JPMorgan Diversified Return International 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 Diversified Return International 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 — 99.5% | ||
Australia — 11.0% | ||
AGL Energy Ltd. | 255,153 | 2,091,115 |
Altium Ltd. | 27,109 | 697,580 |
Alumina Ltd. | 514,670 | 496,814 |
Ampol Ltd. | 50,986 | 1,129,169 |
Ansell Ltd. | 57,853 | 939,516 |
ANZ Group Holdings Ltd. | 27,074 | 469,712 |
APA Group | 159,849 | 1,075,325 |
Aurizon Holdings Ltd. | 134,391 | 344,419 |
BHP Group Ltd. | 47,027 | 1,463,568 |
BlueScope Steel Ltd. | 6,143 | 90,591 |
Charter Hall Group, REIT | 40,708 | 313,768 |
Cochlear Ltd. | 6,970 | 1,121,281 |
Coles Group Ltd. | 137,278 | 1,678,719 |
CSR Ltd. | 280,234 | 1,080,981 |
Dexus, REIT | 229,923 | 1,272,576 |
EBOS Group Ltd. | 7,823 | 187,472 |
Endeavour Group Ltd. | 44,918 | 183,595 |
Flutter Entertainment plc * | 5,101 | 1,015,269 |
Fortescue Metals Group Ltd. | 79,595 | 1,170,105 |
Glencore plc | 247,284 | 1,503,842 |
GPT Group (The), REIT | 443,214 | 1,295,453 |
Harvey Norman Holdings Ltd. (a) | 271,533 | 690,798 |
Iluka Resources Ltd. | 35,286 | 243,719 |
Incitec Pivot Ltd. | 274,948 | 559,302 |
JB Hi-Fi Ltd. | 36,238 | 1,114,528 |
Lottery Corp. Ltd. (The) | 339,964 | 1,183,039 |
Metcash Ltd. | 371,919 | 900,616 |
Mirvac Group, REIT | 215,316 | 339,403 |
New Hope Corp. Ltd. | 162,241 | 581,027 |
Origin Energy Ltd. | 286,240 | 1,629,574 |
Pilbara Minerals Ltd. | 99,149 | 324,371 |
Ramsay Health Care Ltd. | 19,041 | 754,562 |
REA Group Ltd. | 3,302 | 350,057 |
Rio Tinto Ltd. | 16,556 | 1,310,984 |
Rio Tinto plc | 21,058 | 1,391,887 |
Santos Ltd. | 273,333 | 1,470,803 |
Sonic Healthcare Ltd. | 60,637 | 1,432,719 |
South32 Ltd. | 364,523 | 959,861 |
Stockland, REIT | 266,536 | 757,504 |
Tabcorp Holdings Ltd. | 715,842 | 507,807 |
Telstra Group Ltd. | 442,848 | 1,267,526 |
Treasury Wine Estates Ltd. | 154,587 | 1,170,019 |
Vicinity Ltd., REIT | 644,784 | 857,308 |
Wesfarmers Ltd. | 42,577 | 1,422,589 |
Whitehaven Coal Ltd. | 304,691 | 1,423,671 |
WiseTech Global Ltd. | 20,557 | 1,187,147 |
Woodside Energy Group Ltd. | 60,979 | 1,571,745 |
JPMorgan Diversified Return International 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 | ||
Australia — continued | ||
Woolworths Group Ltd. | 32,279 | 838,249 |
Yancoal Australia Ltd. (a) | 89,324 | 306,729 |
46,168,414 | ||
Austria — 0.5% | ||
Mondi plc | 79,364 | 1,392,092 |
OMV AG | 17,494 | 788,176 |
2,180,268 | ||
Belgium — 0.3% | ||
D'ieteren Group | 830 | 144,956 |
Proximus SADP | 60,684 | 465,251 |
Solvay SA | 4,430 | 532,036 |
1,142,243 | ||
Brazil — 0.3% | ||
Yara International ASA | 31,719 | 1,295,468 |
Burkina Faso — 0.1% | ||
Endeavour Mining plc | 12,883 | 310,430 |
Cambodia — 0.0% ^ | ||
NagaCorp Ltd. * | 72,945 | 45,949 |
Chile — 0.4% | ||
Antofagasta plc | 73,795 | 1,587,315 |
China — 1.5% | ||
Budweiser Brewing Co. APAC Ltd. (b) | 353,406 | 861,999 |
Chow Tai Fook Jewellery Group Ltd. | 132,357 | 231,083 |
Lenovo Group Ltd. | 1,696,000 | 1,952,417 |
SITC International Holdings Co. Ltd. | 117,917 | 258,375 |
Want Want China Holdings Ltd. | 1,477,152 | 1,030,126 |
Wilmar International Ltd. | 427,100 | 1,241,039 |
Xinyi Glass Holdings Ltd. | 456,000 | 758,828 |
6,333,867 | ||
Denmark — 0.7% | ||
Carlsberg A/S, Class B | 9,002 | 1,350,139 |
DSV A/S | 314 | 62,844 |
Novo Nordisk A/S, Class B | 10,261 | 1,654,609 |
3,067,592 | ||
Finland — 1.0% | ||
Elisa OYJ | 24,783 | 1,292,816 |
Kesko OYJ, Class B | 40,060 | 801,548 |
Orion OYJ, Class B | 13,449 | 516,860 |
Stora Enso OYJ, Class R | 61,995 | 760,012 |
UPM-Kymmene OYJ | 30,040 | 994,555 |
4,365,791 | ||
France — 4.5% | ||
Air Liquide SA | 2,371 | 426,291 |
Arkema SA | 9,214 | 993,629 |
JPMorgan Diversified Return International 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 | ||
France — continued | ||
Capgemini SE | 7,767 | 1,407,525 |
Carrefour SA | 84,310 | 1,685,453 |
Covivio SA, REIT | 10,049 | 485,182 |
Danone SA | 21,955 | 1,340,720 |
Eiffage SA | 14,537 | 1,512,394 |
Engie SA | 52,932 | 868,367 |
EssilorLuxottica SA | 1,282 | 257,907 |
Gecina SA, REIT | 11,373 | 1,229,564 |
Klepierre SA, REIT | 58,575 | 1,554,795 |
Orange SA | 118,649 | 1,341,189 |
Pernod Ricard SA | 5,233 | 1,153,728 |
Publicis Groupe SA | 15,788 | 1,272,914 |
TotalEnergies SE | 24,750 | 1,503,724 |
Unibail-Rodamco-Westfield, REIT * | 4,860 | 275,381 |
Vinci SA | 11,927 | 1,400,795 |
Vivendi SE | 40,975 | 365,839 |
19,075,397 | ||
Germany — 2.5% | ||
Bayerische Motoren Werke AG | 10,437 | 1,272,791 |
Covestro AG * (b) | 7,436 | 399,453 |
Deutsche Telekom AG (Registered) | 77,170 | 1,682,401 |
E.ON SE | 25,856 | 327,087 |
Fresenius Medical Care AG & Co. KGaA | 18,366 | 953,829 |
Hannover Rueck SE | 1,828 | 390,048 |
Hella GmbH & Co. KGaA | 3,335 | 264,277 |
Infineon Technologies AG | 5,021 | 220,600 |
LEG Immobilien SE * | 7,024 | 496,615 |
Mercedes-Benz Group AG | 19,337 | 1,544,309 |
Merck KGaA | 4,502 | 791,114 |
SAP SE | 10,667 | 1,455,103 |
Telefonica Deutschland Holding AG | 329,839 | 888,712 |
10,686,339 | ||
Hong Kong — 3.1% | ||
ASMPT Ltd. | 50,700 | 494,533 |
CK Asset Holdings Ltd. | 246,766 | 1,429,040 |
CK Infrastructure Holdings Ltd. | 259,000 | 1,372,530 |
CLP Holdings Ltd. | 136,500 | 1,112,630 |
Hong Kong & China Gas Co. Ltd. | 425,393 | 364,926 |
Hutchison Port Holdings Trust | 1,536,400 | 284,401 |
MTR Corp. Ltd. | 122,000 | 562,213 |
New World Development Co. Ltd. | 67,750 | 167,544 |
Orient Overseas International Ltd. | 75,500 | 1,261,622 |
PCCW Ltd. | 1,670,000 | 853,871 |
Power Assets Holdings Ltd. | 278,500 | 1,459,681 |
Sun Hung Kai Properties Ltd. | 95,000 | 1,192,880 |
Swire Pacific Ltd., Class A | 97,000 | 810,846 |
WH Group Ltd. (b) | 2,005,743 | 1,094,715 |
JPMorgan Diversified Return International 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 | ||
Hong Kong — continued | ||
Wharf Real Estate Investment Co. Ltd. | 43,000 | 230,758 |
Yue Yuen Industrial Holdings Ltd. | 187,000 | 250,553 |
12,942,743 | ||
Indonesia — 0.0% ^ | ||
First Pacific Co. Ltd. | 314,000 | 113,845 |
Ireland — 0.5% | ||
CRH plc | 28,648 | 1,706,588 |
Smurfit Kappa Group plc | 12,976 | 513,473 |
2,220,061 | ||
Italy — 2.3% | ||
A2A SpA | 252,525 | 481,807 |
Assicurazioni Generali SpA | 27,463 | 584,976 |
Banca Mediolanum SpA | 35,500 | 344,951 |
Coca-Cola HBC AG | 53,107 | 1,562,565 |
Eni SpA | 76,279 | 1,164,541 |
Italgas SpA | 186,949 | 1,101,475 |
Poste Italiane SpA (b) | 90,740 | 1,036,568 |
Recordati Industria Chimica e Farmaceutica SpA | 15,528 | 801,867 |
Snam SpA | 40,801 | 214,481 |
Terna - Rete Elettrica Nazionale | 128,828 | 1,088,468 |
UniCredit SpA | 56,170 | 1,422,239 |
9,803,938 | ||
Japan — 28.9% | ||
Activia Properties, Inc., REIT | 160 | 465,943 |
Advance Residence Investment Corp., REIT | 151 | 367,931 |
Advantest Corp. | 3,400 | 470,254 |
Aeon Mall Co. Ltd. | 21,500 | 265,730 |
AEON REIT Investment Corp., REIT (a) | 425 | 447,385 |
Ajinomoto Co., Inc. | 40,000 | 1,558,596 |
Alfresa Holdings Corp. | 48,800 | 778,250 |
Anritsu Corp. | 42,800 | 336,992 |
Aozora Bank Ltd. (a) | 15,100 | 310,542 |
Asahi Group Holdings Ltd. | 30,200 | 1,187,140 |
Astellas Pharma, Inc. | 99,000 | 1,447,613 |
Canon Marketing Japan, Inc. | 31,300 | 821,446 |
Canon, Inc. | 63,100 | 1,630,844 |
Capcom Co. Ltd. | 38,700 | 1,740,223 |
Chubu Electric Power Co., Inc. | 130,400 | 1,633,626 |
