# Product Facts - JPMorgan Mid Cap Value Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-10-02T11:41:27.821921435Z. ## Identity - **Fund Name**: JPMorgan Mid Cap Value Fund - **Share Class Name**: JPMorgan Mid Cap Value Fund-A - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-mid-cap-value-fund-a-339128308) - **Ticker**: JAMCX - **CUSIP**: 339128308 - **Fund Type**: MUTUAL FUND - **Asset Class**: U.S. Equity - **Fund Inception Date**: 11/13/1997 - **Share Class Inception Date**: 04/30/2001 - **Investment Objective**: The Fund seeks growth from capital appreciation. ## Fund Facts - **Ticker**: JAMCX - **CUSIP**: 339128308 - **Share Class Number**: 861 - **Asset Class**: U.S. Equity - **Fund Inception Date**: 11/13/1997 - **Share Class Inception Date**: 04/30/2001 - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 10/01/2026**: $32.41 - **NAV Change ($) As of 10/01/2026**: $0.26 - **NAV Change (%) As of 10/01/2026**: 0.81% - **Fund Assets As of 10/01/2026**: $9.95bn - **Number of Holdings As of 08/31/2026**: 107 - **YTD As of 10/01/2026**: 7.03% - **YTD (Total Return w/Load) As of 10/01/2026**: 1.41% ## Portfolio Managers ### Lawrence Playford - **In the industry**: 33 years - **With J.P. Morgan**: 33 years - **Managing this fund**: 22 years ### Ryan Jones - **In the industry**: 20 years - **With J.P. Morgan**: 10 years - **Managing this fund**: 2 years ### Jeremy Miller - **In the industry**: 26 years - **With J.P. Morgan**: 10 years - **Managing this fund**: 2 years ## Commentary **As of **: 06/30/2026 ### Topline Benchmark Russell Mid Cap Value Index Markets The S&P 500 Index gained 15.20% in the second quarter of 2026. Within the index, information technology and industrials were the best performing sectors, returning 31.79% and 14.88%, respectively, while energy and utilities were the worst performing sectors, returning -13.45% and -0.53%, respectively. Hurt Stock selection in technology detracted from performance. Helped Stock selection in indutrials contributed to portfolio results. Outlook The U.S. equity market remains constructive amid evolving macroeconomic and geopolitical conditions. Continued strength in corporate earnings, coupled with robust AI-related investment, continue to support the outlook for equities. However, narrow market leadership and heightened return dispersion reinforce the case for active stock selection. We remain focused on high-conviction stocks and seek to take advantage of market dislocations for compelling stock selection opportunities. ### Quarter in Review The JPMorgan Mid Cap Value Fund (I shares) underperformed the benchmark, the Russell Mid Cap Value Index, for the quarter ending June 30, 2026. Within technology, performance was hindered by an underweight to the highest-beta AI beneficiaries, most notably SanDisk, which surged 230% during the quarter. As AI-driven demand pushed memory-related stocks sharply higher, technology returned more than 59% during the quarter, making it difficult for our more conservative positioning to keep pace. Strong stock selection within industrials served as a tailwind for performance. JB Hunt, the largest intermodal transport provider in the U.S., was a top contributor as investors gain confidence that the freight recession is bottoming, which should lead to a positive inflection for volume growth. We maintain conviction in our position, given JB Hunt’s size and scale, prudent capital allocation and ability to benefit from both multiple expansion and earnings growth off depressed expectations. ### Looking Ahead We believe wide valuation spreads and robust and improving earnings provide a constructive backdrop for alpha generation. Health care: We are finding opportunities to invest in defensive quality at reasonable valuations. We have invested in a leader in clinical trial service, which is benefiting from resilient pharmaceutical R&D spending, yet the valuation is undemanding given AI concerns. Perceived AI disruption: We invested in the largest U.S. advertising agency, trading at 6x P/E with a 4% dividend yield despite solid earnings growth. Consumer: We have selectively invested in high-quality businesses with diversified brand portfolios driven by strong leadership, which should lead to above-industry growth and margin expansion. ## Documents - [Factsheet: JPMorgan Mid Cap Value Fund (A)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/us-equity/FS-MCV-A.PDF) - [Commentary: Mid Cap Value Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-MCV.PDF) - [Section 19a Notice - December 2025](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/section-19-notices/section-19a-notice-aa-funds-12-2025.pdf) - [Supplemental Data Sheet - Mid Cap Value Fund (Quarterly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-MCV-1.PDF) - [Supplemental Data Sheet - Mid Cap Value Fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-MCV-2.PDF) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/339128308/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/339128308/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/339128308/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/339128308/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/339128308/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/339128308/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/339128308/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/339128308/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/339128308/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/339128308/NPX?site=JPMorganv3) ## Disclosures 1. This Fund considers financially material environmental, social and governance ("ESG") factors as part of the Fund's investment process. In actively managed assets deemed by J.P. Morgan Asset Management to be ESG integrated under our governance process, we systematically assess financially material ESG factors amongst other factors in our investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not change a strategy's investment objective, exclude specific types of companies or constrain a strategy's investable universe.