JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited)

Investments	Principal Amount ($000)		Value ($000)
CORPORATE BONDS — 27.9%
Aerospace & Defense — 0.9%
Airbus SE (France) 3.95%, 4/10/2047 (a)		150		178
BAE Systems plc (United Kingdom)
1.90%, 2/15/2031 (a)		1,007		960
3.00%, 9/15/2050 (a)		502		491
Boeing Co. (The) 1.17%, 2/4/2023		1,115		1,115
1.95%, 2/1/2024		1,030		1,044
1.43%, 2/4/2024		2,265		2,265
4.88%, 5/1/2025		605		663
2.75%, 2/1/2026		995		1,022
2.20%, 2/4/2026		1,385		1,382
3.10%, 5/1/2026		320		333
5.04%, 5/1/2027		960		1,081
3.25%, 3/1/2028		840		869
5.15%, 5/1/2030		940		1,090
5.71%, 5/1/2040		745		952
L3Harris Technologies, Inc. 1.80%, 1/15/2031		840		804
Leidos, Inc. 2.30%, 2/15/2031		465		450
Northrop Grumman Corp. 3.25%, 1/15/2028		200		213
Precision Castparts Corp. 3.25%, 6/15/2025		897		959
Raytheon Technologies Corp.
3.20%, 3/15/2024		350		365
4.50%, 6/1/2042		2,799		3,459
4.15%, 5/15/2045		543		649
4.35%, 4/15/2047		199		245
				20,589
Airlines — 0.0%(b)
Continental Airlines Pass-Through Trust Series 2012-2, Class A Shares, 4.00%, 10/29/2024		127		133
Auto Components — 0.0% (b)
Lear Corp. 2.60%, 1/15/2032		445		438
Automobiles — 0.5%
General Motors Co. 6.13%, 10/1/2025		515		594
Hyundai Capital America
1.15%, 11/10/2022 (a)		1,500		1,506
1.80%, 10/15/2025 (a)		490		489
1.30%, 1/8/2026 (a)		425		414
1.50%, 6/15/2026 (a)		775		754
3.00%, 2/10/2027 (a)		355		370
2.38%, 10/15/2027 (a)		530		529
1.80%, 1/10/2028 (a)		805		778
Nissan Motor Co. Ltd. (Japan)
4.35%, 9/17/2027 (a)		2,393		2,578
4.81%, 9/17/2030 (a)		1,102		1,232
Stellantis Finance US, Inc. 2.69%, 9/15/2031 (a)		785		773
Volkswagen Group of America Finance LLC (Germany) 1.63%, 11/24/2027 (a)		705		685
				10,702
Banks — 4.8%
ABN AMRO Bank NV (Netherlands) 4.75%, 7/28/2025 (a)		1,216		1,329
AIB Group plc (Ireland) 4.75%, 10/12/2023 (a)		1,165		1,238
ANZ New Zealand Int’l Ltd. (New Zealand) 2.55%, 2/13/2030 (a)		778		805
Australia & New Zealand Banking Group Ltd. (Australia) 4.40%, 5/19/2026 (a)		263		288
Banco Nacional de Panama (Panama) 2.50%, 8/11/2030 (a)		1,250		1,166
Banco Santander SA (Spain)
3.13%, 2/23/2023		400		411
2.75%, 5/28/2025		800		827
1.85%, 3/25/2026		1,000		997
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (c)		400		393
2.75%, 12/3/2030		600		587
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.22%, 11/22/2032 (c)		1,000		996
Bank of America Corp.
(ICE LIBOR USD 3 Month + 0.78%), 3.55%, 3/5/2024 (c)		547		565
(ICE LIBOR USD 3 Month + 1.09%), 3.09%, 10/1/2025 (c)		526		549
Series N, (SOFR + 0.91%), 1.66%, 3/11/2027 (c)		590		585
3.25%, 10/21/2027		547		580
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (c)		1,700		1,836
(ICE LIBOR USD 3 Month + 1.04%), 3.42%, 12/20/2028 (c)		8,246		8,784
(SOFR + 2.15%), 2.59%, 4/29/2031 (c)		1,510		1,523
(SOFR + 1.21%), 2.57%, 10/20/2032 (c)		1,120		1,125
(SOFR + 1.93%), 2.68%, 6/19/2041 (c)		4,685		4,549
Bank of Ireland Group plc (Ireland)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (a) (c)		755		745
Bank of Montreal (Canada) 1.85%, 5/1/2025		950		966
Banque Federative du Credit Mutuel SA (France)

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
3.75%, 7/20/2023 (a)		540		566
2.38%, 11/21/2024 (a)		813		837
Barclays plc (United Kingdom)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.80%), 1.01%, 12/10/2024 (c)		1,452		1,442
3.65%, 3/16/2025		1,000		1,060
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 11/24/2032 (c)		585		587
BNP Paribas SA (France)
3.38%, 1/9/2025 (a)		425		448
(SOFR + 2.07%), 2.22%, 6/9/2026 (a) (c)		407		413
(SOFR + 1.00%), 1.32%, 1/13/2027 (a) (c)		323		315
(SOFR + 1.22%), 2.16%, 9/15/2029 (a) (c)		1,446		1,421
(SOFR + 1.51%), 3.05%, 1/13/2031 (a) (c)		1,065		1,103
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 2.59%, 8/12/2035 (a) (c)		805		775
2.82%, 1/26/2041 (a)		395		374
BNZ International Funding Ltd. (New Zealand) 2.65%, 11/3/2022 (a)		632		645
Citigroup, Inc.
4.40%, 6/10/2025		865		939
4.30%, 11/20/2026		1,200		1,323
6.63%, 1/15/2028		250		314
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 7/24/2028 (c)		1,573		1,692
(ICE LIBOR USD 3 Month + 1.34%), 3.98%, 3/20/2030 (c)		1,000		1,107
(SOFR + 1.17%), 2.56%, 5/1/2032 (c)		2,145		2,155
(SOFR + 1.18%), 2.52%, 11/3/2032 (c)		885		885
8.13%, 7/15/2039		223		381
Citizens Bank NA 3.70%, 3/29/2023		720		746
Commonwealth Bank of Australia (Australia) 3.31%, 3/11/2041 (a)		525		540
Cooperatieve Rabobank UA (Netherlands)
4.38%, 8/4/2025		783		851
3.75%, 7/21/2026		945		1,021
Credit Agricole SA (France)
4.38%, 3/17/2025 (a)		1,250		1,348
(SOFR + 1.68%), 1.91%, 6/16/2026 (a) (c)		500		502
(SOFR + 0.89%), 1.25%, 1/26/2027 (a) (c)		1,500		1,459
2.81%, 1/11/2041 (a)		470		446
Danske Bank A/S (Denmark) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.03%), 1.17%, 12/8/2023 (a) (c)		2,110		2,111
Discover Bank
3.35%, 2/6/2023		343		352
4.25%, 3/13/2026		1,205		1,318
HSBC Holdings plc (United Kingdom)
(ICE LIBOR USD 3 Month + 0.99%), 3.95%, 5/18/2024 (c)		1,054		1,096
4.25%, 8/18/2025		939		1,012
3.90%, 5/25/2026		200		216
(ICE LIBOR USD 3 Month + 1.55%), 4.04%, 3/13/2028 (c)		904		976
(SOFR + 1.73%), 2.01%, 9/22/2028 (c)		1,215		1,188
(SOFR + 1.29%), 2.21%, 8/17/2029 (c)		815		798
(SOFR + 1.95%), 2.36%, 8/18/2031 (c)		1,160		1,134
6.10%, 1/14/2042		700		1,002
ING Groep NV (Netherlands) (SOFR + 1.01%), 1.73%, 4/1/2027 (c)		705		702
KeyBank NA 3.18%, 5/22/2022		729		738
Lloyds Banking Group plc (United Kingdom)
(ICE LIBOR USD 3 Month + 0.81%), 2.91%, 11/7/2023 (c)		612		623
4.58%, 12/10/2025		400		439
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.63%, 5/11/2027 (c)		980		964
4.38%, 3/22/2028		475		534
Mitsubishi UFJ Financial Group, Inc. (Japan) 3.75%, 7/18/2039		760		862
Mizuho Financial Group, Inc. (Japan)
(ICE LIBOR USD 3 Month + 0.83%), 2.23%, 5/25/2026 (c)		875		889
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.23%, 5/22/2027 (c)		1,057		1,026
(SOFR + 1.57%), 2.87%, 9/13/2030 (c)		720		747
National Australia Bank Ltd. (Australia) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.88%), 3.93%, 8/2/2034 (a) (c)		1,025		1,099
NatWest Group plc (United Kingdom)
(ICE LIBOR USD 3 Month + 1.76%), 4.27%, 3/22/2025 (c)		480		510
4.80%, 4/5/2026		2,010		2,240

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
(ICE LIBOR USD 3 Month + 1.75%), 4.89%, 5/18/2029 (c)		290		333
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.10%), 3.75%, 11/1/2029 (c)		900		943
(ICE LIBOR USD 3 Month + 1.87%), 4.44%, 5/8/2030 (c)		640		725
NatWest Markets plc (United Kingdom) 1.60%, 9/29/2026 (a)		435		428
Nordea Bank Abp (Finland)
4.25%, 9/21/2022 (a)		945		972
1.50%, 9/30/2026 (a)		556		547
Royal Bank of Canada (Canada) 4.65%, 1/27/2026		337		374
Santander UK Group Holdings plc (United Kingdom)
3.57%, 1/10/2023		200		201
(SOFR + 0.99%), 1.67%, 6/14/2027 (c)		930		912
Societe Generale SA (France)
5.00%, 1/17/2024 (a)		370		395
4.25%, 8/19/2026 (a)		1,950		2,101
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.49%, 12/14/2026 (a) (c)		2,205		2,155
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.79%, 6/9/2027 (a) (c)		395		388
3.00%, 1/22/2030 (a)		835		861
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 6/9/2032 (a) (c)		915		914
Standard Chartered plc (United Kingdom)
5.20%, 1/26/2024 (a)		700		750
(ICE LIBOR USD 3 Month + 1.08%), 3.89%, 3/15/2024 (a) (c)		400		413
(ICE LIBOR USD 3 Month + 1.21%), 2.82%, 1/30/2026 (a) (c)		570		585
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.46%, 1/14/2027 (a) (c)		485		471
(USD ICE Swap Rate 5 Year + 1.97%), 4.87%, 3/15/2033 (a) (c)		200		218
Sumitomo Mitsui Financial Group, Inc. (Japan)
4.44%, 4/2/2024 (a)		500		533
1.47%, 7/8/2025		542		541
2.63%, 7/14/2026		872		905
3.04%, 7/16/2029		1,315		1,378
Truist Financial Corp. 4.00%, 5/1/2025		265		287
UniCredit SpA (Italy)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 2.57%, 9/22/2026 (a) (c)		905		908
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (a) (c)		665		649
(USD ICE Swap Rate 5 Year + 3.70%), 5.86%, 6/19/2032 (a) (c)		200		218
(USD ICE Swap Rate 5 Year + 4.91%), 7.30%, 4/2/2034 (a) (c)		300		358
US Bancorp 7.50%, 6/1/2026		1,277		1,593
Wells Fargo & Co.
4.48%, 1/16/2024		702		750
4.10%, 6/3/2026		637		695
(ICE LIBOR USD 3 Month + 1.17%), 3.20%, 6/17/2027 (c)		2,570		2,717
(SOFR + 2.53%), 3.07%, 4/30/2041 (c)		1,445		1,486
4.65%, 11/4/2044		1,180		1,441
4.40%, 6/14/2046		300		359
Westpac Banking Corp. (Australia) 3.13%, 11/18/2041		882		872
				109,491
Beverages — 0.6%
Anheuser-Busch Cos. LLC (Belgium)
4.70%, 2/1/2036		3,945		4,744
4.90%, 2/1/2046		2,235		2,837
Anheuser-Busch InBev Finance, Inc. (Belgium) 4.63%, 2/1/2044		70		85
Anheuser-Busch InBev Worldwide, Inc. (Belgium)
4.35%, 6/1/2040		800		940
4.44%, 10/6/2048		780		938
4.60%, 6/1/2060		375		466
Coca-Cola Femsa SAB de CV (Mexico)
2.75%, 1/22/2030		790		813
1.85%, 9/1/2032		675		639
Constellation Brands, Inc.
4.40%, 11/15/2025		325		358
5.25%, 11/15/2048		220		293
Diageo Investment Corp. (United Kingdom) 8.00%, 9/15/2022		255		270
Fomento Economico Mexicano SAB de CV (Mexico) 3.50%, 1/16/2050		1,060		1,130
Keurig Dr Pepper, Inc. 4.42%, 5/25/2025		149		163

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
3.43%, 6/15/2027		250		269
4.99%, 5/25/2038		215		269
				14,214
Biotechnology — 0.6%
AbbVie, Inc.
3.45%, 3/15/2022		937		940
2.80%, 3/15/2023		525		535
3.85%, 6/15/2024		443		470
3.20%, 11/21/2029		1,832		1,943
4.05%, 11/21/2039		1,809		2,069
4.63%, 10/1/2042		480		583
4.40%, 11/6/2042		790		947
4.45%, 5/14/2046		190		231
Amgen, Inc. 3.00%, 1/15/2052		845		825
Baxalta, Inc.
3.60%, 6/23/2022		149		151
5.25%, 6/23/2045		50		67
Biogen, Inc.
2.25%, 5/1/2030		1,150		1,125
3.15%, 5/1/2050		310		304
Gilead Sciences, Inc. 2.60%, 10/1/2040		1,225		1,171
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030		1,270		1,191
				12,552
Building Products — 0.1%
Masco Corp.
2.00%, 10/1/2030		340		327
6.50%, 8/15/2032		600		797
				1,124
Capital Markets — 2.0%
Bank of New York Mellon Corp. (The) 2.80%, 5/4/2026		254		266
Blackstone Holdings Finance Co. LLC 4.45%, 7/15/2045 (a)		429		547
Blackstone Secured Lending Fund 3.65%, 7/14/2023		795		823
Brookfield Finance, Inc. (Canada)
3.90%, 1/25/2028		337		372
4.85%, 3/29/2029		411		480
4.70%, 9/20/2047		427		529
Credit Suisse AG (Switzerland) 3.63%, 9/9/2024		402		428
Credit Suisse Group AG (Switzerland)
3.57%, 1/9/2023 (a)		729		731
3.80%, 6/9/2023		800		833
(SOFR + 1.56%), 2.59%, 9/11/2025 (a) (c)		250		256
(SOFR + 2.04%), 2.19%, 6/5/2026 (a) (c)		490		495
(SOFR + 0.98%), 1.31%, 2/2/2027 (a) (c)		1,360		1,316
4.28%, 1/9/2028 (a)		1,162		1,267
(SOFR + 1.73%), 3.09%, 5/14/2032 (a) (c)		840		851
Deutsche Bank AG (Germany)
3.30%, 11/16/2022		1,000		1,024
(SOFR + 2.16%), 2.22%, 9/18/2024 (c)		1,225		1,242
(SOFR + 1.87%), 2.13%, 11/24/2026 (c)		780		782
FMR LLC 6.45%, 11/15/2039 (a)		500		739
Goldman Sachs Group, Inc. (The)
4.25%, 10/21/2025		1,415		1,539
3.50%, 11/16/2026		469		499
(SOFR + 0.80%), 1.43%, 3/9/2027 (c)		2,900		2,844
(SOFR + 0.91%), 1.95%, 10/21/2027 (c)		780		778
(ICE LIBOR USD 3 Month + 1.51%), 3.69%, 6/5/2028 (c)		3,776		4,070
(ICE LIBOR USD 3 Month + 1.30%), 4.22%, 5/1/2029 (c)		505		560
(SOFR + 1.09%), 1.99%, 1/27/2032 (c)		880		843
(SOFR + 1.28%), 2.62%, 4/22/2032 (c)		1,000		1,002
(SOFR + 1.25%), 2.38%, 7/21/2032 (c)		1,055		1,035
6.75%, 10/1/2037		685		967
Jefferies Group LLC 6.45%, 6/8/2027		749		917
Macquarie Bank Ltd. (Australia)
4.00%, 7/29/2025 (a)		1,000		1,089
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.70%), 3.05%, 3/3/2036 (a) (c)		575		567
Macquarie Group Ltd. (Australia)
(SOFR + 1.07%), 1.34%, 1/12/2027 (a) (c)		510		499
(ICE LIBOR USD 3 Month + 1.75%), 5.03%, 1/15/2030 (a) (c)		700		816
Morgan Stanley
(SOFR + 1.99%), 2.19%, 4/28/2026 (c)		985		1,005
3.63%, 1/20/2027		3,430		3,711
(SOFR + 1.03%), 1.79%, 2/13/2032 (c)		440		417
(ICE LIBOR USD 3 Month + 1.43%), 4.46%, 4/22/2039 (c)		1,265		1,532
4.30%, 1/27/2045		485		600
Nomura Holdings, Inc. (Japan)
2.65%, 1/16/2025		1,094		1,131
2.68%, 7/16/2030		700		705
UBS Group AG (Switzerland)
3.49%, 5/23/2023 (a)		269		273
(ICE LIBOR USD 3 Month + 0.95%), 2.86%, 8/15/2023 (a) (c)		200		203
4.13%, 9/24/2025 (a)		300		327

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.49%, 8/10/2027 (a) (c)		255		249
(ICE LIBOR USD 3 Month + 1.47%), 3.13%, 8/13/2030 (a) (c)		965		1,012
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (a) (c)		1,480		1,430
				43,601
Chemicals — 0.2%
Albemarle Corp. 5.45%, 12/1/2044		150		198
DuPont de Nemours, Inc. 5.32%, 11/15/2038		980		1,266
International Flavors & Fragrances, Inc. 5.00%, 9/26/2048		365		482
Nutrien Ltd. (Canada)
4.20%, 4/1/2029		175		198
4.13%, 3/15/2035		455		516
5.00%, 4/1/2049		230		310
Union Carbide Corp. 7.75%, 10/1/2096		850		1,537
				4,507
Commercial Services & Supplies — 0.1%
Ford Foundation (The) Series 2020, 2.82%, 6/1/2070		365		382
Republic Services, Inc. 1.45%, 2/15/2031		910		848
				1,230
Construction & Engineering — 0.1%
Quanta Services, Inc.
2.90%, 10/1/2030		1,440		1,484
2.35%, 1/15/2032		1,095		1,077
				2,561
Construction Materials — 0.1%
CRH America, Inc. (Ireland)
3.88%, 5/18/2025 (a)		417		449
5.13%, 5/18/2045 (a)		893		1,194
Martin Marietta Materials, Inc. 3.45%, 6/1/2027		770		828
				2,471
Consumer Finance — 1.3%
AerCap Ireland Capital DAC (Ireland)
3.95%, 2/1/2022		775		777
4.50%, 9/15/2023		2,420		2,550
2.88%, 8/14/2024		600		619
6.50%, 7/15/2025		246		281
1.75%, 1/30/2026		860		843
2.45%, 10/29/2026		560		561
3.00%, 10/29/2028		690		695
3.30%, 1/30/2032		655		660
Avolon Holdings Funding Ltd. (Ireland)
3.63%, 5/1/2022 (a)		2,000		2,020
2.88%, 2/15/2025 (a)		450		460
5.50%, 1/15/2026 (a)		1,000		1,110
2.13%, 2/21/2026 (a)		620		607
4.25%, 4/15/2026 (a)		1,200		1,281
4.38%, 5/1/2026 (a)		820		879
2.53%, 11/18/2027 (a)		7,294		7,113
Capital One Financial Corp.
3.20%, 2/5/2025		1,069		1,124
4.20%, 10/29/2025		250		272
(SOFR + 1.27%), 2.62%, 11/2/2032 (c)		920		915
General Motors Financial Co., Inc.
1.20%, 10/15/2024		470		469
1.25%, 1/8/2026		1,781		1,736
4.35%, 1/17/2027		430		471
2.35%, 1/8/2031		1,190		1,150
2.70%, 6/10/2031		910		902
Park Aerospace Holdings Ltd. (Ireland)
4.50%, 3/15/2023 (a)		235		243
5.50%, 2/15/2024 (a)		126		136
				27,874
Containers & Packaging — 0.1%
Graphic Packaging International LLC 1.51%, 4/15/2026 (a)		1,246		1,227
Packaging Corp. of America 4.05%, 12/15/2049		845		1,016
WRKCo, Inc.
3.75%, 3/15/2025		400		429
3.90%, 6/1/2028		170		188
				2,860
Diversified Consumer Services — 0.1%
Pepperdine University Series 2020, 3.30%, 12/1/2059		600		654
University of Southern California Series A, 3.23%, 10/1/2120		570		614
				1,268
Diversified Financial Services — 0.3%
CK Hutchison International 19 Ltd. (United Kingdom) 3.63%, 4/11/2029 (a)		1,215		1,337
GTP Acquisition Partners I LLC 3.48%, 6/16/2025 (a)		1,436		1,494
Hutchison Whampoa International 12 II Ltd. (United Kingdom) 3.25%, 11/8/2022 (a)		539		552
Mitsubishi HC Capital, Inc. (Japan) 2.65%, 9/19/2022 (a)		606		614
ORIX Corp. (Japan) 2.90%, 7/18/2022		553		561
Shell International Finance BV (Netherlands) 2.38%, 11/7/2029		2,280		2,322
Siemens Financieringsmaatschappij NV (Germany) 4.40%, 5/27/2045 (a)		513		665
				7,545

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Diversified Telecommunication Services — 0.8%
AT&T, Inc.
2.30%, 6/1/2027		2,340		2,377
1.65%, 2/1/2028		250		243
3.50%, 6/1/2041		646		664
3.55%, 9/15/2055		2,984		2,999
Deutsche Telekom AG (Germany) 3.63%, 1/21/2050 (a)		335		361
Deutsche Telekom International Finance BV (Germany) 4.88%, 3/6/2042 (a)		232		292
Qwest Corp. 6.75%, 12/1/2021		741		741
Verizon Communications, Inc.
2.10%, 3/22/2028		1,495		1,491
4.33%, 9/21/2028		962		1,096
2.36%, 3/15/2032 (a)		325		322
4.40%, 11/1/2034		1,895		2,222
4.27%, 1/15/2036		1,445		1,698
2.65%, 11/20/2040		988		943
3.40%, 3/22/2041		1,060		1,127
2.99%, 10/30/2056		545		524
3.70%, 3/22/2061		1,045		1,154
				18,254
Electric Utilities — 2.0%
Alabama Power Co. 6.13%, 5/15/2038		239		337
Arizona Public Service Co. 5.05%, 9/1/2041		200		255
Baltimore Gas and Electric Co.
3.50%, 8/15/2046		376		415
2.90%, 6/15/2050		450		455
China Southern Power Grid International Finance BVI Co. Ltd. (China) 3.50%, 5/8/2027 (a)		1,234		1,329
Duke Energy Carolinas LLC 4.25%, 12/15/2041		129		154
Duke Energy Corp. 3.75%, 9/1/2046		985		1,063
Duke Energy Progress LLC
4.10%, 5/15/2042		273		318
4.10%, 3/15/2043		125		148
2.90%, 8/15/2051		820		827
Duquesne Light Holdings, Inc. 3.62%, 8/1/2027 (a)		750		799
Edison International 3.55%, 11/15/2024		1,591		1,676
Emera US Finance LP (Canada) 4.75%, 6/15/2046		700		831
Entergy Arkansas LLC
3.50%, 4/1/2026		175		189
2.65%, 6/15/2051		415		396
Entergy Corp. 2.95%, 9/1/2026		336		352
Entergy Louisiana LLC
3.05%, 6/1/2031		629		667
2.90%, 3/15/2051		490		491
Evergy Metro, Inc. 5.30%, 10/1/2041		1,400		1,851
Evergy, Inc. 2.90%, 9/15/2029		985		1,025
FirstEnergy Transmission LLC 4.55%, 4/1/2049 (a)		240		281
Fortis, Inc. (Canada) 3.06%, 10/4/2026		500		523
Hydro-Quebec (Canada)
Series HY, 8.40%, 1/15/2022		1,000		1,010
Series IO, 8.05%, 7/7/2024		350		412
ITC Holdings Corp.
2.70%, 11/15/2022		900		916
2.95%, 5/14/2030 (a)		440		454
Jersey Central Power & Light Co. 4.30%, 1/15/2026 (a)		560		610
John Sevier Combined Cycle Generation LLC 4.63%, 1/15/2042		713		868
Mid-Atlantic Interstate Transmission LLC 4.10%, 5/15/2028 (a)		315		349
Nevada Power Co.
Series N, 6.65%, 4/1/2036		100		144
5.45%, 5/15/2041		305		411
Niagara Mohawk Power Corp.
3.51%, 10/1/2024 (a)		493		518
1.96%, 6/27/2030 (a)		1,000		962
NRG Energy, Inc.
2.00%, 12/2/2025 (a)		710		716
2.45%, 12/2/2027 (a)		795		789
4.45%, 6/15/2029 (a)		615		671
OGE Energy Corp. 0.70%, 5/26/2023		560		557
Oklahoma Gas and Electric Co. 0.55%, 5/26/2023		675		671
Oncor Electric Delivery Co. LLC 5.75%, 3/15/2029		110		135
Pacific Gas and Electric Co.
1.75%, 6/16/2022		4,500		4,497
1.37%, 3/10/2023		2,135		2,123
1.70%, 11/15/2023		690		689
3.45%, 7/1/2025		795		824
2.95%, 3/1/2026		500		508
4.20%, 6/1/2041		695		708
3.75%, 8/15/2042 (d)		308		287
4.30%, 3/15/2045		525		539
PECO Energy Co. 2.80%, 6/15/2050		410		409
Pennsylvania Electric Co. 3.25%, 3/15/2028 (a)		150		155
Pepco Holdings LLC 7.45%, 8/15/2032		316		435
Potomac Electric Power Co. 6.50%, 11/15/2037		1,085		1,601
Progress Energy, Inc. 7.00%, 10/30/2031		300		408
Public Service Co. of Colorado 3.55%, 6/15/2046		214		232

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Public Service Co. of Oklahoma Series G, 6.63%, 11/15/2037		2,490		3,570
Public Service Electric and Gas Co. 5.38%, 11/1/2039		317		422
Southern California Edison Co.
Series B, 3.65%, 3/1/2028		400		431
Series 08-A, 5.95%, 2/1/2038		200		262
4.05%, 3/15/2042		552		604
Southwestern Public Service Co. 4.50%, 8/15/2041		200		245
Toledo Edison Co. (The) 6.15%, 5/15/2037		300		419
				43,943
Electrical Equipment — 0.0% (b)
Eaton Corp.
7.63%, 4/1/2024		300		341
4.00%, 11/2/2032		170		196
				537
Electronic Equipment, Instruments & Components — 0.1%
Arrow Electronics, Inc.
4.50%, 3/1/2023		190		196
3.25%, 9/8/2024		219		229
3.88%, 1/12/2028		442		479
Corning, Inc. 3.90%, 11/15/2049		1,043		1,205
				2,109
Energy Equipment & Services — 0.1%
Baker Hughes Holdings LLC 5.13%, 9/15/2040		300		376
Halliburton Co. 4.75%, 8/1/2043		540		633
Schlumberger Holdings Corp.
4.00%, 12/21/2025 (a)		13		14
3.90%, 5/17/2028 (a)		1,126		1,229
				2,252
Entertainment — 0.1%
Activision Blizzard, Inc. 1.35%, 9/15/2030		842		770
Walt Disney Co. (The)
8.88%, 4/26/2023		430		478
6.20%, 12/15/2034		100		141
				1,389
Equity Real Estate Investment Trusts (REITs) — 1.8%
Alexandria Real Estate Equities, Inc.
3.80%, 4/15/2026		135		147
2.00%, 5/18/2032		980		945
4.00%, 2/1/2050		653		771
American Campus Communities Operating Partnership LP 3.63%, 11/15/2027		500		540
American Tower Corp.
5.00%, 2/15/2024		974		1,052
3.38%, 10/15/2026		312		331
1.50%, 1/31/2028		1,215		1,158
2.10%, 6/15/2030		630		605
1.88%, 10/15/2030		1,090		1,027
3.70%, 10/15/2049		935		998
3.10%, 6/15/2050		496		480
2.95%, 1/15/2051		324		305
Boston Properties LP
3.20%, 1/15/2025		532		559
3.65%, 2/1/2026		483		519
Brixmor Operating Partnership LP
3.85%, 2/1/2025		400		426
2.25%, 4/1/2028		840		841
2.50%, 8/16/2031		425		414
Corporate Office Properties LP 2.00%, 1/15/2029		335		324
Crown Castle International Corp.
4.00%, 3/1/2027		264		288
2.25%, 1/15/2031		1,235		1,194
Digital Realty Trust LP 3.70%, 8/15/2027		252		275
Duke Realty LP
3.25%, 6/30/2026		239		256
2.88%, 11/15/2029		380		398
Equinix, Inc. 2.90%, 11/18/2026		1,130		1,172
Essex Portfolio LP 2.65%, 3/15/2032		2,000		2,017
Healthcare Trust of America Holdings LP
3.10%, 2/15/2030		1,604		1,665
2.00%, 3/15/2031		610		576
Healthpeak Properties, Inc.
3.40%, 2/1/2025		17		18
3.50%, 7/15/2029		772		841
Life Storage LP
4.00%, 6/15/2029		859		946
2.40%, 10/15/2031		485		476
Mid-America Apartments LP 3.95%, 3/15/2029		920		1,033
National Retail Properties, Inc.
4.00%, 11/15/2025		783		854
4.30%, 10/15/2028		620		701
Office Properties Income Trust
4.00%, 7/15/2022		784		797
2.40%, 2/1/2027		980		954
3.45%, 10/15/2031		490		477
Physicians Realty LP 2.63%, 11/1/2031		505		504
Prologis LP 3.00%, 4/15/2050		905		942
Public Storage
1.95%, 11/9/2028		615		611
2.25%, 11/9/2031		516		514
Realty Income Corp. 1.80%, 3/15/2033		530		501
Regency Centers LP 2.95%, 9/15/2029		745		774
Sabra Health Care LP 3.20%, 12/1/2031		825		809
Safehold Operating Partnership LP 2.80%, 6/15/2031		2,940		2,924
Scentre Group Trust 1 (Australia) 3.50%, 2/12/2025 (a)		420		445
Scentre Group Trust 2 (Australia) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.38%), 4.75%, 9/24/2080 (a) (c)		1,320		1,379

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
SITE Centers Corp. 4.70%, 6/1/2027		330		368
UDR, Inc.
2.95%, 9/1/2026		382		400
3.00%, 8/15/2031		305		318
2.10%, 8/1/2032		640		610
Ventas Realty LP
3.50%, 2/1/2025		242		256
4.13%, 1/15/2026		114		125
3.25%, 10/15/2026		292		312
3.85%, 4/1/2027		554		604
Welltower, Inc.
2.70%, 2/15/2027		414		430
6.50%, 3/15/2041		350		513
WP Carey, Inc.
4.25%, 10/1/2026		350		386
2.25%, 4/1/2033		1,180		1,128
				41,233
Food & Staples Retailing — 0.3%
7-Eleven, Inc.
1.30%, 2/10/2028 (a)		565		538
2.50%, 2/10/2041 (a)		574		532
Alimentation Couche-Tard, Inc. (Canada)
3.44%, 5/13/2041 (a)		1,275		1,322
3.63%, 5/13/2051 (a)		1,420		1,521
CVS Pass-Through Trust
5.93%, 1/10/2034 (a)		783		945
Series 2013, 4.70%, 1/10/2036 (a)		603		688
Kroger Co. (The) 5.00%, 4/15/2042		1,100		1,397
				6,943
Food Products — 0.2%
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031		1,565		1,580
Campbell Soup Co. 3.13%, 4/24/2050		315		316
Conagra Brands, Inc. 5.30%, 11/1/2038		220		279
Mead Johnson Nutrition Co. (United Kingdom) 4.13%, 11/15/2025		153		168
Smithfield Foods, Inc. 3.00%, 10/15/2030 (a)		1,500		1,507
Tyson Foods, Inc.
4.88%, 8/15/2034		300		367
5.15%, 8/15/2044		210		276
				4,493
Gas Utilities — 0.1%
Atmos Energy Corp.
0.63%, 3/9/2023		430		429
4.15%, 1/15/2043		828		962
4.13%, 10/15/2044		125		147
Boston Gas Co. 4.49%, 2/15/2042 (a)		308		354
Brooklyn Union Gas Co. (The) 4.27%, 3/15/2048 (a)		440		506
Southern Natural Gas Co. LLC
8.00%, 3/1/2032		351		493
4.80%, 3/15/2047 (a)		367		449
				3,340
Health Care Equipment & Supplies — 0.2%
Abbott Laboratories 4.75%, 11/30/2036		380		488
Becton Dickinson and Co. 4.67%, 6/6/2047		600		760
Boston Scientific Corp. 4.00%, 3/1/2029		535		598
DH Europe Finance II SARL 3.25%, 11/15/2039		1,000		1,072
Zimmer Biomet Holdings, Inc. 2.60%, 11/24/2031		1,137		1,141
				4,059
Health Care Providers & Services — 0.9%
Advocate Health & Hospitals Corp. Series 2020, 2.21%, 6/15/2030		710		719
Aetna, Inc. 6.75%, 12/15/2037		440		642
Anthem, Inc.
4.63%, 5/15/2042		500		623
4.65%, 1/15/2043		535		669
4.65%, 8/15/2044		100		125
Ascension Health Series B, 2.53%, 11/15/2029		430		449
Bon Secours Mercy Health, Inc. Series 20-2, 3.21%, 6/1/2050		800		864
Children’s Hospital Series 2020, 2.93%, 7/15/2050		650		662
Children’s Hospital Corp. (The) Series 2020, 2.59%, 2/1/2050		580		564
Cigna Corp. 4.50%, 2/25/2026		300		332
CommonSpirit Health
1.55%, 10/1/2025		555		552
2.78%, 10/1/2030		550		565
3.91%, 10/1/2050		545		628
CVS Health Corp. 4.30%, 3/25/2028		171		193
Hackensack Meridian Health, Inc. Series 2020, 2.68%, 9/1/2041		1,430		1,424
HCA, Inc. 5.25%, 6/15/2026		1,680		1,890
5.13%, 6/15/2039		725		894
5.50%, 6/15/2047		190		250
3.50%, 7/15/2051		875		894
Mayo Clinic Series 2016, 4.13%, 11/15/2052		225		292
Memorial Health Services 3.45%, 11/1/2049		1,340		1,524

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Memorial Sloan-Kettering Cancer Center Series 2015, 4.20%, 7/1/2055		200		261
MidMichigan Health Series 2020, 3.41%, 6/1/2050		310		345
Quest Diagnostics, Inc. 3.45%, 6/1/2026		150		161
Texas Health Resources 4.33%, 11/15/2055		300		404
UnitedHealth Group, Inc.
3.50%, 8/15/2039		815		897
3.25%, 5/15/2051		560		609
Universal Health Services, Inc.
2.65%, 10/15/2030 (a)		690		669
2.65%, 1/15/2032 (a)		875		866
Yale-New Haven Health Services Corp. Series 2020, 2.50%, 7/1/2050		780		740
				19,707
Hotels, Restaurants & Leisure — 0.1%
McDonald’s Corp. 4.70%, 12/9/2035		700		865
Starbucks Corp. 2.55%, 11/15/2030		780		796
				1,661
Household Durables — 0.1%
Lennar Corp. 4.50%, 4/30/2024		365		389
MDC Holdings, Inc. 3.97%, 8/6/2061		1,100		1,068
				1,457
Household Products — 0.0% (b)
Reckitt Benckiser Treasury Services plc (United Kingdom) 2.38%, 6/24/2022 (a)		700		706
Independent Power and Renewable Electricity Producers — 0.1%
Alexander Funding Trust 1.84%, 11/15/2023 (a)		1,000		1,009
Exelon Generation Co. LLC 5.75%, 10/1/2041		235		288
Tri-State Generation and Transmission Association, Inc. 4.25%, 6/1/2046		417		481
				1,778
Industrial Conglomerates — 0.3%
GE Capital Funding LLC 4.40%, 5/15/2030		540		642
GE Capital International Funding Co. Unlimited Co. 4.42%, 11/15/2035		3,583		4,330
General Electric Co. 3.63%, 5/1/2030		780		879
Roper Technologies, Inc.
1.40%, 9/15/2027		1,370		1,329
2.00%, 6/30/2030		570		551
				7,731
Insurance — 1.0%
AIA Group Ltd. (Hong Kong)
3.60%, 4/9/2029 (a)		445		488
3.20%, 9/16/2040 (a)		520		534
AIG SunAmerica Global Financing X 6.90%, 3/15/2032 (a)		520		727
American International Group, Inc. 3.88%, 1/15/2035		605		676
Assurant, Inc. 4.20%, 9/27/2023		660		696
Athene Global Funding
0.95%, 1/8/2024 (a)		850		847
2.50%, 1/14/2025 (a)		239		246
1.45%, 1/8/2026 (a)		865		854
2.95%, 11/12/2026 (a)		2,800		2,930
Berkshire Hathaway Finance Corp. 4.40%, 5/15/2042		1,000		1,237
Brown & Brown, Inc. 2.38%, 3/15/2031		1,830		1,808
CNA Financial Corp. 3.95%, 5/15/2024		463		492
Dai-ichi Life Insurance Co. Ltd. (The) (Japan) (ICE LIBOR USD 3 Month + 3.66%), 4.00%, 7/24/2026 (a) (c) (e) (f)		526		558
F&G Global Funding 1.75%, 6/30/2026 (a)		750		748
Guardian Life Insurance Co. of America (The) 4.85%, 1/24/2077 (a)		208		277
Hanover Insurance Group, Inc. (The) 2.50%, 9/1/2030		500		499
Hartford Financial Services Group, Inc. (The) 4.30%, 4/15/2043		400		481
Intact US Holdings, Inc. 4.60%, 11/9/2022		500		516
Jackson National Life Global Funding 3.05%, 4/29/2026 (a)		675		713
Liberty Mutual Group, Inc.
4.57%, 2/1/2029 (a)		408		474
3.95%, 10/15/2050 (a)		900		1,027
Liberty Mutual Insurance Co. 8.50%, 5/15/2025 (a)		100		122
Markel Corp. 3.50%, 11/1/2027		200		216
Northwestern Mutual Global Funding 1.70%, 6/1/2028 (a)		795		790
Pacific Life Insurance Co. (ICE LIBOR USD 3 Month + 2.80%), 4.30%, 10/24/2067 (a) (c)		266		316
Prudential Financial, Inc. 3.91%, 12/7/2047		300		354
Prudential Insurance Co. of America (The) 8.30%, 7/1/2025 )		1,750		2,143
Swiss Re Finance Luxembourg SA (Switzerland) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.58%), 5.00%, 4/2/2049 (a) (c)		600		669

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Teachers Insurance & Annuity Association of America 4.27%, 5/15/2047 (a)		400		493
				21,931
IT Services — 0.2%
CGI, Inc. (Canada)
1.45%, 9/14/2026 (a)		843		824
2.30%, 9/14/2031 (a)		1,515		1,465
Fiserv, Inc.
3.20%, 7/1/2026		395		417
4.40%, 7/1/2049		375		446
Global Payments, Inc.
3.20%, 8/15/2029		945		979
4.15%, 8/15/2049		795		901
				5,032
Life Sciences Tools & Services — 0.1%
Thermo Fisher Scientific, Inc. 2.00%, 10/15/2031		1,375		1,347
Machinery — 0.1%
nVent Finance SARL (United Kingdom) 4.55%, 4/15/2028		450		503
Otis Worldwide Corp. 2.57%, 2/15/2030		1,430		1,454
Parker-Hannifin Corp. 4.45%, 11/21/2044		592		728
Xylem, Inc. 3.25%, 11/1/2026		197		211
				2,896
Media — 0.7%
Charter Communications Operating LLC
6.38%, 10/23/2035		528		684
4.80%, 3/1/2050		1,475		1,662
3.70%, 4/1/2051		1,120		1,086
Comcast Corp.
3.95%, 10/15/2025		696		759
3.55%, 5/1/2028		443		487
4.20%, 8/15/2034		555		651
3.25%, 11/1/2039		715		758
3.45%, 2/1/2050		609		657
2.89%, 11/1/2051 (a)		1,086		1,061
2.94%, 11/1/2056 (a)		1,079		1,048
2.99%, 11/1/2063 (a)		908		877
Cox Communications, Inc. 2.95%, 10/1/2050 (a)		635		608
Discovery Communications LLC
5.20%, 9/20/2047		175		219
4.00%, 9/15/2055		784		839
Grupo Televisa SAB (Mexico)
4.63%, 1/30/2026		221		240
6.13%, 1/31/2046		200		276
Time Warner Cable LLC
6.55%, 5/1/2037		400		536
5.50%, 9/1/2041		359		440
Time Warner Entertainment Co. LP 8.38%, 7/15/2033		700		1,032
ViacomCBS, Inc.
4.00%, 1/15/2026		792		859
4.85%, 7/1/2042		140		168
4.38%, 3/15/2043		464		525
5.85%, 9/1/2043		230		312
				15,784
Metals & Mining — 0.3%
Anglo American Capital plc (South Africa) 4.00%, 9/11/2027 (a)		500		538
Barrick Gold Corp. (Canada) 6.45%, 10/15/2035		295		404
Glencore Funding LLC (Australia)
4.13%, 5/30/2023 (a)		454		474
2.63%, 9/23/2031 (a)		244		237
Reliance Steel & Aluminum Co. 1.30%, 8/15/2025		2,500		2,477
Steel Dynamics, Inc. 3.45%, 4/15/2030		909		969
Vale Overseas Ltd. (Brazil) 3.75%, 7/8/2030		1,275		1,276
				6,375
Multiline Retail — 0.1%
Dollar General Corp. 4.13%, 5/1/2028		235		264
Kohl’s Corp. 3.38%, 5/1/2031		1,000		1,029
Nordstrom, Inc. 4.25%, 8/1/2031		1,243		1,190
				2,483
Multi-Utilities — 0.3%
CMS Energy Corp. 3.00%, 5/15/2026		475		499
Delmarva Power & Light Co. 4.00%, 6/1/2042		235		263
Dominion Energy, Inc.
Series B, 2.75%, 1/15/2022		331		331
Series F, 5.25%, 8/1/2033		920		1,139
NiSource, Inc.
1.70%, 2/15/2031		740		695
5.80%, 2/1/2042		1,256		1,689
San Diego Gas & Electric Co.
6.00%, 6/1/2026		275		326
3.95%, 11/15/2041		379		417
2.95%, 8/15/2051		1,050		1,072
Southern Co. Gas Capital Corp.
3.25%, 6/15/2026		254		269
Series 21A, 3.15%, 9/30/2051		420		422
				7,122
Oil, Gas & Consumable Fuels — 2.1%
APT Pipelines Ltd. (Australia) 4.25%, 7/15/2027 (a)		732		811
Boardwalk Pipelines LP 4.80%, 5/3/2029		410		464
BP Capital Markets America, Inc. 2.94%, 6/4/2051		1,995		1,942

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
BP Capital Markets plc (United Kingdom) 3.51%, 3/17/2025		451		480
Buckeye Partners LP 5.85%, 11/15/2043		770		758
Cameron LNG LLC 3.70%, 1/15/2039 (a)		961		1,054
Cheniere Corpus Christi Holdings LLC
5.88%, 3/31/2025		1,490		1,660
5.13%, 6/30/2027		605		685
2.74%, 12/31/2039 (a)		515		507
ConocoPhillips 2.40%, 2/15/2031 (a)		505		509
Coterra Energy, Inc. 3.90%, 5/15/2027 (a)		935		1,014
Devon Energy Corp. 5.25%, 9/15/2024 (a)		790		857
Diamondback Energy, Inc.
4.75%, 5/31/2025		1,085		1,189
3.25%, 12/1/2026		570		598
Eastern Gas Transmission & Storage, Inc. 3.90%, 11/15/2049 (a)		807		903
Ecopetrol SA (Colombia)
5.88%, 9/18/2023		226		238
4.13%, 1/16/2025		533		537
Enable Midstream Partners LP
4.95%, 5/15/2028		325		362
4.15%, 9/15/2029		594		640
Energy Transfer LP
4.75%, 1/15/2026		1,191		1,304
3.90%, 7/15/2026		244		262
5.50%, 6/1/2027		115		132
6.10%, 2/15/2042		400		493
5.30%, 4/1/2044		170		195
6.25%, 4/15/2049		800		1,038
5.00%, 5/15/2050		500		575
Eni SpA (Italy) 5.70%, 10/1/2040 (a)		925		1,195
Enterprise Products Operating LLC
3.90%, 2/15/2024		475		501
3.70%, 2/15/2026		506		544
Exxon Mobil Corp.
3.00%, 8/16/2039		895		922
3.57%, 3/6/2045		1,215		1,341
Flex Intermediate Holdco LLC
3.36%, 6/30/2031 (a)		1,425		1,440
4.32%, 12/30/2039 (a)		545		575
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates) 2.94%, 9/30/2040 (a)		1,100		1,081
Gray Oak Pipeline LLC
2.00%, 9/15/2023 (a)		535		541
2.60%, 10/15/2025 (a)		2,450		2,492
Hess Corp. 6.00%, 1/15/2040		510		648
HollyFrontier Corp.
2.63%, 10/1/2023		1,275		1,304
5.88%, 4/1/2026		577		651
Lundin Energy Finance BV (Netherlands) 2.00%, 7/15/2026 (a)		497		494
Magellan Midstream Partners LP 3.20%, 3/15/2025		353		367
Marathon Petroleum Corp.
4.50%, 5/1/2023		304		318
4.70%, 5/1/2025		380		415
ONEOK Partners LP
3.38%, 10/1/2022		151		153
5.00%, 9/15/2023		334		354
6.65%, 10/1/2036		350		467
Phillips 66 Partners LP 3.15%, 12/15/2029		985		1,017
Pioneer Natural Resources Co. 1.90%, 8/15/2030		1,050		994
Plains All American Pipeline LP
5.15%, 6/1/2042		460		510
4.70%, 6/15/2044		610		647
Saudi Arabian Oil Co. (Saudi Arabia)
1.25%, 11/24/2023 (a)		200		200
1.63%, 11/24/2025 (a)		278		276
Spectra Energy Partners LP 4.50%, 3/15/2045		495		573
Suncor Energy, Inc. (Canada) 6.80%, 5/15/2038		1,195		1,688
Texas Eastern Transmission LP
2.80%, 10/15/2022 (a)		554		560
3.50%, 1/15/2028 (a)		90		97
TotalEnergies Capital International SA (France)
2.99%, 6/29/2041		1,200		1,226
3.46%, 7/12/2049		815		890
3.13%, 5/29/2050		1,180		1,219
Valero Energy Corp.
1.20%, 3/15/2024		920		915
2.15%, 9/15/2027		830		828
7.50%, 4/15/2032		175		240
				46,890
Personal Products — 0.1%
Estee Lauder Cos., Inc. (The) 2.60%, 4/15/2030		1,880		1,954
Pharmaceuticals — 0.6%
AstraZeneca plc (United Kingdom) 6.45%, 9/15/2037		300		442
4.00%, 9/18/2042		240		288
Bristol-Myers Squibb Co.
4.13%, 6/15/2039		545		648
5.00%, 8/15/2045		740		994
Mylan, Inc. 5.40%, 11/29/2043		520		648
Royalty Pharma plc
0.75%, 9/2/2023		945		940
1.20%, 9/2/2025		840		824
1.75%, 9/2/2027		840		821
3.30%, 9/2/2040		400		399
3.55%, 9/2/2050		410		413

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Shire Acquisitions Investments Ireland DAC 3.20%, 9/23/2026		1,713		1,812
Takeda Pharmaceutical Co. Ltd. (Japan)
5.00%, 11/26/2028		895		1,053
3.03%, 7/9/2040		1,265		1,287
3.18%, 7/9/2050		590		603
Utah Acquisition Sub, Inc. 3.95%, 6/15/2026		300		323
Viatris, Inc. 3.85%, 6/22/2040		567		604
Zoetis, Inc. 2.00%, 5/15/2030		760		747
				12,846
Road & Rail — 0.4%
Burlington Northern Santa Fe LLC
5.75%, 5/1/2040		425		591
4.38%, 9/1/2042		375		464
5.15%, 9/1/2043		769		1,043
3.55%, 2/15/2050		465		529
CSX Corp.
5.50%, 4/15/2041		150		203
4.75%, 5/30/2042		191		241
4.75%, 11/15/2048		600		789
3.35%, 9/15/2049		95		102
JB Hunt Transport Services, Inc. 3.88%, 3/1/2026		515		559
Kansas City Southern 4.70%, 5/1/2048		712		904
Norfolk Southern Corp. 4.05%, 8/15/2052		600		729
Penske Truck Leasing Co. LP 4.13%, 8/1/2023 (a)		1,131		1,186
Triton Container International Ltd. (Bermuda) 1.15%, 6/7/2024 (a)		1,105		1,092
				8,432
Semiconductors & Semiconductor Equipment — 0.6%
Analog Devices, Inc. 2.80%, 10/1/2041		896		915
Broadcom, Inc.
1.95%, 2/15/2028 (a)		2,500		2,438
4.11%, 9/15/2028		1,425		1,559
3.14%, 11/15/2035 (a)		1,413		1,389
KLA Corp. 3.30%, 3/1/2050		600		650
Microchip Technology, Inc.
0.97%, 2/15/2024 (a)		1,290		1,278
0.98%, 9/1/2024 (a)		1,400		1,380
NXP BV (China)
2.50%, 5/11/2031 (a)		1,405		1,396
3.25%, 5/11/2041 (a)		1,445		1,472
Xilinx, Inc. 2.38%, 6/1/2030		895		914
				13,391
Software — 0.4%
Citrix Systems, Inc.
1.25%, 3/1/2026		375		363
Microsoft Corp.
3.50%, 2/12/2035		291		334
2.92%, 3/17/2052		1,118		1,191
3.04%, 3/17/2062		268		289
Oracle Corp.
2.30%, 3/25/2028		1,405		1,412
4.30%, 7/8/2034		82		93
3.80%, 11/15/2037		500		533
3.60%, 4/1/2040		1,600		1,657
3.65%, 3/25/2041		1,155		1,202
4.38%, 5/15/2055		900		1,034
VMware, Inc. 4.65%, 5/15/2027		550		622
				8,730
Specialty Retail — 0.2%
AutoZone, Inc. 1.65%, 1/15/2031		690		648
Lowe’s Cos., Inc.
3.65%, 4/5/2029		418		459
2.63%, 4/1/2031		2,760		2,822
O’Reilly Automotive, Inc. 3.60%, 9/1/2027		432		472
				4,401
Technology Hardware, Storage & Peripherals — 0.3%
Apple, Inc.
3.45%, 2/9/2045		1,130		1,266
3.85%, 8/4/2046		569		679
3.75%, 11/13/2047		150		179
2.70%, 8/5/2051		855		855
Dell International LLC
5.45%, 6/15/2023		289		307
6.02%, 6/15/2026		2,132		2,481
HP, Inc. 3.00%, 6/17/2027		665		700
				6,467
Thrifts & Mortgage Finance — 0.2%
BPCE SA (France)
4.63%, 7/11/2024 (a)		800		860
1.00%, 1/20/2026 (a)		1,005		976
(SOFR + 1.52%), 1.65%, 10/6/2026 (a) (c)		690		682
3.38%, 12/2/2026		400		429
(SOFR + 1.31%), 2.28%, 1/20/2032 (a) (c)		730		701
Nationwide Building Society (United Kingdom) 1.50%, 10/13/2026 (a)		1,000		983
				4,631
Tobacco — 0.2%
Altria Group, Inc. 2.45%, 2/4/2032		1,700		1,600
BAT Capital Corp. (United Kingdom)
2.26%, 3/25/2028		780		762
4.39%, 8/15/2037		1,095		1,163
3.73%, 9/25/2040		520		501
4.54%, 8/15/2047		265		278
3.98%, 9/25/2050		815		796

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Reynolds American, Inc. (United Kingdom) 7.00%, 8/4/2041		100		134
				5,234
Trading Companies & Distributors — 0.4%
Air Lease Corp.
3.38%, 7/1/2025		476		499
2.88%, 1/15/2026		1,000		1,026
3.75%, 6/1/2026		526		559
1.88%, 8/17/2026		960		945
3.25%, 10/1/2029		2,080		2,127
Aviation Capital Group LLC
3.88%, 5/1/2023 (a)		490		507
5.50%, 12/15/2024 (a)		1,047		1,153
BOC Aviation Ltd. (Singapore)
2.75%, 9/18/2022 (a)		450		455
3.50%, 10/10/2024 (a)		310		327
International Lease Finance Corp. 5.88%, 8/15/2022		506		524
				8,122
Water Utilities — 0.1%
American Water Capital Corp.
3.45%, 6/1/2029		795		867
3.45%, 5/1/2050		1,096		1,196
				2,063
Wireless Telecommunication Services — 0.5%
America Movil SAB de CV (Mexico)
3.63%, 4/22/2029		880		951
4.38%, 4/22/2049		441		544
T-Mobile USA, Inc.
3.75%, 4/15/2027		2,275		2,446
2.05%, 2/15/2028		1,550		1,527
3.88%, 4/15/2030		1,980		2,152
3.60%, 11/15/2060 (a)		915		911
Vodafone Group plc (United Kingdom)
5.25%, 5/30/2048		496		645
4.88%, 6/19/2049		1,105		1,382
				10,558
TOTAL CORPORATE BONDS (Cost $592,339)				621,441
U.S. TREASURY OBLIGATIONS — 24.6%
U.S. Treasury Bonds
5.00%, 5/15/2037		12,500		18,477
4.38%, 2/15/2038		447		626
4.25%, 5/15/2039		3,300		4,588
1.13%, 5/15/2040		11,555		10,249
4.38%, 5/15/2040		11,000		15,606
3.88%, 8/15/2040		21,115		28,233
1.88%, 2/15/2041		7,095		7,118
2.25%, 5/15/2041		14,355		15,279
2.75%, 11/15/2042		3,800		4,389
3.63%, 8/15/2043		5,214		6,865
3.75%, 11/15/2043		238		319
3.00%, 11/15/2044		8,200		9,945
2.88%, 8/15/2045		2,795		3,346
2.25%, 8/15/2046		13,193		14,254
3.00%, 2/15/2047		260		322
3.13%, 5/15/2048		3,757		4,808
2.25%, 8/15/2049		5,365		5,898
2.38%, 11/15/2049		3,700		4,178
2.00%, 2/15/2050		5,329		5,568
1.25%, 5/15/2050		6,080		5,317
1.38%, 8/15/2050		565		510
1.63%, 11/15/2050		8,800		8,438
1.88%, 2/15/2051		19,545		19,871
2.00%, 8/15/2051		11,100		11,624
U.S. Treasury Inflation Indexed Bonds
1.75%, 1/15/2028		300		474
3.63%, 4/15/2028		799		1,817
2.50%, 1/15/2029		300		493
U.S. Treasury Inflation Indexed Notes 0.13%, 1/15/2022		2,453		3,004
U.S. Treasury Notes
1.75%, 7/15/2022		5,000		5,049
1.63%, 8/31/2022		3,000		3,032
2.00%, 10/31/2022		1,650		1,676
1.50%, 2/28/2023		3,000		3,045
1.75%, 5/15/2023		2,221		2,265
2.13%, 3/31/2024		30,000		31,015
2.50%, 5/15/2024		8,840		9,226
1.88%, 8/31/2024		569		586
2.25%, 11/15/2024		400		417
1.75%, 12/31/2024		14,070		14,452
2.88%, 4/30/2025		21,212		22,589
2.13%, 5/15/2025		355		369
0.38%, 12/31/2025		10,000		9,721
0.38%, 1/31/2026		1,840		1,786
0.50%, 2/28/2026		7,870		7,675
2.50%, 2/28/2026		560		593
0.75%, 4/30/2026		1,130		1,112
0.88%, 6/30/2026		3,195		3,159
0.88%, 9/30/2026		21,000		20,729
1.75%, 12/31/2026		9,369		9,650
0.38%, 9/30/2027		4,690		4,460
0.75%, 1/31/2028		4,500		4,354
1.25%, 3/31/2028		9,800		9,763
1.25%, 4/30/2028		17,110		17,036
1.25%, 6/30/2028		9,947		9,889
1.00%, 7/31/2028		9,500		9,287
1.63%, 8/15/2029		130		133
0.63%, 8/15/2030		2,345		2,196
U.S. Treasury STRIPS Bonds
2.69%, 5/15/2022 (g)		9,795		9,791
3.25%, 8/15/2022 (g)		1,905		1,903
2.27%, 11/15/2022 (g)		18,375		18,348
3.73%, 2/15/2023 (g)		38,462		38,329
3.29%, 5/15/2023 (g)		14,070		13,998
2.45%, 8/15/2023 (g)		13,900		13,796
2.79%, 11/15/2023 (g)		1,052		1,041
1.88%, 2/15/2024 (g)		11,355		11,200
1.73%, 8/15/2024 (g)		20,600		20,166

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
7.75%, 5/15/2026 (g)		1,500		1,426
3.75%, 8/15/2026 (g)		1,592		1,506
2.48%, 11/15/2041 (g)		500		335
TOTAL U.S. TREASURY OBLIGATIONS (Cost $539,788)				548,719
MORTGAGE-BACKED SECURITIES — 15.5%
FHLMC
Pool # 846812, ARM, 2.37%, 4/1/2030 (h)		5		5
Pool # 781087, ARM, 2.36%, 12/1/2033 (h)		115		116
Pool # 1B1665, ARM, 2.07%, 4/1/2034 (h)		96		98
Pool # 847356, ARM, 2.69%, 12/1/2034 (h)		51		51
Pool # 782979, ARM, 2.37%, 1/1/2035 (h)		111		117
Pool # 1Q0025, ARM, 2.02%, 2/1/2036 (h)		37		39
Pool # 848431, ARM, 2.35%, 2/1/2036 (h)		57		60
Pool # 1L1286, ARM, 2.37%, 5/1/2036 (h)		12		13
Pool # 848365, ARM, 2.32%, 7/1/2036 (h)		58		61
Pool # 1G2539, ARM, 1.85%, 10/1/2036 (h)		11		11
Pool # 1A1096, ARM, 1.87%, 10/1/2036 (h)		101		106
Pool # 1J1348, ARM, 2.45%, 10/1/2036 (h)		65		66
Pool # 1G2671, ARM, 2.01%, 11/1/2036 (h)		83		84
Pool # 782760, ARM, 2.31%, 11/1/2036 (h)		92		99
Pool # 1J1634, ARM, 1.96%, 12/1/2036 (h)		67		70
Pool # 1Q0739, ARM, 2.08%, 3/1/2037 (h)		84		88
Pool # 848699, ARM, 2.12%, 7/1/2040 (h)		121		126
FHLMC Gold Pools, 20 Year Pool # C91403, 3.50%, 3/1/2032		144		153
FHLMC Gold Pools, 30 Year
Pool # C68485, 7.00%, 7/1/2032		17		19
Pool # G01448, 7.00%, 8/1/2032		37		43
Pool # A13625, 5.50%, 10/1/2033		159		184
Pool # A16107, 6.00%, 12/1/2033		66		74
Pool # A17537, 6.00%, 1/1/2034		72		84
Pool # A61572, 5.00%, 9/1/2034		435		495
Pool # A28796, 6.50%, 11/1/2034		90		104
Pool # G03369, 6.50%, 1/1/2035		178		198
Pool # A46987, 5.50%, 7/1/2035		370		423
Pool # G01919, 4.00%, 9/1/2035		183		199
Pool # C02641, 7.00%, 10/1/2036		50		57
Pool # C02660, 6.50%, 11/1/2036		116		136
Pool # A93383, 5.00%, 8/1/2040		265		302
Pool # A93511, 5.00%, 8/1/2040		282		321
Pool # G06493, 4.50%, 5/1/2041		1,131		1,250
Pool # Z40179, 4.00%, 7/1/2048		3,040		3,256
FHLMC Gold Pools, Other
Pool # P20570, 7.00%, 7/1/2029		37		41
Pool # G20027, 10.00%, 10/1/2030		6		7
Pool # U50105, 4.00%, 1/1/2032		321		344
Pool # U80254, 3.00%, 3/1/2033		293		307
Pool # P20409, 5.50%, 10/1/2033		80		87
Pool # U90975, 4.00%, 6/1/2042		1,084		1,179
Pool # U90673, 4.00%, 1/1/2043		307		335
Pool # U99134, 4.00%, 1/1/2046		5,895		6,428
Pool # U69030, 4.50%, 1/1/2046		2,163		2,380
FHLMC UMBS, 20 Year
Pool # SC0104, 3.50%, 8/1/2035		2,149		2,288
FNMA
Pool # 470623, ARM, 0.89%, 3/1/2022 (h)		807		806
Pool # 54844, ARM, 2.19%, 9/1/2027 (h)		9		9
Pool # 303532, ARM, 3.85%, 3/1/2029 (h)		6		6
Pool # 555258, ARM, 1.66%, 1/1/2033 (h)		241		242
Pool # 722421, ARM, 1.65%, 7/1/2033 (h)		13		13
Pool # 722985, ARM, 2.15%, 7/1/2033 (h)		16		16

