UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-21638

JPMorgan Institutional Trust

(Exact name of registrant as specified in charter)

270 Park Avenue

New York, New York 10017

(Address of principal executive offices) (Zip code)

Frank J. Nasta

270 Park Avenue

New York, New York 10017

(Name and Address of Agent for Service)

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

Date of fiscal year end: Last day of February

Date of reporting period: November 30, 2013

ITEM 1. SCHEDULE OF INVESTMENTS.

JPMorgan Institutional Trust

Schedule of Portfolio Investments as of November 30, 2013

(Unaudited)

THE “UNAUDITED CERTIFIED MUTUAL FUNDS HOLDINGS” LIST (“the List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR SALES LITERATURE WITH THE GENERAL PUBLIC. The list is submitted for the general information of the shareholders of the Fund. It is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by a prospectus. The list has been created from the books and records of the Fund. Certified holdings are available 60 days after the fund’s fiscal quarter, using a trade date accounting convention, by contacting the appropriate service center. The list is subject to change without notice. The list is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.

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

JPMorgan Distribution Services, Inc.

© JPMorgan Chase & Co., 2013.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — 5.3%
		Academic Loan Funding Trust,
	1,573	Series 2012-1A, Class A1, VAR, 0.966%, 12/27/22 (e)		1,588
	3,000	Series 2013-1A, Class A, VAR, 0.968%, 12/26/44 (e)		2,977
		Ally Auto Receivables Trust,
	378	Series 2010-3, Class A4, 1.550%, 08/17/15		379
	1,033	Series 2012-1, Class A3, 0.930%, 02/16/16		1,036
	808	Series 2012-2, Class A3, 0.740%, 04/15/16		809
	113	Series 2012-3, Class A2, 0.700%, 01/15/15		114
	1,123	Series 2012-3, Class A3, 0.850%, 08/15/16		1,127
	572	Series 2012-4, Class A2, 0.480%, 05/15/15		572
	982	Series 2012-5, Class A2, 0.450%, 07/15/15		982
	1,722	Series 2013-2, Class A3, 0.790%, 01/15/18		1,724
	300	Series 2013-2, Class A4, 1.240%, 11/15/18		300
		American Credit Acceptance Receivables Trust,
	192	Series 2012-1, Class A2, 3.040%, 10/15/15 (e)		192
	709	Series 2012-3, Class A, 1.640%, 11/15/16 (e)		708
	1,448	Series 2013-1, Class A, 1.450%, 04/16/18 (e)		1,447
	1,014	Series 2013-2, Class A, 1.320%, 02/15/17 (e)		1,015
		AmeriCredit Automobile Receivables Trust,
	8	Series 2011-1, Class A3, 1.390%, 09/08/15		8
	834	Series 2011-4, Class A3, 1.170%, 05/09/16		836
	1,059	Series 2011-5, Class A3, 1.550%, 07/08/16		1,063
	88	Series 2012-1, Class A2, 0.910%, 10/08/15		88
	235	Series 2012-1, Class A3, 1.230%, 09/08/16		236
	123	Series 2012-2, Class A3, 1.050%, 10/11/16		123
	173	Series 2012-3, Class A2, 0.710%, 12/08/15		173
	361	Series 2012-3, Class A3, 0.960%, 01/09/17		362
	184	Series 2012-4, Class A2, 0.490%, 04/08/16		184
	578	Series 2012-5, Class A2, 0.510%, 01/08/16		578
	290	Series 2012-5, Class A3, 0.620%, 06/08/17		290
	1,527	Series 2013-4, Class A2, 0.740%, 11/08/16		1,529
	590	Series 2013-5, Class A3, 0.900%, 09/10/18		590
	405	Ascentium Equipment Receivables LLC, Series 2012-1A, Class A, 1.830%, 09/15/19 (e)		405
	3,044	Axis Equipment Finance Receivables LLC, Series 2013-1A, Class A, 1.750%, 03/20/17 (e)		3,042
	496	Bank of America Auto Trust, Series 2012-1, Class A3, 0.780%, 06/15/16		497
	3,113	Bayview Opportunity Master Fund IIa Trust, Series 2013-8NPL, Class A, VAR, 3.228%, 03/28/33 (e)		3,134
	532	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.536%, 04/25/36		507
	509	BMW Vehicle Lease Trust, Series 2012-1, Class A3, 0.750%, 02/20/15		509
	678	BMW Vehicle Owner Trust, Series 2013-A, Class A3, 0.670%, 11/27/17		679
	1,130	BXG Receivables Note Trust, Series 2012-A, Class A, 2.660%, 12/02/27 (e)		1,120
	700	Cabela’s Master Credit Card Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		711
	1,228	California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		1,227
	1,500	Capital Auto Receivables Asset Trust, Series 2013-3, Class A1B, VAR, 0.598%, 11/20/15		1,500
		Carfinance Capital Auto Trust,
	617	Series 2013-1A, Class A, 1.650%, 07/17/17 (e)		616
	562	Series 2013-2A, Class A, 1.750%, 11/15/17 (e)		562
		CarMax Auto Owner Trust,
	196	Series 2011-1, Class A3, 1.290%, 09/15/15		196
	885	Series 2011-1, Class A4, 2.160%, 09/15/16		898
	961	Series 2011-3, Class A3, 1.070%, 06/15/16		964
	167	Series 2012-3, Class A2, 0.430%, 09/15/15		167

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	676	Series 2013-4, Class A3, 0.800%, 07/16/18		677
	440	Series 2013-4, Class A4, 1.280%, 05/15/19		440
	1,465	CarNow Auto Receivables Trust, Series 2013-1A, Class A, 1.160%, 10/16/17 (e)		1,465
	437	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		454
	1,488	Chase Funding Trust, Series 2003-6, Class 1A7, SUB, 4.277%, 11/25/34		1,503
	800	Citibank Credit Card Issuance Trust, Series 2007-A3, Class A3, 6.150%, 06/15/39		908
	1,032	Citigroup Mortgage Loan Trust, Series 2011-5, Class 1A1, VAR, 0.356%, 02/25/46 (e)		969
	380	Citigroup Mortgage Loan Trust, Inc., Series 2003-HE3, Class A, VAR, 0.546%, 12/25/33		359
		CNH Equipment Trust,
	215	Series 2011-A, Class A3, 1.200%, 05/16/16		215
	747	Series 2011-A, Class A4, 2.040%, 10/17/16		757
	750	Series 2012-A, Class A3, 0.940%, 05/15/17		752
	313	Series 2012-C, Class A2, 0.440%, 02/16/16		313
		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)		1,610
	1,623	Conix Mortgage Asset Trust, Series 2013-1, Class A, VAR, 4.704%, 12/25/47 (e) (i)		1,593
	832	Countrywide Asset-Backed Certificates, Series 2004-6, Class M1, VAR, 0.766%, 10/25/34		776
		CPS Auto Receivables Trust,
	850	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		873
	435	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		443
	2,516	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		2,548
	3,580	Series 2013-C, Class A, 1.640%, 04/16/18 (e)		3,579
		CPS Auto Trust,
	1,455	Series 2012-C, Class A, 1.820%, 12/16/19 (e)		1,464
	231	Series 2012-D, Class A, 1.480%, 03/16/20 (e)		231
		Credit Acceptance Auto Loan Trust,
	988	Series 2011-1, Class A, 2.610%, 03/15/19 (e)		996
	565	Series 2012-1A, Class A, 2.200%, 09/16/19 (e)		570
	1,512	Series 2012-2A, Class A, 1.520%, 03/16/20 (e)		1,517
	813	Discover Card Execution Note Trust, Series 2012-A1, Class A1, 0.810%, 08/15/17		816
		Exeter Automobile Receivables Trust,
	742	Series 2012-2A, Class A, 1.300%, 06/15/17 (e)		744
	1,087	Series 2013-1A, Class A, 1.290%, 10/16/17 (e)		1,089
	2,770	Series 2013-2A, Class A, 1.490%, 11/15/17 (e)		2,780
	349	Fifth Third Auto Trust, Series 2013-1, Class A3, 0.880%, 10/16/17		351
	75	First Franklin Mortgage Loan Trust, Series 2006-FF17, Class A4, VAR, 0.266%, 12/25/36		74
	592	First Investors Auto Owner Trust, Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		595
		Flagship Credit Auto Trust,
	1,414	Series 2013-1, Class A, 1.320%, 04/16/18 (e)		1,413
	1,951	Series 2013-2, Class A, 1.940%, 01/15/19 (e)		1,949
	503	Ford Credit Auto Lease Trust, Series 2013-B, Class A3, 0.760%, 09/15/16		503
		Ford Credit Auto Owner Trust,
	1,204	Series 2012-A, Class A3, 0.840%, 08/15/16		1,207
	547	Series 2012-B, Class A3, 0.720%, 12/15/16		548
	374	Series 2012-D, Class A2, 0.400%, 09/15/15		374
	659	Series 2012-D, Class A3, 0.510%, 04/15/17		660
	669	Ford Credit Floorplan Master Owner Trust, Series 2013-1, Class A2, VAR, 0.548%, 01/15/18		669
		Fortress Opportunities Residential Transaction,
	1,694	Series 2013-1A, Class A1N, SUB, 3.960%, 10/25/33 (e) (i)		1,694
	698	Series 2013-1A, Class AR, SUB, 4.210%, 10/25/18 (e) (i)		698

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	853	Freedom Trust, Series 2011-2, Class A11, VAR, 3.465%, 08/01/46 (e)		877
	310	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		303
		GE Equipment Midticket LLC,
	800	Series 2012-1, Class A3, 0.600%, 05/23/16		800
	360	Series 2012-1, Class A4, 0.780%, 09/22/20		360
	286	GE Equipment Transportation LLC, Series 2012-2, Class A2, 0.470%, 04/24/15		286
	1,879	GMAT Trust, Series 2013-1A, Class A, SUB, 3.967%, 11/25/43 (e)		1,879
		HLSS Servicer Advance Receivables Backed Notes,
	1,560	Series 2012-T2, Class A2, 1.990%, 10/15/45 (e)		1,570
	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)		1,196
	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)		1,159
	2,140	Series 2013-T7, Class A7, 1.981%, 11/15/46 (e)		2,140
	196	Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-A, Class A3, VAR, 0.366%, 03/25/36		146
		Honda Auto Receivables Owner Trust,
	499	Series 2011-1, Class A4, 1.800%, 04/17/17		502
	388	Series 2012-1, Class A4, 0.970%, 04/16/18		391
	413	Series 2012-2, Class A3, 0.700%, 02/16/16		414
	226	Series 2013-1, Class A2, 0.350%, 06/22/15		226
	1,527	Series 2013-4, Class A3, 0.690%, 09/18/17		1,529
		HSBC Home Equity Loan Trust USA,
	869	Series 2006-1, Class A1, VAR, 0.328%, 01/20/36		845
	1,634	Series 2007-3, Class APT, VAR, 1.368%, 11/20/36		1,623
		Huntington Auto Trust,
	473	Series 2011-1A, Class A3, 1.010%, 01/15/16 (e)		474
	1,000	Series 2011-1A, Class A4, 1.310%, 11/15/16 (e)		1,010
	604	Series 2012-1, Class A3, 0.810%, 09/15/16		606
		Hyundai Auto Receivables Trust,
	10	Series 2010-B, Class A3, 0.970%, 04/15/15		10
	710	Series 2010-B, Class A4, 1.630%, 03/15/17		717
	21	Series 2011-A, Class A3, 1.160%, 04/15/15		21
	520	Series 2011-A, Class A4, 1.780%, 12/15/15		524
	195	Series 2011-B, Class A3, 1.040%, 09/15/15		196
	824	Series 2011-B, Class A4, 1.650%, 02/15/17		832
	769	Series 2013-A, Class A2, 0.400%, 12/15/15		769
		John Deere Owner Trust,
	88	Series 2011-A, Class A3, 1.290%, 01/15/16		88
	355	Series 2011-A, Class A4, 1.960%, 04/16/18		358
	366	Series 2012-B, Class A2, 0.430%, 02/17/15		366
	581	Series 2012-B, Class A4, 0.690%, 01/15/19		580
	13,720	KGS-Alpha Capital Markets LP, Series 2013-2, VAR, 1.144%, 03/25/39		800
	1,799	Kondaur Mortgage Asset Trust, Series 2013-1, Class A, VAR, 4.458%, 08/25/52 (e)		1,879
	8	LAI Vehicle Lease Securitization Trust, Series 2010-A, Class A, 2.550%, 09/15/16 (e) (i)		8
	597	Lake Country Mortgage Loan Trust, Series 2006-HE1, Class A3, VAR, 0.516%, 07/25/34 (e)		593
	513	Long Beach Mortgage Loan Trust, Series 2006-WL2, Class 2A3, VAR, 0.366%, 01/25/36		467
		LV Tower 52 Issuer LLC,
	3,208	Series 2013-1, Class A, 5.500%, 06/15/18 (i)		3,208
	1,925	Series 2013-1, Class M, 7.500%, 06/15/18 (i)		1,925
	1,772	Macquarie Equipment Funding Trust, Series 2012-A, Class A2, 0.610%, 04/20/15 (e)		1,769
	1,044	Madison Avenue Manufactured Housing Contract, Series 2002-A, Class M2, VAR, 2.416%, 03/25/32		1,043

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	138	Mercedes-Benz Auto Receivables Trust, Series 2012-1, Class A2, 0.370%, 03/16/15		138
	1,117	Mid-State Capital Corp. Trust, Series 2006-1, Class M1, 6.083%, 10/15/40 (e)		1,108
	3,100	MMCA Auto Owner Trust, Series 2012-A, Class A4, 1.570%, 08/15/17 (e)		3,120
		Nationstar Agency Advance Funding Trust,
	1,078	Series 2013-T1A, Class AT1, 0.997%, 02/15/45 (e)		1,072
	439	Series 2013-T2A, Class AT2, 1.892%, 02/18/48 (e)		430
	216	Series 2013-T2A, Class BT2, 2.487%, 02/18/48 (e)		215
	2,300	Nationstar Mortgage Advance Receivable Trust, Series 2013-T2A, Class A2, 1.679%, 06/20/46 (e)		2,296
	1,512	Navitas Equipment Receivables LLC, Series 2013-1, Class A, 1.950%, 11/15/16 (e)		1,513
	863	NCUA Guaranteed Notes Trust, Series 2010-A1, Class A, VAR, 0.519%, 12/07/20		864
	1,000	New Century Home Equity Loan Trust, Series 2003-5, Class AI6, SUB, 5.089%, 11/25/33		1,016
	273	Newcastle Investment Trust, Series 2011-MH1, Class A, 2.450%, 12/10/33 (e)		275
		Nissan Auto Lease Trust,
	616	Series 2012-B, Class A2A, 0.450%, 06/15/15		616
	611	Series 2013-B, Class A3, 0.750%, 06/15/16		611
		Nissan Auto Receivables Owner Trust,
	283	Series 2010-A, Class A4, 1.310%, 09/15/16		284
	333	Series 2012-A, Class A4, 1.000%, 07/16/18		336
	5,977	Normandy Mortgage Loan Co. LLC, Series 2013-NPL3, Class A, SUB, 4.949%, 09/16/43 (e)		5,977
		NYMT Residential LLC,
	1,500	Series 2012-RP1A, VAR, 4.250%, 12/25/17 (e) (i)		1,500
	2,298	Series 2013-RP3A, SUB, 4.850%, 09/25/18 (i)		2,298
	1,479	Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-MCW1, Class M1, VAR, 1.104%, 10/25/34		1,469
	433	PennyMac Loan Trust, Series 2012-NPL1, Class A, VAR, 3.422%, 05/28/52 (e) (i)		431
	1,000	Progreso Receivables Funding I LLC, Series 2013-A, Class A, 4.000%, 07/09/18 (e)		994
	2,747	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.466%, 03/25/36		2,586
	3,000	RBSHD Trust, Series 2013-1A, Class A, SUB, 4.685%, 10/25/47 (e) (i)		3,015
	20	Real Estate Asset Trust, Series 2011-2A, Class A1, 5.750%, 05/25/49 (e) (i)		20
	297	Renaissance Home Equity Loan Trust, Series 2007-2, Class AF2, SUB, 5.675%, 06/25/37		159
	1,494	Residential Credit Solutions Trust, Series 2011-1, Class A1, 6.000%, 03/25/41 (e) (i)		1,519
	656	Resort Finance Timeshare Receivables Trust, Series 2012-2, 5.750%, 09/05/18 (i)		656
	1,000	RMAT, Series 2012-1A, Class A1, VAR, 2.734%, 08/26/52 (e) (i)		1,005
		Santander Drive Auto Receivables Trust,
	700	Series 2010-A, Class A4, 2.390%, 06/15/17 (e)		706
	316	Series 2011-1, Class B, 2.350%, 11/16/15		318
	154	Series 2011-S2A, Class B, 2.060%, 06/15/17 (e)		154
	51	Series 2011-S2A, Class D, 3.350%, 06/15/17 (e)		51
	11	Series 2012-1, Class A2, 1.250%, 04/15/15		11
	411	Series 2012-1, Class A3, 1.490%, 10/15/15		412
	45	Series 2012-2, Class A2, 0.910%, 05/15/15		45
	427	Series 2012-2, Class A3, 1.220%, 12/15/15		428
	264	Series 2012-3, Class A3, 1.080%, 04/15/16		264
	197	Series 2012-6, Class A2, 0.470%, 09/15/15		197
	333	Series 2012-6, Class A3, 0.620%, 07/15/16		333
	504	Saxon Asset Securities Trust, Series 2003-1, Class AF6, SUB, 4.795%, 06/25/33		511
	311	Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.689%, 01/25/36		196
		SNAAC Auto Receivables Trust,
	131	Series 2012-1A, Class A, 1.780%, 06/15/16 (e)		131
	330	Series 2013-1A, Class A, 1.140%, 07/16/18 (e)		330

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	4,920		SpringCastle America Funding LLC, Series 2013-1A, Class A, 4.000%, 04/03/21 (e)		4,937
			Springleaf Funding Trust,
	9,200		Series 2013-AA, Class A, 2.580%, 09/15/21 (e)		9,187
	3,000		Series 2013-BA, Class A, 3.920%, 01/16/23 (e)		3,045
	2,000		Series 2013-BA, Class B, 4.820%, 01/16/23 (e)		1,950
			Stanwich Mortgage Loan Co. LLC,
	2,156		Series 2012-NPL4, Class A, 2.981%, 09/15/42 (e)		2,164
	2,472		Series 2012-NPL5, Class A, 2.981%, 10/18/42 (e)		2,471
	1,877		Series 2013-NPL2, Class A, 3.228%, 04/16/59 (e)		1,844
	3,192		Stanwich Mortgage Loan Trust, Series 2013-NPL1, Class A, 2.981%, 02/16/43 (e)		3,224
	3,500		Station Place Securitization Trust, Series 2013-1, VAR, 1.399%, 02/25/15		3,500
	43		Structured Asset Investment Loan Trust, Series 2005-5, Class A9, VAR, 0.571%, 06/25/35		43
	229		Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2002-23XS, Class A7, SUB, 6.580%, 11/25/32		243
			Toyota Auto Receivables Owner Trust,
	40		Series 2011-A, Class A3, 0.980%, 10/15/14		40
	1,540		Series 2011-A, Class A4, 1.560%, 05/15/15		1,547
	3,844		Trafigura Securitisation Finance plc, (Ireland), Series 2012-1A, Class A, VAR, 2.568%, 10/15/15 (e)		3,906
	256		United Auto Credit Securitization Trust, Series 2012-1, Class A2, 1.100%, 03/16/15 (e)		256
	54		USAA Auto Owner Trust, Series 2012-1, Class A2, 0.380%, 06/15/15		54
	3,500		Vericrest Opportunity Loan Transferee, Series 2013-NPL5, Class A1, SUB, 3.625%, 04/25/55 (e)		3,487
	1,100		Volkswagen Auto Lease Trust, Series 2012-A, Class A3, 0.870%, 07/20/15		1,103
	1,829		Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Class A3, 0.850%, 08/22/16		1,835
	1,600		VOLT LLC, Series 2012-RLF1, Class A, SUB, 3.475%, 12/25/17 (e)		1,600
	2,268		Volt NPL IX LLC, Series 2013-NPL3, Class A1, SUB, 4.250%, 04/25/53 (e)		2,265
			Westgate Resorts LLC,
	1,242		Series 2012-1, Class A, 4.500%, 09/20/25 (e)		1,265
	1,428		Series 2012-2A, Class A, 3.000%, 01/20/25 (e)		1,437
	728		Series 2012-3A, Class A, 2.500%, 03/20/25 (e)		728
	1,423		Series 2013-1A, Class A, 2.250%, 08/20/25 (e)		1,416
			World Omni Auto Receivables Trust,
	722		Series 2012-B, Class A2, 0.430%, 11/16/15		722
	1,164		Series 2013-B, Class A3, 0.830%, 08/15/18		1,166
	413		Series 2013-B, Class A4, 1.320%, 01/15/20		413
			Total Asset-Backed Securities (Cost $212,390)		213,786
	Collateralized Mortgage Obligations — 24.7%
			Agency CMO — 16.7%
	776		Federal Home Loan Bank, Series TQ-2015, Class A, 5.065%, 10/20/15		825
	231		Federal Home Loan Mortgage Corp. - Government National Mortgage Association, Series 8, Class ZA, 7.000%, 03/25/23		261
			Federal Home Loan Mortgage Corp. REMIC,
	14		Series 11, Class D, 9.500%, 07/15/19		15
	10		Series 22, Class C, 9.500%, 04/15/20		11
	16		Series 23, Class F, 9.600%, 04/15/20		19
	–	(h)	Series 41, Class I, HB, 84.000%, 05/15/20		—	(h)
	1		Series 47, Class F, 10.000%, 06/15/20		1
	4		Series 99, Class Z, 9.500%, 01/15/21		5
	–	(h)	Series 204, Class E, HB, IF, 1,855.092%, 05/15/23		—	(h)
	–	(h)	Series 1045, Class G, HB, 1,066.209%, 02/15/21		—	(h)
	6		Series 1065, Class J, 9.000%, 04/15/21		8
	1		Series 1079, Class S, HB, IF, 33.430%, 05/15/21		3
	5		Series 1084, Class F, VAR, 1.118%, 05/15/21		6
	4		Series 1084, Class S, HB, IF, 44.470%, 05/15/21		7
	12		Series 1116, Class I, 5.500%, 08/15/21		13

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	14		Series 1144, Class KB, 8.500%, 09/15/21		16
	–	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	–	(h)	Series 1196, Class B, HB, IF, 1,179.202%, 01/15/22		7
	13		Series 1250, Class J, 7.000%, 05/15/22		15
	22		Series 1343, Class LA, 8.000%, 08/15/22		25
	27		Series 1343, Class LB, 7.500%, 08/15/22		32
	45		Series 1370, Class JA, VAR, 1.318%, 09/15/22		45
	46		Series 1455, Class WB, IF, 4.591%, 12/15/22		48
	212		Series 1466, Class PZ, 7.500%, 02/15/23		241
	3		Series 1470, Class F, VAR, 1.957%, 02/15/23		3
	232		Series 1498, Class I, VAR, 1.318%, 04/15/23		231
	334		Series 1502, Class PX, 7.000%, 04/15/23		374
	41		Series 1505, Class Q, 7.000%, 05/15/23		46
	96		Series 1518, Class G, IF, 8.849%, 05/15/23		116
	31		Series 1541, Class M, HB, IF, 23.715%, 07/15/23		52
	86		Series 1541, Class O, VAR, 1.870%, 07/15/23		89
	9		Series 1570, Class F, VAR, 2.457%, 08/15/23		9
	314		Series 1573, Class PZ, 7.000%, 09/15/23		357
	203		Series 1591, Class PV, 6.250%, 10/15/23		225
	27		Series 1602, Class SA, HB, IF, 22.205%, 10/15/23		47
	826		Series 1608, Class L, 6.500%, 09/15/23		915
	103		Series 1609, Class LG, IF, 16.970%, 11/15/23		117
	467		Series 1638, Class H, 6.500%, 12/15/23		523
	399		Series 1642, Class PJ, 6.000%, 11/15/23		451
	14		Series 1671, Class QC, IF, 10.000%, 02/15/24		20
	18		Series 1686, Class SH, IF, 18.860%, 02/15/24		27
	135		Series 1695, Class EB, 7.000%, 03/15/24		154
	27		Series 1699, Class FC, VAR, 0.768%, 03/15/24		27
	150		Series 1700, Class GA, PO, 02/15/24		143
	384		Series 1706, Class K, 7.000%, 03/15/24		438
	13		Series 1709, Class FA, VAR, 1.810%, 03/15/24		13
	37		Series 1745, Class D, 7.500%, 08/15/24		43
	798		Series 1760, Class ZD, VAR, 2.160%, 02/15/24		865
	302		Series 1798, Class F, 5.000%, 05/15/23		327
	6		Series 1807, Class G, 9.000%, 10/15/20		6
	81		Series 1829, Class ZB, 6.500%, 03/15/26		91
	80		Series 1863, Class Z, 6.500%, 07/15/26		89
	39		Series 1865, Class D, PO, 02/15/24		34
	60		Series 1890, Class H, 7.500%, 09/15/26		70
	173		Series 1899, Class ZE, 8.000%, 09/15/26		201
	10		Series 1935, Class FL, VAR, 0.868%, 02/15/27		10
	124		Series 1963, Class Z, 7.500%, 01/15/27		145
	20		Series 1970, Class PG, 7.250%, 07/15/27		23
	189		Series 1981, Class Z, 6.000%, 05/15/27		213
	85		Series 1987, Class PE, 7.500%, 09/15/27		95
	214		Series 2019, Class Z, 6.500%, 12/15/27		245
	64		Series 2033, Class SN, HB, IF, 27.133%, 03/15/24		39
	173		Series 2038, Class PN, IO, 7.000%, 03/15/28		42
	349		Series 2040, Class PE, 7.500%, 03/15/28		405
	58		Series 2043, Class CJ, 6.500%, 04/15/28		67
	280		Series 2054, Class PV, 7.500%, 05/15/28		325
	512		Series 2075, Class PH, 6.500%, 08/15/28		582
	576		Series 2075, Class PM, 6.250%, 08/15/28		588
	158		Series 2086, Class GB, 6.000%, 09/15/28		172
	234		Series 2089, Class PJ, IO, 7.000%, 10/15/28		50
	700		Series 2095, Class PE, 6.000%, 11/15/28		783
	2		Series 2102, Class TC, 6.000%, 12/15/13		2
	1		Series 2102, Class TU, 6.000%, 12/15/13		1

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	11		Series 2115, Class PE, 6.000%, 01/15/14		11
	229		Series 2125, Class JZ, 6.000%, 02/15/29		254
	51		Series 2132, Class SB, HB, IF, 29.822%, 03/15/29		97
	31		Series 2134, Class PI, IO, 6.500%, 03/15/19		4
	–	(h)	Series 2135, Class UK, IO, 6.500%, 03/15/14		—	(h)
	300		Series 2136, Class PG, 6.000%, 03/15/29		335
	88		Series 2141, Class IO, IO, 7.000%, 04/15/29		19
	76		Series 2163, Class PC, IO, 7.500%, 06/15/29		16
	870		Series 2169, Class TB, 7.000%, 06/15/29		1,010
	398		Series 2172, Class QC, 7.000%, 07/15/29		454
	375		Series 2176, Class OJ, 7.000%, 08/15/29		431
	208		Series 2201, Class C, 8.000%, 11/15/29		245
	188		Series 2209, Class TC, 8.000%, 01/15/30		229
	318		Series 2210, Class Z, 8.000%, 01/15/30		372
	85		Series 2224, Class CB, 8.000%, 03/15/30		101
	196		Series 2230, Class Z, 8.000%, 04/15/30		232
	143		Series 2234, Class PZ, 7.500%, 05/15/30		167
	119		Series 2247, Class Z, 7.500%, 08/15/30		139
	181		Series 2256, Class MC, 7.250%, 09/15/30		211
	336		Series 2259, Class ZM, 7.000%, 10/15/30		390
	10		Series 2261, Class ZY, 7.500%, 10/15/30		11
	40		Series 2262, Class Z, 7.500%, 10/15/30		47
	395		Series 2271, Class PC, 7.250%, 12/15/30		459
	537		Series 2283, Class K, 6.500%, 12/15/23		597
	173		Series 2296, Class PD, 7.000%, 03/15/31		202
	58		Series 2306, Class K, PO, 05/15/24		56
	137		Series 2306, Class SE, IF, IO, 7.940%, 05/15/24		23
	243		Series 2313, Class LA, 6.500%, 05/15/31		277
	328		Series 2325, Class PM, 7.000%, 06/15/31		355
	371		Series 2344, Class QG, 6.000%, 08/15/16		390
	1,954		Series 2344, Class ZD, 6.500%, 08/15/31		2,120
	168		Series 2344, Class ZJ, 6.500%, 08/15/31		190
	169		Series 2345, Class NE, 6.500%, 08/15/31		192
	113		Series 2345, Class PQ, 6.500%, 08/15/16		119
	191		Series 2351, Class PZ, 6.500%, 08/15/31		217
	1,559		Series 2353, Class AZ, 6.000%, 09/15/31		1,729
	152		Series 2353, Class TD, 6.000%, 09/15/16		160
	133		Series 2355, Class BP, 6.000%, 09/15/16		140
	84		Series 2359, Class PM, 6.000%, 09/15/16		88
	661		Series 2359, Class ZB, 8.500%, 06/15/31		800
	227		Series 2360, Class PG, 6.000%, 09/15/16		239
	51		Series 2363, Class PF, 6.000%, 09/15/16		53
	96		Series 2366, Class MD, 6.000%, 10/15/16		101
	317		Series 2367, Class ME, 6.500%, 10/15/31		339
	333		Series 2391, Class QR, 5.500%, 12/15/16		349
	146		Series 2394, Class MC, 6.000%, 12/15/16		154
	651		Series 2396, Class FM, VAR, 0.618%, 12/15/31		653
	361		Series 2399, Class OH, 6.500%, 01/15/32		393
	609		Series 2399, Class TH, 6.500%, 01/15/32		661
	564		Series 2410, Class NG, 6.500%, 02/15/32		616
	214		Series 2410, Class OE, 6.375%, 02/15/32		233
	392		Series 2410, Class QS, IF, 19.064%, 02/15/32		597
	202		Series 2410, Class QX, IF, IO, 8.482%, 02/15/32		50
	415		Series 2412, Class SP, IF, 15.765%, 02/15/32		574
	692		Series 2420, Class XK, 6.500%, 02/15/32		749
	505		Series 2423, Class MC, 7.000%, 03/15/32		588

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	475	Series 2423, Class MT, 7.000%, 03/15/32		550
	153	Series 2425, Class OB, 6.000%, 03/15/17		162
	1,015	Series 2430, Class WF, 6.500%, 03/15/32		1,156
	546	Series 2434, Class TC, 7.000%, 04/15/32		618
	565	Series 2435, Class CJ, 6.500%, 04/15/32		623
	467	Series 2436, Class MC, 7.000%, 04/15/32		533
	379	Series 2444, Class ES, IF, IO, 7.782%, 03/15/32		72
	264	Series 2450, Class GZ, 7.000%, 05/15/32		305
	303	Series 2450, Class SW, IF, IO, 7.832%, 03/15/32		61
	1,369	Series 2455, Class GK, 6.500%, 05/15/32		1,558
	85	Series 2458, Class QE, 5.500%, 06/15/17		90
	462	Series 2462, Class JG, 6.500%, 06/15/32		526
	1,012	Series 2464, Class SI, IF, IO, 7.832%, 02/15/32		197
	38	Series 2466, Class PG, 6.500%, 04/15/32		39
	942	Series 2466, Class PH, 6.500%, 06/15/32		1,033
	446	Series 2474, Class NR, 6.500%, 07/15/32		508
	603	Series 2484, Class LZ, 6.500%, 07/15/32		680
	826	Series 2500, Class MC, 6.000%, 09/15/32		917
	59	Series 2503, Class BH, 5.500%, 09/15/17		62
	267	Series 2508, Class AQ, 5.500%, 10/15/17		286
	597	Series 2512, Class PG, 5.500%, 10/15/22		662
	335	Series 2535, Class BK, 5.500%, 12/15/22		372
	546	Series 2537, Class TE, 5.500%, 12/15/17		584
	1,162	Series 2543, Class YX, 6.000%, 12/15/32		1,304
	1,171	Series 2544, Class HC, 6.000%, 12/15/32		1,315
	1,297	Series 2552, Class ME, 6.000%, 01/15/33		1,456
	1,255	Series 2567, Class QD, 6.000%, 02/15/33		1,376
	838	Series 2568, Class KG, 5.500%, 02/15/23		921
	133	Series 2571, Class SK, HB, IF, 33.777%, 09/15/23		257
	3,042	Series 2575, Class ME, 6.000%, 02/15/33		3,412
	371	Series 2586, Class WI, IO, 6.500%, 03/15/33		79
	1,132	Series 2587, Class WX, 5.000%, 03/15/18		1,205
	834	Series 2596, Class QG, 6.000%, 03/15/33		929
	370	Series 2611, Class UH, 4.500%, 05/15/18		390
	667	Series 2617, Class GR, 4.500%, 05/15/18		704
	570	Series 2626, Class NS, IF, IO, 6.382%, 06/15/23		51
	767	Series 2631, Class LC, 4.500%, 06/15/18		807
	375	Series 2636, Class Z, 4.500%, 06/15/18		396
	480	Series 2637, Class SA, IF, IO, 5.932%, 06/15/18		41
	24	Series 2638, Class DS, IF, 8.432%, 07/15/23		28
	33	Series 2640, Class UG, IO, 5.000%, 01/15/32		—	(h)
	501	Series 2645, Class BI, IO, 4.500%, 02/15/18		6
	372	Series 2650, Class PO, PO, 12/15/32		364
	1,413	Series 2650, Class SO, PO, 12/15/32		1,391
	547	Series 2651, Class VZ, 4.500%, 07/15/18		578
	497	Series 2672, Class ME, 5.000%, 11/15/22		506
	2,434	Series 2675, Class CK, 4.000%, 09/15/18		2,571
	4,324	Series 2684, Class PO, PO, 01/15/33		4,299
	395	Series 2691, Class ME, 4.500%, 04/15/32		404
	146	Series 2692, Class SC, IF, 12.951%, 07/15/33		180
	753	Series 2695, Class DG, 4.000%, 10/15/18		795
	42	Series 2696, Class CO, PO, 10/15/18		41
	1,897	Series 2710, Class HB, 5.500%, 11/15/23		2,107
	562	Series 2715, Class OG, 5.000%, 01/15/23		576

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	1,210	Series 2716, Class UN, 4.500%, 12/15/23		1,305
	616	Series 2720, Class PC, 5.000%, 12/15/23		670
	652	Series 2744, Class PE, 5.500%, 02/15/34		697
	1,017	Series 2744, Class TU, 5.500%, 05/15/32		1,074
	95	Series 2755, Class SA, IF, 13.865%, 05/15/30		97
	154	Series 2764, Class TE, 5.000%, 10/15/32		157
	289	Series 2777, Class OM, PO, 12/15/32		286
	50	Series 2780, Class JG, 4.500%, 04/15/19		52
	1,284	Series 2783, Class AT, 4.000%, 04/15/19		1,361
	3,348	Series 2809, Class UC, 4.000%, 06/15/19		3,542
	199	Series 2827, Class XO, PO, 01/15/23		197
	94	Series 2835, Class QO, PO, 12/15/32		86
	183	Series 2840, Class JO, PO, 06/15/23		178
	385	Series 2922, Class JN, 4.500%, 02/15/20		409
	848	Series 2934, Class EC, PO, 02/15/20		845
	20	Series 2934, Class EN, PO, 02/15/18		20
	707	Series 2934, Class HI, IO, 5.000%, 02/15/20		70
	670	Series 2934, Class KI, IO, 5.000%, 02/15/20		64
	599	Series 2958, Class QD, 4.500%, 04/15/20		634
	1,432	Series 2962, Class BE, 4.500%, 04/15/20		1,535
	3,019	Series 2965, Class GD, 4.500%, 04/15/20		3,218
	205	Series 2971, Class GC, 5.000%, 07/15/18		207
	86	Series 2989, Class PO, PO, 06/15/23		84
	4,268	Series 2990, Class U2, 5.750%, 06/15/35		4,684
	1,483	Series 3004, Class EK, 5.500%, 07/15/35		1,562
	41	Series 3007, Class AI, IO, 5.500%, 07/15/24		1
	74	Series 3014, Class OD, PO, 08/15/35		60
	457	Series 3047, Class OB, 5.500%, 12/15/33		464
	944	Series 3047, Class OD, 5.500%, 10/15/35		1,054
	604	Series 3049, Class XF, VAR, 0.518%, 05/15/33		608
	3,095	Series 3064, Class MC, 5.500%, 11/15/35		3,474
	152	Series 3068, Class AO, PO, 01/15/35		150
	460	Series 3068, Class QB, 4.500%, 06/15/20		481
	2,141	Series 3074, Class BH, 5.000%, 11/15/35		2,374
	651	Series 3085, Class WF, VAR, 0.968%, 08/15/35		658
	1,165	Series 3102, Class FB, VAR, 0.468%, 01/15/36		1,167
	267	Series 3102, Class HS, HB, IF, 23.952%, 01/15/36		410
	1,173	Series 3117, Class EO, PO, 02/15/36		1,080
	676	Series 3117, Class OK, PO, 02/15/36		621
	17	Series 3122, Class ZB, 6.000%, 03/15/36		17
	2,484	Series 3131, Class BK, 5.500%, 03/15/26		2,762
	220	Series 3134, Class PO, PO, 03/15/36		205
	1,054	Series 3138, Class PO, PO, 04/15/36		979
	31	Series 3149, Class SO, PO, 05/15/36		24
	1,025	Series 3151, Class UC, 5.500%, 08/15/35		1,084
	755	Series 3152, Class MO, PO, 03/15/36		709
	219	Series 3171, Class MO, PO, 06/15/36		202
	920	Series 3179, Class OA, PO, 07/15/36		851
	261	Series 3194, Class SA, IF, IO, 6.932%, 07/15/36		45
	784	Series 3211, Class SO, PO, 09/15/36		730
	389	Series 3218, Class AO, PO, 09/15/36		364
	932	Series 3219, Class DI, IO, 6.000%, 04/15/36		166
	1,500	Series 3229, Class HE, 5.000%, 10/15/26		1,659
	837	Series 3232, Class ST, IF, IO, 6.532%, 10/15/36		140
	366	Series 3233, Class OP, PO, 05/15/36		324
	404	Series 3242, Class NE, 5.750%, 02/15/34		412
	524	Series 3256, Class PO, PO, 12/15/36		481

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	1,007	Series 3260, Class CS, IF, IO, 5.972%, 01/15/37		147
	544	Series 3261, Class OA, PO, 01/15/37		514
	348	Series 3274, Class JO, PO, 02/15/37		327
	258	Series 3275, Class FL, VAR, 0.608%, 02/15/37		258
	1,402	Series 3290, Class SB, IF, IO, 6.282%, 03/15/37		189
	2,889	Series 3315, Class HZ, 6.000%, 05/15/37		3,236
	110	Series 3318, Class AO, PO, 05/15/37		104
	201	Series 3326, Class JO, PO, 06/15/37		189
	663	Series 3331, Class PO, PO, 06/15/37		622
	701	Series 3385, Class SN, IF, IO, 5.832%, 11/15/37		95
	948	Series 3387, Class SA, IF, IO, 6.252%, 11/15/37		128
	1,472	Series 3404, Class SC, IF, IO, 5.832%, 01/15/38		194
	5,378	Series 3422, Class AI, IO, SUB, 0.250%, 01/15/38		56
	897	Series 3424, Class PI, IF, IO, 6.632%, 04/15/38		131
	1,605	Series 3481, Class SJ, IF, IO, 5.682%, 08/15/38		238
	1,329	Series 3505, Class SA, IF, IO, 5.832%, 01/15/39		175
	1,516	Series 3511, Class SA, IF, IO, 5.832%, 02/15/39		202
	545	Series 3549, Class FA, VAR, 1.368%, 07/15/39		552
	535	Series 3607, Class BO, PO, 04/15/36		499
	1,220	Series 3607, Class OP, PO, 07/15/37		1,142
	735	Series 3607, Class PO, PO, 05/15/37		696
	232	Series 3611, Class PO, PO, 07/15/34		215
	636	Series 3621, Class BO, PO, 01/15/40		601
	719	Series 3720, Class A, 4.500%, 09/15/25		781
	2,219	Series 3739, Class LI, IO, 4.000%, 03/15/34		146
	5,883	Series 3747, Class HI, IO, 4.500%, 07/15/37		623
	1,000	Series 3747, Class PY, 4.000%, 10/15/40		992
	2,783	Series 3759, Class HI, IO, 4.000%, 08/15/37		331
	2,686	Series 3760, Class GI, IO, 4.000%, 10/15/37		254
	9,334	Series 3774, Class EW, 3.500%, 12/15/25		9,561
	206	Series 3798, Class BF, VAR, 0.468%, 06/15/24		206
	1,063	Series 3804, Class FN, VAR, 0.618%, 03/15/39		1,060
	4,695	Series 3819, Class ZQ, 6.000%, 04/15/36		5,213
	839	Series 3852, Class QN, IF, 5.500%, 05/15/41		908
	2,315	Series 3852, Class TP, IF, 5.500%, 05/15/41		2,486
	3,000	Series 3920, Class LP, 5.000%, 01/15/34		3,285
	1,639	Series 3925, Class FL, VAR, 0.618%, 01/15/41		1,644
	1,362	Series 3957, Class B, 4.000%, 11/15/41		1,410
	1,630	Series 3966, Class NA, 4.000%, 12/15/41		1,665
	1,229	Series 3997, Class PF, VAR, 0.618%, 11/15/39		1,228
	3,774	Series 4048, Class FJ, VAR, 0.568%, 07/15/37		3,755
	2,000	Series 4217, Class KY, 3.000%, 06/15/43		1,725
	8,269	Series 4219, Class JA, 3.500%, 08/15/39		8,524
	2,501	Series 4240, Class B, 3.000%, 08/15/33		2,178
	1,300	Series 4244, Class GL, 3.000%, 08/15/33		1,139
		Federal Home Loan Mortgage Corp. STRIPS,
	2	Series 134, Class B, IO, 9.000%, 04/01/22		1
	1,731	Series 233, Class 11, IO, 5.000%, 09/15/35		307
	2,464	Series 233, Class 13, IO, 5.000%, 09/15/35		437
	495	Series 243, Class 16, IO, 4.500%, 11/15/20		39
	1,119	Series 243, Class 17, IO, 4.500%, 12/15/20		92
	8,916	Series 262, Class 35, 3.500%, 07/15/42		9,059
	2,519	Series 264, Class F1, VAR, 0.718%, 07/15/42		2,503
	2,331	Series 267, Class F5, VAR, 0.668%, 08/15/42		2,333

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	2,860		Series 281, Class F1, VAR, 0.668%, 10/15/42		2,843
	9,590		Series 299, Class 300, 3.000%, 01/15/43		9,444
	2,520		Series 310, Class PO, PO, 09/15/43		1,790
			Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	589		Series T-41, Class 3A, VAR, 6.380%, 07/25/32		679
	342		Series T-51, Class 2A, VAR, 7.500%, 08/25/42		405
	2,023		Series T-54, Class 2A, 6.500%, 02/25/43		2,402
	602		Series T-54, Class 3A, 7.000%, 02/25/43		702
	246		Series T-58, Class APO, PO, 09/25/43		202
	540		Series T-59, Class 1AP, PO, 10/25/43		462
	2,134		Series T-76, Class 2A, VAR, 3.287%, 10/25/37		2,138
			Federal National Mortgage Association - ACES,
	3,300		Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		3,653
	1,416		Series 2011-M2, Class A2, 3.645%, 07/25/21		1,508
	8,500		Series 2011-M2, Class A3, 3.764%, 07/25/21		9,003
	926		Series 2012-M11, Class FA, VAR, 0.702%, 08/25/19		932
	4,100		Series 2012-M9, Class A2, 2.482%, 04/25/22		3,897
	4,200		Series 2013-M13, Class A2, VAR, 2.624%, 04/25/23		3,986
	1,878		Series 2013-M7, Class A2, 2.280%, 12/27/22		1,746
	8,000		Series 2013-M9, Class A2, VAR, 2.389%, 01/25/23		7,505
			Federal National Mortgage Association Grantor Trust,
	983		Series 2002-T19, Class A2, 7.000%, 07/25/42		1,162
	765		Series 2004-T3, Class 1A3, 7.000%, 02/25/44		873
			Federal National Mortgage Association REMIC,
	6		Series 1988-7, Class Z, 9.250%, 04/25/18		6
	12		Series 1989-70, Class G, 8.000%, 10/25/19		14
	5		Series 1989-78, Class H, 9.400%, 11/25/19		5
	10		Series 1989-83, Class H, 8.500%, 11/25/19		11
	8		Series 1989-89, Class H, 9.000%, 11/25/19		9
	7		Series 1990-1, Class D, 8.800%, 01/25/20		8
	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
	–	(h)	Series 1990-95, Class J, HB, 1,118.040%, 08/25/20		1
	17		Series 1990-102, Class J, 6.500%, 08/25/20		19
	22		Series 1990-120, Class H, 9.000%, 10/25/20		25
	2		Series 1990-134, Class SC, HB, IF, 21.351%, 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)
	9		Series 1991-24, Class Z, 5.000%, 03/25/21		10
	1		Series 1992-101, Class J, 7.500%, 06/25/22		1
	47		Series 1992-136, Class PK, 6.000%, 08/25/22		51
	32		Series 1992-143, Class MA, 5.500%, 09/25/22		34
	107		Series 1992-163, Class M, 7.750%, 09/25/22		122
	176		Series 1992-188, Class PZ, 7.500%, 10/25/22		200
	71		Series 1993-21, Class KA, 7.700%, 03/25/23		81
	119		Series 1993-25, Class J, 7.500%, 03/25/23		136
	28		Series 1993-27, Class SA, IF, 15.500%, 02/25/23		39
	41		Series 1993-62, Class SA, IF, 18.300%, 04/25/23		62
	21		Series 1993-165, Class SD, IF, 12.826%, 09/25/23		27
	46		Series 1993-165, Class SK, IF, 12.500%, 09/25/23		56

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	31		Series 1993-179, Class SB, HB, IF, 25.563%, 10/25/23		50
	21		Series 1993-179, Class SC, IF, 10.500%, 10/25/23		24
	56		Series 1993-199, Class FA, VAR, 0.716%, 10/25/23		56
	59		Series 1993-205, Class H, PO, 09/25/23		54
	92		Series 1993-225, Class UB, 6.500%, 12/25/23		107
	31		Series 1993-230, Class FA, VAR, 0.766%, 12/25/23		31
	86		Series 1993-247, Class FE, VAR, 1.166%, 12/25/23		88
	40		Series 1993-247, Class SU, IF, 11.993%, 12/25/23		53
	86		Series 1993-250, Class Z, 7.000%, 12/25/23		89
	336		Series 1994-37, Class L, 6.500%, 03/25/24		374
	1,650		Series 1994-40, Class Z, 6.500%, 03/25/24		1,832
	76		Series 1995-2, Class Z, 8.500%, 01/25/25		90
	269		Series 1995-19, Class Z, 6.500%, 11/25/23		311
	358		Series 1996-14, Class SE, IF, IO, 8.200%, 08/25/23		62
	10		Series 1996-27, Class FC, VAR, 0.666%, 03/25/17		10
	32		Series 1996-59, Class J, 6.500%, 08/25/22		35
	365		Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		16
	25		Series 1997-27, Class J, 7.500%, 04/18/27		28
	54		Series 1997-29, Class J, 7.500%, 04/20/27		63
	338		Series 1997-39, Class PD, 7.500%, 05/20/27		400
	34		Series 1997-42, Class ZC, 6.500%, 07/18/27		38
	639		Series 1997-61, Class ZC, 7.000%, 02/25/23		727
	104		Series 1997-81, Class PI, IO, 7.000%, 12/18/27		22
	13		Series 1998-4, Class C, PO, 04/25/23		12
	230		Series 1998-36, Class ZB, 6.000%, 07/18/28		254
	122		Series 1998-43, Class SA, IF, IO, 17.797%, 04/25/23		45
	218		Series 1998-66, Class SB, IF, IO, 7.984%, 12/25/28		38
	117		Series 1999-17, Class C, 6.350%, 04/25/29		133
	641		Series 1999-18, Class Z, 5.500%, 04/18/29		704
	154		Series 1999-38, Class SK, IF, IO, 7.884%, 08/25/23		18
	57		Series 1999-52, Class NS, HB, IF, 22.915%, 10/25/23		93
	163		Series 1999-62, Class PB, 7.500%, 12/18/29		190
	514		Series 2000-2, Class ZE, 7.500%, 02/25/30		598
	295		Series 2000-20, Class SA, IF, IO, 8.934%, 07/25/30		71
	37		Series 2000-52, Class IO, IO, 8.500%, 01/25/31		9
	178		Series 2001-4, Class PC, 7.000%, 03/25/21		198
	–	(h)	Series 2001-5, Class OW, 6.000%, 03/25/16		—	(h)
	105		Series 2001-7, Class PF, 7.000%, 03/25/31		122
	34		Series 2001-7, Class PR, 6.000%, 03/25/16		34
	23		Series 2001-10, Class PR, 6.000%, 04/25/16		23
	353		Series 2001-30, Class PM, 7.000%, 07/25/31		407
	382		Series 2001-33, Class ID, IO, 6.000%, 07/25/31		82
	351		Series 2001-36, Class DE, 7.000%, 08/25/31		408
	776		Series 2001-44, Class MY, 7.000%, 09/25/31		901
	128		Series 2001-44, Class PD, 7.000%, 09/25/31		146
	121		Series 2001-44, Class PU, 7.000%, 09/25/31		141
	1,348		Series 2001-48, Class Z, 6.500%, 09/25/21		1,511
	109		Series 2001-49, Class Z, 6.500%, 09/25/31		122
	93		Series 2001-52, Class KB, 6.500%, 10/25/31		106
	114		Series 2001-52, Class XN, 6.500%, 11/25/15		119
	1,144		Series 2001-61, Class Z, 7.000%, 11/25/31		1,310

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	93	Series 2001-71, Class MB, 6.000%, 12/25/16		98
	201	Series 2001-71, Class QE, 6.000%, 12/25/16		211
	54	Series 2001-72, Class SX, IF, 17.079%, 12/25/31		81
	323	Series 2001-74, Class MB, 6.000%, 12/25/16		341
	105	Series 2002-1, Class HC, 6.500%, 02/25/22		117
	123	Series 2002-1, Class SA, HB, IF, 24.648%, 02/25/32		216
	86	Series 2002-1, Class UD, HB, IF, 23.919%, 12/25/23		140
	269	Series 2002-2, Class UC, 6.000%, 02/25/17		284
	654	Series 2002-3, Class OG, 6.000%, 02/25/17		687
	142	Series 2002-7, Class OG, 6.000%, 03/25/17		150
	414	Series 2002-7, Class TG, 6.000%, 03/25/17		435
	155	Series 2002-10, Class SB, IF, 18.802%, 03/25/17		190
	1,198	Series 2002-13, Class SJ, IF, IO, 1.600%, 03/25/32		42
	18	Series 2002-13, Class ST, IF, 10.000%, 03/25/32		22
	18	Series 2002-18, Class PC, 5.500%, 04/25/17		18
	147	Series 2002-19, Class PE, 6.000%, 04/25/17		155
	37	Series 2002-21, Class LO, PO, 04/25/32		33
	359	Series 2002-21, Class PE, 6.500%, 04/25/32		395
	348	Series 2002-24, Class AJ, 6.000%, 04/25/17		369
	112	Series 2002-25, Class SG, IF, 18.922%, 05/25/17		140
	911	Series 2002-28, Class PK, 6.500%, 05/25/32		1,037
	212	Series 2002-37, Class Z, 6.500%, 06/25/32		239
	258	Series 2002-42, Class C, 6.000%, 07/25/17		275
	1,237	Series 2002-48, Class GH, 6.500%, 08/25/32		1,409
	554	Series 2002-62, Class ZE, 5.500%, 11/25/17		591
	150	Series 2002-63, Class KC, 5.000%, 10/25/17		159
	215	Series 2002-77, Class S, IF, 14.179%, 12/25/32		282
	700	Series 2002-83, Class CS, 6.881%, 08/25/23		794
	1,151	Series 2002-94, Class BK, 5.500%, 01/25/18		1,218
	552	Series 2003-3, Class HJ, 5.000%, 02/25/18		587
	2,524	Series 2003-22, Class UD, 4.000%, 04/25/33		2,680
	1,316	Series 2003-33, Class IA, IO, 6.500%, 05/25/33		301
	872	Series 2003-34, Class AX, 6.000%, 05/25/33		976
	1,516	Series 2003-34, Class ED, 6.000%, 05/25/33		1,724
	53	Series 2003-35, Class UC, 3.750%, 05/25/33		56
	155	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		29
	1,319	Series 2003-39, Class LW, 5.500%, 05/25/23		1,468
	1,259	Series 2003-41, Class PE, 5.500%, 05/25/23		1,381
	332	Series 2003-42, Class GB, 4.000%, 05/25/33		357
	64	Series 2003-45, Class AI, IO, 5.500%, 05/25/33		2
	583	Series 2003-47, Class PE, 5.750%, 06/25/33		644
	234	Series 2003-52, Class SX, HB, IF, 22.452%, 10/25/31		405
	165	Series 2003-64, Class SX, IF, 13.330%, 07/25/33		196
	592	Series 2003-71, Class DS, IF, 7.243%, 08/25/33		606
	422	Series 2003-71, Class IM, IO, 5.500%, 12/25/31		17
	1,312	Series 2003-72, Class IE, IO, 5.500%, 08/25/33		221
	104	Series 2003-74, Class SH, IF, 9.871%, 08/25/33		105
	447	Series 2003-76, Class GQ, 4.500%, 08/25/18		474
	1,113	Series 2003-80, Class SY, IF, IO, 7.484%, 06/25/23		102
	806	Series 2003-81, Class LC, 4.500%, 09/25/18		854
	1,726	Series 2003-83, Class PG, 5.000%, 06/25/23		1,843

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	316	Series 2003-91, Class SD, IF, 12.223%, 09/25/33		391
	1,810	Series 2003-116, Class SB, IF, IO, 7.434%, 11/25/33		359
	492	Series 2003-122, Class TE, 5.000%, 12/25/22		500
	1	Series 2003-128, Class KE, 4.500%, 01/25/14		1
	483	Series 2003-128, Class NG, 4.000%, 01/25/19		510
	137	Series 2003-130, Class SX, IF, 11.271%, 01/25/34		164
	166	Series 2003-132, Class OA, PO, 08/25/33		160
	1,664	Series 2004-4, Class QI, IF, IO, 6.934%, 06/25/33		241
	157	Series 2004-4, Class QM, IF, 13.868%, 06/25/33		195
	802	Series 2004-10, Class SC, HB, IF, 27.936%, 02/25/34		1,111
	816	Series 2004-25, Class PC, 5.500%, 01/25/34		877
	1,303	Series 2004-25, Class SA, IF, 19.069%, 04/25/34		1,820
	2,676	Series 2004-27, Class HB, 4.000%, 05/25/19		2,836
	559	Series 2004-36, Class PC, 5.500%, 02/25/34		600
	1,584	Series 2004-36, Class SA, IF, 19.069%, 05/25/34		2,202
	543	Series 2004-36, Class SN, IF, 13.868%, 07/25/33		656
	1,795	Series 2004-37, Class AG, 4.500%, 11/25/32		1,854
	644	Series 2004-46, Class QB, HB, IF, 23.336%, 05/25/34		1,000
	2,088	Series 2004-46, Class SK, IF, 16.044%, 05/25/34		2,694
	346	Series 2004-51, Class SY, IF, 13.908%, 07/25/34		449
	379	Series 2004-53, Class NC, 5.500%, 07/25/24		421
	487	Series 2004-59, Class BG, PO, 12/25/32		447
	1,012	Series 2004-61, Class FH, VAR, 0.966%, 11/25/32		1,022
	134	Series 2004-61, Class SK, IF, 8.500%, 11/25/32		158
	343	Series 2004-76, Class CL, 4.000%, 10/25/19		362
	620	Series 2004-79, Class SP, IF, 19.343%, 11/25/34		845
	150	Series 2004-81, Class AC, 4.000%, 11/25/19		159
	10	Series 2004-92, Class JO, PO, 12/25/34		10
	175	Series 2005-52, Class PA, 6.500%, 06/25/35		188
	1,840	Series 2005-56, Class S, IF, IO, 6.544%, 07/25/35		378
	390	Series 2005-66, Class SG, IF, 16.960%, 07/25/35		519
	811	Series 2005-68, Class BC, 5.250%, 06/25/35		881
	1,802	Series 2005-68, Class PG, 5.500%, 08/25/35		1,988
	1,097	Series 2005-68, Class UC, 5.000%, 06/25/35		1,190
	810	Series 2005-74, Class CS, IF, 19.564%, 05/25/35		1,133
	7,143	Series 2005-84, Class XM, 5.750%, 10/25/35		7,861
	3,137	Series 2005-109, Class PC, 6.000%, 12/25/35		3,499
	11,813	Series 2005-110, Class GK, 5.500%, 08/25/34		12,519
	4,326	Series 2005-110, Class GL, 5.500%, 12/25/35		4,769
	2,890	Series 2005-110, Class MN, 5.500%, 06/25/35		3,114
	751	Series 2005-116, Class PB, 6.000%, 04/25/34		795
	237	Series 2006-15, Class OT, PO, 01/25/36		227
	612	Series 2006-16, Class OA, PO, 03/25/36		565
	797	Series 2006-22, Class AO, PO, 04/25/36		742
	269	Series 2006-23, Class KO, PO, 04/25/36		256
	2,584	Series 2006-39, Class WC, 5.500%, 01/25/36		2,828
	138	Series 2006-42, Class CF, VAR, 0.616%, 06/25/36		138
	1,381	Series 2006-44, Class GO, PO, 06/25/36		1,282
	3,035	Series 2006-44, Class P, PO, 12/25/33		2,813
	1,886	Series 2006-46, Class UC, 5.500%, 12/25/35		2,093
	2,029	Series 2006-53, Class US, IF, IO, 6.414%, 06/25/36		316
	1,799	Series 2006-56, Class FC, VAR, 0.456%, 07/25/36		1,797
	1,800	Series 2006-56, Class PF, VAR, 0.516%, 07/25/36		1,804

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	1,008	Series 2006-56, Class PO, PO, 07/25/36		912
	1,437	Series 2006-58, Class AP, PO, 07/25/36		1,312
	153	Series 2006-58, Class FL, VAR, 0.626%, 07/25/36		154
	614	Series 2006-58, Class PO, PO, 07/25/36		558
	943	Series 2006-59, Class QO, PO, 01/25/33		935
	3,235	Series 2006-60, Class DZ, 6.500%, 07/25/36		3,753
	937	Series 2006-65, Class QO, PO, 07/25/36		869
	243	Series 2006-72, Class TO, PO, 08/25/36		222
	3,781	Series 2006-77, Class PC, 6.500%, 08/25/36		4,276
	780	Series 2006-79, Class DO, PO, 08/25/36		724
	626	Series 2006-90, Class AO, PO, 09/25/36		596
	258	Series 2006-109, Class PO, PO, 11/25/36		241
	2,006	Series 2006-110, Class PO, PO, 11/25/36		1,859
	168	Series 2006-111, Class EO, PO, 11/25/36		159
	1,018	Series 2006-118, Class A2, VAR, 0.226%, 12/25/36		995
	275	Series 2006-119, Class PO, PO, 12/25/36		254
	4,246	Series 2006-124, Class HB, VAR, 5.968%, 11/25/36		4,397
	1,000	Series 2006-128, Class BP, 5.500%, 01/25/37		1,116
	1,098	Series 2006-130, Class GI, IO, 6.500%, 07/25/32		172
	857	Series 2007-7, Class SG, IF, IO, 6.334%, 08/25/36		163
	3,171	Series 2007-14, Class ES, IF, IO, 6.274%, 03/25/37		438
	287	Series 2007-15, Class NO, PO, 03/25/22		284
	1,165	Series 2007-16, Class FC, VAR, 0.916%, 03/25/37		1,158
	379	Series 2007-42, Class AO, PO, 05/25/37		372
	425	Series 2007-46, Class VK, 5.500%, 03/25/22		427
	426	Series 2007-48, Class PO, PO, 05/25/37		390
	1,423	Series 2007-54, Class FA, VAR, 0.566%, 06/25/37		1,425
	6,924	Series 2007-60, Class AX, IF, IO, 6.984%, 07/25/37		1,069
	327	Series 2007-77, Class FG, VAR, 0.666%, 03/25/37		328
	1,400	Series 2007-81, Class GE, 6.000%, 08/25/37		1,569
	2,501	Series 2007-84, Class PG, 6.000%, 12/25/36		2,659
	4,379	Series 2007-88, Class VI, IF, IO, 6.374%, 09/25/37		641
	2,964	Series 2007-91, Class ES, IF, IO, 6.294%, 10/25/37		449
	1,951	Series 2007-97, Class KI, IO, 7.000%, 05/25/33		491
	3,423	Series 2007-101, Class A2, VAR, 0.416%, 06/27/36		3,370
	814	Series 2007-106, Class A7, VAR, 6.007%, 10/25/37		912
	3,000	Series 2007-114, Class A6, VAR, 0.366%, 10/27/37		3,002
	2,296	Series 2007-116, Class HI, IO, VAR, 1.555%, 01/25/38		147
	66	Series 2007-118, Class IO, IO, 6.000%, 06/25/36		4
	1,768	Series 2008-1, Class BI, IF, IO, 5.744%, 02/25/38		216
	1,338	Series 2008-10, Class XI, IF, IO, 6.064%, 03/25/38		193
	753	Series 2008-16, Class IS, IF, IO, 6.034%, 03/25/38		117
	942	Series 2008-19, Class IC, IO, 5.000%, 03/25/23		74
	1,000	Series 2008-24, Class DY, 5.000%, 04/25/23		1,071
	779	Series 2008-27, Class SN, IF, IO, 6.734%, 04/25/38		116
	469	Series 2008-39, Class CI, IO, 4.500%, 05/25/18		32
	552	Series 2008-42, Class AO, PO, 09/25/36		533
	64	Series 2008-44, Class PO, PO, 05/25/38		59
	895	Series 2008-47, Class SI, IF, IO, 6.334%, 06/25/23		103
	1,083	Series 2008-53, Class CI, IF, IO, 7.034%, 07/25/38		169
	501	Series 2008-76, Class GF, VAR, 0.816%, 09/25/23		504
	2,422	Series 2008-80, Class SA, IF, IO, 5.684%, 09/25/38		350
	1,520	Series 2008-81, Class SB, IF, IO, 5.684%, 09/25/38		218
	2,161	Series 2009-6, Class GS, IF, IO, 6.384%, 02/25/39		339

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	971		Series 2009-9, Class IO, IO, 5.000%, 02/25/24		96
	927		Series 2009-18, Class IO, IO, 5.000%, 03/25/24		80
	2,500		Series 2009-19, Class IP, IO, 5.500%, 10/25/36		522
	1,557		Series 2009-60, Class HT, 6.000%, 08/25/39		1,777
	1,099		Series 2009-62, Class HJ, 6.000%, 05/25/39		1,210
	1,598		Series 2009-70, Class CO, PO, 01/25/37		1,509
	1,308		Series 2009-86, Class UI, IO, 4.000%, 10/25/14		35
	1,118		Series 2009-99, Class SC, IF, IO, 6.014%, 12/25/39		115
	1,106		Series 2009-103, Class MB, VAR, 2.666%, 12/25/39		1,144
	1,619		Series 2010-45, Class BD, 4.500%, 11/25/38		1,700
	1,741		Series 2010-49, Class SC, IF, 12.328%, 03/25/40		2,097
	1,131		Series 2010-64, Class DM, 5.000%, 06/25/40		1,244
	1,301		Series 2010-71, Class HJ, 5.500%, 07/25/40		1,449
	2,885		Series 2010-133, Class A, 5.500%, 05/25/38		3,120
	3,400		Series 2010-147, Class SA, IF, IO, 6.364%, 01/25/41		692
	1,577		Series 2010-148, Class MA, 4.000%, 02/25/39		1,633
	1,536		Series 2011-2, Class WA, VAR, 5.820%, 02/25/51		1,654
	2,006		Series 2011-22, Class MA, 6.500%, 04/25/38		2,278
	3,836		Series 2011-30, Class LS, IO, VAR, 2.697%, 04/25/41		227
	2,500		Series 2011-31, Class DB, 3.500%, 04/25/31		2,500
	7,500		Series 2011-44, Class EB, 3.000%, 05/25/26		7,426
	996		Series 2011-75, Class FA, VAR, 0.716%, 08/25/41		1,001
	1,922		Series 2011-118, Class MT, 7.000%, 11/25/41		2,243
	2,633		Series 2011-130, Class CA, 6.000%, 12/25/41		2,927
	1,608		Series 2012-14, Class FB, VAR, 0.616%, 08/25/37		1,613
	9,087		Series 2012-47, Class HF, VAR, 0.566%, 05/25/27		9,106
	3,000		Series 2012-66, Class CB, 3.000%, 06/25/32		2,656
	6,041		Series 2012-99, Class AE, 2.500%, 05/25/39		5,925
	3,758		Series 2012-108, Class F, VAR, 0.666%, 10/25/42		3,749
	4,722		Series 2012-137, Class CF, VAR, 0.466%, 08/25/41		4,669
	2,000		Series 2013-81, Class TA, 3.000%, 02/25/43		1,935
	1,694		Series 2013-90, Class PM, 3.500%, 09/25/43		1,499
	2,444		Series 2013-92, Class PO, PO, 09/25/43		1,831
	3,349		Series 2013-101, Class AE, 3.000%, 10/25/33		3,075
	3,728		Series 2013-101, Class DO, PO, 10/25/43		2,730
	3,000		Series 2013-101, Class E, 3.000%, 10/25/33		2,695
	3,500		Series 2013-103, Class VG, 3.000%, 03/25/30		3,276
	4,000		Series 2013-108, Class GU, 3.000%, 10/25/33		3,651
	–	(h)	Series G-17, Class S, HB, VAR, 1,063.794%, 06/25/21		7
	24		Series G-28, Class S, IF, 14.934%, 09/25/21		31
	30		Series G-35, Class M, 8.750%, 10/25/21		34
	10		Series G-51, Class SA, HB, IF, 24.575%, 12/25/21		15
	–	(h)	Series G92-27, Class SQ, HB, IF, 1,844.150%, 05/25/22		1
	151		Series G92-35, Class E, 7.500%, 07/25/22		169
	–	(h)	Series G92-35, Class G, HB, 1,184.775%, 07/25/22		3
	18		Series G92-42, Class Z, 7.000%, 07/25/22		20
	433		Series G92-44, Class ZQ, 8.000%, 07/25/22		476
	24		Series G92-52, Class FD, VAR, 0.187%, 09/25/22		24
	175		Series G92-54, Class ZQ, 7.500%, 09/25/22		197
	23		Series G92-59, Class F, VAR, 1.657%, 10/25/22		23
	45		Series G92-61, Class Z, 7.000%, 10/25/22		53
	30		Series G92-62, Class B, PO, 10/25/22		29

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	159		Series G93-1, Class KA, 7.900%, 01/25/23		183
	36		Series G93-5, Class Z, 6.500%, 02/25/23		41
	44		Series G93-14, Class J, 6.500%, 03/25/23		50
	107		Series G93-17, Class SI, IF, 6.000%, 04/25/23		123
	98		Series G93-27, Class FD, VAR, 1.046%, 08/25/23		99
	24		Series G93-37, Class H, PO, 09/25/23		22
	45		Series G95-1, Class C, 8.800%, 01/25/25		52
			Federal National Mortgage Association REMIC Trust,
	996		Series 2003-W1, Class 1A1, VAR, 5.970%, 12/25/42		1,136
	380		Series 2003-W1, Class 2A, VAR, 6.731%, 12/25/42		446
	155		Series 2003-W4, Class 2A, VAR, 6.412%, 10/25/42		164
	86		Series 2007-W7, Class 1A4, HB, IF, 38.184%, 07/25/37		157
	2,540		Series 2009-W1, Class A, 6.000%, 12/25/49		2,916
			Federal National Mortgage Association STRIPS,
	2		Series 23, Class 2, IO, 10.000%, 09/01/17		—	(h)
	–	(h)	Series 50, Class 2, IO, 10.500%, 03/01/19		—	(h)
	14		Series 218, Class 2, IO, 7.500%, 04/01/23		3
	15		Series 265, Class 2, 9.000%, 03/01/24		18
	184		Series 329, Class 1, PO, 01/01/33		170
	566		Series 339, Class 18, IO, 4.500%, 07/01/18		38
	804		Series 339, Class 21, IO, 4.500%, 08/25/18		53
	405		Series 339, Class 28, IO, 5.500%, 07/01/18		31
	231		Series 345, Class 6, IO, VAR, 5.000%, 12/01/33		40
	866		Series 351, Class 7, IO, VAR, 5.000%, 04/01/34		133
	718		Series 355, Class 11, IO, 6.000%, 07/01/34		122
	331		Series 355, Class 31, IO, VAR, 4.500%, 12/01/18		23
	1,274		Series 365, Class 8, IO, 5.500%, 05/01/36		240
	172		Series 368, Class 3, IO, 4.500%, 11/01/20		12
	657		Series 374, Class 5, IO, 5.500%, 08/01/36		101
	364		Series 383, Class 32, IO, 6.000%, 01/01/38		61
	954		Series 383, Class 33, IO, 6.000%, 01/01/38		159
	211		Series 393, Class 6, IO, 5.500%, 04/25/37		32
			Federal National Mortgage Association Trust,
	262		Series 2004-W1, Class 2A2, 7.000%, 12/25/33		303
	1,198		Series 2004-W15, Class 2AF, VAR, 0.416%, 08/25/44		1,187
	833		Series 2004-W2, Class 2A2, 7.000%, 02/25/44		976
	2,930		Series 2005-W3, Class 2AF, VAR, 0.386%, 03/25/45		2,924
	1,034		Series 2006-W2, Class 1AF1, VAR, 0.386%, 02/25/36		1,023
			Government National Mortgage Association,
	1,615		Series 1994-7, Class PQ, 6.500%, 10/16/24		1,884
	224		Series 1998-26, Class K, 7.500%, 09/17/25		258
	1,098		Series 1999-4, Class ZB, 6.000%, 02/20/29		1,238
	1,087		Series 1999-10, Class ZC, 6.500%, 04/20/29		1,241
	104		Series 1999-30, Class S, IF, IO, 8.432%, 08/16/29		24
	16		Series 1999-33, Class SM, IF, 9.200%, 09/16/29		18
	218		Series 1999-40, Class ZW, 7.500%, 11/20/29		258
	319		Series 1999-41, Class Z, 8.000%, 11/16/29		384
	112		Series 1999-44, Class PC, 7.500%, 12/20/29		132
	2,269		Series 1999-44, Class ZC, 8.500%, 12/16/29		2,717
	388		Series 1999-44, Class ZG, 8.000%, 12/20/29		467
	152		Series 2000-9, Class Z, 8.000%, 06/20/30		185

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	1,472	Series 2000-9, Class ZJ, 8.500%, 02/16/30		1,790
	253	Series 2000-12, Class ST, HB, IF, 38.660%, 02/16/30		577
	80	Series 2000-16, Class ZN, 7.500%, 02/16/30		82
	2,012	Series 2000-21, Class Z, 9.000%, 03/16/30		2,442
	15	Series 2000-30, Class ST, IF, 11.050%, 12/16/22		18
	296	Series 2000-31, Class Z, 9.000%, 10/20/30		348
	170	Series 2000-35, Class ZA, 9.000%, 11/20/30		183
	26	Series 2000-36, Class IK, IO, 9.000%, 11/16/30		6
	125	Series 2001-6, Class SD, IF, IO, 8.382%, 03/16/31		32
	236	Series 2001-7, Class PK, 6.500%, 03/20/31		270
	13	Series 2001-32, Class WA, IF, 19.705%, 07/20/31		21
	210	Series 2001-35, Class SA, IF, IO, 8.083%, 08/16/31		49
	168	Series 2001-36, Class S, IF, IO, 7.882%, 08/16/31		39
	884	Series 2001-64, Class MQ, 6.500%, 12/20/31		1,035
	224	Series 2002-3, Class SP, IF, IO, 7.223%, 01/16/32		48
	292	Series 2002-7, Class PG, 6.500%, 01/20/32		334
	902	Series 2002-24, Class AG, IF, IO, 7.783%, 04/16/32		190
	78	Series 2002-24, Class SB, IF, 11.674%, 04/16/32		102
	1,996	Series 2002-31, Class SE, IF, IO, 7.333%, 04/16/30		365
	568	Series 2002-40, Class UK, 6.500%, 06/20/32		658
	31	Series 2002-41, Class SV, IF, 9.000%, 06/16/32		35
	2,138	Series 2002-45, Class QE, 6.500%, 06/20/32		2,474
	736	Series 2002-47, Class PG, 6.500%, 07/16/32		854
	1,363	Series 2002-47, Class ZA, 6.500%, 07/20/32		1,578
	40	Series 2002-51, Class SG, HB, IF, 31.772%, 04/20/31		85
	1,187	Series 2002-52, Class GH, 6.500%, 07/20/32		1,343
	608	Series 2002-70, Class PS, IF, IO, 7.532%, 08/20/32		57
	949	Series 2002-75, Class PB, 6.000%, 11/20/32		1,102
	980	Series 2003-11, Class SK, IF, IO, 7.532%, 02/16/33		192
	399	Series 2003-12, Class SP, IF, IO, 7.532%, 02/20/33		83
	87	Series 2003-24, Class PO, PO, 03/16/33		80
	1,319	Series 2003-40, Class TJ, 6.500%, 03/20/33		1,544
	753	Series 2003-46, Class MG, 6.500%, 05/20/33		887
	1,105	Series 2003-46, Class TC, 6.500%, 03/20/33		1,268
	359	Series 2003-52, Class AP, PO, 06/16/33		332
	2,007	Series 2003-58, Class BE, 6.500%, 01/20/33		2,307
	100	Series 2003-76, Class LS, IF, IO, 7.032%, 09/20/31		1
	107	Series 2003-90, Class PO, PO, 10/20/33		91
	1,305	Series 2003-112, Class SA, IF, IO, 6.383%, 12/16/33		221
	1,299	Series 2003-112, Class TS, IF, IO, 6.782%, 10/20/32		105
	3,760	Series 2004-11, Class SW, IF, IO, 5.332%, 02/20/34		487
	171	Series 2004-15, Class SA, IF, 19.200%, 12/20/32		195
	468	Series 2004-28, Class S, IF, 19.202%, 04/16/34		662
	113	Series 2004-68, Class PO, PO, 05/20/31		112
	182	Series 2004-73, Class AE, IF, 14.510%, 08/17/34		231
	2,117	Series 2004-90, Class SI, IF, IO, 5.932%, 10/20/34		325
	1,457	Series 2005-3, Class SB, IF, IO, 5.932%, 01/20/35		216
	3,648	Series 2005-17, Class SL, IF, IO, 6.532%, 07/20/34		668
	360	Series 2005-35, Class FL, VAR, 0.518%, 03/20/32		361
	105	Series 2005-39, Class KI, IO, 5.500%, 03/20/34		7
	3,195	Series 2005-58, Class NI, IO, 5.500%, 08/20/35		681

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	389	Series 2005-68, Class DP, IF, 16.030%, 06/17/35		529
	5,224	Series 2005-68, Class KI, IF, IO, 6.132%, 09/20/35		761
	729	Series 2005-69, Class SY, IF, IO, 6.582%, 11/20/33		116
	678	Series 2005-91, Class PI, IO, 6.000%, 12/20/35		119
	363	Series 2006-16, Class OP, PO, 03/20/36		335
	64	Series 2006-28, Class GO, PO, 03/20/35		64
	1,077	Series 2006-38, Class SW, IF, IO, 6.332%, 06/20/36		152
	1,234	Series 2006-59, Class SD, IF, IO, 6.532%, 10/20/36		221
	2,084	Series 2006-65, Class SA, IF, IO, 6.632%, 11/20/36		372
	1,260	Series 2007-9, Class DI, IF, IO, 6.342%, 03/20/37		217
	2,762	Series 2007-17, Class JI, IF, IO, 6.643%, 04/16/37		514
	296	Series 2007-17, Class JO, PO, 04/16/37		263
	1,785	Series 2007-19, Class SD, IF, IO, 6.032%, 04/20/37		245
	1,824	Series 2007-26, Class SC, IF, IO, 6.032%, 05/20/37		252
	1,326	Series 2007-27, Class SA, IF, IO, 6.032%, 05/20/37		197
	431	Series 2007-28, Class BO, PO, 05/20/37		389
	1,144	Series 2007-36, Class SE, IF, IO, 6.302%, 06/16/37		180
	3,188	Series 2007-40, Class SB, IF, IO, 6.582%, 07/20/37		573
	1,917	Series 2007-42, Class SB, IF, IO, 6.582%, 07/20/37		344
	2,500	Series 2007-47, Class PH, 6.000%, 07/16/37		2,944
	1,395	Series 2007-50, Class AI, IF, IO, 6.607%, 08/20/37		254
	200	Series 2007-53, Class SW, IF, 19.701%, 09/20/37		271
	853	Series 2007-57, Class PO, PO, 03/20/37		796
	1,092	Series 2007-57, Class QA, IF, IO, 6.332%, 10/20/37		185
	1,291	Series 2007-71, Class SB, IF, IO, 6.532%, 07/20/36		148
	1,046	Series 2007-72, Class US, IF, IO, 6.382%, 11/20/37		178
	1,060	Series 2007-73, Class MI, IF, IO, 5.832%, 11/20/37		134
	2,079	Series 2007-76, Class SA, IF, IO, 6.362%, 11/20/37		354
	1,067	Series 2007-79, Class SY, IF, IO, 6.382%, 12/20/37		182
	663	Series 2007-81, Class SP, IF, IO, 6.482%, 12/20/37		125
	1,191	Series 2007-82, Class SA, IF, IO, 6.362%, 12/20/37		203
	583	Series 2008-2, Class MS, IF, IO, 6.992%, 01/16/38		96
	1,944	Series 2008-2, Class NS, IF, IO, 6.373%, 01/16/38		283
	1,135	Series 2008-10, Class S, IF, IO, 5.662%, 02/20/38		170
	224	Series 2008-23, Class IO, IO, 6.000%, 02/20/37		13
	825	Series 2008-25, Class SB, IF, IO, 6.732%, 03/20/38		122
	783	Series 2008-32, Class PI, IO, 5.500%, 10/16/37		96
	1,576	Series 2008-36, Class SH, IF, IO, 6.132%, 04/20/38		220
	7,296	Series 2008-40, Class SA, IF, IO, 6.233%, 05/16/38		1,304
	1,556	Series 2008-41, Class SA, IF, IO, 6.172%, 05/20/38		247
	1,017	Series 2008-55, Class SA, IF, IO, 6.032%, 06/20/38		141
	371	Series 2008-60, Class PO, PO, 01/20/38		364
	1,622	Series 2008-65, Class ME, 5.750%, 09/20/37		1,680
	542	Series 2008-71, Class SC, IF, IO, 5.832%, 08/20/38		69
	1,129	Series 2008-93, Class AS, IF, IO, 5.532%, 12/20/38		169
	1,769	Series 2009-6, Class SA, IF, IO, 5.933%, 02/16/39		257
	1,152	Series 2009-10, Class SL, IF, IO, 6.333%, 03/16/34		113
	3,000	Series 2009-12, Class IE, IO, 5.500%, 03/20/39		543
	1,160	Series 2009-14, Class KI, IO, 6.500%, 03/20/39		242
	1,053	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		225
	3,032	Series 2009-22, Class SA, IF, IO, 6.102%, 04/20/39		404
	861	Series 2009-25, Class SE, IF, IO, 7.432%, 09/20/38		135

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	734	Series 2009-33, Class CI, IO, 5.500%, 05/20/39		130
	716	Series 2009-33, Class TI, IO, 6.000%, 05/20/39		124
	172	Series 2009-38, Class IO, IO, 5.000%, 09/16/31		3
	1,265	Series 2009-43, Class SA, IF, IO, 5.782%, 06/20/39		160
	1,081	Series 2009-65, Class IQ, IO, 6.000%, 12/20/38		174
	2,603	Series 2009-72, Class SM, IF, IO, 6.082%, 08/16/39		410
	542	Series 2009-79, Class OK, PO, 11/16/37		493
	700	Series 2010-14, Class CO, PO, 08/20/35		606
	606	Series 2010-130, Class CP, 7.000%, 10/16/40		714
	4,097	Series 2010-157, Class OP, PO, 3.870, 12/20/40		3,450
	3,556	Series 2010-H17, Class XQ, VAR, 5.245%, 07/20/60		4,045
	1,368	Series 2011-22, Class WA, VAR, 5.966%, 02/20/37		1,508
	3,140	Series 2011-75, Class SM, IF, IO, 6.432%, 05/20/41		693
	3,306	Series 2012-61, Class FM, VAR, 0.568%, 05/16/42		3,306
	976	Series 2012-141, Class WC, VAR, 3.759%, 01/20/42		1,010
	4,668	Series 2012-H10, Class FA, VAR, 0.726%, 12/20/61		4,657
	2,764	Series 2012-H15, Class FA, VAR, 0.626%, 05/20/62		2,770
	3,441	Series 2012-H21, Class CF, VAR, 0.876%, 05/20/61		3,451
	2,971	Series 2012-H21, Class DF, VAR, 0.826%, 05/20/61		2,975
	4,870	Series 2012-H22, Class FD, VAR, 0.646%, 01/20/61		4,851
	1,742	Series 2012-H24, Class FA, VAR, 0.626%, 03/20/60		1,746
	3,731	Series 2012-H24, Class FG, VAR, 0.606%, 04/20/60		3,738
	1,959	Series 2012-H26, Class MA, VAR, 0.726%, 07/20/62		1,956
	2,843	Series 2012-H28, Class FA, VAR, 0.756%, 09/20/62		2,841
	4,221	Series 2012-H30, Class PA, VAR, 0.626%, 11/20/59		4,229
	2,312	Series 2012-H31, Class FD, VAR, 0.516%, 12/20/62		2,285
	4,610	Series 2013-54, Class WA, VAR, 4.707%, 11/20/42		4,949
	3,599	Series 2013-75, Class WA, VAR, 5.239%, 06/20/40		4,052
	1,853	Series 2013-91, Class WA, VAR, 4.519%, 04/20/43		2,023
	1,300	Series 2013-116, Class JY, 4.000%, 08/16/43		1,220
	3,092	Series 2013-H01, Class FA, 1.650%, 01/20/63		3,042
	1,783	Series 2013-H03, Class FA, VAR, 0.476%, 08/20/60		1,781
	1,501	Series 2013-H04, Class BA, 1.650%, 02/20/63		1,476
	4,917	Series 2013-H05, Class FB, VAR, 0.576%, 02/20/62		4,886
	1,962	Series 2013-H07, Class HA, VAR, 0.586%, 03/20/63		1,943
	9,954	Series 2013-H07, Class JA, 1.750%, 03/20/63		9,810
	1,932	Series 2013-H08, Class FC, VAR, 0.626%, 02/20/63		1,918
	2,009	Series 2013-H09, Class HA, 1.650%, 04/20/63		1,973
	4,595	Series 2013-H18, Class JA, VAR, 0.776%, 08/20/63		4,595
		Vendee Mortgage Trust,
	520	Series 1994-1, Class 1, VAR, 5.616%, 02/15/24		577
	864	Series 1994-1, Class 2ZB, 6.500%, 02/15/24		960
	763	Series 1996-1, Class 1Z, 6.750%, 02/15/26		866
	556	Series 1996-2, Class 1Z, 6.750%, 06/15/26		650
	1,071	Series 1997-1, Class 2Z, 7.500%, 02/15/27		1,229
	1,301	Series 1998-1, Class 2E, 7.000%, 03/15/28		1,504
	2,462	Series 1999-1, Class 2Z, 6.500%, 01/15/29		2,831
				668,716
		Non-Agency CMO — 8.0%
	317	AAM ACE Resecuritization Trust, Series 2011-1, Class A20, VAR, 0.397%, 02/02/37 (e)		309
	4	ABN Amro Mortgage Corp., Series 2003-8, Class A3, 4.500%, 06/25/33		4
		AJAX Mortgage Loan Trust,
	2,726	Series 2013-A, Class A, VAR, 3.500%, 02/25/51 (e) (i)		2,696

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	2,970	Series 2013-C, Class A, SUB, 4.500%, 03/25/35 (e) (i)		2,959
		Alternative Loan Trust,
	268	Series 2002-8, Class A4, 6.500%, 07/25/32		275
	13,097	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		12,927
	700	Series 2004-18CB, Class 2A4, 5.700%, 09/25/34		709
	2,180	Series 2005-1CB, Class 1A6, IF, IO, 6.934%, 03/25/35		440
	5,139	Series 2005-20CB, Class 3A8, IF, IO, 4.584%, 07/25/35		529
	8,776	Series 2005-22T1, Class A2, IF, IO, 4.904%, 06/25/35		1,405
	5,353	Series 2005-28CB, Class 1A4, 5.500%, 08/25/35		5,070
	182	Series 2005-28CB, Class 3A5, 6.000%, 08/25/35		152
	7,151	Series 2005-37T1, Class A2, IF, IO, 4.884%, 09/25/35		1,020
	4,681	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		4,266
	11,770	Series 2005-54CB, Class 1A2, IF, IO, 4.684%, 11/25/35		1,605
	2,941	Series 2005-57CB, Class 3A2, IF, IO, 4.934%, 12/25/35		414
	1,767	Series 2005-64CB, Class 1A9, 5.500%, 12/25/35		1,548
	6,975	Series 2005-J1, Class 1A4, IF, IO, 4.934%, 02/25/35		727
	2,605	Series 2006-26CB, Class A9, 6.500%, 09/25/36		2,053
	131	Alternative Loan Trust Resecuritization, Series 2005-5R, Class A1, 5.250%, 12/25/18		132
		American General Mortgage Loan Trust,
	4,500	Series 2009-1, Class A7, VAR, 5.750%, 09/25/48 (e)		4,568
	327	Series 2010-1A, Class A1, VAR, 5.150%, 03/25/58 (e)		330
	718	Series 2010-1A, Class A2, VAR, 5.650%, 03/25/58 (e)		736
	1,140	Series 2010-1A, Class A3, VAR, 5.650%, 03/25/58 (e)		1,181
	473	Series 2010-1A, Class A4, VAR, 5.650%, 03/25/58 (e)		491
		ASG Resecuritization Trust,
	818	Series 2009-1, Class A60, VAR, 2.194%, 06/26/37 (e)		805
	755	Series 2009-2, Class A55, VAR, 4.934%, 05/24/36 (e)		768
	1,000	Series 2009-2, Class G60, VAR, 4.934%, 05/24/36 (e)		1,041
	3,756	Series 2009-3, Class A65, VAR, 2.287%, 03/26/37 (e)		3,755
	2,802	Series 2009-4, Class A60, 6.000%, 06/28/37 (e)		2,857
	908	Series 2010-2, Class A60, VAR, 2.069%, 01/28/37 (e)		892
	239	Series 2010-3, Class 2A22, VAR, 0.374%, 10/28/36 (e)		237
	862	Series 2011-1, Class 3A50, VAR, 2.468%, 11/28/35 (e)		845
		Banc of America Alternative Loan Trust,
	190	Series 2003-2, Class PO, PO, 04/25/33		166
	290	Series 2003-9, Class 1CB2, 5.500%, 11/25/33		296
	322	Series 2003-11, Class PO, PO, 01/25/34		239
	174	Series 2004-6, Class 15PO, PO, 07/25/19		159
	1,542	Series 2005-5, Class 1CB1, 5.500%, 06/25/35		1,444
	4,492	Series 2005-6, Class CBIO, IO, 5.500%, 07/25/35		717
	1,349	Series 2006-4, Class 1A4, 6.000%, 05/25/46		882
	2,561	Banc of America Funding Corp., Series 2012-R6, Class 1A1, 3.000%, 10/26/39 (e) (i)		2,549
		Banc of America Funding Trust,
	379	Series 2004-1, Class PO, PO, 03/25/34		342
	537	Series 2004-2, Class 30PO, PO, 09/20/34		481
	411	Series 2004-C, Class 1A1, VAR, 5.078%, 12/20/34		408
	953	Series 2005-6, Class 2A7, 5.500%, 10/25/35		926
	618	Series 2005-7, Class 30PO, PO, 11/25/35		484
	421	Series 2005-8, Class 30PO, PO, 01/25/36		312
	1,572	Series 2005-E, Class 4A1, VAR, 2.670%, 03/20/35		1,580
	624	Series 2006-A, Class 3A2, VAR, 2.772%, 02/20/36		494
	785	Series 2010-R5, Class 1A1, 5.500%, 10/26/37 (e)		800

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Non-Agency CMO — Continued
			Banc of America Mortgage Trust,
	136		Series 2003-3, Class 2A1, VAR, 0.716%, 05/25/18		131
	145		Series 2003-6, Class 2A1, VAR, 0.616%, 08/25/18		143
	57		Series 2003-7, Class A2, 4.750%, 09/25/18		59
	175		Series 2003-8, Class APO, PO, 11/25/33		148
	1,123		Series 2004-3, Class 15IO, IO, VAR, 0.278%, 04/25/19		5
	72		Series 2004-4, Class APO, PO, 05/25/34		61
	1,823		Series 2004-5, Class 2A2, 5.500%, 06/25/34		1,879
	619		Series 2004-6, Class 2A5, PO, 07/25/34		521
	311		Series 2004-6, Class APO, PO, 07/25/34		277
	33		Series 2004-8, Class 5PO, PO, 05/25/32		31
	41		Series 2004-8, Class XPO, PO, 10/25/34		35
	300		Series 2004-A, Class 2A2, VAR, 2.925%, 02/25/34		296
	1,113		Series 2004-J, Class 3A1, VAR, 2.897%, 11/25/34		1,103
	1,426		Series 2005-10, Class 1A6, 5.500%, 11/25/35		1,421
			BCAP LLC Trust,
	511		Series 2009-RR13, Class 17A2, VAR, 5.500%, 04/26/37 (e)		535
	669		Series 2009-RR5, Class 8A1, 5.500%, 11/26/34 (e)		687
	791		Series 2010-RR12, Class 2A5, VAR, 3.304%, 01/26/36 (e)		803
	427		Series 2010-RR4, Class 12A1, VAR, 4.000%, 07/26/36 (e)		428
	–	(h)	Series 2010-RR4, Class 2A1, VAR, 0.916%, 06/26/37 (e)		—	(h)
	861		Series 2010-RR6, Class 22A3, VAR, 4.623%, 06/26/36 (e)		893
	74		Series 2010-RR6, Class 5A1, VAR, 4.608%, 11/26/37 (e)		73
	230		Series 2010-RR7, Class 15A1, VAR, 0.965%, 01/26/36 (e)		226
	705		Series 2010-RR7, Class 16A1, VAR, 0.843%, 02/26/47 (e)		686
	347		Series 2010-RR7, Class 1A5, VAR, 4.989%, 04/26/35 (e)		341
	2,253		Series 2010-RR7, Class 2A1, VAR, 2.280%, 07/26/45 (e)		2,184
	383		Series 2010-RR8, Class 3A3, VAR, 5.060%, 05/26/35 (e)		392
	1,500		Series 2010-RR8, Class 3A4, VAR, 5.060%, 05/26/35 (e)		1,417
	1,357		Series 2011-R11, Class 25A5, VAR, 4.000%, 08/26/21 (e)		1,386
	2,422		Series 2011-RR10, Class 2A1, VAR, 1.022%, 09/26/37 (e)		2,185
	1,952		Series 2011-RR4, Class 6A3, VAR, 5.000%, 08/26/37 (e)		1,970
	2,225		Series 2011-RR5, Class 11A3, VAR, 0.316%, 05/28/36 (e)		2,066
	915		Series 2011-RR5, Class 14A3, VAR, 2.667%, 07/26/36 (e)		912
	1,500		Series 2012-RR10, Class 3A1, VAR, 0.356%, 05/26/36 (e)		1,406
	1,924		Series 2012-RR2, Class 1A1, VAR, 0.336%, 08/26/36 (e)		1,861
	1,404		Series 2012-RR3, Class 2A5, VAR, 2.229%, 05/26/37 (e)		1,387
			Bear Stearns ARM Trust,
	177		Series 2003-7, Class 3A, VAR, 2.472%, 10/25/33		174
	844		Series 2004-1, Class 12A1, VAR, 2.855%, 04/25/34		830
	188		Series 2004-2, Class 14A, VAR, 4.993%, 05/25/34		187
	1,879		Series 2005-5, Class A1, VAR, 2.210%, 08/25/35		1,880
	4,287		Series 2006-1, Class A1, VAR, 2.370%, 02/25/36		4,243
	1,442		CAM Mortgage Trust, Series 2013-1, Class A, VAR, 3.967%, 11/25/57 (e) (i)		1,426
			CHL Mortgage Pass-Through Trust,
	973		Series 2003-26, Class 1A6, 3.500%, 08/25/33		971
	129		Series 2003-44, Class A9, PO, 10/25/33		128
	306		Series 2003-J7, Class 4A3, IF, 9.558%, 08/25/18		320
	580		Series 2004-7, Class 2A1, VAR, 2.692%, 06/25/34		558
	472		Series 2004-8, Class 2A1, 4.500%, 06/25/19		487
	231		Series 2004-HYB1, Class 2A, VAR, 2.748%, 05/20/34		217
	860		Series 2004-HYB3, Class 2A, VAR, 2.567%, 06/20/34		804
	726		Series 2004-HYB6, Class A3, VAR, 2.532%, 11/20/34		678

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	327	Series 2004-J8, Class 1A2, 4.750%, 11/25/19		335
	1,696	Series 2005-16, Class A23, 5.500%, 09/25/35		1,608
	3,485	Series 2005-22, Class 2A1, VAR, 2.588%, 11/25/35		2,843
		Citicorp Mortgage Securities REMIC Pass-Through Certificates Trust,
	191	Series 2005-5, Class APO, PO, 08/25/35		159
	209	Series 2005-8, Class APO, PO, 11/25/35		162
		Citigroup Mortgage Loan Trust,
	336	Series 2003-1, Class 2A5, 5.250%, 10/25/33		344
	1,466	Series 2008-AR4, Class 1A1A, VAR, 2.782%, 11/25/38 (e)		1,481
	654	Series 2009-10, Class 2A1A, 7.000%, 12/25/35 (e)		678
	5,882	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		5,934
	6,452	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		6,637
	471	Series 2011-10, Class 4A1, VAR, 0.360%, 02/25/46 (e)		453
		Citigroup Mortgage Loan Trust, Inc.,
	174	Series 2003-1, Class 2A6, PO, 10/25/33		160
	124	Series 2003-1, Class PO2, PO, 10/25/33		114
	131	Series 2003-1, Class PO3, PO, 09/25/33		120
	118	Series 2003-UP3, Class A3, 7.000%, 09/25/33		122
	249	Series 2003-UST1, Class A1, 5.500%, 12/25/18		259
	56	Series 2003-UST1, Class PO1, PO, 12/25/18		52
	46	Series 2003-UST1, Class PO3, PO, 12/25/18		43
	168	Series 2004-UST1, Class A6, VAR, 3.798%, 08/25/34		167
	454	Series 2005-1, Class 2A1A, VAR, 2.740%, 04/25/35		356
	599	Series 2005-2, Class 2A11, 5.500%, 05/25/35		603
	551	Series 2005-5, Class 1A2, VAR, 2.596%, 08/25/35		397
	525	Series 2012-A, Class A, 2.500%, 06/25/51 (e) (i)		512
		Credit Suisse First Boston Mortgage Securities Corp.,
	710	Series 2003-1, Class DB1, 6.564%, 02/25/33		722
	140	Series 2003-17, Class 2A1, 5.000%, 07/25/18		144
	427	Series 2003-21, Class 1A4, 5.250%, 09/25/33		442
	539	Series 2003-25, Class 1P, PO, 10/25/33		489
	48	Series 2004-5, Class 5P, PO, 08/25/19		45
	2,056	Series 2005-4, Class 3A18, 5.500%, 06/25/35		2,031
	535	Series 2005-4, Class 3A22, 5.500%, 06/25/35		532
	2,288	Series 2005-4, Class 3A23, 5.500%, 06/25/35		2,214
		CSMC,
	627	Series 2010-16, Class A3, VAR, 3.816%, 06/25/50 (e)		621
	17	Series 2010-1R, Class 26A1, 4.750%, 05/27/37 (e)		17
	9,249	Series 2010-11R, Class A6, VAR, 1.179%, 06/28/47 (e)		8,836
	305	Series 2010-12R, Class 14A1, VAR, 2.535%, 09/26/46 (e)		304
	1,669	Series 2011-1R, Class A1, VAR, 1.164%, 02/27/47 (e)		1,663
	961	Series 2011-6R, Class 3A1, VAR, 2.704%, 07/28/36 (e)		951
	1,322	Series 2011-7R, Class A1, VAR, 1.414%, 08/28/47 (e)		1,319
	1,385	Series 2011-9R, Class A1, VAR, 2.164%, 03/27/46 (e)		1,388
	2,070	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		2,096
	1,069	Series 2012-3R, Class 1A1, VAR, 3.250%, 07/27/37 (e)		1,067
	262	Deutsche Mortgage Securities, Inc. Mortgage Loan Resecuritization Trust, Series 2009-RS2, Class 4A1, VAR, 0.163%, 04/26/37 (e)		258
	917	FDIC Trust, Series 2013-N1, Class A, 4.500%, 10/25/18 (e)		917
	7	First Boston Mortgage Securities Corp. 1987 STRIPS, Series C, Class PO, PO, 04/25/17		7
		First Horizon Alternative Mortgage Securities Trust,
	1,211	Series 2004-AA4, Class A1, VAR, 2.231%, 10/25/34		1,180

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	1,854	Series 2005-FA8, Class 1A19, 5.500%, 11/25/35		1,625
	3,065	Series 2007-FA4, Class 1A2, IF, IO, 5.484%, 08/25/37		563
		First Horizon Mortgage Pass-Through Trust,
	2,572	Series 2003-9, Class 1A6, 5.500%, 11/25/33		2,667
	830	Series 2004-AR2, Class 2A1, VAR, 2.627%, 05/25/34		819
	1,625	Series 2005-AR1, Class 2A2, VAR, 2.654%, 04/25/35		1,626
	673	Freedom Trust, Series 2011-4, Class A18, VAR, 5.000%, 03/25/37 (e)		678
		GMACM Mortgage Loan Trust,
	732	Series 2003-AR1, Class A4, VAR, 3.012%, 10/19/33		742
	363	Series 2004-J5, Class A7, 6.500%, 01/25/35		386
	154	Series 2004-J6, Class 1A1, 5.000%, 01/25/20		158
	5,283	Series 2005-AR3, Class 3A4, VAR, 3.302%, 06/19/35		5,068
		GSMPS Mortgage Loan Trust,
	1,011	Series 2001-2, Class A, VAR, 7.500%, 06/19/32 (e)		1,063
	1,471	Series 2005-RP3, Class 1AF, VAR, 0.516%, 09/25/35 (e)		1,220
	1,111	Series 2005-RP3, Class 1AS, IO, VAR, 4.888%, 09/25/35 (e)		160
	4,861	Series 2006-RP2, Class 1AS2, IF, IO, 4.910%, 04/25/36 (e)		655
		GSR Mortgage Loan Trust,
	726	Series 2004-6F, Class 3A4, 6.500%, 05/25/34		777
	832	Series 2004-8F, Class 2A3, 6.000%, 09/25/34		870
	627	Series 2004-13F, Class 3A3, 6.000%, 11/25/34		619
	326	Series 2005-4F, Class AP, PO, 05/25/35		286
	3,281	Series 2005-7F, Class 3A9, 6.000%, 09/25/35		3,342
	3,782	Series 2006-1F, Class 2A4, 6.000%, 02/25/36		3,426
	3,580	Series 2007-1F, Class 2A4, 5.500%, 01/25/37		3,497
	4,547	Homeowner Assistance Program Reverse Mortgage Loan Trust, Series 2013-RM1, Class A, 4.000%, 05/26/53 (e) (i)		4,439
	381	Impac CMB Trust, Series 2005-4, Class 2A1, VAR, 0.466%, 05/25/35		382
		Impac Secured Assets Trust,
	800	Series 2006-1, Class 2A1, VAR, 0.516%, 05/25/36		788
	992	Series 2006-2, Class 2A1, VAR, 0.516%, 08/25/36		959
	16,083	IndyMac Index Mortgage Loan Trust, Series 2005-AR11, Class A7, IO, VAR, 0.000%, 08/25/35		20
		JP Morgan Mortgage Trust,
	1,623	Series 2006-A2, Class 4A1, VAR, 2.734%, 08/25/34		1,619
	2,217	Series 2006-A2, Class 5A3, VAR, 2.551%, 11/25/33		2,232
	434	Series 2006-A3, Class 6A1, VAR, 2.723%, 08/25/34		433
	528	JP Morgan Resecuritization Trust, Series 2009-6, Class 4A1, VAR, 2.713%, 09/26/36 (e)		533
		Lehman Mortgage Trust,
	770	Series 2006-2, Class 1A1, VAR, 6.291%, 04/25/36		730
	1,463	Series 2008-2, Class 1A6, 6.000%, 03/25/38		1,342
	1,000	LVII Resecuritization Trust, Series 2009-3, Class M3, VAR, 5.376%, 11/27/37 (e)		1,023
		MASTR Adjustable Rate Mortgages Trust,
	90	Series 2004-4, Class 2A1, VAR, 1.969%, 05/25/34		79
	940	Series 2004-13, Class 2A1, VAR, 2.644%, 04/21/34		963
	2,311	Series 2004-13, Class 3A7, VAR, 2.624%, 11/21/34		2,382
	402	Series 2004-15, Class 3A1, VAR, 2.946%, 12/25/34		391
		MASTR Alternative Loan Trust,
	216	Series 2003-3, Class 1A1, 6.500%, 05/25/33		226
	606	Series 2003-9, Class 8A1, 6.000%, 01/25/34		623
	724	Series 2004-3, Class 2A1, 6.250%, 04/25/34		749
	1,046	Series 2004-4, Class 10A1, 5.000%, 05/25/24		1,085
	491	Series 2004-6, Class 30PO, PO, 07/25/34		422
	714	Series 2004-6, Class 7A1, 6.000%, 07/25/34		733
	360	Series 2004-7, Class 30PO, PO, 08/25/34		278

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	1,503	Series 2004-8, Class 6A1, 5.500%, 09/25/19		1,566
	215	Series 2004-10, Class 1A1, 4.500%, 09/25/19		220
		MASTR Asset Securitization Trust,
	80	Series 2003-2, Class 2A1, 4.500%, 03/25/18		80
	21	Series 2003-3, Class 4A1, 5.000%, 04/25/18		22
	112	Series 2003-4, Class 3A2, 5.000%, 05/25/18		115
	133	Series 2003-12, Class 30PO, PO, 12/25/33		123
	99	Series 2004-1, Class 30PO, PO, 02/25/34		89
	39	Series 2004-4, Class 3A1, 4.500%, 04/25/19		40
	67	Series 2004-6, Class 15PO, PO, 07/25/19		63
	87	Series 2004-8, Class 1A1, 4.750%, 08/25/19		89
	40	Series 2004-8, Class PO, PO, 08/25/19		37
	2,906	MASTR Reperforming Loan Trust, Series 2005-2, Class 1A1F, VAR, 0.516%, 05/25/35 (e)		2,448
	1,371	MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		1,097
		Merrill Lynch Mortgage Investors Trust,
	387	Series 2003-E, Class A1, VAR, 0.786%, 10/25/28		374
	945	Series 2004-1, Class 2A1, VAR, 2.157%, 12/25/34		941
	773	Series 2004-A, Class A1, VAR, 0.626%, 04/25/29		724
	40	ML Trust XLVII, Series 47, Class Z, 8.985%, 10/20/20		44
	706	MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.486%, 02/25/35		673
	538	NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		551
		Nomura Asset Acceptance Corp. Alternative Loan Trust,
	270	Series 2003-A1, Class A1, 5.500%, 05/25/33		274
	118	Series 2003-A1, Class A2, 6.000%, 05/25/33		121
	61	Series 2003-A1, Class A5, 7.000%, 04/25/33		63
	7	Series 2003-A1, Class A7, 5.000%, 04/25/18		8
		PaineWebber CMO Trust,
	1	Series H, Class 4, 8.750%, 04/01/18		2
	9	Series P, Class 4, 8.500%, 08/01/19		10
	410	Provident Funding Mortgage Loan Trust, Series 2005-1, Class 2A1, VAR, 2.685%, 05/25/35		413
		RALI Trust,
	120	Series 2002-QS16, Class A3, IF, 16.276%, 10/25/17		126
	390	Series 2002-QS8, Class A5, 6.250%, 06/25/17		397
	4,965	Series 2003-QR19, Class CB4, 5.750%, 10/25/33		5,136
	767	Series 2003-QS12, Class A2A, IF, IO, 7.434%, 06/25/18		81
	233	Series 2003-QS12, Class A5, IO, 5.000%, 06/25/18		17
	1,666	Series 2003-QS14, Class A1, 5.000%, 07/25/18		1,697
	524	Series 2003-QS18, Class A1, 5.000%, 09/25/18		538
	1,671	Series 2003-QS19, Class A1, 5.750%, 10/25/33		1,788
	329	Series 2003-QS3, Class A2, IF, 16.135%, 02/25/18		359
	194	Series 2003-QS3, Class A8, IF, IO, 7.434%, 02/25/18		10
	860	Series 2003-QS9, Class A3, IF, IO, 7.384%, 05/25/18		99
	2,356	Series 2004-QA6, Class NB2, VAR, 3.100%, 12/26/34		2,069
		RBSSP Resecuritization Trust,
	510	Series 2009-2, Class 1A1, 7.000%, 08/26/37 (e)		532
	298	Series 2009-6, Class 15A1, 5.500%, 01/26/21 (e)		300
	755	Series 2009-9, Class 7A4, VAR, 6.000%, 07/26/37 (e)		764
	1,075	Series 2009-12, Class 1A1, VAR, 5.996%, 11/25/33 (e)		1,123
	985	Series 2010-9, Class 7A5, VAR, 4.000%, 05/26/37 (e)		1,009
	344	Series 2010-12, Class 8A1, 4.000%, 06/27/21 (e)		348
		Residential Asset Securitization Trust,
	423	Series 2003-A13, Class A3, 5.500%, 01/25/34		436
	34	Series 2003-A14, Class A1, 4.750%, 02/25/19		35

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	3,263	Series 2005-A2, Class A4, IF, IO, 4.884%, 03/25/35		522
	871	Series 2006-A4, Class 2A5, 6.000%, 05/25/36		746
		RFMSI Trust,
	858	Series 2003-S13, Class A3, 5.500%, 06/25/33		859
	137	Series 2003-S14, Class A4, PO, 07/25/18		129
	294	Series 2004-S3, Class A1, 4.750%, 03/25/19		301
	592	Series 2004-S6, Class 2A6, PO, 06/25/34		511
	129	Series 2004-S9, Class 2A1, 4.750%, 12/25/19		131
	879	Series 2005-SA4, Class 1A1, VAR, 2.848%, 09/25/35		728
	30	RFSC Trust, Series 2003-RM2, Class AP-3, PO, 05/25/33		27
		Salomon Brothers Mortgage Securities VII, Inc.,
	349	Series 2003-HYB1, Class A, VAR, 2.620%, 09/25/33		352
	46	Series 2003-UP2, Class PO1, PO, 12/25/18		41
		Springleaf Mortgage Loan Trust,
	1,737	Series 2011-1A, Class A1, VAR, 4.050%, 01/25/58 (e)		1,807
	2,100	Series 2011-1A, Class A2, VAR, 5.450%, 01/25/58 (e)		2,280
	685	Series 2012-1A, Class A, VAR, 2.667%, 09/25/57 (e)		700
	1,600	Series 2012-1A, Class M3, VAR, 6.000%, 09/25/57 (e)		1,679
	2,924	Series 2012-2A, Class A, VAR, 2.220%, 10/25/57 (e)		2,980
	2,000	Series 2012-2A, Class M4, VAR, 6.000%, 10/25/57 (e)		2,100
	3,556	Series 2012-3A, Class A, VAR, 1.570%, 12/25/59 (e)		3,549
	1,130	Series 2012-3A, Class M1, VAR, 2.660%, 12/25/59 (e)		1,118
	589	Series 2012-3A, Class M2, VAR, 3.560%, 12/25/59 (e)		577
	455	Series 2012-3A, Class M3, VAR, 4.440%, 12/25/59 (e)		455
	267	Series 2012-3A, Class M4, VAR, 5.300%, 12/25/59 (e)		270
	2,689	Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		2,658
	1,116	Series 2013-1A, Class M1, VAR, 2.310%, 06/25/58 (e)		1,079
	900	Series 2013-1A, Class M2, VAR, 3.140%, 06/25/58 (e)		875
	634	Series 2013-1A, Class M3, VAR, 3.790%, 06/25/58 (e)		602
	3,991	Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		3,980
	1,058	Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		1,040
	949	Series 2013-3A, Class A, VAR, 1.870%, 09/25/57 (e)		949
	2,131	Series 2013-3A, Class M1, VAR, 3.790%, 09/25/57 (e)		2,131
	1,902	Structured Adjustable Rate Mortgage Loan Trust, Series 2004-6, Class 5A4, VAR, 4.816%, 06/25/34		1,896
	862	Structured Asset Mortgage Investments II Trust, Series 2004-AR5, Class 1A1, VAR, 0.827%, 10/19/34		811
		Structured Asset Securities Corp. Mortgage Pass-Through Certificates,
	1,034	Series 2003-33H, Class 1A1, 5.500%, 10/25/33		1,059
	1,806	Series 2004-5H, Class A4, 5.540%, 12/25/33		1,858
		Structured Asset Securities Corp. Trust,
	234	Series 2005-6, Class 4A1, 5.000%, 05/25/35		236
	317	Series 2005-10, Class 5A9, 5.250%, 12/25/34		310
		Thornburg Mortgage Securities Trust,
	582	Series 2003-4, Class A1, VAR, 0.806%, 09/25/43		559
	550	Series 2004-4, Class 3A, VAR, 2.123%, 12/25/44		546
		Vericrest Opportunity Loan Transferee,
	1,463	Series 2013-1A, Class A, VAR, 3.105%, 11/25/50 (e)		1,474
	1,031	Series 2013-NPL4, Class A1, SUB, 4.000%, 11/25/53		1,031
	2,465	WaMu Mortgage Pass-Through Certificates, Series 2004-RS2, Class A4, 5.000%, 11/25/33		2,467
		WaMu Mortgage Pass-Through Certificates Trust,
	205	Series 2003-AR8, Class A, VAR, 2.425%, 08/25/33		206
	3,152	Series 2003-AR9, Class 1A6, VAR, 2.427%, 09/25/33		3,181

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	472	Series 2003-AR9, Class 2A, VAR, 2.443%, 09/25/33		474
	323	Series 2003-S8, Class A6, 4.500%, 09/25/18		331
	1,659	Series 2003-S9, Class A8, 5.250%, 10/25/33		1,719
	162	Series 2003-S9, Class P, PO, 10/25/33		148
	262	Series 2004-AR3, Class A1, VAR, 2.451%, 06/25/34		263
	219	Series 2004-AR3, Class A2, VAR, 2.451%, 06/25/34		221
	357	Series 2006-AR10, Class 2P, VAR, 2.386%, 09/25/36		211
	257	Series 2006-AR12, Class 2P, VAR, 1.970%, 10/25/36		159
		Washington Mutual Mortgage Pass-Through Certificates WMALT Trust,
	10,401	Series 2005-2, Class 1A4, IF, IO, 4.884%, 04/25/35		1,498
	2,063	Series 2005-2, Class 2A3, IF, IO, 4.834%, 04/25/35		261
	2,725	Series 2005-3, Class CX, IO, 5.500%, 05/25/35		733
	3,312	Series 2005-4, Class CB7, 5.500%, 06/25/35		3,064
	2,739	Series 2005-4, Class CX, IO, 5.500%, 06/25/35		695
	802	Series 2005-6, Class 2A4, 5.500%, 08/25/35		736
	5,149	Series 2005-6, Class 2A9, 5.500%, 08/25/35		4,623
	118	Wedgewood Real Estate Trust, Series 2013-1A, Class A, VAR, 3.967%, 07/25/43 (e) (i)		118
	2,657	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		2,673
		Wells Fargo Mortgage-Backed Securities Trust,
	274	Series 2003-K, Class 1A1, VAR, 2.492%, 11/25/33		277
	518	Series 2003-K, Class 1A2, VAR, 2.492%, 11/25/33		529
	77	Series 2004-BB, Class A4, VAR, 2.610%, 01/25/35		77
	662	Series 2004-EE, Class 2A1, VAR, 2.613%, 12/25/34		667
	694	Series 2004-EE, Class 3A1, VAR, 2.711%, 12/25/34		697
	3,366	Series 2004-P, Class 2A1, VAR, 2.613%, 09/25/34		3,399
	704	Series 2004-V, Class 1A1, VAR, 2.629%, 10/25/34		722
	374	Series 2005-1, Class 2A1, 5.000%, 01/25/20		386
	106	Series 2005-13, Class APO, PO, 11/25/20		96
	346	Series 2005-16, Class APO, PO, 01/25/36		267
	453	Series 2005-AR16, Class 2A1, VAR, 2.672%, 02/25/34		457
	654	Series 2005-AR8, Class 2A1, VAR, 2.673%, 06/25/35		663
	732	Series 2006-2, Class APO, PO, 03/25/36		447
	355	Series 2006-4, Class 1APO, PO, 04/25/36		265
	1,750	Series 2007-7, Class A7, 6.000%, 06/25/37		1,671
	482	Series 2007-11, Class A14, 6.000%, 08/25/37		455
				321,199
		Total Collateralized Mortgage Obligations (Cost $930,564)		989,915
	Commercial Mortgage-Backed Securities — 3.7%
		A10 Securitization LLC,
	1,593	Series 2012-1, Class A, 3.492%, 04/15/24 (e)		1,605
	1,414	Series 2013-1, Class A, 2.400%, 11/15/25 (e)		1,413
	3,577	Series 2013-2, Class A, 2.620%, 11/15/27 (e)		3,577
	696	Series 2013-2, Class B, 4.380%, 11/15/27 (e)		696
	560	BAMLL Commercial Mortgage Securities Trust, Series 2012-PARK, Class A, 2.959%, 12/10/30 (e)		534
		Banc of America Commercial Mortgage Trust,
	365	Series 2006-1, Class A4, VAR, 5.372%, 09/10/45		393
	2,270	Series 2006-4, Class A4, 5.634%, 07/10/46		2,479
	915	Series 2006-5, Class A4, 5.414%, 09/10/47		1,000
		Banc of America Merrill Lynch Commercial Mortgage, Inc.,
	400	Series 2005-3, Class A4, 4.668%, 07/10/43		420
	1,610	Series 2005-3, Class AM, 4.727%, 07/10/43		1,678

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Commercial Mortgage-Backed Securities — Continued
	1,295	Series 2005-6, Class ASB, VAR, 5.357%, 09/10/47		1,299
		BB-UBS Trust,
	3,200	Series 2012-SHOW, Class A, 3.430%, 11/05/36 (e)		2,989
	2,500	Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		2,390
		Bear Stearns Commercial Mortgage Securities Trust,
	40,142	Series 2005-PWR8, Class X1, IO, VAR, 0.931%, 06/11/41 (e)		374
	563	Series 2005-PWR9, Class AAB, 4.804%, 09/11/42		571
	3,148	Series 2006-PW11, Class A4, VAR, 5.611%, 03/11/39		3,407
	94,263	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.234%, 12/11/49 (e)		908
	1,250	Citigroup Commercial Mortgage Trust, Series 2005-C3, Class AM, VAR, 4.830%, 05/15/43		1,308
		COBALT CMBS Commercial Mortgage Trust,
	605	Series 2006-C1, Class A4, 5.223%, 08/15/48		657
	22,728	Series 2006-C1, Class IO, IO, VAR, 0.998%, 08/15/48		421
		COMM Mortgage Trust,
	1,100	Series 2005-LP5, Class A4, VAR, 4.982%, 05/10/43		1,150
	3,023	Series 2012-CR2, Class XA, IO, VAR, 2.106%, 08/15/45		342
	3,500	Series 2013-300P, Class A1, 4.353%, 08/10/30 (e)		3,612
	1,060	Series 2013-SFS, Class A2, VAR, 3.086%, 04/12/35 (e)		994
	330	Commercial Mortgage Pass-Through Certificates, Series 2012-MVP, Class A, VAR, 2.107%, 11/17/26 (e)		330
		Commercial Mortgage Trust,
	500	Series 2005-GG3, Class AJ, VAR, 4.859%, 08/10/42		519
	300	Series 2006-GG7, Class AM, VAR, 6.018%, 07/10/38		329
	700	Credit Suisse Commercial Mortgage Trust, Series 2006-C2, Class A3, VAR, 5.858%, 03/15/39		757
		DBRR Trust,
	490	Series 2012-EZ1, Class A, 0.946%, 09/25/45 (e)		490
	2,089	Series 2013-EZ2, Class A, VAR, 0.853%, 02/25/45 (e)		2,089
	1,612	FDIC Guaranteed Notes Trust, Series 2010-C1, Class A, 2.980%, 12/06/20 (e)		1,670
	2,293	Fontainebleau Miami Beach Trust, Series 2012-FBLU, Class A, 2.887%, 05/05/27 (e)		2,313
	1,866	GE Capital Commercial Mortgage Corp., Series 2005-C1, Class AJ, VAR, 4.826%, 06/10/48		1,930
	4,265	GMAC Commercial Mortgage Securities, Inc. Trust, Series 2006-C1, Class A4, VAR, 5.238%, 11/10/45		4,497
		GS Mortgage Securities Corp. II,
	1,651	Series 2004-GG2, Class A6, VAR, 5.396%, 08/10/38		1,674
	1,434	Series 2013-KING, Class A, 2.706%, 12/10/27 (e)		1,429
	488	GS Mortgage Securities Corp. Trust, Series 2013-NYC5, Class A, 2.318%, 01/10/30 (e)		493
	850	GS Mortgage Securities Trust, Series 2006-GG6, Class A4, VAR, 5.553%, 04/10/38		920
	1,000	GSMS Trust, Series 2009-RR1, Class JPB, 5.374%, 05/17/45 (e)		1,099
		JP Morgan Chase Commercial Mortgage Securities Trust,
	1,000	Series 2005-CB11, Class AJ, VAR, 5.567%, 08/12/37		1,050
	400	Series 2006-LDP9, Class AMS, 5.337%, 05/15/47		406
	1,000	Series 2007-C1, Class A4, 5.716%, 02/15/51		1,109
	998	Ladder Capital Commercial Mortgage Trust, Series 2013-GCP, Class A2, 3.985%, 02/15/36 (e)		928
		LB-UBS Commercial Mortgage Trust,
	1,000	Series 2006-C1, Class A4, 5.156%, 02/15/31		1,072
	40,168	Series 2006-C7, Class XW, IO, VAR, 0.850%, 11/15/38 (e)		701
	300	Series 2007-C1, Class AM, 5.455%, 02/15/40		329
	829	Series 2007-C2, Class A3, 5.430%, 02/15/40		921
		Merrill Lynch Mortgage Trust,
	2,933	Series 2005-LC1, Class A4, VAR, 5.291%, 01/12/44		3,139
	703	Series 2005-MCP1, Class ASB, VAR, 4.674%, 06/12/43		707
		ML-CFC Commercial Mortgage Trust,
	3,199	Series 2006-1, Class A4, VAR, 5.653%, 02/12/39		3,440

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Commercial Mortgage-Backed Securities — Continued
	29,383	Series 2006-4, Class XC, IO, VAR, 0.246%, 12/12/49 (e)		342
		Morgan Stanley Capital I Trust,
	35,959	Series 2006-IQ12, Class X1, IO, VAR, 0.161%, 12/15/43 (e)		484
	71,721	Series 2007-HQ11, Class X, IO, VAR, 0.398%, 02/12/44 (e)		375
	764	Series 2011-C3, Class A3, 4.054%, 07/15/49		819
		Morgan Stanley Re-REMIC Trust,
	2,448	Series 2010-HQ4B, Class A7A, 4.970%, 04/16/40 (e)		2,470
	1,548	Series 2011-IO, Class A, 2.500%, 03/23/51 (e)		1,568
	1,387	Series 2012-IO, Class AXA, 1.000%, 03/27/51 (e)		1,387
	5,522	Series 2012-XA, Class A, 2.000%, 07/27/49 (e)		5,561
	1,800	Series 2012-XA, Class B, 0.250%, 07/27/49 (e)		1,485
		NCUA Guaranteed Notes Trust,
	20,500	Series 2010-C1, Class A2, 2.900%, 10/29/20		21,355
	10,773	Series 2010-C1, Class APT, 2.650%, 10/29/20		11,145
	2,049	NorthStar Mortgage Trust, Series 2012-1, Class A, VAR, 1.367%, 08/25/29 (e)		2,049
		N-Star Real Estate CDO Ltd., (Cayman Islands),
	2,450	Series 2013-1A, Class A, VAR, 2.016%, 08/25/29 (e)		2,452
	1,392	Series 2013-1A, Class B, VAR, 5.170%, 08/25/29 (e)		1,383
	2,850	ORES NPL LLC, Series 2013-LV2, Class A, 3.081%, 09/25/25 (e)		2,851
	664	RBS Commercial Funding, Inc. Trust, Series 2013-SMV, Class A, 3.260%, 03/11/31 (e)		618
	1,890	RCMC LLC, Series 2012-CRE1, Class A, 5.623%, 11/15/44 (e)		1,895
	2,908	TIAA Seasoned Commercial Mortgage Trust, Series 2007-C4, Class A3, VAR, 5.570%, 08/15/39		2,997
	2,236	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		2,161
		UBS-Barclays Commercial Mortgage Trust,
	1,053	Series 2012-C2, Class A4, 3.525%, 05/10/63		1,057
	10,417	Series 2012-C2, Class XA, IO, VAR, 1.955%, 05/10/63 (e)		947
	857	Series 2013-C6, Class A4, 3.244%, 04/10/46		833
	2,995	VFC LLC, (Cayman Islands), Series 2013-1, Class A, 3.130%, 03/20/26 (e)		3,013
	1,398	VNDO Mortgage Trust, Series 2012-6AVE, Class A, 2.996%, 11/15/30 (e)		1,325
	2,500	Wells Fargo Commercial Mortgage Trust, Series 2013-120B, Class A, VAR, 2.800%, 03/18/28 (e)		2,442
	2,138	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		2,133
		WFRBS Commercial Mortgage Trust,
	1,700	Series 2011-C3, Class A4, 4.375%, 03/15/44 (e)		1,814
	800	Series 2012-C6, Class A4, 3.440%, 04/15/45		810
		Total Commercial Mortgage-Backed Securities (Cost $143,347)		146,329
	Corporate Bonds — 17.8%
		Consumer Discretionary — 1.2%
		Auto Components — 0.1%
		Johnson Controls, Inc.,
	591	3.750%, 12/01/21		595
	675	4.250%, 03/01/21		699
	1,000	5.250%, 12/01/41		991
				2,285
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	421	1.650%, 04/10/15 (e)		425
	532	1.875%, 01/11/18 (e)		530
	981	2.375%, 08/01/18 (e)		986
	739	2.625%, 09/15/16 (e)		767
	1,425	2.950%, 01/11/17 (e)		1,478
				4,186
		Household Durables — 0.0% (g)
	505	Newell Rubbermaid, Inc., 4.700%, 08/15/20		533
		Media — 0.8%
		21st Century Fox America, Inc.,
	100	6.200%, 12/15/34		110
	400	6.650%, 11/15/37		463
	250	6.900%, 08/15/39		295

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Media — Continued
	1,075	7.300%, 04/30/28		1,281
	500	8.000%, 10/17/16		592
	415	8.875%, 04/26/23		537
		CBS Corp.,
	140	5.500%, 05/15/33		140
	252	5.750%, 04/15/20		285
	150	7.875%, 09/01/23		180
	1,000	7.875%, 07/30/30		1,230
	190	8.875%, 05/15/19		244
	250	Comcast Cable Communications Holdings, Inc., 9.455%, 11/15/22		350
		Comcast Corp.,
	1,082	4.250%, 01/15/33		1,001
	2,885	5.900%, 03/15/16		3,210
	400	6.450%, 03/15/37		463
	1,355	6.500%, 11/15/35		1,562
		COX Communications, Inc.,
	446	3.250%, 12/15/22 (e)		408
	162	5.450%, 12/15/14		170
	125	8.375%, 03/01/39 (e)		153
	450	Cox Enterprises, Inc., 7.375%, 07/15/27 (e)		519
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	400	3.800%, 03/15/22		382
	1,000	4.600%, 02/15/21		1,024
	772	5.000%, 03/01/21		806
	2,000	6.000%, 08/15/40		1,945
		Discovery Communications LLC,
	1,016	4.375%, 06/15/21		1,061
	319	4.950%, 05/15/42		298
	1,177	Historic TW, Inc., 9.150%, 02/01/23		1,585
		NBCUniversal Media LLC,
	300	4.375%, 04/01/21		322
	800	5.950%, 04/01/41		871
	515	6.400%, 04/30/40		591
		Thomson Reuters Corp., (Canada),
	1,278	3.950%, 09/30/21		1,288
	441	4.500%, 05/23/43		372
	325	4.700%, 10/15/19		357
		Time Warner Cable, Inc.,
	359	5.500%, 09/01/41		291
	1,218	5.850%, 05/01/17		1,343
	400	6.550%, 05/01/37		368
	800	8.250%, 04/01/19		939
		Time Warner Entertainment Co. LP,
	120	8.375%, 03/15/23		139
	1,250	8.375%, 07/15/33		1,359
		Time Warner, Inc.,
	525	4.750%, 03/29/21		565
	313	5.375%, 10/15/41		311
	150	6.200%, 03/15/40		163
	172	6.250%, 03/29/41		189
	265	6.500%, 11/15/36		295
	250	7.625%, 04/15/31		311
	171	7.700%, 05/01/32		216
		Viacom, Inc.,
	208	1.250%, 02/27/15		209
	500	3.125%, 06/15/22		469
	67	3.250%, 03/15/23		62
	808	3.875%, 12/15/21		810
	464	4.375%, 03/15/43		386
	100	4.500%, 03/01/21		105
	250	4.500%, 02/27/42		215
	333	Walt Disney Co. (The), 0.450%, 12/01/15		333
				33,173
		Multiline Retail — 0.1%
	275	Kohl’s Corp., 6.250%, 12/15/17		318
		Macy’s Retail Holdings, Inc.,
	516	2.875%, 02/15/23		468
	462	4.375%, 09/01/23		467

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Multiline Retail — Continued
	157	5.125%, 01/15/42		149
	200	7.450%, 07/15/17		237
	455	Nordstrom, Inc., 4.000%, 10/15/21		475
		Target Corp.,
	200	6.000%, 01/15/18		235
	268	7.000%, 01/15/38		343
				2,692
		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		1,950
		Lowe’s Cos., Inc.,
	739	4.650%, 04/15/42		709
	326	5.125%, 11/15/41		336
	750	Series B, 7.110%, 05/15/37		930
				4,516
		Total Consumer Discretionary		47,385
		Consumer Staples — 0.9%
		Beverages — 0.3%
		Anheuser-Busch Cos. LLC,
	600	5.500%, 01/15/18		690
	905	5.750%, 04/01/36		1,014
		Anheuser-Busch InBev Worldwide, Inc.,
	114	1.500%, 07/14/14		115
	515	7.750%, 01/15/19		650
		Coca-Cola Co. (The),
	500	3.625%, 03/15/14		505
	410	4.875%, 03/15/19		469
		Diageo Capital plc, (United Kingdom),
	264	1.500%, 05/11/17		266
	510	4.828%, 07/15/20		566
	800	Diageo Finance B.V., (Netherlands), 5.300%, 10/28/15		870
	255	Diageo Investment Corp., 8.000%, 09/15/22		334
	890	FBG Finance Pty Ltd., (Australia), 5.125%, 06/15/15 (e)		947
	355	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		352
		PepsiCo, Inc.,
	150	0.800%, 08/25/14		150
	287	1.250%, 08/13/17		286
	368	3.000%, 08/25/21		362
	54	7.900%, 11/01/18		69
	500	VAR, 0.447%, 02/26/16		501
		SABMiller Holdings, Inc.,
	574	1.850%, 01/15/15 (e)		582
	698	3.750%, 01/15/22 (e)		707
		SABMiller plc, (United Kingdom),
	700	5.700%, 01/15/14 (e)		704
	250	6.500%, 07/01/16 (e)		284
				10,423
		Food & Staples Retailing — 0.3%
		CVS Caremark Corp.,
	979	5.750%, 05/15/41		1,063
	250	6.125%, 09/15/39		284
	1,063	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		1,154
		Kroger Co. (The),
	1,100	5.000%, 04/15/42		1,041
	850	7.500%, 01/15/14		857
	2,460	7.500%, 04/01/31		3,004
	1,031	Walgreen Co., 3.100%, 09/15/22		970
		Wal-Mart Stores, Inc.,
	752	5.250%, 09/01/35		810
	215	6.200%, 04/15/38		257
	350	7.550%, 02/15/30		468
				9,908
		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		1,626
	191	Bunge N.A. Finance LP, 5.900%, 04/01/17		211
		Cargill, Inc.,
	600	3.300%, 03/01/22 (e)		585
	535	4.307%, 05/14/21 (e)		562

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Food Products — Continued
	850	7.350%, 03/06/19 (e)		1,048
		ConAgra Foods, Inc.,
	223	1.300%, 01/25/16		224
	286	2.100%, 03/15/18		287
		Kellogg Co.,
	365	1.750%, 05/17/17		369
	608	3.125%, 05/17/22		587
		Kraft Foods Group, Inc.,
	814	3.500%, 06/06/22		796
	694	5.000%, 06/04/42		678
	1,187	6.125%, 08/23/18		1,401
	1,793	6.875%, 01/26/39		2,165
		Mondelez International, Inc.,
	378	6.125%, 02/01/18		443
	1,480	6.500%, 08/11/17		1,747
				12,953
		Household Products — 0.0% (g)
		Kimberly-Clark Corp.,
	220	2.400%, 03/01/22		208
	66	7.500%, 11/01/18		83
	806	Procter & Gamble—ESOP, Series A, 9.360%, 01/01/21		1,020
	110	Procter & Gamble Co. (The), 5.500%, 02/01/34		125
				1,436
		Total Consumer Staples		34,720
		Energy — 1.5%
		Energy Equipment & Services — 0.2%
	225	Cameron International Corp., 1.600%, 04/30/15		227
		Halliburton Co.,
	714	3.500%, 08/01/23		700
	1,605	7.450%, 09/15/39		2,139
	188	National Oilwell Varco, Inc., 1.350%, 12/01/17		187
		Noble Holding International Ltd., (Cayman Islands),
	113	3.950%, 03/15/22		111
	83	5.250%, 03/15/42		79
	441	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		441
		Transocean, Inc., (Cayman Islands),
	361	3.800%, 10/15/22		345
	256	6.375%, 12/15/21		287
	905	6.500%, 11/15/20		1,025
	198	7.350%, 12/15/41		231
	100	7.500%, 04/15/31		114
		Weatherford International Ltd., (Bermuda),
	311	4.500%, 04/15/22		314
	113	5.950%, 04/15/42		112
	110	6.500%, 08/01/36		115
	350	9.875%, 03/01/39		487
				6,914
		Oil, Gas & Consumable Fuels — 1.3%
	160	Alberta Energy Co., Ltd., (Canada), 7.375%, 11/01/31		188
		Anadarko Petroleum Corp.,
	125	5.750%, 06/15/14		128
	2,000	7.625%, 03/15/14		2,039
	265	8.700%, 03/15/19		346
		Apache Corp.,
	615	2.625%, 01/15/23		572
	190	3.250%, 04/15/22		189
	556	4.750%, 04/15/43		546
	500	6.900%, 09/15/18		614
	235	BG Energy Capital plc, (United Kingdom), 5.125%, 10/15/41 (e)		237
		BP Capital Markets plc, (United Kingdom),
	92	1.375%, 11/06/17		92
	929	1.846%, 05/05/17		947
	882	2.750%, 05/10/23		816
	900	4.742%, 03/11/21		987
	200	Burlington Resources Finance Co., (Canada), 7.400%, 12/01/31		264
		Canadian Natural Resources Ltd., (Canada),
	350	6.250%, 03/15/38		393

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Oil, Gas & Consumable Fuels — Continued
	1,000	6.750%, 02/01/39		1,184
		Cenovus Energy, Inc., (Canada),
	208	3.000%, 08/15/22		196
	490	4.450%, 09/15/42		442
	450	6.750%, 11/15/39		536
		Chevron Corp.,
	559	2.427%, 06/24/20		554
	1,000	4.950%, 03/03/19		1,144
	205	Conoco Funding Co., (Canada), 7.250%, 10/15/31		269
		ConocoPhillips,
	325	5.200%, 05/15/18		371
	450	5.750%, 02/01/19		530
	150	6.000%, 01/15/20		177
	200	6.500%, 02/01/39		251
	1,045	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		1,183
		Devon Energy Corp.,
	750	3.250%, 05/15/22		722
	522	4.750%, 05/15/42		481
	360	6.300%, 01/15/19		422
		Encana Corp., (Canada),
	545	6.500%, 05/15/19		647
	150	6.500%, 08/15/34		164
	925	Eni S.p.A., (Italy), 5.700%, 10/01/40 (e)		881
		EOG Resources, Inc.,
	379	2.625%, 03/15/23		350
	600	4.100%, 02/01/21		636
	180	Hess Corp., 7.875%, 10/01/29		227
		Kerr-McGee Corp.,
	200	6.950%, 07/01/24		239
	1,000	7.875%, 09/15/31		1,272
		Magellan Midstream Partners LP,
	1,027	5.150%, 10/15/43		1,025
	250	6.550%, 07/15/19		298
		Marathon Oil Corp.,
	888	5.900%, 03/15/18		1,018
	1,620	6.000%, 10/01/17		1,855
	402	Occidental Petroleum Corp., 1.750%, 02/15/17		408
	841	Petrobras Global Finance B.V., (Netherlands), 4.375%, 05/20/23		764
		Petrobras International Finance Co., (Cayman Islands),
	1,020	5.375%, 01/27/21		1,023
	110	6.750%, 01/27/41		105
	175	7.875%, 03/15/19		202
		Petro-Canada, (Canada),
	324	6.050%, 05/15/18		379
	1,045	6.800%, 05/15/38		1,257
		Phillips 66,
	314	2.950%, 05/01/17		328
	182	4.300%, 04/01/22		187
	831	Sinopec Group Overseas Development Ltd., (United Kingdom), 4.375%, 10/17/23 (e)		827
		Spectra Energy Capital LLC,
	1,615	5.500%, 03/01/14		1,633
	1,500	5.650%, 03/01/20		1,636
	500	6.200%, 04/15/18		573
	400	8.000%, 10/01/19		488
		Spectra Energy Partners LP,
	524	2.950%, 09/25/18		536
	452	5.950%, 09/25/43		481
		Statoil ASA, (Norway),
	906	1.150%, 05/15/18		885
	353	1.200%, 01/17/18		348
	406	2.450%, 01/17/23		372
	1,071	2.650%, 01/15/24		980
	313	2.900%, 11/08/20		315
	467	3.125%, 08/17/17		498
	300	3.150%, 01/23/22		294

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Oil, Gas & Consumable Fuels — Continued
	253	4.250%, 11/23/41		233
		Suncor Energy, Inc., (Canada),
	180	5.950%, 12/01/34		196
	250	6.850%, 06/01/39		303
		Talisman Energy, Inc., (Canada),
	1,125	5.500%, 05/15/42		1,028
	185	5.850%, 02/01/37		173
	190	6.250%, 02/01/38		189
	850	7.750%, 06/01/19		1,026
	554	Texas Eastern Transmission LP, 2.800%, 10/15/22 (e)		503
		Tosco Corp.,
	300	7.800%, 01/01/27		403
	400	8.125%, 02/15/30		555
	124	Total Capital Canada Ltd., (Canada), VAR, 0.624%, 01/15/16		125
		Total Capital International S.A., (France),
	135	0.750%, 01/25/16		135
	262	1.500%, 02/17/17		265
	508	1.550%, 06/28/17		514
	233	2.875%, 02/17/22		224
		Total Capital S.A., (France),
	1,400	2.300%, 03/15/16		1,451
	370	4.125%, 01/28/21		394
		TransCanada PipeLines Ltd., (Canada),
	550	6.200%, 10/15/37		625
	340	6.500%, 08/15/18		407
	1,100	7.250%, 08/15/38		1,399
	2,000	XTO Energy, Inc., 5.750%, 12/15/13		2,004
				52,103
		Total Energy		59,017
		Financials — 8.6%
		Capital Markets — 1.9%
	1,500	Ameriprise Financial, Inc., 4.000%, 10/15/23		1,517
		Bank of New York Mellon Corp. (The),
	357	1.200%, 02/20/15		360
	1,789	2.400%, 01/17/17		1,854
	900	2.950%, 06/18/15		934
	413	3.550%, 09/23/21		423
	750	4.600%, 01/15/20		820
		BlackRock, Inc.,
	1,200	3.375%, 06/01/22		1,205
	540	3.500%, 12/10/14		557
	652	5.000%, 12/10/19		747
	385	6.250%, 09/15/17		449
	1,940	Blackstone Holdings Finance Co. LLC, 5.875%, 03/15/21 (e)		2,162
	260	Charles Schwab Corp. (The), 3.225%, 09/01/22		254
	942	Credit Suisse, (Switzerland), 5.500%, 05/01/14		962
	755	Credit Suisse USA, Inc., 5.125%, 08/15/15		812
		Deutsche Bank AG, (Germany),
	650	3.250%, 01/11/16		683
	970	3.875%, 08/18/14		994
	355	6.000%, 09/01/17		409
	500	FMR LLC, 6.450%, 11/15/39 (e)		568
		Goldman Sachs Group, Inc. (The),
	764	2.900%, 07/19/18		784
	400	3.300%, 05/03/15		413
	3,060	3.625%, 02/07/16		3,228
	492	3.700%, 08/01/15		514
	2,658	5.150%, 01/15/14		2,672
	848	5.250%, 07/27/21		933
	1,366	5.375%, 03/15/20		1,531
	750	5.500%, 11/15/14		785
	800	5.750%, 01/24/22		903
	4,100	5.950%, 01/18/18		4,701
	949	Series D, 6.000%, 06/15/20		1,097
	240	6.150%, 04/01/18		278
	340	6.250%, 09/01/17		392
	685	6.750%, 10/01/37		760

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Capital Markets — Continued
	2,570	7.500%, 02/15/19		3,166
		ING Bank N.V., (Netherlands),
	500	1.375%, 03/07/16 (e)		501
	216	2.000%, 09/25/15 (e)		219
	1,445	3.750%, 03/07/17 (e)		1,537
	657	Invesco Finance plc, (United Kingdom), 4.000%, 01/30/24		659
		Jefferies Group LLC,
	450	3.875%, 11/09/15		468
	1,015	5.125%, 04/13/18		1,104
	1,000	6.450%, 06/08/27		1,037
	203	6.500%, 01/20/43		200
	780	8.500%, 07/15/19		952
		Macquarie Bank Ltd., (Australia),
	373	2.000%, 08/15/16 (e)		379
	2,847	5.000%, 02/22/17 (e)		3,119
		Macquarie Group Ltd., (Australia),
	1,200	6.000%, 01/14/20 (e)		1,329
	1,400	6.250%, 01/14/21 (e)		1,558
	750	7.300%, 08/01/14 (e)		782
	250	7.625%, 08/13/19 (e)		303
		Merrill Lynch & Co., Inc.,
	2,215	5.450%, 07/15/14		2,280
	2,996	6.400%, 08/28/17		3,483
	1,564	6.875%, 04/25/18		1,867
		Morgan Stanley,
	179	1.750%, 02/25/16		182
	625	4.000%, 07/24/15		655
	893	4.200%, 11/20/14		923
	871	5.000%, 11/24/25		872
	1,000	5.450%, 01/09/17		1,116
	1,021	5.500%, 07/24/20		1,152
	380	5.500%, 07/28/21		428
	1,265	5.625%, 09/23/19		1,452
	360	5.750%, 01/25/21		410
	1,200	6.000%, 05/13/14		1,229
	400	6.625%, 04/01/18		472
	970	7.300%, 05/13/19		1,190
		Nomura Holdings, Inc., (Japan),
	1,050	4.125%, 01/19/16		1,109
	150	5.000%, 03/04/15		157
	547	6.700%, 03/04/20		628
		State Street Corp.,
	359	3.100%, 05/15/23		335
	1,154	3.700%, 11/20/23		1,151
		UBS AG, (Switzerland),
	1,337	3.875%, 01/15/15		1,386
	365	4.875%, 08/04/20		407
	244	5.750%, 04/25/18		284
	247	5.875%, 12/20/17		286
				75,468
		Commercial Banks — 2.5%
	669	ABN AMRO Bank N.V., (Netherlands), 2.500%, 10/30/18 (e)		673
	550	ANZ New Zealand International Ltd., (New Zealand), 3.125%, 08/10/15 (e)		572
		Australia & New Zealand Banking Group Ltd., (Australia),
	1,268	2.400%, 11/23/16 (e)		1,321
	900	3.250%, 03/01/16 (e)		949
	228	4.875%, 01/12/21 (e)		249
		Bank of Montreal, (Canada),
	741	1.300%, 10/31/14 (e)		748
	1,666	1.400%, 09/11/17		1,659
	1,106	2.550%, 11/06/22		1,024
		Bank of Nova Scotia, (Canada),
	1,034	1.650%, 10/29/15 (e)		1,057
	2,000	2.550%, 01/12/17		2,080
	737	3.400%, 01/22/15		762
		Bank of Tokyo-Mitsubishi UFJ Ltd. (The), (Japan),
	1,275	2.350%, 02/23/17 (e)		1,307

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	679	3.850%, 01/22/15 (e)		702
		Barclays Bank plc, (United Kingdom),
	276	2.250%, 05/10/17 (e)		287
	800	2.500%, 09/21/15 (e)		826
	1,735	2.750%, 02/23/15		1,778
	310	5.000%, 09/22/16		344
	700	5.200%, 07/10/14		720
	1,000	6.050%, 12/04/17 (e)		1,129
		BB&T Corp.,
	750	3.950%, 04/29/16		805
	740	4.900%, 06/30/17		820
	1,885	5.700%, 04/30/14		1,925
	370	6.850%, 04/30/19		453
	695	Branch Banking & Trust Co., 5.625%, 09/15/16		780
		Canadian Imperial Bank of Commerce, (Canada),
	226	0.900%, 10/01/15		228
	4,000	2.600%, 07/02/15 (e)		4,137
	1,650	Capital One Bank USA N.A., 3.375%, 02/15/23		1,552
	260	Comerica, Inc., 3.000%, 09/16/15		271
	1,080	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		1,118
		Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., (Netherlands),
	143	2.125%, 10/13/15		147
	2,400	3.200%, 03/11/15 (e)		2,480
	455	3.375%, 01/19/17		484
	789	3.875%, 02/08/22		796
	500	5.800%, 09/30/10 (e) (††)		505
	2,011	DNB Boligkreditt A.S., (Norway), 2.100%, 10/14/15 (e)		2,067
	760	Fifth Third Bancorp, 5.450%, 01/15/17		840
		HSBC Bank plc, (United Kingdom),
	1,438	1.500%, 05/15/18 (e)		1,415
	1,745	1.625%, 07/07/14 (e)		1,760
	666	4.125%, 08/12/20 (e)		705
	575	4.750%, 01/19/21 (e)		625
		HSBC Holdings plc, (United Kingdom),
	500	4.000%, 03/30/22		515
	530	4.875%, 01/14/22		576
	556	5.100%, 04/05/21		618
	600	6.100%, 01/14/42		718
	2,100	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		2,459
		National Australia Bank Ltd., (Australia),
	1,500	2.000%, 06/20/17 (e)		1,539
	750	2.750%, 09/28/15 (e)		778
	1,000	3.000%, 07/27/16 (e)		1,050
	795	3.750%, 03/02/15 (e)		827
	1,353	National Bank of Canada, (Canada), 1.650%, 01/30/14 (e)		1,356
	250	National City Bank, 5.800%, 06/07/17		285
		Nordea Bank AB, (Sweden),
	1,000	1.625%, 05/15/18 (e)		986
	1,800	3.125%, 03/20/17 (e)		1,895
	945	4.875%, 05/13/21 (e)		988
	837	Oversea-Chinese Banking Corp., Ltd., (Singapore), 1.625%, 03/13/15 (e)		847
	400	PNC Bank N.A., 6.875%, 04/01/18		479
		PNC Funding Corp.,
	659	3.300%, 03/08/22		648
	567	4.375%, 08/11/20		608
	940	5.250%, 11/15/15		1,016
	950	5.625%, 02/01/17		1,059
	595	6.700%, 06/10/19		724
		Royal Bank of Canada, (Canada),
	985	1.200%, 09/19/17		985
	1,789	2.000%, 10/01/18		1,809
	1,000	2.200%, 07/27/18		1,011
	402	Skandinaviska Enskilda Banken AB, (Sweden), 1.750%, 03/19/18 (e)		397
	927	SpareBank 1 Boligkreditt A.S., (Norway), 1.750%, 11/15/19 (e)		897

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	1,148	Stadshypotek AB, (Sweden), 1.875%, 10/02/19 (e)		1,127
	1,300	Standard Chartered plc, (United Kingdom), 5.200%, 01/26/24 (e)		1,321
	820	SunTrust Banks, Inc., 6.000%, 09/11/17		941
	1,411	Svenska Handelsbanken AB, (Sweden), 3.125%, 07/12/16		1,483
		Toronto-Dominion Bank (The), (Canada),
	2,350	1.500%, 03/13/17 (e)		2,390
	1,140	2.200%, 07/29/15 (e)		1,173
		U.S. Bancorp,
	550	1.650%, 05/15/17		558
	675	2.450%, 07/27/15		696
	540	3.000%, 03/15/22		528
	566	4.125%, 05/24/21		603
	1,107	7.500%, 06/01/26		1,394
		Wachovia Bank N.A.,
	1,000	5.600%, 03/15/16		1,102
	250	6.000%, 11/15/17		291
	4,780	Wachovia Corp., 5.750%, 02/01/18		5,594
		Wells Fargo & Co.,
	1,826	2.625%, 12/15/16		1,915
	850	3.500%, 03/08/22		860
	702	4.480%, 01/16/24 (e)		697
	500	4.600%, 04/01/21		550
	1,280	5.606%, 01/15/44 (e)		1,307
	2,350	5.625%, 12/11/17		2,723
	1,025	SUB, 3.676%, 06/15/16		1,097
		Wells Fargo Bank N.A.,
	1,515	4.750%, 02/09/15		1,585
	250	5.750%, 05/16/16		278
		Westpac Banking Corp., (Australia),
	900	4.200%, 02/27/15		942
	2,141	4.875%, 11/19/19		2,416
				100,741
		Consumer Finance — 0.9%
	700	American Express Co., 7.000%, 03/19/18		846
		American Express Credit Corp.,
	361	2.375%, 03/24/17		375
	1,028	2.800%, 09/19/16		1,079
	1,150	5.125%, 08/25/14		1,190
		American Honda Finance Corp.,
	667	1.450%, 02/27/15 (e)		675
	363	1.500%, 09/11/17 (e)		361
	533	1.600%, 02/16/18 (e)		529
	565	2.125%, 02/28/17 (e)		576
	417	2.125%, 10/10/18		422
	1,599	2.600%, 09/20/16 (e)		1,671
	150	7.625%, 10/01/18 (e)		187
		Capital One Financial Corp.,
	273	1.000%, 11/06/15		273
	1,281	3.500%, 06/15/23		1,218
	2,140	7.375%, 05/23/14		2,208
		Caterpillar Financial Services Corp.,
	402	2.850%, 06/01/22		384
	560	5.500%, 03/15/16		617
	305	7.050%, 10/01/18		374
	545	7.150%, 02/15/19		676
		Ford Motor Credit Co. LLC,
	513	2.875%, 10/01/18		526
	1,253	3.000%, 06/12/17		1,310
	1,917	3.984%, 06/15/16		2,047
	561	4.207%, 04/15/16		601
	200	4.250%, 09/20/22		203
	803	VAR, 1.489%, 05/09/16		815
		HSBC Finance Corp.,
	3,538	5.000%, 06/30/15		3,754
	2,200	5.250%, 01/15/14		2,213
	207	7.350%, 11/27/32		243
		HSBC USA, Inc.,
	800	1.625%, 01/16/18		797

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Consumer Finance — Continued
	1,500	2.375%, 02/13/15		1,533
		John Deere Capital Corp.,
	759	1.200%, 10/10/17		751
	335	1.700%, 01/15/20		317
	400	2.250%, 04/17/19		404
	233	3.150%, 10/15/21		233
	874	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		864
	663	PACCAR Financial Corp., 1.600%, 03/15/17		669
		Toyota Motor Credit Corp.,
	1,120	1.000%, 02/17/15		1,129
	2,480	2.000%, 09/15/16		2,561
	558	2.000%, 10/24/18		561
	962	3.200%, 06/17/15		1,002
				36,194
		Diversified Financial Services — 1.8%
	1,221	Associates Corp. of North America, 6.950%, 11/01/18		1,462
		Bank of America Corp.,
	600	2.000%, 01/11/18		602
	520	3.625%, 03/17/16		549
	547	4.100%, 07/24/23		549
	2,065	5.000%, 05/13/21		2,261
	2,720	5.625%, 10/14/16		3,047
	740	5.625%, 07/01/20		846
	645	Series L, 5.650%, 05/01/18		738
	420	5.750%, 12/01/17		481
	400	5.875%, 01/05/21		459
	150	7.375%, 05/15/14		155
	600	7.625%, 06/01/19		750
	1,510	7.800%, 09/15/16		1,753
	1,455	Bank of America N.A., 5.300%, 03/15/17		1,622
	725	Caisse Centrale Desjardins, (Canada), 2.550%, 03/24/16 (e)		757
		Citigroup, Inc.,
	450	2.250%, 08/07/15		460
	423	3.375%, 03/01/23		406
	500	4.450%, 01/10/17		546
	433	4.500%, 01/14/22		458
	842	4.587%, 12/15/15		901
	856	4.700%, 05/29/15		902
	483	4.750%, 05/19/15		510
	3,127	5.000%, 09/15/14		3,225
	1,270	5.125%, 05/05/14		1,295
	1,225	5.375%, 08/09/20		1,389
	865	5.500%, 09/13/25		916
	321	5.875%, 01/30/42		359
	120	6.000%, 12/13/13		120
	2,154	6.000%, 08/15/17		2,479
	526	6.010%, 01/15/15		556
	350	6.125%, 11/21/17		407
	282	6.375%, 08/12/14		293
	250	6.625%, 01/15/28		295
	400	8.125%, 07/15/39		557
	1,409	8.500%, 05/22/19		1,831
		CME Group, Inc.,
	1,155	3.000%, 09/15/22		1,103
	259	5.300%, 09/15/43		271
	1,500	5.750%, 02/15/14		1,516
	400	Countrywide Financial Corp., 6.250%, 05/15/16		444
		General Electric Capital Corp.,
	167	1.000%, 12/11/15		168
	1,100	1.625%, 07/02/15		1,117
	750	2.300%, 04/27/17		774
	2,000	3.150%, 09/07/22		1,943
	650	4.625%, 01/07/21		716
	2,100	4.650%, 10/17/21		2,299
	191	5.300%, 02/11/21		213
	2,500	5.400%, 02/15/17		2,814

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Diversified Financial Services — Continued
	1,785	5.500%, 01/08/20		2,065
	4,380	5.625%, 05/01/18		5,083
	1,000	5.650%, 06/09/14		1,028
	310	5.875%, 01/14/38		351
	2,622	Series A, 6.750%, 03/15/32		3,250
	539	Hutchison Whampoa International 12 II Ltd., (Cayman Islands), 3.250%, 11/08/22 (e)		503
		IntercontinentalExchange Group, Inc.,
	417	2.500%, 10/15/18		426
	884	4.000%, 10/15/23		899
	1,120	Metlife of Connecticut Global Funding I, 5.125%, 08/15/14 (e)		1,156
	300	Murray Street Investment Trust I, SUB, 4.647%, 03/09/17		326
		National Rural Utilities Cooperative Finance Corp.,
	665	4.750%, 03/01/14		672
	200	10.375%, 11/01/18		274
	550	Principal Life Global Funding I, 5.050%, 03/15/15 (e)		579
	5,000	Private Export Funding Corp., Series EE, 2.800%, 05/15/22		4,937
		Shell International Finance B.V., (Netherlands),
	212	1.125%, 08/21/17		211
	275	4.000%, 03/21/14		278
	1,020	4.300%, 09/22/19		1,134
	1,005	4.375%, 03/25/20		1,104
	1,280	6.375%, 12/15/38		1,572
	300	Siemens Financieringsmaatschappij N.V., (Netherlands), 5.750%, 10/17/16 (e)		340
				73,502
		Insurance — 1.1%
		ACE INA Holdings, Inc.,
	455	2.600%, 11/23/15		472
	410	5.600%, 05/15/15		439
		Aflac, Inc.,
	228	2.650%, 02/15/17		238
	1,021	3.625%, 06/15/23		995
	260	4.000%, 02/15/22		266
	317	6.450%, 08/15/40		378
	200	8.500%, 05/15/19		260
	520	AIG SunAmerica Global Financing X, 6.900%, 03/15/32 (e)		640
	651	Allstate Corp. (The), 3.150%, 06/15/23		628
		American International Group, Inc.,
	469	4.125%, 02/15/24		474
	2,985	5.450%, 05/18/17		3,362
		Aon Corp.,
	402	3.125%, 05/27/16		421
	336	3.500%, 09/30/15		352
	306	6.250%, 09/30/40		351
		Berkshire Hathaway Finance Corp.,
	404	1.300%, 05/15/18		397
	233	2.450%, 12/15/15		242
	1,111	2.900%, 10/15/20		1,117
	233	3.000%, 05/15/22		226
	748	4.300%, 05/15/43		682
	1,574	4.400%, 05/15/42		1,451
	1,670	5.400%, 05/15/18		1,925
		Berkshire Hathaway, Inc.,
	1,387	3.400%, 01/31/22		1,391
	840	3.750%, 08/15/21		873
	120	Chubb Corp. (The), 5.750%, 05/15/18		140
		CNA Financial Corp.,
	750	5.850%, 12/15/14		789
	785	5.875%, 08/15/20		901
	408	Liberty Mutual Group, Inc., 5.000%, 06/01/21 (e)		434
		Lincoln National Corp.,
	345	4.200%, 03/15/22		357
	253	4.850%, 06/24/21		274
	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)		1,520

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Insurance — Continued
	626	2.500%, 10/17/22 (e)		570
	338	2.875%, 04/21/14 (e)		342
	540	3.125%, 04/14/16 (e)		566
	920	MetLife Institutional Funding II, VAR, 1.144%, 04/04/14 (e)		923
		MetLife, Inc.,
	600	4.875%, 11/13/43		590
	535	Series A, 6.817%, 08/15/18		649
		Metropolitan Life Global Funding I,
	604	1.700%, 06/29/15 (e)		614
	300	1.875%, 06/22/18 (e)		299
	1,150	2.000%, 01/10/14 (e)		1,152
	820	2.500%, 09/29/15 (e)		847
	400	3.125%, 01/11/16 (e)		417
	1,900	3.650%, 06/14/18 (e)		2,034
	1,277	3.875%, 04/11/22 (e)		1,299
	100	5.125%, 06/10/14 (e)		102
	1,750	Nationwide Mutual Insurance Co., 9.375%, 08/15/39 (e)		2,462
		New York Life Global Funding,
	740	0.750%, 07/24/15 (e)		742
	350	1.300%, 01/12/15 (e)		353
	650	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		685
	570	Pacific Life Insurance Co., 9.250%, 06/15/39 (e)		795
		Pricoa Global Funding I,
	384	1.600%, 05/29/18 (e)		376
	2,100	5.450%, 06/11/14 (e)		2,154
	166	Principal Financial Group, Inc., 1.850%, 11/15/17		166
		Principal Life Global Funding II,
	304	1.000%, 12/11/15 (e)		305
	953	2.250%, 10/15/18 (e)		956
	1,750	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		2,245
	275	Travelers Cos., Inc. (The), 5.800%, 05/15/18		321
				44,251
		Real Estate Investment Trusts (REITs) — 0.4%
	450	American Tower Corp., 3.500%, 01/31/23		413
	471	American Tower Trust I, 1.551%, 03/15/18 (e)		460
		CommonWealth REIT,
	600	5.875%, 09/15/20		618
	1,340	6.650%, 01/15/18		1,461
	608	ERP Operating LP, 4.625%, 12/15/21		650
		HCP, Inc.,
	331	2.625%, 02/01/20		320
	161	3.750%, 02/01/19		169
	577	4.250%, 11/15/23		574
	895	5.375%, 02/01/21		983
	732	Health Care REIT, Inc., 4.500%, 01/15/24		729
	534	ProLogis LP, 4.250%, 08/15/23		534
		Simon Property Group LP,
	917	2.150%, 09/15/17		939
	579	4.125%, 12/01/21		606
	32	4.200%, 02/01/15		33
	200	4.375%, 03/01/21		214
	705	5.625%, 08/15/14		730
	675	6.100%, 05/01/16		751
	345	6.125%, 05/30/18		406
	370	6.750%, 05/15/14		374
		WEA Finance LLC/WT Finance Aust Pty Ltd.,
	579	3.375%, 10/03/22 (e)		547
	1,848	6.750%, 09/02/19 (e)		2,222
				13,733
		Total Financials		343,889
		Health Care — 0.5%
		Biotechnology — 0.2%
		Amgen, Inc.,
	1,000	3.875%, 11/15/21		1,024
	237	4.500%, 03/15/20		254
	500	4.950%, 10/01/41		474
	2,000	5.150%, 11/15/41		1,967

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Biotechnology — Continued
	265	5.650%, 06/15/42		277
	570	5.700%, 02/01/19		663
	720	5.750%, 03/15/40		763
	1,336	Celgene Corp., 3.250%, 08/15/22		1,267
				6,689
		Health Care Equipment & Supplies — 0.0% (g)
		Baxter International, Inc.,
	286	1.850%, 06/15/18		287
	380	4.000%, 03/01/14		383
	245	4.625%, 03/15/15		258
	100	Becton Dickinson and Co., 5.000%, 05/15/19		114
				1,042
		Health Care Providers & Services — 0.1%
		Aetna, Inc.,
	265	4.500%, 05/15/42		245
	440	6.750%, 12/15/37		539
	164	McKesson Corp., 0.950%, 12/04/15		164
	370	Medco Health Solutions, Inc., 2.750%, 09/15/15		382
		UnitedHealth Group, Inc.,
	173	2.750%, 02/15/23		161
	400	2.875%, 03/15/23		376
	975	3.375%, 11/15/21		974
	620	6.625%, 11/15/37		755
		WellPoint, Inc.,
	467	2.300%, 07/15/18		468
	615	3.125%, 05/15/22		582
	280	3.300%, 01/15/23		265
	500	4.625%, 05/15/42		456
	535	4.650%, 01/15/43		491
				5,858
		Pharmaceuticals — 0.2%
		AbbVie, Inc.,
	952	1.750%, 11/06/17		959
	609	2.900%, 11/06/22		574
	275	Actavis, Inc., 3.250%, 10/01/22		258
	645	AstraZeneca plc, (United Kingdom), 5.400%, 06/01/14		661
		GlaxoSmithKline Capital, Inc.,
	485	4.375%, 04/15/14		492
	750	5.650%, 05/15/18		873
	530	6.375%, 05/15/38		655
		Merck & Co., Inc.,
	650	1.300%, 05/18/18		638
	474	2.400%, 09/15/22		438
	562	2.800%, 05/18/23		529
	650	Pfizer, Inc., 3.000%, 06/15/23		622
		Zoetis, Inc.,
	193	1.875%, 02/01/18		192
	123	4.700%, 02/01/43		114
				7,005
		Total Health Care		20,594
		Industrials — 1.0%
		Aerospace & Defense — 0.2%
	400	BAE Systems Holdings, Inc., 6.375%, 06/01/19 (e)		467
	676	BAE Systems plc, (United Kingdom), 5.800%, 10/11/41 (e)		709
	200	Boeing Co. (The), 7.950%, 08/15/24		272
	557	EADS Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		516
	390	Honeywell International, Inc., 5.300%, 03/01/18		448
		Lockheed Martin Corp.,
	387	2.125%, 09/15/16		399
	1,281	4.070%, 12/15/42		1,113
	292	4.850%, 09/15/41		288
	300	Northrop Grumman Systems Corp., 7.750%, 02/15/31		386
	215	Precision Castparts Corp., 0.700%, 12/20/15		215
		United Technologies Corp.,
	214	1.800%, 06/01/17		219
	681	3.100%, 06/01/22		669
	914	4.500%, 06/01/42		888

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Aerospace & Defense — Continued
	1,261	6.125%, 02/01/19		1,512
				8,101
		Air Freight & Logistics — 0.0% (g)
		United Parcel Service of America, Inc.,
	355	8.375%, 04/01/20		465
	160	SUB, 8.375%, 04/01/30		214
	214	United Parcel Service, Inc., 2.450%, 10/01/22		200
				879
		Airlines — 0.1%
	441	Air Canada 2013-1 Class A Pass-Through Trust, (Canada), 4.125%, 05/15/25 (e)		430
	228	American Airlines 2011-1 Class A Pass-Through Trust, 5.250%, 01/31/21		241
	688	American Airlines 2013-2 Class A Pass-Through Trust, 4.950%, 01/15/23 (e)		719
	240	Continental Airlines 1999-2 Class A-1 Pass-Through Trust, 7.256%, 03/15/20		267
	430	Continental Airlines 2007-1 Class A Pass-Through Trust, 5.983%, 04/19/22		470
	212	Continental Airlines 2012-2 Class A Pass-Through Trust, Class A, 4.000%, 10/29/24		210
	511	Delta Air Lines 2010-2 Class A Pass-Through Trust, 4.950%, 05/23/19		549
	188	Delta Air Lines 2011-1 Class A Pass-Through Trust, 5.300%, 04/15/19		204
	448	Delta Air Lines 2012-1 Class A Pass-Through Trust, 4.750%, 05/07/20		478
				3,568
		Commercial Services & Supplies — 0.1%
		ADT Corp. (The),
	820	3.500%, 07/15/22		718
	264	4.125%, 06/15/23		234
	328	4.875%, 07/15/42		249
	200	Pitney Bowes, Inc., 5.600%, 03/15/18		218
	614	Republic Services, Inc., 3.550%, 06/01/22		600
		Waste Management, Inc.,
	214	4.750%, 06/30/20		234
	455	7.375%, 03/11/19		554
				2,807
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	226	1.625%, 05/08/17		227
	292	2.875%, 05/08/22		280
	145	4.375%, 05/08/42		135
	789	Fluor Corp., 3.375%, 09/15/21		781
				1,423
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	182	1.500%, 11/02/17		180
	170	4.000%, 11/02/32		158
	500	5.600%, 05/15/18		569
	300	7.625%, 04/01/24		370
				1,277
		Industrial Conglomerates — 0.1%
	592	Danaher Corp., 3.900%, 06/23/21		621
	212	General Electric Co., 2.700%, 10/09/22		202
	412	Ingersoll-Rand Global Holding Co., Ltd., (Bermuda), 4.250%, 06/15/23 (e)		408
		Koninklijke Philips N.V., (Netherlands),
	970	3.750%, 03/15/22		979
	409	5.750%, 03/11/18		475
	130	7.200%, 06/01/26		157
				2,842
		Machinery — 0.1%
	164	Caterpillar, Inc., 2.600%, 06/26/22		154
		Deere & Co.,
	819	2.600%, 06/08/22		775
	346	3.900%, 06/09/42		305
	1,920	Illinois Tool Works, Inc., 3.900%, 09/01/42		1,651
	290	Ingersoll-Rand Co., 6.391%, 11/15/27		326
	205	Parker Hannifin Corp., 5.500%, 05/15/18		235
				3,446
		Road & Rail — 0.4%
		Burlington Northern Santa Fe LLC,
	200	3.000%, 03/15/23		186
	522	3.050%, 03/15/22		499
	300	3.450%, 09/15/21		299

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Road & Rail — Continued
	136	3.600%, 09/01/20		140
	375	4.375%, 09/01/42		339
	769	5.150%, 09/01/43		779
	1,000	5.400%, 06/01/41		1,032
	540	5.650%, 05/01/17		615
	250	5.750%, 03/15/18		289
	425	5.750%, 05/01/40		463
	250	6.700%, 08/01/28		296
	450	7.000%, 02/01/14		455
	250	Canadian Pacific Railway Co., (Canada), 7.125%, 10/15/31		302
		CSX Corp.,
	191	4.100%, 03/15/44		163
	300	4.250%, 06/01/21		315
	575	5.500%, 04/15/41		608
	145	6.250%, 04/01/15		156
	205	7.375%, 02/01/19		252
	500	7.900%, 05/01/17		601
		ERAC USA Finance LLC,
	154	2.250%, 01/10/14 (e)		154
	355	2.750%, 03/15/17 (e)		369
	559	4.500%, 08/16/21 (e)		584
	436	5.625%, 03/15/42 (e)		443
	350	6.375%, 10/15/17 (e)		407
	746	6.700%, 06/01/34 (e)		841
		Norfolk Southern Corp.,
	746	3.250%, 12/01/21		735
	595	3.950%, 10/01/42		502
	100	6.000%, 03/15/05		109
	1,776	6.000%, 05/23/11 (†)		1,915
	355	7.700%, 05/15/17		426
	479	Penske Truck Leasing Co. LP/PTL Finance Corp., 2.875%, 07/17/18 (e)		485
		Ryder System, Inc.,
	484	2.500%, 03/01/17		492
	434	3.600%, 03/01/16		456
		Union Pacific Corp.,
	182	2.950%, 01/15/23		171
	838	3.646%, 02/15/24 (e)		826
	710	4.163%, 07/15/22		743
	200	4.300%, 06/15/42		184
	235	4.875%, 01/15/15		246
				17,877
		Total Industrials		42,220
		Information Technology — 0.9%
		Communications Equipment — 0.1%
		Cisco Systems, Inc.,
	878	5.500%, 02/22/16		972
	350	5.500%, 01/15/40		376
	755	5.900%, 02/15/39		847
				2,195
		Computers & Peripherals — 0.2%
		Apple, Inc.,
	2,556	2.400%, 05/03/23		2,316
	2,069	VAR, 0.492%, 05/03/18		2,065
	300	Dell, Inc., 7.100%, 04/15/28		257
		EMC Corp.,
	850	1.875%, 06/01/18		849
	1,000	3.375%, 06/01/23		975
		Hewlett-Packard Co.,
	600	4.300%, 06/01/21		608
	781	4.375%, 09/15/21		786
	387	4.650%, 12/09/21		398
	670	4.750%, 06/02/14		683
	1,166	6.000%, 09/15/41		1,153
				10,090
		Electronic Equipment, Instruments & Components — 0.1%
		Arrow Electronics, Inc.,
	219	3.000%, 03/01/18		223
	575	3.375%, 11/01/15		597
	190	4.500%, 03/01/23		186

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Electronic Equipment, Instruments & Components — Continued
	165	6.000%, 04/01/20		179
	485	6.875%, 06/01/18		559
	1,088	7.500%, 01/15/27		1,246
				2,990
		Internet Software & Services — 0.0% (g)
		eBay, Inc.,
	300	2.600%, 07/15/22		279
	271	4.000%, 07/15/42		227
				506
		IT Services — 0.2%
		International Business Machines Corp.,
	409	1.250%, 02/06/17		411
	3,267	1.625%, 05/15/20		3,072
	2,600	5.700%, 09/14/17		3,010
	690	6.220%, 08/01/27		839
	1,075	7.625%, 10/15/18		1,360
				8,692
		Office Electronics — 0.0% (g)
		Xerox Corp.,
	196	2.950%, 03/15/17		202
	270	4.500%, 05/15/21		277
	610	5.625%, 12/15/19		682
	550	6.750%, 02/01/17		629
	100	8.250%, 05/15/14		103
				1,893
		Semiconductors & Semiconductor Equipment — 0.1%
		Intel Corp.,
	697	3.300%, 10/01/21		702
	685	4.000%, 12/15/32		632
	1,360	National Semiconductor Corp., 6.600%, 06/15/17		1,591
		Texas Instruments, Inc.,
	750	1.375%, 05/15/14		754
	365	1.650%, 08/03/19		354
				4,033
		Software — 0.2%
	360	Intuit, Inc., 5.750%, 03/15/17		402
		Microsoft Corp.,
	262	0.875%, 11/15/17		259
	720	1.625%, 09/25/15		737
	384	2.125%, 11/15/22		347
	810	2.375%, 05/01/23		735
	117	4.500%, 10/01/40		111
		Oracle Corp.,
	1,000	3.625%, 07/15/23		995
	500	5.000%, 07/08/19		571
	1,412	5.250%, 01/15/16		1,547
	728	5.750%, 04/15/18		851
	465	6.500%, 04/15/38		565
				7,120
		Total Information Technology		37,519
		Materials — 0.5%
		Chemicals — 0.3%
		Dow Chemical Co. (The),
	542	3.000%, 11/15/22		505
	385	4.125%, 11/15/21		396
	203	4.250%, 11/15/20		218
	200	5.250%, 11/15/41		201
	370	7.375%, 11/01/29		472
	158	8.550%, 05/15/19		204
		E.I. du Pont de Nemours & Co.,
	635	1.950%, 01/15/16		651
	350	4.900%, 01/15/41		348
	1,630	6.000%, 07/15/18		1,921
		Ecolab, Inc.,
	447	1.450%, 12/08/17		441
	150	5.500%, 12/08/41		160
		Mosaic Co. (The),
	280	3.750%, 11/15/21		277
	1,416	4.250%, 11/15/23		1,409
	79	4.875%, 11/15/41		72
	861	5.450%, 11/15/33		880

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Chemicals — Continued
	347	5.625%, 11/15/43		353
	85	Potash Corp. of Saskatchewan, Inc., (Canada), 3.250%, 12/01/17		90
		PPG Industries, Inc.,
	114	5.500%, 11/15/40		120
	700	6.650%, 03/15/18		822
	355	9.000%, 05/01/21		461
		Praxair, Inc.,
	662	4.625%, 03/30/15		698
	885	5.250%, 11/15/14		926
		Union Carbide Corp.,
	1,000	7.500%, 06/01/25		1,169
	850	7.750%, 10/01/96		926
				13,720
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	815	3.850%, 09/30/23		821
	410	5.400%, 03/29/17		463
	425	5.500%, 04/01/14		432
	560	6.500%, 04/01/19		680
		Freeport-McMoRan Copper & Gold, Inc.,
	1,329	2.150%, 03/01/17		1,332
	688	3.100%, 03/15/20		665
	400	3.875%, 03/15/23		376
	299	5.450%, 03/15/43		281
	283	Nucor Corp., 4.000%, 08/01/23		278
	295	Placer Dome, Inc., (Canada), 6.450%, 10/15/35		271
		Rio Tinto Finance USA Ltd., (Australia),
	117	3.500%, 11/02/20		118
	550	3.750%, 09/20/21		553
	650	9.000%, 05/01/19		855
	393	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		393
				7,518
		Total Materials		21,238
		Telecommunication Services — 1.2%
		Diversified Telecommunication Services — 1.0%
		AT&T, Inc.,
	386	0.800%, 12/01/15		386
	345	0.900%, 02/12/16		345
	879	4.300%, 12/15/42		733
	462	4.350%, 06/15/45		382
	850	4.450%, 05/15/21		892
	375	5.350%, 09/01/40		362
	250	5.500%, 02/01/18		284
	2,700	6.300%, 01/15/38		2,921
	1,373	BellSouth Corp., 5.200%, 09/15/14		1,423
	578	BellSouth Telecommunications LLC, 6.300%, 12/15/15		609
		British Telecommunications plc, (United Kingdom),
	200	2.000%, 06/22/15		203
	150	9.625%, 12/15/30		223
	1,583	Cellco Partnership/Verizon Wireless Capital LLC, 8.500%, 11/15/18		2,036
	600	Centel Capital Corp., 9.000%, 10/15/19		726
		CenturyLink, Inc.,
	1,380	Series S, 6.450%, 06/15/21		1,439
	770	Series P, 7.600%, 09/15/39		697
		Deutsche Telekom International Finance B.V., (Netherlands),
	336	2.250%, 03/06/17 (e)		344
	1,150	4.875%, 07/08/14		1,178
	232	4.875%, 03/06/42 (e)		221
	400	6.000%, 07/08/19		470
	325	8.607%, 06/15/30		459
	2,600	GTE Corp., 6.840%, 04/15/18		3,059
	1,742	GTP Acquisition Partners I LLC, 4.347%, 06/15/16 (e)		1,843
	267	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		267
		Orange S.A., (France),
	560	2.750%, 09/14/16		582
	1,305	8.750%, 03/01/31		1,798

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Diversified Telecommunication Services — Continued
	741	Qwest Corp., 6.750%, 12/01/21		806
	765	Telecom Italia Capital S.A., (Luxembourg), 6.999%, 06/04/18		846
		Telefonica Emisiones S.A.U., (Spain),
	252	3.192%, 04/27/18		257
	316	5.462%, 02/16/21		335
	515	5.877%, 07/15/19		582
	300	6.421%, 06/20/16		335
		Verizon Communications, Inc.,
	418	2.500%, 09/15/16		434
	1,762	4.500%, 09/15/20		1,892
	650	5.500%, 04/01/17		732
	443	5.550%, 02/15/16		487
	100	5.850%, 09/15/35		104
	1,795	6.400%, 09/15/33		2,004
	175	6.400%, 02/15/38		194
	1,250	7.350%, 04/01/39		1,538
	1,475	7.750%, 12/01/30		1,847
	500	Verizon New England, Inc., 7.875%, 11/15/29		592
		Verizon Pennsylvania LLC,
	750	6.000%, 12/01/28		758
	1,444	8.350%, 12/15/30		1,740
	500	8.750%, 08/15/31		626
				39,991
		Wireless Telecommunication Services — 0.2%
		America Movil S.A.B. de C.V., (Mexico),
	640	2.375%, 09/08/16		658
	592	3.125%, 07/16/22		552
	485	Crown Castle Towers LLC, 3.214%, 08/15/15 (e)		496
		Rogers Communications, Inc., (Canada),
	1,547	4.100%, 10/01/23		1,565
	400	8.750%, 05/01/32		521
		Vodafone Group plc, (United Kingdom),
	350	1.500%, 02/19/18		344
	1,200	1.625%, 03/20/17		1,205
	1,145	5.000%, 09/15/15		1,228
				6,569
		Total Telecommunication Services		46,560
		Utilities — 1.5%
		Electric Utilities — 1.0%
	229	Alabama Power Co., 6.125%, 05/15/38		266
	286	American Electric Power Co., Inc., 1.650%, 12/15/17		284
		Arizona Public Service Co.,
	296	4.500%, 04/01/42		283
	467	5.050%, 09/01/41		480
	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		1,224
	831	Comision Federal de Electricidad, (Mexico), 4.875%, 05/26/21 (e)		854
	185	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		215
	224	DTE Electric Co., 2.650%, 06/15/22		212
		Duke Energy Carolinas LLC,
	129	4.250%, 12/15/41		121
	660	5.100%, 04/15/18		754
	100	6.000%, 01/15/38		118
		Duke Energy Florida, Inc.,
	290	5.650%, 06/15/18		337
	240	6.400%, 06/15/38		300
	1,310	Duke Energy Indiana, Inc., 6.350%, 08/15/38		1,626
		Duke Energy Progress, Inc.,
	525	2.800%, 05/15/22		502
	273	4.100%, 05/15/42		251
	125	4.100%, 03/15/43		115
	310	5.300%, 01/15/19		358
	950	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		1,028
		Florida Power & Light Co.,
	420	5.950%, 10/01/33		503
	335	5.950%, 02/01/38		400
	210	Georgia Power Co., 5.950%, 02/01/39		236

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Electric Utilities — Continued
	229	Great Plains Energy, Inc., 4.850%, 06/01/21		242
		Hydro-Quebec, (Canada),
	350	8.050%, 07/07/24		473
	1,000	8.400%, 01/15/22		1,332
	100	Indiana Michigan Power Co., 7.000%, 03/15/19		120
	100	Jersey Central Power & Light Co., 7.350%, 02/01/19		120
	769	John Sevier Combined Cycle Generation LLC, 4.626%, 01/15/42		762
		Kansas City Power & Light Co.,
	403	3.150%, 03/15/23		377
	1,400	5.300%, 10/01/41		1,422
	105	MidAmerican Energy Co., 5.300%, 03/15/18		120
		Nevada Power Co.,
	55	5.375%, 09/15/40		59
	305	5.450%, 05/15/41		334
	720	6.500%, 08/01/18		864
	100	Series N, 6.650%, 04/01/36		123
		NextEra Energy Capital Holdings, Inc.,
	196	1.200%, 06/01/15		197
	725	6.000%, 03/01/19		836
	280	7.875%, 12/15/15		319
	300	Niagara Mohawk Power Corp., 4.881%, 08/15/19 (e)		335
	510	Northern States Power Co., 6.250%, 06/01/36		622
	310	Ohio Power Co., 6.050%, 05/01/18		358
		Oncor Electric Delivery Co. LLC,
	840	6.800%, 09/01/18		1,002
	110	7.000%, 09/01/22		133
		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		199
	390	4.500%, 12/15/41		359
	780	5.625%, 11/30/17		893
	100	6.050%, 03/01/34		113
	160	8.250%, 10/15/18		204
		PacifiCorp,
	180	5.500%, 01/15/19		210
	150	5.650%, 07/15/18		174
		Peco Energy Co.,
	350	2.375%, 09/15/22		320
	175	5.350%, 03/01/18		201
	1,070	Potomac Electric Power Co., 6.500%, 11/15/37		1,352
		Progress Energy, Inc.,
	673	3.150%, 04/01/22		652
	300	6.050%, 03/15/14		304
		Public Service Co. of Colorado,
	250	2.250%, 09/15/22		228
	90	3.200%, 11/15/20		91
	125	5.800%, 08/01/18		147
	2,490	Public Service Co. of Oklahoma, Series G, 6.625%, 11/15/37		2,915
		Public Service Electric & Gas Co.,
	205	5.300%, 05/01/18		235
	277	5.375%, 11/01/39		307
		Southern California Edison Co.,
	318	Series C, 3.500%, 10/01/23		317
	175	4.150%, 09/15/14		180
	765	5.500%, 08/15/18		889
	200	5.950%, 02/01/38		235
	1,185	6.050%, 03/15/39		1,418
		Southern Co. (The),
	363	1.950%, 09/01/16		371
	270	4.150%, 05/15/14		275
	570	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		736
	312	State Grid Overseas Investment Ltd., (United Kingdom), 1.750%, 05/22/18 (e)		307
		Virginia Electric and Power Co.,
	1,395	5.400%, 04/30/18		1,605

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Electric Utilities — Continued
	625	5.950%, 09/15/17		727
		Wisconsin Electric Power Co.,
	21	2.950%, 09/15/21		21
	450	6.000%, 04/01/14		458
	265	6.250%, 12/01/15		294
		Xcel Energy, Inc.,
	162	0.750%, 05/09/16		162
	92	4.800%, 09/15/41		89
	200	6.500%, 07/01/36		239
				39,003
		Gas Utilities — 0.1%
		Atmos Energy Corp.,
	828	4.150%, 01/15/43		749
	285	8.500%, 03/15/19		370
	308	Boston Gas Co., 4.487%, 02/15/42 (e)		295
	335	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		389
				1,803
		Independent Power Producers & Energy Traders — 0.1%
		Exelon Generation Co. LLC,
	1,020	4.000%, 10/01/20		1,020
	235	5.750%, 10/01/41		226
	8	Kiowa Power Partners LLC, 4.811%, 12/30/13 (e)		8
	1,500	PPL Energy Supply LLC, 4.600%, 12/15/21		1,457
		PSEG Power LLC,
	442	4.300%, 11/15/23		442
	772	5.125%, 04/15/20		845
	202	Southern Power Co., 5.150%, 09/15/41		199
				4,197
		Multi-Utilities — 0.3%
		AGL Capital Corp.,
	563	3.500%, 09/15/21		568
	208	4.400%, 06/01/43		190
	1,445	5.875%, 03/15/41		1,615
	1,243	6.375%, 07/15/16		1,398
	596	Consolidated Edison Co. of New York, Inc., 5.700%, 06/15/40		683
		Consumers Energy Co.,
	216	2.850%, 05/15/22		207
	130	5.650%, 04/15/20		151
	235	Delmarva Power & Light Co., 4.000%, 06/01/42		212
		Dominion Resources, Inc.,
	920	Series F, 5.250%, 08/01/33		983
	300	7.000%, 06/15/38		376
	600	8.875%, 01/15/19		777
	289	DTE Energy Co., 3.850%, 12/01/23		288
		Nisource Finance Corp.,
	370	3.850%, 02/15/23		357
	360	4.450%, 12/01/21		370
	1,256	5.800%, 02/01/42		1,263
		San Diego Gas & Electric Co.,
	379	3.950%, 11/15/41		347
	275	6.000%, 06/01/26		333
		Sempra Energy,
	350	2.875%, 10/01/22		324
	958	4.050%, 12/01/23		959
	1,145	6.150%, 06/15/18		1,337
	180	6.500%, 06/01/16		204
	435	9.800%, 02/15/19		583
				13,525
		Total Utilities		58,528
		Total Corporate Bonds (Cost $680,313)		711,670
	Foreign Government Securities — 1.1%
	825	Brazilian Government International Bond, (Brazil), 4.250%, 01/07/25		777
		Israel Government AID Bond, (Israel),
	1,973	Zero Coupon, 08/15/17		1,885
	20,000	Zero Coupon, 03/15/18		18,789
	1,776	Zero Coupon, 02/15/22		1,388
	1,500	Zero Coupon, 11/01/23		1,063

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Foreign Government Securities — Continued
	1,500		Zero Coupon, 11/01/24		1,006
	1,000		5.500%, 09/18/33		1,183
			Province of Ontario, (Canada),
	1,387		1.650%, 09/27/19		1,352
	700		2.700%, 06/16/15		725
	2,220		2.950%, 02/05/15		2,289
	377		Province of Quebec, (Canada), Series A, SUB, 7.365%, 03/06/26		497
	640		Republic of South Africa, (South Africa), 5.875%, 09/16/25		666
	5,000		Tunisia Government AID Bond, (Tunisia), 1.686%, 07/16/19		4,892
			United Mexican States, (Mexico),
	1,732		4.000%, 10/02/23		1,716
	120		4.750%, 03/08/44		105
	3,338		Series A, 7.500%, 04/08/33		4,181
			Total Foreign Government Securities (Cost $42,011)		42,514
	Mortgage Pass-Through Securities — 14.6%
			Federal Home Loan Mortgage Corp.,
	36		ARM, 2.085%, 07/01/19		38
	479		ARM, 2.120%, 10/01/36		507
	122		ARM, 2.220%, 10/01/36		129
	37		ARM, 2.321%, 04/01/30		40
	1,028		ARM, 2.325%, 03/01/37		1,102
	561		ARM, 2.355%, 12/01/33		584
	133		ARM, 2.375%, 05/01/36		142
	432		ARM, 2.391%, 11/01/36		458
	560		ARM, 2.418%, 11/01/36		596
	368		ARM, 2.522%, 12/01/36		395
	290		ARM, 2.541%, 02/01/36		309
	1,021		ARM, 2.548%, 04/01/34		1,079
	427		ARM, 2.693%, 12/01/34		453
	188		ARM, 2.755%, 02/01/37		200
	637		ARM, 2.789%, 10/01/36		679
	2,152		ARM, 4.006%, 07/01/40		2,272
	605		ARM, 4.101%, 02/01/36		646
	434		ARM, 4.848%, 07/01/36		468
	621		ARM, 5.040%, 01/01/35		662
			Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	–	(h)	4.000%, 05/01/19		—	(h)
	130		4.500%, 08/01/18		137
	365		5.000%, 12/01/18		388
	3,071		5.500%, 06/01/17 - 01/01/24		3,348
	54		6.000%, 04/01/18		58
	466		6.500%, 08/01/16 - 02/01/19		497
	11		7.000%, 04/01/17		11
	–	(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,
	2,907		3.500%, 01/01/32 - 03/01/32		2,990
	116		6.000%, 12/01/22		128
	344		6.500%, 11/01/22		382
			Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	4,648		3.500%, 04/01/43		4,682
	1,277		4.000%, 09/01/35		1,333
	6,087		4.500%, 05/01/41		6,490
	5,519		5.000%, 09/01/34 - 08/01/40		5,999
	2,288		5.500%, 10/01/33 - 07/01/35		2,498
	393		6.000%, 12/01/33 - 01/01/34		438
	2,371		6.500%, 11/01/34 - 11/01/36		2,680
	611		7.000%, 07/01/32 - 10/01/36		664
	789		Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		920
			Federal Home Loan Mortgage Corp. Gold Pools, Other,
	3,020		3.000%, 03/01/33		2,969
	25,084		3.500%, 10/01/32 - 06/01/43		25,381
	10,173		4.000%, 01/01/32 - 01/01/43		10,548
	485		5.500%, 10/01/33 - 01/01/34		520
	828		6.000%, 02/01/33		908

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
	90	7.000%, 07/01/29		102
	2	Federal Home Loan Mortgage Corp., 30 Year, Single Family, 12.000%, 08/01/15 - 07/01/19		2
	2,557	Federal Home Loan Mortgage Corp., Multifamily Structured Pass-Through Certificates, Series K029, Class A2, VAR, 3.320%, 02/25/23		2,580
		Federal National Mortgage Association,
	126	ARM, 1.688%, 09/01/34		131
	1,029	ARM, 1.784%, 01/01/33		1,080
	759	ARM, 1.788%, 07/01/33		817
	1,830	ARM, 1.898%, 01/01/35		1,940
	11	ARM, 1.903%, 03/01/19		11
	1,454	ARM, 1.910%, 09/01/35		1,525
	530	ARM, 1.912%, 11/01/34		562
	642	ARM, 1.940%, 07/01/36		683
	1,330	ARM, 2.120%, 01/01/35 - 05/01/35		1,408
	333	ARM, 2.141%, 01/01/36		352
	1,027	ARM, 2.160%, 11/01/34		1,082
	226	ARM, 2.170%, 07/01/34		239
	802	ARM, 2.192%, 10/01/34		845
	327	ARM, 2.202%, 04/01/34		344
	548	ARM, 2.204%, 10/01/34		577
	215	ARM, 2.223%, 09/01/35		228
	1,098	ARM, 2.239%, 06/01/35		1,159
	6	ARM, 2.250%, 01/01/19		7
	20	ARM, 2.262%, 04/01/34		22
	358	ARM, 2.266%, 08/01/34		384
	313	ARM, 2.274%, 09/01/34		330
	323	ARM, 2.277%, 07/01/33 - 11/01/33		338
	681	ARM, 2.280%, 08/01/34		722
	788	ARM, 2.324%, 07/01/33		837
	609	ARM, 2.346%, 05/01/34		648
	1,863	ARM, 2.363%, 04/01/35		1,970
	457	ARM, 2.372%, 04/01/35		486
	218	ARM, 2.397%, 05/01/35		229
	228	ARM, 2.403%, 01/01/34		241
	261	ARM, 2.420%, 02/01/35		278
	335	ARM, 2.505%, 10/01/34		356
	266	ARM, 2.517%, 06/01/36		282
	523	ARM, 2.560%, 09/01/33		553
	289	ARM, 2.677%, 01/01/38		307
	662	ARM, 2.700%, 10/01/36		708
	79	ARM, 2.819%, 09/01/27		84
	196	ARM, 3.000%, 02/01/34		208
	74	ARM, 3.125%, 01/01/36		78
	63	ARM, 3.771%, 03/01/29		67
	103	ARM, 4.480%, 01/01/23		113
		Federal National Mortgage Association, 15 Year, Single Family,
	892	3.500%, 09/01/18 - 07/01/19		940
	1,577	4.000%, 07/01/18 - 10/01/18		1,678
	2,732	4.500%, 06/01/18 - 12/01/19		2,939
	929	5.000%, 06/01/18 - 08/01/24		999
	951	5.500%, 03/01/20 - 07/01/20		1,013
	5,429	6.000%, 06/01/16 - 01/01/24		5,917
	226	6.500%, 03/01/17 - 08/01/20		242
	220	7.000%, 03/01/17 - 09/01/17		233
	5	7.500%, 03/01/17		5
	2	8.000%, 11/01/15		2
		Federal National Mortgage Association, 20 Year, Single Family,
	1,687	3.500%, 08/01/32		1,736
	141	4.500%, 04/01/24		150
	1,263	6.500%, 05/01/22 - 04/01/25		1,402
		Federal National Mortgage Association, 30 Year, FHA/VA,
	95	6.000%, 09/01/33		106
	1,422	6.500%, 03/01/29 - 08/01/39		1,586
	35	7.000%, 02/01/33		41

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
	52	8.000%, 06/01/28		60
	19	9.000%, 05/01/18 - 12/01/25		20
		Federal National Mortgage Association, 30 Year, Single Family,
	436	4.500%, 11/01/33 - 02/01/35		466
	1,518	5.000%, 07/01/33 - 09/01/35		1,664
	2,109	5.500%, 09/01/31 - 03/01/34		2,332
	2,805	6.000%, 12/01/28 - 09/01/37		3,123
	1,311	6.500%, 11/01/29 - 08/01/31		1,485
	1,177	7.000%, 01/01/24 - 01/01/39		1,304
	621	7.500%, 08/01/36 - 11/01/37		706
	641	8.000%, 03/01/27 - 11/01/28		748
	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,
	1,475	VAR, 0.539%, 01/01/23		1,483
	5,949	VAR, 0.569%, 10/01/22 - 01/01/23		5,965
	5,000	VAR, 0.640%, 11/01/23		5,009
	3,000	VAR, 0.664%, 11/01/23		3,010
	967	VAR, 0.979%, 03/01/22		971
	2,429	VAR, 6.070%, 11/01/18		2,648
	10,000	Zero Coupon, 12/30/23		9,994
	2,000	1.690%, 12/01/19		1,932
	3,450	1.792%, 05/01/20		3,344
	3,971	1.808%, 06/01/20		3,842
	2,000	2.004%, 07/01/19		2,024
	1,500	2.066%, 12/01/20		1,431
	12,000	2.077%, 06/01/20		11,853
	4,569	2.097%, 08/01/19		4,545
	2,500	2.190%, 09/01/21		2,357
	2,000	2.211%, 04/01/19		2,024
	1,480	2.221%, 04/01/19		1,492
	2,950	2.263%, 12/01/22		2,772
	4,028	2.283%, 12/01/22		3,789
	5,360	2.390%, 12/01/22		5,108
	5,457	2.418%, 12/01/22		5,174
	1,982	2.428%, 05/01/23		1,869
	3,375	2.449%, 11/01/22		3,218
	3,000	2.459%, 12/01/22		2,859
	3,500	2.480%, 12/01/22		3,338
	5,699	2.490%, 10/01/17		5,946
	2,979	2.500%, 06/01/23		2,816
	4,000	2.531%, 11/01/22		3,797
	2,952	2.542%, 02/01/23		2,827
	1,489	2.593%, 06/01/23		1,418
	6,996	2.604%, 10/01/22 - 05/01/23		6,621
	3,000	2.670%, 07/01/22		2,890
	6,870	2.690%, 10/01/17		7,204
	3,406	2.703%, 04/01/23		3,296
	5,004	2.809%, 07/01/23		4,877
	3,258	2.841%, 03/01/22		3,233
	1,565	2.862%, 05/01/22		1,548
	3,796	2.970%, 11/01/18		3,979
	2,914	3.000%, 01/01/43		2,778
	1,463	3.038%, 05/01/22		1,461
	7,085	3.070%, 01/01/22		7,162
	4,500	3.079%, 07/01/22		4,496
	4,500	3.100%, 02/01/22		4,524
	2,767	3.160%, 02/01/22		2,809
	3,855	3.224%, 01/01/22 - 05/01/22		3,901
	9,840	3.230%, 11/01/20		10,197
	1,485	3.255%, 12/01/21		1,514
	1,997	3.290%, 10/01/20		2,078
	3,934	3.306%, 02/01/22		3,989
	2,233	3.368%, 01/01/22		2,283
	1,986	3.461%, 11/01/20		2,070

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
	957	3.487%, 11/01/20		999
	47,864	3.500%, 12/01/32 - 08/01/43		47,882
	2,000	3.503%, 08/01/17		2,131
	1,948	3.520%, 01/01/18		2,090
	1,461	3.544%, 09/01/20		1,532
	2,500	3.590%, 08/01/23		2,533
	2,871	3.600%, 09/01/20		3,035
	7,499	3.621%, 09/01/20		7,897
	4,906	3.658%, 10/01/20		5,172
	1,500	3.690%, 11/01/23		1,544
	1,904	3.740%, 07/01/20		2,030
	3,000	3.760%, 10/01/23		3,111
	980	3.761%, 01/01/25		992
	5,000	3.792%, 07/01/23		5,123
	2,949	3.802%, 09/01/20		3,131
	4,585	3.853%, 07/01/22		4,833
	3,000	3.895%, 09/01/21		3,177
	2,905	3.906%, 09/01/21		3,070
	6,766	3.916%, 09/01/21		7,157
	1,964	3.930%, 07/01/20		2,115
	4,732	3.947%, 06/01/17		5,090
	4,750	3.980%, 11/01/16		4,881
	1,540	3.999%, 01/01/21		1,646
	9,965	4.000%, 10/01/32 - 07/01/42		10,323
	5,000	4.019%, 09/01/21		5,319
	2,000	4.061%, 01/01/21		2,145
	7,956	4.081%, 07/01/20 - 07/01/21		8,518
	1,429	4.130%, 07/01/20		1,552
	2,380	4.250%, 04/01/21		2,578
	1,673	4.257%, 04/01/20		1,819
	4,455	4.267%, 11/01/19 - 08/01/21		4,828
	2,096	4.290%, 06/01/20		2,295
	1,455	4.317%, 07/01/21		1,619
	1,472	4.350%, 04/01/20		1,619
	956	4.368%, 04/01/20		1,052
	1,446	4.380%, 01/01/21		1,584
	1,890	4.381%, 11/01/19		2,099
	2,000	4.390%, 05/01/21		2,187
	2,000	4.391%, 04/01/21		2,166
	2,000	4.402%, 07/01/21		2,170
	2,424	4.443%, 08/01/20 - 04/01/21		2,673
	1,447	4.445%, 01/01/21		1,590
	2,130	4.474%, 04/01/21		2,322
	5,000	4.484%, 06/01/21		5,439
	933	4.500%, 03/01/20		1,026
	1,960	4.515%, 02/01/20		2,159
	6,694	4.530%, 12/01/19		7,431
	4,276	4.540%, 01/01/20		4,747
	2,000	4.546%, 02/01/20		2,200
	2,902	4.629%, 02/01/21		3,192
	3,877	4.794%, 01/01/21		4,298
	1,899	5.414%, 07/01/19		2,106
	518	5.500%, 03/01/17 - 09/01/33		556
	1,483	6.000%, 09/01/37 - 06/01/39		1,612
	434	6.500%, 01/01/36 - 07/01/36		482
	84	7.000%, 10/01/46		92
	69	10.603%, 04/15/19		76
		Government National Mortgage Association II, 30 Year, Single Family,
	350	4.500%, 08/20/33		381
	4,147	6.000%, 09/20/38		4,659
	67	7.500%, 02/20/28 - 09/20/28		79
	109	8.000%, 12/20/25 - 09/20/28		130
	33	8.500%, 05/20/25		38
		Government National Mortgage Association II, Other,
	10,162	4.375%, 06/20/63		11,118
	10,555	4.433%, 05/20/63		11,465

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
	3,050	4.462%, 05/20/63		3,302
	2,041	4.479%, 04/20/63		2,241
		Government National Mortgage Association, 15 Year, Single Family,
	62	6.500%, 06/15/17		66
	50	8.000%, 01/15/16		51
		Government National Mortgage Association, 30 Year, Single Family,
	345	6.500%, 03/15/28 - 04/15/33		385
	221	7.000%, 02/15/33 - 06/15/33		255
	84	7.500%, 11/15/22 - 11/15/31		92
	18	8.000%, 09/15/22 - 08/15/28		19
	3	9.000%, 12/15/16		3
	752	9.500%, 10/15/24		853
		Total Mortgage Pass-Through Securities (Cost $581,629)		584,508
	Municipal Bonds — 0.2% (t)
		California — 0.0% (g)
	440	Los Angeles City Department of Airports, International Airport, Series C, Rev., 6.582%, 05/15/39		516
	350	State of California, Various Purpose, GO, 7.300%, 10/01/39		456
				972
		Illinois — 0.0% (g)
	160	State of Illinois, Taxable Pension, GO, 5.100%, 06/01/33		147
		New York — 0.1%
	360	New York State Dormitory Authority, State Personal Income Tax, Series D, Rev., 5.600%, 03/15/40		398
	1,825	Port Authority of New York & New Jersey, Consolidated 164, Rev., 5.647%, 11/01/40		2,022
	2,500	Port Authority of New York & New Jersey, Consolidated 174, Rev., 4.458%, 10/01/62		2,211
				4,631
		Ohio — 0.1%
	1,315	American Municipal Power, Inc., Meldahl Hydroelectric Project, Series B, Rev., 7.499%, 02/15/50		1,618
	1,563	Ohio State University, General Receipts, Series A, Rev., 4.800%, 06/01/11		1,358
				2,976
		Total Municipal Bonds (Cost $8,737)		8,726
	Supranational — 0.1%
	3,000	African Development Bank, 8.800%, 09/01/19		3,989
	641	Corp. Andina de Fomento, 3.750%, 01/15/16		669
		Total Supranational (Cost $4,544)		4,658
	U.S. Government Agency Securities — 2.2%
	646	Federal Farm Credit Bank, 5.125%, 11/15/18		749
	1,525	Federal Home Loan Bank, 5.500%, 07/15/36		1,813
	6,000	Federal National Mortgage Association, Zero Coupon, 06/01/17		5,720
		Financing Corp. Fico,
	4,500	Zero Coupon, 05/11/18		4,200
	2,000	Zero Coupon, 04/05/19		1,802
	1,240	Zero Coupon, 09/26/19		1,096
		Government Trust Certificate,
	4,000	Zero Coupon, 10/01/15		3,915
	5,000	Zero Coupon, 04/01/16		4,855
	13,319	Zero Coupon, 10/01/19		11,407
		Residual Funding Corp. STRIPS,
	7,300	10/15/19		6,440
	30,450	07/15/20		25,894
	12,930	10/15/20		10,853
		Tennessee Valley Authority,
	304	4.625%, 09/15/60		278
	3,500	5.250%, 09/15/39		3,792
	1,115	5.880%, 04/01/36		1,314
		Tennessee Valley Authority STRIPS,
	2,000	05/01/19		1,768
	5,000	11/01/25		3,068
	800	06/15/35		284
		Total U.S. Government Agency Securities (Cost $90,906)		89,248

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Treasury Obligations — 25.0%
		U.S. Treasury Bonds,
	3,000	4.375%, 02/15/38		3,342
	7,575	4.500%, 02/15/36		8,609
	1,200	4.500%, 05/15/38		1,362
	300	4.500%, 08/15/39		341
	1,500	4.750%, 02/15/37		1,764
	14,115	5.000%, 05/15/37		17,165
	850	5.250%, 02/15/29		1,046
	1,250	5.375%, 02/15/31		1,568
	750	6.125%, 11/15/27		998
	300	6.125%, 08/15/29		403
	2,296	6.250%, 08/15/23		3,012
	900	6.250%, 05/15/30		1,229
	400	6.625%, 02/15/27		552
	4,690	7.500%, 11/15/16		5,641
	1,881	7.875%, 02/15/21		2,614
	864	8.125%, 05/15/21		1,222
	2,225	8.500%, 02/15/20		3,111
	1,500	8.750%, 05/15/20		2,136
	6,675	8.750%, 08/15/20		9,561
	22,765	8.875%, 08/15/17		29,417
		U.S. Treasury Bonds STRIPS,
	4,400	02/15/14 (m)		4,399
	5,665	08/15/14 (m)		5,659
	19,538	11/15/14 (m)		19,506
	17,230	02/15/15 (m)		17,189
	16,180	02/15/15		16,143
	3,595	05/15/15		3,582
	2,049	08/15/15		2,040
	5,445	11/15/15		5,415
	28,397	11/15/15		28,241
	51,751	02/15/16		51,351
	1,000	05/15/16		991
	19,751	08/15/16		19,494
	15,857	11/15/16		15,586
	20,629	02/15/17		20,164
	21,411	08/15/17		20,688
	20,589	11/15/17		19,766
	2,000	02/15/18		1,907
	8,400	05/15/18		7,954
	16,241	08/15/18		15,262
	6,982	02/15/19		6,459
	10,595	05/15/19		9,704
	22,360	08/15/19		20,277
	2,435	02/15/20		2,164
	48,814	05/15/20 (m)		42,952
	250	05/15/20		220
	37,935	08/15/20 (m)		33,003
	20,115	02/15/21		17,082
	17,000	05/15/21		14,273
	4,300	08/15/21		3,567
	15,025	11/15/21		12,329
	6,778	02/15/22		5,498
	5,487	02/15/23		4,236
	1,000	05/15/23		763
	200	05/15/24		146
	600	08/15/24		431
	1,400	11/15/24		992
	1,000	02/15/25		698
	1,000	02/15/26		664
	1,500	05/15/26		984
	1,592	08/15/26		1,032
	28,150	11/15/26		18,011
	28,300	02/15/27		17,884
	3,550	05/15/27		2,215
	6,675	08/15/27		4,117
	8,300	11/15/27		5,055

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Treasury Obligations — Continued
	8,860	02/15/28		5,331
	5,600	05/15/28		3,330
	3,000	08/15/28		1,762
	2,500	11/15/28		1,451
	3,925	02/15/29		2,250
	1,600	08/15/29		895
	1,650	11/15/29		912
	22,100	02/15/30		12,074
	5,900	05/15/30		3,186
	8,200	08/15/30		4,376
	7,425	11/15/30		3,919
	6,100	02/15/31		3,181
	3,000	05/15/31		1,547
	4,500	08/15/31		2,295
	4,000	11/15/31		2,017
	1,550	02/15/32		772
	3,500	05/15/32		1,725
	350	08/15/32		171
	6,140	11/15/32		2,958
	2,500	02/15/33		1,191
	11,150	05/15/33		5,254
	3,050	08/15/33		1,422
	4,500	11/15/33		2,073
	4,000	02/15/34		1,823
	2,800	05/15/34		1,262
	1,650	08/15/34		736
	2,850	02/15/35		1,243
	800	05/15/35		345
	100	08/15/35		43
		U.S. Treasury Inflation Indexed Bonds,
	300	2.500%, 01/15/29		393
	799	3.625%, 04/15/28 (m)		1,561
		U.S. Treasury Inflation Indexed Notes,
	1,000	0.500%, 04/15/15		1,100
	1,000	1.125%, 01/15/21		1,145
	1,000	1.250%, 04/15/14		1,110
	630	1.375%, 07/15/18		751
	2,000	2.000%, 01/15/14		2,534
		U.S. Treasury Notes,
	8,000	0.750%, 12/31/17		7,912
	3,560	0.875%, 01/31/18		3,534
	4,510	1.000%, 11/30/19		4,311
	11,635	1.375%, 11/30/18		11,650
	4,900	1.500%, 08/31/18		4,951
	1,000	1.750%, 01/31/14		1,003
	31,000	1.750%, 10/31/18 (m)		31,635
	1,000	1.875%, 02/28/14		1,004
	2,000	1.875%, 04/30/14		2,014
	10,000	2.000%, 02/15/22		9,700
	12,245	2.125%, 12/31/15		12,708
	7,000	2.125%, 08/31/20		7,048
	36,000	2.125%, 08/15/21		35,632
	10,000	2.250%, 07/31/18		10,460
	21,972	2.625%, 12/31/14		22,554
	1,000	2.625%, 02/29/16		1,051
	4,575	2.625%, 04/30/16		4,822
	9,300	2.625%, 01/31/18		9,897
	700	2.625%, 08/15/20		729
	2,300	2.625%, 11/15/20		2,386
	16,985	2.750%, 05/31/17		18,149
	7,500	2.750%, 12/31/17		8,022
	8,000	3.125%, 10/31/16		8,592
	6,015	3.125%, 04/30/17		6,496
	11,638	3.125%, 05/15/19		12,616
	8,900	3.125%, 05/15/21		9,479
	15,700	3.250%, 12/31/16		16,965
	12,300	3.250%, 03/31/17		13,323

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Treasury Obligations — Continued
	2,600	3.500%, 02/15/18		2,859
	1,000	3.500%, 05/15/20		1,100
	9,500	3.625%, 02/15/21		10,471
	5,000	3.750%, 11/15/18		5,578
	10,000	4.000%, 02/15/15		10,456
	3,725	4.500%, 11/15/15		4,031
	10,375	4.750%, 08/15/17		11,846
		Total U.S. Treasury Obligations (Cost $958,601)		998,308
	Loan Assignments — 0.2%
		Financials — 0.2%
		Capital Markets — 0.0% (g)
	1,609	Tricon Capital Group Inc., Revolving Loan, (Canada) VAR, 4.100%, 06/13/15 (i)		1,601
		Diversified Financial Services — 0.0% (g)
	1,393	Fiveten Group Holdings Ltd., Revolving Loan, VAR, 4.250%, 04/14/14 (i)		1,386
		Real Estate Management & Development — 0.2%
	5,837	Invitation Homes, Revolving Loan, VAR, 3.750%, 03/15/15 (i)		5,808
		Total Loan Assignments (Cost $8,839)		8,795
SHARES
	Short-Term Investment — 4.9%
		Investment Company — 4.9%
	197,117	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.030% (b) (l) (Cost $197,117)		197,117
		Total Investments — 99.8% (Cost $3,858,998)		3,995,574
		Other Assets in Excess of Liabilities — 0.2%		6,023
		NET ASSETS — 100.0%	$	4,001,597

Percentages indicated are based on net assets.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

ARM	—	Adjustable Rate Mortgage.
CDO	—	Collateralized Debt Obligation
CMBS	—	Commercial Mortgage Backed Security
CMO	—	Collateralized Mortgage Obligation.
ESOP	—	Employee Stock Ownership Program.
FHA	—	Federal Housing Administration
GMAC	—	General Motors Acceptance Corp.
GO	—	General Obligation.
HB	—	High Coupon Bonds (a.k.a. “IOettes”) represent the right to receive interest payments on an underlying pool of mortgages with similar features as those associated with IO securities. Unlike IO’s the owner also has a right to receive a very small portion of principal. The high interest rates result from taking interest payments from other classes in the Real Estate Mortgage Investment Conduit (REMIC) 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 principal shown is the rate in effect as of November 30, 2013. The rate may be subject to a cap and floor.
IO	—	Interest only represents the right to receive the monthly interest payment on an underlying pool of mortgage loans. The face amount shown represents the par value on the underlying pool. The yields on these securities exceed yields on other mortgage-backed securities because their cash flow patterns are more volatile and there is greater risk that the initial investment will not be fully recouped. 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 Bond
STRIPS	—	Separate Trading of Registered Interest and Principal Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.
SUB	—	Step-Up Bond. The interest rate shown is the rate in effect as of November 30, 2013.
VA	—	Veterans Administration
VAR	—	Variable Rate Note. The interest rate shown is the rate in effect as of November 30, 2013.
(b)	—	Investment in affiliate. Money market fund registered under the Investment Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc.
(e)	—	Security is a 144A or private placement security and can only be sold to qualified institutional buyers. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Trustee.
(g)	—	Amount rounds to less than 0.1%
(h)	—	Amount rounds to less than one thousand.
(i)	—	Security has been deemed illiquid pursuant to procedures approved by the Board of Trustees and may be difficult to sell.
(l)	—	The rate shown is the current yield as of November 30, 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.
(t)	—	The date shown represents the earliest of the next reset date, next call date, prerefunded date, next put date or final maturity date.
(†)	—	Security matures in 2111.
(††)	—	Security matures in 2110.

As of November 30, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	179,919
Aggregate gross unrealized depreciation		(43,343	)
Net unrealized appreciation/depreciation	$	136,576
Federal income tax cost of investments	$	3,858,998

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

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 “Adviser” 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 appropriateness of Fair Values is assessed based on results of unchanged price review and consideration of macro or security specific events, back testing and broker and vendor due diligence. Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market and/or issuer related events after the report date and prior to issuance of the report, are not reflected herein.

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

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

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

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in 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.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

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

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	137,428	$	76,358	$	213,786
Collateralized Mortgage Obligations
Agency CMO		—		662,611		6,105		668,716
Non-Agency CMO		—		268,487		52,712		321,199
Total Collateralized Mortgage Obligations		—		931,098		58,817		989,915
Commercial Mortgage-Backed
Securities		—		125,633		20,696		146,329
Corporate Bonds
Consumer Discretionary		—		47,385		—		47,385
Consumer Staples		—		34,720		—		34,720
Energy		—		59,017		—		59,017
Financials		—		343,889		—		343,889
Health Care		—		20,594		—		20,594
Industrials		—		39,371		2,849		42,220
Information Technology		—		37,519		—		37,519
Materials		—		21,238		—		21,238
Telecommunication Services		—		46,560		—		46,560
Utilities		—		58,528		—		58,528
Total Corporate Bonds		—		708,821		2,849		711,670
Foreign Government Securities		—		42,514		—		42,514
Mortgage Pass-Through Securities		—		584,508		—		584,508
Municipal Bonds		—		8,726		—		8,726
Supranational		—		4,658		—		4,658
U.S. Government Agency Securities		—		89,248		—		89,248
U.S. Treasury Obligations		—		998,308		—		998,308
Loan Assignments
Financials		—		—		8,795		8,795
Short-Term Investment
Investment Company		197,117		—		—		197,117
Total Investments in Securities	$	197,117	$	3,630,942	$	167,515	$	3,995,574

There were no transfers between Levels 1 and 2 during the period ended November 30, 2013.

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

JPMorgan Core Bond Trust	Balance as of 02/28/13		Realized gain (loss)			Change in unrealized appreciation (depreciation)			Net amortization (accretion)			Purchases1		Sales2			Transfers into Level 3		Transfers out of Level 3			Balance as of 11/30/13
Investments in Securities
Asset-Backed Securities	$	60,762	$	—		$	(43	)	$	28		$	40,357	$	(32,698	)	$	7,952	$	—		$	76,358
Collateralized Mortgage Obligations
Agency CMO		27,817		(187	)		(757	)		(1,111	)		96		(7	)		2,027		(21,773	)		6,105
Non-Agency CMO		48,208		(2	)		(3,846	)		(2,789	)		21,782		(15,906	)		26,429		(21,164	)		52,712
Commercial Mortgage-Backed Securities		30,371		—			55			(969	)		2,734		(7,806	)		—		(3,689	)		20,696
Corporate Bonds																							—
Industrials		3,316		41			(94	)		(2	)		441		(853	)		—		—			2,849
Telecommunication Services		1,884		—			—			—			—		—			—		(1,884	)		—
Loan Assignment — Financials		—		—			(59	)		—			9,983		(1,129	)		—		—			8,795
Mortgage Pass-Through Securities		11,987		—			(15	)		—			—		(11,972	)		—		—			—
Total	$	184,345	$	(148	)	$	(4,759	)	$	(4,843	)	$	75,393	$	(70,371	)	$	36,408	$	(48,510	)	$	167,515

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 a corporate action.

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

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

The changes in net unrealized appreciation (depreciation) attributable to securities owned at November 30, 2013, which were valued using significant unobservable inputs (Level 3) were $(4,759)

Core Bond Trust

Quantitative Information about Level 3 Fair Value Measurements #

(Amounts in thousands)

	Fair Value at 11/30/13		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
		68,298	Discounted Cash Flow	Constant Prepayment Rate	0% - 100.00%(13.71%)
				Constant Default Rate	0% - 14.78%(3.31%)
				PSA Prepayment Model	137.00% - 1,085.00%(461.02%)
				Yield (Discount Rate of Cash Flows)	(180.40%) - 64.15%(4.35%)
Asset-Backed Securities		68,298
Total		68,298

# The table above does not include level 3 securities that are valued by brokers and pricing services. At November 30, 2013, the value of these securities was approximately $99,217,000. The inputs for these securities are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A. The appropriateness of fair values for these securities is 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.

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited)

(Amounts in thousands)

SHARES			SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — 99.0%
	Consumer Discretionary — 12.5%
			Auto Components — 0.4%
	3		BorgWarner, Inc.		278
	6		Delphi Automotive plc, (United Kingdom)		375
	6		Goodyear Tire & Rubber Co. (The)		124
	16		Johnson Controls, Inc.		783
					1,560
			Automobiles — 0.7%
	89		Ford Motor Co.		1,525
	21		General Motors Co. (a)		826
	5		Harley-Davidson, Inc.		339
					2,690
			Distributors — 0.1%
	4		Genuine Parts Co.		291
			Diversified Consumer Services — 0.1%
	6		H&R Block, Inc.		173
			Hotels, Restaurants & Leisure — 1.8%
	10		Carnival Corp.		358
	1		Chipotle Mexican Grill, Inc. (a)		367
	3		Darden Restaurants, Inc.		158
	6		International Game Technology		104
	5		Marriott International, Inc., Class A		242
	23		McDonald’s Corp.		2,206
	17		Starbucks Corp.		1,387
	4		Starwood Hotels & Resorts Worldwide, Inc.		329
	3		Wyndham Worldwide Corp.		216
	2		Wynn Resorts Ltd.		304
	10		Yum! Brands, Inc.		786
					6,457
			Household Durables — 0.3%
	6		D.R. Horton, Inc.		128
	3		Garmin Ltd., (Switzerland)		135
	2		Harman International Industries, Inc.		125
	3		Leggett & Platt, Inc.		97
	4		Lennar Corp., Class A		135
	7		Newell Rubbermaid, Inc.		198
	8		PulteGroup, Inc.		149
	2		Whirlpool Corp.		275
					1,242
			Internet & Catalog Retail — 1.5%
	8		Amazon.com, Inc. (a)		3,301
	2		Expedia, Inc.		155
	1		Netflix, Inc. (a)		489
	1		priceline.com, Inc. (a)		1,392
	3		TripAdvisor, Inc. (a)		223
					5,560
			Leisure Equipment & Products — 0.1%
	3		Hasbro, Inc.		141
	8		Mattel, Inc.		361
					502
			Media — 3.6%
	5		Cablevision Systems Corp., Class A		81
	13		CBS Corp. (Non-Voting), Class B		746
	59		Comcast Corp., Class A		2,956
	12		DIRECTV (a)		765
	5		Discovery Communications, Inc., Class A (a)		457
	5		Gannett Co., Inc.		139
	–	(h)	Graham Holdings Co.		67
	10		Interpublic Group of Cos., Inc. (The)		166
	11		News Corp., Class A (a)		203
	6		Omnicom Group, Inc.		417
	2		Scripps Networks Interactive, Inc., Class A		185
	6		Time Warner Cable, Inc.		895
	21		Time Warner, Inc.		1,370
	45		Twenty-First Century Fox, Inc., Class A		1,508
	9		Viacom, Inc., Class B		737
	38		Walt Disney Co. (The)		2,656
					13,348
			Multiline Retail — 0.7%
	7		Dollar General Corp. (a)		384
	5		Dollar Tree, Inc. (a)		262
	2		Family Dollar Stores, Inc.		153
	5		Kohl’s Corp.		256
	9		Macy’s, Inc.		454
	3		Nordstrom, Inc.		203
	14		Target Corp.		915
					2,627
			Specialty Retail — 2.3%
	2		Abercrombie & Fitch Co., Class A		59
	1		AutoNation, Inc. (a)		72
	1		AutoZone, Inc. (a)		372
	5		Bed Bath & Beyond, Inc. (a)		385
	6		Best Buy Co., Inc.		248
	5		CarMax, Inc. (a)		255
	3		GameStop Corp., Class A		128
	6		Gap, Inc. (The)		256

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Specialty Retail — Continued
	32	Home Depot, Inc. (The)		2,619
	6	L Brands, Inc.		359
	24	Lowe’s Cos., Inc.		1,132
	2	O’Reilly Automotive, Inc. (a)		307
	2	PetSmart, Inc.		175
	5	Ross Stores, Inc.		375
	15	Staples, Inc.		233
	2	Tiffany & Co.		222
	16	TJX Cos., Inc.		1,019
	2	Urban Outfitters, Inc. (a)		96
				8,312
		Textiles, Apparel & Luxury Goods — 0.9%
	6	Coach, Inc.		370
	1	Fossil Group, Inc. (a)		145
	4	Michael Kors Holdings Ltd., (Hong Kong) (a)		330
	17	NIKE, Inc., Class B		1,341
	2	PVH Corp.		248
	1	Ralph Lauren Corp.		241
	2	V.F. Corp.		468
				3,143
		Total Consumer Discretionary		45,905
	Consumer Staples — 10.0%
		Beverages — 2.2%
	4	Beam, Inc.		248
	4	Brown-Forman Corp., Class B		276
	86	Coca-Cola Co. (The)		3,473
	6	Coca-Cola Enterprises, Inc.		236
	4	Constellation Brands, Inc., Class A (a)		265
	5	Dr. Pepper Snapple Group, Inc.		223
	4	Molson Coors Brewing Co., Class B		188
	3	Monster Beverage Corp. (a)		182
	35	PepsiCo, Inc.		2,952
				8,043
		Food & Staples Retailing — 2.4%
	10	Costco Wholesale Corp.		1,241
	28	CVS Caremark Corp.		1,864
	12	Kroger Co. (The)		490
	5	Safeway, Inc.		191
	13	Sysco Corp.		449
	20	Walgreen Co.		1,167
	37	Wal-Mart Stores, Inc.		2,989
	8	Whole Foods Market, Inc.		478
				8,869
		Food Products — 1.6%
	15	Archer-Daniels-Midland Co.		601
	4	Campbell Soup Co.		157
	10	ConAgra Foods, Inc.		316
	15	General Mills, Inc.		734
	3	Hershey Co. (The)		328
	3	Hormel Foods Corp.		137
	2	JM Smucker Co. (The)		248
	6	Kellogg Co.		354
	13	Kraft Foods Group, Inc.		717
	3	McCormick & Co., Inc. (Non-Voting)		206
	5	Mead Johnson Nutrition Co.		388
	40	Mondelez International, Inc., Class A		1,353
	6	Tyson Foods, Inc., Class A		200
				5,739
		Household Products — 2.1%
	3	Clorox Co. (The)		275
	20	Colgate-Palmolive Co.		1,314
	9	Kimberly-Clark Corp.		948
	62	Procter & Gamble Co. (The)		5,228
				7,765
		Personal Products — 0.2%
	10	Avon Products, Inc.		175
	6	Estee Lauder Cos., Inc. (The), Class A		435
				610
		Tobacco — 1.5%
	45	Altria Group, Inc.		1,680
	8	Lorillard, Inc.		435
	37	Philip Morris International, Inc.		3,138
	7	Reynolds American, Inc.		362
				5,615
		Total Consumer Staples		36,641
	Energy — 10.2%
		Energy Equipment & Services — 1.9%
	10	Baker Hughes, Inc.		572
	6	Cameron International Corp. (a)		309
	2	Diamond Offshore Drilling, Inc.		95
	5	Ensco plc, (United Kingdom), Class A		313
	5	FMC Technologies, Inc. (a)		258
	19	Halliburton Co.		1,010
	2	Helmerich & Payne, Inc.		186
	6	Nabors Industries Ltd., (Bermuda)		97
	10	National Oilwell Varco, Inc.		790
	6	Noble Corp. plc, (United Kingdom)		219
	3	Rowan Cos. plc, Class A (a)		97

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Energy Equipment & Services — Continued
	30	Schlumberger Ltd.		2,652
	8	Transocean Ltd., (Switzerland)		387
				6,985
		Oil, Gas & Consumable Fuels — 8.3%
	11	Anadarko Petroleum Corp.		1,012
	9	Apache Corp.		837
	10	Cabot Oil & Gas Corp.		329
	11	Chesapeake Energy Corp.		309
	44	Chevron Corp.		5,361
	28	ConocoPhillips		2,018
	5	CONSOL Energy, Inc.		185
	8	Denbury Resources, Inc. (a)		141
	9	Devon Energy Corp.		524
	6	EOG Resources, Inc.		1,019
	3	EQT Corp.		290
	100	Exxon Mobil Corp.		9,325
	7	Hess Corp.		530
	15	Kinder Morgan, Inc.		542
	16	Marathon Oil Corp.		580
	7	Marathon Petroleum Corp.		587
	4	Murphy Oil Corp.		259
	3	Newfield Exploration Co. (a)		86
	8	Noble Energy, Inc.		572
	18	Occidental Petroleum Corp.		1,734
	6	Peabody Energy Corp.		111
	14	Phillips 66		964
	3	Pioneer Natural Resources Co.		558
	4	QEP Resources, Inc.		130
	4	Range Resources Corp.		288
	8	Southwestern Energy Co. (a)		308
	15	Spectra Energy Corp.		509
	3	Tesoro Corp.		180
	12	Valero Energy Corp.		562
	15	Williams Cos., Inc. (The)		545
	5	WPX Energy, Inc. (a)		85
				30,480
		Total Energy		37,465
	Financials — 16.1%
		Capital Markets — 2.2%
	4	Ameriprise Financial, Inc.		486
	26	Bank of New York Mellon Corp. (The)		879
	3	BlackRock, Inc.		864
	26	Charles Schwab Corp. (The)		642
	7	E*TRADE Financial Corp. (a)		117
	9	Franklin Resources, Inc.		510
	9	Goldman Sachs Group, Inc. (The)		1,599
	10	Invesco Ltd.		350
	2	Legg Mason, Inc.		96
	32	Morgan Stanley		986
	5	Northern Trust Corp.		302
	10	State Street Corp.		734
	6	T. Rowe Price Group, Inc.		474
				8,039
		Commercial Banks — 2.8%
	16	BB&T Corp.		554
	4	Comerica, Inc.		190
	20	Fifth Third Bancorp		408
	19	Huntington Bancshares, Inc.		173
	21	KeyCorp		263
	3	M&T Bank Corp.		316
	12	PNC Financial Services Group, Inc. (The)		927
	32	Regions Financial Corp.		308
	12	SunTrust Banks, Inc.		443
	42	U.S. Bancorp		1,635
	110	Wells Fargo & Co.		4,821
	4	Zions Bancorp		123
				10,161
		Consumer Finance — 1.0%
	21	American Express Co.		1,804
	13	Capital One Financial Corp.		950
	11	Discover Financial Services		584
	10	SLM Corp.		264
				3,602
		Diversified Financial Services — 4.0%
	243	Bank of America Corp.		3,852
	69	Citigroup, Inc.		3,647
	7	CME Group, Inc.		584
	3	IntercontinentalExchange Group, Inc. (a)		552
	85	JPMorgan Chase & Co. (b) (q)		4,881
	7	Leucadia National Corp.		203
	6	McGraw Hill Financial, Inc.		465
	4	Moody’s Corp.		328
	3	NASDAQ OMX Group, Inc. (The)		103
				14,615
		Insurance — 4.3%
	8	ACE Ltd., (Switzerland)		792
	11	Aflac, Inc.		700
	11	Allstate Corp. (The)		570

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Insurance — Continued
	33	American International Group, Inc.		1,665
	7	Aon plc, (United Kingdom)		569
	2	Assurant, Inc.		110
	41	Berkshire Hathaway, Inc., Class B (a)		4,754
	6	Chubb Corp. (The)		559
	3	Cincinnati Financial Corp.		175
	11	Genworth Financial, Inc., Class A (a)		169
	10	Hartford Financial Services Group, Inc.		367
	6	Lincoln National Corp.		308
	7	Loews Corp.		328
	12	Marsh & McLennan Cos., Inc.		591
	25	MetLife, Inc.		1,325
	6	Principal Financial Group, Inc.		314
	13	Progressive Corp. (The)		350
	11	Prudential Financial, Inc.		935
	2	Torchmark Corp.		158
	8	Travelers Cos., Inc. (The)		768
	6	Unum Group		201
	6	XL Group plc, (Ireland)		207
				15,915
		Real Estate Investment Trusts (REITs) — 1.8%
	9	American Tower Corp.		696
	3	Apartment Investment & Management Co., Class A		83
	3	AvalonBay Communities, Inc.		327
	3	Boston Properties, Inc.		344
	8	Equity Residential		391
	10	HCP, Inc.		379
	6	Health Care REIT, Inc.		364
	17	Host Hotels & Resorts, Inc.		313
	9	Kimco Realty Corp.		191
	3	Macerich Co. (The)		181
	4	Plum Creek Timber Co., Inc.		162
	11	Prologis, Inc.		429
	3	Public Storage		500
	7	Simon Property Group, Inc.		1,054
	7	Ventas, Inc.		378
	4	Vornado Realty Trust		347
	13	Weyerhaeuser Co.		399
				6,538
		Real Estate Management & Development — 0.0% (g)
	6	CBRE Group, Inc., Class A (a)		152
		Thrifts & Mortgage Finance — 0.0% (g)
	11	Hudson City Bancorp, Inc.		101
	7	People’s United Financial, Inc.		110
				211
		Total Financials		59,233
	Health Care — 13.1%
		Biotechnology — 2.5%
	4	Alexion Pharmaceuticals, Inc. (a)		552
	17	Amgen, Inc.		1,948
	5	Biogen Idec, Inc. (a)		1,567
	9	Celgene Corp. (a)		1,508
	35	Gilead Sciences, Inc. (a)		2,595
	2	Regeneron Pharmaceuticals, Inc. (a)		520
	5	Vertex Pharmaceuticals, Inc. (a)		366
				9,056
		Health Care Equipment & Supplies — 2.0%
	35	Abbott Laboratories		1,345
	12	Baxter International, Inc.		842
	4	Becton, Dickinson & Co.		478
	30	Boston Scientific Corp. (a)		353
	2	C.R. Bard, Inc.		249
	5	CareFusion Corp. (a)		194
	10	Covidien plc, (Ireland)		712
	3	DENTSPLY International, Inc.		153
	3	Edwards Lifesciences Corp. (a)		167
	1	Intuitive Surgical, Inc. (a)		339
	23	Medtronic, Inc.		1,296
	7	St. Jude Medical, Inc.		380
	7	Stryker Corp.		498
	2	Varian Medical Systems, Inc. (a)		190
	4	Zimmer Holdings, Inc.		351
				7,547
		Health Care Providers & Services — 2.1%
	8	Aetna, Inc.		581
	5	AmerisourceBergen Corp.		369
	8	Cardinal Health, Inc.		497
	6	Cigna Corp.		561
	4	DaVita HealthCare Partners, Inc. (a)		238
	18	Express Scripts Holding Co. (a)		1,243
	4	Humana, Inc.		369
	2	Laboratory Corp. of America Holdings (a)		208
	5	McKesson Corp.		860
	2	Patterson Cos., Inc.		78
	3	Quest Diagnostics, Inc.		210
	2	Tenet Healthcare Corp. (a)		100
	23	UnitedHealth Group, Inc.		1,716

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Health Care Providers & Services — Continued
	7	WellPoint, Inc.		629
				7,659
		Health Care Technology — 0.1%
	7	Cerner Corp. (a)		384
		Life Sciences Tools & Services — 0.5%
	7	Agilent Technologies, Inc.		402
	4	Life Technologies Corp. (a)		296
	3	PerkinElmer, Inc.		97
	8	Thermo Fisher Scientific, Inc.		824
	2	Waters Corp. (a)		192
				1,811
		Pharmaceuticals — 5.9%
	36	AbbVie, Inc.		1,741
	4	Actavis plc (a)		640
	7	Allergan, Inc.		653
	37	Bristol-Myers Squibb Co.		1,917
	22	Eli Lilly & Co.		1,128
	5	Forest Laboratories, Inc. (a)		275
	4	Hospira, Inc. (a)		148
	64	Johnson & Johnson		6,046
	66	Merck & Co., Inc.		3,305
	9	Mylan, Inc. (a)		382
	2	Perrigo Co.		332
	150	Pfizer, Inc.		4,761
	11	Zoetis, Inc.		353
				21,681
		Total Health Care		48,138
	Industrials — 10.7%
		Aerospace & Defense — 2.7%
	16	Boeing Co. (The)		2,112
	8	General Dynamics Corp.		690
	18	Honeywell International, Inc.		1,574
	2	L-3 Communications Holdings, Inc.		210
	6	Lockheed Martin Corp.		866
	5	Northrop Grumman Corp.		588
	3	Precision Castparts Corp.		853
	7	Raytheon Co.		648
	3	Rockwell Collins, Inc.		223
	6	Textron, Inc.		211
	19	United Technologies Corp.		2,121
				10,096
		Air Freight & Logistics — 0.8%
	4	C.H. Robinson Worldwide, Inc.		212
	5	Expeditors International of Washington, Inc.		203
	7	FedEx Corp.		934
	16	United Parcel Service, Inc., Class B		1,677
				3,026
		Airlines — 0.2%
	19	Delta Air Lines, Inc.		563
	16	Southwest Airlines Co.		298
				861
		Building Products — 0.0% (g)
	8	Masco Corp.		181
		Commercial Services & Supplies — 0.5%
	5	ADT Corp. (The)		184
	2	Cintas Corp.		129
	4	Iron Mountain, Inc.		108
	5	Pitney Bowes, Inc.		106
	6	Republic Services, Inc.		215
	2	Stericycle, Inc. (a)		229
	10	Tyco International Ltd., (Switzerland)		400
	10	Waste Management, Inc.		451
				1,822
		Construction & Engineering — 0.2%
	4	Fluor Corp.		288
	3	Jacobs Engineering Group, Inc. (a)		178
	5	Quanta Services, Inc. (a)		143
				609
		Electrical Equipment — 0.8%
	6	AMETEK, Inc.		272
	11	Eaton Corp. plc, (Ireland)		780
	16	Emerson Electric Co.		1,085
	3	Rockwell Automation, Inc.		357
	2	Roper Industries, Inc.		292
				2,786
		Industrial Conglomerates — 2.5%
	15	3M Co.		1,965
	14	Danaher Corp.		1,014
	231	General Electric Co.		6,153
				9,132
		Machinery — 1.7%
	14	Caterpillar, Inc.		1,220
	4	Cummins, Inc.		522
	9	Deere & Co.		731
	4	Dover Corp.		351

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Machinery — Continued
	3	Flowserve Corp.		228
	9	Illinois Tool Works, Inc.		743
	6	Ingersoll-Rand plc, (Ireland)		438
	2	Joy Global, Inc.		136
	8	PACCAR, Inc.		460
	3	Pall Corp.		212
	3	Parker Hannifin Corp.		399
	5	Pentair Ltd., (Switzerland)		319
	1	Snap-on, Inc.		140
	4	Stanley Black & Decker, Inc.		295
	4	Xylem, Inc.		145
				6,339
		Professional Services — 0.2%
	1	Dun & Bradstreet Corp. (The)		103
	3	Equifax, Inc.		185
	6	Nielsen Holdings N.V.		251
	3	Robert Half International, Inc.		122
				661
		Road & Rail — 0.9%
	23	CSX Corp.		630
	2	Kansas City Southern		302
	7	Norfolk Southern Corp.		620
	1	Ryder System, Inc.		83
	11	Union Pacific Corp.		1,704
				3,339
		Trading Companies & Distributors — 0.2%
	6	Fastenal Co.		288
	1	W.W. Grainger, Inc.		362
				650
		Total Industrials		39,502
	Information Technology — 17.7%
		Communications Equipment — 1.7%
	122	Cisco Systems, Inc.		2,582
	2	F5 Networks, Inc. (a)		146
	2	Harris Corp.		156
	5	JDS Uniphase Corp. (a)		66
	11	Juniper Networks, Inc. (a)		233
	5	Motorola Solutions, Inc.		353
	39	QUALCOMM, Inc.		2,861
				6,397
		Computers & Peripherals — 4.1%
	21	Apple, Inc.		11,449
	47	EMC Corp.		1,125
	44	Hewlett-Packard Co.		1,191
	8	NetApp, Inc.		318
	5	SanDisk Corp.		349
	7	Seagate Technology plc, (Ireland)		361
	5	Western Digital Corp.		359
				15,152
		Electronic Equipment, Instruments & Components — 0.5%
	4	Amphenol Corp., Class A		307
	33	Corning, Inc.		565
	3	FLIR Systems, Inc.		96
	4	Jabil Circuit, Inc.		85
	3	Molex, Inc.		120
	9	TE Connectivity Ltd., (Switzerland)		494
				1,667
		Internet Software & Services — 2.5%
	4	Akamai Technologies, Inc. (a)		181
	26	eBay, Inc. (a)		1,334
	6	Google, Inc., Class A (a)		6,718
	3	VeriSign, Inc. (a)		174
	22	Yahoo!, Inc. (a)		795
				9,202
		IT Services — 3.4%
	15	Accenture plc, (Ireland), Class A		1,132
	11	Automatic Data Processing, Inc.		876
	7	Cognizant Technology Solutions Corp., Class A (a)		641
	3	Computer Sciences Corp.		176
	7	Fidelity National Information Services, Inc.		336
	3	Fiserv, Inc. (a)		324
	23	International Business Machines Corp.		4,193
	2	MasterCard, Inc., Class A		1,789
	7	Paychex, Inc.		322
	4	Teradata Corp. (a)		169
	4	Total System Services, Inc.		117
	12	Visa, Inc., Class A		2,380
	13	Western Union Co. (The)		209
				12,664
		Office Electronics — 0.1%
	26	Xerox Corp.		299
		Semiconductors & Semiconductor Equipment — 2.0%
	7	Altera Corp.		233
	7	Analog Devices, Inc.		339
	27	Applied Materials, Inc.		472

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Semiconductors & Semiconductor Equipment — Continued
	12	Broadcom Corp., Class A		333
	2	First Solar, Inc. (a)		94
	113	Intel Corp.		2,692
	4	KLA-Tencor Corp.		240
	4	Lam Research Corp. (a)		189
	5	Linear Technology Corp.		225
	12	LSI Corp.		100
	4	Microchip Technology, Inc.		194
	24	Micron Technology, Inc. (a)		497
	13	NVIDIA Corp.		204
	4	Teradyne, Inc. (a)		74
	25	Texas Instruments, Inc.		1,073
	6	Xilinx, Inc.		268
				7,227
		Software — 3.4%
	11	Adobe Systems, Inc. (a)		601
	5	Autodesk, Inc. (a)		229
	7	CA, Inc.		245
	4	Citrix Systems, Inc. (a)		252
	7	Electronic Arts, Inc. (a)		154
	7	Intuit, Inc.		500
	172	Microsoft Corp.		6,551
	81	Oracle Corp.		2,852
	4	Red Hat, Inc. (a)		201
	12	Salesforce.com, Inc. (a)		647
	16	Symantec Corp.		356
				12,588
		Total Information Technology		65,196
	Materials — 3.4%
		Chemicals — 2.5%
	5	Air Products & Chemicals, Inc.		517
	2	Airgas, Inc.		163
	1	CF Industries Holdings, Inc.		282
	27	Dow Chemical Co. (The)		1,072
	21	E.I. du Pont de Nemours & Co.		1,285
	3	Eastman Chemical Co.		269
	6	Ecolab, Inc.		659
	3	FMC Corp.		225
	2	International Flavors & Fragrances, Inc.		164
	10	LyondellBasell Industries N.V., Class A		784
	12	Monsanto Co.		1,369
	8	Mosaic Co. (The)		370
	3	PPG Industries, Inc.		596
	7	Praxair, Inc.		844
	2	Sherwin-Williams Co. (The)		362
	3	Sigma-Aldrich Corp.		235
				9,196
		Construction Materials — 0.1%
	3	Vulcan Materials Co.		166
		Containers & Packaging — 0.2%
	2	Avery Dennison Corp.		109
	3	Ball Corp.		164
	2	Bemis Co., Inc.		91
	4	MeadWestvaco Corp.		141
	4	Owens-Illinois, Inc. (a)		123
	4	Sealed Air Corp.		143
				771
		Metals & Mining — 0.5%
	24	Alcoa, Inc.		233
	2	Allegheny Technologies, Inc.		81
	3	Cliffs Natural Resources, Inc.		87
	24	Freeport-McMoRan Copper & Gold, Inc.		816
	11	Newmont Mining Corp.		280
	7	Nucor Corp.		368
	3	United States Steel Corp.		88
				1,953
		Paper & Forest Products — 0.1%
	10	International Paper Co.		472
		Total Materials		12,558
	Telecommunication Services — 2.4%
		Diversified Telecommunication Services — 2.2%
	120	AT&T, Inc.		4,238
	14	CenturyLink, Inc.		418
	23	Frontier Communications Corp.		106
	65	Verizon Communications, Inc.		3,218
	13	Windstream Holdings, Inc.		109
				8,089
		Wireless Telecommunication Services — 0.2%
	7	Crown Castle International Corp. (a)		554
		Total Telecommunication Services		8,643
	Utilities — 2.9%
		Electric Utilities — 1.6%
	11	American Electric Power Co., Inc.		519
	16	Duke Energy Corp.		1,119
	7	Edison International		341
	4	Entergy Corp.		250

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — Continued
		Electric Utilities — Continued
	19	Exelon Corp.		523
	9	FirstEnergy Corp.		309
	10	NextEra Energy, Inc.		814
	7	Northeast Utilities		293
	6	Pepco Holdings, Inc.		108
	2	Pinnacle West Capital Corp.		133
	14	PPL Corp.		440
	20	Southern Co. (The)		805
	11	Xcel Energy, Inc.		316
				5,970
		Gas Utilities — 0.1%
	3	AGL Resources, Inc.		125
	5	ONEOK, Inc.		271
				396
		Independent Power Producers & Energy Traders — 0.1%
	14	AES Corp.		203
	7	NRG Energy, Inc.		194
				397
		Multi-Utilities — 1.1%
	6	Ameren Corp.		197
	10	CenterPoint Energy, Inc.		228
	6	CMS Energy Corp.		160
	7	Consolidated Edison, Inc.		366
	13	Dominion Resources, Inc.		852
	4	DTE Energy Co.		265
	2	Integrys Energy Group, Inc.		97
	7	NiSource, Inc.		224
	10	PG&E Corp.		407
	11	Public Service Enterprise Group, Inc.		375
	3	SCANA Corp.		150
	5	Sempra Energy		455
	5	TECO Energy, Inc.		79
	5	Wisconsin Energy Corp.		216
				4,071
		Total Utilities		10,834
		Total Common Stocks (Cost $194,533)		364,115
	Exchange Traded Fund — 0.2%
	3	SPDR S&P 500 ETF Trust (Cost $396)		555
PRINCIPAL AMOUNT ($)
	Short-Term Investments — 0.8%
		U.S. Treasury Obligation — 0.1%
	255	U.S. Treasury Bill, 0.045%, 02/06/14 (k) (n) (Cost $255)		255
SHARES
		Investment Company — 0.7%
	2,615	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.030% (b) (l) (m) (Cost $2,615)		2,615
		Total Short-Term Investments (Cost $2,870)		2,870
		Total Investments — 100.0% (Cost $197,799)		367,540
		Other Assets in Excess of Liabilities — 0.0% (g)		123
		NET ASSETS — 100.0%	$	367,663

Percentages indicated are based on net assets.

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands, except number of contracts)

Futures Contracts
NUMBER OF CONTRACTS		DESCRIPTION	EXPIRATION DATE		NOTIONAL VALUE AT 11/30/13		NET UNREALIZED APPRECIATION (DEPRECIATION)
		Long Futures Outstanding
	25	E-mini S&P 500		12/20/13	$	2,255	$	34

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

ETF	—	Exchange Traded Fund
SPDR	—	Standard & Poor’s Depositary Receipts
(a)	—	Non-income producing security.
(b)	—	Investment in affiliate. Money market fund registered under the Investment Company Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc.
(g)	—	Amount rounds to less than 0.1%.
(h)	—	Amount rounds to less than one thousand (shares or dollars).
(k)	—	All or a portion of this security is deposited with the broker as collateral for futures or with brokers as initial margin for futures contracts.
(l)	—	The rate shown is the current yield as of November 30, 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.

As of November 30, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	171,899
Aggregate gross unrealized depreciation		(2,158	)
Net unrealized appreciation/depreciation	$	169,741
Federal income tax cost of investments	$	197,799

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands, except number of contracts)

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

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

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

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

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

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Total Investments in Securities (a)	$	367,285	$	255	$	–	$	367,540
Appreciation in Other Financial Instruments
Futures Contracts	$	34	$	–	$	–	$	34

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

There were no transfers among any level during the period ended November 30, 2013.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — 4.7%
	126	Academic Loan Funding Trust, Series 2012-1A, Class A1, VAR, 0.966%, 12/27/22 (e)		127
		Ally Auto Receivables Trust,
	90	Series 2012-1, Class A3, 0.930%, 02/16/16		91
	311	Series 2012-2, Class A3, 0.740%, 04/15/16		311
	75	Series 2012-4, Class A2, 0.480%, 05/15/15		75
	106	Series 2012-5, Class A2, 0.450%, 07/15/15		106
	344	Series 2013-2, Class A3, 0.790%, 01/15/18		344
	120	Series 2013-2, Class A4, 1.240%, 11/15/18		120
		American Credit Acceptance Receivables Trust,
	19	Series 2012-1, Class A2, 3.040%, 10/15/15 (e)		19
	103	Series 2012-2, Class A,1.890%, 07/15/16 (e)		104
	43	Series 2012-3, Class A,1.640%, 11/15/16 (e)		43
	190	Series 2013-2, Class A,1.320%, 02/15/17 (e)		190
		AmeriCredit Automobile Receivables Trust,
	194	Series 2011-5, Class A3, 1.550%, 07/08/16		195
	15	Series 2012-1, Class A2, 0.910%, 10/08/15		15
	94	Series 2012-1, Class A3, 1.230%, 09/08/16		94
	32	Series 2012-4, Class A2, 0.490%, 04/08/16		32
	141	Series 2013-1, Class A2, 0.490%, 06/08/16		141
	53	Series 2013-1, Class A3, 0.610%, 10/10/17		53
	489	Series 2013-4, Class A2, 0.740%, 11/08/16		490
	157	Series 2013-5, Class A3, 0.900%, 09/10/18		157
	365	Axis Equipment Finance Receivables LLC, Series 2013-1A, Class A, 1.750%, 03/20/17 (e)		365
	30	Bank of America Auto Trust, Series 2010-2, Class A4, 1.940%, 06/15/17		29
	48	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.536%, 04/25/36		46
		BMW Vehicle Lease Trust,
	122	Series 2013-1, Class A2, 0.400%, 01/20/15		122
	48	Series 2013-1, Class A3, 0.540%, 09/21/15		48
	170	BMW Vehicle Owner Trust, Series 2013-A, Class A3, 0.670%, 11/27/17		170
	100	Cabela’s Master Credit Card Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		101
	92	California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		92
		Capital Auto Receivables Asset Trust,
	247	Series 2013-1, Class A2, 0.620%, 07/20/16		247
	250	Series 2013-3, Class A1B, VAR, 0.598%, 11/20/15		250
	71	Carfinance Capital Auto Trust, Series 2013-2A, Class A, 1.750%, 11/15/17 (e)		70
		CarMax Auto Owner Trust,
	154	Series 2013-4, Class A3, 0.800%, 07/16/18		154
	137	Series 2013-4, Class A4, 1.280%, 05/15/19		137
	146	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		151
		CNH Equipment Trust,
	81	Series 2012-A, Class A3, 0.940%, 05/15/17		81
	52	Series 2012-C, Class A2, 0.440%, 02/16/16		52
		Concord Funding Co. LLC,
	300	Series 2012-2, Class A, 3.145%, 01/15/17 (e)		300
	100	Series 2013-1, Class A, 2.420%, 02/15/15 (e)		98
		CPS Auto Receivables Trust,
	45	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		47
	40	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		40
	244	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		247
	204	Discover Card Execution Note Trust, Series 2012-A1, Class A1, 0.810%, 08/15/17		205

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	18	DT Auto Owner Trust, Series 2012-2A, Class A, 0.910%, 11/16/15 (e)		18
	139	Exeter Automobile Receivables Trust, Series 2013-2A, Class A, 1.490%, 11/15/17 (e)		140
	175	Fifth Third Auto Trust, Series 2013-1, Class A3, 0.880%, 10/16/17		176
		First Investors Auto Owner Trust,
	59	Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		59
	78	Series 2013-1A, Class A2, 0.900%, 10/15/18 (e)		78
	341	Flagship Credit Auto Trust, Series 2013-2, Class A, 1.940%, 01/15/19 (e)		341
		Ford Credit Auto Lease Trust,
	235	Series 2013-B, Class A3, 0.760%, 09/15/16		235
	100	Series 2013-B, Class A4, 0.960%, 10/15/16		100
		Ford Credit Auto Owner Trust,
	121	Series 2012-A, Class A3, 0.840%, 08/15/16		121
	41	Series 2012-D, Class A2, 0.400%, 09/15/15		41
	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, 0.548%, 01/15/18		140
	71	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		70
		GE Equipment Midticket LLC,
	200	Series 2012-1, Class A3, 0.600%, 05/23/16		200
	60	Series 2012-1, Class A4, 0.780%, 09/22/20		60
	31	GE Equipment Transportation LLC, Series 2012-2, Class A2, 0.470%, 04/24/15		31
	306	GMAT Trust, Series 2013-1A, Class A, SUB, 3.967%, 11/25/43 (e)		306
		HLSS Servicer Advance Receivables Backed Notes,
	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)		165
	357	Series 2013-T7, Class A7, 1.981%, 11/15/46 (e)		357
		Honda Auto Receivables Owner Trust,
	98	Series 2012-1, Class A3, 0.770%, 01/15/16		98
	56	Series 2012-1, Class A4, 0.970%, 04/16/18		56
	91	Series 2013-1, Class A2, 0.350%, 06/22/15		91
	382	Series 2013-4, Class A3, 0.690%, 09/18/17		383
	140	Series 2013-4, Class A4, 1.040%, 02/18/20		140
		HSBC Home Equity Loan Trust USA,
	43	Series 2006-1, Class A1, VAR, 0.328%, 01/20/36		42
	49	Series 2007-3, Class APT, VAR, 1.368%, 11/20/36		48
		Huntington Auto Trust,
	71	Series 2011-1A, Class A3, 1.010%, 01/15/16 (e)		71
	100	Series 2011-1A, Class A4, 1.310%, 11/15/16 (e)		101
	101	Series 2012-1, Class A3, 0.810%, 09/15/16		101
	93	Series 2012-2, Class A2, 0.380%, 09/15/15		93
		Hyundai Auto Receivables Trust,
	2	Series 2010-B, Class A3, 0.970%, 04/15/15		2
	64	Series 2012-A, Class A3, 0.720%, 03/15/16		64
	18	Series 2012-B, Class A2, 0.540%, 01/15/15		19
	119	Series 2012-B, Class A3, 0.620%, 09/15/16		119
	31	John Deere Owner Trust, Series 2012-B, Class A2, 0.430%, 02/17/15		31
	3	LAI Vehicle Lease Securitization Trust, Series 2010-A, Class A, 2.550%, 09/15/16 (e) (i)		2
	146	Macquarie Equipment Funding Trust, Series 2012-A, Class A2, 0.610%, 04/20/15 (e)		146
	28	Mercedes-Benz Auto Receivables Trust, Series 2012-1, Class A2, 0.370%, 03/16/15		28
	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

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Asset-Backed Securities — Continued
	200	Nationstar Mortgage Advance Receivable Trust, Series 2013-T2A, Class A2, 1.679%, 06/20/46 (e)		200
	202	Navitas Equipment Receivables LLC, Series 2013-1, Class A, 1.950%, 11/15/16 (e)		202
		Nissan Auto Lease Trust,
	62	Series 2012-B, Class A2A, 0.450%, 06/15/15		62
	122	Series 2013-B, Class A3, 0.750%, 06/15/16		122
		Nissan Auto Receivables Owner Trust,
	47	Series 2010-A, Class A4, 1.310%, 09/15/16		47
	117	Series 2012-A, Class A4, 1.000%, 07/16/18		118
	150	Series 2013-A, Class A2, 0.370%, 09/15/15		151
	498	Normandy Mortgage Loan Co. LLC, Series 2013-NPL3, Class A, SUB, 4.949%, 09/16/43 (e)		498
	328	NYMT Residential LLC, Series 2013-RP3A, SUB, 4.850%, 09/25/18 (i)		328
	219	Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-MCW1, Class M1, VAR, 1.104%, 10/25/34		218
	137	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.466%, 03/25/36		129
	128	Residential Credit Solutions Trust, Series 2011-1, Class A1, 6.000%, 03/25/41 (e) (i)		130
	219	Resort Finance Timeshare Receivables Trust, Series 2012-2, 5.750%, 09/05/18 (i)		219
		Santander Drive Auto Receivables Trust,
	100	Series 2010-A, Class A4, 2.390%, 06/15/17 (e)		101
	70	Series 2011-1, Class B, 2.350%, 11/16/15		71
	11	Series 2011-S2A, Class B, 2.060%, 06/15/17 (e)		11
	1	Series 2012-1, Class A2, 1.250%, 04/15/15		1
	4	Series 2012-2, Class A2, 0.910%, 05/15/15		4
	53	Series 2012-2, Class A3, 1.220%, 12/15/15		53
	16	Series 2012-5, Class A2, 0.570%, 12/15/15		16
	60	Series 2012-5, Class A3, 0.830%, 12/15/16		60
	56	Series 2012-6, Class A3, 0.620%, 07/15/16		56
	42	Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.689%, 01/25/36		27
		SNAAC Auto Receivables Trust,
	11	Series 2012-1A, Class A, 1.780%, 06/15/16 (e)		11
	44	Series 2013-1A, Class A, 1.140%, 07/16/18 (e)		44
	950	Springleaf Funding Trust, Series 2013-AA, Class A, 2.580%, 09/15/21 (e)		949
		Stanwich Mortgage Loan Co. LLC,
	99	Series 2012-NPL4, Class A, 2.981%, 09/15/42 (e)		100
	141	Series 2012-NPL5, Class A, 2.981%, 10/18/42 (e)		141
	319	Stanwich Mortgage Loan Trust, Series 2013-NPL1, Class A, 2.981%, 02/16/43 (e)		323
	321	Trafigura Securitisation Finance plc, (Ireland), Series 2012-1A, Class A, VAR, 2.568%, 10/15/15 (e)		326
	11	USAA Auto Owner Trust, Series 2012-1, Class A2, 0.380%, 06/15/15		11
	438	Vericrest Opportunity Loan Transferee, Series 2013-NPL5, Class A1, SUB, 3.625%, 04/25/55 (e)		436
	183	Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Class A3, 0.850%, 08/22/16		184
	452	Volt NPL IX LLC, Series 2013-NPL3, Class A1, SUB, 4.250%, 04/25/53 (e)		451
	142	Westgate Resorts LLC, Series 2012-1, Class A, 4.500%, 09/20/25 (e)		145
		World Omni Auto Receivables Trust,
	38	Series 2012-A, Class A2, 0.520%, 06/15/15		38
	102	Series 2012-A, Class A3, 0.640%, 02/15/17		102
	72	Series 2012-B, Class A2, 0.430%, 11/16/15		72
	407	Series 2013-B, Class A3, 0.830%, 08/15/18		408
	127	Series 2013-B, Class A4, 1.320%, 01/15/20		127
		Total Asset-Backed Securities (Cost $17,660)		17,723

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — 21.3%
			Agency CMO — 17.1%
	55		Federal Home Loan Mortgage Corp. - Government National Mortgage Association, Series 24, Class ZE, 6.250%, 11/25/23		61
			Federal Home Loan Mortgage Corp. REMIC,
	3		Series 11, Class D, 9.500%, 07/15/19		3
	–	(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		13
	1		Series 1079, Class S, HB, IF, 33.430%, 05/15/21		1
	1		Series 1084, Class F, VAR, 1.118%, 05/15/21		1
	–	(h)	Series 1084, Class S, HB, IF, 44.470%, 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, 1,179.202%, 01/15/22		1
	7		Series 1206, Class IA, 7.000%, 03/15/22		8
	5		Series 1250, Class J, 7.000%, 05/15/22		6
	18		Series 1343, Class LA, 8.000%, 08/15/22		21
	74		Series 1466, Class PZ, 7.500%, 02/15/23		84
	1		Series 1470, Class F, VAR, 1.957%, 02/15/23		1
	27		Series 1491, Class I, 7.500%, 04/15/23		31
	28		Series 1518, Class G, IF, 8.849%, 05/15/23		33
	24		Series 1541, Class O, VAR, 1.870%, 07/15/23		25
	3		Series 1602, Class SA, HB, IF, 22.205%, 10/15/23		5
	85		Series 1608, Class L, 6.500%, 09/15/23		94
	30		Series 1609, Class LG, IF, 16.970%, 11/15/23		34
	4		Series 1671, Class L, 7.000%, 02/15/24		4
	15		Series 1700, Class GA, PO, 02/15/24		15
	153		Series 1706, Class K, 7.000%, 03/15/24		174
	509		Series 1720, Class PL, 7.500%, 04/15/24		590
	13		Series 1745, Class D, 7.500%, 08/15/24		15
	30		Series 1798, Class F, 5.000%, 05/15/23		33
	2		Series 1807, Class G, 9.000%, 10/15/20		2
	148		Series 1927, Class PH, 7.500%, 01/15/27		172
	62		Series 1981, Class Z, 6.000%, 05/15/27		70
	19		Series 1987, Class PE, 7.500%, 09/15/27		21
	9		Series 2033, Class SN, HB, IF, 27.133%, 03/15/24		6
	25		Series 2038, Class PN, IO, 7.000%, 03/15/28		6
	123		Series 2040, Class PE, 7.500%, 03/15/28		142
	25		Series 2056, Class TD, 6.500%, 05/15/18		27
	143		Series 2063, Class PG, 6.500%, 06/15/28		161
	22		Series 2064, Class TE, 7.000%, 06/15/28		26
	101		Series 2075, Class PH, 6.500%, 08/15/28		115
	98		Series 2075, Class PM, 6.250%, 08/15/28		100
	30		Series 2089, Class PJ, IO, 7.000%, 10/15/28		6
	–	(h)	Series 2102, Class TC, 6.000%, 12/15/13		—	(h)
	1		Series 2115, Class PE, 6.000%, 01/15/14		1
	62		Series 2125, Class JZ, 6.000%, 02/15/29		68
	13		Series 2163, Class PC, IO, 7.500%, 06/15/29		3
	292		Series 2169, Class TB, 7.000%, 06/15/29		339
	85		Series 2172, Class QC, 7.000%, 07/15/29		97
	1		Series 2196, Class TL, 7.500%, 11/15/29		1
	45		Series 2201, Class C, 8.000%, 11/15/29		53
	107		Series 2210, Class Z, 8.000%, 01/15/30		125
	43		Series 2224, Class CB, 8.000%, 03/15/30		51
	55		Series 2256, Class MC, 7.250%, 09/15/30		64
	72		Series 2259, Class ZM, 7.000%, 10/15/30		84
	66		Series 2271, Class PC, 7.250%, 12/15/30		77
	70		Series 2283, Class K, 6.500%, 12/15/23		78
	28		Series 2296, Class PD, 7.000%, 03/15/31		33
	16		Series 2306, Class K, PO, 05/15/24		15
	39		Series 2306, Class SE, IF, IO, 7.940%, 05/15/24		7
	31		Series 2333, Class HC, 6.000%, 07/15/31		30
	17		Series 2344, Class QG, 6.000%, 08/15/16		18

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	594	Series 2344, Class ZD, 6.500%, 08/15/31		644
	75	Series 2344, Class ZJ, 6.500%, 08/15/31		84
	55	Series 2345, Class NE, 6.500%, 08/15/31		62
	32	Series 2345, Class PQ, 6.500%, 08/15/16		34
	40	Series 2347, Class VP, 6.500%, 03/15/20		40
	73	Series 2351, Class PZ, 6.500%, 08/15/31		83
	24	Series 2355, Class BP, 6.000%, 09/15/16		25
	24	Series 2360, Class PG, 6.000%, 09/15/16		26
	21	Series 2366, Class MD, 6.000%, 10/15/16		22
	33	Series 2391, Class QR, 5.500%, 12/15/16		35
	51	Series 2410, Class NG, 6.500%, 02/15/32		56
	79	Series 2410, Class OE, 6.375%, 02/15/32		86
	32	Series 2410, Class QX, IF, IO, 8.482%, 02/15/32		8
	123	Series 2412, Class SP, IF, 15.765%, 02/15/32		170
	36	Series 2423, Class MC, 7.000%, 03/15/32		41
	77	Series 2423, Class MT, 7.000%, 03/15/32		89
	243	Series 2435, Class CJ, 6.500%, 04/15/32		268
	89	Series 2441, Class GF, 6.500%, 04/15/32		101
	84	Series 2444, Class ES, IF, IO, 7.782%, 03/15/32		16
	105	Series 2450, Class GZ, 7.000%, 05/15/32		121
	34	Series 2450, Class SW, IF, IO, 7.832%, 03/15/32		7
	141	Series 2455, Class GK, 6.500%, 05/15/32		160
	185	Series 2466, Class DH, 6.500%, 06/15/32		210
	20	Series 2466, Class PG, 6.500%, 04/15/32		20
	96	Series 2474, Class NR, 6.500%, 07/15/32		109
	180	Series 2484, Class LZ, 6.500%, 07/15/32		203
	222	Series 2500, Class MC, 6.000%, 09/15/32		246
	321	Series 2512, Class PG, 5.500%, 10/15/22		356
	60	Series 2535, Class BK, 5.500%, 12/15/22		67
	103	Series 2537, Class TE, 5.500%, 12/15/17		110
	388	Series 2543, Class YX, 6.000%, 12/15/32		435
	496	Series 2568, Class KG, 5.500%, 02/15/23		545
	654	Series 2575, Class ME, 6.000%, 02/15/33		734
	52	Series 2586, Class WI, IO, 6.500%, 03/15/33		11
	151	Series 2617, Class GR, 4.500%, 05/15/18		159
	106	Series 2622, Class PE, 4.500%, 05/15/18		112
	66	Series 2631, Class LC, 4.500%, 06/15/18		69
	102	Series 2651, Class VZ, 4.500%, 07/15/18		107
	53	Series 2672, Class ME, 5.000%, 11/15/22		54
	214	Series 2675, Class CK, 4.000%, 09/15/18		226
	261	Series 2684, Class PO, PO, 01/15/33		259
	124	Series 2744, Class TU, 5.500%, 05/15/32		131
	4	Series 2755, Class SA, IF, 13.865%, 05/15/30		4
	94	Series 2777, Class KO, PO, 02/15/33		93
	655	Series 2907, Class VC, 4.500%, 05/15/34		672
	141	Series 2934, Class EC, PO, 02/15/20		141
	153	Series 2990, Class SL, HB, IF, 23.878%, 06/15/34		227
	1,231	Series 2990, Class U2, 5.750%, 06/15/35		1,351
	395	Series 2999, Class ND, 4.500%, 07/15/20		422
	83	Series 3068, Class AO, PO, 01/15/35		81
	188	Series 3117, Class EO, PO, 02/15/36		173
	20	Series 3117, Class OK, PO, 02/15/36		19
	310	Series 3122, Class OH, PO, 03/15/36		298
	278	Series 3137, Class XP, 6.000%, 04/15/36		311
	6	Series 3149, Class SO, PO, 05/15/36		5
	377	Series 3152, Class MO, PO, 03/15/36		354
	168	Series 3171, Class MO, PO, 06/15/36		155
	84	Series 3179, Class OA, PO, 07/15/36		77
	596	Series 3202, Class HI, IF, IO, 6.482%, 08/15/36		109
	105	Series 3232, Class ST, IF, IO, 6.532%, 10/15/36		17
	126	Series 3253, Class PO, PO, 12/15/21		122
	70	Series 3316, Class JO, PO, 05/15/37		66

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	321		Series 3481, Class SJ, IF, IO, 5.682%, 08/15/38		48
	154		Series 3607, Class AO, PO, 04/15/36		144
	70		Series 3607, Class EO, PO, 02/15/33		70
	93		Series 3611, Class PO, PO, 07/15/34		86
	578		Series 3666, Class VA, 5.500%, 12/15/22		592
	708		Series 3680, Class MA, 4.500%, 07/15/39		774
	380		Series 3804, Class FN, VAR, 0.618%, 03/15/39		379
	939		Series 3819, Class ZQ, 6.000%, 04/15/36		1,043
	369		Series 3997, Class PF, VAR, 0.618%, 11/15/39		368
	984		Series 4219, Class JA, 3.500%, 08/15/39		1,015
			Federal Home Loan Mortgage Corp. STRIPS,
	58		Series 243, Class 16, IO, 4.500%, 11/15/20		4
	935		Series 262, Class 35, 3.500%, 07/15/42		950
	933		Series 267, Class F5, VAR, 0.668%, 08/15/42		933
	950		Series 274, Class F1, VAR, 0.668%, 08/15/42		950
	936		Series 279, Class F6, VAR, 0.618%, 09/15/42		930
			Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	46		Series T-41, Class 3A, VAR, 6.380%, 07/25/32		53
	37		Series T-51, Class 2A, VAR, 7.500%, 08/25/42		43
	375		Series T-54, Class 2A, 6.500%, 02/25/43		446
	130		Series T-54, Class 3A, 7.000%, 02/25/43		151
	971		Series T-56, Class A5, 5.231%, 05/25/43		1,060
	33		Series T-58, Class APO, PO, 09/25/43		27
	267		Series T-76, Class 2A, VAR, 3.287%, 10/25/37		267
			Federal National Mortgage Association - ACES,
	500		Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		554
	794		Series 2012-M11, Class FA, VAR, 0.702%, 08/25/19		799
	1,000		Series 2012-M9, Class A2, 2.482%, 04/25/22		950
	111		Federal National Mortgage Association Grantor Trust, Series 2001-T10, Class A2, 7.500%, 12/25/41		129
			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		7
	3		Series 1989-78, Class H, 9.400%, 11/25/19		3
	3		Series 1989-83, Class H, 8.500%, 11/25/19		3
	2		Series 1989-89, Class H, 9.000%, 11/25/19		2
	1		Series 1990-1, Class D, 8.800%, 01/25/20		1
	1		Series 1990-7, Class B, 8.500%, 01/25/20		1
	1		Series 1990-60, Class K, 5.500%, 06/25/20		1
	1		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		3
	1		Series 1990-134, Class SC, HB, IF, 21.351%, 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, 17.385%, 05/25/21		4
	49		Series 1992-107, Class SB, HB, IF, 29.576%, 06/25/22		86
	3		Series 1992-143, Class MA, 5.500%, 09/25/22		4
	27		Series 1993-25, Class J, 7.500%, 03/25/23		31
	158		Series 1993-37, Class PX, 7.000%, 03/25/23		179

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	57		Series 1993-54, Class Z, 7.000%, 04/25/23		65
	12		Series 1993-62, Class SA, IF, 18.300%, 04/25/23		18
	15		Series 1993-122, Class M, 6.500%, 07/25/23		16
	6		Series 1993-165, Class SD, IF, 12.826%, 09/25/23		8
	25		Series 1993-178, Class PK, 6.500%, 09/25/23		28
	414		Series 1993-183, Class KA, 6.500%, 10/25/23		460
	181		Series 1993-189, Class PL, 6.500%, 10/25/23		206
	–	(h)	Series 1993-225, Class SG, HB, IF, 26.819%, 12/25/13		—	(h)
	40		Series 1993-247, Class SA, HB, IF, 26.773%, 12/25/23		71
	46		Series 1993-250, Class Z, 7.000%, 12/25/23		48
	3		Series 1994-9, Class E, PO, 11/25/23		2
	105		Series 1996-14, Class SE, IF, IO, 8.200%, 08/25/23		18
	4		Series 1996-27, Class FC, VAR, 0.666%, 03/25/17		4
	12		Series 1996-59, Class J, 6.500%, 08/25/22		13
	58		Series 1997-20, Class IB, IO, VAR, 1.840%, 03/25/27		3
	54		Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		2
	27		Series 1997-27, Class J, 7.500%, 04/18/27		30
	31		Series 1997-29, Class J, 7.500%, 04/20/27		37
	66		Series 1997-39, Class PD, 7.500%, 05/20/27		78
	21		Series 1997-81, Class PI, IO, 7.000%, 12/18/27		4
	2		Series 1998-4, Class C, PO, 04/25/23		2
	23		Series 1998-36, Class ZB, 6.000%, 07/18/28		26
	243		Series 1998-43, Class EA, PO, 04/25/23		237
	138		Series 2000-2, Class ZE, 7.500%, 02/25/30		161
	50		Series 2001-4, Class PC, 7.000%, 03/25/21		55
	–	(h)	Series 2001-5, Class OW, 6.000%, 03/25/16		—	(h)
	95		Series 2001-33, Class ID, IO, 6.000%, 07/25/31		20
	116		Series 2001-36, Class DE, 7.000%, 08/25/31		135
	26		Series 2001-44, Class PD, 7.000%, 09/25/31		30
	192		Series 2001-48, Class Z, 6.500%, 09/25/21		215
	25		Series 2001-49, Class Z, 6.500%, 09/25/31		28
	50		Series 2001-71, Class MB, 6.000%, 12/25/16		53
	60		Series 2001-71, Class QE, 6.000%, 12/25/16		63
	365		Series 2001-74, Class MB, 6.000%, 12/25/16		385
	19		Series 2001-81, Class LO, PO, 01/25/32		18
	56		Series 2002-1, Class HC, 6.500%, 02/25/22		63
	25		Series 2002-1, Class SA, HB, IF, 24.648%, 02/25/32		44
	30		Series 2002-2, Class UC, 6.000%, 02/25/17		31
	57		Series 2002-3, Class OG, 6.000%, 02/25/17		60
	69		Series 2002-21, Class PE, 6.500%, 04/25/32		76
	109		Series 2002-24, Class AJ, 6.000%, 04/25/17		115
	70		Series 2002-28, Class PK, 6.500%, 05/25/32		80
	76		Series 2002-37, Class Z, 6.500%, 06/25/32		86
	150		Series 2002-94, Class BK, 5.500%, 01/25/18		159
	202		Series 2003-22, Class UD, 4.000%, 04/25/33		214
	162		Series 2003-34, Class GB, 6.000%, 03/25/33		183
	304		Series 2003-34, Class GE, 6.000%, 05/25/33		345
	16		Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		3
	285		Series 2003-47, Class PE, 5.750%, 06/25/33		315
	37		Series 2003-52, Class SX, HB, IF, 22.452%, 10/25/31		64
	35		Series 2003-64, Class SX, IF, 13.330%, 07/25/33		42

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	133		Series 2003-71, Class DS, IF, 7.243%, 08/25/33		136
	141		Series 2003-80, Class SY, IF, IO, 7.484%, 06/25/23		13
	133		Series 2003-83, Class PG, 5.000%, 06/25/23		142
	28		Series 2003-91, Class SD, IF, 12.223%, 09/25/33		35
	243		Series 2003-116, Class SB, IF, IO, 7.434%, 11/25/33		48
	–	(h)	Series 2003-128, Class KE, 4.500%, 01/25/14		—	(h)
	282		Series 2003-128, Class NG, 4.000%, 01/25/19		298
	32		Series 2003-130, Class SX, IF, 11.271%, 01/25/34		39
	683		Series 2004-21, Class AE, 4.000%, 04/25/19		721
	293		Series 2004-25, Class PC, 5.500%, 01/25/34		314
	174		Series 2004-25, Class SA, IF, 19.069%, 04/25/34		243
	195		Series 2004-36, Class PC, 5.500%, 02/25/34		210
	156		Series 2004-36, Class SA, IF, 19.069%, 05/25/34		216
	104		Series 2004-46, Class SK, IF, 16.044%, 05/25/34		135
	838		Series 2004-50, Class VZ, 5.500%, 07/25/34		920
	84		Series 2004-61, Class SH, HB, IF, 23.324%, 11/25/32		137
	78		Series 2004-74, Class SW, IF, 15.165%, 11/25/31		110
	124		Series 2004-76, Class CL, 4.000%, 10/25/19		131
	149		Series 2005-45, Class DC, HB, IF, 23.701%, 06/25/35		229
	46		Series 2005-52, Class PA, 6.500%, 06/25/35		50
	123		Series 2005-56, Class S, IF, IO, 6.544%, 07/25/35		25
	233		Series 2005-56, Class TP, IF, 17.652%, 08/25/33		307
	746		Series 2005-68, Class PG, 5.500%, 08/25/35		824
	293		Series 2005-73, Class PS, IF, 16.285%, 08/25/35		383
	135		Series 2005-74, Class CS, IF, 19.564%, 05/25/35		189
	262		Series 2005-106, Class US, HB, IF, 23.958%, 11/25/35		415
	892		Series 2005-121, Class DX, 5.500%, 01/25/26		992
	302		Series 2006-27, Class OH, PO, 04/25/36		293
	87		Series 2006-44, Class P, PO, 12/25/33		80
	540		Series 2006-56, Class FC, VAR, 0.456%, 07/25/36		539
	157		Series 2006-59, Class QO, PO, 01/25/33		156
	91		Series 2006-65, Class QO, PO, 07/25/36		85
	136		Series 2006-72, Class GO, PO, 08/25/36		125
	292		Series 2006-77, Class PC, 6.500%, 08/25/36		331
	111		Series 2006-79, Class DO, PO, 08/25/36		103
	199		Series 2006-110, Class PO, PO, 11/25/36		184
	425		Series 2006-124, Class HB, VAR, 5.968%, 11/25/36		440
	159		Series 2007-14, Class ES, IF, IO, 6.274%, 03/25/37		22
	112		Series 2007-79, Class SB, HB, IF, 23.408%, 08/25/37		171
	500		Series 2007-81, Class GE, 6.000%, 08/25/37		560
	292		Series 2007-88, Class VI, IF, IO, 6.374%, 09/25/37		43
	741		Series 2007-91, Class ES, IF, IO, 6.294%, 10/25/37		112
	163		Series 2007-106, Class A7, VAR, 6.007%, 10/25/37		182
	166		Series 2007-116, Class HI, IO, VAR, 1.555%, 01/25/38		11
	96		Series 2008-10, Class XI, IF, IO, 6.064%, 03/25/38		14
	75		Series 2008-16, Class IS, IF, IO, 6.034%, 03/25/38		12
	124		Series 2008-28, Class QS, HB, IF, 20.202%, 04/25/38		167
	139		Series 2008-46, Class HI, IO, VAR, 1.765%, 06/25/38		11
	159		Series 2009-69, Class PO, PO, 09/25/39		149
	758		Series 2009-71, Class BC, 4.500%, 09/25/24		824
	277		Series 2009-103, Class MB, VAR, 2.666%, 12/25/39		286
	520		Series 2010-71, Class HJ, 5.500%, 07/25/40		580
	966		Series 2010-133, Class A, 5.500%, 05/25/38		1,044

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Agency CMO — Continued
	1,000		Series 2011-44, Class EB, 3.000%, 05/25/26		990
	641		Series 2011-118, Class MT, 7.000%, 11/25/41		748
	624		Series 2011-118, Class NT, 7.000%, 11/25/41		726
	802		Series 2011-149, Class EF, VAR, 0.666%, 07/25/41		807
	379		Series 2012-47, Class HF, VAR, 0.566%, 05/25/27		379
	470		Series 2012-108, Class F, VAR, 0.666%, 10/25/42		469
	953		Series 2012-112, Class FD, VAR, 0.666%, 10/25/42		952
	495		Series 2013-101, Class DO, PO, 10/25/43		363
	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		2
	11		Series G-35, Class M, 8.750%, 10/25/21		12
	43		Series G92-35, Class E, 7.500%, 07/25/22		48
	3		Series G92-42, Class Z, 7.000%, 07/25/22		3
	33		Series G92-44, Class ZQ, 8.000%, 07/25/22		36
	40		Series G92-54, Class ZQ, 7.500%, 09/25/22		45
	10		Series G93-5, Class Z, 6.500%, 02/25/23		11
	13		Series G95-1, Class C, 8.800%, 01/25/25		16
			Federal National Mortgage Association REMIC Trust,
	170		Series 2003-W1, Class 1A1, VAR, 5.970%, 12/25/42		194
	44		Series 2003-W4, Class 2A, VAR, 6.412%, 10/25/42		46
	51		Series 2007-W7, Class 1A4, HB, IF, 38.184%, 07/25/37		94
			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		1
	107		Series 300, Class 1, PO, 09/01/24		104
	19		Series 329, Class 1, PO, 01/01/33		17
			Federal National Mortgage Association Trust,
	100		Series 2004-W2, Class 2A2, 7.000%, 02/25/44		117
	302		Series 2005-W3, Class 2AF, VAR, 0.386%, 03/25/45		302
			Government National Mortgage Association,
	217		Series 1994-7, Class PQ, 6.500%, 10/16/24		253
	14		Series 1995-7, Class CQ, 7.500%, 09/16/25		16
	22		Series 1998-26, Class K, 7.500%, 09/17/25		26
	312		Series 1999-10, Class ZC, 6.500%, 04/20/29		356
	23		Series 1999-30, Class S, IF, IO, 8.432%, 08/16/29		5
	34		Series 1999-41, Class Z, 8.000%, 11/16/29		41
	30		Series 1999-44, Class PC, 7.500%, 12/20/29		36
	14		Series 2000-9, Class Z, 8.000%, 06/20/30		17
	290		Series 2000-9, Class ZJ, 8.500%, 02/16/30		353
	29		Series 2000-16, Class ZN, 7.500%, 02/16/30		30
	81		Series 2001-7, Class PK, 6.500%, 03/20/31		92
	5		Series 2001-32, Class WA, IF, 19.705%, 07/20/31		8
	190		Series 2001-64, Class MQ, 6.500%, 12/20/31		222
	31		Series 2002-7, Class PG, 6.500%, 01/20/32		36
	41		Series 2002-31, Class S, IF, IO, 8.533%, 01/16/31		11
	118		Series 2002-40, Class UK, 6.500%, 06/20/32		136
	111		Series 2002-47, Class PG, 6.500%, 07/16/32		129
	144		Series 2002-47, Class PY, 6.000%, 07/20/32		164
	138		Series 2002-47, Class ZA, 6.500%, 07/20/32		160
	12		Series 2002-51, Class SG, HB, IF, 31.772%, 04/20/31		25
	23		Series 2003-24, Class PO, PO, 03/16/33		21

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	304	Series 2003-40, Class TJ, 6.500%, 03/20/33		356
	119	Series 2003-52, Class AP, PO, 06/16/33		110
	28	Series 2004-28, Class S, IF, 19.202%, 04/16/34		39
	14	Series 2004-68, Class PO, PO, 05/20/31		14
	77	Series 2004-71, Class SB, HB, IF, 28.639%, 09/20/34		135
	49	Series 2004-73, Class AE, IF, 14.510%, 08/17/34		62
	412	Series 2004-90, Class SI, IF, IO, 5.932%, 10/20/34		63
	130	Series 2005-68, Class DP, IF, 16.030%, 06/17/35		176
	816	Series 2005-68, Class KI, IF, IO, 6.132%, 09/20/35		119
	97	Series 2006-59, Class SD, IF, IO, 6.532%, 10/20/36		17
	319	Series 2007-17, Class JI, IF, IO, 6.643%, 04/16/37		59
	398	Series 2007-27, Class SA, IF, IO, 6.032%, 05/20/37		59
	638	Series 2007-40, Class SB, IF, IO, 6.582%, 07/20/37		115
	381	Series 2007-45, Class QA, IF, IO, 6.472%, 07/20/37		67
	399	Series 2007-50, Class AI, IF, IO, 6.607%, 08/20/37		73
	92	Series 2007-53, Class ES, IF, IO, 6.382%, 09/20/37		16
	100	Series 2007-53, Class SW, IF, 19.701%, 09/20/37		136
	218	Series 2007-57, Class QA, IF, IO, 6.332%, 10/20/37		37
	129	Series 2007-71, Class SB, IF, IO, 6.532%, 07/20/36		15
	209	Series 2007-72, Class US, IF, IO, 6.382%, 11/20/37		36
	208	Series 2007-76, Class SA, IF, IO, 6.362%, 11/20/37		35
	59	Series 2008-25, Class SB, IF, IO, 6.732%, 03/20/38		9
	118	Series 2008-33, Class XS, IF, IO, 7.532%, 04/16/38		19
	305	Series 2008-40, Class SA, IF, IO, 6.233%, 05/16/38		54
	500	Series 2008-50, Class KB, 6.000%, 06/20/38		564
	291	Series 2008-55, Class SA, IF, IO, 6.032%, 06/20/38		40
	282	Series 2008-93, Class AS, IF, IO, 5.532%, 12/20/38		42
	118	Series 2009-6, Class SA, IF, IO, 5.933%, 02/16/39		17
	126	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		27
	449	Series 2009-22, Class SA, IF, IO, 6.102%, 04/20/39		60
	412	Series 2009-31, Class ST, IF, IO, 6.182%, 03/20/39		55
	412	Series 2009-31, Class TS, IF, IO, 6.132%, 03/20/39		54
	307	Series 2009-79, Class OK, PO, 11/16/37		279
	623	Series 2009-106, Class ST, IF, IO, 5.832%, 02/20/38		79
	179	Series 2010-14, Class AO, PO, 12/20/32		175
	202	Series 2010-130, Class CP, 7.000%, 10/16/40		238
	677	Series 2011-137, Class WA, VAR, 5.523%, 07/20/40		745
	495	Series 2012-H21, Class DF, VAR, 0.826%, 05/20/61		496
	461	Series 2012-H24, Class FA, VAR, 0.626%, 03/20/60		462
	490	Series 2012-H26, Class MA, VAR, 0.726%, 07/20/62		489
	926	Series 2013-91, Class WA, VAR, 4.519%, 04/20/43		1,012
	446	Series 2013-H03, Class FA, VAR, 0.476%, 08/20/60		445
	498	Series 2013-H07, Class JA, 1.750%, 03/20/63		490
	141	NCUA Guaranteed Notes Trust, Series 2010-R3, Class 3A, 2.400%, 12/08/20		143
		Vendee Mortgage Trust,
	619	Series 1993-1, Class ZB, 7.250%, 02/15/23		724
	268	Series 1994-1, Class 1, VAR, 5.616%, 02/15/24		298
	381	Series 1996-1, Class 1Z, 6.750%, 02/15/26		432
	130	Series 1996-2, Class 1Z, 6.750%, 06/15/26		152
	512	Series 1997-1, Class 2Z, 7.500%, 02/15/27		588

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Agency CMO — Continued
	127	Series 1998-1, Class 2E, 7.000%, 03/15/28		147
				64,328
		Non-Agency CMO — 4.2%
		Alternative Loan Trust,
	144	Series 2002-8, Class A4, 6.500%, 07/25/32		148
	1,758	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		1,735
	70	Series 2004-18CB, Class 2A4, 5.700%, 09/25/34		71
	385	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		351
	400	American General Mortgage Loan Trust, Series 2009-1, Class A7, VAR, 5.750%, 09/25/48 (e)		406
		ASG Resecuritization Trust,
	134	Series 2009-1, Class A60, VAR, 2.194%, 06/26/37 (e)		132
	79	Series 2009-2, Class A55, VAR, 4.934%, 05/24/36 (e)		81
	354	Series 2009-3, Class A65, VAR, 2.287%, 03/26/37 (e)		354
		Banc of America Alternative Loan Trust,
	102	Series 2003-7, Class 2A4, 5.000%, 09/25/18		103
	58	Series 2003-9, Class 1CB2, 5.500%, 11/25/33		59
	40	Series 2003-11, Class PO, PO, 01/25/34		30
	37	Banc of America Funding Trust, Series 2004-1, Class PO, PO, 03/25/34		33
		Banc of America Mortgage Trust,
	20	Series 2003-8, Class APO, PO, 11/25/33		17
	25	Series 2004-1, Class APO, PO, 02/25/34		23
	97	Series 2004-3, Class 1A26, 5.500%, 04/25/34		99
	28	Series 2004-6, Class APO, PO, 07/25/34		25
		BCAP LLC Trust,
	380	Series 2010-RR7, Class 2A1, VAR, 2.280%, 07/26/45 (e)		368
	370	Series 2011-RR10, Class 2A1, VAR, 1.022%, 09/26/37 (e)		334
	57	Series 2011-RR5, Class 14A3, VAR, 2.667%, 07/26/36 (e)		57
	273	Series 2012-RR2, Class 1A1, VAR, 0.336%, 08/26/36 (e)		264
	124	Bear Stearns ARM Trust, Series 2005-5, Class A1, VAR, 2.210%, 08/25/35		125
		CHL Mortgage Pass-Through Trust,
	154	Series 2003-26, Class 1A6, 3.500%, 08/25/33		153
	18	Series 2003-J13, Class PO, PO, 01/25/34		17
	33	Series 2003-J7, Class 4A3, IF, 9.558%, 08/25/18		34
	96	Series 2004-5, Class 1A4, 5.500%, 06/25/34		100
	36	Series 2004-HYB3, Class 2A, VAR, 2.567%, 06/20/34		33
	339	Series 2005-22, Class 2A1, VAR, 2.588%, 11/25/35		277
		Citigroup Mortgage Loan Trust,
	170	Series 2008-AR4, Class 1A1A, VAR, 2.782%, 11/25/38 (e)		172
	588	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		593
	323	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		332
		Citigroup Mortgage Loan Trust, Inc.,
	32	Series 2003-UP3, Class A3, 7.000%, 09/25/33		33
	33	Series 2003-UST1, Class A1, 5.500%, 12/25/18		35
	4	Series 2003-UST1, Class PO1, PO, 12/25/18		4
	5	Series 2003-UST1, Class PO3, PO, 12/25/18		5
	64	Credit Suisse First Boston Mortgage Securities Corp., Series 2003-23, Class 2A5, 5.000%, 10/25/18		65
		CSMC,
	804	Series 2010-11R, Class A6, VAR, 1.179%, 06/28/47 (e)		768
	305	Series 2011-7R, Class A1, VAR, 1.414%, 08/28/47 (e)		304
	204	Series 2011-9R, Class A1, VAR, 2.164%, 03/27/46 (e)		204
	124	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		126
	180	Deutsche Alt-A Securities, Inc., Mortgage Loan Trust, Series 2005-3, Class 1A1, VAR, 5.332%, 06/25/20		184
	22	Deutsche Mortgage Securities, Inc. Mortgage Loan Trust, Series 2004-1, Class 2APO, PO, 10/25/18		21
	132	FDIC Trust, Series 2013-N1, Class A, 4.500%, 10/25/18 (e)		132

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
			Non-Agency CMO — Continued
			First Horizon Mortgage Pass-Through Trust,
	163		Series 2004-AR7, Class 2A2, VAR, 2.560%, 02/25/35		163
	181		Series 2005-AR1, Class 2A2, VAR, 2.654%, 04/25/35		181
	359		GSR Mortgage Loan Trust, Series 2006-1F, Class 1A3, 5.500%, 02/25/36		346
	54		Impac Secured Assets CMN Owner Trust, Series 2002-2, Class APO, PO, 04/25/33		33
	277		IndyMac INDX Mortgage Loan Trust, Series 2005-AR11, Class A7, IO, VAR, 0.000%, 08/25/35		—	(h)
			JP Morgan Mortgage Trust,
	81		Series 2006-A2, Class 4A1, VAR, 2.734%, 08/25/34		81
	284		Series 2006-A2, Class 5A3, VAR, 2.551%, 11/25/33		286
			MASTR Adjustable Rate Mortgages Trust,
	48		Series 2004-3, Class 4A2, VAR, 2.356%, 04/25/34		47
	237		Series 2004-13, Class 2A1, VAR, 2.644%, 04/21/34		243
			MASTR Alternative Loan Trust,
	173		Series 2003-9, Class 8A1, 6.000%, 01/25/34		177
	444		Series 2004-4, Class 10A1, 5.000%, 05/25/24		461
	30		Series 2004-7, Class 30PO, PO, 08/25/34		24
	35		Series 2004-10, Class 1A1, 4.500%, 09/25/19		35
	157		Series 2005-6, Class 3A1, 5.500%, 11/25/20		154
			MASTR Asset Securitization Trust,
	82		Series 2003-2, Class 1A1, 5.000%, 03/25/18		83
	10		Series 2004-8, Class PO, PO, 08/25/19		9
	95		MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		76
			Merrill Lynch Mortgage Investors Trust,
	97		Series 2003-E, Class A1, VAR, 0.786%, 10/25/28		93
	155		Series 2004-A, Class A1, VAR, 0.626%, 04/25/29		145
	56		MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.486%, 02/25/35		53
	72		NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		74
			Nomura Asset Acceptance Corp. Alternative Loan Trust,
	49		Series 2003-A1, Class A1, 5.500%, 05/25/33		50
	24		Series 2003-A1, Class A2, 6.000%, 05/25/33		24
	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,
	34		Series 2002-QS16, Class A3, IF, 16.276%, 10/25/17		36
	177		Series 2002-QS8, Class A5, 6.250%, 06/25/17		180
	53		Series 2003-QS3, Class A2, IF, 16.135%, 02/25/18		57
	211		Series 2003-QS9, Class A3, IF, IO, 7.384%, 05/25/18		24
	209		Series 2004-QS3, Class CB, 5.000%, 03/25/19		217
	132		Reperforming Loan REMIC Trust, Series 2005-R1, Class 2APO, PO, 03/25/35 (e)		119
	17		Residential Asset Securitization Trust, Series 2003-A14, Class A1, 4.750%, 02/25/19		18
			Salomon Brothers Mortgage Securities VII, Inc.,
	84		Series 2003-HYB1, Class A, VAR, 2.620%, 09/25/33		84
	7		Series 2003-UP2, Class PO1, PO, 12/25/18		7
			Springleaf Mortgage Loan Trust,
	173		Series 2011-1A, Class A1, VAR, 4.050%, 01/25/58 (e)		180
	336		Series 2012-2A, Class A, VAR, 2.220%, 10/25/57 (e)		342
	254		Series 2012-3A, Class A, VAR, 1.570%, 12/25/59 (e)		254
	103		Series 2012-3A, Class M1, VAR, 2.660%, 12/25/59 (e)		102
	162		Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		160
	320		Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		319
	125		Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		123
	238		Series 2013-3A, Class A, VAR, 1.870%, 09/25/57 (e)		238

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Collateralized Mortgage Obligations — Continued
		Non-Agency CMO — Continued
	306	Series 2013-3A, Class M1, VAR, 3.790%, 09/25/57 (e)		306
	125	Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-33H, Class 1A1, 5.500%, 10/25/33		128
	88	Structured Asset Securities Corp. Trust, Series 2005-6, Class 4A1, 5.000%, 05/25/35		88
	195	Vericrest Opportunity Loan Transferee, Series 2013-NPL4, Class A1, SUB, 4.000%, 11/25/53		195
		WaMu Mortgage Pass-Through Certificates Trust,
	43	Series 2002-S8, Class 2A7, 5.250%, 01/25/18		44
	172	Series 2003-AR5, Class A7, VAR, 2.454%, 06/25/33		170
	87	Series 2004-AR3, Class A2, VAR, 2.451%, 06/25/34		88
	309	Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-4, Class CB7, 5.500%, 06/25/35		286
		Washington Mutual MSC Mortgage Pass-Through Certificates,
	37	Series 2003-MS2, Class 1A1, 5.750%, 02/25/33		39
	10	Series 2003-MS7, Class P, PO, 03/25/33		7
	29	Wedgewood Real Estate Trust, Series 2013-1A, Class A, VAR, 3.967%, 07/25/43 (e) (i)		29
	292	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		293
		Wells Fargo Mortgage-Backed Securities Trust,
	67	Series 2003-K, Class 1A1, VAR, 2.492%, 11/25/33		68
	12	Series 2004-BB, Class A4, VAR, 2.610%, 01/25/35		11
	107	Series 2004-EE, Class 3A1, VAR, 2.711%, 12/25/34		108
	352	Series 2004-P, Class 2A1, VAR, 2.613%, 09/25/34		356
				15,934
		Total Collateralized Mortgage Obligations (Cost $75,714)		80,262
	Commercial Mortgage-Backed Securities — 1.9%
	430	A10 Securitization LLC, Series 2013-2, Class A, 2.620%, 11/15/27 (e)		430
		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
	144	Series 2005-6, Class ASB, VAR, 5.357%, 09/10/47		145
	200	BB-UBS Trust, Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		191
		Bear Stearns Commercial Mortgage Securities Trust,
	77	Series 2005-PWR9, Class AAB, 4.804%, 09/11/42		78
	360	Series 2006-PW11, Class A4, VAR, 5.611%, 03/11/39		390
	15,204	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.234%, 12/11/49 (e)		146
	500	COMM Mortgage Trust, Series 2012-9W57, Class A, 2.365%, 02/10/29 (e)		514
	99	Commercial Mortgage Pass-Through Certificates, Series 2012-MVP, Class A, VAR, 2.107%, 11/17/26 (e)		99
	236	DBRR Trust, Series 2013-EZ2, Class A, VAR, 0.853%, 02/25/45 (e)		237
	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		316
	50	LB-UBS Commercial Mortgage Trust, Series 2006-C1, Class A4, 5.156%, 02/15/31		54
	105	Merrill Lynch Mortgage Trust, Series 2005-MCP1, Class ASB, VAR, 4.674%, 06/12/43		106
		Morgan Stanley Re-REMIC Trust,
	316	Series 2010-HQ4B, Class A7A, 4.970%, 04/16/40 (e)		319
	55	Series 2011-IO, Class A, 2.500%, 03/23/51 (e)		55
	455	Series 2012-XA, Class A, 2.000%, 07/27/49 (e)		458
	701	NCUA Guaranteed Notes Trust, Series 2010-C1, Class APT, 2.650%, 10/29/20		725

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Commercial Mortgage-Backed Securities — Continued
	112	NorthStar Mortgage Trust, Series 2012-1, Class A, VAR, 1.367%, 08/25/29 (e)		112
		N-Star Real Estate CDO Ltd., (Cayman Islands),
	343	Series 2013-1A, Class A, VAR, 2.016%, 08/25/29 (e)		343
	250	Series 2013-1A, Class B, VAR, 5.170%, 08/25/29 (e)		249
	342	ORES NPL LLC, Series 2013-LV2, Class A, 3.081%, 09/25/25 (e)		342
	521	TIAA Seasoned Commercial Mortgage Trust, Series 2007-C4, Class A3, VAR, 5.570%, 08/15/39		537
	116	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		112
	104	UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class A4, 3.525%, 05/10/63		104
	215	VFC LLC, (Cayman Islands), Series 2013-1, Class A, 3.130%, 03/20/26 (e)		216
	300	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		299
		Total Commercial Mortgage-Backed Securities (Cost $7,147)		7,345
	Corporate Bonds — 17.7%
		Consumer Discretionary — 0.9%
		Auto Components — 0.0% (g)
	99	Johnson Controls, Inc., 3.750%, 12/01/21		100
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	150	1.650%, 04/10/15 (e)		151
	150	1.875%, 01/11/18 (e)		149
	150	2.625%, 09/15/16 (e)		156
				456
		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		26
	25	5.750%, 04/15/20		28
	135	8.875%, 05/15/19		173
	100	Comcast Corp., 5.900%, 03/15/16		111
	16	COX Communications, Inc., 5.450%, 12/15/14		17
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	150	4.600%, 02/15/21		154
	353	5.000%, 03/01/21		368
	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		127
		Thomson Reuters Corp., (Canada),
	105	3.950%, 09/30/21		106
	60	4.700%, 10/15/19		66
		Time Warner Cable, Inc.,
	57	5.850%, 05/01/17		63
	50	6.750%, 07/01/18		56
	100	8.250%, 02/14/14		101
	150	8.250%, 04/01/19		176
	35	8.750%, 02/14/19		42
		Viacom, Inc.,
	33	1.250%, 02/27/15		33
	50	3.125%, 06/15/22		47
	11	3.250%, 03/15/23		10
	43	3.875%, 12/15/21		43
	50	4.500%, 03/01/21		53
	42	Walt Disney Co. (The), 0.450%, 12/01/15		42
				2,045
		Multiline Retail — 0.2%
	40	Kohl’s Corp., 6.250%, 12/15/17		46
		Macy’s Retail Holdings, Inc.,
	37	2.875%, 02/15/23		34
	49	4.375%, 09/01/23		49
	25	7.450%, 07/15/17		30
	35	Nordstrom, Inc., 4.000%, 10/15/21		37
	400	Target Corp., 6.000%, 01/15/18		469
				665
		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		3,528
		Consumer Staples — 0.7%
		Beverages — 0.3%
	75	Anheuser-Busch Cos. LLC, 5.500%, 01/15/18		86

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Beverages — Continued
	200	Anheuser-Busch InBev Worldwide, Inc., 7.750%, 01/15/19		252
		Coca-Cola Co. (The),
	100	3.625%, 03/15/14		101
	50	4.875%, 03/15/19		57
	70	Diageo Capital plc, (United Kingdom), 4.828%, 07/15/20		78
	30	Diageo Finance B.V., (Netherlands), 5.300%, 10/28/15		33
	85	FBG Finance Pty Ltd., (Australia), 5.125%, 06/15/15 (e)		91
	30	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		30
		PepsiCo, Inc.,
	33	0.800%, 08/25/14		33
	180	1.250%, 08/13/17		179
	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
				1,012
		Food & Staples Retailing — 0.1%
	54	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		58
		Kroger Co. (The),
	50	2.200%, 01/15/17		51
	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		168
	14	Bunge N.A. Finance LP, 5.900%, 04/01/17		15
		Cargill, Inc.,
	100	3.300%, 03/01/22 (e)		97
	106	4.307%, 05/14/21 (e)		112
	30	ConAgra Foods, Inc., 2.100%, 03/15/18		30
		Kraft Foods Group, Inc.,
	52	5.375%, 02/10/20		59
	332	6.125%, 08/23/18		392
		Mondelez International, Inc.,
	48	5.375%, 02/10/20		54
	118	6.125%, 02/01/18		139
				1,066
		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		2,551
		Energy — 1.2%
		Energy Equipment & Services — 0.1%
	107	Halliburton Co., 3.500%, 08/01/23		105
	15	National Oilwell Varco, Inc., 1.350%, 12/01/17		15
	12	Noble Holding International Ltd., (Cayman Islands), 3.950%, 03/15/22		12
	47	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		47
		Transocean, Inc., (Cayman Islands),
	39	3.800%, 10/15/22		37
	35	6.375%, 12/15/21		40
	100	6.500%, 11/15/20		113
	33	Weatherford International Ltd., (Bermuda), 4.500%, 04/15/22		33
				402
		Oil, Gas & Consumable Fuels — 1.1%
		Apache Corp.,
	58	2.625%, 01/15/23		54
	57	3.250%, 04/15/22		56
	25	6.900%, 09/15/18		31
		BP Capital Markets plc, (United Kingdom),
	20	1.375%, 11/06/17		20
	106	2.750%, 05/10/23		98
	100	4.742%, 03/11/21		110
	150	Canadian Natural Resources Ltd., (Canada), 5.900%, 02/01/18		172
	21	Cenovus Energy, Inc., (Canada), 3.000%, 08/15/22		20
	39	Chevron Corp., 2.427%, 06/24/20		39
	150	ConocoPhillips, 5.750%, 02/01/19		177
	190	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		215
	150	Devon Energy Corp., 1.875%, 05/15/17		152
	80	Encana Corp., (Canada), 6.500%, 05/15/19		95
	200	Eni S.p.A., (Italy), 4.150%, 10/01/20 (e)		205

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Oil, Gas & Consumable Fuels — Continued
		EOG Resources, Inc.,
	23	2.625%, 03/15/23		21
	100	4.100%, 02/01/21		106
	50	Magellan Midstream Partners LP, 6.550%, 07/15/19		60
		Marathon Oil Corp.,
	228	5.900%, 03/15/18		262
	175	6.000%, 10/01/17		200
	35	Occidental Petroleum Corp., 1.750%, 02/15/17		36
	40	PC Financial Partnership, 5.000%, 11/15/14		42
	84	Petrobras Global Finance B.V., (Netherlands), 4.375%, 05/20/23		76
		Petrobras International Finance Co., (Cayman Islands),
	90	5.375%, 01/27/21		90
	50	7.875%, 03/15/19		58
	97	Petro-Canada, (Canada), 6.050%, 05/15/18		114
	43	Phillips 66, 2.950%, 05/01/17		45
	200	Sinopec Group Overseas Development Ltd., (United Kingdom), 4.375%, 10/17/23 (e)		199
		Spectra Energy Capital LLC,
	100	5.500%, 03/01/14		101
	150	5.650%, 03/01/20		164
	30	5.668%, 08/15/14		31
	140	6.200%, 04/15/18		160
	50	8.000%, 10/01/19		61
	79	Spectra Energy Partners LP, 2.950%, 09/25/18		81
		Statoil ASA, (Norway),
	143	2.650%, 01/15/24		131
	42	2.900%, 11/08/20		42
	67	3.125%, 08/17/17		71
	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		76
	175	Total Capital S.A., (France), 2.300%, 03/15/16		181
		TransCanada PipeLines Ltd., (Canada),
	100	6.500%, 08/15/18		119
	30	7.125%, 01/15/19		37
				4,221
		Total Energy		4,623
		Financials — 10.2%
		Capital Markets — 2.7%
	120	Ameriprise Financial, Inc., 4.000%, 10/15/23		121
		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		82
		BlackRock, Inc.,
	325	3.500%, 12/10/14		335
	326	5.000%, 12/10/19		374
	150	Blackstone Holdings Finance Co. LLC, 5.875%, 03/15/21 (e)		167
	40	Charles Schwab Corp. (The), 3.225%, 09/01/22		39
		Goldman Sachs Group, Inc. (The),
	100	1.600%, 11/23/15		101
	100	3.300%, 05/03/15		104
	255	3.625%, 02/07/16		269
	66	3.700%, 08/01/15		69
	68	5.375%, 03/15/20		76
	300	5.500%, 11/15/14		314
	80	5.750%, 01/24/22		90
	1,100	5.950%, 01/18/18		1,261
	250	7.500%, 02/15/19		308
	200	ING Bank N.V., (Netherlands), 3.750%, 03/07/17 (e)		213
	71	Invesco Finance plc, (United Kingdom), 4.000%, 01/30/24		71
		Jefferies Group LLC,
	111	3.875%, 11/09/15		115
	150	5.125%, 04/13/18		163
	125	8.500%, 07/15/19		153
		Macquarie Bank Ltd., (Australia),
	93	2.000%, 08/15/16 (e)		94
	263	5.000%, 02/22/17 (e)		288
		Macquarie Group Ltd., (Australia),
	150	6.000%, 01/14/20 (e)		166
	100	7.300%, 08/01/14 (e)		104
	40	7.625%, 08/13/19 (e)		49
		Merrill Lynch & Co., Inc.,
	200	Series C, 5.000%, 01/15/15		209

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Capital Markets — Continued
	157	5.450%, 07/15/14		162
	814	6.400%, 08/28/17		946
	266	6.875%, 04/25/18		318
		Morgan Stanley,
	104	4.000%, 07/24/15		109
	195	4.200%, 11/20/14		202
	93	5.000%, 11/24/25		93
	166	5.500%, 07/24/20		187
	100	5.500%, 07/28/21		112
	450	5.625%, 09/23/19		517
	100	5.750%, 01/25/21		114
	250	6.000%, 05/13/14		256
	100	6.625%, 04/01/18		118
	100	7.300%, 05/13/19		123
		Nomura Holdings, Inc., (Japan),
	85	4.125%, 01/19/16		90
	84	6.700%, 03/04/20		96
		State Street Corp.,
	36	3.100%, 05/15/23		34
	192	3.700%, 11/20/23		191
		UBS AG, (Switzerland),
	500	3.875%, 01/15/15		518
	100	5.750%, 04/25/18		117
	100	5.875%, 12/20/17		116
				10,091
		Commercial Banks — 3.0%
	200	ABN AMRO Bank N.V., (Netherlands), 2.500%, 10/30/18 (e)		201
	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)		261
		Bank of Montreal, (Canada),
	250	1.300%, 10/31/14 (e)		252
	85	2.550%, 11/06/22		79
		Bank of Nova Scotia, (Canada),
	121	1.650%, 10/29/15 (e)		124
	175	2.550%, 01/12/17		182
	123	3.400%, 01/22/15		127
	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		102
	200	5.200%, 07/10/14		206
	250	6.050%, 12/04/17 (e)		282
		BB&T Corp.,
	125	3.950%, 04/29/16		134
	100	4.900%, 06/30/17		111
	150	5.700%, 04/30/14		153
	300	Capital One Bank USA N.A., 3.375%, 02/15/23		282
	55	Comerica, Inc., 3.000%, 09/16/15		57
	250	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		259
		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		119
	350	Fifth Third Bancorp, 5.450%, 01/15/17		387
		HSBC Holdings plc, (United Kingdom),
	196	4.000%, 03/30/22		202
	300	4.875%, 01/14/22		326
	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
	300	Nordea Bank AB, (Sweden), 3.125%, 03/20/17 (e)		316
		PNC Funding Corp.,
	133	4.375%, 08/11/20		143
	265	5.125%, 02/08/20		297
	110	5.250%, 11/15/15		119
	115	5.625%, 02/01/17		128
		Royal Bank of Canada, (Canada),
	239	2.000%, 10/01/18		242
	125	2.200%, 07/27/18		126
	200	2.300%, 07/20/16		207
	250	Stadshypotek AB, (Sweden), 1.875%, 10/02/19 (e)		245
	200	Standard Chartered plc, (United Kingdom), 5.200%, 01/26/24 (e)		203
		Toronto-Dominion Bank (The), (Canada),
	200	1.500%, 03/13/17 (e)		203
	235	2.200%, 07/29/15 (e)		242
		U.S. Bancorp,
	150	2.450%, 07/27/15		155
	208	2.875%, 11/20/14		213

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Commercial Banks — Continued
	250	Wachovia Bank N.A., 6.000%, 11/15/17		291
	850	Wachovia Corp., 5.750%, 02/01/18		995
		Wells Fargo & Co.,
	237	4.480%, 01/16/24 (e)		235
	415	5.625%, 12/11/17		481
	500	SUB, 3.676%, 06/15/16		535
	315	Wells Fargo Bank N.A., 4.750%, 02/09/15		330
	285	Westpac Banking Corp., (Australia), 4.875%, 11/19/19		322
				11,387
		Consumer Finance — 1.0%
	139	American Express Credit Corp., 2.800%, 09/19/16		146
		American Honda Finance Corp.,
	333	1.450%, 02/27/15 (e)		337
	200	2.125%, 02/28/17 (e)		204
	83	2.125%, 10/10/18		84
		Capital One Financial Corp.,
	110	3.500%, 06/15/23		104
	245	7.375%, 05/23/14		253
		Caterpillar Financial Services Corp.,
	250	1.000%, 11/25/16		250
	58	2.850%, 06/01/22		55
	100	5.500%, 03/15/16		110
	65	7.050%, 10/01/18		80
	100	7.150%, 02/15/19		124
		Ford Motor Credit Co. LLC,
	200	2.875%, 10/01/18		205
	200	3.000%, 06/12/17		209
	200	4.250%, 09/20/22		203
	200	HSBC Finance Corp., 5.250%, 01/15/14		201
	250	HSBC USA, Inc., 2.375%, 02/13/15		256
		John Deere Capital Corp.,
	50	2.250%, 04/17/19		51
	33	3.150%, 10/15/21		33
	73	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		72
	66	PACCAR Financial Corp., 1.600%, 03/15/17		67
		Toyota Motor Credit Corp.,
	225	1.750%, 05/22/17		228
	200	2.000%, 09/15/16		207
	105	2.000%, 10/24/18		105
	100	2.050%, 01/12/17		103
	154	3.200%, 06/17/15		160
				3,847
		Diversified Financial Services — 2.1%
	161	Associates Corp. of North America, 6.950%, 11/01/18		193
		Bank of America Corp.,
	42	4.100%, 07/24/23		42
	100	5.000%, 05/13/21		109
	130	5.625%, 07/01/20		149
	300	Series L, 5.650%, 05/01/18		343
	170	5.750%, 12/01/17		195
	50	5.875%, 01/05/21		57
	100	6.500%, 08/01/16		114
	125	7.375%, 05/15/14		129
	425	Bank of America N.A., 5.300%, 03/15/17		474
		Citigroup, Inc.,
	100	1.250%, 01/15/16		101
	135	3.375%, 03/01/23		129
	43	4.587%, 12/15/15		46
	59	4.750%, 05/19/15		62
	506	5.000%, 09/15/14		522
	54	5.375%, 08/09/20		61
	115	5.500%, 09/13/25		122
	13	6.000%, 08/15/17		15
	192	6.010%, 01/15/15		203
	300	6.125%, 11/21/17		349
	190	CME Group, Inc., 5.750%, 02/15/14		192
	25	Countrywide Financial Corp., 6.250%, 05/15/16		28
		General Electric Capital Corp.,
	17	1.000%, 12/11/15		17
	220	4.375%, 09/16/20		240
	800	4.650%, 10/17/21		876
	500	5.400%, 02/15/17		563
	140	5.500%, 01/08/20		162
	335	5.625%, 05/01/18		389
	500	5.650%, 06/09/14		514
		IntercontinentalExchange Group, Inc.,
	47	2.500%, 10/15/18		48
	88	4.000%, 10/15/23		89
	200	Metlife of Connecticut Global Funding I, 5.125%, 08/15/14 (e)		207
	500	Private Export Funding Corp., Series EE, 2.800%, 05/15/22		494

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Diversified Financial Services — Continued
		Shell International Finance B.V., (Netherlands),
	42	1.125%, 08/21/17		42
	184	3.100%, 06/28/15		192
	55	4.000%, 03/21/14		55
	195	4.375%, 03/25/20		214
	100	Siemens Financieringsmaatschappij N.V., (Netherlands), 5.750%, 10/17/16 (e)		113
				7,850
		Insurance — 1.1%
		ACE INA Holdings, Inc.,
	45	2.600%, 11/23/15		47
	50	5.600%, 05/15/15		53
		Aflac, Inc.,
	28	2.650%, 02/15/17		29
	83	3.625%, 06/15/23		81
	32	4.000%, 02/15/22		33
	25	8.500%, 05/15/19		32
	61	Allstate Corp. (The), 3.150%, 06/15/23		59
		American International Group, Inc.,
	59	4.125%, 02/15/24		60
	350	5.450%, 05/18/17		394
	45	Aon Corp., 3.500%, 09/30/15		47
		Berkshire Hathaway Finance Corp.,
	65	1.300%, 05/15/18		64
	356	2.900%, 10/15/20		358
	150	5.400%, 05/15/18		173
		Berkshire Hathaway, Inc.,
	202	3.400%, 01/31/22		202
	98	3.750%, 08/15/21		102
	90	CNA Financial Corp., 5.875%, 08/15/20		103
	80	Jackson National Life Global Funding, 4.700%, 06/01/18 (e)		85
	41	Liberty Mutual Group, Inc., 5.000%, 06/01/21 (e)		44
	35	Lincoln National Corp., 4.200%, 03/15/22		36
		MassMutual Global Funding II,
	300	2.000%, 04/05/17 (e)		304
	100	3.125%, 04/14/16 (e)		105
		Metropolitan Life Global Funding I,
	100	1.500%, 01/10/18 (e)		99
	107	1.700%, 06/29/15 (e)		109
	200	2.500%, 09/29/15 (e)		206
	175	3.650%, 06/14/18 (e)		187
	100	3.875%, 04/11/22 (e)		102
		New York Life Global Funding,
	170	1.300%, 01/12/15 (e)		172
	125	3.000%, 05/04/15 (e)		129
	150	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		158
	200	Pricoa Global Funding I, 5.450%, 06/11/14 (e)		205
	16	Principal Financial Group, Inc., 1.850%, 11/15/17		16
		Principal Life Global Funding II,
	35	1.000%, 12/11/15 (e)		35
	106	2.250%, 10/15/18 (e)		106
	150	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		193
				4,128
		Real Estate Investment Trusts (REITs) — 0.3%
	80	American Tower Corp., 3.500%, 01/31/23		73
	45	American Tower Trust I, 1.551%, 03/15/18 (e)		44
		CommonWealth REIT,
	125	5.875%, 09/15/20		129
	150	6.650%, 01/15/18		163
	27	ERP Operating LP, 4.625%, 12/15/21		29
		HCP, Inc.,
	44	2.625%, 02/01/20		43
	8	3.750%, 02/01/19		8
	38	4.250%, 11/15/23		38
	92	5.375%, 02/01/21		101
	73	Health Care REIT, Inc., 4.500%, 01/15/24		73
	53	ProLogis LP, 4.250%, 08/15/23		53
		Simon Property Group LP,
	81	4.125%, 12/01/21		85
	17	4.200%, 02/01/15		17
	40	4.375%, 03/01/21		43
	100	5.625%, 08/15/14		104
	50	5.650%, 02/01/20		57
	40	6.100%, 05/01/16		44
	50	6.125%, 05/30/18		59
	159	WEA Finance LLC/WT Finance Aust Pty Ltd., 6.750%, 09/02/19 (e)		191
				1,354
		Total Financials		38,657

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Health Care — 0.5%
		Biotechnology — 0.2%
		Amgen, Inc.,
	400	3.875%, 11/15/21		409
	44	4.500%, 03/15/20		47
	40	5.700%, 02/01/19		47
	98	Celgene Corp., 3.250%, 08/15/22		93
				596
		Health Care Equipment & Supplies — 0.0% (g)
		Baxter International, Inc.,
	50	4.000%, 03/01/14		50
	50	4.625%, 03/15/15		53
	40	Becton Dickinson and Co., 5.000%, 05/15/19		46
				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		112
		WellPoint, Inc.,
	93	2.300%, 07/15/18		93
	115	3.125%, 05/15/22		109
				382
		Pharmaceuticals — 0.2%
		AbbVie, Inc.,
	119	1.750%, 11/06/17		120
	87	2.900%, 11/06/22		82
	100	AstraZeneca plc, (United Kingdom), 5.400%, 06/01/14		102
	150	GlaxoSmithKline Capital, Inc., 5.650%, 05/15/18		175
		Merck & Co., Inc.,
	75	1.300%, 05/18/18		74
	62	2.400%, 09/15/22		57
				610
		Total Health Care		1,737
		Industrials — 1.0%
		Aerospace & Defense — 0.1%
	70	BAE Systems Holdings, Inc., 6.375%, 06/01/19 (e)		82
	43	EADS Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		40
	100	Honeywell International, Inc., 5.300%, 03/01/18		115
	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		60
				388
		Air Freight & Logistics — 0.2%
	575	Federal Express Corp. 1998 Pass-Through Trust, 6.720%, 01/15/22		672
	115	United Parcel Service of America, Inc., 8.375%, 04/01/20		151
				823
		Airlines — 0.1%
	200	American Airlines 2013-2 Class A Pass-Through Trust, 4.950%, 01/15/23 (e)		209
	33	Continental Airlines 1999-2 Class A-1 Pass-Through Trust, 7.256%, 03/15/20		37
	62	Delta Air Lines 2010-2 Class A Pass-Through Trust, 4.950%, 05/23/19		67
				313
		Commercial Services & Supplies — 0.1%
		ADT Corp. (The),
	70	3.500%, 07/15/22		61
	24	4.125%, 06/15/23		21
	50	Pitney Bowes, Inc., 5.600%, 03/15/18		55
	60	Waste Management, Inc., 7.375%, 03/11/19		73
				210
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	32	1.625%, 05/08/17		32
	41	2.875%, 05/08/22		40
	70	Fluor Corp., 3.375%, 09/15/21		69
				141
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	27	1.500%, 11/02/17		27
	50	5.600%, 05/15/18		57
				84
		Industrial Conglomerates — 0.1%
	34	Ingersoll-Rand Global Holding Co., Ltd., (Bermuda), 4.250%, 06/15/23 (e)		34
	152	Koninklijke Philips N.V., (Netherlands), 3.750%, 03/15/22		153
				187

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Machinery — 0.1%
		Caterpillar, Inc.,
	74	1.500%, 06/26/17		74
	31	2.600%, 06/26/22		29
	89	Deere & Co., 2.600%, 06/08/22		84
	25	Parker Hannifin Corp., 5.500%, 05/15/18		29
				216
		Road & Rail — 0.3%
		Burlington Northern Santa Fe LLC,
	43	3.050%, 03/15/22		41
	32	3.450%, 09/15/21		32
	19	3.600%, 09/01/20		19
	100	5.650%, 05/01/17		114
	100	7.000%, 02/01/14		101
		CSX Corp.,
	30	6.250%, 04/01/15		32
	30	7.375%, 02/01/19		37
	50	7.900%, 05/01/17		60
		ERAC USA Finance LLC,
	48	2.750%, 03/15/17 (e)		50
	27	4.500%, 08/16/21 (e)		28
		Norfolk Southern Corp.,
	138	3.250%, 12/01/21		136
	50	7.700%, 05/15/17		60
	53	Penske Truck Leasing Co. LP/PTL Finance Corp., 2.875%, 07/17/18 (e)		54
		Ryder System, Inc.,
	48	2.500%, 03/01/17		49
	55	3.600%, 03/01/16		58
		Union Pacific Corp.,
	21	2.950%, 01/15/23		19
	75	3.646%, 02/15/24 (e)		74
	233	4.163%, 07/15/22		244
	100	4.875%, 01/15/15		105
				1,313
		Total Industrials		3,675
		Information Technology — 0.8%
		Computers & Peripherals — 0.2%
		Apple, Inc.,
	199	2.400%, 05/03/23		180
	207	VAR, 0.492%, 05/03/18		207
		EMC Corp.,
	100	1.875%, 06/01/18		100
	100	3.375%, 06/01/23		97
		Hewlett-Packard Co.,
	195	4.375%, 09/15/21		196
	87	4.650%, 12/09/21		90
				870
		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		115
	13	7.500%, 01/15/27		15
				235
		IT Services — 0.2%
		International Business Machines Corp.,
	126	1.250%, 02/06/17		127
	309	1.625%, 05/15/20		290
	150	5.700%, 09/14/17		174
	200	7.625%, 10/15/18		253
				844
		Office Electronics — 0.1%
		Xerox Corp.,
	39	2.950%, 03/15/17		40
	50	5.625%, 12/15/19		56
	40	6.750%, 02/01/17		46
				142
		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		71
				106
		Software — 0.2%
	25	Intuit, Inc., 5.750%, 03/15/17		28
		Microsoft Corp.,
	23	0.875%, 11/15/17		23
	120	1.625%, 09/25/15		123
	34	2.125%, 11/15/22		30
	68	2.375%, 05/01/23		62
		Oracle Corp.,
	200	3.625%, 07/15/23		199
	200	5.250%, 01/15/16		219

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Software — Continued
	100	5.750%, 04/15/18		117
				801
		Total Information Technology		2,998
		Materials — 0.5%
		Chemicals — 0.3%
		Dow Chemical Co. (The),
	61	4.125%, 11/15/21		63
	38	4.250%, 11/15/20		40
	40	8.550%, 05/15/19		52
		E.I. du Pont de Nemours & Co.,
	101	1.950%, 01/15/16		103
	100	6.000%, 07/15/18		118
		Mosaic Co. (The),
	34	3.750%, 11/15/21		34
	212	4.250%, 11/15/23		211
	25	Potash Corp. of Saskatchewan, Inc., (Canada), 3.250%, 12/01/17		27
	230	Praxair, Inc., 4.625%, 03/30/15		243
	150	Union Carbide Corp., 7.500%, 06/01/25		175
				1,066
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	37	1.000%, 02/24/15		37
	95	3.850%, 09/30/23		96
	100	5.400%, 03/29/17		113
	100	6.500%, 04/01/19		121
		Freeport-McMoRan Copper & Gold, Inc.,
	128	2.150%, 03/01/17		128
	67	3.100%, 03/15/20		65
	40	3.875%, 03/15/23		38
	27	Nucor Corp., 4.000%, 08/01/23		26
		Rio Tinto Finance USA Ltd., (Australia),
	27	3.500%, 11/02/20		27
	50	8.950%, 05/01/14		52
	58	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		58
				761
		Total Materials		1,827
		Telecommunication Services — 0.9%
		Diversified Telecommunication Services — 0.8%
		AT&T, Inc.,
	135	0.800%, 12/01/15		135
	69	0.900%, 02/12/16		69
	30	1.400%, 12/01/17		30
	100	4.450%, 05/15/21		105
	150	5.500%, 02/01/18		170
	165	BellSouth Corp., 5.200%, 09/15/14		171
	65	BellSouth Telecommunications LLC, 6.300%, 12/15/15		69
	100	British Telecommunications plc, (United Kingdom), 5.950%, 01/15/18		115
	200	Cellco Partnership/Verizon Wireless Capital LLC, 8.500%, 11/15/18		257
	700	GTE Corp., 6.840%, 04/15/18		824
	27	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		27
	61	Orange S.A., (France), 2.750%, 09/14/16		63
	148	Qwest Corp., 6.750%, 12/01/21		161
	30	Telefonica Emisiones S.A.U., (Spain), 5.877%, 07/15/19		34
		Verizon Communications, Inc.,
	112	2.500%, 09/15/16		116
	353	4.500%, 09/15/20		379
	100	5.500%, 02/15/18		114
				2,839
		Wireless Telecommunication Services — 0.1%
	40	Crown Castle Towers LLC, 3.214%, 08/15/15 (e)		41
	160	Rogers Communications, Inc., (Canada), 4.100%, 10/01/23		162
		Vodafone Group plc, (United Kingdom),
	100	1.500%, 02/19/18		98
	100	1.625%, 03/20/17		101
	125	5.000%, 09/15/15		134
				536
		Total Telecommunication Services		3,375
		Utilities — 1.0%
		Electric Utilities — 0.7%
	27	American Electric Power Co., Inc., 1.650%, 12/15/17		27
	43	Baltimore Gas & Electric Co., 2.800%, 08/15/22		40
	50	Cleveland Electric Illuminating Co. (The), Series D, 7.880%, 11/01/17		61
	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

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Corporate Bonds — Continued
		Electric Utilities — Continued
		Duke Energy Progress, Inc.,
	40	2.800%, 05/15/22		38
	150	5.300%, 01/15/19		173
	100	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		108
		Indiana Michigan Power Co.,
	100	Series J, 3.200%, 03/15/23		95
	135	7.000%, 03/15/19		162
	25	Jersey Central Power & Light Co., 7.350%, 02/01/19		30
	47	Kansas City Power & Light Co., 3.150%, 03/15/23		44
	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		171
	40	Niagara Mohawk Power Corp., 4.881%, 08/15/19 (e)		45
	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		61
	50	3.250%, 06/15/23		48
	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		79
	212	Southern California Edison Co., Series C, 3.500%, 10/01/23		211
		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		111
	27	Xcel Energy, Inc., 0.750%, 05/09/16		27
				2,563
		Gas Utilities — 0.0% (g)
	30	Atmos Energy Corp., 8.500%, 03/15/19		39
	50	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		58
				97
		Independent Power Producers & Energy Traders — 0.1%
	72	Exelon Generation Co. LLC, 4.000%, 10/01/20		72
	2	Kiowa Power Partners LLC, 4.811%, 12/30/13 (e)		2
	150	PPL Energy Supply LLC, 4.600%, 12/15/21		146
	37	PSEG Power LLC, 4.300%, 11/15/23		37
				257
		Multi-Utilities — 0.2%
		AGL Capital Corp.,
	94	3.500%, 09/15/21		95
	100	6.375%, 07/15/16		112
	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		185
		Sempra Energy,
	48	4.050%, 12/01/23		48
	150	9.800%, 02/15/19		201
				893
		Total Utilities		3,810
		Total Corporate Bonds (Cost $62,958)		66,781
	Foreign Government Securities — 0.8%
		Israel Government AID Bond, (Israel),
	329	Zero Coupon, 08/15/17		314
	1,557	Zero Coupon, 08/15/20		1,321
	500	Zero Coupon, 02/15/22		391
		Province of Ontario, (Canada),
	400	0.950%, 05/26/15		404
	250	2.700%, 06/16/15		259
	300	2.950%, 02/05/15		309
	116	United Mexican States, (Mexico), 4.000%, 10/02/23		115
		Total Foreign Government Securities (Cost $3,090)		3,113

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — 11.5%
			Federal Home Loan Mortgage Corp.,
	133		ARM, 2.040%, 01/01/37		140
	274		ARM, 2.096%, 08/01/36		291
	14		ARM, 2.250%, 07/01/26		14
	34		ARM, 2.256%, 01/01/27		36
	206		ARM, 2.325%, 03/01/37		220
	122		ARM, 2.515%, 09/01/36		129
	377		ARM, 2.616%, 12/01/34		400
	167		ARM, 2.665%, 09/01/36		178
	310		ARM, 2.710%, 06/01/36		331
	72		ARM, 2.717%, 11/01/36		75
	189		ARM, 2.884%, 04/01/38		203
	111		ARM, 3.066%, 02/01/37		118
			Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	125		4.000%, 06/01/19		133
	34		4.500%, 10/01/18		36
	234		5.500%, 06/01/17 - 01/01/24		255
	47		6.000%, 10/01/17 - 04/01/18		49
	316		6.500%, 01/01/17 - 03/01/22		338
	–	(h)	7.500%, 10/01/14		—	(h)
			Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	10		6.000%, 12/01/22		11
	55		6.500%, 12/01/13 - 08/01/26		61
			Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	70		6.000%, 01/01/34		78
	93		7.000%, 04/01/26 - 02/01/37		106
	6		7.500%, 08/01/25		8
	8		8.000%, 07/01/20 - 11/01/24		9
	21		8.500%, 07/01/28		25
	385		Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		449
			Federal Home Loan Mortgage Corp. Gold Pools, Other,
	2,730		3.500%, 05/01/33 - 05/01/43		2,742
	473		4.000%, 06/01/42		488
	236		6.000%, 02/01/33		259
			Federal Home Loan Mortgage Corp., 30 Year, Single Family,
	1		12.000%, 08/01/15 - 07/01/19		1
			Federal National Mortgage Association,
	69		ARM, 1.818%, 02/01/37		72
	197		ARM, 1.898%, 01/01/35		209
	4		ARM, 1.903%, 03/01/19		4
	182		ARM, 1.910%, 09/01/35		191
	276		ARM, 1.916%, 02/01/35		294
	84		ARM, 2.102%, 08/01/35		88
	109		ARM, 2.127%, 11/01/33		114
	114		ARM, 2.209%, 09/01/36		120
	215		ARM, 2.223%, 09/01/35		228
	308		ARM, 2.233%, 09/01/34		326
	229		ARM, 2.263%, 01/01/35		242
	168		ARM, 2.280%, 08/01/34		179
	152		ARM, 2.372%, 04/01/35		162
	1		ARM, 2.375%, 08/01/19		1
	208		ARM, 2.405%, 02/01/37		221
	254		ARM, 2.420%, 02/01/35 - 08/01/36		271
	143		ARM, 2.423%, 04/01/33		151
	167		ARM, 2.505%, 10/01/34		178
	209		ARM, 2.560%, 09/01/33		221
	137		ARM, 2.601%, 07/01/46		147
	15		ARM, 2.819%, 09/01/27		16
	282		ARM, 2.836%, 02/01/36		299
	12		ARM, 3.771%, 03/01/29		13
			Federal National Mortgage Association, 15 Year, Single Family,
	59		4.000%, 05/01/19		63
	594		4.500%, 05/01/18 - 05/01/19		636
	408		5.000%, 06/01/18 - 04/01/19		437
	260		5.500%, 01/01/20 - 06/01/20		277
	355		6.000%, 03/01/21 - 01/01/24		389
	55		6.500%, 03/01/17 - 08/01/20		59
			Federal National Mortgage Association, 20 Year, Single Family,
	89		6.000%, 04/01/24		98
	119		6.500%, 05/01/22		132
			Federal National Mortgage Association, 30 Year, FHA/VA,
	16		6.000%, 09/01/33		17
	28		6.500%, 03/01/29		33
	6		8.500%, 02/01/30		6
	11		9.000%, 09/01/19 - 12/01/30		12
	6		9.500%, 12/01/18		7
			Federal National Mortgage Association, 30 Year, Single Family,
	81		4.500%, 08/01/33		86
	1,252		5.000%, 07/01/33 - 08/01/40		1,374
	949		5.500%, 09/01/33 - 01/01/38		1,042
	624		6.000%, 12/01/32 - 09/01/37		695
	46		6.500%, 08/01/31		53

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)			SECURITY DESCRIPTION	VALUE ($)
	Mortgage Pass-Through Securities — Continued
	7		7.000%, 09/01/27 - 08/01/32		8
	12		7.500%, 11/01/22 - 10/01/24		14
	469		8.000%, 03/01/21 - 11/01/32		553
	8		8.500%, 07/01/24 - 06/01/25		9
	–	(h)	9.000%, 04/01/26		—	(h)
	3		10.000%, 02/01/24		4
	1		12.500%, 01/01/16		1
			Federal National Mortgage Association, Other,
	500		VAR, 0.519%, 01/01/23		502
	492		VAR, 0.539%, 01/01/23		494
	1,000		VAR, 0.559%, 02/01/23		999
	983		VAR, 0.569%, 01/01/23		986
	1,000		VAR, 0.659%, 08/01/23		1,001
	1,500		Zero Coupon, 05/30/19 - 12/30/23		1,519
	964		1.940%, 01/01/17		979
	1,000		2.056%, 01/01/17		1,002
	1,000		2.294%, 12/01/22		942
	500		2.314%, 12/01/22		471
	2,847		2.970%, 11/01/18		2,984
	2,384		3.590%, 12/01/20		2,514
	1,000		3.658%, 10/01/20		1,055
	1,500		3.760%, 10/01/23 - 11/01/23		1,550
	936		4.000%, 07/01/42		969
	469		4.290%, 06/01/21		510
	1,058		4.298%, 03/01/21		1,145
	1,963		4.380%, 01/01/21 - 04/01/21		2,148
	500		4.390%, 05/01/21		547
	794		4.443%, 04/01/21		865
	933		4.500%, 03/01/20		1,026
	148		5.500%, 04/01/38		157
	166		6.000%, 03/01/37		181
			Government National Mortgage Association II, 30 Year, Single Family,
	419		6.000%, 03/20/28 - 09/20/38		470
	13		7.500%, 02/20/28 - 09/20/28		16
	35		8.000%, 12/20/25 - 08/20/28		42
	22		8.500%, 03/20/25 - 05/20/25		26
			Government National Mortgage Association, 15 Year, Single Family,
	26		6.000%, 10/15/17		27
	7		8.000%, 01/15/16		7
			Government National Mortgage Association, 30 Year, Single Family,
	347		6.000%, 11/15/28 - 12/15/38		390
	327		6.500%, 01/15/24 - 12/15/35		370
	317		7.000%, 08/15/23 - 06/15/35		367
	27		7.500%, 11/15/22 - 09/15/28		30
	6		8.000%, 07/15/22 - 08/15/28		7
	4		8.500%, 11/15/17		4
	9		9.000%, 08/15/16 - 11/15/24		10
	166		9.500%, 09/15/18 - 12/15/25		188
	1		12.000%, 11/15/19		1
			Total Mortgage Pass-Through Securities (Cost $42,268)		43,436
	Supranational — 0.1%
	150		African Development Bank, 8.800%, 09/01/19 (Cost $195)		199
	U.S. Government Agency Securities — 2.7%
	323		Federal Farm Credit Bank, 5.125%, 11/15/18		374
			Federal National Mortgage Association,
	1,300		Zero Coupon, 07/05/14		1,298
	1,000		Zero Coupon, 06/01/17		953
	800		5.000%, 05/11/17		913
	500		Federal National Mortgage Association STRIPS, 11/15/21		393
			Financing Corp. Fico,
	1,440		Zero Coupon, 05/11/18		1,344
	500		Zero Coupon, 04/05/19		451
	584		Zero Coupon, 09/26/19		516
	1,000		Government Trust Certificate, Zero Coupon, 10/01/15		979
			Residual Funding Corp. STRIPS,
	250		Zero Coupon, 10/15/19		221
	1,750		Zero Coupon, 07/15/20		1,488
	1,000		Tennessee Valley Authority, 5.500%, 07/18/17		1,157
	333		Tennessee Valley Authority STRIPS, Zero Coupon, 05/01/19		294
			Total U.S. Government Agency Securities (Cost $10,134)		10,381
	U.S. Treasury Obligations — 33.8%
			U.S. Treasury Bonds,
	1,225		7.500%, 11/15/16		1,473
	320		8.500%, 02/15/20		448
	250		8.750%, 05/15/20		356
	250		8.750%, 08/15/20		358
	1,500		8.875%, 08/15/17		1,938
	835		11.250%, 02/15/15		946

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	U.S. Treasury Obligations — Continued
		U.S. Treasury Bonds STRIPS,
	4,566	05/15/14 (m)		4,564
	1,500	08/15/14 (m)		1,499
	3,518	11/15/14 (m)		3,512
	3,325	02/15/15		3,317
	4,313	11/15/15 (m)		4,289
	5,766	02/15/16 (m)		5,721
	3,577	08/15/16		3,531
	700	11/15/16		688
	1,224	02/15/17		1,196
	4,446	08/15/17		4,296
	1,960	11/15/17		1,882
	2,200	02/15/18		2,098
	700	05/15/18		663
	495	05/15/19		453
	4,350	08/15/19		3,945
	2,000	02/15/20		1,777
	10,023	05/15/20		8,819
	150	05/15/20		132
	12,550	08/15/20		10,918
	3,925	02/15/21		3,333
	2,150	05/15/21		1,805
	1,600	08/15/21		1,327
	2,300	11/15/21		1,887
	425	02/15/22		345
	47	08/15/26		31
	300	11/15/26		192
	100	08/15/27		62
	150	11/15/27		91
	53	02/15/28		32
		U.S. Treasury Inflation Indexed Notes,
	1,700	0.500%, 04/15/15		1,871
	700	1.125%, 01/15/21		801
	500	1.250%, 04/15/14		555
	250	2.000%, 01/15/14		317
		U.S. Treasury Notes,
	593	0.875%, 01/31/18		589
	800	1.000%, 11/30/19		765
	400	1.375%, 12/31/18		400
	5,500	1.500%, 08/31/18		5,557
	1,300	1.750%, 01/31/14		1,304
	1,500	1.750%, 10/31/18		1,531
	500	1.875%, 02/28/14		502
	1,100	1.875%, 04/30/14		1,108
	6,400	1.875%, 08/31/17		6,632
	400	2.000%, 02/15/22		388
	200	2.125%, 08/15/21		198
	1,500	2.250%, 07/31/18		1,569
	350	2.625%, 08/15/20		364
	400	2.625%, 11/15/20		415
	1,500	2.750%, 11/30/16		1,596
	1,755	2.750%, 05/31/17		1,875
	3,000	2.750%, 12/31/17		3,209
	1,000	3.125%, 04/30/17		1,080
	850	3.125%, 05/15/21		905
	7,900	3.250%, 12/31/16		8,536
	1,000	3.250%, 03/31/17		1,083
	1,050	3.500%, 02/15/18		1,155
	1,550	3.500%, 05/15/20		1,705
	400	3.625%, 02/15/20		443
	450	3.625%, 02/15/21		496
	700	4.000%, 02/15/15		732
	400	4.250%, 11/15/17		451
	200	4.500%, 02/15/16		218
	1,000	4.750%, 08/15/17		1,142
		Total U.S. Treasury Obligations (Cost $123,581)		127,416
SHARES
	Short-Term Investment — 5.5%
		Investment Company — 5.5%
	20,618	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.030% (b) (l) (Cost $20,618)		20,618
		Total Investments — 100.0% (Cost $363,365)		377,274
		Liabilities in Excess of Other Assets — 0.0% (g)		(164	)
		NET ASSETS — 100.0%	$	377,110

Percentages indicated are based on net assets.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

ARM	—	Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of November 30, 2013.
CDO	—	Collateralized Debt Obligation
CMO	—	Collateralized Mortgage Obligation
ESOP	—	Employee Stock Ownership Program
FHA	—	Federal Housing Administration
GMAC	—	General Motors Acceptance Corp.
HB	—	High Coupon Bonds (a.k.a. “IOettes”) represent the right to receive interest payments on an underlying pool of mortgages with similar features as those associated with IO securities. Unlike IO’s the owner also has a right to receive a very small portion of principal. The high interest rates result from taking interest payments from other classes in the Real Estate Mortgage Investment Conduit trust and allocating them to the small principal of the HB class.
IF	—	Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index. The interest rate shown is the rate in effect as of November 30, 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
STRIPS	—	Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.
SUB	—	Step-Up Bond. The interest rate shown is the rate in effect as of November 30, 2013.
VA	—	Veterans Administration
VAR	—	Variable Rate Security. The interest rate shown is the rate in effect as of November 30, 2013.
(b)	—	Investment in affiliate. Money market fund registered under the Investment Company Act of 1940, as amended, and advised by J.P. Morgan Investment Management Inc.
(e)	—	Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Unless otherwise indicated, this security has been determined to be liquid under procedures established by the Board of Trustees and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(g)	—	Amount rounds to less than 0.1%.
(h)	—	Amount rounds to less than one thousand (shares or dollars).
(i)	—	Security has been deemed illiquid pursuant to procedures approved by the Board of Trustees and may be difficult to sell.
(l)	—	The rate shown is the current yield as of November 30, 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.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

As of November 30, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	15,524
Aggregate gross unrealized depreciation		(1,615)
Net unrealized appreciation/depreciation	$	13,909
Federal income tax cost of investments	$	363,365

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2013 (Unaudited) (continued)

(Amounts in thousands)

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

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

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

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

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

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs			Total
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	13,893	$	3,830		$	17,723
Collateralized Mortgage Obligations
Agency CMO		—		63,829		499			64,328
Non-Agency CMO		—		14,900		1,034			15,934
Total Collateralized Mortgage Obligations		—		78,729		1,533			80,262
Commercial Mortgage-Backed Securities		—		6,138		1,207			7,345
Corporate Bonds
Consumer Discretionary		—		3,528		—			3,528
Consumer Staples		—		2,551		—			2,551
Energy		—		4,623		—			4,623
Financials		—		38,657		—			38,657
Health Care		—		1,737		—			1,737
Industrials		—		2,899		776			3,675
Information Technology		—		2,998		—			2,998
Materials		—		1,827		—			1,827
Telecommunication Services		—		3,375		—			3,375
Utilities		—		3,810		—			3,810
Total Corporate Bonds		—		66,005		776			66,781
Foreign Government Securities		—		3,113		—			3,113
Mortgage Pass-Through Securities		—		43,436		—			43,436
Supranational		—		199		—			199
U.S. Government Agency Securities		—		10,381		—			10,381
U.S. Treasury Obligations		—		127,416		—			127,416
Short-Term Investment
Investment Company		20,618		—		—			20,618
Total Investments in Securities	$	20,618	$	349,310	$	7,346	*	$	377,274

* Level 3 securities are valued by brokers. At November 30, 2013, the value of these securities was approximately $7,346,000. The inputs or these securities are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A. The appropriateness of fair values for these securities is based on results of back testing and unchanged price review and may also include but not limited to results of broker due diligence and consideration of macro or security specific events.

There were no transfers between Levels 1 and 2 during the period ended November 30, 2013.

ITEM 2. CONTROLS AND PROCEDURES.

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

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

ITEM 3. EXHIBITS.

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

SIGNATURES

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

JPMorgan Institutional Trust

By:	/s/ Robert L. Young
	Robert L. Young
	President and Principal Executive Officer
	January 28, 2014

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
	January 28, 2014

By:	/s/ Joy C. Dowd
	Joy C. Dowd
	Treasurer and Principal Financial Officer
	January 28, 2014