JPMorgan BetaBuilders U.S. Small Cap Equity ETF
Schedule of Portfolio Investments as of July 31, 2023
(Unaudited)
THE “UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS” LIST (“the List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR SALES LITERATURE WITH THE GENERAL PUBLIC. The list is submitted for the general information of the shareholders of the Fund. It is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by a prospectus. The list has been created from the books and records of the Fund. Holdings are available 60 days after the fund’s fiscal quarter, using a trade date accounting convention, by contacting the appropriate service center. The list is subject to change without notice. The list is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. |
JPMorgan Asset Management is the marketing name for the asset management business of J.P. Morgan Chase & Co. |
J.P. Morgan Distribution Services, Inc., member FINRA. |
© J.P. Morgan Chase & Co., 2023. |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.6% | ||
Aerospace & Defense — 1.2% | ||
AAR Corp. * | 20,410 | 1,220,518 |
AeroVironment, Inc. * | 15,652 | 1,491,009 |
AerSale Corp. * | 9,519 | 142,880 |
Cadre Holdings, Inc. | 9,545 | 222,112 |
Kaman Corp. | 17,449 | 399,408 |
Kratos Defense & Security Solutions, Inc. * | 79,042 | 1,192,744 |
Mercury Systems, Inc. * | 36,036 | 1,368,647 |
Moog, Inc., Class A | 17,798 | 1,876,621 |
Rocket Lab USA, Inc. * | 136,381 | 1,005,128 |
Triumph Group, Inc. * | 40,275 | 509,479 |
V2X, Inc. * | 6,904 | 355,280 |
Virgin Galactic Holdings, Inc. * (a) | 152,268 | 651,707 |
10,435,533 | ||
Air Freight & Logistics — 0.5% | ||
Air Transport Services Group, Inc. * | 34,592 | 697,375 |
Forward Air Corp. | 16,090 | 1,912,136 |
Hub Group, Inc., Class A * | 20,295 | 1,829,188 |
4,438,699 | ||
Automobile Components — 1.8% | ||
American Axle & Manufacturing Holdings, Inc. * | 72,477 | 684,908 |
Dana, Inc. | 79,571 | 1,510,258 |
Dorman Products, Inc. * | 17,534 | 1,484,954 |
Gentherm, Inc. * | 20,533 | 1,227,257 |
LCI Industries | 15,672 | 2,135,623 |
Luminar Technologies, Inc. * (a) | 152,944 | 1,131,786 |
Mobileye Global, Inc., Class A (Israel) * (a) | 47,236 | 1,803,471 |
Patrick Industries, Inc. | 13,122 | 1,135,709 |
QuantumScape Corp. * (a) | 180,558 | 2,403,227 |
Standard Motor Products, Inc. | 11,684 | 445,978 |
XPEL, Inc. * (b) | 12,157 | 987,513 |
14,950,684 | ||
Automobiles — 0.2% | ||
Fisker, Inc. * (a) | 107,852 | 665,447 |
Winnebago Industries, Inc. | 18,935 | 1,302,728 |
1,968,175 | ||
Banks — 9.9% | ||
1st Source Corp. | 10,561 | 495,311 |
Amalgamated Financial Corp. | 11,012 | 219,800 |
Amerant Bancorp, Inc. | 15,906 | 315,257 |
Ameris Bancorp | 40,393 | 1,763,154 |
Associated Banc-Corp. | 93,476 | 1,771,370 |
Atlantic Union Bankshares Corp. | 46,459 | 1,485,759 |
Axos Financial, Inc. * | 32,585 | 1,531,495 |
Banc of California, Inc. | 33,173 | 471,388 |
BancFirst Corp. | 10,793 | 1,078,221 |
Bancorp, Inc. (The) * | 33,864 | 1,283,446 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Banks — continued | ||
Bank of Hawaii Corp. (a) | 24,566 | 1,403,456 |
BankUnited, Inc. | 46,084 | 1,375,147 |
Banner Corp. | 21,270 | 1,012,665 |
Berkshire Hills Bancorp, Inc. | 27,429 | 625,655 |
Brookline Bancorp, Inc. | 54,373 | 580,704 |
Capitol Federal Financial, Inc. | 78,440 | 520,057 |
Cathay General Bancorp | 44,927 | 1,709,023 |
City Holding Co. | 9,346 | 924,413 |
Columbia Financial, Inc. * | 19,660 | 343,657 |
Community Bank System, Inc. | 33,270 | 1,790,924 |
Community Trust Bancorp, Inc. | 9,472 | 363,535 |
Customers Bancorp, Inc. * | 18,182 | 763,280 |
CVB Financial Corp. | 81,114 | 1,530,621 |
Dime Community Bancshares, Inc. | 20,193 | 452,323 |
Eagle Bancorp, Inc. | 19,028 | 527,076 |
Eastern Bankshares, Inc. | 99,384 | 1,403,302 |
Enterprise Financial Services Corp. | 23,105 | 947,305 |
FB Financial Corp. | 21,741 | 770,066 |
First Bancorp (a) | 25,383 | 839,670 |
First BanCorp (Puerto Rico) | 111,347 | 1,653,503 |
First Busey Corp. | 31,863 | 690,153 |
First Commonwealth Financial Corp. | 63,744 | 920,463 |
First Financial Bancorp | 58,938 | 1,360,878 |
First Hawaiian, Inc. | 79,038 | 1,635,296 |
First Interstate BancSystem, Inc., Class A | 54,955 | 1,578,857 |
First Merchants Corp. | 36,970 | 1,187,476 |
Fulton Financial Corp. | 102,514 | 1,465,950 |
German American Bancorp, Inc. | 17,228 | 507,537 |
Heartland Financial USA, Inc. | 23,467 | 805,857 |
Heritage Financial Corp. | 21,727 | 407,599 |
Hilltop Holdings, Inc. | 28,597 | 884,505 |
Hope Bancorp, Inc. | 74,269 | 806,561 |
Independent Bank Corp. | 27,340 | 1,647,235 |
Independent Bank Group, Inc. | 21,984 | 986,422 |
International Bancshares Corp. | 32,694 | 1,622,930 |
Kearny Financial Corp. | 40,934 | 351,623 |
Lakeland Bancorp, Inc. | 40,280 | 608,631 |
Lakeland Financial Corp. | 15,750 | 873,180 |
Live Oak Bancshares, Inc. (a) | 20,596 | 779,971 |
National Bank Holdings Corp., Class A | 23,370 | 802,993 |
NBT Bancorp, Inc. | 26,564 | 988,181 |
Nicolet Bankshares, Inc. | 8,302 | 694,462 |
Northfield Bancorp, Inc. | 25,356 | 308,836 |
Northwest Bancshares, Inc. | 78,695 | 972,670 |
OceanFirst Financial Corp. | 36,856 | 686,627 |
OFG Bancorp (Puerto Rico) | 29,425 | 985,443 |
Origin Bancorp, Inc. | 18,104 | 590,190 |
Pacific Premier Bancorp, Inc. | 59,346 | 1,515,697 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Banks — continued | ||
PacWest Bancorp | 73,103 | 679,858 |
Park National Corp. | 8,922 | 994,981 |
Pathward Financial, Inc. | 16,679 | 866,641 |
Preferred Bank | 8,194 | 541,460 |
Premier Financial Corp. | 22,116 | 479,033 |
Provident Financial Services, Inc. | 46,740 | 866,560 |
Renasant Corp. | 34,747 | 1,075,072 |
Republic Bancorp, Inc., Class A | 5,559 | 254,769 |
S&T Bancorp, Inc. | 24,136 | 762,215 |
Sandy Spring Bancorp, Inc. | 27,756 | 679,189 |
Seacoast Banking Corp. of Florida | 51,869 | 1,281,683 |
ServisFirst Bancshares, Inc. (a) | 30,262 | 1,806,036 |
Simmons First National Corp., Class A (a) | 78,880 | 1,592,587 |
Southside Bancshares, Inc. | 18,184 | 603,891 |
Stellar Bancorp, Inc. | 28,063 | 697,646 |
Stock Yards Bancorp, Inc. | 18,151 | 867,799 |
Texas Capital Bancshares, Inc. * | 29,656 | 1,893,536 |
Tompkins Financial Corp. (a) | 7,826 | 470,812 |
Towne Bank | 42,060 | 1,063,277 |
TriCo Bancshares | 20,579 | 769,243 |
Triumph Financial, Inc. * | 13,600 | 964,376 |
Trustmark Corp. | 37,813 | 992,969 |
United Community Banks, Inc. | 71,324 | 2,073,389 |
