# EDGAR Filing Document

**Accession Number:** 0000763852
**File Stem:** 0002071691-25-007747
**Filing Date:** 2025-11
**Character Count:** 33595
**Document Hash:** f28ff09d5028aa5c3d1c92b3df428352
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007747.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002071691-25-007747

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMORGAN TRUST II
- **CENTRAL INDEX KEY:** 0000763852

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04236
- **FILM NUMBER:** 251528334

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ONE GROUP MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20000721

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ONE GROUP
- **DATE OF NAME CHANGE:** 19931105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HELMSMAN FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### JPMorgan Investor Growth & Income Fund (Series ID: S000003902)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010906 | Class I      | ONGFX           |
| C000010907 | Class A      | ONGIX           |
| C000010909 | Class C      | ONECX           |
| C000191460 | Class R6     | JFBUX           |

## Nport-Ex

**JPMorgan Investor Growth & Income Fund**

**Schedule of Portfolio Investments as of September 30, 2025**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2025. |

---

------

**JPMorgan Investor Growth & Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE** <br>**($000)**<br>|
| **Investment Companies — 86.1%** | **Investment Companies — 86.1%** | **Investment Companies — 86.1%** |
| **Fixed Income — 31.9%** | **Fixed Income — 31.9%** | **Fixed Income — 31.9%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Core Bond Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 79440 | &nbsp;&nbsp;&nbsp;&nbsp; 829355 |
| &nbsp;&nbsp;&nbsp; JPMorgan Core Plus Bond Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 50431 | &nbsp;&nbsp;&nbsp;&nbsp; 369158 |
| &nbsp;&nbsp;&nbsp; JPMorgan Emerging Markets Debt Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 3898 | &nbsp;&nbsp;&nbsp;&nbsp; 25453 |
| &nbsp;&nbsp;&nbsp; JPMorgan High Yield Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 27005 | &nbsp;&nbsp;&nbsp;&nbsp; 177965 |
| &nbsp;&nbsp;&nbsp; JPMorgan Income Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 24990 | &nbsp;&nbsp;&nbsp;&nbsp; 215166 |
| &nbsp;&nbsp;&nbsp; JPMorgan Short Duration Core Plus Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5241 | &nbsp;&nbsp;&nbsp;&nbsp; 49523 |
| &nbsp;&nbsp;&nbsp; Total Fixed Income |  | &nbsp;&nbsp;&nbsp;&nbsp; 1666620 |
| **International Equity — 8.0%** | **International Equity — 8.0%** | **International Equity — 8.0%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Emerging Markets Equity Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2270 | &nbsp;&nbsp;&nbsp;&nbsp; 91677 |
| &nbsp;&nbsp;&nbsp; JPMorgan Emerging Markets Research Enhanced Equity Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4060 | &nbsp;&nbsp;&nbsp;&nbsp; 84377 |
| &nbsp;&nbsp;&nbsp; JPMorgan Europe Dynamic Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1730 | &nbsp;&nbsp;&nbsp;&nbsp; 70185 |
| &nbsp;&nbsp;&nbsp; JPMorgan International Equity Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4244 | &nbsp;&nbsp;&nbsp;&nbsp; 97650 |
| &nbsp;&nbsp;&nbsp; JPMorgan International Focus Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2396 | &nbsp;&nbsp;&nbsp;&nbsp; 72361 |
| &nbsp;&nbsp;&nbsp; Total International Equity |  | &nbsp;&nbsp;&nbsp;&nbsp; 416250 |
| **U.S. Equity — 46.2%** | **U.S. Equity — 46.2%** | **U.S. Equity — 46.2%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Equity Income Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6367 | &nbsp;&nbsp;&nbsp;&nbsp; 168479 |
| &nbsp;&nbsp;&nbsp; JPMorgan Large Cap Growth Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5513 | &nbsp;&nbsp;&nbsp;&nbsp; 537813 |
| &nbsp;&nbsp;&nbsp; JPMorgan Large Cap Value Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 16042 | &nbsp;&nbsp;&nbsp;&nbsp; 348905 |
| &nbsp;&nbsp;&nbsp; JPMorgan Mid Cap Growth Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1401 | &nbsp;&nbsp;&nbsp;&nbsp; 81240 |
| &nbsp;&nbsp;&nbsp; JPMorgan Small Cap Equity Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 485 | &nbsp;&nbsp;&nbsp;&nbsp; 25798 |
| &nbsp;&nbsp;&nbsp; JPMorgan Small Cap Value Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1196 | &nbsp;&nbsp;&nbsp;&nbsp; 35049 |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Equity Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 17836 | &nbsp;&nbsp;&nbsp;&nbsp; 506018 |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. GARP Equity Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1982 | &nbsp;&nbsp;&nbsp;&nbsp; 197180 |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Research Enhanced Equity Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6885 | &nbsp;&nbsp;&nbsp;&nbsp; 337293 |
| &nbsp;&nbsp;&nbsp; JPMorgan Value Advantage Fund Class R6 Shares (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4372 | &nbsp;&nbsp;&nbsp;&nbsp; 175222 |
| &nbsp;&nbsp;&nbsp; Total U.S. Equity |  | &nbsp;&nbsp;&nbsp;&nbsp; 2412997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment Companies <br>(Cost $2,997,102)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 4495867 |
| **Exchange-Traded Funds — 13.0%** | **Exchange-Traded Funds — 13.0%** | **Exchange-Traded Funds — 13.0%** |
| **Fixed Income — 0.9%** | **Fixed Income — 0.9%** | **Fixed Income — 0.9%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Limited Duration Bond ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 918 | &nbsp;&nbsp;&nbsp;&nbsp; 48178 |
| **International Equity — 8.6%** | **International Equity — 8.6%** | **International Equity — 8.6%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Global Select Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2224 | &nbsp;&nbsp;&nbsp;&nbsp; 150747 |
| &nbsp;&nbsp;&nbsp; JPMorgan International Research Enhanced Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4019 | &nbsp;&nbsp;&nbsp;&nbsp; 295519 |
| &nbsp;&nbsp;&nbsp; Total International Equity |  | &nbsp;&nbsp;&nbsp;&nbsp; 446266 |
| **U.S. Equity — 3.5%** | **U.S. Equity — 3.5%** | **U.S. Equity — 3.5%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Small & Mid Cap Enhanced Equity ETF (a) | &nbsp;&nbsp;&nbsp;&nbsp; 2896 | &nbsp;&nbsp;&nbsp;&nbsp; 183683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Exchange-Traded Funds <br>(Cost $485,322)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 678127 |

---

------

**JPMorgan Investor Growth & Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | &nbsp;&nbsp;&nbsp; **SHARES**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)**<br>| &nbsp;&nbsp;&nbsp; **VALUE**<br> **($000)**<br>|
| **Short-Term Investments — 1.0%** | **Short-Term Investments — 1.0%** | **Short-Term Investments — 1.0%** |
| **Investment Companies — 1.0%** | **Investment Companies — 1.0%** | **Investment Companies — 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.09% (a) (b) <br>(Cost $54,799)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 54799 | &nbsp;&nbsp;&nbsp;&nbsp; 54799 |
| **Total Investments — 100.1%** <br>**(Cost $3,537,223)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **5228793** |
| **Liabilities in Excess of Other Assets — (0.1)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(4659)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **5224134** |

---

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

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

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ETF | Exchange Traded Fund |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Investment in an affiliated fund, which is registered under the Investment Company
 Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The rate shown is the current yield as of September 30, 2025.

Detailed information about investment portfolios of the Underlying Funds, as defined in the Notes to Financial Statements, and ETFs can be found in the financial statements filed with the Securities and Exchange Commission (SEC) by each such underlying fund semi-annually on Form N-CSR and in portfolio holdings filed quarterly on Form N-PORT, and are available for download from both the SEC's as well as each respective underlying fund's website. Detailed information about Underlying J.P. Morgan Funds can also be found at www.jpmorganfunds.com or by calling 1-800-480-4111.

------

**JPMorgan Investor Growth & Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

(Dollar values in thousands)

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

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

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

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

Investments in open-end investment companies, excluding exchange-traded funds ("ETFs") ("Underlying Funds"), are valued at each Underlying Fund's net asset values per share as of the report date.

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

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Total Investments in Securities** (a) | &nbsp;&nbsp;&nbsp;&nbsp; $5228793 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5228793 |

---

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

 <br> (a) Please refer to the SOI for specifics of portfolio holdings.

**B. Investment Transactions with Affiliates**— The Fund invested in Underlying Funds and ETFs advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated

------

**JPMorgan Investor Growth & Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

(Dollar values in thousands)

issuers. Underlying Funds' and ETFs' distributions may be reinvested into the Underlying Funds and ETFs. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** |
| **Security Description** | **Value at** <br>**June 30,** <br>**2025**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**September 30,** <br>**2025**<br>| **Shares at** <br>**September 30,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Core Bond Fund Class R6 <br> Shares (a)<br>| $780378 | $41199 | $— | $— | $7778 | $829355 | 79440 | $8376 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan Core Plus Bond Fund Class R6 <br> Shares (a)<br>| 350416 | 14797 |  |  | 3945 | 369158 | 50431 | 4518 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Emerging Markets Debt Fund <br> Class R6 Shares (a)<br>| 24242 | 358 |  |  | 853 | 25453 | 3898 | 358 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Emerging Markets Equity Fund <br> Class R6 Shares (a)<br>| 99937 |  | 20438 | 3941 | 8237 | 91677 | 2270 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Emerging Markets Research <br> Enhanced Equity Fund Class R6 Shares <br> (a)<br>| 76094 |  |  |  | 8283 | 84377 | 4060 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Equity Income Fund Class R6 <br> Shares (a)<br>| 159803 | 741 |  |  | 7935 | 168479 | 6367 | 741 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Europe Dynamic Fund Class R6 <br> Shares (a)<br>| 68905 |  |  |  | 1280 | 70185 | 1730 |  |  |
| JPMorgan Global Select Equity ETF (a) | 143117 |  |  |  | 7630 | 150747 | 2224 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan High Yield Fund Class R6 <br> Shares (a)<br>| 174010 | 2885 |  |  | 1070 | 177965 | 27005 | 2884 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Income Fund Class R6 Shares <br> (a)<br>| 202845 | 11839 |  |  | 482 | 215166 | 24990 | 3087 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan International Equity Fund <br> Class R6 Shares (a)<br>| 95061 |  |  |  | 2589 | 97650 | 4244 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan International Focus Fund <br> Class R6 Shares (a)<br>| 68288 |  |  |  | 4073 | 72361 | 2396 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan International Research <br> Enhanced Equity ETF (a)<br>| 284388 |  |  |  | 11131 | 295519 | 4019 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Large Cap Growth Fund <br> Class R6 Shares (a)<br>| 535194 |  | 44019 | 20051 | 26587 | 537813 | 5513 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Large Cap Value Fund Class R6 <br> Shares (a)<br>| 326517 | 1450 |  |  | 20938 | 348905 | 16042 | 1450 |  |
| JPMorgan Limited Duration Bond ETF (a) | 47953 |  |  |  | 225 | 48178 | 918 | 485 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Mid Cap Growth Fund Class R6 <br> Shares (a)<br>| 77724 |  |  |  | 3516 | 81240 | 1401 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Short Duration Core Plus Fund <br> Class R6 Shares (a)<br>| 48774 | 540 |  |  | 209 | 49523 | 5241 | 540 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Small & Mid Cap Enhanced <br> Equity ETF (a)<br>| 171463 |  |  |  | 12220 | 183683 | 2896 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Small Cap Equity Fund Class R6 <br> Shares (a)<br>| 25837 |  |  |  | (39)<br>| 25798 | 485 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan Small Cap Value Fund Class R6 <br> Shares (a)<br>| 31708 | 124 |  |  | 3217 | 35049 | 1196 | 123 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Equity Fund Class R6 <br> Shares (a)<br>| 490383 | 777 | 25570 | 2576 | 37852 | 506018 | 17836 | 777 |  |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. GARP Equity Fund <br> Class R6 Shares (a)<br>| 190141 |  | 13869 | 1744 | 19164 | 197180 | 1982 |  |  |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, 4.09% <br> (a) (b)<br>| 42229 | 59111 | 46541 |  |  | 54799 | 54799 | 571 |  |

---

------

**JPMorgan Investor Growth & Income Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF September 30, 2025 (Unaudited) (continued)

(Dollar values in thousands)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** | **For the period ended September 30, 2025** |
| **Security Description** | **Value at**<br> **June 30,**<br> **2025**<br>| **Purchases at**<br> **Cost**<br>| **Proceeds from**<br> **Sales**<br>| **Net Realized**<br> **Gain (Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>| **Value at**<br> **September 30,**<br> **2025**<br>| **Shares at**<br> **September 30,**<br> **2025**<br>| **Dividend**<br> **Income**<br>| **Capital Gain**<br> **Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Research Enhanced Equity <br> Fund Class R6 Shares (a)<br>| $313271 | $875 | $— | $— | $23147 | $337293 | 6885 | $876 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan Value Advantage Fund <br> Class R6 Shares (a)<br>| 169582 |  |  |  | 5640 | 175222 | 4372 |  |  |
| **Total** | $4998260 | $134696 | $150437 | $28312 | $217962 | $5228793 |  | $24786 | $— |

---

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

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of September 30, 2025.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-04236

- **c. CIK number of Registrant:** 0000763852

- **d. LEI of Registrant:** 549300IMXLYKELY96B40

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

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

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

- **a. Name of Series:** JPMorgan Investor Growth & Income Fund

- **b. EDGAR series identifier (if any):** S000003902

- **c. LEI of Series:** 549300Z22HF0FMZKVV98

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $5229250638.32

**Total Liabilities:** $20416370.06

**Net Assets:** $5208834268.26

**Cash Not Reported:** $188215.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010909 | 0.71%                | 1.97%                | 2.37%                |
| Class ID C000010906 | 0.75%                | 2.08%                | 2.41%                |
| Class ID C000191460 | 0.80%                | 2.08%                | 2.47%                |
| Class ID C000010907 | 0.78%                | 2.03%                | 2.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10849263.39             | $22274267.31                               |
| Month 2  | $7228637.38              | $90404195.64                               |
| Month 3  | $10233875.27             | $105463309.77                              |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                    | Title                                                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JPMorgan Small Cap Value Fund                           | JPMorgan Small Cap Value Fund, Class R6                           | CUSIP: 4812C0225<br>LEI: 549300V4YKXS0HHDUK18 | Long             |  | RF                | US        |   1195787 | NS      | $35048521.86  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Mid Cap Growth Fund                            | JPMorgan Mid Cap Growth Fund, Class R6                            | CUSIP: 4812C2288<br>LEI: 5493005HTW43WWUWCV03 | Long             |  | RF                | US        |   1400935 | NS      | $81240243.15  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Emerging Markets Debt Fund                     | JPMorgan Emerging Markets Debt Fund, Class R6                     | CUSIP: 48121A134<br>LEI: 8KLDAXM5A9FOP50PQD10 | Long             |  | RF                | US        |   3897914 | NS      | $25453378.82  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan U.S. GARP Equity Fund                          | JPMorgan U.S. GARP Equity Fund, Class R6                          | CUSIP: 46641U580<br>LEI: 549300N2J35RBS1KLI04 | Long             |  | RF                | US        |   1982506 | NS      | $197180008.57 | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan International Research Enhanced Equity ETF     | JPMorgan International Research Enhanced Equity ETF               | CUSIP: 46641Q134<br>LEI: 549300O57YNNVO2LZJ82 | Long             |  | RF                | US        |   4018481 | NS      | $295519092.74 | 5.67%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Large Cap Growth Fund                          | JPMorgan Large Cap Growth Fund, Class R6                          | CUSIP: 48121L841<br>LEI: 549300B21XF5FG1XOB26 | Long             |  | RF                | US        |   5512642 | NS      | $537813372.45 | 10.33%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Income Fund                                    | JPMorgan Income Fund, Class R6                                    | CUSIP: 46637K216<br>LEI: 549300J9G10ZQTTAFU03 | Long             |  | RF                | US        |  24869377 | NS      | $214125336.17 | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Global Select Equity ETF                       | JPMorgan Global Select Equity ETF                                 | CUSIP: 46654Q740<br>LEI: 5493000IA63JXH4YO068 | Long             |  | RF                | US        |   2224388 | NS      | $150746774.76 | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Core Plus Bond Fund                            | JPMorgan Core Plus Bond Fund, Class R6                            | CUSIP: 4812C0134<br>LEI: JW89OQCNJOLWVS3KT374 | Long             |  | RF                | US        |  50431375 | NS      | $369157663.76 | 7.