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Pool # 686040, ARM, 2.26%, 7/1/2033 (h)		117			118
Pool # 746299, ARM, 2.06%, 9/1/2033 (h)		85			90
Pool # 749923, ARM, 2.28%, 11/1/2033 (h)		—	(i)		—	(i)
Pool # BS4198, IO, 2.16%, 12/1/2033 (j)		9,000			9,006
Pool # BS4237, IO, 2.16%, 12/1/2033 (j)		4,460			4,463
Pool # 766610, ARM, 1.96%, 1/1/2034 (h)		29			29
Pool # 920467, ARM, 2.50%, 2/1/2034 (h)		74			74
Pool # 770377, ARM, 1.62%, 4/1/2034 (h)		53			53
Pool # 751531, ARM, 2.33%, 5/1/2034 (h)		94			94
Pool # 782306, ARM, 2.17%, 7/1/2034 (h)		6			6
Pool # 790235, ARM, 1.90%, 8/1/2034 (h)		73			74
Pool # 735332, ARM, 2.27%, 8/1/2034 (h)		151			155
Pool # 791961, ARM, 1.44%, 9/1/2034 (h)		28			28
Pool # 725902, ARM, 1.91%, 9/1/2034 (h)		12			12
Pool # 803594, ARM, 1.77%, 10/1/2034 (h)		88			89
Pool # 803599, ARM, 1.83%, 10/1/2034 (h)		93			93
Pool # 896463, ARM, 2.42%, 10/1/2034 (h)		69			73
Pool # 806776, ARM, 1.68%, 11/1/2034 (h)		92			93
Pool # 806778, ARM, 1.73%, 11/1/2034 (h)		365			367
Pool # 810896, ARM, 1.68%, 1/1/2035 (h)		193			200
Pool # 802692, ARM, 2.00%, 1/1/2035 (h)		86			87
Pool # 816597, ARM, 1.92%, 2/1/2035 (h)		16			16
Pool # 735539, ARM, 2.33%, 4/1/2035 (h)		388			410
Pool # 745862, ARM, 2.35%, 4/1/2035 (h)		61			61
Pool # 821378, ARM, 1.53%, 5/1/2035 (h)		48			48
Pool # 823660, ARM, 1.97%, 5/1/2035 (h)		54			54
Pool # 745766, ARM, 1.85%, 6/1/2035 (h)		166			169
Pool # 843026, ARM, 1.66%, 9/1/2035 (h)		273			284
Pool # 832801, ARM, 1.90%, 9/1/2035 (h)		31			32
Pool # 849251, ARM, 1.99%, 1/1/2036 (h)		47			49
Pool # 895141, ARM, 1.82%, 7/1/2036 (h)		53			54
Pool # 900197, ARM, 2.32%, 10/1/2036 (h)		55			59
Pool # 966946, ARM, 2.16%, 1/1/2038 (h)		32			32
FNMA UMBS, 15 Year
Pool # 889634, 6.00%, 2/1/2023		28			29
Pool # 995381, 6.00%, 1/1/2024		12			12
Pool # 995425, 6.00%, 1/1/2024		29			30
Pool # AD0133, 5.00%, 8/1/2024		14			14
FNMA UMBS, 20 Year
Pool # 254305, 6.50%, 5/1/2022		1			1
Pool # 555791, 6.50%, 12/1/2022		3			3
Pool # 255217, 4.50%, 4/1/2024		9			10
Pool # 888656, 6.50%, 4/1/2025		9			10
Pool # MA1138, 3.50%, 8/1/2032		348			371
FNMA UMBS, 30 Year
Pool # 50966, 7.00%, 1/1/2024		1			1
Pool # 399269, 7.00%, 4/1/2026		3			3
Pool # 689977, 8.00%, 3/1/2027		26			29
Pool # 695533, 8.00%, 6/1/2027		11			11
Pool # 756024, 8.00%, 9/1/2028		32			34
Pool # 755973, 8.00%, 11/1/2028		72			81
Pool # 455759, 6.00%, 12/1/2028		7			8
Pool # 252211, 6.00%, 1/1/2029		12			14
Pool # 459097, 7.00%, 1/1/2029		4			4
Pool # 889020, 6.50%, 11/1/2029		191			214
Pool # 598559, 6.50%, 8/1/2031		25			29
Pool # 622542, 5.50%, 9/1/2031		174			198
Pool # 788150, 6.00%, 3/1/2032		23			25
Pool # 649734, 7.00%, 6/1/2032		11			11
Pool # 675555, 6.00%, 12/1/2032		40			45
Pool # AL0045, 6.00%, 12/1/2032		207			240

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # 674349, 6.00%, 3/1/2033		11		12
Pool # 688625, 6.00%, 3/1/2033		19		21
Pool # 688655, 6.00%, 3/1/2033		8		9
Pool # 695584, 6.00%, 3/1/2033		4		5
Pool # 702901, 6.00%, 5/1/2033		73		85
Pool # 723852, 5.00%, 7/1/2033		73		83
Pool # 729296, 5.00%, 7/1/2033		190		215
Pool # 729379, 6.00%, 8/1/2033		15		16
Pool # 737825, 6.00%, 9/1/2033		27		31
Pool # 750977, 4.50%, 11/1/2033		44		48
Pool # 725017, 5.50%, 12/1/2033		293		339
Pool # 751341, 5.50%, 3/1/2034		34		39
Pool # 888568, 5.00%, 12/1/2034		6		7
Pool # 815426, 4.50%, 2/1/2035		1		1
Pool # AD0755, 7.00%, 6/1/2035		2,095		2,452
Pool # 820347, 5.00%, 9/1/2035		51		58
Pool # 833657, 7.50%, 8/1/2036		28		31
Pool # 986648, 6.00%, 9/1/2037		96		113
Pool # 888892, 7.50%, 11/1/2037		28		33
Pool # 257510, 7.00%, 12/1/2038		95		118
Pool # AD0753, 7.00%, 1/1/2039		68		82
Pool # AT5891, 3.00%, 6/1/2043		2,118		2,258
Pool # AL7527, 4.50%, 9/1/2043		846		936
Pool # BM3500, 4.00%, 9/1/2047		2,451		2,673
Pool # BJ1778, 4.50%, 10/1/2047		779		843
Pool # BN9180, 4.00%, 6/1/2049		1,018		1,092
Pool # BK8753, 4.50%, 6/1/2049		1,508		1,639
Pool # BO1219, 4.50%, 6/1/2049		2,577		2,790
Pool # BO7077, 3.00%, 9/1/2049		2,492		2,607
FNMA, 30 Year
Pool # 535183, 8.00%, 6/1/2028		4		4
Pool # 252409, 6.50%, 3/1/2029		35		39
Pool # 653815, 7.00%, 2/1/2033		7		7
Pool # 752786, 6.00%, 9/1/2033		45		48
Pool # 931717, 6.50%, 8/1/2039		225		253
FNMA, Other
Pool # 470622, 2.75%, 3/1/2022		493		494
Pool # AM3789, 3.02%, 7/1/2023		2,138		2,194
Pool # AM4066, 3.59%, 8/1/2023		2,500		2,586
Pool # AM4628, 3.69%, 11/1/2023		1,437		1,496
Pool # AM4668, 3.76%, 11/1/2023		1,882		1,961
Pool # AM4716, 3.38%, 12/1/2023		1,869		1,939
Pool # AM7589, 2.95%, 12/1/2024		1,490		1,563
Pool # AM7290, 2.97%, 12/1/2024		3,349		3,510
Pool # AM7576, 3.04%, 12/1/2024		3,873		4,073
Pool # AM7124, 3.11%, 12/1/2024		2,418		2,548
Pool # 470300, 3.64%, 1/1/2025		871		929
Pool # AM3833, 3.25%, 7/1/2025		3,424		3,645
Pool # AM4991, 3.97%, 12/1/2025		1,647		1,797
Pool # AL6805, 3.78%, 1/1/2026 (h)		3,362		3,649
Pool # 468645, 4.54%, 7/1/2026		2,481		2,794
Pool # AM6448, 3.25%, 9/1/2026		9,442		10,183
Pool # AM7223, 3.11%, 12/1/2026		3,336		3,579
Pool # AM7118, 3.14%, 12/1/2026		2,657		2,857
Pool # AM7390, 3.26%, 12/1/2026		3,653		3,938
Pool # AM7515, 3.34%, 2/1/2027		3,000		3,251
Pool # AM8803, 2.78%, 6/1/2027		4,728		5,026
Pool # AM8987, 2.79%, 6/1/2027		1,757		1,868
Pool # BL1040, 3.81%, 12/1/2028		3,000		3,414

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Pool # BL4364, 2.24%, 11/1/2029		5,456			5,692
Pool # BL4333, 2.52%, 11/1/2029		6,094			6,466
Pool # AM7785, 3.17%, 2/1/2030		2,803			3,078
Pool # AM7516, 3.55%, 2/1/2030		2,000			2,224
Pool # AM8544, 3.08%, 4/1/2030		7,485			8,140
Pool # AM8889, 2.92%, 5/1/2030		8,000			8,717
Pool # AM8804, 3.10%, 5/1/2030		3,565			3,884
Pool # AM9020, 2.97%, 6/1/2030		3,757			4,061
Pool # BL9251, 1.45%, 10/1/2030		4,500			4,399
Pool # BL4315, 2.39%, 9/1/2031		4,538			4,768
Pool # AP9632, 4.00%, 10/1/2032		229			248
Pool # AP9762, 4.00%, 10/1/2032		368			397
Pool # AQ7084, 3.50%, 12/1/2032		502			538
Pool # AT2703, 3.50%, 5/1/2033		871			934
Pool # AT2954, 3.50%, 5/1/2033		600			643
Pool # AT4180, 3.50%, 5/1/2033		533			571
Pool # AT4939, 3.50%, 5/1/2033		560			600
Pool # 754922, 5.50%, 9/1/2033		65			73
Pool # 762520, 4.00%, 11/1/2033		269			283
Pool # AM8922, 3.03%, 6/1/2035		2,564			2,771
Pool # AM9188, 3.12%, 6/1/2035		7,000			7,842
Pool # 849215, 6.50%, 1/1/2036		19			20
Pool # 872740, 6.50%, 6/1/2036		47			50
Pool # 886320, 6.50%, 7/1/2036		17			18
Pool # 888796, 6.00%, 9/1/2037		62			69
Pool # AO7225, 4.00%, 7/1/2042		323			350
Pool # AO9352, 4.00%, 7/1/2042		505			551
Pool # MA1125, 4.00%, 7/1/2042		490			530
Pool # AR1397, 3.00%, 1/1/2043		974			1,033
Pool # MA1711, 4.50%, 12/1/2043		1,855			2,042
Pool # MA1828, 4.50%, 3/1/2044		1,453			1,609
Pool # BF0464, 3.50%, 3/1/2060		3,680			3,984
FNMA/FHLMC UMBS, Single Family, 30 Year TBA, 2.50%, 2/25/2052 (j)		71,605			73,057
GNMA I, 30 Year
Pool # 345288, 7.50%, 3/15/2023		—	(i)		—	(i)
Pool # 782507, 9.50%, 10/15/2024		—	(i)		—	(i)
Pool # 554108, 6.50%, 3/15/2028		36			40
Pool # 481872, 7.50%, 7/15/2028		3			3
Pool # 468149, 8.00%, 8/15/2028		2			2
Pool # 486537, 7.50%, 9/15/2028		8			8
Pool # 486631, 6.50%, 10/15/2028		3			4
Pool # 591882, 6.50%, 7/15/2032		13			14
Pool # 607645, 6.50%, 2/15/2033		29			32
Pool # 607724, 7.00%, 2/15/2033		32			36
Pool # 604209, 6.50%, 4/15/2033		35			39
Pool # 781614, 7.00%, 6/15/2033		52			61
Pool # BM2141, 5.00%, 7/15/2049		670			773
GNMA II
Pool # CE5524, ARM, 1.92%, 8/20/2071 (h)		2,648			2,880
Pool # CE5546, ARM, 1.86%, 10/20/2071 (h)		4,851			5,258
GNMA II, 30 Year
Pool # 2006, 8.50%, 5/20/2025		3			3
Pool # 2141, 8.00%, 12/20/2025		1			1
Pool # 2234, 8.00%, 6/20/2026		3			3
Pool # 2270, 8.00%, 8/20/2026		2			2
Pool # 2285, 8.00%, 9/20/2026		2			2
Pool # 2324, 8.00%, 11/20/2026		2			3
Pool # 2499, 8.00%, 10/20/2027		4			4
Pool # 2512, 8.00%, 11/20/2027		5			5
Pool # 2525, 8.00%, 12/20/2027		2			2

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Pool # 2549, 7.50%, 2/20/2028		4		4
Pool # 2646, 7.50%, 9/20/2028		8		9
Pool # 2647, 8.00%, 9/20/2028		1		1
Pool # 3427, 4.50%, 8/20/2033		66		73
Pool # 4245, 6.00%, 9/20/2038		473		543
Pool # AK8806, 4.25%, 3/20/2045		1,302		1,444
Pool # BM2118, 4.50%, 6/20/2049		155		164
Pool # BO0535, 4.00%, 7/20/2049		1,307		1,397
Pool # BO8227, 5.00%, 7/20/2049		902		998
Pool # BO8228, 5.00%, 7/20/2049		199		217
Pool # BO8229, 5.00%, 7/20/2049		1,010		1,122
Pool # BM9734, 4.00%, 10/20/2049		2,619		2,810
Pool # BQ4115, 3.00%, 3/20/2050		4,568		4,740
Pool # 785294, 3.50%, 1/20/2051		4,624		5,053
Pool # CB1543, 3.00%, 2/20/2051		2,847		3,007
Pool # MA7534, 2.50%, 8/20/2051		29,605		30,452
Pool # MA7649, 2.50%, 10/20/2051		5,303		5,455
GNMA II, Other Pool # AC0973, 4.39%, 5/20/2063 (h)		8		8
TOTAL MORTGAGE-BACKED SECURITIES (Cost $336,011)				345,490
COLLATERALIZED MORTGAGE OBLIGATIONS — 11.3%
ACC Series 2019-AA, 3.68%, 9/15/2022 ‡		3,151		3,151
Alternative Loan Trust
Series 2004-2CB, Class 1A9, 5.75%, 3/25/2034		3,458		3,550
Series 2005-1CB, Class 1A6, IF, IO, 7.01%, 3/25/2035 ‡ (h)		464		66
Series 2005-22T1, Class A2, IF, IO, 4.98%, 6/25/2035 ‡ (h)		3,206		473
Series 2005-20CB, Class 3A8, IF, IO, 4.66%, 7/25/2035 ‡ (h)		1,254		158
Series 2005-28CB, Class 1A4, 5.50%, 8/25/2035		1,239		1,250
Series 2005-28CB, Class 3A5, 6.00%, 8/25/2035		58		37
Series 2005-37T1, Class A2, IF, IO, 4.96%, 9/25/2035 ‡ (h)		2,313		334
Series 2005-54CB, Class 1A2, IF, IO, 4.76%, 11/25/2035 ‡ (h)		2,030		286
Series 2005-54CB, Class 1A11, 5.50%, 11/25/2035		807		750
Series 2005-57CB, Class 3A2, IF, IO, 5.01%, 12/25/2035 ‡ (h)		501		61
Series 2005-64CB, Class 1A9, 5.50%, 12/25/2035		370		373
Series 2006-26CB, Class A9, 6.50%, 9/25/2036		893		639
Banc of America Alternative Loan Trust
Series 2004-6, Class 15, PO, 7/25/2019 ‡		6		4
Series 2006-4, Class 1A4, 6.00%, 5/25/2046		274		279
Banc of America Funding Trust
Series 2004-1, PO, 3/25/2034 ‡		76		61
Series 2004-2, Class 30, PO, 9/20/2034 ‡		81		67
Series 2005-6, Class 2A7, 5.50%, 10/25/2035		149		151
Series 2005-7, Class 30, PO, 11/25/2035 ‡		102		101
Series 2005-8, Class 30, PO, 1/25/2036 ‡		40		29
Series 2006-A, Class 3A2, 2.74%, 2/20/2036 (h)		129		126
Banc of America Mortgage Trust Series 2004-A, Class 2A2, 2.54%, 2/25/2034 (h)		30		31
Bayview Financing Trust Series 2020-3F, Class A, 3.08%, 11/10/2022 (a) (h)		2,394		2,394
Bear Stearns ARM Trust
Series 2003-7, Class 3A, 2.49%, 10/25/2033 (h)		16		16
Series 2004-1, Class 12A1, 2.82%, 4/25/2034 (h)		188		189
Series 2004-2, Class 14A, 2.87%, 5/25/2034 (h)		24		24
Series 2006-1, Class A1, 2.40%, 2/25/2036 (h)		359		365
CHL Mortgage Pass-Through Trust
Series 2004-8, Class 2A1, 4.50%, 6/25/2019		2		—	(i)
Series 2004-HYB1, Class 2A, 2.56%, 5/20/2034 (h)		33		34
Series 2004-HYB3, Class 2A, 1.96%, 6/20/2034 (h)		143		146
Series 2004-7, Class 2A1, 2.47%, 6/25/2034 (h)		103		105

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 2004-HYB6, Class A3, 2.53%, 11/20/2034 (h)		140			145
Series 2005-16, Class A23, 5.50%, 9/25/2035		233			201
Series 2005-22, Class 2A1, 2.47%, 11/25/2035 (h)		690			658
Citicorp Mortgage Securities REMIC Pass-Through Certificates Trust
Series 2005-5, Class A, PO, 8/25/2035 ‡		33			28
Series 2005-8, Class A, PO, 11/25/2035 ‡		54			44
Citigroup Global Markets Mortgage Securities VII, Inc.
Series 2003-UP2, Class 1, PO, 12/25/2018 ‡		1			1
Series 2003-HYB1, Class A, 2.24%, 9/25/2033 (h)		17			18
Citigroup Mortgage Loan Trust Series 2015-A, Class B2, 4.50%, 6/25/2058 (a) (h)		324			335
Citigroup Mortgage Loan Trust, Inc.
Series 2003-1, Class 3, PO, 9/25/2033 ‡		24			21
Series 2003-UP3, Class A3, 7.00%, 9/25/2033		9			10
Series 2003-1, Class 2, PO, 10/25/2033 ‡		1			1
Series 2003-1, Class 2A6, PO, 10/25/2033 ‡		9			8
Series 2003-1, Class 2A5, 5.25%, 10/25/2033		16			17
Series 2004-UST1, Class A6, 1.95%, 8/25/2034 (h)		12			11
Series 2005-1, Class 2A1A, 2.24%, 2/25/2035 (h)		147			141
Series 2005-2, Class 2A11, 5.50%, 5/25/2035		131			136
Series 2005-5, Class 1A2, 2.94%, 8/25/2035 (h)		193			164
Conix Mortgage Asset Trust Series 2013-1, Class A, 0.00%, 12/25/2047 ‡ (h) (k)		1,079			17
Credit Suisse First Boston Mortgage Securities Corp. (Switzerland)
Series 2003-1, Class DB1, 6.70%, 2/25/2033 (h)		221			237
Series 2003-21, Class 1A4, 5.25%, 9/25/2033		50			52
Series 2003-25, Class 1P, PO, 10/25/2033 ‡		103			89
CSFB Mortgage-Backed Pass-Through Certificates
Series 2005-4, Class 3A18, 5.50%, 6/25/2035		676			682
Series 2005-4, Class 3A23, 5.50%, 6/25/2035		1,425			1,439
CSMC Trust Series 2021-RPL1, Class A1, 1.67%, 9/27/2060 (a) (h)		6,694			6,667
FHLMC - GNMA Series 8, Class ZA, 7.00%, 3/25/2023		5			5
FHLMC, REMIC
Series 1250, Class J, 7.00%, 5/15/2022		—	(i)		—	(i)
Series 1343, Class LB, 7.50%, 8/15/2022		1			1
Series 1343, Class LA, 8.00%, 8/15/2022		—	(i)		—	(i)
Series 1370, Class JA, 1.24%, 9/15/2022 (h)		1			1
Series 2512, Class PG, 5.50%, 10/15/2022		14			14
Series 1455, Class WB, IF, 4.63%, 12/15/2022 (h)		2			2
Series 2535, Class BK, 5.50%, 12/15/2022		5			5
Series 1470, Class F, 1.24%, 2/15/2023 (h)		—	(i)		—	(i)
Series 2568, Class KG, 5.50%, 2/15/2023		23			24
Series 1466, Class PZ, 7.50%, 2/15/2023		9			9
Series 1498, Class I, 1.24%, 4/15/2023 (h)		12			12
Series 1502, Class PX, 7.00%, 4/15/2023		18			18
Series 1798, Class F, 5.00%, 5/15/2023		15			15
Series 1505, Class Q, 7.00%, 5/15/2023		2			2
Series 1518, Class G, IF, 8.85%, 5/15/2023 (h)		5			5
Series 1541, Class O, 0.81%, 7/15/2023 (h)		5			5
Series 2638, Class DS, IF, 8.51%, 7/15/2023 (h)		3			3
Series 1541, Class M, HB, IF, 26.54%, 7/15/2023 (h)		2			2
Series 1570, Class F, 1.73%, 8/15/2023 (h)		—	(i)		—	(i)
Series 1608, Class L, 6.50%, 9/15/2023		58			61
Series 1573, Class PZ, 7.00%, 9/15/2023		16			17
Series 2571, Class SK, HB, IF, 34.12%, 9/15/2023 (h)		7			9
Series 1591, Class PV, 6.25%, 10/15/2023		10			11
Series 1602, Class SA, HB, IF, 22.46%, 10/15/2023 (h)		6			7
Series 2710, Class HB, 5.50%, 11/15/2023		83			85
Series 1642, Class PJ, 6.00%, 11/15/2023		27			28
Series 2716, Class UN, 4.50%, 12/15/2023		59			61

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 1638, Class H, 6.50%, 12/15/2023		42			44
Series 2283, Class K, 6.50%, 12/15/2023		15			16
Series 1700, Class GA, PO, 2/15/2024		—	(i)		—	(i)
Series 1865, Class D, PO, 2/15/2024		20			20
Series 1760, Class ZD, 1.15%, 2/15/2024 (h)		46			46
Series 1671, Class QC, IF, 10.00%, 2/15/2024 (h)		7			8
Series 1686, Class SH, IF, 19.04%, 2/15/2024 (h)		1			1
Series 1699, Class FC, 0.69%, 3/15/2024 (h)		2			2
Series 1709, Class FA, 0.80%, 3/15/2024 (h)		1			1
Series 1695, Class EB, 7.00%, 3/15/2024		9			9
Series 1706, Class K, 7.00%, 3/15/2024		25			27
Series 2033, Class SN, HB, IF, 30.42%, 3/15/2024 (h)		4			1
Series 2306, Class K, PO, 5/15/2024		5			5
Series 2306, Class SE, IF, IO, 8.95%, 5/15/2024 (h)		12			1
Series 1745, Class D, 7.50%, 8/15/2024		8			9
Series 3720, Class A, 4.50%, 9/15/2025		55			58
Series 3131, Class BK, 5.50%, 3/15/2026		219			232
Series 1829, Class ZB, 6.50%, 3/15/2026		5			5
Series 1863, Class Z, 6.50%, 7/15/2026		6			6
Series 1890, Class H, 7.50%, 9/15/2026		8			9
Series 1899, Class ZE, 8.00%, 9/15/2026		29			33
Series 3229, Class HE, 5.00%, 10/15/2026		220			232
Series 1963, Class Z, 7.50%, 1/15/2027		24			27
Series 1935, Class FL, 0.79%, 2/15/2027 (h)		2			2
Series 1981, Class Z, 6.00%, 5/15/2027		34			37
Series 1970, Class PG, 7.25%, 7/15/2027		2			3
Series 1987, Class PE, 7.50%, 9/15/2027		15			17
Series 2019, Class Z, 6.50%, 12/15/2027		32			36
Series 2038, Class PN, IO, 7.00%, 3/15/2028		27			3
Series 2040, Class PE, 7.50%, 3/15/2028		51			58
Series 4251, Class KW, 2.50%, 4/15/2028		3,684			3,790
Series 2043, Class CJ, 6.50%, 4/15/2028		8			9
Series 2054, Class PV, 7.50%, 5/15/2028		40			46
Series 2075, Class PM, 6.25%, 8/15/2028		93			102
Series 2075, Class PH, 6.50%, 8/15/2028		82			92
Series 2086, Class GB, 6.00%, 9/15/2028		20			22
Series 2089, Class PJ, IO, 7.00%, 10/15/2028		39			4
Series 2095, Class PE, 6.00%, 11/15/2028		101			112
Series 2125, Class JZ, 6.00%, 2/15/2029		36			39
Series 2136, Class PG, 6.00%, 3/15/2029		41			46
Series 2132, Class SB, HB, IF, 30.18%, 3/15/2029 (h)		8			11
Series 2141, IO, 7.00%, 4/15/2029		11			1
Series 2169, Class TB, 7.00%, 6/15/2029		144			163
Series 2163, Class PC, IO, 7.50%, 6/15/2029		14			1
Series 2172, Class QC, 7.00%, 7/15/2029		96			110
Series 2176, Class OJ, 7.00%, 8/15/2029		68			79
Series 2201, Class C, 8.00%, 11/15/2029		32			36
Series 2209, Class TC, 8.00%, 1/15/2030		36			42
Series 2210, Class Z, 8.00%, 1/15/2030		71			83
Series 2224, Class CB, 8.00%, 3/15/2030		17			20
Series 2230, Class Z, 8.00%, 4/15/2030		43			50
Series 2234, Class PZ, 7.50%, 5/15/2030		31			37
Series 2247, Class Z, 7.50%, 8/15/2030		33			38
Series 2256, Class MC, 7.25%, 9/15/2030		44			52
Series 2259, Class ZM, 7.00%, 10/15/2030		63			73
Series 2262, Class Z, 7.50%, 10/15/2030		8			9
Series 2271, Class PC, 7.25%, 12/15/2030		73			85
Series 2296, Class PD, 7.00%, 3/15/2031		41			48

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2313, Class LA, 6.50%, 5/15/2031		30		34
Series 2325, Class PM, 7.00%, 6/15/2031		38		45
Series 2359, Class ZB, 8.50%, 6/15/2031		114		136
Series 2344, Class ZD, 6.50%, 8/15/2031		373		425
Series 2344, Class ZJ, 6.50%, 8/15/2031		36		42
Series 2345, Class NE, 6.50%, 8/15/2031		28		32
Series 2351, Class PZ, 6.50%, 8/15/2031		29		33
Series 2353, Class AZ, 6.00%, 9/15/2031		215		238
Series 2367, Class ME, 6.50%, 10/15/2031		67		75
Series 2396, Class FM, 0.54%, 12/15/2031 (h)		93		94
Series 2399, Class OH, 6.50%, 1/15/2032		81		90
Series 2399, Class TH, 6.50%, 1/15/2032		105		121
Series 2410, Class OE, 6.38%, 2/15/2032		25		26
Series 2410, Class NG, 6.50%, 2/15/2032		92		106
Series 2420, Class XK, 6.50%, 2/15/2032		143		165
Series 2464, Class SI, IF, IO, 7.91%, 2/15/2032 (h)		181		29
Series 2410, Class QX, IF, IO, 8.56%, 2/15/2032 (h)		41		7
Series 2412, Class SP, IF, 15.92%, 2/15/2032 (h)		77		99
Series 2410, Class QS, IF, 19.27%, 2/15/2032 (h)		72		100
Series 2430, Class WF, 6.50%, 3/15/2032		181		210
Series 2423, Class MC, 7.00%, 3/15/2032		106		124
Series 2423, Class MT, 7.00%, 3/15/2032		92		108
Series 2444, Class ES, IF, IO, 7.86%, 3/15/2032 (h)		71		12
Series 2450, Class SW, IF, IO, 7.91%, 3/15/2032 (h)		57		9
Series 2435, Class CJ, 6.50%, 4/15/2032		124		142
Series 2434, Class TC, 7.00%, 4/15/2032		103		121
Series 2436, Class MC, 7.00%, 4/15/2032		62		70
Series 2455, Class GK, 6.50%, 5/15/2032		212		239
Series 2450, Class GZ, 7.00%, 5/15/2032		60		71
Series 2462, Class JG, 6.50%, 6/15/2032		93		107
Series 2466, Class PH, 6.50%, 6/15/2032		148		170
Series 2474, Class NR, 6.50%, 7/15/2032		90		102
Series 2484, Class LZ, 6.50%, 7/15/2032		105		123
Series 2500, Class MC, 6.00%, 9/15/2032		107		122
Series 2835, Class QO, PO, 12/15/2032		14		13
Series 2543, Class YX, 6.00%, 12/15/2032		184		209
Series 2544, Class HC, 6.00%, 12/15/2032		127		149
Series 2552, Class ME, 6.00%, 1/15/2033		218		250
Series 2567, Class QD, 6.00%, 2/15/2033		236		272
Series 2575, Class ME, 6.00%, 2/15/2033		533		608
Series 2596, Class QG, 6.00%, 3/15/2033		130		145
Series 2586, Class WI, IO, 6.50%, 3/15/2033		63		12
Series 2692, Class SC, IF, 13.11%, 7/15/2033 (h)		36		46
Series 4240, Class B, 3.00%, 8/15/2033		2,501		2,677
Series 3920, Class LP, 5.00%, 1/15/2034		514		573
Series 2744, Class PE, 5.50%, 2/15/2034		8		8
Series 3611, PO, 7/15/2034		34		32
Series 2990, Class UZ, 5.75%, 6/15/2035		1,313		1,494
Series 3004, Class EK, 5.50%, 7/15/2035		1,233		1,471
Series 3014, Class OD, PO, 8/15/2035		37		33
Series 3085, Class WF, 0.89%, 8/15/2035 (h)		87		89
Series 3047, Class OD, 5.50%, 10/15/2035		625		690
Series 3074, Class BH, 5.00%, 11/15/2035		194		210
Series 3064, Class MC, 5.50%, 11/15/2035		3,095		3,574
Series 3102, Class FB, 0.39%, 1/15/2036 (h)		84		84
Series 3102, Class HS, HB, IF, 24.24%, 1/15/2036 (h)		24		33
Series 3117, Class EO, PO, 2/15/2036		223		206
Series 3117, Class OK, PO, 2/15/2036		132		122
Series 3134, PO, 3/15/2036		32		30

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 3152, Class MO, PO, 3/15/2036		175		163
Series 3122, Class ZB, 6.00%, 3/15/2036		27		40
Series 3138, PO, 4/15/2036		140		128
Series 3607, Class BO, PO, 4/15/2036		73		68
Series 3219, Class DI, IO, 6.00%, 4/15/2036		112		23
Series 3819, Class ZQ, 6.00%, 4/15/2036		679		792
Series 3149, Class SO, PO, 5/15/2036		25		22
Series 3233, Class OP, PO, 5/15/2036		45		41
Series 3171, Class MO, PO, 6/15/2036		26		25
Series 3179, Class OA, PO, 7/15/2036		129		116
Series 3194, Class SA, IF, IO, 7.01%, 7/15/2036 (h)		28		6
Series 3211, Class SO, PO, 9/15/2036		155		144
Series 3218, Class AO, PO, 9/15/2036		72		61
Series 3232, Class ST, IF, IO, 6.61%, 10/15/2036 (h)		146		29
Series 3256, PO, 12/15/2036		98		90
Series 3261, Class OA, PO, 1/15/2037		120		109
Series 3260, Class CS, IF, IO, 6.05%, 1/15/2037 (h)		198		37
Series 3274, Class JO, PO, 2/15/2037		27		26
Series 3275, Class FL, 0.53%, 2/15/2037 (h)		31		31
Series 3290, Class SB, IF, IO, 6.36%, 3/15/2037 (h)		256		51
Series 3318, Class AO, PO, 5/15/2037		6		6
Series 3607, PO, 5/15/2037		147		133
Series 3315, Class HZ, 6.00%, 5/15/2037		152		173
Series 3326, Class JO, PO, 6/15/2037		9		8
Series 3331, PO, 6/15/2037		103		95
Series 3607, Class OP, PO, 7/15/2037		334		299
Series 4048, Class FJ, 0.49%, 7/15/2037 (h)		434		434
Series 3385, Class SN, IF, IO, 5.91%, 11/15/2037 (h)		30		4
Series 3387, Class SA, IF, IO, 6.33%, 11/15/2037 (h)		150		27
Series 3422, Class AI, IO, 0.25%, 1/15/2038 (d)		893		6
Series 3404, Class SC, IF, IO, 5.91%, 1/15/2038 (h)		265		47
Series 3424, Class PI, IF, IO, 6.71%, 4/15/2038 (h)		201		45
Series 3481, Class SJ, IF, IO, 5.76%, 8/15/2038 (h)		286		52
Series 3511, Class SA, IF, IO, 5.91%, 2/15/2039 (h)		204		36
Series 3549, Class FA, 1.29%, 7/15/2039 (h)		21		21
Series 3621, Class BO, PO, 1/15/2040		104		96
Series 3747, Class PY, 4.00%, 10/15/2040		1,000		1,104
Series 3925, Class FL, 0.54%, 1/15/2041 (h)		143		144
Series 3852, Class QN, IF, 5.50%, 5/15/2041 (h)		120		129
Series 3852, Class TP, IF, 5.50%, 5/15/2041 (h)		317		343
Series 3957, Class B, 4.00%, 11/15/2041		119		129
Series 3966, Class NA, 4.00%, 12/15/2041		314		344
Series 4217, Class KY, 3.00%, 6/15/2043		2,000		2,131
FHLMC, STRIPS
Series 233, Class 11, IO, 5.00%, 9/15/2035		231		42
Series 233, Class 13, IO, 5.00%, 9/15/2035		338		61
Series 299, Class 300, 3.00%, 1/15/2043		1,748		1,802
Series 310, PO, 9/15/2043		827		717
Series 323, Class 300, 3.00%, 1/15/2044		1,407		1,464
FHLMC, Structured Pass-Through Certificates, Whole Loan
Series T-41, Class 3A, 4.76%, 7/25/2032 (h)		238		261
Series T-76, Class 2A, 1.60%, 10/25/2037 (h)		632		613
Series T-51, Class 2A, 7.50%, 8/25/2042 (h)		167		217
Series T-54, Class 2A, 6.50%, 2/25/2043		949		1,118
Series T-54, Class 3A, 7.00%, 2/25/2043		261		311
Series T-58, Class A, PO, 9/25/2043		83		69
Series T-59, Class 1AP, PO, 10/25/2043		197		135
First Horizon Alternative Mortgage Securities Trust
Series 2004-AA4, Class A1, 2.33%, 10/25/2034 (h)		137		141
Series 2005-FA8, Class 1A19, 5.50%, 11/25/2035		420		295
Series 2007-FA4, Class 1A2, IF, IO, 5.56%, 8/25/2037 ‡ (h)		943		202
FMC GMSR Issuer Trust 3.69%, 2/25/2024		7,325		7,179

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 2020-GT1, Class A, 4.45%, 1/25/2026 (a) (h)		5,000			5,012
Series 2021-GT1, Class A, 3.62%, 7/25/2026 (a ) (h)		4,300			4,261
Series 2021-GT2, Class A, 3.85%, 10/25/2026 (a) (h)		3,370			3,365
FNMA Trust, Whole Loan
Series 2004-W1, Class 2A2, 7.00%, 12/25/2033		78			90
Series 2004-W2, Class 2A2, 7.00%, 2/25/2044		154			178
Series 2004-W15, Class 2AF, 0.34%, 8/25/2044 (h)		220			219
Series 2005-W3, Class 2AF, 0.31%, 3/25/2045 (h)		619			617
Series 2006-W2, Class 1AF1, 0.31%, 2/25/2046 (h)		198			198
FNMA, Grantor Trust, Whole Loan
Series 2002-T19, Class A2, 7.00%, 7/25/2042		460			540
Series 2004-T3, Class 1A3, 7.00%, 2/25/2044		245			286
FNMA, REMIC
Series 2002-1, Class HC, 6.50%, 2/25/2022		—	(i)		—	(i)
Series 2007-15, Class NO, PO, 3/25/2022		—	(i)		—	(i)
Series 1992-101, Class J, 7.50%, 6/25/2022		—	(i)		—	(i)
Series G92-42, Class Z, 7.00%, 7/25/2022		—	(i)		—	(i)
Series G92-35, Class E, 7.50%, 7/25/2022		1			1
Series G92-35, Class G, HB, 1,184.78%, 7/25/2022		—	(i)		—	(i)
Series 1992-136, Class PK, 6.00%, 8/25/2022		1			1
Series 1996-59, Class J, 6.50%, 8/25/2022		1			1
Series G92-52, Class FD, 0.11%, 9/25/2022 (h)		—	(i)		—	(i)
Series 1992-143, Class MA, 5.50%, 9/25/2022		1			1
Series G92-54, Class ZQ, 7.50%, 9/25/2022		—	(i)		—	(i)
Series 1992-163, Class M, 7.75%, 9/25/2022		1			2
Series G92-62, Class B, PO, 10/25/2022		1			1
Series G92-59, Class F, 0.92%, 10/25/2022 (h)		—	(i)		—	(i)
Series G92-61, Class Z, 7.00%, 10/25/2022		—	(i)		—	(i)
Series 1992-188, Class PZ, 7.50%, 10/25/2022		6			6
Series G93-1, Class KA, 7.90%, 1/25/2023		3			3
Series G93-5, Class Z, 6.50%, 2/25/2023		1			1
Series 1997-61, Class ZC, 7.00%, 2/25/2023		24			25
Series 1993-27, Class SA, IF, 15.50%, 2/25/2023 (h)		1			1
Series G93-14, Class J, 6.50%, 3/25/2023		2			2
Series 1993-25, Class J, 7.50%, 3/25/2023		5			5
Series 1993-21, Class KA, 7.70%, 3/25/2023		3			3
Series 1998-4, Class C, PO, 4/25/2023		1			1
Series G93-17, Class SI, IF, 6.00%, 4/25/2023 (h)		4			4
Series 1998-43, Class SA, IF, IO, 18.87%, 4/25/2023 (h)		5			—	(i)
Series 1993-62, Class SA, HB, IF, 20.01%, 4/25/2023 (h)		2			2
Series 2003-39, Class LW, 5.50%, 5/25/2023		54			55
Series 2003-41, Class PE, 5.50%, 5/25/2023		22			23
Series 2008-47, Class SI, IF, IO, 6.41%, 6/25/2023 (h)		—	(i)		—	(i)
Series G93-27, Class FD, 0.97%, 8/25/2023 (h)		3			3
Series 2002-83, Class CS, 6.88%, 8/25/2023		40			41
Series 1999-38, Class SK, IF, IO, 7.96%, 8/25/2023 (h)		—	(i)		—	(i)
Series 1996-14, Class SE, IF, IO, 9.10%, 8/25/2023 (h)		20			1
Series 1993-205, Class H, PO, 9/25/2023		3			3
Series G93-37, Class H, PO, 9/25/2023		1			1
Series 1993-165, Class SK, IF, 12.50%, 9/25/2023 (h)		3			3
Series 1993-165, Class SD, IF, 14.38%, 9/25/2023 (h)		1			1
Series 1993-179, Class SC, IF, 10.50%, 10/25/2023 (h)		1			1
Series 1999-52, Class NS, HB, IF, 23.12%, 10/25/2023 (h)		4			4
Series 1993-179, Class SB, HB, IF, 28.77%, 10/25/2023 (h)		2			2
Series 1995-19, Class Z, 6.50%, 11/25/2023		25			26
Series 1993-230, Class FA, 0.69%, 12/25/2023 (h)		3			3
Series 1993-247, Class FE, 1.09%, 12/25/2023 (h)		5			5
Series 1993-225, Class UB, 6.50%, 12/25/2023		7			7

