JPMorgan Ultra-Short Municipal Income 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. |
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 Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — 92.1% (a) | ||
Alabama — 4.6% | ||
Alabama Federal Aid Highway Finance Authority | ||
Series 2015, Rev., 4.00%, 9/1/2024 (b) | 46,810,000 | 47,015,908 |
Series 2015, Rev., 5.00%, 9/1/2024 (b) | 330,000 | 333,845 |
Alabama Public School and College Authority Series 2014B, Rev., 5.00%, 1/1/2026 | 110,000 | 111,047 |
Alabama Public School and College Authority Capital improvement Series 2014-B, Rev., 5.00%, 1/1/2027 | 25,000 | 25,239 |
Alabama Public School and College Authority, Capital Improvement | ||
Series 2013A, Rev., 3.25%, 6/1/2024 | 40,000 | 40,001 |
Series 2014-B, Rev., 5.00%, 1/1/2025 | 75,000 | 75,842 |
Alabama Special Care Facilities Financing Authority-Birmingham Series 2015, Rev., 5.00%, 6/1/2024 | 300,000 | 302,463 |
Auburn University | ||
Series 2014A, Rev., 5.00%, 6/1/2024 | 220,000 | 221,999 |
Series 2014A, Rev., 5.00%, 6/1/2024 (b) | 60,000 | 60,519 |
Autauga County Board of Education Rev., 5.00%, 4/1/2024 | 30,000 | 30,124 |
Birmingham Airport Authority Rev., 5.00%, 7/1/2026 | 20,000 | 21,021 |
Black Belt Energy Gas District, Gas Prepay Project No. 4 Series 2019A-1, Rev., 4.00%, 12/1/2025 (c) | 40,000,000 | 39,762,932 |
Black Belt Energy Gas District, Gas Project No. 6 Series 2021B, Rev., 4.00%, 12/1/2026 (c) | 60,000 | 59,391 |
Black Belt Energy Gas District, Gas Supply Series 2022D-2, Rev., LIQ : Royal Bank of Canada, (SOFR + 1.40%), 4.97%, 12/8/2023 (d) | 25,575,000 | 25,657,646 |
City of Hoover, Warrants GO, 2.00%, 3/1/2025 | 30,000 | 29,354 |
City of Huntsville Series 2016D, GO, 5.00%, 5/1/2025 | 25,000 | 25,666 |
City of Huntsville, Warrants, Water Revenue Series 2015, Rev., 5.00%, 5/1/2025 (b) | 1,400,000 | 1,437,285 |
City of Tuscaloosa Series 2019A, GO, 4.00%, 7/1/2024 | 35,000 | 35,184 |
County of Mobile, Warrants GO, 5.00%, 8/1/2025 (b) | 25,000 | 25,775 |
Industrial Development Board of The City of Mobile, Alabama Power Control, Barry Plant Project Series 2007A, Rev., 1.00%, 6/26/2025 (c) | 100,000 | 95,913 |
Limestone County Water And Sewer Authority Series 2014B, Rev., 5.00%, 12/1/2023 (b) | 250,000 | 250,000 |
Limestone County Water and Sewer Authority Series 2014B, Rev., 4.00%, 12/1/2023 (b) | 30,000 | 30,000 |
Montgomery Water Works and Sanitary Sewer Board Series 2019-A, Rev., 5.00%, 9/1/2025 | 35,000 | 36,158 |
Southeast Alabama Gas Supply District (The), Project No. 1 Series 2018A, Rev., 4.00%, 4/1/2024 (c) | 245,000 | 244,706 |
Southeast Energy Authority A Cooperative District, Project No. 4 Series 2022B-1, Rev., 5.00%, 8/1/2024 | 1,160,000 | 1,166,443 |
University of Alabama (The) | ||
Series 2012-A, Rev., 5.00%, 7/1/2024 | 310,000 | 310,398 |
Series 2014B, Rev., 5.00%, 7/1/2024 (b) | 50,000 | 50,520 |
Series 2017A, Rev., 5.00%, 7/1/2024 | 20,000 | 20,201 |
Total Alabama | 117,475,580 | |
Alaska — 0.6% | ||
Alaska Housing Finance Corp. | ||
Series 2017A-II, Rev., 5.00%, 12/1/2023 | 50,000 | 50,000 |
Series 2014D-II, Rev., 5.00%, 12/1/2024 | 2,800,000 | 2,843,781 |
Alaska Housing Finance Corp., General Mortgage Series 2019A, Rev., 1.50%, 6/1/2024 | 305,000 | 299,479 |
Alaska Municipal Bond Bank Authority | ||
Series 2020 ONE, Rev., 5.00%, 12/1/2023 | 150,000 | 150,000 |
Series 2012-2, Rev., 5.00%, 9/1/2024 | 60,000 | 60,075 |
Series 1, Rev., 5.00%, 12/1/2024 | 190,000 | 193,101 |
Series 1, Rev., 5.00%, 12/1/2025 | 220,000 | 227,472 |
Rev., 5.00%, 12/1/2026 | 25,000 | 26,343 |
Borough of Matanuska-Susitna | ||
Rev., 5.25%, 9/1/2027 | 1,845,000 | 1,900,014 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Alaska — continued | ||
Series 2015, Rev., 5.25%, 9/1/2028 | 3,000,000 | 3,088,428 |
Borough of Matanuska-Susitna, Goose Creek Correctional Center Project | ||
Rev., 5.00%, 9/1/2024 | 560,000 | 566,484 |
Rev., 5.00%, 9/1/2025 | 260,000 | 267,353 |
Rev., 5.25%, 9/1/2026 | 135,000 | 139,049 |
Borough of North Slope Series 2020A, GO, 5.00%, 6/30/2025 | 60,000 | 61,700 |
City of Anchorage Series 2014A, Rev., 5.00%, 12/1/2024 (b) | 4,575,000 | 4,649,671 |
City of Anchorage Electric Series 2014A, Rev., 5.00%, 12/1/2024 (b) | 325,000 | 330,305 |
Municipality of Anchorage Series 2020 E, GO, 5.00%, 4/1/2024 | 20,000 | 20,121 |
State of Alaska Series 2016B, GO, 5.00%, 8/1/2028 | 40,000 | 41,171 |
Total Alaska | 14,914,547 | |
Arizona — 2.6% | ||
Arizona Department of Transportation State Highway Fund Series 2015, Rev., 5.00%, 7/1/2024 (b) | 50,000 | 50,448 |
Arizona Health Facilities Authority | ||
Series 2015 B, Rev., VRDO, (SIFMA Municipal Swap Index Yield + 0.25%), 3.23%, 12/14/2023 (b) (c) | 1,500,000 | 1,500,000 |
Series 2015 B, Rev., (SIFMA Municipal Swap Index Yield + 0.25%), 3.23%, 12/14/2023 (d) | 7,900,000 | 7,764,054 |
Series 2014A, Rev., 5.00%, 12/1/2026 | 50,000 | 50,727 |
Arizona Health Facilities Authority, Banner Health Series 2015 A, Rev., 5.00%, 1/1/2024 | 50,000 | 50,059 |
Arizona Health Facilities Authority, Phoenix Children's Hospitals Series 2013B, Rev., 5.00%, 2/1/2026 | 1,065,000 | 1,065,557 |
Arizona Industrial Development Authority Series 2021A, Rev., 5.00%, 2/1/2024 | 1,450,000 | 1,453,565 |
Arizona Industrial Development Authority, Equitable School Revolving Fund LLC Series 2019A, Rev., 5.00%, 11/1/2024 | 95,000 | 96,103 |
Arizona State University Series 2015B, Rev., 5.00%, 7/1/2026 | 45,000 | 46,357 |
Arizona Transportation Board, Excise Tax, Maricopa County Regional Area Road Fund Rev., 5.00%, 7/1/2025 | 40,000 | 41,260 |
Chandler Industrial Development Authority, Intel Corp. Project Series 2019, Rev., AMT, 5.00%, 6/3/2024 (c) | 5,000,000 | 5,015,036 |
City of Buckeye, Excise Tax Series 2015, Rev., 5.00%, 7/1/2024 | 25,000 | 25,259 |
City of Goodyear Water and Sewer Rev., AGM, 5.00%, 7/1/2024 | 25,000 | 25,251 |
City of Mesa Series 2013, Rev., 5.00%, 7/1/2024 | 110,000 | 111,075 |
City of Phoenix Series 2014, GO, 4.00%, 7/1/2024 | 35,000 | 35,164 |
City of Phoenix Civic Improvement Corp., Junior Lien Wastewater System Series 2016, Rev., 5.00%, 7/1/2024 | 20,000 | 20,209 |
City of Phoenix Civic Improvement Corp., Junior Lien, Wastewater System Rev., 5.00%, 7/1/2024 | 230,000 | 230,307 |
City of Scottsdale Series 2015, GO, 4.00%, 7/1/2024 | 35,000 | 35,174 |
County of Maricopa Series 2018A, COP, 5.00%, 7/1/2024 | 795,000 | 803,175 |
County of Navajo Rev., 4.00%, 7/1/2025 | 20,000 | 20,254 |
County of Pima Series 2020B, COP, 5.00%, 12/1/2023 | 115,000 | 115,000 |
County of Pima Sewer System Rev., 5.00%, 7/1/2024 | 25,000 | 25,270 |
County of Yuma Rev., 5.00%, 7/15/2024 | 100,000 | 101,087 |
Maricopa County Elementary School District No. 45 Fowler Series 2019D, GO, 5.00%, 7/1/2024 | 125,000 | 126,257 |
Maricopa County Industrial Development Authority, Banner Health | ||
Series C, Rev., 5.00%, 10/18/2024 (c) | 150,000 | 151,966 |
Series 2023A-1, Rev., 5.00%, 5/15/2026 (c) | 5,230,000 | 5,428,809 |
Maricopa County Unified School District No. 41 Gilbert Series 2019C, GO, 5.00%, 7/1/2024 | 65,000 | 65,724 |
Maricopa County Unified School District No. 69 Paradise Valley Series 2018D, GO, 5.00%, 7/1/2024 | 85,000 | 85,874 |
Maricopa County Unified School District No. 95 Queen Creek Series 2018, GO, 5.00%, 7/1/2024 | 25,000 | 25,273 |
Maricopa County Unified School District No. 97-Deer Valley Series 2020A, GO, 5.00%, 7/1/2024 | 25,000 | 25,251 |
Pima County Regional Transportation Authority, Excise Tax | ||
Rev., 5.00%, 6/1/2024 | 60,000 | 60,563 |
Series 2014, Rev., 5.00%, 6/1/2025 | 330,000 | 330,390 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Arizona — continued | ||
RBC Municipal Products, Inc. Trust, Floater Certificates Series E-147, Rev., VRDO, LOC : Royal Bank of Canada, 3.33%, 12/13/2023 (c) (e) | 11,000,000 | 11,000,000 |
Salt River Project Agricultural Improvement & Power District Series 2016 A, Rev., 5.00%, 1/1/2024 | 35,000 | 35,048 |
Salt River Project Agricultural Improvement and Power District Series 2015A, Rev., 5.00%, 12/1/2045 | 29,000,000 | 29,758,956 |
Scottsdale Municipal Property Corp. Series 2015, Rev., 5.00%, 7/1/2025 (b) | 30,000 | 30,926 |
State of Arizona Series 2019A, COP, 5.00%, 10/1/2025 (b) | 40,000 | 41,380 |
Tempe Industrial Development Authority, Friendship Village of Tempe Project Series 2021C-2, Rev., 1.13%, 12/1/2026 | 665,000 | 665,000 |
Total Arizona | 66,511,808 | |
Arkansas — 0.2% | ||
University of Arkansas, Various Facilities Fayetteville Series 2015A, Rev., 5.00%, 11/1/2024 (b) | 6,060,000 | 6,158,113 |
University of Central Arkansas, Student Fee Series 2020A, Rev., 5.00%, 11/1/2026 | 75,000 | 78,591 |
Total Arkansas | 6,236,704 | |
California — 1.6% | ||
Alameda County Joint Powers Authority, Multiple Capital Projects Series 2013A, Rev., 5.00%, 12/1/2023 | 50,000 | 50,000 |
Antelope Valley Community College District GO, 5.00%, 2/15/2025 (b) | 70,000 | 71,641 |
Brentwood Infrastructure Financing Authority, Civic Center Project Rev., 5.00%, 10/1/2024 | 40,000 | 40,567 |
California County Tobacco Securitization Agency, Gold Country Settlement Funding Corp. Series 2020A, Rev., 5.00%, 6/1/2026 | 1,090,000 | 1,124,216 |
California Health Facilities Financing Authority Series 2017, Rev., 5.00%, 2/1/2025 | 30,000 | 30,581 |
California Health Facilities Financing Authority, Adventist Health System | ||
Series 2011A, Rev., 3.00%, 3/1/2024 (c) | 480,000 | 478,822 |
Series 2013A, Rev., 5.00%, 3/1/2024 | 110,000 | 110,069 |
California Health Facilities Financing Authority, Cedars-Sinai Medical Center Rev., 5.00%, 11/15/2024 | 375,000 | 382,092 |
California Health Facilities Financing Authority, Providence St. Joseph Health Series 2016B-2, Rev., 4.00%, 10/1/2024 (c) | 275,000 | 275,697 |
California Health Facilities Financing Authority, St. Joseph Health System | ||
Series 2013 A, Rev., 5.00%, 7/1/2025 | 105,000 | 105,068 |
Series 2019C, Rev., 5.00%, 10/1/2025 (c) | 420,000 | 431,023 |
Series 2013A, Rev., 5.00%, 7/1/2026 | 80,000 | 80,100 |
California Infrastructure and Economic Development Bank, Colburn School (The) Rev., (SIFMA Municipal Swap Index Yield + 0.90%), 3.88%, 12/14/2023 (d) | 28,500,000 | 28,023,309 |
California Infrastructure and Economic Development Bank, The Broad Sustainability Bonds Series 2018C, Rev., (SIFMA Municipal Swap Index Yield + 0.35%), 3.33%, 12/14/2023 (d) | 5,250,000 | 5,210,600 |
California State Public Works Board, Various Capital Projects Series 2013I, Rev., 5.00%, 1/2/2024 | 40,000 | 40,041 |
California Statewide Communities Development Authority, Southern California Edison Co. Series D, Rev., VRDO, 2.63%, 12/1/2023 (c) | 290,000 | 290,000 |
Chula Vista Municipal Financing Authority Rev., 5.00%, 5/1/2024 | 10,000 | 10,075 |
City of Long Beach Harbor, Private Activity Series 2020A, Rev., 4.00%, 5/15/2024 | 20,000 | 20,090 |
City of Los Angeles Department of Airports, International Airport Subordinate Series 2018E, Rev., 5.00%, 5/15/2024 | 15,000 | 15,136 |
City of Los Angeles, Wastewater System | ||
Series 2013-A, Rev., 5.00%, 6/1/2025 | 75,000 | 75,117 |
Series 2013A, Rev., 5.00%, 6/1/2026 | 50,000 | 50,024 |
Series 2013A, Rev., 5.00%, 6/1/2027 | 75,000 | 75,038 |
City of Petaluma Series 2019, Rev., 5.00%, 5/1/2024 | 30,000 | 30,218 |
City of Roseville, Water Utility COP, 5.00%, 12/1/2023 | 50,000 | 50,000 |
City of San Francisco, Public Utilities Commission Water Series 2017A, Rev., 5.00%, 11/1/2024 (b) | 30,000 | 30,564 |
City of Vernon, Electric System Series 2021A, Rev., 5.00%, 10/1/2025 | 200,000 | 203,404 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
California — continued | ||
Colton Joint Unified School District, Election of 2008 Series 2010B, GO, AGM, 5.80%, 8/21/2026 (b) | 25,000 | 26,903 |
Grossmont Healthcare District Series C, GO, 5.00%, 7/15/2024 | 25,000 | 25,215 |
Hermosa Beach Public Financing Authority Rev., 4.00%, 11/1/2024 | 25,000 | 25,192 |
Los Angeles County Facilities, Inc., Vermont Corridor County Administration Building Series 2018A, Rev., 5.00%, 12/1/2023 | 80,000 | 80,000 |
Los Angeles County Public Works Financing Authority Series 2019E1, Rev., 4.00%, 12/1/2023 | 85,000 | 85,000 |
Merced Union High School District GO, AGM, Zero Coupon, 2/18/2025 (b) | 350,000 | 108,226 |
Orange County Water District Series 2021A, COP, 4.00%, 2/15/2025 | 175,000 | 176,895 |
Padre Dam Municipal Water District Series 2017A, COP, 5.00%, 10/1/2024 | 50,000 | 50,749 |
Palomar Community College District GO, 5.00%, 5/1/2024 | 50,000 | 50,421 |
Pismo Beach Public Financing Agency, Beach Municipal Pier Project Rev., 5.00%, 12/1/2023 | 30,000 | 30,000 |
Sacramento County Sanitation Districts Financing Authority Series 2014A, Rev., 5.00%, 12/1/2023 | 35,000 | 35,000 |
Sacramento Municipal Utility District, Electric Series 2019B, Rev., 5.00%, 10/15/2025 (c) | 335,000 | 342,701 |
San Francisco City and County Airport Commission, San Francisco International Airport | ||
Series 2019D, Rev., 5.00%, 5/1/2024 (b) | 45,000 | 45,348 |
Series 2016A, Rev., 4.00%, 5/1/2025 | 25,000 | 25,379 |
San Joaquin Hills Transportation Corridor Agency, Toll Road, Senior Lien Series 1993, Rev., Zero Coupon, 1/1/2025 (b) | 120,000 | 115,973 |
San Juan Water District Rev., 5.00%, 2/1/2025 | 45,000 | 45,939 |
Sanger Public Financing Authority Series 2014, Rev., AGM, 4.00%, 6/15/2024 (b) | 20,000 | 20,502 |
Sequoia Union High School District GO, 5.00%, 7/1/2024 (b) | 40,000 | 40,485 |
Southern California Public Power Authority, Windy Point/Windy Flats Project Series 2020-1, Rev., 5.00%, 1/1/2024 | 115,000 | 115,154 |
State of California | ||
GO, 5.00%, 12/13/2023 | 30,000 | 30,012 |
GO, 5.00%, 2/12/2024 | 85,000 | 85,272 |
GO, 5.00%, 12/1/2025 | 35,000 | 35,045 |
State of California Department of Water Resources Series AS, Rev., 5.00%, 12/1/2023 | 20,000 | 20,000 |
State of California Department of Water Resources, Central Valley Project, Water System Series AW, Rev., 5.00%, 12/1/2023 | 45,000 | 45,000 |
State of California, Various Purpose | ||
GO, 5.00%, 12/1/2023 | 60,000 | 60,000 |
GO, 5.00%, 12/13/2023 | 135,000 | 135,055 |
GO, 5.00%, 10/1/2025 | 1,705,000 | 1,766,893 |
Tahoe-Truckee Sanitation Agency, Wastewater Rev., 5.00%, 7/1/2024 | 30,000 | 30,336 |
Tobacco Securitization Authority of Southern California Series 2019A, Class 1, Rev., 5.00%, 6/1/2025 | 55,000 | 56,020 |
Tustin Unified School District, School Facilities Improvement Districts No. 2002-1 and 2008-1 GO, 5.00%, 8/1/2025 | 30,000 | 31,059 |
Twin Rivers Unified School District Series 2014A, GO, Zero Coupon, 2/1/2024 (b) | 350,000 | 170,616 |
Ventura County Public Financing Authority Series 2016A, Rev., 5.00%, 11/1/2024 | 25,000 | 25,425 |
West Hollywood Public Financing Authority, Hollywood Park Phase II Rev., 5.00%, 4/1/2024 | 75,000 | 75,431 |
Total California | 41,314,738 | |
Colorado — 1.9% | ||
Adams & Weld Counties School District No. 27J Brighton Series A, GO, 5.00%, 12/1/2023 | 90,000 | 90,000 |
Adams 12 Five Star Schools Series 2014B, GO, 5.00%, 12/15/2024 | 20,000 | 20,399 |
Adams 12 Five Star Schools, The City and County of Broomfield | ||
GO, 4.00%, 12/15/2023 | 100,000 | 100,026 |
GO, 5.00%, 12/15/2024 | 30,000 | 30,043 |
Apex Park and Recreation District GO, 3.00%, 12/1/2024 | 50,000 | 49,957 |
Arapahoe County School District No. 6 Littleton Series 2019A, GO, 5.00%, 12/1/2023 | 160,000 | 160,000 |
Aspen Fire Protection District COP, 4.00%, 12/1/2023 | 125,000 | 125,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Colorado — continued | ||
Board of Governors of Colorado State University System Series 2015A, Rev., 5.00%, 3/1/2025 (b) | 45,000 | 46,072 |
Boulder Larimer and Weld Counties St. Vrain Valley School District Re1J Series 2014A, GO, 5.00%, 12/15/2023 | 40,000 | 40,022 |
City & County of Broomfield COP, 5.00%, 12/1/2023 | 20,000 | 20,000 |
City & County of Broomfield Sales and Use Tax Series 2017, Rev., 5.00%, 12/1/2024 | 40,000 | 40,727 |
City & County of Denver Airport System | ||
Series B, Rev., 5.00%, 2/16/2024 | 10,300,000 | 10,323,556 |
Series B, Rev., 5.25%, 2/16/2024 | 2,760,000 | 2,767,666 |
Series 2016 A, Rev., 5.00%, 11/15/2025 | 30,000 | 31,154 |
Series 2023B, Rev., AMT, 5.00%, 11/15/2026 | 4,700,000 | 4,887,292 |
Series 2023B, Rev., AMT, 5.00%, 11/15/2027 | 2,000,000 | 2,110,627 |
City and County of Broomfield, Sales and Use Tax Series A, Rev., 5.00%, 12/1/2024 | 180,000 | 180,251 |
City and County of Denver, Airport System | ||
Series B, Rev., 5.25%, 2/16/2024 | 25,000 | 25,069 |
Series B, Rev., 5.00%, 11/15/2024 | 125,000 | 127,200 |
City of Arvada Series 2019, Rev., 5.00%, 12/1/2024 | 25,000 | 25,447 |
City of Aurora COP, 5.00%, 12/1/2023 | 80,000 | 80,000 |
City of Colorado Springs, Colorado Utilities System Series 2020 C, Rev., 5.00%, 11/15/2024 | 20,000 | 20,350 |
City of Northglenn Series 2017, COP, 5.00%, 12/1/2024 | 70,000 | 71,239 |
Colorado Health Facilities Authority | ||
Series C, Rev., 5.00%, 12/1/2023 | 800,000 | 800,000 |
Series 2019A-1, Rev., 5.00%, 8/1/2025 | 175,000 | 178,492 |
Series 2019A-1, Rev., 5.00%, 8/1/2026 | 245,000 | 253,847 |
Series 2016C, Rev., 5.00%, 11/15/2026 (c) | 165,000 | 173,131 |
Series 2019B, Rev., 5.00%, 11/19/2026 (b) | 590,000 | 624,706 |
Series 2019B, Rev., 5.00%, 11/19/2026 (c) | 1,280,000 | 1,343,376 |
Series C, Rev., 5.00%, 12/1/2026 | 20,000 | 20,828 |
Colorado Health Facilities Authority, Adventist Health System/Sunbelt Obligated Group Series 2018B, Rev., 5.00%, 11/20/2025 (c) | 570,000 | 586,392 |
Colorado Health Facilities Authority, Children's Hospital Colorado Project Series C, Rev., 5.00%, 12/1/2024 | 75,000 | 76,085 |
Colorado Health Facilities Authority, CommonSpirit Health | ||
Series 2019B-2, Rev., 5.00%, 8/1/2026 (c) | 1,195,000 | 1,228,204 |
Series 2019A-2, Rev., 5.00%, 8/1/2027 | 5,000,000 | 5,250,275 |
Colorado Health Facilities Authority, CommonSpirit Health Obligated Group | ||
Series 2022A, Rev., 5.00%, 11/1/2024 | 190,000 | 191,952 |
Series 2022A, Rev., 5.00%, 11/1/2028 | 700,000 | 747,862 |
Colorado Health Facilities Authority, NCMC, Inc., Project Rev., 4.00%, 5/15/2026 (b) | 280,000 | 285,263 |
Colorado Health Facilities Authority, School Health System Series 2019A, Rev., 5.00%, 1/1/2025 | 1,210,000 | 1,232,024 |
Colorado Health Facilities Authority, SCL Health System | ||
Series 2013A, Rev., 5.00%, 1/1/2024 (b) | 40,000 | 40,050 |
Series 2019 A, Rev., 5.00%, 1/1/2024 | 35,000 | 35,041 |
Colorado Health Facilities Authority, The Evangelical Lutheran Good Samaritan Society Project Series 2015A, Rev., 5.00%, 6/1/2024 (b) | 200,000 | 201,632 |
Colorado Higher Education COP, 5.00%, 9/1/2024 | 65,000 | 65,872 |
Colorado Higher Education, Capital Construction, Lease Purchase Financing Program Series 2014A, COP, 5.00%, 11/1/2025 | 25,000 | 25,949 |
County of Adams COP, 5.00%, 12/1/2023 | 860,000 | 860,000 |
County of Boulder Series 2021A, COP, 5.00%, 12/1/2024 | 25,000 | 25,430 |
County of Jefferson COP, 5.00%, 12/1/2023 | 20,000 | 20,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Colorado — continued | ||
Denver City & County School District No. 1 Series 2017, GO, 5.00%, 12/1/2023 | 55,000 | 55,000 |
Denver Convention Center Hotel Authority Rev., 5.00%, 12/1/2023 | 30,000 | 30,000 |
Denver Health & Hospital Authority Series 2017A, Rev., 5.00%, 12/1/2023��(e) | 4,530,000 | 4,530,000 |
E-470 Public Highway Authority Series 2020 A, Rev., 5.00%, 9/1/2026 | 75,000 | 79,021 |
Eagle County School District No. Re50J GO, 3.00%, 12/1/2023 (b) | 20,000 | 20,000 |
El Paso County Facilities Corp. Series 2011A, COP, 4.00%, 12/1/2023 | 25,000 | 25,000 |
El Paso County School District No. 20 Academy Series 2017, GO, 5.00%, 12/15/2023 | 20,000 | 20,011 |
El Paso County School District No. 38 Lewis-Palmer Series 2012, GO, 5.00%, 12/1/2024 | 375,000 | 382,004 |
El Paso County School District No. 49 Falcon | ||
COP, 5.00%, 12/15/2023 | 75,000 | 75,038 |
Series 2017B, COP, 5.00%, 12/15/2023 | 85,000 | 85,043 |
Jefferson County School District R-1 GO, 5.00%, 12/15/2023 | 20,000 | 20,010 |
Larimer Weld and Boulder County School District, R-2J Thompson GO, 4.00%, 12/15/2023 | 35,000 | 35,007 |
Mesa County Valley School District No. 51 Grand Junction GO, 5.00%, 12/1/2023 | 75,000 | 75,000 |
Regional Transportation District COP, 5.00%, 12/28/2023 | 200,000 | 200,233 |
Regional Transportation District, Denver Transit Partners | ||
Series 2020A, Rev., 5.00%, 1/15/2024 | 475,000 | 475,358 |
Series 2020A, Rev., 5.00%, 7/15/2025 | 45,000 | 45,927 |
Serenity Ridge Metropolitan District No. 2, Limited Tax Series 2018B, GO, 7.25%, 12/15/2023 (b) | 636,000 | 655,722 |
State of Colorado | ||
Series 2018A, COP, 5.00%, 12/15/2023 | 90,000 | 90,048 |
Series 2020A, COP, 5.00%, 12/15/2023 | 45,000 | 45,024 |
Series 2021A, COP, 5.00%, 12/15/2023 | 200,000 | 200,107 |
Series 2013I, COP, 5.00%, 3/15/2024 | 30,000 | 30,153 |
Series 2019O, COP, 5.00%, 3/15/2024 | 20,000 | 20,102 |
COP, 6.00%, 12/15/2024 | 35,000 | 36,026 |
Series 2018L, COP, 5.00%, 3/15/2027 | 25,000 | 26,602 |
State of Colorado Department of Transportation COP, 5.00%, 6/15/2024 | 40,000 | 40,371 |
Town of Castle Rock, Sales and Use Tax Rev., 5.00%, 6/1/2025 | 25,000 | 25,684 |
University of Colorado Hospital Authority, Health System Series 2019C, Rev., 5.00%, 11/15/2024 (c) | 50,000 | 50,298 |
University of Colorado, Enterprise System | ||
Series B-1, Rev., 4.00%, 6/1/2024 (b) | 25,000 | 25,095 |
Series A, Rev., 5.00%, 6/1/2024 (b) | 60,000 | 60,519 |
Series A, Rev., 5.00%, 6/1/2025 (b) | 30,000 | 30,851 |
Series 2021C-3B, Rev., 2.00%, 10/15/2026 (c) | 6,250,000 | 5,946,152 |
Total Colorado | 49,073,914 | |
Connecticut — 0.1% | ||
Connecticut State Health & Educational Facilities Authority., Yale New Heaven Health Series A, Rev., 5.00%, 7/1/2026 | 75,000 | 75,583 |
Connecticut State Health and Educational Facilities Authority, Trinity Health Credit Group Series 2016CT, Rev., 3.00%, 12/1/2023 | 100,000 | 100,000 |
Connecticut State Health and Educational Facilities Authority, University System Issue Series L, Rev., 3.00%, 11/1/2026 | 120,000 | 119,469 |
Connecticut State Health and Educational Facilities Authority, Yale New Haven Health Issue Series 2010A3, Rev., 0.25%, 2/9/2024 (c) | 950,000 | 943,779 |
Connecticut State Health and Educational Facilities Authority, Yale University Series X-2, Rev., 0.25%, 2/9/2024 (c) | 635,000 | 630,842 |
South Central Connecticut Regional Water Authority Series 29, Rev., 5.00%, 8/1/2024 | 65,000 | 65,085 |
State of Connecticut | ||
Series 2020 B, GO, 5.00%, 1/15/2024 | 200,000 | 200,422 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Connecticut — continued | ||
Series A, GO, 5.00%, 4/15/2024 | 35,000 | 35,241 |
Series F, GO, 5.00%, 11/15/2024 | 25,000 | 25,461 |
State of Connecticut, SIFMA Index Series 2013A, GO, (SIFMA Municipal Swap Index Yield + 0.99%), 3.97%, 12/14/2023 (d) | 175,000 | 175,622 |
State of Connecticut, Special Tax Transportation Infrastructure Purposes | ||
Series 2018A, Rev., 5.00%, 1/1/2024 | 20,000 | 20,027 |
Series 2013, Rev., 5.00%, 1/29/2024 | 95,000 | 95,238 |
Series 2018 B, Rev., 5.00%, 10/1/2024 | 75,000 | 76,185 |
Series 2018C, Rev., 5.00%, 10/1/2024 | 85,000 | 86,344 |
University of Connecticut | ||
Series 2013A, Rev., 5.00%, 2/15/2024 | 120,000 | 120,147 |
Series A, Rev., 5.00%, 2/16/2024 | 70,000 | 70,238 |
Series 2015A, Rev., 5.00%, 2/15/2026 | 25,000 | 25,534 |
Total Connecticut | 2,865,217 | |
Delaware — 0.0% ^ | ||
County of New Castle GO, 5.00%, 4/1/2024 | 25,000 | 25,154 |
Delaware River and Bay Authority | ||
Series C, Rev., 5.00%, 1/1/2025 | 35,000 | 35,045 |
Series C, Rev., 5.00%, 1/1/2027 | 85,000 | 85,103 |
Delaware State Economic Development Authority, Delmarva Power and Light Co. Project Series 2020A, Rev., 1.05%, 7/1/2025 (c) | 715,000 | 682,405 |
Total Delaware | 827,707 | |
District of Columbia — 1.3% | ||
District of Columbia | ||
Series 2015, Rev., 5.00%, 7/15/2025 | 110,000 | 112,596 |
Series 2015, Rev., 5.00%, 7/15/2027 | 155,000 | 160,024 |
District of Columbia Housing Finance Agency, Multifamily Housing Series 2023, Rev., FHA, 5.00%, 6/1/2026 (c) | 5,900,000 | 6,038,712 |
District of Columbia Housing Finance Agency, Paxton Project Series 2022, Rev., 4.00%, 9/1/2025 (c) | 4,045,000 | 4,057,328 |
District of Columbia, Children's Hospital Series 2015, Rev., 5.00%, 7/15/2024 | 675,000 | 680,242 |
District of Columbia, Children's Hospital Obligated Group Series 2015, Rev., 5.00%, 7/15/2028 | 50,000 | 51,568 |
District of Columbia, Federal Highway Rev., 5.00%, 12/1/2024 | 320,000 | 320,414 |
District of Columbia, Gallery Place Project Rev., 5.00%, 6/1/2024 | 100,000 | 100,139 |
District of Columbia, National Public Radio, Inc. Rev., 5.00%, 4/1/2024 (b) | 100,000 | 100,594 |
District of Columbia, Water and Sewer Authority, Public Utility, Subordinate Lien Series 2014C, Rev., 5.00%, 10/1/2024 | 25,000 | 25,385 |
Metropolitan Washington Airports Authority Aviation | ||
Series 2010C-2, Rev., VRDO, LOC : TD Bank NA, 2.95%, 12/13/2023 (c) | 20,000,000 | 20,000,000 |
Series 2019 B, Rev., 5.00%, 10/1/2026 | 30,000 | 31,751 |
Metropolitan Washington Airports Authority Aviation System Series 2014A, Rev., AMT, 5.00%, 10/1/2028 | 365,000 | 366,812 |
Washington Metropolitan Area Transit Authority | ||
Series 2017B, Rev., 5.00%, 7/1/2024 | 95,000 | 96,037 |
Series A-1, Rev., 5.00%, 7/1/2024 | 40,000 | 40,436 |
Series A-1, Rev., 5.00%, 7/1/2027 | 50,000 | 53,480 |
Total District of Columbia | 32,235,518 | |
Florida — 5.0% | ||
Alachua County School Board COP, AGM, 5.00%, 7/1/2027 | 20,000 | 21,301 |
Brevard County Health Facilities Authority, Health First, Inc., Project Rev., 5.00%, 4/1/2039 | 500,000 | 501,830 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Florida — continued | ||
Brevard County School District | ||
Series C, COP, 5.00%, 7/1/2026 | 75,000 | 77,041 |
Series 2014, COP, 5.00%, 7/1/2027 | 260,000 | 262,288 |
COP, 5.00%, 7/1/2028 | 65,000 | 65,550 |
Capital Trust Agency, Inc., Sustainability Bonds -The Marie | ||
Rev., 4.00%, 6/15/2024 (e) | 1,000,000 | 993,990 |
Rev., 4.00%, 6/15/2025 (e) | 340,000 | 333,822 |
Central Florida Expressway Authority | ||
Series 2016 B, Rev., 5.00%, 7/1/2027 | 80,000 | 83,599 |
Series 2016 B, Rev., 5.00%, 7/1/2028 | 60,000 | 62,563 |
Central Florida Expressway Authority, Senior Lien | ||
Series 2017, Rev., 5.00%, 7/1/2024 | 75,000 | 75,754 |
Series 2016B, Rev., 5.00%, 7/1/2025 | 80,000 | 82,333 |
Series 2016 B, Rev., 5.00%, 7/1/2026 | 35,000 | 36,733 |
Central Florida Tourism Oversight District Series 2017A, GO, 5.00%, 6/1/2025 | 100,000 | 102,529 |
City of Clearwater, Water and Sewer Rev., 5.00%, 12/1/2023 | 50,000 | 50,000 |
City of Gainesville Series 2017 A, Rev., 5.00%, 10/1/2028 | 20,000 | 21,547 |
City of Gainesville, Utilities System Series 2017A, Rev., 5.00%, 10/1/2024 | 95,000 | 96,346 |
City of Jacksonville | ||
Series 2013A, Rev., 5.00%, 12/12/2023 | 50,000 | 50,019 |
Series 2016, Rev., 5.00%, 10/1/2025 | 25,000 | 25,921 |
Series B, Rev., 5.00%, 10/1/2025 (b) | 75,000 | 77,520 |
City of Lakeland, Department of Electric Utilities Rev., 5.00%, 10/1/2026 | 20,000 | 20,805 |
City of Miami Gardens, Florida General Series 2014, GO, 5.00%, 7/1/2024 (b) | 50,000 | 50,506 |
City of Orlando | ||
Series 2014A, Rev., 5.25%, 5/1/2024 (b) | 25,000 | 25,203 |
Series 2018 B, Rev., 5.00%, 10/1/2024 | 35,000 | 35,510 |
City of Orlando, Capital Improvement Series 2016B, Rev., 5.00%, 10/1/2024 | 125,000 | 126,822 |
City of Orlando, Florida Contract Tourist Development Tax Payments Series 2014A, Rev., 5.00%, 5/1/2024 (b) | 20,000 | 20,142 |
City of South Miami Health Facilities Authority, Inc., Baptist Health South Florida Obligated Group Rev., 5.00%, 8/15/2028 | 45,000 | 47,948 |
City of Tallahassee, Energy System Series 2020, Rev., 5.00%, 10/1/2027 | 65,000 | 69,915 |
County of Broward, Airport System | ||
Series Q-1, Rev., 5.00%, 10/1/2024 | 430,000 | 430,429 |
Series Q-1, Rev., 5.00%, 10/1/2025 | 195,000 | 195,200 |
Series 2013C, Rev., 5.25%, 10/1/2026 | 100,000 | 100,072 |
County of Hillsborough, Communications Services Tax Rev., 5.00%, 10/1/2024 | 35,000 | 35,542 |
County of Hillsborough, Community Investment Tax Rev., 5.00%, 11/1/2025 | 25,000 | 25,888 |
County of Lee Series A, Rev., 5.00%, 10/1/2024 | 145,000 | 145,192 |
County of Lee FL Transportation Facilities Revenue Series 2014, Rev., AGM, 5.00%, 10/1/2027 | 2,550,000 | 2,576,282 |
County of Lee, Tourist Development Tax Series 2019A, Rev., 5.00%, 10/1/2024 | 25,000 | 25,371 |
County of Lee, Transportation Facilities Rev., AGM, 5.00%, 10/1/2024 | 1,500,000 | 1,518,189 |
County of Miami-Dade | ||
Series 2019B, Rev., 5.00%, 4/1/2024 | 115,000 | 115,691 |
Series A, Rev., 5.00%, 10/1/2025 | 260,000 | 268,220 |
Rev., 5.00%, 7/1/2026 | 25,000 | 25,641 |
Series 2015B, GO, 5.00%, 7/1/2026 | 270,000 | 272,977 |
Series B, Rev., 5.00%, 10/1/2026 | 160,000 | 163,250 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Florida — continued | ||
Series 2016B, Rev., 5.00%, 4/1/2027 | 175,000 | 181,681 |
Series A, Rev., 5.00%, 10/1/2027 | 115,000 | 120,556 |
GO, 5.00%, 7/1/2028 | 20,000 | 20,951 |
Series A, Rev., 5.00%, 10/1/2028 | 155,000 | 161,946 |
County of Miami-Dade, Aviation System | ||
Series 2020A, Rev., 5.00%, 10/1/2024 | 400,000 | 405,340 |
Series B, Rev., 5.00%, 10/1/2024 | 400,000 | 400,476 |
County of Miami-Dade, Building Better Communities Program Series 2016A, GO, 5.00%, 7/1/2024 | 30,000 | 30,324 |
County of Miami-Dade, Water and Sewer System Series 2015, Rev., 5.00%, 10/1/2024 | 250,000 | 253,911 |
County of Polk Utility System Series 2013, Rev., 5.00%, 10/1/2024 | 25,000 | 25,036 |
County of St Lucie Series 2017, Rev., 5.00%, 10/1/2024 | 25,000 | 25,344 |
County of St. Lucie, Power and Light Co. Project Rev., VRDO, 2.25%, 12/1/2023 (c) | 45,750,000 | 45,750,000 |
Duval County Public Schools | ||
Series 2022A, COP, AGM, 5.00%, 7/1/2026 | 275,000 | 288,620 |
Series 2015B, COP, 5.00%, 7/1/2027 | 20,000 | 20,541 |
Escambia County School Board Series 2020A, COP, 5.00%, 2/1/2026 | 75,000 | 77,510 |
Florida Department of Environmental Protection | ||
Series 2014A, Rev., 5.00%, 7/1/2024 | 60,000 | 60,620 |
Series 2016A, Rev., 5.00%, 7/1/2024 | 65,000 | 65,672 |
Series 2016A, Rev., 5.00%, 7/1/2027 | 720,000 | 754,609 |
Florida Department of Environmental Protection, Everglades Restoration Series 2022A, Rev., 5.00%, 7/1/2024 | 30,000 | 30,310 |
Florida Department of Management Services | ||
Series 2015A, COP, 5.00%, 8/1/2024 | 140,000 | 141,625 |
Series 2017A, Rev., 5.00%, 9/1/2024 | 200,000 | 202,757 |
Series 2018A, COP, 5.00%, 11/1/2024 | 25,000 | 25,405 |
Series 2018A, COP, 5.00%, 11/1/2026 | 20,000 | 21,180 |
Florida Development Finance Corp. Series 2020A, Rev., 5.00%, 4/1/2024 | 225,000 | 226,227 |
Florida Gulf Coast University Financing Corp., Housing Project Series 2008A, Rev., VRDO, LOC : TD Bank NA, 2.95%, 12/13/2023 (c) | 9,825,000 | 9,825,000 |
Florida Higher Educational Facilities Financial Authority, Rollins College Project Series 2012B, Rev., 3.13%, 12/1/2025 | 100,000 | 98,645 |
Florida Housing Finance Corp. | ||
Series 2023E, Rev., 5.00%, 5/1/2025 (c) | 2,530,000 | 2,572,849 |
Series 2023C, Rev., 5.00%, 12/1/2025 (c) | 4,665,000 | 4,770,896 |
Florida Municipal Power Agency | ||
Series 2015B, Rev., 5.00%, 10/1/2026 | 25,000 | 25,696 |
Series 2017 A, Rev., 5.00%, 10/1/2026 | 30,000 | 31,584 |
Series 2016A, Rev., 5.00%, 10/1/2027 | 60,000 | 62,684 |
Series 2017 A, Rev., 5.00%, 10/1/2027 | 100,000 | 107,112 |
Series 2018A, Rev., 4.00%, 10/1/2028 | 25,000 | 25,705 |
Series 2016A, Rev., 5.00%, 10/1/2028 | 155,000 | 161,892 |
Florida Municipal Power Agency, All-Requirements Power Supply Project | ||
Series 2016A, Rev., 5.00%, 10/1/2024 | 100,000 | 101,376 |
Series 2017A, Rev., 5.00%, 10/1/2025 | 85,000 | 87,687 |
Series 2016A, Rev., 5.00%, 10/1/2026 | 650,000 | 684,320 |
FSU Financial Assistance, Inc. Series 2012C, Rev., 3.00%, 10/1/2025 | 100,000 | 99,190 |
Greater Orlando Aviation Authority Series 2010A, Rev., 5.00%, 12/20/2023 | 1,200,000 | 1,200,540 |
Hillsborough County, Aviation Authority, Tampa International Airport Series 2015B, Rev., 5.00%, 10/1/2024 (b) | 5,160,000 | 5,235,643 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Florida — continued | ||
Jacksonville Transportation Authority, Senior Lien Gas Tax Rev., 5.00%, 8/1/2024 | 25,000 | 25,282 |
JEA Water and Sewer System | ||
Series 2008A-1, Rev., VRDO, LIQ : U.S. Bank NA, 2.00%, 12/1/2023 (c) | 12,700,000 | 12,700,000 |
Series 2017A, Rev., 5.00%, 10/1/2024 | 100,000 | 101,515 |
Lee County School Board (The) | ||
Series 2014B, COP, 5.00%, 8/1/2024 | 25,000 | 25,280 |
Series 2014B, COP, 5.00%, 8/1/2026 | 25,000 | 25,214 |
Series 2019A, COP, 5.00%, 8/1/2026 | 35,000 | 36,827 |
Lee Memorial Health System Series A-1, Rev., 5.00%, 4/1/2024 | 115,000 | 115,455 |
Miami Beach Redevelopment Agency Series A, Rev., 5.00%, 2/1/2028 | 575,000 | 576,183 |
Miami-Dade County Educational Facilities Authority Series B, Rev., AMBAC, 5.25%, 4/1/2024 | 215,000 | 216,162 |
Miami-Dade County Expressway Authority | ||
Series 2014B, Rev., 5.00%, 7/1/2024 | 130,000 | 130,959 |
Series 2014 A, Rev., 5.00%, 7/1/2027 | 375,000 | 378,043 |
Series 2014B, Rev., 5.00%, 7/1/2027 | 1,000,000 | 1,008,116 |
Series 2016A, Rev., 5.00%, 7/1/2028 | 20,000 | 20,709 |
Miami-Dade County Housing Finance Authority | ||
Series 2023, Rev., 5.00%, 9/1/2025 (c) | 2,250,000 | 2,288,780 |
Series 2023, Rev., 5.00%, 10/1/2025 (c) | 4,675,000 | 4,798,530 |
Orange County Health Facilities Authority, Orlando Health Obligated Group Series 2019B, Rev., 5.00%, 10/1/2025 | 945,000 | 974,199 |
Orange County School Board | ||
Series 2015D, COP, 5.00%, 8/1/2024 | 100,000 | 101,141 |
Series 2015C, COP, 5.00%, 8/1/2025 (b) | 20,000 | 20,604 |
Series 2015D, COP, 5.00%, 8/1/2025 (b) | 80,000 | 82,481 |
Orlando Utilities Commission Series 2013A, Rev., 5.00%, 10/1/2025 | 500,000 | 517,970 |
Orlando Utilities Commission, Utility System Series 2013A, Rev., 5.00%, 10/1/2024 | 260,000 | 263,918 |
Palm Beach County Health Facilities Authority, Baptist Health South Florida Obligated Group Rev., 5.00%, 8/15/2024 | 1,195,000 | 1,207,565 |
Palm Beach County School District | ||
Series 2015B, COP, 5.00%, 8/1/2024 | 50,000 | 50,561 |
Series 2015D, COP, 5.00%, 8/1/2024 | 50,000 | 50,561 |
Series 2018B, COP, 5.00%, 8/1/2024 | 50,000 | 50,561 |
Series 2014B, COP, 5.00%, 8/1/2025 | 45,000 | 46,352 |
Series 2017B, COP, 5.00%, 8/1/2025 | 155,000 | 159,656 |
Series 2015B, COP, 5.00%, 8/1/2027 | 25,000 | 25,699 |
Pasco County School Board | ||
Series 2013A, COP, 5.00%, 8/1/2024 | 1,315,000 | 1,316,445 |
Series 2013, Rev., 5.00%, 10/1/2024 | 520,000 | 527,368 |
COP, 5.00%, 8/1/2025 | 140,000 | 143,748 |
Polk County School District Series 2019B, COP, 5.00%, 1/1/2025 | 125,000 | 127,342 |
Polk County School District, Sales Tax Rev., 5.00%, 10/1/2024 | 30,000 | 30,450 |
Sarasota County Public Hospital District, Sarasota Memorial Hospital Series 1998B, Rev., NATL - RE, 5.25%, 7/1/2024 | 345,000 | 348,542 |
School Board of Miami-Dade County (The) | ||
Series 2014D, COP, 5.00%, 11/1/2024 | 170,000 | 172,431 |
Series 2015D, COP, 5.00%, 2/1/2025 | 865,000 | 881,061 |
COP, 5.00%, 5/1/2025 | 130,000 | 132,992 |
Series 2015C, COP, 5.00%, 5/1/2025 | 150,000 | 153,452 |
Series 2014D, COP, 5.00%, 11/1/2025 | 585,000 | 594,002 |
COP, 5.00%, 2/1/2026 | 360,000 | 372,883 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Florida — continued | ||
COP, 5.00%, 5/1/2026 | 265,000 | 270,566 |
Series 2014D, COP, 5.00%, 11/1/2026 | 275,000 | 278,861 |
Series 2015D, COP, 5.00%, 2/1/2027 | 150,000 | 155,595 |
Series 2015A, COP, AGM, 5.00%, 5/1/2027 | 330,000 | 337,759 |
Series 2015A, COP, 5.00%, 5/1/2028 | 110,000 | 112,295 |
School Board of Miami-Dade County (The), Florida Certificates Of Participation | ||
Series 2015D, COP, 5.00%, 2/1/2024 | 3,955,000 | 3,964,280 |
Series 2014A, COP, 5.00%, 5/1/2024 (b) (c) | 1,805,000 | 1,816,736 |
COP, 5.00%, 7/1/2026 | 160,000 | 164,229 |
COP, 5.00%, 8/1/2027 | 60,000 | 62,892 |
COP, 5.00%, 5/1/2028 | 345,000 | 352,199 |
School District of Broward County | ||
Series 2015A, COP, 5.00%, 7/1/2024 | 80,000 | 80,827 |
Series 2015B, COP, 5.00%, 7/1/2024 | 215,000 | 217,285 |
Series 2015B, COP, 5.00%, 7/1/2025 | 220,000 | 226,588 |
School District of Broward County (The) COP, 5.00%, 7/1/2025 | 80,000 | 82,396 |
School District of Broward County, Florida Certificates Of Participation | ||
Series C, COP, 5.00%, 7/1/2024 | 285,000 | 287,947 |
COP, 5.00%, 7/1/2026 | 20,000 | 21,067 |
Series A, COP, 5.00%, 7/1/2026 | 40,000 | 42,134 |
COP, 5.00%, 7/1/2027 | 75,000 | 78,491 |
Series 2015B, COP, 5.00%, 7/1/2027 | 25,000 | 25,707 |
COP, 5.00%, 7/1/2028 | 310,000 | 324,666 |
COP, 5.00%, 7/1/2028 | 385,000 | 395,237 |
COP, AGM, 5.00%, 7/1/2028 | 270,000 | 277,305 |
Seacoast Utility Authority Series B, Rev., 5.00%, 3/1/2024 | 75,000 | 75,328 |
South Broward Hospital District, Memorial Healthcare System | ||
Series 2016, Rev., 5.00%, 5/1/2024 | 40,000 | 40,301 |
Rev., 4.00%, 5/1/2026 | 195,000 | 199,472 |
South Florida Water Management District COP, 5.00%, 10/1/2024 | 40,000 | 40,622 |
St. Johns County Industrial Development Authority, Vicar's Landing Project Series 2021A, Rev., 4.00%, 12/15/2023 | 120,000 | 119,947 |
St. Johns County School Board, Sales Tax Rev., 5.00%, 10/1/2024 | 70,000 | 70,992 |
State of Florida Series 2023A, GO, 5.00%, 6/1/2026 | 125,000 | 131,695 |
State of Florida Board of Education, Public Education Capital Outlay Series 2015A, GO, 5.00%, 6/1/2026 | 35,000 | 35,376 |
State of Florida Department of Education | ||
Series 2021A, Rev., 5.00%, 7/1/2024 | 1,000,000 | 1,008,799 |
Series 2018A, Rev., 5.00%, 7/1/2025 | 1,000,000 | 1,026,679 |
State of Florida Department of Transportation Rev., 5.00%, 7/1/2024 | 35,000 | 35,366 |
State of Florida Department of Transportation Turnpike System Series 2016B, Rev., 2.50%, 7/1/2026 | 20,000 | 19,640 |
State of Florida, Public Education Capital Outlay Series 2015 A, GO, 5.00%, 6/1/2025 | 210,000 | 212,189 |
State of Florida, State Board of Education, Lottery Series 2014A, Rev., 3.00%, 7/1/2025 | 70,000 | 69,906 |
Total Florida | 127,157,354 | |
Georgia — 0.4% | ||
Atlanta and Fulton County Recreation Authority, Park Improvement Series A, Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
Braselton Urban Redevelopment Agency, Municipal Facilities Project Rev., GTD, 4.00%, 7/1/2024 | 30,000 | 30,098 |
City of Atlanta Series 2014A, Rev., AMT, 5.00%, 1/1/2024 | 30,000 | 30,033 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Georgia — continued | ||
City of Atlanta Airport Passenger Facility Charge, Sub Lien | ||
Series 2014A, Rev., AMT, 5.00%, 1/1/2024 (b) | 150,000 | 150,166 |
Series 2014A, Rev., AMT, 5.00%, 1/1/2024 | 310,000 | 310,344 |
City of Atlanta Airport Passenger Facility Charge, Subordinate Lien Series 2014A, Rev., AMT, 5.00%, 1/1/2024 | 40,000 | 40,044 |
City of Atlanta, Public Improvement GO, 4.75%, 12/1/2024 (b) | 30,000 | 30,514 |
City of Atlanta, Water and Wastewater Rev., 5.00%, 11/1/2026 | 25,000 | 25,694 |
City of Columbus Series 2022, GO, 5.00%, 1/1/2024 | 70,000 | 70,092 |
Cobb County Kennestone Hospital Authority Rev., 5.00%, 4/1/2024 | 80,000 | 80,117 |
Cobb County Kennestone Hospital Authority,Wellstar Health System, Inc. Project Series 2020B, Rev., 5.00%, 4/1/2025 | 500,000 | 509,449 |
Cobb-Marietta Coliseum and Exhibit Hall Authority, Performing Arts Center Project Rev., GTD, 4.00%, 1/1/2024 | 85,000 | 85,056 |
Columbus Medical Center Hospital Authority, Piedmont Healthcare Inc., Project Series 2019A, Rev., 5.00%, 7/1/2026 (c) | 235,000 | 241,841 |
County of DeKalb, Special Transportation, Parks and Greenspace and Libraries Tax GO, 5.00%, 12/1/2025 | 40,000 | 41,602 |
Development Authority of Gwinnett County COP, NATL - RE, 5.25%, 1/1/2024 | 50,000 | 50,070 |
Forsyth County Public Facilities Authority, Forsyth School Districct Project Series 2016, Rev., 5.00%, 2/1/2024 | 50,000 | 50,146 |
Gainesville and Hall County Development Authority, Hall County Facilities Project Rev., 5.00%, 5/1/2024 | 20,000 | 20,147 |
Gainesville and Hall County Hospital Authority, Northeast Georgia Health System, Inc. Series 2014A, Rev., GTD, 5.25%, 2/15/2025 (b) | 330,000 | 338,502 |
Gainesville and Hall County Hospital Authority, Project Series 2020A, Rev., 5.00%, 2/15/2024 | 240,000 | 240,562 |
Georgia Municipal Association, Inc. Series 2018, COP, 5.00%, 12/1/2023 | 75,000 | 75,000 |
Henry County School District Series 2016, GO, 5.00%, 8/1/2025 | 25,000 | 25,800 |
Houston Healthcare System, Inc. Series 2016 A, Rev., 5.00%, 4/1/2024 (b) | 140,000 | 140,649 |
Main Street Natural Gas, Inc., Gas Supply | ||
Series 2018E, Rev., VRDO, LIQ : Royal Bank of Canada, (SIFMA Municipal Swap Index Yield + 0.57%), 3.87%, 12/1/2023 (c) | 6,590,000 | 6,590,000 |
Series 2018C, Rev., LIQ : Royal Bank of Canada, 4.00%, 12/1/2023 (b) | 100,000 | 100,000 |
Municipal Electric Authority of Georgia Project Series 2016 A, Rev., 5.00%, 1/1/2026 | 20,000 | 20,631 |
Paulding County School District GO, 5.00%, 2/1/2025 (b) | 50,000 | 51,077 |
Richmond County Board of Education Series 2021, GO, 5.00%, 10/1/2024 | 430,000 | 436,550 |
South Fulton Municipal Regional Water & Sewer Authority Series 2014, Rev., GTD, 5.00%, 1/1/2024 | 150,000 | 150,175 |
Toombs County Public Facilities Authority Series 2020, Rev., 5.00%, 12/1/2023 | 30,000 | 30,000 |
Walton County School District Series 2012, GO, 5.25%, 8/1/2025 | 50,000 | 51,743 |
Total Georgia | 10,041,102 | |
Hawaii — 0.0% ^ | ||
City and County Honolulu, Wastewater System Series B, Rev., 5.00%, 7/1/2024 | 25,000 | 25,271 |
City and County of Honolulu | ||
Series C, GO, 5.00%, 10/1/2024 | 25,000 | 25,393 |
Series 2012C, GO, 3.00%, 11/1/2025 | 175,000 | 174,997 |
County of Maui Series 2020, GO, 5.00%, 3/1/2024 | 25,000 | 25,112 |
State of Hawaii | ||
Series 2018 FT, GO, 5.00%, 1/1/2024 | 40,000 | 40,053 |
Series FG, GO, 5.00%, 10/1/2024 | 25,000 | 25,385 |
Series FH, GO, 5.00%, 10/1/2024 | 105,000 | 106,617 |
Total Hawaii | 422,828 | |
Idaho — 0.5% | ||
Ada & Canyon Counties Joint School District No. 2 Meridian Series 2015, GO, 5.00%, 8/15/2025 (b) | 2,515,000 | 2,600,702 |
Idaho Fish & Wildlife Foundation, Inc. Series 2019, Rev., 5.00%, 12/1/2023 | 50,000 | 50,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Idaho — continued | ||
Idaho Housing and Finance Association, Federal Highway Trust | ||
Series 2015A, Rev., 5.00%, 7/15/2025 | 30,000 | 30,875 |
Series 2015A, Rev., 5.00%, 7/15/2026 | 70,000 | 73,637 |
Idaho Housing and Finance Association, Single Family Mortgage Series 2009A, Class I, Rev., VRDO, 3.48%, 12/13/2023 (c) | 2,640,000 | 2,640,000 |
Twin Falls County School District No. 411 Twin Falls | ||
Series A, GO, 4.25%, 9/15/2024 (b) | 4,025,000 | 4,059,063 |
Series A, GO, 4.50%, 9/15/2024 (b) | 2,235,000 | 2,258,185 |
Total Idaho | 11,712,462 | |
Illinois — 5.7% | ||
Champaign County Community Unit School District No. 4 Champaign Series 2017, GO, 5.00%, 1/1/2025 | 25,000 | 25,471 |
Chicago Board of Education | ||
Series 2018 A, GO, AGM, 5.00%, 12/1/2023 | 1,000,000 | 1,000,000 |
Series 2005A, GO, AMBAC, 5.50%, 12/1/2023 | 100,000 | 100,000 |
Chicago Board of Education, Capital Appreciation School Reform Series 1999A, GO, NATL - RE, Zero Coupon, 12/1/2023 | 3,440,000 | 3,440,000 |
Chicago Board of Education, Unlimited Tax Series 2018A, GO, AGM, 5.00%, 12/1/2024 | 275,000 | 278,013 |
Chicago Midway International Airport | ||
Series 2014B, Rev., 5.00%, 1/1/2024 | 80,000 | 80,086 |
Series 2014B, Rev., 5.00%, 2/6/2024 | 2,895,000 | 2,902,195 |
Series 2014A, Rev., AMT, 5.00%, 1/1/2025 | 3,000,000 | 3,000,355 |
Chicago Midway International Airport, Second Lien | ||
Series 2013B, Rev., 5.00%, 2/6/2024 | 1,280,000 | 1,283,070 |
Series 2014B, Rev., 5.00%, 2/6/2024 | 3,000,000 | 3,007,456 |
Chicago O'Hare International Airport | ||
Series B, Rev., 5.00%, 1/1/2027 | 130,000 | 131,624 |
Series C, Rev., 5.00%, 1/1/2028 | 20,000 | 21,116 |
Chicago O'Hare International Airport, General Airport Senior Lien Series A, Rev., 5.00%, 1/1/2027 | 70,000 | 74,442 |
Chicago O'Hare International Airport, General Airport, Senior Lien | ||
Series B, Rev., 5.00%, 1/1/2024 | 125,000 | 125,152 |
Series C, Rev., 5.00%, 1/1/2024 | 45,000 | 45,055 |
Series E, Rev., 5.00%, 1/1/2024 | 40,000 | 40,049 |
Series B, Rev., 5.00%, 1/1/2025 | 185,000 | 188,249 |
Series 2020B, Rev., 5.00%, 1/1/2026 | 40,000 | 41,629 |
Series B, Rev., 5.00%, 1/1/2026 | 90,000 | 90,972 |
Series B, Rev., 5.00%, 1/1/2028 | 710,000 | 719,370 |
Chicago O'Hare International Airport, Senior Lien | ||
Series 2022D, Rev., 5.00%, 1/1/2026 | 215,000 | 223,753 |
Series E, Rev., 5.00%, 1/1/2026 | 165,000 | 171,718 |
Series 2022D, Rev., 5.00%, 1/1/2027 | 30,000 | 31,904 |
Chicago Park District | ||
Series 2014A, GO, 5.00%, 1/1/2024 (b) | 75,000 | 75,097 |
Series 2014C, GO, 5.00%, 1/1/2024 (b) | 70,000 | 70,083 |
Series 2015A, GO, 5.00%, 1/1/2024 (b) | 35,000 | 35,043 |
Chicago Transit Authority Capital Grant Receipts Series 2017, Rev., 5.00%, 6/1/2024 | 1,475,000 | 1,484,086 |
City of Chicago Series 2002, Rev., 5.00%, 1/1/2025 (b) | 90,000 | 91,504 |
City of Decatur | ||
GO, 4.00%, 3/1/2024 | 120,000 | 120,054 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Illinois — continued | ||
GO, 4.00%, 3/1/2025 | 195,000 | 196,625 |
GO, 4.00%, 3/1/2026 | 170,000 | 173,271 |
GO, 4.00%, 3/1/2027 | 200,000 | 206,139 |
Cook County Community College District No. 504 Triton, General Obligation Series 2014, GO, 5.00%, 12/1/2023 (b) | 30,000 | 30,000 |
Cook County Community College District No. 508,Unlimited Tax Series 2013, GO, 5.00%, 12/1/2023 | 25,000 | 25,000 |
Cook County Community High School District No. 229 Oak Lawn Series 2016, GO, 4.00%, 12/1/2023 | 25,000 | 25,000 |
Cook County High School District No. 205, Thornton Township, Limited Tax Series 2017C, GO, 5.00%, 12/1/2023 | 325,000 | 325,000 |
County of Cook | ||
Series 2022A, GO, 5.00%, 11/15/2024 | 1,000,000 | 1,014,970 |
Series 2021B, GO, 4.00%, 11/15/2026 | 120,000 | 122,532 |
Series 2021A, GO, 5.00%, 11/15/2028 | 110,000 | 118,513 |
Du Page and Will Counties Community School District No. 204 Indian Prairie GO, 4.00%, 12/30/2024 | 50,000 | 50,448 |
DuPage & Cook Counties Community Unit School District No. 205 Elmhurst Series 2015, GO, 5.00%, 1/1/2024 | 140,000 | 140,159 |
DuPage County Forest Preserve District Series 2015, GO, 5.00%, 1/1/2024 | 60,000 | 60,080 |
Illinois Finance Authority | ||
Series 2015, Rev., 5.00%, 12/1/2023 | 240,000 | 240,000 |
Series 2016, Rev., 5.00%, 1/1/2024 | 50,000 | 50,059 |
Series 2017, Rev., 5.00%, 1/1/2024 | 30,000 | 30,036 |
Series 2016C, Rev., 4.00%, 2/15/2024 | 240,000 | 240,311 |
Series 2013A, Rev., 5.00%, 6/1/2024 | 50,000 | 50,036 |
Series 2014, Rev., 5.00%, 8/1/2024 (b) | 19,525,000 | 19,732,490 |
Series 2021A, Rev., 5.00%, 8/15/2025 | 40,000 | 41,079 |
Series 2015A, Rev., 5.00%, 10/1/2025 (b) | 27,000,000 | 27,882,760 |
Series 2016, Rev., 4.00%, 7/1/2026 | 60,000 | 61,254 |
Series 2015, Rev., 5.00%, 12/1/2026 | 20,000 | 20,718 |
Series 2015A, Rev., 5.00%, 11/15/2027 | 70,000 | 71,353 |
Series 2016, Rev., 5.00%, 1/1/2028 | 160,000 | 166,478 |
Illinois Finance Authority, Advocate Health Care Network Series 2014, Rev., 5.00%, 8/1/2024 (b) | 115,000 | 116,222 |
Illinois Finance Authority, Downers Grove Community High School District Number 99 project Series 2019, Rev., 5.00%, 12/15/2023 | 50,000 | 50,026 |
Illinois Finance Authority, Edward Elmhurst Healthcare Series 2017 A, Rev., 5.00%, 1/1/2027 (b) | 25,000 | 26,503 |
Illinois Finance Authority, OSF Healthcare System Series 2015A, Rev., 5.00%, 11/15/2024 | 140,000 | 141,769 |
Illinois Finance Authority, Presbyterian Homes Obligated Group Series 2021B, Rev., (SIFMA Municipal Swap Index Yield + 0.70%), 3.68%, 12/14/2023 (d) | 5,790,000 | 5,666,498 |
Illinois Finance Authority, Riverside Health System Rev., 5.00%, 11/15/2024 | 1,680,000 | 1,682,217 |
Illinois Finance Authority, Rush University Medical Center Obligated Group | ||
Series 2015A, Rev., 5.00%, 11/15/2024 | 645,000 | 653,150 |
Series 2015A, Rev., 5.00%, 11/15/2025 | 190,000 | 194,337 |
Illinois Finance Authority, Southern Illinois Healthcare Enterprises, Inc. Series 2017C, Rev., 5.00%, 3/1/2027 | 1,210,000 | 1,264,042 |
Illinois Finance Authority, State Of Illinois Clean Water Initiative Series 2019, Rev., 5.00%, 7/1/2024 | 50,000 | 50,480 |
Illinois Finance Authority, Swedish Covenant Hospital Series 2016A, Rev., 5.00%, 8/15/2026 (b) | 355,000 | 371,817 |
Illinois Finance Authority, The Carle Foundation Series 2021A, Rev., 5.00%, 8/15/2028 | 270,000 | 292,437 |
Illinois Finance Authority, The University of Chicago Medical Center Series A, Rev., 5.00%, 8/15/2024 | 235,000 | 237,552 |
Illinois Finance Authority, Unitypoint Health Series 2016D, Rev., 5.00%, 2/15/2024 (b) | 745,000 | 747,496 |
Illinois Housing Development Authority Rev., FHA, 4.00%, 6/1/2025 (c) | 2,785,000 | 2,789,018 |
Illinois Municipal Electric Agency, Power Supply System | ||
Series 2015A, Rev., 5.00%, 2/1/2024 | 1,050,000 | 1,052,632 |
Series 2015A, Rev., 5.00%, 2/1/2026 | 300,000 | 307,981 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Illinois — continued | ||
Illinois State Toll Highway Authority | ||
Series 2014D, Rev., 5.00%, 1/1/2024 | 85,000 | 85,116 |
Series 2014B, Rev., 5.00%, 1/1/2026 | 75,000 | 75,075 |
Series 2013A, Rev., 5.00%, 1/1/2027 | 90,000 | 90,124 |
Series 2014B, Rev., 5.00%, 1/1/2028 | 95,000 | 95,108 |
Lake County School District No. 112 North Shore Series 2022, GO, 5.00%, 12/1/2024 | 335,000 | 340,862 |
Lake County Township High School District No. 121 Warren Series 2016A, GO, 3.00%, 1/1/2024 (b) | 370,000 | 369,949 |
Macon & Moultrie Counties Community Unit School District No. 3 Mt Zion Series 2013, GO, 5.75%, 12/1/2023 (b) | 560,000 | 560,000 |
McHenry County Conservation District GO, 5.00%, 2/1/2024 | 20,000 | 20,054 |
McLean and Woodford Counties Community Unit School District No. 5 Normal Series 2017A, GO, 4.00%, 12/1/2023 | 445,000 | 445,000 |
Metropolitan Water Reclamation District of Greater Chicago | ||
Series A, GO, 5.00%, 12/1/2023 | 25,000 | 25,000 |
Series B, GO, 5.00%, 12/1/2023 | 100,000 | 100,000 |
Northern Illinois Municipal Power Agency Series 2016 A, Rev., 5.00%, 12/1/2026 | 45,000 | 47,589 |
Public Building Commission of Chicago Series 2006, Rev., AMBAC, 5.25%, 3/1/2024 | 1,000,000 | 1,002,997 |
Railsplitter Tobacco Settlement Authority | ||
Rev., 5.00%, 6/1/2025 (b) | 275,000 | 282,399 |
Series 2017, Rev., 5.00%, 6/1/2026 (b) | 585,000 | 613,165 |
Regional Transportation Authority Series 2017A, Rev., 5.00%, 7/1/2024 | 50,000 | 50,474 |
Rock Island County Community Unit School District No. 40 Moline, Alternative Revenue Source GO, 3.00%, 2/1/2024 | 20,000 | 19,996 |
Sales Tax Securitization Corp., Second Lien Series 2023A, Rev., 5.00%, 1/1/2024 | 80,000 | 80,091 |
South Suburban College Community School District No. 510, Limited Tax GO, AGC, Zero Coupon, 12/1/2023 | 25,000 | 25,000 |
State of Illinois | ||
Series 2017A, GO, 5.00%, 12/1/2023 | 100,000 | 100,000 |
Series 2017B, GO, 5.00%, 12/1/2023 | 200,000 | 200,000 |
GO, 5.00%, 2/1/2024 | 215,000 | 215,421 |
Series FEBRUARY 2014, GO, 5.00%, 2/1/2024 | 40,000 | 40,078 |
Series 2021C, GO, 4.00%, 3/1/2024 | 1,000,000 | 1,000,668 |
Series 2021B, GO, 5.00%, 3/1/2024 | 360,000 | 361,095 |
Series 2022A, GO, 5.00%, 3/1/2024 | 5,425,000 | 5,441,494 |
Series 2022B, GO, 5.00%, 3/1/2024 | 5,760,000 | 5,777,512 |
Series 2018A, GO, 4.00%, 5/1/2024 | 50,000 | 50,061 |
Series 2018A, GO, 5.00%, 10/1/2024 | 50,000 | 50,548 |
Series 2022B, GO, 5.00%, 3/1/2025 | 1,400,000 | 1,423,545 |
Series 2018B, GO, 5.00%, 10/1/2025 | 35,000 | 35,879 |
Series 2020B, GO, 5.00%, 10/1/2025 | 40,000 | 41,004 |
Series 2020D, GO, 5.00%, 10/1/2025 | 45,000 | 46,130 |
Series 2017D, GO, 5.00%, 11/1/2025 | 4,005,000 | 4,112,325 |
Series 2017A, GO, 5.00%, 12/1/2025 | 250,000 | 256,891 |
GO, 5.00%, 2/1/2026 | 25,000 | 25,752 |
Series FEBRUARY 2014, GO, 5.00%, 2/1/2026 | 2,000,000 | 2,000,571 |
Series 2021A, GO, 5.00%, 3/1/2026 | 150,000 | 154,707 |
Series 2016-6, GO, 5.00%, 6/1/2026 | 450,000 | 465,922 |
Series 2018B, GO, 5.00%, 10/1/2026 | 125,000 | 130,093 |
Series 2020B, GO, 5.00%, 10/1/2026 | 1,305,000 | 1,358,172 |
Series 2017D, GO, 5.00%, 11/1/2026 | 19,635,000 | 20,474,337 |
Series 2019 A, GO, 5.00%, 11/1/2026 | 50,000 | 52,107 |
Series 2022A, GO, 5.00%, 3/1/2027 | 50,000 | 52,372 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Illinois — continued | ||
Series 2023D, GO, 5.00%, 7/1/2028 | 75,000 | 80,207 |
Series 2020B, GO, 5.00%, 10/1/2028 | 175,000 | 187,534 |
Series 2017D, GO, 5.00%, 11/1/2028 | 330,000 | 349,452 |
Series 2021A, GO, 5.00%, 12/1/2028 | 50,000 | 53,703 |
State of Illinois, Sales Tax | ||
Rev., 5.00%, 6/15/2024 | 550,000 | 551,270 |
Series 2016A, Rev., 5.00%, 6/15/2024 | 115,000 | 115,668 |
Series 2002-4, Rev., NATL - RE, 6.00%, 6/15/2024 | 425,000 | 430,015 |
Taylorville Community Unit School District No. 3 Series 2013, GO, 5.75%, 12/1/2023 (b) | 1,000,000 | 1,000,000 |
Tender Option Bond Trust Receipts/Certificates Series 2017-XF2500, Rev., VRDO, LIQ : Citibank NA, 3.35%, 12/13/2023 (c) (e) | 1,840,000 | 1,840,000 |
Village of Midlothian | ||
GO, AGM, 4.00%, 1/1/2024 | 70,000 | 70,020 |
GO, AGM, 4.00%, 1/1/2025 | 40,000 | 40,225 |
Village of Rantoul GO, 4.00%, 1/1/2025 | 350,000 | 352,520 |
Village of Streamwood GO, 5.00%, 12/1/2023 | 20,000 | 20,000 |
Village of Villa Park Series 2018C, GO, 4.00%, 12/15/2023 | 50,000 | 50,006 |
Will County School District No. 86 Joliet Series 2015C, GO, AGM - CR, 5.00%, 3/1/2024 | 6,005,000 | 6,025,576 |
Will Grundy Etc Counties Community College District No. 525 Series 2013B, GO, 5.25%, 12/1/2023 (b) | 25,000 | 25,000 |
Total Illinois | 145,001,913 | |
Indiana — 0.5% | ||
Avon Community School Building Corp., Ad Valorem Property Tax First Mortgage Rev., 4.00%, 7/15/2024 | 25,000 | 25,088 |
Brownsburg 1999 School Building Corp., Ad Valorem Property Tax First Mortgage Series 2015B, Rev., 5.00%, 7/15/2024 | 30,000 | 30,280 |
Carmel Local Public Improvement Bond Bank Series 2021A, Rev., 4.00%, 7/15/2025 | 65,000 | 65,788 |
Carmel Redevelopment Authority, Option Income Tax Lease Rental | ||
Series 2014B, Rev., 5.00%, 1/1/2024 | 35,000 | 35,043 |
Series 2014B, Rev., 5.00%, 7/1/2024 | 70,000 | 70,684 |
City of Indianapolis, Department of Public Utilities Water System Series 2018A, Rev., 5.00%, 10/1/2026 | 25,000 | 26,403 |
Clark Pleasant Middle School Corp., Ad Valorem Property Tax First Mortgage Rev., 4.00%, 1/15/2025 | 35,000 | 35,244 |
East Allen Multi School Building Corp., Indiana Ad Valorem Property Tax, First Mortgage Rev., 4.00%, 1/15/2024 | 40,000 | 40,029 |
Fishers Industrial Redevelopment District, Income Tax | ||
Rev., 4.00%, 1/15/2024 | 25,000 | 25,014 |
Rev., 4.00%, 7/15/2024 | 35,000 | 35,121 |
Fort Wayne Redevelopment Authority Lease Rental Series 2014A, Rev., 3.00%, 8/1/2024 | 50,000 | 49,824 |
GCS School Building Corp. One, Unlimited Ad Valorem Property Tax First Mortgage Rev., 5.00%, 1/15/2026 | 45,000 | 46,628 |
Hamilton Southeastern Consolidated School Building Corp., Ad Valorem Property Tax First Mortgage Rev., 4.00%, 1/15/2024 | 25,000 | 25,017 |
Indiana Finance Authority | ||
Series 2016A, Rev., 5.00%, 12/1/2023 | 275,000 | 275,000 |
Series 2021-2, Rev., 5.00%, 10/1/2024 | 25,000 | 25,369 |
Series 2016C, Rev., 5.00%, 12/1/2024 | 40,000 | 40,747 |
Series 2015A, Rev., 4.00%, 3/1/2025 (b) | 25,000 | 25,233 |
Series 2021-2, Rev., 5.00%, 10/1/2025 | 70,000 | 72,427 |
Series 2016, Rev., 5.00%, 9/1/2026 | 40,000 | 41,865 |
Indiana Finance Authority, Franciscan Alliance, Inc., Obligated Group Series 2016B, Rev., 5.00%, 11/1/2024 | 345,000 | 350,244 |
Indiana Finance Authority, Goshen Health Series 2019B, Rev., 2.10%, 11/1/2026 (c) | 60,000 | 56,851 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Indiana — continued | ||
Indiana Finance Authority, Indiana University Health Obligated Group | ||
Series 2019C, Rev., 5.00%, 12/1/2024 | 125,000 | 126,857 |
Series 2019B, Rev., 2.25%, 7/1/2025 (c) | 150,000 | 146,662 |
Indiana Health Facility Financing Authority, Ascension Health Credit Group Series 2005A-7, Rev., 4.00%, 10/1/2025 | 30,000 | 30,474 |
Indiana Municipal Power Agency | ||
Series 2016C, Rev., 5.00%, 1/1/2027 | 75,000 | 78,261 |
Series 2016C, Rev., 5.00%, 1/1/2028 | 50,000 | 52,149 |
Indiana Municipal Power Agency, Power Supply System | ||
Series 2014A, Rev., 5.00%, 1/1/2024 | 100,000 | 100,122 |
Series 2017A, Rev., 5.00%, 1/1/2024 | 85,000 | 85,103 |
Series 2014A, Rev., 5.00%, 1/1/2027 | 25,000 | 25,398 |
Indiana Transportation Finance Authority Series 2004C, Rev., NATL - RE, 5.50%, 12/1/2023 | 30,000 | 30,000 |
Indianapolis Local Public Improvement Bond Bank Series 2021A, Rev., 5.00%, 6/1/2024 | 345,000 | 347,630 |
Indianapolis Local Public Improvement Bond Bank, Courtyard And Jail Project Series 2019A, Rev., 5.00%, 2/1/2024 | 55,000 | 55,140 |
Indianapolis Local Public Improvement Bond Bank, Stormwater Project Series 2013D, Rev., 3.25%, 1/1/2025 | 100,000 | 100,007 |
Ivy Tech Community College of Indiana, Student Fee | ||
Series W, Rev., 5.00%, 7/1/2024 | 30,000 | 30,286 |
Series W, Rev., 5.00%, 7/1/2025 | 25,000 | 25,690 |
Jackson County Building Corp. Rev., 2.00%, 1/15/2025 | 125,000 | 122,498 |
Merrillville Community School Corp. GO, 2.00%, 1/15/2024 | 1,040,000 | 1,037,240 |
New Prairie United School District Building Corp., First Mortgage Rev., 4.00%, 1/15/2025 | 35,000 | 35,294 |
Perry Township Schools | ||
Series 2022A, GO, 4.00%, 1/15/2024 | 2,800,000 | 2,800,277 |
Series 2022B, GO, 4.00%, 1/15/2024 | 2,950,000 | 2,950,292 |
Series 2022C, GO, 4.00%, 1/15/2024 | 2,375,000 | 2,375,235 |
Pike Township Multi-School Building Corp., First Mortgage Rev., 5.00%, 7/15/2024 | 350,000 | 353,442 |
South Gibson School Building Corp., First Mortgage Rev., 4.00%, 1/10/2025 | 40,000 | 40,339 |
Southmont School Building Corp., Ad Valorem Property Tax, First Mortgage Rev., 5.00%, 1/15/2025 | 20,000 | 20,389 |
Twin Lakes School Building Corp., First Mortgage Rev., 4.00%, 7/15/2024 | 35,000 | 35,087 |
Whitestown Redevelopment Authority Rev., 3.00%, 1/15/2024 | 25,000 | 24,979 |
Winfield Building Corp., Indiana Lease Rental, Sewage Works Treatment Plant Project | ||
Series 2020B, Rev., 4.00%, 1/15/2024 | 35,000 | 35,018 |
Series 2020B, Rev., 4.00%, 7/15/2024 | 35,000 | 35,112 |
Series 2020B, Rev., 4.00%, 1/15/2025 | 40,000 | 40,257 |
Series 2020B, Rev., 4.00%, 7/15/2025 | 40,000 | 40,416 |
Series 2020A, Rev., 4.00%, 1/15/2026 | 110,000 | 111,659 |
Series 2020B, Rev., 4.00%, 1/15/2026 | 40,000 | 40,603 |
Zionsville Community Schools Building Corp., First Mortgage, Capital Appreciation Series 2003Z, Rev., NATL - RE, Zero Coupon, 1/15/2025 | 25,000 | 24,040 |
Total Indiana | 12,753,855 | |
Iowa — 1.0% | ||
City of Davenport Series 2023, GO, 5.00%, 6/1/2024 | 50,000 | 50,430 |
County of Linn Series 2019, COP, 5.00%, 6/1/2024 | 90,000 | 90,761 |
Iowa Finance Authority, UnityPoint Health Series 2018B, Rev., 5.00%, 2/15/2024 | 30,000 | 30,073 |
State of Iowa | ||
Series 2016A, Rev., 5.00%, 6/1/2024 | 25,000 | 25,209 |
Series 2016A, Rev., 5.00%, 6/1/2025 | 40,000 | 41,070 |
State of Iowa Board of Regents, University of Iowa, Hospitals and Clinics Series 2019, Rev., 5.00%, 9/1/2025 | 25,000 | 25,870 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Iowa — continued | ||
University of Iowa (The), Parking System Bond Anticipation Project Series 2023, Rev., BAN, 3.50%, 7/1/2026 | 24,140,000 | 24,035,761 |
Waukee Community School District Infrastructure Sales Services & Use Tax Series 2017A, Rev., 4.00%, 6/1/2024 | 1,220,000 | 1,223,699 |
Total Iowa | 25,522,873 | |
Kansas — 0.1% | ||
City of Manhattan, Temporary Notes Series 2020-03, GO, 0.75%, 6/15/2024 | 100,000 | 97,916 |
County of Shawnee COP, 3.00%, 9/1/2024 | 35,000 | 34,877 |
Johnson County Unified School District No. 233 Olathe Series 2016A, GO, 4.00%, 9/1/2024 (b) | 25,000 | 25,156 |
Rice County Unified School District No. 376 Sterling Series 2015, GO, AGM, 4.00%, 9/1/2025 (b) | 1,200,000 | 1,218,079 |
Sedgwick County Unified School District No. 266 Maize Series 2017, GO, 5.00%, 9/1/2024 | 65,000 | 65,820 |
Total Kansas | 1,441,848 | |
Kentucky — 0.8% | ||
Campbell Kenton & Boone Counties Sanitation District No. 1 Series 2020, Rev., 5.00%, 8/1/2024 | 25,000 | 25,297 |
Kenton County Public Properties Corp., Court Facilities Project Rev., 3.00%, 3/1/2024 | 500,000 | 499,143 |
Kentucky Asset Liability Commission | ||
Series 2021A, Rev., 5.00%, 11/1/2024 | 615,000 | 623,906 |
Series 2015A, Rev., 5.00%, 9/1/2025 | 75,000 | 77,211 |
Kentucky Asset Liability Commission, Federal Highway Trust Fund Series A, Rev., 5.00%, 9/1/2026 | 40,000 | 40,362 |
Kentucky Economic Development Finance Authority, Catholic Health Initiatives Series 2011B-3, Rev., (SIFMA Municipal Swap Index Yield + 1.40%), 4.38%, 12/14/2023 (d) | 12,715,000 | 12,724,721 |
Kentucky Economic Development Finance Authority, CommonSpirit Health Obligated Group Series 2019A-1, Rev., 5.00%, 8/1/2025 | 685,000 | 698,668 |
Kentucky Infrastructure Authority, Wastewater and Drinking Water Revolving Fund Series 2018A, Rev., 3.00%, 2/1/2024 | 25,000 | 24,980 |
Kentucky Municipal Power Agency, Prairie State Project Series 2015A, Rev., NATL - RE, 5.00%, 9/1/2024 | 310,000 | 313,453 |
Kentucky Public Energy Authority, Gas Supply | ||
Series 2022A-1, Rev., 4.00%, 2/1/2024 | 2,500,000 | 2,498,028 |
Series 2018A, Rev., 4.00%, 4/1/2024 (c) | 155,000 | 154,831 |
Series 2020A, Rev., 4.00%, 6/1/2026 (c) | 710,000 | 698,472 |
Kentucky State Property & Building Commission | ||
Series B, Rev., 5.00%, 8/1/2024 | 50,000 | 50,561 |
Series B, Rev., 5.00%, 11/1/2026 | 75,000 | 79,490 |
Kentucky State Property and Building Commission, Project No. 108 | ||
Series B, Rev., 5.00%, 8/1/2026 | 45,000 | 47,420 |
Series A, Rev., 5.00%, 8/1/2028 | 75,000 | 77,105 |
Kentucky State Property and Building Commission, Project No. 115 Rev., 5.00%, 4/1/2028 | 20,000 | 21,289 |
Kentucky State Property and Building Commission, Project No. 122 Series A, Rev., 5.00%, 11/1/2027 | 50,000 | 53,737 |
Kentucky Turnpike Authority Series 2016A, Rev., 5.00%, 7/1/2027 | 25,000 | 26,183 |
Kentucky Turnpike Authority, Revitalization Projects | ||
Series 2014A, Rev., 5.00%, 7/1/2024 | 105,000 | 105,936 |
Series B, Rev., 5.00%, 7/1/2025 | 265,000 | 272,111 |
Series B, Rev., 4.00%, 7/1/2027 | 205,000 | 211,376 |
Lexington-Fayette Urban County Government Series 2017A, GO, 5.00%, 9/1/2024 | 235,000 | 238,153 |
Lexington-Fayette Urban County Government Sewer System Series 2014A, Rev., 5.00%, 9/1/2024 | 155,000 | 157,080 |
Lexington-Fayette Urban County Government, Various Purpose Series 2012B, GO, 3.00%, 7/1/2024 | 100,000 | 99,857 |
Louisville Series 2016 A, Rev., 5.00%, 10/1/2026 | 25,000 | 26,202 |
Louisville and Jefferson County Metropolitan Government, Norton Healthcare, Inc. Series 2016A, Rev., 5.00%, 10/1/2027 | 25,000 | 25,843 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Kentucky — continued | ||
Louisville and Jefferson County Metropolitan Sewer District Green Bond Certified Series 2022 A, Rev., 5.00%, 5/15/2024 | 75,000 | 75,637 |
Scott County School District Finance Corp. Rev., 5.00%, 6/1/2025 | 20,000 | 20,491 |
University of Kentucky, General Receipt Series 2014A, Rev., 4.00%, 4/1/2024 (b) | 175,000 | 175,366 |
University of Kentucky, General Receipts Series 2015B, Rev., 5.00%, 10/1/2024 | 20,000 | 20,280 |
Total Kentucky | 20,163,189 | |
Louisiana — 2.6% | ||
Ascension Parish School Board Series 2020, GO, 4.00%, 3/1/2024 | 25,000 | 25,037 |
City of New Orleans Water System Series 2014, Rev., 5.00%, 12/1/2024 (b) | 45,000 | 45,779 |
City of Shreveport, Water and Sewer, Junior Lien Series 2018C, Rev., 5.00%, 12/1/2023 | 1,175,000 | 1,175,000 |
East Baton Rouge Sewerage Commission Series 2014B, Rev., 5.00%, 2/1/2025 (b) | 270,000 | 276,097 |
Jefferson Parish School Board Series 2015, GO, 5.00%, 3/1/2024 | 50,000 | 50,203 |
Louisiana Local Government Environmental Facilities and Community Development Authority, LCTCS Act 360 Project Series 2014, Rev., 5.00%, 10/1/2024 (b) | 100,000 | 101,425 |
Louisiana Local Government Environmental Facilities and Community Development Authority, LCTCS Act 391 Project Series 2017, Rev., 5.00%, 10/1/2024 | 250,000 | 252,930 |
Louisiana Public Facilities Authority, Elementus Minerals, LLC Project Series 2023, Rev., 5.00%, 11/1/2025 (c) (e) | 12,400,000 | 12,577,775 |
Louisiana Public Facilities Authority, Hurricane Recovery Program Series 2014, Rev., 5.00%, 6/1/2024 | 120,000 | 121,020 |
Louisiana Public Facilities Authority, Tulane University Project | ||
Series 2016A, Rev., 5.00%, 12/15/2023 | 50,000 | 50,023 |
Series 2016A, Rev., 5.00%, 12/15/2026 | 70,000 | 73,978 |
Louisiana State University and Agricultural and Mechanical College, Auxiliary Facilities System Series 2016A, Rev., 5.00%, 7/1/2024 | 75,000 | 75,574 |
State of Louisiana | ||
Series 2014A, GO, 4.00%, 2/1/2024 | 12,095,000 | 12,106,684 |
Series 2014C, GO, 5.00%, 8/1/2025 | 65,000 | 65,773 |
State of Louisiana Gasoline & Fuels Tax Series 2014B, Rev., 4.00%, 5/1/2024 (b) | 20,000 | 20,054 |
State of Louisiana Gasoline and Fuels Tax | ||
Series 2014B, Rev., 5.00%, 5/1/2024 (b) | 30,000 | 30,201 |
Series A, Rev., 4.50%, 5/1/2025 (b) | 31,500,000 | 32,079,827 |
State of Louisiana Gasoline and Fuels Tax, Second Lien Series 2022A, Rev., (SOFR + 0.50%), 4.23%, 12/8/2023 (d) | 7,880,000 | 7,718,220 |
Total Louisiana | 66,845,600 | |
Maine — 0.0% ^ | ||
Maine Health and Higher Educational Facilities Authority, Mainehealth Series 2020A, Rev., 5.00%, 7/1/2026 | 35,000 | 36,389 |
Maine Municipal Bond Bank Series 2014C, Rev., 5.00%, 11/1/2024 | 25,000 | 25,425 |
Maine School Administrative District No. 51 GO, 4.00%, 8/1/2025 | 50,000 | 50,700 |
University of Maine System Rev., 5.00%, 3/1/2025 | 55,000 | 56,169 |
Total Maine | 168,683 | |
Maryland — 1.1% | ||
County of Baltimore Series 2016, GO, 5.00%, 2/1/2024 | 40,000 | 40,116 |
County of Baltimore, Consolidated Public Improvement GO, 5.00%, 2/1/2025 | 25,000 | 25,565 |
County of Charles Series 2016, GO, 5.00%, 10/1/2024 | 100,000 | 101,581 |
County of Montgomery | ||
Series 2014A, GO, 5.00%, 11/1/2024 | 45,000 | 45,790 |
Series 2014A, GO, 5.00%, 11/1/2024 (b) | 25,000 | 25,416 |
Series 2015 B, GO, 5.00%, 12/1/2024 | 150,000 | 150,216 |
County of Montgomery, Consolidated Public Improvement Series 2015B, GO, 5.00%, 12/1/2023 | 115,000 | 115,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Maryland — continued | ||
County of Montgomery, Trinity Health Credit Group Series 2013MD, Rev., VRDO, 3.81%, 3/1/2024 (c) | 14,675,000 | 14,675,000 |
County of Prince George's, Consolidated Public Improvement | ||
Series 2013A, GO, 3.00%, 3/1/2024 | 30,000 | 29,987 |
Series 2014A, GO, 4.00%, 9/1/2024 | 30,000 | 30,207 |
County of Prince George's, Maryland Chesapeake Lighthouse Charter School Project Series A, Rev., 7.00%, 12/1/2024 (b) | 1,000,000 | 1,053,515 |
Maryland Community Development Administration, Housing and Community Development Series 2019A, Rev., 2.10%, 3/1/2024 | 20,000 | 19,864 |
Maryland Health and Higher Educational Facilities Authority, Lifebridge Health Issue Rev., 5.00%, 7/1/2025 | 45,000 | 46,061 |
Maryland Health and Higher Educational Facilities Authority, Medstar Health Issue | ||
Rev., 5.00%, 8/15/2024 | 30,000 | 30,280 |
Series 2013A, Rev., 5.00%, 8/15/2024 | 570,000 | 570,301 |
Series 2020B-1, Rev., 5.00%, 7/1/2025 (c) | 900,000 | 914,090 |
Maryland Health and Higher Educational Facilities Authority, Peninsula Regional Medical Center Series 2015, Rev., 5.00%, 7/1/2024 (b) | 9,320,000 | 9,377,103 |
Maryland Stadium Authority, Construction and Revitalization Program Series 2018A, Rev., 5.00%, 5/1/2024 | 25,000 | 25,189 |
State of Maryland Series 2016, GO, 4.00%, 6/1/2028 | 25,000 | 25,030 |
State of Maryland Department of Transportation Series 2022B, Rev., 5.00%, 12/1/2023 | 125,000 | 125,000 |
State of Maryland Department of Transportation, Second Issue Rev., 5.00%, 6/1/2025 | 65,000 | 65,060 |
Total Maryland | 27,490,371 | |
Massachusetts — 1.8% | ||
Bristol-Plymouth Regional Vocational Technical School District GO, BAN, 4.50%, 2/28/2024 | 6,000,000 | 6,018,680 |
City of Boston Series 2013B, GO, 4.00%, 1/1/2024 | 20,000 | 20,014 |
City of Chicopee Series 2016, GO, 4.00%, 8/15/2024 | 30,000 | 30,185 |
City of Woburn, Municipal Purpose Loan GO, 2.63%, 11/15/2025 | 100,000 | 98,385 |
Commonwealth of Massachusetts Series 2015A, GO, 5.00%, 5/1/2024 | 80,000 | 80,110 |
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Series 2014A, Rev., GAN, 5.00%, 6/15/2025 | 25,000 | 25,259 |
Commonwealth of Massachusetts Federal Highway, Accelerated Bridge Program Series 2014A, Rev., GAN, 5.00%, 6/15/2024 | 25,000 | 25,243 |
Massachusetts Development Finance Agency Series 2017 H, Rev., 5.00%, 1/1/2024 (b) | 70,000 | 70,088 |
Massachusetts Development Finance Agency, Caregroup Issue | ||
Series 2015H-1, Rev., 5.00%, 7/1/2024 | 500,000 | 504,029 |
Series 2015H-1, Rev., 5.00%, 7/1/2025 | 80,000 | 81,899 |
Massachusetts Development Finance Agency, Children's Hospital Corp Obligated Group Series 2014P, Rev., 5.00%, 10/1/2024 (b) | 17,000,000 | 17,263,143 |
Massachusetts Development Finance Agency, Partners Healthcare System Issue | ||
Series 2019T-1, Rev., (SIFMA Municipal Swap Index Yield + 0.60%), 3.58%, 12/14/2023 (d) (e) | 1,075,000 | 1,064,532 |
Series 2017S-4, Rev., 5.00%, 1/25/2024 (c) | 200,000 | 200,430 |
Series 2017S-2, Rev., 5.00%, 1/30/2025 (c) | 375,000 | 381,688 |
Massachusetts Development Finance Agency, Salem Community Corp. Rev., 5.00%, 1/1/2024 | 345,000 | 344,731 |
Massachusetts Housing Finance Agency, Sustainability Bonds Series 2020A-3, Rev., FHA, 0.88%, 12/1/2023 | 180,000 | 180,000 |
Massachusetts School Building Authority, Dedicated Sales Tax | ||
Series 2018A, Rev., 5.00%, 2/15/2024 (b) | 20,000 | 20,069 |
Series 2018A, Rev., 5.00%, 2/15/2028 | 30,000 | 30,085 |
Massachusetts State College Building Authority | ||
Series 2017D, Rev., 5.00%, 5/1/2024 | 45,000 | 45,348 |
Series 2016A, Rev., 4.00%, 5/1/2025 | 20,000 | 20,298 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Massachusetts — continued | ||
Massachusetts Transportation Trust Fund Metropolitan Highway System, Senior Series 2019A, Rev., 5.00%, 1/1/2024 | 30,000 | 30,040 |
Massachusetts Water Resources Authority | ||
Series 2014F, Rev., 5.00%, 8/1/2024 (b) | 30,000 | 30,368 |
Series 2014F, Rev., 5.00%, 8/1/2024 | 5,000 | 5,063 |
Montachusett Regional Transit Authority Rev., RAN, GTD, 4.50%, 7/26/2024 | 11,000,000 | 11,041,548 |
Southeastern Massachusetts Regional 911 District GO, BAN, 5.00%, 10/10/2024 | 1,739,855 | 1,756,369 |
Town of Hatfield GO, BAN, 4.50%, 5/16/2024 | 2,290,000 | 2,299,539 |
Town of Marshfield, Municipal Purpose Loan GO, 5.00%, 11/1/2024 | 25,000 | 25,037 |
Town of Middleton Series 2021, GO, 5.00%, 12/15/2023 | 65,000 | 65,036 |
Town of Middleton, Municipal Purpose Loan GO, 2.50%, 8/15/2025 | 40,000 | 39,201 |
Town of Randolph GO, BAN, 4.75%, 6/27/2024 | 3,303,800 | 3,320,016 |
Town of Tewksbury, Municipal Purpose Loan GO, 4.00%, 1/15/2025 | 25,000 | 25,303 |
Town of West Springfield GO, BAN, 4.75%, 6/20/2024 | 1,430,000 | 1,435,981 |
University of Massachusetts Building Authority Series 1, Rev., 5.00%, 11/1/2024 (b) | 45,000 | 45,708 |
Total Massachusetts | 46,623,425 | |
Michigan — 3.2% | ||
City of Battle Creek Series 2018, GO, 5.00%, 5/1/2024 | 25,000 | 25,158 |
City of Brighton Series 2021, GO, 4.00%, 10/1/2024 | 80,000 | 80,521 |
City of Detroit Series 2004A, Rev., AGM, 5.25%, 7/1/2024 | 25,000 | 25,287 |
City of Grand Rapids Sanitary Sewer System Series 2014, Rev., 5.00%, 1/1/2024 (b) | 100,000 | 100,126 |
City of Grand Rapids, Capital Improvement, Limited Tax GO, 5.00%, 4/1/2024 | 50,000 | 50,269 |
City of Lathrup Village, Limited Tax GO, 5.00%, 10/1/2025 | 45,000 | 46,528 |
County of Jackson, Transportation GO, 2.00%, 5/1/2024 | 250,000 | 248,121 |
Grand Valley State University | ||
Series 2014B, Rev., 5.00%, 12/1/2023 | 310,000 | 310,000 |
Series 2016A, Rev., 5.00%, 12/1/2024 | 670,000 | 681,198 |
Series 2016A, Rev., 5.00%, 12/1/2027 | 1,625,000 | 1,667,990 |
Great Lakes Water Authority, Water Supply System, Second Lien Series 2018A, Rev., 5.00%, 7/1/2024 | 55,000 | 55,547 |
Kalamazoo Hospital Finance Authority, Bronson Healthcare Group, Inc. Rev., 5.00%, 5/15/2024 (b) | 5,000 | 5,037 |
Karegnondi Water Authority, Water and Supply System Series 2014A, Rev., 5.00%, 11/1/2026 | 125,000 | 125,097 |
Kent Hospital Finance Authority, Mary Free Bed Rehabilitation Hospital | ||
Series 2021A, Rev., 5.00%, 4/1/2024 | 540,000 | 541,521 |
Series 2021A, Rev., 5.00%, 4/1/2025 | 565,000 | 572,526 |
L'Anse Creuse Public Schools Series 2015, GO, Q-SBLF, 5.00%, 5/1/2025 (b) | 50,000 | 51,332 |
Linden Community School District, School Building and Site, Unlimited Tax Series 2021I, GO, Q-SBLF, 4.00%, 5/1/2025 | 30,000 | 30,310 |
Livonia Municipal Building Authority, Limited Tax Rev., 4.00%, 5/1/2024 | 40,000 | 40,121 |