Veritex Holdings, Inc. | 33,605 | 722,844 |
Washington Federal, Inc. | 40,763 | 1,265,284 |
WesBanco, Inc. | 36,685 | 1,027,547 |
Westamerica BanCorp | 16,493 | 811,291 |
WSFS Financial Corp. | 38,067 | 1,665,431 |
84,387,225 | ||
Beverages — 0.2% | ||
Duckhorn Portfolio, Inc. (The) * | 26,404 | 332,162 |
MGP Ingredients, Inc. | 9,543 | 1,087,998 |
Vita Coco Co., Inc. (The) * | 14,990 | 396,036 |
1,816,196 | ||
Biotechnology — 6.3% | ||
Agios Pharmaceuticals, Inc. * | 34,416 | 912,712 |
Akero Therapeutics, Inc. * | 22,923 | 994,858 |
Alector, Inc. * | 38,202 | 262,066 |
Allogene Therapeutics, Inc. * (a) | 56,898 | 282,214 |
AnaptysBio, Inc. * (a) | 11,470 | 226,074 |
Arcellx, Inc. * | 18,436 | 631,433 |
Arcus Biosciences, Inc. * | 32,600 | 648,740 |
Arcutis Biotherapeutics, Inc. * | 25,117 | 274,026 |
Ardelyx, Inc. * | 132,846 | 523,413 |
Aurinia Pharmaceuticals, Inc. (Canada) * (a) | 88,599 | 1,025,976 |
Avid Bioservices, Inc. * (a) | 38,740 | 490,448 |
Avidity Biosciences, Inc. * | 43,860 | 417,109 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Biotechnology — continued | ||
Beam Therapeutics, Inc. * (a) | 39,666 | 1,224,489 |
BioCryst Pharmaceuticals, Inc. * | 117,040 | 864,926 |
Biohaven Ltd. * (a) | 39,730 | 789,832 |
Bridgebio Pharma, Inc. * | 73,563 | 2,575,441 |
Catalyst Pharmaceuticals, Inc. * | 60,403 | 835,373 |
Celldex Therapeutics, Inc. * | 29,263 | 1,034,740 |
Chinook Therapeutics, Inc. * | 29,012 | 1,136,690 |
Cogent Biosciences, Inc. * | 51,684 | 671,375 |
Coherus Biosciences, Inc. * | 41,419 | 199,640 |
Day One Biopharmaceuticals, Inc. * | 25,280 | 334,707 |
Deciphera Pharmaceuticals, Inc. * | 35,498 | 479,933 |
Dynavax Technologies Corp. * | 74,018 | 1,035,512 |
Editas Medicine, Inc. * | 42,731 | 375,178 |
Enanta Pharmaceuticals, Inc. * | 12,264 | 232,648 |
EQRx, Inc. * | 141,884 | 242,622 |
Fate Therapeutics, Inc. * | 51,789 | 213,889 |
FibroGen, Inc. * | 56,206 | 115,784 |
ImmunityBio, Inc. * (a) | 86,416 | 190,115 |
ImmunoGen, Inc. * | 144,275 | 2,570,980 |
Immunovant, Inc. * | 34,695 | 792,087 |
Inhibrx, Inc. * | 18,634 | 373,612 |
Insmed, Inc. * (a) | 84,519 | 1,867,025 |
Iovance Biotherapeutics, Inc. * | 133,234 | 967,279 |
Ironwood Pharmaceuticals, Inc. * | 83,707 | 928,311 |
Janux Therapeutics, Inc. * (a) | 10,871 | 152,194 |
Keros Therapeutics, Inc. * | 11,558 | 484,049 |
Krystal Biotech, Inc. * | 13,426 | 1,733,297 |
Kura Oncology, Inc. * | 38,984 | 406,993 |
Kymera Therapeutics, Inc. * | 24,312 | 531,947 |
Lyell Immunopharma, Inc. * (a) | 89,679 | 259,172 |
Mirati Therapeutics, Inc. * | 32,443 | 982,050 |
Morphic Holding, Inc. * | 22,295 | 1,264,795 |
Myriad Genetics, Inc. * | 50,514 | 1,128,988 |
Novavax, Inc. * (a) | 53,449 | 496,007 |
Nuvalent, Inc., Class A * | 16,220 | 808,567 |
OmniAb Operations, Inc. ‡ * | 2,112 | — |
Protagonist Therapeutics, Inc. * | 33,321 | 646,427 |
Prothena Corp. plc (Ireland) * | 25,165 | 1,733,114 |
Recursion Pharmaceuticals, Inc., Class A * (a) | 82,334 | 1,162,556 |
REGENXBIO, Inc. * | 23,431 | 445,189 |
Relay Therapeutics, Inc. * | 55,732 | 702,223 |
Replimune Group, Inc. * | 22,821 | 480,838 |
REVOLUTION Medicines, Inc. * | 57,287 | 1,503,784 |
Rhythm Pharmaceuticals, Inc. * (a) | 27,834 | 496,559 |
Rocket Pharmaceuticals, Inc. * | 36,888 | 665,828 |
Sage Therapeutics, Inc. * | 32,192 | 1,116,419 |
Sana Biotechnology, Inc. * (a) | 54,556 | 319,698 |
Seres Therapeutics, Inc. * (a) | 58,610 | 281,914 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Biotechnology — continued | ||
SpringWorks Therapeutics, Inc. * | 27,496 | 862,824 |
Syndax Pharmaceuticals, Inc. * | 40,491 | 863,268 |
Travere Therapeutics, Inc. * (a) | 40,652 | 698,808 |
Twist Bioscience Corp. * | 35,394 | 861,490 |
Veracyte, Inc. * | 44,857 | 1,231,325 |
Vericel Corp. * | 29,446 | 1,057,700 |
Verve Therapeutics, Inc. * | 26,065 | 534,072 |
Viking Therapeutics, Inc. * (a) | 55,651 | 806,940 |
Viridian Therapeutics, Inc. * | 26,728 | 501,417 |
Xencor, Inc. * | 37,417 | 908,859 |
Zentalis Pharmaceuticals, Inc. * | 35,375 | 944,866 |
53,815,434 | ||
Broadline Retail — 0.4% | ||
Kohl's Corp. | 68,588 | 1,951,328 |
Nordstrom, Inc. (a) | 69,999 | 1,617,677 |
3,569,005 | ||
Building Products — 1.6% | ||
American Woodmark Corp. * | 10,292 | 788,779 |
Apogee Enterprises, Inc. | 13,816 | 684,306 |
AZZ, Inc. | 15,415 | 683,347 |
Gibraltar Industries, Inc. * | 18,850 | 1,219,029 |
Griffon Corp. | 29,397 | 1,226,443 |
Hayward Holdings, Inc. * | 85,688 | 1,144,792 |
Janus International Group, Inc. * | 49,068 | 560,357 |
JELD-WEN Holding, Inc. * | 52,638 | 937,483 |
Masonite International Corp. * | 13,684 | 1,430,662 |
Masterbrand, Inc. * | 79,604 | 983,109 |
PGT Innovations, Inc. * | 36,378 | 1,040,775 |
Quanex Building Products Corp. | 20,598 | 579,628 |
Resideo Technologies, Inc. * | 91,110 | 1,705,579 |
Tecnoglass, Inc. | 12,399 | 583,745 |
13,568,034 | ||
Capital Markets — 2.2% | ||
Artisan Partners Asset Management, Inc., Class A | 42,415 | 1,759,798 |
AssetMark Financial Holdings, Inc. * | 13,255 | 396,325 |
Avantax, Inc. * | 23,914 | 618,894 |
B. Riley Financial, Inc. (a) | 9,747 | 541,251 |
BGC Group, Inc., Class A | 210,215 | 1,000,623 |
Brightsphere Investment Group, Inc. | 20,042 | 426,494 |
Donnelley Financial Solutions, Inc. * | 15,678 | 741,569 |
Hamilton Lane, Inc., Class A | 22,469 | 1,986,934 |
Moelis & Co., Class A (a) | 41,216 | 2,012,577 |
Open Lending Corp. * | 62,043 | 700,465 |
Piper Sandler Cos. | 9,131 | 1,336,413 |
PJT Partners, Inc., Class A | 15,350 | 1,217,409 |
StepStone Group, Inc., Class A | 30,355 | 852,065 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Capital Markets — continued | ||
StoneX Group, Inc. * | 10,907 | 1,003,553 |
TPG, Inc. (a) | 32,201 | 947,675 |
Victory Capital Holdings, Inc., Class A | 16,556 | 548,997 |
Virtu Financial, Inc., Class A | 54,969 | 1,020,225 |
Virtus Investment Partners, Inc. | 4,257 | 875,793 |
WisdomTree, Inc. (a) | 70,258 | 488,996 |
18,476,056 | ||
Chemicals — 1.4% | ||
AdvanSix, Inc. | 17,061 | 684,317 |
Ecovyst, Inc. * | 43,883 | 539,322 |
Ginkgo Bioworks Holdings, Inc. * (a) | 675,433 | 1,695,337 |
Ingevity Corp. * | 21,163 | 1,354,855 |
Innospec, Inc. | 15,390 | 1,648,885 |
Kronos Worldwide, Inc. (a) | 13,537 | 126,571 |
LSB Industries, Inc. * | 29,233 | 326,533 |
Mativ Holdings, Inc. | 33,984 | 534,908 |
Minerals Technologies, Inc. | 20,160 | 1,236,816 |
Perimeter Solutions SA * | 91,433 | 508,367 |
PureCycle Technologies, Inc. * (a) | 82,105 | 972,123 |
