JPMorgan Carbon Transition U.S. Equity ETF
Schedule of Portfolio Investments as of July 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 July 31, 2024 (Unaudited)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.9% | ||
Aerospace & Defense — 0.0% ^ | ||
Hexcel Corp. | 21 | 1,390 |
Air Freight & Logistics — 0.1% | ||
CH Robinson Worldwide, Inc. | 25 | 2,226 |
Expeditors International of Washington, Inc. | 31 | 3,870 |
6,096 | ||
Automobile Components — 0.0% ^ | ||
Gentex Corp. | 51 | 1,584 |
Automobiles — 1.7% | ||
Tesla, Inc. * | 395 | 91,668 |
Banks — 1.2% | ||
Bank of America Corp. | 473 | 19,067 |
Citigroup, Inc. | 425 | 27,574 |
NU Holdings Ltd., Class A (Brazil) * | 702 | 8,515 |
Wells Fargo & Co. | 198 | 11,749 |
66,905 | ||
Beverages — 1.3% | ||
Brown-Forman Corp., Class B | 49 | 2,213 |
Constellation Brands, Inc., Class A | 35 | 8,581 |
Keurig Dr Pepper, Inc. | 234 | 8,021 |
Monster Beverage Corp. * | 167 | 8,592 |
PepsiCo, Inc. | 252 | 43,513 |
70,920 | ||
Biotechnology — 2.9% | ||
AbbVie, Inc. | 131 | 24,277 |
Alnylam Pharmaceuticals, Inc. * | 28 | 6,649 |
Amgen, Inc. | 114 | 37,901 |
Gilead Sciences, Inc. | 277 | 21,069 |
Incyte Corp. * | 41 | 2,668 |
Ionis Pharmaceuticals, Inc. * | 33 | 1,632 |
Moderna, Inc. * | 72 | 8,584 |
Natera, Inc. * | 25 | 2,560 |
Regeneron Pharmaceuticals, Inc. * | 23 | 24,821 |
Vertex Pharmaceuticals, Inc. * | 57 | 28,256 |
158,417 | ||
Broadline Retail — 3.4% | ||
Amazon.com, Inc. * | 967 | 180,810 |
eBay, Inc. | 112 | 6,228 |
Etsy, Inc. * | 32 | 2,084 |
189,122 | ||
Building Products — 0.8% | ||
Allegion plc | 19 | 2,599 |
Carlisle Cos., Inc. | 10 | 4,186 |
Carrier Global Corp. | 185 | 12,600 |
Hayward Holdings, Inc. * | 49 | 725 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Building Products — continued | ||
Lennox International, Inc. | 7 | 4,084 |
Masco Corp. | 49 | 3,815 |
Simpson Manufacturing Co., Inc. | 9 | 1,729 |
Trane Technologies plc | 50 | 16,714 |
46,452 | ||
Capital Markets — 4.8% | ||
Affiliated Managers Group, Inc. | 5 | 928 |
Ares Management Corp. | 39 | 5,975 |
BlackRock, Inc. | 14 | 12,271 |
Blackstone, Inc. | 157 | 22,317 |
Cboe Global Markets, Inc. | 23 | 4,221 |
Charles Schwab Corp. (The) | 331 | 21,578 |
CME Group, Inc. | 80 | 15,497 |
Goldman Sachs Group, Inc. (The) | 70 | 35,632 |
Interactive Brokers Group, Inc., Class A | 23 | 2,743 |
Intercontinental Exchange, Inc. | 126 | 19,096 |
Jefferies Financial Group, Inc. | 32 | 1,871 |
KKR & Co., Inc. | 149 | 18,394 |
LPL Financial Holdings, Inc. | 17 | 3,766 |
MarketAxess Holdings, Inc. | 9 | 2,012 |
Moody's Corp. | 35 | 15,977 |
Morgan Stanley | 259 | 26,731 |
Morningstar, Inc. | 7 | 2,223 |
MSCI, Inc. | 17 | 9,193 |
Nasdaq, Inc. | 82 | 5,550 |
Robinhood Markets, Inc., Class A * | 147 | 3,024 |
S&P Global, Inc. | 69 | 33,446 |
TPG, Inc. | 19 | 969 |
Tradeweb Markets, Inc., Class A | 25 | 2,792 |
XP, Inc., Class A (Brazil) | 96 | 1,643 |
267,849 | ||
Chemicals — 1.3% | ||
Albemarle Corp. | 23 | 2,154 |
Ashland, Inc. | 12 | 1,160 |
Celanese Corp. | 23 | 3,247 |
Ecolab, Inc. | 55 | 12,688 |
Element Solutions, Inc. | 51 | 1,374 |
FMC Corp. | 21 | 1,226 |
Huntsman Corp. | 36 | 862 |
International Flavors & Fragrances, Inc. | 57 | 5,670 |
Linde plc | 88 | 39,908 |
Scotts Miracle-Gro Co. (The) | 3 | 236 |
Sherwin-Williams Co. (The) | 18 | 6,314 |
74,839 | ||
Commercial Services & Supplies — 1.2% | ||
Cintas Corp. | 19 | 14,515 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Commercial Services & Supplies — continued | ||
Clean Harbors, Inc. * | 13 | 3,103 |
Copart, Inc. * | 192 | 10,047 |
MSA Safety, Inc. | 6 | 1,132 |
RB Global, Inc. (Canada) | 40 | 3,185 |
Republic Services, Inc. | 46 | 8,939 |
Stericycle, Inc. * | 23 | 1,347 |
Tetra Tech, Inc. | 12 | 2,559 |
Veralto Corp. | 54 | 5,754 |
Waste Management, Inc. | 89 | 18,037 |
68,618 | ||
Communications Equipment — 1.4% | ||
Arista Networks, Inc. * | 57 | 19,753 |
Ciena Corp. * | 32 | 1,688 |
Cisco Systems, Inc. | 809 | 39,196 |
Motorola Solutions, Inc. | 37 | 14,760 |
75,397 | ||
Construction & Engineering — 0.1% | ||
AECOM | 30 | 2,718 |
MasTec, Inc. * | 12 | 1,321 |
4,039 | ||
Consumer Finance — 1.1% | ||
Ally Financial, Inc. | 56 | 2,521 |
American Express Co. | 126 | 31,883 |
Capital One Financial Corp. | 84 | 12,718 |
Discover Financial Services | 55 | 7,919 |
SLM Corp. | 41 | 930 |
Synchrony Financial | 89 | 4,520 |
60,491 | ||
Consumer Staples Distribution & Retail — 0.9% | ||
Costco Wholesale Corp. | 36 | 29,592 |
Walmart, Inc. | 316 | 21,690 |
51,282 | ||
Containers & Packaging — 0.1% | ||
Avery Dennison Corp. | 18 | 3,903 |
Distributors — 0.1% | ||
Genuine Parts Co. | 18 | 2,648 |
Pool Corp. | 8 | 2,992 |
5,640 | ||
Diversified REITs — 0.0% ^ | ||
WP Carey, Inc. | 44 | 2,544 |
Diversified Telecommunication Services — 0.2% | ||
AT&T, Inc. | 169 | 3,253 |
Iridium Communications, Inc. | 22 | 631 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Diversified Telecommunication Services — continued | ||
Liberty Global Ltd., Class C (Belgium) * | 73 | 1,468 |
Verizon Communications, Inc. | 186 | 7,537 |
12,889 | ||
Electric Utilities — 1.2% | ||
Avangrid, Inc. | 11 | 392 |
Edison International | 84 | 6,721 |
Eversource Energy | 78 | 5,063 |
Exelon Corp. | 222 | 8,259 |
FirstEnergy Corp. | 34 | 1,425 |
NextEra Energy, Inc. | 456 | 34,834 |
PG&E Corp. | 473 | 8,632 |
65,326 | ||
Electrical Equipment — 0.7% | ||
Acuity Brands, Inc. | 5 | 1,257 |
AMETEK, Inc. | 51 | 8,848 |
Emerson Electric Co. | 127 | 14,873 |
Generac Holdings, Inc. * | 11 | 1,712 |
Hubbell, Inc. | 12 | 4,748 |
nVent Electric plc | 37 | 2,687 |
Rockwell Automation, Inc. | 25 | 6,966 |
41,091 | ||
Electronic Equipment, Instruments & Components — 0.5% | ||
CDW Corp. | 30 | 6,543 |
Cognex Corp. | 38 | 1,886 |
Keysight Technologies, Inc. * | 39 | 5,443 |
Teledyne Technologies, Inc. * | 10 | 4,219 |
Trimble, Inc. * | 54 | 2,945 |
Vontier Corp. | 44 | 1,726 |
Zebra Technologies Corp., Class A * | 11 | 3,863 |
