NPORT-EX 2 JPMBBUSSCE.htm EDGAR HTML
JPMorgan BetaBuilders U.S. Small Cap 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 BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited)
 
INVESTMENTS
SHARES
VALUE($)
Common Stocks — 98.3%
Aerospace & Defense — 1.4%
AAR Corp. *
11,927
770,484
AeroVironment, Inc. *
9,421
1,682,026
Cadre Holdings, Inc.
7,646
280,608
Kratos Defense & Security Solutions, Inc. *
49,732
1,120,959
Mercury Systems, Inc. *
18,202
647,081
Moog, Inc., Class A
9,708
1,903,739
Rocket Lab USA, Inc. * (a)
91,106
477,396
V2X, Inc. *
4,118
214,671
 
7,096,964
Air Freight & Logistics — 0.2%
Air Transport Services Group, Inc. *
17,364
280,255
Hub Group, Inc., Class A
20,865
975,856
 
1,256,111
Automobile Components — 1.9%
American Axle & Manufacturing Holdings, Inc. *
39,441
293,047
Dana, Inc.
44,077
560,219
Dorman Products, Inc. *
8,838
895,908
Fox Factory Holding Corp. *
14,106
753,119
Garrett Motion, Inc. (Switzerland) *
40,717
356,681
Gentherm, Inc. *
10,705
590,702
LCI Industries
8,575
1,000,617
Mobileye Global, Inc., Class A (Israel) * (a)
28,581
600,201
Modine Manufacturing Co. *
16,769
1,973,040
Patrick Industries, Inc.
7,443
953,151
Phinia, Inc.
15,222
680,423
QuantumScape Corp. * (a)
120,905
781,046
Standard Motor Products, Inc.
6,872
224,921
XPEL, Inc. * (b)
7,293
298,065
 
9,961,140
Automobiles — 0.1%
Winnebago Industries, Inc.
9,752
609,695
Banks — 10.9%
1st Source Corp.
6,192
393,502
Amalgamated Financial Corp.
5,548
176,482
Amerant Bancorp, Inc.
8,028
180,550
Ameris Bancorp
22,539
1,372,400
Associated Banc-Corp.
50,959
1,171,038
Atlantic Union Bankshares Corp.
30,061
1,241,219
Axos Financial, Inc. *
18,150
1,325,131
Banc of California, Inc.
48,397
676,590
BancFirst Corp.
7,003
752,332
Bancorp, Inc. (The) *
17,230
893,203
Bank of Hawaii Corp.
13,419
920,409
BankUnited, Inc.
24,986
962,461
Banner Corp.
11,584
686,004
Berkshire Hills Bancorp, Inc.
14,728
406,493
Brookline Bancorp, Inc.
30,033
315,046
Cathay General Bancorp
23,862
1,057,564
City Holding Co.
5,018
611,694
Columbia Financial, Inc. * (a)
9,648
173,760
Community Financial System, Inc.
17,888
1,103,332
Community Trust Bancorp, Inc.
5,369
272,316
Customers Bancorp, Inc. *
10,072
649,443
CVB Financial Corp.
44,773
853,373
Dime Community Bancshares, Inc.
12,975
328,008
Eastern Bankshares, Inc.
67,067
1,115,995
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Banks — continued
Enterprise Financial Services Corp.
12,660
669,334
FB Financial Corp.
12,160
567,750
First Bancorp
13,636
569,985
First BanCorp (Puerto Rico)
56,055
1,202,380
First Busey Corp.
19,036
522,348
First Commonwealth Financial Corp.
34,508
623,905
First Financial Bancorp
32,179
880,417
First Hawaiian, Inc.
42,995
1,076,595
First Interstate BancSystem, Inc., Class A
31,956
1,008,851
First Merchants Corp.
19,712
795,379
Fulton Financial Corp.
61,529
1,191,817
German American Bancorp, Inc.
9,996
393,243
Heartland Financial USA, Inc.
14,215
775,002
Hilltop Holdings, Inc.
15,611
515,007
Hope Bancorp, Inc.
39,449
519,149
Independent Bank Corp.
14,375
922,156
Independent Bank Group, Inc.
12,089
713,976
International Bancshares Corp.
18,108
1,221,203
Lakeland Financial Corp.
8,362
573,048
Live Oak Bancshares, Inc.
11,634
525,159
National Bank Holdings Corp., Class A
12,762
534,473
NBT Bancorp, Inc.
15,880
778,438
New York Community Bancorp, Inc. (a)
84,511
889,056
Nicolet Bankshares, Inc.
4,764
479,068
Northwest Bancshares, Inc.
41,272
579,459
OceanFirst Financial Corp.
19,802
359,802
OFG Bancorp (Puerto Rico)
15,886
721,542
Origin Bancorp, Inc.
9,879
339,442
Pacific Premier Bancorp, Inc.
32,508
879,666
Park National Corp.
4,833
855,248
Pathward Financial, Inc.
8,559
578,075
Preferred Bank
4,303
370,316
Premier Financial Corp.
12,064
305,702
Provident Financial Services, Inc.
42,237
783,074
Renasant Corp.
18,821
647,254
Republic Bancorp, Inc., Class A
3,162
207,490
S&T Bancorp, Inc.
12,947
574,588
Sandy Spring Bancorp, Inc.
15,035
460,522
Seacoast Banking Corp. of Florida
28,806
801,959
ServisFirst Bancshares, Inc.
18,323
1,470,237
Simmons First National Corp., Class A
42,087
906,133
Southside Bancshares, Inc.
10,112
353,819
Stellar Bancorp, Inc.
17,675
484,295
Stock Yards Bancorp, Inc.
9,122
567,571
Texas Capital Bancshares, Inc. *
15,814
1,045,305
Towne Bank
23,581
783,832
TriCo Bancshares
10,871
505,828
Triumph Financial, Inc. *
7,833
710,688
Trustmark Corp.
19,270
669,247
United Community Banks, Inc.
40,330
1,248,213
Veritex Holdings, Inc.
17,860
447,750
WaFd, Inc.
27,431
976,269
WesBanco, Inc.
19,619
625,454
Westamerica BanCorp
8,581
463,031
WSFS Financial Corp.
20,346
1,149,346
 
56,457,241
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Beverages — 0.2%
Duckhorn Portfolio, Inc. (The) *
21,787
158,173
MGP Ingredients, Inc.
5,020
409,381
Vita Coco Co., Inc. (The) *
13,088
338,194
 
