1, 5.500%, 12/25/18		37
	5	Series 2003-UST1, Class PO1, PO, 12/25/18		4
	6	Series 2003-UST1, Class PO3, PO, 12/25/18		5

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	72	Credit Suisse First Boston Mortgage Securities Corp., Series 2003-23, Class 2A5, 5.000%, 10/25/18		73
		CSMC,
	849	Series 2010-11R, Class A6, VAR, 1.186%, 06/28/47 (e)		788
	411	Series 2011-7R, Class A1, VAR, 1.434%, 08/28/47 (e)		409
	243	Series 2011-9R, Class A1, VAR, 2.184%, 03/27/46 (e)		243
	145	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		148
	198	Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2005-3, Class 1A1, VAR, 5.339%, 06/25/20		202
	28	Deutsche Mortgage Securities, Inc. Mortgage Loan Trust, Series 2004-1, Class 2APO, PO, 10/25/18		26
		First Horizon Mortgage Pass-Through Trust,
	183	Series 2004-AR7, Class 2A2, VAR, 2.554%, 02/25/35		181
	190	Series 2005-AR1, Class 2A2, VAR, 2.658%, 04/25/35		188
	391	GSR Mortgage Loan Trust, Series 2006-1F, Class 1A3, 5.500%, 02/25/36		375
	54	Impac Secured Assets CMN Owner Trust, Series 2002-2, Class APO, PO, 04/25/33		33
	291	Indymac INDX Mortgage Loan Trust, Series 2005-AR11, Class A7, IO, VAR, 0.000%, 08/25/35		—	(h)
		JP Morgan Mortgage Trust,
	88	Series 2006-A2, Class 4A1, VAR, 2.735%, 08/25/34		86
	298	Series 2006-A2, Class 5A3, VAR, 2.849%, 11/25/33		297
		MASTR Adjustable Rate Mortgages Trust,
	49	Series 2004-3, Class 4A2, VAR, 2.393%, 04/25/34		46
	251	Series 2004-13, Class 2A1, VAR, 2.672%, 04/21/34		254
		MASTR Alternative Loan Trust,
	186	Series 2003-9, Class 8A1, 6.000%, 01/25/34		191
	499	Series 2004-4, Class 10A1, 5.000%, 05/25/24		517
	33	Series 2004-7, Class 30PO, PO, 08/25/34		25
	40	Series 2004-10, Class 1A1, 4.500%, 09/25/19		41
	167	Series 2005-6, Class 3A1, 5.500%, 11/25/20		164

SEE NOTES TO FINANCIAL STATEMENTS.

72 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — Continued
			Non-Agency CMO — Continued
			MASTR Asset Securitization Trust,
	92		Series 2003-2, Class 1A1, 5.000%, 03/25/18		93
	12		Series 2004-8, Class PO, PO, 08/25/19		11
	103		MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		82
			Merrill Lynch Mortgage Investors Trust,
	109		Series 2003-E, Class A1, VAR, 0.804%, 10/25/28		103
	160		Series 2004-A, Class A1, VAR, 0.644%, 04/25/29		150
	58		MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.504%, 02/25/35		54
	74		NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		76
			Nomura Asset Acceptance Corp. Alternative Loan Trust,
	50		Series 2003-A1, Class A1, 5.500%, 05/25/33		51
	25		Series 2003-A1, Class A2, 6.000%, 05/25/33		26
	12		Series 2003-A1, Class A5, 7.000%, 04/25/33		13
	—	(h)	PaineWebber CMO Trust, Series H, Class 4, 8.750%, 04/01/18		—	(h)
			RALI Trust,
	38		Series 2002-QS16, Class A3, IF, 16.238%, 10/25/17		40
	197		Series 2002-QS8, Class A5, 6.250%, 06/25/17		201
	58		Series 2003-QS3, Class A2, IF, 16.095%, 02/25/18		63
	222		Series 2003-QS9, Class A3, IF, IO, 7.366%, 05/25/18		27
	227		Series 2004-QS3, Class CB, 5.000%, 03/25/19		236
	154		Reperforming Loan REMIC Trust, Series 2005-R1, Class 2APO, PO, 03/25/35 (e)		131
	19		Residential Asset Securitization Trust, Series 2003-A14, Class A1, 4.750%, 02/25/19		19
			Salomon Brothers Mortgage Securities VII, Inc.,
	87		Series 2003-HYB1, Class A, VAR, 3.079%, 09/25/33		86
	9		Series 2003-UP2, Class PO1, PO, 12/25/18		8
			Springleaf Mortgage Loan Trust,
	190		Series 2011-1A, Class A1, VAR, 4.050%, 01/25/58 (e)		196
	367		Series 2012-2A, Class A, VAR, 2.220%, 10/25/57 (e)		372

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — Continued
	276	Series 2012-3A, Class A, VAR, 1.570%, 12/25/59 (e)		273
	103	Series 2012-3A, Class M1, VAR, 2.660%, 12/25/59 (e)		101
	173	Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		170
	336	Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		333
	125	Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		120
	131	Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-33H, Class 1A1, 5.500%, 10/25/33		134
	101	Structured Asset Securities Corp. Trust, Series 2005-6, Class 4A1, 5.000%, 05/25/35		102
		WaMu Mortgage Pass-Through Certificates,
	47	Series 2002-S8, Class 2A7, 5.250%, 01/25/18		49
	180	Series 2003-AR5, Class A7, VAR, 2.449%, 06/25/33		176
	93	Series 2004-AR3, Class A2, VAR, 2.457%, 06/25/34		94
	319	Washington Mutual Mortgage Pass-Through Certificates WMALT, Series 2005-4, Class CB7, 5.500%, 06/25/35		294
		Washington Mutual MSC Mortgage Pass-Through Certificates,
	37	Series 2003-MS2, Class 1A1, 5.750%, 02/25/33		39
	11	Series 2003-MS7, Class P, PO, 03/25/33		10
	317	Wedgewood Real Estate Trust, Series 2013-1A, Class A, VAR, 3.967%, 07/25/43 (e) (i)		317
	331	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		332
		Wells Fargo Mortgage-Backed Securities Trust,
	69	Series 2003-K, Class 1A1, VAR, 4.292%, 11/25/33		69
	41	Series 2004-BB, Class A4, VAR, 2.625%, 01/25/35		41
	116	Series 2004-EE, Class 3A1, VAR, 2.853%, 12/25/34		115
	379	Series 2004-P, Class 2A1, VAR, 2.614%, 09/25/34		379
				16,529
		Total Collateralized Mortgage Obligations (Cost $78,863)		83,337

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 73

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — 1.9%
			Banc of America Commercial Mortgage Trust,
	50		Series 2006-1, Class A4, VAR, 5.372%, 09/10/45		54
	300		Series 2006-4, Class A4, 5.634%, 07/10/46		327
			Banc of America Merrill Lynch Commercial Mortgage, Inc.,
	150		Series 2005-3, Class AM, 4.727%, 07/10/43		156
	176		Series 2005-6, Class ASB, VAR, 5.358%, 09/10/47		177
	200		BB-UBS Trust, Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		188
			Bear Stearns Commercial Mortgage Securities Trust,
	92		Series 2005-PWR9, Class AAB, 4.804%, 09/11/42		93
	360		Series 2006-PW11, Class A4, VAR, 5.610%, 03/11/39		390
	15,827		CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.213%, 12/11/49 (e)		120
	500		COMM Mortgage Trust, Series 2012-9W57, Class A, 2.365%, 02/10/29 (e)		507
	99		Commercial Mortgage Pass-Through Certificates, Series 2012-MVP, Class A, VAR, 2.131%, 11/19/26 (e)		100
	262		DBRR Trust, Series 2013-EZ2, Class A, VAR, 0.853%, 02/25/45 (e)		262
	229		Fontainebleau Miami Beach Trust, Series 2012-FBLU, Class A, 2.887%, 05/05/27 (e)		231
	300		GMAC Commercial Mortgage Securities, Inc. Trust, Series 2006-C1, Class A4, VAR, 5.238%, 11/10/45		317
	50		LB-UBS Commercial Mortgage Trust, Series 2006-C1, Class A4, 5.156%, 02/15/31		54
	132		Merrill Lynch Mortgage Trust, Series 2005-MCP1, Class ASB, VAR, 4.674%, 06/12/43		133
			Morgan Stanley Re-REMIC Trust,
	—	(h)	Series 2010-C30A, Class A3A, 3.250%, 12/17/43 (e)		—	(h)
	328		Series 2010-HQ4B, Class A7A, 4.970%, 04/18/40 (e)		335
	77		Series 2011-IO, Class A, 2.500%, 03/23/51 (e)		77
	491		Series 2012-XA, Class A, 2.000%, 07/28/49 (e)		495
	714		NCUA Guaranteed Notes Trust, Series 2010-C1, Class APT, 2.650%, 10/29/20		733
	125		NorthStar Mortgage Trust, Series 2012-1, Class A, VAR, 1.384%, 08/25/29 (e)		125

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		N-Star Real Estate CDO Ltd.,
	343	Series 2013-1A, Class A, 07/25/29 (e)		343
	250	Series 2013-1A, Class B, PO, 07/25/29 (e)		249
	387	ORES NPL LLC, Series 2013-LV2, Class A, 3.081%, 09/25/25 (e)		387
	629	TIAA Seasoned Commercial Mortgage Trust, Series 2007-C4, Class A3, VAR, 5.546%, 08/15/39		650
	116	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		111
	104	UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class A4, 3.525%, 05/10/63		102
	338	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		338
		Total Commercial Mortgage-Backed Securities (Cost $6,900)		7,054
	Corporate Bonds — 17.3%
		Consumer Discretionary — 0.9%
		Auto Components — 0.0% (g)
	99	Johnson Controls, Inc., 3.750%, 12/01/21		98
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	150	1.650%, 04/10/15 (e)		152
	150	1.875%, 01/11/18 (e)		147
	150	2.625%, 09/15/16 (e)		154
				453
		Household Durables — 0.0% (g)
	50	Newell Rubbermaid, Inc., 4.700%, 08/15/20		53
		Media — 0.5%
		CBS Corp.,
	25	4.300%, 02/15/21		25
	25	5.750%, 04/15/20		28
	135	8.875%, 05/15/19		172
	100	Comcast Corp., 5.900%, 03/15/16		112
	16	COX Communications, Inc., 5.450%, 12/15/14		17
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	150	4.600%, 02/15/21		150
	353	5.000%, 03/01/21		361
	78	Discovery Communications LLC, 4.375%, 06/15/21		81
		News America, Inc.,
	100	7.250%, 05/18/18		122
	100	7.700%, 10/30/25		121

SEE NOTES TO FINANCIAL STATEMENTS.

74 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Media — Continued
		Thomson Reuters Corp., (Canada),
	105	3.950%, 09/30/21		106
	60	4.700%, 10/15/19		65
		Time Warner Cable, Inc.,
	100	5.850%, 05/01/17		109
	50	6.750%, 07/01/18		56
	100	8.250%, 02/14/14		103
	150	8.250%, 04/01/19		175
	35	8.750%, 02/14/19		42
		Viacom, Inc.,
	33	1.250%, 02/27/15		33
	50	3.125%, 06/15/22		46
	11	3.250%, 03/15/23		10
	43	3.875%, 12/15/21		42
	50	4.500%, 03/01/21		52
	42	Walt Disney Co. (The), 0.450%, 12/01/15		42
				2,070
		Multiline Retail — 0.2%
		Kohl’s Corp.,
	40	4.000%, 11/01/21		40
	40	6.250%, 12/15/17		45
		Macy’s Retail Holdings, Inc.,
	37	2.875%, 02/15/23		33
	25	7.450%, 07/15/17		30
	35	Nordstrom, Inc., 4.000%, 10/15/21		37
	400	Target Corp., 6.000%, 01/15/18		466
				651
		Specialty Retail — 0.1%
	59	Gap, Inc. (The), 5.950%, 04/12/21		65
	130	Home Depot, Inc. (The), 5.400%, 03/01/16		144
				209
		Total Consumer Discretionary		3,534
		Consumer Staples — 0.7%
		Beverages — 0.3%
	75	Anheuser-Busch Cos. LLC, 5.500%, 01/15/18		86
	200	Anheuser-Busch InBev Worldwide, Inc., 7.750%, 01/15/19		250
		Coca-Cola Co. (The),
	100	3.625%, 03/15/14		102
	50	4.875%, 03/15/19		56
	70	Diageo Capital plc, (United Kingdom), 4.828%, 07/15/20		78
	30	Diageo Finance B.V., (Netherlands), 5.300%, 10/28/15		33

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Beverages — Continued
	85	FBG Finance Pty Ltd., (Australia), 5.125%, 06/15/15 (e)		91
	30	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		29
		PepsiCo, Inc.,
	33	0.800%, 08/25/14		33
	180	1.250%, 08/13/17		176
	31	3.000%, 08/25/21		30
	6	7.900%, 11/01/18		8
	30	SABMiller plc, (United Kingdom), 6.500%, 07/01/16 (e)		34
				1,006
		Food & Staples Retailing — 0.1%
	54	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		59
		Kroger Co. (The),
	50	2.200%, 01/15/17		50
	30	6.150%, 01/15/20		35
	75	6.400%, 08/15/17		86
	50	7.500%, 01/15/14		51
	94	Walgreen Co., 3.100%, 09/15/22		88
				369
		Food Products — 0.3%
	135	Bunge Ltd. Finance Corp., 8.500%, 06/15/19		164
	14	Bunge N.A. Finance LP, 5.900%, 04/01/17		16
		Cargill, Inc.,
	100	3.300%, 03/01/22 (e)		97
	106	4.307%, 05/14/21 (e)		111
	30	ConAgra Foods, Inc., 2.100%, 03/15/18		30
		Kraft Foods Group, Inc.,
	52	5.375%, 02/10/20		58
	332	6.125%, 08/23/18		388
		Mondelez International, Inc.,
	48	5.375%, 02/10/20		53
	118	6.125%, 02/01/18		136
				1,053
		Household Products — 0.0% (g)
	20	Kimberly-Clark Corp., 2.400%, 03/01/22		19
	67	Procter & Gamble - ESOP, Series A, 9.360%, 01/01/21		85
				104
		Total Consumer Staples		2,532