26,625 | ||
Energy Equipment & Services — 0.4% | ||
Halliburton Co. | 199 | 6,901 |
Schlumberger NV | 317 | 15,308 |
Weatherford International plc * | 20 | 2,357 |
24,566 | ||
Entertainment — 1.6% | ||
Electronic Arts, Inc. | 59 | 8,905 |
Liberty Media Corp-Liberty Formula One, Class C * | 52 | 4,205 |
Live Nation Entertainment, Inc. * | 35 | 3,367 |
Netflix, Inc. * | 72 | 45,241 |
Spotify Technology SA * | 32 | 11,006 |
Take-Two Interactive Software, Inc. * | 37 | 5,570 |
Walt Disney Co. (The) | 94 | 8,807 |
87,101 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Financial Services — 4.6% | ||
Affirm Holdings, Inc. * | 50 | 1,414 |
Apollo Global Management, Inc. | 115 | 14,411 |
Berkshire Hathaway, Inc., Class B * | 117 | 51,304 |
Block, Inc. * | 123 | 7,611 |
Fidelity National Information Services, Inc. | 125 | 9,604 |
Fiserv, Inc. * | 129 | 21,101 |
Global Payments, Inc. | 56 | 5,692 |
Jack Henry & Associates, Inc. | 16 | 2,744 |
Mastercard, Inc., Class A | 129 | 59,819 |
PayPal Holdings, Inc. * | 232 | 15,261 |
Toast, Inc., Class A * | 100 | 2,616 |
Visa, Inc., Class A | 236 | 62,698 |
Western Union Co. (The) | 81 | 963 |
WEX, Inc. * | 7 | 1,284 |
256,522 | ||
Food Products — 0.8% | ||
Freshpet, Inc. * | 13 | 1,582 |
General Mills, Inc. | 125 | 8,392 |
Hershey Co. (The) | 33 | 6,517 |
Kraft Heinz Co. (The) | 92 | 3,239 |
McCormick & Co., Inc. (Non-Voting) | 56 | 4,313 |
Mondelez International, Inc., Class A | 297 | 20,300 |
44,343 | ||
Gas Utilities — 0.0% ^ | ||
National Fuel Gas Co. | 16 | 938 |
UGI Corp. | 45 | 1,115 |
2,053 | ||
Ground Transportation — 0.6% | ||
Landstar System, Inc. | 8 | 1,522 |
Lyft, Inc., Class A * | 90 | 1,085 |
Uber Technologies, Inc. * | 443 | 28,560 |
Union Pacific Corp. | 18 | 4,441 |
35,608 | ||
Health Care Equipment & Supplies — 2.4% | ||
Abbott Laboratories | 84 | 8,899 |
Boston Scientific Corp. * | 326 | 24,085 |
Dexcom, Inc. * | 87 | 5,900 |
Edwards Lifesciences Corp. * | 133 | 8,386 |
Enovis Corp. * | 18 | 857 |
Hologic, Inc. * | 52 | 4,244 |
IDEXX Laboratories, Inc. * | 18 | 8,570 |
Insulet Corp. * | 15 | 2,915 |
Intuitive Surgical, Inc. * | 78 | 34,680 |
Medtronic plc | 9 | 723 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Equipment & Supplies — continued | ||
ResMed, Inc. | 32 | 6,824 |
Stryker Corp. | 80 | 26,196 |
132,279 | ||
Health Care Providers & Services — 3.0% | ||
Cencora, Inc. | 37 | 8,801 |
Cigna Group (The) | 61 | 21,269 |
CVS Health Corp. | 280 | 16,892 |
Elevance Health, Inc. | 51 | 27,133 |
McKesson Corp. | 29 | 17,894 |
Premier, Inc., Class A | 8 | 168 |
UnitedHealth Group, Inc. | 129 | 74,325 |
166,482 | ||
Health Care REITs — 0.0% ^ | ||
Medical Properties Trust, Inc. | 44 | 212 |
Omega Healthcare Investors, Inc. | 65 | 2,366 |
2,578 | ||
Health Care Technology — 0.1% | ||
Certara, Inc. * | 44 | 687 |
Veeva Systems, Inc., Class A * | 33 | 6,334 |
7,021 | ||
Hotels, Restaurants & Leisure — 2.0% | ||
Airbnb, Inc., Class A * | 96 | 13,398 |
