JPMorgan Core Bond Trust
Schedule of Portfolio Investments as of May 31, 2026
(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., 2026.

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
U.S. Treasury Obligations — 36.5%
U.S. Treasury Bonds
6.13%, 11/15/2027
200
206
4.38%, 2/15/2038
160
158
3.50%, 2/15/2039
220
197
4.25%, 5/15/2039
30
29
4.50%, 8/15/2039
30
29
1.13%, 5/15/2040
1,175
738
4.38%, 5/15/2040
60
58
3.88%, 8/15/2040
45
41
4.25%, 11/15/2040
90
85
2.25%, 5/15/2041
14,975
10,861
4.38%, 5/15/2041
30
29
2.00%, 11/15/2041
515
355
3.00%, 5/15/2042
200
158
2.75%, 11/15/2042
12,650
9,560
4.00%, 11/15/2042
14,400
12,946
3.13%, 2/15/2043
455
362
3.88%, 2/15/2043
695
613
2.88%, 5/15/2043
15,720
11,995
3.63%, 8/15/2043
73,415
62,237
3.75%, 11/15/2043
24,928
21,445
3.63%, 2/15/2044
120
101
3.38%, 5/15/2044
29,995
24,324
4.13%, 8/15/2044
4,465
4,017
3.00%, 11/15/2044
8,200
6,232
3.00%, 5/15/2045
365
276
3.00%, 11/15/2045
630
473
3.00%, 2/15/2047
548
405
3.00%, 2/15/2048
20
15
3.13%, 5/15/2048
3,764
2,808
3.00%, 8/15/2048
3,160
2,298
2.25%, 8/15/2049
14,665
9,042
2.38%, 11/15/2049
37,120
23,438
1.25%, 5/15/2050
790
372
1.38%, 8/15/2050
38,289
18,569
1.63%, 11/15/2050
26,925
13,926
1.88%, 2/15/2051
18,386
10,114
2.38%, 5/15/2051
15,863
9,827
2.00%, 8/15/2051
1,015
572
2.25%, 2/15/2052
3,750
2,236
2.88%, 5/15/2052
24,390
16,724
3.00%, 8/15/2052
620
436
4.00%, 11/15/2052
220
187
4.13%, 8/15/2053
150
130
4.25%, 2/15/2054
335
297
4.25%, 8/15/2054
305
270
4.50%, 11/15/2054
1,505
1,390
4.75%, 5/15/2055
870
837

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
U.S. Treasury Obligations — continued
4.75%, 2/15/2056
20,489
19,746
U.S. Treasury Inflation Indexed Bonds
1.75%, 1/15/2028
473
476
3.63%, 4/15/2028
1,631
1,698
2.50%, 1/15/2029
461
474
U.S. Treasury Notes
0.38%, 9/30/2027
1
1
0.75%, 1/31/2028
4,500
4,267
3.50%, 1/31/2028
25,879
25,673
3.50%, 4/30/2028
50,370
49,902
2.88%, 5/15/2028
105
102
1.25%, 6/30/2028
13,470
12,733
1.00%, 7/31/2028
4,750
4,455
4.13%, 7/31/2028
38,000
38,082
1.13%, 8/31/2028
62,228
58,382
1.25%, 9/30/2028
1,595
1,497
1.75%, 1/31/2029
3,850
3,628
1.88%, 2/28/2029
18,000
16,992
2.38%, 3/31/2029
1,515
1,448
3.88%, 4/15/2029
25,838
25,715
2.88%, 4/30/2029
25,060
24,253
2.75%, 5/31/2029
1,245
1,200
3.25%, 6/30/2029
37,270
36,401
3.50%, 1/31/2030
735
720
4.25%, 1/31/2030
39,680
39,885
3.75%, 5/31/2030
870
859
3.88%, 6/30/2030
32,145
31,860
3.88%, 7/31/2030
5,000
4,954
4.13%, 8/31/2030
57,274
57,267
3.63%, 10/31/2030
49,972
48,969
4.88%, 10/31/2030
17,985
18,520
3.88%, 3/31/2031
11,087
10,960
4.13%, 3/31/2031
21,319
21,300
1.25%, 8/15/2031
1,040
899
1.88%, 2/15/2032
53,070
46,830
4.13%, 2/29/2032
37,975
37,822
2.88%, 5/15/2032
15,725
14,618
4.00%, 7/31/2032
41,540
41,016
2.75%, 8/15/2032
3,490
3,208
3.88%, 12/31/2032
6,918
6,765
3.50%, 2/15/2033
58,615
55,993
3.88%, 8/15/2033
590
575
4.50%, 11/15/2033
41,008
41,492
4.00%, 2/15/2034
46,466
45,466
3.88%, 8/15/2034
193,002
186,624
4.25%, 11/15/2034
79,550
78,857
4.63%, 2/15/2035
57,853
58,845

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
U.S. Treasury Obligations — continued
U.S. Treasury STRIPS Bonds
3.71%, 5/15/2028(a)
200
185
4.72%, 8/15/2030(a)
6,780
5,699
4.68%, 11/15/2030(a)
6,865
5,710
4.22%, 2/15/2031(a)
37,800
31,100
4.90%, 8/15/2031(a)
29,215
23,500
4.36%, 11/15/2031(a)
18,930
15,056
4.14%, 2/15/2032(a)
815
641
4.11%, 5/15/2032(a)
250
194
4.27%, 2/15/2033(a)
60
45
4.33%, 8/15/2033(a)
200
147
4.30%, 11/15/2033(a)
505
366
4.40%, 2/15/2034(a)
125
89
4.37%, 5/15/2034(a)
230
162
4.29%, 11/15/2034(a)
4,550
3,132
4.31%, 2/15/2035(a)
6,410
4,357
4.51%, 5/15/2035(a)
1,225
822
4.33%, 8/15/2035(a)
16,462
10,908
4.44%, 2/15/2036(a)
23,412
15,106
4.29%, 5/15/2036(a)
9,364
5,960
4.52%, 8/15/2036(a)
25,649
16,114
4.37%, 11/15/2036(a)
25,806
15,988
4.50%, 2/15/2037(a)
18,347
11,208
4.43%, 5/15/2037(a)
9,036
5,447
4.54%, 8/15/2037(a)
17,755
10,546
4.55%, 11/15/2037(a)
36,537
21,389
4.66%, 2/15/2038(a)
5,447
3,143
4.81%, 8/15/2040(a)
37,046
18,379
5.25%, 11/15/2040(a)
5,430
2,655
5.36%, 2/15/2041(a)
3,487
1,677
2.70%, 11/15/2041(a)
500
230
5.00%, 2/15/2042(a)
2,232
1,011
5.29%, 5/15/2046(a)
3,560
1,260
5.01%, 11/15/2049(a)
9,840
2,919
Total U.S. Treasury Obligations
(Cost $1,753,360)
1,697,992
Corporate Bonds — 23.6%
Aerospace & Defense — 0.5%
Airbus SE (France) 3.95%, 4/10/2047(b)
150
119
BAE Systems plc (United Kingdom)
1.90%, 2/15/2031(b)
1,007
890
3.00%, 9/15/2050(b)
502
332
Boeing Co. (The)
5.04%, 5/1/2027
960
965
3.25%, 3/1/2028
840
823
6.30%, 5/1/2029
1,095
1,146
5.15%, 5/1/2030
1,540
1,564
6.39%, 5/1/2031
2,120
2,262

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Aerospace & Defense — continued
6.53%, 5/1/2034
1,177
1,285
5.71%, 5/1/2040
745
759
Honeywell Aerospace, Inc. 4.95%, 3/16/2036(b)
3,495
3,457
L3Harris Technologies, Inc.
3.85%, 12/15/2026
55
55
5.25%, 6/1/2031
1,130
1,155
5.40%, 7/31/2033
1,102
1,131
4.85%, 4/27/2035
10
10
Leidos, Inc.
4.38%, 5/15/2030
2,030
1,997
2.30%, 2/15/2031
465
415
5.75%, 3/15/2033
630
652
5.00%, 3/15/2036
1,460
1,415
Lockheed Martin Corp.
4.50%, 5/15/2036
10
10
2.80%, 6/15/2050
35
22
Northrop Grumman Corp. 3.25%, 1/15/2028
15
15
RTX Corp.
5.15%, 2/27/2033
934
953
4.50%, 6/1/2042
2,799
2,502
4.15%, 5/15/2045
558
460
3.75%, 11/1/2046
140
107
4.35%, 4/15/2047
199
166
5.38%, 2/27/2053
65
62
 
24,729
Air Freight & Logistics — 0.0% ^
FedEx Corp. 4.05%, 2/15/2048
140
105
Automobiles — 0.1%
Hyundai Capital America
1.50%, 6/15/2026(b)
775
774
3.00%, 2/10/2027(b)
355
352
2.38%, 10/15/2027(b)
530
515
1.80%, 1/10/2028(b)
805
770
 
2,411
Banks — 7.3%
ABN AMRO Bank NV (Netherlands)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 6.34%, 9/18/2027(b) (c)
900
905
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.47%, 12/13/2029(b) (c)
800
759
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 5.52%, 12/3/2035(b) (c)
2,700
2,742
AIB Group plc (Ireland)
(SOFR + 1.65%), 5.32%, 5/15/2031(b) (c)
6,490
6,589
(SOFRINDX + 1.91%), 5.87%, 3/28/2035(b) (c)
1,500
1,556
Banco Bilbao Vizcaya Argentaria SA (Spain)
4.97%, 5/8/2031
1,400
1,400
5.13%, 3/3/2036
2,800
2,724
Banco Nacional de Panama (Panama) 2.50%, 8/11/2030(b)
1,250
1,114

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Banks — continued
Banco Santander SA (Spain)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027(c)
200
198
5.59%, 8/8/2028
2,600
2,657
6.61%, 11/7/2028
1,400
1,466
4.55%, 11/6/2030
1,800
1,772
5.13%, 11/6/2035
1,400
1,374
Bank of America Corp.
(3-MONTH CME TERM SOFR + 1.33%), 3.97%, 3/5/2029(c)
70
69
(SOFR + 1.06%), 2.09%, 6/14/2029(c)
210
200
(SOFR + 2.15%), 2.59%, 4/29/2031(c)
3,410
3,154
(SOFR + 1.21%), 2.57%, 10/20/2032(c)
1,120
998
(SOFR + 1.33%), 2.97%, 2/4/2033(c)
435
393
(SOFR + 1.84%), 5.87%, 9/15/2034(c)
3,040
3,187
(SOFR + 1.31%), 5.51%, 1/24/2036(c)
2,710
2,776
(SOFR + 1.13%), 5.05%, 2/6/2037(c)
3,600
3,549
(3-MONTH CME TERM SOFR + 2.08%), 4.24%, 4/24/2038(c)
300
275
(SOFR + 1.93%), 2.68%, 6/19/2041(c)
7,185
5,212
Bank of Ireland Group plc (Ireland)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027(b) (c)
755
749
(SOFR + 1.62%), 5.60%, 3/20/2030(b) (c)
895
914
Bank of Montreal (Canada)
Series J, (SOFR + 0.97%), 4.44%, 1/14/2032(c)
2,400
2,363
(USD Swap Semi 5 Year + 1.43%), 3.80%, 12/15/2032(c) (d)
13
13
Bank of New Zealand (New Zealand) 5.08%, 1/30/2029(b)
910
925
Bank of Nova Scotia (The) (Canada)
(SOFR + 0.89%), 4.93%, 2/14/2029(c)
155
156
4.85%, 2/1/2030
472
476
(SOFR + 0.97%), 4.90%, 6/5/2032(c) (e)
3,640
3,644
(SOFR + 1.05%), 4.81%, 2/2/2034(c)
2,375
2,344
Banque Federative du Credit Mutuel SA (France)
5.79%, 7/13/2028(b)
2,405
2,462
5.54%, 1/22/2030(b)
5,178
5,311
4.54%, 1/15/2031(b)
4,335
4,274
5.11%, 1/15/2036(b)
995
977
Barclays plc (United Kingdom)
(SOFR + 1.88%), 6.50%, 9/13/2027(c)
2,840
2,856
(SOFR + 1.14%), 4.52%, 2/24/2032(c)
875
857
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.89%, 11/24/2032(c)
585
524
(SOFR + 2.98%), 6.22%, 5/9/2034(c)
412
435
(SOFR + 1.59%), 5.79%, 2/25/2036(c)
895
913
(SOFR + 1.51%), 5.21%, 2/24/2037(c)
1,610
1,567
BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico (Mexico) 5.40%, 6/3/2031(b)
2,856
2,860
BNP Paribas SA (France)
(SOFR + 1.52%), 5.18%, 1/9/2030(b) (c)
2,015
2,041
(SOFR + 1.59%), 5.50%, 5/20/2030(b) (c)
1,222
1,247
(SOFR + 1.28%), 5.28%, 11/19/2030(b) (c)
470
477
(SOFR + 1.68%), 5.09%, 5/9/2031(b) (c)
3,895
3,927

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Banks — continued
(SOFR + 1.62%), 5.79%, 1/13/2033(b) (c)
2,285
2,363
(SOFR + 1.56%), 3.13%, 1/20/2033(b) (c)
765
691
BPCE SA (France)
(SOFR + 1.68%), 5.88%, 1/14/2031(b) (c)
1,600
1,647
(SOFR + 1.58%), 5.39%, 5/28/2031(b) (c)
3,605
3,653
(SOFR + 1.27%), 4.76%, 1/13/2032(b) (c)
2,592
2,561
(SOFR + 1.31%), 2.28%, 1/20/2032(b) (c)
730
646
(SOFR + 1.22%), 5.18%, 6/2/2032(b) (c)
1,600
1,603
(SOFR + 1.85%), 5.94%, 5/30/2035(b) (c)
3,648
3,745
(SOFR + 2.04%), 6.29%, 1/14/2036(b) (c)
6,485
6,784
(SOFR + 1.96%), 6.03%, 5/28/2036(b) (c)
3,945
4,049
CaixaBank SA (Spain)
(SOFRINDX + 1.78%), 5.67%, 3/15/2030(b) (c)
634
649
(SOFR + 1.21%), 4.82%, 4/22/2032(b) (c)
1,040
1,034
(SOFR + 2.77%), 6.84%, 9/13/2034(b) (c)
1,449
1,582
(SOFR + 2.26%), 6.04%, 6/15/2035(b) (c)
4,960
5,178
(SOFR + 1.79%), 5.58%, 7/3/2036(b) (c)
7,892
7,982
Canadian Imperial Bank of Commerce (Canada)
5.26%, 4/8/2029
630
643
(SOFR + 1.34%), 4.63%, 9/11/2030(c)
2,800
2,800
(SOFR + 1.11%), 5.25%, 1/13/2031(c)
150
153
Citigroup, Inc.
4.30%, 11/20/2026
1,230
1,231
(3-MONTH CME TERM SOFR + 1.65%), 3.67%, 7/24/2028(c)
1,628
1,615
(SOFR + 1.34%), 4.54%, 9/19/2030(c)
1,938
1,930
(SOFR + 1.46%), 4.95%, 5/7/2031(c)
2,000
2,013
(SOFR + 1.35%), 3.06%, 1/25/2033(c)
719
652
(SOFR + 1.45%), 5.45%, 6/11/2035(c)
6,140
6,248
(SOFR + 1.47%), 5.33%, 3/27/2036(c)
4,240
4,272
(SOFR + 1.38%), 2.90%, 11/3/2042(c)
240
174
4.75%, 5/18/2046
20
17
Cooperatieve Rabobank UA (Netherlands)
3.75%, 7/21/2026
945
944
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.92%), 4.99%, 5/27/2031(b) (c)
2,545
2,563
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 5.71%, 1/21/2033(b) (c)
1,700
1,764
Credit Agricole SA (France)
(SOFR + 1.46%), 5.22%, 5/27/2031(b) (c)
914
924
(SOFR + 1.17%), 4.66%, 1/12/2032(b) (c)
639
630
(SOFR + 1.74%), 5.86%, 1/9/2036(b) (c)
2,440
2,515
(SOFR + 1.43%), 5.26%, 1/12/2037(b) (c)
5,030
4,952
Danske Bank A/S (Denmark)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.40%), 5.71%, 3/1/2030(b) (c)
1,535
1,574
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 4.61%, 10/2/2030(b) (c)
998
993
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.93%), 5.02%, 3/4/2031(b) (c)
1,445
1,454
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 4.42%, 9/12/2031(b) (c)
1,025
1,007
DNB Bank ASA (Norway)
(SOFR + 1.05%), 4.85%, 11/5/2030(b) (c)
975
982

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Banks — continued
(SOFR + 1.05%), 4.38%, 11/4/2031(b) (c)
945
930
Fifth Third Bancorp
(SOFR + 1.84%), 5.63%, 1/29/2032(c)
155
160
(SOFR + 0.95%), 4.57%, 4/29/2032(c)
1,195
1,175
(SOFR + 1.24%), 5.14%, 1/29/2037(c)
1,965
1,925
HSBC Holdings plc (United Kingdom)
(SOFR + 1.73%), 2.01%, 9/22/2028(c)
1,215
1,176
(SOFR + 1.29%), 2.21%, 8/17/2029(c)
815
775
(SOFR + 1.29%), 5.29%, 11/19/2030(c)
2,375
2,409
(SOFR + 1.29%), 5.13%, 3/3/2031(c)
1,165
1,176
(SOFR + 1.57%), 5.24%, 5/13/2031(c)
905
917
(SOFR + 1.95%), 2.36%, 8/18/2031(c)
1,160
1,049
(SOFR + 1.19%), 4.62%, 11/6/2031(c)
1,655
1,635
(SOFR + 1.21%), 4.68%, 3/10/2032(c)
3,920
3,869
(SOFR + 1.43%), 5.13%, 11/6/2036(c)
2,000
1,971
(SOFR + 1.55%), 5.28%, 3/10/2037(c)
4,050
4,007
(SOFR + 2.65%), 6.33%, 3/9/2044(c)
700
749
Huntington Bancshares, Inc. (SOFR + 1.28%), 5.27%, 1/15/2031(c)
1,075
1,091
ING Groep NV (Netherlands)
(SOFR + 1.56%), 6.08%, 9/11/2027(c)
361
363
Series VAR, (SOFRINDX + 1.26%), 4.80%, 3/23/2032(c)
2,060
2,051
(SOFRINDX + 1.61%), 5.42%, 3/23/2037(c)
1,360
1,363
KBC Group NV (Belgium)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 4.93%, 10/16/2030(b) (c)
200
201
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 4.45%, 9/23/2031(b) (c)
4,679
4,600
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.05%), 6.32%, 9/21/2034(b) (c)
1,890
2,025
KeyCorp
(SOFRINDX + 1.23%), 5.12%, 4/4/2031(c)
1,621
1,636
(SOFR + 1.37%), 5.31%, 1/28/2037(c)
1,045
1,030
Lloyds Banking Group plc (United Kingdom)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.38%), 5.46%, 1/5/2028(c)
1,140
1,147
4.38%, 3/22/2028
475
475
M&T Bank Corp. (SOFR + 1.40%), 5.18%, 7/8/2031(c)
2,240
2,263
Mitsubishi UFJ Financial Group, Inc. (Japan)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.75%), 1.54%, 7/20/2027(c)
940
936
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.17%), 5.16%, 4/24/2031(c)
800
812
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.93%), 5.19%, 9/12/2036(c)
2,220
2,216
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 5.06%, 1/14/2037(c)
2,395
2,361
Mizuho Financial Group, Inc. (Japan)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.08%), 5.38%, 7/10/2030(c)
2,725
2,781
(3-MONTH CME TERM SOFR + 1.57%), 2.87%, 9/13/2030(c)
720
681
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.92%), 4.71%, 7/8/2031(c)
2,130
2,128
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 5.32%, 7/8/2036(c)
3,345
3,363
NatWest Group plc (United Kingdom)
(3-MONTH SOFR + 1.75%), 4.89%, 5/18/2029(c)
690
694
(3-MONTH SOFR + 1.91%), 5.08%, 1/27/2030(c)
905
913
(3-MONTH SOFR + 1.87%), 4.45%, 5/8/2030(c)
6,240
6,197

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Banks — continued
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.22%), 4.96%, 8/15/2030(c)
200
201
NatWest Markets plc (United Kingdom) 5.41%, 5/17/2029(b)
2,181
2,228
PNC Financial Services Group, Inc. (The)
(SOFR + 1.26%), 4.81%, 10/21/2032(c)
1,160
1,157
(SOFR + 2.28%), 6.88%, 10/20/2034(c)
210
232
(SOFR + 1.42%), 5.37%, 7/21/2036(c)
2,415
2,439
Royal Bank of Canada (Canada) (SOFRINDX + 1.08%), 4.65%, 10/18/2030(c)
1,820
1,822
Santander Holdings USA, Inc.
(SOFR + 2.50%), 6.17%, 1/9/2030(c)
1,500
1,546
(SOFR + 2.14%), 6.34%, 5/31/2035(c)
670
709
Santander UK Group Holdings plc (United Kingdom)
(SOFR + 2.60%), 6.53%, 1/10/2029(c)
2,100
2,161
(SOFRINDX + 1.55%), 4.86%, 9/11/2030(c)
1,290
1,291
(SOFRINDX + 1.52%), 5.69%, 4/15/2031(c)
3,300
3,385
Skandinaviska Enskilda Banken AB (Sweden)
5.38%, 3/5/2029(b)
1,860
1,899
4.50%, 9/3/2030(b)
1,615
1,601
Societe Generale SA (France)
5.25%, 2/19/2027(b)
1,379
1,388
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.79%, 6/9/2027(b) (c)
395
395
3.00%, 1/22/2030(b)
235
220
(SOFR + 1.65%), 5.51%, 5/22/2031(b) (c)
2,519
2,566
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.34%, 1/21/2033(b) (c)
3,655
3,318
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 6.10%, 4/13/2033(b) (c)
2,380
2,475
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 6.07%, 1/19/2035(b) (c)
878
910
(SOFR + 1.73%), 5.44%, 10/3/2036(b) (c)
5,500
5,420
(SOFR + 1.60%), 5.40%, 4/10/2037(b) (c)
8,395
8,222
Standard Chartered plc (United Kingdom)
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 5.69%, 5/14/2028(b) (c)
382
386
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.15%), 5.01%, 10/15/2030(b) (c)
440
443
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 5.24%, 1/13/2037(b) (c)
805
789
Sumitomo Mitsui Financial Group, Inc. (Japan)
3.36%, 7/12/2027
14
14
3.04%, 7/16/2029
1,315
1,254
5.71%, 1/13/2030
1,480
1,530
5.24%, 4/15/2030
1,500
1,528
(SOFR + 1.36%), 5.57%, 1/15/2047(c)
2,820
2,773
Sumitomo Mitsui Trust Bank Ltd. (Japan) 4.80%, 3/5/2036(b)
2,700
2,609
Toronto-Dominion Bank (The) (Canada)
5.16%, 1/10/2028
600
607
5.30%, 1/30/2032
1,410
1,444
4.46%, 6/8/2032
220
217
Truist Financial Corp.
(SOFR + 2.05%), 6.05%, 6/8/2027(c)
720
720
(SOFR + 2.45%), 7.16%, 10/30/2029(c)
806
853
(SOFR + 1.85%), 5.12%, 1/26/2034(c)
765
765
(SOFR + 1.92%), 5.71%, 1/24/2035(c)
824
849

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Banks — continued
(SOFR + 1.40%), 4.96%, 10/23/2036(c)
2,440
2,366
UniCredit SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027(b) (c)
665
665
US Bancorp
(SOFR + 1.56%), 5.38%, 1/23/2030(c)
965
984
(SOFR + 1.25%), 5.10%, 7/23/2030(c)
80
81
(SOFR + 1.30%), 5.08%, 5/15/2031(c)
1,960
1,987
(SOFR + 0.87%), 4.48%, 1/26/2032(c)
4,500
4,440
(SOFR + 1.60%), 4.84%, 2/1/2034(c)
150
148
Wells Fargo & Co.
(SOFR + 1.74%), 5.57%, 7/25/2029(c)
1,269
1,294
(SOFR + 1.79%), 6.30%, 10/23/2029(c)
570
592
(SOFR + 2.10%), 4.90%, 7/25/2033(c)
1,236
1,231
(SOFR + 2.02%), 5.39%, 4/24/2034(c)
1,935
1,970
(SOFR + 1.99%), 5.56%, 7/25/2034(c)
2,355
2,423
(SOFR + 1.78%), 5.50%, 1/23/2035(c)
6,060
6,189
(SOFR + 1.38%), 5.21%, 12/3/2035(c)
5,960
5,966
(SOFR + 1.74%), 5.61%, 4/23/2036(c)
7,589
7,786
(SOFR + 1.10%), 4.96%, 1/23/2037(c)
1,120
1,094
(SOFR + 2.53%), 3.07%, 4/30/2041(c)
5
4
5.38%, 11/2/2043
30
28
4.75%, 12/7/2046
24
20
 
340,482
Beverages — 0.1%
Anheuser-Busch Cos. LLC (Belgium) 4.70%, 2/1/2036
2,604
2,535
Coca-Cola Femsa SAB de CV (Mexico) 1.85%, 9/1/2032
675
561
Constellation Brands, Inc.
4.75%, 5/9/2032
300
298
5.25%, 11/15/2048
220
203
Maple Parent Holdings Corp.
5.05%, 3/26/2031(b)
930
930
5.70%, 3/26/2036(b)
719
727
 
5,254
Biotechnology — 0.5%
AbbVie, Inc.
4.50%, 5/14/2035
15
15
4.75%, 3/15/2036
1,485
1,455
4.05%, 11/21/2039
4,909
4,329
4.63%, 10/1/2042
480
433
4.40%, 11/6/2042
790
697
4.45%, 5/14/2046
1,460
1,256
4.25%, 11/21/2049
80
66
5.55%, 3/15/2056
1,190
1,167
Amgen, Inc.
5.25%, 3/2/2030
80
82
5.25%, 3/2/2033
85
87
4.85%, 2/19/2036
1,520
1,490