Stepan Co. | 13,133 | 1,258,404 |
Trinseo plc | 21,776 | 383,693 |
Tronox Holdings plc | 71,837 | 954,714 |
12,224,845 | ||
Commercial Services & Supplies — 2.1% | ||
ABM Industries, Inc. | 40,947 | 1,895,027 |
ACV Auctions, Inc., Class A * | 79,805 | 1,395,789 |
Brady Corp., Class A | 28,570 | 1,473,641 |
BrightView Holdings, Inc. * | 23,735 | 182,997 |
Brink's Co. (The) | 28,748 | 2,097,454 |
Cimpress plc (Ireland) * (a) | 12,235 | 850,332 |
CoreCivic, Inc. * | 70,385 | 682,735 |
Deluxe Corp. | 26,921 | 511,230 |
GEO Group, Inc. (The) * (a) | 78,056 | 583,078 |
Healthcare Services Group, Inc. | 45,960 | 579,556 |
HNI Corp. | 28,742 | 836,105 |
Matthews International Corp., Class A | 18,877 | 866,454 |
MillerKnoll, Inc. | 46,830 | 916,463 |
Montrose Environmental Group, Inc. * | 17,154 | 694,222 |
OPENLANE, Inc. * | 67,658 | 1,062,231 |
Pitney Bowes, Inc. | 101,159 | 398,566 |
SP Plus Corp. * | 12,170 | 467,937 |
Steelcase, Inc., Class A | 57,930 | 496,460 |
UniFirst Corp. | 9,366 | 1,520,102 |
17,510,379 | ||
Communications Equipment — 1.2% | ||
ADTRAN Holdings, Inc. | 44,334 | 431,370 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Communications Equipment — continued | ||
Clearfield, Inc. * (a) | 7,843 | 366,582 |
CommScope Holding Co., Inc. * | 129,957 | 584,806 |
Digi International, Inc. * | 22,231 | 932,146 |
Extreme Networks, Inc. * | 79,889 | 2,124,249 |
Harmonic, Inc. * | 68,976 | 1,029,122 |
Infinera Corp. * (a) | 121,590 | 547,155 |
NetScout Systems, Inc. * | 41,743 | 1,166,717 |
Viasat, Inc. * (a) | 47,296 | 1,463,338 |
Viavi Solutions, Inc. * | 137,799 | 1,497,875 |
10,143,360 | ||
Construction & Engineering — 1.0% | ||
Ameresco, Inc., Class A * | 21,145 | 1,230,850 |
Construction Partners, Inc., Class A * | 25,633 | 753,610 |
Dycom Industries, Inc. * | 18,170 | 1,809,369 |
Granite Construction, Inc. (a) | 27,166 | 1,111,904 |
MYR Group, Inc. * | 10,335 | 1,473,358 |
Primoris Services Corp. | 33,009 | 1,048,366 |
Sterling Infrastructure, Inc. * | 19,072 | 1,144,129 |
8,571,586 | ||
Construction Materials — 0.0% ^ | ||
United States Lime & Minerals, Inc. | 1,261 | 259,274 |
Consumer Finance — 1.4% | ||
Bread Financial Holdings, Inc. | 31,034 | 1,290,083 |
Encore Capital Group, Inc. * | 14,547 | 778,265 |
Enova International, Inc. * | 19,320 | 1,064,339 |
Green Dot Corp., Class A * | 28,684 | 560,772 |
LendingClub Corp. * | 66,577 | 558,581 |
Navient Corp. | 61,103 | 1,163,401 |
Nelnet, Inc., Class A | 11,151 | 1,100,381 |
PRA Group, Inc. * | 24,255 | 578,724 |
PROG Holdings, Inc. * | 28,966 | 1,175,440 |
Upstart Holdings, Inc. * (a) | 44,023 | 3,023,940 |
World Acceptance Corp. * | 2,082 | 328,727 |
11,622,653 | ||
Consumer Staples Distribution & Retail — 0.9% | ||
Andersons, Inc. (The) | 19,501 | 952,039 |
Chefs' Warehouse, Inc. (The) * | 21,803 | 792,321 |
Grocery Outlet Holding Corp. * | 55,408 | 1,853,397 |
Ingles Markets, Inc., Class A | 8,927 | 757,010 |
PriceSmart, Inc. | 15,562 | 1,209,634 |
SpartanNash Co. | 21,761 | 488,317 |
United Natural Foods, Inc. * | 36,805 | 765,544 |
Weis Markets, Inc. | 10,160 | 674,014 |
7,492,276 | ||
Containers & Packaging — 0.2% | ||
Myers Industries, Inc. | 22,772 | 446,559 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Containers & Packaging — continued | ||
Pactiv Evergreen, Inc. | 24,284 | 209,085 |
TriMas Corp. | 25,709 | 662,264 |
1,317,908 | ||
Diversified Consumer Services — 1.3% | ||
Adtalem Global Education, Inc. * | 27,007 | 1,167,783 |
Chegg, Inc. * | 74,148 | 751,119 |
Coursera, Inc. * | 54,131 | 849,315 |
European Wax Center, Inc., Class A * (a) | 19,979 | 386,993 |
Frontdoor, Inc. * | 50,615 | 1,767,476 |
Graham Holdings Co., Class B | 2,335 | 1,370,061 |
Laureate Education, Inc., Class A | 83,718 | 1,073,265 |
Mister Car Wash, Inc. * (a) | 49,699 | 493,511 |
OneSpaWorld Holdings Ltd. (Bahamas) * | 38,873 | 499,324 |
Rover Group, Inc. * | 60,483 | 331,447 |
Strategic Education, Inc. | 13,870 | 1,041,637 |
Stride, Inc. * | 25,321 | 967,515 |
Udemy, Inc. * | 41,803 | 493,694 |
11,193,140 | ||
Diversified REITs — 0.6% | ||
Alexander & Baldwin, Inc. | 44,961 | 863,251 |
American Assets Trust, Inc. | 32,354 | 727,965 |
Broadstone Net Lease, Inc. | 115,965 | 1,890,230 |
Empire State Realty Trust, Inc., Class A (a) | 80,952 | 724,520 |
Global Net Lease, Inc. (a) | 64,334 | 687,731 |
4,893,697 | ||
Diversified Telecommunication Services — 0.4% | ||
EchoStar Corp., Class A * | 22,301 | 433,308 |
Globalstar, Inc. * | 438,006 | 473,046 |
Liberty Latin America Ltd., Class A (Puerto Rico) * | 22,267 | 187,043 |
Liberty Latin America Ltd., Class C (Puerto Rico) * | 89,227 | 742,369 |
Lumen Technologies, Inc. (a) | 572,316 | 1,024,446 |
Radius Global Infrastructure, Inc. * | 49,409 | 736,688 |
3,596,900 | ||
Electric Utilities — 0.2% | ||
MGE Energy, Inc. | 22,402 | 1,797,536 |
Electrical Equipment — 1.1% | ||
Encore Wire Corp. | 11,133 | 1,900,292 |
Enovix Corp. * (a) | 68,569 | 1,475,605 |
Fluence Energy, Inc. * (a) | 23,084 | 674,976 |
FREYR Battery SA (Norway) * (a) | 64,031 | 539,141 |
FuelCell Energy, Inc. * (a) | 251,315 | 550,380 |
GrafTech International Ltd. | 119,268 | 629,735 |
NEXTracker, Inc., Class A * | 28,269 | 1,197,192 |
SES AI Corp. * (a) | 89,077 | 279,702 |
Stem, Inc. * (a) | 90,542 | 640,132 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Electrical Equipment — continued | ||
SunPower Corp. * (a) | 53,114 | 524,235 |
Vicor Corp. * | 13,886 | 1,281,261 |
9,692,651 | ||
Electronic Equipment, Instruments & Components — 1.8% | ||
Benchmark Electronics, Inc. | 22,055 | 584,678 |
CTS Corp. | 19,542 | 872,159 |
ePlus, Inc. * | 16,676 | 939,693 |
Itron, Inc. * | 28,131 | 2,213,066 |
Knowles Corp. * | 56,604 | 1,034,155 |
Lightwave Logic, Inc. * (a) | 70,857 | 476,159 |
Methode Electronics, Inc. | 22,298 | 750,105 |
Mirion Technologies, Inc. * | 75,245 | 568,100 |
Napco Security Technologies, Inc. | 17,990 | 674,265 |
OSI Systems, Inc. * | 9,631 | 1,148,304 |
PAR Technology Corp. * (a) | 16,967 | 586,889 |
PC Connection, Inc. | 6,984 | 338,095 |
Plexus Corp. * | 17,109 | 1,685,065 |
ScanSource, Inc. * | 15,408 | 463,627 |
SmartRent, Inc. * | 76,582 | 304,796 |
TTM Technologies, Inc. * | 63,534 | 912,348 |
Vishay Intertechnology, Inc. | 79,031 | 2,224,723 |
15,776,227 | ||
Energy Equipment & Services — 2.0% | ||
Archrock, Inc. | 83,477 | 973,342 |
Atlas Energy Solutions, Inc., Class A | 11,038 | 218,000 |
Cactus, Inc., Class A | 39,915 | 2,026,884 |
Core Laboratories, Inc. (a) | 28,888 | 750,799 |
Diamond Offshore Drilling, Inc. * | 62,785 | 993,887 |
Dril-Quip, Inc. * | 21,175 | 548,221 |
Helix Energy Solutions Group, Inc. * | 88,203 | 846,749 |
Liberty Energy, Inc. | 92,185 | 1,518,287 |
Nabors Industries Ltd. * | 5,613 | 687,536 |
NexTier Oilfield Solutions, Inc. * | 92,788 | 1,106,033 |
Oceaneering International, Inc. * | 62,410 | 1,401,104 |
Patterson-UTI Energy, Inc. | 128,992 | 2,043,233 |
ProFrac Holding Corp., Class A * (a) | 19,693 | 253,449 |
ProPetro Holding Corp. * | 59,959 | 625,972 |
RPC, Inc. | 51,412 | 427,748 |
Tidewater, Inc. * | 31,501 | 1,988,028 |
US Silica Holdings, Inc. * | 47,731 | 620,980 |
17,030,252 | ||
Entertainment — 0.8% | ||
AMC Entertainment Holdings, Inc., Class A * (a) | 321,585 | 1,598,278 |
Atlanta Braves Holdings, Inc., Class A * (a) | 6,377 | 301,887 |
Atlanta Braves Holdings, Inc., Class C * | 27,161 | 1,105,996 |
Cinemark Holdings, Inc. * | 67,009 | 1,118,380 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Entertainment — continued | ||
IMAX Corp. * | 28,064 | 516,658 |
Lions Gate Entertainment Corp., Class A * | 37,215 | 285,811 |
Lions Gate Entertainment Corp., Class B * | 77,495 | 567,263 |
Madison Square Garden Entertainment Corp. * | 19,643 | 684,362 |
Sphere Entertainment Co. * | 16,291 | 691,553 |
Vivid Seats, Inc., Class A * | 13,945 | 116,162 |
6,986,350 | ||
Financial Services — 1.9% | ||
Affirm Holdings, Inc. * (a) | 131,843 | 2,556,436 |
AvidXchange Holdings, Inc. * | 83,523 | 1,036,520 |
Cannae Holdings, Inc. * | 44,045 | 897,637 |
Compass Diversified Holdings | 38,316 | 863,259 |
EVERTEC, Inc. (Puerto Rico) | 40,314 | 1,585,550 |
Federal Agricultural Mortgage Corp., Class C | 5,745 | 923,509 |
International Money Express, Inc. * | 20,083 | 486,611 |
Marqeta, Inc., Class A * | 270,825 | 1,511,203 |
Merchants Bancorp | 15,795 | 499,280 |
NMI Holdings, Inc., Class A * | 51,586 | 1,377,862 |
Payoneer Global, Inc. * | 126,990 | 675,587 |
Remitly Global, Inc. * | 62,827 | 1,211,305 |
Repay Holdings Corp. * | 46,688 | 389,845 |
Rocket Cos., Inc., Class A * (a) | 78,398 | 856,890 |
Walker & Dunlop, Inc. | 19,198 | 1,746,634 |
16,618,128 | ||
Food Products — 0.7% | ||
B&G Foods, Inc. (a) | 44,737 | 593,213 |
Beyond Meat, Inc. * (a) | 37,782 | 649,850 |
Calavo Growers, Inc. | 11,003 | 415,143 |
Cal-Maine Foods, Inc. | 23,539 | 1,087,266 |
Fresh Del Monte Produce, Inc. | 19,031 | 505,844 |
Hain Celestial Group, Inc. (The) * | 55,410 | 702,045 |
Mission Produce, Inc. * | 24,957 | 290,000 |
Sovos Brands, Inc. * | 30,107 | 535,905 |
Tootsie Roll Industries, Inc. | 11,143 | 388,445 |
Utz Brands, Inc. (a) | 41,137 | 689,045 |
5,856,756 | ||
Gas Utilities — 0.3% | ||
Chesapeake Utilities Corp. | 11,030 | 1,304,187 |
Northwest Natural Holding Co. | 22,287 | 957,673 |
2,261,860 | ||
Ground Transportation — 0.8% | ||
ArcBest Corp. | 14,823 | 1,724,211 |
Heartland Express, Inc. | 28,852 | 471,730 |
Marten Transport Ltd. | 35,735 | 809,755 |
RXO, Inc. * (a) | 72,420 | 1,596,861 |
Schneider National, Inc., Class B | 23,041 | 709,893 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Ground Transportation — continued | ||
Universal Logistics Holdings, Inc. | 4,217 | 131,107 |
Werner Enterprises, Inc. | 36,506 | 1,716,512 |
7,160,069 | ||
Health Care Equipment & Supplies — 2.9% | ||
Alphatec Holdings, Inc. * | 49,187 | 869,134 |
AtriCure, Inc. * | 29,257 | 1,619,375 |
Atrion Corp. | 814 | 456,337 |
Avanos Medical, Inc. * | 28,890 | 706,938 |
Axonics, Inc. * | 31,220 | 1,884,751 |
Embecta Corp. | 35,480 | 757,143 |
Establishment Labs Holdings, Inc. (Costa Rica) * (a) | 14,512 | 1,045,009 |
Glaukos Corp. * | 29,854 | 2,302,938 |
Integer Holdings Corp. * | 20,620 | 1,906,938 |
LeMaitre Vascular, Inc. | 12,061 | 762,617 |
LivaNova plc * | 33,293 | 1,945,976 |
Nevro Corp. * | 22,168 | 553,978 |
NuVasive, Inc. * | 32,490 | 1,338,913 |
Omnicell, Inc. * | 27,931 | 1,763,843 |
OrthoPediatrics Corp. * | 10,113 | 422,218 |
Outset Medical, Inc. * (a) | 30,481 | 627,299 |
Paragon 28, Inc. * | 16,827 | 297,333 |
PROCEPT BioRobotics Corp. * (a) | 20,360 | 701,198 |
Silk Road Medical, Inc. * | 23,996 | 548,069 |
Tandem Diabetes Care, Inc. * | 40,017 | 1,397,394 |
TransMedics Group, Inc. * | 20,166 | 1,879,068 |
Treace Medical Concepts, Inc. * | 21,666 | 493,768 |
Varex Imaging Corp. * | 25,036 | 583,088 |
24,863,325 | ||
Health Care Providers & Services — 2.3% | ||
23andMe Holding Co. * (a) | 178,858 | 343,407 |
AdaptHealth Corp. * | 47,358 | 650,699 |
Addus HomeCare Corp. * | 10,040 | 919,363 |
Agiliti, Inc. * | 20,818 | 357,445 |
Alignment Healthcare, Inc. * | 51,325 | 318,728 |
Amedisys, Inc. * | 20,184 | 1,833,515 |
Apollo Medical Holdings, Inc. * | 24,937 | 913,442 |
Brookdale Senior Living, Inc. * | 116,587 | 410,386 |
Castle Biosciences, Inc. * | 15,550 | 262,018 |
Cross Country Healthcare, Inc. * | 21,154 | 545,773 |
DocGo, Inc. * | 51,262 | 430,088 |
Fulgent Genetics, Inc. * (a) | 12,327 | 478,658 |
Guardant Health, Inc. * | 71,388 | 2,785,560 |
Hims & Hers Health, Inc. * | 75,911 | 680,922 |
ModivCare, Inc. * | 7,895 | 345,327 |
National HealthCare Corp. | 8,354 | 493,053 |
National Research Corp. | 8,674 | 372,201 |
NeoGenomics, Inc. * | 79,027 | 1,369,538 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Providers & Services — continued | ||
OPKO Health, Inc. * (a) | 253,647 | 471,784 |
Owens & Minor, Inc. * | 47,198 | 908,090 |
Patterson Cos., Inc. | 53,863 | 1,771,554 |
Pediatrix Medical Group, Inc. * | 51,136 | 702,097 |
RadNet, Inc. * | 35,514 | 1,174,803 |
US Physical Therapy, Inc. | 9,116 | 1,059,917 |
19,598,368 | ||
Health Care REITs — 0.7% | ||
CareTrust REIT, Inc. | 61,621 | 1,281,101 |
LTC Properties, Inc. | 25,650 | 860,814 |
National Health Investors, Inc. | 26,878 | 1,475,871 |
Sabra Health Care REIT, Inc. | 143,196 | 1,860,116 |
Universal Health Realty Income Trust | 7,866 | 375,444 |
5,853,346 | ||
Health Care Technology — 0.7% | ||
American Well Corp., Class A * | 153,574 | 376,256 |
Definitive Healthcare Corp. * | 24,582 | 290,805 |
Health Catalyst, Inc. * | 34,844 | 488,861 |
HealthStream, Inc. | 15,022 | 337,695 |
Multiplan Corp. * (a) | 144,975 | 311,696 |
NextGen Healthcare, Inc. * | 33,123 | 550,835 |
Phreesia, Inc. * | 33,051 | 1,048,378 |
Schrodinger, Inc. * | 33,215 | 1,737,477 |
Sharecare, Inc. * (a) | 199,246 | 276,952 |
Veradigm, Inc. * | 67,688 | 915,142 |
6,334,097 | ||
Hotel & Resort REITs — 1.0% | ||
DiamondRock Hospitality Co. | 129,957 | 1,104,635 |
Park Hotels & Resorts, Inc. | 133,561 | 1,820,437 |
Pebblebrook Hotel Trust (a) | 76,260 | 1,178,217 |
RLJ Lodging Trust | 98,588 | 1,015,456 |
Service Properties Trust | 102,489 | 870,132 |
Summit Hotel Properties, Inc. | 66,578 | 428,762 |
Sunstone Hotel Investors, Inc. | 128,291 | 1,307,285 |
Xenia Hotels & Resorts, Inc. | 67,820 | 861,314 |
8,586,238 | ||
Hotels, Restaurants & Leisure — 2.5% | ||
Bally's Corp. * | 16,593 | 270,134 |
BJ's Restaurants, Inc. * | 14,582 | 549,158 |
Bloomin' Brands, Inc. | 54,059 | 1,452,565 |
Bowlero Corp. * (a) | 22,004 | 266,909 |
Brinker International, Inc. * | 27,441 | 1,077,882 |
Cheesecake Factory, Inc. (The) (a) | 29,589 | 1,088,283 |
Cracker Barrel Old Country Store, Inc. (a) | 13,706 | 1,277,399 |
Dave & Buster's Entertainment, Inc. * | 24,798 | 1,135,748 |
Denny's Corp. * | 34,718 | 408,284 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hotels, Restaurants & Leisure — continued | ||
Dine Brands Global, Inc. | 9,693 | 584,682 |
Dutch Bros, Inc., Class A * (a) | 18,392 | 570,336 |
Everi Holdings, Inc. * | 55,144 | 818,337 |
First Watch Restaurant Group, Inc. * | 6,972 | 129,958 |
Golden Entertainment, Inc. * | 13,738 | 581,667 |
Jack in the Box, Inc. | 12,768 | 1,269,267 |
Krispy Kreme, Inc. (a) | 41,665 | 641,641 |
Monarch Casino & Resort, Inc. | 8,303 | 575,564 |
Papa John's International, Inc. (a) | 18,413 | 1,522,755 |
Portillo's, Inc., Class A * | 25,212 | 581,137 |
Red Rock Resorts, Inc., Class A | 30,378 | 1,473,333 |
Sabre Corp. * (a) | 205,689 | 843,325 |
Shake Shack, Inc., Class A * | 23,177 | 1,799,926 |
Six Flags Entertainment Corp. * | 45,917 | 1,097,416 |
Sweetgreen, Inc., Class A * | 46,808 | 705,397 |
Target Hospitality Corp. * (a) | 15,699 | 200,476 |
20,921,579 | ||
Household Durables — 1.7% | ||
Cavco Industries, Inc. * | 5,010 | 1,481,206 |
Century Communities, Inc. | 17,641 | 1,362,238 |
GoPro, Inc., Class A * | 80,330 | 328,550 |
Green Brick Partners, Inc. * | 16,642 | 940,606 |
Helen of Troy Ltd. * | 14,873 | 2,101,555 |
iRobot Corp. * | 16,864 | 674,560 |
La-Z-Boy, Inc. | 26,733 | 838,614 |
LGI Homes, Inc. * | 12,832 | 1,780,440 |
M/I Homes, Inc. * | 17,246 | 1,724,600 |
Sonos, Inc. * | 79,494 | 1,362,527 |
Tri Pointe Homes, Inc. * | 61,985 | 1,976,082 |
Vizio Holding Corp., Class A * | 35,283 | 262,858 |
14,833,836 | ||
Household Products — 0.8% | ||
Central Garden & Pet Co. * | 5,988 | 242,394 |
Central Garden & Pet Co., Class A * | 25,578 | 977,591 |
Energizer Holdings, Inc. | 41,162 | 1,469,484 |
Spectrum Brands Holdings, Inc. | 25,390 | 1,990,830 |
WD-40 Co. (a) | 8,408 | 1,929,636 |
6,609,935 | ||
Independent Power and Renewable Electricity Producers — 0.2% | ||
Altus Power, Inc. * (a) | 22,639 | 154,172 |
Montauk Renewables, Inc. * | 39,160 | 342,650 |
Sunnova Energy International, Inc. * (a) | 61,934 | 1,093,754 |
1,590,576 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Industrial REITs — 0.4% | ||
Innovative Industrial Properties, Inc. | 17,367 | 1,375,987 |
LXP Industrial Trust | 181,226 | 1,824,946 |
3,200,933 | ||
Insurance — 1.8% | ||
AMERISAFE, Inc. | 11,858 | 618,039 |
Argo Group International Holdings Ltd. | 21,789 | 647,133 |
BRP Group, Inc., Class A * | 39,468 | 983,148 |
CNO Financial Group, Inc. | 70,941 | 1,824,603 |
Employers Holdings, Inc. | 16,658 | 643,499 |
F&G Annuities & Life, Inc. | 11,744 | 307,693 |
Genworth Financial, Inc., Class A * | 296,058 | 1,734,900 |
Goosehead Insurance, Inc., Class A * | 14,547 | 972,758 |
Hagerty, Inc., Class A * (a) | 19,617 | 173,218 |
Horace Mann Educators Corp. | 25,296 | 762,168 |
James River Group Holdings Ltd. | 23,285 | 430,540 |
Lemonade, Inc. * (a) | 27,982 | 650,582 |
Mercury General Corp. | 16,452 | 529,425 |
Oscar Health, Inc., Class A * | 70,225 | 528,092 |
Palomar Holdings, Inc. * | 15,383 | 931,594 |
ProAssurance Corp. | 33,476 | 562,397 |
Safety Insurance Group, Inc. | 9,195 | 662,040 |
SiriusPoint Ltd. (Bermuda) * | 53,133 | 496,262 |
Skyward Specialty Insurance Group, Inc. * | 5,599 | 132,640 |
Stewart Information Services Corp. | 16,873 | 795,224 |
Trupanion, Inc. * (a) | 21,956 | 677,343 |
15,063,298 | ||
Interactive Media & Services — 1.1% | ||
Bumble, Inc., Class A * | 61,343 | 1,136,072 |
Cargurus, Inc. * | 55,352 | 1,254,276 |
Cars.com, Inc. * | 38,419 | 876,337 |
Eventbrite, Inc., Class A * | 51,012 | 587,148 |
Rumble, Inc. * (a) | 49,724 | 428,621 |
Shutterstock, Inc. | 14,972 | 770,310 |
TripAdvisor, Inc. * | 65,676 | 1,224,858 |
Vimeo, Inc. * | 96,878 | 399,137 |
Yelp, Inc. * | 42,639 | 1,920,887 |
ZipRecruiter, Inc., Class A * | 29,969 | 555,026 |
9,152,672 | ||
IT Services — 0.5% | ||
BigCommerce Holdings, Inc. * | 38,335 | 414,401 |
Fastly, Inc., Class A * | 71,597 | 1,315,237 |
Grid Dynamics Holdings, Inc. * | 32,478 | 338,421 |
Perficient, Inc. * | 21,565 | 1,375,631 |
Squarespace, Inc., Class A * | 24,863 | 823,960 |
Thoughtworks Holding, Inc. * | 41,280 | 292,675 |
4,560,325 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Leisure Products — 0.6% | ||
Malibu Boats, Inc., Class A * | 12,782 | 766,281 |
Peloton Interactive, Inc., Class A * | 208,197 | 2,021,593 |
Smith & Wesson Brands, Inc. | 28,440 | 362,041 |
Sturm Ruger & Co., Inc. | 10,982 | 581,497 |
Vista Outdoor, Inc. * | 35,359 | 1,071,378 |
4,802,790 | ||
Life Sciences Tools & Services — 0.6% | ||
Adaptive Biotechnologies Corp. * | 68,838 | 580,993 |
BioLife Solutions, Inc. * | 21,522 | 427,858 |
CryoPort, Inc. * | 28,202 | 453,206 |
Cytek Biosciences, Inc. * | 49,568 | 444,129 |
Maravai LifeSciences Holdings, Inc., Class A * | 67,761 | 766,377 |
Mesa Laboratories, Inc. | 3,096 | 398,331 |
OmniAb, Inc. ‡ * | 2,112 | — |
Pacific Biosciences of California, Inc. * | 143,962 | 1,901,738 |
SomaLogic, Inc. * | 95,429 | 233,801 |
5,206,433 | ||
Machinery — 3.5% | ||
3D Systems Corp. * | 81,244 | 707,635 |
Alamo Group, Inc. | 6,381 | 1,236,383 |
Albany International Corp., Class A | 19,292 | 1,857,434 |
Astec Industries, Inc. | 14,068 | 694,959 |
Barnes Group, Inc. | 31,352 | 1,232,134 |
Crane NXT Co. | 29,861 | 1,766,278 |
Desktop Metal, Inc., Class A * (a) | 147,356 | 268,188 |
Energy Recovery, Inc. * | 34,896 | 1,063,630 |
Enerpac Tool Group Corp. | 35,414 | 973,177 |
EnPro Industries, Inc. | 12,930 | 1,794,425 |
ESCO Technologies, Inc. | 15,941 | 1,602,868 |
Gorman-Rupp Co. (The) | 14,102 | 447,033 |
Greenbrier Cos., Inc. (The) | 19,766 | 912,992 |
Helios Technologies, Inc. | 20,219 | 1,277,841 |
Hillman Solutions Corp. * | 104,880 | 1,032,019 |
Kadant, Inc. | 7,251 | 1,615,885 |
Kennametal, Inc. | 49,734 | 1,515,892 |
Lindsay Corp. | 6,814 | 903,059 |
Mueller Water Products, Inc., Class A | 96,898 | 1,559,089 |
Omega Flex, Inc. (a) | 1,865 | 166,955 |
Proto Labs, Inc. * | 16,233 | 538,124 |
SPX Technologies, Inc. * | 28,177 | 2,384,056 |
Standex International Corp. | 7,368 | 1,094,664 |
Symbotic, Inc. * (a) | 9,516 | 604,647 |
Tennant Co. | 11,452 | 918,908 |
Trinity Industries, Inc. | 50,277 | 1,318,263 |
Wabash National Corp. | 29,396 | 696,097 |
30,182,635 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Marine Transportation — 0.2% | ||
Matson, Inc. | 22,223 | 2,076,962 |
Media — 1.0% | ||
Altice USA, Inc., Class A * (a) | 134,691 | 456,602 |
AMC Networks, Inc., Class A * | 17,637 | 222,579 |
Clear Channel Outdoor Holdings, Inc. * | 299,074 | 538,333 |
DISH Network Corp., Class A * (a) | 156,693 | 1,242,575 |
EW Scripps Co. (The), Class A * | 36,322 | 358,135 |
Gray Television, Inc. | 53,446 | 506,134 |
Integral Ad Science Holding Corp. * | 29,632 | 617,827 |
John Wiley & Sons, Inc., Class A | 26,450 | 905,384 |
Magnite, Inc. * | 73,908 | 1,118,228 |
Scholastic Corp. | 18,076 | 780,702 |
Sinclair, Inc. (a) | 23,537 | 327,400 |
Stagwell, Inc. * | 62,668 | 420,502 |
TechTarget, Inc. * | 15,981 | 519,063 |
Thryv Holdings, Inc. * | 19,191 | 454,827 |
WideOpenWest, Inc. * | 31,009 | 255,514 |
8,723,805 | ||
Metals & Mining — 1.5% | ||
Alpha Metallurgical Resources, Inc. | 8,142 | 1,410,357 |
Arconic Corp. * | 62,104 | 1,856,289 |
Carpenter Technology Corp. | 30,085 | 1,800,888 |
Century Aluminum Co. * | 32,022 | 297,805 |
Coeur Mining, Inc. * | 206,295 | 635,389 |
Compass Minerals International, Inc. | 21,159 | 801,291 |
Ivanhoe Electric, Inc. * (a) | 9,201 | 149,608 |
Kaiser Aluminum Corp. | 9,907 | 804,448 |
Materion Corp. | 12,773 | 1,521,775 |
Piedmont Lithium, Inc. * | 10,212 | 560,230 |
Ryerson Holding Corp. | 12,403 | 527,003 |
Schnitzer Steel Industries, Inc., Class A | 15,860 | 574,291 |
Warrior Met Coal, Inc. | 32,190 | 1,424,408 |
12,363,782 | ||
Mortgage Real Estate Investment Trusts (REITs) — 1.7% | ||
Apollo Commercial Real Estate Finance, Inc. (a) | 80,558 | 950,584 |
Arbor Realty Trust, Inc. (a) | 112,212 | 1,897,505 |
ARMOUR Residential REIT, Inc. | 121,107 | 618,857 |
Brightspire Capital, Inc. | 80,475 | 592,296 |
Chimera Investment Corp. (a) | 143,754 | 902,775 |
Claros Mortgage Trust, Inc. | 75,412 | 929,076 |
Franklin BSP Realty Trust, Inc. | 50,970 | 728,871 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 64,986 | 1,696,784 |
KKR Real Estate Finance Trust, Inc. | 35,948 | 447,912 |
Ladder Capital Corp. | 69,992 | 769,212 |
MFA Financial, Inc. | 56,178 | 632,562 |
New York Mortgage Trust, Inc. | 56,488 | 573,353 |
PennyMac Mortgage Investment Trust | 54,243 | 693,226 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Mortgage Real Estate Investment Trusts (REITs) — continued | ||
Ready Capital Corp. (a) | 99,956 | 1,156,491 |
Redwood Trust, Inc. (a) | 70,634 | 531,874 |
TPG RE Finance Trust, Inc. | 37,865 | 295,347 |
Two Harbors Investment Corp. (a) | 59,884 | 803,044 |
14,219,769 | ||
Office REITs — 1.6% | ||
Brandywine Realty Trust | 106,491 | 537,779 |
Corporate Office Properties Trust | 69,685 | 1,811,810 |
Douglas Emmett, Inc. (a) | 105,167 | 1,545,955 |
Easterly Government Properties, Inc. | 57,843 | 853,763 |
Equity Commonwealth | 67,947 | 1,331,082 |
Highwoods Properties, Inc. (a) | 65,308 | 1,650,333 |
Hudson Pacific Properties, Inc. | 79,432 | 466,266 |
JBG SMITH Properties (a) | 60,054 | 1,004,703 |
Paramount Group, Inc. | 100,911 | 528,774 |
Piedmont Office Realty Trust, Inc., Class A | 76,570 | 569,681 |
SL Green Realty Corp. (a) | 39,873 | 1,503,611 |
Vornado Realty Trust (a) | 99,838 | 2,244,358 |
14,048,115 | ||
Oil, Gas & Consumable Fuels — 3.1% | ||
Arch Resources, Inc. (a) | 11,579 | 1,487,207 |
Callon Petroleum Co. * | 31,817 | 1,195,046 |
Clean Energy Fuels Corp. * | 109,063 | 537,681 |
CNX Resources Corp. * | 102,565 | 2,092,326 |
CONSOL Energy, Inc. | 19,743 | 1,471,248 |
CVR Energy, Inc. | 18,052 | 663,230 |
Delek US Holdings, Inc. | 40,726 | 1,123,630 |
Earthstone Energy, Inc., Class A * (a) | 23,674 | 378,311 |
Enviva, Inc. | 19,285 | 259,769 |
Equitrans Midstream Corp. | 268,309 | 2,782,364 |
Green Plains, Inc. * | 36,872 | 1,309,325 |
Gulfport Energy Corp. * | 6,770 | 693,586 |
HighPeak Energy, Inc. (a) | 8,412 | 127,442 |
International Seaways, Inc. | 25,018 | 1,073,022 |
Kinetik Holdings, Inc. (a) | 14,585 | 525,060 |
Kosmos Energy Ltd. (Ghana) * | 284,913 | 2,022,882 |
NextDecade Corp. * (a) | 37,290 | 207,705 |
Northern Oil and Gas, Inc. | 50,143 | 1,974,130 |
Par Pacific Holdings, Inc. * | 34,783 | 1,094,969 |
Riley Exploration Permian, Inc. (a) | 2,486 | 93,101 |
Sitio Royalties Corp. (a) | 49,951 | 1,365,660 |
Talos Energy, Inc. * | 66,876 | 1,070,016 |
Tellurian, Inc. * (a) | 313,740 | 539,633 |
Uranium Energy Corp. * (a) | 232,506 | 837,022 |
Vital Energy, Inc. * (a) | 11,503 | 607,128 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
W&T Offshore, Inc. * | 59,883 | 262,288 |
World Kinect Corp. | 38,496 | 867,700 |
26,661,481 | ||
Paper & Forest Products — 0.1% | ||
Mercer International, Inc. (Germany) | 25,108 | 223,461 |
Sylvamo Corp. | 19,765 | 969,869 |
1,193,330 | ||
Passenger Airlines — 0.9% | ||
Allegiant Travel Co. * | 9,694 | 1,199,148 |
Frontier Group Holdings, Inc. * | 23,009 | 213,984 |
JetBlue Airways Corp. * | 203,104 | 1,578,118 |
Joby Aviation, Inc. * (a) | 213,218 | 1,908,301 |
SkyWest, Inc. * | 27,521 | 1,210,649 |
Spirit Airlines, Inc. | 67,599 | 1,237,061 |
Sun Country Airlines Holdings, Inc. * | 22,634 | 487,989 |
7,835,250 | ||
Personal Care Products — 0.6% | ||
Beauty Health Co. (The) * | 57,500 | 476,675 |
Edgewell Personal Care Co. | 31,681 | 1,248,548 |
Herbalife Ltd. * | 61,265 | 994,944 |
Medifast, Inc. | 6,743 | 687,044 |
Nu Skin Enterprises, Inc., Class A | 30,908 | 908,386 |
Olaplex Holdings, Inc. * | 52,687 | 189,673 |
USANA Health Sciences, Inc. * | 6,922 | 449,307 |
4,954,577 | ||
Pharmaceuticals — 1.6% | ||
Aclaris Therapeutics, Inc. * | 33,707 | 332,688 |
Amphastar Pharmaceuticals, Inc. * | 23,336 | 1,416,262 |
Amylyx Pharmaceuticals, Inc. * | 24,950 | 585,078 |
Arvinas, Inc. * | 30,109 | 744,294 |
Cassava Sciences, Inc. * (a) | 24,298 | 534,070 |
Corcept Therapeutics, Inc. * | 56,003 | 1,426,956 |
DICE Therapeutics, Inc. * | 20,978 | 985,966 |
Enliven Therapeutics, Inc. * (a) | 12,471 | 236,201 |
