# EDGAR Filing Document

**Accession Number:** 0001659326
**File Stem:** 0001193125-25-191967
**Filing Date:** 2025-8
**Character Count:** 498732
**Document Hash:** 4d5995130582ba56d53e867ec0bd3547
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-191967.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001193125-25-191967

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMORGAN TRUST IV
- **CENTRAL INDEX KEY:** 0001659326

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-208312
- **FILM NUMBER:** 251276251

**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:** JPMorgan Trust IV
- **DATE OF NAME CHANGE:** 20151124

## Series and Classes Contracts Data

### JPMorgan Equity Premium Income Fund (Series ID: S000062679)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | JEPAX         | C000203273 |
| Class C    | JEPCX         | C000203274 |
| Class I    | JEPIX         | C000203275 |
| Class R5   | JEPSX         | C000203276 |
| Class R6   | JEPRX         | C000203277 |

---

### JPMorgan Hedged Equity 2 Fund (Series ID: S000070948)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class R6   | JHDRX         | C000225316 |
| Class C    | JHDCX         | C000225317 |
| Class I    | JHQDX         | C000225318 |
| Class R5   | JHDFX         | C000225319 |
| Class A    | JHDAX         | C000225320 |

---

### JPMorgan Hedged Equity 3 Fund (Series ID: S000070949)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class R6   | JHTRX         | C000225321 |
| Class A    | JHTAX         | C000225322 |
| Class C    | JHTCX         | C000225323 |
| Class I    | JHQTX         | C000225324 |
| Class R5   | JHTGX         | C000225325 |

---

## Series and Classes Contracts Data

### JPMorgan Equity Premium Income Fund (Series ID: S000062679)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000203273 | Class A      | JEPAX           |
| C000203274 | Class C      | JEPCX           |
| C000203275 | Class I      | JEPIX           |
| C000203276 | Class R5     | JEPSX           |
| C000203277 | Class R6     | JEPRX           |

### JPMorgan Hedged Equity 2 Fund (Series ID: S000070948)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000225316 | Class R6     | JHDRX           |
| C000225317 | Class C      | JHDCX           |
| C000225318 | Class I      | JHQDX           |
| C000225319 | Class R5     | JHDFX           |
| C000225320 | Class A      | JHDAX           |

### JPMorgan Hedged Equity 3 Fund (Series ID: S000070949)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000225321 | Class R6     | JHTRX           |
| C000225322 | Class A      | JHTAX           |
| C000225323 | Class C      | JHTCX           |
| C000225324 | Class I      | JHQTX           |
| C000225325 | Class R5     | JHTGX           |

**J.P. Morgan U.S. Equity Funds**

**STATEMENT OF ADDITIONAL INFORMATION — PART I** 

**November 1, 2024, as supplemented August 29, 2025**

**JPMORGAN TRUST I ("JPMT I")** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **A** | **C** | **I** | **L** | **R2** | **R3** | **R4** | **R5** | **R6** |
| JPMorgan Diversified Fund (the "Diversified Fund") | JDVAX | JDVCX | JDVSX | JPDVX |  |  |  |  | JDVZX |
| JPMorgan Hedged Equity Fund (the "Hedged Equity Fund") | JHQAX | JHQCX | JHEQX |  |  |  |  | JHQPX | JHQRX |
| JPMorgan Mid Cap Equity Fund (the "Mid Cap Equity Fund") | JCMAX | JMCCX | VSNGX |  | JMCEX |  |  | JMEEX | &nbsp;&nbsp; JPPEX |
| JPMorgan Small Cap Blend Fund (the "Small Cap Blend Fund") | VSCOX | VSCCX | JDSCX |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*  | JSCHX |
| JPMorgan Small Cap Equity Fund (the "Small Cap Equity Fund") | VSEAX | JSECX | &nbsp;&nbsp; VSEIX |  | JSEZX | JSEPX | JSEQX | JSERX | VSENX |
| JPMorgan U.S. Equity Fund (the "U.S. Equity Fund") | JUEAX | JUECX | JUESX | JMUEX | JUEZX | JUEPX | JUEQX | JUSRX | JUEMX |
| JPMorgan U.S. GARP Equity Fund (the "U.S. GARP Equity Fund") | &nbsp;&nbsp; JIGAX | &nbsp;&nbsp; JCICX | &nbsp;&nbsp; JPGSX |  | &nbsp;&nbsp; JIGZX |  |  | JGIRX | &nbsp;&nbsp; JGISX |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Large Cap Core Plus Fund (the "U.S. Large Cap <br> Core Plus Fund")<br>| JLCAX | JLPCX | &nbsp;&nbsp; JLPSX |  | JLPZX |  |  | JCPRX | JLPYX |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Research Enhanced Equity Fund (the "U.S. <br> Research Enhanced Equity Fund")<br>| JDEAX |  | JDESX |  |  |  |  |  | JDEUX |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Small Company Fund (the "U.S. Small Company <br> Fund")<br>| JTUAX | JTUCX | &nbsp;&nbsp; JSCSX | JUSSX | JSCZX | JUSPX | JUSQX | JUSYX | JUSMX |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Sustainable Leaders Fund (the "U.S. Sustainable <br> Leaders Fund")<br>| &nbsp;&nbsp; JICAX | &nbsp;&nbsp; JICCX | &nbsp;&nbsp;&nbsp;&nbsp; JIISX |  |  |  |  |  | &nbsp;&nbsp;&nbsp; JIIGX |
| JPMorgan U.S. Value Fund (the "U.S. Value Fund") | VGRIX | VGICX | &nbsp;&nbsp; VGIIX |  | VGRTX | JGAVX | JGRUX | VGIFX | VGINX |
| JPMorgan Value Advantage Fund (the "Value Advantage Fund") | JVAAX | JVACX | &nbsp;&nbsp; JVASX | &nbsp;&nbsp; JVAIX | JGAQX | JVAPX | JVAQX | JVARX | JVAYX |

---

**JPMORGAN TRUST II ("JPMT II")** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **A** | **C** | **I** | **L** | **R2** | **R3** | **R4** | **R5** | **R6** |
| JPMorgan Equity Income Fund (the "Equity Income Fund") | &nbsp;&nbsp;&nbsp; OIEIX | &nbsp;&nbsp; OINCX | &nbsp;&nbsp; HLIEX |  | OIEFX | &nbsp;&nbsp;&nbsp; OIEPX | &nbsp;&nbsp; OIEQX | OIERX | &nbsp;&nbsp;&nbsp; OIEJX |
| JPMorgan Equity Index Fund (the "Equity Index Fund") | OGEAX | &nbsp;&nbsp; OEICX | &nbsp;&nbsp; HLEIX |  |  |  |  |  | OGFAX |
| JPMorgan Large Cap Growth Fund (the "Large Cap Growth Fund") | OLGAX | OLGCX | SEEGX |  | JLGZX | &nbsp;&nbsp; JLGPX | &nbsp;&nbsp; JLGQX | JLGRX | JLGMX |
| JPMorgan Large Cap Value Fund (the "Large Cap Value Fund") | OLVAX | OLVCX | HLQVX |  | JLVZX | &nbsp;&nbsp; OLVTX | &nbsp;&nbsp; OLVRX | JLVRX | JLVMX |
| JPMorgan Mid Cap Growth Fund (the "Mid Cap Growth Fund") | OSGIX | OMGCX | HLGEX |  | JMGZX | &nbsp;&nbsp; JMGPX | JMGQX | JMGFX | JMGMX |
| JPMorgan Small Cap Growth Fund (the "Small Cap Growth Fund") | PGSGX | OSGCX | OGGFX | JISGX | JSGZX | &nbsp;&nbsp; JGRQX | &nbsp;&nbsp;&nbsp; JGLYX | JGSVX | JGSMX |
| JPMorgan Small Cap Value Fund (the "Small Cap Value Fund") | PSOAX | OSVCX | &nbsp;&nbsp; PSOPX |  | JSVZX | &nbsp;&nbsp;&nbsp; JSVPX | &nbsp;&nbsp; JSVQX | JSVRX | &nbsp;&nbsp; JSVUX |
| JPMorgan SMID Cap Equity Fund (the "SMID Cap Equity Fund") | PECAX | ODMCX | WOOPX |  |  | WOOOX | WOOQX |  | WOOSX |

---

**JPMORGAN TRUST IV ("JPMT IV")** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **A** | **C** | **I** | **L** | **R2** | **R3** | **R4** | **R5** | **R6** |
| &nbsp;&nbsp;&nbsp; JPMorgan Equity Premium Income Fund (the "Equity Premium <br> Income Fund")<br>| JEPAX | JEPCX | &nbsp;&nbsp; JEPIX |  |  |  |  | JEPSX | JEPRX |
| JPMorgan Hedged Equity 2 Fund (the "Hedged Equity 2 Fund") | JHDAX | JHDCX | JHQDX |  |  |  |  | JHDFX | JHDRX |
| JPMorgan Hedged Equity 3 Fund (the "Hedged Equity 3 Fund") | JHTAX | JHTCX | JHQTX |  |  |  |  | JHTGX | JHTRX |

---

**J.P. MORGAN MUTUAL FUND INVESTMENT TRUST ("JPMMFIT")** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **A** | **C** | **I** | **L** | **R2** | **R3** | **R4** | **R5** | **R6** |
| JPMorgan Growth Advantage Fund (the "Growth Advantage Fund") | VHIAX | JGACX | JGASX |  | JGRJX | JGTTX | JGTUX | JGVRX | JGVVX |

---

**J.P. MORGAN FLEMING MUTUAL FUND GROUP, INC. ("JPMFMFG")** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund Name** | **A** | **C** | **I** | **L** | **R2** | **R3** | **R4** | **R5** | **R6** |
| JPMorgan Mid Cap Value Fund (the "Mid Cap Value Fund") | JAMCX | JCMVX | JMVSX | FLMVX | JMVZX | JMVPX | JMVQX | JMVRX | JMVYX |

---

\*

An exchange ticker symbol is not available for this share class.

SAI-USEQ-1124-2

------

**(each a "Fund" and collectively, the "Funds" or the "Equity Funds")**

This Statement of Additional Information ("SAI") is not a prospectus but contains additional information which should be read in conjunction with the prospectuses for the Funds dated November 1, 2024, as supplemented from time to time (the "Prospectuses"). [Additionally, this SAI](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001217286/000119312524214942/d877241dncsr.htm)[incorporates by reference the audited financial statements included in the Financial Statements and Other](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001217286/000119312524214942/d877241dncsr.htm)[Information relating to the Funds dated June 30, 2024.](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001217286/000119312524214942/d877241dncsr.htm) The Prospectuses and the Financial Statements and Other Information, including the Independent Registered Public Accounting Firm's Reports, are available online at www.jpmorganfunds.com without charge upon request by contacting JPMorgan Distribution Services, Inc. ("JPMDS" or the "Distributor"), the Funds' distributor, at 1111 Polaris Parkway, Columbus, OH 43240.

This SAI is divided into two Parts – Part I and Part II. Part I of this SAI contains information that is particular to each Fund. Part II of this SAI contains additional information that generally applies to the Funds and other J.P. Morgan Funds.

For more information about the Funds or the Financial Statements and Other Information, simply write or call:

J.P. Morgan Funds Services <br> P.O. Box 219143 <br>Kansas City, MO 64121-9143 <br>1-800-480-4111

------

**Part I**<br>

**Table of Contents** 

---

| | |
|:---|:---|
| **[GENERAL](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_1)** | 1  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [The Trusts and the Funds](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_1) | 1  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Share Classes](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_3) | 3  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Miscellaneous](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_4) | 4  |
| **[INVESTMENT POLICIES](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_4)** | 4  |
| **[INVESTMENT PRACTICES](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_16)** | 16  |
| **[ADDITIONAL INFORMATION REGARDING INVESTMENT PRACTICES](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_22)** | 22  |
| **[QUALITY DESCRIPTION](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_23)** | 23  |
| **[DIVERSIFICATION](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_23)** | 23  |
| **[PORTFOLIO TURNOVER](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_23)** | 23  |
| **[TRUSTEES](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_24)** | 24  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Standing Committees](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_24) | 24  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Ownership of Securities](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_25) | 25  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Trustee Compensation](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_27) | 27  |
| **[INVESTMENT ADVISER](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_30)** | 30  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Investment Advisory Fees](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_30) | 30  |
| **[PORTFOLIO MANAGERS](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_31)** | 31  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Managers' Other Accounts Managed](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_31) | 31  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Managers' Ownership of Securities](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_35) | 35  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Portfolio Managers' Compensation](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_38) | 38  |
| **[ADMINISTRATOR](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_38)** | 38  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Administrator Fees](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_38) | 38  |
| **[FUND ACCOUNTING AGENT](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_39)** | 39  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Fund Accounting Fees](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_39) | 39  |
| **[SECURITIES LENDING ACTIVITIES](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_40)** | 40  |
| **[DISTRIBUTOR](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_41)** | 41  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Compensation Paid to JPMDS](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_41) | 41  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Distribution Fees](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_43) | 43  |
| **[SHAREHOLDER SERVICING](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_45)** | 45  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Service Fees](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_45) | 45  |
| **[BROKERAGE AND RESEARCH SERVICES](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_48)** | 48  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Brokerage Commissions](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_48) | 48  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Broker Research](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_50) | 50  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Securities of Regular Broker-Dealers](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_50) | 50  |
| **[FINANCIAL INTERMEDIARIES](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_52)** | 52  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Other Cash Compensation Payments](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_52) | 52  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Finders' Fee Commissions](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_52) | 52  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Finders' Fees Paid By Distributor](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_53) | 53  |
| **[TAX MATTERS](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_53)** | 53  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Capital Loss Carryforwards](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_53) | 53  |
| **[PORTFOLIO HOLDINGS DISCLOSURE](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_53)** | 53  |
| **[SHARE OWNERSHIP](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_55)** | 55  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Trustees and Officers](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_55) | 55  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Principal Holders](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_55) | 55  |
| **[FINANCIAL STATEMENTS](#xx_df6d36f6-ecad-4fc9-94f4-1f93f3d16cb0_56)** | 56  |
| **[PRINCIPAL SHAREHOLDERS](#xx_47465707-b974-4d1f-b476-43dee6c89200_1)** | 57 |

---

**PLEASE SEE PART II OF THIS SAI FOR ITS **TABLE OF CONTENTS****

------

**GENERAL**

**The Trusts and the Funds**

**JPMT I Historical Information**

JPMT I is an open-end, management investment company formed as a statutory trust under the laws of the State of Delaware on November 12, 2004, pursuant to a Declaration of Trust, dated November 5, 2004. Each of the Funds which is a series of JPMT I (except Hedged Equity Fund, U.S. Large Cap Core Plus Fund, U.S. Research Equity Plus Fund and Value Advantage Fund) is a successor mutual fund to J.P. Morgan Funds that were series of J.P. Morgan Mutual Fund Series at the close of business on February 18, 2005 ("Predecessor J.P. Morgan Funds"). Each of the Predecessor J.P. Morgan Funds (other than U.S. GARP Equity Fund and U.S. Sustainable Leaders Fund) (the "Predecessor Intrepid Funds") operated as a series of another legal entity prior to reorganizing and redomiciling as series of J.P. Morgan Mutual Fund Series on February 18, 2005.

The Predecessor J.P. Morgan Funds, other than the Predecessor Intrepid Funds, were formerly series of the following business trusts (the "Predecessor JPMorgan Trusts"):

---

| | |
|:---|:---|
| **J.P. Morgan Institutional Funds ("JPMIF")** | **J.P. Morgan Mutual Fund Select Group ("JPMMFSG")** |
| JPMorgan Diversified Fund | JPMorgan Mid Cap Equity Fund |
| JPMorgan U.S. Equity Fund |  |
| JPMorgan U.S. Research Enhanced Equity <br> Fund<br>|  |
| JPMorgan U.S. Small Company Fund |  |

---

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

---

| | |
|:---|:---|
| **J.P. Morgan Mutual Fund Group ("JPMMFG")** | **J.P. Morgan Mutual Fund Series ("JPMMFS")** |
| JPMorgan U.S. Value Fund | JPMorgan U.S. GARP Equity Fund |
| JPMorgan Small Cap Blend Fund | JPMorgan U.S. Sustainable Leaders Fund |
| JPMorgan Small Cap Equity Fund |  |

---

Shareholders of each of the Predecessor J.P. Morgan Funds approved an Agreement and Plan of Reorganization and Redomiciliation ("Shell Reorganization Agreements") between the Predecessor JPMorgan Trusts (other than JPMMFS), on behalf of the Predecessor J.P. Morgan Funds (other than the series of JPMMFS), and JPMMFS, on behalf of its series. Pursuant to the Shell Reorganization Agreements, the Predecessor J.P. Morgan Funds (other than the series of JPMMFS) were reorganized into the corresponding series of JPMMFS effective after the close of business on February 18, 2005 ("Closing Date").

**JPMT II Historical Information**

JPMT II is an open-end, management investment company formed as a statutory trust under the laws of the State of Delaware on November 12, 2004, pursuant to a Declaration of Trust dated November 5, 2004. Each of the Funds which is a series of JPMT II was formerly a series of One Group Mutual Funds, a Massachusetts business trust which was formed on May 23, 1985. At shareholder meetings held on January 20, 2005 and February 3, 2005, shareholders of One Group Mutual Funds approved the redomiciliation of One Group Mutual Funds as a Delaware statutory trust to be called JPMorgan Trust II. The redomiciliation was effective after the close of business on the closing date.

With respect to events that occurred or payments that were made prior to the Closing Date, any reference to Fund(s) (other than the Growth Advantage Fund and the Mid Cap Value Fund) in this SAI prior to the Closing Date refers to the Predecessor J.P. Morgan Funds or One Group Mutual Funds.

**JPMT IV Historical Information**

JPMT IV is an open-end, management investment company formed as a statutory trust under the laws of the State of Delaware on November 11, 2015, pursuant to a Declaration of Trust dated November 11, 2015, as subsequently amended. In addition to the Fund, the Trust consists of other series representing separate investment funds (each a "J.P. Morgan Fund").

Part I - 1

------

**JPMMFIT Historical Information**

The Growth Advantage Fund (formerly JPMorgan Mid Cap Growth Fund) is a series of JPMMFIT, an open-end management investment company which was organized as a business trust under the laws of the Commonwealth of Massachusetts, on September 23, 1997. Effective April 30, 2003, the name of JPMMFIT was changed from Mutual Fund Investment Trust to J.P. Morgan Mutual Fund Investment Trust.

**JPMFMFG Historical Information**

The Mid Cap Value Fund is a series of JPMFMFG, a diversified open-end management investment company which was organized as a Maryland corporation, on August 19, 1997. Effective April 30, 2003, the name of JPMFMFG was changed from Fleming Mutual Fund Group, Inc. to J.P. Morgan Fleming Mutual Fund Group, Inc.

REORGANIZATIONS OF FUNDS. After the close of business on February 18, 2005, certain "Predecessor J.P. Morgan Funds" and One Group Mutual Funds merged with and into the Funds listed below. The following list identifies the target funds and the surviving funds.

---

| | |
|:---|:---|
| **Target Funds** | **Surviving Funds** |
| JPMorgan Equity Income Fund | One Group Equity Income Fund |
|  | (now known as JPMorgan Equity Income Fund) |
| JPMorgan Equity Growth Fund | One Group Large Cap Growth Fund |
|  | (now known as JPMorgan Large Cap Growth Fund) |
| JPMorgan Small Cap Growth Fund; JPMorgan U.S. | One Group Small Cap Growth Fund |
| Small Company Opportunities Fund | (now known as JPMorgan Small Cap Growth Fund) |
| One Group Balanced Fund | JPMorgan Diversified Fund |
| One Group Diversified Equity Fund | JPMorgan U.S. Equity Fund |

---

On June 26, 2009, certain J.P. Morgan Funds were involved in reorganizations with other J.P. Morgan Funds as follows:

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| | |
|:---|:---|
| **Acquired Funds** | **Acquiring Funds** |
| JPMorgan Capital Growth Fund | JPMorgan Mid Cap Growth Fund |
| JPMorgan Diversified Mid Cap Value Fund | JPMorgan Mid Cap Value Fund |

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On March 14, 2014, the JPMorgan Mid Cap Core Fund was acquired by the JPMorgan Mid Cap Equity Fund.

On October 27, 2017, the JPMorgan Dynamic Growth Fund (the "Dynamic Growth Fund") was merged with and into the JPMorgan Large Cap Growth Fund.

**Fund Names.** As of November 1, 2007, the JPMorgan Intrepid Long/Short Fund changed its name to the JPMorgan Intrepid Plus Fund. As of June 29, 2007, the JPMorgan Dynamic Small Cap Fund changed its name to the JPMorgan Dynamic Small Cap Growth Fund. As of June 1, 2018, the JPMorgan Dynamic Small Cap Growth Fund changed its name to the JPMorgan Small Cap Blend Fund. As of March 31, 2017, the JPMorgan Intrepid Advantage Fund changed its name to the JPMorgan Intrepid Sustainable Equity Fund. As of November 1, 2017, the JPMorgan Disciplined Equity Fund changed its name to the JPMorgan U.S. Research Enhanced Equity Fund. As of August 17, 2020, the JPMorgan Intrepid Sustainable Equity Fund changed its name to the JPMorgan U.S. Sustainable Leaders Fund. As of November 1, 2020, the JPMorgan Growth and Income Fund changed its name to the JPMorgan U.S. Value Fund. As of November 1, 2020, the JPMorgan Intrepid Mid Cap Fund changed its name to the JPMorgan SMID Cap Equity Fund. As of February 1, 2021, the JPMorgan Intrepid Growth Fund changed its name to JPMorgan U.S. GARP Equity Fund.

Prior to February 19, 2005, certain JPMT I and JPMT II Funds had the following names listed below corresponding to their current names:

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| | |
|:---|:---|
| **Former Name** | **Current Name** |
| One Group Diversified Mid Cap Fund | JPMorgan SMID Cap Equity Fund<sup>1</sup> <br>|
| One Group Equity Income Fund | JPMorgan Equity Income Fund |
| One Group Equity Index Fund | JPMorgan Equity Index Fund |
| One Group Large Cap Growth Fund | JPMorgan Large Cap Growth Fund |
| One Group Large Cap Value Fund | JPMorgan Large Cap Value Fund |
| One Group Mid Cap Growth Fund | JPMorgan Mid Cap Growth Fund<sup>2</sup> <br>|

---

Part I - 2

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---

| |
|:---|
| **Former Name** |
| JPMorgan Intrepid Investor Fund<br> JPMorgan U.S. Sustainable Leaders Fund<sup>3</sup> <br>|

---

As of February 19, 2005, the Fund was named the JPMorgan Diversified Mid Cap Fund. The name was changed to the JPMorgan SMID Cap Equity Fund effective July 29, 2005. The name was then changed to JPMorgan SMID Cap Equity Fund effective November 1, 2020.

As of February 19, 2005, the Fund was named the JPMorgan Diversified Mid Cap Growth Fund. The name was changed to the JPMorgan Mid Cap Growth Fund effective June 27, 2009.

As of February 19, 2005, the Fund was named JPMorgan Intrepid Contrarian Fund. The name was changed to JPMorgan Intrepid Multi Cap Fund effective April 10, 2006. The name was then changed to JPMorgan Intrepid Advantage Fund effective February 28, 2013. The name was then changed to JPMorgan Intrepid Sustainable Equity effective March 31, 2017. The name was then changed to JPMorgan U.S. Sustainable Leaders Fund effective August 17, 2020.

In addition, effective May 1, 2003, the following Funds of JPMMFSG were renamed with the approval of the Board of Trustees:

---

| | |
|:---|:---|
| **Former Name** | **Name As Of May 1, 2003** |
| J. P. Morgan Select Mid Cap Equity | JPMorgan Mid Cap Equity Fund |

---

**Share Classes**

*Share Classes.* Shares in the Funds are generally offered in multiple classes. The following chart shows the share classes offered (or which may be offered in the future) by each of the Funds as of the date of this SAI:

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Class** <br> **A**<br>| **Class** <br> **C**<br>| **Class I** | **Class** <br> **L**<br>| **Class** <br> **R2**<br>| **Class** <br> **R3**<br>| **Class** <br> **R4**<br>| **Class** <br> **R5**<br>| **Class** <br> **R6**<br>|
| Diversified Fund | X | X | X | X |  |  |  |  | X<sup>1</sup> <br>|
| Equity Income Fund | X | X | X |  | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X | &nbsp;&nbsp; X |
| Equity Index Fund | X | X | X |  |  |  |  |  | X<sup>3</sup> <br>|
| Equity Premium Income Fund | X | X | X |  |  |  |  | X | &nbsp;&nbsp; X |
| Growth Advantage Fund | X | X | X |  | X<sup>4</sup> <br>| X<sup>5</sup> <br>| X<sup>5</sup> <br>| X | &nbsp;&nbsp; X |
| Hedged Equity Fund | X | X | X |  |  |  |  | X | &nbsp;&nbsp; X |
| Hedged Equity 2 Fund | X | X | X |  |  |  |  | X | &nbsp;&nbsp; X |
| Hedged Equity 3 Fund | X | X | X |  |  |  |  | X | &nbsp;&nbsp; X |
| Large Cap Growth Fund | X | X | X |  | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X | &nbsp;&nbsp; X |
| Large Cap Value Fund | X | X | X |  | X | X<sup>6</sup> <br>| X<sup>6</sup> <br>| X | &nbsp;&nbsp; X |
| Mid Cap Equity Fund | X | X | X |  | X |  |  | X | &nbsp;&nbsp; X |
| Mid Cap Growth Fund | X | X | X |  | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X | &nbsp;&nbsp; X |
| Mid Cap Value Fund | X | X | X | X | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X<sup>3</sup> <br>| X<sup>3</sup> <br>|
| Small Cap Blend Fund | X | X | X |  | X\* | X\* | X\* | X\* | X<sup>7</sup> <br>|
| Small Cap Equity Fund | X | X | X |  | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X | X<sup>8</sup> <br>|
| Small Cap Growth Fund | X | X | X | X | X | X<sup>4</sup> <br>| X<sup>4</sup> <br>| X<sup>3</sup> <br>| &nbsp;&nbsp; X |
| Small Cap Value Fund | X | X | X |  | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X | &nbsp;&nbsp; X |
| SMID Cap Equity Fund | X | X | X |  |  | X<sup>2</sup> <br>| X<sup>2</sup> <br>|  | X<sup>9</sup> <br>|
| U.S. Equity Fund | X | X | X | X | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X | &nbsp;&nbsp; X |
| U.S. GARP Equity Fund | X | X | X |  | X |  |  | X | X<sup>9</sup> <br>|
| U.S. Large Cap Core Plus Fund | X | X | X |  | X |  |  | X | X<sup>1</sup> <br>|
| U.S. Research Enhanced Equity Fund | X |  | X |  |  |  |  |  | &nbsp;&nbsp; X |
| U.S. Small Company Fund | X | X | X | X | X | X<sup>2</sup> <br>| X<sup>2</sup> <br>| X<sup>3</sup> <br>| &nbsp;&nbsp; X |
| U.S. Sustainable Leaders Fund | X | X | X |  |  |  |  |  | X<sup>10</sup> <br>|
| U.S. Value Fund | X | X | X |  | X<sup>9</sup> <br>| X<sup>4</sup> <br>| X<sup>4</sup> <br>| X<sup>9</sup> <br>| X<sup>9</sup> <br>|
| Value Advantage Fund | X | X | X | X | X<sup>4</sup> <br>| X<sup>3</sup> <br>| X<sup>3</sup> <br>| X<sup>3</sup> <br>| X<sup>3</sup> <br>|

---

\*

The share class is not currently offered to the public.

Class R6 Shares of the Diversified Fund and U.S. Large Cap Core Plus Fund were first offered as of 11/1/17.

Class R3 and Class R4 Shares of the Equity Income Fund, SMID Cap Equity Fund, Large Cap Growth Fund, Mid Cap Growth Fund, Mid Cap Value Fund, Small Cap Equity Fund, Small Cap Value Fund, U.S. Equity Fund and U.S. Small Company Fund were first offered as of 9/9/16.

Class R6 Shares of Equity Index Fund were first offered as of 9/1/16, Class R6 Shares of Mid Cap Value Fund and Value Advantage, as well as Class R5 Shares of Mid Cap Value Fund, Small Cap Growth Fund, U.S. Small Company Fund and Value Advantage Fund, as well as Class R3 and Class R4 Shares of Value Advantage Fund were first offered as of 9/9/16.

Class R2 Shares of Growth Advantage Fund and Value Advantage Fund, as well as Class R3 and Class R4 Shares of U.S. Value Fund and Small Cap Growth Fund were first offered as of 7/31/17.

Class R3 and Class R4 Shares of Growth Advantage Fund were first offered as of 5/31/17.

Class R3 and Class R4 Shares of the Large Cap Value Fund were first offered as of 10/1/18.

Class R6 Shares of the Small Cap Blend Fund were first offered as of 7/2/18.

Class R6 Shares of Small Cap Equity Fund were first offered as of 5/31/16.

Class R6 Shares of the U.S. GARP Equity Fund and SMID Cap Equity Fund, as well as Class R2, Class R5 and Class R6 Shares of the U.S. Value Fund were first offered as of 11/2/15.

Class R6 Shares of U.S. Sustainable Leaders Fund were first offered as of 9/30/20.

Part I - 3

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All share classes of the Equity Income Fund and Small Cap Growth Fund; Class A Shares of U.S. Research Enhanced Equity Fund; and Class L Shares of any applicable Fund are not available for purchase by new investors except as described in the Funds' Prospectuses.

The shares of the Funds are collectively referred to in this SAI as the "Shares."

**Miscellaneous**

This SAI describes the financial history, investment strategies and policies, management and operation of each of the Funds in order to enable investors to select the Fund or Funds which best suit their needs.

This SAI provides additional information with respect to the Funds and should be read in conjunction with the relevant Fund's current Prospectuses. Capitalized terms not otherwise defined herein have the meanings accorded to them in the applicable Prospectuses. The Funds' executive offices are located at 277 Park Avenue, New York, NY 10172.

This SAI is divided into two Parts – Part I and Part II. Part I of this SAI contains information that is particular to each Fund. Part II of this SAI contains information that generally applies to the Funds and other series representing separate investment funds or portfolios of JPMT I, JPMT II, JPMT IV, JPMMFIT, JPMFMFG and Undiscovered Managers Funds ("UMF") (each a "J.P. Morgan Fund," and together with the Funds, the "J.P. Morgan Funds"). Throughout this SAI, JPMT I, JPMT II, JPMT IV, JPMMFIT, JPMFMFG and UMF are each referred to as a "Trust" and collectively, as the "Trusts." Each Trust's Board of Trustees, or Board of Directors in the case of JPMFMFG, is referred to herein as the "Board of Trustees" and each trustee or director is referred to as a "Trustee."

The Funds are advised by J.P. Morgan Investment Management Inc. ("JPMIM"). Certain other of the J.P. Morgan Funds are sub-advised by Fuller & Thaler Asset Management, Inc. ("Fuller & Thaler"). JPMIM is also referred to herein as the "Adviser." Fuller & Thaler is also referred to herein as the "Sub-Adviser."

Investments in the Funds are not deposits or obligations of, nor guaranteed or endorsed by, JPMorgan Chase Bank, N.A. ("JPMorgan Chase Bank"), an affiliate of the Adviser, or any other bank. Shares of the Funds are not federally insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other governmental agency. An investment in the Funds is subject to risk that may cause the value of the investment to fluctuate, and when the investment is redeemed, the value may be higher or lower than the amount originally invested by the investor.

The Adviser, with respect to each Fund, has filed a notice of eligibility with the National Futures Association ("NFA") claiming an exclusion from the definition of the term Commodity Pool Operator ("CPO") with respect to a Fund's operations. Therefore, each Fund and the Adviser with respect to each such Fund are not subject to registration or regulation as a commodity pool or CPO under the Commodity Exchange Act, as amended. Changes to a Fund's investment strategies or investments may cause the Fund to lose the benefits of this exclusion and may trigger additional CFTC requirements. If the Adviser or a Fund becomes subject to these requirements, as well as related NFA rules, the Fund may incur additional compliance and other expenses.

**INVESTMENT POLICIES**

The following investment policies have been adopted by the respective Trust with respect to the applicable Funds. The investment policies listed below under the heading "Fundamental Investment Policies" are "fundamental" policies which, under the Investment Company Act of 1940, as amended (the "1940 Act"), may not be changed without the vote of a majority of the outstanding voting securities of a Fund, as such term is defined in "Additional Information" in Part II of this SAI. All other investment policies of a Fund (including its investment objective) are non-fundamental, unless otherwise designated in the Fund's Prospectuses or herein, and may be changed by the Trustees of the Fund without shareholder approval. For purposes of this SAI, the Securities Act of 1933 is defined herein as the "1933 Act" or the "Securities Act."