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Biotechnology — continued
3.15%, 2/21/2040
928
723
5.60%, 3/2/2043
426
423
4.66%, 6/15/2051
1,854
1,573
4.20%, 2/22/2052
55
43
5.65%, 3/2/2053
3,157
3,069
Biogen, Inc.
5.75%, 5/15/2035
1,299
1,353
3.25%, 2/15/2051
3,060
2,001
6.45%, 5/15/2055
1,925
2,047
Gilead Sciences, Inc.
4.00%, 9/1/2036
9
8
2.60%, 10/1/2040
2,493
1,815
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030
1,270
1,126
 
25,258
Broadline Retail — 0.1%
Amazon.com, Inc.
4.88%, 3/13/2036
3,986
3,938
3.95%, 4/13/2052
110
85
5.80%, 3/13/2056
1,570
1,571
4.25%, 8/22/2057
30
24
2.70%, 6/3/2060
10
5
 
5,623
Building Products — 0.0% ^
Masco Corp. 6.50%, 8/15/2032
620
664
Trane Technologies Financing Ltd. 5.25%, 3/3/2033
650
667
 
1,331
Capital Markets — 2.2%
Bank of New York Mellon Corp. (The)
Series J, (SOFR + 1.61%), 4.97%, 4/26/2034(c)
155
155
(SOFR + 1.85%), 6.47%, 10/25/2034(c)
1,000
1,092
Blackstone Holdings Finance Co. LLC 4.45%, 7/15/2045(b)
429
355
Brookfield Finance, Inc. (Canada)
3.90%, 1/25/2028
350
346
4.85%, 3/29/2029
411
413
4.70%, 9/20/2047
105
89
Charles Schwab Corp. (The) (SOFR + 2.01%), 6.14%, 8/24/2034(c)
145
154
Deutsche Bank AG (Germany)
(SOFR + 2.52%), 7.15%, 7/13/2027(c)
645
647
(SOFR + 1.22%), 2.31%, 11/16/2027(c)
650
643
(SOFR + 1.32%), 2.55%, 1/7/2028(c)
1,300
1,285
(SOFR + 1.21%), 5.37%, 1/10/2029(c)
1,720
1,739
(SOFR + 3.18%), 6.72%, 1/18/2029(c)
296
306
5.41%, 5/10/2029
1,005
1,031
(SOFR + 2.51%), 6.82%, 11/20/2029(c)
410
430
(SOFR + 1.70%), 5.00%, 9/11/2030(c)
665
668
(SOFR + 1.72%), 5.30%, 5/9/2031(c)
2,060
2,079

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Capital Markets — continued
(SOFR + 1.30%), 4.95%, 8/4/2031(c)
1,820
1,815
(SOFR + 3.04%), 3.55%, 9/18/2031(c)
1,775
1,671
(SOFR + 1.10%), 4.47%, 12/10/2031(c)
775
763
FMR LLC 6.45%, 11/15/2039(b)
500
542
Goldman Sachs Group, Inc. (The)
(SOFR + 0.91%), 1.95%, 10/21/2027(c)
870
862
(SOFR + 1.11%), 2.64%, 2/24/2028(c)
1,260
1,244
(3-MONTH CME TERM SOFR + 1.42%), 3.81%, 4/23/2029(c)
30
30
(SOFR + 1.77%), 6.48%, 10/24/2029(c)
1,350
1,406
(SOFR + 1.21%), 5.05%, 7/23/2030(c)
1,518
1,532
(SOFR + 1.14%), 4.69%, 10/23/2030(c)
1,840
1,837
(SOFR + 1.58%), 5.22%, 4/23/2031(c)
1,483
1,505
(SOFR + 0.96%), 4.52%, 1/21/2032(c)
5,000
4,923
(SOFR + 1.09%), 1.99%, 1/27/2032(c)
880
775
(SOFR + 1.28%), 2.62%, 4/22/2032(c)
1,000
901
(SOFR + 1.03%), 4.97%, 6/3/2032(c)
3,000
3,007
(SOFR + 1.25%), 2.38%, 7/21/2032(c)
2,255
1,994
(SOFR + 1.34%), 5.09%, 4/20/2034(c)
2,855
2,849
(SOFR + 1.55%), 5.33%, 7/23/2035(c)
4,810
4,841
(SOFR + 1.38%), 5.54%, 1/28/2036(c)
1,825
1,857
(SOFR + 1.33%), 4.94%, 10/21/2036(c)
3,595
3,492
(SOFR + 1.19%), 5.07%, 1/21/2037(c)
3,270
3,199
(SOFR + 1.31%), 5.43%, 6/3/2037(c)
3,000
3,016
6.75%, 10/1/2037
685
749
(3-MONTH CME TERM SOFR + 1.63%), 4.02%, 10/31/2038(c)
305
268
Jefferies Financial Group, Inc. 6.45%, 6/8/2027
771
786
Macquarie Bank Ltd. (Australia) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.70%), 3.05%,
3/3/2036(b) (c) (d)
575
520
Macquarie Group Ltd. (Australia)
(3-MONTH CME TERM SOFR + 1.63%), 3.76%, 11/28/2028(b) (c)
30
30
(SOFR + 1.44%), 2.69%, 6/23/2032(b) (c)
115
103
(SOFR + 1.53%), 2.87%, 1/14/2033(b) (c)
70
63
Moody's Corp. 3.25%, 5/20/2050
45
30
Morgan Stanley
3.59%, 7/22/2028(f)
71
70
(SOFR + 1.45%), 5.17%, 1/16/2030(c)
2,470
2,500
(3-MONTH CME TERM SOFR + 1.89%), 4.43%, 1/23/2030(c)
180
179
(SOFR + 1.22%), 5.04%, 7/19/2030(c)
615
621
Series I, (SOFR + 1.07%), 4.36%, 10/22/2031(c)
4,065
3,989
(SOFR + 1.03%), 1.79%, 2/13/2032(c)
1,740
1,515
(SOFR + 1.20%), 4.71%, 3/12/2032(c)
3,165
3,136
(SOFRINDX + 1.18%), 4.81%, 4/16/2032(c)
1,890
1,882
(SOFR + 1.87%), 5.25%, 4/21/2034(c)
140
141
(SOFR + 1.88%), 5.42%, 7/21/2034(c)
1,820
1,855
(SOFR + 1.56%), 5.32%, 7/19/2035(c)
870
879
Series I, (SOFR + 1.31%), 4.89%, 10/22/2036(c)
1,715
1,664
(SOFR + 1.18%), 5.07%, 1/30/2037(c)
3,180
3,114

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Capital Markets — continued
(SOFRINDX + 1.41%), 5.30%, 4/10/2037(c)
1,730
1,725
(3-MONTH CME TERM SOFR + 1.69%), 4.46%, 4/22/2039(c)
1,265
1,171
(SOFR + 1.49%), 3.22%, 4/22/2042(c)
35
27
4.30%, 1/27/2045
485
409
(SOFR + 1.78%), 5.90%, 3/13/2047(c)
6,000
6,089
Nasdaq, Inc. 5.55%, 2/15/2034
392
405
Nomura Holdings, Inc. (Japan) 2.68%, 7/16/2030
700
643
Northern Trust Corp. (3-MONTH SOFR + 1.13%), 3.38%, 5/8/2032(c)
8
8
State Street Corp.
(SOFR + 1.61%), 4.42%, 5/13/2033(c)
40
39
(SOFR + 1.73%), 4.16%, 8/4/2033(c)
70
67
(SOFR + 1.22%), 4.78%, 10/23/2036(c)
1,050
1,023
UBS Group AG (Switzerland)
(3-MONTH SOFR + 1.41%), 3.87%, 1/12/2029(b) (c)
1,200
1,186
(SOFR + 1.06%), 4.40%, 9/23/2031(b) (c)
1,020
1,002
(SOFR + 1.73%), 3.09%, 5/14/2032(b) (c)
1,115
1,023
(SOFR + 1.29%), 4.84%, 11/6/2033(b) (c)
3,010
2,956
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.00%), 6.30%, 9/22/2034(b) (c)
539
575
(SOFR + 1.34%), 5.01%, 3/23/2037(b) (c)
2,925
2,851
(SOFR + 1.34%), 5.20%, 8/10/2037(b) (c)
2,630
2,589
 
103,375
Chemicals — 0.2%
CF Industries, Inc. 5.30%, 11/26/2035
770
768
Chevron Phillips Chemical Co. LLC 3.70%, 6/1/2028(b)
30
30
DuPont de Nemours, Inc. 5.32%, 11/15/2038
4,004
3,959
Ecolab, Inc. 2.75%, 8/18/2055
6
4
International Flavors & Fragrances, Inc. 2.30%, 11/1/2030(b)
3,500
3,147
Nutrien Ltd. (Canada)
4.20%, 4/1/2029
175
174
4.13%, 3/15/2035
470
432
5.00%, 4/1/2049
230
205
5.80%, 3/27/2053
70
69
 
8,788
Commercial Services & Supplies — 0.1%
Element Fleet Management Corp. (Canada)
5.64%, 3/13/2027(b)
2,690
2,712
6.32%, 12/4/2028(b)
2,010
2,087
5.04%, 3/25/2030(b)
1,120
1,130
Ford Foundation (The) Series 2020, 2.82%, 6/1/2070
365
203
 
6,132
Communications Equipment — 0.0% ^
Cisco Systems, Inc. 5.30%, 2/26/2054
1,550
1,475
Motorola Solutions, Inc. 4.85%, 8/15/2030
155
156
 
1,631

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Construction & Engineering — 0.1%
Quanta Services, Inc.
2.90%, 10/1/2030
1,440
1,341
2.35%, 1/15/2032
1,095
963
5.10%, 8/9/2035
1,730
1,725
 
4,029
Construction Materials — 0.0% ^
CRH America, Inc. 5.13%, 5/18/2045(b)
893
824
Eagle Materials, Inc. 2.50%, 7/1/2031
95
85
 
909
Consumer Finance — 1.1%
AerCap Ireland Capital DAC (Ireland)
2.45%, 10/29/2026
1,560
1,549
6.10%, 1/15/2027
1,560
1,575
5.10%, 1/19/2029
235
238
5.38%, 12/15/2031
230
234
3.30%, 1/30/2032
3,145
2,878
4.75%, 1/15/2033
970
950
5.00%, 11/15/2035
760
738
Aircastle Ltd.
5.25%, 3/15/2030(b)
811
818
5.00%, 9/15/2030(b)
714
712
5.75%, 10/1/2031(b)
986
1,011
American Express Co.
5.85%, 11/5/2027
1,470
1,502
(SOFR + 1.00%), 5.10%, 2/16/2028(c)
1,500
1,508
(SOFR + 1.22%), 4.92%, 7/20/2033(c)
665
666
(SOFRINDX + 1.32%), 5.44%, 1/30/2036(c)
1,410
1,439
(SOFR + 1.79%), 5.67%, 4/25/2036(c)
61
63
(SOFR + 1.24%), 4.80%, 10/24/2036(c)
1,205
1,166
Avolon Holdings Funding Ltd. (Ireland)
2.53%, 11/18/2027(b)
2,220
2,152
4.95%, 1/15/2028(b)
1,871
1,877
5.75%, 3/1/2029(b)
575
587
4.20%, 4/15/2029(b)
1,210
1,189
5.75%, 11/15/2029(b)
235
241
5.15%, 1/15/2030(b)
2,345
2,356
4.90%, 10/10/2030(b)
795
789
4.70%, 1/30/2031(b)
1,370
1,345
4.95%, 10/15/2032(b)
560
546
4.85%, 4/1/2033(b)
4,574
4,418
Capital One Financial Corp.
3.75%, 7/28/2026
24
24
(SOFR + 2.64%), 6.31%, 6/8/2029(c)
780
805
(SOFR + 1.91%), 5.70%, 2/1/2030(c)
1,060
1,086
(SOFR + 1.27%), 2.62%, 11/2/2032(c)
920
815
(SOFR + 1.63%), 5.20%, 9/11/2036(c)
2,135
2,080

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Consumer Finance — continued
(SOFR + 1.51%), 5.40%, 1/30/2037(c)
3,090
3,050
General Motors Financial Co., Inc. 5.80%, 6/23/2028
110
112
Medallion Financial Corp. Series QIB, 8.25%, 5/1/2031(b)
6,500
6,488
Mitsubishi HC Finance America LLC (Japan) 5.81%, 9/12/2028(b)
445
456
Synchrony Financial (SOFRINDX + 2.13%), 5.94%, 8/2/2030(c)
1,500
1,530
 
48,993
Consumer Staples Distribution & Retail — 0.0% ^
Alimentation Couche-Tard, Inc. (Canada) 3.55%, 7/26/2027(b)
60
59
Kroger Co. (The)
5.00%, 9/15/2034
510
505
5.00%, 4/15/2042
1,100
1,021
5.50%, 9/15/2054
440
414
 
1,999
Containers & Packaging — 0.1%
Amcor Flexibles North America, Inc. 5.13%, 3/12/2036
2,505
2,459
Packaging Corp. of America 4.05%, 12/15/2049
845
654
Sonoco Products Co. 4.60%, 9/1/2029
155
155
WRKCo, Inc.
3.90%, 6/1/2028
170
168
4.90%, 3/15/2029
20
20
 
3,456
Diversified — 0.1%
Ygrene Frn 8.50%, 7/25/2045‡ (b)
4,127
4,148
Diversified Consumer Services — 0.0% ^
Pepperdine University Series 2020, 3.30%, 12/1/2059
600
386
President and Fellows of Harvard College 3.30%, 7/15/2056
21
14
University of Miami Series 2022, 4.06%, 4/1/2052
480
370
University of Southern California Series A, 3.23%, 10/1/2120
570
318
 
1,088
Diversified REITs — 0.1%
Equinix Europe 2 Financing Corp. LLC
4.60%, 11/15/2030
2,985
2,958
4.70%, 3/15/2033
550
539
Safehold GL Holdings LLC
2.80%, 6/15/2031
977
884
2.85%, 1/15/2032
70
63
WP Carey, Inc.
4.25%, 10/1/2026
350
350
2.40%, 2/1/2031
65
58
2.25%, 4/1/2033
1,180
988
 
5,840
Diversified Telecommunication Services — 0.4%
AT&T, Inc.
1.65%, 2/1/2028
250
239

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Diversified Telecommunication Services — continued
5.40%, 2/15/2034
230
235
5.13%, 4/30/2036
1,160
1,144
3.50%, 6/1/2041
1,646
1,280
3.50%, 9/15/2053
113
75
3.55%, 9/15/2055
5,551
3,629
Bell Telephone Co. of Canada or Bell Canada (Canada) 5.45%, 11/15/2036(e)
2,130
2,135
Comcast Corp.
5.17%, 1/15/2037(b)
565
552
3.90%, 3/1/2038
82
70
3.25%, 11/1/2039
1,800
1,392
3.45%, 2/1/2050
754
500
2.89%, 11/1/2051
3,286
1,918
2.94%, 11/1/2056
1,729
970
2.99%, 11/1/2063
259
139
Orange SA (France) 5.00%, 1/13/2036(b)
4,100
4,025
Telefonica Emisiones SA (Spain) 7.05%, 6/20/2036
40
44
Verizon Communications, Inc. 3.40%, 3/22/2041
1,060
824
 
19,171
Electric Utilities — 2.3%
AEP Texas, Inc. Series H, 3.45%, 1/15/2050
95
65
Alabama Power Co. 6.13%, 5/15/2038
250
268
Appalachian Power Recovery Funding LLC Series A-3, 5.84%, 4/1/2046
1,920
1,944
Arizona Public Service Co. 5.05%, 9/1/2041
200
186
Baltimore Gas and Electric Co.
3.50%, 8/15/2046
395
287
2.90%, 6/15/2050
475
299
5.40%, 6/1/2053
65
62
CenterPoint Energy Houston Electric LLC 3.95%, 3/1/2048
15
12
DTE Electric Co. Series B, 3.25%, 4/1/2051
2,000
1,345
Duke Energy Carolinas LLC 4.25%, 12/15/2041
129
112
Duke Energy Corp.
2.55%, 6/15/2031
105
95
3.75%, 9/1/2046
985
738
6.10%, 9/15/2053
1,360
1,380
5.70%, 9/15/2055
1,260
1,209
Duke Energy Florida LLC 5.95%, 11/15/2052
1,414
1,445
Duke Energy Indiana LLC 3.75%, 5/15/2046
30
23
Duke Energy Progress LLC
4.10%, 5/15/2042
273
230
4.10%, 3/15/2043
125
104
2.90%, 8/15/2051
820
510
Duquesne Light Holdings, Inc.
3.62%, 8/1/2027(b)
750
742
2.78%, 1/7/2032(b)
85
75
Edison International
5.00%, 5/5/2028
605
606
5.45%, 6/15/2029
1,830
1,844

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Electric Utilities — continued
6.95%, 11/15/2029
1,020
1,071
Electricite de France SA (France) 5.95%, 4/22/2034(b)
1,025
1,073
Emera US Finance LP (Canada)
3.55%, 6/15/2026
145
145
2.64%, 6/15/2031
2,501
2,245
4.75%, 6/15/2046
2,900
2,459
ENEL Finance International NV (Italy)
5.13%, 6/26/2029(b)
770
779
5.50%, 6/26/2034(b)
1,160
1,178
5.00%, 9/30/2035(b)
1,155
1,126
Entergy Arkansas LLC 2.65%, 6/15/2051
415
244
Entergy Corp. 2.95%, 9/1/2026
346
345
Entergy Louisiana LLC
3.05%, 6/1/2031
629
584
2.90%, 3/15/2051
490
307
5.80%, 3/15/2055
1,040
1,037
Entergy Mississippi LLC 5.85%, 6/1/2054
635
633
Entergy Texas, Inc.
4.00%, 3/30/2029
85
84
5.80%, 9/1/2053
450
447
Evergy Kansas Central, Inc. 5.25%, 3/15/2035
120
121
Evergy Metro, Inc.
5.40%, 4/1/2034
461
473
5.30%, 10/1/2041
35
34
Evergy Missouri West Storm Funding I LLC Series A-1, 5.10%, 12/1/2038
1,503
1,512
Evergy, Inc. 2.90%, 9/15/2029
524
497
Exelon Corp. 5.30%, 3/15/2033
1,000
1,024
Fells Point Funding Trust 3.05%, 1/31/2027(b)
2,405
2,384
FirstEnergy Pennsylvania Electric Co.
3.25%, 3/15/2028(b)
158
154
3.60%, 6/1/2029(b)
60
58
FirstEnergy Transmission LLC 4.55%, 4/1/2049(b)
240
202
Florida Power & Light Co. 5.40%, 9/1/2035
10
10
Fortis, Inc. (Canada) 3.06%, 10/4/2026
371
370
Georgia Power Co. 5.13%, 5/15/2052
75
69
Interstate Power and Light Co.
4.95%, 9/30/2034
480
475
5.45%, 9/30/2054
765
721
ITC Holdings Corp.
4.95%, 9/22/2027(b)
1,565
1,573
2.95%, 5/14/2030(b)
505
471
5.50%, 4/15/2036(b)
660
667
5.30%, 7/1/2043
940
869
Jersey Central Power & Light Co.
5.10%, 1/15/2035
460
459
6.15%, 6/1/2037
10
11
Massachusetts Electric Co. 5.90%, 11/15/2039(b)
15
15

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Electric Utilities — continued
MidAmerican Energy Co. 5.85%, 9/15/2054
620
629
Mid-Atlantic Interstate Transmission LLC 4.10%, 5/15/2028(b)
10
10
Monongahela Power Co. 5.85%, 2/15/2034(b)
420
440
Nevada Power Co.
Series N, 6.65%, 4/1/2036
100
110
5.38%, 9/15/2040
26
25
5.45%, 5/15/2041
305
300
6.00%, 3/15/2054
560
567
New England Power Co. 3.80%, 12/5/2047(b)
11
8
NextEra Energy Capital Holdings, Inc.
3.55%, 5/1/2027
13
13
2.25%, 6/1/2030
30
27
5.55%, 3/15/2054
2,400
2,273
Niagara Mohawk Power Corp.
1.96%, 6/27/2030(b)
1,000
899
5.66%, 1/17/2054(b)
460
436
6.00%, 7/3/2055(b)
470
467
NRG Energy, Inc.
2.45%, 12/2/2027(b)
795
770
4.45%, 6/15/2029(b)
615
606
5.41%, 10/15/2035(b)
2,500
2,455
Oncor Electric Delivery Co. LLC 5.75%, 3/15/2029
110
113
Pacific Gas and Electric Co.
6.40%, 6/15/2033
1,011
1,076
5.80%, 5/15/2034
2,280
2,334
5.70%, 3/1/2035
8,045
8,152
6.00%, 8/15/2035
3,090
3,188
4.20%, 6/1/2041
695
571
3.75%, 8/15/2042(g)
308
232
4.30%, 3/15/2045
525
413
6.75%, 1/15/2053
70
74
5.90%, 10/1/2054
260
246
PECO Energy Co. 2.80%, 6/15/2050
410
254
Pepco Holdings LLC 7.45%, 8/15/2032
316
352
PG&E Recovery Funding LLC
Series A-2, 5.23%, 6/1/2042
1,510
1,500
Series A-3, 5.54%, 7/15/2047
1,360
1,338
Series A-3, 5.53%, 6/1/2049
1,345
1,328
PG&E Wildfire Recovery Funding LLC
Series A-2, 4.26%, 6/1/2036
640
615
Series A-4, 5.21%, 12/1/2047
420
396
Series A-5, 5.10%, 6/1/2052
795
729
PNM Energy Transition Bond Co. I LLC Series A-2, 6.03%, 8/15/2048
2,605
2,709
Potomac Electric Power Co. 6.50%, 11/15/2037
1,085
1,195
PPL Capital Funding, Inc. 5.25%, 9/1/2034
765
769
PPL Electric Utilities Corp. 5.25%, 5/15/2053
890
833
Progress Energy, Inc. 7.00%, 10/30/2031
300
331

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Electric Utilities — continued
Public Service Co. of Colorado 3.55%, 6/15/2046
214
155
Public Service Co. of Oklahoma
5.25%, 1/15/2033
970
985
5.20%, 1/15/2035
343
343
Series G, 6.63%, 11/15/2037
2,490
2,676
Series K, 3.15%, 8/15/2051
25
16
Public Service Electric and Gas Co.
5.38%, 11/1/2039
317
318
3.00%, 3/1/2051
1,925
1,250
SCE Recovery Funding LLC
Series A-1, 4.70%, 6/15/2040
1,055
1,026
5.34%, 3/15/2045
1,480
1,463
Series A-2, 5.11%, 12/15/2047
505
470
Sierra Pacific Power Co. 5.90%, 3/15/2054
1,030
1,032
Sigeco Securitization I LLC
Series A1, 5.03%, 11/15/2036
766
770
Series A2, 5.17%, 5/15/2041
107
103
Southern California Edison Co.
5.85%, 11/1/2027
1,695
1,723
Series B, 3.65%, 3/1/2028
400
393
Series 05-B, 5.55%, 1/15/2036
10
10
Series 08-A, 5.95%, 2/1/2038
200
203
4.05%, 3/15/2042
567
449
5.75%, 4/15/2054
1,755
1,627
5.90%, 3/1/2055
415
395
Southern Co. (The) 5.70%, 3/15/2034
1,825
1,894
Southwestern Public Service Co. 4.50%, 8/15/2041
200
177
Toledo Edison Co. (The) 6.15%, 5/15/2037
300
322
Virginia Electric and Power Co. 5.70%, 8/15/2053
2,120
2,091
Vistra Operations Co. LLC
4.38%, 5/1/2029(b)
2,000
1,961
6.00%, 4/15/2034(b)
221
228
5.70%, 12/30/2034(b)
610
617
5.25%, 10/15/2035(b)
3,360
3,265
5.35%, 1/31/2036(b)
1,265
1,237
Wisconsin Public Service Corp. 3.30%, 9/1/2049
50
34
 
105,523
Electrical Equipment — 0.1%
Eaton Corp. 4.80%, 3/6/2036
3,015
2,966
Electronic Equipment, Instruments & Components — 0.1%
Amphenol Corp. 5.30%, 11/15/2055
2,030
1,921
Corning, Inc. 3.90%, 11/15/2049
1,043
795
nVent Finance SARL (United Kingdom) 4.55%, 4/15/2028
465
464
 
3,180
Energy Equipment & Services — 0.1%
Baker Hughes Holdings LLC 5.00%, 6/15/2036
2,170
2,137

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Energy Equipment & Services — continued
Halliburton Co. 4.75%, 8/1/2043
540
481
NOV, Inc. 3.60%, 12/1/2029
155
150
Schlumberger Holdings Corp.
3.90%, 5/17/2028(b)
20
20
4.30%, 5/1/2029(b)
35
35
 
2,823
Financial Services — 1.1%
BCAP LLC Trust 0.00%, 9/17/2027
6,762
6,762
BG Beta I Ltd. (Cayman Islands) 0.00%, 7/16/2054‡ (f)
3,940
3,897
CFIN 2022-RTL1 Issuer LLC Class A, 0.00%, 8/17/2027
9,994
9,981
Corebridge Financial, Inc.
3.65%, 4/5/2027
770
766
3.85%, 4/5/2029
545
533
Fidelity National Information Services, Inc.
4.80%, 3/10/2031
1,441
1,430
3.10%, 3/1/2041
50
37
Fiserv, Inc.
3.20%, 7/1/2026
395
395
2.65%, 6/1/2030
125
115
5.15%, 8/12/2034
3,200
3,119
4.40%, 7/1/2049
375
288
Global Payments, Inc.
3.20%, 8/15/2029
945
894
5.30%, 8/15/2029
371
374
2.90%, 5/15/2030
273
251
2.90%, 11/15/2031
647
572
5.20%, 11/15/2032
3,135
3,077
5.40%, 3/15/2033
2,072
2,044
5.55%, 11/15/2035
1,560
1,522
Goodleap LLC Class A, 0.00%, 7/15/2038
13,004
13,329
Jackson Financial, Inc. 4.00%, 11/23/2051
85
59
Nationwide Building Society (United Kingdom) (SOFR + 1.29%), 2.97%, 2/16/2028(b) (c)
200
198
Siemens Financieringsmaatschappij NV (Germany) 4.40%, 5/27/2045(b)
513
445
Street Capital Group, Inc. (Canada) 0.00%, 2/15/2030
3,451
3,451
 
53,539
Food Products — 0.5%
Bimbo Bakeries USA, Inc. (Mexico)
6.05%, 1/15/2029(b)
200
206
5.38%, 1/9/2036(b)
200
199
Bunge Ltd. Finance Corp.
3.20%, 4/21/2031
1,500
1,401
2.75%, 5/14/2031
1,725
1,577
4.65%, 9/17/2034
1,410
1,368
5.15%, 8/4/2035
1,300
1,299
JBS NV
3.75%, 12/1/2031
1,305
1,216

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Food Products — continued
6.75%, 3/15/2034
125
136
5.95%, 4/20/2035
545
562
5.50%, 1/15/2036
1,725
1,721
5.63%, 3/10/2037(b)
420
419
6.50%, 12/1/2052
1,240
1,253
6.38%, 2/25/2055
1,345
1,343
6.38%, 4/15/2066
1,840
1,798
Kraft Heinz Foods Co.
5.00%, 7/15/2035
2,000
1,951
4.63%, 10/1/2039
850
758
4.38%, 6/1/2046
665
534
4.88%, 10/1/2049
2,080
1,738
Mars, Inc.
5.20%, 3/1/2035(b)
90
91
5.65%, 5/1/2045(b)
2,335
2,315
Tyson Foods, Inc. 5.70%, 3/15/2034
920
953
 
22,838
Gas Utilities — 0.1%
Atmos Energy Corp.
4.15%, 1/15/2043
828
703
4.13%, 10/15/2044
140
117
Boston Gas Co. 4.49%, 2/15/2042(b)
308
262
Brooklyn Union Gas Co. (The) 4.27%, 3/15/2048(b)
460
359
ONE Gas, Inc. 2.00%, 5/15/2030
15
14
Southern California Gas Co.
Series VV, 4.30%, 1/15/2049
65
52
6.35%, 11/15/2052
1,370
1,455
Southwest Gas Corp. 3.80%, 9/29/2046
9
7
 
2,969
Ground Transportation — 0.1%
Burlington Northern Santa Fe LLC
7.29%, 6/1/2036
25
30
5.40%, 6/1/2041
70
70
4.38%, 9/1/2042
375
330
3.55%, 2/15/2050
465
337
Canadian Pacific Railway Co. (Canada) 4.70%, 5/1/2048
712
623
CSX Corp.
4.10%, 3/15/2044
190
158
4.30%, 3/1/2048
105
87
3.35%, 9/15/2049
95
67
Norfolk Southern Corp.
2.90%, 8/25/2051
40
25
4.05%, 8/15/2052
730
563
Uber Technologies, Inc.
4.80%, 9/15/2034
720
705

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Ground Transportation — continued
5.35%, 9/15/2054
240
223
Union Pacific Corp. 4.10%, 9/15/2067
10
7
 
3,225
Health Care Equipment & Supplies — 0.1%
Abbott Laboratories 4.75%, 11/30/2036
380
371
Solventum Corp. 5.60%, 3/23/2034
3,190
3,272
 
3,643
Health Care Providers & Services — 1.0%
Aetna, Inc. 6.75%, 12/15/2037
475
519
Ascension Health Series B, 2.53%, 11/15/2029
430
403
Beth Israel Lahey Health, Inc. Series L, 3.08%, 7/1/2051
35
23
Cardinal Health, Inc.
5.35%, 11/15/2034
75
76
5.15%, 9/15/2035
2,780
2,770
Cencora, Inc.
2.70%, 3/15/2031
150
137
4.60%, 2/13/2033
3,000
2,944
5.13%, 2/15/2034
1,650
1,658
Children's Hospital Series 2020, 2.93%, 7/15/2050
650
413
Children's Hospital Corp. (The) Series 2020, 2.59%, 2/1/2050
580
350
Cigna Group (The)
5.13%, 5/15/2031
1,080
1,101
5.25%, 1/15/2036
1,428
1,433
3.20%, 3/15/2040
1,684
1,316
3.40%, 3/15/2051
50
34
CommonSpirit Health
2.78%, 10/1/2030
550
507
3.91%, 10/1/2050
545
404
CVS Health Corp.
4.30%, 3/25/2028
171
171
5.25%, 2/21/2033
1,400
1,423
4.78%, 3/25/2038
108
101
CVS Pass-Through Trust Series 2013, 4.70%, 1/10/2036(b)
453
423
Elevance Health, Inc.
4.63%, 5/15/2042
500
444
4.65%, 1/15/2043
535
472
4.65%, 8/15/2044
100
87
Hackensack Meridian Health, Inc. Series 2020, 2.68%, 9/1/2041
1,430
1,018
HCA, Inc.
3.63%, 3/15/2032
651
606
5.60%, 4/1/2034
1,175
1,203
5.75%, 3/1/2035
1,259
1,296
4.90%, 11/15/2035
1,880
1,820
5.30%, 5/15/2036
5,000
4,944
5.13%, 6/15/2039
725
688
5.50%, 6/15/2047
650
603

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Health Care Providers & Services — continued
3.50%, 7/15/2051
589
394
4.63%, 3/15/2052
1,385
1,115
5.95%, 9/15/2054
600
583
6.10%, 4/1/2064
1,075
1,061
Mayo Clinic Series 2016, 4.13%, 11/15/2052
225
179
Memorial Health Services 3.45%, 11/1/2049
1,340
940
Memorial Sloan-Kettering Cancer Center Series 2015, 4.20%, 7/1/2055
200
159
MyMichigan Health Series 2020, 3.41%, 6/1/2050
310
216
Quest Diagnostics, Inc.
2.95%, 6/30/2030
25
23
2.80%, 6/30/2031
60
55
Texas Health Resources 4.33%, 11/15/2055
300
247
Triad Holdings III LLC 0.00%, 4/1/2052
7,939
8,018
UnitedHealth Group, Inc.
3.50%, 8/15/2039
815
670
3.25%, 5/15/2051
560
376
5.88%, 2/15/2053
650
653
Yale-New Haven Health Services Corp. Series 2020, 2.50%, 7/1/2050
780
456
 
44,532
Health Care REITs — 0.1%
Alexandria Real Estate Equities, Inc.
2.75%, 12/15/2029
60
56
2.00%, 5/18/2032
980
825
1.88%, 2/1/2033
130
106
DOC DR LLC
3.95%, 1/15/2028
55
54
2.63%, 11/1/2031
505
450
Healthpeak OP LLC 3.50%, 7/15/2029
772
746
Ventas Realty LP
3.25%, 10/15/2026
299
298
3.85%, 4/1/2027
560
558
2.50%, 9/1/2031
120
107
Welltower OP LLC
2.80%, 6/1/2031
110
101
6.50%, 3/15/2041
350
388
 
3,689
Hotels, Restaurants & Leisure — 0.0% ^
McDonald's Corp.
6.30%, 10/15/2037
8
9
5.15%, 9/9/2052
65
59
5.45%, 8/14/2053
1,060
1,013
Starbucks Corp. 4.90%, 2/15/2031
1,000
1,011
 
2,092
Independent Power and Renewable Electricity Producers — 0.1%
AES Corp. (The) 5.80%, 3/15/2032
1,620
1,646
Alexander Funding Trust II 7.47%, 7/31/2028(b)
1,280
1,344

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Independent Power and Renewable Electricity Producers — continued
Constellation Energy Generation LLC
5.80%, 3/1/2033
280
294
5.75%, 10/1/2041
235
236
5.60%, 6/15/2042
150
148
6.50%, 10/1/2053
1,190
1,275
Southern Power Co. 5.15%, 9/15/2041
15
14
 
4,957
Industrial REITs — 0.0% ^
Goodman US Finance Eight LLC (Australia) 5.88%, 4/28/2046(b)
570
562
Prologis LP
2.88%, 11/15/2029
380
361
3.00%, 4/15/2050
905
597
 
1,520
Insurance — 0.4%
AIA Group Ltd. (Hong Kong) 3.20%, 9/16/2040(b)
520
400
AIG SunAmerica Global Financing X 6.90%, 3/15/2032(b)
520
563
Aon Corp.
5.35%, 2/28/2033
65
66
2.90%, 8/23/2051
140
86
Aon North America, Inc.
5.45%, 3/1/2034
1,990
2,033
5.75%, 3/1/2054
590
577
Athene Global Funding
2.95%, 11/12/2026(b)
3,475
3,453
5.32%, 11/13/2031(b)
115
115
Berkshire Hathaway Finance Corp.
4.30%, 5/15/2043
100
88
3.85%, 3/15/2052
845
644
CNO Global Funding 4.95%, 9/9/2029(b)
1,400
1,404
Corebridge Global Funding
5.20%, 6/24/2029(b)
1,290
1,307
4.90%, 8/21/2032(b)
95
94
F&G Annuities & Life, Inc.
7.40%, 1/13/2028
563
579
6.50%, 6/4/2029
1,525
1,550
F&G Global Funding 1.75%, 6/30/2026(b)
750
748
Great-West Lifeco Finance Delaware LP (Canada) 4.15%, 6/3/2047(b)
20
16
Guardian Life Insurance Co. of America (The) 4.85%, 1/24/2077(b)
208
169
Hanover Insurance Group, Inc. (The) 2.50%, 9/1/2030
500
454
Hartford Insurance Group, Inc. (The) 4.30%, 4/15/2043
420
355
Liberty Mutual Insurance Co. 7.88%, 10/15/2026(b)
15
15
Manulife Financial Corp. (Canada) (USD ICE Swap Rate 5 Year + 1.65%), 4.06%, 2/24/2032(c)
30
30
Markel Group, Inc. 5.00%, 5/20/2049
20
18
MetLife, Inc. 5.00%, 7/15/2052
30
27
Pacific Life Insurance Co. (3-MONTH SOFR + 2.80%), 4.30%, 10/24/2067(b) (c)
266
211
Principal Financial Group, Inc. 4.11%, 2/15/2028(b)
838
831

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Insurance — continued
Principal Life Global Funding II 5.10%, 1/25/2029(b)
800
810
Prudential Financial, Inc. 3.91%, 12/7/2047
300
230
Swiss Re Finance Luxembourg SA (Switzerland) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.58%),
5.00%, 4/2/2049(b) (c)
200
200
Teachers Insurance & Annuity Association of America
4.90%, 9/15/2044(b)
10
9
4.27%, 5/15/2047(b)
415
335
 
17,417
Interactive Media & Services — 0.4%
Alphabet, Inc.
5.50%, 2/15/2046
1,435
1,421
5.65%, 2/15/2056
2,110
2,098
5.75%, 2/15/2066
1,295
1,285
Meta Platforms, Inc.
4.88%, 11/15/2035
2,960
2,892
5.25%, 5/15/2036
2,665
2,663
5.50%, 11/15/2045
2,950
2,769
5.60%, 5/15/2053
1,350
1,250
5.40%, 8/15/2054
875
783
5.63%, 11/15/2055
1,775
1,637
6.30%, 5/15/2056
2,900
2,926
 
19,724
IT Services — 0.1%
Accenture Capital, Inc. 4.50%, 10/4/2034
510
493
CGI, Inc. (Canada)
1.45%, 9/14/2026
843
836
2.30%, 9/14/2031
1,515
1,319
 
2,648
Life Sciences Tools & Services — 0.1%
Thermo Fisher Scientific, Inc. 4.90%, 2/12/2036
2,485
2,454
Machinery — 0.0% ^
Parker-Hannifin Corp.
4.45%, 11/21/2044
592
519
4.10%, 3/1/2047
8
7
 
526
Media — 0.2%
Charter Communications Operating LLC
6.38%, 10/23/2035
528
531
4.80%, 3/1/2050
1,475
1,094
3.70%, 4/1/2051
3,220
1,986
Cox Communications, Inc. 2.95%, 10/1/2050(b)
635
340
Time Warner Cable Enterprises LLC 8.38%, 7/15/2033
735
826
Time Warner Cable LLC
6.55%, 5/1/2037
400
400

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Media — continued
5.88%, 11/15/2040
2,720
2,446
5.50%, 9/1/2041
934
806
 
8,429
Metals & Mining — 0.2%
Anglo American Capital plc (South Africa)
5.75%, 4/5/2034(b)
2,635
2,721
5.25%, 3/19/2036(b)
380
377
Corp. Nacional del Cobre de Chile (Chile) 6.44%, 1/26/2036(b)
917
975
Glencore Funding LLC (Australia)
2.63%, 9/23/2031(b)
40
36
5.63%, 4/4/2034(b)
1,080
1,113
5.51%, 4/1/2036(b)
3,460
3,495
Nucor Corp. 2.98%, 12/15/2055
20
12
Rio Tinto Finance USA plc (Australia) 4.88%, 3/14/2030
157
159
Vale Overseas Ltd. (Brazil) 3.75%, 7/8/2030
675
644
 
9,532
Mortgage Real Estate Investment Trusts (REITs) — 0.1%
Resurgent 0.00%, 7/1/2030
3,000
3,000
Multi-Utilities — 0.3%
Ameren Corp. 3.50%, 1/15/2031
125
119
Ameren Illinois Co. 5.55%, 7/1/2054
1,650
1,602
CenterPoint Energy, Inc. 2.95%, 3/1/2030
40
38
Consolidated Edison Co. of New York, Inc.
Series 12-A, 4.20%, 3/15/2042
9
8
3.20%, 12/1/2051
1,090
724
Delmarva Power & Light Co. 4.00%, 6/1/2042
235
192
Dominion Energy, Inc. Series F, 5.25%, 8/1/2033
940
954
New York State Electric & Gas Corp. 3.25%, 12/1/2026(b)
11
11
NiSource, Inc. 1.70%, 2/15/2031
765
668
PG&E Energy Recovery Funding LLC Series A-3, 2.82%, 7/15/2046
50
37
Public Service Enterprise Group, Inc. 1.60%, 8/15/2030
40
35
Puget Energy, Inc.
2.38%, 6/15/2028
20
19
5.73%, 3/15/2035
715
720
San Diego Gas & Electric Co.
3.95%, 11/15/2041
379
312
2.95%, 8/15/2051
1,050
666
5.35%, 4/1/2053
75
70
Series EEEE, 5.95%, 3/15/2056
760
769
Sempra 5.25%, 3/15/2036
2,500
2,471
Southern Co. Gas Capital Corp.
3.25%, 6/15/2026
254
254
5.75%, 9/15/2033
760
792
Series B, 5.10%, 9/15/2035
975
967
5.88%, 3/15/2041
11
11
4.40%, 6/1/2043
23
19

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Multi-Utilities — continued
3.95%, 10/1/2046
9
7
Series 21A, 3.15%, 9/30/2051
420
276
WEC Energy Group, Inc. 5.60%, 9/12/2026
28
28
 
11,769
Office REITs — 0.0% ^
COPT Defense Properties LP 2.00%, 1/15/2029
335
314
Oil, Gas & Consumable Fuels — 1.2%
Aker BP ASA (Norway)
5.13%, 10/1/2034(b)
660
650
5.80%, 10/1/2054(b)
360
339
BP Capital Markets America, Inc.
4.81%, 2/13/2033
210
210
2.94%, 6/4/2051
1,995
1,270
Cameron LNG LLC 3.70%, 1/15/2039(b)
961
815
Cheniere Energy Partners LP 5.55%, 10/30/2035
780
796
Cheniere Energy, Inc.
5.65%, 4/15/2034
690
711
5.20%, 7/30/2036(b)
1,955
1,926
6.00%, 7/30/2056(b)
1,000
998
Columbia Pipelines Holding Co. LLC 5.10%, 10/1/2031(b)
481
484
Columbia Pipelines Operating Co. LLC
5.44%, 2/15/2035(b)
3,565
3,618
5.96%, 2/15/2055(b)
2,415
2,387
ConocoPhillips Co.
5.05%, 9/15/2033
95
97
5.50%, 1/15/2055
1,500
1,444
Coterra Energy, Inc.
3.90%, 5/15/2027
935
932
5.60%, 3/15/2034
75
77
5.40%, 2/15/2035
1,250
1,267
Devon Energy Corp. 5.75%, 9/15/2054
558
540
DT Midstream, Inc. 4.30%, 4/15/2032(b)
900
862
Eastern Energy Gas Holdings LLC 6.20%, 1/15/2055
760
778
Eastern Gas Transmission & Storage, Inc. 3.90%, 11/15/2049
807
593
Enbridge, Inc. (Canada)
5.70%, 3/8/2033
1,090
1,133
5.63%, 4/5/2034
1,350
1,399
5.45%, 3/27/2036
2,000
2,027
4.50%, 6/10/2044
110
93
Energy Transfer LP
4.95%, 5/15/2028
80
81
5.25%, 7/1/2029
1,450
1,477
4.15%, 9/15/2029
1,006
992
5.35%, 1/15/2036
997
995
6.05%, 6/1/2041
30
31
6.10%, 2/15/2042
420
420

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Oil, Gas & Consumable Fuels — continued
5.30%, 4/1/2044
170
155
6.00%, 6/15/2048
775
755
6.25%, 4/15/2049
800
802
Eni SpA (Italy)
5.70%, 10/1/2040(b)
925
910
6.00%, 5/18/2056(b)
2,950
2,943
Eni USA, Inc. (Italy) 7.30%, 11/15/2027
15
16
Enterprise Products Operating LLC
5.10%, 2/15/2045
100
94
4.95%, 10/15/2054
6
5
EOG Resources, Inc. 5.35%, 1/15/2036
80
81
Exxon Mobil Corp.
3.00%, 8/16/2039
1,015
808
3.57%, 3/6/2045
1,215
947
4.11%, 3/1/2046
15
12
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates) 2.94%, 9/30/2040(b)
934
771
Kinder Morgan, Inc.
7.80%, 8/1/2031
1,151
1,311
5.05%, 2/15/2046
1,910
1,730
3.25%, 8/1/2050
20
13
Marathon Petroleum Corp. 4.75%, 9/15/2044
65
57
MPLX LP
4.50%, 4/15/2038
8
7
4.95%, 3/14/2052
520
442
Northern Natural Gas Co. 5.63%, 2/1/2054(b)
240
229
Occidental Petroleum Corp. 4.30%, 8/15/2039
352
304
ONEOK Partners LP 6.65%, 10/1/2036
370
403
ONEOK, Inc.
4.75%, 10/15/2031
2,125
2,112
5.20%, 7/15/2048
30
27
Pioneer Natural Resources Co.
1.90%, 8/15/2030
1,050
948
2.15%, 1/15/2031
4,300
3,872
Plains All American Pipeline LP 4.70%, 1/15/2031
630
627
Shell Finance US, Inc. 3.13%, 11/7/2049(b)
60
40
South Bow USA Infrastructure Holdings LLC (Canada)
4.91%, 9/1/2027
375
376
5.03%, 10/1/2029
430
433
Suncor Energy, Inc. (Canada) 6.80%, 5/15/2038
677
743
Targa Resources Corp. 4.90%, 9/15/2030
2,388
2,404
TC PipeLines LP 3.90%, 5/25/2027
7
7
TotalEnergies Capital International SA (France)
3.46%, 2/19/2029
40
39
2.99%, 6/29/2041
1,200
899
3.46%, 7/12/2049
815
586
3.13%, 5/29/2050
1,180
795

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Oil, Gas & Consumable Fuels — continued
Valero Energy Corp.
7.50%, 4/15/2032
10
11
3.65%, 12/1/2051
115
80
Western Midstream Operating LP 5.25%, 2/1/2050(g)
415
362
 
56,598
Passenger Airlines — 0.0% ^
United Airlines Pass-Through Trust Series 2016-2, Class A, 3.10%, 10/7/2028
775
741
Pharmaceuticals — 0.2%
AstraZeneca plc (United Kingdom)
6.45%, 9/15/2037
300
335
4.00%, 9/18/2042
240
204
Bristol-Myers Squibb Co.
5.90%, 11/15/2033
35
37
4.25%, 10/26/2049
1,004
815
3.70%, 3/15/2052
1,015
741
5.55%, 2/22/2054
1,160
1,130
Eli Lilly & Co.
5.00%, 2/9/2054
960
886
5.70%, 5/20/2066
1,120
1,125
Merck & Co., Inc.
4.00%, 3/7/2049
860
682
2.90%, 12/10/2061
965
558
Novartis Capital Corp. 5.70%, 3/18/2056
640
649
Pfizer Investment Enterprises Pte. Ltd. 5.34%, 5/19/2063
1,935
1,784
Shire Acquisitions Investments Ireland DAC 3.20%, 9/23/2026
5
5
Takeda Pharmaceutical Co. Ltd. (Japan)
5.65%, 7/5/2044
422
419
3.18%, 7/9/2050
1,486
986
 
10,356
Residential REITs — 0.1%
ERP Operating LP 4.95%, 6/15/2032
101
102
Essex Portfolio LP 2.65%, 3/15/2032
2,000
1,774
Mid-America Apartments LP
3.95%, 3/15/2029
920
907
1.70%, 2/15/2031
30
26
4.65%, 1/15/2033
790
780
UDR, Inc.
2.95%, 9/1/2026
388
387
3.00%, 8/15/2031
305
280
2.10%, 8/1/2032
710
604
3.10%, 11/1/2034
30
26
 
4,886
Retail REITs — 0.1%
Brixmor Operating Partnership LP
2.25%, 4/1/2028
840
807

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Retail REITs — continued
2.50%, 8/16/2031
470
420
Kimco Realty OP LLC 1.90%, 3/1/2028
160
154
NNN REIT, Inc.
3.60%, 12/15/2026
16
16
4.30%, 10/15/2028
620
617
5.60%, 10/15/2033
600
618
5.50%, 6/15/2034
170
173
Realty Income Corp.
3.25%, 1/15/2031
35
33
4.65%, 3/15/2047
8
7
 
2,845
Semiconductors & Semiconductor Equipment — 0.5%
Broadcom, Inc.
1.95%, 2/15/2028
2,500
2,407
4.75%, 4/15/2029
25
25
5.05%, 7/12/2029
2,650
2,696
4.55%, 2/15/2032
1,904
1,885
3.14%, 11/15/2035(b)
1,413
1,204
4.80%, 2/15/2036
241
235
3.50%, 2/15/2041
3,950
3,159
Foundry JV Holdco LLC
6.10%, 1/25/2036(b)
699
735
6.20%, 1/25/2037(b)
990
1,044
Intel Corp.
3.73%, 12/8/2047
580
420
3.25%, 11/15/2049
1,390
913
5.70%, 2/10/2053
590
561
KLA Corp.
3.30%, 3/1/2050
600
416
4.95%, 7/15/2052
135
123
Marvell Technology, Inc.
5.75%, 2/15/2029
1,360
1,399
2.95%, 4/15/2031
1,405
1,295
5.45%, 7/15/2035
4,818
4,930
NXP BV (Netherlands)
4.40%, 6/1/2027
25
25
3.25%, 5/11/2041
1,445
1,095
3.25%, 11/30/2051
682
445
 
25,012
Software — 0.4%
Cadence Design Systems, Inc. 4.30%, 9/10/2029
10
10
Microsoft Corp. 2.92%, 3/17/2052
26
17
Oracle Corp.
4.80%, 9/26/2032
2,120
2,037
4.90%, 2/6/2033
1,300
1,250
4.30%, 7/8/2034
10
9

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Software — continued
3.90%, 5/15/2035
8
7
5.70%, 2/4/2036
1,830
1,798
3.85%, 7/15/2036
12
10
3.80%, 11/15/2037
20
16
3.60%, 4/1/2040
1,000
742
5.88%, 9/26/2045
1,425
1,274
6.55%, 2/4/2046
700
675
3.60%, 4/1/2050
355
222
3.95%, 3/25/2051
700
460
4.38%, 5/15/2055
4,900
3,359
6.70%, 2/4/2056
2,825
2,721
6.85%, 2/4/2066
1,595
1,528
Roper Technologies, Inc.
3.80%, 12/15/2026
7
7
2.00%, 6/30/2030
25
22
4.90%, 10/15/2034
1,940
1,874
Synopsys, Inc.
5.15%, 4/1/2035
158
158
5.70%, 4/1/2055
1,415
1,380
VMware LLC
1.80%, 8/15/2028
30
28
2.20%, 8/15/2031
160
141
 
19,745
Specialized REITs — 0.2%
American Tower Corp.
3.38%, 10/15/2026
312
311
3.80%, 8/15/2029
90
88
2.10%, 6/15/2030
630
571
1.88%, 10/15/2030
1,090
969
4.70%, 12/15/2032
1,235
1,219
3.10%, 6/15/2050
496
325
2.95%, 1/15/2051
324
204
Crown Castle, Inc.
1.05%, 7/15/2026
260
259
4.00%, 3/1/2027
264
263
2.10%, 4/1/2031
2,000
1,758
Equinix, Inc. 3.20%, 11/18/2029
65
62
Extra Space Storage LP
3.50%, 7/1/2026
50
50
3.90%, 4/1/2029
30
29
4.00%, 6/15/2029
869
854
2.40%, 10/15/2031
45
40
 
7,002
Specialty Retail — 0.0% ^
AutoZone, Inc.
1.65%, 1/15/2031
765
667

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Specialty Retail — continued
5.40%, 7/15/2034
760
772
Home Depot, Inc. (The) 4.25%, 4/1/2046
150
125
Lowe's Cos., Inc. 4.05%, 5/3/2047
130
102
O'Reilly Automotive, Inc.
3.60%, 9/1/2027
432
428
1.75%, 3/15/2031
55
48
 
