# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0002071691-25-001864
**Filing Date:** 2025-9
**Character Count:** 165282
**Document Hash:** 757d9c05fcf204af92bd0804ce753f0e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-001864.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-001864

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Trust I
- **CENTRAL INDEX KEY:** 0001217286

**ORGANIZATION NAME:**
- **EIN:** 331043149
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 251341879

**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 Developed International Value Fund (Series ID: S000002627)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007227 | Class I      | JIESX           |
| C000007228 | Class L      | JNUSX           |
| C000007229 | Class A      | JFEAX           |
| C000034831 | Class C      | JIUCX           |
| C000070620 | Class R2     | JPVZX           |
| C000093774 | Class R6     | JNVMX           |
| C000173219 | Class R5     | JPVRX           |

## Nport-Ex

**JPMorgan Developed International Value Fund**

**Schedule of Portfolio Investments as of July 31, 2025**

**(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., 2025. |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Common Stocks — 97.1%** | **Common Stocks — 97.1%** | **Common Stocks — 97.1%** |
| **Australia — 4.4%** | **Australia — 4.4%** | **Australia — 4.4%** |
| &nbsp;&nbsp;&nbsp; AGL Energy Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 652 | &nbsp;&nbsp;&nbsp;&nbsp; 4063 |
| &nbsp;&nbsp;&nbsp; BHP Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 793 | &nbsp;&nbsp;&nbsp;&nbsp; 20039 |
| &nbsp;&nbsp;&nbsp; Fortescue Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 419 | &nbsp;&nbsp;&nbsp;&nbsp; 4737 |
| &nbsp;&nbsp;&nbsp; Glencore plc | &nbsp;&nbsp;&nbsp;&nbsp; 1491 | &nbsp;&nbsp;&nbsp;&nbsp; 5983 |
| &nbsp;&nbsp;&nbsp; Insignia Financial Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1281 | &nbsp;&nbsp;&nbsp;&nbsp; 3692 |
| &nbsp;&nbsp;&nbsp; Perseus Mining Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp;&nbsp;&nbsp; 1376 |
| &nbsp;&nbsp;&nbsp; QBE Insurance Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 276 | &nbsp;&nbsp;&nbsp;&nbsp; 4093 |
| &nbsp;&nbsp;&nbsp; Rio Tinto plc | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 15579 |
| &nbsp;&nbsp;&nbsp; Ventia Services Group Pty. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp; 1472 |
| &nbsp;&nbsp;&nbsp; Yancoal Australia Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 591 | &nbsp;&nbsp;&nbsp;&nbsp; 2386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 63420 |
| **Austria — 1.3%** | **Austria — 1.3%** | **Austria — 1.3%** |
| &nbsp;&nbsp;&nbsp; BAWAG Group AG (b) | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 1777 |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 6070 |
| &nbsp;&nbsp;&nbsp; OMV AG | &nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp; 4394 |
| &nbsp;&nbsp;&nbsp; Telekom Austria AG | &nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp; 2200 |
| &nbsp;&nbsp;&nbsp; Vienna Insurance Group AG Wiener Versicherung Gruppe | &nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp; 4190 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18631 |
| **Belgium — 1.1%** | **Belgium — 1.1%** | **Belgium — 1.1%** |
| &nbsp;&nbsp;&nbsp; Ageas SA | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 3207 |
| &nbsp;&nbsp;&nbsp; Deme Group NV | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 2267 |
| &nbsp;&nbsp;&nbsp; KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 5347 |
| &nbsp;&nbsp;&nbsp; Proximus SADP | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp; 1781 |
| &nbsp;&nbsp;&nbsp; Umicore SA | &nbsp;&nbsp;&nbsp;&nbsp; 194 | &nbsp;&nbsp;&nbsp;&nbsp; 3062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15664 |
| **China — 0.6%** | **China — 0.6%** | **China — 0.6%** |
| &nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 864 | &nbsp;&nbsp;&nbsp;&nbsp; 3880 |
| &nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 2521 | &nbsp;&nbsp;&nbsp;&nbsp; 4944 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8824 |
| **Denmark — 1.2%** | **Denmark — 1.2%** | **Denmark — 1.2%** |
| &nbsp;&nbsp;&nbsp; Carlsberg A/S, Class B (a) | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 4122 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 5778 |
| &nbsp;&nbsp;&nbsp; H Lundbeck A/S | &nbsp;&nbsp;&nbsp;&nbsp; 548 | &nbsp;&nbsp;&nbsp;&nbsp; 2856 |
| &nbsp;&nbsp;&nbsp; ISS A/S | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 2129 |
| &nbsp;&nbsp;&nbsp; Sydbank A/S | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 1919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16804 |
| **Finland — 1.4%** | **Finland — 1.4%** | **Finland — 1.4%** |
| &nbsp;&nbsp;&nbsp; Kalmar OYJ, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp; 3991 |
| &nbsp;&nbsp;&nbsp; Konecranes OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 3124 |
| &nbsp;&nbsp;&nbsp; Nokia OYJ | &nbsp;&nbsp;&nbsp;&nbsp; 1008 | &nbsp;&nbsp;&nbsp;&nbsp; 4106 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp; 321 | &nbsp;&nbsp;&nbsp;&nbsp; 4688 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp; 248 | &nbsp;&nbsp;&nbsp;&nbsp; 3619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19528 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **France — 7.3%** | **France — 7.3%** | **France — 7.3%** |
| &nbsp;&nbsp;&nbsp; AXA SA | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; 14922 |
| &nbsp;&nbsp;&nbsp; Ayvens SA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 222 | &nbsp;&nbsp;&nbsp;&nbsp; 2388 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 16017 |
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp; 5259 |
| &nbsp;&nbsp;&nbsp; Coface SA | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 1799 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA | &nbsp;&nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp; 4112 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 2892 |
| &nbsp;&nbsp;&nbsp; Engie SA | &nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp; 8102 |
| &nbsp;&nbsp;&nbsp; Forvia SE \* | &nbsp;&nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp; 1512 |
| &nbsp;&nbsp;&nbsp; IPSOS SA | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 1744 |
| &nbsp;&nbsp;&nbsp; Orange SA | &nbsp;&nbsp;&nbsp;&nbsp; 417 | &nbsp;&nbsp;&nbsp;&nbsp; 6349 |
| &nbsp;&nbsp;&nbsp; Renault SA | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 3429 |
| &nbsp;&nbsp;&nbsp; Rubis SCA | &nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 1980 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp; 9212 |
| &nbsp;&nbsp;&nbsp; Television Francaise 1 SA | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; 1393 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp; 336 | &nbsp;&nbsp;&nbsp;&nbsp; 19987 |
| &nbsp;&nbsp;&nbsp; Vallourec SACA | &nbsp;&nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp;&nbsp;&nbsp; 2252 |
| &nbsp;&nbsp;&nbsp; Vicat SACA | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 1908 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 105257 |
| **Georgia — 0.1%** | **Georgia — 0.1%** | **Georgia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Lion Finance Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 2059 |
| **Germany — 10.9%** | **Germany — 10.9%** | **Germany — 10.9%** |
| &nbsp;&nbsp;&nbsp; Allianz SE (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 24778 |
| &nbsp;&nbsp;&nbsp; Aroundtown SA \* | &nbsp;&nbsp;&nbsp;&nbsp; 573 | &nbsp;&nbsp;&nbsp;&nbsp; 2066 |
| &nbsp;&nbsp;&nbsp; Bayer AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp; 4600 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 4208 |
| &nbsp;&nbsp;&nbsp; Bilfinger SE | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 3360 |
| &nbsp;&nbsp;&nbsp; Commerzbank AG | &nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp; 6916 |
| &nbsp;&nbsp;&nbsp; Continental AG | &nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp; 4083 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 347 | &nbsp;&nbsp;&nbsp;&nbsp; 11447 |
| &nbsp;&nbsp;&nbsp; Deutsche Post AG | &nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp; 7820 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 498 | &nbsp;&nbsp;&nbsp;&nbsp; 17881 |
| &nbsp;&nbsp;&nbsp; E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp; 340 | &nbsp;&nbsp;&nbsp;&nbsp; 6202 |
| &nbsp;&nbsp;&nbsp; Freenet AG | &nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp; 2358 |
| &nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 4916 |
| &nbsp;&nbsp;&nbsp; Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 4607 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA (Preference) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 3148 |
| &nbsp;&nbsp;&nbsp; HOCHTIEF AG | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 5284 |
| &nbsp;&nbsp;&nbsp; Hornbach Holding AG & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 1717 |
| &nbsp;&nbsp;&nbsp; LEG Immobilien SE | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 2758 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp; 7378 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; 15092 |
| &nbsp;&nbsp;&nbsp; ProSiebenSat.1 Media SE | &nbsp;&nbsp;&nbsp;&nbsp; 281 | &nbsp;&nbsp;&nbsp;&nbsp; 2557 |
| &nbsp;&nbsp;&nbsp; SAF-Holland SE | &nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp; 1445 |
| &nbsp;&nbsp;&nbsp; Talanx AG | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 2593 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Germany — continued** | **Germany — continued** | **Germany — continued** |
| &nbsp;&nbsp;&nbsp; Volkswagen AG (Preference) | &nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 4708 |
| &nbsp;&nbsp;&nbsp; Vonovia SE (a) | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp; 5425 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 157347 |
| **Guatemala — 0.1%** | **Guatemala — 0.1%** | **Guatemala — 0.1%** |
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 1493 |
| **Hong Kong — 1.9%** | **Hong Kong — 1.9%** | **Hong Kong — 1.9%** |
| &nbsp;&nbsp;&nbsp; CK Asset Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 806 | &nbsp;&nbsp;&nbsp;&nbsp; 3693 |
| &nbsp;&nbsp;&nbsp; Hang Lung Properties Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 4357 | &nbsp;&nbsp;&nbsp;&nbsp; 4487 |
| &nbsp;&nbsp;&nbsp; Kerry Properties Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 1611 | &nbsp;&nbsp;&nbsp;&nbsp; 4302 |
| &nbsp;&nbsp;&nbsp; Prudential plc | &nbsp;&nbsp;&nbsp;&nbsp; 563 | &nbsp;&nbsp;&nbsp;&nbsp; 7140 |
| &nbsp;&nbsp;&nbsp; Swire Properties Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 967 | &nbsp;&nbsp;&nbsp;&nbsp; 2593 |
| &nbsp;&nbsp;&nbsp; United Laboratories International Holdings Ltd. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 1072 | &nbsp;&nbsp;&nbsp;&nbsp; 2009 |
| &nbsp;&nbsp;&nbsp; WH Group Ltd. (b) | &nbsp;&nbsp;&nbsp;&nbsp; 3078 | &nbsp;&nbsp;&nbsp;&nbsp; 3081 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 27305 |
| **Indonesia — 0.3%** | **Indonesia — 0.3%** | **Indonesia — 0.3%** |
| &nbsp;&nbsp;&nbsp; First Pacific Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 5870 | &nbsp;&nbsp;&nbsp;&nbsp; 4619 |
| **Ireland — 1.5%** | **Ireland — 1.5%** | **Ireland — 1.5%** |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV | &nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 4937 |