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 1993-247, Class SU, IF, 12.72%, 12/25/2023 (h)		2		3
Series 2002-1, Class UD, HB, IF, 24.18%, 12/25/2023 (h)		5		6
Series 1994-37, Class L, 6.50%, 3/25/2024		21		22
Series 1994-40, Class Z, 6.50%, 3/25/2024		133		140
Series 2004-53, Class NC, 5.50%, 7/25/2024		18		18
Series 1995-2, Class Z, 8.50%, 1/25/2025		6		7
Series G95-1, Class C, 8.80%, 1/25/2025		7		7
Series 1997-20, IO, 1.84%, 3/25/2027 (h)		9		—	(i)
Series 1997-27, Class J, 7.50%, 4/18/2027		5		5
Series 1997-29, Class J, 7.50%, 4/20/2027		10		11
Series 1997-39, Class PD, 7.50%, 5/20/2027		56		63
Series 1997-42, Class ZC, 6.50%, 7/18/2027		4		5
Series 1997-81, Class PI, IO, 7.00%, 12/18/2027		16		1
Series 1998-36, Class ZB, 6.00%, 7/18/2028		23		25
Series 1998-66, Class SB, IF, IO, 8.06%, 12/25/2028 (h)		2		—	(i)
Series 1999-18, Class Z, 5.50%, 4/18/2029		32		34
Series 1999-17, Class C, 6.35%, 4/25/2029		17		19
Series 1999-62, Class PB, 7.50%, 12/18/2029		27		31
Series 2000-2, Class ZE, 7.50%, 2/25/2030		90		104
Series 2013-103, Class VG, 3.00%, 3/25/2030		1,195		1,199
Series 2000-20, Class SA, IF, IO, 9.01%, 7/25/2030 (h)		39		4
Series 2000-52, IO, 8.50%, 1/25/2031		9		1
Series 2001-7, Class PF, 7.00%, 3/25/2031		21		24
Series 2011-31, Class DB, 3.50%, 4/25/2031		1,160		1,235
Series 2001-33, Class ID, IO, 6.00%, 7/25/2031		71		10
Series 2001-30, Class PM, 7.00%, 7/25/2031		64		73
Series 2001-36, Class DE, 7.00%, 8/25/2031		68		79
Series 2001-49, Class Z, 6.50%, 9/25/2031		19		22
Series 2001-44, Class MY, 7.00%, 9/25/2031		165		194
Series 2001-44, Class PD, 7.00%, 9/25/2031		20		23
Series 2001-44, Class PU, 7.00%, 9/25/2031		24		28
Series 2001-52, Class KB, 6.50%, 10/25/2031		22		25
Series 2003-52, Class SX, HB, IF, 22.67%, 10/25/2031 (h)		36		49
Series 2001-61, Class Z, 7.00%, 11/25/2031		234		276
Series 2001-72, Class SX, IF, 17.25%, 12/25/2031 (h)		6		8
Series 2002-1, Class SA, HB, IF, 24.89%, 2/25/2032 (h)		11		15
Series 2002-13, Class SJ, IF, IO, 1.60%, 3/25/2032 (h)		199		7
Series 2002-13, Class ST, IF, 10.00%, 3/25/2032 (h)		3		3
Series 2002-21, Class LO, PO, 4/25/2032		7		6
Series 2002-21, Class PE, 6.50%, 4/25/2032		62		72
Series 2002-28, Class PK, 6.50%, 5/25/2032		156		179
Series 2012-66, Class CB, 3.00%, 6/25/2032		3,000		3,195
Series 2002-37, Class Z, 6.50%, 6/25/2032		45		51
Series 2006-130, Class GI, IO, 6.50%, 7/25/2032		173		23
Series 2002-48, Class GH, 6.50%, 8/25/2032		233		272
Series 2004-61, Class SK, IF, 8.50%, 11/25/2032 (h)		29		33
Series 2004-59, Class BG, PO, 12/25/2032		78		73
Series 2002-77, Class S, IF, 14.31%, 12/25/2032 (h)		35		43
Series 2003-22, Class UD, 4.00%, 4/25/2033		752		814
Series 2003-35, Class UC, 3.75%, 5/25/2033		7		7
Series 2003-42, Class GB, 4.00%, 5/25/2033		57		62
Series 2003-34, Class AX, 6.00%, 5/25/2033		120		138
Series 2003-34, Class ED, 6.00%, 5/25/2033		619		710
Series 2003-39, IO, 6.00%, 5/25/2033 (h)		30		5
Series 2003-33, Class IA, IO, 6.50%, 5/25/2033		237		47
Series 2007-97, Class KI, IO, 7.00%, 5/25/2033		438		44
Series 2003-47, Class PE, 5.75%, 6/25/2033		114		128
Series 2004-4, Class QI, IF, IO, 7.01%, 6/25/2033 (h)		60		1

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2004-4, Class QM, IF, 14.02%, 6/25/2033 (h)		6		6
Series 2003-64, Class SX, IF, 13.53%, 7/25/2033 (h)		29		35
Series 2003-132, Class OA, PO, 8/25/2033		12		12
Series 2003-72, Class IE, IO, 5.50%, 8/25/2033		216		35
Series 2003-71, Class DS, IF, 7.35%, 8/25/2033 (h)		260		281
Series 2003-74, Class SH, IF, 10.00%, 8/25/2033 (h)		57		64
Series 2003-91, Class SD, IF, 12.35%, 9/25/2033 (h)		54		63
Series 2013-101, Class AE, 3.00%, 10/25/2033		3,349		3,552
Series 2013-101, Class E, 3.00%, 10/25/2033		3,000		3,180
Series 2013-108, Class GU, 3.00%, 10/25/2033		4,000		4,243
Series 2003-116, Class SB, IF, IO, 7.51%, 11/25/2033 (h)		338		62
Series 2006-44, Class P, PO, 12/25/2033		590		548
Series 2003-130, Class SX, IF, 11.38%, 1/25/2034 (h)		6		7
Series 2004-25, Class SA, IF, 19.27%, 4/25/2034 (h)		146		201
Series 2004-46, Class SK, IF, 16.25%, 5/25/2034 (h)		271		345
Series 2004-36, Class SA, IF, 19.27%, 5/25/2034 (h)		314		447
Series 2004-46, Class QB, HB, IF, 23.63%, 5/25/2034 (h)		115		169
Series 2004-51, Class SY, IF, 14.06%, 7/25/2034 (h)		58		68
Series 2005-74, Class CS, IF, 19.77%, 5/25/2035 (h)		89		106
Series 2005-56, Class S, IF, IO, 6.62%, 7/25/2035 (h)		286		54
Series 2005-66, Class SG, IF, 17.15%, 7/25/2035 (h)		99		136
Series 2005-68, Class PG, 5.50%, 8/25/2035		279		314
Series 2005-84, Class XM, 5.75%, 10/25/2035		784		875
Series 2005-110, Class GL, 5.50%, 12/25/2035		2,241		2,520
Series 2006-46, Class UC, 5.50%, 12/25/2035		190		201
Series 2005-109, Class PC, 6.00%, 12/25/2035		258		286
Series 2006-39, Class WC, 5.50%, 1/25/2036		194		205
Series 2006-16, Class OA, PO, 3/25/2036		103		96
Series 2006-22, Class AO, PO, 4/25/2036		178		166
Series 2006-23, Class KO, PO, 4/25/2036		31		30
Series 2006-44, Class GO, PO, 6/25/2036		238		221
Series 2006-53, Class US, IF, IO, 6.49%, 6/25/2036 (h)		350		64
Series 2006-56, PO, 7/25/2036		194		180
Series 2006-58, PO, 7/25/2036		103		96
Series 2006-58, Class AP, PO, 7/25/2036		200		184
Series 2006-65, Class QO, PO, 7/25/2036		162		151
Series 2006-56, Class FC, 0.38%, 7/25/2036 (h)		353		355
Series 2006-58, Class FL, 0.55%, 7/25/2036 (h)		26		26
Series 2006-60, Class DZ, 6.50%, 7/25/2036		4,067		4,643
Series 2006-72, Class TO, PO, 8/25/2036		29		26
Series 2006-79, Class DO, PO, 8/25/2036		127		122
Series 2007-7, Class SG, IF, IO, 6.41%, 8/25/2036 (h)		785		197
Series 2006-77, Class PC, 6.50%, 8/25/2036		408		465
Series 2006-90, Class AO, PO, 9/25/2036		90		84
Series 2008-42, Class AO, PO, 9/25/2036		50		46
Series 2009-19, Class IP, IO, 5.50%, 10/25/2036		648		130
Series 2006-109, PO, 11/25/2036		48		44
Series 2006-110, PO, 11/25/2036		278		257
Series 2006-111, Class EO, PO, 11/25/2036		36		33
Series 2006-124, Class HB, 2.03%, 11/25/2036 (h)		493		502
Series 2006-119, PO, 12/25/2036		38		36
Series 2006-118, Class A2, 0.15%, 12/25/2036 (h)		147		146
Series 2009-70, Class CO, PO, 1/25/2037		266		244
Series 2006-128, Class BP, 5.50%, 1/25/2037		74		80
Series 2007-77, Class FG, 0.59%, 3/25/2037 (h)		44		45
Series 2007-16, Class FC, 0.84%, 3/25/2037 (h)		58		61
Series 2007-14, Class ES, IF, IO, 6.35%, 3/25/2037 (h)		431		75
Series 2007-42, Class AO, PO, 5/25/2037		18		16

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2007-48, PO, 5/25/2037		72		69
Series 2007-60, Class AX, IF, IO, 7.06%, 7/25/2037 (h)		1,295		315
Series 2007-81, Class GE, 6.00%, 8/25/2037		160		183
Series 2007-88, Class VI, IF, IO, 6.45%, 9/25/2037 (h)		855		178
Series 2007-91, Class ES, IF, IO, 6.37%, 10/25/2037 (h)		592		121
Series 2007-116, Class HI, IO, 1.30%, 1/25/2038 (h)		396		17
Series 2008-1, Class BI, IF, IO, 5.82%, 2/25/2038 (h)		211		39
Series 2008-16, Class IS, IF, IO, 6.11%, 3/25/2038 (h)		76		12
Series 2008-10, Class XI, IF, IO, 6.14%, 3/25/2038 (h)		208		37
Series 2008-27, Class SN, IF, IO, 6.81%, 4/25/2038 (h)		104		18
Series 2008-44, PO, 5/25/2038		6		5
Series 2008-53, Class CI, IF, IO, 7.11%, 7/25/2038 (h)		152		28
Series 2008-80, Class SA, IF, IO, 5.76%, 9/25/2038 (h)		321		56
Series 2008-81, Class SB, IF, IO, 5.76%, 9/25/2038 (h)		342		55
Series 2009-6, Class GS, IF, IO, 6.46%, 2/25/2039 (h)		316		68
Series 2009-62, Class HJ, 6.00%, 5/25/2039		60		62
Series 2009-60, Class HT, 6.00%, 8/25/2039		266		308
Series 2009-103, Class MB, 1.99%, 12/25/2039 (h)		122		127
Series 2009-99, Class SC, IF, IO, 6.09%, 12/25/2039 (h)		70		11
Series 2010-49, Class SC, IF, 12.48%, 3/25/2040 (h)		207		262
Series 2010-64, Class DM, 5.00%, 6/25/2040		117		130
Series 2010-71, Class HJ, 5.50%, 7/25/2040		180		205
Series 2010-147, Class SA, IF, IO, 6.44%, 1/25/2041 (h)		846		178
Series 2011-30, Class LS, IO, 1.61%, 4/25/2041 (h)		339		22
Series 2011-75, Class FA, 0.64%, 8/25/2041 (h)		96		97
Series 2011-118, Class MT, 7.00%, 11/25/2041		262		313
Series 2011-130, Class CA, 6.00%, 12/25/2041		520		601
Series 2013-81, Class TA, 3.00%, 2/25/2043		1,402		1,444
Series 2013-92, PO, 9/25/2043		703		635
Series 2013-90, Class PM, 3.50%, 9/25/2043		1,694		1,803
Series 2013-101, Class DO, PO, 10/25/2043		1,182		1,009
Series 2013-128, PO, 12/25/2043		1,316		1,220
Series 2011-2, Class WA, 5.84%, 2/25/2051 (h)		183		207
FNMA, REMIC Trust, Whole Loan
Series 2007-W7, Class 1A4, HB, IF, 38.64%, 7/25/2037 (h)		8		14
Series 2003-W4, Class 2A, 5.52%, 10/25/2042 (h)		39		44
Series 2003-W1, Class 1A1, 5.04%, 12/25/2042 (h)		345		372
Series 2003-W1, Class 2A, 5.49%, 12/25/2042 (h)		146		159
Series 2009-W1, Class A, 6.00%, 12/25/2049		387		429
FNMA, REMIC, Whole Loan
Series 2007-101, Class A2, 0.37%, 6/27/2036 (h)		256		253
Series 2007-54, Class FA, 0.49%, 6/25/2037 (h)		148		150
Series 2007-106, Class A7, 6.25%, 10/25/2037 (h)		97		113
FNMA, STRIPS
Series 218, Class 2, IO, 7.50%, 4/25/2023		1		—	(i)
Series 265, Class 2, 9.00%, 3/25/2024		1		1
Series 329, Class 1, PO, 1/25/2033		27		25
Series 345, Class 6, IO, 5.00%, 12/25/2033 (h)		41		5
Series 351, Class 7, IO, 5.00%, 4/25/2034 (h)		136		17
Series 355, Class 11, IO, 6.00%, 7/25/2034		111		18
Series 365, Class 8, IO, 5.50%, 5/25/2036		167		34
Series 374, Class 5, IO, 5.50%, 8/25/2036		96		17
Series 393, Class 6, IO, 5.50%, 4/25/2037		31		4
Series 383, Class 32, IO, 6.00%, 1/25/2038		43		10
Series 383, Class 33, IO, 6.00%, 1/25/2038		113		22
Freedom Series 2021-SAVF1, IO, 4.40%, 3/25/2022 (h)		4,400		4,400
GMACM Mortgage Loan Trust Series 2005-AR3, Class 3A4, 3.08%, 6/19/2035 (h)		436		425
GNMA
Series 1999-4, Class ZB, 6.00%, 2/20/2029		182		182

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2001-35, Class SA, IF, IO, 8.16%, 8/16/2031 (h)		60		—	(i)
Series 2002-52, Class GH, 6.50%, 7/20/2032		281		281
Series 2003-58, Class BE, 6.50%, 1/20/2033		385		407
Series 2003-12, Class SP, IF, IO, 7.61%, 2/20/2033 (h)		91		9
Series 2003-24, PO, 3/16/2033		17		17
Series 2003-40, Class TJ, 6.50%, 3/20/2033		468		497
Series 2003-46, Class TC, 6.50%, 3/20/2033		221		236
Series 2003-46, Class MG, 6.50%, 5/20/2033		300		328
Series 2003-52, Class AP, PO, 6/16/2033		89		84
Series 2003-90, PO, 10/20/2033		25		24
Series 2003-112, Class SA, IF, IO, 6.46%, 12/16/2033 (h)		317		29
Series 2004-28, Class S, IF, 19.42%, 4/16/2034 (h)		138		188
Series 2004-90, Class SI, IF, IO, 6.01%, 10/20/2034 (h)		421		57
Series 2005-68, Class DP, IF, 16.22%, 6/17/2035 (h)		45		54
Series 2010-14, Class CO, PO, 8/20/2035		141		131
Series 2005-58, Class NI, IO, 5.50%, 8/20/2035 (h)		643		90
Series 2005-68, Class KI, IF, IO, 6.21%, 9/20/2035 (h)		926		170
Series 2005-91, Class PI, IO, 6.00%, 12/20/2035		137		19
Series 2006-16, Class OP, PO, 3/20/2036		61		57
Series 2006-38, Class SW, IF, IO, 6.41%, 6/20/2036 (h)		57		2
Series 2006-38, Class ZK, 6.50%, 8/20/2036		745		821
Series 2006-59, Class SD, IF, IO, 6.61%, 10/20/2036 (h)		208		26
Series 2006-65, Class SA, IF, IO, 6.71%, 11/20/2036 (h)		343		35
Series 2011-22, Class WA, 5.90%, 2/20/2037 (h)		317		360
Series 2007-57, PO, 3/20/2037		80		77
Series 2007-17, Class JO, PO, 4/16/2037		59		53
Series 2007-17, Class JI, IF, IO, 6.72%, 4/16/2037 (h)		551		113
Series 2007-19, Class SD, IF, IO, 6.11%, 4/20/2037 (h)		306		27
Series 2007-28, Class BO, PO, 5/20/2037		63		58
Series 2007-26, Class SC, IF, IO, 6.11%, 5/20/2037 (h)		248		35
Series 2007-27, Class SA, IF, IO, 6.11%, 5/20/2037 (h)		259		31
Series 2007-36, Class SE, IF, IO, 6.38%, 6/16/2037 (h)		153		16
Series 2007-47, Class PH, 6.00%, 7/16/2037		2,415		2,728
Series 2007-40, Class SB, IF, IO, 6.66%, 7/20/2037 (h)		532		87
Series 2007-42, Class SB, IF, IO, 6.66%, 7/20/2037 (h)		315		44
Series 2007-53, Class SW, IF, 19.93%, 9/20/2037 (h)		26		33
Series 2008-32, Class PI, IO, 5.50%, 10/16/2037		45		2
Series 2009-79, Class OK, PO, 11/16/2037		90		85
Series 2007-73, Class MI, IF, IO, 5.91%, 11/20/2037 (h)		177		18
Series 2007-76, Class SA, IF, IO, 6.44%, 11/20/2037 (h)		346		39
Series 2007-72, Class US, IF, IO, 6.46%, 11/20/2037 (h)		169		18
Series 2007-79, Class SY, IF, IO, 6.46%, 12/20/2037 (h)		157		19
Series 2008-2, Class NS, IF, IO, 6.45%, 1/16/2038 (h)		329		38
Series 2008-2, Class MS, IF, IO, 7.07%, 1/16/2038 (h)		99		17
Series 2008-10, Class S, IF, IO, 5.74%, 2/20/2038 (h)		189		20
Series 2008-36, Class SH, IF, IO, 6.21%, 4/20/2038 (h)		258		1
Series 2008-40, Class SA, IF, IO, 6.31%, 5/16/2038 (h)		1,650		273
Series 2008-55, Class SA, IF, IO, 6.11%, 6/20/2038 (h)		141		18
Series 2008-71, Class SC, IF, IO, 5.91%, 8/20/2038 (h)		66		8
Series 2009-25, Class SE, IF, IO, 7.51%, 9/20/2038 (h)		124		17
Series 2008-93, Class AS, IF, IO, 5.61%, 12/20/2038 (h)		187		21
Series 2009-65, Class IQ, IO, 6.00%, 12/20/2038		25		—	(i)
Series 2009-6, Class SA, IF, IO, 6.01%, 2/16/2039 (h)		192		14
Series 2009-12, Class IE, IO, 5.50%, 3/20/2039		391		42
Series 2009-14, Class KI, IO, 6.50%, 3/20/2039		179		30
Series 2009-14, Class NI, IO, 6.50%, 3/20/2039		170		35
Series 2009-22, Class SA, IF, IO, 6.18%, 4/20/2039 (h)		379		53
Series 2009-33, Class CI, IO, 5.50%, 5/20/2039		86		11

