JPMorgan Carbon Transition U.S. Equity ETF
Schedule of Portfolio Investments as of January 31, 2024
(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., 2024. |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 0.0% ^ | ||
Hexcel Corp. | 20 | 1,328 |
Air Freight & Logistics — 0.2% | ||
CH Robinson Worldwide, Inc. | 29 | 2,439 |
Expeditors International of Washington, Inc. | 29 | 3,663 |
United Parcel Service, Inc., Class B | 20 | 2,838 |
8,940 | ||
Automobile Components — 0.1% | ||
Aptiv plc * | 63 | 5,124 |
Gentex Corp. | 31 | 1,027 |
6,151 | ||
Automobiles — 1.4% | ||
Tesla, Inc. * | 363 | 67,986 |
Banks — 1.5% | ||
Bank of America Corp. | 1,178 | 40,064 |
Citigroup, Inc. | 416 | 23,367 |
Wells Fargo & Co. | 197 | 9,885 |
73,316 | ||
Beverages — 1.4% | ||
Brown-Forman Corp., Class B | 53 | 2,910 |
Constellation Brands, Inc., Class A | 35 | 8,578 |
Keurig Dr Pepper, Inc. | 209 | 6,571 |
Monster Beverage Corp. * | 163 | 8,968 |
PepsiCo, Inc. | 236 | 39,773 |
66,800 | ||
Biotechnology — 2.9% | ||
AbbVie, Inc. | 266 | 43,730 |
Alnylam Pharmaceuticals, Inc. * | 26 | 4,496 |
Amgen, Inc. | 51 | 16,027 |
Gilead Sciences, Inc. | 273 | 21,365 |
Incyte Corp. * | 45 | 2,645 |
Ionis Pharmaceuticals, Inc. * | 33 | 1,696 |
Moderna, Inc. * | 77 | 7,781 |
Natera, Inc. * | 23 | 1,517 |
Regeneron Pharmaceuticals, Inc. * | 23 | 21,684 |
Vertex Pharmaceuticals, Inc. * | 56 | 24,269 |
145,210 | ||
Broadline Retail — 3.1% | ||
Amazon.com, Inc. * | 935 | 145,112 |
eBay, Inc. | 120 | 4,929 |
Etsy, Inc. * | 27 | 1,797 |
151,838 | ||
Building Products — 0.5% | ||
Carrier Global Corp. | 97 | 5,307 |
Hayward Holdings, Inc. * | 28 | 351 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Building Products — continued | ||
Lennox International, Inc. | 6 | 2,569 |
Masco Corp. | 53 | 3,566 |
Trane Technologies plc | 50 | 12,602 |
24,395 | ||
Capital Markets — 4.7% | ||
Ares Management Corp. | 33 | 4,009 |
Bank of New York Mellon Corp. (The) | 160 | 8,874 |
BlackRock, Inc. | 30 | 23,229 |
Blackstone, Inc. | 26 | 3,236 |
Carlyle Group, Inc. (The) | 35 | 1,401 |
Cboe Global Markets, Inc. | 23 | 4,228 |
Charles Schwab Corp. (The) | 326 | 20,512 |
CME Group, Inc. | 80 | 16,467 |
FactSet Research Systems, Inc. | 8 | 3,807 |
Goldman Sachs Group, Inc. (The) | 70 | 26,881 |
Intercontinental Exchange, Inc. | 25 | 3,183 |
Invesco Ltd. | 77 | 1,219 |
Jefferies Financial Group, Inc. | 42 | 1,712 |
KKR & Co., Inc. | 146 | 12,641 |
Lazard, Inc. | 11 | 429 |
LPL Financial Holdings, Inc. | 18 | 4,305 |
MarketAxess Holdings, Inc. | 9 | 2,030 |
Moody's Corp. | 34 | 13,329 |
Morgan Stanley | 265 | 23,119 |
Morningstar, Inc. | 7 | 1,955 |
MSCI, Inc. | 16 | 9,578 |
Nasdaq, Inc. | 75 | 4,333 |
Raymond James Financial, Inc. | 41 | 4,517 |
Robinhood Markets, Inc., Class A * | 146 | 1,568 |
S&P Global, Inc. | 68 | 30,488 |
Tradeweb Markets, Inc., Class A | 29 | 2,766 |
XP, Inc., Class A (Brazil) | 78 | 1,917 |
231,733 | ||
Chemicals — 1.3% | ||