Booking Holdings, Inc. | 8 | 29,720 |
Chipotle Mexican Grill, Inc. * | 303 | 16,459 |
Choice Hotels International, Inc. | 9 | 1,147 |
Expedia Group, Inc. * | 28 | 3,575 |
McDonald's Corp. | 145 | 38,483 |
Planet Fitness, Inc., Class A * | 19 | 1,400 |
Wendy's Co. (The) | 48 | 813 |
Yum! Brands, Inc. | 62 | 8,235 |
113,230 | ||
Household Durables — 0.5% | ||
DR Horton, Inc. | 66 | 11,876 |
Lennar Corp., Class A | 55 | 9,731 |
PulteGroup, Inc. | 46 | 6,072 |
27,679 | ||
Household Products — 1.5% | ||
Church & Dwight Co., Inc. | 54 | 5,293 |
Clorox Co. (The) | 27 | 3,562 |
Colgate-Palmolive Co. | 180 | 17,854 |
Procter & Gamble Co. (The) | 361 | 58,034 |
84,743 | ||
Independent Power and Renewable Electricity Producers — 0.0% ^ | ||
Clearway Energy, Inc., Class C | 31 | 827 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Industrial REITs — 0.5% | ||
Prologis, Inc. | 205 | 25,840 |
Rexford Industrial Realty, Inc. | 44 | 2,205 |
STAG Industrial, Inc. | 40 | 1,633 |
29,678 | ||
Insurance — 2.9% | ||
Aflac, Inc. | 127 | 12,113 |
American International Group, Inc. | 149 | 11,805 |
Aon plc, Class A | 44 | 14,454 |
Arch Capital Group Ltd. * | 80 | 7,662 |
Arthur J Gallagher & Co. | 48 | 13,608 |
Axis Capital Holdings Ltd. | 12 | 909 |
Brighthouse Financial, Inc. * | 23 | 1,147 |
Chubb Ltd. | 90 | 24,809 |
Everest Group Ltd. | 9 | 3,536 |
Marsh & McLennan Cos., Inc. | 1 | 223 |
MetLife, Inc. | 132 | 10,144 |
Primerica, Inc. | 9 | 2,266 |
Progressive Corp. (The) | 130 | 27,836 |
Prudential Financial, Inc. | 80 | 10,026 |
Reinsurance Group of America, Inc. | 15 | 3,382 |
RenaissanceRe Holdings Ltd. (Bermuda) | 11 | 2,551 |
Travelers Cos., Inc. (The) | 51 | 11,038 |
WR Berkley Corp. | 69 | 3,804 |
161,313 | ||
Interactive Media & Services — 5.4% | ||
Alphabet, Inc., Class A | 1,105 | 189,552 |
Match Group, Inc. * | 46 | 1,754 |
Meta Platforms, Inc., Class A | 216 | 102,563 |
Pinterest, Inc., Class A * | 131 | 4,185 |
ZoomInfo Technologies, Inc. * | 60 | 682 |
298,736 | ||
IT Services — 1.4% | ||
Accenture plc, Class A (Ireland) | 127 | 41,989 |
Cloudflare, Inc., Class A * | 66 | 5,115 |
EPAM Systems, Inc. * | 11 | 2,367 |
Gartner, Inc. * | 17 | 8,520 |
Globant SA * | 9 | 1,752 |
International Business Machines Corp. | 36 | 6,917 |
MongoDB, Inc. * | 15 | 3,785 |
Okta, Inc. * | 34 | 3,194 |
Twilio, Inc., Class A * | 31 | 1,833 |
75,472 | ||
Leisure Products — 0.1% | ||
Hasbro, Inc. | 37 | 2,385 |
YETI Holdings, Inc. * | 19 | 786 |
3,171 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Life Sciences Tools & Services — 1.1% | ||
Agilent Technologies, Inc. | 65 | 9,191 |
Danaher Corp. | 50 | 13,854 |
IQVIA Holdings, Inc. * | 40 | 9,849 |
Mettler-Toledo International, Inc. * | 5 | 7,605 |
Repligen Corp. * | 9 | 1,506 |
Thermo Fisher Scientific, Inc. | 23 | 14,107 |
Waters Corp. * | 13 | 4,372 |
60,484 | ||
Machinery — 2.8% | ||
Caterpillar, Inc. | 106 | 36,697 |
CNH Industrial NV | 231 | 2,460 |
Deere & Co. | 56 | 20,831 |
Dover Corp. | 30 | 5,528 |
