JPMorgan Large Cap Value Fund

JPMorgan Trust II · 8 share classes

Actively managed U.S. equity fund
One fund, 8 share classes:HLQVXOLVAXOLVCXJLVRXJLVZXJLVMXOLVRXOLVTX
$5.16B NAV
104 positions · as of 2026-06-30 · filed 2026-08-28

Fund classification

Classified from what the fund holds · as of 2026 Q2

JPMorgan Large Cap Value Fund is an actively managed U.S. equity fund. 8% of HLQVX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 91% of the fund’s equity).

Asset class
Equity
Region
United States
Management
Actively managed
Fund type
Open-end fund

Fund profile

As filed in the prospectus · 2025 Q4

The Fund seeks capital appreciation with the incidental goal of achieving current income by investing primarily in equity securities.

Strategy · summarised

The fund invests in large-cap equity securities identified as attractively valued by the adviser's research process, which ranks companies by relative value and assesses their growth potential over a five-year horizon; the adviser also considers catalysts, risk-reward dynamics, and temporary mispricings when selecting and selling holdings. The fund's active and frequent trading may result in high portfolio turnover.

Expenses
0.44% 1.44%across 8 share classes
Share classGrossNet
HLQVX0.75%0.69%
OLVAX1.01%0.93%
OLVCX1.50%1.44%
JLVRX0.60%0.54%
JLVZX1.26%1.19%
JLVMX0.49%0.44%
OLVRX0.74%0.69%
OLVTX1.00%0.94%

Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.

Portfolio turnover 185.00% · as of 2025 Q4

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

100.70%
of net assets
Stocks99.34%
Cash & short-term1.36%

Sector allocation

The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2

100%
of net assets
Financials19.0%
Information Technology17.9%
Consumer Discretionary12.6%
Health Care12.4%
9 smaller38.1%

Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).

Portfolio growth profile

How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2

Revenue growth
8%of stock holdings in top-quartile growers
covering 91% of the fund’s equity
Earnings growth
24%of stock holdings in top-quartile growers
covering 81% of the fund’s equity

Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 43 new37 exited

Largest new: AMZN, MSFT, AAPL, NVDA, COF, QCOM, AXP, TKR

Largest exited: GOOG, T, USB, JNJ, R, PM, REGN, D

Return profile

Chart:

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

Share class1-year3-year5-yearVolWorst fall
+24.92%+50.87%+58.01%10.25%-10.84%
+24.62%+49.81%+56.16%10.23%-10.95%
+23.97%+47.56%+52.20%10.21%-11.13%
+25.16%+51.58%+59.22%10.24%-10.80%
+24.30%+48.68%+54.10%10.26%-11.02%
+25.19%+52.02%+59.98%10.23%-10.71%
+24.93%+50.94%+58.08%10.26%-10.84%
+24.61%+49.76%+56.08%10.23%-10.94%

These classes hold the same portfolio, so the 7.78pp spread over 5 years is the cost difference between them — roughly 1.56pp a year — not a difference in what they own.

Cumulative return· Jul 2023 – Apr 2026

May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
Amazon.com, Inc.AMZN7.61%$392.89M
Wells Fargo & Co.WFC2.92%$150.46M
Meta Platforms, Inc.META2.79%$143.75M
Microsoft Corp.MSFT2.72%$140.45M
Southwest Airlines Co.LUV2.32%$119.87M
Bank of America Corp.BAC2.32%$119.62M
GE HealthCare Technologies, Inc.GEHC2.15%$111.18M
Fifth Third BancorpFITB2.10%$108.35M
AvalonBay Communities, Inc.AVB2.01%$103.74M
Walt Disney Co. (The)DIS1.78%$91.71M
Showing 10 of 104Sign in to see more

Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.

Top 10 positions are 28.71% of net assets, top 25 51.86%, across 104 issuers.

See more of this fund's book

More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.

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