Michigan Finance Authority | ||
Series 2014, Rev., 5.00%, 6/1/2024 (b) | 560,000 | 564,843 |
Series 2015A, Rev., 5.00%, 8/1/2024 (b) | 140,000 | 141,579 |
Series 2018B, Rev., 5.00%, 10/1/2024 | 70,000 | 71,066 |
Michigan Finance Authority, Ascension Senior Credit Group Series 2016E-1, Rev., 4.00%, 8/15/2024 (c) | 60,000 | 60,143 |
Michigan Finance Authority, Beaumont Health Credit Group | ||
Series 2022A, Rev., 5.00%, 4/15/2024 | 500,000 | 502,774 |
Series 2015A, Rev., 5.00%, 8/1/2024 (b) | 245,000 | 247,763 |
Michigan Finance Authority, Clean Water Revolving Fund Series 2016B, Rev., 5.00%, 10/1/2024 | 150,000 | 152,285 |
Michigan Finance Authority, Detroit Regional Convention Facility Authority Series 2014H-1, Rev., 5.00%, 10/1/2024 | 305,000 | 305,363 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Michigan — continued | ||
Michigan Finance Authority, Henry Ford Health System | ||
Series 2016, Rev., 5.00%, 11/15/2025 | 40,000 | 41,072 |
Rev., 5.00%, 11/15/2027 | 20,000 | 20,784 |
Michigan Finance Authority, Hospital Trinity Health Credit Group | ||
Series 2015MI, Rev., 5.50%, 12/1/2026 | 635,000 | 655,581 |
Series 2017A-MI, Rev., 5.00%, 12/1/2027 | 60,000 | 64,402 |
Series 2015MI, Rev., 5.50%, 12/1/2027 | 1,935,000 | 1,998,334 |
Michigan Finance Authority, Local Government Loan Program, Detroit Water and Sewerage Department, Sewage Disposal Series 2014C-3, Rev., AGM, 5.00%, 7/1/2027 | 175,000 | 176,221 |
Michigan Finance Authority, Local Government Program Second Lien, Detroit Water And Sewerage Department Sewage Disposal System Series 2014C-7, Rev., NATL - RE, 5.00%, 7/1/2028 | 1,000,000 | 1,006,467 |
Michigan Finance Authority, Midmichigan Health Series 2014, Rev., 5.00%, 6/1/2024 (b) | 40,000 | 40,346 |
Michigan Finance Authority, Trinity Health Credit Group | ||
Series 2015MI, Rev., 5.00%, 12/1/2023 | 100,000 | 100,000 |
Series 2017 A-MI, Rev., 5.00%, 12/1/2023 | 100,000 | 100,000 |
Series 2019MI-1, Rev., 5.00%, 12/1/2023 | 125,000 | 125,000 |
Series 2017A-MI, Rev., 5.00%, 12/1/2024 | 285,000 | 289,484 |
Series 2019MI-2, Rev., 5.00%, 2/1/2025 (c) | 6,410,000 | 6,516,573 |
Series 2017A-MI, Rev., 5.00%, 12/1/2026 | 25,000 | 26,379 |
Michigan State Building Authority, Facilities Program Series 2023-I, Rev., VRDO, 3.41%, 12/1/2023 (c) | 20,000,000 | 20,000,000 |
Michigan State Building Authority, Multi Modal Program Series III, Rev., VRDO, 3.41%, 12/13/2023 (c) | 8,635,000 | 8,635,000 |
Michigan State Hospital Finance Authority, Ascension Health Credit Group | ||
Series 2010F-3, Rev., 4.00%, 7/1/2024 (c) | 100,000 | 100,203 |
Series 1999B-4, Rev., 5.00%, 11/15/2027 | 770,000 | 789,478 |
Michigan State Hospital Finance Authority, Trinity Health Credit Group Series 2008C, Rev., 5.00%, 12/1/2024 | 610,000 | 619,598 |
Michigan Strategic Fund Series 2014, Rev., 5.00%, 3/1/2024 | 235,000 | 235,862 |
Michigan Strategic Fund Limited Obligation, Facility For Rare Isotope Beams Projects At Michigan State University Series 2014, Rev., 5.00%, 3/1/2024 | 45,000 | 45,180 |
North Kent Sewer Authority Series 2016, Rev., 5.00%, 11/1/2024 | 755,000 | 767,292 |
Northern Michigan University Series 2018A, Rev., 5.00%, 12/1/2023 | 310,000 | 310,000 |
Portage Public Schools Series 2016, GO, 5.00%, 11/1/2024 | 25,000 | 25,414 |
Rib Floater Trust Various States Series 46, Rev., VRDO, LOC : Barclays Bank plc, 2.22%, 12/1/2023 (c) (e) | 30,000,000 | 30,000,000 |
Royal Oak Hospital Finance Authority Series 2014D, Rev., 5.00%, 3/1/2024 (b) | 1,620,000 | 1,626,300 |
Royal Oak Hospital Finance Authority, William Beaumont Hospital Series 2014D, Rev., 5.00%, 3/1/2024 (b) | 50,000 | 50,194 |
Saginaw City School District, Unlimited Tax GO, Q-SBLF, 5.00%, 5/1/2024 | 35,000 | 35,233 |
Schoolcraft Community College District, Limited Tax GO, 3.00%, 5/1/2024 | 115,000 | 114,791 |
South Lake Schools, School Building and Site GO, Q-SBLF, 4.00%, 11/1/2024 | 25,000 | 25,068 |
State of Michigan | ||
Series 2015A, GO, 5.00%, 12/1/2023 | 200,000 | 200,000 |
Series 2016, Rev., GAN, 5.00%, 3/15/2024 | 195,000 | 196,012 |
Series 2016, Rev., 5.00%, 3/15/2025 | 25,000 | 25,626 |
Wayne County Airport Authority Series C, Rev., 5.00%, 12/1/2026 | 210,000 | 222,513 |
Wayne State University Series 2019A, Rev., 5.00%, 11/15/2024 | 210,000 | 213,163 |
Western Michigan University Series 2015A, Rev., 5.00%, 11/15/2024 | 40,000 | 40,636 |
Total Michigan | 82,140,711 | |
Minnesota — 1.6% | ||
City of Minneapolis, Improvement and Various Purpose GO, 4.00%, 12/1/2023 | 45,000 | 45,000 |
City of New Hope, Hennepin County Series 2018A, GO, 4.00%, 2/1/2024 | 50,000 | 50,055 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Minnesota — continued | ||
City of Rochester | ||
Series 2015B, GO, 5.00%, 12/1/2023 | 20,000 | 20,000 |
Series 2015A, GO, 5.00%, 2/1/2024 | 40,000 | 40,099 |
City of St Cloud Series 2014B, Rev., 5.00%, 5/1/2024 | 410,000 | 412,616 |
City of St. Cloud, Infrastructure Management Fund Series 2013A, GO, 3.00%, 2/1/2025 | 45,000 | 44,939 |
City of West St. Paul Series 2017A, GO, 4.00%, 2/1/2025 | 30,000 | 30,270 |
County of Anoka, Capital Improvement Series 2020A, GO, 5.00%, 2/1/2024 | 40,000 | 40,112 |
County of Clay Series 2017A, GO, 5.00%, 2/1/2025 | 50,000 | 51,129 |
County of Lyon Series 2015A, GO, 5.00%, 2/1/2024 | 25,000 | 25,070 |
County of Martin Series 2021A, GO, 3.00%, 12/15/2023 | 40,000 | 39,995 |
County of St. Louis, Capital Improvement | ||
Series 2015B, GO, 3.00%, 12/1/2023 | 75,000 | 75,000 |
Series 2016B, GO, 5.00%, 12/1/2023 | 35,000 | 35,000 |
Duluth Independent School District No. 709 | ||
COP, 4.00%, 2/1/2027 | 50,000 | 50,620 |
COP, 4.00%, 2/1/2028 | 2,750,000 | 2,781,440 |
Series 2019B, COP, 5.00%, 2/1/2028 | 395,000 | 424,179 |
Hopkins Independent School District No. 270 Series 2018B, GO, 5.00%, 2/1/2024 | 100,000 | 100,283 |
Housing & Redevelopment Authority of The City of St Paul Minnesota Series 2015A, Rev., 5.00%, 11/15/2025 (b) | 20,000 | 20,549 |
Metropolitan Council, Minneapolis St. Paul Metropolitan Area Series 2022C, GO, 5.00%, 3/1/2024 | 100,000 | 100,445 |
Minneapolis-St. Paul Metropolitan Airports Commission | ||
Series 2014A, Rev., 5.00%, 1/1/2024 | 70,000 | 70,075 |
Series B, Rev., 5.00%, 1/1/2024 | 25,000 | 25,031 |
Minnesota Higher Education Facilities Authority, Cartleton College Series 2017, Rev., 5.00%, 3/1/2024 | 45,000 | 45,182 |
Minnesota Housing Finance Agency Series 2020D, Rev., 4.00%, 8/1/2024 | 125,000 | 125,474 |
Minnesota Municipal Gas Agency Series 2022B, Rev., LIQ : Royal Bank of Canada, (SOFR + 1.00%), 4.57%, 12/8/2023 (d) | 35,000,000 | 34,638,621 |
Northern Municipal Power Agency Series 2013A, Rev., 5.00%, 1/1/2024 | 50,000 | 50,053 |
Rochester Independent School District No. 535 Series 2014A, COP, 3.00%, 2/1/2024 | 25,000 | 24,980 |
Rosemount-Apple Valley-Eagan Independent School District No. 196 Series 2016A, GO, 5.00%, 2/1/2025 | 35,000 | 35,758 |
Sartell-St Stephen Independent School District No. 748 Series 2016A, GO, 5.00%, 2/1/2024 | 30,000 | 30,080 |
Sauk Rapids-Rice Independent School District No. 47 Series 2015 A, GO, 5.00%, 2/1/2025 | 175,000 | 175,425 |
Southern Minnesota Municipal Power Agency Series 1994A, Rev., NATL - RE, Zero Coupon, 1/1/2024 | 70,000 | 69,801 |
St Paul Port Authority, State of Minnesota Freeman Office Building Series 2013-3, Rev., 5.00%, 12/1/2024 | 125,000 | 125,179 |
St. Cloud Independent School District No. 742 Series 2021A, COP, 3.00%, 2/1/2025 | 125,000 | 124,453 |
St. Louis Park Independent School District No. 283 Series 2019 A, GO, 5.00%, 2/1/2024 | 50,000 | 50,141 |
St. Paul Independent School District No. 625 Series 2020C, COP, 5.00%, 2/1/2024 | 35,000 | 35,099 |
St. Paul Port Authority Series 2013-2, Rev., 5.00%, 12/1/2023 | 200,000 | 200,000 |
St. Paul Port Authority, State of Minnesota Freeman Office Building Series 2013-2, Rev., 5.00%, 12/1/2024 | 20,000 | 20,029 |
State of Minnesota Series 2014B, GO, 4.00%, 8/1/2025 | 75,000 | 75,505 |
Stillwater Independent School District No. 834 Series 2015 A, GO, 5.00%, 2/1/2024 | 30,000 | 30,080 |
Total Minnesota | 40,337,767 | |
Mississippi — 0.2% | ||
City of Ridgeland GO, 4.00%, 8/1/2024 | 25,000 | 25,135 |
Madison County School District GO, 5.00%, 3/1/2024 | 25,000 | 25,104 |
Mississippi Business Finance Corp., Waste Management, Inc. Project Rev., 0.70%, 9/1/2026 (c) | 1,250,000 | 1,131,755 |
Mississippi Development Bank, Department of Corrections Walnut Grove Correctional Facility Refunding Bonds Project Series A, Rev., 5.00%, 8/1/2026 | 35,000 | 36,581 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Mississippi — continued | ||
Mississippi Development Bank, Harrison County Series 2013A, Rev., 5.00%, 1/1/2026 | 2,190,000 | 2,273,782 |
Mississippi Development Bank, Madison County, Mississippi Highway Refunding Project Series 2013C, Rev., 5.00%, 1/1/2024 | 20,000 | 20,024 |
Mississippi Development Bank, Rankin County School District Project | ||
Rev., 5.00%, 6/1/2024 | 30,000 | 30,229 |
Rev., 5.00%, 6/1/2025 | 35,000 | 35,834 |
Rankin County School District, Limited Tax GO, 5.00%, 8/1/2025 | 25,000 | 25,771 |
State of Mississippi | ||
Series 2013B, GO, 5.00%, 12/1/2023 (b) | 200,000 | 200,000 |
Series 2020B, GO, 5.00%, 9/1/2024 | 150,000 | 152,068 |
Series 2015F, GO, 5.00%, 11/1/2025 (b) | 70,000 | 72,671 |
State of Mississippi, Tax-Exempt | ||
Series 2012H, GO, 4.00%, 12/1/2023 | 25,000 | 25,000 |
Series 2017A, GO, 5.00%, 10/1/2024 | 25,000 | 25,375 |
University of Mississippi Educational Building Corp., Facilities Refinancing Project Rev., 5.00%, 10/1/2024 | 195,000 | 198,002 |
Total Mississippi | 4,277,331 | |
Missouri — 1.7% | ||
Cape Girardeau School District No. 63 GO, 4.00%, 3/1/2025 | 25,000 | 25,223 |
City of Chesterfield COP, 5.00%, 12/1/2023 | 75,000 | 75,000 |
City of Kansas City | ||
Series 2019A, Rev., 5.00%, 12/1/2023 | 35,000 | 35,000 |
Series 2017C, Rev., 5.00%, 9/1/2027 | 60,000 | 64,100 |
City of Kansas City, Downtown Arena Project Series E, Rev., 5.00%, 4/1/2028 | 30,000 | 30,660 |
City of Kansas City, Missouri Special Obligation Refunding and Improvement, Main Streetcar Extension Project Series 2022C, Rev., 5.00%, 9/1/2025 | 160,000 | 164,882 |
City of Kansas City, Special Obligation Series E, Rev., Zero Coupon, 2/1/2024 | 275,000 | 273,282 |
City of St Louis Airport Series 2005, Rev., NATL - RE, 5.50%, 7/1/2027 | 75,000 | 81,352 |
County of Clay Series 2018A, COP, 4.00%, 5/1/2024 (b) | 30,000 | 30,105 |
County of Dunklin Rev., 3.00%, 12/1/2026 | 400,000 | 398,231 |
County of Greene Series 2022A, COP, 5.00%, 3/1/2024 | 25,000 | 25,100 |
County of Jackson, Special Obligation Rev., 4.00%, 12/1/2023 | 35,000 | 35,000 |
Fort Zumwalt School District Series 2022, GO, 5.00%, 3/1/2024 | 100,000 | 100,411 |
Health & Educational Facilities Authority of the State of Missouri | ||
Series 2021 C, Rev., 5.00%, 5/1/2028 (c) | 18,060,000 | 19,333,360 |
Rev., 5.00%, 11/15/2028 | 200,000 | 207,260 |
Health and Educational Facilities Authority of the State of Missouri, BJC Health System Series 2021B, Rev., 4.00%, 5/1/2026 (c) | 5,510,000 | 5,579,989 |
Health and Educational Facilities Authority of the State of Missouri, Children's Mercy Hospital Obligated Group | ||
Series 2016, Rev., 5.00%, 5/15/2024 | 680,000 | 685,050 |
Rev., 5.00%, 5/15/2025 | 60,000 | 61,296 |
Health and Educational Facilities Authority of the State of Missouri, Mercy Health Series 2018A, Rev., 5.00%, 6/1/2027 | 25,000 | 26,594 |
Health and Educational Facilities Authority of the State of Missouri, SSM Health Care Obligated Group Series 2014A, Rev., 5.00%, 6/1/2024 (b) | 115,000 | 115,966 |
Jasper County Reorganized School District No. R-IX Carthage, Missouri Direct Deposit Program Series 2013, GO, 4.00%, 3/1/2024 | 2,625,000 | 2,629,926 |
Joplin Schools, Missouri Direct Deposit Program GO, 4.00%, 3/1/2025 | 100,000 | 100,031 |
Missouri Joint Municipal Electric Utility Commission |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Missouri — continued | ||
Series 2014A, Rev., 5.00%, 1/1/2024 | 5,875,000 | 5,881,261 |
Series 2015A, Rev., 5.00%, 12/1/2024 | 20,000 | 20,324 |
Series 2015A, Rev., 5.00%, 6/1/2028 | 100,000 | 102,279 |
Missouri State Environmental Improvement and Energy Resources Authority, Water Pollution Control and Drinking Water Series 2013A, Rev., 5.00%, 7/1/2024 | 160,000 | 160,224 |
St. Charles County Public Water Supply District No. 2 | ||
COP, 3.00%, 12/1/2023 | 45,000 | 45,000 |
Series 2016B, COP, 5.00%, 12/1/2023 | 50,000 | 50,000 |
St. Louis County Library District COP, 4.00%, 4/1/2027 | 2,010,000 | 2,010,659 |
Tender Option Bond Trust Receipts/Certificates Series 2018-XG0176, Rev., VRDO, LIQ : Royal Bank of Canada, 3.41%, 12/13/2023 (c) (e) | 3,830,000 | 3,830,000 |
Total Missouri | 42,177,565 | |
Nebraska — 1.3% | ||
Central Plains Energy Project, Gas Project No. 4 Series 2018A, Rev., 5.00%, 12/28/2023 (c) | 11,650,000 | 11,680,570 |
City of Lincoln, Stormwater Drainage and Flood Management System GO, 3.00%, 12/15/2023 | 40,000 | 39,996 |
City of Omaha | ||
Series 2018 A, GO, 5.00%, 1/15/2024 | 55,000 | 55,115 |
Series 2021, GO, 5.00%, 4/15/2024 | 50,000 | 50,343 |
City of Omaha, Sanitary Sewerage System Series 2020A, Rev., 4.00%, 4/1/2025 | 35,000 | 35,462 |
County of Douglas, Creighton University Projects Series 2021B, Rev., (SIFMA Municipal Swap Index Yield + 0.53%), 3.51%, 12/14/2023 (d) | 15,935,000 | 15,660,714 |
Douglas County Hospital Authority No. 2, Children's Obligated Group Series 2020B, Rev., 5.00%, 11/15/2025 (c) | 2,100,000 | 2,144,787 |
Nebraska Public Power District | ||
Series 2021C, Rev., 5.00%, 1/1/2024 | 195,000 | 195,244 |
Series B, Rev., 5.00%, 1/1/2024 | 60,000 | 60,075 |
Series 2012B, Rev., 5.00%, 1/1/2025 | 10,000 | 10,013 |
Series A-1, Rev., 5.00%, 1/1/2025 | 35,000 | 35,674 |
Series 2016A, Rev., 5.00%, 1/1/2026 | 135,000 | 140,165 |
Series B, Rev., 5.00%, 1/1/2026 | 20,000 | 20,765 |
Series 2016A, Rev., 5.00%, 1/1/2027 | 35,000 | 36,350 |
Series 2023 A, Rev., 5.00%, 7/1/2028 | 100,000 | 108,559 |
Papillion-La Vista School District No. 27 Series 2020B, GO, 4.00%, 12/1/2023 | 35,000 | 35,000 |
Public Power Generation Agency Series 2015A, Rev., 5.00%, 1/1/2025 | 165,000 | 167,653 |
Public Power Generation Agency, Whelan Energy Center Unit 2 Series 2015A, Rev., 5.00%, 1/1/2026 | 845,000 | 859,168 |
Southern Public Power District Series 2015, Rev., 5.00%, 12/15/2024 (b) | 1,615,000 | 1,645,656 |
State of Nebraska Series 2023A, COP, 5.00%, 4/1/2024 | 175,000 | 175,983 |
University of Nebraska, OMAHA Student Housing Project Rev., 3.25%, 5/15/2024 (b) | 60,000 | 59,998 |
Total Nebraska | 33,217,290 | |
Nevada — 0.1% | ||
Clark County School District | ||
Series 2015D, GO, 5.00%, 6/15/2024 | 115,000 | 116,019 |
Series 2016B, GO, 5.00%, 6/15/2024 | 165,000 | 166,462 |
Series 2016E, GO, 5.00%, 6/15/2024 | 105,000 | 105,930 |
Series 2018A, GO, 5.00%, 6/15/2024 | 120,000 | 121,063 |
Series 2015C, GO, 5.00%, 6/15/2025 | 385,000 | 395,423 |
Series 2016B, GO, 5.00%, 6/15/2026 | 150,000 | 157,132 |
Series 2021C, GO, 5.00%, 6/15/2026 | 55,000 | 57,615 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Nevada — continued | ||
Clark County School District, Limited Tax | ||
Series 2017A, GO, 5.00%, 6/15/2026 | 65,000 | 68,090 |
Series 2015C, GO, 5.00%, 6/15/2028 | 260,000 | 269,491 |
Series 2017C, GO, 5.00%, 6/15/2028 | 150,000 | 161,280 |
Clark County School District, Limited Tax, Various Purpose Series 2016F, GO, 3.00%, 6/15/2026 | 100,000 | 99,677 |
County of Clark Passenger Facility Charge Series 2022B, Rev., 5.00%, 7/1/2024 | 20,000 | 20,201 |
County of Clark Passenger Facility Charge, Las Vegas Mccarran International Series 2019E, Rev., 5.00%, 7/1/2026 | 45,000 | 47,355 |
County of Clark, Department of Aviation, Nevada Airport System, Subordinate Lien | ||
Series 2019D, Rev., 5.00%, 7/1/2024 | 735,000 | 742,390 |
Series 2019D, Rev., 5.00%, 7/1/2025 | 40,000 | 41,167 |
County of Clark, Indexed Fuel And Subordinate Motor Vehicle Tax Series 2014, Rev., 5.00%, 7/1/2028 | 20,000 | 20,183 |
County of Clark, Limited Tax Series 2016B, GO, 5.00%, 11/1/2024 | 45,000 | 45,761 |
County of Clark, Park Improvement, Limited Tax GO, 5.00%, 12/1/2024 | 25,000 | 25,465 |
County of Clark, Transportation Improvement, Limited Tax | ||
Series 2018B, GO, 5.00%, 12/1/2023 | 20,000 | 20,000 |
Series 2018B, GO, 5.00%, 12/1/2025 | 35,000 | 36,360 |
County of Washoe Series 2018, Rev., 5.00%, 2/1/2024 | 280,000 | 280,769 |
State of Nevada Highway Improvement, Motor Vehicle Fuel Tax Rev., 5.00%, 12/1/2023 | 90,000 | 90,000 |
State of Nevada, Capital Improvement and Cultural Affairs | ||
Series 2015B, GO, 5.00%, 11/1/2024 | 25,000 | 25,436 |
Series 2015B, GO, 5.00%, 11/1/2025 | 20,000 | 20,551 |
State of Nevada, Limited Tax Series 2012-A, GO, 4.00%, 11/1/2024 | 55,000 | 55,037 |
Total Nevada | 3,188,857 | |
New Hampshire — 0.0% ^ | ||
New Hampshire Health and Education Facilities Authority Act, Southern New Hampshire University Series 2017, Rev., 5.00%, 1/1/2024 (b) | 50,000 | 50,061 |
Windham School District Series 2014A, GO, 5.00%, 7/15/2024 | 60,000 | 60,619 |
Total New Hampshire | 110,680 | |
New Jersey — 10.0% | ||
Bergen County Improvement Authority (The) | ||
Series 2014B, Rev., GTD, 5.00%, 2/15/2024 (b) | 30,000 | 30,106 |
Series 2023, Rev., GTD, 4.50%, 5/31/2024 | 3,983,229 | 4,007,524 |
Borough of Avalon, General Improvement Notes Water and Sewer Utility GO, BAN, 5.00%, 2/8/2024 | 20,000 | 20,046 |
Borough of Bellmawr County of Camden, New Jersey Bond, General Improvement Water Utility Note GO, BAN, 4.50%, 8/6/2024 | 6,693,506 | 6,732,691 |
Borough of Carteret Series 2023, GO, BAN, 4.75%, 5/31/2024 | 18,334,000 | 18,445,722 |
Borough of Chatham GO, BAN, 4.50%, 5/17/2024 | 4,571,630 | 4,592,093 |
Borough of Emerson GO, BAN, 4.50%, 7/26/2024 | 3,701,000 | 3,710,181 |
Borough of Englewood Cliffs GO, BAN, 4.50%, 8/8/2024 | 1,885,830 | 1,894,133 |
Borough of Glen Ridge GO, BAN, 4.50%, 7/11/2024 | 2,380,625 | 2,389,098 |
Borough of High Bridge GO, BAN, 5.00%, 6/13/2024 | 1,272,625 | 1,279,718 |
Borough of Kenilworth GO, BAN, 4.50%, 3/1/2024 | 7,632,000 | 7,643,309 |
Borough of Montvale GO, BAN, 4.50%, 4/11/2024 | 5,080,000 | 5,091,672 |
Borough of Mountainside GO, BAN, 5.00%, 7/19/2024 | 3,568,000 | 3,589,395 |
Borough of North Caldwell GO, BAN, 4.50%, 7/12/2024 | 2,885,000 | 2,901,162 |
Borough of Northvale GO, BAN, 5.00%, 9/13/2024 | 4,498,109 | 4,527,371 |
Borough of Ogdensburg GO, BAN, 4.50%, 7/26/2024 | 1,475,000 | 1,478,177 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
New Jersey — continued | ||
Borough of Palisades Park GO, BAN, 4.50%, 3/15/2024 | 5,363,000 | 5,368,297 |
Borough of Sussex GO, BAN, 4.50%, 7/19/2024 | 3,034,000 | 3,043,519 |
Borough of Union Beach GO, BAN, 4.50%, 4/23/2024 | 3,901,509 | 3,906,844 |
Brick Township Board of Education GO, 4.00%, 1/1/2025 | 35,000 | 35,289 |
Brick Township Municipal Utilities Authority (The) Series 2016 A, Rev., GTD, 5.00%, 12/1/2023 | 150,000 | 150,000 |
Burlington County Bridge Commission, Governmental Loan Program Series 2013A, Rev., GTD, 5.00%, 12/1/2023 | 80,000 | 80,000 |
Camden County Improvement Authority (The) | ||
Series 2017B, Rev., GTD, 4.00%, 1/15/2024 | 25,000 | 25,025 |
Series 2015A, Rev., GTD, 5.00%, 9/1/2024 | 25,000 | 25,358 |
Camden County Improvement Authority (The), City Hall Project Rev., GTD, 5.00%, 12/1/2025 | 30,000 | 31,237 |
Camden County Improvement Authority (The), Rowan University School Osteopathic Series 2013A, Rev., 5.00%, 12/1/2023 | 240,000 | 240,000 |
City of Jersey City Series 2014, GO, 5.00%, 12/1/2023 | 50,000 | 50,000 |
City of Linwood GO, BAN, 4.50%, 7/26/2024 | 1,862,600 | 1,867,697 |
City of Long Branch | ||
GO, BAN, 5.50%, 1/30/2024 | 40,000 | 40,142 |
Series 2020A, GO, 5.00%, 9/15/2025 | 30,000 | 30,965 |
City of Ocean City, General Improvement GO, 4.00%, 9/15/2025 | 40,000 | 40,606 |
City of Ventnor City GO, BAN, 4.50%, 7/10/2024 | 7,225,000 | 7,253,653 |
County of Atlantic GO, 0.50%, 6/1/2024 | 1,805,000 | 1,769,089 |
County of Gloucester Series 2021, GO, 5.00%, 3/1/2024 | 20,000 | 20,082 |
County of Hudson | ||
GO, 5.00%, 12/1/2023 | 25,000 | 25,000 |
Series B, GO, 4.00%, 7/1/2025 | 40,000 | 40,526 |
County of Ocean Series 2015, GO, 5.00%, 12/1/2023 | 25,000 | 25,000 |
Gloucester County Improvement Authority (The) Series 2013A, Rev., GTD, 5.00%, 9/1/2024 | 15,000 | 15,020 |
Hainesport Township School District GO, 5.00%, 1/15/2024 | 35,000 | 35,067 |
Hopewell Valley Regional School District GO, 3.25%, 1/15/2025 | 25,000 | 24,985 |
Hudson County Improvement Authority, Courthouse Project Rev., 4.00%, 10/1/2025 | 40,000 | 40,661 |
Jersey City Municipal Utilities Authority, Sewer Project Notes Series 2023A, Rev., 4.00%, 5/3/2024 | 34,300,000 | 34,349,454 |
Jersey City Municipal Utilities Authority, Water Project Notes Series 2023B, Rev., 4.00%, 5/3/2024 | 23,500,000 | 23,535,887 |
Middletown Township Board of Education GO, 2.25%, 8/1/2024 | 720,000 | 713,366 |
Monmouth County Improvement Authority (The) Rev., GTD, 4.00%, 3/15/2024 | 120,000 | 120,234 |
New Jersey Building Authority Series 2016A, Rev., 5.00%, 6/15/2024 | 75,000 | 75,657 |
New Jersey Economic Development Authority | ||
Series 2015A, Rev., 5.00%, 6/15/2024 | 350,000 | 352,876 |
Series 2023RRR, Rev., 5.00%, 3/1/2026 | 40,000 | 41,635 |
Series 2024SSS, Rev., 5.00%, 6/15/2026 (f) | 2,730,000 | 2,803,715 |
Series XX, Rev., 4.38%, 6/15/2027 | 25,000 | 25,363 |
Series 2024SSS, Rev., 5.00%, 6/15/2027 (f) | 1,600,000 | 1,666,476 |
New Jersey Economic Development Authority, School Facilities Construction | ||
Series 2012-II, Rev., 3.00%, 3/1/2024 | 350,000 | 349,590 |
Series 2018FFF, Rev., 5.00%, 6/15/2024 | 50,000 | 50,411 |
Series XX, Rev., 5.00%, 6/15/2024 | 800,000 | 806,575 |
Series 2019GGG, Rev., 5.25%, 9/1/2024 (e) | 7,000,000 | 7,093,602 |
Series 2014PP, Rev., AGM - CR, 5.00%, 6/15/2025 | 3,500,000 | 3,533,892 |
Series 2005N-1, Rev., AGM, 5.50%, 9/1/2025 | 195,000 | 202,627 |
New Jersey Educational Facilities Authority Series 2014, Rev., 5.00%, 6/15/2024 | 70,000 | 70,613 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
New Jersey — continued | ||
New Jersey Educational Facilities Authority, College of New Jersey Series 2015G, Rev., 5.00%, 7/1/2025 (b) | 35,000 | 36,026 |
New Jersey Educational Facilities Authority, Higher Educational Capital Improvement Series 2014A, Rev., 5.00%, 9/1/2024 | 75,000 | 75,924 |
New Jersey Health Care Facilities Financing Authority, Barnabas Health Obligated Group Series 2019B-2, Rev., 5.00%, 7/1/2025 (c) | 235,000 | 240,942 |
New Jersey Health Care Facilities Financing Authority, Hospital Asset Transformation Program Series 2017, Rev., 5.00%, 10/1/2024 | 1,000,000 | 1,013,759 |
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health Obligated Group | ||
Series 2019B-1, Rev., 5.00%, 7/1/2024 (c) | 1,260,000 | 1,271,303 |
Series 2016A, Rev., 5.00%, 7/1/2026 | 55,000 | 57,696 |
New Jersey Health Care Facilities Financing Authority, Valley Health System Obligated Rev., 5.00%, 7/1/2026 | 50,000 | 52,110 |
New Jersey Health Care Facilities Financing Authority, Virtua Health Obligated Group Series 2013, Rev., 5.00%, 7/1/2027 | 45,000 | 45,042 |
New Jersey Health Care Facilities Financing Authority, Virtual Health, Inc. | ||
Rev., 5.00%, 1/1/2024 (b) | 30,000 | 30,036 |
Rev., 5.00%, 7/1/2024 | 440,000 | 440,477 |
Rev., 5.00%, 7/1/2025 | 220,000 | 220,294 |
Rev., 5.00%, 7/1/2026 | 1,125,000 | 1,126,022 |
New Jersey Higher Education Student Assistance Authority, Senior Student Loan Series 2019A, Rev., 5.00%, 12/1/2024 | 40,000 | 40,649 |
New Jersey Housing and Mortgage Finance Agency, NBA-New Brunswick LLC Series 2022C-2, Rev., 3.13%, 8/1/2024 (c) | 5,100,000 | 5,052,557 |
New Jersey Infrastructure Bank, Environmental Infrastructure Series 2015A-R1, Rev., GTD, 5.00%, 9/1/2024 | 35,000 | 35,495 |
New Jersey Sports and Exposition Authority Series 2018A, Rev., 5.00%, 9/1/2024 | 210,000 | 212,308 |
New Jersey Transportation Trust Fund Authority, Capital Appreciation Series 2010A, Rev., Zero Coupon, 12/15/2028 | 400,000 | 336,053 |
New Jersey Transportation Trust Fund Authority, Transport System | ||
Series 2021 A, Rev., 5.00%, 6/15/2026 | 100,000 | 104,680 |
Series 2019 A, Rev., 5.00%, 12/15/2026 | 150,000 | 158,580 |
Series 2018 A, Rev., 5.00%, 12/15/2027 | 20,000 | 21,525 |
Series 2019 A, Rev., 5.00%, 12/15/2027 | 30,000 | 32,288 |
Series 2021 A, Rev., 5.00%, 6/15/2028 | 25,000 | 27,127 |
New Jersey Transportation Trust Fund Authority, Transportation Program | ||
Series 2014AA, Rev., 5.00%, 6/15/2025 | 650,000 | 655,889 |
Series 2023AA, Rev., 5.00%, 6/15/2025 | 2,000,000 | 2,051,483 |
New Jersey Transportation Trust Fund Authority, Transportation System | ||
Series 2008A, Rev., Zero Coupon, 12/15/2023 | 140,000 | 139,847 |
Series 2010D, Rev., 5.00%, 12/15/2023 | 2,065,000 | 2,065,912 |
Series 2005B, Rev., AMBAC, 5.25%, 12/15/2023 | 240,000 | 240,124 |
Series 2006A, Rev., 5.25%, 12/15/2023 | 335,000 | 335,173 |
Series 2010D, Rev., 5.25%, 12/15/2023 | 2,120,000 | 2,121,096 |
Series 2006A, Rev., 5.50%, 12/15/2023 | 155,000 | 155,092 |
Series 2013A, Rev., 5.00%, 6/15/2024 | 150,000 | 151,313 |
Series 2006C, Rev., AMBAC, Zero Coupon, 12/15/2024 | 2,515,000 | 2,425,011 |
New Jersey Turnpike Authority | ||
Series 2014A, Rev., 5.00%, 1/1/2027 | 2,310,000 | 2,326,863 |
Series 2014A, Rev., 5.00%, 1/1/2028 | 125,000 | 125,853 |
Passaic County Utilities Authority, Solid Waste Disposal Rev., GTD, 4.50%, 3/1/2024 | 75,000 | 75,228 |
Penns Grove-Carneys Point Regional School District GO, GAN, 4.50%, 7/3/2024 | 3,713,000 | 3,724,587 |
Pequannock Township Board of Education GO, 4.00%, 1/15/2025 | 50,000 | 50,458 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
New Jersey — continued | ||
Rutgers The State University of New Jersey Series 2016M, Rev., 5.00%, 5/1/2024 | 25,000 | 25,172 |
South Brunswick Township Board of Education GO, 5.00%, 8/1/2024 | 45,000 | 45,124 |
South Orange & Maplewood School District Series 2015, GO, 5.00%, 1/15/2024 | 75,000 | 75,148 |
State of New Jersey, COVID-19 Emergency Bonds Series 2020 A, GO, 5.00%, 6/1/2028 | 270,000 | 294,458 |
State of New Jersey, Various Purpose | ||
GO, 5.00%, 6/1/2024 | 20,000 | 20,182 |
GO, 5.00%, 6/1/2025 (b) | 65,000 | 66,797 |
Tobacco Settlement Financing Corp. | ||
Series 2018A, Rev., 5.00%, 6/1/2024 | 1,000,000 | 1,005,833 |
Series 2018A, Rev., 5.00%, 6/1/2026 | 265,000 | 272,299 |
Town of Westfield GO, BAN, 4.75%, 11/8/2024 (f) | 2,445,000 | 2,462,308 |
Township of Bloomfield, General Improvement and Water Utility GO, 5.00%, 2/1/2024 | 40,000 | 40,110 |
Township of Colts Neck GO, 4.00%, 11/15/2025 | 40,000 | 40,764 |
Township of Eastampton GO, BAN, 4.50%, 7/24/2024 | 3,232,000 | 3,243,662 |
Township of Hamilton | ||
GO, BAN, 5.00%, 2/13/2024 | 90,000 | 90,244 |
Series 2013, GO, 4.00%, 8/1/2024 | 50,000 | 50,026 |
Township of Harrison GO, 4.00%, 8/1/2025 | 50,000 | 50,660 |
Township of Hillsborough Series 2023A, GO, BAN, 5.00%, 2/15/2024 | 4,803,000 | 4,813,549 |
Township of Lawrence GO, BAN, 5.00%, 6/7/2024 | 2,710,000 | 2,723,058 |
Township of Little Falls, General Improvement GO, 4.00%, 8/15/2025 | 30,000 | 30,383 |
Township of Middle, General Improvement Sewer Utility GO, BAN, 4.50%, 9/5/2024 | 6,155,000 | 6,187,382 |
Township of Millburn GO, BAN, 5.00%, 1/26/2024 | 4,030,000 | 4,039,100 |
Township of Mount Holly Series 2023A, GO, BAN, 4.50%, 9/26/2024 | 2,568,000 | 2,582,282 |
Township of Parsippany-Troy Hills GO, BAN, 5.00%, 10/31/2024 | 8,250,000 | 8,356,689 |
Township of Pennsauken GO, BAN, 4.50%, 7/12/2024 | 2,089,900 | 2,097,377 |
Township of Readington, General Improvement GO, 5.00%, 1/15/2025 | 25,000 | 25,503 |
Township of Rochelle Park GO, BAN, 4.50%, 8/9/2024 | 3,024,000 | 3,035,102 |
Township of South Brunswick Series 2020, GO, 4.00%, 10/1/2024 | 200,000 | 200,733 |
Township of Stafford Series 2017, GO, 5.00%, 5/1/2024 | 30,000 | 30,206 |
Township of Tewksbury Series 2023A, GO, 4.50%, 5/14/2024 | 2,595,000 | 2,605,082 |
Township of Toms River, General Improvement, Golf Utility Improvement GO, 3.00%, 12/15/2023 | 45,000 | 44,993 |
Township of Washington GO, 4.00%, 3/1/2025 | 30,000 | 30,265 |
Township of West Deptford GO, 3.00%, 9/1/2026 | 100,000 | 100,037 |
Township of West Orange Series 203A, GO, 5.00%, 11/7/2024 | 15,000,000 | 15,219,174 |
Total New Jersey | 255,486,957 | |
New Mexico — 0.0% ^ | ||
Albuquerque Bernalillo County Water Utility Authority Series 2018, Rev., 5.00%, 7/1/2024 | 55,000 | 55,562 |
Albuquerque Municipal School District No. 12, School Building Series 2018, GO, 5.00%, 8/1/2024 | 100,000 | 101,102 |
City of Santa Fe, Wastewater Utility System Series 2019, Rev., 5.00%, 6/1/2024 | 125,000 | 126,167 |
New Mexico Finance Authority, Senior Lien Public Project Revolving Fund Series 2016C, Rev., 5.00%, 6/1/2024 | 25,000 | 25,236 |
New Mexico Finance Authority, State Transport Series B-2, Rev., 5.00%, 6/15/2024 | 20,000 | 20,196 |
New Mexico Finance Authority, Subordinate Lien Public Project Revolving Fund, Tax-Exempt | ||
Series 2017B, Rev., 3.50%, 6/15/2024 | 50,000 | 50,086 |
Series 2018C-1, Rev., 4.00%, 6/15/2024 | 30,000 | 30,147 |
New Mexico Hospital Equipment Loan Council, Presbyterian Health Care Services Series 2019B, Rev., 5.00%, 8/1/2025 (c) | 100,000 | 102,368 |
Santa Fe Public School District Series 2022A, GO, 5.00%, 8/1/2025 | 75,000 | 77,191 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
New Mexico — continued | ||
State of New Mexico Series B, GO, 5.00%, 3/1/2024 | 100,000 | 100,448 |
State of New Mexico Severance Tax Permanent Fund | ||
Series B, Rev., 4.00%, 7/1/2024 | 75,000 | 75,395 |
Series 2018A, Rev., 5.00%, 7/1/2024 | 20,000 | 20,218 |
State of New Mexico, Capital Projects GO, 5.00%, 3/1/2025 | 55,000 | 56,338 |
University of New Mexico (The), Subordinate Lien System Series 2014C, Rev., 5.00%, 6/1/2024 | 25,000 | 25,217 |
Total New Mexico | 865,671 | |
New York — 17.5% | ||
Bay Shore Union Free School District Series 2013, GO, 5.00%, 1/15/2024 | 40,000 | 40,053 |
Canton Central School District GO, BAN, 4.50%, 7/5/2024 | 14,850,000 | 14,912,683 |
Chenango Forks Central School District GO, BAN, 4.50%, 6/28/2024 | 14,065,000 | 14,111,687 |
City of New York | ||
Series 2004A-6, GO, 5.00%, 8/1/2024 | 50,000 | 50,151 |
Series G, GO, 5.00%, 8/1/2024 | 35,000 | 35,105 |
Series 2014 I-1, GO, 5.00%, 3/1/2025 | 45,000 | 45,215 |
Series 2014J, GO, 5.00%, 8/1/2025 | 60,000 | 60,812 |
Series 2014I-1, GO, 5.00%, 3/1/2026 | 50,000 | 50,175 |
Series G, GO, 5.00%, 8/1/2026 | 225,000 | 225,510 |
City of New York, Fiscal Year 2014 Series 2014I-1, GO, 5.00%, 3/1/2024 | 75,000 | 75,339 |
City of New York, Fiscal Year 2015 Series 2015A, GO, 5.00%, 8/1/2026 | 30,000 | 30,297 |
City of New York, Fiscal Year 2016 Series E, GO, 5.00%, 8/1/2024 | 90,000 | 91,139 |
City of New York, Fiscal Year 2017 Series C, GO, 5.00%, 8/1/2025 | 40,000 | 41,346 |
City of New York, Fiscal Year 2018 Series 2018F-1, GO, 4.00%, 4/1/2025 | 30,000 | 30,404 |
City of New York, Tax-Exempt Series 2015C, GO, 5.00%, 8/1/2025 | 30,000 | 30,710 |
City of Rochester Series 2023I, GO, BAN, 4.50%, 2/28/2024 | 30,350,000 | 30,428,285 |
City of Troy GO, BAN, 4.50%, 7/26/2024 | 5,971,812 | 5,994,350 |
Clarence Central School District GO, BAN, 4.50%, 6/20/2024 | 14,200,000 | 14,259,394 |
County of Livingston, Public Improvement GO, 4.00%, 2/1/2024 | 35,000 | 35,046 |
County of Nassau, General Improvement Series 2016A, GO, 5.00%, 1/1/2025 | 50,000 | 51,059 |
County of Oneida GO, BAN, 5.00%, 3/1/2024 | 500,000 | 502,064 |
County of Washington Series 2023, GO, BAN, 4.50%, 3/22/2024 | 2,496,000 | 2,500,375 |
Deposit Central School District GO, BAN, 4.75%, 6/28/2024 | 2,497,050 | 2,507,715 |
East Islip Union Free School District GO, BAN, 4.50%, 6/26/2024 | 21,379,277 | 21,471,447 |
Erie County Industrial Development Agency (The), City School District of the City of Buffalo Project Series 2013A, Rev., 5.00%, 2/22/2024 | 270,000 | 270,995 |
Erie County Industrial Development Agency (The), School District Buffalo Project Series 2015A, Rev., 5.00%, 5/1/2024 | 30,000 | 30,227 |
Evans-Brant Central School District GO, BAN, 4.50%, 6/20/2024 | 23,608,239 | 23,697,820 |
Fonda-Fultonville Central School District GO, BAN, 4.50%, 7/12/2024 | 3,750,000 | 3,767,544 |
Frewsburg Central School District GO, BAN, 4.50%, 7/9/2024 | 3,545,000 | 3,557,282 |
Greenwich Central School District GO, BAN, 4.50%, 6/25/2024 | 2,000,000 | 2,006,554 |
Guilderland Central School District GO, BAN, 4.50%, 7/26/2024 | 14,683,569 | 14,752,339 |
Hempstead Union Free School District GO, RAN, 5.00%, 6/28/2024 | 10,400,000 | 10,475,719 |
Hudson Yards Infrastructure Corp., Second Indenture Series 2017A, Rev., 5.00%, 2/15/2025 | 20,000 | 20,504 |
Iroquois Central School District GO, 5.00%, 6/15/2025 | 25,000 | 25,647 |
Lafayette Central School District | ||
GO, RAN, 5.00%, 6/14/2024 | 2,330,000 | 2,343,310 |
GO, BAN, 4.50%, 6/28/2024 | 4,375,000 | 4,388,098 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
New York — continued | ||
Lakeland Central School District GO, BAN, 4.50%, 8/16/2024 | 3,416,000 | 3,433,047 |
Le Roy Central School District GO, BAN, 4.75%, 6/28/2024 | 6,290,000 | 6,322,865 |
Letchworth Central School District of Gainesville GO, BAN, 4.75%, 6/21/2024 | 8,820,000 | 8,863,951 |
Long Island Power Authority, Electric System | ||
Series 2020B, Rev., 0.85%, 9/1/2025 (c) | 125,000 | 118,654 |
Rev., 1.00%, 9/1/2025 | 315,000 | 297,365 |
Lyncourt Union Free School District GO, BAN, 4.50%, 6/27/2024 | 2,825,000 | 2,833,903 |
Malone Central School District GO, BAN, 4.50%, 6/27/2024 | 10,335,250 | 10,368,356 |
Massena Central School District GO, BAN, 4.50%, 6/28/2024 | 14,070,000 | 14,128,043 |
Metropolitan Transportation Authority | ||
Series 2005D-2, Rev., VRDO, LOC : Bank of Montreal, 2.15%, 12/1/2023 (c) | 15,950,000 | 15,950,000 |
Series 2016D, Rev., 4.00%, 11/15/2024 | 125,000 | 125,742 |
Series 2014C, Rev., 5.00%, 11/15/2024 | 160,000 | 162,429 |
Series 2014D-1, Rev., 5.00%, 11/15/2024 (b) | 30,000 | 30,535 |
Series 2016B, Rev., 5.00%, 11/15/2024 | 100,000 | 101,518 |
Series 2017B, Rev., 5.00%, 11/15/2024 | 275,000 | 279,165 |
Series D-1, Rev., 5.00%, 11/15/2024 | 30,000 | 30,455 |
Series A-1, Rev., 5.00%, 11/15/2025 | 20,000 | 20,334 |
Metropolitan Transportation Authority, Dedicated Tax Fund Series 2013B-1, Rev., 5.00%, 11/15/2024 | 175,000 | 175,101 |
Monroe County Industrial Development Corp., Rochester Schools Modernization Project Series 2015, Rev., 5.00%, 5/1/2024 | 50,000 | 50,378 |
Monroe County Industrial Development Corp., The Rochester General Hospital Project Series 2013B, Rev., 4.00%, 12/1/2023 | 500,000 | 500,000 |
Mount Vernon City School District Series 2018, GO, 5.00%, 12/1/2023 | 45,000 | 45,000 |
New York City Health and Hospitals Corp., Health System Series 2008C, Rev., VRDO, LOC : TD Bank NA, 3.01%, 12/13/2023 (c) | 25,000,000 | 25,000,000 |
New York City Industrial Development Agency, Queens Baseball Stadium Project Series 2021A, Rev., AGM, 5.00%, 1/1/2028 | 1,250,000 | 1,332,669 |
New York City Municipal Water Finance Authority, Second General Resolution, Fiscal year 2023 Series 2023, Subseries B-1, Rev., VRDO, LIQ : Mizuho Bank Ltd., 2.10%, 12/1/2023 (c) | 20,000,000 | 20,000,000 |
New York City Municipal Water Finance Authority, Water and Sewer System, Second General Resolution, Fiscal year 2021 Series 2021, Subseries EE2, Rev., VRDO, LIQ : State Street Bank & Trust, 1.90%, 12/1/2023 (c) | 25,000,000 | 25,000,000 |
New York City Transitional Finance Authority Future Tax Secured Series B-1, Rev., 5.00%, 8/1/2024 | 25,000 | 25,302 |
New York City Transitional Finance Authority Future Tax Secured, Fiscal Year 2014 Series 2014 C, Rev., 5.00%, 11/1/2025 | 45,000 | 45,326 |
New York City Transitional Finance Authority, Future Tax Secured Series 2014D-1, Rev., 5.00%, 2/1/2026 | 170,000 | 170,407 |
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2014 | ||
Series 2014B-1, Rev., 5.00%, 11/1/2024 | 25,000 | 25,193 |
Series 2014B-1, Rev., 5.00%, 11/1/2026 | 60,000 | 60,383 |
Series 2014C, Rev., 5.00%, 11/1/2026 | 20,000 | 20,128 |
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2017 Series 2017F-1, Rev., 5.00%, 5/1/2024 | 120,000 | 120,888 |
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2018 | ||
Series 2018B-1, Rev., 5.00%, 8/1/2024 (b) | 30,000 | 30,358 |
Series 2018B-1, Rev., 5.00%, 8/1/2024 | 10,000 | 10,121 |
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2021 | ||
Series 2021C, Subseries C-1, Rev., 5.00%, 5/1/2024 | 25,000 | 25,185 |
Series 2021-1, Rev., 5.00%, 11/1/2025 | 40,000 | 41,557 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
New York — continued | ||
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2022 Series 2022B,Subseries B-1, Rev., 5.00%, 8/1/2024 | 530,000 | 536,395 |
New York City Transitional Finance Authority, Future Tax Secured, Tax-Exempt, Fiscal Year 2016 Series 2016, Subseries E-1, Rev., 5.00%, 2/1/2025 | 125,000 | 127,765 |
New York City Water and Sewer System, Second General Resolution, Fiscal Year 2019 Series 2019DD-2, Rev., 5.00%, 12/15/2023 | 55,000 | 55,028 |
New York State Dormitory Authority Series F, Rev., 5.00%, 10/1/2024 | 25,000 | 25,381 |
New York State Dormitory Authority, Hospitals Center, Langone Hospitals Obligated Group Series 2016A, Rev., 5.00%, 7/1/2024 | 40,000 | 40,345 |
New York State Dormitory Authority, Icahn School of Medicine at Mount Sinai Series 2015A, Rev., 5.00%, 7/1/2025 | 240,000 | 245,031 |
New York State Dormitory Authority, Northwell Health Obligated Group Series 2019B2, Rev., 5.00%, 5/1/2024 (c) | 240,000 | 240,249 |
New York State Dormitory Authority, Personal Income Tax Series 2019A, Rev., 5.00%, 3/15/2024 (b) | 45,000 | 45,242 |
New York State Dormitory Authority, Pratt institute Series 2015A, Rev., 5.00%, 7/1/2024 (b) | 175,000 | 176,669 |
New York State Dormitory Authority, Sales Tax Series 2017 A, Rev., 5.00%, 3/15/2024 (b) | 165,000 | 165,840 |
New York State Dormitory Authority, School Districts Financing Program | ||
Series 2017G, Rev., 5.00%, 10/1/2024 | 65,000 | 65,942 |
Series 2018A, Rev., 5.00%, 10/1/2024 | 50,000 | 50,725 |
Series C, Rev., 5.00%, 10/1/2024 | 15,000 | 15,019 |
Series H, Rev., 5.00%, 10/1/2025 | 10,000 | 10,014 |
New York State Dormitory Authority, State Peronal Income Tax | ||
Series 2014E, Rev., 5.00%, 2/15/2024 (b) | 100,000 | 100,375 |
Series 2017 A, Rev., 5.00%, 2/15/2024 (b) | 125,000 | 125,469 |
Series 2014C, Rev., 5.00%, 3/15/2024 (b) | 40,000 | 40,215 |
Series SER 1, Rev., 5.00%, 3/15/2024 (b) | 55,000 | 55,296 |
New York State Dormitory Authority, State Personal Income Tax Series 2015B, Rev., 5.00%, 2/15/2024 (b) | 20,000 | 20,075 |
New York State Dormitory Authority, State Personal Income Tax, General Purpose | ||
Series 2014A, Rev., 4.00%, 2/15/2024 (b) | 35,000 | 35,063 |
Series 2014A, Rev., 5.00%, 2/15/2024 (b) | 195,000 | 195,673 |
Series 2019D, Rev., 5.00%, 2/15/2024 | 40,000 | 40,146 |
New York State Dormitory Authority, State Sales Tax | ||
Series 2016A, Rev., 5.00%, 3/15/2024 (b) | 50,000 | 50,255 |
Series 2015A, Rev., 5.00%, 3/15/2025 (b) | 25,000 | 25,633 |
New York State Environmental Facilities Corp., State Revolving Funds, Master Financing Program Series 2012E, Rev., 5.00%, 5/15/2024 | 15,000 | 15,022 |
New York State Housing Finance Agency, Historic Front Street Series 2003A, Rev., VRDO, LOC : Landesbank Hessen-Thuringen, 3.02%, 12/13/2023 (c) | 22,000,000 | 22,000,000 |
New York State Thruway Authority | ||
Series J, Rev., 5.00%, 1/1/2024 | 175,000 | 175,233 |
Series K, Rev., 5.00%, 1/1/2024 | 50,000 | 50,066 |
Series L, Rev., 5.00%, 1/1/2024 | 85,000 | 85,113 |
Series J, Rev., 5.00%, 1/1/2026 | 885,000 | 885,920 |
Series K, Rev., 5.00%, 1/1/2028 | 35,000 | 35,676 |
New York State Urban Development Corp. Series 2013C, Rev., 5.00%, 12/26/2023 | 210,000 | 210,250 |
New York State Urban Development Corp. Personal Income Tax Series 2014A, Rev., 5.00%, 3/15/2024 (b) | 75,000 | 75,414 |
New York State Urban Development Corp., Personal Income Tax Series 2016A, Rev., 5.00%, 3/15/2025 (b) | 30,000 | 30,794 |
New York State Urban Development Corp., State Personal Income Tax, General Purpose Series 2014A, Rev., 5.00%, 3/15/2024 (b) | 50,000 | 50,260 |
New York Transportation Development Corp., Terminal 4 John F. Kennedy International Airport Project, Tax-Exempt Series 2020C, Rev., 5.00%, 12/1/2023 | 340,000 | 340,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
New York — continued | ||
Onondaga Central School District GO, BAN, 4.50%, 6/28/2024 | 11,160,000 | 11,190,018 |
Onondaga County Industrial Development Agency, Series 2022, Rev., VRDO, 4.00%, 12/1/2023 (c) | 1,415,000 | 1,415,000 |
Oriskany Central School District GO, BAN, 4.50%, 7/5/2024 | 4,870,000 | 4,885,061 |
Otego-Unadilla Central School District, New York General Obligation Anticipation GO, BAN, 4.50%, 7/18/2024 | 7,500,000 | 7,528,118 |
Owego Apalachin Central School District GO, BAN, 4.50%, 7/5/2024 | 5,765,000 | 5,789,755 |
Port Authority of New York & New Jersey Series 179, Rev., 5.00%, 12/14/2023 | 325,000 | 325,152 |
Port Authority of New York and New Jersey, Consolidated | ||
Series 179, Rev., 5.00%, 12/14/2023 | 175,000 | 175,082 |
Series 189, Rev., 5.00%, 5/1/2025 | 45,000 | 46,186 |
Series 175, Rev., 5.00%, 12/1/2025 | 100,000 | 100,143 |
Series 175, Rev., 4.00%, 12/1/2026 | 105,000 | 105,093 |
Sales Tax Asset Receivable Corp., Fiscal Year 2015 Series 2015A, Rev., 5.00%, 10/15/2024 (b) | 45,000 | 45,745 |
Saranac Lake Central School District GO, BAN, 4.50%, 6/21/2024 | 2,855,000 | 2,864,135 |
Schenectady City School District GO, BAN, 4.50%, 7/19/2024 | 11,220,000 | 11,275,032 |
Shenendehowa Central School District GO, BAN, 4.50%, 6/28/2024 | 10,100,000 | 10,141,083 |
Spencer Van Etten Central School GO, BAN, 4.50%, 6/28/2024 | 8,752,842 | 8,778,900 |
Three Village Central School District Brookhaven & Smithtown GO, 5.00%, 5/15/2025 | 30,000 | 30,802 |
Town of Brookhaven Series 2016, GO, 4.00%, 3/15/2028 | 60,000 | 60,225 |
Town of Lancaster GO, BAN, 4.50%, 7/19/2024 | 6,469,500 | 6,495,120 |
Town of Monroe GO, BAN, 4.50%, 8/2/2024 | 2,700,000 | 2,718,584 |
Town of Orchard Park GO, BAN, 4.50%, 8/16/2024 | 3,658,000 | 3,679,341 |
Town of Oyster Bay Series 2023, GO, 5.00%, 3/8/2024 | 20,000 | 20,078 |
Town of Riverhead GO, BAN, 4.50%, 8/15/2024 | 2,850,000 | 2,864,949 |
Town of Stillwater Series 2023, GO, BAN, 4.50%, 5/31/2024 | 2,940,000 | 2,954,531 |
Town of Wawarsing GO, BAN, 4.50%, 7/25/2024 | 4,200,000 | 4,214,946 |
Triborough Bridge & Tunnel Authority | ||
Series 2022A, Rev., BAN, 5.00%, 8/15/2024 | 55,000 | 55,673 |
Series 2022B, Rev., BAN, 5.00%, 12/16/2024 | 90,000 | 91,663 |
Tully Central School District GO, BAN, 4.50%, 6/27/2024 | 1,519,528 | 1,525,154 |
Utility Debt Securitization Authority | ||
Series 2016A, Rev., 5.00%, 12/15/2023 | 785,000 | 785,405 |
Series 2017, Rev., 5.00%, 12/15/2023 | 75,000 | 75,039 |
Utility Debt Securitization Authority, Restructuring Bond Series 2016 B, Rev., 5.00%, 12/15/2023 | 50,000 | 50,026 |
Village of Lancaster Series 2023, GO, BAN, 4.50%, 5/24/2024 | 1,400,000 | 1,405,858 |
Village of Port Chester, Improvement Public Series 2023, GO, 5.00%, 12/15/2023 | 65,000 | 65,038 |
Village of Skaneateles GO, BAN, 5.00%, 6/14/2024 | 1,550,000 | 1,558,854 |
Warwick Valley Central School District GO, BAN, 4.75%, 6/28/2024 | 5,017,154 | 5,044,816 |
Wayne Central School District GO, BAN, 4.50%, 7/26/2024 | 2,900,000 | 2,909,243 |
Westchester County Local Development Corp., Purchase Senior Learning Community, Inc. Project Series 2021D, Rev., 2.88%, 7/1/2026 (e) | 1,885,000 | 1,801,122 |
Westfield Central School District GO, BAN, 5.00%, 6/13/2024 | 2,245,000 | 2,257,761 |
Windsor Central School District GO, BAN, 4.50%, 7/26/2024 | 6,464,000 | 6,487,137 |
Yorktown Central School District Series 2019, GO, 5.00%, 3/1/2024 | 120,000 | 120,508 |
Total New York | 447,038,727 | |
North Carolina — 0.4% | ||
Charlotte-Mecklenburg Hospital Authority (The) Series 2016A, Rev., 5.00%, 1/15/2024 | 250,000 | 250,429 |
Charlotte-Mecklenburg Hospital Authority (The), Atrium Health Variable Rate, Health Care Series 2021B, Rev., 5.00%, 12/2/2024 (c) | 1,430,000 | 1,450,611 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
North Carolina — continued | ||
City of Charlotte, Airport Special Facilities Series A, Rev., 5.00%, 7/1/2024 | 35,000 | 35,382 |
City of Charlotte, Convention Facility Project Series 2019A, COP, 5.00%, 6/1/2024 | 60,000 | 60,537 |
City of Charlotte, Equipment Acquisition and Public Facilities Series 2016A, COP, 5.00%, 12/1/2023 | 30,000 | 30,000 |
City of Durham Series 2018, Rev., 5.00%, 4/1/2024 | 45,000 | 45,286 |
City of Fayetteville Public Works Commission Series 2016, Rev., 5.00%, 3/1/2024 | 60,000 | 60,255 |
City of High Point Series 2016, GO, 5.00%, 3/1/2024 | 50,000 | 50,218 |
City of Raleigh, Limited Obligation Rev., 5.00%, 2/1/2024 | 190,000 | 190,537 |
City of Sanford Utility Systems Series 2019, Rev., 5.00%, 6/1/2024 | 70,000 | 70,585 |
County of Catawba Series 2018, Rev., 5.00%, 12/1/2023 | 70,000 | 70,000 |
County of Forsyth GO, 5.00%, 12/1/2023 | 50,000 | 50,000 |
County of Iredell Series 2021, GO, 5.00%, 12/1/2023 | 100,000 | 100,000 |
County of Lee Series 2017, GO, 5.00%, 4/1/2024 | 35,000 | 35,215 |
County of Mecklenburg Series 2011-C, GO, 5.25%, 12/1/2023 | 210,000 | 210,000 |
County of New Hanover Series 2017, Rev., 5.00%, 10/1/2025 (b) | 25,000 | 25,795 |
County of Onslow Series 2013, GO, 5.00%, 12/1/2023 | 30,000 | 30,000 |
County of Wake Series 2016 A, Rev., 5.00%, 12/1/2024 | 20,000 | 20,379 |
County of Wake, Hospital System Rev., NATL - RE, 5.13%, 10/1/2026 (b) | 75,000 | 77,164 |
County of Wake, Public Improvement Series 2019 A, GO, 5.00%, 3/1/2024 | 50,000 | 50,225 |
Mecklenburg County Public Facilities Corp. Series 2017, Rev., 5.00%, 2/1/2024 | 60,000 | 60,175 |
North Carolina Capital Facilities Finance Agency, Duke University Project Series 2015B, Rev., 5.00%, 10/1/2025 (b) | 20,000 | 20,733 |
North Carolina Housing Finance Agency, Homeownership Series 44, Rev., 1.50%, 7/1/2024 | 230,000 | 225,156 |
North Carolina Medical Care Commission Series 2019A, Rev., 5.00%, 12/1/2023 | 500,000 | 500,000 |
North Carolina Medical Care Commission, Caromont Health Series 2021B, Rev., 5.00%, 2/1/2026 (c) | 325,000 | 335,875 |
North Carolina Medical Care Commission, Novant Health Series 2013A, Rev., 5.00%, 11/1/2024 | 160,000 | 160,197 |
North Carolina Medical Care Commission, Wake Forest Baptist Obligated Group Series 2012B, Rev., 5.00%, 12/1/2023 | 240,000 | 240,000 |
North Carolina Municipal Power Agency No. 1 | ||
Series A, Rev., 5.00%, 1/1/2026 | 20,000 | 20,712 |
Series 2016 A, Rev., 5.00%, 1/1/2028 | 110,000 | 114,901 |
North Carolina Municipal Power Agency No. 1, Catawba Electric Series A, Rev., 5.00%, 1/1/2024 | 155,000 | 155,183 |
North Carolina Turnpike Authority, Triangle Expressway System, Senior Lien | ||
Rev., AGM, 5.00%, 1/1/2024 | 1,150,000 | 1,151,134 |
Series NTS2020, Rev., BAN, 5.00%, 2/1/2024 (b) | 1,310,000 | 1,313,305 |
Raleigh Durham Airport Authority | ||
Series 2020A, Rev., AMT, 5.00%, 5/1/2025 | 940,000 | 956,567 |
Series 2020B, Rev., 5.00%, 5/1/2025 | 20,000 | 20,558 |
State of North Carolina | ||
Rev., 5.00%, 3/1/2024 | 65,000 | 65,283 |
Series 2022A, Rev., 5.00%, 5/1/2025 | 435,000 | 447,131 |
State of North Carolina, Limited Obligation Series 2013A, Rev., 2.25%, 5/1/2026 | 10,000 | 9,693 |
Town of Cary Series 2014, GO, 5.00%, 3/1/2024 | 75,000 | 75,332 |
Town of Chapel Hill Series 2021 A, Rev., 5.00%, 12/1/2023 | 40,000 | 40,000 |
University of North Carolina at Greensboro Series 2014, Rev., 4.00%, 4/1/2039 | 200,000 | 200,256 |
Total North Carolina | 9,024,809 | |
North Dakota — 0.0% ^ | ||
City of Grand Forks, Altru Health System Rev., 5.00%, 12/1/2024 | 120,000 | 120,549 |
Minot Public School District No. 1 GO, 4.00%, 8/1/2025 | 25,000 | 25,411 |
North Dakota Housing Finance Agency, Home Mortgage Finance Program Series 2020B, Rev., 1.05%, 7/1/2026 | 125,000 | 113,287 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
North Dakota — continued | ||
University of North Dakota COP, AGM, 5.00%, 6/1/2024 | 580,000 | 584,704 |
West Fargo Public School District No. 6, School Building GO, 4.00%, 8/1/2024 | 40,000 | 40,204 |
Total North Dakota | 884,155 | |
Ohio — 6.2% | ||
Akron Bath Copley Joint Township Hospital District Series 2022A, Rev., 5.00%, 11/15/2024 | 75,000 | 76,102 |
Akron Bath Copley Joint Township Hospital District, Children's Hospital Medical Center of Akron | ||
Series 2022A, Rev., 5.00%, 11/15/2026 | 355,000 | 373,208 |
Series 2022A, Rev., 5.00%, 11/15/2027 | 470,000 | 503,159 |
American Municipal Power, Inc. | ||
Series 2017A, Rev., 5.00%, 2/15/2024 | 1,120,000 | 1,124,074 |
Series 2020A, Rev., 5.00%, 2/15/2024 | 945,000 | 948,437 |
Series 2017A, Rev., 5.00%, 2/15/2028 | 20,000 | 21,499 |
American Municipal Power, Inc., Electric System Improvement, City of Wapakoneta Project Rev., BAN, 4.50%, 6/21/2024 | 1,970,000 | 1,976,852 |
American Municipal Power, Inc., Prairie State Energy Campus Project | ||
Series 2019B, Rev., 5.00%, 2/15/2024 | 1,675,000 | 1,681,092 |
Series 2015A, Rev., 5.00%, 2/15/2026 | 5,325,000 | 5,338,949 |
Series 2015A, Rev., 5.00%, 2/15/2027 | 2,900,000 | 2,907,597 |
Big Walnut Local School District, Unlimited Tax Series 2015, GO, 5.00%, 6/1/2025 (b) | 670,000 | 688,521 |
Central Ohio Solid Waste Authority Series 2016, GO, 5.00%, 12/1/2024 | 1,000,000 | 1,017,498 |
Central Ohio Solid Waste Authority, Solid Waste Facilities, Limited Tax GO, 5.00%, 12/1/2023 | 45,000 | 45,000 |
Cincinnati City School District Series 2014, COP, 5.00%, 12/15/2024 (b) | 3,260,000 | 3,318,554 |
City of Akron Income Tax, Various Purpose Series 2014, Rev., 5.00%, 12/1/2023 | 1,155,000 | 1,155,000 |
City of Akron, Income Tax Rev., 5.00%, 12/1/2023 | 20,000 | 20,000 |
City of Akron, Various Purpose GO, 4.00%, 12/1/2023 | 200,000 | 200,000 |
City of Athens, Swimming Pool Facilities GO, 3.00%, 12/1/2023 | 25,000 | 25,000 |
City of Blue Ash GO, BAN, 4.25%, 3/28/2024 | 5,400,000 | 5,404,549 |
City of Cincinnati Series 2019, GO, 5.00%, 12/1/2023 | 30,000 | 30,000 |
City of Cincinnati, Unlimited Tax | ||
Series 2015A, GO, 5.00%, 12/1/2023 (b) | 15,000 | 15,000 |
Series 2015A, GO, 5.00%, 12/1/2023 | 20,000 | 20,000 |
City of Columbus, Unlimited Tax General Obligation Series 2021 A, GO, 5.00%, 4/1/2024 | 30,000 | 30,185 |
City of Columbus,Variour Purpose Unlimited Tax Series 2014A, GO, 4.00%, 2/15/2028 | 145,000 | 145,164 |
City of Delaware GO, BAN, 4.38%, 1/18/2024 | 2,675,000 | 2,676,487 |
City of Dublin Series 2018 B, GO, 5.00%, 12/1/2024 | 75,000 | 75,105 |
City of Gahanna, Ohio Capital Facilities GO, BAN, 5.13%, 10/24/2024 | 3,750,000 | 3,771,721 |
City of Sandusky, Various Purpose Limited Tax GO, BAN, 4.50%, 9/6/2024 | 12,270,000 | 12,328,302 |
City of Springfield GO, BAN, 4.25%, 4/3/2024 | 4,480,000 | 4,483,598 |
City of Strongsville Series 2023, GO, BAN, 4.50%, 6/7/2024 | 2,740,000 | 2,753,941 |
City of Westerville, Special Obligation Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
Columbus Metropolitan Library, Ohio Library Facilities, Special Obligation Series 2020, Rev., 4.00%, 12/1/2024 | 20,000 | 20,154 |
County of Allen | ||
Series 2020A, Rev., 5.00%, 12/1/2023 | 1,295,000 | 1,295,000 |
Series 2017A, Rev., 5.00%, 8/1/2025 | 115,000 | 118,078 |
Series 2017 A, Rev., 5.00%, 8/1/2027 | 25,000 | 26,596 |
County of Allen, Hospital Facilities, Mercy Health Series 2017A, Rev., 5.00%, 8/1/2024 | 765,000 | 772,580 |
County of Cuyahoga Series 2020D, Rev., 4.00%, 12/1/2023 | 800,000 | 800,000 |
County of Cuyahoga, Ohio Economic Development Series 2020D, Rev., 4.00%, 12/1/2024 | 1,850,000 | 1,864,816 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Ohio — continued | ||
County of Franklin Series 2016C, Rev., 5.00%, 11/1/2024 | 45,000 | 45,684 |
County of Greene, Sewer System Series 2007A, Rev., AMBAC, 5.00%, 12/1/2023 | 50,000 | 50,000 |
County of Hamilton | ||
Series 2013A, Rev., 5.00%, 12/1/2023 (b) | 325,000 | 325,000 |
Series 2014A, Rev., 5.00%, 12/1/2023 | 250,000 | 250,000 |
Series 2014S, Rev., 5.00%, 5/15/2025 | 20,000 | 20,135 |
Series 2014S, Rev., 5.00%, 5/15/2026 | 1,040,000 | 1,046,698 |
Series 2016A, Rev., 5.00%, 12/1/2026 | 620,000 | 657,856 |
Series 2014A, Rev., 5.00%, 12/1/2027 | 370,000 | 376,075 |
Series 2014A, Rev., 5.00%, 12/1/2028 | 2,420,000 | 2,456,891 |
County of Hamilton, Hospital Facility Cincinnati Children Hospital Series 2014S, Rev., 5.00%, 5/15/2027 | 2,000,000 | 2,013,367 |
County of Hamilton, Parking Facilities, Limited Tax Series 2021A, GO, 5.00%, 12/1/2023 | 25,000 | 25,000 |
County of Hamilton, Sales Tax | ||
Series 2016A, Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
Series 2016A, Rev., 5.00%, 12/1/2024 | 35,000 | 35,602 |
County of Montgomery, Dayton Children's Hospital Series 2021, Rev., 5.00%, 8/1/2026 | 170,000 | 177,324 |
Cuyahoga Community College District, Facilities Construction Improvement, Unlimited Tax GO, 3.00%, 12/1/2023 | 20,000 | 20,000 |
Cuyahoga Metropolitan Housing Authority Rev., FHA, 4.75%, 12/1/2025 (c) | 4,590,000 | 4,653,021 |
Cuyahoga Metropolitan Housing Authority, Carver Park Phase III Project Rev., FHA, 4.00%, 6/1/2025 (c) | 7,200,000 | 7,205,216 |
Dayton Metro Library, Unlimited Tax GO, 4.00%, 12/1/2024 | 40,000 | 40,281 |
Dublin City School District, School Facilities Construction and Improvement Series 2019C, GO, 4.00%, 12/1/2024 | 20,000 | 20,180 |
Franklin County Convention Facilities Authority, Tax Lease | ||
Rev., 5.00%, 12/1/2023 (b) | 50,000 | 50,000 |
Rev., 5.00%, 12/1/2024 (b) | 75,000 | 76,224 |
Lakewood City School District Series 2017, GO, 5.00%, 12/1/2023 | 100,000 | 100,000 |
Licking County Career and Technology Education Centers GO, 3.13%, 12/1/2023 | 50,000 | 50,000 |
Lucas-Plaza Housing Development Corp. Series B, Rev., FHA, Zero Coupon, 6/1/2024 (b) | 970,000 | 953,443 |
Miami Valley Career Technology Center Series 2018, GO, 4.00%, 12/1/2023 | 200,000 | 200,000 |
Miamisburg City School District Series 2016, GO, 5.00%, 12/1/2025 (b) | 390,000 | 405,235 |
Northwest Local School District, School Improvement, Unlimited Tax GO, 5.00%, 12/1/2023 (b) | 45,000 | 45,000 |
Oak Hills Local School District, School Improvement GO, 5.00%, 12/1/2023 | 20,000 | 20,000 |
Ohio Higher Educational Facility Commission, Case Western University Project | ||
Rev., 5.00%, 12/1/2023 (b) | 45,000 | 45,000 |
Rev., 5.00%, 12/1/2023 | 100,000 | 100,000 |
Series 2021B, Rev., (SIFMA Municipal Swap Index Yield + 0.23%), 3.21%, 12/14/2023 (d) | 5,500,000 | 5,384,348 |
Ohio Housing Finance Agency, Marianna Terrace Apartments Series 2022A, Rev., 1.30%, 3/1/2024 (c) | 1,000,000 | 992,922 |
Ohio Housing Finance Agency, RAD Post Oak LLC Series 2022, Rev., 3.35%, 7/1/2024 (c) | 4,740,000 | 4,707,752 |
Ohio Housing Finance Agency, Riverview San Macro LLC Series 2023, Rev., 5.00%, 8/1/2025 (c) | 3,916,000 | 3,982,766 |
Ohio State University (The), General Receipts | ||
Series 2010D, Rev., 5.00%, 12/1/2023 | 40,000 | 40,000 |
Series 2020A, Rev., 5.00%, 12/1/2023 | 30,000 | 30,000 |
Ohio Water Development Authority Series 2016B, Rev., 5.00%, 6/1/2024 | 35,000 | 35,318 |
Ohio Water Development Authority Drinking Water Assistance Fund Series 2016, Rev., 5.00%, 12/1/2023 | 125,000 | 125,000 |
Orange City School District, Unlimited Tax GO, 5.00%, 12/1/2023 | 40,000 | 40,000 |
Perrysburg Exempted Village School District, Unlimited Tax GO, 5.00%, 12/1/2023 | 30,000 | 30,000 |
Rocky River City School District Series 2014, GO, 4.00%, 12/1/2023 (b) | 140,000 | 140,000 |
State of Ohio | ||
Series 2016A, GO, 5.00%, 12/15/2023 | 35,000 | 35,020 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Ohio — continued | ||
Series 2015A, Rev., 5.00%, 2/1/2024 | 50,000 | 50,144 |
Series 2019A, Rev., 5.00%, 4/1/2024 | 20,000 | 20,120 |
Series 2018A, Rev., 5.00%, 6/1/2024 | 25,000 | 25,231 |
Series A, Rev., 5.00%, 6/1/2024 | 25,000 | 25,231 |
Series 1A, Rev., 5.00%, 12/15/2024 | 75,000 | 76,482 |
Series 2016A, Rev., 5.00%, 2/1/2025 | 50,000 | 51,118 |
Series 2021A, Rev., 5.00%, 2/1/2025 | 25,000 | 25,559 |
Series 2017B, GO, 5.00%, 9/15/2025 | 450,000 | 466,453 |
Series 2017 A, GO, 5.00%, 3/15/2028 | 25,000 | 25,118 |
State of Ohio, Adult Correctional Building Fund Projects Series 2013A, Rev., 5.00%, 10/1/2024 | 35,000 | 35,548 |
State of Ohio, Capital Facilities Lease Appropriation | ||
Series 2017A, Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
Series 2017A, Rev., 5.00%, 12/1/2024 | 55,000 | 56,043 |
State of Ohio, Capital Facilities Lease Appropriation Mental Health Facilities Improvement Fund Projects Series 2015A, Rev., 5.00%, 2/1/2024 | 55,000 | 55,158 |
State of Ohio, Cleveland Clinic Health System | ||
Series 2019F, Rev., VRDO, LIQ : U.S. Bank NA, 1.95%, 12/1/2023 (c) | 10,000,000 | 10,000,000 |
Series 2019D-2, Rev., VRDO, 2.95%, 12/13/2023 (c) | 20,890,000 | 20,890,000 |
State of Ohio, Higher Education Series 2014A, GO, 4.00%, 5/1/2024 | 80,000 | 80,303 |
State of Ohio, Infrastructure Improvement Series 2017B, GO, 5.00%, 9/1/2025 | 30,000 | 31,070 |
State of Ohio, Major New Infrastructure Project | ||
Series 2016-1, Rev., 5.00%, 12/15/2023 | 25,000 | 25,014 |
Series 2018-1, Rev., 5.00%, 12/15/2023 | 200,000 | 200,110 |
Series 2019-1, Rev., 5.00%, 12/15/2023 | 25,000 | 25,014 |
Series 2018-1, Rev., 5.00%, 12/15/2024 | 65,000 | 66,284 |
State of Ohio, University Hospitals Health System, Inc. | ||
Series 2021B, Rev., VRDO, 3.75%, 12/1/2023 (c) | 15,500,000 | 15,500,000 |
Series 2014B, Rev., VRDO, 3.80%, 12/13/2023 (c) | 14,000,000 | 14,000,000 |
Series 2020B, Rev., 5.00%, 1/15/2025 (c) | 295,000 | 299,475 |
Series 2016A, Rev., 5.00%, 1/15/2027 | 40,000 | 41,242 |
Toledo City School District, School Facilities Improvement GO, 5.00%, 12/1/2023 (b) | 20,000 | 20,000 |
University of Akron (The) Series 2015A, Rev., 5.00%, 1/1/2024 (b) | 90,000 | 90,110 |
University of Cincinnati Series D, Rev., 5.00%, 6/1/2024 | 40,000 | 40,324 |
Westerville City School District, School Facilities Project COP, 5.00%, 12/1/2023 | 30,000 | 30,000 |
Wright State University Series 2021A, Rev., 4.00%, 5/1/2024 | 625,000 | 625,391 |
Total Ohio | 158,009,718 | |
Oklahoma — 0.8% | ||
Canadian County Educational Facilities Authority, Mustang Public Schools Project Series 2017, Rev., 4.00%, 9/1/2025 | 105,000 | 105,977 |
Canadian County Independent School District No. 69 Mustang Series 2023, GO, 4.00%, 6/1/2027 | 3,530,000 | 3,635,533 |
Grand River Dam Authority | ||
Series 2016A, Rev., 4.00%, 6/1/2024 | 50,000 | 50,181 |
Series 2014A, Rev., 5.00%, 6/1/2025 | 100,000 | 100,783 |
Series 2014A, Rev., 5.00%, 6/1/2026 | 310,000 | 312,257 |
Series 2014A, Rev., 5.00%, 6/1/2028 | 115,000 | 115,726 |
Oklahoma County Finance Authority, Educational Facilities, Lease Midwest City-Del City Public Schools Project | ||
Rev., 5.00%, 10/1/2024 | 780,000 | 789,840 |
Rev., 5.00%, 10/1/2025 | 30,000 | 30,857 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Oklahoma — continued | ||
Oklahoma Development Finance Authority, Health System, Integris Obligated Group | ||
Series 2020C, Rev., VRDO, 3.80%, 12/13/2023 (c) | 15,610,000 | 15,610,000 |
Series 2015A, Rev., 5.00%, 8/15/2024 | 30,000 | 30,198 |
Oklahoma Development Finance Authority, State System Higher Education Master Real Property Series 2014A, Rev., 5.00%, 6/1/2024 | 50,000 | 50,362 |
Oklahoma Turnpike Authority Series 2017 D, Rev., 5.00%, 1/1/2025 | 215,000 | 219,234 |
Oklahoma Turnpike Authority, Second Senior Series 2020A, Rev., 5.00%, 1/1/2025 | 145,000 | 147,855 |
Tulsa County Industrial Authority Educational Facilities Lease, Broken Arrow Public Schools Project Rev., 5.00%, 9/1/2025 | 35,000 | 35,044 |
Total Oklahoma | 21,233,847 | |
Oregon — 0.1% | ||
City of Eugene, Electric Utility System Rev., 4.00%, 8/1/2024 | 140,000 | 140,071 |
City of Portland Water System, Second Lien Series 2013 A, Rev., 5.00%, 10/1/2025 | 250,000 | 250,235 |
Hospital Facilities Authority of Multnomah County Oregon, Adventist Health System Rev., 5.00%, 3/1/2025 (c) | 260,000 | 262,134 |
Metro, Oregon Convention Center Hotel Project Rev., 5.00%, 6/15/2025 | 20,000 | 20,566 |
Oregon State Facilities Authority, Providence Health & Services Series 2013A, Rev., 5.00%, 10/1/2024 | 110,000 | 110,046 |
Oregon State Lottery Series C, Rev., 5.00%, 4/1/2024 | 30,000 | 30,179 |
State of Oregon Series N, GO, 5.00%, 12/1/2023 | 125,000 | 125,000 |
State of Oregon, Housing and Community Services Department, Single-Family Mortgage Program | ||
Series 2020A, Rev., 0.88%, 12/21/2023 | 325,000 | 324,636 |
Series A, Rev., 3.00%, 12/21/2023 | 200,000 | 199,974 |
Series 2020A, Rev., 0.90%, 7/1/2024 | 435,000 | 428,091 |
Tri-County Metropolitan Transportation District of Oregon Series 2017A, Rev., 5.00%, 10/1/2025 | 50,000 | 51,626 |
Total Oregon | 1,942,558 | |
Pennsylvania — 5.9% | ||
Allegheny County Higher Education Building Authority, University Refunding Duquesne University Series 2016, Rev., 5.00%, 3/1/2027 | 40,000 | 41,440 |
Allegheny County Hospital Development Authority | ||
Series 1997B, Rev., NATL - RE, 6.00%, 7/1/2024 | 50,000 | 50,716 |
Series 2019A, Rev., 5.00%, 7/15/2024 | 835,000 | 842,753 |
Allegheny County Sanitary Authority Rev., 5.00%, 12/1/2026 | 65,000 | 65,070 |
Allegheny County Sanitary Authority, Sewer Series 2015, Rev., 5.00%, 12/1/2024 | 955,000 | 973,024 |
Ambridge Borough Water Authority Series 2019, Rev., 4.00%, 11/15/2024 | 25,000 | 25,134 |
Berks County Industrial Development Authority, The Highlands at Wyomissing Series 2018, Rev., 5.00%, 5/15/2025 (b) | 2,250,000 | 2,346,448 |
Bethel Park School District GO, 5.00%, 8/1/2025 | 35,000 | 36,091 |
Borough of Hanover Series 2020B, GO, 4.00%, 10/1/2024 | 25,000 | 25,132 |
Canon McMillan School District Series 2014C, GO, AGM, 5.00%, 12/15/2023 (b) | 1,500,000 | 1,500,773 |
Carlisle Area School District, Limited Tax GO, 3.00%, 9/1/2024 | 25,000 | 24,937 |
Centennial School District Bucks County | ||
Series 2017C, GO, 5.00%, 12/15/2023 | 55,000 | 55,027 |
Series 2017A, GO, 5.00%, 12/15/2024 | 25,000 | 25,423 |
Central Dauphin School District | ||
Series 2016, GO, 5.00%, 2/1/2024 (b) | 70,000 | 70,188 |
Series 2016, GO, 5.00%, 2/1/2026 | 25,000 | 25,990 |
Chambersburg Area School District Series A, GO, 5.00%, 3/1/2025 | 150,000 | 150,173 |
Cheltenham Township School District Series 2019A, GO, 4.00%, 2/15/2025 | 20,000 | 20,152 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Pennsylvania — continued | ||
City of Philadelphia | ||
Series 2014A, GO, 5.25%, 1/15/2024 (b) | 340,000 | 340,728 |
Series 2019B, GO, 5.00%, 2/1/2024 | 500,000 | 501,189 |
Series 2017A, GO, 5.00%, 8/1/2024 | 100,000 | 101,037 |
Series 2019 A, GO, 5.00%, 8/1/2025 | 100,000 | 102,791 |
Series 2017 A, GO, 5.00%, 8/1/2026 | 85,000 | 89,304 |
Series 2021A, GO, 5.00%, 5/1/2028 | 40,000 | 43,419 |
City of Philadelphia, Airport System | ||
Series 2017A, Rev., 5.00%, 7/1/2024 | 795,000 | 802,812 |
Series 2020A, Rev., 5.00%, 7/1/2024 | 125,000 | 126,228 |
Commonwealth Financing Authority | ||
Series B-1, Rev., 5.00%, 6/1/2024 | 120,000 | 120,944 |
Series B-1, Rev., AGM, 5.00%, 6/1/2025 | 50,000 | 51,301 |
Series 2019B, Rev., 5.00%, 6/1/2027 | 20,000 | 21,351 |
Commonwealth Financing Authority, Tobacco Master Settlement Payment | ||
Rev., 5.00%, 6/1/2025 | 275,000 | 280,826 |
Rev., 5.00%, 6/1/2027 | 90,000 | 94,854 |
Rev., 5.00%, 6/1/2028 | 125,000 | 133,654 |
Commonwealth of Pennsylvania | ||
Series 2014-1, GO, 5.00%, 6/15/2024 | 40,000 | 40,403 |
GO, 5.00%, 7/1/2024 | 25,000 | 25,273 |
Series 2016, GO, 5.00%, 9/15/2024 | 635,000 | 644,478 |
GO, 5.00%, 9/15/2026 | 20,000 | 21,217 |
Series 2018A, COP, 5.00%, 7/1/2028 | 420,000 | 454,551 |
Series 2013, GO, 4.00%, 10/15/2028 | 40,000 | 40,020 |
Council Rock School District Series 2019A, GO, 4.00%, 11/15/2025 | 35,000 | 35,596 |
County of Allegheny | ||
Series C-69, GO, 5.00%, 12/1/2023 | 50,000 | 50,000 |
Series C-74, GO, 5.00%, 12/1/2023 | 25,000 | 25,000 |
Series C-75, GO, 5.00%, 11/1/2027 | 20,000 | 21,130 |
County of Montgomery Series 2009C, GO, 5.00%, 12/15/2023 | 25,000 | 25,014 |
County of York Series 2016A, GO, 3.00%, 12/1/2023 | 30,000 | 30,000 |
Cumberland County Municipal Authority Series 2015, Rev., 5.00%, 1/1/2025 (b) | 1,780,000 | 1,811,643 |
Daniel Boone Area School District | ||
Series 2017, GO, 5.00%, 4/1/2024 | 40,000 | 40,209 |
Series 2017, GO, 5.00%, 4/1/2024 (b) | 20,000 | 20,116 |
Delaware County Authority, Villanova University Rev., 5.00%, 8/1/2024 | 55,000 | 55,631 |
Delaware County Industrial Development Authority, United Parcel Service Project Rev., VRDO, 2.35%, 12/1/2023 (c) | 40,000,000 | 40,000,000 |
Delaware River Port Authority | ||
Series 2013, Rev., 5.00%, 1/1/2024 (b) | 70,000 | 70,088 |
Series 2018B, Rev., 5.00%, 1/1/2024 | 75,000 | 75,099 |
Delaware Valley Regional Finance Authority, Local Government Series 2020B, Rev., 5.00%, 11/1/2024 | 100,000 | 101,574 |
East Hempfield Township Industrial Development Authority Series 2014, Rev., 5.00%, 7/1/2024 (b) | 550,000 | 554,934 |
Easton Area School District Series 2020A, GO, 4.00%, 4/1/2025 | 20,000 | 20,243 |
Elizabeth Forward School District | ||
Series 2021B, GO, AGM, 2.00%, 12/1/2023 | 20,000 | 20,000 |
Series 2021C, GO, AGM, 2.00%, 12/1/2023 | 10,000 | 10,000 |
Garnet Valley School District Series 2017, GO, 4.00%, 4/1/2027 | 35,000 | 35,432 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Pennsylvania — continued | ||
Geisinger Authority, Health System Series 2020B, Rev., 5.00%, 2/15/2027 (c) | 645,000 | 668,897 |
General Authority of Southcentral Pennsylvania, WellSpan Health Obligated Group Series 2019E, Rev., VRDO, LIQ : U.S. Bank NA, 2.00%, 12/1/2023 (c) | 10,000,000 | 10,000,000 |
Gettysburg Area School District GO, 5.00%, 1/15/2024 | 20,000 | 20,037 |
Hamburg Area School District Series 2020A, GO, 4.00%, 4/1/2024 | 60,000 | 60,153 |
Methacton School District GO, 4.00%, 9/15/2025 | 75,000 | 76,176 |
Monroeville Finance Authority, University of Pittsburg Medical Center Rev., 5.00%, 2/15/2026 | 55,000 | 57,023 |
Montgomery County Industrial Development Authority, Waverly Heights Ltd. Project Rev., 4.00%, 12/1/2023 | 125,000 | 125,000 |
North Allegheny School District, Unlimited Tax Series 2019A, GO, 4.00%, 5/1/2024 | 50,000 | 50,145 |
North Penn School District Series 2019A, GO, 3.00%, 1/15/2025 | 30,000 | 29,933 |
North Penn Water Authority Rev., (SIFMA Municipal Swap Index Yield + 0.56%), 3.54%, 12/14/2023 (d) | 1,225,000 | 1,225,020 |
Parkland School District Series 2020A, GO, 4.00%, 1/15/2024 | 20,000 | 20,016 |
Pennsylvania Economic Development Financing Authority Rev., 5.00%, 3/15/2026 | 75,000 | 77,882 |
Pennsylvania Economic Development Financing Authority, University of Pittsburgh Medical Center | ||
Series 2014A, Rev., 5.00%, 2/1/2025 | 70,000 | 70,629 |
Series 2017A, Rev., 5.00%, 11/15/2026 | 25,000 | 26,311 |
Pennsylvania Economic Development Financing Authority, UPMC Obligated Group Series 2016, Rev., 5.00%, 3/15/2024 | 175,000 | 175,720 |
Pennsylvania Higher Educational Facilities Authority | ||
Series AW, Rev., 5.00%, 6/15/2024 (b) | 5,000 | 5,045 |
Series AW, Rev., 5.00%, 6/15/2024 | 315,000 | 317,708 |
Series AQ, Rev., 5.00%, 6/15/2025 (b) | 15,000 | 15,425 |
Series AQ, Rev., 5.00%, 6/15/2025 | 80,000 | 82,105 |
Pennsylvania Higher Educational Facilities Authority, BRYN MAWR College | ||
Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
Rev., 5.00%, 12/1/2024 | 70,000 | 71,204 |
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System Series 2019, Rev., 5.00%, 8/15/2028 | 30,000 | 32,850 |
Pennsylvania Housing Finance Agency, Single Family Mortgage Series 2019-130A, Rev., 1.40%, 4/1/2024 | 260,000 | 256,702 |
Pennsylvania Turnpike Commission | ||
Series 2021C, Rev., 4.00%, 12/1/2023 | 275,000 | 275,000 |
Series 2011A, Rev., 5.00%, 12/1/2023 | 35,000 | 35,000 |
Series 2013C, Rev., 5.00%, 12/1/2023 (b) | 970,000 | 970,000 |
Series 2019, Rev., 5.00%, 12/1/2023 | 725,000 | 725,000 |
Series 2019 A, Rev., 5.00%, 12/1/2023 | 200,000 | 200,000 |
Series A-1, Rev., 5.00%, 12/1/2023 | 125,000 | 125,000 |
Series 2013 C, Rev., 5.50%, 12/1/2023 (b) | 50,000 | 50,000 |
Series B-3, Rev., 5.50%, 12/1/2023 (b) | 25,000 | 25,000 |
Rev., VRDO, LOC : TD Bank NA, 2.95%, 12/13/2023 (c) | 33,000,000 | 33,000,000 |
Series A-1, Rev., 5.00%, 12/1/2025 | 750,000 | 769,780 |
Series B-2, Rev., 5.00%, 6/1/2026 | 150,000 | 156,781 |
Series 2016B, Rev., 5.00%, 6/1/2027 | 20,000 | 20,875 |
Series 2016A-1, Rev., 5.00%, 12/1/2027 | 70,000 | 73,295 |
Series 2016A-3, Rev., 5.00%, 12/1/2027 | 55,000 | 57,876 |
Series 2017, Rev., 5.00%, 12/1/2028 | 100,000 | 107,155 |
Series 2021A, Rev., 5.00%, 12/1/2028 | 20,000 | 22,055 |
Series 2014, Rev., 5.00%, 12/1/2031 | 3,680,000 | 3,727,477 |
Series 2014A, Rev., 5.00%, 12/1/2038 | 2,685,000 | 2,717,518 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Pennsylvania — continued | ||
Series 2014C, Rev., 5.00%, 12/1/2039 | 6,660,000 | 6,735,978 |
Pennsylvania Turnpike Commission, Senior Lien Series 2012A, Rev., 5.00%, 12/1/2023 | 175,000 | 175,000 |
Perkiomen Valley School District GO, 5.00%, 3/1/2024 | 25,000 | 25,101 |
Peters Township School District Washington County GO, 5.00%, 1/15/2026 | 20,000 | 20,773 |
Philadelphia Authority for Industrial Development | ||
Series B-2, Rev., VRDO, LOC : TD Bank NA, 2.95%, 12/13/2023 (c) | 22,300,000 | 22,300,000 |
Series 2016, Rev., 5.00%, 4/1/2028 | 320,000 | 326,909 |
Philadelphia Gas Works Co. | ||
Series 13, Rev., 5.00%, 8/1/2024 | 810,000 | 818,132 |
Series 14TH, Rev., 5.00%, 10/1/2026 | 175,000 | 183,562 |
Reading Area Water Authority Rev., AGM, 4.00%, 12/1/2023 | 75,000 | 75,000 |
School District of Philadelphia (The) | ||
Series F, GO, 5.00%, 9/1/2024 | 5,545,000 | 5,601,062 |
Series F, GO, 5.00%, 9/1/2026 | 50,000 | 52,398 |
Southeastern Pennsylvania Transportation Authority | ||
Rev., 5.00%, 3/1/2025 | 45,000 | 46,023 |
Series 2020, Rev., 5.00%, 6/1/2026 | 165,000 | 172,823 |
Series 2020, Rev., 5.00%, 6/1/2028 | 30,000 | 32,467 |
Southeastern Pennsylvania Transportation Authority, Capital Grant Receipts Rev., 5.00%, 6/1/2024 | 20,000 | 20,155 |
Sports and Exhibition Authority of Pittsburgh and Allegheny County Series 2020, Rev., AGM, 4.00%, 2/1/2024 | 75,000 | 75,059 |
State Public School Building Authority, The School District of the City of Harrisburg Project Series 2016A, Rev., AGM, 4.00%, 12/1/2026 (b) | 15,000 | 15,493 |
Township of Hampden Series 2020, GO, 4.00%, 5/15/2024 | 25,000 | 25,065 |
Township of Lower Paxton GO, 4.00%, 4/1/2024 | 30,000 | 30,067 |
Upper Dublin School District Series 2017, GO, 5.00%, 11/15/2024 | 25,000 | 25,419 |
West Jefferson Hills School District | ||
GO, 3.00%, 8/1/2024 | 25,000 | 24,942 |
Series 2017A, GO, 5.00%, 8/1/2024 | 25,000 | 25,287 |
West View Municipal Authority Water Series 2014, Rev., 5.00%, 11/15/2024 (b) | 2,995,000 | 3,045,571 |
Total Pennsylvania | 149,715,639 | |
Rhode Island — 0.0% ^ | ||
Rhode Island Commerce Corp. | ||
Series 2016A, Rev., 5.00%, 6/15/2024 | 210,000 | 211,805 |
Series 2016 B, Rev., 5.00%, 6/15/2026 | 65,000 | 68,009 |
Series 2016B, Rev., 5.00%, 6/15/2027 | 195,000 | 203,853 |
Series 2016B, Rev., 5.00%, 6/15/2028 | 60,000 | 62,620 |
Rhode Island Commerce Corp., Department of Transportation Series 2016 B, Rev., 5.00%, 6/15/2025 | 50,000 | 51,301 |
Rhode Island Health and Educational Building Corp. Series 2016A, Rev., 5.00%, 5/15/2024 | 375,000 | 378,002 |
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund Series 2015A, Rev., 5.00%, 10/1/2024 (b) | 150,000 | 152,199 |
State of Rhode Island and Providence Plantations Capital Development Series 2019 E, GO, 5.00%, 1/15/2025 | 60,000 | 61,326 |
Total Rhode Island | 1,189,115 | |
South Carolina — 1.0% | ||
Beaufort County School District Series 2015B, GO, SCSDE, 5.00%, 3/1/2024 | 30,000 | 30,129 |
Berkeley County School District, Securing Assets for Education Series 2015A, Rev., 5.00%, 12/1/2023 | 95,000 | 95,000 |
Berkeley County School District, South Carolina Project Series 2015A, Rev., 5.00%, 12/1/2023 | 350,000 | 350,000 |
Charleston Educational Excellence Finance Corp. | ||
Series 2013 B, Rev., 5.00%, 12/1/2023 (b) | 25,000 | 25,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
South Carolina — continued | ||
Series 2013B, Rev., 5.00%, 12/1/2023 | 815,000 | 815,000 |
Charleston Educational Excellence Finance Corp., Installment Purchase, Charleston County School District, South Carolina Project | ||
Series 2014, Rev., 5.00%, 12/1/2023 | 100,000 | 100,000 |
Series 2014, Rev., 5.00%, 12/1/2024 | 50,000 | 50,885 |
City of Bennettsville Series 2013, Rev., 4.25%, 2/1/2024 (b) | 20,000 | 20,030 |
City of Charleston Waterworks And Sewer System Series 2017, Rev., 5.00%, 1/1/2024 | 50,000 | 50,068 |
City of Columbia Waterworks And Sewer System Series 2016 A, Rev., 5.00%, 2/1/2024 | 50,000 | 50,145 |
City of Hanahan Series 2021, GO, 5.00%, 3/1/2024 | 25,000 | 25,094 |
Dorchester County School District No. 2 Series 2013B, Rev., 5.00%, 12/1/2023 | 1,075,000 | 1,076,085 |