Flowserve Corp. | 29 | 1,466 |
Graco, Inc. | 37 | 3,147 |
IDEX Corp. | 17 | 3,544 |
Illinois Tool Works, Inc. | 66 | 16,321 |
Ingersoll Rand, Inc. | 90 | 9,036 |
Middleby Corp. (The) * | 12 | 1,627 |
Nordson Corp. | 13 | 3,254 |
Otis Worldwide Corp. | 89 | 8,411 |
PACCAR, Inc. | 114 | 11,247 |
Parker-Hannifin Corp. | 28 | 15,712 |
Snap-on, Inc. | 11 | 3,157 |
Westinghouse Air Brake Technologies Corp. | 39 | 6,285 |
Xylem, Inc. | 54 | 7,209 |
155,932 | ||
Media — 0.6% | ||
Comcast Corp., Class A | 512 | 21,130 |
Fox Corp., Class A | 81 | 3,081 |
Interpublic Group of Cos., Inc. (The) | 83 | 2,670 |
Liberty Media Corp-Liberty SiriusXM * | 61 | 1,373 |
Omnicom Group, Inc. | 43 | 4,216 |
Sirius XM Holdings, Inc. | 260 | 897 |
33,367 | ||
Metals & Mining — 0.3% | ||
Newmont Corp. | 255 | 12,513 |
Royal Gold, Inc. | 15 | 2,072 |
Southern Copper Corp. (Mexico) | 15 | 1,599 |
16,184 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.1% | ||
AGNC Investment Corp. | 153 | 1,531 |
Annaly Capital Management, Inc. | 93 | 1,852 |
Starwood Property Trust, Inc. | 45 | 898 |
4,281 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Multi-Utilities — 0.6% | ||
CenterPoint Energy, Inc. | 140 | 3,885 |
Consolidated Edison, Inc. | 77 | 7,509 |
NiSource, Inc. | 95 | 2,969 |
Public Service Enterprise Group, Inc. | 111 | 8,855 |
Sempra | 140 | 11,208 |
34,426 | ||
Office REITs — 0.0% ^ | ||
BXP, Inc. | 35 | 2,496 |
Oil, Gas & Consumable Fuels — 3.2% | ||
Antero Resources Corp. * | 74 | 2,147 |
Chevron Corp. | 106 | 17,010 |
ConocoPhillips | 260 | 28,912 |
Diamondback Energy, Inc. | 39 | 7,890 |
EOG Resources, Inc. | 58 | 7,354 |
Exxon Mobil Corp. | 651 | 77,202 |
Hess Corp. | 60 | 9,205 |
New Fortress Energy, Inc. | 25 | 494 |
ONEOK, Inc. | 129 | 10,750 |
Targa Resources Corp. | 48 | 6,493 |
Williams Cos., Inc. (The) | 269 | 11,551 |
179,008 | ||
Personal Care Products — 0.2% | ||
Coty, Inc., Class A * | 124 | 1,234 |
elf Beauty, Inc. * | 12 | 2,071 |
Estee Lauder Cos., Inc. (The), Class A | 51 | 5,080 |
8,385 | ||
Pharmaceuticals — 2.7% | ||
Eli Lilly & Co. | 113 | 90,883 |
Johnson & Johnson | 191 | 30,149 |
Merck & Co., Inc. | 194 | 21,947 |
Pfizer, Inc. | 217 | 6,627 |
149,606 | ||
Professional Services — 1.2% | ||
Automatic Data Processing, Inc. | 91 | 23,898 |
Booz Allen Hamilton Holding Corp. | 28 | 4,013 |
Dayforce, Inc. * | 41 | 2,431 |
Dun & Bradstreet Holdings, Inc. | 35 | 381 |
Equifax, Inc. | 27 | 7,543 |
FTI Consulting, Inc. * | 9 | 1,962 |
Genpact Ltd. | 41 | 1,421 |
ManpowerGroup, Inc. | 8 | 613 |
Paychex, Inc. | 71 | 9,089 |
Paylocity Holding Corp. * | 10 | 1,501 |
Robert Half, Inc. | 18 | 1,155 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Professional Services — continued | ||
TransUnion | 43 | 3,881 |
Verisk Analytics, Inc. | 32 | 8,376 |
66,264 | ||
Real Estate Management & Development — 0.4% | ||
CBRE Group, Inc., Class A * | 68 | 7,664 |
CoStar Group, Inc. * | 90 | 7,022 |
Jones Lang LaSalle, Inc. * | 10 | 2,509 |
Zillow Group, Inc., Class C * | 44 | 2,143 |
19,338 | ||
Residential REITs — 0.3% | ||
American Homes 4 Rent, Class A | 71 | 2,563 |
AvalonBay Communities, Inc. | 33 | 6,762 |
Equity LifeStyle Properties, Inc. | 29 | 1,992 |
Essex Property Trust, Inc. | 14 | 3,897 |
UDR, Inc. | 73 | 2,925 |
18,139 | ||
Retail REITs — 0.6% | ||
Brixmor Property Group, Inc. | 66 | 1,681 |
Federal Realty Investment Trust | 15 | 1,675 |
Kimco Realty Corp. | 146 | 3,172 |
Realty Income Corp. | 190 | 10,912 |
Regency Centers Corp. | 40 | 2,693 |
Simon Property Group, Inc. | 72 | 11,048 |
31,181 | ||
Semiconductors & Semiconductor Equipment — 10.5% | ||
Advanced Micro Devices, Inc. * | 282 | 40,743 |
Analog Devices, Inc. | 7 | 1,620 |
Applied Materials, Inc. | 161 | 34,164 |
Broadcom, Inc. | 590 | 94,801 |
Enphase Energy, Inc. * | 36 | 4,144 |
First Solar, Inc. * | 24 | 5,184 |
Intel Corp. | 115 | 3,535 |
KLA Corp. | 30 | 24,692 |
Lam Research Corp. | 4 | 3,685 |
Lattice Semiconductor Corp. * | 25 | 1,325 |
Marvell Technology, Inc. | 189 | 12,659 |
Micron Technology, Inc. | 47 | 5,162 |
MKS Instruments, Inc. | 15 | 1,889 |
NVIDIA Corp. | 2,767 | 323,794 |
Onto Innovation, Inc. * | 11 | 2,104 |
QUALCOMM, Inc. | 74 | 13,390 |
Texas Instruments, Inc. | 44 | 8,968 |
Universal Display Corp. | 10 | 2,226 |
584,085 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — 11.4% | ||
Adobe, Inc. * | 81 | 44,684 |
ANSYS, Inc. * | 19 | 5,959 |
Atlassian Corp., Class A * | 35 | 6,180 |
Autodesk, Inc. * | 48 | 11,881 |
Bentley Systems, Inc., Class B | 31 | 1,511 |
Cadence Design Systems, Inc. * | 61 | 16,327 |
Confluent, Inc., Class A * | 41 | 1,026 |
Datadog, Inc., Class A * | 66 | 7,685 |
Dolby Laboratories, Inc., Class A | 13 | 1,024 |
DoubleVerify Holdings, Inc. * | 43 | 908 |
Fortinet, Inc. * | 140 | 8,126 |
Gen Digital, Inc. | 124 | 3,223 |
Guidewire Software, Inc. * | 18 | 2,701 |
HubSpot, Inc. * | 11 | 5,467 |
Intuit, Inc. | 58 | 37,546 |
Microsoft Corp. | 797 | 333,425 |
Oracle Corp. | 96 | 13,387 |
Palantir Technologies, Inc., Class A * | 444 | 11,939 |
Palo Alto Networks, Inc. * | 68 | 22,082 |
Pegasystems, Inc. | 3 | 209 |
PTC, Inc. * | 26 | 4,624 |
Roper Technologies, Inc. | 24 | 13,074 |
Salesforce, Inc. | 56 | 14,493 |
ServiceNow, Inc. * | 45 | 36,648 |
Synopsys, Inc. * | 34 | 18,983 |
Tyler Technologies, Inc. * | 9 | 5,113 |
UiPath, Inc., Class A * | 85 | 1,034 |
Unity Software, Inc. * | 75 | 1,227 |
Zscaler, Inc. * | 7 | 1,255 |
631,741 | ||
Specialized REITs — 0.7% | ||
Crown Castle, Inc. | 96 | 10,568 |
CubeSmart | 47 | 2,236 |
Extra Space Storage, Inc. | 46 | 7,343 |
Public Storage | 35 | 10,357 |
Rayonier, Inc. | 27 | 819 |
SBA Communications Corp. | 24 | 5,269 |
36,592 | ||
Specialty Retail — 1.8% | ||
AutoZone, Inc. * | 2 | 6,267 |
Bath & Body Works, Inc. | 44 | 1,617 |
CarMax, Inc. * | 35 | 2,955 |
Floor & Decor Holdings, Inc., Class A * | 23 | 2,254 |
GameStop Corp., Class A * | 59 | 1,337 |
Home Depot, Inc. (The) | 157 | 57,801 |
Lithia Motors, Inc., Class A | 5 | 1,382 |
Lowe's Cos., Inc. | 15 | 3,683 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Specialty Retail — continued | ||
Penske Automotive Group, Inc. | 5 | 871 |
Ross Stores, Inc. | 26 | 3,724 |
TJX Cos., Inc. (The) | 27 | 3,052 |
Tractor Supply Co. | 24 | 6,320 |
Ulta Beauty, Inc. * | 11 | 4,014 |
Valvoline, Inc. * | 35 | 1,627 |
Wayfair, Inc., Class A * | 17 | 925 |
Williams-Sonoma, Inc. | 28 | 4,331 |
102,160 | ||
Technology Hardware, Storage & Peripherals — 7.0% | ||
Apple, Inc. | 1,690 | 375,315 |
Pure Storage, Inc., Class A * | 64 | 3,836 |
Super Micro Computer, Inc. * | 11 | 7,718 |
386,869 | ||
Textiles, Apparel & Luxury Goods — 0.8% | ||
Capri Holdings Ltd. * | 28 | 939 |
Columbia Sportswear Co. | 6 | 490 |
Crocs, Inc. * | 13 | 1,747 |
Deckers Outdoor Corp. * | 6 | 5,536 |
Lululemon Athletica, Inc. * | 27 | 6,984 |
NIKE, Inc., Class B | 267 | 19,987 |
Ralph Lauren Corp. | 10 | 1,756 |
Skechers U.S.A., Inc., Class A * | 30 | 1,954 |
Tapestry, Inc. | 48 | 1,924 |
VF Corp. | 77 | 1,306 |
42,623 | ||
Trading Companies & Distributors — 0.6% | ||
Air Lease Corp. | 23 | 1,141 |
Ferguson plc | 45 | 10,019 |
United Rentals, Inc. | 15 | 11,357 |
WESCO International, Inc. | 12 | 2,100 |
WW Grainger, Inc. | 10 | 9,768 |
34,385 | ||
Water Utilities — 0.2% | ||
American Water Works Co., Inc. | 43 | 6,122 |
Essential Utilities, Inc. | 56 | 2,276 |
8,398 | ||
Total Common Stocks (Cost $5,050,754) | 5,552,433 |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)INVESTMENTS | SHARES | VALUE($) |
Short-Term Investments — 0.0% ^ | ||
Investment Companies — 0.0% ^ | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (a) (b) (Cost $3,893) | 3,893 | 3,893 |
Total Investments — 99.9% (Cost $5,054,647) | 5,556,326 | |
Other Assets Less Liabilities — 0.1% | 3,262 | |
NET ASSETS — 100.0% | 5,559,588 |
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) | 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 July 31, 2024. |
JPMorgan Carbon Transition U.S. Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 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 Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset value ("NAV") of the Fund is calculated on a valuation date.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.
•
Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.
•
Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.
•
Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”):
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $5,556,326 | $— | $— | $5,556,326 |
(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 July 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 July 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 July 31, 2024 | Shares at July 31, 2024 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (a) (b) | $10,503 | $142,525 | $149,135 | $— | $— | $3,893 | 3,893 | $448 | $— |
(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 July 31, 2024. |