| &nbsp;&nbsp;&nbsp; AIB Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 466 | &nbsp;&nbsp;&nbsp;&nbsp; 3673 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 245 | &nbsp;&nbsp;&nbsp;&nbsp; 3289 |
| &nbsp;&nbsp;&nbsp; Cairn Homes plc | &nbsp;&nbsp;&nbsp;&nbsp; 824 | &nbsp;&nbsp;&nbsp;&nbsp; 2051 |
| &nbsp;&nbsp;&nbsp; Glanbia plc | &nbsp;&nbsp;&nbsp;&nbsp; 228 | &nbsp;&nbsp;&nbsp;&nbsp; 3311 |
| &nbsp;&nbsp;&nbsp; Glenveagh Properties plc \* (b) | &nbsp;&nbsp;&nbsp;&nbsp; 1246 | &nbsp;&nbsp;&nbsp;&nbsp; 2658 |
| &nbsp;&nbsp;&nbsp; Greencore Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 534 | &nbsp;&nbsp;&nbsp;&nbsp; 1813 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 21732 |
| **Israel — 0.2%** | **Israel — 0.2%** | **Israel — 0.2%** |
| &nbsp;&nbsp;&nbsp; Plus500 Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 2387 |
| **Italy — 5.4%** | **Italy — 5.4%** | **Italy — 5.4%** |
| &nbsp;&nbsp;&nbsp; Azimut Holding SpA | &nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp; 4613 |
| &nbsp;&nbsp;&nbsp; Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp; 1422 |
| &nbsp;&nbsp;&nbsp; Banco BPM SpA | &nbsp;&nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp;&nbsp; 3893 |
| &nbsp;&nbsp;&nbsp; BFF Bank SpA \* (b) | &nbsp;&nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp; 1867 |
| &nbsp;&nbsp;&nbsp; BPER Banca SpA | &nbsp;&nbsp;&nbsp;&nbsp; 361 | &nbsp;&nbsp;&nbsp;&nbsp; 3552 |
| &nbsp;&nbsp;&nbsp; Danieli & C Officine Meccaniche SpA | &nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp; 2225 |
| &nbsp;&nbsp;&nbsp; Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp; 1664 | &nbsp;&nbsp;&nbsp;&nbsp; 14670 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp; 2629 | &nbsp;&nbsp;&nbsp;&nbsp; 15840 |
| &nbsp;&nbsp;&nbsp; Iveco Group NV | &nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp; 1647 |
| &nbsp;&nbsp;&nbsp; MFE-MediaForEurope NV, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp; 1204 |
| &nbsp;&nbsp;&nbsp; Pirelli & C SpA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 206 | &nbsp;&nbsp;&nbsp;&nbsp; 1387 |
| &nbsp;&nbsp;&nbsp; Poste Italiane SpA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp; 4123 |
| &nbsp;&nbsp;&nbsp; Saipem SpA | &nbsp;&nbsp;&nbsp;&nbsp; 928 | &nbsp;&nbsp;&nbsp;&nbsp; 2480 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp;&nbsp;&nbsp; 10883 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Italy — continued** | **Italy — continued** | **Italy — continued** |
| &nbsp;&nbsp;&nbsp; Unipol Assicurazioni SpA | &nbsp;&nbsp;&nbsp;&nbsp; 294 | &nbsp;&nbsp;&nbsp;&nbsp; 5894 |
| &nbsp;&nbsp;&nbsp; Webuild SpA | &nbsp;&nbsp;&nbsp;&nbsp; 454 | &nbsp;&nbsp;&nbsp;&nbsp; 2045 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 77745 |
| **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** |
| &nbsp;&nbsp;&nbsp; Endeavour Mining plc | &nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; 2020 |
| **Japan — 21.7%** | **Japan — 21.7%** | **Japan — 21.7%** |
| &nbsp;&nbsp;&nbsp; Aiful Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 4432 |
| &nbsp;&nbsp;&nbsp; Amada Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp;&nbsp;&nbsp; 1579 |
| &nbsp;&nbsp;&nbsp; Asahi Kasei Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 458 | &nbsp;&nbsp;&nbsp;&nbsp; 3190 |
| &nbsp;&nbsp;&nbsp; Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 2157 |
| &nbsp;&nbsp;&nbsp; Credit Saison Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 3319 |
| &nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 744 | &nbsp;&nbsp;&nbsp;&nbsp; 5887 |
| &nbsp;&nbsp;&nbsp; Daiwa Securities Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 607 | &nbsp;&nbsp;&nbsp;&nbsp; 4226 |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 843 | &nbsp;&nbsp;&nbsp;&nbsp; 4425 |
| &nbsp;&nbsp;&nbsp; Fuji Media Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp; 3086 |
| &nbsp;&nbsp;&nbsp; Furukawa Electric Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp; 4150 |
| &nbsp;&nbsp;&nbsp; Gunma Bank Ltd. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp; 1535 |
| &nbsp;&nbsp;&nbsp; Hakuhodo DY Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 307 | &nbsp;&nbsp;&nbsp;&nbsp; 2419 |
| &nbsp;&nbsp;&nbsp; Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 436 | &nbsp;&nbsp;&nbsp;&nbsp; 2804 |
| &nbsp;&nbsp;&nbsp; Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 429 | &nbsp;&nbsp;&nbsp;&nbsp; 6107 |
| &nbsp;&nbsp;&nbsp; Isuzu Motors Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 232 | &nbsp;&nbsp;&nbsp;&nbsp; 2969 |
| &nbsp;&nbsp;&nbsp; Japan Airlines Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 225 | &nbsp;&nbsp;&nbsp;&nbsp; 4466 |
| &nbsp;&nbsp;&nbsp; Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 1898 |
| &nbsp;&nbsp;&nbsp; Japan Petroleum Exploration Co. Ltd. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp;&nbsp;&nbsp; 1704 |
| &nbsp;&nbsp;&nbsp; Kamigumi Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 1607 |
| &nbsp;&nbsp;&nbsp; Kandenko Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 2286 |
| &nbsp;&nbsp;&nbsp; Kansai Paint Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp; 2394 |
| &nbsp;&nbsp;&nbsp; KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 610 | &nbsp;&nbsp;&nbsp;&nbsp; 10016 |
| &nbsp;&nbsp;&nbsp; Komatsu Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 5657 |
| &nbsp;&nbsp;&nbsp; Kyocera Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 414 | &nbsp;&nbsp;&nbsp;&nbsp; 4889 |
| &nbsp;&nbsp;&nbsp; Marubeni Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 7158 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1869 | &nbsp;&nbsp;&nbsp;&nbsp; 25761 |
| &nbsp;&nbsp;&nbsp; Mitsui & Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp; 10486 |
| &nbsp;&nbsp;&nbsp; Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 2686 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 409 | &nbsp;&nbsp;&nbsp;&nbsp; 11982 |
| &nbsp;&nbsp;&nbsp; Modec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; 5607 |
| &nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 279 | &nbsp;&nbsp;&nbsp;&nbsp; 5972 |
| &nbsp;&nbsp;&nbsp; Nippon Yusen KK | &nbsp;&nbsp;&nbsp;&nbsp; 181 | &nbsp;&nbsp;&nbsp;&nbsp; 6365 |
| &nbsp;&nbsp;&nbsp; Niterra Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 1506 |
| &nbsp;&nbsp;&nbsp; Nomura Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1072 | &nbsp;&nbsp;&nbsp;&nbsp; 7083 |
| &nbsp;&nbsp;&nbsp; Nomura Real Estate Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 284 | &nbsp;&nbsp;&nbsp;&nbsp; 1574 |
| &nbsp;&nbsp;&nbsp; Open House Group Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 4179 |
| &nbsp;&nbsp;&nbsp; ORIX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 284 | &nbsp;&nbsp;&nbsp;&nbsp; 6377 |
| &nbsp;&nbsp;&nbsp; Osaka Gas Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp;&nbsp;&nbsp; 3360 |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp; 4556 |
| &nbsp;&nbsp;&nbsp; Resona Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 451 | &nbsp;&nbsp;&nbsp;&nbsp; 4105 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Japan — continued** | **Japan — continued** | **Japan — continued** |
| &nbsp;&nbsp;&nbsp; Sankyo Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 2898 |
| &nbsp;&nbsp;&nbsp; SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 6527 |
| &nbsp;&nbsp;&nbsp; Sojitz Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 1840 |
| &nbsp;&nbsp;&nbsp; Sompo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp; 3462 |
| &nbsp;&nbsp;&nbsp; Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp; 8118 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp; 6434 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 635 | &nbsp;&nbsp;&nbsp;&nbsp; 16029 |
| &nbsp;&nbsp;&nbsp; Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 3025 |
| &nbsp;&nbsp;&nbsp; Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 203 | &nbsp;&nbsp;&nbsp;&nbsp; 2319 |
| &nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp; 4502 |
| &nbsp;&nbsp;&nbsp; T&D Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 213 | &nbsp;&nbsp;&nbsp;&nbsp; 5201 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp;&nbsp;&nbsp; 5741 |
| &nbsp;&nbsp;&nbsp; TBS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 1776 |
| &nbsp;&nbsp;&nbsp; Tokai Rika Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; 1824 |
| &nbsp;&nbsp;&nbsp; Tokuyama Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 211 | &nbsp;&nbsp;&nbsp;&nbsp; 4525 |
| &nbsp;&nbsp;&nbsp; Tokyo Century Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp;&nbsp;&nbsp; 4402 |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 2475 |
| &nbsp;&nbsp;&nbsp; Tokyo Steel Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp; 1825 |
| &nbsp;&nbsp;&nbsp; Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 227 | &nbsp;&nbsp;&nbsp;&nbsp; 3797 |
| &nbsp;&nbsp;&nbsp; Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 584 | &nbsp;&nbsp;&nbsp;&nbsp; 4117 |
| &nbsp;&nbsp;&nbsp; Toyo Tire Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 2048 |
| &nbsp;&nbsp;&nbsp; Toyoda Gosei Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 3383 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 629 | &nbsp;&nbsp;&nbsp;&nbsp; 11181 |
| &nbsp;&nbsp;&nbsp; Toyota Tsusho Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp; 3832 |
| &nbsp;&nbsp;&nbsp; Tsubakimoto Chain Co. | &nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; 1924 |
| &nbsp;&nbsp;&nbsp; UACJ Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 2133 |
| &nbsp;&nbsp;&nbsp; Yamato Kogyo Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 1369 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 312666 |
| **Netherlands — 3.9%** | **Netherlands — 3.9%** | **Netherlands — 3.9%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV, CVA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp; 3664 |
| &nbsp;&nbsp;&nbsp; Aegon Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 487 | &nbsp;&nbsp;&nbsp;&nbsp; 3478 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | &nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 3482 |
| &nbsp;&nbsp;&nbsp; Eurocommercial Properties NV, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 1507 |
| &nbsp;&nbsp;&nbsp; Havas NV | &nbsp;&nbsp;&nbsp;&nbsp; 887 | &nbsp;&nbsp;&nbsp;&nbsp; 1425 |
| &nbsp;&nbsp;&nbsp; Heineken Holding NV | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 5611 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp; 566 | &nbsp;&nbsp;&nbsp;&nbsp; 13203 |
| &nbsp;&nbsp;&nbsp; Koninklijke BAM Groep NV | &nbsp;&nbsp;&nbsp;&nbsp; 570 | &nbsp;&nbsp;&nbsp;&nbsp; 4980 |
| &nbsp;&nbsp;&nbsp; Koninklijke Heijmans N.V., CVA | &nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 6162 |
| &nbsp;&nbsp;&nbsp; NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 6035 |
| &nbsp;&nbsp;&nbsp; OCI NV | &nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp; 2355 |
| &nbsp;&nbsp;&nbsp; SBM Offshore NV | &nbsp;&nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp;&nbsp; 1923 |
| &nbsp;&nbsp;&nbsp; Wereldhave NV, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 2622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 56447 |
| **Norway — 1.4%** | **Norway — 1.4%** | **Norway — 1.4%** |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | &nbsp;&nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp; 2050 |
| &nbsp;&nbsp;&nbsp; Aker Solutions ASA | &nbsp;&nbsp;&nbsp;&nbsp; 472 | &nbsp;&nbsp;&nbsp;&nbsp; 1395 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Norway — continued** | **Norway — continued** | **Norway — continued** |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp; 4954 |
