# Product Facts - JPMorgan U.S. Large Cap Core Plus Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-10-02T12:55:39.961797137Z. ## Identity - **Fund Name**: JPMorgan U.S. Large Cap Core Plus Fund - **Share Class Name**: JPMorgan U.S. Large Cap Core Plus Fund-R6 - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-u-s-large-cap-core-plus-fund-r6-48129c603) - **Ticker**: JLPYX - **CUSIP**: 48129C603 - **Fund Type**: MUTUAL FUND - **Asset Class**: U.S. Equity - **Fund Inception Date**: 11/01/2005 - **Share Class Inception Date**: 11/01/2017 - **Investment Objective**: The Fund seeks to provide a high total return from a portfolio of selected equity securities. ## Fund Facts - **Ticker**: JLPYX - **CUSIP**: 48129C603 - **Share Class Number**: 2737 - **Asset Class**: U.S. Equity - **Fund Inception Date**: 11/01/2005 - **Share Class Inception Date**: 11/01/2017 - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 10/01/2026**: $26.01 - **NAV Change ($) As of 10/01/2026**: $0.01 - **NAV Change (%) As of 10/01/2026**: 0.04% - **Fund Assets As of 10/01/2026**: $3.68bn - **Number of Holdings As of 08/31/2026**: 280 - **YTD As of 10/01/2026**: 8.56% ## Portfolio Managers ### Susan Bao - **In the industry**: 29 years - **With J.P. Morgan**: 29 years - **Managing this fund**: 20 years ### Timothy Woodhouse - **In the industry**: 18 years - **With J.P. Morgan**: 18 years - **Managing this fund**: 1 year ### Andrew Stern - **In the industry**: 18 years - **With J.P. Morgan**: 18 years - **Managing this fund**: 1 year ## Commentary **As of **: 06/30/2026 ### Topline Benchmark S&P 500 Total Return 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. Helped The semiconductors & hardware and software & services sectors added the most value. Hurt The consumer discretionary and payments & business services sector weighed the most on performance. Outlook We continue to focus on fundamentals of the economy and company earnings. Our analysts’ estimates for S&P 500 Index earnings project 26% for 2026 and 22% for 2027. While subject to revision, this forecast includes our best analysis of earnings expectations. ### Quarter in Review The JPMorgan Large Cap Core Plus Fund (I Shares) underperformed the benchmark, the S&P 500 Total Return Index, for the quarter ended June 30, 2026. A short position in SanDisk, a provider of NAND flash memory and storage solutions serving consumer, enterprise and cloud markets, detracted from performance during the period. The stock outperformed due to strong pricing-driven revenue growth, significantly bolstering both margins and earnings power, alongside strategic multi-year customer partnerships that management believes will help suppress the significant historical cyclicality endemic to the industry. An underweight position in Intel, a leading semiconductor manufacturer focused on computing, data center and foundry technologies, detracted from performance during the period. The stock outperformed as server CPU demand accelerated, driving improved pricing power, and preliminary foundry engagements with Apple and Tesla provided optimism that Intel’s manufacturing turnaround is taking shape. An overweight position in Lam Research, a leading provider of wafer fabrication equipment (WFE) and services to the semiconductor industry, contributed to performance during the period. The stock outperformed due to record revenue growth, exceptional gross margin expansion and raised 2026 guidance signaling strong execution. Investors remain enthusiastic regarding industrywide WFE spending and Lam’s opportunity to outgrow the market due to its strong position in memory, where capacity-add expectations continue to trend meaningfully higher amid a historic supply shortage, along with a strengthening position in foundry/logic. An overweight position in Western Digital, a leading provider of hard disk drive and flash storage solutions for data-intensive applications, contributed to performance during the period. The stock outperformed due to strong earnings execution, significant gross margin expansion and robust cloud demand growth driven by AI infrastructure build-out. Management guided above expectations with confidence in sustained exabyte growth exceeding 25% annually through technology innovations, including higher-capacity drives and accelerated HAMR qualification with major hyperscaler customers. ### Looking Ahead The U.S. equity market remains constructive amid evolving macroeconomic and geopolitical conditions. Continued strength in corporate earnings, coupled with robust AI-related investment, continues 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. ## Documents - [Factsheet: JPMorgan U.S. Large Cap Core Plus Fund (R6)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/us-equity/FS-USLCCP-R6.PDF) - [Fund Story: U.S. Large Cap Core Plus Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fund-story/STO-USLCCP.pdf) - [Commentary: U.S. Large Cap Core Plus Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-USLCCP.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 - U.S. Large Cap Core Plus Fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-USLCCP-2.PDF) - [Supplemental Data Sheet - U.S. Large Cap Core Plus Fund (Quarterly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-USLCCP-1.pdf) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/48129C603/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.