0001752724-24-127455.txt : 20240530 0001752724-24-127455.hdr.sgml : 20240530 20240530092837 ACCESSION NUMBER: 0001752724-24-127455 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240530 DATE AS OF CHANGE: 20240530 PERIOD START: 20240630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JPMORGAN TRUST II CENTRAL INDEX KEY: 0000763852 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-04236 FILM NUMBER: 241001458 BUSINESS ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 BUSINESS PHONE: 800-480-4111 MAIL ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 FORMER COMPANY: FORMER CONFORMED NAME: ONE GROUP MUTUAL FUNDS DATE OF NAME CHANGE: 20000721 FORMER COMPANY: FORMER CONFORMED NAME: ONE GROUP DATE OF NAME CHANGE: 19931105 FORMER COMPANY: FORMER CONFORMED NAME: HELMSMAN FUND DATE OF NAME CHANGE: 19920703 0000763852 S000003901 JPMorgan Investor Growth Fund C000010902 Class I ONIFX C000010903 Class A ONGAX C000010905 Class C OGGCX C000191459 Class R6 JFTUX NPORT-P 1 primary_doc.xml NPORT-P false 0000763852 XXXXXXXX S000003901 C000010902 C000010905 C000010903 C000191459 JPMorgan Trust II 811-04236 0000763852 549300IMXLYKELY96B40 277 Park Avenue New York 10172 800-480-4111 JPMorgan Investor Growth Fund S000003901 549300BRDXUPKL7L2828 2024-06-30 2024-03-31 N 5173955490.43 8317632.35 5165637858.08 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 256574.79000000 N N/A N/A JPMorgan Small Cap Value Fund 549300V4YKXS0HHDUK18 JPMorgan Small Cap Value Fund, Class R6 4812C0225 3070615.09500000 NS USD 87389705.60000000 1.691750525316 Long RF US N 1 N N N JPMorgan Mid Cap Growth Fund 5493005HTW43WWUWCV03 JPMorgan Mid Cap Growth Fund, Class R6 4812C2288 1977824.30100000 NS USD 105042248.63000000 2.033480695238 Long RF US N 1 N N N JPMorgan Emerging Markets Debt Fund 8KLDAXM5A9FOP50PQD10 JPMorgan Emerging Markets Debt Fund, Class R6 48121A134 2600197.94200000 NS USD 16147229.22000000 0.312589261261 Long RF US N 1 N N N JPMorgan U.S. GARP Equity Fund 549300N2J35RBS1KLI04 JPMorgan U.S. GARP Equity Fund, Class R6 46641U580 3631955.41700000 NS USD 276500765.90000000 5.352693578151 Long RF US N 1 N N N JPMorgan International Research Enhanced Equity ETF 549300O57YNNVO2LZJ82 JPMorgan International Research Enhanced Equity ETF 46641Q134 6515727.00000000 NS USD 408014824.74000000 7.898633933499 Long RF US N 1 N N N JPMorgan Large Cap Growth Fund 549300B21XF5FG1XOB26 JPMorgan Large Cap Growth Fund, Class R6 48121L841 8645647.35900000 NS USD 633812407.89000000 12.26978013757 Long RF US N 1 N N N JPMorgan Income Fund 549300J9G10ZQTTAFU03 JPMorgan Income Fund, Class R6 46637K216 2783632.55100000 NS USD 23326840.78000000 0.451577160863 Long RF US N 1 N N N JPMorgan Core Plus Bond Fund JW89OQCNJOLWVS3KT374 JPMorgan Core Plus Bond Fund, Class R6 4812C0134 9919003.26200000 NS USD 71119253.39000000 1.376775827960 Long RF US N 1 N N N JPMorgan Emerging Markets Research Enhanced Equity Fund 549300RH6H0TG40PHS83 JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 46645V626 6496687.18500000 NS USD 103037458.75000000 1.994670582430 Long RF US N 1 N N N JPMorgan Small Cap Equity Fund 549300RO68EY7ZS30I29 JPMorgan Small Cap Equity Fund, Class R6 48127B862 360759.90500000 NS USD 20639074.17000000 0.399545510874 Long RF US N 1 N N N JPMorgan High Yield Fund 15QB5UY3VV3GNSMNPX63 JPMorgan High Yield Fund, Class R6 4812C0126 9360215.58600000 NS USD 60186186.22000000 1.165125931657 Long RF US N 1 N N N JPMorgan International Equity Fund HQ7PRYSQNFVGDT1BSL78 JPMorgan International Equity Fund, Class R6 48121L882 11489518.14400000 NS USD 230594629.15000000 4.464010747275 Long RF US N 1 N N N JPMorgan Market Expansion Enhanced Equity ETF 549300MQ8JTFF5H84A93 JPMorgan Market Expansion Enhanced Equity ETF 46641Q118 4309543.00000000 NS USD 252237551.79000000 4.882989452995 Long RF US N 1 N N N JPMorgan U.S. Government Money Market Fund 8I5DZWZKVSZI1NUHU748 JPMorgan U.S. Government Money Market Fund, Class IM 4812C2270 66855506.91000000 NS USD 66855506.91000000 1.294235266713 Long STIV RF US N 1 N N N JPMorgan Large Cap Value Fund 549300JPSGHFE3RK0F55 JPMorgan Large Cap Value Fund, Class R6 48121L833 22655992.60100000 NS USD 460369769.65000000 8.912157264952 Long RF US N 1 N N N JPMorgan U.S. Research Enhanced Equity Fund 549300VOOZNRR4HQN096 JPMorgan U.S. Research Enhanced Equity Fund, Class R6 4812A1837 10210408.94200000 NS USD 417197309.37000000 8.076394838972 Long RF US N 1 N N N JPMorgan International Focus Fund 549300RMZ0H6Q5148Y98 JPMorgan International Focus Fund, Class R6 48121L130 5713048.57400000 NS USD 147682305.64000000 2.858936489498 Long RF US N 1 N N N JPMorgan Emerging Markets Equity Fund YGO3SVACG8PL3FXK2G86 JPMorgan Emerging Markets Equity Fund, Class R6 48121L122 4155681.27400000 NS USD 126498937.98000000 2.448854167779 Long RF US N 1 N N N JPMorgan U.S. Equity Fund 549300O4STN5CE50YK08 JPMorgan U.S. Equity Fund, Class R6 48121L817 32080748.85600000 NS USD 761596977.84000000 14.74352246061 Long RF US N 1 N N N JPMorgan Europe Dynamic Fund H40KNBC4QSZM6KZETD45 JPMorgan Europe Dynamic Fund, Class R6 48129C843 4398523.30360000 NS USD 146866693.11000000 2.843147296519 Long RF US N 1 N N N JPMorgan Core Bond Fund DQ695W4P67V7A4LC6I09 JPMorgan Core Bond Fund, Class R6 4812C0100 41911758.34000000 NS USD 427080817.48000000 8.267726643128 Long RF US N 1 N N N JPMorgan Equity Income Fund 5493004E5SGY8TJZ5623 JPMorgan Equity Income Fund, Class R6 46636U876 6640531.47600000 NS USD 163025047.74000000 3.155951931183 Long RF US N 1 N N N JPMorgan Value Advantage Fund 549300P7ZUUEK5GQXK57 JPMorgan Value Advantage Fund, Class R6 46641U382 4262201.12800000 NS USD 165799623.88000000 3.209664100255 Long RF US N 1 N N N 2024-04-30 JPMorgan Trust II Timothy J. Clemens Timothy J. Clemens Treasurer and Principal Financial Officer XXXX NPORT-EX 2 JPMIGF.htm PART F EDGAR HTML
JPMorgan Investor Growth 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 Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited)
 