| &nbsp;&nbsp;&nbsp; DOF Group ASA (a) | &nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp; 2142 |
| &nbsp;&nbsp;&nbsp; Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp; 5048 |
| &nbsp;&nbsp;&nbsp; Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp; 4089 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19678 |
| **Peru — 0.2%** | **Peru — 0.2%** | **Peru — 0.2%** |
| &nbsp;&nbsp;&nbsp; Hochschild Mining plc | &nbsp;&nbsp;&nbsp;&nbsp; 624 | &nbsp;&nbsp;&nbsp;&nbsp; 2295 |
| **Portugal — 0.3%** | **Portugal — 0.3%** | **Portugal — 0.3%** |
| &nbsp;&nbsp;&nbsp; Banco Comercial Portugues SA, Class R | &nbsp;&nbsp;&nbsp;&nbsp; 2690 | &nbsp;&nbsp;&nbsp;&nbsp; 2209 |
| &nbsp;&nbsp;&nbsp; NOS SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp; 449 | &nbsp;&nbsp;&nbsp;&nbsp; 1852 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4061 |
| **Singapore — 0.4%** | **Singapore — 0.4%** | **Singapore — 0.4%** |
| &nbsp;&nbsp;&nbsp; United Overseas Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp; 5323 |
| **South Africa — 0.5%** | **South Africa — 0.5%** | **South Africa — 0.5%** |
| &nbsp;&nbsp;&nbsp; Anglo American plc | &nbsp;&nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp;&nbsp; 6715 |
| **Spain — 3.9%** | **Spain — 3.9%** | **Spain — 3.9%** |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp;&nbsp; 1008 | &nbsp;&nbsp;&nbsp;&nbsp; 16812 |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA | &nbsp;&nbsp;&nbsp;&nbsp; 1297 | &nbsp;&nbsp;&nbsp;&nbsp; 4785 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp; 1938 | &nbsp;&nbsp;&nbsp;&nbsp; 16652 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | &nbsp;&nbsp;&nbsp;&nbsp; 776 | &nbsp;&nbsp;&nbsp;&nbsp; 7302 |
| &nbsp;&nbsp;&nbsp; Grupo Catalana Occidente SA | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 3020 |
| &nbsp;&nbsp;&nbsp; Mapfre SA | &nbsp;&nbsp;&nbsp;&nbsp; 361 | &nbsp;&nbsp;&nbsp;&nbsp; 1469 |
| &nbsp;&nbsp;&nbsp; Tecnicas Reunidas SA \* | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 3170 |
| &nbsp;&nbsp;&nbsp; Unicaja Banco SA (b) | &nbsp;&nbsp;&nbsp;&nbsp; 841 | &nbsp;&nbsp;&nbsp;&nbsp; 2210 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 55420 |
| **Sweden — 2.5%** | **Sweden — 2.5%** | **Sweden — 2.5%** |
| &nbsp;&nbsp;&nbsp; Ambea AB (b) | &nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp; 3296 |
| &nbsp;&nbsp;&nbsp; Betsson AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp; 1486 |
| &nbsp;&nbsp;&nbsp; Dometic Group AB (c) | &nbsp;&nbsp;&nbsp;&nbsp; 214 | &nbsp;&nbsp;&nbsp;&nbsp; 1081 |
| &nbsp;&nbsp;&nbsp; Evolution AB (b) | &nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 3259 |
| &nbsp;&nbsp;&nbsp; Granges AB | &nbsp;&nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp; 1332 |
| &nbsp;&nbsp;&nbsp; Loomis AB | &nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 1951 |
| &nbsp;&nbsp;&nbsp; Modern Times Group MTG AB, Class B \* | &nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp; 1207 |
| &nbsp;&nbsp;&nbsp; NCC AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp; 1920 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp; 5853 |
| &nbsp;&nbsp;&nbsp; Storskogen Group AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 1743 | &nbsp;&nbsp;&nbsp;&nbsp; 2023 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 328 | &nbsp;&nbsp;&nbsp;&nbsp; 3999 |
| &nbsp;&nbsp;&nbsp; Swedbank AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp; 5055 |
| &nbsp;&nbsp;&nbsp; Tele2 AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp;&nbsp;&nbsp; 3492 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 35954 |
| **Switzerland — 0.2%** | **Switzerland — 0.2%** | **Switzerland — 0.2%** |
| &nbsp;&nbsp;&nbsp; Aryzta AG \* | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 1920 |
| &nbsp;&nbsp;&nbsp; Avolta AG | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 1374 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3294 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United Kingdom — 14.7%** | **United Kingdom — 14.7%** | **United Kingdom — 14.7%** |
| &nbsp;&nbsp;&nbsp; 3i Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp; 9072 |
| &nbsp;&nbsp;&nbsp; Aviva plc | &nbsp;&nbsp;&nbsp;&nbsp; 645 | &nbsp;&nbsp;&nbsp;&nbsp; 5507 |
| &nbsp;&nbsp;&nbsp; B&M European Value Retail SA | &nbsp;&nbsp;&nbsp;&nbsp; 503 | &nbsp;&nbsp;&nbsp;&nbsp; 1486 |
| &nbsp;&nbsp;&nbsp; Balfour Beatty plc | &nbsp;&nbsp;&nbsp;&nbsp; 261 | &nbsp;&nbsp;&nbsp;&nbsp; 1865 |
| &nbsp;&nbsp;&nbsp; Barclays plc | &nbsp;&nbsp;&nbsp;&nbsp; 2592 | &nbsp;&nbsp;&nbsp;&nbsp; 12669 |
| &nbsp;&nbsp;&nbsp; Beazley plc | &nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 1880 |
| &nbsp;&nbsp;&nbsp; Bellway plc | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 1811 |
| &nbsp;&nbsp;&nbsp; British American Tobacco plc | &nbsp;&nbsp;&nbsp;&nbsp; 341 | &nbsp;&nbsp;&nbsp;&nbsp; 18288 |
| &nbsp;&nbsp;&nbsp; British Land Co. plc (The), REIT | &nbsp;&nbsp;&nbsp;&nbsp; 224 | &nbsp;&nbsp;&nbsp;&nbsp; 1032 |
| &nbsp;&nbsp;&nbsp; BT Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 1787 | &nbsp;&nbsp;&nbsp;&nbsp; 4880 |
| &nbsp;&nbsp;&nbsp; Burberry Group plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 2082 |
| &nbsp;&nbsp;&nbsp; Centrica plc | &nbsp;&nbsp;&nbsp;&nbsp; 2412 | &nbsp;&nbsp;&nbsp;&nbsp; 5244 |
| &nbsp;&nbsp;&nbsp; Currys plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 1444 | &nbsp;&nbsp;&nbsp;&nbsp; 2154 |
| &nbsp;&nbsp;&nbsp; Drax Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp; 2011 |
| &nbsp;&nbsp;&nbsp; Dunelm Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp; 3080 |
| &nbsp;&nbsp;&nbsp; easyJet plc | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp;&nbsp;&nbsp; 1848 |
| &nbsp;&nbsp;&nbsp; Great Portland Estates plc, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp; 1616 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 2820 | &nbsp;&nbsp;&nbsp;&nbsp; 34357 |
| &nbsp;&nbsp;&nbsp; IG Group Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp; 1627 |
| &nbsp;&nbsp;&nbsp; Imperial Brands plc | &nbsp;&nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp;&nbsp;&nbsp; 8790 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp;&nbsp;&nbsp; 3099 |
| &nbsp;&nbsp;&nbsp; Investec plc | &nbsp;&nbsp;&nbsp;&nbsp; 277 | &nbsp;&nbsp;&nbsp;&nbsp; 2055 |
| &nbsp;&nbsp;&nbsp; ITV plc | &nbsp;&nbsp;&nbsp;&nbsp; 1448 | &nbsp;&nbsp;&nbsp;&nbsp; 1570 |
| &nbsp;&nbsp;&nbsp; JET2 plc | &nbsp;&nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp;&nbsp; 2766 |
| &nbsp;&nbsp;&nbsp; Johnson Matthey plc | &nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp; 1814 |
| &nbsp;&nbsp;&nbsp; Just Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 2291 | &nbsp;&nbsp;&nbsp;&nbsp; 6385 |
| &nbsp;&nbsp;&nbsp; Keller Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp; 1812 |
| &nbsp;&nbsp;&nbsp; Kier Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 1373 | &nbsp;&nbsp;&nbsp;&nbsp; 3589 |
| &nbsp;&nbsp;&nbsp; Lancashire Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 380 | &nbsp;&nbsp;&nbsp;&nbsp; 3138 |
| &nbsp;&nbsp;&nbsp; Land Securities Group plc, REIT | &nbsp;&nbsp;&nbsp;&nbsp; 411 | &nbsp;&nbsp;&nbsp;&nbsp; 3127 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 10987 | &nbsp;&nbsp;&nbsp;&nbsp; 11266 |
| &nbsp;&nbsp;&nbsp; Marks & Spencer Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 699 | &nbsp;&nbsp;&nbsp;&nbsp; 3210 |
| &nbsp;&nbsp;&nbsp; Mitie Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 995 | &nbsp;&nbsp;&nbsp;&nbsp; 1846 |
| &nbsp;&nbsp;&nbsp; Morgan Sindall Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp; 1483 |
| &nbsp;&nbsp;&nbsp; NatWest Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 1505 | &nbsp;&nbsp;&nbsp;&nbsp; 10449 |
| &nbsp;&nbsp;&nbsp; Paragon Banking Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp;&nbsp; 2775 |
| &nbsp;&nbsp;&nbsp; Pennon Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 397 | &nbsp;&nbsp;&nbsp;&nbsp; 2622 |
| &nbsp;&nbsp;&nbsp; Phoenix Group Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 471 | &nbsp;&nbsp;&nbsp;&nbsp; 4123 |
| &nbsp;&nbsp;&nbsp; Premier Foods plc | &nbsp;&nbsp;&nbsp;&nbsp; 474 | &nbsp;&nbsp;&nbsp;&nbsp; 1206 |
| &nbsp;&nbsp;&nbsp; Serco Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 651 | &nbsp;&nbsp;&nbsp;&nbsp; 1794 |
| &nbsp;&nbsp;&nbsp; SSE plc | &nbsp;&nbsp;&nbsp;&nbsp; 171 | &nbsp;&nbsp;&nbsp;&nbsp; 4183 |
| &nbsp;&nbsp;&nbsp; Standard Chartered plc | &nbsp;&nbsp;&nbsp;&nbsp; 428 | &nbsp;&nbsp;&nbsp;&nbsp; 7671 |
| &nbsp;&nbsp;&nbsp; Taylor Wimpey plc | &nbsp;&nbsp;&nbsp;&nbsp; 793 | &nbsp;&nbsp;&nbsp;&nbsp; 1067 |
| &nbsp;&nbsp;&nbsp; Tesco plc | &nbsp;&nbsp;&nbsp;&nbsp; 1004 | &nbsp;&nbsp;&nbsp;&nbsp; 5640 |
| &nbsp;&nbsp;&nbsp; TP ICAP Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 443 | &nbsp;&nbsp;&nbsp;&nbsp; 1786 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 211775 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **United States — 9.6%** | **United States — 9.6%** | **United States — 9.6%** |
| &nbsp;&nbsp;&nbsp; BP plc | &nbsp;&nbsp;&nbsp;&nbsp; 1047 | &nbsp;&nbsp;&nbsp;&nbsp; 5614 |
| &nbsp;&nbsp;&nbsp; Buzzi SpA | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 1572 |
| &nbsp;&nbsp;&nbsp; Carnival plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 2257 |
| &nbsp;&nbsp;&nbsp; GSK plc | &nbsp;&nbsp;&nbsp;&nbsp; 822 | &nbsp;&nbsp;&nbsp;&nbsp; 15121 |
| &nbsp;&nbsp;&nbsp; Nestle SA (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 4075 |
| &nbsp;&nbsp;&nbsp; Novartis AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 17786 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp; 36753 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 8518 |
| &nbsp;&nbsp;&nbsp; Shell plc | &nbsp;&nbsp;&nbsp;&nbsp; 979 | &nbsp;&nbsp;&nbsp;&nbsp; 35171 |
| &nbsp;&nbsp;&nbsp; Swiss Re AG | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 9689 |
| &nbsp;&nbsp;&nbsp; Tenaris SA | &nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp; 2032 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 138588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $1,142,535)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 1397051 |
| **Short-Term Investments — 3.3%** | **Short-Term Investments — 3.3%** | **Short-Term Investments — 3.3%** |
| **Investment Companies — 2.5%** | **Investment Companies — 2.5%** | **Investment Companies — 2.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class Institutional Shares, 4.28% (d) (e) <br>(Cost $36,554)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 36547 | &nbsp;&nbsp;&nbsp;&nbsp; 36555 |
| **Investment of Cash Collateral from Securities Loaned — 0.8%** | **Investment of Cash Collateral from Securities Loaned — 0.8%** | **Investment of Cash Collateral from Securities Loaned — 0.8%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 4.37% (d) (e)(Cost $11,405) | &nbsp;&nbsp;&nbsp;&nbsp; 11405 | &nbsp;&nbsp;&nbsp;&nbsp; 11405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $47,959)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 47960 |
| **Total Investments — 100.4%** <br>**(Cost $1,190,494)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **1445011** |
| **Liabilities in Excess of Other Assets — (0.4)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(5999)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **1439012** |

---

&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** |  |
| CVA | Certificaten Van Aandelen (Dutch Certificate) |
| 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>|
| REIT | Real Estate Investment Trust |
| SCA | Limited partnership with share capital |
| SGPS | Holding company |

---

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

\* Non-income producing security. 

(a) The security or a portion of this security is on loan at July 31, 2025. The total value of securities on loan at July 31, 2025 is $10,690.

(b) 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. 

(c) Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended.

(d) 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. 

(e) The rate shown is the current yield as of July 31, 2025.

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

**Summary of Investments by Industry, July 31, 2025**

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 | 23.7<br> %<br>|
| Insurance | 10.8 |
| Pharmaceuticals | 6.5 |
| Oil, Gas & Consumable Fuels | 6.4 |
| Metals & Mining | 4.7 |
| Capital Markets | 3.8 |
| Diversified Telecommunication Services | 2.7 |
| Automobiles | 2.7 |
| Construction & Engineering | 2.6 |
| Real Estate Management & Development | 2.6 |
| Trading Companies & Distributors | 2.5 |
| Automobile Components | 2.2 |
| Tobacco | 1.9 |
| Machinery | 1.7 |
| Multi-Utilities | 1.6 |
| Energy Equipment & Services | 1.5 |
| Food Products | 1.4 |
| Electric Utilities | 1.3 |
| Wireless Telecommunication Services | 1.2 |
| Chemicals | 1.2 |
| Media | 1.2 |
| Household Durables | 1.1 |
| Financial Services | 1.1 |
| Others (each less than 1.0%) | 10.3 |
| Short-Term Investments | 3.3 |

---

**Futures contracts outstanding as of July 31, 2025 (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** |  |  |  |  |  |
| MSCI EAFE Index | &nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 9276 | &nbsp;&nbsp;&nbsp;&nbsp; (40)<br>|

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| EAFE | Europe, Australasia and Far East |
| MSCI | Morgan Stanley Capital International |
| USD | United States Dollar |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

(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 Securities and Exchange Commission 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 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.

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 are 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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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; $63420 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $63420 |
| &nbsp;&nbsp;&nbsp; Austria | &nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp; 16431 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18631 |
| &nbsp;&nbsp;&nbsp; Belgium | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15664 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15664 |
| &nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8824 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8824 |
| &nbsp;&nbsp;&nbsp; Denmark | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16804 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16804 |
| &nbsp;&nbsp;&nbsp; Finland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19528 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19528 |

---

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

(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; France | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $105257 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $105257 |
| &nbsp;&nbsp;&nbsp; Georgia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2059 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2059 |
| &nbsp;&nbsp;&nbsp; Germany | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 157347 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 157347 |
| &nbsp;&nbsp;&nbsp; Guatemala | &nbsp;&nbsp;&nbsp;&nbsp; 1493 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1493 |
| &nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27305 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27305 |
| &nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4619 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4619 |
| &nbsp;&nbsp;&nbsp; Ireland | &nbsp;&nbsp;&nbsp;&nbsp; 8801 | &nbsp;&nbsp;&nbsp;&nbsp; 12931 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21732 |
| &nbsp;&nbsp;&nbsp; Israel | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2387 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2387 |
| &nbsp;&nbsp;&nbsp; Italy | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77745 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77745 |
| &nbsp;&nbsp;&nbsp; Ivory Coast | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2020 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2020 |
| &nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 312666 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 312666 |
| &nbsp;&nbsp;&nbsp; Netherlands | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 56447 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 56447 |
| &nbsp;&nbsp;&nbsp; Norway | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19678 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19678 |
| &nbsp;&nbsp;&nbsp; Peru | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2295 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2295 |
| &nbsp;&nbsp;&nbsp; Portugal | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4061 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4061 |
| &nbsp;&nbsp;&nbsp; Singapore | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5323 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5323 |
| &nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6715 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6715 |
| &nbsp;&nbsp;&nbsp; Spain | &nbsp;&nbsp;&nbsp;&nbsp; 3020 | &nbsp;&nbsp;&nbsp;&nbsp; 52400 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 55420 |
| &nbsp;&nbsp;&nbsp; Sweden | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35954 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35954 |
| &nbsp;&nbsp;&nbsp; Switzerland | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3294 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3294 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp; 16554 | &nbsp;&nbsp;&nbsp;&nbsp; 195221 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 211775 |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 138588 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 138588 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 32068 | &nbsp;&nbsp;&nbsp;&nbsp; 1364983 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1397051 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 36555 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 36555 |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | &nbsp;&nbsp;&nbsp;&nbsp; 11405 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11405 |
| &nbsp;&nbsp;&nbsp; Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 47960 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 47960 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $80028 | &nbsp;&nbsp;&nbsp;&nbsp; $1364983 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1445011 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $(40)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(40)<br>|

---

**B. Investment Transactions with Affiliates**— The Fund invested in Underlying Funds 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.

------

**JPMorgan Developed International Value Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

(Dollar values in thousands)

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 July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2024**<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>**July 31,** <br>**2025**<br>| **Shares at** <br>**July 31,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund <br> Class Institutional Shares, 4.28% (a) (b)<br>| $31322 | $455604 | $450358 | $(11)<br>| $(2)<br>| $36555 | 36547 | $1439 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund <br> Agency SL Class Shares, 4.37% (a) (b)<br>| 1743 | 109197 | 99535 |  |  | 11405 | 11405 | 235 |  |
| **Total** | $33065 | $564801 | $549893 | $(11)<br>| $(2)<br>| $47960 |  | $1674 | $— |

---

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

 <br> (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. <br> (b) The rate shown is the current yield as of July 31, 2025.

------

## 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 Developed International Value Fund

- **b. EDGAR series identifier (if any):** S000002627

- **c. LEI of Series:** NV3LQK78SNLPSWXGBJ59

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $1449933648.10

**Total Liabilities:** $12982100.72

**Net Assets:** $1436951547.38

**Cash Not Reported:** $101724.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007228 | 5.09%                | 2.31%                | 0.17%                |
| Class ID C000173219 | 5.06%                | 2.32%                | 0.17%                |
| Class ID C000070620 | 5.01%                | 2.30%                | 0.12%                |
| Class ID C000007227 | 5.06%                | 2.29%                | 0.17%                |
| Class ID C000034831 | 4.99%                | 2.25%                | 0.06%                |
| Class ID C000007229 | 5.04%                | 2.25%                | 0.12%                |
| Class ID C000093774 | 5.06%                | 2.32%                | 0.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5605742.68              | $38924691.72                               |
| Month 2  | $-62822.91               | $26226435.76                               |
| Month 3  | $-2040050.14             | $2915909.28                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Orange SA                                             | Orange SA                                                             | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |    417383 | NS      | $6348846.82   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                          | Mizuho Financial Group, Inc.                                          | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |    408510 | NS      | $11982276.99  | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui & Co. Ltd.                                     | Mitsui & Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |    515100 | NS      | $10485707.00  | 0.73%             |  |  |  | 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        |  36547328 | NS      | $36554637.33  | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Idemitsu Kosan Co. Ltd.                               | Idemitsu Kosan Co. Ltd.                                               | CUSIP: N/A<br>LEI: 549300P0R46FF6DUA630       | Long             | EC               | CORP              | JP        |    436100 | NS      | $2803519.57   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Just Group plc                                        | Just Group plc                                                        | CUSIP: N/A<br>LEI: 5493006456YEZEELRR90       | Long             | EC               | CORP              | GB        |   2291290 | NS      | $6384843.41   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Lion Finance Group plc                                | Lion Finance Group plc                                                | CUSIP: N/A<br>LEI: 213800XKDG12NQG8VC53       | Long             | EC               | CORP              | GB        |     20541 | NS      | $2059323.37   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolution AB                                          | Evolution AB                                                          | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |     36638 | NS      | $3259357.24   | 0.23%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BAWAG Group AG                                        | BAWAG Group AG                                                        | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38       | Long             | EC               | CORP              | AT        |     14080 | NS      | $1777002.62   | 0.12%             |  |  |  | Yes           |                  2 | On Loan: No      |
| T&D Holdings, Inc.                                    | T&D Holdings, Inc.                                                    | CUSIP: N/A<br>LEI: 3538008ARJ1MACEWA242       | Long             | EC               | CORP              | JP        |    213000 | NS      | $5201191.16   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG         | Muenchener Rueckversicherungs-Gesellschaft AG (Registered)            | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |     23052 | NS      | $15091476.74  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Telenor ASA                                           | Telenor ASA                                                           | CUSIP: N/A<br>LEI: 549300IM1QSBY4SLPM26       | Long             | EC               | CORP              | NO        |    266552 | NS      | $4089148.59   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Forvia SE                                             | Forvia SE                                                             | CUSIP: N/A<br>LEI: 969500F0VMZLK2IULV85       | Long             | EC               | CORP              | FR        |    106071 | NS      | $1348506.89   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Umicore SA                                            | Umicore SA                                                            | CUSIP: N/A<br>LEI: 529900F3AIQECS8ZSV61       | Long             | EC               | CORP              | BE        |    193775 | NS      | $3062377.89   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                          | ING Groep NV                                                          | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    566514 | NS      | $13202861.38  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Saison Co. Ltd.                                | Credit Saison Co. Ltd.                                                | CUSIP: N/A<br>LEI: 529900SV58ZWTGRH3A66       | Long             | EC               | CORP              | JP        |    125800 | NS      | $3319048.09   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| NN Group NV                                           | NN Group NV                                                           | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |     89620 | NS      | $6034624.54   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyu Fudosan Holdings Corp.                          | Tokyu Fudosan Holdings Corp.                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    583900 | NS      | $4117461.80   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEOS Holdings, Inc.                                  | ENEOS Holdings, Inc.                                                  | CUSIP: N/A<br>LEI: 3538001KQ5SAOZSQTT44       | Long             | EC               | CORP              | JP        |    843000 | NS      | $4424599.89   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Freenet AG                                            | Freenet AG                                                            | CUSIP: N/A<br>LEI: 5299003GLDODCVP8DO20       | Long             | EC               | CORP              | DE        |     72688 | NS      | $2357480.05   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Vienna Insurance Group AG Wiener Versicherung Gruppe  | Vienna Insurance Group AG Wiener Versicherung Gruppe                  | CUSIP: N/A<br>LEI: 549300JCRU23I1THU176       | Long             | EC               | CORP              | AT        |     79410 | NS      | $4190045.27   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Ayvens SA                                             | Ayvens SA                                                             | CUSIP: N/A<br>LEI: 969500E7V019H9NP7427       | Long             | EC               | CORP              | FR        |    222222 | NS      | $2387888.26   | 0.17%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Asahi Kasei Corp.                                     | Asahi Kasei Corp.                                                     | CUSIP: N/A<br>LEI: 353800GPI4Z3MGDGN142       | Long             | EC               | CORP              | JP        |    458500 | NS      | $3190132.69   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Glanbia plc                                           | Glanbia plc                                                           | CUSIP: N/A<br>LEI: 635400SRMCBHVMSKJS84       | Long             | EC               | CORP              | IE        |    227884 | NS      | $3311131.18   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                             | Sanofi SA                                                             | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |     94886 | NS      | $8517987.50   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortescue Ltd.                                        | Fortescue Ltd.                                                        | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |    418672 | NS      | $4736964.79   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK plc                                               | GSK plc                                                               | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |    822033 | NS      | $15120473.66  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Corp.                                        | Sumitomo Corp.                                                        | CUSIP: N/A<br>LEI: V82KK8NH1P0JS71FJC05       | Long             | EC               | CORP              | JP        |    317600 | NS      | $8117784.80   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Airlines Co. Ltd.                               | Japan Airlines Co. Ltd.                                               | CUSIP: N/A<br>LEI: 3538002MH5L1QZZ93477       | Long             | EC               | CORP              | JP        |    224900 | NS      | $4465952.29   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco plc                          | British American Tobacco plc                                          | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |    341345 | NS      | $18288362.40  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyo Tire Corp.                                       | Toyo Tire Corp.                                                       | CUSIP: N/A<br>LEI: 529900Y41RD7VQM9RF75       | Long             | EC               | CORP              | JP        |     96700 | NS      | $2048208.27   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Swedbank AB                                           | Swedbank AB, Class A                                                  | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               | CORP              | SE        |    189820 | NS      | $5054536.42   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Drax Group plc                                        | Drax Group plc                                                        | CUSIP: N/A<br>LEI: 549300YPSNTXR4ZHSR98       | Long             | EC               | CORP              | GB        |    215298 | NS      | $2010786.07   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Deme Group NV                                         | Deme Group NV                                                         | CUSIP: N/A<br>LEI: 549300FPFPQPKI3PJV37       | Long             | EC               | CORP              | BE        |     15149 | NS      | $2267337.94   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Komatsu Ltd.                                          | Komatsu Ltd.                                                          | CUSIP: N/A<br>LEI: 5493004LQ0B4T7QPQV17       | Long             | EC               | CORP              | JP        |    175600 | NS      | $5657463.44   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Dai-ichi Life Holdings, Inc.                          | Dai-ichi Life Holdings, Inc.                                          | CUSIP: N/A<br>LEI: 549300ZUFXI7JXZVTZ25       | Long             | EC               | CORP              | JP        |    744000 | NS      | $5886663.78   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Holdings, Inc.                                    | SBI Holdings, Inc.                                                    | CUSIP: N/A<br>LEI: 353800L6LMHYIPSMRQ17       | Long             | EC               | CORP              | JP        |    175700 | NS      | $6526879.68   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                | Mercedes-Benz Group AG                                                | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |    130311 | NS      | $7378245.31   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Yancoal Australia Ltd.                                | Yancoal Australia Ltd.                                                | CUSIP: N/A<br>LEI: 3003003IC6G39HKQAD13       | Long             | EC               | CORP              | AU        |    590784 | NS      | $2386028.71   | 0.17%             |  |  |  | No            |                  2 | On Loan: —       |
| TBS Holdings, Inc.                                    | TBS Holdings, Inc.                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     54000 | NS      | $1776284.25   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                              | Svenska Handelsbanken AB, Class A                                     | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | EC               | CORP              | SE        |    328247 | NS      | $3999485.68   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Marks & Spencer Group plc                             | Marks & Spencer Group plc                                             | CUSIP: N/A<br>LEI: 213800EJP14A79ZG1X44       | Long             | EC               | CORP              | GB        |    698975 | NS      | $3210107.02   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Gas Co. Ltd.                                    | Tokyo Gas Co. Ltd.                                                    | CUSIP: N/A<br>LEI: 353800678EIJLOQSWZ83       | Long             | EC               | CORP              | JP        |     73900 | NS      | $2474807.35   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays plc                                          | Barclays plc                                                          | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |   2591867 | NS      | $12669099.73  | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                              | Lloyds Banking Group plc                                              | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        |  10986672 | NS      | $11266264.85  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenaris SA                                            | Tenaris SA                                                            | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | LU        |    116359 | NS      | $2032230.90   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Kansai Paint Co. Ltd.                                 | Kansai Paint Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 549300ERRV6FTKH9NN70       | Long             | EC               | CORP              | JP        |    169100 | NS      | $2394439.59   | 0.17%             |  |  |  | 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        |    245261 | NS      | $3288945.18   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                        | BNP Paribas SA                                                        | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |    175664 | NS      | $16016741.45  | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Sankyo Co. Ltd.                                       | Sankyo Co. Ltd.                                                       | CUSIP: N/A<br>LEI: 3538009H2R9ZBZAOAK48       | Long             | EC               | CORP              | JP        |    155300 | NS      | $2897944.23   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| NCC AB                                                | NCC AB, Class B                                                       | CUSIP: N/A<br>LEI: 213800WRGLW3CY4MHW53       | Long             | EC               | CORP              | SE        |    101396 | NS      | $1919962.33   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Post AG                                      | Deutsche Post AG                                                      | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |    174536 | NS      | $7820214.91   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Serco Group plc                                       | Serco Group plc                                                       | CUSIP: N/A<br>LEI: 549300PT2CIHYN5GWJ21       | Long             | EC               | CORP              | GB        |    650893 | NS      | $1793512.23   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Banca Monte dei Paschi di Siena SpA                   | Banca Monte dei Paschi di Siena SpA                                   | CUSIP: N/A<br>LEI: J4CP7MHCXR8DAQMKIL78       | Long             | EC               | CORP              | IT        |    167041 | NS      | $1422091.42   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kerry Properties Ltd.                                 | Kerry Properties Ltd.                                                 | CUSIP: N/A<br>LEI: 5299006T5ULIIRZ7LK49       | Long             | EC               | CORP              | BM        |   1611000 | NS      | $4301536.66   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Catalana Occidente SA                           | Grupo Catalana Occidente SA                                           | CUSIP: N/A<br>LEI: 959800H2P9S8MS95DT42       | Long             | EC               | CORP              | ES        |     54115 | NS      | $3019870.26   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ageas SA                                              | Ageas SA                                                              | CUSIP: N/A<br>LEI: 5493005DJBML6LY3RV36       | Long             | EC               | CORP              | BE        |     47165 | NS      | $3206857.13   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Aegon Ltd.                                            | Aegon Ltd.                                                            | CUSIP: N/A<br>LEI: O4QK7KMMK83ITNTHUG69       | Long             | EC               | CORP              | BM        |    486622 | NS      | $3477660.31   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Balfour Beatty plc                                    | Balfour Beatty plc                                                    | CUSIP: N/A<br>LEI: CT4UIJ3TUKGYYHMENQ17       | Long             | EC               | CORP              | GB        |    261018 | NS      | $1865365.39   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| MS&AD Insurance Group Holdings, Inc.                  | MS&AD Insurance Group Holdings, Inc.                                  | CUSIP: N/A<br>LEI: 529900CXROT5S2HMMP26       | Long             | EC               | CORP              | JP        |    279500 | NS      | $5971819.67   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Panasonic Holdings Corp.                              | Panasonic Holdings Corp.                                              | CUSIP: N/A<br>LEI: 254900GE1G59KGWPHX32       | Long             | EC               | CORP              | JP        |    481600 | NS      | $4555608.64   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential plc                                        | Prudential plc                                                        | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               | CORP              | GB        |    562785 | NS      | $7139595.57   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore plc                                          | Glencore plc                                                          | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |   1490869 | NS      | $5983342.78   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| CK Asset Holdings Ltd.                                | CK Asset Holdings Ltd.                                                | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | KY        |    806000 | NS      | $3693254.87   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Mapfre SA                                             | Mapfre SA                                                             | CUSIP: N/A<br>LEI: 95980020140005693107       | Long             | EC               | CORP              | ES        |    360645 | NS      | $1468756.59   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer AG                                              | Bayer AG (Registered)                                                 | CUSIP: N/A<br>LEI: 549300J4U55H3WP1XT59       | Long             | EC               | CORP              | DE        |    147890 | NS      | $4599638.95   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| QBE Insurance Group Ltd.                              | QBE Insurance Group Ltd.                                              | CUSIP: N/A<br>LEI: 549300D2FBW76FPUSG65       | Long             | EC               | CORP              | AU        |    275916 | NS      | $4092999.03   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Lancashire Holdings Ltd.                              | Lancashire Holdings Ltd.                                              | CUSIP: N/A<br>LEI: 5493002UNUYXLHOWF752       | Long             | EC               | CORP              | BM        |    377589 | NS      | $3121629.83   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kandenko Co. Ltd.                                     | Kandenko Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 35380080NSN7GCYZ3X14       | Long             | EC               | CORP              | JP        |     96500 | NS      | $2285990.86   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| AXA SA                                                | AXA SA                                                                | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |    307233 | NS      | $14922062.61  | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Television Francaise 1 SA                             | Television Francaise 1 SA                                             | CUSIP: N/A<br>LEI: 969500WQFC6OAQYG7E65       | Long             | EC               | CORP              | FR        |    145665 | NS      | $1392773.10   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kalmar OYJ                                            | Kalmar OYJ, Class B                                                   | CUSIP: N/A<br>LEI: 636700Z25ZQXLMZ3CY73       | Long             | EC               | CORP              | FI        |     88438 | NS      | $3991034.89   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| OMV AG                                                | OMV AG                                                                | CUSIP: N/A<br>LEI: 549300V62YJ9HTLRI486       | Long             | EC               | CORP              | AT        |     86274 | NS      | $4393797.61   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Kier Group plc                                        | Kier Group plc                                                        | CUSIP: N/A<br>LEI: 2138002RKCU2OM4Y7O48       | Long             | EC               | CORP              | GB        |   1372986 | NS      | $3589129.34   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Kamigumi Co. Ltd.                                     | Kamigumi Co. Ltd.                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     57200 | NS      | $1607518.79   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| HOCHTIEF AG                                           | HOCHTIEF AG                                                           | CUSIP: N/A<br>LEI: 529900Y25S8NZIYTT924       | Long             | EC               | CORP              | DE        |     24249 | NS      | $5283701.43   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| TP ICAP Group plc                                     | TP ICAP Group plc                                                     | CUSIP: N/A<br>LEI: 2138006YAA7IRVKKGE63       | Long             | EC               | CORP              | JE        |    442514 | NS      | $1786336.95   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Mining & Smelting Co. Ltd.                     | Mitsui Mining & Smelting Co. Ltd.                                     | CUSIP: N/A<br>LEI: 35380021EYAHSQM25559       | Long             | EC               | CORP              | JP        |     63500 | NS      | $2685774.75   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Resona Holdings, Inc.                                 | Resona Holdings, Inc.                                                 | CUSIP: N/A<br>LEI: 52990067JE75XZCYYT81       | Long             | EC               | CORP              | JP        |    450900 | NS      | $4104996.37   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                                    | Banco Santander SA                                                    | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |   1938355 | NS      | $16652003.99  | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Enel SpA                                              | Enel SpA                                                              | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |   1663600 | NS      | $14670112.70  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Eiffage SA                                            | Eiffage SA                                                            | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |     21547 | NS      | $2892371.49   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Imperial Brands plc                                   | Imperial Brands plc                                                   | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |    225512 | NS      | $8790319.51   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Glenveagh Properties plc                              | Glenveagh Properties plc                                              | CUSIP: N/A<br>LEI: 635400QUQ2YYGMOAK834       | Long             | EC               | CORP              | IE        |   1246152 | NS      | $2657876.03   | 0.18%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Konecranes OYJ                                        | Konecranes OYJ                                                        | CUSIP: N/A<br>LEI: 549300EF0CDEQZBMA096       | Long             | EC               | CORP              | FI        |     37486 | NS      | $3123788.92   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco de Sabadell SA                                  | Banco de Sabadell SA                                                  | CUSIP: N/A<br>LEI: SI5RG2M0WQQLZCXKRM20       | Long             | EC               | CORP              | ES        |   1296473 | NS      | $4785159.13   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiwa Securities Group, Inc.                          | Daiwa Securities Group, Inc.                                          | CUSIP: N/A<br>LEI: 353800WRC7Y23PWFJG38       | Long             | EC               | CORP              | JP        |    607000 | NS      | $4225847.14   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Cosmo Energy Holdings Co. Ltd.                        | Cosmo Energy Holdings Co. Ltd.                                        | CUSIP: N/A<br>LEI: 353800Y4GZ7KR5X7L150       | Long             | EC               | CORP              | JP        |     48600 | NS      | $2156995.21   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesco plc                                             | Tesco plc                                                             | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |   1003911 | NS      | $5640395.14   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyocera Corp.                                         | Kyocera Corp.                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    414200 | NS      | $4889371.64   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Commerzbank AG                                        | Commerzbank AG                                                        | CUSIP: N/A<br>LEI: 851WYGNLUQLFZBSYGB56       | Long             | EC               | CORP              | DE        |    189653 | NS      | $6915860.93   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| 3i Group plc                                          | 3i Group plc                                                          | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |    166028 | NS      | $9072130.09   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| NOS SGPS SA                                           | NOS SGPS SA                                                           | CUSIP: N/A<br>LEI: 5493004DM8FGIY6QKF37       | Long             | EC               | CORP              | PT        |    449354 | NS      | $1852294.79   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| BP plc                                                | BP plc                                                                | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |   1047336 | NS      | $5614017.73   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Ventia Services Group Pty. Ltd.                       | Ventia Services Group Pty. Ltd.                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    441948 | NS      | $1471593.75   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Renault SA                                            | Renault SA                                                            | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | EC               | CORP              | FR        |     92667 | NS      | $3428753.31   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ISS A/S                                               | ISS A/S                                                               | CUSIP: N/A<br>LEI: 213800LEZA58SZNCBN19       | Long             | EC               | CORP              | DK        |     74054 | NS      | $2128782.87   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| IPSOS SA                                              | IPSOS SA                                                              | CUSIP: N/A<br>LEI: 9695002OY2X35E9X8W87       | Long             | EC               | CORP              | FR        |     38844 | NS      | $1744187.62   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| DOF Group ASA                                         | DOF Group ASA                                                         | CUSIP: N/A<br>LEI: 213800GIV9N2A714T434       | Long             | EC               | CORP              | NO        |    233961 | NS      | $2142221.21   | 0.15%             |  |  |  | No            |                  2 | On Loan: —       |
| AGL Energy Ltd.                                       | AGL Energy Ltd.                                                       | CUSIP: N/A<br>LEI: 549300QAZ8A74DEDXO80       | Long             | EC               | CORP              | AU        |    651948 | NS      | $4063004.13   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Saipem SpA                                            | Saipem SpA                                                            | CUSIP: N/A<br>LEI: 549300PHV8MBDHWB8X12       | Long             | EC               | CORP              | IT        |    927891 | NS      | $2480282.43   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Tsubakimoto Chain Co.                                 | Tsubakimoto Chain Co.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    137100 | NS      | $1924312.59   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Insignia Financial Ltd.                               | Insignia Financial Ltd.                                               | CUSIP: N/A<br>LEI: 5493000NLB9VUM2IHC87       | Long             | EC               | CORP              | AU        |   1281472 | NS      | $3691639.82   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                   | Societe Generale SA                                                   | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |    144330 | NS      | $9212378.08   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Osaka Gas Co. Ltd.                                    | Osaka Gas Co. Ltd.                                                    | CUSIP: N/A<br>LEI: 353800024KMNOPQRWZ02       | Long             | EC               | CORP              | JP        |    132800 | NS      | $3360018.74   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| MFE-MediaForEurope NV                                 | MFE-MediaForEurope NV, Class B                                        | CUSIP: N/A<br>LEI: 213800DIFN7NR7B97A50       | Long             | EC               | CORP              | NL        |    267973 | NS      | $1204241.43   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Open House Group Co. Ltd.                             | Open House Group Co. Ltd.                                             | CUSIP: N/A<br>LEI: 529900WQOGPBIJEHW865       | Long             | EC               | CORP              | JP        |     94500 | NS      | $4178831.17   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Electric Industries Ltd.                     | Sumitomo Electric Industries Ltd.                                     | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |    259300 | NS      | $6434451.58   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                       | Danske Bank A/S                                                       | CUSIP: N/A<br>LEI: MAES062Z21O4RZ2U7M96       | Long             | EC               | CORP              | DK        |    145647 | NS      | $5778031.55   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Pirelli & C SpA                                       | Pirelli & C SpA                                                       | CUSIP: N/A<br>LEI: 815600A0C9AFC1F2A709       | Long             | EC               | CORP              | IT        |    205692 | NS      | $1386646.85   | 0.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| IG Group Holdings plc                                 | IG Group Holdings plc                                                 | CUSIP: N/A<br>LEI: 2138003A5Q1M7ANOUD76       | Long             | EC               | CORP              | GB        |    109291 | NS      | $1627431.91   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Tsusho Corp.                                   | Toyota Tsusho Corp.                                                   | CUSIP: N/A<br>LEI: 549300CEE2ENIUJNXB84       | Long             | EC               | CORP              | JP        |    167200 | NS      | $3831946.21   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Betsson AB                                            | Betsson AB, Class B                                                   | CUSIP: N/A<br>LEI: 549300W61XW8OFGBG077       | Long             | EC               | CORP              | SE        |     87772 | NS      | $1486189.08   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Yamato Kogyo Co. Ltd.                                 | Yamato Kogyo Co. Ltd.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     24400 | NS      | $1369171.75   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Nokia OYJ                                             | Nokia OYJ                                                             | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | FI        |   1007477 | NS      | $4105820.31   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Phoenix Group Holdings plc                            | Phoenix Group Holdings plc                                            | CUSIP: N/A<br>LEI: 2138001P49OLAEU33T68       | Long             | EC               | CORP              | GB        |    471417 | NS      | $4122575.59   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| BFF Bank SpA                                          | BFF Bank SpA                                                          | CUSIP: N/A<br>LEI: 815600522538355AE429       | Long             | EC               | CORP              | IT        |    157230 | NS      | $1866665.79   | 0.13%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Burberry Group plc                                    | Burberry Group plc                                                    | CUSIP: N/A<br>LEI: 213800PE1KEFCNFR1R50       | Long             | EC               | CORP              | GB        |    122759 | NS      | $2082347.99   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Investec plc                                          | Investec plc                                                          | CUSIP: N/A<br>LEI: 2138007Z3U5GWDN3MY22       | Long             | EC               | CORP              | GB        |    277138 | NS      | $2055102.91   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Greencore Group plc                                   | Greencore Group plc                                                   | CUSIP: N/A<br>LEI: 635400GGBEWULJXM5868       | Long             | EC               | CORP              | IE        |    534313 | NS      | $1813495.99   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BPER Banca SpA                                        | BPER Banca SpA                                                        | CUSIP: N/A<br>LEI: N747OI7JINV7RUUH6190       | Long             | EC               | CORP              | IT        |    360990 | NS      | $3552331.30   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Avolta AG                                             | Avolta AG                                                             | CUSIP: N/A<br>LEI: 549300X53WDBVW7TIF57       | Long             | EC               | CORP              | CH        |     26425 | NS      | $1373665.58   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                   | Intesa Sanpaolo SpA                                                   | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |   2629001 | NS      | $15840432.61  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd.                                        | BHP Group Ltd.                                                        | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |    793459 | NS      | $20038995.33  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                 | Sumitomo Mitsui Financial Group, Inc.                                 | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               | CORP              | JP        |    635400 | NS      | $16028988.81  | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Unicaja Banco SA                                      | Unicaja Banco SA                                                      | CUSIP: N/A<br>LEI: 5493007SJLLCTM6J6M37       | Long             | EC               | CORP              | ES        |    841157 | NS      | $2210055.27   | 0.15%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hakuhodo DY Holdings, Inc.                            | Hakuhodo DY Holdings, Inc.                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    307400 | NS      | $2419065.31   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Great Portland Estates plc                            | Great Portland Estates plc                                            | CUSIP: N/A<br>LEI: 213800JMEDD2Q4N1MC42       | Long             | EC               | CORP              | GB        |    360315 | NS      | $1615510.77   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| First Pacific Co. Ltd.                                | First Pacific Co. Ltd.                                                | CUSIP: N/A<br>LEI: 254900VS1MDQSDM9DE09       | Long             | EC               | CORP              | BM        |   5870000 | NS      | $4618666.53   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyoda Gosei Co. Ltd.                                 | Toyoda Gosei Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 353800ZV4HXVM4DWPO50       | Long             | EC               | CORP              | JP        |    160300 | NS      | $3382976.47   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| SBM Offshore NV                                       | SBM Offshore NV                                                       | CUSIP: N/A<br>LEI: 549300RDGCRYZ5QE6513       | Long             | EC               | CORP              | NL        |     73742 | NS      | $1923137.33   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Talanx AG                                             | Talanx AG                                                             | CUSIP: N/A<br>LEI: 5299006ZIILJ6VJVSJ32       | Long             | EC               | CORP              | DE        |     19566 | NS      | $2593417.86   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Carnival plc                                          | Carnival plc                                                          | CUSIP: N/A<br>LEI: 4DR1VPDQMHD3N3QW8W95       | Long             | EC               | CORP              | GB        |     82933 | NS      | $2256687.83   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                  | Mitsubishi UFJ Financial Group, Inc.                                  | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |   1869100 | NS      | $25761372.79  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Modec, Inc.                                           | Modec, Inc.                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    131600 | NS      | $5606909.78   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Niterra Co. Ltd.                                      | Niterra Co. Ltd.                                                      | CUSIP: N/A<br>LEI: 549300RG3XQGTFM4HH31       | Long             | EC               | CORP              | JP        |     43700 | NS      | $1506501.56   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Hochschild Mining plc                                 | Hochschild Mining plc                                                 | CUSIP: N/A<br>LEI: 549300JK10TVQ3CCJQ89       | Long             | EC               | CORP              | GB        |    624344 | NS      | $2294510.18   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson Matthey plc                                   | Johnson Matthey plc                                                   | CUSIP: N/A<br>LEI: 2138001AVBSD1HSC6Z10       | Long             | EC               | CORP              | GB        |     77861 | NS      | $1814224.06   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Keller Group plc                                      | Keller Group plc                                                      | CUSIP: N/A<br>LEI: 549300QO4MBL43UHSN10       | Long             | EC               | CORP              | GB        |    103751 | NS      | $1812166.03   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurocommercial Properties NV                          | Eurocommercial Properties NV                                          | CUSIP: N/A<br>LEI: 724500SFK53FPNM68L95       | Long             | EC               | CORP              | NL        |     49385 | NS      | $1507381.08   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG                                   | Erste Group Bank AG                                                   | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |     66382 | NS      | $6070233.93   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                                 | Nomura Holdings, Inc.                                                 | CUSIP: N/A<br>LEI: 549300B3CEAHYG7K8164       | Long             | EC               | CORP              | JP        |   1072200 | NS      | $7083272.20   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Vonovia SE                                            | Vonovia SE                                                            | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               | CORP              | DE        |    174782 | NS      | $5424462.30   | 0.38%             |  |  |  | No            |                  2 | On Loan: —       |