905,748
Biotechnology — 7.3%
Agios Pharmaceuticals, Inc. *
19,070
884,848
Akero Therapeutics, Inc. *
18,981
507,362
Apogee Therapeutics, Inc. *
6,725
327,508
Arcellx, Inc. *
13,308
822,568
Arcus Biosciences, Inc. *
17,485
286,929
Ardelyx, Inc. *
73,251
406,543
Aurinia Pharmaceuticals, Inc. (Canada) *
45,657
268,463
Beam Therapeutics, Inc. * (a)
24,171
764,770
BioCryst Pharmaceuticals, Inc. *
69,283
504,380
Biohaven Ltd. *
25,813
1,015,225
Bridgebio Pharma, Inc. *
40,699
1,056,139
Catalyst Pharmaceuticals, Inc. *
34,721
598,590
Celldex Therapeutics, Inc. *
19,882
757,703
CG oncology, Inc. *
7,847
261,697
Crinetics Pharmaceuticals, Inc. *
22,122
1,175,121
Day One Biopharmaceuticals, Inc. *
19,965
285,699
Denali Therapeutics, Inc. *
41,130
1,002,338
Disc Medicine, Inc. *
3,758
162,195
Dynavax Technologies Corp. *
44,402
496,858
Dyne Therapeutics, Inc. *
21,642
928,658
Geron Corp. *
169,454
803,212
Ideaya Biosciences, Inc. *
24,315
1,046,761
ImmunityBio, Inc. * (a)
45,255
233,063
Insmed, Inc. *
54,723
3,981,098
Intellia Therapeutics, Inc. *
32,167
843,097
Iovance Biotherapeutics, Inc. *
73,915
645,278
Ironwood Pharmaceuticals, Inc. *
47,840
326,747
Keros Therapeutics, Inc. *
9,141
458,513
Krystal Biotech, Inc. *
8,546
1,781,499
Kura Oncology, Inc. *
17,913
372,770
Kymera Therapeutics, Inc. *
14,553
672,349
Morphic Holding, Inc. *
13,368
757,431
Myriad Genetics, Inc. *
30,110
842,177
Nuvalent, Inc., Class A *
10,271
821,064
OmniAb Operations, Inc. ‡ *
2,112
—
Protagonist Therapeutics, Inc. *
18,766
702,599
Prothena Corp. plc (Ireland) *
12,018
279,779
PTC Therapeutics, Inc. *
25,946
878,272
Recursion Pharmaceuticals, Inc., Class A * (a)
70,942
581,724
REGENXBIO, Inc. *
13,579
193,501
Relay Therapeutics, Inc. *
31,258
256,941
Rhythm Pharmaceuticals, Inc. * (a)
17,110
824,873
Rocket Pharmaceuticals, Inc. *
23,646
572,233
Sage Therapeutics, Inc. *
14,895
163,100
Sana Biotechnology, Inc. *
41,002
249,702
SpringWorks Therapeutics, Inc. *
18,700
671,517
Spyre Therapeutics, Inc. * (a)
7,256
199,540
Summit Therapeutics, Inc. *
28,060
303,048
Syndax Pharmaceuticals, Inc. *
28,833
654,509
Tango Therapeutics, Inc. *
15,934
156,950
TG Therapeutics, Inc. *
48,241
953,242
Twist Bioscience Corp. *
18,337
1,023,388
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Biotechnology — continued
Vera Therapeutics, Inc. *
12,544
458,985
Veracyte, Inc. *
25,809
619,416
Vericel Corp. *
16,475
832,317
Vir Biotechnology, Inc. *
31,578
320,833
Viridian Therapeutics, Inc. *
16,784
282,810
Xencor, Inc. *
20,771
424,144
Zentalis Pharmaceuticals, Inc. *
17,840
69,398
 
37,771,474
Broadline Retail — 0.3%
Kohl's Corp.
37,032
802,113
Nordstrom, Inc.
36,290
828,501
Savers Value Village, Inc. *
9,146
93,198
 
1,723,812
Building Products — 1.9%
American Woodmark Corp. *
5,372
548,750
Apogee Enterprises, Inc.
7,444
510,956
AZZ, Inc.
9,828
785,847
CSW Industrials, Inc.
5,213
1,691,202
Gibraltar Industries, Inc. *
10,328
767,061
Griffon Corp.
12,779
920,855
Hayward Holdings, Inc. *
47,927
708,840
Janus International Group, Inc. *
38,460
554,593
JELD-WEN Holding, Inc. *
28,481
475,348
Masterbrand, Inc. *
42,969
775,590
Quanex Building Products Corp.
14,947
499,230
Resideo Technologies, Inc. *
49,221
1,118,301
Tecnoglass, Inc.
7,719
415,359
 
9,771,932
Capital Markets — 2.9%
Artisan Partners Asset Management, Inc., Class A
23,624
1,043,236
AssetMark Financial Holdings, Inc. *
7,736
266,892
B. Riley Financial, Inc. (a)
5,574
107,021
BGC Group, Inc., Class A
124,152
1,143,440
Brightsphere Investment Group, Inc.
9,723
254,645
Donnelley Financial Solutions, Inc. *
8,552
577,089
Hamilton Lane, Inc., Class A
13,291
1,918,822
Moelis & Co., Class A
23,873
1,623,364
Piper Sandler Cos.
4,890
1,336,339
PJT Partners, Inc., Class A
7,740
1,028,955
StepStone Group, Inc., Class A
19,080
958,961
StoneX Group, Inc. *
9,300
775,062
TPG, Inc.
28,514
1,453,929
Victory Capital Holdings, Inc., Class A
14,228
745,405
Virtu Financial, Inc., Class A
28,524
779,276
Virtus Investment Partners, Inc.
2,335
527,710
WisdomTree, Inc.
39,327
469,564
 
15,009,710
Chemicals — 1.2%
AdvanSix, Inc.
9,082
254,024
Ecovyst, Inc. *
36,010
343,535
Ginkgo Bioworks Holdings, Inc. *
533,058
202,562
Hawkins, Inc.
6,672
693,221
Ingevity Corp. *
11,383
522,366
Innospec, Inc.
8,412
1,103,150
Mativ Holdings, Inc.
18,299
349,328
Minerals Technologies, Inc.
10,866
851,677
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Chemicals — continued
Orion SA (Germany)
19,005
467,903
PureCycle Technologies, Inc. * (a)
32,842
253,212
Stepan Co.
7,392
625,585
Tronox Holdings plc
40,272
650,795
 
