JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
Schedule of Portfolio Investments as of November 30, 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. |
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© J.P. Morgan Chase & Co., 2023. |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — 98.2% | ||
Aerospace & Defense — 2.4% | ||
Boeing Co. (The) | ||
4.88%, 5/1/2025 | 98,000 | 97,003 |
3.60%, 5/1/2034 | 230,000 | 195,188 |
3.55%, 3/1/2038 | 65,000 | 50,042 |
5.71%, 5/1/2040 | 75,000 | 73,864 |
5.81%, 5/1/2050 | 29,000 | 28,277 |
General Dynamics Corp. | ||
3.25%, 4/1/2025 | 145,000 | 141,457 |
4.25%, 4/1/2040 | 53,000 | 46,598 |
2.85%, 6/1/2041 | 2,000 | 1,438 |
3.60%, 11/15/2042 | 52,000 | 40,793 |
4.25%, 4/1/2050 | 12,000 | 10,341 |
Hexcel Corp. | ||
4.95%, 8/15/2025 (a) | 74,000 | 73,103 |
4.20%, 2/15/2027 (a) | 119,000 | 113,356 |
Huntington Ingalls Industries, Inc. 4.20%, 5/1/2030 | 159,000 | 146,336 |
L3Harris Technologies, Inc. | ||
4.40%, 6/15/2028 | 150,000 | 145,159 |
2.90%, 12/15/2029 | 12,000 | 10,477 |
Lockheed Martin Corp. | ||
3.55%, 1/15/2026 | 54,000 | 52,646 |
4.07%, 12/15/2042 | 157,000 | 133,698 |
4.15%, 6/15/2053 | 48,000 | 39,882 |
5.90%, 11/15/2063 | 32,000 | 34,425 |
Northrop Grumman Corp. | ||
3.25%, 1/15/2028 | 90,000 | 84,153 |
4.03%, 10/15/2047 | 41,000 | 32,875 |
RTX Corp. | ||
3.13%, 5/4/2027 | 146,000 | 136,370 |
4.13%, 11/16/2028 | 34,000 | 32,364 |
4.45%, 11/16/2038 | 107,000 | 93,117 |
Textron, Inc. 3.88%, 3/1/2025 | 12,000 | 11,743 |
1,824,705 | ||
Air Freight & Logistics — 0.2% | ||
FedEx Corp. | ||
2.40%, 5/15/2031 | 93,000 | 77,403 |
4.05%, 2/15/2048 | 10,000 | 7,723 |
United Parcel Service, Inc. | ||
4.25%, 3/15/2049 | 98,000 | 82,650 |
5.30%, 4/1/2050 | 18,000 | 17,862 |
185,638 | ||
Automobile Components — 0.3% | ||
Aptiv plc 3.10%, 12/1/2051 | 33,000 | 19,852 |
Lear Corp. | ||
3.80%, 9/15/2027 | 128,000 | 120,509 |
3.50%, 5/30/2030 | 107,000 | 92,506 |
232,867 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Automobiles — 0.7% | ||
Ford Motor Co. | ||
4.35%, 12/8/2026 | 7,000 | 6,621 |
6.63%, 10/1/2028 | 61,000 | 61,950 |
3.25%, 2/12/2032 | 79,000 | 63,019 |
6.10%, 8/19/2032 | 28,000 | 27,298 |
4.75%, 1/15/2043 | 22,000 | 16,970 |
General Motors Co. | ||
6.13%, 10/1/2025 | 158,000 | 158,800 |
5.00%, 4/1/2035 | 15,000 | 13,575 |
5.40%, 4/1/2048 | 10,000 | 8,477 |
5.95%, 4/1/2049 | 64,000 | 58,553 |
Honda Motor Co. Ltd. (Japan) 2.97%, 3/10/2032 | 2,000 | 1,734 |
Toyota Motor Corp. (Japan) | ||
2.36%, 3/25/2031 | 103,000 | 86,967 |
5.12%, 7/13/2033 | 10,000 | 10,190 |
514,154 | ||
Banks — 16.0% | ||
Banco Santander SA (Spain) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.00%), 4.18%, 3/24/2028 (b) | 200,000 | 188,656 |
Bank of America Corp. | ||
4.25%, 10/22/2026 | 295,000 | 285,247 |
(SOFR + 1.01%), 1.20%, 10/24/2026 (b) | 116,000 | 106,298 |
(SOFR + 1.29%), 5.08%, 1/20/2027 (b) | 96,000 | 94,946 |
Series N, (SOFR + 0.91%), 1.66%, 3/11/2027 (b) | 140,000 | 127,712 |
(3-MONTH CME TERM SOFR + 1.32%), 3.56%, 4/23/2027 (b) | 100,000 | 95,098 |
(SOFR + 1.34%), 5.93%, 9/15/2027 (b) | 52,000 | 52,387 |
3.25%, 10/21/2027 | 135,000 | 126,016 |
Series L, 4.18%, 11/25/2027 | 223,000 | 212,845 |
(SOFR + 1.05%), 2.55%, 2/4/2028 (b) | 178,000 | 162,177 |
(SOFR + 2.04%), 4.95%, 7/22/2028 (b) | 5,000 | 4,902 |
(3-MONTH CME TERM SOFR + 1.30%), 3.42%, 12/20/2028 (b) | 155,000 | 142,429 |
(3-MONTH CME TERM SOFR + 1.25%), 2.50%, 2/13/2031 (b) | 237,000 | 196,925 |
Series N, (SOFR + 1.22%), 2.65%, 3/11/2032 (b) | 36,000 | 29,262 |
(SOFR + 1.32%), 2.69%, 4/22/2032 (b) | 237,000 | 192,669 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.20%), 2.48%, 9/21/2036 (b) | 168,000 | 126,940 |
6.11%, 1/29/2037 | 100,000 | 102,704 |
(SOFR + 1.93%), 2.68%, 6/19/2041 (b) | 23,000 | 15,608 |
(3-MONTH CME TERM SOFR + 2.25%), 4.44%, 1/20/2048 (b) | 162,000 | 136,625 |
(3-MONTH CME TERM SOFR + 1.45%), 3.95%, 1/23/2049 (b) | 140,000 | 109,973 |
(3-MONTH CME TERM SOFR + 3.41%), 4.08%, 3/20/2051 (b) | 37,000 | 29,302 |
Bank of Montreal (Canada) (SOFR + 0.60%), 0.95%, 1/22/2027 (b) | 220,000 | 200,118 |
Bank of Nova Scotia (The) (Canada) | ||
3.45%, 4/11/2025 | 348,000 | 338,025 |
4.85%, 2/1/2030 | 76,000 | 73,404 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 4.59%, 5/4/2037 (b) (c) | 16,000 | 13,609 |
Barclays plc (United Kingdom) | ||
4.38%, 1/12/2026 | 200,000 | 194,241 |
(SOFR + 2.21%), 5.83%, 5/9/2027 (b) | 200,000 | 198,766 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Banks — continued | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.70%), 3.81%, 3/10/2042 (b) | 201,000 | 139,176 |
Canadian Imperial Bank of Commerce (Canada) | ||
5.14%, 4/28/2025 | 138,000 | 137,115 |
5.99%, 10/3/2028 | 18,000 | 18,353 |
3.60%, 4/7/2032 | 66,000 | 57,862 |
6.09%, 10/3/2033 | 48,000 | 48,958 |
Citibank NA 5.86%, 9/29/2025 | 250,000 | 252,323 |
Citigroup, Inc. | ||
3.30%, 4/27/2025 | 13,000 | 12,616 |
(SOFR + 0.69%), 2.01%, 1/25/2026 (b) | 33,000 | 31,452 |
4.60%, 3/9/2026 | 44,000 | 42,940 |
(SOFR + 2.84%), 3.11%, 4/8/2026 (b) | 1,000 | 964 |
(SOFR + 1.55%), 5.61%, 9/29/2026 (b) | 126,000 | 125,881 |
3.20%, 10/21/2026 | 237,000 | 223,325 |
4.45%, 9/29/2027 | 87,000 | 83,308 |
(SOFR + 1.89%), 4.66%, 5/24/2028 (b) | 100,000 | 97,692 |
(SOFR + 1.42%), 2.98%, 11/5/2030 (b) | 234,000 | 202,229 |
(SOFR + 1.15%), 2.67%, 1/29/2031 (b) | 137,000 | 114,900 |
(SOFR + 3.91%), 4.41%, 3/31/2031 (b) | 179,000 | 166,018 |
6.63%, 6/15/2032 | 83,000 | 87,494 |
6.00%, 10/31/2033 | 6,000 | 6,099 |
4.75%, 5/18/2046 | 47,000 | 39,267 |
Citizens Financial Group, Inc. | ||
2.85%, 7/27/2026 | 105,000 | 95,749 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.75%), 5.64%, 5/21/2037 (b) | 23,000 | 19,659 |
Comerica, Inc. 4.00%, 2/1/2029 | 99,000 | 87,617 |
Cooperatieve Rabobank UA (Netherlands) 5.25%, 5/24/2041 | 150,000 | 148,786 |
Fifth Third Bancorp | ||
(SOFRINDX + 2.19%), 6.36%, 10/27/2028 (b) | 116,000 | 116,739 |
8.25%, 3/1/2038 | 35,000 | 38,959 |
FNB Corp. 5.15%, 8/25/2025 | 110,000 | 106,969 |
HSBC Holdings plc (United Kingdom) | ||
(SOFR + 1.51%), 4.18%, 12/9/2025 (b) | 253,000 | 247,876 |
(SOFR + 1.29%), 2.21%, 8/17/2029 (b) | 200,000 | 169,850 |
(SOFR + 2.87%), 5.40%, 8/11/2033 (b) | 471,000 | 452,839 |
6.80%, 6/1/2038 | 109,000 | 109,540 |
6.10%, 1/14/2042 | 114,000 | 121,113 |
Huntington Bancshares, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.17%), 2.49%, 8/15/2036 (b) | 96,000 | 69,525 |
KeyCorp (SOFRINDX + 2.06%), 4.79%, 6/1/2033 (b) | 88,000 | 76,061 |
Lloyds Banking Group plc (United Kingdom) 4.55%, 8/16/2028 | 200,000 | 190,975 |
M&T Bank Corp. (SOFR + 1.85%), 5.05%, 1/27/2034 (b) | 48,000 | 42,913 |
Mitsubishi UFJ Financial Group, Inc. (Japan) | ||
3.96%, 3/2/2028 | 50,000 | 47,623 |
4.05%, 9/11/2028 | 5,000 | 4,744 |
3.74%, 3/7/2029 | 215,000 | 200,291 |
4.15%, 3/7/2039 | 5,000 | 4,276 |
Mizuho Financial Group, Inc. (Japan) 4.02%, 3/5/2028 | 200,000 | 189,736 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Banks — continued | ||
PNC Financial Services Group, Inc. (The) | ||
2.60%, 7/23/2026 | 24,000 | 22,410 |
3.45%, 4/23/2029 | 402,000 | 366,139 |
(SOFRINDX + 1.85%), 4.63%, 6/6/2033 (b) | 24,000 | 21,405 |
(SOFR + 1.95%), 5.94%, 8/18/2034 (b) | 12,000 | 11,939 |
Regions Financial Corp. | ||
2.25%, 5/18/2025 | 66,000 | 62,058 |
7.38%, 12/10/2037 | 25,000 | 26,661 |
Royal Bank of Canada (Canada) | ||
3.38%, 4/14/2025 | 201,000 | 195,469 |
2.30%, 11/3/2031 | 24,000 | 19,275 |
5.00%, 2/1/2033 | 128,000 | 123,334 |
Santander Holdings USA, Inc. | ||
3.24%, 10/5/2026 | 10,000 | 9,233 |
4.40%, 7/13/2027 | 184,000 | 175,195 |
Sumitomo Mitsui Financial Group, Inc. (Japan) | ||
3.78%, 3/9/2026 | 47,000 | 45,320 |
3.35%, 10/18/2027 | 69,000 | 64,133 |
3.94%, 7/19/2028 | 5,000 | 4,706 |
4.31%, 10/16/2028 | 12,000 | 11,417 |
3.20%, 9/17/2029 (c) | 120,000 | 105,952 |
2.14%, 9/23/2030 (c) | 39,000 | 31,165 |
Toronto-Dominion Bank (The) (Canada) | ||
3.77%, 6/6/2025 | 263,000 | 256,397 |
1.15%, 6/12/2025 | 18,000 | 16,876 |
2.45%, 1/12/2032 | 66,000 | 52,869 |
3.20%, 3/10/2032 | 88,000 | 74,238 |
Truist Financial Corp. | ||
3.70%, 6/5/2025 | 103,000 | 100,032 |
1.20%, 8/5/2025 | 183,000 | 169,742 |
(SOFR + 1.46%), 4.26%, 7/28/2026 (b) | 134,000 | 129,595 |
3.88%, 3/19/2029 | 99,000 | 90,050 |
US Bancorp | ||
3.90%, 4/26/2028 | 112,000 | 105,762 |
3.00%, 7/30/2029 | 67,000 | 58,048 |
(SOFR + 2.11%), 4.97%, 7/22/2033 (b) | 126,000 | 112,822 |
(SOFR + 1.60%), 4.84%, 2/1/2034 (b) | 21,000 | 19,218 |
Wells Fargo & Co. | ||
3.00%, 2/19/2025 | 1,000 | 970 |
(SOFR + 1.56%), 4.54%, 8/15/2026 (b) | 13,000 | 12,748 |
(3-MONTH CME TERM SOFR + 1.57%), 3.58%, 5/22/2028 (b) | 209,000 | 195,658 |
(SOFR + 2.10%), 2.39%, 6/2/2028 (b) | 150,000 | 134,830 |
(SOFR + 1.98%), 4.81%, 7/25/2028 (b) | 65,000 | 63,384 |
(SOFR + 1.74%), 5.57%, 7/25/2029 (b) | 30,000 | 29,971 |
(3-MONTH CME TERM SOFR + 1.43%), 2.88%, 10/30/2030 (b) | 324,000 | 278,766 |
(SOFR + 2.02%), 5.39%, 4/24/2034 (b) | 32,000 | 30,792 |
(SOFR + 1.99%), 5.56%, 7/25/2034 (b) | 108,000 | 105,085 |
(SOFR + 2.06%), 6.49%, 10/23/2034 (b) | 115,000 | 120,251 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Banks — continued | ||