Except for each of the restrictions on borrowings set forth below in each set of Fundamental Investment policies, the percentage limitations contained in the policies below apply at the time of purchase of the securities. If a percentage or rating policy on investment or use of assets set forth in a fundamental investment policy or a non-fundamental investment policy or in a Prospectus is adhered to at the time of investment, later changes in percentage resulting from any cause will not be considered a violation and such Fund may continue to hold any securities affecting that percentage or rating policy. If

Part I - 4

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the value of a Fund's holdings of illiquid securities at any time exceeds the percentage limitation applicable at the time of acquisition due to subsequent fluctuations in value or other reasons, the Fund's Adviser will consider what actions, if any, are appropriate to maintain adequate liquidity. With respect to each fundamental investment policy regarding borrowing, the 1940 Act generally limits a Fund's ability to borrow money on a non-temporary basis if such borrowings constitute "senior securities." As noted in "Investment Strategies and Policies — Miscellaneous Investment Strategies and Risks — Borrowings" in the SAI Part II, in addition to temporary borrowing, a Fund may borrow from any bank, provided that immediately after any such borrowing there is an asset coverage of at least 300% for all borrowings by a Fund and provided further, that in the event that such asset coverage shall at any time fall below 300%, a Fund shall, within three days (not including Sundays and holidays) thereafter or such longer period as the U.S. Securities and Exchange Commission ("SEC") may prescribe by rules and regulations, reduce the amount of its borrowings to such an extent that the asset coverage of such borrowing shall be at least 300%. A Fund may also borrow money if such borrowing does not constitute "senior securities" under the 1940 Act or engage in economically similar transactions if those transactions comply with the applicable requirements of the SEC under the 1940 Act.

For purposes of the fundamental investment policies regarding industry concentration, "to concentrate" generally means to invest more than 25% of the Fund's total assets, taken at market value at the time of investment. For Equity Premium Income Fund this fundamental investment policy regarding industry concentration does not apply to securities issued by other investment companies, securities issued or guaranteed by the U.S. government, any state or territory of the U.S., its agencies, instrumentalities, or political subdivisions, or repurchase agreements secured thereby. For the purposes of the fundamental investment policy regarding industry concentration, the Fund currently utilizes any one or more of the industry and/or sub-industry classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the Adviser. The Adviser may classify and re-classify companies in a particular industry or sub-industry and define and re-define industries and sub-industries in any reasonable manner, consistent with SEC guidance. Accordingly, the composition of an industry or group of industries may change from time to time. The policy will be interpreted to give broad authority to the Adviser as to how to classify issuers. For purposes of fundamental investment policies involving industry concentration, "group of industries," to the extent such term is applicable, means a group of related industries, as determined in good faith by the Adviser, based on published classifications or other sources.

Shareholders of the Growth Advantage Fund, the Mid Cap Equity Fund, the Small Cap Blend Fund, the Small Cap Equity Fund, and the U.S. Value Fund, must be given at least 30 days' prior written notice of any change in such Fund's investment objectives.

In addition, each of the Funds, except the Diversified Fund, Growth Advantage Fund and Value Advantage Fund has an 80% investment policy which is described in such Fund's Prospectuses. In calculating assets for purposes of each Fund's 80% investment policy, assets are net assets plus the amount of any borrowings. This policy may be changed by the Board of Trustees without shareholder approval. However, each Fund will provide shareholders with written notice at least 60 days prior to a change in its 80% investment policy.

**Investment Policies of Funds that Are Series of JPMT I, JPMIT IV, JPMFMFG and JPMMFIT**

**Investment Policies of the Hedged Equity Fund**

**Fundamental Investment Policies.** The Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not purchase any security which would cause the Fund to concentrate its investments in the securities of issuers primarily engaged in any particular industry or group of industries except as permitted by the SEC. This restriction does not apply to investments in securities issued or guaranteed by the U.S. government or any of its agencies or instrumentalities, or repurchase agreements secured thereby, and futures and options transactions issued or guaranteed by the U.S. government or any of its agencies or instrumentalities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not issue senior securities, except as permitted under the 1940 Act or any rule, order or interpretation thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not borrow money, except to the extent permitted by applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not underwrite securities of other issuers, except to the extent that the Fund may be deemed an underwriter under certain securities laws in the disposition of "restricted securities";

Part I - 5

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May not purchase or sell real estate unless acquired as a result of ownership of securities or other instruments. This restriction does not prevent the Fund from investing in securities issued by companies in an industry or group of industries in the real estate sector;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not purchase or sell commodities or commodity contracts except as may be permitted by the 1940 Act or unless acquired as a result of ownership of securities or other instruments issued by persons that purchase or sell commodities or commodities contracts; but this shall not prevent the Fund from purchasing, selling and entering into financial futures contracts (including futures contracts on indices of securities, interest rates and currencies), options on financial futures contracts (including futures contracts on indices of securities, interest rates and currencies), warrants, swaps, forward contracts, foreign currency spot and forward contracts or other derivative instruments including derivatives related to physical commodities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May make loans to other persons, in accordance with the Fund's investment objective and policies and to the extent permitted by applicable law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) May not make any investment inconsistent with its classification as a diversified investment company under the 1940 Act.

For the purposes of investment restriction (5) above, real estate includes real estate limited partnerships.

**Non-Fundamental Investment Policies.** The Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not acquire securities of other investment companies, except as permitted by the 1940 Act or any order pursuant thereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

Part I - 6

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**Investment Policies of the Equity Premium Income Fund, the Hedged Equity 2 Fund and the Hedged Equity 3 Fund**

**Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not purchase any security which would cause the Fund to concentrate its investments in the securities of issuers primarily engaged in any particular industry or group of industries, except as permitted by the 1940 Act or any applicable law, rule, order or interpretation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May issue senior securities, to the extent permitted by the 1940 Act or any applicable law, rule, order or interpretation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May borrow money to the extent permitted by the 1940 Act or any applicable law, rule, order or interpretation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not underwrite the securities of other issuers, except to the extent that the Fund, may be deemed an underwriter under certain securities laws in disposing of portfolio securities or in connection with investments in other investment companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May purchase or sell real estate or any interest therein (such as securities or instruments backed by or related to real estate) to the extent permitted by the 1940 Act or any applicable law, rule, order or interpretation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May purchase and sell commodities to the extent permitted by the 1940 Act or any applicable law, rule, order or interpretation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May make loans to the extent permitted by the 1940 Act or any applicable law, rule, order or interpretation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) May not make any investment inconsistent with its classification as a diversified investment company as that term is defined in the 1940 Act or as interpreted, modified or applied by the SEC or its staff.

**Non-Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

**Investment Policies of the Mid Cap Value Fund**

**Fundamental Investment Policies.** The Fund may not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Purchase securities of any issuer (except securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities and repurchase agreements involving such securities) if, as a result, more than 5% of the total assets of the Fund would be invested in the securities of such issuer; or acquire more than 10% of the outstanding voting securities of any one issuer. This policy applies to 75% of the Fund's total assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Purchase any securities which would cause 25% or more of the total assets of the Fund to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that this limitation does not apply to investments in obligations issued or guaranteed by the U.S. Government or its agencies and instrumentalities and repurchase agreements involving such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Borrow money in an amount exceeding 33 <sup>1</sup>∕3% of the value of its total assets, provided that, for purposes of this limitation, investment strategies which either obligate the Fund to purchase securities or require the Fund to segregate assets are not considered to be borrowings. Asset coverage of a least 300% is required for all borrowings, except where the Fund has borrowed money for temporary purposes in amounts not exceeding 5% of its total assets. The Fund will not purchase securities while its borrowings exceed 5% of its total assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Make loans if, as a result, more than 33 <sup>1</sup>∕3% of its total assets would be lent to other parties, except that the Fund may (i) purchase or hold debt instruments in accordance with its investment objective and policies; (ii) enter into repurchase agreements; and (iii) lend its securities.

Part I - 7

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Purchase or sell real estate, physical commodities, or commodities contracts, except that the Fund may purchase (i) marketable securities issued by companies which own or invest in REITs, commodities, or commodities contracts; and (ii) commodities contracts relating to financial instruments, such as financial futures contracts and options on such contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Issue senior securities (as defined in the 1940 Act) except as permitted by rule, regulation or order of the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Act as an underwriter of securities of other issuers except as it may be deemed an underwriter in selling a portfolio security.

**Non-Fundamental Investment Policies.** The Fund may not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Pledge, mortgage or hypothecate assets except to secure borrowings permitted by the Fund's fundamental limitation on borrowing, provided, the Fund may segregate assets without limit in order to comply with the SEC's position regarding the asset segregation requirements of Section 18 of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Invest in companies for the purpose of exercising control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Purchase securities on margin or effect short sales, except that the Fund may (i) obtain short term credits as necessary for the clearance of security transactions; (ii) provide initial and variation margin payments in connection with transactions involving futures contracts and options on such contracts; and (iii) make short sales "against the box" or in compliance with the SEC's position regarding the asset segregation requirements of Section 18 of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Invest its assets in securities of any investment company, except as permitted by the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Enter into a futures contract or options transaction if the Fund's total outstanding obligations resulting from such futures contract or option transaction would exceed 10% of the Fund's total assets, and the Fund will maintain assets sufficient to meet its obligations under such contracts or transactions with the Fund's custodian or will otherwise comply with the SEC's position regarding the asset segregation requirements of Section 18 of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

**Investment Policies of the Diversified Fund, the U.S. Equity Fund, the U.S. Large Cap Core Plus Fund, the U.S. Research Enhanced Equity Fund and the U.S. Small Company Fund**

**Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not make any investment inconsistent with the Fund's classification as a diversified investment company under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not purchase any security which would cause the Fund to concentrate its investments in the securities of issuers primarily engaged in any particular industry except as permitted by the SEC. For purposes of fundamental investment policies regarding industry concentration, a Fund may not invest more than 25% of its total assets in the securities of issuers primarily engaged in any particular industry (other than securities issued or guaranteed by the U.S. government, any state or territory of the U.S., its agencies, instrumentalities or political subdivisions).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not issue senior securities, except as permitted under the 1940 Act or any rule, order or interpretation thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not borrow money, except to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May not underwrite securities of other issuers, except to the extent that the Fund, in disposing of portfolio securities, may be deemed an underwriter within the meaning of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not purchase or sell real estate, except that, to the extent permitted by applicable law, the Fund may (a) invest in securities or other instruments directly or indirectly secured by real estate, and (b) invest in securities or other instruments issued by issuers that invest in real estate and, in the case of the Diversified Fund, make direct investments in mortgages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May not purchase or sell commodities or commodity contracts unless acquired as a result of ownership of securities or other instruments issued by persons that purchase or sell commodities or commodities contracts; but this shall not prevent the Fund from purchasing, selling and

Part I - 8

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entering into financial futures contracts (including futures contracts on indices of securities, interest rates and currencies), options on financial futures contracts (including futures contracts on indices of securities, interest rates and currencies), warrants, swaps, forward contracts, foreign currency spot and forward contracts or other derivative instruments that are not related to physical commodities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) May make loans to other persons, in accordance with the Fund's investment objective and policies and to the extent permitted by applicable law.

**Non-Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not purchase securities on margin, make short sales of securities, or maintain a short position, provided that this policy shall not be deemed to be applicable to the purchase or sale of when issued or delayed delivery securities, or to short sales that are covered in accordance with SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not acquire securities of other investment companies, except as permitted by the 1940 Act or any order pursuant thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act (except that the policy does not apply to the Diversified Fund).

**Investment Policies of the Small Cap Blend Fund, the Small Cap Equity Fund and the U.S. Value Fund**

**Fundamental Investment Policies.** With respect to the U.S. Value Fund, it is a fundamental policy of the Fund that when the Fund holds no portfolio securities except interests in another investment company ("master portfolio") in which it invests, the Fund's investment objective and policies shall be identical to the master portfolio's investment objective and policies, except for the following: the Fund (1) may invest more than 10% of its net assets in the securities of a registered investment company, (2) may hold more than 10% of the voting securities of a registered investment company and (3) will concentrate its investments in the investment company. It is a fundamental investment policy of the Fund that when the Fund holds only portfolio securities other than interests in the master portfolio, the Fund's investment objective and policies shall be identical to the investment objective and policies of the master portfolio at the time the assets of the Fund were withdrawn from that master portfolio.

Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not borrow money, except to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May make loans to other persons, in accordance with the Fund's investment objectives and policies and to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or repurchase agreements secured thereby) if, as a result, more than 25% of the Fund's total assets would be invested in the securities of companies whose principal business activities are in the same industry. Notwithstanding the foregoing, with respect to a Fund's permissible futures and options transactions in U.S. Government securities, positions in such options and futures shall not be subject to this policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not purchase or sell physical commodities unless acquired as a result of ownership of securities or other instruments but this shall not prevent a Fund from (i) purchasing or selling options and futures contracts or from investing in securities or other instruments backed by physical commodities or (ii) engaging in forward purchases or sales of foreign currencies or securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May not purchase or sell real estate unless acquired as a result of ownership of securities or other instruments (but this shall not prevent a Fund from investing in securities or other instruments backed by real estate or securities of companies engaged in the real estate business). Investments by a Fund in securities backed by mortgages on real estate or in marketable securities of companies engaged in such activities are not hereby precluded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not issue any senior security (as defined in the 1940 Act), except that (i) a Fund may engage in transactions that may result in the issuance of senior securities to the extent permitted under

Part I - 9

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applicable regulations and interpretations of the 1940 Act or an exemptive order; (ii) a Fund may acquire other securities, the acquisition of which may result in the issuance of a senior security, to the extent permitted under applicable regulations or interpretations of the 1940 Act; and (iii) subject to the restrictions set forth above, a Fund may borrow money as authorized by the 1940 Act. For purposes of this restriction, collateral arrangements with respect to permissible options and futures transactions, including deposits of initial and variation margin, are not considered to be the issuance of a senior security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May not underwrite securities issued by other persons except insofar as a Fund may technically be deemed to be an underwriter under the 1933 Act in selling a portfolio security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) May not purchase securities of any issuer if such purchase would not be consistent with the maintenance of the Fund's status as a diversified company under the 1940 Act, or the rules or regulations thereunder, as such statute, rules or regulations may be amended from time to time.

**Non-Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not with respect to 50% of its assets, hold more than 10% of the outstanding voting securities of any issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not make short sales of securities, other than short sales "against the box," or purchase securities on margin except for short-term credits necessary for clearance of portfolio transactions, provided that this restriction will not be applied to limit the use of options, futures contracts and related options, in the manner otherwise permitted by the investment restrictions policies and investment program of a Fund. No Fund has the current intention of making short sales against the box.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not purchase or sell interests in oil, gas or mineral leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not write, purchase or sell any put or call option or any combination thereof, provided that this shall not prevent (i) the writing, purchasing or selling of puts, calls or combinations thereof with respect to portfolio securities or (ii) with respect to a Fund's permissible futures and options transactions, the writing, purchasing, ownership, holding or selling of futures and options positions or of puts, calls or combinations thereof with respect to futures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Except as specified above, may invest in the securities of other investment companies to the extent permitted by applicable Federal securities law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not (other than U.S. Value Fund) acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May not acquire securities of other investment companies, except as permitted by the 1940 Act or any order pursuant thereto.

**Investment Policies of the Growth Advantage Fund**

**Fundamental Investment Policies.** The Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not borrow money, except that the Fund may borrow money for temporary or emergency purposes, or by engaging in reverse repurchase transactions, in an amount not exceeding 33 <sup>1</sup>∕3% of the value of its total assets at the time when the loan is made and may pledge, mortgage or hypothecate no more than 1/3 of its net assets to secure such borrowings. Any borrowings representing more than 5% of the Fund's total assets must be repaid before the Fund may make additional investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May make loans to other persons, in accordance with the Fund's investment objectives and policies and to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or repurchase agreements secured thereby) if, as a result, more than 25% of the Fund's total assets would be invested in the securities of companies whose principal business activities are in the same industry. Notwithstanding the foregoing, with respect to the Fund's permissible futures and options transactions in U.S. Government securities, positions in such options and futures shall not be subject to this restriction.

Part I - 10

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not purchase or sell physical commodities unless acquired as a result of ownership of securities or other instruments but this shall not prevent the Fund from (i) purchasing or selling options and futures contracts or from investing in securities or other instruments backed by physical commodities or (ii) engaging in forward purchases or sales of foreign currencies or securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May not purchase or sell real estate unless acquired as a result of ownership of securities or other instruments (but this shall not prevent the Fund from investing in securities or other instruments backed by real estate or securities of companies engaged in the real estate business). Investments by the Fund in securities backed by mortgages on real estate or in marketable securities of companies engaged in such activities are not hereby precluded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not issue any senior security (as defined in the 1940 Act), except that (i) the Fund may engage in transactions that may result in the issuance of senior securities to the extent permitted under applicable regulations and interpretations of the 1940 Act or an exemptive order; (ii) the Fund may acquire other securities, the acquisition of which may result in the issuance of a senior security, to the extent permitted under applicable regulations or interpretations of the 1940 Act; and (iii) subject to the restrictions set forth above, the Fund may borrow money as authorized by the 1940 Act. For purposes of this restriction, collateral arrangements with respect to permissible options and futures transactions, including deposits of initial and variation margin, are not considered to be the issuance of a senior security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May not underwrite securities issued by other persons except insofar as the Fund may technically be deemed to be an underwriter under the Securities Act in selling a portfolio security.

In addition, as a matter of fundamental policy, notwithstanding any other investment policy or restriction, the Growth Advantage Fund may seek to achieve its investment objective by investing all of its investable assets in another investment company having substantially the same investment objective and policies as the Fund. For purposes of investment policy (2) above, loan participations are considered to be debt instruments. For purposes of investment policy (5) above, real estate includes real estate limited partnerships. For purposes of investment policy (3) above, industrial development bonds, where the payment of principal and interest is the ultimate responsibility of companies within the same industry, are grouped together as an "industry." Investment policy (3) above, however, is not applicable to investments by the Fund in municipal obligations where the issuer is regarded as a state, city, municipality or other public authority since such entities are not members of an "industry." Supranational organizations are collectively considered to be members of a single "industry" for purposes of policy (3) above.

**Non-Fundamental Investment Policies.** The Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not make short sales of securities, other than short sales "against the box," or purchase securities on margin except for short-term credits necessary for clearance of portfolio transactions, provided that this policy will not be applied to limit the use of options, futures contracts and related options, in the manner otherwise permitted by the investment restrictions or policies and investment program of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not purchase or sell interests in oil, gas or mineral leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not write, purchase or sell any put or call option or any combination thereof, provided that this shall not prevent (i) the writing, purchasing or selling of puts, calls or combinations thereof with respect to portfolio securities or (ii) with respect to the Fund's permissible futures and options transactions, the writing, purchasing, ownership, holding or selling of futures and options positions or of puts, calls or combinations thereof with respect to futures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Except as specified above, may invest up to 5% of its total assets in the securities of any one investment company, but may not own more than 3% of the securities of any one investment company or invest more than 10% of its total assets in the securities of other investment companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May not, with respect to 50% of its assets, hold more than 10% of the outstanding shares of issuers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

Part I - 11

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For purposes of the investment policies regarding the Growth Advantage Fund, the issuer of a tax-exempt security is deemed to be the entity (public or private) ultimately responsible for the payment of the principal of and interest on the security.

In order to permit the sale of its shares in certain states, the Growth Advantage Fund may make commitments more restrictive than the investment policies and limitations described above and in its Prospectus. Should the Fund determine that any such commitment is no longer in its best interests, it will revoke the commitment by terminating sales of shares in the state involved.

**Investment Policies of the Mid Cap Equity Fund** 

**Fundamental Investment Policies.** The Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not borrow money, except to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May make loans to other persons, in accordance with such Fund's investment objective and policies and to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or repurchase agreements secured thereby) if, as a result, more than 25% of the Fund's total assets would be invested in the securities of companies whose principal business activities are in the same industry. Notwithstanding the foregoing, with respect to a Fund's permissible futures and options transactions in U.S. Government securities, positions in such options and futures shall not be subject to this restriction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not purchase or sell physical commodities unless acquired as a result of ownership of securities or other instruments but this shall not prevent a Fund from (i) purchasing or selling options and futures contracts or from investing in securities or other instruments backed by physical commodities or (ii) engaging in forward purchases or sales of foreign currencies or securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May not purchase or sell real estate unless acquired as a result of ownership of securities or other instruments (but this shall not prevent a Fund from investing in securities or other instruments backed by real estate or securities of companies engaged in the real estate business). Investments by a Fund in securities backed by mortgages on real estate or in marketable securities of companies engaged in such activities are not hereby precluded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not issue any senior security (as defined in the 1940 Act), except that (i) a Fund may engage in transactions that may result in the issuance of senior securities to the extent permitted under applicable regulations and interpretations of the 1940 Act or an exemptive order; (ii) a Fund may acquire other securities, the acquisition of which may result in the issuance of a senior security, to the extent permitted under applicable regulations or interpretations of the 1940 Act; and (iii) subject to the restrictions set forth above, a Fund may borrow money as authorized by the 1940 Act. For purposes of this restriction, collateral arrangements with respect to permissible options and futures transactions, including deposits of initial and variation margin, are not considered to be the issuance of a senior security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May not underwrite securities issued by other persons except insofar as a Fund may technically be deemed to be an underwriter under the Securities Act in selling a portfolio security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) May not purchase securities of any issuer if such a purchase would not be consistent with the maintenance of the Fund's status as a diversified company under the 1940 Act, or the rules or regulations thereunder, as such statute, rules or regulations may be amended from time to time.

In addition, as a matter of fundamental policy, notwithstanding any other investment policy or restriction, the Mid Cap Equity Fund, may seek to achieve its investment objective by investing all of its investable assets in another investment company having substantially the same investment objective and policies as the Fund. For purposes of investment policy (5) above, real estate includes real estate limited partnerships. For purposes of investment policy (3) above, industrial development bonds, where the payment of principal and interest is the ultimate responsibility of companies within the same industry, are grouped together as an "industry." Investment policy (3) above, however, is not applicable to investments by a Fund in municipal obligations where the issuer is regarded as a state, city, municipality or other public authority since such entities are not members of an "industry." Supranational organizations are collectively considered to be members of a single "industry" for purposes of policy (3) above.

Part I - 12

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**Non-Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not, with respect to 50% of its assets, hold more than 10% of the outstanding voting securities of any issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not make short sales of securities, other than short sales against the box, or purchase securities on margin except for short-term credits necessary for clearance of portfolio transactions, provided that this policy will not be applied to limit the use of options, future contracts and related options, in the manner otherwise permitted by the investment restrictions, policies and investment program of a Fund. No Fund has the current intention of making short sales against the box.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not purchase or sell interests in oil, gas or mineral leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not write, purchase or sell any put or call option or any combination thereof, provided that this shall not prevent (i) the writing, purchasing or selling of puts, calls or combinations thereof with respect to portfolio securities or (ii) with respect to a Fund's permissible futures and options transactions, the writing, purchasing, ownership, holding or selling of futures and options positions or of puts, calls or combinations thereof with respect to futures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May invest in the securities of other investment companies to the extent permitted by applicable Federal securities law; provided, however, that a Mauritius holding company (a "Mauritius Portfolio Company") will not be considered an investment company for this purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

For purposes of the investment policies regarding the Mid Cap Equity Fund, the issuer of a tax-exempt security is deemed to be the entity (public or private) ultimately responsible for the payment of the principal of and interest on the security.

**Investment Policies of the U.S. GARP Equity Fund, the U.S. Sustainable Leaders Fund and the Value Advantage Fund**

**Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not make any investment inconsistent with the Fund's classification as a diversified investment company under the Investment Company Act of 1940. This policy does not apply to the U.S. GARP Equity Fund, which is non-diversified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not purchase any security which would cause the Fund to concentrate its investments in the securities of issuers primarily engaged in any particular industry except as permitted by the SEC. For purposes of fundamental investment policies regarding industry concentration, a Fund may not invest more than 25% of its total assets in the securities of issuers primarily engaged in any particular industry (other than securities issued or guaranteed by the U.S. government, any state or territory of the U.S., its agencies, instrumentalities or political subdivisions).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not issue senior securities, except as permitted under the Investment Company Act of 1940 or any rule, order or interpretation thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) May not borrow money, except to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) May not underwrite securities of other issuers, except to the extent that the Fund, in disposing of Fund securities, may be deemed an underwriter within the meaning of the Securities Act of 1933.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) May not purchase or sell real estate, except that, to the extent permitted by applicable law, the Fund may (a) invest in securities or other instruments directly or indirectly secured by real estate, (b) invest in securities or other instruments issued by issuers that invest in real estate and make direct investments in mortgages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) May not purchase or sell commodities or commodity contracts unless acquired as a result of ownership of securities or other instruments issued by persons that purchase or sell commodities or commodities contracts; but this shall not prevent the Fund from purchasing, selling and entering into financial futures contracts (including futures contracts on indices of securities,

Part I - 13

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interest rates and currencies), options on financial futures contracts (including futures contracts on indices of securities, interest rates and currencies), warrants, swaps, forward contracts, foreign currency spot and forward contracts or other derivative instruments that are not related to physical commodities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) May make loans to other persons, in accordance with the Fund's investment objective and policies and to the extent permitted by applicable law.

**Non-Fundamental Investment Policies.** Each of the Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) May not purchase securities on margin, make short sales of securities, or maintain a short position, provided that this policy shall not be deemed to be applicable to the purchase or sale of when-issued or delayed delivery securities, or to short sales that are covered in accordance with SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) May not acquire securities of other investment companies, except as permitted by the 1940 Act or any order pursuant thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) May not acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

In addition, the Funds may borrow money from banks for temporary or short-term purposes. But, none of the Funds may borrow money to buy additional securities, which is known as "leverage."

**Investment Policies of Funds that are Series of JPMT II**

**Fundamental Investment Policies.** None of the Funds may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Purchase securities of any issuer if such purchase would not be consistent with the maintenance of the Fund's status as a diversified company under the 1940 Act, or the rules or regulations thereunder, as such statute, rules or regulations may be amended from time to time. This policy does not apply to the Large Cap Growth Fund, which is non-diversified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Purchase any securities that would cause more than 25% of the total assets of a Fund to be invested in the securities of one or more issuers conducting their principal business activities in the same industry, provided that: (i) this limitation does not apply to investments in obligations issued or guaranteed by the U.S. government or its agencies and instrumentalities and repurchase agreements involving such securities. For purposes of this limitation (i) utilities will be divided according to their services (for example, gas, gas transmission, electric and telephone will each be considered a separate industry); and (ii) wholly-owned finance companies will be considered to be in the industries of their parents if their activities are primarily related to financing the activities of their parents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Make loans, except that a Fund may (i) purchase or hold debt instruments in accordance with its investment objective and policies; (ii) enter into repurchase agreements; (iii) engage in securities lending as described in the Prospectus and the Statement of Additional Information; and (iv) make loans to the extent permitted by an order issued by the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Underwrite the securities of other issuers except to the extent that a Fund may be deemed to be an underwriter under certain securities laws in the disposition of "restricted securities."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Purchase physical commodities or contracts relating to physical commodities, except as permitted under the 1940 Act, or operate as a commodity pool, in each case as interpreted or modified by regulatory authority having jurisdiction, from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Purchase participation or other direct interests in oil, gas or mineral exploration or development programs (although investments by all Funds in marketable securities of companies engaged in such activities are not hereby precluded).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Borrow money, except to the extent permitted under the 1940 Act, or the rules or regulations thereunder, as such statute, rules or regulations may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Purchase securities of other investment companies except as permitted by the 1940 Act and rules, regulations and applicable exemptive relief thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) Issue senior securities except with respect to any permissible borrowings.

Part I - 14

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) Purchase or sell real estate (however, each Fund may, to the extent appropriate to its investment objective, purchase securities secured by real estate or interests therein or securities issued by companies investing in real estate or interests therein).

Part I - 15

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None of the Funds may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Purchase securities on margin or sell securities short except, for use of short-term credit necessary for clearance of purchases of portfolio securities.

**Non-Fundamental Investment Policies.**

The following policy applies to the Equity Index Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Fund may not invest more than 10% of its total assets in securities issued or guaranteed by the United States, its agencies or instrumentalities. Repurchase agreements held in margin deposits and segregated accounts for futures contracts are not considered issued or guaranteed by the United States, its agencies or instrumentalities for purposes of the 10% limitation.

The following policy applies to SMID Cap Equity Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Fund may not acquire securities of any other investment company or company relying on section 3(c)(1) or 3(c)(7) in excess of the limits contained in Section 12(d)(1)(A) of the Investment company Act of 1940, except to the extent it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Invest in affiliated money market funds for short-term cash management purposes,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) engages in interfund borrowing and lending transactions, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) receives securities of another investment company as a dividend or as result of a plan of reorganization of a company.

None of the Funds may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Acquire the securities of registered open-end investment companies or registered unit investment trusts in reliance on Section 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act.

**INVESTMENT PRACTICES**

The Funds invest in a variety of securities and employ a number of investment techniques. What follows is a list of some of the securities and techniques which may be utilized by the Funds. For a more complete discussion, see the "Investment Strategies and Policies" section in Part II of this SAI.

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| | |
|:---|:---|
| **FUND NAME** | **FUND CODE** |
| Diversified Fund | 1 |
| Equity Income Fund | 2 |
| Equity Index Fund | 3 |
| Equity Premium Income Fund | 4 |
| Growth Advantage Fund | 5 |
| Hedged Equity Fund | 6 |
| Hedged Equity 2 Fund | 7 |
| Hedged Equity 3 Fund | 8 |
| Large Cap Growth Fund | 9 |
| Large Cap Value Fund | 10 |
| Mid Cap Equity Fund | 11 |
| Mid Cap Growth Fund | 12 |
| Mid Cap Value Fund | 13 |
| Small Cap Blend Fund | 14 |
| Small Cap Equity Fund | 15 |
| Small Cap Growth Fund | 16 |
| Small Cap Value Fund | 17 |
| SMID Cap Equity Fund | 18 |
| U.S. Equity Fund | 19 |
| U.S. GARP Equity Fund | 20 |
| U.S. Large Cap Core Plus Fund | 21 |
| U.S. Research Enhanced Equity Fund | 22 |
| U.S. Small Company Fund | 23 |

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Part I - 16

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| | |
|:---|:---|
| **FUND NAME** | **FUND CODE** |
| U.S. Sustainable Leaders Fund | 24 |
| U.S. Value Fund | 25 |
| Value Advantage Fund | 26 |

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

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| | | |
|:---|:---|:---|
| **Instrument** | **Fund Code** | &nbsp;&nbsp; **Part II**<br> **Section Reference**<br>|
| &nbsp;&nbsp;&nbsp; *Adjustable Rate Mortgage Loans ("ARMs"):* Loans in a <br> mortgage pool which provide for a fixed initial mortgage <br> interest rate for a specified period of time, after which the <br> rate may be subject to periodic adjustments.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18, <br> 20, 24-26<br>| &nbsp;&nbsp; Mortgage-Related<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *Asset-Backed Securities:* Securities secured by company <br> receivables, home equity loans, truck and auto loans, leases, <br> and credit card receivables or other securities backed by <br> other types of receivables or other assets.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18, <br> 20, 24-26<br>| &nbsp;&nbsp; Asset-Backed<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *Auction Rate Securities:* Auction rate municipal securities <br> and auction rate preferred securities issued by closed-end <br> investment companies.<br>| &nbsp;&nbsp; 2, 5, 11-18, <br> 20, 24-26<br>| &nbsp;&nbsp; Auction Rate<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *Bank Obligations:* Bankers' acceptances, certificates of <br> deposit and time deposits. Bankers' acceptances are bills of <br> exchange or time drafts drawn on and accepted by a <br> commercial bank. Maturities are generally six months or <br> less. Certificates of deposit are negotiable certificates issued <br> by a bank for a specified period of time and earning a <br> specified return. Time deposits are non-negotiable receipts <br> issued by a bank in exchange for the deposit of funds.<br>| 1-26 | Bank Obligations |
| &nbsp;&nbsp;&nbsp; *Borrowings:* A Fund may borrow for temporary purposes <br> and/or for investment purposes. Such a practice will result <br> in leveraging of a Fund's assets and may cause a Fund to <br> liquidate portfolio positions when it would not be <br> advantageous to do so. A Fund must maintain continuous <br> asset coverage of 300% of the amount borrowed, with the <br> exception for borrowings not in excess of 5% of the Fund's <br> total assets made for temporary administrative purposes.<br>| 1-26 | &nbsp;&nbsp; Miscellaneous<br> Investment <br> Strategies<br> and Risks<br>|
| &nbsp;&nbsp;&nbsp; *Brady Bonds:* Securities created through the exchange of <br> existing commercial bank loans to public and private entities <br> in certain emerging markets for new bonds in connection <br> with debt restructurings.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18, <br> 20, 24-26<br>| &nbsp;&nbsp; Foreign Investments<br> (including Foreign<br> Currencies)<br>|
| &nbsp;&nbsp;&nbsp; *Call and Put Options:* A call option gives the buyer the right <br> to buy, and obligates the seller of the option to sell, a <br> security at a specified price at a future date. A put option <br> gives the buyer the right to sell, and obligates the seller of <br> the option to buy, a security at a specified price at a future <br> date.<br>| 1-26 | &nbsp;&nbsp; Options and Futures<br> Transactions<br>|
| &nbsp;&nbsp;&nbsp; *Commercial Paper:* Secured and unsecured short-term <br> promissory notes issued by corporations and other entities. <br> Maturities generally vary from a few days to nine months.<br>| 1-3, 5-26 | Commercial Paper |
| *Common Stock:* Shares of ownership of a company. | 1-26 | &nbsp;&nbsp; Equity Securities,<br> Warrants and Rights<br>|
| &nbsp;&nbsp;&nbsp; *Common Stock Warrants and Rights:* Securities, typically <br> issued with preferred stock or bonds, that give the holder the <br> right to buy a proportionate amount of common stock at a <br> specified price.<br>| 1-26 | &nbsp;&nbsp; Equity Securities,<br> Warrants and Rights<br>|
| &nbsp;&nbsp;&nbsp; *Convertible Securities:* Bonds or preferred stock that can <br> convert to common stock including contingent convertible <br> securities.<br>| 1-26 | &nbsp;&nbsp; Convertible<br> Securities<br>|

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Part I - 17

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| | | |
|:---|:---|:---|
| **Instrument** | **Fund Code** | &nbsp;&nbsp; **Part II**<br> **Section Reference**<br>|
| &nbsp;&nbsp;&nbsp; *Corporate Debt Securities:* May include bonds and other <br> debt securities of domestic and foreign issuers, including <br> obligations of industrial, utility, banking and other corporate <br> issuers.<br>| &nbsp;&nbsp; 1-3, 5, 9,<br> 11-20, 22-26<br>| Debt Instruments |
| &nbsp;&nbsp;&nbsp; *Credit Default Swaps ("CDSs"):* A swap agreement <br> between two parties pursuant to which one party pays the <br> other a fixed periodic coupon for the specified life of the <br> agreement. The other party makes no payment unless a <br> credit event, relating to a predetermined reference asset, <br> occurs. If such an event occurs, the party will then make a <br> payment to the first party, and the swap will terminate.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-12, <br> 14-18, 20, <br> 24-26<br>| &nbsp;&nbsp; Swaps and Related<br> Swap Products<br>|
| &nbsp;&nbsp;&nbsp; *Demand Features:* Securities that are subject to puts and <br> standby commitments to purchase the securities at a fixed <br> price (usually with accrued interest) within a fixed period of <br> time following demand by a Fund.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18, <br> 20, 24-26<br>| Demand Features |
| &nbsp;&nbsp;&nbsp; *Emerging Market Securities:* Securities issued by issuers or <br> governments in countries with emerging economies or <br> securities markets which may be undergoing significant <br> evolution and rapid development.<br>| 1-2, 5, 11-26 | &nbsp;&nbsp; Foreign Investments<br> (including Foreign<br> Currencies)<br>|
| &nbsp;&nbsp;&nbsp; *Exchange-Traded Funds ("ETFs"):* Ownership interest in <br> unit investment trusts, depositary receipts, and other pooled <br> investment vehicles that hold a portfolio of securities or <br> stocks designed to track the price performance and dividend <br> yield of a particular broad-based, sector or international <br> index. ETFs include a wide range of investments.<br>| 1-26 | &nbsp;&nbsp; Investment <br> Company<br> Securities and<br> Exchange-Traded <br> Funds<br>|
| &nbsp;&nbsp;&nbsp; *Foreign Currency Transactions:* Strategies used to hedge <br> against currency risks, for other risk management purposes <br> or to increase income or gain to a Fund. These strategies <br> may consist of use of any of the following: options on <br> currencies, currency futures, options on such futures, <br> forward foreign currency transactions (including non-<br> deliverable forwards ("NDFs")), forward rate agreements <br> and currency swaps, caps and floors.<br>| &nbsp;&nbsp; 1-2, 5, 9, <br> 11-20, <br> 24, 26<br>| &nbsp;&nbsp; Foreign Investments<br> (including Foreign<br> Currencies)<br>|
| &nbsp;&nbsp;&nbsp; *Foreign Investments:* Equity and debt securities (e.g., bonds <br> and commercial paper) of foreign entities and obligations of <br> foreign branches of U.S. banks and foreign banks. Foreign <br> securities may also include American Depositary Receipts <br> ("ADRs"), Global Depositary Receipts ("GDRs"), European <br> Depositary Receipts ("EDRs") and American Depositary <br> Securities.<br>| 1-26 | &nbsp;&nbsp; Foreign Investments<br> (including Foreign<br> Currencies)<br>|
| &nbsp;&nbsp;&nbsp; *High Yield/High Risk Securities/Junk Bonds:* Securities that <br> are generally rated below investment grade by the primary <br> rating agencies or are unrated but are deemed by a Fund's <br> Adviser to be of comparable quality.<br>| &nbsp;&nbsp; 1-2, 5, 9,<br> 11-18, 20, <br> 24-26<br>| Debt Instruments |
| &nbsp;&nbsp;&nbsp; *Inflation-Linked Debt Securities:* Includes fixed and floating <br> rate debt securities of varying maturities issued by the U.S. <br> government as well as securities issued by other entities <br> such as corporations, foreign governments and foreign <br> issuers.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18, <br> 20, 24-26<br>| Debt Instruments |
| &nbsp;&nbsp;&nbsp; *Initial Public Offerings ("IPOs"):* A transaction in which a <br> previously private company makes its first sale of stock to <br> the public.<br>| 1-26 | &nbsp;&nbsp; Equity Securities,<br> Warrants and Rights<br>|
| &nbsp;&nbsp;&nbsp; *Interfund Lending:* Involves lending money and borrowing <br> money for temporary purposes through a credit facility.<br>| 1-3, 5-26 | &nbsp;&nbsp; Miscellaneous<br> Investment <br> Strategies<br> and Risks<br>|

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Part I - 18

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| | | |
|:---|:---|:---|
| **Instrument** | **Fund Code** | &nbsp;&nbsp; **Part II**<br> **Section Reference**<br>|
| &nbsp;&nbsp;&nbsp; *Inverse Floating Rate Instruments:* Leveraged variable debt <br> instruments with interest rates that reset in the opposite <br> direction from the market rate of interest to which the <br> inverse floater is indexed.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18, <br> 20, 24-26<br>| &nbsp;&nbsp; Inverse Floaters and<br> Interest Rate Caps<br>|
| &nbsp;&nbsp;&nbsp; *Investment Company Securities:* Shares of other investment <br> companies, including money market funds for which the <br> Adviser and/or its affiliates serve as investment adviser or <br> administrator. The Adviser will waive certain fees when <br> investing in funds for which it serves as investment adviser, <br> to the extent required by law or by contract.<br>| 1-26 | &nbsp;&nbsp; Investment <br> Company<br> Securities and <br> Exchange-Traded<br> Funds<br>|
| &nbsp;&nbsp;&nbsp; *Loan Assignments and Participations:* Assignments of, or <br> participations in, all or a portion of loans to corporations or <br> governments, including governments in less developed <br> countries.<br>| &nbsp;&nbsp; 1-2, 5, 9,<br> 11-18, 20, <br> 24-26<br>| Loans |
| &nbsp;&nbsp;&nbsp; *Master Limited Partnerships ("MLPs"):* Limited <br> partnerships that are publicly traded on a securities <br> exchange.<br>| 1-26 | &nbsp;&nbsp; Master Limited<br> Partnerships<br>|
| &nbsp;&nbsp;&nbsp; *Mortgages (Directly Held):* Debt instruments secured by <br> real property.<br>| &nbsp;&nbsp; 2, 5, 9-21, <br> 24-26<br>| &nbsp;&nbsp; Mortgage-Related <br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *Mortgage-Backed Securities:* Debt obligations secured by <br> real estate loans and pools of loans such as collateralized <br> mortgage obligations ("CMOs"), commercial mortgage-<br> backed securities ("CMBSs") and other asset-backed <br> structures.<br>| &nbsp;&nbsp; 1-2, 5, 9-18,<br> 20, 24-26<br>| &nbsp;&nbsp; Mortgage-Related<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *Mortgage Dollar Rolls:* A transaction in which a Fund sells <br> securities for delivery in a current month and <br> simultaneously contracts with the same party to repurchase <br> similar but not identical securities on a specified future date.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18, <br> 20, 24-26<br>| &nbsp;&nbsp; Mortgage-Related<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *Municipal Securities:* Securities issued by a state or political <br> subdivision to obtain funds for various public purposes. <br> Municipal securities include, among others, private activity <br> bonds and industrial development bonds, as well as general <br> obligation notes, tax anticipation notes, bond anticipation <br> notes, revenue anticipation notes, other short-term tax-<br> exempt obligations, municipal leases, obligations of <br> municipal housing authorities and single-family revenue <br> bonds.<br>| &nbsp;&nbsp; 1-2, 5, 9-18,<br> 20, 24-26<br>| Municipal Securities |
| &nbsp;&nbsp;&nbsp; *New Financial Products:* New options and futures contracts <br> and other financial products continue to be developed and a <br> Fund may invest in such options, contracts and products.<br>| 1-26 | &nbsp;&nbsp; Miscellaneous<br> Investment <br> Strategies<br> and Risks<br>|
| &nbsp;&nbsp;&nbsp; *Obligations of Supranational Agencies:* Obligations which <br> are chartered to promote economic development and are <br> supported by various governments and governmental <br> agencies.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-18,<br> 20, 24-26<br>| &nbsp;&nbsp; Foreign Investments<br> (including Foreign<br> Currencies)<br>|
| &nbsp;&nbsp;&nbsp; *Options and Futures Transactions:* A Fund may purchase <br> and sell (a) exchange traded and over-the-counter put and <br> call options on securities, indexes of securities and futures <br> contracts on securities and indexes of securities and (b) <br> futures contracts on securities and indexes of securities.<br>| 1-26 | &nbsp;&nbsp; Options and Futures<br> Transactions<br>|
| &nbsp;&nbsp;&nbsp; *Preferred Stock:* A class of stock that generally pays a <br> dividend at a specified rate and has preference over common <br> stock in the payment of dividends and in liquidation.<br>| 1-26 | &nbsp;&nbsp; Equity Securities,<br> Warrants and Rights<br>|
| &nbsp;&nbsp;&nbsp; *Private Placements, Restricted Securities and Other* <br> *Unregistered Securities:* Securities not registered under the <br> Securities Act of 1933, such as privately placed commercial <br> paper and Rule 144A securities.<br>| 1-26 | &nbsp;&nbsp; Miscellaneous<br> Investment <br> Strategies<br> and Risks<br>|

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Part I - 19

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| | | |
|:---|:---|:---|
| **Instrument** | **Fund Code** | &nbsp;&nbsp; **Part II**<br> **Section Reference**<br>|
| &nbsp;&nbsp;&nbsp; *Real Estate Investment Trusts ("REITs"):* Pooled investment <br> vehicles which invest primarily in income producing real <br> estate or real estate related loans or interest.<br>| 1-26 | &nbsp;&nbsp; Real Estate<br> Investment Trusts<br>|
| &nbsp;&nbsp;&nbsp; *Repurchase Agreements:* The purchase of a security and the <br> simultaneous commitment to return the security to the seller <br> at an agreed upon price on an agreed upon date. This is <br> treated as a loan.<br>| 1-3, 5-26 | &nbsp;&nbsp; Repurchase<br> Agreements<br>|
| &nbsp;&nbsp;&nbsp; *Reverse Repurchase Agreements:* The sale of a security and <br> the simultaneous commitment to buy the security back at an <br> agreed upon price on an agreed upon date. This is treated as <br> a borrowing by a Fund.<br>| 1-3, 5-26 | &nbsp;&nbsp; Reverse Repurchase<br> Agreements<br>|
| &nbsp;&nbsp;&nbsp; *Securities Issued in Connection with Reorganizations and* <br> *Corporate Restructurings:* In connection with reorganizing <br> or restructuring of an issuer, an issuer may issue common <br> stock or other securities to holders of its debt securities.<br>| 1-3, 5-26 | &nbsp;&nbsp; Miscellaneous<br> Investment <br> Strategies<br> and Risks<br>|
| &nbsp;&nbsp;&nbsp; *Securities Lending:* The lending of up to 33<sup> 1</sup>∕3% of a Fund's <br> total assets. In return, a Fund will receive cash, other <br> securities and/or letters of credit as collateral.<br>| 1-26 | Securities Lending |
| &nbsp;&nbsp;&nbsp; *Short Selling:* A Fund sells a security it does not own in <br> anticipation of a decline in the market value of the security. <br> To complete the transaction, a Fund must borrow the <br> security to make delivery to the buyer. A Fund is obligated <br> to replace the security borrowed by purchasing it <br> subsequently at the market price at the time of replacement.<br>| &nbsp;&nbsp; 1, 5, 11, <br> 13-15, <br> 20-21,<br> 24-26<br>| Short Selling |
| &nbsp;&nbsp;&nbsp; *Short-Term Funding Agreements:* Agreements issued by <br> banks and highly rated U.S. insurance companies such as <br> Guaranteed Investment Contracts ("GICs") and Bank <br> Investment Contracts ("BICs").<br>| 1-3, 5-26 | &nbsp;&nbsp; Short-Term Funding<br> Agreements<br>|
| &nbsp;&nbsp;&nbsp; *Sovereign Obligations:* Investments in debt obligations <br> issued or guaranteed by a foreign sovereign government, or <br> its agencies, authorities or political subdivisions.<br>| &nbsp;&nbsp; 1-2, 5, <br> 11-21, <br> 24-26<br>| &nbsp;&nbsp; Foreign Investments<br> (including Foreign<br> Currencies)<br>|
| &nbsp;&nbsp;&nbsp; *Stripped Mortgage-Backed Securities:* Derivative multi-<br> class mortgage securities which are usually structured with <br> two classes of shares that receive different proportions of the <br> interest and principal from a pool of mortgage assets. These <br> include Interest Only ("IO") and Principal-Only ("PO") <br> securities issued outside a Real Estate Mortgage Investment <br> Conduit ("REMIC") or CMO structure.<br>| 1-2, 5, 11-26 | &nbsp;&nbsp; Mortgage-Related<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *Structured Investments:* A security having a return tied to an <br> underlying index or other security or asset class. Structured <br> investments generally are individually negotiated <br> agreements and may be traded over-the-counter. Structured <br> investments are organized and operated to restructure the <br> investment characteristics of the underlying index, <br> commodity, currency or financial instrument.<br>| &nbsp;&nbsp; 1-2, 4-5, <br> 9-18, <br> 20, 24, 26<br>| &nbsp;&nbsp; Structured<br> Investments<br>|
| &nbsp;&nbsp;&nbsp; *Swaps and Related Swap Products:* Swaps involve an <br> exchange of obligations by two parties. Caps and floors <br> entitle a purchaser to a principal amount from the seller of <br> the cap or floor to the extent that a specified index exceeds <br> or falls below a predetermined interest rate or amount. A <br> Fund may enter into these transactions to manage its <br> exposure to changing interest rates and other factors.<br>| &nbsp;&nbsp; 1-3, 5, <br> 9-26<br>| &nbsp;&nbsp; Swaps and Related<br> Swap Products<br>|

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Part I - 20

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| | | |
|:---|:---|:---|
| **Instrument** | **Fund Code** | &nbsp;&nbsp; **Part II**<br> **Section Reference**<br>|
| &nbsp;&nbsp;&nbsp; *Synthetic Variable Rate Instruments:* Instruments that <br> generally involve the deposit of a long-term tax exempt <br> bond in a custody or trust arrangement and the creation of a <br> mechanism to adjust the long-term interest rate on the bond <br> to a variable short-term rate and a right (subject to certain <br> conditions) on the part of the purchaser to tender it <br> periodically to a third party at par.<br>| &nbsp;&nbsp; 2, 5, 11-18, <br> 20, <br> 24-26<br>| &nbsp;&nbsp; Swaps and Related<br> Swap Products<br>|
| &nbsp;&nbsp;&nbsp; *Temporary Defensive Positions:* To respond to unusual <br> circumstances, a Fund may invest a portion of its total assets <br> in cash and cash equivalents for temporary defensive <br> purposes.<br>| 1-26 | &nbsp;&nbsp; Miscellaneous<br> Investment <br> Strategies<br> and Risks<br>|

| &nbsp;&nbsp;&nbsp; *Trust Preferreds:* Securities with characteristics of both <br> subordinated debt and preferred stock. Trust preferreds are <br> generally long term securities that make periodic fixed or <br> variable interest payments.<br>| &nbsp;&nbsp; 1-3, 5, 9, <br> 11-22, 24-26<br>| &nbsp;&nbsp; Trust Preferred<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *U.S. Government Agency Securities:* Securities issued by <br> agencies and instrumentalities of the U.S. government. <br> These include all types of securities issued by the <br> Government National Mortgage Association ("Ginnie <br> Mae"), the Federal National Mortgage Association ("Fannie <br> Mae") and the Federal Home Loan Mortgage Corporation <br> ("Freddie Mac"), including funding notes, subordinated <br> benchmark notes, CMOs and REMICs.<br>| 1-3, 5-26 | &nbsp;&nbsp; Mortgage-Related<br> Securities<br>|
| &nbsp;&nbsp;&nbsp; *U.S. Government Obligations:* May include direct <br> obligations of the U.S. Treasury, including Treasury bills, <br> notes and bonds, all of which are backed as to principal and <br> interest payments by the full faith and credit of the United <br> States, and separately traded principal and interest <br> component parts of such obligations that are transferable <br> through the Federal book-entry system known as Separate <br> Trading of Registered Interest and Principal of Securities <br> ("STRIPS") and Coupons Under Book-Entry-Safekeeping <br> ("CUBES").<br>| 1-3, 5-26 | &nbsp;&nbsp; U.S. Government<br> Obligations<br>|
| &nbsp;&nbsp;&nbsp; *Variable and Floating Rate Instruments:* Obligations with <br> interest rates which are reset daily, weekly, quarterly or some <br> other frequency and which may be payable to a Fund on <br> demand or at the expiration of a specified term.<br>| &nbsp;&nbsp; 1-2, 5, 9-18, <br> 20, 22, <br> 24-26<br>| Debt Instruments |
| &nbsp;&nbsp;&nbsp; *When-Issued Securities, Delayed Delivery Securities and* <br> *Forward Commitments:* Purchase or contract to purchase <br> securities at a fixed price for delivery at a future date.<br>| 1-3, 5-26 | &nbsp;&nbsp; When-Issued<br> Securities, Delayed<br> Delivery Securities<br> and Forward<br> Commitments<br>|

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Part I - 21

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| | | |
|:---|:---|:---|
| **Instrument** | **Fund Code** | &nbsp;&nbsp; **Part II**<br> **Section Reference**<br>|
| &nbsp;&nbsp;&nbsp; *Zero-Coupon, Pay-in-Kind and Deferred Payment* <br> *Securities:* Zero-coupon securities are securities that are <br> sold at a discount to par value and on which interest <br> payments are not made during the life of the security. Pay-<br> in-kind securities are securities that have interest payable by <br> delivery of additional securities. Deferred payment <br> securities are zero-coupon debt securities which convert on <br> a specified date to interest bearing debt securities.<br>| &nbsp;&nbsp; 1-2, 5, 9,<br> 11-18, 20, <br> 24-26<br>| Debt Instruments |

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**ADDITIONAL INFORMATION REGARDING INVESTMENT PRACTICES**

**Foreign Investments**

Except as noted below, investments in all types of foreign securities will not exceed 20% of the total assets of the Funds (except for the Diversified Fund).

**Limitations on the Use of Futures**

In addition, none of the JPMT II Funds will enter into futures contracts to the extent that the value of the futures contracts held would exceed 25% of the respective Fund's total assets.

**Limitations on the Use of Options**

Each JPMT II Fund will limit the writing of put and call options to 25% of its net assets. These Funds may enter into over-the-counter option transactions provided there exists an active over-the-counter market for such options that will establish their pricing and liquidity.

**Index Investing by the Equity Index Fund** 

The Equity Index Fund attempts to track the aggregate price and dividend performance of the Standard & Poor's ("S&P") 500 Composite Stock Price Index (the "Index") to achieve a correlation between the performance of the Fund and that of the index of at least 0.95, without taking into account expenses. A correlation of 1.00 would indicate perfect correlation, which would be achieved when the Fund's net asset value, including the value of its dividend and capital gains distributions, increases or decreases in exact proportion to changes in the Index. The Fund's ability to correlate its performance with the Index, however, may be affected by, among other things, changes in securities markets, the manner in which the Index is calculated by S&P and the timing of purchases and redemptions. In the future, the Trustees of the Trust, subject to the approval of Shareholders, may select another index if such a standard of comparison is deemed to be more representative of the performance of common stocks.

S&P chooses the stocks to be included in the Index largely on a statistical basis. Inclusion of a stock in the Index in no way implies an opinion by S&P as to its attractiveness as an investment. The Index is determined, composed and calculated by S&P without regard to the Equity Index Fund. S&P is neither a sponsor of, nor in any way affiliated with the Equity Index Fund, and S&P makes no representation or warranty, expressed or implied, on the advisability of investing in the Equity Index Fund or as to the ability of the Index to track general stock market performance. S&P disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Index or any data included in the Index. "S&P 500" is a service mark of S&P.

The weights of stocks in the Index are based on each stock's relative total market value, i.e., market price per share times the number of Shares outstanding. Typically, companies included in the Index are the largest and most dominant firms in their respective industries.

The Adviser generally selects stocks for the Equity Index Fund in the order of their weights in the Index beginning with the heaviest weighted stocks. The percentage of the Equity Index Fund's assets to be invested in each stock is approximately the same as the percentage it represents in the Index. No attempt is made to manage the Equity Index Fund in the traditional sense using economic, financial and market analysis. The Equity Index Fund is managed using a computer program to determine which stocks are to be purchased and sold to replicate the Index to the extent feasible. From time to time, administrative adjustments may be made in the Fund because of changes in the composition of the Index, but such changes should be infrequent.

Part I - 22

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*Limitations on Purchases of Securities.* In addition to restrictions imposed on the index funds under the 1940 Act, the Adviser may be restricted from purchasing securities for the Equity Index Fund due to various regulatory requirements applicable to such securities. Such regulatory requirements (e.g., regulations applicable to banking entities, insurance companies and public utility holdings companies) may limit the amount of securities that may be owned by accounts over which the Adviser or its affiliates have discretionary authority or control. As a result, there may be times when the Adviser is unable to purchase securities that would otherwise be purchased to replicate the applicable index.

**Use of When-Issued Securities and Forward Commitments**

Each JPMT II Fund intends to purchase "when issued" securities only for the purpose of acquiring portfolio securities, not for speculative purposes. Because a Fund will set aside cash or liquid portfolio securities to satisfy its purchase commitments in the manner described, the Fund's liquidity and the ability of the Adviser to manage the Fund might be affected in the event its commitments to purchase when-issued securities ever exceeded 40% of the value of its assets. Commitments to purchase when-issued securities will not, under normal market conditions, exceed 25% of a Fund's total assets. A Fund may dispose of a when-issued security or forward commitment prior to settlement if the Adviser deems it appropriate to do so.

**Investments in Other J.P. Morgan Funds by JPMorgan Diversified Fund**

The JPMorgan Diversified Fund can invest in any J.P. Morgan Fund eligible to be an underlying fund for another Fund.

**QUALITY DESCRIPTION**

The JPMT II Funds may purchase commercial paper consisting of issues rated at the time of purchase in the top two rating categories by at least one a nationally recognized statistical rating organization ("NRSRO") (such as A-2 or better by Standard & Poor's Corporation (S&P), Prime-2 or better by Moody's Investor Service Inc. (Moody's), F-2 or better by Fitch Ratings (Fitch) or R-2 or better by Dominion Bond Rating Service (DBRS)) or if unrated, determined by the Adviser to be of comparable quality.

At the time a JPMT I Fund invests in any commercial paper, bank obligation or repurchase agreement, the issuer must have outstanding debt rated A or higher by Moody's or S&P and the issuer's parent corporation, if any, must have outstanding commercial paper rated Prime-1 by Moody's or A-1 by S&P, or if no such ratings are available, the investment must be of comparable quality in the Adviser's opinion. At the time a JPMT I Fund invests in any other short-term debt securities, they must be rated A or higher by Moody's or S&P, or if unrated, the investment must be of comparable quality in the Adviser's opinion.

**DIVERSIFICATION**

JPMT I, JPMT II, JPMT IV, JPMMFIT and JPMFMFG are each a registered open-end investment company. All of the Funds except the JPMorgan U.S. GARP Equity Fund, JPMorgan Large Cap Growth Fund and the JPMorgan Growth Advantage Fund intend to meet the diversification requirement of the 1940 Act. The JPMorgan U.S. GARP Equity Fund, JPMorgan Large Cap Growth Fund and the JPMorgan Growth Advantage Fund are "non-diversified" series of the Trusts.

For a more complete discussion, see the "Diversification" section in Part II of this SAI.

**PORTFOLIO TURNOVER**

A portfolio turnover rate is, in summary, the percentage computed by dividing the lesser of a Fund's purchases or sales of securities (excluding short-term securities) by the average market value of the Fund. The Adviser intends to manage each Fund's assets by buying and selling securities to help attain its investment objective. A rate of 100% indicates that the equivalent of all of a Fund's assets have been sold and reinvested in a year. Higher portfolio turnover may affect the amount, timing and character of distributions, and, as a result, may increase the amount of taxes payable by shareholders. High portfolio turnover also results in higher transaction costs. To the extent that net short-term capital gains are realized by a Fund, any distributions resulting from such gains are considered ordinary income for federal income tax purposes. For a more complete discussion, see the "Distributions and Tax Matters" section in Part II of this SAI.

Part I - 23

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The table below sets forth the following Fund's portfolio turnover rate for the fiscal years (including short sales as noted below) indicated:

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| | | |
|:---|:---|:---|
|  | **Fiscal Year Ended June 30,** | **Fiscal Year Ended June 30,** |
| **Fund** | **2023** | **2024** |
| U.S. Large Cap Core Plus Fund | &nbsp;&nbsp; 99% | &nbsp;&nbsp; 109% |

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The table below sets forth the Funds' portfolio turnover rate (excluding short sales) for the two most recently completed fiscal years:

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| | | |
|:---|:---|:---|
|  | **Fiscal Year Ended June 30,** | **Fiscal Year Ended June 30,** |
| **Fund** | **2023** | **2024** |
| Diversified Fund | &nbsp;&nbsp; 94% | &nbsp;&nbsp; 63% |
| Equity Income Fund | &nbsp;&nbsp;&nbsp; 8% | &nbsp;&nbsp; 20% |
| Equity Index Fund | &nbsp;&nbsp; 15% | &nbsp;&nbsp;&nbsp; 5% |
| Equity Premium Income Fund | &nbsp;&nbsp; 189% | &nbsp;&nbsp; 176% |
| Growth Advantage Fund | &nbsp;&nbsp; 38% | &nbsp;&nbsp; 28% |
| Hedged Equity Fund | &nbsp;&nbsp; 27% | &nbsp;&nbsp; 37% |
| Hedged Equity 2 Fund | &nbsp;&nbsp; 35% | &nbsp;&nbsp; 42% |
| Hedged Equity 3 Fund | &nbsp;&nbsp; 48% | &nbsp;&nbsp; 56% |
| Large Cap Growth Fund | &nbsp;&nbsp; 42% | &nbsp;&nbsp; 32% |
| Large Cap Value Fund | &nbsp;&nbsp; 143% | &nbsp;&nbsp; 167% |
| Mid Cap Equity Fund | &nbsp;&nbsp; 40% | &nbsp;&nbsp; 38% |
| Mid Cap Growth Fund | &nbsp;&nbsp; 45% | &nbsp;&nbsp; 55% |
| Mid Cap Value Fund | &nbsp;&nbsp; 12% | &nbsp;&nbsp; 13% |
| Small Cap Blend Fund | &nbsp;&nbsp; 37% | &nbsp;&nbsp; 39% |
| Small Cap Equity Fund | &nbsp;&nbsp; 22% | &nbsp;&nbsp; 19% |
| Small Cap Growth Fund | &nbsp;&nbsp; 33% | &nbsp;&nbsp; 43% |
| Small Cap Value Fund | &nbsp;&nbsp; 79% | &nbsp;&nbsp; 61% |
| SMID Cap Equity Fund | &nbsp;&nbsp; 32% | &nbsp;&nbsp; 39% |
| U.S. Equity Fund | &nbsp;&nbsp; 47% | &nbsp;&nbsp; 53% |
| U.S. GARP Equity Fund | &nbsp;&nbsp; 45% | &nbsp;&nbsp; 46% |
| U.S. Large Cap Core Plus Fund | &nbsp;&nbsp; 66% | &nbsp;&nbsp; 62% |
| U.S. Research Enhanced Equity Fund | &nbsp;&nbsp; 32% | &nbsp;&nbsp; 39% |
| U.S. Small Company Fund | &nbsp;&nbsp; 83% | &nbsp;&nbsp; 61% |
| U.S. Sustainable Leaders Fund | &nbsp;&nbsp; 39% | &nbsp;&nbsp; 25% |
| U.S. Value Fund | &nbsp;&nbsp; 12% | &nbsp;&nbsp; 18% |
| Value Advantage Fund | &nbsp;&nbsp; 24% | &nbsp;&nbsp; 17% |

---

**TRUSTEES**

**Standing Committees**

As of the fiscal year ended June 30, 2025, there were seven standing committees of the Board of Trustees: (i) the Audit and Valuation Committee, (ii) the Compliance Committee, (iii) the Governance Committee, (iv) the Equity Committee, (v) the ETF Committee, (vi) the Fixed Income Committee, and (vii) the Money Market and Alternative Products Committee. The following table shows how often each Committee met during the fiscal year ended June 30, 2025:

---

| | |
|:---|:---|
| **Committee** | **Fiscal Year Ended** <br> **June 30, 2025**<br>|
| Audit and Valuation Committee | 5 |
| Compliance Committee | 5 |
| Governance Committee | 6 |
| Equity Committee | 5 |
| ETF Committee | 4 |
| Fixed Income Committee | 5 |
| Money Market and Alternative Products Committee | 5 |

---

For a more complete discussion, see the "Trustees" section in Part II of this SAI.

Part I - 24

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**Ownership of Securities**

The following table shows the dollar range of each Trustee's beneficial ownership of equity securities in the Funds and each Trustee's aggregate dollar range of ownership in the J.P. Morgan Funds as of December 31, 2024:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Diversified**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Equity**<br> **Income**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Equity**<br> **Index**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Equity**<br> **Premium**<br> **Income**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Growth**<br> **Advantage**<br> **Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn |  | Over<br> $100,000<br>|  |  |  |
| Stephen P. Fisher |  |  |  |  |  |
| Gary L. French |  |  |  | Over<br> $100,000<br>|  |
| Kathleen M. Gallagher |  |  | Over<br> $100,000<br>|  |  |
| Robert J. Grassi |  |  |  |  |  |
| Frankie D. Hughes |  |  |  |  |  |
| Raymond Kanner |  |  |  |  |  |
| Thomas P. Lemke |  |  | Over<br> $100,000<br>|  |  |
| Lawrence R. Maffia |  |  |  |  |  |
| Mary E. Martinez |  |  |  |  |  |
| Marilyn McCoy |  |  |  |  |  |
| Emily A. Youssouf |  | Over<br> $100,000<br>|  |  |  |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch |  |  |  |  |  |
| Nina O. Shenker |  |  |  |  |  |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Hedged**<br> **Equity**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Hedged**<br> **Equity 2**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Hedged**<br> **Equity 3**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Large Cap**<br> **Growth**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Large Cap**<br> **Value**<br> **Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn |  |  |  | Over<br> $100,000<br>|  |
| Stephen P. Fisher |  |  |  |  |  |
| Gary L. French |  |  |  | Over<br> $100,000<br>|  |
| Kathleen M. Gallagher |  |  |  |  |  |
| Robert J. Grassi |  |  |  |  |  |
| Frankie D. Hughes |  |  |  |  |  |
| Raymond Kanner | Over<br> $100,000<br>| Over<br> $100,000<br>| Over<br> $100,000<br>|  |  |
| Thomas P. Lemke |  |  |  |  | $50001–<br> $100000<br>|
| Lawrence R. Maffia |  |  |  |  |  |
| Mary E. Martinez |  |  |  |  |  |
| Marilyn McCoy |  |  |  |  |  |
| Emily A. Youssouf |  |  |  | Over<br> $100,000<br>|  |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch |  |  |  |  |  |
| Nina O. Shenker |  |  |  | Over<br> $100,000<br>|  |

---

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

Part I - 25

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Mid Cap**<br> **Equity**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Mid Cap**<br> **Growth**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Mid Cap**<br> **Value**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Small Cap**<br> **Blend Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Small Cap**<br> **Equity Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn | Over<br> $100,000<br>|  |  |  |  |
| Stephen P. Fisher |  |  |  |  |  |
| Gary L. French |  |  |  |  |  |
| Kathleen M. Gallagher |  |  |  |  |  |
| Robert J. Grassi |  |  |  |  |  |
| Frankie D. Hughes |  |  |  |  |  |
| Raymond Kanner |  |  |  |  | Over<br> $100,000<br>|
| Thomas P. Lemke |  |  |  |  |  |
| Lawrence R. Maffia |  |  |  |  |  |
| Mary E. Martinez |  |  |  |  |  |
| Marilyn McCoy |  |  |  |  |  |
| Emily A. Youssouf |  |  |  |  |  |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch |  |  |  |  |  |
| Nina O. Shenker |  |  |  |  |  |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Small Cap**<br> **Growth Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Small Cap**<br> **Value Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **SMID Cap**<br> **Equity Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Equity**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **GARP**<br> **Equity**<br> **Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn |  |  |  |  |  |
| Stephen P. Fisher |  |  |  |  |  |
| Gary L. French |  |  |  |  |  |
| Kathleen M. Gallagher |  |  |  |  |  |
| Robert J. Grassi |  |  |  |  |  |
| Frankie D. Hughes |  |  |  |  |  |
| Raymond Kanner |  |  |  |  |  |
| Thomas P. Lemke |  |  | $50001–<br> $100000<br>|  |  |
| Lawrence R. Maffia |  |  |  |  |  |
| Mary E. Martinez |  |  |  |  |  |
| Marilyn McCoy |  |  |  |  |  |
| Emily A. Youssouf | Over<br> $100,000<br>|  |  |  |  |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch |  |  |  |  |  |
| Nina O. Shenker |  |  |  |  |  |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Large Cap**<br> **Core Plus**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Research**<br> **Enhanced**<br> **Equity Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Small**<br> **Company**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Sustainable**<br> **Leaders**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Value**<br> **Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn | None | None | None | None | None |
| Stephen P. Fisher | None | None | None | None | None |
| Gary L. French | None | None | None | None | None |
| Kathleen M. Gallagher | None | None | None | None | None |
| Robert J. Grassi | None | None | None | None | None |
| Frankie D. Hughes | None | None | None | None | None |

---

Part I - 26

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Large Cap**<br> **Core Plus**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Research**<br> **Enhanced**<br> **Equity Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Small**<br> **Company**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Sustainable**<br> **Leaders**<br> **Fund**<br>| **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **U.S.**<br> **Value**<br> **Fund**<br>|
| Raymond Kanner |  | Over<br> $100,000<br>|  |  |  |
| Thomas P. Lemke |  |  |  |  |  |
| Lawrence R. Maffia |  |  |  |  |  |
| Mary E. Martinez |  |  |  |  |  |
| Marilyn McCoy |  |  |  |  |  |
| Emily A. Youssouf |  |  |  |  |  |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch |  |  |  |  | Over<br> $100,000<br>|
| Nina O. Shenker |  |  |  |  | Over<br> $100,000<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Name of Trustee** | **Dollar Range**<br> **of Equity**<br> **Securities in**<br> **Value**<br> **Advantage**<br> **Fund**<br>| **Aggregate**<br> **Dollar Range**<br> **of Equity**<br> **Securities**<br> **in All** <br> **Registered**<br> **Investment**<br> **Companies**<br> **Overseen by the**<br> **Trustee in**<br> **Family of**<br> **Investment**<br> **Companies**<sup>1,2</sup> <br>|
| **Independent Trustees** |  |  |
| John F. Finn |  | Over $100,000 |
| Stephen P. Fisher |  | Over $100,000 |
| Gary L. French |  | Over $100,000 |
| Kathleen M. Gallagher |  | Over $100,000 |
| Robert J. Grassi |  | Over $100,000 |
| Frankie D. Hughes |  | Over $100,000 |
| Raymond Kanner |  | Over $100,000 |
| Thomas P. Lemke |  | Over $100,000 |
| Lawrence R. Maffia |  | Over $100,000 |
| Mary E. Martinez |  | Over $100,000 |
| Marilyn McCoy |  | Over $100,000 |
| Emily A. Youssouf |  | Over $100,000 |
| **Interested Trustees** |  |  |
| Robert Deutsch |  | Over $100,000 |
| Nina O. Shenker |  | Over $100,000 |

---

A Family of Investment Companies means any two or more registered investment companies that share the same investment adviser or principal underwriter and hold themselves out to investors as related companies for purposes of investment and investor services. The Family of Investment Companies for which the Board of Trustees currently serves includes eight registered investment companies (169 J.P. Morgan Funds).

For Mses. Gallagher, McCoy, Youssouf and Shenker and Messrs. French, Grassi, Kanner, Lemke and Deutsch, these amounts include deferred compensation balances, as of 12/31/24, through participation in the J.P. Morgan Funds' Deferred Compensation Plan for Eligible Trustees. For a more complete discussion, see the "Trustee Compensation" section in Part II of this SAI.

As of December 31, 2024, none of the Independent Trustees or their immediate family members owned securities of the Adviser or JPMDS or a person (other than a registered investment company) directly or indirectly controlling, controlled by or under common control with the Adviser or JPMDS.

**Trustee Compensation**

For the year ended December 31, 2024, the Trustees were paid an annual fee of $436,800 (with any new trustees receiving a pro rata portion of the base fee depending on when each became a trustee) and reimbursed for expenses incurred in connection with service as a Trustee. Effective January 1, 2025, the

Part I - 27

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Trustees are paid an annual fee of $460,000 (with any new trustees receiving a pro rata portion of the base fee depending on when each became a trustee) and are reimbursed for expenses incurred in connection with service as a Trustee. Committee chairs who are not already receiving an additional fee are each paid $65,000 annually in addition to their base fee. In addition to the base fee, the Chair of the Board of Trustees receives $240,000 annually and is reimbursed expenses in the amount of $4,000 per month. In addition to the base fee, the Vice Chair of the Board of Trustees receives $140,000 annually.

For funds that are series of the J.P. Morgan Exchange-Traded Fund Trust and which have a unitary management fee, Trustee compensation for the funds is paid from the management fee by JPMIM. For all other funds, Trustee compensation is paid by the fund. Aggregate Trustee compensation for each Trustee paid by a Fund and all funds in the Fund Complex for the calendar year ended December 31, 2024, is set forth below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Diversified**<br> **Fund**<br>| **Equity**<br> **Income Fund**<br>| **Equity**<br> **Index Fund**<br>| **Equity Premium**<br> **Income Fund**<br>| **Growth**<br> **Advantage Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn | $1749 | $19189 | $4395 | $3572 | $6901 |
| Stephen P. Fisher | &nbsp;&nbsp; 1668 | &nbsp;&nbsp; 11526 | &nbsp;&nbsp; 3164 | &nbsp;&nbsp; 2698 | &nbsp;&nbsp; 4579 |
| Gary L. French | &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |
| Kathleen M. Gallagher | &nbsp;&nbsp; 1668 | &nbsp;&nbsp; 11526 | &nbsp;&nbsp; 3164 | &nbsp;&nbsp; 2698 | &nbsp;&nbsp; 4579 |
| Robert J. Grassi | &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |
| Frankie D. Hughes | &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |
| Raymond Kanner | &nbsp;&nbsp; 1668 | &nbsp;&nbsp; 11526 | &nbsp;&nbsp; 3164 | &nbsp;&nbsp; 2698 | &nbsp;&nbsp; 4579 |
| Thomas P. Lemke | &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |
| Lawrence R. Maffia | &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |
| Mary E. Martinez | &nbsp;&nbsp; 1703 | &nbsp;&nbsp; 14810 | &nbsp;&nbsp; 3692 | &nbsp;&nbsp; 3073 | &nbsp;&nbsp; 5574 |
| Marilyn McCoy | &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |
| Dr. Robert A. Oden, Jr. | &nbsp;&nbsp; 1668 | &nbsp;&nbsp; 11526 | &nbsp;&nbsp; 3164 | &nbsp;&nbsp; 2698 | &nbsp;&nbsp; 4579 |
| Marian U. Pardo | &nbsp;&nbsp; 1668 | &nbsp;&nbsp; 11526 | &nbsp;&nbsp; 3164 | &nbsp;&nbsp; 2698 | &nbsp;&nbsp; 4579 |
| Emily A. Youssouf | &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch | &nbsp;&nbsp; 1668 | &nbsp;&nbsp; 11526 | &nbsp;&nbsp; 3164 | &nbsp;&nbsp; 2698 | &nbsp;&nbsp; 4579 |
| Nina O. Shenker<sup>8</sup> <br>| &nbsp;&nbsp; 1638 | &nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 2706 | &nbsp;&nbsp; 2374 | &nbsp;&nbsp; 3717 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Hedged**<br> **Equity Fund**<br>| **Hedged**<br> **Equity 2 Fund**<br>| **Hedged**<br> **Equity 3 Fund**<br>| **Large Cap**<br> **Growth Fund**<br>| **Large Cap**<br> **Value Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn | $7277 | $3227 | $2487 | $20939 | $2865 |
| Stephen P. Fisher | &nbsp;&nbsp; 4792 | &nbsp;&nbsp; 2504 | &nbsp;&nbsp; 2085 | &nbsp;&nbsp; 12511 | &nbsp;&nbsp; 2299 |
| Gary L. French | &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |
| Kathleen M. Gallagher | &nbsp;&nbsp; 4792 | &nbsp;&nbsp; 2504 | &nbsp;&nbsp; 2085 | &nbsp;&nbsp; 12511 | &nbsp;&nbsp; 2299 |
| Robert J. Grassi | &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |
| Frankie D. Hughes | &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |
| Raymond Kanner | &nbsp;&nbsp; 4792 | &nbsp;&nbsp; 2504 | &nbsp;&nbsp; 2085 | &nbsp;&nbsp; 12511 | &nbsp;&nbsp; 2299 |
| Thomas P. Lemke | &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |
| Lawrence R. Maffia | &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |
| Mary E. Martinez | &nbsp;&nbsp; 5857 | &nbsp;&nbsp; 2814 | &nbsp;&nbsp; 2258 | &nbsp;&nbsp; 16123 | &nbsp;&nbsp; 2542 |
| Marilyn McCoy | &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |
| Dr. Robert A. Oden, Jr. | &nbsp;&nbsp; 4792 | &nbsp;&nbsp; 2504 | &nbsp;&nbsp; 2085 | &nbsp;&nbsp; 12511 | &nbsp;&nbsp; 2299 |
| Marian U. Pardo | &nbsp;&nbsp; 4792 | &nbsp;&nbsp; 2504 | &nbsp;&nbsp; 2085 | &nbsp;&nbsp; 12511 | &nbsp;&nbsp; 2299 |
| Emily A. Youssouf | &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch | &nbsp;&nbsp; 4792 | &nbsp;&nbsp; 2504 | &nbsp;&nbsp; 2085 | &nbsp;&nbsp; 12511 | &nbsp;&nbsp; 2299 |
| Nina O. Shenker<sup>8</sup> <br>| &nbsp;&nbsp; 3869 | &nbsp;&nbsp; 2235 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp; 2089 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Mid Cap**<br> **Equity Fund**<br>| **Mid Cap**<br> **Growth Fund**<br>| **Mid Cap**<br> **Value Fund**<br>| **Small Cap**<br> **Blend Fund**<br>| **Small Cap**<br> **Equity Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn | $2819 | $4779 | $6502 | $2025 | $3658 |
| Stephen P. Fisher | &nbsp;&nbsp; 2273 | &nbsp;&nbsp; 3380 | &nbsp;&nbsp; 4354 | &nbsp;&nbsp; 1824 | &nbsp;&nbsp; 2747 |
| Gary L. French | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |
| Kathleen M. Gallagher | &nbsp;&nbsp; 2273 | &nbsp;&nbsp; 3380 | &nbsp;&nbsp; 4354 | &nbsp;&nbsp; 1824 | &nbsp;&nbsp; 2747 |
| Robert J. Grassi | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |
| Frankie D. Hughes | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |

---

Part I - 28

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Mid Cap**<br> **Equity Fund**<br>| **Mid Cap**<br> **Growth Fund**<br>| **Mid Cap**<br> **Value Fund**<br>| **Small Cap**<br> **Blend Fund**<br>| **Small Cap**<br> **Equity Fund**<br>|
| Raymond Kanner | $2273 | $3380 | $4354 | $1824 | $2747 |
| Thomas P. Lemke | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |
| Lawrence R. Maffia | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |
| Mary E. Martinez | &nbsp;&nbsp; 2507 | &nbsp;&nbsp; 3980 | &nbsp;&nbsp; 5275 | &nbsp;&nbsp; 1910 | &nbsp;&nbsp; 3138 |
| Marilyn McCoy | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |
| Dr. Robert A. Oden, Jr. | &nbsp;&nbsp; 2273 | &nbsp;&nbsp; 3380 | &nbsp;&nbsp; 4354 | &nbsp;&nbsp; 1824 | &nbsp;&nbsp; 2747 |
| Marian U. Pardo | &nbsp;&nbsp; 2273 | &nbsp;&nbsp; 3380 | &nbsp;&nbsp; 4354 | &nbsp;&nbsp; 1824 | &nbsp;&nbsp; 2747 |
| Emily A. Youssouf | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch | &nbsp;&nbsp; 2273 | &nbsp;&nbsp; 3380 | &nbsp;&nbsp; 4354 | &nbsp;&nbsp; 1824 | &nbsp;&nbsp; 2747 |
| Nina O. Shenker<sup>8</sup> <br>| &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 2861 | &nbsp;&nbsp; 3557 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 2409 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Small Cap**<br> **Growth Fund**<br>| **Small Cap**<br> **Value Fund**<br>| **SMID Cap**<br> **Equity Fund**<br>| **U.S. Equity**<br> **Fund**<br>| **U.S. GARP**<br> **Equity Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn | $2974 | $2059 | $1678 | $9546 | $1958 |
| Stephen P. Fisher | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 1843 | &nbsp;&nbsp; 1628 | &nbsp;&nbsp; 6074 | &nbsp;&nbsp; 1786 |
| Gary L. French | &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |
| Kathleen M. Gallagher | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 1843 | &nbsp;&nbsp; 1628 | &nbsp;&nbsp; 6074 | &nbsp;&nbsp; 1786 |
| Robert J. Grassi | &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |
| Frankie D. Hughes | &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |
| Raymond Kanner | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 1843 | &nbsp;&nbsp; 1628 | &nbsp;&nbsp; 6074 | &nbsp;&nbsp; 1786 |
| Thomas P. Lemke | &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |
| Lawrence R. Maffia | &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |
| Mary E. Martinez | &nbsp;&nbsp; 2623 | &nbsp;&nbsp; 1936 | &nbsp;&nbsp; 1649 | &nbsp;&nbsp; 7562 | &nbsp;&nbsp; 1859 |
| Marilyn McCoy | &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |
| Dr. Robert A. Oden, Jr. | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 1843 | &nbsp;&nbsp; 1628 | &nbsp;&nbsp; 6074 | &nbsp;&nbsp; 1786 |
| Marian U. Pardo | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 1843 | &nbsp;&nbsp; 1628 | &nbsp;&nbsp; 6074 | &nbsp;&nbsp; 1786 |
| Emily A. Youssouf | &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 1843 | &nbsp;&nbsp; 1628 | &nbsp;&nbsp; 6074 | &nbsp;&nbsp; 1786 |
| Nina O. Shenker<sup>8</sup> <br>| &nbsp;&nbsp; 2132 | &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 1609 | &nbsp;&nbsp; 4785 | &nbsp;&nbsp; 1722 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **U.S. Large Cap**<br> **Core Plus Fund**<br>| **U.S. Research**<br> **Enhanced**<br> **Equity Fund**<br>| **U.S. Small**<br> **Company**<br> **Fund**<br>| **U.S.**<br> **Sustainable**<br> **Leaders Fund**<br>| **U.S. Value**<br> **Fund**<br>|
| **Independent Trustees** |  |  |  |  |  |
| John F. Finn | $2065 | $4178 | $1893 | $1627 | $3210 |
| Stephen P. Fisher | &nbsp;&nbsp; 1847 | &nbsp;&nbsp; 3041 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 1599 | &nbsp;&nbsp; 2494 |
| Gary L. French | &nbsp;&nbsp; 1766 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |
| Kathleen M. Gallagher | &nbsp;&nbsp; 1847 | &nbsp;&nbsp; 3041 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 1599 | &nbsp;&nbsp; 2494 |
| Robert J. Grassi | &nbsp;&nbsp; 1765 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |
| Frankie D. Hughes | &nbsp;&nbsp; 1765 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |
| Raymond Kanner | &nbsp;&nbsp; 1847 | &nbsp;&nbsp; 3041 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 1599 | &nbsp;&nbsp; 2494 |
| Thomas P. Lemke | &nbsp;&nbsp; 1766 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |
| Lawrence R. Maffia | &nbsp;&nbsp; 1765 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |
| Mary E. Martinez | &nbsp;&nbsp; 1940 | &nbsp;&nbsp; 3528 | &nbsp;&nbsp; 1811 | &nbsp;&nbsp; 1611 | &nbsp;&nbsp; 2801 |
| Marilyn McCoy | &nbsp;&nbsp; 1765 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |
| Dr. Robert A. Oden, Jr. | &nbsp;&nbsp; 1847 | &nbsp;&nbsp; 3041 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 1599 | &nbsp;&nbsp; 2494 |
| Marian U. Pardo | &nbsp;&nbsp; 1847 | &nbsp;&nbsp; 3041 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 1599 | &nbsp;&nbsp; 2494 |
| Emily A. Youssouf | &nbsp;&nbsp; 1766 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |
| **Interested Trustees** |  |  |  |  |  |
| Robert Deutsch | &nbsp;&nbsp; 1847 | &nbsp;&nbsp; 3041 | &nbsp;&nbsp; 1749 | &nbsp;&nbsp; 1599 | &nbsp;&nbsp; 2494 |
| Nina O. Shenker<sup>8</sup> <br>| &nbsp;&nbsp; 1765 | &nbsp;&nbsp; 2618 | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 1588 | &nbsp;&nbsp; 2228 |

---

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

---

| | | |
|:---|:---|:---|
| **Name of Trustee** | **Value Advantage**<br> **Fund**<br>| **Total**<br> **Compensation**<br> **Paid From**<br> **Fund**<br> **Complex**<sup>1</sup> <br>|
| **Independent Trustees** |  |  |
| John F. Finn | $4853 | $660000 |
| Stephen P. Fisher | &nbsp;&nbsp; 3422 | &nbsp;&nbsp; 485000 |

---

Part I - 29

------

---

| | | |
|:---|:---|:---|
| **Name of Trustee** | **Value Advantage**<br> **Fund**<br>| **Total**<br> **Compensation**<br> **Paid From**<br> **Fund**<br> **Complex**<sup>1</sup><br>|
| Gary L. French | $2891 | $420000<sup>2</sup> <br>|
| Kathleen M. Gallagher | &nbsp;&nbsp; 3422 | &nbsp;&nbsp; 485000<sup>3</sup> <br>|
| Robert J. Grassi | &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 420000 |
| Frankie D. Hughes | &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 420000 |
| Raymond Kanner | &nbsp;&nbsp; 3422 | &nbsp;&nbsp; 485000<sup>4</sup> <br>|
| Thomas P. Lemke | &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 420000<sup>5</sup> <br>|
| Lawrence R. Maffia | &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 420000 |
| Mary E. Martinez | &nbsp;&nbsp; 4035 | &nbsp;&nbsp; 560000 |
| Marilyn McCoy | &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 420000<sup>6</sup> <br>|
| Dr. Robert A. Oden, Jr. | &nbsp;&nbsp; 3422 | &nbsp;&nbsp; 485000 |
| Marian U. Pardo | &nbsp;&nbsp; 3422 | &nbsp;&nbsp; 485000 |
| Emily A. Youssouf | &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 420000<sup>2</sup> <br>|
| **Interested Trustees** |  |  |
| Robert Deutsch | &nbsp;&nbsp; 3422 | &nbsp;&nbsp; 485000<sup>7</sup> <br>|
| Nina O. Shenker<sup>8</sup> <br>| &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 420000<sup>6</sup> <br>|

---

A Fund Complex means two or more registered investment companies that (i) hold themselves out to investors as related companies for purposes of investment and investor services or (ii) have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees currently serves includes eight registered investment companies (168 J.P. Morgan Funds).

Includes $126,000 of Deferred Compensation.

Includes $145,500 of Deferred Compensation.

Includes $485,000 of Deferred Compensation.

Includes $252,000 of Deferred Compensation.

Includes $420,000 of Deferred Compensation.

Includes $194,000 of Deferred Compensation.

The compensation Ms. Shenker received from the Funds for the period ended 12/31/23 was reimbursed by JPMIM.

For a more complete discussion, see the "Trustee Compensation" section in Part II of this SAI.

**INVESTMENT ADVISER**

**Investment Advisory Fees**

The table below sets forth the investment advisory fees paid by the Funds to JPMIM (waived amounts are in parentheses), as applicable with respect to the fiscal years indicated (amounts in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| Diversified Fund | &nbsp;&nbsp; $3841 | &nbsp;&nbsp; $(591) | &nbsp;&nbsp; $2475 | &nbsp;&nbsp; $(480) | &nbsp;&nbsp; $1862 | &nbsp;&nbsp; $(329) |
| Equity Income Fund | &nbsp;&nbsp; 195472 | &nbsp;&nbsp;&nbsp; (1074) | &nbsp;&nbsp; 190701 | &nbsp;&nbsp;&nbsp; (1589) | &nbsp;&nbsp; 183109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (504) |
| Equity Index Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp; (2924) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2939) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3555) |
| Equity Premium Income Fund | &nbsp;&nbsp;&nbsp;&nbsp; 5091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (340) | &nbsp;&nbsp;&nbsp; 11695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (190) | &nbsp;&nbsp;&nbsp; 14847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (116) |
| Growth Advantage Fund | &nbsp;&nbsp;&nbsp; 77580 | &nbsp;&nbsp;&nbsp; (5135) | &nbsp;&nbsp;&nbsp; 65662 | &nbsp;&nbsp;&nbsp; (7169) | &nbsp;&nbsp;&nbsp; 86999 | &nbsp;&nbsp;&nbsp; (8557) |
| Hedged Equity Fund | &nbsp;&nbsp;&nbsp; 46463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (201) | &nbsp;&nbsp;&nbsp; 38060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (316) | &nbsp;&nbsp;&nbsp; 42497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (715) |
| Hedged Equity 2 Fund | &nbsp;&nbsp;&nbsp;&nbsp; 8754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (485) | &nbsp;&nbsp;&nbsp; 12265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (246) | &nbsp;&nbsp;&nbsp; 11553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (116) |
| Hedged Equity 3 Fund | &nbsp;&nbsp;&nbsp;&nbsp; 4610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (357) | &nbsp;&nbsp;&nbsp;&nbsp; 6339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (216) | &nbsp;&nbsp;&nbsp;&nbsp; 6581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87) |
| Large Cap Growth Fund | &nbsp;&nbsp; 152229 | &nbsp;&nbsp; (16154) | &nbsp;&nbsp; 165810 | &nbsp;&nbsp; (18874) | &nbsp;&nbsp; 313336 | &nbsp;&nbsp; (23703) |
| Large Cap Value Fund | &nbsp;&nbsp;&nbsp; 12293 | &nbsp;&nbsp;&nbsp; (1243) | &nbsp;&nbsp;&nbsp; 12393 | &nbsp;&nbsp;&nbsp; (1307) | &nbsp;&nbsp;&nbsp; 13336 | &nbsp;&nbsp;&nbsp; (1338) |
| Mid Cap Equity Fund | &nbsp;&nbsp;&nbsp; 17044 | &nbsp;&nbsp;&nbsp; (2129) | &nbsp;&nbsp;&nbsp; 18190 | &nbsp;&nbsp;&nbsp; (2286) | &nbsp;&nbsp;&nbsp; 22957 | &nbsp;&nbsp;&nbsp; (2771) |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp; 54917 | &nbsp;&nbsp;&nbsp; (1820) | &nbsp;&nbsp;&nbsp; 49200 | &nbsp;&nbsp;&nbsp; (2519) | &nbsp;&nbsp;&nbsp; 63270 | &nbsp;&nbsp;&nbsp; (2821) |
| Mid Cap Value Fund | &nbsp;&nbsp; 102822 | &nbsp;&nbsp;&nbsp; (5096) | &nbsp;&nbsp;&nbsp; 83047 | &nbsp;&nbsp;&nbsp; (7664) | &nbsp;&nbsp;&nbsp; 78137 | &nbsp;&nbsp;&nbsp; (6934) |
| Small Cap Blend Fund | &nbsp;&nbsp;&nbsp;&nbsp; 7565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (213) | &nbsp;&nbsp;&nbsp;&nbsp; 7514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (252) | &nbsp;&nbsp;&nbsp;&nbsp; 8666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (256) |
| Small Cap Equity Fund | &nbsp;&nbsp;&nbsp; 48518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (198) | &nbsp;&nbsp;&nbsp; 37878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (256) | &nbsp;&nbsp;&nbsp; 33087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (182) |
| Small Cap Growth Fund | &nbsp;&nbsp;&nbsp; 35939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (374) | &nbsp;&nbsp;&nbsp; 25285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (333) | &nbsp;&nbsp;&nbsp; 23961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (185) |
| Small Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp; 9491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38) | &nbsp;&nbsp;&nbsp;&nbsp; 8542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (151) | &nbsp;&nbsp;&nbsp;&nbsp; 8703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (181) |
| SMID Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 1986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (130) | &nbsp;&nbsp;&nbsp;&nbsp; 1526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (199) | &nbsp;&nbsp;&nbsp;&nbsp; 1707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (248) |
| U.S. Equity Fund | &nbsp;&nbsp;&nbsp; 79635 | &nbsp;&nbsp;&nbsp; (4153) | &nbsp;&nbsp;&nbsp; 76154 | &nbsp;&nbsp;&nbsp; (4326) | &nbsp;&nbsp;&nbsp; 97901 | &nbsp;&nbsp;&nbsp; (4193) |
| U.S. GARP Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 3248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (465) | &nbsp;&nbsp;&nbsp;&nbsp; 2659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (406) | &nbsp;&nbsp;&nbsp;&nbsp; 3326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (452) |
| U.S. Large Cap Core Plus Fund | &nbsp;&nbsp;&nbsp; 15186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (595) | &nbsp;&nbsp;&nbsp;&nbsp; 8789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (746) | &nbsp;&nbsp;&nbsp; 10107 | &nbsp;&nbsp;&nbsp; (1085) |

---

Part I - 30

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| U.S. Research Enhanced Equity <br> Fund<br>| &nbsp;&nbsp; $11729 | &nbsp;&nbsp; $(3218) | &nbsp;&nbsp; $13718 | &nbsp;&nbsp; $(3598) | &nbsp;&nbsp; $15922 | &nbsp;&nbsp; $(4317) |
| U.S. Small Company Fund | &nbsp;&nbsp;&nbsp;&nbsp; 6365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21) | &nbsp;&nbsp;&nbsp;&nbsp; 5434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22) | &nbsp;&nbsp;&nbsp;&nbsp; 5507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23) |
| U.S. Sustainable Leaders Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (197) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (169) |
| U.S. Value Fund | &nbsp;&nbsp;&nbsp;&nbsp; 7855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (943) | &nbsp;&nbsp;&nbsp; 13753 | &nbsp;&nbsp;&nbsp; (1400) | &nbsp;&nbsp;&nbsp; 19122 | &nbsp;&nbsp;&nbsp; (1876) |
| Value Advantage Fund | &nbsp;&nbsp;&nbsp; 55283 | &nbsp;&nbsp;&nbsp; (3777) | &nbsp;&nbsp;&nbsp; 45906 | &nbsp;&nbsp;&nbsp; (5201) | &nbsp;&nbsp;&nbsp; 43331 | &nbsp;&nbsp;&nbsp; (4874) |

---

For more information about the investment adviser, see the "Investment Adviser and Sub-Advisers" section in Part II of this SAI.

**PORTFOLIO MANAGERS**

**Portfolio Managers' Other Accounts Managed\***

The following table shows information regarding the other accounts managed for which advisory fees are not based on the performance of the accounts that are managed by each portfolio manager as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** |
|  | **Registered Investment** <br> **Companies** | **Registered Investment** <br> **Companies** | **Other Pooled Investment** <br> **Vehicles** | **Other Pooled Investment** <br> **Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>|
| **Diversified Fund** |  |  |  |  |  |  |
| Gary Herbert | 11 | $20315384 | 17 | $28205204 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | $2378236 |
| Morgan Moriarty | &nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp; 11975756 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 1824110 | &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp; 10701780 |
| Charles Fishman | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 2469807 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 1824110 | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp; 3354988 |
| **Equity Income Fund** |  |  |  |  |  |  |
| David Silberman | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 12830600 | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 8420013 | &nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp; 6794027 |
| Andrew Brandon | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 12830600 | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 8420013 | &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp; 3817171 |
| **Equity Index Fund** |  |  |  |  |  |  |
| Michael Loeffler | 19 | &nbsp;&nbsp;&nbsp; 67206962 | 10 | &nbsp;&nbsp; 41051028 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609257 |
| Nicholas D'Eramo | 19 | &nbsp;&nbsp;&nbsp; 67206962 | 10 | &nbsp;&nbsp; 41051028 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609257 |
| Todd McEwen | 10 | &nbsp;&nbsp;&nbsp; 46307594 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 40132765 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Equity Premium Income Fund** |  |  |  |  |  |  |
| Hamilton Reiner | 13 | &nbsp;&nbsp; 103712724 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Raffaele Zingone | 16 | &nbsp;&nbsp;&nbsp; 92327751 | 18 | &nbsp;&nbsp; 32798208 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 23410955 |
| Matthew Bensen | 11 | &nbsp;&nbsp; 102345750 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Judy Jansen | 11 | &nbsp;&nbsp; 102345750 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Growth Advantage Fund** |  |  |  |  |  |  |
| Felise Agranoff | 15 | &nbsp;&nbsp;&nbsp; 31992783 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 16121856 | &nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp; 6270312 |
| Larry Lee | 16 | &nbsp;&nbsp; 119615942 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 28122320 | &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 18727633 |
| **Hedged Equity Fund** |  |  |  |  |  |  |
| Hamilton Reiner | 13 | &nbsp;&nbsp;&nbsp; 89052578 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Raffaele Zingone | 16 | &nbsp;&nbsp;&nbsp; 77667605 | 18 | &nbsp;&nbsp; 32798208 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 23410955 |
| Matthew Bensen | 11 | &nbsp;&nbsp;&nbsp; 87685605 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Judy Jansen | 11 | &nbsp;&nbsp;&nbsp; 87685605 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Hedged Equity 2 Fund** |  |  |  |  |  |  |
| Hamilton Reiner | 13 | &nbsp;&nbsp; 104919967 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Raffaele Zingone | 16 | &nbsp;&nbsp;&nbsp; 93534994 | 18 | &nbsp;&nbsp; 32798208 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 23410955 |
| Matthew Bensen | 11 | &nbsp;&nbsp; 103552993 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Judy Jansen | 11 | &nbsp;&nbsp; 103552993 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Hedged Equity 3 Fund** |  |  |  |  |  |  |
| Hamilton Reiner | 13 | &nbsp;&nbsp; 106877609 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Raffaele Zingone | 16 | &nbsp;&nbsp;&nbsp; 95492636 | 18 | &nbsp;&nbsp; 32798208 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 23410955 |
| Matthew Bensen | 11 | &nbsp;&nbsp; 105510635 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Judy Jansen | 11 | &nbsp;&nbsp; 105510635 | 10 | &nbsp;&nbsp;&nbsp; 4284548 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |

---

Part I - 31

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** |
|  | **Registered Investment** <br> **Companies** | **Registered Investment** <br> **Companies** | **Other Pooled Investment** <br> **Vehicles** | **Other Pooled Investment** <br> **Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>|
| **Large Cap Growth Fund** |  |  |  |  |  |  |
| Giri Devulapally | 13 | $14703450 | &nbsp;&nbsp; 7 | $26415290 | &nbsp;&nbsp; 315 | $16752532 |
| Holly Morris | &nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 4981434 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 26133572 | &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 14519411 |
| Larry Lee | 16 | &nbsp;&nbsp;&nbsp; 27667040 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 28122320 | &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 18727633 |
| Joseph Wilson | 11 | &nbsp;&nbsp;&nbsp;&nbsp; 6959920 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 34765426 | &nbsp;&nbsp; 272 | &nbsp;&nbsp; 15393105 |
| Robert Maloney | &nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 4981434 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 26133572 | &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 14519411 |
| **Large Cap Value Fund** |  |  |  |  |  |  |
| Scott Blasdell | 16 | &nbsp;&nbsp;&nbsp; 16042237 | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 4443689 | &nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp; 1035217 |
| John Piccard | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 4212855 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53784 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287113 |
| **Mid Cap Equity Fund** |  |  |  |  |  |  |
| Felise Agranoff | 15 | &nbsp;&nbsp;&nbsp; 48618620 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 16121856 | &nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp; 6270312 |
| Lawrence Playford | 14 | &nbsp;&nbsp;&nbsp; 16210990 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219968 | &nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415750 |
| Michael Stein | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 21212447 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 744116 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648858 |
| Ryan Jones | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; 13554110 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148205 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9915 |
| Jeremy Miller | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; 13554110 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148205 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9915 |
| **Mid Cap Growth Fund** |  |  |  |  |  |  |
| Felise Agranoff | 15 | &nbsp;&nbsp;&nbsp; 41564277 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 16121856 | &nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp; 6270312 |
| Michael Stein | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 14158104 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 744116 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648858 |
| **Mid Cap Value Fund** |  |  |  |  |  |  |
| Lawrence Playford | 14 | &nbsp;&nbsp;&nbsp;&nbsp; 9174579 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219968 | &nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415750 |
| Ryan Jones | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 6517700 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148205 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9915 |
| Jeremy Miller | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 6517700 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148205 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9915 |
| **Small Cap Blend Fund** |  |  |  |  |  |  |
| Eytan Shapiro\* | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 3837117 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 3367074 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 399391 |
| Lawrence Playford | 14 | &nbsp;&nbsp;&nbsp; 20283467 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219968 | &nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415750 |
| Michael Stein | &nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp; 26766677 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 744116 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648858 |
| **Small Cap Equity Fund** |  |  |  |  |  |  |
| Don San Jose | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 863748 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 687593 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116983 |
| Daniel J. Percella | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 1340264 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339065 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 732461 |
| **Small Cap Growth Fund** |  |  |  |  |  |  |
| Eytan Shapiro\* | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 2085312 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 3367074 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 399391 |
| Philip D. Hart | 11 | &nbsp;&nbsp;&nbsp;&nbsp; 6675085 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983091 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Michael Stein | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 23533120 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 744116 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648858 |
| **Small Cap Value Fund** |  |  |  |  |  |  |
| Phillip Hart | 11 | &nbsp;&nbsp;&nbsp;&nbsp; 8725956 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983091 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Wonseok Choi | 10 | &nbsp;&nbsp;&nbsp;&nbsp; 8825272 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166167 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Akash Gupta | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 4155804 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285279 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Robert Ippolito | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 4155804 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285279 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| **SMID Cap Equity Fund** |  |  |  |  |  |  |
| Don San Jose | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 4371342 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 687593 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116983 |
| Daniel J. Percella | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 4847859 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339065 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 732461 |
| **U.S. Equity Fund** |  |  |  |  |  |  |
| Scott Davis | 25 | &nbsp;&nbsp;&nbsp;&nbsp; 8703384 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 25766390 | &nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp; 23615087 |
| Shilpee Raina | 25 | &nbsp;&nbsp;&nbsp;&nbsp; 8703384 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 25766390 | &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; 23611285 |
| **U.S. GARP Equity Fund** |  |  |  |  |  |  |
| Wonseok Choi | 10 | &nbsp;&nbsp;&nbsp;&nbsp; 8135787 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166167 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Andrew Stern | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 28731224 | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 1869727 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Lei (Grace) Liu | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 2797297 | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Ellen Sun | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 2797297 | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **U.S. Large Cap Core Plus Fund** |  |  |  |  |  |  |
| Susan Bao | &nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13119709 | 1377 | &nbsp;&nbsp;&nbsp; 2137249 |
| Steven Lee\*\* | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374644 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 13119709 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622107 |

---

Part I - 32

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** |
|  | **Registered Investment** <br> **Companies** | **Registered Investment** <br> **Companies** | **Other Pooled Investment** <br> **Vehicles** | **Other Pooled Investment** <br> **Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>|
| Timothy Woodhouse | &nbsp;&nbsp; 0 | $0 | &nbsp;&nbsp; 7 | $21782266 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | $5567295 |
| Andrew Stern | &nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp; 30603394 | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 1869727 | &nbsp;&nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **U.S. Research Enhanced Equity** <br> **Fund**<br>|  |  |  |  |  |  |
| Raffaele Zingone | 16 | &nbsp;&nbsp;&nbsp; 87685003 | 18 | &nbsp;&nbsp; 32798208 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 23410955 |
| Tim Snyder | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 5872600 | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; 4246246 | &nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp; 21778404 |
| **U.S. Small Company Fund** |  |  |  |  |  |  |
| Phillip Hart | 11 | &nbsp;&nbsp;&nbsp;&nbsp; 8987086 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983091 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Wonseok Choi | 10 | &nbsp;&nbsp;&nbsp;&nbsp; 9086402 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166167 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Akash Gupta | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 4416934 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285279 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| Robert Ippolito | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 4416934 | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285279 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 795133 |
| **U.S. Sustainable Leaders Fund** |  |  |  |  |  |  |
| Danielle Hines | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; 12071701 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 3006711 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; 8017740 |
| David Small | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; 12071701 | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 3006711 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; 8017740 |
| **U.S. Value Fund** |  |  |  |  |  |  |
| Andrew Brandon | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 50481404 | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 8420013 | &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp; 3817171 |
| David Silberman | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 50481404 | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 8420013 | &nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp; 6794027 |
| **Value Advantage Fund** |  |  |  |  |  |  |
| Scott Blasdell | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 12147245 | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 4443689 | &nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp; 1035217 |
| Graham Spence | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 2585630 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 13141600 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 554352 |

---

\*Mr. Shapiro has announced his intention to step back from portfolio management duties from JPMIM during the third quarter of 2026. Until that date, Mr. Shapiro will continue to serve on the portfolio management team.

\*\* Mr. Lee has announced his retirement from JPMIM during the third quarter of 2026. Until his retirement, Mr. Lee will continue to serve on the portfolio management team.

The following table shows information regarding the other accounts managed by each portfolio manager that have advisory fees wholly or partly based on performance as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** |
|  | **Registered Investment** <br> **Companies** | **Registered Investment** <br> **Companies** | **Other Pooled Investment** <br> **Vehicles** | **Other Pooled Investment** <br> **Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>|
| **Diversified Fund** |  |  |  |  |  |  |
| Gary Herbert | 0 | $0 | 0 | $0 | 1 | $3152439 |
| Morgan Moriarty | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 2 | &nbsp;&nbsp; 3448927 |
| Charles Fishman | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp; 3152439 |
| **Equity Income Fund** |  |  |  |  |  |  |
| David Silberman | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Andrew Brandon | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Equity Index Fund** |  |  |  |  |  |  |
| Michael Loeffler | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Nicholas D'Eramo | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Todd McEwen | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Equity Premium Income Fund** |  |  |  |  |  |  |
| Hamilton Reiner | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Raffaele Zingone | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 6 | &nbsp;&nbsp; 2824624 |
| Matthew Bensen | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Judy Jansen | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Growth Advantage Fund** |  |  |  |  |  |  |
| Felise Agranoff | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 115071 |
| Larry Lee | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 115071 |
| **Hedged Equity Fund** |  |  |  |  |  |  |

---

Part I - 33

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** |
|  | **Registered Investment** <br> **Companies** | **Registered Investment** <br> **Companies** | **Other Pooled** <br> **Investment** <br> **Vehicles** | **Other Pooled** <br> **Investment** <br> **Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>|
| Hamilton Reiner | 0 | $0 | 0 | $0 | 0 | $0 |
| Raffaele Zingone | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 6 | &nbsp;&nbsp; 2824624 |
| Matthew Bensen | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Judy Jansen | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Hedged Equity 2 Fund** |  |  |  |  |  |  |
| Hamilton Reiner | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Raffaele Zingone | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 6 | &nbsp;&nbsp; 2824624 |
| Matthew Bensen | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Judy Jansen | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Hedged Equity 3 Fund** |  |  |  |  |  |  |
| Hamilton Reiner | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Raffaele Zingone | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 6 | &nbsp;&nbsp; 2824624 |
| **Matthew Bensen** | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Judy Jansen** | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Large Cap Growth Fund** |  |  |  |  |  |  |
| Giri Devulapally | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Holly Morris | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Larry Lee | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 115071 |
| Joseph Wilson | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Robert Maloney | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Large Cap Value Fund** |  |  |  |  |  |  |
| Scott Blasdell | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 105582 |
| John Piccard | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Mid Cap Equity Fund** |  |  |  |  |  |  |
| Felise Agranoff | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 115071 |
| Lawrence Playford | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 105582 |
| Michael Stein | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Ryan Jones | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Jeremy Miller | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Mid Cap Growth Fund** |  |  |  |  |  |  |
| Felise Agranoff | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 115071 |
| Michael Stein | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Mid Cap Value Fund** |  |  |  |  |  |  |
| Lawrence Playford | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 105582 |
| Ryan Jones | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Jeremy Miller | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Small Cap Blend Fund** |  |  |  |  |  |  |
| Eytan Shapiro\*\* | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Lawrence Playford | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 105582 |
| Michael Stein | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Small Cap Equity Fund** |  |  |  |  |  |  |
| Don San Jose | 0 | &nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp; 919052 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Daniel J. Percella | 0 | &nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp; 919052 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Small Cap Growth Fund** |  |  |  |  |  |  |
| Eytan Shapiro\*\* | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Philip D. Hart | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Michael Stein | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Small Cap Value Fund** |  |  |  |  |  |  |
| Phillip Hart | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Wonseok Choi | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Akash Gupta | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Robert Ippolito | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |

---

Part I - 34

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** |
|  | **Registered Investment** <br> **Companies** | **Registered Investment** <br> **Companies** | **Other Pooled** <br> **Investment** <br> **Vehicles** | **Other Pooled** <br> **Investment** <br> **Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>| **Number** <br> **of** <br> **Accounts**<br>| **Total Assets** <br> **($thousands)**<br>|
| **SMID Cap Equity Fund** |  |  |  |  |  |  |
| Don San Jose | 0 | $0 | 1 | $919052 | 0 | $0 |
| Daniel J. Percella | 0 | &nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp; 919052 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **U.S. Equity Fund** |  |  |  |  |  |  |
| Scott Davis | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 4 | &nbsp;&nbsp;&nbsp;&nbsp; 669651 |
| Shilpee Raina | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 4 | &nbsp;&nbsp;&nbsp;&nbsp; 669651 |
| **U.S. GARP Equity Fund** |  |  |  |  |  |  |
| Wonseok Choi | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Andrew Stern | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Lei (Grace) Liu | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Ellen Sun | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **U.S. Large Cap Core Plus Fund** |  |  |  |  |  |  |
| Susan Bao | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Steven Lee\*\*\* | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp; 1684841 |
| Andrew Stern | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Timothy Woodhouse | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **U.S. Research Enhanced Equity** <br> **Fund**<br>|  |  |  |  |  |  |
| Raffaele Zingone | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 6 | &nbsp;&nbsp; 2824624 |
| Tim Snyder | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 5 | &nbsp;&nbsp; 2303212 |
| **U.S. Small Company Fund** |  |  |  |  |  |  |
| Phillip Hart | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Wonseok Choi | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Akash Gupta | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Robert Ippolito | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **U.S. Sustainable Leaders Fund** |  |  |  |  |  |  |
| Danielle Hines | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 6 | &nbsp;&nbsp; 5707303 |
| David Small | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 6 | &nbsp;&nbsp; 5707303 |
| **U.S. Value Fund** |  |  |  |  |  |  |
| Andrew Brandon | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| David Silberman | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Value Advantage Fund** |  |  |  |  |  |  |
| Scott Blasdell | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 105582 |
| Graham Spence | 0 | &nbsp;&nbsp; 0 | 0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; 105582 |

---

\*The total value and number of accounts managed by a portfolio manager may include sub-accounts of asset allocation, multi-managed and other accounts.

\*\*Mr. Shapiro has announced his intention to step back from portfolio management duties from JPMIM during the third quarter of 2026. Until that date, Mr. Shapiro will continue to serve on the portfolio management team.

\*\*\* Mr. Lee has announced his retirement from JPMIM during the third quarter of 2026. Until his retirement, Mr. Lee will continue to serve on the portfolio management team.

**Portfolio Managers' Ownership of Securities**

The following table indicates the dollar range of securities beneficially owned by each portfolio manager, as of June 30, 2024. Aggregate Dollar Range, if applicable, includes each portfolio manager's deferred compensation balance attributable to each Fund through participation in the Adviser's deferred compensation plan. If applicable, this reflects an obligation of the Adviser to pay deferred compensation to the portfolio manager at a future date in an amount based on the performance of that Fund and accordingly, is the economic equivalent of an investment in Fund shares.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** |
|  | **None** | **$1-$10000** | **$10001-**<br> **$50000**<br>| **$50001-**<br> **$100000**<br>| **$100001-**<br> **$500000**<br>| **$500001-**<br> **$1000000**<br>| **Over** <br> **$1,000,000**<br>|
| **Diversified Fund** |  |  |  |  |  |  |  |

---

Part I - 35

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** |
|  | **None** | **$1-$10000** | **$10001-**<br> **$50000**<br>| **$50001-**<br> **$100000**<br>| **$100001-**<br> **$500000**<br>| **$500001-**<br> **$1000000**<br>| **Over** <br> **$1,000,000**<br>|
| Gary Herbert |  |  |  |  |  |  | X |
| Morgan Moriarty |  |  |  |  | X |  |  |
| Charles Fishman |  |  |  | X |  |  |  |
| **Equity Income Fund** |  |  |  |  |  |  |  |
| David Silberman |  |  |  |  |  |  | X |
| Andrew Brandon |  |  |  |  |  |  | X |
| **Equity Index Fund** |  |  |  |  |  |  |  |
| Michael Loeffler |  |  | X |  |  |  |  |
| Nicholas D'Eramo |  |  | X |  |  |  |  |
| Todd McEwen\*\* | X |  |  |  |  |  |  |
| **Equity Premium Income Fund** |  |  |  |  |  |  |  |
| Hamilton Reiner |  |  |  |  |  |  | X |
| Raffaele Zingone |  |  |  |  |  | X |  |
| Matthew Bensen | X |  |  |  |  |  |  |
| Judy Jansen | X |  |  |  |  |  |  |
| **Growth Advantage Fund** |  |  |  |  |  |  |  |
| Felise Agranoff |  |  |  |  |  |  | X |
| Larry H. Lee |  |  |  |  | X |  |  |
| **Hedged Equity Fund** |  |  |  |  |  |  |  |
| Hamilton Reiner |  |  |  |  |  |  | X |
| Raffaele Zingone |  |  |  |  |  |  | X |
| Matthew Bensen |  |  |  | X |  |  |  |
| Judy Jansen |  |  | X |  |  |  |  |
| **Hedged Equity 2 Fund** |  |  |  |  |  |  |  |
| Hamilton Reiner |  |  |  |  |  |  | X |
| Raffaele Zingone |  |  |  |  | X |  |  |
| **Matthew Bensen** |  |  | **X** |  |  |  |  |
| **Judy Jansen** | **X** |  |  |  |  |  |  |
| **Hedged Equity 3 Fund** |  |  |  |  |  |  |  |
| Hamilton Reiner |  |  |  |  |  |  | X |
| Raffaele Zingone |  |  |  |  | X |  |  |
| Matthew Bensen |  |  | X |  |  |  |  |
| Judy Jansen | X |  |  |  |  |  |  |
| **Large Cap Growth Fund** |  |  |  |  |  |  |  |
| Giri Devulapally |  |  |  |  |  |  | X |
| Holly Morris |  |  |  |  |  |  | X |
| Larry Lee |  |  |  |  |  |  | X |
| Joseph Wilson |  |  |  |  |  |  | X |
| Robert Maloney |  |  |  |  |  | X |  |
| **Large Cap Value Fund** |  |  |  |  |  |  |  |
| Scott Blasdell |  |  |  |  |  |  | X |
| John Piccard\*\*\*\* |  |  |  |  | X |  |  |
| **Mid Cap Equity Fund** |  |  |  |  |  |  |  |
| Felise Agranoff |  |  |  |  | X |  |  |
| Michael Stein\*\*\* | X |  |  |  |  |  |  |
| Lawrence Playford | X |  |  |  |  |  |  |
| Ryan Jones | X |  |  |  |  |  |  |
| Jeremy Miller | X |  |  |  |  |  |  |
| **Mid Cap Growth Fund** |  |  |  |  |  |  |  |
| Felise Agranoff |  |  |  |  |  |  | X |
| Michael Stein\*\*\* |  |  |  |  | X |  |  |
| **Mid Cap Value Fund** |  |  |  |  |  |  |  |
| Lawrence Playford |  |  |  |  |  |  | X |
| Ryan Jones |  |  |  | X |  |  |  |
| Jeremy Miller |  |  |  | X |  |  |  |

---

Part I - 36

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** |
|  | **None** | **$1-$10000** | **$10001-**<br> **$50000**<br>| **$50001-**<br> **$100000**<br>| **$100001-**<br> **$500000**<br>| **$500001-**<br> **$1000000**<br>| **Over** <br> **$1,000,000**<br>|
| **Small Cap Blend Fund** |  |  |  |  |  |  |  |
| Eytan Shapiro\* |  |  |  |  | X |  |  |
| Lawrence Playford |  |  |  |  |  |  | X |
| Michael Stein\*\*\*\* | X |  |  |  |  |  |  |
| **Small Cap Equity Fund** |  |  |  |  |  |  |  |
| Don San Jose |  |  |  |  |  |  | X |
| Daniel J. Percella |  |  |  |  |  | X |  |
| **Small Cap Growth Fund** |  |  |  |  |  |  |  |
| Eytan Shapiro\* |  |  |  |  |  |  | X |
| Philip D. Hart |  |  | X |  |  |  |  |
| Michael Stein\*\*\*\* |  |  |  |  | X |  |  |
| **Small Cap Value Fund** |  |  |  |  |  |  |  |
| Phillip Hart |  |  |  |  | X |  |  |
| Wonseok Choi |  |  |  | X |  |  |  |
| Akash Gupta |  |  | X |  |  |  |  |
| Robert Ippolito |  |  | X |  |  |  |  |
| **SMID Cap Equity Fund** |  |  |  |  |  |  |  |
| Don San Jose |  |  |  |  | X |  |  |
| Daniel J. Percella |  |  |  |  |  | X |  |
| **U.S. Equity Fund** |  |  |  |  |  |  |  |
| Scott Davis |  |  |  |  |  |  | X |
| Shilpee Raina |  |  |  |  |  |  | X |
| **U.S. GARP Equity Fund** |  |  |  |  |  |  |  |
| Andrew Stern |  |  |  |  | X |  |  |
| Wonseok Choi |  |  |  |  | X |  |  |
| Lei (Grace) Liu\*\*\*\* |  |  |  | X |  |  |  |
| Ellen Sun |  |  | X |  |  |  |  |
| **U.S. Large Cap Core Plus Fund** |  |  |  |  |  |  |  |
| Susan Bao |  |  |  |  |  |  | X |
| Steven Lee\*\*\*\*\* |  |  |  |  |  |  | X |
| Timothy Woodhouse\*\*\*\* | X |  |  |  |  |  |  |
| Andrew Stern\*\*\*\* |  |  | X |  |  |  |  |
| **U.S. Research Enhanced Equity Fund** |  |  |  |  |  |  |  |
| Raffaele Zingone |  |  |  |  |  |  | X |
| Tim Snyder |  |  |  |  | X |  |  |
| **U.S. Small Company Fund** |  |  |  |  |  |  |  |
| Phillip Hart |  |  |  |  |  | X |  |
| Wonseok Choi |  |  |  | X |  |  |  |
| Akash Gupta\*\*\*\* |  |  | X |  |  |  |  |
| Robert Ippolito |  |  | X |  |  |  |  |
| **U.S. Sustainable Leaders Fund** |  |  |  |  |  |  |  |
| Andrew Stern |  |  |  |  | X |  |  |
| Wonseok Choi |  |  |  | X |  |  |  |
| Lei (Grace) Liu |  |  | X |  |  |  |  |
| **U.S. Value Fund** |  |  |  |  |  |  |  |
| Andrew Brandon |  |  |  |  |  |  | X |
| David Silberman |  |  |  |  |  |  | X |
| **Value Advantage Fund** |  |  |  |  |  |  |  |
| Scott Blasdell\*\*\* |  |  |  |  |  | X |  |
| Graham Spence |  |  |  |  | X |  |  |

---

\*Mr. Shapiro has announced his intention to step back from portfolio management duties from JPMIM during the third quarter of 2026. Until that date, Mr. Shapiro will continue to serve on the portfolio management team

\*\*As of October 31, 2024

\*\*\*As of March 31, 2025

\*\*\*\* As of June 30, 2025

Part I - 37

------

\*\*\*\*\*Mr. Lee has announced his retirement from JPMIM during the third quarter of 2026. Until his retirement, Mr. Lee will continue to serve on the portfolio management team

**Portfolio Managers' Compensation**

In evaluating each portfolio manager's performance with respect to the Funds he or she manages, JPMorgan uses the following indices as benchmarks to evaluate the performance of the portfolio manager with respect to the Fund:

---

| | |
|:---|:---|
| **Name of Fund** | **Benchmark** |
| Diversified Fund | Diversified Composite Benchmark<sup>1</sup> <br>|
| Equity Income Fund | Russell 1000 Value Index |
| Equity Index Fund | S&P 500 Index |
| Equity Premium Income Fund | S&P 500 Total Return Index |
| Growth Advantage Fund | Russell 3000 Growth Index |
| Hedged Equity Fund | S&P 500 Total Return Index |
| Hedged Equity 2 Fund | S&P 500 Total Return Index |
| Hedged Equity 3 Fund | S&P 500 Total Return Index |
| Large Cap Growth Fund | Russell 1000 Growth Index |
| Large Cap Value Fund | Russell 1000 Value Index |
| Mid Cap Equity Fund | Russell MidCap Index |
| Mid Cap Growth Fund | Russell Mid Cap Growth Index |
| Mid Cap Value Fund | Russell Midcap Value Index |
| Small Cap Blend Fund | Russell 2000 Index |
| Small Cap Equity Fund | Russell 2000 Index |
| Small Cap Growth Fund | Russell 2000 Growth Index |
| Small Cap Value Fund | Russell 2000 Value Index |
| SMID Cap Equity Fund | Russell 2500<sup>®</sup> Index |
| U.S. Equity Fund | S&P 500 Index |
| U.S. GARP Equity Fund | Russell 1000 Growth Index |
| U.S. Large Cap Core Plus Fund | S&P 500 Index |
| U.S. Research Enhanced Equity Fund | S&P 500 Total Return Index |
| U.S. Small Company Fund | Russell 2000 Index |
| U.S. Sustainable Leaders Fund | S&P 500 Total Return Index |
| U.S. Value Fund | Russell 1000 Value Index |
| Value Advantage Fund | Russell 3000 Value Index |

---

The Diversified Composite Benchmark consists of fixed income, U.S. and international equity securities indices.

Please see "Portfolio Manager Compensation" section in Part II of this SAI for a description of the structure and method of determining the compensation of the portfolio managers identified above.

**ADMINISTRATOR**

**Administrator Fees**

The table below sets forth the administration services fees paid by the Funds to JPMIM (the amounts voluntarily waived are in parentheses) for the fiscal years indicated (amounts in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| Diversified Fund | &nbsp;&nbsp; $350 | &nbsp;&nbsp; $(343) | &nbsp;&nbsp; $197 | &nbsp;&nbsp; $(265) | &nbsp;&nbsp; $138 | &nbsp;&nbsp; $(204) |
| Equity Income Fund | &nbsp;&nbsp; 16182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 16033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 15806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Equity Index Fund | &nbsp;&nbsp;&nbsp; 2430 | &nbsp;&nbsp; (3367) | &nbsp;&nbsp;&nbsp; 2309 | &nbsp;&nbsp;&nbsp; (3202) | &nbsp;&nbsp;&nbsp; 3172 | &nbsp;&nbsp;&nbsp; (3486) |
| Equity Premium Income Fund | &nbsp;&nbsp;&nbsp; 1432 | &nbsp;&nbsp;&nbsp;&nbsp; (197) | &nbsp;&nbsp;&nbsp; 3504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (61) | &nbsp;&nbsp;&nbsp; 4450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33) |
| Growth Advantage Fund | &nbsp;&nbsp;&nbsp; 6710 | &nbsp;&nbsp; (3283) | &nbsp;&nbsp;&nbsp; 4558 | &nbsp;&nbsp;&nbsp; (4607) | &nbsp;&nbsp;&nbsp; 5686 | &nbsp;&nbsp;&nbsp; (5504) |
| Hedged Equity Fund | &nbsp;&nbsp; 11819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 10158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 11137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Hedged Equity 2 Fund | &nbsp;&nbsp;&nbsp; 2484 | &nbsp;&nbsp;&nbsp;&nbsp; (288) | &nbsp;&nbsp;&nbsp; 3648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (105) | &nbsp;&nbsp;&nbsp; 3487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) |
| Hedged Equity 3 Fund | &nbsp;&nbsp;&nbsp; 1268 | &nbsp;&nbsp;&nbsp;&nbsp; (222) | &nbsp;&nbsp;&nbsp; 1854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (113) | &nbsp;&nbsp;&nbsp; 1977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21) |
| Large Cap Growth Fund | &nbsp;&nbsp;&nbsp; 5293 | &nbsp;&nbsp; (9579) | &nbsp;&nbsp;&nbsp; 5314 | &nbsp;&nbsp; (10735) | &nbsp;&nbsp;&nbsp; 5009 | &nbsp;&nbsp; (13780) |
| Large Cap Value Fund | &nbsp;&nbsp;&nbsp; 1761 | &nbsp;&nbsp;&nbsp;&nbsp; (777) | &nbsp;&nbsp;&nbsp; 1790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (779) | &nbsp;&nbsp;&nbsp; 1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (826) |
| Mid Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846 | &nbsp;&nbsp; (1366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 927 | &nbsp;&nbsp;&nbsp; (1436) | &nbsp;&nbsp;&nbsp; 1198 | &nbsp;&nbsp;&nbsp; (1767) |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp; 5480 | &nbsp;&nbsp; (1066) | &nbsp;&nbsp;&nbsp; 4483 | &nbsp;&nbsp;&nbsp; (1485) | &nbsp;&nbsp;&nbsp; 5808 | &nbsp;&nbsp;&nbsp; (1764) |
| Mid Cap Value Fund | &nbsp;&nbsp;&nbsp; 7508 | &nbsp;&nbsp; (3250) | &nbsp;&nbsp;&nbsp; 4658 | &nbsp;&nbsp;&nbsp; (4782) | &nbsp;&nbsp;&nbsp; 4576 | &nbsp;&nbsp;&nbsp; (4450) |

---

Part I - 38

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| Small Cap Blend Fund | &nbsp;&nbsp; $771 | &nbsp;&nbsp; $(126) | &nbsp;&nbsp; $757 | &nbsp;&nbsp; $(139) | &nbsp;&nbsp; $883 | &nbsp;&nbsp; $(145) |
| Small Cap Equity Fund | &nbsp;&nbsp;&nbsp; 5621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Small Cap Growth Fund | &nbsp;&nbsp;&nbsp; 3984 | &nbsp;&nbsp;&nbsp;&nbsp; (206) | &nbsp;&nbsp;&nbsp; 2776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (180) | &nbsp;&nbsp;&nbsp; 2696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (86) |
| Small Cap Value Fund | &nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (97) |
| SMID Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (126) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (157) |
| U.S. Equity Fund | &nbsp;&nbsp; 10166 | &nbsp;&nbsp; (2562) | &nbsp;&nbsp;&nbsp; 9914 | &nbsp;&nbsp;&nbsp; (2611) | &nbsp;&nbsp; 11253 | &nbsp;&nbsp;&nbsp; (2572) |
| U.S. GARP Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634 | &nbsp;&nbsp;&nbsp;&nbsp; (294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (250) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (289) |
| U.S. Large Cap Core Plus Fund | &nbsp;&nbsp;&nbsp; 1439 | &nbsp;&nbsp;&nbsp;&nbsp; (382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (475) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (686) |
| U.S. Research Enhanced Equity <br> Fund<br>| &nbsp;&nbsp;&nbsp; 2392 | &nbsp;&nbsp; (2092) | &nbsp;&nbsp;&nbsp; 2875 | &nbsp;&nbsp;&nbsp; (2320) | &nbsp;&nbsp;&nbsp; 3255 | &nbsp;&nbsp;&nbsp; (2809) |
| U.S. Small Company Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Sustainable Leaders Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; (118) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (110) |
| U.S. Value Fund | &nbsp;&nbsp;&nbsp; 1059 | &nbsp;&nbsp;&nbsp;&nbsp; (591) | &nbsp;&nbsp;&nbsp; 2007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (834) | &nbsp;&nbsp;&nbsp; 2769 | &nbsp;&nbsp;&nbsp; (1163) |
| Value Advantage Fund | &nbsp;&nbsp;&nbsp; 5486 | &nbsp;&nbsp; (2350) | &nbsp;&nbsp;&nbsp; 3663 | &nbsp;&nbsp;&nbsp; (3301) | &nbsp;&nbsp;&nbsp; 3448 | &nbsp;&nbsp;&nbsp; (3116) |

---

For a more complete discussion, see the "Administrator" section in Part II of this SAI.

**FUND ACCOUNTING AGENT**

**Fund Accounting Fees**

The table below sets forth the fund accounting fees paid by the Funds to JPMorgan Chase Bank for the fiscal years indicated (amounts in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
| **Fund** | **June 30, 2022** | **June 30, 2023** | **June 30, 2024** |
| Diversified Fund | &nbsp;&nbsp; $23 | &nbsp;&nbsp; $20 | &nbsp;&nbsp; $20 |
| Equity Income Fund | &nbsp;&nbsp; 1224 | &nbsp;&nbsp; 1236 | &nbsp;&nbsp; 1148 |
| Equity Index Fund | &nbsp;&nbsp;&nbsp;&nbsp; 194 | &nbsp;&nbsp;&nbsp;&nbsp; 189 | &nbsp;&nbsp;&nbsp;&nbsp; 224 |
| Equity Premium Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| Growth Advantage Fund | &nbsp;&nbsp;&nbsp;&nbsp; 374 | &nbsp;&nbsp;&nbsp;&nbsp; 344 | &nbsp;&nbsp;&nbsp;&nbsp; 438 |
| Hedged Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp;&nbsp;&nbsp; 393 | &nbsp;&nbsp;&nbsp;&nbsp; 435 |
| Hedged Equity 2 Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| Hedged Equity 3 Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 |
| Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp; 929 | &nbsp;&nbsp; 1085 | &nbsp;&nbsp; 1898 |
| Large Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 |
| Mid Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp;&nbsp;&nbsp; 256 |
| Mid Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp; 409 | &nbsp;&nbsp;&nbsp;&nbsp; 359 | &nbsp;&nbsp;&nbsp;&nbsp; 327 |
| Small Cap Blend Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| Small Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 184 | &nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp; 127 |
| Small Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 |
| Small Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 |
| SMID Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| U.S. Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp;&nbsp;&nbsp; 521 | &nbsp;&nbsp;&nbsp;&nbsp; 645 |
| U.S. GARP Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| U.S. Large Cap Core Plus Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
| U.S. Research Enhanced Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp; 179 | &nbsp;&nbsp;&nbsp;&nbsp; 204 |
| U.S. Small Company Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| U.S. Sustainable Leaders Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| U.S. Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp; 132 |
| Value Advantage Fund | &nbsp;&nbsp;&nbsp;&nbsp; 266 | &nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp; 220 |

---

For more information, see the "Custody and Fund Accounting Fees and Expenses" section in Part II of this SAI.

Part I - 39

------

**SECURITIES LENDING ACTIVITIES**

To the extent that any Funds engaged in securities lending during the fiscal year ended June 30, 2025, information concerning the amounts of income and fees/compensation related to securities lending activities are described below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Equity Income**<br> **Fund**<br>| **Equity Index**<br> **Fund**<br>| **Equity Premium**<br> **Income Fund**<br>| **Growth Advantage**<br> **Fund**<br>| **Large Cap Growth**<br> **Fund**<br>|
| &nbsp;&nbsp;&nbsp; Gross Income from Securities <br> Lending Activities<sup>1</sup> <br>| $1583545 | $5756114 | $1389334 | $2825830 | $5278716 |
| *Fees and/or Compensation for* <br> *Securities Lending Activities*<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue Split<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 125861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash Collateral <br> Management Fees<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indemnification Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rebates to Borrowers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1071 | &nbsp;&nbsp; 5369575 | &nbsp;&nbsp; 1275046 | &nbsp;&nbsp; 2683128 | &nbsp;&nbsp; 5029695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Aggregate Fees/Compensation <br> for Securities Lending <br> Activities<br>| &nbsp;&nbsp;&nbsp;&nbsp; 134547 | &nbsp;&nbsp; 5471186 | &nbsp;&nbsp; 1306385 | &nbsp;&nbsp; 2731046 | &nbsp;&nbsp; 5127861 |
| &nbsp;&nbsp;&nbsp; Net Income from the Securities <br> Lending Activities<br>| &nbsp;&nbsp; 1448998 | &nbsp;&nbsp;&nbsp;&nbsp; 284929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94784 | &nbsp;&nbsp;&nbsp;&nbsp; 150855 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Large Cap Value**<br> **Fund**<br>| **Mid Cap Equity**<br> **Fund**<br>| **Mid Cap Growth**<br> **Fund**<br>| **Mid Cap Value**<br> **Fund**<br>| **Small Cap Blend**<br> **Fund**<br>|
| &nbsp;&nbsp;&nbsp; Gross Income from Securities <br> Lending Activities<sup>1</sup> <br>| $1395737 | $2398870 | $12053865 | $6228506 | $4014963 |
| *Fees and/or Compensation for* <br> *Securities Lending Activities*<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue Split<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash Collateral <br> Management Fees<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indemnification Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rebates to Borrowers | &nbsp;&nbsp; 1074355 | &nbsp;&nbsp; 2271642 | &nbsp;&nbsp; 11428761 | &nbsp;&nbsp; 5943438 | &nbsp;&nbsp; 3598356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Aggregate Fees/Compensation <br> for Securities Lending <br> Activities<br>| &nbsp;&nbsp; 1116851 | &nbsp;&nbsp; 2314770 | &nbsp;&nbsp; 11622636 | &nbsp;&nbsp; 6041364 | &nbsp;&nbsp; 3677040 |
| &nbsp;&nbsp;&nbsp; Net Income from the Securities <br> Lending Activities<br>| &nbsp;&nbsp;&nbsp;&nbsp; 278886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431229 | &nbsp;&nbsp;&nbsp;&nbsp; 187142 | &nbsp;&nbsp;&nbsp;&nbsp; 337924 |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Small Cap Equity**<br> **Fund**<br>| **Small Cap Growth**<br> **Fund**<br>| **Small Cap Value**<br> **Fund**<br>| **SMID Cap**<br> **Equity Fund**<br>| **U.S. Equity**<br> **Fund**<br>|
| &nbsp;&nbsp;&nbsp; Gross Income from Securities <br> Lending Activities<sup>1</sup> <br>| $12621698 | $12561686 | $3702756 | $20422 | $215019 |
| *Fees and/or Compensation for* <br> *Securities Lending Activities*<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue Split<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash Collateral Management <br> Fees<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513 | &nbsp;&nbsp;&nbsp; 15499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indemnification Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rebates to Borrowers | &nbsp;&nbsp; 11964111 | &nbsp;&nbsp; 11442545 | &nbsp;&nbsp; 3283082 | &nbsp;&nbsp; 17787 | &nbsp;&nbsp; 190041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Aggregate Fees/Compensation for <br> Securities Lending Activities<br>| &nbsp;&nbsp; 12177045 | &nbsp;&nbsp; 11680560 | &nbsp;&nbsp; 3359133 | &nbsp;&nbsp; 18446 | &nbsp;&nbsp; 206219 |
| &nbsp;&nbsp;&nbsp; Net Income from the Securities <br> Lending Activities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 881127 | &nbsp;&nbsp;&nbsp;&nbsp; 343624 | &nbsp;&nbsp;&nbsp; 1976 | &nbsp;&nbsp;&nbsp;&nbsp; 8800 |

---

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

Part I - 40

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **U.S. GARP**<br> **Equity**<br> **Fund**<br>| **U.S. Small**<br> **Company**<br> **Fund**<br>| **U.S. Sustainable**<br> **Leaders Fund**<br>| **U.S.Value**<br> **Fund**<br>| **Value Advantage**<br> **Fund**<br>|
| &nbsp;&nbsp;&nbsp; Gross Income from Securities Lending <br> Activities<sup>1</sup> <br>| $246640 | $3200763 | $- | $340622 | $4130693 |
| *Fees and/or Compensation for Securities* <br> *Lending Activities*<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue Split<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33375 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash Collateral Management Fees<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39725 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indemnification Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rebates to Borrowers | &nbsp;&nbsp; 236865 | &nbsp;&nbsp; 2740868 | &nbsp;&nbsp; — | &nbsp;&nbsp; 326088 | &nbsp;&nbsp; 3498113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Aggregate Fees/Compensation for Securities <br> Lending Activities<br>| &nbsp;&nbsp; 240705 | &nbsp;&nbsp; 2813968 | &nbsp;&nbsp; — | &nbsp;&nbsp; 331576 | &nbsp;&nbsp; 3598767 |
| &nbsp;&nbsp;&nbsp; Net Income from the Securities Lending <br> Activities<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5935 | &nbsp;&nbsp;&nbsp;&nbsp; 386795 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9047 | &nbsp;&nbsp;&nbsp;&nbsp; 531925 |
| &nbsp;&nbsp;&nbsp; 1 Gross income includes income from the <br> reinvestment of cash collateral, premium <br> income (i.e. rebates paid by borrowers to <br> the Fund), management fees from a pooled <br> cash collateral reinvestment vehicle that are <br> deducted from the vehicle's assets before <br> income is distributed, and any other <br> income.<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 2 Revenue split represents the share of <br> revenue generated by securities lending <br> program and paid to Citibank, N.A.<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 3 Cash collateral is reinvested in certain <br> JPMorgan money market funds that are <br> advised by JPMIM ("money market <br> funds"). Cash collateral management fees <br> include the fees and expenses deducted <br> from the money market funds. The <br> contractual management fees are derived <br> using the Total Annual Fund Operating <br> Expenses after Fee Waivers and/or Expense <br> Reimbursements from the money market <br> funds' most recently available prospectus. <br> Actual fees incurred by the money market <br> funds may differ due to other expenses, fee <br> waivers and expense reimbursements.<br>|  |  |  |  |  |

---

For more information, see the "Securities Lending Agent" section in Part II of this SAI.