Chugai Pharmaceutical Co. Ltd. | 47,000 | 1,398,779 |
COMSYS Holdings Corp. | 42,800 | 855,514 |
Cosmo Energy Holdings Co. Ltd. | 50,500 | 1,565,761 |
Dai Nippon Printing Co. Ltd. | 25,300 | 719,178 |
Daito Trust Construction Co. Ltd. | 16,500 | 1,774,881 |
Daiwa House REIT Investment Corp., REIT | 272 | 535,522 |
Daiwa Securities Group, Inc. | 190,500 | 1,032,683 |
DIC Corp. | 6,500 | 122,698 |
JPMorgan Diversified Return International 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 | ||
Japan — continued | ||
Dowa Holdings Co. Ltd. | 12,600 | 406,928 |
Electric Power Development Co. Ltd. | 97,100 | 1,536,171 |
ENEOS Holdings, Inc. | 194,100 | 704,222 |
Fuji Media Holdings, Inc. | 10,900 | 120,692 |
FUJIFILM Holdings Corp. | 22,400 | 1,300,671 |
Fukuoka Financial Group, Inc. | 11,700 | 281,919 |
H.U. Group Holdings, Inc. | 35,000 | 691,026 |
Hachijuni Bank Ltd. (The) | 81,600 | 420,415 |
Hikari Tsushin, Inc. | 5,000 | 741,936 |
Hoya Corp. | 500 | 58,230 |
Hulic Co. Ltd. | 62,100 | 528,732 |
Idemitsu Kosan Co. Ltd. | 42,837 | 904,582 |
Iida Group Holdings Co. Ltd. | 11,700 | 205,247 |
Inpex Corp. | 128,300 | 1,656,638 |
ITOCHU Corp. | 44,600 | 1,803,861 |
Itochu Techno-Solutions Corp. | 13,000 | 329,474 |
Iwatani Corp. | 19,400 | 1,035,558 |
Japan Metropolitan Fund Invest, REIT | 1,330 | 912,244 |
Japan Post Holdings Co. Ltd. | 156,600 | 1,143,586 |
Japan Post Insurance Co. Ltd. | 71,900 | 1,161,917 |
Japan Real Estate Investment Corp., REIT | 16 | 64,354 |
Japan Tobacco, Inc. | 71,900 | 1,595,433 |
Kajima Corp. | 34,500 | 545,185 |
Kaken Pharmaceutical Co. Ltd. | 8,400 | 209,148 |
Kaneka Corp. | 1,600 | 47,142 |
Kansai Electric Power Co., Inc. (The) | 136,800 | 1,797,180 |
Kawasaki Kisen Kaisha Ltd. | 27,200 | 820,206 |
KDDI Corp. | 50,500 | 1,486,301 |
Kinden Corp. | 21,600 | 297,899 |
Kobe Steel Ltd. | 140,500 | 1,536,696 |
K's Holdings Corp. | 82,500 | 757,209 |
Kuraray Co. Ltd. | 27,300 | 274,708 |
Kyowa Kirin Co. Ltd. | 41,500 | 792,471 |
Kyushu Electric Power Co., Inc. * | 89,300 | 606,349 |
Lawson, Inc. | 26,400 | 1,324,615 |
Lintec Corp. | 27,000 | 445,605 |
Mani, Inc. | 19,500 | 250,761 |
Marubeni Corp. | 107,600 | 1,905,058 |
Matsui Securities Co. Ltd. | 2,600 | 14,691 |
MatsukiyoCocokara & Co. | 24,700 | 1,445,484 |
Mebuki Financial Group, Inc. | 102,100 | 271,249 |
Medipal Holdings Corp. | 55,800 | 956,777 |
MEIJI Holdings Co. Ltd. | 46,700 | 1,078,953 |
Mitsubishi Chemical Group Corp. | 135,600 | 811,136 |
Mitsubishi Corp. | 23,300 | 1,192,179 |
Mitsubishi Gas Chemical Co., Inc. | 27,200 | 407,960 |
Mitsubishi HC Capital, Inc. | 213,700 | 1,413,705 |
Mitsubishi UFJ Financial Group, Inc. | 128,200 | 1,032,299 |
JPMorgan Diversified Return International 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 | ||
Japan — continued | ||
Mitsui & Co. Ltd. | 48,700 | 1,900,766 |
Mitsui Fudosan Co. Ltd. | 50,500 | 1,037,520 |
Mitsui Mining & Smelting Co. Ltd. | 31,200 | 737,468 |
Morinaga Milk Industry Co. Ltd. | 4,100 | 138,090 |
MS&AD Insurance Group Holdings, Inc. | 19,500 | 725,270 |
Nifco, Inc. | 4,900 | 146,048 |
Nintendo Co. Ltd. | 31,100 | 1,406,801 |
Nippon Electric Glass Co. Ltd. | 9,600 | 174,371 |
Nippon Shinyaku Co. Ltd. | 4,200 | 169,846 |
Nippon Shokubai Co. Ltd. | 6,500 | 250,228 |
Nippon Steel Corp. | 67,400 | 1,540,520 |
Nippon Telegraph & Telephone Corp. | 1,348,500 | 1,546,350 |
Nippon Yusen KK | 38,000 | 924,394 |
Nisshin Seifun Group, Inc. | 7,200 | 89,287 |
Nissin Foods Holdings Co. Ltd. | 12,700 | 1,070,808 |
Niterra Co. Ltd. | 58,100 | 1,228,526 |
Nitto Denko Corp. | 19,400 | 1,379,554 |
NOF Corp. | 8,700 | 375,437 |
Nomura Real Estate Holdings, Inc. | 64,400 | 1,597,316 |
Nomura Real Estate Master Fund, Inc., REIT | 423 | 503,259 |
Obayashi Corp. | 60,600 | 560,298 |
Ono Pharmaceutical Co. Ltd. | 58,200 | 1,066,534 |
Open House Group Co. Ltd. | 29,300 | 1,114,933 |
ORIX Corp. | 66,100 | 1,271,535 |
Osaka Gas Co. Ltd. | 89,400 | 1,406,695 |
Otsuka Holdings Co. Ltd. | 41,300 | 1,518,490 |
Resona Holdings, Inc. | 251,700 | 1,370,276 |
Rohto Pharmaceutical Co. Ltd. | 13,500 | 287,747 |
Sankyo Co. Ltd. | 19,400 | 820,651 |
Sapporo Holdings Ltd. | 4,100 | 108,020 |
Sawai Group Holdings Co. Ltd. | 8,900 | 221,675 |
SBI Holdings, Inc. | 2,700 | 57,017 |
SCREEN Holdings Co. Ltd. | 14,900 | 1,609,936 |
SCSK Corp. | 27,300 | 453,864 |
Seiko Epson Corp. (a) | 38,900 | 638,804 |
Sekisui Chemical Co. Ltd. | 29,900 | 454,166 |
Sekisui House Ltd. | 44,600 | 909,916 |
Sekisui House REIT, Inc., REIT | 727 | 431,526 |
Shimamura Co. Ltd. | 4,500 | 445,661 |
Shionogi & Co. Ltd. | 25,500 | 1,068,656 |
Ship Healthcare Holdings, Inc. | 7,300 | 118,234 |
Skylark Holdings Co. Ltd. * | 34,900 | 451,588 |
SoftBank Corp. | 143,100 | 1,589,055 |
SoftBank Group Corp. | 27,600 | 1,403,803 |
Sojitz Corp. | 78,320 | 1,859,495 |
Sugi Holdings Co. Ltd. | 7,800 | 347,729 |
SUMCO Corp. | 29,000 | 422,586 |
Sumitomo Chemical Co. Ltd. | 393,000 | 1,212,074 |
JPMorgan Diversified Return International 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 | ||
Japan — continued | ||
Sumitomo Mitsui Financial Group, Inc. | 31,500 | 1,475,828 |
Sumitomo Pharma Co. Ltd. | 49,300 | 204,348 |
Suntory Beverage & Food Ltd. | 26,600 | 946,881 |
Suzuken Co. Ltd. | 4,700 | 137,229 |
Taisho Pharmaceutical Holdings Co. Ltd. | 2,600 | 100,249 |
Takeda Pharmaceutical Co. Ltd. | 50,500 | 1,544,030 |
Teijin Ltd. | 43,800 | 468,473 |
TIS, Inc. | 3,800 | 96,382 |
Toho Gas Co. Ltd. | 19,500 | 365,361 |
Tohoku Electric Power Co., Inc. * | 182,700 | 1,215,178 |
Tokyo Electron Ltd. | 10,700 | 1,605,932 |
Tokyo Gas Co. Ltd. | 72,800 | 1,650,819 |
Tokyo Tatemono Co. Ltd. | 85,900 | 1,147,924 |
Tokyu Fudosan Holdings Corp. | 194,000 | 1,153,319 |
Tosoh Corp. | 55,300 | 722,808 |
Toyo Suisan Kaisha Ltd. | 23,100 | 955,466 |
Toyota Boshoku Corp. | 16,000 | 291,919 |
Trend Micro, Inc. | 11,700 | 552,775 |
Tsumura & Co. | 22,700 | 422,441 |
UBE Corp. | 42,800 | 781,193 |
United Urban Investment Corp., REIT | 379 | 409,082 |
USS Co. Ltd. | 53,100 | 920,759 |
Yakult Honsha Co. Ltd. | 12,600 | 699,122 |
Yamada Holdings Co. Ltd. | 125,000 | 377,642 |
Yamaguchi Financial Group, Inc. | 3,900 | 30,328 |
Yamaha Motor Co. Ltd. | 59,500 | 1,745,070 |
Yokohama Rubber Co. Ltd. (The) | 36,700 | 822,941 |
Zeon Corp. | 17,900 | 193,056 |
121,991,711 | ||
Jordan — 0.4% | ||
Hikma Pharmaceuticals plc | 66,243 | 1,778,948 |
Luxembourg — 0.1% | ||
RTL Group SA | 13,061 | 564,171 |
Mexico — 0.1% | ||
Fresnillo plc | 61,953 | 490,993 |
Netherlands — 3.4% | ||
ABN AMRO Bank NV, CVA (b) | 58,298 | 991,253 |
ASML Holding NV | 1,377 | 986,302 |
ASR Nederland NV | 29,645 | 1,343,790 |
BE Semiconductor Industries NV | 8,573 | 1,023,604 |
Heineken Holding NV | 14,112 | 1,156,834 |
Heineken NV | 4,978 | 487,254 |
Koninklijke Ahold Delhaize NV | 50,789 | 1,750,627 |
Koninklijke KPN NV | 469,392 | 1,698,380 |
NN Group NV | 33,908 | 1,299,861 |
OCI NV | 11,917 | 339,632 |
JPMorgan Diversified Return International 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 | ||
Netherlands — continued | ||
Shell plc | 49,524 | 1,500,962 |
Wolters Kluwer NV | 13,002 | 1,632,740 |
14,211,239 | ||
New Zealand — 0.5% | ||
Fisher & Paykel Healthcare Corp. Ltd. | 70,023 | 1,069,045 |
Spark New Zealand Ltd. | 371,990 | 1,197,639 |
2,266,684 | ||
Norway — 1.0% | ||
Aker BP ASA | 7,976 | 223,428 |
DNB Bank ASA | 19,921 | 410,522 |
Equinor ASA | 39,424 | 1,205,920 |
Mowi ASA | 5,940 | 104,425 |
Norsk Hydro ASA | 187,144 | 1,225,685 |
Orkla ASA | 80,031 | 631,511 |
Salmar ASA | 317 | 14,645 |
Telenor ASA | 39,722 | 425,222 |
4,241,358 | ||
Poland — 0.2% | ||
ORLEN SA * | 34,394 | 613,024 |
Portugal — 0.3% | ||
Jeronimo Martins SGPS SA | 51,964 | 1,414,761 |
Russia — 0.0% ^ | ||
Evraz plc ‡ * | 393,430 | 20,671 |
Singapore — 3.8% | ||
CapitaLand Ascendas, REIT | 593,542 | 1,255,119 |
CapitaLand Integrated Commercial Trust, REIT | 1,037,608 | 1,593,024 |
City Developments Ltd. | 33,900 | 188,630 |
ComfortDelGro Corp. Ltd. | 239,400 | 227,057 |
DBS Group Holdings Ltd. | 62,900 | 1,622,634 |
Jardine Cycle & Carriage Ltd. | 24,800 | 640,084 |
Keppel Corp. Ltd. | 238,700 | 1,325,557 |
Mapletree Logistics Trust, REIT | 243,900 | 310,066 |
Mapletree Pan Asia Commercial Trust, REIT | 198,200 | 246,169 |
Oversea-Chinese Banking Corp. Ltd. | 136,000 | 1,361,055 |
Sembcorp Industries Ltd. | 474,900 | 1,946,796 |
Singapore Airlines Ltd. | 139,600 | 790,838 |
Singapore Telecommunications Ltd. | 693,300 | 1,390,805 |
STMicroelectronics NV | 14,071 | 752,607 |
Suntec, REIT | 1,157,900 | 1,123,594 |
Venture Corp. Ltd. | 109,100 | 1,229,985 |
16,004,020 | ||
South Africa — 0.3% | ||
Anglo American plc | 39,813 | 1,224,321 |
South Korea — 7.4% | ||
Daewoo Engineering & Construction Co. Ltd. * | 68,395 | 242,621 |
JPMorgan Diversified Return International 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 | ||
South Korea — continued | ||
DB Insurance Co. Ltd. | 3,550 | 209,913 |
DL Holdings Co. Ltd. | 6,047 | 186,142 |
Doosan Bobcat, Inc. | 6,083 | 279,036 |
E-MART, Inc. | 2,682 | 159,197 |
F&F Co. Ltd. | 3,777 | 306,648 |
GS Engineering & Construction Corp. | 33,139 | 380,177 |
GS Holdings Corp. | 5,995 | 177,149 |
GS Retail Co. Ltd. | 18,969 | 316,016 |
Hana Financial Group, Inc. | 43,592 | 1,343,310 |
Hanwha Aerospace Co. Ltd. | 12,659 | 1,214,502 |
Hanwha Corp. | 17,463 | 422,688 |
Hanwha Life Insurance Co. Ltd. * | 103,567 | 192,109 |
HD Hyundai Infracore Co. Ltd. | 56,475 | 546,226 |
Hite Jinro Co. Ltd. | 13,115 | 208,785 |
Hyundai Department Store Co. Ltd. | 2,016 | 87,622 |
Hyundai Mobis Co. Ltd. | 2,840 | 518,914 |
Industrial Bank of Korea | 101,862 | 830,439 |
KB Financial Group, Inc. | 38,632 | 1,547,266 |
Kia Corp. | 23,258 | 1,509,428 |
Korea Gas Corp. * | 24,131 | 469,617 |
Korea Investment Holdings Co. Ltd. | 2,994 | 114,727 |
Korean Air Lines Co. Ltd. | 26,298 | 507,610 |
KT&G Corp. | 24,205 | 1,566,256 |
LG Corp. | 20,298 | 1,328,795 |
LG Innotek Co. Ltd. | 5,528 | 1,146,258 |
LG Uplus Corp. | 52,779 | 414,260 |
Mirae Asset Securities Co. Ltd. | 20,415 | 110,980 |
NAVER Corp. | 996 | 177,455 |
NH Investment & Securities Co. Ltd. | 30,162 | 234,236 |
NongShim Co. Ltd. | 919 | 285,937 |
Orion Corp. | 10,124 | 901,090 |
POSCO Holdings, Inc. | 4,453 | 2,243,784 |
Posco International Corp. | 23,755 | 1,680,975 |
Samsung Electronics Co. Ltd. | 29,654 | 1,623,636 |
Samsung Engineering Co. Ltd. * | 24,705 | 716,619 |
Samsung Fire & Marine Insurance Co. Ltd. | 3,461 | 661,559 |
Samsung Securities Co. Ltd. | 17,864 | 503,064 |
SK Hynix, Inc. | 18,908 | 1,831,146 |
SK Square Co. Ltd. * | 5,631 | 196,048 |
S-Oil Corp. | 5,014 | 294,744 |
Woori Financial Group, Inc. | 162,683 | 1,486,788 |
Yuhan Corp. | 33,203 | 1,899,740 |
31,073,512 | ||
Spain — 2.3% | ||
Acciona SA | 5,601 | 839,583 |
Enagas SA | 41,672 | 739,533 |
Endesa SA | 70,321 | 1,507,179 |
JPMorgan Diversified Return International 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 | ||
Spain — continued | ||
Iberdrola SA | 131,525 | 1,641,633 |
Industria de Diseno Textil SA | 17,967 | 687,738 |
Merlin Properties Socimi SA, REIT | 56,760 | 528,945 |
Naturgy Energy Group SA | 53,555 | 1,632,931 |
Redeia Corp. SA | 43,715 | 731,162 |
Repsol SA | 53,203 | 812,273 |
Telefonica SA | 168,330 | 717,215 |
9,838,192 | ||
Sweden — 2.2% | ||
Boliden AB | 34,297 | 1,008,650 |
Castellum AB (a) | 114,711 | 1,306,342 |
Fastighets AB Balder, Class B * | 60,225 | 281,038 |
Getinge AB, Class B | 19,843 | 369,735 |
H & M Hennes & Mauritz AB, Class B | 38,720 | 651,262 |
Hexagon AB, Class B | 74,519 | 722,522 |
Investor AB, Class B | 19,042 | 388,914 |
Sagax AB, Class B | 20,500 | 455,216 |
Securitas AB, Class B | 109,497 | 932,014 |
Skanska AB, Class B | 33,950 | 541,482 |
SSAB AB, Class B | 67,580 | 413,451 |
Tele2 AB, Class B | 138,972 | 1,045,703 |
Telia Co. AB | 76,074 | 163,482 |
Trelleborg AB, Class B | 34,538 | 919,493 |
9,199,304 | ||
Switzerland — 1.4% | ||
Kuehne + Nagel International AG (Registered) | 2,137 | 668,659 |
Novartis AG (Registered) | 16,185 | 1,694,525 |
PSP Swiss Property AG (Registered) | 2,127 | 250,646 |
Sonova Holding AG (Registered) | 1,964 | 547,455 |
Swiss Prime Site AG (Registered) | 9,519 | 921,529 |
Swisscom AG (Registered) | 2,526 | 1,624,359 |
5,707,173 | ||
United Kingdom — 15.8% | ||
3i Group plc | 65,042 | 1,650,193 |
abrdn plc | 236,299 | 703,219 |
Admiral Group plc | 22,872 | 624,475 |
Ashtead Group plc | 2,031 | 150,261 |
Associated British Foods plc | 57,999 | 1,526,361 |
AstraZeneca plc | 11,425 | 1,641,502 |
Auto Trader Group plc (b) | 122,847 | 1,018,841 |
Aviva plc | 223,692 | 1,114,470 |
B&M European Value Retail SA | 181,811 | 1,291,388 |
BAE Systems plc | 135,736 | 1,623,275 |
Barratt Developments plc | 119,983 | 702,334 |
BP plc | 186,509 | 1,157,186 |
British American Tobacco plc | 43,024 | 1,446,816 |
JPMorgan Diversified Return International 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 | ||
United Kingdom — continued | ||
British Land Co. plc (The), REIT | 247,586 | 1,074,326 |
BT Group plc | 816,285 | 1,279,108 |
Bunzl plc | 34,630 | 1,283,664 |
Burberry Group plc | 43,621 | 1,245,172 |
Centrica plc | 1,054,089 | 1,868,007 |
CK Hutchison Holdings Ltd. | 79,756 | 491,882 |
Compass Group plc | 14,727 | 383,162 |
ConvaTec Group plc (b) | 489,953 | 1,312,654 |
Croda International plc | 15,309 | 1,159,094 |
Dechra Pharmaceuticals plc | 1,977 | 94,249 |
Derwent London plc, REIT | 35,445 | 963,201 |
Diageo plc | 31,766 | 1,386,341 |
Direct Line Insurance Group plc | 330,710 | 638,619 |
DS Smith plc | 158,505 | 630,192 |
HSBC Holdings plc | 220,875 | 1,834,680 |
IMI plc | 53,920 | 1,127,329 |
Imperial Brands plc | 65,459 | 1,546,498 |
Informa plc | 135,406 | 1,317,485 |
InterContinental Hotels Group plc | 13,013 | 961,755 |
Intertek Group plc | 11,376 | 637,266 |
J Sainsbury plc | 428,769 | 1,526,626 |
Johnson Matthey plc | 44,644 | 1,032,498 |
Land Securities Group plc, REIT | 154,498 | 1,283,074 |
Legal & General Group plc | 480,655 | 1,440,460 |
M&G plc | 190,377 | 490,392 |
National Grid plc | 24,809 | 328,839 |
NatWest Group plc | 360,905 | 1,132,896 |
Next plc | 16,137 | 1,459,445 |
Pearson plc | 137,756 | 1,523,797 |
Phoenix Group Holdings plc | 96,896 | 684,582 |
Rentokil Initial plc | 64,778 | 528,210 |
Rightmove plc | 214,130 | 1,568,929 |
Rolls-Royce Holdings plc * | 128,810 | 305,426 |
Sage Group plc (The) | 133,567 | 1,606,622 |
Segro plc, REIT | 40,791 | 399,734 |
Severn Trent plc | 26,403 | 865,330 |
Smith & Nephew plc | 40,900 | 622,212 |
Smiths Group plc | 76,170 | 1,661,242 |
SSE plc (a) | 68,284 | 1,476,515 |
St. James's Place plc | 4,557 | 55,008 |
Standard Chartered plc | 65,274 | 626,993 |
Tate & Lyle plc | 136,484 | 1,307,545 |
Taylor Wimpey plc | 421,212 | 618,281 |
Tesco plc | 486,324 | 1,610,741 |
Unilever plc | 30,669 | 1,647,935 |
UNITE Group plc (The), REIT | 39,798 | 496,901 |
United Utilities Group plc | 122,506 | 1,570,962 |
Vodafone Group plc | 1,265,647 | 1,203,961 |
JPMorgan Diversified Return International 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 | ||
United Kingdom — continued | ||
Wise plc, Class A * | 29,707 | 296,294 |
WPP plc | 117,949 | 1,287,855 |
66,544,310 | ||
United States — 2.7% | ||
CSL Ltd. | 7,637 | 1,375,548 |
Ferguson plc | 10,816 | 1,739,435 |
GSK plc | 93,622 | 1,666,582 |
Haleon plc | 389,407 | 1,680,846 |
Holcim Ltd. | 18,832 | 1,312,533 |
Roche Holding AG | 4,605 | 1,427,787 |
Sanofi | 6,188 | 660,164 |
Schneider Electric SE | 3,855 | 687,624 |
Sims Ltd. | 69,864 | 712,664 |
11,263,183 | ||
Total Common Stocks (Cost $428,536,267) | 419,787,235 | |
Short-Term Investments — 0.9% | ||
Investment Companies — 0.1% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.43% (c) (d)(Cost $294,981) | 294,922 | 294,981 |
Investment of Cash Collateral from Securities Loaned — 0.8% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.52% (c) (d) | 1,258,726 | 1,258,977 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.27% (c) (d) | 2,297,066 | 2,297,066 |
Total Investment of Cash Collateral from Securities Loaned (Cost $3,556,043) | 3,556,043 | |
Total Short-Term Investments (Cost $3,851,024) | 3,851,024 | |
Total Investments — 100.4% (Cost $432,387,291) | 423,638,259 | |
Liabilities in Excess of Other Assets — (0.4)% | (1,538,831 ) | |
NET ASSETS — 100.0% | 422,099,428 |
Percentages indicated are based on net assets. |
Abbreviations | |
APAC | Asia Pacific |
CVA | Dutch Certification |
OYJ | Public Limited Company |
REIT | Real Estate Investment Trust |
SGPS | Holding company |
^ | 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 $3,380,885. | |
(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. |
JPMorgan Diversified Return International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
(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. |
Summary of Investments by Industry, July 31, 2023
The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 5.9 % |
Metals & Mining | 5.3 |
Oil, Gas & Consumable Fuels | 5.1 |
Banks | 4.8 |
Diversified Telecommunication Services | 4.3 |
Electric Utilities | 4.3 |
Consumer Staples Distribution & Retail | 3.8 |
Real Estate Management & Development | 3.6 |
Food Products | 3.6 |
Chemicals | 3.4 |
Trading Companies & Distributors | 3.2 |
Insurance | 3.1 |
Beverages | 2.7 |
Semiconductors & Semiconductor Equipment | 2.2 |
Diversified REITs | 2.1 |
Gas Utilities | 2.1 |
Multi-Utilities | 1.9 |
Technology Hardware, Storage & Peripherals | 1.7 |
Construction & Engineering | 1.7 |
Industrial Conglomerates | 1.6 |
Wireless Telecommunication Services | 1.6 |
Health Care Equipment & Supplies | 1.5 |
Tobacco | 1.5 |
Automobiles | 1.4 |
Health Care Providers & Services | 1.4 |
Retail REITs | 1.4 |
Software | 1.3 |
Specialty Retail | 1.2 |
Broadline Retail | 1.2 |
Media | 1.2 |
Hotels, Restaurants & Leisure | 1.1 |
Capital Markets | 1.1 |
Electronic Equipment, Instruments & Components | 1.0 |
Financial Services | 1.0 |
Construction Materials | 1.0 |
Others (each less than 1.0%) | 13.8 |
Short-Term Investments | 0.9 |
JPMorgan Diversified Return International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
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 | |||||
MSCI EAFE E-Mini Index | 14 | 09/15/2023 | USD | 1,544,200 | 52,146 |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
JPMorgan Diversified Return International 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.