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 75

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Energy — 1.2%
		Energy Equipment & Services — 0.1%
	107	Halliburton Co., 3.500%, 08/01/23		106
	15	National Oilwell Varco, Inc., 1.350%, 12/01/17		14
		Transocean, Inc., (Cayman Islands),
	39	3.800%, 10/15/22		36
	35	6.375%, 12/15/21		39
	100	6.500%, 11/15/20		111
	33	Weatherford International Ltd., (Bermuda), 4.500%, 04/15/22		32
				338
		Oil, Gas & Consumable Fuels — 1.1%
		Apache Corp.,
	58	2.625%, 01/15/23		53
	57	3.250%, 04/15/22		56
	25	6.900%, 09/15/18		30
		BP Capital Markets plc, (United Kingdom),
	20	1.375%, 11/06/17		19
	106	2.750%, 05/10/23		96
	100	4.742%, 03/11/21		107
	300	5.250%, 11/07/13		303
	150	Canadian Natural Resources Ltd., (Canada), 5.900%, 02/01/18		171
	21	Cenovus Energy, Inc., (Canada), 3.000%, 08/15/22		20
	39	Chevron Corp., 2.427%, 06/24/20		38
	150	ConocoPhillips, 5.750%, 02/01/19		174
	190	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		215
	150	Devon Energy Corp., 1.875%, 05/15/17		148
	80	Encana Corp., (Canada), 6.500%, 05/15/19		94
	200	Eni S.p.A., (Italy), 4.150%, 10/01/20 (e)		203
		EOG Resources, Inc.,
	23	2.625%, 03/15/23		21
	100	4.100%, 02/01/21		105
	50	Magellan Midstream Partners LP, 6.550%, 07/15/19		59
		Marathon Oil Corp.,
	228	5.900%, 03/15/18		260
	175	6.000%, 10/01/17		200
	12	Noble Holding International Ltd., (Cayman Islands), 3.950%, 03/15/22		12
	35	Occidental Petroleum Corp., 1.750%, 02/15/17		35
	40	PC Financial Partnership, 5.000%, 11/15/14		42
	84	Petrobras Global Finance B.V., (Netherlands), 4.375%, 05/20/23		74

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Oil, Gas & Consumable Fuels — Continued
		Petrobras International Finance Co., (Cayman Islands),
	90	5.375%, 01/27/21		88
	50	7.875%, 03/15/19		56
	97	Petro-Canada, (Canada), 6.050%, 05/15/18		112
	43	Phillips 66, 2.950%, 05/01/17		44
	47	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		47
		Spectra Energy Capital LLC,
	100	5.500%, 03/01/14		102
	30	5.668%, 08/15/14		32
	140	6.200%, 04/15/18		159
	50	8.000%, 10/01/19		60
		Statoil ASA, (Norway),
	143	2.650%, 01/15/24		131
	67	3.125%, 08/17/17		70
	83	3.150%, 01/23/22		82
	50	Talisman Energy, Inc., (Canada), 7.750%, 06/01/19		60
		Total Capital International S.A., (France),
	27	0.750%, 01/25/16		27
	44	1.500%, 02/17/17		44
	75	1.550%, 06/28/17		74
	175	Total Capital S.A., (France), 2.300%, 03/15/16		180
		TransCanada PipeLines Ltd., (Canada),
	100	6.500%, 08/15/18		119
	30	7.125%, 01/15/19		36
				4,058
		Total Energy		4,396
		Financials — 9.7%
		Capital Markets — 2.6%
		Bank of New York Mellon Corp. (The),
	250	2.950%, 06/18/15		260
	75	3.100%, 01/15/15		77
	75	4.600%, 01/15/20		81
		BlackRock, Inc.,
	325	3.500%, 12/10/14		337
	326	5.000%, 12/10/19		367
	150	Blackstone Holdings Finance Co. LLC, 5.875%, 03/15/21 (e)		167
	40	Charles Schwab Corp. (The), 3.225%, 09/01/22		38
		Goldman Sachs Group, Inc. (The),
	100	1.600%, 11/23/15		101
	100	3.300%, 05/03/15		103
	255	3.625%, 02/07/16		267

SEE NOTES TO FINANCIAL STATEMENTS.

76 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Capital Markets — Continued
	66	3.700%, 08/01/15		69
	68	5.375%, 03/15/20		74
	300	5.500%, 11/15/14		316
	80	5.750%, 01/24/22		88
	1,100	5.950%, 01/18/18		1,231
	250	7.500%, 02/15/19		298
	200	ING Bank N.V., (Netherlands), 3.750%, 03/07/17 (e)		208
		Jefferies Group LLC,
	111	3.875%, 11/09/15		115
	150	5.125%, 04/13/18		159
	125	8.500%, 07/15/19		152
		Macquarie Bank Ltd., (Australia),
	93	2.000%, 08/15/16 (e)		93
	263	5.000%, 02/22/17 (e)		284
		Macquarie Group Ltd., (Australia),
	150	6.000%, 01/14/20 (e)		162
	100	7.300%, 08/01/14 (e)		105
	40	7.625%, 08/13/19 (e)		47
		Merrill Lynch & Co., Inc.,
	200	Series C, 5.000%, 01/15/15		210
	157	5.450%, 07/15/14		163
	814	6.400%, 08/28/17		928
	266	6.875%, 04/25/18		310
		Morgan Stanley,
	104	4.000%, 07/24/15		109
	195	4.200%, 11/20/14		202
	166	5.500%, 07/24/20		182
	100	5.500%, 07/28/21		109
	450	5.625%, 09/23/19		495
	100	5.750%, 01/25/21		110
	250	6.000%, 05/13/14		258
	100	6.625%, 04/01/18		115
	100	7.300%, 05/13/19		118
		Nomura Holdings, Inc., (Japan),
	85	4.125%, 01/19/16		89
	84	6.700%, 03/04/20		94
	36	State Street Corp., 3.100%, 05/15/23		33
		UBS AG, (Switzerland),
	500	3.875%, 01/15/15		521
	100	5.750%, 04/25/18		115
	100	5.875%, 12/20/17		115
				9,475

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Commercial Banks — 2.8%
	100	ANZ New Zealand International Ltd., (New Zealand), 3.125%, 08/10/15 (e)		104
	250	Australia & New Zealand Banking Group Ltd., (Australia), 2.400%, 11/23/16 (e)		258
		Bank of Montreal, (Canada),
	250	1.300%, 10/31/14 (e)		252
	85	2.550%, 11/06/22		78
		Bank of Nova Scotia, (Canada),
	121	1.650%, 10/29/15 (e)		123
	175	2.550%, 01/12/17		179
	123	3.400%, 01/22/15		128
	136	Bank of Tokyo-Mitsubishi UFJ Ltd. (The), (Japan), 3.850%, 01/22/15 (e)		141
		Barclays Bank plc, (United Kingdom),
	200	2.500%, 09/21/15 (e)		207
	100	2.750%, 02/23/15		103
	200	5.200%, 07/10/14		207
	250	6.050%, 12/04/17 (e)		275
		BB&T Corp.,
	70	3.375%, 09/25/13		70
	125	3.950%, 04/29/16		133
	100	4.900%, 06/30/17		109
	150	5.700%, 04/30/14		155
	300	Capital One Bank USA N.A., 3.375%, 02/15/23		279
	55	Comerica, Inc., 3.000%, 09/16/15		57
	250	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		256
		Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., (Netherlands),
	250	3.200%, 03/11/15 (e)		259
	34	3.375%, 01/19/17		36
	118	3.875%, 02/08/22		117
	350	Fifth Third Bancorp, 5.450%, 01/15/17		384
		HSBC Holdings plc, (United Kingdom),
	196	4.000%, 03/30/22		198
	300	4.875%, 01/14/22		321
	300	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		351
		National Australia Bank Ltd., (Australia),
	300	2.750%, 09/28/15 (e)		311
	100	3.750%, 03/02/15 (e)		104
		Nordea Bank AB, (Sweden),
	100	1.750%, 10/04/13 (e)		100
	300	3.125%, 03/20/17 (e)		311
		PNC Funding Corp.,
	133	4.375%, 08/11/20		142

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 77

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	265	5.125%, 02/08/20		294
	110	5.250%, 11/15/15		120
	115	5.625%, 02/01/17		127
		Royal Bank of Canada, (Canada),
	125	2.200%, 07/27/18		125
	200	2.300%, 07/20/16		206
		Toronto-Dominion Bank (The), (Canada),
	200	1.500%, 03/13/17 (e)		200
	235	2.200%, 07/29/15 (e)		242
		U.S. Bancorp,
	150	2.450%, 07/27/15		155
	208	2.875%, 11/20/14		214
	250	Wachovia Bank N.A., 6.000%, 11/15/17		286
		Wachovia Corp.,
	235	4.875%, 02/15/14		239
	850	5.750%, 02/01/18		974
		Wells Fargo & Co.,
	415	5.625%, 12/11/17		474
	500	SUB, 3.676%, 06/15/16		531
	315	Wells Fargo Bank N.A., 4.750%, 02/09/15		332
	285	Westpac Banking Corp., (Australia), 4.875%, 11/19/19		317
				10,584
		Consumer Finance — 0.9%
	139	American Express Credit Corp., 2.800%, 09/19/16		145
		American Honda Finance Corp.,
	333	1.450%, 02/27/15 (e)		336
	200	2.125%, 02/28/17 (e)		202
		Capital One Financial Corp.,
	110	3.500%, 06/15/23 (e)		103
	245	7.375%, 05/23/14		257
		Caterpillar Financial Services Corp.,
	58	2.850%, 06/01/22		55
	100	5.500%, 03/15/16		110
	150	6.200%, 09/30/13		151
	65	7.050%, 10/01/18		79
	100	7.150%, 02/15/19		123
		Ford Motor Credit Co. LLC,
	200	3.000%, 06/12/17		201
	200	4.250%, 09/20/22		195
	200	HSBC Finance Corp., 5.250%, 01/15/14		203
	250	HSBC USA, Inc., 2.375%, 02/13/15		256
		John Deere Capital Corp.,
	50	2.250%, 04/17/19		50

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Consumer Finance — Continued
	33	3.150%, 10/15/21		32
	73	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		71
	66	PACCAR Financial Corp., 1.600%, 03/15/17		65
		Toyota Motor Credit Corp.,
	225	1.750%, 05/22/17		225
	200	2.000%, 09/15/16		205
	100	2.050%, 01/12/17		101
	154	3.200%, 06/17/15		161
				3,326
		Diversified Financial Services — 1.9%
	161	Associates Corp. of North America, 6.950%, 11/01/18		189
		Bank of America Corp.,
	42	4.100%, 07/24/23		41
	100	5.000%, 05/13/21		106
	130	5.625%, 07/01/20		143
	300	Series L, 5.650%, 05/01/18		334
	170	5.750%, 12/01/17		190
	50	5.875%, 01/05/21		56
	100	6.500%, 08/01/16		113
	125	7.375%, 05/15/14		131
	425	Bank of America N.A., 5.300%, 03/15/17		463
		Citigroup, Inc.,
	100	1.250%, 01/15/16		99
	135	3.375%, 03/01/23		127
	43	4.587%, 12/15/15		46
	125	4.750%, 05/19/15		132
	506	5.000%, 09/15/14		526
	54	5.375%, 08/09/20		60
	13	6.000%, 08/15/17		15
	285	6.010%, 01/15/15		304
	300	6.125%, 11/21/17		344
	190	CME Group, Inc., 5.750%, 02/15/14		194
		General Electric Capital Corp.,
	17	1.000%, 12/11/15		17
	220	4.375%, 09/16/20		232
	800	4.650%, 10/17/21		843
	500	5.400%, 02/15/17		558
	475	5.625%, 05/01/18		542
	500	5.650%, 06/09/14		520
	200	Metlife of Connecticut Global Funding I, 5.125%, 08/15/14 (e)		209
		Shell International Finance B.V., (Netherlands),
	42	1.125%, 08/21/17		41

SEE NOTES TO FINANCIAL STATEMENTS.

78 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Diversified Financial Services — Continued
	184	3.100%, 06/28/15		193
	55	4.000%, 03/21/14		56
	195	4.375%, 03/25/20		213
				7,037
		Insurance — 1.0%
		ACE INA Holdings, Inc.,
	45	2.600%, 11/23/15		47
	50	5.600%, 05/15/15		54
		Aflac, Inc.,
	28	2.650%, 02/15/17		29
	83	3.625%, 06/15/23		80
	32	4.000%, 02/15/22		32
	25	8.500%, 05/15/19		32
	61	Allstate Corp. (The), 3.150%, 06/15/23		59
	350	American International Group, Inc., 5.450%, 05/18/17		388
	45	Aon Corp., 3.500%, 09/30/15		47
		Berkshire Hathaway Finance Corp.,
	65	1.300%, 05/15/18		63
	150	5.400%, 05/15/18		172
		Berkshire Hathaway, Inc.,
	202	3.400%, 01/31/22		202
	98	3.750%, 08/15/21		101
	90	CNA Financial Corp., 5.875%, 08/15/20		102
	80	Jackson National Life Global Funding, 4.700%, 06/01/18 (e)		84
	41	Liberty Mutual Group, Inc., 5.000%, 06/01/21 (e)		43
	35	Lincoln National Corp., 4.200%, 03/15/22		36
		MassMutual Global Funding II,
	300	2.000%, 04/05/17 (e)		298
	100	3.125%, 04/14/16 (e)		105
		Metropolitan Life Global Funding I,
	100	1.500%, 01/10/18 (e)		97
	107	1.700%, 06/29/15 (e)		108
	200	2.500%, 09/29/15 (e)		207
	175	3.650%, 06/14/18 (e)		185
	100	3.875%, 04/11/22 (e)		102
	222	5.200%, 09/18/13 (e)		222
		New York Life Global Funding,
	170	1.300%, 01/12/15 (e)		171
	125	3.000%, 05/04/15 (e)		130
	150	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		154
	200	Pricoa Global Funding I, 5.450%, 06/11/14 (e)		207

