JPMorgan Market Expansion Enhanced Equity ETF
Schedule of Portfolio Investments as of March 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 Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.3% | ||
Aerospace & Defense — 0.2% | ||
AeroVironment, Inc. * | 6,302 | 965,971 |
Curtiss-Wright Corp. | 1,734 | 443,800 |
Woodward, Inc. | 4,900 | 755,188 |
2,164,959 | ||
Air Freight & Logistics — 0.3% | ||
Forward Air Corp. | 9,068 | 282,106 |
GXO Logistics, Inc. * | 25,707 | 1,382,008 |
Hub Group, Inc., Class A | 29,472 | 1,273,780 |
2,937,894 | ||
Automobile Components — 1.1% | ||
Adient plc * | 26,271 | 864,841 |
American Axle & Manufacturing Holdings, Inc. * | 40,348 | 296,961 |
Autoliv, Inc. (Sweden) | 40,690 | 4,900,297 |
Dana, Inc. | 36,105 | 458,534 |
Fox Factory Holding Corp. * | 6,152 | 320,335 |
Gentex Corp. | 63,166 | 2,281,556 |
Gentherm, Inc. * | 9,346 | 538,143 |
Goodyear Tire & Rubber Co. (The) * | 79,110 | 1,086,180 |
Patrick Industries, Inc. | 7,756 | 926,609 |
Phinia, Inc. | 13,312 | 511,580 |
12,185,036 | ||
Automobiles — 0.4% | ||
Harley-Davidson, Inc. | 34,893 | 1,526,220 |
Thor Industries, Inc. | 16,328 | 1,915,927 |
Winnebago Industries, Inc. | 11,196 | 828,504 |
4,270,651 | ||
Banks — 6.5% | ||
Ameris Bancorp | 56,589 | 2,737,776 |
Associated Banc-Corp. | 38,917 | 837,105 |
Axos Financial, Inc. * | 14,279 | 771,637 |
Banc of California, Inc. | 109,882 | 1,671,305 |
Bancorp, Inc. (The) * | 13,917 | 465,663 |
BankUnited, Inc. | 51,823 | 1,451,044 |
Banner Corp. | 30,352 | 1,456,896 |
Brookline Bancorp, Inc. | 67,733 | 674,621 |
Cadence Bank (a) | 20,503 | 594,587 |
Capitol Federal Financial, Inc. | 31,148 | 185,642 |
Central Pacific Financial Corp. | 88,252 | 1,742,977 |
Commerce Bancshares, Inc. | 33,905 | 1,803,746 |
Cullen/Frost Bankers, Inc. | 32,016 | 3,604,041 |
Customers Bancorp, Inc. * | 45,639 | 2,421,605 |
CVB Financial Corp. | 34,390 | 613,518 |
Dime Community Bancshares, Inc. | 13,647 | 262,841 |
East West Bancorp, Inc. | 66,992 | 5,299,737 |
First BanCorp (Puerto Rico) | 136,142 | 2,387,931 |
First Commonwealth Financial Corp. | 57,461 | 799,857 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Banks — continued | ||
First Horizon Corp. | 221,013 | 3,403,600 |
FNB Corp. | 134,379 | 1,894,744 |
Glacier Bancorp, Inc. | 30,930 | 1,245,860 |
Hancock Whitney Corp. | 34,321 | 1,580,139 |
Hanmi Financial Corp. | 23,489 | 373,945 |
Heritage Financial Corp. | 9,503 | 184,263 |
Hope Bancorp, Inc. | 119,096 | 1,370,795 |
Independent Bank Group, Inc. | 8,696 | 396,972 |
National Bank Holdings Corp., Class A | 51,717 | 1,865,432 |
NBT Bancorp, Inc. | 9,706 | 356,016 |
OFG Bancorp (Puerto Rico) | 61,540 | 2,265,287 |
Old National Bancorp | 112,920 | 1,965,937 |
Pathward Financial, Inc. | 34,456 | 1,739,339 |
Pinnacle Financial Partners, Inc. | 48,570 | 4,171,192 |
Preferred Bank | 3,899 | 299,326 |
Prosperity Bancshares, Inc. | 50,257 | 3,305,906 |
Renasant Corp. | 15,537 | 486,619 |
Seacoast Banking Corp. of Florida | 21,819 | 553,985 |
Southside Bancshares, Inc. | 24,232 | 708,301 |
Synovus Financial Corp. | 52,938 | 2,120,696 |
Texas Capital Bancshares, Inc. * | 5,115 | 314,828 |
Triumph Financial, Inc. * | 6,419 | 509,155 |
Trustmark Corp. | 17,766 | 499,402 |
UMB Financial Corp. | 5,565 | 484,099 |
United Community Banks, Inc. | 16,367 | 430,780 |
Veritex Holdings, Inc. | 12,846 | 263,215 |
WaFd, Inc. | 33,227 | 964,580 |
Webster Financial Corp. | 55,777 | 2,831,798 |
Wintrust Financial Corp. | 25,964 | 2,710,382 |
WSFS Financial Corp. | 16,799 | 758,307 |
69,837,429 | ||
Beverages — 0.5% | ||
Boston Beer Co., Inc. (The), Class A * | 2,601 | 791,796 |
Celsius Holdings, Inc. * | 44,919 | 3,724,684 |
Coca-Cola Consolidated, Inc. | 1,519 | 1,285,697 |
5,802,177 | ||
Biotechnology — 1.9% | ||
Arrowhead Pharmaceuticals, Inc. * | 45,102 | 1,289,917 |
Exelixis, Inc. * | 248,786 | 5,903,692 |
Neurocrine Biosciences, Inc. * | 29,706 | 4,097,051 |
United Therapeutics Corp. * | 28,501 | 6,547,250 |
Vir Biotechnology, Inc. * | 289,735 | 2,935,016 |
20,772,926 | ||
Broadline Retail — 0.4% | ||
Kohl's Corp. | 69,651 | 2,030,327 |
Macy's, Inc. | 70,521 | 1,409,715 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Broadline Retail — continued | ||
Nordstrom, Inc. (a) | 12,290 | 249,118 |
Ollie's Bargain Outlet Holdings, Inc. * | 10,037 | 798,644 |
4,487,804 | ||
Building Products — 3.6% | ||
AAON, Inc. | 13,123 | 1,156,136 |
Advanced Drainage Systems, Inc. | 18,885 | 3,252,752 |
Apogee Enterprises, Inc. | 5,999 | 355,141 |
AZZ, Inc. | 7,045 | 544,649 |
Carlisle Cos., Inc. | 20,004 | 7,838,567 |
Fortune Brands Innovations, Inc. | 33,770 | 2,859,306 |
Gibraltar Industries, Inc. * | 26,245 | 2,113,510 |
Griffon Corp. | 14,408 | 1,056,683 |
Lennox International, Inc. | 7,995 | 3,907,636 |
Masterbrand, Inc. * | 35,483 | 664,952 |
Owens Corning | 29,389 | 4,902,085 |
Quanex Building Products Corp. | 8,368 | 321,582 |
Resideo Technologies, Inc. * | 44,796 | 1,004,326 |
Simpson Manufacturing Co., Inc. | 15,072 | 3,092,473 |
Trex Co., Inc. * | 4,642 | 463,040 |
UFP Industries, Inc. | 39,280 | 4,831,833 |
38,364,671 | ||
Capital Markets — 2.4% | ||
Affiliated Managers Group, Inc. | 22,478 | 3,764,391 |
Artisan Partners Asset Management, Inc., Class A | 18,840 | 862,307 |
Brightsphere Investment Group, Inc. | 30,925 | 706,327 |
Carlyle Group, Inc. (The) | 34,883 | 1,636,361 |
Donnelley Financial Solutions, Inc. * | 13,867 | 859,893 |
Evercore, Inc., Class A | 6,124 | 1,179,421 |
Federated Hermes, Inc. | 7,628 | 275,523 |
Interactive Brokers Group, Inc., Class A | 23,659 | 2,642,947 |
Janus Henderson Group plc | 53,521 | 1,760,306 |
Jefferies Financial Group, Inc. | 49,497 | 2,182,818 |
Morningstar, Inc. (a) | 7,082 | 2,183,876 |
Piper Sandler Cos. | 6,985 | 1,386,452 |
SEI Investments Co. | 34,408 | 2,473,935 |
Stifel Financial Corp. | 28,604 | 2,235,975 |
StoneX Group, Inc. * | 6,842 | 480,719 |
Virtus Investment Partners, Inc. | 3,847 | 953,979 |
25,585,230 | ||
Chemicals — 1.7% | ||
AdvanSix, Inc. | 7,104 | 203,174 |
Arcadium Lithium plc (Jersey) * (a) | 49,582 | 213,698 |
Ashland, Inc. | 14,198 | 1,382,459 |
Avient Corp. | 44,982 | 1,952,219 |
Axalta Coating Systems Ltd. * | 24,678 | 848,677 |
Balchem Corp. | 6,471 | 1,002,682 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Chemicals — continued | ||
Cabot Corp. | 29,853 | 2,752,447 |
Chemours Co. (The) | 61,039 | 1,602,884 |
Hawkins, Inc. | 5,443 | 418,022 |
HB Fuller Co. | 29,428 | 2,346,589 |
Ingevity Corp. * | 9,223 | 439,937 |
Minerals Technologies, Inc. | 8,392 | 631,750 |
RPM International, Inc. | 26,974 | 3,208,557 |
Scotts Miracle-Gro Co. (The) (a) | 11,992 | 894,483 |
Sensient Technologies Corp. | 10,936 | 756,662 |
18,654,240 | ||
Commercial Services & Supplies — 1.5% | ||
ABM Industries, Inc. | 18,298 | 816,457 |
Brady Corp., Class A | 51,653 | 3,061,990 |
Brink's Co. (The) | 15,015 | 1,387,086 |
Clean Harbors, Inc. * | 25,350 | 5,103,208 |
Deluxe Corp. (a) | 8,264 | 170,156 |
Enviri Corp. * | 18,900 | 172,935 |
Interface, Inc. | 18,415 | 309,740 |
MillerKnoll, Inc. | 24,121 | 597,236 |
OPENLANE, Inc. * | 36,555 | 632,402 |
Stericycle, Inc. * | 6,940 | 366,085 |
Tetra Tech, Inc. | 15,465 | 2,856,540 |
Viad Corp. * | 14,447 | 570,512 |
16,044,347 | ||
Communications Equipment — 0.8% | ||
ADTRAN Holdings, Inc. | 15,926 | 86,637 |
Calix, Inc. * | 15,941 | 528,604 |
Ciena Corp. * | 96,139 | 4,754,074 |
Digi International, Inc. * | 9,676 | 308,955 |
Extreme Networks, Inc. * | 34,139 | 393,964 |
Lumentum Holdings, Inc. * | 15,926 | 754,096 |
Viasat, Inc. * (a) | 48,588 | 878,957 |
Viavi Solutions, Inc. * | 64,026 | 581,996 |
8,287,283 | ||
Construction & Engineering — 2.1% | ||
AECOM | 37,597 | 3,687,514 |
Arcosa, Inc. | 15,386 | 1,321,042 |
Comfort Systems USA, Inc. | 16,663 | 5,294,002 |
EMCOR Group, Inc. | 20,002 | 7,004,700 |
MasTec, Inc. * | 16,471 | 1,535,921 |
MDU Resources Group, Inc. | 60,482 | 1,524,146 |
MYR Group, Inc. * | 6,569 | 1,161,071 |
Valmont Industries, Inc. | 3,898 | 889,835 |
22,418,231 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Construction Materials — 0.3% | ||
Eagle Materials, Inc. | 7,820 | 2,125,085 |
Knife River Corp. * | 6,804 | 551,668 |
2,676,753 | ||
Consumer Finance — 0.8% | ||
Ally Financial, Inc. | 73,732 | 2,992,782 |
Encore Capital Group, Inc. * | 9,346 | 426,271 |
Enova International, Inc. * | 19,493 | 1,224,745 |
EZCORP, Inc., Class A * | 25,471 | 288,586 |
FirstCash Holdings, Inc. | 10,413 | 1,328,074 |
SLM Corp. | 104,701 | 2,281,435 |
8,541,893 | ||
Consumer Staples Distribution & Retail — 2.0% | ||
Andersons, Inc. (The) | 27,575 | 1,581,978 |
BJ's Wholesale Club Holdings, Inc. * | 37,906 | 2,867,589 |
Casey's General Stores, Inc. | 15,739 | 5,012,084 |
Chefs' Warehouse, Inc. (The) * | 24,436 | 920,260 |
Performance Food Group Co. * | 65,592 | 4,895,787 |
SpartanNash Co. | 7,205 | 145,613 |
Sprouts Farmers Market, Inc. * | 37,023 | 2,387,243 |
United Natural Foods, Inc. * | 17,674 | 203,074 |
US Foods Holding Corp. * | 63,015 | 3,400,920 |
21,414,548 | ||
Containers & Packaging — 1.2% | ||
AptarGroup, Inc. | 15,086 | 2,170,725 |
Berry Global Group, Inc. | 61,680 | 3,730,406 |
Crown Holdings, Inc. | 13,042 | 1,033,709 |
Greif, Inc., Class A | 13,909 | 960,416 |
Myers Industries, Inc. | 11,109 | 257,396 |
O-I Glass, Inc. * | 41,194 | 683,408 |
Silgan Holdings, Inc. | 22,414 | 1,088,424 |
Sonoco Products Co. | 57,577 | 3,330,254 |
13,254,738 | ||
Diversified Consumer Services — 0.9% | ||
Adtalem Global Education, Inc. * | 14,780 | 759,692 |
Frontdoor, Inc. * | 23,278 | 758,397 |
Graham Holdings Co., Class B | 372 | 285,577 |
Grand Canyon Education, Inc. * | 8,510 | 1,159,147 |
H&R Block, Inc. | 44,137 | 2,167,568 |
Service Corp. International | 40,496 | 3,005,208 |
Strategic Education, Inc. | 6,156 | 640,963 |
Stride, Inc. * (a) | 11,488 | 724,319 |
9,500,871 | ||
Diversified REITs — 0.6% | ||
American Assets Trust, Inc. | 37,482 | 821,231 |
Armada Hoffler Properties, Inc. | 51,964 | 540,425 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Diversified REITs — continued | ||
Essential Properties Realty Trust, Inc. | 124,761 | 3,326,128 |
WP Carey, Inc. | 21,447 | 1,210,469 |
5,898,253 | ||
Diversified Telecommunication Services — 0.4% | ||
Cogent Communications Holdings, Inc. | 11,751 | 767,693 |
Frontier Communications Parent, Inc. * (a) | 58,489 | 1,432,980 |
Iridium Communications, Inc. | 70,586 | 1,846,530 |
4,047,203 | ||
Electric Utilities — 0.6% | ||
IDACORP, Inc. | 35,771 | 3,322,768 |
OGE Energy Corp. | 105,657 | 3,624,035 |
6,946,803 | ||
Electrical Equipment — 1.9% | ||
Acuity Brands, Inc. | 9,659 | 2,595,663 |
Encore Wire Corp. | 14,183 | 3,727,009 |
EnerSys | 11,218 | 1,059,652 |
nVent Electric plc | 80,530 | 6,071,962 |
Regal Rexnord Corp. | 19,792 | 3,564,539 |
Sunrun, Inc. * | 277,904 | 3,662,775 |
20,681,600 | ||
Electronic Equipment, Instruments & Components — 2.3% | ||
Advanced Energy Industries, Inc. (a) | 12,094 | 1,233,346 |
Arrow Electronics, Inc. * | 27,357 | 3,541,637 |
Belden, Inc. | 12,624 | 1,169,109 |
Benchmark Electronics, Inc. | 10,856 | 325,789 |
Cognex Corp. | 39,852 | 1,690,522 |
Coherent Corp. * | 77,100 | 4,673,802 |
Fabrinet (Thailand) * | 29,263 | 5,531,292 |
Littelfuse, Inc. | 6,050 | 1,466,217 |
Rogers Corp. * | 4,338 | 514,877 |
TD SYNNEX Corp. | 25,190 | 2,848,989 |
Vontier Corp. | 44,369 | 2,012,578 |
25,008,158 | ||
Energy Equipment & Services — 1.2% | ||
Bristow Group, Inc. * | 8,302 | 225,814 |
ChampionX Corp. | 85,503 | 3,068,703 |
Helmerich & Payne, Inc. | 19,822 | 833,713 |
Liberty Energy, Inc. | 69,049 | 1,430,695 |
NOV, Inc. | 114,227 | 2,229,711 |
Oceaneering International, Inc. * | 63,288 | 1,480,939 |
Patterson-UTI Energy, Inc. | 143,002 | 1,707,444 |
ProPetro Holding Corp. * | 21,634 | 174,803 |
Valaris Ltd. * | 18,203 | 1,369,958 |
Weatherford International plc * | 6,880 | 794,090 |
13,315,870 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Entertainment — 0.1% | ||
TKO Group Holdings, Inc. (a) | 10,342 | 893,652 |
Financial Services — 2.6% | ||
Equitable Holdings, Inc. | 113,552 | 4,316,112 |
Essent Group Ltd. | 55,938 | 3,328,870 |
Euronet Worldwide, Inc. * | 2,564 | 281,861 |
EVERTEC, Inc. (Puerto Rico) | 29,485 | 1,176,451 |
Jackson Financial, Inc., Class A | 19,733 | 1,305,141 |
MGIC Investment Corp. | 150,473 | 3,364,576 |
Mr. Cooper Group, Inc. * | 32,282 | 2,516,382 |
NCR Atleos Corp. * | 29,755 | 587,661 |
NMI Holdings, Inc., Class A * | 60,164 | 1,945,704 |
Radian Group, Inc. | 42,938 | 1,437,135 |
Voya Financial, Inc. | 28,487 | 2,105,759 |
Walker & Dunlop, Inc. | 8,415 | 850,420 |
WEX, Inc. * | 19,221 | 4,565,564 |
27,781,636 | ||
Food Products — 1.1% | ||
Cal-Maine Foods, Inc. | 10,736 | 631,814 |
Darling Ingredients, Inc. * | 48,010 | 2,232,945 |
Flowers Foods, Inc. | 54,666 | 1,298,317 |
Fresh Del Monte Produce, Inc. | 8,898 | 230,547 |
Hain Celestial Group, Inc. (The) * | 22,388 | 175,970 |
Ingredion, Inc. | 31,547 | 3,686,267 |
John B Sanfilippo & Son, Inc. | 2,926 | 309,922 |
Pilgrim's Pride Corp. * | 10,898 | 374,019 |
Post Holdings, Inc. * | 15,447 | 1,641,707 |
Simply Good Foods Co. (The) * | 24,093 | 819,885 |
WK Kellogg Co. | 12,011 | 225,807 |
11,627,200 | ||
Gas Utilities — 0.6% | ||
Chesapeake Utilities Corp. | 19,653 | 2,108,767 |
ONE Gas, Inc. (a) | 28,261 | 1,823,682 |
Southwest Gas Holdings, Inc. | 4,514 | 343,651 |
Spire, Inc. | 7,756 | 475,986 |
UGI Corp. (a) | 83,247 | 2,042,881 |
6,794,967 | ||
Ground Transportation — 2.0% | ||
ArcBest Corp. | 14,924 | 2,126,670 |
Avis Budget Group, Inc. | 5,698 | 697,777 |
Hertz Global Holdings, Inc. * (a) | 40,693 | 318,626 |
Knight-Swift Transportation Holdings, Inc. | 76,929 | 4,232,634 |
Landstar System, Inc. | 21,132 | 4,073,404 |
Ryder System, Inc. | 14,181 | 1,704,415 |
Saia, Inc. * | 7,362 | 4,306,770 |
XPO, Inc. * | 31,475 | 3,840,894 |
21,301,190 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Equipment & Supplies — 2.0% | ||
Avanos Medical, Inc. * | 12,982 | 258,472 |
CONMED Corp. | 7,129 | 570,890 |
Envista Holdings Corp. * | 102,783 | 2,197,501 |
Glaukos Corp. * | 22,651 | 2,135,763 |
Globus Medical, Inc., Class A * | 59,707 | 3,202,684 |
Haemonetics Corp. * | 32,722 | 2,792,823 |
Integer Holdings Corp. * | 9,273 | 1,081,974 |
Integra LifeSciences Holdings Corp. * | 20,421 | 723,924 |
Lantheus Holdings, Inc. * | 52,062 | 3,240,339 |
Masimo Corp. * (a) | 27,417 | 4,026,186 |
Merit Medical Systems, Inc. * | 14,483 | 1,097,087 |
Omnicell, Inc. * | 11,992 | 350,526 |
Orthofix Medical, Inc. * | 171 | 2,483 |
Varex Imaging Corp. * | 11,564 | 209,308 |
21,889,960 | ||
Health Care Providers & Services — 2.8% | ||
Acadia Healthcare Co., Inc. * | 25,371 | 2,009,891 |
Addus HomeCare Corp. * | 4,345 | 449,012 |
Amedisys, Inc. * | 23,876 | 2,200,412 |
AMN Healthcare Services, Inc. * | 6,031 | 376,998 |
Chemed Corp. | 4,732 | 3,037,613 |
Encompass Health Corp. | 62,176 | 5,134,494 |
Enhabit, Inc. * (a) | 13,654 | 159,069 |
Ensign Group, Inc. (The) | 14,588 | 1,815,039 |
Fulgent Genetics, Inc. * (a) | 43,709 | 948,485 |
HealthEquity, Inc. * | 43,000 | 3,510,090 |
Option Care Health, Inc. * | 74,604 | 2,502,218 |
Progyny, Inc. * | 62,899 | 2,399,597 |
R1 RCM, Inc. * | 33,442 | 430,733 |
RadNet, Inc. * | 12,365 | 601,681 |
Tenet Healthcare Corp. * | 45,161 | 4,746,873 |
30,322,205 | ||
Health Care REITs — 0.6% | ||
CareTrust REIT, Inc. | 53,158 | 1,295,461 |
Community Healthcare Trust, Inc. | 60,668 | 1,610,735 |
Omega Healthcare Investors, Inc. (a) | 50,920 | 1,612,636 |
Sabra Health Care REIT, Inc. | 96,205 | 1,420,948 |
5,939,780 | ||
Health Care Technology — 0.1% | ||
HealthStream, Inc. | 8,530 | 227,410 |
Veradigm, Inc. * | 54,283 | 417,979 |
645,389 | ||
Hotel & Resort REITs — 0.5% | ||
Apple Hospitality REIT, Inc. | 22,917 | 375,381 |
Chatham Lodging Trust | 9,130 | 92,304 |
DiamondRock Hospitality Co. | 54,929 | 527,868 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hotel & Resort REITs — continued | ||
Park Hotels & Resorts, Inc. | 152,529 | 2,667,732 |
Sunstone Hotel Investors, Inc. | 54,901 | 611,597 |
Xenia Hotels & Resorts, Inc. | 59,330 | 890,543 |
5,165,425 | ||
Hotels, Restaurants & Leisure — 3.4% | ||
Aramark | 70,284 | 2,285,636 |
BJ's Restaurants, Inc. * | 6,759 | 244,541 |
Bloomin' Brands, Inc. | 21,874 | 627,346 |
Boyd Gaming Corp. | 28,877 | 1,944,000 |
Churchill Downs, Inc. | 14,489 | 1,793,014 |
Dave & Buster's Entertainment, Inc. * | 31,847 | 1,993,622 |
Golden Entertainment, Inc. | 9,867 | 363,402 |
Hilton Grand Vacations, Inc. * | 62,074 | 2,930,513 |
Hyatt Hotels Corp., Class A | 11,807 | 1,884,633 |
Jack in the Box, Inc. | 4,496 | 307,886 |
Light & Wonder, Inc. * | 49,460 | 5,049,371 |
Marriott Vacations Worldwide Corp. | 11,751 | 1,265,935 |
Penn Entertainment, Inc. * | 43,408 | 790,460 |
Planet Fitness, Inc., Class A * | 27,225 | 1,705,102 |
Shake Shack, Inc., Class A * | 10,358 | 1,077,543 |
Six Flags Entertainment Corp. * | 18,823 | 495,421 |
Texas Roadhouse, Inc. | 17,180 | 2,653,795 |
Travel + Leisure Co. | 33,693 | 1,649,609 |
Vail Resorts, Inc. | 7,863 | 1,752,112 |
Wingstop, Inc. | 8,448 | 3,095,347 |
Wyndham Hotels & Resorts, Inc. | 27,265 | 2,092,589 |
36,001,877 | ||
Household Durables — 2.9% | ||
Cavco Industries, Inc. * | 2,318 | 925,021 |
Green Brick Partners, Inc. * | 10,997 | 662,349 |
Helen of Troy Ltd. * | 6,195 | 713,912 |
KB Home | 26,169 | 1,854,859 |
La-Z-Boy, Inc. | 10,515 | 395,574 |
Meritage Homes Corp. | 17,294 | 3,034,405 |
Newell Brands, Inc. | 111,067 | 891,868 |
Sonos, Inc. * | 183,900 | 3,505,134 |
Taylor Morrison Home Corp. * | 37,284 | 2,317,946 |
Tempur Sealy International, Inc. | 43,982 | 2,499,057 |
Toll Brothers, Inc. | 48,244 | 6,241,326 |
TopBuild Corp. * | 10,484 | 4,620,614 |
Tri Pointe Homes, Inc. * | 88,034 | 3,403,395 |
31,065,460 | ||
Household Products — 0.1% | ||
Central Garden & Pet Co., Class A * | 21,669 | 800,019 |
Independent Power and Renewable Electricity Producers — 0.6% | ||
Vistra Corp. | 95,447 | 6,647,884 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Industrial REITs — 1.3% | ||
EastGroup Properties, Inc. | 25,846 | 4,646,335 |
First Industrial Realty Trust, Inc. | 74,941 | 3,937,400 |
Innovative Industrial Properties, Inc. (a) | 11,699 | 1,211,314 |
LXP Industrial Trust | 85,746 | 773,429 |
Rexford Industrial Realty, Inc. | 56,830 | 2,858,549 |
STAG Industrial, Inc. | 21,358 | 821,002 |
14,248,029 | ||
Insurance — 3.2% | ||
American Financial Group, Inc. | 21,978 | 2,999,558 |
Assured Guaranty Ltd. | 17,450 | 1,522,513 |
CNO Financial Group, Inc. | 35,900 | 986,532 |
Erie Indemnity Co., Class A | 2,848 | 1,143,671 |
Fidelity National Financial, Inc. | 70,550 | 3,746,205 |
First American Financial Corp. | 29,578 | 1,805,737 |
Hanover Insurance Group, Inc. (The) | 3,395 | 462,297 |
Horace Mann Educators Corp. | 11,562 | 427,678 |
Mercury General Corp. | 7,636 | 394,018 |
Old Republic International Corp. | 69,497 | 2,134,948 |
Palomar Holdings, Inc. * | 13,139 | 1,101,442 |
Primerica, Inc. | 5,532 | 1,399,375 |
Reinsurance Group of America, Inc. | 32,090 | 6,189,519 |
RenaissanceRe Holdings Ltd. (Bermuda) | 11,601 | 2,726,583 |
RLI Corp. | 18,141 | 2,693,394 |
Unum Group | 82,743 | 4,439,989 |
34,173,459 | ||
Interactive Media & Services — 0.8% | ||
Cargurus, Inc. * | 21,400 | 493,912 |
Cars.com, Inc. * | 18,341 | 315,098 |
QuinStreet, Inc. * | 38,576 | 681,252 |
TripAdvisor, Inc. * | 75,014 | 2,084,639 |
Yelp, Inc. * | 19,412 | 764,833 |
Ziff Davis, Inc. * | 14,081 | 887,666 |
ZoomInfo Technologies, Inc. * | 214,880 | 3,444,527 |
8,671,927 | ||
IT Services — 0.7% | ||
GoDaddy, Inc., Class A * | 59,078 | 7,011,377 |
Perficient, Inc. * | 10,037 | 564,983 |
7,576,360 | ||
Leisure Products — 0.5% | ||
Brunswick Corp. | 25,873 | 2,497,262 |
Mattel, Inc. * | 97,442 | 1,930,326 |
YETI Holdings, Inc. * | 10,107 | 389,625 |
4,817,213 | ||
Life Sciences Tools & Services — 0.8% | ||
Azenta, Inc. * | 22,555 | 1,359,615 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Life Sciences Tools & Services — continued | ||
Bruker Corp. | 28,762 | 2,701,902 |
Medpace Holdings, Inc. * | 7,660 | 3,095,789 |
Repligen Corp. * (a) | 5,341 | 982,317 |
8,139,623 | ||
Machinery — 5.0% | ||
AGCO Corp. | 33,343 | 4,101,856 |
Alamo Group, Inc. | 7,237 | 1,652,424 |
Chart Industries, Inc. * (a) | 10,037 | 1,653,295 |
Crane Co. | 13,012 | 1,758,312 |
Donaldson Co., Inc. | 60,880 | 4,546,518 |
Esab Corp. | 12,427 | 1,374,053 |
Federal Signal Corp. | 16,708 | 1,418,008 |
Flowserve Corp. | 38,053 | 1,738,261 |
Franklin Electric Co., Inc. | 34,737 | 3,710,259 |
Graco, Inc. | 50,049 | 4,677,580 |
Hillenbrand, Inc. | 17,112 | 860,562 |
ITT, Inc. | 22,178 | 3,016,873 |
John Bean Technologies Corp. | 8,639 | 906,145 |
Lincoln Electric Holdings, Inc. | 12,283 | 3,137,569 |
Lindsay Corp. | 3,037 | 357,333 |
Mueller Industries, Inc. | 69,352 | 3,740,153 |
Oshkosh Corp. | 35,301 | 4,402,388 |
RBC Bearings, Inc. * | 7,908 | 2,137,928 |
SPX Technologies, Inc. * | 12,087 | 1,488,272 |
Standex International Corp. | 2,080 | 379,018 |
Terex Corp. | 20,629 | 1,328,508 |
Timken Co. (The) | 27,735 | 2,424,871 |
Titan International, Inc. * | 16,534 | 206,014 |
Toro Co. (The) | 8,352 | 765,294 |
Wabash National Corp. | 11,567 | 346,316 |
Watts Water Technologies, Inc., Class A | 6,391 | 1,358,407 |
53,486,217 | ||
Marine Transportation — 0.3% | ||
Kirby Corp. * | 17,554 | 1,673,247 |
Matson, Inc. | 15,460 | 1,737,704 |
3,410,951 | ||
Media — 0.4% | ||
Cable One, Inc. | 2,850 | 1,205,921 |
John Wiley & Sons, Inc., Class A | 12,255 | 467,283 |
New York Times Co. (The), Class A | 47,827 | 2,067,083 |
3,740,287 | ||
Metals & Mining — 2.4% | ||
Alcoa Corp. | 29,456 | 995,318 |
Alpha Metallurgical Resources, Inc. | 4,825 | 1,597,895 |
ATI, Inc. * (a) | 35,656 | 1,824,518 |
Cleveland-Cliffs, Inc. * | 140,864 | 3,203,247 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Metals & Mining — continued | ||
Commercial Metals Co. | 59,850 | 3,517,384 |
Haynes International, Inc. | 10,978 | 659,997 |
Materion Corp. | 11,102 | 1,462,689 |
Olympic Steel, Inc. | 3,036 | 215,192 |
Reliance, Inc. | 21,397 | 7,150,449 |
Royal Gold, Inc. | 4,900 | 596,869 |
SunCoke Energy, Inc. | 79,118 | 891,660 |
United States Steel Corp. (a) | 43,458 | 1,772,217 |
Warrior Met Coal, Inc. | 24,505 | 1,487,454 |
25,374,889 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.4% | ||
Annaly Capital Management, Inc. | 136,678 | 2,691,190 |
Ellington Financial, Inc. (a) | 13,929 | 164,501 |
KKR Real Estate Finance Trust, Inc. | 18,515 | 186,261 |
Starwood Property Trust, Inc. (a) | 59,357 | 1,206,728 |
4,248,680 | ||
Multi-Utilities — 0.3% | ||
Northwestern Energy Group, Inc. | 23,311 | 1,187,229 |
Unitil Corp. | 32,995 | 1,727,288 |
2,914,517 | ||
Office REITs — 0.8% | ||
Brandywine Realty Trust | 41,522 | 199,306 |
COPT Defense Properties | 69,283 | 1,674,570 |
Cousins Properties, Inc. | 62,516 | 1,502,885 |
Easterly Government Properties, Inc. | 29,240 | 336,552 |
Highwoods Properties, Inc. (a) | 27,677 | 724,584 |
Hudson Pacific Properties, Inc. | 34,119 | 220,067 |
Kilroy Realty Corp. | 56,688 | 2,065,144 |
SL Green Realty Corp. (a) | 26,774 | 1,476,051 |
8,199,159 | ||
Oil, Gas & Consumable Fuels — 4.0% | ||
Antero Midstream Corp. | 81,236 | 1,142,178 |
Antero Resources Corp. * | 33,394 | 968,426 |
California Resources Corp. | 20,412 | 1,124,701 |
Callon Petroleum Co. * | 12,115 | 433,232 |
Chord Energy Corp. | 17,671 | 3,149,679 |
Civitas Resources, Inc. (a) | 32,663 | 2,479,448 |
CNX Resources Corp. * | 25,874 | 613,731 |
CONSOL Energy, Inc. | 7,274 | 609,270 |
Dorian LPG Ltd. | 8,173 | 314,334 |
DT Midstream, Inc. | 15,826 | 966,969 |
Equitrans Midstream Corp. | 112,643 | 1,406,911 |
Green Plains, Inc. * | 31,847 | 736,303 |
HF Sinclair Corp. | 52,742 | 3,184,035 |
Matador Resources Co. (a) | 68,185 | 4,552,713 |
Murphy Oil Corp. | 41,449 | 1,894,219 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
Ovintiv, Inc. | 67,309 | 3,493,337 |
PBF Energy, Inc., Class A | 24,158 | 1,390,776 |
Permian Resources Corp. (a) | 119,532 | 2,110,935 |
Range Resources Corp. | 84,534 | 2,910,506 |
REX American Resources Corp. * | 14,190 | 833,095 |
SM Energy Co. | 80,624 | 4,019,106 |
Southwestern Energy Co. * | 497,501 | 3,771,058 |
Talos Energy, Inc. * | 10,157 | 141,487 |
World Kinect Corp. | 17,869 | 472,635 |
42,719,084 | ||
Paper & Forest Products — 0.2% | ||
Louisiana-Pacific Corp. | 30,830 | 2,586,945 |
Passenger Airlines — 0.2% | ||
Alaska Air Group, Inc. * | 34,658 | 1,489,947 |
SkyWest, Inc. * | 11,744 | 811,276 |
2,301,223 | ||
Personal Care Products — 0.7% | ||
BellRing Brands, Inc. * | 39,925 | 2,356,773 |
Coty, Inc., Class A * | 49,661 | 593,945 |
elf Beauty, Inc. * | 19,194 | 3,762,600 |
Inter Parfums, Inc. | 4,717 | 662,786 |
USANA Health Sciences, Inc. * | 3,235 | 156,897 |
7,533,001 | ||
Pharmaceuticals — 0.4% | ||
Jazz Pharmaceuticals plc * | 24,258 | 2,921,148 |
Prestige Consumer Healthcare, Inc. * | 8,808 | 639,108 |
Supernus Pharmaceuticals, Inc. * | 13,969 | 476,483 |
4,036,739 | ||
Professional Services — 2.6% | ||
ASGN, Inc. * | 16,534 | 1,732,102 |
CACI International, Inc., Class A * | 13,426 | 5,086,172 |
Concentrix Corp. (a) | 3,131 | 207,335 |
ExlService Holdings, Inc. * | 50,637 | 1,610,257 |
FTI Consulting, Inc. * | 8,525 | 1,792,722 |
Genpact Ltd. | 102,577 | 3,379,912 |
Heidrick & Struggles International, Inc. | 26,849 | 903,737 |
Insperity, Inc. | 9,580 | 1,050,064 |
KBR, Inc. | 38,375 | 2,442,952 |
Kelly Services, Inc., Class A | 11,564 | 289,563 |
Korn Ferry | 33,341 | 2,192,504 |
ManpowerGroup, Inc. | 26,939 | 2,091,544 |
Maximus, Inc. | 18,849 | 1,581,431 |
Paylocity Holding Corp. * | 10,386 | 1,784,938 |
Science Applications International Corp. | 14,473 | 1,887,134 |
28,032,367 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Real Estate Management & Development — 0.5% | ||
Anywhere Real Estate, Inc. * | 47,389 | 292,864 |
Cushman & Wakefield plc * | 47,884 | 500,866 |
eXp World Holdings, Inc. (a) | 19,337 | 199,751 |
Jones Lang LaSalle, Inc. * | 21,387 | 4,172,390 |
St. Joe Co. (The) | 10,478 | 607,410 |
5,773,281 | ||
Residential REITs — 0.9% | ||
American Homes 4 Rent, Class A | 85,518 | 3,145,352 |
Apartment Income REIT Corp. | 42,609 | 1,383,514 |
Centerspace | 13,618 | 778,132 |
Equity LifeStyle Properties, Inc. | 35,379 | 2,278,408 |
Independence Realty Trust, Inc. | 62,770 | 1,012,480 |
NexPoint Residential Trust, Inc. | 7,190 | 231,446 |
Veris Residential, Inc. | 20,751 | 315,623 |
9,144,955 | ||
Retail REITs — 1.6% | ||
Agree Realty Corp. | 45,206 | 2,582,167 |
Brixmor Property Group, Inc. | 169,027 | 3,963,683 |
Getty Realty Corp. | 12,664 | 346,360 |
Kite Realty Group Trust | 64,456 | 1,397,406 |
Macerich Co. (The) | 87,477 | 1,507,229 |
NNN REIT, Inc. | 82,092 | 3,508,612 |
Retail Opportunity Investments Corp. | 165,901 | 2,126,851 |
Saul Centers, Inc. | 3,219 | 123,899 |
SITE Centers Corp. | 47,489 | 695,714 |
Tanger, Inc. (a) | 12,065 | 356,280 |
16,608,201 | ||
Semiconductors & Semiconductor Equipment — 2.9% | ||
Axcelis Technologies, Inc. * | 10,386 | 1,158,247 |
Cohu, Inc. * | 11,992 | 399,693 |
Diodes, Inc. * | 11,665 | 822,383 |
FormFactor, Inc. * | 25,153 | 1,147,731 |
Ichor Holdings Ltd. * | 38,671 | 1,493,474 |
Kulicke & Soffa Industries, Inc. (Singapore) | 67,152 | 3,378,417 |
Lattice Semiconductor Corp. * | 41,159 | 3,219,869 |
MaxLinear, Inc. * | 20,495 | 382,642 |
MKS Instruments, Inc. | 15,695 | 2,087,435 |
Photronics, Inc. * | 17,018 | 481,950 |
Power Integrations, Inc. | 16,806 | 1,202,469 |
Rambus, Inc. * | 32,920 | 2,034,785 |
Semtech Corp. * | 19,822 | 544,907 |
Silicon Laboratories, Inc. * | 23,132 | 3,324,531 |
SiTime Corp. * (a) | 4,490 | 418,603 |
SMART Global Holdings, Inc. * | 62,676 | 1,649,632 |
SolarEdge Technologies, Inc. * | 41,775 | 2,965,189 |
Synaptics, Inc. * | 9,973 | 972,966 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
Ultra Clean Holdings, Inc. * | 23,079 | 1,060,249 |
Universal Display Corp. | 12,190 | 2,053,405 |
Veeco Instruments, Inc. * | 2,007 | 70,586 |
Wolfspeed, Inc. * (a) | 19,221 | 567,020 |
31,436,183 | ||
Software — 2.4% | ||
ACI Worldwide, Inc. * | 28,154 | 934,994 |
Adeia, Inc. | 107,925 | 1,178,541 |
Alarm.com Holdings, Inc. * | 6,152 | 445,835 |
Blackbaud, Inc. * | 13,773 | 1,021,130 |
DoubleVerify Holdings, Inc. * | 70,678 | 2,485,038 |
Dynatrace, Inc. * | 60,304 | 2,800,518 |
Envestnet, Inc. * | 23,847 | 1,380,980 |
InterDigital, Inc. | 9,346 | 994,975 |
LiveRamp Holdings, Inc. * | 63,352 | 2,185,644 |
Manhattan Associates, Inc. * | 19,024 | 4,760,376 |
NCR Voyix Corp. * | 59,589 | 752,609 |
Progress Software Corp. | 9,054 | 482,669 |
Qualys, Inc. * | 9,436 | 1,574,585 |
SPS Commerce, Inc. * | 11,565 | 2,138,369 |
Teradata Corp. * | 30,309 | 1,172,049 |
Xperi, Inc. * | 111,315 | 1,342,459 |
25,650,771 | ||
Specialized REITs — 1.6% | ||
CubeSmart | 86,330 | 3,903,843 |
EPR Properties | 20,777 | 881,984 |
Four Corners Property Trust, Inc. | 25,756 | 630,249 |
Gaming and Leisure Properties, Inc. | 52,672 | 2,426,599 |
Lamar Advertising Co., Class A | 23,680 | 2,827,629 |
National Storage Affiliates Trust | 37,438 | 1,466,072 |
PotlatchDeltic Corp. | 51,697 | 2,430,793 |
Rayonier, Inc. | 50,710 | 1,685,600 |
Uniti Group, Inc. | 58,475 | 345,002 |
16,597,771 | ||
Specialty Retail — 4.6% | ||
Abercrombie & Fitch Co., Class A * | 17,244 | 2,161,191 |
Academy Sports & Outdoors, Inc. | 21,551 | 1,455,555 |
Advance Auto Parts, Inc. | 16,373 | 1,393,179 |
American Eagle Outfitters, Inc. | 48,100 | 1,240,499 |
Asbury Automotive Group, Inc. * | 6,220 | 1,466,552 |
AutoNation, Inc. * | 18,997 | 3,145,523 |
Boot Barn Holdings, Inc. * (a) | 8,463 | 805,254 |
Buckle, Inc. (The) | 7,504 | 302,186 |
Burlington Stores, Inc. * | 11,886 | 2,759,810 |
Caleres, Inc. | 13,773 | 565,106 |
Dick's Sporting Goods, Inc. | 19,476 | 4,379,373 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Specialty Retail — continued | ||
Five Below, Inc. * | 12,461 | 2,260,176 |
Floor & Decor Holdings, Inc., Class A * (a) | 15,888 | 2,059,403 |
Foot Locker, Inc. | 17,742 | 505,647 |
Gap, Inc. (The) | 67,511 | 1,859,928 |
Group 1 Automotive, Inc. | 4,505 | 1,316,496 |
Haverty Furniture Cos., Inc. (a) | 4,828 | 164,731 |
Lithia Motors, Inc., Class A | 7,561 | 2,274,803 |
Murphy USA, Inc. | 6,554 | 2,747,437 |
ODP Corp. (The) * | 16,071 | 852,567 |
RH * | 5,203 | 1,811,997 |
Shoe Carnival, Inc. | 5,613 | 205,660 |
Signet Jewelers Ltd. | 16,806 | 1,681,776 |
Upbound Group, Inc. | 7,721 | 271,856 |
Urban Outfitters, Inc. * | 20,356 | 883,858 |
Valvoline, Inc. * | 55,768 | 2,485,580 |
Victoria's Secret & Co. * | 26,190 | 507,562 |
Williams-Sonoma, Inc. (a) | 24,348 | 7,731,220 |
49,294,925 | ||
Textiles, Apparel & Luxury Goods — 1.4% | ||
Capri Holdings Ltd. * | 32,756 | 1,483,847 |
Carter's, Inc. | 9,580 | 811,234 |
Columbia Sportswear Co. (a) | 2,419 | 196,374 |
Crocs, Inc. * | 18,607 | 2,675,687 |
G-III Apparel Group Ltd. * | 12,461 | 361,494 |
Hanesbrands, Inc. * | 58,528 | 339,462 |
Kontoor Brands, Inc. | 16,379 | 986,835 |
Oxford Industries, Inc. (a) | 4,435 | 498,494 |
PVH Corp. | 19,162 | 2,694,369 |
Skechers U.S.A., Inc., Class A * | 51,881 | 3,178,230 |
Steven Madden Ltd. | 23,805 | 1,006,475 |
Wolverine World Wide, Inc. | 35,266 | 395,332 |
14,627,833 | ||
Tobacco — 0.0% ^ | ||
Vector Group Ltd. | 35,035 | 383,984 |
Trading Companies & Distributors — 1.9% | ||
Applied Industrial Technologies, Inc. | 10,576 | 2,089,289 |
Boise Cascade Co. | 19,024 | 2,917,711 |
Core & Main, Inc., Class A * | 35,013 | 2,004,494 |
DNOW, Inc. * | 133,471 | 2,028,759 |
DXP Enterprises, Inc. * | 3,737 | 200,789 |
GMS, Inc. * | 35,938 | 3,498,205 |
MSC Industrial Direct Co., Inc., Class A | 13,497 | 1,309,749 |
Watsco, Inc. (a) | 9,614 | 4,152,960 |
WESCO International, Inc. | 11,973 | 2,050,735 |
20,252,691 |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Water Utilities — 0.4% | ||
American States Water Co. | 10,431 | 753,535 |
California Water Service Group | 13,773 | 640,169 |
Essential Utilities, Inc. | 81,452 | 3,017,797 |
4,411,501 | ||
Wireless Telecommunication Services — 0.1% | ||
Gogo, Inc. * | 65,821 | 577,908 |
Telephone and Data Systems, Inc. | 24,275 | 388,886 |
966,794 | ||
Total Common Stocks (Cost $753,488,415) | 1,051,335,772 | |
Short-Term Investments — 4.7% | ||
Investment Companies — 2.0% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (b) (c) (Cost $21,419,953) | 21,419,953 | 21,419,953 |
Investment of Cash Collateral from Securities Loaned — 2.7% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.48% (b) (c) | 23,997,200 | 23,997,200 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (b) (c) | 4,374,682 | 4,374,682 |
Total Investment of Cash Collateral from Securities Loaned (Cost $28,380,181) | 28,371,882 | |
Total Short-Term Investments (Cost $49,800,134) | 49,791,835 | |
Total Investments — 103.0% (Cost $803,288,549) | 1,101,127,607 | |
Liabilities in Excess of Other Assets — (3.0)% | (32,163,052 ) | |
NET ASSETS — 100.0% | 1,068,964,555 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at March 31, 2024. The total value of securities on loan at March 31, 2024 is $27,920,885. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of March 31, 2024. |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)Futures contracts outstanding as of March 31, 2024:
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Russell 2000 E-Mini Index | 29 | 06/21/2024 | USD | 3,111,410 | 71,863 |
S&P MidCap 400 E-Mini Index | 37 | 06/21/2024 | USD | 11,383,420 | 288,411 |
360,274 |
Abbreviations | |
USD | United States Dollar |
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 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 net asset value ("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) | $1,101,127,607 | $— | $— | $1,101,127,607 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $360,274 | $— | $— | $360,274 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
B. Investment Transactions with Affiliates— The Fund invested in Underlying Funds advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuers listed in the table below to be affiliated issuers.
JPMorgan Market Expansion Enhanced Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF March 31, 2024 (Unaudited) (continued)The Underlying Funds’ distributions may be reinvested into such Underlying Funds. Reinvestment amounts are included in the purchases at cost amounts in the table below.
For the period ended March 31, 2024 | |||||||||
Security Description | Value at June 30, 2023 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at March 31, 2024 | Shares at March 31, 2024 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.48% (a) (b) | $17,998,200 | $154,000,000 | $148,000,000 | $7,298 | $(8,298 ) | $23,997,200 | 23,997,200 | $1,610,193 | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (a) (b) | 5,817,078 | 94,648,798 | 96,091,194 | — | — | 4,374,682 | 4,374,682 | 230,514 | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (a) (b) | 19,564,496 | 134,790,868 | 132,935,411 | — | — | 21,419,953 | 21,419,953 | 711,924 | — |
Total | $43,379,774 | $383,439,666 | $377,026,605 | $7,298 | $(8,298 ) | $49,791,835 | $2,552,631 | $— |
(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 March 31, 2024. |