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
Series 2009-33, Class TI, IO, 6.00%, 5/20/2039		93			15
Series 2009-43, Class SA, IF, IO, 5.86%, 6/20/2039 (h)		164			17
Series 2009-72, Class SM, IF, IO, 6.16%, 8/16/2039 (h)		376			52
Series 2010-31, Class NO, PO, 3/20/2040		608			572
Series 2013-75, Class WA, 5.13%, 6/20/2040 (h)		837			946
Series 2010-130, Class CP, 7.00%, 10/16/2040		106			124
Series 2010-157, Class OP, PO, 12/20/2040		642			605
Series 2011-75, Class SM, IF, IO, 6.51%, 5/20/2041 (h)		528			75
Series 2014-188, Class W, 4.58%, 10/20/2041 (h)		351			386
Series 2012-141, Class WC, 3.70%, 1/20/2042 (h)		207			223
Series 2013-54, Class WA, 4.89%, 11/20/2042 (h)		1,282			1,439
Series 2013-91, Class WA, 4.48%, 4/20/2043 (h)		631			687
Series 2013-116, Class JY, 4.00%, 8/16/2043		1,300			1,500
Series 2018-160, Class PA, 3.50%, 7/20/2046		2,378			2,457
Series 2012-H24, Class FG, 0.51%, 4/20/2060 (h)		9			9
Series 2013-H03, Class FA, 0.38%, 8/20/2060 (h)		1			1
Series 2012-H21, Class CF, 0.78%, 5/20/2061 (h)		11			11
Series 2013-H05, Class FB, 0.48%, 2/20/2062 (h)		36			36
Series 2012-H15, Class FA, 0.53%, 5/20/2062 (h)		—	(i)		—	(i)
Series 2012-H26, Class MA, 0.63%, 7/20/2062 (h)		3			3
Series 2012-H28, Class FA, 0.66%, 9/20/2062 (h)		7			7
Series 2012-H29, Class FA, 0.59%, 10/20/2062 (h)		560			561
Series 2012-H31, Class FD, 0.42%, 12/20/2062 (h)		829			828
Series 2013-H01, Class FA, 1.65%, 1/20/2063		10			10
Series 2013-H08, Class FC, 0.53%, 2/20/2063 (h)		695			696
Series 2013-H04, Class BA, 1.65%, 2/20/2063		10			10
Series 2013-H07, Class HA, 0.49%, 3/20/2063 (h)		652			653
Series 2013-H09, Class HA, 1.65%, 4/20/2063		29			29
Series 2013-H18, Class JA, 0.68%, 8/20/2063 (h)		1,261			1,267
Series 2014-H01, Class FD, 0.73%, 1/20/2064 (h)		969			974
Series 2014-H09, Class TA, 0.68%, 4/20/2064 (h)		1,002			1,006
Series 2015-H15, Class FD, 0.52%, 6/20/2065 (h)		1,314			1,317
Series 2015-H15, Class FJ, 0.52%, 6/20/2065 (h)		2,941			2,949
Series 2015-H16, Class FG, 0.52%, 7/20/2065 (h)		1,869			1,873
Series 2015-H23, Class FB, 0.60%, 9/20/2065 (h)		1,928			1,938
Series 2015-H32, Class FH, 0.74%, 12/20/2065 (h)		1,472			1,485
Series 2017-H08, Class XI, IO, 2.17%, 3/20/2067 (h)		6,375			557
GSMPS Mortgage Loan Trust
Series 2001-2, Class A, 7.50%, 6/19/2032 (a) (h)		355			352
Series 2005-RP3, Class 1AF, 0.44%, 9/25/2035 (a) (h)		599			518
Series 2005-RP3, Class 1AS, IO, 4.19%, 9/25/2035 ‡ (a) (h)		453			47
Series 2006-RP2, Class 1AS2, IF, IO, 4.23%, 4/25/2036 ‡ (a) (h)		1,865			256
GSR Mortgage Loan Trust
Series 2004-6F, Class 3A4, 6.50%, 5/25/2034		99			103
Series 2004-8F, Class 2A3, 6.00%, 9/25/2034		56			57
Series 2004-13F, Class 3A3, 6.00%, 11/25/2034		197			208
Series 2005-4F, Class AP, PO, 5/25/2035 ‡		1			1
Series 2005-7F, Class 3A9, 6.00%, 9/25/2035		354			367
Series 2006-1F, Class 2A4, 6.00%, 2/25/2036		819			563
Impac CMB Trust
Series 2004-7, Class 1A1, 0.83%, 11/25/2034 (h)		459			464
Series 2005-4, Class 2A1, 0.69%, 5/25/2035 (h)		101			100
Impac Secured Assets Trust Series 2006-1, Class 2A1, 0.79%, 5/25/2036 (h)		64			64
JPMorgan Mortgage Trust
Series 2006-A2, Class 5A3, 2.27%, 11/25/2033 (h)		184			187
Series 2006-A2, Class 4A1, 2.23%, 8/25/2034 (h)		162			169
Series 2006-A3, Class 6A1, 2.61%, 8/25/2034 (h)		45			46
Lehman Mortgage Trust
Series 2006-2, Class 1A1, 5.94%, 4/25/2036 (h)		217			182
Series 2008-2, Class 1A6, 6.00%, 3/25/2038		468			235

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)			Value ($000)
LHOME Mortgage Trust Series 2021-RTL1, Class A1, 2.09%, 9/25/2026 (a) (h)		2,075			2,070
MASTR Adjustable Rate Mortgages Trust
Series 2004-13, Class 2A1, 2.62%, 4/21/2034 (h)		97			98
Series 2004-4, Class 2A1, 2.22%, 5/25/2034 (h)		30			30
Series 2004-13, Class 3A7, 2.72%, 11/21/2034 (h)		235			238
Series 2004-15, Class 3A1, 2.49%, 12/25/2034 (h)		50			49
MASTR Alternative Loan Trust
Series 2004-10, Class 1A1, 4.50%, 9/25/2019		3			3
Series 2004-8, Class 6A1, 5.50%, 9/25/2019		2			2
Series 2004-4, Class 10A1, 5.00%, 5/25/2024		95			96
Series 2003-3, Class 1A1, 6.50%, 5/25/2033		99			104
Series 2003-9, Class 8A1, 6.00%, 1/25/2034		200			210
Series 2004-3, Class 2A1, 6.25%, 4/25/2034		146			152
Series 2004-6, Class 30, PO, 7/25/2034 ‡		115			97
Series 2004-6, Class 7A1, 6.00%, 7/25/2034		207			222
Series 2004-7, Class 30, PO, 8/25/2034 ‡		70			58
MASTR Asset Securitization Trust
Series 2004-6, Class 15, PO, 7/25/2019 ‡		—	(i)		—	(i)
Series 2003-12, Class 30, PO, 12/25/2033 ‡		10			9
Series 2004-1, Class 30, PO, 2/25/2034 ‡		8			7
MASTR Reperforming Loan Trust Series 2005-2, Class 1A1F, 0.44%, 5/25/2035 (a) (h)		1,301			682
MASTR Resecuritization Trust Series 2005-PO, Class 3, PO, 5/28/2035 ‡ (a)		72			60
Merrill Lynch Mortgage Investors Trust
Series 2003-E, Class A1, 0.71%, 10/25/2028 (h)		52			51
Series 2003-F, Class A1, 0.73%, 10/25/2028 (h)		435			428
Series 2004-A, Class A1, 0.55%, 4/25/2029 (h)		83			81
Series 2004-1, Class 2A1, 2.04%, 12/25/2034 (h)		136			138
MRA Issuance Trust
Series 2021-EBO5, Class A1X, 1.83%, 2/16/2022 (a) (h)		6,700			6,705
Series 2021-EBO7, Class A1X, 2.84%, 2/16/2022 (a) (h)		6,700			6,702
Series 2021-EBO2, Class A, 2.82%, 12/31/2049 (a) (h)		6,500			6,500
NACC Reperforming Loan REMIC Trust Series 2004-R2, Class A1, 6.50%, 10/25/2034 (a) (h)		188			185
Nomura Asset Acceptance Corp. Alternative Loan Trust
Series 2003-A1, Class A5, 7.00%, 4/25/2033		34			37
Series 2003-A1, Class A1, 5.50%, 5/25/2033		10			10
Series 2003-A1, Class A2, 6.00%, 5/25/2033		36			37
P4 SFR Series 2019-STlA, 7.25%, 10/11/2026‡		2,600			2,600
PRET LLC Series 2021-RN4, Class A1, 2.49%, 11/25/2061 (a) (h)		7,300			7,306
PRPM LLC Series 2021-1, Class A1, 2.12%, 1/25/2026 (a) (h)		3,767			3,753
RALI Trust
Series 2002-QS16, Class A3, IF, 16.43%, 10/25/2017 (h)		—	(i)		—	(i)
Series 2003-QS9, Class A3, IF, IO, 7.46%, 5/25/2018 ‡ (h)		3			—	(i)
Series 2003-QS12, Class A5, IO, 5.00%, 6/25/2018 ‡		—	(i)		—
Series 2003-QS12, Class A2A, IF, IO, 7.51%, 6/25/2018 ‡ (h)		—	(i)		—	(i)
Series 2003-QS14, Class A1, 5.00%, 7/25/2018		6			5
Series 2004-QA6, Class NB2, 2.91%, 12/26/2034 (h)		440			439
RFMSI Trust
Series 2004-S9, Class 2A1, 4.75%, 12/25/2019		—	(i)		—	(i)
Series 2005-SA4, Class 1A1, 2.25%, 9/25/2035 (h)		60			53
RMIP Series 2019-1B, 4.71%, 8/25/2023 ‡		1,115			1,095
SART
Series 2017-1, 4.75%, 7/15/2024		1,415			1,415
Series 2018-1, 4.76%, 6/15/2025		1,490			1,490
Seasoned Credit Risk Transfer Trust
Series 2019-1, Class MT, 3.50%, 7/25/2058 ‡		3,115			3,307
Series 2019-3, Class MB, 3.50%, 10/25/2058 ‡		1,722			1,939
Structured Asset Mortgage Investments II Trust Series 2004-AR5, Class 1A1, 0.75%, 10/19/2034 (h)		216			212

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Thornburg Mortgage Securities Trust
Series 2003-4, Class A1, 0.73%, 9/25/2043 (h)		91		93
Series 2004-4, Class 3A, 1.88%, 12/25/2044 (h)		199		199
Toorak Mortgage Corp. Ltd. Series 2019-2, Class A1, 3.72%, 9/25/2022 (d)		2,450		2,458
Towd Point Mortgage Trust Series 2021-R1, Class A1, 2.92%, 11/30/2060 (a) (h)		5,894		5,915
Two Harbors Series 2021-FNTMSR1, Class A, IO, 3.58%, 3/25/2022 (h)		4,400		4,400
Vendee Mortgage Trust
Series 1994-1, Class 1, 5.02%, 2/15/2024 (h)		49		51
Series 1994-1, Class 2ZB, 6.50%, 2/15/2024		72		75
Series 1996-1, Class 1Z, 6.75%, 2/15/2026		147		162
Series 1996-2, Class 1Z, 6.75%, 6/15/2026		109		120
Series 1997-1, Class 2Z, 7.50%, 2/15/2027		216		239
Series 1998-1, Class 2E, 7.00%, 3/15/2028		266		292
Series 1999-1, Class 2Z, 6.50%, 1/15/2029		548		600
Series 2003-2, Class Z, 5.00%, 5/15/2033		2,416		2,682
vMobo, Inc. 7.50%, 5/31/2024		3,219		3,219
WaMu Mortgage Pass-Through Certificates Series 2004-RS2, Class A4, 5.00%, 11/25/2033		384		397
WaMu Mortgage Pass-Through Certificates Trust
Series 2003-AR8, Class A, 2.67%, 8/25/2033 (h)		30		31
Series 2003-AR9, Class 2A, 2.37%, 9/25/2033 (h)		51		50
Series 2003-AR9, Class 1A6, 2.51%, 9/25/2033 (h)		499		500
Series 2003-S9, Class P, PO, 10/25/2033 ‡		18		15
Series 2003-S9, Class A8, 5.25%, 10/25/2033		258		267
Series 2004-AR3, Class A1, 2.59%, 6/25/2034 (h)		35		36
Series 2004-AR3, Class A2, 2.59%, 6/25/2034 (h)		30		30
Series 2006-AR10, Class 2P, 2.69%, 9/25/2036 ‡ (h)		56		51
Series 2006-AR12, Class 2P, 2.59%, 10/25/2036 ‡ (h)		44		43
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust
Series 2005-2, Class 2A3, IF, IO, 4.91%, 4/25/2035 ‡ (h)		602		81
Series 2005-2, Class 1A4, IF, IO, 4.96%, 4/25/2035 ‡ (h)		2,507		309
Series 2005-3, Class CX, IO, 5.50%, 5/25/2035 ‡		753		127
Series 2005-4, Class CB7, 5.50%, 6/25/2035		771		787
Series 2005-4, Class CX, IO, 5.50%, 6/25/2035 ‡		649		109
Series 2005-6, Class 2A4, 5.50%, 8/25/2035		131		129
Series 2005-6, Class 2A9, 5.50%, 8/25/2035		824		812
Wells Fargo Mortgage-Backed Securities Trust Series 2007-7, Class A7, 6.00%, 6/25/2037		125		125
ZH Trust Series 2021-1, Class A, 2.25%, 2/18/2027 (a)		1,830		1,810
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $240,141)				252,192
ASSET-BACKED SECURITIES — 9.5%
Academic Loan Funding Trust Series 2013-1A, Class A, 0.89%, 12/26/2044 (a) (h)		742		741
ACC Trust Series 2019-2, Class A, 2.82%, 2/21/2023 (a)		60		60
Air Canada Pass-Through Trust (Canada)
Series 2013-1, Class A, 4.13%, 5/15/2025 (a)		520		528
Series 2015-2, Class AA, 3.75%, 12/15/2027 (a)		205		213
Series 2017-1, Class AA, 3.30%, 1/15/2030 (a)		416		428
Series 2017-1, Class A, 3.55%, 1/15/2030 (a)		588		576
American Airlines Pass-Through Trust
Series 2016-3, Class AA, 3.00%, 10/15/2028		316		320
Series 2017-1, Class AA, 3.65%, 2/15/2029		441		466
American Homes 4 Rent
Series 2015-SFR1, Class A, 3.47%, 4/17/2052 (a)		3,733		3,921
Series 2015-SFR1, Class E, 5.64%, 4/17/2052 ‡ (a)		1,275		1,375
American Homes 4 Rent Trust
Series 2014-SFR2, Class A, 3.79%, 10/17/2036 (a)		3,504		3,649
Series 2014-SFR2, Class D, 5.15%, 10/17/2036 ‡ (a)		2,000		2,116

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2014-SFR2, Class E, 6.23%, 10/17/2036 (a)		850		918
Series 2014-SFR3, Class A, 3.68%, 12/17/2036 (a)		2,615		2,747
Series 2014-SFR3, Class C, 4.60%, 12/17/2036 (a)		500		525
Series 2014-SFR3, Class E, 6.42%, 12/17/2036 ‡ (a)		2,380		2,591
American Tower Trust #1 REIT, 3.07%, 3/15/2023 (a)		750		751
AMSR Trust
Series 2020-SFR2, Class C, 2.53%, 7/17/2037 ‡ (a)		3,500		3,512
Series 2020-SFR4, Class C, 1.86%, 11/17/2037 ‡ (a)		4,000		3,929
Series 2021-SFR3, Class E1, 2.33%, 10/17/2038 ‡ (a)		2,168		2,127
British Airways Pass-Through Trust (United Kingdom)
Series 2018-1, Class AA, 3.80%, 9/20/2031 (a)		505		528
Series 2018-1, Class A, 4.13%, 9/20/2031 (a)		811		824
Series 2019-1, Class AA, 3.30%, 12/15/2032 (a)		662		680
Business Jet Securities LLC
Series 2019-1, Class A, 4.21%, 7/15/2034 (a)		962		978
Series 2019-1, Class B, 5.19%, 7/15/2034 ‡ (a)		2,104		2,086
Series 2020-1A, Class A, 2.98%, 11/15/2035 (a)		1,025		1,035
Series 2021-1A, Class A, 2.16%, 4/15/2036 (a)		2,064		2,065
Camillo Issuer LLC Series 2016-SFR, Class 1-A-1, 5.00%, 12/5/2023 ‡		4,763		4,910
Cars Net Lease Mortgage Notes Series 2020-1A, Class A3, 3.10%, 12/15/2050 (a)		801		811
Carvana Auto Receivables Trust
Series 2019-2A, Class C, 3.00%, 6/17/2024 (a)		4,675		4,717
Series 2019-3A, Class C, 2.71%, 10/15/2024 (a)		5,240		5,301
CFMT LLC Series 2020-HB4, Class A, 0.95%, 12/26/2030 (a) (h)		2,935		2,939
Chase Funding Trust Series 2003-6, Class 1A7, 5.28%, 11/25/2034 ‡ (d)		299		311
Citibank Credit Card Issuance Trust Series 2007-A3, Class A3, 6.15%, 6/15/2039		800		1,118
Consumer Receivables Asset Investment Trust Series 2021-1, Class A1X, 3.18%, 3/24/2023 (a) (h)		2,810		2,804
Continental Airlines Pass-Through Trust Series 2007-1, Class A, 5.98%, 4/19/2022		75		76
Continental Finance Credit Card ABS Master Trust Series 2020-1A, Class A, 2.24%, 12/15/2028 (a)		2,070		2,065
CoreVest American Finance Trust
Series 2019-2, Class D, 4.22%, 6/15/2052 ‡ (a)		2,000		2,109
Series 2020-3, Class B, 2.20%, 8/15/2053 ‡ (a)		2,855		2,734
CPS Auto Trust Series 2018-C, Class D, 4.40%, 6/17/2024 (a)		2,476		2,511
Credit Acceptance Auto Loan Trust Series 2021-2A, Class C, 1.64%, 6/17/2030 (a)		7,280		7,196
Credit Suisse ABS Trust Series 2020-AT1, Class A, 2.61%, 10/15/2026 (a)		2,036		2,066
CWABS, Inc. Asset-Backed Certificates Trust Series 2004-6, Class M1, 0.99%, 10/25/2034 (h)		71		71
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (a)		2,700		2,654
Delta Air Lines Pass-Through Trust Series 2015-1, Class AA, 3.63%, 7/30/2027		244		259
Diamond Resorts Owner Trust Series 2019-1A, Class A, 2.89%, 2/20/2032 (a)		2,241		2,283
Drive Auto Receivables Trust
Series 2017-3, Class D, 3.53%, 12/15/2023 (a)		297		297
Series 2019-4, Class C, 2.51%, 11/17/2025		1,731		1,743
Exeter Automobile Receivables Trust
Series 2019-4A, Class C, 2.44%, 9/16/2024 (a)		1,849		1,860
Series 2019-3A, Class D, 3.11%, 8/15/2025 (a)		3,540		3,626
FirstKey Homes Trust
Series 2020-SFR2, Class E, 2.67%, 10/19/2037 ‡ (a)		3,000		2,997
Series 2021-SFR1, Class D, 2.19%, 8/17/2038 ‡ (a)		4,000		3,915
FNMA, Grantor Trust Series 2017-T1, Class A, 2.90%, 6/25/2027		4,843		5,143
Foundation Finance Trust Series 2019-1A, Class A, 3.86%, 11/15/2034 (a)		624		641
GE Capital Mortgage Services, Inc. Trust Series 1999-HE1, Class M, 6.71%, 4/25/2029 ‡ (h)		52		47
Gold Key Resorts LLC Series 2014-A, Class A, 3.22%, 3/17/2031 (a)		106		107
Goodgreen Series 2019-2A, Class A, 2.76%, 4/15/2055 (a)		1,785		1,798

