JPMorgan U.S. Value Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, JPMorgan U.S. Value Fund held 90 positions with $6.94B in net assets. Its ten largest holdings made up 26.4% of the fund. The VGIIX share class costs 0.69% a year. Over the 12 months to May 2026, VGIIX returned 23.0%, with dividends reinvested. In 2026 Q2 it added 10 new positions and exited 10.
The Fund seeks to provide capital growth over the long-term.
The fund pursues capital growth by selecting undervalued U.S. common stocks, predominantly in the Russell 1000 Value Index range, using bottom-up fundamental analysis that emphasizes sector leaders with strong management, durable competitive advantages, and low price-to-cash flow ratios. The adviser may also hold REITs and foreign depositary receipts, and uses futures contracts to gain equity exposure from cash. Because security selection depends on the adviser's assessment of company fundamentals and valuations rather than an index methodology, fund holdings and returns may diverge materially from any benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
AMZNAmazon.com, Inc. | 4.48% | $311.08M | 1.3M | $238.34 |
MSFTMicrosoft Corp. | 3.95% | $274.27M | 735.3K | $373.02 |
AAPLApple, Inc. | 3.62% | $250.88M | 867.0K | $289.36 |
2.26% | $156.95M | 1.9M | $82.64 | |
2.14% | $148.73M | 711.5K | $209.04 | |
2.14% | $148.27M | 2.6M | $56.98 | |
2.11% | $146.43M | 576.6K | $253.97 | |
2.02% | $139.78M | 772.7K | $180.91 | |
1.98% | $137.05M | 979.2K | $139.96 | |
1.75% | $121.31M | 731.9K | $165.76 |
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.
All 90 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 98.95% |
| Cash & short-term | 1.10% |
By sector
- Financials
- 19.7%
- Information Technology
- 16.5%
- Health Care
- 13.7%
- Consumer Discretionary
- 11.1%
- 9 other sectors
- 38.9%
- Financials
- 19.7%
- Information Technology
- 16.5%
- Health Care
- 13.7%
- Consumer Discretionary
- 11.1%
- Industrials
- 10.9%
- Consumer Staples
- 4.8%
- Energy
- 4.6%
- Utilities
- 4.1%
- Communication Services
- 3.7%
- Materials
- 3.7%
- International
- 3.1%
- Real Estate
- 2.9%
- Cash
- 1.1%
How it has done
VGIIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 10.42%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 8 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.69% | +22.97% | +59.13% | +61.48% | -8.87% | |
| 0.94% | +22.66% | +57.92% | +59.47% | -8.96% | |
| 1.44% | +22.07% | +55.59% | +55.53% | -9.15% | |
| 1.19% | +22.36% | +56.76% | +57.51% | -9.05% | |
| 0.54% | +23.15% | +59.83% | +62.69% | -8.81% | |
| 0.44% | +23.27% | +60.33% | +63.51% | -8.78% | |
| 0.94% | +22.66% | +57.93% | +59.48% | -8.95% | |
| 0.69% | +22.97% | +59.12% | +61.49% | -8.86% |
These classes hold the same portfolio, so the 7.97pp spread over 5 years is the cost difference between them — roughly 1.59pp a year — not a difference in what they own.
Fees & fund details
JPMorgan U.S. Value Fund is an actively managed U.S. equity fund. 4% of VGIIX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 96% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.44% – 1.44%· VGIIX 0.69%
- Portfolio turnover
- 22.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
10 new· the largest 8
10 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — VGIIX, QQQ and the fund in my 401(k)?”
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