INVESTMENTS
SHARES
(000)
VALUE
($000)
Investment Companies — 85.9%
Fixed Income — 11.5%
JPMorgan Core Bond Fund Class R6 Shares  (a)
41,912
427,081
JPMorgan Core Plus Bond Fund Class R6 Shares  (a)
9,919
71,119
JPMorgan Emerging Markets Debt Fund Class R6 Shares  (a)
2,600
16,147
JPMorgan High Yield Fund Class R6 Shares  (a)
9,360
60,186
JPMorgan Income Fund Class R6 Shares  (a)
2,796
23,430
Total Fixed Income
 
597,963
International Equity — 14.6%
JPMorgan Emerging Markets Equity Fund Class R6 Shares  (a)
4,156
126,499
JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares  (a)
6,497
103,037
JPMorgan Europe Dynamic Fund Class R6 Shares  (a)
4,398
146,867
JPMorgan International Equity Fund Class R6 Shares  (a)
11,489
230,595
JPMorgan International Focus Fund Class R6 Shares  (a)
5,713
147,682
Total International Equity
 
754,680
U.S. Equity — 59.8%
JPMorgan Equity Income Fund Class R6 Shares  (a)
6,640
163,025
JPMorgan Large Cap Growth Fund Class R6 Shares  (a)
8,646
633,812
JPMorgan Large Cap Value Fund Class R6 Shares  (a)
22,656
460,370
JPMorgan Mid Cap Growth Fund Class R6 Shares  * (a)
1,978
105,042
JPMorgan Small Cap Equity Fund Class R6 Shares  (a)
361
20,639
JPMorgan Small Cap Value Fund Class R6 Shares  (a)
3,071
87,359
JPMorgan U.S. Equity Fund Class R6 Shares  (a)
32,081
761,597
JPMorgan U.S. GARP Equity Fund Class R6 Shares  (a)
3,632
276,501
JPMorgan U.S. Research Enhanced Equity Fund Class R6 Shares  (a)
10,210
417,197
JPMorgan Value Advantage Fund Class R6 Shares  (a)
4,262
165,800
Total U.S. Equity
 
3,091,342
Total Investment Companies
(Cost $3,010,097)
 
4,443,985
Exchange-Traded Funds — 12.8%
International Equity — 7.9%
JPMorgan International Research Enhanced Equity ETF  (a)
6,516
408,015
U.S. Equity — 4.9%
JPMorgan Market Expansion Enhanced Equity ETF  (a)
4,309
252,237
Total Exchange-Traded Funds
(Cost $526,833)
 
660,252
Short-Term Investments — 1.3%
Investment Companies — 1.3%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (a) (b)
(Cost $66,856)
66,856
66,856
Total Investments — 100.0%
(Cost $3,603,786)
 
5,171,093
Other Assets Less Liabilities — 0.0% ^
 
211
NET ASSETS — 100.0%
 
5,171,304
 
Percentages indicated are based on net assets.
 
JPMorgan Investor Growth Fund
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)
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 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)
$5,171,093
$—
$—
$5,171,093
 
 
(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)
$378,432
$56,310
$7,563
$(2,050
)
$1,952
$427,081
41,912
$11,608
$—
JPMorgan Investor Growth 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)
$62,189
$11,512
$2,521
$(690
)
$629
$71,119
9,919
$2,280
$—
JPMorgan Emerging Markets Debt Fund
Class R6 Shares  (a)
14,750
695
—
—
702
16,147
2,600
695
—
JPMorgan Emerging Markets Equity Fund
Class R6 Shares  (a)
119,794
4,555
—
—
2,150
126,499
4,156
1,988
—
JPMorgan Emerging Markets Research
Enhanced Equity Fund Class R6 Shares  (a)
97,648
3,005
—
—
2,384
103,037
6,497
3,005
—
JPMorgan Equity Income Fund Class R6 Shares
 (a)
144,391
3,675
—
—
14,959
163,025
6,640
2,613
1,062
JPMorgan Europe Dynamic Fund Class R6
Shares  (a)
122,706
8,895
—
—
15,266
146,867
4,398
4,414
—
JPMorgan High Yield Fund Class R6 Shares  (a)
55,142
2,832
—
—
2,212
60,186
9,360
2,833
—
JPMorgan Income Fund Class R6 Shares  (a)
19,533
3,312
—
—
585
23,430
2,796
820
—
JPMorgan International Equity Fund Class R6
Shares  (a)
190,756
21,508
—
—
18,331
230,595
11,489
5,086
—
JPMorgan International Focus Fund Class R6
Shares  (a)
129,417
7,797
—
—
10,468
147,682
5,713
2,931
—
JPMorgan International Research Enhanced
Equity ETF  (a)
358,417
13,793
—
—
35,805
408,015
6,516
10,289
—
JPMorgan Large Cap Growth Fund Class R6
Shares  (a)
533,605
1,726
37,581
(744
)
136,806
633,812
8,646
1,726
—
JPMorgan Large Cap Value Fund Class R6
Shares  (a)
400,023
21,424
—
—
38,923
460,370
22,656
6,061
15,363
JPMorgan Market Expansion Enhanced Equity
ETF  (a)
222,014
—
6,741
(242
)
37,206
252,237
4,309
2,964
—
JPMorgan Mid Cap Growth Fund Class R6
Shares  (a) *
86,652
2,119
—
—
16,271
105,042
1,978
—
—
JPMorgan Realty Income ETF  (a)
16,564
—
16,799
(2,919
)
3,154
—
—
—
—
JPMorgan Small Cap Equity Fund Class R6
Shares  (a)
18,474
789
—
—
1,376
20,639
361
198
591
JPMorgan Small Cap Value Fund Class R6
Shares  (a)
80,465
3,354
8,575
171
11,944
87,359
3,071
1,115
120
JPMorgan U.S. Equity Fund Class R6 Shares  (a)
632,640
12,376
4,360
(437
)
121,378
761,597
32,081
5,047
7,330
JPMorgan U.S. GARP Equity Fund Class R6
Shares  (a)
230,769
2,821
12,975
(353
)
56,239
276,501
3,632
1,269
1,552
JPMorgan U.S. Government Money Market
Fund Class IM Shares, 5.25%  (a) (b)
80,034
166,040
179,218
—
—
66,856
66,856
2,496
—
JPMorgan U.S. Research Enhanced Equity Fund
Class R6 Shares  (a)
345,906
3,909
—
—
67,382
417,197
10,210
3,448
461
JPMorgan Value Advantage Fund Class R6
Shares  (a)
139,889
10,615
—
—
15,296
165,800
4,262
2,794
7,820
Total
$4,480,210
$363,062
$276,333
$(7,264
)
$611,418
$5,171,093
 
$75,680
$34,299
 
 
(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.