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Goodgreen Trust Series 2017-1A, Class A, 3.74%, 10/15/2052 (a)		378		393
HERO (Cayman Islands) Series 2018-1ASI, Class A, 4.00%, 9/20/2047 (a)		185		176
HERO Funding (Cayman Islands) Series 2017-3A, Class A2, 3.95%, 9/20/2048 (a)		1,068		1,100
HERO Funding Trust (Cayman Islands)
Series 2016-3A, Class A1, 3.08%, 9/20/2042 (a)		437		448
Series 2017-1A, Class A2, 4.46%, 9/20/2047 (a)		1,067		1,120
Hilton Grand Vacations Trust Series 2017-AA, Class A, 2.66%, 12/26/2028 (a)		104		106
Home Equity Mortgage Loan Asset-Backed Trust Series 2006-A, Class A3, 0.49%, 3/25/2036 ‡ (h)		6		6
KGS-Alpha SBA COOF Trust
Series 2012-2, Class A, IO, 0.95%, 8/25/2038 ‡ (a) (h)		1,822		36
Series 2013-2, Class A, IO, 2.14%, 3/25/2039 ‡ (a) (h)		1,900		73
Series 2015-2, Class A, IO, 3.29%, 7/25/2041 ‡ (a) (h)		823		95
Lendmark Funding Trust Series 2019-1A, Class B, 3.40%, 12/20/2027 ‡ (a)		3,319		3,366
LP LMS Asset Securitization Trust 3.23%, 10/15/2028		3,688		3,717
Mercury Financial Credit Card Master Trust Series 2021-1A, Class A, 1.54%, 3/20/2026 (a)		2,330		2,331
Mid-State Capital Corp. Trust Series 2006-1, Class M1, 6.08%, 10/15/2040 ‡ (a)		490		509
MVW LLC Series 2019-2A, Class B, 2.44%, 10/20/2038 (a)		2,267		2,293
New Century Home Equity Loan Trust Series 2003-5, Class AI6, 6.00%, 11/25/2033 ‡ (d)		272		278
NRZ Excess Spread-Collateralized Notes
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (a)		1,532		1,538
Series 2021-FHT1, Class A, 3.10%, 7/25/2026 (a)		6,719		6,705
Series 2021-GNT1, Class A, 3.47%, 11/25/2026 (a)		4,000		4,000
OneMain Direct Auto Receivables Trust Series 2018-1A, Class B, 3.71%, 4/14/2025 (a)		1,863		1,869
Oportun Funding XIII LLC Series 2019-A, Class A, 3.08%, 8/8/2025 (a)		3,010		3,047
Pagaya AI Debt Selection Trust Series 2021-1, Class A, 1.18%, 11/15/2027 (a)		6,265		6,256
Pretium Mortgage Credit Partners I LLC Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 (a) (d)		4,465		4,447
Progress Residential Trust
Series 2020-SFR3, Class C, 1.70%, 10/17/2027 ‡ (a)		3,250		3,194
Series 2019-SFR4, Class D, 3.14%, 10/17/2036 ‡ (a)		5,000		5,021
Renaissance Home Equity Loan Trust Series 2007-2, Class AF2, 5.68%, 6/25/2037 ‡ (d)		287		112
Renew (Cayman Islands) Series 2017-1A, Class A, 3.67%, 9/20/2052 (a)		468		484
Santander Retail Auto Lease Trust Series 2020-A, Class A4, 1.76%, 3/20/2024 (a)		3,955		4,003
Securitized Asset-Backed Receivables LLC Trust Series 2006-CB1, Class AF2, 2.92%, 1/25/2036 ‡ (d)		164		166
Sierra Timeshare Receivables Funding LLC Series 2019-2A, Class C, 3.12%, 5/20/2036 ‡ (a)		1,281		1,297
Spirit Airlines Pass-Through Trust Series 2017-1, Class AA, 3.38%, 2/15/2030		323		327
Synchrony Card Funding LLC
Series 2019-A1, Class A, 2.95%, 3/15/2025		4,681		4,717
Series 2019-A2, Class A, 2.34%, 6/15/2025		5,000		5,053
Tricolor Auto Securitization Trust Series 2020-1A, Class A, 4.88%, 11/15/2026 (a)		1,404		1,414
United Airlines Pass-Through Trust
Series 2016-2, Class B, 3.65%, 10/7/2025		986		986
Series 2018-1, Class B, 4.60%, 3/1/2026		165		168
Series 2016-1, Class A, 3.45%, 7/7/2028		619		630
Series 2016-2, Class A, 3.10%, 10/7/2028		1,053		1,052
Series 2018-1, Class AA, 3.50%, 3/1/2030		939		991
Series 2018-1, Class A, 3.70%, 3/1/2030		1,455		1,491
Series 2019-1, Class AA, 4.15%, 8/25/2031		918		1,012
Series 2019-1, Class A, 4.55%, 8/25/2031		820		885
Series 2019-2, Class AA, 2.70%, 5/1/2032		1,229		1,242
Upstart Securitization Trust Series 2020-1, Class A, 2.32%, 4/22/2030 (a)		795		797

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Verizon Owner Trust Series 2018-A, Class A1A, 3.23%, 4/20/2023		104		104
VOLT CI LLC Series 2021-NP10, Class A1, 1.99%, 5/25/2051 (a) (d)		2,304		2,299
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 (a) (d)		5,547		5,514
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 (a) (d)		3,918		3,909
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (a) (d)		3,276		3,267
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 (a) (d)		3,366		3,353
Westlake Automobile Receivables Trust Series 2019-2A, Class D, 3.20%, 11/15/2024 (a)		2,500		2,551
World Financial Network Credit Card Master Trust Series 2019-A, Class A, 3.14%, 12/15/2025		2,245		2,258
World Omni Auto Receivables Trust Series 2018-B, Class A3, 2.87%, 7/17/2023		693		695
TOTAL ASSET-BACKED SECURITIES (Cost $210,091)				211,699
COMMERCIAL MORTGAGE-BACKED SECURITIES — 3.7%
BAMLL Commercial Mortgage Securities Trust
Series 2012-PARK, Class A, 2.96%, 12/10/2030 (a)		560		571
Series 2014-520M, Class C, 4.35%, 8/15/2046 ‡ (a) (h)		1,300		1,411
BB-UBS Trust Series 2012-SHOW, Class A, 3.43%, 11/5/2036 (a)		4,400		4,573
Bear Stearns Commercial Mortgage Securities Trust Series 2005-PWR8, Class X1, IO, 0.72%, 6/11/2041 ‡ (a) (h)		10		—	(i)
Commercial Mortgage Trust
Series 2013-300P, Class A1, 4.35%, 8/10/2030 (a)		3,500		3,639
Series 2013-SFS, Class A2, 3.09%, 4/12/2035 (a) (h)		1,060		1,076
Series 2012-CR2, Class XA, IO, 1.77%, 8/15/2045 ‡ (h)		2,233		7
FHLMC, Multi-Family Structured Credit Risk Series 2021-MN2, Class M1, 1.85%, 7/25/2041 (a) (h)		6,312		6,312
FHLMC, Multi-Family Structured Pass-Through Certificates
Series KJ09, Class A2, 2.84%, 9/25/2022		581		588
Series KS01, Class A2, 2.52%, 1/25/2023		795		804
Series KPLB, Class A, 2.77%, 5/25/2025		353		371
Series K052, Class A2, 3.15%, 11/25/2025		3,560		3,799
Series K065, Class A2, 3.24%, 4/25/2027		2,467		2,687
Series K065, Class AM, 3.33%, 5/25/2027		1,322		1,443
Series K070, Class A2, 3.30%, 11/25/2027 (h)		1,748		1,921
FNMA ACES
Series 2014-M3, Class A2, 3.50%, 1/25/2024 (h)		1,143		1,193
Series 2017-M3, Class A2, 2.55%, 12/25/2026 (h)		1,103		1,154
Series 2015-M10, Class A2, 3.09%, 4/25/2027 (h)		8,433		9,069
Series 2017-M8, Class A2, 3.06%, 5/25/2027 (h)		3,815		4,109
Series 2018-M8, Class A2, 3.44%, 6/25/2028 (h)		2,580		2,837
Series 2018-M10, Class A2, 3.48%, 7/25/2028 (h)		3,335		3,674
Series 2017-M5, Class A2, 3.22%, 4/25/2029 (h)		3,176		3,479
Series 2020-M50, Class A1, 0.67%, 10/25/2030		2,963		2,886
Series 2020-M50, Class A2, 1.20%, 10/25/2030		1,325		1,293
Series 2020-M50, Class X1, IO, 2.01%, 10/25/2030 (h)		21,544		2,238
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033		735		727
Series 2021-M3, Class X1, IO, 2.12%, 11/25/2033 (h)		3,841		502
FREMF Mortgage Trust Series 2014-K39, Class C, 4.28%, 8/25/2047 (a) (h)		4,650		4,921
Ladder Capital Commercial Mortgage Trust Series 2013-GCP, Class A2, 3.99%, 2/15/2036 (a)		998		1,092
LB-UBS Commercial Mortgage Trust Series 2006-C7, Class XW, IO, 0.48%, 11/15/2038 ‡ (a) (h)		337		—	(i)
ML-CFC Commercial Mortgage Trust Series 2006-4, Class XC, IO, 1.37%, 12/12/2049 ‡ (a) (h)		13		—	(i)
Morgan Stanley Capital I Trust Series 2006-IQ12, Class X1, IO, 0.24%, 12/15/2043 ‡ (a) (h)		285		—	(i)
MRCD MARK Mortgage Trust
Series 2019-PARK, Class A, 2.72%, 12/15/2036 (a)		2,050		2,085

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
Series 2019-PARK, Class D, 2.72%, 12/15/2036 ‡ (a)		2,685		2,641
RBS Commercial Funding, Inc. Trust Series 2013-SMV, Class A, 3.26%, 3/11/2031 (a)		664		674
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041 (a)		3,935		4,039
UBS-BAMLL Trust Series 2012-WRM, Class A, 3.66%, 6/10/2030 (a)		2,236		2,242
UBS-Barclays Commercial Mortgage Trust
Series 2013-C6, Class A4, 3.24%, 4/10/2046		857		877
Series 2012-C2, Class XA, IO, 1.43%, 5/10/2063 ‡ (a) (h)		6,612		24
VNDO Mortgage Trust Series 2012-6AVE, Class A, 3.00%, 11/15/2030 (a)		1,398		1,422
WFRBS Commercial Mortgage Trust Series 2013-C11, Class D, 4.38%, 3/15/2045 ‡ (a) (h)		400		395
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost $79,701)				82,775
U.S. GOVERNMENT AGENCY SECURITIES — 0.7%
Tennessee Valley Authority
5.88%, 4/1/2036		6,839		10,117
4.63%, 9/15/2060		304		470
Tennessee Valley Authority STRIPS
DN, 3.92%, 11/1/2025 (g)		5,000		4,748
DN, 5.19%, 6/15/2035 (g)		800		598
TOTAL U.S. GOVERNMENT AGENCY SECURITIES (Cost $13,916)				15,933
MUNICIPAL BONDS — 0.6% (l)
California — 0.1%
City of Los Angeles Department of Airports, Federally Taxable Build America Bonds Direct Payment to Issuer Series 2009C, Rev., 6.58%, 5/15/2039		440		591
State of California, Build America Bonds GO, 7.30%, 10/1/2039		350		559
Total California				1,150
New York — 0.3%
New York State Dormitory Authority, State Personal Income Tax, Build America Bonds, General Purpose Series 2010-D, Rev., 5.60%, 3/15/2040		360		493
Port Authority of New York and New Jersey, Consolidated
Series 164, Rev., 5.65%, 11/1/2040		1,825		2,575
Series 165, Rev., 5.65%, 11/1/2040		440		621
Series 174, Rev., 4.46%, 10/1/2062		2,060		2,822
Total New York				6,511
Ohio — 0.2%
American Municipal Power, Inc., Meldahl Hydroelectric Project Series 2010B, Rev., 7.50%, 2/15/2050		1,315		2,210
Ohio State University (The), General Receipts
Series 2016A, Rev., 4.05%, 12/1/2056		325		437
Series 2011-A, Rev., 4.80%, 6/1/2111		1,563		2,491
Rev., 5.59%, 12/1/2114		200		321
Total Ohio				5,459
TOTAL MUNICIPAL BONDS (Cost $9,145)				13,120
FOREIGN GOVERNMENT SECURITIES — 0.5%
Kingdom of Saudi Arabia (Saudi Arabia)
2.25%, 2/2/2033 (a)		622		601
3.45%, 2/2/2061 (a)		550		545
Province of Quebec (Canada) 7.36%, 3/6/2026 (d)		377		466
Republic of Chile (Chile) 2.55%, 1/27/2032		497		495
Republic of Colombia (Colombia)
4.00%, 2/26/2024		922		951
4.50%, 1/28/2026		581		609
7.38%, 9/18/2037		200		234
5.63%, 2/26/2044		200		196
5.00%, 6/15/2045		515		469
Republic of Panama (Panama) 4.50%, 4/16/2050		325		348
Republic of Peru (Peru) 5.63%, 11/18/2050		88		120
Republic of South Africa (South Africa) 5.88%, 9/16/2025		640		705
United Mexican States (Mexico)
4.13%, 1/21/2026		316		347
3.75%, 1/11/2028		1,216		1,305
2.66%, 5/24/2031		1,075		1,037

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

Investments	Principal Amount ($000)		Value ($000)
4.60%, 1/23/2046		2,113		2,214
3.77%, 5/24/2061		772		696
TOTAL FOREIGN GOVERNMENT SECURITIES (Cost $11,259)				11,338
	Shares (000)
SHORT-TERM INVESTMENTS — 9.0%
INVESTMENT COMPANIES — 9.0%
JPMorgan Prime Money Market Fund Class Institutional Shares, 0.05% (m) (n) (Cost $200,176)		200,107		200,187
Total Investments — 103.3% (Cost $2,232,567)				2,302,894
Liabilities in Excess of Other Assets — (3.3)%				(73,147	)
Net Assets — 100.0%				2,229,747

Percentages indicated are based on net assets.

Abbreviations

ABS	Asset-Backed Securities
ACES	Alternative Credit Enhancement Securities
ARM	Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of November 30, 2021.
CSMC	Credit Suisse Mortgage Trust
DN	Discount Notes
FHLMC	Federal Home Loan Mortgage Corp.
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
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.
ICE	Intercontinental Exchange
IF	Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the rate in effect as of November 30, 2021. The rate may be subject to a cap and floor.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

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.
LIBOR	London Interbank Offered Rate
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.
REIT	Real Estate Investment Trust
REMIC	Real Estate Mortgage Investment Conduit
Rev.	Revenue
SOFR	Secured Overnight Financing Rate
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.
TBA	To Be Announced; Security is subject to delayed delivery.
UMBS	Uniform Mortgage-Backed Securities
USD	United States Dollar

(a)	Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended.
(b)	Amount rounds to less than 0.1% of net assets.
(c)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of November 30, 2021.
(d)	Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of November 30, 2021.
(e)	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 November 30, 2021.
(f)	Security is an interest bearing note with preferred security characteristics.
(g)	The rate shown is the effective yield as of November 30, 2021.
(h)	Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of November 30, 2021.
(i)	Amount rounds to less than one thousand.
(j)	All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
(k)	Defaulted security.
(l)	The date shown represents the earliest of the prerefunded date, next put date or final maturity date.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

(m)	Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc.
(n)	The rate shown is the current yield as of November 30, 2021.
‡	Value determined using significant unobservable inputs.

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

(Dollar values in thousands)

A. Valuation of Investments —   Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund’s valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (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 their market value 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.

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

A market-based approach is primarily used to value the Fund’s investments. Investments for which market quotations are not readily available are fair valued by approved affiliated and/or 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 the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for 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.

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

See the table on “Quantitative Information about Level 3 Fair Value Measurements” for information on the valuation techniques and inputs used to value level 3 securities held by the Fund at November 30, 2021.

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

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

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

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

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

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

The following table represents each valuation input as presented on the Schedule of Portfolio Investments:

	Level 1 Quoted prices		Level 2 Other significant observable inputs		Level 3 Significant unobservable inputs		Total
Investments in Securities
Asset-Backed Securities	$	—	$	162,787	$	48,912	$	211,699
Collateralized Mortgage Obligations		—		236,779		15,413		252,192
Commercial Mortgage-Backed Securities		—		78,297		4,478		82,775
Corporate Bonds		—		621,441		—		621,441
Foreign Government Securities		—		11,338		—		11,338
Mortgage-Backed Securities		—		345,490		—		345,490
Municipal Bonds		—		13,120		—		13,120
U.S. Government Agency Securities		—		15,933		—		15,933
U.S. Treasury Obligations		—		548,719		—		548,719
Short-Term Investments
Investment Companies		200,187		—		—		200,187
Total Investments in Securities	$	200,187	$	2,033,904	$	68,803	$	2,302,894

JPMorgan Core Bond Trust

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF NOVEMBER 30, 2021 (Unaudited) (continued)

(Dollar values in thousands)

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

	Balance as of February 28, 2021		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 November 30, 2021
Investments in Securities:
Asset-Backed Securities	$	58,045	$	—		$	(805	)	$	(86	)	$	6,168	$	(11,020	)	$	—	$	(3,390	)	$	48,912
Collateralized Mortgage Obligations		32,493		—	(a)		(688	)		(654	)		4,449		(16,297	)		—		(3,890	)		15,413
Commercial Mortgage-Backed Securities		4,574		—			(11	)		(87	)		2		—	(a)		—		—			4,478
Total	$	95,112	$	—	(a)	$	(1,504	)	$	(827	)	$	10,619	$	(27,317	)	$	—	$	(7,280	)	$	68,803

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 one thousand.

The changes in net unrealized appreciation (depreciation) attributable to securities owned at November 30, 2021, which were valued using significant unobservable inputs (level 3) amounted to $(1,302).

There were no significant transfers into or out of level 3 for the period ended November 30, 2021.

The significant unobservable inputs used in the fair value measurement of the Fund’s investments are listed below. 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 enterprise multiples may increase (decrease) the fair value measurement. Significant increases (decreases) in the discount for lack of marketability, liquidity discount, probability of default, yield and 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.

Quantitative Information about Level 3 Fair Value Measurements #

	Fair Value at November 30, 2021		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (a)
	$	43,797	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 30.00% (3.02%)
				Constant Default Rate		0.00% - 4.92% (0.09%)
				Yield (Discount Rate of Cash Flows)		0.86% - 5.55% (2.77%)
Asset-Backed Securities		43,797
		8,414	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 100.00% (67.90%)
				Constant Default Rate		0.00% - 6.69% (0.97%)
				Yield (Discount Rate of Cash Flows)		1.43% - 22.84% (6.14%)
Collateralized Mortgage Obligations		8,414
		4,479	Discounted Cash Flow	Constant Prepayment Rate		0.00% - 100.00% (0.66%)
				Yield (Discount Rate of Cash Flows)		-1.07% - 6.66% (3.48%)
Commercial Mortgage-Backed Securities		4,479
Total	$	56,690

# The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At November 30, 2021, the value of these investments was $12,113. The inputs for these investments are not readily available or cannot be reasonably estimated and generally are those inputs described in Note A.

(a) Unobservable inputs were weighted by the relative fair value of the instruments.

B. Investment Transactions with Affiliates — The Fund invested in an Underlying Fund, which is advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer. The Underlying Fund’s distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amount in the table below.

For the period ended November 30, 2021
Security Description	Value at February 28, 2021		Purchases at Cost		Proceeds from Sales		Net Realized Gain (Loss)			Change in Unrealized Appreciation/ (Depreciation)			Value at November 30, 2021		Shares at November 30, 2021		Dividend Income		Capital Gain Distributions
JPMorgan Prime Money Market Fund Class Institutional Shares, 0.05% (a) (b)	$	108,295	$	572,327	$	480,424	$	(11	)	$	—	(c)	$	200,187		200,107	$	44	$	—

(a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc.

(b) The rate shown is the current yield as of November 30, 2021.

(c) Amount rounds to less than one thousand.