6,317,358
Commercial Services & Supplies — 2.5%
ABM Industries, Inc.
21,390
1,188,428
ACV Auctions, Inc., Class A *
49,803
850,635
Brady Corp., Class A
14,895
1,066,631
BrightView Holdings, Inc. *
14,450
207,936
Brink's Co. (The)
15,042
1,654,470
Cimpress plc (Ireland) *
5,466
498,882
CoreCivic, Inc. *
37,476
522,415
Deluxe Corp.
13,832
337,224
Driven Brands Holdings, Inc. *
20,917
281,124
GEO Group, Inc. (The) *
41,033
594,978
Healthcare Services Group, Inc. *
24,982
285,544
HNI Corp.
16,000
879,200
Matthews International Corp., Class A
10,306
298,359
MillerKnoll, Inc.
24,258
752,483
Montrose Environmental Group, Inc. *
11,135
355,095
OPENLANE, Inc. *
36,394
650,725
Pitney Bowes, Inc. (a)
54,805
361,713
Steelcase, Inc., Class A
29,646
429,571
UniFirst Corp.
4,951
963,168
Vestis Corp.
44,179
573,002
 
12,751,583
Communications Equipment — 0.8%
Calix, Inc. *
20,182
830,086
Digi International, Inc. *
12,226
333,770
Extreme Networks, Inc. *
43,934
628,256
Harmonic, Inc. *
36,893
540,851
Infinera Corp. * (a)
70,338
417,808
NetScout Systems, Inc. *
23,174
471,591
Viasat, Inc. *
27,072
547,396
Viavi Solutions, Inc. *
75,383
606,079
 
4,375,837
Construction & Engineering — 1.5%
Ameresco, Inc., Class A * (a)
10,885
343,640
Centuri Holdings, Inc. * (a)
4,835
79,826
Construction Partners, Inc., Class A *
14,688
949,579
Dycom Industries, Inc. *
9,935
1,823,172
Granite Construction, Inc.
14,892
1,019,506
IES Holdings, Inc. *
3,007
462,988
MYR Group, Inc. *
5,659
794,976
Primoris Services Corp.
18,086
1,021,316
Sterling Infrastructure, Inc. *
10,573
1,230,274
 
7,725,277
Construction Materials — 0.3%
Knife River Corp. *
17,249
1,371,640
United States Lime & Minerals, Inc.
3,610
307,031
 
1,678,671
Consumer Finance — 1.0%
Bread Financial Holdings, Inc.
16,387
894,402
Encore Capital Group, Inc. *
7,951
401,923
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Consumer Finance — continued
Enova International, Inc. *
8,678
750,387
LendingClub Corp. *
37,402
467,899
Navient Corp.
27,432
450,159
Nelnet, Inc., Class A
4,657
524,891
PROG Holdings, Inc.
14,636
659,498
Upstart Holdings, Inc. * (a)
25,643
716,209
World Acceptance Corp. *
1,286
157,046
 
5,022,414
Consumer Staples Distribution & Retail — 0.7%
Andersons, Inc. (The)
11,097
605,119
Chefs' Warehouse, Inc. (The) *
11,964
497,583
Grocery Outlet Holding Corp. *
33,170
648,805
Ingles Markets, Inc., Class A
4,903
397,388
PriceSmart, Inc.
8,644
789,457
Weis Markets, Inc.
5,540
417,993
 
3,356,345
Containers & Packaging — 0.3%
Myers Industries, Inc.
11,225
167,252
O-I Glass, Inc. *
52,342
699,289
Pactiv Evergreen, Inc.
13,441
176,615
TriMas Corp.
13,807
339,376
 
1,382,532
Distributors — 0.0% ^
GigaCloud Technology, Inc., Class A (Hong Kong) * (a)
7,593
223,462
Diversified Consumer Services — 1.3%
Adtalem Global Education, Inc. *
12,658
992,514
Coursera, Inc. *
37,555
349,261
Frontdoor, Inc. *
26,367
1,040,442
Graham Holdings Co., Class B
1,158
897,276
Laureate Education, Inc., Class A
45,276
701,778
Mister Car Wash, Inc. *
32,199
244,712
OneSpaWorld Holdings Ltd. (Bahamas) *
32,155
517,374
Strategic Education, Inc.
7,579
798,827
Stride, Inc. *
14,296
1,086,210
Udemy, Inc. *
31,371
289,868
 
6,918,262
Diversified REITs — 0.6%
Alexander & Baldwin, Inc.
24,587
484,610
American Assets Trust, Inc.
16,134
427,873
Broadstone Net Lease, Inc.
58,517
1,018,781
Empire State Realty Trust, Inc., Class A
45,188
486,675
Global Net Lease, Inc.
67,369
586,110
 
3,004,049
Diversified Telecommunication Services — 0.4%
Globalstar, Inc. * (a)
259,721
314,262
Liberty Latin America Ltd., Class A (Puerto Rico) *
10,820
113,394
Liberty Latin America Ltd., Class C (Puerto Rico) *
38,955
412,923
Lumen Technologies, Inc. * (a)
336,503
1,059,984
Shenandoah Telecommunications Co.
17,786
378,664
 
2,279,227
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Electric Utilities — 0.3%
Hawaiian Electric Industries, Inc.
37,366
618,781
MGE Energy, Inc.
12,245
1,075,601
 
1,694,382
Electrical Equipment — 0.9%
Array Technologies, Inc. *
48,536
510,599
Enovix Corp. * (a)
49,519
713,569
Fluence Energy, Inc. *
20,553
336,658
Plug Power, Inc. * (a)
238,225
588,416
Powell Industries, Inc.
3,249
596,614
Shoals Technologies Group, Inc., Class A *
57,643
374,679
Sunrun, Inc. *
75,135
1,317,116
Vicor Corp. *
7,791
328,079
 
4,765,730
Electronic Equipment, Instruments & Components — 2.4%
Benchmark Electronics, Inc.
12,120
580,184
Crane NXT Co.
19,139
1,203,460
CTS Corp.
10,332
505,028
ePlus, Inc. *
9,066
833,347
Itron, Inc. *
15,421
1,595,148
Knowles Corp. *
30,533
557,838
Mirion Technologies, Inc. *
71,190
750,343
Napco Security Technologies, Inc.
11,853
661,516
OSI Systems, Inc. *
5,655
836,827
PAR Technology Corp. *
11,357
575,118
PC Connection, Inc.
4,047
289,644
Plexus Corp. *
9,254
1,186,085
Rogers Corp. *
5,798
708,400
ScanSource, Inc. *
8,291
431,546
TTM Technologies, Inc. *
34,449
667,622
Vishay Intertechnology, Inc.
38,764
942,353
 
12,324,459
Energy Equipment & Services — 1.7%
Archrock, Inc.
49,818
1,032,727
Cactus, Inc., Class A
22,120
1,396,214
Core Laboratories, Inc.
15,738
385,424
Diamond Offshore Drilling, Inc. *
34,440
565,505
Helix Energy Solutions Group, Inc. *
49,090
579,262
Kodiak Gas Services, Inc.
6,025
173,821
Liberty Energy, Inc.
54,453
1,315,040
Nabors Industries Ltd. *
3,035
312,089
Oceaneering International, Inc. *
33,903
1,017,768
ProPetro Holding Corp. *
25,532
244,852
RPC, Inc.
33,235
248,266
Tidewater, Inc. *
16,548
1,637,590
 