**DISTRIBUTOR**

**Compensation Paid to JPMDS**

The following table describes the compensation paid by the Funds to the principal underwriter, JPMDS, for the fiscal year ended June 30, 2025 (amounts have been rounded to the nearest whole dollar):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Total**<br> **Underwriting**<br> **Discounts**<br> **and Commissions**<br>| **Compensation on**<br> **Redemptions**<br> **and Repurchases**<br>| **Brokerage**<br> **Commissions**<br>| **Other**<br> **Compensation\***<br>|
| Diversified Fund | $3483 | $1103 | $— | $297657 |
| Equity Income Fund | &nbsp;&nbsp; 140128 | &nbsp;&nbsp;&nbsp; 23459 | &nbsp;&nbsp; 146 | &nbsp;&nbsp; 18438738 |
| Equity Index Fund | &nbsp;&nbsp;&nbsp; 66754 | &nbsp;&nbsp;&nbsp;&nbsp; 7472 | &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp; 2750873 |
| Equity Premium Income Fund | &nbsp;&nbsp; 727030 | &nbsp;&nbsp; 242419 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3159804 |
| Growth Advantage Fund | &nbsp;&nbsp; 533649 | &nbsp;&nbsp;&nbsp; 90067 | &nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp; 14156729 |
| Hedged Equity Fund | &nbsp;&nbsp; 146895 | &nbsp;&nbsp;&nbsp; 46610 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6684732 |
| Hedged Equity 2 Fund | &nbsp;&nbsp;&nbsp; 24076 | &nbsp;&nbsp;&nbsp; 43349 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2318221 |
| Hedged Equity 3 Fund | &nbsp;&nbsp;&nbsp; 14708 | &nbsp;&nbsp;&nbsp; 13044 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1148851 |
| Large Cap Growth Fund | &nbsp;&nbsp; 871991 | &nbsp;&nbsp; 157739 | &nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp; 21407645 |

---

Part I - 41

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Total**<br> **Underwriting**<br> **Discounts**<br> **and Commissions**<br>| **Compensation on**<br> **Redemptions**<br> **and Repurchases**<br>| **Brokerage**<br> **Commissions**<br>| **Other**<br> **Compensation\***<br>|
| Large Cap Value Fund | $29084 | $13437 | $— | $1452574 |
| Mid Cap Equity Fund | &nbsp;&nbsp;&nbsp; 91971 | &nbsp;&nbsp;&nbsp;&nbsp; 7868 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1866671 |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp; 99432 | &nbsp;&nbsp;&nbsp; 15214 | &nbsp;&nbsp; 623 | &nbsp;&nbsp;&nbsp; 4023056 |
| Mid Cap Value Fund | &nbsp;&nbsp;&nbsp; 32211 | &nbsp;&nbsp;&nbsp;&nbsp; 8521 | &nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp; 3708704 |
| Small Cap Blend Fund | &nbsp;&nbsp;&nbsp; 56949 | &nbsp;&nbsp;&nbsp;&nbsp; 8944 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1007260 |
| Small Cap Equity Fund | &nbsp;&nbsp;&nbsp; 28056 | &nbsp;&nbsp;&nbsp;&nbsp; 6603 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1401732 |
| Small Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp; 9253 | &nbsp;&nbsp;&nbsp;&nbsp; 1239 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1158320 |
| Small Cap Value Fund | &nbsp;&nbsp;&nbsp;&nbsp; 2654 | &nbsp;&nbsp;&nbsp;&nbsp; 1191 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523424 |
| SMID Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 2641 | &nbsp;&nbsp;&nbsp;&nbsp; 1781 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398011 |
| U.S. Equity Fund | &nbsp;&nbsp; 304471 | &nbsp;&nbsp;&nbsp; 95763 | &nbsp;&nbsp; 103 | &nbsp;&nbsp; 10499891 |
| U.S. GARP Equity Fund | &nbsp;&nbsp;&nbsp; 13908 | &nbsp;&nbsp;&nbsp;&nbsp; 1476 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 631169 |
| U.S. Large Cap Core Plus Fund | &nbsp;&nbsp;&nbsp; 38881 | &nbsp;&nbsp;&nbsp; 30164 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 998866 |
| U.S. Research Enhanced Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 439562 |
| U.S. Small Company Fund | &nbsp;&nbsp;&nbsp;&nbsp; 3670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 604854 |
| U.S. Sustainable Leaders Fund | &nbsp;&nbsp;&nbsp;&nbsp; 3530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156712 |
| U.S. Value Fund | &nbsp;&nbsp; 142214 | &nbsp;&nbsp;&nbsp; 57140 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3720779 |
| Value Advantage Fund | &nbsp;&nbsp;&nbsp; 92300 | &nbsp;&nbsp;&nbsp; 38731 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4656758 |

---

\*

Fees paid by a Fund pursuant to Rule 12b-1 are provided in the "Distribution Fees" section below.

The following table sets forth the aggregate amount of underwriting commissions retained by JPMDS from the Funds with respect to the fiscal years indicated (amounts have been rounded to the nearest whole dollar):

---

| | | | |
|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
| **Fund** | **June 30, 2022** | **June 30, 2023** | **June 30, 2024** |
| Diversified Fund | &nbsp;&nbsp; $4300 | &nbsp;&nbsp; $5760 | &nbsp;&nbsp; $3483 |
| Equity Income Fund | &nbsp;&nbsp; 348160 | &nbsp;&nbsp; 119383 | &nbsp;&nbsp; 140128 |
| Equity Index Fund | &nbsp;&nbsp;&nbsp; 40170 | &nbsp;&nbsp;&nbsp; 43395 | &nbsp;&nbsp;&nbsp; 66754 |
| Equity Premium Income Fund | &nbsp;&nbsp; 668074 | &nbsp;&nbsp; 476561 | &nbsp;&nbsp; 727030 |
| Growth Advantage Fund | &nbsp;&nbsp; 520723 | &nbsp;&nbsp; 324399 | &nbsp;&nbsp; 533649 |
| Hedged Equity Fund | &nbsp;&nbsp;&nbsp; 49273 | &nbsp;&nbsp;&nbsp; 51392 | &nbsp;&nbsp; 146895 |
| Hedged Equity 2 Fund | &nbsp;&nbsp; 191402 | &nbsp;&nbsp;&nbsp; 79879 | &nbsp;&nbsp;&nbsp; 24076 |
| Hedged Equity 3 Fund | &nbsp;&nbsp;&nbsp; 77112 | &nbsp;&nbsp;&nbsp; 23024 | &nbsp;&nbsp;&nbsp; 14708 |
| Large Cap Growth Fund | &nbsp;&nbsp; 539836 | &nbsp;&nbsp; 506012 | &nbsp;&nbsp; 871991 |
| Large Cap Value Fund | &nbsp;&nbsp;&nbsp; 56779 | &nbsp;&nbsp;&nbsp; 65745 | &nbsp;&nbsp;&nbsp; 29084 |
| Mid Cap Equity Fund | &nbsp;&nbsp;&nbsp; 95552 | &nbsp;&nbsp;&nbsp; 97066 | &nbsp;&nbsp;&nbsp; 91971 |
| Mid Cap Growth Fund | &nbsp;&nbsp; 104433 | &nbsp;&nbsp;&nbsp; 70277 | &nbsp;&nbsp;&nbsp; 99432 |
| Mid Cap Value Fund | &nbsp;&nbsp;&nbsp; 74432 | &nbsp;&nbsp;&nbsp; 48577 | &nbsp;&nbsp;&nbsp; 32211 |
| Small Cap Blend Fund | &nbsp;&nbsp;&nbsp; 68684 | &nbsp;&nbsp;&nbsp; 53949 | &nbsp;&nbsp;&nbsp; 56949 |
| Small Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 2372 | &nbsp;&nbsp;&nbsp; 16358 | &nbsp;&nbsp;&nbsp; 28056 |
| Small Cap Growth Fund | &nbsp;&nbsp;&nbsp; 25850 | &nbsp;&nbsp;&nbsp; 11212 | &nbsp;&nbsp;&nbsp;&nbsp; 9253 |
| Small Cap Value Fund | &nbsp;&nbsp;&nbsp; 11094 | &nbsp;&nbsp;&nbsp;&nbsp; 4592 | &nbsp;&nbsp;&nbsp;&nbsp; 2654 |
| SMID Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 3880 | &nbsp;&nbsp;&nbsp;&nbsp; 2652 | &nbsp;&nbsp;&nbsp;&nbsp; 2641 |
| U.S Small Company Fund | &nbsp;&nbsp;&nbsp; 11352 | &nbsp;&nbsp;&nbsp;&nbsp; 5519 | &nbsp;&nbsp;&nbsp;&nbsp; 3670 |
| U.S. Equity Fund | &nbsp;&nbsp; 249376 | &nbsp;&nbsp; 241967 | &nbsp;&nbsp; 304471 |
| U.S. GARP Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp; 4592 | &nbsp;&nbsp;&nbsp;&nbsp; 2294 | &nbsp;&nbsp;&nbsp; 13908 |
| U.S. Large Cap Core Plus Fund | &nbsp;&nbsp;&nbsp; 10496 | &nbsp;&nbsp;&nbsp; 10510 | &nbsp;&nbsp;&nbsp; 38881 |
| U.S. Research Enhanced Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
| U.S. Sustainable Leaders Fund | &nbsp;&nbsp;&nbsp; 11305 | &nbsp;&nbsp;&nbsp;&nbsp; 4639 | &nbsp;&nbsp;&nbsp;&nbsp; 3530 |
| U.S. Value Fund | &nbsp;&nbsp; 179624 | &nbsp;&nbsp; 219524 | &nbsp;&nbsp; 142214 |
| Value Advantage Fund | &nbsp;&nbsp; 183716 | &nbsp;&nbsp; 144711 | &nbsp;&nbsp;&nbsp; 92300 |

---

For more information on JPMDS, see the "Distributor" section in Part II of this SAI.

Part I - 42

------

**Distribution Fees**

The table below sets forth the Rule 12b-1 fees that the Funds paid to or that were accrued by JPMDS (waived amounts are in parentheses) with respect to the fiscal periods indicated (amounts in thousands).

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** |
| Class A Shares | &nbsp;&nbsp; $311 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $260 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $263 | &nbsp;&nbsp; $— |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; — |
| **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** |
| Class A Shares | &nbsp;&nbsp; 12276 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11429 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10948 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp; 10728 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8467 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6480 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 527 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 673 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 | &nbsp;&nbsp; — |
| **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1909 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1735 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2083 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668 | &nbsp;&nbsp; — |
| **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1328 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1280 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1163 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 3447 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2873 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1997 | &nbsp;&nbsp; — |
| **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 7533 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6297 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8471 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 8438 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5795 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5569 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; — |
| **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 4541 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3414 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3269 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 3691 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3112 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3416 | &nbsp;&nbsp; — |
| **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 1292 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1795 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1675 | &nbsp;&nbsp; — |
| **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 833 | &nbsp;&nbsp; — |
| **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** |
| Class A Shares | &nbsp;&nbsp; 12017 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10117 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13649 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 5602 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4268 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5392 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 936 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1431 | &nbsp;&nbsp; — |
| **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 556 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 682 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 722 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 671 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 629 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; — |
| **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1511 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1452 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1746 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; — |
| **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 3774 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2948 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3223 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp; — |
| **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 3996 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3063 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2906 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 554 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp; — |

---

Part I - 43

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** |
| Class A Shares | &nbsp;&nbsp; $730 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $762 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $891 | &nbsp;&nbsp; $— |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp; — |
| **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1845 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1296 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1114 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp; — |
| **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1476 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 939 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 842 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp; — |
| **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp; — |
| **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; — |
| **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 4432 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4334 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5478 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 2994 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2757 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3154 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp; 1324 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1180 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1352 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516 | &nbsp;&nbsp; — |
| **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 | &nbsp;&nbsp; — |
| **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 657 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; — |
| **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 419 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 403 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440 | &nbsp;&nbsp; — |
| **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp; — |
| **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; — |
| **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1558 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2277 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2848 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 698 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 819 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp; — |
| **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 2797 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3107 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3215 | &nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 2481 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1936 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1433 | &nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; — |

---

<sup>1</sup>

The Fund commenced operations on 11/1/22.

For a more complete discussion, see the "Distribution Plan" section in Part II of this SAI.

Part I - 44

------

**SHAREHOLDER SERVICING**

**Service Fees**

Under the Shareholder Servicing Agreement, each Fund has agreed to pay JPMDS, for providing shareholder services and other related services, a fee at the following annual rates (expressed as a percentage of the average daily net asset value ("NAV") of Fund shares owned by or for shareholders):

---

| | |
|:---|:---|
| Class A, Class C, Class I, Class R2, Class R3 and Class R4 | Up to 0.25% |
| Class L and Class R5 | Up to 0.10% |
| Class R6 |  |

---

The tables below set forth the fees paid or accrued to JPMDS (the amounts voluntarily waived are in parentheses) for the fiscal years indicated (amounts in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** |
| Class A Shares | &nbsp;&nbsp; $120 | &nbsp;&nbsp; $(191) | &nbsp;&nbsp; $90 | &nbsp;&nbsp; $(170) | &nbsp;&nbsp; $84 | &nbsp;&nbsp; $(179) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44) |
| Class L Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (55) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34) |
| **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** |
| Class A Shares | &nbsp;&nbsp; 12276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 11429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 10948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class I Shares | &nbsp;&nbsp; 47301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 46327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 42641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R5 Shares | &nbsp;&nbsp;&nbsp; 1578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1039 | &nbsp;&nbsp;&nbsp;&nbsp; (870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 924 | &nbsp;&nbsp;&nbsp;&nbsp; (811) | &nbsp;&nbsp;&nbsp; 1103 | &nbsp;&nbsp;&nbsp;&nbsp; (980) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class I Shares | &nbsp;&nbsp;&nbsp; 2064 | &nbsp;&nbsp; (1330) | &nbsp;&nbsp;&nbsp; 1452 | &nbsp;&nbsp;&nbsp;&nbsp; (956) | &nbsp;&nbsp;&nbsp; 1640 | &nbsp;&nbsp; (1082) |
| **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp; 1273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | &nbsp;&nbsp;&nbsp; 1158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) |
| Class C Shares | &nbsp;&nbsp;&nbsp; 1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 2748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (35) | &nbsp;&nbsp;&nbsp; 6832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (53) | &nbsp;&nbsp;&nbsp; 9616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 7285 | &nbsp;&nbsp;&nbsp;&nbsp; (248) | &nbsp;&nbsp;&nbsp; 5971 | &nbsp;&nbsp;&nbsp;&nbsp; (326) | &nbsp;&nbsp;&nbsp; 8034 | &nbsp;&nbsp;&nbsp;&nbsp; (437) |
| Class C Shares | &nbsp;&nbsp;&nbsp; 2717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (96) | &nbsp;&nbsp;&nbsp; 1821 | &nbsp;&nbsp;&nbsp;&nbsp; (111) | &nbsp;&nbsp;&nbsp; 1741 | &nbsp;&nbsp;&nbsp;&nbsp; (115) |
| Class I Shares | &nbsp;&nbsp; 10892 | &nbsp;&nbsp;&nbsp;&nbsp; (305) | &nbsp;&nbsp;&nbsp; 8893 | &nbsp;&nbsp;&nbsp;&nbsp; (408) | &nbsp;&nbsp; 11955 | &nbsp;&nbsp;&nbsp;&nbsp; (530) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 4541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp; 1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class I Shares | &nbsp;&nbsp; 36231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 29992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 34376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> | **Hedged Equity 2 Fund**<sup>1</sup> |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 7289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26) | &nbsp;&nbsp;&nbsp; 9470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24) | &nbsp;&nbsp;&nbsp; 9282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> | **Hedged Equity 3 Fund**<sup>1</sup> |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 3853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) | &nbsp;&nbsp;&nbsp; 5476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20) | &nbsp;&nbsp;&nbsp; 5331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |

---

Part I - 45

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** |
| Class A Shares | &nbsp;&nbsp; $11751 | &nbsp;&nbsp; $(266) | &nbsp;&nbsp; $9848 | &nbsp;&nbsp; $(269) | &nbsp;&nbsp; $13320 | &nbsp;&nbsp; $(329) |
| Class C Shares | &nbsp;&nbsp;&nbsp; 1852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15) | &nbsp;&nbsp;&nbsp; 1411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp; 1780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17) |
| Class I Shares | &nbsp;&nbsp; 27133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11) | &nbsp;&nbsp; 29461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31) | &nbsp;&nbsp; 46071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp; 1422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp; 1493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) |
| **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (54) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (63) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (77) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 3005 | &nbsp;&nbsp;&nbsp;&nbsp; (257) | &nbsp;&nbsp;&nbsp; 3289 | &nbsp;&nbsp;&nbsp;&nbsp; (137) | &nbsp;&nbsp;&nbsp; 3373 | &nbsp;&nbsp;&nbsp;&nbsp; (157) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp; 1440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp; 1733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 2336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21) | &nbsp;&nbsp;&nbsp; 2282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp; 2548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 3011 | &nbsp;&nbsp;&nbsp;&nbsp; (763) | &nbsp;&nbsp;&nbsp; 2060 | &nbsp;&nbsp;&nbsp;&nbsp; (888) | &nbsp;&nbsp;&nbsp; 2219 | &nbsp;&nbsp; (1004) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (42) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 3448 | &nbsp;&nbsp; (1105) | &nbsp;&nbsp;&nbsp; 3219 | &nbsp;&nbsp; (1125) | &nbsp;&nbsp;&nbsp; 4718 | &nbsp;&nbsp; (1472) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488 | &nbsp;&nbsp;&nbsp;&nbsp; (162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (42) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48) |
| **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 3843 | &nbsp;&nbsp;&nbsp;&nbsp; (153) | &nbsp;&nbsp;&nbsp; 2883 | &nbsp;&nbsp;&nbsp;&nbsp; (180) | &nbsp;&nbsp;&nbsp; 2720 | &nbsp;&nbsp;&nbsp;&nbsp; (186) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 6885 | &nbsp;&nbsp;&nbsp;&nbsp; (203) | &nbsp;&nbsp;&nbsp; 5065 | &nbsp;&nbsp;&nbsp;&nbsp; (221) | &nbsp;&nbsp;&nbsp; 4277 | &nbsp;&nbsp;&nbsp;&nbsp; (191) |
| Class L Shares | &nbsp;&nbsp;&nbsp; 5600 | &nbsp;&nbsp; (2110) | &nbsp;&nbsp;&nbsp; 6477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp; 5713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp; 1017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) |
| **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class I Shares | &nbsp;&nbsp;&nbsp; 8711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32) | &nbsp;&nbsp;&nbsp; 5951 | &nbsp;&nbsp;&nbsp;&nbsp; (239) | &nbsp;&nbsp;&nbsp; 4942 | &nbsp;&nbsp;&nbsp;&nbsp; (295) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644 | &nbsp;&nbsp;&nbsp;&nbsp; (424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp;&nbsp; (366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382 | &nbsp;&nbsp;&nbsp;&nbsp; (316) |

---

Part I - 46

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** |
| Class A Shares | &nbsp;&nbsp; $1433 | &nbsp;&nbsp; $(43) | &nbsp;&nbsp; $900 | &nbsp;&nbsp; $(39) | &nbsp;&nbsp; $800 | &nbsp;&nbsp; $(42) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 2084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18) | &nbsp;&nbsp;&nbsp; 1210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15) | &nbsp;&nbsp;&nbsp; 1305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18) |
| Class L Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (96) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 | &nbsp;&nbsp;&nbsp;&nbsp; (100) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 4345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87) | &nbsp;&nbsp;&nbsp; 4249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (85) | &nbsp;&nbsp;&nbsp; 5367 | &nbsp;&nbsp;&nbsp;&nbsp; (111) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp; 1037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 4852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71) | &nbsp;&nbsp;&nbsp; 5551 | &nbsp;&nbsp;&nbsp;&nbsp; (245) | &nbsp;&nbsp; 10062 | &nbsp;&nbsp;&nbsp;&nbsp; (276) |
| Class L Shares | &nbsp;&nbsp;&nbsp; 1899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp; 1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11) | &nbsp;&nbsp;&nbsp; 1151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13) |
| **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp;&nbsp; (328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp;&nbsp;&nbsp; (389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp; (539) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (85) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 2260 | &nbsp;&nbsp; (1573) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 751 | &nbsp;&nbsp; (1418) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp; (2076) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp;&nbsp;&nbsp; (261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; (250) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp;&nbsp;&nbsp; (273) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 711 | &nbsp;&nbsp; (1083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp; (1002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; (1142) |
| **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (54) |
| Class L Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

Part I - 47

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
|  | **June 30, 2022** | **June 30, 2022** | **June 30, 2023** | **June 30, 2023** | **June 30, 2024** | **June 30, 2024** |
| **Fund** | **Paid** | **Waived** | **Paid** | **Waived** | **Paid** | **Waived** |
| **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** |
| Class A Shares | &nbsp;&nbsp; $14 | &nbsp;&nbsp; $(72) | &nbsp;&nbsp; $18 | &nbsp;&nbsp; $(82) | &nbsp;&nbsp; $22 | &nbsp;&nbsp; $(103) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) |
| Class I Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; (207) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; (168) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; (157) |
| **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 1445 | &nbsp;&nbsp;&nbsp;&nbsp; (113) | &nbsp;&nbsp;&nbsp; 2161 | &nbsp;&nbsp;&nbsp;&nbsp; (116) | &nbsp;&nbsp;&nbsp; 2693 | &nbsp;&nbsp;&nbsp;&nbsp; (155) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 2765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13) | &nbsp;&nbsp;&nbsp; 4620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23) | &nbsp;&nbsp;&nbsp; 5846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29) |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** |
| Class A Shares | &nbsp;&nbsp;&nbsp; 2687 | &nbsp;&nbsp;&nbsp;&nbsp; (110) | &nbsp;&nbsp;&nbsp; 2926 | &nbsp;&nbsp;&nbsp;&nbsp; (181) | &nbsp;&nbsp;&nbsp; 3016 | &nbsp;&nbsp;&nbsp;&nbsp; (199) |
| Class C Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (43) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46) |
| Class I Shares | &nbsp;&nbsp;&nbsp; 5715 | &nbsp;&nbsp;&nbsp;&nbsp; (185) | &nbsp;&nbsp;&nbsp; 4697 | &nbsp;&nbsp;&nbsp;&nbsp; (251) | &nbsp;&nbsp;&nbsp; 4051 | &nbsp;&nbsp;&nbsp;&nbsp; (223) |
| Class L Shares | &nbsp;&nbsp;&nbsp; 1870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp; 1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| Class R2 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R3 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| Class R4 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |
| Class R5 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —\* |

---

\*

Amount rounds to less than $500.

<sup>1</sup>

The Fund commenced operations on 11/1/22.

For a more complete discussion, see the "Shareholder Servicing" section in Part II of this SAI.

**BROKERAGE AND RESEARCH SERVICES**

**Brokerage Commissions**

The Funds paid the following brokerage commissions for the indicated fiscal years:

---

| | | | |
|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
| **Fund** | **June 30, 2022** | **June 30, 2023** | **June 30, 2024** |
| **Diversified Fund** | **Diversified Fund** | **Diversified Fund** | **Diversified Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; $193500 | &nbsp;&nbsp; $187765 | &nbsp;&nbsp; $132123 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762 |
| **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** | **Equity Income Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 3617942 | &nbsp;&nbsp; 1735993 | &nbsp;&nbsp; 5813277 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87363 |
| **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** | **Equity Index Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 148501 | &nbsp;&nbsp;&nbsp;&nbsp; 161772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53213 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** | **Equity Premium Income Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 473464 | &nbsp;&nbsp;&nbsp;&nbsp; 734115 | &nbsp;&nbsp;&nbsp;&nbsp; 583748 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13869 |
| **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** | **Growth Advantage Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1792809 | &nbsp;&nbsp; 2096870 | &nbsp;&nbsp; 1335641 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46983 |
| **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** | **Hedged Equity Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 5522944 | &nbsp;&nbsp; 6154080 | &nbsp;&nbsp; 4279089 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 139406 |
| **Hedged Equity 2 Fund** | **Hedged Equity 2 Fund** | **Hedged Equity 2 Fund** | **Hedged Equity 2 Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1871175 | &nbsp;&nbsp; 2078199 | &nbsp;&nbsp; 1620090 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64766 |
| **Hedged Equity 3 Fund** | **Hedged Equity 3 Fund** | **Hedged Equity 3 Fund** | **Hedged Equity 3 Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1002509 | &nbsp;&nbsp; 1082338 | &nbsp;&nbsp;&nbsp;&nbsp; 984070 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56869 |

---

Part I - 48

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Fiscal Year Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
| **Fund** | **June 30, 2022** | **June 30, 2023** | **June 30, 2024** |
| **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** | **Large Cap Growth Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; $4416930 | &nbsp;&nbsp; $8276860 | &nbsp;&nbsp; $6631139 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** | **Large Cap Value Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 2548963 | &nbsp;&nbsp; 2542827 | &nbsp;&nbsp; 3584349 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65226 |
| **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** | **Mid Cap Equity Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 584213 | &nbsp;&nbsp;&nbsp;&nbsp; 719739 | &nbsp;&nbsp;&nbsp;&nbsp; 890821 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47369 |
| **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1718005 | &nbsp;&nbsp; 1697426 | &nbsp;&nbsp; 2503491 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2424 |
| **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** | **Mid Cap Value Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 2590278 | &nbsp;&nbsp; 1502002 | &nbsp;&nbsp; 1855901 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8189 |
| **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** | **Small Cap Blend Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 718009 | &nbsp;&nbsp;&nbsp;&nbsp; 578400 | &nbsp;&nbsp;&nbsp;&nbsp; 558170 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26582 |
| **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** | **Small Cap Equity Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1610696 | &nbsp;&nbsp; 1354580 | &nbsp;&nbsp; 1481007 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11772 |
| **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** | **Small Cap Growth Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 2060676 | &nbsp;&nbsp; 1529499 | &nbsp;&nbsp; 1702019 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 157584 |
| **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** | **Small Cap Value Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1129527 | &nbsp;&nbsp; 1658309 | &nbsp;&nbsp; 1579140 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35711 |
| **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** | **SMID Cap Equity Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67665 | &nbsp;&nbsp;&nbsp;&nbsp; 101715 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5496 |
| **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** | **U.S. Equity Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 3244514 | &nbsp;&nbsp; 3986928 | &nbsp;&nbsp; 4637356 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71640 |
| **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** | **U.S. GARP Equity Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 167313 | &nbsp;&nbsp;&nbsp;&nbsp; 142944 | &nbsp;&nbsp;&nbsp;&nbsp; 155240 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786 |
| **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** | **U.S. Large Cap Core Plus Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1238112 | &nbsp;&nbsp;&nbsp;&nbsp; 961206 | &nbsp;&nbsp; 1116266 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** | **U.S. Research Enhanced Equity Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 853597 | &nbsp;&nbsp;&nbsp;&nbsp; 940629 | &nbsp;&nbsp;&nbsp;&nbsp; 960611 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7897 |
| **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** | **U.S. Small Company Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 912903 | &nbsp;&nbsp;&nbsp;&nbsp; 940784 | &nbsp;&nbsp;&nbsp;&nbsp; 814376 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26791 |
| **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** | **U.S. Sustainable Leaders Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14445 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 |
| **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** | **U.S. Value Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp;&nbsp;&nbsp; 383750 | &nbsp;&nbsp;&nbsp;&nbsp; 499001 | &nbsp;&nbsp;&nbsp;&nbsp; 425382 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12110 |
| **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** | **Value Advantage Fund** |
| Total Brokerage Commissions | &nbsp;&nbsp; 1629633 | &nbsp;&nbsp; 1813936 | &nbsp;&nbsp;&nbsp;&nbsp; 988621 |
| Brokerage Commissions to Affiliated Broker/Dealers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |

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Part I - 49

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For more information concerning brokerage, see the "Portfolio Transactions" section in Part II of this SAI.

**Broker Research**

For the fiscal year ended June 30, 2025, the Adviser allocated brokerage commissions to brokers who provided broker research, including third-party broker research, for the Funds as follows:

---

| | |
|:---|:---|
| **Fund Name** | **Amount** |
| **Diversified Fund** | $8391 |
| **Equity Income Fund** | &nbsp;&nbsp; 2116110 |
| **Equity Index Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3931 |
| **Equity Premium Income Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 289605 |
| **Growth Advantage Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 552802 |
| **Hedged Equity 2 Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 345880 |
| **Hedged Equity 3 Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 219848 |
| **Hedged Equity Fund** | &nbsp;&nbsp; 1040790 |
| **Large Cap Growth Fun** | &nbsp;&nbsp; 2692922 |
| **Large Cap Value Fund** | &nbsp;&nbsp; 1570073 |
| **Mid Cap Equity Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 371837 |
| **Mid Cap Growth Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 931178 |
| **Mid Cap Value Fun** | &nbsp;&nbsp;&nbsp;&nbsp; 653270 |
| **Small Cap Blend Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 213609 |
| **Small Cap Equity Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 595528 |
| **Small Cap Growth Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 697154 |
| **Small Cap Value Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 805821 |
| **SMID Cap Equity Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52007 |
| **U.S. Equity Fund** | &nbsp;&nbsp; 1887804 |
| **U.S. GARP Equity Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82558 |
| **U.S. Large Cap Core Plus Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 572213 |
| **U.S. Research Enhanced Equity Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 481072 |
| **U.S. Small Company Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 413768 |
| **U.S. Sustainable Leaders Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7503 |
| **U.S. Value Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 192163 |
| **Value Advantage Fund** | &nbsp;&nbsp;&nbsp;&nbsp; 425095 |

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**Securities of Regular Broker-Dealers**

As of June 30, 2025, certain Funds owned securities of their regular broker-dealers (or parents thereof) as shown below (amounts in thousands):

---

| | | |
|:---|:---|:---|
| **Fund** | **Name of Broker-Dealer** | **Value of Securities**<br> **Owned (000's)**<br>|
| **Diversified Fund** | Ameriprise Financial, Inc. | $436 |
|  | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3344 |
|  | Barclays plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 |
|  | BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 867 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1037 |
|  | KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1664 |
|  | Nomura Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231 |
|  | UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1360 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2888 |
| **Equity Income Fund** | Bank of America Corp. | &nbsp;&nbsp; 1157394 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 905174 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 928260 |
|  | Wells Fargo & Co. | &nbsp;&nbsp; 1351435 |

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Part I - 50

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| | | |
|:---|:---|:---|
| **Fund** | **Name of Broker-Dealer** | **Value of Securities**<br> **Owned (000's)**<br>|
| **Equity Index Fund** | American International Group, Inc. | $11073 |
|  | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60811 |
|  | Broadridge Financial Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5232 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24724 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27204 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9421 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32780 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 130535 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35911 |
|  | Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5182 |
| **Equity Premium Income Fund** | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28519 |
| **Growth Advantage Fund** | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 155111 |
| **Hedged Equity 2 Fund** | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5855 |
|  | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55524 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18991 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5818 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14768 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29048 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42971 |
| **Hedged Equity 3 Fund** | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3530 |
|  | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33477 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11447 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3703 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8902 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17509 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25902 |
| **Hedged Equity Fund** | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23216 |
|  | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 220206 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75300 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24361 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58554 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 115175 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 170379 |
| **Large Cap Value Fund** | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 102189 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 108383 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44104 |
|  | Jefferies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8997 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73481 |
| **Mid Cap Equity Fund** | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64484 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32160 |
|  | LPL Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15574 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15126 |
| **Mid Cap Growth Fund** | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 103657 |
|  | Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76154 |
| **Mid Cap Value Fund** | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp; 142352 |
| **Small Cap Blend Fund** | EVERCORE GROUP INC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7791 |
|  | LPL Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6565 |
| **Small Cap Growth Fund** | EVERCORE GROUP INC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38412 |
| **Small Cap Value Fund** | Piper Sandler & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 614 |
| **SMID Cap Equity Fund** | LPL Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3800 |
| **U.S. Equity Fund** | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 388956 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 469065 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 749129 |

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Part I - 51

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| | | |
|:---|:---|:---|
| **Fund** | **Name of Broker-Dealer** | **Value of Securities**<br> **Owned (000's)**<br>|
| **U.S. Large Cap Core Plus Fund** | Ameriprise Financial, Inc. | $4509 |
|  | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8989 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10219 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32972 |
|  | Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2173 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39757 |
| **U.S. Research Enhanced Equity Fund** | Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11209 |
|  | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 106323 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36357 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11762 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, <br> Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28273 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55611 |
|  | Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18108 |
| **U.S. Small Company Fund** | Piper Sandler & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2497 |
| **U.S. Sustainable Leaders Fund** | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3826 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2418 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 |
| **U.S. Value Fund** | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 134529 |
|  | Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 105484 |
|  | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41183 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp; 106461 |
| **Value Advantage Fund** | Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 208329 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64465 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 246124 |

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For a more complete discussion, see the "Portfolio Transactions" section in Part II of this SAI.

**FINANCIAL INTERMEDIARIES**

**Other Cash Compensation Payments**

During the fiscal year ended June 30, 2025, JPMIM paid approximately $429,641,586 for all the J.P. Morgan Funds pursuant to written agreements with Financial Intermediaries (including both FINRA members and non-members) including written agreements for sub-transfer agency and/or omnibus accounting services (collectively, "Omnibus Sub-Accounting") and networking.

For a more complete discussion, see the "Additional Compensation to Financial Intermediaries" section in Part II of this SAI.

**Finders' Fee Commissions**

Financial Intermediaries who sell $250,000 or more of Class A Shares in the aggregate of certain J.P. Morgan Income Funds, the J.P. Morgan Investor Funds and certain other J.P. Morgan Funds or over $1 million of Class A Shares in the aggregate of the J.P. Morgan Equity Funds, the J.P. Morgan Specialty Funds, the J.P. Morgan International Funds, the JPMorgan SmartRetirement Funds, the other J.P. Morgan Income Funds and certain other J.P. Morgan Funds may receive finder's fees.

Financial Intermediaries who sell over $1 million of Class A Shares of the Funds may receive a finder's fee. Such fees are paid in accordance with the following schedule:

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| | |
|:---|:---|
| **Amount of Purchases** | **Finders' Fee** |
| $1,000,000 – $3,999,999\* | 1.00% |
| $4000000 – $9999999 | 0.75% |
| $10000000 – $49999999 | 0.50% |
| $50,000,000 or more | 0.25% |

---

\*

If the total sale of Class A Shares of Funds that have Finders' Fees ("Qualifying Funds") is $1,000,000 or more but the amount of the sale applicable to the Fund is less than $1,000,000, the Financial Intermediary will receive a Finder's Fee equal to 1.00% of the sale of the Class A Shares of the Fund. The Finders' Fee Schedule for sales of the other Qualifying Funds can be found in the Statement of Additional Information for such Qualifying Funds.

Part I - 52

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The Distributor may also pay Financial Intermediaries a finder's fee commission on sales of Class A Shares to certain defined contribution plans. If a plan redeems the shares of certain Funds for which a finder's fee has been paid within 18 months of the purchase date (12 months for Mortgage-Backed Securities Fund), no CDSC is charged. However, JPMDS reserves the right to reclaim the finder's fee paid to the Financial Intermediary. JPMDS reserves the right to alter or change the finder's fee policy on these plans at any time at its own discretion.

For a more complete discussion, see the "Additional Compensation to Financial Intermediaries" section in Part II of this SAI.

**Finders' Fees Paid By Distributor**

During the fiscal year ended June 30, 2025, JPMDS paid approximately $33,607,156 in finder's fees for all J.P. Morgan Funds.

For a more complete discussion, see the "Additional Cash Compensation to Financial Intermediaries" section in Part II of this SAI.

**TAX MATTERS**

**Capital Loss Carryforwards**

As of June 30, 2025, the following Funds had net capital loss carryforwards (amounts in thousands):

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| | | |
|:---|:---|:---|
|  | **Capital Loss Carryforward**<br> **Character** | **Capital Loss Carryforward**<br> **Character** |
| **Fund** | **Short-Term** | **Long-Term** |
| Diversified Fund | $2962 | $— |
| Equity Index Fund | &nbsp;&nbsp;&nbsp; 32119 | &nbsp;&nbsp;&nbsp; 65772 |
| Equity Premium Income Fund | &nbsp;&nbsp; 654909 | &nbsp;&nbsp; 155528 |
| Hedged Equity Fund | &nbsp;&nbsp; 656369 | &nbsp;&nbsp; 313128 |
| Hedged Equity 2 Fund | &nbsp;&nbsp; 322683 | &nbsp;&nbsp; 326026 |
| Hedged Equity 3 Fund | &nbsp;&nbsp; 103020 | &nbsp;&nbsp; 157524 |
| Large Cap Growth Fund | &nbsp;&nbsp; 542578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Small Cap Blend Fund | &nbsp;&nbsp;&nbsp;&nbsp; 6539 | &nbsp;&nbsp;&nbsp; 22964 |
| Small Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 241783 |
| SMID Cap Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4867 |
| U.S. Sustainable Leaders Fund | &nbsp;&nbsp;&nbsp; 11932 | &nbsp;&nbsp;&nbsp;&nbsp; 1004 |

---

For more information on tax matters, see the "Distributions and Tax Matters" section in Part II of this SAI.

**PORTFOLIO HOLDINGS DISCLOSURE**

A list of the entities that receive the Funds' portfolio holdings information, the frequency with which it is provided to them and the length of the lag between the date of the information and the date it is disclosed is provided below:

---

| | | |
|:---|:---|:---|
| **All Funds** |  |  |
| JPMorgan Chase & Co. | Monthly | 30 days after month end |
| Morningstar Inc. | Monthly | 30 days after month end |
| **All Funds excluding JPMorgan Hedged Equity 2 Fund** <br> **and JPMorgan Hedged Equity 3 Fund**<br>|  |  |
| Bloomberg LP | Monthly | 30 days after month end |
| Lipper, Inc. | Monthly | 30 days after month end |
| **All Funds excluding JPMorgan Hedged Equity 2 Fund** <br> **and JPMorgan Hedged Equity 3 Fund**<br>|  |  |
| The McGraw-Hill Companies, Inc. — Standard & Poor's | Monthly | 30 days after month end |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |
| Aris Corporation | Quarterly | 30 days after quarter end |
| **JPMorgan Mid Cap Value Fund** |  |  |
| Callan Associates | Monthly | 30 days after month end |
| **JPMorgan Mid Cap Value Fund** |  |  |
| **JPMorgan U.S. Research Enhanced Equity Fund** |  |  |

---

Part I - 53

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---

| | | |
|:---|:---|:---|
| Concord Advisory | Monthly | 30 days after month end |
| **JPMorgan Mid Cap Growth Fund** |  |  |
| **JPMorgan Small Cap Blend Fund** |  |  |
| Hartland & Co. | Monthly | 30 days after month end |
| **JPMorgan Mid Cap Value Fund** |  |  |
| **JPMorgan Small Cap Growth Fund** |  |  |
| **JPMorgan U.S. GARP Equity Fund** |  |  |
| Informa Investment Solutions (PSN) | Quarterly | 30 days after quarter end |
| **JPMorgan Small Cap Equity Fund** |  |  |
| **JPMorgan Small Cap Growth Fund** |  |  |
| Jeffrey Slocum & Associates, Inc. | Quarterly | 30 days after quarter end |
| **JPMorgan Equity Income Fund** |  |  |
| **JPMorgan Large Cap Growth Fund** |  |  |
| **JPMorgan U.S. Equity Fund** |  |  |
| Lockwood Advisors | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Small Cap Value Fund** |  |  |
| Marco Consulting | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Equity Index Fund** |  |  |
| **JPMorgan Small Cap Value Fund** |  |  |
| Mellon Analytical Solutions | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |
| Morgan Stanley Smith Barney | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan U.S. Research Enhanced Equity Fund** |  |  |
| New England Pension Consultants | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |
| Oppenheimer | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Mid Cap Value Fund** |  |  |
| **JPMorgan Small Cap Growth Fund** |  |  |
| PSN & Morningstar | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Equity Income Fund** |  |  |
| **JPMorgan Large Cap Growth Fund** |  |  |
| **JPMorgan Mid Cap Value Fund** |  |  |
| **JPMorgan U.S. Equity Fund** |  |  |
| **JPMorgan U.S. GARP Equity Fund** |  |  |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |
| Prime, Buchholz & Associates, Inc. | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Mid Cap Value Fund** |  |  |
| **JPMorgan Small Cap Growth Fund** |  |  |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |
| **JPMorgan Value Advantage Fund** |  |  |
| Raymond James | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Small Cap Equity Fund** |  |  |
| Rochester Area Community Foundation | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan U.S. Equity Fund** |  |  |
| **JPMorgan U.S. Research Enhanced Equity Fund** |  |  |
| Roger Casey | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Large Cap Growth Fund** |  |  |
| **JPMorgan Mid Cap Value Fund** |  |  |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |
| RV Kuhns | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan SMID Cap Equity Fund** |  |  |
| Strategic Advisors, Inc. | 30 days after quarter end | 30 days after quarter end |

---

Part I - 54

------

---

| | | | |
|:---|:---|:---|:---|
| **JPMorgan Diversified Fund** |  |  |  |
| **JPMorgan Equity Income Fund** |  |  |  |
| **JPMorgan Mid Cap Value Fund** |  |  |  |
| **JPMorgan Small Cap Blend Fund** |  |  |  |
| **JPMorgan Small Cap Equity Fund** |  |  |  |
| **JPMorgan Small Cap Growth Fund** |  |  |  |
| **JPMorgan SMID Cap Equity Fund** |  |  |  |
| **JPMorgan U.S. Equity Fund** |  |  |  |
| **JPMorgan U.S. GARP Equity Fund** |  |  |  |
| **JPMorgan U.S. Research Enhanced Equity Fund** |  |  |  |
| **JPMorgan U.S. Small Company Fund** |  |  |  |
| **JPMorgan U.S. Sustainable Leaders Fund** |  |  |  |
| Vestek | Monthly | Monthly | 30 days after month end |
| **JPMorgan Mid Cap Value Fund** |  |  |  |
| **JPMorgan U.S. Equity Fund** |  |  |  |
| Watson Wyatt Worldwide | Quarterly | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Equity Index Fund** |  |  |  |
| **JPMorgan Small Cap Equity Fund** |  |  |  |
| **JPMorgan U.S. GARP Equity Fund** |  |  |  |
| Watson Wyatt Worldwide | Monthly | 30 days after month end | 30 days after month end |
| **JPMorgan Equity Income Fund** |  |  |  |
| **JPMorgan Hedged Equity Fund** |  |  |  |
| **JPMorgan Large Cap Growth Fund** |  |  |  |
| **JPMorgan Mid Cap Equity Fund** |  |  |  |
| **JPMorgan Mid Cap Growth Fund** |  |  |  |
| **JPMorgan Mid Cap Value Fund** |  |  |  |
| **JPMorgan Small Cap Equity Fund** |  |  |  |
| **JPMorgan U.S. Equity Fund** |  |  |  |
| **JPMorgan U.S. GARP Equity Fund** |  |  |  |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |  |
| Wells Fargo | Quarterly | 30 days after quarter end | 30 days after quarter end |
| **JPMorgan Mid Cap Value Fund** |  |  |  |
| **JPMorgan U.S. Large Cap Core Plus Fund** |  |  |  |
| Wells Fargo | Monthly | 30 days after month end | 30 days after month end |
| **JPMorgan Equity Index Fund** |  |  |  |
| **JPMorgan U.S. Value Fund** |  |  |  |
| Wilshire | Quarterly | 30 days after quarter end | 30 days after quarter end |

---

For a more complete discussion, see the "Portfolio Holdings Disclosure" section in Part II of this SAI.

**SHARE OWNERSHIP**

**Trustees and Officers**

As of December 31, 2024, the officers and Trustees, as a group, owned less than 1% of the shares of any class of each Fund.

**Principal Holders**

As of September 30, 2024, the persons who owned of record, or were known by the Trusts to own beneficially, 5% or more of the outstanding shares of any class of the Funds included in this SAI are shown in Attachment I-A, Principal Shareholders.

Part I - 55

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**FINANCIAL STATEMENTS**

[The financial statements of the Funds are incorporated by reference into this SAI.](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001217286/000119312524214942/d877241dncsr.htm) The financial statements for the fiscal year ended June 30, 2025, have been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm to the Funds, as indicated in its report with respect thereto, and are incorporated herein by reference in reliance on the report of said firm, given on the authority of said firm as experts in accounting and auditing. These financial statements included in the Financial Statements and Other Information are available online at www.jpmorganfunds.com or without charge upon request by calling J.P. Morgan Funds Services at 1-800-480-4111.

Part I - 56

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**Attachment I-A**

**PRINCIPAL SHAREHOLDERS**

Persons who beneficially own 25% or more of the outstanding Shares of a Fund are presumed to "control" (as that term is defined in the 1940 Act) such Funds. As a result, those persons may have the ability to control the outcome on any matter requiring the approval of shareholders of such Funds. The list below includes record owners of over 5% of the share classes specified below based on the Funds' books and records. Such shareholders may hold their Shares on behalf of other beneficial owners and may not be beneficial owners of the share classes identified.

---

| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **JPMORGAN DIVERSIFIED FUND** | **JPMORGAN DIVERSIFIED FUND** | **JPMORGAN DIVERSIFIED FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **45.22%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **6.49%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **23.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **18.75%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **11.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **9.25%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> IAIA 401K<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **7.69%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **49.77%** |

---

Part I - 57

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> MICHIGAN CORPORATE SERVICES LLC 401<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **9.48%** |
| **CLASS L SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> FBO CERTAIN RETIREMENT PLANS<br> 8515 E ORCHARD ROAD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **25.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; THE GRACO FOUNDATION<br> PO BOX 1441<br> MINNEAPOLIS MN 55440-1441<br>| **22.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> DISCOUNT TIRE AMERICAS TIRE RETIREM<br> PLAN<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **21.05%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RELIANCE TRUST COMPANY FBO<br> MALVERN<br> PO BOX 28004<br> ATLANTA GA 30358-0004<br>| **8.37%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **7.21%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **6.54%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> J P MORGAN CHASE BANK N A<br> PALOMA RHEEM INVESTMENTS<br> 4 CHASE METROTECH CTR FL 3RD<br> BROOKLYN NY 11245-0003<br>| **35.07%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> BAE SYSTEMS SUPPLEMENTAL <br> RETIREMENT<br> TRUST<br> ATTN CLIENT SERVICES<br> 1111 POLARIS PKWY # OH1-0084<br> COLUMBUS OH 43240-2031<br>| **31.48%** |

---

Part I - 58

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> MARTIN SPROCKET AND GEAR INC.<br> ATTN: CLIENT SERVICES<br> 1111 POLARIS PKWY OH1-0084<br> COLUMBUS OH 43240-2031<br>| **16.27%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> KEYBANK NATIONAL ASSOCIATION<br> KEYBANK NATIONAL ASSOCIATION<br> PO BOX 94871<br> CLEVELAND OH 44101-4871<br>| **6.05%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> STATE BOARD OF EDUCATION MICHIGAN<br> SCHOOL FOR THE BLIND<br> ATTN CLIENT SERVICES<br> 1111 POLARIS PKWY # OH1-0084<br> COLUMBUS OH 43240-2031<br>| **6.04%** |
| **JPMORGAN HEDGED EQUITY FUND** | **JPMORGAN HEDGED EQUITY FUND** | **JPMORGAN HEDGED EQUITY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **43.99%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **15.31%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **11.62%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **5.41%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **22.88%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **15.65%** |

---

Part I - 59

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **10.45%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **10.34%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **8.05%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **8.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **7.99%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **7.85%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **21.58%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **21.46%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.09%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **8.77%** |

---

Part I - 60

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **7.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **7.34%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **6.05%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **5.94%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> R G JOHNSON COMPANY INC<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **41.27%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; FIDELITY INVESTMENT INST OPERATIONS<br> CUST FBO<br> AMERICAN TANK & VESSEL, INC.<br> 100 MAGELLAN WAY #KWIC<br> COVINGTON KY 41015-1999<br>| **29.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **13.86%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **29.92%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; SEI PRIVATE TRUST COMPANY<br> C/O REGIONS BANK<br> ONE FREEDOM VALLEY DRIVE<br> OAKS PA 19456-9989<br>| **12.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORI & CO<br> 922 WALNUT ST<br> MAILSTOP TBTS 2<br> KANSAS CITY MO 64106-1802<br>| **11.32%** |

---

Part I - 61

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> MARIL & CO AS NOMINEE AGENT<br> FOR RELIANCE TRUST COMPANY<br> 201 17TH ST NW STE 1000<br> ATLANTA GA 30363-1195<br>| **10.36%** |
| **JPMORGAN MID CAP EQUITY FUND** | **JPMORGAN MID CAP EQUITY FUND** | **JPMORGAN MID CAP EQUITY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **88.93%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **16.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **16.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **15.39%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **12.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **9.52%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **9.26%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.96%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **52.81%** |

---

Part I - 62

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **16.47%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **8.25%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.95%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **12.21%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> PEEKSKILL CITY SCHOOL DISTRICT<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **9.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; FIDELITY INVESTMENTS INST<br> OPERATIONS CO INC AS AGENT FOR FBO<br> VEHICLE SOURCE PRODUCTS, INC.<br> 401(K) PLAN<br> 100 MAGELLAN WAY #KWIC<br> COVINGTON KY 41015-1999<br>| **5.50%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; FIRST STATE TRUST COMPANY 1<br> DELAWARE CORPORATE CENTER I<br> 1 RIGHTER PKWY STE 120<br> WILMINGTON DE 19803-1533<br>| **87.92%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> CHURCH AND CLERGY 403(B) PLAN<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **6.38%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **59.19%** |

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Part I - 63

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **14.97%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MAC & CO<br> ATTN MUTUAL FUND OPS<br> PO BOX 3198<br> 525 WILLIAM PENN PLACE<br> PITTSBURGH PA 15230-3198<br>| **8.09%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **5.03%** |
| **JPMORGAN SMALL CAP BLEND FUND** | **JPMORGAN SMALL CAP BLEND FUND** | **JPMORGAN SMALL CAP BLEND FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **70.38%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **5.52%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **24.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **16.75%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **13.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **13.14%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **23.65%** |

---

Part I - 64

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **17.84%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **12.08%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **9.93%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **9.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **9.26%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **6.53%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **96.62%** |
| **JPMORGAN SMALL CAP EQUITY FUND** | **JPMORGAN SMALL CAP EQUITY FUND** | **JPMORGAN SMALL CAP EQUITY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> REINVEST ACCOUNT<br> ATTN: MUTUAL FUNDS DEPT<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **13.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **10.58%** |

---

Part I - 65

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **10.08%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **9.64%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **19.76%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **12.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **12.08%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **10.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **8.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.71%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **5.69%** |

---

Part I - 66

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS WM USA<br> OMNI ACCOUNT M/F<br> SPEC CDY A/C EBOC UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN NJ 07086-6761<br>| **5.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RBC CAPITAL MARKETS LLC<br> MUTUAL FUND OMNIBUS PROCESSING<br> OMNIBUS<br> ATTN MUTUAL FUND OPS MANAGER<br> 250 NICOLLET MALL SUITE 1400<br> MINNEAPOLIS MN 55401-7582<br>| **5.07%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **17.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **15.62%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **12.71%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **11.05%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **8.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.43%** |

---

Part I - 67

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **16.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FIIOC AS AGENT FOR<br> QUALIFIED EMPLOYEE BENEFIT<br> PLANS (401K) FINOPS-IC FUNDS<br> 100 MAGELLAN WAY # KW1C<br> COVINGTON KY 41015-1987<br>| **11.07%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY CUST FBO<br> DOMINION CARTON CORPORATION<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **10.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MID ATLANTIC TRUST COMPANY FBO<br> AK ASSOCIATES 401(K) PROFIT SHARING<br> 1251 WATERFRONT PLACE, SUITE 525<br> PITTSBURGH PA 15222-4228<br>| **7.38%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EQUITABLE LIFE FOR SEPARATE ACCT 65<br> ON BEHALF OF VARIOUS 401 K PLANS<br> EQUITABLE LIFE<br> 525 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1606<br>| **6.19%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **59.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **22.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **16.10%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **99.30%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **18.64%** |

---

Part I - 68

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **16.64%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RELIANCE TRUST COMPANY FBO<br> T ROWE PRICE RETIREMENT<br> PLAN CLIENTS<br> PO BOX 78446<br> ATLANTA GEORGIA 30357<br>| **9.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> VIASAT INC 401K PROFIT SHARING PLAN<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **7.10%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **6.31%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFIT CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **5.71%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **15.84%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MAC & CO<br> ATTN MUTUAL FUND OPS<br> PO BOX 3198<br> 525 WILLIAM PENN PLACE<br> PITTSBURGH PA 15230-3198<br>| **13.86%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **9.91%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **9.50%** |

---

Part I - 69

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT AS TTEE AND/OR CUST<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **8.46%** |
| **JPMORGAN U.S. EQUITY FUND** | **JPMORGAN U.S. EQUITY FUND** | **JPMORGAN U.S. EQUITY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **28.03%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **19.43%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> REINVEST ACCOUNT<br> ATTN: MUTUAL FUNDS DEPT<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.38%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **5.64%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **31.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **17.59%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **9.83%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **9.56%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **7.30%** |

---

Part I - 70

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **6.55%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STIFEL NICOLAUS & CO INC<br> EXCLUSIVE BENEFIT OF CUSTOMERS<br> 501 N BROADWAY<br> SAINT LOUIS MO 63102-2188<br>| **5.12%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **33.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **11.04%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **10.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **8.88%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **6.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **5.95%** |
| **CLASS L SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **36.89%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **31.04%** |

---

Part I - 71

------

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **7.23%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STIFEL NICOLAUS & CO INC<br> EXCLUSIVE BENEFIT OF CUSTOMERS<br> 501 N BROADWAY<br> SAINT LOUIS MO 63102-2188<br>| **5.32%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **51.18%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; HARTFORD LIFE INSURANCE COMPANY<br> SEPARATE ACCOUNT<br> ATTN UIT OPERATIONS<br> PO BOX 2999<br> HARTFORD CT 06104-2999<br>| **16.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **10.14%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **47.25%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; THE HARTFORD<br> 1 HARTFORD PLZ<br> HARTFORD CT 06155-0001<br>| **13.40%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **8.47%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **6.45%** |

---

Part I - 72

------

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **14.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **12.03%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **11.89%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **10.40%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **8.63%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> RECORDKEEPING FOR EMPLOYEE <br> BENEFITS<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **8.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFIT CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **7.25%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> NEWPORT TRUST COMPANY<br> KINDERCARE EDUCATION LLC <br> NONQUALIFE<br> 35 IRON POINT CIR STE 300<br> FOLSOM CA 95630-8589<br>| **5.02%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK LIFE INS CO (USA)<br> ATTN JHRPS TRADING OPS ST6<br> 200 BERKELEY STREET<br> BOSTON MA 02116-5022<br>| **48.34%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **6.47%** |

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Part I - 73

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **13.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **10.46%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **10.21%** |
| **JPMORGAN U.S. GARP EQUITY FUND** | **JPMORGAN U.S. GARP EQUITY FUND** | **JPMORGAN U.S. GARP EQUITY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **23.69%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **13.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **13.17%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **9.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **6.29%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **27.59%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.94%** |

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Part I - 74

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **7.84%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **6.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **6.71%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **6.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.79%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **19.64%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **15.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **12.83%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **10.80%** |

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Part I - 75

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **8.31%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.39%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **6.25%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **7.79%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> PEARSON RETIREMENT PLAN 401K<br> 8525 E ORCHARD RD<br> GREENWOOD VLG CO 80111-5002<br>| **82.22%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **7.67%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR GROWTH FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **29.85%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR BALANCED FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **22.10%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR GROWTH AND <br> INCOME<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **17.57%** |

---

Part I - 76

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR CONSERVATIVE<br> GROWTH FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **9.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **6.72%** |
| **JPMORGAN U.S. LARGE CAP CORE PLUS FUND** | **JPMORGAN U.S. LARGE CAP CORE PLUS FUND** | **JPMORGAN U.S. LARGE CAP CORE PLUS FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **24.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.61%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **9.52%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **7.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.19%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.14%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **5.24%** |

---

Part I - 77

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **26.61%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **15.53%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **14.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **12.34%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **8.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **5.53%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **12.03%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **10.97%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **10.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **9.93%** |

---

Part I - 78

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **9.73%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **9.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **7.47%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **6.51%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS WM USA<br> OMNI ACCOUNT M/F<br> SPEC CDY A/C EBOC UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN NJ 07086-6761<br>| **6.19%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; LINCOLN RETIREMENT SERVICES<br> FBO ARMSTRONG AMBULANCE SERVICE<br> PO BOX 7876<br> FORT WAYNE IN 46801-7876<br>| **49.38%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **22.03%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MID ATLANTIC TRUST COMPANY FBO<br> KAYAL MEDICAL GROUP LLC 401(K) PROF<br> 1251 WATERFRONT PLACE, SUITE 525<br> PITTSBURGH PA 15222-4228<br>| **12.22%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **31.47%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **23.03%** |

---

Part I - 79

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **15.37%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **5.73%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **72.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **19.69%** |
| **JPMORGAN U.S. RESEARCH ENHANCED EQUITY FUND** | **JPMORGAN U.S. RESEARCH ENHANCED EQUITY FUND** | **JPMORGAN U.S. RESEARCH ENHANCED EQUITY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER ANNUITY INSURANCE<br> FBO FUTURE FUNDS II<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **24.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER LIFE & ANNUITY<br> FBO FUTURE FUNDS II<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **14.19%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **10.84%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.80%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **18.98%** |

---

Part I - 80

------

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **13.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **7.32%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **6.96%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **6.81%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PRINCIPAL TRUST CO FBO<br> CITY OF HOUSTON DEFERRED<br> COMPENSATION TRUST<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **5.63%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; KANSAS POSTSECONDARY EDUCATION<br> SAVINGS PROGRAM ATTN SSB&T CUST<br> 694 AGGRESSIVE<br> 4500 MAIN STREET<br> KANSAS CITY MO 64111-1816<br>| **5.56%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **24.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **10.96%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT 2030 <br> FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **6.35%** |

---

Part I - 81

------

---

| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **JPMORGAN U.S. SMALL COMPANY FUND** | **JPMORGAN U.S. SMALL COMPANY FUND** | **JPMORGAN U.S. SMALL COMPANY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **27.14%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **19.18%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **11.34%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.79%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **17.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **15.90%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **13.70%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **13.42%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **11.86%** |

---

Part I - 82

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **5.59%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **25.08%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER IRA ADVANTAGE<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **14.94%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **7.30%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **6.37%** |
| **CLASS L SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **61.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **11.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **11.13%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **80.76%** |

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Part I - 83

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **79.90%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UMB BANK - CUSTODIAN<br> SECURITY FINANCIAL RESOURCES<br> 1 SW SECURITY BENEFIT PL<br> TOPEKA KS 66636-1000<br>| **11.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **5.11%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **81.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **7.01%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; SEI PRIVATE TRUST COMPANY<br> ATTN MUTUAL FUNDS<br> 1 FREEDOM VALLEY DR<br> OAKS PA 19456-9989<br>| **77.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; THE TRUST COMPANY OF TENNESSEE RPS<br> 4823 OLD KINGSTON PIKE STE 100<br> KNOXVILLE TN 37919-6499<br>| **14.50%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **29.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **9.36%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **6.29%** |

---

Part I - 84

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **JPMORGAN U.S. SUSTAINABLE LEADERS FUND** | **JPMORGAN U.S. SUSTAINABLE LEADERS FUND** | **JPMORGAN U.S. SUSTAINABLE LEADERS FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **22.00%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; VOYA INSTITUTIONAL TRUST COMPANY<br> CUST VOYA INSTITUTIONAL TRUST<br> 1 ORANGE WAY # B3N<br> WINDSOR CT 06095-4773<br>| **20.63%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **16.13%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.53%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **7.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **6.83%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **24.04%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **15.29%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **14.95%** |

---

Part I - 85

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **10.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **7.38%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS WM USA<br> OMNI ACCOUNT M/F<br> SPEC CDY A/C EBOC UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN NJ 07086-6761<br>| **6.78%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **20.84%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **17.55%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **11.86%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **10.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **9.31%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **8.20%** |

---

Part I - 86

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **6.46%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **52.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NORTHERN TR CO CUST FBO ASUF SRIP<br> PO BOX 92956<br> CHICAGO IL 60675-2956<br>| **26.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MAC & CO<br> ATTN MUTUAL FUND OPERATIONS<br> 500 GRANT ST RM 151-1010<br> PITTSBURGH PA 15219-2502<br>| **7.42%** |
| **JPMORGAN U.S. VALUE FUND** | **JPMORGAN U.S. VALUE FUND** | **JPMORGAN U.S. VALUE FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **42.08%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **10.46%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.11%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **20.55%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **13.66%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **12.19%** |

---

Part I - 87

------

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.59%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **7.18%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **6.50%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **6.19%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.81%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **37.40%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **15.49%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **9.84%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **8.18%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.61%** |

---

Part I - 88

------

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **57.23%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> TOTAL MECHANICAL SERVICES INC 401<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **16.53%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> MAJOR GLOVE 401(K) P/S PLAN<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **7.59%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **6.54%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **62.93%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **13.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK CUST<br> FBO ADP ACCESS LARGE MARKET 401K<br> 1 LINCOLN ST<br> BOSTON MA 02111-2901<br>| **9.50%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **57.46%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> CHURCH AND CLERGY 403(B) PLAN<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **33.27%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FIIOC AS AGENT FOR<br> QUALIFIED EMPLOYEE BENEFIT<br> PLANS (401K) FINOPS-IC FUNDS<br> 100 MAGELLAN WAY # KW1C<br> COVINGTON KY 41015-1987<br>| **60.72%** |

---

Part I - 89

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **8.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **6.17%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; FIIOC AS AGENT FOR<br> FBO BANYAN AIR SERVICES, INC<br> 401(K) PLAN<br> 100 MAGELLAN WAY #KWIC<br> COVINGTON KY 41015-1987<br>| **5.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **5.45%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **24.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **17.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFIT CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **5.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT AS TTEE AND/OR CUST<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> ATTN NPIO TRADE DESK<br> OMNIBUS<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **5.68%** |
| **JPMORGAN VALUE ADVANTAGE FUND** | **JPMORGAN VALUE ADVANTAGE FUND** | **JPMORGAN VALUE ADVANTAGE FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **37.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **11.55%** |

---

Part I - 90

------

---

| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **9.91%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **6.60%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **26.51%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **15.30%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **10.25%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **9.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **7.94%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **6.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **5.88%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **35.32%** |

---

Part I - 91

------

---

| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **14.13%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **9.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **9.32%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **7.86%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **6.57%** |
| **CLASS L SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **27.50%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **16.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **13.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **13.24%** |

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Part I - 92

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **6.58%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; FIRST COMMUNITY TRUST NA<br> 3385 HILLCREST RD STE 100<br> DUBUQUE IA 52002-3900<br>| **5.31%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **18.91%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST, INC.<br> UMC HEALTH SYSTEM 403(B) PLAN<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **17.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> YAKIMA SCHOOL DISTRICT (WA) 403(B)<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **13.25%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST, INC.<br> KENSTON LOCAL SCHOOL DISTRICT (OH)<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **9.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST, INC.<br> GRAND BLANC COMM SCH (MI) 403B PLAN<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **9.41%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST, INC.<br> MONROE-WOODBURY CENTRAL SCHOOL <br> 403B<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **6.94%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> NEVIS PUBLIC SCHOOL ISD #308 403(B)<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **5.44%** |

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Part I - 93

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **24.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **17.97%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **6.51%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> SPECTRUM 401(K) PLAN<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **6.49%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **6.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST, INC.<br> AUBURN SCHOOL DISTRICT 403(B) PLAN<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **5.16%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN UNITED LIFE INSURANCE CO<br> GROUP RETIREMENT ACCOUNT<br> PO BOX 368<br> INDIANAPOLIS IN 46206-0368<br>| **42.30%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> GOLDSENTINEL 401K PLAN<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **38.61%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **10.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **8.23%** |

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Part I - 94

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; VOYA INSTITUTIONAL TRUST CO TTEE<br> FBO CORE MARKET 3 RETIREMENT PLANS<br> 30 BRAINTREE HILL OFFICE PARK<br> BRAINTREE MA 02184-8747<br>| **86.62%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **5.55%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **22.56%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **9.71%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MAC & CO<br> ATTN MUTUAL FUND OPS<br> PO BOX 3198<br> 525 WILLIAM PENN PLACE<br> PITTSBURGH PA 15230-3198<br>| **9.10%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT 2040 <br> FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **8.42%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT 2035 <br> FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **7.19%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT 2045 <br> FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **7.08%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT 2050 <br> FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **6.83%** |

---

Part I - 95

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **JPMORGAN EQUITY INCOME FUND** | **JPMORGAN EQUITY INCOME FUND** | **JPMORGAN EQUITY INCOME FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **33.72%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **14.97%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> REINVEST ACCOUNT<br> ATTN: MUTUAL FUNDS DEPT<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **7.02%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FLR<br> JACKSONVILLE FL 32246-6484<br>| **7.00%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **5.79%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.73%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **19.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **16.30%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **13.62%** |

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Part I - 96

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **7.27%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **6.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **6.05%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **5.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STIFEL NICOLAUS & CO INC<br> EXCLUSIVE BENEFIT OF CUSTOMERS<br> 501 N BROADWAY<br> SAINT LOUIS MO 63102-2188<br>| **5.17%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.04%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **13.66%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **12.73%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **10.09%** |

---

Part I - 97

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **9.72%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **8.75%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **8.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **7.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **6.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **5.73%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **5.20%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **56.04%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **6.73%** |

---

Part I - 98

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFIT CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **5.89%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **28.93%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **19.36%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **18.23%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **6.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **5.95%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; TIAA TRUST, N.A. AS CUST/TTEE<br> OF RETIREMENT PLANS<br> RECORDKEPT BY TIAA<br> ATTN: FUND OPERATIONS<br> 8500 ANDREW CARNEGIE BLVD<br> CHARLOTTE NC 28262-8500<br>| **18.09%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **17.23%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **11.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MINNESOTA LIFE INSURANCE COMPANY<br> 400 ROBERT STREET NORTH<br> SAINT PAUL MN 55101-2037<br>| **7.46%** |

---

Part I - 99

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK TRUST COMPANY LLC<br> 200 BERKELEY ST STE 7<br> BOSTON MA 02116-5038<br>| **5.59%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **22.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **19.26%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK LIFE INS CO (USA)<br> ATTN JHRPS TRADING OPS ST6<br> 200 BERKELEY STREET<br> BOSTON MA 02116-5022<br>| **8.58%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFIT CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **8.02%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO BANK NA TRUSTEE<br> C/O FASCORE LLC<br> FBO NEW JERSEY TRANSIT PLANS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **7.51%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **27.45%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **16.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **9.33%** |
| **JPMORGAN EQUITY INDEX FUND** | **JPMORGAN EQUITY INDEX FUND** | **JPMORGAN EQUITY INDEX FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **37.23%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **9.38%** |

---

Part I - 100

------

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.58%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **20.67%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **18.71%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **13.67%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **13.29%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.97%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MERRILL LYNCH PIERCE FENNER & SMITH<br> INC FOR THE SOLE BENEFIT OF<br> CUSTOMERS<br> 4800 DEER LAKE DR EAST<br> JACKSONVILLE FL 32246-6484<br>| **6.92%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **32.72%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **11.58%** |

---

Part I - 101

------

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.08%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> ADVANTAGECARE PHYSICIANS P C 401K<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **6.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.38%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; VRSCO<br> FBO VTC CUST TTEE FBO<br> STATE UNIV SYSTEM OF FLORIDA 403B<br> 2929 ALLEN PKWY STE A6-20<br> HOUSTON TX 77019-7100<br>| **5.22%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT BLEND <br> 2040<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **13.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT BLEND <br> 2035<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **13.52%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT BLEND <br> 2045<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **13.05%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT BLEND <br> 2050<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **11.01%** |

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Part I - 102

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT BLEND <br> 2030<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **10.29%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ATTN MUTUAL FUND OPERATIONS<br> MAC & CO<br> 500 GRANT ST RM 151-1010<br> PITTSBURGH PA 15219-2502<br>| **9.15%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT BLEND <br> 2055<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **6.72%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN SMARTRETIREMENT BLEND <br> 2025<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **5.93%** |
| **JPMORGAN LARGE CAP GROWTH FUND** | **JPMORGAN LARGE CAP GROWTH FUND** | **JPMORGAN LARGE CAP GROWTH FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **31.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **9.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK LIFE INS CO (USA)<br> ATTN JHRPS TRADING OPS ST6<br> 200 BERKELEY STREET<br> BOSTON MA 02116-5022<br>| **8.03%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **6.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.57%** |

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Part I - 103

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **6.54%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **25.94%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **16.59%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **11.30%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **8.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **7.02%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **6.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STIFEL NICOLAUS & CO INC<br> EXCLUSIVE BENEFIT OF CUSTOMERS<br> 501 N BROADWAY<br> SAINT LOUIS MO 63102-2188<br>| **5.07%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **5.03%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **18.29%** |

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Part I - 104

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **10.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **8.27%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **8.26%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **8.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **7.41%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **7.07%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS WM USA<br> OMNI ACCOUNT M/F<br> SPEC CDY A/C EBOC UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN NJ 07086-6761<br>| **6.03%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **5.53%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **5.51%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **5.03%** |

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Part I - 105

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; HARTFORD LIFE INSURANCE COMPANY<br> SEPARATE ACCOUNT<br> ATTN UIT OPERATIONS<br> PO BOX 2999<br> HARTFORD CT 06104-2999<br>| **12.31%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **9.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **7.29%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **19.83%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> AMERITAS LIFE INSURANCE CORP<br> FBO SEPARATE ACCOUNT G<br> ATTN SEPARATE ACCOUNT UNIT<br> 5900 O ST<br> LINCOLN NE 68510-2234<br>| **15.13%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **7.61%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> AMERITAS LIFE INSURANCE CORP<br> FBO SEPARATE ACCOUNT G-2<br> ATTN SEPARATE ACCOUNT UNIT<br> 5900 O ST<br> LINCOLN NE 68510-2234<br>| **5.03%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **11.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK TRUST COMPANY LLC<br> 200 BERKELEY ST STE 7<br> BOSTON MA 02116-5038<br>| **10.75%** |

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Part I - 106

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **8.22%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FIIOC AS AGENT FOR<br> QUALIFIED EMPLOYEE BENEFIT<br> PLANS (401K) FINOPS-IC FUNDS<br> 100 MAGELLAN WAY # KW1C<br> COVINGTON KY 41015-1987<br>| **6.98%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; VOYA INSTITUTIONAL TRUST COMPANY AS<br> TRUSTEE OR CUSTODIAN FOR CORE <br> MARKE<br> T RETIREMENT PLANS<br> 30 BRAINTREE HILL OFFICE PARK<br> BRAINTREE MA 02184-8747<br>| **6.27%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **5.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CITY OF ARLINGTON (K)<br> C/O MISSIONSQUARE RETIREMENT<br> 101 S. MESQUITE ST<br> SUITE 790<br> ARLINGTON TX 76010-1117<br>| **5.05%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **19.59%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> DISCOUNT TIRE AMERICAS TIRE RETIREM<br> PLAN<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **17.96%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AIG RETPLAN SERVICES COMPANY<br> FBO VTC CUST TTEE FBO<br> CENTRAL GA RETIRE SAV<br> 2929 ALLEN PKWY STE A6-20<br> HOUSTON TX 77019-2155<br>| **6.64%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> AAAA BENEFITS INC<br> 307 W TREMONT AVE STE 200<br> CHARLOTTE NC 28203-4902<br>| **5.50%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **21.61%** |

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Part I - 107

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **8.98%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **5.91%** |
| **JPMORGAN LARGE CAP VALUE FUND** | **JPMORGAN LARGE CAP VALUE FUND** | **JPMORGAN LARGE CAP VALUE FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **21.06%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **18.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **7.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **6.92%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **6.41%** |

---

Part I - 108

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **25.10%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **24.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **11.26%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **9.45%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **8.31%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **5.78%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **32.19%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **21.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **8.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **8.24%** |

---

Part I - 109

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **7.55%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **43.75%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> NATIONAL SLOVAK SOCIETY 401(K) PLAN<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **10.95%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> VECOPLAN LLC 401(K) PLAN<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **5.07%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> STATE STREET BANK TRUST CO<br> TTEE VARIOUS RETIREMENT PLANS<br> 440 MAMARONECK AVE<br> HARRISON NY 10528-2418<br>| **48.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **18.85%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> NEWPORT TRUST COMPANY<br> HERITAGE CHRISTIAN SERVICES INC R<br> 35 IRON POINT CIR STE 300<br> FOLSOM CA 95630-8589<br>| **15.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MID ATLANTIC TRUST COMPANY FBO<br> ROBERT MCCABE COMPANY INC 401(K) PR<br> 1251 WATERFRONT PL STE 525<br> PITTSBURGH PA 15222-4228<br>| **6.27%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **49.62%** |

---

Part I - 110

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **34.56%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **7.27%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> BORG EQUIPMENT & SUPPLY CO INC 4<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **7.02%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST CO FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **29.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **15.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK TRUST COMPANY LLC<br> 200 BERKELEY ST STE 7<br> BOSTON MA 02116-5038<br>| **9.49%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **7.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; FIIOC AS AGENT FOR FBO<br> HOLLINGSWORTH MANAGEMENT <br> SERVICES,<br> L.LC. 401(K) PLAN<br> 100 MAGELLAN WAY #KWIC<br> COVINGTON KY 41015-1987<br>| **7.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; FIDELITY INVESTMENTS INST<br> OPERATIONS CO INC AS AGENT FOR FBO<br> MOLAM SAVINGS AND RETIREMENT PLAN<br> 100 MAGELLAN WAY #KWIC<br> COVINGTON KY 41015-1999<br>| **6.40%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **6.33%** |

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Part I - 111

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR GROWTH FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **24.63%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR GROWTH AND <br> INCOME<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **14.21%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR BALANCED FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **9.18%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **8.95%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **5.47%** |
| **JPMORGAN MID CAP GROWTH FUND** | **JPMORGAN MID CAP GROWTH FUND** | **JPMORGAN MID CAP GROWTH FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **27.69%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **14.32%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.46%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **6.28%** |

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Part I - 112

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **24.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **12.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **12.15%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **10.37%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RBC CAPITAL MARKETS LLC<br> MUTUAL FUND OMNIBUS PROCESSING<br> OMNIBUS<br> ATTN MUTUAL FUND OPS MANAGER<br> 250 NICOLLET MALL SUITE 1400<br> MINNEAPOLIS MN 55401-7582<br>| **6.18%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **6.05%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **24.56%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **11.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.24%** |

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Part I - 113

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR THE<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **7.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **6.81%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **6.18%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **23.41%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; THE HARTFORD<br> 1 HARTFORD PLZ<br> HARTFORD CT 06155-0001<br>| **20.98%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **9.45%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; UMB BANK - CUSTODIAN<br> SECURITY FINANCIAL RESOURCES<br> 1 SW SECURITY BENEFIT PL<br> TOPEKA KS 66636-1000<br>| **24.13%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; THE HARTFORD<br> 1 HARTFORD PLZ<br> HARTFORD CT 06155-0001<br>| **16.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **8.39%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **5.64%** |

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Part I - 114

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB TRUST BANK TRUST<br> COLSA CORPORATION 401(K) PROFIT SHA<br> ARING PLAN 106135<br> 2423 E LINCOLN DR<br> PHOENIX AZ 85016-1215<br>| **22.67%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **12.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **12.00%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN UNITED LIFE INSURANCE CO<br> UNIT INVESTMENT TRUST<br> PO BOX 368<br> INDIANAPOLIS IN 46206-0368<br>| **9.75%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **9.67%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **7.36%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> THE AAGARD GROUP LLC 401(K) PS PL<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **5.24%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO BANK NA TRUSTEE<br> C/O FASCORE LLC<br> FBO NEW JERSEY TRANSIT PLANS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **25.45%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **18.36%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STANDARD INSURANCE COMPANY<br> SEPARATE ACCOUNT A P11D<br> 1100 SW 6TH AVE<br> PORTLAND OR 97204-1093<br>| **14.10%** |

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Part I - 115

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **6.95%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **18.10%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **14.64%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **6.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT AS TTEE AND/OR CUST<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **6.64%** |
| **JPMORGAN SMALL CAP GROWTH FUND** | **JPMORGAN SMALL CAP GROWTH FUND** | **JPMORGAN SMALL CAP GROWTH FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **36.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **8.43%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **7.63%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **5.83%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCT FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **5.30%** |

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Part I - 116

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **29.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **16.53%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **11.06%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **7.49%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **6.04%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **5.94%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **71.25%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **7.68%** |
| **CLASS L SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> TRINET 401K PLAN<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **22.88%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **15.33%** |

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Part I - 117

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **13.89%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **12.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **10.23%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **8.95%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **8.15%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; HARTFORD LIFE INSURANCE COMPANY<br> SEPARATE ACCOUNT<br> ATTN UIT OPERATIONS<br> PO BOX 2999<br> HARTFORD CT 06104-2999<br>| **58.45%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **18.04%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT GRAND FATHERED <br> PLAN<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **31.17%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> RECORDKEEPING FOR VARIOUS BENEFIT P<br> 8525 E ORCHARD RD<br> C/O MUTUAL FUND TRADING<br> GREENWOOD VILLAGE CO 80111-5002<br>| **11.84%** |

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Part I - 118

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **11.18%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LINCOLN RETIREMENT SERVICES <br> COMPANY<br> FBO LOGIX COMM LP 401K PLAN<br> PO BOX 7876<br> FORT WAYNE IN 46801-7876<br>| **8.37%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY CUST FBO<br> NORTHWEST PLAN SERVICES INC<br> PO BOX 52129<br> PHOENIX AZ 85072-2129<br>| **7.34%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; FIDELITY INVESTMENTS INST<br> OPERATIONS CO INC AS AGENT FOR FBO<br> IERUS TECHNOLOGIES, INC. RETIREMENT<br> PLAN<br> 100 MAGELLAN WAY #KWIC<br> COVINGTON KY 41015-1999<br>| **7.17%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **80.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FIIOC AS AGENT FOR<br> QUALIFIED EMPLOYEE BENEFIT<br> PLANS (401K) FINOPS-IC FUNDS<br> 100 MAGELLAN WAY # KW1C<br> COVINGTON KY 41015-1987<br>| **6.74%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK TRUST COMPANY LLC<br> 200 BERKELEY ST STE 7<br> BOSTON MA 02116-5038<br>| **26.42%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY TRUSTEE FBO<br> VANIR GROUP OF COMPANIES INC.<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **20.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K - FG<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **8.82%** |

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Part I - 119

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FIIOC AS AGENT FOR<br> QUALIFIED EMPLOYEE BENEFIT<br> PLANS (401K) FINOPS-IC FUNDS<br> 100 MAGELLAN WAY # KW1C<br> COVINGTON KY 41015-1987<br>| **8.62%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; VANGUARD FIDUCIARY TRUST CO<br> JP MORGAN FUNDS<br> ATTN INVESTMENT SERVICES<br> PO BOX 2600<br> VALLEY FORGE PA 19482-2600<br>| **5.90%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **19.89%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **10.93%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **7.91%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **7.91%** |
| **JPMORGAN SMALL CAP VALUE FUND** | **JPMORGAN SMALL CAP VALUE FUND** | **JPMORGAN SMALL CAP VALUE FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **30.30%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **6.00%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **18.17%** |

---

Part I - 120

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **16.14%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **13.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **10.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **8.84%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STIFEL NICOLAUS & CO INC<br> EXCLUSIVE BENEFIT OF CUSTOMERS<br> 501 N BROADWAY<br> SAINT LOUIS MO 63102-2188<br>| **6.52%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **5.50%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; C/O ICMA RETIREMENT CORPORATION<br> VANTAGETRUST - UNITIZED<br> 777 N CAPITOL ST NE<br> WASHINGTON DC 20002-4239<br>| **17.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **16.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY A/C FBO CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN STREET<br> SAN FRANCISCO CA 94105-1901<br>| **9.11%** |

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Part I - 121

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **7.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **6.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> GREAT WEST IRA ADVANTAGE<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **5.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **5.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPLOYEE BENEFIT CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **5.16%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; HARTFORD LIFE INSURANCE COMPANY<br> SEPARATE ACCOUNT<br> ATTN UIT OPERATIONS<br> PO BOX 2999<br> HARTFORD CT 06104-2999<br>| **19.42%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **16.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **9.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MASSACHUSETTS MUTUAL LIFE <br> INSURANCE<br> 1295 STATE STREET MIP M200-INVST<br> SPRINGFIELD MA 01111-0001<br>| **8.79%** |

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Part I - 122

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **66.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UMB BANK - CUSTODIAN<br> SECURITY FINANCIAL RESOURCES<br> 1 SW SECURITY BENEFIT PL<br> TOPEKA KS 66636-1000<br>| **6.75%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RELIANCE TRUST CO FBO<br> MASSMUTUAL VARIOUS NON QUALIFIED R<br> PO BOX 570788<br> ATLANTA GA 30357-3114<br>| **51.69%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PRINCIPAL TRUST COMPANY<br> ATTN PLAN TRUSTEE<br> FBO ACA GROUP DEF COMP PLAN<br> 1013 CENTRE RD<br> WILMINGTON DE 19805-1265<br>| **43.16%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **49.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; VANGUARD FIDUCIARY TRUST CO<br> JP MORGAN FUNDS<br> ATTN INVESTMENT SERVICES<br> PO BOX 2600<br> VALLEY FORGE PA 19482-2600<br>| **17.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE LIFE INSURANCE CO<br> NACO<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **6.89%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> RECORDKEEPING FOR EMPLOYEE <br> BENEFITS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **11.23%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **8.12%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> JPMORGAN INVESTOR GROWTH FUND<br> ATTN CLIENT SERVICES<br> 500 STANTON CHRISTIANA RD DE3-3650<br> NEWARK DE 19713-2105<br>| **7.99%** |

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Part I - 123

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; TIAA TRUST, N.A. AS CUST/TTEE<br> OF RETIREMENT PLANS<br> RECORDKEPT BY TIAA<br> ATTN: FUND OPERATIONS<br> 8500 ANDREW CARNEGIE BLVD<br> CHARLOTTE NC 28262-8500<br>| **5.06%** |
| **JPMORGAN SMID CAP EQUITY FUND** | **JPMORGAN SMID CAP EQUITY FUND** | **JPMORGAN SMID CAP EQUITY FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **52.33%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **40.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **19.98%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **11.15%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **5.15%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK LIFE INS CO (USA)<br> ATTN JHRPS TRADING OPS ST6<br> 200 BERKELEY STREET<br> BOSTON MA 02116-5022<br>| **26.67%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **19.49%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **9.30%** |

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Part I - 124

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER IRA ADVANTAGE<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD 2T2<br> GREENWOOD VILLAGE CO 80111-5002<br>| **6.86%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **6.00%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **34.56%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **13.75%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **13.36%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> NORTH AMERICAN BAPTIST CONF 403(B)<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **10.32%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NFS LLC FEBO<br> FIIOC AS AGENT FOR<br> QUALIFIED EMPLOYEE BENEFIT<br> PLANS (401K) FINOPS-IC FUNDS<br> 100 MAGELLAN WAY # KW1C<br> COVINGTON KY 41015-1987<br>| **6.31%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> PLYMOUTH-CANTON COMM SCHOOLS <br> 403(B)<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **5.97%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **100.00%** |

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Part I - 125

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MONTANA PUBLIC EES RTMT BOARD TTEE<br> FBO STATE OF MONTANA DCP<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **26.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **22.26%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MONTANA PUBLIC RET BOARD TTEE<br> FBO STATE OF MONTANA PUBLIC EMP DCP<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **16.09%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **12.14%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMIM AS AGENT FOR\*<br> THE TRUSTEES OF COLUMBIA <br> UNIVERSITY<br> IN THE CITY OF NEW YORK<br> ATTN CLIENT SERVICES<br> 1111 POLARIS PKWY OHI-0084<br> COLUMBUS OH 43240-2031<br>| **8.06%** |
| **JPMORGAN EQUITY PREMIUM INCOME FUND** | **JPMORGAN EQUITY PREMIUM INCOME FUND** | **JPMORGAN EQUITY PREMIUM INCOME FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RBC CAPITAL MARKETS LLC<br> MUTUAL FUND OMNIBUS PROCESSING<br> OMNIBUS<br> ATTN MUTUAL FUND OPS MANAGER<br> 250 NICOLLET MALL SUITE 1400<br> MINNEAPOLIS MN 55401-7582<br>| **26.27%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **11.46%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **10.89%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **9.77%** |

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Part I - 126

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **9.56%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.76%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **5.55%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **18.47%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **17.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **15.93%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STIFEL NICOLAUS & CO INC<br> EXCLUSIVE BENEFIT OF CUSTOMERS<br> 501 N BROADWAY<br> SAINT LOUIS MO 63102-2188<br>| **12.98%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **12.72%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **7.49%** |

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Part I - 127

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; RBC CAPITAL MARKETS LLC<br> MUTUAL FUND OMNIBUS PROCESSING<br> OMNIBUS<br> ATTN MUTUAL FUND OPS MANAGER<br> 250 NICOLLET MALL SUITE 1400<br> MINNEAPOLIS MN 55401-7582<br>| **6.31%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **35.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **29.63%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **11.71%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **7.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **5.36%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **27.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY CUST FBO<br> M3 INVESTMENT SERVICES<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **26.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> GROSSE POINTE (MI) 457<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **24.09%** |

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Part I - 128

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> ROMEO COMMUNITY SCHOOLS 457 PLAN<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **13.47%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY AS AGENT FOR<br> ADVISOR TRUST INC<br> GROSSE POINTE PUB SCH (MI)<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **7.96%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **89.13%** |
| **JPMORGAN HEDGED EQUITY 2 FUND** | **JPMORGAN HEDGED EQUITY 2 FUND** | **JPMORGAN HEDGED EQUITY 2 FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **34.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **20.44%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **8.74%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **8.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **6.04%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **5.78%** |

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Part I - 129

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.05%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **43.02%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **10.93%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **9.45%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **7.41%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **7.01%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **5.90%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **5.79%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **20.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **14.81%** |

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Part I - 130

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **14.49%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **10.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **9.66%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **8.40%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **5.43%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **33.87%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **30.64%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; D A DAVIDSON & CO<br> SUSAN LYON TTEE<br> 8 3RD ST N<br> GREAT FALLS MT 59401-3155<br>| **20.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY TRUSTEE FBO<br> MOORE FINANCIAL ADVISORS, LTD 401(<br> 717 17TH ST STE 1300<br> DENVER CO 80202-3304<br>| **5.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; D A DAVIDSON & CO<br> MARK DICKEY<br> 8 3RD ST N<br> GREAT FALLS MT 59401-3155<br>| **5.26%** |

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; J.P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **85.11%** |
| **JPMORGAN HEDGED EQUITY 3 FUND** | **JPMORGAN HEDGED EQUITY 3 FUND** | **JPMORGAN HEDGED EQUITY 3 FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **33.09%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **13.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **10.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **8.46%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **7.93%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.59%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **37.58%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **12.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **10.76%** |

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Part I - 132

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **10.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **8.57%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **5.52%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **5.51%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **18.45%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **14.94%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **14.91%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **11.72%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **11.04%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **10.00%** |

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Part I - 133

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; JP MORGAN INVESTMENT MGMT\*<br> ATTN LOREN STRIFE OH1-0185<br> 1111 POLARIS PKWY<br> COLUMBUS OH 43240-2031<br>| **94.76%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **5.24%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; J.P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **72.90%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; C/O GWP US ADVISORS<br> SEI PRIVATE TRUST COMPANY<br> 1 FREEDOM VALLEY DR<br> OAKS PA 19456-9989<br>| **14.77%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **6.16%** |
| **JPMORGAN GROWTH ADVANTAGE FUND** | **JPMORGAN GROWTH ADVANTAGE FUND** | **JPMORGAN GROWTH ADVANTAGE FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **36.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **18.95%** |
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **27.16%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **14.35%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **11.35%** |

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Part I - 134

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **7.14%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **6.70%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **6.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STIFEL NICOLAUS & CO INC<br> EXCLUSIVE BENEFIT OF CUSTOMERS<br> 501 N BROADWAY<br> SAINT LOUIS MO 63102-2188<br>| **5.10%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **14.33%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AMERICAN ENTERPRISE INVESTMENT SVC<br> 707 2ND AVE S<br> MINNEAPOLIS MN 55402-2405<br>| **12.43%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **11.54%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **8.56%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **7.62%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RAYMOND JAMES<br> OMNIBUS FOR MUTUAL FUNDS<br> ATTN COURTNEY WALLER<br> 880 CARILLON PKWY<br> ST PETERSBURG FL 33716-1100<br>| **6.63%** |

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Part I - 135

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **6.53%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **6.19%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MEETA SHAH & SUBHASH SHAH TTEE FBO<br> NEUROLOGY CENTER OF WICHITA 401K PS<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **13.82%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CAPITAL BANK & TRUST COMPANY TTEE F<br> MCHALE LANDSCAPE DESIGN 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **10.69%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ASCENSUS TRUST COMPANY FBO<br> ACE HARDWARE OF CHATTANOOGA 401(K)<br> PO BOX 10758<br> FARGO ND 58106-0758<br>| **9.68%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CAPITAL BANK & TRUST CO TRUSTEE FBO<br> VESTIL MANUFACTURING CORP <br> RETIREMNT<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **7.91%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **31.60%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **29.75%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK CUST<br> FBO ADP ACCESS LARGE MARKET 401K<br> 1 LINCOLN ST<br> BOSTON MA 02111-2901<br>| **7.70%** |

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Part I - 136

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FIIOC AS AGENT FOR<br> QUALIFIED EMPLOYEE BENEFIT<br> PLANS (401K) FINOPS-IC FUNDS<br> 100 MAGELLAN WAY # KW1C<br> COVINGTON KY 41015-1987<br>| **6.65%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PEPSI OF WORCESTER & WINDHAM TTEE F<br> PEPSI OF WORCESTER & PEPSI WINDHAM<br> C/O FASCORE LLC<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **6.30%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; DCGT AS TTEE AND/OR CUST<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> ATTN NPIO TRADE DESK<br> OMNIBUS<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **68.48%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMPLOYEE BENEFITS CLIENTS 401K<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **20.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST FBO<br> EMPOWER BENEFIT PLANS<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **6.48%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONWIDE TRUST COMPANY FSB<br> C/O IPO PORTFOLIO ACCOUNTING<br> PO BOX 182029<br> COLUMBUS OH 43218-2029<br>| **28.66%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **24.76%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> RECORDKEEPING FOR LARGE BENEFIT PL<br> 8525 E ORCHARD RD<br> GREENWOOD VLG CO 80111-5002<br>| **7.30%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **37.25%** |

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Part I - 137

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **16.28%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MAC & CO<br> ATTN MUTUAL FUND OPS<br> PO BOX 3198<br> 525 WILLIAM PENN PLACE<br> PITTSBURGH PA 15230-3198<br>| **7.70%** |
| **JPMORGAN MID CAP VALUE FUND** | **JPMORGAN MID CAP VALUE FUND** | **JPMORGAN MID CAP VALUE FUND** |
| **CLASS A SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **19.26%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **11.37%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **8.91%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. P. MORGAN SECURITIES LLC\*<br> FOR EXCLUSIVE BENEFIT OF CUSTOMERS<br> 4 CHASE METROTECH CTR<br> BROOKLYN NY 11245-0003<br>| **7.00%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **6.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> 499 WASHINGTON BLVD<br> ATTN MUTUAL FUNDS DEPT 4TH FLOOR<br> JERSEY CITY NJ 07310-1995<br>| **5.80%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **5.39%** |

---

Part I - 138

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS C SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **25.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **18.24%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **16.89%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS WM USA<br> OMNI ACCOUNT M/F<br> SPEC CDY A/C EBOC UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN NJ 07086-6761<br>| **8.56%** |
| **CLASS I SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; MORGAN STANLEY SMITH BARNEY LLC<br> FOR THE EXCLUSIVE BENE OF ITS CUST<br> 1 NEW YORK PLZ FL 12<br> NEW YORK NY 10004-1965<br>| **24.20%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS WM USA<br> OMNI ACCOUNT M/F<br> SPEC CDY A/C EBOC UBSFSI<br> 1000 HARBOR BLVD<br> WEEHAWKEN NJ 07086-6761<br>| **19.32%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **16.11%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; LPL FINANCIAL<br> OMNIBUS CUSTOMER ACCOUNT<br> ATTN MUTUAL FUND TRADING<br> 4707 EXECUTIVE DR<br> SAN DIEGO CA 92121-3091<br>| **6.81%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PERSHING LLC<br> P.O. BOX 2052<br> JERSEY CITY NJ 07303-2052<br>| **5.50%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR EAST 2ND FL<br> JACKSONVILLE FL 32246-6484<br>| **5.42%** |

---

Part I - 139

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
| **CLASS L SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> FOR THE EXCLUSIVE BENEFIT OF OUR<br> CUSTOMERS<br> ATTN MUTUAL FUNDS DEPT 4TH FL<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **32.49%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN: MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **15.58%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WELLS FARGO CLEARING SERVICES LLC<br> SPECIAL CUSTODY ACCT FOR THE<br> EXCLUSIVE BENEFIT OF CUSTOMER<br> 2801 MARKET STREET<br> ST LOUIS MO 63103-2523<br>| **5.72%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DCGT TRUSTEE & OR CUSTODIAN<br> FBO PLIC VARIOUS RETIREMENT PLANS<br> OMNIBUS<br> ATTN NPIO TRADE DESK<br> 711 HIGH ST<br> DES MOINES IA 50392-0001<br>| **5.35%** |
| **CLASS R2 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **71.10%** |
| **CLASS R3 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; STATE STREET BANK & TRUST AS<br> TRUSTEE AND/OR CUSTODIAN<br> FBO ADP ACCESS PRODUCT<br> PO BOX 5501<br> BOSTON MA 02206-5501<br>| **65.85%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EMPOWER TRUST COMPANY LLC TTEE F<br> EMBLEMHEALTH SERVICES COMPANY LLC <br> 4<br> 8515 E ORCHARD RD # 2T2<br> GREENWOOD VLG CO 80111-5002<br>| **16.58%** |
| **CLASS R4 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; TIAA TRUST, N.A. AS CUST/TTEE<br> OF RETIREMENT PLANS<br> RECORDKEPT BY TIAA<br> ATTN: FUND OPERATIONS<br> 8500 ANDREW CARNEGIE BLVD<br> CHARLOTTE NC 28262-8500<br>| **42.20%** |

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Part I - 140

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK TRUST COMPANY LLC<br> 200 BERKELEY ST STE 7<br> BOSTON MA 02116-5038<br>| **15.32%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **12.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; VOYA INSTITUTIONAL TRUST COMPANY<br> CUST VOYA INSTITUTIONAL TRUST<br> 1 ORANGE WAY # B3N<br> WINDSOR CT 06095-4773<br>| **7.82%** |
| **CLASS R5 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> AAAA BENEFITS INC<br> 307 W TREMONT AVE STE 200<br> CHARLOTTE NC 28203-4902<br>| **40.13%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JOHN HANCOCK TRUST COMPANY LLC<br> 200 BERKELEY ST STE 7<br> BOSTON MA 02116-5038<br>| **16.04%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **14.02%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MATRIX TRUST COMPANY CUST FBO<br> NORTHWEST PLAN SERVICES INC<br> PO BOX 52129<br> PHOENIX AZ 85072-2129<br>| **13.60%** |
| **CLASS R6 SHARES** | &nbsp;&nbsp;&nbsp;&nbsp; EDWARD D JONES & CO<br> FOR THE BENEFIT OF CUSTOMERS<br> 12555 MANCHESTER RD<br> SAINT LOUIS MO 63131-3710<br>| **29.07%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NATIONAL FINANCIAL SERVICES LLC<br> 499 WASHINGTON BLVD<br> JERSEY CITY NJ 07310-1995<br>| **13.78%** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MLPF&S FOR THE SOLE BENEFIT OF<br> ITS CUSTOMERS<br> ATTN FUND ADMINISTRATION<br> 4800 DEER LAKE DR E FL 3<br> JACKSONVILLE FL 32246-6484<br>| **7.06%** |

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Part I - 141

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| | | |
|:---|:---|:---|
| **Name of Fund** | **Name and Address of Shareholder** | &nbsp;&nbsp;&nbsp;&nbsp; **Percentage**<br> **Held**<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHARLES SCHWAB & CO INC<br> SPECIAL CUSTODY ACCOUNT FOR<br> BENEFIT OF CUSTOMERS<br> ATTN MUTUAL FUNDS<br> 211 MAIN ST<br> SAN FRANCISCO CA 94105-1901<br>| **5.41%** |

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\*

The shareholder of record is a subsidiary or affiliate of JPMorgan Chase & Co. (a "JPMorgan Affiliate"). Typically, the shares are held on behalf of underlying accounts for which the JPMorgan Affiliate may have voting or investment power. To the extent that JPMorgan Affiliates own 25% or more of a class of shares of the Fund, JPMorgan Chase & Co. may be deemed to be a "controlling person" of such shares under the 1940 Act.

Part I - 142

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