0001752724-24-073160.txt : 20240328 0001752724-24-073160.hdr.sgml : 20240328 20240328111458 ACCESSION NUMBER: 0001752724-24-073160 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240131 FILED AS OF DATE: 20240328 DATE AS OF CHANGE: 20240328 PERIOD START: 20241031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: J.P. Morgan Exchange-Traded Fund Trust CENTRAL INDEX KEY: 0001485894 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-22903 FILM NUMBER: 24795392 BUSINESS ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 BUSINESS PHONE: (800) 480-4111 MAIL ADDRESS: STREET 1: 277 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10172 0001485894 S000059314 JPMorgan U.S. Value Factor ETF C000194673 JPMorgan U.S. Value Factor ETF JVAL NPORT-P 1 primary_doc.xml NPORT-P false 0001485894 XXXXXXXX S000059314 C000194673 J.P. 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KDTEY8BWE486IKZ3CC07 PACCAR, Inc. 693718108 30635.00000000 NS USD 3075447.65000000 0.415881560097 Long EC CORP US N 1 N N N WESCO International, Inc. 529900TXOGREY3WNJ434 WESCO International, Inc. 95082P105 6373.00000000 NS USD 1105842.96000000 0.149539107072 Long EC CORP US N 1 N N N NetApp, Inc. QTX3D84DZDD5JYOCYH15 NetApp, Inc. 64110D104 21653.00000000 NS USD 1888141.60000000 0.255326496711 Long EC CORP US N 1 N N N Qorvo, Inc. 254900YAUJV2EUEVBR11 Qorvo, Inc. 74736K101 12520.00000000 NS USD 1248744.80000000 0.168863201293 Long EC CORP US N 1 N N N FNB Corp. PCYSKIGYNYFDTBLVZU83 FNB Corp. 302520101 99264.00000000 NS USD 1308299.52000000 0.176916568699 Long EC CORP US N 1 N N N Allison Transmission Holdings, Inc. 529900RP7DJ882LI9T83 Allison Transmission Holdings, Inc. 01973R101 28335.00000000 NS USD 1715400.90000000 0.231967402366 Long EC CORP US N 1 N N N American International Group, Inc. 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SYRPI2D1O9WRTS2WX210 CACI International, Inc., Class A 127190304 4971.00000000 NS USD 1708681.83000000 0.231058807055 Long EC CORP US N 1 N N N FedEx Corp. 549300E707U7WNPZN687 FedEx Corp. 31428X106 12249.00000000 NS USD 2955561.21000000 0.399669754411 Long EC CORP US N 1 N N N Dover Corp. 549300FMC2ALGA7N9E80 Dover Corp. 260003108 11859.00000000 NS USD 1776241.02000000 0.240194589723 Long EC CORP US N 1 N N N Medical Properties Trust, Inc. 254900U6E39J1MQCCY14 Medical Properties Trust, Inc. 58463J304 129891.00000000 NS USD 402662.10000000 0.054450526036 Long EC CORP US N 1 N N Avangrid, Inc. 549300OX0Q38NLSKPB49 Avangrid, Inc. 05351W103 18178.00000000 NS USD 552247.64000000 0.074678432612 Long EC CORP US N 1 N N Parker-Hannifin Corp. 5493002CONDB4N2HKI23 Parker-Hannifin Corp. 701094104 7078.00000000 NS USD 3287731.00000000 0.444587862668 Long EC CORP US N 1 N N N Highwoods Properties, Inc. ZIIGTYKL9T0X3HLTDX53 Highwoods Properties, Inc. 431284108 59908.00000000 NS USD 1376086.76000000 0.186083189736 Long EC CORP US N 1 N N PVH Corp. 123WALMHY1GZXG2YDL90 PVH Corp. 693656100 15881.00000000 NS USD 1909849.06000000 0.258261917293 Long EC CORP US N 1 N N N Cirrus Logic, Inc. 549300NKSJEM5ZZSSV18 Cirrus Logic, Inc. 172755100 20028.00000000 NS USD 1546161.60000000 0.209081789563 Long EC CORP US N 1 N N N Kinder Morgan, Inc. 549300WR7IX8XE0TBO16 Kinder Morgan, Inc. 49456B101 131647.00000000 NS USD 2227467.24000000 0.301212264444 Long EC CORP US N 1 N N N Paycom Software, Inc. 254900LSB0HNJUDC6Q18 