5.38%, 2/7/2035 | 99,000 | 97,612 |
5.95%, 12/15/2036 | 100,000 | 96,229 |
(SOFR + 2.53%), 3.07%, 4/30/2041 (b) | 128,000 | 91,665 |
5.38%, 11/2/2043 | 129,000 | 117,006 |
5.61%, 1/15/2044 | 110,000 | 102,335 |
4.75%, 12/7/2046 | 54,000 | 44,248 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (b) | 12,000 | 10,053 |
Westpac Banking Corp. (Australia) | ||
3.74%, 8/26/2025 | 81,000 | 79,022 |
(USD SOFR Spread-Adjusted ICE Swap Rate 5 Year + 2.24%), 4.32%, 11/23/2031 (b) (c) | 145,000 | 136,956 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 4.11%, 7/24/2034 (b) (c) | 27,000 | 23,888 |
4.42%, 7/24/2039 (c) | 115,000 | 91,940 |
12,331,565 | ||
Beverages — 1.7% | ||
Anheuser-Busch Cos. LLC (Belgium) | ||
3.65%, 2/1/2026 | 67,000 | 65,261 |
4.70%, 2/1/2036 | 78,000 | 74,338 |
4.90%, 2/1/2046 | 149,000 | 137,877 |
Anheuser-Busch InBev Finance, Inc. (Belgium) | ||
4.70%, 2/1/2036 | 61,000 | 58,040 |
4.90%, 2/1/2046 | 50,000 | 46,117 |
Anheuser-Busch InBev Worldwide, Inc. (Belgium) | ||
4.90%, 1/23/2031 | 16,000 | 16,156 |
4.60%, 4/15/2048 | 19,000 | 16,963 |
4.75%, 4/15/2058 | 53,000 | 47,128 |
5.80%, 1/23/2059 | 55,000 | 57,481 |
Brown-Forman Corp. 4.00%, 4/15/2038 | 90,000 | 76,738 |
Coca-Cola Co. (The) | ||
1.45%, 6/1/2027 | 10,000 | 8,978 |
1.65%, 6/1/2030 | 66,000 | 54,848 |
2.60%, 6/1/2050 | 55,000 | 35,454 |
2.75%, 6/1/2060 | 16,000 | 10,217 |
Constellation Brands, Inc. | ||
5.00%, 2/2/2026 | 87,000 | 86,759 |
3.15%, 8/1/2029 | 66,000 | 59,318 |
Diageo Capital plc (United Kingdom) 5.88%, 9/30/2036 | 37,000 | 38,889 |
Keurig Dr Pepper, Inc. | ||
3.80%, 5/1/2050 | 20,000 | 14,856 |
3.35%, 3/15/2051 | 90,000 | 60,984 |
Molson Coors Beverage Co. 4.20%, 7/15/2046 | 46,000 | 36,488 |
PepsiCo, Inc. | ||
4.55%, 2/13/2026 | 2,000 | 1,991 |
2.75%, 3/19/2030 | 18,000 | 16,079 |
2.63%, 10/21/2041 | 64,000 | 45,260 |
4.00%, 3/5/2042 | 117,000 | 98,480 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Beverages — continued | ||
4.25%, 10/22/2044 | 132,000 | 112,677 |
2.75%, 10/21/2051 | 77,000 | 50,472 |
1,327,849 | ||
Biotechnology — 2.0% | ||
AbbVie, Inc. | ||
3.60%, 5/14/2025 | 47,000 | 45,880 |
2.95%, 11/21/2026 | 341,000 | 322,937 |
4.30%, 5/14/2036 | 86,000 | 78,957 |
4.05%, 11/21/2039 | 147,000 | 126,333 |
4.70%, 5/14/2045 | 93,000 | 83,957 |
Amgen, Inc. | ||
2.45%, 2/21/2030 | 113,000 | 97,100 |
5.25%, 3/2/2033 | 98,000 | 97,029 |
3.15%, 2/21/2040 | 75,000 | 55,346 |
2.80%, 8/15/2041 | 152,000 | 104,575 |
5.65%, 6/15/2042 | 41,000 | 39,996 |
5.60%, 3/2/2043 | 10,000 | 9,787 |
4.40%, 5/1/2045 | 20,000 | 16,597 |
4.40%, 2/22/2062 | 74,000 | 58,206 |
Biogen, Inc. 3.15%, 5/1/2050 | 125,000 | 80,659 |
Gilead Sciences, Inc. | ||
3.65%, 3/1/2026 | 247,000 | 239,043 |
4.15%, 3/1/2047 | 89,000 | 72,999 |
1,529,401 | ||
Broadline Retail — 1.1% | ||
Alibaba Group Holding Ltd. (China) 2.13%, 2/9/2031 | 200,000 | 160,442 |
Amazon.com, Inc. | ||
0.80%, 6/3/2025 | 122,000 | 114,767 |
1.00%, 5/12/2026 | 136,000 | 124,133 |
1.20%, 6/3/2027 | 57,000 | 50,584 |
1.50%, 6/3/2030 | 14,000 | 11,498 |
3.60%, 4/13/2032 | 8,000 | 7,360 |
4.80%, 12/5/2034 | 95,000 | 95,714 |
3.88%, 8/22/2037 | 150,000 | 133,768 |
2.70%, 6/3/2060 | 8,000 | 4,879 |
4.10%, 4/13/2062 | 51,000 | 41,677 |
eBay, Inc. | ||
4.00%, 7/15/2042 | 59,000 | 46,011 |
3.65%, 5/10/2051 | 87,000 | 61,258 |
852,091 | ||
Building Products — 0.2% | ||
Carlisle Cos., Inc. 2.75%, 3/1/2030 | 10,000 | 8,455 |
Carrier Global Corp. 3.58%, 4/5/2050 | 15,000 | 10,691 |
Masco Corp. 2.00%, 10/1/2030 | 125,000 | 98,729 |
117,875 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Capital Markets — 7.7% | ||
Ares Capital Corp. 2.88%, 6/15/2028 | 25,000 | 21,337 |
Bank of New York Mellon Corp. (The) | ||
1.60%, 4/24/2025 | 197,000 | 187,126 |
2.45%, 8/17/2026 | 5,000 | 4,658 |
3.30%, 8/23/2029 | 81,000 | 72,795 |
(SOFR + 1.76%), 4.60%, 7/26/2030 (b) | 1,000 | 961 |
1.80%, 7/28/2031 | 52,000 | 40,578 |
2.50%, 1/26/2032 | 54,000 | 44,140 |
(SOFR + 1.51%), 4.71%, 2/1/2034 (b) | 16,000 | 14,995 |
BlackRock, Inc. 1.90%, 1/28/2031 | 205,000 | 166,626 |
Blue Owl Capital Corp. 2.63%, 1/15/2027 | 46,000 | 40,480 |
Blue Owl Capital Corp. III 3.13%, 4/13/2027 | 67,000 | 58,083 |
Brookfield Corp. (Canada) 4.00%, 1/15/2025 | 4,000 | 3,924 |
Brookfield Finance, Inc. (Canada) 4.85%, 3/29/2029 | 120,000 | 115,722 |
Charles Schwab Corp. (The) (SOFR + 2.50%), 5.85%, 5/19/2034 (b) | 45,000 | 44,416 |
CI Financial Corp. (Canada) 4.10%, 6/15/2051 | 28,000 | 15,570 |
CME Group, Inc. 4.15%, 6/15/2048 | 44,000 | 37,516 |
Credit Suisse USA, Inc. (Switzerland) 7.13%, 7/15/2032 | 50,000 | 54,712 |
Deutsche Bank AG (Germany) (SOFR + 1.87%), 2.13%, 11/24/2026 (b) | 151,000 | 138,509 |
FS KKR Capital Corp. 3.25%, 7/15/2027 | 60,000 | 52,960 |
Goldman Sachs Group, Inc. (The) | ||
3.50%, 4/1/2025 | 261,000 | 253,431 |
Series VAR, (SOFR + 0.79%), 1.09%, 12/9/2026 (b) | 32,000 | 29,078 |
(SOFR + 1.51%), 4.39%, 6/15/2027 (b) | 49,000 | 47,473 |
(SOFR + 0.82%), 1.54%, 9/10/2027 (b) | 100,000 | 89,134 |
(SOFR + 1.85%), 3.62%, 3/15/2028 (b) | 178,000 | 167,495 |
(3-MONTH CME TERM SOFR + 1.56%), 4.22%, 5/1/2029 (b) | 210,000 | 198,339 |
3.80%, 3/15/2030 | 363,000 | 329,038 |
(SOFR + 1.25%), 2.38%, 7/21/2032 (b) | 42,000 | 33,092 |
6.13%, 2/15/2033 | 41,000 | 43,171 |
(3-MONTH CME TERM SOFR + 1.63%), 4.02%, 10/31/2038 (b) | 27,000 | 22,344 |
(SOFR + 1.47%), 2.91%, 7/21/2042 (b) | 211,000 | 144,747 |
Hercules Capital, Inc. 3.38%, 1/20/2027 | 47,000 | 41,808 |
Intercontinental Exchange, Inc. | ||
3.65%, 5/23/2025 | 132,000 | 128,696 |
3.75%, 12/1/2025 | 43,000 | 41,859 |
2.65%, 9/15/2040 | 30,000 | 20,895 |
4.25%, 9/21/2048 | 73,000 | 60,577 |
5.20%, 6/15/2062 | 63,000 | 59,142 |
Lazard Group LLC 3.63%, 3/1/2027 | 9,000 | 8,320 |
Moody's Corp. | ||
2.75%, 8/19/2041 | 81,000 | 54,938 |
3.75%, 2/25/2052 | 91,000 | 68,256 |
3.10%, 11/29/2061 | 11,000 | 6,746 |
Morgan Stanley | ||
4.00%, 7/23/2025 | 199,000 | 194,559 |
(SOFR + 1.77%), 6.14%, 10/16/2026 (b) | 98,000 | 98,782 |
(SOFR + 0.72%), 0.99%, 12/10/2026 (b) | 236,000 | 213,784 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Capital Markets — continued | ||
3.63%, 1/20/2027 | 128,000 | 122,252 |
3.95%, 4/23/2027 | 128,000 | 121,504 |
(SOFR + 0.88%), 1.59%, 5/4/2027 (b) | 90,000 | 81,581 |
(SOFR + 1.61%), 4.21%, 4/20/2028 (b) | 10,000 | 9,604 |
(3-MONTH CME TERM SOFR + 1.40%), 3.77%, 1/24/2029 (b) | 254,000 | 236,978 |
(SOFR + 3.12%), 3.62%, 4/1/2031 (b) | 61,000 | 54,161 |
(SOFR + 1.03%), 1.79%, 2/13/2032 (b) | 81,000 | 62,085 |
7.25%, 4/1/2032 | 82,000 | 93,419 |
(SOFR + 1.29%), 2.94%, 1/21/2033 (b) | 41,000 | 33,454 |
(SOFR + 1.36%), 2.48%, 9/16/2036 (b) | 81,000 | 61,146 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.95%, 1/19/2038 (b) | 45,000 | 43,660 |
3.97%, 7/22/2038 (d) | 352,000 | 293,574 |
Nasdaq, Inc. | ||
1.65%, 1/15/2031 | 111,000 | 87,156 |
3.25%, 4/28/2050 | 90,000 | 58,863 |
Nomura Holdings, Inc. (Japan) 2.33%, 1/22/2027 | 200,000 | 180,144 |
Northern Trust Corp. | ||
3.15%, 5/3/2029 | 110,000 | 100,004 |
(3-MONTH SOFR + 1.13%), 3.38%, 5/8/2032 (b) | 46,000 | 41,861 |
6.13%, 11/2/2032 | 57,000 | 58,727 |
Prospect Capital Corp. | ||
3.36%, 11/15/2026 | 14,000 | 12,260 |
3.44%, 10/15/2028 | 31,000 | 25,059 |
S&P Global, Inc. | ||
2.90%, 3/1/2032 | 102,000 | 86,886 |
3.70%, 3/1/2052 | 68,000 | 52,022 |
2.30%, 8/15/2060 | 109,000 | 58,600 |
State Street Corp. | ||
(SOFR + 0.56%), 1.68%, 11/18/2027 (b) | 87,000 | 78,586 |
2.20%, 3/3/2031 | 24,000 | 19,157 |
(SOFR + 1.00%), 2.62%, 2/7/2033 (b) | 150,000 | 121,435 |
(SOFR + 1.49%), 3.03%, 11/1/2034 (b) | 46,000 | 39,794 |
UBS AG (Switzerland) 5.80%, 9/11/2025 | 215,000 | 215,843 |
5,920,627 | ||
Chemicals — 1.6% | ||
Albemarle Corp. | ||
4.65%, 6/1/2027 | 100,000 | 96,291 |
5.05%, 6/1/2032 | 19,000 | 17,598 |
Cabot Corp. 4.00%, 7/1/2029 | 122,000 | 112,703 |
Celanese US Holdings LLC | ||
6.05%, 3/15/2025 | 65,000 | 65,122 |
6.33%, 7/15/2029 | 33,000 | 33,649 |
Dow Chemical Co. (The) 6.90%, 5/15/2053 | 27,000 | 30,193 |
DuPont de Nemours, Inc. 5.42%, 11/15/2048 | 49,000 | 47,757 |
Eastman Chemical Co. 4.65%, 10/15/2044 | 65,000 | 52,803 |
Ecolab, Inc. 2.70%, 11/1/2026 | 49,000 | 46,321 |
EIDP, Inc. 1.70%, 7/15/2025 | 13,000 | 12,216 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Chemicals — continued | ||
FMC Corp. 4.50%, 10/1/2049 | 35,000 | 25,374 |
International Flavors & Fragrances, Inc. | ||
4.45%, 9/26/2028 | 90,000 | 85,818 |
4.38%, 6/1/2047 | 5,000 | 3,601 |
Lubrizol Corp. (The) 6.50%, 10/1/2034 | 42,000 | 48,156 |
LYB International Finance III LLC | ||
1.25%, 10/1/2025 | 73,000 | 67,497 |
3.80%, 10/1/2060 | 11,000 | 7,124 |
Nutrien Ltd. (Canada) | ||
4.13%, 3/15/2035 | 14,000 | 12,098 |
5.88%, 12/1/2036 | 51,000 | 50,661 |
RPM International, Inc. 3.75%, 3/15/2027 | 48,000 | 45,608 |
Sherwin-Williams Co. (The) | ||
3.45%, 6/1/2027 | 2,000 | 1,895 |
2.95%, 8/15/2029 | 255,000 | 228,043 |
2.20%, 3/15/2032 | 32,000 | 25,402 |
Westlake Corp. 3.38%, 8/15/2061 | 136,000 | 79,951 |
1,195,881 | ||
Commercial Services & Supplies — 0.4% | ||
Cintas Corp. No. 2 4.00%, 5/1/2032 | 5,000 | 4,639 |
Nature Conservancy (The) Series A, 3.96%, 3/1/2052 | 28,000 | 22,487 |
RELX Capital, Inc. (United Kingdom) 4.00%, 3/18/2029 | 90,000 | 85,907 |
Republic Services, Inc. | ||
6.20%, 3/1/2040 | 53,000 | 55,905 |
3.05%, 3/1/2050 | 48,000 | 32,456 |
Rockefeller Foundation (The) Series 2020, 2.49%, 10/1/2050 | 86,000 | 52,114 |
Veralto Corp. 5.50%, 9/18/2026 (e) | 4,000 | 4,013 |
Waste Connections, Inc. 3.05%, 4/1/2050 | 60,000 | 39,903 |
297,424 | ||
Communications Equipment — 0.5% | ||
Cisco Systems, Inc. | ||
2.50%, 9/20/2026 | 106,000 | 99,946 |
5.90%, 2/15/2039 | 91,000 | 96,929 |
Juniper Networks, Inc. 1.20%, 12/10/2025 | 22,000 | 20,157 |
Nokia OYJ (Finland) | ||
4.38%, 6/12/2027 | 131,000 | 123,959 |
6.63%, 5/15/2039 | 15,000 | 14,092 |
355,083 | ||
Construction & Engineering — 0.1% | ||
Quanta Services, Inc. | ||
2.90%, 10/1/2030 | 50,000 | 42,118 |
2.35%, 1/15/2032 | 73,000 | 57,226 |
99,344 | ||
Construction Materials — 0.0% ^ | ||
Martin Marietta Materials, Inc. 3.20%, 7/15/2051 | 36,000 | 24,177 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Consumer Finance — 2.7% | ||
AerCap Ireland Capital DAC (Ireland) 1.75%, 1/30/2026 | 150,000 | 137,215 |
Ally Financial, Inc. 4.75%, 6/9/2027 | 90,000 | 85,146 |
American Express Co. | ||
4.20%, 11/6/2025 | 70,000 | 68,623 |
4.90%, 2/13/2026 | 2,000 | 1,987 |
1.65%, 11/4/2026 | 11,000 | 9,971 |
2.55%, 3/4/2027 | 4,000 | 3,681 |
American Honda Finance Corp. | ||
1.00%, 9/10/2025 | 63,000 | 58,580 |
5.80%, 10/3/2025 | 90,000 | 90,896 |
Capital One Financial Corp. | ||
4.20%, 10/29/2025 | 56,000 | 53,869 |
3.75%, 7/28/2026 | 219,000 | 205,754 |
3.80%, 1/31/2028 | 28,000 | 25,785 |
(SOFR + 1.79%), 3.27%, 3/1/2030 (b) | 65,000 | 55,879 |
(SOFR + 2.60%), 5.25%, 7/26/2030 (b) | 90,000 | 84,733 |
Caterpillar Financial Services Corp. | ||
3.40%, 5/13/2025 | 20,000 | 19,524 |
1.45%, 5/15/2025 | 23,000 | 21,816 |
1.10%, 9/14/2027 | 5,000 | 4,373 |
Discover Financial Services | ||
3.75%, 3/4/2025 | 5,000 | 4,843 |
(SOFRINDX + 3.37%), 7.96%, 11/2/2034 (b) | 62,000 | 65,153 |
Ford Motor Credit Co. LLC 4.54%, 8/1/2026 | 229,000 | 217,834 |
General Motors Financial Co., Inc. | ||
1.50%, 6/10/2026 | 197,000 | 177,570 |
3.60%, 6/21/2030 | 202,000 | 176,762 |
John Deere Capital Corp. | ||
3.40%, 9/11/2025 | 37,000 | 35,987 |
0.70%, 1/15/2026 | 21,000 | 19,253 |
1.30%, 10/13/2026 | 16,000 | 14,499 |
4.95%, 7/14/2028 | 46,000 | 46,105 |
3.45%, 3/7/2029 | 15,000 | 14,006 |
Synchrony Financial | ||
4.88%, 6/13/2025 | 19,000 | 18,370 |
4.50%, 7/23/2025 | 20,000 | 19,244 |
3.95%, 12/1/2027 | 91,000 | 81,749 |
5.15%, 3/19/2029 | 14,000 | 12,964 |
Toyota Motor Credit Corp. | ||
3.40%, 4/14/2025 | 13,000 | 12,682 |
3.65%, 8/18/2025 | 198,000 | 193,053 |
1.65%, 1/10/2031 | 81,000 | 64,520 |
4.70%, 1/12/2033 | 6,000 | 5,868 |
2,108,294 | ||
Consumer Staples Distribution & Retail — 0.9% | ||
Costco Wholesale Corp. | ||
1.38%, 6/20/2027 | 134,000 | 119,241 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Consumer Staples Distribution & Retail — continued | ||
1.75%, 4/20/2032 | 5,000 | 3,989 |
Dollar General Corp. 5.50%, 11/1/2052 | 30,000 | 26,784 |
Dollar Tree, Inc. 3.38%, 12/1/2051 | 25,000 | 15,886 |
Kroger Co. (The) | ||
5.00%, 4/15/2042 | 11,000 | 9,606 |
5.40%, 1/15/2049 | 44,000 | 41,199 |
Sysco Corp. | ||
6.60%, 4/1/2050 | 38,000 | 41,635 |
3.15%, 12/14/2051 | 86,000 | 56,201 |
Target Corp. 3.38%, 4/15/2029 | 196,000 | 184,162 |
Walmart, Inc. | ||
4.00%, 4/15/2026 | 20,000 | 19,696 |
7.55%, 2/15/2030 | 12,000 | 13,929 |
1.80%, 9/22/2031 | 9,000 | 7,360 |
5.25%, 9/1/2035 | 5,000 | 5,235 |
2.50%, 9/22/2041 | 132,000 | 91,828 |
4.05%, 6/29/2048 | 47,000 | 40,295 |
677,046 | ||
Containers & Packaging — 0.1% | ||
Sonoco Products Co. | ||
1.80%, 2/1/2025 | 12,000 | 11,486 |
5.75%, 11/1/2040 | 29,000 | 27,779 |
WRKCo, Inc. 4.90%, 3/15/2029 | 10,000 | 9,798 |
49,063 | ||
Diversified Consumer Services — 0.3% | ||
Duke University | ||
Series 2020, 2.68%, 10/1/2044 | 96,000 | 66,879 |
Series 2020, 2.83%, 10/1/2055 | 8,000 | 5,013 |
Georgetown University (The) Series A, 5.22%, 10/1/2118 | 5,000 | 4,325 |
Johns Hopkins University Series 2013, 4.08%, 7/1/2053 | 11,000 | 8,899 |
Northwestern University Series 2020, 2.64%, 12/1/2050 | 23,000 | 14,434 |
President and Fellows of Harvard College 3.30%, 7/15/2056 | 48,000 | 33,833 |
Trustees of Princeton University (The) Series 2020, 2.52%, 7/1/2050 | 91,000 | 57,788 |
University of Southern California | ||
3.03%, 10/1/2039 | 44,000 | 33,995 |
2.81%, 10/1/2050 | 1,000 | 640 |
William Marsh Rice University 3.57%, 5/15/2045 | 20,000 | 15,548 |
241,354 | ||
Diversified REITs — 1.1% | ||
American Assets Trust LP 3.38%, 2/1/2031 | 24,000 | 18,378 |
GLP Capital LP | ||
5.25%, 6/1/2025 | 92,000 | 90,462 |
5.75%, 6/1/2028 | 27,000 | 26,641 |
3.25%, 1/15/2032 | 102,000 | 81,988 |
Simon Property Group LP | ||
3.50%, 9/1/2025 | 42,000 | 40,553 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Diversified REITs — continued | ||
3.38%, 12/1/2027 | 2,000 | 1,862 |
2.45%, 9/13/2029 | 78,000 | 66,740 |
2.20%, 2/1/2031 | 152,000 | 121,619 |
4.75%, 3/15/2042 | 40,000 | 33,731 |
STORE Capital Corp. | ||
4.50%, 3/15/2028 | 37,000 | 32,976 |
2.75%, 11/18/2030 | 10,000 | 7,369 |
VICI Properties LP | ||
4.38%, 5/15/2025 | 148,000 | 144,172 |
4.75%, 2/15/2028 | 33,000 | 31,294 |
4.95%, 2/15/2030 | 64,000 | 59,509 |
5.63%, 5/15/2052 | 15,000 | 12,923 |
Vornado Realty LP | ||
2.15%, 6/1/2026 | 47,000 | 40,721 |
3.40%, 6/1/2031 | 5,000 | 3,607 |
814,545 | ||
Diversified Telecommunication Services — 2.3% | ||
AT&T, Inc. | ||
3.80%, 2/15/2027 | 245,000 | 235,749 |
1.65%, 2/1/2028 | 121,000 | 105,417 |
2.55%, 12/1/2033 | 149,000 | 115,954 |
6.38%, 3/1/2041 | 12,000 | 12,421 |
4.65%, 6/1/2044 | 82,000 | 68,167 |
4.50%, 3/9/2048 | 90,000 | 73,203 |
3.50%, 9/15/2053 | 109,000 | 72,620 |
3.55%, 9/15/2055 | 193,000 | 127,443 |
3.65%, 9/15/2059 | 30,000 | 19,793 |
3.50%, 2/1/2061 | 96,000 | 61,388 |
Bell Canada (The) (Canada) Series US-5, 2.15%, 2/15/2032 | 6,000 | 4,764 |
Deutsche Telekom International Finance BV (Germany) 9.25%, 6/1/2032 | 10,000 | 12,602 |
Orange SA (France) 5.38%, 1/13/2042 | 5,000 | 4,728 |
Telefonica Emisiones SA (Spain) 7.05%, 6/20/2036 | 84,000 | 91,172 |
Verizon Communications, Inc. | ||
3.38%, 2/15/2025 | 192,000 | 187,525 |
2.10%, 3/22/2028 | 29,000 | 25,693 |
4.02%, 12/3/2029 | 10,000 | 9,382 |
1.50%, 9/18/2030 | 185,000 | 147,411 |
3.40%, 3/22/2041 | 282,000 | 213,205 |
2.85%, 9/3/2041 | 50,000 | 34,732 |
4.75%, 11/1/2041 | 85,000 | 78,553 |
2.99%, 10/30/2056 | 63,000 | 38,653 |
3.70%, 3/22/2061 | 23,000 | 16,265 |
1,756,840 | ||
Electric Utilities — 6.0% | ||
AEP Texas, Inc. 3.45%, 5/15/2051 | 35,000 | 23,351 |
AEP Transmission Co. LLC | ||
4.25%, 9/15/2048 | 141,000 | 112,991 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
Series M, 3.65%, 4/1/2050 | 128,000 | 92,554 |
Series N, 2.75%, 8/15/2051 | 110,000 | 65,792 |
Alabama Power Co. | ||
3.94%, 9/1/2032 | 147,000 | 133,286 |
4.30%, 1/2/2046 | 10,000 | 8,076 |
Series A, 4.30%, 7/15/2048 | 133,000 | 106,391 |
American Electric Power Co., Inc. | ||
Series N, 1.00%, 11/1/2025 | 78,000 | 71,553 |
2.30%, 3/1/2030 | 19,000 | 15,721 |
Arizona Public Service Co. 2.65%, 9/15/2050 | 50,000 | 28,129 |
Baltimore Gas and Electric Co. 3.20%, 9/15/2049 | 183,000 | 122,597 |
Commonwealth Edison Co. | ||
4.00%, 3/1/2049 | 5,000 | 3,903 |
3.00%, 3/1/2050 | 62,000 | 39,893 |
Connecticut Light and Power Co. (The) Series A, 4.15%, 6/1/2045 | 83,000 | 67,387 |
Dominion Energy South Carolina, Inc. Series A, 2.30%, 12/1/2031 | 43,000 | 34,516 |
Duke Energy Carolinas LLC 3.70%, 12/1/2047 | 36,000 | 26,351 |
Duke Energy Corp. | ||
2.65%, 9/1/2026 | 100,000 | 93,104 |
3.75%, 9/1/2046 | 194,000 | 140,612 |
3.95%, 8/15/2047 | 37,000 | 27,403 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.32%), 3.25%, 1/15/2082 (b) | 56,000 | 41,997 |
Duke Energy Indiana LLC | ||
Series YYY, 3.25%, 10/1/2049 | 20,000 | 13,314 |
2.75%, 4/1/2050 | 22,000 | 13,160 |
Duke Energy Ohio, Inc. 4.30%, 2/1/2049 | 18,000 | 14,178 |
Emera US Finance LP (Canada) 4.75%, 6/15/2046 | 10,000 | 7,689 |
Entergy Arkansas LLC 2.65%, 6/15/2051 | 95,000 | 54,649 |
Entergy Corp. 0.90%, 9/15/2025 | 136,000 | 125,066 |
Entergy Louisiana LLC | ||
4.00%, 3/15/2033 | 141,000 | 126,075 |
3.10%, 6/15/2041 | 6,000 | 4,234 |
Evergy, Inc. 2.90%, 9/15/2029 | 88,000 | 76,846 |
Eversource Energy | ||
4.75%, 5/15/2026 | 77,000 | 75,666 |
Series R, 1.65%, 8/15/2030 | 108,000 | 84,747 |
5.13%, 5/15/2033 | 49,000 | 47,316 |
Exelon Corp. | ||
3.95%, 6/15/2025 | 20,000 | 19,511 |
2.75%, 3/15/2027 | 81,000 | 75,213 |
4.95%, 6/15/2035 | 6,000 | 5,532 |
Florida Power & Light Co. | ||
2.85%, 4/1/2025 | 76,000 | 73,667 |
Series A, 3.30%, 5/30/2027 | 10,000 | 9,418 |
5.63%, 4/1/2034 | 10,000 | 10,298 |
5.69%, 3/1/2040 | 64,000 | 65,119 |
4.13%, 2/1/2042 | 1,000 | 845 |
3.95%, 3/1/2048 | 40,000 | 31,768 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
Fortis, Inc. (Canada) 3.06%, 10/4/2026 | 119,000 | 111,282 |
Georgia Power Co. Series B, 3.70%, 1/30/2050 | 39,000 | 28,406 |
Idaho Power Co. 5.50%, 3/15/2053 | 41,000 | 39,176 |
MidAmerican Energy Co. 4.25%, 5/1/2046 | 126,000 | 102,908 |
Mississippi Power Co. Series 12-A, 4.25%, 3/15/2042 | 1,000 | 801 |
NextEra Energy Capital Holdings, Inc. | ||
4.45%, 6/20/2025 | 2,000 | 1,968 |
1.90%, 6/15/2028 | 217,000 | 187,628 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.55%), 3.80%, 3/15/2082 (b) | 23,000 | 19,140 |
Northern States Power Co. 3.60%, 5/15/2046 | 26,000 | 19,045 |
NSTAR Electric Co. 1.95%, 8/15/2031 | 91,000 | 71,886 |
Oklahoma Gas and Electric Co. 4.15%, 4/1/2047 | 73,000 | 56,470 |
Oncor Electric Delivery Co. LLC | ||
3.80%, 9/30/2047 | 50,000 | 37,435 |
4.10%, 11/15/2048 | 26,000 | 20,580 |
Pacific Gas and Electric Co. | ||
3.00%, 6/15/2028 | 75,000 | 66,279 |
2.50%, 2/1/2031 | 10,000 | 7,969 |
3.25%, 6/1/2031 | 127,000 | 105,470 |
4.50%, 7/1/2040 | 47,000 | 37,269 |
3.30%, 8/1/2040 | 54,000 | 36,920 |
4.25%, 3/15/2046 | 110,000 | 78,047 |
4.95%, 7/1/2050 | 3,000 | 2,390 |
6.75%, 1/15/2053 | 5,000 | 5,059 |
PacifiCorp | ||
3.50%, 6/15/2029 | 144,000 | 130,135 |
7.70%, 11/15/2031 | 29,000 | 32,730 |
5.75%, 4/1/2037 | 23,000 | 22,007 |
6.00%, 1/15/2039 | 11,000 | 10,723 |
2.90%, 6/15/2052 | 5,000 | 2,824 |
PECO Energy Co. 3.05%, 3/15/2051 | 70,000 | 45,383 |
Pinnacle West Capital Corp. 1.30%, 6/15/2025 | 116,000 | 108,110 |
PPL Electric Utilities Corp. | ||
5.00%, 5/15/2033 | 48,000 | 47,039 |
3.00%, 10/1/2049 | 89,000 | 58,566 |
Public Service Co. of Colorado | ||
Series 17, 6.25%, 9/1/2037 | 16,000 | 16,556 |
3.60%, 9/15/2042 | 98,000 | 73,012 |
4.05%, 9/15/2049 | 19,000 | 14,386 |
Public Service Electric and Gas Co. | ||
3.10%, 3/15/2032 | 45,000 | 38,826 |
3.60%, 12/1/2047 | 100,000 | 74,352 |
3.15%, 1/1/2050 | 113,000 | 76,733 |
2.05%, 8/1/2050 | 62,000 | 33,298 |
Southern California Edison Co. | ||
Series E, 3.70%, 8/1/2025 | 55,000 | 53,310 |
Series D, 4.70%, 6/1/2027 | 27,000 | 26,569 |
Series 13-A, 3.90%, 3/15/2043 | 6,000 | 4,556 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
Series C, 3.60%, 2/1/2045 | 22,000 | 15,620 |
4.00%, 4/1/2047 | 174,000 | 132,877 |
Southern Co. (The) | ||
5.15%, 10/6/2025 | 96,000 | 95,514 |
4.25%, 7/1/2036 | 38,000 | 33,427 |
System Energy Resources, Inc. 6.00%, 4/15/2028 | 11,000 | 10,955 |
Tampa Electric Co. | ||
2.40%, 3/15/2031 | 15,000 | 12,152 |
4.10%, 6/15/2042 | 92,000 | 73,265 |
Union Electric Co. 5.45%, 3/15/2053 | 5,000 | 4,810 |
Virginia Electric and Power Co. | ||
Series A, 3.15%, 1/15/2026 | 17,000 | 16,317 |
Series A, 3.50%, 3/15/2027 | 43,000 | 40,865 |
Series C, 4.00%, 11/15/2046 | 20,000 | 15,236 |
4.60%, 12/1/2048 | 112,000 | 93,161 |
4,639,360 | ||
Electrical Equipment — 0.4% | ||
Emerson Electric Co. 2.20%, 12/21/2031 | 258,000 | 211,383 |
Regal Rexnord Corp. 6.05%, 4/15/2028 (e) | 50,000 | 49,203 |
Rockwell Automation, Inc. 2.80%, 8/15/2061 | 125,000 | 73,847 |
334,433 | ||
Electronic Equipment, Instruments & Components — 0.7% | ||
Allegion US Holding Co., Inc. 5.41%, 7/1/2032 | 4,000 | 3,902 |
Amphenol Corp. 2.20%, 9/15/2031 | 53,000 | 42,859 |
Arrow Electronics, Inc. 6.13%, 3/1/2026 | 24,000 | 23,960 |
CDW LLC | ||
4.13%, 5/1/2025 | 47,000 | 45,848 |
2.67%, 12/1/2026 | 19,000 | 17,413 |
Corning, Inc. | ||
4.75%, 3/15/2042 | 76,000 | 66,601 |
5.45%, 11/15/2079 | 18,000 | 15,720 |
Keysight Technologies, Inc. 4.60%, 4/6/2027 | 9,000 | 8,737 |
TD SYNNEX Corp. 1.75%, 8/9/2026 | 158,000 | 140,949 |
Teledyne Technologies, Inc. 2.75%, 4/1/2031 | 61,000 | 50,878 |
Vontier Corp. | ||
1.80%, 4/1/2026 | 20,000 | 18,147 |
2.95%, 4/1/2031 | 82,000 | 65,323 |
500,337 | ||
Energy Equipment & Services — 0.0% ^ | ||
Halliburton Co. 4.85%, 11/15/2035 | 10,000 | 9,489 |
Entertainment — 0.7% | ||
Electronic Arts, Inc. 1.85%, 2/15/2031 | 62,000 | 49,629 |
TWDC Enterprises 18 Corp. 3.70%, 12/1/2042 | 38,000 | 30,259 |
Walt Disney Co. (The) | ||
2.20%, 1/13/2028 | 57,000 | 51,720 |
2.00%, 9/1/2029 | 5,000 | 4,318 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Entertainment — continued | ||
2.65%, 1/13/2031 | 175,000 | 150,456 |
6.55%, 3/15/2033 | 8,000 | 8,798 |
3.50%, 5/13/2040 | 198,000 | 159,250 |
Warnermedia Holdings, Inc. | ||
6.41%, 3/15/2026 | 20,000 | 20,018 |
5.39%, 3/15/2062 | 39,000 | 31,055 |
505,503 | ||
Financial Services — 1.9% | ||
Berkshire Hathaway, Inc. 3.13%, 3/15/2026 | 148,000 | 142,984 |
Corebridge Financial, Inc. | ||
4.40%, 4/5/2052 | 5,000 | 3,897 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.85%), 6.88%, 12/15/2052 (b) | 15,000 | 14,416 |
Equitable Holdings, Inc. 4.35%, 4/20/2028 | 75,000 | 71,263 |
Fidelity National Information Services, Inc. | ||
1.65%, 3/1/2028 | 50,000 | 43,455 |
5.10%, 7/15/2032 | 10,000 | 9,849 |
3.10%, 3/1/2041 | 124,000 | 86,689 |
Fiserv, Inc. 4.40%, 7/1/2049 | 10,000 | 8,204 |
Global Payments, Inc. 2.65%, 2/15/2025 | 172,000 | 165,478 |
Mastercard, Inc. | ||
4.85%, 3/9/2033 | 30,000 | 29,882 |
3.85%, 3/26/2050 | 75,000 | 61,286 |
National Rural Utilities Cooperative Finance Corp. | ||
2.85%, 1/27/2025 | 35,000 | 33,982 |
1.35%, 3/15/2031 | 65,000 | 49,113 |
2.75%, 4/15/2032 | 4,000 | 3,280 |
(3-MONTH SOFR + 3.63%), 5.25%, 4/20/2046 (b) | 30,000 | 28,578 |
PayPal Holdings, Inc. | ||
1.65%, 6/1/2025 | 13,000 | 12,314 |
5.25%, 6/1/2062 | 10,000 | 9,330 |
Shell International Finance BV (Netherlands) | ||
3.25%, 5/11/2025 | 73,000 | 71,107 |
2.38%, 11/7/2029 | 20,000 | 17,485 |
4.13%, 5/11/2035 | 19,000 | 17,411 |
4.38%, 5/11/2045 | 60,000 | 51,950 |
4.00%, 5/10/2046 | 30,000 | 24,446 |
3.75%, 9/12/2046 | 88,000 | 68,758 |
3.13%, 11/7/2049 | 69,000 | 47,492 |
3.00%, 11/26/2051 | 100,000 | 66,491 |
Visa, Inc. | ||
0.75%, 8/15/2027 | 123,000 | 107,495 |
2.05%, 4/15/2030 | 82,000 | 69,956 |
4.15%, 12/14/2035 | 64,000 | 60,218 |
2.00%, 8/15/2050 | 78,000 | 45,225 |
Voya Financial, Inc. (3-MONTH SOFR + 2.08%), 4.70%, 1/23/2048 (b) | 28,000 | 22,601 |
1,444,635 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Food Products — 1.5% | ||
Archer-Daniels-Midland Co. 3.75%, 9/15/2047 | 122,000 | 93,256 |
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 60,000 | 50,707 |
Conagra Brands, Inc. 5.40%, 11/1/2048 | 28,000 | 25,025 |
Hershey Co. (The) | ||
0.90%, 6/1/2025 | 143,000 | 134,319 |
2.30%, 8/15/2026 | 23,000 | 21,606 |
1.70%, 6/1/2030 | 81,000 | 66,734 |
Hormel Foods Corp. 1.70%, 6/3/2028 | 122,000 | 107,312 |
J M Smucker Co. (The) | ||
3.50%, 3/15/2025 | 3,000 | 2,926 |
2.75%, 9/15/2041 | 227,000 | 147,315 |
Kraft Heinz Foods Co. | ||
3.00%, 6/1/2026 | 182,000 | 172,805 |
5.50%, 6/1/2050 | 18,000 | 17,293 |
Pilgrim's Pride Corp. | ||
4.25%, 4/15/2031 | 38,000 | 32,909 |
3.50%, 3/1/2032 | 64,000 | 51,821 |
6.25%, 7/1/2033 | 2,000 | 1,971 |
Tyson Foods, Inc. | ||
3.55%, 6/2/2027 | 176,000 | 165,761 |
5.10%, 9/28/2048 | 62,000 | 52,316 |
1,144,076 | ||
Gas Utilities — 0.3% | ||
Atmos Energy Corp. | ||
1.50%, 1/15/2031 | 19,000 | 14,831 |
4.13%, 3/15/2049 | 32,000 | 25,499 |
5.75%, 10/15/2052 | 10,000 | 10,191 |
Piedmont Natural Gas Co., Inc. | ||
3.64%, 11/1/2046 | 55,000 | 38,016 |
5.05%, 5/15/2052 | 46,000 | 40,052 |
Southern California Gas Co. Series VV, 4.30%, 1/15/2049 | 65,000 | 51,793 |
Washington Gas Light Co. | ||
Series K, 3.80%, 9/15/2046 | 34,000 | 23,968 |
3.65%, 9/15/2049 | 82,000 | 56,282 |
260,632 | ||
Ground Transportation — 1.3% | ||
Burlington Northern Santa Fe LLC 4.45%, 1/15/2053 | 78,000 | 67,396 |
Canadian National Railway Co. (Canada) | ||
2.45%, 5/1/2050 | 2,000 | 1,200 |
4.40%, 8/5/2052 | 10,000 | 8,613 |
Canadian Pacific Railway Co. (Canada) | ||
1.75%, 12/2/2026 | 163,000 | 147,841 |
2.05%, 3/5/2030 | 18,000 | 14,941 |
2.45%, 12/2/2031 | 24,000 | 21,773 |
3.00%, 12/2/2041 | 33,000 | 28,818 |
4.30%, 5/15/2043 | 69,000 | 56,608 |
4.70%, 5/1/2048 | 23,000 | 19,541 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Ground Transportation — continued | ||
6.13%, 9/15/2115 | 10,000 | 10,139 |
CSX Corp. | ||
2.60%, 11/1/2026 | 36,000 | 33,699 |
3.95%, 5/1/2050 | 141,000 | 109,731 |
4.65%, 3/1/2068 | 44,000 | 36,658 |
Norfolk Southern Corp. | ||
4.15%, 2/28/2048 | 96,000 | 76,248 |
3.70%, 3/15/2053 | 9,000 | 6,484 |
3.16%, 5/15/2055 | 11,000 | 7,034 |
5.10%, 8/1/2118 | 20,000 | 16,595 |
4.10%, 5/15/2121 | 59,000 | 40,681 |
Ryder System, Inc. | ||
2.85%, 3/1/2027 | 191,000 | 176,163 |
6.60%, 12/1/2033 | 5,000 | 5,255 |
Union Pacific Corp. | ||
3.25%, 1/15/2025 | 91,000 | 88,953 |
2.89%, 4/6/2036 | 1,000 | 792 |
3.88%, 2/1/2055 | 7,000 | 5,261 |
2.97%, 9/16/2062 | 6,000 | 3,633 |
3.75%, 2/5/2070 | 49,000 | 34,321 |
3.80%, 4/6/2071 | 24,000 | 17,195 |
1,035,573 | ||
Health Care Equipment & Supplies — 1.7% | ||
Abbott Laboratories | ||
1.15%, 1/30/2028 | 94,000 | 82,218 |
4.75%, 4/15/2043 | 11,000 | 10,547 |
4.90%, 11/30/2046 | 80,000 | 77,113 |
Baxter International, Inc. | ||
2.27%, 12/1/2028 | 218,000 | 188,480 |
1.73%, 4/1/2031 | 3,000 | 2,308 |
3.13%, 12/1/2051 | 81,000 | 50,992 |
Becton Dickinson & Co. | ||
2.82%, 5/20/2030 | 35,000 | 30,261 |
4.69%, 12/15/2044 | 61,000 | 53,282 |
Boston Scientific Corp. 4.70%, 3/1/2049 | 33,000 | 29,260 |
DENTSPLY SIRONA, Inc. 3.25%, 6/1/2030 | 37,000 | 31,723 |
DH Europe Finance II SARL 2.60%, 11/15/2029 | 132,000 | 115,587 |
GE HealthCare Technologies, Inc. 5.65%, 11/15/2027 | 171,000 | 173,213 |
Koninklijke Philips NV (Netherlands) 5.00%, 3/15/2042 | 21,000 | 17,977 |
Medtronic, Inc. | ||
4.38%, 3/15/2035 | 58,000 | 54,329 |
4.63%, 3/15/2045 | 10,000 | 9,096 |
STERIS Irish FinCo. UnLtd. Co. 2.70%, 3/15/2031 | 197,000 | 163,408 |
Stryker Corp. | ||
1.15%, 6/15/2025 | 53,000 | 49,718 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Health Care Equipment & Supplies — continued | ||
3.50%, 3/15/2026 | 97,000 | 93,447 |
4.38%, 5/15/2044 | 91,000 | 76,987 |
1,309,946 | ||
Health Care Providers & Services — 3.1% | ||
Aetna, Inc. 3.88%, 8/15/2047 | 46,000 | 33,586 |
Ascension Health | ||
3.95%, 11/15/2046 | 53,000 | 41,916 |
4.85%, 11/15/2053 | 1,000 | 906 |
Baptist Health South Florida Obligated Group Series 2021, 3.12%, 11/15/2071 | 55,000 | 30,572 |
Cardinal Health, Inc. 4.37%, 6/15/2047 | 35,000 | 28,075 |
Centene Corp. | ||
2.45%, 7/15/2028 | 200,000 | 173,310 |
3.38%, 2/15/2030 | 22,000 | 19,010 |
Cigna Group (The) | ||
4.13%, 11/15/2025 | 90,000 | 87,914 |
5.69%, 3/15/2026 | 4,000 | 3,995 |
2.40%, 3/15/2030 | 99,000 | 83,971 |
4.80%, 8/15/2038 | 104,000 | 95,982 |
4.90%, 12/15/2048 | 3,000 | 2,660 |
3.40%, 3/15/2051 | 5,000 | 3,430 |
CommonSpirit Health 6.07%, 11/1/2027 | 145,000 | 147,618 |
CVS Health Corp. | ||
4.10%, 3/25/2025 | 37,000 | 36,429 |
3.75%, 4/1/2030 | 117,000 | 107,116 |
2.13%, 9/15/2031 | 56,000 | 44,423 |
6.13%, 9/15/2039 | 11,000 | 11,133 |
5.05%, 3/25/2048 | 79,000 | 69,319 |
5.63%, 2/21/2053 | 140,000 | 132,657 |
6.00%, 6/1/2063 | 5,000 | 4,900 |
Elevance Health, Inc. | ||
3.35%, 12/1/2024 | 32,000 | 31,263 |
4.55%, 5/15/2052 | 62,000 | 52,458 |
6.10%, 10/15/2052 | 10,000 | 10,584 |
Hackensack Meridian Health, Inc. 4.21%, 7/1/2048 | 60,000 | 48,817 |
HCA, Inc. | ||
5.38%, 2/1/2025 | 72,000 | 71,575 |
4.13%, 6/15/2029 | 11,000 | 10,199 |
5.50%, 6/1/2033 | 3,000 | 2,948 |
5.13%, 6/15/2039 | 13,000 | 11,660 |
4.38%, 3/15/2042 | 7,000 | 5,543 |
5.25%, 6/15/2049 | 22,000 | 19,108 |
3.50%, 7/15/2051 | 4,000 | 2,612 |
4.63%, 3/15/2052 | 15,000 | 11,857 |
Humana, Inc. | ||
4.50%, 4/1/2025 | 119,000 | 117,393 |
4.80%, 3/15/2047 | 26,000 | 22,411 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Health Care Providers & Services — continued | ||
Laboratory Corp. of America Holdings | ||
2.95%, 12/1/2029 | 37,000 | 32,317 |
4.70%, 2/1/2045 | 26,000 | 22,294 |
Mass General Brigham, Inc. Series 2020, 3.34%, 7/1/2060 | 10,000 | 6,546 |
New York and Presbyterian Hospital (The) Series 2019, 3.95%, 8/1/2119 | 10,000 | 6,797 |
Novant Health, Inc. 3.32%, 11/1/2061 | 10,000 | 6,213 |
Ochsner LSU Health System of North Louisiana Series 2021, 2.51%, 5/15/2031 | 15,000 | 9,827 |
Providence St. Joseph Health Obligated Group Series A, 3.93%, 10/1/2048 | 98,000 | 72,439 |
Quest Diagnostics, Inc. | ||
3.50%, 3/30/2025 | 24,000 | 23,373 |
2.80%, 6/30/2031 | 75,000 | 62,978 |
RWJ Barnabas Health, Inc. 3.48%, 7/1/2049 | 19,000 | 13,571 |
UnitedHealth Group, Inc. | ||
3.75%, 7/15/2025 | 187,000 | 183,105 |
5.80%, 3/15/2036 | 6,000 | 6,300 |
6.63%, 11/15/2037 | 34,000 | 38,263 |
3.50%, 8/15/2039 | 146,000 | 117,223 |
2.75%, 5/15/2040 | 29,000 | 20,745 |
4.63%, 11/15/2041 | 65,000 | 58,662 |
3.25%, 5/15/2051 | 85,000 | 59,546 |
3.13%, 5/15/2060 | 67,000 | 43,375 |
6.05%, 2/15/2063 | 8,000 | 8,649 |
2,369,573 | ||
Health Care REITs — 0.2% | ||
Healthpeak OP LLC 2.88%, 1/15/2031 | 68,000 | 56,171 |
Sabra Health Care LP 3.90%, 10/15/2029 | 21,000 | 18,204 |
Ventas Realty LP | ||
2.50%, 9/1/2031 | 59,000 | 46,602 |
4.38%, 2/1/2045 | 3,000 | 2,238 |
Welltower OP LLC 4.95%, 9/1/2048 | 26,000 | 22,608 |
145,823 | ||
Hotels, Restaurants & Leisure — 0.9% | ||
Choice Hotels International, Inc. 3.70%, 1/15/2031 | 49,000 | 40,603 |
Expedia Group, Inc. | ||
4.63%, 8/1/2027 | 5,000 | 4,877 |
3.25%, 2/15/2030 | 60,000 | 52,990 |
Hyatt Hotels Corp. 5.38%, 4/23/2025 (a) | 15,000 | 14,923 |
McDonald's Corp. | ||
1.45%, 9/1/2025 | 81,000 | 75,920 |
2.13%, 3/1/2030 | 50,000 | 42,468 |
4.60%, 9/9/2032 | 18,000 | 17,600 |
3.63%, 5/1/2043 | 161,000 | 123,550 |
5.15%, 9/9/2052 | 35,000 | 32,856 |
Starbucks Corp. | ||
3.80%, 8/15/2025 | 50,000 | 48,769 |
3.00%, 2/14/2032 | 162,000 | 140,020 |
4.50%, 11/15/2048 | 60,000 | 51,279 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Hotels, Restaurants & Leisure — continued | ||
3.35%, 3/12/2050 | 53,000 | 36,810 |
3.50%, 11/15/2050 | 10,000 | 7,216 |
689,881 | ||
Household Durables — 0.6% | ||
DR Horton, Inc. 1.40%, 10/15/2027 | 90,000 | 78,453 |
Leggett & Platt, Inc. 3.50%, 11/15/2051 | 22,000 | 14,442 |
Lennar Corp. 4.75%, 11/29/2027 | 121,000 | 118,499 |
Mohawk Industries, Inc. 3.63%, 5/15/2030 | 154,000 | 137,980 |
Toll Brothers Finance Corp. 4.88%, 11/15/2025 | 46,000 | 45,313 |
Whirlpool Corp. 4.60%, 5/15/2050 | 71,000 | 55,462 |
450,149 | ||
Household Products — 0.7% | ||
Church & Dwight Co., Inc. 3.95%, 8/1/2047 | 20,000 | 15,564 |
Clorox Co. (The) 3.90%, 5/15/2028 | 50,000 | 47,503 |
Colgate-Palmolive Co. | ||
4.80%, 3/2/2026 | 50,000 | 50,191 |
4.00%, 8/15/2045 | 25,000 | 21,452 |
Kimberly-Clark Corp. | ||
6.63%, 8/1/2037 | 143,000 | 162,223 |
2.88%, 2/7/2050 | 41,000 | 27,025 |
Procter & Gamble Co. (The) | ||
0.55%, 10/29/2025 | 10,000 | 9,254 |
2.70%, 2/2/2026 | 58,000 | 55,563 |
2.85%, 8/11/2027 | 12,000 | 11,312 |
1.95%, 4/23/2031 | 47,000 | 39,404 |
3.50%, 10/25/2047 | 88,000 | 69,542 |
509,033 | ||
Industrial Conglomerates — 0.6% | ||
3M Co. | ||
3.38%, 3/1/2029 | 198,000 | 181,033 |
5.70%, 3/15/2037 | 66,000 | 68,344 |
GE Capital Funding LLC 4.55%, 5/15/2032 | 50,000 | 46,997 |
Honeywell International, Inc. | ||
2.50%, 11/1/2026 | 86,000 | 81,130 |
5.70%, 3/15/2036 | 80,000 | 83,366 |
2.80%, 6/1/2050 | 47,000 | 32,885 |
493,755 | ||
Industrial REITs — 0.1% | ||
Prologis LP 3.00%, 4/15/2050 | 67,000 | 43,067 |
Rexford Industrial Realty LP 2.13%, 12/1/2030 | 70,000 | 54,682 |
97,749 | ||
Insurance — 2.9% | ||
ACE Capital Trust II 9.70%, 4/1/2030 | 10,000 | 11,561 |
Aflac, Inc. 3.60%, 4/1/2030 | 100,000 | 91,951 |
Alleghany Corp. 3.25%, 8/15/2051 | 36,000 | 24,656 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Insurance — continued | ||
Allstate Corp. (The) | ||
5.25%, 3/30/2033 | 99,000 | 97,566 |
(3-MONTH SOFR + 2.12%), 6.50%, 5/15/2057 (b) | 10,000 | 9,206 |
American Equity Investment Life Holding Co. 5.00%, 6/15/2027 | 15,000 | 14,156 |
American International Group, Inc. 3.88%, 1/15/2035 | 6,000 | 5,156 |
Aon Corp. | ||
4.50%, 12/15/2028 | 30,000 | 29,014 |
6.25%, 9/30/2040 | 10,000 | 10,300 |
Arch Capital Group Ltd. 3.64%, 6/30/2050 | 64,000 | 45,270 |
Assured Guaranty US Holdings, Inc. 6.13%, 9/15/2028 | 132,000 | 135,433 |
AXIS Specialty Finance LLC (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.19%), 4.90%, 1/15/2040 (b) | 11,000 | 8,976 |
Berkshire Hathaway Finance Corp. | ||
2.88%, 3/15/2032 | 5,000 | 4,328 |
5.75%, 1/15/2040 | 26,000 | 27,969 |
4.20%, 8/15/2048 | 46,000 | 39,348 |
4.25%, 1/15/2049 | 10,000 | 8,630 |
2.85%, 10/15/2050 | 119,000 | 77,753 |
2.50%, 1/15/2051 | 22,000 | 13,423 |
3.85%, 3/15/2052 | 9,000 | 7,039 |
Brighthouse Financial, Inc. 3.85%, 12/22/2051 | 77,000 | 47,039 |
Chubb INA Holdings, Inc. | ||
6.70%, 5/15/2036 | 11,000 | 12,218 |
3.05%, 12/15/2061 | 14,000 | 9,087 |
Cincinnati Financial Corp. 6.13%, 11/1/2034 | 30,000 | 30,190 |
Enstar Finance LLC | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.47%), 5.75%, 9/1/2040 (b) | 15,000 | 13,963 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.01%), 5.50%, 1/15/2042 (b) | 13,000 | 10,686 |
F&G Annuities & Life, Inc. 7.40%, 1/13/2028 | 33,000 | 33,394 |
Hartford Financial Services Group, Inc. (The) 2.90%, 9/15/2051 | 123,000 | 75,923 |
Kemper Corp. | ||
2.40%, 9/30/2030 | 125,000 | 92,878 |
3.80%, 2/23/2032 | 2,000 | 1,571 |
Lincoln National Corp. 6.30%, 10/9/2037 | 83,000 | 83,212 |
Loews Corp. 6.00%, 2/1/2035 | 32,000 | 33,128 |
Manulife Financial Corp. (Canada) | ||
2.48%, 5/19/2027 | 123,000 | 111,971 |
(USD ICE Swap Rate 5 Year + 1.65%), 4.06%, 2/24/2032 (b) | 50,000 | 45,702 |
Markel Group, Inc. 3.35%, 9/17/2029 | 32,000 | 28,675 |
Marsh & McLennan Cos., Inc. | ||
3.50%, 3/10/2025 | 98,000 | 95,725 |
6.25%, 11/1/2052 | 10,000 | 10,827 |
MetLife, Inc. | ||
10.75%, 8/1/2039 | 11,000 | 14,357 |
5.25%, 1/15/2054 | 26,000 | 24,542 |
Primerica, Inc. 2.80%, 11/19/2031 | 189,000 | 152,845 |
Principal Financial Group, Inc. | ||
3.70%, 5/15/2029 | 90,000 | 82,792 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Insurance — continued | ||
5.38%, 3/15/2033 | 86,000 | 84,670 |
4.63%, 9/15/2042 | 14,000 | 11,782 |
5.50%, 3/15/2053 | 5,000 | 4,621 |
Progressive Corp. (The) 4.13%, 4/15/2047 | 56,000 | 45,756 |
Prudential Financial, Inc. | ||
(3-MONTH SOFR + 2.38%), 4.50%, 9/15/2047 (b) | 18,000 | 16,207 |
3.94%, 12/7/2049 | 41,000 | 31,075 |
3.70%, 3/13/2051 | 70,000 | 51,405 |
Prudential Funding Asia plc (Hong Kong) 3.13%, 4/14/2030 | 29,000 | 25,213 |
RenaissanceRe Holdings Ltd. (Bermuda) 5.75%, 6/5/2033 | 54,000 | 52,905 |
Selective Insurance Group, Inc. 5.38%, 3/1/2049 | 18,000 | 16,148 |
Transatlantic Holdings, Inc. 8.00%, 11/30/2039 | 22,000 | 26,697 |
Travelers Cos., Inc. (The) | ||
4.10%, 3/4/2049 | 15,000 | 12,107 |
3.05%, 6/8/2051 | 55,000 | 36,755 |
Travelers Property Casualty Corp. 6.38%, 3/15/2033 | 111,000 | 121,817 |
W R Berkley Corp. 3.15%, 9/30/2061 | 2,000 | 1,153 |
Willis North America, Inc. 3.88%, 9/15/2049 | 33,000 | 24,013 |
WR Berkley Corp. 4.75%, 8/1/2044 | 7,000 | 5,877 |
2,240,661 | ||
Interactive Media & Services — 0.7% | ||
Alphabet, Inc. | ||
1.90%, 8/15/2040 | 100,000 | 65,931 |
2.05%, 8/15/2050 | 162,000 | 94,664 |
2.25%, 8/15/2060 | 79,000 | 46,036 |
Meta Platforms, Inc. | ||
3.50%, 8/15/2027 | 53,000 | 50,768 |
4.80%, 5/15/2030 | 176,000 | 176,325 |
4.95%, 5/15/2033 | 42,000 | 41,767 |
4.65%, 8/15/2062 | 103,000 | 88,634 |
564,125 | ||
IT Services — 0.4% | ||
International Business Machines Corp. | ||
4.00%, 7/27/2025 | 180,000 | 176,622 |
5.88%, 11/29/2032 | 22,000 | 23,336 |
7.13%, 12/1/2096 | 37,000 | 43,395 |
VeriSign, Inc. 2.70%, 6/15/2031 | 46,000 | 37,746 |
281,099 | ||
Leisure Products — 0.1% | ||
Brunswick Corp. 5.10%, 4/1/2052 | 20,000 | 14,536 |
Hasbro, Inc. 3.90%, 11/19/2029 | 64,000 | 57,578 |
Mattel, Inc. 5.45%, 11/1/2041 | 46,000 | 39,201 |
111,315 | ||
Life Sciences Tools & Services — 0.2% | ||
Agilent Technologies, Inc. 2.30%, 3/12/2031 | 58,000 | 47,886 |
Illumina, Inc. 5.75%, 12/13/2027 | 84,000 | 84,205 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Life Sciences Tools & Services — continued | ||
Revvity, Inc. | ||
3.30%, 9/15/2029 | 18,000 | 15,849 |
3.63%, 3/15/2051 | 13,000 | 8,682 |
156,622 | ||
Machinery — 0.9% | ||
Caterpillar, Inc. | ||
6.05%, 8/15/2036 | 21,000 | 22,635 |
4.75%, 5/15/2064 | 16,000 | 14,241 |
CNH Industrial Capital LLC | ||
3.95%, 5/23/2025 | 57,000 | 55,609 |
1.45%, 7/15/2026 | 128,000 | 115,986 |
Deere & Co. 2.88%, 9/7/2049 | 191,000 | 130,890 |
Dover Corp. 5.38%, 10/15/2035 | 50,000 | 49,731 |
Illinois Tool Works, Inc. | ||
2.65%, 11/15/2026 | 205,000 | 194,081 |
3.90%, 9/1/2042 | 26,000 | 21,735 |
Otis Worldwide Corp. | ||
2.06%, 4/5/2025 | 16,000 | 15,300 |
2.57%, 2/15/2030 | 40,000 | 34,232 |
3.36%, 2/15/2050 | 5,000 | 3,584 |
Parker-Hannifin Corp. 4.20%, 11/21/2034 | 3,000 | 2,716 |
Snap-on, Inc. 4.10%, 3/1/2048 | 40,000 | 32,572 |
Stanley Black & Decker, Inc. 3.00%, 5/15/2032 | 17,000 | 14,150 |
707,462 | ||
Media — 2.8% | ||
Charter Communications Operating LLC | ||
3.75%, 2/15/2028 | 45,000 | 41,763 |
2.30%, 2/1/2032 | 150,000 | 114,754 |
4.40%, 4/1/2033 | 2,000 | 1,772 |
3.50%, 3/1/2042 | 52,000 | 34,282 |
5.38%, 5/1/2047 | 30,000 | 24,244 |
4.80%, 3/1/2050 | 31,000 | 22,935 |
3.85%, 4/1/2061 | 161,000 | 96,136 |
3.95%, 6/30/2062 | 3,000 | 1,805 |
5.50%, 4/1/2063 | 50,000 | 39,496 |
Comcast Corp. | ||
5.25%, 11/7/2025 | 140,000 | 140,378 |
4.25%, 1/15/2033 | 135,000 | 125,862 |
3.90%, 3/1/2038 | 204,000 | 173,392 |
6.55%, 7/1/2039 | 37,000 | 40,117 |
3.75%, 4/1/2040 | 57,000 | 46,401 |
4.00%, 11/1/2049 | 228,000 | 178,497 |
2.94%, 11/1/2056 | 238,000 | 145,296 |
Discovery Communications LLC | ||
3.95%, 3/20/2028 | 181,000 | 169,311 |
3.63%, 5/15/2030 | 12,000 | 10,600 |
5.30%, 5/15/2049 | 20,000 | 16,345 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Media — continued | ||
4.65%, 5/15/2050 | 75,000 | 56,510 |
4.00%, 9/15/2055 | 120,000 | 79,226 |
Fox Corp. | ||
5.48%, 1/25/2039 | 125,000 | 114,116 |
5.58%, 1/25/2049 | 10,000 | 8,897 |
Omnicom Group, Inc. 2.60%, 8/1/2031 | 27,000 | 22,309 |
Paramount Global | ||
2.90%, 1/15/2027 | 26,000 | 23,568 |
3.70%, 6/1/2028 | 9,000 | 8,064 |
4.95%, 1/15/2031 | 5,000 | 4,530 |
4.20%, 5/19/2032 | 139,000 | 117,583 |
5.50%, 5/15/2033 | 108,000 | 98,198 |
5.25%, 4/1/2044 | 22,000 | 16,535 |
4.95%, 5/19/2050 | 16,000 | 11,773 |
Time Warner Cable LLC | ||
6.55%, 5/1/2037 | 72,000 | 67,911 |
5.88%, 11/15/2040 | 23,000 | 19,854 |
4.50%, 9/15/2042 | 55,000 | 40,650 |
2,113,110 | ||
Metals & Mining — 0.7% | ||
ArcelorMittal SA (Luxembourg) 6.75%, 3/1/2041 (a) | 56,000 | 55,941 |
Barrick Gold Corp. (Canada) 6.45%, 10/15/2035 | 45,000 | 47,628 |
BHP Billiton Finance USA Ltd. (Australia) | ||
5.10%, 9/8/2028 | 2,000 | 2,006 |
5.25%, 9/8/2033 | 2,000 | 2,003 |
Freeport-McMoRan, Inc. 4.13%, 3/1/2028 | 34,000 | 31,840 |
Kinross Gold Corp. (Canada) 4.50%, 7/15/2027 | 85,000 | 82,097 |
Nucor Corp. | ||
2.00%, 6/1/2025 | 44,000 | 41,798 |
4.30%, 5/23/2027 | 10,000 | 9,747 |
2.98%, 12/15/2055 | 51,000 | 30,934 |
Rio Tinto Alcan, Inc. (Canada) 6.13%, 12/15/2033 | 43,000 | 45,105 |
Rio Tinto Finance USA Ltd. (Australia) 2.75%, 11/2/2051 | 52,000 | 32,664 |
Rio Tinto Finance USA plc (Australia) 5.13%, 3/9/2053 | 18,000 | 17,283 |
Southern Copper Corp. (Mexico) | ||
5.25%, 11/8/2042 | 35,000 | 31,171 |
5.88%, 4/23/2045 | 53,000 | 50,368 |
Teck Resources Ltd. (Canada) 5.40%, 2/1/2043 | 25,000 | 22,162 |
Vale Overseas Ltd. (Brazil) | ||
3.75%, 7/8/2030 | 31,000 | 27,403 |
6.88%, 11/10/2039 | 42,000 | 43,476 |
573,626 | ||
Multi-Utilities — 1.8% | ||
Ameren Corp. 3.50%, 1/15/2031 | 30,000 | 26,522 |
Avista Corp. 4.00%, 4/1/2052 | 8,000 | 5,864 |
Berkshire Hathaway Energy Co. | ||
6.13%, 4/1/2036 | 50,000 | 51,500 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Multi-Utilities — continued | ||
2.85%, 5/15/2051 | 143,000 | 88,854 |
Black Hills Corp. 3.88%, 10/15/2049 | 39,000 | 27,158 |
Consolidated Edison Co. of New York, Inc. | ||
Series 20B, 3.95%, 4/1/2050 | 76,000 | 58,826 |
3.20%, 12/1/2051 | 64,000 | 41,929 |
3.70%, 11/15/2059 | 72,000 | 49,070 |
Consumers Energy Co. | ||
4.63%, 5/15/2033 | 85,000 | 81,323 |
3.95%, 7/15/2047 | 85,000 | 66,792 |
2.50%, 5/1/2060 | 40,000 | 22,019 |
Dominion Energy, Inc. | ||
Series A, 3.30%, 3/15/2025 | 106,000 | 102,977 |
3.90%, 10/1/2025 | 8,000 | 7,770 |
National Grid plc (United Kingdom) 5.81%, 6/12/2033 | 41,000 | 41,221 |
NiSource, Inc. | ||
0.95%, 8/15/2025 | 117,000 | 108,166 |
3.49%, 5/15/2027 | 22,000 | 20,795 |
3.60%, 5/1/2030 | 11,000 | 9,883 |
5.00%, 6/15/2052 | 13,000 | 11,302 |
Puget Energy, Inc. 2.38%, 6/15/2028 | 180,000 | 156,556 |
Puget Sound Energy, Inc. 2.89%, 9/15/2051 | 84,000 | 51,185 |
San Diego Gas & Electric Co. 2.95%, 8/15/2051 | 57,000 | 36,194 |
Southern Co. Gas Capital Corp. | ||
Series 20-A, 1.75%, 1/15/2031 | 81,000 | 63,245 |
4.40%, 5/30/2047 | 30,000 | 23,596 |
WEC Energy Group, Inc. | ||
5.00%, 9/27/2025 | 50,000 | 49,561 |
4.75%, 1/15/2028 | 1,000 | 981 |
2.20%, 12/15/2028 | 205,000 | 177,328 |
1,380,617 | ||
Office REITs — 0.7% | ||
Alexandria Real Estate Equities, Inc. | ||
2.75%, 12/15/2029 | 50,000 | 42,395 |
2.00%, 5/18/2032 | 58,000 | 43,788 |
Boston Properties LP | ||
3.20%, 1/15/2025 | 47,000 | 45,377 |
2.75%, 10/1/2026 | 166,000 | 150,421 |
4.50%, 12/1/2028 | 29,000 | 26,662 |
2.45%, 10/1/2033 | 34,000 | 23,847 |
Corporate Office Properties LP 2.75%, 4/15/2031 | 89,000 | 68,261 |
Hudson Pacific Properties LP 4.65%, 4/1/2029 | 10,000 | 7,527 |
Kilroy Realty LP | ||
4.38%, 10/1/2025 | 119,000 | 113,854 |
4.25%, 8/15/2029 | 5,000 | 4,349 |
2.50%, 11/15/2032 | 9,000 | 6,314 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Office REITs — continued | ||
Piedmont Operating Partnership LP | ||
9.25%, 7/20/2028 | 12,000 | 12,271 |
3.15%, 8/15/2030 | 9,000 | 6,514 |
551,580 | ||
Oil, Gas & Consumable Fuels — 6.2% | ||
Apache Corp. | ||
4.25%, 1/15/2030 | 42,000 | 38,153 |
4.75%, 4/15/2043 | 75,000 | 56,471 |
BP Capital Markets America, Inc. | ||
3.02%, 1/16/2027 | 4,000 | 3,783 |
4.23%, 11/6/2028 | 144,000 | 139,992 |
3.00%, 3/17/2052 | 113,000 | 73,748 |
3.38%, 2/8/2061 | 67,000 | 44,750 |
BP Capital Markets plc (United Kingdom) 3.28%, 9/19/2027 | 37,000 | 35,103 |
Canadian Natural Resources Ltd. (Canada) 4.95%, 6/1/2047 | 30,000 | 25,629 |
Cenovus Energy, Inc. (Canada) 3.75%, 2/15/2052 | 113,000 | 78,376 |
Cheniere Energy, Inc. 4.63%, 10/15/2028 | 100,000 | 95,202 |
Chevron Corp. 2.95%, 5/16/2026 | 79,000 | 75,686 |
Chevron USA, Inc. 0.69%, 8/12/2025 | 167,000 | 155,503 |
Columbia Pipeline Group, Inc. 4.50%, 6/1/2025 | 91,000 | 89,422 |
ConocoPhillips 5.90%, 10/15/2032 | 6,000 | 6,349 |
ConocoPhillips Co. | ||
4.03%, 3/15/2062 | 73,000 | 55,278 |
5.70%, 9/15/2063 | 30,000 | 30,318 |
DCP Midstream Operating LP 5.60%, 4/1/2044 | 28,000 | 26,039 |
Devon Energy Corp. | ||
5.60%, 7/15/2041 | 62,000 | 56,990 |
5.00%, 6/15/2045 | 10,000 | 8,406 |
Diamondback Energy, Inc. | ||
3.25%, 12/1/2026 | 84,000 | 79,757 |
3.50%, 12/1/2029 | 139,000 | 125,813 |
Enbridge Energy Partners LP Series B, 7.50%, 4/15/2038 | 23,000 | 25,534 |
Enbridge, Inc. (Canada) 2.50%, 8/1/2033 | 67,000 | 52,321 |
Energy Transfer LP | ||
5.75%, 4/1/2025 | 9,000 | 8,962 |
4.95%, 5/15/2028 | 49,000 | 47,746 |
3.75%, 5/15/2030 | 27,000 | 24,244 |
5.80%, 6/15/2038 | 2,000 | 1,912 |
5.40%, 10/1/2047 | 96,000 | 84,543 |
5.00%, 5/15/2050 | 17,000 | 14,307 |
Enterprise Products Operating LLC | ||
3.95%, 2/15/2027 | 17,000 | 16,481 |
2.80%, 1/31/2030 | 130,000 | 114,153 |
4.85%, 8/15/2042 | 93,000 | 84,827 |
3.20%, 2/15/2052 | 73,000 | 49,680 |
3.30%, 2/15/2053 | 10,000 | 6,988 |
3.95%, 1/31/2060 | 35,000 | 26,510 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
Series E, (3-MONTH CME TERM SOFR + 3.29%), 5.25%, 8/16/2077 (b) | 28,000 | 25,674 |
(3-MONTH CME TERM SOFR + 2.83%), 5.38%, 2/15/2078 (b) | 2,000 | 1,736 |
EQT Corp. 7.00%, 2/1/2030 (a) | 48,000 | 50,352 |
Exxon Mobil Corp. | ||
2.99%, 3/19/2025 | 5,000 | 4,867 |
3.04%, 3/1/2026 | 20,000 | 19,244 |
2.44%, 8/16/2029 | 118,000 | 104,255 |
4.23%, 3/19/2040 | 166,000 | 147,747 |
3.10%, 8/16/2049 | 90,000 | 62,482 |
3.45%, 4/15/2051 | 17,000 | 12,589 |
Hess Corp. | ||
4.30%, 4/1/2027 | 83,000 | 80,886 |
7.88%, 10/1/2029 | 10,000 | 11,267 |
5.80%, 4/1/2047 | 58,000 | 59,808 |
Kinder Morgan, Inc. | ||
4.30%, 6/1/2025 | 58,000 | 56,969 |
1.75%, 11/15/2026 | 142,000 | 128,833 |
4.80%, 2/1/2033 | 277,000 | 257,766 |
Marathon Oil Corp. | ||
4.40%, 7/15/2027 | 90,000 | 86,234 |
6.60%, 10/1/2037 | 12,000 | 12,146 |
5.20%, 6/1/2045 | 52,000 | 43,299 |
Marathon Petroleum Corp. | ||
4.75%, 9/15/2044 | 15,000 | 12,500 |
5.00%, 9/15/2054 | 58,000 | 47,415 |
MPLX LP | ||
5.20%, 12/1/2047 | 9,000 | 7,680 |
4.95%, 3/14/2052 | 84,000 | 69,956 |
4.90%, 4/15/2058 | 33,000 | 26,077 |
Occidental Petroleum Corp. | ||
5.88%, 9/1/2025 | 109,000 | 109,373 |
5.55%, 3/15/2026 | 24,000 | 23,967 |
4.40%, 4/15/2046 | 61,000 | 46,998 |
ONEOK, Inc. | ||
4.95%, 7/13/2047 | 92,000 | 77,468 |
5.20%, 7/15/2048 | 70,000 | 61,437 |
Ovintiv, Inc. | ||
6.50%, 8/15/2034 | 14,000 | 14,246 |
6.50%, 2/1/2038 | 33,000 | 32,492 |
Phillips 66 4.88%, 11/15/2044 | 10,000 | 9,046 |
Plains All American Pipeline LP 6.65%, 1/15/2037 | 10,000 | 10,315 |
Sabine Pass Liquefaction LLC | ||
5.63%, 3/1/2025 | 123,000 | 122,894 |
4.20%, 3/15/2028 | 59,000 | 56,385 |
Targa Resources Corp. 6.50%, 2/15/2053 | 15,000 | 15,233 |
Targa Resources Partners LP 4.88%, 2/1/2031 | 25,000 | 23,274 |
TC PipeLines LP | ||
4.38%, 3/13/2025 | 31,000 | 30,443 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
3.90%, 5/25/2027 | 139,000 | 131,569 |
TotalEnergies Capital International SA (France) | ||
2.83%, 1/10/2030 | 258,000 | 230,028 |
3.39%, 6/29/2060 | 94,000 | 64,524 |
TransCanada PipeLines Ltd. (Canada) | ||
4.63%, 3/1/2034 | 1,000 | 906 |
6.20%, 10/15/2037 | 11,000 | 11,135 |
6.10%, 6/1/2040 | 55,000 | 55,114 |
4.88%, 5/15/2048 | 10,000 | 8,482 |
Transcontinental Gas Pipe Line Co. LLC 4.60%, 3/15/2048 | 150,000 | 124,822 |
Valero Energy Corp. | ||
3.40%, 9/15/2026 | 162,000 | 153,796 |
3.65%, 12/1/2051 | 40,000 | 27,402 |
Western Midstream Operating LP | ||
4.50%, 3/1/2028 | 42,000 | 39,951 |
5.30%, 3/1/2048 | 2,000 | 1,649 |
5.25%, 2/1/2050 (a) | 35,000 | 29,178 |
Williams Cos., Inc. (The) | ||
5.40%, 3/4/2044 | 17,000 | 15,448 |
4.90%, 1/15/2045 | 35,000 | 29,774 |
4,746,107 | ||
Paper & Forest Products — 0.1% | ||
Suzano Austria GmbH (Brazil) | ||
3.75%, 1/15/2031 | 65,000 | 54,897 |
Series DM3N, 3.13%, 1/15/2032 | 41,000 | 32,558 |
87,455 | ||
Passenger Airlines — 0.1% | ||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 | 103,155 | 83,723 |
Personal Care Products — 0.5% | ||
Conopco, Inc. Series E, 7.25%, 12/15/2026 | 28,000 | 29,758 |
Estee Lauder Cos., Inc. (The) | ||
3.15%, 3/15/2027 | 118,000 | 111,685 |
6.00%, 5/15/2037 | 19,000 | 19,777 |
Kenvue, Inc. | ||
5.00%, 3/22/2030 | 24,000 | 24,102 |
4.90%, 3/22/2033 | 162,000 | 160,662 |
345,984 | ||
Pharmaceuticals — 3.4% | ||
AstraZeneca plc (United Kingdom) | ||
3.38%, 11/16/2025 | 52,000 | 50,392 |
6.45%, 9/15/2037 | 24,000 | 26,757 |
4.38%, 11/16/2045 | 68,000 | 59,657 |
2.13%, 8/6/2050 | 147,000 | 85,157 |
3.00%, 5/28/2051 | 51,000 | 35,442 |
Bristol-Myers Squibb Co. | ||
2.90%, 7/26/2024 | 63,000 | 61,986 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Pharmaceuticals — continued | ||
3.40%, 7/26/2029 | 25,000 | 23,216 |
4.35%, 11/15/2047 | 32,000 | 26,723 |
3.90%, 3/15/2062 | 10,000 | 7,371 |
Eli Lilly & Co. | ||
3.38%, 3/15/2029 | 90,000 | 84,961 |
2.25%, 5/15/2050 | 81,000 | 48,790 |
4.15%, 3/15/2059 | 33,000 | 27,363 |
2.50%, 9/15/2060 | 64,000 | 36,768 |
GlaxoSmithKline Capital, Inc. (United Kingdom) | ||
5.38%, 4/15/2034 | 73,000 | 75,816 |
6.38%, 5/15/2038 | 26,000 | 29,018 |
4.20%, 3/18/2043 | 21,000 | 18,351 |
Johnson & Johnson | ||
0.95%, 9/1/2027 | 2,000 | 1,756 |
6.95%, 9/1/2029 | 29,000 | 32,501 |
4.38%, 12/5/2033 | 27,000 | 26,969 |
5.95%, 8/15/2037 | 99,000 | 109,592 |
3.40%, 1/15/2038 | 200,000 | 168,306 |
4.50%, 9/1/2040 | 10,000 | 9,439 |
2.45%, 9/1/2060 | 39,000 | 23,572 |
Merck & Co., Inc. | ||
0.75%, 2/24/2026 | 52,000 | 47,613 |
3.60%, 9/15/2042 | 85,000 | 67,951 |
2.90%, 12/10/2061 | 88,000 | 54,254 |
Merck Sharp & Dohme Corp. 5.95%, 12/1/2028 | 30,000 | 31,518 |
Novartis Capital Corp. (Switzerland) 3.00%, 11/20/2025 | 112,000 | 108,065 |
Pfizer, Inc. | ||
0.80%, 5/28/2025 | 5,000 | 4,697 |
2.75%, 6/3/2026 | 134,000 | 127,606 |
3.00%, 12/15/2026 | 89,000 | 84,513 |
1.70%, 5/28/2030 | 81,000 | 67,303 |
4.00%, 12/15/2036 | 5,000 | 4,504 |
4.10%, 9/15/2038 | 186,000 | 163,738 |
3.90%, 3/15/2039 | 10,000 | 8,474 |
Royalty Pharma plc | ||
3.30%, 9/2/2040 | 103,000 | 72,178 |
3.55%, 9/2/2050 | 51,000 | 33,421 |
3.35%, 9/2/2051 | 2,000 | 1,252 |
Shire Acquisitions Investments Ireland DAC 3.20%, 9/23/2026 | 74,000 | 70,345 |
Takeda Pharmaceutical Co. Ltd. (Japan) 5.00%, 11/26/2028 | 200,000 | 198,478 |
Viatris, Inc. | ||
1.65%, 6/22/2025 | 36,000 | 33,763 |
2.70%, 6/22/2030 | 35,000 | 28,396 |
4.00%, 6/22/2050 | 85,000 | 55,150 |
Wyeth LLC | ||
6.50%, 2/1/2034 | 178,000 | 194,370 |
6.00%, 2/15/2036 | 91,000 | 96,174 |
2,623,666 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Professional Services — 0.5% | ||
Automatic Data Processing, Inc. 1.25%, 9/1/2030 | 14,000 | 11,259 |
Concentrix Corp. | ||
6.60%, 8/2/2028 | 122,000 | 121,917 |
6.85%, 8/2/2033 | 17,000 | 16,664 |
Equifax, Inc. 2.35%, 9/15/2031 | 201,000 | 160,052 |
Jacobs Engineering Group, Inc. 5.90%, 3/1/2033 | 41,000 | 39,987 |
Thomson Reuters Corp. (Canada) | ||
5.50%, 8/15/2035 | 11,000 | 10,763 |
5.65%, 11/23/2043 | 5,000 | 4,595 |
365,237 | ||
Real Estate Management & Development — 0.1% | ||
CBRE Services, Inc. 2.50%, 4/1/2031 | 103,000 | 82,416 |
Residential REITs — 0.4% | ||
American Homes 4 Rent LP 3.38%, 7/15/2051 | 10,000 | 6,198 |
AvalonBay Communities, Inc. 1.90%, 12/1/2028 | 207,000 | 178,335 |
Camden Property Trust | ||
2.80%, 5/15/2030 | 60,000 | 51,735 |
3.35%, 11/1/2049 | 68,000 | 46,793 |
Spirit Realty LP 3.20%, 2/15/2031 | 42,000 | 35,684 |
UDR, Inc. 3.00%, 8/15/2031 | 18,000 | 15,190 |
333,935 | ||
Retail REITs — 0.4% | ||
Brixmor Operating Partnership LP 4.05%, 7/1/2030 | 60,000 | 53,902 |
Federal Realty OP LP 3.25%, 7/15/2027 | 10,000 | 9,231 |
Kimco Realty OP LLC 2.25%, 12/1/2031 | 10,000 | 7,761 |
NNN REIT, Inc. | ||
3.10%, 4/15/2050 | 39,000 | 23,706 |
3.00%, 4/15/2052 | 55,000 | 32,765 |
Realty Income Corp. | ||
5.05%, 1/13/2026 | 16,000 | 15,905 |
4.85%, 3/15/2030 | 138,000 | 133,650 |
4.65%, 3/15/2047 | 10,000 | 8,676 |
Regency Centers LP 3.60%, 2/1/2027 | 43,000 | 40,675 |
326,271 | ||
Semiconductors & Semiconductor Equipment — 2.4% | ||
Analog Devices, Inc. 3.50%, 12/5/2026 | 5,000 | 4,804 |
Broadcom Corp. | ||
3.13%, 1/15/2025 | 22,000 | 21,386 |
3.88%, 1/15/2027 | 100,000 | 96,124 |
Broadcom, Inc. | ||
1.95%, 2/15/2028 (e) | 183,000 | 160,938 |
2.45%, 2/15/2031 (e) | 2,000 | 1,646 |
4.15%, 4/15/2032 (e) | 2,000 | 1,810 |
4.30%, 11/15/2032 | 2,000 | 1,837 |
3.47%, 4/15/2034 (e) | 37,000 | 30,770 |
3.14%, 11/15/2035 (e) | 27,000 | 21,027 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
4.93%, 5/15/2037 (e) | 152,000 | 139,264 |
3.50%, 2/15/2041 (e) | 132,000 | 98,540 |
Intel Corp. | ||
3.40%, 3/25/2025 | 98,000 | 95,715 |
3.90%, 3/25/2030 | 10,000 | 9,466 |
4.25%, 12/15/2042 | 129,000 | 110,083 |
5.63%, 2/10/2043 | 10,000 | 10,171 |
4.90%, 7/29/2045 | 39,000 | 37,161 |
3.25%, 11/15/2049 | 42,000 | 29,043 |
3.20%, 8/12/2061 | 72,000 | 45,960 |
KLA Corp. 4.10%, 3/15/2029 | 151,000 | 146,267 |
Micron Technology, Inc. 5.88%, 9/15/2033 | 48,000 | 48,053 |
NVIDIA Corp. 2.00%, 6/15/2031 | 97,000 | 80,284 |
NXP BV (China) | ||
5.55%, 12/1/2028 | 50,000 | 50,167 |
4.30%, 6/18/2029 | 5,000 | 4,709 |
2.65%, 2/15/2032 | 61,000 | 49,139 |
3.25%, 5/11/2041 | 42,000 | 29,980 |
3.13%, 2/15/2042 | 50,000 | 34,330 |
QUALCOMM, Inc. | ||
3.25%, 5/20/2027 | 161,000 | 153,407 |
4.25%, 5/20/2032 | 94,000 | 90,188 |
Skyworks Solutions, Inc. 3.00%, 6/1/2031 | 2,000 | 1,627 |
Texas Instruments, Inc. | ||
1.13%, 9/15/2026 | 15,000 | 13,627 |
1.75%, 5/4/2030 | 125,000 | 104,630 |
2.70%, 9/15/2051 | 80,000 | 50,379 |
4.10%, 8/16/2052 | 55,000 | 44,875 |
5.00%, 3/14/2053 | 5,000 | 4,794 |
5.05%, 5/18/2063 | 4,000 | 3,785 |
1,825,986 | ||
Software — 1.5% | ||
Fortinet, Inc. 2.20%, 3/15/2031 | 108,000 | 85,860 |
Microsoft Corp. | ||
3.13%, 11/3/2025 | 13,000 | 12,602 |
3.30%, 2/6/2027 | 6,000 | 5,773 |
1.35%, 9/15/2030 (e) | 75,000 | 60,676 |
3.50%, 2/12/2035 | 11,000 | 10,050 |
4.10%, 2/6/2037 | 210,000 | 197,240 |
5.20%, 6/1/2039 | 77,000 | 80,494 |
3.95%, 8/8/2056 | 12,000 | 9,885 |
2.68%, 6/1/2060 | 6,000 | 3,774 |
Oracle Corp. | ||
2.50%, 4/1/2025 | 73,000 | 70,122 |
2.95%, 5/15/2025 | 3,000 | 2,894 |
2.65%, 7/15/2026 | 27,000 | 25,296 |
2.30%, 3/25/2028 | 30,000 | 26,680 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Software — continued | ||
4.30%, 7/8/2034 | 25,000 | 22,547 |
3.90%, 5/15/2035 | 57,000 | 48,758 |
3.85%, 7/15/2036 | 242,000 | 202,217 |
6.50%, 4/15/2038 | 15,000 | 16,019 |
3.60%, 4/1/2050 | 27,000 | 18,878 |
3.95%, 3/25/2051 | 73,000 | 53,968 |
3.85%, 4/1/2060 | 25,000 | 17,153 |
4.10%, 3/25/2061 | 69,000 | 49,567 |
Roper Technologies, Inc. 1.40%, 9/15/2027 | 104,000 | 91,134 |
Salesforce, Inc. 3.05%, 7/15/2061 | 10,000 | 6,400 |
1,117,987 | ||
Specialized REITs — 1.7% | ||
American Tower Corp. | ||
3.38%, 10/15/2026 | 89,000 | 84,003 |
2.10%, 6/15/2030 | 357,000 | 288,368 |
Crown Castle, Inc. | ||
1.35%, 7/15/2025 | 75,000 | 69,984 |
4.00%, 3/1/2027 | 74,000 | 70,368 |
3.10%, 11/15/2029 | 118,000 | 102,526 |
4.75%, 5/15/2047 | 21,000 | 17,068 |
5.20%, 2/15/2049 | 32,000 | 27,914 |
4.00%, 11/15/2049 | 2,000 | 1,460 |
3.25%, 1/15/2051 | 61,000 | 39,198 |
EPR Properties 4.50%, 6/1/2027 | 16,000 | 14,675 |
Equinix, Inc. | ||
1.25%, 7/15/2025 | 116,000 | 108,083 |
1.80%, 7/15/2027 | 19,000 | 16,789 |
1.55%, 3/15/2028 | 32,000 | 27,355 |
2.00%, 5/15/2028 | 10,000 | 8,687 |
3.20%, 11/18/2029 | 130,000 | 114,904 |
Public Storage Operating Co. | ||
1.50%, 11/9/2026 | 126,000 | 114,383 |
1.85%, 5/1/2028 | 109,000 | 94,980 |
2.25%, 11/9/2031 | 45,000 | 36,343 |
Weyerhaeuser Co. 4.00%, 3/9/2052 | 46,000 | 34,903 |
1,271,991 | ||
Specialty Retail — 1.2% | ||
Home Depot, Inc. (The) | ||
3.00%, 4/1/2026 | 9,000 | 8,637 |
2.70%, 4/15/2030 | 345,000 | 304,082 |
5.88%, 12/16/2036 | 20,000 | 21,352 |
4.20%, 4/1/2043 | 46,000 | 39,436 |
3.13%, 12/15/2049 | 53,000 | 36,496 |
2.75%, 9/15/2051 | 137,000 | 86,362 |
3.50%, 9/15/2056 | 11,000 | 7,896 |
Lowe's Cos., Inc. | ||
3.10%, 5/3/2027 | 152,000 | 143,135 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Specialty Retail — continued | ||
2.80%, 9/15/2041 | 200,000 | 135,756 |
3.70%, 4/15/2046 | 13,000 | 9,554 |
4.05%, 5/3/2047 | 66,000 | 50,949 |
4.45%, 4/1/2062 | 20,000 | 15,463 |
5.85%, 4/1/2063 | 20,000 | 19,400 |
O'Reilly Automotive, Inc. 4.35%, 6/1/2028 | 44,000 | 42,790 |
921,308 | ||
Technology Hardware, Storage & Peripherals — 1.7% | ||
Apple, Inc. | ||
0.55%, 8/20/2025 | 14,000 | 13,021 |
0.70%, 2/8/2026 | 134,000 | 122,877 |
4.42%, 5/8/2026 | 150,000 | 148,985 |
3.00%, 6/20/2027 | 16,000 | 15,153 |
2.90%, 9/12/2027 | 27,000 | 25,415 |
1.20%, 2/8/2028 | 5,000 | 4,360 |
1.40%, 8/5/2028 | 125,000 | 108,472 |
4.15%, 5/10/2030 | 63,000 | 61,784 |
1.25%, 8/20/2030 | 123,000 | 99,150 |
4.50%, 2/23/2036 | 50,000 | 49,509 |
3.45%, 2/9/2045 | 29,000 | 23,015 |
4.65%, 2/23/2046 | 153,000 | 144,415 |
2.65%, 2/8/2051 | 52,000 | 33,563 |
2.55%, 8/20/2060 | 99,000 | 61,684 |
Dell International LLC | ||
5.85%, 7/15/2025 | 46,000 | 46,238 |
6.02%, 6/15/2026 | 80,000 | 80,903 |
6.10%, 7/15/2027 | 50,000 | 51,044 |
5.30%, 10/1/2029 | 40,000 | 39,848 |
6.20%, 7/15/2030 | 2,000 | 2,081 |
8.10%, 7/15/2036 | 46,000 | 54,106 |
3.45%, 12/15/2051 | 43,000 | 28,657 |
HP, Inc. 6.00%, 9/15/2041 | 13,000 | 13,026 |
Western Digital Corp. 2.85%, 2/1/2029 | 98,000 | 79,954 |
1,307,260 | ||
Textiles, Apparel & Luxury Goods — 0.2% | ||
NIKE, Inc. | ||
2.40%, 3/27/2025 | 29,000 | 28,099 |
2.38%, 11/1/2026 | 59,000 | 55,317 |
3.88%, 11/1/2045 | 20,000 | 16,577 |
Ralph Lauren Corp. | ||
3.75%, 9/15/2025 | 50,000 | 48,602 |
2.95%, 6/15/2030 | 19,000 | 16,592 |
165,187 | ||
Tobacco — 1.4% | ||
Altria Group, Inc. | ||
4.40%, 2/14/2026 | 40,000 | 39,284 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Tobacco — continued | ||
2.45%, 2/4/2032 | 38,000 | 29,841 |
4.25%, 8/9/2042 | 29,000 | 22,249 |
4.50%, 5/2/2043 | 45,000 | 35,478 |
5.95%, 2/14/2049 | 46,000 | 44,784 |
4.45%, 5/6/2050 | 37,000 | 27,765 |
3.70%, 2/4/2051 | 2,000 | 1,335 |
4.00%, 2/4/2061 | 70,000 | 48,240 |
BAT Capital Corp. (United Kingdom) | ||
4.70%, 4/2/2027 | 64,000 | 62,464 |
4.39%, 8/15/2037 | 117,000 | 94,425 |
4.54%, 8/15/2047 | 67,000 | 49,060 |
5.28%, 4/2/2050 | 69,000 | 55,681 |
3.98%, 9/25/2050 | 15,000 | 10,076 |
5.65%, 3/16/2052 | 10,000 | 8,599 |
Philip Morris International, Inc. | ||
2.75%, 2/25/2026 | 18,000 | 17,076 |
4.88%, 2/15/2028 | 220,000 | 217,650 |
5.13%, 2/15/2030 | 131,000 | 129,266 |
5.75%, 11/17/2032 | 75,000 | 76,666 |
6.38%, 5/16/2038 | 8,000 | 8,604 |
4.38%, 11/15/2041 | 51,000 | 42,571 |
4.50%, 3/20/2042 | 10,000 | 8,502 |
Reynolds American, Inc. (United Kingdom) 4.45%, 6/12/2025 | 48,000 | 47,204 |
1,076,820 | ||
Trading Companies & Distributors — 0.5% | ||
Air Lease Corp. | ||
2.30%, 2/1/2025 | 66,000 | 63,221 |
3.25%, 3/1/2025 | 15,000 | 14,479 |
1.88%, 8/15/2026 | 13,000 | 11,760 |
2.20%, 1/15/2027 | 12,000 | 10,771 |
3.63%, 4/1/2027 | 9,000 | 8,428 |
3.13%, 12/1/2030 | 36,000 | 30,276 |
2.88%, 1/15/2032 | 185,000 | 150,108 |
GATX Corp. | ||
3.25%, 3/30/2025 | 12,000 | 11,598 |
3.50%, 6/1/2032 | 38,000 | 31,633 |
5.45%, 9/15/2033 | 7,000 | 6,703 |
6.05%, 3/15/2034 | 52,000 | 51,674 |
3.10%, 6/1/2051 | 26,000 | 15,697 |
WW Grainger, Inc. 3.75%, 5/15/2046 | 17,000 | 13,215 |
419,563 | ||
Water Utilities — 0.2% | ||
American Water Capital Corp. | ||
3.75%, 9/1/2028 | 38,000 | 35,811 |
2.80%, 5/1/2030 | 76,000 | 65,799 |
3.75%, 9/1/2047 | 18,000 | 13,646 |
4.20%, 9/1/2048 | 11,000 | 8,928 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Water Utilities — continued | ||
3.45%, 5/1/2050 | 2,000 | 1,418 |
Essential Utilities, Inc. 5.30%, 5/1/2052 | 15,000 | 13,311 |
138,913 | ||
Wireless Telecommunication Services — 1.5% | ||
Rogers Communications, Inc. (Canada) | ||
4.50%, 3/15/2042 | 92,000 | 75,811 |
5.45%, 10/1/2043 | 65,000 | 58,811 |
T-Mobile USA, Inc. | ||
3.50%, 4/15/2025 | 31,000 | 30,159 |
3.75%, 4/15/2027 | 142,000 | 135,451 |
2.05%, 2/15/2028 | 42,000 | 36,944 |
2.40%, 3/15/2029 | 97,000 | 84,278 |
3.38%, 4/15/2029 | 10,000 | 9,071 |
3.88%, 4/15/2030 | 218,000 | 200,193 |
3.50%, 4/15/2031 | 218,000 | 191,875 |
3.30%, 2/15/2051 | 54,000 | 36,141 |
3.60%, 11/15/2060 | 18,000 | 12,004 |
Vodafone Group plc (United Kingdom) | ||
4.38%, 5/30/2028 | 54,000 | 52,940 |
5.00%, 5/30/2038 | 137,000 | 130,553 |
5.13%, 6/19/2059 | 78,000 | 66,070 |
1,120,301 | ||
Total Corporate Bonds (Cost $78,191,614) | 75,436,097 | |
Asset-Backed Securities — 0.5% | ||
American Airlines Pass-Through Trust | ||
Series 2014-1, Class A, 3.70%, 10/1/2026 | 22,710 | 20,746 |
Series 2016-2, Class AA, 3.20%, 6/15/2028 | 48,790 | 43,697 |
FedEx Corp. Pass-Through Trust Series 2020-1, Class AA, 1.88%, 2/20/2034 | 180,510 | 145,386 |
United Airlines Pass-Through Trust | ||
Series 2016-2, Class AA, 2.88%, 10/7/2028 | 139,634 | 121,822 |
Series 2019-1, Class AA, 4.15%, 8/25/2031 | 75,604 | 67,779 |
Series 2019-2, Class AA, 2.70%, 5/1/2032 | 5,001 | 4,083 |
Total Asset-Backed Securities (Cost $401,676) | 403,513 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Short-Term Investments — 0.2% | ||
Investment Companies — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.28% (f) (g) (Cost $173,853) | 173,853 | 173,853 |
Total Investments — 98.9% (Cost $78,767,143) | 76,013,463 | |
Other Assets Less Liabilities — 1.1% | 818,075 | |
NET ASSETS — 100.0% | 76,831,538 |
Percentages indicated are based on net assets. |
Abbreviations | |
CME | Chicago Mercantile Exchange |
ICE | Intercontinental Exchange |
OYJ | Public Limited Company |
REIT | Real Estate Investment Trust |
SOFR | Secured Overnight Financing Rate |
SOFRINDX | Compounding index of the Secured Overnight Financing Rate |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
(a) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of November 30, 2023. | |
(b) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of November 30, 2023. | |
(c) | Contingent Capital security (“CoCo”). CoCos are hybrid debt securities that may be convertible into equity or may be written down if a pre-specified trigger event occurs. The total value of aggregate CoCo holdings at November 30, 2023 is $403,510 or 0.53% of the Fund’s net assets as of November 30, 2023. | |
(d) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of November 30, 2023. | |
(e) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(f) | 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. | |
(g) | The rate shown is the current yield as of November 30, 2023. |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 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 Fund 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 Fund. 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.
Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”). The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.
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.
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:
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Asset-Backed Securities | $— | $403,513 | $— | $403,513 |
Corporate Bonds | — | 75,436,097 | — | 75,436,097 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $173,853 | $— | $— | $173,853 |
Total Investments in Securities | $173,853 | $75,839,610 | $— | $76,013,463 |
B. Investment Transactions with Affiliates — The Fund invested in an Underlying Fund advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer. The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.
For the period ended November 30, 2023 | |||||||||
Security Description | Value at February 28, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at November 30, 2023 | Shares at November 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.28% (a) (b) | $265,119 | $2,675,587 | $2,766,853 | $— | $— | $173,853 | 173,853 | $7,848 | $— |
(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 November 30, 2023. |