JPMorgan U.S. Momentum Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited)
Investments | Shares | Value ($) | ||||||
COMMON STOCKS — 100.0% |
| |||||||
Aerospace & Defense — 0.5% |
| |||||||
Axon Enterprise, Inc.* | 2,021 | 375,946 | ||||||
Howmet Aerospace, Inc.* | 7,366 | 241,752 | ||||||
Virgin Galactic Holdings, Inc.* | 11,730 | 351,783 | ||||||
|
| |||||||
969,481 | ||||||||
|
| |||||||
Automobiles & Parts — 2.2% | ||||||||
Gentex Corp. | 11,710 | 398,491 | ||||||
Tesla, Inc.* | 5,919 | 4,067,537 | ||||||
|
| |||||||
4,466,028 | ||||||||
|
| |||||||
Banks — 1.6% | ||||||||
Bank OZK | 3,076 | 125,224 | ||||||
Discover Financial Services | 2,072 | 257,591 | ||||||
East West Bancorp, Inc. | 3,639 | 258,915 | ||||||
First Citizens BancShares, Inc., Class A(a) | 202 | 158,083 | ||||||
First Republic Bank | 2,390 | 466,098 | ||||||
Pinnacle Financial Partners, Inc. | 1,674 | 150,007 | ||||||
Popular, Inc. (Puerto Rico) | 2,418 | 175,934 | ||||||
Regions Financial Corp. | 17,367 | 334,315 | ||||||
Signature Bank | 1,220 | 276,903 | ||||||
SVB Financial Group* | 1,115 | 613,205 | ||||||
Western Alliance Bancorp | 3,464 | 321,529 | ||||||
|
| |||||||
3,137,804 | ||||||||
|
| |||||||
Beverages — 0.5% | ||||||||
Boston Beer Co., Inc. (The), Class A* | 402 | 285,420 | ||||||
Monster Beverage Corp.* | 6,824 | 643,640 | ||||||
|
| |||||||
929,060 | ||||||||
|
| |||||||
Chemicals — 0.6% | ||||||||
Air Products and Chemicals, Inc. | 2,370 | 689,741 | ||||||
Albemarle Corp. | 1,936 | 398,893 | ||||||
Ashland Global Holdings, Inc. | 709 | 60,315 | ||||||
Element Solutions, Inc. | 5,136 | 120,131 | ||||||
|
| |||||||
1,269,080 | ||||||||
|
| |||||||
Construction & Materials — 2.4% | ||||||||
Advanced Drainage Systems, Inc. | 2,110 | 257,610 | ||||||
AECOM* | 7,025 | 442,294 | ||||||
Carrier Global Corp. | 15,343 | 847,701 | ||||||
Louisiana-Pacific Corp. | 7,237 | 401,219 | ||||||
Masco Corp. | 8,008 | 478,158 | ||||||
MasTec, Inc.* | 3,661 | 370,603 | ||||||
Quanta Services, Inc. | 5,216 | 474,134 | ||||||
Trane Technologies plc | 4,004 | 815,255 | ||||||
Trex Co., Inc.* | 4,690 | 455,399 | ||||||
Watsco, Inc. | 1,080 | 305,035 | ||||||
|
| |||||||
4,847,408 | ||||||||
|
| |||||||
Consumer Services — 0.5% | ||||||||
Copart, Inc.* | 4,735 | 696,045 | ||||||
Frontdoor, Inc.* | 13 | 636 | ||||||
Rollins, Inc. | 6,386 | 244,776 | ||||||
|
| |||||||
941,457 | ||||||||
|
| |||||||
Electricity — 1.8% | ||||||||
AES Corp. (The) | 19,957 | 472,981 | ||||||
Eversource Energy | 6,097 | 525,988 | ||||||
NextEra Energy, Inc. | 21,539 | 1,677,888 | ||||||
Southern Co. (The) | 5,952 | 380,154 | ||||||
Sunrun, Inc.* | 8,486 | 449,504 | ||||||
|
| |||||||
3,506,515 | ||||||||
|
| |||||||
Electronic & Electrical Equipment — 1.4% | ||||||||
Johnson Controls International plc | 11,533 | 823,687 | ||||||
Keysight Technologies, Inc.* | 3,999 | 658,035 | ||||||
Mettler-Toledo International, Inc.* | 473 | 697,065 | ||||||
Zebra Technologies Corp., Class A* | 1,143 | 631,485 | ||||||
|
| |||||||
2,810,272 | ||||||||
|
| |||||||
Finance & Credit Services — 1.5% | ||||||||
Ally Financial, Inc. | 9,911 | 509,029 | ||||||
Moody’s Corp. | 2,278 | 856,528 | ||||||
Morningstar, Inc. | 636 | 160,673 | ||||||
MSCI, Inc. | 1,447 | 862,354 | ||||||
OneMain Holdings, Inc. | 4,477 | 273,097 | ||||||
SLM Corp. | 20,910 | 393,735 | ||||||
|
| |||||||
3,055,416 | ||||||||
|
| |||||||
Food Producers — 1.9% | ||||||||
Archer-Daniels-Midland Co. | 8,861 | 529,179 | ||||||
Beyond Meat, Inc.*(a) | 1,634 | 200,492 | ||||||
Bunge Ltd. | 5,562 | 431,778 | ||||||
Conagra Brands, Inc. | 8,840 | 296,052 | ||||||
Corteva, Inc. | 14,385 | 615,390 | ||||||
Darling Ingredients, Inc.* | 6,026 | 416,216 | ||||||
Freshpet, Inc.* | 1,140 | 166,953 | ||||||
Hain Celestial Group, Inc. (The)* | 2,783 | 111,070 | ||||||
Herbalife Nutrition Ltd.* | 4,228 | 215,374 | ||||||
Kraft Heinz Co. (The) | 9,652 | 371,312 | ||||||
McCormick & Co., Inc. (Non-Voting) | 5,126 | 431,455 | ||||||
|
| |||||||
3,785,271 | ||||||||
|
| |||||||
Gas, Water & Multi-utilities — 0.6% | ||||||||
American Water Works Co., Inc. | 3,843 | 653,733 | ||||||
National Fuel Gas Co. | 2,290 | 117,774 | ||||||
WEC Energy Group, Inc. | 5,484 | 516,264 | ||||||
|
| |||||||
1,287,771 | ||||||||
|
| |||||||
General Industrials — 0.6% | ||||||||
AptarGroup, Inc. | 1,216 | 156,767 | ||||||
Crown Holdings, Inc. | 4,478 | 446,725 | ||||||
RPM International, Inc. | 4,111 | 355,971 | ||||||
Valmont Industries, Inc. | 609 | 144,303 | ||||||
|
| |||||||
1,103,766 | ||||||||
|
| |||||||
Health Care Providers — 2.6% | ||||||||
Acadia Healthcare Co., Inc.* | 1,543 | 95,234 | ||||||
Amedisys, Inc.* | 1,484 | 386,760 | ||||||
Chemed Corp. | 353 | 168,035 | ||||||
DaVita, Inc.* | 3,516 | 422,799 | ||||||
HCA Healthcare, Inc. | 1,468 | 364,358 | ||||||
Humana, Inc. | 1,760 | 749,514 | ||||||
Teladoc Health, Inc.* | 2,658 | 394,580 | ||||||
UnitedHealth Group, Inc. | 4,388 | 1,808,821 | ||||||
Veeva Systems, Inc., Class A* | 2,390 | 795,177 | ||||||
|
| |||||||
5,185,278 | ||||||||
|
| |||||||
Household Goods & Home Construction — 0.4% | ||||||||
DR Horton, Inc. | 2,941 | 280,660 | ||||||
PulteGroup, Inc. | 9,189 | 504,200 | ||||||
|
| |||||||
784,860 | ||||||||
|
| |||||||
Industrial Engineering — 1.8% | ||||||||
AGCO Corp. | 3,382 | 446,796 | ||||||
Caterpillar, Inc. | 6,249 | 1,291,981 |
JPMorgan U.S. Momentum Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Investments | Shares | Value ($) | ||||||
Deere & Co. | 3,440 | 1,243,869 | ||||||
Generac Holdings, Inc.* | 1,583 | 663,847 | ||||||
|
| |||||||
3,646,493 | ||||||||
|
| |||||||
Industrial Materials — 0.3% | ||||||||
Avery Dennison Corp. | 2,419 | 509,635 | ||||||
|
| |||||||
Industrial Metals & Mining — 0.4% | ||||||||
Fastenal Co. | 2,800 | 153,356 | ||||||
Freeport-McMoRan, Inc. | 15,982 | 608,914 | ||||||
|
| |||||||
762,270 | ||||||||
|
| |||||||
Industrial Support Services — 4.4% | ||||||||
American Express Co. | 3,296 | 562,067 | ||||||
Bill.Com Holdings, Inc.* | 2,785 | 575,994 | ||||||
Cintas Corp. | 1,576 | 621,228 | ||||||
Fair Isaac Corp.* | 910 | 476,758 | ||||||
Paylocity Holding Corp.* | 1,753 | 363,677 | ||||||
PayPal Holdings, Inc.* | 11,041 | 3,042,127 | ||||||
Square, Inc., Class A* | 4,841 | 1,196,986 | ||||||
Visa, Inc., Class A | 7,699 | 1,896,956 | ||||||
|
| |||||||
8,735,793 | ||||||||
|
| |||||||
Industrial Transportation — 2.6% | ||||||||
FedEx Corp. | 3,302 | 924,395 | ||||||
JB Hunt Transport Services, Inc. | 2,845 | 479,240 | ||||||
Kansas City Southern | 2,026 | 542,563 | ||||||
Norfolk Southern Corp. | 3,455 | 890,803 | ||||||
Old Dominion Freight Line, Inc. | 2,340 | 629,811 | ||||||
Ryder System, Inc. | 2,546 | 193,878 | ||||||
Schneider National, Inc., Class B | 13 | 292 | ||||||
United Parcel Service, Inc., Class B | 7,909 | 1,513,466 | ||||||
|
| |||||||
5,174,448 | ||||||||
|
| |||||||
Investment Banking & Brokerage Services — 5.1% | ||||||||
Affiliated Managers Group, Inc. | 2,665 | 422,243 | ||||||
Ameriprise Financial, Inc. | 1,706 | 439,397 | ||||||
Ares Management Corp. | 3,844 | 275,269 | ||||||
BlackRock, Inc. | 1,613 | 1,398,745 | ||||||
Broadridge Financial Solutions, Inc. | 2,877 | 499,131 | ||||||
Charles Schwab Corp. (The) | 13,428 | 912,433 | ||||||
Evercore, Inc., Class A | 2,970 | 392,634 | ||||||
Goldman Sachs Group, Inc. (The) | 3,072 | 1,151,631 | ||||||
Interactive Brokers Group, Inc., Class A | 2,940 | 181,868 | ||||||
Invesco Ltd. | 15,554 | 379,206 | ||||||
Jefferies Financial Group, Inc. | 13,498 | 447,999 | ||||||
KKR & Co., Inc. | 11,197 | 713,921 | ||||||
LPL Financial Holdings, Inc. | 3,313 | 467,265 | ||||||
Morgan Stanley | 15,602 | 1,497,480 | ||||||
Nasdaq, Inc. | 1,908 | 356,281 | ||||||
T. Rowe Price Group, Inc. | 2,731 | 557,561 | ||||||
Virtu Financial, Inc., Class A | 757 | 19,485 | ||||||
|
| |||||||
10,112,549 | ||||||||
|
| |||||||
Leisure Goods — 0.8% | ||||||||
Garmin Ltd. | 3,835 | 602,862 | ||||||
Pool Corp. | 1,190 | 568,606 | ||||||
Take-Two Interactive Software, Inc.* | 2,957 | 512,803 | ||||||
|
| |||||||
1,684,271 | ||||||||
|
| |||||||
Media — 0.4% | ||||||||
Trade Desk, Inc. (The), Class A* | 8,619 | 705,982 | ||||||
|
| |||||||
Medical Equipment & Services — 6.5% | ||||||||
10X Genomics, Inc., Class A* | 2,517 | 461,190 | ||||||
Agilent Technologies, Inc. | 5,136 | 786,989 | ||||||
Bio-Rad Laboratories, Inc., Class A* | 778 | 575,339 | ||||||
Bio-Techne Corp. | 1,167 | 562,774 | ||||||
Danaher Corp. | 6,826 | 2,030,667 | ||||||
Dexcom, Inc.* | 1,441 | 742,850 | ||||||
IDEXX Laboratories, Inc.* | 1,343 | 911,266 | ||||||
Insulet Corp.* | 1,807 | 505,400 | ||||||
Intuitive Surgical, Inc.* | 1,312 | 1,300,795 | ||||||
Masimo Corp.* | 370 | 100,784 | ||||||
Quest Diagnostics, Inc. | 3,613 | 512,323 | ||||||
Repligen Corp.* | 2,204 | 541,523 | ||||||
ResMed, Inc. | 2,765 | 751,527 | ||||||
STERIS plc | 644 | 140,360 | ||||||
Thermo Fisher Scientific, Inc. | 4,093 | 2,210,261 | ||||||
West Pharmaceutical Services, Inc. | 1,695 | 697,882 | ||||||
|
| |||||||
12,831,930 | ||||||||
|
| |||||||
Non-life Insurance — 2.1% | ||||||||
Aon plc, Class A | 3,058 | 795,172 | ||||||
Arthur J Gallagher & Co. | 4,270 | 594,854 | ||||||
Brown & Brown, Inc. | 8,451 | 459,734 | ||||||
Erie Indemnity Co., Class A | 680 | 125,725 | ||||||
Marsh & McLennan Cos., Inc. | 6,237 | 918,211 | ||||||
Progressive Corp. (The) | 8,853 | 842,452 | ||||||
Willis Towers Watson plc | 2,317 | 477,487 | ||||||
|
| |||||||
4,213,635 | ||||||||
|
| |||||||
Non-Renewable Energy — 1.9% | ||||||||
Antero Midstream Corp. | 35,432 | 336,604 | ||||||
Baker Hughes Co. | 11,492 | 244,090 | ||||||
Cheniere Energy, Inc.* | 4,003 | 339,975 | ||||||
Chevron Corp. | 11,188 | 1,139,050 | ||||||
Cimarex Energy Co. | 3,928 | 256,105 | ||||||
EQT Corp.* | 18,585 | 341,778 | ||||||
Hess Corp. | 4,790 | 366,148 | ||||||
Pioneer Natural Resources Co. | 2,432 | 353,540 | ||||||
Targa Resources Corp. | 4,390 | 184,863 | ||||||
Texas Pacific Land Corp. | 167 | 249,256 | ||||||
|
| |||||||
3,811,409 | ||||||||
|
| |||||||
Personal Care, Drug & Grocery Stores — 2.1% | ||||||||
Casey’s General Stores, Inc. | 1,512 | 298,938 | ||||||
Church & Dwight Co., Inc. | 5,447 | 471,601 | ||||||
Kroger Co. (The) | 14,652 | 596,336 | ||||||
Procter & Gamble Co. (The) | 18,270 | 2,598,542 | ||||||
Spectrum Brands Holdings, Inc. | 2,368 | 206,845 | ||||||
|
| |||||||
4,172,262 | ||||||||
|
| |||||||
Personal Goods — 2.1% | ||||||||
Capri Holdings Ltd.* | 7,927 | 446,369 | ||||||
Estee Lauder Cos., Inc. (The), Class A | 3,179 | 1,061,246 | ||||||
NIKE, Inc., Class B | 13,201 | 2,211,299 | ||||||
Tapestry, Inc.* | 10,773 | 455,698 | ||||||
|
| |||||||
4,174,612 | ||||||||
|
| |||||||
Pharmaceuticals, Biotechnology & Marijuana Producers — 4.3% | ||||||||
Acceleron Pharma, Inc.* | 3,071 | 384,059 | ||||||
Alnylam Pharmaceuticals, Inc.* | 2,898 | 518,568 | ||||||
Bristol-Myers Squibb Co. | 8,370 | 568,072 | ||||||
Catalent, Inc.* | 4,497 | 538,786 | ||||||
Charles River Laboratories International, Inc.* | 1,261 | 513,126 | ||||||
Eli Lilly & Co. | 7,836 | 1,908,066 | ||||||
Guardant Health, Inc.* | 172 | 18,886 |
JPMorgan U.S. Momentum Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Investments | Shares | Value ($) | ||||||
Horizon Therapeutics plc* | 5,458 | 545,909 | ||||||
Moderna, Inc.* | 4,262 | 1,507,043 | ||||||
Seagen, Inc.* | 2,829 | 433,940 | ||||||
United Therapeutics Corp.* | 1,949 | 354,582 | ||||||
Zoetis, Inc. | 5,999 | 1,215,997 | ||||||
|
| |||||||
8,507,034 | ||||||||
|
| |||||||
Precious Metals & Mining — 0.3% | ||||||||
Newmont Corp. | 8,539 | 536,420 | ||||||
|
| |||||||
Real Estate Investment & Services — 0.9% | ||||||||
CBRE Group, Inc., Class A* | 6,566 | 633,356 | ||||||
CoStar Group, Inc.* | 7,277 | 646,562 | ||||||
Zillow Group, Inc., Class C* | 4,003 | 425,359 | ||||||
|
| |||||||
1,705,277 | ||||||||
|
| |||||||
Real Estate Investment Trusts — 2.4% | ||||||||
Alexandria Real Estate Equities, Inc. | 2,370 | 477,176 | ||||||
Crown Castle International Corp. | 4,610 | 890,145 | ||||||
CyrusOne, Inc. | 877 | 62,504 | ||||||
Gaming and Leisure Properties, Inc. | 5,591 | 264,678 | ||||||
Invitation Homes, Inc. | 12,473 | 507,402 | ||||||
Iron Mountain, Inc. | 10,473 | 458,298 | ||||||
Life Storage, Inc. | 2,800 | 328,608 | ||||||
Medical Properties Trust, Inc. | 4,552 | 95,728 | ||||||
Omega Healthcare Investors, Inc. | 510 | 18,503 | ||||||
Prologis, Inc. | 8,162 | 1,045,062 | ||||||
Weyerhaeuser Co. | 16,826 | 567,541 | ||||||
|
| |||||||
4,715,645 | ||||||||
|
| |||||||
Renewable Energy — 0.7% | ||||||||
Enphase Energy, Inc.* | 3,208 | 608,237 | ||||||
First Solar, Inc.* | 5,216 | 448,785 | ||||||
Plug Power, Inc.* | 9,688 | 264,288 | ||||||
|
| |||||||
1,321,310 | ||||||||
|
| |||||||
Retailers — 7.5% | ||||||||
Amazon.com, Inc.* | 1,048 | 3,487,314 | ||||||
Burlington Stores, Inc.* | 1,503 | 503,204 | ||||||
Costco Wholesale Corp. | 4,356 | 1,871,860 | ||||||
Dick’s Sporting Goods, Inc. | 2,361 | 245,874 | ||||||
Etsy, Inc.* | 2,707 | 496,762 | ||||||
GameStop Corp., Class A*(a) | 2,097 | 337,869 | ||||||
Gap, Inc. (The) | 13,265 | 386,940 | ||||||
Home Depot, Inc. (The) | 10,178 | 3,340,318 | ||||||
L Brands, Inc. | 7,548 | 604,368 | ||||||
O’Reilly Automotive, Inc.* | 532 | 321,243 | ||||||
Qurate Retail, Inc., Series A | 13,708 | 162,577 | ||||||
Target Corp. | 5,737 | 1,497,644 | ||||||
TJX Cos., Inc. (The) | 13,781 | 948,271 | ||||||
Wayfair, Inc., Class A*(a) | 1,108 | 267,427 | ||||||
Williams-Sonoma, Inc. | 2,340 | 354,978 | ||||||
|
| |||||||
14,826,649 | ||||||||
|
| |||||||
Software & Computer Services — 16.3% | ||||||||
Adobe, Inc.* | 4,583 | 2,848,930 | ||||||
Anaplan, Inc.* | 4,678 | 267,582 | ||||||
ANSYS, Inc.* | 1,837 | 676,861 | ||||||
Atlassian Corp. plc, Class A* | 2,513 | 817,027 | ||||||
Autodesk, Inc.* | 3,180 | 1,021,193 | ||||||
Avalara, Inc.* | 2,784 | 465,401 | ||||||
Black Knight, Inc.* | 195 | 16,148 | ||||||
Cadence Design Systems, Inc.* | 5,021 | 741,351 | ||||||
Ceridian HCM Holding, Inc.* | 4,803 | 472,615 | ||||||
Cloudflare, Inc., Class A* | 5,348 | 634,433 | ||||||
Coupa Software, Inc.* | 1,830 | 397,110 | ||||||
Crowdstrike Holdings, Inc., Class A* | 2,951 | 748,403 | ||||||
Datadog, Inc., Class A* | 5,234 | 579,404 | ||||||
Dell Technologies, Inc., Class C* | 5,880 | 568,126 | ||||||
DocuSign, Inc.* | 2,576 | 767,751 | ||||||
Dolby Laboratories, Inc., Class A | 395 | 38,355 | ||||||
DXC Technology Co.* | 8,754 | 349,985 | ||||||
Dynatrace, Inc.* | 7,890 | 503,934 | ||||||
EPAM Systems, Inc.* | 1,183 | 662,243 | ||||||
Everbridge, Inc.* | 622 | 87,839 | ||||||
Fastly, Inc., Class A*(a) | 5,189 | 249,435 | ||||||
Five9, Inc.* | 2,815 | 566,631 | ||||||
HubSpot, Inc.* | 1,072 | 638,933 | ||||||
InterActiveCorp.* | 3,086 | 423,677 | ||||||
Intuit, Inc. | 2,797 | 1,482,326 | ||||||
Manhattan Associates, Inc.* | 2,409 | 384,549 | ||||||
Match Group, Inc.* | 3,904 | 621,790 | ||||||
Microsoft Corp. | 13,802 | 3,932,328 | ||||||
MongoDB, Inc.* | 1,361 | 488,490 | ||||||
NCR Corp.* | 4,809 | 213,520 | ||||||
Nuance Communications, Inc.* | 9,184 | 504,202 | ||||||
Okta, Inc.* | 2,542 | 629,882 | ||||||
Palo Alto Networks, Inc.* | 1,815 | 724,276 | ||||||
Paycom Software, Inc.* | 1,145 | 458,000 | ||||||
Pegasystems, Inc. | 2,782 | 355,095 | ||||||
Pinterest, Inc., Class A* | 10,032 | 590,885 | ||||||
salesforce.com, Inc.* | 8,965 | 2,168,902 | ||||||
ServiceNow, Inc.* | 2,254 | 1,325,104 | ||||||
Smartsheet, Inc., Class A* | 1,078 | 78,209 | ||||||
Synopsys, Inc.* | 2,684 | 772,965 | ||||||
Twilio, Inc., Class A* | 2,270 | 848,049 | ||||||
Twitter, Inc.* | 1,465 | 102,184 | ||||||
Tyler Technologies, Inc.* | 1,121 | 552,249 | ||||||
Vimeo, Inc.* | 3,254 | 145,779 | ||||||
Zoom Video Communications, Inc., Class A* | 2,278 | 861,312 | ||||||
Zscaler, Inc.* | 2,410 | 568,543 | ||||||
|
| |||||||
32,352,006 | ||||||||
|
| |||||||
Technology Hardware & Equipment — 12.0% | ||||||||
Advanced Micro Devices, Inc.* | 14,428 | 1,532,109 | ||||||
Apple, Inc. | 24,737 | 3,608,139 | ||||||
Applied Materials, Inc. | 10,342 | 1,447,156 | ||||||
Broadcom, Inc. | 4,064 | 1,972,666 | ||||||
Cirrus Logic, Inc.* | 1,080 | 89,197 | ||||||
Corning, Inc. | 14,995 | 627,691 | ||||||
Cree, Inc.* | 4,311 | 399,888 | ||||||
Entegris, Inc. | 4,336 | 523,095 | ||||||
HP, Inc. | 10,909 | 314,943 | ||||||
KLA Corp. | 2,472 | 860,652 | ||||||
Lam Research Corp. | 1,767 | 1,126,303 | ||||||
Marvell Technology, Inc. | 13,892 | 840,605 | ||||||
Monolithic Power Systems, Inc. | 1,394 | 626,268 | ||||||
NVIDIA Corp. | 20,984 | 4,091,670 | ||||||
NXP Semiconductors NV (China) | 3,860 | 796,665 | ||||||
ON Semiconductor Corp.* | 13,430 | 524,576 | ||||||
Qorvo, Inc.* | 1,815 | 344,106 | ||||||
QUALCOMM, Inc. | 6,341 | 949,882 | ||||||
Skyworks Solutions, Inc. | 3,370 | 621,799 |
JPMorgan U.S. Momentum Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Investments | Shares | Value ($) | ||||||
SYNNEX Corp. | 1,095 | 130,896 | ||||||
Teradyne, Inc. | 4,306 | 546,862 | ||||||