Dorchester County School District No. 2, Growth Installment Purchase | ||
Series 2013B, Rev., 4.00%, 12/1/2023 | 6,320,000 | 6,321,972 |
Series 2013B, Rev., 5.00%, 12/1/2023 | 50,000 | 50,000 |
Greenwood Fifty Schools Facilities, Inc. Series 2016, Rev., 5.00%, 12/1/2023 | 85,000 | 85,000 |
Lancaster Educational Assistance Program, Inc., School District Project Series 2013B, Rev., 5.00%, 12/1/2023 | 35,000 | 35,000 |
Lexington County School District No. 1 Series 2017C, GO, SCSDE, 5.00%, 2/1/2024 | 70,000 | 70,178 |
Patriots Energy Group Financing Agency Series 2018A, Rev., LIQ : Royal Bank of Canada, 4.00%, 2/1/2024 (c) | 4,395,000 | 4,399,948 |
Piedmont Municipal Power Agency | ||
Series 2017A, Rev., 5.00%, 1/1/2024 | 110,000 | 110,096 |
Series 2017B, Rev., 5.00%, 1/1/2024 | 165,000 | 165,144 |
Rev., NATL - RE, 5.38%, 1/1/2025 | 105,000 | 107,212 |
Series 2015A, Rev., 5.00%, 1/1/2026 | 1,700,000 | 1,724,804 |
SCAGO Educational Facilities Corp. for Pickens School District | ||
Series 2015, Rev., 5.00%, 12/1/2023 | 50,000 | 50,000 |
Rev., 5.00%, 12/1/2027 | 85,000 | 87,043 |
South Carolina Jobs-Economic Development Authority, Anmed Health Project Rev., 5.00%, 2/1/2024 | 25,000 | 25,053 |
South Carolina Jobs-Economic Development Authority, Bon Secours Mercy Health, Inc. Series 2020B, Rev., 5.00%, 10/1/2025 (c) | 990,000 | 1,014,394 |
South Carolina Jobs-Economic Development Authority, York Preparatory Academy Project Series 2014A, Rev., 7.25%, 11/1/2024 (b) (e) | 5,250,000 | 5,420,717 |
South Carolina Public Service Authority | ||
Series 2014C, Rev., 5.00%, 12/1/2024 | 50,000 | 50,616 |
Series 2022A, Rev., 5.00%, 12/1/2026 | 465,000 | 486,047 |
South Carolina Public Service Authority, Santee Cooper | ||
Series 2013A, Rev., 5.75%, 12/1/2023 (b) | 40,000 | 40,000 |
Series A, Rev., 5.00%, 12/1/2026 | 1,170,000 | 1,191,090 |
South Carolina Transportation Infrastructure Bank Series 2015A, Rev., 5.00%, 10/1/2024 | 125,000 | 126,945 |
University of South Carolina, Higher Education Facilities Rev., 5.00%, 5/1/2025 | 70,000 | 71,962 |
Total South Carolina | 24,320,657 | |
South Dakota — 0.0% ^ | ||
County of Pennington, Limited Tax Series 2017A, COP, 3.00%, 12/1/2023 | 100,000 | 100,000 |
Sioux Falls School District No. 49-5 Series 2017C, GO, 5.00%, 2/1/2024 | 120,000 | 120,291 |
South Dakota Board of Regents Housing and Auxiliary Facilities System Series 2015, Rev., 5.00%, 4/1/2024 | 20,000 | 20,108 |
South Dakota State Building Authority | ||
Series 2019A, Rev., 4.00%, 6/1/2024 | 30,000 | 30,106 |
Series E, Rev., 5.00%, 6/1/2024 | 50,000 | 50,418 |
Series D, Rev., 5.00%, 9/1/2024 | 25,000 | 25,317 |
Total South Dakota | 346,240 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Tennessee — 0.2% | ||
City of Chattanooga GO, 3.13%, 10/1/2025 | 140,000 | 139,934 |
City of Clarksville Water Sewer And Gas Series 2016, Rev., 5.00%, 2/1/2024 | 40,000 | 40,113 |
City of Johnson City Series 2019, GO, 5.00%, 6/1/2024 | 30,000 | 30,287 |
City of Knoxville, Wastewater System Series 2020A, Rev., 5.00%, 4/1/2024 | 35,000 | 35,201 |
City of Memphis Series 2014B, GO, 5.00%, 4/1/2024 | 30,000 | 30,179 |
County of Maury GO, 5.00%, 4/1/2024 | 30,000 | 30,178 |
County of Wilson | ||
Series 2016, GO, 5.00%, 4/1/2024 | 200,000 | 201,214 |
GO, 4.00%, 4/1/2025 | 750,000 | 750,548 |
Harpeth Valley Utilities District of Davidson and Williamson Counties Series 2015, Rev., 5.00%, 9/1/2024 | 20,000 | 20,276 |
Johnson City Health and Educational Facilities Board, Ballad Health Series 2023A, Rev., 5.00%, 7/1/2025 | 755,000 | 768,853 |
Knox County Health Educational and Housing Facility Board, Covenant Health | ||
Series 2012A, Rev., 5.00%, 1/1/2024 | 85,000 | 85,084 |
Series 2012A, Rev., 5.00%, 1/1/2026 | 25,000 | 25,236 |
Memphis-Shelby County Industrial Development Board | ||
Series 2017B, Rev., 5.00%, 11/1/2025 | 55,000 | 56,912 |
Series 2017B, Rev., 5.00%, 11/1/2026 | 45,000 | 47,526 |
Metropolitan Government of Nashville & Davidson County Series 2016, GO, 5.00%, 1/1/2024 | 75,000 | 75,103 |
State of Tennessee Series A, GO, 5.00%, 8/1/2025 (b) | 610,000 | 630,324 |
Tennessee Energy Acquisition Corp., Commodity Project | ||
Series 2021A, Rev., 5.00%, 11/1/2025 | 350,000 | 356,564 |
Series 2021A, Rev., 5.00%, 11/1/2026 | 500,000 | 514,968 |
Tennessee State School Bond Authority Series 2015B, Rev., 5.00%, 11/1/2025 (b) | 25,000 | 25,954 |
Tennessee State School Bond Authority Higher Education Facilities Second Program Series 2014B, Rev., 5.00%, 11/1/2024 (b) | 50,000 | 50,810 |
Tennessee State School Bond Authority, Higher Educational Facilities Second Program Series B, Rev., 5.00%, 11/1/2024 | 20,000 | 20,331 |
Town of Smyrna GO, 5.00%, 4/1/2024 | 30,000 | 30,177 |
Total Tennessee | 3,965,772 | |
Texas — 6.5% | ||
Arlington Higher Education Finance Corp. Series 2014A, Rev., PSF-GTD, 5.00%, 8/15/2024 (b) | 1,000,000 | 1,010,900 |
Austin Independent School District Series A, GO, PSF-GTD, 4.00%, 8/1/2025 (b) | 1,905,000 | 1,935,079 |
Bay City Independent School District, Unlimited Tax GO, PSF-GTD, 5.00%, 2/15/2025 | 40,000 | 40,888 |
Bexar County Hospital District, Limited Tax GO, 5.00%, 2/15/2025 | 55,000 | 56,176 |
Brazosport Water Authority Series 2015C, Rev., 5.00%, 9/1/2024 | 40,000 | 40,490 |
Cameron County Housing Finance Corp.Sunland Country Apartments Series 2021, Rev., 3.95%, 2/1/2024 | 3,500,000 | 3,499,478 |
Camino Real Regional Mobility Authority, Senior Lien Series 2014, Rev., 5.00%, 6/1/2024 | 25,000 | 25,204 |
Central Texas Regional Mobility Authority Series A, Rev., 5.00%, 7/1/2025 (b) | 20,000 | 20,602 |
Central Texas Regional Mobility Authority, Subordinated Lien Series 2020F, Rev., BAN, 5.00%, 1/1/2025 | 185,000 | 186,476 |
Central Texas Turnpike System Series C, Rev., 5.00%, 8/15/2025 | 750,000 | 757,391 |
City of Abilene GO, 5.00%, 2/15/2024 | 25,000 | 25,083 |
City of Austin Series 2019B, Rev., 5.00%, 11/15/2024 | 100,000 | 101,750 |
City of Austin Airport System Series 2017A, Rev., 5.00%, 11/15/2027 | 205,000 | 215,371 |
City of Austin, Water and Wastewater System Series 2013A, Rev., 5.00%, 11/15/2024 | 15,000 | 15,020 |
City of Brownsville | ||
Rev., AGM, 5.00%, 9/1/2025 | 1,265,000 | 1,300,776 |
Series 2013A, Rev., 5.00%, 9/1/2025 | 200,000 | 200,234 |
City of Brownsville, Utilities System Series 2013A, Rev., 5.00%, 9/1/2024 | 275,000 | 275,294 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Texas — continued | ||
City of Buda GO, 5.00%, 8/15/2024 | 20,000 | 20,238 |
City of Cedar Hill, Refunding and Improvement GO, 5.00%, 2/15/2025 | 40,000 | 40,907 |
City of Conroe | ||
Series 2018B, GO, 5.00%, 11/15/2024 | 110,000 | 111,925 |
Series 2019A, GO, 5.00%, 3/1/2025 | 35,000 | 35,817 |
City of Copperas Cove GO, 4.00%, 8/15/2025 | 25,000 | 25,319 |
City of Dallas | ||
GO, 5.00%, 2/15/2024 | 205,000 | 205,664 |
Series 2019 B, GO, 5.00%, 2/15/2024 | 35,000 | 35,113 |
Series 2013A, GO, 5.00%, 2/15/2025 | 25,000 | 25,034 |
Series 2014, GO, 5.00%, 2/15/2026 | 85,000 | 85,224 |
Series 2014, GO, 5.00%, 2/15/2028 | 100,000 | 100,268 |
City of Deer Park GO, 3.00%, 3/15/2024 | 25,000 | 24,978 |
City of Denton Series 2022, GO, 5.00%, 2/15/2024 | 1,200,000 | 1,204,364 |
City of Denton Utility System Series 2017, Rev., 5.00%, 12/1/2027 | 50,000 | 52,439 |
City of Denton, Utility System Rev., 5.00%, 12/1/2023 | 630,000 | 630,000 |
City of Donna, Combination Tax And International Toll Bridge Series 2016, GO, 5.00%, 2/15/2024 (b) | 50,000 | 50,153 |
City of El Paso Water and Sewer Series 2014, Rev., 5.00%, 3/1/2024 (b) | 300,000 | 301,203 |
City of Farmers Branch GO, 4.00%, 2/15/2025 | 35,000 | 35,328 |
City of Friendswood, Waterworks & Sewer System Revenue Series 2018, Rev., 5.00%, 3/1/2024 | 25,000 | 25,097 |
City of Frisco, Collin and Denton Counties GO, 5.00%, 2/15/2025 | 35,000 | 35,811 |
City of Garland Series 2016, GO, 5.00%, 2/15/2024 | 20,000 | 20,067 |
City of Garland, Electric Utility System Series 2016B, Rev., 5.00%, 3/1/2025 | 415,000 | 423,564 |
City of Georgetown Series 2018, GO, 5.00%, 8/15/2024 | 40,000 | 40,484 |
City of Granbury Series 2016A, GO, 4.00%, 8/15/2025 | 35,000 | 35,545 |
City of Grand Prairie GO, 5.00%, 2/15/2024 | 40,000 | 40,124 |
City of Heath, Combination Tax and Surplus GO, 5.00%, 2/15/2025 | 40,000 | 40,865 |
City of Houston | ||
Series 2016A, GO, 5.00%, 3/1/2024 | 35,000 | 35,151 |
Series 2021A, GO, 5.00%, 3/1/2026 | 20,000 | 20,872 |
City of Houston Combined Utility System First Lien Series 2014 C, Rev., 5.00%, 5/15/2026 | 60,000 | 60,440 |
City of Houston, Airport System, Subordinate Lien | ||
Series 2018D, Rev., 5.00%, 7/1/2026 | 45,000 | 47,320 |
Series 2020B, Rev., 5.00%, 7/1/2026 | 100,000 | 105,156 |
Series 2020B, Rev., 5.00%, 7/1/2027 | 50,000 | 53,727 |
Series 2023B, Rev., AGM, 5.00%, 7/1/2028 | 35,000 | 38,353 |
City of Houston, Combined Utility System, Junior Lien Series A, Rev., AGM, Zero Coupon, 12/1/2024 | 85,000 | 82,107 |
City of Houston, Water and Sewer System Series 1998A, Rev., AGM, Zero Coupon, 12/1/2023 (b) | 80,000 | 80,000 |
City of Kenedy, Combination Tax GO, 4.00%, 5/1/2025 | 25,000 | 25,286 |
City of Lakeway GO, 4.00%, 2/1/2024 | 45,000 | 45,043 |
City of Laredo GO, 5.00%, 2/15/2024 | 75,000 | 75,137 |
City of Laredo, Combination Tax GO, 5.00%, 2/15/2025 | 40,000 | 40,780 |
City of Lubbock | ||
GO, 5.00%, 2/15/2024 | 135,000 | 135,469 |
GO, 5.00%, 2/15/2027 | 20,000 | 20,316 |
City of Lubbock, Electric Light and Power System | ||
Rev., 5.00%, 4/15/2024 | 425,000 | 427,435 |
Series 2018, Rev., 5.00%, 4/15/2024 | 500,000 | 502,864 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Texas — continued | ||
Series 2021, Rev., 5.00%, 4/15/2028 | 35,000 | 37,547 |
City of Mansfield, Combination Tax GO, 2.00%, 2/15/2024 | 25,000 | 24,918 |
City of McKinney GO, 5.00%, 8/15/2025 | 25,000 | 25,762 |
City of McKinney Waterworks and Sewer System Series 2016, Rev., 5.00%, 3/15/2024 | 50,000 | 50,240 |
City of Midland Series 2018A, GO, 5.00%, 3/1/2025 | 70,000 | 71,668 |
City of Midland, Certificates of Obligation GO, 5.00%, 3/1/2025 | 40,000 | 40,953 |
City of Midlothian, Combination Tax, Navarro College District GO, 3.00%, 8/15/2024 | 25,000 | 24,882 |
City of Missouri City | ||
GO, 5.00%, 6/15/2024 | 110,000 | 110,963 |
Series 2018A, GO, 5.00%, 6/15/2024 | 25,000 | 25,219 |
City of Missouri City, Combination Tax, Certificates of Obligation Series 2018B, GO, 4.00%, 6/15/2025 | 25,000 | 25,302 |
City of Mont Belvieu, Certificates of Obligation Series 2017A, GO, 5.00%, 8/15/2024 | 25,000 | 25,297 |
City of New Braunfels Series 2016, Rev., 5.00%, 7/1/2024 | 150,000 | 151,551 |
City of New Braunfels, Combination Tax, Certificates of Obligation GO, 5.00%, 2/1/2025 | 40,000 | 40,761 |
City of Odessa Series 2015, GO, 5.00%, 3/1/2024 | 250,000 | 250,997 |
City of Pasadena Series 2012A, GO, 5.00%, 2/15/2024 | 55,000 | 55,078 |
City of Pearland, Permanent Improvement | ||
GO, 5.00%, 3/1/2024 | 40,000 | 40,167 |
Series 2016B, GO, 5.00%, 3/1/2024 | 25,000 | 25,105 |
City of Plano Series 2022, GO, 4.00%, 9/1/2024 | 1,370,000 | 1,378,130 |
City of Port Aransas, Combination Tax, Certificates of Obligation GO, 4.00%, 2/1/2025 | 25,000 | 25,251 |
City of Rockwall, General Obligation Series 2013, GO, 5.00%, 8/1/2024 | 55,000 | 55,073 |
City of Round Rock Series 2017, GO, 5.00%, 8/15/2024 | 30,000 | 30,388 |
City of Sachse, Combination Tax and Limited Surplus Series 2017A, GO, 4.00%, 2/15/2025 | 65,000 | 65,679 |
City of San Antonio Series 2016, GO, 5.00%, 2/1/2024 | 140,000 | 140,396 |
City of San Antonio Electric and Gas Systems | ||
Series 2022, Rev., 5.00%, 2/1/2024 | 25,000 | 25,067 |
Series 2012, Rev., 5.25%, 2/1/2025 | 25,000 | 25,592 |
City of San Antonio Electric And Gas Systems Series 2016, Rev., 5.00%, 2/1/2024 (b) | 40,000 | 40,104 |
City of San Antonio, Drainage Utility System | ||
Rev., 5.00%, 2/1/2024 | 100,000 | 100,132 |
Rev., 5.00%, 2/1/2027 | 50,000 | 50,065 |
City of San Antonio, Electric and Gas Systems | ||
Series 2015, Rev., 5.00%, 2/1/2024 | 100,000 | 100,267 |
Rev., 5.25%, 2/1/2024 | 805,000 | 807,461 |
City of San Marcos, Combination Tax, Certificates of Obligation GO, 5.00%, 8/15/2024 | 35,000 | 35,395 |
City of Sherman, Combination Tax, Certificates of Obligation GO, 5.00%, 8/15/2024 | 25,000 | 25,275 |
City of Waco GO, 5.00%, 2/1/2026 | 90,000 | 90,239 |
City of Waco, Combination Tax, Certificates of Obligation | ||
GO, 5.00%, 2/1/2024 | 20,000 | 20,056 |
GO, 5.00%, 2/1/2025 | 30,000 | 30,650 |
City of Waxahachie | ||
Series 2016 B, GO, 5.00%, 8/1/2024 | 25,000 | 25,261 |
Series 2016A, GO, 5.00%, 8/1/2024 | 60,000 | 60,626 |
City of Waxahachie, Combination Tax, Certificates of Obligation GO, 4.00%, 8/1/2024 | 25,000 | 25,100 |
City of Weatherford GO, 4.00%, 3/1/2025 | 30,000 | 30,294 |
City of Weslaco Series 2016, GO, 5.00%, 2/15/2025 | 50,000 | 51,081 |
City of Weslaco, Certificates of Obligation GO, 5.00%, 2/15/2024 | 20,000 | 20,061 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Texas — continued | ||
Clear Creek Independent School District Series 2018, GO, PSF-GTD, 5.00%, 2/15/2024 | 40,000 | 40,144 |
Collin County Community College District Series 2018, GO, 5.00%, 8/15/2025 | 70,000 | 72,333 |
Columbia-Brazoria Independent School District, Unlimited Tax GO, PSF-GTD, 3.00%, 2/1/2025 | 200,000 | 198,990 |
Comal Independent School District | ||
Series 2017, GO, PSF-GTD, 5.00%, 2/1/2024 | 100,000 | 100,275 |
Series B, GO, PSF-GTD, 5.00%, 2/1/2024 | 50,000 | 50,137 |
Comal Independent School District, Unlimited Tax | ||
GO, PSF-GTD, 5.00%, 2/1/2025 | 55,000 | 56,179 |
Series B, GO, PSF-GTD, 5.00%, 2/1/2025 | 25,000 | 25,073 |
Conroe Independent School District Series 2014, GO, PSF-GTD, 5.00%, 2/15/2024 | 45,000 | 45,146 |
County of Bexar Series 2016, GO, 4.00%, 6/15/2025 (b) | 25,000 | 25,356 |
County of Bexar, Combination Tax, Certficates of Obligation Series 2014, GO, 5.00%, 6/15/2024 (b) | 65,000 | 65,623 |
County of Bexar, Flood Control Tax GO, 5.00%, 6/15/2024 | 45,000 | 45,453 |
County of Collin Series 2023, GO, 5.00%, 2/15/2024 | 400,000 | 401,415 |
County of Comal, Limited Tax GO, 4.00%, 2/1/2025 | 35,000 | 35,347 |
County of El Paso Series 2015, GO, 5.00%, 2/15/2024 | 45,000 | 45,128 |
County of Fort Bend | ||
Series 2014, GO, 4.50%, 3/1/2024 | 35,000 | 35,032 |
Series B, GO, 5.00%, 3/1/2025 | 60,000 | 61,363 |
County of Galveston, Limited Tax GO, 5.00%, 2/1/2025 | 30,000 | 30,612 |
County of Harris | ||
Series 2016 A, Rev., 5.00%, 8/15/2024 | 100,000 | 101,273 |
Series 2022A, GO, 5.00%, 10/1/2024 | 2,240,000 | 2,275,040 |
Series 2015 B, Rev., 5.00%, 8/15/2026 | 40,000 | 41,094 |
Series 2016 A, Rev., 5.00%, 8/15/2027 | 35,000 | 36,682 |
County of Harris, Unlimited Tax Series 2022A, GO, 5.00%, 10/1/2024 | 220,000 | 223,441 |
County of Hays, Limited Tax GO, 5.00%, 2/15/2025 | 35,000 | 35,786 |
County of La Salle Series 2018 A, GO, AGM, 5.00%, 3/1/2024 | 125,000 | 125,514 |
County of Montgomery Series 2014A, GO, 5.00%, 3/1/2027 | 1,410,000 | 1,414,248 |
County of Nueces GO, 4.00%, 2/15/2025 | 10,000 | 10,089 |
County of Nueces, Combination Tax, Certificates of Obligation GO, 4.00%, 2/15/2025 (b) | 15,000 | 15,124 |
County of Taylor, Limited Tax GO, 5.00%, 2/15/2025 | 30,000 | 30,638 |
County of Tom Green, Combination Tax and Limited Surplus GO, 5.00%, 2/1/2025 | 35,000 | 35,694 |
County of Williamson | ||
Series 2014, GO, 4.00%, 2/15/2024 (b) | 45,000 | 45,068 |
Series 2014, GO, 5.00%, 2/15/2024 (b) | 3,640,000 | 3,652,561 |
Series 2014, GO, 5.00%, 2/15/2025 | 405,000 | 406,551 |
Cypress-Fairbanks Independent School District Series 2014C, GO, PSF-GTD, 5.00%, 2/15/2024 | 105,000 | 105,360 |
Dallas Area Rapid Transit Series 2014A, Rev., 5.00%, 12/1/2024 (b) | 400,000 | 406,921 |
Dallas Area Rapid Transit, Sales Tax, Senior Lien | ||
Rev., 5.00%, 12/1/2024 | 105,000 | 106,806 |
Series 2014A, Rev., 5.00%, 12/1/2024 | 210,000 | 213,613 |
Dallas County Park Cities Municipal Utility District Rev., 4.00%, 8/1/2025 | 25,000 | 25,354 |
Dallas County Utility and Reclamation District Series 2016, GO, 5.00%, 2/15/2028 | 385,000 | 411,973 |
Dallas County Utility and Reclamation District, Unlimited Tax Series 2016, GO, 5.00%, 2/15/2025 | 100,000 | 102,020 |
Dallas Fort Worth International Airport | ||
Series 2021B, Rev., 5.00%, 11/1/2024 | 50,000 | 50,800 |
Series 2020B, Rev., 5.00%, 11/1/2025 | 30,000 | 31,077 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Texas — continued | ||
Series 2020 A, Rev., 5.00%, 11/1/2026 | 30,000 | 31,787 |
Series 2023B, Rev., 5.00%, 11/1/2026 | 1,600,000 | 1,695,327 |
Series 2023B, Rev., 5.00%, 11/1/2027 | 1,500,000 | 1,623,050 |
Series 2023B, Rev., 5.00%, 11/1/2028 | 1,000,000 | 1,102,521 |
Dallas Independent School District, Unlimited Tax | ||
Series 2016 A, GO, PSF-GTD, 5.00%, 2/15/2024 | 50,000 | 50,180 |
Series 2014A, GO, PSF-GTD, 5.00%, 8/15/2024 (b) | 30,000 | 30,368 |
Series 2016A, GO, PSF-GTD, 4.00%, 2/15/2025 (b) | 25,000 | 25,206 |
GO, PSF-GTD, 5.00%, 2/15/2025 | 50,000 | 51,158 |
Denton County Housing Finance Corp., THF Pathway on Woodrow LP Series 2022, Rev., 5.00%, 2/1/2025 (c) | 3,925,000 | 3,977,309 |
DeSoto Independent School District Series 2013, GO, PSF-GTD, Zero Coupon, 8/15/2025 | 500,000 | 466,728 |
El Paso Housing Finance Corp., Columbia Housing Partners LP Rev., 4.50%, 3/1/2025 (c) | 3,500,000 | 3,521,807 |
Floresville Independent School District, Unlimited Tax GO, PSF-GTD, 3.00%, 2/1/2025 | 35,000 | 34,835 |
Fort Worth Independent School District Series 2014, GO, PSF-GTD, 5.00%, 2/15/2024 (b) | 50,000 | 50,173 |
Frisco Independent School District Series 2016A, GO, PSF-GTD, 5.00%, 8/15/2025 | 2,500,000 | 2,581,659 |
Galveston Public Facility Corp., The Oleanders at Broadway Rev., 0.47%, 8/1/2024 (c) | 3,775,000 | 3,680,985 |
Garland Independent School District, Unlimited Tax, School Building | ||
Series 2016, GO, PSF-GTD, 5.00%, 2/15/2025 | 20,000 | 20,439 |
Series A, GO, PSF-GTD, 5.00%, 2/15/2025 | 50,000 | 51,099 |
Goose Creek Consolidated Independent School District Series 2014 A, GO, PSF-GTD, 5.00%, 2/15/2024 (b) | 90,000 | 90,302 |
Hallsville Independent School District Series 2020, GO, PSF-GTD, 5.00%, 2/15/2025 | 100,000 | 102,162 |
Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health System | ||
Series 2019A, Rev., 5.00%, 12/1/2023 | 130,000 | 130,000 |
Series 2019C-2, Rev., (SIFMA Municipal Swap Index Yield + 0.57%), 3.55%, 12/14/2023 (d) | 575,000 | 574,746 |
Series 2014A, Rev., 5.00%, 12/1/2024 | 25,000 | 25,413 |
Series 2019A, Rev., 5.00%, 12/1/2024 | 385,000 | 391,359 |
Series 2020C-2, Rev., 5.00%, 12/1/2024 (c) | 360,000 | 364,785 |
Series 2014A, Rev., 5.00%, 12/1/2025 | 20,000 | 20,320 |
Series 2014A, Rev., 5.00%, 12/1/2027 | 25,000 | 25,325 |
Harris County Health Facilities Development Corp., Sisters of Charity of the Incarnate Word Series 1997B, Rev., 5.75%, 7/1/2027 (b) | 5,995,000 | 6,279,518 |
Hidalgo County Regional Mobility Authority | ||
Series 2013, Rev., 5.00%, 12/1/2023 (b) | 50,000 | 50,000 |
Series 2013, Rev., 5.25%, 12/1/2023 (b) | 900,000 | 900,000 |
Hidalgo County Regional Mobility Authority, Senior Lien Series 2013, Rev., 5.00%, 12/1/2023 | 100,000 | 100,000 |
Housing Options, Inc., Brooks Manor - The Oaks Project Rev., 0.50%, 3/1/2025 (c) | 6,250,000 | 5,941,497 |
Houston Community College System Series 2021 A, GO, 5.00%, 2/15/2024 | 115,000 | 115,377 |
Houston Housing Finance Corp. Multi Family Housing Sunset Garden Apartments Series 2022, Rev., FHA, 4.00%, 10/1/2024 (c) | 300,000 | 300,011 |
Houston Independent School District Series 2014B, GO, PSF-GTD, 4.00%, 2/15/2027 | 25,000 | 25,028 |
Houston Independent School District, Limited Tax Schoolhouse GO, PSF-GTD, 5.00%, 2/15/2025 | 155,000 | 158,535 |
Humble Independent School District, Unlimited Tax School Building Series 2020A, GO, PSF-GTD, 5.00%, 2/15/2025 | 35,000 | 35,790 |
Joshua Independent School District Series 2015, GO, PSF-GTD, 5.00%, 8/15/2024 (b) | 65,000 | 65,798 |
Keller Independent School District Series 2015, GO, PSF-GTD, 5.00%, 2/15/2025 (b) | 20,000 | 20,459 |
Klein Independent School District, Unlimited Tax | ||
Series 2015A, GO, PSF-GTD, 5.00%, 8/1/2024 | 65,000 | 65,793 |
GO, PSF-GTD, 5.00%, 2/1/2025 | 50,000 | 51,100 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Texas — continued | ||
Leander Independent School District, Unlimited Tax | ||
Series 2023, GO, PSF-GTD, 5.00%, 2/15/2024 | 65,000 | 65,223 |
Series 2014 C, GO, PSF-GTD, Zero Coupon, 8/15/2024 (b) | 35,000,000 | 11,668,769 |
Lewisville Independent School District, Unlimited Tax | ||
Series 2023, GO, PSF-GTD, 5.00%, 8/15/2024 | 8,500,000 | 8,612,917 |
Series 2023, GO, PSF-GTD, 5.00%, 8/15/2026 | 925,000 | 976,107 |
Lower Colorado River Authority, LCRA Transmission services Corp. Project Series 2023, Rev., AGM, 5.00%, 5/15/2028 | 80,000 | 87,072 |
Lower Colorado River Authority, LCRA Transmission Services Corp. Project | ||
Series 2016, Rev., 5.00%, 5/15/2024 | 100,000 | 100,778 |
Series 2019, Rev., 5.00%, 5/15/2024 | 25,000 | 25,195 |
Series 2022, Rev., 5.00%, 5/15/2024 | 285,000 | 287,218 |
Series 2022A, Rev., 5.00%, 5/15/2024 | 800,000 | 806,226 |
Rev., 5.00%, 5/15/2025 | 170,000 | 174,642 |
Rev., 5.00%, 5/15/2026 | 1,225,000 | 1,231,213 |
Series 2019A, Rev., 5.00%, 5/15/2026 | 150,000 | 157,178 |
Series 2019, Rev., 5.00%, 5/15/2028 | 105,000 | 113,962 |
Mansfield Independent School District Series 2014, GO, PSF-GTD, 4.00%, 2/15/2024 (b) | 25,000 | 25,035 |
Metropolitan Transit Authority of Harris County, Sales and Use Tax | ||
Series 2017B, Rev., 5.00%, 11/1/2025 | 3,040,000 | 3,151,419 |
Series 2018, Rev., 5.00%, 11/1/2026 | 550,000 | 583,717 |
Midlothian Independent School District Series 2014, GO, PSF-GTD, 5.00%, 2/15/2024 (b) | 70,000 | 70,228 |
New Hope Cultural Education Facilities Finance Corp., Student Housing CHF Collegiate Housing Stephenville Tarleton State University Project Series A, Rev., 5.00%, 4/1/2025 (b) | 1,630,000 | 1,663,138 |
New Hope Cultural Education Facilities Finance Corp., Student Housing Texas A&M University Series 2017A, Rev., 5.00%, 4/1/2025 (b) | 1,105,000 | 1,129,630 |
North East Independent School District | ||
Series 2014B, GO, PSF-GTD, 5.00%, 2/1/2024 | 40,000 | 40,112 |
Series 2014B, GO, PSF-GTD, 5.00%, 2/1/2024 (b) | 250,000 | 250,650 |
Series 2007, GO, PSF-GTD, 5.25%, 2/1/2024 | 300,000 | 300,961 |
North Harris County Regional Water Authority Series 2016, Rev., 5.00%, 12/15/2023 | 135,000 | 135,070 |
North Texas Municipal Water District Water System | ||
Series 2015, Rev., 5.00%, 6/1/2024 | 230,000 | 231,922 |
Series 2019A, Rev., 3.00%, 9/1/2024 | 40,000 | 39,890 |
Rev., 5.00%, 9/1/2024 | 30,000 | 30,380 |
Series 2014, Rev., 5.00%, 9/1/2024 | 200,000 | 200,893 |
North Texas Tollway Authority | ||
Series 2015B, Rev., 5.00%, 1/1/2024 | 100,000 | 100,127 |
Series A, Rev., 5.00%, 1/1/2024 | 305,000 | 305,382 |
Series 2020A, Rev., 5.00%, 1/1/2026 | 70,000 | 72,735 |
Series 2019 B, Rev., 5.00%, 1/1/2028 | 25,000 | 26,970 |
North Texas Tollway Authority System, Second Tier | ||
Series 2022B, Rev., 5.00%, 1/1/2024 | 30,000 | 30,041 |
Series 2019 B, Rev., 5.00%, 1/1/2027 | 235,000 | 249,057 |
North Texas Tollway Authority, First Tier | ||
Series 2016A, Rev., 5.00%, 1/1/2024 | 2,050,000 | 2,052,387 |
Series 2019A, Rev., 5.00%, 1/1/2024 | 20,000 | 20,025 |
Series A, Rev., 5.00%, 1/1/2024 | 60,000 | 60,068 |
Series 2016A, Rev., 5.00%, 1/1/2025 | 160,000 | 160,200 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Texas — continued | ||
Series A, Rev., 5.00%, 1/1/2025 | 235,000 | 235,523 |
Series A, Rev., 5.00%, 1/1/2026 | 55,000 | 55,049 |
Series A, Rev., 5.00%, 1/1/2028 | 55,000 | 57,189 |
North Texas Tollway Authority, Second Tier | ||
Series B, Rev., 5.00%, 1/1/2024 | 20,000 | 20,023 |
Series B, Rev., 5.00%, 1/1/2025 | 50,000 | 50,061 |
Series B, Rev., 5.00%, 1/1/2026 | 260,000 | 260,209 |
Northwest Independent School District, Unlimited Tax Series 2016A, GO, PSF-GTD, 5.00%, 2/15/2026 (b) | 600,000 | 626,124 |
Pasadena Independent School District Series 2023B, GO, 5.00%, 2/15/2027 | 1,500,000 | 1,600,627 |
Plano Independent School District Series 2023, GO, 5.00%, 2/15/2024 | 20,000 | 20,071 |
Red River Education Finance Corp., Christian University Project Series 2016A, Rev., 5.00%, 3/15/2025 | 50,000 | 51,067 |
Richardson Independent School District, Unlimited Tax Series 2015B, GO, 5.00%, 2/15/2025 | 30,000 | 30,684 |