8,908,558
Entertainment — 0.9%
AMC Entertainment Holdings, Inc., Class A * (a)
93,591
496,969
Atlanta Braves Holdings, Inc., Class A *
3,502
160,812
Atlanta Braves Holdings, Inc., Class C *
15,707
682,155
Cinemark Holdings, Inc. *
37,385
881,538
IMAX Corp. *
14,962
315,698
Liberty Media Corp-Liberty Live, Class A *
6,799
256,798
Liberty Media Corp-Liberty Live, Class C *
15,748
614,487
Lions Gate Entertainment Corp., Class A *
15,758
144,501
Lions Gate Entertainment Corp., Class B *
43,740
360,418
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Entertainment — continued
Madison Square Garden Entertainment Corp. *
13,626
538,091
Sphere Entertainment Co. *
9,076
403,701
 
4,855,168
Financial Services — 1.8%
AvidXchange Holdings, Inc. *
60,167
537,893
Cannae Holdings, Inc.
19,532
392,788
Compass Diversified Holdings
20,744
499,101
EVERTEC, Inc. (Puerto Rico)
20,456
705,118
Federal Agricultural Mortgage Corp., Class C
3,150
649,593
HA Sustainable Infrastructure Capital, Inc. (a)
37,848
1,240,279
Marqeta, Inc., Class A *
136,563
736,075
Merchants Bancorp
5,898
265,410
NCR Atleos Corp. *
24,366
783,367
NMI Holdings, Inc., Class A *
25,613
1,007,872
Payoneer Global, Inc. *
83,717
462,955
Repay Holdings Corp. * (a)
27,607
265,579
Rocket Cos., Inc., Class A * (a)
43,680
707,179
Walker & Dunlop, Inc.
11,304
1,208,398
 
9,461,607
Food Products — 0.6%
B&G Foods, Inc. (a)
26,278
226,516
Cal-Maine Foods, Inc.
14,318
1,024,739
Fresh Del Monte Produce, Inc.
12,722
318,686
Mission Produce, Inc. * (a)
14,629
164,430
Tootsie Roll Industries, Inc.
4,894
150,931
TreeHouse Foods, Inc. *
16,009
644,843
Utz Brands, Inc.
23,154
343,605
WK Kellogg Co.
22,013
387,429
 
3,261,179
Gas Utilities — 0.3%
Chesapeake Utilities Corp.
7,378
870,825
Northwest Natural Holding Co.
12,877
514,823
 
1,385,648
Ground Transportation — 0.8%
ArcBest Corp.
7,988
1,006,887
Heartland Express, Inc.
17,349
225,016
Hertz Global Holdings, Inc. * (a)
43,448
177,268
Marten Transport Ltd.
19,642
369,466
RXO, Inc. *
39,541
1,253,845
Schneider National, Inc., Class B
18,005
484,515
Werner Enterprises, Inc.
21,445
840,430
 
4,357,427
Health Care Equipment & Supplies — 3.3%
Alphatec Holdings, Inc. *
35,027
353,773
AtriCure, Inc. *
16,301
351,613
Atrion Corp.
467
214,026
Avanos Medical, Inc. *
15,545
371,836
Axonics, Inc. *
17,105
1,171,350
CONMED Corp.
10,434
720,363
Establishment Labs Holdings, Inc. (Costa Rica) *
8,302
368,941
Glaukos Corp. *
17,005
1,992,476
ICU Medical, Inc. *
7,209
915,399
Inari Medical, Inc. *
17,176
799,715
Integer Holdings Corp. *
11,296
1,341,513
Integra LifeSciences Holdings Corp. *
22,997
570,556
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Health Care Equipment & Supplies — continued
LeMaitre Vascular, Inc. (a)
6,753
586,768
LivaNova plc *
18,279
902,983
Novocure Ltd. *
32,815
747,197
Omnicell, Inc. *
15,428
450,652
OrthoPediatrics Corp. *
5,561
171,168
Paragon 28, Inc. *
13,077
101,870
PROCEPT BioRobotics Corp. *
15,565
985,576
RxSight, Inc. *
10,842
496,238
STAAR Surgical Co. *
12,820
528,825
Tandem Diabetes Care, Inc. *
22,038
814,965
TransMedics Group, Inc. *
11,044
1,571,119
UFP Technologies, Inc. *
2,483
798,508
 
17,327,430
Health Care Providers & Services — 2.7%
AdaptHealth Corp. *
25,221
286,511
Addus HomeCare Corp. *
5,957
722,941
agilon health, Inc. *
104,465
719,764
Alignment Healthcare, Inc. *
35,421
309,579
Amedisys, Inc. *
10,896
1,068,353
AMN Healthcare Services, Inc. *
12,808
866,077
Astrana Health, Inc. *
13,459
706,059
BrightSpring Health Services, Inc. *
18,122
224,532
Brookdale Senior Living, Inc. *
60,775
469,791
Guardant Health, Inc. *
39,660
1,393,256
Hims & Hers Health, Inc. *
53,190
1,129,756
LifeStance Health Group, Inc. * (a)
29,803
164,214
National HealthCare Corp.
4,961
675,490
National Research Corp.
5,119
130,483
NeoGenomics, Inc. *
43,120
764,518
OPKO Health, Inc. * (a)
105,480
149,782
Owens & Minor, Inc. *
23,283
382,307
PACS Group, Inc. * (a)
8,202
293,632
Patterson Cos., Inc.
27,358
690,789
Pediatrix Medical Group, Inc. *
28,482
237,540
Privia Health Group, Inc. *
36,293
752,717
RadNet, Inc. *
22,190
1,325,852
US Physical Therapy, Inc.
5,071
494,422
 
13,958,365
Health Care REITs — 0.8%
CareTrust REIT, Inc.
47,458
1,279,468
LTC Properties, Inc.
14,751
526,758
National Health Investors, Inc.
14,699
1,100,367
Sabra Health Care REIT, Inc.
71,315
1,157,442
 
4,064,035
Health Care Technology — 0.4%
Certara, Inc. *
36,989
577,398
Definitive Healthcare Corp. *
16,505
64,369
HealthStream, Inc.
8,396
249,445
Phreesia, Inc. *
18,488
461,276
Schrodinger, Inc. *
18,621
414,876
Teladoc Health, Inc. *
57,427
541,537
 