A market-based approach is primarily used to value the Fund's investments. Investments for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.
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. Certain foreign equity instruments are valued by applying international fair value factors provided by approved Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAV is calculated.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAVs 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.
JPMorgan Diversified Return International 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 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 | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $46,168,414 | $— | $46,168,414 |
Austria | — | 2,180,268 | — | 2,180,268 |
Belgium | — | 1,142,243 | — | 1,142,243 |
Brazil | — | 1,295,468 | — | 1,295,468 |
Burkina Faso | — | 310,430 | — | 310,430 |
Cambodia | — | 45,949 | — | 45,949 |
Chile | — | 1,587,315 | — | 1,587,315 |
China | — | 6,333,867 | — | 6,333,867 |
Denmark | — | 3,067,592 | — | 3,067,592 |
Finland | — | 4,365,791 | — | 4,365,791 |
France | — | 19,075,397 | — | 19,075,397 |
Germany | — | 10,686,339 | — | 10,686,339 |
Hong Kong | — | 12,942,743 | — | 12,942,743 |
Indonesia | — | 113,845 | — | 113,845 |
Ireland | 2,220,061 | — | — | 2,220,061 |
Italy | — | 9,803,938 | — | 9,803,938 |
Japan | — | 121,991,711 | — | 121,991,711 |
Jordan | — | 1,778,948 | — | 1,778,948 |
Luxembourg | — | 564,171 | — | 564,171 |
Mexico | — | 490,993 | — | 490,993 |
Netherlands | — | 14,211,239 | — | 14,211,239 |
New Zealand | — | 2,266,684 | — | 2,266,684 |
Norway | — | 4,241,358 | — | 4,241,358 |
Poland | — | 613,024 | — | 613,024 |
Portugal | — | 1,414,761 | — | 1,414,761 |
Russia | — | — | 20,671 | 20,671 |
Singapore | — | 16,004,020 | — | 16,004,020 |
South Africa | — | 1,224,321 | — | 1,224,321 |
South Korea | — | 31,073,512 | — | 31,073,512 |
Spain | — | 9,838,192 | — | 9,838,192 |
Sweden | — | 9,199,304 | — | 9,199,304 |
Switzerland | — | 5,707,173 | — | 5,707,173 |
United Kingdom | 1,307,545 | 65,236,765 | — | 66,544,310 |
United States | — | 11,263,183 | — | 11,263,183 |
Total Common Stocks | 3,527,606 | 416,238,958 | 20,671 | 419,787,235 |
Short-Term Investments | ||||
Investment Companies | 294,981 | — | — | 294,981 |
Investment of Cash Collateral from Securities Loaned | 3,556,043 | — | — | 3,556,043 |
Total Short-Term Investments | 3,851,024 | — | — | 3,851,024 |
Total Investments in Securities | $7,378,630 | $416,238,958 | $20,671 | $423,638,259 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $52,146 | $— | $— | $52,146 |
JPMorgan Diversified Return International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2023 (Unaudited) (continued)
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. 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 Prime Money Market Fund Class IM Shares, 5.43% (a) (b) | $569,398 | $45,381,381 | $45,656,942 | $1,112 | $32 | $294,981 | 294,922 | $35,752 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.52% (a) (b) | 2,258,925 | 55,999,999 | 57,000,000 | 1,208 | (1,155 ) | 1,258,977 | 1,258,726 | 251,690 | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.27% (a) (b) | 1,789,624 | 76,827,179 | 76,319,737 | — | — | 2,297,066 | 2,297,066 | 72,608 | — |
Total | $4,617,947 | $178,208,559 | $178,976,679 | $2,320 | $(1,123 ) | $3,851,024 | $360,050 | $— |
(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. |