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, 2015

ITEM 1. SCHEDULE OF INVESTMENTS.

JPMorgan Institutional Trust

Schedule of Portfolio Investments as of November 30, 2015

(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., 2015.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — 10.9%
		Academic Loan Funding Trust,
	1,186	Series 2012-1A, Class A1, VAR, 1.021%, 12/27/22 (e)		1,181
	1,720	Series 2013-1A, Class A, VAR, 0.996%, 12/26/44 (e)		1,705
		Ally Auto Receivables Trust,
	995	Series 2013-2, Class A3, 0.790%, 01/15/18		994
	300	Series 2013-2, Class A4, 1.240%, 11/15/18		300
	1,981	Series 2014-SN2, Class A3, 1.030%, 09/20/17		1,978
		American Credit Acceptance Receivables Trust,
	39	Series 2013-1, Class A, 1.450%, 04/16/18 (e)		39
	67	Series 2014-2, Class A, 0.990%, 10/10/17 (e)		67
	1,182	Series 2014-2, Class B, 2.260%, 03/10/20 (e)		1,183
	374	Series 2014-4, Class A, 1.330%, 07/10/18 (e)		373
	1,027	Series 2015-1, Class A, 1.430%, 08/12/19 (e)		1,024
	2,314	Series 2015-2, Class A, 1.570%, 06/12/19 (e)		2,309
	1,225	Series 2015-2, Class C, 4.320%, 05/12/21 (e)		1,203
	4,206	American Homes 4 Rent, Series 2015-SFR1, Class A, 3.467%, 04/17/52 (e)		4,162
		American Homes 4 Rent Trust,
	1,000	Series 2014-SFR1, Class C, VAR, 2.000%, 06/17/31 (e)		969
	2,947	Series 2014-SFR2, Class A, 3.786%, 10/17/36 (e)		3,009
	2,000	Series 2014-SFR2, Class D, 5.149%, 10/17/36 (e)		1,998
	850	Series 2014-SFR2, Class E, 6.231%, 10/17/36 (e)		866
	2,952	Series 2014-SFR3, Class A, 3.678%, 12/17/36 (e)		2,988
	500	Series 2014-SFR3, Class C, 4.596%, 12/17/36 (e)		498
	1,025	Series 2014-SFR3, Class E, 6.418%, 12/17/36 (e)		1,057
	1,275	Series 2015-SFR1, Class E, 5.639%, 04/17/52 (e)		1,243
		AmeriCredit Automobile Receivables Trust,
	402	Series 2013-5, Class A3, 0.900%, 09/10/18		401
	725	Series 2015-2, Class A2A, 0.830%, 09/10/18		724
	3,675	ARLP Securitization Trust, Series 2015-1, Class A1, SUB, 3.967%, 05/25/55 (e)		3,611
	503	AXIS Equipment Finance Receivables II LLC, Series 2013-1A, Class A, 1.750%, 03/20/17 (e)		502
	1,903	AXIS Equipment Finance Receivables III LLC, Series 2015-1A, Class A2, 1.900%, 03/20/20 (e)		1,899
		B2R Mortgage Trust,
	1,809	Series 2015-1, Class A1, 2.524%, 05/15/48 (e)		1,781
	3,034	Series 2015-2, Class A, 3.336%, 11/15/48 (e)		3,036
	1,400	BA Credit Card Trust, Series 2015-A2, Class A, 1.360%, 09/15/20		1,396
	1,601	Banc of America Funding Corp., Series 2012-R6, Class 1A1, 3.000%, 10/26/39 (e)		1,585
		BCC Funding Corp. X,
	3,470	Series 2015-1, Class A2, 2.224%, 10/20/20 (e)		3,478
	550	Series 2015-1, Class D, 4.544%, 12/21/20 (e)		551
	336	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.591%, 04/25/36		322
	317	BMW Vehicle Owner Trust, Series 2013-A, Class A3, 0.670%, 11/27/17		316
	676	BXG Receivables Note Trust, Series 2012-A, Class A, 2.660%, 12/02/27 (e)		672
		Cabela’s Credit Card Master Note Trust,
	700	Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		703
	880	Series 2015-2, Class A1, 2.250%, 07/17/23		877
	80	California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		80
	3,460	CAM Mortgage LLC, Series 2015-1, Class A, SUB, 3.375%, 07/15/64 (e)		3,457
		CarFinance Capital Auto Trust,
	25	Series 2013-2A, Class A, 1.750%, 11/15/17 (e)		25
	313	Series 2014-1A, Class A, 1.460%, 12/17/18 (e)		313
	375	Series 2014-1A, Class B, 2.720%, 04/15/20 (e)		375
	1,173	Series 2015-1A, Class A, 1.750%, 06/15/21 (e)		1,161

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	3,207	Carlyle Global Market Strategies Commodities Funding Ltd., (Cayman Islands), Series 2014-1A, Class A, VAR, 2.221%, 10/15/21 (e)		3,207
		CarMax Auto Owner Trust,
	495	Series 2013-4, Class A3, 0.800%, 07/16/18		494
	440	Series 2013-4, Class A4, 1.280%, 05/15/19		438
	5,091	Series 2015-2, Class A2A, 0.820%, 06/15/18		5,083
		Carnow Auto Receivables Trust,
	750	Series 2014-1A, Class B, 1.890%, 11/15/18 (e)		749
	3,400	Series 2015-1A, Class A, 1.690%, 01/15/20 (e)		3,398
	184	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		186
	1,023	Chase Funding Trust, Series 2003-6, Class 1A7, SUB, 4.277%, 11/25/34		1,041
		Citi Held For Asset Issuance,
	1,817	Series 2015-PM1, Class A, 1.850%, 12/15/21 (e)		1,817
	1,459	Series 2015-PM1, Class B, 2.930%, 12/15/21 (e)		1,462
	800	Citibank Credit Card Issuance Trust, Series 2007-A3, Class A3, 6.150%, 06/15/39		1,028
	227	Citigroup Mortgage Loan Trust, Inc., Series 2003-HE3, Class A, VAR, 0.601%, 12/25/33		218
	4,921	Colony American Homes, Series 2014-2A, Class A, VAR, 1.145%, 07/17/31 (e)		4,799
	2,800	Concord Funding Co. LLC, Series 2012-2, Class A, 3.145%, 01/15/17 (e)		2,800
	1,079	Conix Mortgage Asset Trust, Series 2013-1, Class A, VAR, 12/25/47 (d)		334
	876	Consumer Credit Origination Loan Trust, Series 2015-1, Class A, 2.820%, 03/15/21 (e)		878
		CPS Auto Receivables Trust,
	234	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		235
	128	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		128
	821	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		823
	846	Series 2013-C, Class A, 1.640%, 04/16/18 (e)		845
	1,269	Series 2013-D, Class A, 1.540%, 07/16/18 (e)		1,266
	182	Series 2014-A, Class A, 1.210%, 08/15/18 (e)		182
	2,584	Series 2014-D, Class A, 1.490%, 04/15/19 (e)		2,568
	700	Series 2014-D, Class C, 4.350%, 11/16/20 (e)		699
	1,625	Series 2015-A, Class A, 1.530%, 07/15/19 (e)		1,616
	223	Series 2015-A, Class C, 4.000%, 02/16/21 (e)		220
	5,980	Series 2015-B, Class A, 1.650%, 11/15/19 (e)		5,940
	2,535	Series 2015-B, Class C, 4.200%, 05/17/21 (e)		2,503
	1,376	Series 2015-C, Class D, 4.630%, 08/16/21 (e)		1,374
		CPS Auto Trust,
	516	Series 2012-C, Class A, 1.820%, 12/16/19 (e)		514
	83	Series 2012-D, Class A, 1.480%, 03/16/20 (e)		83
		Credit Acceptance Auto Loan Trust,
	1,800	Series 2014-1A, Class A, 1.550%, 10/15/21 (e)		1,795
	3,022	Series 2015-2A, Class A, 2.400%, 02/15/23 (e)		3,012
	579	Series 2015-2A, Class C, 3.760%, 02/15/24 (e)		576
	474	CWABS, Inc. Asset-Backed Certificates Trust, Series 2004-6, Class M1, VAR, 1.121%, 10/25/34		456
		Drive Auto Receivables Trust,
	723	Series 2015-AA, Class A2, 1.010%, 11/15/17 (e)		723
	1,471	Series 2015-AA, Class D, 4.120%, 07/15/22 (e)		1,462
	2,449	Series 2015-BA, Class B, 2.120%, 06/17/19 (e)		2,447
	2,882	Series 2015-BA, Class D, 3.840%, 07/15/21 (e)		2,837
	884	Series 2015-CA, Class A2A, 1.030%, 02/15/18 (e)		883
	1,059	Series 2015-CA, Class D, 4.200%, 09/15/21 (e)		1,055
	1,320	Series 2015-DA, Class D, 4.590%, 01/17/23 (e)		1,321
		DT Auto Owner Trust,
	1,087	Series 2014-3A, Class A, 0.980%, 04/16/18 (e)		1,085
	827	Series 2015-1A, Class A, 1.060%, 09/17/18 (e)		825

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	2,274	Series 2015-2A, Class A, 1.240%, 09/17/18 (e)		2,269
	1,808	Series 2015-2A, Class D, 4.250%, 02/15/22 (e)		1,799
		Exeter Automobile Receivables Trust,
	212	Series 2014-1A, Class A, 1.290%, 05/15/18 (e)		212
	877	Series 2014-2A, Class A, 1.060%, 08/15/18 (e)		876
	1,858	Series 2014-3A, Class A, 1.320%, 01/15/19 (e)		1,852
	556	Series 2014-3A, Class B, 2.770%, 11/15/19 (e)		559
	1,503	Series 2015-1A, Class A, 1.600%, 06/17/19 (e)		1,502
	2,125	Series 2015-1A, Class B, 2.840%, 03/16/20 (e)		2,124
	2,820	Series 2015-2A, Class A, 1.540%, 11/15/19 (e)		2,809
	3,320	Series 2015-3A, Class A, 2.000%, 03/16/20 (e)		3,311
		Fifth Third Auto Trust,
	129	Series 2013-1, Class A3, 0.880%, 10/16/17		129
	504	Series 2014-3, Class A2A, 0.570%, 05/15/17		504
	413	Series 2014-3, Class A3, 0.960%, 03/15/19		413
		First Investors Auto Owner Trust,
	20	Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		20
	1,150	Series 2014-3A, Class A2, 1.060%, 11/15/18 (e)		1,150
	884	Series 2014-3A, Class A3, 1.670%, 11/16/20 (e)		881
	1,854	Series 2015-1A, Class A2, 1.210%, 04/15/19 (e)		1,848
	2,165	Series 2015-2A, Class A1, 1.590%, 12/16/19 (e)		2,165
	373	Series 2015-2A, Class D, 4.220%, 12/15/21 (e)		374
		FirstKey Lending Trust,
	6,778	Series 2015-SFR1, Class A, 2.553%, 03/09/47 (e)		6,674
	2,246	Series 2015-SFR1, Class B, 3.417%, 03/09/47 (e)		2,226
		Flagship Credit Auto Trust,
	177	Series 2013-1, Class A, 1.320%, 04/16/18 (e)		176
	501	Series 2013-2, Class A, 1.940%, 01/15/19 (e)		501
	567	Series 2014-1, Class A, 1.210%, 04/15/19 (e)		565
	245	Series 2014-1, Class B, 2.550%, 02/18/20 (e)		244
	1,423	Series 2014-2, Class A, 1.430%, 12/16/19 (e)		1,413
	892	Series 2014-2, Class B, 2.840%, 11/16/20 (e)		891
	440	Series 2014-2, Class C, 3.950%, 12/15/20 (e)		436
	2,033	Series 2015-1, Class A, 1.630%, 06/15/20 (e)		2,014
	5,747	Series 2015-3, Class A, 2.380%, 10/15/20 (e)		5,746
	757	Series 2015-3, Class B, 3.680%, 03/15/22 (e)		757
	756	Series 2015-3, Class C, 4.650%, 03/15/22 (e)		756
		Ford Credit Auto Owner Trust,
	25	Series 2012-D, Class A3, 0.510%, 04/15/17		25
	673	Series 2014-C, Class A2, 0.610%, 08/15/17		673
	1,223	Series 2014-C, Class A3, 1.060%, 05/15/19		1,221
	5,475	Series 2015-B, Class A2A, 0.720%, 03/15/18		5,472
	669	Ford Credit Floorplan Master Owner Trust, Series 2013-1, Class A2, VAR, 0.577%, 01/15/18		669
	194	Freedom Trust, Series 2011-2, Class A11, VAR, 5.000%, 08/01/46 (e)		195
	1	FRT Trust, Series 2013-1A, Class AR, SUB, 4.210%, 10/25/18 (e)		1
	3,609	GCAT, Series 2015-2, Class A1, SUB, 3.750%, 07/25/20 (e)		3,603
	216	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		199
	113	GE Equipment Midticket LLC, Series 2012-1, Class A4, 0.780%, 09/22/20		113
	3,292	GLC II Trust, Series 2014-A, Class A, 4.000%, 12/18/20 (e)		3,284
	1,803	GLC Trust, Series 2014-A, Class A, 3.000%, 07/15/21 (e)		1,780
		GLS Auto Receivables Trust,
	5,242	Series 2015-1A, Class A, 2.250%, 12/15/20 (e)		5,219
	1,431	Series 2015-1A, Class B, 4.430%, 12/15/20 (e)		1,418

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	953	GMAT Trust, Series 2013-1A, Class A, SUB, 3.967%, 11/25/43 (e)		960
		GO Financial Auto Securitization Trust,
	3,818	Series 2015-1, Class A, 1.810%, 03/15/18 (e)		3,814
	1,618	Series 2015-1, Class B, 3.590%, 10/15/20 (e)		1,615
	4,300	Series 2015-2, Class A, 3.270%, 11/15/18 (e)		4,299
	1,693	Gold Key Resorts LLC, Series 2014-A, Class A, 3.220%, 03/17/31 (e)		1,684
	1,385	Green Tree Agency Advance Funding Trust I, Series 2015-T1, Class T1, 3.438%, 10/15/46 (e)		1,382
	143	Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-A, Class A3, VAR, 0.421%, 03/25/36		128
		Honda Auto Receivables Owner Trust,
	959	Series 2013-4, Class A3, 0.690%, 09/18/17		959
	930	Series 2014-2, Class A3, 0.770%, 03/19/18		929
	676	Series 2015-1, Class A2, 0.700%, 06/15/17		676
	837	HSBC Home Equity Loan Trust USA, Series 2007-3, Class APT, VAR, 1.407%, 11/20/36		834
		Hyundai Auto Receivables Trust,
	744	Series 2015-A, Class A2, 0.680%, 10/16/17		744
	883	Series 2015-B, Class A2A, 0.690%, 04/16/18		882
	931	Series 2015-B, Class A3, 1.120%, 11/15/19		926
	3,750	Invitation Homes Trust, Series 2014-SFR1, Class A, VAR, 1.197%, 06/17/31 (e)		3,676
	466	John Deere Owner Trust, Series 2012-B, Class A4, 0.690%, 01/15/19		466
		KGS-Alpha SBA COOF Trust,
	13,850	Series 2012-2, IO, VAR, 0.817%, 08/25/38 (e)		398
	9,709	Series 2013-2, Class A, IO, VAR, 0.000%, 03/25/39 (e)		519
	4,144	Series 2015-2, Class A, IO, VAR, 2.244%, 07/25/41 (e)		587
	310	Long Beach Mortgage Loan Trust, Series 2006-WL2, Class 2A3, VAR, 0.421%, 01/25/36		299
		LV Tower 52 Issuer LLC,
	4,211	Series 2013-1, Class A, 5.500%, 07/15/19 (e)		4,154
	2,095	Series 2013-1, Class M, 7.500%, 07/15/19 (e)		2,040
	14	Madison Avenue Manufactured Housing Contract Trust, Series 2002-A, Class M2, VAR, 2.471%, 03/25/32		14
		MarketPlace Loan Trust,
	2,260	Series 2015-OD1, Class A, 3.250%, 06/17/17 (e)		2,253
	500	Series 2015-OD1, Class B, 5.250%, 06/17/17 (e)		497
	2,256	Series 2015-OD2, Class A, 3.250%, 08/17/17 (e)		2,252
	713	Series 2015-OD2, Class B, 5.250%, 08/17/17 (e)		710
	4,140	Series 2015-OD3, Class A, 3.875%, 09/17/17 (e)		4,127
	962	Series 2015-OD3, Class B, 5.875%, 09/17/17 (e)		955
	3,273	Mercedes-Benz Auto Receivables Trust, Series 2015-1, Class A2A, 0.820%, 06/15/18		3,269
	972	Mid-State Capital Corp. Trust, Series 2006-1, Class M1, 6.083%, 10/15/40 (e)		1,017
		Nationstar Agency Advance Funding Trust,
	439	Series 2013-T2A, Class AT2, 1.892%, 02/18/48 (e)		433
	216	Series 2013-T2A, Class BT2, 2.487%, 02/18/48 (e)		215
	1,739	Nationstar HECM Loan Trust, Series 2015-1A, Class A, 3.844%, 05/25/18 (e)		1,737
	226	Navitas Equipment Receivables LLC, Series 2013-1, Class A, 1.950%, 11/15/16 (e)		226
	530	NCUA Guaranteed Notes Trust, Series 2010-A1, Class A, VAR, 0.545%, 12/07/20		530
	809	New Century Home Equity Loan Trust, Series 2003-5, Class AI6, SUB, 5.182%, 11/25/33		832
	4,050	Nissan Auto Lease Trust, Series 2015-A, Class A2A, 0.990%, 11/15/17		4,048
		Nissan Auto Receivables Owner Trust,
	141	Series 2012-A, Class A4, 1.000%, 07/16/18		141
	799	Series 2014-B, Class A3, 1.110%, 05/15/19		797
	998	Normandy Mortgage Loan Co. LLC, Series 2013-NPL3, Class A, SUB, 4.949%, 09/16/43 (e)		996
		NRPL Trust,
	3,132	Series 2015-1A, Class A1, SUB, 3.875%, 11/01/54 (e)		3,124

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	1,522	Series 2015-1A, Class A2, SUB, 3.875%, 11/01/54 (e)		1,512
	7,124	Series 2015-2A, Class A1, VAR, 3.750%, 10/25/57 (e)		7,081
		NRZ Advance Receivables Trust Advance Receivables Backed Notes,
	3,500	Series 2015-T1, Class AT1, 2.315%, 08/15/46 (e)		3,498
	1,000	Series 2015-T1, Class CT1, 3.100%, 08/15/46 (e)		999
	1,500	Series 2015-T1, Class DT1, 3.600%, 08/15/46 (e)		1,496
	2,411	Series 2015-T2, Class DT2, 4.679%, 08/17/48 (e)		2,412
	850	Series 2015-T3, Class T3, 4.266%, 11/15/46 (e)		850
		NYMT Residential LLC,
	214	Series 2012-RP1A, Class NOTE, VAR, 4.250%, 12/25/17 (e)		214
	796	Series 2013-RP3A, Class NOTE, SUB, 4.850%, 09/25/18 (e)		797
		Oak Hill Advisors Residential Loan Trust,
	1,558	Series 2015-NPL1, Class A2, SUB, 4.000%, 01/25/55 (e)		1,520
	769	Series 2015-NPL2, Class A2, SUB, 4.000%, 07/25/55 (e)		748
		OaK Hill Advisors Residential Loan Trust,
	3,648	Series 2014-NPL2, Class A1, SUB, 3.475%, 04/25/54 (e)		3,635
	2,343	Series 2015-NPL1, Class A1, SUB, 3.475%, 01/25/55 (e)		2,337
	2,864	Series 2015-NPL2, Class A1, SUB, 3.721%, 07/25/55 (e)		2,843
	1,371	OAK Hill Advisors Residential Loan Trust, Series 2014-NPL2, Class A2, SUB, 4.000%, 04/25/54 (e)		1,355
		Ocwen Master Advance Receivables Trust,
	492	Series 2015-1, Class AT1, 2.537%, 09/17/46 (e)		492
	2,668	Series 2015-1, Class T1, 3.031%, 09/17/46 (e)		2,668
	1,752	Series 2015-1, Class T1, 4.100%, 09/17/46 (e)		1,749
	751	Series 2015-T2, Class T2, 4.258%, 11/15/46 (e)		751
	2,934	Series 2015-T3, Class T3, 3.211%, 11/15/47 (e)		2,934
	654	Series 2015-T3, Class T3, 3.704%, 11/15/47 (e)		654
	487	Series 2015-T3, Class T3, 4.196%, 11/15/47 (e)		487
	2,500	Series 2015-T3, Class T3, 4.687%, 11/15/47 (e)		2,500
	2,952	OnDeck Asset Securitization Trust LLC, Series 2014-1A, Class A, 3.150%, 05/17/18 (e)		2,953
		OneMain Financial Issuance Trust,
	2,744	Series 2014-1A, Class A, 2.430%, 06/18/24 (e)		2,740
	402	Series 2014-1A, Class B, 3.240%, 06/18/24 (e)		401
	3,672	Series 2014-2A, Class A, 2.470%, 09/18/24 (e)		3,670
	1,491	Series 2014-2A, Class B, 3.020%, 09/18/24 (e)		1,484
	4,603	Series 2015-1A, Class A, 3.190%, 03/18/26 (e)		4,608
	550	Series 2015-1A, Class B, 3.850%, 03/18/26 (e)		551
	9,374	Series 2015-2A, Class A, 2.570%, 07/18/25 (e)		9,335
	1,911	Series 2015-2A, Class B, 3.100%, 07/18/25 (e)		1,879
	310	Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-MCW1, Class M1, VAR, 1.159%, 10/25/34		309
	356	PFS Tax Lien Trust, Series 2014-1, Class NOTE, 1.440%, 04/15/16 (e)		355
		Pretium Mortgage Credit Partners I LLC,
	1,853	Series 2015-NPL2, Class A1, SUB, 3.750%, 07/27/30 (e)		1,851
	2,000	Series 2015-NPL2, Class A2, SUB, 4.250%, 07/27/30 (e)		1,968
	2,353	Progreso Receivables Funding II LLC, Series 2014-A, Class A, 3.500%, 07/08/19 (e)		2,359
		Progreso Receivables Funding III LLC,
	3,531	Series 2015-A, Class A, 3.625%, 02/08/20 (e)		3,533
	906	Series 2015-A, Class B, 5.500%, 02/08/20 (e)		907
		Progreso Receivables Funding LLC,
	1,603	Series 2015-B, Class A, 3.000%, 07/28/20 (e)		1,601
	726	Series 2015-B, Class B, 5.000%, 07/28/20 (e)		726
		Progress Residential Trust,
	3,974	Series 2015-SFR2, Class A, 2.740%, 06/12/32 (e)		3,905
	2,012	Series 2015-SFR2, Class B, 3.138%, 06/12/32 (e)		1,957

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	2,566	Series 2015-SFR2, Class C, 3.436%, 06/12/32 (e)		2,464
	1,230	Series 2015-SFR2, Class E, 4.427%, 06/12/32 (e)		1,166
	5,256	Series 2015-SFR3, Class A, 3.067%, 11/12/32 (e)		5,221
	295	Series 2015-SFR3, Class D, 4.673%, 11/12/32 (e)		294
	1,200	Series 2015-SFR3, Class E, 5.660%, 11/12/32 (e)		1,194
		Purchasing Power Funding LLC,
	4,000	Series 2015-A, Class A2, 4.750%, 12/15/19 (e)		4,000
	1,300	Series 2015-A, Class B, 6.000%, 12/15/19 (e)		1,300
	1,185	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.521%, 03/25/36		1,159
	1,230	RBSHD Trust, Series 2013-1A, Class A, SUB, 4.685%, 10/25/47 (e)		1,231
	293	Renaissance Home Equity Loan Trust, Series 2007-2, Class AF2, SUB, 5.675%, 06/25/37		144
	3,053	RMAT LLC, Series 2015-NPL1, Class A1, SUB, 3.750%, 05/25/55 (e)		3,017
		Santander Drive Auto Receivables Trust,
	2,035	Series 2015-S1, Class R1, 1.930%, 09/17/19 (e)		2,025
	517	Series 2015-S2, Class R1, 1.840%, 11/18/19 (e)		514
	2,072	Series 2015-S7, Class R1, 1.970%, 03/16/21 (e)		2,062
	266	Saxon Asset Securities Trust, Series 2003-1, Class AF6, SUB, 4.795%, 06/25/33		269
	288	Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.373%, 01/25/36		211
	1,432	Selene Non-Performing Loans LLC, Series 2014-1A, Class A, SUB, 2.981%, 05/25/54 (e)		1,419
	999	Skopos Auto Receivables Trust, Series 2015-2A, Class A, 3.550%, 02/15/20 (e)		999
	160	SNAAC Auto Receivables Trust, Series 2014-1A, Class A, 1.030%, 09/17/18 (e)		160
		SpringCastle America Funding LLC,
	6,214	Series 2014-AA, Class A, 2.700%, 05/25/23 (e)		6,228
	1,500	Series 2014-AA, Class B, 4.610%, 10/25/27 (e)		1,512
		Springleaf Funding Trust,
	2,224	Series 2013-AA, Class A, 2.580%, 09/15/21 (e)		2,221
	3,000	Series 2013-BA, Class A, 3.920%, 01/16/23 (e)		3,001
	2,000	Series 2013-BA, Class B, 4.820%, 01/16/23 (e)		2,000
	6,533	Series 2014-AA, Class A, 2.410%, 12/15/22 (e)		6,527
	525	Series 2014-AA, Class B, 3.450%, 12/15/22 (e)		526
	3,841	Series 2015-AA, Class A, 3.160%, 11/15/24 (e)		3,831
	1,087	Series 2015-AA, Class B, 3.620%, 11/15/24 (e)		1,081
	441	Stanwich Mortgage Loan Co. LLC, Series 2013-NPL2, Class A, 3.228%, 04/16/59 (e)		437
	2,885	Sunset Mortgage Loan Co. LLC, Series 2014-NPL2, Class A, SUB, 3.721%, 11/16/44 (e)		2,867
	4,251	Trafigura Securitisation Finance plc, (Ireland), Series 2014-1A, Class A, VAR, 1.147%, 10/15/21 (e)		4,251
	957	Tricon American Homes Trust, Series 2015-SFR1, Class A, VAR, 1.447%, 05/17/32 (e)		939
		Truman Capital Mortgage Loan Trust,
	839	Series 2014-NPL1, Class A1, SUB, 3.228%, 07/25/53 (e)		837
	146	Series 2014-NPL2, Class A1, SUB, 3.125%, 06/25/54 (e)		146
	1,003	Series 2014-NPL2, Class A2, SUB, 4.000%, 06/25/54 (e)		985
	514	Series 2014-NPL3, Class A1, SUB, 3.125%, 04/25/53 (e)		512
	3,036	U.S. Residential Opportunity Fund II Trust, Series 2015-1II, Class A, 3.721%, 02/27/35 (e)		3,030
	3,876	U.S. Residential Opportunity Fund III Trust, Series 2015-1III, Class A, 3.721%, 01/27/35 (e)		3,861
	4,249	Vericrest Opportunity Loan Trust, Series 2015-NPL3, Class A1, SUB, 3.375%, 10/25/58 (e)		4,230
	739	VML LLC, Series 2014-NPL1, Class A1, VAR, 3.875%, 04/27/54 (e)		735
	956	VOLT NPL X LLC, Series 2014-NPL8, Class A1, SUB, 3.375%, 10/26/54 (e)		954
		VOLT XIX LLC,
	2,262	Series 2014-NP11, Class A1, SUB, 3.875%, 04/25/55 (e)		2,265
	400	Series 2014-NP11, Class A2, SUB, 5.000%, 04/25/55 (e)		400

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
			VOLT XXII LLC,
	2,236		Series 2015-NPL4, Class A1, SUB, 3.500%, 02/25/55 (e)		2,216
	666		Series 2015-NPL4, Class A2, SUB, 4.250%, 02/25/55 (e)		654
	2,797		VOLT XXIV LLC, Series 2015-NPL6, Class A1, SUB, 3.500%, 02/25/55 (e)		2,776
	7,992		VOLT XXV LLC, Series 2015-NPL8, Class A1, SUB, 3.500%, 06/26/45 (e)		7,881
			VOLT XXVI LLC,
	1,709		Series 2014-NPL6, Class A1, SUB, 3.125%, 09/25/43 (e)		1,706
	934		Series 2014-NPL6, Class A2, SUB, 4.250%, 09/25/43 (e)		921
	4,896		VOLT XXVII LLC, Series 2014-NPL7, Class A1, SUB, 3.375%, 08/27/57 (e)		4,882
	3,100		VOLT XXX LLC, Series 2015-NPL1, Class A1, SUB, 3.625%, 10/25/57 (e)		3,087
	2,603		VOLT XXXI LLC, Series 2015-NPL2, Class A1, SUB, 3.375%, 02/25/55 (e)		2,591
	2,669		VOLT XXXIII LLC, Series 2015-NPL5, Class A1, SUB, 3.500%, 03/25/55 (e)		2,643
	3,424		VOLT XXXV LLC, Series 2015-NPL9, Class A1, SUB, 3.500%, 06/26/45 (e)		3,417
	1,278		VOLT XXXIX LLC, Series 2015-NP13, Class A1, SUB, 4.125%, 10/25/45 (e)		1,276
			Westgate Resorts LLC,
	202		Series 2012-3A, Class A, 2.500%, 03/20/25 (e)		202
	587		Series 2013-1A, Class A, 2.250%, 08/20/25 (e)		586
	541		Series 2015-1A, Class A, 2.750%, 05/20/27 (e)		537
			World Omni Auto Receivables Trust,
	786		Series 2013-B, Class A3, 0.830%, 08/15/18		786
	413		Series 2013-B, Class A4, 1.320%, 01/15/20		413
			Total Asset-Backed Securities (Cost $465,242)		462,451
	Collateralized Mortgage Obligations — 17.8%
			Agency CMO — 13.4%
	149		Federal Home Loan Mortgage Corp. - Government National Mortgage Association, Series 8, Class ZA, 7.000%, 03/25/23		164
			Federal Home Loan Mortgage Corp. REMIC,
	4		Series 22, Class C, 9.500%, 04/15/20		4
	7		Series 23, Class F, 9.600%, 04/15/20		8
	1		Series 47, Class F, 10.000%, 06/15/20		1
	2		Series 99, Class Z, 9.500%, 01/15/21		3
	–	(h)	Series 204, Class E, HB, IF, 1,849.267%, 05/15/23		—	(h)
	–	(h)	Series 1045, Class G, HB, 1,066.208%, 02/15/21		—	(h)
	4		Series 1065, Class J, 9.000%, 04/15/21		4
	1		Series 1079, Class S, HB, IF, 33.330%, 05/15/21		1
	3		Series 1084, Class F, VAR, 1.147%, 05/15/21		3
	2		Series 1084, Class S, HB, IF, 44.339%, 05/15/21		3
	7		Series 1116, Class I, 5.500%, 08/15/21		7
	8		Series 1144, Class KB, 8.500%, 09/15/21		9
	–	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	–	(h)	Series 1196, Class B, HB, IF, 1,175.570%, 01/15/22		3
	7		Series 1250, Class J, 7.000%, 05/15/22		8
	13		Series 1343, Class LA, 8.000%, 08/15/22		15
	16		Series 1343, Class LB, 7.500%, 08/15/22		19
	28		Series 1370, Class JA, VAR, 1.347%, 09/15/22		29
	27		Series 1455, Class WB, IF, 4.577%, 12/15/22		30
	136		Series 1466, Class PZ, 7.500%, 02/15/23		151
	2		Series 1470, Class F, VAR, 1.651%, 02/15/23		2
	151		Series 1498, Class I, VAR, 1.347%, 04/15/23		155
	223		Series 1502, Class PX, 7.000%, 04/15/23		244
	25		Series 1505, Class Q, 7.000%, 05/15/23		28
	61		Series 1518, Class G, IF, 8.788%, 05/15/23		72
	19		Series 1541, Class M, HB, IF, 24.916%, 07/15/23		30
	51		Series 1541, Class O, VAR, 1.410%, 07/15/23		52
	6		Series 1570, Class F, VAR, 2.151%, 08/15/23		6
	198		Series 1573, Class PZ, 7.000%, 09/15/23		220
	117		Series 1591, Class PV, 6.250%, 10/15/23		129
	27		Series 1602, Class SA, HB, IF, 22.110%, 10/15/23		43
	522		Series 1608, Class L, 6.500%, 09/15/23		596
	350		Series 1638, Class H, 6.500%, 12/15/23		399
	244		Series 1642, Class PJ, 6.000%, 11/15/23		267

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	14	Series 1671, Class QC, IF, 10.000%, 02/15/24		21
	12	Series 1686, Class SH, IF, 18.794%, 02/15/24		18
	84	Series 1695, Class EB, 7.000%, 03/15/24		94
	17	Series 1699, Class FC, VAR, 0.797%, 03/15/24		17
	90	Series 1700, Class GA, PO, 02/15/24		86
	228	Series 1706, Class K, 7.000%, 03/15/24		255
	8	Series 1709, Class FA, VAR, 1.210%, 03/15/24		8
	26	Series 1745, Class D, 7.500%, 08/15/24		30
	503	Series 1760, Class ZD, VAR, 1.560%, 02/15/24		511
	190	Series 1798, Class F, 5.000%, 05/15/23		205
	3	Series 1807, Class G, 9.000%, 10/15/20		3
	47	Series 1829, Class ZB, 6.500%, 03/15/26		51
	47	Series 1863, Class Z, 6.500%, 07/15/26		54
	39	Series 1865, Class D, PO, 02/15/24		34
	41	Series 1890, Class H, 7.500%, 09/15/26		46
	124	Series 1899, Class ZE, 8.000%, 09/15/26		142
	7	Series 1935, Class FL, VAR, 0.897%, 02/15/27		7
	88	Series 1963, Class Z, 7.500%, 01/15/27		101
	13	Series 1970, Class PG, 7.250%, 07/15/27		14
	161	Series 1981, Class Z, 6.000%, 05/15/27		178
	62	Series 1987, Class PE, 7.500%, 09/15/27		68
	144	Series 2019, Class Z, 6.500%, 12/15/27		160
	40	Series 2033, Class SN, HB, IF, 28.507%, 03/15/24		23
	109	Series 2038, Class PN, IO, 7.000%, 03/15/28		22
	245	Series 2040, Class PE, 7.500%, 03/15/28		279
	34	Series 2043, Class CJ, 6.500%, 04/15/28		39
	169	Series 2054, Class PV, 7.500%, 05/15/28		193
	329	Series 2075, Class PH, 6.500%, 08/15/28		366
	370	Series 2075, Class PM, 6.250%, 08/15/28		413
	94	Series 2086, Class GB, 6.000%, 09/15/28		106
	153	Series 2089, Class PJ, IO, 7.000%, 10/15/28		18
	445	Series 2095, Class PE, 6.000%, 11/15/28		505
	141	Series 2125, Class JZ, 6.000%, 02/15/29		155
	33	Series 2132, Class SB, HB, IF, 29.714%, 03/15/29		61
	14	Series 2134, Class PI, IO, 6.500%, 03/15/19		1
	185	Series 2136, Class PG, 6.000%, 03/15/29		211
	54	Series 2141, Class IO, IO, 7.000%, 04/15/29		7
	53	Series 2163, Class PC, IO, 7.500%, 06/15/29		7
	537	Series 2169, Class TB, 7.000%, 06/15/29		612
	279	Series 2172, Class QC, 7.000%, 07/15/29		314
	249	Series 2176, Class OJ, 7.000%, 08/15/29		289
	143	Series 2201, Class C, 8.000%, 11/15/29		164
	138	Series 2209, Class TC, 8.000%, 01/15/30		166
	230	Series 2210, Class Z, 8.000%, 01/15/30		265
	46	Series 2224, Class CB, 8.000%, 03/15/30		55
	127	Series 2230, Class Z, 8.000%, 04/15/30		147
	101	Series 2234, Class PZ, 7.500%, 05/15/30		116
	87	Series 2247, Class Z, 7.500%, 08/15/30		100
	133	Series 2256, Class MC, 7.250%, 09/15/30		152
	215	Series 2259, Class ZM, 7.000%, 10/15/30		246
	6	Series 2261, Class ZY, 7.500%, 10/15/30		7
	29	Series 2262, Class Z, 7.500%, 10/15/30		33
	279	Series 2271, Class PC, 7.250%, 12/15/30		318
	264	Series 2283, Class K, 6.500%, 12/15/23		291
	125	Series 2296, Class PD, 7.000%, 03/15/31		145
	37	Series 2306, Class K, PO, 05/15/24		35
	86	Series 2306, Class SE, IF, IO, 8.540%, 05/15/24		10
	154	Series 2313, Class LA, 6.500%, 05/15/31		176
	224	Series 2325, Class PM, 7.000%, 06/15/31		262
	48	Series 2344, Class QG, 6.000%, 08/15/16		48
	1,272	Series 2344, Class ZD, 6.500%, 08/15/31		1,472
	101	Series 2344, Class ZJ, 6.500%, 08/15/31		114
	103	Series 2345, Class NE, 6.500%, 08/15/31		118
	19	Series 2345, Class PQ, 6.500%, 08/15/16		20
	109	Series 2351, Class PZ, 6.500%, 08/15/31		124
	907	Series 2353, Class AZ, 6.000%, 09/15/31		1,027
	23	Series 2353, Class TD, 6.000%, 09/15/16		24
	15	Series 2355, Class BP, 6.000%, 09/15/16		16
	12	Series 2359, Class PM, 6.000%, 09/15/16		12
	405	Series 2359, Class ZB, 8.500%, 06/15/31		478
	34	Series 2360, Class PG, 6.000%, 09/15/16		35
	6	Series 2363, Class PF, 6.000%, 09/15/16		6
	15	Series 2366, Class MD, 6.000%, 10/15/16		16
	201	Series 2367, Class ME, 6.500%, 10/15/31		228
	38	Series 2391, Class QR, 5.500%, 12/15/16		39
	25	Series 2394, Class MC, 6.000%, 12/15/16		25
	434	Series 2396, Class FM, VAR, 0.647%, 12/15/31		439

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	229	Series 2399, Class OH, 6.500%, 01/15/32		257
	381	Series 2399, Class TH, 6.500%, 01/15/32		425
	362	Series 2410, Class NG, 6.500%, 02/15/32		410
	135	Series 2410, Class OE, 6.375%, 02/15/32		145
	255	Series 2410, Class QS, IF, 18.988%, 02/15/32		407
	135	Series 2410, Class QX, IF, IO, 8.453%, 02/15/32		43
	282	Series 2412, Class SP, IF, 15.706%, 02/15/32		383
	424	Series 2420, Class XK, 6.500%, 02/15/32		475
	356	Series 2423, Class MC, 7.000%, 03/15/32		407
	313	Series 2423, Class MT, 7.000%, 03/15/32		360
	36	Series 2425, Class OB, 6.000%, 03/15/17		37
	654	Series 2430, Class WF, 6.500%, 03/15/32		750
	368	Series 2434, Class TC, 7.000%, 04/15/32		428
	437	Series 2435, Class CJ, 6.500%, 04/15/32		507
	299	Series 2436, Class MC, 7.000%, 04/15/32		334
	246	Series 2444, Class ES, IF, IO, 7.753%, 03/15/32		68
	166	Series 2450, Class GZ, 7.000%, 05/15/32		190
	197	Series 2450, Class SW, IF, IO, 7.803%, 03/15/32		55
	793	Series 2455, Class GK, 6.500%, 05/15/32		905
	9	Series 2458, Class QE, 5.500%, 06/15/17		9
	276	Series 2462, Class JG, 6.500%, 06/15/32		315
	623	Series 2464, Class SI, IF, IO, 7.803%, 02/15/32		150
	596	Series 2466, Class PH, 6.500%, 06/15/32		682
	296	Series 2474, Class NR, 6.500%, 07/15/32		337
	354	Series 2484, Class LZ, 6.500%, 07/15/32		406
	461	Series 2500, Class MC, 6.000%, 09/15/32		523
	15	Series 2503, Class BH, 5.500%, 09/15/17		16
	84	Series 2508, Class AQ, 5.500%, 10/15/17		87
	343	Series 2512, Class PG, 5.500%, 10/15/22		372
	190	Series 2535, Class BK, 5.500%, 12/15/22		205
	164	Series 2537, Class TE, 5.500%, 12/15/17		170
	652	Series 2543, Class YX, 6.000%, 12/15/32		730
	600	Series 2544, Class HC, 6.000%, 12/15/32		681
	734	Series 2552, Class ME, 6.000%, 01/15/33		837
	704	Series 2567, Class QD, 6.000%, 02/15/33		800
	460	Series 2568, Class KG, 5.500%, 02/15/23		500
	84	Series 2571, Class SK, HB, IF, 33.650%, 09/15/23		151
	1,741	Series 2575, Class ME, 6.000%, 02/15/33		1,905
	226	Series 2586, Class WI, IO, 6.500%, 03/15/33		45
	368	Series 2587, Class WX, 5.000%, 03/15/18		379
	481	Series 2596, Class QG, 6.000%, 03/15/33		525
	132	Series 2611, Class UH, 4.500%, 05/15/18		136
	243	Series 2617, Class GR, 4.500%, 05/15/18		250
	188	Series 2626, Class NS, IF, IO, 6.353%, 06/15/23		11
	271	Series 2631, Class LC, 4.500%, 06/15/18		280
	133	Series 2636, Class Z, 4.500%, 06/15/18		137
	186	Series 2637, Class SA, IF, IO, 5.903%, 06/15/18		10
	24	Series 2638, Class DS, IF, 8.403%, 07/15/23		27
	125	Series 2650, Class PO, PO, 12/15/32		124
	667	Series 2650, Class SO, PO, 12/15/32		649
	206	Series 2651, Class VZ, 4.500%, 07/15/18		213
	949	Series 2675, Class CK, 4.000%, 09/15/18		976
	775	Series 2684, Class PO, PO, 01/15/33		768
	97	Series 2692, Class SC, IF, 12.893%, 07/15/33		112
	292	Series 2695, Class DG, 4.000%, 10/15/18		301
	6	Series 2696, Class CO, PO, 10/15/18		6
	1,110	Series 2710, Class HB, 5.500%, 11/15/23		1,206
	718	Series 2716, Class UN, 4.500%, 12/15/23		761
	341	Series 2720, Class PC, 5.000%, 12/15/23		367
	222	Series 2744, Class PE, 5.500%, 02/15/34		234
	381	Series 2744, Class TU, 5.500%, 05/15/32		391
	9	Series 2780, Class JG, 4.500%, 04/15/19		9
	551	Series 2783, Class AT, 4.000%, 04/15/19		567
	1,380	Series 2809, Class UC, 4.000%, 06/15/19		1,425
	53	Series 2835, Class QO, PO, 12/15/32		48
	61	Series 2840, Class JO, PO, 06/15/23		60
	149	Series 2922, Class JN, 4.500%, 02/15/20		151
	412	Series 2934, Class EC, PO, 02/15/20		394
	343	Series 2934, Class HI, IO, 5.000%, 02/15/20		25
	300	Series 2934, Class KI, IO, 5.000%, 02/15/20		19
	235	Series 2958, Class QD, 4.500%, 04/15/20		242
	1,319	Series 2965, Class GD, 4.500%, 04/15/20		1,371
	29	Series 2989, Class PO, PO, 06/15/23		28
	3,476	Series 2990, Class UZ, 5.750%, 06/15/35		3,962
	1,233	Series 3004, Class EK, 5.500%, 07/15/35		1,300
	67	Series 3014, Class OD, PO, 08/15/35		62

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	944	Series 3047, Class OD, 5.500%, 10/15/35		1,066
	3,095	Series 3064, Class MC, 5.500%, 11/15/35		3,532
	17	Series 3068, Class AO, PO, 01/15/35		17
	208	Series 3068, Class QB, 4.500%, 06/15/20		214
	1,616	Series 3074, Class BH, 5.000%, 11/15/35		1,748
	364	Series 3085, Class WF, VAR, 0.997%, 08/15/35		372
	634	Series 3102, Class FB, VAR, 0.497%, 01/15/36		637
	150	Series 3102, Class HS, HB, IF, 23.844%, 01/15/36		234
	722	Series 3117, Class EO, PO, 02/15/36		674
	417	Series 3117, Class OK, PO, 02/15/36		388
	19	Series 3122, Class ZB, 6.000%, 03/15/36		21
	1,498	Series 3131, Class BK, 5.500%, 03/15/26		1,641
	122	Series 3134, Class PO, PO, 03/15/36		114
	591	Series 3138, Class PO, PO, 04/15/36		549
	31	Series 3149, Class SO, PO, 05/15/36		25
	473	Series 3151, Class UC, 5.500%, 08/15/35		499
	515	Series 3152, Class MO, PO, 03/15/36		475
	134	Series 3171, Class MO, PO, 06/15/36		125
	474	Series 3179, Class OA, PO, 07/15/36		430
	113	Series 3194, Class SA, IF, IO, 6.903%, 07/15/36		18
	493	Series 3211, Class SO, PO, 09/15/36		437
	228	Series 3218, Class AO, PO, 09/15/36		212
	460	Series 3219, Class DI, IO, 6.000%, 04/15/36		91
	1,224	Series 3229, Class HE, 5.000%, 10/15/26		1,325
	502	Series 3232, Class ST, IF, IO, 6.503%, 10/15/36		84
	195	Series 3233, Class OP, PO, 05/15/36		179
	315	Series 3256, Class PO, PO, 12/15/36		295
	670	Series 3260, Class CS, IF, IO, 5.943%, 01/15/37		97
	353	Series 3261, Class OA, PO, 01/15/37		328
	168	Series 3274, Class JO, PO, 02/15/37		153
	145	Series 3275, Class FL, VAR, 0.637%, 02/15/37		145
	693	Series 3290, Class SB, IF, IO, 6.253%, 03/15/37		108
	1,315	Series 3315, Class HZ, 6.000%, 05/15/37		1,408
	59	Series 3318, Class AO, PO, 05/15/37		55
	101	Series 3326, Class JO, PO, 06/15/37		93
	361	Series 3331, Class PO, PO, 06/15/37		333
	323	Series 3385, Class SN, IF, IO, 5.803%, 11/15/37		46
	545	Series 3387, Class SA, IF, IO, 6.223%, 11/15/37		84
	842	Series 3404, Class SC, IF, IO, 5.803%, 01/15/38		121
	4,437	Series 3422, Class AI, IO, SUB, 0.250%, 01/15/38		58
	511	Series 3424, Class PI, IF, IO, 6.603%, 04/15/38		86
	1,028	Series 3481, Class SJ, IF, IO, 5.653%, 08/15/38		136
	733	Series 3511, Class SA, IF, IO, 5.803%, 02/15/39		134
	240	Series 3549, Class FA, VAR, 1.397%, 07/15/39		245
	284	Series 3607, Class BO, PO, 04/15/36		262
	880	Series 3607, Class OP, PO, 07/15/37		782
	472	Series 3607, Class PO, PO, 05/15/37		441
	134	Series 3611, Class PO, PO, 07/15/34		123
	373	Series 3621, Class BO, PO, 01/15/40		348
	440	Series 3720, Class A, 4.500%, 09/15/25		473
	1,020	Series 3739, Class LI, IO, 4.000%, 03/15/34		27
	2,806	Series 3747, Class HI, IO, 4.500%, 07/15/37		184
	1,000	Series 3747, Class PY, 4.000%, 10/15/40		1,056
	1,558	Series 3759, Class HI, IO, 4.000%, 08/15/37		79
	1,414	Series 3760, Class GI, IO, 4.000%, 10/15/37		84
	9,334	Series 3774, Class EW, 3.500%, 12/15/25		9,784
	5,000	Series 3793, Class AB, 3.500%, 01/15/26		5,316
	65	Series 3798, Class BF, VAR, 0.497%, 06/15/24		65
	470	Series 3804, Class FN, VAR, 0.647%, 03/15/39		473
	2,550	Series 3819, Class ZQ, 6.000%, 04/15/36		2,887
	574	Series 3852, Class QN, IF, 5.500%, 05/15/41		635
	1,714	Series 3852, Class TP, IF, 5.500%, 05/15/41		1,906
	1,962	Series 3920, Class LP, 5.000%, 01/15/34		2,166
	1,168	Series 3925, Class FL, VAR, 0.647%, 01/15/41		1,178
	896	Series 3957, Class B, 4.000%, 11/15/41		949
	1,212	Series 3966, Class NA, 4.000%, 12/15/41		1,306
	667	Series 3997, Class PF, VAR, 0.647%, 11/15/39		669
	2,618	Series 4048, Class FJ, VAR, 0.593%, 07/15/37		2,616

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	2,000		Series 4217, Class KY, 3.000%, 06/15/43		1,949
	6,734		Series 4219, Class JA, 3.500%, 08/15/39		7,051
	2,501		Series 4240, Class B, 3.000%, 08/15/33		2,477
	3,684		Series 4251, Class KW, 2.500%, 04/15/28		3,520
	6,186		Series 4374, Class NC, SUB, 1.750%, 02/15/46		6,416
			Federal Home Loan Mortgage Corp. STRIPS,
	1		Series 134, Class B, IO, 9.000%, 04/01/22		—	(h)
	954		Series 233, Class 11, IO, 5.000%, 09/15/35		167
	1,357		Series 233, Class 13, IO, 5.000%, 09/15/35		241
	214		Series 243, Class 16, IO, 4.500%, 11/15/20		11
	497		Series 243, Class 17, IO, 4.500%, 12/15/20		29
	7,631		Series 262, Class 35, 3.500%, 07/15/42		7,783
	2,097		Series 264, Class F1, VAR, 0.747%, 07/15/42		2,087
	8,242		Series 299, Class 300, 3.000%, 01/15/43		8,285
	2,277		Series 310, Class PO, PO, 2.922%, 09/15/43		1,774
	4,529		Series 323, Class 300, 3.000%, 01/15/44		4,454
			Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	470		Series T-41, Class 3A, VAR, 6.053%, 07/25/32		537
	279		Series T-51, Class 2A, VAR, 7.500%, 08/25/42		345
	1,644		Series T-54, Class 2A, 6.500%, 02/25/43		1,932
	495		Series T-54, Class 3A, 7.000%, 02/25/43		580
	192		Series T-58, Class APO, PO, 09/25/43		162
	419		Series T-59, Class 1AP, PO, 10/25/43		339
	1,709		Series T-76, Class 2A, VAR, 3.135%, 10/25/37		1,722
			Federal National Mortgage Association - ACES,
	3,227		Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		3,486
	1,416		Series 2011-M2, Class A2, 3.645%, 04/25/21		1,516
	8,500		Series 2011-M2, Class A3, 3.764%, 04/25/21		9,206
	4,100		Series 2012-M9, Class A2, 2.482%, 04/25/22		4,142
	241		Series 2012-M11, Class FA, VAR, 0.737%, 08/25/19		242
	1,878		Series 2013-M7, Class A2, 2.280%, 12/27/22		1,862
	8,000		Series 2013-M9, Class A2, VAR, 2.389%, 01/25/23		7,982
	4,200		Series 2013-M13, Class A2, VAR, 2.624%, 04/25/23		4,218
	2,664		Series 2014-M2, Class A2, VAR, 3.513%, 12/25/23		2,830
	2,500		Series 2014-M3, Class A2, VAR, 3.501%, 01/25/24		2,652
	254		Series 2014-M5, Class FA, VAR, 0.582%, 01/25/17		254
	7,700		Series 2014-M12, Class ASV2, VAR, 2.614%, 10/25/21		7,836
	3,818		Series 2014-M13, Class A2, VAR, 3.021%, 08/25/24		3,897
	5,740		Series 2015-M7, Class A2, 2.590%, 12/25/24		5,746
	6,000		Series 2015-M8, Class A2, VAR, 2.900%, 01/25/25		6,061
	8,555		Series 2015-M10, Class A2, VAR, 3.092%, 04/25/27		8,768
			Federal National Mortgage Association Grantor Trust,
	779		Series 2002-T19, Class A2, 7.000%, 07/25/42		888
	625		Series 2004-T3, Class 1A3, 7.000%, 02/25/44		715
			Federal National Mortgage Association REMIC,
	2		Series 1988-7, Class Z, 9.250%, 04/25/18		2
	7		Series 1989-70, Class G, 8.000%, 10/25/19		8
	3		Series 1989-78, Class H, 9.400%, 11/25/19		3
	6		Series 1989-83, Class H, 8.500%, 11/25/19		6
	4		Series 1989-89, Class H, 9.000%, 11/25/19		5
	5		Series 1990-1, Class D, 8.800%, 01/25/20		5
	1		Series 1990-60, Class K, 5.500%, 06/25/20		1
	2		Series 1990-63, Class H, 9.500%, 06/25/20		2
	1		Series 1990-93, Class G, 5.500%, 08/25/20		1
	–	(h)	Series 1990-94, Class H, HB, 505.000%, 08/25/20		—	(h)

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	–	(h)	Series 1990-95, Class J, HB, 1,118.040%, 08/25/20		—	(h)
	11		Series 1990-102, Class J, 6.500%, 08/25/20		11
	11		Series 1990-120, Class H, 9.000%, 10/25/20		13
	1		Series 1990-134, Class SC, HB, IF, 21.269%, 11/25/20		2
	–	(h)	Series 1990-140, Class K, HB, 652.145%, 12/25/20		1
	–	(h)	Series 1991-7, Class K, HB, 908.500%, 02/25/21		—	(h)
	5		Series 1991-24, Class Z, 5.000%, 03/25/21		5
	1		Series 1992-101, Class J, 7.500%, 06/25/22		1
	26		Series 1992-136, Class PK, 6.000%, 08/25/22		28
	24		Series 1992-143, Class MA, 5.500%, 09/25/22		26
	70		Series 1992-163, Class M, 7.750%, 09/25/22		78
	109		Series 1992-188, Class PZ, 7.500%, 10/25/22		123
	43		Series 1993-21, Class KA, 7.700%, 03/25/23		48
	64		Series 1993-25, Class J, 7.500%, 03/25/23		71
	17		Series 1993-27, Class SA, IF, 15.500%, 02/25/23		24
	25		Series 1993-62, Class SA, IF, 19.014%, 04/25/23		37
	13		Series 1993-165, Class SD, IF, 13.476%, 09/25/23		17
	29		Series 1993-165, Class SK, IF, 12.500%, 09/25/23		33
	20		Series 1993-179, Class SB, HB, IF, 26.902%, 10/25/23		34
	14		Series 1993-179, Class SC, IF, 10.500%, 10/25/23		17
	17		Series 1993-199, Class FA, VAR, 0.771%, 10/25/23		17
	37		Series 1993-205, Class H, PO, 09/25/23		36
	60		Series 1993-225, Class UB, 6.500%, 12/25/23		67
	20		Series 1993-230, Class FA, VAR, 0.821%, 12/25/23		21
	52		Series 1993-247, Class FE, VAR, 1.221%, 12/25/23		53
	24		Series 1993-247, Class SU, IF, 12.299%, 12/25/23		32
	213		Series 1994-37, Class L, 6.500%, 03/25/24		244
	1,075		Series 1994-40, Class Z, 6.500%, 03/25/24		1,167
	49		Series 1995-2, Class Z, 8.500%, 01/25/25		56
	253		Series 1995-19, Class Z, 6.500%, 11/25/23		290
	232		Series 1996-14, Class SE, IF, IO, 8.690%, 08/25/23		52
	2		Series 1996-27, Class FC, VAR, 0.721%, 03/25/17		2
	20		Series 1996-59, Class J, 6.500%, 08/25/22		21
	196		Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		6
	16		Series 1997-27, Class J, 7.500%, 04/18/27		18
	36		Series 1997-29, Class J, 7.500%, 04/20/27		42
	243		Series 1997-39, Class PD, 7.500%, 05/20/27		283
	20		Series 1997-42, Class ZC, 6.500%, 07/18/27		23
	404		Series 1997-61, Class ZC, 7.000%, 02/25/23		449
	67		Series 1997-81, Class PI, IO, 7.000%, 12/18/27		8
	9		Series 1998-4, Class C, PO, 04/25/23		9
	118		Series 1998-36, Class ZB, 6.000%, 07/18/28		133
	75		Series 1998-43, Class SA, IF, IO, 18.193%, 04/25/23		15
	155		Series 1998-66, Class SB, IF, IO, 7.929%, 12/25/28		28
	78		Series 1999-17, Class C, 6.350%, 04/25/29		86
	330		Series 1999-18, Class Z, 5.500%, 04/18/29		365
	51		Series 1999-38, Class SK, IF, IO, 7.829%, 08/25/23		5
	38		Series 1999-52, Class NS, HB, IF, 22.761%, 10/25/23		59
	107		Series 1999-62, Class PB, 7.500%, 12/18/29		125
	348		Series 2000-2, Class ZE, 7.500%, 02/25/30		397
	217		Series 2000-20, Class SA, IF, IO, 8.879%, 07/25/30		61

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	27	Series 2000-52, Class IO, IO, 8.500%, 01/25/31		5
	98	Series 2001-4, Class PC, 7.000%, 03/25/21		106
	75	Series 2001-7, Class PF, 7.000%, 03/25/31		85
	215	Series 2001-30, Class PM, 7.000%, 07/25/31		244
	246	Series 2001-33, Class ID, IO, 6.000%, 07/25/31		31
	219	Series 2001-36, Class DE, 7.000%, 08/25/31		253
	533	Series 2001-44, Class MY, 7.000%, 09/25/31		610
	81	Series 2001-44, Class PD, 7.000%, 09/25/31		92
	92	Series 2001-44, Class PU, 7.000%, 09/25/31		106
	687	Series 2001-48, Class Z, 6.500%, 09/25/21		762
	58	Series 2001-49, Class Z, 6.500%, 09/25/31		67
	67	Series 2001-52, Class KB, 6.500%, 10/25/31		75
	743	Series 2001-61, Class Z, 7.000%, 11/25/31		836
	15	Series 2001-71, Class MB, 6.000%, 12/25/16		15
	25	Series 2001-71, Class QE, 6.000%, 12/25/16		26
	25	Series 2001-72, Class SX, IF, 16.951%, 12/25/31		35
	51	Series 2001-74, Class MB, 6.000%, 12/25/16		52
	62	Series 2002-1, Class HC, 6.500%, 02/25/22		69
	80	Series 2002-1, Class SA, HB, IF, 24.469%, 02/25/32		137
	52	Series 2002-1, Class UD, HB, IF, 23.726%, 12/25/23		81
	52	Series 2002-2, Class UC, 6.000%, 02/25/17		53
	81	Series 2002-3, Class OG, 6.000%, 02/25/17		82
	21	Series 2002-7, Class OG, 6.000%, 03/25/17		21
	43	Series 2002-7, Class TG, 6.000%, 03/25/17		43
	31	Series 2002-10, Class SB, IF, 18.670%, 03/25/17		33
	796	Series 2002-13, Class SJ, IF, IO, 1.600%, 03/25/32		48
	12	Series 2002-13, Class ST, IF, 10.000%, 03/25/32		15
	20	Series 2002-19, Class PE, 6.000%, 04/25/17		20
	23	Series 2002-21, Class LO, PO, 04/25/32		21
	228	Series 2002-21, Class PE, 6.500%, 04/25/32		258
	83	Series 2002-24, Class AJ, 6.000%, 04/25/17		86
	37	Series 2002-25, Class SG, IF, 18.790%, 05/25/17		41
	600	Series 2002-28, Class PK, 6.500%, 05/25/32		669
	135	Series 2002-37, Class Z, 6.500%, 06/25/32		156
	73	Series 2002-42, Class C, 6.000%, 07/25/17		75
	778	Series 2002-48, Class GH, 6.500%, 08/25/32		894
	155	Series 2002-62, Class ZE, 5.500%, 11/25/17		160
	48	Series 2002-63, Class KC, 5.000%, 10/25/17		49
	128	Series 2002-77, Class S, IF, 14.078%, 12/25/32		176
	454	Series 2002-83, Class CS, 6.881%, 08/25/23		501
	252	Series 2002-94, Class BK, 5.500%, 01/25/18		257
	187	Series 2003-3, Class HJ, 5.000%, 02/25/18		192
	2,549	Series 2003-22, Class UD, 4.000%, 04/25/33		2,673
	815	Series 2003-33, Class IA, IO, 6.500%, 05/25/33		144
	511	Series 2003-34, Class AX, 6.000%, 05/25/33		582
	1,516	Series 2003-34, Class ED, 6.000%, 05/25/33		1,701
	33	Series 2003-35, Class UC, 3.750%, 05/25/33		35
	97	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		24
	853	Series 2003-39, Class LW, 5.500%, 05/25/23		921
	599	Series 2003-41, Class PE, 5.500%, 05/25/23		643

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	163	Series 2003-42, Class GB, 4.000%, 05/25/33		174
	344	Series 2003-47, Class PE, 5.750%, 06/25/33		390
	136	Series 2003-52, Class SX, HB, IF, 22.287%, 10/25/31		208
	106	Series 2003-64, Class SX, IF, 13.268%, 07/25/33		131
	485	Series 2003-71, Class DS, IF, 7.209%, 08/25/33		530
	842	Series 2003-72, Class IE, IO, 5.500%, 08/25/33		157
	73	Series 2003-74, Class SH, IF, 9.772%, 08/25/33		87
	178	Series 2003-76, Class GQ, 4.500%, 08/25/18		184
	344	Series 2003-80, Class SY, IF, IO, 7.429%, 06/25/23		17
	311	Series 2003-81, Class LC, 4.500%, 09/25/18		322
	807	Series 2003-83, Class PG, 5.000%, 06/25/23		847
	190	Series 2003-91, Class SD, IF, 12.132%, 09/25/33		235
	1,160	Series 2003-116, Class SB, IF, IO, 7.379%, 11/25/33		256
	189	Series 2003-128, Class NG, 4.000%, 01/25/19		194
	65	Series 2003-130, Class SX, IF, 11.189%, 01/25/34		80
	95	Series 2003-132, Class OA, PO, 08/25/33		90
	1,088	Series 2004-4, Class QI, IF, IO, 6.879%, 06/25/33		120
	103	Series 2004-4, Class QM, IF, 13.758%, 06/25/33		123
	435	Series 2004-10, Class SC, HB, IF, 27.716%, 02/25/34		562
	354	Series 2004-25, Class PC, 5.500%, 01/25/34		370
	769	Series 2004-25, Class SA, IF, 18.917%, 04/25/34		1,132
	1,129	Series 2004-27, Class HB, 4.000%, 05/25/19		1,168
	243	Series 2004-36, Class PC, 5.500%, 02/25/34		254
	1,082	Series 2004-36, Class SA, IF, 18.917%, 05/25/34		1,509
	315	Series 2004-36, Class SN, IF, 13.758%, 07/25/33		382
	279	Series 2004-37, Class AG, 4.500%, 11/25/32		281
	431	Series 2004-46, Class QB, HB, IF, 23.116%, 05/25/34		636
	1,342	Series 2004-46, Class SK, IF, 15.892%, 05/25/34		1,765
	212	Series 2004-51, Class SY, IF, 13.798%, 07/25/34		289
	236	Series 2004-53, Class NC, 5.500%, 07/25/24		257
	290	Series 2004-59, Class BG, PO, 12/25/32		266
	693	Series 2004-61, Class FH, VAR, 1.021%, 11/25/32		711
	91	Series 2004-61, Class SK, IF, 8.500%, 11/25/32		109
	129	Series 2004-76, Class CL, 4.000%, 10/25/19		133
	366	Series 2004-79, Class SP, IF, 19.192%, 11/25/34		476
	57	Series 2004-81, Class AC, 4.000%, 11/25/19		59
	58	Series 2005-52, Class PA, 6.500%, 06/25/35		61
	1,161	Series 2005-56, Class S, IF, IO, 6.489%, 07/25/35		230
	280	Series 2005-66, Class SG, IF, 16.823%, 07/25/35		393
	456	Series 2005-68, Class BC, 5.250%, 06/25/35		487
	1,222	Series 2005-68, Class PG, 5.500%, 08/25/35		1,365
	617	Series 2005-68, Class UC, 5.000%, 06/25/35		651
	515	Series 2005-74, Class CS, IF, 19.412%, 05/25/35		729
	4,207	Series 2005-84, Class XM, 5.750%, 10/25/35		4,541
	1,741	Series 2005-109, Class PC, 6.000%, 12/25/35		1,925
	4,326	Series 2005-110, Class GL, 5.500%, 12/25/35		5,070
	1,229	Series 2005-110, Class MN, 5.500%, 06/25/35		1,294
	142	Series 2005-116, Class PB, 6.000%, 04/25/34		144
	103	Series 2006-15, Class OT, PO, 01/25/36		100
	392	Series 2006-16, Class OA, PO, 03/25/36		365
	553	Series 2006-22, Class AO, PO, 04/25/36		514
	161	Series 2006-23, Class KO, PO, 04/25/36		148

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	1,435	Series 2006-39, Class WC, 5.500%, 01/25/36		1,565
	836	Series 2006-44, Class GO, PO, 06/25/36		764
	1,902	Series 2006-44, Class P, PO, 12/25/33		1,745
	1,234	Series 2006-46, Class UC, 5.500%, 12/25/35		1,332
	1,241	Series 2006-53, Class US, IF, IO, 6.359%, 06/25/36		217
	1,156	Series 2006-56, Class FC, VAR, 0.511%, 07/25/36		1,161
	651	Series 2006-56, Class PO, PO, 07/25/36		584
	759	Series 2006-58, Class AP, PO, 07/25/36		704
	94	Series 2006-58, Class FL, VAR, 0.681%, 07/25/36		95
	378	Series 2006-58, Class PO, PO, 07/25/36		349
	362	Series 2006-59, Class QO, PO, 01/25/33		356
	3,682	Series 2006-60, Class DZ, 6.500%, 07/25/36		4,402
	564	Series 2006-65, Class QO, PO, 07/25/36		516
	120	Series 2006-72, Class TO, PO, 08/25/36		112
	2,266	Series 2006-77, Class PC, 6.500%, 08/25/36		2,583
	461	Series 2006-79, Class DO, PO, 08/25/36		420
	401	Series 2006-90, Class AO, PO, 09/25/36		372
	167	Series 2006-109, Class PO, PO, 11/25/36		155
	1,126	Series 2006-110, Class PO, PO, 11/25/36		1,036
	107	Series 2006-111, Class EO, PO, 11/25/36		100
	693	Series 2006-118, Class A2, VAR, 0.281%, 12/25/36		691
	116	Series 2006-119, Class PO, PO, 12/25/36		107
	2,177	Series 2006-124, Class HB, VAR, 5.931%, 11/25/36		2,290
	974	Series 2006-128, Class BP, 5.500%, 01/25/37		1,039
	693	Series 2006-130, Class GI, IO, 6.500%, 07/25/32		123
	785	Series 2007-7, Class SG, IF, IO, 6.279%, 08/25/36		233
	1,749	Series 2007-14, Class ES, IF, IO, 6.219%, 03/25/37		272
	164	Series 2007-15, Class NO, PO, 03/25/22		158
	542	Series 2007-16, Class FC, VAR, 0.971%, 03/25/37		574
	179	Series 2007-42, Class AO, PO, 05/25/37		172
	256	Series 2007-48, Class PO, PO, 05/25/37		232
	741	Series 2007-54, Class FA, VAR, 0.621%, 06/25/37		747
	4,143	Series 2007-60, Class AX, IF, IO, 6.929%, 07/25/37		718
	180	Series 2007-77, Class FG, VAR, 0.721%, 03/25/37		182
	1,321	Series 2007-81, Class GE, 6.000%, 08/25/37		1,484
	299	Series 2007-84, Class PG, 6.000%, 12/25/36		303
	2,843	Series 2007-88, Class VI, IF, IO, 6.319%, 09/25/37		569
	1,935	Series 2007-91, Class ES, IF, IO, 6.239%, 10/25/37		297
	1,353	Series 2007-97, Class KI, IO, 7.000%, 05/25/33		171
	1,820	Series 2007-101, Class A2, VAR, 0.447%, 06/27/36		1,819
	464	Series 2007-106, Class A7, VAR, 6.103%, 10/25/37		513
	3,478	Series 2007-114, Class A6, VAR, 0.421%, 10/27/37		3,459
	1,831	Series 2007-116, Class HI, IO, VAR, 1.555%, 01/25/38		128
	4	Series 2007-118, Class IO, IO, 6.000%, 06/25/36		—	(h)
	965	Series 2008-1, Class BI, IF, IO, 5.689%, 02/25/38		139
	644	Series 2008-10, Class XI, IF, IO, 6.009%, 03/25/38		96
	332	Series 2008-16, Class IS, IF, IO, 5.979%, 03/25/38		57
	354	Series 2008-19, Class IC, IO, 5.000%, 03/25/23		17
	390	Series 2008-24, Class DY, 5.000%, 04/25/23		405
	405	Series 2008-27, Class SN, IF, IO, 6.679%, 04/25/38		67
	168	Series 2008-39, Class CI, IO, 4.500%, 05/25/18		7
	299	Series 2008-42, Class AO, PO, 09/25/36		284
	28	Series 2008-44, Class PO, PO, 05/25/38		26
	463	Series 2008-47, Class SI, IF, IO, 6.279%, 06/25/23		47
	539	Series 2008-53, Class CI, IF, IO, 6.979%, 07/25/38		118
	185	Series 2008-76, Class GF, VAR, 0.871%, 09/25/23		186
	1,419	Series 2008-80, Class SA, IF, IO, 5.629%, 09/25/38		195
	967	Series 2008-81, Class SB, IF, IO, 5.629%, 09/25/38		140

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	1,177		Series 2009-6, Class GS, IF, IO, 6.329%, 02/25/39		257
	499		Series 2009-9, Class IO, IO, 5.000%, 02/25/24		39
	412		Series 2009-18, Class IO, IO, 5.000%, 03/25/24		26
	2,234		Series 2009-19, Class IP, IO, 5.500%, 10/25/36		430
	909		Series 2009-60, Class HT, 6.000%, 08/25/39		1,032
	605		Series 2009-62, Class HJ, 6.000%, 05/25/39		677
	922		Series 2009-70, Class CO, PO, 01/25/37		859
	516		Series 2009-99, Class SC, IF, IO, 5.959%, 12/25/39		62
	907		Series 2009-103, Class MB, VAR, 2.474%, 12/25/39		956
	753		Series 2010-45, Class BD, 4.500%, 11/25/38		782
	1,073		Series 2010-49, Class SC, IF, 12.218%, 03/25/40		1,329
	664		Series 2010-64, Class DM, 5.000%, 06/25/40		728
	811		Series 2010-71, Class HJ, 5.500%, 07/25/40		920
	2,533		Series 2010-147, Class SA, IF, IO, 6.309%, 01/25/41		573
	735		Series 2010-148, Class MA, 4.000%, 02/25/39		764
	802		Series 2011-2, Class WA, VAR, 5.818%, 02/25/51		879
	1,317		Series 2011-22, Class MA, 6.500%, 04/25/38		1,458
	2,828		Series 2011-30, Class LS, IO, VAR, 1.790%, 04/25/41		209
	2,500		Series 2011-31, Class DB, 3.500%, 04/25/31		2,673
	7,500		Series 2011-44, Class EB, 3.000%, 05/25/26		7,764
	631		Series 2011-75, Class FA, VAR, 0.771%, 08/25/41		639
	1,311		Series 2011-118, Class MT, 7.000%, 11/25/41		1,545
	1,788		Series 2011-130, Class CA, 6.000%, 12/25/41		2,065
	1,009		Series 2012-14, Class FB, VAR, 0.671%, 08/25/37		1,013
	6,182		Series 2012-47, Class HF, VAR, 0.621%, 05/25/27		6,229
	3,000		Series 2012-66, Class CB, 3.000%, 06/25/32		2,855
	4,690		Series 2012-99, Class AE, 2.500%, 05/25/39		4,665
	3,063		Series 2012-108, Class F, VAR, 0.721%, 10/25/42		3,090
	3,751		Series 2012-137, Class CF, VAR, 0.521%, 08/25/41		3,752
	2,000		Series 2013-81, Class TA, 3.000%, 02/25/43		1,907
	1,694		Series 2013-90, Class PM, 3.500%, 09/25/43		1,745
	2,165		Series 2013-92, Class PO, PO, 09/25/43		1,688
	3,349		Series 2013-101, Class AE, 3.000%, 10/25/33		3,335
	3,304		Series 2013-101, Class DO, PO, 10/25/43		2,588
	3,000		Series 2013-101, Class E, 3.000%, 10/25/33		3,027
	3,500		Series 2013-103, Class VG, 3.000%, 03/25/30		3,396
	4,000		Series 2013-108, Class GU, 3.000%, 10/25/33		3,880
	4,319		Series 2013-128, Class PO, PO, 12/25/43		3,656
	–	(h)	Series G-17, Class S, HB, VAR, 1,058.144%, 06/25/21		2
	12		Series G-28, Class S, IF, 14.879%, 09/25/21		15
	17		Series G-35, Class M, 8.750%, 10/25/21		19
	5		Series G-51, Class SA, HB, IF, 24.856%, 12/25/21		7
	–	(h)	Series G92-27, Class SQ, HB, IF, 11,774.416%, 05/25/22		—	(h)
	92		Series G92-35, Class E, 7.500%, 07/25/22		102
	–	(h)	Series G92-35, Class G, HB, 1,184.775%, 07/25/22		2
	11		Series G92-42, Class Z, 7.000%, 07/25/22		12
	120		Series G92-44, Class ZQ, 8.000%, 07/25/22		124
	15		Series G92-52, Class FD, VAR, 0.242%, 09/25/22		15
	95		Series G92-54, Class ZQ, 7.500%, 09/25/22		104
	14		Series G92-59, Class F, VAR, 1.351%, 10/25/22		14
	28		Series G92-61, Class Z, 7.000%, 10/25/22		31
	20		Series G92-62, Class B, PO, 10/25/22		19

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	98		Series G93-1, Class KA, 7.900%, 01/25/23		111
	23		Series G93-5, Class Z, 6.500%, 02/25/23		25
	30		Series G93-14, Class J, 6.500%, 03/25/23		33
	68		Series G93-17, Class SI, IF, 6.000%, 04/25/23		78
	61		Series G93-27, Class FD, VAR, 1.101%, 08/25/23		62
	14		Series G93-37, Class H, PO, 09/25/23		13
	31		Series G95-1, Class C, 8.800%, 01/25/25		35
			Federal National Mortgage Association REMIC Trust,
	761		Series 2003-W1, Class 1A1, VAR, 5.741%, 12/25/42		859
	309		Series 2003-W1, Class 2A, VAR, 6.411%, 12/25/42		358
	98		Series 2003-W4, Class 2A, VAR, 6.356%, 10/25/42		113
	39		Series 2007-W7, Class 1A4, HB, IF, 37.854%, 07/25/37		62
	1,633		Series 2009-W1, Class A, 6.000%, 12/25/49		1,888
			Federal National Mortgage Association STRIPS,
	1		Series 23, Class 2, IO, 10.000%, 09/25/17		—	(h)
	–	(h)	Series 50, Class 2, IO, 10.500%, 03/25/19		—	(h)
	9		Series 218, Class 2, IO, 7.500%, 04/25/23		2
	10		Series 265, Class 2, 9.000%, 03/25/24		12
	108		Series 329, Class 1, PO, 2.327%, 01/25/33		100
	200		Series 339, Class 18, IO, 4.500%, 07/25/18		8
	282		Series 339, Class 21, IO, 4.500%, 08/25/18		9
	136		Series 339, Class 28, IO, 5.500%, 08/25/18		6
	148		Series 345, Class 6, IO, VAR, 5.000%, 12/25/33		30
	511		Series 351, Class 7, IO, VAR, 5.000%, 04/25/34		109
	422		Series 355, Class 11, IO, 6.000%, 07/25/34		80
	131		Series 355, Class 31, IO, VAR, 4.500%, 12/25/18		6
	712		Series 365, Class 8, IO, 5.500%, 05/25/36		156
	70		Series 368, Class 3, IO, 4.500%, 11/25/20		4
	361		Series 374, Class 5, IO, 5.500%, 08/25/36		81
	179		Series 383, Class 32, IO, 6.000%, 01/25/38		34
	471		Series 383, Class 33, IO, 6.000%, 01/25/38		89
	125		Series 393, Class 6, IO, 5.500%, 04/25/37		25
			Federal National Mortgage Association Trust,
	207		Series 2004-W1, Class 2A2, 7.000%, 12/25/33		242
	536		Series 2004-W2, Class 2A2, 7.000%, 02/25/44		621
	740		Series 2004-W15, Class 2AF, VAR, 0.471%, 08/25/44		736
	2,001		Series 2005-W3, Class 2AF, VAR, 0.441%, 03/25/45		2,007
	678		Series 2006-W2, Class 1AF1, VAR, 0.441%, 02/25/46		678
			Government National Mortgage Association,
	1,072		Series 1994-7, Class PQ, 6.500%, 10/16/24		1,214
	749		Series 1999-4, Class ZB, 6.000%, 02/20/29		837
	76		Series 1999-30, Class S, IF, IO, 8.403%, 08/16/29		20
	169		Series 1999-40, Class ZW, 7.500%, 11/20/29		195
	112		Series 2000-9, Class Z, 8.000%, 06/20/30		133
	1,013		Series 2000-9, Class ZJ, 8.500%, 02/16/30		1,193
	193		Series 2000-12, Class ST, HB, IF, 38.535%, 02/16/30		301
	1,407		Series 2000-21, Class Z, 9.000%, 03/16/30		1,711
	217		Series 2000-31, Class Z, 9.000%, 10/20/30		250
	130		Series 2000-35, Class ZA, 9.000%, 11/20/30		139
	12		Series 2000-36, Class IK, IO, 9.000%, 11/16/30		2
	61		Series 2001-6, Class SD, IF, IO, 8.353%, 03/16/31		21
	155		Series 2001-35, Class SA, IF, IO, 8.053%, 08/16/31		53
	138		Series 2001-36, Class S, IF, IO, 7.853%, 08/16/31		48
	170		Series 2002-3, Class SP, IF, IO, 7.193%, 01/16/32		48
	649		Series 2002-24, Class AG, IF, IO, 7.753%, 04/16/32		147
	57		Series 2002-24, Class SB, IF, 11.630%, 04/16/32		79

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	1,310	Series 2002-31, Class SE, IF, IO, 7.303%, 04/16/30		260
	395	Series 2002-40, Class UK, 6.500%, 06/20/32		458
	20	Series 2002-41, Class SV, IF, 9.000%, 06/16/32		26
	1,487	Series 2002-45, Class QE, 6.500%, 06/20/32		1,703
	511	Series 2002-47, Class PG, 6.500%, 07/16/32		600
	954	Series 2002-47, Class ZA, 6.500%, 07/20/32		1,090
	824	Series 2002-52, Class GH, 6.500%, 07/20/32		965
	224	Series 2002-70, Class PS, IF, IO, 7.493%, 08/20/32		12
	949	Series 2002-75, Class PB, 6.000%, 11/20/32		1,112
	641	Series 2003-11, Class SK, IF, IO, 7.503%, 02/16/33		115
	280	Series 2003-12, Class SP, IF, IO, 7.493%, 02/20/33		78
	56	Series 2003-24, Class PO, PO, 03/16/33		51
	1,319	Series 2003-40, Class TJ, 6.500%, 03/20/33		1,525
	753	Series 2003-46, Class MG, 6.500%, 05/20/33		873
	721	Series 2003-46, Class TC, 6.500%, 03/20/33		817
	255	Series 2003-52, Class AP, PO, 06/16/33		227
	1,326	Series 2003-58, Class BE, 6.500%, 01/20/33		1,505
	76	Series 2003-90, Class PO, PO, 10/20/33		68
	924	Series 2003-112, Class SA, IF, IO, 6.353%, 12/16/33		205
	350	Series 2003-112, Class TS, IF, IO, 6.743%, 10/20/32		9
	366	Series 2004-28, Class S, IF, 19.121%, 04/16/34		543
	127	Series 2004-73, Class AE, IF, 14.449%, 08/17/34		157
	1,372	Series 2004-90, Class SI, IF, IO, 5.893%, 10/20/34		221
	251	Series 2005-35, Class FL, VAR, 0.557%, 03/20/32		252
	14	Series 2005-39, Class KI, IO, 5.500%, 03/20/34		—	(h)
	2,379	Series 2005-58, Class NI, IO, 5.500%, 08/20/35		448
	231	Series 2005-68, Class DP, IF, 15.959%, 06/17/35		324
	3,294	Series 2005-68, Class KI, IF, IO, 6.093%, 09/20/35		628
	440	Series 2005-91, Class PI, IO, 6.000%, 12/20/35		84
	220	Series 2006-16, Class OP, PO, 03/20/36		202
	578	Series 2006-38, Class SW, IF, IO, 6.293%, 06/20/36		65
	2,493	Series 2006-38, Class ZK, 6.500%, 08/20/36		2,912
	722	Series 2006-59, Class SD, IF, IO, 6.493%, 10/20/36		132
	1,171	Series 2006-65, Class SA, IF, IO, 6.593%, 11/20/36		228
	1,838	Series 2007-17, Class JI, IF, IO, 6.613%, 04/16/37		376
	197	Series 2007-17, Class JO, PO, 04/16/37		182
	1,070	Series 2007-19, Class SD, IF, IO, 5.993%, 04/20/37		179
	986	Series 2007-26, Class SC, IF, IO, 5.993%, 05/20/37		179
	808	Series 2007-27, Class SA, IF, IO, 5.993%, 05/20/37		132
	240	Series 2007-28, Class BO, PO, 05/20/37		217
	686	Series 2007-36, Class SE, IF, IO, 6.273%, 06/16/37		135
	1,860	Series 2007-40, Class SB, IF, IO, 6.543%, 07/20/37		344
	1,123	Series 2007-42, Class SB, IF, IO, 6.543%, 07/20/37		210
	2,500	Series 2007-47, Class PH, 6.000%, 07/16/37		2,999
	737	Series 2007-50, Class AI, IF, IO, 6.568%, 08/20/37		116
	106	Series 2007-53, Class SW, IF, 19.585%, 09/20/37		150
	520	Series 2007-57, Class PO, PO, 03/20/37		489
	474	Series 2007-71, Class SB, IF, IO, 6.493%, 07/20/36		28
	581	Series 2007-72, Class US, IF, IO, 6.343%, 11/20/37		109
	598	Series 2007-73, Class MI, IF, IO, 5.793%, 11/20/37		99
	1,161	Series 2007-76, Class SA, IF, IO, 6.323%, 11/20/37		216
	582	Series 2007-79, Class SY, IF, IO, 6.343%, 12/20/37		108
	351	Series 2008-2, Class MS, IF, IO, 6.963%, 01/16/38		74

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	1,171	Series 2008-2, Class NS, IF, IO, 6.343%, 01/16/38		220
	652	Series 2008-10, Class S, IF, IO, 5.623%, 02/20/38		102
	455	Series 2008-32, Class PI, IO, 5.500%, 10/16/37		53
	925	Series 2008-36, Class SH, IF, IO, 6.093%, 04/20/38		157
	5,013	Series 2008-40, Class SA, IF, IO, 6.203%, 05/16/38		948
	550	Series 2008-55, Class SA, IF, IO, 5.993%, 06/20/38		88
	134	Series 2008-60, Class PO, PO, 01/20/38		132
	284	Series 2008-71, Class SC, IF, IO, 5.793%, 08/20/38		41
	672	Series 2008-93, Class AS, IF, IO, 5.493%, 12/20/38		102
	819	Series 2009-6, Class SA, IF, IO, 5.903%, 02/16/39		125
	514	Series 2009-10, Class SL, IF, IO, 6.303%, 03/16/34		28
	1,706	Series 2009-12, Class IE, IO, 5.500%, 03/20/39		342
	656	Series 2009-14, Class KI, IO, 6.500%, 03/20/39		153
	608	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		144
	1,646	Series 2009-22, Class SA, IF, IO, 6.063%, 04/20/39		233
	468	Series 2009-25, Class SE, IF, IO, 7.393%, 09/20/38		97
	387	Series 2009-33, Class CI, IO, 5.500%, 05/20/39		71
	397	Series 2009-33, Class TI, IO, 6.000%, 05/20/39		80
	677	Series 2009-43, Class SA, IF, IO, 5.743%, 06/20/39		92
	536	Series 2009-65, Class IQ, IO, 6.000%, 12/20/38		70
	1,510	Series 2009-72, Class SM, IF, IO, 6.053%, 08/16/39		255
	350	Series 2009-79, Class OK, PO, 11/16/37		303
	521	Series 2010-14, Class CO, PO, 08/20/35		486
	3,129	Series 2010-31, Class NO, PO, 03/20/40		2,913
	391	Series 2010-130, Class CP, 7.000%, 10/16/40		461
	3,089	Series 2010-157, Class OP, PO, 12/20/40		2,845
	3,948	Series 2010-H17, Class XQ, VAR, 5.241%, 07/20/60		4,286
	927	Series 2011-22, Class WA, VAR, 5.951%, 02/20/37		1,033
	1,852	Series 2011-75, Class SM, IF, IO, 6.393%, 05/20/41		422
	2,691	Series 2012-61, Class FM, VAR, 0.597%, 05/16/42		2,714
	759	Series 2012-141, Class WC, VAR, 3.742%, 01/20/42		793
	4,033	Series 2012-H10, Class FA, VAR, 0.745%, 12/20/61		4,025
	1,506	Series 2012-H15, Class FA, VAR, 0.645%, 05/20/62		1,507
	3,087	Series 2012-H21, Class CF, VAR, 0.895%, 05/20/61		3,093
	2,665	Series 2012-H21, Class DF, VAR, 0.845%, 05/20/61		2,654
	4,136	Series 2012-H22, Class FD, VAR, 0.665%, 01/20/61		4,129
	884	Series 2012-H24, Class FA, VAR, 0.645%, 03/20/60		885
	2,449	Series 2012-H24, Class FG, VAR, 0.625%, 04/20/60		2,445
	1,799	Series 2012-H26, Class MA, VAR, 0.745%, 07/20/62		1,799
	2,337	Series 2012-H28, Class FA, VAR, 0.775%, 09/20/62		2,328
	1,682	Series 2012-H29, Class FA, VAR, 0.710%, 10/20/62		1,686
	2,283	Series 2012-H30, Class PA, VAR, 0.645%, 11/20/59		2,284
	1,887	Series 2012-H31, Class FD, VAR, 0.535%, 12/20/62		1,870
	3,406	Series 2013-54, Class WA, VAR, 4.695%, 11/20/42		3,704
	2,663	Series 2013-75, Class WA, VAR, 5.225%, 06/20/40		2,963
	1,483	Series 2013-91, Class WA, VAR, 4.508%, 04/20/43		1,585
	1,300	Series 2013-116, Class JY, 4.000%, 08/16/43		1,399
	2,923	Series 2013-H01, Class FA, 1.650%, 01/20/63		2,902
	886	Series 2013-H03, Class FA, VAR, 0.495%, 08/20/60		885
	1,459	Series 2013-H04, Class BA, 1.650%, 02/20/63		1,449
	4,227	Series 2013-H05, Class FB, VAR, 0.593%, 02/20/62		4,219
	1,753	Series 2013-H07, Class HA, VAR, 0.605%, 03/20/63		1,736

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	9,499	Series 2013-H07, Class JA, 1.750%, 03/20/63		9,520
	1,576	Series 2013-H08, Class FC, VAR, 0.645%, 02/20/63		1,567
	1,863	Series 2013-H09, Class HA, 1.650%, 04/20/63		1,848
	3,749	Series 2013-H18, Class JA, VAR, 0.795%, 08/20/63		3,749
	1,252	Series 2014-188, Class W, VAR, 4.689%, 10/20/41		1,358
	1,784	Series 2014-H01, Class FD, VAR, 0.845%, 01/20/64		1,785
	1,821	Series 2014-H09, Class TA, VAR, 0.795%, 04/20/64		1,818
	6,388	Series 2015-H05, Class FC, VAR, 0.675%, 02/20/65		6,379
	9,954	Series 2015-H10, Class FC, VAR, 0.675%, 04/20/65		9,906
	7,756	Series 2015-H12, Class FA, VAR, 0.675%, 05/20/65		7,756
	1,939	Series 2015-H15, Class FD, VAR, 0.635%, 06/20/65		1,907
	4,478	Series 2015-H15, Class FJ, VAR, 0.635%, 06/20/65		4,403
	3,821	Series 2015-H16, Class FG, VAR, 0.635%, 07/20/65		3,774
	3,185	Series 2015-H23, Class FB, VAR, 0.715%, 09/20/65		3,165
		Vendee Mortgage Trust,
	389	Series 1994-1, Class 1, VAR, 5.569%, 02/15/24		424
	603	Series 1994-1, Class 2ZB, 6.500%, 02/15/24		678
	577	Series 1996-1, Class 1Z, 6.750%, 02/15/26		663
	457	Series 1996-2, Class 1Z, 6.750%, 06/15/26		521
	804	Series 1997-1, Class 2Z, 7.500%, 02/15/27		937
	956	Series 1998-1, Class 2E, 7.000%, 03/15/28		1,134
	1,818	Series 1999-1, Class 2Z, 6.500%, 01/15/29		2,058
	6,372	Series 2003-2, Class Z, 5.000%, 05/15/33		7,182
				568,706
		Non-Agency CMO — 4.4%
		Ajax Mortgage Loan Trust,
	1,940	Series 2013-A, Class A, VAR, 3.500%, 02/25/51 (e)		1,922
	2,484	Series 2013-C, Class A, SUB, 4.500%, 03/25/35 (e)		2,517
	1,833	Series 2015-B, Class A, SUB, 3.875%, 07/25/60 (e)		1,832
		Alternative Loan Trust,
	12,245	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		12,337
	1,527	Series 2005-1CB, Class 1A6, IF, IO, 6.879%, 03/25/35		317
	3,772	Series 2005-20CB, Class 3A8, IF, IO, 4.529%, 07/25/35		463
	6,837	Series 2005-22T1, Class A2, IF, IO, 4.849%, 06/25/35		1,036
	3,918	Series 2005-28CB, Class 1A4, 5.500%, 08/25/35		3,813
	135	Series 2005-28CB, Class 3A5, 6.000%, 08/25/35		108
	5,282	Series 2005-37T1, Class A2, IF, IO, 4.829%, 09/25/35		852
	8,259	Series 2005-54CB, Class 1A2, IF, IO, 4.629%, 11/25/35		934
	3,285	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		3,010
	1,955	Series 2005-57CB, Class 3A2, IF, IO, 4.879%, 12/25/35		263
	1,281	Series 2005-64CB, Class 1A9, 5.500%, 12/25/35		1,211
	3,352	Series 2005-J1, Class 1A4, IF, IO, 4.879%, 02/25/35		248
	1,947	Series 2006-26CB, Class A9, 6.500%, 09/25/36		1,696
		American General Mortgage Loan Trust,
	610	Series 2010-1A, Class A3, VAR, 5.650%, 03/25/58 (e)		614
	473	Series 2010-1A, Class A4, VAR, 5.650%, 03/25/58 (e)		486
		ASG Resecuritization Trust,
	304	Series 2009-1, Class A60, VAR, 5.629%, 06/26/37 (e)		301
	44	Series 2009-2, Class G60, VAR, 4.620%, 05/24/36 (e)		44
	1,907	Series 2009-3, Class A65, VAR, 2.088%, 03/26/37 (e)		1,899
	246	Series 2009-4, Class A60, 6.000%, 06/28/37 (e)		246
	438	Series 2010-2, Class A60, VAR, 1.793%, 01/28/37 (e)		433
	574	Series 2011-1, Class 3A50, VAR, 2.618%, 11/28/35 (e)		566

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
		Banc of America Alternative Loan Trust,
	136	Series 2003-2, Class PO, PO, 04/25/33		121
	239	Series 2003-11, Class PO, PO, 01/25/34		208
	91	Series 2004-6, Class 15PO, PO, 07/25/19		88
	1,089	Series 2005-5, Class 1CB1, 5.500%, 06/25/35		1,022
	2,820	Series 2005-6, Class CBIO, IO, 5.500%, 07/25/35		651
	716	Series 2006-4, Class 1A4, 6.000%, 05/25/46		501
		Banc of America Funding Trust,
	290	Series 2004-1, Class PO, PO, 03/25/34		239
	292	Series 2004-2, Class 30PO, PO, 09/20/34		244
	203	Series 2004-C, Class 1A1, VAR, 3.084%, 12/20/34		201
	579	Series 2005-6, Class 2A7, 5.500%, 10/25/35		568
	379	Series 2005-7, Class 30PO, PO, 11/25/35		305
	225	Series 2005-8, Class 30PO, PO, 01/25/36		156
	887	Series 2005-E, Class 4A1, VAR, 2.815%, 03/20/35		883
	478	Series 2006-A, Class 3A2, VAR, 2.822%, 02/20/36		387
		Banc of America Mortgage Trust,
	67	Series 2003-3, Class 2A1, VAR, 0.771%, 05/25/18		65
	52	Series 2003-6, Class 2A1, VAR, 0.671%, 08/25/18		52
	20	Series 2003-7, Class A2, 4.750%, 09/25/18		21
	111	Series 2003-8, Class APO, PO, 11/25/33		93
	484	Series 2004-3, Class 15IO, IO, VAR, 0.241%, 04/25/19		1
	44	Series 2004-4, Class APO, PO, 05/25/34		38
	731	Series 2004-5, Class 2A2, 5.500%, 06/25/34		745
	281	Series 2004-6, Class 2A5, PO, 07/25/34		247
	165	Series 2004-6, Class APO, PO, 07/25/34		147
	14	Series 2004-8, Class 5PO, PO, 05/25/32		13
	17	Series 2004-8, Class XPO, PO, 10/25/34		15
	208	Series 2004-A, Class 2A2, VAR, 2.628%, 02/25/34		206
	604	Series 2004-J, Class 3A1, VAR, 3.097%, 11/25/34		594
	564	Series 2005-10, Class 1A6, 5.500%, 11/25/35		534
		BCAP LLC Trust,
	318	Series 2009-RR5, Class 8A1, 5.500%, 11/26/34 (e)		339
	200	Series 2009-RR13, Class 17A2, VAR, 5.500%, 04/26/37 (e)		204
	265	Series 2010-RR6, Class 22A3, VAR, 4.207%, 06/26/36 (e)		265
	114	Series 2010-RR7, Class 1A5, VAR, 2.686%, 04/26/35 (e)		113
	1,726	Series 2010-RR7, Class 2A1, VAR, 2.188%, 07/26/45 (e)		1,729
	48	Series 2010-RR7, Class 16A1, VAR, 0.943%, 02/26/47 (e)		48
	42	Series 2010-RR8, Class 3A3, VAR, 2.737%, 05/26/35 (e)		42
	1,500	Series 2010-RR8, Class 3A4, VAR, 2.737%, 05/26/35 (e)		1,449
	355	Series 2010-RR12, Class 2A5, VAR, 4.500%, 01/26/36 (e)		352
	359	Series 2011-R11, Class 25A5, VAR, 4.000%, 08/26/21 (e)		361
	1,498	Series 2011-RR4, Class 6A3, VAR, 5.000%, 08/26/37 (e)		1,511
	823	Series 2011-RR5, Class 11A3, VAR, 0.347%, 05/28/36 (e)		814
	1,601	Series 2011-RR10, Class 2A1, VAR, 0.997%, 09/26/37 (e)		1,540
	508	Series 2012-RR2, Class 1A1, VAR, 0.367%, 08/26/36 (e)		503
	589	Series 2012-RR3, Class 2A5, VAR, 2.061%, 05/26/37 (e)		590
	806	Series 2012-RR10, Class 3A1, VAR, 0.387%, 05/26/36 (e)		773
	1,680	Series 2015-RR4, Class 1A1, VAR, 1.195%, 09/11/38 (e)		1,580
		Bear Stearns ARM Trust,
	159	Series 2003-7, Class 3A, VAR, 2.540%, 10/25/33		159
	605	Series 2004-1, Class 12A1, VAR, 2.769%, 04/25/34		601
	100	Series 2004-2, Class 14A, VAR, 3.065%, 05/25/34		99
	1,243	Series 2005-5, Class A1, VAR, 2.320%, 08/25/35		1,254
	3,161	Series 2006-1, Class A1, VAR, 2.580%, 02/25/36		3,132
		CHL Mortgage Pass-Through Trust,
	401	Series 2004-7, Class 2A1, VAR, 2.511%, 06/25/34		393

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	174	Series 2004-8, Class 2A1, 4.500%, 06/25/19		178
	158	Series 2004-HYB1, Class 2A, VAR, 2.572%, 05/20/34		151
	628	Series 2004-HYB3, Class 2A, VAR, 2.302%, 06/20/34		596
	567	Series 2004-HYB6, Class A3, VAR, 2.639%, 11/20/34		542
	163	Series 2004-J8, Class 1A2, 4.750%, 11/25/19		167
	905	Series 2005-16, Class A23, 5.500%, 09/25/35		885
	2,801	Series 2005-22, Class 2A1, VAR, 2.706%, 11/25/35		2,384
		Citicorp Mortgage Securities REMIC Pass-Through Certificates Trust,
	124	Series 2005-5, Class APO, PO, 08/25/35		109
	99	Series 2005-8, Class APO, PO, 11/25/35		79
		Citigroup Global Markets Mortgage Securities VII, Inc.,
	221	Series 2003-HYB1, Class A, VAR, 2.740%, 09/25/33		221
	10	Series 2003-UP2, Class PO1, PO, 12/25/18		9
		Citigroup Mortgage Loan Trust,
	919	Series 2008-AR4, Class 1A1A, VAR, 2.728%, 11/25/38 (e)		917
	391	Series 2009-10, Class 2A1A, 7.000%, 12/25/35 (e)		405
	1,779	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		1,797
	2,115	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		2,146
	494	Series 2015-A, Class B2, VAR, 4.500%, 06/25/58		487
		Citigroup Mortgage Loan Trust, Inc.,
	203	Series 2003-1, Class 2A5, 5.250%, 10/25/33		207
	105	Series 2003-1, Class 2A6, PO, 10/25/33		95
	73	Series 2003-1, Class PO2, PO, 10/25/33		66
	79	Series 2003-1, Class PO3, PO, 09/25/33		71
	34	Series 2003-UP3, Class A3, 7.000%, 09/25/33		35
	129	Series 2003-UST1, Class A1, 5.500%, 12/25/18		129
	25	Series 2003-UST1, Class PO1, PO, 12/25/18		24
	19	Series 2003-UST1, Class PO3, PO, 12/25/18		18
	129	Series 2004-UST1, Class A6, VAR, 2.315%, 08/25/34		124
	349	Series 2005-1, Class 2A1A, VAR, 2.569%, 04/25/35		276
	405	Series 2005-2, Class 2A11, 5.500%, 05/25/35		422
	464	Series 2005-5, Class 1A2, VAR, 2.890%, 08/25/35		335
		Credit Suisse First Boston Mortgage Securities Corp.,
	563	Series 2003-1, Class DB1, VAR, 6.698%, 02/25/33		570
	54	Series 2003-17, Class 2A1, 5.000%, 07/25/18		54
	237	Series 2003-21, Class 1A4, 5.250%, 09/25/33		245
	411	Series 2003-25, Class 1P, PO, 10/25/33		356
	20	Series 2004-5, Class 5P, PO, 08/25/19		20
	2,295	Series 2005-4, Class 3A18, 5.500%, 06/25/35		2,329
	2,553	Series 2005-4, Class 3A23, 5.500%, 06/25/35		2,537
		CSMC,
	6,528	Series 2010-11R, Class A6, VAR, 1.194%, 06/28/47 (e)		6,311
	747	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		751
	560	Series 2011-6R, Class 3A1, VAR, 2.923%, 07/28/36 (e)		563
	421	Series 2012-3R, Class 1A1, VAR, 2.377%, 07/27/37 (e)		419
	300	CSMC Trust, Series 2010-16, Class A3, VAR, 3.826%, 06/25/50 (e)		301
	127	FDIC Trust, Series 2013-N1, Class A, 4.500%, 10/25/18 (e)		127
		First Horizon Alternative Mortgage Securities Trust,
	839	Series 2004-AA4, Class A1, VAR, 2.356%, 10/25/34		829
	1,245	Series 2005-FA8, Class 1A19, 5.500%, 11/25/35		1,083
	2,237	Series 2007-FA4, Class 1A2, IF, IO, 5.429%, 08/25/37		461
		First Horizon Mortgage Pass-Through Trust,
	447	Series 2004-AR2, Class 2A1, VAR, 2.747%, 05/25/34		443
	1,142	Series 2005-AR1, Class 2A2, VAR, 2.608%, 04/25/35		1,135

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
		GMACM Mortgage Loan Trust,
	434	Series 2003-AR1, Class A4, VAR, 3.136%, 10/19/33		429
	213	Series 2004-J5, Class A7, 6.500%, 01/25/35		225
	70	Series 2004-J6, Class 1A1, 5.000%, 01/25/20		71
	3,767	Series 2005-AR3, Class 3A4, VAR, 2.981%, 06/19/35		3,717
		GSMPS Mortgage Loan Trust,
	814	Series 2001-2, Class A, VAR, 7.500%, 06/19/32 (e)		836
	1,182	Series 2005-RP3, Class 1AF, VAR, 0.571%, 09/25/35 (e)		1,007
	893	Series 2005-RP3, Class 1AS, IO, VAR, 4.627%, 09/25/35 (e)		112
	3,954	Series 2006-RP2, Class 1AS2, IF, IO, 5.846%, 04/25/36 (e)		477
		GSR Mortgage Loan Trust,
	563	Series 2004-6F, Class 3A4, 6.500%, 05/25/34		601
	402	Series 2004-8F, Class 2A3, 6.000%, 09/25/34		416
	706	Series 2004-13F, Class 3A3, 6.000%, 11/25/34		732
	217	Series 2005-4F, Class AP, PO, 05/25/35		195
	1,808	Series 2005-7F, Class 3A9, 6.000%, 09/25/35		1,885
	2,494	Series 2006-1F, Class 2A4, 6.000%, 02/25/36		2,228
	2,029	Series 2007-1F, Class 2A4, 5.500%, 01/25/37		1,995
	2,643	Homeowner Assistance Program Reverse Mortgage Loan Trust, Series 2013-RM1, Class A, 4.000%, 05/26/53 (e)		2,601
		Impac CMB Trust,
	1,961	Series 2004-7, Class 1A1, VAR, 0.961%, 11/25/34		1,848
	248	Series 2005-4, Class 2A1, VAR, 0.821%, 05/25/35		244
		Impac Secured Assets Trust,
	572	Series 2006-1, Class 2A1, VAR, 0.571%, 05/25/36		554
	432	Series 2006-2, Class 2A1, VAR, 0.571%, 08/25/36		422
		JP Morgan Mortgage Trust,
	1,089	Series 2006-A2, Class 4A1, VAR, 2.717%, 08/25/34		1,093
	1,409	Series 2006-A2, Class 5A3, VAR, 2.681%, 11/25/33		1,413
	261	Series 2006-A3, Class 6A1, VAR, 2.741%, 08/25/34		263
	236	JP Morgan Resecuritization Trust, Series 2009-6, Class 4A1, VAR, 2.657%, 09/26/36 (e)		238
		Lehman Mortgage Trust,
	512	Series 2006-2, Class 1A1, VAR, 5.984%, 04/25/36		457
	1,037	Series 2008-2, Class 1A6, 6.000%, 03/25/38		819
		MASTR Adjustable Rate Mortgages Trust,
	70	Series 2004-4, Class 2A1, VAR, 2.065%, 05/25/34		62
	623	Series 2004-13, Class 2A1, VAR, 2.770%, 04/21/34		626
	1,401	Series 2004-13, Class 3A7, VAR, 2.770%, 11/21/34		1,431
	372	Series 2004-15, Class 3A1, VAR, 3.364%, 12/25/34		369
		MASTR Alternative Loan Trust,
	166	Series 2003-3, Class 1A1, 6.500%, 05/25/33		176
	429	Series 2003-9, Class 8A1, 6.000%, 01/25/34		434
	475	Series 2004-3, Class 2A1, 6.250%, 04/25/34		501
	676	Series 2004-4, Class 10A1, 5.000%, 05/25/24		713
	584	Series 2004-6, Class 7A1, 6.000%, 07/25/34		594
	376	Series 2004-6, Class 30PO, PO, 07/25/34		298
	260	Series 2004-7, Class 30PO, PO, 08/25/34		201
	674	Series 2004-8, Class 6A1, 5.500%, 09/25/19		692
	112	Series 2004-10, Class 1A1, 4.500%, 09/25/19		114
		MASTR Asset Securitization Trust,
	25	Series 2003-2, Class 2A1, 4.500%, 03/25/18		25
	11	Series 2003-3, Class 4A1, 5.000%, 04/25/18		12
	35	Series 2003-4, Class 3A2, 5.000%, 05/25/18		35
	78	Series 2003-12, Class 30PO, PO, 12/25/33		70
	63	Series 2004-1, Class 30PO, PO, 02/25/34		54

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	13	Series 2004-4, Class 3A1, 4.500%, 04/25/19		13
	30	Series 2004-6, Class 15PO, PO, 07/25/19		30
	46	Series 2004-8, Class 1A1, 4.750%, 08/25/19		48
	17	Series 2004-8, Class PO, PO, 08/25/19		16
	2,302	MASTR Reperforming Loan Trust, Series 2005-2, Class 1A1F, VAR, 0.571%, 05/25/35 (e)		1,868
	762	MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		609
		Merrill Lynch Mortgage Investors Trust,
	239	Series 2003-E, Class A1, VAR, 0.841%, 10/25/28		228
	2,263	Series 2003-F, Class A1, VAR, 0.861%, 10/25/28		2,208
	620	Series 2004-1, Class 2A1, VAR, 2.215%, 12/25/34		622
	472	Series 2004-A, Class A1, VAR, 0.681%, 04/25/29		454
	12	ML Trust XLVII, Series 47, Class Z, 8.985%, 10/20/20		13
	513	MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.861%, 02/25/35		500
	426	NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		423
	304	Nationstar HECM Loan Trust, Series 2015-2A, Class A, 2.883%, 11/25/25 (e)		304
		Nomura Asset Acceptance Corp. Alternative Loan Trust,
	162	Series 2003-A1, Class A1, 5.500%, 05/25/33		167
	100	Series 2003-A1, Class A2, 6.000%, 05/25/33		103
	47	Series 2003-A1, Class A5, 7.000%, 04/25/33		48
	4	Series 2003-A1, Class A7, 5.000%, 04/25/18		4
	5	PaineWebber CMO Trust, Series P, Class 4, 8.500%, 08/01/19		5
	240	Provident Funding Mortgage Loan Trust, Series 2005-1, Class 2A1, VAR, 2.528%, 05/25/35		242
		RALI Trust,
	124	Series 2002-QS8, Class A5, 6.250%, 06/25/17		125
	40	Series 2002-QS16, Class A3, IF, 16.161%, 10/25/17		41
	3,785	Series 2003-QR19, Class CB4, 5.750%, 10/25/33		3,985
	120	Series 2003-QS3, Class A2, IF, 16.014%, 02/25/18		127
	290	Series 2003-QS9, Class A3, IF, IO, 7.329%, 05/25/18		17
	310	Series 2003-QS12, Class A2A, IF, IO, 7.379%, 06/25/18		23
	94	Series 2003-QS12, Class A5, IO, 5.000%, 06/25/18		5
	681	Series 2003-QS14, Class A1, 5.000%, 07/25/18		689
	215	Series 2003-QS18, Class A1, 5.000%, 09/25/18		218
	1,232	Series 2003-QS19, Class A1, 5.750%, 10/25/33		1,296
	1,584	Series 2004-QA6, Class NB2, VAR, 3.082%, 12/26/34		1,310
		RBSSP Resecuritization Trust,
	327	Series 2009-2, Class 1A1, 7.000%, 08/26/37 (e)		343
	309	Series 2009-9, Class 7A4, VAR, 6.000%, 07/26/37 (e)		313
	630	Series 2009-12, Class 1A1, VAR, 6.959%, 11/25/33 (e)		661
	403	Series 2010-9, Class 7A5, VAR, 4.000%, 05/26/37 (e)		406
		Residential Asset Securitization Trust,
	242	Series 2003-A13, Class A3, 5.500%, 01/25/34		249
	13	Series 2003-A14, Class A1, 4.750%, 02/25/19		13
	2,475	Series 2005-A2, Class A4, IF, IO, 4.829%, 03/25/35		337
	674	Series 2006-A4, Class 2A5, 6.000%, 05/25/36		596
		RFMSI Trust,
	14	Series 2003-S13, Class A3, 5.500%, 06/25/33		13
	51	Series 2003-S14, Class A4, PO, 07/25/18		49
	110	Series 2004-S3, Class A1, 4.750%, 03/25/19		110
	389	Series 2004-S6, Class 2A6, PO, 06/25/34		333
	55	Series 2004-S9, Class 2A1, 4.750%, 12/25/19		56
	601	Series 2005-SA4, Class 1A1, VAR, 2.836%, 09/25/35		500

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
		Springleaf Mortgage Loan Trust,
	1,183	Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		1,182
	1,116	Series 2013-1A, Class M1, VAR, 2.310%, 06/25/58 (e)		1,118
	900	Series 2013-1A, Class M2, VAR, 3.140%, 06/25/58 (e)		902
	634	Series 2013-1A, Class M3, VAR, 3.790%, 06/25/58 (e)		636
	2,352	Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		2,353
	1,058	Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		1,067
	638	Series 2013-3A, Class A, VAR, 1.870%, 09/25/57 (e)		637
	2,131	Series 2013-3A, Class M1, VAR, 3.790%, 09/25/57 (e)		2,158
	441	Structured Adjustable Rate Mortgage Loan Trust, Series 2004-6, Class 5A4, VAR, 2.375%, 06/25/34		440
	666	Structured Asset Mortgage Investments II Trust, Series 2004-AR5, Class 1A1, VAR, 0.862%, 10/19/34		636
		Structured Asset Securities Corp. Mortgage Pass-Through Certificates,
	722	Series 2003-33H, Class 1A1, 5.500%, 10/25/33		736
	1,302	Series 2004-5H, Class A4, 5.540%, 12/25/33		1,338
		Structured Asset Securities Corp. Trust,
	124	Series 2005-6, Class 4A1, 5.000%, 05/25/35		126
	165	Series 2005-10, Class 5A9, 5.250%, 12/25/34		161
		Thornburg Mortgage Securities Trust,
	380	Series 2003-4, Class A1, VAR, 0.861%, 09/25/43		367
	970	Series 2004-4, Class 3A, VAR, 2.108%, 12/25/44		960
		WaMu Mortgage Pass-Through Certificates Trust,
	139	Series 2003-AR8, Class A, VAR, 2.485%, 08/25/33		142
	2,153	Series 2003-AR9, Class 1A6, VAR, 2.519%, 09/25/33		2,179
	295	Series 2003-AR9, Class 2A, VAR, 2.564%, 09/25/33		294
	120	Series 2003-S8, Class A6, 4.500%, 09/25/18		121
	1,004	Series 2003-S9, Class A8, 5.250%, 10/25/33		1,030
	84	Series 2003-S9, Class P, PO, 10/25/33		67
	181	Series 2004-AR3, Class A1, VAR, 2.460%, 06/25/34		183
	151	Series 2004-AR3, Class A2, VAR, 2.460%, 06/25/34		153
	1,725	Series 2004-RS2, Class A4, 5.000%, 11/25/33		1,760
	249	Series 2006-AR10, Class 2P, VAR, 2.480%, 09/25/36		219
	177	Series 2006-AR12, Class 2P, VAR, 1.995%, 10/25/36		128
		Washington Mutual Mortgage Pass-Through Certificates WMALT Trust,
	7,605	Series 2005-2, Class 1A4, IF, IO, 4.829%, 04/25/35		1,101
	1,721	Series 2005-2, Class 2A3, IF, IO, 4.779%, 04/25/35		213
	2,067	Series 2005-3, Class CX, IO, 5.500%, 05/25/35		424
	2,465	Series 2005-4, Class CB7, 5.500%, 06/25/35		2,332
	1,986	Series 2005-4, Class CX, IO, 5.500%, 06/25/35		408
	553	Series 2005-6, Class 2A4, 5.500%, 08/25/35		528
	3,540	Series 2005-6, Class 2A9, 5.500%, 08/25/35		3,381
	681	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		671
		Wells Fargo Mortgage-Backed Securities Trust,
	184	Series 2003-K, Class 1A1, VAR, 2.615%, 11/25/33		185
	348	Series 2003-K, Class 1A2, VAR, 2.615%, 11/25/33		354
	389	Series 2004-EE, Class 2A1, VAR, 2.735%, 12/25/34		398
	483	Series 2004-EE, Class 3A1, VAR, 2.701%, 12/25/34		487
	2,157	Series 2004-P, Class 2A1, VAR, 2.736%, 09/25/34		2,164
	419	Series 2004-V, Class 1A1, VAR, 2.729%, 10/25/34		422
	151	Series 2005-16, Class APO, PO, 01/25/36		119
	3,681	Series 2005-AR3, Class 1A1, VAR, 2.743%, 03/25/35		3,704

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	389	Series 2005-AR8, Class 2A1, VAR, 2.695%, 06/25/35		391
	318	Series 2005-AR16, Class 2A1, VAR, 2.686%, 02/25/34		321
	507	Series 2006-2, Class APO, PO, 03/25/36		330
	193	Series 2006-4, Class 1APO, PO, 04/25/36		163
	977	Series 2007-7, Class A7, 6.000%, 06/25/37		979
	286	Series 2007-11, Class A14, 6.000%, 08/25/37		283
				186,209
		Total Collateralized Mortgage Obligations (Cost $717,023)		754,915
	Commercial Mortgage-Backed Securities — 3.3%
		A10 Securitization LLC,
	277	Series 2013-1, Class A, 2.400%, 11/15/25 (e)		277
	2,911	Series 2015-1, Class A1, 2.100%, 04/15/34 (e)		2,894
	1,293	Series 2015-1, Class A2, 3.130%, 04/15/34 (e)		1,291
		A10 Term Asset Financing LLC,
	2,327	Series 2013-2, Class A, 2.620%, 11/15/27 (e)		2,337
	696	Series 2013-2, Class B, 4.380%, 11/15/27 (e)		701
		ACRE Commercial Mortgage Trust, (Cayman Islands),
	610	Series 2014-FL2, Class B, VAR, 2.249%, 08/15/31 (e)		604
	710	Series 2014-FL2, Class C, VAR, 2.699%, 08/15/31 (e)		704
	400	Series 2014-FL2, Class D, VAR, 3.599%, 08/15/31 (e)		397
		BAMLL Commercial Mortgage Securities Trust,
	560	Series 2012-PARK, Class A, 2.959%, 12/10/30 (e)		561
	1,300	Series 2014-520M, Class C, VAR, 4.354%, 08/15/46 (e)		1,235
		Banc of America Commercial Mortgage Trust,
	1,941	Series 2006-4, Class A4, 5.634%, 07/10/46		1,961
	847	Series 2006-5, Class A4, 5.414%, 09/10/47		863
	1,274	Series 2007-5, Class A4, 5.492%, 02/10/51		1,325
	298	Banc of America Merrill Lynch Commercial Mortgage, Inc., Series 2005-3, Class AM, 4.727%, 07/10/43		298
		BB-UBS Trust,
	4,400	Series 2012-SHOW, Class A, 3.430%, 11/05/36 (e)		4,466
	2,500	Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		2,478
		Bear Stearns Commercial Mortgage Securities Trust,
	1,489	Series 2005-PWR8, Class X1, IO, VAR, 0.413%, 06/11/41 (e)		—	(h)
	673	Series 2006-PW11, Class A4, VAR, 5.653%, 03/11/39		673
	80,362	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.548%, 12/11/49 (e)		274
	900	CGBAM Commercial Mortgage Trust, Series 2014-HD, Class A, VAR, 0.997%, 02/15/31 (e)		895
		COBALT CMBS Commercial Mortgage Trust,
	476	Series 2006-C1, Class A4, 5.223%, 08/15/48		487
	15,684	Series 2006-C1, Class IO, IO, VAR, 0.979%, 08/15/48		104
		COMM Mortgage Trust,
	2,870	Series 2012-CR2, Class XA, IO, VAR, 1.993%, 08/15/45		251
	3,500	Series 2013-300P, Class A1, 4.353%, 08/10/30 (e)		3,773
	1,060	Series 2013-SFS, Class A2, VAR, 3.086%, 04/12/35 (e)		1,053
	1,400	Series 2014-TWC, Class A, VAR, 1.047%, 02/13/32 (e)		1,391
	1,156	Series 2015-CR24, Class A5, 3.696%, 08/10/55		1,191
	2,812	Series 2015-CR25, Class A4, 3.759%, 08/10/48		2,906
	96	Commercial Mortgage Pass-Through Certificates, Series 2012-MVP, Class A, VAR, 2.136%, 11/17/26 (e)		96
	300	Commercial Mortgage Trust, Series 2006-GG7, Class AM, VAR, 6.021%, 07/10/38		304
	445	Credit Suisse Commercial Mortgage Trust, Series 2006-C2, Class A3, VAR, 5.850%, 03/15/39		446
	3,018	CSMC, Series 2014-ICE, Class A, VAR, 1.050%, 04/15/27 (e)		3,005

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — continued
		Federal Home Loan Mortgage Corp., Multifamily Structured Pass-Through Certificates,
	2,557	Series K029, Class A2, VAR, 3.320%, 02/25/23		2,697
	10,000	Series K037, Class A2, 3.490%, 01/25/24		10,576
	872	Series KJ02, Class A2, 2.597%, 09/25/20		890
	5,500	Series KPLB, Class A, 2.770%, 05/25/25		5,460
	1,000	Series KS01, Class A2, 2.522%, 01/25/23		1,008
	2,500	Series KSMC, Class A2, 2.615%, 01/25/23		2,524
	127	GMAC Commercial Mortgage Securities, Inc. Trust, Series 2006-C1, Class A4, VAR, 5.238%, 11/10/45		127
	1,928	Government National Mortgage Association, Series 2014-168, Class VA, VAR, 3.400%, 01/16/37		2,024
	1,330	GS Mortgage Securities Corp. II, Series 2013-KING, Class A, 2.706%, 12/10/27 (e)		1,349
	488	GS Mortgage Securities Corp. Trust, Series 2013-NYC5, Class A, 2.318%, 01/10/30 (e)		493
	1,000	GSMS Trust, Series 2009-RR1, Class JPB, 5.374%, 05/17/45 (e)		1,012
		JP Morgan Chase Commercial Mortgage Securities Trust,
	186	Series 2005-CB11, Class AJ, VAR, 5.587%, 08/12/37		186
	400	Series 2006-LDP9, Class AMS, 5.337%, 05/15/47		399
	984	Series 2007-C1, Class A4, 5.716%, 02/15/51		1,033
	998	Ladder Capital Commercial Mortgage Trust, Series 2013-GCP, Class A2, 3.985%, 02/15/36 (e)		1,042
		LB-UBS Commercial Mortgage Trust,
	154	Series 2006-C1, Class A4, 5.156%, 02/15/31		154
	35,717	Series 2006-C7, Class XW, IO, VAR, 0.849%, 11/15/38 (e)		193
	300	Series 2007-C1, Class AM, 5.455%, 02/15/40		310
	813	Series 2007-C2, Class A3, 5.430%, 02/15/40		840
		ML-CFC Commercial Mortgage Trust,
	1,828	Series 2006-1, Class A4, VAR, 5.654%, 02/12/39		1,827
	21,459	Series 2006-4, Class XC, IO, VAR, 0.806%, 12/12/49 (e)		115
	2,000	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C14, Class A3, 3.669%, 02/15/47		2,089
		Morgan Stanley Capital I Trust,
	32,405	Series 2006-IQ12, Class X1, IO, VAR, 0.638%, 12/15/43 (e)		110
	63,097	Series 2007-HQ11, Class X, IO, VAR, 0.380%, 02/12/44 (e)		134
	764	Series 2011-C3, Class A3, 4.054%, 07/15/49		806
		Morgan Stanley Re-REMIC Trust,
	753	Series 2012-IO, Class AXA, 1.000%, 03/27/51 (e)		743
	2,199	Series 2012-XA, Class A, 2.000%, 07/27/49 (e)		2,187
	1,800	Series 2012-XA, Class B, 0.250%, 07/27/49 (e)		1,643
		NCUA Guaranteed Notes Trust,
	14,165	Series 2010-C1, Class A2, 2.900%, 10/29/20		14,224
	5,859	Series 2010-C1, Class APT, 2.650%, 10/29/20		5,874
		NorthStar, (Cayman Islands),
	896	Series 2013-1A, Class A, VAR, 2.047%, 08/25/29 (e)		897
	1,392	Series 2013-1A, Class B, VAR, 5.197%, 08/25/29 (e)		1,406
	475	ORES NPL LLC, Series 2013-LV2, Class A, 3.081%, 09/25/25 (e)		474
		PFP III Ltd., (Cayman Islands),
	1,380	Series 2015-2, Class A, VAR, 1.646%, 07/14/34 (e)		1,381
	1,055	Series 2015-2, Class C, VAR, 3.447%, 07/14/34 (e)		1,055
	730	Series 2015-2, Class D, VAR, 4.197%, 07/14/34 (e)		730
		RAIT Trust,
	1,765	Series 2014-FL3, Class A, VAR, 1.447%, 12/15/31 (e)		1,761
	1,986	Series 2014-FL3, Class AS, VAR, 1.997%, 12/15/31 (e)		1,976
	736	Series 2014-FL3, Class B, VAR, 2.847%, 12/15/31 (e)		731
	1,759	Series 2015-FL4, Class A, VAR, 1.547%, 12/15/31 (e)		1,742
	1,450	Series 2015-FL4, Class AS, VAR, 1.947%, 12/15/31 (e)		1,451
	664	RBS Commercial Funding, Inc. Trust, Series 2013-SMV, Class A, 3.260%, 03/11/31 (e)		672

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — continued
	703	RCMC LLC, Series 2012-CRE1, Class A, 5.623%, 11/15/44 (e)		713
		Resource Capital Corp., Ltd., (Cayman Islands),
	600	Series 2015-CRE4, Class A, VAR, 1.597%, 08/15/32 (e)		594
	1,151	Series 2015-CRE4, Class B, VAR, 3.197%, 08/15/32 (e)		1,134
	1,502	RREF LLC, Series 2015-LT7, Class A, 3.000%, 12/25/32 (e)		1,502
	2,236	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		2,334
		UBS-Barclays Commercial Mortgage Trust,
	1,053	Series 2012-C2, Class A4, 3.525%, 05/10/63		1,091
	10,035	Series 2012-C2, Class XA, IO, VAR, 1.874%, 05/10/63 (e)		653
	857	Series 2013-C6, Class A4, 3.244%, 04/10/46		868
		VNDO Mortgage Trust,
	1,398	Series 2012-6AVE, Class A, 2.996%, 11/15/30 (e)		1,403
	5,000	Series 2013-PENN, Class A, 3.808%, 12/13/29 (e)		5,280
		Wells Fargo Commercial Mortgage Trust,
	2,500	Series 2013-120B, Class A, VAR, 2.800%, 03/18/28 (e)		2,525
	1,094	Series 2015-C30, Class A4, 3.664%, 09/15/58		1,127
	401	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		401
		WFRBS Commercial Mortgage Trust,
	1,700	Series 2011-C3, Class A4, 4.375%, 03/15/44 (e)		1,843
	800	Series 2012-C6, Class A4, 3.440%, 04/15/45		831
	400	Series 2013-C11, Class D, VAR, 4.319%, 03/15/45 (e)		374
		Total Commercial Mortgage-Backed Securities (Cost $137,222)		138,259
	Corporate Bonds — 19.6%
		Consumer Discretionary — 1.4%
		Auto Components — 0.1%
		Johnson Controls, Inc.,
	591	3.750%, 12/01/21		598
	675	4.250%, 03/01/21		707
	173	4.950%, 07/02/64		143
	1,000	5.250%, 12/01/41		920
				2,368
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	532	1.875%, 01/11/18 (e)		530
	305	2.250%, 03/02/20 (e)		300
	981	2.375%, 08/01/18 (e)		987
	739	2.625%, 09/15/16 (e)		747
	1,425	2.950%, 01/11/17 (e)		1,444
	526	Hyundai Capital America, 2.400%, 10/30/18 (e)		522
				4,530
		Hotels, Restaurants & Leisure — 0.0% (g)
	718	Starbucks Corp., 2.700%, 06/15/22		724
		Internet & Catalog Retail — 0.1%
		Amazon.com, Inc.,
	1,448	3.800%, 12/05/24		1,505
	1,435	4.800%, 12/05/34		1,508
				3,013
		Media — 0.9%
		21st Century Fox America, Inc.,
	100	6.200%, 12/15/34		116
	400	6.650%, 11/15/37		472
	250	6.900%, 08/15/39		304
	1,075	7.300%, 04/30/28		1,300
	505	8.000%, 10/17/16		535
	430	8.875%, 04/26/23		563
		CBS Corp.,
	265	3.375%, 03/01/22		264
	475	3.700%, 08/15/24		466
	792	4.000%, 01/15/26		786
	345	4.600%, 01/15/45		308
	360	4.900%, 08/15/44		336
	140	5.500%, 05/15/33		139
		CCO Safari II LLC,
	1,797	4.464%, 07/23/22 (e)		1,817
	703	6.384%, 10/23/35 (e)		728
	250	Comcast Cable Communications Holdings, Inc., 9.455%, 11/15/22		349
		Comcast Corp.,
	347	3.375%, 08/15/25		354
	555	4.200%, 08/15/34		550
	1,082	4.250%, 01/15/33		1,082
	400	6.450%, 03/15/37		505
	1,355	6.500%, 11/15/35		1,724

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Media — continued
		Cox Communications, Inc.,
	446	3.250%, 12/15/22 (e)		410
	885	4.800%, 02/01/35 (e)		750
	125	8.375%, 03/01/39 (e)		141
	450	Cox Enterprises, Inc., 7.375%, 07/15/27 (e)		516
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	1,297	3.800%, 03/15/22		1,326
	376	3.950%, 01/15/25		376
	1,000	4.600%, 02/15/21		1,071
	2,000	6.000%, 08/15/40		2,092
		Discovery Communications LLC,
	1,016	4.375%, 06/15/21		1,050
	569	4.950%, 05/15/42		480
		Grupo Televisa SAB, (Mexico),
	221	4.625%, 01/30/26		222
	200	6.125%, 01/31/46		200
	1,197	Historic TW, Inc., 9.150%, 02/01/23		1,563
		NBCUniversal Media LLC,
	275	2.875%, 01/15/23		276
	310	4.375%, 04/01/21		339
	800	5.950%, 04/01/41		974
	515	6.400%, 04/30/40		648
	296	Sky plc, (United Kingdom), 3.750%, 09/16/24 (e)		294
		Thomson Reuters Corp., (Canada),
	482	3.850%, 09/29/24		476
	1,278	3.950%, 09/30/21		1,328
	441	4.500%, 05/23/43		390
	325	4.700%, 10/15/19		350
		Time Warner Cable, Inc.,
	359	5.500%, 09/01/41		330
	1,218	5.850%, 05/01/17		1,277
	400	6.550%, 05/01/37		405
	800	8.250%, 04/01/19		926
	300	Time Warner Cos., Inc., 7.570%, 02/01/24		371
	1,410	Time Warner Entertainment Co. LP, 8.375%, 07/15/33		1,698
		Time Warner, Inc.,
	1,700	3.600%, 07/15/25		1,684
	555	4.750%, 03/29/21		602
	313	5.375%, 10/15/41		325
	150	6.200%, 03/15/40		168
	172	6.250%, 03/29/41		194
	265	6.500%, 11/15/36		306
	250	7.625%, 04/15/31		315
	171	7.700%, 05/01/32		218
		Viacom, Inc.,
	235	2.750%, 12/15/19		233
	600	3.125%, 06/15/22		567
	67	3.250%, 03/15/23		62
	808	3.875%, 12/15/21		798
	464	4.375%, 03/15/43		342
	250	4.500%, 02/27/42		192
	262	4.850%, 12/15/34		223
	52	6.250%, 04/30/16		53
	333	Walt Disney Co. (The), 0.450%, 12/01/15		333
				39,592
		Multiline Retail — 0.1%
		Macy’s Retail Holdings, Inc.,
	516	2.875%, 02/15/23		476
	462	4.375%, 09/01/23		470
	526	4.500%, 12/15/34		450
	157	5.125%, 01/15/42		141
	230	7.450%, 07/15/17		250
	455	Nordstrom, Inc., 4.000%, 10/15/21		481
	200	Target Corp., 6.000%, 01/15/18		219
				2,487
		Specialty Retail — 0.1%
	217	Bed Bath & Beyond, Inc., 4.915%, 08/01/34		196
	502	Gap, Inc. (The), 5.950%, 04/12/21		526
		Home Depot, Inc. (The),
	620	2.625%, 06/01/22		621
	517	4.250%, 04/01/46		527
	1,785	5.400%, 03/01/16		1,806
		Lowe’s Cos., Inc.,
	268	3.375%, 09/15/25		272
	739	4.650%, 04/15/42		776
	326	5.125%, 11/15/41		361
	750	Series B, 7.110%, 05/15/37		977
				6,062
		Total Consumer Discretionary		58,776
		Consumer Staples — 0.9%
		Beverages — 0.2%
		Anheuser-Busch Cos. LLC,
	600	5.500%, 01/15/18		645
	920	5.750%, 04/01/36		998
	900	Anheuser-Busch InBev Finance, Inc., 3.700%, 02/01/24		921

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Beverages — continued
	94	Anheuser-Busch InBev Worldwide, Inc., 7.750%, 01/15/19		110
	750	Brown-Forman Corp., 4.500%, 07/15/45		781
		Diageo Capital plc, (United Kingdom),
	264	1.500%, 05/11/17		264
	510	4.828%, 07/15/20		562
	255	Diageo Investment Corp., 8.000%, 09/15/22		325
	355	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		354
		PepsiCo, Inc.,
	287	1.250%, 08/13/17		288
	368	3.000%, 08/25/21		379
	852	3.100%, 07/17/22		875
	59	7.900%, 11/01/18		69
	500	VAR, 0.617%, 02/26/16		500
	698	SABMiller Holdings, Inc., 3.750%, 01/15/22 (e)		718
				7,789
		Food & Staples Retailing — 0.3%
	858	Costco Wholesale Corp., 2.250%, 02/15/22		848
		CVS Health Corp.,
	189	3.500%, 07/20/22		194
	536	4.000%, 12/05/23		563
	229	4.875%, 07/20/35		239
	322	5.300%, 12/05/43		351
	1,005	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		1,109
		Kroger Co. (The),
	900	4.000%, 02/01/24		937
	1,100	5.000%, 04/15/42		1,131
	2,480	7.500%, 04/01/31		3,169
	291	Sysco Corp., 3.750%, 10/01/25		296
	1,031	Walgreen Co., 3.100%, 09/15/22		1,001
		Walgreens Boots Alliance, Inc.,
	544	3.300%, 11/18/21		542
	663	3.800%, 11/18/24		651
	386	4.500%, 11/18/34		355
	400	4.800%, 11/18/44		366
		Wal-Mart Stores, Inc.,
	762	5.250%, 09/01/35		874
	255	6.200%, 04/15/38		323
	350	7.550%, 02/15/30		495
				13,444
		Food Products — 0.3%
		Bunge Ltd. Finance Corp.,
	95	3.500%, 11/24/20		96
	1,415	8.500%, 06/15/19		1,655
	191	Bunge N.A. Finance LP, 5.900%, 04/01/17		200
		Cargill, Inc.,
	600	3.300%, 03/01/22 (e)		606
	535	4.307%, 05/14/21 (e)		576
	850	7.350%, 03/06/19 (e)		987
		ConAgra Foods, Inc.,
	223	1.300%, 01/25/16		223
	227	2.100%, 03/15/18		225
	365	Kellogg Co., 1.750%, 05/17/17		366
		Kraft Foods Group, Inc.,
	814	3.500%, 06/06/22		827
	694	5.000%, 06/04/42		706
	1,187	6.125%, 08/23/18		1,312
	2,353	6.875%, 01/26/39		2,883
		Mead Johnson Nutrition Co.,
	153	2.650%, 11/03/22		155
	317	3.000%, 11/15/20		317
	1,500	Mondelez International, Inc., 4.000%, 02/01/24		1,553
	777	Tyson Foods, Inc., 3.950%, 08/15/24		796
				13,483
		Household Products — 0.1%
		Kimberly-Clark Corp.,
	220	2.400%, 03/01/22		219
	426	3.050%, 08/15/25		425
	71	7.500%, 11/01/18		83
	643	Procter & Gamble - ESOP, Series A, 9.360%, 01/01/21		763
	140	Procter & Gamble Co. (The), 5.500%, 02/01/34		167
				1,657
		Total Consumer Staples		36,373
		Energy — 2.1%
		Energy Equipment & Services — 0.2%
	199	Cameron International Corp., 4.000%, 12/15/23		203
	348	Diamond Offshore Drilling, Inc., 4.875%, 11/01/43		248
	175	Ensco plc, (United Kingdom), 5.200%, 03/15/25		144
		Halliburton Co.,
	204	3.375%, 11/15/22		205
	714	3.500%, 08/01/23		712

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Energy Equipment & Services — continued
	193	4.850%, 11/15/35		195
	1,620	7.450%, 09/15/39		2,130
		Nabors Industries, Inc.,
	200	4.625%, 09/15/21		181
	200	5.000%, 09/15/20		190
	188	National Oilwell Varco, Inc., 1.350%, 12/01/17		186
		Noble Holding International Ltd., (Cayman Islands),
	115	3.950%, 03/15/22		87
	238	4.000%, 03/16/18		225
	83	5.250%, 03/15/42		53
	300	6.050%, 03/01/41		200
	363	6.950%, 04/01/45		262
	441	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		451
		Transocean, Inc., (Cayman Islands),
	361	4.300%, 10/15/22		231
	513	6.500%, 11/15/20		405
	648	6.875%, 12/15/21		487
	100	7.500%, 04/15/31		64
	198	7.850%, 12/15/41		129
		Weatherford International Ltd., (Bermuda),
	311	4.500%, 04/15/22		244
	113	5.950%, 04/15/42		72
	110	6.500%, 08/01/36		70
	350	9.875%, 03/01/39		316
				7,690
		Oil, Gas & Consumable Fuels — 1.9%
	160	Alberta Energy Co., Ltd., (Canada), 7.375%, 11/01/31		157
	330	Anadarko Petroleum Corp., 8.700%, 03/15/19		386
		Apache Corp.,
	138	3.250%, 04/15/22		136
	556	4.750%, 04/15/43		525
	500	6.900%, 09/15/18		562
	235	BG Energy Capital plc, (United Kingdom), 5.125%, 10/15/41 (e)		243
	338	Boardwalk Pipelines LP, 4.950%, 12/15/24		307
		BP Capital Markets plc, (United Kingdom),
	92	1.375%, 11/06/17		92
	929	1.846%, 05/05/17		937
	1,283	2.237%, 05/10/19		1,284
	1,182	2.750%, 05/10/23		1,144
	451	3.506%, 03/17/25		453
	1,337	3.814%, 02/10/24		1,373
		Buckeye Partners LP,
	500	4.350%, 10/15/24		450
	330	4.875%, 02/01/21		330
	770	5.850%, 11/15/43		630
	200	Burlington Resources Finance Co., (Canada), 7.400%, 12/01/31		255
		Canadian Natural Resources Ltd., (Canada),
	401	3.900%, 02/01/25		378
	350	6.250%, 03/15/38		363
	1,000	6.750%, 02/01/39		1,078
		Cenovus Energy, Inc., (Canada),
	208	3.000%, 08/15/22		192
	356	4.450%, 09/15/42		281
	759	6.750%, 11/15/39		792
		Chevron Corp.,
	560	2.355%, 12/05/22		544
	1,000	4.950%, 03/03/19		1,102
	1,852	CNOOC Finance 2015 Australia Pty Ltd., (Australia), 2.625%, 05/05/20		1,824
	1,789	CNOOC Nexen Finance 2014 ULC, (Canada), 4.250%, 04/30/24		1,835
	230	Conoco Funding Co., (Canada), 7.250%, 10/15/31		289
		ConocoPhillips,
	325	5.200%, 05/15/18		351
	525	5.750%, 02/01/19		584
	150	6.000%, 01/15/20		171
	200	6.500%, 02/01/39		239
	1,045	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		1,085
		ConocoPhillips Co.,
	205	2.200%, 05/15/20		204
	571	3.350%, 11/15/24		563
	374	3.350%, 05/15/25		366
		Devon Energy Corp.,
	750	3.250%, 05/15/22		716
	522	4.750%, 05/15/42		455
	360	6.300%, 01/15/19		397
		Ecopetrol S.A., (Colombia),
	533	4.125%, 01/16/25		456
	773	5.375%, 06/26/26		699
		Encana Corp., (Canada),
	545	6.500%, 05/15/19		584
	150	6.500%, 08/15/34		135

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Oil, Gas & Consumable Fuels — continued
		Energy Transfer Partners LP,
	448	3.600%, 02/01/23		390
	964	4.750%, 01/15/26		863
	364	5.150%, 03/15/45		275
	925	Eni S.p.A., (Italy), Series EX2, 5.700%, 10/01/40 (e)		911
		EnLink Midstream Partners LP,
	140	2.700%, 04/01/19		135
	838	4.150%, 06/01/25		740
	500	5.050%, 04/01/45		387
		Enterprise Products Operating LLC,
	506	3.700%, 02/15/26		476
	343	3.750%, 02/15/25		325
	475	3.900%, 02/15/24		462
	486	4.900%, 05/15/46		434
	155	4.950%, 10/15/54		130
	318	5.100%, 02/15/45		289
		EOG Resources, Inc.,
	379	2.625%, 03/15/23		368
	600	4.100%, 02/01/21		639
	1,000	Exxon Mobil Corp., 2.397%, 03/06/22		992
	950	Gulf South Pipeline Co. LP, 4.000%, 06/15/22		890
	180	Hess Corp., 7.875%, 10/01/29		213
		Kerr-McGee Corp.,
	200	6.950%, 07/01/24		233
	1,700	7.875%, 09/15/31		2,093
		Magellan Midstream Partners LP,
	353	3.200%, 03/15/25		321
	1,127	5.150%, 10/15/43		1,039
	250	6.550%, 07/15/19		278
		Marathon Oil Corp.,
	833	3.850%, 06/01/25		747
	902	5.900%, 03/15/18		964
	1,620	6.000%, 10/01/17		1,718
	578	Marathon Petroleum Corp., 3.625%, 09/15/24		560
		Noble Energy, Inc.,
	314	5.050%, 11/15/44		284
	568	5.625%, 05/01/21		574
	432	5.875%, 06/01/22		433
		Occidental Petroleum Corp.,
	402	1.750%, 02/15/17		404
	1,022	3.500%, 06/15/25		1,029
		ONEOK Partners LP,
	1,000	3.800%, 03/15/20		977
	2,000	4.900%, 03/15/25		1,809
	350	6.650%, 10/01/36		310
		Petrobras Global Finance B.V., (Netherlands),
	841	4.375%, 05/20/23		582
	1,020	5.375%, 01/27/21		807
	2,622	6.250%, 03/17/24		2,059
	110	6.750%, 01/27/41		75
	350	6.850%, 06/05/151		234
	175	7.875%, 03/15/19		163
		Petro-Canada, (Canada),
	324	6.050%, 05/15/18		352
	1,045	6.800%, 05/15/38		1,284
		Petroleos Mexicanos, (Mexico),
	370	4.250%, 01/15/25 (e)		347
	974	4.500%, 01/23/26 (e)		918
	393	4.875%, 01/18/24		385
	492	5.500%, 06/27/44 (e)		403
	617	5.625%, 01/23/46 (e)		514
	846	6.375%, 01/23/45		780
	250	6.625%, 06/15/35		244
		Phillips 66,
	314	2.950%, 05/01/17		320
	182	4.300%, 04/01/22		191
		Plains All American Pipeline LP/PAA Finance Corp.,
	323	2.600%, 12/15/19		309
	1,000	3.600%, 11/01/24		868
	2,500	4.650%, 10/15/25		2,345
	1,480	4.900%, 02/15/45		1,156
	831	Sinopec Group Overseas Development 2013 Ltd., (United Kingdom), 4.375%, 10/17/23 (e)		867
		Spectra Energy Capital LLC,
	500	3.300%, 03/15/23		441
	1,500	5.650%, 03/01/20		1,599
	500	6.200%, 04/15/18		532
	400	8.000%, 10/01/19		458
		Spectra Energy Partners LP,
	524	2.950%, 09/25/18		525
	452	5.950%, 09/25/43		464
		Statoil ASA, (Norway),
	906	1.150%, 05/15/18		896

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Oil, Gas & Consumable Fuels — continued
	353	1.200%, 01/17/18		350
	406	2.450%, 01/17/23		390
	1,071	2.650%, 01/15/24		1,032
	313	2.750%, 11/10/21		312
	467	3.125%, 08/17/17		482
	300	3.150%, 01/23/22		305
	456	3.250%, 11/10/24		456
	253	4.250%, 11/23/41		250
		Suncor Energy, Inc., (Canada),
	180	5.950%, 12/01/34		200
	250	6.850%, 06/01/39		308
		Sunoco Logistics Partners Operations LP,
	259	4.250%, 04/01/24		234
	531	4.400%, 04/01/21		529
	170	5.300%, 04/01/44		132
	1,133	5.350%, 05/15/45		882
		Talisman Energy, Inc., (Canada),
	1,125	5.500%, 05/15/42		898
	185	5.850%, 02/01/37		158
	190	6.250%, 02/01/38		156
	850	7.750%, 06/01/19		922
	554	Texas Eastern Transmission LP, 2.800%, 10/15/22 (e)		508
		Tosco Corp.,
	310	7.800%, 01/01/27		396
	400	8.125%, 02/15/30		531
	124	Total Capital Canada Ltd., (Canada), VAR, 0.700%, 01/15/16		124
		Total Capital International S.A., (France),
	135	0.750%, 01/25/16		135
	262	1.500%, 02/17/17		263
	508	1.550%, 06/28/17		510
	233	2.700%, 01/25/23		229
	500	2.750%, 06/19/21		504
	370	3.750%, 04/10/24		385
	1,400	Total Capital S.A., (France), 2.300%, 03/15/16		1,407
		TransCanada PipeLines Ltd., (Canada),
	550	6.200%, 10/15/37		607
	340	6.500%, 08/15/18		378
	1,100	7.250%, 08/15/38		1,369
	74	Western Gas Partners LP, 5.375%, 06/01/21		77
				83,176
		Total Energy		90,866
		Financials — 8.5%
		Banks — 3.4%
		ABN AMRO Bank N.V., (Netherlands),
	1,594	1.800%, 06/04/18 (e)		1,586
	669	2.500%, 10/30/18 (e)		676
	616	4.750%, 07/28/25 (e)		619
		ANZ New Zealand International Ltd., (New Zealand),
	750	2.600%, 09/23/19 (e)		755
	402	2.850%, 08/06/20 (e)		408
		Australia & New Zealand Banking Group Ltd., (Australia),
	900	1.450%, 05/15/18		893
	1,268	2.400%, 11/23/16 (e)		1,285
	228	4.875%, 01/12/21 (e)		253
		Bank of America Corp.,
	600	2.000%, 01/11/18		602
	150	3.300%, 01/11/23		150
	520	3.625%, 03/17/16		524
	4,752	3.875%, 08/01/25		4,863
	972	4.000%, 04/01/24		1,004
	547	4.100%, 07/24/23		572
	851	4.250%, 10/22/26		854
	2,065	5.000%, 05/13/21		2,272
	2,730	5.625%, 10/14/16		2,834
	740	5.625%, 07/01/20		832
	420	5.750%, 12/01/17		452
	400	5.875%, 01/05/21		456
	2,996	6.400%, 08/28/17		3,236
	1,564	6.875%, 04/25/18		1,741
	875	7.625%, 06/01/19		1,025
	1,510	7.800%, 09/15/16		1,585
	900	Series L, 2.250%, 04/21/20		886
	1,500	Series L, 2.650%, 04/01/19		1,517
	921	Series L, 3.950%, 04/21/25		910
	645	Series L, 5.650%, 05/01/18		699
		Bank of Montreal, (Canada),
	811	1.400%, 09/11/17		811
	855	2.375%, 01/25/19		866
	1,106	2.550%, 11/06/22		1,097
		Bank of Nova Scotia (The), (Canada),
	2,000	1.450%, 04/25/18		1,985
	1,100	1.700%, 06/11/18		1,100
	1,275	Bank of Tokyo-Mitsubishi UFJ Ltd. (The), (Japan), 2.350%, 02/23/17 (e)		1,286

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Banks — continued
	1,600	Banque Federative du Credit Mutuel S.A., (France), 1.700%, 01/20/17 (e)		1,602
		Barclays Bank plc, (United Kingdom),
	276	2.250%, 05/10/17 (e)		280
	324	3.750%, 05/15/24		330
	310	5.000%, 09/22/16		320
	1,000	6.050%, 12/04/17 (e)		1,072
		Barclays plc, (United Kingdom),
	792	2.875%, 06/08/20		794
	508	3.650%, 03/16/25		493
	435	5.250%, 08/17/45		450
		BB&T Corp.,
	900	2.625%, 06/29/20		910
	750	3.950%, 04/29/16		760
	740	5.250%, 11/01/19		813
	380	6.850%, 04/30/19		435
	632	BNZ International Funding Ltd., (New Zealand), 2.350%, 03/04/19 (e)		632
	695	Branch Banking & Trust Co., 5.625%, 09/15/16		719
	1,952	Canadian Imperial Bank of Commerce, (Canada), 2.250%, 07/21/20 (e)		1,954
	1,650	Capital One Bank USA N.A., 3.375%, 02/15/23		1,630
	978	Capital One N.A., 2.350%, 08/17/18		978
		Citigroup, Inc.,
	1,000	1.700%, 04/27/18		995
	507	1.800%, 02/05/18		507
	800	1.850%, 11/24/17		800
	1,096	2.150%, 07/30/18		1,102
	500	2.400%, 02/18/20		499
	871	3.750%, 06/16/24		894
	433	3.875%, 10/25/23		450
	1,200	4.300%, 11/20/26		1,209
	569	4.400%, 06/10/25		578
	555	4.650%, 07/30/45		565
	250	5.300%, 05/06/44		262
	865	5.500%, 09/13/25		950
	321	5.875%, 01/30/42		375
	2,154	6.000%, 08/15/17		2,317
	475	6.125%, 11/21/17		516
	250	6.625%, 01/15/28		306
	400	8.125%, 07/15/39		585
	148	Comerica, Inc., 3.800%, 07/22/26		147
	1,080	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		1,094
		Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., (Netherlands),
	1,000	2.250%, 01/14/20		1,001
	455	3.375%, 01/19/17		466
	789	3.875%, 02/08/22		834
	1,488	4.375%, 08/04/25		1,519
	500	5.800%, 09/30/102 (e)		543
		Credit Suisse Group Funding Guernsey Ltd., (United Kingdom),
	250	2.750%, 03/26/20 (e)		249
	340	3.750%, 03/26/25 (e)		333
	484	4.875%, 05/15/45 (e)		484
		Discover Bank,
	343	2.600%, 11/13/18		344
	1,000	3.200%, 08/09/21		990
	601	4.200%, 08/08/23		625
		Fifth Third Bancorp,
	70	2.300%, 03/01/19		70
	958	2.875%, 07/27/20		962
	760	5.450%, 01/15/17		793
		Fifth Third Bank,
	600	2.375%, 04/25/19		604
	340	2.875%, 10/01/21		338
		HSBC Bank plc, (United Kingdom),
	1,438	1.500%, 05/15/18 (e)		1,429
	666	4.125%, 08/12/20 (e)		716
	575	4.750%, 01/19/21 (e)		635
		HSBC Holdings plc, (United Kingdom),
	1,056	4.000%, 03/30/22		1,114
	939	4.250%, 08/18/25		945
	530	4.875%, 01/14/22		584
	600	6.100%, 01/14/42		755
		Huntington National Bank (The),
	250	2.000%, 06/30/18		250
	858	2.875%, 08/20/20		857
	680	Industrial & Commercial Bank of China Ltd., (China), 2.351%, 11/13/17		683
	729	KeyBank N.A., 3.180%, 05/22/22		737
		KeyCorp,
	315	2.900%, 09/15/20		315
	300	5.100%, 03/24/21		331
	651	Lloyds Bank plc, (United Kingdom), 1.750%, 03/16/18		651
	2,100	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		2,290

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Banks — continued
		Mizuho Bank Ltd., (Japan),
	393	1.800%, 03/26/18 (e)		391
	623	2.650%, 09/25/19 (e)		627
	270	MUFG Americas Holdings Corp., 2.250%, 02/10/20		267
		National Australia Bank Ltd., (Australia),
	1,500	2.000%, 06/20/17 (e)		1,514
	1,000	3.000%, 07/27/16 (e)		1,014
	250	National City Bank, 5.800%, 06/07/17		265
		Nordea Bank AB, (Sweden),
	1,000	1.625%, 05/15/18 (e)		996
	1,800	3.125%, 03/20/17 (e)		1,842
	945	4.875%, 05/13/21 (e)		1,021
	400	PNC Bank N.A., 6.875%, 04/01/18		441
	182	PNC Financial Services Group, Inc. (The), 3.900%, 04/29/24		186
		PNC Funding Corp.,
	709	3.300%, 03/08/22		730
	567	4.375%, 08/11/20		615
	950	5.625%, 02/01/17		993
	595	6.700%, 06/10/19		685
		Royal Bank of Canada, (Canada),
	985	1.200%, 09/19/17		982
	1,450	1.875%, 02/05/20		1,438
	1,789	2.000%, 10/01/18		1,802
	1,000	2.200%, 07/27/18		1,011
	402	Skandinaviska Enskilda Banken AB, (Sweden), 1.750%, 03/19/18 (e)		401
	927	SpareBank 1 Boligkreditt A.S., (Norway), 1.750%, 11/15/19 (e)		911
	1,148	Stadshypotek AB, (Sweden), 1.875%, 10/02/19 (e)		1,140
	1,300	Standard Chartered plc, (United Kingdom), 5.200%, 01/26/24 (e)		1,350
	880	SunTrust Banks, Inc., 6.000%, 09/11/17		942
	1,411	Svenska Handelsbanken AB, (Sweden), 3.125%, 07/12/16		1,431
		Toronto-Dominion Bank (The), (Canada),
	2,350	1.500%, 03/13/17 (e)		2,358
	521	2.250%, 11/05/19		523
		U.S. Bancorp,
	550	1.650%, 05/15/17		554
	540	3.000%, 03/15/22		552
	566	4.125%, 05/24/21		614
	1,277	7.500%, 06/01/26		1,644
	896	U.S. Bank N.A., 2.800%, 01/27/25		874
	6,606	Wachovia Corp., 5.750%, 02/01/18		7,179
		Wells Fargo & Co.,
	2,174	2.600%, 07/22/20		2,190
	453	3.000%, 02/19/25		440
	850	3.500%, 03/08/22		882
	484	4.100%, 06/03/26		492
	694	4.300%, 07/22/27		715
	702	4.480%, 01/16/24		744
	500	4.600%, 04/01/21		548
	920	4.650%, 11/04/44		901
	1,280	5.606%, 01/15/44		1,430
	2,350	5.625%, 12/11/17		2,541
	1,200	Series N, 2.150%, 01/30/20		1,195
	1,045	SUB, 3.676%, 06/15/16		1,061
		Wells Fargo Bank N.A.,
	1,000	5.600%, 03/15/16		1,014
	250	5.750%, 05/16/16		256
	250	6.000%, 11/15/17		271
		Westpac Banking Corp., (Australia),
	338	2.000%, 03/03/20 (e)		335
	2,141	4.875%, 11/19/19		2,347
				146,059
		Capital Markets — 1.8%
	1,500	Ameriprise Financial, Inc., 4.000%, 10/15/23		1,579
		Bank of New York Mellon Corp. (The),
	880	2.200%, 03/04/19		886
	909	2.400%, 01/17/17		922
	700	3.250%, 09/11/24		705
	413	3.550%, 09/23/21		435
	760	4.600%, 01/15/20		828
	950	Series 0012, 3.650%, 02/04/24		989
		BlackRock, Inc.,
	660	3.375%, 06/01/22		682
	540	3.500%, 03/18/24		555
	385	6.250%, 09/15/17		418
	867	Series 2, 5.000%, 12/10/19		964
		Blackstone Holdings Finance Co. LLC,
	429	4.450%, 07/15/45 (e)		405
	1,940	5.875%, 03/15/21 (e)		2,228
	340	Charles Schwab Corp. (The), 3.225%, 09/01/22		346
		Credit Suisse AG, (Switzerland),
	417	1.750%, 01/29/18		417
	728	2.300%, 05/28/19		732

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Capital Markets — continued
	271	3.000%, 10/29/21		272
	402	3.625%, 09/09/24		405
		Deutsche Bank AG, (Germany),
	591	1.875%, 02/13/18		589
	1,600	2.950%, 08/20/20		1,604
	805	6.000%, 09/01/17		858
	500	FMR LLC, 6.450%, 11/15/39 (e)		619
		Goldman Sachs Group, Inc. (The),
	952	2.600%, 04/23/20		957
	545	2.625%, 01/31/19		555
	453	2.750%, 09/15/20		456
	764	2.900%, 07/19/18		783
	557	3.500%, 01/23/25		555
	3,060	3.625%, 02/07/16		3,076
	525	3.750%, 05/22/25		532
	800	4.000%, 03/03/24		828
	115	4.250%, 10/21/25		115
	848	5.250%, 07/27/21		950
	1,366	5.375%, 03/15/20		1,521
	1,200	5.750%, 01/24/22		1,376
	4,310	5.950%, 01/18/18		4,679
	420	6.150%, 04/01/18		460
	685	6.750%, 10/01/37		821
	2,678	7.500%, 02/15/19		3,118
	949	Series D, 6.000%, 06/15/20		1,084
		ING Bank N.V., (Netherlands),
	500	1.375%, 03/07/16 (e)		501
	1,445	3.750%, 03/07/17 (e)		1,486
		Invesco Finance plc, (United Kingdom),
	390	3.750%, 01/15/26		395
	657	4.000%, 01/30/24		682
		Jefferies Group LLC,
	1,015	5.125%, 04/13/18		1,064
	1,010	6.450%, 06/08/27		1,068
	880	6.875%, 04/15/21		992
		Macquarie Bank Ltd., (Australia),
	291	2.600%, 06/24/19 (e)		292
	1,000	2.850%, 07/29/20 (e)		1,008
	1,000	4.000%, 07/29/25 (e)		1,019
	3,220	5.000%, 02/22/17 (e)		3,349
		Macquarie Group Ltd., (Australia),
	1,200	6.000%, 01/14/20 (e)		1,323
	1,650	6.250%, 01/14/21 (e)		1,858
		Morgan Stanley,
	179	2.375%, 07/23/19		180
	500	2.650%, 01/27/20		504
	2,365	2.800%, 06/16/20		2,391
	1,250	3.700%, 10/23/24		1,271
	703	3.950%, 04/23/27		687
	2,873	4.000%, 07/23/25		2,983
	480	4.350%, 09/08/26		488
	871	5.000%, 11/24/25		939
	1,000	5.450%, 01/09/17		1,045
	1,021	5.500%, 07/24/20		1,148
	380	5.500%, 07/28/21		431
	1,265	5.625%, 09/23/19		1,408
	360	5.750%, 01/25/21		410
	400	6.625%, 04/01/18		443
	970	7.300%, 05/13/19		1,130
		Nomura Holdings, Inc., (Japan),
	1,050	4.125%, 01/19/16		1,054
	547	6.700%, 03/04/20		632
		State Street Corp.,
	369	3.100%, 05/15/23		367
	2,792	3.550%, 08/18/25		2,878
	1,164	3.700%, 11/20/23		1,216
	379	TD Ameritrade Holding Corp., 2.950%, 04/01/22		378
		UBS AG, (Switzerland),
	365	4.875%, 08/04/20		404
	244	5.750%, 04/25/18		265
	247	5.875%, 12/20/17		267
				77,260
		Consumer Finance — 0.9%
	700	American Express Co., 7.000%, 03/19/18		781
		American Express Credit Corp.,
	1,140	1.800%, 07/31/18		1,138
	480	2.375%, 03/24/17		487
	1,455	2.375%, 05/26/20		1,454
	1,028	2.800%, 09/19/16		1,043
	714	Series F, 2.600%, 09/14/20		718
		American Honda Finance Corp.,
	363	1.500%, 09/11/17 (e)		363
	533	1.600%, 02/16/18 (e)		533
	565	2.125%, 02/28/17 (e)		572
	417	2.250%, 08/15/19		420
	1,599	2.600%, 09/20/16 (e)		1,622
	150	7.625%, 10/01/18 (e)		173

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Consumer Finance — continued
		Capital One Financial Corp.,
	750	3.200%, 02/05/25		724
	1,281	3.500%, 06/15/23		1,290
	462	4.200%, 10/29/25		460
		Caterpillar Financial Services Corp.,
	882	2.250%, 12/01/19		886
	402	2.850%, 06/01/22		401
	560	5.500%, 03/15/16		568
	340	7.050%, 10/01/18		387
	585	7.150%, 02/15/19		678
		Ford Motor Credit Co. LLC,
	472	1.684%, 09/08/17		468
	340	2.145%, 01/09/18		338
	991	2.240%, 06/15/18		985
	513	2.375%, 03/12/19		506
	1,653	3.000%, 06/12/17		1,673
	1,917	3.984%, 06/15/16		1,942
	1,162	4.134%, 08/04/25		1,164
	561	4.207%, 04/15/16		568
	200	4.250%, 09/20/22		207
	803	VAR, 1.594%, 05/09/16		805
		General Motors Financial Co., Inc.,
	489	3.100%, 01/15/19		489
	1,091	3.200%, 07/13/20		1,076
	207	HSBC Finance Corp., 7.350%, 11/27/32		258
		HSBC USA, Inc.,
	800	1.625%, 01/16/18		798
	1,077	2.350%, 03/05/20		1,071
	2,469	2.750%, 08/07/20		2,483
		John Deere Capital Corp.,
	759	1.200%, 10/10/17		756
	335	1.700%, 01/15/20		328
	400	2.450%, 09/11/20		401
	233	3.150%, 10/15/21		239
	874	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		873
		PACCAR Financial Corp.,
	626	1.400%, 05/18/18		621
	663	1.600%, 03/15/17		667
		Toyota Motor Credit Corp.,
	412	1.450%, 01/12/18		412
	2,480	2.000%, 09/15/16		2,503
	558	2.100%, 01/17/19		563
				36,892
		Diversified Financial Services — 1.1%
	1,455	Bank of America N.A., 5.300%, 03/15/17		1,521
		Berkshire Hathaway, Inc.,
	2,498	3.400%, 01/31/22		2,635
	840	3.750%, 08/15/21		904
	725	Caisse Centrale Desjardins, (Canada), 2.550%, 03/24/16 (e)		729
		CME Group, Inc.,
	1,230	3.000%, 09/15/22		1,239
	777	3.000%, 03/15/25		768
	285	5.300%, 09/15/43		327
	400	Countrywide Financial Corp., 6.250%, 05/15/16		409
		GE Capital International Funding Co., (Ireland),
	3,710	2.342%, 11/15/20 (e)		3,701
	2,986	3.373%, 11/15/25 (e)		3,021
	3,040	4.418%, 11/15/35 (e)		3,118
		General Electric Capital Corp.,
	167	1.000%, 12/11/15		167
	750	2.300%, 04/27/17		762
	573	3.100%, 01/09/23		586
	573	3.150%, 09/07/22		586
	187	4.625%, 01/07/21		207
	602	4.650%, 10/17/21		671
	191	5.300%, 02/11/21		217
	2,500	5.400%, 02/15/17		2,634
	512	5.500%, 01/08/20		580
	4,380	5.625%, 05/01/18		4,793
	95	5.875%, 01/14/38		117
	794	6.750%, 03/15/32		1,041
		Intercontinental Exchange, Inc.,
	447	2.500%, 10/15/18		451
	884	4.000%, 10/15/23		915
	300	Murray Street Investment Trust I, SUB, 4.647%, 03/09/17		311
	290	National Rural Utilities Cooperative Finance Corp., 10.375%, 11/01/18		357
		Private Export Funding Corp.,
	5,000	Series EE, 2.800%, 05/15/22		5,082
	681	Series KK, 3.550%, 01/15/24		724
		Shell International Finance B.V., (Netherlands),
	212	1.125%, 08/21/17		212
	804	2.125%, 05/11/20		801
	789	4.125%, 05/11/35		787
	1,020	4.300%, 09/22/19		1,100

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Diversified Financial Services — continued
	1,005	4.375%, 03/25/20		1,090
	1,280	6.375%, 12/15/38		1,600
		Siemens Financieringsmaatschappij N.V., (Netherlands),
	634	2.900%, 05/27/22 (e)		638
	513	4.400%, 05/27/45 (e)		532
	300	5.750%, 10/17/16 (e)		312
				45,645
		Insurance — 0.9%
		ACE INA Holdings, Inc.,
	380	2.300%, 11/03/20		377
	533	2.875%, 11/03/22		530
	520	AIG SunAmerica Global Financing X, 6.900%, 03/15/32 (e)		674
	651	Allstate Corp. (The), 3.150%, 06/15/23		653
		American International Group, Inc.,
	674	3.750%, 07/10/25		675
	296	3.875%, 01/15/35		268
	471	4.125%, 02/15/24		490
	1,685	4.700%, 07/10/35		1,685
		Aon Corp.,
	402	3.125%, 05/27/16		406
	306	6.250%, 09/30/40		354
		Berkshire Hathaway Finance Corp.,
	404	1.300%, 05/15/18		403
	233	2.450%, 12/15/15		233
	233	3.000%, 05/15/22		240
	748	4.300%, 05/15/43		729
	1,574	4.400%, 05/15/42		1,562
	1,810	5.400%, 05/15/18		1,979
	120	Chubb Corp. (The), 5.750%, 05/15/18		132
	798	CNA Financial Corp., 3.950%, 05/15/24		800
	563	Jackson National Life Global Funding, 1.875%, 10/15/18 (e)		562
	408	Liberty Mutual Group, Inc., 5.000%, 06/01/21 (e)		439
		Lincoln National Corp.,
	345	4.200%, 03/15/22		362
	253	4.850%, 06/24/21		274
	676	Marsh & McLennan Cos., Inc., 2.350%, 03/06/20		673
	280	Massachusetts Mutual Life Insurance Co., 5.375%, 12/01/41 (e)		302
		MassMutual Global Funding II,
	1,500	2.000%, 04/05/17 (e)		1,515
	626	2.500%, 10/17/22 (e)		602
	540	3.125%, 04/14/16 (e)		545
		MetLife, Inc.,
	600	4.875%, 11/13/43		630
	555	Series A, 6.817%, 08/15/18		627
		Metropolitan Life Global Funding I,
	604	1.500%, 01/10/18 (e)		602
	938	1.875%, 06/22/18 (e)		940
	400	3.125%, 01/11/16 (e)		401
	1,900	3.650%, 06/14/18 (e)		1,985
	1,277	3.875%, 04/11/22 (e)		1,344
	1,750	Nationwide Mutual Insurance Co., 9.375%, 08/15/39 (e)		2,644
		New York Life Global Funding,
	129	1.950%, 02/11/20 (e)		127
	3,951	2.150%, 06/18/19 (e)		3,952
	650	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		677
	570	Pacific Life Insurance Co., 9.250%, 06/15/39 (e)		832
	384	Pricoa Global Funding I, 1.600%, 05/29/18 (e)		382
	166	Principal Financial Group, Inc., 1.850%, 11/15/17		167
		Principal Life Global Funding II,
	304	1.000%, 12/11/15 (e)		304
	953	2.250%, 10/15/18 (e)		961
	1,750	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		2,297
	285	Travelers Cos., Inc. (The), 5.800%, 05/15/18		313
				36,649
		Real Estate Investment Trusts (REITs) — 0.4%
		American Tower Corp.,
	450	3.500%, 01/31/23		439
	567	5.000%, 02/15/24		603
		American Tower Trust I,
	471	1.551%, 03/15/18 (e)		465
	750	3.070%, 03/15/23 (e)		731
		Equity Commonwealth,
	600	5.875%, 09/15/20		648
	1,345	6.650%, 01/15/18		1,430
	608	ERP Operating LP, 4.625%, 12/15/21		663
		HCP, Inc.,
	492	2.625%, 02/01/20		486
	265	3.400%, 02/01/25		246
	1,204	3.875%, 08/15/24		1,170
	230	4.200%, 03/01/24		231

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Real Estate Investment Trusts (REITs) — continued
	598	4.250%, 11/15/23		604
	783	National Retail Properties, Inc., 4.000%, 11/15/25		779
		Prologis LP,
	133	3.750%, 11/01/25		133
	534	4.250%, 08/15/23		564
		Simon Property Group LP,
	917	2.150%, 09/15/17		930
	868	3.375%, 10/01/24		875
	532	3.750%, 02/01/24		553
	579	4.125%, 12/01/21		621
	200	4.375%, 03/01/21		217
	345	6.125%, 05/30/18		384
		Ventas Realty LP,
	242	3.500%, 02/01/25		232
	353	3.750%, 05/01/24		347
	406	4.125%, 01/15/26		406
		Welltower, Inc.,
	223	4.000%, 06/01/25		220
	732	4.500%, 01/15/24		754
				14,731
		Thrifts & Mortgage Finance — 0.0% (g)
	850	BPCE S.A., (France), 1.625%, 01/26/18		846
		Total Financials		358,082
		Health Care — 1.0%
		Biotechnology — 0.3%
		Amgen, Inc.,
	237	2.125%, 05/01/20		234
	491	3.625%, 05/22/24		490
	1,000	3.875%, 11/15/21		1,053
	500	4.950%, 10/01/41		496
	2,000	5.150%, 11/15/41		2,026
	265	5.650%, 06/15/42		291
	680	5.700%, 02/01/19		754
	720	5.750%, 03/15/40		783
		Baxalta, Inc.,
	500	3.600%, 06/23/22 (e)		496
	167	5.250%, 06/23/45 (e)		168
		Biogen, Inc.,
	918	3.625%, 09/15/22		934
	250	5.200%, 09/15/45		251
		Celgene Corp.,
	873	2.875%, 08/15/20		877
	1,336	3.250%, 08/15/22		1,335
	659	3.625%, 05/15/24		655
	633	5.000%, 08/15/45		633
		Gilead Sciences, Inc.,
	539	3.250%, 09/01/22		546
	632	3.500%, 02/01/25		634
	106	4.600%, 09/01/35		108
				12,764
		Health Care Equipment & Supplies — 0.1%
	286	Baxter International, Inc., 1.850%, 06/15/18		285
		Becton, Dickinson & Co.,
	162	2.675%, 12/15/19		164
	243	3.734%, 12/15/24		247
	100	5.000%, 05/15/19		109
		Medtronic, Inc.,
	821	3.150%, 03/15/22		834
	1,025	4.375%, 03/15/35		1,047
				2,686
		Health Care Providers & Services — 0.3%
		Aetna, Inc.,
	265	4.500%, 05/15/42		265
	440	6.750%, 12/15/37		556
		Anthem, Inc.,
	467	2.300%, 07/15/18		471
	615	3.125%, 05/15/22		606
	280	3.300%, 01/15/23		277
	500	4.625%, 05/15/42		484
	535	4.650%, 01/15/43		520
	648	4.650%, 08/15/44		623
		Cardinal Health, Inc.,
	540	2.400%, 11/15/19		542
	690	3.750%, 09/15/25		700
	900	Express Scripts Holding Co., 3.500%, 06/15/24		898
	639	Laboratory Corp. of America Holdings, 3.200%, 02/01/22		630
	164	McKesson Corp., 0.950%, 12/04/15		164
	588	Memorial Sloan-Kettering Cancer Center, Series 2015, 4.200%, 07/01/55		552
	640	Texas Health Resources, 4.330%, 11/15/55		614
		UnitedHealth Group, Inc.,
	472	1.900%, 07/16/18		476
	173	2.750%, 02/15/23		170
	400	2.875%, 03/15/23		397
	697	3.350%, 07/15/22		716
	1,050	3.375%, 11/15/21		1,088

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Health Care Providers & Services — continued
	560	4.625%, 07/15/35		591
	620	6.625%, 11/15/37		792
				12,132
		Life Sciences Tools & Services — 0.0% (g)
		Thermo Fisher Scientific, Inc.,
	176	1.300%, 02/01/17		176
	687	4.150%, 02/01/24		719
				895
		Pharmaceuticals — 0.3%
		AbbVie, Inc.,
	992	1.750%, 11/06/17		996
	1,164	2.500%, 05/14/20		1,156
	609	2.900%, 11/06/22		592
	422	3.200%, 11/06/22		418
	783	4.500%, 05/14/35		761
		Actavis Funding SCS, (Luxembourg),
	453	3.000%, 03/12/20		459
	443	3.450%, 03/15/22		448
	706	4.550%, 03/15/35		694
	275	Actavis, Inc., 3.250%, 10/01/22		273
	250	Allergan, Inc., 2.800%, 03/15/23		238
	395	Bayer U.S. Finance LLC, 2.375%, 10/08/19 (e)		397
	937	Forest Laboratories LLC, 5.000%, 12/15/21 (e)		1,028
	750	GlaxoSmithKline Capital plc, (United Kingdom), 2.850%, 05/08/22		756
	530	GlaxoSmithKline Capital, Inc., 6.375%, 05/15/38		680
		Merck & Co., Inc.,
	650	1.300%, 05/18/18		650
	644	2.350%, 02/10/22		634
	474	2.400%, 09/15/22		467
	562	2.800%, 05/18/23		562
	210	3.700%, 02/10/45		194
	560	Novartis Capital Corp., 3.400%, 05/06/24		581
	650	Pfizer, Inc., 3.000%, 06/15/23		653
		Zoetis, Inc.,
	193	1.875%, 02/01/18		191
	123	4.700%, 02/01/43		107
				12,935
		Total Health Care		41,412
		Industrials — 1.3%
		Aerospace & Defense — 0.2%
	557	Airbus Group Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		543
		BAE Systems Holdings, Inc.,
	500	3.800%, 10/07/24 (e)		500
	400	6.375%, 06/01/19 (e)		449
	676	BAE Systems plc, (United Kingdom), 5.800%, 10/11/41 (e)		754
	200	Boeing Co. (The), 7.950%, 08/15/24		269
	415	Honeywell International, Inc., 5.300%, 03/01/18		450
		Lockheed Martin Corp.,
	387	2.125%, 09/15/16		391
	131	3.100%, 01/15/23		131
	1,281	4.070%, 12/15/42		1,188
	167	4.500%, 05/15/36		169
	292	4.850%, 09/15/41		300
	300	Northrop Grumman Systems Corp., 7.750%, 02/15/31		397
		Precision Castparts Corp.,
	215	0.700%, 12/20/15		215
	1,350	3.250%, 06/15/25		1,342
	340	Raytheon Co., 3.150%, 12/15/24		342
		United Technologies Corp.,
	214	1.800%, 06/01/17		216
	681	3.100%, 06/01/22		696
	543	4.150%, 05/15/45		520
	914	4.500%, 06/01/42		928
				9,800
		Air Freight & Logistics — 0.0% (g)
	318	FedEx Corp., 3.900%, 02/01/35		293
		United Parcel Service of America, Inc.,
	355	8.375%, 04/01/20		444
	160	SUB, 8.375%, 04/01/30		226
	214	United Parcel Service, Inc., 2.450%, 10/01/22		212
				1,175
		Airlines — 0.1%
	399	Air Canada 2013-1 Class A Pass-Through Trust, (Canada), 4.125%, 05/15/25 (e)		404
	208	American Airlines 2011-1 Class A Pass-Through Trust, 5.250%, 01/31/21		221
	597	American Airlines 2013-2 Class A Pass-Through Trust, 4.950%, 01/15/23		637
	180	Continental Airlines 1999-2 Class A-1 Pass-Through Trust, 7.256%, 03/15/20		195
	395	Continental Airlines 2007-1 Class A Pass-Through Trust, 5.983%, 04/19/22		439
	190	Continental Airlines 2012-2 Class A Pass-Through Trust, 4.000%, 10/29/24		195

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Airlines — continued
	384	Delta Air Lines 2010-2 Class A Pass-Through Trust, 4.950%, 05/23/19		405
	147	Delta Air Lines 2011-1 Class A Pass-Through Trust, 5.300%, 04/15/19		157
	377	Delta Air Lines 2012-1 Class A Pass-Through Trust, 4.750%, 05/07/20		398
				3,051
		Commercial Services & Supplies — 0.1%
		ADT Corp. (The),
	820	3.500%, 07/15/22		749
	328	4.875%, 07/15/42		235
	200	Pitney Bowes, Inc., 5.600%, 03/15/18		213
	614	Republic Services, Inc., 3.550%, 06/01/22		630
		Waste Management, Inc.,
	156	3.900%, 03/01/35		146
	214	4.750%, 06/30/20		233
				2,206
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	226	1.625%, 05/08/17		226
	292	2.875%, 05/08/22		288
	145	4.375%, 05/08/42		146
	789	Fluor Corp., 3.375%, 09/15/21		812
				1,472
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	182	1.500%, 11/02/17		182
	170	4.000%, 11/02/32		162
	570	5.600%, 05/15/18		617
	300	7.625%, 04/01/24		377
				1,338
		Industrial Conglomerates — 0.2%
		Danaher Corp.,
	420	2.400%, 09/15/20		422
	667	3.900%, 06/23/21		714
		General Electric Co.,
	212	2.700%, 10/09/22		213
	436	3.375%, 03/11/24		452
	539	Hutchison Whampoa International 12 II Ltd., (Cayman Islands), 3.250%, 11/08/22 (e)		540
	412	Ingersoll-Rand Global Holding Co., Ltd., 4.250%, 06/15/23		424
		Koninklijke Philips N.V., (Netherlands),
	970	3.750%, 03/15/22		1,000
	409	5.750%, 03/11/18		441
	130	7.200%, 06/01/26		158
	981	Pentair Finance SA, (Luxembourg), 2.900%, 09/15/18		979
	192	Roper Technologies, Inc., 3.000%, 12/15/20		192
	223	Tyco International Finance SA, (Luxembourg), 5.125%, 09/14/45		231
				5,766
		Machinery — 0.1%
	164	Caterpillar, Inc., 2.600%, 06/26/22		160
		Deere & Co.,
	819	2.600%, 06/08/22		812
	346	3.900%, 06/09/42		327
		Illinois Tool Works, Inc.,
	400	3.500%, 03/01/24		411
	1,920	3.900%, 09/01/42		1,829
	290	Ingersoll-Rand Co., 6.391%, 11/15/27		322
		Parker-Hannifin Corp.,
	592	4.450%, 11/21/44		616
	215	5.500%, 05/15/18		234
				4,711
		Road & Rail — 0.6%
		Burlington Northern Santa Fe LLC,
	200	3.000%, 03/15/23		198
	522	3.050%, 03/15/22		529
	300	3.450%, 09/15/21		309
	136	3.600%, 09/01/20		142
	249	3.750%, 04/01/24		256
	375	4.375%, 09/01/42		356
	455	4.700%, 09/01/45		460
	769	5.150%, 09/01/43		820
	1,658	5.400%, 06/01/41		1,802
	540	5.650%, 05/01/17		572
	335	5.750%, 03/15/18		366
	425	5.750%, 05/01/40		483
	250	6.700%, 08/01/28		307
		Canadian Pacific Railway Co., (Canada),
	600	4.500%, 01/15/22		640
	1,130	6.125%, 09/15/151		1,153
	250	7.125%, 10/15/31		309
		CSX Corp.,
	400	3.400%, 08/01/24		401
	526	3.950%, 05/01/50		457
	191	4.100%, 03/15/44		176
	300	4.250%, 06/01/21		319
	575	5.500%, 04/15/41		632

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Road & Rail — continued
	215	7.375%, 02/01/19		248
	500	7.900%, 05/01/17		544
		ERAC USA Finance LLC,
	559	4.500%, 08/16/21 (e)		595
	355	5.250%, 10/01/20 (e)		391
	436	5.625%, 03/15/42 (e)		469
	350	6.375%, 10/15/17 (e)		378
	746	6.700%, 06/01/34 (e)		883
		Norfolk Southern Corp.,
	746	3.250%, 12/01/21		747
	595	3.950%, 10/01/42		521
	100	6.000%, 03/15/053		108
	1,510	6.000%, 05/23/114		1,618
	365	7.700%, 05/15/17		397
		Penske Truck Leasing Co. LP/PTL Finance Corp.,
	479	2.875%, 07/17/18 (e)		483
	1,131	3.375%, 02/01/22 (e)		1,105
		Ryder System, Inc.,
	484	2.500%, 03/01/17		488
	723	2.500%, 05/11/20		709
	517	2.875%, 09/01/20		516
	434	3.600%, 03/01/16		436
		Union Pacific Corp.,
	182	2.950%, 01/15/23		183
	838	3.646%, 02/15/24		877
	710	4.163%, 07/15/22		771
	200	4.300%, 06/15/42		203
				23,357
		Trading Companies & Distributors — 0.0% (g)
	655	WW Grainger, Inc., 4.600%, 06/15/45		683
		Total Industrials		53,559
		Information Technology — 1.2%
		Communications Equipment — 0.1%
		Cisco Systems, Inc.,
	197	2.900%, 03/04/21		203
	1,111	3.000%, 06/15/22		1,134
	335	3.500%, 06/15/25		347
	500	3.625%, 03/04/24		526
	988	5.500%, 02/22/16		999
	350	5.500%, 01/15/40		412
	755	5.900%, 02/15/39		923
				4,544
		Electronic Equipment, Instruments & Components — 0.1%
		Arrow Electronics, Inc.,
	219	3.000%, 03/01/18		220
	190	4.500%, 03/01/23		193
	165	6.000%, 04/01/20		180
	500	6.875%, 06/01/18		547
	1,563	7.500%, 01/15/27		1,853
				2,993
		Internet Software & Services — 0.0% (g)
		eBay, Inc.,
	1,500	2.600%, 07/15/22		1,405
	500	3.450%, 08/01/24		479
	271	4.000%, 07/15/42		211
				2,095
		IT Services — 0.2%
		International Business Machines Corp.,
	409	1.250%, 02/08/18		408
	3,267	1.625%, 05/15/20		3,215
	765	6.220%, 08/01/27		950
	3,675	7.625%, 10/15/18		4,272
		Xerox Corp.,
	271	2.950%, 03/15/17		274
	270	4.500%, 05/15/21		273
	610	5.625%, 12/15/19		653
	550	6.750%, 02/01/17		579
				10,624
		Semiconductors & Semiconductor Equipment — 0.1%
		Intel Corp.,
	375	3.100%, 07/29/22		385
	397	3.300%, 10/01/21		416
	652	3.700%, 07/29/25		679
	1,185	4.000%, 12/15/32		1,162
	453	4.900%, 07/29/45		478
	1,460	National Semiconductor Corp., 6.600%, 06/15/17		1,581
	365	Texas Instruments, Inc., 1.650%, 08/03/19		362
				5,063
		Software — 0.4%
	470	Intuit, Inc., 5.750%, 03/15/17		495
		Microsoft Corp.,
	262	0.875%, 11/15/17		262
	384	2.125%, 11/15/22		373
	500	2.375%, 02/12/22		496
	1,310	2.375%, 05/01/23		1,288

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Software — continued
	291	3.500%, 02/12/35		268
	1,155	3.625%, 12/15/23		1,227
	305	4.000%, 02/12/55		271
	615	4.200%, 11/03/35		621
	117	4.500%, 10/01/40		121
	639	4.750%, 11/03/55		643
		Oracle Corp.,
	1,750	2.950%, 05/15/25		1,711
	1,000	3.625%, 07/15/23		1,040
	457	4.300%, 07/08/34		459
	1,740	4.375%, 05/15/55		1,619
	500	5.000%, 07/08/19		554
	1,422	5.250%, 01/15/16		1,430
	813	5.750%, 04/15/18		894
	475	6.500%, 04/15/38		600
	586	Series NOTE, 2.800%, 07/08/21		595
				14,967
		Technology Hardware, Storage & Peripherals — 0.3%
		Apple, Inc.,
	927	2.150%, 02/09/22		909
	2,556	2.400%, 05/03/23		2,497
	2,364	2.850%, 05/06/21		2,426
	1,539	3.200%, 05/13/25		1,559
	625	3.450%, 02/09/45		537
	2,069	VAR, 0.584%, 05/03/18		2,069
	300	Dell, Inc., 7.100%, 04/15/28		291
		HP, Inc.,
	282	4.300%, 06/01/21		281
	472	4.375%, 09/15/21		474
	201	4.650%, 12/09/21		203
	849	6.000%, 09/15/41		781
				12,027
		Total Information Technology		52,313
		Materials — 0.5%
		Chemicals — 0.3%
		Agrium, Inc., (Canada),
	490	3.375%, 03/15/25		453
	525	4.125%, 03/15/35		453
	757	5.250%, 01/15/45		734
	500	CF Industries, Inc., 7.125%, 05/01/20		573
		Dow Chemical Co. (The),
	542	3.000%, 11/15/22		533
	850	3.500%, 10/01/24		829
	693	4.125%, 11/15/21		732
	200	5.250%, 11/15/41		197
	375	7.375%, 11/01/29		470
	73	8.550%, 05/15/19		87
	253	E.I. du Pont de Nemours & Co., 4.900%, 01/15/41		250
		Ecolab, Inc.,
	447	1.450%, 12/08/17		445
	150	5.500%, 12/08/41		166
	208	Monsanto Co., 4.700%, 07/15/64		175
		Mosaic Co. (The),
	280	3.750%, 11/15/21		282
	1,456	4.250%, 11/15/23		1,461
	79	4.875%, 11/15/41		73
	861	5.450%, 11/15/33		879
	347	5.625%, 11/15/43		352
		Potash Corp. of Saskatchewan, Inc., (Canada),
	660	3.000%, 04/01/25		621
	85	3.250%, 12/01/17		87
		PPG Industries, Inc.,
	114	5.500%, 11/15/40		128
	122	6.650%, 03/15/18		134
	355	9.000%, 05/01/21		455
	473	Praxair, Inc., 2.650%, 02/05/25		456
		Union Carbide Corp.,
	1,000	7.500%, 06/01/25		1,196
	850	7.750%, 10/01/96		1,038
				13,259
		Construction Materials — 0.0% (g)
		CRH America, Inc.,
	417	3.875%, 05/18/25 (e)		416
	893	5.125%, 05/18/45 (e)		910
				1,326
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	815	3.850%, 09/30/23		806
	150	5.000%, 09/30/43		143
	410	5.400%, 03/29/17		430
	560	6.500%, 04/01/19		628
		Freeport-McMoRan, Inc.,
	1,329	2.150%, 03/01/17		1,256
	1,138	3.875%, 03/15/23		765
	961	5.400%, 11/14/34		615
	323	5.450%, 03/15/43		203
	283	Nucor Corp., 4.000%, 08/01/23		283

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Metals & Mining — continued
	295	Placer Dome, Inc., (Canada), 6.450%, 10/15/35		262
		Rio Tinto Finance USA Ltd., (Australia),
	550	3.750%, 09/20/21		560
	650	9.000%, 05/01/19		780
	393	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		390
		Teck Resources Ltd., (Canada),
	514	3.750%, 02/01/23		270
	676	4.750%, 01/15/22		375
				7,766
		Total Materials		22,351
		Telecommunication Services — 1.2%
		Diversified Telecommunication Services — 1.1%
		AT&T, Inc.,
	736	2.450%, 06/30/20		729
	3,094	3.000%, 06/30/22		3,060
	1,120	3.400%, 05/15/25		1,087
	425	3.875%, 08/15/21		443
	879	4.300%, 12/15/42		769
	462	4.350%, 06/15/45		403
	425	4.450%, 05/15/21		457
	485	4.500%, 05/15/35		455
	563	4.750%, 05/15/46		527
	375	5.350%, 09/01/40		374
	250	5.500%, 02/01/18		270
	2,700	6.300%, 01/15/38		3,009
	700	Bellsouth Capital Funding Corp., 7.875%, 02/15/30		837
	2,250	BellSouth Corp., 6.550%, 06/15/34		2,377
	123	BellSouth Telecommunications LLC, 6.300%, 12/15/15		123
		British Telecommunications plc, (United Kingdom),
	531	2.350%, 02/14/19		533
	150	9.625%, 12/15/30		220
	600	Centel Capital Corp., 9.000%, 10/15/19		691
		Deutsche Telekom International Finance B.V., (Netherlands),
	336	2.250%, 03/06/17 (e)		339
	232	4.875%, 03/06/42 (e)		238
	400	6.000%, 07/08/19		450
	325	8.750%, 06/15/30		456
		GTP Acquisition Partners I LLC,
	1,236	2.350%, 06/15/20 (e)		1,210
	1,436	3.482%, 06/16/25 (e)		1,412
	267	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		267
		Orange S.A., (France),
	560	2.750%, 09/14/16		567
	1,305	9.000%, 03/01/31		1,889
	741	Qwest Corp., 6.750%, 12/01/21		777
		Telefonica Emisiones S.A.U., (Spain),
	252	3.192%, 04/27/18		258
	526	5.134%, 04/27/20		579
	316	5.462%, 02/16/21		356
	300	6.421%, 06/20/16		308
		Verizon Communications, Inc.,
	432	2.625%, 02/21/20		436
	983	3.000%, 11/01/21		985
	2,804	3.500%, 11/01/24		2,813
	938	4.150%, 03/15/24		983
	1,685	4.400%, 11/01/34		1,596
	1,762	4.500%, 09/15/20		1,913
	730	4.522%, 09/15/48		663
	1,085	4.672%, 03/15/55		964
	4,762	4.862%, 08/21/46		4,629
	531	5.150%, 09/15/23		594
	100	5.850%, 09/15/35		110
	572	6.400%, 09/15/33		667
	43	6.550%, 09/15/43		52
	764	Verizon New England, Inc., 7.875%, 11/15/29		950
		Verizon Pennsylvania LLC,
	750	6.000%, 12/01/28		806
	1,444	8.350%, 12/15/30		1,834
	500	8.750%, 08/15/31		614
				46,079
		Wireless Telecommunication Services — 0.1%
		America Movil S.A.B. de C.V., (Mexico),
	640	2.375%, 09/08/16		643
	592	3.125%, 07/16/22		586
		Rogers Communications, Inc., (Canada),
	1,547	4.100%, 10/01/23		1,612
	400	8.750%, 05/01/32		542
		Vodafone Group plc, (United Kingdom),
	350	1.500%, 02/19/18		349
	1,200	1.625%, 03/20/17		1,203
				4,935
		Total Telecommunication Services		51,014

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Utilities — 1.5%
		Electric Utilities — 1.0%
		Alabama Power Co.,
	214	3.750%, 03/01/45		195
	239	6.125%, 05/15/38		290
	286	American Electric Power Co., Inc., 1.650%, 12/15/17		284
		Arizona Public Service Co.,
	133	2.200%, 01/15/20		132
	296	4.500%, 04/01/42		306
	467	5.050%, 09/01/41		511
	455	Baltimore Gas & Electric Co., 2.800%, 08/15/22		448
	1,025	Cleveland Electric Illuminating Co. (The), Series D, 7.880%, 11/01/17		1,132
	831	Comision Federal de Electricidad, (Mexico), 4.875%, 05/26/21 (e)		860
	195	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		214
	224	DTE Electric Co., 2.650%, 06/15/22		221
		Duke Energy Carolinas LLC,
	129	4.250%, 12/15/41		129
	660	5.100%, 04/15/18		711
	100	6.000%, 01/15/38		124
		Duke Energy Florida LLC,
	290	5.650%, 06/15/18		317
	245	6.400%, 06/15/38		317
	1,320	Duke Energy Indiana, Inc., 6.350%, 08/15/38		1,692
		Duke Energy Progress LLC,
	540	2.800%, 05/15/22		542
	792	3.250%, 08/15/25		802
	273	4.100%, 05/15/42		267
	125	4.100%, 03/15/43		122
	387	4.150%, 12/01/44		383
	325	5.300%, 01/15/19		360
		Electricite de France S.A., (France),
	770	2.150%, 01/22/19 (e)		770
	1,300	6.000%, 01/22/145 (e)		1,285
	950	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		1,037
	350	Florida Power & Light Co., 5.950%, 02/01/38		441
	210	Georgia Power Co., 5.950%, 02/01/39		237
	229	Great Plains Energy, Inc., 4.850%, 06/01/21		247
		Hydro-Quebec, (Canada),
	1,000	Series HY, 8.400%, 01/15/22		1,305
	350	Series IO, 8.050%, 07/07/24		474
	100	Indiana Michigan Power Co., 7.000%, 03/15/19		114
	100	Jersey Central Power & Light Co., 7.350%, 02/01/19		113
	797	John Sevier Combined Cycle Generation LLC, 4.626%, 01/15/42		870
		Kansas City Power & Light Co.,
	403	3.150%, 03/15/23		397
	1,400	5.300%, 10/01/41		1,530
	424	Louisville Gas & Electric Co., Series 25, 3.300%, 10/01/25		429
	125	MidAmerican Energy Co., 5.300%, 03/15/18		135
		Nevada Power Co.,
	55	5.375%, 09/15/40		61
	305	5.450%, 05/15/41		344
	720	6.500%, 08/01/18		803
	100	Series N, 6.650%, 04/01/36		128
		NextEra Energy Capital Holdings, Inc.,
	371	2.400%, 09/15/19		367
	725	6.000%, 03/01/19		798
	225	7.875%, 12/15/15		226
		Niagara Mohawk Power Corp.,
	493	3.508%, 10/01/24 (e)		497
	300	4.881%, 08/15/19 (e)		322
	510	Northern States Power Co., 6.250%, 06/01/36		650
	320	Ohio Power Co., 6.050%, 05/01/18		349
		Oncor Electric Delivery Co. LLC,
	840	6.800%, 09/01/18		937
	110	7.000%, 09/01/22		133
		Pacific Gas & Electric Co.,
	544	2.450%, 08/15/22		528
	71	3.250%, 09/15/21		73
	250	3.250%, 06/15/23		253
	781	3.500%, 06/15/25		796
	217	4.450%, 04/15/42		219
	390	4.500%, 12/15/41		392
	810	5.625%, 11/30/17		870
	100	6.050%, 03/01/34		120
	160	8.250%, 10/15/18		187
		PacifiCorp,
	180	5.500%, 01/15/19		199

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Electric Utilities — continued
	150	5.650%, 07/15/18		164
		PECO Energy Co.,
	350	2.375%, 09/15/22		342
	175	5.350%, 03/01/18		189
	1,085	Potomac Electric Power Co., 6.500%, 11/15/37		1,401
	673	Progress Energy, Inc., 3.150%, 04/01/22		667
		Public Service Co. of Colorado,
	250	2.250%, 09/15/22		242
	90	3.200%, 11/15/20		94
	125	5.800%, 08/01/18		137
	2,490	Public Service Co. of Oklahoma, Series G, 6.625%, 11/15/37		3,010
		Public Service Electric & Gas Co.,
	833	3.000%, 05/15/25		829
	210	5.300%, 05/01/18		228
	317	5.375%, 11/01/39		369
	65	South Carolina Electric & Gas Co., 4.500%, 06/01/64		61
		Southern California Edison Co.,
	144	1.845%, 02/01/22		143
	785	5.500%, 08/15/18		859
	1,185	6.050%, 03/15/39		1,478
	200	Series 08-A, 5.950%, 02/01/38		247
	318	Series C, 3.500%, 10/01/23		332
	363	Southern Co. (The), 1.950%, 09/01/16		366
	570	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		677
	312	State Grid Overseas Investment 2013 Ltd., (United Kingdom), 1.750%, 05/22/18 (e)		309
		Virginia Electric & Power Co.,
	64	3.450%, 02/15/24		66
	1,415	5.400%, 04/30/18		1,538
	630	5.950%, 09/15/17		679
		Wisconsin Electric Power Co.,
	21	2.950%, 09/15/21		21
	275	6.250%, 12/01/15		275
		Xcel Energy, Inc.,
	162	0.750%, 05/09/16		162
	92	4.800%, 09/15/41		95
	200	6.500%, 07/01/36		246
				44,221
		Gas Utilities — 0.1%
		Atmos Energy Corp.,
	125	4.125%, 10/15/44		121
	828	4.150%, 01/15/43		797
	375	8.500%, 03/15/19		442
	308	Boston Gas Co., 4.487%, 02/15/42 (e)		301
	335	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		362
	382	Dominion Gas Holdings LLC, 2.800%, 11/15/20		383
				2,406
		Independent Power & Renewable Electricity Producers — 0.1%
		Exelon Generation Co. LLC,
	300	2.950%, 01/15/20		300
	1,020	4.000%, 10/01/20		1,055
	235	5.750%, 10/01/41		233
		PSEG Power LLC,
	772	4.150%, 09/15/21		799
	442	4.300%, 11/15/23		443
		Southern Power Co.,
	357	4.150%, 12/01/25		359
	202	5.150%, 09/15/41		194
				3,383
		Multi-Utilities — 0.3%
		AGL Capital Corp.,
	563	3.500%, 09/15/21		573
	208	4.400%, 06/01/43		191
	1,445	5.875%, 03/15/41		1,610
	1,243	6.375%, 07/15/16		1,282
	596	Consolidated Edison Co. of New York, Inc., 5.700%, 06/15/40		703
		Consumers Energy Co.,
	216	2.850%, 05/15/22		215
	130	5.650%, 04/15/20		147
	235	Delmarva Power & Light Co., 4.000%, 06/01/42		224
		Dominion Resources, Inc.,
	300	7.000%, 06/15/38		370
	920	Series F, 5.250%, 08/01/33		965
		DTE Energy Co.,
	992	3.300%, 06/15/22 (e)		1,001
	289	Series F, 3.850%, 12/01/23		298
		NiSource Finance Corp.,
	370	3.850%, 02/15/23		380
	1,256	5.800%, 02/01/42		1,438

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Multi-Utilities — continued
		San Diego Gas & Electric Co.,
	379	3.950%, 11/15/41		369
	275	6.000%, 06/01/26		341
		Sempra Energy,
	350	2.875%, 10/01/22		341
	236	3.550%, 06/15/24		237
	1,013	4.050%, 12/01/23		1,057
	1,150	6.150%, 06/15/18		1,261
	180	6.500%, 06/01/16		185
	460	9.800%, 02/15/19		561
	1,009	WEC Energy Group, Inc., 3.550%, 06/15/25		1,020
				14,769
		Water Utilities — 0.0% (g)
	793	American Water Capital Corp., 3.400%, 03/01/25		811
		Total Utilities		65,590
		Total Corporate Bonds (Cost $813,708)		830,336
	Foreign Government Securities — 1.2%
		Federative Republic of Brazil, (Brazil),
	825	4.250%, 01/07/25		712
	472	5.000%, 01/27/45		342
		Israel Government AID Bond, (Israel),
	6,165	Zero Coupon, 11/01/23		4,959
	2,121	Zero Coupon, 02/15/24		1,691
	5,535	Zero Coupon, 05/01/24		4,367
	1,000	5.500%, 09/18/33		1,299
	1,000	Series 1, Zero Coupon, 05/01/23		823
	1,500	Series 2, Zero Coupon, 11/01/24		1,153
	1,776	Series 6-Z, Zero Coupon, 02/15/22		1,531
	5,000	Series 7-Z, Zero Coupon, 08/15/25		3,746
	3,424	Series 8-Z, Zero Coupon, 02/15/24		2,730
	2,000	Series 8-Z, Zero Coupon, 08/15/24		1,555
	7,805	Series 10-Z, Zero Coupon, 08/15/24		6,068
	1,387	Province of Ontario, (Canada), 1.650%, 09/27/19		1,374
	377	Province of Quebec, (Canada), Series A, SUB, 7.365%, 03/06/26		508
		Republic of Colombia, (Colombia),
	422	4.000%, 02/26/24		413
	581	4.500%, 01/28/26		574
	515	5.000%, 06/15/45		451
	200	5.625%, 02/26/44		190
		Republic of Panama, (Panama),
	317	3.750%, 03/16/25		312
	416	4.000%, 09/22/24		419
	88	Republic of Peru, (Peru), 5.625%, 11/18/50		93
	1,133	Republic of Poland, (Poland), 4.000%, 01/22/24		1,199
		Republic of South Africa, (South Africa),
	1,436	5.375%, 07/24/44		1,381
	640	5.875%, 09/16/25		690
		Republic of Turkey, (Turkey),
	2,350	4.250%, 04/14/26		2,224
	719	5.750%, 03/22/24		765
		United Mexican States, (Mexico),
	2,030	3.500%, 01/21/21		2,067
	788	3.600%, 01/30/25		778
	1,732	4.000%, 10/02/23		1,767
	200	4.600%, 01/23/46		183
	120	4.750%, 03/08/44		113
	4,913	5.550%, 01/21/45		5,159
		Total Foreign Government Securities (Cost $51,493)		51,636
	Mortgage Pass-Through Securities — 16.0%
		Federal Home Loan Mortgage Corp.,
	15	ARM, 2.171%, 07/01/19		15
	329	ARM, 2.261%, 10/01/36		346
	89	ARM, 2.352%, 10/01/36		95
	418	ARM, 2.355%, 12/01/33		447
	870	ARM, 2.365%, 03/01/37		919
	294	ARM, 2.372%, 12/01/36		312
	419	ARM, 2.375%, 01/01/35		445
	750	ARM, 2.385%, 04/01/34		796
	31	ARM, 2.410%, 04/01/30		32
	323	ARM, 2.417%, 11/01/36		343
	197	ARM, 2.432%, 02/01/36		208
	165	ARM, 2.480%, 02/01/37		175
	108	ARM, 2.500%, 05/01/36		114
	429	ARM, 2.516%, 11/01/36		456
	401	ARM, 2.660%, 02/01/36		427
	270	ARM, 2.737%, 12/01/34		287
	471	ARM, 2.966%, 10/01/36		502
	234	ARM, 3.381%, 07/01/36		243
	1,105	ARM, 3.983%, 07/01/40		1,162
		Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	50	4.500%, 08/01/18		51
	139	5.000%, 12/01/18		144
	7	5.500%, 06/01/17		7
	18	6.000%, 04/01/18		19

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	121	6.500%, 08/01/16 – 02/01/19		124
	1	7.000%, 04/01/17		1
		Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	2,154	3.500%, 01/01/32 – 03/01/32		2,262
	69	6.000%, 12/01/22		78
		Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	3,257	3.500%, 04/01/43		3,375
	789	4.000%, 09/01/35		837
	4,421	4.500%, 05/01/41		4,789
	3,537	5.000%, 09/01/34 – 08/01/40		3,907
	1,468	5.500%, 10/01/33 – 07/01/35		1,651
	300	6.000%, 12/01/33 – 01/01/34		342
	1,240	6.500%, 11/01/34 – 11/01/36		1,428
	389	7.000%, 07/01/32 – 10/01/36		448
	383	Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		425
		Federal Home Loan Mortgage Corp. Gold Pools, Other,
	2,473	3.000%, 03/01/33		2,534
	22,097	3.500%, 10/01/32 – 06/01/43		23,067
	7,469	4.000%, 01/01/32 – 01/01/43		7,997
	335	5.500%, 10/01/33 – 01/01/34		366
	258	6.000%, 02/01/33		281
	55	7.000%, 07/01/29		61
		Federal National Mortgage Association,
	543	ARM, 1.788%, 07/01/33		562
	808	ARM, 1.793%, 01/01/33		841
	64	ARM, 1.813%, 09/01/34		67
	3	ARM, 1.915%, 01/01/19		3
	1,134	ARM, 1.928%, 01/01/35		1,185
	520	ARM, 1.940%, 07/01/36		546
	380	ARM, 1.962%, 11/01/34		398
	4	ARM, 1.979%, 03/01/19		4
	1,129	ARM, 2.029%, 09/01/35		1,179
	493	ARM, 2.050%, 05/01/35		517
	242	ARM, 2.070%, 04/01/34		254
	591	ARM, 2.120%, 01/01/35		627
	213	ARM, 2.144%, 01/01/36		224
	116	ARM, 2.187%, 02/01/35		123
	613	ARM, 2.200%, 06/01/35		645
	950	ARM, 2.249%, 11/01/34		997
	181	ARM, 2.251%, 01/01/34		192
	19	ARM, 2.262%, 04/01/34		19
	170	ARM, 2.311%, 07/01/34		182
	133	ARM, 2.345%, 05/01/35		140
	213	ARM, 2.372%, 09/01/34		225
	138	ARM, 2.375%, 09/01/35		148
	428	ARM, 2.379%, 10/01/34		451
	668	ARM, 2.383%, 10/01/34		701
	280	ARM, 2.392%, 08/01/34		297
	46	ARM, 2.402%, 07/01/33		48
	515	ARM, 2.409%, 08/01/34		545
	118	ARM, 2.410%, 01/01/38		126
	1,381	ARM, 2.428%, 04/01/35		1,463
	481	ARM, 2.443%, 07/01/33		510
	283	ARM, 2.455%, 04/01/35		299
	626	ARM, 2.460%, 05/01/34 – 06/01/36		667
	153	ARM, 2.527%, 11/01/33		161
	47	ARM, 2.559%, 09/01/27		51
	235	ARM, 2.634%, 10/01/34		250
	367	ARM, 2.685%, 09/01/33		394
	577	ARM, 2.835%, 10/01/36		617
	69	ARM, 2.875%, 01/01/36		71
	101	ARM, 3.000%, 02/01/34		103
	29	ARM, 3.737%, 03/01/29		31
		Federal National Mortgage Association, 15 Year, Single Family,
	205	4.000%, 08/01/18		214
	1,083	4.500%, 06/01/18 – 12/01/19		1,125
	442	5.000%, 06/01/18 – 08/01/24		470
	332	5.500%, 03/01/20 – 07/01/20		345
	2,696	6.000%, 06/01/16 – 01/01/24		2,943
	67	6.500%, 03/01/17 – 08/01/20		70
	54	7.000%, 03/01/17 – 09/01/17		55
	1	7.500%, 03/01/17		1
		Federal National Mortgage Association, 20 Year, Single Family,
	1,277	3.500%, 08/01/32		1,340
	81	4.500%, 04/01/24		87
	686	6.500%, 05/01/22 – 04/01/25		786
		Federal National Mortgage Association, 30 Year, FHA/VA,
	74	6.000%, 09/01/33		82
	780	6.500%, 03/01/29 – 08/01/39		888
	12	7.000%, 02/01/33		13
	38	8.000%, 06/01/28		43
	5	9.000%, 05/01/18		5
		Federal National Mortgage Association, 30 Year, Single Family,
	258	4.500%, 11/01/33 – 02/01/35		281

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	1,076		5.000%, 07/01/33 – 09/01/35		1,206
	1,504		5.500%, 09/01/31 – 03/01/34		1,711
	1,876		6.000%, 12/01/28 – 09/01/37		2,150
	839		6.500%, 11/01/29 – 08/01/31		961
	697		7.000%, 01/01/24 – 01/01/39		814
	269		7.500%, 08/01/36 – 11/01/37		310
	458		8.000%, 03/01/27 – 11/01/28		537
	–	(h)	9.000%, 04/01/26		—	(h)
	10		9.500%, 07/01/28		11
			Federal National Mortgage Association, Other,
	4,000		VAR, 0.563%, 12/01/24		3,999
	2,825		VAR, 0.583%, 01/01/23		2,846
	4,816		VAR, 0.653%, 11/01/23		4,850
	4,000		VAR, 0.663%, 12/01/23		4,025
	2,893		VAR, 0.683%, 11/01/23		2,892
	4,740		VAR, 0.743%, 02/01/19		4,729
	927		VAR, 0.993%, 03/01/22		927
	2,371		VAR, 6.070%, 11/01/18		2,497
	2,000		1.690%, 12/01/19		1,984
	3,450		1.735%, 05/01/20		3,421
	3,825		1.750%, 06/01/20		3,795
	1,953		1.940%, 07/01/19		1,968
	1,500		2.000%, 12/01/20		1,505
	12,000		2.010%, 06/01/20		12,025
	222		2.030%, 08/01/19		226
	2,500		2.120%, 09/01/21		2,478
	1,937		2.140%, 04/01/19		1,966
	1,436		2.150%, 04/01/19		1,459
	3,622		2.340%, 12/01/22		3,613
	1,903		2.350%, 05/01/23		1,896
	5,274		2.390%, 12/01/22		5,356
	3,500		2.400%, 12/01/22		3,490
	2,872		2.420%, 06/01/23		2,865
	4,000		2.450%, 11/01/22		4,000
	2,819		2.460%, 02/01/23		2,827
	5,450		2.490%, 10/01/17		5,552
	1,433		2.510%, 06/01/23		1,438
	6,885		2.520%, 10/01/22 – 05/01/23		6,883
	5,000		2.590%, 11/01/21		5,076
	2,500		2.660%, 12/01/22		2,593
	3,000		2.670%, 07/01/22		3,041
	6,614		2.690%, 10/01/17		6,758
	3,291		2.703%, 04/01/23		3,337
	3,137		2.750%, 03/01/22		3,204
	3,000		2.760%, 05/01/21		3,104
	1,565		2.770%, 05/01/22		1,598
	5,145		2.780%, 06/01/27		5,061
	10,986		2.790%, 05/01/27 – 06/01/27		10,794
	4,654		2.800%, 07/01/23		4,723
	6,500		2.900%, 12/01/24		6,541
	12,000		2.920%, 12/01/24 – 05/01/30		12,153
	1,410		2.940%, 05/01/22		1,454
	6,332		2.950%, 08/01/23 – 12/01/24		6,487
	3,019		2.960%, 06/01/27		3,018
	4,000		2.970%, 06/01/30		3,899
	6,462		2.980%, 03/01/22 – 07/01/22		6,677
	1,000		2.990%, 01/01/25		1,016
	2,640		3.000%, 01/01/43		2,647
	2,413		3.020%, 07/01/23		2,494
	3,259		3.030%, 06/01/35		3,348
	13,000		3.040%, 12/01/24 – 04/01/30		12,918
	5,820		3.050%, 04/01/22		6,019
	6,814		3.070%, 01/01/22		7,077
	14,150		3.080%, 04/01/30 – 06/01/30		13,953
	8,850		3.100%, 05/01/30		8,761
	6,268		3.110%, 12/01/24 – 12/01/26		6,386
	11,790		3.120%, 01/01/22 – 06/01/35		12,029
	3,018		3.140%, 12/01/26		3,070
	1,411		3.150%, 12/01/21		1,470
	2,670		3.160%, 02/01/22		2,783
	3,000		3.170%, 02/01/30		2,988
	3,852		3.200%, 02/01/22		4,024
	9,497		3.230%, 11/01/20		9,965
	4,235		3.240%, 12/01/26		4,426
	13,869		3.250%, 07/01/25 – 09/01/26		14,253
	6,153		3.260%, 01/01/22 – 12/01/26		6,360
	13,932		3.290%, 10/01/20 – 11/01/26		14,362
	8,022		3.300%, 12/01/26 – 07/01/30		8,144
	3,000		3.340%, 02/01/27		3,099
	3,917		3.350%, 11/01/20 – 09/01/30		4,052
	901		3.375%, 11/01/20		950
	2,000		3.380%, 12/01/23		2,098
	2,000		3.390%, 08/01/17		2,067
	1,407		3.430%, 09/01/20		1,485
	43,782		3.500%, 12/01/32 – 08/01/43		45,589
	1,885		3.520%, 01/01/18		1,956
	3,000		3.540%, 10/01/20		3,184
	2,000		3.550%, 02/01/30		2,071
	2,500		3.590%, 08/01/23		2,656
	2,775		3.600%, 09/01/20		2,948

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	957	3.640%, 01/01/25		1,016
	5,000	3.670%, 07/01/23		5,328
	1,500	3.690%, 11/01/23		1,601
	4,477	3.730%, 07/01/22		4,794
	1,836	3.740%, 07/01/20		1,972
	4,958	3.760%, 10/01/23 – 11/01/23		5,312
	4,000	3.765%, 12/01/25		4,270
	3,000	3.770%, 09/01/21		3,225
	2,806	3.780%, 09/01/21		3,019
	3,634	3.783%, 01/01/26		3,901
	6,527	3.790%, 09/01/21		6,973
	4,553	3.820%, 06/01/17		4,685
	1,540	3.870%, 01/01/21		1,658
	5,000	3.890%, 09/01/21		5,387
	3,855	3.930%, 07/01/20 – 01/01/21		4,161
	7,929	3.950%, 07/01/20 – 07/01/21		8,588
	1,848	3.970%, 12/01/25		1,998
	8,122	4.000%, 10/01/32 – 07/01/42		8,688
	1,621	4.120%, 04/01/20		1,758
	5,786	4.130%, 11/01/19 – 08/01/21		6,263
	1,824	4.240%, 11/01/19		1,969
	4,380	4.250%, 04/01/21		4,803
	2,000	4.260%, 07/01/21		2,195
	2,085	4.290%, 06/01/20		2,272
	1,149	4.293%, 01/01/21		1,256
	2,348	4.300%, 08/01/20 – 04/01/21		2,576
	1,364	4.307%, 07/01/21		1,505
	2,065	4.330%, 04/01/21		2,266
	5,000	4.340%, 06/01/21		5,520
	1,432	4.350%, 04/01/20		1,560
	1,896	4.369%, 02/01/20		2,061
	1,401	4.380%, 01/01/21		1,537
	812	4.381%, 04/01/20		888
	1,947	4.390%, 05/01/21		2,145
	2,000	4.400%, 02/01/20		2,183
	2,816	4.480%, 02/01/21		3,104
	6,307	4.514%, 12/01/19		6,861
	6,955	4.540%, 01/01/20 – 07/01/26		7,751
	3,773	4.640%, 01/01/21		4,181
	1,841	5.240%, 07/01/19		2,049
	318	5.500%, 03/01/17 – 09/01/33		350
	607	6.000%, 09/01/37 – 06/01/39		681
	217	6.500%, 01/01/36 – 07/01/36		241
	60	7.000%, 10/01/46		66
	28	10.498%, 04/15/19		32
		Government National Mortgage Association II, 30 Year, Single Family,
	2,127	4.250%, 03/20/45		2,297
	234	4.500%, 08/20/33		253
	2,122	6.000%, 09/20/38		2,383
	49	7.500%, 02/20/28 – 09/20/28		57
	74	8.000%, 12/20/25 – 09/20/28		88
	28	8.500%, 05/20/25		32
		Government National Mortgage Association II, Other,
	9,334	4.375%, 06/20/63		10,079
	9,723	4.433%, 05/20/63		10,513
	3,059	4.462%, 05/20/63		3,306
	2,057	4.479%, 04/20/63		2,224
	21	Government National Mortgage Association, 15 Year, Single Family, 6.500%, 06/15/17		21
		Government National Mortgage Association, 30 Year, Single Family,
	248	6.500%, 03/15/28 – 04/15/33		284
	151	7.000%, 02/15/33 – 06/15/33		180
	34	7.500%, 11/15/22 – 09/15/28		37
	9	8.000%, 09/15/22 – 08/15/28		9
	1	9.000%, 12/15/16		1
	313	9.500%, 10/15/24		343
		Total Mortgage Pass-Through Securities (Cost $665,248)		676,263
	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		571
	350	State of California, Various Purpose, GO, 7.300%, 10/01/39		496
				1,067
		Illinois — 0.0% (g)
	160	State of Illinois, Taxable Pension, GO, 5.100%, 06/01/33		152
		New York — 0.1%
	360	New York State Dormitory Authority, State Personal Income Tax, General Purpose, Series D, Rev., 5.600%, 03/15/40		439
	1,825	Port Authority of New York & New Jersey, Consolidated, Series 164, Rev., 5.647%, 11/01/40		2,163
	440	Series 165, Rev., 5.647%, 11/01/40		522

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Municipal Bonds — continued
		New York — continued
	2,060	Series 174, Rev., 4.458%, 10/01/62		1,998
				5,122
		Ohio — 0.1%
	1,315	American Municipal Power, Inc., Meldahl Hydroelectric Project, Series B, Rev., 7.499%, 02/15/50		1,769
		Ohio State University, General Receipts,
	200	Rev., 5.590%, 12/01/145		213
	1,563	Series A, Rev., 4.800%, 06/01/114		1,513
				3,495
		Total Municipal Bonds (Cost $9,023)		9,836
	Supranational — 0.1%
	3,000	African Development Bank, 8.800%, 09/01/19		3,679
	641	Corp. Andina de Fomento, 3.750%, 01/15/16		639
		Total Supranational (Cost $4,246)		4,318
	U.S. Government Agency Securities — 2.3%
	1,525	Federal Home Loan Bank, 5.500%, 07/15/36		2,002
	6,000	Federal National Mortgage Association, 3.981%, 06/01/17 (n)		5,921
		Financing Corp. STRIPS,
	4,500	1.583%, 05/11/18 (n)		4,354
	2,000	3.547%, 04/05/19 (n)		1,895
	1,240	4.792%, 09/26/19 (n)		1,157
		Government Trust Certificate,
	5,000	1.512%, 04/01/16 (n)		4,979
	13,319	2.634%, 10/01/19 (n)		12,144
		Residual Funding Corp. STRIPS,
	12,300	1.632%, 10/15/19 (n)		11,487
	30,450	2.176%, 07/15/20 (n)		27,834
	12,930	2.830%, 10/15/20 (n)		11,750
		Tennessee Valley Authority,
	304	4.625%, 09/15/60		321
	3,521	5.250%, 09/15/39		4,299
	1,115	5.880%, 04/01/36		1,446
		Tennessee Valley Authority STRIPS,
	5,000	4.255%, 11/01/25 (n)		3,666
	800	3.248%, 06/15/35 (n)		374
	2,000	4.131%, 05/01/19 (n)		1,910
		Total U.S. Government Agency Securities (Cost $94,624)		95,539
	U.S. Treasury Obligations — 25.3%
		U.S. Treasury Bonds,
	2,000	3.500%, 02/15/39		2,220
	700	4.250%, 05/15/39		867
	20,600	4.375%, 02/15/38		26,090
	14,370	4.375%, 11/15/39		18,125
	4,300	4.500%, 05/15/38		5,542
	1,875	4.500%, 08/15/39		2,408
	850	5.250%, 02/15/29		1,119
	1,250	5.375%, 02/15/31		1,703
	750	6.125%, 11/15/27		1,045
	300	6.125%, 08/15/29		428
	2,506	6.250%, 08/15/23		3,259
	900	6.250%, 05/15/30		1,311
	525	6.625%, 02/15/27		749
	4,690	7.500%, 11/15/16		4,991
	864	8.125%, 05/15/21		1,148
	1,845	8.500%, 02/15/20		2,368
	7,000	8.750%, 08/15/20		9,246
		U.S. Treasury Coupon STRIPS,
	8,000	1.567%, 11/15/19 (n)		7,511
	19,751	1.576%, 08/15/16 (n)		19,669
	23,265	1.886%, 05/15/21 (n)		20,944
	28,000	2.056%, 11/15/23 (n)		23,432
	22,570	2.088%, 08/15/23 (n)		19,037
	2,000	2.089%, 02/15/18 (n)		1,953
	2,200	2.228%, 02/15/24 (n)		1,827
	18,545	2.290%, 05/15/22 (n)		16,210
	17,095	2.335%, 02/15/21 (n)		15,496
	14,400	2.539%, 11/15/22 (n)		12,414
	1,000	2.561%, 02/15/25 (n)		803
	1,670	2.566%, 02/15/20 (n)		1,559
	15,768	2.584%, 02/15/22 (n)		13,889
	11,100	2.667%, 08/15/21 (n)		9,930
	1,500	2.671%, 05/15/25 (n)		1,195
	4,800	2.757%, 08/15/22 (n)		4,163
	15,400	2.775%, 05/15/23 (n)		13,087
	4,470	2.909%, 05/15/18 (n)		4,349
	9,575	2.947%, 02/15/32 (n)		6,033
	10,350	3.035%, 08/15/32 (n)		6,420
	38,935	3.058%, 08/15/20 (n)		35,857
	19,577	3.068%, 05/15/19 (n)		18,641
	38,462	3.104%, 02/15/23 (n)		32,951

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — continued
	5,000	3.136%, 05/15/31 (n)		3,242
	1,592	3.157%, 08/15/26 (n)		1,218
	9,980	3.184%, 11/15/21 (n)		8,857
	800	3.207%, 05/15/35 (n)		448
	6,650	3.212%, 11/15/29 (n)		4,544
	15,000	3.348%, 08/15/28 (n)		10,693
	54,504	3.356%, 05/15/20 (n)		50,456
	6,015	3.360%, 05/15/28 (n)		4,329
	18,050	3.367%, 05/15/32 (n)		11,288
	10,650	3.435%, 11/15/31 (n)		6,779
	27,150	3.456%, 11/15/26 (n)		20,581
	6,600	3.481%, 05/15/34 (n)		3,828
	1,650	3.500%, 08/15/34 (n)		948
	5,500	3.509%, 02/15/33 (n)		3,349
	6,305	3.636%, 02/15/29 (n)		4,418
	2,400	3.641%, 08/15/29 (n)		1,654
	9,700	3.656%, 08/15/31 (n)		6,239
	7,885	3.676%, 11/15/27 (n)		5,780
	29,300	3.684%, 02/15/27 (n)		22,013
	10,140	3.766%, 11/15/32 (n)		6,226
	8,000	3.923%, 02/15/31 (n)		5,244
	16,500	3.943%, 05/15/33 (n)		9,948
	22,360	3.974%, 08/15/19 (n)		21,149
	6,400	4.289%, 05/15/30 (n)		4,294
	16,741	4.393%, 08/15/18 (n)		16,222
	20,736	4.397%, 02/15/17 (n)		20,537
	600	4.479%, 02/15/26 (n)		467
	12,800	4.480%, 08/15/30 (n)		8,514
	600	4.509%, 08/15/24 (n)		490
	4,750	4.732%, 11/15/33 (n)		2,811
	9,925	4.811%, 11/15/30 (n)		6,546
	6,675	4.930%, 08/15/27 (n)		4,934
	8,860	4.932%, 02/15/28 (n)		6,435
	100	4.951%, 08/15/35 (n)		56
	1,200	5.088%, 02/15/35 (n)		678
	5,000	5.108%, 02/15/34 (n)		2,927
	23,600	5.172%, 02/15/30 (n)		15,948
	3,050	5.283%, 08/15/33 (n)		1,822
	1,700	5.287%, 11/15/24 (n)		1,378
	22,839	5.297%, 11/15/17 (n)		22,412
	1,500	5.850%, 05/15/26 (n)		1,157
	2,500	5.897%, 11/15/28 (n)		1,766
	2,550	5.936%, 05/15/27 (n)		1,901
	200	5.982%, 05/15/24 (n)		165
	39,501	6.800%, 02/15/16 (n)		39,486
	5,857	7.645%, 11/15/16 (n)		5,817
		U.S. Treasury Inflation Indexed Bonds,
	300	1.750%, 01/15/28		378
	300	2.500%, 01/15/29		400
	799	3.625%, 04/15/28		1,561
		U.S. Treasury Inflation Indexed Notes,
	2,453	0.125%, 01/15/22		2,518
	630	1.375%, 07/15/18		722
		U.S. Treasury Notes,
	14,257	0.625%, 09/30/17		14,186
	8,000	0.750%, 12/31/17		7,961
	3,560	0.875%, 01/31/18		3,549
	4,510	1.000%, 11/30/19		4,423
	31,250	1.250%, 10/31/18		31,285
	8,635	1.250%, 11/30/18		8,639
	1,500	1.250%, 02/29/20		1,481
	15,000	1.375%, 12/31/18		15,050
	2,000	1.375%, 02/28/19		2,003
	607	1.375%, 01/15/20		698
	7,400	1.500%, 08/31/18		7,466
	3,770	1.500%, 05/31/19		3,786
	8,000	1.500%, 01/31/22		7,809
	4,000	1.750%, 10/31/20		4,011
	2,000	1.750%, 05/15/22		1,975
	46,300	1.750%, 05/15/23		45,334
	1,100	2.000%, 10/31/21		1,108
	12,245	2.125%, 12/31/15		12,263
	1,000	2.125%, 01/31/21		1,019
	46,000	2.125%, 08/15/21		46,766
	2,000	2.125%, 12/31/21		2,027
	10,000	2.250%, 07/31/18		10,293
	2,000	2.375%, 08/15/24		2,031
	1,000	2.625%, 02/29/16		1,006
	4,575	2.625%, 04/30/16		4,617
	9,300	2.625%, 01/31/18		9,619
	700	2.625%, 08/15/20		731
	2,300	2.625%, 11/15/20		2,400
	2,000	2.750%, 12/31/17		2,073
	5,000	2.750%, 02/15/19		5,229
	9,000	3.125%, 10/31/16		9,198
	11,638	3.125%, 05/15/19		12,325
	7,250	3.125%, 05/15/21		7,748
	15,700	3.250%, 12/31/16		16,117
	2,600	3.500%, 02/15/18		2,739
	450	3.500%, 05/15/20		486

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — continued
	7,000	3.625%, 02/15/21		7,650
	1,000	U.S. Treasury Principal STRIPS, Zero Coupon, 05/15/16		998
		Total U.S. Treasury Obligations (Cost $1,033,213)		1,073,661
	Loan Assignments — 0.0% (g)
		Financials — 0.0% (g)
		Real Estate Management & Development — 0.0% (g)
		Tricon Capital Group Inc., Revolving Loan, (Canada),
	293	VAR, 0.500%, 06/12/17		292
	1,028	VAR, 3.250%, 06/12/17		1,023
		Total Loan Assignments (Cost $1,321)		1,315
SHARES
	Short-Term Investment — 3.1%
		Investment Company — 3.1%
	129,562	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.070% (b) (l) (Cost $129,562)		129,562
		Total Investments — 99.8% (Cost $4,121,925)		4,228,091
		Other Assets in Excess of Liabilities — 0.2%		9,322
		NET ASSETS — 100.0%	$	4,237,413

Percentages indicated are based on net assets.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

ACES	—	Alternative Credit Enhancement Securities
ARM	—	Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of November 30, 2015.
CMBS	—	Commercial Mortgage Backed Security
CMO	—	Collateralized Mortgage Obligation
CSMC	—	Credit Suisse Mortgage Trust
ESOP	—	Employee Stock Ownership Program
FHA	—	Federal Housing Administration
GMAC	—	General Motors Acceptance Corp.
GO	—	General Obligation
HB	—	High Coupon Bonds (a.k.a. “IOettes”) represent the right to receive interest payments on an underlying pool of mortgages with similar features as those associated with IO securities. Unlike IO’s the owner also has a right to receive a very small portion of principal. The high interest rates result from taking interest payments from other classes in the Real Estate Mortgage Investment Conduit trust and allocating them to the small principal of the HB class.
IF	—	Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index. The interest rate shown is the rate in effect as of November 30, 2015. The rate may be subject to a cap and floor.
IO	—	Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.
PO	—	Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases.
REMIC	—	Real Estate Mortgage Investment Conduit
Rev.	—	Revenue
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, 2015.
VA	—	Veterans Administration
VAR	—	Variable Rate Security. The interest rate shown is the rate in effect as of November 30, 2015.
(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.
(d)	—	Defaulted Security.
(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).
(l)	—	The rate shown is the current yield as of November 30, 2015.
(n)	—	The rate shown is the effective yield at the date of purchase.
(t)	—	The date shown represents the earliest of the prerefunded date, next put date or final maturity date.
1	—	Security matures in 2115.
2	—	Security matures in 2110.
3	—	Security matures in 2105.
4	—	Security matures in 2111.
5	—	Security matures in 2114.

As of November 30, 2015, 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	$	135,560
Aggregate gross unrealized depreciation		(29,394	)
Net unrealized appreciation/depreciation	$	106,166
Federal income tax cost of investments	$	4,121,925

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

A. Valuation of Investments — The valuation of the investments is in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund’s valuation policies set forth by and under the supervision and responsibility of the Board of Trustees (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at such unadjusted quoted prices and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

JPMorgan Funds Management, Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valua tion Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight, including but not limited to consideration of macro or security specific events, market events and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and at least on a quarterly basis with the AVC and the Board.

A market-based approach is primarily used to value the Fund’s investments. Investments for which market quotations are not readily available are fair valued by approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”) or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include 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. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used, had a ready market for the investments existed, and such differences could be material.

Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Investments in open-end investment companies (the “Underlying Funds”) are valued at each Underlying Fund’s net asset values per share as of the report date.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer related events after the report date and prior to issuance of the report are not reflected herein.

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

• Level 1 – Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 – Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 – Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s assumptions in determining the fair value of investments).

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

The following table represents each valuation input as presented on the Schedule of Portfolio Investments (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	$	—	$	288,908	$	173,543	$	462,451
Collateralized Mortgage Obligations
Agency CMO		—		568,706		—		568,706
Non-Agency CMO		—		156,356		29,853		186,209
Total Collateralized Mortgage Obligations		—		725,062		29,853		754,915
Commercial Mortgage-Backed Securities		—		120,894		17,365		138,259
Corporate Bonds
Consumer Discretionary		—		58,776		—		58,776
Consumer Staples		—		36,373		—		36,373
Energy		—		90,866		—		90,866
Financials		—		358,082		—		358,082
Health Care		—		41,412		—		41,412
Industrials		—		53,559		—		53,559
Information Technology		—		52,313		—		52,313
Materials		—		22,351		—		22,351
Telecommunication Services		—		51,014		—		51,014
Utilities		—		65,590		—		65,590
Total Corporate Bonds		—		830,336		—		830,336
Foreign Government Securities		—		51,636		—		51,636
Mortgage Pass-Through Securities		—		676,263		—		676,263
Municipal Bonds		—		9,836		—		9,836
Supranational		—		4,318		—		4,318
U.S. Government Agency Securities		—		95,539		—		95,539
U.S. Treasury Obligations		—		1,073,661		—		1,073,661
Loan Assignments
Financials		—		—		1,315		1,315
Short-Term Investment
Investment Company		129,562		—		—		129,562
Total Investments in Securities	$	129,562	$	3,876,453	$	222,076	$	4,228,091

There were no significant transfers between Levels 1 and 2 during the period ended November 30, 2015.

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

	Balance as of February 28, 2015		Realized gain (loss)		Change in unrealized appreciation (depreciation)			Net accretion (amortization)			Purchases1			Sales2			Transfers into Level 3		Transfers out of Level 3			Balance as of November 30, 2015
Investments in Securities
Asset-Backed Securities	$	138,469	$	—	$	233		$	(3	)	$	112,477		$	(52,440	)	$	—	$	(25,193	)	$	173,543
Collateralized Mortgage Obligations — Non-Agency CMO		45,619		198		(3,009	)		(133	)		—			(12,822	)		—		—			29,853
Commercial Mortgage-Backed Securities		18,375		—		(80	)		(1,180	)		2,936			(2,686	)		—		—			17,365
Corporate Bonds — Industrials		3,141		—		—			—			—			—			—		(3,141	)		—
Corporate Bonds — Telecommunication Services		1,772		—		(30	)		—			—			(1,742	)		—		—			—
Loan Assignments — Financials		10,515		—		94			—			(4,075	)		(5,219	)		—		—			1,315
Total	$	217,891	$	198	$	(2,792	)	$	(1,316	)	$	111,338		$	(74,909	)	$	—	$	(28,334	)	$	222,076

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

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

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

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

The changes in net unrealized appreciation (depreciation) attributable to securities owned at November 30, 2015, which were valued using significant unobservable inputs (Level 3) were approximately $(2,156,000).

Quantitative Information about Level 3 Fair Value Measurements # (Amounts in thousands)

	Fair Value at November 30, 2015		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
	$	106,161	Discounted Cash Flow	Constant Prepayment Rate	0.00% - 100.00% (2.25%)
				Constant Default Rate	0.00% - 50.00% (16.85%)
				Yield (Discount Rate of Cash Flows)	1.58% - 6.45% (4.07%)
Asset-Backed Securities		106,161
		22,660	Discounted Cash Flow	Constant Prepayment Rate	0.18% - 37.14% (9.31%)
				Constant Default Rate	0.00% - 7.91% (4.02%)
				PSA Prepayment Model	367.00% (367.00%)
				Yield (Discount Rate of Cash Flows)	0.45% - 39.08% (0.06%)
Collateralized Mortgage Obligations		22,660
		9,377	Discounted Cash Flow	Constant Prepayment Rate	0.00% - 100.00% (28.99%)
				Constant Default Rate	0.00% - 0.00% (0.00%)
				Yield (Discount Rate of Cash Flows)	(8.73%) -  5.18% (3.57%)
Commercial Mortgage-Backed Securities		9,377
Total	$	138,198

# The table above does not include Level 3 investments that are valued by brokers and pricing services. At November 30, 2015, the value of these investments was approximately $83,878,000. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A.

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, 2015 (Unaudited)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — 99.4%
	Consumer Discretionary — 13.0%
		Auto Components — 0.4%
	4	BorgWarner, Inc.		157
	5	Delphi Automotive plc, (United Kingdom)		407
	4	Goodyear Tire & Rubber Co. (The)		153
	11	Johnson Controls, Inc.		489
				1,206
		Automobiles — 0.6%
	63	Ford Motor Co.		908
	23	General Motors Co.		849
	3	Harley-Davidson, Inc.		153
				1,910
		Distributors — 0.1%
	2	Genuine Parts Co.		223
		Diversified Consumer Services — 0.1%
	4	H&R Block, Inc.		138
		Hotels, Restaurants & Leisure — 1.8%
	8	Carnival Corp.		381
	1	Chipotle Mexican Grill, Inc. (a)		294
	2	Darden Restaurants, Inc.		104
	3	Marriott International, Inc., Class A		230
	15	McDonald’s Corp.		1,749
	3	Royal Caribbean Cruises Ltd.		258
	24	Starbucks Corp.		1,482
	3	Starwood Hotels & Resorts Worldwide, Inc.		199
	2	Wyndham Worldwide Corp.		146
	1	Wynn Resorts Ltd.		83
	7	Yum! Brands, Inc.		509
				5,435
		Household Durables — 0.4%
	5	D.R. Horton, Inc.		172
	2	Garmin Ltd., (Switzerland)		73
	1	Harman International Industries, Inc.		119
	2	Leggett & Platt, Inc.		104
	3	Lennar Corp., Class A		145
	1	Mohawk Industries, Inc. (a)		197
	4	Newell Rubbermaid, Inc.		194
	5	PulteGroup, Inc.		102
	1	Whirlpool Corp.		207
				1,313
		Internet & Catalog Retail — 2.1%
	6	Amazon.com, Inc. (a)		4,148
	2	Expedia, Inc.		200
	7	Netflix, Inc. (a)		855
	1	Priceline Group, Inc. (The) (a)		1,030
	2	TripAdvisor, Inc. (a)		151
				6,384
		Leisure Products — 0.1%
	2	Hasbro, Inc.		134
	6	Mattel, Inc.		137
				271
		Media — 3.2%
	4	Cablevision Systems Corp., Class A		110
	7	CBS Corp. (Non-Voting), Class B		365
	40	Comcast Corp., Class A		2,439
	2	Discovery Communications, Inc., Class A (a)		76
	4	Discovery Communications, Inc., Class C (a)		124
	7	Interpublic Group of Cos., Inc. (The)		154
	6	News Corp., Class A		89
	2	News Corp., Class B		25
	4	Omnicom Group, Inc.		292
	2	Scripps Networks Interactive, Inc., Class A		87
	4	TEGNA, Inc.		104
	5	Time Warner Cable, Inc.		851
	13	Time Warner, Inc.		929
	20	Twenty-First Century Fox, Inc., Class A		586
	7	Twenty-First Century Fox, Inc., Class B		210
	6	Viacom, Inc., Class B		281
	25	Walt Disney Co. (The)		2,867
				9,589
		Multiline Retail — 0.6%
	5	Dollar General Corp.		313
	4	Dollar Tree, Inc. (a)		288
	3	Kohl’s Corp.		152
	5	Macy’s, Inc.		200
	2	Nordstrom, Inc.		128
	10	Target Corp.		741
				1,822
		Specialty Retail — 2.6%
	1	Advance Auto Parts, Inc.		194

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — continued
	Specialty Retail — continued
	1	AutoNation, Inc. (a)		81
	1	AutoZone, Inc. (a)		393
	3	Bed Bath & Beyond, Inc. (a)		150
	5	Best Buy Co., Inc.		159
	3	CarMax, Inc. (a)		194
	2	GameStop Corp., Class A		61
	4	Gap, Inc. (The)		103
	21	Home Depot, Inc. (The)		2,797
	4	L Brands, Inc.		399
	15	Lowe’s Cos., Inc.		1,153
	2	O’Reilly Automotive, Inc. (a)		427
	7	Ross Stores, Inc.		350
	1	Signet Jewelers Ltd.		170
	10	Staples, Inc.		126
	2	Tiffany & Co.		145
	11	TJX Cos., Inc. (The)		775
	2	Tractor Supply Co.		198
	2	Urban Outfitters, Inc. (a)		35
				7,910
		Textiles, Apparel & Luxury Goods — 1.0%
	5	Coach, Inc.		143
	1	Fossil Group, Inc. (a)		26
	7	Hanesbrands, Inc.		201
	3	Michael Kors Holdings Ltd., (United Kingdom) (a)		135
	11	NIKE, Inc., Class B		1,459
	1	PVH Corp.		123
	1	Ralph Lauren Corp.		121
	3	Under Armour, Inc., Class A (a)		252
	6	V.F. Corp.		358
				2,818
		Total Consumer Discretionary		39,019
	Consumer Staples — 9.5%
		Beverages — 2.3%
	2	Brown-Forman Corp., Class B		177
	64	Coca-Cola Co. (The)		2,714
	3	Coca-Cola Enterprises, Inc.		172
	3	Constellation Brands, Inc., Class A		392
	3	Dr. Pepper Snapple Group, Inc.		279
	3	Molson Coors Brewing Co., Class B		237
	2	Monster Beverage Corp. (a)		383
	24	PepsiCo, Inc.		2,394
				6,748
		Food & Staples Retailing — 2.2%
	7	Costco Wholesale Corp.		1,154
	18	CVS Health Corp.		1,706
	16	Kroger Co. (The)		595
	9	Sysco Corp.		351
	14	Walgreens Boots Alliance, Inc.		1,195
	26	Wal-Mart Stores, Inc.		1,510
	6	Whole Foods Market, Inc.		170
				6,681
		Food Products — 1.6%
	10	Archer-Daniels-Midland Co.		361
	3	Campbell Soup Co.		153
	7	ConAgra Foods, Inc.		288
	10	General Mills, Inc.		563
	2	Hershey Co. (The)		205
	2	Hormel Foods Corp.		164
	2	J.M. Smucker Co. (The)		236
	4	Kellogg Co.		285
	2	Keurig Green Mountain, Inc.		102
	10	Kraft Heinz Co. (The)		712
	2	McCormick & Co., Inc. (Non-Voting)		162
	3	Mead Johnson Nutrition Co.		266
	26	Mondelez International, Inc., Class A		1,144
	5	Tyson Foods, Inc., Class A		248
				4,889
		Household Products — 1.7%
	2	Clorox Co. (The)		260
	15	Colgate-Palmolive Co.		962
	6	Kimberly-Clark Corp.		706
	44	Procter & Gamble Co. (The)		3,303
				5,231
		Personal Products — 0.1%
	4	Estee Lauder Cos., Inc. (The), Class A		309
		Tobacco — 1.6%
	32	Altria Group, Inc.		1,837
	25	Philip Morris International, Inc.		2,202
	13	Reynolds American, Inc.		624
				4,663
		Total Consumer Staples		28,521
	Energy — 7.0%
		Energy Equipment & Services — 1.1%
	7	Baker Hughes, Inc.		383

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — continued
		Energy Equipment & Services — continued
	3	Cameron International Corp. (a)		213
	1	Diamond Offshore Drilling, Inc.		24
	4	Ensco plc, (United Kingdom), Class A		66
	4	FMC Technologies, Inc. (a)		127
	14	Halliburton Co.		554
	2	Helmerich & Payne, Inc.		102
	6	National Oilwell Varco, Inc.		233
	21	Schlumberger Ltd.		1,588
	6	Transocean Ltd., (Switzerland)		80
				3,370
		Oil, Gas & Consumable Fuels — 5.9%
	8	Anadarko Petroleum Corp.		495
	6	Apache Corp.		302
	7	Cabot Oil & Gas Corp.		127
	8	Chesapeake Energy Corp.		44
	31	Chevron Corp.		2,796
	2	Cimarex Energy Co.		183
	5	Columbia Pipeline Group, Inc.		99
	20	ConocoPhillips		1,085
	4	CONSOL Energy, Inc.		29
	6	Devon Energy Corp.		289
	9	EOG Resources, Inc.		745
	2	EQT Corp.		142
	68	Exxon Mobil Corp.		5,539
	4	Hess Corp.		232
	29	Kinder Morgan, Inc.		689
	11	Marathon Oil Corp.		193
	9	Marathon Petroleum Corp.		509
	3	Murphy Oil Corp.		76
	3	Newfield Exploration Co. (a)		101
	7	Noble Energy, Inc.		254
	12	Occidental Petroleum Corp.		939
	3	ONEOK, Inc.		100
	8	Phillips 66		713
	2	Pioneer Natural Resources Co.		352
	3	Range Resources Corp.		79
	6	Southwestern Energy Co. (a)		56
	11	Spectra Energy Corp.		286
	2	Tesoro Corp.		231
	8	Valero Energy Corp.		581
	11	Williams Cos., Inc. (The)		406
				17,672
		Total Energy		21,042
	Financials — 16.5%
		Banks — 6.0%
	170	Bank of America Corp.		2,968
	13	BB&T Corp.		490
	49	Citigroup, Inc.		2,649
	3	Comerica, Inc.		134
	13	Fifth Third Bancorp		270
	13	Huntington Bancshares, Inc.		153
	60	JPMorgan Chase & Co. (q)		4,012
	14	KeyCorp		179
	3	M&T Bank Corp.		326
	5	People’s United Financial, Inc.		84
	8	PNC Financial Services Group, Inc. (The)		798
	22	Regions Financial Corp.		219
	8	SunTrust Banks, Inc.		366
	27	U.S. Bancorp		1,182
	76	Wells Fargo & Co.		4,187
	3	Zions Bancorp		99
				18,116
		Capital Markets — 2.2%
	1	Affiliated Managers Group, Inc. (a)		157
	3	Ameriprise Financial, Inc.		327
	18	Bank of New York Mellon Corp. (The)		789
	2	BlackRock, Inc.		758
	19	Charles Schwab Corp. (The)		657
	5	E*TRADE Financial Corp. (a)		144
	6	Franklin Resources, Inc.		264
	7	Goldman Sachs Group, Inc. (The)		1,244
	7	Invesco Ltd.		235
	2	Legg Mason, Inc.		79
	25	Morgan Stanley		850
	4	Northern Trust Corp.		267
	7	State Street Corp.		482
	4	T. Rowe Price Group, Inc.		317
				6,570
		Consumer Finance — 0.9%
	14	American Express Co.		992
	9	Capital One Financial Corp.		693
	7	Discover Financial Services		402
	6	Navient Corp.		72
	14	Synchrony Financial (a)		432
				2,591

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES			SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — continued
			Diversified Financial Services — 2.0%
	30		Berkshire Hathaway, Inc., Class B (a)		4,087
	5		CME Group, Inc.		536
	2		Intercontinental Exchange, Inc.		467
	5		Leucadia National Corp.		97
	4		McGraw Hill Financial, Inc.		428
	3		Moody’s Corp.		292
	2		Nasdaq, Inc.		113
					6,020
			Insurance — 2.7%
	5		ACE Ltd., (Switzerland)		605
	7		Aflac, Inc.		457
	7		Allstate Corp. (The)		409
	21		American International Group, Inc.		1,338
	5		Aon plc, (United Kingdom)		432
	1		Assurant, Inc.		93
	4		Chubb Corp. (The)		482
	2		Cincinnati Financial Corp.		147
	7		Hartford Financial Services Group, Inc. (The)		308
	4		Lincoln National Corp.		224
	5		Loews Corp.		177
	9		Marsh & McLennan Cos., Inc.		477
	18		MetLife, Inc.		928
	4		Principal Financial Group, Inc.		229
	10		Progressive Corp. (The)		294
	7		Prudential Financial, Inc.		635
	2		Torchmark Corp.		115
	5		Travelers Cos., Inc. (The)		580
	4		Unum Group		147
	5		XL Group plc, (Ireland)		188
					8,265
			Real Estate Investment Trusts (REITs) — 2.6%
	7		American Tower Corp.		684
	3		Apartment Investment & Management Co., Class A		97
	2		AvalonBay Communities, Inc.		393
	2		Boston Properties, Inc.		312
	5		Crown Castle International Corp.		467
	1		Equinix, Inc.		282
	6		Equity Residential		473
	1		Essex Property Trust, Inc.		247
	–	(h)	Four Corners Property Trust, Inc. (a)		—	(h)
	10		General Growth Properties, Inc.		242
	8		HCP, Inc.		267
	12		Host Hotels & Resorts, Inc.		203
	3		Iron Mountain, Inc.		87
	7		Kimco Realty Corp.		175
	2		Macerich Co. (The)		171
	3		Plum Creek Timber Co., Inc.		144
	9		Prologis, Inc.		365
	2		Public Storage		574
	4		Realty Income Corp.		205
	5		Simon Property Group, Inc.		938
	2		SL Green Realty Corp.		191
	5		Ventas, Inc.		289
	3		Vornado Realty Trust		279
	6		Welltower, Inc.		362
	8		Weyerhaeuser Co.		269
					7,716
			Real Estate Management & Development — 0.1%
	5		CBRE Group, Inc., Class A (a)		177
			Total Financials		49,455
	Health Care — 14.5%
			Biotechnology — 3.0%
	4		Alexion Pharmaceuticals, Inc. (a)		656
	12		Amgen, Inc.		1,987
	9		Baxalta, Inc.		303
	4		Biogen, Inc. (a)		1,040
	13		Celgene Corp. (a)		1,408
	24		Gilead Sciences, Inc.		2,530
	1		Regeneron Pharmaceuticals, Inc. (a)		685
	4		Vertex Pharmaceuticals, Inc. (a)		515
					9,124
			Health Care Equipment & Supplies — 2.1%
	24		Abbott Laboratories		1,089
	9		Baxter International, Inc.		334
	3		Becton, Dickinson and Co.		514
	22		Boston Scientific Corp. (a)		400
	1		C.R. Bard, Inc.		226
	2		DENTSPLY International, Inc.		138
	2		Edwards Lifesciences Corp. (a)		285
	1		Intuitive Surgical, Inc. (a)		313
	23		Medtronic plc, (Ireland)		1,733
	5		St. Jude Medical, Inc.		289
	5		Stryker Corp.		496

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — continued
		Health Care Equipment & Supplies — continued
	2	Varian Medical Systems, Inc. (a)		130
	3	Zimmer Biomet Holdings, Inc.		281
				6,228
		Health Care Providers & Services — 2.6%
	6	Aetna, Inc.		583
	3	AmerisourceBergen Corp.		330
	4	Anthem, Inc.		555
	5	Cardinal Health, Inc.		463
	4	Cigna Corp.		565
	3	DaVita HealthCare Partners, Inc. (a)		202
	11	Express Scripts Holding Co. (a)		940
	5	HCA Holdings, Inc. (a)		354
	1	Henry Schein, Inc. (a)		212
	2	Humana, Inc.		406
	2	Laboratory Corp. of America Holdings (a)		199
	4	McKesson Corp.		716
	1	Patterson Cos., Inc.		64
	2	Quest Diagnostics, Inc.		160
	2	Tenet Healthcare Corp. (a)		54
	16	UnitedHealth Group, Inc.		1,748
	1	Universal Health Services, Inc., Class B		181
				7,732
		Health Care Technology — 0.1%
	5	Cerner Corp. (a)		298
				—
		Life Sciences Tools & Services — 0.6%
	5	Agilent Technologies, Inc.		225
	2	Illumina, Inc. (a)		434
	2	PerkinElmer, Inc.		98
	6	Thermo Fisher Scientific, Inc.		897
	1	Waters Corp. (a)		178
				1,832
		Pharmaceuticals — 6.1%
	27	AbbVie, Inc.		1,566
	6	Allergan plc (a)		2,010
	27	Bristol-Myers Squibb Co.		1,818
	16	Eli Lilly & Co.		1,302
	3	Endo International plc, (Ireland) (a)		208
	45	Johnson & Johnson		4,561
	2	Mallinckrodt plc (a)		130
	46	Merck & Co., Inc.		2,429
	7	Mylan N.V. (a)		344
	2	Perrigo Co. plc, (Ireland)		355
	100	Pfizer, Inc.		3,288
	7	Zoetis, Inc.		349
				18,360
		Total Health Care		43,574
	Industrials — 10.1%
		Aerospace & Defense — 2.7%
	10	Boeing Co. (The)		1,511
	5	General Dynamics Corp.		723
	13	Honeywell International, Inc.		1,322
	1	L-3 Communications Holdings, Inc.		160
	4	Lockheed Martin Corp.		952
	3	Northrop Grumman Corp.		568
	2	Precision Castparts Corp.		518
	5	Raytheon Co.		613
	2	Rockwell Collins, Inc.		199
	4	Textron, Inc.		192
	13	United Technologies Corp.		1,294
				8,052
		Air Freight & Logistics — 0.7%
	2	C.H. Robinson Worldwide, Inc.		156
	3	Expeditors International of Washington, Inc.		149
	4	FedEx Corp.		677
	11	United Parcel Service, Inc., Class B		1,171
				2,153
		Airlines — 0.6%
	10	American Airlines Group, Inc.		423
	13	Delta Air Lines, Inc.		601
	11	Southwest Airlines Co.		492
	6	United Continental Holdings, Inc. (a)		343
				1,859
		Building Products — 0.1%
	2	Allegion plc, (Ireland)		105
	6	Masco Corp.		167
				272
		Commercial Services & Supplies — 0.4%
	3	ADT Corp. (The)		98
	1	Cintas Corp.		133
	3	Pitney Bowes, Inc.		71
	4	Republic Services, Inc.		172

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — continued
		Commercial Services & Supplies — continued
	1	Stericycle, Inc. (a)		167
	7	Tyco International plc		242
	7	Waste Management, Inc.		368
				1,251
		Construction & Engineering — 0.1%
	2	Fluor Corp.		115
	2	Jacobs Engineering Group, Inc. (a)		89
	3	Quanta Services, Inc. (a)		58
				262
		Electrical Equipment — 0.5%
	4	AMETEK, Inc.		222
	8	Eaton Corp. plc		442
	11	Emerson Electric Co.		535
	2	Rockwell Automation, Inc.		232
				1,431
		Industrial Conglomerates — 2.5%
	10	3M Co.		1,592
	10	Danaher Corp.		932
	153	General Electric Co.		4,585
	2	Roper Technologies, Inc.		317
				7,426
		Machinery — 1.2%
	10	Caterpillar, Inc.		712
	3	Cummins, Inc.		271
	5	Deere & Co.		404
	3	Dover Corp.		168
	2	Flowserve Corp.		100
	5	Illinois Tool Works, Inc.		504
	4	Ingersoll-Rand plc		253
	6	PACCAR, Inc.		300
	2	Parker-Hannifin Corp.		236
	3	Pentair plc, (United Kingdom)		166
	1	Snap-on, Inc.		163
	2	Stanley Black & Decker, Inc.		272
	3	Xylem, Inc.		110
				3,659
		Professional Services — 0.3%
	1	Dun & Bradstreet Corp. (The)		63
	2	Equifax, Inc.		215
	6	Nielsen Holdings plc		279
	2	Robert Half International, Inc.		112
	3	Verisk Analytics, Inc. (a)		189
				858
		Road & Rail — 0.8%
	16	CSX Corp.		455
	1	J.B. Hunt Transport Services, Inc.		117
	2	Kansas City Southern		163
	5	Norfolk Southern Corp.		466
	1	Ryder System, Inc.		57
	14	Union Pacific Corp.		1,185
				2,443
		Trading Companies & Distributors — 0.2%
	5	Fastenal Co.		192
	2	United Rentals, Inc. (a)		122
	1	W.W. Grainger, Inc.		198
				512
		Total Industrials		30,178
	Information Technology — 20.8%
		Communications Equipment — 1.4%
	83	Cisco Systems, Inc.		2,255
	1	F5 Networks, Inc. (a)		119
	2	Harris Corp.		168
	6	Juniper Networks, Inc.		173
	3	Motorola Solutions, Inc.		188
	26	QUALCOMM, Inc.		1,247
				4,150
		Electronic Equipment, Instruments & Components — 0.4%
	5	Amphenol Corp., Class A		277
	20	Corning, Inc.		373
	2	FLIR Systems, Inc.		70
	7	TE Connectivity Ltd., (Switzerland)		439
				1,159
		Internet Software & Services — 4.1%
	3	Akamai Technologies, Inc. (a)		167
	5	Alphabet, Inc., Class A (a)		3,598
	5	Alphabet, Inc., Class C (a)		3,574
	18	eBay, Inc. (a)		540
	37	Facebook, Inc., Class A (a)		3,832
	2	VeriSign, Inc. (a)		145
	14	Yahoo!, Inc. (a)		476
				12,332
		IT Services — 3.7%
	10	Accenture plc, (Ireland), Class A		1,089
	1	Alliance Data Systems Corp. (a)		286
	8	Automatic Data Processing, Inc.		654

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — continued
		IT Services — continued
	10	Cognizant Technology Solutions Corp., Class A (a)		640
	2	CSRA, Inc. (a)		71
	5	Fidelity National Information Services, Inc.		292
	4	Fiserv, Inc. (a)		367
	15	International Business Machines Corp.		2,044
	16	MasterCard, Inc., Class A		1,590
	5	Paychex, Inc.		284
	18	PayPal Holdings, Inc. (a)		636
	2	Teradata Corp. (a)		69
	3	Total System Services, Inc.		154
	32	Visa, Inc., Class A		2,508
	8	Western Union Co. (The)		157
	16	Xerox Corp.		172
				11,013
		Semiconductors & Semiconductor Equipment — 2.5%
	5	Altera Corp.		260
	5	Analog Devices, Inc.		315
	20	Applied Materials, Inc.		367
	4	Avago Technologies Ltd., (Singapore)		551
	9	Broadcom Corp., Class A		497
	1	First Solar, Inc. (a)		70
	77	Intel Corp.		2,689
	3	KLA-Tencor Corp.		170
	3	Lam Research Corp.		201
	4	Linear Technology Corp.		178
	3	Microchip Technology, Inc.		166
	18	Micron Technology, Inc. (a)		279
	8	NVIDIA Corp.		264
	2	Qorvo, Inc. (a)		141
	3	Skyworks Solutions, Inc.		258
	17	Texas Instruments, Inc.		970
	4	Xilinx, Inc.		209
				7,585
		Software — 4.3%
	8	Activision Blizzard, Inc.		308
	8	Adobe Systems, Inc. (a)		740
	4	Autodesk, Inc. (a)		234
	5	CA, Inc.		143
	3	Citrix Systems, Inc. (a)		200
	5	Electronic Arts, Inc. (a)		344
	5	Intuit, Inc.		452
	130	Microsoft Corp.		7,072
	53	Oracle Corp.		2,062
	3	Red Hat, Inc. (a)		243
	10	salesforce.com, Inc. (a)		804
	11	Symantec Corp.		218
				12,820
		Technology Hardware, Storage & Peripherals — 4.4%
	93	Apple, Inc.		10,975
	31	EMC Corp.		793
	29	Hewlett Packard Enterprise Co.		437
	29	HP, Inc.		368
	5	NetApp, Inc.		150
	3	SanDisk Corp.		246
	5	Seagate Technology plc		177
	4	Western Digital Corp.		234
				13,380
		Total Information Technology		62,439
	Materials — 2.8%
		Chemicals — 2.2%
	3	Air Products & Chemicals, Inc.		431
	1	Airgas, Inc.		151
	4	CF Industries Holdings, Inc.		175
	19	Dow Chemical Co. (The)		982
	15	E.I. du Pont de Nemours & Co.		991
	2	Eastman Chemical Co.		176
	4	Ecolab, Inc.		515
	2	FMC Corp.		93
	1	International Flavors & Fragrances, Inc.		157
	6	LyondellBasell Industries N.V., Class A		581
	7	Monsanto Co.		681
	5	Mosaic Co. (The)		174
	4	PPG Industries, Inc.		466
	5	Praxair, Inc.		526
	1	Sherwin-Williams Co. (The)		356
				6,455
		Construction Materials — 0.1%
	1	Martin Marietta Materials, Inc.		172
	2	Vulcan Materials Co.		222
				394

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 31, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE ($)
	Common Stocks — continued
		Containers & Packaging — 0.2%
	1	Avery Dennison Corp.		98
	2	Ball Corp.		156
	3	Owens-Illinois, Inc. (a)		50
	3	Sealed Air Corp.		152
	4	WestRock Co.		216
				672
		Metals & Mining — 0.2%
	21	Alcoa, Inc.		199
	18	Freeport-McMoRan, Inc.		151
	9	Newmont Mining Corp.		159
	5	Nucor Corp.		216
				725
		Paper & Forest Products — 0.1%
	7	International Paper Co.		284
		Total Materials		8,530
	Telecommunication Services — 2.3%
		Diversified Telecommunication Services — 2.3%
	100	AT&T, Inc.		3,369
	9	CenturyLink, Inc.		247
	19	Frontier Communications Corp.		95
	5	Level 3 Communications, Inc. (a)		238
	66	Verizon Communications, Inc.		3,006
		Total Telecommunication Services		6,955
	Utilities — 2.9%
		Electric Utilities — 1.6%
	8	American Electric Power Co., Inc.		447
	11	Duke Energy Corp.		759
	5	Edison International		315
	3	Entergy Corp.		195
	5	Eversource Energy		263
	15	Exelon Corp.		408
	7	FirstEnergy Corp.		216
	7	NextEra Energy, Inc.		748
	4	Pepco Holdings, Inc.		106
	2	Pinnacle West Capital Corp.		114
	11	PPL Corp.		371
	15	Southern Co. (The)		658
	8	Xcel Energy, Inc.		294
				4,894
		Gas Utilities — 0.1%
	2	AGL Resources, Inc.		122
		Independent Power & Renewable Electricity Producers — 0.1%
	11	AES Corp.		111
	5	NRG Energy, Inc.		66
				177
		Multi-Utilities — 1.1%
	4	Ameren Corp.		173
	7	CenterPoint Energy, Inc.		119
	5	CMS Energy Corp.		158
	5	Consolidated Edison, Inc.		296
	10	Dominion Resources, Inc.		651
	3	DTE Energy Co.		235
	5	NiSource, Inc.		99
	8	PG&E Corp.		420
	8	Public Service Enterprise Group, Inc.		322
	2	SCANA Corp.		137
	4	Sempra Energy		380
	4	TECO Energy, Inc.		101
	5	WEC Energy Group, Inc.		253
				3,344
		Total Utilities		8,537
		Total Common Stocks (Cost $139,705)		298,250
	Exchange Traded Fund — 0.0% (g)
		U.S. Equity — 0.0% (g)
	1	SPDR S&P 500 ETF Trust (Cost $85)		104
NUMBER OF RIGHTS
	Rights — 0.0% (g)
	Consumer Staples — 0.0% (g)
		Food & Staples Retailing — 0.0% (g)
	5	Safeway, Inc., Casa Ley CVR, expiring 01/30/18 (a)		1
	5	Safeway, Inc., PDC CVR, expiring 01/30/17 (a)		—	(h)
		Total Rights (Cost $–)		1

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT ($)		SECURITY DESCRIPTION	VALUE ($)
	Short-Term Investments — 0.4%
	U.S. Treasury Obligation — 0.1%
	240	U.S. Treasury Bill, 0.105%, 02/11/16 (k) (n)		240
SHARES
		Investment Company — 0.3%
	837	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.070% (b) (l)		837
		Total Short-Term Investments (Cost $1,077)		1,077
		Total Investments — 99.8% (Cost $140,867)		299,432
		Other Assets in Excess of Liabilities — 0.2%		673
		NET ASSETS — 100.0%	$	300,105

Percentages indicated are based on net assets.

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands, except number of Futures contracts)

Futures Contracts
NUMBER OF CONTRACTS		DESCRIPTION	EXPIRATION DATE		TRADING CURRENCY		NOTIONAL VALUE  AT NOVEMBER 30, 2015		NET UNREALIZED APPRECIATION (DEPRECIATION)
		Long Futures Outstanding
	11	E-mini S&P 500		12/18/15		USD	$	1,144	$	78

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

CVR	—	Contingent Value Rights
ETF	—	Exchange Traded Fund
REIT	—	Real Estate Investment Trust
SPDR	—	Standard & Poor’s Depositary Receipts
USD	—	United States Dollar
(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, 2015.
(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, 2015, 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	$	162,006
Aggregate gross unrealized depreciation		(3,441	)
Net unrealized appreciation/depreciation	$	158,565
Federal income tax cost of investments	$	140,867

A. Valuation of Investments - The valuation of the investments is in accordance with U.S. generally accepted accounting principles (‘GAAP”) and the Portfolio’s valuation policies set forth by and under the supervision and responsibility of the Board of Trustees (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at such unadjusted quoted prices and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

JPMorgan Funds Management, Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Portfolio’s investments. The Administrator implements the valuation policies of the Portfolio’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Portfolio. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight, including but not limited to consideration of macro or security specific events, market events and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and at least on a quarterly basis with the AVC and the Board.

A market-based approach is primarily used to value the Portfolio’s investments. Investments for which market quotations are not readily available are fair valued by approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”) or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include 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. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used, had a ready market for the investments existed, and such differences could be material.

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values (“NAV”) of the Portfolio are calculated on a valuation date. Investments in open-end investment companies excluding exchange traded funds (“ETFs”) (the “Underlying Funds”), are valued at each Underlying Fund’s NAV per share as of the report date.

Futures are generally valued on the basis of available market quotations.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer related events after the report date and prior to issuance of the report are not reflected herein.

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

• Level 1 – Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 – Other significant observable inputs including, but are not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 – Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s assumptions in determining the fair value of investments).

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

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

	Level 1 Quoted  prices		Level 2 Other  significant observable inputs		Level 3 Significant  unobservable inputs		Total
Investments in Securities
Common Stocks
Consumer Discretionary	$	39,019	$	–	$	–	$	39,019
Consumer Staples		28,521		–		–		28,521
Energy		21,042		–		–		21,042
Financials		49,455		–		–		49,455
Health Care		43,574		–		–		43,574
Industrials		30,178		–		–		30,178
Information Technology		62,439		–		–		62,439
Materials		8,530		–		–		8,530
Telecommunication Services		6,955		–		–		6,955
Utilities		8,537		–		–		8,537
Total Common Stocks		298,250		–		–		298,250
Exchange Traded Fund		104		–		–		104
Rights
Consumer Staples		–		–		1		1
Short-Term Investment
U.S. Treasury Obligations		–		240		–		240
Investment Company		837		–		–		837
Total Short-Term Investment		837		240		–		1,077
Total Investments in Securities	$	299,191	$	240	$	1	$	299,432
Appreciation in Other Financial Instruments
Futures Contracts	$	78	$	–	$	–	$	78

There were no transfers between Levels 1 and 2 during the period ended November 30, 2015.

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

B. Derivatives — The Fund used instruments including futures in connection with its investment strategies. Derivative instruments may be used as substitutes for securities in which the Fund can invest, to hedge portfolio investments or to generate income or gain to the Fund. Derivatives may also be used to manage duration, sector and yield curve exposures and credit and spread volatility.

The Fund may be subject to various risks from the use of derivatives including the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties’ failure to perform under contract terms; liquidity risk related to the lack of a liquid market for these contracts allowing a Fund to close out its position(s); and, documentation risk relating to disagreement over contract terms. Investing in certain derivatives also results in a form of leverage and as such, the Fund’s risk of loss associated with these instruments may exceed their value.

The Fund is party to various derivative contracts governed by International Swaps and Derivatives Association master agreements (“ISDA agreements”). The Fund’s ISDA agreements, which are separately negotiated with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not otherwise waived, against the Fund in the event the Fund’s net assets decline over time by a pre-determined percentage or fall below a pre-determined floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Fund to exercise rights, to the extent not otherwise waived, against the counterparty (i.e., decline in a counterparty’s credit rating below a specified level). Such rights for both the counterparty and Fund often include the ability to terminate (i.e., close out) open contracts at prices which may favor the counterparty, which could have an adverse effect on the Fund. The ISDA agreements give the Fund and counterparty the right, upon an event of default, to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such net payable or receivable with collateral posted to a segregated account by one party to the other.

Counterparty credit risk may be mitigated to the extent a counterparty posts collateral for mark to market gains to the Fund.

Note (1) below describe the various derivatives used by the Fund.

(1). Futures Contracts — The Fund used index futures contracts to manage and hedge interest rate risk associated with portfolio investments and to gain or reduce exposure to positive and negative price fluctuation or a particular countries or regions. The Fund also used futures contracts to lengthen or shorten the duration of the overall investment portfolio.

Futures contracts provide for the delayed delivery of the underlying instrument at a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future. Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to a certain percentage of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or received by the Fund periodically and are based on changes in the market value of open futures contracts. Changes in market value on open future contracts are recorded as changes in unrealized appreciation or depreciation.

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

The Fund’s futures contracts are not subject to master netting arrangements (the right to close out all transactions traded with a counterparty and net amounts owed or due across transactions).

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — 12.5%
	105		Academic Loan Funding Trust, Series 2012-1A, Class A1, VAR, 1.021%, 12/27/22 (e)		105
			Ally Auto Receivables Trust,
	199		Series 2013-2, Class A3, 0.790%, 01/15/18		199
	120		Series 2013-2, Class A4, 1.240%, 11/15/18		120
	198		Series 2014-SN2, Class A3, 1.030%, 09/20/17		198
	604		Series 2015-SN1, Class A2A, 0.930%, 06/20/17		603
	305		Series 2015-SN1, Class A3, 1.210%, 12/20/17		304
			American Credit Acceptance Receivables Trust,
	62		Series 2014-4, Class A, 1.330%, 07/10/18 (e)		62
	129		Series 2015-1, Class A, 1.430%, 08/12/19 (e)		128
	257		Series 2015-2, Class A, 1.570%, 06/12/19 (e)		257
	245		Series 2015-2, Class C, 4.320%, 05/12/21 (e)		241
	990		American Homes 4 Rent, Series 2015-SFR1, Class A, 3.467%, 04/17/52 (e)		979
			AmeriCredit Automobile Receivables Trust,
	–	(h)	Series 2013-1, Class A3, 0.610%, 10/10/17		—	(h)
	107		Series 2013-5, Class A3, 0.900%, 09/10/18		107
	218		Series 2015-2, Class A2A, 0.830%, 09/10/18		217
	650		Series 2015-2, Class A3, 1.270%, 01/08/20		645
	150		Series 2015-4, Class A3, 1.700%, 07/08/20		150
	368		ARLP Securitization Trust, Series 2015-1, Class A1, SUB, 3.967%, 05/25/55 (e)		361
	60		AXIS Equipment Finance Receivables II LLC, Series 2013-1A, Class A, 1.750%, 03/20/17 (e)		60
	186		AXIS Equipment Finance Receivables III LLC, Series 2015-1A, Class A2, 1.900%, 03/20/20 (e)		186
			B2R Mortgage Trust,
	132		Series 2015-1, Class A1, 2.524%, 05/15/48 (e)		131
	253		Series 2015-2, Class A, 3.336%, 11/15/48 (e)		253
	250		BA Credit Card Trust, Series 2015-A2, Class A, 1.360%, 09/15/20		249
	309		BCC Funding Corp. X, Series 2015-1, Class A2, 2.224%, 10/20/20 (e)		310
	31		Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.591%, 04/25/36		29
			BMW Vehicle Owner Trust,
	79		Series 2013-A, Class A3, 0.670%, 11/27/17		79
	96		Series 2014-A, Class A2, 0.530%, 04/25/17		96
	160		Series 2014-A, Class A3, 0.970%, 11/26/18		160
	100		Cabela’s Credit Card Master Note Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		100
	6		California Republic Auto Receivables Trust, Series 2012-1, Class A, 1.180%, 08/15/17 (e)		6
	554		CAM Mortgage LLC, Series 2015-1, Class A, SUB, 3.375%, 07/15/64 (e)		553
			CarFinance Capital Auto Trust,
	3		Series 2013-2A, Class A, 1.750%, 11/15/17 (e)		3
	259		Series 2014-1A, Class A, 1.460%, 12/17/18 (e)		259
	125		Series 2014-1A, Class B, 2.720%, 04/15/20 (e)		125
	183		Series 2014-2A, Class A, 1.440%, 11/16/20 (e)		182
	147		Series 2015-1A, Class A, 1.750%, 06/15/21 (e)		145
	250		Carlyle Global Market Strategies Commodities Funding Ltd., (Cayman Islands), Series 2014-1A, Class A, VAR, 2.221%, 10/15/21 (e)		250
			CarMax Auto Owner Trust,
	113		Series 2013-4, Class A3, 0.800%, 07/16/18		112
	137		Series 2013-4, Class A4, 1.280%, 05/15/19		137
	337		Series 2014-2, Class A3, 0.980%, 01/15/19		336
	1,212		Series 2015-2, Class A2A, 0.820%, 06/15/18		1,210
			Carnow Auto Receivables Trust,
	10		Series 2014-1A, Class A, 0.960%, 01/17/17 (e)		9
	425		Series 2015-1A, Class A, 1.690%, 01/15/20 (e)		425

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	61	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 4.680%, 06/25/32		62
	363	Citi Held For Asset Issuance, Series 2015-PM1, Class A, 1.850%, 12/15/21 (e)		363
	591	Colony American Homes, Series 2014-2A, Class A, VAR, 1.163%, 07/17/31 (e)		576
	300	Concord Funding Co. LLC, Series 2012-2, Class A, 3.145%, 01/15/17 (e)		300
	137	Consumer Credit Origination Loan Trust, Series 2015-1, Class A, 2.820%, 03/15/21 (e)		138
		CPS Auto Receivables Trust,
	12	Series 2011-C, Class A, 4.210%, 03/15/19 (e)		12
	12	Series 2012-A, Class A, 2.780%, 06/17/19 (e)		12
	80	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		80
	153	Series 2014-A, Class A, 1.210%, 08/15/18 (e)		153
	162	Series 2014-B, Class A, 1.110%, 11/15/18 (e)		161
	195	Series 2014-C, Class A, 1.310%, 02/15/19 (e)		194
	258	Series 2014-D, Class A, 1.490%, 04/15/19 (e)		257
	203	Series 2015-A, Class A, 1.530%, 07/15/19 (e)		202
	854	Series 2015-B, Class A, 1.650%, 11/15/19 (e)		848
	425	Series 2015-B, Class C, 4.200%, 05/17/21 (e)		420
	310	Series 2015-C, Class D, 4.630%, 08/16/21 (e)		309
		Credit Acceptance Auto Loan Trust,
	250	Series 2014-1A, Class A, 1.550%, 10/15/21 (e)		249
	363	Series 2015-2A, Class A, 2.400%, 02/15/23 (e)		362
	250	Series 2015-2A, Class C, 3.760%, 02/15/24 (e)		249
	400	Discover Card Execution Note Trust, Series 2015-A3, Class A, 1.450%, 03/15/21		398
		Drive Auto Receivables Trust,
	120	Series 2015-AA, Class A2, 1.010%, 11/15/17 (e)		121
	177	Series 2015-AA, Class D, 4.120%, 07/15/22 (e)		176
	408	Series 2015-BA, Class B, 2.120%, 06/17/19 (e)		408
	320	Series 2015-BA, Class D, 3.840%, 07/15/21 (e)		315
	110	Series 2015-CA, Class A2A, 1.030%, 02/15/18 (e)		110
	220	Series 2015-DA, Class D, 4.590%, 01/17/23 (e)		220
		DT Auto Owner Trust,
	155	Series 2014-3A, Class A, 0.980%, 04/16/18 (e)		155
	103	Series 2015-1A, Class A, 1.060%, 09/17/18 (e)		103
	260	Series 2015-2A, Class A, 1.240%, 09/17/18 (e)		259
	301	Series 2015-2A, Class D, 4.250%, 02/15/22 (e)		300
		Exeter Automobile Receivables Trust,
	651	Series 2014-1A, Class A, 1.290%, 05/15/18 (e)		651
	300	Series 2014-1A, Class B, 2.420%, 01/15/19 (e)		300
	129	Series 2014-2A, Class A, 1.060%, 08/15/18 (e)		129
	289	Series 2014-3A, Class A, 1.320%, 01/15/19 (e)		288
	56	Series 2014-3A, Class B, 2.770%, 11/15/19 (e)		56
	226	Series 2015-1A, Class A, 1.600%, 06/17/19 (e)		226
	500	Series 2015-1A, Class B, 2.840%, 03/16/20 (e)		500
	421	Series 2015-2A, Class A, 1.540%, 11/15/19 (e)		419
		Fifth Third Auto Trust,
	65	Series 2013-1, Class A3, 0.880%, 10/16/17		65
	47	Series 2014-3, Class A2A, 0.570%, 05/15/17		47
	77	Series 2014-3, Class A3, 0.960%, 03/15/19		77
	318	Series 2015-1, Class A3, 1.420%, 03/16/20		316
		First Investors Auto Owner Trust,
	2	Series 2012-2A, Class A2, 1.470%, 05/15/18 (e)		2
	7	Series 2013-1A, Class A2, 0.900%, 10/15/18 (e)		8
	96	Series 2014-3A, Class A2, 1.060%, 11/15/18 (e)		96
	138	Series 2014-3A, Class A3, 1.670%, 11/16/20 (e)		137

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	186	Series 2015-1A, Class A2, 1.210%, 04/15/19 (e)		185
	260	Series 2015-2A, Class A1, 1.590%, 12/16/19 (e)		260
	100	Series 2015-2A, Class D, 4.220%, 12/15/21 (e)		100
		FirstKey Lending Trust,
	297	Series 2015-SFR1, Class A, 2.553%, 03/09/47 (e)		292
	144	Series 2015-SFR1, Class B, 3.417%, 03/09/47 (e)		143
		Flagship Credit Auto Trust,
	139	Series 2013-1, Class A, 1.320%, 04/16/18 (e)		139
	88	Series 2013-2, Class A, 1.940%, 01/15/19 (e)		88
	228	Series 2014-2, Class A, 1.430%, 12/16/19 (e)		226
	89	Series 2014-2, Class B, 2.840%, 11/16/20 (e)		89
	44	Series 2014-2, Class C, 3.950%, 12/15/20 (e)		44
	254	Series 2015-1, Class A, 1.630%, 06/15/20 (e)		252
	766	Series 2015-3, Class A, 2.380%, 10/15/20 (e)		766
	114	Series 2015-3, Class B, 3.680%, 03/15/22 (e)		114
	113	Series 2015-3, Class C, 4.650%, 03/15/22 (e)		113
		Ford Credit Auto Lease Trust,
	96	Series 2013-B, Class A4, 0.960%, 10/15/16		96
	83	Series 2014-B, Class A3, 0.890%, 09/15/17		83
	33	Series 2014-B, Class A4, 1.100%, 11/15/17		33
		Ford Credit Auto Owner Trust,
	4	Series 2012-D, Class A3, 0.510%, 04/15/17		4
	135	Series 2014-C, Class A2, 0.610%, 08/15/17		134
	245	Series 2014-C, Class A3, 1.060%, 05/15/19		245
	154	Series 2015-A, Class A2A, 0.810%, 01/15/18		154
	471	Series 2015-A, Class A3, 1.280%, 09/15/19		471
	912	Series 2015-B, Class A2A, 0.720%, 03/15/18		912
	140	Ford Credit Floorplan Master Owner Trust, Series 2013-1, Class A2, VAR, 0.577%, 01/15/18		140
	691	GCAT, Series 2015-2, Class A1, SUB, 3.750%, 07/25/20 (e)		690
	50	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		46
	19	GE Equipment Midticket LLC, Series 2012-1, Class A4, 0.780%, 09/22/20		19
	374	GLS Auto Receivables Trust, Series 2015-1A, Class A, 2.250%, 12/15/20 (e)		372
		GM Financial Automobile Leasing Trust,
	1,226	Series 2015-1, Class A2, 1.100%, 12/20/17		1,225
	428	Series 2015-1, Class A3, 1.530%, 09/20/18		427
	134	Series 2015-1, Class A4, 1.730%, 06/20/19		133
	155	GMAT Trust, Series 2013-1A, Class A, SUB, 3.967%, 11/25/43 (e)		156
		GO Financial Auto Securitization Trust,
	424	Series 2015-1, Class A, 1.810%, 03/15/18 (e)		424
	249	Series 2015-1, Class B, 3.590%, 10/15/20 (e)		248
	500	Series 2015-2, Class A, 3.270%, 11/15/18 (e)		500
	267	Series 2015-2, Class B, 4.800%, 08/17/20 (e)		267
	148	Gold Key Resorts LLC, Series 2014-A, Class A, 3.220%, 03/17/31 (e)		147
	531	Green Tree Agency Advance Funding Trust I, Series 2015-T1, Class DT1, 3.931%, 10/15/46 (e)		528
		Honda Auto Receivables Owner Trust,
	240	Series 2013-4, Class A3, 0.690%, 09/18/17		240
	140	Series 2013-4, Class A4, 1.040%, 02/18/20		140
	186	Series 2014-2, Class A3, 0.770%, 03/19/18		186
	194	Series 2015-1, Class A2, 0.700%, 06/15/17		193
	25	HSBC Home Equity Loan Trust USA, Series 2007-3, Class APT, VAR, 1.407%, 11/20/36		25
		Hyundai Auto Receivables Trust,
	281	Series 2014-B, Class A3, 0.900%, 12/17/18		280
	248	Series 2015-A, Class A2, 0.680%, 10/16/17		248

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	295	Series 2015-B, Class A2A, 0.690%, 04/16/18		295
	233	Series 2015-B, Class A3, 1.120%, 11/15/19		232
	600	Invitation Homes Trust, Series 2014-SFR1, Class A, VAR, 1.197%, 06/17/31 (e)		588
	936	LV Tower 52 Issuer LLC, Series 2013-1, Class A, 5.500%, 07/15/19 (e)		923
		MarketPlace Loan Trust,
	215	Series 2015-OD1, Class A, 3.250%, 06/17/17 (e)		214
	318	Series 2015-OD2, Class A, 3.250%, 08/17/17 (e)		318
	697	Series 2015-OD3, Class A, 3.875%, 09/17/17 (e)		695
	409	Mercedes-Benz Auto Receivables Trust, Series 2015-1, Class A2A, 0.820%, 06/15/18		408
	158	Nationstar HECM Loan Trust, Series 2015-1A, Class A, 3.844%, 05/25/18 (e)		158
	30	Navitas Equipment Receivables LLC, Series 2013-1, Class A, 1.950%, 11/15/16 (e)		30
		Nissan Auto Receivables Owner Trust,
	49	Series 2012-A, Class A4, 1.000%, 07/16/18		49
	120	Series 2014-B, Class A3, 1.110%, 05/15/19		120
	83	Normandy Mortgage Loan Co. LLC, Series 2013-NPL3, Class A, SUB, 4.949%, 09/16/43 (e)		83
		NRPL Trust,
	334	Series 2015-1A, Class A1, SUB, 3.875%, 11/01/54 (e)		333
	623	Series 2015-2A, Class A1, VAR, 3.750%, 10/25/57 (e)		620
		NRZ Advance Receivables Trust Advance Receivables Backed Notes,
	450	Series 2015-T1, Class AT1, 2.315%, 08/15/46 (e)		450
	250	Series 2015-T1, Class CT1, 3.100%, 08/15/46 (e)		250
	200	Series 2015-T1, Class DT1, 3.600%, 08/15/46 (e)		199
	201	Series 2015-T2, Class DT2, 4.679%, 08/17/48 (e)		201
	550	Series 2015-T3, Class DT3, 4.266%, 11/15/46 (e)		550
	900	Series 2015-T4, Class AT4, 3.196%, 11/15/47 (e)		900
	300	Series 2015-T4, Class DT4, 4.671%, 11/15/47 (e)		300
	114	NYMT Residential LLC, Series 2013-RP3A, Class NOTE, SUB, 4.850%, 09/25/18 (e)		114
		Oak Hill Advisors Residential Loan Trust,
	289	Series 2014-NPL2, Class A1, SUB, 3.475%, 04/25/54 (e)		287
	477	Series 2015-NPL2, Class A1, SUB, 3.721%, 07/25/55 (e)		474
		Ocwen Master Advance Receivables Trust,
	438	Series 2015-1, Class DT1, 4.100%, 09/17/46 (e)		437
	443	Series 2015-T1, Class AT1, 2.537%, 09/17/46 (e)		443
	661	Series 2015-T3, Class AT3, 3.211%, 11/15/47 (e)		661
	295	Series 2015-T3, Class BT3, 3.704%, 11/15/47 (e)		295
		OneMain Financial Issuance Trust,
	902	Series 2014-2A, Class A, 2.470%, 09/18/24 (e)		901
	403	Series 2015-1A, Class A, 3.190%, 03/18/26 (e)		404
	875	Series 2015-2A, Class A, 2.570%, 07/18/25 (e)		871
	233	Series 2015-2A, Class B, 3.100%, 07/18/25 (e)		229
	46	Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-MCW1, Class M1, VAR, 1.159%, 10/25/34		46
	463	Pretium Mortgage Credit Partners I LLC, Series 2015-NPL2, Class A1, SUB, 3.750%, 07/27/30 (e)		463
	500	Progreso Receivables Funding II LLC, Series 2014-A, Class A, 3.500%, 07/08/19 (e)		501
	500	Progreso Receivables Funding III LLC, Series 2015-A, Class A, 3.625%, 02/08/20 (e)		500
	321	Progreso Receivables Funding LLC, Series 2015-B, Class A, 3.000%, 07/28/20 (e)		321
		Progress Residential Trust,
	868	Series 2015-SFR2, Class A, 2.740%, 06/12/32 (e)		853
	351	Series 2015-SFR2, Class B, 3.138%, 06/12/32 (e)		341
	789	Series 2015-SFR3, Class A, 3.067%, 11/12/32 (e)		784
	100	Series 2015-SFR3, Class D, 4.673%, 11/12/32 (e)		100
	850	Purchasing Power Funding LLC, Series 2015-A, Class A2, 4.750%, 12/15/19 (e)		850

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	59		RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.521%, 03/25/36		58
	262		RMAT LLC, Series 2015-NPL1, Class A1, SUB, 3.750%, 05/25/55 (e)		259
			Santander Drive Auto Receivables Trust,
	240		Series 2015-S1, Class R1, 1.930%, 09/17/19 (e)		239
	61		Series 2015-S2, Class R1, 1.840%, 11/18/19 (e)		60
	244		Series 2015-S7, Class R1, 1.970%, 03/16/21 (e)		242
	39		Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.373%, 01/25/36		29
	138		Selene Non-Performing Loans LLC, Series 2014-1A, Class A, SUB, 2.981%, 05/25/54 (e)		137
	124		Skopos Auto Receivables Trust, Series 2015-2A, Class A, 3.550%, 02/15/20 (e)		124
			SpringCastle America Funding LLC,
	746		Series 2014-AA, Class A, 2.700%, 05/25/23 (e)		748
	175		Series 2014-AA, Class B, 4.610%, 10/25/27 (e)		176
			Springleaf Funding Trust,
	230		Series 2013-AA, Class A, 2.580%, 09/15/21 (e)		229
	840		Series 2014-AA, Class A, 2.410%, 12/15/22 (e)		839
	461		Series 2015-AA, Class A, 3.160%, 11/15/24 (e)		460
	462		Sunset Mortgage Loan Co. LLC, Series 2014-NPL2, Class A, SUB, 3.721%, 11/16/44 (e)		459
	143		Tidewater Auto Receivables Trust, Series 2014-AA, Class A3, 1.400%, 07/15/18 (e)		143
			Toyota Auto Receivables Owner Trust,
	80		Series 2014-C, Class A2, 0.510%, 02/15/17		80
	134		Series 2014-C, Class A3, 0.930%, 07/16/18		134
	266		Trafigura Securitisation Finance plc, (Ireland), Series 2014-1A, Class A, VAR, 1.147%, 10/15/21 (e)		266
	128		Tricon American Homes Trust, Series 2015-SFR1, Class A, VAR, 1.447%, 05/17/32 (e)		126
			Truman Capital Mortgage Loan Trust,
	98		Series 2014-NPL1, Class A1, SUB, 3.228%, 07/25/53 (e)		98
	17		Series 2014-NPL2, Class A1, SUB, 3.125%, 06/25/54 (e)		17
	60		Series 2014-NPL3, Class A1, SUB, 3.125%, 04/25/53 (e)		59
	304		U.S. Residential Opportunity Fund II Trust, Series 2015-1II, Class A, 3.721%, 02/27/35 (e)		303
	86		VML LLC, Series 2014-NPL1, Class A1, VAR, 3.875%, 04/27/54 (e)		86
	241		Volkswagen Auto Lease Trust, Series 2015-A, Class A2A, 0.870%, 06/20/17		241
	153		VOLT NPL X LLC, Series 2014-NPL8, Class A1, SUB, 3.375%, 10/26/54 (e)		153
	888		VOLT XXV LLC, Series 2015-NPL8, Class A1, SUB, 3.500%, 06/26/45 (e)		876
			VOLT XXVI LLC,
	398		Series 2014-NPL6, Class A1, SUB, 3.125%, 09/25/43 (e)		398
	116		Series 2014-NPL6, Class A2, SUB, 4.250%, 09/25/43 (e)		115
	420		VOLT XXVII LLC, Series 2014-NPL7, Class A1, SUB, 3.375%, 08/27/57 (e)		419
	288		VOLT XXXIX LLC, Series 2015-NP13, Class A1, SUB, 4.125%, 10/25/45 (e)		288
	381		VOLT XXXV LLC, Series 2015-NPL9, Class A1, SUB, 3.500%, 06/26/45 (e)		380
			World Omni Auto Receivables Trust,
	275		Series 2013-B, Class A3, 0.830%, 08/15/18		275
	127		Series 2013-B, Class A4, 1.320%, 01/15/20		127
	153		Series 2015-A, Class A2A, 0.790%, 07/16/18		153
	77		Series 2015-A, Class A3, 1.340%, 05/15/20		77
			Total Asset-Backed Securities (Cost $59,343)		59,151
	Collateralized Mortgage Obligations — 17.2%
			Agency CMO — 14.7%
	35		Federal Home Loan Mortgage Corp. – Government National Mortgage Association, Series 24, Class ZE, 6.250%, 11/25/23		38
			Federal Home Loan Mortgage Corp. REMIC,
	1		Series 46, Class B, 7.800%, 09/15/20		1
	–	(h)	Series 47, Class F, 10.000%, 06/15/20		—	(h)
	–	(h)	Series 85, Class C, 8.600%, 01/15/21		—	(h)
	1		Series 99, Class Z, 9.500%, 01/15/21		1
	6		Series 114, Class H, 6.950%, 01/15/21		7

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	–	(h)	Series 1079, Class S, HB, IF, 33.330%, 05/15/21		—	(h)
	–	(h)	Series 1084, Class F, VAR, 1.147%, 05/15/21		—	(h)
	–	(h)	Series 1084, Class S, HB, IF, 44.339%, 05/15/21		—	(h)
	5		Series 1144, Class KB, 8.500%, 09/15/21		6
	–	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	–	(h)	Series 1196, Class B, HB, IF, 1,175.570%, 01/15/22		—	(h)
	4		Series 1206, Class IA, 7.000%, 03/15/22		4
	3		Series 1250, Class J, 7.000%, 05/15/22		3
	11		Series 1343, Class LA, 8.000%, 08/15/22		12
	48		Series 1466, Class PZ, 7.500%, 02/15/23		53
	1		Series 1470, Class F, VAR, 1.651%, 02/15/23		1
	18		Series 1491, Class I, 7.500%, 04/15/23		20
	17		Series 1518, Class G, IF, 8.788%, 05/15/23		21
	15		Series 1541, Class O, VAR, 1.410%, 07/15/23		15
	3		Series 1602, Class SA, HB, IF, 22.110%, 10/15/23		5
	53		Series 1608, Class L, 6.500%, 09/15/23		61
	4		Series 1671, Class L, 7.000%, 02/15/24		5
	9		Series 1700, Class GA, PO, 02/15/24		9
	91		Series 1706, Class K, 7.000%, 03/15/24		101
	319		Series 1720, Class PL, 7.500%, 04/15/24		360
	9		Series 1745, Class D, 7.500%, 08/15/24		11
	19		Series 1798, Class F, 5.000%, 05/15/23		21
	1		Series 1807, Class G, 9.000%, 10/15/20		1
	100		Series 1927, Class PH, 7.500%, 01/15/27		114
	42		Series 1981, Class Z, 6.000%, 05/15/27		46
	14		Series 1987, Class PE, 7.500%, 09/15/27		15
	6		Series 2033, Class SN, HB, IF, 28.507%, 03/15/24		3
	16		Series 2038, Class PN, IO, 7.000%, 03/15/28		3
	86		Series 2040, Class PE, 7.500%, 03/15/28		98
	9		Series 2056, Class TD, 6.500%, 05/15/18		10
	91		Series 2063, Class PG, 6.500%, 06/15/28		104
	11		Series 2064, Class TE, 7.000%, 06/15/28		12
	65		Series 2075, Class PH, 6.500%, 08/15/28		72
	63		Series 2075, Class PM, 6.250%, 08/15/28		70
	20		Series 2089, Class PJ, IO, 7.000%, 10/15/28		2
	38		Series 2125, Class JZ, 6.000%, 02/15/29		42
	9		Series 2163, Class PC, IO, 7.500%, 06/15/29		1
	180		Series 2169, Class TB, 7.000%, 06/15/29		205
	60		Series 2172, Class QC, 7.000%, 07/15/29		67
	–	(h)	Series 2196, Class TL, 7.500%, 11/15/29		1
	31		Series 2201, Class C, 8.000%, 11/15/29		35
	77		Series 2210, Class Z, 8.000%, 01/15/30		89
	21		Series 2224, Class CB, 8.000%, 03/15/30		25
	40		Series 2256, Class MC, 7.250%, 09/15/30		46
	46		Series 2259, Class ZM, 7.000%, 10/15/30		53
	46		Series 2271, Class PC, 7.250%, 12/15/30		53
	34		Series 2283, Class K, 6.500%, 12/15/23		38
	20		Series 2296, Class PD, 7.000%, 03/15/31		23
	10		Series 2306, Class K, PO, 05/15/24		10
	24		Series 2306, Class SE, IF, IO, 8.540%, 05/15/24		3
	29		Series 2333, Class HC, 6.000%, 07/15/31		28
	2		Series 2344, Class QG, 6.000%, 08/15/16		2
	386		Series 2344, Class ZD, 6.500%, 08/15/31		447
	45		Series 2344, Class ZJ, 6.500%, 08/15/31		51
	33		Series 2345, Class NE, 6.500%, 08/15/31		38
	4		Series 2345, Class PQ, 6.500%, 08/15/16		4
	18		Series 2347, Class VP, 6.500%, 03/15/20		19
	42		Series 2351, Class PZ, 6.500%, 08/15/31		48
	3		Series 2355, Class BP, 6.000%, 09/15/16		3
	4		Series 2360, Class PG, 6.000%, 09/15/16		4
	3		Series 2366, Class MD, 6.000%, 10/15/16		3
	4		Series 2391, Class QR, 5.500%, 12/15/16		4
	33		Series 2410, Class NG, 6.500%, 02/15/32		37
	50		Series 2410, Class OE, 6.375%, 02/15/32		53
	22		Series 2410, Class QX, IF, IO, 8.453%, 02/15/32		7
	84		Series 2412, Class SP, IF, 15.706%, 02/15/32		114
	25		Series 2423, Class MC, 7.000%, 03/15/32		29
	51		Series 2423, Class MT, 7.000%, 03/15/32		58
	188		Series 2435, Class CJ, 6.500%, 04/15/32		218
	55		Series 2441, Class GF, 6.500%, 04/15/32		63
	54		Series 2444, Class ES, IF, IO, 7.753%, 03/15/32		15
	66		Series 2450, Class GZ, 7.000%, 05/15/32		75
	22		Series 2450, Class SW, IF, IO, 7.803%, 03/15/32		6
	81		Series 2455, Class GK, 6.500%, 05/15/32		93
	115		Series 2466, Class DH, 6.500%, 06/15/32		131

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	64	Series 2474, Class NR, 6.500%, 07/15/32		72
	106	Series 2484, Class LZ, 6.500%, 07/15/32		121
	124	Series 2500, Class MC, 6.000%, 09/15/32		140
	184	Series 2512, Class PG, 5.500%, 10/15/22		200
	34	Series 2535, Class BK, 5.500%, 12/15/22		37
	31	Series 2537, Class TE, 5.500%, 12/15/17		32
	211	Series 2543, Class YX, 6.000%, 12/15/32		237
	272	Series 2568, Class KG, 5.500%, 02/15/23		296
	374	Series 2575, Class ME, 6.000%, 02/15/33		410
	32	Series 2586, Class WI, IO, 6.500%, 03/15/33		6
	40	Series 2622, Class PE, 4.500%, 05/15/18		41
	23	Series 2631, Class LC, 4.500%, 06/15/18		24
	38	Series 2651, Class VZ, 4.500%, 07/15/18		40
	47	Series 2684, Class PO, PO, 01/15/33		46
	46	Series 2744, Class TU, 5.500%, 05/15/32		48
	69	Series 2934, Class EC, PO, 02/15/20		66
	90	Series 2990, Class SL, HB, IF, 23.771%, 06/15/34		122
	1,003	Series 2990, Class UZ, 5.750%, 06/15/35		1,143
	187	Series 2999, Class ND, 4.500%, 07/15/20		194
	9	Series 3068, Class AO, PO, 01/15/35		9
	115	Series 3117, Class EO, PO, 02/15/36		108
	12	Series 3117, Class OK, PO, 02/15/36		12
	171	Series 3122, Class OH, PO, 03/15/36		159
	181	Series 3137, Class XP, 6.000%, 04/15/36		207
	6	Series 3149, Class SO, PO, 05/15/36		5
	258	Series 3152, Class MO, PO, 03/15/36		238
	103	Series 3171, Class MO, PO, 06/15/36		96
	43	Series 3179, Class OA, PO, 07/15/36		39
	373	Series 3202, Class HI, IF, IO, 6.453%, 08/15/36		62
	63	Series 3232, Class ST, IF, IO, 6.503%, 10/15/36		10
	45	Series 3253, Class PO, PO, 12/15/21		44
	35	Series 3316, Class JO, PO, 05/15/37		33
	803	Series 3417, Class EO, PO, 11/15/36		759
	206	Series 3481, Class SJ, IF, IO, 5.653%, 08/15/38		27
	82	Series 3607, Class AO, PO, 04/15/36		76
	282	Series 3607, Class OP, PO, 07/15/37		250
	53	Series 3611, Class PO, PO, 07/15/34		49
	508	Series 3680, Class MA, 4.500%, 07/15/39		547
	168	Series 3804, Class FN, VAR, 0.647%, 03/15/39		169
	510	Series 3819, Class ZQ, 6.000%, 04/15/36		577
	200	Series 3997, Class PF, VAR, 0.647%, 11/15/39		201
	802	Series 4219, Class JA, 3.500%, 08/15/39		839
	1,326	Series 4374, Class NC, SUB, 1.750%, 02/15/46		1,375
		Federal Home Loan Mortgage Corp. STRIPS,
	25	Series 243, Class 16, IO, 4.500%, 11/15/20		1
	800	Series 262, Class 35, 3.500%, 07/15/42		816
		Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	36	Series T-41, Class 3A, VAR, 6.053%, 07/25/32		42
	30	Series T-51, Class 2A, VAR, 7.500%, 08/25/42		37
	305	Series T-54, Class 2A, 6.500%, 02/25/43		358
	107	Series T-54, Class 3A, 7.000%, 02/25/43		125
	801	Series T-56, Class A5, 5.231%, 05/25/43		880
	26	Series T-58, Class APO, PO, 09/25/43		22
	214	Series T-76, Class 2A, VAR, 3.135%, 10/25/37		215
		Federal National Mortgage Association – ACES,
	489	Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		528
	1,000	Series 2012-M9, Class A2, 2.482%, 04/25/22		1,010
	206	Series 2012-M11, Class FA, VAR, 0.737%, 08/25/19		207
	444	Series 2014-M2, Class A2, VAR, 3.513%, 12/25/23		472
	2,000	Series 2014-M3, Class A2, VAR, 3.501%, 01/25/24		2,122
	1,000	Series 2014-M12, Class ASV2, VAR, 2.614%, 10/25/21		1,018
	636	Series 2014-M13, Class A2, VAR, 3.021%, 08/25/24		649
	1,000	Series 2015-M3, Class A2, 2.723%, 10/25/24		996
	820	Series 2015-M7, Class A2, 2.590%, 12/25/24		821
		Federal National Mortgage Association REMIC,
	1	Series 1988-7, Class Z, 9.250%, 04/25/18		1
	4	Series 1989-70, Class G, 8.000%, 10/25/19		4
	2	Series 1989-78, Class H, 9.400%, 11/25/19		2

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	1		Series 1989-83, Class H, 8.500%, 11/25/19		2
	1		Series 1989-89, Class H, 9.000%, 11/25/19		1
	–	(h)	Series 1990-1, Class D, 8.800%, 01/25/20		—	(h)
	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		1
	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)
	5		Series 1990-102, Class J, 6.500%, 08/25/20		6
	2		Series 1990-120, Class H, 9.000%, 10/25/20		2
	–	(h)	Series 1990-134, Class SC, HB, IF, 21.269%, 11/25/20		—	(h)
	–	(h)	Series 1990-140, Class K, HB, 652.145%, 12/25/20		—	(h)
	1		Series 1991-42, Class S, IF, 17.288%, 05/25/21		2
	30		Series 1992-107, Class SB, HB, IF, 29.414%, 06/25/22		49
	2		Series 1992-143, Class MA, 5.500%, 09/25/22		2
	15		Series 1993-25, Class J, 7.500%, 03/25/23		16
	100		Series 1993-37, Class PX, 7.000%, 03/25/23		110
	35		Series 1993-54, Class Z, 7.000%, 04/25/23		39
	7		Series 1993-62, Class SA, IF, 19.014%, 04/25/23		11
	9		Series 1993-122, Class M, 6.500%, 07/25/23		10
	4		Series 1993-165, Class SD, IF, 13.476%, 09/25/23		5
	16		Series 1993-178, Class PK, 6.500%, 09/25/23		17
	240		Series 1993-183, Class KA, 6.500%, 10/25/23		275
	110		Series 1993-189, Class PL, 6.500%, 10/25/23		123
	24		Series 1993-247, Class SA, HB, IF, 28.128%, 12/25/23		41
	2		Series 1994-9, Class E, PO, 11/25/23		1
	68		Series 1996-14, Class SE, IF, IO, 8.690%, 08/25/23		15
	1		Series 1996-27, Class FC, VAR, 0.721%, 03/25/17		1
	7		Series 1996-59, Class J, 6.500%, 08/25/22		8
	31		Series 1997-20, Class IB, IO, VAR, 1.840%, 03/25/27		1
	29		Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		1
	17		Series 1997-27, Class J, 7.500%, 04/18/27		19
	21		Series 1997-29, Class J, 7.500%, 04/20/27		25
	47		Series 1997-39, Class PD, 7.500%, 05/20/27		55
	13		Series 1997-81, Class PI, IO, 7.000%, 12/18/27		2
	2		Series 1998-4, Class C, PO, 04/25/23		2
	12		Series 1998-36, Class ZB, 6.000%, 07/18/28		13
	149		Series 1998-43, Class EA, PO, 04/25/23		142
	93		Series 2000-2, Class ZE, 7.500%, 02/25/30		107
	27		Series 2001-4, Class PC, 7.000%, 03/25/21		30
	61		Series 2001-33, Class ID, IO, 6.000%, 07/25/31		8
	72		Series 2001-36, Class DE, 7.000%, 08/25/31		84
	17		Series 2001-44, Class PD, 7.000%, 09/25/31		19
	98		Series 2001-48, Class Z, 6.500%, 09/25/21		108
	13		Series 2001-49, Class Z, 6.500%, 09/25/31		15
	8		Series 2001-71, Class MB, 6.000%, 12/25/16		8
	7		Series 2001-71, Class QE, 6.000%, 12/25/16		7
	57		Series 2001-74, Class MB, 6.000%, 12/25/16		58
	12		Series 2001-81, Class LO, PO, 01/25/32		11
	33		Series 2002-1, Class HC, 6.500%, 02/25/22		37
	16		Series 2002-1, Class SA, HB, IF, 24.469%, 02/25/32		28
	6		Series 2002-2, Class UC, 6.000%, 02/25/17		6

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	7	Series 2002-3, Class OG, 6.000%, 02/25/17		7
	44	Series 2002-21, Class PE, 6.500%, 04/25/32		49
	26	Series 2002-24, Class AJ, 6.000%, 04/25/17		27
	46	Series 2002-28, Class PK, 6.500%, 05/25/32		51
	49	Series 2002-37, Class Z, 6.500%, 06/25/32		56
	33	Series 2002-94, Class BK, 5.500%, 01/25/18		33
	186	Series 2003-22, Class UD, 4.000%, 04/25/33		195
	162	Series 2003-34, Class GB, 6.000%, 03/25/33		174
	304	Series 2003-34, Class GE, 6.000%, 05/25/33		352
	10	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		2
	168	Series 2003-47, Class PE, 5.750%, 06/25/33		190
	22	Series 2003-52, Class SX, HB, IF, 22.287%, 10/25/31		33
	23	Series 2003-64, Class SX, IF, 13.268%, 07/25/33		28
	109	Series 2003-71, Class DS, IF, 7.209%, 08/25/33		119
	44	Series 2003-80, Class SY, IF, IO, 7.429%, 06/25/23		2
	62	Series 2003-83, Class PG, 5.000%, 06/25/23		65
	17	Series 2003-91, Class SD, IF, 12.132%, 09/25/33		21
	156	Series 2003-116, Class SB, IF, IO, 7.379%, 11/25/33		34
	15	Series 2003-130, Class SX, IF, 11.189%, 01/25/34		19
	127	Series 2004-25, Class PC, 5.500%, 01/25/34		133
	103	Series 2004-25, Class SA, IF, 18.917%, 04/25/34		151
	85	Series 2004-36, Class PC, 5.500%, 02/25/34		89
	106	Series 2004-36, Class SA, IF, 18.917%, 05/25/34		148
	67	Series 2004-46, Class SK, IF, 15.892%, 05/25/34		88
	758	Series 2004-50, Class VZ, 5.500%, 07/25/34		853
	58	Series 2004-61, Class SH, HB, IF, 23.104%, 11/25/32		86
	50	Series 2004-74, Class SW, IF, 15.102%, 11/25/31		74
	47	Series 2004-76, Class CL, 4.000%, 10/25/19		48
	105	Series 2005-45, Class DC, HB, IF, 23.500%, 06/25/35		164
	15	Series 2005-52, Class PA, 6.500%, 06/25/35		16
	77	Series 2005-56, Class S, IF, IO, 6.489%, 07/25/35		15
	146	Series 2005-56, Class TP, IF, 17.487%, 08/25/33		199
	481	Series 2005-68, Class PG, 5.500%, 08/25/35		537
	200	Series 2005-73, Class PS, IF, 16.148%, 08/25/35		279
	86	Series 2005-74, Class CS, IF, 19.412%, 05/25/35		122
	164	Series 2005-106, Class US, HB, IF, 23.756%, 11/25/35		250
	550	Series 2005-121, Class DX, 5.500%, 01/25/26		598
	166	Series 2006-27, Class OH, PO, 04/25/36		155
	54	Series 2006-44, Class P, PO, 12/25/33		50
	347	Series 2006-56, Class FC, VAR, 0.511%, 07/25/36		348
	60	Series 2006-59, Class QO, PO, 01/25/33		59
	55	Series 2006-65, Class QO, PO, 07/25/36		50
	81	Series 2006-72, Class GO, PO, 08/25/36		75
	171	Series 2006-77, Class PC, 6.500%, 08/25/36		195
	66	Series 2006-79, Class DO, PO, 08/25/36		60
	111	Series 2006-110, Class PO, PO, 11/25/36		103
	218	Series 2006-124, Class HB, VAR, 5.931%, 11/25/36		229
	87	Series 2007-14, Class ES, IF, IO, 6.219%, 03/25/37		14
	66	Series 2007-79, Class SB, HB, IF, 23.206%, 08/25/37		96
	472	Series 2007-81, Class GE, 6.000%, 08/25/37		530
	190	Series 2007-88, Class VI, IF, IO, 6.319%, 09/25/37		38
	484	Series 2007-91, Class ES, IF, IO, 6.239%, 10/25/37		74
	93	Series 2007-106, Class A7, VAR, 6.103%, 10/25/37		103

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	133		Series 2007-116, Class HI, IO, VAR, 1.555%, 01/25/38		9
	46		Series 2008-10, Class XI, IF, IO, 6.009%, 03/25/38		7
	33		Series 2008-16, Class IS, IF, IO, 5.979%, 03/25/38		6
	72		Series 2008-28, Class QS, HB, IF, 20.037%, 04/25/38		98
	126		Series 2008-46, Class HI, IO, VAR, 1.748%, 06/25/38		9
	96		Series 2009-69, Class PO, PO, 09/25/39		89
	758		Series 2009-71, Class BC, 4.500%, 09/25/24		825
	227		Series 2009-103, Class MB, VAR, 2.474%, 12/25/39		239
	1,000		Series 2010-47, Class MB, 5.000%, 09/25/39		1,123
	324		Series 2010-71, Class HJ, 5.500%, 07/25/40		368
	1,000		Series 2011-44, Class EB, 3.000%, 05/25/26		1,035
	437		Series 2011-118, Class MT, 7.000%, 11/25/41		515
	403		Series 2011-118, Class NT, 7.000%, 11/25/41		475
	258		Series 2012-47, Class HF, VAR, 0.621%, 05/25/27		259
	439		Series 2013-101, Class DO, PO, 10/25/43		344
	432		Series 2013-128, Class PO, PO, 12/25/43		366
	2		Series G-14, Class L, 8.500%, 06/25/21		2
	7		Series G-18, Class Z, 8.750%, 06/25/21		8
	–	(h)	Series G-22, Class G, 6.000%, 12/25/16		—	(h)
	6		Series G-35, Class M, 8.750%, 10/25/21		7
	26		Series G92-35, Class E, 7.500%, 07/25/22		29
	2		Series G92-42, Class Z, 7.000%, 07/25/22		2
	9		Series G92-44, Class ZQ, 8.000%, 07/25/22		9
	22		Series G92-54, Class ZQ, 7.500%, 09/25/22		24
	6		Series G93-5, Class Z, 6.500%, 02/25/23		7
	9		Series G95-1, Class C, 8.800%, 01/25/25		11
			Federal National Mortgage Association REMIC Trust,
	130		Series 2003-W1, Class 1A1, VAR, 5.741%, 12/25/42		147
	28		Series 2003-W4, Class 2A, VAR, 6.356%, 10/25/42		32
	24		Series 2007-W7, Class 1A4, HB, IF, 37.854%, 07/25/37		37
			Federal National Mortgage Association STRIPS,
	–	(h)	Series 50, Class 2, IO, 10.500%, 03/25/19		—	(h)
	2		Series 218, Class 2, IO, 7.500%, 04/25/23		1
	63		Series 300, Class 1, PO, 09/25/24		59
	11		Series 329, Class 1, PO, 01/25/33		10
			Federal National Mortgage Association Trust,
	64		Series 2004-W2, Class 2A2, 7.000%, 02/25/44		74
	207		Series 2005-W3, Class 2AF, VAR, 0.441%, 03/25/45		207
			Government National Mortgage Association,
	144		Series 1994-7, Class PQ, 6.500%, 10/16/24		163
	17		Series 1999-30, Class S, IF, IO, 8.403%, 08/16/29		4
	10		Series 2000-9, Class Z, 8.000%, 06/20/30		12
	199		Series 2000-9, Class ZJ, 8.500%, 02/16/30		235
	31		Series 2002-31, Class S, IF, IO, 8.503%, 01/16/31		8
	82		Series 2002-40, Class UK, 6.500%, 06/20/32		95
	77		Series 2002-47, Class PG, 6.500%, 07/16/32		91
	95		Series 2002-47, Class PY, 6.000%, 07/20/32		107
	97		Series 2002-47, Class ZA, 6.500%, 07/20/32		110
	15		Series 2003-24, Class PO, PO, 03/16/33		14
	304		Series 2003-40, Class TJ, 6.500%, 03/20/33		352
	84		Series 2003-52, Class AP, PO, 06/16/33		75
	22		Series 2004-28, Class S, IF, 19.121%, 04/16/34		32
	50		Series 2004-71, Class SB, HB, IF, 28.449%, 09/20/34		86
	34		Series 2004-73, Class AE, IF, 14.449%, 08/17/34		42
	267		Series 2004-90, Class SI, IF, IO, 5.893%, 10/20/34		43
	77		Series 2005-68, Class DP, IF, 15.959%, 06/17/35		108
	515		Series 2005-68, Class KI, IF, IO, 6.093%, 09/20/35		98

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	831	Series 2006-38, Class ZK, 6.500%, 08/20/36		971
	57	Series 2006-59, Class SD, IF, IO, 6.493%, 10/20/36		10
	212	Series 2007-17, Class JI, IF, IO, 6.613%, 04/16/37		43
	242	Series 2007-27, Class SA, IF, IO, 5.993%, 05/20/37		39
	372	Series 2007-40, Class SB, IF, IO, 6.543%, 07/20/37		69
	226	Series 2007-45, Class QA, IF, IO, 6.433%, 07/20/37		45
	211	Series 2007-50, Class AI, IF, IO, 6.568%, 08/20/37		33
	55	Series 2007-53, Class ES, IF, IO, 6.343%, 09/20/37		11
	53	Series 2007-53, Class SW, IF, 19.585%, 09/20/37		75
	47	Series 2007-71, Class SB, IF, IO, 6.493%, 07/20/36		3
	116	Series 2007-72, Class US, IF, IO, 6.343%, 11/20/37		22
	116	Series 2007-76, Class SA, IF, IO, 6.323%, 11/20/37		22
	72	Series 2008-33, Class XS, IF, IO, 7.503%, 04/16/38		18
	209	Series 2008-40, Class SA, IF, IO, 6.203%, 05/16/38		40
	301	Series 2008-50, Class KB, 6.000%, 06/20/38		343
	157	Series 2008-55, Class SA, IF, IO, 5.993%, 06/20/38		25
	168	Series 2008-93, Class AS, IF, IO, 5.493%, 12/20/38		26
	55	Series 2009-6, Class SA, IF, IO, 5.903%, 02/16/39		8
	73	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		17
	244	Series 2009-22, Class SA, IF, IO, 6.063%, 04/20/39		34
	218	Series 2009-31, Class TS, IF, IO, 6.093%, 03/20/39		27
	199	Series 2009-79, Class OK, PO, 11/16/37		172
	948	Series 2009-92, Class ZC, 5.000%, 10/20/39		1,106
	386	Series 2009-106, Class ST, IF, IO, 5.793%, 02/20/38		64
	97	Series 2010-14, Class AO, PO, 12/20/32		94
	1,000	Series 2010-105, Class B, 5.000%, 08/20/40		1,139
	130	Series 2010-130, Class CP, 7.000%, 10/16/40		153
	454	Series 2011-137, Class WA, VAR, 5.534%, 07/20/40		511
	1,541	Series 2011-H19, Class FA, VAR, 0.665%, 08/20/61		1,526
	444	Series 2012-H21, Class DF, VAR, 0.845%, 05/20/61		442
	234	Series 2012-H24, Class FA, VAR, 0.645%, 03/20/60		234
	450	Series 2012-H26, Class MA, VAR, 0.745%, 07/20/62		450
	757	Series 2012-H29, Class FA, VAR, 0.710%, 10/20/62		759
	742	Series 2013-91, Class WA, VAR, 4.508%, 04/20/43		793
	222	Series 2013-H03, Class FA, VAR, 0.495%, 08/20/60		221
	475	Series 2013-H07, Class JA, 1.750%, 03/20/63		476
	906	Series 2014-H15, Class FA, VAR, 0.695%, 07/20/64		897
	807	Series 2014-H17, Class FC, VAR, 0.695%, 07/20/64		800
	953	Series 2014-H19, Class FE, VAR, 0.665%, 09/20/64		940
	2,808	Series 2015-H04, Class FL, VAR, 0.665%, 02/20/65		2,812
	2,909	Series 2015-H12, Class FA, VAR, 0.675%, 05/20/65		2,908
	746	Series 2015-H15, Class FJ, VAR, 0.635%, 06/20/65		734
	2,016	Series 2015-H16, Class FL, VAR, 0.635%, 07/20/65		1,981
	727	Series 2015-H18, Class FA, VAR, 0.645%, 06/20/65		721
	781	Series 2015-H20, Class FA, VAR, 0.665%, 08/20/65		770
	828	Series 2015-H26, Class FG, VAR, 0.715%, 10/20/65		822
	4,500	Series 2015-H29, Class FL, VAR, 0.798%, 11/20/65		4,475
	87	NCUA Guaranteed Notes Trust, Series 2010-R3, Class 3A, 2.400%, 12/08/20		87
		Vendee Mortgage Trust,
	406	Series 1993-1, Class ZB, 7.250%, 02/15/23		457
	193	Series 1994-1, Class 1, VAR, 5.569%, 02/15/24		210

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	288	Series 1996-1, Class 1Z, 6.750%, 02/15/26		331
	96	Series 1996-2, Class 1Z, 6.750%, 06/15/26		109
	384	Series 1997-1, Class 2Z, 7.500%, 02/15/27		448
	93	Series 1998-1, Class 2E, 7.000%, 03/15/28		111
				69,792
		Non-Agency CMO — 2.5%
		Ajax Mortgage Loan Trust,
	409	Series 2014-A, Class A, SUB, 3.750%, 10/25/57 (e)		409
	203	Series 2015-B, Class A, SUB, 3.875%, 07/25/60 (e)		203
		Alternative Loan Trust,
	1,644	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		1,656
	270	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		248
		ASG Resecuritization Trust,
	50	Series 2009-1, Class A60, VAR, 5.629%, 06/26/37 (e)		50
	180	Series 2009-3, Class A65, VAR, 2.088%, 03/26/37 (e)		179
		Banc of America Alternative Loan Trust,
	42	Series 2003-7, Class 2A4, 5.000%, 09/25/18		42
	30	Series 2003-11, Class PO, PO, 01/25/34		26
	28	Banc of America Funding Trust, Series 2004-1, Class PO, PO, 03/25/34		23
		Banc of America Mortgage Trust,
	13	Series 2003-8, Class APO, PO, 11/25/33		11
	8	Series 2004-1, Class APO, PO, 02/25/34		7
	24	Series 2004-3, Class 1A26, 5.500%, 04/25/34		25
	15	Series 2004-6, Class APO, PO, 07/25/34		13
		BCAP LLC Trust,
	291	Series 2010-RR7, Class 2A1, VAR, 2.188%, 07/26/45 (e)		292
	245	Series 2011-RR10, Class 2A1, VAR, 0.997%, 09/26/37 (e)		235
	72	Series 2012-RR2, Class 1A1, VAR, 0.367%, 08/26/36 (e)		71
	82	Bear Stearns ARM Trust, Series 2005-5, Class A1, VAR, 2.320%, 08/25/35		83
		CHL Mortgage Pass-Through Trust,
	57	Series 2004-5, Class 1A4, 5.500%, 06/25/34		59
	26	Series 2004-HYB3, Class 2A, VAR, 2.302%, 06/20/34		25
	273	Series 2005-22, Class 2A1, VAR, 2.706%, 11/25/35		232
		Citigroup Global Markets Mortgage Securities VII, Inc.,
	53	Series 2003-HYB1, Class A, VAR, 2.740%, 09/25/33		53
	1	Series 2003-UP2, Class PO1, PO, 12/25/18		1
		Citigroup Mortgage Loan Trust,
	107	Series 2008-AR4, Class 1A1A, VAR, 2.728%, 11/25/38 (e)		107
	178	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		180
	106	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		107
		Citigroup Mortgage Loan Trust, Inc.,
	9	Series 2003-UP3, Class A3, 7.000%, 09/25/33		9
	17	Series 2003-UST1, Class A1, 5.500%, 12/25/18		18
	2	Series 2003-UST1, Class PO1, PO, 12/25/18		2
	2	Series 2003-UST1, Class PO3, PO, 12/25/18		2
	21	Credit Suisse First Boston Mortgage Securities Corp., Series 2003-23, Class 2A5, 5.000%, 10/25/18		21
		CSMC,
	568	Series 2010-11R, Class A6, VAR, 1.194%, 06/28/47 (e)		549
	45	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		45
	106	Deutsche Alt-A Securities, Inc., Mortgage Loan Trust, Series 2005-3, Class 1A1, VAR, 5.278%, 06/25/20		107
	8	Deutsche Mortgage Securities, Inc., Mortgage Loan Trust, Series 2004-1, Class 2APO, PO, 10/25/18		8
	18	FDIC Trust, Series 2013-N1, Class A, 4.500%, 10/25/18 (e)		18
		First Horizon Mortgage Pass-Through Trust,
	112	Series 2004-AR7, Class 2A2, VAR, 2.587%, 02/25/35		112
	127	Series 2005-AR1, Class 2A2, VAR, 2.608%, 04/25/35		126
	977	FNDUS MARQUIS, 1.003%, 12/01/25		977
	210	GSR Mortgage Loan Trust, Series 2006-1F, Class 1A3, 5.500%, 02/25/36		200

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	44	Impac Secured Assets CMN Owner Trust, Series 2002-2, Class APO, PO, 04/25/33		26
		JP Morgan Mortgage Trust,
	559	Series 2003-A1, Class 1A1, VAR, 2.158%, 10/25/33		548
	54	Series 2006-A2, Class 4A1, VAR, 2.717%, 08/25/34		54
	180	Series 2006-A2, Class 5A3, VAR, 2.681%, 11/25/33		181
		MASTR Adjustable Rate Mortgages Trust,
	39	Series 2004-3, Class 4A2, VAR, 2.380%, 04/25/34		36
	157	Series 2004-13, Class 2A1, VAR, 2.770%, 04/21/34		158
		MASTR Alternative Loan Trust,
	122	Series 2003-9, Class 8A1, 6.000%, 01/25/34		124
	287	Series 2004-4, Class 10A1, 5.000%, 05/25/24		303
	22	Series 2004-7, Class 30PO, PO, 08/25/34		17
	18	Series 2004-10, Class 1A1, 4.500%, 09/25/19		18
	92	Series 2005-6, Class 3A1, 5.500%, 11/25/20		89
		MASTR Asset Securitization Trust,
	24	Series 2003-2, Class 1A1, 5.000%, 03/25/18		24
	4	Series 2004-8, Class PO, PO, 08/25/19		4
	53	MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		42
		Merrill Lynch Mortgage Investors Trust,
	259	Series 2003-E, Class A1, VAR, 0.841%, 10/25/28		247
	94	Series 2004-A, Class A1, VAR, 0.681%, 04/25/29		91
	41	MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 0.861%, 02/25/35		40
	57	NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		57
		Nationstar HECM Loan Trust,
	322	Series 2015-2A, Class A, 2.883%, 11/25/25 (e)		322
	296	Series 2015-2A, Class M1, 4.115%, 11/25/25 (e)		296
		Nomura Asset Acceptance Corp. Alternative Loan Trust,
	30	Series 2003-A1, Class A1, 5.500%, 05/25/33		30
	20	Series 2003-A1, Class A2, 6.000%, 05/25/33		21
	9	Series 2003-A1, Class A5, 7.000%, 04/25/33		10
		RALI Trust,
	56	Series 2002-QS8, Class A5, 6.250%, 06/25/17		57
	11	Series 2002-QS16, Class A3, IF, 16.161%, 10/25/17		12
	19	Series 2003-QS3, Class A2, IF, 16.014%, 02/25/18		20
	71	Series 2003-QS9, Class A3, IF, IO, 7.329%, 05/25/18		4
	94	Series 2004-QS3, Class CB, 5.000%, 03/25/19		95
	102	Reperforming Loan REMIC Trust, Series 2005-R1, Class 2APO, PO, 03/25/35 (e)		85
	7	Residential Asset Securitization Trust, Series 2003-A14, Class A1, 4.750%, 02/25/19		7
		Springleaf Mortgage Loan Trust,
	71	Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		71
	188	Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		188
	125	Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		126
	160	Series 2013-3A, Class A, VAR, 1.870%, 09/25/57 (e)		160
	306	Series 2013-3A, Class M1, VAR, 3.790%, 09/25/57 (e)		310
	87	Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-33H, Class 1A1, 5.500%, 10/25/33		89
	47	Structured Asset Securities Corp. Trust, Series 2005-6, Class 4A1, 5.000%, 05/25/35		47
		WaMu Mortgage Pass-Through Certificates Trust,
	15	Series 2002-S8, Class 2A7, 5.250%, 01/25/18		16
	117	Series 2003-AR5, Class A7, VAR, 2.560%, 06/25/33		119
	60	Series 2004-AR3, Class A2, VAR, 2.460%, 06/25/34		61
	230	Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-4, Class CB7, 5.500%, 06/25/35		218

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
		Washington Mutual MSC Mortgage Pass-Through Certificates Trust,
	34	Series 2003-MS2, Class 1A1, 5.750%, 02/25/33		36
	6	Series 2003-MS7, Class P, PO, 03/25/33		5
	75	Wells Fargo Mortgage Loan Trust, Series 2012-RR1, Class A1, VAR, 2.847%, 08/27/37 (e)		74
		Wells Fargo Mortgage-Backed Securities Trust,
	45	Series 2003-K, Class 1A1, VAR, 2.615%, 11/25/33		46
	75	Series 2004-EE, Class 3A1, VAR, 2.701%, 12/25/34		75
	226	Series 2004-P, Class 2A1, VAR, 2.736%, 09/25/34		227
	368	Series 2005-AR3, Class 1A1, VAR, 2.743%, 03/25/35		370
				11,787
		Total Collateralized Mortgage Obligations (Cost $78,891)		81,579
	Commercial Mortgage-Backed Securities — 2.0%
	292	A10 Securitization LLC, Series 2015-1, Class A1, 2.100%, 04/15/34 (e)		290
		A10 Term Asset Financing LLC,
	280	Series 2013-2, Class A, 2.620%, 11/15/27 (e)		281
	217	Series 2014-1, Class A1, 1.720%, 04/15/33 (e)		216
		Banc of America Commercial Mortgage Trust,
	257	Series 2006-4, Class A4, 5.634%, 07/10/46		259
	255	Series 2007-5, Class A4, 5.492%, 02/10/51		265
	28	Banc of America Merrill Lynch Commercial Mortgage, Inc., Series 2005-3, Class AM, 4.727%, 07/10/43		28
	200	BB-UBS Trust, Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		198
	77	Bear Stearns Commercial Mortgage Securities Trust, Series 2006-PW11, Class A4, VAR, 5.653%, 03/11/39		77
	12,962	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.548%, 12/11/49 (e)		44
		COMM Mortgage Trust,
	500	Series 2012-9W57, Class A, 2.365%, 02/10/29 (e)		505
	423	Series 2014-KYO, Class A, VAR, 1.097%, 06/11/27 (e)		421
	132	Series 2014-PAT, Class A, VAR, 0.996%, 08/13/27 (e)		131
	300	Series 2014-TWC, Class A, VAR, 1.047%, 02/13/32 (e)		298
	281	Series 2015-CR25, Class A4, 3.759%, 08/10/48		290
	29	Commercial Mortgage Pass-Through Certificates, Series 2012-MVP, Class A, VAR, 2.136%, 11/17/26 (e)		29
	402	CSMC, Series 2014-ICE, Class A, VAR, 1.050%, 04/15/27 (e)		400
		Federal Home Loan Mortgage Corp., Multifamily Structured Pass-Through Certificates,
	1,000	Series K037, Class A2, 3.490%, 01/25/24		1,058
	710	Series KF12, Class A, VAR, 0.943%, 09/25/22		710
	500	Series KSMC, Class A2, 2.615%, 01/25/23		505
	9	GMAC Commercial Mortgage Securities, Inc. Trust, Series 2006-C1, Class A4, VAR, 5.238%, 11/10/45		9
	8	LB-UBS Commercial Mortgage Trust, Series 2006-C1, Class A4, 5.156%, 02/15/31		8
	181	Morgan Stanley Re-REMIC Trust, Series 2012-XA, Class A, 2.000%, 07/27/49 (e)		180
	381	NCUA Guaranteed Notes Trust, Series 2010-C1, Class APT, 2.650%, 10/29/20		382
		NorthStar, (Cayman Islands),
	125	Series 2013-1A, Class A, VAR, 2.047%, 08/25/29 (e)		126
	250	Series 2013-1A, Class B, VAR, 5.197%, 08/25/29 (e)		252
	57	ORES NPL LLC, Series 2013-LV2, Class A, 3.081%, 09/25/25 (e)		57
		PFP Ltd., (Cayman Islands),
	345	Series 2015-2, Class A, VAR, 1.646%, 07/14/34 (e)		345
	100	Series 2015-2, Class C, VAR, 3.447%, 07/14/34 (e)		100
	100	Series 2015-2, Class D, VAR, 4.197%, 07/14/34 (e)		100
		RAIT Trust,
	250	Series 2014-FL2, Class B, VAR, 2.347%, 05/13/31 (e)		245
	220	Series 2014-FL3, Class A, VAR, 1.447%, 12/15/31 (e)		220
	390	Series 2015-FL4, Class A, VAR, 1.547%, 12/15/31 (e)		386

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — continued
		Resource Capital Corp., Ltd., (Cayman Islands),
	160	Series 2015-CRE4, Class A, VAR, 1.597%, 08/15/32 (e)		158
	153	Series 2015-CRE4, Class B, VAR, 3.197%, 08/15/32 (e)		151
	116	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		121
	104	UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class A4, 3.525%, 05/10/63		108
	500	VNDO Mortgage Trust, Series 2013-PENN, Class A, 3.808%, 12/13/29 (e)		528
	56	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		56
		Total Commercial Mortgage-Backed Securities (Cost $9,515)		9,537
	Corporate Bonds — 17.9%
		Consumer Discretionary — 1.0%
		Auto Components — 0.0% (g)
	99	Johnson Controls, Inc., 3.750%, 12/01/21		100
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	150	1.875%, 01/11/18 (e)		149
	150	2.625%, 09/15/16 (e)		152
				301
		Hotels, Restaurants & Leisure — 0.0% (g)
	65	Starbucks Corp., 2.700%, 06/15/22		66
		Internet & Catalog Retail — 0.1%
	197	Amazon.com, Inc., 3.800%, 12/05/24		205
		Media — 0.6%
		21st Century Fox America, Inc.,
	100	7.250%, 05/18/18		112
	100	7.700%, 10/30/25		127
		CBS Corp.,
	50	3.375%, 03/01/22		50
	94	3.700%, 08/15/24		92
	208	4.000%, 01/15/26		206
	80	Comcast Corp., 3.375%, 08/15/25		82
		DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.,
	353	3.800%, 03/15/22		361
	26	3.950%, 01/15/25		26
	150	4.600%, 02/15/21		161
	78	Discovery Communications LLC, 4.375%, 06/15/21		81
	550	NBCUniversal Media LLC, 2.875%, 01/15/23		551
		Thomson Reuters Corp., (Canada),
	51	3.850%, 09/29/24		50
	105	3.950%, 09/30/21		109
	60	4.700%, 10/15/19		65
		Time Warner Cable, Inc.,
	57	5.850%, 05/01/17		60
	50	6.750%, 07/01/18		55
	150	8.250%, 04/01/19		173
	35	8.750%, 02/14/19		41
	100	Time Warner Cos., Inc., 7.570%, 02/01/24		124
	300	Time Warner, Inc., 3.600%, 07/15/25		297
		Viacom, Inc.,
	37	2.750%, 12/15/19		37
	100	3.125%, 06/15/22		94
	11	3.250%, 03/15/23		10
	43	3.875%, 12/15/21		43
	6	6.250%, 04/30/16		6
	42	Walt Disney Co. (The), 0.450%, 12/01/15		42
				3,055
		Multiline Retail — 0.1%
		Macy’s Retail Holdings, Inc.,
	37	2.875%, 02/15/23		34
	49	4.375%, 09/01/23		50
	25	7.450%, 07/15/17		27
	35	Nordstrom, Inc., 4.000%, 10/15/21		37
	400	Target Corp., 6.000%, 01/15/18		438
				586
		Specialty Retail — 0.1%
	32	Bed Bath & Beyond, Inc., 4.915%, 08/01/34		29
	56	Gap, Inc. (The), 5.950%, 04/12/21		59
		Home Depot, Inc. (The),
	67	2.625%, 06/01/22		67
	130	5.400%, 03/01/16		131
	119	Lowe’s Cos., Inc., 3.375%, 09/15/25		121
				407
		Total Consumer Discretionary		4,720
		Consumer Staples — 0.7%
		Beverages — 0.2%
	75	Anheuser-Busch Cos. LLC, 5.500%, 01/15/18		81
	150	Anheuser-Busch InBev Finance, Inc., 3.700%, 02/01/24		153

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Beverages — continued
	36	Anheuser-Busch InBev Worldwide, Inc., 7.750%, 01/15/19		42
	70	Diageo Capital plc, (United Kingdom), 4.828%, 07/15/20		77
	30	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		30
		PepsiCo, Inc.,
	180	1.250%, 08/13/17		180
	31	3.000%, 08/25/21		32
	111	3.100%, 07/17/22		114
	6	7.900%, 11/01/18		7
	200	SABMiller Holdings, Inc., 3.750%, 01/15/22 (e)		206
				922
		Food & Staples Retailing — 0.2%
	86	Costco Wholesale Corp., 2.250%, 02/15/22		85
		CVS Health Corp.,
	178	3.500%, 07/20/22		183
	179	4.000%, 12/05/23		188
	51	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		56
		Kroger Co. (The),
	50	2.200%, 01/15/17		50
	90	4.000%, 02/01/24		94
	30	6.150%, 01/15/20		34
	75	6.400%, 08/15/17		81
	100	Sysco Corp., 3.750%, 10/01/25		102
	94	Walgreen Co., 3.100%, 09/15/22		91
	91	Walgreens Boots Alliance, Inc., 3.300%, 11/18/21		91
				1,055
		Food Products — 0.3%
	135	Bunge Ltd. Finance Corp., 8.500%, 06/15/19		158
	14	Bunge N.A. Finance LP, 5.900%, 04/01/17		15
		Cargill, Inc.,
	100	3.300%, 03/01/22 (e)		101
	106	4.307%, 05/14/21 (e)		114
	24	ConAgra Foods, Inc., 2.100%, 03/15/18		24
		Kraft Foods Group, Inc.,
	30	3.500%, 06/06/22		30
	22	5.375%, 02/10/20		24
	332	6.125%, 08/23/18		367
	66	Kraft Heinz Foods Co., 5.000%, 07/15/35 (e)		68
	92	Mead Johnson Nutrition Co., 2.650%, 11/03/22		93
	150	Mondelez International, Inc., 4.000%, 02/01/24		155
	73	Tyson Foods, Inc., 3.950%, 08/15/24		75
				1,224
		Household Products — 0.0% (g)
	20	Kimberly-Clark Corp., 2.400%, 03/01/22		20
	54	Procter & Gamble - ESOP, Series A, 9.360%, 01/01/21		64
				84
		Total Consumer Staples		3,285
		Energy — 1.7%
		Energy Equipment & Services — 0.1%
	14	Cameron International Corp., 4.000%, 12/15/23		14
	9	Ensco plc, (United Kingdom), 5.200%, 03/15/25		7
		Halliburton Co.,
	153	3.375%, 11/15/22		154
	107	3.500%, 08/01/23		107
		Nabors Industries, Inc.,
	30	4.625%, 09/15/21		27
	30	5.000%, 09/15/20		29
	15	National Oilwell Varco, Inc., 1.350%, 12/01/17		15
		Noble Holding International Ltd., (Cayman Islands),
	12	3.950%, 03/15/22		9
	18	4.000%, 03/16/18		17
	47	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		48
		Transocean, Inc., (Cayman Islands),
	39	4.300%, 10/15/22		25
	57	6.500%, 11/15/20		45
	78	6.875%, 12/15/21		58
	33	Weatherford International Ltd., (Bermuda), 4.500%, 04/15/22		26
				581
		Oil, Gas & Consumable Fuels — 1.6%
		Apache Corp.,
	42	3.250%, 04/15/22		42
	25	6.900%, 09/15/18		28
	29	Boardwalk Pipelines LP, 4.950%, 12/15/24		26
		BP Capital Markets plc, (United Kingdom),
	20	1.375%, 11/06/17		20
	233	2.237%, 05/10/19		233
	256	2.750%, 05/10/23		248

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Oil, Gas & Consumable Fuels — continued
	60	3.506%, 03/17/25		60
	166	3.814%, 02/10/24		171
		Buckeye Partners LP,
	30	4.350%, 10/15/24		27
	40	4.875%, 02/01/21		40
	25	5.850%, 11/15/43		20
		Canadian Natural Resources Ltd., (Canada),
	25	3.900%, 02/01/25		23
	150	5.900%, 02/01/18		160
	21	Cenovus Energy, Inc., (Canada), 3.000%, 08/15/22		19
	40	Chevron Corp., 2.355%, 12/05/22		39
	200	CNOOC Nexen Finance 2014 ULC, (Canada), 4.250%, 04/30/24		205
	150	ConocoPhillips, 5.750%, 02/01/19		167
	190	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		197
	41	ConocoPhillips Co., 2.200%, 05/15/20		41
	190	Devon Energy Corp., 6.300%, 01/15/19		210
	58	Ecopetrol S.A., (Colombia), 4.125%, 01/16/25		50
	80	Encana Corp., (Canada), 6.500%, 05/15/19		86
		Energy Transfer Partners LP,
	89	3.600%, 02/01/23		78
	91	4.750%, 01/15/26		81
	200	Eni S.p.A., (Italy), 4.150%, 10/01/20 (e)		209
	74	EnLink Midstream Partners LP, 4.150%, 06/01/25		65
		Enterprise Products Operating LLC,
	500	1.650%, 05/07/18		493
	37	3.750%, 02/15/25		35
	49	3.900%, 02/15/24		48
		EOG Resources, Inc.,
	23	2.625%, 03/15/23		22
	100	4.100%, 02/01/21		107
	250	Gulf South Pipeline Co. LP, 4.000%, 06/15/22		234
	50	Magellan Midstream Partners LP, 6.550%, 07/15/19		56
		Marathon Oil Corp.,
	228	5.900%, 03/15/18		244
	175	6.000%, 10/01/17		185
	67	Marathon Petroleum Corp., 3.625%, 09/15/24		65
		Noble Energy, Inc.,
	68	5.625%, 05/01/21		69
	52	5.875%, 06/01/22		52
		Occidental Petroleum Corp.,
	35	1.750%, 02/15/17		35
	91	3.500%, 06/15/25		92
		ONEOK Partners LP,
	80	3.800%, 03/15/20		78
	200	4.900%, 03/15/25		181
		Petrobras Global Finance B.V., (Netherlands),
	84	4.375%, 05/20/23		58
	90	5.375%, 01/27/21		71
	295	6.250%, 03/17/24		232
	50	7.875%, 03/15/19		46
	97	Petro-Canada, (Canada), 6.050%, 05/15/18		105
		Petroleos Mexicanos, (Mexico),
	59	4.250%, 01/15/25 (e)		55
	69	4.875%, 01/18/24		68
	43	Phillips 66, 2.950%, 05/01/17		44
		Plains All American Pipeline LP/PAA Finance Corp.,
	59	2.600%, 12/15/19		56
	100	3.600%, 11/01/24		87
	250	4.650%, 10/15/25		235
	200	Sinopec Group Overseas Development 2013 Ltd., (United Kingdom), 4.375%, 10/17/23 (e)		209
		Spectra Energy Capital LLC,
	150	5.650%, 03/01/20		160
	140	6.200%, 04/15/18		149
	50	8.000%, 10/01/19		57
		Spectra Energy Partners LP,
	79	2.950%, 09/25/18		79
	63	3.500%, 03/15/25		58
		Statoil ASA, (Norway),
	143	2.650%, 01/15/24		138
	42	2.750%, 11/10/21		42
	67	3.125%, 08/17/17		69
	83	3.150%, 01/23/22		84
	180	Sunoco Logistics Partners Operations LP, 4.650%, 02/15/22		171
	50	Talisman Energy, Inc., (Canada), 7.750%, 06/01/19		54
		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

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Oil, Gas & Consumable Fuels — continued
	150	2.750%, 06/19/21		151
	175	Total Capital S.A., (France), 2.300%, 03/15/16		176
		TransCanada PipeLines Ltd., (Canada),
	172	3.750%, 10/16/23		172
	100	6.500%, 08/15/18		111
	30	7.125%, 01/15/19		34
				7,659
		Total Energy		8,240
		Financials — 9.3%
		Banks — 3.8%
		ABN AMRO Bank N.V., (Netherlands),
	200	1.800%, 06/04/18 (e)		199
	200	2.500%, 10/30/18 (e)		202
	200	ANZ New Zealand International Ltd., (New Zealand), 2.600%, 09/23/19 (e)		201
	250	Australia & New Zealand Banking Group Ltd., (Australia), 2.400%, 11/23/16 (e)		254
		Bank of America Corp.,
	150	3.300%, 01/11/23		150
	200	3.875%, 03/22/17		206
	485	3.875%, 08/01/25		496
	42	4.100%, 07/24/23		44
	100	5.000%, 05/13/21		110
	130	5.625%, 07/01/20		146
	170	5.750%, 12/01/17		183
	50	5.875%, 01/05/21		57
	814	6.400%, 08/28/17		879
	100	6.500%, 08/01/16		104
	266	6.875%, 04/25/18		296
	208	Series L, 1.950%, 05/12/18		209
	200	Series L, 2.250%, 04/21/20		197
	154	Series L, 3.950%, 04/21/25		152
	300	Series L, 5.650%, 05/01/18		325
	85	Bank of Montreal, (Canada), 2.550%, 11/06/22		84
		Bank of Nova Scotia (The), (Canada),
	175	1.450%, 04/25/18		174
	200	1.700%, 06/11/18		200
	200	Banque Federative du Credit Mutuel S.A., (France), 1.700%, 01/20/17 (e)		200
	250	Barclays Bank plc, (United Kingdom), 6.050%, 12/04/17 (e)		268
	317	Barclays plc, (United Kingdom), 2.875%, 06/08/20		318
		BB&T Corp.,
	225	2.625%, 06/29/20		227
	125	3.950%, 04/29/16		127
	100	5.250%, 11/01/19		110
	234	Canadian Imperial Bank of Commerce, (Canada), 2.250%, 07/21/20 (e)		234
	300	Capital One Bank USA N.A., 3.375%, 02/15/23		296
	250	Capital One N.A., 2.350%, 08/17/18		250
		Citigroup, Inc.,
	650	1.700%, 04/27/18		647
	106	1.800%, 02/05/18		106
	82	2.150%, 07/30/18		82
	350	2.400%, 02/18/20		349
	73	3.750%, 06/16/24		75
	115	5.500%, 09/13/25		126
	13	6.000%, 08/15/17		14
	300	6.125%, 11/21/17		326
	16	Comerica, Inc., 3.800%, 07/22/26		16
	250	Commonwealth Bank of Australia, (Australia), 2.250%, 03/16/17 (e)		253
		Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., (Netherlands),
	34	3.375%, 01/19/17		35
	118	3.875%, 02/08/22		125
	250	4.375%, 08/04/25		255
	250	Discover Bank, 2.600%, 11/13/18		251
		Fifth Third Bancorp,
	146	2.875%, 07/27/20		147
	350	5.450%, 01/15/17		365
		HSBC Holdings plc, (United Kingdom),
	196	4.000%, 03/30/22		207
	200	4.250%, 08/18/25		201
	300	4.875%, 01/14/22		331
		Huntington National Bank (The),
	250	2.000%, 06/30/18		249
	250	2.875%, 08/20/20		250
		KeyCorp,
	56	2.900%, 09/15/20		56
	50	5.100%, 03/24/21		55
	200	Lloyds Bank plc, (United Kingdom), 1.750%, 03/16/18		200
	300	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		327
	200	Mizuho Bank Ltd., (Japan), 2.650%, 09/25/19 (e)		201

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Banks — continued
	36	MUFG Americas Holdings Corp., 2.250%, 02/10/20		36
	300	Nordea Bank AB, (Sweden), 3.125%, 03/20/17 (e)		307
		PNC Funding Corp.,
	133	4.375%, 08/11/20		145
	265	5.125%, 02/08/20		294
	115	5.625%, 02/01/17		120
		Royal Bank of Canada, (Canada),
	105	1.200%, 01/23/17		105
	150	1.875%, 02/05/20		149
	239	2.000%, 10/01/18		241
	125	2.200%, 07/27/18		126
	95	2.300%, 07/20/16		96
	250	Stadshypotek AB, (Sweden), 1.875%, 10/02/19 (e)		248
	200	Standard Chartered plc, (United Kingdom), 5.200%, 01/26/24 (e)		208
		Toronto-Dominion Bank (The), (Canada),
	200	1.500%, 03/13/17 (e)		201
	37	1.625%, 03/13/18		37
	104	2.250%, 11/05/19		104
	250	U.S. Bank N.A., 2.800%, 01/27/25		244
	850	Wachovia Corp., 5.750%, 02/01/18		924
		Wells Fargo & Co.,
	130	2.600%, 07/22/20		131
	99	3.000%, 02/19/25		96
	51	4.300%, 07/22/27		53
	237	4.480%, 01/16/24		251
	415	5.625%, 12/11/17		449
	500	SUB, 3.676%, 06/15/16		508
	250	Wells Fargo Bank N.A., 6.000%, 11/15/17		271
	285	Westpac Banking Corp., (Australia), 4.875%, 11/19/19		312
				17,803
		Capital Markets — 1.9%
	120	Ameriprise Financial, Inc., 4.000%, 10/15/23		126
		Bank of New York Mellon Corp. (The),
	229	2.600%, 08/17/20		231
	150	3.250%, 09/11/24		151
	100	3.650%, 02/04/24		104
	75	4.600%, 01/15/20		82
	326	BlackRock, Inc., Series 2, 5.000%, 12/10/19		362
	150	Blackstone Holdings Finance Co. LLC, 5.875%, 03/15/21 (e)		172
	40	Charles Schwab Corp. (The), 3.225%, 09/01/22		41
	250	Credit Suisse AG, (Switzerland), 1.700%, 04/27/18		250
		Deutsche Bank AG, (Germany),
	319	1.875%, 02/13/18		318
	100	2.950%, 08/20/20		100
		Goldman Sachs Group, Inc. (The),
	48	2.600%, 04/23/20		48
	68	2.625%, 01/31/19		69
	117	2.750%, 09/15/20		118
	255	3.625%, 02/07/16		256
	137	3.750%, 05/22/25		139
	120	4.000%, 03/03/24		124
	68	5.375%, 03/15/20		76
	80	5.750%, 01/24/22		92
	1,100	5.950%, 01/18/18		1,194
	250	7.500%, 02/15/19		291
	200	ING Bank N.V., (Netherlands), 3.750%, 03/07/17 (e)		206
		Invesco Finance plc, (United Kingdom),
	125	3.750%, 01/15/26		127
	71	4.000%, 01/30/24		74
		Jefferies Group LLC,
	150	5.125%, 04/13/18		157
	125	6.875%, 04/15/21		141
		Macquarie Bank Ltd., (Australia),
	100	2.850%, 07/29/20 (e)		101
	100	4.000%, 07/29/25 (e)		102
	356	5.000%, 02/22/17 (e)		370
		Macquarie Group Ltd., (Australia),
	150	6.000%, 01/14/20 (e)		166
	40	6.250%, 01/14/21 (e)		45
		Morgan Stanley,
	40	2.650%, 01/27/20		40
	284	2.800%, 06/16/20		287
	83	3.700%, 10/23/24		84
	62	3.950%, 04/23/27		61
	330	4.000%, 07/23/25		343
	93	5.000%, 11/24/25		100
	166	5.500%, 07/24/20		187
	100	5.500%, 07/28/21		113
	450	5.625%, 09/23/19		501
	100	5.750%, 01/25/21		114
	100	6.625%, 04/01/18		111

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Capital Markets — continued
	100	7.300%, 05/13/19		116
		Nomura Holdings, Inc., (Japan),
	85	4.125%, 01/19/16		85
	84	6.700%, 03/04/20		97
		State Street Corp.,
	36	3.100%, 05/15/23		36
	294	3.550%, 08/18/25		303
	192	3.700%, 11/20/23		200
	34	TD Ameritrade Holding Corp., 2.950%, 04/01/22		34
		UBS AG, (Switzerland),
	100	5.750%, 04/25/18		109
	100	5.875%, 12/20/17		108
				8,862
		Consumer Finance — 1.2%
	500	American Express Co., 7.000%, 03/19/18		558
		American Express Credit Corp.,
	261	1.800%, 07/31/18		261
	139	2.800%, 09/19/16		141
	95	Series F, 2.600%, 09/14/20		95
		American Honda Finance Corp.,
	200	2.125%, 02/28/17 (e)		202
	83	2.250%, 08/15/19		84
		Capital One Financial Corp.,
	125	3.200%, 02/05/25		120
	110	3.500%, 06/15/23		111
		Caterpillar Financial Services Corp.,
	250	1.000%, 11/25/16		251
	206	2.250%, 12/01/19		207
	58	2.850%, 06/01/22		58
	100	5.500%, 03/15/16		101
	65	7.050%, 10/01/18		74
	100	7.150%, 02/15/19		116
		Ford Motor Credit Co. LLC,
	200	2.240%, 06/15/18		199
	550	2.375%, 03/12/19		542
	200	3.000%, 06/12/17		202
	250	3.157%, 08/04/20		250
	200	4.250%, 09/20/22		208
	130	General Motors Financial Co., Inc., 3.100%, 01/15/19		130
		HSBC USA, Inc.,
	200	1.700%, 03/05/18		199
	180	2.350%, 03/05/20		179
	296	2.750%, 08/07/20		298
		John Deere Capital Corp.,
	400	2.375%, 07/14/20		401
	50	2.450%, 09/11/20		50
	33	3.150%, 10/15/21		34
	73	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		73
		PACCAR Financial Corp.,
	39	1.400%, 05/18/18		39
	66	1.600%, 03/15/17		66
		Toyota Motor Credit Corp.,
	100	1.375%, 01/10/18		100
	225	1.750%, 05/22/17		227
	200	2.000%, 09/15/16		202
	105	2.100%, 01/17/19		106
				5,884
		Diversified Financial Services — 1.3%
	425	Bank of America N.A., 5.300%, 03/15/17		444
		Berkshire Hathaway, Inc.,
	638	3.400%, 01/31/22		673
	98	3.750%, 08/15/21		105
	397	CME Group, Inc., 3.000%, 03/15/25		392
	25	Countrywide Financial Corp., 6.250%, 05/15/16		26
		GE Capital International Funding Co., (Ireland),
	596	0.964%, 04/15/16 (e)		597
	649	2.342%, 11/15/20 (e)		647
		General Electric Capital Corp.,
	17	1.000%, 12/11/15		17
	200	3.100%, 01/09/23		204
	220	4.375%, 09/16/20		241
	230	4.650%, 10/17/21		256
	500	5.400%, 02/15/17		527
	140	5.500%, 01/08/20		159
		Intercontinental Exchange, Inc.,
	47	2.500%, 10/15/18		48
	88	4.000%, 10/15/23		91
		Private Export Funding Corp.,
	500	Series EE, 2.800%, 05/15/22		508
	200	Series KK, 3.550%, 01/15/24		213
		Shell International Finance B.V., (Netherlands),
	42	1.125%, 08/21/17		42
	367	2.125%, 05/11/20		366
	100	3.250%, 05/11/25		99

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Diversified Financial Services — continued
	195	4.375%, 03/25/20		212
		Siemens Financieringsmaatschappij N.V., (Netherlands),
	250	2.900%, 05/27/22 (e)		251
	100	5.750%, 10/17/16 (e)		104
				6,222
		Insurance — 0.6%
		ACE INA Holdings, Inc.,
	200	2.700%, 03/13/23		195
	130	2.875%, 11/03/22		129
	61	Allstate Corp. (The), 3.150%, 06/15/23		61
		American International Group, Inc.,
	161	3.750%, 07/10/25		161
	259	4.125%, 02/15/24		270
		Berkshire Hathaway Finance Corp.,
	65	1.300%, 05/15/18		65
	150	5.400%, 05/15/18		164
	90	CNA Financial Corp., 3.950%, 05/15/24		90
	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		37
		MassMutual Global Funding II,
	300	2.000%, 04/05/17 (e)		303
	100	3.125%, 04/14/16 (e)		101
		Metropolitan Life Global Funding I,
	207	1.500%, 01/10/18 (e)		207
	175	3.650%, 06/14/18 (e)		183
	100	3.875%, 04/11/22 (e)		105
	323	New York Life Global Funding, 2.150%, 06/18/19 (e)		323
	150	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		156
	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)		107
	150	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		197
				3,034
		Real Estate Investment Trusts (REITs) — 0.5%
		American Tower Corp.,
	80	3.500%, 01/31/23		78
	38	5.000%, 02/15/24		41
		American Tower Trust I,
	45	1.551%, 03/15/18 (e)		44
	200	3.070%, 03/15/23 (e)		195
		Equity Commonwealth,
	125	5.875%, 09/15/20		135
	150	6.650%, 01/15/18		159
	427	ERP Operating LP, 4.625%, 12/15/21		466
		HCP, Inc.,
	52	2.625%, 02/01/20		52
	38	3.400%, 02/01/25		35
	115	3.875%, 08/15/24		112
	17	4.200%, 03/01/24		17
	38	4.250%, 11/15/23		38
		Prologis LP,
	38	3.750%, 11/01/25		38
	53	4.250%, 08/15/23		56
	50	Realty Income Corp., 3.875%, 07/15/24		50
		Simon Property Group LP,
	100	2.500%, 09/01/20		101
	62	3.375%, 10/01/24		62
	38	3.750%, 02/01/24		39
	81	4.125%, 12/01/21		87
	90	4.375%, 03/01/21		98
	50	6.125%, 05/30/18		56
		Ventas Realty LP,
	27	3.500%, 02/01/25		26
	44	3.750%, 05/01/24		43
	62	4.125%, 01/15/26		62
	73	Welltower, Inc., 4.500%, 01/15/24		75
				2,165
		Total Financials		43,970
		Health Care — 0.7%
		Biotechnology — 0.2%
		Amgen, Inc.,
	44	2.125%, 05/01/20		44
	400	3.875%, 11/15/21		421
	40	5.700%, 02/01/19		44
	75	Baxalta, Inc., 3.600%, 06/23/22 (e)		75
	184	Biogen, Inc., 3.625%, 09/15/22		187
		Celgene Corp.,
	98	3.250%, 08/15/22		98
	161	3.625%, 05/15/24		160
		Gilead Sciences, Inc.,
	59	3.250%, 09/01/22		60

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Biotechnology — continued
	57	3.500%, 02/01/25		57
				1,146
		Health Care Equipment & Supplies — 0.0% (g)
	40	Becton, Dickinson & Co., 5.000%, 05/15/19		43
		Health Care Providers & Services — 0.2%
		Anthem, Inc.,
	93	2.300%, 07/15/18		94
	115	3.125%, 05/15/22		113
		Cardinal Health, Inc.,
	45	2.400%, 11/15/19		45
	49	3.750%, 09/15/25		50
	72	Express Scripts Holding Co., 3.500%, 06/15/24		72
	214	Laboratory Corp. of America Holdings, 3.200%, 02/01/22		211
	17	McKesson Corp., 0.950%, 12/04/15		17
		UnitedHealth Group, Inc.,
	91	1.900%, 07/16/18		92
	70	3.350%, 07/15/22		72
	112	3.375%, 11/15/21		116
				882
		Life Sciences Tools & Services — 0.0% (g)
		Thermo Fisher Scientific, Inc.,
	22	1.300%, 02/01/17		22
	69	4.150%, 02/01/24		72
				94
		Pharmaceuticals — 0.3%
		AbbVie, Inc.,
	119	1.750%, 11/06/17		119
	127	2.500%, 05/14/20		126
	87	2.900%, 11/06/22		85
	35	3.200%, 11/06/22		35
	100	Allergan, Inc., 2.800%, 03/15/23		96
		Forest Laboratories LLC,
	250	4.375%, 02/01/19 (e)		263
	69	5.000%, 12/15/21 (e)		76
	150	GlaxoSmithKline Capital plc, (United Kingdom), 2.850%, 05/08/22		151
		Merck & Co., Inc.,
	75	1.300%, 05/18/18		75
	64	2.350%, 02/10/22		63
	62	2.400%, 09/15/22		61
	30	3.700%, 02/10/45		28
				1,178
		Total Health Care		3,343
		Industrials — 0.9%
		Aerospace & Defense — 0.1%
	43	Airbus Group Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		42
		BAE Systems Holdings, Inc.,
	68	3.800%, 10/07/24 (e)		68
	70	6.375%, 06/01/19 (e)		78
	100	Honeywell International, Inc., 5.300%, 03/01/18		109
		Lockheed Martin Corp.,
	47	2.125%, 09/15/16		48
	74	3.100%, 01/15/23		74
		Precision Castparts Corp.,
	43	0.700%, 12/20/15		43
	140	3.250%, 06/15/25		139
				601
		Air Freight & Logistics — 0.2%
	511	Federal Express Corp. 1998 Pass-Through Trust, 6.720%, 01/15/22		578
	115	United Parcel Service of America, Inc., 8.375%, 04/01/20		144
				722
		Airlines — 0.1%
	174	American Airlines 2013-2 Class A Pass-Through Trust, 4.950%, 01/15/23		185
	25	Continental Airlines 1999-2 Class A-1 Pass-Through Trust, 7.256%, 03/15/20		27
	47	Delta Air Lines 2010-2 Class A Pass-Through Trust, 4.950%, 05/23/19		49
				261
		Commercial Services & Supplies — 0.0% (g)
	70	ADT Corp. (The), 3.500%, 07/15/22		64
	50	Pitney Bowes, Inc., 5.600%, 03/15/18		53
				117
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	32	1.625%, 05/08/17		32
	41	2.875%, 05/08/22		41
	70	Fluor Corp., 3.375%, 09/15/21		72
				145
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	27	1.500%, 11/02/17		27
	50	5.600%, 05/15/18		54
				81

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Industrial Conglomerates — 0.1%
	84	Danaher Corp., 2.400%, 09/15/20		84
	175	General Electric Co., 3.375%, 03/11/24		182
	34	Ingersoll-Rand Global Holding Co., Ltd., 4.250%, 06/15/23		35
	152	Koninklijke Philips N.V., (Netherlands), 3.750%, 03/15/22		157
	98	Pentair Finance S.A., (Luxembourg), 2.900%, 09/15/18		98
	62	Roper Technologies, Inc., 3.000%, 12/15/20		62
	32	Tyco International Finance S.A., (Luxembourg), 3.900%, 02/14/26		32
				650
		Machinery — 0.1%
		Caterpillar, Inc.,
	74	1.500%, 06/26/17		75
	31	2.600%, 06/26/22		30
	89	Deere & Co., 2.600%, 06/08/22		88
	25	Parker-Hannifin Corp., 5.500%, 05/15/18		27
				220
		Road & Rail — 0.3%
		Burlington Northern Santa Fe LLC,
	43	3.050%, 03/15/22		43
	32	3.450%, 09/15/21		33
	19	3.600%, 09/01/20		20
	100	3.750%, 04/01/24		103
	100	5.650%, 05/01/17		106
	55	Canadian Pacific Railway Co., (Canada), 4.500%, 01/15/22		59
		CSX Corp.,
	100	3.400%, 08/01/24		100
	30	7.375%, 02/01/19		35
	50	7.900%, 05/01/17		54
		ERAC USA Finance LLC,
	27	4.500%, 08/16/21 (e)		28
	48	5.250%, 10/01/20 (e)		53
		Norfolk Southern Corp.,
	138	3.250%, 12/01/21		138
	50	7.700%, 05/15/17		55
		Penske Truck Leasing Co. LP/PTL Finance Corp.,
	53	2.875%, 07/17/18 (e)		53
	141	3.375%, 02/01/22 (e)		138
		Ryder System, Inc.,
	48	2.500%, 03/01/17		48
	28	2.500%, 05/11/20		28
	86	2.875%, 09/01/20		86
	55	3.600%, 03/01/16		55
		Union Pacific Corp.,
	21	2.950%, 01/15/23		21
	75	3.646%, 02/15/24		79
	233	4.163%, 07/15/22		253
				1,588
		Trading Companies & Distributors — 0.0% (g)
	55	WW Grainger, Inc., 4.600%, 06/15/45		57
		Total Industrials		4,442
		Information Technology — 1.1%
		Communications Equipment — 0.1%
		Cisco Systems, Inc.,
	55	2.900%, 03/04/21		57
	194	3.000%, 06/15/22		198
	44	3.500%, 06/15/25		45
				300
		Electronic Equipment, Instruments & Components — 0.0% (g)
		Arrow Electronics, Inc.,
	32	3.000%, 03/01/18		32
	16	4.500%, 03/01/23		16
	100	6.875%, 06/01/18		110
	63	7.500%, 01/15/27		75
				233
		Internet Software & Services — 0.1%
	410	eBay, Inc., 2.600%, 07/15/22		384
		IT Services — 0.3%
		International Business Machines Corp.,
	126	1.250%, 02/08/18		125
	309	1.625%, 05/15/20		304
	350	7.625%, 10/15/18		407
		Xerox Corp.,
	39	2.950%, 03/15/17		40
	450	5.625%, 12/15/19		481
	40	6.750%, 02/01/17		42
				1,399
		Semiconductors & Semiconductor Equipment — 0.0% (g)
	130	Intel Corp., 3.700%, 07/29/25		135
	30	National Semiconductor Corp., 6.600%, 06/15/17		33
	73	Texas Instruments, Inc., 1.650%, 08/03/19		72
				240
		Software — 0.2%
	25	Intuit, Inc., 5.750%, 03/15/17		27

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Software — continued
		Microsoft Corp.,
	23	0.875%, 11/15/17		23
	34	2.125%, 11/15/22		33
	50	2.375%, 02/12/22		50
	118	2.375%, 05/01/23		116
	167	3.625%, 12/15/23		177
		Oracle Corp.,
	200	3.625%, 07/15/23		208
	200	5.250%, 01/15/16		201
	100	5.750%, 04/15/18		110
				945
		Technology Hardware, Storage & Peripherals — 0.4%
		Apple, Inc.,
	273	2.150%, 02/09/22		268
	199	2.400%, 05/03/23		194
	250	2.700%, 05/13/22		251
	201	2.850%, 05/06/21		206
	513	3.200%, 05/13/25		520
	207	VAR, 0.584%, 05/03/18		207
		HP, Inc.,
	118	4.375%, 09/15/21		119
	45	4.650%, 12/09/21		45
				1,810
		Total Information Technology		5,311
		Materials — 0.4%
		Chemicals — 0.2%
		Agrium, Inc., (Canada),
	45	3.375%, 03/15/25		42
	100	4.125%, 03/15/35		86
	125	CF Industries, Inc., 7.125%, 05/01/20		143
		Dow Chemical Co. (The),
	100	3.500%, 10/01/24		97
	119	4.125%, 11/15/21		126
	20	8.550%, 05/15/19		24
		Mosaic Co. (The),
	34	3.750%, 11/15/21		34
	212	4.250%, 11/15/23		213
	25	Potash Corp. of Saskatchewan, Inc., (Canada), 3.250%, 12/01/17		26
	41	Praxair, Inc., 2.650%, 02/05/25		40
	150	Union Carbide Corp., 7.500%, 06/01/25		179
				1,010
		Construction Materials — 0.1%
	200	CRH America, Inc., 3.875%, 05/18/25 (e)		200
		Metals & Mining — 0.1%
		BHP Billiton Finance USA Ltd., (Australia),
	95	3.850%, 09/30/23		94
	100	5.400%, 03/29/17		105
	100	6.500%, 04/01/19		112
		Freeport-McMoRan, Inc.,
	128	2.150%, 03/01/17		121
	107	3.875%, 03/15/23		72
	27	Nucor Corp., 4.000%, 08/01/23		27
	27	Rio Tinto Finance USA Ltd., (Australia), 3.500%, 11/02/20		28
	58	Rio Tinto Finance USA plc, (United Kingdom), 1.625%, 08/21/17		57
				616
		Total Materials		1,826
		Telecommunication Services — 0.9%
		Diversified Telecommunication Services — 0.8%
		AT&T, Inc.,
	85	2.450%, 06/30/20		84
	490	3.000%, 06/30/22		485
	28	3.400%, 05/15/25		27
	50	3.875%, 08/15/21		52
	50	4.450%, 05/15/21		54
	180	5.500%, 02/01/18		194
	350	Bellsouth Capital Funding Corp., 7.875%, 02/15/30		419
	14	BellSouth Telecommunications LLC, 6.300%, 12/15/15		14
	100	British Telecommunications plc, (United Kingdom), 5.950%, 01/15/18		109
		GTP Acquisition Partners I LLC,
	174	2.350%, 06/15/20 (e)		170
	202	3.482%, 06/16/25 (e)		199
	27	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		27
	61	Orange S.A., (France), 2.750%, 09/14/16		62
	148	Qwest Corp., 6.750%, 12/01/21		155
	31	Telefonica Emisiones S.A.U., (Spain), 5.134%, 04/27/20		34
		Verizon Communications, Inc.,
	115	2.625%, 02/21/20		116
	179	3.000%, 11/01/21		179
	295	3.500%, 11/01/24		296
	156	4.150%, 03/15/24		164
	353	4.500%, 09/15/20		383
	222	5.150%, 09/15/23		248
	200	6.400%, 09/15/33		233

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Diversified Telecommunication Services — continued
	176	Verizon New England, Inc., 7.875%, 11/15/29		219
				3,923
		Wireless Telecommunication Services — 0.1%
	160	Rogers Communications, Inc., (Canada), 4.100%, 10/01/23		166
		Vodafone Group plc, (United Kingdom),
	100	1.500%, 02/19/18		100
	100	1.625%, 03/20/17		100
				366
		Total Telecommunication Services		4,289
		Utilities — 1.2%
		Electric Utilities — 0.8%
	27	American Electric Power Co., Inc., 1.650%, 12/15/17		27
	27	Arizona Public Service Co., 2.200%, 01/15/20		27
	43	Baltimore Gas & Electric Co., 2.800%, 08/15/22		42
	50	Cleveland Electric Illuminating Co. (The), Series D, 7.880%, 11/01/17		55
	30	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		33
	20	DTE Electric Co., 2.650%, 06/15/22		20
	285	Duke Energy Corp., 3.550%, 09/15/21		294
	60	Duke Energy Indiana, Inc., 3.750%, 07/15/20		64
		Duke Energy Progress LLC,
	40	2.800%, 05/15/22		40
	106	3.250%, 08/15/25		108
	150	5.300%, 01/15/19		166
	60	Electricite de France S.A., (France), 2.150%, 01/22/19 (e)		60
	100	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		109
	400	Florida Power & Light Co., 3.125%, 12/01/25		402
		Indiana Michigan Power Co.,
	135	7.000%, 03/15/19		154
	100	Series J, 3.200%, 03/15/23		99
	25	Jersey Central Power & Light Co., 7.350%, 02/01/19		28
	47	Kansas City Power & Light Co., 3.150%, 03/15/23		46
	60	Nevada Power Co., 7.125%, 03/15/19		69
		NextEra Energy Capital Holdings, Inc.,
	27	2.400%, 09/15/19		27
	113	7.875%, 12/15/15		113
		Niagara Mohawk Power Corp.,
	28	3.508%, 10/01/24 (e)		28
	40	4.881%, 08/15/19 (e)		43
	25	Ohio Power Co., 6.050%, 05/01/18		27
	50	Oncor Electric Delivery Co. LLC, 6.800%, 09/01/18		56
		Pacific Gas & Electric Co.,
	68	2.450%, 08/15/22		66
	50	3.250%, 06/15/23		51
	125	5.625%, 11/30/17		134
		PacifiCorp,
	140	3.600%, 04/01/24		145
	100	3.850%, 06/15/21		106
	60	5.650%, 07/15/18		66
	75	PECO Energy Co., 5.350%, 03/01/18		81
	51	Public Service Co. of Colorado, 3.200%, 11/15/20		53
	74	Public Service Co. of Oklahoma, 4.400%, 02/01/21		79
	375	Public Service Electric & Gas Co., 3.000%, 05/15/25		373
		Southern California Edison Co.,
	54	1.845%, 02/01/22		54
	212	Series C, 3.500%, 10/01/23		221
	45	Southern Co. (The), 1.950%, 09/01/16		45
	30	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		36
		Virginia Electric & Power Co.,
	21	3.450%, 02/15/24		21
	100	5.400%, 04/30/18		109
	100	Wisconsin Electric Power Co., 6.250%, 12/01/15		100
	27	Xcel Energy, Inc., 0.750%, 05/09/16		27
				3,904
		Gas Utilities — 0.0% (g)
	30	Atmos Energy Corp., 8.500%, 03/15/19		35
	50	CenterPoint Energy Resources Corp., 6.125%, 11/01/17		54
				89
		Independent Power & Renewable Electricity Producers — 0.1%
		Exelon Generation Co. LLC,
	45	2.950%, 01/15/20		45
	72	4.000%, 10/01/20		74
	37	PSEG Power LLC, 4.300%, 11/15/23		37

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Independent Power & Renewable Electricity Producers — continued
	317	Southern Power Co., 4.150%, 12/01/25		319
				475
		Multi-Utilities — 0.2%
		AGL Capital Corp.,
	94	3.500%, 09/15/21		96
	100	6.375%, 07/15/16		103
	50	Consumers Energy Co., 5.650%, 04/15/20		57
	79	DTE Energy Co., 3.300%, 06/15/22 (e)		80
	200	NiSource Finance Corp., 3.850%, 02/15/23		205
		Sempra Energy,
	48	4.050%, 12/01/23		50
	150	9.800%, 02/15/19		183
	87	WEC Energy Group, Inc., 3.550%, 06/15/25		88
				862
		Water Utilities — 0.1%
	122	American Water Capital Corp., 3.400%, 03/01/25		125
		Total Utilities		5,455
		Total Corporate Bonds (Cost $83,018)		84,881
		Foreign Government Securities — 0.9%
		Israel Government AID Bond, (Israel),
	1,000	Zero Coupon, 02/15/24		797
	500	Series 6-Z, Zero Coupon, 02/15/22		431
	1,000	Series 7-Z, Zero Coupon, 08/15/25		749
	1,000	Series 8-Z, Zero Coupon, 08/15/24		777
	1,000	Series 8-Z, Zero Coupon, 02/15/25		766
	92	Republic of Poland, (Poland), 4.000%, 01/22/24		97
	200	Republic of Turkey, (Turkey), 5.750%, 03/22/24		213
		United Mexican States, (Mexico),
	244	3.500%, 01/21/21		249
	250	3.600%, 01/30/25		247
	116	4.000%, 10/02/23		118
		Total Foreign Government Securities (Cost $4,421)		4,444
		Mortgage Pass-Through Securities — 8.1%
		Federal Home Loan Mortgage Corp.,
	85	ARM, 2.102%, 01/01/37		89
	193	ARM, 2.135%, 08/01/36		203
	26	ARM, 2.309%, 01/01/27		27
	174	ARM, 2.365%, 03/01/37		184
	12	ARM, 2.375%, 07/01/26		12
	215	ARM, 2.497%, 12/01/34		230
	105	ARM, 2.519%, 09/01/36		112
	58	ARM, 2.524%, 11/01/36		62
	122	ARM, 2.542%, 09/01/36		131
	225	ARM, 2.598%, 06/01/36		239
	143	ARM, 2.674%, 04/01/38		153
	91	ARM, 2.828%, 02/01/37		97
		Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	54	4.000%, 06/01/19		56
	11	4.500%, 10/01/18		12
	2	5.500%, 06/01/17		2
	6	6.000%, 10/01/17 – 04/01/18		7
	81	6.500%, 01/01/17 – 03/01/22		84
		Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	6	6.000%, 12/01/22		7
	21	6.500%, 08/01/26		24
		Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	51	6.000%, 01/01/34		59
	51	7.000%, 04/01/26 – 02/01/37		58
	5	7.500%, 08/01/25		5
	5	8.000%, 07/01/20 – 11/01/24		6
	14	8.500%, 07/01/28		17
	187	Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		207
		Federal Home Loan Mortgage Corp. Gold Pools, Other,
	2,344	3.500%, 05/01/33 – 05/01/43		2,437
	405	4.000%, 06/01/42		432
	74	6.000%, 02/01/33		80
		Federal National Mortgage Association,
	49	ARM, 1.846%, 02/01/37		52
	122	ARM, 1.928%, 01/01/35		127
	183	ARM, 1.967%, 02/01/35		191
	1	ARM, 1.979%, 03/01/19		1
	182	ARM, 1.991%, 01/01/35		194
	141	ARM, 2.029%, 09/01/35		147
	78	ARM, 2.135%, 08/01/35		82
	77	ARM, 2.197%, 02/01/35		82
	192	ARM, 2.324%, 09/01/34		203
	102	ARM, 2.325%, 09/01/36		109
	138	ARM, 2.377%, 09/01/35		148
	80	ARM, 2.384%, 11/01/33		85
	127	ARM, 2.405%, 08/01/34		135
	188	ARM, 2.429%, 02/01/37		199

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	94	ARM, 2.454%, 04/01/35		100
	107	ARM, 2.479%, 04/01/33		113
	66	ARM, 2.494%, 08/01/36		71
	9	ARM, 2.559%, 09/01/27		9
	110	ARM, 2.565%, 07/01/46		118
	–(h)	ARM, 2.625%, 08/01/19		—	(h)
	117	ARM, 2.634%, 10/01/34		125
	147	ARM, 2.685%, 09/01/33		157
	198	ARM, 2.920%, 02/01/36		211
	6	ARM, 3.739%, 03/01/29		6
		Federal National Mortgage Association, 15 Year, Single Family,
	27	4.000%, 05/01/19		28
	130	4.500%, 05/01/18 – 05/01/19		135
	172	5.000%, 06/01/18 – 04/01/19		179
	100	5.500%, 01/01/20 – 06/01/20		104
	189	6.000%, 03/01/21 – 01/01/24		206
	22	6.500%, 03/01/17 – 08/01/20		23
	70	Federal National Mortgage Association, 20 Year, Single Family, 6.500%, 05/01/22		81
		Federal National Mortgage Association, 30 Year, FHA/VA,
	12	6.000%, 09/01/33		14
	20	6.500%, 03/01/29		22
	4	8.500%, 02/01/30		4
	5	9.000%, 09/01/19 – 12/01/30		5
	3	9.500%, 12/01/18		3
		Federal National Mortgage Association, 30 Year, Single Family,
	51	4.500%, 08/01/33		55
	803	5.000%, 07/01/33 – 08/01/40		896
	82	5.500%, 12/01/33		94
	384	6.000%, 12/01/32 – 09/01/37		439
	33	6.500%, 08/01/31		38
	5	7.000%, 09/01/27 – 08/01/32		6
	8	7.500%, 11/01/22 – 10/01/24		9
	312	8.000%, 03/01/21 – 11/01/32		386
	5	8.500%, 07/01/24 – 05/01/25		5
	–(h)	9.000%, 04/01/26		—	(h)
	2	10.000%, 02/01/24		2
		Federal National Mortgage Association, Other,
	500	VAR, 0.663%, 12/01/23		503
	475	1.940%, 01/01/17		474
	983	2.220%, 12/01/22		975
	492	2.240%, 12/01/22		489
	652	2.395%, 01/01/22		656
	971	2.480%, 06/01/19		997
	1,000	2.760%, 05/01/21		1,035
	1,933	2.764%, 06/01/23		1,955
	1,000	2.790%, 05/01/27		982
	1,000	3.030%, 04/01/27		1,003
	1,500	3.100%, 09/01/25		1,529
	1,000	3.110%, 12/01/24		1,024
	1,000	3.240%, 12/01/26		1,045
	1,000	3.290%, 08/01/26		1,027
	500	3.340%, 02/01/27		517
	1,000	3.380%, 12/01/23		1,049
	1,000	3.540%, 10/01/20		1,061
	2,295	3.590%, 12/01/20		2,440
	1,493	3.760%, 10/01/23 – 11/01/23		1,600
	790	4.000%, 07/01/42		845
	1,022	4.160%, 03/01/21		1,112
	338	4.263%, 06/01/21		368
	772	4.300%, 04/01/21		847
	1,907	4.380%, 01/01/21 – 04/01/21		2,095
	487	4.390%, 05/01/21		536
	63	5.500%, 04/01/38		68
	89	6.000%, 03/01/37		99
		Government National Mortgage Association II, 30 Year, Single Family,
	221	6.000%, 03/20/28 – 09/20/38		249
	10	7.500%, 02/20/28 – 09/20/28		11
	26	8.000%, 12/20/25 – 08/20/28		30
	16	8.500%, 03/20/25 – 05/20/25		18
	3	Government National Mortgage Association, 15 Year, Single Family, 6.000%, 10/15/17		3
		Government National Mortgage Association, 30 Year, Single Family,
	268	6.000%, 11/15/28 – 12/15/38		308
	234	6.500%, 01/15/24 – 12/15/35		271
	220	7.000%, 08/15/23 – 06/15/35		254
	20	7.500%, 11/15/22 – 09/15/28		22
	3	8.000%, 07/15/22 – 08/15/28		3
	1	8.500%, 11/15/17		1
	5	9.000%, 08/15/16 – 11/15/24		5
	72	9.500%, 09/15/18 – 12/15/25		79
	584	Government National Mortgage Association, Other, 3.500%, 11/20/33		614
		Total Mortgage Pass-Through Securities (Cost $37,407)		38,630

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Supranational — 0.0% (g)
	150	African Development Bank, 8.800%, 09/01/19 (Cost $180)		184
		U.S. Government Agency Securities — 1.6%
		Federal National Mortgage Association,
	1,000	3.900%, 06/01/17 (n)		987
	800	5.000%, 05/11/17		847
		Financing Corp. STRIPS,
	1,440	1.557%, 05/11/18 (n)		1,393
	584	3.416%, 09/26/19 (n)		545
	500	3.547%, 04/05/19 (n)		474
		Residual Funding Corp. STRIPS,
	250	1.543%, 10/15/19 (n)		234
	1,950	1.846%, 07/15/20 (n)		1,782
	1,000	Tennessee Valley Authority, 5.500%, 07/18/17		1,074
	333	Tennessee Valley Authority STRIPS, 4.254%, 05/01/19 (n)		318
		Total U.S. Government Agency Securities (Cost $7,510)		7,654
	U.S. Treasury Obligations — 34.4%
		U.S. Treasury Bonds,
	1,225	7.500%, 11/15/16		1,304
	250	8.750%, 08/15/20		330
		U.S. Treasury Coupon STRIPS,
	370	0.967%, 05/15/18 (n)		360
	2,650	1.636%, 11/15/19 (n)		2,488
	2,200	1.882%, 02/15/18 (n)		2,149
	5,515	1.986%, 05/15/21 (n)		4,965
	3,825	2.015%, 08/15/23 (n)		3,226
	200	2.071%, 05/15/24 (n)		165
	2,985	2.144%, 02/15/20 (n)		2,787
	2,150	2.154%, 11/15/23 (n)		1,799
	200	2.185%, 05/15/26 (n)		154
	3,000	2.265%, 02/15/24 (n)		2,491
	12,925	2.266%, 05/15/22 (n)		11,298
	10	2.312%, 05/15/28 (n)		7
	3,275	2.321%, 02/15/21 (n)		2,969
	4,446	2.344%, 08/15/17 (n)		4,381
	300	2.459%, 02/15/27 (n)		225
	750	2.463%, 05/15/23 (n)		637
	8,275	2.508%, 08/15/21 (n)		7,403
	2,400	2.541%, 02/15/22 (n)		2,114
	1,300	2.591%, 11/15/22 (n)		1,121
	1,495	2.650%, 05/15/19 (n)		1,424
	200	2.669%, 05/15/25 (n)		159
	5,495	2.682%, 02/15/23 (n)		4,708
	3,577	2.704%, 08/15/16 (n)		3,562
	53	2.774%, 02/15/28 (n)		38
	4,350	2.799%, 08/15/19 (n)		4,114
	1,000	2.817%, 08/15/22 (n)		867
	200	2.914%, 08/15/28 (n)		143
	1,224	3.019%, 02/15/17 (n)		1,212
	47	3.158%, 08/15/26 (n)		36
	14,550	3.199%, 08/15/20 (n)		13,400
	10,348	3.201%, 05/15/20 (n)		9,579
	300	3.302%, 11/15/26 (n)		227
	100	3.454%, 08/15/27 (n)		74
	140	3.521%, 11/15/27 (n)		103
	1,525	3.587%, 11/15/21 (n)		1,353
	2,290	3.983%, 11/15/17 (n)		2,247
	400	5.420%, 11/15/16 (n)		397
	3,866	6.745%, 02/15/16 (n)		3,865
		U.S. Treasury Inflation Indexed Notes,
	617	0.125%, 01/15/22		633
	425	1.375%, 01/15/20		489
		U.S. Treasury Notes,
	593	0.875%, 01/31/18		591
	1,500	1.250%, 10/31/18		1,502
	2,500	1.500%, 08/31/18		2,522
	320	1.500%, 05/31/19		321
	13,850	1.750%, 05/15/23		13,561
	2,000	1.875%, 11/30/21		2,000
	4,000	2.000%, 10/31/21		4,030
	5,000	2.000%, 02/15/25		4,910
	700	2.375%, 08/15/24		711
	350	2.625%, 08/15/20		365
	800	2.625%, 11/15/20		835
	1,500	2.750%, 11/30/16		1,530
	14,000	2.750%, 02/15/19		14,640
	1,000	3.125%, 04/30/17		1,033
	850	3.125%, 05/15/21		908
	7,900	3.250%, 12/31/16		8,110
	1,050	3.500%, 02/15/18		1,106
	3,050	3.500%, 05/15/20		3,296
	400	4.250%, 11/15/17		426
	200	4.500%, 02/15/16		202
		Total U.S. Treasury Obligations (Cost $160,893)		163,602

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Short-Term Investment — 5.3%
		Investment Company — 5.3%
	25,009	JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares, 0.070% (b) (l) (Cost $25,009)		25,009
		Total Investments — 99.9% (Cost $466,187)		474,671
		Other Assets in Excess of Liabilities — 0.1%		664
		NET ASSETS — 100.0%	$	475,335

Percentages indicated are based on net assets.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS:

ACES	—	Alternative Credit Enhancement Securities
ARM	—	Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of November 30, 2015.
CMO	—	Collateralized Mortgage Obligation
CSMC	—	Credit Suisse Mortgage Trust
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, 2015. 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, 2015.
VA	—	Veterans Administration
VAR	—	Variable Rate Security. The interest rate shown is the rate in effect as of November 30, 2015.
(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).
(1)	—	The rate shown is the current yield as of November 30, 2015.
(n)	—	The rate shown is the effective yield at the date of purchase.

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(Amounts in thousands)

As of November 30, 2015, 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	$	9,892
Aggregate gross unrealized depreciation		(1,408	)
Net unrealized appreciation/depreciation	$	8,484
Federal income tax cost of investments	$	466,187

A. Valuation of Investments — The valuation of the investments is in accordance with U.S. generally accepted accounting principles (‘GAAP”) and the Fund’s valuation policies set forth by and under the supervision and responsibility of the Board of Trustees (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at such unadjusted quoted prices and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

JPMorgan Funds Management, Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight, including but not limited to consideration of macro or security specific events, market events and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and at least on a quarterly basis with the AVC and the Board.

A market-based approach is primarily used to value the Fund’s investments. Investments for which market quotations are not readily available are fair valued by approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”) or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include 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. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used, had a ready market for the investments existed, and such differences could be material.

Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated Pricing Services. The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.

Investments in open-end investment companies (the “Underlying Funds”) are valued at each Underlying Fund’s net asset values per share as of the report date.

See the tables on “Quantitative Information about Level 3 Fair Value Measurements” for information on the valuation techniques and inputs used to value Level 3 securities held by the Fund at November 30, 2015.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer related events after the report date and prior to issuance of the report are not reflected herein.

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

• Level 1 – Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 – Other significant observable inputs including, but are not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 – Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s assumptions in determining the fair value of investments).

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

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

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2015 (Unaudited) (continued)

(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	$	—	$	44,929	$	14,222	$	59,151
Collateralized Mortgage Obligations
Agency CMO		—		69,792		—		69,792
Non-Agency CMO		—		11,001		786		11,787
Total Collateralized Mortgage Obligations		—		80,793		786		81,579
Commercial Mortgage-Backed Securities		—		8,597		940		9,537
Corporate Bonds
Consumer Discretionary		—		4,720		—		4,720
Consumer Staples		—		3,285		—		3,285
Energy		—		8,240		—		8,240
Financials		—		43,970		—		43,970
Health Care		—		3,343		—		3,343
Industrials		—		4,442		—		4,442
Information Technology		—		5,311		—		5,311
Materials		—		1,826		—		1,826
Telecommunication Services		—		4,289		—		4,289
Utilities		—		5,455		—		5,455
Total Corporate Bonds		—		84,881		—		84,881
Foreign Government Securities		—		4,444		—		4,444
Mortgage Pass-Through Securities		—		38,630		—		38,630
Supranational		—		184		—		184
U.S. Government Agency Securities		—		7,654		—		7,654
U.S. Treasury Obligations		—		163,602		—		163,602
Short-Term Investment
Investment Company		25,009		—		—		25,009
Total Investments in Securities	$	25,009	$	433,714	$	15,948	$	474,671

There were no significant transfers between Levels 1 and 2 during the period ended November 30, 2015.

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

	Balance as of February  28, 2015		Realized gain (loss)		Change in unrealized appreciation (depreciation)			Net accretion (amortization)			Purchases1		Sales2			Transfers into Level 3		Transfers out of Level 3			Balance as of November 30, 2015
Investments in Securities
Asset-Backed Securities	$	9,251	$	—	$	(69	)	$	1		$	11,337	$	(3,904	)	$	—	$	(2,394	)	$	14,222
Collateralized Mortgage Obligations — Non-Agency CMO		1,117		—		(2	)		6			—		(335	)		—		—			786
Commercial Mortgage-Backed Securities		892		—		(4	)		(41	)		353		(260	)		—		—			940
Corporate Bonds — Industrials		884		—		—			—			—		—			—		(884	)		—
	$	12,144	$	—	$	(75	)	$	(34	)	$	11,690	$	(4,499	)	$	—	$	(3,278	)	$	15,948

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

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

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

Transfers from Level 2 to Level 3 or from Level 3 to Level 2 are due to a decline or an increase in market activity (e.g. frequency of

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

The changes in net unrealized appreciation (depreciation) attributable to securities owned at November 30, 2015, which were valued using significant unobservable inputs (Level 3) amounted to approximately $ (68).

Quantitative Information about Level 3 Fair Value Measurements # (Amounts in thousands)

	Fair Value at November 30, 2015		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
	$	7,557	Discounted Cash Flow	Constant Prepayment Rate	0.00% - 100.00% (2.77%)
				Constant Default Rate	0.00% - 50.00% (17.93%)
				Yield (Discount Rate of Cash Flows)	1.88% - 5.00% (3.82%)
Asset-Backed Securities		7,557
		672	Discounted Cash Flow	Constant Prepayment Rate	4.00% - 30.00% (7.19%)
				Constant Default Rate	0.00% - 7.51% (1.94%)
				Yield (Discount Rate of Cash Flows)	1.48% - 39.08% (2.90%)
Collateralized Mortgage Obligations		672
		244	Discounted Cash Flow	Constant Prepayment Rate	0.00 - 100.00% (18.07%)
				Constant Default Rate	0.00%
				Yield (Discount Rate of Cash Flows)	1.16% - 4.82% (3.84%)
Commercial Mortgage-Backed Securities		244
Total	$	8,473

# The table above does not include Level 3 investments that are valued by brokers and pricing services. At Novmeber 30, 2015, the value of these investments was approximately $7,475,000. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note A.

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 default rate may decrease (increase) the fair value measurement. A significant change in the discount rate or prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.

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 27, 2016

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 27, 2016
By:	/s/ Laura M. Del Prato
	Laura M. Del Prato
	Treasurer and Principal Financial Officer
	January 27, 2016