2,308,901
Hotel & Resort REITs — 0.8%
DiamondRock Hospitality Co.
69,490
571,903
Park Hotels & Resorts, Inc.
71,033
1,069,757
Pebblebrook Hotel Trust
40,151
549,667
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Hotel & Resort REITs — continued
RLJ Lodging Trust
51,344
484,687
Service Properties Trust
56,135
318,286
Sunstone Hotel Investors, Inc.
69,289
717,834
Xenia Hotels & Resorts, Inc.
34,597
480,206
 
4,192,340
Hotels, Restaurants & Leisure — 2.1%
BJ's Restaurants, Inc. *
6,481
204,670
Bloomin' Brands, Inc.
27,023
563,430
Bowlero Corp., Class A (a)
7,413
95,998
Brinker International, Inc. *
14,939
998,075
Cheesecake Factory, Inc. (The) (a)
16,143
627,801
Cracker Barrel Old Country Store, Inc. (a)
7,489
343,221
Dave & Buster's Entertainment, Inc. *
10,924
410,852
Dine Brands Global, Inc.
4,952
177,480
Dutch Bros, Inc., Class A *
26,686
1,020,739
Everi Holdings, Inc. *
27,878
358,790
First Watch Restaurant Group, Inc. *
10,696
174,024
Global Business Travel Group I *
40,891
274,787
Golden Entertainment, Inc.
7,651
255,773
Jack in the Box, Inc.
6,475
384,874
Krispy Kreme, Inc.
26,829
285,192
Monarch Casino & Resort, Inc.
4,497
352,025
Papa John's International, Inc.
11,092
490,599
Portillo's, Inc., Class A *
18,981
196,643
Red Rock Resorts, Inc., Class A
17,128
976,296
Sabre Corp. *
126,442
433,696
Shake Shack, Inc., Class A *
12,750
1,117,155
Sweetgreen, Inc., Class A *
28,533
784,087
Target Hospitality Corp. *
12,261
114,763
 
10,640,970
Household Durables — 1.8%
Cavco Industries, Inc. *
2,694
1,116,986
Century Communities, Inc.
9,746
1,020,504
Green Brick Partners, Inc. *
10,700
782,705
Helen of Troy Ltd. *
8,048
475,717
La-Z-Boy, Inc.
14,519
640,869
Leggett & Platt, Inc.
44,784
589,805
LGI Homes, Inc. *
7,172
825,282
M/I Homes, Inc. *
9,449
1,576,377
Sonos, Inc. *
39,365
531,428
Tri Pointe Homes, Inc. *
31,290
1,415,872
Vizio Holding Corp., Class A * (a)
23,363
256,526
 
9,232,071
Household Products — 0.7%
Central Garden & Pet Co. *
3,078
122,628
Central Garden & Pet Co., Class A *
17,653
606,557
Energizer Holdings, Inc.
22,126
681,260
Spectrum Brands Holdings, Inc.
9,632
814,963
WD-40 Co.
4,572
1,196,081
 
3,421,489
Industrial REITs — 0.4%
Innovative Industrial Properties, Inc. (a)
9,467
1,162,642
LXP Industrial Trust
98,895
1,018,619
 
2,181,261
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Insurance — 2.1%
AMERISAFE, Inc.
6,496
308,430
Baldwin Insurance Group, Inc. (The), Class A *
22,309
975,796
CNO Financial Group, Inc.
36,218
1,262,560
Employers Holdings, Inc.
8,590
412,406
F&G Annuities & Life, Inc.
5,834
251,620
Genworth Financial, Inc., Class A *
148,370
1,004,465
Goosehead Insurance, Inc., Class A *
7,912
714,375
Horace Mann Educators Corp.
13,841
478,483
Lemonade, Inc. * (a)
17,724
319,564
Mercury General Corp.
9,037
541,045
Oscar Health, Inc., Class A *
56,806
1,004,330
Palomar Holdings, Inc. *
8,031
738,932
ProAssurance Corp. *
17,294
226,551
Safety Insurance Group, Inc.
4,969
425,098
SiriusPoint Ltd. (Bermuda) *
33,319
478,794
Skyward Specialty Insurance Group, Inc. *
10,121
400,488
Stewart Information Services Corp.
9,238
653,127
Trupanion, Inc. * (a)
11,306
419,000
 
10,615,064
Interactive Media & Services — 0.9%
Bumble, Inc., Class A *
30,231
282,358
Cargurus, Inc. *
29,035
720,649
Cars.com, Inc. *
21,079
434,649
Reddit, Inc., Class A * (a)
8,589
522,641
Shutterstock, Inc. (a)
8,374
370,298
TripAdvisor, Inc. *
36,813
649,013
Yelp, Inc. *
22,838
831,988
Ziff Davis, Inc. *
15,602
747,024
ZipRecruiter, Inc., Class A *
22,183
203,196
 
4,761,816
IT Services — 0.6%
DigitalOcean Holdings, Inc. *
18,379
608,896
Fastly, Inc., Class A *
42,649
345,457
Grid Dynamics Holdings, Inc. *
19,733
254,556
Perficient, Inc. *
11,774
887,877
Squarespace, Inc., Class A *
20,576
909,254
 
3,006,040
Leisure Products — 0.4%
Malibu Boats, Inc., Class A *
6,741
256,428
Peloton Interactive, Inc., Class A * (a)
117,072
416,776
Smith & Wesson Brands, Inc.
15,429
255,350
Sturm Ruger & Co., Inc.
5,863
264,480
Vista Outdoor, Inc. *
18,048
733,290
 
1,926,324
Life Sciences Tools & Services — 0.3%
Cytek Biosciences, Inc. *
36,346
243,882
Fortrea Holdings, Inc. *
27,750
765,623
Maravai LifeSciences Holdings, Inc., Class A *
37,317
363,094
OmniAb, Inc. ‡ *
2,112
—
 
1,372,599
Machinery — 2.9%
Alamo Group, Inc.
3,399
655,055
Albany International Corp., Class A
10,544
986,707
Astec Industries, Inc.
7,677
269,386
Atmus Filtration Technologies, Inc. *
5,399
166,505
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Machinery — continued
Barnes Group, Inc.
16,146
651,330
Energy Recovery, Inc. *
19,315
281,613
Enerpac Tool Group Corp.
18,401
739,720
Enpro, Inc.
7,080
1,210,255
ESCO Technologies, Inc.
8,599
1,057,333
Gorman-Rupp Co. (The)
7,003
289,294
Greenbrier Cos., Inc. (The)
10,469
534,024
Helios Technologies, Inc.
11,125
511,194
Hillman Solutions Corp. *
61,965
628,945
Kadant, Inc.
3,960
1,391,900
Kennametal, Inc.
25,490
666,309
Lindsay Corp.
3,736
470,699
Mueller Water Products, Inc., Class A
53,043
1,096,929
Proto Labs, Inc. *
8,109
282,355
Standex International Corp.
3,986
744,585
Symbotic, Inc. * (a)
8,413
225,553
Tennant Co.
6,436
693,093
Trinity Industries, Inc.
27,558
911,067
Wabash National Corp.
15,201
326,669
 