Albemarle Corp. | 23 | 2,639 |
Ashland, Inc. | 7 | 655 |
Celanese Corp. | 22 | 3,218 |
Ecolab, Inc. | 57 | 11,299 |
Element Solutions, Inc. | 53 | 1,178 |
FMC Corp. | 29 | 1,630 |
Huntsman Corp. | 42 | 1,031 |
International Flavors & Fragrances, Inc. | 54 | 4,357 |
Linde plc | 88 | 35,625 |
Mosaic Co. (The) | 29 | 891 |
Scotts Miracle-Gro Co. (The) | 9 | 506 |
63,029 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Commercial Services & Supplies — 1.1% | ||
Cintas Corp. | 19 | 11,487 |
Clean Harbors, Inc. * | 11 | 1,847 |
Copart, Inc. * | 189 | 9,079 |
MSA Safety, Inc. | 6 | 990 |
RB Global, Inc. (Canada) | 45 | 2,879 |
Republic Services, Inc. | 47 | 8,043 |
Stericycle, Inc. * | 23 | 1,104 |
Tetra Tech, Inc. | 11 | 1,740 |
Waste Management, Inc. | 90 | 16,707 |
53,876 | ||
Communications Equipment — 1.4% | ||
Arista Networks, Inc. * | 56 | 14,486 |
Ciena Corp. * | 38 | 2,014 |
Cisco Systems, Inc. | 735 | 36,882 |
F5, Inc. * | 13 | 2,388 |
Motorola Solutions, Inc. | 37 | 11,822 |
Viasat, Inc. * | 23 | 511 |
68,103 | ||
Construction & Engineering — 0.1% | ||
AECOM | 26 | 2,293 |
MasTec, Inc. * | 11 | 722 |
3,015 | ||
Consumer Finance — 1.0% | ||
Ally Financial, Inc. | 59 | 2,164 |
American Express Co. | 128 | 25,695 |
Capital One Financial Corp. | 82 | 11,096 |
Discover Financial Services | 55 | 5,804 |
SLM Corp. | 46 | 915 |
Synchrony Financial | 97 | 3,770 |
49,444 | ||
Consumer Staples Distribution & Retail — 0.8% | ||
Costco Wholesale Corp. | 34 | 23,626 |
Walmart, Inc. | 98 | 16,194 |
39,820 | ||
Containers & Packaging — 0.1% | ||
Avery Dennison Corp. | 17 | 3,391 |
Diversified REITs — 0.1% | ||
WP Carey, Inc. | 44 | 2,726 |
Diversified Telecommunication Services — 0.3% | ||
AT&T, Inc. | 253 | 4,476 |
Iridium Communications, Inc. | 29 | 1,051 |
Verizon Communications, Inc. | 223 | 9,444 |
14,971 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Electric Utilities — 1.0% | ||
Avangrid, Inc. | 23 | 699 |
Edison International | 80 | 5,398 |
Eversource Energy | 73 | 3,958 |
Exelon Corp. | 225 | 7,832 |
NextEra Energy, Inc. | 446 | 26,149 |
PG&E Corp. | 442 | 7,457 |
51,493 | ||
Electrical Equipment — 1.0% | ||
AMETEK, Inc. | 53 | 8,589 |
Eaton Corp. plc | 63 | 15,503 |
Emerson Electric Co. | 129 | 11,833 |
Generac Holdings, Inc. * | 10 | 1,137 |
Hubbell, Inc. | 12 | 4,027 |
Plug Power, Inc. * | 149 | 663 |
Rockwell Automation, Inc. | 26 | 6,585 |
Sunrun, Inc. * | 51 | 738 |
49,075 | ||
Electronic Equipment, Instruments & Components — 0.5% | ||
CDW Corp. | 29 | 6,575 |
Cognex Corp. | 36 | 1,301 |
Keysight Technologies, Inc. * | 39 | 5,977 |
Teledyne Technologies, Inc. * | 11 | 4,603 |
Trimble, Inc. * | 55 | 2,797 |
Vontier Corp. | 39 | 1,349 |
Zebra Technologies Corp., Class A * | 12 | 2,875 |
25,477 | ||
Energy Equipment & Services — 0.5% | ||
Halliburton Co. | 245 | 8,734 |
Schlumberger NV | 314 | 15,292 |
24,026 | ||
Entertainment — 2.0% | ||
Electronic Arts, Inc. | 60 | 8,255 |
Liberty Media Corp-Liberty Formula One, Class C * | 45 | 3,026 |
Netflix, Inc. * | 78 | 44,001 |
Spotify Technology SA * | 33 | 7,107 |
Take-Two Interactive Software, Inc. * | 37 | 6,102 |
Walt Disney Co. (The) | 326 | 31,312 |
99,803 | ||
Financial Services — 4.9% | ||
Affirm Holdings, Inc. * | 49 | 1,985 |
Apollo Global Management, Inc. | 98 | 9,839 |
Berkshire Hathaway, Inc., Class B * | 119 | 45,665 |
Block, Inc. * | 118 | 7,671 |
Fidelity National Information Services, Inc. | 136 | 8,467 |
Fiserv, Inc. * | 130 | 18,443 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Financial Services — continued | ||
Global Payments, Inc. | 56 | 7,461 |
Jack Henry & Associates, Inc. | 18 | 2,985 |
Mastercard, Inc., Class A | 125 | 56,154 |
PayPal Holdings, Inc. * | 239 | 14,663 |
Toast, Inc., Class A * | 80 | 1,421 |
Visa, Inc., Class A | 230 | 62,850 |
Voya Financial, Inc. | 26 | 1,882 |
Western Union Co. (The) | 91 | 1,144 |
WEX, Inc. * | 10 | 2,044 |
242,674 | ||
Food Products — 1.0% | ||
Freshpet, Inc. * | 14 | 1,205 |
General Mills, Inc. | 133 | 8,633 |
Hershey Co. (The) | 31 | 6,000 |
Kraft Heinz Co. (The) | 157 | 5,829 |
McCormick & Co., Inc. (Non-Voting) | 59 | 4,022 |
Mondelez International, Inc., Class A | 304 | 22,882 |
48,571 | ||
Gas Utilities — 0.1% | ||
Atmos Energy Corp. | 35 | 3,988 |
National Fuel Gas Co. | 6 | 283 |
UGI Corp. | 50 | 1,107 |
5,378 | ||
Ground Transportation — 0.7% | ||
Landstar System, Inc. | 8 | 1,534 |
Lyft, Inc., Class A * | 71 | 887 |
Uber Technologies, Inc. * | 428 | 27,935 |
Union Pacific Corp. | 26 | 6,342 |
36,698 | ||
Health Care Equipment & Supplies — 2.2% | ||
Abbott Laboratories | 106 | 11,994 |
Boston Scientific Corp. * | 316 | 19,990 |
Dexcom, Inc. * | 82 | 9,951 |
Edwards Lifesciences Corp. * | 134 | 10,515 |
Hologic, Inc. * | 53 | 3,945 |
IDEXX Laboratories, Inc. * | 18 | 9,271 |
Insulet Corp. * | 16 | 3,054 |
Intuitive Surgical, Inc. * | 78 | 29,501 |
Medtronic plc | 33 | 2,889 |
ResMed, Inc. | 34 | 6,467 |
Stryker Corp. | 8 | 2,684 |
110,261 | ||
Health Care Providers & Services — 3.3% | ||
Cencora, Inc. | 37 | 8,609 |
Cigna Group (The) | 65 | 19,562 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Providers & Services — continued | ||
CVS Health Corp. | 282 | 20,972 |
Elevance Health, Inc. | 50 | 24,672 |
Humana, Inc. | 27 | 10,208 |
McKesson Corp. | 29 | 14,497 |
Premier, Inc., Class A | 29 | 627 |
UnitedHealth Group, Inc. | 125 | 63,967 |
163,114 | ||
Health Care REITs — 0.0% ^ | ||
Medical Properties Trust, Inc. | 140 | 434 |
Omega Healthcare Investors, Inc. | 56 | 1,624 |
2,058 | ||
Health Care Technology — 0.1% | ||
Certara, Inc. * | 25 | 404 |
Veeva Systems, Inc., Class A * | 32 | 6,637 |
7,041 | ||
Hotels, Restaurants & Leisure — 2.2% | ||
Airbnb, Inc., Class A * | 89 | 12,828 |
Booking Holdings, Inc. * | 8 | 28,060 |
Chipotle Mexican Grill, Inc. * | 6 | 14,453 |
Expedia Group, Inc. * | 29 | 4,301 |
McDonald's Corp. | 129 | 37,761 |
Starbucks Corp. | 32 | 2,977 |
Wendy's Co. (The) | 42 | 801 |