Harmony Biosciences Holdings, Inc. * | 18,565 | 656,644 |
Innoviva, Inc. * | 36,514 | 494,765 |
Ligand Pharmaceuticals, Inc. * | 10,160 | 680,009 |
Pacira BioSciences, Inc. * | 28,493 | 1,035,721 |
Pliant Therapeutics, Inc. * | 27,105 | 483,553 |
Revance Therapeutics, Inc. * | 52,062 | 1,230,225 |
Supernus Pharmaceuticals, Inc. * | 33,738 | 1,035,419 |
Tilray Brands, Inc. (Canada) * (a) | 382,789 | 968,456 |
Ventyx Biosciences, Inc. * | 17,783 | 658,860 |
13,505,167 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Professional Services — 1.7% | ||
CBIZ, Inc. * | 31,038 | 1,641,600 |
Conduent, Inc. * | 104,194 | 360,511 |
CSG Systems International, Inc. | 18,839 | 971,904 |
First Advantage Corp. * | 34,415 | 516,225 |
Forrester Research, Inc. * | 7,001 | 223,122 |
HireRight Holdings Corp. * | 10,990 | 117,703 |
Huron Consulting Group, Inc. * | 11,894 | 1,124,816 |
ICF International, Inc. | 10,484 | 1,232,813 |
Kelly Services, Inc., Class A | 20,284 | 371,603 |
Kforce, Inc. | 11,840 | 751,130 |
Korn Ferry | 32,467 | 1,710,361 |
Legalzoom.com, Inc. * | 57,994 | 886,148 |
NV5 Global, Inc. * | 7,788 | 853,175 |
Planet Labs PBC * (a) | 121,060 | 450,343 |
Sterling Check Corp. * | 14,574 | 175,034 |
TrueBlue, Inc. * | 19,208 | 287,160 |
TTEC Holdings, Inc. | 11,712 | 403,361 |
Upwork, Inc. * | 75,227 | 784,618 |
Verra Mobility Corp. * | 86,620 | 1,818,154 |
14,679,781 | ||
Real Estate Management & Development — 1.3% | ||
Anywhere Real Estate, Inc. * | 68,368 | 572,924 |
Compass, Inc., Class A * | 166,415 | 697,279 |
Cushman & Wakefield plc * | 101,248 | 995,268 |
DigitalBridge Group, Inc. | 90,337 | 1,447,199 |
eXp World Holdings, Inc. (a) | 45,611 | 1,137,538 |
Forestar Group, Inc. * | 11,132 | 328,171 |
Kennedy-Wilson Holdings, Inc. | 73,395 | 1,211,018 |
Marcus & Millichap, Inc. | 15,022 | 551,007 |
Newmark Group, Inc., Class A | 77,424 | 535,774 |
Opendoor Technologies, Inc. * (a) | 321,485 | 1,642,788 |
Redfin Corp. * (a) | 68,623 | 1,027,973 |
St. Joe Co. (The) | 20,959 | 1,330,477 |
11,477,416 | ||
Residential REITs — 0.4% | ||
Apartment Investment and Management Co., Class A | 92,051 | 766,785 |
Centerspace | 9,250 | 574,702 |
Elme Communities | 54,340 | 883,025 |
NexPoint Residential Trust, Inc. | 14,138 | 587,575 |
Veris Residential, Inc. * | 49,404 | 922,867 |
3,734,954 | ||
Retail REITs — 1.5% | ||
Acadia Realty Trust | 58,971 | 926,434 |
Alexander's, Inc. | 1,317 | 254,668 |
CBL & Associates Properties, Inc. (a) | 15,283 | 332,711 |
Getty Realty Corp. | 27,906 | 901,922 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Retail REITs — continued | ||
InvenTrust Properties Corp. | 41,799 | 1,017,388 |
Macerich Co. (The) | 133,217 | 1,698,517 |
Necessity Retail REIT, Inc. (The) | 83,114 | 590,109 |
Retail Opportunity Investments Corp. | 78,057 | 1,149,780 |
RPT Realty | 53,703 | 583,752 |
Saul Centers, Inc. | 7,995 | 308,207 |
SITE Centers Corp. | 112,766 | 1,584,362 |
Tanger Factory Outlet Centers, Inc. (a) | 65,146 | 1,525,068 |
Urban Edge Properties | 72,827 | 1,238,787 |
Urstadt Biddle Properties, Inc., Class A | 17,945 | 406,993 |
12,518,698 | ||
Semiconductors & Semiconductor Equipment — 2.1% | ||
Ambarella, Inc. * | 23,279 | 1,941,934 |
Cohu, Inc. * | 29,427 | 1,284,489 |
Credo Technology Group Holding Ltd.���* | 57,064 | 968,376 |
FormFactor, Inc. * | 47,778 | 1,775,430 |
Ichor Holdings Ltd. * | 17,995 | 696,766 |
Impinj, Inc. * | 13,538 | 901,902 |
indie Semiconductor, Inc., Class A (China) * | 53,899 | 510,962 |
Kulicke & Soffa Industries, Inc. (Singapore) | 35,033 | 2,097,776 |
MaxLinear, Inc. * | 45,570 | 1,124,212 |
Navitas Semiconductor Corp. * | 50,839 | 537,877 |
PDF Solutions, Inc. * | 18,522 | 851,827 |
Photronics, Inc. * | 38,698 | 1,023,562 |
Semtech Corp. * | 39,628 | 1,157,138 |
SiTime Corp. * | 10,192 | 1,314,870 |
Ultra Clean Holdings, Inc. * | 27,675 | 1,054,417 |
Veeco Instruments, Inc. * (a) | 32,017 | 901,599 |
18,143,137 | ||
Software — 7.4% | ||
A10 Networks, Inc. | 39,859 | 618,612 |
ACI Worldwide, Inc. * | 67,108 | 1,556,234 |
Adeia, Inc. | 65,853 | 791,553 |
Agilysys, Inc. * | 12,336 | 908,300 |
Alarm.com Holdings, Inc. * | 30,870 | 1,704,333 |
Alkami Technology, Inc. * | 23,008 | 388,375 |
Alteryx, Inc., Class A * | 38,750 | 1,606,575 |
Amplitude, Inc., Class A * | 38,267 | 443,132 |
Appfolio, Inc., Class A * | 11,831 | 2,136,560 |
Appian Corp., Class A * (a) | 25,807 | 1,329,577 |
Asana, Inc., Class A * | 48,758 | 1,183,844 |
Aurora Innovation, Inc. * (a) | 281,903 | 924,642 |
AvePoint, Inc. * | 55,763 | 345,731 |
Braze, Inc., Class A * | 23,739 | 1,079,175 |
C3.ai, Inc., Class A * (a) | 53,868 | 2,262,456 |
Cerence, Inc. * | 24,952 | 693,915 |
Clear Secure, Inc., Class A | 50,888 | 1,206,554 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — continued | ||
Clearwater Analytics Holdings, Inc., Class A * | 49,824 | 858,467 |
CommVault Systems, Inc. * | 27,252 | 2,123,748 |
Consensus Cloud Solutions, Inc. * | 10,828 | 350,935 |
Digital Turbine, Inc. * | 55,924 | 606,216 |
Domo, Inc., Class B * | 19,563 | 349,591 |
E2open Parent Holdings, Inc. * | 106,758 | 549,804 |
Ebix, Inc. | 14,549 | 450,437 |
EngageSmart, Inc. * | 18,587 | 352,409 |
Everbridge, Inc. * | 25,124 | 774,824 |
EverCommerce, Inc. * | 17,457 | 203,898 |
Expensify, Inc., Class A * | 27,577 | 222,271 |
ForgeRock, Inc., Class A * | 22,718 | 469,127 |
Freshworks, Inc., Class A * | 104,064 | 1,941,834 |
Gitlab, Inc., Class A * | 40,865 | 2,028,130 |
HashiCorp, Inc., Class A * | 59,394 | 1,758,656 |
Intapp, Inc. * | 13,791 | 566,258 |
InterDigital, Inc. | 16,548 | 1,533,834 |
Jamf Holding Corp. * (a) | 28,426 | 617,413 |
JFrog Ltd. (Israel) * | 37,849 | 1,164,614 |
LiveRamp Holdings, Inc. * | 40,074 | 1,143,712 |
Marathon Digital Holdings, Inc. * (a) | 103,694 | 1,801,165 |
Matterport, Inc. * (a) | 141,096 | 478,315 |
MeridianLink, Inc. * | 12,480 | 278,803 |
Model N, Inc. * | 21,248 | 707,983 |
N-Able, Inc. * | 41,708 | 586,832 |
nCino, Inc. * (a) | 47,933 | 1,550,633 |
PagerDuty, Inc. * | 51,891 | 1,345,015 |
Progress Software Corp. | 26,830 | 1,611,410 |
PROS Holdings, Inc. * | 25,676 | 975,688 |
Q2 Holdings, Inc. * | 36,040 | 1,278,339 |
Rapid7, Inc. * | 37,394 | 1,716,758 |
RingCentral, Inc., Class A * | 48,341 | 1,999,384 |
Riot Platforms, Inc. * (a) | 108,435 | 2,008,216 |
Samsara, Inc., Class A * | 76,119 | 2,126,765 |
SolarWinds Corp. * | 29,392 | 309,792 |
Sprinklr, Inc., Class A * | 48,717 | 683,987 |
Sprout Social, Inc., Class A * | 29,759 | 1,700,429 |
Varonis Systems, Inc. * | 67,953 | 1,950,251 |
Verint Systems, Inc. * | 39,820 | 1,488,073 |
Zeta Global Holdings Corp., Class A * | 80,553 | 742,699 |
Zuora, Inc., Class A * | 77,749 | 911,996 |
63,498,279 | ||
Specialized REITs — 0.5% | ||
Four Corners Property Trust, Inc. | 53,902 | 1,417,623 |
Gladstone Land Corp. | 20,583 | 344,559 |
Outfront Media, Inc. | 90,949 | 1,406,071 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Specialized REITs — continued | ||
Safehold, Inc. | 1 | 25 |
Uniti Group, Inc. (a) | 147,762 | 824,512 |
3,992,790 | ||
Specialty Retail — 3.1% | ||
Abercrombie & Fitch Co., Class A * | 30,996 | 1,227,752 |
American Eagle Outfitters, Inc. | 113,691 | 1,597,359 |
Arko Corp. | 45,455 | 379,095 |
Boot Barn Holdings, Inc. * | 18,470 | 1,734,333 |
Buckle, Inc. (The) | 18,443 | 674,276 |
Caleres, Inc. | 22,481 | 607,886 |
Camping World Holdings, Inc., Class A (a) | 26,177 | 838,449 |
Carvana Co. * (a) | 61,818 | 2,840,537 |
Franchise Group, Inc. (a) | 15,245 | 453,691 |
Guess?, Inc. (a) | 18,540 | 389,155 |
Leslie's, Inc. * | 92,225 | 587,473 |
Monro, Inc. | 19,457 | 713,099 |
National Vision Holdings, Inc. * | 48,361 | 1,046,048 |
ODP Corp. (The) * | 21,022 | 1,048,577 |
Overstock.com, Inc. * | 28,000 | 1,021,160 |
Petco Health & Wellness Co., Inc. * | 49,630 | 404,981 |
Revolve Group, Inc. * | 25,272 | 498,364 |
Sally Beauty Holdings, Inc. * | 66,628 | 797,537 |
Sleep Number Corp. * | 13,726 | 380,073 |
Sonic Automotive, Inc., Class A | 9,865 | 472,435 |
Upbound Group, Inc. | 31,194 | 1,080,248 |
Urban Outfitters, Inc. * | 37,263 | 1,355,255 |
Victoria's Secret & Co. * (a) | 48,500 | 993,765 |
Warby Parker, Inc., Class A * (a) | 38,820 | 579,971 |
Wayfair, Inc., Class A * (a) | 50,964 | 3,968,567 |
Winmark Corp. | 1,734 | 630,240 |
26,320,326 | ||
Technology Hardware, Storage & Peripherals — 0.5% | ||
Avid Technology, Inc. * | 20,675 | 492,892 |
Corsair Gaming, Inc. * | 25,284 | 467,248 |
IonQ, Inc. * (a) | 94,644 | 1,821,897 |
Xerox Holdings Corp. | 70,006 | 1,118,696 |
3,900,733 | ||
Textiles, Apparel & Luxury Goods — 1.1% | ||
Carter's, Inc. (a) | 23,356 | 1,751,934 |
Figs, Inc., Class A * | 79,094 | 582,132 |
G-III Apparel Group Ltd. * | 25,406 | 526,158 |
Hanesbrands, Inc. (a) | 216,504 | 1,140,976 |
Kontoor Brands, Inc. | 30,912 | 1,309,432 |
Levi Strauss & Co., Class A (a) | 61,214 | 922,495 |
Oxford Industries, Inc. | 9,176 | 989,632 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Textiles, Apparel & Luxury Goods — continued | ||
Steven Madden Ltd. | 44,259 | 1,477,365 |
Wolverine World Wide, Inc. | 49,211 | 623,503 |
9,323,627 | ||
Tobacco — 0.2% | ||
Universal Corp. | 15,206 | 768,968 |
Vector Group Ltd. | 82,110 | 1,077,283 |
1,846,251 | ||
Trading Companies & Distributors — 1.4% | ||
Boise Cascade Co. | 24,531 | 2,538,713 |
Custom Truck One Source, Inc. * (a) | 38,109 | 263,714 |
Distribution Solutions Group, Inc. * | 3,328 | 184,505 |
FTAI Aviation Ltd. | 61,770 | 1,989,612 |
Global Industrial Co. | 10,124 | 288,534 |
GMS, Inc. * | 25,597 | 1,886,243 |
H&E Equipment Services, Inc. | 20,947 | 1,017,605 |
McGrath RentCorp | 15,160 | 1,461,121 |
NOW, Inc. * | 66,257 | 754,667 |
Veritiv Corp. | 8,392 | 1,175,971 |
Xometry, Inc., Class A * (a) | 18,467 | 383,375 |
11,944,060 | ||
Water Utilities — 0.2% | ||
Middlesex Water Co. | 10,936 | 879,473 |
SJW Group | 17,114 | 1,205,853 |
2,085,326 | ||
Wireless Telecommunication Services — 0.2% | ||
Gogo, Inc. * | 40,608 | 611,963 |
Shenandoah Telecommunications Co. | 31,109 | 580,805 |
Telephone and Data Systems, Inc. | 61,208 | 490,888 |
United States Cellular Corp. * (a) | 8,681 | 153,740 |
1,837,396 | ||
Total Common Stocks (Cost $838,648,355) | 851,676,286 | |
Short-Term Investments — 12.6% | ||
Investment Companies — 0.3% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.27% (c) (d) (Cost $2,681,058) | 2,681,058 | 2,681,058 |
Investment of Cash Collateral from Securities Loaned — 12.3% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.52% (c) (d) | 93,982,208 | 94,001,005 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Short-Term Investments — continued | ||
Investment of Cash Collateral from Securities Loaned — continued | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.27% (c) (d) | 10,630,931 | 10,630,931 |
Total Investment of Cash Collateral from Securities Loaned (Cost $104,628,536) | 104,631,936 | |
Total Short-Term Investments (Cost $107,309,594) | 107,312,994 | |
Total Investments — 112.2% (Cost $945,957,949) | 958,989,280 | |
Liabilities in Excess of Other Assets — (12.2)% | (103,921,192 ) | |
NET ASSETS — 100.0% | 855,068,088 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 is $104,825,754. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of July 31, 2023. |
Futures contracts outstanding as of July 31, 2023:
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Russell 2000 E-Mini Index | 31 | 09/15/2023 | USD | 3,120,770 | 175,289 |
Abbreviations | |
USD | United States Dollar |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (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.
Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC 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 value (“NAV”) of the Fund is 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) | $958,989,280 | $— | $— (b) | $958,989,280 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $175,289 | $— | $— | $175,289 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
(b) | Value is zero. |
B. Investment Transactions with Affiliates — The Fund invested in Underlying Funds 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.
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
The 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, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at July 31, 2023 | Shares at July 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.52% (a) (b) | $10,003,601 | $147,000,001 | $63,000,000 | $(1,794 ) | $(803 ) | $94,001,005 | 93,982,208 | $1,036,595 | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.27% (a) (b) | 1,618,100 | 120,194,245 | 111,181,414 | — | — | 10,630,931 | 10,630,931 | 170,938 | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.27% (a) (b) | 8,224,756 | 34,218,557 | 39,762,255 | — | — | 2,681,058 | 2,681,058 | 240,959 | — |
Total | $19,846,457 | $301,412,803 | $213,943,669 | $(1,794 ) | $(803 ) | $107,312,994 | $1,448,492 | $— |
(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, 2023. |