14,790,520
Marine Transportation — 0.3%
Matson, Inc.
11,513
1,527,890
Media — 0.8%
Cable One, Inc.
1,548
639,912
Ibotta, Inc., Class A * (a)
2,235
150,281
Integral Ad Science Holding Corp. *
24,230
246,661
John Wiley & Sons, Inc., Class A
14,830
708,133
Magnite, Inc. *
42,474
617,572
Scholastic Corp.
7,877
246,787
TechTarget, Inc. *
8,908
285,056
TEGNA, Inc.
56,800
904,824
Thryv Holdings, Inc. *
10,784
210,072
 
4,009,298
Metals & Mining — 1.7%
Alpha Metallurgical Resources, Inc.
3,716
1,097,744
Arch Resources, Inc.
5,975
875,636
Carpenter Technology Corp.
16,646
2,428,152
Century Aluminum Co. *
17,463
263,866
Coeur Mining, Inc. *
134,678
874,060
Ivanhoe Electric, Inc. *
26,901
266,858
Kaiser Aluminum Corp.
5,391
424,218
Materion Corp.
7,003
843,371
Ryerson Holding Corp.
10,098
240,231
Warrior Met Coal, Inc.
17,562
1,213,710
Worthington Steel, Inc.
11,009
438,929
 
8,966,775
Mortgage Real Estate Investment Trusts (REITs) — 1.1%
Apollo Commercial Real Estate Finance, Inc.
44,414
484,112
Arbor Realty Trust, Inc. (a)
58,458
789,183
ARMOUR Residential REIT, Inc. (a)
16,443
332,149
Brightspire Capital, Inc.
44,105
252,722
Chimera Investment Corp.
26,770
391,110
Claros Mortgage Trust, Inc.
35,162
334,391
Franklin BSP Realty Trust, Inc.
27,792
384,641
Ladder Capital Corp.
40,305
483,660
MFA Financial, Inc.
34,340
384,262
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Mortgage Real Estate Investment Trusts (REITs) — continued
PennyMac Mortgage Investment Trust (a)
29,333
403,915
Ready Capital Corp.
54,777
508,330
Redwood Trust, Inc.
44,700
324,969
Two Harbors Investment Corp.
34,800
468,756
 
5,542,200
Office REITs — 1.8%
Brandywine Realty Trust
56,874
286,645
COPT Defense Properties
38,149
1,105,177
Douglas Emmett, Inc.
54,595
878,434
Easterly Government Properties, Inc.
32,606
454,202
Equity Commonwealth *
36,063
734,603
Highwoods Properties, Inc.
35,790
1,108,416
Hudson Pacific Properties, Inc.
43,038
257,798
JBG SMITH Properties
28,594
467,512
Paramount Group, Inc.
62,318
326,546
Piedmont Office Realty Trust, Inc., Class A
41,765
361,267
SL Green Realty Corp. (a)
21,857
1,456,550
Vornado Realty Trust (a)
58,248
1,746,857
 
9,184,007
Oil, Gas & Consumable Fuels — 2.2%
CNX Resources Corp. *
51,841
1,372,231
CONSOL Energy, Inc. *
9,254
923,642
CVR Energy, Inc.
11,496
328,786
Delek US Holdings, Inc.
21,237
505,016
Dorian LPG Ltd.
12,787
522,477
Granite Ridge Resources, Inc.
20,496
140,398
Green Plains, Inc. *
19,996
354,529
Gulfport Energy Corp. *
4,329
637,272
International Seaways, Inc.
11,898
666,288
Kinetik Holdings, Inc.
6,180
256,346
Kosmos Energy Ltd. (Ghana) *
158,718
877,710
NextDecade Corp. *
28,205
228,743
Northern Oil & Gas, Inc.
31,855
1,375,817
Par Pacific Holdings, Inc. *
19,962
529,991
Sitio Royalties Corp.
27,549
670,818
Talos Energy, Inc. *
41,561
492,082
Uranium Energy Corp. *
127,115
753,792
Vital Energy, Inc. *
8,372
365,103
World Kinect Corp.
20,386
569,381
 
11,570,422
Paper & Forest Products — 0.2%
Sylvamo Corp.
11,899
877,075
Passenger Airlines — 0.6%
Allegiant Travel Co.
5,345
299,694
JetBlue Airways Corp. *
108,945
698,338
Joby Aviation, Inc. * (a)
144,342
863,165
SkyWest, Inc. *
13,388
1,070,237
Sun Country Airlines Holdings, Inc. *
13,901
182,103
 
3,113,537
Personal Care Products — 0.2%
Edgewell Personal Care Co.
16,787
657,211
Herbalife Ltd. * (a)
32,889
403,877
USANA Health Sciences, Inc. *
3,798
169,391
 
1,230,479
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Pharmaceuticals — 1.4%
Amneal Pharmaceuticals, Inc. *
43,060
315,630
Amphastar Pharmaceuticals, Inc. *
12,983
565,020
ANI Pharmaceuticals, Inc. *
6,115
401,878
Arvinas, Inc. *
16,819
462,691
Avadel Pharmaceuticals plc, ADR *
31,079
507,831
Cassava Sciences, Inc. * (a)
13,354
296,726
Corcept Therapeutics, Inc. *
33,419
1,292,313
Edgewise Therapeutics, Inc. *
19,972
340,123
Harmony Biosciences Holdings, Inc. * (a)
10,946
370,631
Innoviva, Inc. *
18,646
351,291
Ligand Pharmaceuticals, Inc. *
6,087
663,422
Neumora Therapeutics, Inc. * (a)
24,300
312,498
Pacira BioSciences, Inc. *
15,662
323,420
Pliant Therapeutics, Inc. *
15,182
217,254
Supernus Pharmaceuticals, Inc. *
17,851
532,317
Tilray Brands, Inc. (Canada) *
260,521
528,858
 
7,481,903
Professional Services — 1.8%
CBIZ, Inc. *
15,998
1,110,261
CSG Systems International, Inc.
9,755
456,924
First Advantage Corp.
17,184
295,908
Huron Consulting Group, Inc. *
6,072
667,981
ICF International, Inc.
6,365
936,292
Kelly Services, Inc., Class A
10,637
250,289
Kforce, Inc.
6,401
444,677
Korn Ferry
16,881
1,244,467
Legalzoom.com, Inc. *
39,981
267,073
NV5 Global, Inc. *
4,856
500,848
Sterling Check Corp. *
9,857
154,558
UL Solutions, Inc., Class A
13,162
665,076
Upwork, Inc. *
41,206
499,417
Verra Mobility Corp. *
56,092
1,690,052
 
9,183,823
Real Estate Management & Development — 1.0%
Compass, Inc., Class A *
125,068
549,048
Cushman & Wakefield plc *
70,784
927,978
DigitalBridge Group, Inc.
52,723
744,976
eXp World Holdings, Inc. (a)
27,241
391,181
Forestar Group, Inc. *
6,285
198,794
Kennedy-Wilson Holdings, Inc.
36,968
384,837
Marcus & Millichap, Inc.
8,231
326,030
Newmark Group, Inc., Class A
47,521
616,823
Opendoor Technologies, Inc. *
195,935
454,569
St. Joe Co. (The)
13,013
802,642
 
5,396,878
Residential REITs — 0.4%
Apartment Investment and Management Co., Class A *
41,532
367,974
Centerspace
5,107
356,622
Elme Communities
29,741
489,537
NexPoint Residential Trust, Inc.
7,519
328,505
Veris Residential, Inc.
27,130
426,212
 
1,968,850
Retail REITs — 1.4%
Acadia Realty Trust
34,424
744,935
Alexander's, Inc.
722
174,941
CBL & Associates Properties, Inc.
4,560
117,511
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Retail REITs — continued
Getty Realty Corp.
17,249
510,915
InvenTrust Properties Corp.
22,822
642,896
Macerich Co. (The)
73,029
1,169,194
Retail Opportunity Investments Corp.
41,905
626,480
Saul Centers, Inc.
4,175
165,121
SITE Centers Corp.
64,274
993,033
Tanger, Inc.
36,584
1,057,278
Urban Edge Properties
38,640
784,392
 
6,986,696
Semiconductors & Semiconductor Equipment — 2.1%
Ambarella, Inc. *
13,781
725,432
Cohu, Inc. *
15,973
510,976
Credo Technology Group Holding Ltd. *
45,321
1,257,658
FormFactor, Inc. *
26,358
1,411,734
Ichor Holdings Ltd. *
11,209
381,106
Impinj, Inc. *
7,598
1,210,285
indie Semiconductor, Inc., Class A (China) *
52,093
311,516
Kulicke & Soffa Industries, Inc. (Singapore)
17,859
842,409
MaxLinear, Inc. *
26,345
372,518
Navitas Semiconductor Corp. *
41,243
153,012
PDF Solutions, Inc. *
10,437
366,234
Photronics, Inc. *
20,292
515,620
Semtech Corp. *
21,730
689,276
SiTime Corp. *
6,224
883,497
Ultra Clean Holdings, Inc. *
15,074
652,101
Veeco Instruments, Inc. *
19,002
786,873
 
11,070,247
Software — 7.7%
A10 Networks, Inc.
23,823
311,843
ACI Worldwide, Inc. *
35,704
1,543,484
Adeia, Inc.
36,521
429,122
Agilysys, Inc. *
7,788
872,957
Alarm.com Holdings, Inc. *
16,758
1,182,277
Alkami Technology, Inc. *
15,485
506,824
Amplitude, Inc., Class A *
25,348
216,979
Appfolio, Inc., Class A *
7,310
1,619,019
Appian Corp., Class A * (a)
11,600
428,504
Asana, Inc., Class A *
29,793
433,488
Aurora Innovation, Inc. *
270,308
1,081,232
AvePoint, Inc. *
30,784
335,546
Braze, Inc., Class A *
18,395
810,484
C3.ai, Inc., Class A *
37,482
1,002,644
Cipher Mining, Inc. * (a)
61,469
321,483
Cleanspark, Inc. *
74,055
1,184,880
Clear Secure, Inc., Class A (a)
26,559
567,035
Clearwater Analytics Holdings, Inc., Class A *
49,461
966,963
CommVault Systems, Inc. *
14,829
2,266,613
E2open Parent Holdings, Inc. *
62,090
289,960
Freshworks, Inc., Class A *
62,532
781,650
HashiCorp, Inc., Class A *
44,715
1,509,131
Intapp, Inc. *
14,451
517,779
InterDigital, Inc.
8,510
1,044,688
Jamf Holding Corp. *
18,653
341,536
JFrog Ltd. (Israel) *
26,504
1,021,994
Klaviyo, Inc., Class A *
12,481
327,002
LiveRamp Holdings, Inc. *
22,059
667,947
Marathon Digital Holdings, Inc. * (a)
90,938
1,788,750
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Software — continued
Matterport, Inc. *
90,280
400,843
MeridianLink, Inc. *
8,226
194,380
N-Able, Inc. *
24,324
339,077
nCino, Inc. *
25,723
842,686
NCR Voyix Corp. *
48,923
721,614
PagerDuty, Inc. *
31,238
653,811
Progress Software Corp.
14,722
859,765
PROS Holdings, Inc. *
14,821
357,186
Q2 Holdings, Inc. *
19,637
1,324,908
Rapid7, Inc. *
21,063
828,618
RingCentral, Inc., Class A *
26,479
928,089
Riot Platforms, Inc. * (a)
96,711
985,485
SolarWinds Corp.
16,321
194,710
SoundHound AI, Inc. * (a)
95,669
486,955
Sprinklr, Inc., Class A *
39,715
390,398
Sprout Social, Inc., Class A * (a)
16,633
649,851
Varonis Systems, Inc. *
37,483
2,066,438
Verint Systems, Inc. *
20,923
756,157
Vertex, Inc., Class A *
16,762
664,613
Zeta Global Holdings Corp., Class A *
58,519
1,253,477
Zuora, Inc., Class A *
47,321
429,201
 
39,700,076
Specialized REITs — 0.4%
Four Corners Property Trust, Inc.
31,180
846,225
Outfront Media, Inc.
47,321
767,547
Safehold, Inc.
15,529
359,341
Uniti Group, Inc.
80,900
310,656
 
2,283,769
Specialty Retail — 2.5%
American Eagle Outfitters, Inc.
61,528
1,356,692
Beyond, Inc. *
13,682
154,607
Boot Barn Holdings, Inc. * (a)
10,255
1,368,837
Buckle, Inc. (The)
10,663
460,535
Caleres, Inc.
11,720
451,923
Camping World Holdings, Inc., Class A
14,388
329,197
Chewy, Inc., Class A *
46,128
1,115,375
Foot Locker, Inc.
27,986
813,273
Guess?, Inc. (a)
10,022
241,029
Leslie's, Inc. *
60,293
177,864
Monro, Inc.
10,139
312,484
National Vision Holdings, Inc. *
26,523
383,523
ODP Corp. (The) *
11,884
502,099
Revolve Group, Inc. *
12,968
250,931
Sally Beauty Holdings, Inc. *
35,123
402,158
Sonic Automotive, Inc., Class A
4,902
291,865
Upbound Group, Inc.
16,598
626,243
Urban Outfitters, Inc. *
18,260
840,873
Victoria's Secret & Co. *
23,748
421,527
Warby Parker, Inc., Class A *
20,748
341,720
Wayfair, Inc., Class A *
32,555
1,771,969
Winmark Corp.
976
386,145
 
13,000,869
Technology Hardware, Storage & Peripherals — 0.2%
Corsair Gaming, Inc. *
15,794
129,669
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
INVESTMENTS
SHARES
VALUE($)
Common Stocks — continued
Technology Hardware, Storage & Peripherals — continued
IonQ, Inc. * (a)
64,935
529,220
Xerox Holdings Corp.
38,979
419,609
 
1,078,498
Textiles, Apparel & Luxury Goods — 1.2%
Carter's, Inc.
12,446
753,605
Figs, Inc., Class A *
43,078
280,007
G-III Apparel Group Ltd. *
13,655
376,468
Hanesbrands, Inc. *
118,414
703,379
Kontoor Brands, Inc.
18,966
1,330,465
Levi Strauss & Co., Class A
32,508
595,872
Oxford Industries, Inc. (a)
5,274
555,511
Steven Madden Ltd.
24,001
1,088,205
Wolverine World Wide, Inc.
26,932
400,479
 
6,083,991
Tobacco — 0.2%
Universal Corp.
8,274
441,997
Vector Group Ltd.
46,136
589,618
 
1,031,615
Trading Companies & Distributors — 1.1%
Boise Cascade Co.
13,419
1,906,706
Custom Truck One Source, Inc. *
22,106
110,751
Distribution Solutions Group, Inc. *
3,514
118,598
DNOW, Inc. *
36,006
553,052
Global Industrial Co.
4,507
157,204
GMS, Inc. *
12,948
1,245,986
H&E Equipment Services, Inc.
11,527
602,862
McGrath RentCorp
8,284
909,832
Xometry, Inc., Class A *
14,037
205,361
 
5,810,352
Water Utilities — 0.2%
Middlesex Water Co.
6,029
400,808
SJW Group
9,893
599,615
 
1,000,423
Wireless Telecommunication Services — 0.2%
Gogo, Inc. *
23,164
210,329
Telephone and Data Systems, Inc.
33,701
714,461
United States Cellular Corp. *
4,945
265,794
 
1,190,584
Total Common Stocks
(Cost $462,412,446)
509,702,484
 
NO. OF
RIGHTS
Rights — 0.0% ^
Biotechnology — 0.0% ^
Inhibrx, Inc., CVR ‡ *
10,020
1,453
Mirati Therapeutics, Inc., CVR ‡ *
39,447
27,613
Total Rights
(Cost $29,066)
29,066
 
SHARES
Short-Term Investments — 5.9%
Investment Companies — 1.7%
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (c) (d)
(Cost $8,501,245)
8,501,245
8,501,245
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
 INVESTMENTS
SHARES
VALUE($)
Short-Term Investments — continued
Investment of Cash Collateral from Securities Loaned — 4.2%
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.40% (c) (d)
19,016,193
19,018,095
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.25% (c) (d)
2,906,422
2,906,422
Total Investment of Cash Collateral from Securities Loaned
(Cost $21,923,818)
21,924,517
Total Short-Term Investments
(Cost $30,425,063)
30,425,762
Total Investments — 104.2%
(Cost $492,866,575)
540,157,312
Liabilities in Excess of Other Assets — (4.2)%
(21,989,302
)
NET ASSETS — 100.0%
518,168,010
 
Percentages indicated are based on net assets.
 
Abbreviations
 
ADR
American Depositary Receipt
CVR
Contingent Value Rights
REIT
Real Estate Investment Trust
 
^
Amount rounds to less than 0.1% of net assets.
‡
Value determined using significant unobservable inputs.
 
*
Non-income producing security.
 
(a)
The security or a portion of this security is on loan at July 31, 2024. The total value of securities on loan at July 31, 2024 is $25,270,152.
 
(b)
Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities
offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have
restrictions on resale.
 
(c)
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.
 
(d)
The rate shown is the current yield as of July 31, 2024.
 
Futures contracts outstanding as of July 31, 2024:
 
DESCRIPTION
NUMBER OF
CONTRACTS
EXPIRATION DATE
TRADING CURRENCY
NOTIONAL
AMOUNT ($)
VALUE AND
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
Long Contracts
Russell 2000 E-Mini Index
74
09/20/2024
USD
8,412,690
815,805
 
Abbreviations
 
USD
United States Dollar
JPMorgan BetaBuilders U.S. Small Cap 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.
A market-based approach is primarily used to value the Fund's investments. Investments for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.
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.
JPMorgan BetaBuilders U.S. Small Cap Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF July 31, 2024 (Unaudited) (continued)
The following table represents each valuation input as presented on the Schedule of Portfolio Investments: 
 
 
 
 
 
 
Level 1
Quoted prices
Level 2
Other significant
observable inputs
Level 3
Significant
unobservable inputs
Total
Investments in Securities
Common Stocks
$509,702,484
$—
$—
(a)
$509,702,484
Rights
—
—
29,066
29,066
Short-Term Investments
Investment Companies
8,501,245
—
—
8,501,245
Investment of Cash Collateral from Securities Loaned
21,924,517
—
—
21,924,517
Total Short-Term Investments
30,425,762
—
—
30,425,762
Total Investments in Securities
$540,128,246
$—
$29,066
$540,157,312
Appreciation in Other Financial Instruments
Futures Contracts
$815,805
$—
$—
$815,805
 
 
(a)
Value is zero.
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 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 Securities Lending
Money Market Fund Agency
SL Class Shares, 5.40%
 (a) (b)
$93,001,004
$131,000,001
$205,000,000
$15,692
$1,398
$19,018,095
19,016,193
$2,237,804
$—
JPMorgan U.S. Government
Money Market Fund
Class IM Shares, 5.25%
 (a) (b)
11,142,566
115,885,048
124,121,192
—
—
2,906,422
2,906,422
309,347
—
JPMorgan U.S. Government
Money Market Fund
Class IM Shares, 5.25%
 (a) (b)
3,209,614
70,328,237
65,036,606
—
—
8,501,245
8,501,245
252,408
—
Total
$107,353,184
$317,213,286
$394,157,798
$15,692
$1,398
$30,425,762
$2,799,559
$—
 
 
(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.