| Perseus Mining Ltd.                                   | Perseus Mining Ltd.                                                   | CUSIP: N/A<br>LEI: 54930054ZDGKBCW3SM26       | Long             | EC               | CORP              | AU        |    658904 | NS      | $1375599.46   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Securities Lending Money Market Fund         | JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares | CUSIP: 46645V642<br>LEI: 5493002FD4HXUJXMRO62 | Long             | STIV             | RF                | US        |  11405128 | NS      | $11405127.75  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Hang Lung Properties Ltd.                             | Hang Lung Properties Ltd.                                             | CUSIP: N/A<br>LEI: 529900CIVTNMXQT59E61       | Long             | EC               | CORP              | HK        |   4357000 | NS      | $4487095.18   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| LEG Immobilien SE                                     | LEG Immobilien SE                                                     | CUSIP: N/A<br>LEI: 391200SO40AKONBO0Z96       | Long             | EC               | CORP              | DE        |     34748 | NS      | $2758072.02   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| British Land Co. plc (The)                            | British Land Co. plc (The)                                            | CUSIP: N/A<br>LEI: RV5B68J2GV3QGMRPW209       | Long             | EC               | CORP              | GB        |    224423 | NS      | $1031433.46   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                      | Roche Holding AG                                                      | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |    117771 | NS      | $36753152.65  | 2.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                            | Allianz SE (Registered)                                               | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |     62702 | NS      | $24778454.24  | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuji Media Holdings, Inc.                             | Fuji Media Holdings, Inc.                                             | CUSIP: N/A<br>LEI: 353800TG2T8DSPV7H313       | Long             | EC               | CORP              | JP        |    130900 | NS      | $3085775.21   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| UACJ Corp.                                            | UACJ Corp.                                                            | CUSIP: N/A<br>LEI: 353800GO7FBE4RSRH831       | Long             | EC               | CORP              | JP        |     54200 | NS      | $2132873.71   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker BP ASA                                           | Aker BP ASA                                                           | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |     85222 | NS      | $2050154.48   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Currys plc                                            | Currys plc                                                            | CUSIP: N/A<br>LEI: 2138001E12GWLLDQQF16       | Long             | EC               | CORP              | GB        |   1444408 | NS      | $2153632.33   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp.                                            | KDDI Corp.                                                            | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |    610300 | NS      | $10016009.49  | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                    | Credit Agricole SA                                                    | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | EC               | CORP              | FR        |    223400 | NS      | $4111572.73   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                      | Skandinaviska Enskilda Banken AB, Class A                             | CUSIP: N/A<br>LEI: F3JS33DEI6XQ4ZBPTN86       | Long             | EC               | CORP              | SE        |    334590 | NS      | $5852828.46   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                                               | E.ON SE                                                               | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |    339983 | NS      | $6202395.25   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Sojitz Corp.                                          | Sojitz Corp.                                                          | CUSIP: N/A<br>LEI: 5493004SE33MRLPB1W98       | Long             | EC               | CORP              | JP        |     77320 | NS      | $1840205.41   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell plc                                             | Shell plc                                                             | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    978788 | NS      | $35170912.38  | 2.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Rubis SCA                                             | Rubis SCA                                                             | CUSIP: N/A<br>LEI: 969500MGFIKUGLTC9742       | Long             | EC               | CORP              | FR        |     62513 | NS      | $1979530.01   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Vallourec SACA                                        | Vallourec SACA                                                        | CUSIP: N/A<br>LEI: 969500P2Q1B47H4MCJ34       | Long             | EC               | CORP              | FR        |    120518 | NS      | $2252371.22   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB Group plc                                         | AIB Group plc                                                         | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |    465561 | NS      | $3672650.54   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken Holding NV                                   | Heineken Holding NV                                                   | CUSIP: N/A<br>LEI: 724500M1WJLFM9TYBS04       | Long             | EC               | CORP              | NL        |     83141 | NS      | $5611282.94   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Aroundtown SA                                         | Aroundtown SA                                                         | CUSIP: N/A<br>LEI: 529900H4DWG3KWMBMQ39       | Long             | EC               | CORP              | LU        |    573024 | NS      | $2066380.02   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Yusen KK                                       | Nippon Yusen KK                                                       | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |    181500 | NS      | $6365168.51   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokai Rika Co. Ltd.                                   | Tokai Rika Co. Ltd.                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    113900 | NS      | $1823638.17   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| JET2 plc                                              | JET2 plc                                                              | CUSIP: N/A<br>LEI: I72RQ3PNLDPW8R7JIJ56       | Long             | EC               | CORP              | GB        |    129155 | NS      | $2766415.80   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambea AB                                              | Ambea AB                                                              | CUSIP: N/A<br>LEI: 549300AEVNZRHYI5HV24       | Long             | EC               | CORP              | SE        |    261994 | NS      | $3296019.79   | 0.23%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Marubeni Corp.                                        | Marubeni Corp.                                                        | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |    349600 | NS      | $7157623.34   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                      | ABN AMRO Bank NV                                                      | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |    126746 | NS      | $3664032.25   | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                    | Banco Bilbao Vizcaya Argentaria SA                                    | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |   1008025 | NS      | $16812111.04  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Vicat SACA                                            | Vicat SACA                                                            | CUSIP: N/A<br>LEI: 9695009YI1863TOVDP79       | Long             | EC               | CORP              | FR        |     29460 | NS      | $1907941.90   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Loomis AB                                             | Loomis AB                                                             | CUSIP: N/A<br>LEI: 213800NS2XXVRYS7WP40       | Long             | EC               | CORP              | SE        |     49338 | NS      | $1950790.47   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Swire Properties Ltd.                                 | Swire Properties Ltd.                                                 | CUSIP: N/A<br>LEI: 5299001L12PHYVQ92465       | Long             | EC               | CORP              | HK        |    967400 | NS      | $2592837.13   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Bilfinger SE                                          | Bilfinger SE                                                          | CUSIP: N/A<br>LEI: 529900H0HULEN2BZ4604       | Long             | EC               | CORP              | DE        |     31234 | NS      | $3360320.15   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Aryzta AG                                             | Aryzta AG                                                             | CUSIP: N/A<br>LEI: 549300W2PUDQQVRD8W85       | Long             | EC               | CORP              | CH        |     20456 | NS      | $1919856.20   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp.                                    | Toyota Motor Corp.                                                    | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |    628600 | NS      | $11181290.94  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Tatemono Co. Ltd.                               | Tokyo Tatemono Co. Ltd.                                               | CUSIP: N/A<br>LEI: 529900RQA4JTW1869J86       | Long             | EC               | CORP              | JP        |    226900 | NS      | $3797143.67   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Proximus SADP                                         | Proximus SADP                                                         | CUSIP: N/A<br>LEI: 549300CWRXC5EP004533       | Long             | EC               | CORP              | BE        |    214376 | NS      | $1781194.65   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Premier Foods plc                                     | Premier Foods plc                                                     | CUSIP: N/A<br>LEI: 213800ZD5I8XHNMCJA67       | Long             | EC               | CORP              | GB        |    473618 | NS      | $1205932.40   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ITV plc                                               | ITV plc                                                               | CUSIP: N/A<br>LEI: ZLECI7ED2QMWFGYCXZ59       | Long             | EC               | CORP              | GB        |   1447642 | NS      | $1570245.73   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| WH Group Ltd.                                         | WH Group Ltd.                                                         | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | KY        |   3078000 | NS      | $3081503.90   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Buzzi SpA                                             | Buzzi SpA                                                             | CUSIP: N/A<br>LEI: 5299003DX5YLKSVJ6K59       | Long             | EC               | CORP              | IT        |     30110 | NS      | $1572333.45   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Gunma Bank Ltd. (The)                                 | Gunma Bank Ltd. (The)                                                 | CUSIP: N/A<br>LEI: 54930054A69VC4I5BP89       | Long             | EC               | CORP              | JP        |    163900 | NS      | $1534748.61   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                        | Takeda Pharmaceutical Co. Ltd.                                        | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |    209000 | NS      | $5741186.29   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Storskogen Group AB                                   | Storskogen Group AB, Class B                                          | CUSIP: N/A<br>LEI: 549300DL3K4HLJ41KD24       | Long             | EC               | CORP              | SE        |   1742995 | NS      | $2022969.59   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                         | UniCredit SpA                                                         | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |    166216 | NS      | $12229150.19  | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered plc                                | Standard Chartered plc                                                | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |    427904 | NS      | $7671025.14   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Dunelm Group plc                                      | Dunelm Group plc                                                      | CUSIP: N/A<br>LEI: 213800WCOWEI3T5DUV19       | Long             | EC               | CORP              | GB        |    191985 | NS      | $3079706.72   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Azimut Holding SpA                                    | Azimut Holding SpA                                                    | CUSIP: N/A<br>LEI: 81560025690EF8540635       | Long             | EC               | CORP              | IT        |    135702 | NS      | $4612853.27   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Cairn Homes plc                                       | Cairn Homes plc                                                       | CUSIP: N/A<br>LEI: 635400DPX6WP2KKDOA83       | Long             | EC               | CORP              | IE        |    824294 | NS      | $2050691.80   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Realty & Development Co. Ltd.                | Sumitomo Realty & Development Co. Ltd.                                | CUSIP: N/A<br>LEI: 353800SO2DCLOI3LNZ64       | Long             | EC               | CORP              | JP        |     82800 | NS      | $3024615.32   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Furukawa Electric Co. Ltd.                            | Furukawa Electric Co. Ltd.                                            | CUSIP: N/A<br>LEI: 353800TJR1DQ3P1QR918       | Long             | EC               | CORP              | JP        |     68700 | NS      | $4149600.07   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| easyJet plc                                           | easyJet plc                                                           | CUSIP: N/A<br>LEI: 2138001S47XKWIB7TH90       | Long             | EC               | CORP              | GB        |    285012 | NS      | $1848093.53   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Mining plc                                  | Endeavour Mining plc                                                  | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | EC               | CORP              | GB        |     66595 | NS      | $2020150.07   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Poste Italiane SpA                                    | Poste Italiane SpA                                                    | CUSIP: N/A<br>LEI: 815600354DEDBD0BA991       | Long             | EC               | CORP              | IT        |    190814 | NS      | $4122522.08   | 0.29%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA          | Cie Generale des Etablissements Michelin SCA                          | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |    147833 | NS      | $5259381.90   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Granges AB                                            | Granges AB                                                            | CUSIP: N/A<br>LEI: 5493006UG44TYSIXOB13       | Long             | EC               | CORP              | SE        |     99365 | NS      | $1332398.89   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Volkswagen AG                                         | Volkswagen AG (Preference)                                            | CUSIP: N/A<br>LEI: 529900NNUPAGGOMPXZ31       | Long             | EC               | CORP              | DE        |     45028 | NS      | $4708390.08   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIX Corp.                                            | ORIX Corp.                                                            | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |    283900 | NS      | $6377258.39   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| H Lundbeck A/S                                        | H Lundbeck A/S                                                        | CUSIP: N/A<br>LEI: 5493006R4KC2OI5D3470       | Long             | EC               | CORP              | DK        |    548103 | NS      | $2855484.28   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Inpex Corp.                                           | Inpex Corp.                                                           | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |    428900 | NS      | $6107003.95   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto plc                                         | Rio Tinto plc                                                         | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    261578 | NS      | $15579439.25  | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Centrica plc                                          | Centrica plc                                                          | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |   2412463 | NS      | $5244100.63   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinor ASA                                           | Equinor ASA                                                           | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |    196492 | NS      | $5047404.32   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Bellway plc                                           | Bellway plc                                                           | CUSIP: N/A<br>LEI: 213800CY4L3HST4FGZ98       | Long             | EC               | CORP              | GB        |     55338 | NS      | $1811102.51   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco BPM SpA                                         | Banco BPM SpA                                                         | CUSIP: N/A<br>LEI: 815600E4E6DCD2D25E30       | Long             | EC               | CORP              | IT        |    305283 | NS      | $3893324.83   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Heijmans N.V.                             | Koninklijke Heijmans N.V.                                             | CUSIP: N/A<br>LEI: 724500OUE3PCA809DZ79       | Long             | EC               | CORP              | NL        |     96674 | NS      | $6161691.81   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Millicom International Cellular SA                    | Millicom International Cellular SA                                    | CUSIP: N/A<br>LEI: 549300CTHC1CP86P2G96       | Long             | EC               | CORP              | LU        |     35425 | NS      | $1422313.75   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Plus500 Ltd.                                          | Plus500 Ltd.                                                          | CUSIP: N/A<br>LEI: 549300X8NGW9C5OJZU13       | Long             | EC               | CORP              | IL        |     53790 | NS      | $2387287.14   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresenius SE & Co. KGaA                               | Fresenius SE & Co. KGaA                                               | CUSIP: N/A<br>LEI: XDFJ0CYCOO1FXRFTQS51       | Long             | EC               | CORP              | DE        |    102989 | NS      | $4915736.20   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Carlsberg A/S                                         | Carlsberg A/S, Class B                                                | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |     33064 | NS      | $4121999.74   | 0.29%             |  |  |  | No            |                  2 | On Loan: —       |
| Tokuyama Corp.                                        | Tokuyama Corp.                                                        | CUSIP: N/A<br>LEI: 529900MHGZKHNMNCQB62       | Long             | EC               | CORP              | JP        |    211300 | NS      | $4524921.84   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                      | TotalEnergies SE                                                      | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |    336115 | NS      | $19987247.80  | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Iveco Group NV                                        | Iveco Group NV                                                        | CUSIP: N/A<br>LEI: 549300ZWF2ZJDD9EOR96       | Long             | EC               | CORP              | NL        |     79677 | NS      | $1646912.09   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                              | Engie SA                                                              | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |    360422 | NS      | $8101651.24   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| ProSiebenSat.1 Media SE                               | ProSiebenSat.1 Media SE                                               | CUSIP: N/A<br>LEI: 529900NY0WWQUKOMWQ37       | Long             | EC               | CORP              | DE        |    280556 | NS      | $2557293.58   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Dometic Group AB                                      | Dometic Group AB                                                      | CUSIP: N/A<br>LEI: 549300STIPMK5VSA7Y59       | Long             | EC               | CORP              | SE        |    206854 | NS      | $1044908.55   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BT Group plc                                          | BT Group plc                                                          | CUSIP: N/A<br>LEI: 213800LRO7NS5CYQMN21       | Long             | EC               | CORP              | GB        |   1786888 | NS      | $4880059.39   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayerische Motoren Werke AG                           | Bayerische Motoren Werke AG                                           | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |     44221 | NS      | $4207694.66   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                             | Nestle SA (Registered)                                                | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |     46639 | NS      | $4075179.69   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                          | KBC Group NV                                                          | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |     51259 | NS      | $5346519.93   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Sindall Group plc                              | Morgan Sindall Group plc                                              | CUSIP: N/A<br>LEI: 2138008339ULDGZRB345       | Long             | EC               | CORP              | GB        |     24442 | NS      | $1482876.94   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Telekom Austria AG                                    | Telekom Austria AG                                                    | CUSIP: N/A<br>LEI: 529900KCNFQU5OJH7L33       | Long             | EC               | CORP              | AT        |    207276 | NS      | $2199853.35   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sydbank A/S                                           | Sydbank A/S                                                           | CUSIP: N/A<br>LEI: GP5DT10VX1QRQUKVBK64       | Long             | EC               | CORP              | DK        |     25908 | NS      | $1919452.09   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Hornbach Holding AG & Co. KGaA                        | Hornbach Holding AG & Co. KGaA                                        | CUSIP: N/A<br>LEI: 529900EGQZ79V21LBL44       | Long             | EC               | CORP              | DE        |     14604 | NS      | $1717193.97   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Petroleum Exploration Co. Ltd.                  | Japan Petroleum Exploration Co. Ltd.                                  | CUSIP: N/A<br>LEI: 549300WXUNBZ356DMN17       | Long             | EC               | CORP              | JP        |    234600 | NS      | $1703823.13   | 0.12%             |  |  |  | No            |                  2 | On Loan: —       |
| Unipol Assicurazioni SpA                              | Unipol Assicurazioni SpA                                              | CUSIP: N/A<br>LEI: 8156005CE5E7340CCA86       | Long             | EC               | CORP              | IT        |    293849 | NS      | $5893939.67   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Rubber Industries Ltd.                       | Sumitomo Rubber Industries Ltd.                                       | CUSIP: N/A<br>LEI: 353800JD4V72SJ3EOX37       | Long             | EC               | CORP              | JP        |    202900 | NS      | $2319039.79   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BOC Hong Kong Holdings Ltd.                           | BOC Hong Kong Holdings Ltd.                                           | CUSIP: N/A<br>LEI: 254900JB98W77JDJMW15       | Long             | EC               | CORP              | HK        |    864000 | NS      | $3879583.33   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                       | Nordea Bank Abp                                                       | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |    247863 | NS      | $3618976.17   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Millicom International Cellular SA                    | Millicom International Cellular SA                                    | CUSIP: N/A<br>LEI: 549300CTHC1CP86P2G96       | Long             | EC               | CORP              | LU        |      1764 | NS      | $70824.60     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Yangzijiang Shipbuilding Holdings Ltd.                | Yangzijiang Shipbuilding Holdings Ltd.                                | CUSIP: N/A<br>LEI: 254900Z3JEM14YIGLM66       | Long             | EC               | CORP              | SG        |   2520800 | NS      | $4944370.36   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Tele2 AB                                              | Tele2 AB, Class B                                                     | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |    225966 | NS      | $3492332.47   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Danieli & C Officine Meccaniche SpA                   | Danieli & C Officine Meccaniche SpA                                   | CUSIP: N/A<br>LEI: 815600B4B8C6A353E566       | Long             | EC               | CORP              | IT        |     68437 | NS      | $2225017.41   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Coface SA                                             | Coface SA                                                             | CUSIP: N/A<br>LEI: 96950025N07LTJYFSN57       | Long             | EC               | CORP              | FR        |     96761 | NS      | $1799047.55   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| OCI NV                                                | OCI NV                                                                | CUSIP: N/A<br>LEI: 549300NCMRGIBJYUOE57       | Long             | EC               | CORP              | NL        |    282793 | NS      | $2355499.67   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Heidelberg Materials AG                               | Heidelberg Materials AG                                               | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |     19970 | NS      | $4606974.30   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                          | CaixaBank SA                                                          | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |    776077 | NS      | $7301574.14   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                   | Deutsche Telekom AG (Registered)                                      | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |    498538 | NS      | $17880525.29  | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Steel Manufacturing Co. Ltd.                    | Tokyo Steel Manufacturing Co. Ltd.                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    175400 | NS      | $1825009.65   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                           | Novartis AG (Registered)                                              | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    156168 | NS      | $17785517.51  | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Sompo Holdings, Inc.                                  | Sompo Holdings, Inc.                                                  | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |    117400 | NS      | $3461780.17   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglo American plc                                    | Anglo American plc                                                    | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |    238648 | NS      | $6715103.90   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| AerCap Holdings NV                                    | AerCap Holdings NV                                                    | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |     46032 | NS      | $4936932.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Paragon Banking Group plc                             | Paragon Banking Group plc                                             | CUSIP: N/A<br>LEI: 213800S1TDKIB1IUTS72       | Long             | EC               | CORP              | GB        |    232708 | NS      | $2775156.06   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Havas NV                                              | Havas NV                                                              | CUSIP: N/A<br>LEI: 894500L53AVOFQK7T710       | Long             | EC               | CORP              | NL        |    887267 | NS      | $1425242.14   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| SAF-Holland SE                                        | SAF-Holland SE                                                        | CUSIP: N/A<br>LEI: 222100QJQLUJHWREL058       | Long             | EC               | CORP              | DE        |     80093 | NS      | $1444809.72   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| International Consolidated Airlines Group SA          | International Consolidated Airlines Group SA                          | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | EC               | CORP              | ES        |    620305 | NS      | $3099411.08   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Real Estate Holdings, Inc.                     | Nomura Real Estate Holdings, Inc.                                     | CUSIP: N/A<br>LEI: 353800UZ91CT24OL9P59       | Long             | EC               | CORP              | JP        |    284000 | NS      | $1573818.57   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| B&M European Value Retail SA                          | B&M European Value Retail SA                                          | CUSIP: N/A<br>LEI: 213800UK7ZRLY2K1X530       | Long             | EC               | CORP              | LU        |    502539 | NS      | $1485441.06   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Suzuki Motor Corp.                                    | Suzuki Motor Corp.                                                    | CUSIP: N/A<br>LEI: 353800D83H0V3ZV1SV24       | Long             | EC               | CORP              | JP        |    409700 | NS      | $4501608.97   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings plc                                     | HSBC Holdings plc                                                     | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |   2820084 | NS      | $34357007.38  | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                       | Nordea Bank Abp                                                       | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |    321283 | NS      | $4688094.07   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Pennon Group plc                                      | Pennon Group plc                                                      | CUSIP: N/A<br>LEI: 213800V1CCTS41GWH423       | Long             | EC               | CORP              | GB        |    396831 | NS      | $2621634.65   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Wereldhave NV                                         | Wereldhave NV                                                         | CUSIP: N/A<br>LEI: 724500YRQCY3BD9RJZ92       | Long             | EC               | CORP              | NL        |    128077 | NS      | $2621510.55   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Continental AG                                        | Continental AG                                                        | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               | CORP              | DE        |     47809 | NS      | $4083399.23   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke BAM Groep NV                              | Koninklijke BAM Groep NV                                              | CUSIP: N/A<br>LEI: 724500V38C5KTDY5BS93       | Long             | EC               | CORP              | NL        |    570481 | NS      | $4980440.07   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Isuzu Motors Ltd.                                     | Isuzu Motors Ltd.                                                     | CUSIP: N/A<br>LEI: 529900C0QSXVCC7AR494       | Long             | EC               | CORP              | JP        |    231700 | NS      | $2969470.26   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Aiful Corp.                                           | Aiful Corp.                                                           | CUSIP: N/A<br>LEI: 5299005WK14QZ676ZY35       | Long             | EC               | CORP              | JP        |   1500000 | NS      | $4432238.83   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker Solutions ASA                                    | Aker Solutions ASA                                                    | CUSIP: N/A<br>LEI: 5967007LIEEXZXG42836       | Long             | EC               | CORP              | NO        |    471699 | NS      | $1395145.39   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Webuild SpA                                           | Webuild SpA                                                           | CUSIP: N/A<br>LEI: 549300UKR289DF4UXQ47       | Long             | EC               | CORP              | IT        |    454460 | NS      | $2045367.71   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Land Securities Group plc                             | Land Securities Group plc                                             | CUSIP: N/A<br>LEI: 213800V8IAVKS37D6B88       | Long             | EC               | CORP              | GB        |    411188 | NS      | $3127061.82   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group plc                                     | NatWest Group plc                                                     | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |   1505303 | NS      | $10449185.86  | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Century Corp.                                   | Tokyo Century Corp.                                                   | CUSIP: N/A<br>LEI: 35380096ZLHOF84DXR74       | Long             | EC               | CORP              | JP        |    384600 | NS      | $4401648.58   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Swiss Re AG                                           | Swiss Re AG                                                           | CUSIP: N/A<br>LEI: 529900PS9YW3YY29F326       | Long             | EC               | CORP              | CH        |     54130 | NS      | $9689345.42   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Airport Terminal Co. Ltd.                       | Japan Airport Terminal Co. Ltd.                                       | CUSIP: N/A<br>LEI: 353800W9WEQSGUY2EO26       | Long             | EC               | CORP              | JP        |     62500 | NS      | $1898102.86   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| SSE plc                                               | SSE plc                                                               | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |    170636 | NS      | $4182671.31   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| United Laboratories International Holdings Ltd. (The) | United Laboratories International Holdings Ltd. (The)                 | CUSIP: N/A<br>LEI: 2549007JL3XIH77JXN70       | Long             | EC               | CORP              | KY        |   1072000 | NS      | $2009519.86   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                          | DNB Bank ASA                                                          | CUSIP: N/A<br>LEI: 549300GKFG0RYRRQ1414       | Long             | EC               | CORP              | NO        |    195826 | NS      | $4954348.45   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Amada Co. Ltd.                                        | Amada Co. Ltd.                                                        | CUSIP: N/A<br>LEI: 529900QF5O6TQGCPDX85       | Long             | EC               | CORP              | JP        |    140000 | NS      | $1578629.99   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR Nederland NV                                      | ASR Nederland NV                                                      | CUSIP: N/A<br>LEI: 7245000G0HS48PZWUD53       | Long             | EC               | CORP              | NL        |     52423 | NS      | $3482142.60   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| United Overseas Bank Ltd.                             | United Overseas Bank Ltd.                                             | CUSIP: N/A<br>LEI: IO66REGK3RCBAMA8HR66       | Long             | EC               | CORP              | SG        |    191600 | NS      | $5323172.50   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Beazley plc                                           | Beazley plc                                                           | CUSIP: N/A<br>LEI: 213800VTOMUWD41GIT12       | Long             | EC               | CORP              | GB        |    159513 | NS      | $1879499.21   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Taylor Wimpey plc                                     | Taylor Wimpey plc                                                     | CUSIP: N/A<br>LEI: 21380089BTRXTD8S3R66       | Long             | EC               | CORP              | GB        |    793145 | NS      | $1067165.61   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Tecnicas Reunidas SA                                  | Tecnicas Reunidas SA                                                  | CUSIP: N/A<br>LEI: 213800JEZBUPZKWJGF49       | Long             | EC               | CORP              | ES        |    128732 | NS      | $3170264.32   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Comercial Portugues SA                          | Banco Comercial Portugues SA, Class R                                 | CUSIP: N/A<br>LEI: JU1U6S0DG9YLT7N8ZV32       | Long             | EC               | CORP              | PT        |   2689806 | NS      | $2208722.36   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Aviva plc                                             | Aviva plc                                                             | CUSIP: N/A<br>LEI: YF0Y5B0IB8SM0ZFG9G81       | Long             | EC               | CORP              | GB        |    644540 | NS      | $5506953.84   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                      | Deutsche Bank AG (Registered)                                         | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |    347555 | NS      | $11447259.00  | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitie Group plc                                       | Mitie Group plc                                                       | CUSIP: N/A<br>LEI: 213800MTCLTKEHWZMJ03       | Long             | EC               | CORP              | GB        |    995386 | NS      | $1845723.98   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Henkel AG & Co. KGaA                                  | Henkel AG & Co. KGaA (Preference)                                     | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EC               | CORP              | DE        |     40849 | NS      | $3147788.83   | 0.22%             |  |  |  | No            |                  2 | On Loan: —       |
| Modern Times Group MTG AB                             | Modern Times Group MTG AB, Class B                                    | CUSIP: N/A<br>LEI: 549300E8NDODRSX29339       | Long             | EC               | CORP              | SE        |    117373 | NS      | $1206663.67   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer