# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0002071691-25-007787
**Filing Date:** 2025-11
**Character Count:** 77116
**Document Hash:** 6f499efe3629d14232239d5483b995fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007787.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002071691-25-007787

**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 I
- **CENTRAL INDEX KEY:** 0001217286

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21295
- **FILM NUMBER:** 251528393

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

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

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

## Series and Classes Contracts Data

### JPMorgan Small Cap Equity Fund (Series ID: S000002794)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007651 | Class I      | VSEIX           |
| C000007653 | Class A      | VSEAX           |
| C000007655 | Class C      | JSECX           |
| C000033531 | Class R5     | JSERX           |
| C000070625 | Class R2     | JSEZX           |
| C000169974 | Class R6     | VSENX           |
| C000173555 | Class R3     | JSEPX           |
| C000173556 | Class R4     | JSEQX           |

## Nport-Ex

**JPMorgan Small Cap Equity 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 Small Cap Equity 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>|
| **Common Stocks — 97.9%** | **Common Stocks — 97.9%** | **Common Stocks — 97.9%** |
| **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** |
| &nbsp;&nbsp;&nbsp; Karman Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp;&nbsp;&nbsp; 19170 |
| &nbsp;&nbsp;&nbsp; Loar Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 302 | &nbsp;&nbsp;&nbsp;&nbsp; 24131 |
| &nbsp;&nbsp;&nbsp; Woodward, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 13118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 56419 |
| **Automobile Components — 1.9%** | **Automobile Components — 1.9%** | **Automobile Components — 1.9%** |
| &nbsp;&nbsp;&nbsp; Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp;&nbsp;&nbsp; 32554 |
| &nbsp;&nbsp;&nbsp; Modine Manufacturing Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp;&nbsp;&nbsp; 33402 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 65956 |
| **Banks — 10.3%** | **Banks — 10.3%** | **Banks — 10.3%** |
| &nbsp;&nbsp;&nbsp; BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1064 | &nbsp;&nbsp;&nbsp;&nbsp; 40607 |
| &nbsp;&nbsp;&nbsp; Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 653 | &nbsp;&nbsp;&nbsp;&nbsp; 39000 |
| &nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 319 | &nbsp;&nbsp;&nbsp;&nbsp; 40447 |
| &nbsp;&nbsp;&nbsp; First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 1512 | &nbsp;&nbsp;&nbsp;&nbsp; 38180 |
| &nbsp;&nbsp;&nbsp; First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1408 | &nbsp;&nbsp;&nbsp;&nbsp; 34953 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 951 | &nbsp;&nbsp;&nbsp;&nbsp; 21513 |
| &nbsp;&nbsp;&nbsp; First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 951 | &nbsp;&nbsp;&nbsp;&nbsp; 30300 |
| &nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 378 | &nbsp;&nbsp;&nbsp;&nbsp; 30440 |
| &nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 376 | &nbsp;&nbsp;&nbsp;&nbsp; 49737 |
| &nbsp;&nbsp;&nbsp; WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 678 | &nbsp;&nbsp;&nbsp;&nbsp; 36592 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 361769 |
| **Beverages — 1.2%** | **Beverages — 1.2%** | **Beverages — 1.2%** |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1929 | &nbsp;&nbsp;&nbsp;&nbsp; 42622 |
| **Building Products — 5.5%** | **Building Products — 5.5%** | **Building Products — 5.5%** |
| &nbsp;&nbsp;&nbsp; AAON, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp; 33667 |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp; 16413 |
| &nbsp;&nbsp;&nbsp; Hayward Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4415 | &nbsp;&nbsp;&nbsp;&nbsp; 66753 |
| &nbsp;&nbsp;&nbsp; Janus International Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3419 | &nbsp;&nbsp;&nbsp;&nbsp; 33744 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp; 41872 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 192449 |
| **Capital Markets — 6.3%** | **Capital Markets — 6.3%** | **Capital Markets — 6.3%** |
| &nbsp;&nbsp;&nbsp; Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp;&nbsp;&nbsp; 46596 |
| &nbsp;&nbsp;&nbsp; MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp;&nbsp; 40850 |
| &nbsp;&nbsp;&nbsp; Miami International Holdings, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp; 20915 |
| &nbsp;&nbsp;&nbsp; Moelis & Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 263 | &nbsp;&nbsp;&nbsp;&nbsp; 18775 |
| &nbsp;&nbsp;&nbsp; Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 184 | &nbsp;&nbsp;&nbsp;&nbsp; 42604 |
| &nbsp;&nbsp;&nbsp; StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp;&nbsp;&nbsp; 50645 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 220385 |
| **Chemicals — 5.3%** | **Chemicals — 5.3%** | **Chemicals — 5.3%** |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1103 | &nbsp;&nbsp;&nbsp;&nbsp; 31571 |
| &nbsp;&nbsp;&nbsp; Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 249 | &nbsp;&nbsp;&nbsp;&nbsp; 37398 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2061 | &nbsp;&nbsp;&nbsp;&nbsp; 51877 |
| &nbsp;&nbsp;&nbsp; Perimeter Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1219 | &nbsp;&nbsp;&nbsp;&nbsp; 27292 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 284 | &nbsp;&nbsp;&nbsp;&nbsp; 37404 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 185542 |

---

------

**JPMorgan Small Cap Equity 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>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Commercial Services & Supplies — 3.5%** | **Commercial Services & Supplies — 3.5%** | **Commercial Services & Supplies — 3.5%** |
| &nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 527 | &nbsp;&nbsp;&nbsp;&nbsp; 50047 |
| &nbsp;&nbsp;&nbsp; MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 419 | &nbsp;&nbsp;&nbsp;&nbsp; 72072 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 122119 |
| **Communications Equipment — 0.2%** | **Communications Equipment — 0.2%** | **Communications Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Digi International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp; 8138 |
| **Construction & Engineering — 1.5%** | **Construction & Engineering — 1.5%** | **Construction & Engineering — 1.5%** |
| &nbsp;&nbsp;&nbsp; WillScot Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2508 | &nbsp;&nbsp;&nbsp;&nbsp; 52951 |
| **Construction Materials — 1.4%** | **Construction Materials — 1.4%** | **Construction Materials — 1.4%** |
| &nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 204 | &nbsp;&nbsp;&nbsp;&nbsp; 47553 |
| **Consumer Staples Distribution & Retail — 2.2%** | **Consumer Staples Distribution & Retail — 2.2%** | **Consumer Staples Distribution & Retail — 2.2%** |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp;&nbsp;&nbsp; 13549 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 610 | &nbsp;&nbsp;&nbsp;&nbsp; 63434 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 76983 |
| **Containers & Packaging — 0.9%** | **Containers & Packaging — 0.9%** | **Containers & Packaging — 0.9%** |
| &nbsp;&nbsp;&nbsp; AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 236 | &nbsp;&nbsp;&nbsp;&nbsp; 31575 |
| **Diversified Consumer Services — 2.3%** | **Diversified Consumer Services — 2.3%** | **Diversified Consumer Services — 2.3%** |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 487 | &nbsp;&nbsp;&nbsp;&nbsp; 52837 |
| &nbsp;&nbsp;&nbsp; Driven Brands Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1775 | &nbsp;&nbsp;&nbsp;&nbsp; 28599 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 81436 |
| **Electric Utilities — 1.2%** | **Electric Utilities — 1.2%** | **Electric Utilities — 1.2%** |
| &nbsp;&nbsp;&nbsp; Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 924 | &nbsp;&nbsp;&nbsp;&nbsp; 40646 |
| **Electronic Equipment, Instruments & Components — 3.1%** | **Electronic Equipment, Instruments & Components — 3.1%** | **Electronic Equipment, Instruments & Components — 3.1%** |
| &nbsp;&nbsp;&nbsp; Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp; 35018 |
| &nbsp;&nbsp;&nbsp; Fabrinet (Thailand) \* | &nbsp;&nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp;&nbsp;&nbsp; 33354 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 411 | &nbsp;&nbsp;&nbsp;&nbsp; 41181 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 109553 |
| **Energy Equipment & Services — 1.5%** | **Energy Equipment & Services — 1.5%** | **Energy Equipment & Services — 1.5%** |
| &nbsp;&nbsp;&nbsp; Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 923 | &nbsp;&nbsp;&nbsp;&nbsp; 36431 |
| &nbsp;&nbsp;&nbsp; Flowco Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 1181 | &nbsp;&nbsp;&nbsp;&nbsp; 17537 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 53968 |
| **Food Products — 1.8%** | **Food Products — 1.8%** | **Food Products — 1.8%** |
| &nbsp;&nbsp;&nbsp; Freshpet, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp; 22305 |
| &nbsp;&nbsp;&nbsp; Utz Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3244 | &nbsp;&nbsp;&nbsp;&nbsp; 39412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 61717 |
| **Ground Transportation — 2.4%** | **Ground Transportation — 2.4%** | **Ground Transportation — 2.4%** |
| &nbsp;&nbsp;&nbsp; Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 545 | &nbsp;&nbsp;&nbsp;&nbsp; 21542 |
| &nbsp;&nbsp;&nbsp; Landstar System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp;&nbsp; 35210 |
| &nbsp;&nbsp;&nbsp; Saia, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 93 | &nbsp;&nbsp;&nbsp;&nbsp; 27784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 84536 |

---

------

**JPMorgan Small Cap Equity 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>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Health Care Equipment & Supplies — 2.5%** | **Health Care Equipment & Supplies — 2.5%** | **Health Care Equipment & Supplies — 2.5%** |
| &nbsp;&nbsp;&nbsp; Envista Holdings Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2459 | &nbsp;&nbsp;&nbsp;&nbsp; 50093 |
| &nbsp;&nbsp;&nbsp; ICU Medical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; 38600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 88693 |
| **Health Care Providers & Services — 5.3%** | **Health Care Providers & Services — 5.3%** | **Health Care Providers & Services — 5.3%** |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp; 49074 |
| &nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1702 | &nbsp;&nbsp;&nbsp;&nbsp; 35635 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp;&nbsp;&nbsp; 64739 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 392 | &nbsp;&nbsp;&nbsp;&nbsp; 37178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 186626 |
| **Hotel & Resort REITs — 1.3%** | **Hotel & Resort REITs — 1.3%** | **Hotel & Resort REITs — 1.3%** |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 502 | &nbsp;&nbsp;&nbsp;&nbsp; 44958 |
| **Hotels, Restaurants & Leisure — 4.8%** | **Hotels, Restaurants & Leisure — 4.8%** | **Hotels, Restaurants & Leisure — 4.8%** |
| &nbsp;&nbsp;&nbsp; Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp;&nbsp;&nbsp; 34785 |
| &nbsp;&nbsp;&nbsp; Planet Fitness, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 467 | &nbsp;&nbsp;&nbsp;&nbsp; 48524 |
| &nbsp;&nbsp;&nbsp; Shake Shack, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 21549 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp; 22311 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 503 | &nbsp;&nbsp;&nbsp;&nbsp; 40152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 167321 |
| **Industrial REITs — 1.3%** | **Industrial REITs — 1.3%** | **Industrial REITs — 1.3%** |
| &nbsp;&nbsp;&nbsp; EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp;&nbsp;&nbsp; 44727 |
| **Insurance — 3.4%** | **Insurance — 3.4%** | **Insurance — 3.4%** |
| &nbsp;&nbsp;&nbsp; Accelerant Holdings, Class A (Cayman Islands) \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 844 | &nbsp;&nbsp;&nbsp;&nbsp; 12561 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group, Inc. (The), Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 885 | &nbsp;&nbsp;&nbsp;&nbsp; 24980 |
| &nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp; 37854 |
| &nbsp;&nbsp;&nbsp; Neptune Insurance Holdings, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp; 5954 |
| &nbsp;&nbsp;&nbsp; RLI Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 570 | &nbsp;&nbsp;&nbsp;&nbsp; 37210 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 118559 |
| **Leisure Products — 1.9%** | **Leisure Products — 1.9%** | **Leisure Products — 1.9%** |
| &nbsp;&nbsp;&nbsp; Acushnet Holdings Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 451 | &nbsp;&nbsp;&nbsp;&nbsp; 35394 |
| &nbsp;&nbsp;&nbsp; Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 494 | &nbsp;&nbsp;&nbsp;&nbsp; 31250 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 66644 |
| **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 18508 |
| **Machinery — 3.6%** | **Machinery — 3.6%** | **Machinery — 3.6%** |
| &nbsp;&nbsp;&nbsp; Hillman Solutions Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3571 | &nbsp;&nbsp;&nbsp;&nbsp; 32778 |
| &nbsp;&nbsp;&nbsp; Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 29676 |
| &nbsp;&nbsp;&nbsp; RBC Bearings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp; 45078 |
| &nbsp;&nbsp;&nbsp; Toro Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp; 18767 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 126299 |
| **Oil, Gas & Consumable Fuels — 2.2%** | **Oil, Gas & Consumable Fuels — 2.2%** | **Oil, Gas & Consumable Fuels — 2.2%** |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 364 | &nbsp;&nbsp;&nbsp;&nbsp; 41159 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp; 1487 | &nbsp;&nbsp;&nbsp;&nbsp; 37118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 78277 |

---

------

**JPMorgan Small Cap Equity 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>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Professional Services — 3.3%** | **Professional Services — 3.3%** | **Professional Services — 3.3%** |
| &nbsp;&nbsp;&nbsp; First Advantage Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2050 | &nbsp;&nbsp;&nbsp;&nbsp; 31541 |
| &nbsp;&nbsp;&nbsp; Paylocity Holding Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp;&nbsp;&nbsp; 43018 |
| &nbsp;&nbsp;&nbsp; Verra Mobility Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1662 | &nbsp;&nbsp;&nbsp;&nbsp; 41062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 115621 |
| **Real Estate Management & Development — 2.1%** | **Real Estate Management & Development — 2.1%** | **Real Estate Management & Development — 2.1%** |
| &nbsp;&nbsp;&nbsp; Colliers International Group, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 208 | &nbsp;&nbsp;&nbsp;&nbsp; 32543 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 2584 | &nbsp;&nbsp;&nbsp;&nbsp; 41128 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 73671 |
| **Semiconductors & Semiconductor Equipment — 3.2%** | **Semiconductors & Semiconductor Equipment — 3.2%** | **Semiconductors & Semiconductor Equipment — 3.2%** |
| &nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc. (Japan) \* | &nbsp;&nbsp;&nbsp;&nbsp; 900 | &nbsp;&nbsp;&nbsp;&nbsp; 26272 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp; 50378 |
| &nbsp;&nbsp;&nbsp; Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 845 | &nbsp;&nbsp;&nbsp;&nbsp; 33993 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 110643 |
| **Software — 3.8%** | **Software — 3.8%** | **Software — 3.8%** |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3224 | &nbsp;&nbsp;&nbsp;&nbsp; 29371 |
| &nbsp;&nbsp;&nbsp; Clearwater Analytics Holdings, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 1942 | &nbsp;&nbsp;&nbsp;&nbsp; 34994 |
| &nbsp;&nbsp;&nbsp; nCino, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 632 | &nbsp;&nbsp;&nbsp;&nbsp; 17146 |
| &nbsp;&nbsp;&nbsp; Qualys, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp; 27836 |
| &nbsp;&nbsp;&nbsp; SPS Commerce, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 236 | &nbsp;&nbsp;&nbsp;&nbsp; 24526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 133873 |
| **Specialized REITs — 1.1%** | **Specialized REITs — 1.1%** | **Specialized REITs — 1.1%** |
| &nbsp;&nbsp;&nbsp; CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp; 969 | &nbsp;&nbsp;&nbsp;&nbsp; 39386 |
| **Specialty Retail — 0.8%** | **Specialty Retail — 0.8%** | **Specialty Retail — 0.8%** |
| &nbsp;&nbsp;&nbsp; Five Below, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 19749 |
| &nbsp;&nbsp;&nbsp; Warby Parker, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp;&nbsp;&nbsp; 7906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 27655 |
| **Trading Companies & Distributors — 2.7%** | **Trading Companies & Distributors — 2.7%** | **Trading Companies & Distributors — 2.7%** |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 42036 |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 943 | &nbsp;&nbsp;&nbsp;&nbsp; 50766 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 92802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $2,480,999)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 3430580 |
| **Short-Term Investments — 2.8%** | **Short-Term Investments — 2.8%** | **Short-Term Investments — 2.8%** |
| **Investment Companies — 2.0%** | **Investment Companies — 2.0%** | **Investment Companies — 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund Class IM Shares, 4.20% (b) (c) <br>(Cost $68,871)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 68866 | &nbsp;&nbsp;&nbsp;&nbsp; 68893 |

---

------

**JPMorgan Small Cap Equity 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 — continued** | **Short-Term Investments — continued** | **Short-Term Investments — continued** |
| **Investment of Cash Collateral from Securities Loaned — 0.8%** | **Investment of Cash Collateral from Securities Loaned — 0.8%** | **Investment of Cash Collateral from Securities Loaned — 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 4.20% (b) (c) <br>(Cost $28,627)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 28627 | &nbsp;&nbsp;&nbsp;&nbsp; 28627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $97,498)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 97520 |
| **Total Investments — 100.7%** <br>**(Cost $2,578,497)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **3528100** |
| **Liabilities in Excess of Other Assets — (0.7)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(26257)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **3501843** |

---

&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** |  |
| REIT | Real Estate Investment Trust |

---

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

\* Non-income producing security. 

(a) The security or a portion of this security is on loan at September 30, 2025. The total value of securities on loan at September 30, 2025 is $28,308.

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

(c) The rate shown is the current yield as of September 30, 2025.

------

**JPMorgan Small Cap Equity 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.

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

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

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

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp; $56419 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $56419 |
| &nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp; 65956 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 65956 |
| &nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp;&nbsp; 361769 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 361769 |
| &nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp;&nbsp; 42622 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42622 |
| &nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp;&nbsp;&nbsp; 192449 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 192449 |
| &nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp; 220385 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 220385 |
| &nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp;&nbsp; 185542 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 185542 |
| &nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; 122119 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 122119 |

---

------

**JPMorgan Small Cap Equity Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1**<br> Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2**<br> Other significant<br> observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3**<br> Significant<br> unobservable inputs<br>| **Total** |
| &nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp; $8138 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $8138 |
| &nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp; 52951 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52951 |
| &nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp; 47553 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 47553 |
| &nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp; 76983 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 76983 |
| &nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp; 31575 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 31575 |
| &nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp; 81436 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 81436 |
| &nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp; 40646 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 40646 |
| &nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp; 109553 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 109553 |
| &nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp; 53968 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 53968 |
| &nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp;&nbsp;&nbsp; 61717 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 61717 |
| &nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp; 84536 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 84536 |
| &nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp; 88693 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 88693 |
| &nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp; 186626 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 186626 |
| &nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp;&nbsp;&nbsp; 44958 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44958 |
| &nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp; 167321 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 167321 |
| &nbsp;&nbsp;&nbsp; Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp; 44727 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44727 |
| &nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp;&nbsp;&nbsp; 112605 | &nbsp;&nbsp;&nbsp;&nbsp; 5954 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 118559 |
| &nbsp;&nbsp;&nbsp; Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp; 66644 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66644 |
| &nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp; 18508 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18508 |
| &nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp;&nbsp;&nbsp; 126299 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 126299 |
| &nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp; 78277 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 78277 |
| &nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp;&nbsp;&nbsp; 115621 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 115621 |
| &nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp; 73671 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73671 |
| &nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 110643 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 110643 |
| &nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp;&nbsp;&nbsp; 133873 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 133873 |
| &nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp; 39386 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39386 |
| &nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp; 27655 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27655 |
| &nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp; 92802 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 92802 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 3424626 | &nbsp;&nbsp;&nbsp;&nbsp; 5954 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3430580 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 68893 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 68893 |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | &nbsp;&nbsp;&nbsp;&nbsp; 28627 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28627 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 97520 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 97520 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $3522146 | &nbsp;&nbsp;&nbsp;&nbsp; $5954 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3528100 |

---

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

------

**JPMorgan Small Cap Equity Fund**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

(Dollar values in thousands)

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended 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 Prime Money Market Fund <br> Class IM Shares, 4.20% (a) (b)<br>| $178285 | $290621 | $400038 | $13 | $12 | $68893 | 68866 | $1344 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market <br> Fund Agency SL Class Shares, 4.20% <br> (a) (b)<br>| 62215 | 178844 | 212432 |  |  | 28627 | 28627 | 348 |  |
| **Total** | $240500 | $469465 | $612470 | $13 | $12 | $97520 |  | $1692 | $— |

---

&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 I

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

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

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

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

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

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

- **a. Name of Series:** JPMorgan Small Cap Equity Fund

- **b. EDGAR series identifier (if any):** S000002794

- **c. LEI of Series:** 549300RO68EY7ZS30I29

**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:** $3524184732.02

**Total Liabilities:** $31561763.63

**Net Assets:** $3492622968.39

**Cash Not Reported:** $354984.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000169974 | 1.13%                | 2.56%                | -3.73%               |
| Class ID C000070625 | 1.09%                | 2.47%                | -3.76%               |
| Class ID C000173555 | 1.08%                | 2.51%                | -3.76%               |
| Class ID C000007653 | 1.09%                | 2.52%                | -3.77%               |
| Class ID C000007651 | 1.11%                | 2.53%                | -3.74%               |
| Class ID C000033531 | 1.13%                | 2.54%                | -3.72%               |
| Class ID C000173556 | 1.12%                | 2.53%                | -3.74%               |
| Class ID C000007655 | 1.07%                | 2.47%                | -3.84%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $83865397.39             | $-40419460.47                              |
| Month 2  | $44692394.07             | $44731815.20                               |
| Month 3  | $23304079.71             | $-160903043.65                             |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Acushnet Holdings Corp.                       | Acushnet Holdings Corp.                                               | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |    450938 | NS      | $35394123.62  | 1.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Wintrust Financial Corp.                      | Wintrust Financial Corp.                                              | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |    375543 | NS      | $49736914.92  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI Corp.                                     | RLI Corp.                                                             | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |    570533 | NS      | $37210162.26  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| nCino, Inc.                                   | nCino, Inc.                                                           | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |    632449 | NS      | $17145692.39  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| First Advantage Corp.                         | First Advantage Corp.                                                 | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |   2026229 | NS      | $31183664.31  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                     | CubeSmart                                                             | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    968670 | NS      | $39386122.20  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System, Inc.                         | Landstar System, Inc.                                                 | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |    287289 | NS      | $35210139.84  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp.                                 | Balchem Corp.                                                         | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |    249224 | NS      | $37398553.44  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Driven Brands Holdings, Inc.                  | Driven Brands Holdings, Inc.                                          | CUSIP: 26210V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1775260 | NS      | $28599438.60  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp.                                  | Gentex Corp.                                                          | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |   1150337 | NS      | $32554537.10  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Colliers International Group, Inc.            | Colliers International Group, Inc.                                    | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |    208330 | NS      | $32543229.30  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical, Inc.                             | ICU Medical, Inc.                                                     | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |    321771 | NS      | $38599649.16  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings, Inc.            | BJ's Wholesale Club Holdings, Inc.                                    | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |    145292 | NS      | $13548479.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group, Inc.                   | Kinsale Capital Group, Inc.                                           | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     89013 | NS      | $37853668.38  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings, Inc.                        | Medpace Holdings, Inc.                                                | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |     35996 | NS      | $18507703.36  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia, Inc.                                    | Saia, Inc.                                                            | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |     92812 | NS      | $27784200.32  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus, Inc.                                  | Cactus, Inc., Class A                                                 | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |    922991 | NS      | $36430454.77  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet, Inc.                                | Freshpet, Inc.                                                        | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |    404732 | NS      | $22304780.52  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                                 | SM Energy Co.                                                         | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |   1486525 | NS      | $37118529.25  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                                  | Moelis & Co., Class A                                                 | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |    263256 | NS      | $18775417.92  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions, Inc.        | Bright Horizons Family Solutions, Inc.                                | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    486660 | NS      | $52836676.20  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties, Inc.                    | EastGroup Properties, Inc.                                            | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |    264248 | NS      | $44726616.48  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Baldwin Insurance Group, Inc. (The)           | Baldwin Insurance Group, Inc. (The), Class A                          | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    885487 | NS      | $24979588.27  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp.                       | Hillman Solutions Corp.                                               | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3570655 | NS      | $32778612.90  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings, Inc.                            | RBC Bearings, Inc.                                                    | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115499 | NS      | $45078104.71  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                      | Fabrinet                                                              | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | KY        |     91475 | NS      | $33353614.50  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar, Inc.                             | Morningstar, Inc.                                                     | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |    183628 | NS      | $42603532.28  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings, Inc.    | Knight-Swift Transportation Holdings, Inc.                            | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    545232 | NS      | $21542116.32  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Parent, Inc.         | Concentra Group Holdings Parent, Inc.                                 | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1702573 | NS      | $35634852.89  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp.                       | Paylocity Holding Corp.                                               | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |    270094 | NS      | $43017871.38  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems, Inc.                   | Casella Waste Systems, Inc., Class A                                  | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |    527476 | NS      | $50046922.88  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations, Inc.                      | Power Integrations, Inc.                                              | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |    845389 | NS      | $33993091.69  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity, Inc.                            | HealthEquity, Inc.                                                    | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |    392303 | NS      | $37178555.31  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Miami International Holdings, Inc.            | Miami International Holdings, Inc.                                    | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |    519500 | NS      | $20915070.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| Verra Mobility Corp.                          | Verra Mobility Corp.                                                  | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |   1662414 | NS      | $41061625.80  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys, Inc.                                  | Qualys, Inc.                                                          | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |    210352 | NS      | $27835880.16  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co.                    | Performance Food Group Co.                                            | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |    609709 | NS      | $63434124.36  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings, Inc.                    | MarketAxess Holdings, Inc.                                            | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |    234431 | NS      | $40849601.75  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Perimeter Solutions, Inc.                     | Perimeter Solutions, Inc.                                             | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1218947 | NS      | $27292223.33  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings, Inc.               | Lincoln Electric Holdings, Inc.                                       | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |    125835 | NS      | $29675668.05  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings, Inc.                           | Loar Holdings, Inc.                                                   | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    301631 | NS      | $24130480.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp.                               | Brunswick Corp.                                                       | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |    494150 | NS      | $31250046.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Warby Parker, Inc.                            | Warby Parker, Inc., Class A                                           | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    274030 | NS      | $7557747.40   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co., Inc.               | Simpson Manufacturing Co., Inc.                                       | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |    250044 | NS      | $41872368.24  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions, Inc.                       | Element Solutions, Inc.                                               | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |   2061074 | NS      | $51877232.58  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp.                        | Encompass Health Corp.                                                | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |    509677 | NS      | $64739172.54  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON, Inc.                                    | AAON, Inc.                                                            | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    360309 | NS      | $33667272.96  | 0.96%             |  |  |  | No            |                  1 | On Loan: —       |
| Clearwater Analytics Holdings, Inc.           | Clearwater Analytics Holdings, Inc., Class A                          | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1941939 | NS      | $34993740.78  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below, Inc.                              | Five Below, Inc.                                                      | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |    127661 | NS      | $19749156.70  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce, Inc.                            | SPS Commerce, Inc.                                                    | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |    235514 | NS      | $24526427.96  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp.                                  | Chemed Corp.                                                          | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |    109603 | NS      | $49073647.22  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus International Group, Inc.               | Janus International Group, Inc.                                       | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3418808 | NS      | $33743634.96  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials, Inc.                         | Eagle Materials, Inc.                                                 | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |    204057 | NS      | $47553443.28  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands, Inc.                              | Utz Brands, Inc.                                                      | CUSIP: 918090101<br>LEI: 5299009BHBU2NH5HRN16 | Long             | EC               | CORP              | US        |   3243805 | NS      | $39412230.75  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup, Inc.                              | AptarGroup, Inc.                                                      | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |    236235 | NS      | $31575170.10  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ServisFirst Bancshares, Inc.                  | ServisFirst Bancshares, Inc.                                          | CUSIP: 81768T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    377998 | NS      | $30440178.94  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group, Inc.                         | StepStone Group, Inc., Class A                                        | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    775452 | NS      | $50644770.12  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety, Inc.                              | MSA Safety, Inc.                                                      | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |    418856 | NS      | $72072551.92  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore, Inc.                                | Evercore, Inc., Class A                                               | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |    138137 | NS      | $46596372.84  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd.                   | Axalta Coating Systems Ltd.                                           | CUSIP: N/A<br>LEI: 529900AGLPA40GV6H619       | Long             | EC               | CORP              | BM        |   1103102 | NS      | $31570779.24  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp.                          | WSFS Financial Corp.                                                  | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |    678512 | NS      | $36592152.16  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems, Inc.                    | Allegro MicroSystems, Inc.                                            | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    899746 | NS      | $26272583.20  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness, Inc.                          | Planet Fitness, Inc., Class A                                         | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |    467473 | NS      | $48523697.40  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main, Inc.                             | Core & Main, Inc., Class A                                            | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    943085 | NS      | $50766265.55  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                    | Cullen/Frost Bankers, Inc.                                            | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |    319060 | NS      | $40447236.20  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                | Wyndham Hotels & Resorts, Inc.                                        | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |    493898 | NS      | $39462450.20  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings, Inc.                        | Hayward Holdings, Inc.                                                | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4414848 | NS      | $66752501.76  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield plc                       | Cushman & Wakefield plc                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |   2583420 | NS      | $41128046.40  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings, Inc.     | MACOM Technology Solutions Holdings, Inc.                             | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    404673 | NS      | $50377741.77  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp.                       | WillScot Holdings Corp.                                               | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |   2508334 | NS      | $52950930.74  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Accelerant Holdings                           | Accelerant Holdings, Class A                                          | CUSIP: N/A<br>LEI: 213800VS4CX9ZONTD965       | Long             | EC               | CORP              | KY        |    843588 | NS      | $12561025.32  | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| Digi International, Inc.                      | Digi International, Inc.                                              | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |    223216 | NS      | $8138455.36   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort, Inc.                 | Monarch Casino & Resort, Inc.                                         | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |    333708 | NS      | $35319654.72  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta, Inc.                                 | Novanta, Inc.                                                         | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    411198 | NS      | $41181479.70  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp.                            | Primo Brands Corp.                                                    | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |   1928606 | NS      | $42622192.60  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares, Inc.                     | Commerce Bancshares, Inc.                                             | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    652615 | NS      | $39000272.40  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Securities Lending Money Market Fund | JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares | CUSIP: 46645V642<br>LEI: 5493002FD4HXUJXMRO62 | Long             | STIV             | RF                | US        |  28627004 | NS      | $28627004.50  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                      | Modine Manufacturing Co.                                              | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |    234958 | NS      | $33401629.28  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter, Inc.                            | Badger Meter, Inc.                                                    | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |    196091 | NS      | $35017930.78  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties, Inc.            | Ryman Hospitality Properties, Inc.                                    | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |    501814 | NS      | $44957516.26  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Prime Money Market Fund              | JPMorgan Prime Money Market Fund, Class IM                            | CUSIP: 46637K844<br>LEI: 549300YD7H8SEEU7VG41 | Long             | STIV             | RF                | US        |  68865604 | NS      | $68893150.35  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp.                           | First Horizon Corp.                                                   | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    951470 | NS      | $21512736.70  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings, Inc.                         | Karman Holdings, Inc.                                                 | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    265515 | NS      | $19170183.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack, Inc.                             | Shake Shack, Inc., Class A                                            | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |    230195 | NS      | $21548553.95  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem, Inc.             | First Interstate BancSystem, Inc., Class A                            | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |    950741 | NS      | $30300115.67  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp                       | First Financial Bancorp                                               | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |   1512083 | NS      | $38180095.75  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co. (The)                                | Toro Co. (The)                                                        | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |    246287 | NS      | $18767069.40  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co.                 | Portland General Electric Co.                                         | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |    923778 | NS      | $40646232.00  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp.                         | Quaker Chemical Corp.                                                 | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |    283899 | NS      | $37403693.25  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream, Inc.                            | DT Midstream, Inc.                                                    | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    364042 | NS      | $41158588.52  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward, Inc.                                | Woodward, Inc.                                                        | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |     51909 | NS      | $13117923.39  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian, Inc.                          | First Hawaiian, Inc.                                                  | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |   1407692 | NS      | $34952992.36  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations, Inc.              | Fortune Brands Innovations, Inc.                                      | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |    307415 | NS      | $16412886.85  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts, Inc.                            | Vail Resorts, Inc.                                                    | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |    149170 | NS      | $22311356.90  | 0.64%             |  |  |  | No            |                  1 | On Loan: —       |
| Flowco Holdings, Inc.                         | Flowco Holdings, Inc., Class A                                        | CUSIP: 342909108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1180952 | NS      | $17537137.20  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Holdings, Inc.      | CCC Intelligent Solutions Holdings, Inc.                              | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3224033 | NS      | $29370940.63  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp.                        | Envista Holdings Corp.                                                | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |   2459152 | NS      | $50092926.24  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited, Inc.                              | BankUnited, Inc.                                                      | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |   1064112 | NS      | $40606513.92  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies, Inc.         | Applied Industrial Technologies, Inc.                                 | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |    161024 | NS      | $42035315.20  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** JPMorgan Trust I

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer