# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0001752724-23-066035
**Filing Date:** 2023-3
**Character Count:** 52796
**Document Hash:** a88dd236fffeb52c5453d0f55ded786d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-066035.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-066035

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Trust I
- **CENTRAL INDEX KEY:** 0001217286
- **IRS NUMBER:** 331043149
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 23761606

**BUSINESS ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172
- **BUSINESS PHONE:** 800-480-4111

**MAIL ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JP MORGAN MUTUAL FUND SERIES
- **DATE OF NAME CHANGE:** 20030204

## Series and Classes Contracts Data

### JPMorgan Europe Dynamic Fund (Series ID: S000002662)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007293 | Class I      | JFESX           |
| C000007294 | Class L      | JFEIX           |
| C000007295 | Class A      | VEUAX           |
| C000007297 | Class C      | VEUCX           |
| C000205200 | Class R6     | VEUVX           |

## Nport-Ex

**JPMorgan Europe Dynamic Fund**

**Schedule of Portfolio Investments as of January 31, 2023**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2023. |

---

------

**JPMorgan Europe Dynamic Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE** <br>**($000)**<br>|
| **Common Stocks — 98.4%** | **Common Stocks — 98.4%** | **Common Stocks — 98.4%** |
| **Australia — 2.2%** | **Australia — 2.2%** | **Australia — 2.2%** |
| &nbsp;&nbsp;&nbsp; Glencore plc | 2107 | 14111 |
| **Austria — 2.3%** | **Austria — 2.3%** | **Austria — 2.3%** |
| &nbsp;&nbsp;&nbsp; ANDRITZ AG | 111 | 6663 |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | 202 | 7647 |
|  |  | &nbsp;&nbsp; 14310 |
| **Denmark — 5.3%** | **Denmark — 5.3%** | **Denmark — 5.3%** |
| &nbsp;&nbsp;&nbsp; Carlsberg A/S, Class B | 49 | 6967 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B | 191 | 26405 |
|  |  | &nbsp;&nbsp; 33372 |
| **Finland — 2.5%** | **Finland — 2.5%** | **Finland — 2.5%** |
| &nbsp;&nbsp;&nbsp; Neste OYJ | 107 | 5107 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp; 936 | &nbsp;&nbsp; 10939 |
|  |  | &nbsp;&nbsp; 16046 |
| **France — 21.6%** | **France — 21.6%** | **France — 21.6%** |
| &nbsp;&nbsp;&nbsp; Arkema SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp; 8924 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp; 9476 |
| &nbsp;&nbsp;&nbsp; Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 9547 |
| &nbsp;&nbsp;&nbsp; Engie SA | &nbsp;&nbsp;&nbsp;&nbsp; 571 | &nbsp;&nbsp;&nbsp;&nbsp; 8108 |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp; 29096 |
| &nbsp;&nbsp;&nbsp; Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 8956 |
| &nbsp;&nbsp;&nbsp; Sanofi | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp; 12695 |
| &nbsp;&nbsp;&nbsp; SPIE SA | &nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp; 4566 |
| &nbsp;&nbsp;&nbsp; Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 4149 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp; 20725 |
| &nbsp;&nbsp;&nbsp; Verallia SA (a) | &nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp; 7087 |
| &nbsp;&nbsp;&nbsp; Vinci SA | &nbsp;&nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp; 13791 |
|  |  | 137120 |
| **Germany — 19.1%** | **Germany — 19.1%** | **Germany — 19.1%** |
| &nbsp;&nbsp;&nbsp; AIXTRON SE | &nbsp;&nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp; 5427 |
| &nbsp;&nbsp;&nbsp; Allianz SE (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp; 15008 |
| &nbsp;&nbsp;&nbsp; Brenntag SE | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 8402 |
| &nbsp;&nbsp;&nbsp; CTS Eventim AG & Co. KGaA \* | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 7967 |
| &nbsp;&nbsp;&nbsp; Deutsche Boerse AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp; 10136 |
| &nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG (Registered) \* | &nbsp;&nbsp;&nbsp; 1082 | &nbsp;&nbsp; 11459 |
| &nbsp;&nbsp;&nbsp; Dr Ing hc F Porsche AG (Preference) \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp; 8276 |
| &nbsp;&nbsp;&nbsp; Duerr AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp; 3339 |
| &nbsp;&nbsp;&nbsp; HUGO BOSS AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 6350 |
| &nbsp;&nbsp;&nbsp; Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp; 261 | &nbsp;&nbsp;&nbsp;&nbsp; 9388 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp; 10048 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp; 11353 |
| &nbsp;&nbsp;&nbsp; RWE AG | &nbsp;&nbsp;&nbsp;&nbsp; 217 | &nbsp;&nbsp;&nbsp;&nbsp; 9678 |
| &nbsp;&nbsp;&nbsp; VERBIO Vereinigte BioEnergie AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 3993 |
|  |  | 120824 |

---

------

**JPMorgan Europe Dynamic Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Hong Kong — 1.8%** | **Hong Kong — 1.8%** | **Hong Kong — 1.8%** |
| &nbsp;&nbsp;&nbsp; Prudential plc | 677 | 11255 |
| **Ireland — 5.4%** | **Ireland — 5.4%** | **Ireland — 5.4%** |
| &nbsp;&nbsp;&nbsp; AIB Group plc | 1717 | 7214 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc | 883 | 9447 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc | 26 | 273 |
| &nbsp;&nbsp;&nbsp; Ryanair Holdings plc, ADR \* | 89 | 8068 |
| &nbsp;&nbsp;&nbsp; Smurfit Kappa Group plc | 224 | 9420 |
|  |  | &nbsp;&nbsp; 34422 |
| **Italy — 2.6%** | **Italy — 2.6%** | **Italy — 2.6%** |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | 835 | 16308 |
| **Netherlands — 5.9%** | **Netherlands — 5.9%** | **Netherlands — 5.9%** |
| &nbsp;&nbsp;&nbsp; Alfen N.V. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 4774 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp; 10209 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp; 449 | &nbsp;&nbsp; 13413 |
| &nbsp;&nbsp;&nbsp; NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp; 8901 |
|  |  | &nbsp;&nbsp; 37297 |
| **Norway — 0.7%** | **Norway — 0.7%** | **Norway — 0.7%** |
| &nbsp;&nbsp;&nbsp; Aker Solutions ASA (a) | &nbsp;&nbsp;&nbsp; 1078 | &nbsp;&nbsp;&nbsp;&nbsp; 4263 |
| **Spain — 3.2%** | **Spain — 3.2%** | **Spain — 3.2%** |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA | &nbsp;&nbsp;&nbsp; 7201 | &nbsp;&nbsp;&nbsp;&nbsp; 9414 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | &nbsp;&nbsp;&nbsp;&nbsp; 354 | &nbsp;&nbsp; 11061 |
|  |  | &nbsp;&nbsp; 20475 |
| **Sweden — 1.5%** | **Sweden — 1.5%** | **Sweden — 1.5%** |
| &nbsp;&nbsp;&nbsp; Hexatronic Group AB | &nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp; 5259 |
| &nbsp;&nbsp;&nbsp; New Wave Group AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 3947 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9206 |
| **Switzerland — 6.7%** | **Switzerland — 6.7%** | **Switzerland — 6.7%** |
| &nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp; 11559 |
| &nbsp;&nbsp;&nbsp; Novartis AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp; 18860 |
| &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 12350 |
|  |  | &nbsp;&nbsp; 42769 |
| **United Kingdom — 10.6%** | **United Kingdom — 10.6%** | **United Kingdom — 10.6%** |
| &nbsp;&nbsp;&nbsp; 3i Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 472 | &nbsp;&nbsp;&nbsp;&nbsp; 9214 |
| &nbsp;&nbsp;&nbsp; Ashtead Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 8287 |
| &nbsp;&nbsp;&nbsp; Barclays plc | &nbsp;&nbsp;&nbsp; 4774 | &nbsp;&nbsp; 10973 |
| &nbsp;&nbsp;&nbsp; BP plc | &nbsp;&nbsp;&nbsp; 3097 | &nbsp;&nbsp; 18708 |
| &nbsp;&nbsp;&nbsp; Inchcape plc | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 4512 |
| &nbsp;&nbsp;&nbsp; JD Sports Fashion plc | &nbsp;&nbsp;&nbsp; 3126 | &nbsp;&nbsp;&nbsp;&nbsp; 6301 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc | 14268 | &nbsp;&nbsp;&nbsp;&nbsp; 9286 |
|  |  | &nbsp;&nbsp; 67281 |
| **United States — 7.0%** | **United States — 7.0%** | **United States — 7.0%** |
| &nbsp;&nbsp;&nbsp; Nestle SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 217 | &nbsp;&nbsp; 26459 |

---

------

**JPMorgan Europe Dynamic Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; <br> **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — continued** | **United States — continued** | **United States — continued** |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | 62 | 10107 |
| &nbsp;&nbsp;&nbsp; Stellantis NV | 510 | 8014 |
|  |  | &nbsp;&nbsp; 44580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $522,248)<br>|  | 623639 |
| **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** | **Short-Term Investments — 3.9%** |
| **Investment Companies — 3.9%** | **Investment Companies — 3.9%** | **Investment Companies — 3.9%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class Institutional Shares, 4.45% (b) (c)(Cost $24,747) | 24733 | 24748 |
| **Total Investments — 102.3%** <br>**(Cost $546,995)**<br>|  | **648387** |
| **Liabilities in Excess of Other Assets — (2.3)%** |  | **(14444)** |
| **NET ASSETS — 100.0%** |  | **633943** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages indicated are based on net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ADR | American Depositary Receipt |
| OYJ | Public Limited Company |
| Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference <br> shares may also have liquidation preference.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security. 

(a) Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. 

(b) 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. 

(c) The rate shown is the current yield as of January 31, 2023.

------

**JPMorgan Europe Dynamic Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

**Summary of Investments by Industry, January 31, 2023**

The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:

---

| | |
|:---|:---|
| **INDUSTRY** | **PERCENT OF** <br>**TOTAL** <br>**INVESTMENTS**<br>|
| Banks | 14.0% |
| Insurance | &nbsp;&nbsp; 9.1 |
| Pharmaceuticals | &nbsp;&nbsp; 8.9 |
| Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 7.9 |
| Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 7.5 |
| Food Products | &nbsp;&nbsp; 4.1 |
| Automobiles | &nbsp;&nbsp; 4.1 |
| Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 3.9 |
| Electrical Equipment | &nbsp;&nbsp; 3.1 |
| Airlines | &nbsp;&nbsp; 3.0 |
| Capital Markets | &nbsp;&nbsp; 3.0 |
| Specialty Retail | &nbsp;&nbsp; 2.7 |
| Trading Companies & Distributors | &nbsp;&nbsp; 2.6 |
| Containers & Packaging | &nbsp;&nbsp; 2.5 |
| Beverages | &nbsp;&nbsp; 2.4 |
| Metals & Mining | &nbsp;&nbsp; 2.2 |
| Construction & Engineering | &nbsp;&nbsp; 2.1 |
| Food & Staples Retailing | &nbsp;&nbsp; 2.1 |
| Machinery | &nbsp;&nbsp; 1.5 |
| Independent Power and Renewable Electricity Producers | &nbsp;&nbsp; 1.5 |
| IT Services | &nbsp;&nbsp; 1.5 |
| Chemicals | &nbsp;&nbsp; 1.4 |
| Multi-Utilities | &nbsp;&nbsp; 1.2 |
| Entertainment | &nbsp;&nbsp; 1.2 |
| Others (each less than 1.0%) | &nbsp;&nbsp; 2.7 |
| Short-Term Investments | &nbsp;&nbsp; 3.8 |

---

**Futures contracts outstanding as of January 31, 2023 (amounts in thousands, except number of contracts):**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | &nbsp;&nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| **EXPIRATION DATE** | **TRADING CURRENCY** | &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT ($)**<br>| &nbsp;&nbsp;&nbsp; **VALUE AND** <br>**UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| **Long Contracts** |  |  |  |  |  |
| EURO STOXX 50 Index | 112 | 03/17/2023 | EUR | 5103 | 312 |
| FTSE 100 Index | &nbsp;&nbsp; 28 | 03/17/2023 | GBP | 2682 | &nbsp;&nbsp; 72 |
|  |  |  |  |  | 384 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| EUR | Euro |
| FTSE | Financial Times and the London Stock Exchange |
| GBP | British Pound |

---

------

**JPMorgan Europe Dynamic Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**A. Valuation of Investments** — Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of Investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values ("NAV") of the Fund is calculated on a valuation date. Certain foreign equity instruments are valued by applying international fair value factors provided by approved Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAV is calculated.

Investments in open-end investment companies ("Underlying Funds") are valued at each Underlying Fund's NAV per share as of the report date.

Futures contracts are generally valued on the basis of available market quotations.

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

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks | $| $| $| $|
| &nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14111 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14111 |
| &nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14310 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14310 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33372 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33372 |
| &nbsp;&nbsp;&nbsp; Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16046 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16046 |
| &nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 137120 | &nbsp;&nbsp; — | &nbsp;&nbsp; 137120 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 120824 | &nbsp;&nbsp; — | &nbsp;&nbsp; 120824 |

---

------

**JPMorgan Europe Dynamic Fund** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued) <br>(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Hong Kong | $— | $11255 | $— | $11255 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp; 8068 | &nbsp;&nbsp;&nbsp;&nbsp; 26354 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34422 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16308 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16308 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37297 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37297 |
| &nbsp;&nbsp;&nbsp; Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4263 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4263 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20475 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20475 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9206 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9206 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42769 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42769 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 67281 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 67281 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44580 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44580 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 8068 | &nbsp;&nbsp; 615571 | &nbsp;&nbsp; — | &nbsp;&nbsp; 623639 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp; 24748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24748 |
| **Total Investments in Securities** | $32816 | $615571 | $— | $648387 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts | $384 | $— | $— | $384 |

---

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2022**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**January 31,** <br>**2023**<br>| **Shares at** <br>**January 31,** <br>**2023**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund <br> Class Institutional Shares, 4.45% (a) (b)<br>| $6343 | $89175 | $70774 | $3 | $1 | $24748 | 24733 | $82 | $—(c) |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund <br> Agency SL Class Shares, 4.57% (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 24002 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund <br> Class IM Shares, 4.15% (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 48618 | &nbsp;&nbsp;&nbsp;&nbsp; 48618 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; — |
| **Total** | $6343 | $161793 | $143394 | $5 | $1 | $24748 |  | $147 | $—(c) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(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 January 31, 2023.

(c) Amount rounds to less than one thousand.

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** JPMorgan Trust I

- **b. Investment Company Act file number:** 811-21295

- **c. CIK number of Registrant:** 0001217286

- **d. LEI of Registrant:** 549300DM5WZMCZZ70R78

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 277 Park Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

  - **Telephone number:** 800-480-4111

**Item A.2. Information about the Series.**

- **a. Name of Series:** JPMorgan Europe Dynamic Fund

- **b. EDGAR series identifier (if any):** S000002662

- **c. LEI of Series:** H40KNBC4QSZM6KZETD45

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $640469192.54

**Total Liabilities:** $5501704.39

**Net Assets:** $634967488.15

**Cash Not Reported:** $651240.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007293 | 11.57%               | -1.45%               | 9.10%                |
| Class ID C000007294 | 11.57%               | -1.41%               | 9.08%                |
| Class ID C000205200 | 11.58%               | -1.39%               | 9.07%                |
| Class ID C000007297 | 11.51%               | -1.52%               | 9.01%                |
| Class ID C000007295 | 11.56%               | -1.48%               | 9.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-922045.53              | $62723703.41                               |
| Month 2  | $-2682743.09             | $-5819020.52                               |
| Month 3  | $1380759.67              | $50509721.95                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                          | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CTS Eventim AG & Co. KGaA                     | CTS Eventim AG & Co. KGaA                                  | CUSIP: N/A<br>LEI: 529900FDHSN08UBJII80       | Long             | EC               | CORP              | DE        |    113490 | NS      | $7966628.84   | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Prime Money Market Fund              | JPMorgan Prime Money Market Fund, Class Institutional      | CUSIP: 4812A2603<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |  24733268 | NS      | $24748108.36  | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG | Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |     31430 | NS      | $11352753.53  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| NN Group NV                                   | NN Group NV                                                | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |    204853 | NS      | $8900468.77   | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| RWE AG                                        | RWE AG                                                     | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |    217397 | NS      | $9678274.49   | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi                                        | Sanofi                                                     | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |    129640 | NS      | $12694929.02  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| New Wave Group AB                             | New Wave Group AB, Class B                                 | CUSIP: N/A<br>LEI: 5493006EIYZZYQILKS31       | Long             | EC               | CORP              | SE        |    175401 | NS      | $3946734.78   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Brenntag SE                                   | Brenntag SE                                                | CUSIP: N/A<br>LEI: NNROIXVWJ7CPSR27SV97       | Long             | EC               | CORP              | DE        |    112559 | NS      | $8402310.71   | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit Kappa Group plc                       | Smurfit Kappa Group plc                                    | CUSIP: N/A<br>LEI: 635400CPLP8H5ITDVT56       | Long             | EC               | CORP              | IE        |    224359 | NS      | $9419606.70   | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Inchcape plc                                  | Inchcape plc                                               | CUSIP: N/A<br>LEI: 213800RGEH1MPPNM2T57       | Long             | EC               | CORP              | GB        |    400199 | NS      | $4512133.91   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                            | Deutsche Boerse AG                                         | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |     56641 | NS      | $10135470.98  | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| AIXTRON SE                                    | AIXTRON SE                                                 | CUSIP: N/A<br>LEI: 5299004UJ4D51M25LD67       | Long             | EC               | CORP              | DE        |    182136 | NS      | $5426840.72   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                        | Mercedes-Benz Group AG                                     | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |    135033 | NS      | $10048079.43  | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | EURO STOXX 50 Index                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |       269 | NC      | $479689.59    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Neste OYJ                                     | Neste OYJ                                                  | CUSIP: N/A<br>LEI: 5493009GY1X8GQ66AM14       | Long             | EC               | CORP              | FI        |    106833 | NS      | $5106863.37   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays plc                                  | Barclays plc                                               | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |   4773622 | NS      | $10973565.35  | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                      | Lloyds Banking Group plc                                   | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        |  14268376 | NS      | $9285799.73   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group plc                     | Bank of Ireland Group plc                                  | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               | CORP              | IE        |     25599 | NS      | $273495.67    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                | BNP Paribas SA                                             | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    137973 | NS      | $9476243.64   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria de Diseno Textil SA                 | Industria de Diseno Textil SA                              | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |    290453 | NS      | $9068180.32   | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Hexatronic Group AB                           | Hexatronic Group AB                                        | CUSIP: N/A<br>LEI: 2138001VSY1B4U9JLM82       | Long             | EC               | CORP              | SE        |    427288 | NS      | $5259257.66   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                                     | Thales SA                                                  | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |     31374 | NS      | $4149503.10   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| VERBIO Vereinigte BioEnergie AG               | VERBIO Vereinigte BioEnergie AG                            | CUSIP: N/A<br>LEI: 529900W51PINCFFALS96       | Long             | EC               | CORP              | DE        |     63334 | NS      | $3992585.83   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinci SA                                      | Vinci SA                                                   | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |    122052 | NS      | $13790604.18  | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE           | LVMH Moet Hennessy Louis Vuitton SE                        | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |     33330 | NS      | $29096272.00  | 4.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential plc                                | Prudential plc                                             | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |    677396 | NS      | $11254983.23  | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore plc                                  | Glencore plc                                               | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |   2107038 | NS      | $14110597.52  | 2.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group plc                     | Bank of Ireland Group plc                                  | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               | CORP              | IE        |    882682 | NS      | $9446789.02   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider Electric SE                         | Schneider Electric SE                                      | CUSIP: N/A<br>LEI: 969500A1YF1XUYYXS284       | Long             | EC               | CORP              | FR        |     62308 | NS      | $10107329.47  | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco de Sabadell SA                          | Banco de Sabadell SA                                       | CUSIP: N/A<br>LEI: SI5RG2M0WQQLZCXKRM20       | Long             | EC               | CORP              | ES        |   6276121 | NS      | $8205180.78   | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA                   | Cie Financiere Richemont SA (Registered)                   | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |     74984 | NS      | $11559333.16  | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| 3i Group plc                                  | 3i Group plc                                               | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |    472272 | NS      | $9213908.80   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                        | BP plc                                                     | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   3097237 | NS      | $18708100.42  | 2.95%             |  |  |  | No            |                  2 | On Loan: No      |
| HUGO BOSS AG                                  | HUGO BOSS AG                                               | CUSIP: N/A<br>LEI: 529900LFVU534EBRXD13       | Long             | EC               | CORP              | DE        |     93512 | NS      | $6350415.07   | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                 | Koninklijke Ahold Delhaize NV                              | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |    449390 | NS      | $13412929.79  | 2.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                               | ASML Holding NV                                            | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |     15430 | NS      | $10209221.23  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Lufthansa AG                         | Deutsche Lufthansa AG (Registered)                         | CUSIP: N/A<br>LEI: 529900PH63HYJ86ASW55       | Long             | EC               | CORP              | DE        |   1081575 | NS      | $11458974.47  | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG                           | Erste Group Bank AG                                        | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |    201533 | NS      | $7646995.67   | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                              | Novo Nordisk A/S, Class B                                  | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |    190799 | NS      | $26404650.14  | 4.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                    | Allianz SE (Registered)                                    | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |     62765 | NS      | $15007982.12  | 2.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Dr Ing hc F Porsche AG                        | Dr Ing hc F Porsche AG (Preference)                        | CUSIP: N/A<br>LEI: 529900EWEX125AULXI58       | Long             | EC               | CORP              | DE        |     69609 | NS      | $8276424.97   | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| JD Sports Fashion plc                         | JD Sports Fashion plc                                      | CUSIP: N/A<br>LEI: 213800HROV6Y9MUU8375       | Long             | EC               | CORP              | GB        |   2127884 | NS      | $4289009.56   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB Group plc                                 | AIB Group plc                                              | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |   1717436 | NS      | $7214243.49   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | FTSE 100 Index                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |        68 | NC      | $98831.38     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Arkema SA                                     | Arkema SA                                                  | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |     88196 | NS      | $8924356.73   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                      | Infineon Technologies AG                                   | CUSIP: N/A<br>LEI: TSI2PJM6EPETEQ4X1U25       | Long             | EC               | CORP              | DE        |    260697 | NS      | $9387815.25   | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| SPIE SA                                       | SPIE SA                                                    | CUSIP: N/A<br>LEI: 969500TJNS5GSFWJ8X85       | Long             | EC               | CORP              | FR        |    167253 | NS      | $4566051.86   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                     | Zurich Insurance Group AG                                  | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |     24973 | NS      | $12349871.04  | 1.94%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                 | UniCredit SpA                                              | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |    728238 | NS      | $14223312.76  | 2.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Duerr AG                                      | Duerr AG                                                   | CUSIP: N/A<br>LEI: 5299003APZ54EDTSRO20       | Long             | EC               | CORP              | DE        |     87526 | NS      | $3339460.54   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Stellantis NV                                 | Stellantis NV                                              | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |    509829 | NS      | $8014448.92   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| ANDRITZ AG                                    | ANDRITZ AG                                                 | CUSIP: N/A<br>LEI: 549300VZKC61IR5U8G96       | Long             | EC               | CORP              | AT        |    104284 | NS      | $6236341.47   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Ashtead Group plc                             | Ashtead Group plc                                          | CUSIP: N/A<br>LEI: 2138007UTBN8X9K1A235       | Long             | EC               | CORP              | GB        |    125807 | NS      | $8286757.63   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Carlsberg A/S                                 | Carlsberg A/S, Class B                                     | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |     35826 | NS      | $5085919.30   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                              | TotalEnergies SE                                           | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |    335239 | NS      | $20724741.42  | 3.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                      | Engie SA                                                   | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |    570963 | NS      | $8107601.56   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                     | Nestle SA (Registered)                                     | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |    216857 | NS      | $26458518.22  | 4.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                               | Nordea Bank Abp                                            | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |    750877 | NS      | $8778043.03   | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings plc                          | Ryanair Holdings plc                                       | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |     67116 | NS      | $6076011.48   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Alfen NV                                      | Alfen NV                                                   | CUSIP: N/A<br>LEI: 724500HDW6IWR9J5YT90       | Long             | EC               | CORP              | NL        |     51461 | NS      | $4774464.91   | 0.75%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Novartis AG                                   | Novartis AG (Registered)                                   | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    208604 | NS      | $18859695.93  | 2.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Verallia SA                                   | Verallia SA                                                | CUSIP: N/A<br>LEI: 5299007YZU978DE0ZY32       | Long             | EC               | CORP              | FR        |    191951 | NS      | $7087171.37   | 1.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Capgemini SE                                  | Capgemini SE                                               | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |     50302 | NS      | $9546593.06   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker Solutions ASA                            | Aker Solutions ASA                                         | CUSIP: N/A<br>LEI: 5967007LIEEXZXG42836       | Long             | EC               | CORP              | NO        |   1078301 | NS      | $4262820.49   | 0.67%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Pernod Ricard SA                              | Pernod Ricard SA                                           | CUSIP: N/A<br>LEI: 52990097YFPX9J0H5D87       | Long             | EC               | CORP              | FR        |     43261 | NS      | $8956327.23   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

**Name of Signer:** Timothy J. Clemens

**Title:** Treasurer and Principal Financial Officer