2,142
Technology Hardware, Storage & Peripherals — 0.1%
Apple, Inc.
3.45%, 2/9/2045
20
15
3.85%, 8/4/2046
26
21
3.75%, 9/12/2047
50
39
4.10%, 8/8/2062
1,200
929
Dell International LLC
4.90%, 10/1/2026
1,265
1,266
5.25%, 2/1/2028
1,245
1,262
5.30%, 4/1/2032
3,215
3,284
3.45%, 12/15/2051
61
43
 
6,859
Tobacco — 0.1%
Altria Group, Inc. 2.45%, 2/4/2032
1,700
1,498
BAT Capital Corp. (United Kingdom)
4.39%, 8/15/2037
1,730
1,583
4.54%, 8/15/2047
14
11
Reynolds American, Inc. (United Kingdom)
7.00%, 8/4/2041
100
109
5.85%, 8/15/2045
180
177
 
3,378
Trading Companies & Distributors — 0.1%
Aviation Capital Group LLC
1.95%, 9/20/2026(b)
120
119
3.50%, 11/1/2027(b)
30
30
5.38%, 7/15/2029(b)
2,400
2,433
5.13%, 4/10/2030(b)
825
828
Sumisho Air Lease Corp. 1.88%, 8/15/2026
175
174
WW Grainger, Inc. 4.60%, 6/15/2045
7
6
 
3,590
Water Utilities — 0.0% ^
American Water Capital Corp. 3.45%, 5/1/2050
1,096
771
Wireless Telecommunication Services — 0.1%
T-Mobile USA, Inc.
3.88%, 4/15/2030
2,980
2,900
5.15%, 4/15/2034
230
232
4.50%, 4/15/2050
30
24
3.30%, 2/15/2051
125
83

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Corporate Bonds — continued
Wireless Telecommunication Services — continued
3.40%, 10/15/2052
1,525
1,015
3.60%, 11/15/2060
915
605
 
4,859
Total Corporate Bonds
(Cost $1,126,155)
1,096,845
Mortgage-Backed Securities — 19.1%
FHLMC
Pool # 846812, ARM, 5.86%, 4/1/2030(f)
Pool # 420195, ARM, 5.45%, 11/1/2030(f)
2
2
Pool # 789262, ARM, 6.30%, 12/1/2031(f)
3
3
Pool # 781087, ARM, 5.86%, 12/1/2033(f)
38
39
Pool # 1B1665, ARM, 5.94%, 4/1/2034(f)
35
36
Pool # 847356, ARM, 6.19%, 12/1/2034(f)
37
38
Pool # 782979, ARM, 5.87%, 1/1/2035(f)
49
51
Pool # 1Q0001, ARM, 6.44%, 1/1/2036(f)
1
1
Pool # 1Q0025, ARM, 6.08%, 2/1/2036(f)
15
16
Pool # 848431, ARM, 6.17%, 2/1/2036(f)
24
25
Pool # 1J1380, ARM, 6.84%, 3/1/2036(f)
Pool # 1L1286, ARM, 5.75%, 5/1/2036(f)
7
7
Pool # 1K1233, ARM, 6.24%, 5/1/2036(f)
1
2
Pool # 848365, ARM, 6.17%, 7/1/2036(f)
29
30
Pool # 1A1096, ARM, 5.78%, 10/1/2036(f)
63
64
Pool # 1G2539, ARM, 6.35%, 10/1/2036(f)
8
9
Pool # 1J1348, ARM, 6.69%, 10/1/2036(f)
31
32
Pool # 1G2671, ARM, 5.96%, 11/1/2036(f)
48
49
Pool # 782760, ARM, 6.29%, 11/1/2036(f)
29
30
Pool # 1G2552, ARM, 6.30%, 11/1/2036(f)
6
7
Pool # 1J1400, ARM, 6.50%, 11/1/2036(f)
1
2
Pool # 1J1634, ARM, 6.23%, 12/1/2036(f)
38
40
Pool # 1N0368, ARM, 6.49%, 1/1/2037(f)
3
3
Pool # 1J1516, ARM, 5.88%, 2/1/2037(f)
1
1
Pool # 1Q0196, ARM, 6.32%, 2/1/2037(f)
2
2
Pool # 1Q0739, ARM, 5.95%, 3/1/2037(f)
34
35
Pool # 1J1522, ARM, 6.31%, 3/1/2037(f)
5
6
Pool # 1H1390, ARM, 5.82%, 4/1/2037(f)
3
3
Pool # 1G1678, ARM, 5.90%, 4/1/2037(f)
1
1
Pool # 1J0336, ARM, 6.15%, 4/1/2037(f)
4
4
Pool # 1G3616, ARM, 6.12%, 5/1/2037(f)
1
1
Pool # 1J2919, ARM, 5.84%, 8/1/2037(f)
1
1
Pool # 847834, ARM, 6.60%, 12/1/2037(f)
1
2
Pool # 848699, ARM, 6.32%, 7/1/2040(f)
45
46
FHLMC Gold Pools, 20 Year
Pool # C91005, 6.00%, 12/1/2026
1
1
Pool # C91403, 3.50%, 3/1/2032
51
50
Pool # C91849, 3.50%, 9/1/2035
88
85

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
FHLMC Gold Pools, 30 Year
Pool # G00981, 8.50%, 7/1/2028
Pool # G04626, 6.00%, 5/1/2031
1
1
Pool # C68485, 7.00%, 7/1/2032
5
5
Pool # G01448, 7.00%, 8/1/2032
15
16
Pool # G60433, 4.50%, 9/1/2033
127
126
Pool # A13845, 5.50%, 9/1/2033
3
3
Pool # A13625, 5.50%, 10/1/2033
54
54
Pool # A16107, 6.00%, 12/1/2033
41
42
Pool # A16779, 6.50%, 12/1/2033
13
13
Pool # A17537, 6.00%, 1/1/2034
28
29
Pool # A61572, 5.00%, 9/1/2034
179
180
Pool # A28796, 6.50%, 11/1/2034
2
2
Pool # G03369, 6.50%, 1/1/2035
58
60
Pool # A46987, 5.50%, 7/1/2035
144
148
Pool # G01919, 4.00%, 9/1/2035
116
113
Pool # C02641, 7.00%, 10/1/2036
26
28
Pool # C02660, 6.50%, 11/1/2036
45
48
Pool # G04386, 7.50%, 2/1/2038
3
3
Pool # A93383, 5.00%, 8/1/2040
134
136
Pool # A93511, 5.00%, 8/1/2040
137
139
Pool # G06493, 4.50%, 5/1/2041
608
603
Pool # Z40179, 4.00%, 7/1/2048
1,498
1,420
FHLMC Gold Pools, Other
Pool # P20570, 7.00%, 7/1/2029
9
9
Pool # WN2258, 3.80%, 9/1/2029
397
389
Pool # G20027, 10.00%, 10/1/2030
1
1
Pool # U50105, 4.00%, 1/1/2032
185
182
Pool # N30129, 6.00%, 5/1/2032
Pool # WN2725, 4.10%, 7/1/2032
8,000
7,841
Pool # U80254, 3.00%, 3/1/2033
120
116
Pool # P20409, 5.50%, 10/1/2033
32
32
Pool # WN4013, 4.47%, 12/1/2033
1,225
1,212
Pool # WA2226, 2.86%, 6/1/2037
439
377
Pool # H09079, 5.50%, 6/1/2037
1
1
Pool # H09069, 6.50%, 9/1/2037
6
6
Pool # U90975, 4.00%, 6/1/2042
596
576
Pool # U90673, 4.00%, 1/1/2043
156
150
Pool # U91253, 4.00%, 4/1/2043
46
45
Pool # U91484, 4.00%, 5/1/2043
35
34
Pool # U99134, 4.00%, 1/1/2046
3,194
3,067
Pool # U69030, 4.50%, 1/1/2046
1,071
1,055
Pool # RE0006, 3.50%, 1/1/2050
1,924
1,714
FHLMC UMBS, 15 Year Pool # ZS8056, 4.00%, 7/1/2033
78
77
FHLMC UMBS, 20 Year
Pool # ZS9065, 4.00%, 6/1/2033
108
107
Pool # SC0104, 3.50%, 8/1/2035
850
824
Pool # ZA2434, 3.00%, 10/1/2036
180
170

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
FHLMC UMBS, 30 Year
Pool # QB4648, 2.50%, 10/1/2050
220
187
Pool # SD3301, 2.50%, 1/1/2051
2,657
2,272
Pool # RA5680, 2.00%, 8/1/2051
7,310
5,883
Pool # SD0781, 3.00%, 11/1/2051
4,515
3,968
Pool # RA6652, 2.50%, 1/1/2052
4,597
3,863
Pool # SD0923, 2.50%, 1/1/2052
887
756
Pool # SD1076, 3.00%, 1/1/2052
652
577
Pool # QD7332, 2.50%, 2/1/2052
235
199
Pool # RA6702, 3.00%, 2/1/2052
3,290
2,876
Pool # SD3952, 2.50%, 3/1/2052
4,529
3,878
Pool # SD2864, 3.00%, 3/1/2052
227
198
Pool # QE3414, 3.00%, 5/1/2052
3,709
3,268
Pool # SD3016, 3.00%, 6/1/2052
11,750
10,344
Pool # SD3781, 4.00%, 7/1/2052
2,932
2,759
Pool # QF0379, 5.00%, 8/1/2052
1,043
1,035
Pool # RJ1781, 6.00%, 6/1/2054
6,664
6,893
Pool # SL1998, 4.00%, 1/1/2055
6,501
6,117
FNMA
Pool # 54844, ARM, 4.17%, 9/1/2027(f)
1
1
Pool # 303532, ARM, 4.36%, 3/1/2029(f)
Pool # 555258, ARM, 5.65%, 1/1/2033(f)
98
99
Pool # 722985, ARM, 6.15%, 7/1/2033(f)
5
5
Pool # 746299, ARM, 6.64%, 9/1/2033(f)
32
33
Pool # 766610, ARM, 5.91%, 1/1/2034(f)
10
11
Pool # 920467, ARM, 7.00%, 2/1/2034(f)
51
53
Pool # 770377, ARM, 5.67%, 4/1/2034(f)
16
17
Pool # 751531, ARM, 5.83%, 5/1/2034(f)
43
44
Pool # 782306, ARM, 5.67%, 7/1/2034(f)
4
4
Pool # 735332, ARM, 5.81%, 8/1/2034(f)
43
44
Pool # 790235, ARM, 6.23%, 8/1/2034(f)
35
35
Pool # 791961, ARM, 5.31%, 9/1/2034(f)
11
11
Pool # 803599, ARM, 6.05%, 10/1/2034(f)
30
30
Pool # 803594, ARM, 6.09%, 10/1/2034(f)
43
44
Pool # 896463, ARM, 6.41%, 10/1/2034(f)
20
20
Pool # 806776, ARM, 5.67%, 11/1/2034(f)
38
39
Pool # 806778, ARM, 5.89%, 11/1/2034(f)
91
93
Pool # 810896, ARM, 5.62%, 1/1/2035(f)
71
74
Pool # 802692, ARM, 6.00%, 1/1/2035(f)
40
40
Pool # 816597, ARM, 5.67%, 2/1/2035(f)
9
9
Pool # 735539, ARM, 5.80%, 4/1/2035(f)
125
128
Pool # 745862, ARM, 5.92%, 4/1/2035(f)
23
24
Pool # 821378, ARM, 5.66%, 5/1/2035(f)
28
28
Pool # 823660, ARM, 5.84%, 5/1/2035(f)
18
18
Pool # 745766, ARM, 6.02%, 6/1/2035(f)
55
56
Pool # 843026, ARM, 5.54%, 9/1/2035(f)
35
36
Pool # 832801, ARM, 6.46%, 9/1/2035(f)
2
2
Pool # 849251, ARM, 5.80%, 1/1/2036(f)
25
26

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # 863729, ARM, 5.89%, 1/1/2036(f)
5
5
Pool # 877009, ARM, 6.86%, 3/1/2036(f)
2
2
Pool # 868952, ARM, 5.93%, 5/1/2036(f)
Pool # 895141, ARM, 5.82%, 7/1/2036(f)
34
35
Pool # 894452, ARM, 6.57%, 9/1/2036(f)
2
2
Pool # 900197, ARM, 6.78%, 10/1/2036(f)
30
31
Pool # 909377, ARM, 5.89%, 2/1/2037(f)
6
6
Pool # 995521, ARM, 5.94%, 5/1/2037(f)
2
2
Pool # 946362, ARM, 6.51%, 9/1/2037(f)
Pool # 995615, ARM, 6.19%, 10/1/2037(f)
1
1
Pool # 952182, ARM, 6.20%, 11/1/2037(f)
2
2
Pool # 889028, ARM, 4.85%, 1/1/2038(f)
2
2
FNMA UMBS, 20 Year
Pool # 256351, 6.00%, 8/1/2026
Pool # 256946, 6.50%, 10/1/2027
Pool # 256962, 6.00%, 11/1/2027
1
1
Pool # 257126, 6.00%, 3/1/2028
1
1
Pool # AD0329, 6.50%, 9/1/2028
Pool # MA1138, 3.50%, 8/1/2032
132
129
FNMA UMBS, 30 Year
Pool # 689977, 8.00%, 3/1/2027
1
1
Pool # 695533, 8.00%, 6/1/2027
1
1
Pool # 453258, 6.00%, 11/1/2028
4
4
Pool # 755973, 8.00%, 11/1/2028
14
14
Pool # 455759, 6.00%, 12/1/2028
2
2
Pool # 745630, 5.50%, 1/1/2029
2
3
Pool # 252211, 6.00%, 1/1/2029
2
2
Pool # 323994, 8.00%, 10/1/2029
2
2
Pool # 889020, 6.50%, 11/1/2029
33
34
Pool # 578569, 5.50%, 4/1/2031
1
1
Pool # 598559, 6.50%, 8/1/2031
10
11
Pool # 622542, 5.50%, 9/1/2031
48
49
Pool # 788150, 6.00%, 3/1/2032
5
5
Pool # 675555, 6.00%, 12/1/2032
9
10
Pool # AL0045, 6.00%, 12/1/2032
76
78
Pool # 689103, 5.50%, 2/1/2033
8
8
Pool # 674349, 6.00%, 3/1/2033
1
1
Pool # 688625, 6.00%, 3/1/2033
4
4
Pool # 695584, 6.00%, 3/1/2033
2
2
Pool # 702901, 6.00%, 5/1/2033
26
26
Pool # 723852, 5.00%, 7/1/2033
33
33
Pool # 729296, 5.00%, 7/1/2033
61
61
Pool # 729379, 6.00%, 8/1/2033
10
10
Pool # 737825, 6.00%, 9/1/2033
12
13
Pool # 725017, 5.50%, 12/1/2033
116
118
Pool # 751341, 5.50%, 3/1/2034
17
17
Pool # 888568, 5.00%, 12/1/2034
3
3
Pool # AD0755, 7.00%, 6/1/2035
840
888

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # 820347, 5.00%, 9/1/2035
24
24
Pool # 845549, 5.50%, 1/1/2036
14
14
Pool # 976871, 6.50%, 8/1/2036
2
2
Pool # 833657, 7.50%, 8/1/2036
11
11
Pool # 885704, 6.00%, 10/1/2036
1
1
Pool # 888696, 6.50%, 7/1/2037
3
3
Pool # 986648, 6.00%, 9/1/2037
53
55
Pool # 888892, 7.50%, 11/1/2037
11
12
Pool # 889883, 6.50%, 3/1/2038
2
2
Pool # 257510, 7.00%, 12/1/2038
42
44
Pool # AD0753, 7.00%, 1/1/2039
31
33
Pool # AD9151, 5.00%, 8/1/2040
8
8
Pool # AO9370, 3.50%, 7/1/2042
224
210
Pool # AT5891, 3.00%, 6/1/2043
1,133
1,034
Pool # AS3163, 4.00%, 8/1/2044
40
38
Pool # BE5039, 3.50%, 7/1/2046
141
132
Pool # BM3500, 4.00%, 9/1/2047
1,222
1,183
Pool # BJ1778, 4.50%, 10/1/2047
473
463
Pool # BM3499, 4.00%, 12/1/2047
82
77
Pool # BN9180, 4.00%, 6/1/2049
320
304
Pool # BK8753, 4.50%, 6/1/2049
553
538
Pool # BO1219, 4.50%, 6/1/2049
1,393
1,357
Pool # CA4018, 3.00%, 8/1/2049
212
188
Pool # BO7077, 3.00%, 9/1/2049
1,603
1,426
Pool # CA5549, 3.00%, 4/1/2050
3,449
3,065
Pool # CA5702, 2.50%, 5/1/2050
4,604
3,932
Pool # CA6079, 2.50%, 6/1/2050
2,668
2,238
Pool # BP6439, 2.50%, 7/1/2050
5,862
4,918
Pool # BP6474, 2.50%, 7/1/2050
9,963
8,434
Pool # CA6361, 2.50%, 7/1/2050
3,389
2,903
Pool # CA6989, 2.50%, 9/1/2050
4,035
3,450
Pool # FS1553, 2.50%, 11/1/2050
225
192
Pool # FS3599, 2.50%, 1/1/2051
3,826
3,248
Pool # BQ4516, 2.00%, 2/1/2051
5,474
4,422
Pool # FS5759, 3.50%, 2/1/2051
7,559
6,957
Pool # FS0730, 4.00%, 2/1/2051
3,294
3,094
Pool # FM8651, 2.50%, 4/1/2051
6,858
5,789
Pool # CB0047, 3.00%, 4/1/2051
807
705
Pool # CB1275, 2.50%, 8/1/2051
217
183
Pool # CB1301, 2.50%, 8/1/2051
218
186
Pool # FM8642, 2.50%, 9/1/2051
376
321
Pool # BU0070, 2.50%, 10/1/2051
3,923
3,308
Pool # CB1908, 2.50%, 10/1/2051
9,252
7,878
Pool # MA4466, 2.50%, 11/1/2051
3,683
3,103
Pool # FS1172, 3.00%, 11/1/2051
342
301
Pool # CB2275, 2.50%, 12/1/2051
214
181
Pool # FS2559, 3.00%, 12/1/2051
1,982
1,751
Pool # FS4108, 4.00%, 12/1/2051
2,979
2,807

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # CB2637, 2.50%, 1/1/2052
3,221
2,760
Pool # MA4512, 2.50%, 1/1/2052
464
391
Pool # CB2664, 3.00%, 1/1/2052
1,629
1,436
Pool # MA4513, 3.00%, 1/1/2052
511
447
Pool # CB2684, 3.50%, 1/1/2052
266
242
Pool # FS5986, 2.50%, 2/1/2052
3,972
3,403
Pool # FS0845, 3.00%, 2/1/2052
7,758
6,796
Pool # FS3345, 3.00%, 2/1/2052
3,625
3,195
Pool # FS7749, 3.00%, 2/1/2052
3,900
3,445
Pool # MA4549, 3.00%, 2/1/2052
529
463
Pool # FA0097, 2.50%, 3/1/2052
6,548
5,608
Pool # FS5446, 2.50%, 3/1/2052
5,125
4,326
Pool # FS8041, 2.50%, 3/1/2052
3,858
3,277
Pool # CB3236, 3.00%, 3/1/2052
203
179
Pool # FS0751, 3.00%, 3/1/2052
769
677
Pool # FA1671, 2.50%, 4/1/2052
6,974
5,959
Pool # BV5389, 3.00%, 4/1/2052
1,884
1,660
Pool # CB3426, 3.50%, 4/1/2052
175
160
Pool # CB3273, 4.00%, 4/1/2052
4,487
4,232
Pool # CB3383, 4.00%, 4/1/2052
3,798
3,572
Pool # FS4720, 2.50%, 5/1/2052
3,793
3,255
Pool # CB3494, 3.00%, 5/1/2052
7,126
6,274
Pool # FS7204, 3.00%, 5/1/2052
1,447
1,278
Pool # CB3679, 4.00%, 5/1/2052
3,820
3,592
Pool # CB3913, 4.00%, 5/1/2052
1,550
1,459
Pool # BV2531, 3.00%, 6/1/2052
20,185
17,672
Pool # BV5631, 3.00%, 6/1/2052
6,001
5,289
Pool # CB3891, 3.00%, 6/1/2052
23,258
20,452
Pool # FA1709, 3.00%, 6/1/2052
9,193
8,128
Pool # CB4124, 4.00%, 6/1/2052
2,019
1,898
Pool # CB4119, 4.00%, 7/1/2052
14,595
13,720
Pool # MA4656, 4.50%, 7/1/2052
225
217
Pool # CB4608, 4.00%, 9/1/2052
4,126
3,880
Pool # FS2898, 4.50%, 9/1/2052
2,531
2,441
Pool # BW8524, 5.00%, 9/1/2052
1,648
1,628
Pool # BW9985, 5.00%, 9/1/2052
3,347
3,324
Pool # CB4622, 5.00%, 9/1/2052
159
158
Pool # BV6789, 4.00%, 10/1/2052
1,242
1,168
Pool # BX0091, 5.00%, 10/1/2052
1,611
1,593
Pool # BV6794, 5.00%, 11/1/2052
1,396
1,398
Pool # CB5896, 5.00%, 3/1/2053
2,291
2,266
Pool # FS4687, 5.50%, 5/1/2053
177
179
Pool # BY4714, 5.00%, 6/1/2053
5,350
5,286
Pool # BY7027, 5.00%, 8/1/2053
4,637
4,572
FNMA, 30 Year
Pool # 252409, 6.50%, 3/1/2029
6
6
Pool # 252481, 6.50%, 4/1/2029
6
6
Pool # 685946, 6.00%, 9/1/2032
7
7

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # 725350, 6.00%, 1/1/2033
4
4
Pool # 653815, 7.00%, 2/1/2033
2
3
Pool # 752786, 6.00%, 9/1/2033
22
22
Pool # 801357, 5.50%, 8/1/2034
9
9
Pool # 813839, 6.00%, 11/1/2034
25
25
Pool # 827816, 6.00%, 1/1/2035
Pool # 827804, 6.00%, 3/1/2035
4
4
Pool # 931717, 6.50%, 8/1/2039
109
110
FNMA, Other
Pool # 468645, 4.54%, 7/1/2026
2,143
2,139
Pool # AM8803, 2.78%, 6/1/2027
4,219
4,162
Pool # AM8987, 2.79%, 6/1/2027
1,544
1,523
Pool # BL9574, 1.00%, 12/1/2027
3,718
3,545
Pool # AM4758, 4.02%, 11/1/2028
76
76
Pool # BL1040, 3.81%, 12/1/2028
3,000
2,966
Pool # BL0907, 3.88%, 12/1/2028
263
261
Pool # BS4959, 2.30%, 3/1/2029
449
425
Pool # AN4975, 3.21%, 3/1/2029
274
266
Pool # AN5527, 3.02%, 7/1/2029
187
181
Pool # BS8075, 5.00%, 9/1/2029
1,874
1,901
Pool # BZ1715, 4.48%, 10/1/2029
2,325
2,337
Pool # BL4364, 2.24%, 11/1/2029
5,115
4,787
Pool # BL4333, 2.52%, 11/1/2029
5,558
5,247
Pool # AM7785, 3.17%, 2/1/2030
2,521
2,417
Pool # AM7516, 3.55%, 2/1/2030
2,000
1,950
Pool # AM8544, 3.08%, 4/1/2030
6,720
6,426
Pool # AM8889, 2.92%, 5/1/2030
8,000
7,586
Pool # AM8700, 2.93%, 6/1/2030
1,759
1,671
Pool # AM9020, 2.97%, 6/1/2030
3,380
3,213
Pool # BZ1291, 4.82%, 8/1/2030
5,000
5,061
Pool # BZ2136, 4.59%, 9/1/2030
806
814
Pool # BS7241, 5.05%, 9/1/2030
5,000
5,101
Pool # BL9251, 1.45%, 10/1/2030
4,231
3,751
Pool # BL9839, 1.48%, 12/1/2030
261
231
Pool # BS1213, 1.28%, 2/1/2031
452
395
Pool # BS0920, 1.50%, 2/1/2031
225
198
Pool # BZ5796, 4.89%, 3/1/2031
3,583
3,627
Pool # BZ1791, 4.61%, 8/1/2031
4,443
4,465
Pool # BL4315, 2.39%, 9/1/2031
4,165
3,790
Pool # BS5153, 2.53%, 9/1/2031
971
886
Pool # BS5071, 2.63%, 9/1/2031
2,994
2,730
Pool # BS3637, 1.73%, 11/1/2031
3,763
3,310
Pool # BS4510, 1.93%, 12/1/2031
450
398
Pool # BS4313, 1.98%, 1/1/2032
8,350
7,344
Pool # BS8294, 4.44%, 1/1/2032
2,421
2,413
Pool # BS8214, 4.62%, 1/1/2032
1,904
1,914
Pool # BS4708, 2.17%, 3/1/2032
275
244
Pool # BS5117, 2.58%, 3/1/2032
3,790
3,436

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # BZ6147, 4.39%, 4/1/2032
6,000
5,943
Pool # BS9519, 5.44%, 4/1/2032
4,077
4,236
Pool # BS5760, 2.43%, 5/1/2032
2,759
2,492
Pool # BS5987, 3.55%, 6/1/2032
395
377
Pool # BZ3982, 4.66%, 6/1/2032
7,416
7,456
Pool # BL7538, 1.52%, 7/1/2032
7,127
6,096
Pool # AN6149, 3.14%, 7/1/2032
3,050
2,824
Pool # BS5530, 3.30%, 7/1/2032
435
407
Pool # BS6243, 3.87%, 8/1/2032
2,146
2,075
Pool # BZ4466, 4.45%, 8/1/2032
5,000
4,976
Pool # BS5887, 3.51%, 9/1/2032
2,000
1,886
Pool # BS6597, 3.67%, 9/1/2032
820
777
Pool # BS6339, 3.80%, 9/1/2032
3,844
3,692
Pool # BS6423, 3.81%, 9/1/2032
450
432
Pool # BS6505, 3.54%, 10/1/2032
3,283
3,106
Pool # BS6822, 3.81%, 10/1/2032
5,575
5,363
Pool # BS6759, 3.97%, 10/1/2032
4,712
4,569
Pool # AP9632, 4.00%, 10/1/2032
90
88
Pool # AP9762, 4.00%, 10/1/2032
36
35
Pool # BZ4871, 4.23%, 10/1/2032
6,120
6,014
Pool # BS6926, 4.51%, 10/1/2032
3,969
3,971
Pool # BS6928, 4.55%, 10/1/2032
2,065
2,071
Pool # 650230, 6.00%, 10/1/2032
2
2
Pool # BS6601, 3.54%, 11/1/2032
6,715
6,333
Pool # BS7115, 3.81%, 11/1/2032
10,120
9,725
Pool # AQ7084, 3.50%, 12/1/2032
157
152
Pool # BL9886, 1.47%, 1/1/2033
397
333
Pool # BS0391, 1.63%, 1/1/2033
292
246
Pool # BZ6279, 4.20%, 1/1/2033
10,530
10,271
Pool # AT2703, 3.50%, 5/1/2033
366
353
Pool # AT2954, 3.50%, 5/1/2033
271
261
Pool # AT4180, 3.50%, 5/1/2033
237
229
Pool # AT4939, 3.50%, 5/1/2033
197
191
Pool # BS8470, 4.52%, 6/1/2033
1,972
1,970
Pool # BS9351, 4.70%, 9/1/2033
3,907
3,912
Pool # BS9384, 5.04%, 9/1/2033
3,200
3,279
Pool # 754922, 5.50%, 9/1/2033
21
21
Pool # 762520, 4.00%, 11/1/2033
107
104
Pool # 255020, 5.50%, 11/1/2033
9
9
Pool # BS4198, 2.16%, 12/1/2033
8,577
7,356
Pool # BL1011, 4.02%, 12/1/2033
250
241
Pool # BZ5847, 4.83%, 1/1/2034
5,594
5,623
Pool # BZ5848, 4.90%, 1/1/2034
3,521
3,542
Pool # BL3756, 2.92%, 9/1/2034
2,458
2,188
Pool # BZ1884, 4.23%, 9/1/2034
4,250
4,147
Pool # BZ2030, 4.39%, 10/1/2034
3,000
2,937
Pool # BS7097, 4.67%, 11/1/2034
7,251
7,256
Pool # 735881, 6.00%, 11/1/2034
14
14

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # AM8922, 3.03%, 6/1/2035
1,899
1,789
Pool # BZ4852, 4.49%, 9/1/2035
10,117
9,990
Pool # BZ4781, 5.25%, 9/1/2035
2,061
2,139
Pool # AN0375, 3.76%, 12/1/2035
205
193
Pool # BS7789, 4.62%, 1/1/2036
7,868
7,762
Pool # 849215, 6.50%, 1/1/2036
10
10
Pool # 886320, 6.50%, 7/1/2036
6
6
Pool # 256526, 6.00%, 12/1/2036
2
2
Pool # BS4368, 2.29%, 1/1/2037
4,870
3,998
Pool # 888373, 7.00%, 3/1/2037
1
1
Pool # 256860, 6.50%, 8/1/2037
2
2
Pool # 888796, 6.00%, 9/1/2037
37
37
Pool # 257172, 5.50%, 4/1/2038
1
1
Pool # AO7225, 4.00%, 7/1/2042
190
184
Pool # AO9352, 4.00%, 7/1/2042
295
285
Pool # MA1125, 4.00%, 7/1/2042
242
233
Pool # AR1397, 3.00%, 1/1/2043
571
521
Pool # MA1711, 4.50%, 12/1/2043
946
935
Pool # MA1828, 4.50%, 3/1/2044
743
732
Pool # MA2793, 3.50%, 10/1/2046
44
41
Pool # BF0558, 5.00%, 12/1/2049
2,912
2,924
Pool # BF0091, 3.50%, 5/1/2056
805
729
Pool # BF0101, 3.50%, 6/1/2056
2,583
2,343
Pool # BM6545, 3.50%, 5/1/2058
2,535
2,283
Pool # BF0300, 4.00%, 8/1/2058
6,906
6,520
Pool # BF0464, 3.50%, 3/1/2060
2,033
1,832
Pool # BF0546, 2.50%, 7/1/2061
3,060
2,504
Pool # BF0560, 2.50%, 9/1/2061
3,724
3,048
Pool # BF0590, 2.50%, 12/1/2061
6,078
4,973
Pool # BF0579, 3.00%, 12/1/2061
5,275
4,519
Pool # BF0583, 4.00%, 12/1/2061
3,535
3,269
Pool # BF0759, 2.50%, 5/1/2062
5,173
4,233
FNMA/FHLMC UMBS, Single Family, 30 Year TBA, 5.00%, 6/25/2056(e)
30,000
29,512
GNMA I, 30 Year
Pool # 554108, 6.50%, 3/15/2028
8
8
Pool # 486537, 7.50%, 9/15/2028
1
1
Pool # 486631, 6.50%, 10/15/2028
1
1
Pool # 531500, 6.50%, 10/15/2030
37
37
Pool # 591882, 6.50%, 7/15/2032
8
8
Pool # 607645, 6.50%, 2/15/2033
17
17
Pool # 607724, 7.00%, 2/15/2033
15
15
Pool # 604209, 6.50%, 4/15/2033
24
24
Pool # 781614, 7.00%, 6/15/2033
20
21
Pool # BM2141, 5.00%, 7/15/2049
301
303
Pool # CO1916, 5.00%, 9/15/2052
2,529
2,609
GNMA II
Pool # CE5524, ARM, 5.62%, 8/20/2071(f)
2,509
2,624
Pool # CH7776, ARM, 5.36%, 10/20/2071(f)
2,971
3,086

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # CE5546, ARM, 5.54%, 10/20/2071(f)
4,894
5,099
Pool # CK7234, ARM, 5.29%, 2/20/2072(f)
2,580
2,676
Pool # CK2783, ARM, 5.48%, 2/20/2072(f)
4,779
4,992
Pool # CK2799, ARM, 5.48%, 3/20/2072(f)
3,971
4,154
Pool # CK2810, ARM, 5.44%, 4/20/2072(f)
4,792
5,017
Pool # CP1819, ARM, 5.59%, 7/20/2072(f)
3,802
4,019
Pool # CG5357, ARM, 5.39%, 8/20/2072(f)
902
949
Pool # CP4923, ARM, 5.70%, 8/20/2072(f)
5,196
5,463
GNMA II, 30 Year
Pool # 2270, 8.00%, 8/20/2026
Pool # 2285, 8.00%, 9/20/2026
Pool # 2324, 8.00%, 11/20/2026
Pool # 2499, 8.00%, 10/20/2027
Pool # 2512, 8.00%, 11/20/2027
1
1
Pool # 2525, 8.00%, 12/20/2027
Pool # 2549, 7.50%, 2/20/2028
Pool # 2630, 6.50%, 8/20/2028
1
1
Pool # 2646, 7.50%, 9/20/2028
2
2
Pool # 2808, 6.50%, 9/20/2029
6
7
Pool # 3025, 6.50%, 1/20/2031
8
8
Pool # 3068, 6.50%, 4/20/2031
8
9
Pool # 3362, 6.00%, 3/20/2033
16
16
Pool # 3427, 4.50%, 8/20/2033
28
28
Pool # 4840, 7.50%, 9/20/2037
2
2
Pool # 4245, 6.00%, 9/20/2038
256
269
Pool # AK8806, 4.25%, 3/20/2045
529
505
Pool # BA7567, 4.50%, 5/20/2048
34
32
Pool # BO0535, 4.00%, 7/20/2049
1,078
995
Pool # BO8227, 5.00%, 7/20/2049
659
669
Pool # BO8229, 5.00%, 7/20/2049
459
470
Pool # BM9734, 4.00%, 10/20/2049
1,015
954
Pool # BQ4115, 3.00%, 3/20/2050
2,151
1,914
Pool # 785294, 3.50%, 1/20/2051
2,860
2,542
Pool # CB1543, 3.00%, 2/20/2051
2,157
1,919
Pool # 785445, 2.50%, 3/20/2051
7,318
6,176
Pool # MA7705, 2.50%, 11/20/2051
16,852
14,430
Pool # MA7768, 3.00%, 12/20/2051
409
364
Pool # MA7829, 3.50%, 1/20/2052
508
462
Pool # CK2698, 3.00%, 2/20/2052
1,179
1,049
Pool # CK2716, 3.50%, 2/20/2052
3,476
3,092
Pool # MA7936, 2.50%, 3/20/2052
10,143
8,685
Pool # CM2161, 3.00%, 3/20/2052
1,963
1,747
Pool # CM2213, 3.00%, 3/20/2052
398
354
Pool # 786743, 3.50%, 4/20/2052
6,991
6,232
Pool # MA8097, 2.50%, 6/20/2052
14,084
12,059
Pool # CN2859, 4.50%, 6/20/2052
3,458
3,329
Pool # CO4824, 5.00%, 6/20/2052
1,277
1,286
Pool # MA8148, 3.00%, 7/20/2052
14,742
13,133

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Mortgage-Backed Securities — continued
Pool # CO4865, 5.00%, 7/20/2052
1,778
1,763
Pool # MA8200, 4.00%, 8/20/2052
7,148
6,706
Pool # MA8265, 3.00%, 9/20/2052
12,319
10,977
Pool # CO8413, 4.50%, 9/20/2052
4,131
3,977
Pool # MA8343, 2.50%, 10/20/2052
4,168
3,572
Pool # MA8346, 4.00%, 10/20/2052
10,507
9,882
Pool # MA8485, 2.50%, 12/20/2052
7,033
6,028
Pool # MA8721, 3.00%, 3/20/2053
4,968
4,435
Pool # MA8797, 3.50%, 4/20/2053
9,864
9,069
Pool # CT7445, 6.00%, 4/20/2053
1,051
1,084
Pool # MA9011, 2.50%, 7/20/2053
196
168
Pool # MA9301, 3.50%, 11/20/2053
2,738
2,506
Pool # MA9484, 3.50%, 2/20/2054
2,186
1,990
Pool # MA9720, 3.00%, 6/20/2054
193
172
Pool # MB0142, 3.00%, 1/20/2055
8,869
7,893
Pool # MB0360, 2.50%, 5/20/2055
7,689
6,586
Pool # 788620, 2.50%, 3/20/2056
15,664
13,454
GNMA II, Other
Pool # 4385, 5.00%, 3/20/2039
7
6
Pool # 787980, 4.00%, 5/20/2065
5,892
5,513
Pool # 788066, 4.00%, 7/20/2065
8,675
8,127
Total Mortgage-Backed Securities
(Cost $904,435)
891,761
Asset-Backed Securities — 11.4%
Academic Loan Funding Trust Series 2013-1A, Class A, 4.53%, 12/26/2044(b) (f)
327
321
Air Canada Pass-Through Trust (Canada)
Series 2015-2, Class AA, 3.75%, 12/15/2027(b)
146
144
Series 2017-1, Class AA, 3.30%, 1/15/2030(b)
311
296
Series 2017-1, Class A, 3.55%, 1/15/2030(b)
440
417
American Airlines Pass-Through Trust
Series 2014-1, Class A, 3.70%, 10/1/2026
15
15
Series 2016-3, Class AA, 3.00%, 10/15/2028
121
117
Series 2019-1, Class A, 3.50%, 2/15/2032
2,023
1,855
American Credit Acceptance Receivables Trust Series 2025-2, Class C, 5.11%, 4/14/2031(b)
100
101
AmeriCredit Automobile Receivables Trust Series 2023-2, Class A3, 5.81%, 5/18/2028
212
213
AMSR Trust
Series 2021-SFR1, Class D, 2.60%, 6/17/2038(b)
850
799
Series 2021-SFR3, Class C, 1.80%, 10/17/2038(b)
1,600
1,579
Series 2024-SFR2, Class A, 4.15%, 11/17/2041(b)
115
112
Series 2025-SFR1, Class B, 3.66%, 6/17/2042(b)
2,700
2,544
Series 2026-SFR1, Class A, 3.78%, 4/17/2043(b)
3,404
3,212
Series 2026-SFR1, Class C, 3.78%, 4/17/2043(b)
6,000
5,543
Ansley Park Capital LLC Series 2025-A, Class C, 4.82%, 4/20/2035(b)
3,395
3,339
Aqua Finance Issuer Trust
Series 2025-A, Class B, 5.56%, 12/19/2050(b)
2,927
2,944
Series 2026-A, Class A, 4.76%, 4/17/2051(b)
2,962
2,938
Avis Budget Rental Car Funding AESOP LLC
Series 2024-1A, Class A, 5.36%, 6/20/2030(b)
115
117

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Asset-Backed Securities — continued
Series 2025-2A, Class B, 5.51%, 8/20/2031(b)
1,500
1,515
Bastion Funding I LLC Series 2023-1A, Class A2, 7.12%, 4/25/2038‡ (b)
1,617
1,626
BDS LLC Series 2026-FL17, Class A, 5.00%, 5/19/2043(b) (f)
6,818
6,820
BG Beta Ltd. (Cayman Islands) 6.28%, 7/16/2054
2,702
2,705
Bridge Trust
Series 2024-SFR1, Class A, 4.00%, 8/17/2040(b)
201
194
Series 2025-SFR1, Class C, 4.20%, 9/17/2042(b)
1,795
1,674
Bridgecrest Lending Auto Securitization Trust Series 2024-3, Class B, 5.37%, 10/16/2028
1,716
1,719
British Airways Pass-Through Trust (United Kingdom)
Series 2018-1, Class AA, 3.80%, 9/20/2031(b)
290
283
Series 2018-1, Class A, 4.13%, 9/20/2031(b)
466
451
Series 2019-1, Class AA, 3.30%, 12/15/2032(b)
488
463
Business Jet Securities LLC Series 2022-1A, Class A, 4.46%, 6/15/2037‡ (b)
159
158
Carmax Auto Owner Trust Series 2025-2, Class A4, 4.65%, 11/15/2030
3,730
3,749
Cars Net Lease Mortgage Notes Series 2020-1A, Class A3, 3.10%, 12/15/2050(b)
783
750
Carvana Auto Receivables Trust
Series 2021-P4, Class A4, 1.64%, 12/10/2027
89
89
Series 2023-P3, Class A3, 5.82%, 8/10/2028(b)
262
263
CFIN Issuer LLC Series 2022-RTL1, Class AA, 4.75%, 2/16/2026‡ (b) (g)
397
394
Chase Funding Trust Series 2003-6, Class 1A7, 4.82%, 11/25/2034(g)
148
145
Citibank Credit Card Issuance Trust Series 2007-A3, Class A3, 6.15%, 6/15/2039
800
874
CNH Equipment Trust Series 2022-C, Class A3, 5.15%, 4/17/2028
42
42
Consumer Portfolio Services Auto Trust Series 2025-B, Class C, 5.12%, 7/15/2031(b)
3,276
3,296
CoreVest American Finance Trust
Series 2019-2, Class B, 3.42%, 6/15/2052(b)
158
152
Series 2019-2, Class D, 4.22%, 6/15/2052(b)
2,000
1,891
Series 2020-3, Class B, 2.20%, 8/15/2053(b)
3,180
2,992
CPS Auto Receivables Trust Series 2022-D, Class C, 7.69%, 1/16/2029(b)
1,103
1,108
Credit Acceptance Auto Loan Trust
Series 2023-1A, Class B, 7.02%, 5/16/2033(b)
502
503
Series 2023-3A, Class A, 6.39%, 8/15/2033(b)
242
242
Series 2023-5A, Class A, 6.13%, 12/15/2033(b)
1,805
1,812
6.95%, 2/15/2034
6,000
6,023
Series 2024-1A, Class A, 5.68%, 3/15/2034(b)
2,400
2,408
Series 2024-2A, Class A, 5.95%, 6/15/2034(b)
4,500
4,537
Series 2024-3A, Class C, 5.39%, 1/16/2035(b)
4,200
4,218
Series 2025-2A, Class C, 5.38%, 3/17/2036(b)
7,751
7,755
Credit One (Nigeria) 6.47%, 2/25/2029‡ (b)
4,000
3,998
CVS Pass-Through Trust 5.93%, 1/10/2034(b)
556
564
CWABS, Inc. Asset-Backed Certificates Trust Series 2004-6, Class M1, 4.60%, 10/25/2034(f)
10
10
D2 Multifamily Credit Issuer Ltd. (Cayman Islands) Series 2026-FL1, Class A, 5.11%, 11/19/2043(b) (f)
6,285
6,291
Dec
6.02%, 3/13/2030‡ (b)
4,000
4,000
6.91%, 1/15/2031‡ (b)
4,000
4,000
Deephaven Residential Mortgage Trust
Series 2025-CES1, Class A1A, 5.22%, 10/25/2055(b) (g)
6,105
6,087
Series 2026-CES1, Class A1A, 5.31%, 3/25/2061(b) (g)
5,587
5,565

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Asset-Backed Securities — continued
Delta Air Lines Pass-Through Trust
Series 2015-1, Class AA, 3.63%, 7/30/2027
179
177
Series 2020-1, Class AA, 2.00%, 6/10/2028
234
226
Diversified ABS Holdings LLC Series 2024-2A, Class A, 6.56%, 9/30/2044‡ (b)
2,564
2,558
Diversified ABS Phase LLC Series 2024-1A, Class A1, 7.08%, 5/30/2044(b)
2,903
2,921
DP Lion Holdco LLC Series 2023-1A, Class A, 8.24%, 11/30/2043
1,141
1,165
Drive Auto Receivables Trust
Series 2025-1, Class C, 4.99%, 9/15/2032
135
136
Series 2025-2, Class D, 4.90%, 12/15/2032
4,950
4,916
DT Auto Owner Trust Series 2022-3A, Class D, 8.14%, 7/17/2028(b)
2,554
2,597
EJ 6.37%, 10/10/2041
4,825
4,825
Energy Assets 8.11%, 8/25/2044
926
931
Enterprise Fleet Financing LLC Series 2025-2, Class A4, 4.58%, 12/22/2031(b)
2,880
2,890
Exeter Automobile Receivables Trust
Series 2025-4A, Class C, 4.57%, 6/16/2031
300
299
Series 2025-3A, Class C, 5.09%, 10/15/2031
195
196
Series 2025-4A, Class D, 5.23%, 1/15/2032
6,400
6,399
Series 2025-5A, Class C, 4.68%, 3/15/2032
3,400
3,387
Series 2025-5A, Class D, 5.16%, 3/15/2032
2,898
2,899
Series 2026-2A, Class C, 4.91%, 8/16/2032
4,494
4,481
FIGRE Trust Series 2026-HE4, Class A, 5.30%, 5/25/2056(b) (f)
4,910
4,890
FirstKey Homes Trust
Series 2022-SFR3, Class C, 4.50%, 7/17/2038(b)
3,466
3,463
Series 2021-SFR1, Class D, 2.19%, 8/17/2038(b)
4,000
3,973
Series 2021-SFR1, Class E2, 2.49%, 8/17/2038(b)
8,600
8,540
FMC GMSR Issuer Trust
Series 2021-GT1, Class A, 3.62%, 7/25/2026(b) (f)
4,300
4,139
Series 2021-GT2, Class A, 3.85%, 10/25/2026(b) (f)
3,370
3,244
Series 2024-SAT1, Class A, 6.50%, 3/26/2027(b) (f)
5,950
5,896
Series 2022-GT1, Class A, 6.19%, 4/25/2027(b)
6,000
6,003
Series 2020-GT1, Class A, 4.45%, 1/25/2028(b) (f)
5,000
4,933
Fortiva Retail Credit Master Note Business Trust Series 2025-TWO, Class A, 5.92%, 5/15/2031(b)
4,320
4,320
Foundation Finance Trust Series 2024-2A, Class A, 4.60%, 3/15/2050(b)
141
140
FW Energy Asset Issuer LLC 7.15%, 8/25/2044
2,972
3,005
GE Capital Mortgage Services, Inc. Trust Series 1999-HE1, Class M, 6.71%, 4/25/2029(f)
11
10
GLS Auto Receivables Issuer Trust
Series 2022-3A, Class D, 6.42%, 6/15/2028(b)
1,450
1,461
Series 2023-3A, Class C, 6.01%, 5/15/2029(b)
1,300
1,306
Series 2025-2A, Class C, 5.11%, 1/15/2031(b)
190
191
Series 2025-2A, Class D, 5.59%, 1/15/2031(b)
6,980
7,054
Series 2024-3A, Class C, 5.21%, 2/18/2031(b)
2,500
2,521
Series 2025-3A, Class D, 5.16%, 6/16/2031(b)
2,970
2,962
Series 2025-4A, Class D, 5.13%, 8/15/2031(b)
6,000
5,972
GM Financial Consumer Automobile Receivables Trust Series 2023-1, Class A3, 4.66%, 2/16/2028
21
21
Goodgreen
Series 2019-2A, Class A, 2.76%, 4/15/2055(b)
972
836
Series 2023-1A, Class A, 5.90%, 1/17/2061(b)
2,338
2,313
Goodgreen Trust Series 2017-1A, Class A, 3.74%, 10/15/2052(b)
195
180

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Asset-Backed Securities — continued
GoodLeap Home Improvement Solutions Trust Series 2026-1A, Class A, 5.31%, 12/20/2049(b)
9,224
9,187
Grene Energy Senio 0.00%, 1/25/2027
198
160
GS Mortgage-Backed Securities Trust Series 2025-SL1, Class A1, 5.85%, 11/25/2067(b) (f)
4,830
4,855
HERO Funding (Cayman Islands)
Series 2017-3A, Class A2, 3.95%, 9/20/2048(b)
518
483
Series 2018-1A, Class A2, 4.67%, 9/20/2048(b)
55
53
HERO Funding Trust
Series 2016-2A, Class A, 3.75%, 9/20/2041(b)
12
12
Series 2016-3A, Class A1, 3.08%, 9/20/2042(b)
203
189
Series 2017-1A, Class A2, 4.46%, 9/20/2047(b)
537
508
Hilton Grand Vacations Trust
Series 2022-1D, Class A, 3.61%, 6/20/2034(b)
24
24
Series 2024-2A, Class B, 5.65%, 3/25/2038(b)
62
63
Series 2024-1B, Class A, 5.75%, 9/15/2039(b)
43
44
Series 2025-2A, Class A, 4.54%, 5/25/2044(b)
4,714
4,702
HINNT LLC Series 2024-A, Class B, 5.84%, 3/15/2043(b)
1,709
1,726
Huntington Bank Auto Credit-Linked Notes Series 2025-2, Class B1, 4.84%, 9/20/2033(b)
5,982
5,979
Identity Digital Capital LLC 6.79%, 3/20/2065
5,000
4,980
Invitation Homes Trust
Series 2024-SFR1, Class A, 4.00%, 9/17/2041(b)
199
194
Series 2024-SFR1, Class D, 4.25%, 9/17/2041(b)
3,525
3,376
Jonah 0.00%, 12/10/2037‡ (b)
1,922
1,924
Jonah Energy ABS LLC
Series 2022-1, Class A1, 7.20%, 12/10/2037(b)
1,011
1,024
Series 2025-1A, Class A1, 6.59%, 12/10/2040(b)
2,348
2,348
KGS-Alpha SBA COOF Trust
Series 2012-2, Class A, IO, 0.90%, 8/25/2038(b) (f)
530
8
Series 2013-2, Class A, IO, 1.77%, 3/25/2039(b) (f)
443
11
Series 2015-2, Class A, IO, 2.75%, 7/25/2041‡ (b) (f)
366
35
Lending Funding Trust Series 2020-2A, Class C, 4.30%, 4/21/2031(b)
1,795
1,771
Mariner Finance Issuance Trust Series 2024-AA, Class A, 5.13%, 9/22/2036(b)
250
251
Mercedes-Benz Auto Receivables Trust Series 2023-1, Class A3, 4.51%, 11/15/2027
10
10
Mercury Financial Credit Card Master Trust
Series 2026-1A, Class A, 5.34%, 2/20/2032(b)
9,060
9,052
Series 2026-1A, Class B, 6.31%, 2/20/2032(b)
1,180
1,179
Series 2026-2A, Class B, 5.46%, 6/21/2032(b)
10,287
10,312
Midcon Energy Asset Issuer LLC 5.31%, 2/27/2051‡ (f)
4,722
4,722
Mid-State Capital Corp. Trust Series 2006-1, Class M1, 6.08%, 10/15/2040(b)
185
186
MMAF Equipment Finance LLC Series 2024-A, Class A4, 5.10%, 7/13/2049(b)
1,206
1,227
MVW LLC
Series 2025-1A, Class B, 5.21%, 9/22/2042(b)
3,266
3,276
Series 2026-1A, Class B, 4.97%, 3/20/2043(b)
2,605
2,594
Series 2025-2A, Class B, 4.72%, 10/20/2044(b)
6,326
6,248
Series 2025-2A, Class C, 4.97%, 10/20/2044(b)
3,378
3,298
New Century Home Equity Loan Trust
Series 2003-5, Class AI6, 4.84%, 11/25/2033(g)
148
146
Series 2003-5, Class AI7, 4.84%, 11/25/2033(f)
Nexgen, Inc. 0.00%, 11/16/2033‡ (f)
3,498
3,494

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Asset-Backed Securities — continued
Nexus Nova 6.50%, 11/8/2028
4,000
4,000
NMABS Issuer LLC Series 2025-1A, Class A, 5.14%, 11/22/2055(b)
7,016
6,825
NRZ Excess Spread-Collateralized Notes Series 2021-GNT1, Class A, 3.47%, 11/25/2026(b)
779
772
OneMain Direct Auto Receivables Trust Series 2025-1A, Class D, 6.10%, 7/14/2037(b)
4,000
4,062
Oportun Issuance Trust
Series 2025-D, Class B, 5.31%, 2/8/2033(b)
8,375
8,362
Series 2025-B, Class B, 5.28%, 5/9/2033(b)
2,000
2,002
PEAC Solutions Receivables LLC Series 2024-1A, Class A3, 5.64%, 11/20/2030(b)
5,900
5,985
Perimeter Master Note Business Trust Series 2025-1A, Class A, 5.58%, 12/16/2030(b)
6,550
6,512
Piper ABS Issuer LLC Series 2025-1A, Class A1, 5.29%, 1/15/2046
5,859
5,859
Porsche Innovative Lease Owner Trust Series 2024-1A, Class A4, 4.66%, 2/20/2030(b)
4,230
4,244
Post Road Equipment Finance LLC Series 2026-1A, Class B, 4.91%, 2/15/2033(b)
3,171
3,164
PowerPay Issuance Trust Series 2025-1A, Class A, 5.23%, 11/18/2041(b)
4,351
4,334
Progress Residential Trust
Series 2022-SFR2, Class E1, 4.55%, 4/17/2027(b)
4,000
3,957
Series 2021-SFR6, Class E1, 2.43%, 7/17/2038(b)
3,446
3,432
Series 2022-SFR3, Class E2, 5.60%, 4/17/2039(b)
2,685
2,676
Series 2024-SFR1, Class A, 3.35%, 2/17/2041(b)
540
519
Series 2024-SFR1, Class E1, 3.85%, 2/17/2041(b)
4,000
3,820
Series 2024-SFR3, Class A, 3.00%, 6/17/2041(b)
238
225
Series 2024-SFR4, Class A, 3.10%, 7/17/2041(b)
359
340
Series 2024-SFR5, Class A, 3.00%, 8/17/2041(b)
247
233
Series 2024-SFR5, Class D, 3.38%, 8/17/2041(b) (f)
1,892
1,757
Series 2025-SFR2, Class C, 3.56%, 4/17/2042(b)
7,399
6,891
Series 2025-SFR3, Class B, 3.39%, 7/17/2042(b)
4,250
3,959
Series 2025-SFR5, Class C, 4.00%, 10/17/2042(b)
1,747
1,638
Series 2025-SFR5, Class D, 4.00%, 10/17/2042(b)
2,536
2,366
Series 2025-SFR6, Class C, 4.00%, 12/17/2042(b)
3,200
3,003
Series 2026-SFR2, Class A, 4.24%, 5/17/2043(b)
5,145
4,967
Series 2026-SFR2, Class B, 4.32%, 5/17/2043(b)
4,605
4,412
Purewest ABS Issuer LLC Series 2025-1, Class A2, 6.53%, 4/5/2040‡ (b)
4,938
4,919
Renaissance Home Equity Loan Trust Series 2007-2, Class AF2, 5.68%, 6/25/2037(g)
287
66
Renew (Cayman Islands)
Series 2017-1A, Class A, 3.67%, 9/20/2052(b)
286
264
Series 2017-2A, Class A, 3.22%, 9/22/2053(b)
23
20
Series 2024-1A, Class A, 6.21%, 11/20/2059(b)
3,726
3,724
Research-Driven Pagaya Motor Asset Trust Series 2026-2A, Class A3, 5.38%, 2/26/2035(b)
8,900
8,914
Revolution III Abs LLC 6.18%, 3/28/2046
4,189
4,189
Santander Drive Auto Receivables Trust
Series 2024-2, Class C, 5.84%, 6/17/2030
120
122
Series 2022-5, Class D, 5.67%, 12/16/2030
4,182
4,206
Series 2022-6, Class D, 5.69%, 2/18/2031
5,800
5,837
Series 2022-7, Class C, 6.69%, 3/17/2031
123
125
Series 2024-2, Class D, 6.28%, 8/15/2031
4,700
4,816
Series 2024-4, Class D, 5.32%, 12/15/2031
1,550
1,560
Series 2025-4, Class C, 4.52%, 1/15/2032
2,740
2,729
SCF Equipment Leasing LLC
Series 2024-1A, Class A3, 5.52%, 1/20/2032(b)
186
188

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Asset-Backed Securities — continued
Series 2024-1A, Class B, 5.56%, 4/20/2032(b)
2,280
2,318
Series 2023-1A, Class C, 6.77%, 8/22/2033(b)
3,815
3,926
Series 2025-1A, Class A3, 5.11%, 11/21/2033(b)
3,500
3,542
Series 2025-2A, Class C, 4.82%, 6/20/2036(b)
4,460
4,359
Series 2025-2A, Class D, 5.33%, 6/20/2036(b)
2,705
2,648
Securitized Asset-Backed Receivables LLC Trust Series 2006-CB1, Class AF2, 2.80%, 1/25/2036(g)
129
110
Sierra Timeshare Receivables Funding LLC Series 2024-2A, Class A, 5.14%, 6/20/2041(b)
84
84
Stellantis Financial Underwritten Enhanced Lease Trust Series 2025-AA, Class A3, 4.47%, 7/20/2028(b)
100
100
Stream Innovations Issuer Trust Series 2024-1A, Class A, 6.27%, 7/15/2044(b)
2,311
2,377
Towd Point Mortgage Trust
Series 2026-CES2, Class A1A, 4.72%, 2/25/2066(b) (g)
4,068
4,015
Series 2026-FIX2, Class A1A, 5.31%, 4/25/2066(b) (g)
3,954
3,943
Tricon Residential Trust Series 2022-SFR1, Class D, 4.75%, 4/17/2039(b)
1,837
1,823
Ucielo 2025-assic 8.01%, 8/9/2033
125
125
United Airlines Pass-Through Trust
Series 2016-1, Class A, 3.45%, 7/7/2028
433
418
Series 2018-1, Class AA, 3.50%, 3/1/2030
487
472
Series 2018-1, Class A, 3.70%, 3/1/2030
1,064
1,018
Series 2019-1, Class AA, 4.15%, 8/25/2031
685
666
Series 2019-1, Class A, 4.55%, 8/25/2031
613
592
Series 2019-2, Class AA, 2.70%, 5/1/2032
927
846
Series 2024-1, Class AA, 5.45%, 2/15/2037
1,396
1,429
UOG ABS Issuer LLC Series 2023-1, Class A1, 8.35%, 6/5/2040‡ (b)
1,249
1,279
US Auto Funding Trust Series 2022-1A, Class B, 5.13%, 12/15/2026‡ (b)
4,080
1,267
VFI ABS LLC Series 2025-1A, Class B, 4.97%, 12/24/2030(b)
1,590
1,589
vMobo, Inc. 7.46%, 7/18/2027
5,998
5,735
Western Funding Auto Loan Trust Series 2025-1, Class A, 4.75%, 7/16/2035(b)
200
201
Westlake Automobile Receivables Trust
Series 2022-2A, Class D, 5.48%, 9/15/2027(b)
902
903
Series 2023-3A, Class C, 6.02%, 9/15/2028(b)
2,815
2,828
Series 2023-4A, Class C, 6.64%, 11/15/2028(b)
2,632
2,656
Series 2023-2A, Class D, 7.01%, 11/15/2028(b)
2,897
2,931
Wingspire Equipment Finance LLC Series 2024-1A, Class B, 5.06%, 9/20/2032(b)
4,000
4,022
Wolf Energy Asset Issuer LLC 5.70%, 7/25/2050
2,570
2,570
Total Asset-Backed Securities
(Cost $531,569)
528,786
Collateralized Mortgage Obligations — 4.8%
Al, 5.59%, 10/25/2029
7,000
7,000
Alternative Loan Trust
Series 2004-2CB, Class 1A9, 5.75%, 3/25/2034
1,689
1,717
Series 2005-1CB, Class 1A6, IF, IO, 3.40%, 3/25/2035(f)
219
23
Series 2005-22T1, Class A2, IF, IO, 1.37%, 6/25/2035(f)
2,507
161
Series 2005-20CB, Class 3A8, IF, IO, 1.05%, 7/25/2035(f)
812
30
Series 2005-28CB, Class 1A4, 5.50%, 8/25/2035
739
626
Series 2005-28CB, Class 3A5, 6.00%, 8/25/2035
46
16
Series 2005-37T1, Class A2, IF, IO, 1.35%, 9/25/2035(f)
1,660
97
Series 2005-54CB, Class 1A2, IF, IO, 1.15%, 11/25/2035(f)
1,205
51
Series 2005-54CB, Class 1A11, 5.50%, 11/25/2035
478
359

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2005-57CB, Class 3A2, IF, IO, 1.40%, 12/25/2035(f)
363
24
Series 2005-64CB, Class 1A9, 5.50%, 12/25/2035
204
179
Series 2006-26CB, Class A9, 6.50%, 9/25/2036
816
368
Anchor Mortgage Trust
8.23%, 3/25/2031‡ (f)
3,435
3,444
Series 2025-RTL1, Class A1, 5.72%, 5/25/2040(b) (g)
3,515
3,513
Banc of America Alternative Loan Trust
Series 2004-6, Class 15, PO, 7/25/2019
5
2
Series 2006-4, Class 1A4, 6.00%, 5/25/2046
181
165
Banc of America Funding Trust
Series 2004-1, PO, 3/25/2034
36
25
Series 2004-2, Class 30, PO, 9/20/2034
54
42
Series 2005-6, Class 2A7, 5.50%, 10/25/2035
96
87
Series 2005-7, Class 30, PO, 11/25/2035
43
44
Series 2005-8, Class 30, PO, 1/25/2036
25
14
Series 2006-A, Class 3A2, 4.58%, 2/20/2036(f)
69
62
Banc of America Mortgage Trust Series 2004-A, Class 2A2, 5.27%, 2/25/2034(f)
16
16
Bear Stearns ARM Trust
Series 2003-7, Class 3A, 6.25%, 10/25/2033(f)
8
8
Series 2004-1, Class 12A1, 4.92%, 4/25/2034(f)
97
86
Series 2004-2, Class 14A, 4.24%, 5/25/2034(f)
16
15
Series 2006-1, Class A1, 5.95%, 2/25/2036(f)
199
193
BVRT LLC Series 2025-1, Class B, 3.64%, 5/10/2033‡ (b) (f)
3,568
3,467
CAFL Issuer LP
Series 2025-RRTL1, Class A1, 5.68%, 5/28/2040(b) (g)
7,170
7,191
Series 2025-RRTL2, Class A1, 5.18%, 11/28/2040(b) (g)
3,565
3,540
Center Street Lending Resi-Investor ABS Mortgage Trust Series 2026-RTL1, Class A1, 5.38%, 12/25/2030(b) (g)
4,341
4,323
CFIN LLC Series 2024-1A, Class A, 6.50%, 11/27/2028‡ (b)
4,700
4,730
CHL Mortgage Pass-Through Trust
Series 2004-HYB1, Class 2A, 4.82%, 5/20/2034(f)
19
18
Series 2004-HYB3, Class 2A, 4.24%, 6/20/2034(f)
70
67
Series 2004-7, Class 2A1, 4.77%, 6/25/2034(f)
51
48
Series 2004-HYB6, Class A3, 5.23%, 11/20/2034(f)
72
70
Series 2005-16, Class A23, 5.50%, 9/25/2035
167
99
Series 2005-22, Class 2A1, 4.78%, 11/25/2035(f)
432
357
Citicorp Mortgage Securities REMIC Pass-Through Certificates Trust
Series 2005-5, Class A, PO, 8/25/2035
23
14
Series 2005-8, Class A, PO, 11/25/2035
43
25
Citigroup Global Markets Mortgage Securities VII, Inc.
Series 2003-UP2, Class 1, PO, 6/25/2033
1
1
Series 2003-HYB1, Class A, 6.74%, 9/25/2033(f)
8
7
Citigroup Mortgage Loan Trust
Series 2004-UST1, Class A6, 6.23%, 8/25/2034(f)
6
6
Series 2015-A, Class B2, 4.50%, 6/25/2058(b) (f)
71
70
Citigroup Mortgage Loan Trust, Inc.
Series 2003-1, Class 3, PO, 9/25/2033
5
4
Series 2003-1, Class 2, PO, 10/25/2033
Series 2003-1, Class 2A6, PO, 10/25/2033
3
3

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2003-1, Class 2A5, 5.25%, 10/25/2033
7
6
Series 2005-1, Class 2A1A, 3.11%, 2/25/2035(f)
104
92
Series 2005-2, Class 2A11, 5.50%, 5/25/2035
59
59
Series 2005-5, Class 1A2, 4.11%, 8/25/2035(f)
125
106
Credit Suisse First Boston Mortgage Securities Corp. (Switzerland)
Series 2003-1, Class DB1, 6.68%, 2/25/2033(f)
113
116
Series 2003-21, Class 1A4, 5.25%, 9/25/2033
23
23
Series 2003-25, Class 1P, PO, 10/25/2033
56
43
CSFB Mortgage-Backed Pass-Through Certificates
Series 2005-4, Class 3A18, 5.50%, 6/25/2035
349
348
Series 2005-4, Class 3A23, 5.50%, 6/25/2035
736
734
CVS Pass-Through Trust, 5.77%, 1/10/2033(b)
22
22
EQV Abs Issuer I LLC, 5.85%, 12/15/2040
2,446
2,446
FHLMC Seasoned Credit Risk Transfer Trust
Series 2017-4, Class HT, 3.25%, 6/25/2057(g)
5,287
4,818
Series 2017-4, Class M45T, 4.50%, 6/25/2057
2,372
2,313
Series 2019-1, Class MT, 3.50%, 7/25/2058
2,102
1,887
Series 2019-3, Class MB, 3.50%, 10/25/2058
1,725
1,439
Series 2019-4, Class M55D, 4.00%, 2/25/2059
64
59
Series 2020-1, Class MA, 2.50%, 8/25/2059
3,991
3,707
Series 2022-1, Class MTU, 3.25%, 11/25/2061
2,765
2,390
Series 2023-1, Class MT, 3.00%, 10/25/2062
4,121
3,450
Series 2024-1, Class MT, 3.00%, 11/25/2063
1,929
1,624
Series 2024-2, Class MT, 3.50%, 5/25/2064
6,019
5,272
FHLMC, REMIC
Series 1890, Class H, 7.50%, 9/15/2026
Series 1899, Class ZE, 8.00%, 9/15/2026
Series 1963, Class Z, 7.50%, 1/15/2027
1
1
Series 1935, Class FL, 4.46%, 2/15/2027(f)
Series 1981, Class Z, 6.00%, 5/15/2027
Series 1970, Class PG, 7.25%, 7/15/2027
Series 1987, Class PE, 7.50%, 9/15/2027
2
2
Series 2019, Class Z, 6.50%, 12/15/2027
4
4
Series 2038, Class PN, IO, 7.00%, 3/15/2028
3
Series 2040, Class PE, 7.50%, 3/15/2028
5
5
Series 4251, Class KW, 2.50%, 4/15/2028
383
378
Series 2043, Class CJ, 6.50%, 4/15/2028
1
1
Series 2054, Class PV, 7.50%, 5/15/2028
3
3
Series 2075, Class PM, 6.25%, 8/15/2028
14
15
Series 2075, Class PH, 6.50%, 8/15/2028
13
13
Series 2086, Class GB, 6.00%, 9/15/2028
3
3
Series 2089, Class PJ, IO, 7.00%, 10/15/2028
6
Series 2095, Class PE, 6.00%, 11/15/2028
17
17
Series 2125, Class JZ, 6.00%, 2/15/2029
8
8
Series 2136, Class PG, 6.00%, 3/15/2029
8
8
Series 2132, Class SB, IF, 14.24%, 3/15/2029(f)
1
2
Series 2141, IO, 7.00%, 4/15/2029
1
Series 2169, Class TB, 7.00%, 6/15/2029
22
22

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2163, Class PC, IO, 7.50%, 6/15/2029
2
Series 2172, Class QC, 7.00%, 7/15/2029
20
20
Series 2176, Class OJ, 7.00%, 8/15/2029
18
18
Series 2201, Class C, 8.00%, 11/15/2029
3
3
Series 2209, Class TC, 8.00%, 1/15/2030
7
7
Series 2210, Class Z, 8.00%, 1/15/2030
17
18
Series 2224, Class CB, 8.00%, 3/15/2030
4
4
Series 2230, Class Z, 8.00%, 4/15/2030
9
9
Series 2234, Class PZ, 7.50%, 5/15/2030
9
9
Series 2247, Class Z, 7.50%, 8/15/2030
11
11
Series 2256, Class MC, 7.25%, 9/15/2030
7
7
Series 2259, Class ZM, 7.00%, 10/15/2030
20
21
Series 2262, Class Z, 7.50%, 10/15/2030
2
2
Series 2271, Class PC, 7.25%, 12/15/2030
22
23
Series 2296, Class PD, 7.00%, 3/15/2031
14
14
Series 2319, Class FD, 4.46%, 5/15/2031(f)
1
1
Series 2313, Class LA, 6.50%, 5/15/2031
5
5
Series 2325, Class PM, 7.00%, 6/15/2031
11
11
Series 2359, Class ZB, 8.50%, 6/15/2031
33
35
Series 2344, Class ZD, 6.50%, 8/15/2031
108
112
Series 2344, Class ZJ, 6.50%, 8/15/2031
14
14
Series 2345, Class NE, 6.50%, 8/15/2031
14
14
Series 2351, Class PZ, 6.50%, 8/15/2031
10
10
Series 2353, Class AZ, 6.00%, 9/15/2031
56
57
Series 2367, Class ME, 6.50%, 10/15/2031
27
28
Series 2396, Class FM, 4.21%, 12/15/2031(f)
4
4
Series 2399, Class OH, 6.50%, 1/15/2032
23
24
Series 2399, Class TH, 6.50%, 1/15/2032
35
37
Series 2464, Class SI, IF, IO, 4.24%, 2/15/2032(f)
62
5
Series 2410, Class QX, IF, IO, 4.89%, 2/15/2032(f)
10
1
Series 2410, Class NG, 6.50%, 2/15/2032
28
29
Series 2420, Class XK, 6.50%, 2/15/2032
39
40
Series 2412, Class SP, IF, 8.59%, 2/15/2032(f)
30
32
Series 2410, Class QS, IF, 9.73%, 2/15/2032(f)
27
29
Series 2444, Class ES, IF, IO, 4.19%, 3/15/2032(f)
23
2
Series 2450, Class SW, IF, IO, 4.24%, 3/15/2032(f)
19
1
Series 2448, Class FT, 4.76%, 3/15/2032(f)
6
6
Series 2430, Class WF, 6.50%, 3/15/2032
66
68
Series 2423, Class MC, 7.00%, 3/15/2032
35
36
Series 2423, Class MT, 7.00%, 3/15/2032
28
29
Series 2435, Class CJ, 6.50%, 4/15/2032
37
39
Series 2434, Class TC, 7.00%, 4/15/2032
35
37
Series 2436, Class MC, 7.00%, 4/15/2032
11
11
Series 2455, Class GK, 6.50%, 5/15/2032
72
75
Series 2450, Class GZ, 7.00%, 5/15/2032
24
26
Series 2462, Class JG, 6.50%, 6/15/2032
36
38
Series 2466, Class PH, 6.50%, 6/15/2032
63
65
Series 2474, Class NR, 6.50%, 7/15/2032
37
38

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2484, Class LZ, 6.50%, 7/15/2032
38
39
Series 2505, Class D, 5.50%, 9/15/2032
13
13
Series 2500, Class MC, 6.00%, 9/15/2032
28
28
Series 2501, Class PW, 6.00%, 9/15/2032
7
7
Series 2835, Class QO, PO, 12/15/2032
5
5
Series 2543, Class YX, 6.00%, 12/15/2032
80
82
Series 2544, Class HC, 6.00%, 12/15/2032
41
42
Series 2552, Class ME, 6.00%, 1/15/2033
92
94
Series 2567, Class QD, 6.00%, 2/15/2033
106
109
Series 2575, Class ME, 6.00%, 2/15/2033
239
246
Series 2596, Class QG, 6.00%, 3/15/2033
50
52
Series 2586, Class WI, IO, 6.50%, 3/15/2033
22
3
Series 2631, Class SA, IF, 7.96%, 6/15/2033(f)
2
2
Series 2692, Class SC, IF, 5.77%, 7/15/2033(f)
18
19
Series 4240, Class B, 3.00%, 8/15/2033
1,571
1,509
Series 2733, Class SB, IF, 4.63%, 10/15/2033(f)
16
15
Series 2780, Class SY, IF, 8.23%, 11/15/2033(f)
1
1
Series 3920, Class LP, 5.00%, 1/15/2034
210
213
Series 2744, Class PE, 5.50%, 2/15/2034
Series 3611, PO, 7/15/2034
17
15
Series 2990, Class UZ, 5.75%, 6/15/2035
554
574
Series 3004, Class EK, 5.50%, 7/15/2035
1,007
1,033
Series 3014, Class OD, PO, 8/15/2035
15
13
Series 3085, Class WF, 4.56%, 8/15/2035(f)
38
38
Series 3012, Class ZE, 5.75%, 8/15/2035
39
40
Series 3047, Class OD, 5.50%, 10/15/2035
127
129
Series 3074, Class BH, 5.00%, 11/15/2035
34
34
Series 3064, Class MC, 5.50%, 11/15/2035
2,058
2,103
Series 3102, Class FB, 4.06%, 1/15/2036(f)
3
3
Series 3102, Class HS, IF, 10.79%, 1/15/2036(f)
5
6
Series 3117, Class EO, PO, 2/15/2036
88
79
Series 3117, Class OK, PO, 2/15/2036
55
48
Series 3134, PO, 3/15/2036
14
12
Series 3152, Class MO, PO, 3/15/2036
69
61
Series 3122, Class ZB, 6.00%, 3/15/2036
36
37
Series 3138, PO, 4/15/2036
74
64
Series 3607, Class BO, PO, 4/15/2036
38
34
Series 3219, Class DI, IO, 6.00%, 4/15/2036
49
8
Series 3819, Class ZQ, 6.00%, 4/15/2036
300
312
Series 3149, Class SO, PO, 5/15/2036
13
10
Series 3233, Class OP, PO, 5/15/2036
21
17
Series 3171, Class MO, PO, 6/15/2036
7
6
Series 3179, Class OA, PO, 7/15/2036
54
47
Series 3194, Class SA, IF, IO, 3.34%, 7/15/2036(f)
17
1
Series 3211, Class SO, PO, 9/15/2036
68
60
Series 3218, Class AO, PO, 9/15/2036
34
28
Series 3232, Class ST, IF, IO, 2.94%, 10/15/2036(f)
108
7
Series 3256, PO, 12/15/2036
46
39

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 4476, Class CM, 3.50%, 12/15/2036
188
183
Series 3261, Class OA, PO, 1/15/2037
56
47
Series 3260, Class CS, IF, IO, 2.38%, 1/15/2037(f)
100
8
Series 3274, Class JO, PO, 2/15/2037
17
15
Series 3275, Class FL, 4.20%, 2/15/2037(f)
13
13
Series 3290, Class SB, IF, IO, 2.69%, 3/15/2037(f)
137
10
Series 3318, Class AO, PO, 5/15/2037
2
2
Series 3607, PO, 5/15/2037
69
57
Series 3315, Class HZ, 6.00%, 5/15/2037
57
59
Series 3326, Class JO, PO, 6/15/2037
5
4
Series 3331, PO, 6/15/2037
58
50
Series 3607, Class OP, PO, 7/15/2037
162
139
Series 4048, Class FJ, 4.17%, 7/15/2037(f)
150
148
Series 3385, Class SN, IF, IO, 2.24%, 11/15/2037(f)
22
1
Series 3387, Class SA, IF, IO, 2.66%, 11/15/2037(f)
86
6
Series 3422, Class AI, IO, 0.25%, 1/15/2038(g)
310
2
Series 3404, Class SC, IF, IO, 2.24%, 1/15/2038(f)
122
10
Series 3424, Class PI, IF, IO, 3.04%, 4/15/2038(f)
107
10
Series 3461, Class LZ, 6.00%, 6/15/2038
4
4
Series 3481, Class SJ, IF, IO, 2.09%, 8/15/2038(f)
120
9
Series 3511, Class SA, IF, IO, 2.24%, 2/15/2039(f)
87
6
Series 4701, Class CH, 3.00%, 7/15/2039
74
71
Series 3549, Class FA, 4.96%, 7/15/2039(f)
6
7
Series 3621, Class BO, PO, 1/15/2040
52
45
Series 3632, Class BS, IF, 4.98%, 2/15/2040(f)
16
16
Series 3747, Class PY, 4.00%, 10/15/2040
461
449
Series 3925, Class FL, 4.21%, 1/15/2041(f)
7
7
Series 3844, Class DB, 4.50%, 4/15/2041
31
31
Series 3852, Class QN, IF, 5.50%, 5/15/2041(f)
49
46
Series 3852, Class TP, IF, 5.50%, 5/15/2041(f)
159
155
Series 3871, Class JB, 5.50%, 6/15/2041
19
20
Series 3924, Class LC, 4.00%, 9/15/2041
173
166
Series 3957, Class B, 4.00%, 11/15/2041
56
54
Series 3966, Class NA, 4.00%, 12/15/2041
149
144
Series 4217, Class KY, 3.00%, 6/15/2043
2,300
2,037
Series 4928, Class PB, 2.50%, 9/25/2048
314
291
Series 4902, Class BA, 3.00%, 1/25/2049
198
181
Series 4865, Class PE, 3.00%, 3/15/2049
160
153
FHLMC, STRIPS
Series 233, Class 11, IO, 5.00%, 9/15/2035
110
17
Series 233, Class 13, IO, 5.00%, 9/15/2035
151
21
Series 269, Class 30, 3.00%, 8/15/2042
31
29
Series 299, Class 300, 3.00%, 1/15/2043
777
709
Series 310, PO, 9/15/2043
451
348
Series 323, Class 300, 3.00%, 1/15/2044
644
584
FHLMC, Structured Pass-Through Certificates, Whole Loan
Series T-41, Class 3A, 4.44%, 7/25/2032(f)
152
139
Series T-76, Class 2A, 2.11%, 10/25/2037(f)
404
369

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series T-51, Class 2A, 7.50%, 8/25/2042(f)
130
128
Series T-54, Class 2A, 6.50%, 2/25/2043
712
745
Series T-54, Class 3A, 7.00%, 2/25/2043
199
203
Series T-58, Class A, PO, 9/25/2043
42
35
Series T-59, Class 1AP, PO, 10/25/2043
107
54
First Horizon Alternative Mortgage Securities Trust
Series 2004-AA4, Class A1, 4.70%, 10/25/2034(f)
45
45
Series 2005-FA8, Class 1A19, 5.50%, 11/25/2035
303
126
Series 2007-FA4, Class 1A2, IF, IO, 1.95%, 8/25/2037(f)
785
52
FNMA REMIC Trust Series 2007-42, Class AO, PO, 5/25/2037
3
2
FNMA Trust, Whole Loan
Series 2004-W1, Class 2A2, 7.00%, 12/25/2033
38
40
Series 2004-W2, Class 2A2, 7.00%, 2/25/2044
47
48
Series 2004-W15, Class 2AF, 3.98%, 8/25/2044(f)
78
77
Series 2005-W3, Class 2AF, 3.95%, 3/25/2045(f)
214
212
Series 2006-W2, Class 1AF1, 3.95%, 2/25/2046(f)
68
67
FNMA, Grantor Trust Series 2017-T1, Class A, 2.90%, 6/25/2027
4,802
4,738
FNMA, Grantor Trust, Whole Loan
Series 2002-T19, Class A2, 7.00%, 7/25/2042
297
311
Series 2004-T3, Class 1A3, 7.00%, 2/25/2044
154
157
FNMA, REMIC
Series 1997-27, Class J, 7.50%, 4/18/2027
Series 1997-29, Class J, 7.50%, 4/20/2027
1
1
Series 1997-39, Class PD, 7.50%, 5/20/2027
3
3
Series 2012-98, Class KY, 3.50%, 9/25/2027
224
223
Series 1997-81, Class PI, IO, 7.00%, 12/18/2027
2
Series 1998-36, Class ZB, 6.00%, 7/18/2028
4
4
Series 1999-17, Class C, 6.35%, 4/25/2029
3
3
Series 1999-62, Class PB, 7.50%, 12/18/2029
3
3
Series 2000-2, Class ZE, 7.50%, 2/25/2030
14
14
Series 2010-136, Class BA, 3.50%, 12/25/2030
150
147
Series 2000-52, IO, 8.50%, 1/25/2031
3
Series 2001-7, Class PF, 7.00%, 3/25/2031
3
3
Series 2011-31, Class DB, 3.50%, 4/25/2031
395
386
Series 2001-33, Class ID, IO, 6.00%, 7/25/2031
26
3
Series 2001-30, Class PM, 7.00%, 7/25/2031
20
20
Series 2001-36, Class DE, 7.00%, 8/25/2031
26
27
Series 2001-49, Class Z, 6.50%, 9/25/2031
8
9
Series 2001-44, Class MY, 7.00%, 9/25/2031
54
56
Series 2001-44, Class PD, 7.00%, 9/25/2031
5
5
Series 2001-44, Class PU, 7.00%, 9/25/2031
10
10
Series 2001-52, Class KB, 6.50%, 10/25/2031
9
10
Series 2003-52, Class SX, IF, 11.77%, 10/25/2031(f)
12
13
Series 2001-61, Class Z, 7.00%, 11/25/2031
81
84
Series 2001-72, Class SX, IF, 8.79%, 12/25/2031(f)
1
1
Series 2002-1, Class SA, IF, 13.08%, 2/25/2032(f)
5
6
Series 2002-13, Class SJ, IF, IO, 1.60%, 3/25/2032(f)
33
Series 2002-11, Class QF, 4.23%, 3/25/2032(f)
1
1

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2002-13, Class ST, IF, 10.00%, 3/25/2032(f)
1
1
Series 2002-21, Class LO, PO, 4/25/2032
2
2
Series 2002-21, Class PE, 6.50%, 4/25/2032
21
22
Series 2002-28, Class PK, 6.50%, 5/25/2032
53
54
Series 2012-66, Class CB, 3.00%, 6/25/2032
1,366
1,318
Series 2002-37, Class Z, 6.50%, 6/25/2032
16
17
Series 2006-130, Class GI, IO, 6.50%, 7/25/2032
33
2
Series 2002-51, Class FZ, 4.23%, 8/25/2032(f)
3
3
Series 2002-48, Class GH, 6.50%, 8/25/2032
76
79
Series 2002-52, Class FG, 4.23%, 9/25/2032(f)
2
2
Series 2002-68, Class FT, 4.06%, 10/18/2032(f)
Series 2002-64, Class FE, 4.11%, 10/18/2032(f)
Series 2004-61, Class SK, IF, 8.50%, 11/25/2032(f)
9
9
Series 2004-59, Class BG, PO, 12/25/2032
30
27
Series 2002-77, Class S, IF, 7.65%, 12/25/2032(f)
13
13
Series 2002-95, Class FT, 4.23%, 1/25/2033(f)
1
1
Series 2002-97, Class GB, 5.50%, 1/25/2033
3
3
Series 2003-22, Class UD, 4.00%, 4/25/2033
323
317
Series 2003-35, Class UC, 3.75%, 5/25/2033
Series 2003-42, Class GB, 4.00%, 5/25/2033
26
25
Series 2003-34, Class AX, 6.00%, 5/25/2033
51
52
Series 2003-34, Class ED, 6.00%, 5/25/2033
235
241
Series 2003-39, IO, 6.00%, 5/25/2033(f)
11
1
Series 2003-33, Class IA, IO, 6.50%, 5/25/2033
88
11
Series 2007-97, Class KI, IO, 7.00%, 5/25/2033
175
12
Series 2003-47, Class PE, 5.75%, 6/25/2033
48
49
Series 2003-64, Class SX, IF, 4.34%, 7/25/2033(f)
12
12
Series 2003-87, Class SL, IF, 5.37%, 7/25/2033(f)
21
21
Series 2003-132, Class OA, PO, 8/25/2033
1
1
Series 2003-71, Class DS, IF, 2.45%, 8/25/2033(f)
117
107
Series 2003-74, Class SH, IF, 3.46%, 8/25/2033(f)
27
25
Series 2003-72, Class IE, IO, 5.50%, 8/25/2033
113
12
Series 2003-91, Class SD, IF, 6.29%, 9/25/2033(f)
20
20
Series 2013-101, Class AE, 3.00%, 10/25/2033
1,384
1,330
Series 2013-101, Class E, 3.00%, 10/25/2033
1,351
1,299
Series 2013-108, Class GU, 3.00%, 10/25/2033
1,672
1,601
Series 2003-116, Class SB, IF, IO, 3.87%, 11/25/2033(f)
110
8
Series 2006-44, Class P, PO, 12/25/2033
263
231
Series 2003-131, Class CH, 5.50%, 1/25/2034
15
16
Series 2003-130, Class SX, IF, 5.93%, 1/25/2034(f)
1
1
Series 2004-25, Class SA, IF, 9.28%, 4/25/2034(f)
36
38
Series 2004-46, Class SK, IF, 6.25%, 5/25/2034(f)
56
59
Series 2004-46, Class QB, IF, 9.09%, 5/25/2034(f)
41
43
Series 2004-36, Class SA, IF, 9.28%, 5/25/2034(f)
106
114
Series 2004-51, Class SY, IF, 6.79%, 7/25/2034(f)
22
22
Series 2005-56, Class S, IF, IO, 2.98%, 7/25/2035(f)
131
8
Series 2005-66, Class SG, IF, 8.06%, 7/25/2035(f)
42
45
Series 2005-68, Class PG, 5.50%, 8/25/2035
83
85

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2005-72, Class SB, IF, 7.56%, 8/25/2035(f)
1
1
Series 2005-84, Class XM, 5.75%, 10/25/2035
185
188
Series 2005-110, Class GL, 5.50%, 12/25/2035
1,019
1,039
Series 2005-109, Class PC, 6.00%, 12/25/2035
42
43
Series 2006-16, Class OA, PO, 3/25/2036
36
32
Series 2006-22, Class AO, PO, 4/25/2036
67
60
Series 2006-23, Class KO, PO, 4/25/2036
8
7
Series 2006-44, Class GO, PO, 6/25/2036
101
90
Series 2006-53, Class US, IF, IO, 2.85%, 6/25/2036(f)
148
10
Series 2006-56, PO, 7/25/2036
69
62
Series 2006-58, PO, 7/25/2036
46
40
Series 2006-58, Class AP, PO, 7/25/2036
100
81
Series 2006-65, Class QO, PO, 7/25/2036
67
58
Series 2006-56, Class FC, 4.02%, 7/25/2036(f)
124
123
Series 2006-58, Class FL, 4.19%, 7/25/2036(f)
11
11
Series 2006-60, Class DZ, 6.50%, 7/25/2036
1,595
1,664
Series 2011-19, Class ZY, 6.50%, 7/25/2036
5
6
Series 2006-72, Class TO, PO, 8/25/2036
12
10
Series 2006-79, Class DO, PO, 8/25/2036
50
42
Series 2007-7, Class SG, IF, IO, 2.77%, 8/25/2036(f)
746
66
Series 2006-77, Class PC, 6.50%, 8/25/2036
88
90
Series 2006-90, Class AO, PO, 9/25/2036
23
21
Series 2008-42, Class AO, PO, 9/25/2036
24
21
Series 2009-19, Class IP, IO, 5.50%, 10/25/2036
278
44
Series 2006-109, PO, 11/25/2036
25
22
Series 2006-110, PO, 11/25/2036
120
105
Series 2006-111, Class EO, PO, 11/25/2036
16
13
Series 2006-124, Class HB, 6.10%, 11/25/2036(f)
274
289
Series 2006-119, PO, 12/25/2036
19
17
Series 2006-118, Class A2, 3.82%, 12/25/2036(f)
75
74
Series 2009-70, Class CO, PO, 1/25/2037
133
109
Series 2006-128, Class BP, 5.50%, 1/25/2037
10
10
Series 2007-14, Class ES, IF, IO, 2.71%, 3/25/2037(f)
199
18
Series 2007-77, Class FG, 4.23%, 3/25/2037(f)
21
20
Series 2007-16, Class FC, 4.48%, 3/25/2037(f)
28
28
Series 2007-14, Class GZ, 5.50%, 3/25/2037
4
4
Series 2007-48, PO, 5/25/2037
26
23
Series 2007-60, Class AX, IF, IO, 3.42%, 7/25/2037(f)
557
67
Series 2007-81, Class GE, 6.00%, 8/25/2037
70
73
Series 2007-88, Class VI, IF, IO, 2.81%, 9/25/2037(f)
392
28
Series 2007-91, Class ES, IF, IO, 2.73%, 10/25/2037(f)
298
27
Series 2007-116, Class HI, IO, 1.83%, 1/25/2038(f)
150
10
Series 2008-1, Class BI, IF, IO, 2.18%, 2/25/2038(f)
98
7
Series 2008-16, Class IS, IF, IO, 2.47%, 3/25/2038(f)
44
3
Series 2008-10, Class XI, IF, IO, 2.50%, 3/25/2038(f)
104
8
Series 2008-27, Class SN, IF, IO, 3.17%, 4/25/2038(f)
52
5
Series 2008-44, PO, 5/25/2038
4
4
Series 2008-53, Class CI, IF, IO, 3.47%, 7/25/2038(f)
52
5

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2008-80, Class SA, IF, IO, 2.12%, 9/25/2038(f)
139
10
Series 2008-81, Class SB, IF, IO, 2.12%, 9/25/2038(f)
189
12
Series 2009-6, Class GS, IF, IO, 2.82%, 2/25/2039(f)
118
8
Series 2009-52, Class PI, IO, 5.00%, 7/25/2039
4
1
Series 2009-60, Class HT, 6.00%, 8/25/2039
124
129
Series 2009-99, Class SC, IF, IO, 2.45%, 12/25/2039(f)
37
2
Series 2009-103, Class MB, 6.06%, 12/25/2039(f)
60
60
Series 2009-112, Class ST, IF, IO, 2.52%, 1/25/2040(f)
5
Series 2010-49, Class SC, IF, 5.21%, 3/25/2040(f)
90
87
Series 2010-64, Class DM, 5.00%, 6/25/2040
27
27
Series 2010-80, Class HZ, 5.00%, 7/25/2040
210
211
Series 2010-71, Class HJ, 5.50%, 7/25/2040
74
75
Series 2010-147, Class SA, IF, IO, 2.80%, 1/25/2041(f)
416
41
Series 2011-30, Class LS, IO, 1.87%, 4/25/2041(f)
126
10
Series 2011-75, Class FA, 4.28%, 8/25/2041(f)
20
20
Series 2011-118, Class MT, 7.00%, 11/25/2041
104
109
Series 2011-130, Class CA, 6.00%, 12/25/2041
306
319
Series 2012-83, Class AC, 3.00%, 8/25/2042
192
173
Series 2013-2, Class AD, 1.50%, 2/25/2043
118
108
Series 2013-6, Class PY, 2.00%, 2/25/2043
97
64
Series 2013-81, Class TA, 3.00%, 2/25/2043
238
236
Series 2017-49, Class LA, 3.00%, 6/25/2043
89
87
Series 2013-92, PO, 9/25/2043
367
281
Series 2013-90, Class PM, 3.50%, 9/25/2043
1,694
1,563
Series 2013-101, Class DO, PO, 10/25/2043
654
475
Series 2013-104, Class CY, 5.00%, 10/25/2043
250
252
Series 2013-128, PO, 12/25/2043
670
517
Series 2018-3, Class LP, 3.00%, 2/25/2047
152
144
Series 2018-47, Class VC, 3.00%, 12/25/2047
320
316
Series 2019-25, Class PA, 3.00%, 5/25/2048
94
87
Series 2019-60, Class DA, 2.50%, 3/25/2049
205
182
Series 2020-46, Class KB, 1.25%, 6/25/2050
7,496
5,777
Series 2011-2, Class WA, 5.79%, 2/25/2051(f)
59
61
Series 2021-95, Class GA, 1.88%, 3/25/2051
7,166
5,906
FNMA, REMIC Trust, Whole Loan
Series 2007-W7, Class 1A4, IF, 16.82%, 7/25/2037(f)
4
5
Series 2003-W4, Class 2A, 4.96%, 10/25/2042(f)
21
21
Series 2003-W1, Class 1A1, 4.67%, 12/25/2042(f)
183
182
Series 2003-W1, Class 2A, 5.03%, 12/25/2042(f)
83
82
Series 2003-W10, Class 1A4, 4.51%, 6/25/2043
8
8
Series 2009-W1, Class A, 6.00%, 12/25/2049
95
97
FNMA, REMIC, Whole Loan
Series 2007-101, Class A2, 4.59%, 6/27/2036(f)
136
138
Series 2007-54, Class FA, 4.13%, 6/25/2037(f)
75
74
Series 2007-106, Class A7, 6.05%, 10/25/2037(f)
39
39
Series 2003-18, Class X1, IO, 0.47%, 12/25/2042(f)
580
4
FNMA, STRIPS
Series 318, Class 1, PO, 1/25/2032
3
3

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 329, Class 1, PO, 1/25/2033
10
9
Series 345, Class 6, IO, 5.00%, 12/25/2033(f)
16
2
Series 351, Class 7, IO, 5.00%, 4/25/2034(f)
55
6
Series 355, Class 11, IO, 6.00%, 7/25/2034
52
6
Series 365, Class 8, IO, 5.50%, 5/25/2036
78
13
Series 374, Class 5, IO, 5.50%, 8/25/2036
40
6
Series 393, Class 6, IO, 5.50%, 4/25/2037
11
1
Series 383, Class 32, IO, 6.00%, 1/25/2038
20
4
Series 383, Class 33, IO, 6.00%, 1/25/2038
53
9
FNMA, Whole Loan Series 2004-W15, Class 1A1, 6.00%, 8/25/2044
5
5
GMACM Mortgage Loan Trust Series 2005-AR3, Class 3A4, 4.03%, 6/19/2035(f)
155
152
GNMA
Series 2001-35, Class SA, IF, IO, 4.51%, 8/16/2031(f)
19
Series 2002-52, Class GH, 6.50%, 7/20/2032
112
112
Series 2003-58, Class BE, 6.50%, 1/20/2033
162
161
Series 2003-46, Class MG, 6.50%, 5/20/2033
118
118
Series 2003-52, Class AP, PO, 6/16/2033
33
29
Series 2003-112, Class SA, IF, IO, 2.81%, 12/16/2033(f)
136
1
Series 2004-16, Class GC, 5.50%, 2/20/2034
29
29
Series 2004-28, Class S, IF, 9.38%, 4/16/2034(f)
48
52
Series 2004-90, Class SI, IF, IO, 2.38%, 10/20/2034(f)
181
5
Series 2004-89, Class BS, IF, 5.71%, 10/20/2034(f)
2
2
Series 2004-98, Class SB, IF, 10.94%, 11/20/2034(f)
20
21
Series 2005-68, Class DP, IF, 7.42%, 6/17/2035(f)
12
13
Series 2010-14, Class CO, PO, 8/20/2035
63
53
Series 2005-58, Class NI, IO, 5.50%, 8/20/2035(f)
289
22
Series 2005-74, Class HB, 7.50%, 9/16/2035
Series 2005-74, Class HC, 7.50%, 9/16/2035
3
3
Series 2005-68, Class KI, IF, IO, 2.58%, 9/20/2035(f)
428
29
Series 2005-91, Class PI, IO, 6.00%, 12/20/2035
61
4
Series 2006-16, Class OP, PO, 3/20/2036
30
25
Series 2006-38, Class ZK, 6.50%, 8/20/2036
361
360
Series 2006-59, Class SD, IF, IO, 2.98%, 10/20/2036(f)
115
6
Series 2011-22, Class WA, 5.75%, 2/20/2037(f)
126
128
Series 2007-9, Class CI, IF, IO, 2.48%, 3/20/2037(f)
11
1
Series 2007-17, Class JO, PO, 4/16/2037
30
24
Series 2007-17, Class JI, IF, IO, 3.07%, 4/16/2037(f)
277
17
Series 2007-19, Class SD, IF, IO, 2.48%, 4/20/2037(f)
146
1
Series 2007-28, Class BO, PO, 5/20/2037
30
24
Series 2007-26, Class SC, IF, IO, 2.48%, 5/20/2037(f)
123
1
Series 2007-27, Class SA, IF, IO, 2.48%, 5/20/2037(f)
126
1
Series 2007-36, Class SE, IF, IO, 2.73%, 6/16/2037(f)
72
Series 2007-47, Class PH, 6.00%, 7/16/2037
1,031
1,056
Series 2007-40, Class SB, IF, IO, 3.03%, 7/20/2037(f)
272
5
Series 2007-42, Class SB, IF, IO, 3.03%, 7/20/2037(f)
162
3
Series 2007-53, Class SW, IF, 9.05%, 9/20/2037(f)
14
15
Series 2009-79, Class OK, PO, 11/16/2037
43
36
Series 2007-67, Class EI, IF, IO, 0.02%, 11/20/2037(f)
464

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2007-67, Class GI, IF, IO, 0.02%, 11/20/2037(f)
1,391
Series 2007-73, Class MI, IF, IO, 2.28%, 11/20/2037(f)
91
Series 2007-76, Class SA, IF, IO, 2.81%, 11/20/2037(f)
181
1
Series 2007-72, Class US, IF, IO, 2.83%, 11/20/2037(f)
87
1
Series 2007-79, Class SY, IF, IO, 2.83%, 12/20/2037(f)
79
Series 2008-2, Class NS, IF, IO, 2.80%, 1/16/2038(f)
186
8
Series 2008-2, Class MS, IF, IO, 3.42%, 1/16/2038(f)
56
3
Series 2008-10, Class S, IF, IO, 2.11%, 2/20/2038(f)
98
Series 2009-106, Class ST, IF, IO, 2.28%, 2/20/2038(f)
21
Series 2008-36, Class SH, IF, IO, 2.58%, 4/20/2038(f)
137
1
Series 2008-36, Class ZA, 4.25%, 4/20/2038
237
232
Series 2008-40, Class SA, IF, IO, 2.66%, 5/16/2038(f)
574
22
Series 2008-38, Class PL, 5.50%, 5/20/2038
41
41
Series 2008-55, Class SA, IF, IO, 2.48%, 6/20/2038(f)
77
Series 2008-71, Class SC, IF, IO, 2.28%, 8/20/2038(f)
34
Series 2008-65, Class PG, 6.00%, 8/20/2038
20
20
Series 2009-25, Class SE, IF, IO, 3.88%, 9/20/2038(f)
68
1
Series 2008-93, Class AS, IF, IO, 1.98%, 12/20/2038(f)
100
4
Series 2009-6, Class SA, IF, IO, 2.36%, 2/16/2039(f)
97
Series 2009-12, Class IE, IO, 5.50%, 3/20/2039
206
2
Series 2009-14, Class KI, IO, 6.50%, 3/20/2039
94
4
Series 2009-14, Class NI, IO, 6.50%, 3/20/2039
88
4
Series 2009-22, Class SA, IF, IO, 2.55%, 4/20/2039(f)
155
10
Series 2009-33, Class CI, IO, 5.50%, 5/20/2039
44
2
Series 2009-33, Class TI, IO, 6.00%, 5/20/2039
47
3
Series 2009-43, Class SA, IF, IO, 2.23%, 6/20/2039(f)
88
3
Series 2009-72, Class SM, IF, IO, 2.51%, 8/16/2039(f)
174
11
Series 2010-31, Class NO, PO, 3/20/2040
320
276
Series 2013-75, Class WA, 5.06%, 6/20/2040(f)
382
387
Series 2010-130, Class CP, 7.00%, 10/16/2040
47
49
Series 2010-157, Class OP, PO, 12/20/2040
350
301
Series 2011-75, Class SM, IF, IO, 2.88%, 5/20/2041(f)
224
13
Series 2014-188, Class W, 4.54%, 10/20/2041(f)
172
172
Series 2012-141, Class WC, 3.74%, 1/20/2042(f)
122
115
Series 2012-96, Class QJ, 2.00%, 8/20/2042
113
80
Series 2013-54, Class WA, 4.89%, 11/20/2042(f)
727
736
Series 2013-91, Class WA, 4.40%, 4/20/2043(f)
397
379
Series 2013-116, Class JY, 4.00%, 8/16/2043
1,300
1,220
Series 2018-160, Class PA, 3.50%, 7/20/2046
406
402
Series 2024-110, Class JC, 3.00%, 9/20/2047
11,860
11,280
Series 2018-5, Class AB, 3.00%, 1/20/2048
90
81
Series 2025-6, Class A, 3.50%, 11/20/2050
5,203
4,895
Series 2022-9, Class P, 2.00%, 9/20/2051
4,803
4,226
Series 2022-154, Class JZ, 4.50%, 9/20/2052
1,474
1,300
Series 2023-115, Class TS, IF, 7.91%, 6/20/2053(f)
3,405
3,384
Series 2012-H24, Class FG, 4.21%, 4/20/2060(f)
1
1
Series 2013-H03, Class FA, 4.08%, 8/20/2060(f)
Series 2012-H21, Class CF, 4.48%, 5/20/2061(f)

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2013-H05, Class FB, 4.16%, 2/20/2062(f)
10
10
Series 2012-H15, Class FA, 4.23%, 5/20/2062(f)
Series 2012-H26, Class MA, 4.33%, 7/20/2062(f)
3
3
Series 2012-H28, Class FA, 4.36%, 9/20/2062(f)
1
1
Series 2012-H29, Class FA, 4.29%, 10/20/2062(f)
31
31
Series 2012-H31, Class FD, 4.12%, 12/20/2062(f)
111
111
Series 2013-H01, Class FA, 1.65%, 1/20/2063
Series 2013-H04, Class BA, 1.65%, 2/20/2063
2
2
Series 2013-H08, Class FC, 4.23%, 2/20/2063(f)
102
102
Series 2013-H07, Class HA, 4.19%, 3/20/2063(f)
85
85
Series 2013-H09, Class HA, 1.65%, 4/20/2063
10
10
Series 2013-H18, Class JA, 4.38%, 8/20/2063(f)
118
119
Series 2014-H01, Class FD, 4.43%, 1/20/2064(f)
44
44
Series 2014-H09, Class TA, 4.38%, 4/20/2064(f)
54
54
Series 2024-57, Class PT, 4.50%, 4/20/2064
3,348
3,214
Series 2015-H15, Class FD, 4.22%, 6/20/2065(f)
183
183
Series 2015-H15, Class FJ, 4.22%, 6/20/2065(f)
336
336
Series 2015-H16, Class FG, 4.22%, 7/20/2065(f)
314
313
Series 2015-H23, Class FB, 4.30%, 9/20/2065(f)
271
271
Series 2015-H32, Class FH, 4.44%, 12/20/2065(f)
204
204
Series 2017-H08, Class XI, IO, 2.20%, 3/20/2067(f)
1,490
63
Series 2017-H14, Class FV, 4.28%, 6/20/2067(f)
13
13
Series 2021-H14, Class CF, 5.03%, 9/20/2071(f)
4,358
4,470
GSMPS Mortgage Loan Trust
Series 2001-2, Class A, 7.50%, 6/19/2032(b) (f)
171
169
Series 2005-RP3, Class 1AS, IO, 0.43%, 9/25/2035(b) (f)
294
2
Series 2005-RP3, Class 1AF, 4.05%, 9/25/2035(b) (f)
389
337
Series 2006-RP2, Class 1AS2, IF, IO, 0.40%, 4/25/2036(b) (f)
1,086
58
GSR Mortgage Loan Trust
Series 2004-6F, Class 3A4, 6.50%, 5/25/2034
61
62
Series 2004-8F, Class 2A3, 6.00%, 9/25/2034
23
23
Series 2004-13F, Class 3A3, 6.00%, 11/25/2034
49
50
Series 2005-4F, Class AP, PO, 5/25/2035
Series 2005-7F, Class 3A9, 6.00%, 9/25/2035
200
200
Series 2006-1F, Class 2A4, 6.00%, 2/25/2036
617
234
Impac CMB Trust Series 2005-4, Class 2A1, 4.30%, 5/25/2035(f)
47
46
Impac Secured Assets CMN Owner Trust Series 2003-3, Class A1, 5.20%, 8/25/2033(f)
5
5
Impac Secured Assets Trust Series 2006-1, Class 2A1, 4.40%, 5/25/2036(f)
40
38
JPMorgan Mortgage Trust
Series 2006-A2, Class 5A3, 6.31%, 11/25/2033(f)
46
46
Series 2006-A3, Class 6A1, 4.84%, 8/25/2034(f)
13
13
Series 2006-A2, Class 4A1, 6.25%, 8/25/2034(f)
66
68
Lehman Mortgage Trust
Series 2006-2, Class 1A1, 5.72%, 4/25/2036(f)
156
97
Series 2008-2, Class 1A6, 6.00%, 3/25/2038
414
95
LHOME Mortgage Trust Series 2025-RTL2, Class A1, 5.61%, 4/25/2040(b) (f)
3,045
3,060
MASTR Adjustable Rate Mortgages Trust
Series 2004-13, Class 2A1, 6.02%, 4/21/2034(f)
39
39

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Series 2004-4, Class 2A1, 5.92%, 5/25/2034(f)
21
21
Series 2004-13, Class 3A7, 5.46%, 11/21/2034(f)
96
96
Series 2004-15, Class 3A1, 6.76%, 12/25/2034(f)
30
30
MASTR Alternative Loan Trust
Series 2004-8, Class 6A1, 5.50%, 9/25/2019
Series 2004-4, Class 10A1, 5.00%, 5/25/2024
30
10
Series 2003-3, Class 1A1, 6.50%, 5/25/2033
23
24
Series 2003-9, Class 8A1, 6.00%, 1/25/2034
95
90
Series 2004-3, Class 2A1, 6.25%, 4/25/2034
61
62
Series 2004-6, Class 30, PO, 7/25/2034
75
61
Series 2004-6, Class 7A1, 6.00%, 7/25/2034
110
108
Series 2004-7, Class 30, PO, 8/25/2034
33
23
MASTR Asset Securitization Trust
Series 2004-6, Class 15, PO, 7/25/2019
Series 2003-12, Class 30, PO, 12/25/2033
1
Series 2004-1, Class 30, PO, 2/25/2034
5
4
MASTR Reperforming Loan Trust Series 2005-2, Class 1A1F, 4.05%, 5/25/2035(b) (f)
986
455
MASTR Resecuritization Trust Series 2005-PO, Class 3, PO, 5/28/2035(b)
33
21
Merrill Lynch Mortgage Investors Trust
Series 2003-E, Class A1, 4.32%, 10/25/2028(f)
10
10
Series 2003-F, Class A1, 4.34%, 10/25/2028(f)
32
32
Series 2004-A, Class A1, 4.16%, 4/25/2029(f)
30
28
Series 2004-B, Class A3, 4.94%, 5/25/2029(f)
3
2
Series 2004-1, Class 2A1, 4.92%, 12/25/2034(f)
48
46
NACC Reperforming Loan REMIC Trust Series 2004-R2, Class A1, 6.50%, 10/25/2034(b) (f)
105
91
New Residential Mortgage Loan Trust
Series 2024-RTL1, Class A1, 6.66%, 3/25/2039(b) (g)
3,721
3,725
Series 2024-RTL2, Class A1, 5.44%, 9/25/2039(b) (g)
3,545
3,561
Nomura Asset Acceptance Corp. Alternative Loan Trust
Series 2003-A1, Class A5, 7.00%, 4/25/2033
32
32
Series 2003-A1, Class A1, 5.50%, 5/25/2033
5
5
Series 2003-A1, Class A2, 6.00%, 5/25/2033
13
13
P4 SFR Series 2019-STL A, 0.00%, 10/11/2026
2,003
1,985
PRET Trust Series 2024-RPL2, Class A1, 4.07%, 6/25/2064(b) (f)
3,311
3,143
RALI Trust Series 2004-QA6, Class NB2, 4.32%, 12/26/2034(f)
156
151
Seasoned Credit Risk Transfer Trust
Series 2025-1, Class MTU, 3.25%, 11/25/2064
5,476
4,690
Series 2025-2, Class MTU, 3.25%, 6/25/2065
4,808
4,060
Seasoned Loans Structured Transaction Trust
Series 2025-1, Class A1, 3.00%, 5/25/2035
9,658
8,927
Series 2025-2, Class A1, 3.00%, 10/25/2035
10,498
9,732
Sequoia Mortgage Trust Series 10, Class 1A, 4.52%, 10/20/2027(f)
1
1
Structured Asset Mortgage Investments II Trust Series 2004-AR5, Class 1A1, 4.39%, 10/19/2034(f)
65
64
Thornburg Mortgage Securities Trust
Series 2003-4, Class A1, 4.34%, 9/25/2043(f)
36
36
Series 2004-4, Class 3A, 5.27%, 12/25/2044(f)
77
77
Toorak Mortgage Trust Series 2025-RRTL1, Class A1, 5.52%, 2/25/2040(b) (g)
2,000
2,005
Towd Point Mortgage Trust Series 2021-R1, Class A1, 2.92%, 11/30/2060(b) (f)
4,823
4,310

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Collateralized Mortgage Obligations — continued
Vendee Mortgage Trust
Series 1996-2, Class 1Z, 6.75%, 6/15/2026
6
6
Series 1997-1, Class 2Z, 7.50%, 2/15/2027
18
18
Series 1998-1, Class 2E, 7.00%, 3/15/2028
50
51
Series 1999-1, Class 2Z, 6.50%, 1/15/2029
131
131
Series 2003-2, Class Z, 5.00%, 5/15/2033
892
891
WaMu Mortgage Pass-Through Certificates Series 2004-RS2, Class A4, 5.00%, 11/25/2033
187
184
WaMu Mortgage Pass-Through Certificates Trust
Series 2003-AR6, Class A1, 5.97%, 6/25/2033(f)
4
3
Series 2003-AR8, Class A, 5.18%, 8/25/2033(f)
14
13
Series 2003-AR9, Class 1A6, 5.28%, 9/25/2033(f)
244
242
Series 2003-AR9, Class 2A, 5.68%, 9/25/2033(f)
15
15
Series 2003-S9, Class P, PO, 10/25/2033
6
5
Series 2003-S9, Class A8, 5.25%, 10/25/2033
130
129
Series 2003-AR10, Class A7, 5.66%, 10/25/2033(f)
5
5
Series 2004-AR3, Class A1, 4.90%, 6/25/2034(f)
23
22
Series 2004-AR3, Class A2, 4.90%, 6/25/2034(f)
20
19
Series 2006-AR10, Class 2P, 4.06%, 9/25/2036(f)
36
33
Series 2006-AR12, Class 2P, 3.78%, 10/25/2036(f)
30
27
Washington Mutual Mortgage Pass-Through Certificates WMALT Trust
Series 2005-2, Class 2A3, IF, IO, 1.30%, 4/25/2035(f)
294
12
Series 2005-2, Class 1A4, IF, IO, 1.35%, 4/25/2035(f)
1,433
57
Series 2005-3, Class CX, IO, 5.50%, 5/25/2035
445
67
Series 2005-4, Class CB7, 5.50%, 6/25/2035
422
391
Series 2005-4, Class CX, IO, 5.50%, 6/25/2035
393
58
Series 2005-6, Class 2A4, 5.50%, 8/25/2035
78
67
Series 2005-6, Class 2A9, 5.50%, 8/25/2035
498
432
Wells Fargo Mortgage-Backed Securities Trust Series 2007-7, Class A7, 6.00%, 6/25/2037
58
53
Total Collateralized Mortgage Obligations
(Cost $227,985)
224,572
Commercial Mortgage-Backed Securities — 2.6%
BAMLL Commercial Mortgage Securities Trust Series 2014-520M, Class C, 4.21%, 8/15/2046(b) (f)
1,300
906
CSTL Commercial Mortgage Trust
Series 2025-GATE2, Class B, 4.85%, 11/10/2042(b) (f)
3,395
3,314
Series 2025-GATE2, Class C, 5.14%, 11/10/2042(b) (f)
1,470
1,438
FHLMC, Multi-Family Structured Pass-Through Certificates
Series KS06, Class A2, 2.72%, 7/25/2026
33
33
Series K065, Class A2, 3.24%, 4/25/2027
2,467
2,447
Series K070, Class A2, 3.30%, 11/25/2027(f)
1,748
1,726
Series K070, Class AM, 3.36%, 12/25/2027
153
151
Series K117, Class A2, 1.41%, 8/25/2030
500
444
Series K754, Class AM, 4.94%, 11/25/2030(f)
1,740
1,771
Series K142, Class A2, 2.40%, 3/25/2032
555
497
Series K146, Class A2, 2.92%, 6/25/2032
4,200
3,854
Series K-150, Class A2, 3.71%, 9/25/2032(f)
1,005
960
Series K138, Class AM, 1.89%, 1/25/2055
1,850
1,609
FNMA ACES
Series 2017-M3, Class A2, 2.48%, 12/25/2026(f)
623
617

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Commercial Mortgage-Backed Securities — continued
Series 2015-M10, Class A2, 3.09%, 4/25/2027(f)
3,855
3,828
Series 2017-M8, Class A2, 3.06%, 5/25/2027(f)
2,410
2,386
Series 2018-M8, Class A2, 3.31%, 6/25/2028(f)
2,027
1,994
Series 2018-M10, Class A2, 3.36%, 7/25/2028(f)
3,056
3,006
Series 2018-M14, Class A2, 3.58%, 8/25/2028(f)
198
195
Series 2017-M5, Class A2, 3.02%, 4/25/2029(f)
1,483
1,437
Series 2020-M50, Class A2, 1.20%, 10/25/2030
1,041
1,012
Series 2020-M50, Class X1, IO, 1.82%, 10/25/2030(f)
17,118
482
Series 2026-M10, Class A1, 1.85%, 6/25/2031(f)
2,884
2,662
Series 2026-M9, Class A1, 1.57%, 10/25/2031(f)
888
799
Series 2022-M1S, Class A2, 2.08%, 4/25/2032(f)
5,675
5,003
Series 2022-M13, Class A2, 2.59%, 6/25/2032(f)
6,802
6,141
Series 2022-M2S, Class A2, 3.76%, 8/25/2032(f)
4,142
3,982
Series 2026-M9, Class A, 1.57%, 1/25/2033(f)
892
789
Series 2026-M9, Class A2, 1.57%, 1/25/2033(f)
4,168
3,512
Series 2023-M8, Class A2, 4.48%, 3/25/2033(f)
3,290
3,281
Series 2021-M3, Class X1, IO, 1.83%, 11/25/2033(f)
2,317
129
Series 2026-M10, Class X1, IO, 0.00%, 7/25/2035
22,718
3
Series 2026-M10, Class A2, 1.85%, 7/25/2035(f)
16,461
13,940
Series 2026-M10, Class PS, 1.85%, 7/25/2035(f)
3,373
2,940
FREMF Mortgage Trust
Series 2019-KBF3, Class B, 6.26%, 1/25/2029(b) (f)
1,230
1,222
Series 2019-K101, Class B, 3.53%, 10/25/2052(b) (f)
175
166
Series 2019-K100, Class B, 3.50%, 11/25/2052(b) (f)
175
167
Series 2020-K737, Class B, 3.33%, 1/25/2053(b) (f)
550
546
Series 2019-K96, Class C, 3.81%, 8/25/2056(b) (f)
7,251
6,914
Ladder Capital Commercial Mortgage Trust Series 2013-GCP, Class A2, 3.99%, 2/15/2036(b)
998
932
MRCD MARK Mortgage Trust
Series 2019-PARK, Class A, 2.72%, 12/15/2036(b)
2,050
1,845
Series 2019-PARK, Class D, 2.72%, 12/15/2036(b)
2,685
1,972
PRM7 Trust Series 2025-PRM7, Class C, 4.94%, 11/10/2042(b) (f)
2,220
2,162
ROCK Trust
Series 2024-CNTR, Class A, 5.39%, 11/13/2041(b)
1,885
1,912
Series 2024-CNTR, Class C, 6.47%, 11/13/2041(b)
5,000
5,136
RWC Commercial Mortgage Trust Series 2025-1, Class A, 5.01%, 6/27/2040(b)
6,895
6,831
SLG Office Trust Series 2021-OVA, Class A, 2.59%, 7/15/2041(b)
4,355
3,882
WFRBS Commercial Mortgage Trust Series 2013-C11, Class D, 4.22%, 3/15/2045(b) (f)
365
333
WHARF Commercial Mortgage Trust Series 2025-DC, Class B, 5.54%, 7/15/2040(b) (f)
8,000
8,081
Total Commercial Mortgage-Backed Securities
(Cost $122,103)
119,389
Foreign Government Securities — 0.7%
Eagle Funding Luxco SARL 5.50%, 8/17/2030(b)
5,966
5,996
Kingdom of Saudi Arabia 3.45%, 2/2/2061(b)
550
351
Republic of Chile 2.55%, 1/27/2032
497
442
Republic of Panama 5.23%, 2/23/2034
1,830
1,815
Republic of Peru 5.63%, 11/18/2050
88
85
Republic of Poland 5.50%, 3/18/2054
921
853

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
Foreign Government Securities — continued
United Mexican States
6.00%, 5/13/2030
1,061
1,094
2.66%, 5/24/2031
1,075
953
5.85%, 7/2/2032
2,316
2,342
5.38%, 3/22/2033
6,819
6,675
5.63%, 2/9/2034
1,194
1,174
3.50%, 2/12/2034
1,252
1,067
5.63%, 9/22/2035
1,940
1,882
6.88%, 5/13/2037
1,578
1,652
6.63%, 1/29/2038
1,445
1,476
5.55%, 1/21/2045
33
30
4.60%, 1/23/2046
3,588
2,776
6.34%, 5/4/2053
310
290
3.77%, 5/24/2061
772
464
Total Foreign Government Securities
(Cost $33,008)
31,417
Municipal Bonds — 0.2% (h)
California — 0.0% ^
City of Los Angeles Department of Airports, Federally Taxable Build America Bonds Direct Payment to Issuer Series 2009C,
Rev., 6.58%, 5/15/2039
355
380
State of California, Various Purpose, GO, 7.30%, 10/1/2039
350
400
Total California
780
New York — 0.1%
New York State Dormitory Authority, State Personal Income Tax, General Purpose Series 2010D, Rev., 5.60%, 3/15/2040
16
16
Port Authority of New York and New Jersey, Consolidated
Series 164, Rev., 5.65%, 11/1/2040
1,875
1,960
Series 165, Rev., 5.65%, 11/1/2040
440
460
Series 174, Rev., 4.46%, 10/1/2062
2,060
1,704
Total New York
4,140
Ohio — 0.1%
American Municipal Power, Inc., Meldahl Hydroelectric Project Series 2010B, Rev., 7.50%, 2/15/2050
1,255
1,445
Ohio State University (The), General Receipts Series 2011A, Rev., 4.80%, 6/1/2111
1,563
1,272
Ohio University, General Receipts, Federally Taxable Series 2014, Rev., 5.59%, 12/1/2114
200
181
Total Ohio
2,898
Oklahoma — 0.0% ^
Oklahoma Development Finance Authority, Natural Gas Co. Series 2022, Rev., 4.71%, 5/1/2052
575
523
Texas — 0.0% ^
Texas Natural Gas Securitization Finance Corp., Customer Rate Relief Bonds
Series 2023A-1, Rev., 5.10%, 4/1/2035
542
552
Series 2023A-2, Rev., 5.17%, 4/1/2041
1,155
1,160
Total Texas
1,712
Total Municipal Bonds
(Cost $10,588)
10,053
U.S. Government Agency Securities — 0.2%
FHLB
5.50%, 7/15/2036
30
32

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
INVESTMENTS
PRINCIPAL
AMOUNT
($000)
VALUE
($000)
U.S. Government Agency Securities — continued
Tennessee Valley Authority
5.88%, 4/1/2036
6,909
7,615
4.63%, 9/15/2060
365
320
4.25%, 9/15/2065
51
41
Tennessee Valley Authority STRIPS
DN, 6.19%, 6/15/2035(a)
800
521
Total U.S. Government Agency Securities
(Cost $9,280)
8,529
Loan Assignments — 0.0% (c) (i) ^
Consumer Finance — 0.0% ^
OneSky Loan Trust, 1st Lien Term Loan A, 3.88%, 1/15/2031
(Cost $1,752)
1,741
1,671
 
SHARES
(000)
Short-Term Investments — 1.3%
Investment Companies — 1.3%
JPMorgan Prime Money Market Fund Class Institutional Shares, 3.64%(j) (k)
(Cost $62,462)
62,453
62,466
Total Investments — 100.4%
(Cost $4,782,697)
4,673,481
Liabilities in Excess of Other Assets — (0.4)%
(18,622
)
NET ASSETS — 100.0%
4,654,859

Percentages indicated are based on net assets.

Amounts presented as a dash ("-") represent amounts that round to less than a thousand.
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 May 31, 2026.
CME
Chicago Mercantile Exchange
DN
Discount Notes
FHLB
Federal Home Loan Bank
FHLMC
Federal Home Loan Mortgage Corp.
FNMA
Federal National Mortgage Association
GNMA
Government National Mortgage Association
GO
General Obligation
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 May 31, 2026. The rate may be subject to a cap and floor.
IO
Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown
represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or
refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably.
PO
Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is
extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on
these securities increases.
REIT
Real Estate Investment Trust
REMIC
Real Estate Mortgage Investment Conduit

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
Rev.
Revenue
SOFR
Secured Overnight Financing Rate
SOFRINDX
Compounding index of the 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
^
Amount rounds to less than 0.1% of net assets.
Value determined using significant unobservable inputs.
 
(a)
The rate shown is the effective yield as of May 31, 2026.
 
(b)
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended.
 
(c)
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of May 31, 2026.
 
(d)
Contingent Capital security (“CoCo”). CoCos are hybrid debt securities that may be convertible into equity or may be written down if a
pre-specified trigger event occurs. The total value of aggregate CoCo holdings at May 31, 2026 is $533 or 0.01% of the Fund’s net assets as
of May 31, 2026.
 
(e)
All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment.
 
(f)
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 May 31, 2026.
 
(g)
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 May 31, 2026.
 
(h)
The date shown represents the earliest of the prerefunded date, next put date or final maturity date.
 
(i)
Loan assignments are presented by obligor. Each series or loan tranche underlying each obligor may have varying terms.
 
(j)
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.
 
(k)
The rate shown is the current yield as of May 31, 2026.
 
Futures contracts outstanding as of May 31, 2026 (amounts in thousands, except number of contracts):
DESCRIPTION
NUMBER OF
CONTRACTS
EXPIRATION DATE
TRADING CURRENCY
NOTIONAL
AMOUNT ($)
VALUE AND
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
Long Contracts
U.S. Treasury Long Bond
882
09/21/2026
USD
99,142
1,645
U.S. Treasury Ultra Bond
571
09/21/2026
USD
65,451
1,451
U.S. Treasury 2 Year Note
1,680
09/30/2026
USD
347,130
717
U.S. Treasury 5 Year Note
525
09/30/2026
USD
56,319
353
 
4,166
Short Contracts
U.S. Treasury 10 Year Note
(749
)
09/21/2026
USD
(82,308
)
(768
)
U.S. Treasury 10 Year Ultra Note
(1,765
)
09/21/2026
USD
(198,039
)
(2,606
)
 
(3,374
)
 
792
Abbreviations
 
USD
United States Dollar

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (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 "1940 Act"), the Board is required to determine fair value for securities that do not have readily available market quotations. Pursuant to Rule 2a-5 under the 1940 Act (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 Fund 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 Fund. 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.
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 using prices supplied 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.
Futures contracts are generally valued on the basis of available market quotations.
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 May 31, 2026.
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.

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
(Dollar values in thousands)
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
$
$449,305
$79,481
$528,786
Collateralized Mortgage Obligations
201,500
23,072
224,572
Commercial Mortgage-Backed Securities
119,389
119,389
Corporate Bonds
Aerospace & Defense
24,729
24,729
Air Freight & Logistics
105
105
Automobiles
2,411
2,411
Banks
340,482
340,482
Beverages
5,254
5,254
Biotechnology
25,258
25,258
Broadline Retail
5,623
5,623
Building Products
1,331
1,331
Capital Markets
103,375
103,375
Chemicals
8,788
8,788
Commercial Services & Supplies
6,132
6,132
Communications Equipment
1,631
1,631
Construction & Engineering
4,029
4,029
Construction Materials
909
909
Consumer Finance
48,993
48,993
Consumer Staples Distribution & Retail
1,999
1,999
Containers & Packaging
3,456
3,456
Diversified
4,148
4,148
Diversified Consumer Services
1,088
1,088
Diversified REITs
5,840
5,840
Diversified Telecommunication Services
19,171
19,171
Electric Utilities
105,523
105,523
Electrical Equipment
2,966
2,966
Electronic Equipment, Instruments & Components
3,180
3,180
Energy Equipment & Services
2,823
2,823
Financial Services
16,119
37,420
53,539
Food Products
22,838
22,838
Gas Utilities
2,969
2,969
Ground Transportation
3,225
3,225
Health Care Equipment & Supplies
3,643
3,643
Health Care Providers & Services
36,514
8,018
44,532
Health Care REITs
3,689
3,689
Hotels, Restaurants & Leisure
2,092
2,092
Independent Power and Renewable Electricity Producers
4,957
4,957
Industrial REITs
1,520
1,520
Insurance
17,417
17,417
Interactive Media & Services
19,724
19,724
IT Services
2,648
2,648
Life Sciences Tools & Services
2,454
2,454
Machinery
526
526
Media
8,429
8,429

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
(Dollar values in thousands)
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
Metals & Mining
$
$9,532
$
$9,532
Mortgage Real Estate Investment Trusts (REITs)
3,000
3,000
Multi-Utilities
11,769
11,769
Office REITs
314
314
Oil, Gas & Consumable Fuels
56,598
56,598
Passenger Airlines
741
741
Pharmaceuticals
10,356
10,356
Residential REITs
4,886
4,886
Retail REITs
2,845
2,845
Semiconductors & Semiconductor Equipment
25,012
25,012
Software
19,745
19,745
Specialized REITs
7,002
7,002
Specialty Retail
2,142
2,142
Technology Hardware, Storage & Peripherals
6,859
6,859
Tobacco
3,378
3,378
Trading Companies & Distributors
3,590
3,590
Water Utilities
771
771
Wireless Telecommunication Services
4,859
4,859
Total Corporate Bonds
1,044,259
52,586
1,096,845
Foreign Government Securities
31,417
31,417
Loan Assignments
1,671
1,671
Mortgage-Backed Securities
891,761
891,761
Municipal Bonds
10,053
10,053
U.S. Government Agency Securities
8,529
8,529
U.S. Treasury Obligations
1,697,992
1,697,992
Short-Term Investments
Investment Companies
62,466
62,466
Total Investments in Securities
$62,466
$4,455,876
$155,139
$4,673,481
Appreciation in Other Financial Instruments
Futures Contracts
$4,166
$
$
$4,166
Depreciation in Other Financial Instruments
Futures Contracts
$(3,374
)
$
$
$(3,374
)
Total Net Appreciation/ Depreciation in Other
Financial Instruments
$792
$
$
$792

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (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,
2026
Realized
gain (loss)
Change in net
unrealized
appreciation
(depreciation)
Net
accretion
(amortization)
Purchases1
Sales2
Transfers
into
Level 3
Transfers
out of
Level 3
Other(a)
Balance as of
May 31,
2026
Investments in Securities:
Asset-Backed Securities
$71,152
$118
$(614
)
$6
$23,098
$(4,499
)
$
$(5,490
)
$(4,290
)
$79,481
Collateralized Mortgage Obligations
19,283
(63
)
5
2,709
(762
)
(4,373
)
6,273
23,072
Commercial Mortgage-Backed Securities
1,983
(1,983
)
Corporate Bonds
37,196
(b)
(65
)
(12
)
17,663
(2,196
)
52,586
Total
$129,614
$118
$(742
)
$(1
)
$43,470
$(7,457
)
$
$(9,863
)
$
$155,139

 
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)
Certain Level 3 investments were re-classified between Asset-Backed Securities, Commercial Mortgage-Backed Securities, and Collateralized
Mortgage Obligations.
(b)
Amount rounds to less than one thousand.
The changes in net unrealized appreciation (depreciation) attributable to securities owned at May 31, 2026, which were valued using significant unobservable inputs (level 3) amounted to $(651).
There were no significant transfers into or out of level 3 for the period ended May 31, 2026.
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 May 31, 2026
Valuation Technique(s)
Unobservable Input
Range (Weighted Average) (a)
 
$45,825
Discounted Cash Flow
Yield (Discount Rate of Cash Flows)
6.18% - 13.00% (8.95%)
 
 
 
 
Corporate Bonds
45,825
 
 
 
 
15,019
Discounted Cash Flow
Constant Default Rate
0.00% - 40.42% (3.41%)
 
 
Yield (Discount Rate of Cash Flows)
5.31% - 17.04% (7.24%)
 
 
 
 
Asset-Backed Securities
15,019
 
 
 
Total
$60,844
 
 
 
#
The table above does not include certain level 3 investments that are valued by brokers and Pricing Services. At May 31, 2026, the value of
these investments was $94,295. The inputs for these investments are not readily available or cannot be reasonably estimated and are generally
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 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.

JPMorgan Core Bond Trust
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2026 (Unaudited) (continued)
(Dollar values in thousands)
The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.
 
For the period ended May 31, 2026
Security Description
Value at
February 28,
2026
Purchases at
Cost
Proceeds from
Sales
Net Realized
Gain (Loss)
Change in
Unrealized
Appreciation/
(Depreciation)
Value at
May 31,
2026
Shares at
May 31,
2026
Dividend
Income
Capital Gain
Distributions
JPMorgan Prime Money Market Fund
Class Institutional Shares, 3.64% (a) (b)
$81,659
$287,384
$306,561
$(15
)
$(1
)
$62,466
62,453
$712
$

 
(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 May 31, 2026.