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Emerging Markets Research Enhanced Equity Fund | JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | CUSIP: 46645V626<br>LEI: 549300RH6H0TG40PHS83 | Long             |  | RF                | US        |   4060501 | NS      | $84377219.94  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Small Cap Equity Fund                          | JPMorgan Small Cap Equity Fund, Class R6                          | CUSIP: 48127B862<br>LEI: 549300RO68EY7ZS30I29 | Long             |  | RF                | US        |    484559 | NS      | $25797921.53  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan High Yield Fund                                | JPMorgan High Yield Fund, Class R6                                | CUSIP: 4812C0126<br>LEI: 15QB5UY3VV3GNSMNPX63 | Long             |  | RF                | US        |  27005245 | NS      | $177964561.72 | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan International Equity Fund                      | JPMorgan International Equity Fund, Class R6                      | CUSIP: 48121L882<br>LEI: HQ7PRYSQNFVGDT1BSL78 | Long             |  | RF                | US        |   4243798 | NS      | $97649794.10  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Small & Mid Cap Enhanced Equity ETF            | JPMorgan Small & Mid Cap Enhanced Equity ETF                      | CUSIP: 46641Q118<br>LEI: 549300MQ8JTFF5H84A93 | Long             |  | RF                | US        |   2895844 | NS      | $183683384.92 | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Short Duration Core Plus Fund                  | JPMorgan Short Duration Core Plus Fund, Class R6                  | CUSIP: 46637K463<br>LEI: 549300Q5U8SV79G4IM14 | Long             |  | RF                | US        |   5240516 | NS      | $49522873.55  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund              | JPMorgan U.S. Government Money Market Fund, Class IM              | CUSIP: 4812C2270<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | STIV             | RF                | US        |  54799160 | NS      | $54799160.13  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Large Cap Value Fund                           | JPMorgan Large Cap Value Fund, Class R6                           | CUSIP: 48121L833<br>LEI: 549300JPSGHFE3RK0F55 | Long             |  | RF                | US        |  16041599 | NS      | $348904772.79 | 6.70%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan U.S. Research Enhanced Equity Fund             | JPMorgan U.S. Research Enhanced Equity Fund, Class R6             | CUSIP: 4812A1837<br>LEI: 549300VOOZNRR4HQN096 | Long             |  | RF                | US        |   6884933 | NS      | $337292856.30 | 6.48%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan International Focus Fund                       | JPMorgan International Focus Fund, Class R6                       | CUSIP: 48121L130<br>LEI: 549300RMZ0H6Q5148Y98 | Long             |  | RF                | US        |   2396075 | NS      | $72361464.46  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Emerging Markets Equity Fund                   | JPMorgan Emerging Markets Equity Fund, Class R6                   | CUSIP: 48121L122<br>LEI: YGO3SVACG8PL3FXK2G86 | Long             |  | RF                | US        |   2270348 | NS      | $91676666.70  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan U.S. Equity Fund                               | JPMorgan U.S. Equity Fund, Class R6                               | CUSIP: 48121L817<br>LEI: 549300O4STN5CE50YK08 | Long             |  | RF                | US        |  17836383 | NS      | $506196557.49 | 9.72%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Europe Dynamic Fund                            | JPMorgan Europe Dynamic Fund, Class R6                            | CUSIP: 48129C843<br>LEI: H40KNBC4QSZM6KZETD45 | Long             |  | RF                | US        |   1729553 | NS      | $70185242.43  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Ltd. Duration Bond ETF                         | JPMorgan Limited Duration Bond ETF                                | CUSIP: 46654Q773<br>LEI: 5493000BIWEW3H1AQT90 | Long             |  | RF                | US        |    918117 | NS      | $48178189.58  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Core Bond Fund                                 | JPMorgan Core Bond Fund, Class R6                                 | CUSIP: 4812C0100<br>LEI: DQ695W4P67V7A4LC6I09 | Long             |  | RF                | US        |  79440146 | NS      | $829355125.47 | 15.92%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Equity Income Fund                             | JPMorgan Equity Income Fund, Class R6                             | CUSIP: 46636U876<br>LEI: 5493004E5SGY8TJZ5623 | Long             |  | RF                | US        |   6367312 | NS      | $168479072.61 | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Value Advantage Fund                           | JPMorgan Value Advantage Fund, Class R6                           | CUSIP: 46641U382<br>LEI: 549300P7ZUUEK5GQXK57 | Long             |  | RF                | US        |   4371793 | NS      | $175221480.15 | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** JPMorgan Trust II

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer