JPMorgan Hedged Equity Laddered Overlay 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 Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 100.2% | ||
Aerospace & Defense — 1.5% | ||
Howmet Aerospace, Inc. | 15,912 | 895,209 |
RTX Corp. | 20,754 | 1,891,104 |
Textron, Inc. | 12,842 | 1,087,846 |
3,874,159 | ||
Air Freight & Logistics — 1.0% | ||
FedEx Corp. | 3,057 | 737,624 |
United Parcel Service, Inc., Class B | 13,177 | 1,869,816 |
2,607,440 | ||
Automobile Components — 0.2% | ||
Aptiv plc * | 5,754 | 467,973 |
BorgWarner, Inc. | 1,497 | 50,748 |
518,721 | ||
Automobiles — 1.2% | ||
Tesla, Inc. * (a) | 16,423 | 3,075,864 |
Banks — 3.5% | ||
Bank of America Corp. (a) | 93,954 | 3,195,376 |
Fifth Third Bancorp | 28,815 | 986,626 |
Truist Financial Corp. | 39,318 | 1,457,125 |
US Bancorp | 33,686 | 1,399,316 |
Wells Fargo & Co. (a) | 43,724 | 2,194,070 |
9,232,513 | ||
Beverages — 1.9% | ||
Coca-Cola Co. (The) (a) | 41,229 | 2,452,713 |
Constellation Brands, Inc., Class A | 4 | 980 |
Monster Beverage Corp. * | 5,754 | 316,585 |
PepsiCo, Inc. (a) | 13,516 | 2,277,852 |
5,048,130 | ||
Biotechnology — 3.1% | ||
AbbVie, Inc. (a) | 20,612 | 3,388,613 |
Biogen, Inc. * | 3,172 | 782,405 |
BioMarin Pharmaceutical, Inc. * | 2,499 | 220,112 |
Neurocrine Biosciences, Inc. * | 1,349 | 188,550 |
Regeneron Pharmaceuticals, Inc. * | 1,830 | 1,725,287 |
Sarepta Therapeutics, Inc. * | 972 | 115,658 |
Vertex Pharmaceuticals, Inc. * | 4,044 | 1,752,589 |
8,173,214 | ||
Broadline Retail — 4.1% | ||
Amazon.com, Inc. * (a) | 69,590 | 10,800,368 |
Building Products — 1.0% | ||
Masco Corp. | 10,100 | 679,629 |
Trane Technologies plc | 7,803 | 1,966,746 |
2,646,375 | ||
Capital Markets — 2.5% | ||
Blackstone, Inc. | 1,920 | 238,944 |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Capital Markets — continued | ||
Charles Schwab Corp. (The) | 17,606 | 1,107,770 |
CME Group, Inc. | 4,697 | 966,830 |
Goldman Sachs Group, Inc. (The) | 1,872 | 718,867 |
Intercontinental Exchange, Inc. | 11,000 | 1,400,630 |
Morgan Stanley | 9,925 | 865,857 |
S&P Global, Inc. | 2,332 | 1,045,552 |
State Street Corp. | 3,239 | 239,265 |
6,583,715 | ||
Chemicals — 2.0% | ||
Air Products and Chemicals, Inc. | 1,620 | 414,250 |
Dow, Inc. | 23,295 | 1,248,612 |
Eastman Chemical Co. | 7,530 | 629,132 |
Linde plc | 4,533 | 1,835,094 |
LyondellBasell Industries NV, Class A | 7,298 | 686,888 |
PPG Industries, Inc. | 2,681 | 378,128 |
5,192,104 | ||
Commercial Services & Supplies — 0.1% | ||
Cintas Corp. | 441 | 266,615 |
Communications Equipment — 0.2% | ||
Motorola Solutions, Inc. | 1,508 | 481,806 |
Consumer Finance — 0.2% | ||
Capital One Financial Corp. | 3,063 | 414,485 |
Consumer Staples Distribution & Retail — 2.1% | ||
Costco Wholesale Corp. (a) | 3,863 | 2,684,321 |
Dollar Tree, Inc. * | 2,340 | 305,651 |
Target Corp. | 8,511 | 1,183,710 |
Walmart, Inc. | 8,715 | 1,440,154 |
5,613,836 | ||
Containers & Packaging — 0.0% ^ | ||
International Paper Co. | 2,078 | 74,455 |
Distributors — 0.1% | ||
LKQ Corp. | 4,537 | 211,742 |
Electric Utilities — 1.9% | ||
Constellation Energy Corp. | 2,912 | 355,264 |
NextEra Energy, Inc. (a) | 25,908 | 1,518,986 |
PG&E Corp. | 82,845 | 1,397,595 |
Southern Co. (The) | 24,564 | 1,707,689 |
4,979,534 | ||
Electrical Equipment — 0.6% | ||
Eaton Corp. plc | 6,938 | 1,707,303 |
Electronic Equipment, Instruments & Components — 0.3% | ||
Corning, Inc. | 8,210 | 266,743 |
Keysight Technologies, Inc. * | 4,302 | 659,324 |
926,067 |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 9,453 | 269,410 |
Entertainment — 0.6% | ||
Netflix, Inc. * | 2,571 | 1,450,327 |
Warner Bros Discovery, Inc. * | 18,181 | 182,173 |
1,632,500 | ||
Financial Services — 4.9% | ||
Berkshire Hathaway, Inc., Class B * (a) | 9,780 | 3,752,977 |
Block, Inc. * | 1,688 | 109,737 |
Fiserv, Inc. * | 2,846 | 403,762 |
FleetCor Technologies, Inc. * | 3,617 | 1,048,677 |
Mastercard, Inc., Class A (a) | 9,702 | 4,358,430 |
Visa, Inc., Class A (a) | 12,417 | 3,393,069 |
13,066,652 | ||
Food Products — 0.8% | ||
Mondelez International, Inc., Class A (a) | 28,729 | 2,162,432 |
Ground Transportation — 1.2% | ||
CSX Corp. | 15,505 | 553,528 |
Norfolk Southern Corp. | 2,882 | 677,962 |
Uber Technologies, Inc. * | 16,741 | 1,092,685 |
Union Pacific Corp. | 3,116 | 760,086 |
3,084,261 | ||
Health Care Equipment & Supplies — 2.5% | ||
Baxter International, Inc. | 10,221 | 395,450 |
Becton Dickinson & Co. | 1,823 | 435,351 |
Boston Scientific Corp. * (a) | 31,646 | 2,001,926 |
Dexcom, Inc. * | 2,498 | 303,132 |
Intuitive Surgical, Inc. * | 1,580 | 597,588 |
Medtronic plc | 17,255 | 1,510,503 |
Stryker Corp. | 4,099 | 1,375,132 |
6,619,082 | ||
Health Care Providers & Services — 2.7% | ||
Centene Corp. * | 10,493 | 790,228 |
CVS Health Corp. | 4,719 | 350,952 |
Elevance Health, Inc. | 2,462 | 1,214,849 |
Humana, Inc. | 1,337 | 505,466 |
McKesson Corp. | 840 | 419,908 |
UnitedHealth Group, Inc. (a) | 7,862 | 4,023,300 |
7,304,703 | ||
Health Care REITs — 0.5% | ||
Ventas, Inc. | 18,219 | 845,180 |
Welltower, Inc. | 5,283 | 457,032 |
1,302,212 | ||
Hotels, Restaurants & Leisure — 2.7% | ||
Booking Holdings, Inc. * | 533 | 1,869,482 |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hotels, Restaurants & Leisure — continued | ||
Chipotle Mexican Grill, Inc. * | 668 | 1,609,058 |
Expedia Group, Inc. * | 7,208 | 1,069,163 |
Marriott International, Inc., Class A | 3,184 | 763,300 |
Royal Caribbean Cruises Ltd. * | 6,177 | 787,568 |
Yum! Brands, Inc. | 8,650 | 1,120,088 |
7,218,659 | ||
Household Durables — 0.3% | ||
Lennar Corp., Class A | 2,476 | 371,028 |
Toll Brothers, Inc. | 3,091 | 307,091 |
678,119 | ||
Household Products — 0.9% | ||
Church & Dwight Co., Inc. | 6,703 | 669,294 |
Procter & Gamble Co. (The) | 10,785 | 1,694,755 |
2,364,049 | ||
Industrial Conglomerates — 1.0% | ||
Honeywell International, Inc. (a) | 13,422 | 2,714,734 |
Industrial REITs — 0.7% | ||
Prologis, Inc. | 15,072 | 1,909,472 |
Insurance — 2.3% | ||
Aflac, Inc. | 7,720 | 651,105 |
Chubb Ltd. | 3,733 | 914,585 |
Globe Life, Inc. | 4,646 | 570,622 |
MetLife, Inc. | 8,980 | 622,494 |
Progressive Corp. (The) | 9,902 | 1,765,031 |
Travelers Cos., Inc. (The) | 7,728 | 1,633,390 |
6,157,227 | ||
Interactive Media & Services — 6.0% | ||
Alphabet, Inc., Class A * (a) | 38,736 | 5,426,913 |
Alphabet, Inc., Class C * (a) | 26,957 | 3,822,503 |
Meta Platforms, Inc., Class A * (a) | 17,155 | 6,692,852 |
15,942,268 | ||
IT Services — 1.3% | ||
Accenture plc, Class A | 6,238 | 2,269,884 |
Cognizant Technology Solutions Corp., Class A | 15,819 | 1,219,961 |
3,489,845 | ||
Life Sciences Tools & Services — 1.3% | ||
Danaher Corp. | 7,168 | 1,719,675 |
Thermo Fisher Scientific, Inc. | 3,302 | 1,779,712 |
3,499,387 | ||
Machinery — 1.7% | ||
Deere & Co. (a) | 5,748 | 2,262,298 |
Dover Corp. | 3,915 | 586,389 |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Machinery — continued | ||
Ingersoll Rand, Inc. | 2,746 | 219,295 |
Otis Worldwide Corp. | 15,677 | 1,386,474 |
4,454,456 | ||
Media — 1.3% | ||
Charter Communications, Inc., Class A * | 2,672 | 990,537 |
Comcast Corp., Class A (a) | 51,021 | 2,374,517 |
Liberty Media Corp-Liberty SiriusXM, Class A * | 6,391 | 194,223 |
3,559,277 | ||
Metals & Mining — 0.2% | ||
Nucor Corp. | 2,365 | 442,089 |
Multi-Utilities — 0.4% | ||
DTE Energy Co. | 1,177 | 124,079 |
Public Service Enterprise Group, Inc. | 16,242 | 941,874 |
1,065,953 | ||
Oil, Gas & Consumable Fuels — 3.8% | ||
Chevron Corp. | 7,296 | 1,075,649 |
ConocoPhillips (a) | 15,332 | 1,715,191 |
Diamondback Energy, Inc. | 6,973 | 1,072,029 |
EOG Resources, Inc. (a) | 14,712 | 1,674,079 |
Exxon Mobil Corp. (a) | 40,441 | 4,157,739 |
Marathon Oil Corp. | 7,345 | 167,833 |
Pioneer Natural Resources Co. | 483 | 111,008 |
9,973,528 | ||
Passenger Airlines — 0.1% | ||
Delta Air Lines, Inc. | 9,469 | 370,617 |
Personal Care Products — 0.2% | ||
Kenvue, Inc. | 32,521 | 675,136 |
Pharmaceuticals — 3.2% | ||
Bristol-Myers Squibb Co. | 36,552 | 1,786,296 |
Eli Lilly & Co. (a) | 4,693 | 3,029,848 |
Johnson & Johnson (a) | 12,084 | 1,920,148 |
Merck & Co., Inc. | 14,131 | 1,706,742 |
8,443,034 | ||
Professional Services — 0.2% | ||
Leidos Holdings, Inc. | 5,571 | 615,428 |
Residential REITs — 0.3% | ||
Equity LifeStyle Properties, Inc. | 6,528 | 441,881 |
Sun Communities, Inc. | 2,303 | 288,681 |
UDR, Inc. | 2,414 | 86,952 |
817,514 | ||
Semiconductors & Semiconductor Equipment — 9.6% | ||
Advanced Micro Devices, Inc. * (a) | 15,598 | 2,615,629 |
Analog Devices, Inc. (a) | 10,293 | 1,979,961 |
Broadcom, Inc. | 1,252 | 1,477,360 |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
Lam Research Corp. (a) | 2,813 | 2,321,203 |
Micron Technology, Inc. | 7,193 | 616,800 |
NVIDIA Corp. (a) | 17,965 | 11,053,326 |
NXP Semiconductors NV (China) (a) | 10,417 | 2,193,508 |
Qorvo, Inc. * | 3,678 | 366,844 |
Teradyne, Inc. | 5,678 | 548,438 |
Texas Instruments, Inc. (a) | 14,879 | 2,382,425 |
25,555,494 | ||
Software — 11.1% | ||
Adobe, Inc. * (a) | 4,843 | 2,991,909 |
Cadence Design Systems, Inc. * | 1,790 | 516,343 |
Intuit, Inc. | 3,214 | 2,029,095 |
Microsoft Corp. (a) | 52,887 | 21,026,813 |
Oracle Corp. | 7,829 | 874,499 |
ServiceNow, Inc. * | 2,519 | 1,928,043 |
29,366,702 | ||
Specialized REITs — 0.7% | ||
Digital Realty Trust, Inc. | 7,014 | 985,187 |
SBA Communications Corp. | 3,642 | 815,298 |
1,800,485 | ||
Specialty Retail — 2.6% | ||
AutoNation, Inc. * | 2,772 | 387,137 |
AutoZone, Inc. * | 636 | 1,756,715 |
Best Buy Co., Inc. | 10,478 | 759,550 |
Burlington Stores, Inc. * | 2,843 | 543,439 |
Lowe's Cos., Inc. (a) | 11,458 | 2,438,721 |
O'Reilly Automotive, Inc. * | 155 | 158,573 |
TJX Cos., Inc. (The) | 8,781 | 833,405 |
6,877,540 | ||
Technology Hardware, Storage & Peripherals — 6.8% | ||
Apple, Inc. (a) | 91,812 | 16,930,133 |
Seagate Technology Holdings plc | 13,054 | 1,118,467 |
Western Digital Corp. * | 2,101 | 120,282 |
18,168,882 | ||
Tobacco — 0.3% | ||
Altria Group, Inc. | 6,912 | 277,309 |
Philip Morris International, Inc. | 7,177 | 652,031 |
929,340 | ||
Trading Companies & Distributors — 0.2% | ||
United Rentals, Inc. | 813 | 508,450 |
Wireless Telecommunication Services — 0.2% | ||
T-Mobile US, Inc. | 2,695 | 434,515 |
Total Common Stocks (Cost $248,708,248) | 265,901,898 |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued) INVESTMENTS | NO. OF CONTRACTS | VALUE($) |
Options Purchased — 0.5% | ||
Put Options Purchased — 0.5% | ||
SPDR S&P 500 ETF Trust | ||
2/29/2024 at USD 431.00 , American Style | ||
Notional Amount: USD 90,974,592 | ||
Counterparty: Exchange-Traded * | 1,884 | 74,418 |
3/28/2024 at USD 450.00 , American Style | ||
Notional Amount: USD 89,912,256 | ||
Counterparty: Exchange-Traded * | 1,862 | 407,778 |
4/30/2024 at USD 458.00 , American Style | ||
Notional Amount: USD 85,469,760 | ||
Counterparty: Exchange-Traded * | 1,770 | 784,995 |
Total Put Options Purchased (Cost $2,108,796) | 1,267,191 | |
SHARES | ||
Short-Term Investments — 0.5% | ||
Investment Companies — 0.5% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (b) (c) (Cost $1,456,724) | 1,456,724 | 1,456,724 |
Total Investments — 101.2% (Cost $252,273,768) | 268,625,813 | |
Liabilities in Excess of Other Assets — (1.2)% | (3,240,675 ) | |
NET ASSETS — 100.0% | 265,385,138 |
Percentages indicated are based on net assets. |
Abbreviations | |
ETF | Exchange Traded Fund |
REIT | Real Estate Investment Trust |
SPDR | Standard & Poor's Depositary Receipt |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | All or a portion of the security is segregated for options written. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of January 31, 2024. |
Futures contracts outstanding as of January 31, 2024:
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 6 | 03/15/2024 | USD | 1,460,700 | 14,475 |
Abbreviations | |
USD | United States Dollar |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)Written Call Options Contracts as of January 31, 2024
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 1,884 | USD 90,974,592 | USD 480.00 | 2/29/2024 | (1,833,132 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 1,862 | USD 89,912,256 | USD 500.00 | 3/28/2024 | (636,804 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 1,770 | USD 85,469,760 | USD 509.00 | 4/30/2024 | (618,615 ) |
(3,088,551 ) |
Written Put Options Contracts as of January 31, 2024
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 1,884 | USD 90,974,592 | USD 365.00 | 2/29/2024 | (22,608 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 1,862 | USD 89,912,256 | USD 380.00 | 3/28/2024 | (74,480 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 1,770 | USD 85,469,760 | USD 385.00 | 4/30/2024 | (149,565 ) |
(246,653 ) | ||||||
Total Written Options Contracts (Premiums Received $2,471,979) | (3,335,204 ) |
Abbreviations | |
ETF | Exchange Traded Fund |
SPDR | Standard & Poor's Depositary Receipt |
USD | United States Dollar |
JPMorgan Hedged Equity Laddered Overlay 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. are valued by applying international fair value factors provided by approved Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAVs are calculated.
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 and options 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) | $268,625,813 | $— | $— | $268,625,813 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $14,475 | $— | $— | $14,475 |
Depreciation in Other Financial Instruments | ||||
Options Written (a) | ||||
Call Options Written | (3,088,551 ) | — | — | (3,088,551 ) |
JPMorgan Hedged Equity Laddered Overlay ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Put Options Written | $(246,653 ) | $— | $— | $(246,653 ) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $(3,320,729 ) | $— | $— | $(3,320,729 ) |
(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. 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 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) | $451,185 | $3,815,690 | $2,810,151 | $— | $— | $1,456,724 | 1,456,724 | $6,904 | $— |
(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. |