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Diversified Financial Services — Continued
	16	Principal Financial Group, Inc., 1.850%, 11/15/17		16
	35	Principal Life Global Funding II, 1.000%, 12/11/15 (e)		35
	150	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		189
				3,797
		Real Estate Investment Trusts (REITs) — 0.3%
	45	American Tower Trust I, 1.551%, 03/15/43 (e)		44
		CommonWealth REIT,
	125	5.875%, 09/15/20		126
	150	6.650%, 01/15/18		161
	27	ERP Operating LP, 4.625%, 12/15/21		28
		HCP, Inc.,
	44	2.625%, 02/01/20		41
	8	3.750%, 02/01/19		8
	92	5.375%, 02/01/21		100
	53	ProLogis LP, 4.250%, 08/15/23		52
		Simon Property Group LP,
	81	4.125%, 12/01/21		84
	17	4.200%, 02/01/15		18
	40	4.375%, 03/01/21		42
	100	5.625%, 08/15/14		104
	50	5.650%, 02/01/20		56
	40	6.100%, 05/01/16		45
	50	6.125%, 05/30/18		58
	159	WEA Finance LLC/WT Finance Aust Pty Ltd., 6.750%, 09/02/19 (e)		188
				1,155
		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)		524
	250	1.875%, 10/02/19 (e)		237
				788
		Total Financials		36,162
		Health Care — 0.5%
		Biotechnology — 0.2%
		Amgen, Inc.,
	400	3.875%, 11/15/21		401
	44	4.500%, 03/15/20		47
	40	5.700%, 02/01/19		46
	98	Celgene Corp., 3.250%, 08/15/22		92
				586

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 79

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Health Care Equipment & Supplies — 0.0% (g)
		Baxter International, Inc.,
	50	4.000%, 03/01/14		51
	50	4.625%, 03/15/15		53
	40	Becton Dickinson and Co., 5.000%, 05/15/19		45
				149
		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		51
	112	UnitedHealth Group, Inc., 3.375%, 11/15/21		111
		WellPoint, Inc.,
	93	2.300%, 07/15/18		92
	115	3.125%, 05/15/22		108
				379
		Pharmaceuticals — 0.2%
		AbbVie, Inc.,
	119	1.750%, 11/06/17		117
	87	2.900%, 11/06/22		81
	100	AstraZeneca plc, (United Kingdom), 5.400%, 06/01/14		104
	150	GlaxoSmithKline Capital, Inc., 5.650%, 05/15/18		173
		Merck & Co., Inc.,
	62	2.400%, 09/15/22		57
	75	6.000%, 09/15/17		87
				619
		Total Health Care		1,733
		Industrials — 1.0%
		Aerospace & Defense — 0.1%
	70	BAE Systems Holdings, Inc., 6.375%, 06/01/19 (e)		80
	43	EADS Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		39
	100	Honeywell International, Inc., 5.300%, 03/01/18		114
	47	Lockheed Martin Corp., 2.125%, 09/15/16		48
	43	Precision Castparts Corp., 0.700%, 12/20/15		43
	50	United Technologies Corp., 6.125%, 02/01/19		59
				383
		Air Freight & Logistics — 0.2%
	575	Federal Express Corp. 1998 Pass-Through Trust, 6.720%, 01/15/22		670

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Airlines — 0.1%
	200	American Airlines 2013-2 Class A Pass-Through Trust, 4.950%, 07/15/24 (e)		201
	34	Continental Airlines 1999-2 Class A-1 Pass-Through Trust, 7.256%, 03/15/20		37
	66	Delta Air Lines 2010-2 Class A Pass-Through Trust, 4.950%, 05/23/19		70
				308
		Commercial Services & Supplies — 0.0% (g)
		ADT Corp. (The),
	70	3.500%, 07/15/22		58
	24	4.125%, 06/15/23		21
	50	Pitney Bowes, Inc., 5.600%, 03/15/18		54
	60	Waste Management, Inc., 7.375%, 03/11/19		72
				205
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	32	1.625%, 05/08/17		32
	41	2.875%, 05/08/22		39
	70	Fluor Corp., 3.375%, 09/15/21		69
				140
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	27	1.500%, 11/02/17 (e)		26
	50	5.600%, 05/15/18		57
				83
		Industrial Conglomerates — 0.1%
	152	Koninklijke Philips N.V., (Netherlands), 3.750%, 03/15/22		151
	100	Siemens Financieringsmaatschappij N.V., (Netherlands), 5.750%, 10/17/16 (e)		113
				264
		Machinery — 0.1%
		Caterpillar, Inc.,
	74	1.500%, 06/26/17		73
	31	2.600%, 06/26/22		29
	89	Deere & Co., 2.600%, 06/08/22		84
	34	Ingersoll-Rand Global Holding Co., Ltd., (Bermuda), 4.250%, 06/15/23 (e)		33
	25	Parker Hannifin Corp., 5.500%, 05/15/18		28
				247
		Road & Rail — 0.4%
		Burlington Northern Santa Fe LLC,
	43	3.050%, 03/15/22		41

SEE NOTES TO FINANCIAL STATEMENTS.

80 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Road & Rail — Continued
	32	3.450%, 09/15/21		32
	19	3.600%, 09/01/20		20
	100	5.650%, 05/01/17		113
	100	7.000%, 02/01/14		102
		CSX Corp.,
	30	6.250%, 04/01/15		32
	30	7.375%, 02/01/19		37
	50	7.900%, 05/01/17		59
		ERAC USA Finance LLC,
	48	2.750%, 03/15/17 (e)		48
	27	4.500%, 08/16/21 (e)		28
		Norfolk Southern Corp.,
	138	3.250%, 12/01/21		135
	50	7.700%, 05/15/17		60
	53	Penske Truck Leasing Co. LP/PTL Finance Corp., 2.875%, 07/17/18 (e)		52
		Ryder System, Inc.,
	48	2.500%, 03/01/17		48
	55	3.600%, 03/01/16		58
		Union Pacific Corp.,
	21	2.950%, 01/15/23		20
	75	3.646%, 02/15/24 (e)		74
	233	4.163%, 07/15/22		244
	100	4.875%, 01/15/15		105
	115	United Parcel Service of America, Inc., 8.375%, 04/01/20		149
				1,457
		Total Industrials		3,757
		Information Technology — 0.9%
		Computers & Peripherals — 0.4%
		Apple, Inc.,
	199	2.400%, 05/03/23		180
	207	VAR, 0.516%, 05/03/18		207
		EMC Corp.,
	100	1.875%, 06/01/18		99
	100	3.375%, 06/01/23		96
		Hewlett-Packard Co.,
	208	2.600%, 09/15/17		209
	195	4.375%, 09/15/21		187
	87	4.650%, 12/09/21		85
	325	5.400%, 03/01/17		356
	200	6.125%, 03/01/14		205
				1,624

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Electronic Equipment, Instruments & Components — 0.1%
		Arrow Electronics, Inc.,
	32	3.000%, 03/01/18		32
	55	3.375%, 11/01/15		57
	16	4.500%, 03/01/23		16
	100	6.875%, 06/01/18		113
	13	7.500%, 01/15/27		15
				233
		IT Services — 0.2%
		International Business Machines Corp.,
	126	1.250%, 02/06/17		125
	309	1.625%, 05/15/20		287
	150	5.700%, 09/14/17		172
	200	7.625%, 10/15/18		252
				836
		Office Electronics — 0.0% (g)
		Xerox Corp.,
	39	2.950%, 03/15/17		40
	50	5.625%, 12/15/19		55
	40	6.750%, 02/01/17		45
				140
		Semiconductors & Semiconductor Equipment — 0.0% (g)
	30	National Semiconductor Corp., 6.600%, 06/15/17		35
	73	Texas Instruments, Inc., 1.650%, 08/03/19		70
				105
		Software — 0.2%
	25	Intuit, Inc., 5.750%, 03/15/17		28
		Microsoft Corp.,
	23	0.875%, 11/15/17		22
	120	1.625%, 09/25/15		123
	34	2.125%, 11/15/22		30
	68	2.375%, 05/01/23		62
		Oracle Corp.,
	200	5.250%, 01/15/16		220
	100	5.750%, 04/15/18		116
				601
		Total Information Technology		3,539
		Materials — 0.4%
		Chemicals — 0.2%
		Dow Chemical Co. (The),
	61	4.125%, 11/15/21		62
	38	4.250%, 11/15/20		39

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 81

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Chemicals — Continued
	40	8.550%, 05/15/19		51
		E.I. du Pont de Nemours & Co.,
	101	1.950%, 01/15/16		103
	100	6.000%, 07/15/18		118
	34	Mosaic Co. (The), 3.750%, 11/15/21		33
	25	Potash Corp. of Saskatchewan, Inc., (Canada), 3.250%, 12/01/17		26
	230	Praxair, Inc., 4.625%, 03/30/15		244
	150	Union Carbide Corp., 7.500%, 06/01/25		176
				852
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	37	1.000%, 02/24/15		37
	100	5.400%, 03/29/17		112
	100	6.500%, 04/01/19		118
		Freeport-McMoRan Copper & Gold, Inc.,
	128	2.150%, 03/01/17		125
	67	3.100%, 03/15/20 (e)		61
	40	3.875%, 03/15/23 (e)		36
	27	Nucor Corp., 4.000%, 08/01/23		26
		Rio Tinto Finance USA Ltd., (Australia),
	27	3.500%, 11/02/20		26
	50	8.950%, 05/01/14		53
	58	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		57
				651
		Total Materials		1,503
		Telecommunication Services — 0.8%
		Diversified Telecommunication Services — 0.7%
		AT&T, Inc.,
	30	0.800%, 12/01/15		30
	69	0.900%, 02/12/16		69
	100	4.450%, 05/15/21		106
	135	5.100%, 09/15/14		141
	150	5.500%, 02/01/18		170
	165	BellSouth Corp., 5.200%, 09/15/14		173
	65	BellSouth Telecommunications, Inc., 6.300%, 12/15/15		67
	100	British Telecommunications plc, (United Kingdom), 5.950%, 01/15/18		114
	150	Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14		153
	700	GTE Corp., 6.840%, 04/15/18		823
	27	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		26

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Diversified Telecommunication Services — Continued
	61	Orange S.A., (France), 2.750%, 09/14/16		63
	148	Qwest Corp., 6.750%, 12/01/21		159
	225	Telecom Italia Capital S.A., (Luxembourg), 5.250%, 11/15/13		227
	30	Telefonica Emisiones S.A.U., (Spain), 5.877%, 07/15/19		32
	100	Verizon Communications, Inc., 5.500%, 02/15/18		113
	100	Verizon New England, Inc., Series C, 4.750%, 10/01/13		100
				2,566
		Wireless Telecommunication Services — 0.1%
	40	Crown Castle Towers LLC, 3.214%, 08/15/35 (e)		41
		Vodafone Group plc, (United Kingdom),
	100	1.500%, 02/19/18		96
	100	1.625%, 03/20/17		98
	125	5.000%, 09/15/15		135
				370
		Total Telecommunication Services		2,936
		Utilities — 1.2%
		Electric Utilities — 0.8%
	27	American Electric Power Co., Inc., 1.650%, 12/15/17		26
	43	Baltimore Gas & Electric Co., 2.800%, 08/15/22		40
	50	Cleveland Electric Illuminating Co. (The), Series D, 7.880%, 11/01/17		59
	30	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		35
	20	DTE Electric Co., 2.650%, 06/15/22		19
	60	Duke Energy Indiana, Inc., 3.750%, 07/15/20		63
		Duke Energy Progress, Inc.,
	40	2.800%, 05/15/22		38
	233	5.125%, 09/15/13		233
	150	5.300%, 01/15/19		172
	100	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		103
	40	Georgia Power Co., 6.000%, 11/01/13		40
		Indiana Michigan Power Co.,
	100	Series J, 3.200%, 03/15/23		94
	135	7.000%, 03/15/19		161
	25	Jersey Central Power & Light Co., 7.350%, 02/01/19		30
	47	Kansas City Power & Light Co., 3.150%, 03/15/23		44

SEE NOTES TO FINANCIAL STATEMENTS.

82 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — Continued
		Electric Utilities — Continued
	4	Kiowa Power Partners LLC, 4.811%, 12/30/13 (e)		4
	60	Nevada Power Co., 7.125%, 03/15/19		74
		NextEra Energy Capital Holdings, Inc.,
	25	1.200%, 06/01/15		25
	150	7.875%, 12/15/15		172
	40	Niagara Mohawk Power Corp., 4.881%, 08/15/19 (e)		44
	25	Ohio Power Co., 6.050%, 05/01/18		29
	50	Oncor Electric Delivery Co. LLC, 6.800%, 09/01/18		60
		Pacific Gas & Electric Co.,
	68	2.450%, 08/15/22		62
	50	3.250%, 06/15/23		47
	125	5.625%, 11/30/17		143
		PacifiCorp,
	100	3.850%, 06/15/21		104
	60	5.650%, 07/15/18		70
	75	Peco Energy Co., 5.350%, 03/01/18		86
	51	Public Service Co. of Colorado, 3.200%, 11/15/20		52
	74	Public Service Co. of Oklahoma, 4.400%, 02/01/21		78
	200	Public Service Electric & Gas Co., 6.330%, 11/01/13		202
		Southern Co. (The),
	45	1.950%, 09/01/16		46
	40	4.150%, 05/15/14		41
	30	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		39
	100	Virginia Electric and Power Co., 5.400%, 04/30/18		115
		Wisconsin Electric Power Co.,
	30	6.000%, 04/01/14		31
	100	6.250%, 12/01/15		112
	27	Xcel Energy, Inc., 0.750%, 05/09/16		27
				2,820
		Gas Utilities — 0.0% (g)
	30	Atmos Energy Corp., 8.500%, 03/15/19		38
	50	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		58
				96
		Independent Power Producers & Energy Traders — 0.1%
	72	Exelon Generation Co. LLC, 4.000%, 10/01/20		72
	150	PPL Energy Supply LLC, 4.600%, 12/15/21		150
				222

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Multi-Utilities — 0.2%
		AGL Capital Corp.,
	94	3.500%, 09/15/21		95
	100	6.375%, 07/15/16		113
	50	Consumers Energy Co., 5.650%, 04/15/20		58
	150	Dominion Resources, Inc., 8.875%, 01/15/19		194
	180	Nisource Finance Corp., 4.450%, 12/01/21		184
		Sempra Energy,
	80	8.900%, 11/15/13		81
	150	9.800%, 02/15/19		200
				925
		Water Utilities — 0.1%
	200	American Water Capital Corp., 6.085%, 10/15/17		230
		Total Utilities		4,293
		Total Corporate Bonds (Cost $61,159)		64,385
	Foreign Government Securities — 0.8%
		Israel Government AID Bond, (Israel),
	329	Zero Coupon, 08/15/17		310
	1,557	Zero Coupon, 08/15/20		1,297
	500	Zero Coupon, 02/15/22		385
		Province of Ontario, (Canada),
	400	0.950%, 05/26/15		403
	250	2.700%, 06/16/15		259
	300	2.950%, 02/05/15		310
		Total Foreign Government Securities (Cost $2,962)		2,964
	Mortgage Pass-Through Securities — 11.2%
		Federal Home Loan Mortgage Corp.,
	149	ARM, 2.129%, 01/01/37		157
	279	ARM, 2.159%, 08/01/36		294
	14	ARM, 2.250%, 07/01/26		14
	36	ARM, 2.259%, 01/01/27		39
	220	ARM, 2.398%, 03/01/37		235
	122	ARM, 2.637%, 09/01/36		129
	177	ARM, 2.697%, 09/01/36		189
	320	ARM, 2.711%, 06/01/36		341
	438	ARM, 2.759%, 12/01/34		467
	194	ARM, 2.889%, 04/01/38		207
	111	ARM, 3.066%, 02/01/37		119
	73	ARM, 5.724%, 11/01/36		76
		Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	138	4.000%, 06/01/19		145
	38	4.500%, 10/01/18		40

