NPORT-EX 2 JPMIGIF.htm PART F EDGAR HTML
JPMorgan Investor Growth & Income Fund
Schedule of Portfolio Investments as of March 31, 2024
(Unaudited) 
THE “UNAUDITED MUTUAL FUNDS HOLDINGS” LIST (“the
List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS
NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR
SALES LITERATURE WITH THE GENERAL PUBLIC. The list is
submitted for the general information of the shareholders of the Fund.
It is not authorized for distribution to prospective investors in the Fund
unless preceded or accompanied by a prospectus. The list has been
created from the books and records of the Fund. Holdings are
available 60 days after the fund’s fiscal quarter, using a trade date
accounting convention, by contacting the appropriate service center.
The list is subject to change without notice. The list is for
informational purposes only and is not intended as an offer or
solicitation with respect to the purchase or sale of any security.
JPMorgan Asset Management is the marketing name for the asset
management business of J.P. Morgan Chase & Co.
J.P. Morgan Distribution Services, Inc., member FINRA.
© J.P. Morgan Chase & Co., 2024.
JPMorgan Investor Growth & Income Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited)
 
INVESTMENTS
SHARES
(000)
VALUE
($000)
Investment Companies — 88.3%
Fixed Income — 31.4%
JPMorgan Core Bond Fund Class R6 Shares  (a)
74,662
760,804
JPMorgan Core Plus Bond Fund Class R6 Shares  (a)
44,305
317,669
JPMorgan Emerging Markets Debt Fund Class R6 Shares  (a)
2,807
17,434
JPMorgan High Yield Fund Class R6 Shares  (a)
16,841
108,286
JPMorgan Income Fund Class R6 Shares  (a)
21,757
182,324
JPMorgan Short Duration Core Plus Fund Class R6 Shares  (a)
4,624
42,218
Total Fixed Income
 
1,428,735
International Equity — 9.3%
JPMorgan Emerging Markets Equity Fund Class R6 Shares  (a)
3,225
98,159
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares  (a)
4,502
71,411
JPMorgan Europe Dynamic Fund Class R6 Shares  (a)
2,729
91,116
JPMorgan International Equity Fund Class R6 Shares  (a)
5,260
105,562
JPMorgan International Focus Fund Class R6 Shares  (a)
2,319
59,945
Total International Equity
 
426,193
U.S. Equity — 47.6%
JPMorgan Equity Income Fund Class R6 Shares  (a)
5,915
145,209
JPMorgan Large Cap Growth Fund Class R6 Shares  (a)
6,388
468,279
JPMorgan Large Cap Value Fund Class R6 Shares  (a)
13,261
269,470
JPMorgan Mid Cap Growth Fund Class R6 Shares  * (a)
1,253
66,516
JPMorgan Small Cap Equity Fund Class R6 Shares  (a)
443
25,337
JPMorgan Small Cap Value Fund Class R6 Shares  (a)
1,989
56,595
JPMorgan U.S. Equity Fund Class R6 Shares  (a)
21,474
509,802
JPMorgan U.S. GARP Equity Fund Class R6 Shares  (a)
2,027
154,311
JPMorgan U.S. Research Enhanced Equity Fund Class R6 Shares  (a)
7,508
306,781
JPMorgan Value Advantage Fund Class R6 Shares  (a)
4,195
163,198
Total U.S. Equity
 
2,165,498
Total Investment Companies
(Cost $2,957,751)
 
4,020,426
Exchange-Traded Funds — 10.4%
Fixed Income — 0.9%
JPMorgan Limited Duration Bond ETF  (a)
823
41,912
International Equity — 5.7%
JPMorgan International Research Enhanced Equity ETF  (a)
4,153
260,062
U.S. Equity — 3.8%
JPMorgan Market Expansion Enhanced Equity ETF  (a)
2,974
174,073
Total Exchange-Traded Funds
(Cost $362,443)
 
476,047
JPMorgan Investor Growth & Income Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
(000)
VALUE
($000)
Short-Term Investments — 1.3%
Investment Companies — 1.3%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (a) (b)
(Cost $58,261)
58,261
58,261
Total Investments — 100.0%
(Cost $3,378,455)
 
4,554,734
Liabilities in Excess of Other Assets — (0.0)% ^
 
(1,645
)
NET ASSETS — 100.0%
 
4,553,089
 
Percentages indicated are based on net assets.
 
Abbreviations
 
ETF
Exchange Traded Fund
 
^
Amount rounds to less than 0.1% of net assets.
*
Non-income producing security.
 
(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 March 31, 2024.
 
Detailed information about investment portfolios of the underlying funds and ETFs can be found in shareholder reports filed with the Securities and Exchange Commission (SEC) by each such underlying fund semi-annually on Form N-CSR and in portfolio holdings filed quarterly on Form N-PORT, and are available for download from both the SEC’s as well as each respective underlying fund’s website. Detailed information about underlying J.P. Morgan Funds can also be found at www.jpmorganfunds.com or by calling 1-800-480-4111.
JPMorgan Investor Growth & Income Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (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.
Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC 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.
Investments in open-end investment companies, excluding exchange-traded funds (“ETFs”) (“Underlying Funds”), are valued at each Underlying Fund’s net asset values ("NAV") per share as of the report date.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.
•
Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.
•
Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.
•
Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”): 
 
 
 
 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
Total Investments in Securities (a)
$4,554,734
$—
$—
$4,554,734
 
 
(a)
Please refer to the SOI for specifics of portfolio holdings.
B. Investment Transactions with Affiliates— The Fund invested in Underlying Funds and ETFs advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers. Underlying Funds’ and ETFs’ distributions may be reinvested into the Underlying Funds and ETFs. Reinvestment amounts are included in the purchases at cost amounts in the table below. 
 