Paycom Software, Inc. 70432V102 9068.00000000 NS USD 1725096.32000000 0.233278478624 Long EC CORP US N 1 N N N Leidos Holdings, Inc. 549300IUTGTP6EJP8124 Leidos Holdings, Inc. 525327102 16935.00000000 NS USD 1870809.45000000 0.252982733330 Long EC CORP US N 1 N N N Crane Co. 5493000CQRQOTHUODL75 Crane Co. 224408104 3122.00000000 NS USD 387471.42000000 0.052396345827 Long EC CORP US N 1 N N N Bath & Body Works, Inc. GR3KVMWVCR54YWQNXU90 Bath & Body Works, Inc. 070830104 26937.00000000 NS USD 1149132.42000000 0.155392982738 Long EC CORP US N 1 N N PulteGroup, Inc. N/A PulteGroup, Inc. 745867101 21796.00000000 NS USD 2278989.76000000 0.308179466763 Long EC CORP US N 1 N N N Dominion Energy, Inc. ILUL7B6Z54MRYCF6H308 Dominion Energy, Inc. 25746U109 7463.00000000 NS USD 341208.36000000 0.046140361087 Long EC CORP US N 1 N N N Leggett & Platt, Inc. DKOVQUCDW4ZLYCUD4T55 Leggett & Platt, Inc. 524660107 62550.00000000 NS USD 1451785.50000000 0.196319654040 Long EC CORP US N 1 N N N CVS Health Corp. 549300EJG376EN5NQE29 CVS Health Corp. 126650100 59111.00000000 NS USD 4396085.07000000 0.594466537980 Long EC CORP US N 1 N N N Silgan Holdings, Inc. KAF673KJXD92C8KSLU49 Silgan Holdings, Inc. 827048109 24907.00000000 NS USD 1144227.58000000 0.154729719128 Long EC CORP US N 1 N N N BorgWarner, Inc. 549300DSFX2IE88NSX47 BorgWarner, Inc. 099724106 34422.00000000 NS USD 1166905.80000000 0.157796412041 Long EC CORP US N 1 N N N Pioneer Natural Resources Co. FY8JBF7CCL2VE4F1B628 Pioneer Natural Resources Co. 723787107 13106.00000000 NS USD 3012151.98000000 0.407322317677 Long EC CORP US N 1 N N N Entergy Corp. 4XM3TW50JULSLG8BNC79 Entergy Corp. 29364G103 20222.00000000 NS USD 2017346.72000000 0.272798433480 Long EC CORP US N 1 N N N Webster Financial Corp. KMRURHT0VWKYS6Z5KU67 Webster Financial Corp. 947890109 20430.00000000 NS USD 1010876.40000000 0.136697125798 Long EC CORP US N 1 N N N QUALCOMM, Inc. H1J8DDZKZP6H7RWC0H53 QUALCOMM, Inc. 747525103 44389.00000000 NS USD 6592210.39000000 0.891440548983 Long EC CORP US N 1 N N N Lam Research Corp. 549300I4GMO6D34U1T02 Lam Research Corp. 512807108 5929.00000000 NS USD 4892432.93000000 0.661585847381 Long EC CORP US N 1 N N N First Hawaiian, Inc. 5493002DJSH46F5OLV06 First Hawaiian, Inc. 32051X108 39025.00000000 NS USD 846452.25000000 0.114462648154 Long EC CORP US N 1 N N N Fortune Brands Innovations, Inc. 54930032LHW54PQUJD44 Fortune Brands Innovations, Inc. 34964C106 13473.00000000 NS USD 1045370.07000000 0.141361578887 Long EC CORP US N 1 N N N Mosaic Co. (The) 2YD5STGSJNMUB7H76907 Mosaic Co. (The) 61945C103 39971.00000000 NS USD 1227509.41000000 0.165991617014 Long EC CORP US N 1 N N N Centene Corp. 549300Z7JJ4TQSQGT333 Centene Corp. 15135B101 26837.00000000 NS USD 2021094.47000000 0.273305228033 Long EC CORP US N 1 N N N M&T Bank Corp. 549300WYXDDBYRASEG81 M&T Bank Corp. 55261F104 10008.00000000 NS USD 1382104.80000000 0.186896987319 Long EC CORP US N 1 N N N Ford Motor Co. 20S05OYHG0MQM4VUIC57 Ford Motor Co. 345370860 251804.00000000 NS USD 2951142.88000000 0.399072279772 Long EC CORP US N 1 N N N Citizens Financial Group, Inc. 2138004JDDA4ZQUPFW65 Citizens Financial Group, Inc. 174610105 62366.00000000 NS USD 2039368.20000000 0.275776317841 Long EC CORP US N 1 N N N Berry Global Group, Inc. 549300G6KKUMMXM8NH73 Berry Global Group, Inc. 08579W103 24480.00000000 NS USD 1602460.80000000 0.216694924883 Long EC CORP US N 1 N N N Vail Resorts, Inc. 529900PSZHRNU9HKH870 Vail Resorts, Inc. 91879Q109 3893.00000000 NS USD 864246.00000000 0.116868832018 Long EC CORP US N 1 N N N Brixmor Property Group, Inc. 5299007UXW6Y0W2EGZ95 Brixmor Property Group, Inc. 11120U105 2200.00000000 NS USD 49368.00000000 0.006675854443 Long EC CORP US N 1 N N N Packaging Corp. of America 549300XZP8MFZFY8TJ84 Packaging Corp. of America 695156109 10907.00000000 NS USD 1809253.16000000 0.244658700918 Long EC CORP US N 1 N N N Texas Instruments, Inc. WDJNR2L6D8RWOEB8T652 Texas Instruments, Inc. 882508104 36366.00000000 NS USD 5822923.92000000 0.787412747598 Long EC CORP US N 1 N N N Clarivate plc 549300WDHIIODXFO0R55 Clarivate plc N/A 188423.00000000 NS USD 1684501.62000000 0.227789005516 Long EC CORP JE N 1 N N Salesforce, Inc. RCGZFPDMRW58VJ54VR07 Salesforce, Inc. 79466L302 32458.00000000 NS USD 9123619.22000000 1.233753725234 Long EC CORP US N 1 N N N Fidelity National Information Services, Inc. 6WQI0GK1PRFVBA061U48 Fidelity National Information Services, Inc. 31620M106 12187.00000000 NS USD 758762.62000000 0.102604699562 Long EC CORP US N 1 N N N Garmin Ltd. 2549001E0HIPIJQ0W046 Garmin Ltd. N/A 15934.00000000 NS USD 1903953.66000000 0.257464703869 Long EC CORP CH N 1 N N N DR Horton, Inc. 529900ZIUEYVSB8QDD25 DR Horton, Inc. 23331A109 20191.00000000 NS USD 2885495.81000000 0.390195066112 Long EC CORP US N 1 N N N Sirius XM Holdings, Inc. 54930055RWDMVXAGZK98 Sirius XM Holdings, Inc. 82968B103 185642.00000000 NS USD 944917.78000000 0.127777782369 Long EC CORP US N 1 N N Victoria's Secret & Co. 5493006T3O70U3UWVF17 Victoria's Secret & Co. 926400102 36640.00000000 NS USD 954472.00000000 0.129069764666 Long EC CORP US N 1 N N N National Fuel Gas Co. 8JB38FFW1Y3C1HM8E841 National Fuel Gas Co. 636180101 18391.00000000 NS USD 867319.56000000 0.117284458318 Long EC CORP US N 1 N N N Sensata Technologies Holding plc 529900MS7KFYCY9MS037 Sensata Technologies Holding plc N/A 46714.00000000 NS USD 1689645.38000000 0.228484577406 Long EC CORP GB N 1 N N N H&R Block, Inc. 549300CE3KUCWLZBG404 H&R Block, Inc. 093671105 34627.00000000 NS USD 1621928.68000000 0.219327495236 Long EC CORP US N 1 N N Service Corp. International 549300RKVM2ME20JHZ15 Service Corp. International 817565104 25122.00000000 NS USD 1686188.64000000 0.228017135073 Long EC CORP US N 1 N N N Jefferies Financial Group, Inc. 549300HOF34RGOJ5YL07 Jefferies Financial Group, Inc. 47233W109 41066.00000000 NS USD 1673850.16000000 0.226348647459 Long EC CORP US N 1 N N N Monolithic Power Systems, Inc. 529900TB7O85LSZ1XU31 Monolithic Power Systems, Inc. 609839105 2601.00000000 NS USD 1567674.72000000 0.211990930256 Long EC CORP US N 1 N N N eBay, Inc. OML71K8X303XQONU6T67 eBay, Inc. 278642103 45123.00000000 NS USD 1853201.61000000 0.250601689397 Long EC CORP US N 1 N N N Best Buy Co., Inc. HL5XPTVRV0O8TUN5LL90 Best Buy Co., Inc. 086516101 22845.00000000 NS USD 1656034.05000000 0.223939439934 Long EC CORP US N 1 N N N 2024-03-01 J.P. Morgan Exchange-Traded Fund Trust Timothy J. Clemens Timothy J. Clemens Treasurer and Principal Financial Officer XXXX NPORT-EX 2 JPMUSVFETF.htm NPORT PART F EDGAR HTML
JPMorgan U.S. Value Factor 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 U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited)
 
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — 99.8%
Aerospace & Defense — 1.5%
General Dynamics Corp.
10,226
2,709,788
Huntington Ingalls Industries, Inc.
6,920
1,791,726
L3Harris Technologies, Inc.
9,667
2,014,796
RTX Corp.
31,899
2,906,637
Textron, Inc.
17,069
1,445,915
 
10,868,862
Automobiles & Parts — 2.0%
Aptiv plc *
15,471
1,258,256
BorgWarner, Inc.
33,799
1,145,786
Ford Motor Co.
247,226
2,897,489
General Motors Co.
70,217
2,724,420
Gentex Corp.
48,834
1,617,870
Genuine Parts Co.
11,924
1,672,103
Lear Corp.
10,216
1,357,706
LKQ Corp.
32,913
1,536,050
Phinia, Inc.
22,349
675,834
 
14,885,514
Banks — 5.0%
Bank of America Corp.
44,900
1,527,049
Bank OZK
18,443
831,964
BOK Financial Corp.
6,447
540,517
Citigroup, Inc.
85,793
4,818,993
Citizens Financial Group, Inc.
61,232
2,002,287
Columbia Banking System, Inc.
29,670
598,147
Comerica, Inc.
18,210
957,482
Fifth Third Bancorp
52,405
1,794,347
First Hawaiian, Inc.
38,318
831,118
First Horizon Corp.
68,247
971,837
FNB Corp.
97,458
1,284,497
Huntington Bancshares, Inc.
126,218
1,606,755
KeyCorp
87,176
1,266,667
M&T Bank Corp.
9,826
1,356,971
New York Community Bancorp, Inc.
150,545
974,026
PNC Financial Services Group, Inc. (The)
4,929
745,314
Popular, Inc. (Puerto Rico)
19,407
1,658,328
Prosperity Bancshares, Inc.
13,813
882,789
Regions Financial Corp.
80,820
1,508,909
Synovus Financial Corp.
30,847
1,161,698
Truist Financial Corp.
80,922
2,998,969
US Bancorp
64,319
2,671,811
Webster Financial Corp.
20,059
992,519
Western Alliance Bancorp
18,492
1,182,748
Zions Bancorp NA
23,388
979,957
 
36,145,699
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Beverages — 0.3%
Keurig Dr Pepper, Inc.
29,174
917,230
Molson Coors Beverage Co., Class B
25,611
1,582,504
 
2,499,734
Chemicals — 0.8%
Dow, Inc.
39,545
2,119,612
Huntsman Corp.
10,965
269,081
LyondellBasell Industries NV, Class A
21,014
1,977,838
Mosaic Co. (The)
39,243
1,205,152
 
5,571,683
Construction & Materials — 1.1%
Acuity Brands, Inc.
4,909
1,169,127
Builders FirstSource, Inc. *
12,794
2,222,702
Fortune Brands Innovations, Inc.
13,228
1,026,361
Louisiana-Pacific Corp.
9,837
654,652
MDU Resources Group, Inc.
39,869
777,844
Owens Corning
12,493
1,893,064
 
7,743,750
Consumer Services — 0.7%
eBay, Inc.
44,304
1,819,565
Grand Canyon Education, Inc. *
157
20,503
H&R Block, Inc. (a)
33,997
1,592,420
Service Corp. International
24,667
1,655,649
U-Haul Holding Co. * (a)
4,921
326,065
 
5,414,202
Electricity — 2.1%
Avangrid, Inc. (a)
17,849
542,253
Brookfield Renewable Corp.
15,173
423,630
Clearway Energy, Inc., Class C
27,101
656,928
Consolidated Edison, Inc.
25,445
2,312,951
Dominion Energy, Inc.
7,330
335,128
Entergy Corp.
19,858
1,981,034
Evergy, Inc.
33,456
1,698,561
Eversource Energy
19,113
1,036,307
Hawaiian Electric Industries, Inc.
109,685
1,422,614
OGE Energy Corp.
44,600
1,482,504
Pinnacle West Capital Corp.
21,642
1,491,134
PPL Corp.
68,847
1,803,791
 
15,186,835
Electronic & Electrical Equipment — 1.3%
Crane Co.
3,066
380,521
Crane NXT Co.
15,805
921,116
Johnson Controls International plc
37,042
1,951,743
nVent Electric plc
28,935
1,737,258
Pentair plc
24,061
1,760,543
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Electronic & Electrical Equipment — continued
Sensata Technologies Holding plc
45,867
1,659,009
WESCO International, Inc.
6,254
1,085,194
 
9,495,384
Finance & Credit Services — 0.7%
Ally Financial, Inc.
48,592
1,782,355
MGIC Investment Corp.
85,628
1,698,859
OneMain Holdings, Inc.
30,623
1,457,655
 
4,938,869
Food Producers — 2.3%
Archer-Daniels-Midland Co.
33,474
1,860,485
Bunge Global SA
4,732
416,842
Campbell Soup Co.
35,349
1,577,626
Conagra Brands, Inc.
62,092
1,809,982
General Mills, Inc.
35,095
2,278,016
Ingredion, Inc.
8,829
949,736
J M Smucker Co. (The)
11,928
1,569,128
Kellanova
18,202
996,742
Kraft Heinz Co. (The)
62,922
2,336,294
Post Holdings, Inc. *
9,368
870,006
Tyson Foods, Inc., Class A
25,733
1,409,139
US Foods Holding Corp. *
11,510
529,575
 
16,603,571
Gas, Water & Multi-utilities — 0.3%
National Fuel Gas Co.
18,055
851,474
UGI Corp.
63,829
1,413,174
 
2,264,648
General Industrials — 2.7%
3M Co.
21,960
2,071,926
Amcor plc
186,120
1,755,111
Berry Global Group, Inc.
24,032
1,573,135
Dover Corp.
11,642
1,743,739
DuPont de Nemours, Inc.
31,836
1,967,465
Graphic Packaging Holding Co.
68,475
1,746,797
Packaging Corp. of America
10,711
1,776,740
Parker-Hannifin Corp.
6,952
3,229,204
Silgan Holdings, Inc.
24,452
1,123,325
Sonoco Products Co.
12,213
694,920
WestRock Co.
40,395
1,626,303
 
19,308,665
Health Care Providers — 4.1%
Centene Corp. *
26,347
1,984,192
Cigna Group (The)
13,585
4,088,406
Elevance Health, Inc.
9,871
4,870,746
Encompass Health Corp.
11,046
784,708
Humana, Inc.
6,066
2,293,312
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Health Care Providers — continued
Premier, Inc., Class A
34,853
753,522
UnitedHealth Group, Inc.
25,193
12,892,266
Universal Health Services, Inc., Class B
11,152
1,771,049
 
29,438,201
Household Goods & Home Construction — 1.8%
DR Horton, Inc.
19,827
2,833,477
Leggett & Platt, Inc.
61,416
1,425,465
Lennar Corp., Class A
17,816
2,669,728
Newell Brands, Inc.
100,042
832,349
NVR, Inc. *
210
1,485,811
PulteGroup, Inc.
21,397
2,237,270
Toll Brothers, Inc.
18,815
1,869,270
 
13,353,370
Industrial Engineering — 2.1%
AGCO Corp.
13,542
1,656,593
Brunswick Corp.
18,582
1,499,196
Caterpillar, Inc.
17,583
5,280,351
CNH Industrial NV
151,531
1,818,372
Cummins, Inc.
10,350
2,476,755
Snap-on, Inc.
6,442
1,867,729
Stanley Black & Decker, Inc.
10,519
981,422
 
15,580,418
Industrial Materials — 0.2%
International Paper Co.
38,705
1,386,800
Industrial Metals & Mining — 0.9%
Cleveland-Cliffs, Inc. *
9,952
199,538
Nucor Corp.
15,136
2,829,372
Reliance Steel & Aluminum Co.
6,614
1,887,768
United States Steel Corp.
36,280
1,705,886
 
6,622,564
Industrial Support Services — 1.7%
ADT, Inc.
83,570
545,712
Capital One Financial Corp.
23,378
3,163,511
Fidelity National Information Services, Inc.
11,963
744,816
ManpowerGroup, Inc.
18,124
1,343,713
MSC Industrial Direct Co., Inc., Class A
15,414
1,521,054
NCR Atleos Corp. *
24,778
554,780
Robert Half, Inc.
11,942
949,867
Synchrony Financial
53,328
2,072,859
Western Union Co. (The)
128,576
1,616,200
 
12,512,512
Industrial Transportation — 2.4%
Allison Transmission Holdings, Inc.
27,817
1,684,041
FedEx Corp.
12,025
2,901,512
Knight-Swift Transportation Holdings, Inc.
27,393
1,571,811
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Industrial Transportation — continued
Norfolk Southern Corp.
10,918
2,568,351
Oshkosh Corp.
6,633
730,293
PACCAR, Inc. *
30,075
3,019,229
Ryder System, Inc.
13,986
1,588,390
Schneider National, Inc., Class B
26,721
655,199
Union Pacific Corp.
10,372
2,530,042
 
17,248,868
Investment Banking & Brokerage Services — 1.3%
Bank of New York Mellon Corp. (The) (a)
46,930
2,602,738
Franklin Resources, Inc.
50,276
1,338,850
Invesco Ltd.
77,699
1,229,975
Janus Henderson Group plc
36,650
1,054,054
Jefferies Financial Group, Inc.
40,317
1,643,321
State Street Corp.
24,481
1,808,411
 
9,677,349
Leisure Goods — 1.0%
Garmin Ltd.
15,647
1,869,660
Harley-Davidson, Inc.
47,650
1,546,242
Polaris, Inc.
9,299
836,538
Pool Corp. (a)
3,008
1,116,720
Thor Industries, Inc. (a)
14,792
1,671,792
 
7,040,952
Life Insurance — 1.0%
Corebridge Financial, Inc.
44,119
1,066,356
Principal Financial Group, Inc.
21,895
1,731,895
Prudential Financial, Inc.
24,196
2,538,886
Unum Group
34,234
1,654,872
 
6,992,009
Media — 1.6%
Fox Corp., Class A
48,836
1,577,403
Interpublic Group of Cos., Inc. (The)
44,834
1,479,074
Liberty Media Corp-Liberty SiriusXM *
36,886
1,119,859
News Corp., Class A
73,226
1,804,289
Nexstar Media Group, Inc.
10,197
1,812,109
Omnicom Group, Inc.
20,161
1,822,151
Paramount Global, Class B
78,011
1,138,180
Sirius XM Holdings, Inc. (a)
182,268
927,744
 
11,680,809
Medical Equipment & Services — 1.4%
Becton Dickinson & Co.
2,249
537,084
Laboratory Corp. of America Holdings
5,813
1,292,230
Medtronic plc
52,023
4,554,093
Quest Diagnostics, Inc.
13,283
1,705,936
QuidelOrtho Corp. *
303
20,758
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Medical Equipment & Services — continued
Revvity, Inc.
9,278
994,416
Zimmer Biomet Holdings, Inc.
10,922
1,371,803
 
10,476,320
Mortgage Real Estate Investment Trusts — 0.8%
AGNC Investment Corp. (a)
102,784
974,392
Annaly Capital Management, Inc.
78,241
1,501,445
Rithm Capital Corp.
144,295
1,543,957
Starwood Property Trust, Inc. (a)
71,791
1,459,511
 
5,479,305
Non-life Insurance — 1.6%
American International Group, Inc.
42,114
2,927,344
Assured Guaranty Ltd.
21,874
1,774,638
Axis Capital Holdings Ltd.
14,228
846,851
Fidelity National Financial, Inc.
38,194
1,910,846
First American Financial Corp.
24,849
1,499,637
Old Republic International Corp.
54,437
1,526,413
Reinsurance Group of America, Inc.
7,769
1,350,951
 
11,836,680
Non-Renewable Energy — 4.0%
Chesapeake Energy Corp. (a)
20,726
1,598,182
Chevron Corp.
36,306
5,352,594
Coterra Energy, Inc.
72,827
1,811,936
Diamondback Energy, Inc.
11,372
1,748,331
HF Sinclair Corp.
29,552
1,669,392
Kinder Morgan, Inc.
129,253
2,186,961
Marathon Oil Corp.
68,248
1,559,467
Marathon Petroleum Corp.
20,380
3,374,928
Ovintiv, Inc.
33,746
1,431,505
Phillips 66
23,863
3,443,669
Pioneer Natural Resources Co.
12,868
2,957,452
Valero Energy Corp.
13,094
1,818,757
 
28,953,174
Personal Care, Drug & Grocery Stores — 1.2%
Albertsons Cos., Inc., Class A
70,705
1,500,360
CVS Health Corp.
58,040
4,316,435
Kroger Co. (The)
44,594
2,057,567
Spectrum Brands Holdings, Inc. (a)
9,198
723,147
 
8,597,509
Personal Goods — 1.3%
Carter's, Inc.
20,617
1,559,470
Columbia Sportswear Co. (a)
9,660
765,652
Crocs, Inc. *
8,625
875,265
PVH Corp.
15,594
1,875,334
Ralph Lauren Corp.
11,456
1,645,883
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Personal Goods — continued
Tapestry, Inc.
48,761
1,891,439
VF Corp.
29,780
490,179
 
9,103,222
Pharmaceuticals, Biotechnology & Marijuana Producers — 6.2%
Amgen, Inc.
18,136
5,699,419
Bristol-Myers Squibb Co.
75,050
3,667,694
Fortrea Holdings, Inc. *
23,428
725,331
Gilead Sciences, Inc.
49,519
3,875,357
Johnson & Johnson
67,389
10,708,112
Maravai LifeSciences Holdings, Inc., Class A *
47,658
276,416
Merck & Co., Inc.
86,954
10,502,304
Organon & Co.
27,889
464,352
Perrigo Co. plc
23,188
743,871
Pfizer, Inc.
206,676
5,596,786
United Therapeutics Corp. *
5,731
1,230,904
Viatris, Inc.
149,849
1,763,723
 
45,254,269
Real Estate Investment & Services — 0.1%
Jones Lang LaSalle, Inc. *
2,363
418,393
Real Estate Investment Trusts — 2.6%
Brixmor Property Group, Inc.
2,158
48,426
Cousins Properties, Inc.
32,717
749,546
EPR Properties
32,832
1,453,473
Equity Residential
17,737
1,067,590
Gaming and Leisure Properties, Inc.
17,985
821,015
Highwoods Properties, Inc. (a)
58,816
1,351,004
Host Hotels & Resorts, Inc.
36,492
701,376
Kilroy Realty Corp.
28,114
1,005,357
Kimco Realty Corp.
76,991
1,555,218
Medical Properties Trust, Inc. (a)
127,532
395,349
NET Lease Office Properties (a)
5,329
132,053
NNN REIT, Inc.
21,375
862,267
Omega Healthcare Investors, Inc. (a)
48,405
1,403,745
Park Hotels & Resorts, Inc.
54,637
823,926
Regency Centers Corp.
14,676
919,745
Simon Property Group, Inc.
15,558
2,156,494
VICI Properties, Inc.
76,194
2,294,963
Vornado Realty Trust (a)
12,314
334,818
WP Carey, Inc.
12,701
786,954
 
18,863,319
Retailers — 3.9%
Advance Auto Parts, Inc.
14,263
953,482
AutoNation, Inc. *
9,274
1,295,207
Bath & Body Works, Inc. (a)
26,447
1,128,229
Best Buy Co., Inc.
22,432
1,626,096
Capri Holdings Ltd. *
21,618
1,053,661
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Retailers — continued
Dick's Sporting Goods, Inc. (a)
11,005
1,640,515
Gap, Inc. (The)
71,139
1,329,588
Home Depot, Inc. (The)
18,018
6,359,633
Kohl's Corp. (a)
43,891
1,130,632
Lithia Motors, Inc., Class A
5,069
1,494,595
Macy's, Inc.
88,194
1,613,068
Murphy USA, Inc.
2,883
1,016,315
Nordstrom, Inc. (a)
56,602
1,027,326
Penske Automotive Group, Inc. (a)
8,758
1,299,425
Target Corp.
17,646
2,454,206
Victoria's Secret & Co. *
35,975
937,149
Williams-Sonoma, Inc. (a)
8,911
1,723,298
 
28,082,425
Software & Computer Services — 17.1%
Akamai Technologies, Inc. *
16,233
2,000,393
Alphabet, Inc., Class A *
104,581
14,651,798
Amdocs Ltd.
19,503
1,788,035
ANSYS, Inc. *
4,714
1,545,391
AppLovin Corp., Class A *
35,659
1,466,655
CACI International, Inc., Class A *
4,880
1,677,402
Clarivate plc * (a)
185,000
1,653,900
Cognizant Technology Solutions Corp., Class A
34,639
2,671,360
Concentrix Corp. (a)
15,824
1,406,279
Dolby Laboratories, Inc., Class A
17,552
1,459,975
Dropbox, Inc., Class A *
55,358
1,753,741
Dun & Bradstreet Holdings, Inc.
134,341
1,557,012
DXC Technology Co. *
64,141
1,398,274
EPAM Systems, Inc. *
7,012
1,950,107
F5, Inc. *
9,686
1,779,318
Gen Digital, Inc.
77,794
1,826,603
Hewlett Packard Enterprise Co.
120,148
1,837,063
International Business Machines Corp.
35,416
6,504,503
Intuit, Inc.
10,453
6,599,292
KBR, Inc.
30,079
1,567,417
Leidos Holdings, Inc.
16,627
1,836,785
Maplebear, Inc. * (a)
16,590
405,957
Match Group, Inc. *
49,353
1,894,168
Meta Platforms, Inc., Class A *
42,479
16,572,757
Microsoft Corp.
36,844
14,648,438
NCR Voyix Corp. *
73,440
1,079,568
Okta, Inc. *
13,435
1,110,403
Oracle Corp.
57,310
6,401,527
Paycom Software, Inc.
8,900
1,693,136
PTC, Inc. *
9,801
1,770,551
Roper Technologies, Inc.
5,697
3,059,289
Salesforce, Inc. *
31,870
8,958,338
Science Applications International Corp.
13,026
1,662,899
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Software & Computer Services — continued
SS&C Technologies Holdings, Inc.
30,216
1,843,780
Teradata Corp. *
16,864
778,780
Zoom Video Communications, Inc., Class A *
27,049
1,747,636
ZoomInfo Technologies, Inc. *
100,162
1,606,598
 
124,165,128
Technology Hardware & Equipment — 15.5%
Allegro MicroSystems, Inc. (Japan) *
19,078
494,883
Amphenol Corp., Class A
32,289
3,264,418
Analog Devices, Inc.
22,267
4,283,280
Apple, Inc.
72,108
13,296,715
Applied Materials, Inc.
33,799
5,553,176
Arrow Electronics, Inc. *
13,103
1,456,399
Avnet, Inc.
31,635
1,433,066
Broadcom, Inc.
14,192
16,746,560
CDW Corp.
10,538
2,389,175
Cirrus Logic, Inc. *
19,664
1,518,061
Coherent Corp. *
39,785
1,891,379
Corning, Inc.
70,766
2,299,187
Entegris, Inc.
15,395
1,811,992
GLOBALFOUNDRIES, Inc. * (a)
15,212
836,356
HP, Inc.
72,754
2,088,767
Intel Corp.
156,004
6,720,652
IPG Photonics Corp. *
10,707
1,048,108
Jabil, Inc.
15,462
1,937,234
KLA Corp.
6,603
3,922,446
Lam Research Corp.
5,824
4,805,790
Marvell Technology, Inc.
51,528
3,488,446
Microchip Technology, Inc.
32,335
2,754,295
Monolithic Power Systems, Inc.
2,552
1,538,141
NetApp, Inc.
21,261
1,853,959
ON Semiconductor Corp. *
31,526
2,242,444
Qorvo, Inc. *
12,296
1,226,403
QUALCOMM, Inc.
43,584
6,472,660
Skyworks Solutions, Inc.
18,687
1,952,044
TD SYNNEX Corp.
15,469
1,546,591
Teradyne, Inc.
19,161
1,850,761
Texas Instruments, Inc.
35,708
5,717,565
Universal Display Corp.
9,176
1,557,810
Vertiv Holdings Co., Class A
40,928
2,305,474
 
112,304,237
Telecommunications Equipment — 0.9%
Cisco Systems, Inc.
125,567
6,300,952
Telecommunications Service Providers — 1.3%
AT&T, Inc.
263,810
4,666,799
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE ($)
Common Stocks — continued
Telecommunications Service Providers — continued
Comcast Corp., Class A
90,976
4,234,023
Verizon Communications, Inc.
21,435
907,772
 
9,808,594
Tobacco — 0.9%
Altria Group, Inc.
85,328
3,423,359
Philip Morris International, Inc.
37,547
3,411,145
 
6,834,504
Travel & Leisure — 2.1%
Aramark
30,597
889,761
Boyd Gaming Corp.
20,942
1,329,608
Caesars Entertainment, Inc. *
20,252
888,455
Darden Restaurants, Inc.
11,722
1,905,763
Delta Air Lines, Inc.
35,364
1,384,147
Marriott Vacations Worldwide Corp.
18,770
1,574,615
MGM Resorts International *
37,749
1,637,174
Penn Entertainment, Inc. * (a)
35,016
789,611
Travel + Leisure Co.
29,241
1,181,921
United Airlines Holdings, Inc. *
25,897
1,071,618
Vail Resorts, Inc.
3,823
848,706
Wendy's Co. (The)
62,575
1,193,931
Wyndham Hotels & Resorts, Inc.
11,713
912,794
 
15,608,104
Total Common Stocks
(Cost $698,817,172)
724,547,403
Short-Term Investments — 3.3%
Investment Companies — 0.1%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (b) (c)(Cost $908,234)
908,234
908,234
Investment of Cash Collateral from Securities Loaned — 3.2%
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.51% (b) (c)
18,289,275
18,296,591
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (b) (c)
5,135,079
5,135,079
Total Investment of Cash Collateral from Securities Loaned
(Cost $23,430,740)
23,431,670
Total Short-Term Investments
(Cost $24,338,974)
24,339,904
Total Investments — 103.1%
(Cost $723,156,146)
748,887,307
Liabilities in Excess of Other Assets — (3.1)%
(22,831,888
)
NET ASSETS — 100.0%
726,055,419
 
Percentages indicated are based on net assets.
 
*
Non-income producing security.
(a)
The security or a portion of this security is on loan at January 31, 2024. The total value of securities on loan at January 31, 2024 is $22,328,313.
(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.
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024  (Unaudited) (continued)
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
5
03/15/2024
USD
1,217,250
33,584
 
Abbreviations
 
USD
United States Dollar
JPMorgan U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 31, 2024 (Unaudited) (continued)
A. Valuation of Investments — Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.
Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations. 
This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset value (“NAV”) of the Fund is calculated on a valuation date.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Futures contracts are generally valued on the basis of available market quotations.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.
•
Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.
•
Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.
•
Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments. 
The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”): 
 
 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
Total Investments in Securities (a)
$748,887,307
$—
$—
$748,887,307
Appreciation in Other Financial Instruments
Futures Contracts (a)
$33,584
$—
$—
$33,584
 
 
(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 U.S. Value Factor ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF January 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 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 Securities Lending Money
Market Fund Agency SL
Class Shares, 5.51%  (a) (b)
$30,290,534
$26,000,000
$38,000,000
$4,928
$1,129
$18,296,591
18,289,275
$375,044
$—
JPMorgan U.S. Government Money
Market Fund Class IM Shares,
5.26%  (a) (b)
3,962,851
31,073,994
29,901,766
—
—
5,135,079
5,135,079
54,536
—
JPMorgan U.S. Government Money
Market Fund Class IM Shares,
5.26%  (a) (b)
841,596
10,621,710
10,555,072
—
—
908,234
908,234
25,164
—
Total
$35,094,981
$67,695,704
$78,456,838
$4,928
$1,129
$24,339,904
$454,744
$—
 
 
(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.