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 83

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — Continued
	256		5.500%, 06/01/17 - 01/01/24		277
	69		6.000%, 10/01/17 - 04/01/18		71
	355		6.500%, 01/01/17 - 03/01/22		378
	—	(h)	7.500%, 10/01/14		—	(h)
			Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	11		6.000%, 12/01/22		13
	60		6.500%, 12/01/13 - 08/01/26		66
			Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	72		6.000%, 01/01/34		80
	103		7.000%, 04/01/26 - 02/01/37		117
	7		7.500%, 08/01/25		8
	8		8.000%, 07/01/20 - 11/01/24		10
	22		8.500%, 07/01/28		26
	414		Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		482
			Federal Home Loan Mortgage Corp. Gold Pools, Other,
	2,753		3.500%, 05/01/33 - 05/01/43		2,737
	478		4.000%, 06/01/42		490
	256		6.000%, 02/01/33		279
			Federal Home Loan Mortgage Corp., 30 Year, Single Family,
	1		12.000%, 08/01/15 - 07/01/19		1
			Federal National Mortgage Association,
	72		ARM, 1.828%, 02/01/37		75
	4		ARM, 1.908%, 03/01/19		4
	284		ARM, 1.922%, 02/01/35		299
	199		ARM, 1.961%, 09/01/35		209
	200		ARM, 1.983%, 01/01/35		211
	85		ARM, 2.102%, 08/01/35		89
	181		ARM, 2.295%, 08/01/34		191
	250		ARM, 2.346%, 01/01/35		263
	165		ARM, 2.374%, 04/01/35		175
	1		ARM, 2.375%, 08/01/19		1
	217		ARM, 2.382%, 09/01/35		231
	210		ARM, 2.406%, 02/01/37		222
	82		ARM, 2.418%, 08/01/36		87
	152		ARM, 2.423%, 04/01/33		161
	311		ARM, 2.451%, 09/01/34		332
	174		ARM, 2.465%, 02/01/35		184
	115		ARM, 2.495%, 11/01/33		121
	178		ARM, 2.526%, 10/01/34		189
	141		ARM, 2.600%, 07/01/46		151
	229		ARM, 2.679%, 09/01/33		244
	16		ARM, 2.812%, 09/01/27		17

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	114		ARM, 2.854%, 09/01/36		122
	283		ARM, 2.888%, 02/01/36		299
	13		ARM, 3.765%, 03/01/29		14
			Federal National Mortgage Association, 15 Year, Single Family,
	67		4.000%, 05/01/19		71
	650		4.500%, 05/01/18 - 05/01/19		695
	447		5.000%, 06/01/18 - 04/01/19		482
	286		5.500%, 01/01/20 - 06/01/20		303
	387		6.000%, 03/01/21 - 01/01/24		423
	66		6.500%, 09/01/13 - 08/01/20		71
			Federal National Mortgage Association, 20 Year, Single Family,
	97		6.000%, 04/01/24		106
	132		6.500%, 05/01/22		145
			Federal National Mortgage Association, 30 Year, FHA/VA,
	16		6.000%, 09/01/33		17
	30		6.500%, 03/01/29		34
	7		8.500%, 02/01/30		7
	12		9.000%, 09/01/19 - 12/01/30		12
	7		9.500%, 12/01/18		8
			Federal National Mortgage Association, 30 Year, Single Family,
	89		4.500%, 08/01/33		94
	1,341		5.000%, 07/01/33 - 08/01/40		1,463
	1,038		5.500%, 09/01/33 - 01/01/38		1,135
	699		6.000%, 12/01/32 - 09/01/37		773
	48		6.500%, 08/01/31		54
	7		7.000%, 09/01/27 - 08/01/32		8
	16		7.500%, 11/01/22 - 05/01/25		18
	500		8.000%, 03/01/21 - 11/01/32		598
	9		8.500%, 07/01/24 - 06/01/25		10
	—	(h)	9.000%, 04/01/26		—	(h)
	4		10.000%, 02/01/24		4
	1		12.500%, 01/01/16		1
			Federal National Mortgage Association, Other,
	500		VAR, 0.535%, 01/01/23		501
	494		VAR, 0.555%, 01/01/23		495
	1,000		VAR, 0.575%, 02/01/23		1,001
	988		VAR, 0.585%, 01/01/23		990
	1,000		VAR, 0.669%, 08/01/23		999
	500		Zero Coupon, 09/30/43		350
	969		1.940%, 01/01/17		983
	1,000		2.056%, 01/01/17		1,005
	1,000		2.294%, 12/01/22		922

SEE NOTES TO FINANCIAL STATEMENTS.

84 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — Continued
	500	2.314%, 12/01/22		461
	2,860	2.970%, 11/01/18		2,958
	2,395	3.590%, 12/01/20		2,485
	1,000	3.658%, 10/01/20		1,037
	953	4.000%, 07/01/42		977
	471	4.291%, 06/01/21		504
	1,062	4.298%, 03/01/21		1,129
	1,967	4.380%, 01/01/21 - 04/01/21		2,117
	500	4.390%, 05/01/21		538
	797	4.443%, 04/01/21		853
	938	4.500%, 03/01/20		1,015
	173	5.500%, 04/01/38		182
	209	6.000%, 03/01/37		225
		Government National Mortgage Association II, 30 Year, Single Family,
	466	6.000%, 03/20/28 - 09/20/38		511
	14	7.500%, 02/20/28 - 09/20/28		17
	37	8.000%, 12/20/25 - 08/20/28		44
	23	8.500%, 03/20/25 - 05/20/25		26
		Government National Mortgage Association, 15 Year, Single Family,
	28	6.000%, 10/15/17		29
	8	8.000%, 01/15/16		9
		Government National Mortgage Association, 30 Year, Single Family,
	349	6.000%, 11/15/28 - 12/15/38		389
	339	6.500%, 01/15/24 - 12/15/35		379
	331	7.000%, 08/15/23 - 06/15/35		390
	29	7.500%, 11/15/22 - 09/15/28		33
	6	8.000%, 05/15/22 - 08/15/28		7
	5	8.500%, 11/15/17		5
	10	9.000%, 08/15/16 - 11/15/24		10
	183	9.500%, 09/15/18 - 12/15/25		207
	2	12.000%, 11/15/19		2
		Total Mortgage Pass-Through Securities (Cost $40,819)		41,695
	Supranational — 0.1%
	150	African Development Bank, 8.800%, 09/01/19 (Cost $197)		199
	U.S. Government Agency Securities — 2.8%
	323	Federal Farm Credit Bank, 5.125%, 11/15/18		372
		Federal National Mortgage Association,
	1,300	Zero Coupon, 07/05/14		1,295
	1,000	Zero Coupon, 06/01/17		943
	800	5.000%, 05/11/17		907

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	500	Federal National Mortgage Association STRIPS, 11/15/21		385
		Financing Corp. Fico,
	1,440	Zero Coupon, 05/11/18		1,320
	500	Zero Coupon, 04/05/19		439
	584	Zero Coupon, 09/26/19		504
	1,000	Government Trust Certificate, Zero Coupon, 10/01/15		973
		Residual Funding Corp. STRIPS,
	250	Zero Coupon, 10/15/19		218
	1,750	Zero Coupon, 07/15/20		1,477
	1,000	Tennessee Valley Authority, 5.500%, 07/18/17		1,154
	333	Tennessee Valley Authority STRIPS, Zero Coupon, 05/01/19		289
		Total U.S. Government Agency Securities (Cost $10,103)		10,276
	U.S. Treasury Obligations — 34.6%
		U.S. Treasury Bonds,
	1,225	7.500%, 11/15/16		1,480
	320	8.500%, 02/15/20		447
	250	8.750%, 05/15/20		355
	250	8.750%, 08/15/20		358
	1,500	8.875%, 08/15/17		1,946
	835	11.250%, 02/15/15		967
		U.S. Treasury Bonds STRIPS,
	202	11/15/13		202
	4,566	05/15/14 (m)		4,562
	1,500	08/15/14 (m)		1,498
	3,518	11/15/14 (m)		3,509
	3,325	02/15/15		3,311
	4,952	11/15/15 (m)		4,901
	5,766	02/15/16 (m)		5,683
	1,072	05/15/16		1,053
	2,505	08/15/16		2,447
	700	11/15/16		679
	1,224	02/15/17		1,181
	4,446	08/15/17		4,232
	1,960	11/15/17		1,852
	2,200	02/15/18		2,062
	700	05/15/18		651
	495	05/15/19		444
	4,350	08/15/19		3,869
	2,000	02/15/20		1,744
	13,948	05/15/20		12,043
	150	05/15/20		130
	12,550	08/15/20		10,724

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 85

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — Continued
	2,150	05/15/21		1,776
	1,600	08/15/21		1,307
	2,000	11/15/21		1,615
	425	02/15/22		340
	47	08/15/26		30
	300	11/15/26		192
	53	02/15/28		32
		U.S. Treasury Inflation Indexed Notes,
	1,700	0.500%, 04/15/15		1,875
	700	1.125%, 01/15/21		790
	500	1.250%, 04/15/14		558
	250	2.000%, 01/15/14		319
		U.S. Treasury Notes,
	300	0.250%, 10/31/13		300
	500	0.500%, 10/15/13		500
	593	0.875%, 01/31/18		580
	800	1.000%, 11/30/19		752
	400	1.375%, 12/31/18		393
	5,500	1.500%, 08/31/18		5,473
	1,300	1.750%, 01/31/14		1,309
	1,500	1.750%, 10/31/18		1,507
	500	1.875%, 02/28/14		505
	1,100	1.875%, 04/30/14		1,113
	6,400	1.875%, 08/31/17		6,560
	400	2.000%, 02/15/22		384
	200	2.125%, 08/15/21		196
	1,500	2.250%, 07/31/18		1,548
	350	2.625%, 08/15/20		360
	400	2.625%, 11/15/20		410
	1,500	2.750%, 10/31/13		1,506

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	1,500	2.750%, 11/30/16		1,588
	1,755	2.750%, 05/31/17		1,860
	3,000	2.750%, 12/31/17		3,175
	1,000	3.125%, 04/30/17		1,073
	850	3.125%, 05/15/21		896
	7,900	3.250%, 12/31/16		8,496
	1,000	3.250%, 03/31/17		1,077
	1,050	3.500%, 02/15/18		1,145
	1,550	3.500%, 05/15/20		1,689
	400	3.625%, 02/15/20		439
	450	3.625%, 02/15/21		492
	700	4.000%, 02/15/15		738
	400	4.250%, 11/15/17		448
	200	4.500%, 02/15/16		219
	1,000	4.750%, 08/15/17		1,137
		Total U.S. Treasury Obligations (Cost $125,770)		129,032
SHARES
	Short-Term Investment — 4.7%
		Investment Company — 4.7%
	17,649	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.030% (b) (l) (Cost $17,649)		17,649
		Total Investments — 99.6% (Cost $358,639)		370,854
		Other Assets in Excess of Liabilities — 0.4%		1,594
		NET ASSETS — 100.0%	$	372,448

Percentages indicated are based on net assets.

SEE NOTES TO FINANCIAL STATEMENTS.

86 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

JPMorgan Institutional Trust Funds

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2013 (Unaudited)

ARM	—  Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of August 31, 2013.
CDO	—  Collateralized Debt Obligation
CMBS	—  Commercial Mortgage Backed Security
CMO	—  Collateralized Mortgage Obligation
ESOP	—  Employee Stock Ownership Program
ETF	—  Exchange Traded Fund
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 IOs, 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 August 31, 2013. 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.
REMIC	—  Real Estate Mortgage Investment Conduit
Rev.	—  Revenue
SPDR	—  Standard & Poor’s Depository Receipts
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 August 31, 2013.
VA	—  Veterans Administration
VAR	—  Variable Rate Security. The interest rate shown is the rate in effect as of August 31, 2013.
(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.
(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.
(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 August 31, 2013.
(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 which is a security in the Fund’s index.
(t)	—  The date shown represents the earliest of the prerefunded date, next put date or final maturity date.
(†)	—  Security matures in 2111.
(††)	—  Security matures in 2110.

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 87

STATEMENTS OF ASSETS AND LIABILITIES

AS OF AUGUST 31, 2013 (Unaudited)

(Amounts in thousands, except per share amounts)

	Core Bond Trust		Equity Index Trust			Intermediate Bond Trust
ASSETS:
Investments in non-affiliates, at value	$	3,640,556	$	324,749		$	353,205
Investments in affiliates, at value		91,646		7,398			17,649
Total investment securities, at value		3,732,202		332,147			370,854
Receivables:
Investment securities sold		830		—			54
Fund shares sold		95,200		—			564
Interest and dividends from non-affiliates		16,918		747			1,542
Dividends from affiliates		2		—	(a)		—	(a)
Prepaid expenses and other assets		41		7			5
Total Assets		3,845,193		332,901			373,019
LIABILITIES:
Due to custodian		—		—			1
Payables:
Distributions		306		—			49
Investment securities purchased		36,271		—			350
Fund shares redeemed		1,018		293			70
Variation margin on futures contracts		—		11			—
Unrealized depreciation on unfunded commitments		17		—			—
Accrued liabilities:
Investment advisory fees		416		21			25
Custodian and accounting fees		97		8			41
Trustees’ and Chief Compliance Officer’s fees		2		—			—	(a)
Audit Fees		41		28			35
Other		39		1			—	(a)
Total Liabilities		38,207		362			571
Net Assets	$	3,806,986	$	332,539		$	372,448
NET ASSETS:
Paid-in-Capital	$	3,682,418	$	243,660		$	359,905
Accumulated undistributed (distributions in excess of) net investment income		4,578		1,379			345
Accumulated net realized gains (losses)		44		(48,518	)		(17	)
Net unrealized appreciation (depreciation)		119,946		136,018			12,215
Total Net Assets	$	3,806,986	$	332,539		$	372,448
Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		363,464		16,827			35,957
Net asset value, offering and redemption price per share (b)	$	10.47	$	19.76		$	10.36
Cost of investments in non-affiliates	$	3,520,593	$	190,044		$	340,990
Cost of investments in affiliates		91,646		6,127			17,649

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

(b) Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding.

SEE NOTES TO FINANCIAL STATEMENTS.

88 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

STATEMENTS OF OPERATIONS

FOR THE SIX MONTHS ENDED AUGUST 31, 2013 (Unaudited)

(Amounts in thousands)

	Core Bond Trust			Equity Index Trust			Intermediate Bond Trust
INVESTMENT INCOME:
Interest income from non-affiliates	$	70,343		$	—		$	5,899
Dividend income from non-affiliates		—			3,475			—
Dividend income from affiliates		23			60			2
Total investment income		70,366			3,535			5,901
EXPENSES:
Investment advisory fees		5,671			422			561
Administration fees		1,890			169			187
Custodian and accounting fees		180			20			69
Professional fees		45			24			31
Trustees’ and Chief Compliance Officer’s fees		21			2			2
Printing and mailing costs		13			1			1
Transfer agent fees		—			—			1
Other		61			7			8
Total expenses		7,881			645			860
Less amounts waived		(5,139	)		(478	)		(588	)
Net expenses		2,742			167			272
Net investment income (loss)		67,624			3,368			5,629
REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on transactions from:
Investments in non-affiliates		2,309			4,350			220
Investment in affiliates		—			50			—
Futures		—			365			—
Net realized gain (loss)		2,309			4,765			220
Change in net unrealized appreciation/depreciation of:
Investments in non-affiliates		(152,628	)		20,192			(11,461	)
Investments in affiliates		—			96			—
Futures		—			(123	)		—
Unfunded commitments		(17	)		—			—
Change in net unrealized appreciation/depreciation		(152,645	)		20,165			(11,461	)
Net realized/unrealized gains (losses)		(150,336	)		24,930			(11,241	)
Change in net assets resulting from operations	$	(82,712	)	$	28,298		$	(5,612	)

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 89

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE PERIODS INDICATED

(Amounts in thousands)

	Core Bond Trust						Equity Index Trust						Intermediate Bond Trust
	Six Months Ended 8/31/2013 (Unaudited)			Year Ended 2/28/2013			Six Months Ended 8/31/2013 (Unaudited)			Year Ended 2/28/2013			Six Months Ended 8/31/2013 (Unaudited)			Year Ended 2/28/2013
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	67,624		$	143,453		$	3,368		$	6,749		$	5,629		$	12,548
Net realized gain (loss)		2,309			(2,198	)		4,765			3,217			220			(237	)
Change in net unrealized appreciation/depreciation		(152,645	)		23,835			20,165			28,893			(11,461	)		1,337
Change in net assets resulting from operations		(82,712	)		165,090			28,298			38,859			(5,612	)		13,648
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income		(65,667	)		(140,546	)		(3,123	)		(6,817	)		(5,653	)		(12,120	)
From net realized gains		—			(2,200	)		—			—			—			—
Total distributions to shareholders		(65,667	)		(142,746	)		(3,123	)		(6,817	)		(5,653	)		(12,120	)
CAPITAL TRANSACTIONS:
Proceeds from shares issued		327,565			595,889			4,500			27,753			23,387			42,769
Subscriptions in-kind (See Note 7)		—			37,169			—			—			—			—
Distributions reinvested		63,911			139,355			3,123			6,805			5,265			11,611
Cost of shares redeemed		(149,879	)		(539,310	)		(23,594	)		(44,363	)		(22,890	)		(39,262	)
Change in net assets resulting from capital transactions		241,597			233,103			(15,971	)		(9,805	)		5,762			15,118
NET ASSETS:
Change in net assets		93,218			255,447			9,204			22,237			(5,503	)		16,646
Beginning of period		3,713,768			3,458,321			323,335			301,098			377,951			361,305
End of period	$	3,806,986		$	3,713,768		$	332,539		$	323,335		$	372,448		$	377,951
Accumulated undistributed (distributions in excess of) net investment income	$	4,578		$	2,621		$	1,379		$	1,134		$	345		$	369
SHARE TRANSACTIONS:
Issued		30,561			54,513			230			1,641			2,234			3,984
Subscriptions in-kind (See Note 7)		—			3,372			—			—			—			—
Reinvested		5,982			12,760			161			401			501			1,085
Redeemed		(14,010	)		(49,289	)		(1,212	)		(2,605	)		(2,166	)		(3,666	)
Change in Shares		22,533			21,356			(821	)		(563	)		569			1,403

SEE NOTES TO FINANCIAL STATEMENTS.

90 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

THIS PAGE IS INTENTIONALLY LEFT BLANK

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 91

FINANCIAL HIGHLIGHTS

FOR THE PERIODS INDICATED

	Per share operating performance
			Investment operations								Distributions
	Net asset value, beginning of period		Net investment income (loss)		Net realized and unrealized gains (losses) on investments			Total from investment operations			Net investment income			Net realized gain			Return of capital			Total distributions
Core Bond Trust
Six Months Ended August 31, 2013 (Unaudited)	$	10.89	$	0.19	$	(0.42	)	$	(0.23	)	$	(0.19	)	$	—		$	—		$	(0.19	)
Year Ended February 28, 2013		10.82		0.43		0.08			0.51			(0.43	)		(0.01	)		—			(0.44	)
Year Ended February 29, 2012		10.50		0.50		0.35			0.85			(0.51	)		(0.02	)		—			(0.53	)
Year Ended February 28, 2011		10.27		0.55		0.23			0.78			(0.55	)		—			—			(0.55	)
Year Ended February 28, 2010		9.53		0.63		0.74			1.37			(0.63	)		—			—			(0.63	)
Year Ended February 28, 2009		10.09		0.55		(0.56	)		(0.01	)		(0.55	)		—			—			(0.55	)
Equity Index Trust
Six Months Ended August 31, 2013 (Unaudited)		18.32		0.20		1.42			1.62			(0.18	)		—			—			(0.18	)
Year Ended February 28, 2013		16.53		0.38		1.79			2.17			(0.38	)		—			—			(0.38	)
Year Ended February 29, 2012		16.10		0.31		0.46			0.77			(0.34	)		—			—			(0.34	)
Year Ended February 28, 2011		13.42		0.28		2.67			2.95			(0.27	)		—			—			(0.27	)
Year Ended February 28, 2010		8.98		0.30		4.44			4.74			(0.30	)		—			—			(0.30	)
Year Ended February 28, 2009		16.27		0.33		(7.28	)		(6.95	)		(0.30	)		(0.04	)		—			(0.34	)
Intermediate Bond Trust
Six Months Ended August 31, 2013 (Unaudited)		10.68		0.16		(0.32	)		(0.16	)		(0.16	)		—			—			(0.16	)
Year Ended February 28, 2013		10.63		0.36		0.04			0.40			(0.35	)		—			—			(0.35	)
Year Ended February 29, 2012		10.38		0.43		0.38			0.81			(0.47	)		(0.06	)		(0.03	)		(0.56	)
Year Ended February 28, 2011		10.28		0.48		0.10			0.58			(0.48	)		—			—			(0.48	)
Year Ended February 28, 2010		9.70		0.53		0.58			1.11			(0.53	)		—			—			(0.53	)
Year Ended February 28, 2009		10.08		0.50		(0.38	)		0.12			(0.50	)		—			—			(0.50	)

(a) Annualized for periods less than one year.

(b) Not annualized for periods less than one year.

(c) Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions.

(d) Includes earnings credits and interest expense, if applicable, each of which is less than 0.01% unless otherwise noted.

(e) Portfolio turnover is calculated by dividing the lesser of total purchases or sales of portfolio securities for the reporting period by the monthly average value of portfolio securities owned during the reporting period. Excluded from both the numerator and denominator are amounts relating to derivatives and securities whose maturities or expiration dates at the time of acquisition were one year or less.

SEE NOTES TO FINANCIAL STATEMENTS.

92 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

		Ratios/Supplemental data
							Ratios to average net assets (a)
Net asset value, end of period		Total return (b)(c)			Net assets, end of period (000’s)		Net expenses (d)			Net investment income (loss)			Expenses without waivers, reimbursements and earnings credits			Portfolio turnover rate (b)(e)
$	10.47		(2.15	)%	$	3,806,986		0.15	%		3.58	%		0.42	%		9	%
	10.89		4.70			3,713,768		0.15			3.97			0.42			16
	10.82		8.24			3,458,321		0.15			4.66			0.42			21
	10.50		7.71			3,022,640		0.14			5.23			0.42			20
	10.27		14.70			2,808,694		0.14			6.24			0.42			19
	9.53		(0.06	)		2,367,508		0.15			5.60			0.44			13
	19.76		8.89			332,539		0.10			1.99			0.38			1
	18.32		13.34			323,335		0.10			2.22			0.38			7
	16.53		4.97			301,098		0.10			2.03			0.38			8
	16.10		22.38			341,196		0.10			1.95			0.40			13
	13.42		53.50			304,822		0.10			2.37			0.42			18
	8.98		(43.42	)		243,919		0.10			2.43			0.41			14
	10.36		(1.50	)		372,448		0.15			3.01			0.46			7
	10.68		3.76			377,951		0.14			3.33			0.47			15
	10.63		7.98			361,305		0.14			4.05			0.48			35
	10.38		5.72			366,920		0.14			4.60			0.46			28
	10.28		11.72			359,197		0.15			5.33			0.47			23
	9.70		1.29			287,529		0.15			5.07			0.49			11

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 93

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2013 (Unaudited)

1. Organization

JPMorgan Institutional Trust (the “Trust”) was organized on September 14, 2004 as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. Three separate diversified series of the Trust (collectively, the “Funds”) covered by this report commenced operations on February 7, 2005: Core Bond Trust, Equity Index Trust and Intermediate Bond Trust.

The investment objective of Core Bond Trust is to seek to maximize total return by investing primarily in a diversified portfolio of intermediate- and long-term debt securities.

The investment objective of Equity Index Trust is to seek investment results that correspond to the aggregate price and dividend performance of securities in the Standard and Poor’s 500 Composite Stock Price Index.

The investment objective of Intermediate Bond Trust is to seek current income consistent with the preservation of capital by investing in high- and medium-grade fixed income securities with intermediate maturities.

2. Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements. The policies are in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

A. Valuation of Investments — 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 pricing services or broker-dealers use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services or broker-dealers 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 pricing services or broker-dealers also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics 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 Funds 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 fair value. Investments in open-end investment companies are valued at each investment company’s net asset value per share (“NAV”) as of the report date.

Certain investments of the Funds 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 Funds to value these 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 pricing services or values received are deemed not representative of fair value, values will be obtained from a third party broker-dealer or counterparty.

Securities or other assets for which market quotations are not readily available or for which market quotations are deemed to 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 Funds’ 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. (the “Advisor” or “JPMIM”) and J.P. Morgan Asset Management’s Legal, Compliance and Risk Management groups and the Funds’ 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 Funds’ valuation policies.

The VC or Board of Trustees, as applicable, primarily employs 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

94 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

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.

See the table on “Quantitative Information about Level 3 Fair Value Measurements” for information on the valuation techniques and inputs used to value Level 3 securities held by Core Bond Trust and Intermediate Bond Trust at August 31, 2013.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market 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 Funds’ investments are summarized into the three broad levels listed below:

Ÿ Level 1 — quoted prices in active markets for identical securities

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

Ÿ Level 3 — significant unobservable inputs (including the Funds’ 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 tables represent each valuation input by sector as presented on the Schedules of Portfolio Investments (“SOIs”) (amounts in thousands):

Core Bond Trust

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	120,160	$	71,906	$	192,066
Collateralized Mortgage Obligations
Agency CMO		—		635,564		10,933		646,497
Non-Agency CMO		—		286,303		56,727		343,030
Total Collateralized Mortgage Obligations		—		921,867		67,660		989,527
Commercial Mortgage-Backed Securities		—		120,385		20,437		140,822
Corporate Bonds
Consumer Discretionary		—		49,314		—		49,314
Consumer Staples		—		34,750		—		34,750
Energy		—		56,121		—		56,121
Financials		—		327,727		—		327,727
Health Care		—		20,591		—		20,591
Industrials		—		40,108		2,306		42,414
Information Technology		—		40,860		—		40,860
Materials		—		17,598		—		17,598
Telecommunication Services		—		40,530		—		40,530
Utilities		—		62,680		—		62,680
Total Corporate Bonds		—		690,279		2,306		692,585
Foreign Government Securities		—		39,818		—		39,818
Mortgage Pass-Through Securities		—		559,559		2,484		562,043
Municipal Bonds		—		8,567		—		8,567
Supranational		—		4,654		—		4,654
U.S. Government Agency Securities		—		82,857		—		82,857
U.S. Treasury Obligations		—		919,141		—		919,141
Loan Assignments
Financials		—		—		8,476		8,476

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 95

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

Core Bond Trust (continued)
	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Short-Term Investment
Investment Company	$	91,646	$	—	$	—	$	91,646
Total Investments in Securities	$	91,646	$	3,467,287	$	173,269	$	3,732,202

Equity Index Trust

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Total Investments in Securities (a)	$	331,822	$	325	$	—	$	332,147
Appreciation in Other Financial Instruments
Futures Contracts	$	42	$	—	$	—	$	42

Intermediate Bond Trust

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	11,520	$	2,743	$	14,263
Collateralized Mortgage Obligations
Agency CMO		—		66,186		622		66,808
Non-Agency CMO		—		15,473		1,056		16,529
Total Collateralized Mortgage Obligations		—		81,659		1,678		83,337
Commercial Mortgage-Backed Securities		—		5,775		1,279		7,054
Corporate Bonds
Consumer Discretionary		—		3,534		—		3,534
Consumer Staples		—		2,532		—		2,532
Energy		—		4,396		—		4,396
Financials		—		36,162		—		36,162
Health Care		—		1,733		—		1,733
Industrials		—		3,050		707		3,757
Information Technology		—		3,539		—		3,539
Materials		—		1,503		—		1,503
Telecommunication Services		—		2,936		—		2,936
Utilities		—		4,293		—		4,293
Total Corporate Bonds		—		63,678		707		64,385
Foreign Government Securities		—		2,964		—		2,964
Mortgage Pass-Through Securities		—		41,695		—		41,695
Supranational		—		199		—		199
U.S. Government Agency Securities		—		10,276		—		10,276
U.S. Treasury Obligations		—		129,032		—		129,032
Short-Term Investment
Investment Company		17,649		—		—		17,649
Total Investments in Securities	$	17,649	$	346,798	$	6,407	$	370,854

(a) Portfolio holdings designated as Level 1 and Level 2 are disclosed individually on 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.

For each of the Funds, there were no transfers between Levels 1 and 2 during the six months ended August 31, 2013.

96 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

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 02/28/13		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 08/31/13
Investments in Securities
Asset-Backed Securities	$	60,762	$	(209	)	$	(190	)	$	52		$	29,486	$	(27,455	)	$	9,460	$	—		$	71,906
Collateralized Mortgage Obligations
Agency CMO		27,817		(187	)		(1,420	)		(1,100	)		1,941		(6	)		3,202		(19,314	)		10,933
Non-Agency CMO		48,208		—	(a)		(3,410	)		(1,950	)		15,629		(7,222	)		26,436		(20,964	)		56,727
Commercial Mortgage-Backed Securities		30,371		—			(188	)		(624	)		389		(5,822	)		—		(3,689	)		20,437
Corporate Bonds
Industrials		3,316		41			(113	)		(1	)		441		(750	)		—		(628	)		2,306
Telecommunications Services		1,884		—			—			—			—		—			—		(1,884	)		—
Loan Assignments — Financials		—		—			(43	)		—			8,541		(22	)		—		—			8,476
Mortgage Pass-Through Securities		11,987		—			(40	)		—			2,509		(11,972	)		—		—			2,484
	$	184,345	$	(355	)	$	(5,404	)	$	(3,623	)	$	58,936	$	(53,249	)	$	39,098	$	(46,479	)	$	173,269

Intermediate Bond Trust	Balance as of 02/28/13		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 08/31/13
Investments in Securities
Asset-Backed Securities	$	3,593	$	—	(a)	$	(12	)	$	1		$	505	$	(1,706	)	$	362	$	—		$	2,743
Collateralized Mortgage Obligations
Agency CMO		1,369		(44	)		(66	)		(27	)		10		(15	)		166		(771	)		622
Non-Agency CMO		1,084		—			(5	)		(5	)		522		(205	)		534		(869	)		1,056
Commercial Mortgage-Backed Securities		1,466		—			(1	)		(11	)		249		(189	)		—		(235	)		1,279
Corporate Bonds — Industrials		901		5			(34	)		(2	)		—		(87	)		—		(76	)		707
Mortgage Pass-Through Securities		499		—			—			—			—		(499	)		—		—			—
Total	$	8,912	$	(39	)	$	(118	)	$	(44	)	$	1,286	$	(2,701	)	$	1,062	$	(1,951	)	$	6,407

(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 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), respectively, which resulted in a lack of or increase in available market inputs to determine price.

The changes in net unrealized appreciation (depreciation) attributable to securities owned at August 31, 2013, which were valued using significant unobservable inputs (Level 3) were as follows (amounts in thousands):

	Value
Core Bond Trust	$	(5,514	)
Intermediate Bond Trust		(154	)

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 97

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

These amounts are included in Change in net unrealized appreciation (depreciation) of investments in non-affiliates on the Statements of Operations.

Core Bond Trust

Quantitative Information about Level 3 Fair Value Measurements #

(amounts in thousands)

	Fair Value at 8/31/13	Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
	$88,610	Discounted Cash Flow	Constant Prepayment Rate		0% - 100.00%(9.83%)
			Constant Default Rate		0% - 14.78%(2.37%)
			PSA Prepayment Model		133.00% - 970.00%(428.99%)
			Yield (Discount Rate of Cash Flows)		(0.40%) - 7.22%(0.08%)
Asset-Backed Securities	88,610
Total	$88,610

# The table above does not include Level 3 securities that are valued by brokers and pricing services. At August 31, 2013, the value of these securities was approximately $84,659,000. The inputs for these securities are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2.A. The appropriateness of fair values for these securities is monitored on an ongoing basis which may include results of back testing, unchanged price review, results of broker and vendor due diligence and consideration of macro or security specific events.

The significant unobservable inputs used in the fair value measurement of the Fund’s investments are listed above. Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. The impact is based on the relationship between each unobservable input and the fair value measurement. Significant increases (decreases) in the yield and default rate may decrease (increase) the fair value measurement. A significant change in the prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

Intermediate Bond Trust

Quantitative Information about Level 3 Fair Value Measurements #

(amounts in thousands)

	Fair Value at 8/31/13	Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
	$3,190	Discounted Cash Flow	Constant Prepayment Rate		0% - 100.00%(6.34%)
			Constant Default Rate		0% - 12.00%(1.61%)
			PSA Prepayment Model		185.00% - 1,085.00%(365.45%)
			Yield (Discount Rate of Cash Flows)		(6.47%) - 29.85%(4.51%)
Asset-Backed Securities	3,190
Total	$3,190

# The table above does not include Level 3 securities that are valued by brokers and pricing services. At August 31, 2013, the value of these securities was approximately $3,217,000. The inputs for these securities are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2.A. The appropriateness of fair values for these securities is monitored on an ongoing basis which may include results of back testing, unchanged price review, results of broker and vendor due diligence and consideration of macro or security specific events.

The significant unobservable inputs used in the fair value measurement of the Fund’s investments are listed above. Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. The impact is based on the relationship between each unobservable input and the fair value measurement. Significant increases (decreases) in the yield and default rate may decrease (increase) the fair value measurement. A significant change in the prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

B. Restricted and Illiquid Securities — Certain securities held by the Funds may be subject to legal or contractual restrictions on resale and/or are illiquid. Restricted securities generally are resold in transactions exempt from registration under the Securities Act of 1933 (the “Securities Act”). Illiquid securities are securities which cannot be disposed of promptly (within seven days) and in the usual course of business at approximately their fair value and includes, but are not limited to, repurchase agreements maturing in excess of seven days, time deposits with a withdrawal penalty, non-negotiable instruments and instruments for which no market exists. Disposal of these securities may involve time-consuming negotiations and

98 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

expense. Prompt sale at the current valuation may be difficult and could adversely affect the net assets of the Funds. As of August 31, 2013, the Funds had no investments in restricted securities other than securities sold to the Funds under Rule 144A under the Securities Act.

The following are the value and percentage of net assets of illiquid securities as of August 31, 2013 (amounts in thousands):

	Value		Percentage
Core Bond Trust	$	38,448		1.01	%
Intermediate Bond Trust		881		0.24

C. Loan Assignments — Core Bond Trust invests in loan assignments of all or a portion of the loans. When the Fund purchases a loan assignment the Fund has direct rights against the borrower on a loan provided, however, that the Fund’s rights may be more limited than the lender from which it acquired the assignment and the Fund may be able to enforce its rights only through an administrative agent. As a result, the Fund assumes the credit risk of the Borrower (“Intermediate Participants”) and any other persons interpositioned between the Fund and the Borrower. Although certain loan assignments are secured by collateral, the Fund could experience delays or limitations in realizing on such collateral or have their interest subordinated to other indebtedness of the obligor. In addition, loan assignments are vulnerable to market conditions such that economic conditions or other events may reduce the demand for assignments and certain assignments which were liquid, when purchased, may become illiquid.

D. Unfunded Commitments — Core Bond Trust may enter into commitments to buy and sell investments including commitments to buy loan assignments to settle on future dates as part of their normal investment activities. Unfunded commitments may include revolving loan facilities which may obligate the Fund to provide cash to the borrower on demand. Commitments are generally traded and priced as part of a related loan assignment (Note 2.C.). The value of the unfunded portion of the investment is determined using a pro-rata allocation, based on its par value relative to the par value of the entire investment. The unrealized appreciation (depreciation) from unfunded commitments is reported in the Statements of Assets and Liabilities. The Fund segregates security positions such that sufficient liquid assets will be available for the commitments on a future date. Credit risk exists on these commitments to the extent of any difference between the sales price and current value of the underlying securities sold. Market risk exists on these commitments to buy to the same extent as if the securities were owned on a settled basis and gains and losses are recorded and reported in the same manner. The Fund may receive an ongoing commitment fee based on the undrawn portion of the underlying of loan facility, which is recorded as a component of interest income on the Statements of Operations.

At August 31, 2013, Core Bond Trust had the following unfunded loan commitments which could be extended at the option of the borrower (amounts in thousands):

	Term	Maturity Date		Commitment Fee Rate			Rate if Funded			Par Value		Commitment
Security Description												Amount		Value
FiveTen Group, Ltd. (i)	Revolving Loan		04/14/14		0.500	%		4.250	%	$	1,634	$	1,634	$	1,626
Invitation Homes (i)	Revolving Loan		03/15/15		0.500			3.750			485		485		483
Tricon Capital Group, Inc. (i)	Revolving Loan		06/13/15		0.500			4.100			1,362		1,362		1,355
												$	3,481	$	3,464

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

E. Futures Contracts — Equity Index Trust uses index futures contracts to gain or reduce exposure to its index, maintain liquidity and minimize transaction costs. The Fund also buys futures contracts to immediately invest incoming cash in the market or sells futures in response to cash outflows, thereby simulating an invested position in the underlying index while maintaining a cash balance for liquidity. The use of futures contracts exposes the Fund to equity price risk.

Futures contracts provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Fund periodically and are based on changes in the market value of open futures contracts. Changes in the market value of open futures contracts are recorded as unrealized appreciation or depreciation in the Statements of Operations. Realized gains or losses, representing the difference between the value of the contract at the time it was opened and the value at the time it was closed, are reported in the Statements of Operations at the closing or expiration of the futures contract. Securities deposited as initial margin are designated in the SOI and cash deposited is recorded on the Statements of Assets and Liabilities. A receivable from and/or a payable to brokers for the daily variation margin is also recorded on the Statements of Assets and Liabilities.

The Fund may be subject to the risk that the change in the value of the futures contract may not correlate perfectly with the underlying instrument. Use of long futures contracts subjects the Fund to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional amount of the futures contracts. Use of short futures contracts subjects the Fund to unlimited risk of loss. The Fund may enter into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, the Fund’s credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent timely liquidation of positions.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 99

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

The table below discloses the volume of the Fund’s futures contracts activity during the six months ended August 31, 2013 (amounts in thousands):

	Equity Index Trust
Futures Contracts:
Average Notional Balance Long	$	2,805
Ending Notional Balance Long		3,099

F. Investment Transactions with Affiliates — An issuer which is under common control with the Funds may be considered an affiliate. For the purposes of the report, the Funds assume the following to be affiliated issuers (amounts in thousands):

	For the six months ended August 31, 2013
Affiliate	Value at February 28, 2013		Purchase Cost		Sales Proceeds		Realized Gain/Loss		Dividend/ Interest Income		Shares at August 31, 2013		Value at August 31, 2013
Core Bond Trust
JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares	$	82,653	$	368,536	$	359,543	$	—	$	23		91,646	$	91,646
Equity Index Trust
JPMorgan Chase & Co. (common stock)*	$	4,377	$	30	$	238	$	50	$	59		85	$	4,315
JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares		2,385		13,003		12,305		—		1		3,083		3,083
	$	6,762	$	13,033	$	12,543	$	50	$	60		3,168	$	7,398
Intermediate Bond Trust
JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares	$	7,515	$	45,371	$	35,237	$	—	$	2		17,649	$	17,649

* Investment in affiliate which is a security in the Fund’s index.

G. Security Transactions and Investment Income — Investment transactions are accounted for on the trade date (the date the order to buy or sell is executed). Securities gains and losses are calculated on a specifically identified cost basis. Interest income is determined on the basis of coupon interest accrued using the effective interest method which adjusts for amortization of premiums and accretion of discounts. Dividend income, net of foreign taxes withheld, if any, is recorded on the ex-dividend date or when a Fund first learns of the dividend.

H. Allocation of Expenses — Expenses directly attributable to a fund are charged directly to that fund, while the expenses attributable to more than one fund of the Trust are allocated among the respective funds.

I. Federal Income Taxes — Each Fund is treated as a separate taxable entity for Federal income tax purposes. Each Fund’s policy is to comply with the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), applicable to regulated investment companies and to distribute to shareholders all of its distributable net investment income and net realized gain on investments. Accordingly, no provision for Federal income tax is necessary. Management has reviewed the Funds’ tax positions for all open tax years and has determined that as of August 31, 2013, no liability for income tax is required in the Funds’ financial statements for net unrecognized tax benefits. However, management’s conclusions may be subject to future review based on changes in, or the interpretation of, the accounting standards or tax laws and regulations. Each of the Fund’s Federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

J. Distributions to Shareholders — Distributions from net investment income are generally declared and paid monthly for Core Bond Trust and Intermediate Bond Trust, and declared and paid quarterly for Equity Index Trust. Net realized capital gains, if any, are distributed by each Fund at least annually. The amount of distributions from net investment income and net realized capital gains is determined in accordance with Federal income tax regulations, which may differ from GAAP. To the extent these “book/tax” differences are permanent in nature (i.e., that they result from other than timing of recognition — “temporary differences”), such amounts are reclassified within the capital accounts based on their Federal tax-basis treatment.

3. Fees and Other Transactions with Affiliates

A. Investment Advisory Fee — Pursuant to the Investment Advisory Agreement, the Advisor supervises the investments of each Fund and for such services is paid a fee. The fee is accrued daily and paid monthly based on each Fund’s respective average daily net assets. The annual rate for each Fund is as follows:

Core Bond Trust	0.30	%
Equity Index Trust	0.25
Intermediate Bond Trust	0.30

100 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

The Advisor waived Investment Advisory fees and/or reimbursed expenses as outlined in Note 3.E.

B. Administration Fee — Pursuant to an Administration Agreement, the Administrator provides certain administration services to the Funds. In consideration of these services, the Administrator receives a fee accrued daily and paid monthly at an annualized rate of 0.10% of the Funds’ average daily net assets, notwithstanding any fee waivers and/or expense reimbursements.

The Administrator waived Administration fees as outlined in Note 3.E.

JPMorgan Chase Bank, N.A. (“JPMCB”), a wholly-owned subsidiary of JPMorgan, serves as the Funds’ sub-administrator (the “Sub-administrator”). For its services as Sub-administrator, JPMCB receives a portion of the fees payable to the Administrator.

C. Custodian and Accounting Fees — JPMCB provides portfolio custody and accounting services to the Funds. The amounts paid directly to JPMCB by the Funds for custody and accounting services are included in Custodian and accounting fees in the Statements of Operations. Payments to the custodian may be reduced by credits earned by each Fund, based on uninvested cash balances held by the custodian. Such earnings credits, if any, are presented separately in the Statements of Operations.

Interest expense, if any, paid to the custodian related to cash overdrafts is included in Interest expense to affiliates in the Statements of Operations.

D. Placement Agent — J.P. Morgan Institutional Investments, Inc. (the “Placement Agent”), a registered broker-dealer affiliated with the Advisor, serves as the Funds’ Placement Agent. The Placement Agent processes subscriptions for shares and provides various sales support activities in connection with the Funds’ private placement of its shares.

E. Waivers and Reimbursements — The Advisor and Administrator have contractually agreed to waive fees and/or reimburse the Funds to the extent that total annual operating expenses (excluding acquired fund fees and expenses, dividend expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, extraordinary expenses and expenses related to the Board of Trustees’ deferred compensation plan) exceed the percentages of the Funds’ respective average daily net assets as shown in the table below:

Core Bond Trust	0.15	%
Equity Index Trust	0.10
Intermediate Bond Trust	0.15

The expense limitation agreements were in effect for the six months ended August 31, 2013. The contractual expense limitation percentages in the table above are in place until at least June 30, 2014.

For the six months ended August 31, 2013, the Funds’ service providers waived fees and/or reimbursed expenses for each of the Funds as follows (amounts in thousands). None of these parties expect the Funds to repay any such waived fees and reimbursed expenses in future years.

	Contractual Waivers
	Investment Advisory		Administration		Total
Core Bond Trust	$	3,156	$	1,890	$	5,046
Equity Index Trust		307		169		476
Intermediate Bond Trust		392		187		579

Additionally, the Funds may invest in one or more money market funds advised by the Advisor or its affiliates. The Advisor and Administrator waive fees in an amount sufficient to offset the respective fees each charges to the affiliated money market fund on the Funds’ investment in such affiliated money market fund. A portion of the waiver is voluntary.

The amounts of waivers resulting from investments in these money market funds for the six months ended August 31, 2013 were as follows (amounts in thousands):

Core Bond Trust	$	93
Equity Index Trust		2
Intermediate Bond Trust		9

F. Other — Certain officers of the Trust are affiliated with the Advisor and Administrator. Such officers, with the exception of the Chief Compliance Officer, receive no compensation from the Funds for serving in their respective roles.

The Board of Trustees appointed a Chief Compliance Officer to the Funds in accordance with Federal securities regulations. Each Fund, along with other affiliated funds, makes reimbursement payments, on a pro-rata basis, to the Administrator for a portion of the fees associated with the Office of the Chief Compliance Officer. Such fees are included in Trustees’ and Chief Compliance Officer’s fees in the Statements of Operations.

The Trust adopted a Trustee Deferred Compensation Plan (“the Plan”) which allows the Independent Trustees to defer the receipt of all or a portion of compensation related to performance of their duties as Trustees. The deferred fees are invested in various J.P. Morgan Funds until distribution in accordance with the Plan.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 101

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2013 (Unaudited) (continued)

During the six months ended August 31, 2013, the Funds purchased securities from an underwriting syndicate in which the principal underwriter or members of the syndicate are affiliated with the Advisor.

The Funds may use related party broker-dealers. For the six months ended August 31, 2013, the Funds did not incur any brokerage commissions with broker-dealers affiliated with the Advisor.

The Securities and Exchange Commission has granted an exemptive order permitting the Funds to engage in principal transactions with J.P. Morgan Securities, Inc., an affiliated broker, involving taxable money market instruments, subject to certain conditions.

4. Investment Transactions

During the six months ended August 31, 2013, purchases and sales of investments (excluding short-term investments) were as follows (amounts in thousands):

	Purchases (excluding U.S. Government)		Sales (excluding U.S. Government)		Purchases of U.S. Government		Sales of U.S. Government
Core Bond Trust	$	436,172	$	305,042	$	56,295	$	20,989
Equity Index Trust		3,791		18,829		—		—
Intermediate Bond Trust		21,894		25,873		3,176		2,827

5. Federal Income Tax Matters

For Federal income tax purposes, the cost and unrealized appreciation (depreciation) in value of investment securities held at August 31, 2013 were as follows (amounts in thousands):

	Aggregate Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Net Unrealized Appreciation (Depreciation)
Core Bond Trust	$	3,612,239	$	173,064	$	53,101	$	119,963
Equity Index Trust		196,171		138,998		3,022		135,976
Intermediate Bond Trust		358,639		14,529		2,314		12,215

Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), net capital losses recognized by the Funds after February 28, 2011 are carried forward indefinitely, and retain their character as short-term and/or long-term losses. Prior to the Act, net capital losses incurred by the Funds were carried forward for eight years and treated as short-term losses. The Act requires that post-enactment net capital losses be used before pre-enactment net capital losses.

At February 28, 2013, the following Funds had post-enactment net capital loss carryforwards (amounts in thousands):

	Capital Loss Carryforward Character Long-Term
Core Bond Trust	$	1,037
Equity Index Trust		1,912
Intermediate Bond Trust		238

At February 28, 2013, the following Funds had pre-enactment net capital loss carryforwards, expiring during the year indicated, which are available to offset future realized gains (amounts in thousands):

	2017		2018		2019		Total
Equity Index Trust	$	9,624	$	14,260	$	7,018	$	30,902

6. Risks, Concentrations and Indemnifications

In the normal course of business, the Funds enter into contracts that contain a variety of representations which provide general indemnifications. Each Fund’s maximum exposure under these arrangements is unknown. The amount of exposure would depend on future claims that may be made against each Fund that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

Shares of the Funds are offered only to certain clients of the Funds’ investment advisor or its affiliates who maintain one or more separately managed private accounts. One or more affiliates of the Advisor have investment discretion with respect to their clients’ holdings in the Funds, which collectively represent a significant portion of the Fund’s assets for each of the Core Bond Trust, Equity Index Trust and Intermediate Bond Trust.

102 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

Exchange Traded Funds may use derivative instruments in connection with their individual investment strategies including futures contracts, forward foreign currency exchange contracts, options, swaps and other derivatives, which are also subject to specific risks related to their structure, sector or market and may be riskier than investments in securities.

Risks applicable only to Core Bond Trust and Intermediate Bond Trust:

The Funds are subject to interest rate and credit risk. The value of debt securities may decline as interest rates increase. The Funds could lose money if the issuer of a fixed income security is unable to pay interest or repay principal when it is due. The ability of the issuers of debt to meet their obligations may be affected by the economic and political developments in a specific industry or region.

The Funds are subject to risks associated with securities with contractual cash flows including asset-backed and mortgage-related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities, including securities backed by sub-prime mortgage loans. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates. A significant portion of the Funds’ investments is comprised of asset-backed or mortgage-related securities, including securities backed by sub-prime mortgages.

The Funds are subject to the risk that should the Funds decide to sell an illiquid investment when a ready buyer is not available at a price the Funds deem representative of its value, the value of the Funds’ net assets could be adversely affected.

7. Transfers-In-Kind

During the year ended February 28, 2013, certain shareholders of Core Bond Trust purchased shares and Core Bond Trust received portfolio securities primarily by means of a subscription in-kind in exchange for shares of the Fund. Cash and portfolio securities were transferred as of the close of business on the dates and at the market values listed below (amounts in thousands):

Date	Market Value		Type
November 28, 2012	$	31,680		Subscription-in-kind
November 29, 2012		5,489		Subscription-in-kind

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 103

SCHEDULE OF SHAREHOLDER EXPENSES

(Unaudited)

Hypothetical $1,000 Investment

As a shareholder of the Funds, you incur ongoing costs, including investment advisory fees, administration fees, and other Fund expenses. The examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these ongoing costs with the ongoing costs of investing in other mutual funds. The examples assume that you had a $1,000 investment in the Funds at the beginning of the reporting period, March 1, 2013, and continued to hold your shares at the end of the reporting period, August 31, 2013.

Actual Expenses

For each Fund in the table below, the first line provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line of each Fund under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of each Fund in the table below provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Funds’ actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs or the costs associated with the investment advisory accounts through which the Fund is held. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher. The examples also assume all dividends and distributions have been reinvested.

	Beginning Account Value, March 1, 2013		Ending Account Value August 31, 2013		Expenses Paid During the Period*		Annualized Expense Ratio
Core Bond Trust
Actual	$	1,000.00	$	978.50	$	0.75		0.15	%
Hypothetical		1,000.00		1,024.45		0.77		0.15
Equity Index Trust
Actual		1,000.00		1,088.90		0.53		0.10
Hypothetical		1,000.00		1,024.70		0.51		0.10
Intermediate Bond Trust
Actual		1,000.00		985.00		0.75		0.15
Hypothetical		1,000.00		1,024.45		0.77		0.15

* Expenses are equal to each Fund’s respective annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

104 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

BOARD APPROVAL OF INVESTMENT ADVISORY AGREEMENTS

(Unaudited)

The Board of Trustees meets regularly throughout the year and considers factors that are relevant to its annual consideration of investment advisory agreements at each meeting. The Board of Trustees has established various standing committees, composed of Trustees with diverse backgrounds, to which the Board of Trustees has assigned specific subject matter responsibilities to further enhance the effectiveness of the Board’s oversight and decision making. The Board of Trustees and its investment committees (money market and alternative products, equity, and fixed income) also meet for the specific purpose of considering advisory contract annual renewals. The Board of Trustees held meetings in person in June and August 2013, at which the Trustees considered the continuation of the investment advisory agreements for each of the Funds whose semi-annual report is contained herein (each an “Advisory Agreement” and collectively, the “Advisory Agreements”). At the June meeting, the Board’s investment committees met to review and consider performance, expense and related information for the J.P. Morgan Funds. Each investment committee reported to the full Board, which then considered the investment committee’s preliminary findings. At the August meeting, the Trustees continued their review and consideration. The Trustees, including a majority of the Trustees who are not “interested persons” (as defined in the 1940 Act) of any party to the Advisory Agreements or any of their affiliates, approved the continuation of each Advisory Agreement on August 22, 2013.

The Trustees, as part of their review of the investment advisory arrangements for the J.P. Morgan Funds, considered and reviewed performance and other information received from the Advisor, on a regular basis over the course of the year, as well as information specifically prepared for their annual review. This information includes the Funds’ performance compared to the performance of the Funds’ peers and benchmarks and analyses by the Advisor of the Funds’ performance. In addition, the Trustees have engaged an independent consultant to report on the performance of certain J.P. Morgan Funds at each of the Trustees’ regular meetings. The Advisor also periodically provides comparative information regarding the Funds’ expense ratios and those of the peer groups. In addition, in preparation for the June and August meetings, the Trustees requested, received and evaluated extensive materials from the Advisor, including, with respect to the Funds, performance and expense information compiled by Lipper Inc. (“Lipper”), an independent provider of investment company data. The independent consultant also provided additional analyses of the performance of the Funds in connection with the Trustees’ review of the investment advisory arrangements. Prior to voting, the Trustees reviewed the proposed approval of the Advisory Agreements with representatives of the Advisor and with counsels to the Trust and independent Trustees and received a memorandum from independent counsel to the Trustees discussing the legal standards for their consideration of the proposed

approval. The Trustees also discussed the proposed approvals in executive sessions with counsels to the Trust and independent Trustees at which no representatives of the Advisor were present. Set forth below is a summary of the material factors evaluated by the Trustees in determining whether to approve each Advisory Agreement.

In their deliberations, there was a comprehensive consideration of the information received by the Trustees. Each Trustee attributed different weights to the various factors and no factor alone was considered determinative. From year to year, the Trustees consider and place emphasis on relevant information in light of changing circumstances in market and economic conditions. The Trustees determined that the compensation to be received by the Advisor from each Fund under the applicable Advisory Agreement was fair and reasonable and that the continuance of the investment advisory contract was in the best interests of each Fund and its shareholders.

The factors summarized below were considered and discussed by the Trustees in reaching their conclusions:

Nature, Extent and Quality of Services Provided by the Advisor

The Trustees received and considered information regarding the nature, extent and quality of the services provided to each Fund under the Advisory Agreement. The Trustees took into account information furnished throughout the year at Trustee meetings, as well as the materials furnished specifically in connection with this annual review process. The Trustees considered the background and experience of the Advisor’s senior management and the expertise of, and the amount of attention given to each Fund by, investment personnel of the Advisor. In addition, the Trustees reviewed the qualifications, backgrounds and responsibilities of the portfolio management team primarily responsible for the day-to-day management of each Fund and the infrastructure supporting the team. The Trustees also reviewed information relating to the Advisor’s risk governance model and reports showing the Advisor’s compliance structure and ongoing compliance processes. The quality of the administrative services provided by JPMorgan Funds Management, Inc. (“JPMFM”), an affiliate of the Advisor, was also considered.

The Board of Trustees also considered its knowledge of the nature and quality of the services provided by the Advisor to the Funds gained from their experience as Trustees of the J.P. Morgan Funds. In addition, they considered the overall reputation and capabilities of the Advisor and its affiliates, the commitment of the Advisor to provide high quality service to the Funds, their overall confidence in the Advisor’s integrity and the Advisor’s responsiveness to questions or concerns raised by them, including the Advisor’s willingness to consider and implement organizational and operational changes designed to improve investment results and the services provided to each Fund.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 105

BOARD APPROVAL OF INVESTMENT ADVISORY AGREEMENTS

(Unaudited) (continued)

Based on these considerations and other factors, the Trustees concluded that they were satisfied with the nature, extent and quality of the investment advisory services provided to the Funds by the Advisor.

Costs of Services Provided and Profitability to the Advisor and its Affiliates

The Trustees received and considered information regarding the profitability to the Advisor and its affiliates in providing services to each of the Funds. The Trustees reviewed and discussed this data. The Trustees recognized that this data is not audited and represents the Advisor’s determination of its and its affiliates’ revenues from the contractual services provided to the Funds, less expenses of providing such services. Expenses include direct and indirect costs and are calculated using an allocation methodology developed by the Advisor. The Trustees also recognized that it is difficult to make comparisons of profitability from fund investment advisory contracts because comparative information is not generally publicly available and is affected by numerous factors, including the structure of the particular adviser, the types of funds it manages, its business mix, numerous assumptions regarding allocations and the fact that publicly-traded fund managers’ operating profits and net income are net of distribution and marketing expenses. Based on their review, the Trustees concluded that the profitability to the Advisor under each of the Advisory Agreements was not unreasonable in light of the services and benefits provided to each Fund.

Fall-Out Benefits

The Trustees reviewed information regarding potential “fallout” or ancillary benefits received by the Advisor and its affiliates as a result of their relationship with the Funds. The Board considered that the Advisor does not currently use third-party soft dollar arrangements with respect to securities transactions it executes for these Funds.

The Trustees also considered that JPMFM, an affiliate of the Advisor, earn fees from the Funds for providing administrative services. These fees were shown separately in the profitability analysis presented to the Trustees. The Trustees also considered the fees paid to JPMorgan Chase Bank, N.A. (“JPMCB”) for custody and fund accounting, and other related services.

Economies of Scale

The Trustees noted that the proposed investment advisory fee schedule for each Fund does not contain breakpoints. The Trustees considered whether it would be appropriate to add advisory fee breakpoints and the Trustees concluded that the current fee structure was reasonable in light of the fee waivers and expense limitations that the Advisor has in place that serve to limit the overall net expense ratio at competitive levels. The Trustees also recognized that the fee schedule for the administrative services provided by JPMFM does include a fee break-

point, which is tied to the overall level of non-money market fund assets excluding certain funds-of-funds, as applicable, advised by the Advisor, and that the Funds benefit from that breakpoint. The Trustees concluded that shareholders benefited from the lower expense ratios which resulted from these factors.

Independent Written Evaluation of the Funds’ Chief Compliance Officer

The Trustees noted that, upon their direction, the Chief Compliance Officer for the Funds had prepared an independent written evaluation in order to assist the Trustees in determining the reasonableness of the proposed management fees. The Trustees considered the written evaluation in determining whether to continue the Advisory Agreements.

Fees Relative to Advisor’s Other Clients

The Trustees received and considered information about the nature and extent of investment advisory services and fee rates offered to other clients of the Advisor for investment management styles substantially similar to that of each Fund. The Trustees also considered the complexity of investment management for the Funds relative to the Advisor’s other clients and the differences in the nature and extent of the services provided to the different clients. The Trustees concluded that the fee rates charged to each Fund in comparison to those charged to the Advisor’s other clients were reasonable.

Investment Performance

The Trustees received and considered absolute and/or relative performance for the Funds in a report prepared by Lipper. The Trustees considered the total return performance information, which included the ranking of the Funds within a performance universe made up of funds with the same Lipper investment classification and objective (the “Universe Group”) by total return for applicable one-, three- and five-year periods. The Trustees reviewed a description of Lipper’s methodology for selecting mutual funds in each Fund’s Universe Group. The Lipper materials provided to the Trustees highlighted information with respect to certain representative classes to assist the Trustees in their review. As part of this review, the Trustees also reviewed each Fund’s performance against its benchmark and considered the performance information provided for the Funds at regular Board meetings by the Advisor and the independent consultant and also considered the special analysis prepared by the independent consultant. The Lipper performance data noted by the Trustees as part of their review and the determinations made by the Trustees with respect to each Fund’s performance for certain representative classes are summarized below:

The Trustees noted that Core Bond Trust’s performance was in the first quintile for each of the one-, three-, and five-year periods ended December 31, 2012, respectively. The Trustees

106 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2013

also noted that the independent consultant indicated that the Fund’s overall performance was attractive. The Trustees discussed the performance and investment strategy of the Fund with the Advisor and, based upon this discussion and various other factors, concluded that the performance was reasonable.

The Trustees noted that Equity Index Trust’s performance was in the first quintile for each of the one-, three- and five-year periods ended December 31, 2012, and that the independent consultant indicated that Fund’s overall performance was satisfactory. The Trustees discussed the performance and investment strategy of the Fund with the Advisor and, based upon this discussion and various other factors, concluded that the performance was reasonable.

The Trustees noted that Intermediate Bond Trust’s performance was in the first quintile for each of the one-, three-, and five-year periods ended December 31, 2012, and that the independent consultant indicated that the Fund’s overall performance was attractive. The Trustees discussed the performance and investment strategy of the Fund with the Advisor and, based upon this discussion and various other factors, concluded that the performance was reasonable.

Advisory Fees and Expense Ratios

The Trustees considered the contractual advisory fee rate paid by each Fund to the Advisor and compared that rate to the information prepared by Lipper concerning management fee rates paid by other funds in the same Lipper category as each Fund. The Trustees recognized that Lipper reported each

Fund’s management fee rate as the combined contractual advisory fee and the administration fee rates. The Trustees also reviewed information about other expenses and the expense ratios for each Fund. The Trustees considered the fee waiver and/or expense reimbursement arrangements currently in place for each Fund and considered the net advisory fee rate after taking into account any waivers and/or reimbursements. The Trustees recognized that it is difficult to make comparisons of advisory fees because there are variations in the services that are included in the fees paid by other funds. The Trustees’ determinations as a result of the review of each Fund’s advisory fees and expense ratios are summarized below:

The Trustees noted that Core Bond Trust’s net advisory fee and actual total expenses were in the first quintile of its Universe Group. After considering the factors identified above, in light of this information, the Trustees concluded that the advisory fee was reasonable.

The Trustees noted that Equity Index Trust’s net advisory fee and actual total expenses were in the first quintile of its Universe Group. After considering the factors identified above, in light of this information, the Trustees concluded that the advisory fee was reasonable.

The Trustees noted that Intermediate Bond Trust’s net advisory fee and actual total expenses were in the first quintile of its Universe Group. After considering the factors identified above, in light of this information, the Trustees concluded that the advisory fee was reasonable.

AUGUST 31, 2013 JPMORGAN INSTITUTIONAL TRUST FUNDS 107

FOR MORE INFORMATION:

INVESTMENT ADVISOR

J.P. Morgan Investment Management Inc.

270 Park Avenue

New York, New York 10017

PLACEMENT AGENT

JPMorgan Institutional Investments, Inc.

270 Park Avenue

New York, New York 10017

This report is open and authorized for distribution only to qualified and accredited investors who have received a copy of the Funds’ Confidential Offering Memorandum. This document may not be copied, faxed or otherwise distributed to the general public.

Investors may obtain information about the Securities Investor Protection Corporation (SIPC), including SIPC brochure by visiting www.sipc.org or by calling SIPC at 202-371-8300.

Each Fund files a complete schedule of its portfolio holdings for the first and third quarters of its fiscal year with the SEC on Form N-Q. Each Funds’ Forms N-Q are available on the SEC’s website at http://www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the SEC’s Public Reference Room may be obtained by calling 1-800-SEC-0330.

A copy of proxy policies and procedures is available without charge upon request by calling 1-800-343-1113 and a description of such policies and procedures is on the Commission’s website at www.sec.gov. The Trustees have delegated the authority to vote proxies for securities owned by the Funds to the Advisor. A copy of the Funds’ voting record is available on the SEC’s website at www.sec.gov. The Funds’ proxy voting record will include, among other things, a brief description of the matter voted on for each portfolio security, and will state how each vote was cast, for example, for or against the proposal.

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 Chase & Co., 2013.  All rights reserved. August 2013. SAN-INSTT-813

ITEM 2. CODE OF ETHICS.

Disclose whether, as of the end of the period covered by the report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, explain why it has not done so.

The registrant must briefly describe the nature of any amendment, during the period covered by the report, to a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item. The registrant must file a copy of any such amendment as an exhibit pursuant to Item 12(a)(1), unless the registrant has elected to satisfy paragraph (f) of this Item by positing its code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by undertaking to provide its code of ethics to any person without charge, upon request, pursuant to paragraph (f)(3) of this Item.

If the registrant has, during the period covered by the report, granted a waiver, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or third party, that relates to one or more items set forth in paragraph (b) of this Item, the registrant must briefly describe the nature of the waiver, the name of the person to whom the waiver was granted, and the date of the waiver.

Not applicable to a semi-annual report.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

(a) (1) Disclose that the registrant’s board of directors has determined that the registrant either:

(i) Has at least one audit committee financial expert serving on its audit committee; or

(ii) Does not have an audit committee financial expert serving on its audit committee.

(2) If the registrant provides the disclosure required by paragraph (a)(1)(i) of this Item, it must disclose the name of the audit committee financial expert and whether that person is “independent.” In order to be considered “independent” for purposes of this Item, a member of an audit committee may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee:

(i) Accept directly or indirectly any consulting, advisory, or other compensatory fee from the issuer; or

(ii) Be an “interested person” of the investment company as defined in Section 2(a)(19) of the Act (15 U.S.C.

80a-2(a)(19)).

(3) If the registrant provides the disclosure required by paragraph (a)(1)(ii) of this Item, it must explain why it does not have an audit committee financial expert.

Not applicable to a semi-annual report.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Disclose, under the caption Audit Fees, the aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.

(b) Disclose, under the caption Audit-Related Fees, the aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.

(c) Disclose, under the caption Tax Fees, the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. Registrants shall describe the nature of the services comprising the fees disclosed under this category.

(d) Disclose, under the caption All Other Fees, the aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.

(e) (1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.

  (2) Disclose the percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) If greater than 50 percent, disclose the percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

(g) Disclose the aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant.

(h) Disclose whether the registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any subadviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Not applicable to a semi-annual report

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

(a) If the registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act (17CFR 240.10A-3), state whether or not the registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)). If the registrant has such a committee, however designated, identify each committee member. If the entire board of directors is acting as the registrant’s audit committee as specified in Section 3(a)(58)(B) of the Exchange Act (15 U.S.C. 78c(a)(58)(B)), so state.

(b) If applicable, provide the disclosure required by Rule 10A-3(d) under the Exchange Act (17CFR 240.10A-3(d)) regarding an exemption from the listing standards for all audit committees.

Not applicable to a semi-annual report.

ITEM 6. SCHEDULE OF INVESTMENTS.

File Schedule I – Investments in securities of unaffiliated issuers as of the close of the reporting period as set forth in Section 210.12-12 of Regulation S-X, unless the schedule is included as part of the report to shareholders filed under Item 1 of this Form.

Included in Item 1.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

A closed-end management investment company that is filing an annual report on this Form N-CSR must, unless it invests exclusively in non-voting securities, describe the policies and procedures that it uses to determine how to vote proxies relating to portfolio securities, including the procedures that the company uses when a vote presents a conflict between the interests of its shareholders, on the one hand, and those of the company’s investment adviser; principal underwriter; or any affiliated person (as defined in Section 2(a)(3) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules thereunder) of the company, its investment adviser, or its principal underwriter, on the other. Include any policies and procedures of the company’s investment adviser, or any other third party, that the company uses, or that are used on the company’s behalf, to determine how to vote proxies relating to portfolio securities.

Not applicable.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

(a) If the registrant is a closed-end management investment company, provide the information specified in paragraph (b) of this Item with respect to any purchase made by or on behalf of the registrant or any “affiliated purchaser,” as defined in Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of shares or other units of any class of the registrant’s equity securities that is registered by the registrant pursuant to Section 12 of the Exchange Act (15 U.S.C. 781).

Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

Describe any material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 7(d)(2)(ii)(G) of Schedule 14A (17 CFR 240.14a-101), or this Item.

No material changes to report.

ITEM 11. CONTROLS AND PROCEDURES.

(a) Disclose the conclusions of the registrant’s principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).

The Registrant’s principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time

periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) Disclose any change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

There were no changes in the Registrant’s internal control over financial reporting that occurred during the last fiscal quarter covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

ITEM 12. EXHIBITS.

(a) File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.

(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit.

Not applicable.

(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2).

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 are attached hereto.

(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.

Not applicable.

(b) A separate or combined certification for each principal executive officer and principal officer of the registrant as required by Rule 30a-2(b) under the Act of 1940.

Certifications pursuant to Rule 30a-2(b) 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/ Robert L. Young
	Robert L. Young
	President and Principal Executive Officer
	November 7, 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/ Robert L. Young
	Robert L. Young
	President and Principal Executive Officer
	November 7, 2013

By:	/s/ Joy C. Dowd
	Joy C. Dowd
	Treasurer and Principal Financial Officer
	November 7, 2013

EX-99.CERT

EXHIBIT (B)(1)

CERTIFICATIONS

I, Robert L. Young, certify that:

1. I have reviewed this report on Form N-CSR of the JPMorgan Core Bond Trust, JPMorgan Equity Index Trust and JPMorgan Intermediate Bond Trust (the “Funds”), each a series of JPMorgan Institutional Trust (the “Registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provided reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the last fiscal quarter covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weakness in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: November 7, 2013
	/s/ Robert L. Young
	Robert L. Young
	President and Principal Executive Officer

CERTIFICATIONS

I, Joy C. Dowd, certify that:

1. I have reviewed this report on Form N-CSR of JPMorgan Core Bond Trust, JPMorgan Equity Index Trust and JPMorgan Intermediate Bond Trust (the “Funds”), each a series of JPMorgan Institutional Trust (the “Registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provided reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the last fiscal quarter covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weakness in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: November 7, 2013
	/s/ Joy C. Dowd
	Joy C. Dowd
	Treasurer and Principal Financial Officer

EX-99.906CERT

Certification Pursuant to Rule 30a-2(b) under the Investment Company Act of 1940

This certification is provided pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, and accompanies the report on Form N-CSR furnished to the Securities and Exchange Commission on the date hereof of the JPMorgan Core Bond Trust, JPMorgan Equity Index Trust and JPMorgan Intermediate Bond Trust (the “Funds”), each a series of JPMorgan Institutional Trust (the “Registrant”);

I, Robert L. Young, certify that:

1. The Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable; and

2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of the operations of the Registrant.

/s/ Robert L. Young

Robert L. Young

President and Principal Executive Officer

November 7, 2013

This certificate is furnished pursuant to the requirements of Form N-CSR and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

Certification Pursuant to Rule 30a-2(b) under the Investment Company Act of 1940

This certification is provided pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, and accompanies the report on Form N-CSR furnished to the Securities and Exchange Commission on the date hereof of the JPMorgan Core Bond Trust, JPMorgan Equity Index Trust and JPMorgan Intermediate Bond Trust (the “Funds”), each a series of JPMorgan Institutional Trust (the “Registrant”);

I, Joy C. Dowd, certify that:

1. The Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable; and

2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of the operations of the Registrant.

/s/ Joy C. Dowd

Joy C. Dowd

Treasurer and Principal Financial Officer

November 7, 2013

This certificate is furnished pursuant to the requirements of Form N-CSR and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.