For the period ended March 31, 2024
Security Description
Value at
June 30,
2023
Purchases at
Cost
Proceeds from
Sales
Net Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
(Depreciation)
Value at
March 31,
2024
Shares at
March 31,
2024
Dividend
Income
Capital Gain
Distributions
JPMorgan Core Bond Fund Class R6 Shares  (a)
$657,572
$110,487
$7,665
$(2,042
)
$2,452
$760,804
74,662
$20,279
$—
JPMorgan Investor Growth & Income Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)
(Dollar values in thousands)
 
For the period ended March 31, 2024
Security Description
Value at
June 30,
2023
Purchases at
Cost
Proceeds from
Sales
Net Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
(Depreciation)
Value at
March 31,
2024
Shares at
March 31,
2024
Dividend
Income
Capital Gain
Distributions
JPMorgan Core Plus Bond Fund Class R6
Shares  (a)
$280,795
$39,055
$2,299
$(629
)
$747
$317,669
44,305
$9,809
$—
JPMorgan Emerging Markets Debt Fund
Class R6 Shares  (a)
15,925
751
—
—
758
17,434
2,807
750
—
JPMorgan Emerging Markets Equity Fund
Class R6 Shares  (a)
98,389
1,634
3,533
(1,798
)
3,467
98,159
3,225
1,633
—
JPMorgan Emerging Markets Research
Enhanced Equity Fund Class R6 Shares  (a)
75,396
2,320
8,056
(2,513
)
4,264
71,411
4,502
2,320
—
JPMorgan Equity Income Fund Class R6 Shares
 (a)
128,612
3,273
—
—
13,324
145,209
5,915
2,327
946
JPMorgan Europe Dynamic Fund Class R6
Shares  (a)
78,969
2,738
—
—
9,409
91,116
2,729
2,739
—
JPMorgan High Yield Fund Class R6 Shares  (a)
99,210
5,096
—
—
3,980
108,286
16,841
5,097
—
JPMorgan Income Fund Class R6 Shares  (a)
162,480
15,077
—
—
4,767
182,324
21,757
6,781
—
JPMorgan International Equity Fund Class R6
Shares  (a)
90,884
6,278
—
—
8,400
105,562
5,260
2,328
—
JPMorgan International Focus Fund Class R6
Shares  (a)
59,784
1,331
5,741
314
4,257
59,945
2,319
1,330
—
JPMorgan International Research Enhanced
Equity ETF  (a)
230,645
6,302
—
—
23,115
260,062
4,153
6,641
—
JPMorgan Large Cap Growth Fund Class R6
Shares  (a)
411,056
1,311
46,576
496
101,992
468,279
6,388
1,311
—
JPMorgan Large Cap Value Fund Class R6
Shares  (a)
234,147
12,540
—
—
22,783
269,470
13,261
3,547
8,993
JPMorgan Limited Duration Bond ETF  (a)
—
42,425
—
—
(513
)
41,912
823
1,076
—
JPMorgan Limited Duration Bond Fund
Class R6 Shares  (a)
48,393
165
49,926
(297
)
1,665
—
—
165
—
JPMorgan Market Expansion Enhanced Equity
ETF  (a)
161,171
—
13,118
(617
)
26,637
174,073
2,974
2,152
—
JPMorgan Mid Cap Growth Fund Class R6
Shares  (a) *
57,126
3,949
5,665
(287
)
11,393
66,516
1,253
—
—
JPMorgan Realty Income ETF  (a)
11,624
—
11,796
(1,788
)
1,960
—
—
—
—
JPMorgan Short Duration Core Plus Fund
Class R6 Shares  (a)
47,780
1,194
7,665
(865
)
1,774
42,218
4,624
1,194
—
JPMorgan Small Cap Equity Fund Class R6
Shares  (a)
19,652
7,032
3,458
(628
)
2,739
25,337
443
279
829
JPMorgan Small Cap Value Fund Class R6
Shares  (a)
58,013
6,441
16,727
1,420
7,448
56,595
1,989
820
92
JPMorgan U.S. Equity Fund Class R6 Shares  (a)
431,446
12,375
15,864
851
80,994
509,802
21,474
3,405
5,019
JPMorgan U.S. GARP Equity Fund Class R6
Shares  (a)
134,701
1,576
13,122
(864
)
32,020
154,311
2,027
708
868
JPMorgan U.S. Government Money Market
Fund Class IM Shares, 5.25%  (a) (b)
51,543
151,666
144,948
—
—
58,261
58,261
2,077
—
JPMorgan U.S. Research Enhanced Equity Fund
Class R6 Shares  (a)
263,077
2,908
9,115
(83
)
49,994
306,781
7,508
2,564
344
JPMorgan Value Advantage Fund Class R6
Shares  (a)
137,694
10,448
—
—
15,056
163,198
4,195
2,750
7,698
Total
$4,046,084
$448,372
$365,274
$(9,330
)
$434,882
$4,554,734
 
$84,082
$24,789
 
 
(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 March 31, 2024.
*
Non-income producing security.