Texas Instruments, Inc. | 9,354 | 1,783,060 | ||||||
Universal Display Corp. | 275 | 64,485 | ||||||
|
| |||||||
23,822,713 | ||||||||
|
| |||||||
Telecommunications Equipment — 0.4% | ||||||||
Arista Networks, Inc.* | 1,015 | 386,096 | ||||||
Motorola Solutions, Inc. | 1,082 | 242,281 | ||||||
Ubiquiti, Inc. | 568 | 177,841 | ||||||
|
| |||||||
806,218 | ||||||||
|
| |||||||
Telecommunications Service Providers — 2.8% | ||||||||
Charter Communications, Inc., Class A* | 1,637 | 1,218,010 | ||||||
Comcast Corp., Class A | 12,426 | 731,022 | ||||||
Liberty Broadband Corp., Class C* | 3,569 | 633,462 | ||||||
Roku, Inc.* | 2,037 | 872,467 | ||||||
T-Mobile US, Inc.* | 6,796 | 978,760 | ||||||
Verizon Communications, Inc. | 20,799 | 1,160,168 | ||||||
|
| |||||||
5,593,889 | ||||||||
|
| |||||||
Tobacco — 0.1% | ||||||||
Altria Group, Inc. | 4,304 | 206,764 | ||||||
|
| |||||||
Travel & Leisure — 2.4% | ||||||||
Boyd Gaming Corp.* | 5,259 | 299,763 | ||||||
Chipotle Mexican Grill, Inc.* | 496 | 924,266 | ||||||
Choice Hotels International, Inc. | 1,543 | 185,006 | ||||||
Hilton Worldwide Holdings, Inc.* | 4,307 | 566,155 | ||||||
Peloton Interactive, Inc., Class A* | 5,308 | 626,609 | ||||||
Starbucks Corp. | 12,947 | 1,572,154 | ||||||
Yum China Holdings, Inc. (China) | 8,397 | 522,210 | ||||||
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4,696,163 | ||||||||
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Waste & Disposal Services — 0.3% | ||||||||
Republic Services, Inc. | 4,437 | 525,163 | ||||||
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| |||||||
TOTAL COMMON STOCKS |
| 198,230,007 | ||||||
|
| |||||||
SHORT-TERM INVESTMENTS — 0.6% | ||||||||
INVESTMENT COMPANIES — 0.0%(b) | ||||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(c)(d)(Cost $100,389) | 100,389 | 100,389 | ||||||
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INVESTMENT OF CASH COLLATERAL FROM SECURITIES LOANED — 0.6% | ||||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(c)(d)(Cost $1,178,781) | 1,178,781 | 1,178,781 | ||||||
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TOTAL SHORT-TERM INVESTMENTS | 1,279,170 | |||||||
|
| |||||||
Total Investments — 100.6% |
| 199,509,177 | ||||||
Liabilities in Excess of Other Assets — (0.6%) |
| (1,094,256 | ) | |||||
|
| |||||||
Net Assets — 100.0% |
| 198,414,921 | ||||||
|
|
Percentages indicated are based on net assets.
(a) | The security or a portion of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 is $1,116,197. |
(b) | Amount rounds to less than 0.1% of net assets. |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(d) | The rate shown is the current yield as of July 31, 2021. |
* | Non-income producing security. |
JPMorgan U.S. Momentum Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Futures contracts outstanding as of July 31, 2021: |
| |||||||||||||||||
Description | Number of Contracts | Expiration Date | Trading Currency | Notional Amount ($) | Value and Unrealized Appreciation (Depreciation) ($) | |||||||||||||
Long Contracts |
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Micro E-Mini S&P 500 Index | 6 | 09/2021 | USD | 131,670 | 3,078 | |||||||||||||
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Abbreviations | ||
USD | United States Dollar |
JPMorgan U.S. Momentum Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
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.
J.P. Morgan Investment Management Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This 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.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Futures contracts are generally valued on the basis of available market quotations.
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”):
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |||||||||||||
Total Investments in Securities(a) | $ | 199,509,177 | $ | — | $ | — | $ | 199,509,177 | ||||||||
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Appreciation in Other Financial Instruments | ||||||||||||||||
Futures Contracts(a) | $ | 3,078 | $ | — | $ | — | $ | 3,078 | ||||||||
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(a) | Please refer to the SOI for specifics of portfolio holdings. |
B. Investment Transactions with Affiliates — The Fund invested in Underlying Funds, which are 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. 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 July 31, 2021 | ||||||||||||||||||||||||||||||||||||
Security Description | Value at October 31, 2020 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at July 31, 2021 | Shares at July 31, 2021 | Dividend Income | Capital Gain Distributions | |||||||||||||||||||||||||||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares(a) | $ | 399,860 | $ | — | $ | 399,860 | $ | (50 | ) | $ | 50 | $ | — | — | $ | 71 | $ | — | ||||||||||||||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, | — | 1,913,212 | 1,812,823 | — | — | 100,389 | 100,389 | 12 | — | |||||||||||||||||||||||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, | 800,674 | 12,201,093 | 11,822,986 | — | — | 1,178,781 | 1,178,781 | 139 | — | |||||||||||||||||||||||||||
JPMorgan U.S. Government Money Market Fund Class Institutional Shares(a) | 205,755 | 3,127,882 | 3,333,637 | — | — | — | — | 28 | — | |||||||||||||||||||||||||||
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Total | $ | 1,406,289 | $ | 17,242,187 | $ | 17,369,306 | $ | (50 | ) | $ | 50 | $ | 1,279,170 | $ | 250 | $ | — | |||||||||||||||||||
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(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. |
(b) | The rate shown is the current yield as of July 31, 2021. |