N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-21638

JPMorgan Institutional Trust

(Exact name of registrant as specified in charter)

270 Park Avenue

New York, NY 10017

(Address of principal executive offices) (Zip code)

Frank J. Nasta

270 Park Avenue

New York, NY 10017

(Name and Address of Agent for Service)

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

Date of fiscal year end: Last day of February

Date of reporting period: March 1, 2016 through August 31, 2016

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

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

ITEM 1. REPORTS TO STOCKHOLDERS.

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

Semi-Annual Report

JPMorgan Institutional Trust Funds

August 31, 2016 (Unaudited)

JPMorgan Core Bond Trust

JPMorgan Equity Index Trust

JPMorgan Intermediate Bond Trust

CONTENTS

CEO’s Letter	1
Market Overview	2
Fund Commentaries:
JPMorgan Core Bond Trust	3
JPMorgan Equity Index Trust	5
JPMorgan Intermediate Bond Trust	7
Schedules of Portfolio Investments	9
Financial Statements	94
Financial Highlights	98
Notes to Financial Statements	100
Schedule of Shareholder Expenses	111
Board Approval of Investment Advisory Agreements	112

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

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

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

CEO’S LETTER

September 22, 2016 (Unaudited)

Dear Shareholder,

The U.S. continued to lead a slow global economic expansion through August 2016, further raising pressure on the U.S. Federal Reserve (the “Fed”) to begin raising interest rates even as leading central banks elsewhere extended their extraordinary stimulus efforts.

  “It is especially notable that in the wake of a sell-off in June, financial markets fully recovered in the following two months.”

Amid uncertainty about China’s economic outlook in early 2016, a sharp sell-off in financial markets following Britain’s June 23rd vote to exit the European Union and low U.S. inflation, the Fed declined to raise rates at its May and July meetings. However, financial markets rebounded quickly from the so-called Brexit sell-off and investor concerns about China’s economy receded. By August 2016, investors’ appetite for risk had returned, driving up prices for both stocks and bonds and pushing market volatility to record lows.

Meanwhile, U.S. gross domestic product remained low but positive through the first and second quarters of 2016. Unemployment remained at 5.0% or lower from February through August and sales of new homes in the U.S. returned to levels last seen before the 2008 financial crisis.

Overseas, the European Central Bank (ECB) surprised financial markets in early March with a further cut in interest rates and an expansion of its own quantitative easing program, along with other specific stimulus policies. In July, the ECB maintained its key interest rate at zero. Partly in response to the Brexit vote, Britain’s central bank cut interest rates in August to their lowest level in the bank’s 322-year history and reintroduced a quantitative easing program and began buying corporate bonds. After introducing negative interest rates in early 2016 to combat sputtering growth, the Bank of Japan changed direction in early September 2016 and unveiled a “yield curve control” to improve commercial bank earnings and investment returns for pension funds and insurers.

The ultimate effect of these central bank actions was to produce negative yields on government bonds in Europe and Japan, which led to a bond market rally in the U.S. as investors sought returns in U.S. Treasury bonds. Bond yields generally move in the opposite direction of bond prices and the bond market rally pushed Treasury bond yields to record lows in July.

In this environment, the financial market’s implied probability of an interest rate increase at the Fed’s September 2016 meeting rose to 36% at the end of August. However, the U.S. central bank declined to raise rates, citing below-target inflation data and concerns about continued job growth.

While Fed Chairwoman Janet Yellen indicated there is a greater likelihood of an interest rate increase in December 2016, both the International Monetary Fund and the World Bank have issued warnings about slowing economic growth in the U.S. and the rest of the world.

During the six months ended August 31, 2016, U.S. investors generally enjoyed solid returns in both bond and stock markets. It is especially notable that in the wake of a sell-off in June, financial markets fully recovered in the following two months. We believe this outcome clearly illustrates the wisdom of an investment perspective that is diversified, persistent and is guided by a long-term vision.

We look forward to managing your investment needs for years to come.

Sincerely yours,

George C.W. Gatch

CEO, Investment Funds Management,

J.P. Morgan Asset Management

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 1

JPMorgan Institutional Trust Funds

MARKET OVERVIEW

SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited)

Overall, U.S. financial markets provided positive returns for the six month reporting period and rebounded from a startling but short sell-off in late June that was sparked by the British vote to exit the European Union. Continued low interest rates in the U.S. and negative rates elsewhere, along with generally strong U.S. corporate earnings, supported increased investment in U.S. equities during the six month period. The Standard & Poor’s 500 Index reached three new closing highs in August and posted a return of 13.60% for the six month reporting period.

Meanwhile, a global bond market rally drove government bond yields, which generally move inversely to bond prices, into negative territory in Japan and Europe. Overseas buying of U.S. debt helped push yields on 10-year Treasury bonds to a record low of 1.32% in July. Demand from investors, especially in Asia and Europe, for higher yielding debt drove up prices for corporate bonds. The Barclays U.S. Aggregate Index returned 3.68% for the six months ended August 31, 2016.

2 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

JPMorgan Core Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited)

REPORTING PERIOD RETURN:
JPMorgan Core Bond Trust*		3.52%
Barclays U.S. Aggregate Index		3.68%
Net Assets as of 8/31/2016 (In Thousands)	$	3,748,307
Duration as of 8/31/2016		5.5 Years

INVESTMENT OBJECTIVE**

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

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

For the six months ended August 31, 2016, the Fund underperformed the Barclays U.S. Aggregate Index (the “Benchmark”). Relative to the Benchmark, the Fund’s underweight position in the corporate credit sector, particularly in industrial credit bonds, was a leading detractor from performance. The Fund’s overweight position in asset-backed securities was a leading contributor to relative performance.

HOW WAS THE FUND POSITIONED?

The Fund continued to focus on security selection and relative value, which seeks to exploit pricing discrepancies between individual securities or market sectors. The Fund’s portfolio managers used bottom-up fundamental research to construct, in their view, a portfolio of undervalued fixed income securities. At the end of the reporting period, the Fund was underweight in U.S. Treasury securities and overweight in mortgage-backed securities.

PORTFOLIO COMPOSITION***
Corporate Bonds	24.9	%
U.S. Treasury Obligations	21.9
Mortgage Pass-Through Securities	18.0
Collateralized Mortgage Obligations	16.9
Asset-Backed Securities	11.1
U.S. Government Agency Securities	2.6
Commercial Mortgage-Backed Securities	2.4
Foreign Government Securities	1.4
Others (each less than 1.0%)	0.6
Short-Term Investment	0.2

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

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

*** Percentages indicated are based on total investments as of August 31, 2016. The Fund’s portfolio composition is subject to change.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 3

JPMorgan Core Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited) (continued)

AVERAGE ANNUAL TOTAL RETURNS AS OF AUGUST 31, 2016
	INCEPTION DATE OF CLASS		6 MONTH*			1 YEAR			5 YEAR			10 YEAR
		February 7, 2005		3.52	%		5.88	%		3.82	%		5.80	%

* Not annualized

TEN YEAR PERFORMANCE (8/31/06 TO 8/31/16)

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

The graph illustrates comparative performance for $10,000,000 invested in the JPMorgan Core Bond Trust, the Barclays U.S. Aggregate Index and the Lipper Intermediate U.S. Government Funds Index from August 31, 2006 to August 31, 2016. The performance of the Fund assumes reinvestment of all dividends and capital gain distributions, if any, and does not include a sales charge. The performance of the Barclays U.S. Aggregate Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the benchmark, if applicable. The performance of the Lipper Intermediate U.S. Government Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses incurred by the Fund. The Barclays U.S. Aggregate Index is an unmanaged index that represents securities that are SEC-registered,

taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. The Lipper Intermediate U.S. Government Funds Index is an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper, Inc. Investors cannot invest directly in an index.

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

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

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

4 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

JPMorgan Equity Index Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited)

REPORTING PERIOD RETURN:
JPMorgan Equity Index Trust*		13.55%
S&P 500 Index**		13.60%
Net Assets as of 8/31/2016 (In Thousands)	$	291,845

INVESTMENT OBJECTIVE***

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

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

The Fund generally performed in line with the S&P 500 Index (the “Benchmark”) for the six months ended August 31, 2016. This was consistent with the Fund’s indexing strategy and investment objective, as the Fund looks to generate returns that are comparable to that of the Benchmark.

Overall, U.S. equity markets provided positive returns for the six month reporting period and rebounded strongly from a late-June sell-off sparked by the British vote to exit the European Union. During the reporting period, all ten sectors of the Benchmark posted positive returns, with the information technology, financials and health care sectors providing the largest contribution to Benchmark returns and the telecommunication services, utilities and materials sectors providing the smallest contribution to Benchmark returns.

HOW WAS THE FUND POSITIONED?

The Fund was managed in conformity with an index replication strategy and aimed to hold the same stocks in nearly the same proportions as those found in the Benchmark.

TOP TEN EQUITY HOLDINGS OF THE PORTFOLIO****
	1.	Apple, Inc.	3.0	%
	2.	Microsoft Corp.	2.4
	3.	Exxon Mobil Corp.	1.9
	4.	Johnson & Johnson	1.7
	5.	Amazon.com, Inc.	1.6
	6.	Facebook, Inc., Class A	1.5
	7.	General Electric Co.	1.5
	8.	Berkshire Hathaway, Inc., Class B	1.5
	9.	AT&T, Inc.	1.3
	10.	JPMorgan Chase & Co.	1.3

PORTFOLIO COMPOSITION BY SECTOR****
Information Technology	20.6	%
Health Care	14.4
Financials	13.0
Consumer Discretionary	12.0
Consumer Staples	9.9
Industrials	9.8
Energy	6.9
Utilities	3.2
Real Estate	3.0
Materials	2.9
Telecommunication Services	2.6
Exchange Traded Fund	0.1
Short-Term Investments	1.6

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

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

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

**** Percentages indicated are based on total investments as of August 31, 2016. The Fund’s portfolio composition is subject to change.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 5

JPMorgan Equity Index Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited) (continued)

AVERAGE ANNUAL TOTAL RETURNS AS OF AUGUST 31, 2016
	INCEPTION DATE OF CLASS		6 MONTH*			1 YEAR			5 YEAR			10 YEAR
		February 7, 2005		13.55	%		12.45	%		14.56	%		7.39	%

* Not annualized

TEN YEAR PERFORMANCE (8/31/06 TO 8/31/16)

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

The graph illustrates comparative performance for $10,000,000 invested in the JPMorgan Equity Index Trust, the S&P 500 Index and the Lipper S&P 500 Funds Index from August 31, 2006 to August 31, 2016. The performance of the Fund assumes reinvestment of all dividends and capital gain distributions, if any, and does not include a sales charge. The performance of the S&P 500 Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the benchmark, if applicable. The performance of the Lipper S&P 500 Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses incurred by the Fund. The S&P 500 Index is an

unmanaged index generally representative of the performance of large companies in the U.S. Stock Market. Index levels are based on total return in U.S. dollars. The Lipper S&P 500 Funds Index is an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper, Inc. Investors cannot invest directly in an index.

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

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

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

6 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

JPMorgan Intermediate Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited)

REPORTING PERIOD RETURN:
JPMorgan Intermediate Bond Trust*		2.41%
Barclays Intermediate U.S. Government/Credit Index		2.34%
Net Assets as of 8/31/2016 (In Thousands)	$	337,133
Duration as of 8/31/2016		3.8 Years

INVESTMENT OBJECTIVE**

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

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

For the six months ended August 31, 2016, the Fund outperformed the Barclays Intermediate U.S. Government/Credit Index (the “Benchmark”). The Fund’s security selection in the corporate credit sector was a leading contributor to performance relative to the Benchmark. The Fund’s allocation to agency mortgage securities and commercial mortgage-backed securities also made a positive contribution to relative performance.

The Fund’s underweight position in the corporate credit sector, particularly in industrial bonds, and its underweight position in U.S. Treasury bonds were leading detractors from relative performance.

HOW WAS THE FUND POSITIONED?

The Fund continued to focus on security selection and relative value, which seeks to exploit pricing discrepancies between individual securities or market sectors. The Fund’s portfolio managers used bottom-up fundamental research to construct, in their view, a portfolio of undervalued fixed income securities. At the end of the reporting period, the Fund was underweight

in U.S. Treasuries and in the corporate credit sector. During the reporting period, the Fund was overweight in securities in the 7 and 10 year portions of the yield curve. The yield curve shows the relationship between yields and maturity dates for a set of similar bonds at a given point in time.

PORTFOLIO COMPOSITION***
Corporate Bonds	23.1	%
U.S. Treasury Obligations	22.0
Collateralized Mortgage Obligations	22.0
Asset-Backed Securities	13.8
Mortgage Pass-Through Securities	10.6
U.S. Government Agency Securities	2.2
Commercial Mortgage-Backed Securities	2.1
Foreign Government Securities	1.2
Supranational	0.1
Short-Term Investment	2.9

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

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

*** Percentages indicated are based on total investments as of August 31, 2016. The Fund’s portfolio composition is subject to change.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 7

JPMorgan Intermediate Bond Trust

FUND COMMENTARY

SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited) (continued)

AVERAGE ANNUAL TOTAL RETURNS AS OF AUGUST 31, 2016
	INCEPTION DATE OF CLASS		6 MONTH*			1 YEAR			5 YEAR			10 YEAR
		February 7, 2005		2.41	%		4.30	%		3.01	%		5.05	%

* Not annualized

TEN YEAR PERFORMANCE (8/31/06 TO 8/31/16)

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

The graph illustrates comparative performance for $5,000,000 invested in the JPMorgan Intermediate Bond Trust, the Barclays Intermediate U.S. Government/Credit Index and the Lipper Short-Intermediate U.S. Government Funds Index from August 31, 2006 to August 31, 2016. The performance of the Fund assumes reinvestment of all dividends and capital gain distributions, if any, and does not include a sales charge. The performance of the Barclays Intermediate U.S. Government/Credit Index does not reflect the deduction of expenses associated with a mutual fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the benchmark, if applicable. The performance of the Lipper Short-Intermediate U.S. Government Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses incurred by the Fund. The Barclays Intermediate

U.S. Government/Credit Index is an unmanaged index comprised of intermediate maturity U.S. Treasury and agency securities and investment grade corporate securities. The Lipper Short-Intermediate U.S. Government Funds Index is an index based on the total returns of certain mutual funds within the Fund’s designated category as determined by Lipper, Inc. Investors cannot invest directly in an index.

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

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

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

8 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — 11.0%
		Academic Loan Funding Trust,
	760	Series 2012-1A, Class A1, VAR, 1.288%, 12/27/22 (e)		760
	1,494	Series 2013-1A, Class A, VAR, 1.324%, 12/26/44 (e)		1,469
		Ally Auto Receivables Trust,
	153	Series 2013-2, Class A3, 0.790%, 01/15/18		154
	300	Series 2013-2, Class A4, 1.240%, 11/15/18		300
	1,229	Series 2014-SN2, Class A3, 1.030%, 09/20/17		1,229
		American Credit Acceptance Receivables Trust,
	295	Series 2014-2, Class B, 2.260%, 03/10/20 (e)		295
	311	Series 2015-1, Class A, 1.430%, 08/12/19 (e)		311
	957	Series 2015-2, Class A, 1.570%, 06/12/19 (e)		956
	1,225	Series 2015-2, Class C, 4.320%, 05/12/21 (e)		1,225
	2,590	Series 2016-1A, Class B, 4.240%, 06/13/22 (e)		2,656
		American Homes 4 Rent Trust,
	1,000	Series 2014-SFR1, Class C, VAR, 2.257%, 06/17/31 (e)		992
	3,875	Series 2014-SFR2, Class A, 3.786%, 10/17/36 (e)		4,201
	2,000	Series 2014-SFR2, Class D, 5.149%, 10/17/36 (e)		2,192
	850	Series 2014-SFR2, Class E, 6.231%, 10/17/36 (e)		931
	2,913	Series 2014-SFR3, Class A, 3.678%, 12/17/36 (e)		3,138
	500	Series 2014-SFR3, Class C, 4.596%, 12/17/36 (e)		540
	2,380	Series 2014-SFR3, Class E, 6.418%, 12/17/36 (e)		2,639
	4,147	Series 2015-SFR1, Class A, 3.467%, 04/17/52 (e)		4,426
	1,275	Series 2015-SFR1, Class E, 5.639%, 04/17/52 (e)		1,343
		AmeriCredit Automobile Receivables Trust,
	67	Series 2013-5, Class A3, 0.900%, 09/10/18		67
	192	Series 2015-2, Class A2A, 0.830%, 09/10/18		192
	999	Series 2016-1, Class A3, 1.810%, 10/08/20		1,004
	2,835	Series 2016-2, Class A2A, 1.420%, 10/08/19		2,836
	513	Series 2016-2, Class A3, 1.600%, 11/09/20		513
	794	Series 2016-3, Class A3, 1.460%, 05/08/21		792

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	7,100	Anchor Assets IX LLC, Series 2016-1, Class A, 5.125%, 02/15/20 (e)		7,100
	3,459	ARLP Securitization Trust, Series 2015-1, Class A1, SUB, 3.967%, 05/25/55 (e)		3,378
	1,387	AXIS Equipment Finance Receivables III LLC, Series 2015-1A, Class A2, 1.900%, 03/20/20 (e)		1,384
		B2R Mortgage Trust,
	1,697	Series 2015-1, Class A1, 2.524%, 05/15/48 (e)		1,693
	2,974	Series 2015-2, Class A, 3.336%, 11/15/48 (e)		3,052
	1,400	BA Credit Card Trust, Series 2015-A2, Class A, 1.360%, 09/15/20		1,403
	1,174	Banc of America Funding Corp., Series 2012-R6, Class 1A1, 3.000%, 10/26/39 (e)		1,156
		BCC Funding Corp. X,
	2,680	Series 2015-1, Class A2, 2.224%, 10/20/20 (e)		2,671
	550	Series 2015-1, Class D, 4.544%, 12/21/20 (e)		554
	272	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.894%, 04/25/36		264
	58	BMW Vehicle Owner Trust, Series 2013-A, Class A3, 0.670%, 11/27/17		58
	539	BXG Receivables Note Trust, Series 2012-A, Class A, 2.660%, 12/02/27 (e)		536
		Cabela’s Credit Card Master Note Trust,
	700	Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		701
	880	Series 2015-2, Class A1, 2.250%, 07/17/23		888
	948	CAM Mortgage LLC, Series 2015-1, Class A, SUB, 3.500%, 07/15/64 (e)		947
		CarFinance Capital Auto Trust,
	61	Series 2014-1A, Class A, 1.460%, 12/17/18 (e)		61
	375	Series 2014-1A, Class B, 2.720%, 04/15/20 (e)		375
	745	Series 2015-1A, Class A, 1.750%, 06/15/21 (e)		741
	1,561	Carlyle Global Market Strategies Commodities Funding Ltd., (Cayman Islands), Series 2014-1A, Class A, VAR, 2.528%, 10/15/21 (e)		1,280
		CarMax Auto Owner Trust,
	181	Series 2013-4, Class A3, 0.800%, 07/16/18		181
	440	Series 2013-4, Class A4, 1.280%, 05/15/19		440

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 9

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	1,734	Series 2015-2, Class A2A, 0.820%, 06/15/18		1,733
	1,199	Carnow Auto Receivables Trust, Series 2015-1A, Class A, 1.690%, 01/15/20 (e)		1,198
	54	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 5.180%, 06/25/32		54
	908	Chase Funding Trust, Series 2003-6, Class 1A7, SUB, 4.277%, 11/25/34		926
	4,178	Chrysler Capital Auto Receivables Trust, Series 2016-AA, Class A3, 1.770%, 10/15/20 (e)		4,186
		Citi Held For Asset Issuance,
	603	Series 2015-PM1, Class A, 1.850%, 12/15/21 (e)		603
	1,459	Series 2015-PM1, Class B, 2.930%, 12/15/21 (e)		1,443
	2,942	Series 2016-MF1, Class A, 4.480%, 08/15/22 (e)		2,967
	3,610	Series 2016-PM1, Class A, 4.650%, 04/15/25 (e)		3,662
	800	Citibank Credit Card Issuance Trust, Series 2007-A3, Class A3, 6.150%, 06/15/39		1,178
	176	Citigroup Mortgage Loan Trust, Inc., Series 2003-HE3, Class A, VAR, 0.904%, 12/25/33		173
	2,857	Colony American Finance Ltd., (Cayman Islands), Series 2016-1, Class A, 2.544%, 06/15/48 (e)		2,858
	4,898	Colony American Homes, Series 2014-2A, Class A, VAR, 1.472%, 07/17/31 (e)		4,861
	2,800	Concord Funding Co. LLC, Series 2012-2, Class A, 3.145%, 01/15/17 (e)		2,801
	1,079	Conix Mortgage Asset Trust, Series 2013-1, Class A, VAR, 12/25/47 (d)		179
	310	Consumer Credit Origination Loan Trust, Series 2015-1, Class A, 2.820%, 03/15/21 (e)		310
		CPS Auto Receivables Trust,
	474	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		474
	120	Series 2013-C, Class A, 1.640%, 04/16/18 (e)		120
	323	Series 2013-D, Class A, 1.540%, 07/16/18 (e)		323
	57	Series 2014-A, Class A, 1.210%, 08/15/18 (e)		57
	1,301	Series 2014-D, Class A, 1.490%, 04/15/19 (e)		1,300

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	700	Series 2014-D, Class C, 4.350%, 11/16/20 (e)		688
	946	Series 2015-A, Class A, 1.530%, 07/15/19 (e)		945
	223	Series 2015-A, Class C, 4.000%, 02/16/21 (e)		217
	3,842	Series 2015-B, Class A, 1.650%, 11/15/19 (e)		3,834
	2,535	Series 2015-B, Class C, 4.200%, 05/17/21 (e)		2,440
	1,376	Series 2015-C, Class D, 4.630%, 08/16/21 (e)		1,359
	2,143	Series 2016-A, Class A, 2.250%, 10/15/19 (e)		2,150
	1,183	Series 2016-B, Class A, 2.070%, 11/15/19 (e)		1,186
	1,400	Series 2016-C, Class C, 3.270%, 06/15/22 (e)		1,395
		CPS Auto Trust,
	296	Series 2012-C, Class A, 1.820%, 12/16/19 (e)		295
	50	Series 2012-D, Class A, 1.480%, 03/16/20 (e)		50
		Credit Acceptance Auto Loan Trust,
	1,008	Series 2014-1A, Class A, 1.550%, 10/15/21 (e)		1,008
	3,022	Series 2015-2A, Class A, 2.400%, 02/15/23 (e)		3,030
	579	Series 2015-2A, Class C, 3.760%, 02/15/24 (e)		578
	212	CWABS, Inc. Asset-Backed Certificates Trust, Series 2004-6, Class M1, VAR, 1.424%, 10/25/34		198
		Drive Auto Receivables Trust,
	1,471	Series 2015-AA, Class D, 4.120%, 07/15/22 (e)		1,505
	2,323	Series 2015-BA, Class B, 2.120%, 06/17/19 (e)		2,326
	2,882	Series 2015-BA, Class D, 3.840%, 07/15/21 (e)		2,907
	1,059	Series 2015-CA, Class D, 4.200%, 09/15/21 (e)		1,056
	1,320	Series 2015-DA, Class D, 4.590%, 01/17/23 (e)		1,365
	1,898	Series 2016-AA, Class B, 3.170%, 05/15/20 (e)		1,919
	2,535	Series 2016-AA, Class C, 3.910%, 05/17/21 (e)		2,594
	477	Series 2016-BA, Class B, 2.560%, 06/15/20 (e)		479

SEE NOTES TO FINANCIAL STATEMENTS.

10 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
		DT Auto Owner Trust,
	583	Series 2015-2A, Class A, 1.240%, 09/17/18 (e)		583
	1,808	Series 2015-2A, Class D, 4.250%, 02/15/22 (e)		1,805
	2,249	Series 2016-1A, Class A, 2.000%, 09/16/19 (e)		2,253
	1,653	Series 2016-2A, Class A, 1.730%, 08/15/19 (e)		1,651
		Exeter Automobile Receivables Trust,
	32	Series 2014-2A, Class A, 1.060%, 08/15/18 (e)		33
	551	Series 2014-3A, Class A, 1.320%, 01/15/19 (e)		550
	556	Series 2014-3A, Class B, 2.770%, 11/15/19 (e)		560
	617	Series 2015-1A, Class A, 1.600%, 06/17/19 (e)		618
	2,125	Series 2015-1A, Class B, 2.840%, 03/16/20 (e)		2,120
	1,371	Series 2015-2A, Class A, 1.540%, 11/15/19 (e)		1,368
	1,825	Series 2015-3A, Class A, 2.000%, 03/16/20 (e)		1,824
	2,182	Series 2016-2A, Class A, 2.210%, 07/15/20 (e)		2,178
	307	Fifth Third Auto Trust, Series 2014-3, Class A3, 0.960%, 03/15/19		307
		First Investors Auto Owner Trust,
	92	Series 2014-3A, Class A2, 1.060%, 11/15/18 (e)		92
	884	Series 2014-3A, Class A3, 1.670%, 11/16/20 (e)		884
	659	Series 2015-1A, Class A2, 1.210%, 04/15/19 (e)		658
	1,234	Series 2015-2A, Class A1, 1.590%, 12/16/19 (e)		1,232
	373	Series 2015-2A, Class D, 4.220%, 12/15/21 (e)		365
		FirstKey Lending Trust,
	6,664	Series 2015-SFR1, Class A, 2.553%, 03/09/47 (e)		6,642
	2,246	Series 2015-SFR1, Class B, 3.417%, 03/09/47 (e)		2,255
		Flagship Credit Auto Trust,
	143	Series 2013-2, Class A, 1.940%, 01/15/19 (e)		143
	210	Series 2014-1, Class A, 1.210%, 04/15/19 (e)		210

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	245	Series 2014-1, Class B, 2.550%, 02/18/20 (e)		245
	743	Series 2014-2, Class A, 1.430%, 12/16/19 (e)		740
	892	Series 2014-2, Class B, 2.840%, 11/16/20 (e)		896
	440	Series 2014-2, Class C, 3.950%, 12/15/20 (e)		442
	1,253	Series 2015-1, Class A, 1.630%, 06/15/20 (e)		1,248
	4,010	Series 2015-3, Class A, 2.380%, 10/15/20 (e)		4,026
	757	Series 2015-3, Class B, 3.680%, 03/15/22 (e)		775
	756	Series 2015-3, Class C, 4.650%, 03/15/22 (e)		772
	3,000	Series 2016-2, Class C, 6.220%, 09/15/22 (e)		3,228
	1,411	Ford Credit Auto Owner Trust, Series 2015-B, Class A2A, 0.720%, 03/15/18		1,410
	2,894	GCAT, Series 2015-2, Class A1, SUB, 3.750%, 07/25/20 (e)		2,879
	192	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		163
	996	GLC II Trust, Series 2014-A, Class A, 4.000%, 12/18/20 (e)		983
	802	GLC Trust, Series 2014-A, Class A, 3.000%, 07/15/21 (e)		797
		GLS Auto Receivables Trust,
	3,139	Series 2015-1A, Class A, 2.250%, 12/15/20 (e)		3,132
	1,431	Series 2015-1A, Class B, 4.430%, 12/15/20 (e)		1,441
	4,380	Series 2016-1A, Class A, 2.730%, 10/15/20 (e)		4,403
	1,200	Series 2016-1A, Class C, 6.900%, 10/15/21 (e)		1,265
	695	GMAT Trust, Series 2013-1A, Class A, SUB, 3.967%, 11/25/43 (e)		694
		GO Financial Auto Securitization Trust,
	765	Series 2015-1, Class A, 1.810%, 03/15/18 (e)		764
	1,618	Series 2015-1, Class B, 3.590%, 10/15/20 (e)		1,612
	1,804	Series 2015-2, Class A, 3.270%, 11/15/18 (e)		1,813
	1,364	Gold Key Resorts LLC, Series 2014-A, Class A, 3.220%, 03/17/31 (e)		1,367
	1,385	Green Tree Agency Advance Funding Trust I, Series 2015-T1, Class CT1, 3.438%, 10/15/46 (e)		1,384

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 11

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	127	Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-A, Class A3, VAR, 0.724%, 03/25/36		115
		Honda Auto Receivables Owner Trust,
	192	Series 2013-4, Class A3, 0.690%, 09/18/17		192
	438	Series 2014-2, Class A3, 0.770%, 03/19/18		438
	27	Series 2015-1, Class A2, 0.700%, 06/15/17		27
	580	HSBC Home Equity Loan Trust USA, Series 2007-3, Class APT, VAR, 1.712%, 11/20/36		578
		Hyundai Auto Receivables Trust,
	283	Series 2015-B, Class A2A, 0.690%, 04/16/18		283
	931	Series 2015-B, Class A3, 1.120%, 11/15/19		930
	960	Series 2016-A, Class A3, 1.560%, 09/15/20		967
	3,662	Invitation Homes Trust, Series 2014-SFR1, Class A, VAR, 1.507%, 06/17/31 (e)		3,642
		KGS-Alpha SBA COOF Trust,
	9,822	Series 2012-2, Class A, IO, VAR, 0.878%, 08/25/38 (e)		266
	8,158	Series 2013-2, Class A, IO, VAR, 1.596%, 03/25/39 (e)		381
	4,033	Series 2015-2, Class A, IO, VAR, 2.899%, 07/25/41 (e)		535
	1,249	LendingClub Issuance Trust, Series 2016-NP1, Class A, 3.750%, 06/15/22 (e)		1,251
	2,894	Lendmark Funding Trust, Series 2016-A, Class A, 4.820%, 08/21/23 (e)		2,869
	225	Long Beach Mortgage Loan Trust, Series 2006-WL2, Class 2A3, VAR, 0.724%, 01/25/36		218
		LV Tower 52 Issuer LLC,
	3,651	Series 2013-1, Class A, 5.500%, 07/15/19 (e)		3,559
	1,339	Series 2013-1, Class M, 7.500%, 07/15/19 (e)		1,260
		MarketPlace Loan Trust,
	230	Series 2015-OD3, Class A, 3.250%, 09/17/17 (e)		229
	962	Series 2015-OD3, Class B, 5.250%, 09/17/17 (e)		955
	729	Series 2015-OD4, Class A, 3.250%, 12/18/17 (e)		730
	1,087	Series 2015-OD4, Class B, 5.250%, 12/18/17 (e)		1,080
	4,066	Marlette Funding Trust, Series 2016-1A, Class A, 3.060%, 01/17/23 (e)		4,069
	1,776	Mercedes-Benz Auto Receivables Trust, Series 2015-1, Class A2A, 0.820%, 06/15/18		1,775

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	917	Mid-State Capital Corp. Trust, Series 2006-1, Class M1, 6.083%, 10/15/40 (e)		957
		Nationstar HECM Loan Trust,
	161	Series 2015-2A, Class A, 2.883%, 11/25/25 (e)		161
	1,097	Series 2016-1A, Class A, 2.981%, 02/25/26 (e)		1,097
	1,121	Series 2016-1A, Class M1, 4.360%, 02/25/26 (e)		1,121
	446	NCUA Guaranteed Notes Trust, Series 2010-A1, Class A, VAR, 1.015%, 12/07/20		444
	719	New Century Home Equity Loan Trust, Series 2003-5, Class AI6, SUB, 5.171%, 11/25/33		738
		Nissan Auto Receivables Owner Trust,
	698	Series 2014-B, Class A3, 1.110%, 05/15/19		699
	857	Series 2016-B, Class A3, 1.320%, 01/15/21		859
		NRPL Trust,
	2,743	Series 2015-1A, Class A1, SUB, 3.875%, 11/01/54 (e)		2,724
	1,522	Series 2015-1A, Class A2, SUB, 3.875%, 11/01/54 (e)		1,511
	6,487	Series 2015-2A, Class A1, SUB, 3.750%, 10/25/57 (e)		6,344
	1,200	Series 2015-2A, Class A2, SUB, 3.750%, 10/25/57 (e)		1,135
	2,411	NRZ Advance Receivables Trust Advance Receivables Backed Notes, Series 2015-T2, Class DT2, 4.679%, 08/17/48 (e)		2,402
		Oak Hill Advisors Residential Loan Trust,
	2,150	Series 2015-NPL2, Class A1, SUB, 3.721%, 07/25/55 (e)		2,131
	769	Series 2015-NPL2, Class A2, SUB, 4.000%, 07/25/55 (e)		754
		Ocwen Master Advance Receivables Trust,
	2,934	Series 2015-T3, Class AT3, 3.211%, 11/15/47 (e)		2,936
	654	Series 2015-T3, Class BT3, 3.704%, 11/15/47 (e)		654
	487	Series 2015-T3, Class CT3, 4.196%, 11/15/47 (e)		488
	2,500	Series 2015-T3, Class DT3, 4.687%, 11/15/47 (e)		2,501
	1,400	Series 2016-T1, Class AT1, 2.521%, 08/17/48 (e)		1,399
		OnDeck Asset Securitization Trust II LLC,
	2,169	Series 2016-1A, Class A, 4.210%, 05/17/20 (e)		2,180
	1,174	Series 2016-1A, Class B, 7.630%, 05/17/20 (e)		1,191

SEE NOTES TO FINANCIAL STATEMENTS.

12 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
		OneMain Financial Issuance Trust,
	1,825	Series 2014-1A, Class A, 2.430%, 06/18/24 (e)		1,827
	402	Series 2014-1A, Class B, 3.240%, 06/18/24 (e)		403
	3,310	Series 2014-2A, Class A, 2.470%, 09/18/24 (e)		3,315
	1,491	Series 2014-2A, Class B, 3.020%, 09/18/24 (e)		1,488
	4,603	Series 2015-1A, Class A, 3.190%, 03/18/26 (e)		4,653
	550	Series 2015-1A, Class B, 3.850%, 03/18/26 (e)		546
	9,374	Series 2015-2A, Class A, 2.570%, 07/18/25 (e)		9,384
	1,911	Series 2015-2A, Class B, 3.100%, 07/18/25 (e)		1,870
	1,800	Series 2016-1A, Class C, 6.000%, 02/20/29 (e)		1,813
	4,075	Series 2016-2A, Class C, SUB, 7.200%, 03/20/28 (e)		4,071
		Oportun Funding II LLC,
	4,448	Series 2016-A, Class A, 4.700%, 03/08/21 (e)		4,448
	1,622	Series 2016-A, Class B, 6.410%, 03/08/21 (e)		1,621
	255	PFS Tax Lien Trust, Series 2014-1, 1.440%, 05/15/29 (e)		254
		Pretium Mortgage Credit Partners I LLC,
	1,642	Series 2015-NPL2, Class A1, SUB, 3.750%, 07/27/30 (e)		1,643
	2,000	Series 2015-NPL2, Class A2, SUB, 4.250%, 07/27/30 (e)		1,970
		Progreso Receivables Funding III LLC,
	3,531	Series 2015-A, Class A, 3.625%, 02/08/20 (e)		3,532
	906	Series 2015-A, Class B, 5.500%, 02/08/20 (e)		907
		Progreso Receivables Funding IV LLC,
	1,603	Series 2015-B, Class A, 3.000%, 07/28/20 (e)		1,596
	726	Series 2015-B, Class B, 5.000%, 07/28/20 (e)		725
		Progress Residential Trust,
	3,955	Series 2015-SFR2, Class A, 2.740%, 06/12/32 (e)		4,007
	2,012	Series 2015-SFR2, Class B, 3.138%, 06/12/32 (e)		2,035
	2,566	Series 2015-SFR2, Class C, 3.436%, 06/12/32 (e)		2,581

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	1,230	Series 2015-SFR2, Class E, 4.427%, 06/12/32 (e)		1,218
	5,245	Series 2015-SFR3, Class A, 3.067%, 11/12/32 (e)		5,385
	295	Series 2015-SFR3, Class D, 4.673%, 11/12/32 (e)		307
	1,200	Series 2015-SFR3, Class E, 5.660%, 11/12/32 (e)		1,242
		Purchasing Power Funding LLC,
	4,000	Series 2015-A, Class A2, 4.750%, 12/15/19 (e)		4,008
	1,076	Series 2015-A, Class B, 6.000%, 12/15/19 (e)		1,070
	710	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.824%, 03/25/36		705
	979	RBSHD Trust, Series 2013-1A, Class A, SUB, 7.685%, 10/25/47 (e)		979
	292	Renaissance Home Equity Loan Trust, Series 2007-2, Class AF2, SUB, 5.675%, 06/25/37		137
	2,362	RMAT LLC, Series 2015-NPL1, Class A1, SUB, 3.750%, 05/25/55 (e)		2,343
		Santander Drive Auto Receivables Trust,
	878	Series 2015-S1, Class R1, 1.930%, 09/17/19 (e)		871
	70	Series 2015-S2, Class R1, 1.840%, 11/18/19 (e)		69
	638	Series 2015-S7, Class R1, 1.970%, 03/16/21 (e)		633
	191	Saxon Asset Securities Trust, Series 2003-1, Class AF6, SUB, 4.795%, 06/25/33		193
	267	Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.392%, 01/25/36		199
	420	Selene Non-Performing Loans LLC, Series 2014-1A, Class A, SUB, 2.981%, 05/25/54 (e)		417
	584	Skopos Auto Receivables Trust, Series 2015-2A, Class A, 3.550%, 02/15/20 (e)		583
	2,551	SoFi Consumer Loan Program, Series 2016-2A, Class A, 3.090%, 10/27/25 (e)		2,572
		SpringCastle America Funding LLC,
	4,194	Series 2014-AA, Class A, 2.700%, 05/25/23 (e)		4,197
	1,500	Series 2014-AA, Class B, 4.610%, 10/25/27 (e)		1,498
		Springleaf Funding Trust,
	3,744	Series 2014-AA, Class A, 2.410%, 12/15/22 (e)		3,746

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 13

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	525	Series 2014-AA, Class B, 3.450%, 12/15/22 (e)		525
	3,841	Series 2015-AA, Class A, 3.160%, 11/15/24 (e)		3,874
	1,087	Series 2015-AA, Class B, 3.620%, 11/15/24 (e)		1,065
	2,113	Spruce ABS Trust, Series 2016-E1, Class A, 4.320%, 06/15/28 (e)		2,111
		SPS Servicer Advance Receivables Trust Advance Receivables Backed Notes,
	2,499	Series 2015-T2, Class CT2, 3.740%, 01/15/47 (e)		2,499
	1,719	Series 2015-T2, Class DT2, 4.230%, 01/15/47 (e)		1,719
	8,499	Series 2015-T3, Class CT3, 3.910%, 07/15/47 (e)		8,511
	1,422	Sunset Mortgage Loan Co. LLC, Series 2014-NPL2, Class A, SUB, 3.721%, 11/16/44 (e)		1,414
	784	Toyota Auto Receivables Owner Trust, Series 2016-B, Class A3, 1.300%, 04/15/20		784
	4,251	Trafigura Securitisation Finance plc, (Ireland), Series 2014-1A, Class A, VAR, 1.458%, 10/15/18 (e)		4,187
	953	Tricon American Homes Trust, Series 2015-SFR1, Class A, VAR, 1.757%, 05/17/32 (e)		946
		U.S. Residential Opportunity Fund III Trust,
	2,229	Series 2016-1III, Class A, SUB, 3.475%, 07/27/36 (e)		2,230
	2,910	Series 2016-2III, Class A, SUB, 3.475%, 08/27/36 (e)		2,907
	3,078	Vericrest Opportunity Loan Trust, Series 2015-NPL3, Class A1, SUB, 3.375%, 10/25/58 (e)		3,070
	250	Verizon Owner Trust, Series 2016-1A, Class A, 1.420%, 01/20/21 (e)		250
	520	VML LLC, Series 2014-NPL1, Class A1, VAR, 3.875%, 04/27/54 (e)		519
	518	VOLT NPL X LLC, Series 2014-NPL8, Class A1, SUB, 3.375%, 10/26/54 (e)		518
		VOLT XIX LLC,
	1,460	Series 2014-NP11, Class A1, SUB, 3.875%, 04/25/55 (e)		1,463
	400	Series 2014-NP11, Class A2, SUB, 5.000%, 04/25/55 (e)		390
	2,107	VOLT XL LLC, Series 2015-NP14, Class A1, SUB, 4.375%, 11/27/45 (e)		2,128
	983	VOLT XLV LLC, Series 2016-NPL5, Class A1, SUB, 4.000%, 05/25/46 (e)		991

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	2,756		VOLT XLVI LLC, Series 2016-NPL6, Class A1, SUB, 3.844%, 06/25/46 (e)		2,769
			VOLT XXII LLC,
	1,686		Series 2015-NPL4, Class A1, SUB, 3.500%, 02/25/55 (e)		1,688
	666		Series 2015-NPL4, Class A2, SUB, 4.250%, 02/25/55 (e)		638
	1,961		VOLT XXIV LLC, Series 2015-NPL6, Class A1, SUB, 3.500%, 02/25/55 (e)		1,961
	6,676		VOLT XXV LLC, Series 2015-NPL8, Class A1, SUB, 3.500%, 06/26/45 (e)		6,673
			VOLT XXVI LLC,
	1,169		Series 2014-NPL6, Class A1, SUB, 3.125%, 09/25/43 (e)		1,165
	921		Series 2014-NPL6, Class A2, SUB, 4.250%, 09/25/43 (e)		891
	3,643		VOLT XXVII LLC, Series 2014-NPL7, Class A1, SUB, 3.375%, 08/27/57 (e)		3,638
	2,215		VOLT XXX LLC, Series 2015-NPL1, Class A1, SUB, 3.625%, 10/25/57 (e)		2,217
	1,899		VOLT XXXI LLC, Series 2015-NPL2, Class A1, SUB, 3.375%, 02/25/55 (e)		1,898
	1,964		VOLT XXXIII LLC, Series 2015-NPL5, Class A1, SUB, 3.500%, 03/25/55 (e)		1,964
	2,388		VOLT XXXV LLC, Series 2015-NPL9, Class A1, SUB, 3.500%, 06/26/45 (e)		2,387
	999		VOLT XXXIX LLC, Series 2015-NP13, Class A1, SUB, 4.125%, 10/25/45 (e)		1,006
			Westgate Resorts LLC,
	341		Series 2013-1A, Class A, 2.250%, 08/20/25 (e)		341
	406		Series 2015-1A, Class A, 2.750%, 05/20/27 (e)		403
			World Omni Auto Receivables Trust,
	281		Series 2013-B, Class A3, 0.830%, 08/15/18		280
	413		Series 2013-B, Class A4, 1.320%, 01/15/20		414
			Total Asset-Backed Securities (Cost $413,540)		414,034
	Collateralized Mortgage Obligations — 16.9%
			Agency CMO — 12.9%
	122		Federal Home Loan Mortgage Corp. —Government National Mortgage Association, Series 8, Class ZA, 7.000%, 03/25/23		134
			Federal Home Loan Mortgage Corp. REMIC,
	2		Series 22, Class C, 9.500%, 04/15/20		2
	5		Series 23, Class F, 9.600%, 04/15/20		5
	—	(h)	Series 47, Class F, 10.000%, 06/15/20		—	(h)
	2		Series 99, Class Z, 9.500%, 01/15/21		2
	—	(h)	Series 204, Class E, HB, IF, 1,787.516%, 05/15/23		—	(h)

SEE NOTES TO FINANCIAL STATEMENTS.

14 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	—	(h)	Series 1045, Class G, HB, 1,066.208%, 02/15/21		—	(h)
	3		Series 1065, Class J, 9.000%, 04/15/21		3
	1		Series 1079, Class S, HB, IF, 32.274%, 05/15/21		1
	2		Series 1084, Class F, VAR, 1.458%, 05/15/21		2
	1		Series 1084, Class S, HB, IF, 42.941%, 05/15/21		2
	6		Series 1116, Class I, 5.500%, 08/15/21		6
	7		Series 1144, Class KB, 8.500%, 09/15/21		8
	—	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	—	(h)	Series 1196, Class B, HB, IF, 1,137.063%, 01/15/22		2
	6		Series 1250, Class J, 7.000%, 05/15/22		6
	11		Series 1343, Class LA, 8.000%, 08/15/22		12
	14		Series 1343, Class LB, 7.500%, 08/15/22		16
	24		Series 1370, Class JA, VAR, 1.658%, 09/15/22		25
	23		Series 1455, Class WB, IF, 4.421%, 12/15/22		25
	112		Series 1466, Class PZ, 7.500%, 02/15/23		123
	2		Series 1470, Class F, VAR, 1.690%, 02/15/23		2
	124		Series 1498, Class I, VAR, 1.658%, 04/15/23		127
	181		Series 1502, Class PX, 7.000%, 04/15/23		197
	20		Series 1505, Class Q, 7.000%, 05/15/23		23
	48		Series 1518, Class G, IF, 8.591%, 05/15/23		57
	16		Series 1541, Class M, HB, IF, 24.763%, 07/15/23		24
	43		Series 1541, Class O, VAR, 0.840%, 07/15/23		43
	5		Series 1570, Class F, VAR, 2.190%, 08/15/23		5
	161		Series 1573, Class PZ, 7.000%, 09/15/23		178
	95		Series 1591, Class PV, 6.250%, 10/15/23		105
	27		Series 1602, Class SA, HB, IF, 21.100%, 10/15/23		40
	432		Series 1608, Class L, 6.500%, 09/15/23		495
	287		Series 1638, Class H, 6.500%, 12/15/23		329
	205		Series 1642, Class PJ, 6.000%, 11/15/23		224
	14		Series 1671, Class QC, IF, 10.000%, 02/15/24		20
	10		Series 1686, Class SH, IF, 18.095%, 02/15/24		14

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	70	Series 1695, Class EB, 7.000%, 03/15/24		78
	14	Series 1699, Class FC, VAR, 1.108%, 03/15/24		14
	73	Series 1700, Class GA, PO, 02/15/24		70
	183	Series 1706, Class K, 7.000%, 03/15/24		203
	7	Series 1709, Class FA, VAR, 0.730%, 03/15/24		7
	25	Series 1745, Class D, 7.500%, 08/15/24		28
	414	Series 1760, Class ZD, VAR, 1.080%, 02/15/24		413
	152	Series 1798, Class F, 5.000%, 05/15/23		162
	2	Series 1807, Class G, 9.000%, 10/15/20		2
	36	Series 1829, Class ZB, 6.500%, 03/15/26		40
	38	Series 1863, Class Z, 6.500%, 07/15/26		43
	39	Series 1865, Class D, PO, 02/15/24		36
	36	Series 1890, Class H, 7.500%, 09/15/26		41
	112	Series 1899, Class ZE, 8.000%, 09/15/26		128
	6	Series 1935, Class FL, VAR, 1.208%, 02/15/27		6
	79	Series 1963, Class Z, 7.500%, 01/15/27		90
	11	Series 1970, Class PG, 7.250%, 07/15/27		13
	137	Series 1981, Class Z, 6.000%, 05/15/27		152
	50	Series 1987, Class PE, 7.500%, 09/15/27		55
	121	Series 2019, Class Z, 6.500%, 12/15/27		135
	33	Series 2033, Class SN, HB, IF, 28.332%, 03/15/24		16
	94	Series 2038, Class PN, IO, 7.000%, 03/15/28		18
	210	Series 2040, Class PE, 7.500%, 03/15/28		240
	29	Series 2043, Class CJ, 6.500%, 04/15/28		33
	134	Series 2054, Class PV, 7.500%, 05/15/28		154
	281	Series 2075, Class PH, 6.500%, 08/15/28		312
	315	Series 2075, Class PM, 6.250%, 08/15/28		352
	81	Series 2086, Class GB, 6.000%, 09/15/28		92
	130	Series 2089, Class PJ, IO, 7.000%, 10/15/28		15
	365	Series 2095, Class PE, 6.000%, 11/15/28		418
	120	Series 2125, Class JZ, 6.000%, 02/15/29		134
	28	Series 2132, Class SB, HB, IF, 28.410%, 03/15/29		50
	10	Series 2134, Class PI, IO, 6.500%, 03/15/19		1
	158	Series 2136, Class PG, 6.000%, 03/15/29		182
	45	Series 2141, Class IO, IO, 7.000%, 04/15/29		5
	46	Series 2163, Class PC, IO, 7.500%, 06/15/29		6

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 15

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	462		Series 2169, Class TB, 7.000%, 06/15/29		528
	255		Series 2172, Class QC, 7.000%, 07/15/29		288
	222		Series 2176, Class OJ, 7.000%, 08/15/29		258
	123		Series 2201, Class C, 8.000%, 11/15/29		141
	118		Series 2209, Class TC, 8.000%, 01/15/30		142
	208		Series 2210, Class Z, 8.000%, 01/15/30		241
	39		Series 2224, Class CB, 8.000%, 03/15/30		46
	110		Series 2230, Class Z, 8.000%, 04/15/30		128
	84		Series 2234, Class PZ, 7.500%, 05/15/30		98
	80		Series 2247, Class Z, 7.500%, 08/15/30		93
	116		Series 2256, Class MC, 7.250%, 09/15/30		134
	175		Series 2259, Class ZM, 7.000%, 10/15/30		201
	6		Series 2261, Class ZY, 7.500%, 10/15/30		6
	26		Series 2262, Class Z, 7.500%, 10/15/30		31
	225		Series 2271, Class PC, 7.250%, 12/15/30		259
	199		Series 2283, Class K, 6.500%, 12/15/23		220
	104		Series 2296, Class PD, 7.000%, 03/15/31		121
	31		Series 2306, Class K, PO, 05/15/24		29
	72		Series 2306, Class SE, IF, IO, 9.020%, 05/15/24		14
	134		Series 2313, Class LA, 6.500%, 05/15/31		157
	165		Series 2325, Class PM, 7.000%, 06/15/31		194
	1,100		Series 2344, Class ZD, 6.500%, 08/15/31		1,303
	90		Series 2344, Class ZJ, 6.500%, 08/15/31		104
	95		Series 2345, Class NE, 6.500%, 08/15/31		111
	88		Series 2351, Class PZ, 6.500%, 08/15/31		101
	761		Series 2353, Class AZ, 6.000%, 09/15/31		873
	1		Series 2353, Class TD, 6.000%, 09/15/16		1
	—	(h)	Series 2355, Class BP, 6.000%, 09/15/16		—	(h)
	—	(h)	Series 2359, Class PM, 6.000%, 09/15/16		—	(h)
	346		Series 2359, Class ZB, 8.500%, 06/15/31		409
	—	(h)	Series 2360, Class PG, 6.000%, 09/15/16		—	(h)
	1		Series 2366, Class MD, 6.000%, 10/15/16		1
	178		Series 2367, Class ME, 6.500%, 10/15/31		204
	4		Series 2391, Class QR, 5.500%, 12/15/16		4
	3		Series 2394, Class MC, 6.000%, 12/15/16		3
	390		Series 2396, Class FM, VAR, 0.958%, 12/15/31		391
	196		Series 2399, Class OH, 6.500%, 01/15/32		220
	318		Series 2399, Class TH, 6.500%, 01/15/32		356
	304		Series 2410, Class NG, 6.500%, 02/15/32		345
	116		Series 2410, Class OE, 6.375%, 02/15/32		127
	211		Series 2410, Class QS, IF, 18.180%, 02/15/32		332
	119		Series 2410, Class QX, IF, IO, 8.142%, 02/15/32		36

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — continued
	241		Series 2412, Class SP, IF, 15.085%, 02/15/32		322
	348		Series 2420, Class XK, 6.500%, 02/15/32		391
	304		Series 2423, Class MC, 7.000%, 03/15/32		351
	279		Series 2423, Class MT, 7.000%, 03/15/32		323
	11		Series 2425, Class OB, 6.000%, 03/15/17		11
	550		Series 2430, Class WF, 6.500%, 03/15/32		643
	331		Series 2434, Class TC, 7.000%, 04/15/32		387
	362		Series 2435, Class CJ, 6.500%, 04/15/32		418
	255		Series 2436, Class MC, 7.000%, 04/15/32		286
	207		Series 2444, Class ES, IF, IO, 7.442%, 03/15/32		57
	145		Series 2450, Class GZ, 7.000%, 05/15/32		167
	165		Series 2450, Class SW, IF, IO, 7.492%, 03/15/32		41
	679		Series 2455, Class GK, 6.500%, 05/15/32		788
	—	(h)	Series 2458, Class QE, 5.500%, 06/15/17		—	(h)
	239		Series 2462, Class JG, 6.500%, 06/15/32		273
	527		Series 2464, Class SI, IF, IO, 7.492%, 02/15/32		111
	472		Series 2466, Class PH, 6.500%, 06/15/32		544
	272		Series 2474, Class NR, 6.500%, 07/15/32		314
	311		Series 2484, Class LZ, 6.500%, 07/15/32		364
	347		Series 2500, Class MC, 6.000%, 09/15/32		395
	6		Series 2503, Class BH, 5.500%, 09/15/17		6
	42		Series 2508, Class AQ, 5.500%, 10/15/17		43
	279		Series 2512, Class PG, 5.500%, 10/15/22		306
	148		Series 2535, Class BK, 5.500%, 12/15/22		159
	83		Series 2537, Class TE, 5.500%, 12/15/17		85
	532		Series 2543, Class YX, 6.000%, 12/15/32		600
	535		Series 2544, Class HC, 6.000%, 12/15/32		614
	631		Series 2552, Class ME, 6.000%, 01/15/33		728
	655		Series 2567, Class QD, 6.000%, 02/15/33		753
	373		Series 2568, Class KG, 5.500%, 02/15/23		411
	68		Series 2571, Class SK, HB, IF, 32.311%, 09/15/23		115
	1,470		Series 2575, Class ME, 6.000%, 02/15/33		1,619
	194		Series 2586, Class WI, IO, 6.500%, 03/15/33		33
	193		Series 2587, Class WX, 5.000%, 03/15/18		198
	410		Series 2596, Class QG, 6.000%, 03/15/33		451
	74		Series 2611, Class UH, 4.500%, 05/15/18		76
	138		Series 2617, Class GR, 4.500%, 05/15/18		141
	108		Series 2626, Class NS, IF, IO, 6.042%, 06/15/23		4
	154		Series 2631, Class LC, 4.500%, 06/15/18		158

SEE NOTES TO FINANCIAL STATEMENTS.

16 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	76	Series 2636, Class Z, 4.500%, 06/15/18		78
	106	Series 2637, Class SA, IF, IO, 5.592%, 06/15/18		4
	24	Series 2638, Class DS, IF, 8.092%, 07/15/23		26
	79	Series 2650, Class PO, PO, 12/15/32		78
	449	Series 2650, Class SO, PO, 12/15/32		438
	115	Series 2651, Class VZ, 4.500%, 07/15/18		118
	583	Series 2675, Class CK, 4.000%, 09/15/18		595
	84	Series 2692, Class SC, IF, 12.271%, 07/15/33		96
	174	Series 2695, Class DG, 4.000%, 10/15/18		178
	888	Series 2710, Class HB, 5.500%, 11/15/23		973
	574	Series 2716, Class UN, 4.500%, 12/15/23		610
	282	Series 2720, Class PC, 5.000%, 12/15/23		306
	147	Series 2744, Class PE, 5.500%, 02/15/34		156
	190	Series 2744, Class TU, 5.500%, 05/15/32		193
	5	Series 2780, Class JG, 4.500%, 04/15/19		5
	347	Series 2783, Class AT, 4.000%, 04/15/19		354
	886	Series 2809, Class UC, 4.000%, 06/15/19		907
	44	Series 2835, Class QO, PO, 12/15/32		40
	35	Series 2840, Class JO, PO, 06/15/23		34
	90	Series 2922, Class JN, 4.500%, 02/15/20		92
	285	Series 2934, Class EC, PO, 02/15/20		278
	237	Series 2934, Class HI, IO, 5.000%, 02/15/20		14
	203	Series 2934, Class KI, IO, 5.000%, 02/15/20		11
	144	Series 2958, Class QD, 4.500%, 04/15/20		147
	890	Series 2965, Class GD, 4.500%, 04/15/20		918
	16	Series 2989, Class PO, PO, 06/15/23		16
	3,119	Series 2990, Class UZ, 5.750%, 06/15/35		3,582
	1,233	Series 3004, Class EK, 5.500%, 07/15/35		1,359
	65	Series 3014, Class OD, PO, 08/15/35		63
	944	Series 3047, Class OD, 5.500%, 10/15/35		1,089
	3,095	Series 3064, Class MC, 5.500%, 11/15/35		3,611
	10	Series 3068, Class AO, PO, 01/15/35		10
	139	Series 3068, Class QB, 4.500%, 06/15/20		142
	1,249	Series 3074, Class BH, 5.000%, 11/15/35		1,359
	297	Series 3085, Class WF, VAR, 1.308%, 08/15/35		302
	502	Series 3102, Class FB, VAR, 0.808%, 01/15/36		502
	119	Series 3102, Class HS, HB, IF, 22.705%, 01/15/36		190
	600	Series 3117, Class EO, PO, 02/15/36		552

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	347	Series 3117, Class OK, PO, 02/15/36		307
	20	Series 3122, Class ZB, 6.000%, 03/15/36		26
	1,216	Series 3131, Class BK, 5.500%, 03/15/26		1,337
	103	Series 3134, Class PO, PO, 03/15/36		95
	495	Series 3138, Class PO, PO, 04/15/36		453
	31	Series 3149, Class SO, PO, 05/15/36		28
	313	Series 3151, Class UC, 5.500%, 08/15/35		326
	445	Series 3152, Class MO, PO, 03/15/36		423
	112	Series 3171, Class MO, PO, 06/15/36		107
	404	Series 3179, Class OA, PO, 07/15/36		379
	82	Series 3194, Class SA, IF, IO, 6.592%, 07/15/36		9
	415	Series 3211, Class SO, PO, 09/15/36		383
	188	Series 3218, Class AO, PO, 09/15/36		161
	374	Series 3219, Class DI, IO, 6.000%, 04/15/36		66
	1,040	Series 3229, Class HE, 5.000%, 10/15/26		1,131
	385	Series 3232, Class ST, IF, IO, 6.192%, 10/15/36		69
	158	Series 3233, Class OP, PO, 05/15/36		150
	254	Series 3256, Class PO, PO, 12/15/36		232
	566	Series 3260, Class CS, IF, IO, 5.632%, 01/15/37		79
	298	Series 3261, Class OA, PO, 01/15/37		284
	143	Series 3274, Class JO, PO, 02/15/37		134
	106	Series 3275, Class FL, VAR, 0.948%, 02/15/37		107
	638	Series 3290, Class SB, IF, IO, 5.942%, 03/15/37		103
	1,039	Series 3315, Class HZ, 6.000%, 05/15/37		1,108
	42	Series 3318, Class AO, PO, 05/15/37		38
	69	Series 3326, Class JO, PO, 06/15/37		66
	304	Series 3331, Class PO, PO, 06/15/37		288
	265	Series 3385, Class SN, IF, IO, 5.492%, 11/15/37		35
	421	Series 3387, Class SA, IF, IO, 5.912%, 11/15/37		70
	689	Series 3404, Class SC, IF, IO, 5.492%, 01/15/38		102
	4,127	Series 3422, Class AI, IO, SUB, 0.250%, 01/15/38		50
	470	Series 3424, Class PI, IF, IO, 6.292%, 04/15/38		74
	864	Series 3481, Class SJ, IF, IO, 5.342%, 08/15/38		104
	599	Series 3511, Class SA, IF, IO, 5.492%, 02/15/39		107

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 17

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	173	Series 3549, Class FA, VAR, 1.708%, 07/15/39		176
	235	Series 3607, Class BO, PO, 04/15/36		224
	790	Series 3607, Class OP, PO, 07/15/37		723
	414	Series 3607, Class PO, PO, 05/15/37		370
	109	Series 3611, Class PO, PO, 07/15/34		104
	319	Series 3621, Class BO, PO, 01/15/40		293
	365	Series 3720, Class A, 4.500%, 09/15/25		394
	494	Series 3739, Class LI, IO, 4.000%, 03/15/34		6
	1,870	Series 3747, Class HI, IO, 4.500%, 07/15/37		69
	1,000	Series 3747, Class PY, 4.000%, 10/15/40		1,122
	1,102	Series 3759, Class HI, IO, 4.000%, 08/15/37		45
	981	Series 3760, Class GI, IO, 4.000%, 10/15/37		31
	9,334	Series 3774, Class EW, 3.500%, 12/15/25		10,030
	5,000	Series 3793, Class AB, 3.500%, 01/15/26		5,400
	23	Series 3798, Class BF, VAR, 0.808%, 06/15/24		23
	304	Series 3804, Class FN, VAR, 0.958%, 03/15/39		305
	2,104	Series 3819, Class ZQ, 6.000%, 04/15/36		2,399
	496	Series 3852, Class QN, IF, 5.500%, 05/15/41		548
	1,516	Series 3852, Class TP, IF, 5.500%, 05/15/41		1,634
	1,616	Series 3920, Class LP, 5.000%, 01/15/34		1,795
	1,018	Series 3925, Class FL, VAR, 0.958%, 01/15/41		1,019
	774	Series 3957, Class B, 4.000%, 11/15/41		829
	1,048	Series 3966, Class NA, 4.000%, 12/15/41		1,135
	552	Series 3997, Class PF, VAR, 0.958%, 11/15/39		554
	2,408	Series 4048, Class FJ, VAR, 0.867%, 07/15/37		2,374
	2,000	Series 4217, Class KY, 3.000%, 06/15/43		2,081
	6,189	Series 4219, Class JA, 3.500%, 08/15/39		6,513
	2,501	Series 4240, Class B, 3.000%, 08/15/33		2,633
	3,684	Series 4251, Class KW, 2.500%, 04/15/28		3,700
	5,058	Series 4374, Class NC, SUB, 2.750%, 02/15/46		5,238
		Federal Home Loan Mortgage Corp. STRIPS,
	1	Series 134, Class B, IO, 9.000%, 04/01/22		—	(h)
	781	Series 233, Class 11, IO, 5.000%, 09/15/35		114
	1,110	Series 233, Class 13, IO, 5.000%, 09/15/35		166
	142	Series 243, Class 16, IO, 4.500%, 11/15/20		6

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	337	Series 243, Class 17, IO, 4.500%, 12/15/20		17
	7,055	Series 262, Class 35, 3.500%, 07/15/42		7,508
	1,896	Series 264, Class F1, VAR, 1.058%, 07/15/42		1,895
	7,156	Series 299, Class 300, 3.000%, 01/15/43		7,445
	2,156	Series 310, Class PO, PO, 09/15/43		1,880
	4,233	Series 323, Class 300, 3.000%, 01/15/44		4,407
		Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	427	Series T-41, Class 3A, VAR, 5.853%, 07/25/32		456
	259	Series T-51, Class 2A, VAR, 7.500%, 08/25/42		319
	1,532	Series T-54, Class 2A, 6.500%, 02/25/43		1,845
	448	Series T-54, Class 3A, 7.000%, 02/25/43		538
	172	Series T-58, Class APO, PO, 09/25/43		151
	386	Series T-59, Class 1AP, PO, 10/25/43		326
	1,557	Series T-76, Class 2A, VAR, 1.665%, 10/25/37		1,639
		Federal National Mortgage Association — ACES,
	3,022	Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		3,256
	1,416	Series 2011-M2, Class A2, 3.645%, 04/25/21		1,521
	8,500	Series 2011-M2, Class A3, 3.764%, 04/25/21		9,235
	185	Series 2012-M11, Class FA, VAR, 0.980%, 08/25/19		184
	1,878	Series 2013-M7, Class A2, 2.280%, 12/27/22		1,925
	2,664	Series 2014-M2, Class A2, VAR, 3.513%, 12/25/23		2,926
	2,500	Series 2014-M3, Class A2, VAR, 3.501%, 01/25/24		2,717
	57	Series 2014-M5, Class FA, VAR, 0.825%, 01/25/17		57
	7,700	Series 2014-M12, Class ASV2, VAR, 2.614%, 10/25/21		8,038
	8,555	Series 2015-M10, Class A2, VAR, 3.092%, 04/25/27		9,155
		Federal National Mortgage Association Grantor Trust,
	746	Series 2002-T19, Class A2, 7.000%, 07/25/42		901
	584	Series 2004-T3, Class 1A3, 7.000%, 02/25/44		697
		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		5

SEE NOTES TO FINANCIAL STATEMENTS.

18 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	2		Series 1989-78, Class H, 9.400%, 11/25/19		2
	4		Series 1989-83, Class H, 8.500%, 11/25/19		4
	2		Series 1989-89, Class H, 9.000%, 11/25/19		2
	4		Series 1990-1, Class D, 8.800%, 01/25/20		4
	—	(h)	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)
	9		Series 1990-102, Class J, 6.500%, 08/25/20		9
	8		Series 1990-120, Class H, 9.000%, 10/25/20		9
	1		Series 1990-134, Class SC, HB, IF, 20.813%, 11/25/20		1
	—	(h)	Series 1990-140, Class K, HB, 652.145%, 12/25/20		1
	4		Series 1991-24, Class Z, 5.000%, 03/25/21		4
	1		Series 1992-101, Class J, 7.500%, 06/25/22		1
	22		Series 1992-136, Class PK, 6.000%, 08/25/22		23
	15		Series 1992-143, Class MA, 5.500%, 09/25/22		16
	56		Series 1992-163, Class M, 7.750%, 09/25/22		62
	92		Series 1992-188, Class PZ, 7.500%, 10/25/22		102
	35		Series 1993-21, Class KA, 7.700%, 03/25/23		39
	55		Series 1993-25, Class J, 7.500%, 03/25/23		61
	14		Series 1993-27, Class SA, IF, 15.500%, 02/25/23		19
	21		Series 1993-62, Class SA, IF, 18.923%, 04/25/23		29
	11		Series 1993-165, Class SD, IF, 13.393%, 09/25/23		14
	24		Series 1993-165, Class SK, IF, 12.500%, 09/25/23		27
	17		Series 1993-179, Class SB, HB, IF, 26.731%, 10/25/23		27
	11		Series 1993-179, Class SC, IF, 10.500%, 10/25/23		14
	5		Series 1993-199, Class FA, VAR, 1.074%, 10/25/23		5
	31		Series 1993-205, Class H, PO, 09/25/23		30

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — continued
	51		Series 1993-225, Class UB, 6.500%, 12/25/23		57
	17		Series 1993-230, Class FA, VAR, 1.124%, 12/25/23		17
	43		Series 1993-247, Class FE, VAR, 1.524%, 12/25/23		43
	20		Series 1993-247, Class SU, IF, 12.260%, 12/25/23		25
	172		Series 1994-37, Class L, 6.500%, 03/25/24		190
	931		Series 1994-40, Class Z, 6.500%, 03/25/24		1,016
	41		Series 1995-2, Class Z, 8.500%, 01/25/25		47
	209		Series 1995-19, Class Z, 6.500%, 11/25/23		241
	184		Series 1996-14, Class SE, IF, IO, 9.170%, 08/25/23		40
	—	(h)	Series 1996-27, Class FC, VAR, 1.024%, 03/25/17		—	(h)
	15		Series 1996-59, Class J, 6.500%, 08/25/22		16
	154		Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		5
	14		Series 1997-27, Class J, 7.500%, 04/18/27		16
	32		Series 1997-29, Class J, 7.500%, 04/20/27		37
	220		Series 1997-39, Class PD, 7.500%, 05/20/27		257
	17		Series 1997-42, Class ZC, 6.500%, 07/18/27		20
	347		Series 1997-61, Class ZC, 7.000%, 02/25/23		384
	58		Series 1997-81, Class PI, IO, 7.000%, 12/18/27		6
	8		Series 1998-4, Class C, PO, 04/25/23		8
	101		Series 1998-36, Class ZB, 6.000%, 07/18/28		115
	62		Series 1998-43, Class SA, IF, IO, 19.057%, 04/25/23		24
	111		Series 1998-66, Class SB, IF, IO, 7.626%, 12/25/28		19
	67		Series 1999-17, Class C, 6.350%, 04/25/29		74
	256		Series 1999-18, Class Z, 5.500%, 04/18/29		285
	27		Series 1999-38, Class SK, IF, IO, 7.526%, 08/25/23		2
	32		Series 1999-52, Class NS, HB, IF, 21.912%, 10/25/23		47
	95		Series 1999-62, Class PB, 7.500%, 12/18/29		111
	305		Series 2000-2, Class ZE, 7.500%, 02/25/30		350
	187		Series 2000-20, Class SA, IF, IO, 8.576%, 07/25/30		48

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 19

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	24		Series 2000-52, Class IO, IO, 8.500%, 01/25/31		4
	74		Series 2001-4, Class PC, 7.000%, 03/25/21		80
	69		Series 2001-7, Class PF, 7.000%, 03/25/31		80
	194		Series 2001-30, Class PM, 7.000%, 07/25/31		221
	212		Series 2001-33, Class ID, IO, 6.000%, 07/25/31		41
	194		Series 2001-36, Class DE, 7.000%, 08/25/31		226
	471		Series 2001-44, Class MY, 7.000%, 09/25/31		542
	64		Series 2001-44, Class PD, 7.000%, 09/25/31		73
	80		Series 2001-44, Class PU, 7.000%, 09/25/31		92
	553		Series 2001-48, Class Z, 6.500%, 09/25/21		614
	49		Series 2001-49, Class Z, 6.500%, 09/25/31		57
	60		Series 2001-52, Class KB, 6.500%, 10/25/31		67
	631		Series 2001-61, Class Z, 7.000%, 11/25/31		716
	1		Series 2001-71, Class MB, 6.000%, 12/25/16		1
	—	(h)	Series 2001-71, Class QE, 6.000%, 12/25/16		—	(h)
	21		Series 2001-72, Class SX, IF, 16.245%, 12/25/31		30
	4		Series 2001-74, Class MB, 6.000%, 12/25/16		4
	51		Series 2002-1, Class HC, 6.500%, 02/25/22		56
	57		Series 2002-1, Class SA, HB, IF, 23.483%, 02/25/32		98
	43		Series 2002-1, Class UD, HB, IF, 22.665%, 12/25/23		64
	10		Series 2002-2, Class UC, 6.000%, 02/25/17		11
	5		Series 2002-3, Class OG, 6.000%, 02/25/17		5
	—	(h)	Series 2002-7, Class OG, 6.000%, 03/25/17		—	(h)
	6		Series 2002-10, Class SB, IF, 17.941%, 03/25/17		6
	701		Series 2002-13, Class SJ, IF, IO, 1.600%, 03/25/32		36
	10		Series 2002-13, Class ST, IF, 10.000%, 03/25/32		13
	2		Series 2002-19, Class PE, 6.000%, 04/25/17		2
	20		Series 2002-21, Class LO, PO, 04/25/32		19
	197		Series 2002-21, Class PE, 6.500%, 04/25/32		224

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	24	Series 2002-24, Class AJ, 6.000%, 04/25/17		25
	9	Series 2002-25, Class SG, IF, 18.061%, 05/25/17		9
	503	Series 2002-28, Class PK, 6.500%, 05/25/32		563
	121	Series 2002-37, Class Z, 6.500%, 06/25/32		140
	28	Series 2002-42, Class C, 6.000%, 07/25/17		29
	676	Series 2002-48, Class GH, 6.500%, 08/25/32		786
	64	Series 2002-62, Class ZE, 5.500%, 11/25/17		65
	22	Series 2002-63, Class KC, 5.000%, 10/25/17		23
	107	Series 2002-77, Class S, IF, 13.522%, 12/25/32		132
	360	Series 2002-83, Class CS, 6.881%, 08/25/23		396
	61	Series 2002-94, Class BK, 5.500%, 01/25/18		62
	97	Series 2003-3, Class HJ, 5.000%, 02/25/18		98
	2,253	Series 2003-22, Class UD, 4.000%, 04/25/33		2,419
	698	Series 2003-33, Class IA, IO, 6.500%, 05/25/33		127
	455	Series 2003-34, Class AX, 6.000%, 05/25/33		523
	1,516	Series 2003-34, Class ED, 6.000%, 05/25/33		1,704
	28	Series 2003-35, Class UC, 3.750%, 05/25/33		29
	85	Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		18
	709	Series 2003-39, Class LW, 5.500%, 05/25/23		766
	448	Series 2003-41, Class PE, 5.500%, 05/25/23		481
	134	Series 2003-42, Class GB, 4.000%, 05/25/33		144
	316	Series 2003-47, Class PE, 5.750%, 06/25/33		359
	112	Series 2003-52, Class SX, HB, IF, 21.377%, 10/25/31		167
	94	Series 2003-64, Class SX, IF, 12.515%, 07/25/33		119
	458	Series 2003-71, Class DS, IF, 6.808%, 08/25/33		519
	729	Series 2003-72, Class IE, IO, 5.500%, 08/25/33		121

SEE NOTES TO FINANCIAL STATEMENTS.

20 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	61	Series 2003-74, Class SH, IF, 9.226%, 08/25/33		71
	103	Series 2003-76, Class GQ, 4.500%, 08/25/18		106
	153	Series 2003-80, Class SY, IF, IO, 7.126%, 06/25/23		4
	187	Series 2003-81, Class LC, 4.500%, 09/25/18		192
	560	Series 2003-83, Class PG, 5.000%, 06/25/23		582
	159	Series 2003-91, Class SD, IF, 11.626%, 09/25/33		194
	1,005	Series 2003-116, Class SB, IF, IO, 7.076%, 11/25/33		225
	111	Series 2003-128, Class NG, 4.000%, 01/25/19		113
	49	Series 2003-130, Class SX, IF, 10.733%, 01/25/34		60
	76	Series 2003-132, Class OA, PO, 08/25/33		73
	921	Series 2004-4, Class QI, IF, IO, 6.576%, 06/25/33		93
	87	Series 2004-4, Class QM, IF, 13.151%, 06/25/33		107
	345	Series 2004-10, Class SC, HB, IF, 26.502%, 02/25/34		418
	240	Series 2004-25, Class PC, 5.500%, 01/25/34		249
	629	Series 2004-25, Class SA, IF, 18.083%, 04/25/34		936
	748	Series 2004-27, Class HB, 4.000%, 05/25/19		767
	165	Series 2004-36, Class PC, 5.500%, 02/25/34		172
	943	Series 2004-36, Class SA, IF, 18.083%, 05/25/34		1,454
	228	Series 2004-36, Class SN, IF, 13.151%, 07/25/33		257
	359	Series 2004-46, Class QB, HB, IF, 21.902%, 05/25/34		543
	1,135	Series 2004-46, Class SK, IF, 15.058%, 05/25/34		1,497
	179	Series 2004-51, Class SY, IF, 13.191%, 07/25/34		239
	193	Series 2004-53, Class NC, 5.500%, 07/25/24		210
	242	Series 2004-59, Class BG, PO, 12/25/32		229
	605	Series 2004-61, Class FH, VAR, 1.324%, 11/25/32		619

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	80	Series 2004-61, Class SK, IF, 8.500%, 11/25/32		96
	77	Series 2004-76, Class CL, 4.000%, 10/25/19		79
	292	Series 2004-79, Class SP, IF, 18.358%, 11/25/34		367
	35	Series 2004-81, Class AC, 4.000%, 11/25/19		36
	35	Series 2005-52, Class PA, 6.500%, 06/25/35		37
	1,007	Series 2005-56, Class S, IF, IO, 6.186%, 07/25/35		196
	240	Series 2005-66, Class SG, IF, 16.064%, 07/25/35		356
	349	Series 2005-68, Class BC, 5.250%, 06/25/35		370
	1,020	Series 2005-68, Class PG, 5.500%, 08/25/35		1,155
	472	Series 2005-68, Class UC, 5.000%, 06/25/35		495
	430	Series 2005-74, Class CS, IF, 18.578%, 05/25/35		609
	3,439	Series 2005-84, Class XM, 5.750%, 10/25/35		3,749
	1,406	Series 2005-109, Class PC, 6.000%, 12/25/35		1,564
	4,326	Series 2005-110, Class GL, 5.500%, 12/25/35		5,084
	830	Series 2005-110, Class MN, 5.500%, 06/25/35		864
	74	Series 2006-15, Class OT, PO, 01/25/36		72
	332	Series 2006-16, Class OA, PO, 03/25/36		305
	493	Series 2006-22, Class AO, PO, 04/25/36		451
	130	Series 2006-23, Class KO, PO, 04/25/36		118
	1,217	Series 2006-39, Class WC, 5.500%, 01/25/36		1,333
	706	Series 2006-44, Class GO, PO, 06/25/36		668
	1,637	Series 2006-44, Class P, PO, 12/25/33		1,561
	1,019	Series 2006-46, Class UC, 5.500%, 12/25/35		1,107
	1,078	Series 2006-53, Class US, IF, IO, 6.056%, 06/25/36		155
	995	Series 2006-56, Class FC, VAR, 0.814%, 07/25/36		992
	556	Series 2006-56, Class PO, PO, 07/25/36		502
	633	Series 2006-58, Class AP, PO, 07/25/36		605
	79	Series 2006-58, Class FL, VAR, 0.984%, 07/25/36		79

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 21

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	316	Series 2006-58, Class PO, PO, 07/25/36		301
	234	Series 2006-59, Class QO, PO, 01/25/33		229
	3,866	Series 2006-60, Class DZ, 6.500%, 07/25/36		5,045
	478	Series 2006-65, Class QO, PO, 07/25/36		440
	96	Series 2006-72, Class TO, PO, 08/25/36		92
	1,848	Series 2006-77, Class PC, 6.500%, 08/25/36		2,136
	394	Series 2006-79, Class DO, PO, 08/25/36		371
	333	Series 2006-90, Class AO, PO, 09/25/36		314
	138	Series 2006-109, Class PO, PO, 11/25/36		132
	929	Series 2006-110, Class PO, PO, 11/25/36		889
	91	Series 2006-111, Class EO, PO, 11/25/36		87
	605	Series 2006-118, Class A2, VAR, 0.584%, 12/25/36		604
	92	Series 2006-119, Class PO, PO, 12/25/36		87
	1,348	Series 2006-124, Class HB, VAR, 5.358%, 11/25/36		1,426
	709	Series 2006-128, Class BP, 5.500%, 01/25/37		760
	576	Series 2006-130, Class GI, IO, 6.500%, 07/25/32		96
	785	Series 2007-7, Class SG, IF, IO, 5.976%, 08/25/36		219
	1,458	Series 2007-14, Class ES, IF, IO, 5.916%, 03/25/37		258
	129	Series 2007-15, Class NO, PO, 03/25/22		124
	406	Series 2007-16, Class FC, VAR, 1.274%, 03/25/37		411
	134	Series 2007-42, Class AO, PO, 05/25/37		129
	218	Series 2007-48, Class PO, PO, 05/25/37		205
	602	Series 2007-54, Class FA, VAR, 0.924%, 06/25/37		602
	3,584	Series 2007-60, Class AX, IF, IO, 6.626%, 07/25/37		839
	150	Series 2007-77, Class FG, VAR, 1.024%, 03/25/37		151
	988	Series 2007-81, Class GE, 6.000%, 08/25/37		1,082
	2,344	Series 2007-88, Class VI, IF, IO, 6.016%, 09/25/37		487
	1,723	Series 2007-91, Class ES, IF, IO, 5.936%, 10/25/37		257
	1,171	Series 2007-97, Class KI, IO, 7.000%, 05/25/33		143
	1,207	Series 2007-101, Class A2, VAR, 0.774%, 06/27/36		1,179

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	395	Series 2007-106, Class A7, VAR, 6.150%, 10/25/37		441
	1,186	Series 2007-114, Class A6, VAR, 0.724%, 10/27/37		1,184
	1,721	Series 2007-116, Class HI, IO, VAR, 1.641%, 01/25/38		123
	812	Series 2008-1, Class BI, IF, IO, 5.386%, 02/25/38		134
	493	Series 2008-10, Class XI, IF, IO, 5.706%, 03/25/38		73
	274	Series 2008-16, Class IS, IF, IO, 5.676%, 03/25/38		44
	206	Series 2008-19, Class IC, IO, 5.000%, 03/25/23		7
	220	Series 2008-24, Class DY, 5.000%, 04/25/23		226
	340	Series 2008-27, Class SN, IF, IO, 6.376%, 04/25/38		56
	94	Series 2008-39, Class CI, IO, 4.500%, 05/25/18		3
	235	Series 2008-42, Class AO, PO, 09/25/36		226
	25	Series 2008-44, Class PO, PO, 05/25/38		24
	358	Series 2008-47, Class SI, IF, IO, 5.976%, 06/25/23		30
	497	Series 2008-53, Class CI, IF, IO, 6.676%, 07/25/38		93
	107	Series 2008-76, Class GF, VAR, 1.174%, 09/25/23		107
	1,112	Series 2008-80, Class SA, IF, IO, 5.326%, 09/25/38		159
	763	Series 2008-81, Class SB, IF, IO, 5.326%, 09/25/38		115
	981	Series 2009-6, Class GS, IF, IO, 6.026%, 02/25/39		204
	359	Series 2009-9, Class IO, IO, 5.000%, 02/25/24		23
	277	Series 2009-18, Class IO, IO, 5.000%, 03/25/24		14
	1,981	Series 2009-19, Class IP, IO, 5.500%, 10/25/36		297
	764	Series 2009-60, Class HT, 6.000%, 08/25/39		875
	485	Series 2009-62, Class HJ, 6.000%, 05/25/39		538
	764	Series 2009-70, Class CO, PO, 01/25/37		702
	377	Series 2009-99, Class SC, IF, IO, 5.656%, 12/25/39		56
	834	Series 2009-103, Class MB, VAR, 2.800%, 12/25/39		879

SEE NOTES TO FINANCIAL STATEMENTS.

22 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	465	Series 2010-45, Class BD, 4.500%, 11/25/38		477
	907	Series 2010-49, Class SC, IF, 11.611%, 03/25/40		1,164
	538	Series 2010-64, Class DM, 5.000%, 06/25/40		596
	681	Series 2010-71, Class HJ, 5.500%, 07/25/40		762
	2,258	Series 2010-147, Class SA, IF, IO, 6.006%, 01/25/41		532
	540	Series 2010-148, Class MA, 4.000%, 02/25/39		556
	646	Series 2011-2, Class WA, VAR, 5.822%, 02/25/51		714
	1,080	Series 2011-22, Class MA, 6.500%, 04/25/38		1,185
	2,474	Series 2011-30, Class LS, IO, VAR, 1.880%, 04/25/41		176
	2,500	Series 2011-31, Class DB, 3.500%, 04/25/31		2,686
	7,500	Series 2011-44, Class EB, 3.000%, 05/25/26		7,919
	536	Series 2011-75, Class FA, VAR, 1.038%, 08/25/41		543
	1,116	Series 2011-118, Class MT, 7.000%, 11/25/41		1,326
	1,548	Series 2011-130, Class CA, 6.000%, 12/25/41		1,799
	840	Series 2012-14, Class FB, VAR, 0.974%, 08/25/37		843
	3,000	Series 2012-66, Class CB, 3.000%, 06/25/32		3,127
	3,985	Series 2012-99, Class AE, 2.500%, 05/25/39		4,052
	2,736	Series 2012-108, Class F, VAR, 1.024%, 10/25/42		2,739
	2,000	Series 2013-81, Class TA, 3.000%, 02/25/43		1,996
	1,694	Series 2013-90, Class PM, 3.500%, 09/25/43		1,842
	2,022	Series 2013-92, Class PO, PO, 09/25/43		1,735
	3,349	Series 2013-101, Class AE, 3.000%, 10/25/33		3,537
	3,081	Series 2013-101, Class DO, PO, 10/25/43		2,656
	3,000	Series 2013-101, Class E, 3.000%, 10/25/33		3,117
	3,500	Series 2013-103, Class VG, 3.000%, 03/25/30		3,682

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — continued
	4,000		Series 2013-108, Class GU, 3.000%, 10/25/33		4,217
	3,990		Series 2013-128, Class PO, PO, 12/25/43		3,422
	—	(h)	Series G-17, Class S, HB, VAR, 1,026.982%, 06/25/21		1
	9		Series G-28, Class S, IF, 14.576%, 09/25/21		10
	13		Series G-35, Class M, 8.750%, 10/25/21		14
	4		Series G-51, Class SA, HB, IF, 26.181%, 12/25/21		5
	72		Series G92-35, Class E, 7.500%, 07/25/22		80
	—	(h)	Series G92-35, Class G, HB, 1,184.775%, 07/25/22		1
	9		Series G92-42, Class Z, 7.000%, 07/25/22		10
	36		Series G92-44, Class ZQ, 8.000%, 07/25/22		38
	12		Series G92-52, Class FD, VAR, 0.545%, 09/25/22		12
	74		Series G92-54, Class ZQ, 7.500%, 09/25/22		81
	10		Series G92-59, Class F, VAR, 1.390%, 10/25/22		10
	24		Series G92-61, Class Z, 7.000%, 10/25/22		26
	17		Series G92-62, Class B, PO, 10/25/22		16
	82		Series G93-1, Class KA, 7.900%, 01/25/23		93
	19		Series G93-5, Class Z, 6.500%, 02/25/23		22
	25		Series G93-14, Class J, 6.500%, 03/25/23		27
	55		Series G93-17, Class SI, IF, 6.000%, 04/25/23		63
	49		Series G93-27, Class FD, VAR, 1.404%, 08/25/23		50
	12		Series G93-37, Class H, PO, 09/25/23		11
	29		Series G95-1, Class C, 8.800%, 01/25/25		33
			Federal National Mortgage Association REMIC Trust,
	696		Series 2003-W1, Class 1A1, VAR, 5.632%, 12/25/42		790
	282		Series 2003-W1, Class 2A, VAR, 6.307%, 12/25/42		331
	87		Series 2003-W4, Class 2A, VAR, 6.264%, 10/25/42		99
	32		Series 2007-W7, Class 1A4, HB, IF, 36.034%, 07/25/37		49
	1,372		Series 2009-W1, Class A, 6.000%, 12/25/49		1,573
			Federal National Mortgage Association STRIPS,
	—	(h)	Series 23, Class 2, IO, 10.000%, 09/25/17		—	(h)
	—	(h)	Series 50, Class 2, IO, 10.500%, 03/25/19		—	(h)
	7		Series 218, Class 2, IO, 7.500%, 04/25/23		1
	8		Series 265, Class 2, 9.000%, 03/25/24		10

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 23

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	90	Series 329, Class 1, PO, 01/25/33		82
	109	Series 339, Class 18, IO, 4.500%, 07/25/18		3
	158	Series 339, Class 21, IO, 4.500%, 08/25/18		3
	68	Series 339, Class 28, IO, 5.500%, 08/25/18		2
	126	Series 345, Class 6, IO, VAR, 5.000%, 12/25/33		22
	419	Series 351, Class 7, IO, VAR, 5.000%, 04/25/34		77
	338	Series 355, Class 11, IO, 6.000%, 07/25/34		60
	80	Series 355, Class 31, IO, VAR, 4.500%, 12/25/18		3
	583	Series 365, Class 8, IO, 5.500%, 05/25/36		107
	44	Series 368, Class 3, IO, 4.500%, 11/25/20		2
	296	Series 374, Class 5, IO, 5.500%, 08/25/36		55
	143	Series 383, Class 32, IO, 6.000%, 01/25/38		27
	378	Series 383, Class 33, IO, 6.000%, 01/25/38		64
	107	Series 393, Class 6, IO, 5.500%, 04/25/37		17
		Federal National Mortgage Association Trust,
	185	Series 2004-W1, Class 2A2, 7.000%, 12/25/33		221
	451	Series 2004-W2, Class 2A2, 7.000%, 02/25/44		526
	610	Series 2004-W15, Class 2AF, VAR, 0.774%, 08/25/44		607
	1,691	Series 2005-W3, Class 2AF, VAR, 0.744%, 03/25/45		1,645
	570	Series 2006-W2, Class 1AF1, VAR, 0.744%, 02/25/46		570
		Government National Mortgage Association,
	899	Series 1994-7, Class PQ, 6.500%, 10/16/24		1,016
	648	Series 1999-4, Class ZB, 6.000%, 02/20/29		729
	70	Series 1999-30, Class S, IF, IO, 8.093%, 08/16/29		17
	154	Series 1999-40, Class ZW, 7.500%, 11/20/29		179
	102	Series 2000-9, Class Z, 8.000%, 06/20/30		122
	886	Series 2000-9, Class ZJ, 8.500%, 02/16/30		1,044
	1,208	Series 2000-21, Class Z, 9.000%, 03/16/30		1,465
	194	Series 2000-31, Class Z, 9.000%, 10/20/30		225
	115	Series 2000-35, Class ZA, 9.000%, 11/20/30		123
	10	Series 2000-36, Class IK, IO, 9.000%, 11/16/30		2
	53	Series 2001-6, Class SD, IF, IO, 8.043%, 03/16/31		18
	142	Series 2001-35, Class SA, IF, IO, 7.743%, 08/16/31		48

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	132	Series 2001-36, Class S, IF, IO, 7.543%, 08/16/31		44
	556	Series 2002-24, Class AG, IF, IO, 7.443%, 04/16/32		118
	51	Series 2002-24, Class SB, IF, 11.165%, 04/16/32		65
	1,117	Series 2002-31, Class SE, IF, IO, 6.993%, 04/16/30		203
	351	Series 2002-40, Class UK, 6.500%, 06/20/32		415
	18	Series 2002-41, Class SV, IF, 9.000%, 06/16/32		23
	1,305	Series 2002-45, Class QE, 6.500%, 06/20/32		1,550
	448	Series 2002-47, Class PG, 6.500%, 07/16/32		527
	833	Series 2002-47, Class ZA, 6.500%, 07/20/32		988
	710	Series 2002-52, Class GH, 6.500%, 07/20/32		850
	112	Series 2002-70, Class PS, IF, IO, 7.188%, 08/20/32		3
	949	Series 2002-75, Class PB, 6.000%, 11/20/32		1,115
	554	Series 2003-11, Class SK, IF, IO, 7.193%, 02/16/33		100
	244	Series 2003-12, Class SP, IF, IO, 7.188%, 02/20/33		65
	51	Series 2003-24, Class PO, PO, 03/16/33		48
	1,319	Series 2003-40, Class TJ, 6.500%, 03/20/33		1,516
	753	Series 2003-46, Class MG, 6.500%, 05/20/33		887
	631	Series 2003-46, Class TC, 6.500%, 03/20/33		720
	225	Series 2003-52, Class AP, PO, 06/16/33		197
	1,146	Series 2003-58, Class BE, 6.500%, 01/20/33		1,309
	68	Series 2003-90, Class PO, PO, 10/20/33		63
	835	Series 2003-112, Class SA, IF, IO, 6.043%, 12/16/33		178
	72	Series 2003-112, Class TS, IF, IO, 6.438%, 10/20/32		1
	336	Series 2004-28, Class S, IF, 18.269%, 04/16/34		506
	106	Series 2004-73, Class AE, IF, 13.810%, 08/17/34		129
	1,171	Series 2004-90, Class SI, IF, IO, 5.588%, 10/20/34		180

SEE NOTES TO FINANCIAL STATEMENTS.

24 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	221	Series 2005-35, Class FL, VAR, 0.862%, 03/20/32		221
	2,019	Series 2005-58, Class NI, IO, 5.500%, 08/20/35		330
	190	Series 2005-68, Class DP, IF, 15.213%, 06/17/35		269
	2,800	Series 2005-68, Class KI, IF, IO, 5.788%, 09/20/35		485
	379	Series 2005-91, Class PI, IO, 6.000%, 12/20/35		66
	188	Series 2006-16, Class OP, PO, 03/20/36		181
	464	Series 2006-38, Class SW, IF, IO, 5.988%, 06/20/36		54
	2,112	Series 2006-38, Class ZK, 6.500%, 08/20/36		2,482
	624	Series 2006-59, Class SD, IF, IO, 6.188%, 10/20/36		105
	955	Series 2006-65, Class SA, IF, IO, 6.288%, 11/20/36		187
	1,583	Series 2007-17, Class JI, IF, IO, 6.303%, 04/16/37		319
	170	Series 2007-17, Class JO, PO, 04/16/37		154
	907	Series 2007-19, Class SD, IF, IO, 5.688%, 04/20/37		141
	829	Series 2007-26, Class SC, IF, IO, 5.688%, 05/20/37		154
	696	Series 2007-27, Class SA, IF, IO, 5.688%, 05/20/37		135
	201	Series 2007-28, Class BO, PO, 05/20/37		185
	586	Series 2007-36, Class SE, IF, IO, 5.963%, 06/16/37		108
	1,591	Series 2007-40, Class SB, IF, IO, 6.238%, 07/20/37		284
	955	Series 2007-42, Class SB, IF, IO, 6.238%, 07/20/37		175
	2,500	Series 2007-47, Class PH, 6.000%, 07/16/37		3,039
	612	Series 2007-50, Class AI, IF, IO, 6.263%, 08/20/37		89
	88	Series 2007-53, Class SW, IF, 18.668%, 09/20/37		123
	428	Series 2007-57, Class PO, PO, 03/20/37		407
	299	Series 2007-71, Class SB, IF, IO, 6.188%, 07/20/36		13
	495	Series 2007-72, Class US, IF, IO, 6.038%, 11/20/37		87
	511	Series 2007-73, Class MI, IF, IO, 5.488%, 11/20/37		78

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	994	Series 2007-76, Class SA, IF, IO, 6.018%, 11/20/37		175
	489	Series 2007-79, Class SY, IF, IO, 6.038%, 12/20/37		88
	298	Series 2008-2, Class MS, IF, IO, 6.653%, 01/16/38		64
	994	Series 2008-2, Class NS, IF, IO, 6.033%, 01/16/38		179
	556	Series 2008-10, Class S, IF, IO, 5.318%, 02/20/38		98
	371	Series 2008-32, Class PI, IO, 5.500%, 10/16/37		41
	780	Series 2008-36, Class SH, IF, IO, 5.788%, 04/20/38		125
	4,412	Series 2008-40, Class SA, IF, IO, 5.893%, 05/16/38		862
	448	Series 2008-55, Class SA, IF, IO, 5.688%, 06/20/38		81
	80	Series 2008-60, Class PO, PO, 01/20/38		79
	230	Series 2008-71, Class SC, IF, IO, 5.488%, 08/20/38		30
	550	Series 2008-93, Class AS, IF, IO, 5.188%, 12/20/38		81
	592	Series 2009-6, Class SA, IF, IO, 5.593%, 02/16/39		95
	354	Series 2009-10, Class SL, IF, IO, 5.993%, 03/16/34		14
	1,381	Series 2009-12, Class IE, IO, 5.500%, 03/20/39		246
	545	Series 2009-14, Class KI, IO, 6.500%, 03/20/39		120
	513	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		111
	1,338	Series 2009-22, Class SA, IF, IO, 5.758%, 04/20/39		209
	390	Series 2009-25, Class SE, IF, IO, 7.088%, 09/20/38		75
	313	Series 2009-33, Class CI, IO, 5.500%, 05/20/39		47
	320	Series 2009-33, Class TI, IO, 6.000%, 05/20/39		56
	553	Series 2009-43, Class SA, IF, IO, 5.438%, 06/20/39		88
	419	Series 2009-65, Class IQ, IO, 6.000%, 12/20/38		56
	1,242	Series 2009-72, Class SM, IF, IO, 5.743%, 08/16/39		199
	301	Series 2009-79, Class OK, PO, 11/16/37		286
	442	Series 2010-14, Class CO, PO, 08/20/35		419

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 25

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	2,549	Series 2010-31, Class NO, PO, 03/20/40		2,483
	333	Series 2010-130, Class CP, 7.000%, 10/16/40		392
	2,584	Series 2010-157, Class OP, PO, 12/20/40		2,343
	3,941	Series 2010-H17, Class XQ, VAR, 5.238%, 07/20/60		4,184
	795	Series 2011-22, Class WA, VAR, 5.937%, 02/20/37		892
	1,598	Series 2011-75, Class SM, IF, IO, 6.088%, 05/20/41		344
	2,570	Series 2012-61, Class FM, VAR, 0.907%, 05/16/42		2,574
	688	Series 2012-141, Class WC, VAR, 3.714%, 01/20/42		730
	3,782	Series 2012-H10, Class FA, VAR, 1.018%, 12/20/61		3,775
	1,022	Series 2012-H15, Class FA, VAR, 0.918%, 05/20/62		1,022
	2,570	Series 2012-H21, Class CF, VAR, 1.168%, 05/20/61		2,573
	2,219	Series 2012-H21, Class DF, VAR, 1.118%, 05/20/61		2,220
	3,477	Series 2012-H22, Class FD, VAR, 0.938%, 01/20/61		3,472
	631	Series 2012-H24, Class FA, VAR, 0.918%, 03/20/60		631
	1,707	Series 2012-H24, Class FG, VAR, 0.898%, 04/20/60		1,704
	1,489	Series 2012-H26, Class MA, VAR, 1.018%, 07/20/62		1,485
	2,105	Series 2012-H28, Class FA, VAR, 1.048%, 09/20/62		2,104
	1,576	Series 2012-H29, Class FA, VAR, 0.983%, 10/20/62		1,571
	1,306	Series 2012-H30, Class PA, VAR, 0.918%, 11/20/59		1,306
	1,709	Series 2012-H31, Class FD, VAR, 0.808%, 12/20/62		1,692
	3,081	Series 2013-54, Class WA, VAR, 4.699%, 11/20/42		3,386
	2,346	Series 2013-75, Class WA, VAR, 5.220%, 06/20/40		2,585
	1,329	Series 2013-91, Class WA, VAR, 4.498%, 04/20/43		1,428
	1,300	Series 2013-116, Class JY, 4.000%, 08/16/43		1,495
	2,786	Series 2013-H01, Class FA, 1.650%, 01/20/63		2,778

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	528	Series 2013-H03, Class FA, VAR, 0.768%, 08/20/60		528
	1,394	Series 2013-H04, Class BA, 1.650%, 02/20/63		1,390
	3,622	Series 2013-H05, Class FB, VAR, 0.868%, 02/20/62		3,614
	1,624	Series 2013-H07, Class HA, VAR, 0.878%, 03/20/63		1,611
	9,242	Series 2013-H07, Class JA, 1.750%, 03/20/63		9,287
	1,489	Series 2013-H08, Class FC, VAR, 0.918%, 02/20/63		1,480
	1,842	Series 2013-H09, Class HA, 1.650%, 04/20/63		1,836
	3,421	Series 2013-H18, Class JA, VAR, 1.068%, 08/20/63		3,421
	1,125	Series 2014-188, Class W, VAR, 4.674%, 10/20/41		1,236
	1,671	Series 2014-H01, Class FD, VAR, 1.118%, 01/20/64		1,674
	1,694	Series 2014-H09, Class TA, VAR, 1.068%, 04/20/64		1,694
	6,088	Series 2015-H05, Class FC, VAR, 0.948%, 02/20/65		6,048
	9,541	Series 2015-H10, Class FC, VAR, 0.948%, 04/20/65		9,477
	7,555	Series 2015-H12, Class FA, VAR, 0.948%, 05/20/65		7,505
	1,926	Series 2015-H15, Class FD, VAR, 0.908%, 06/20/65		1,909
	4,415	Series 2015-H15, Class FJ, VAR, 0.908%, 06/20/65		4,375
	3,512	Series 2015-H16, Class FG, VAR, 0.908%, 07/20/65		3,484
	3,082	Series 2015-H23, Class FB, VAR, 0.988%, 09/20/65		3,069
	2,279	Series 2015-H32, Class FH, VAR, 1.128%, 12/20/65		2,287
	8,826	Series 2016-H07, Class FA, VAR, 1.218%, 03/20/66		8,896
		Vendee Mortgage Trust,
	348	Series 1994-1, Class 1, VAR, 5.512%, 02/15/24		380
	511	Series 1994-1, Class 2ZB, 6.500%, 02/15/24		575
	515	Series 1996-1, Class 1Z, 6.750%, 02/15/26		596
	396	Series 1996-2, Class 1Z, 6.750%, 06/15/26		455
	701	Series 1997-1, Class 2Z, 7.500%, 02/15/27		823

SEE NOTES TO FINANCIAL STATEMENTS.

26 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	853	Series 1998-1, Class 2E, 7.000%, 03/15/28		1,022
	1,649	Series 1999-1, Class 2Z, 6.500%, 01/15/29		1,893
	6,615	Series 2003-2, Class Z, 5.000%, 05/15/33		7,597
				484,111
		Non-Agency CMO — 4.0%
	3,953	Access PT Funding Trust, Series 2016-1, 6.250%, 02/16/21		3,952
		Ajax Mortgage Loan Trust,
	1,501	Series 2013-A, Class A, VAR, 3.500%, 02/25/51 (e)		1,490
	2,165	Series 2013-C, Class A, SUB, 4.500%, 03/25/53 (e)		2,232
	1,731	Series 2015-B, Class A, SUB, 3.875%, 07/25/60 (e)		1,705
		Alternative Loan Trust,
	10,493	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		10,427
	1,323	Series 2005-1CB, Class 1A6, IF, IO, 6.576%, 03/25/35		299
	3,334	Series 2005-20CB, Class 3A8, IF, IO, 4.226%, 07/25/35		476
	6,105	Series 2005-22T1, Class A2, IF, IO, 4.546%, 06/25/35		1,114
	3,399	Series 2005-28CB, Class 1A4, 5.500%, 08/25/35		3,307
	121	Series 2005-28CB, Class 3A5, 6.000%, 08/25/35		89
	4,856	Series 2005-37T1, Class A2, IF, IO, 4.526%, 09/25/35		926
	6,808	Series 2005-54CB, Class 1A2, IF, IO, 4.326%, 11/25/35		1,056
	2,695	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		2,515
	1,649	Series 2005-57CB, Class 3A2, IF, IO, 4.576%, 12/25/35		276
	1,117	Series 2005-64CB, Class 1A9, 5.500%, 12/25/35		1,032
	2,501	Series 2005-J1, Class 1A4, IF, IO, 4.576%, 02/25/35		140
	1,724	Series 2006-26CB, Class A9, 6.500%, 09/25/36		1,365
	271	American General Mortgage Loan Trust, Series 2010-1A, Class A4, VAR, 5.650%, 03/25/58 (e)		273
		Angel Oak Mortgage Trust LLC,
	1,534	Series 2015-1, Class A, SUB, 4.500%, 11/25/45 (e)		1,537

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — continued
	533	Series 2015-1, Class M, SUB, 5.500%, 11/25/45 (e)		532
		ASG Resecuritization Trust,
	185	Series 2009-1, Class A60, VAR, 2.535%, 06/26/37 (e)		184
	1,428	Series 2009-3, Class A65, VAR, 2.379%, 03/26/37 (e)		1,420
	275	Series 2010-2, Class A60, VAR, 2.014%, 01/28/37 (e)		272
	431	Series 2011-1, Class 3A50, VAR, 3.101%, 11/28/35 (e)		425
		Banc of America Alternative Loan Trust,
	208	Series 2003-11, Class PO, PO, 01/25/34		164
	67	Series 2004-6, Class 15PO, PO, 07/25/19		66
	984	Series 2005-5, Class 1CB1, 5.500%, 06/25/35		916
	2,376	Series 2005-6, Class CBIO, IO, 5.500%, 07/25/35		551
	645	Series 2006-4, Class 1A4, 6.000%, 05/25/46		453
		Banc of America Funding Trust,
	242	Series 2004-1, Class PO, PO, 03/25/34		191
	148	Series 2004-2, Class 30PO, PO, 09/20/34		131
	197	Series 2004-C, Class 1A1, VAR, 3.082%, 12/20/34		193
	497	Series 2005-6, Class 2A7, 5.500%, 10/25/35		476
	305	Series 2005-7, Class 30PO, PO, 11/25/35		234
	182	Series 2005-8, Class 30PO, PO, 01/25/36		133
	720	Series 2005-E, Class 4A1, VAR, 2.938%, 03/20/35		722
	415	Series 2006-A, Class 3A2, VAR, 3.087%, 02/20/36		331
		Banc of America Mortgage Trust,
	279	Series 2004-3, Class 15IO, IO, VAR, 0.229%, 04/25/19		1
	33	Series 2004-4, Class APO, PO, 05/25/34		28
	572	Series 2004-5, Class 2A2, 5.500%, 06/25/34		579
	170	Series 2004-A, Class 2A2, VAR, 2.948%, 02/25/34		161
	535	Series 2004-J, Class 3A1, VAR, 3.150%, 11/25/34		524
	446	Series 2005-10, Class 1A6, 5.500%, 11/25/35		421
		BCAP LLC Trust,
	265	Series 2009-RR5, Class 8A1, 5.500%, 11/26/34 (e)		275

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 27

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	83	Series 2009-RR13, Class 17A2, VAR, 5.500%, 04/26/37 (e)		83
	73	Series 2010-RR6, Class 22A3, VAR, 2.919%, 06/26/36 (e)		72
	51	Series 2010-RR7, Class 1A5, VAR, 3.021%, 04/26/35 (e)		51
	1,348	Series 2010-RR7, Class 2A1, VAR, 2.623%, 07/26/45 (e)		1,338
	844	Series 2010-RR8, Class 3A4, VAR, 3.087%, 05/26/35 (e)		830
	241	Series 2010-RR12, Class 2A5, VAR, 2.977%, 01/26/36 (e)		239
	200	Series 2011-R11, Class 25A5, VAR, 4.000%, 08/26/21 (e)		200
	975	Series 2011-RR4, Class 6A3, VAR, 5.000%, 08/26/37 (e)		984
	273	Series 2011-RR5, Class 11A3, VAR, 0.638%, 05/28/36 (e)		273
	1,273	Series 2011-RR10, Class 2A1, VAR, 1.352%, 09/26/37 (e)		1,231
	376	Series 2012-RR3, Class 2A5, VAR, 2.404%, 05/26/37 (e)		375
		Bear Stearns ARM Trust,
	152	Series 2003-7, Class 3A, VAR, 2.835%, 10/25/33		149
	528	Series 2004-1, Class 12A1, VAR, 3.080%, 04/25/34		522
	91	Series 2004-2, Class 14A, VAR, 3.344%, 05/25/34		91
	1,079	Series 2005-5, Class A1, VAR, 2.580%, 08/25/35		1,084
	2,516	Series 2006-1, Class A1, VAR, 2.580%, 02/25/36		2,456
		CHL Mortgage Pass-Through Trust,
	350	Series 2004-7, Class 2A1, VAR, 2.940%, 06/25/34		342
	118	Series 2004-8, Class 2A1, 4.500%, 06/25/19		120
	128	Series 2004-HYB1, Class 2A, VAR, 2.806%, 05/20/34		121
	534	Series 2004-HYB3, Class 2A, VAR, 2.761%, 06/20/34		507
	459	Series 2004-HYB6, Class A3, VAR, 2.792%, 11/20/34		438
	112	Series 2004-J8, Class 1A2, 4.750%, 11/25/19		114
	795	Series 2005-16, Class A23, 5.500%, 09/25/35		751

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — continued
	2,219	Series 2005-22, Class 2A1, VAR, 2.755%, 11/25/35		1,818
		Citicorp Mortgage Securities REMIC Pass-Through Certificates Trust,
	116	Series 2005-5, Class APO, PO, 08/25/35		103
	97	Series 2005-8, Class APO, PO, 11/25/35		78
		Citigroup Global Markets Mortgage Securities VII, Inc.,
	163	Series 2003-HYB1, Class A, VAR, 2.740%, 09/25/33		162
	6	Series 2003-UP2, Class PO1, PO, 12/25/18		5
		Citigroup Mortgage Loan Trust,
	633	Series 2008-AR4, Class 1A1A, VAR, 2.993%, 11/25/38 (e)		630
	279	Series 2009-10, Class 2A1A, 7.000%, 12/25/35 (e)		286
	579	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		581
	879	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		882
	485	Series 2015-A, Class B2, VAR, 4.500%, 06/25/58 (e)		495
		Citigroup Mortgage Loan Trust, Inc.,
	158	Series 2003-1, Class 2A5, 5.250%, 10/25/33		160
	82	Series 2003-1, Class 2A6, PO, 10/25/33		74
	60	Series 2003-1, Class PO2, PO, 10/25/33		49
	61	Series 2003-1, Class PO3, PO, 09/25/33		55
	32	Series 2003-UP3, Class A3, 7.000%, 09/25/33		33
	88	Series 2003-UST1, Class A1, 5.500%, 12/25/18		88
	22	Series 2003-UST1, Class PO1, PO, 12/25/18		20
	10	Series 2003-UST1, Class PO3, PO, 12/25/18		10
	120	Series 2004-UST1, Class A6, VAR, 2.645%, 08/25/34		115
	316	Series 2005-1, Class 2A1A, VAR, 2.801%, 04/25/35		250
	369	Series 2005-2, Class 2A11, 5.500%, 05/25/35		377
	416	Series 2005-5, Class 1A2, VAR, 3.406%, 08/25/35		302
		Credit Suisse First Boston Mortgage Securities Corp.,
	492	Series 2003-1, Class DB1, VAR, 6.738%, 02/25/33		498
	24	Series 2003-17, Class 2A1, 5.000%, 07/25/18		24

SEE NOTES TO FINANCIAL STATEMENTS.

28 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	207	Series 2003-21, Class 1A4, 5.250%, 09/25/33		212
	302	Series 2003-25, Class 1P, PO, 10/25/33		262
	12	Series 2004-5, Class 5P, PO, 08/25/19		12
	2,391	Series 2005-4, Class 3A18, 5.500%, 06/25/35		2,406
	2,661	Series 2005-4, Class 3A23, 5.500%, 06/25/35		2,631
		CSMC,
	3,879	Series 2010-11R, Class A6, VAR, 1.493%, 06/28/47 (e)		3,733
	511	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		512
	251	Series 2011-6R, Class 3A1, VAR, 3.210%, 07/28/36 (e)		252
	192	Series 2012-3R, Class 1A1, VAR, 2.715%, 07/27/37 (e)		192
		First Horizon Alternative Mortgage Securities Trust,
	694	Series 2004-AA4, Class A1, VAR, 2.716%, 10/25/34		680
	1,041	Series 2005-FA8, Class 1A19, 5.500%, 11/25/35		896
	2,021	Series 2007-FA4, Class 1A2, IF, IO, 5.126%, 08/25/37		502
		First Horizon Mortgage Pass-Through Trust,
	387	Series 2004-AR2, Class 2A1, VAR, 3.065%, 05/25/34		382
	760	Series 2005-AR1, Class 2A2, VAR, 2.935%, 04/25/35		761
		GMACM Mortgage Loan Trust,
	408	Series 2003-AR1, Class A4, VAR, 3.328%, 10/19/33		403
	167	Series 2004-J5, Class A7, 6.500%, 01/25/35		173
	51	Series 2004-J6, Class 1A1, 5.000%, 01/25/20		52
	3,178	Series 2005-AR3, Class 3A4, VAR, 3.304%, 06/19/35		3,107
		GSMPS Mortgage Loan Trust,
	736	Series 2001-2, Class A, VAR, 7.500%, 06/19/32 (e)		746
	1,080	Series 2005-RP3, Class 1AF, VAR, 0.874%, 09/25/35 (e)		930
	816	Series 2005-RP3, Class 1AS, IO, VAR, 4.240%, 09/25/35 (e)		114
	3,657	Series 2006-RP2, Class 1AS2, IF, IO, 5.600%, 04/25/36 (e)		557

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — continued
		GSR Mortgage Loan Trust,
	739	Series 2004-13F, Class 3A3, 6.000%, 11/25/34		757
	372	Series 2004-6F, Class 3A4, 6.500%, 05/25/34		395
	298	Series 2004-8F, Class 2A3, 6.000%, 09/25/34		305
	144	Series 2005-4F, Class AP, PO, 05/25/35		130
	1,552	Series 2005-7F, Class 3A9, 6.000%, 09/25/35		1,649
	2,136	Series 2006-1F, Class 2A4, 6.000%, 02/25/36		1,875
	1,643	Series 2007-1F, Class 2A4, 5.500%, 01/25/37		1,582
	2,187	Homeowner Assistance Program Reverse Mortgage Loan Trust, Series 2013-RM1, Class A, 4.000%, 05/26/53 (e)		2,170
		Impac CMB Trust,
	1,755	Series 2004-7, Class 1A1, VAR, 1.264%, 11/25/34		1,694
	210	Series 2005-4, Class 2A1, VAR, 1.124%, 05/25/35		202
		Impac Secured Assets Trust,
	522	Series 2006-1, Class 2A1, VAR, 0.874%, 05/25/36		469
	359	Series 2006-2, Class 2A1, VAR, 0.874%, 08/25/36		353
		JP Morgan Mortgage Trust,
	842	Series 2006-A2, Class 4A1, VAR, 3.185%, 08/25/34		845
	1,146	Series 2006-A2, Class 5A3, VAR, 2.783%, 11/25/33		1,161
	217	Series 2006-A3, Class 6A1, VAR, 3.145%, 08/25/34		217
	97	JP Morgan Resecuritization Trust, Series 2009-6, Class 4A1, VAR, 2.978%, 09/26/36 (e)		97
		Lehman Mortgage Trust,
	483	Series 2006-2, Class 1A1, VAR, 5.928%, 04/25/36		431
	913	Series 2008-2, Class 1A6, 6.000%, 03/25/38		687
		MASTR Adjustable Rate Mortgages Trust,
	54	Series 2004-4, Class 2A1, VAR, 2.262%, 05/25/34		48
	494	Series 2004-13, Class 2A1, VAR, 2.882%, 04/21/34		504
	1,138	Series 2004-13, Class 3A7, VAR, 3.028%, 11/21/34		1,160

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 29

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	362	Series 2004-15, Class 3A1, VAR, 3.406%, 12/25/34		357
		MASTR Alternative Loan Trust,
	154	Series 2003-3, Class 1A1, 6.500%, 05/25/33		159
	420	Series 2003-9, Class 8A1, 6.000%, 01/25/34		420
	440	Series 2004-3, Class 2A1, 6.250%, 04/25/34		458
	591	Series 2004-4, Class 10A1, 5.000%, 05/25/24		615
	338	Series 2004-6, Class 30PO, PO, 07/25/34		247
	526	Series 2004-6, Class 7A1, 6.000%, 07/25/34		513
	229	Series 2004-7, Class 30PO, PO, 08/25/34		179
	436	Series 2004-8, Class 6A1, 5.500%, 09/25/19		444
	80	Series 2004-10, Class 1A1, 4.500%, 09/25/19		80
		MASTR Asset Securitization Trust,
	11	Series 2003-2, Class 2A1, 4.500%, 03/25/18		11
	7	Series 2003-3, Class 4A1, 5.000%, 04/25/18		8
	19	Series 2003-4, Class 3A2, 5.000%, 05/25/18		19
	50	Series 2003-12, Class 30PO, PO, 12/25/33		45
	39	Series 2004-1, Class 30PO, PO, 02/25/34		31
	10	Series 2004-4, Class 3A1, 4.500%, 04/25/19		10
	16	Series 2004-6, Class 15PO, PO, 07/25/19		16
	28	Series 2004-8, Class 1A1, 4.750%, 08/25/19		28
	12	Series 2004-8, Class PO, PO, 08/25/19		11
	2,133	MASTR Reperforming Loan Trust, Series 2005-2, Class 1A1F, VAR, 0.874%, 05/25/35 (e)		1,668
	389	MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		308
		Merrill Lynch Mortgage Investors Trust,
	207	Series 2003-E, Class A1, VAR, 1.144%, 10/25/28		197
	1,989	Series 2003-F, Class A1, VAR, 1.164%, 10/25/28		1,942
	568	Series 2004-1, Class 2A1, VAR, 2.682%, 12/25/34		568
	385	Series 2004-A, Class A1, VAR, 0.984%, 04/25/29		360

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — continued
	5	ML Trust XLVII, Series 47, Class Z, 8.985%, 10/20/20		5
	433	MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 1.164%, 02/25/35		417
	390	NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		391
		Nomura Asset Acceptance Corp. Alternative Loan Trust,
	157	Series 2003-A1, Class A1, 5.500%, 05/25/33		160
	97	Series 2003-A1, Class A2, 6.000%, 05/25/33		98
	34	Series 2003-A1, Class A5, 7.000%, 04/25/33		35
	2	Series 2003-A1, Class A7, 5.000%, 04/25/18		2
	4	PaineWebber CMO Trust, Series P, Class 4, 8.500%, 08/01/19		4
	200	Provident Funding Mortgage Loan Trust, Series 2005-1, Class 2A1, VAR, 2.842%, 05/25/35		192
		RALI Trust,
	43	Series 2002-QS8, Class A5, 6.250%, 06/25/17		43
	20	Series 2002-QS16, Class A3, IF, 15.526%, 10/25/17		21
	64	Series 2003-QS3, Class A2, IF, 15.346%, 02/25/18		68
	179	Series 2003-QS9, Class A3, IF, IO, 7.026%, 05/25/18		6
	193	Series 2003-QS12, Class A2A, IF, IO, 7.076%, 06/25/18		7
	59	Series 2003-QS12, Class A5, IO, 5.000%, 06/25/18		1
	433	Series 2003-QS14, Class A1, 5.000%, 07/25/18		434
	131	Series 2003-QS18, Class A1, 5.000%, 09/25/18		132
	1,424	Series 2004-QA6, Class NB2, VAR, 3.344%, 12/26/34		1,195
		RBSSP Resecuritization Trust,
	267	Series 2009-2, Class 1A1, 7.000%, 08/26/37 (e)		278
	102	Series 2009-9, Class 7A4, VAR, 6.000%, 07/26/37 (e)		102
	480	Series 2009-12, Class 1A1, VAR, 5.851%, 11/25/33 (e)		497

SEE NOTES TO FINANCIAL STATEMENTS.

30 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	151	Series 2010-9, Class 7A5, VAR, 4.000%, 05/26/37 (e)		150
		Residential Asset Securitization Trust,
	229	Series 2003-A13, Class A3, 5.500%, 01/25/34		234
	10	Series 2003-A14, Class A1, 4.750%, 02/25/19		10
	2,119	Series 2005-A2, Class A4, IF, IO, 4.526%, 03/25/35		307
	565	Series 2006-A4, Class 2A5, 6.000%, 05/25/36		521
		RFMSI Trust,
	29	Series 2003-S14, Class A4, PO, 07/25/18		28
	64	Series 2004-S3, Class A1, 4.750%, 03/25/19		63
	296	Series 2004-S6, Class 2A6, PO, 06/25/34		230
	38	Series 2004-S9, Class 2A1, 4.750%, 12/25/19		39
	511	Series 2005-SA4, Class 1A1, VAR, 3.223%, 09/25/35		424
		Springleaf Mortgage Loan Trust,
	660	Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		657
	1,116	Series 2013-1A, Class M1, VAR, 2.310%, 06/25/58 (e)		1,112
	900	Series 2013-1A, Class M2, VAR, 3.140%, 06/25/58 (e)		898
	634	Series 2013-1A, Class M3, VAR, 3.790%, 06/25/58 (e)		636
	1,714	Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		1,705
	1,058	Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		1,063
	493	Series 2013-3A, Class A, VAR, 1.870%, 09/25/57 (e)		494
	2,131	Series 2013-3A, Class M1, VAR, 3.790%, 09/25/57 (e)		2,132
	194	Structured Adjustable Rate Mortgage Loan Trust, Series 2004-6, Class 5A4, VAR, 2.813%, 06/25/34		194
	586	Structured Asset Mortgage Investments II Trust, Series 2004-AR5, Class 1A1, VAR, 1.174%, 10/19/34		558
		Structured Asset Securities Corp. Mortgage Pass-Through Certificates,
	656	Series 2003-33H, Class 1A1, 5.500%, 10/25/33		669
	1,047	Series 2004-5H, Class A4, 5.540%, 12/25/33		1,075

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — continued
		Structured Asset Securities Corp. Trust,
	89	Series 2005-6, Class 4A1, 5.000%, 05/25/35		90
	142	Series 2005-10, Class 5A9, 5.250%, 12/25/34		138
		Thornburg Mortgage Securities Trust,
	334	Series 2003-4, Class A1, VAR, 1.164%, 09/25/43		321
	805	Series 2004-4, Class 3A, VAR, 2.183%, 12/25/44		795
		WaMu Mortgage Pass-Through Certificates Trust,
	122	Series 2003-AR8, Class A, VAR, 2.697%, 08/25/33		124
	1,883	Series 2003-AR9, Class 1A6, VAR, 2.631%, 09/25/33		1,904
	251	Series 2003-AR9, Class 2A, VAR, 2.755%, 09/25/33		246
	69	Series 2003-S8, Class A6, 4.500%, 09/25/18		69
	885	Series 2003-S9, Class A8, 5.250%, 10/25/33		920
	76	Series 2003-S9, Class P, PO, 10/25/33		65
	149	Series 2004-AR3, Class A1, VAR, 2.783%, 06/25/34		150
	125	Series 2004-AR3, Class A2, VAR, 2.783%, 06/25/34		126
	1,453	Series 2004-RS2, Class A4, 5.000%, 11/25/33		1,475
	213	Series 2006-AR10, Class 2P, VAR, 2.684%, 09/25/36		183
	145	Series 2006-AR12, Class 2P, VAR, 2.018%, 10/25/36		108
		Washington Mutual Mortgage Pass-Through Certificates WMALT Trust,
	6,818	Series 2005-2, Class 1A4, IF, IO, 4.526%, 04/25/35		1,038
	1,643	Series 2005-2, Class 2A3, IF, IO, 4.476%, 04/25/35		285
	1,842	Series 2005-3, Class CX, IO, 5.500%, 05/25/35		378
	2,193	Series 2005-4, Class CB7, 5.500%, 06/25/35		2,027
	1,721	Series 2005-4, Class CX, IO, 5.500%, 06/25/35		356
	482	Series 2005-6, Class 2A4, 5.500%, 08/25/35		442
	3,091	Series 2005-6, Class 2A9, 5.500%, 08/25/35		2,833

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 31

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
		Wells Fargo Mortgage-Backed Securities Trust,
	149	Series 2003-K, Class 1A1, VAR, 2.638%, 11/25/33		149
	282	Series 2003-K, Class 1A2, VAR, 2.638%, 11/25/33		283
	314	Series 2004-EE, Class 2A1, VAR, 2.967%, 12/25/34		316
	413	Series 2004-EE, Class 3A1, VAR, 3.028%, 12/25/34		426
	1,789	Series 2004-P, Class 2A1, VAR, 2.988%, 09/25/34		1,841
	307	Series 2004-V, Class 1A1, VAR, 3.008%, 10/25/34		309
	113	Series 2005-16, Class APO, PO, 01/25/36		90
	3,039	Series 2005-AR3, Class 1A1, VAR, 3.041%, 03/25/35		3,106
	330	Series 2005-AR8, Class 2A1, VAR, 2.977%, 06/25/35		335
	263	Series 2005-AR16, Class 2A1, VAR, 2.852%, 02/25/34		265
	426	Series 2006-2, Class APO, PO, 03/25/36		339
	185	Series 2006-4, Class 1APO, PO, 04/25/36		157
	787	Series 2007-7, Class A7, 6.000%, 06/25/37		772
	237	Series 2007-11, Class A14, 6.000%, 08/25/37		235
				147,983
		Total Collateralized Mortgage Obligations (Cost $594,464)		632,094
	Commercial Mortgage-Backed Securities — 2.4%
		A10 Securitization LLC,
	16	Series 2013-1, Class A, 2.400%, 11/15/25 (e)		16
	2,010	Series 2015-1, Class A1, 2.100%, 04/15/34 (e)		2,000
	1,293	Series 2015-1, Class A2, 3.130%, 04/15/34 (e)		1,297
		A10 Term Asset Financing LLC,
	1,149	Series 2013-2, Class A, 2.620%, 11/15/27 (e)		1,146
	696	Series 2013-2, Class B, 4.380%, 11/15/27 (e)		685
		ACRE Commercial Mortgage Trust, (Cayman Islands),
	610	Series 2014-FL2, Class B, VAR, 2.557%, 08/15/31 (e)		608
	710	Series 2014-FL2, Class C, VAR, 3.007%, 08/15/31 (e)		705
	400	Series 2014-FL2, Class D, VAR, 3.907%, 08/15/31 (e)		390

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		BAMLL Commercial Mortgage Securities Trust,
	560	Series 2012-PARK, Class A, 2.959%, 12/10/30 (e)		587
	1,300	Series 2014-520M, Class C, VAR, 4.354%, 08/15/46 (e)		1,310
		Banc of America Commercial Mortgage Trust,
	78	Series 2006-5, Class A4, 5.414%, 09/10/47		78
	1,257	Series 2007-5, Class A4, 5.492%, 02/10/51		1,289
	236	Banc of America Merrill Lynch Commercial Mortgage, Inc., Series 2005-3, Class AM, 4.727%, 07/10/43		235
		BB-UBS Trust,
	4,400	Series 2012-SHOW, Class A, 3.430%, 11/05/36 (e)		4,720
	483	Series 2012-TFT, Class A, 2.892%, 06/05/30 (e)		491
	1,399	Bear Stearns Commercial Mortgage Securities Trust, Series 2005-PWR8, Class X1, IO, VAR, 0.393%, 06/11/41 (e)		—	(h)
	53,142	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.573%, 12/11/49 (e)		42
	748	CGBAM Commercial Mortgage Trust, Series 2014-HD, Class A, VAR, 1.308%, 02/15/31 (e)		743
		COBALT CMBS Commercial Mortgage Trust,
	174	Series 2006-C1, Class A4, 5.223%, 08/15/48		174
	9,891	Series 2006-C1, Class IO, IO, VAR, 0.930%, 08/15/48		20
		COMM Mortgage Trust,
	2,658	Series 2012-CR2, Class XA, IO, VAR, 1.897%, 08/15/45		209
	3,500	Series 2013-300P, Class A1, 4.353%, 08/10/30 (e)		3,959
	1,060	Series 2013-SFS, Class A2, VAR, 3.086%, 04/12/35 (e)		1,107
	1,400	Series 2014-TWC, Class A, VAR, 1.358%, 02/13/32 (e)		1,400
	1,156	Series 2015-CR24, Class A5, 3.696%, 08/10/48		1,272
	2,812	Series 2015-CR25, Class A4, 3.759%, 08/10/48		3,100
	133	Commercial Mortgage Trust, Series 2006-GG7, Class AM, VAR, 5.964%, 07/10/38		133
		Federal Home Loan Mortgage Corp., Multifamily Structured Pass-Through Certificates,
	3,560	Series K052, Class A2, 3.151%, 11/25/25		3,873
	872	Series KJ02, Class A2, 2.597%, 09/25/20		900

SEE NOTES TO FINANCIAL STATEMENTS.

32 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — continued
	5,500	Series KPLB, Class A, 2.770%, 05/25/25		5,763
	1,000	Series KS01, Class A2, 2.522%, 01/25/23		1,037
	2,500	Series KSMC, Class A2, 2.615%, 01/25/23		2,613
		FORT CRE LLC,
	1,256	Series 2016-1A, Class B, VAR, 3.250%, 05/31/36 (e)		1,256
	1,887	Series 2016-1A, Class C, VAR, 3.750%, 05/31/36 (e)		1,887
	1,873	Government National Mortgage Association, Series 2014-168, Class VA, VAR, 3.400%, 01/16/37		2,019
	1,289	GS Mortgage Securities Corp. II, Series 2013-KING, Class A, 2.706%, 12/10/27 (e)		1,310
	488	GS Mortgage Securities Corp. Trust, Series 2013-NYC5, Class A, 2.318%, 01/10/30 (e)		490
		JP Morgan Chase Commercial Mortgage Securities Trust,
	41	Series 2005-CB11, Class AJ, VAR, 5.584%, 08/12/37		40
	400	Series 2006-LDP9, Class AMS, 5.337%, 05/15/47		397
	875	Series 2007-C1, Class A4, 5.716%, 02/15/51		900
	998	Ladder Capital Commercial Mortgage Trust, Series 2013-GCP, Class A2, 3.985%, 02/15/36 (e)		1,094
		LB-UBS Commercial Mortgage Trust,
	13,251	Series 2006-C7, Class XW, IO, VAR, 0.879%, 11/15/38 (e)		30
	300	Series 2007-C1, Class AM, 5.455%, 02/15/40		302
	495	Series 2007-C2, Class A3, 5.430%, 02/15/40		499
	8,735	ML-CFC Commercial Mortgage Trust, Series 2006-4, Class XC, IO, VAR, 0.768%, 12/12/49 (e)		8
	2,000	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C14, Class A3, 3.669%, 02/15/47		2,121
		Morgan Stanley Capital I Trust,
	17,545	Series 2006-IQ12, Class X1, IO, VAR, 0.717%, 12/15/43 (e)		10
	53,151	Series 2007-HQ11, Class X, IO, VAR, 0.379%, 02/12/44 (e)		21
	764	Series 2011-C3, Class A3, 4.054%, 07/15/49		799
		Morgan Stanley Re-REMIC Trust,
	535	Series 2012-IO, Class AXA, 1.000%, 03/27/51 (e)		533

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	1,074	Series 2012-XA, Class A, 2.000%, 07/27/49 (e)		1,065
	1,800	Series 2012-XA, Class B, 0.250%, 07/27/49 (e)		1,611
	898	NorthStar, (Cayman Islands), Series 2013-1A, Class B, VAR, 5.524%, 08/25/29 (e)		906
		PFP Ltd., (Cayman Islands),
	1,380	Series 2015-2, Class A, VAR, 1.958%, 07/14/34 (e)		1,371
	1,055	Series 2015-2, Class C, VAR, 3.758%, 07/14/34 (e)		1,028
	730	Series 2015-2, Class D, VAR, 4.508%, 07/14/34 (e)		705
		RAIT Trust,
	544	Series 2014-FL3, Class A, VAR, 1.758%, 12/15/31 (e)		537
	1,986	Series 2014-FL3, Class AS, VAR, 2.308%, 12/15/31 (e)		1,962
	736	Series 2014-FL3, Class B, VAR, 3.158%, 12/15/31 (e)		731
	1,109	Series 2015-FL4, Class A, VAR, 1.857%, 12/15/31 (e)		1,109
	1,450	Series 2015-FL4, Class AS, VAR, 2.257%, 12/15/31 (e)		1,460
	1,805	Series 2015-FL5, Class B, VAR, 4.408%, 01/15/31 (e)		1,805
	664	RBS Commercial Funding, Inc. Trust, Series 2013-SMV, Class A, 3.260%, 03/11/31 (e)		689
		Resource Capital Corp., Ltd., (Cayman Islands),
	441	Series 2015-CRE4, Class A, VAR, 1.907%, 08/15/32 (e)		435
	1,151	Series 2015-CRE4, Class B, VAR, 3.507%, 08/15/32 (e)		1,082
	499	RREF LLC, Series 2015-LT7, Class A, 3.000%, 12/25/32 (e)		499
	2,236	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		2,368
		UBS-Barclays Commercial Mortgage Trust,
	1,053	Series 2012-C2, Class A4, 3.525%, 05/10/63		1,141
	9,700	Series 2012-C2, Class XA, IO, VAR, 1.797%, 05/10/63 (e)		527
	857	Series 2013-C6, Class A4, 3.244%, 04/10/46		915
		VNDO Mortgage Trust,
	1,398	Series 2012-6AVE, Class A, 2.996%, 11/15/30 (e)		1,468
	5,000	Series 2013-PENN, Class A, 3.808%, 12/13/29 (e)		5,375

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 33

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — continued
		Wells Fargo Commercial Mortgage Trust,
	2,500	Series 2013-120B, Class A, VAR, 2.800%, 03/18/28 (e)		2,561
	1,094	Series 2015-C30, Class A4, 3.664%, 09/15/58		1,199
	7	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		7
		WFRBS Commercial Mortgage Trust,
	1,700	Series 2011-C3, Class A4, 4.375%, 03/15/44 (e)		1,875
	800	Series 2012-C6, Class A4, 3.440%, 04/15/45		859
	400	Series 2013-C11, Class D, VAR, 4.317%, 03/15/45 (e)		375
		Total Commercial Mortgage-Backed Securities (Cost $88,260)		91,283
	Corporate Bonds — 24.8%
		Consumer Discretionary — 1.7%
		Auto Components — 0.1%
		Johnson Controls, Inc.,
	591	3.750%, 12/01/21		628
	675	4.250%, 03/01/21		724
	273	4.950%, 07/02/64		291
	1,000	5.250%, 12/01/41		1,164
				2,807
		Automobiles — 0.3%
		Daimler Finance North America LLC,
	532	1.875%, 01/11/18 (e)		535
	305	2.250%, 03/02/20 (e)		311
	981	2.375%, 08/01/18 (e)		997
	739	2.625%, 09/15/16 (e)		739
	1,425	2.950%, 01/11/17 (e)		1,435
	1,500	Ford Motor Co., 7.450%, 07/16/31		2,036
	1,086	General Motors Co., 6.600%, 04/01/36		1,339
		Hyundai Capital America,
	526	2.400%, 10/30/18 (e)		533
	1,000	3.000%, 03/18/21 (e)		1,038
	385	Kia Motors Corp., (South Korea), 2.625%, 04/21/21 (e)		397
				9,360
		Hotels, Restaurants & Leisure — 0.0% (g)
	900	McDonald’s Corp., 4.700%, 12/09/35		1,033
	718	Starbucks Corp., 2.700%, 06/15/22		753
				1,786

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Internet & Direct Marketing Retail — 0.1%
		Amazon.com, Inc.,
	1,448	3.800%, 12/05/24		1,616
	1,435	4.800%, 12/05/34		1,723
				3,339
		Media — 1.0%
		21st Century Fox America, Inc.,
	100	6.200%, 12/15/34		127
	400	6.650%, 11/15/37		536
	250	6.900%, 08/15/39		343
	1,075	7.300%, 04/30/28		1,457
	505	8.000%, 10/17/16		509
	430	8.875%, 04/26/23		581
		CBS Corp.,
	740	3.700%, 08/15/24		780
	792	4.000%, 01/15/26		851
	345	4.600%, 01/15/45		364
	140	4.850%, 07/01/42		149
	360	4.900%, 08/15/44		391
		Charter Communications Operating LLC/Charter Communications Operating Capital,
	1,797	4.464%, 07/23/22 (e)		1,948
	703	6.384%, 10/23/35 (e)		841
	250	Comcast Cable Communications Holdings, Inc., 9.455%, 11/15/22		351
		Comcast Corp.,
	500	2.750%, 03/01/23		521
	347	3.375%, 08/15/25		374
	555	4.200%, 08/15/34		620
	1,082	4.250%, 01/15/33		1,216
	400	6.450%, 03/15/37		561
	2,383	6.500%, 11/15/35		3,359
		Cox Communications, Inc.,
	446	3.250%, 12/15/22 (e)		449
	885	4.800%, 02/01/35 (e)		861
	125	8.375%, 03/01/39 (e)		160
	450	Cox Enterprises, Inc., 7.375%, 07/15/27 (e)		551
		Discovery Communications LLC,
	1,016	4.375%, 06/15/21		1,099
	569	4.950%, 05/15/42		534
		Grupo Televisa SAB, (Mexico),
	221	4.625%, 01/30/26		244
	200	6.125%, 01/31/46		238
	1,197	Historic TW, Inc., 9.150%, 02/01/23		1,623
		NBCUniversal Media LLC,
	275	2.875%, 01/15/23		288
	310	4.375%, 04/01/21		347

SEE NOTES TO FINANCIAL STATEMENTS.

34 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Media — continued
	800	5.950%, 04/01/41		1,094
	515	6.400%, 04/30/40		734
	296	Sky plc, (United Kingdom), 3.750%, 09/16/24 (e)		314
		Time Warner Cable, Inc.,
	359	5.500%, 09/01/41		390
	1,218	5.850%, 05/01/17		1,253
	400	6.550%, 05/01/37		483
	800	8.250%, 04/01/19		924
	300	Time Warner Cos., Inc., 7.570%, 02/01/24		390
	1,410	Time Warner Entertainment Co. LP, 8.375%, 07/15/33		1,927
		Time Warner, Inc.,
	1,700	3.600%, 07/15/25		1,821
	555	4.750%, 03/29/21		622
	313	5.375%, 10/15/41		379
	150	6.200%, 03/15/40		194
	172	6.250%, 03/29/41		226
	265	6.500%, 11/15/36		344
	250	7.625%, 04/15/31		353
	301	7.700%, 05/01/32		430
		Viacom, Inc.,
	235	2.750%, 12/15/19		240
	600	3.125%, 06/15/22		599
	67	3.250%, 03/15/23		67
	808	4.250%, 09/01/23		856
	464	4.375%, 03/15/43		420
	250	4.500%, 02/27/42		230
	262	4.850%, 12/15/34		264
				36,827
		Multiline Retail — 0.1%
		Macy’s Retail Holdings, Inc.,
	516	2.875%, 02/15/23		507
	971	4.375%, 09/01/23		1,026
	526	4.500%, 12/15/34		498
	157	5.125%, 01/15/42		152
	300	6.375%, 03/15/37		329
	230	7.450%, 07/15/17		241
	455	Nordstrom, Inc., 4.000%, 10/15/21		487
	350	Target Corp., 2.500%, 04/15/26		359
				3,599
		Specialty Retail — 0.1%
	417	Bed Bath & Beyond, Inc., 4.915%, 08/01/34		425
	502	Gap, Inc. (The), 5.950%, 04/12/21		544

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Specialty Retail — continued
		Home Depot, Inc. (The),
	454	3.000%, 04/01/26		484
	517	4.250%, 04/01/46		601
		Lowe’s Cos., Inc.,
	268	3.375%, 09/15/25		290
	739	4.650%, 04/15/42		874
	326	5.125%, 11/15/41		410
	750	Series B, 7.110%, 05/15/37		1,077
				4,705
		Total Consumer Discretionary		62,423
		Consumer Staples — 1.4%
		Beverages — 0.5%
		Anheuser-Busch Cos. LLC,
	600	5.500%, 01/15/18		634
	920	5.750%, 04/01/36		1,190
		Anheuser-Busch InBev Finance, Inc.,
	94	1.900%, 02/01/19		95
	3,824	3.300%, 02/01/23		4,013
	1,733	3.650%, 02/01/26		1,850
	900	3.700%, 02/01/24		977
	1,430	4.700%, 02/01/36		1,657
	1,135	4.900%, 02/01/46		1,372
	750	Brown-Forman Corp., 4.500%, 07/15/45		879
		Diageo Capital plc, (United Kingdom),
	264	1.500%, 05/11/17		265
	510	4.828%, 07/15/20		571
	255	Diageo Investment Corp., 8.000%, 09/15/22		334
	355	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		356
	187	Molson Coors Brewing Co., 3.000%, 07/15/26		189
		PepsiCo, Inc.,
	287	1.250%, 08/13/17		288
	1,220	3.100%, 07/17/22		1,298
	534	4.450%, 04/14/46		645
	59	7.900%, 11/01/18		67
	698	SABMiller Holdings, Inc., 3.750%, 01/15/22 (e)		759
				17,439
		Food & Staples Retailing — 0.5%
	858	Costco Wholesale Corp., 2.250%, 02/15/22		881
		CVS Health Corp.,
	2,036	2.125%, 06/01/21		2,058
	1,418	2.875%, 06/01/26		1,453
	725	4.000%, 12/05/23		802
	322	5.300%, 12/05/43		403

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 35

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Food & Staples Retailing — continued
	981	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		1,163
		Kroger Co. (The),
	900	4.000%, 02/01/24		993
	1,100	6.900%, 04/15/38		1,564
	2,480	7.500%, 04/01/31		3,531
	291	Sysco Corp., 3.750%, 10/01/25		315
	200	Walgreen Co., 4.400%, 09/15/42		214
		Walgreens Boots Alliance, Inc.,
	1,989	3.100%, 06/01/23		2,051
	663	3.800%, 11/18/24		711
	386	4.500%, 11/18/34		419
	400	4.800%, 11/18/44		449
		Wal-Mart Stores, Inc.,
	762	5.000%, 10/25/40		973
	255	6.200%, 04/15/38		368
	350	7.550%, 02/15/30		535
				18,883
		Food Products — 0.4%
		Bunge Ltd. Finance Corp.,
	95	3.500%, 11/24/20		99
	1,415	8.500%, 06/15/19		1,655
	191	Bunge N.A. Finance LP, 5.900%, 04/01/17		196
		Cargill, Inc.,
	600	3.300%, 03/01/22 (e)		627
	535	4.307%, 05/14/21 (e)		590
	850	7.350%, 03/06/19 (e)		973
	227	ConAgra Foods, Inc., 2.100%, 03/15/18		228
	365	Kellogg Co., 1.750%, 05/17/17		367
		Kraft Heinz Foods Co.,
	814	3.500%, 06/06/22		869
	694	5.000%, 06/04/42		809
	1,187	6.125%, 08/23/18		1,294
	2,353	6.875%, 01/26/39		3,305
		Mead Johnson Nutrition Co.,
	317	3.000%, 11/15/20		331
	153	Class C, 4.125%, 11/15/25		167
	1,500	Mondelez International, Inc., 4.000%, 02/01/24		1,655
		Tyson Foods, Inc.,
	777	3.950%, 08/15/24		841
	1,100	4.875%, 08/15/34		1,249
				15,255

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Household Products — 0.0% (g)
		Kimberly-Clark Corp.,
	220	2.400%, 03/01/22		228
	426	3.050%, 08/15/25		457
	71	7.500%, 11/01/18		80
	550	Procter & Gamble — ESOP, Series A, 9.360%, 01/01/21		649
	140	Procter & Gamble Co. (The), 5.500%, 02/01/34		194
				1,608
		Total Consumer Staples		53,185
		Energy — 2.5%
		Energy Equipment & Services — 0.1%
	348	Diamond Offshore Drilling, Inc., 4.875%, 11/01/43		256
		Halliburton Co.,
	714	3.500%, 08/01/23		738
	193	4.850%, 11/15/35		206
	1,620	7.450%, 09/15/39		2,267
		Nabors Industries, Inc.,
	200	4.625%, 09/15/21		190
	200	5.000%, 09/15/20		198
	188	National Oilwell Varco, Inc., 1.350%, 12/01/17		187
		Noble Holding International Ltd., (Cayman Islands),
	63	5.250%, 03/15/42		37
	300	6.050%, 03/01/41		182
	363	7.950%, 04/01/45		265
	200	Schlumberger Holdings Corp., 4.000%, 12/21/25 (e)		218
	441	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		468
				5,212
		Oil, Gas & Consumable Fuels — 2.4%
	160	Alberta Energy Co., Ltd., (Canada), 7.375%, 11/01/31		167
	330	Anadarko Petroleum Corp., 8.700%, 03/15/19		377
		Apache Corp.,
	138	3.250%, 04/15/22		141
	556	4.750%, 04/15/43		574
	500	6.900%, 09/15/18		546
	235	BG Energy Capital plc, (United Kingdom), 5.125%, 10/15/41 (e)		276
		Boardwalk Pipelines LP,
	338	4.950%, 12/15/24		349
	318	5.950%, 06/01/26		347

SEE NOTES TO FINANCIAL STATEMENTS.

36 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Oil, Gas & Consumable Fuels — continued
		BP Capital Markets plc, (United Kingdom),
	92	1.375%, 11/06/17		92
	929	1.846%, 05/05/17		933
	1,283	2.237%, 05/10/19		1,312
	1,182	2.750%, 05/10/23		1,204
	375	3.119%, 05/04/26		387
	451	3.506%, 03/17/25		481
	1,337	3.814%, 02/10/24		1,455
		Buckeye Partners LP,
	500	4.350%, 10/15/24		506
	330	4.875%, 02/01/21		353
	770	5.850%, 11/15/43		801
	200	Burlington Resources Finance Co., (Canada), 7.400%, 12/01/31		264
		Canadian Natural Resources Ltd., (Canada),
	401	3.900%, 02/01/25		404
	350	6.250%, 03/15/38		384
	1,000	6.750%, 02/01/39		1,136
		Cenovus Energy, Inc., (Canada),
	208	3.000%, 08/15/22		198
	356	4.450%, 09/15/42		290
	759	6.750%, 11/15/39		810
		Chevron Corp.,
	560	2.355%, 12/05/22		573
	1,200	2.566%, 05/16/23		1,226
	1,000	4.950%, 03/03/19		1,091
	1,852	CNOOC Finance 2015 Australia Pty Ltd., (Australia), 2.625%, 05/05/20		1,894
	1,789	CNOOC Nexen Finance 2014 ULC, (Canada), 4.250%, 04/30/24		1,952
	230	Conoco Funding Co., (Canada), 7.250%, 10/15/31		304
		ConocoPhillips,
	850	5.750%, 02/01/19		929
	200	6.500%, 02/01/39		263
	1,045	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		1,051
		ConocoPhillips Co.,
	205	2.200%, 05/15/20		206
	945	3.350%, 11/15/24		973
	150	4.200%, 03/15/21		162
		Devon Energy Corp.,
	750	3.250%, 05/15/22		744
	522	4.750%, 05/15/42		486
	673	7.950%, 04/15/32		824

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Oil, Gas & Consumable Fuels — continued
		Ecopetrol S.A., (Colombia),
	533	4.125%, 01/16/25		516
	773	5.375%, 06/26/26		789
	226	5.875%, 09/18/23		244
		Encana Corp., (Canada),
	545	6.500%, 05/15/19		584
	150	6.500%, 08/15/34		151
		Energy Transfer Partners LP,
	448	3.600%, 02/01/23		441
	964	4.050%, 03/15/25		963
	364	5.150%, 03/15/45		349
	925	Eni S.p.A., (Italy), Series EX2, 5.700%, 10/01/40 (e)		984
		EnLink Midstream Partners LP,
	140	2.700%, 04/01/19		138
	838	4.150%, 06/01/25		793
	500	5.050%, 04/01/45		434
		Enterprise Products Operating LLC,
	506	3.700%, 02/15/26		527
	343	3.750%, 02/15/25		359
	475	3.900%, 02/15/24		503
	333	3.950%, 02/15/27		350
	199	4.900%, 05/15/46		213
	155	4.950%, 10/15/54		163
	318	5.100%, 02/15/45		351
	201	5.950%, 02/01/41		239
		EOG Resources, Inc.,
	379	2.625%, 03/15/23		378
	600	4.100%, 02/01/21		649
	902	5.100%, 01/15/36		1,035
		Exxon Mobil Corp.,
	1,000	2.397%, 03/06/22		1,029
	1,063	3.043%, 03/01/26		1,128
	393	4.114%, 03/01/46		452
	950	Gulf South Pipeline Co. LP, 4.000%, 06/15/22		918
	180	Hess Corp., 7.875%, 10/01/29		219
		Kerr-McGee Corp.,
	200	6.950%, 07/01/24		234
	1,700	7.875%, 09/15/31		2,057
		Magellan Midstream Partners LP,
	353	3.200%, 03/15/25		356
	1,127	5.150%, 10/15/43		1,235
	250	6.550%, 07/15/19		281
		Marathon Oil Corp.,
	833	2.800%, 11/01/22		761

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 37

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Oil, Gas & Consumable Fuels — continued
	902	5.900%, 03/15/18		939
	1,620	6.000%, 10/01/17		1,675
	578	Marathon Petroleum Corp., 3.625%, 09/15/24		585
		Noble Energy, Inc.,
	314	5.050%, 11/15/44		313
	294	5.625%, 05/01/21		307
		Occidental Petroleum Corp.,
	281	3.400%, 04/15/26		297
	1,022	3.500%, 06/15/25		1,086
		ONEOK Partners LP,
	515	3.200%, 09/15/18		524
	151	3.375%, 10/01/22		152
	2,000	4.900%, 03/15/25		2,166
	334	5.000%, 09/15/23		362
	350	6.650%, 10/01/36		382
	450	8.625%, 03/01/19		508
		Petro-Canada, (Canada),
	324	6.050%, 05/15/18		347
	1,045	6.800%, 05/15/38		1,399
		Petroleos Mexicanos, (Mexico),
	370	4.250%, 01/15/25		370
	974	4.500%, 01/23/26		976
	393	4.875%, 01/18/24		410
	492	5.500%, 06/27/44		465
	617	5.625%, 01/23/46		595
	647	6.375%, 02/04/21 (e)		715
	846	6.375%, 01/23/45		891
	250	6.625%, 06/15/35		270
	538	6.875%, 08/04/26 (e)		626
		Phillips 66,
	314	2.950%, 05/01/17		318
	182	4.300%, 04/01/22		200
		Plains All American Pipeline LP/PAA Finance Corp.,
	323	2.600%, 12/15/19		325
	1,000	3.600%, 11/01/24		970
	2,500	4.650%, 10/15/25		2,594
	1,480	4.900%, 02/15/45		1,362
	649	Schlumberger Holdings Corp., 3.625%, 12/21/22 (e)		692
	831	Sinopec Group Overseas Development 2013 Ltd., (United Kingdom), 4.375%, 10/17/23 (e)		927
		Spectra Energy Capital LLC,
	500	3.300%, 03/15/23		494
	1,500	5.650%, 03/01/20		1,620

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Oil, Gas & Consumable Fuels — continued
	500	6.200%, 04/15/18		531
	400	8.000%, 10/01/19		462
		Spectra Energy Partners LP,
	524	2.950%, 09/25/18		533
	452	5.950%, 09/25/43		547
		Statoil ASA, (Norway),
	1,373	1.150%, 05/15/18		1,369
	353	1.200%, 01/17/18		353
	406	2.450%, 01/17/23		413
	1,071	2.650%, 01/15/24		1,097
	613	3.150%, 01/23/22		649
	456	3.250%, 11/10/24		482
	253	4.250%, 11/23/41		279
		Suncor Energy, Inc., (Canada),
	180	5.950%, 12/01/34		216
	250	6.850%, 06/01/39		345
		Sunoco Logistics Partners Operations LP,
	244	3.900%, 07/15/26		247
	259	4.250%, 04/01/24		269
	531	4.400%, 04/01/21		566
	170	5.300%, 04/01/44		172
	1,133	5.350%, 05/15/45		1,171
	554	Texas Eastern Transmission LP, 2.800%, 10/15/22 (e)		553
		Tosco Corp.,
	310	7.800%, 01/01/27		408
	400	8.125%, 02/15/30		554
		Total Capital International S.A., (France),
	262	1.500%, 02/17/17		262
	508	1.550%, 06/28/17		510
	233	2.700%, 01/25/23		242
	500	2.750%, 06/19/21		524
	370	3.750%, 04/10/24		407
		TransCanada PipeLines Ltd., (Canada),
	394	4.875%, 01/15/26		455
	1,200	6.200%, 10/15/37		1,527
	340	6.500%, 08/15/18		371
	1,100	7.250%, 08/15/38		1,547
	74	Western Gas Partners LP, 5.375%, 06/01/21		80
				89,291
		Total Energy		94,503

SEE NOTES TO FINANCIAL STATEMENTS.

38 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Financials — 9.9%
		Banks — 4.5%
		ABN AMRO Bank N.V., (Netherlands),
	1,594	1.800%, 06/04/18 (e)		1,600
	669	2.500%, 10/30/18 (e)		682
	616	4.750%, 07/28/25 (e)		651
	600	4.800%, 04/18/26 (e)		640
		ANZ New Zealand International Ltd., (New Zealand),
	750	2.600%, 09/23/19 (e)		767
	402	2.850%, 08/06/20 (e)		415
		Australia & New Zealand Banking Group Ltd., (Australia),
	900	1.450%, 05/15/18		900
	1,268	2.400%, 11/23/16 (e)		1,272
	263	4.400%, 05/19/26 (e)		279
	228	4.875%, 01/12/21 (e)		254
		Bank of America Corp.,
	600	2.000%, 01/11/18		604
	1,072	3.300%, 01/11/23		1,113
	1,189	3.500%, 04/19/26		1,241
	4,752	3.875%, 08/01/25		5,090
	972	4.000%, 04/01/24		1,051
	547	4.125%, 01/22/24		596
	700	4.200%, 08/26/24		742
	851	4.250%, 10/22/26		902
	542	4.450%, 03/03/26		583
	2,065	5.000%, 05/13/21		2,317
	740	5.625%, 07/01/20		835
	645	5.650%, 05/01/18		686
	420	5.750%, 12/01/17		442
	400	5.875%, 01/05/21		461
	2,996	6.400%, 08/28/17		3,139
	4,294	6.875%, 04/25/18		4,654
	875	7.625%, 06/01/19		1,005
	1,510	7.800%, 09/15/16		1,512
	1,640	Series L, 2.250%, 04/21/20		1,653
	760	Series L, 2.650%, 04/01/19		778
	921	Series L, 3.950%, 04/21/25		959
		Bank of Montreal, (Canada),
	811	1.400%, 09/11/17		813
	855	2.375%, 01/25/19		872
	1,106	2.550%, 11/06/22		1,136
		Bank of Nova Scotia (The), (Canada),
	2,000	1.450%, 04/25/18		2,005
	1,100	1.700%, 06/11/18		1,106

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Banks — continued
	1,275	Bank of Tokyo-Mitsubishi UFJ Ltd. (The), (Japan), 2.350%, 02/23/17 (e)		1,282
		Banque Federative du Credit Mutuel S.A., (France),
	1,600	1.700%, 01/20/17 (e)		1,602
	245	2.000%, 04/12/19 (e)		247
		Barclays Bank plc, (United Kingdom),
	276	2.250%, 05/10/17 (e)		278
	1,000	6.050%, 12/04/17 (e)		1,050
	310	Series 1, 5.000%, 09/22/16		310
		Barclays plc, (United Kingdom),
	1,449	3.200%, 08/10/21		1,458
	1,808	3.650%, 03/16/25		1,798
	400	4.375%, 01/12/26		418
	435	5.250%, 08/17/45		500
		BB&T Corp.,
	900	2.625%, 06/29/20		928
	740	5.250%, 11/01/19		816
	380	6.850%, 04/30/19		431
	600	BNP Paribas S.A., (France), 4.375%, 05/12/26 (e)		621
	632	BNZ International Funding Ltd., (New Zealand), 2.350%, 03/04/19 (e)		641
	695	Branch Banking & Trust Co., 5.625%, 09/15/16		696
	1,952	Canadian Imperial Bank of Commerce, (Canada), 2.250%, 07/21/20 (e)		1,990
	1,650	Capital One Bank USA N.A., 3.375%, 02/15/23		1,695
		Capital One N.A.,
	978	2.350%, 08/17/18		991
	850	2.400%, 09/05/19		865
		Citigroup, Inc.,
	1,000	1.700%, 04/27/18		1,001
	800	1.750%, 05/01/18		801
	507	1.800%, 02/05/18		509
	1,210	2.050%, 12/07/18		1,219
	1,096	2.150%, 07/30/18		1,106
	115	2.350%, 08/02/21		115
	500	2.400%, 02/18/20		506
	778	2.700%, 03/30/21		793
	1,000	3.400%, 05/01/26		1,029
	1,900	3.700%, 01/12/26		2,006
	500	3.875%, 03/26/25		516
	1,200	4.300%, 11/20/26		1,260
	569	4.400%, 06/10/25		603
	555	4.650%, 07/30/45		633
	1,000	4.750%, 05/18/46		1,061

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 39

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Banks — continued
	137	5.300%, 05/06/44		159
	865	5.500%, 09/13/25		980
	321	5.875%, 01/30/42		416
	250	6.625%, 01/15/28		316
	223	8.125%, 07/15/39		354
	148	Comerica, Inc., 3.800%, 07/22/26		153
		Commonwealth Bank of Australia, (Australia),
	1,080	2.250%, 03/16/17 (e)		1,087
	832	4.500%, 12/09/25 (e)		890
		Cooperatieve Rabobank UA, (Netherlands),
	1,000	2.500%, 01/19/21		1,027
	455	3.375%, 01/19/17		459
	789	3.875%, 02/08/22		862
	1,488	4.375%, 08/04/25		1,575
	500	5.800%, 09/30/101 (e)		655
	1,400	Credit Agricole S.A., (France), 4.375%, 03/17/25 (e)		1,441
		Credit Suisse Group Funding Guernsey Ltd., (United Kingdom),
	250	2.750%, 03/26/20		251
	310	3.450%, 04/16/21 (e)		317
	340	3.750%, 03/26/25		340
	419	3.800%, 09/15/22		427
	800	3.800%, 06/09/23 (e)		811
	762	4.550%, 04/17/26 (e)		805
	484	4.875%, 05/15/45		525
		Discover Bank,
	343	3.100%, 06/04/20		353
	1,000	3.200%, 08/09/21		1,027
	1,101	4.200%, 08/08/23		1,180
		Fifth Third Bancorp,
	1,028	2.875%, 07/27/20		1,065
	760	5.450%, 01/15/17		771
		Fifth Third Bank,
	600	2.375%, 04/25/19		612
	340	2.875%, 10/01/21		355
		HSBC Bank plc, (United Kingdom),
	1,438	1.500%, 05/15/18 (e)		1,434
	666	4.125%, 08/12/20 (e)		716
	575	4.750%, 01/19/21 (e)		636
		HSBC Holdings plc, (United Kingdom),
	1,854	3.600%, 05/25/23		1,918
	200	3.900%, 05/25/26		209
	1,056	4.000%, 03/30/22		1,129
	939	4.250%, 08/18/25		974

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Banks — continued
	600	6.100%, 01/14/42		815
	321	Huntington Bancshares, Inc., 3.150%, 03/14/21		334
		Huntington National Bank (The),
	250	2.000%, 06/30/18		252
	858	2.875%, 08/20/20		883
	680	Industrial & Commercial Bank of China Ltd., (China), 2.351%, 11/13/17		684
	729	KeyBank N.A., 3.180%, 05/22/22		755
		KeyCorp,
	315	2.900%, 09/15/20		327
	300	5.100%, 03/24/21		339
		Lloyds Bank plc, (United Kingdom),
	651	1.750%, 03/16/18		651
	666	2.050%, 01/22/19		668
	2,100	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		2,235
	422	Mitsubishi UFJ Financial Group, Inc., (Japan), 2.950%, 03/01/21		435
		Mizuho Bank Ltd., (Japan),
	393	1.800%, 03/26/18 (e)		394
	623	2.650%, 09/25/19 (e)		636
	742	Mizuho Financial Group, Inc., (Japan), 2.632%, 04/12/21 (e)		753
	270	MUFG Americas Holdings Corp., 2.250%, 02/10/20		272
	1,500	National Australia Bank Ltd., (Australia), 2.000%, 06/20/17 (e)		1,511
	250	National City Bank, 5.800%, 06/07/17		258
		Nordea Bank AB, (Sweden),
	1,000	1.625%, 05/15/18 (e)		1,003
	1,800	3.125%, 03/20/17 (e)		1,820
	945	4.250%, 09/21/22 (e)		1,016
		PNC Bank N.A.,
	490	1.950%, 03/04/19		496
	400	6.875%, 04/01/18		433
		PNC Financial Services Group, Inc. (The),
	182	3.900%, 04/29/24		196
	864	4.375%, 08/11/20		946
	950	5.625%, 02/01/17		967
	298	6.700%, 06/10/19		340
	709	SUB, 2.854%, 11/09/22		728
	964	Regions Financial Corp., 3.200%, 02/08/21		999
		Royal Bank of Canada, (Canada),
	985	1.200%, 09/19/17		985
	1,450	1.875%, 02/05/20		1,464

SEE NOTES TO FINANCIAL STATEMENTS.

40 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Banks — continued
	1,789	2.000%, 10/01/18		1,810
	1,000	2.200%, 07/27/18		1,015
	800	Royal Bank of Scotland Group plc, (United Kingdom), 4.800%, 04/05/26		837
		Santander UK Group Holdings plc, (United Kingdom),
	180	2.875%, 10/16/20		181
	452	3.125%, 01/08/21		459
	909	Santander UK plc, (United Kingdom), 2.500%, 03/14/19		922
	402	Skandinaviska Enskilda Banken AB, (Sweden), 1.750%, 03/19/18 (e)		404
	850	Societe Generale S.A., (France), 2.500%, 04/08/21 (e)		875
	927	SpareBank 1 Boligkreditt A.S., (Norway), 1.750%, 11/15/19 (e)		928
	1,148	Stadshypotek AB, (Sweden), 1.875%, 10/02/19 (e)		1,157
		Standard Chartered plc, (United Kingdom),
	769	4.050%, 04/12/26 (e)		796
	1,300	5.200%, 01/26/24 (e)		1,395
	872	Sumitomo Mitsui Financial Group, Inc., (Japan), 2.632%, 07/14/26		864
		SunTrust Banks, Inc.,
	253	2.900%, 03/03/21		262
	880	6.000%, 09/11/17		919
		Toronto-Dominion Bank (The), (Canada),
	2,350	1.500%, 03/13/17 (e)		2,355
	229	2.125%, 04/07/21		232
	521	2.250%, 11/05/19		532
		U.S. Bancorp,
	550	1.650%, 05/15/17		552
	540	3.000%, 03/15/22		571
	566	4.125%, 05/24/21		628
	1,277	7.500%, 06/01/26		1,721
	896	U.S. Bank N.A., 2.800%, 01/27/25		926
	1,000	US Bancorp, Series V, 2.375%, 07/22/26		992
	6,606	Wachovia Corp., 5.750%, 02/01/18		7,015
		Wells Fargo & Co.,
	1,200	2.150%, 01/30/20		1,220
	2,174	2.600%, 07/22/20		2,236
	453	3.000%, 02/19/25		466
	540	3.000%, 04/22/26		554
	1,000	3.300%, 09/09/24		1,056
	850	3.500%, 03/08/22		908
	484	4.100%, 06/03/26		525

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Banks — continued
	694	4.300%, 07/22/27		766
	702	4.480%, 01/16/24		777
	500	4.600%, 04/01/21		556
	920	4.650%, 11/04/44		1,010
	1,280	5.606%, 01/15/44		1,598
	1,000	5.625%, 12/11/17		1,054
	250	Wells Fargo Bank N.A., 6.000%, 11/15/17		264
		Westpac Banking Corp., (Australia),
	338	2.000%, 03/03/20 (e)		341
	2,141	4.875%, 11/19/19		2,345
				169,378
		Capital Markets — 2.4%
		Ameriprise Financial, Inc.,
	761	2.875%, 09/15/26		764
	1,500	4.000%, 10/15/23		1,643
		Bank of New York Mellon Corp. (The),
	880	2.200%, 03/04/19		895
	909	2.600%, 08/17/20		937
	254	2.800%, 05/04/26		262
	700	3.250%, 09/11/24		746
	413	3.550%, 09/23/21		444
	760	4.600%, 01/15/20		833
	950	Series 0012, 3.650%, 02/04/24		1,041
		BlackRock, Inc.,
	660	3.375%, 06/01/22		711
	540	3.500%, 03/18/24		597
	430	4.250%, 05/24/21		479
	385	6.250%, 09/15/17		405
	437	Series 2, 5.000%, 12/10/19		487
		Blackstone Holdings Finance Co. LLC,
	429	4.450%, 07/15/45 (e)		447
	1,940	5.875%, 03/15/21 (e)		2,252
	340	Charles Schwab Corp. (The), 3.225%, 09/01/22		361
		CME Group, Inc.,
	1,230	3.000%, 09/15/22		1,301
	777	3.000%, 03/15/25		819
	285	5.300%, 09/15/43		378
		Credit Suisse AG, (Switzerland),
	417	1.750%, 01/29/18		418
	728	2.300%, 05/28/19		738
	271	3.000%, 10/29/21		279
	402	3.625%, 09/09/24		422

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 41

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Capital Markets — continued
		Deutsche Bank AG, (Germany),
	591	1.875%, 02/13/18		588
	616	2.950%, 08/20/20		615
	984	3.375%, 05/12/21		983
	805	6.000%, 09/01/17		836
	500	FMR LLC, 6.450%, 11/15/39 (e)		672
		Goldman Sachs Group, Inc. (The),
	952	2.600%, 04/23/20		971
	1,309	2.625%, 01/31/19		1,342
	300	2.625%, 04/25/21		305
	453	2.750%, 09/15/20		465
	1,720	2.875%, 02/25/21		1,769
	557	3.500%, 01/23/25		578
	525	3.750%, 05/22/25		555
	469	3.750%, 02/25/26		496
	1,100	4.000%, 03/03/24		1,185
	1,415	4.250%, 10/21/25		1,501
	848	5.250%, 07/27/21		963
	1,786	5.375%, 03/15/20		1,987
	1,200	5.750%, 01/24/22		1,392
	2,590	5.950%, 01/18/18		2,745
	685	6.750%, 10/01/37		879
	2,678	7.500%, 02/15/19		3,049
	949	Series D, 6.000%, 06/15/20		1,083
		ING Bank N.V., (Netherlands),
	900	1.650%, 08/15/19 (e)		898
	1,445	3.750%, 03/07/17 (e)		1,463
		Intercontinental Exchange, Inc.,
	447	2.500%, 10/15/18		458
	884	4.000%, 10/15/23		975
		Invesco Finance plc, (United Kingdom),
	390	3.750%, 01/15/26		419
	657	4.000%, 01/30/24		719
		Jefferies Group LLC,
	1,015	5.125%, 04/13/18		1,060
	1,010	6.450%, 06/08/27		1,132
	880	6.875%, 04/15/21		1,010
		Macquarie Bank Ltd., (Australia),
	2,615	1.600%, 10/27/17 (e)		2,621
	896	2.600%, 06/24/19 (e)		912
	1,000	2.850%, 07/29/20 (e)		1,022
	1,000	4.000%, 07/29/25 (e)		1,070
		Macquarie Group Ltd., (Australia),
	1,200	6.000%, 01/14/20 (e)		1,330
	1,650	6.250%, 01/14/21 (e)		1,878

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Capital Markets — continued
		Morgan Stanley,
	1,064	2.500%, 04/21/21		1,075
	500	2.650%, 01/27/20		513
	2,365	2.800%, 06/16/20		2,432
	1,250	3.700%, 10/23/24		1,325
	946	3.875%, 01/27/26		1,010
	2,873	4.000%, 07/23/25		3,103
	1,550	4.100%, 05/22/23		1,643
	480	4.350%, 09/08/26		514
	1,574	5.000%, 11/24/25		1,755
	475	5.500%, 07/24/20		536
	559	5.500%, 07/28/21		640
	1,265	5.625%, 09/23/19		1,406
	906	5.750%, 01/25/21		1,038
	1,400	6.625%, 04/01/18		1,508
	970	7.300%, 05/13/19		1,107
	547	Nomura Holdings, Inc., (Japan), 6.700%, 03/04/20		629
		State Street Corp.,
	369	3.100%, 05/15/23		385
	2,792	3.550%, 08/18/25		3,051
	1,164	3.700%, 11/20/23		1,284
	379	TD Ameritrade Holding Corp., 2.950%, 04/01/22		395
		Thomson Reuters Corp., (Canada),
	482	3.850%, 09/29/24		516
	1,278	3.950%, 09/30/21		1,365
	441	4.500%, 05/23/43		472
	325	4.700%, 10/15/19		352
				87,639
		Consumer Finance — 0.9%
	506	AerCap Ireland Capital Ltd./AerCap Global Aviation Trust, (Ireland), 3.950%, 02/01/22		525
	700	American Express Co., 7.000%, 03/19/18		759
		American Express Credit Corp.,
	1,140	1.800%, 07/31/18		1,150
	1,028	1.875%, 11/05/18		1,038
	1,841	2.250%, 05/05/21		1,872
	1,455	2.375%, 05/26/20		1,489
		American Honda Finance Corp.,
	533	1.600%, 02/16/18 (e)		537
	565	2.125%, 02/28/17 (e)		568
	363	2.125%, 10/10/18		370
	417	2.250%, 08/15/19		428
	1,599	2.600%, 09/20/16 (e)		1,600
	150	7.625%, 10/01/18 (e)		168

SEE NOTES TO FINANCIAL STATEMENTS.

42 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Consumer Finance — continued
		Capital One Financial Corp.,
	750	3.200%, 02/05/25		763
	1,281	3.500%, 06/15/23		1,338
	300	3.750%, 04/24/24		318
	1,462	4.200%, 10/29/25		1,527
		Caterpillar Financial Services Corp.,
	882	2.250%, 12/01/19		903
	402	2.850%, 06/01/22		420
	340	7.050%, 10/01/18		380
	585	7.150%, 02/15/19		666
		Ford Motor Credit Co. LLC,
	472	1.684%, 09/08/17		472
	340	2.145%, 01/09/18		342
	991	2.240%, 06/15/18		999
	513	2.375%, 03/12/19		520
	1,653	3.000%, 06/12/17		1,673
	507	3.096%, 05/04/23		513
	1,162	4.134%, 08/04/25		1,233
	200	4.250%, 09/20/22		216
		General Motors Financial Co., Inc.,
	489	3.100%, 01/15/19		499
	1,091	3.200%, 07/13/20		1,115
	1,230	3.700%, 05/09/23		1,254
	207	HSBC Finance Corp., 7.350%, 11/27/32		264
		HSBC USA, Inc.,
	800	1.625%, 01/16/18		800
	1,077	2.350%, 03/05/20		1,083
	2,469	2.750%, 08/07/20		2,522
		John Deere Capital Corp.,
	335	1.700%, 01/15/20		338
	400	2.450%, 09/11/20		412
	893	2.800%, 03/06/23		935
	233	3.150%, 10/15/21		248
	874	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		879
	626	PACCAR Financial Corp., 1.400%, 05/18/18		630
		Toyota Motor Credit Corp.,
	412	1.450%, 01/12/18		414
	558	2.100%, 01/17/19		568
				34,748
		Diversified Financial Services — 1.0%
	1,455	Bank of America N.A., 5.300%, 03/15/17		1,486
		Berkshire Hathaway, Inc.,
	233	3.000%, 02/11/23		248
	2,498	3.400%, 01/31/22		2,692

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Diversified Financial Services — continued
	840	3.750%, 08/15/21		921
		GE Capital International Funding Co. Unlimited Co., (Ireland),
	3,710	2.342%, 11/15/20		3,818
	2,986	3.373%, 11/15/25		3,260
	3,040	4.418%, 11/15/35		3,480
	300	Murray Street Investment Trust I, SUB, 4.647%, 03/09/17		305
	290	National Rural Utilities Cooperative Finance Corp., 10.375%, 11/01/18		344
	200	Nationwide Building Society, (United Kingdom), 2.450%, 07/27/21 (e)		202
		Private Export Funding Corp.,
	5,000	Series EE, 2.800%, 05/15/22		5,299
	681	Series KK, 3.550%, 01/15/24		758
		Shell International Finance B.V., (Netherlands),
	212	1.125%, 08/21/17		212
	804	2.125%, 05/11/20		820
	2,953	2.875%, 05/10/26		3,037
	2,854	4.000%, 05/10/46		2,990
	789	4.125%, 05/11/35		865
	1,020	4.300%, 09/22/19		1,107
	1,005	4.375%, 03/25/20		1,101
	1,280	6.375%, 12/15/38		1,761
		Siemens Financieringsmaatschappij N.V., (Netherlands),
	634	2.900%, 05/27/22 (e)		670
	513	4.400%, 05/27/45 (e)		623
	300	5.750%, 10/17/16 (e)		302
		UBS Group Funding Jersey Ltd., (Jersey),
	269	2.650%, 02/01/22 (e)		269
	300	4.125%, 09/24/25 (e)		316
	963	4.125%, 04/15/26 (e)		1,016
	540	Voya Financial, Inc., 3.650%, 06/15/26		544
				38,446
		Insurance — 1.0%
	520	AIG SunAmerica Global Financing X, 6.900%, 03/15/32 (e)		691
	651	Allstate Corp. (The), 3.150%, 06/15/23		692
		American International Group, Inc.,
	674	3.750%, 07/10/25		711
	296	3.875%, 01/15/35		294
	471	4.125%, 02/15/24		507
	1,685	4.700%, 07/10/35		1,818
	170	4.875%, 06/01/22		190

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 43

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Insurance — continued
	306	Aon Corp., 6.250%, 09/30/40		396
	452	Aon plc, (United Kingdom), 3.875%, 12/15/25		486
		Berkshire Hathaway Finance Corp.,
	404	1.300%, 05/15/18		405
	748	4.300%, 05/15/43		859
	1,574	4.400%, 05/15/42		1,826
	120	Chubb Corp. (The), 5.750%, 05/15/18		129
		Chubb INA Holdings, Inc.,
	380	2.300%, 11/03/20		391
	533	2.875%, 11/03/22		561
		CNA Financial Corp.,
	463	3.950%, 05/15/24		488
	337	4.500%, 03/01/26		365
		Jackson National Life Global Funding,
	563	1.875%, 10/15/18 (e)		569
	675	3.050%, 04/29/26 (e)		686
		Liberty Mutual Group, Inc.,
	408	5.000%, 06/01/21 (e)		452
	900	6.500%, 03/15/35 (e)		1,140
	100	Liberty Mutual Insurance Co., 8.500%, 05/15/25 (e)		128
	598	Lincoln National Corp., 4.200%, 03/15/22		646
		Marsh & McLennan Cos., Inc.,
	676	2.350%, 03/06/20		687
	288	3.300%, 03/14/23		302
		Massachusetts Mutual Life Insurance Co.,
	280	5.375%, 12/01/41 (e)		335
	300	8.875%, 06/01/39 (e)		478
	626	MassMutual Global Funding II, 2.500%, 10/17/22 (e)		632
		MetLife, Inc.,
	600	4.875%, 11/13/43		675
	555	Series A, 6.817%, 08/15/18		612
		Metropolitan Life Global Funding I,
	604	1.500%, 01/10/18 (e)		607
	938	2.300%, 04/10/19 (e)		957
	1,900	3.650%, 06/14/18 (e)		1,978
	1,277	3.875%, 04/11/22 (e)		1,384
	1,750	Nationwide Mutual Insurance Co., 9.375%, 08/15/39 (e)		2,796
		New York Life Global Funding,
	129	1.950%, 02/11/20 (e)		131
	3,951	2.150%, 06/18/19 (e)		4,029
	650	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		663

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Insurance — continued
	570	Pacific Life Insurance Co., 9.250%, 06/15/39 (e)		900
	384	Pricoa Global Funding I, 1.600%, 05/29/18 (e)		386
	166	Principal Financial Group, Inc., 1.850%, 11/15/17		167
	953	Principal Life Global Funding II, 2.250%, 10/15/18 (e)		970
	920	Progressive Corp. (The), 2.450%, 01/15/27		915
	603	Prudential Financial, Inc., Series B, 5.750%, 07/15/33		720
	1,750	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		2,367
	388	Reliance Standard Life Global Funding II, 3.050%, 01/20/21 (e)		398
	285	Travelers Cos., Inc. (The), 5.800%, 05/15/18		306
				37,825
		Thrifts & Mortgage Finance — 0.1%
		BPCE S.A., (France),
	850	1.625%, 01/26/18		852
	800	4.875%, 04/01/26 (e)		843
				1,695
		Total Financials		369,731
		Health Care — 1.4%
		Biotechnology — 0.4%
		Amgen, Inc.,
	237	2.125%, 05/01/20		241
	491	3.625%, 05/22/24		529
	1,000	3.875%, 11/15/21		1,088
	3,420	4.663%, 06/15/51 (e)		3,682
	500	4.950%, 10/01/41		570
	680	5.700%, 02/01/19		748
		Baxalta, Inc.,
	500	3.600%, 06/23/22		515
	167	5.250%, 06/23/45		196
		Biogen, Inc.,
	918	3.625%, 09/15/22		982
	250	5.200%, 09/15/45		301
		Celgene Corp.,
	873	2.875%, 08/15/20		906
	1,336	3.250%, 08/15/22		1,394
	929	3.625%, 05/15/24		984
	633	5.000%, 08/15/45		730
		Gilead Sciences, Inc.,
	539	3.250%, 09/01/22		574

SEE NOTES TO FINANCIAL STATEMENTS.

44 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Biotechnology — continued
	632	3.650%, 03/01/26		685
	816	4.600%, 09/01/35		919
				15,044
		Health Care Equipment & Supplies — 0.1%
		Becton, Dickinson & Co.,
	162	2.675%, 12/15/19		168
	243	3.734%, 12/15/24		264
	100	5.000%, 05/15/19		109
	420	Danaher Corp., 2.400%, 09/15/20		433
		Medtronic, Inc.,
	821	3.150%, 03/15/22		872
	960	4.375%, 03/15/35		1,103
	128	Stryker Corp., 3.500%, 03/15/26		136
				3,085
		Health Care Providers & Services — 0.4%
		Aetna, Inc.,
	524	2.800%, 06/15/23		535
	397	4.250%, 06/15/36		413
	265	4.500%, 05/15/42		294
	440	6.750%, 12/15/37		615
		Anthem, Inc.,
	467	2.300%, 07/15/18		474
	615	3.125%, 05/15/22		638
	280	3.300%, 01/15/23		293
	500	4.625%, 05/15/42		553
	535	4.650%, 01/15/43		598
	648	4.650%, 08/15/44		719
		Cardinal Health, Inc.,
	540	2.400%, 11/15/19		551
	690	3.750%, 09/15/25		748
		Express Scripts Holding Co.,
	305	3.000%, 07/15/23		310
	900	3.500%, 06/15/24		934
	639	Laboratory Corp. of America Holdings, 3.200%, 02/01/22		664
	425	Mayo Clinic, Series 2016, 4.128%, 11/15/52		490
	588	Memorial Sloan-Kettering Cancer Center, 4.200%, 07/01/55		671
	251	Quest Diagnostics, Inc., 3.450%, 06/01/26		261
	640	Texas Health Resources, 4.330%, 11/15/55		730
		UnitedHealth Group, Inc.,
	472	1.700%, 02/15/19		476
	173	2.750%, 02/15/23		179
	400	2.875%, 03/15/23		418

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Health Care Providers & Services — continued
	697	3.100%, 03/15/26		735
	697	3.350%, 07/15/22		750
	1,050	3.375%, 11/15/21		1,129
	760	4.625%, 07/15/35		902
	620	6.625%, 11/15/37		898
				15,978
		Life Sciences Tools & Services — 0.0% (g)
		Thermo Fisher Scientific, Inc.,
	369	3.000%, 04/15/23		378
	344	3.150%, 01/15/23		354
	176	3.600%, 08/15/21		187
	343	4.150%, 02/01/24		376
				1,295
		Pharmaceuticals — 0.5%
		AbbVie, Inc.,
	992	1.750%, 11/06/17		996
	1,164	2.500%, 05/14/20		1,191
	491	2.850%, 05/14/23		498
	1,109	2.900%, 11/06/22		1,142
	872	3.200%, 11/06/22		911
	322	3.200%, 05/14/26		330
	315	4.300%, 05/14/36		333
	1,483	4.500%, 05/14/35		1,608
		Actavis Funding SCS, (Luxembourg),
	443	3.450%, 03/15/22		464
	706	4.550%, 03/15/35		760
	275	Actavis, Inc., 3.250%, 10/01/22		285
		Allergan, Inc.,
	250	2.800%, 03/15/23		249
	453	3.375%, 09/15/20		475
	395	Bayer U.S. Finance LLC, 2.375%, 10/08/19 (e)		402
	937	Forest Laboratories LLC, 5.000%, 12/15/21 (e)		1,052
	750	GlaxoSmithKline Capital plc, (United Kingdom), 2.850%, 05/08/22		790
	530	GlaxoSmithKline Capital, Inc., 6.375%, 05/15/38		773
	546	Johnson & Johnson, 3.550%, 03/01/36		615
		Merck & Co., Inc.,
	644	2.350%, 02/10/22		663
	474	2.400%, 09/15/22		489
	562	2.800%, 05/18/23		592
	210	3.700%, 02/10/45		225

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 45

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Pharmaceuticals — continued
		Mylan N.V., (Netherlands),
	463	3.950%, 06/15/26 (e)		477
	318	5.250%, 06/15/46 (e)		349
		Mylan, Inc.,
	520	3.125%, 01/15/23 (e)		519
	250	5.400%, 11/29/43		281
	560	Novartis Capital Corp., 3.400%, 05/06/24		615
	650	Pfizer, Inc., 3.000%, 06/15/23		695
		Zoetis, Inc.,
	193	1.875%, 02/01/18		194
	123	4.700%, 02/01/43		131
				18,104
		Total Health Care		53,506
		Industrials — 1.8%
		Aerospace & Defense — 0.3%
	557	Airbus Group Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		576
		BAE Systems Holdings, Inc.,
	900	3.800%, 10/07/24 (e)		952
	400	6.375%, 06/01/19 (e)		445
	676	BAE Systems plc, (United Kingdom), 5.800%, 10/11/41 (e)		848
	200	Boeing Co. (The), 7.950%, 08/15/24		282
		Lockheed Martin Corp.,
	387	2.125%, 09/15/16		387
	131	3.100%, 01/15/23		138
	1,281	4.070%, 12/15/42		1,385
	292	4.850%, 09/15/41		348
	277	Series B, 6.150%, 09/01/36		376
	300	Northrop Grumman Systems Corp., 7.750%, 02/15/31		448
	1,350	Precision Castparts Corp., 3.250%, 06/15/25		1,453
	340	Raytheon Co., 3.150%, 12/15/24		366
		United Technologies Corp.,
	214	1.800%, 06/01/17		215
	681	3.100%, 06/01/22		730
	543	4.150%, 05/15/45		617
	914	4.500%, 06/01/42		1,083
				10,649
		Air Freight & Logistics — 0.1%
		FedEx Corp.,
	181	3.250%, 04/01/26		191
	318	3.900%, 02/01/35		332
	239	4.100%, 04/15/43		249

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Air Freight & Logistics — continued
		United Parcel Service of America, Inc.,
	355	8.375%, 04/01/20		438
	160	SUB, 8.375%, 04/01/30		237
	214	United Parcel Service, Inc., 2.450%, 10/01/22		223
				1,670
		Airlines — 0.1%
	388	Air Canada 2013-1 Class A Pass-Through Trust, (Canada), 4.125%, 05/15/25 (e)		413
	181	American Airlines 2011-1 Class A Pass-Through Trust, 5.250%, 01/31/21		197
	550	American Airlines 2013-2 Class A Pass-Through Trust, 4.950%, 01/15/23		602
	283	American Airlines 2016-2 Class A Pass Through Trust, 3.650%, 06/15/28		298
	147	Continental Airlines 1999-2 Class A-1 Pass-Through Trust, 7.256%, 03/15/20		158
	386	Continental Airlines 2007-1 Class A Pass-Through Trust, 5.983%, 04/19/22		436
	185	Continental Airlines 2012-2 Class A Pass-Through Trust, 4.000%, 10/29/24		198
	352	Delta Air Lines 2010-2 Class A Pass-Through Trust, 4.950%, 05/23/19		371
	137	Delta Air Lines 2011-1 Class A Pass-Through Trust, 5.300%, 04/15/19		147
	353	Delta Air Lines 2012-1 Class A Pass-Through Trust, 4.750%, 05/07/20		377
	1,045	United Airlines 2016-1 Class A Pass-Through Trust, 3.450%, 07/07/28		1,090
				4,287
		Commercial Services & Supplies — 0.1%
	200	Pitney Bowes, Inc., 5.600%, 03/15/18		211
		Republic Services, Inc.,
	175	2.900%, 07/01/26		178
	614	3.550%, 06/01/22		659
		Waste Management, Inc.,
	556	2.400%, 05/15/23		562
	156	3.900%, 03/01/35		168
	214	4.750%, 06/30/20		237
				2,015
		Construction & Engineering — 0.0% (g)
		ABB Finance USA, Inc.,
	226	1.625%, 05/08/17		227
	292	2.875%, 05/08/22		307
	145	4.375%, 05/08/42		168
	789	Fluor Corp., 3.375%, 09/15/21		844
				1,546

SEE NOTES TO FINANCIAL STATEMENTS.

46 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	182	1.500%, 11/02/17		183
	170	4.000%, 11/02/32		183
	570	5.600%, 05/15/18		609
	300	7.625%, 04/01/24		378
				1,353
		Industrial Conglomerates — 0.3%
		General Electric Co.,
	212	2.700%, 10/09/22		221
	573	3.100%, 01/09/23		611
	573	3.150%, 09/07/22		612
	436	3.375%, 03/11/24		477
	789	4.650%, 10/17/21		901
	191	5.300%, 02/11/21		220
	2,500	5.400%, 02/15/17		2,541
	512	5.500%, 01/08/20		580
	95	5.875%, 01/14/38		130
	794	Series A, 6.750%, 03/15/32		1,135
	415	Honeywell International, Inc., 5.300%, 03/01/18		441
	539	Hutchison Whampoa International 12 II Ltd., (Cayman Islands), 3.250%, 11/08/22 (e)		572
	412	Ingersoll-Rand Global Holding Co., Ltd., 4.250%, 06/15/23		453
		Koninklijke Philips N.V., (Netherlands),
	970	3.750%, 03/15/22		1,044
	409	5.750%, 03/11/18		436
	130	7.200%, 06/01/26		163
		Pentair Finance S.A., (Luxembourg),
	981	2.900%, 09/15/18		988
	450	4.650%, 09/15/25		470
	192	Roper Technologies, Inc., 3.000%, 12/15/20		200
	223	Tyco International Finance S.A., (Luxembourg), 5.125%, 09/14/45		269
				12,464
		Machinery — 0.1%
	164	Caterpillar, Inc., 2.600%, 06/26/22		171
		Deere & Co.,
	819	2.600%, 06/08/22		848
	346	3.900%, 06/09/42		385
		Illinois Tool Works, Inc.,
	400	3.500%, 03/01/24		438
	1,920	3.900%, 09/01/42		2,152
	290	Ingersoll-Rand Co., 6.391%, 11/15/27		344

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Machinery — continued
		Parker-Hannifin Corp.,
	592	4.450%, 11/21/44		712
	215	5.500%, 05/15/18		231
				5,281
		Professional Services — 0.0% (g)
	380	Equifax, Inc., 2.300%, 06/01/21		382
		Road & Rail — 0.7%
		Burlington Northern Santa Fe LLC,
	200	3.000%, 03/15/23		211
	522	3.050%, 03/15/22		553
	300	3.450%, 09/15/21		323
	136	3.600%, 09/01/20		147
	249	3.750%, 04/01/24		275
	500	3.900%, 08/01/46		543
	375	4.375%, 09/01/42		430
	455	4.700%, 09/01/45		549
	769	5.150%, 09/01/43		972
	1,658	5.400%, 06/01/41		2,123
	540	5.650%, 05/01/17		556
	335	5.750%, 03/15/18		358
	425	5.750%, 05/01/40		570
	250	6.700%, 08/01/28		342
		Canadian Pacific Railway Co., (Canada),
	600	4.500%, 01/15/22		658
	1,130	6.125%, 09/15/152		1,409
	250	7.125%, 10/15/31		347
		CSX Corp.,
	400	3.400%, 08/01/24		428
	526	3.950%, 05/01/50		543
	300	4.250%, 06/01/21		330
	191	4.750%, 05/30/42		221
	575	5.500%, 04/15/41		725
	215	7.375%, 02/01/19		244
	500	7.900%, 05/01/17		522
		ERAC USA Finance LLC,
	559	4.500%, 08/16/21 (e)		616
	355	5.250%, 10/01/20 (e)		398
	436	5.625%, 03/15/42 (e)		534
	350	6.375%, 10/15/17 (e)		368
	746	6.700%, 06/01/34 (e)		1,002
		Norfolk Southern Corp.,
	746	3.250%, 12/01/21		788
	595	3.950%, 10/01/42		630
	100	6.000%, 03/15/053		124

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 47

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Road & Rail — continued
	1,510	6.000%, 05/23/114		1,872
	365	7.700%, 05/15/17		381
		Penske Truck Leasing Co. LP/PTL Finance Corp.,
	479	2.875%, 07/17/18 (e)		488
	1,131	3.375%, 02/01/22 (e)		1,169
		Ryder System, Inc.,
	244	2.500%, 03/01/17		245
	240	2.500%, 03/01/18		243
	723	2.500%, 05/11/20		728
	517	2.875%, 09/01/20		527
		Union Pacific Corp.,
	182	2.950%, 01/15/23		191
	838	3.646%, 02/15/24		918
	710	4.163%, 07/15/22		799
	200	4.300%, 06/15/42		229
				25,629
		Trading Companies & Distributors — 0.1%
		Air Lease Corp.,
	743	3.000%, 09/15/23		735
	500	3.875%, 04/01/21		527
		WW Grainger, Inc.,
	436	3.750%, 05/15/46		462
	655	4.600%, 06/15/45		783
				2,507
		Total Industrials		67,783
		Information Technology — 1.2%
		Communications Equipment — 0.1%
		Cisco Systems, Inc.,
	514	2.600%, 02/28/23		536
	197	2.900%, 03/04/21		208
	335	2.950%, 02/28/26		358
	500	3.625%, 03/04/24		556
	350	5.500%, 01/15/40		463
	755	5.900%, 02/15/39		1,040
	850	Harris Corp., 3.832%, 04/27/25		900
				4,061
		Electronic Equipment, Instruments & Components — 0.1%
		Arrow Electronics, Inc.,
	219	3.000%, 03/01/18		222
	190	4.500%, 03/01/23		202
	165	6.000%, 04/01/20		182
	500	6.875%, 06/01/18		534

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Electronic Equipment, Instruments & Components — continued
	1,563	7.500%, 01/15/27		1,939
				3,079
		Internet Software & Services — 0.0% (g)
		eBay, Inc.,
	1,500	2.600%, 07/15/22		1,519
	348	3.450%, 08/01/24		362
	271	4.000%, 07/15/42		255
				2,136
		IT Services — 0.1%
		International Business Machines Corp.,
	409	1.800%, 05/17/19		415
	765	6.220%, 08/01/27		1,016
	371	Total System Services, Inc., 4.800%, 04/01/26		410
		Xerox Corp.,
	271	2.950%, 03/15/17		273
	320	5.625%, 12/15/19		346
	550	6.750%, 02/01/17		561
				3,021
		Semiconductors & Semiconductor Equipment — 0.1%
		Intel Corp.,
	375	3.100%, 07/29/22		400
	397	3.300%, 10/01/21		429
	652	3.700%, 07/29/25		726
	1,185	4.000%, 12/15/32		1,318
	453	4.900%, 07/29/45		550
	365	Texas Instruments, Inc., 1.650%, 08/03/19		370
				3,793
		Software — 0.4%
	470	Intuit, Inc., 5.750%, 03/15/17		481
		Microsoft Corp.,
	262	0.875%, 11/15/17		262
	384	2.125%, 11/15/22		389
	500	2.375%, 02/12/22		516
	1,310	2.375%, 05/01/23		1,344
	291	3.500%, 02/12/35		301
	1,155	3.625%, 12/15/23		1,274
	305	4.000%, 02/12/55		321
	615	4.200%, 11/03/35		697
	117	4.500%, 10/01/40		136
	639	4.750%, 11/03/55		762
		Oracle Corp.,
	312	1.900%, 09/15/21		313
	275	2.800%, 07/08/21		288

SEE NOTES TO FINANCIAL STATEMENTS.

48 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Software — continued
	1,750	2.950%, 05/15/25		1,813
	1,000	3.625%, 07/15/23		1,090
	457	4.300%, 07/08/34		507
	1,740	4.375%, 05/15/55		1,893
	500	5.000%, 07/08/19		551
	813	5.750%, 04/15/18		873
	475	6.500%, 04/15/38		670
				14,481
		Technology Hardware, Storage & Peripherals — 0.4%
		Apple, Inc.,
	927	2.150%, 02/09/22		945
	2,556	2.400%, 05/03/23		2,616
	815	2.450%, 08/04/26		817
	2,364	2.850%, 05/06/21		2,493
	1,539	3.200%, 05/13/25		1,645
	625	3.450%, 02/09/45		615
	569	3.850%, 08/04/46		590
	426	4.500%, 02/23/36		492
	300	Dell, Inc., 7.100%, 04/15/28		312
		Diamond 1 Finance Corp./Diamond 2 Finance Corp.,
	780	4.420%, 06/15/21 (e)		816
	976	5.450%, 06/15/23 (e)		1,040
	857	6.020%, 06/15/26 (e)		918
		HP, Inc.,
	282	4.300%, 06/01/21		304
	472	4.375%, 09/15/21		509
	201	4.650%, 12/09/21		220
	849	6.000%, 09/15/41		876
				15,208
		Total Information Technology		45,779
		Materials — 0.7%
		Chemicals — 0.4%
		Agrium, Inc., (Canada),
	490	3.375%, 03/15/25		504
	525	4.125%, 03/15/35		518
	757	5.250%, 01/15/45		842
	500	CF Industries, Inc., 7.125%, 05/01/20		575
		Dow Chemical Co. (The),
	888	3.000%, 11/15/22		919
	850	3.500%, 10/01/24		902
	347	4.125%, 11/15/21		380
	200	5.250%, 11/15/41		229
	375	7.375%, 11/01/29		510

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Chemicals — continued
	73	8.550%, 05/15/19		86
	253	E.I. du Pont de Nemours & Co., 4.900%, 01/15/41		291
		Ecolab, Inc.,
	447	1.450%, 12/08/17		448
	595	3.250%, 01/14/23		621
	150	5.500%, 12/08/41		189
	208	Monsanto Co., 4.700%, 07/15/64		200
		Mosaic Co. (The),
	280	3.750%, 11/15/21		295
	1,456	4.250%, 11/15/23		1,553
	79	4.875%, 11/15/41		78
	861	5.450%, 11/15/33		944
	347	5.625%, 11/15/43		381
		Potash Corp. of Saskatchewan, Inc., (Canada),
	660	3.000%, 04/01/25		670
	85	3.250%, 12/01/17		87
		PPG Industries, Inc.,
	114	5.500%, 11/15/40		142
	122	6.650%, 03/15/18		131
	355	9.000%, 05/01/21		454
	473	Praxair, Inc., 2.650%, 02/05/25		487
		Union Carbide Corp.,
	1,000	7.500%, 06/01/25		1,259
	850	7.750%, 10/01/96		1,075
				14,770
		Construction Materials — 0.1%
		CRH America, Inc.,
	417	3.875%, 05/18/25 (e)		447
	893	5.125%, 05/18/45 (e)		1,000
				1,447
		Containers & Packaging — 0.0% (g)
	600	International Paper Co., 7.300%, 11/15/39		811
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	815	3.850%, 09/30/23		890
	150	5.000%, 09/30/43		179
	410	5.400%, 03/29/17		419
	560	6.500%, 04/01/19		629
		Freeport-McMoRan, Inc.,
	1,329	2.150%, 03/01/17		1,324
	1,138	3.875%, 03/15/23		976
	1,020	5.400%, 11/14/34		796
	262	5.450%, 03/15/43		200

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 49

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Metals & Mining — continued
	283	Nucor Corp., 4.000%, 08/01/23		306
	295	Placer Dome, Inc., (Canada), 6.450%, 10/15/35		338
	650	Rio Tinto Finance USA Ltd., (Australia), 9.000%, 05/01/19		773
		Teck Resources Ltd., (Canada),
	514	3.750%, 02/01/23		441
	676	4.750%, 01/15/22		632
				7,903
		Total Materials		24,931
		Real Estate — 0.6%
		Equity Real Estate Investment Trusts (REITs) — 0.6%
		American Tower Corp.,
	312	3.375%, 10/15/26		320
	450	3.500%, 01/31/23		470
	1,000	4.700%, 03/15/22		1,106
	567	5.000%, 02/15/24		648
	100	5.900%, 11/01/21		117
		American Tower Trust I,
	471	1.551%, 03/15/18 (e)		470
	750	3.070%, 03/15/23 (e)		780
	700	AvalonBay Communities, Inc., 2.850%, 03/15/23		713
		Boston Properties LP,
	360	2.750%, 10/01/26		356
	200	3.125%, 09/01/23		207
	483	3.650%, 02/01/26		515
		Crown Castle International Corp.,
	385	2.250%, 09/01/21		384
	980	4.875%, 04/15/22		1,094
	450	5.250%, 01/15/23		514
	239	Duke Realty LP, 3.250%, 06/30/26		245
		Equity Commonwealth,
	600	5.875%, 09/15/20		664
	1,345	6.650%, 01/15/18		1,395
		ERP Operating LP,
	853	3.000%, 04/15/23		877
	364	4.625%, 12/15/21		408
		HCP, Inc.,
	265	3.400%, 02/01/25		261
	1,204	3.875%, 08/15/24		1,232
	230	4.200%, 03/01/24		241
	1,090	4.250%, 11/15/23		1,148
	783	National Retail Properties, Inc., 4.000%, 11/15/25		840

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Equity Real Estate Investment Trusts (REITs) — continued
		Prologis LP,
	133	3.750%, 11/01/25		144
	534	4.250%, 08/15/23		592
		Simon Property Group LP,
	917	2.150%, 09/15/17		924
	868	3.375%, 10/01/24		930
	532	3.750%, 02/01/24		581
	579	4.125%, 12/01/21		640
	200	4.375%, 03/01/21		221
	382	UDR, Inc., 2.950%, 09/01/26		384
		Ventas Realty LP,
	240	3.125%, 06/15/23		245
	242	3.500%, 02/01/25		251
	353	3.750%, 05/01/24		370
	406	4.125%, 01/15/26		439
		Welltower, Inc.,
	223	4.000%, 06/01/25		239
	732	4.500%, 01/15/24		802
		Total Real Estate		21,767
		Telecommunication Services — 1.6%
		Diversified Telecommunication Services — 1.4%
		AT&T, Inc.,
	4,050	3.000%, 06/30/22		4,172
	1,120	3.400%, 05/15/25		1,153
	1,866	3.600%, 02/17/23		1,970
	1,297	3.800%, 03/15/22		1,391
	205	3.875%, 08/15/21		222
	376	3.950%, 01/15/25		403
	879	4.300%, 12/15/42		883
	462	4.350%, 06/15/45		466
	1,000	4.600%, 02/15/21		1,099
	563	4.750%, 05/15/46		602
	860	5.350%, 09/01/40		983
	250	5.500%, 02/01/18		264
	2,000	6.000%, 08/15/40		2,423
	2,700	6.300%, 01/15/38		3,414
	400	6.500%, 09/01/37		520
	700	Bellsouth Capital Funding Corp., 7.875%, 02/15/30		964
	2,250	BellSouth LLC, 6.550%, 06/15/34		2,689
		British Telecommunications plc, (United Kingdom),
	531	2.350%, 02/14/19		542
	150	9.375%, 12/15/30		245
	600	Centel Capital Corp., 9.000%, 10/15/19		694

SEE NOTES TO FINANCIAL STATEMENTS.

50 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Diversified Telecommunication Services — continued
		Deutsche Telekom International Finance B.V., (Netherlands),
	336	2.250%, 03/06/17 (e)		338
	232	4.875%, 03/06/42 (e)		275
	400	6.000%, 07/08/19		449
	325	8.750%, 06/15/30		508
		GTP Acquisition Partners I LLC,
	1,236	2.350%, 06/15/20 (e)		1,228
	1,436	3.482%, 06/16/25 (e)		1,497
	267	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		268
		Orange S.A., (France),
	560	2.750%, 09/14/16		560
	1,305	9.000%, 03/01/31		2,092
	741	Qwest Corp., 6.750%, 12/01/21		826
		Telefonica Emisiones S.A.U., (Spain),
	252	3.192%, 04/27/18		259
	526	5.134%, 04/27/20		583
	316	5.462%, 02/16/21		361
		Verizon Communications, Inc.,
	432	2.625%, 02/21/20		445
	400	3.500%, 11/01/21		430
	2,804	3.500%, 11/01/24		3,007
	938	4.150%, 03/15/24		1,042
	200	4.272%, 01/15/36		210
	2,085	4.400%, 11/01/34		2,217
	1,762	4.500%, 09/15/20		1,944
	730	4.522%, 09/15/48		774
	1,085	4.672%, 03/15/55		1,128
	4,200	4.862%, 08/21/46		4,669
	566	5.012%, 08/21/54		621
	1,514	5.150%, 09/15/23		1,770
	300	5.850%, 09/15/35		375
				52,975
		Wireless Telecommunication Services — 0.2%
		America Movil S.A.B. de C.V., (Mexico),
	640	2.375%, 09/08/16		637
	592	3.125%, 07/16/22		613
		Rogers Communications, Inc., (Canada),
	1,547	4.100%, 10/01/23		1,720
	400	8.750%, 05/01/32		592
		Vodafone Group plc, (United Kingdom),
	957	1.500%, 02/19/18		957
	593	1.625%, 03/20/17		594
				5,113
		Total Telecommunication Services		58,088

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Utilities — 2.0%
		Electric Utilities — 1.4%
		Alabama Power Co.,
	214	3.750%, 03/01/45		227
	239	6.125%, 05/15/38		324
	286	American Electric Power Co., Inc., 1.650%, 12/15/17		287
		Arizona Public Service Co.,
	133	2.200%, 01/15/20		135
	296	4.500%, 04/01/42		351
	467	5.050%, 09/01/41		585
		Baltimore Gas & Electric Co.,
	455	2.800%, 08/15/22		475
	376	3.500%, 08/15/46		383
	1,025	Cleveland Electric Illuminating Co. (The), Series D, 7.880%, 11/01/17		1,095
	831	Comision Federal de Electricidad, (Mexico), 4.875%, 05/26/21 (e)		892
	195	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		209
	224	DTE Electric Co., 2.650%, 06/15/22		232
		Duke Energy Carolinas LLC,
	129	4.250%, 12/15/41		147
	660	5.100%, 04/15/18		702
	100	6.000%, 01/15/38		137
		Duke Energy Florida LLC,
	290	5.650%, 06/15/18		312
	245	6.400%, 06/15/38		350
		Duke Energy Indiana LLC,
	700	3.750%, 05/15/46		740
	1,320	6.350%, 08/15/38		1,872
		Duke Energy Progress LLC,
	540	2.800%, 05/15/22		565
	792	3.250%, 08/15/25		852
	273	4.100%, 05/15/42		303
	125	4.100%, 03/15/43		139
	387	4.150%, 12/01/44		437
	325	5.300%, 01/15/19		354
		Electricite de France S.A., (France),
	770	2.150%, 01/22/19 (e)		780
	1,300	6.000%, 01/22/145 (e)		1,421
	950	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		1,043
	175	Entergy Arkansas, Inc., 3.500%, 04/01/26		190
	336	Entergy Corp., 2.950%, 09/01/26		339
	629	Entergy Louisiana LLC, 3.050%, 06/01/31		642
	559	Entergy Mississippi, Inc., 2.850%, 06/01/28		571

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 51

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Electric Utilities — continued
	316	Exelon Corp., 3.400%, 04/15/26		333
	350	Florida Power & Light Co., 5.950%, 02/01/38		486
	210	Georgia Power Co., 5.950%, 02/01/39		279
	679	Great Plains Energy, Inc., 4.850%, 06/01/21		741
		Hydro-Quebec, (Canada),
	1,000	Series HY, 8.400%, 01/15/22		1,305
	350	Series IO, 8.050%, 07/07/24		484
	100	Indiana Michigan Power Co., 7.000%, 03/15/19		112
	100	Jersey Central Power & Light Co., 7.350%, 02/01/19		112
	784	John Sevier Combined Cycle Generation LLC, 4.626%, 01/15/42		919
		Kansas City Power & Light Co.,
	403	3.150%, 03/15/23		411
	1,400	5.300%, 10/01/41		1,678
	424	Louisville Gas & Electric Co., Series 25, 3.300%, 10/01/25		454
	125	MidAmerican Energy Co., 5.300%, 03/15/18		133
		Nevada Power Co.,
	55	5.375%, 09/15/40		69
	305	5.450%, 05/15/41		394
	720	6.500%, 08/01/18		788
	100	Series N, 6.650%, 04/01/36		138
		NextEra Energy Capital Holdings, Inc.,
	371	2.400%, 09/15/19		377
	725	6.000%, 03/01/19		798
		Niagara Mohawk Power Corp.,
	493	3.508%, 10/01/24 (e)		530
	300	4.881%, 08/15/19 (e)		328
	510	Northern States Power Co., 6.250%, 06/01/36		716
	320	Ohio Power Co., 6.050%, 05/01/18		343
		Oncor Electric Delivery Co. LLC,
	840	6.800%, 09/01/18		925
	110	7.000%, 09/01/22		140
		Pacific Gas & Electric Co.,
	544	2.450%, 08/15/22		557
	492	2.950%, 03/01/26		513
	71	3.250%, 09/15/21		75
	250	3.250%, 06/15/23		266
	781	3.500%, 06/15/25		850
	217	4.450%, 04/15/42		250
	390	4.500%, 12/15/41		451
	90	4.600%, 06/15/43		106
	810	5.625%, 11/30/17		853

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Electric Utilities — continued
	100	6.050%, 03/01/34		136
	160	8.250%, 10/15/18		182
		PacifiCorp,
	180	5.500%, 01/15/19		197
	150	5.650%, 07/15/18		162
		PECO Energy Co.,
	350	2.375%, 09/15/22		357
	175	5.350%, 03/01/18		185
	1,085	Potomac Electric Power Co., 6.500%, 11/15/37		1,557
	200	PPL Capital Funding, Inc., 3.400%, 06/01/23		211
		Progress Energy, Inc.,
	673	3.150%, 04/01/22		707
	300	7.000%, 10/30/31		407
		Public Service Co. of Colorado,
	250	2.250%, 09/15/22		255
	90	3.200%, 11/15/20		95
	214	3.550%, 06/15/46		225
	125	5.800%, 08/01/18		136
	2,490	Public Service Co. of Oklahoma, Series G, 6.625%, 11/15/37		3,283
		Public Service Electric & Gas Co.,
	833	3.000%, 05/15/25		883
	317	5.375%, 11/01/39		413
	210	Series I, 1.800%, 06/01/19		212
	65	South Carolina Electric & Gas Co., 4.500%, 06/01/64		69
		Southern California Edison Co.,
	122	1.845%, 02/01/22		122
	785	5.500%, 08/15/18		851
	1,185	6.050%, 03/15/39		1,656
	200	Series 08-A, 5.950%, 02/01/38		276
	318	Series C, 3.500%, 10/01/23		346
	363	Southern Co. (The), 1.950%, 09/01/16		363
		Southwestern Public Service Co.,
	200	4.500%, 08/15/41		235
	570	Series G, 8.750%, 12/01/18		659
	312	State Grid Overseas Investment 2013 Ltd., (United Kingdom), 1.750%, 05/22/18 (e)		312
	300	Toledo Edison Co. (The), 6.150%, 05/15/37		376
		Virginia Electric & Power Co.,
	64	3.450%, 02/15/24		69
	2,045	5.400%, 04/30/18		2,180
	21	Wisconsin Electric Power Co., 2.950%, 09/15/21		22

SEE NOTES TO FINANCIAL STATEMENTS.

52 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Electric Utilities — continued
		Xcel Energy, Inc.,
	440	3.300%, 06/01/25		465
	92	4.800%, 09/15/41		111
	200	6.500%, 07/01/36		277
				51,997
		Gas Utilities — 0.1%
		Atmos Energy Corp.,
	125	4.125%, 10/15/44		139
	828	4.150%, 01/15/43		909
	375	8.500%, 03/15/19		437
	308	Boston Gas Co., 4.487%, 02/15/42 (e)		343
	335	CenterPoint Energy Resources Corp., 4.500%, 01/15/21		363
	382	Dominion Gas Holdings LLC, 2.800%, 11/15/20		395
	653	Korea Gas Corp., (South Korea), 1.875%, 07/18/21 (e)		656
				3,242
		Independent Power & Renewable Electricity Producers — 0.1%
		Exelon Generation Co. LLC,
	300	2.950%, 01/15/20		309
	1,020	4.000%, 10/01/20		1,087
	235	5.750%, 10/01/41		256
		PSEG Power LLC,
	772	4.150%, 09/15/21		825
	442	4.300%, 11/15/23		477
		Southern Power Co.,
	357	4.150%, 12/01/25		386
	600	5.150%, 09/15/41		662
	417	Tri-State Generation & Transmission Association, Inc., 4.250%, 06/01/46		448
				4,450
		Multi-Utilities — 0.4%
		CMS Energy Corp.,
	475	3.000%, 05/15/26		484
	400	3.875%, 03/01/24		439
	596	Consolidated Edison Co. of New York, Inc., 5.700%, 06/15/40		788
		Consumers Energy Co.,
	216	2.850%, 05/15/22		226
	286	3.250%, 08/15/46		288
	130	5.650%, 04/15/20		147
	235	Delmarva Power & Light Co., 4.000%, 06/01/42		258

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Multi-Utilities — continued
		Dominion Resources, Inc.,
	300	7.000%, 06/15/38		419
	920	Series F, 5.250%, 08/01/33		1,055
		DTE Energy Co.,
	992	3.300%, 06/15/22		1,055
	200	6.375%, 04/15/33		264
	289	Series F, 3.850%, 12/01/23		317
		NiSource Finance Corp.,
	370	3.850%, 02/15/23		397
	1,256	5.800%, 02/01/42		1,615
		San Diego Gas & Electric Co.,
	379	3.950%, 11/15/41		423
	275	6.000%, 06/01/26		359
		Sempra Energy,
	350	2.875%, 10/01/22		362
	236	3.550%, 06/15/24		250
	1,013	4.050%, 12/01/23		1,117
	1,150	6.150%, 06/15/18		1,238
	460	9.800%, 02/15/19		547
		Southern Co. Gas Capital Corp.,
	254	3.250%, 06/15/26		262
	563	3.500%, 09/15/21		593
	208	4.400%, 06/01/43		224
	1,445	5.875%, 03/15/41		1,827
	1,009	WEC Energy Group, Inc., 3.550%, 06/15/25		1,087
				16,041
		Water Utilities — 0.0% (g)
	793	American Water Capital Corp., 3.400%, 03/01/25		856
		Total Utilities		76,586
		Total Corporate Bonds (Cost $867,344)		928,282
	Foreign Government Securities — 1.3%
		Israel Government AID Bond, (Israel),
	6,165	Zero Coupon, 11/01/23		5,322
	2,121	Zero Coupon, 02/15/24		1,815
	5,535	Zero Coupon, 05/01/24		4,708
	1,000	5.500%, 09/18/33		1,418
	1,000	Series 1, Zero Coupon, 11/01/24		854
	2,660	Series 2, Zero Coupon, 11/01/24		2,272
	5,000	Series 7-Z, Zero Coupon, 08/15/25		4,082
	3,424	Series 8-Z, Zero Coupon, 02/15/24		2,931
	2,000	Series 8-Z, Zero Coupon, 08/15/24		1,686
	7,805	Series 10-Z, Zero Coupon, 08/15/24		6,587

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 53

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Foreign Government Securities — continued
	377	Province of Quebec, (Canada), Series A, SUB, 7.365%, 03/06/26		532
		Republic of Colombia, (Colombia),
	422	4.000%, 02/26/24		444
	581	4.500%, 01/28/26		633
	515	5.000%, 06/15/45		558
	200	5.625%, 02/26/44		231
		Republic of Panama, (Panama),
	317	3.750%, 03/16/25		343
	416	4.000%, 09/22/24		457
	88	Republic of Peru, (Peru), 5.625%, 11/18/50		116
	1,133	Republic of Poland, (Poland), 4.000%, 01/22/24		1,258
		Republic of South Africa, (South Africa),
	1,436	5.375%, 07/24/44		1,563
	640	5.875%, 09/16/25		716
		United Mexican States, (Mexico),
	2,030	3.500%, 01/21/21		2,170
	788	3.600%, 01/30/25		833
	1,732	4.000%, 10/02/23		1,881
	316	4.125%, 01/21/26		347
	186	4.350%, 01/15/47		192
	200	4.600%, 01/23/46		216
	120	4.750%, 03/08/44		132
	4,913	5.550%, 01/21/45		6,055
		Total Foreign Government Securities (Cost $46,359)		50,352
	Mortgage Pass-Through Securities — 17.9%
		Federal Home Loan Mortgage Corp.,
	70	ARM, 2.345%, 10/01/36		74
	9	ARM, 2.395%, 07/01/19		9
	318	ARM, 2.496%, 11/01/36		337
	388	ARM, 2.593%, 11/01/36		411
	350	ARM, 2.605%, 12/01/33		371
	363	ARM, 2.634%, 01/01/35		384
	320	ARM, 2.647%, 10/01/36		336
	28	ARM, 2.652%, 04/01/30		29
	316	ARM, 2.655%, 02/01/36		333
	166	ARM, 2.700%, 02/01/36		176
	266	ARM, 2.739%, 12/01/36		281
	87	ARM, 2.760%, 05/01/36		92
	200	ARM, 2.766%, 07/01/36		208
	164	ARM, 2.796%, 02/01/37		174
	161	ARM, 2.818%, 12/01/34		171
	771	ARM, 2.842%, 03/01/37		808
	618	ARM, 2.856%, 04/01/34		654

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	398	ARM, 2.947%, 10/01/36		424
	847	ARM, 3.867%, 07/01/40		879
	5,635	Federal Home Loan Mortgage Corp. Gold Pools, 4.500%, 01/01/46		6,276
		Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	25	4.500%, 08/01/18		26
	83	5.000%, 12/01/18		85
	3	5.500%, 06/01/17		3
	10	6.000%, 04/01/18		10
	50	6.500%, 11/01/17 - 02/01/19		50
		Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	1,875	3.500%, 01/01/32 - 03/01/32		1,997
	57	6.000%, 12/01/22		65
		Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	5,256	3.000%, 08/01/43		5,519
	720	4.000%, 09/01/35		772
	3,778	4.500%, 05/01/41		4,155
	2,979	5.000%, 09/01/34 - 08/01/40		3,311
	1,291	5.500%, 10/01/33 - 07/01/35		1,473
	275	6.000%, 12/01/33 - 01/01/34		319
	1,052	6.500%, 11/01/34 - 11/01/36		1,246
	332	7.000%, 07/01/32 - 10/01/36		385
	263	Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		287
		Federal Home Loan Mortgage Corp. Gold Pools, Other,
	2,255	3.000%, 03/01/33		2,386
	19,893	3.500%, 10/01/32 - 06/01/43		21,226
	18,708	4.000%, 01/01/32 - 01/01/46		20,358
	268	5.500%, 10/01/33 - 01/01/34		295
	251	6.000%, 02/01/33		284
	54	7.000%, 07/01/29		60
		Federal National Mortgage Association,
	2	ARM, 1.875%, 01/01/19		2
	62	ARM, 2.187%, 09/01/34		65
	2	ARM, 2.242%, 03/01/19		2
	694	ARM, 2.297%, 01/01/33		718
	348	ARM, 2.310%, 07/01/33		359
	177	ARM, 2.368%, 09/01/34		185
	732	ARM, 2.373%, 11/01/34		764
	620	ARM, 2.380%, 10/01/34		653
	942	ARM, 2.395%, 01/01/35		984
	125	ARM, 2.403%, 09/01/35		131
	257	ARM, 2.404%, 08/01/34		268

SEE NOTES TO FINANCIAL STATEMENTS.

54 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	187		ARM, 2.408%, 01/01/36		196
	353		ARM, 2.411%, 11/01/34		367
	1,077		ARM, 2.416%, 09/01/35		1,123
	402		ARM, 2.440%, 07/01/36		416
	117		ARM, 2.445%, 07/01/34		124
	380		ARM, 2.452%, 10/01/34		399
	93		ARM, 2.483%, 02/01/35		98
	528		ARM, 2.488%, 06/01/35		554
	143		ARM, 2.527%, 11/01/33		151
	175		ARM, 2.547%, 01/01/34		185
	222		ARM, 2.552%, 04/01/34		230
	352		ARM, 2.555%, 05/01/35		370
	35		ARM, 2.585%, 09/01/27		37
	455		ARM, 2.606%, 08/01/34		480
	409		ARM, 2.620%, 01/01/35		431
	44		ARM, 2.652%, 07/01/33		47
	306		ARM, 2.685%, 09/01/33		327
	403		ARM, 2.729%, 07/01/33		428
	91		ARM, 2.753%, 01/01/38		95
	249		ARM, 2.762%, 04/01/34 - 04/01/35		263
	1,293		ARM, 2.764%, 04/01/35		1,365
	207		ARM, 2.791%, 10/01/34		220
	368		ARM, 2.835%, 05/01/34		389
	475		ARM, 2.837%, 10/01/36		506
	123		ARM, 2.845%, 05/01/35		128
	169		ARM, 2.928%, 06/01/36		178
	37		ARM, 3.250%, 01/01/36		38
	98		ARM, 3.625%, 02/01/34		100
	22		ARM, 3.824%, 03/01/29		23
			Federal National Mortgage Association, 15 Year, Single Family,
	121		4.000%, 08/01/18		125
	717		4.500%, 06/01/18 - 12/01/19		736
	331		5.000%, 06/01/18 - 08/01/24		351
	179		5.500%, 03/01/20 - 07/01/20		185
	2,006		6.000%, 08/01/17 - 01/01/24		2,179
	36		6.500%, 03/01/17 - 08/01/20		38
	19		7.000%, 03/01/17 - 09/01/17		19
	—	(h)	7.500%, 03/01/17		—	(h)
			Federal National Mortgage Association, 20 Year, Single Family,
	1,121		3.500%, 08/01/32		1,194
	65		4.500%, 04/01/24		71
	521		6.500%, 05/01/22 - 04/01/25		598

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Federal National Mortgage Association, 30 Year, FHA/VA,
	72	6.000%, 09/01/33		81
	720	6.500%, 03/01/29 - 08/01/39		843
	12	7.000%, 02/01/33		13
	32	8.000%, 06/01/28		37
	2	9.000%, 05/01/18		2
		Federal National Mortgage Association, 30 Year, Single Family,
	4,603	3.000%, 06/01/43		4,822
	3,184	4.500%, 11/01/33 - 09/01/43		3,487
	947	5.000%, 07/01/33 - 09/01/35		1,063
	1,299	5.500%, 09/01/31 - 03/01/34		1,490
	1,631	6.000%, 12/01/28 - 09/01/37		1,893
	718	6.500%, 11/01/29 - 08/01/31		836
	590	7.000%, 01/01/24 - 01/01/39		685
	216	7.500%, 08/01/36 - 11/01/37		249
	412	8.000%, 03/01/27 - 11/01/28		496
	9	9.500%, 07/01/28		9
		Federal National Mortgage Association, Other,
	912	ARM, 1.265%, 03/01/22		914
	2,347	ARM, 6.070%, 11/01/18		2,420
	2,000	1.690%, 12/01/19		2,011
	3,434	1.735%, 05/01/20		3,457
	3,767	1.750%, 06/01/20		3,795
	1,925	1.940%, 07/01/19		1,949
	1,500	2.000%, 12/01/20		1,530
	12,000	2.010%, 06/01/20		12,207
	222	2.030%, 08/01/19		228
	2,500	2.120%, 09/01/21		2,525
	1,906	2.140%, 04/01/19		1,936
	1,418	2.150%, 04/01/19		1,442
	3,573	2.340%, 12/01/22		3,683
	1,873	2.350%, 05/01/23		1,933
	3,500	2.400%, 12/01/22		3,614
	2,829	2.420%, 06/01/23		2,926
	4,000	2.450%, 11/01/22		4,143
	2,768	2.460%, 02/01/23		2,850
	5,352	2.490%, 10/01/17		5,395
	1,411	2.510%, 06/01/23		1,467
	6,841	2.520%, 10/01/22 - 05/01/23		7,123
	2,500	2.660%, 12/01/22		2,661
	3,000	2.670%, 07/01/22		3,134
	6,513	2.690%, 10/01/17		6,575
	3,118	2.705%, 04/01/23		3,285
	3,090	2.750%, 03/01/22		3,242

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 55

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	3,000	2.760%, 05/01/21		3,144
	1,565	2.770%, 05/01/22		1,647
	5,145	2.780%, 06/01/27		5,407
	4,460	2.783%, 07/01/23		4,712
	10,961	2.790%, 05/01/27 - 06/01/27		11,484
	4,975	2.840%, 01/01/25		5,262
	6,500	2.900%, 12/01/24		6,894
	12,000	2.920%, 12/01/24 - 05/01/30		12,593
	1,389	2.940%, 05/01/22		1,472
	6,278	2.950%, 08/01/23 - 12/01/24		6,679
	3,011	2.960%, 06/01/27		3,209
	7,465	2.970%, 12/01/24 - 06/01/30		7,928
	6,437	2.980%, 03/01/22 - 07/01/22		6,851
	1,000	2.990%, 01/01/25		1,066
	2,481	3.000%, 01/01/43		2,580
	2,383	3.020%, 07/01/23		2,544
	3,182	3.030%, 06/01/35		3,361
	13,000	3.040%, 12/01/24 - 04/01/30		13,879
	5,745	3.050%, 04/01/22		6,102
	6,706	3.070%, 01/01/22		7,118
	14,150	3.080%, 04/01/30 - 06/01/30		15,152
	8,850	3.100%, 05/01/30		9,486
	6,220	3.110%, 12/01/24 - 12/01/26		6,694
	11,756	3.120%, 01/01/22 - 06/01/35		12,568
	2,977	3.140%, 12/01/26		3,209
	1,381	3.150%, 12/01/21		1,470
	2,632	3.160%, 02/01/22		2,810
	3,000	3.170%, 02/01/30		3,249
	3,820	3.200%, 02/01/22		4,092
	9,360	3.230%, 11/01/20		9,942
	4,235	3.240%, 12/01/26		4,599
	13,820	3.250%, 07/01/25 - 09/01/26		15,032
	6,121	3.260%, 01/01/22 - 12/01/26		6,629
	13,906	3.290%, 10/01/20 - 11/01/26		15,123
	8,022	3.300%, 12/01/26 - 07/01/30		8,785
	3,000	3.340%, 02/01/27		3,280
	3,868	3.350%, 11/01/20 - 09/01/30		4,181
	867	3.377%, 11/01/20		924
	2,000	3.380%, 12/01/23		2,190
	2,000	3.390%, 08/01/17		2,026
	1,386	3.430%, 09/01/20		1,481
	42,809	3.500%, 12/01/32 - 01/01/44		45,614
	1,860	3.520%, 01/01/18		1,898
	3,000	3.540%, 10/01/20		3,223
	2,000	3.550%, 02/01/30		2,221
	2,500	3.590%, 08/01/23		2,766

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	2,736	3.600%, 09/01/20		2,943
	947	3.640%, 01/01/25		1,049
	5,000	3.670%, 07/01/23		5,549
	1,500	3.690%, 11/01/23		1,669
	4,418	3.730%, 07/01/22		4,808
	1,809	3.740%, 07/01/20		1,942
	4,928	3.760%, 10/01/23 - 11/01/23		5,492
	4,000	3.765%, 12/01/25		4,493
	3,000	3.770%, 09/01/21		3,270
	3,612	3.783%, 01/01/26		4,065
	6,432	3.790%, 09/01/21		7,018
	1,527	3.870%, 01/01/21		1,662
	3,809	3.930%, 07/01/20 - 01/01/21		4,131
	7,908	3.950%, 07/01/20 - 07/01/21		8,628
	1,826	3.970%, 12/01/25		2,070
	13,099	4.000%, 10/01/32 - 09/01/42		14,175
	1,600	4.120%, 04/01/20		1,730
	4,389	4.130%, 11/01/19 - 08/01/21		4,765
	1,798	4.240%, 11/01/19		1,938
	4,380	4.250%, 04/01/21		4,850
	1,998	4.260%, 07/01/21		2,216
	1,134	4.283%, 01/01/21		1,244
	2,065	4.290%, 06/01/20		2,253
	2,317	4.300%, 08/01/20 - 04/01/21		2,446
	1,303	4.307%, 07/01/21		1,450
	2,039	4.330%, 04/01/21		2,252
	5,000	4.340%, 06/01/21		5,574
	1,416	4.350%, 04/01/20		1,542
	1,870	4.369%, 02/01/20		2,031
	669	4.381%, 04/01/20		728
	1,926	4.390%, 05/01/21		2,137
	2,000	4.400%, 02/01/20		2,173
	2,781	4.480%, 02/01/21		3,081
	9,260	4.500%, 12/01/43 - 03/01/44		10,351
	6,863	4.540%, 01/01/20 - 07/01/26		7,726
	3,731	4.640%, 01/01/21		4,146
	1,817	5.240%, 07/01/19		1,985
	256	5.500%, 03/01/17 - 09/01/33		286
	490	6.000%, 09/01/37 - 06/01/39		548
	155	6.500%, 01/01/36 - 07/01/36		166
	47	7.000%, 10/01/46		52
	21	10.500%, 04/15/19		22
		Government National Mortgage Association II, 30 Year, Single Family,
	1,894	4.250%, 03/20/45		2,055
	200	4.500%, 08/20/33		217

SEE NOTES TO FINANCIAL STATEMENTS.

56 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	1,735		6.000%, 09/20/38		1,981
	43		7.500%, 02/20/28 - 09/20/28		53
	66		8.000%, 12/20/25 - 09/20/28		77
	25		8.500%, 05/20/25		28
			Government National Mortgage Association II, Other,
	9,187		4.375%, 06/20/63		9,935
	9,546		4.433%, 05/20/63		10,319
	3,019		4.462%, 05/20/63		3,262
	2,039		4.479%, 04/20/63		2,203
	9		Government National Mortgage Association, 15 Year, Single Family, 6.500%, 06/15/17		9
			Government National Mortgage Association, 30 Year, Single Family,
	226		6.500%, 03/15/28 - 04/15/33		260
	141		7.000%, 02/15/33 - 06/15/33		169
	32		7.500%, 11/15/22 - 09/15/28		36
	7		8.000%, 09/15/22 - 08/15/28		7
	—	(h)	9.000%, 12/15/16		—	(h)
	193		9.500%, 10/15/24		209
			Total Mortgage Pass-Through Securities (Cost $644,032)		672,137
	Municipal Bonds — 0.3% (t)
			California — 0.0% (g)
	440		Los Angeles City Department of Airports, International Airport, Series C, Rev., 6.582%, 05/15/39		614
	350		State of California, Various Purpose, GO, 7.300%, 10/01/39		541
					1,155
			Illinois — 0.0% (g)
	160		State of Illinois, Taxable Pension, GO, 5.100%, 06/01/33		156
			New York — 0.2%
	360		New York State Dormitory Authority, State Personal Income Tax, General Purpose, Series D, Rev., 5.600%, 03/15/40		495
			Port Authority of New York & New Jersey, Consolidated,
	1,825		Series 164, Rev., 5.647%, 11/01/40		2,457
	440		Series 165, Rev., 5.647%, 11/01/40		592
	2,060		Series 174, Rev., 4.458%, 10/01/62		2,434
					5,978

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Ohio — 0.1%
	1,315	American Municipal Power, Inc., Meldahl Hydroelectric Project, Series B, Rev., 7.499%, 02/15/50		2,003
		Ohio State University, General Receipts,
	200	Rev., 5.590%, 12/01/145		244
	325	Series A, 4.048%, 12/01/56		371
	1,563	Series A, Rev., 4.800%, 06/01/114		1,811
				4,429
		Total Municipal Bonds (Cost $9,342)		11,718
	Preferred Security — 0.0% (g) (x)
		Financials — 0.0% (g)
		Insurance — 0.0% (g)
	526	Dai-ichi Life Insurance Co. Ltd. (The), (Japan), VAR, 4.000%, 07/24/26 (e) (Cost $526)		536
	Supranational — 0.1%
	3,000	African Development Bank, 8.800%, 09/01/19 (Cost $3,490)		3,622
	U.S. Government Agency Securities — 2.6%
	1,525	Federal Home Loan Bank, 5.500%, 07/15/36		2,248
	6,000	Federal National Mortgage Association, Zero Coupon, 06/01/17 (n)		5,971
		Financing Corp. STRIPS,
	4,500	1.584%, 05/11/18 (n)		4,433
	1,240	4.894%, 09/26/19 (n)		1,198
	13,319	Government Trust Certificate, Series 1-Z, Zero Coupon, 10/01/19		12,533
		Residual Funding Corp. STRIPS,
	2,000	1.199%, 01/15/21 (n)		1,881
	12,300	1.651%, 10/15/19 (n)		11,865
	30,450	2.215%, 07/15/20 (n)		28,874
	12,930	2.887%, 10/15/20 (n)		12,246
		Tennessee Valley Authority,
	304	4.625%, 09/15/60		390
	4,196	5.250%, 09/15/39		5,915
	1,115	5.880%, 04/01/36		1,649
		Tennessee Valley Authority STRIPS,
	5,000	3.287%, 11/01/25 (n)		4,025
	800	4.252%, 06/15/35 (n)		452
	2,000	4.323%, 05/01/19 (n)		1,930
		Total U.S. Government Agency Securities (Cost $91,958)		95,610

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 57

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — 21.8%
		U.S. Treasury Bonds,
	3,350	2.875%, 05/15/43		3,807
	700	4.250%, 05/15/39		977
	19,295	4.375%, 11/15/39		27,400
	8,880	4.375%, 05/15/40		12,632
	11,785	4.500%, 08/15/39		17,005
	850	5.250%, 02/15/29		1,189
	300	6.125%, 08/15/29		454
	900	6.250%, 05/15/30		1,399
	4,690	7.500%, 11/15/16		4,758
	864	8.125%, 05/15/21		1,138
	7,000	8.750%, 08/15/20		9,081
		U.S. Treasury Coupon STRIPS,
	8,000	1.568%, 11/15/19 (n)		7,735
	23,265	1.891%, 05/15/21 (n)		21,941
	2,000	2.128%, 02/15/18 (n)		1,978
	14,000	2.181%, 11/15/23 (n)		12,532
	12,570	2.182%, 08/15/23 (n)		11,314
	2,200	2.265%, 02/15/24 (n)		1,961
	18,545	2.304%, 05/15/22 (n)		17,147
	17,095	2.375%, 02/15/21 (n)		16,180
	14,400	2.558%, 11/15/22 (n)		13,174
	1,000	2.610%, 02/15/25 (n)		873
	1,670	2.615%, 02/15/20 (n)		1,610
	15,768	2.635%, 02/15/22 (n)		14,657
	1,500	2.694%, 05/15/25 (n)		1,302
	11,100	2.722%, 08/15/21 (n)		10,411
	15,400	2.801%, 05/15/23 (n)		13,925
	4,800	2.813%, 08/15/22 (n)		4,418
	14,395	2.852%, 08/15/32 (n)		10,403
	33,050	2.908%, 05/15/32 (n)		24,076
	9,575	3.012%, 02/15/32 (n)		7,032
	19,577	3.108%, 05/15/19 (n)		19,079
	38,935	3.126%, 08/15/20 (n)		37,263
	5,000	3.172%, 05/15/31 (n)		3,741
	38,462	3.176%, 02/15/23 (n)		34,988
	9,980	3.219%, 11/15/21 (n)		9,320
	1,592	3.225%, 08/15/26 (n)		1,346
	800	3.241%, 05/15/35 (n)		534
	6,650	3.253%, 11/15/29 (n)		5,171
	54,504	3.396%, 05/15/20 (n)		52,320
	6,015	3.406%, 05/15/28 (n)		4,847
	10,650	3.483%, 11/15/31 (n)		7,857
	9,500	3.528%, 02/15/34 (n)		6,573
	6,600	3.532%, 05/15/34 (n)		4,530
	1,650	3.583%, 08/15/34 (n)		1,125

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	5,500	3.601%, 02/15/33 (n)		3,925
	470	3.685%, 05/15/18 (n)		464
	7,885	3.730%, 11/15/27 (n)		6,442
	2,400	3.733%, 08/15/29 (n)		1,878
	9,700	3.752%, 08/15/31 (n)		7,229
	10,140	3.824%, 11/15/32 (n)		7,279
	16,500	4.010%, 05/15/33 (n)		11,701
	8,000	4.032%, 02/15/31 (n)		6,039
	22,360	4.079%, 08/15/19 (n)		21,713
	6,400	4.366%, 05/15/30 (n)		4,914
	600	4.607%, 02/15/26 (n)		512
	12,800	4.621%, 08/15/30 (n)		9,750
	600	4.641%, 08/15/24 (n)		530
	4,750	4.828%, 11/15/33 (n)		3,319
	9,925	4.910%, 11/15/30 (n)		7,513
	8,300	5.085%, 02/15/27 (n)		6,924
	6,675	5.092%, 08/15/27 (n)		5,497
	8,860	5.095%, 02/15/28 (n)		7,185
	100	5.101%, 08/15/35 (n)		66
	1,200	5.250%, 02/15/35 (n)		807
	23,600	5.346%, 02/15/30 (n)		18,234
	1,700	5.404%, 11/15/24 (n)		1,495
	3,050	5.460%, 08/15/33 (n)		2,147
	1,500	5.989%, 05/15/26 (n)		1,271
	2,500	6.043%, 11/15/28 (n)		1,995
	2,550	6.083%, 05/15/27 (n)		2,112
	200	6.123%, 05/15/24 (n)		178
	11,839	7.161%, 11/15/17 (n)		11,734
	5,857	7.830%, 11/15/16 (n)		5,853
		U.S. Treasury Inflation Indexed Bonds,
	300	1.750%, 01/15/28		401
	300	2.500%, 01/15/29		426
	799	3.625%, 04/15/28		1,638
		U.S. Treasury Inflation Indexed Notes,
	2,453	0.125%, 01/15/22		2,634
	630	1.375%, 07/15/18		729
	607	1.375%, 01/15/20		713
		U.S. Treasury Notes,
	5,000	0.750%, 02/15/19		4,984
	4,510	1.000%, 11/30/19		4,512
	31,250	1.250%, 10/31/18		31,512
	8,635	1.250%, 11/30/18		8,710
	1,500	1.250%, 02/29/20		1,511
	15,000	1.375%, 12/31/18		15,174
	2,000	1.375%, 02/28/19		2,024
	7,400	1.500%, 08/31/18		7,497

SEE NOTES TO FINANCIAL STATEMENTS.

58 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — continued
	3,770	1.500%, 05/31/19		3,830
	4,000	1.750%, 10/31/20		4,097
	1,100	2.000%, 10/31/21		1,141
	1,000	2.125%, 01/31/21		1,041
	36,000	2.125%, 08/15/21		37,531
	2,000	2.125%, 12/31/21		2,087
	10,000	2.250%, 07/31/18		10,272
	1,700	2.375%, 08/15/24		1,809
	700	2.625%, 08/15/20		740
	2,300	2.625%, 11/15/20		2,438
	2,000	2.750%, 12/31/17		2,052
	3,638	3.125%, 05/15/19		3,853
	7,250	3.125%, 05/15/21		7,882
	5,700	3.250%, 12/31/16		5,754
	2,600	3.500%, 02/15/18		2,702
	18,450	3.500%, 05/15/20		20,066
	7,000	3.625%, 02/15/21		7,739
		Total U.S. Treasury Obligations (Cost $748,266)		817,408
	Loan Assignment — 0.2%
		Consumer Discretionary — 0.2%
		Hotels, Restaurants & Leisure — 0.2%
	6,472	Lila Mexican Holdings LLC, Tranche B, VAR, 3.508%, 08/11/22 (Cost $6,275)		6,320

SHARES		SECURITY DESCRIPTION	VALUE($)
	Short-Term Investment — 0.2%
		Investment Company — 0.2%
	5,825	JPMorgan Prime Money Market Fund, Institutional Class Shares, 0.360% (b) (l) (Cost $5,825)		5,825
		Total Investments — 99.5% (Cost $3,519,681)		3,729,221
		Other Assets in Excess of Liabilities — 0.5%		19,086
		NET ASSETS — 100.0%	$	3,748,307

Percentages indicated are based on net assets.

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 59

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited)

(Amounts in thousands)

SHARES			SECURITY DESCRIPTION	VALUE($)
	Common Stocks — 98.0%
			Consumer Discretionary — 12.0%
			Auto Components — 0.3%
	3		BorgWarner, Inc.		114
	4		Delphi Automotive plc, (United Kingdom)		293
	4		Goodyear Tire & Rubber Co. (The)		119
	10		Johnson Controls, Inc.		438
					964
			Automobiles — 0.5%
	59		Ford Motor Co.		747
	21		General Motors Co.		680
	3		Harley-Davidson, Inc.		145
					1,572
			Distributors — 0.1%
	2		Genuine Parts Co.		234
	5		LKQ Corp. (a)		168
					402
			Diversified Consumer Services — 0.0% (g)
	3		H&R Block, Inc.		74
			Hotels, Restaurants & Leisure — 1.7%
	7		Carnival Corp.		319
	—	(h)	Chipotle Mexican Grill, Inc. (a)		184
	2		Darden Restaurants, Inc.		107
	3		Marriott International, Inc., Class A		207
	13		McDonald’s Corp.		1,543
	3		Royal Caribbean Cruises Ltd.		181
	22		Starbucks Corp.		1,252
	3		Starwood Hotels & Resorts Worldwide, Inc.		198
	2		Wyndham Worldwide Corp.		120
	1		Wynn Resorts Ltd.		111
	6		Yum! Brands, Inc.		562
					4,784
			Household Durables — 0.5%
	5		D.R. Horton, Inc.		161
	2		Garmin Ltd., (Switzerland)		88
	1		Harman International Industries, Inc.		91
	2		Leggett & Platt, Inc.		107
	3		Lennar Corp., Class A		132
	1		Mohawk Industries, Inc. (a)		206
	7		Newell Brands, Inc.		389
	5		PulteGroup, Inc.		102
	1		Whirlpool Corp.		206
					1,482

SHARES			SECURITY DESCRIPTION	VALUE($)
			Internet & Direct Marketing Retail — 2.2%
	6		Amazon.com, Inc. (a)		4,523
	2		Expedia, Inc.		195
	7		Netflix, Inc. (a)		634
	1		Priceline Group, Inc. (The) (a)		1,068
	2		TripAdvisor, Inc. (a)		106
					6,526
			Leisure Products — 0.1%
	2		Hasbro, Inc.		140
	5		Mattel, Inc.		171
					311
			Media — 2.6%
	6		CBS Corp. (Non-Voting), Class B		322
	37		Comcast Corp., Class A		2,398
	2		Discovery Communications, Inc., Class A (a)		58
	4		Discovery Communications, Inc., Class C (a)		90
	6		Interpublic Group of Cos., Inc. (The)		142
	6		News Corp., Class A		81
	2		News Corp., Class B		24
	4		Omnicom Group, Inc.		311
	1		Scripps Networks Interactive, Inc., Class A		92
	3		TEGNA, Inc.		67
	12		Time Warner, Inc.		937
	17		Twenty-First Century Fox, Inc., Class A		409
	7		Twenty-First Century Fox, Inc., Class B		163
	5		Viacom, Inc., Class B		213
	23		Walt Disney Co. (The)		2,143
					7,450
			Multiline Retail — 0.6%
	4		Dollar General Corp.		317
	4		Dollar Tree, Inc. (a)		296
	3		Kohl’s Corp.		124
	5		Macy’s, Inc.		169
	2		Nordstrom, Inc.		98
	9		Target Corp.		629
					1,633
			Specialty Retail — 2.6%
	1		Advance Auto Parts, Inc.		176
	1		AutoNation, Inc. (a)		51
	—	(h)	AutoZone, Inc. (a)		337
	2		Bed Bath & Beyond, Inc.		109
	4		Best Buy Co., Inc.		165
	3		CarMax, Inc. (a)		174
	2		Foot Locker, Inc.		136

SEE NOTES TO FINANCIAL STATEMENTS.

60 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — continued
		Specialty Retail — continued
	3	Gap, Inc. (The)		86
	19	Home Depot, Inc. (The)		2,536
	4	L Brands, Inc.		293
	13	Lowe’s Cos., Inc.		1,031
	1	O’Reilly Automotive, Inc. (a)		410
	6	Ross Stores, Inc.		380
	1	Signet Jewelers Ltd.		97
	10	Staples, Inc.		84
	2	Tiffany & Co.		119
	10	TJX Cos., Inc. (The)		778
	2	Tractor Supply Co.		170
	1	Ulta Salon Cosmetics & Fragrance, Inc. (a)		235
	1	Urban Outfitters, Inc. (a)		47
				7,414
		Textiles, Apparel & Luxury Goods — 0.8%
	4	Coach, Inc.		161
	6	Hanesbrands, Inc.		152
	3	Michael Kors Holdings Ltd., (United Kingdom) (a)		131
	20	NIKE, Inc., Class B		1,167
	1	PVH Corp.		133
	1	Ralph Lauren Corp.		90
	3	Under Armour, Inc., Class A (a)		110
	3	Under Armour, Inc., Class C (a)		100
	5	VF Corp.		315
				2,359
		Total Consumer Discretionary		34,971
		Consumer Staples — 9.8%
		Beverages — 2.2%
	3	Brown-Forman Corp., Class B		148
	59	Coca-Cola Co. (The)		2,570
	3	Constellation Brands, Inc., Class A		440
	3	Dr. Pepper Snapple Group, Inc.		265
	3	Molson Coors Brewing Co., Class B		287
	2	Monster Beverage Corp. (a)		329
	22	PepsiCo, Inc.		2,344
				6,383
		Food & Staples Retailing — 2.2%
	7	Costco Wholesale Corp.		1,080
	16	CVS Health Corp.		1,525
	14	Kroger Co. (The)		464
	8	Sysco Corp.		413
	13	Walgreens Boots Alliance, Inc.		1,060
	23	Wal-Mart Stores, Inc.		1,658

SHARES		SECURITY DESCRIPTION	VALUE($)
		Food & Staples Retailing — continued
	5	Whole Foods Market, Inc.		148
				6,348
		Food Products — 1.7%
	9	Archer-Daniels-Midland Co.		391
	3	Campbell Soup Co.		166
	7	ConAgra Foods, Inc.		309
	9	General Mills, Inc.		640
	2	Hershey Co. (The)		213
	4	Hormel Foods Corp.		157
	2	JM Smucker Co. (The)		258
	4	Kellogg Co.		315
	9	Kraft Heinz Co. (The)		811
	2	McCormick & Co., Inc. (Non-Voting)		179
	3	Mead Johnson Nutrition Co.		241
	24	Mondelez International, Inc., Class A		1,062
	5	Tyson Foods, Inc., Class A		345
				5,087
		Household Products — 1.9%
	2	Church & Dwight Co., Inc.		194
	2	Clorox Co. (The)		257
	14	Colgate-Palmolive Co.		1,009
	5	Kimberly-Clark Corp.		701
	40	Procter & Gamble Co. (The)		3,533
				5,694
		Personal Products — 0.1%
	3	Estee Lauder Cos., Inc. (The), Class A		302
		Tobacco — 1.7%
	30	Altria Group, Inc.		1,965
	24	Philip Morris International, Inc.		2,356
	13	Reynolds American, Inc.		624
				4,945
		Total Consumer Staples		28,759
		Energy — 6.9%
		Energy Equipment & Services — 1.0%
	7	Baker Hughes, Inc.		327
	1	Diamond Offshore Drilling, Inc.		18
	3	FMC Technologies, Inc. (a)		97
	13	Halliburton Co.		562
	2	Helmerich & Payne, Inc.		99
	6	National Oilwell Varco, Inc.		192
	21	Schlumberger Ltd.		1,669
	5	Transocean Ltd., (Switzerland) (a)		51
				3,015

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 61

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — continued
		Oil, Gas & Consumable Fuels — 5.9%
	8	Anadarko Petroleum Corp.		415
	6	Apache Corp.		286
	7	Cabot Oil & Gas Corp.		174
	9	Chesapeake Energy Corp. (a)		56
	29	Chevron Corp.		2,881
	1	Cimarex Energy Co.		190
	2	Concho Resources, Inc. (a)		274
	19	ConocoPhillips		773
	8	Devon Energy Corp.		345
	8	EOG Resources, Inc.		740
	3	EQT Corp.		188
	63	Exxon Mobil Corp.		5,492
	4	Hess Corp.		218
	28	Kinder Morgan, Inc.		608
	13	Marathon Oil Corp.		194
	8	Marathon Petroleum Corp.		342
	2	Murphy Oil Corp.		66
	3	Newfield Exploration Co. (a)		130
	7	Noble Energy, Inc.		225
	12	Occidental Petroleum Corp.		892
	3	ONEOK, Inc.		150
	7	Phillips 66		558
	2	Pioneer Natural Resources Co.		445
	3	Range Resources Corp.		99
	7	Southwestern Energy Co. (a)		100
	10	Spectra Energy Corp.		370
	2	Tesoro Corp.		138
	7	Valero Energy Corp.		395
	10	Williams Cos., Inc. (The)		290
				17,034
		Total Energy		20,049
		Financials — 13.0%
		Banks — 5.5%
	156	Bank of America Corp.		2,520
	12	BB&T Corp.		480
	45	Citigroup, Inc.		2,130
	8	Citizens Financial Group, Inc.		198
	3	Comerica, Inc.		126
	12	Fifth Third Bancorp		235
	16	Huntington Bancshares, Inc.		165
	56	JPMorgan Chase & Co. (q)		3,752
	16	KeyCorp		207
	2	M&T Bank Corp.		285
	5	People’s United Financial, Inc.		77
	8	PNC Financial Services Group, Inc. (The)		684

SHARES		SECURITY DESCRIPTION	VALUE($)
		Banks — continued
	19	Regions Financial Corp.		192
	8	SunTrust Banks, Inc.		336
	25	U.S. Bancorp		1,089
	70	Wells Fargo & Co.		3,567
	3	Zions Bancorp		95
				16,138
		Capital Markets — 2.6%
	1	Affiliated Managers Group, Inc. (a)		116
	3	Ameriprise Financial, Inc.		255
	16	Bank of New York Mellon Corp. (The)		682
	2	BlackRock, Inc.		713
	18	Charles Schwab Corp. (The)		575
	5	CME Group, Inc.		558
	4	E*TRADE Financial Corp. (a)		112
	6	Franklin Resources, Inc.		204
	6	Goldman Sachs Group, Inc. (The)		995
	2	Intercontinental Exchange, Inc.		511
	6	Invesco Ltd.		198
	2	Legg Mason, Inc.		55
	3	Moody’s Corp.		279
	23	Morgan Stanley		736
	2	Nasdaq, Inc.		125
	3	Northern Trust Corp.		230
	4	S&P Global, Inc.		497
	6	State Street Corp.		423
	4	T. Rowe Price Group, Inc.		262
				7,526
		Consumer Finance — 0.8%
	12	American Express Co.		806
	8	Capital One Financial Corp.		557
	6	Discover Financial Services		376
	5	Navient Corp.		72
	13	Synchrony Financial		353
				2,164
		Diversified Financial Services — 1.5%
	28	Berkshire Hathaway, Inc., Class B (a)		4,287
	5	Leucadia National Corp.		97
				4,384
		Insurance — 2.6%
	6	Aflac, Inc.		467
	6	Allstate Corp. (The)		392
	17	American International Group, Inc.		1,018
	4	Aon plc, (United Kingdom)		448
	3	Arthur J. Gallagher & Co.		133

SEE NOTES TO FINANCIAL STATEMENTS.

62 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — continued
		Insurance — continued
	1	Assurant, Inc.		84
	7	Chubb Ltd., (Switzerland)		896
	2	Cincinnati Financial Corp.		173
	6	Hartford Financial Services Group, Inc. (The)		246
	4	Lincoln National Corp.		175
	4	Loews Corp.		170
	8	Marsh & McLennan Cos., Inc.		536
	17	MetLife, Inc.		725
	4	Principal Financial Group, Inc.		201
	9	Progressive Corp. (The)		289
	7	Prudential Financial, Inc.		533
	2	Torchmark Corp.		110
	4	Travelers Cos., Inc. (The)		528
	4	Unum Group		129
	2	Willis Towers Watson plc, (United Kingdom)		261
	4	XL Group Ltd., (Bermuda) (a)		148
				7,662
		Total Financials		37,874
		Health Care — 14.3%
		Biotechnology — 2.4%
	3	Alexion Pharmaceuticals, Inc. (a)		428
	11	Amgen, Inc.		1,942
	3	Biogen, Inc. (a)		1,018
	12	Celgene Corp. (a)		1,257
	20	Gilead Sciences, Inc.		1,587
	1	Regeneron Pharmaceuticals, Inc. (a)		466
	4	Vertex Pharmaceuticals, Inc. (a)		355
				7,053
		Health Care Equipment & Supplies — 2.7%
	22	Abbott Laboratories		938
	8	Baxter International, Inc.		392
	3	Becton, Dickinson and Co.		572
	21	Boston Scientific Corp. (a)		491
	1	C.R. Bard, Inc.		246
	9	Danaher Corp.		741
	4	Dentsply Sirona, Inc.		219
	3	Edwards Lifesciences Corp. (a)		371
	4	Hologic, Inc. (a)		142
	1	Intuitive Surgical, Inc. (a)		397
	21	Medtronic plc, (Ireland)		1,860
	4	St. Jude Medical, Inc.		337
	5	Stryker Corp.		552
	1	Varian Medical Systems, Inc. (a)		139
	3	Zimmer Biomet Holdings, Inc.		393
				7,790

SHARES		SECURITY DESCRIPTION	VALUE($)
		Health Care Providers & Services — 2.5%
	5	Aetna, Inc.		624
	3	AmerisourceBergen Corp.		243
	4	Anthem, Inc.		500
	5	Cardinal Health, Inc.		395
	3	Centene Corp. (a)		177
	4	Cigna Corp.		500
	2	DaVita, Inc. (a)		160
	10	Express Scripts Holding Co. (a)		699
	5	HCA Holdings, Inc. (a)		346
	1	Henry Schein, Inc. (a)		204
	2	Humana, Inc.		405
	2	Laboratory Corp. of America Holdings (a)		213
	3	McKesson Corp.		631
	1	Patterson Cos., Inc.		58
	2	Quest Diagnostics, Inc.		178
	14	UnitedHealth Group, Inc.		1,966
	1	Universal Health Services, Inc., Class B		165
				7,464
		Health Care Technology — 0.1%
	5	Cerner Corp. (a)		295
		Life Sciences Tools & Services — 0.6%
	5	Agilent Technologies, Inc.		234
	2	Illumina, Inc. (a)		377
	2	PerkinElmer, Inc.		88
	6	Thermo Fisher Scientific, Inc.		910
	1	Waters Corp. (a)		194
				1,803
		Pharmaceuticals — 6.0%
	25	AbbVie, Inc.		1,576
	6	Allergan plc (a)		1,410
	25	Bristol-Myers Squibb Co.		1,456
	15	Eli Lilly & Co.		1,148
	3	Endo International plc, (Ireland) (a)		64
	42	Johnson & Johnson		4,990
	2	Mallinckrodt plc (a)		124
	42	Merck & Co., Inc.		2,642
	7	Mylan N.V. (a)		290
	2	Perrigo Co. plc, (Ireland)		198
	92	Pfizer, Inc.		3,208
	7	Zoetis, Inc.		355
				17,461
		Total Health Care		41,866

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 63

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — continued
		Industrials — 9.7%
		Aerospace & Defense — 2.1%
	9	Boeing Co. (The)		1,178
	4	General Dynamics Corp.		665
	1	L-3 Communications Holdings, Inc.		174
	4	Lockheed Martin Corp.		967
	3	Northrop Grumman Corp.		582
	5	Raytheon Co.		632
	2	Rockwell Collins, Inc.		166
	4	Textron, Inc.		167
	1	TransDigm Group, Inc. (a)		230
	12	United Technologies Corp.		1,259
				6,020
		Air Freight & Logistics — 0.7%
	2	C.H. Robinson Worldwide, Inc.		151
	3	Expeditors International of Washington, Inc.		140
	4	FedEx Corp.		626
	10	United Parcel Service, Inc., Class B		1,146
				2,063
		Airlines — 0.5%
	2	Alaska Air Group, Inc.		126
	8	American Airlines Group, Inc.		293
	12	Delta Air Lines, Inc.		431
	10	Southwest Airlines Co.		358
	5	United Continental Holdings, Inc. (a)		257
				1,465
		Building Products — 0.1%
	1	Allegion plc, (Ireland)		104
	2	Fortune Brands Home & Security, Inc.		148
	5	Masco Corp.		179
				431
		Commercial Services & Supplies — 0.4%
	1	Cintas Corp.		155
	3	Pitney Bowes, Inc.		54
	4	Republic Services, Inc.		182
	1	Stericycle, Inc. (a)		111
	6	Tyco International plc		282
	6	Waste Management, Inc.		402
				1,186
		Construction & Engineering — 0.1%
	2	Fluor Corp.		110
	2	Jacobs Engineering Group, Inc. (a)		98
	2	Quanta Services, Inc. (a)		59
				267

SHARES		SECURITY DESCRIPTION	VALUE($)
		Electrical Equipment — 0.5%
	1	Acuity Brands, Inc.		183
	4	AMETEK, Inc.		173
	7	Eaton Corp. plc		463
	10	Emerson Electric Co.		515
	2	Rockwell Automation, Inc.		230
				1,564
		Industrial Conglomerates — 2.6%
	9	3M Co.		1,652
	140	General Electric Co.		4,367
	12	Honeywell International, Inc.		1,352
	2	Roper Technologies, Inc.		273
				7,644
		Machinery — 1.4%
	9	Caterpillar, Inc.		727
	2	Cummins, Inc.		302
	5	Deere & Co.		384
	2	Dover Corp.		171
	2	Flowserve Corp.		96
	5	Fortive Corp.		240
	5	Illinois Tool Works, Inc.		584
	4	Ingersoll-Rand plc		266
	5	PACCAR, Inc.		319
	2	Parker-Hannifin Corp.		251
	3	Pentair plc, (United Kingdom)		176
	1	Snap-on, Inc.		136
	2	Stanley Black & Decker, Inc.		282
	3	Xylem, Inc.		138
				4,072
		Professional Services — 0.3%
	1	Dun & Bradstreet Corp. (The)		76
	2	Equifax, Inc.		239
	5	Nielsen Holdings plc		292
	2	Robert Half International, Inc.		76
	2	Verisk Analytics, Inc. (a)		195
				878
		Road & Rail — 0.8%
	15	CSX Corp.		411
	1	J.B. Hunt Transport Services, Inc.		107
	2	Kansas City Southern		159
	4	Norfolk Southern Corp.		422
	1	Ryder System, Inc.		54
	13	Union Pacific Corp.		1,221
				2,374

SEE NOTES TO FINANCIAL STATEMENTS.

64 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — continued
		Trading Companies & Distributors — 0.2%
	4	Fastenal Co.		189
	1	United Rentals, Inc. (a)		111
	1	W.W. Grainger, Inc.		198
				498
		Total Industrials		28,462
		Information Technology — 20.6%
		Communications Equipment — 1.0%
	76	Cisco Systems, Inc.		2,404
	1	F5 Networks, Inc. (a)		125
	2	Harris Corp.		176
	5	Juniper Networks, Inc.		124
	2	Motorola Solutions, Inc.		186
				3,015
		Electronic Equipment, Instruments & Components — 0.4%
	5	Amphenol Corp., Class A		292
	16	Corning, Inc.		371
	2	FLIR Systems, Inc.		64
	5	TE Connectivity Ltd., (Switzerland)		346
				1,073
		Internet Software & Services — 4.4%
	3	Akamai Technologies, Inc. (a)		146
	4	Alphabet, Inc., Class A (a)		3,526
	4	Alphabet, Inc., Class C (a)		3,444
	16	eBay, Inc. (a)		517
	35	Facebook, Inc., Class A (a)		4,432
	1	VeriSign, Inc. (a)		108
	13	Yahoo!, Inc. (a)		568
				12,741
		IT Services — 3.6%
	9	Accenture plc, (Ireland), Class A		1,090
	1	Alliance Data Systems Corp. (a)		183
	7	Automatic Data Processing, Inc.		622
	9	Cognizant Technology Solutions Corp., Class A (a)		529
	2	CSRA, Inc.		53
	4	Fidelity National Information Services, Inc.		335
	3	Fiserv, Inc. (a)		348
	2	Global Payments, Inc.		178
	13	International Business Machines Corp.		2,133
	15	MasterCard, Inc., Class A		1,426
	5	Paychex, Inc.		296
	17	PayPal Holdings, Inc. (a)		623
	2	Teradata Corp. (a)		63
	3	Total System Services, Inc.		126

SHARES		SECURITY DESCRIPTION	VALUE($)
		IT Services — continued
	29	Visa, Inc., Class A		2,342
	7	Western Union Co. (The)		161
	14	Xerox Corp.		142
				10,650
		Semiconductors & Semiconductor Equipment — 3.1%
	5	Analog Devices, Inc.		292
	17	Applied Materials, Inc.		494
	6	Broadcom Ltd., (Singapore)		995
	1	First Solar, Inc. (a)		44
	72	Intel Corp.		2,576
	2	KLA-Tencor Corp.		164
	2	Lam Research Corp.		226
	4	Linear Technology Corp.		212
	3	Microchip Technology, Inc.		202
	16	Micron Technology, Inc. (a)		260
	8	NVIDIA Corp.		473
	2	Qorvo, Inc. (a)		111
	22	QUALCOMM, Inc.		1,408
	3	Skyworks Solutions, Inc.		217
	15	Texas Instruments, Inc.		1,062
	4	Xilinx, Inc.		209
				8,945
		Software — 4.3%
	8	Activision Blizzard, Inc.		320
	8	Adobe Systems, Inc. (a)		778
	3	Autodesk, Inc. (a)		230
	4	CA, Inc.		153
	2	Citrix Systems, Inc. (a)		206
	5	Electronic Arts, Inc. (a)		372
	4	Intuit, Inc.		433
	119	Microsoft Corp.		6,865
	47	Oracle Corp.		1,950
	3	Red Hat, Inc. (a)		201
	10	salesforce.com, Inc. (a)		769
	9	Symantec Corp.		225
				12,502
		Technology Hardware, Storage & Peripherals — 3.8%
	83	Apple, Inc.		8,834
	30	EMC Corp.		861
	25	Hewlett Packard Enterprise Co.		542
	26	HP, Inc.		373
	4	NetApp, Inc.		152
	5	Seagate Technology plc		153

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 65

JPMorgan Equity Index Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands, except number of Futures contracts)

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — continued
		Technology Hardware, Storage & Peripherals — continued
	4	Western Digital Corp.		200
				11,115
		Total Information Technology		60,041
		Materials — 2.9%
		Chemicals — 2.1%
	3	Air Products & Chemicals, Inc.		460
	2	Albemarle Corp.		137
	4	CF Industries Holdings, Inc.		92
	17	Dow Chemical Co. (The)		916
	13	E.I. du Pont de Nemours & Co.		924
	2	Eastman Chemical Co.		154
	4	Ecolab, Inc.		494
	2	FMC Corp.		95
	1	International Flavors & Fragrances, Inc.		168
	5	LyondellBasell Industries N.V., Class A		409
	7	Monsanto Co.		707
	5	Mosaic Co. (The)		160
	4	PPG Industries, Inc.		428
	4	Praxair, Inc.		529
	1	Sherwin-Williams Co. (The)		339
				6,012
		Construction Materials — 0.2%
	1	Martin Marietta Materials, Inc.		177
	2	Vulcan Materials Co.		230
				407
		Containers & Packaging — 0.3%
	1	Avery Dennison Corp.		105
	3	Ball Corp.		210
	6	International Paper Co.		303
	2	Owens-Illinois, Inc. (a)		44
	3	Sealed Air Corp.		141
	4	WestRock Co.		184
				987
		Metals & Mining — 0.3%
	20	Alcoa, Inc.		202
	20	Freeport-McMoRan, Inc.		208
	8	Newmont Mining Corp.		308
	5	Nucor Corp.		234
				952
		Total Materials		8,358

SHARES		SECURITY DESCRIPTION	VALUE($)
		Real Estate — 3.0%
		Equity Real Estate Investment Trusts (REITs) — 3.0%
	6	American Tower Corp.		732
	2	Apartment Investment & Management Co., Class A		108
	2	AvalonBay Communities, Inc.		365
	2	Boston Properties, Inc.		327
	5	Crown Castle International Corp.		485
	2	Digital Realty Trust, Inc.		221
	1	Equinix, Inc.		389
	6	Equity Residential		360
	1	Essex Property Trust, Inc.		226
	2	Extra Space Storage, Inc.		153
	1	Federal Realty Investment Trust		171
	9	General Growth Properties, Inc.		258
	7	HCP, Inc.		279
	11	Host Hotels & Resorts, Inc.		202
	4	Iron Mountain, Inc.		140
	6	Kimco Realty Corp.		192
	2	Macerich Co. (The)		157
	8	Prologis, Inc.		424
	2	Public Storage		502
	4	Realty Income Corp.		257
	5	Simon Property Group, Inc.		1,013
	2	SL Green Realty Corp.		179
	4	UDR, Inc.		147
	5	Ventas, Inc.		374
	3	Vornado Realty Trust		279
	5	Welltower, Inc.		417
	11	Weyerhaeuser Co.		362
				8,719
		Real Estate Management & Development — 0.0% (g)
	4	CBRE Group, Inc., Class A (a)		133
		Total Real Estate		8,852
		Telecommunication Services — 2.6%
		Diversified Telecommunication Services — 2.6%
	94	AT&T, Inc.		3,825
	8	CenturyLink, Inc.		231
	18	Frontier Communications Corp.		82
	4	Level 3 Communications, Inc. (a)		219
	62	Verizon Communications, Inc.		3,242
		Total Telecommunication Services		7,599
		Utilities — 3.2%
		Electric Utilities — 2.0%
	3	Alliant Energy Corp.		131
	7	American Electric Power Co., Inc.		482

SEE NOTES TO FINANCIAL STATEMENTS.

66 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

SHARES		SECURITY DESCRIPTION	VALUE($)
	Common Stocks — continued
		Electric Utilities — continued
	10	Duke Energy Corp.		834
	5	Edison International		360
	3	Entergy Corp.		213
	5	Eversource Energy		260
	14	Exelon Corp.		477
	6	FirstEnergy Corp.		211
	7	NextEra Energy, Inc.		848
	8	PG&E Corp.		467
	2	Pinnacle West Capital Corp.		127
	10	PPL Corp.		358
	14	Southern Co. (The)		732
	8	Xcel Energy, Inc.		319
				5,819
		Independent Power & Renewable Electricity Producers — 0.1%
	10	AES Corp.		121
	5	NRG Energy, Inc.		58
				179
		Multi-Utilities — 1.0%
	4	Ameren Corp.		182
	7	CenterPoint Energy, Inc.		147
	4	CMS Energy Corp.		178
	5	Consolidated Edison, Inc.		348
	9	Dominion Resources, Inc.		695
	3	DTE Energy Co.		253
	5	NiSource, Inc.		117
	8	Public Service Enterprise Group, Inc.		329
	2	SCANA Corp.		154
	4	Sempra Energy		377
	5	WEC Energy Group, Inc.		287
				3,067
		Water Utilities — 0.1%
	3	American Water Works Co., Inc.		200
		Total Utilities		9,265
		Total Common Stocks (Cost $128,929)		286,096

SHARES		SECURITY DESCRIPTION	VALUE($)
	Exchange Traded Fund — 0.1%
		U.S. Equity — 0.1%
	2	SPDR S&P 500 ETF Trust (Cost $272)		326
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)		—	(h)
	5	Safeway, Inc., PDC CVR, expiring 01/30/17 (a)		—	(h)
		Total Rights (Cost $–)		—	(h)
PRINCIPAL AMOUNT($)
	Short-Term Investments — 1.7%
		U.S. Treasury Obligation — 0.1%
	240	U.S. Treasury Bill, 0.254%, 11/03/16 (k) (n)		240
SHARES
		Investment Company — 1.6%
	4,537	JPMorgan U.S. Government Money Market Fund, Institutional Class Shares, 0.310% (b) (l)		4,537
		Total Short-Term Investments (Cost $4,777)		4,777
		Total Investments — 99.8% (Cost $133,978)		291,199
		Other Assets in Excess of Liabilities — 0.2%		646
		NET ASSETS — 100.0%	$	291,845

Percentages indicated are based on net assets.

Futures Contracts
NUMBER OF CONTRACTS		DESCRIPTION	EXPIRATION DATE		TRADING CURRENCY		NOTIONAL VALUE AT AUGUST 31, 2016		NET UNREALIZED APPRECIATION (DEPRECIATION)
		Long Futures Outstanding
	44	E-mini S&P 500		09/16/16		USD	$	4,773	$	43

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 67

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — 14.0%
	68	Academic Loan Funding Trust, Series 2012-1A, Class A1, VAR, 1.288%, 12/27/22 (e)		68
		Ally Auto Receivables Trust,
	31	Series 2013-2, Class A3, 0.790%, 01/15/18		31
	120	Series 2013-2, Class A4, 1.240%, 11/15/18		120
	123	Series 2014-SN2, Class A3, 1.030%, 09/20/17		123
	60	Series 2015-SN1, Class A2A, 0.930%, 06/20/17		60
	305	Series 2015-SN1, Class A3, 1.210%, 12/20/17		305
	170	Series 2016-1, Class A3, 1.470%, 04/15/20		171
	500	Series 2016-2, Class A3, 1.350%, 05/15/20		500
		American Credit Acceptance Receivables Trust,
	39	Series 2015-1, Class A, 1.430%, 08/12/19 (e)		39
	106	Series 2015-2, Class A, 1.570%, 06/12/19 (e)		106
	245	Series 2015-2, Class C, 4.320%, 05/12/21 (e)		245
	976	American Homes 4 Rent Trust, Series 2015-SFR1, Class A, 3.467%, 04/17/52 (e)		1,041
		AmeriCredit Automobile Receivables Trust,
	18	Series 2013-5, Class A3, 0.900%, 09/10/18		18
	58	Series 2015-2, Class A2A, 0.830%, 09/10/18		58
	650	Series 2015-2, Class A3, 1.270%, 01/08/20		649
	150	Series 2015-4, Class A3, 1.700%, 07/08/20		150
	750	Anchor Assets IX LLC, Series 2016-1, Class A, 5.125%, 02/15/20 (e)		750
	346	ARLP Securitization Trust, Series 2015-1, Class A1, SUB, 3.967%, 05/25/55 (e)		338
	136	AXIS Equipment Finance Receivables III LLC, Series 2015-1A, Class A2, 1.900%, 03/20/20 (e)		135
		B2R Mortgage Trust,
	124	Series 2015-1, Class A1, 2.524%, 05/15/48 (e)		124
	248	Series 2015-2, Class A, 3.336%, 11/15/48 (e)		254
	250	BA Credit Card Trust, Series 2015-A2, Class A, 1.360%, 09/15/20		251
	239	BCC Funding Corp. X, Series 2015-1, Class A2, 2.224%, 10/20/20 (e)		238
	25	Bear Stearns Asset-Backed Securities Trust, Series 2006-SD1, Class A, VAR, 0.894%, 04/25/36		24
		BMW Vehicle Owner Trust,
	15	Series 2013-A, Class A3, 0.670%, 11/27/17		15

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	106	Series 2014-A, Class A3, 0.970%, 11/26/18		106
	100	Cabela’s Credit Card Master Note Trust, Series 2012-1A, Class A1, 1.630%, 02/18/20 (e)		100
	152	CAM Mortgage LLC, Series 2015-1, Class A, SUB, 3.500%, 07/15/64 (e)		152
		CarFinance Capital Auto Trust,
	50	Series 2014-1A, Class A, 1.460%, 12/17/18 (e)		50
	125	Series 2014-1A, Class B, 2.720%, 04/15/20 (e)		125
	103	Series 2014-2A, Class A, 1.440%, 11/16/20 (e)		103
	93	Series 2015-1A, Class A, 1.750%, 06/15/21 (e)		93
	122	Carlyle Global Market Strategies Commodities Funding Ltd., (Cayman Islands), Series 2014-1A, Class A, VAR, 2.528%, 10/15/21 (e)		100
		CarMax Auto Owner Trust,
	41	Series 2013-4, Class A3, 0.800%, 07/16/18		41
	137	Series 2013-4, Class A4, 1.280%, 05/15/19		137
	195	Series 2014-2, Class A3, 0.980%, 01/15/19		195
	413	Series 2015-2, Class A2A, 0.820%, 06/15/18		412
	105	Series 2016-1, Class A3, 1.610%, 11/16/20		106
	150	Carnow Auto Receivables Trust, Series 2015-1A, Class A, 1.690%, 01/15/20 (e)		150
	18	Centex Home Equity Loan Trust, Series 2004-D, Class AF4, SUB, 5.180%, 06/25/32		18
		Citi Held For Asset Issuance,
	121	Series 2015-PM1, Class A, 1.850%, 12/15/21 (e)		120
	522	Series 2016-MF1, Class A, 4.480%, 08/15/22 (e)		527
	400	Series 2016-MF1, Class B, 6.640%, 08/15/22 (e)		397
	287	Series 2016-PM1, Class A, 4.650%, 04/15/25 (e)		291
	588	Colony American Homes, Series 2014-2A, Class A, VAR, 1.472%, 07/17/31 (e)		583
	300	Concord Funding Co. LLC, Series 2012-2, Class A, 3.145%, 01/15/17 (e)		300
	49	Consumer Credit Origination Loan Trust, Series 2015-1, Class A, 2.820%, 03/15/21 (e)		49
		CPS Auto Receivables Trust,
	46	Series 2012-B, Class A, 2.520%, 09/16/19 (e)		46

SEE NOTES TO FINANCIAL STATEMENTS.

68 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	48	Series 2014-A, Class A, 1.210%, 08/15/18 (e)		48
	68	Series 2014-B, Class A, 1.110%, 11/15/18 (e)		67
	94	Series 2014-C, Class A, 1.310%, 02/15/19 (e)		94
	130	Series 2014-D, Class A, 1.490%, 04/15/19 (e)		130
	118	Series 2015-A, Class A, 1.530%, 07/15/19 (e)		118
	549	Series 2015-B, Class A, 1.650%, 11/15/19 (e)		548
	425	Series 2015-B, Class C, 4.200%, 05/17/21 (e)		409
	310	Series 2015-C, Class D, 4.630%, 08/16/21 (e)		306
	253	Series 2016-A, Class A, 2.250%, 10/15/19 (e)		254
		Credit Acceptance Auto Loan Trust,
	140	Series 2014-1A, Class A, 1.550%, 10/15/21 (e)		140
	363	Series 2015-2A, Class A, 2.400%, 02/15/23 (e)		364
	250	Series 2015-2A, Class C, 3.760%, 02/15/24 (e)		250
	400	Discover Card Execution Note Trust, Series 2015-A3, Class A, 1.450%, 03/15/21		401
		Drive Auto Receivables Trust,
	177	Series 2015-AA, Class D, 4.120%, 07/15/22 (e)		181
	387	Series 2015-BA, Class B, 2.120%, 06/17/19 (e)		387
	320	Series 2015-BA, Class D, 3.840%, 07/15/21 (e)		323
	220	Series 2015-DA, Class D, 4.590%, 01/17/23 (e)		228
		DT Auto Owner Trust,
	67	Series 2015-2A, Class A, 1.240%, 09/17/18 (e)		67
	301	Series 2015-2A, Class D, 4.250%, 02/15/22 (e)		300
	267	Series 2016-1A, Class A, 2.000%, 09/16/19 (e)		268
		Exeter Automobile Receivables Trust,
	194	Series 2014-1A, Class B, 2.420%, 01/15/19 (e)		194
	5	Series 2014-2A, Class A, 1.060%, 08/15/18 (e)		5
	86	Series 2014-3A, Class A, 1.320%, 01/15/19 (e)		86

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	56	Series 2014-3A, Class B, 2.770%, 11/15/19 (e)		56
	93	Series 2015-1A, Class A, 1.600%, 06/17/19 (e)		93
	500	Series 2015-1A, Class B, 2.840%, 03/16/20 (e)		499
	205	Series 2015-2A, Class A, 1.540%, 11/15/19 (e)		204
	167	Series 2016-1A, Class A, 2.350%, 07/15/20 (e)		167
	310	Series 2016-1A, Class C, 5.520%, 10/15/21 (e)		312
	370	Series 2016-2A, Class B, 3.640%, 02/15/22 (e)		369
		Fifth Third Auto Trust,
	57	Series 2014-3, Class A3, 0.960%, 03/15/19		57
	318	Series 2015-1, Class A3, 1.420%, 03/16/20		319
		First Investors Auto Owner Trust,
	8	Series 2014-3A, Class A2, 1.060%, 11/15/18 (e)		7
	138	Series 2014-3A, Class A3, 1.670%, 11/16/20 (e)		138
	66	Series 2015-1A, Class A2, 1.210%, 04/15/19 (e)		66
	148	Series 2015-2A, Class A1, 1.590%, 12/16/19 (e)		148
	100	Series 2015-2A, Class D, 4.220%, 12/15/21 (e)		98
		FirstKey Lending Trust,
	292	Series 2015-SFR1, Class A, 2.553%, 03/09/47 (e)		291
	144	Series 2015-SFR1, Class B, 3.417%, 03/09/47 (e)		144
		Flagship Credit Auto Trust,
	25	Series 2013-2, Class A, 1.940%, 01/15/19 (e)		25
	119	Series 2014-2, Class A, 1.430%, 12/16/19 (e)		118
	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
	157	Series 2015-1, Class A, 1.630%, 06/15/20 (e)		156
	534	Series 2015-3, Class A, 2.380%, 10/15/20 (e)		537
	114	Series 2015-3, Class B, 3.680%, 03/15/22 (e)		117

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 69

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	113	Series 2015-3, Class C, 4.650%, 03/15/22 (e)		116
	400	Series 2016-1, Class C, 6.220%, 06/15/22 (e)		425
		Ford Credit Auto Lease Trust,
	11	Series 2014-B, Class A3, 0.890%, 09/15/17		11
	33	Series 2014-B, Class A4, 1.100%, 11/15/17		33
		Ford Credit Auto Owner Trust,
	26	Series 2015-A, Class A2A, 0.810%, 01/15/18		25
	471	Series 2015-A, Class A3, 1.280%, 09/15/19		472
	235	Series 2015-B, Class A2A, 0.720%, 03/15/18		235
	554	GCAT, Series 2015-2, Class A1, SUB, 3.750%, 07/25/20 (e)		551
	44	GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class M, VAR, 6.705%, 04/25/29		37
		GLS Auto Receivables Trust,
	224	Series 2015-1A, Class A, 2.250%, 12/15/20 (e)		224
	607	Series 2016-1A, Class A, 2.730%, 10/15/20 (e)		610
		GM Financial Automobile Leasing Trust,
	534	Series 2015-1, Class A2, 1.100%, 12/20/17		534
	428	Series 2015-1, Class A3, 1.530%, 09/20/18		430
	134	Series 2015-1, Class A4, 1.730%, 06/20/19		134
	99	Series 2016-2, Class A3, 1.620%, 09/20/19		99
	113	GMAT Trust, Series 2013-1A, Class A, SUB, 3.967%, 11/25/43 (e)		113
		GO Financial Auto Securitization Trust,
	85	Series 2015-1, Class A, 1.810%, 03/15/18 (e)		85
	249	Series 2015-1, Class B, 3.590%, 10/15/20 (e)		248
	210	Series 2015-2, Class A, 3.270%, 11/15/18 (e)		211
	267	Series 2015-2, Class B, 4.800%, 08/17/20 (e)		271
	119	Gold Key Resorts LLC, Series 2014-A, Class A, 3.220%, 03/17/31 (e)		120
	531	Green Tree Agency Advance Funding Trust I, Series 2015-T1, Class DT1, 4.669%, 10/15/48 (e)		534
		Honda Auto Receivables Owner Trust,
	48	Series 2013-4, Class A3, 0.690%, 09/18/17		48
	140	Series 2013-4, Class A4, 1.040%, 02/18/20		140
	88	Series 2014-2, Class A3, 0.770%, 03/19/18		87
	8	Series 2015-1, Class A2, 0.700%, 06/15/17		8
	207	Series 2016-1, Class A3, 1.220%, 12/18/19		207

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	17	HSBC Home Equity Loan Trust USA, Series 2007-3, Class APT, VAR, 1.712%, 11/20/36		17
		Hyundai Auto Receivables Trust,
	147	Series 2014-B, Class A3, 0.900%, 12/17/18		147
	94	Series 2015-B, Class A2A, 0.690%, 04/16/18		94
	233	Series 2015-B, Class A3, 1.120%, 11/15/19		233
	586	Invitation Homes Trust, Series 2014-SFR1, Class A, VAR, 1.507%, 06/17/31 (e)		583
	342	Lendmark Funding Trust, Series 2016-A, Class A, 4.820%, 08/21/23 (e)		339
	811	LV Tower 52 Issuer LLC, Series 2013-1, Class A, 5.500%, 07/15/19 (e)		791
		MarketPlace Loan Trust,
	39	Series 2015-OD3, Class A, 3.250%, 09/17/17 (e)		38
	95	Series 2015-OD4, Class A, 3.250%, 12/18/17 (e)		95
	222	Mercedes-Benz Auto Receivables Trust, Series 2015-1, Class A2A, 0.820%, 06/15/18		222
		Nationstar HECM Loan Trust,
	171	Series 2015-2A, Class A, 2.883%, 11/25/25 (e)		171
	296	Series 2015-2A, Class M1, 4.115%, 11/25/25 (e)		296
	280	Series 2016-1A, Class M1, 4.360%, 02/25/26 (e)		280
	105	Nissan Auto Receivables Owner Trust, Series 2014-B, Class A3, 1.110%, 05/15/19		105
		NRPL Trust,
	292	Series 2015-1A, Class A1, SUB, 3.875%, 11/01/54 (e)		291
	568	Series 2015-2A, Class A1, SUB, 3.750%, 10/25/57 (e)		555
	200	Series 2015-2A, Class A2, SUB, 3.750%, 10/25/57 (e)		189
		NRZ Advance Receivables Trust Advance Receivables Backed Notes,
	201	Series 2015-T2, Class DT2, 4.679%, 08/17/48 (e)		200
	900	Series 2015-T4, Class AT4, 3.196%, 11/15/47 (e)		898
	300	Series 2015-T4, Class DT4, 4.671%, 11/15/47 (e)		300
	358	Oak Hill Advisors Residential Loan Trust, Series 2015-NPL2, Class A1, SUB, 3.721%, 07/25/55 (e)		355
		Ocwen Master Advance Receivables Trust,
	661	Series 2015-T3, Class AT3, 3.211%, 11/15/47 (e)		661

SEE NOTES TO FINANCIAL STATEMENTS.

70 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	295	Series 2015-T3, Class BT3, 3.704%, 11/15/47 (e)		295
		OneMain Financial Issuance Trust,
	813	Series 2014-2A, Class A, 2.470%, 09/18/24 (e)		815
	403	Series 2015-1A, Class A, 3.190%, 03/18/26 (e)		407
	875	Series 2015-2A, Class A, 2.570%, 07/18/25 (e)		876
	233	Series 2015-2A, Class B, 3.100%, 07/18/25 (e)		228
	484	Oportun Funding II LLC, Series 2016-A, Class A, 4.700%, 03/08/21 (e)		484
	476	Oportun Funding III LLC, Series 2016-B, Class A, 3.690%, 07/08/21 (e)		475
	411	Pretium Mortgage Credit Partners I LLC, Series 2015-NPL2, Class A1, SUB, 3.750%, 07/27/30 (e)		411
	500	Progreso Receivables Funding III LLC, Series 2015-A, Class A, 3.625%, 02/08/20 (e)		500
	321	Progreso Receivables Funding IV LLC, Series 2015-B, Class A, 3.000%, 07/28/20 (e)		320
		Progress Residential Trust,
	864	Series 2015-SFR2, Class A, 2.740%, 06/12/32 (e)		875
	351	Series 2015-SFR2, Class B, 3.138%, 06/12/32 (e)		355
	787	Series 2015-SFR3, Class A, 3.067%, 11/12/32 (e)		808
	200	Series 2015-SFR3, Class D, 4.673%, 11/12/32 (e)		209
	850	Purchasing Power Funding LLC, Series 2015-A, Class A2, 4.750%, 12/15/19 (e)		852
	36	RAMP Trust, Series 2006-RZ1, Class A3, VAR, 0.824%, 03/25/36		35
	203	RMAT LLC, Series 2015-NPL1, Class A1, SUB, 3.750%, 05/25/55 (e)		201
		Santander Drive Auto Receivables Trust,
	103	Series 2015-S1, Class R1, 1.930%, 09/17/19 (e)		103
	8	Series 2015-S2, Class R1, 1.840%, 11/18/19 (e)		8
	75	Series 2015-S7, Class R1, 1.970%, 03/16/21 (e)		74
	36	Securitized Asset-Backed Receivables LLC Trust, Series 2006-CB1, Class AF2, SUB, 3.392%, 01/25/36		27

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	41	Selene Non-Performing Loans LLC, Series 2014-1A, Class A, SUB, 2.981%, 05/25/54 (e)		40
	72	Skopos Auto Receivables Trust, Series 2015-2A, Class A, 3.550%, 02/15/20 (e)		72
		SpringCastle America Funding LLC,
	503	Series 2014-AA, Class A, 2.700%, 05/25/23 (e)		503
	175	Series 2014-AA, Class B, 4.610%, 10/25/27 (e)		175
		Springleaf Funding Trust,
	481	Series 2014-AA, Class A, 2.410%, 12/15/22 (e)		482
	461	Series 2015-AA, Class A, 3.160%, 11/15/24 (e)		465
		SPS Servicer Advance Receivables Trust Advance Receivables Backed Notes,
	258	Series 2015-T2, Class DT2, 4.230%, 01/15/47 (e)		258
	285	Series 2015-T3, Class DT3, 4.430%, 07/15/47 (e)		285
	227	Sunset Mortgage Loan Co. LLC, Series 2014-NPL2, Class A, SUB, 3.721%, 11/16/44 (e)		226
		Toyota Auto Receivables Owner Trust,
	94	Series 2014-C, Class A3, 0.930%, 07/16/18		94
	375	Series 2016-A, Class A3, 1.250%, 03/16/20		375
	266	Trafigura Securitisation Finance plc, (Ireland), Series 2014-1A, Class A, VAR, 1.458%, 10/15/18 (e)		262
	127	Tricon American Homes Trust, Series 2015-SFR1, Class A, VAR, 1.757%, 05/17/32 (e)		126
	61	VML LLC, Series 2014-NPL1, Class A1, VAR, 3.875%, 04/27/54 (e)		61
	72	Volkswagen Auto Lease Trust, Series 2015-A, Class A2A, 0.870%, 06/20/17		72
	83	VOLT NPL X LLC, Series 2014-NPL8, Class A1, SUB, 3.375%, 10/26/54 (e)		83
	274	VOLT XL LLC, Series 2015-NP14, Class A1, SUB, 4.375%, 11/27/45 (e)		276
	94	VOLT XLV LLC, Series 2016-NPL5, Class A1, SUB, 4.000%, 05/25/46 (e)		95
	742	VOLT XXV LLC, Series 2015-NPL8, Class A1, SUB, 3.500%, 06/26/45 (e)		741
		VOLT XXVI LLC,
	272	Series 2014-NPL6, Class A1, SUB, 3.125%, 09/25/43 (e)		272
	115	Series 2014-NPL6, Class A2, SUB, 4.250%, 09/25/43 (e)		111

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 71

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Asset-Backed Securities — continued
	312		VOLT XXVII LLC, Series 2014-NPL7, Class A1, SUB, 3.375%, 08/27/57 (e)		312
	225		VOLT XXXIX LLC, Series 2015-NP13, Class A1, SUB, 4.125%, 10/25/45 (e)		227
	266		VOLT XXXV LLC, Series 2015-NPL9, Class A1, SUB, 3.500%, 06/26/45 (e)		266
			Westlake Automobile Receivables Trust,
	200		Series 2015-3A, Class D, 4.400%, 05/17/21 (e)		201
	420		Series 2016-1A, Class A2A, 1.820%, 01/15/19 (e)		420
			World Omni Auto Receivables Trust,
	98		Series 2013-B, Class A3, 0.830%, 08/15/18		98
	127		Series 2013-B, Class A4, 1.320%, 01/15/20		127
	35		Series 2015-A, Class A2A, 0.790%, 07/16/18		35
	77		Series 2015-A, Class A3, 1.340%, 05/15/20		77
			Total Asset-Backed Securities (Cost $47,202)		47,299
	Collateralized Mortgage Obligations — 22.5%
			Agency CMO — 20.0%
	30		Federal Home Loan Mortgage Corp. — Government National Mortgage Association, Series 24, Class ZE, 6.250%, 11/25/23		33
			Federal Home Loan Mortgage Corp. REMIC,
	—	(h)	Series 46, Class B, 7.800%, 09/15/20		—	(h)
	—	(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
	5		Series 114, Class H, 6.950%, 01/15/21		5
	—	(h)	Series 1079, Class S, HB, IF, 32.274%, 05/15/21		—	(h)
	—	(h)	Series 1084, Class F, VAR, 1.458%, 05/15/21		—	(h)
	—	(h)	Series 1084, Class S, HB, IF, 42.941%, 05/15/21		—	(h)
	4		Series 1144, Class KB, 8.500%, 09/15/21		5
	—	(h)	Series 1172, Class L, HB, VAR, 1,181.250%, 11/15/21		—	(h)
	—	(h)	Series 1196, Class B, HB, IF, 1,137.063%, 01/15/22		—	(h)
	3		Series 1206, Class IA, 7.000%, 03/15/22		3
	2		Series 1250, Class J, 7.000%, 05/15/22		2
	9		Series 1343, Class LA, 8.000%, 08/15/22		10
	39		Series 1466, Class PZ, 7.500%, 02/15/23		43
	—	(h)	Series 1470, Class F, VAR, 1.690%, 02/15/23		1
	15		Series 1491, Class I, 7.500%, 04/15/23		16
	14		Series 1518, Class G, IF, 8.591%, 05/15/23		16

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — continued
	12		Series 1541, Class O, VAR, 0.840%, 07/15/23		12
	3		Series 1602, Class SA, HB, IF, 21.100%, 10/15/23		4
	44		Series 1608, Class L, 6.500%, 09/15/23		51
	4		Series 1671, Class L, 7.000%, 02/15/24		5
	7		Series 1700, Class GA, PO, 02/15/24		7
	73		Series 1706, Class K, 7.000%, 03/15/24		81
	259		Series 1720, Class PL, 7.500%, 04/15/24		290
	9		Series 1745, Class D, 7.500%, 08/15/24		10
	15		Series 1798, Class F, 5.000%, 05/15/23		16
	1		Series 1807, Class G, 9.000%, 10/15/20		1
	83		Series 1927, Class PH, 7.500%, 01/15/27		95
	36		Series 1981, Class Z, 6.000%, 05/15/27		39
	11		Series 1987, Class PE, 7.500%, 09/15/27		12
	5		Series 2033, Class SN, HB, IF, 28.332%, 03/15/24		2
	14		Series 2038, Class PN, IO, 7.000%, 03/15/28		3
	74		Series 2040, Class PE, 7.500%, 03/15/28		84
	5		Series 2056, Class TD, 6.500%, 05/15/18		5
	77		Series 2063, Class PG, 6.500%, 06/15/28		89
	10		Series 2064, Class TE, 7.000%, 06/15/28		11
	55		Series 2075, Class PH, 6.500%, 08/15/28		61
	54		Series 2075, Class PM, 6.250%, 08/15/28		60
	17		Series 2089, Class PJ, IO, 7.000%, 10/15/28		2
	32		Series 2125, Class JZ, 6.000%, 02/15/29		36
	8		Series 2163, Class PC, IO, 7.500%, 06/15/29		1
	155		Series 2169, Class TB, 7.000%, 06/15/29		177
	55		Series 2172, Class QC, 7.000%, 07/15/29		62
	—	(h)	Series 2196, Class TL, 7.500%, 11/15/29		1
	26		Series 2201, Class C, 8.000%, 11/15/29		30
	70		Series 2210, Class Z, 8.000%, 01/15/30		81
	17		Series 2224, Class CB, 8.000%, 03/15/30		21
	35		Series 2256, Class MC, 7.250%, 09/15/30		41
	38		Series 2259, Class ZM, 7.000%, 10/15/30		43
	38		Series 2271, Class PC, 7.250%, 12/15/30		43
	26		Series 2283, Class K, 6.500%, 12/15/23		29
	17		Series 2296, Class PD, 7.000%, 03/15/31		20
	8		Series 2306, Class K, PO, 05/15/24		8
	20		Series 2306, Class SE, IF, IO, 9.020%, 05/15/24		4
	28		Series 2333, Class HC, 6.000%, 07/15/31		27
	334		Series 2344, Class ZD, 6.500%, 08/15/31		396
	40		Series 2344, Class ZJ, 6.500%, 08/15/31		46
	31		Series 2345, Class NE, 6.500%, 08/15/31		36

SEE NOTES TO FINANCIAL STATEMENTS.

72 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	13		Series 2347, Class VP, 6.500%, 03/15/20		13
	34		Series 2351, Class PZ, 6.500%, 08/15/31		39
	—	(h)	Series 2360, Class PG, 6.000%, 09/15/16		—	(h)
	—	(h)	Series 2366, Class MD, 6.000%, 10/15/16		—	(h)
	—	(h)	Series 2391, Class QR, 5.500%, 12/15/16		—	(h)
	28		Series 2410, Class NG, 6.500%, 02/15/32		32
	43		Series 2410, Class OE, 6.375%, 02/15/32		47
	19		Series 2410, Class QX, IF, IO, 8.142%, 02/15/32		6
	71		Series 2412, Class SP, IF, 15.085%, 02/15/32		96
	21		Series 2423, Class MC, 7.000%, 03/15/32		25
	45		Series 2423, Class MT, 7.000%, 03/15/32		52
	156		Series 2435, Class CJ, 6.500%, 04/15/32		180
	46		Series 2441, Class GF, 6.500%, 04/15/32		55
	46		Series 2444, Class ES, IF, IO, 7.442%, 03/15/32		13
	58		Series 2450, Class GZ, 7.000%, 05/15/32		66
	18		Series 2450, Class SW, IF, IO, 7.492%, 03/15/32		5
	70		Series 2455, Class GK, 6.500%, 05/15/32		81
	95		Series 2466, Class DH, 6.500%, 06/15/32		110
	59		Series 2474, Class NR, 6.500%, 07/15/32		67
	93		Series 2484, Class LZ, 6.500%, 07/15/32		109
	93		Series 2500, Class MC, 6.000%, 09/15/32		106
	150		Series 2512, Class PG, 5.500%, 10/15/22		164
	26		Series 2535, Class BK, 5.500%, 12/15/22		29
	16		Series 2537, Class TE, 5.500%, 12/15/17		16
	172		Series 2543, Class YX, 6.000%, 12/15/32		194
	221		Series 2568, Class KG, 5.500%, 02/15/23		243
	316		Series 2575, Class ME, 6.000%, 02/15/33		348
	27		Series 2586, Class WI, IO, 6.500%, 03/15/33		5
	22		Series 2622, Class PE, 4.500%, 05/15/18		23
	13		Series 2631, Class LC, 4.500%, 06/15/18		14
	21		Series 2651, Class VZ, 4.500%, 07/15/18		22
	23		Series 2744, Class TU, 5.500%, 05/15/32		23
	47		Series 2934, Class EC, PO, 02/15/20		46
	76		Series 2990, Class SL, HB, IF, 22.632%, 06/15/34		105
	900		Series 2990, Class UZ, 5.750%, 06/15/35		1,033
	132		Series 2999, Class ND, 4.500%, 07/15/20		136
	5		Series 3068, Class AO, PO, 01/15/35		5
	96		Series 3117, Class EO, PO, 02/15/36		88
	10		Series 3117, Class OK, PO, 02/15/36		9
	138		Series 3122, Class OH, PO, 03/15/36		130

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	155	Series 3137, Class XP, 6.000%, 04/15/36		180
	6	Series 3149, Class SO, PO, 05/15/36		6
	222	Series 3152, Class MO, PO, 03/15/36		212
	86	Series 3171, Class MO, PO, 06/15/36		82
	37	Series 3179, Class OA, PO, 07/15/36		34
	316	Series 3202, Class HI, IF, IO, 6.142%, 08/15/36		61
	48	Series 3232, Class ST, IF, IO, 6.192%, 10/15/36		9
	26	Series 3253, Class PO, PO, 12/15/21		25
	24	Series 3316, Class JO, PO, 05/15/37		23
	630	Series 3417, Class EO, PO, 11/15/36		611
	173	Series 3481, Class SJ, IF, IO, 5.342%, 08/15/38		21
	68	Series 3607, Class AO, PO, 04/15/36		65
	253	Series 3607, Class OP, PO, 07/15/37		231
	43	Series 3611, Class PO, PO, 07/15/34		42
	439	Series 3680, Class MA, 4.500%, 07/15/39		474
	109	Series 3804, Class FN, VAR, 0.958%, 03/15/39		109
	421	Series 3819, Class ZQ, 6.000%, 04/15/36		480
	166	Series 3997, Class PF, VAR, 0.958%, 11/15/39		166
	737	Series 4219, Class JA, 3.500%, 08/15/39		775
	1,084	Series 4374, Class NC, SUB, 2.750%, 02/15/46		1,122
		Federal Home Loan Mortgage Corp. STRIPS,
	17	Series 243, Class 16, IO, 4.500%, 11/15/20		1
	740	Series 262, Class 35, 3.500%, 07/15/42		787
		Federal Home Loan Mortgage Corp. Structured Pass-Through Securities,
	33	Series T-41, Class 3A, VAR, 5.853%, 07/25/32		35
	28	Series T-51, Class 2A, VAR, 7.500%, 08/25/42		34
	284	Series T-54, Class 2A, 6.500%, 02/25/43		343
	96	Series T-54, Class 3A, 7.000%, 02/25/43		116
	733	Series T-56, Class A5, 5.231%, 05/25/43		820
	23	Series T-58, Class APO, PO, 09/25/43		20
	195	Series T-76, Class 2A, VAR, 1.665%, 10/25/37		205
		Federal National Mortgage Association — ACES,
	458	Series 2010-M3, Class A3, VAR, 4.332%, 03/25/20		493
	1,000	Series 2012-M9, Class A2, 2.482%, 04/25/22		1,040

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 73

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	158		Series 2012-M11, Class FA, VAR, 0.980%, 08/25/19		158
	444		Series 2014-M2, Class A2, VAR, 3.513%, 12/25/23		488
	2,000		Series 2014-M3, Class A2, VAR, 3.501%, 01/25/24		2,174
	1,000		Series 2014-M12, Class ASV2, VAR, 2.614%, 10/25/21		1,044
	636		Series 2014-M13, Class A2, VAR, 3.021%, 08/25/24		680
	1,000		Series 2015-M3, Class A2, 2.723%, 10/25/24		1,046
	820		Series 2015-M7, Class A2, 2.590%, 12/25/24		850
	942		Series 2015-M17, Class FA, VAR, 1.378%, 11/25/22		945
			Federal National Mortgage Association REMIC,
	—	(h)	Series 1988-7, Class Z, 9.250%, 04/25/18		—	(h)
	2		Series 1989-70, Class G, 8.000%, 10/25/19		3
	1		Series 1989-78, Class H, 9.400%, 11/25/19		1
	1		Series 1989-83, Class H, 8.500%, 11/25/19		1
	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
	—	(h)	Series 1990-60, Class K, 5.500%, 06/25/20		1
	1		Series 1990-63, Class H, 9.500%, 06/25/20		1
	—	(h)	Series 1990-93, Class G, 5.500%, 08/25/20		—	(h)
	—	(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)
	4		Series 1990-102, Class J, 6.500%, 08/25/20		5
	1		Series 1990-120, Class H, 9.000%, 10/25/20		1
	—	(h)	Series 1990-134, Class SC, HB, IF, 20.813%, 11/25/20		—	(h)
	—	(h)	Series 1990-140, Class K, HB, 652.145%, 12/25/20		—	(h)
	1		Series 1991-42, Class S, IF, 16.757%, 05/25/21		1
	22		Series 1992-107, Class SB, HB, IF, 28.520%, 06/25/22		34
	1		Series 1992-143, Class MA, 5.500%, 09/25/22		1
	13		Series 1993-25, Class J, 7.500%, 03/25/23		14
	80		Series 1993-37, Class PX, 7.000%, 03/25/23		88
	29		Series 1993-54, Class Z, 7.000%, 04/25/23		32

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
			Agency CMO — continued
	6		Series 1993-62, Class SA, IF, 18.923%, 04/25/23		8
	8		Series 1993-122, Class M, 6.500%, 07/25/23		8
	3		Series 1993-165, Class SD, IF, 13.393%, 09/25/23		4
	13		Series 1993-178, Class PK, 6.500%, 09/25/23		14
	200		Series 1993-183, Class KA, 6.500%, 10/25/23		229
	88		Series 1993-189, Class PL, 6.500%, 10/25/23		97
	20		Series 1993-247, Class SA, HB, IF, 27.956%, 12/25/23		32
	1		Series 1994-9, Class E, PO, 11/25/23		1
	54		Series 1996-14, Class SE, IF, IO, 9.170%, 08/25/23		12
	—	(h)	Series 1996-27, Class FC, VAR, 1.024%, 03/25/17		—	(h)
	6		Series 1996-59, Class J, 6.500%, 08/25/22		6
	24		Series 1997-20, Class IB, IO, VAR, 1.840%, 03/25/27		1
	23		Series 1997-20, Class IO, IO, VAR, 1.840%, 03/25/27		1
	15		Series 1997-27, Class J, 7.500%, 04/18/27		17
	19		Series 1997-29, Class J, 7.500%, 04/20/27		22
	43		Series 1997-39, Class PD, 7.500%, 05/20/27		50
	11		Series 1997-81, Class PI, IO, 7.000%, 12/18/27		1
	2		Series 1998-4, Class C, PO, 04/25/23		1
	10		Series 1998-36, Class ZB, 6.000%, 07/18/28		12
	124		Series 1998-43, Class EA, PO, 04/25/23		120
	82		Series 2000-2, Class ZE, 7.500%, 02/25/30		94
	21		Series 2001-4, Class PC, 7.000%, 03/25/21		22
	53		Series 2001-33, Class ID, IO, 6.000%, 07/25/31		10
	64		Series 2001-36, Class DE, 7.000%, 08/25/31		75
	13		Series 2001-44, Class PD, 7.000%, 09/25/31		15
	79		Series 2001-48, Class Z, 6.500%, 09/25/21		87
	11		Series 2001-49, Class Z, 6.500%, 09/25/31		13
	1		Series 2001-71, Class MB, 6.000%, 12/25/16		1
	—	(h)	Series 2001-71, Class QE, 6.000%, 12/25/16		—	(h)
	5		Series 2001-74, Class MB, 6.000%, 12/25/16		5
	10		Series 2001-81, Class LO, PO, 01/25/32		9
	27		Series 2002-1, Class HC, 6.500%, 02/25/22		30

SEE NOTES TO FINANCIAL STATEMENTS.

74 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	12		Series 2002-1, Class SA, HB, IF, 23.483%, 02/25/32		20
	1		Series 2002-2, Class UC, 6.000%, 02/25/17		1
	—	(h)	Series 2002-3, Class OG, 6.000%, 02/25/17		—	(h)
	38		Series 2002-21, Class PE, 6.500%, 04/25/32		43
	8		Series 2002-24, Class AJ, 6.000%, 04/25/17		8
	39		Series 2002-28, Class PK, 6.500%, 05/25/32		43
	43		Series 2002-37, Class Z, 6.500%, 06/25/32		50
	8		Series 2002-94, Class BK, 5.500%, 01/25/18		8
	164		Series 2003-22, Class UD, 4.000%, 04/25/33		176
	162		Series 2003-34, Class GB, 6.000%, 03/25/33		171
	304		Series 2003-34, Class GE, 6.000%, 05/25/33		358
	9		Series 2003-39, Class IO, IO, VAR, 6.000%, 05/25/33		2
	154		Series 2003-47, Class PE, 5.750%, 06/25/33		176
	18		Series 2003-52, Class SX, HB, IF, 21.377%, 10/25/31		26
	20		Series 2003-64, Class SX, IF, 12.515%, 07/25/33		26
	103		Series 2003-71, Class DS, IF, 6.808%, 08/25/33		116
	19		Series 2003-80, Class SY, IF, IO, 7.126%, 06/25/23		1
	43		Series 2003-83, Class PG, 5.000%, 06/25/23		45
	14		Series 2003-91, Class SD, IF, 11.626%, 09/25/33		17
	135		Series 2003-116, Class SB, IF, IO, 7.076%, 11/25/33		30
	12		Series 2003-130, Class SX, IF, 10.733%, 01/25/34		14
	86		Series 2004-25, Class PC, 5.500%, 01/25/34		89
	84		Series 2004-25, Class SA, IF, 18.083%, 04/25/34		125
	58		Series 2004-36, Class PC, 5.500%, 02/25/34		60
	93		Series 2004-36, Class SA, IF, 18.083%, 05/25/34		143
	57		Series 2004-46, Class SK, IF, 15.058%, 05/25/34		75
	611		Series 2004-50, Class VZ, 5.500%, 07/25/34		681
	50		Series 2004-61, Class SH, HB, IF, 21.891%, 11/25/32		75
	43		Series 2004-74, Class SW, IF, 14.485%, 11/25/31		61
	28		Series 2004-76, Class CL, 4.000%, 10/25/19		28
	90		Series 2005-45, Class DC, HB, IF, 22.387%, 06/25/35		143

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	9	Series 2005-52, Class PA, 6.500%, 06/25/35		10
	67	Series 2005-56, Class S, IF, IO, 6.186%, 07/25/35		13
	121	Series 2005-56, Class TP, IF, 16.577%, 08/25/33		163
	401	Series 2005-68, Class PG, 5.500%, 08/25/35		454
	175	Series 2005-73, Class PS, IF, 15.389%, 08/25/35		246
	72	Series 2005-74, Class CS, IF, 18.578%, 05/25/35		102
	137	Series 2005-106, Class US, HB, IF, 22.644%, 11/25/35		211
	461	Series 2005-121, Class DX, 5.500%, 01/25/26		504
	133	Series 2006-27, Class OH, PO, 04/25/36		125
	47	Series 2006-44, Class P, PO, 12/25/33		45
	299	Series 2006-56, Class FC, VAR, 0.814%, 07/25/36		298
	39	Series 2006-59, Class QO, PO, 01/25/33		38
	47	Series 2006-65, Class QO, PO, 07/25/36		43
	69	Series 2006-72, Class GO, PO, 08/25/36		66
	140	Series 2006-77, Class PC, 6.500%, 08/25/36		162
	56	Series 2006-79, Class DO, PO, 08/25/36		53
	92	Series 2006-110, Class PO, PO, 11/25/36		88
	135	Series 2006-124, Class HB, VAR, 5.358%, 11/25/36		143
	73	Series 2007-14, Class ES, IF, IO, 5.916%, 03/25/37		13
	58	Series 2007-79, Class SB, HB, IF, 22.094%, 08/25/37		89
	353	Series 2007-81, Class GE, 6.000%, 08/25/37		387
	156	Series 2007-88, Class VI, IF, IO, 6.016%, 09/25/37		32
	431	Series 2007-91, Class ES, IF, IO, 5.936%, 10/25/37		64
	79	Series 2007-106, Class A7, VAR, 6.150%, 10/25/37		88
	125	Series 2007-116, Class HI, IO, VAR, 1.641%, 01/25/38		9
	35	Series 2008-10, Class XI, IF, IO, 5.706%, 03/25/38		5
	27	Series 2008-16, Class IS, IF, IO, 5.676%, 03/25/38		4
	53	Series 2008-28, Class QS, HB, IF, 19.127%, 04/25/38		77
	118	Series 2008-46, Class HI, IO, VAR, 1.891%, 06/25/38		8
	82	Series 2009-69, Class PO, PO, 09/25/39		78

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 75

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
			Agency CMO — continued
	758		Series 2009-71, Class BC, 4.500%, 09/25/24		836
	209		Series 2009-103, Class MB, VAR, 2.800%, 12/25/39		220
	1,000		Series 2010-47, Class MB, 5.000%, 09/25/39		1,124
	272		Series 2010-71, Class HJ, 5.500%, 07/25/40		305
	1,000		Series 2011-44, Class EB, 3.000%, 05/25/26		1,056
	372		Series 2011-118, Class MT, 7.000%, 11/25/41		442
	339		Series 2011-118, Class NT, 7.000%, 11/25/41		401
	219		Series 2012-47, Class HF, VAR, 0.924%, 05/25/27		219
	409		Series 2013-101, Class DO, PO, 10/25/43		353
	399		Series 2013-128, Class PO, PO, 12/25/43		342
	1		Series G-14, Class L, 8.500%, 06/25/21		1
	5		Series G-18, Class Z, 8.750%, 06/25/21		6
	—	(h)	Series G-22, Class G, 6.000%, 12/25/16		—	(h)
	5		Series G-35, Class M, 8.750%, 10/25/21		5
	21		Series G92-35, Class E, 7.500%, 07/25/22		23
	1		Series G92-42, Class Z, 7.000%, 07/25/22		1
	3		Series G92-44, Class ZQ, 8.000%, 07/25/22		3
	17		Series G92-54, Class ZQ, 7.500%, 09/25/22		19
	5		Series G93-5, Class Z, 6.500%, 02/25/23		6
	9		Series G95-1, Class C, 8.800%, 01/25/25		10
			Federal National Mortgage Association REMIC Trust,
	119		Series 2003-W1, Class 1A1, VAR, 5.632%, 12/25/42		135
	25		Series 2003-W4, Class 2A, VAR, 6.264%, 10/25/42		28
	19		Series 2007-W7, Class 1A4, HB, IF, 36.034%, 07/25/37		29
			Federal National Mortgage Association STRIPS,
	—	(h)	Series 50, Class 2, IO, 10.500%, 03/25/19		—	(h)
	1		Series 218, Class 2, IO, 7.500%, 04/25/23		—	(h)
	50		Series 300, Class 1, PO, 09/25/24		45
	9		Series 329, Class 1, PO, 01/25/33		8
			Federal National Mortgage Association Trust,
	54		Series 2004-W2, Class 2A2, 7.000%, 02/25/44		63
	175		Series 2005-W3, Class 2AF, VAR, 0.744%, 03/25/45		170
			Government National Mortgage Association,
	121		Series 1994-7, Class PQ, 6.500%, 10/16/24		136
	15		Series 1999-30, Class S, IF, IO, 8.093%, 08/16/29		4

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	9	Series 2000-9, Class Z, 8.000%, 06/20/30		11
	174	Series 2000-9, Class ZJ, 8.500%, 02/16/30		206
	24	Series 2002-31, Class S, IF, IO, 8.193%, 01/16/31		6
	73	Series 2002-40, Class UK, 6.500%, 06/20/32		86
	68	Series 2002-47, Class PG, 6.500%, 07/16/32		80
	83	Series 2002-47, Class PY, 6.000%, 07/20/32		94
	84	Series 2002-47, Class ZA, 6.500%, 07/20/32		100
	14	Series 2003-24, Class PO, PO, 03/16/33		13
	304	Series 2003-40, Class TJ, 6.500%, 03/20/33		349
	74	Series 2003-52, Class AP, PO, 06/16/33		65
	20	Series 2004-28, Class S, IF, 18.269%, 04/16/34		30
	42	Series 2004-71, Class SB, HB, IF, 26.948%, 09/20/34		72
	28	Series 2004-73, Class AE, IF, 13.810%, 08/17/34		35
	228	Series 2004-90, Class SI, IF, IO, 5.588%, 10/20/34		35
	63	Series 2005-68, Class DP, IF, 15.213%, 06/17/35		90
	437	Series 2005-68, Class KI, IF, IO, 5.788%, 09/20/35		76
	704	Series 2006-38, Class ZK, 6.500%, 08/20/36		827
	49	Series 2006-59, Class SD, IF, IO, 6.188%, 10/20/36		8
	183	Series 2007-17, Class JI, IF, IO, 6.303%, 04/16/37		37
	209	Series 2007-27, Class SA, IF, IO, 5.688%, 05/20/37		41
	318	Series 2007-40, Class SB, IF, IO, 6.238%, 07/20/37		57
	192	Series 2007-45, Class QA, IF, IO, 6.128%, 07/20/37		39
	175	Series 2007-50, Class AI, IF, IO, 6.263%, 08/20/37		25
	47	Series 2007-53, Class ES, IF, IO, 6.038%, 09/20/37		9
	44	Series 2007-53, Class SW, IF, 18.668%, 09/20/37		62
	30	Series 2007-71, Class SB, IF, IO, 6.188%, 07/20/36		1
	99	Series 2007-72, Class US, IF, IO, 6.038%, 11/20/37		17
	99	Series 2007-76, Class SA, IF, IO, 6.018%, 11/20/37		18
	64	Series 2008-33, Class XS, IF, IO, 7.193%, 04/16/38		15

SEE NOTES TO FINANCIAL STATEMENTS.

76 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Agency CMO — continued
	184	Series 2008-40, Class SA, IF, IO, 5.893%, 05/16/38		36
	251	Series 2008-50, Class KB, 6.000%, 06/20/38		288
	128	Series 2008-55, Class SA, IF, IO, 5.688%, 06/20/38		23
	138	Series 2008-93, Class AS, IF, IO, 5.188%, 12/20/38		20
	39	Series 2009-6, Class SA, IF, IO, 5.593%, 02/16/39		6
	62	Series 2009-14, Class NI, IO, 6.500%, 03/20/39		13
	198	Series 2009-22, Class SA, IF, IO, 5.758%, 04/20/39		31
	174	Series 2009-31, Class TS, IF, IO, 5.788%, 03/20/39		19
	170	Series 2009-79, Class OK, PO, 11/16/37		162
	984	Series 2009-92, Class ZC, 5.000%, 10/20/39		1,150
	331	Series 2009-106, Class ST, IF, IO, 5.488%, 02/20/38		58
	76	Series 2010-14, Class AO, PO, 12/20/32		74
	1,000	Series 2010-105, Class B, 5.000%, 08/20/40		1,149
	111	Series 2010-130, Class CP, 7.000%, 10/16/40		131
	397	Series 2011-137, Class WA, VAR, 5.537%, 07/20/40		450
	1,427	Series 2011-H19, Class FA, VAR, 0.938%, 08/20/61		1,420
	370	Series 2012-H21, Class DF, VAR, 1.118%, 05/20/61		370
	167	Series 2012-H24, Class FA, VAR, 0.918%, 03/20/60		167
	372	Series 2012-H26, Class MA, VAR, 1.018%, 07/20/62		371
	709	Series 2012-H29, Class FA, VAR, 0.983%, 10/20/62		707
	665	Series 2013-91, Class WA, VAR, 4.498%, 04/20/43		714
	132	Series 2013-H03, Class FA, VAR, 0.768%, 08/20/60		132
	462	Series 2013-H07, Class JA, 1.750%, 03/20/63		464
	840	Series 2014-H15, Class FA, VAR, 0.968%, 07/20/64		836
	756	Series 2014-H17, Class FC, VAR, 0.968%, 07/20/64		752
	903	Series 2014-H19, Class FE, VAR, 0.938%, 09/20/64		897

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Agency CMO — continued
	2,625	Series 2015-H04, Class FL, VAR, 0.938%, 02/20/65		2,609
	2,833	Series 2015-H12, Class FA, VAR, 0.948%, 05/20/65		2,814
	736	Series 2015-H15, Class FJ, VAR, 0.908%, 06/20/65		729
	1,993	Series 2015-H16, Class FL, VAR, 0.908%, 07/20/65		1,974
	694	Series 2015-H18, Class FA, VAR, 0.918%, 06/20/65		689
	748	Series 2015-H20, Class FA, VAR, 0.938%, 08/20/65		742
	808	Series 2015-H26, Class FG, VAR, 0.988%, 10/20/65		804
	4,425	Series 2015-H29, Class FL, VAR, 1.068%, 11/20/65		4,425
	2,444	Series 2015-H30, Class FE, VAR, 1.068%, 11/20/65		2,444
	71	NCUA Guaranteed Notes Trust, Series 2010-R3, Class 3A, 2.400%, 12/08/20		71
		Vendee Mortgage Trust,
	341	Series 1993-1, Class ZB, 7.250%, 02/15/23		382
	173	Series 1994-1, Class 1, VAR, 5.512%, 02/15/24		189
	257	Series 1996-1, Class 1Z, 6.750%, 02/15/26		297
	83	Series 1996-2, Class 1Z, 6.750%, 06/15/26		96
	335	Series 1997-1, Class 2Z, 7.500%, 02/15/27		393
	83	Series 1998-1, Class 2E, 7.000%, 03/15/28		100
				67,222
		Non-Agency CMO — 2.5%
	432	Access PT Funding Trust, Series 2016-1, 6.250%, 02/16/21		432
		Ajax Mortgage Loan Trust,
	371	Series 2014-A, Class A, SUB, 4.000%, 10/25/57 (e)		370
	192	Series 2015-B, Class A, SUB, 3.875%, 07/25/60 (e)		189
		Alternative Loan Trust,
	1,409	Series 2004-2CB, Class 1A9, 5.750%, 03/25/34		1,400
	221	Series 2005-54CB, Class 1A11, 5.500%, 11/25/35		207
	199	Angel Oak Mortgage Trust LLC, Series 2015-1, Class A, SUB, 4.500%, 11/25/45 (e)		200
		ASG Resecuritization Trust,
	30	Series 2009-1, Class A60, VAR, 2.535%, 06/26/37 (e)		30

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 77

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	135	Series 2009-3, Class A65, VAR, 2.379%, 03/26/37 (e)		134
	26	Banc of America Alternative Loan Trust, Series 2003-11, Class PO, PO, 01/25/34		20
	24	Banc of America Funding Trust, Series 2004-1, Class PO, PO, 03/25/34		19
		Banc of America Mortgage Trust,
	3	Series 2004-1, Class APO, PO, 02/25/34		3
	6	Series 2004-3, Class 1A26, 5.500%, 04/25/34		6
		BCAP LLC Trust,
	227	Series 2010-RR7, Class 2A1, VAR, 2.623%, 07/26/45 (e)		226
	195	Series 2011-RR10, Class 2A1, VAR, 1.352%, 09/26/37 (e)		188
	71	Bear Stearns ARM Trust, Series 2005-5, Class A1, VAR, 2.580%, 08/25/35		72
		CHL Mortgage Pass-Through Trust,
	47	Series 2004-5, Class 1A4, 5.500%, 06/25/34		48
	22	Series 2004-HYB3, Class 2A, VAR, 2.761%, 06/20/34		21
	216	Series 2005-22, Class 2A1, VAR, 2.755%, 11/25/35		177
		Citigroup Global Markets Mortgage Securities VII, Inc.,
	39	Series 2003-HYB1, Class A, VAR, 2.740%, 09/25/33		39
	1	Series 2003-UP2, Class PO1, PO, 12/25/18		1
		Citigroup Mortgage Loan Trust,
	74	Series 2008-AR4, Class 1A1A, VAR, 2.993%, 11/25/38 (e)		73
	58	Series 2010-8, Class 5A6, 4.000%, 11/25/36 (e)		58
	44	Series 2010-8, Class 6A6, 4.500%, 12/25/36 (e)		44
		Citigroup Mortgage Loan Trust, Inc.,
	9	Series 2003-UP3, Class A3, 7.000%, 09/25/33		9
	12	Series 2003-UST1, Class A1, 5.500%, 12/25/18		12
	2	Series 2003-UST1, Class PO1, PO, 12/25/18		1
	1	Series 2003-UST1, Class PO3, PO, 12/25/18		1
	12	Credit Suisse First Boston Mortgage Securities Corp., Series 2003-23, Class 2A5, 5.000%, 10/25/18		12
		CSMC,
	337	Series 2010-11R, Class A6, VAR, 1.492%, 06/28/47 (e)		324

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — continued
	31	Series 2011-16R, Class 7A3, VAR, 3.500%, 12/27/36 (e)		31
	89	Deutsche Alt-A Securities, Inc., Mortgage Loan Trust, Series 2005-3, Class 1A1, VAR, 4.979%, 06/25/20		89
	4	Deutsche Mortgage Securities, Inc., Mortgage Loan Trust, Series 2004-1, Class 2APO, PO, 10/25/18		4
		First Horizon Mortgage Pass-Through Trust,
	88	Series 2004-AR7, Class 2A2, VAR, 2.709%, 02/25/35		88
	85	Series 2005-AR1, Class 2A2, VAR, 2.935%, 04/25/35		85
	170	GSR Mortgage Loan Trust, Series 2006-1F, Class 1A3, 5.500%, 02/25/36		161
	43	Impac Secured Assets CMN Owner Trust, Series 2002-2, Class APO, PO, 04/25/33		26
		JP Morgan Mortgage Trust,
	454	Series 2003-A1, Class 1A1, VAR, 2.583%, 10/25/33		442
	42	Series 2006-A2, Class 4A1, VAR, 3.185%, 08/25/34		42
	147	Series 2006-A2, Class 5A3, VAR, 2.783%, 11/25/33		149
		MASTR Adjustable Rate Mortgages Trust,
	35	Series 2004-3, Class 4A2, VAR, 2.690%, 04/25/34		33
	125	Series 2004-13, Class 2A1, VAR, 2.882%, 04/21/34		127
		MASTR Alternative Loan Trust,
	120	Series 2003-9, Class 8A1, 6.000%, 01/25/34		120
	251	Series 2004-4, Class 10A1, 5.000%, 05/25/24		261
	19	Series 2004-7, Class 30PO, PO, 08/25/34		15
	13	Series 2004-10, Class 1A1, 4.500%, 09/25/19		13
	65	Series 2005-6, Class 3A1, 5.500%, 11/25/20		63
		MASTR Asset Securitization Trust,
	13	Series 2003-2, Class 1A1, 5.000%, 03/25/18		13
	3	Series 2004-8, Class PO, PO, 08/25/19		3
	27	MASTR Resecuritization Trust, Series 2005-PO, Class 3PO, PO, 05/28/35 (e)		21
		Merrill Lynch Mortgage Investors Trust,
	224	Series 2003-E, Class A1, VAR, 1.144%, 10/25/28		213

SEE NOTES TO FINANCIAL STATEMENTS.

78 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Collateralized Mortgage Obligations — continued
		Non-Agency CMO — continued
	77	Series 2004-A, Class A1, VAR, 0.984%, 04/25/29		72
	34	MortgageIT Trust, Series 2005-1, Class 1A1, VAR, 1.164%, 02/25/35		33
	52	NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1, VAR, 6.500%, 10/25/34 (e)		53
		Nomura Asset Acceptance Corp. Alternative Loan Trust,
	29	Series 2003-A1, Class A1, 5.500%, 05/25/33		29
	20	Series 2003-A1, Class A2, 6.000%, 05/25/33		20
	7	Series 2003-A1, Class A5, 7.000%, 04/25/33		7
		RALI Trust,
	20	Series 2002-QS8, Class A5, 6.250%, 06/25/17		19
	6	Series 2002-QS16, Class A3, IF, 15.526%, 10/25/17		6
	10	Series 2003-QS3, Class A2, IF, 15.346%, 02/25/18		11
	44	Series 2003-QS9, Class A3, IF, IO, 7.026%, 05/25/18		1
	62	Series 2004-QS3, Class CB, 5.000%, 03/25/19		62
	90	Reperforming Loan REMIC Trust, Series 2005-R1, Class 2APO, PO, 03/25/35 (e)		74
	5	Residential Asset Securitization Trust, Series 2003-A14, Class A1, 4.750%, 02/25/19		5
		Springleaf Mortgage Loan Trust,
	40	Series 2013-1A, Class A, VAR, 1.270%, 06/25/58 (e)		40
	137	Series 2013-2A, Class A, VAR, 1.780%, 12/25/65 (e)		136
	125	Series 2013-2A, Class M1, VAR, 3.520%, 12/25/65 (e)		126
	124	Series 2013-3A, Class A, VAR, 1.870%, 09/25/57 (e)		124
	306	Series 2013-3A, Class M1, VAR, 3.790%, 09/25/57 (e)		306
	79	Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-33H, Class 1A1, 5.500%, 10/25/33		81
	33	Structured Asset Securities Corp. Trust, Series 2005-6, Class 4A1, 5.000%, 05/25/35		34
		WaMu Mortgage Pass-Through Certificates Trust,
	9	Series 2002-S8, Class 2A7, 5.250%, 01/25/18		9

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Non-Agency CMO — continued
	103	Series 2003-AR5, Class A7, VAR, 2.821%, 06/25/33		104
	50	Series 2004-AR3, Class A2, VAR, 2.783%, 06/25/34		50
	205	Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-4, Class CB7, 5.500%, 06/25/35		189
		Washington Mutual MSC Mortgage Pass-Through Certificates Trust,
	27	Series 2003-MS2, Class 1A1, 5.750%, 02/25/33		28
	4	Series 2003-MS7, Class P, PO, 03/25/33		4
		Wells Fargo Mortgage-Backed Securities Trust,
	37	Series 2003-K, Class 1A1, VAR, 2.638%, 11/25/33		36
	64	Series 2004-EE, Class 3A1, VAR, 3.028%, 12/25/34		66
	187	Series 2004-P, Class 2A1, VAR, 2.988%, 09/25/34		193
	304	Series 2005-AR3, Class 1A1, VAR, 3.041%, 03/25/35		311
				8,544
		Total Collateralized Mortgage Obligations (Cost $72,928)		75,766
	Commercial Mortgage-Backed Securities — 2.1%
	202	A10 Securitization LLC, Series 2015-1, Class A1, 2.100%, 04/15/34 (e)		200
		A10 Term Asset Financing LLC,
	218	Series 2013-2, Class A, 2.620%, 11/15/27 (e)		218
	123	Series 2014-1, Class A1, 1.720%, 04/15/33 (e)		122
	251	Banc of America Commercial Mortgage Trust, Series 2007-5, Class A4, 5.492%, 02/10/51		258
	22	Banc of America Merrill Lynch Commercial Mortgage, Inc., Series 2005-3, Class AM, 4.727%, 07/10/43		22
	8,571	CD Commercial Mortgage Trust, Series 2007-CD4, Class XC, IO, VAR, 0.573%, 12/11/49 (e)		7
		COMM Mortgage Trust,
	500	Series 2012-9W57, Class A, 2.365%, 02/10/29 (e)		501
	132	Series 2014-PAT, Class A, VAR, 1.308%, 08/13/27 (e)		131
	400	Series 2014-TWC, Class A, VAR, 1.358%, 02/13/32 (e)		400

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 79

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Commercial Mortgage-Backed Securities — continued
	281	Series 2015-CR25, Class A4, 3.759%, 08/10/48		310
		Federal Home Loan Mortgage Corp., Multifamily Structured Pass-Through Certificates,
	1,000	Series K037, Class A2, 3.490%, 01/25/24		1,107
	739	Series KF12, Class A, VAR, 1.224%, 09/25/22		741
	500	Series KSMC, Class A2, 2.615%, 01/25/23		523
	88	Morgan Stanley Re-REMIC Trust, Series 2012-XA, Class A, 2.000%, 07/27/49 (e)		88
	161	NorthStar, (Cayman Islands), Series 2013-1A, Class B, VAR, 5.524%, 08/25/29 (e)		163
		PFP Ltd., (Cayman Islands),
	345	Series 2015-2, Class A, VAR, 1.958%, 07/14/34 (e)		343
	100	Series 2015-2, Class C, VAR, 3.758%, 07/14/34 (e)		97
	100	Series 2015-2, Class D, VAR, 4.508%, 07/14/34 (e)		97
		RAIT Trust,
	250	Series 2014-FL2, Class B, VAR, 2.658%, 05/13/31 (e)		249
	68	Series 2014-FL3, Class A, VAR, 1.758%, 12/15/31 (e)		67
	246	Series 2015-FL4, Class A, VAR, 1.857%, 12/15/31 (e)		246
	250	Series 2015-FL5, Class B, VAR, 4.408%, 01/15/31 (e)		250
		Resource Capital Corp., Ltd., (Cayman Islands),
	118	Series 2015-CRE4, Class A, VAR, 1.907%, 08/15/32 (e)		116
	153	Series 2015-CRE4, Class B, VAR, 3.507%, 08/15/32 (e)		144
	116	UBS-BAMLL Trust, Series 2012-WRM, Class A, 3.663%, 06/10/30 (e)		123
	104	UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class A4, 3.525%, 05/10/63		113
	500	VNDO Mortgage Trust, Series 2013-PENN, Class A, 3.808%, 12/13/29 (e)		537
	1	Wells Fargo Resecuritization Trust, Series 2012-IO, Class A, 1.750%, 08/20/21 (e)		1
		Total Commercial Mortgage-Backed Securities (Cost $7,057)		7,174
	Corporate Bonds — 23.5%
		Consumer Discretionary — 1.0%
		Auto Components — 0.0% (g)
	99	Johnson Controls, Inc., 3.750%, 12/01/21		105

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Automobiles — 0.1%
		Daimler Finance North America LLC,
	150	1.875%, 01/11/18 (e)		151
	150	2.625%, 09/15/16 (e)		150
				301
		Internet & Direct Marketing Retail — 0.1%
	197	Amazon.com, Inc., 3.800%, 12/05/24		220
		Media — 0.7%
		21st Century Fox America, Inc.,
	100	7.250%, 05/18/18		110
	100	7.700%, 10/30/25		137
		CBS Corp.,
	144	3.700%, 08/15/24		152
	208	4.000%, 01/15/26		224
	80	Comcast Corp., 3.375%, 08/15/25		86
	78	Discovery Communications LLC, 4.375%, 06/15/21		85
	550	NBCUniversal Media LLC, 2.875%, 01/15/23		576
		Time Warner Cable, Inc.,
	57	5.850%, 05/01/17		59
	50	6.750%, 07/01/18		54
	150	8.250%, 04/01/19		173
	35	8.750%, 02/14/19		41
	100	Time Warner Cos., Inc., 7.570%, 02/01/24		130
	300	Time Warner, Inc., 3.600%, 07/15/25		321
		Viacom, Inc.,
	37	2.750%, 12/15/19		38
	100	3.125%, 06/15/22		100
	11	3.250%, 03/15/23		11
	43	4.250%, 09/01/23		45
				2,342
		Multiline Retail — 0.0% (g)
		Macy’s Retail Holdings, Inc.,
	37	2.875%, 02/15/23		36
	49	4.375%, 09/01/23		52
	25	7.450%, 07/15/17		26
	35	Nordstrom, Inc., 4.000%, 10/15/21		38
				152
		Specialty Retail — 0.1%
	32	Bed Bath & Beyond, Inc., 4.915%, 08/01/34		32
	67	Home Depot, Inc. (The), 2.625%, 06/01/22		70
	119	Lowe’s Cos., Inc., 3.375%, 09/15/25		129
				231
		Total Consumer Discretionary		3,351

SEE NOTES TO FINANCIAL STATEMENTS.

80 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Consumer Staples — 1.3%
		Beverages — 0.4%
	75	Anheuser-Busch Cos. LLC, 5.500%, 01/15/18		79
		Anheuser-Busch InBev Finance, Inc.,
	136	1.900%, 02/01/19		137
	398	3.300%, 02/01/23		418
	150	3.700%, 02/01/24		163
	70	Diageo Capital plc, (United Kingdom), 4.828%, 07/15/20		78
	30	Heineken N.V., (Netherlands), 1.400%, 10/01/17 (e)		30
		PepsiCo, Inc.,
	180	1.250%, 08/13/17		180
	142	3.100%, 07/17/22		151
	6	7.900%, 11/01/18		7
	200	SABMiller Holdings, Inc., 3.750%, 01/15/22 (e)		218
				1,461
		Food & Staples Retailing — 0.5%
	86	Costco Wholesale Corp., 2.250%, 02/15/22		88
	741	CVS Health Corp., 4.000%, 12/05/23		820
	49	CVS Pass-Through Trust, 5.926%, 01/10/34 (e)		59
		Kroger Co. (The),
	50	2.200%, 01/15/17		50
	90	4.000%, 02/01/24		99
	30	6.150%, 01/15/20		34
	75	6.400%, 08/15/17		79
	100	Sysco Corp., 3.750%, 10/01/25		108
	185	Walgreens Boots Alliance, Inc., 3.100%, 06/01/23		191
				1,528
		Food Products — 0.4%
	135	Bunge Ltd. Finance Corp., 8.500%, 06/15/19		158
	14	Bunge N.A. Finance LP, 5.900%, 04/01/17		14
		Cargill, Inc.,
	100	3.300%, 03/01/22 (e)		104
	106	4.307%, 05/14/21 (e)		117
	24	ConAgra Foods, Inc., 2.100%, 03/15/18		24
		Kraft Heinz Foods Co.,
	30	3.500%, 06/06/22		32
	22	5.375%, 02/10/20		25
	332	6.125%, 08/23/18		362
	66	5.000%, 07/15/35		77
	92	Mead Johnson Nutrition Co., Class C, 4.125%, 11/15/25		101
	150	Mondelez International, Inc., 4.000%, 02/01/24		166

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Food Products — continued
	73	Tyson Foods, Inc., 3.950%, 08/15/24		79
				1,259
		Household Products — 0.0% (g)
	20	Kimberly-Clark Corp., 2.400%, 03/01/22		21
	46	Procter & Gamble — ESOP, Series A, 9.360%, 01/01/21		54
				75
		Total Consumer Staples		4,323
		Energy — 2.2%
		Energy Equipment & Services — 0.1%
	107	Halliburton Co., 3.500%, 08/01/23		111
		Nabors Industries, Inc.,
	30	4.625%, 09/15/21		28
	30	5.000%, 09/15/20		30
	15	National Oilwell Varco, Inc., 1.350%, 12/01/17		15
	47	Schlumberger Investment S.A., (Luxembourg), 3.300%, 09/14/21 (e)		50
				234
		Oil, Gas & Consumable Fuels — 2.1%
		Apache Corp.,
	42	3.250%, 04/15/22		43
	25	6.900%, 09/15/18		27
	29	Boardwalk Pipelines LP, 4.950%, 12/15/24		30
		BP Capital Markets plc, (United Kingdom),
	20	1.375%, 11/06/17		20
	233	2.237%, 05/10/19		238
	256	2.750%, 05/10/23		261
	60	3.506%, 03/17/25		64
	166	3.814%, 02/10/24		181
		Buckeye Partners LP,
	30	4.350%, 10/15/24		30
	40	4.875%, 02/01/21		43
	25	5.850%, 11/15/43		26
		Canadian Natural Resources Ltd., (Canada),
	25	3.900%, 02/01/25		25
	150	5.900%, 02/01/18		158
	21	Cenovus Energy, Inc., (Canada), 3.000%, 08/15/22		20
	40	Chevron Corp., 2.355%, 12/05/22		41
	200	CNOOC Nexen Finance 2014 ULC, (Canada), 4.250%, 04/30/24		218
	150	ConocoPhillips, 5.750%, 02/01/19		164
	190	ConocoPhillips Canada Funding Co. I, (Canada), 5.625%, 10/15/16		191

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 81

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Oil, Gas & Consumable Fuels — continued
	41	ConocoPhillips Co., 2.200%, 05/15/20		41
	58	Ecopetrol S.A., (Colombia), 4.125%, 01/16/25		56
	80	Encana Corp., (Canada), 6.500%, 05/15/19		86
		Energy Transfer Partners LP,
	89	3.600%, 02/01/23		87
	91	4.050%, 03/15/25		91
	200	Eni S.p.A., (Italy), 4.150%, 10/01/20 (e)		211
	74	EnLink Midstream Partners LP, 4.150%, 06/01/25		70
		Enterprise Products Operating LLC,
	500	1.650%, 05/07/18		501
	37	3.750%, 02/15/25		38
	49	3.900%, 02/15/24		52
		EOG Resources, Inc.,
	23	2.625%, 03/15/23		23
	100	4.100%, 02/01/21		108
	300	4.150%, 01/15/26		330
	250	Gulf South Pipeline Co. LP, 4.000%, 06/15/22		242
	50	Magellan Midstream Partners LP, 6.550%, 07/15/19		56
		Marathon Oil Corp.,
	228	5.900%, 03/15/18		237
	175	6.000%, 10/01/17		181
	67	Marathon Petroleum Corp., 3.625%, 09/15/24		68
	36	Noble Energy, Inc., 5.625%, 05/01/21		38
	91	Occidental Petroleum Corp., 3.500%, 06/15/25		97
		ONEOK Partners LP,
	40	3.200%, 09/15/18		41
	12	3.375%, 10/01/22		12
	200	4.900%, 03/15/25		217
	28	5.000%, 09/15/23		30
	97	Petro-Canada, (Canada), 6.050%, 05/15/18		104
		Petroleos Mexicanos, (Mexico),
	59	4.250%, 01/15/25		59
	69	4.875%, 01/18/24		72
	149	6.375%, 02/04/21 (e)		165
	43	Phillips 66, 2.950%, 05/01/17		43
		Plains All American Pipeline LP/PAA Finance Corp.,
	59	2.600%, 12/15/19		60
	100	3.600%, 11/01/24		97
	250	4.650%, 10/15/25		259
	200	Sinopec Group Overseas Development 2013 Ltd., (United Kingdom), 4.375%, 10/17/23 (e)		223
		Spectra Energy Capital LLC,
	150	5.650%, 03/01/20		162

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Oil, Gas & Consumable Fuels — continued
	140	6.200%, 04/15/18		149
	50	8.000%, 10/01/19		57
		Spectra Energy Partners LP,
	79	2.950%, 09/25/18		80
	63	3.500%, 03/15/25		65
		Statoil ASA, (Norway),
	67	1.150%, 05/15/18		67
	143	2.650%, 01/15/24		146
	125	3.150%, 01/23/22		133
	180	Sunoco Logistics Partners Operations LP, 4.650%, 02/15/22		194
		Total Capital International S.A., (France),
	44	1.500%, 02/17/17		44
	75	1.550%, 06/28/17		75
		TransCanada PipeLines Ltd., (Canada),
	172	3.750%, 10/16/23		184
	100	6.500%, 08/15/18		109
	30	7.125%, 01/15/19		33
				7,273
		Total Energy		7,507
		Financials — 11.1%
		Banks — 4.8%
		ABN AMRO Bank N.V., (Netherlands),
	200	1.800%, 06/04/18 (e)		201
	200	2.500%, 10/30/18 (e)		204
	200	ANZ New Zealand International Ltd., (New Zealand), 2.600%, 09/23/19 (e)		205
	250	Australia & New Zealand Banking Group Ltd., (Australia), 2.400%, 11/23/16 (e)		251
		Bank of America Corp.,
	300	2.000%, 01/11/18		302
	150	3.300%, 01/11/23		156
	485	3.875%, 08/01/25		519
	42	4.125%, 01/22/24		46
	100	5.000%, 05/13/21		112
	130	5.625%, 07/01/20		147
	300	5.650%, 05/01/18		319
	170	5.750%, 12/01/17		179
	50	5.875%, 01/05/21		58
	814	6.400%, 08/28/17		853
	266	6.875%, 04/25/18		288
	208	Series L, 1.950%, 05/12/18		209
	200	Series L, 2.250%, 04/21/20		202
	154	Series L, 3.950%, 04/21/25		160

SEE NOTES TO FINANCIAL STATEMENTS.

82 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Banks — continued
		Bank of Nova Scotia (The), (Canada),
	175	1.450%, 04/25/18		176
	200	1.700%, 06/11/18		201
	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)		262
	317	Barclays plc, (United Kingdom), 3.200%, 08/10/21		319
		BB&T Corp.,
	225	2.625%, 06/29/20		232
	100	5.250%, 11/01/19		110
	234	Canadian Imperial Bank of Commerce, (Canada), 2.250%, 07/21/20 (e)		239
	300	Capital One Bank USA N.A., 3.375%, 02/15/23		308
	250	Capital One N.A., 2.350%, 08/17/18		253
		Citigroup, Inc.,
	650	1.700%, 04/27/18		651
	106	1.800%, 02/05/18		106
	82	2.150%, 07/30/18		83
	350	2.400%, 02/18/20		355
	115	5.500%, 09/13/25		130
	16	Comerica, Inc., 3.800%, 07/22/26		17
		Commonwealth Bank of Australia, (Australia),
	250	2.250%, 03/16/17 (e)		252
	201	4.500%, 12/09/25 (e)		215
		Cooperatieve Rabobank UA, (Netherlands),
	34	3.375%, 01/19/17		34
	118	3.875%, 02/08/22		129
	250	4.375%, 08/04/25		265
	250	Discover Bank, 3.100%, 06/04/20		257
		Fifth Third Bancorp,
	146	2.875%, 07/27/20		151
	350	5.450%, 01/15/17		355
		HSBC Holdings plc, (United Kingdom),
	196	4.000%, 03/30/22		210
	200	4.250%, 08/18/25		208
	300	4.875%, 01/14/22		333
		Huntington National Bank (The),
	250	2.000%, 06/30/18		252
	250	2.875%, 08/20/20		257
		KeyCorp,
	56	2.900%, 09/15/20		58
	50	5.100%, 03/24/21		57

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Banks — continued
	200	Lloyds Bank plc, (United Kingdom), 1.750%, 03/16/18		200
	300	Manufacturers & Traders Trust Co., 6.625%, 12/04/17		319
	200	Mizuho Bank Ltd., (Japan), 2.650%, 09/25/19 (e)		204
	36	MUFG Americas Holdings Corp., 2.250%, 02/10/20		36
	300	Nordea Bank AB, (Sweden), 3.125%, 03/20/17 (e)		303
	265	PNC Financial Services Group Inc. (The), 5.125%, 02/08/20		294
		PNC Financial Services Group, Inc. (The),
	133	4.375%, 08/11/20		146
	115	5.625%, 02/01/17		117
	107	Regions Financial Corp., 3.200%, 02/08/21		111
		Royal Bank of Canada, (Canada),
	150	1.875%, 02/05/20		151
	105	2.000%, 12/10/18		106
	125	2.200%, 07/27/18		127
	77	Santander UK Group Holdings plc, (United Kingdom), 3.125%, 01/08/21		78
	233	Santander UK plc, (United Kingdom), 2.500%, 03/14/19		236
	250	Stadshypotek AB, (Sweden), 1.875%, 10/02/19 (e)		252
	200	Standard Chartered plc, (United Kingdom), 5.200%, 01/26/24 (e)		215
		Toronto-Dominion Bank (The), (Canada),
	200	1.500%, 03/13/17 (e)		201
	104	2.250%, 11/05/19		106
	250	U.S. Bank N.A., 2.800%, 01/27/25		258
		Wells Fargo & Co.,
	130	2.600%, 07/22/20		134
	99	3.000%, 02/19/25		102
	51	4.300%, 07/22/27		56
	237	4.480%, 01/16/24		263
	415	5.625%, 12/11/17		437
	250	Wells Fargo Bank N.A., 6.000%, 11/15/17		263
	285	Westpac Banking Corp., (Australia), 4.875%, 11/19/19		312
				16,113
		Capital Markets — 2.8%
	120	Ameriprise Financial, Inc., 4.000%, 10/15/23		131
		Bank of New York Mellon Corp. (The),
	150	3.250%, 09/11/24		160

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 83

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Capital Markets — continued
	75	4.600%, 01/15/20		82
	100	Series 0012, 3.650%, 02/04/24		110
		BlackRock, Inc.,
	160	4.250%, 05/24/21		178
	166	Series 2, 5.000%, 12/10/19		185
	150	Blackstone Holdings Finance Co. LLC, 5.875%, 03/15/21 (e)		174
	40	Charles Schwab Corp. (The), 3.225%, 09/01/22		43
	397	CME Group, Inc., 3.000%, 03/15/25		418
	250	Credit Suisse AG, (Switzerland), 1.700%, 04/27/18		250
		Deutsche Bank AG, (Germany),
	319	1.875%, 02/13/18		317
	38	2.950%, 08/20/20		38
	62	3.375%, 05/12/21		62
		Goldman Sachs Group, Inc. (The),
	48	2.600%, 04/23/20		49
	68	2.625%, 01/31/19		70
	117	2.750%, 09/15/20		120
	440	2.875%, 02/25/21		452
	137	3.750%, 05/22/25		145
	120	4.000%, 03/03/24		129
	68	5.375%, 03/15/20		76
	80	5.750%, 01/24/22		93
	660	5.950%, 01/18/18		699
	250	7.500%, 02/15/19		285
	200	ING Bank N.V., (Netherlands), 3.750%, 03/07/17 (e)		202
		Intercontinental Exchange, Inc.,
	47	2.500%, 10/15/18		48
	88	4.000%, 10/15/23		97
		Invesco Finance plc, (United Kingdom),
	125	3.750%, 01/15/26		134
	71	4.000%, 01/30/24		78
		Jefferies Group LLC,
	150	5.125%, 04/13/18		157
	125	6.875%, 04/15/21		143
	111	Legg Mason, Inc., 4.750%, 03/15/26		121
		Macquarie Bank Ltd., (Australia),
	291	1.600%, 10/27/17 (e)		292
	65	2.600%, 06/24/19 (e)		66
	100	2.850%, 07/29/20 (e)		102
	300	3.900%, 01/15/26 (e)		318
	100	4.000%, 07/29/25 (e)		107

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Capital Markets — continued
		Macquarie Group Ltd., (Australia),
	150	6.000%, 01/14/20 (e)		166
	40	6.250%, 01/14/21 (e)		46
		Morgan Stanley,
	40	2.650%, 01/27/20		41
	284	2.800%, 06/16/20		292
	83	3.700%, 10/23/24		88
	330	4.000%, 07/23/25		356
	155	5.000%, 11/24/25		173
	166	5.500%, 07/24/20		187
	100	5.500%, 07/28/21		115
	450	5.625%, 09/23/19		500
	100	5.750%, 01/25/21		115
	100	6.625%, 04/01/18		108
	100	7.300%, 05/13/19		114
	84	Nomura Holdings, Inc., (Japan), 6.700%, 03/04/20		97
		State Street Corp.,
	36	3.100%, 05/15/23		38
	294	3.550%, 08/18/25		321
	192	3.700%, 11/20/23		212
	34	TD Ameritrade Holding Corp., 2.950%, 04/01/22		35
		Thomson Reuters Corp., (Canada),
	51	3.850%, 09/29/24		55
	105	3.950%, 09/30/21		112
	60	4.700%, 10/15/19		65
				9,367
		Consumer Finance — 1.6%
	250	American Express Co., 7.000%, 03/19/18		271
		American Express Credit Corp.,
	261	1.800%, 07/31/18		263
	139	1.875%, 11/05/18		140
	95	2.250%, 05/05/21		97
	200	American Honda Finance Corp., 2.125%, 02/28/17 (e)		201
		Capital One Financial Corp.,
	125	3.200%, 02/05/25		127
	110	3.500%, 06/15/23		115
		Caterpillar Financial Services Corp.,
	250	1.000%, 11/25/16		250
	206	2.250%, 12/01/19		211
	58	2.850%, 06/01/22		60
	65	7.050%, 10/01/18		73
	100	7.150%, 02/15/19		114

SEE NOTES TO FINANCIAL STATEMENTS.

84 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Consumer Finance — continued
		Ford Motor Credit Co. LLC,
	200	2.240%, 06/15/18		202
	550	2.375%, 03/12/19		557
	200	3.000%, 06/12/17		203
	250	3.157%, 08/04/20		258
	200	4.250%, 09/20/22		216
	130	General Motors Financial Co., Inc., 3.100%, 01/15/19		133
		HSBC USA, Inc.,
	200	1.700%, 03/05/18		200
	180	2.350%, 03/05/20		181
	296	2.750%, 08/07/20		303
		John Deere Capital Corp.,
	400	2.375%, 07/14/20		412
	50	2.450%, 09/11/20		51
	33	3.150%, 10/15/21		35
	73	Nissan Motor Acceptance Corp., 1.800%, 03/15/18 (e)		73
	66	PACCAR Financial Corp., 1.600%, 03/15/17		66
		Toyota Motor Credit Corp.,
	100	1.375%, 01/10/18		101
	225	1.750%, 05/22/17		226
	105	2.100%, 01/17/19		107
	200	2.125%, 07/18/19		204
				5,450
		Diversified Financial Services — 1.1%
	425	Bank of America N.A., 5.300%, 03/15/17		434
		Berkshire Hathaway, Inc.,
	98	2.750%, 03/15/23		102
	638	3.400%, 01/31/22		688
	649	GE Capital International Funding Co. Unlimited Co., (Ireland), 2.342%, 11/15/20		668
		Private Export Funding Corp.,
	500	Series EE, 2.800%, 05/15/22		530
	200	Series KK, 3.550%, 01/15/24		222
		Shell International Finance B.V., (Netherlands),
	42	1.125%, 08/21/17		42
	367	2.125%, 05/11/20		374
	100	3.250%, 05/11/25		106
	195	4.375%, 03/25/20		214
		Siemens Financieringsmaatschappij N.V., (Netherlands),
	250	2.900%, 05/27/22 (e)		264
	100	5.750%, 10/17/16 (e)		101
				3,745

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Insurance — 0.8%
	61	Allstate Corp. (The), 3.150%, 06/15/23		65
		American International Group, Inc.,
	161	3.750%, 07/10/25		170
	259	4.125%, 02/15/24		278
	143	Aon plc, (United Kingdom), 3.875%, 12/15/25		154
		Berkshire Hathaway Finance Corp.,
	65	1.300%, 05/15/18		65
	150	5.400%, 05/15/18		161
		Chubb INA Holdings, Inc.,
	200	2.700%, 03/13/23		207
	130	2.875%, 11/03/22		137
		CNA Financial Corp.,
	52	3.950%, 05/15/24		55
	38	4.500%, 03/01/26		41
	80	Jackson National Life Global Funding, 4.700%, 06/01/18 (e)		84
	41	Liberty Mutual Group, Inc., 5.000%, 06/01/21 (e)		45
	35	Lincoln National Corp., 4.200%, 03/15/22		38
	300	Manulife Financial Corp., (Canada), 4.150%, 03/04/26		327
	50	Marsh & McLennan Cos., Inc., 3.300%, 03/14/23		52
		Metropolitan Life Global Funding I,
	207	1.500%, 01/10/18 (e)		208
	175	3.650%, 06/14/18 (e)		182
	100	3.875%, 04/11/22 (e)		109
	150	Pacific Life Global Funding, 5.000%, 05/15/17 (e)		153
	16	Principal Financial Group, Inc., 1.850%, 11/15/17		16
	106	Principal Life Global Funding II, 2.250%, 10/15/18 (e)		108
	150	Prudential Insurance Co. of America (The), 8.300%, 07/01/25 (e)		203
	90	Reliance Standard Life Global Funding II, 3.050%, 01/20/21 (e)		92
				2,950
		Total Financials		37,625
		Health Care — 1.0%
		Biotechnology — 0.4%
		Amgen, Inc.,
	44	2.125%, 05/01/20		45
	400	3.875%, 11/15/21		435
	40	5.700%, 02/01/19		44

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 85

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Biotechnology — continued
	75	Baxalta, Inc., 3.600%, 06/23/22		77
	184	Biogen, Inc., 3.625%, 09/15/22		197
		Celgene Corp.,
	98	3.250%, 08/15/22		102
	161	3.625%, 05/15/24		171
		Gilead Sciences, Inc.,
	59	3.250%, 09/01/22		63
	57	3.650%, 03/01/26		61
				1,195
		Health Care Equipment & Supplies — 0.0% (g)
	40	Becton, Dickinson & Co., 5.000%, 05/15/19		43
	84	Danaher Corp., 2.400%, 09/15/20		87
				130
		Health Care Providers & Services — 0.3%
		Anthem, Inc.,
	93	2.300%, 07/15/18		94
	115	3.125%, 05/15/22		120
		Cardinal Health, Inc.,
	45	2.400%, 11/15/19		46
	49	3.750%, 09/15/25		53
	72	Express Scripts Holding Co., 3.500%, 06/15/24		75
	214	Laboratory Corp. of America Holdings, 3.200%, 02/01/22		222
		UnitedHealth Group, Inc.,
	91	1.700%, 02/15/19		92
	112	3.375%, 11/15/21		120
				822
		Life Sciences Tools & Services — 0.0% (g)
		Thermo Fisher Scientific, Inc.,
	35	3.150%, 01/15/23		36
	22	3.600%, 08/15/21		24
	34	4.150%, 02/01/24		37
				97
		Pharmaceuticals — 0.3%
		AbbVie, Inc.,
	119	1.750%, 11/06/17		119
	127	2.500%, 05/14/20		130
	87	2.900%, 11/06/22		90
	35	3.200%, 11/06/22		37
	100	Allergan, Inc., 2.800%, 03/15/23		100
		Forest Laboratories LLC,
	250	4.375%, 02/01/19 (e)		264
	69	5.000%, 12/15/21 (e)		77

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Pharmaceuticals — continued
		Merck & Co., Inc.,
	75	1.300%, 05/18/18		75
	64	2.350%, 02/10/22		66
	62	2.400%, 09/15/22		64
	30	3.700%, 02/10/45		32
				1,054
		Total Health Care		3,298
		Industrials — 1.5%
		Aerospace & Defense — 0.1%
	43	Airbus Group Finance B.V., (Netherlands), 2.700%, 04/17/23 (e)		44
		BAE Systems Holdings, Inc.,
	68	3.800%, 10/07/24 (e)		72
	70	6.375%, 06/01/19 (e)		78
		Lockheed Martin Corp.,
	47	2.125%, 09/15/16		47
	74	3.100%, 01/15/23		78
	140	Precision Castparts Corp., 3.250%, 06/15/25		151
				470
		Air Freight & Logistics — 0.2%
	473	Federal Express Corp. 1998 Pass-Through Trust, Series 981A, 6.720%, 01/15/22		531
	115	United Parcel Service of America, Inc., 8.375%, 04/01/20		142
				673
		Airlines — 0.1%
	160	American Airlines 2013-2 Class A Pass-Through Trust, 4.950%, 01/15/23		175
	20	Continental Airlines 1999-2 Class A-1 Pass-Through Trust, Series 992A, 7.256%, 03/15/20		22
	43	Delta Air Lines 2010-2 Class A Pass-Through Trust, Series 2A, 4.950%, 05/23/19		45
				242
		Commercial Services & Supplies — 0.0% (g)
	50	Pitney Bowes, Inc., 5.600%, 03/15/18		53
		Construction & Engineering — 0.1%
		ABB Finance USA, Inc.,
	32	1.625%, 05/08/17		32
	41	2.875%, 05/08/22		43
	70	Fluor Corp., 3.375%, 09/15/21		75
				150

SEE NOTES TO FINANCIAL STATEMENTS.

86 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Electrical Equipment — 0.0% (g)
		Eaton Corp.,
	27	1.500%, 11/02/17		27
	50	5.600%, 05/15/18		53
				80
		Industrial Conglomerates — 0.4%
		General Electric Co.,
	200	3.100%, 01/09/23		213
	175	3.375%, 03/11/24		192
	500	5.400%, 02/15/17		508
	100	Honeywell International, Inc., 5.300%, 03/01/18		106
	34	Ingersoll-Rand Global Holding Co., Ltd., 4.250%, 06/15/23		37
	152	Koninklijke Philips N.V., (Netherlands), 3.750%, 03/15/22		163
	98	Pentair Finance S.A., (Luxembourg), 2.900%, 09/15/18		99
	62	Roper Technologies, Inc., 3.000%, 12/15/20		65
	32	Tyco International Finance S.A., (Luxembourg), 3.900%, 02/14/26		35
				1,418
		Machinery — 0.1%
		Caterpillar, Inc.,
	74	1.500%, 06/26/17		74
	31	2.600%, 06/26/22		32
	89	Deere & Co., 2.600%, 06/08/22		92
	25	Parker-Hannifin Corp., 5.500%, 05/15/18		27
				225
		Road & Rail — 0.5%
		Burlington Northern Santa Fe LLC,
	43	3.050%, 03/15/22		46
	32	3.450%, 09/15/21		34
	19	3.600%, 09/01/20		20
	100	3.750%, 04/01/24		111
	100	5.650%, 05/01/17		103
	55	Canadian Pacific Railway Co., (Canada), 4.500%, 01/15/22		60
		CSX Corp.,
	100	3.400%, 08/01/24		107
	30	7.375%, 02/01/19		34
	50	7.900%, 05/01/17		52
		ERAC USA Finance LLC,
	27	4.500%, 08/16/21 (e)		30
	48	5.250%, 10/01/20 (e)		54

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Road & Rail — continued
		Norfolk Southern Corp.,
	138	3.250%, 12/01/21		146
	50	7.700%, 05/15/17		52
		Penske Truck Leasing Co. LP/PTL Finance Corp.,
	53	2.875%, 07/17/18 (e)		54
	141	3.375%, 02/01/22 (e)		146
		Ryder System, Inc.,
	23	2.500%, 03/01/17		23
	25	2.500%, 03/01/18		25
	28	2.500%, 05/11/20		28
	86	2.875%, 09/01/20		88
		Union Pacific Corp.,
	21	2.950%, 01/15/23		22
	75	3.646%, 02/15/24		82
	233	4.163%, 07/15/22		263
				1,580
		Trading Companies & Distributors — 0.0% (g)
	55	WW Grainger, Inc., 4.600%, 06/15/45		66
		Total Industrials		4,957
		Information Technology — 1.2%
		Communications Equipment — 0.1%
		Cisco Systems, Inc.,
	44	2.950%, 02/28/26		47
	194	3.000%, 06/15/22		207
				254
		Electronic Equipment, Instruments & Components — 0.1%
		Arrow Electronics, Inc.,
	32	3.000%, 03/01/18		32
	16	4.500%, 03/01/23		17
	100	6.875%, 06/01/18		107
	63	7.500%, 01/15/27		78
				234
		Internet Software & Services — 0.1%
	410	eBay, Inc., 2.600%, 07/15/22		415
		IT Services — 0.3%
		International Business Machines Corp.,
	126	1.800%, 05/17/19		128
	309	2.250%, 02/19/21		318
	350	7.625%, 10/15/18		396
	90	Total System Services, Inc., 4.800%, 04/01/26		99
	236	Xerox Corp., 5.625%, 12/15/19		256
				1,197

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 87

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Semiconductors & Semiconductor Equipment — 0.1%
	130	Intel Corp., 3.700%, 07/29/25		145
	30	National Semiconductor Corp., 6.600%, 06/15/17		31
	73	Texas Instruments, Inc., 1.650%, 08/03/19		74
				250
		Software — 0.1%
	25	Intuit, Inc., 5.750%, 03/15/17		26
		Microsoft Corp.,
	23	0.875%, 11/15/17		23
	34	2.125%, 11/15/22		34
	50	2.375%, 02/12/22		52
		Oracle Corp.,
	200	3.625%, 07/15/23		218
	100	5.750%, 04/15/18		107
				460
		Technology Hardware, Storage & Peripherals — 0.4%
		Apple, Inc.,
	273	2.150%, 02/09/22		278
	182	2.250%, 02/23/21		187
	199	2.400%, 05/03/23		204
	250	2.700%, 05/13/22		261
	207	VAR, 1.009%, 05/03/18		208
		HP, Inc.,
	118	4.375%, 09/15/21		127
	45	4.650%, 12/09/21		49
				1,314
		Total Information Technology		4,124
		Materials — 0.6%
		Chemicals — 0.3%
		Agrium, Inc., (Canada),
	45	3.375%, 03/15/25		46
	100	4.125%, 03/15/35		99
	125	CF Industries, Inc., 7.125%, 05/01/20		144
		Dow Chemical Co. (The),
	59	3.000%, 11/15/22		61
	100	3.500%, 10/01/24		106
	60	4.125%, 11/15/21		66
	20	8.550%, 05/15/19		23
	88	Ecolab, Inc., 3.250%, 01/14/23		92
		Mosaic Co. (The),
	34	3.750%, 11/15/21		36
	212	4.250%, 11/15/23		226

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Chemicals — continued
	25	Potash Corp. of Saskatchewan, Inc., (Canada), 3.250%, 12/01/17		26
	41	Praxair, Inc., 2.650%, 02/05/25		42
	150	Union Carbide Corp., 7.500%, 06/01/25		189
				1,156
		Construction Materials — 0.1%
	200	CRH America, Inc., 3.875%, 05/18/25 (e)		214
		Metals & Mining — 0.2%
		BHP Billiton Finance USA Ltd., (Australia),
	95	3.850%, 09/30/23		104
	100	5.400%, 03/29/17		102
	100	6.500%, 04/01/19		113
		Freeport-McMoRan, Inc.,
	128	2.150%, 03/01/17		127
	107	3.875%, 03/15/23		92
	27	Nucor Corp., 4.000%, 08/01/23		29
				567
		Total Materials		1,937
		Real Estate — 0.6%
		Equity Real Estate Investment Trusts (REITs) — 0.6%
		American Tower Corp.,
	80	3.500%, 01/31/23		84
	38	5.000%, 02/15/24		43
		American Tower Trust I,
	45	1.551%, 03/15/18 (e)		45
	200	3.070%, 03/15/23 (e)		208
		Equity Commonwealth,
	125	5.875%, 09/15/20		138
	150	6.650%, 01/15/18		156
	255	ERP Operating LP, 4.625%, 12/15/21		286
		HCP, Inc.,
	38	3.400%, 02/01/25		37
	115	3.875%, 08/15/24		117
	17	4.200%, 03/01/24		18
	90	4.250%, 11/15/23		95
		Prologis LP,
	38	3.750%, 11/01/25		41
	53	4.250%, 08/15/23		59
	50	Realty Income Corp., 3.875%, 07/15/24		53
		Simon Property Group LP,
	100	2.500%, 09/01/20		103
	62	3.375%, 10/01/24		66
	38	3.750%, 02/01/24		41

SEE NOTES TO FINANCIAL STATEMENTS.

88 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Equity Real Estate Investment Trusts (REITs) — continued
	81	4.125%, 12/01/21		90
	90	4.375%, 03/01/21		100
		Ventas Realty LP,
	27	3.500%, 02/01/25		28
	44	3.750%, 05/01/24		46
	62	4.125%, 01/15/26		67
	73	Welltower, Inc., 4.500%, 01/15/24		80
		Total Real Estate		2,001
		Telecommunication Services — 1.4%
		Diversified Telecommunication Services — 1.3%
		AT&T, Inc.,
	600	3.000%, 06/30/22		618
	28	3.400%, 05/15/25		29
	50	3.600%, 02/17/23		53
	353	3.800%, 03/15/22		378
	25	3.875%, 08/15/21		27
	26	3.950%, 01/15/25		28
	150	4.600%, 02/15/21		165
	180	5.500%, 02/01/18		190
	350	Bellsouth Capital Funding Corp., 7.875%, 02/15/30		482
	100	British Telecommunications plc, (United Kingdom), 5.950%, 01/15/18		106
		GTP Acquisition Partners I LLC,
	174	2.350%, 06/15/20 (e)		173
	202	3.482%, 06/16/25 (e)		211
	27	Nippon Telegraph & Telephone Corp., (Japan), 1.400%, 07/18/17		27
	61	Orange S.A., (France), 2.750%, 09/14/16		61
	148	Qwest Corp., 6.750%, 12/01/21		165
	31	Telefonica Emisiones S.A.U., (Spain), 5.134%, 04/27/20		34
		Verizon Communications, Inc.,
	115	2.625%, 02/21/20		119
	295	3.500%, 11/01/24		316
	156	4.150%, 03/15/24		173
	353	4.500%, 09/15/20		390
	401	5.150%, 09/15/23		469
				4,214
		Wireless Telecommunication Services — 0.1%
	160	Rogers Communications, Inc., (Canada), 4.100%, 10/01/23		178
		Vodafone Group plc, (United Kingdom),
	151	1.500%, 02/19/18		151

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Wireless Telecommunication Services — continued
	49	1.625%, 03/20/17		49
				378
		Total Telecommunication Services		4,592
		Utilities — 1.6%
		Electric Utilities — 1.2%
	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		45
	50	Cleveland Electric Illuminating Co. (The), Series D, 7.880%, 11/01/17		53
	30	Connecticut Light & Power Co. (The), 5.650%, 05/01/18		32
	20	DTE Electric Co., 2.650%, 06/15/22		21
	285	Duke Energy Corp., 3.550%, 09/15/21		306
	60	Duke Energy Indiana LLC, 3.750%, 07/15/20		65
		Duke Energy Progress LLC,
	40	2.800%, 05/15/22		42
	106	3.250%, 08/15/25		114
	150	5.300%, 01/15/19		163
	60	Electricite de France S.A., (France), 2.150%, 01/22/19 (e)		61
	100	Enel Finance International N.V., (Netherlands), 5.125%, 10/07/19 (e)		110
	186	Entergy Mississippi, Inc., 2.850%, 06/01/28		190
	400	Florida Power & Light Co., 3.125%, 12/01/25		427
		Indiana Michigan Power Co.,
	135	7.000%, 03/15/19		152
	100	Series J, 3.200%, 03/15/23		104
	25	Jersey Central Power & Light Co., 7.350%, 02/01/19		28
	47	Kansas City Power & Light Co., 3.150%, 03/15/23		48
	60	Nevada Power Co., 7.125%, 03/15/19		68
	27	NextEra Energy Capital Holdings, Inc., 2.400%, 09/15/19		27
		Niagara Mohawk Power Corp.,
	28	3.508%, 10/01/24 (e)		30
	40	4.881%, 08/15/19 (e)		44
	25	Ohio Power Co., 6.050%, 05/01/18		27
	50	Oncor Electric Delivery Co. LLC, 6.800%, 09/01/18		55
		Pacific Gas & Electric Co.,
	68	2.450%, 08/15/22		69
	50	3.250%, 06/15/23		53
	125	5.625%, 11/30/17		132

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 89

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	Corporate Bonds — continued
		Electric Utilities — continued
		PacifiCorp,
	140	3.600%, 04/01/24		153
	100	3.850%, 06/15/21		109
	60	5.650%, 07/15/18		65
	75	PECO Energy Co., 5.350%, 03/01/18		79
	51	Public Service Co. of Colorado, 3.200%, 11/15/20		54
	74	Public Service Co. of Oklahoma, 4.400%, 02/01/21		81
	375	Public Service Electric & Gas Co., 3.000%, 05/15/25		397
		Southern California Edison Co.,
	46	1.845%, 02/01/22		46
	212	Series C, 3.500%, 10/01/23		231
	45	Southern Co. (The), 1.950%, 09/01/16		45
	30	Southwestern Public Service Co., Series G, 8.750%, 12/01/18		35
		Virginia Electric & Power Co.,
	21	3.450%, 02/15/24		23
	100	5.400%, 04/30/18		107
	40	Series A, 6.000%, 05/15/37		54
				3,999
		Gas Utilities — 0.0% (g)
	30	Atmos Energy Corp., 8.500%, 03/15/19		35
	50	CenterPoint Energy Resources Corp., 4.500%, 01/15/21		54
				89
		Independent Power & Renewable Electricity Producers — 0.2%
		Exelon Generation Co. LLC,
	45	2.950%, 01/15/20		46
	72	4.000%, 10/01/20		77
	37	PSEG Power LLC, 4.300%, 11/15/23		40
	317	Southern Power Co., 4.150%, 12/01/25		343
				506
		Multi-Utilities — 0.2%
	50	Consumers Energy Co., 5.650%, 04/15/20		57
	79	DTE Energy Co., 3.300%, 06/15/22		84
	200	NiSource Finance Corp., 3.850%, 02/15/23		215
		Sempra Energy,
	48	4.050%, 12/01/23		53
	150	9.800%, 02/15/19		178
	94	Southern Co. Gas Capital Corp., 3.500%, 09/15/21		99

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
		Multi-Utilities — continued
	87	WEC Energy Group, Inc., 3.550%, 06/15/25		94
				780
		Water Utilities — 0.0% (g)
	122	American Water Capital Corp., 3.400%, 03/01/25		132
		Total Utilities		5,506
		Total Corporate Bonds (Cost $75,469)		79,221
	Foreign Government Securities — 1.3%
		Israel Government AID Bond, (Israel),
	1,000	Zero Coupon, 02/15/24		856
	1,000	Series 7-Z, Zero Coupon, 08/15/25		817
	1,000	Series 8-Z, Zero Coupon, 08/15/24		843
	1,000	Series 8-Z, Zero Coupon, 02/15/25		830
		Republic of Poland, (Poland),
	125	3.250%, 04/06/26		133
	92	4.000%, 01/22/24		102
		United Mexican States, (Mexico),
	244	3.500%, 01/21/21		261
	250	3.600%, 01/30/25		264
	116	4.000%, 10/02/23		126
		Total Foreign Government Securities (Cost $3,976)		4,232
	Mortgage Pass-Through Securities — 10.8%
		Federal Home Loan Mortgage Corp.,
	41	ARM, 2.540%, 01/01/37		43
	22	ARM, 2.572%, 01/01/27		23
	52	ARM, 2.617%, 11/01/36		55
	11	ARM, 2.625%, 07/01/26		11
	168	ARM, 2.631%, 08/01/36		176
	184	ARM, 2.662%, 12/01/34		196
	154	ARM, 2.842%, 03/01/37		162
	97	ARM, 2.912%, 09/01/36		103
	101	ARM, 2.995%, 09/01/36		106
	179	ARM, 3.063%, 06/01/36		189
	134	ARM, 3.101%, 04/01/38		142
	85	ARM, 3.255%, 02/01/37		91
		Federal Home Loan Mortgage Corp. Gold Pools, 15 Year, Single Family,
	35	4.000%, 06/01/19		36
	6	4.500%, 10/01/18		6
	1	5.500%, 06/01/17		1
	3	6.000%, 04/01/18		3
	40	6.500%, 01/01/17 - 03/01/22		42

SEE NOTES TO FINANCIAL STATEMENTS.

90 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
			Federal Home Loan Mortgage Corp. Gold Pools, 20 Year, Single Family,
	5		6.000%, 12/01/22		6
	19		6.500%, 08/01/26		22
			Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family,
	45		6.000%, 01/01/34		53
	43		7.000%, 04/01/26 - 02/01/37		52
	4		7.500%, 08/01/25		5
	4		8.000%, 07/01/20 - 11/01/24		5
	13		8.500%, 07/01/28		16
	128		Federal Home Loan Mortgage Corp. Gold Pools, FHA/VA, 10.000%, 10/01/30		140
			Federal Home Loan Mortgage Corp. Gold Pools, Other,
	2,268		3.500%, 05/01/33 - 05/01/43		2,419
	377		4.000%, 06/01/42		407
	72		6.000%, 02/01/33		81
			Federal National Mortgage Association,
	1		ARM, 2.242%, 03/01/19		1
	176		ARM, 2.320%, 01/01/35		187
	66		ARM, 2.364%, 11/01/33		70
	94		ARM, 2.376%, 09/01/36		99
	157		ARM, 2.382%, 09/01/34		166
	45		ARM, 2.386%, 02/01/37		47
	101		ARM, 2.395%, 01/01/35		106
	125		ARM, 2.403%, 09/01/35		131
	135		ARM, 2.416%, 09/01/35		140
	146		ARM, 2.470%, 02/01/35		152
	62		ARM, 2.483%, 02/01/35		66
	75		ARM, 2.500%, 08/01/35		79
	6		ARM, 2.585%, 09/01/27		7
	61		ARM, 2.603%, 08/01/36		64
	112		ARM, 2.606%, 08/01/34		119
	—	(h)	ARM, 2.625%, 08/01/19		—	(h)
	122		ARM, 2.685%, 09/01/33		131
	98		ARM, 2.735%, 04/01/33		104
	77		ARM, 2.762%, 04/01/35		81
	104		ARM, 2.791%, 10/01/34		110
	177		ARM, 2.882%, 02/01/37		187
	95		ARM, 3.066%, 07/01/46		101
	178		ARM, 3.375%, 02/01/36		188
	4		ARM, 3.824%, 03/01/29		4
			Federal National Mortgage Association, 15 Year, Single Family,
	18		4.000%, 05/01/19		18
	83		4.500%, 05/01/18 - 05/01/19		85

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	111	5.000%, 06/01/18 - 04/01/19		115
	59	5.500%, 01/01/20 - 06/01/20		61
	144	6.000%, 03/01/21 - 01/01/24		156
	13	6.500%, 03/01/17 - 08/01/20		13
	57	Federal National Mortgage Association, 20 Year, Single Family, 6.500%, 05/01/22		65
		Federal National Mortgage Association, 30 Year, FHA/VA,
	12	6.000%, 09/01/33		13
	18	6.500%, 03/01/29		21
	4	8.500%, 02/01/30		4
	3	9.000%, 12/01/30		3
	2	9.500%, 12/01/18		2
		Federal National Mortgage Association, 30 Year, Single Family,
	1,463	3.500%, 06/01/43		1,547
	42	4.500%, 08/01/33		46
	692	5.000%, 07/01/33 - 08/01/40		777
	73	5.500%, 12/01/33		84
	318	6.000%, 12/01/32 - 09/01/37		369
	29	6.500%, 08/01/31		34
	4	7.000%, 09/01/27 - 08/01/32		4
	7	7.500%, 11/01/22 - 10/01/24		8
	277	8.000%, 03/01/21 - 11/01/32		344
	4	8.500%, 07/01/24 - 05/01/25		5
	2	10.000%, 02/01/24		2
		Federal National Mortgage Association, Other,
	977	ARM, 1.255%, 12/01/25		976
	466	1.940%, 01/01/17		466
	969	2.220%, 12/01/22		995
	485	2.240%, 12/01/22		498
	642	2.395%, 01/01/22		665
	1,000	2.760%, 05/01/21		1,048
	1,781	2.766%, 06/01/23		1,874
	1,000	2.790%, 05/01/27		1,047
	1,000	3.030%, 04/01/27		1,072
	1,500	3.100%, 09/01/25		1,617
	1,000	3.110%, 12/01/24		1,076
	1,000	3.240%, 12/01/26		1,086
	1,000	3.290%, 08/01/26		1,092
	500	3.340%, 02/01/27		547
	1,000	3.380%, 12/01/23		1,095
	1,000	3.540%, 10/01/20		1,074
	2,259	3.590%, 12/01/20		2,431
	1,488	3.760%, 10/01/23 - 11/01/23		1,661
	707	4.000%, 07/01/42		765

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 91

JPMorgan Intermediate Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

(Amounts in thousands)

PRINCIPAL AMOUNT($)			SECURITY DESCRIPTION	VALUE($)
	Mortgage Pass-Through Securities — continued
	1,008		4.160%, 03/01/21		1,108
	334		4.263%, 06/01/21		367
	763		4.300%, 04/01/21		846
	481		4.390%, 05/01/21		534
	41		5.500%, 04/01/38		44
	73		6.000%, 03/01/37		82
			Government National Mortgage Association II, 30 Year, Single Family,
	183		6.000%, 03/20/28 - 09/20/38		210
	8		7.500%, 02/20/28 - 09/20/28		10
	23		8.000%, 12/20/25 - 08/20/28		27
	13		8.500%, 03/20/25 - 05/20/25		15
	1		Government National Mortgage Association, 15 Year, Single Family, 6.000%, 10/15/17		1
			Government National Mortgage Association, 30 Year, Single Family,
	223		6.000%, 11/15/28 - 12/15/38		256
	203		6.500%, 01/15/24 - 12/15/35		238
	196		7.000%, 08/15/23 - 06/15/35		228
	15		7.500%, 11/15/22 - 09/15/28		16
	2		8.000%, 07/15/22 - 08/15/28		2
	—	(h)	8.500%, 11/15/17		—	(h)
	4		9.000%, 02/15/20 - 11/15/24		4
	46		9.500%, 09/15/18 - 12/15/25		50
	572		Government National Mortgage Association, Other, 3.500%, 11/20/33		610
			Total Mortgage Pass-Through Securities (Cost $34,522)		36,440
	Supranational — 0.0% (g)
	150		African Development Bank, 8.800%, 09/01/19 (Cost $174)		181
	U.S. Government Agency Securities — 2.3%
			Federal National Mortgage Association,
	1,000		Zero Coupon, 06/01/17		995
	800		5.000%, 05/11/17		825
			Financing Corp. STRIPS,
	1,440		1.559%, 05/11/18 (n)		1,419
	584		3.473%, 09/26/19 (n)		564
			Residual Funding Corp. STRIPS,
	500		1.199%, 01/15/21 (n)		470
	250		1.561%, 10/15/19 (n)		241
	1,950		1.871%, 07/15/20 (n)		1,849
	1,000		Tennessee Valley Authority, 5.500%, 07/18/17		1,042
	333		Tennessee Valley Authority STRIPS, 4.322%, 05/01/19 (n)		321
			Total U.S. Government Agency Securities (Cost $7,584)		7,726

PRINCIPAL AMOUNT($)		SECURITY DESCRIPTION	VALUE($)
	U.S. Treasury Obligations — 22.5%
		U.S. Treasury Coupon STRIPS,
	2,650	1.638%, 11/15/19 (n)		2,562
	3,825	2.046%, 08/15/23 (n)		3,443
	200	2.080%, 05/15/24 (n)		177
	2,150	2.165%, 11/15/23 (n)		1,924
	2,985	2.178%, 02/15/20 (n)		2,878
	200	2.197%, 05/15/26 (n)		170
	3,000	2.303%, 02/15/24 (n)		2,674
	10	2.312%, 05/15/28 (n)		8
	3,275	2.361%, 02/15/21 (n)		3,100
	750	2.481%, 05/15/23 (n)		678
	300	2.505%, 02/15/27 (n)		250
	8,275	2.555%, 08/15/21 (n)		7,761
	2,400	2.590%, 02/15/22 (n)		2,231
	1,300	2.611%, 11/15/22 (n)		1,189
	1,495	2.677%, 05/15/19 (n)		1,457
	200	2.695%, 05/15/25 (n)		174
	5,495	2.736%, 02/15/23 (n)		4,999
	53	2.825%, 02/15/28 (n)		43
	1,000	2.875%, 08/15/22 (n)		920
	200	2.976%, 08/15/28 (n)		161
	1,224	3.085%, 02/15/17 (n)		1,221
	47	3.217%, 08/15/26 (n)		40
	300	3.338%, 11/15/26 (n)		252
	4,848	3.506%, 05/15/20 (n)		4,654
	100	3.540%, 08/15/27 (n)		82
	140	3.571%, 11/15/27 (n)		114
	1,525	3.632%, 11/15/21 (n)		1,424
	400	5.542%, 11/15/16 (n)		400
		U.S. Treasury Notes,
	15,000	2.000%, 02/15/25		15,543
	14,000	2.000%, 08/15/25		14,501
	700	2.375%, 08/15/24		745
		Total U.S. Treasury Obligations (Cost $72,786)		75,775
SHARES
	Short-Term Investment — 2.9%
		Investment Company — 2.9%
	9,876	JPMorgan Prime Money Market Fund, Institutional Class Shares, 0.360% (b) (l) (Cost $9,876)		9,876
		Total Investments — 101.9% (Cost $331,574)		343,690
		Liabilities in Excess of Other Assets — (1.9)%		(6,557	)
		NET ASSETS — 100.0%	$	337,133

Percentages indicated are based on net assets.

SEE NOTES TO FINANCIAL STATEMENTS.

92 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

JPMorgan Institutional Trust Funds

NOTES TO SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF AUGUST 31, 2016 (Unaudited)

ACES	—  Alternative Credit Enhancement Securities
ARM	—  Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of August 31, 2016.
CMBS	—  Commercial Mortgage-Backed Security
CMO	—  Collateralized Mortgage Obligation
CSMC	—  Credit Suisse Mortgage Trust
CVR	—  Contingent Value Rights
ESOP	—  Employee Stock Ownership Program
ETF	—  Exchange Traded Fund
FHA	—  Federal Housing Administration
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 August 31, 2016. The rate may be subject to a cap and floor.
IO	—  Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.
PO	—  Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases.
REMIC	—  Real Estate Mortgage Investment Conduit
Rev.	—  Revenue
SPDR	—  Standard & Poor’s Depositary Receipts

STRIPS	—  Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.
SUB	—  Step-Up Bond. The interest rate shown is the rate in effect as of August 31, 2016.
USD	—  United States Dollar
VA	—  Veterans Administration
VAR	—  Variable Rate Security. The interest rate shown is the rate in effect as of August 31, 2016.
(a)	—  Non-income producing security.
(b)	—  Investment in affiliate. Money market fund is 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 0.05%
(h)	—  Amount rounds to less than 500.
(k)	—  All or a portion of this security is deposited with the broker as initial margin for future contracts.
(l)	—  The rate shown is the current yield as of August 31, 2016.
(n)	—  The rate shown is the effective yield at the date of purchase.
(q)	—  Investment in affiliate which is a security in the Fund’s index.
(t)	—  The date shown represents the earliest of the prerefunded date, next put date, or final maturity date.
(x)	—  Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of August 31, 2016.
1	—  Security matures in 2110.
2	—  Security matures in 2115.
3	—  Security matures in 2105.
4	—  Security matures in 2111.
5	—  Security matures in 2114.

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 93

STATEMENTS OF ASSETS AND LIABILITIES

AS OF AUGUST 31, 2016 (Unaudited)

(Amounts in thousands, except per share amounts)

	Core Bond Trust			Equity Index Trust			Intermediate Bond Trust
ASSETS:
Investments in non-affiliates, at value	$	3,723,396		$	282,910		$	333,814
Investments in affiliates, at value		5,825			8,289			9,876
Total investment securities, at value		3,729,221			291,199			343,690
Cash		—			—	(a)		—
Receivables:
Investment securities sold		1,385			49			32,741
Fund shares sold		5,139			—			—
Interest and dividends from non-affiliates		16,049			659			1,116
Dividends from affiliates		8			—	(a)		1
Prepaid expenses and other assets		96			1			6
Total Assets		3,751,898			291,908			377,554
LIABILITIES:
Payables:
Due to custodian		13			—			5
Investment securities purchased		2,603			—			319
Fund shares redeemed		361			—			40,000
Variation margin on futures contracts		—			13			—
Accrued liabilities:
Investment advisory fees		431			12			24
Custodian and accounting fees		76			7			35
Trustees’ and Chief Compliance Officer’s fees		—	(a)		—	(a)		1
Audit fees		56			28			35
Other		51			3			2
Total Liabilities		3,591			63			40,421
Net Assets	$	3,748,307		$	291,845		$	337,133
Paid-in-Capital	$	3,510,860		$	137,168		$	321,172
Accumulated undistributed (distributions in excess of) net investment income		292			1,330			18
Accumulated net realized gains (losses)		27,615			(3,917	)		3,827
Net unrealized appreciation (depreciation)		209,540			157,264			12,116
Total Net Assets	$	3,748,307		$	291,845		$	337,133
Outstanding units of beneficial interest (shares)
($0.0001 par value; unlimited number of shares authorized):		347,573			12,577			32,210
Net asset value, offering and redemption price per share (b)	$	10.78		$	23.21		$	10.47
Cost of investments in non-affiliates	$	3,513,856		$	127,519		$	321,698
Cost of investments in affiliates		5,825			6,459			9,876

(a) Amount rounds to less than 500.

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

SEE NOTES TO FINANCIAL STATEMENTS.

94 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

STATEMENTS OF OPERATIONS

FOR THE SIX MONTHS ENDED AUGUST 31, 2016 (Unaudited)

(Amounts in thousands)

	Core Bond Trust			Equity Index Trust			Intermediate Bond Trust
INVESTMENT INCOME:
Interest income from non-affiliates	$	68,264		$	—	(a)	$	5,849
Dividend income from non-affiliates		—			3,146			—
Dividend income from affiliates		205			57			13
Total investment income		68,469			3,203			5,862
EXPENSES:
Investment advisory fees		6,314			364			592
Administration fees		2,105			145			197
Custodian and accounting fees		156			13			76
Professional fees		77			25			32
Trustees’ and Chief Compliance Officer’s fees		14			10			12
Printing and mailing costs		15			1			3
Transfer agency fees		18			1			2
Other		66			8			9
Total expenses		8,765			567			923
Less fees waived		(5,717	)		(423	)		(635	)
Net expenses		3,048			144			288
Net investment income (loss)		65,421			3,059			5,574
REALIZED/UNREALIZED GAINS (LOSSES):
Net realized gain (loss) on transactions from:
Investments in non-affiliates		24,517			10,513			3,382
Investments in affiliates		—			101			—
Futures		—			252			—
Net realized gain (loss)		24,517			10,866			3,382
Change in net unrealized appreciation/depreciation on:
Investments in non-affiliates		59,884			21,937			604
Investments in affiliates		—			551			—
Futures		—			18			—
Unfunded commitments		1			—			—
Change in net unrealized appreciation/depreciation		59,885			22,506			604
Net realized/unrealized gains (losses)		84,402			33,372			3,986
Change in net assets resulting from operations	$	149,823		$	36,431		$	9,560

(a) Amount rounds to less than 500.

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 95

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE PERIODS INDICATED

(Amounts in thousands)

	Core Bond Trust						Equity Index Trust
	Six Months Ended August 31, 2016 (Unaudited)			Year Ended February 29, 2016			Six Months Ended August 31, 2016 (Unaudited)			Year Ended February 29, 2016
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	65,421		$	131,867		$	3,059		$	6,632
Net realized gain (loss)		24,517			12,075			10,866			35,301
Change in net unrealized appreciation/depreciation		59,885			(46,534	)		22,506			(60,840	)
Change in net assets resulting from operations		149,823			97,408			36,431			(18,907	)
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income		(66,344	)		(135,958	)		(2,691	)		(6,719	)
From net realized gains		—			(10,096	)		(2,904	)		(31,146	)
Total distributions to shareholders		(66,344	)		(146,054	)		(5,595	)		(37,865	)
CAPITAL TRANSACTIONS:
Proceeds from shares issued		352,751			810,370			436			9,366
Distributions reinvested		61,646			138,032			5,433			37,865
Cost of shares redeemed		(960,175	)		(670,162	)		(20,812	)		(81,120	)
Change in net assets resulting from capital transactions		(545,778	)		278,240			(14,943	)		(33,889	)
NET ASSETS:
Change in net assets		(462,299	)		229,594			15,893			(90,661	)
Beginning of period		4,210,606			3,981,012			275,952			366,613
End of period	$	3,748,307		$	4,210,606		$	291,845		$	275,952
Accumulated undistributed (distributions in excess of) net investment income	$	292		$	1,215		$	1,330		$	962
SHARE TRANSACTIONS:
Issued		33,235			76,020			20			384
Reinvested		5,758			13,089			240			1,719
Redeemed		(89,554	)		(63,554	)		(923	)		(3,262	)
Change in Shares		(50,561	)		25,555			(663	)		(1,159	)

SEE NOTES TO FINANCIAL STATEMENTS.

96 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

	Intermediate Bond Trust
	Six Months Ended August 31, 2016 (Unaudited)			Year Ended February 29, 2016
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS:
Net investment income (loss)	$	5,574		$	11,279
Net realized gain (loss)		3,382			916
Change in net unrealized appreciation/depreciation		604			(1,454	)
Change in net assets resulting from operations		9,560			10,741
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income		(5,604	)		(11,609	)
From net realized gains		—			(628	)
Total distributions to shareholders		(5,604	)		(12,237	)
CAPITAL TRANSACTIONS:
Proceeds from shares issued		1,107			117,431
Distributions reinvested		5,183			11,334
Cost of shares redeemed		(126,126	)		(51,605	)
Change in net assets resulting from capital transactions		(119,836	)		77,160
NET ASSETS:
Change in net assets		(115,880	)		75,664
Beginning of period		453,013			377,349
End of period	$	337,133		$	453,013
Accumulated undistributed (distributions in excess of) net investment income	$	18		$	48
SHARE TRANSACTIONS:
Issued		106			11,315
Reinvested		497			1,097
Redeemed		(12,096	)		(4,998	)
Change in Shares		(11,493	)		7,414

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 97

FINANCIAL HIGHLIGHTS

FOR THE PERIODS INDICATED

	Per share operating performance
			Investment operations									Distributions
	Net asset value, beginning of period		Net investment income (loss)			Net realized and unrealized gains (losses) on investments			Total from investment operations			Net investment income			Net realized gain			Return of capital			Total distributions
Core Bond Trust
Six Months Ended August 31, 2016 (Unaudited)	$	10.58	$	0.17	(f)	$	0.20		$	0.37		$	(0.17	)	$	—		$	—		$	(0.17	)
Year Ended February 29, 2016		10.69		0.32	(f)		(0.07	)		0.25			(0.33	)		(0.03	)		—			(0.36	)
Year Ended February 28, 2015		10.57		0.36			0.15			0.51			(0.36	)		(0.03	)		—			(0.39	)
Year Ended February 28, 2014		10.89		0.38			(0.32	)		0.06			(0.37	)		(0.01	)		—			(0.38	)
Year Ended February 28, 2013		10.82		0.43			0.08			0.51			(0.43	)		(0.01	)		—			(0.44	)
Year Ended February 29, 2012		10.50		0.50			0.35			0.85			(0.51	)		(0.02	)		—			(0.53	)
Equity Index Trust
Six Months Ended August 31, 2016 (Unaudited)		20.84		0.24	(f)		2.57			2.81			(0.21	)		(0.23	)		—			(0.44	)
Year Ended February 29, 2016		25.46		0.53	(f)		(2.02	)		(1.49	)		(0.52	)		(2.61	)		—			(3.13	)
Year Ended February 28, 2015		22.49		0.48			2.95			3.43			(0.46	)		—			—			(0.46	)
Year Ended February 28, 2014		18.32		0.42			4.15			4.57			(0.40	)		—			—			(0.40	)
Year Ended February 28, 2013		16.53		0.38			1.79			2.17			(0.38	)		—			—			(0.38	)
Year Ended February 29, 2012		16.10		0.31			0.46			0.77			(0.34	)		—			—			(0.34	)
Intermediate Bond Trust
Six Months Ended August 31, 2016 (Unaudited)		10.37		0.15	(f)		0.10			0.25			(0.15	)		—			—			(0.15	)
Year Ended February 29, 2016		10.40		0.26	(f)		(0.01	)		0.25			(0.27	)		(0.01	)		—			(0.28	)
Year Ended February 28, 2015		10.41		0.30			0.04			0.34			(0.30	)		(0.05	)		—			(0.35	)
Year Ended February 28, 2014		10.68		0.32			(0.26	)		0.06			(0.32	)		(0.01	)		—			(0.33	)
Year Ended February 28, 2013		10.63		0.36			0.04			0.40			(0.35	)		—			—			(0.35	)
Year Ended February 29, 2012		10.38		0.43			0.38			0.81			(0.47	)		(0.06	)		(0.03	)		(0.56	)

(a) Annualized for periods less than one year, unless otherwise noted.

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

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

(d) Includes earnings credits and interest expense, if applicable, each of which is less than 0.005% unless otherwise noted.

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

(f) Calculated based upon average shares outstanding.

SEE NOTES TO FINANCIAL STATEMENTS.

98 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

		Ratios/Supplemental data
							Ratios to average net assets (a)
Net asset value, end of period		Total return (b)(c)			Net assets, end of period (000’s)		Net expenses (d)			Net investment income (loss)			Expenses without waivers, reimbursements and earnings credits			Portfolio turnover rate (b)(e)
$	10.78		3.52	%	$	3,748,307		0.14	%		3.10	%		0.42	%		11	%
	10.58		2.35			4,210,606		0.14			3.03			0.42			22
	10.69		4.88			3,981,012		0.14			3.36			0.42			19
	10.57		0.58			3,865,134		0.14			3.60			0.42			18
	10.89		4.70			3,713,768		0.15			3.97			0.42			16
	10.82		8.24			3,458,321		0.15			4.66			0.42			21
$	23.21		13.55	%	$	291,845		0.10	%		2.10	%		0.39	%		2	%
	20.84		(6.24	)		275,952		0.10			2.19			0.39			5
	25.46		15.38			366,613		0.10			1.97			0.39			4
	22.49		25.21			367,378		0.10			2.01			0.38			5
	18.32		13.34			323,335		0.10			2.22			0.38			7
	16.53		4.97			301,098		0.10			2.03			0.38			8
$	10.47		2.41	%	$	337,133		0.15	%		2.82	%		0.47	%		10	%
	10.37		2.47			453,013		0.14			2.53			0.46			27
	10.40		3.29			377,349		0.14			2.90			0.47			25
	10.41		0.53			348,655		0.14			3.07			0.46			17
	10.68		3.76			377,951		0.14			3.33			0.47			15
	10.63		7.98			361,305		0.14			4.05			0.48			35

SEE NOTES TO FINANCIAL STATEMENTS.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 99

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2016 (Unaudited)

1. Organization

JPMorgan Institutional Trust (the “Trust”) was organized on September 14, 2004 as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. Three separate diversified series of the Trust (collectively, the “Funds”) covered by this report commenced operations on February 7, 2005: Core Bond Trust, Equity Index Trust and Intermediate Bond Trust. As of September 1, 2016, Equity Index Trust no longer accepts purchases of fund shares. See Note 8.

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

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

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

J.P. Morgan Investment Management Inc. (“JPMIM”) an indirect, wholly-owned subsidiary of JPMorgan Chase & Co. (“JPMorgan”) acts as Adviser (the “Adviser”) and Administrator (the “Administrator”) to the Funds. Prior to April 1, 2016, JPMorgan Funds Management, Inc. (“JPMFM”) served as the Funds’ administrator. Effective April 1, 2016, JPMFM merged into JPMIM and JPMIM became the Funds’ Administrator under the Administration Agreement.

2. Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements. The Funds are investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946 — Investment Companies, which is part of U.S. generally accepted accounting principles (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

A. Valuation of Investments — The valuation of investments is in accordance with GAAP and the Funds’ 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.

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 Funds’ investments. The Administrator implements the valuation policies of the Funds’ investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Funds. 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 Funds’ 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 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 Funds 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.

100 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

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 Core Bond Trust and Intermediate Bond Trust at August 31, 2016.

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 Funds’ 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 Funds’ 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 tables represent each valuation input as presented on the Schedules of Portfolio Investments (“SOIs”) (amounts in thousands):

Core Bond Trust

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	268,846	$	145,188	$	414,034
Collateralized Mortgage Obligations
Agency CMO		—		484,111		—		484,111
Non-Agency CMO		—		121,994		25,989		147,983
Total Collateralized Mortgage Obligations		—		606,105		25,989		632,094
Commercial Mortgage-Backed Securities		—		78,475		12,808		91,283
Corporate Bonds
Consumer Discretionary		—		62,423		—		62,423
Consumer Staples		—		53,185		—		53,185
Energy		—		94,503		—		94,503
Financials		—		369,731		—		369,731
Health Care		—		53,506		—		53,506
Industrials		—		67,783		—		67,783
Information Technology		—		45,779		—		45,779
Materials		—		24,931		—		24,931
Real Estate		—		21,767		—		21,767
Telecommunication Services		—		58,088		—		58,088
Utilities		—		76,586		—		76,586
Total Corporate Bonds		—		928,282		—		928,282
Foreign Government Securities		—		50,352		—		50,352
Mortgage Pass-Through Securities		—		672,137		—		672,137
Municipal Bonds		—		11,718		—		11,718
Preferred Security Financials		—		536		—		536
Supranational		—		3,622		—		3,622
U.S. Government Agency Securities		—		95,610		—		95,610
U.S. Treasury Obligations		—		817,408		—		817,408
Loan Assignment
Consumer Discretionary		—		6,320		—		6,320
Short-Term Investment
Investment Company		5,825		—		—		5,825
Total Investments in Securities	$	5,825	$	3,539,411	$	183,985	$	3,729,221

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 101

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

Equity Index Trust
	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs			Total
Investments in Securities
Common Stocks
Consumer Discretionary	$	34,971	$	—	$	—		$	34,971
Consumer Staples		28,759		—		—			28,759
Energy		20,049		—		—			20,049
Financials		37,874		—		—			37,874
Health Care		41,866		—		—			41,866
Industrials		28,462		—		—			28,462
Information Technology		60,041		—		—			60,041
Materials		8,358		—		—			8,358
Real Estate		8,852		—		—			8,852
Telecommunication Services		7,599		—		—			7,599
Utilities		9,265		—		—			9,265
Total Common Stocks		286,096		—		—			286,096
Exchange Traded Fund		326		—		—			326
Rights
Consumer Staples		—		—		—	(a)		—	(a)
Short-Term Investments
Investment Company		4,537		—		—			4,537
U.S. Treasury Obligation		—		240		—			240
Total Investments in Securities	$	290,959	$	240	$	—	(a)	$	291,199
Appreciation in Other Financial Instruments
Futures Contracts	$	43	$	—	$	—		$	43
Intermediate Bond Trust
	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs			Total
Investments in Securities
Debt Securities
Asset-Backed Securities	$	—	$	35,583	$	11,716		$	47,299
Collateralized Mortgage Obligations
Agency CMO		—		67,222		—			67,222
Non-Agency CMO		—		7,655		889			8,544
Total Collateralized Mortgage Obligations		—		74,877		889			75,766
Commercial Mortgage-Backed Securities		—		6,167		1,007			7,174
Corporate Bonds
Consumer Discretionary		—		3,351		—			3,351
Consumer Staples		—		4,323		—			4,323
Energy		—		7,507		—			7,507
Financials		—		37,625		—			37,625
Health Care		—		3,298		—			3,298
Industrials		—		4,957		—			4,957
Information Technology		—		4,124		—			4,124
Materials		—		1,937		—			1,937
Real Estate		—		2,001		—			2,001
Telecommunication Services		—		4,592		—			4,592
Utilities		—		5,506		—			5,506
Total Corporate Bonds		—		79,221		—			79,221

102 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

Intermediate Bond Trust (continued)
	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Foreign Government Securities	$	—	$	4,232	$	—	$	4,232
Mortgage Pass-Through Securities		—		36,440		—		36,440
Supranational		—		181		—		181
U.S. Government Agency Securities		—		7,726		—		7,726
U.S. Treasury Obligations		—		75,775		—		75,775
Short-Term Investment
Investment Company		9,876		—		—		9,876
Total Investments in Securities	$	9,876	$	320,202	$	13,612	$	343,690

(a) Amount rounds to less than 500.

Transfers between fair value levels are valued utilizing values as of the beginning of the period.

For each of the Funds, there were no transfers between levels 1 and 2 during the six months ended August 31, 2016.

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

Core Bond Trust	Balance as of February 29, 2016		Realized gain (loss)		Change in net unrealized appreciation (depreciation)			Net accretion (amortization)			Purchases1		Sales2			Transfers into Level 3		Transfers out of Level 3			Balance as of August 31, 2016
Investments in Securities:
Asset-Backed Securities	$	44,464	$	—	$	1,556		$	(251	)	$	17,232	$	(22,080	)	$	107,464	$	(3,197	)	$	145,188
Collateralized Mortgage Obligations — Non-Agency CMO		21,277		—		(792	)		184			4,577		(2,636	)		6,758		(3,379	)		25,989
Commercial Mortgage-Backed Securities		14,849		—		(185	)		(665	)		—		(1,191	)		—		—			12,808
Loan Assignment — Financials		1,143		—		6			—	(a)		111		(1,260	)		—		—			—
	$	81,733	$	—	$	585		$	(732	)	$	21,920	$	(27,167	)	$	114,222	$	(6,576	)	$	183,985
Intermediate Bond Trust	Balance as of February 29, 2016		Realized gain (loss)		Change in net unrealized appreciation (depreciation)			Net accretion (amortization)			Purchases1		Sales2			Transfers into Level 3		Transfers out of Level 3			Balance as of August 31, 2016
Investments in Securities:
Asset-Backed Securities	$	1,988	$	—	$	116		$	—	(a)	$	1,034	$	(1,569	)	$	10,147	$	—		$	11,716
Collateralized Mortgage Obligations — Non-Agency CMO		559		—		(9	)		10			499		(120	)		—		(50	)		889
Commercial Mortgage-Backed Securities		1,129		—		(6	)		(28	)		—		(88	)		—		—			1,007
	$	3,676	$	—	$	101		$	(18	)	$	1,533	$	(1,777	)	$	10,147	$	(50	)	$	13,612

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

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

(a) Amount rounds to less than 500.

Transfers between level 2 and level 3 are due to a decline or an increase in market activity (e.g. frequency of trades), which resulted in a lack or increase of available market inputs to determine the price for the period ended August 31, 2016.

The change in net unrealized appreciation (depreciation) attributable to securities owned at August 31, 2016, which were valued using significant unobservable inputs (level 3) were as follows (amounts in thousands):

	Value
Core Bond Trust	$	998
Intermediate Bond Trust		104

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 103

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

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

Core Bond Trust

Quantitative Information about Level 3 Fair Value Measurements #

(Amounts in thousands)

	Fair Value at August 31, 2016		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
	$	109,066	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 30.00% (3.77%)
				Constant Default Rate		0.00% - 50.00% (11.95%)
				Yield (Discount Rate of Cash Flows)		2.06% - 25.00% (4.07%)
Asset-Backed Securities		109,066
		20,985	Discounted Cash Flow	Constant Prepayment Rate		1.00% - 37.14% (11.41%)
				Constant Default Rate		0.00% - 9.64% (3.59%)
				Yield (Discount Rate of Cash Flows)		0.61% - 142.13% (6.34%)
Collateralized Mortgage Obligations		20,985
		7,406	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 100.00% (11.58%)
				Yield (Discount Rate of Cash Flows)		-47.05% - 6.91% (4.41%)
Commercial Mortgage-Backed Securities		7,406
Total	$	137,457

# The table above does not include level 3 securities that are valued by brokers and pricing services. At August 31, 2016, the value of these investments was approximately $46,528,000. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2A.

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.

104 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

Intermediate Bond Trust

Quantitative Information about Level 3 Fair Value Measurements #

(Amounts in thousands)

	Fair Value at August 31, 2016		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
	$	7,782	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 30.00% (1.73%)
				Constant Default Rate		0.00% - 50.00% (13.94%)
				Yield (Discount Rate of Cash Flows)		2.07% - 7.53% (3.57%)
Asset-Backed Securities		7,782
		869	Discounted Cash Flow	Constant Prepayment Rate		4.00% - 25.00% (12.82%)
				Constant Default Rate		0.00% - 7.51% (1.07%)
				Yield (Discount Rate of Cash Flows)		1.53% - 142.13% (4.64%)
Collateralized Mortgage Obligations		869
		450	Discounted Cash Flow	Constant Prepayment Rate		0.00 - 100.00% (1.52%)
				Yield (Discount Rate of Cash Flows)		0.97% - 6.91% (5.03%)
Commercial Mortgage-Backed Securities		450
Total	$	9,100

# The table above does not include level 3 securities that are valued by brokers and pricing services. At August 31, 2016, the value of these investments was approximately $4,512,000. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally those inputs described in Note 2A.

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.

B. Restricted Securities — Certain securities held by the Funds may be subject to legal or contractual restrictions on resale. Restricted securities generally are resold in transactions exempt from registration under the Securities Act of 1933 (the “Securities Act”). Disposal of these securities may involve time-consuming negotiations and expense. Prompt sale at the current valuation may be difficult and could adversely affect the net assets of the Funds.

As of August 31, 2016, the Funds had no investments in restricted securities other than securities sold to the Funds under Rule 144A and/or Regulation S under the Securities Act.

C. When Issued, Delayed Delivery Securities and Forward Commitments — Core Bond Trust and Intermediate Bond Trust purchased when issued securities, including To Be Announced (“TBA”) securities, and entered into contracts to purchase or sell securities for a fixed price that may be settled a month or more after the trade date, or purchased delayed delivery securities which generally settle seven days after the trade date. When issued securities are securities that have been authorized, but not issued in the market. A forward commitment involves entering into a contract to purchase or sell securities for a fixed price at a future date that may be settled a month or more after the trade date. A delayed delivery security is agreed upon in advance between the buyer and the seller of the security and is generally delivered beyond seven days of the agreed upon date. The purchase of securities on a when issued, delayed delivery, or forward commitment basis involves the risk that the value of the security to be purchased declines before settlement date. The sale of securities on a forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. The Funds may be exposed to credit risk if the counterparty fails to perform under the terms of the transaction. Interest income for securities purchased on a when issued, delayed delivery, or forward commitment basis is not accrued until settlement date.

The Funds did not have forward commitments nor delayed delivery securities outstanding as of August 31, 2016.

D. Loan Assignments — Core Bond Trust and Intermediate Bond Trust may invest in debt instruments that are interests in amounts owed to lenders or lending syndicates (a “Lender”) by corporate, governmental, or other borrowers (a “Borrower”). A loan is often administered by a bank or other financial institution (the “Agent”) that acts as Agent for all holders. The Agent administers the terms of the loan, as specified in the loan agreement. The Funds invest in loan assignments of all or a portion of the loans. When a fund purchases a loan assignment, the fund has direct rights against the Borrower on a loan, provided, however, the fund’s rights may be more limited than the Lender from which it acquired the assignment and the fund may be able to enforce its rights only through the Agent. As a result, a fund assumes the credit risk of the Borrower as well as any other persons interpositioned between the fund and the Borrower (“Intermediate Participants”). A fund may incur certain costs and delays in realizing payment on a loan assignment or suffer a loss of principal and/or interest if assets or interests held by the Agent or other Intermediate Participants are

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 105

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

determined to be subject to the claims of the Agent’s or other Intermediate Participant’s creditors. In addition, it is unclear whether loan assignments and other forms of direct indebtedness offer securities law protections against fraud and misrepresentation. Also, because JPMIM may wish to invest in publicly traded securities of a Borrower, it may not have access to material non-public information regarding the Borrower to which other investors have access. Although certain loan assignments are secured by collateral, a fund could experience delays or limitations in realizing the value on such collateral or have its interest subordinated to other indebtedness of the Borrower. Loan assignments are vulnerable to market conditions such that economic conditions or other events may reduce the demand for assignments and certain assignments which were liquid, when purchased, may become illiquid and they may be difficult to value. In addition, the settlement period for loans is uncertain as there is no standardized settlement schedule applicable to such investments. Therefore, a fund may not receive the proceeds from a sale of such investments for a period after the sale.

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

At August 31, 2016, the Fund did not have any outstanding unfunded loan commitments.

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

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

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

The table below discloses the volume of Equity Index Trust’s futures contracts activity during the six months ended August 31, 2016 (amounts in thousands):

	Equity Index Trust
Futures Contracts:
Average Notional Balance Long	$	2,483	(a)
Ending Notional Balance Long		4,773

(a) For the period March 1, 2016 through August 31, 2016.

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).

106 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

G. Investment Transactions with Affiliates — An issuer which is under common control with the Funds may be considered an affiliate. For the purposes of the financial statements, the Funds assume the issuers listed in the table below to be affiliated issuers (amounts in thousands).

Affiliate	Value at February 29, 2016		Purchase Cost		Sales Proceeds		Realized Gain/(Loss)		Dividend/ Interest Income			Shares at August 31, 2016		Value at August 31, 2016
Core Bond Trust
JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares	$	124,518	$	667,040	$	791,558	$	—	$	200			—	$	—
JPMorgan Prime Money Market Fund, Institutional Class Shares		—		112,396		106,571		—		5			5,825		5,825
	$	124,518	$	779,436	$	898,129	$	—	$	205			5,825	$	5,825
Equity Index Trust
JPMorgan Chase & Co. (common stock)*	$	3,345	$	11	$	256	$	101	$	54			56	$	3,752
JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares		1,641		9,178		10,819		—		3			—		—
JPMorgan U.S. Government Money Market Fund, Institutional Class Shares		—		4,644		107		—		—	(a)		4,537		4,537
	$	4,986	$	13,833	$	11,182	$	101	$	57			4,593	$	8,289
Intermediate Bond Trust
JPMorgan Liquid Assets Money Market Fund, Institutional Class Shares	$	26,357	$	33,774	$	60,131	$	—	$	12			—	$	—
JPMorgan Prime Money Market Fund, Institutional Class Shares		—		9,876		—		—		1			9,876		9,876
	$	26,357	$	43,650	$	60,131	$	—	$	13			9,876	$	9,876

(a) Amount rounds to less than 500.

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

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

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

J. Federal Income Taxes — Each Fund is treated as a separate taxable entity for Federal income tax purposes. Each Fund’s policy is to comply with the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), applicable to regulated investment companies and to distribute to shareholders all of its distributable net investment income and net realized capital gains on investments. Accordingly, no provision for Federal income tax is necessary. Management has reviewed the Funds’ tax positions for all open tax years and has determined that as of August 31, 2016, no liability for income tax is required in the Funds’ financial statements for net unrecognized tax benefits. However, management’s conclusions may be subject to future review based on changes in, or the interpretation of, the accounting standards or tax laws and regulations. Each of the Funds’ Federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service.

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

3. Fees and Other Transactions with Affiliates

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

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

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 107

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

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

Effective September 1, 2016, the investment advisory fee for Equity Index Trust was changed to 0.04%.

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

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

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

C. Custodian and Accounting Fees — JPMCB provides portfolio custody and accounting services to the Funds. For performing these services, the Funds pay JPMCB transaction and asset-based fees that vary according to the number of transactions and positions, plus out-of-pocket expenses. The amounts paid directly to JPMCB by the Funds for custody and accounting services are included in Custodian and accounting fees on the Statements of Operations. Payments to the custodian may be reduced by credits earned by each Fund, based on uninvested cash balances held by the custodian. Such earnings credits, if any, are presented separately on the Statements of Operations.

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

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

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

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

The expense limitation agreements were in effect for the six months ended August 31, 2016, and are in place until at least until June 30, 2017.

For the six months ended August 31, 2016, the Funds’ service providers waived fees and/or reimbursed expenses for each of the Funds as follows (amounts in thousands). None of these parties expect the Funds to repay any such waived fees and/or reimbursed expenses in future years.

	Contractual Waivers
	Investment Advisory		Administration		Total
Core Bond Trust	$	3,502	$	2,105	$	5,607
Equity Index Trust		276		145		421
Intermediate Bond Trust		429		197		626

Additionally, the Funds may invest in one or more money market funds advised by the Adviser or its affiliates (affiliated money market funds). Effective December 29, 2015, the Adviser and Administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market fund on the applicable Funds’ investment in such affiliated money market fund. Prior to December 29, 2015, a portion of the waiver was voluntary.

The amounts of these waivers/reimbursements resulting from investments in these money market funds for the six months ended August 31, 2016 were as follows (amounts in thousands):

Core Bond Trust	$	110
Equity Index Trust		2
Intermediate Bond Trust		9

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

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

108 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

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

During the six months ended August 31, 2016, Core Bond Trust and Intermediate Bond Trust purchased securities from an underwriting syndicate in which the principal underwriter or members of the syndicate are affiliated with the Adviser.

The Funds may use related party broker-dealers. For the six months ended August 31, 2016, the Funds did not incur any brokerage commissions with broker-dealers affiliated with the Adviser.

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

4. Investment Transactions

During the six months ended August 31, 2016, purchases and sales of investments (excluding short-term investments) were as follows (amounts in thousands):

	Purchases (excluding U.S. Government)		Sales (excluding U.S. Government)		Purchases of U.S. Government		Sales of U.S. Government
Core Bond Trust	$	307,600	$	510,482	$	125,976	$	387,684
Equity Index Trust		6,293		26,478		—		—
Intermediate Bond Trust		11,801		41,521		27,639		96,629

5. Federal Income Tax Matters

For Federal income tax purposes, the cost and unrealized appreciation (depreciation) in value of investment securities held at August 31, 2016 were as follows (amounts in thousands):

	Aggregate Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Net Unrealized Appreciation (Depreciation)
Core Bond Trust	$	3,519,681	$	220,119	$	10,579	$	209,540
Equity Index Trust		133,978		160,126		2,905		157,221
Intermediate Bond Trust		331,574		12,615		499		12,116

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

At February 29, 2016, the Funds did not have any post-enactment net capital loss carryforwards.

At February 29, 2016, the following Fund utilized pre-enactment capital loss carryforwards as follows (amounts in thousands):

Equity Index Trust $ 229

6. Borrowings

Effective August 16, 2016, Core Bond Trust and Intermediate Bond Trust along with certain other trusts (“Borrowers”) entered into a joint syndicated senior unsecured revolving credit facility totaling $1.5 billion (“Credit Facility”) with various lenders and The Bank of New York Mellon, as administrative agent for the lenders. This Credit Facility provides a source of funds to the Borrowers for temporary and emergency purposes, including the meeting of redemption requests that otherwise might require the untimely disposition of securities. Under the terms of the Credit Facility, a borrowing fund must have a minimum of $25,000,000 in adjusted net asset value and not exceed certain adjusted net asset coverage ratios prior to and during the time in which and any borrowings are outstanding. If a fund does not comply with the aforementioned requirements, the Fund must remediate within three business days with respect to the $25,000,000 minimum adjusted net asset value or within one business day with respect to certain asset coverage ratios or the administrative agent at the request of, or with the consent of, the lenders may terminate the Credit Facility and declare any outstanding borrowings to be due and payable immediately.

Interest associated with any borrowing under the Credit Facility is charged to the borrowing fund at a rate of interest equal to 1.00% plus the greater of the federal funds effective rate or one month LIBOR. The annual commitment fee to maintain the Credit Facility is 0.15% and is incurred on the unused portion of the Credit Facility and is allocated to all participating funds pro rata based on their respective net assets. The initial term of the Credit Facility is 364 days, unless extended.

The Funds did not utilize the Credit Facility during the six months ended August 31, 2016.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 109

NOTES TO FINANCIAL STATEMENTS

AS OF AUGUST 31, 2016 (Unaudited) (continued)

7. Risks, Concentrations and Indemnifications

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

As of August 31, 2016, the Equity Index Trust and Intermediate Bond Trust each had two individual shareholder accounts which collectively represented 39.3% and 47.3% of the respective Fund’s net assets. Significant shareholder transactions by these accounts may impact the Funds’ performance.

Risks applicable only to Equity Index Trust:

The Fund may also invest in unaffiliated passively managed ETFs. ETFs are pooled investment vehicles whose ownership interests are purchased and sold on a securities exchange. Passively managed ETFs generally seek to track the performance of a particular market index, including broad-based market indexes, as well as indexes relating to particular sectors, markets, regions or industries. The price movement of an index-based ETF may not track the underlying index and may result in a loss. In addition, ETFs may trade at a price below or above their NAV (also known as a discount or premium, respectively).

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

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

The Funds are subject to interest rate and credit risk. The value of debt securities may decline as interest rates increase. The Funds could lose money if the issuer of a fixed income security is unable to pay interest or repay principal when it is due. The Funds invest in floating rate loans and other floating rate debt securities. Although these investments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate loans and other floating rate investments may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Many factors can cause interest rates to rise. Some examples include central bank monetary policy, rising inflation rates and general economic conditions. Given the historically low interest rate environment, risks associated with rising rates are heightened. The ability of the issuers of debt to meet their obligations may be affected by the economic and political developments in a specific industry or region.

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

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

8. Subsequent Event

At their meeting in August 2016, the Board approved the liquidation of the Equity Index Trust which is expected to occur on or about November 1, 2016.

During the period September 1, 2016 through October 27, 2016, the Intermediate Bond Trust had net redemptions of $81,823,463. This amount represented 24.3% of the Fund’s net assets as of August 31, 2016.

110 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

SCHEDULE OF SHAREHOLDER EXPENSES

(Unaudited)

Hypothetical $1,000 Investment

As a shareholder of the Funds, you incur ongoing costs, including investment advisory fees, administration fees, and other Fund expenses. The examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these ongoing costs with the ongoing costs of investing in other mutual funds. The examples assume that you had a $1,000 investment in the Funds at the beginning of the reporting period, March 1, 2016, and continued to hold your shares at the end of the reporting period, August 31, 2016.

Actual Expenses

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

Hypothetical Example for Comparison Purposes

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

	Beginning Account Value March 1, 2016		Ending Account Value August 31, 2016		Expenses Paid During the Period*		Annualized Expense Ratio
Core Bond Trust
Actual	$	1,000.00	$	1,035.20	$	0.72		0.14	%
Hypothetical		1,000.00		1,024.50		0.71		0.14
Equity Index Trust
Actual		1,000.00		1,135.50		0.54		0.10
Hypothetical		1,000.00		1,024.70		0.51		0.10
Intermediate Bond Trust
Actual		1,000.00		1,024.10		0.77		0.15
Hypothetical		1,000.00		1,024.45		0.77		0.15

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

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 111

BOARD APPROVAL OF INVESTMENT ADVISORY AGREEMENTS

(Unaudited)

The Board of Trustees has established various standing committees composed of Trustees with diverse backgrounds, to which the Board of Trustees has assigned specific subject matter responsibilities to further enhance the effectiveness of the Board’s oversight and decision making. The Board of Trustees and its investment committees (money market and alternative products, equity, and fixed income) meet regularly throughout the year and consider factors that are relevant to their annual consideration of investment advisory agreements at each meeting. They also meet for the specific purpose of considering investment advisory agreement annual renewals. The Board of Trustees held meetings in person in June and August 2016, at which the Trustees considered the continuation of the investment advisory agreements for each of the Funds whose semi-annual report is contained herein (each an “Advisory Agreement” and collectively, the “Advisory Agreements”). At the June meeting, the Board’s investment committees met to review and consider performance, expense and related information for the J.P. Morgan Funds. Each investment committee reported to the full Board, which then considered the investment committee’s preliminary findings. At the August meeting, the Trustees continued their review and consideration. The Trustees, including a majority of the Trustees who are not “interested persons” (as defined in the 1940 Act) of any party to the Advisory Agreements or any of their affiliates, approved the continuation of each Advisory Agreement on August 17, 2016.

As part of their review of the Advisory Agreements, the Trustees considered and reviewed performance and other information about the Funds received from the Adviser. This information includes the Funds’ performance as compared to the performance of their peers and benchmarks and analyses by the Adviser of the Funds’ performance. In addition, the Trustees have engaged an independent management consulting firm (“independent consultant”) to report on the performance of certain J.P. Morgan Funds at each of the Trustees’ regular meetings. The Adviser also periodically provides comparative information regarding the Funds’ expense ratios and those of their peer groups. In addition, in preparation for the June and August meetings, the Trustees requested, received and evaluated extensive materials from the Adviser, including performance and expense analyses compiled by Broadridge using data from Lipper Inc. , independent providers of investment company data (together, “Broadridge/Lipper”). The Trustees’ independent consultant also provided additional analyses of the performance of the Funds, as well as a risk/return assessment of certain Funds as compared to the Fund’s objectives and peers, in connection with the Trustees’ review of the Advisory Agreements. Before voting on the proposed Advisory Agreements, the Trustees reviewed the proposed Advisory Agreements with representatives of the Adviser, counsel to the Trust and independent legal counsel and received a memorandum from independent legal counsel discussing the legal

standards for their consideration of the proposed Advisory Agreements. The Trustees also discussed the proposed Advisory Agreements in executive sessions with independent legal counsel at which no representatives of the Adviser were present. Set forth below is a summary of the material factors evaluated by the Trustees in determining whether to approve each Advisory Agreement.

The Trustees considered information provided with respect to the Funds over the course of the year. Each Trustee attributed different weights to the various factors and no factor alone was considered determinative. From year to year, the Trustees consider and place emphasis on relevant information in light of changing circumstances in market and economic conditions. The Trustees determined that the compensation to be received by the Adviser from each Fund under the applicable Advisory Agreement was fair and reasonable and that the continuance of each Advisory Agreement was in the best interests of each Fund and its shareholders. With respect to the Equity Index Trust, the Trustees approved the liquidation of the Fund on or about November 1, 2016, and the continuation of the Advisory Agreement until its liquidation.

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

Nature, Extent and Quality of Services Provided by the Adviser

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

The Trustees also considered their knowledge of the nature and quality of the services provided by the Adviser and its affiliates to the Funds gained from their experience as Trustees of the J.P. Morgan Funds. In addition, they considered the overall reputation and capabilities of the Adviser and its affiliates, the commitment of the Adviser to provide high quality service to the Funds, their overall confidence in the Adviser’s integrity and the Adviser’s responsiveness to questions or concerns

112 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

raised by them, including the Adviser’s willingness to consider and implement organizational and operational changes designed to improve investment results and the services provided to each Fund.

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

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

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

Fall-Out Benefits

The Trustees reviewed information regarding potential “fallout” or ancillary benefits received by the Adviser and its affiliates as a result of their relationship with the Funds. The Trustees also reviewed the Adviser’s allocation of fund brokerage for the J.P. Morgan Funds complex, including allocations to brokers who provide research to the Adviser.

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

Economies of Scale

The Trustees considered the extent to which the Funds may benefit from economies of scale. The Trustees considered that there may not be a direct relationship between economies of scale realized by the Funds and those realized by the Adviser as

assets increase. The Trustees noted that the proposed investment advisory fee schedule for each Fund does not contain breakpoints, but that the fees remain competitive with peer funds. The Trustees also considered that the Adviser has implemented fee waivers and expense limitations (“Fee Caps”) which allow each Fund’s shareholders to share potential economies of scale from a Fund’s inception. The Trustees also considered that the Adviser has shared economies of scale by adding or enhancing services to the Funds over time, noting the Adviser’s substantial investments in its business in support of the Funds, including investments in trading systems and technology (including cybersecurity improvements), retention of key talent, additions to analyst and portfolio management teams, and regulatory support enhancements. The Trustees also considered whether it would be appropriate to add advisory fee breakpoints and the Trustees concluded that the current fee structure was reasonable in light of the Fee Caps that the Adviser has in place that serve to limit the overall net expense ratios of each Fund at competitive levels. The Trustees concluded that the Funds’ shareholders received the benefits of potential economies of scale through the Fee Caps and the Adviser’s reinvestment in its operations to serve the Funds and their shareholders.

Independent Written Evaluation of the Funds’ Chief Compliance Officer

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

Fees Relative to Adviser’s Other Clients

The Trustees received and considered information about the nature and extent of investment advisory services and fee rates offered to other clients of the Adviser, including institutional separate accounts and/or funds sub-advised by the Adviser, and for investment management styles substantially similar to that of each Fund. The Trustees considered the complexity of investment management for registered mutual funds relative to the Adviser’s other clients and noted differences in the regulatory, legal and other risks and responsibilities of providing services to the different clients. The Trustees considered that serving as an adviser to a registered mutual fund involves greater responsibilities and risks than acting as a sub-adviser and observed that sub-advisory fees may be lower than those charged by the Adviser to each Fund. The Trustees also noted that the adviser, not the mutual fund, pays the sub-advisory fee and that many responsibilities related to the advisory function are retained by the primary adviser. The Trustees concluded that the fee rates charged to each Fund in comparison to those charged to the Adviser’s other clients were reasonable.

AUGUST 31, 2016 JPMORGAN INSTITUTIONAL TRUST FUNDS 113

BOARD APPROVAL OF INVESTMENT ADVISORY AGREEMENTS

(Unaudited) (continued)

Investment Performance

The Trustees received and considered absolute and/or relative performance for the Funds in a report prepared by Broadridge/Lipper. The Trustees considered the total return performance information, which included the ranking of the Funds within a performance universe made up of funds with the same Broadridge/Lipper investment classification and objective (the “Universe”), as well as a sub-set of funds within the Universe (the “Peer Group”), by total return for applicable one-, three- and five-year periods. The Trustees reviewed a description of Broadridge/Lipper’s methodology for selecting mutual funds in each Fund’s Peer Group and Universe. As part of this review, the Trustees also reviewed each Fund’s performance against its benchmark and considered the performance information provided for the Funds at regular Board meetings by the Adviser and the Trustees’ independent consultant and also considered the special analysis prepared by the Trustees’ independent consultant. For Core Bond Trust, the Trustees and Adviser determined that the Peer Group and/or Universe is less meaningful and the independent consultant prepared an analysis of the Fund across various risk and return metrics including tracking error, volatility, total/excess return versus various indices and customized peer groups of funds with similar portfolio objectives (as selected by the independent consultant). The Broadridge/Lipper performance data noted by the Trustees as part of their review and the determinations made by the Trustees with respect to each Fund’s performance is summarized below:

The Trustees noted that the Core Bond Trust’s performance was in the first, second and third quintiles based upon the Peer Group, and in the first quintiles based upon the Universe, for the one-, three-, and five-year periods ended December 31, 2015, respectively. The Trustees discussed the performance and investment strategy of the Fund with the Adviser and reviewed the performance analysis and evaluation prepared by the independent consultant. Based upon these discussions and various other factors, the Trustees concluded that the Fund’s performance was reasonable.

With respect to the Equity Index Trust, the Trustees approved the liquidation of the Fund on or about November 1, 2016, and the continuation of the Advisory Agreement until its liquidation. The Trustees noted that the Equity Index Trust’s performance was in the first quintiles based upon both the Peer Group and Universe, for each of the one-, three- and five-year periods ended December 31, 2015. The Trustees discussed the performance and investment strategy of the Fund with the Adviser and, based upon this discussion and various other factors, concluded that the Fund’s performance was reasonable.

The Trustees noted that the Intermediate Bond Trust’s performance was in the first quintiles based upon both the Peer Group and Universe, for each of the one-, three-, and five-year periods ended December 31, 2015. The Trustees discussed the performance and investment strategy of the Fund with the Adviser and, based upon this discussion and various other factors, concluded that the Fund’s performance was reasonable.

Advisory Fees and Expense Ratios

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

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

The Trustees noted that the Equity Index Trust’s net advisory fee was in the third quintile based upon the Peer Group, and in the second quintile based upon the Universe. The Trustees noted that actual total expenses were in the second quintile based upon the Peer Group, and in the first quintile based upon the Universes, respectively. The Trustees further noted that the Equity Index Trust advisory fee would be lowered from 0.25% to 0.04% effective September 1, 2016. After considering the factors identified above, in light of this information, the Trustees concluded that the advisory fee was reasonable.

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

114 JPMORGAN INSTITUTIONAL TRUST FUNDS AUGUST 31, 2016

FOR MORE INFORMATION:

INVESTMENT ADVISER

J.P. Morgan Investment Management Inc.

270 Park Avenue

New York, New York 10017

PLACEMENT AGENT

JPMorgan Institutional Investments, Inc.

270 Park Avenue

New York, New York 10017

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

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

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

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

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

^© JPMorgan Chase & Co., 2016.  All rights reserved. August 2016. SAN-INSTT-816

ITEM 2. CODE OF ETHICS.

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

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

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

Not applicable to a semi-annual report.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

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

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

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

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

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

(ii) Be an “interested person” of the investment company as defined in Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)).

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

Not applicable to a semi-annual report.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Disclose, under the caption Audit Fees, the aggregate fees billed for each of the last two fiscal years for professional

services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.

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

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

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

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

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

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

Not applicable to a semi-annual report.

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

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

Not applicable to a semi-annual report.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

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

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

Not applicable to a semi-annual report.

ITEM 6. SCHEDULE OF INVESTMENTS.

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

Included in Item 1.

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

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

Not applicable.

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

Not applicable.

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

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

Not applicable.

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

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

No material changes to report.

ITEM 11. CONTROLS AND PROCEDURES.

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

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

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

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

ITEM 12. EXHIBITS.

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

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

Not applicable.

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

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

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

Not applicable.

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

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

SIGNATURES

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

JPMorgan Institutional Trust

By:	/s/ Brian S. Shlissel
	Brian S. Shlissel
	President and Principal Executive Officer
	November 4, 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/ Brian S. Shlissel
	Brian S. Shlissel
	President and Principal Executive Officer
	November 4, 2016

By:	/s/ Laura M. Del Prato
	Laura M. Del Prato
	Treasurer and Principal Financial Officer
	November 4, 2016

EX-99.CERT

EXHIBIT (B)(1)

CERTIFICATIONS

I, Brian S. Shlissel, certify that:

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

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

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

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

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

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

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

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

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

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

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

Date: November 4, 2016
	/s/ Brian S. Shlissel
	Brian S. Shlissel
	President and Principal Executive Officer

CERTIFICATIONS

I, Laura M. Del Prato, certify that:

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

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

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

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

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

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

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

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

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

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

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

Date: November 4, 2016
	/s/ Laura M. Del Prato
	Laura M. Del Prato
	Treasurer and Principal Financial Officer

EX-99.906CERT

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

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

I, Brian S. Shlissel, certify that:

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

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

/s/ Brian S. Shlissel

Brian S. Shlissel

President and Principal Executive Officer

November 4, 2016

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

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

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

I, Laura M. Del Prato, certify that:

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

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

/s/ Laura M. Del Prato

Laura M. Del Prato

Treasurer and Principal Financial Officer

November 4, 2016

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