Robstown Independent School District Series 2016, GO, PSF-GTD, 4.00%, 2/15/2026 | 305,000 | 307,511 |
Rockwall Independent School District, Unlimited Tax GO, PSF-GTD, Zero Coupon, 2/15/2025 | 50,000 | 47,998 |
Round Rock Independent School District Series 2016, GO, PSF-GTD, 5.00%, 8/1/2027 | 30,000 | 31,467 |
San Antonio Housing Trust Finance Corp. Series 2010, Rev., FHLMC COLL, LIQ : FHLMC, 3.50%, 10/1/2024 (b) (c) | 2,020,000 | 2,013,422 |
San Antonio Independent School District GO, PSF-GTD, 5.00%, 8/15/2024 | 100,000 | 101,294 |
San Antonio Public Facilities Corp. Series 2022, Rev., 5.00%, 9/15/2024 | 25,000 | 25,344 |
San Antonio Water System, Junior Lien Series 2016A, Rev., 5.00%, 5/15/2024 | 25,000 | 25,203 |
San Elizario Independent School District Series 2015, GO, PSF-GTD, 5.00%, 5/1/2025 (b) | 310,000 | 318,040 |
San Jacinto Community College District, Limited Tax | ||
Series B, GO, 5.00%, 2/15/2024 | 50,000 | 50,182 |
GO, 5.00%, 2/15/2025 | 30,000 | 30,688 |
Southwest Higher Education Authority, Inc., Southern Methodist University Project Series 2016A, Rev., 5.00%, 10/1/2024 | 20,000 | 20,275 |
State of Texas Series 2014, GO, 5.00%, 4/1/2024 (b) | 420,000 | 422,427 |
State of Texas, Transport Commission GO, 5.00%, 4/1/2024 (b) | 110,000 | 110,636 |
State of Texas, Transportation Commission Series 2014, GO, 5.00%, 4/1/2024 (b) | 555,000 | 558,207 |
State of Texas, Transportation Commission Highway improvement General Obligation Series 2014, GO, 5.00%, 4/1/2024 | 75,000 | 75,450 |
State of Texas, Transportation Commission Mobility Fund GO, 5.00%, 10/1/2024 | 20,000 | 20,122 |
State of Texas, Veterans | ||
Series 2013A, GO, VRDO, LIQ : State Street Bank & Trust, 3.10%, 12/13/2023 (c) | 10,025,000 | 10,025,000 |
Series 2015A, GO, VRDO, LIQ : State Street Bank & Trust, 3.10%, 12/13/2023 (c) | 16,570,000 | 16,570,000 |
Tarrant County Cultural Education Facilities Finance Corp. Series 2014, Rev., 5.00%, 12/1/2023 | 465,000 | 465,000 |
Tarrant County Cultural Education Facilities Finance Corp., Cook Children's Medical Center | ||
Rev., 5.00%, 12/1/2023 | 345,000 | 345,000 |
Series 2014, Rev., 5.00%, 12/1/2023 | 90,000 | 90,000 |
Series 2013A, Rev., 5.25%, 12/1/2023 | 170,000 | 170,000 |
Tarrant County Cultural Education Facilities Finance Corp., Texas Health Resources System Series 2016A, Rev., 5.00%, 2/15/2024 | 145,000 | 145,435 |
Tarrant Regional Water District Water Supply System Series 2014, Rev., 5.00%, 3/1/2024 (b) | 175,000 | 175,745 |
Texas A&M University, Financing System Series 2017C, Rev., 5.00%, 5/15/2028 | 80,000 | 85,504 |
Texas Department of Housing & Community Affairs | ||
Series 2020, Rev., 4.00%, 3/1/2024 (c) | 1,800,000 | 1,800,099 |
Series 2023, Rev., 4.75%, 8/1/2024 (c) | 940,000 | 945,800 |
Series 2023, Rev., FHA, 5.00%, 8/1/2025 (c) | 1,444,000 | 1,469,317 |
Texas Department of Housing & Community Affairs, Fishpond at Corpus Christi Apartments Series 2020, Rev., VRDO, 4.00%, 12/1/2023 (c) | 1,150,000 | 1,150,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Texas — continued | ||
Texas Department of Housing & Community Affairs, Socorro Village 34 LLC Series 2022, Rev., 4.00%, 8/1/2024 (c) | 3,175,000 | 3,179,422 |
Texas Home Collaborative Series 2023, Rev., 5.00%, 10/1/2026 (c) | 4,025,000 | 4,150,208 |
Texas Public Finance Authority Rev., 5.00%, 2/1/2025 | 25,000 | 25,507 |
Texas State Technical College Series 2022 A, Rev., AGM, 5.00%, 8/1/2028 | 85,000 | 92,469 |
Texas State University System Series 2017A, Rev., 5.00%, 3/15/2025 | 60,000 | 61,349 |
Texas State University, Financing System Series 2019A, Rev., 5.00%, 3/15/2025 | 190,000 | 194,344 |
Texas Transportation Commission State Highway Fund Series 2014-A, Rev., 5.00%, 4/1/2024 (b) | 715,000 | 719,131 |
Texas Transportation Commission State Highway Fund, First Tier Series 2016B, Rev., 0.56%, 4/1/2026 | 10,135,000 | 9,334,263 |
Texas Water Development Board Series 2020, Rev., 5.00%, 8/1/2025 | 100,000 | 103,315 |
Texas Water Development Board, Water Implementation Fund Series 2018A, Rev., 5.00%, 10/15/2024 | 50,000 | 50,824 |
Tomball Independent School District, Unlimited Tax School Building GO, PSF-GTD, 5.00%, 2/15/2025 | 35,000 | 35,819 |
Trinity River Authority, Denton Creek Wastewater Treatment System Rev., 5.00%, 2/1/2024 | 40,000 | 40,107 |
Trinity River Authority, Water Project | ||
Rev., 5.00%, 2/1/2024 | 25,000 | 25,067 |
Rev., 5.00%, 2/1/2025 | 75,000 | 76,573 |
Trinity River Public Facility Corp. Series 2021, Rev., 4.40%, 4/1/2024 (c) | 4,600,000 | 4,601,193 |
Tyler Independent School District Series 2017, GO, PSF-GTD, 5.00%, 2/15/2024 | 20,000 | 20,059 |
University of Houston | ||
Series 2017A, Rev., 5.00%, 2/15/2025 | 45,000 | 46,026 |
Series 2016A, Rev., 4.00%, 2/15/2027 | 75,000 | 75,804 |
University of North Texas System, Financing System Series 2017A, Rev., 5.00%, 4/15/2025 | 25,000 | 25,623 |
University of North Texas, Financing System Series 2020A, Rev., 5.00%, 4/15/2025 | 500,000 | 512,453 |
Weatherford Independent School District, Unlimited Tax GO, PSF-GTD, Zero Coupon, 2/15/2025 | 50,000 | 48,072 |
Total Texas | 164,751,492 | |
Utah — 0.2% | ||
City of American Fork Series 2016, GO, 5.00%, 5/1/2024 | 75,000 | 75,530 |
City of Sandy City, Sales Tax Rev., 5.00%, 3/1/2024 | 25,000 | 25,111 |
City of St. George, Franchise Tax Rev., 5.00%, 12/1/2023 | 40,000 | 40,000 |
City of Woods Cross City Series 2017, Rev., 4.00%, 12/15/2023 | 20,000 | 20,005 |
County of Utah, IHC Health Services, Inc. Series 2020B-1, Rev., 5.00%, 8/1/2024 (c) | 3,775,000 | 3,813,391 |
State of Utah GO, 5.00%, 7/1/2024 | 75,000 | 75,835 |
University of Utah (The) Series 2017A, Rev., 5.00%, 8/1/2024 | 45,000 | 45,546 |
Utah Associated Municipal Power Systems, Horse Butte Wind Series 2017A, Rev., 5.00%, 9/1/2026 | 725,000 | 760,941 |
Utah State Building Ownership Authority, Master Lease Program Series 2012A, Rev., 3.00%, 5/15/2025 | 35,000 | 34,933 |
Utah Water Finance Agency, Loan Financing Program Series 2019 B, Rev., 5.00%, 3/1/2024 | 45,000 | 45,196 |
Total Utah | 4,936,488 | |
Vermont — 0.0% ^ | ||
Vermont Municipal Bond Bank Series 3, Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
Virginia — 0.2% | ||
City of Alexandria Series 2017 C, GO, 5.00%, 7/1/2025 | 45,000 | 46,488 |
City of Chesapeake Series A, Rev., AGM - CR, 4.00%, 7/15/2024 | 25,000 | 25,016 |
City of Hampton Series 2015B, GO, 5.00%, 9/1/2024 (b) | 30,000 | 30,372 |
City of Lynchburg Series 2016, GO, 5.00%, 2/1/2024 | 55,000 | 55,158 |
City of Newport News, Virginia General Obligation Series 2019 A, GO, 5.00%, 2/1/2024 | 35,000 | 35,096 |
City of Norfolk Rev., 5.00%, 11/1/2024 | 100,000 | 101,673 |
City of Poquoson Series 2016, GO, 5.00%, 2/15/2024 | 65,000 | 65,236 |
City of Suffolk Series 2016 A, GO, 5.00%, 2/1/2024 | 35,000 | 35,102 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Virginia — continued | ||
City of Virginia Beach,Public Improvement Series 2013B, GO, 5.00%, 1/15/2024 | 85,000 | 85,116 |
Commonwealth of Virginia Series 2013B, GO, 4.00%, 6/1/2025 | 20,000 | 20,015 |
County of Loudoun | ||
Series 2014 A, GO, 5.00%, 12/1/2023 | 40,000 | 40,000 |
Series 2016A, GO, 5.00%, 12/1/2023 | 75,000 | 75,000 |
Series 2020 B, GO, 5.00%, 12/1/2023 | 125,000 | 125,000 |
County of Pulaski GO, 5.00%, 2/1/2024 | 70,000 | 70,197 |
County of Spotsylvania Water and Sewer System Series 2020, Rev., 5.00%, 12/1/2023 | 50,000 | 50,000 |
Culpeper County Economic Development Authority, Capital Projects Rev., 5.00%, 6/1/2024 | 355,000 | 358,226 |
Fairfax County Industrial Development Authority, Virginia Health Care Nova Health System Series 2018 A, Rev., 5.00%, 5/15/2024 | 305,000 | 307,333 |
Loudoun County Economic Development Authority Series 2022A, Rev., 5.00%, 12/1/2024 | 30,000 | 30,560 |
Louisa Industrial Development Authority, Electric and Power Co. Project Series 2008B, Rev., 0.75%, 9/2/2025 (c) | 100,000 | 93,138 |
Montgomery County Economic Development Authority Series 2022, Rev., 5.00%, 2/1/2024 | 250,000 | 250,667 |
Upper Occoquan Sewage Authority Series 2014, Rev., 5.00%, 7/1/2025 (b) | 45,000 | 46,390 |
Virginia College Building Authority | ||
Series 2019 B, Rev., 5.00%, 2/1/2024 | 75,000 | 75,231 |
Series A, Rev., 5.00%, 2/1/2024 | 40,000 | 40,123 |
Virginia College Building Authority Educational Facilities, 21St Century College and Equipment Programs Series 2015A, Rev., 5.00%, 2/1/2025 (b) | 100,000 | 102,212 |
Virginia College Building Authority Educational Facilities, 21St Century College Andd Equipment Programs Series 2020 A, Rev., 5.00%, 2/1/2024 | 250,000 | 250,771 |
Virginia Commonwealth Transportation Board, Capital Projects | ||
Rev., 5.00%, 5/15/2024 | 35,000 | 35,300 |
Series 2017A, Rev., 5.00%, 5/15/2025 | 40,000 | 41,167 |
Virginia Commonwealth Transportation Board, Federal Highway Transportation Rev., GAN, 5.00%, 3/15/2028 | 20,000 | 21,078 |
Virginia Commonwealth Transportation Board, Federal Transportation Rev., GAN, 5.00%, 3/15/2025 | 30,000 | 30,766 |
Virginia Commonwealth University Health System Authority Series B, Rev., 5.00%, 7/1/2025 | 45,000 | 46,222 |
Virginia Housing Development Authority Series 2020B, Rev., 0.99%, 3/1/2024 | 28,406 | 28,177 |
Virginia Public Building Authority, Public Facilities Series C, Rev., 4.00%, 8/1/2026 | 25,000 | 25,161 |
Virginia Public School Authority, School Financing 1997 Resolution Series 2015A, Rev., 5.00%, 8/1/2024 | 25,000 | 25,315 |
Virginia Resources Authority, Infrastructure Moral Obligation Series 2012B, Rev., 4.00%, 11/1/2024 | 15,000 | 15,010 |
Wise County Industrial Development Authority, Electric and Power Co. Project Series 2010A, Rev., 1.20%, 5/31/2024 (c) | 2,110,000 | 2,075,483 |
Total Virginia | 4,757,799 | |
Washington — 1.7% | ||
Auburn School District No. 408 of King and Pierce Counties, Unlimited Tax GO, 5.00%, 12/1/2024 | 25,000 | 25,460 |
Benton County School District No. 17 Kennewick, Unlimited Tax GO, 5.00%, 12/1/2023 | 60,000 | 60,000 |
Central Washington University Rev., 4.00%, 5/1/2026 | 270,000 | 270,038 |
City of Auburn, Utility System Rev., 5.00%, 12/1/2023 | 35,000 | 35,000 |
City of Edmonds, Water and Sewer Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
City of Everett, Water and Sewer Rev., 5.00%, 12/1/2023 | 25,000 | 25,000 |
City of Lynnwood, Utility System Rev., 4.00%, 12/1/2023 | 30,000 | 30,000 |
City of Olympia, Limited Tax GO, 5.00%, 12/1/2024 | 25,000 | 25,462 |
City of Redmond Series 2013, GO, 5.00%, 12/1/2023 (b) | 20,000 | 20,000 |
City of Redmond, Utility System Series 2014, Rev., 5.00%, 12/1/2024 (b) | 1,600,000 | 1,628,468 |
City of Seattle Series 2014, Rev., 5.00%, 5/1/2027 | 210,000 | 211,434 |
City of Spokane, Water and Wastewater System Rev., 5.00%, 12/1/2023 | 20,000 | 20,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Washington — continued | ||
City of University Place, Limited Tax GO, 4.00%, 12/1/2023 | 35,000 | 35,000 |
City of Walla Walla, Unlimited Tax GO, 3.00%, 12/1/2023 | 25,000 | 25,000 |
Clark County Public Utility District No. 1 Electric Rev., 5.00%, 1/1/2024 | 15,000 | 15,018 |
Clark County School District No. 114 Evergreen Series 2019, GO, 5.00%, 12/1/2025 | 20,000 | 20,797 |
Clark County School District No. 37 Vancouver, Unlimited Tax GO, 5.00%, 12/1/2023 | 30,000 | 30,000 |
Clark County, Vancouver School District No. 37 GO, 3.00%, 12/1/2023 | 25,000 | 25,000 |
County of Benton, Limited Tax GO, 3.00%, 12/1/2023 | 30,000 | 30,000 |
County of King Series 2015A, GO, 5.00%, 1/1/2025 (b) | 100,000 | 101,990 |
County of King , Washington Sewer Series 2013B, Rev., 5.00%, 1/1/2024 (b) | 70,000 | 70,098 |
County of King, Junior Lien, Sewer Series 2020A, Rev., 0.63%, 1/1/2024 (c) | 1,545,000 | 1,541,845 |
County of King, Sewer, Junior Lien Series 2020B, Rev., 0.88%, 1/1/2026 (c) | 60,000 | 54,926 |
County of Pierce Series A, GO, 5.00%, 8/1/2024 | 20,000 | 20,243 |
County of Skagit, Limited Tax GO, 5.00%, 12/1/2024 | 60,000 | 61,062 |
County of Snohomish Series 2019, GO, 5.00%, 12/1/2023 | 125,000 | 125,000 |
Energy Northwest Series 2015-A, Rev., 5.00%, 7/1/2027 | 30,000 | 30,900 |
Energy Northwest, Columbia Generating Station Series A, Rev., 5.00%, 7/1/2024 | 85,000 | 85,903 |
Energy Northwest, Project 1 | ||
Series 2014-C, Rev., 5.00%, 7/1/2025 | 50,000 | 50,540 |
Series 2014C, Rev., 5.00%, 7/1/2026 | 90,000 | 90,859 |
Series 2014-C, Rev., 5.00%, 7/1/2027 | 135,000 | 136,280 |
Energy Northwest, Project 3 Electric Series 2018C, Rev., 5.00%, 7/1/2025 | 25,000 | 25,768 |
FYI Properties Series 2019, Rev., 5.00%, 6/1/2024 | 55,000 | 55,460 |
King and Snohomish Counties School District No. 417 Northshore, Unlimited Tax GO, 5.00%, 12/1/2024 | 25,000 | 25,472 |
King County Fire Protection District No. 2, Unlimited Tax Series 2016, GO, 4.00%, 12/1/2023 | 100,000 | 100,000 |
King County Fire Protection District No. 39, Unlimited Tax Series 2015A, GO, 5.00%, 12/1/2024 | 40,000 | 40,747 |
King County Public Hospital District No. 1, Valley Medical Center Series 2016, GO, 5.00%, 12/1/2023 | 800,000 | 800,000 |
King County Public Hospital District No. 2, Evergreen Healthcare, Limited Tax Series 2015B, GO, 5.00%, 12/1/2024 (b) | 45,000 | 45,801 |
King County School District No. 401 Highline Series 2022B, GO, 5.00%, 12/1/2023 | 75,000 | 75,000 |
King County School District No. 403 Renton, Unlimited Tax GO, 4.00%, 12/1/2024 | 65,000 | 65,597 |
King County School District No. 405 Bellevue, Unlimited Tax | ||
GO, 5.00%, 12/1/2023 | 45,000 | 45,000 |
GO, 5.00%, 12/1/2024 | 160,000 | 162,941 |
King County School District No. 409 Tahoma Series 2013, GO, 5.00%, 1/21/2024 | 25,000 | 25,053 |
King County School District No. 411 Issaquah Series 2022, GO, 5.00%, 12/1/2025 | 110,000 | 114,275 |
King County School District No. 415 Kent | ||
Series 2021, GO, 4.00%, 12/1/2023 | 300,000 | 300,000 |
Series 2017, GO, 5.00%, 12/1/2023 | 75,000 | 75,000 |
King County School District No. 415 Kent, Unlimited Tax GO, 5.00%, 12/1/2023 | 30,000 | 30,000 |
Port of Seattle | ||
Series 2021 A, Rev., 5.00%, 12/1/2023 | 110,000 | 110,000 |
Series 2016, Rev., 5.00%, 2/1/2026 | 80,000 | 83,151 |
Rev., 5.00%, 2/1/2028 | 40,000 | 41,529 |
Series 2022A, Rev., 5.00%, 8/1/2028 | 70,000 | 76,598 |
Port of Seattle Intermediate Lien Series 2022A, Rev., 5.00%, 8/1/2026 | 35,000 | 36,809 |
Public Utility District No. 1 of Lewis County, Cowlitz Falls Hydroelec Project Series 2013, Rev., 5.25%, 10/1/2028 | 2,290,000 | 2,291,218 |
RBC Municipal Products, Inc. Trust, Floater Certificates Series G-123, Rev., VRDO, LOC : Royal Bank of Canada, (SIFMA Municipal Swap Index Yield + 0.20%), 3.18%, 12/14/2023 (c) (e) | 5,860,000 | 5,860,000 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Washington — continued | ||
Skagit County Public Hospital District No. 1 Series 2013A, Rev., 5.00%, 12/1/2023 (b) | 300,000 | 300,000 |
Snohomish County School District No. 6 Mukilteo | ||
Series 2016, GO, 5.00%, 12/1/2023 | 65,000 | 65,000 |
Series 2022, GO, 5.00%, 12/1/2024 | 55,000 | 56,054 |
Spokane County School District No. 356 Central Valley, Unlimited Tax GO, 5.00%, 12/1/2023 | 45,000 | 45,000 |
State of Washington | ||
Series 2021A, COP, 5.00%, 1/1/2024 | 130,000 | 130,170 |
Series 2016C, GO, 5.00%, 2/1/2024 | 75,000 | 75,219 |
Series 2023 B, GO, 5.00%, 2/1/2024 | 200,000 | 200,585 |
Series 2019B, COP, 5.00%, 7/1/2024 | 20,000 | 20,209 |
Series R-2022C, GO, 4.00%, 7/1/2027 | 15,000,000 | 15,626,670 |
State of Washington Motor Vehicle Fuel Tax Series 2014E, GO, 5.00%, 2/16/2024 | 445,000 | 446,513 |
State of Washington, State and Local Agency Personal Property Series 2014B, COP, 5.00%, 7/1/2024 | 50,000 | 50,523 |
State of Washington, State and Local Agency Real and Personal Property Series 2018C, COP, 5.00%, 7/1/2024 | 35,000 | 35,366 |
State of Washington, Various Purpose | ||
Series R-2015E, GO, 5.00%, 7/1/2024 | 25,000 | 25,274 |
Series 2018A, GO, 5.00%, 8/1/2024 | 40,000 | 40,504 |
Series R-2018C, GO, 5.00%, 8/1/2024 | 35,000 | 35,441 |
Series 2021C, COP, 5.00%, 1/1/2025 | 1,000,000 | 1,020,011 |
University of Washington Series 2020C, Rev., 5.00%, 4/1/2026 | 25,000 | 26,109 |
Washington Health Care Facilities Authority Series 2012A, Rev., 5.00%, 10/1/2025 | 25,000 | 25,012 |
Washington Health Care Facilities Authority, Multicare Health System Series B, Rev., 5.00%, 8/15/2026 | 390,000 | 398,820 |
Washington Health Care Facilities Authority, Providence Health and Services | ||
Series 2012A, Rev., 5.00%, 10/1/2024 | 1,055,000 | 1,055,444 |
Series 2012A, Rev., 5.00%, 10/1/2026 | 1,030,000 | 1,030,341 |
Washington Health Care Facilities Authority, Seattle Cancer Care Alliance Rev., 5.00%, 3/1/2026 | 500,000 | 508,608 |
Washington State Housing Finance Commission Series A, Rev., 7.00%, 7/1/2025 (b) (e) | 1,100,000 | 1,152,640 |
Washington State Housing Finance Commission, Herons Key Senior Living Series A, Rev., 7.00%, 7/1/2025 (b) (e) | 6,530,000 | 6,842,493 |
Washington State University Series 2014, Rev., 5.00%, 4/1/2024 (b) | 30,000 | 30,173 |
Whitman County School District No. 267 Pullman, Unlimited Tax Series 2016, GO, 5.00%, 12/1/2024 | 35,000 | 35,661 |
Total Washington | 44,689,582 | |
West Virginia — 0.0% ^ | ||
West Virginia Economic Development Authority, Appalachian Power Co. Series 2015A, Rev., 2.55%, 4/1/2024 (c) | 135,000 | 134,128 |
West Virginia Economic Development Authority, Correctional Juvenile and Public Safety Facilities | ||
Series 2012A, Rev., 5.00%, 6/1/2024 | 125,000 | 125,146 |
Series 2012A, Rev., 5.00%, 6/1/2025 | 805,000 | 806,013 |
West Virginia Economic Development Authority, Solid Waste Disposal Facilities, Appalachian Power Co. Amos Project Series 2010A, Rev., 0.63%, 12/15/2025 (c) | 100,000 | 91,221 |
Total West Virginia | 1,156,508 | |
Wisconsin — 0.9% | ||
City of De Pere Series 2013A, GO, 3.38%, 12/1/2026 | 460,000 | 459,597 |
City of Madison, Water Utility Rev., BAN, 1.50%, 11/1/2024 | 820,000 | 799,304 |
City of Oshkosh, Street Improvement Series 2019A, GO, 2.00%, 12/1/2023 | 200,000 | 200,000 |
County of Milwaukee, Corporate Purpose Series 2018D, GO, 3.00%, 8/1/2024 | 100,000 | 99,551 |
County of Waushara Series 2023A, Rev., 4.75%, 12/1/2023 (b) | 10,200,000 | 10,200,000 |
Howard-Suamico School District Series 2021, GO, 5.00%, 3/1/2024 | 30,000 | 30,116 |
Onalaska School District GO, 5.00%, 4/1/2024 | 105,000 | 105,624 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Municipal Bonds — continued | ||
Wisconsin — continued | ||
Public Finance Authority Series 2014A, Rev., 5.75%, 11/15/2024 (b) (e) | 2,550,000 | 2,597,577 |
Public Finance Authority Lease Development, Ku Campus Development Corp. Project Series 2016, Rev., 5.00%, 3/1/2024 | 255,000 | 256,017 |
Public Finance Authority, Coral Academy of Science Series 2021A, Rev., 4.00%, 7/1/2025 | 315,000 | 311,413 |
State of Wisconsin | ||
Series 2016-2, GO, 5.00%, 11/1/2024 | 20,000 | 20,351 |
Series 2014-4, GO, 5.00%, 5/1/2025 | 90,000 | 91,638 |
State of Wisconsin Clean Water Fund Leveraged Loan Portfolio | ||
Series 2015-1, Rev., 5.00%, 6/1/2024 (b) | 560,000 | 564,433 |
Series 20161, Rev., 5.00%, 6/1/2024 (b) | 75,000 | 75,630 |
Village of Fox Crossing, Corporate Purpose GO, 3.00%, 4/1/2024 | 185,000 | 184,600 |
Village of Menomonee Falls, Corporate Purpose Series 2019B, GO, 3.50%, 2/1/2024 | 245,000 | 245,003 |
Wauwatosa School District Series 2019B, GO, 5.00%, 9/1/2024 | 30,000 | 30,405 |
Wisconsin Health & Educational Facilities Authority | ||
Series 2016A, Rev., 5.00%, 11/15/2024 | 385,000 | 391,304 |
Series 2016A, Rev., 5.00%, 11/15/2026 | 2,000,000 | 2,085,411 |
Series 2016A, Rev., 5.00%, 11/15/2028 | 95,000 | 98,583 |
Wisconsin Health & Educational Facilities Authority, Milwaukee Regional Medical Center Thermal Services, Inc. Series 2018, Rev., 5.00%, 4/1/2024 | 25,000 | 25,131 |
Wisconsin Health & Educational Facilities Authority, Milwaukee Regional Medical Center Thermal Services, nc. Series 2018, Rev., 5.00%, 4/1/2028 | 65,000 | 70,097 |
Wisconsin Health and Educational Facilities Authority, Advocate Aurora Health Credit Series 2018B-4, Rev., 5.00%, 1/29/2025 (c) | 640,000 | 649,787 |
Wisconsin Health and Educational Facilities Authority Series 2018B-2, Rev., 5.00%, 6/24/2026 (c) | 450,000 | 467,928 |
Wisconsin Health and Educational Facilities Authority, Advocate Aurora Health Credit Group Series 2018C1, Rev., 5.00%, 7/29/2026 (c) | 1,005,000 | 1,046,890 |
Wisconsin Health and Educational Facilities Authority, Ascension Health Credit Series 2013B-5, Rev., 5.00%, 12/3/2024 (c) | 1,085,000 | 1,099,303 |
Wisconsin Health and Educational Facilities Authority, Ascension Senior Credit Group Series 2019A, Rev., 5.00%, 11/15/2024 | 250,000 | 254,094 |
Wisconsin Health and Educational Facilities Authority, Mercy Alliance, Inc. Rev., 5.00%, 6/1/2026 | 160,000 | 160,120 |
Wisconsin Health and Educational Facilities Authority, Oakwood Lutheran Senior Ministries | ||
Rev., 4.00%, 1/1/2024 | 160,000 | 159,694 |
Rev., 4.00%, 1/1/2025 | 210,000 | 204,624 |
Wisconsin Health and Educational Facilities Authority, The Monroe Clinic, Inc. | ||
Rev., 3.00%, 8/15/2025 (b) | 25,000 | 24,777 |
Rev., 4.00%, 8/15/2025 (b) | 30,000 | 30,236 |
Wisconsin Health and Educational Facilities Authority, Unity Point Health | ||
Series 2014A, Rev., 5.00%, 12/1/2023 | 55,000 | 55,000 |
Series 2014A, Rev., 5.00%, 12/1/2024 | 240,000 | 242,919 |
Series 2014A, Rev., 5.00%, 12/1/2025 | 800,000 | 809,281 |
Total Wisconsin | 24,146,438 | |
Total Municipal Bonds (Cost $2,354,638,766) | 2,350,738,609 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Short-Term Investments — 7.4% | ||
Investment Companies — 7.4% | ||
JPMorgan Institutional Tax Free Money Market Fund Class IM Shares, 3.14% (g) (h) (Cost $189,250,316) | 189,250,930 | 189,269,855 |
Total Investments — 99.5% (Cost $2,543,889,082) | 2,540,008,464 | |
Other Assets Less Liabilities — 0.5% | 12,975,145 | |
NET ASSETS — 100.0% | 2,552,983,609 |
Percentages indicated are based on net assets. |
Abbreviations | |
AGC | Insured by Assured Guaranty Corp. |
AGM | Insured by Assured Guaranty Municipal Corp. |
AMBAC | Insured by American Municipal Bond Assurance Corp. |
AMT | Alternative Minimum Tax |
BAN | Bond Anticipation Note |
COLL | Collateral |
COP | Certificate of Participation |
CR | Custodial Receipts |
FHA | Federal Housing Administration |
FHLMC | Federal Home Loan Mortgage Corp. |
GAN | Grant Anticipation Notes |
GO | General Obligation |
GTD | Guaranteed |
LIQ | Liquidity Agreement |
LOC | Letter of Credit |
NATL | Insured by National Public Finance Guarantee Corp. |
PSF-GTD | Permanent School Fund Guaranteed |
Q-SBLF | Qualified School Bond Loan Fund |
RAN | Revenue Anticipation Note |
RE | Reinsured |
Rev. | Revenue |
SCSDE | South Carolina School District Enhancement |
SIFMA | The Securities Industry and Financial Markets Association |
SOFR | Secured Overnight Financing Rate |
VRDO | Variable Rate Demand Obligation |
^ | Amount rounds to less than 0.1% of net assets. | |
(a) | The date shown represents the earliest of the prerefunded date, next put date or final maturity date. | |
(b) | Security is prerefunded or escrowed to maturity. | |
(c) | 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. | |
(d) | Variable or floating rate security, linked to the referenced benchmark. 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) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(g) | 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. | |
(h) | The rate shown is the current yield as of November 30, 2023. |
JPMorgan Ultra-Short Municipal Income 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.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s net asset value 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 (“SOI”):
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Municipal Bonds | $— | $2,350,738,609 | $— | $2,350,738,609 |
Short-Term Investments | ||||
Investment Companies | 189,269,855 | — | — | 189,269,855 |
Total Investments in Securities | $189,269,855 | $2,350,738,609 | $— | $2,540,008,464 |
JPMorgan Ultra-Short Municipal Income ETFSCHEDULE OF PORTFOLIO INVESTMENTSAS OF November 30, 2023 (Unaudited) (continued)
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 Institutional Tax Free Money Market Fund Class IM Shares, 3.14% (a) (b) | $143,883,279 | $1,887,153,418 | $1,841,764,161 | $(11,509 ) | $8,828 | $189,269,855 | 189,250,930 | $3,928,102 | $— |
(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. |