Yum! Brands, Inc. | 63 | 8,158 |
109,339 | ||
Household Durables — 0.3% | ||
DR Horton, Inc. | 68 | 9,718 |
PulteGroup, Inc. | 43 | 4,496 |
14,214 | ||
Household Products — 1.6% | ||
Church & Dwight Co., Inc. | 53 | 5,292 |
Clorox Co. (The) | 28 | 4,067 |
Colgate-Palmolive Co. | 183 | 15,409 |
Procter & Gamble Co. (The) | 352 | 55,313 |
80,081 | ||
Independent Power and Renewable Electricity Producers — 0.0% ^ | ||
Brookfield Renewable Corp. | 28 | 782 |
Industrial REITs — 0.6% | ||
Prologis, Inc. | 204 | 25,845 |
Rexford Industrial Realty, Inc. | 50 | 2,629 |
STAG Industrial, Inc. | 40 | 1,478 |
29,952 | ||
Insurance — 2.6% | ||
Aflac, Inc. | 132 | 11,133 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Insurance — continued | ||
Allstate Corp. (The) | 60 | 9,315 |
American International Group, Inc. | 161 | 11,191 |
Aon plc, Class A | 45 | 13,429 |
Arch Capital Group Ltd. * | 79 | 6,512 |
Assured Guaranty Ltd. | 17 | 1,379 |
Chubb Ltd. | 88 | 21,560 |
Everest Group Ltd. | 9 | 3,465 |
Globe Life, Inc. | 19 | 2,334 |
Marsh & McLennan Cos., Inc. | 8 | 1,551 |
MetLife, Inc. | 135 | 9,358 |
Primerica, Inc. | 8 | 1,873 |
Principal Financial Group, Inc. | 50 | 3,955 |
Progressive Corp. (The) | 9 | 1,604 |
Prudential Financial, Inc. | 80 | 8,395 |
Reinsurance Group of America, Inc. | 15 | 2,608 |
RenaissanceRe Holdings Ltd. (Bermuda) | 13 | 2,975 |
Travelers Cos., Inc. (The) | 48 | 10,145 |
Unum Group | 35 | 1,692 |
WR Berkley Corp. | 46 | 3,767 |
128,241 | ||
Interactive Media & Services — 5.1% | ||
Alphabet, Inc., Class A * | 1,149 | 160,975 |
Match Group, Inc. * | 65 | 2,495 |
Meta Platforms, Inc., Class A * | 215 | 83,880 |
Pinterest, Inc., Class A * | 127 | 4,758 |
ZoomInfo Technologies, Inc. * | 69 | 1,107 |
253,215 | ||
IT Services — 1.6% | ||
Accenture plc, Class A | 110 | 40,027 |
Cloudflare, Inc., Class A * | 59 | 4,664 |
EPAM Systems, Inc. * | 12 | 3,337 |
Gartner, Inc. * | 17 | 7,776 |
Globant SA * | 7 | 1,651 |
International Business Machines Corp. | 43 | 7,897 |
MongoDB, Inc. * | 15 | 6,008 |
Okta, Inc. * | 32 | 2,645 |
Twilio, Inc., Class A * | 41 | 2,884 |
76,889 | ||
Leisure Products — 0.1% | ||
Hasbro, Inc. | 33 | 1,615 |
Peloton Interactive, Inc., Class A * | 71 | 395 |
YETI Holdings, Inc. * | 25 | 1,099 |
3,109 | ||
Life Sciences Tools & Services — 1.5% | ||
Agilent Technologies, Inc. | 67 | 8,717 |
Bio-Techne Corp. | 34 | 2,391 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Life Sciences Tools & Services — continued | ||
Danaher Corp. | 79 | 18,953 |
ICON plc * | 18 | 4,696 |
Illumina, Inc. * | 37 | 5,291 |
IQVIA Holdings, Inc. * | 41 | 8,537 |
Maravai LifeSciences Holdings, Inc., Class A * | 24 | 139 |
Mettler-Toledo International, Inc. * | 5 | 5,986 |
Thermo Fisher Scientific, Inc. | 24 | 12,936 |
Waters Corp. * | 13 | 4,130 |
71,776 | ||
Machinery — 3.0% | ||
Caterpillar, Inc. | 110 | 33,034 |
CNH Industrial NV | 214 | 2,568 |
Deere & Co. | 59 | 23,221 |
Dover Corp. | 28 | 4,194 |
Fortive Corp. | 76 | 5,942 |
Graco, Inc. | 39 | 3,327 |
IDEX Corp. | 17 | 3,595 |
Illinois Tool Works, Inc. | 68 | 17,741 |
Ingersoll Rand, Inc. | 94 | 7,507 |
Nordson Corp. | 14 | 3,524 |
Otis Worldwide Corp. | 92 | 8,136 |
PACCAR, Inc. * | 115 | 11,545 |
Parker-Hannifin Corp. | 28 | 13,006 |
Snap-on, Inc. | 11 | 3,189 |
Xylem, Inc. | 49 | 5,510 |
146,039 | ||
Media — 0.9% | ||
Comcast Corp., Class A | 656 | 30,530 |
Fox Corp., Class A | 83 | 2,681 |
Interpublic Group of Cos., Inc. (The) | 87 | 2,870 |
Liberty Media Corp-Liberty SiriusXM * | 55 | 1,670 |
Omnicom Group, Inc. | 47 | 4,248 |
Sirius XM Holdings, Inc. | 146 | 743 |
42,742 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 317 | 12,582 |
Newmont Corp. | 120 | 4,141 |
Royal Gold, Inc. | 13 | 1,487 |
SSR Mining, Inc. (Canada) | 76 | 717 |
18,927 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.1% | ||
AGNC Investment Corp. | 136 | 1,289 |
Annaly Capital Management, Inc. | 107 | 2,054 |
3,343 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Multi-Utilities — 0.6% | ||
CenterPoint Energy, Inc. | 143 | 3,996 |
Consolidated Edison, Inc. | 79 | 7,181 |
Public Service Enterprise Group, Inc. | 114 | 6,611 |
Sempra | 140 | 10,018 |
27,806 | ||
Oil, Gas & Consumable Fuels — 3.1% | ||
Antero Resources Corp. * | 79 | 1,765 |
Chevron Corp. | 125 | 18,429 |
ConocoPhillips | 254 | 28,415 |
Diamondback Energy, Inc. | 39 | 5,996 |
EOG Resources, Inc. | 102 | 11,607 |
Exxon Mobil Corp. | 583 | 59,938 |
Hess Corp. | 59 | 8,291 |
New Fortress Energy, Inc. | 14 | 465 |
ONEOK, Inc. | 74 | 5,050 |
Targa Resources Corp. | 44 | 3,738 |
Williams Cos., Inc. (The) | 271 | 9,393 |
153,087 | ||
Personal Care Products — 0.2% | ||
Coty, Inc., Class A * | 85 | 1,027 |
Estee Lauder Cos., Inc. (The), Class A | 53 | 6,995 |
8,022 | ||
Pharmaceuticals — 3.0% | ||
Bristol-Myers Squibb Co. | 41 | 2,004 |
Eli Lilly & Co. | 117 | 75,536 |
Johnson & Johnson | 252 | 40,043 |
Merck & Co., Inc. | 190 | 22,948 |
Pfizer, Inc. | 305 | 8,259 |
148,790 | ||
Professional Services — 1.4% | ||
Automatic Data Processing, Inc. | 93 | 22,857 |
Booz Allen Hamilton Holding Corp. | 28 | 3,942 |
Ceridian HCM Holding, Inc. * | 32 | 2,225 |
Clarivate plc * | 107 | 957 |
Dun & Bradstreet Holdings, Inc. | 69 | 800 |
Equifax, Inc. | 26 | 6,353 |
FTI Consulting, Inc. * | 8 | 1,533 |
Genpact Ltd. | 42 | 1,508 |
ManpowerGroup, Inc. | 11 | 815 |
Paychex, Inc. | 73 | 8,886 |
Paycom Software, Inc. | 11 | 2,093 |
Paylocity Holding Corp. * | 9 | 1,426 |
Robert Half, Inc. | 26 | 2,068 |
Science Applications International Corp. | 9 | 1,149 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Professional Services — continued | ||
TransUnion | 44 | 3,044 |
Verisk Analytics, Inc. | 33 | 7,970 |
67,626 | ||
Real Estate Management & Development — 0.3% | ||
CBRE Group, Inc., Class A * | 57 | 4,920 |
CoStar Group, Inc. * | 89 | 7,430 |
Zillow Group, Inc., Class C * | 48 | 2,728 |
15,078 | ||
Residential REITs — 0.3% | ||
American Homes 4 Rent, Class A | 70 | 2,454 |
AvalonBay Communities, Inc. | 33 | 5,907 |
Equity LifeStyle Properties, Inc. | 39 | 2,640 |
Essex Property Trust, Inc. | 15 | 3,499 |
UDR, Inc. | 71 | 2,557 |
17,057 | ||
Retail REITs — 0.6% | ||
Brixmor Property Group, Inc. | 67 | 1,503 |
Federal Realty Investment Trust | 21 | 2,136 |
Kimco Realty Corp. | 133 | 2,687 |
NNN REIT, Inc. | 40 | 1,614 |
Realty Income Corp. | 186 | 10,116 |
Regency Centers Corp. | 43 | 2,695 |
Simon Property Group, Inc. | 70 | 9,703 |
30,454 | ||
Semiconductors & Semiconductor Equipment — 7.6% | ||
Advanced Micro Devices, Inc. * | 293 | 49,133 |
Analog Devices, Inc. | 5 | 962 |
Applied Materials, Inc. | 180 | 29,574 |
Broadcom, Inc. | 39 | 46,020 |
Enphase Energy, Inc. * | 39 | 4,061 |
First Solar, Inc. * | 23 | 3,365 |
Intel Corp. | 245 | 10,555 |
KLA Corp. | 28 | 16,633 |
Lam Research Corp. | 2 | 1,650 |
Lattice Semiconductor Corp. * | 30 | 1,826 |
Marvell Technology, Inc. | 189 | 12,795 |
MKS Instruments, Inc. | 14 | 1,490 |
NVIDIA Corp. | 293 | 180,274 |
QUALCOMM, Inc. | 52 | 7,723 |
Texas Instruments, Inc. | 41 | 6,565 |
Universal Display Corp. | 8 | 1,358 |
373,984 | ||
Software — 12.7% | ||
Adobe, Inc. * | 74 | 45,716 |
ANSYS, Inc. * | 20 | 6,557 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — continued | ||
Atlassian Corp., Class A * | 34 | 8,492 |
Autodesk, Inc. * | 48 | 12,183 |
Bentley Systems, Inc., Class B | 44 | 2,218 |
Cadence Design Systems, Inc. * | 61 | 17,596 |
Confluent, Inc., Class A * | 38 | 850 |
Datadog, Inc., Class A * | 60 | 7,466 |
Dolby Laboratories, Inc., Class A | 8 | 665 |
Dynatrace, Inc. * | 19 | 1,083 |
Fortinet, Inc. * | 149 | 9,609 |
Gen Digital, Inc. | 119 | 2,794 |
Guidewire Software, Inc. * | 14 | 1,563 |
HubSpot, Inc. * | 10 | 6,110 |
Intuit, Inc. | 54 | 34,092 |
Microsoft Corp. | 798 | 317,269 |
Oracle Corp. | 89 | 9,941 |
Palantir Technologies, Inc., Class A * | 413 | 6,645 |
Palo Alto Networks, Inc. * | 68 | 23,019 |
PTC, Inc. * | 25 | 4,516 |
Roper Technologies, Inc. | 24 | 12,888 |
Salesforce, Inc. * | 68 | 19,114 |
ServiceNow, Inc. * | 42 | 32,147 |
Splunk, Inc. * | 36 | 5,521 |
Synopsys, Inc. * | 34 | 18,134 |
Tyler Technologies, Inc. * | 9 | 3,805 |
Unity Software, Inc. * | 65 | 2,106 |
Workday, Inc., Class A * | 40 | 11,643 |
623,742 | ||
Specialized REITs — 0.7% | ||
American Tower Corp. | 8 | 1,565 |
Crown Castle, Inc. | 98 | 10,609 |
CubeSmart | 52 | 2,247 |
Extra Space Storage, Inc. | 34 | 4,911 |
Public Storage | 34 | 9,628 |
Rayonier, Inc. | 31 | 939 |
SBA Communications Corp. | 25 | 5,597 |
35,496 | ||
Specialty Retail — 1.8% | ||
Bath & Body Works, Inc. | 50 | 2,133 |
CarMax, Inc. * | 31 | 2,206 |
Floor & Decor Holdings, Inc., Class A * | 26 | 2,614 |
Home Depot, Inc. (The) | 154 | 54,356 |
Lithia Motors, Inc., Class A | 5 | 1,474 |
Lowe's Cos., Inc. | 19 | 4,044 |
Penske Automotive Group, Inc. | 5 | 742 |
Ross Stores, Inc. | 24 | 3,367 |
TJX Cos., Inc. (The) | 22 | 2,088 |
Tractor Supply Co. | 23 | 5,166 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Specialty Retail — continued | ||
Ulta Beauty, Inc. * | 11 | 5,522 |
Valvoline, Inc. * | 34 | 1,241 |
Wayfair, Inc., Class A * | 19 | 955 |
Williams-Sonoma, Inc. | 15 | 2,901 |
88,809 | ||
Technology Hardware, Storage & Peripherals — 6.4% | ||
Apple, Inc. | 1,701 | 313,665 |
Pure Storage, Inc., Class A * | 62 | 2,479 |
316,144 | ||
Textiles, Apparel & Luxury Goods — 1.0% | ||
Capri Holdings Ltd. * | 29 | 1,413 |
Columbia Sportswear Co. | 10 | 793 |
Crocs, Inc. * | 13 | 1,319 |
Deckers Outdoor Corp. * | 5 | 3,769 |
Lululemon Athletica, Inc. * | 25 | 11,346 |
NIKE, Inc., Class B | 251 | 25,484 |
Ralph Lauren Corp. | 11 | 1,580 |
Tapestry, Inc. | 54 | 2,095 |
VF Corp. | 83 | 1,366 |
49,165 | ||
Trading Companies & Distributors — 0.6% | ||
Air Lease Corp. | 26 | 1,087 |
Ferguson plc | 45 | 8,454 |
United Rentals, Inc. | 15 | 9,381 |
WESCO International, Inc. | 10 | 1,735 |
WW Grainger, Inc. | 10 | 8,956 |
29,613 | ||
Water Utilities — 0.2% | ||
American Water Works Co., Inc. | 46 | 5,705 |
Essential Utilities, Inc. | 52 | 1,865 |
7,570 | ||
Total Common Stocks (Cost $4,464,207) | 4,912,833 | |
Short-Term Investments — 0.2% | ||
Investment Companies — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (a) (b) (Cost $9,002) | 9,002 | 9,002 |
Total Investments — 100.0% (Cost $4,473,209) | 4,921,835 | |
Other Assets Less Liabilities — 0.0% ^ | 2,314 | |
NET ASSETS — 100.0% | 4,924,149 |
Percentages indicated are based on net assets. |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(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 January 31, 2024. |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)A. Valuation of Investments — Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.
Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset value ("NAV") of the Fund is calculated on a valuation date.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Futures contracts are generally valued on the basis of available market quotations.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.
•
Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.
•
Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.
•
Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”):
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $4,921,835 | $— | $— | $4,921,835 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
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.
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)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 January 31, 2024 | |||||||||
Security Description | Value at October 31, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at January 31, 2024 | Shares at January 31, 2024 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (a) (b) | $10,503 | $84,478 | $85,979 | $— | $— | $9,002 | 9,002 | $232 | $— |
(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 January 31, 2024. |