Fund
|
Ticker
|
Listing
Exchange
|
JPMorgan
Active Growth ETF |
JGRO |
NYSE
Arca, Inc. |
JPMorgan
Active Small Cap Value ETF |
JPSV |
NYSE
Arca, Inc. |
JPMorgan
Active Value ETF |
JAVA |
NYSE
Arca, Inc. |
JPMorgan
Equity Premium Income ETF |
JEPI |
NYSE
Arca, Inc. |
JPMorgan
Market Expansion Enhanced Equity ETF |
JMEE |
NYSE
Arca, Inc. |
JPMorgan
Nasdaq Equity Premium Income ETF |
JEPQ |
The
NASDAQ Stock Market LLC |
JPMorgan
U.S. Tech Leaders ETF |
JTEK |
The
NASDAQ Stock Market LLC |
|
|
1 | |
2 | |
3 | |
3 | |
6 | |
9 | |
12 | |
15 | |
18 | |
21 | |
24 | |
53 | |
62 | |
64 | |
78 | |
79 | |
83 | |
86 |
![]() |
“Investors
appear to have begun
2024
with a positive outlook, with the
U.S.
economy and its financial
markets
leading global growth.”
—
Brian S. Shlissel
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
1
|
2
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
9.77% |
Market
Price ** |
9.78% |
Russell
1000 Growth Index |
10.59% |
Net
Assets as of 12/31/2023 |
$862,410,523 |
Fund
Ticker |
JGRO |
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Microsoft
Corp. |
10.7
% |
2. |
Amazon.com,
Inc. |
6.5 |
3. |
Apple,
Inc. |
6.1 |
4. |
NVIDIA
Corp. |
4.9 |
5. |
Meta
Platforms, Inc., Class A |
4.9 |
6. |
Alphabet,
Inc., Class C |
4.0 |
7. |
Eli
Lilly & Co. |
3.4 |
8. |
Mastercard,
Inc., Class A |
3.0 |
9. |
Broadcom,
Inc. |
2.5 |
10. |
Tesla,
Inc. |
2.3 |
PORTFOLIO
COMPOSITION
BY
SECTOR AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Information
Technology |
40.3% |
Consumer
Discretionary |
16.2 |
Communication
Services |
12.1 |
Health
Care |
11.1 |
Industrials |
9.2 |
Financials |
6.2 |
Energy |
1.6 |
Consumer
Staples |
0.8 |
Materials |
0.4 |
Short-Term
Investments |
2.1 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
3
|
4
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
INCEPTION
DATE |
SIX
MONTHS* |
1
YEAR |
SINCE
INCEPTION |
JPMorgan
Active Growth ETF |
|
|
| |
Net
Asset Value |
August
8, 2022 |
9.77
% |
37.66
% |
15.73
% |
Market
Price |
|
9.78 |
37.73 |
15.77 |
| |
* |
Not
annualized. |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
5
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
11.57% |
Market
Price ** |
11.56% |
Russell
2000 Value Index |
11.85% |
Net
Assets as of 12/31/2023 |
$14,407,004 |
Fund
Ticker |
JPSV |
6
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Selective
Insurance Group, Inc. |
2.1
% |
2. |
Encompass
Health Corp. |
1.5 |
3. |
Independent
Bank Corp. |
1.4 |
4. |
Patterson
Cos., Inc. |
1.4 |
5. |
HB
Fuller Co. |
1.4 |
6. |
SouthState
Corp. |
1.3 |
7. |
Chord
Energy Corp. |
1.3 |
8. |
Radian
Group, Inc. |
1.3 |
9. |
Safety
Insurance Group, Inc. |
1.3 |
10. |
Matador
Resources Co. |
1.2 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Financials |
25.8% |
Industrials |
17.2 |
Consumer
Discretionary |
9.6 |
Real
Estate |
8.3 |
Energy |
7.0 |
Information
Technology |
6.8 |
Health
Care |
5.5 |
Utilities |
4.7 |
Materials |
4.7 |
Communication
Services |
3.4 |
Consumer
Staples |
3.0 |
Short-Term
Investments |
4.0 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
7
|
|
INCEPTION
DATE |
SIX
MONTHS* |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
Active Small Cap Value ETF |
|
| |
Net
Asset Value |
March
7, 2023 |
11.57
% |
9.92
% |
Market
Price |
|
11.56 |
10.00 |
| |
* |
Not
annualized. |
8
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
5.59% |
Market
Price ** |
5.64% |
Russell
1000 Value Index |
6.03% |
Net
Assets as of 12/31/2023 |
$782,345,993 |
Fund
Ticker |
JAVA |
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Bank
of America Corp. |
3.3
% |
2. |
Wells
Fargo & Co. |
2.2 |
3. |
Chevron
Corp. |
2.2 |
4. |
AbbVie,
Inc. |
1.9 |
5. |
Exxon
Mobil Corp. |
1.9 |
6. |
Berkshire
Hathaway, Inc., Class B |
1.9 |
7. |
Bristol-Myers
Squibb Co. |
1.7 |
8. |
Texas
Instruments, Inc. |
1.5 |
9. |
Comcast
Corp., Class A |
1.4 |
10. |
United
Parcel Service, Inc., Class B |
1.4 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
9
|
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Financials |
23.8% |
Health
Care |
14.3 |
Industrials |
14.1 |
Information
Technology |
7.8 |
Energy |
6.6 |
Consumer
Discretionary |
6.2 |
Communication
Services |
6.0 |
Consumer
Staples |
6.0 |
Materials |
5.7 |
Utilities |
3.9 |
Real
Estate |
2.8 |
Short-Term
Investments |
2.8 |
10
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
INCEPTION
DATE |
SIX
MONTHS* |
1
YEAR |
SINCE
INCEPTION |
JPMorgan
Active Value ETF |
|
|
| |
Net
Asset Value |
October
4, 2021 |
5.59
% |
10.33
% |
6.96
% |
Market
Price |
|
5.64 |
10.45 |
6.99 |
| |
* |
Not
annualized. |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
11
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
4.14% |
Market
Price ** |
4.08% |
S&P
500 Index |
8.04% |
ICE
BofA 3-Month US Treasury Bill Index |
2.71% |
Net
Assets as of 12/31/2023 |
$30,543,085,184 |
Fund
Ticker |
JEPI |
12
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Amazon.com,
Inc. |
1.7
% |
2. |
Microsoft
Corp. |
1.7 |
3. |
Intuit,
Inc. |
1.6 |
4. |
Trane
Technologies plc |
1.6 |
5. |
Progressive
Corp. (The) |
1.6 |
6. |
Mastercard,
Inc., Class A |
1.5 |
7. |
Accenture
plc, Class A |
1.5 |
8. |
Adobe,
Inc. |
1.5 |
9. |
Visa,
Inc., Class A |
1.5 |
10. |
AbbVie,
Inc. |
1.4 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Information
Technology |
14.8% |
Financials |
12.1 |
Industrials |
11.8 |
Health
Care |
11.8 |
Consumer
Staples |
10.7 |
Consumer
Discretionary |
7.6 |
Communication
Services |
4.2 |
Utilities |
4.1 |
Real
Estate |
3.1 |
Materials |
3.0 |
Energy |
2.5 |
Other **** |
13.7 |
Short-Term
Investments |
0.6 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
13
|
|
INCEPTION
DATE |
SIX
MONTHS* |
1
YEAR |
SINCE
INCEPTION |
JPMorgan
Equity Premium Income ETF |
|
|
| |
Net
Asset Value |
May 20,
2020 |
4.14
% |
9.88
% |
12.37
% |
Market
Price |
|
4.08 |
9.81 |
12.37 |
| |
* |
Not
annualized. |
14
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
8.36% |
Market
Price ** |
8.41% |
S&P
1000 Index |
7.74% |
Net
Assets as of 12/31/2023 |
$956,081,216 |
Fund
Ticker |
JMEE |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
15
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Jabil,
Inc. |
0.9
% |
2. |
Builders
FirstSource, Inc. |
0.8 |
3. |
Reliance
Steel & Aluminum Co. |
0.6 |
4. |
GoDaddy,
Inc., Class A |
0.6 |
5. |
United
Therapeutics Corp. |
0.6 |
6. |
Exelixis,
Inc. |
0.5 |
7. |
Deckers
Outdoor Corp. |
0.5 |
8. |
Fabrinet
(Thailand) |
0.5 |
9. |
Toll
Brothers, Inc. |
0.5 |
10. |
Super
Micro Computer, Inc. |
0.5 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Industrials |
19.7% |
Consumer
Discretionary |
14.5 |
Financials |
14.3 |
Information
Technology |
11.1 |
Real
Estate |
8.0 |
Health
Care |
7.4 |
Materials |
5.1 |
Energy |
4.5 |
Consumer
Staples |
4.1 |
Utilities |
2.4 |
Communication
Services |
1.1 |
Short-Term
Investments |
7.8 |
16
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
INCEPTION
DATE |
SIX
MONTHS* |
1
YEAR |
5
YEAR |
10
YEAR |
JPMorgan
Market Expansion Enhanced Equity ETF |
|
|
|
|
|
Net
Asset Value |
July
31, 1998** |
8.36
% |
17.89
% |
12.56
% |
9.02
% |
Market
Price |
|
8.41 |
18.09 |
12.59 |
9.04 |
| |
* |
Not
annualized. |
** |
Inception
date for Class I Shares of the Predecessor Fund (as defined
below). |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
17
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
9.51% |
Market
Price ** |
9.45% |
Nasdaq-100
Index® |
11.32% |
ICE
BofA 3-Month US Treasury Bill Index |
2.71% |
Net
Assets as of 12/31/2023 |
$8,485,006,475 |
Fund
Ticker |
JEPQ |
18
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Microsoft
Corp. |
7.5
% |
2. |
Apple,
Inc. |
7.1 |
3. |
Amazon.com,
Inc. |
4.4 |
4. |
Alphabet,
Inc., Class C |
4.3 |
5. |
The
Bank of Nova Scotia, ELN, 54.70%,
2/2/2024,
(linked to Nasdaq-100 Index)
54.70,
2/02/2024 (Canada) |
3.5 |
6. |
BNP
Paribas, ELN, 55.52%, 1/26/2024,
(linked
to S&P 500 Index) 55.52,
1/26/2024
|
3.5 |
7. |
Meta
Platforms, Inc., Class A |
3.5 |
8. |
NVIDIA
Corp. |
3.3 |
9. |
Royal
Bank of Canada, ELN, 51.66%,
1/19/2024,
(linked to S&P 500 Index)
51.66,
1/19/2024 (Canada) |
3.2 |
10. |
Tesla,
Inc. |
2.9 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Information
Technology |
40.9% |
Communication
Services |
12.6 |
Consumer
Discretionary |
12.3 |
Health
Care |
5.9 |
Consumer
Staples |
5.7 |
Industrials |
3.8 |
Utilities |
1.1 |
Financials |
0.8 |
Energy |
0.3 |
Real
Estate |
0.3 |
Other **** |
15.8 |
Short-Term
Investments |
0.5 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
19
|
|
INCEPTION
DATE |
SIX
MONTHS* |
1
YEAR |
SINCE
INCEPTION |
JPMorgan
Nasdaq Equity Premium Income ETF |
|
|
| |
Net
Asset Value |
May 3,
2022 |
9.51
% |
36.28
% |
12.27
% |
Market
Price |
|
9.45 |
36.23 |
12.28 |
| |
* |
Not
annualized. |
20
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
17.62% |
Market
Price ** |
17.60% |
S&P
500 Index |
12.32% |
Russell
1000 Equal Weight Technology Index |
17.53% |
Net
Assets as of 12/31/2023 |
$191,119,914 |
Fund
Ticker |
JTEK |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
21
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Meta
Platforms, Inc., Class A |
5.2
% |
2. |
NVIDIA
Corp. |
4.1 |
3. |
Tesla,
Inc. |
3.9 |
4. |
Synopsys,
Inc. |
3.5 |
5. |
Advanced
Micro Devices, Inc. |
3.4 |
6. |
Amazon.com,
Inc. |
3.2 |
7. |
Alphabet,
Inc., Class C |
3.2 |
8. |
Netflix,
Inc. |
3.1 |
9. |
Uber
Technologies, Inc. |
2.8 |
10. |
Shopify,
Inc., Class A (Canada) |
2.7 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF December
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Information
Technology |
66.6% |
Communication
Services |
14.7 |
Consumer
Discretionary |
10.4 |
Industrials |
3.2 |
Real
Estate |
1.6 |
Health
Care |
1.5 |
Others
(each less than 1.0%) |
0.8 |
Short-Term
Investments |
1.2 |
22
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
INCEPTION
DATE |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
U.S. Tech Leaders ETF |
| |
Net
Asset Value |
October
4, 2023 |
17.62
% |
Market
Price |
|
17.60 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
23
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 97.9% | ||
Aerospace
& Defense — 0.7% | ||
TransDigm
Group, Inc. |
5,834 |
5,901,674 |
Automobiles
— 2.3% | ||
Tesla,
Inc. * |
81,787 |
20,322,434 |
Beverages
— 0.8% | ||
Celsius
Holdings, Inc. * |
53,189 |
2,899,864 |
Constellation
Brands, Inc., Class A |
9,115 |
2,203,551 |
Monster
Beverage Corp. * |
25,219 |
1,452,867 |
|
|
6,556,282 |
Biotechnology
— 3.4% | ||
Alnylam
Pharmaceuticals, Inc. * |
17,385 |
3,327,663 |
Exact
Sciences Corp. * |
89,642 |
6,631,715 |
Moderna,
Inc. * |
5,292 |
526,289 |
Natera,
Inc. * |
33,525 |
2,100,006 |
Regeneron
Pharmaceuticals, Inc. * |
19,428 |
17,063,418 |
|
|
29,649,091 |
Broadline
Retail — 7.3% | ||
Amazon.com,
Inc. * |
367,959 |
55,907,690 |
MercadoLibre,
Inc. (Brazil) * |
4,335 |
6,812,626 |
|
|
62,720,316 |
Building
Products — 1.2% | ||
Trane
Technologies plc |
42,988 |
10,484,773 |
Capital
Markets — 2.7% | ||
Blackstone,
Inc. |
72,929 |
9,547,865 |
Charles
Schwab Corp. (The) |
9,256 |
636,813 |
Morgan
Stanley |
77,786 |
7,253,545 |
MSCI,
Inc. |
1,276 |
721,769 |
S&P
Global, Inc. |
12,293 |
5,415,312 |
|
|
23,575,304 |
Commercial
Services & Supplies — 0.5% | ||
Copart,
Inc. * |
90,355 |
4,427,395 |
Communications
Equipment — 0.7% | ||
Arista
Networks, Inc. * |
25,589 |
6,026,465 |
Construction
& Engineering — 1.1% | ||
AECOM |
22,351 |
2,065,903 |
Quanta
Services, Inc. |
34,930 |
7,537,894 |
|
|
9,603,797 |
Distributors
— 0.2% | ||
Pool
Corp. |
4,203 |
1,675,778 |
Electrical
Equipment — 1.6% | ||
AMETEK,
Inc. |
26,133 |
4,309,070 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Electrical
Equipment — continued | ||
Eaton
Corp. plc |
29,705 |
7,153,558 |
Hubbell,
Inc., Class B |
6,166 |
2,028,183 |
|
|
13,490,811 |
Electronic
Equipment, Instruments & Components — 1.1% | ||
Amphenol
Corp., Class A |
42,667 |
4,229,580 |
Jabil,
Inc. |
43,346 |
5,522,280 |
|
|
9,751,860 |
Energy
Equipment & Services — 0.4% | ||
TechnipFMC
plc (United Kingdom) |
188,143 |
3,789,200 |
Entertainment
— 2.5% | ||
Netflix,
Inc. * |
33,067 |
16,099,661 |
Spotify
Technology SA * |
7,724 |
1,451,417 |
Take-Two
Interactive Software, Inc. * |
27,738 |
4,464,431 |
|
|
22,015,509 |
Financial
Services — 3.0% | ||
Block,
Inc. * |
7,568 |
585,385 |
Mastercard,
Inc., Class A |
60,342 |
25,736,466 |
|
|
26,321,851 |
Ground
Transportation — 2.4% | ||
JB
Hunt Transport Services, Inc. |
13,899 |
2,776,186 |
Old
Dominion Freight Line, Inc. |
7,059 |
2,861,224 |
Uber
Technologies, Inc. * |
250,915 |
15,448,837 |
|
|
21,086,247 |
Health
Care Equipment & Supplies — 1.5% | ||
Align
Technology, Inc. * |
9,484 |
2,598,616 |
Cooper
Cos., Inc. (The) |
7,620 |
2,883,713 |
Edwards
Lifesciences Corp. * |
15,108 |
1,151,985 |
Intuitive
Surgical, Inc. * |
18,030 |
6,082,601 |
|
|
12,716,915 |
Health
Care Providers & Services — 2.0% | ||
HCA
Healthcare, Inc. |
3,584 |
970,117 |
McKesson
Corp. |
16,549 |
7,661,856 |
UnitedHealth
Group, Inc. |
16,465 |
8,668,329 |
|
|
17,300,302 |
Hotels,
Restaurants & Leisure — 2.9% | ||
Airbnb,
Inc., Class A * |
11,312 |
1,540,016 |
Booking
Holdings, Inc. * |
1,425 |
5,054,788 |
Chipotle
Mexican Grill, Inc. * |
2,298 |
5,255,434 |
DoorDash,
Inc., Class A * |
25,459 |
2,517,640 |
Hilton
Worldwide Holdings, Inc. |
16,231 |
2,955,503 |
24
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Hotels,
Restaurants & Leisure — continued | ||
Marriott
International, Inc., Class A |
25,431 |
5,734,945 |
Starbucks
Corp. |
22,557 |
2,165,698 |
|
|
25,224,024 |
Household
Durables — 0.6% | ||
DR
Horton, Inc. |
17,885 |
2,718,162 |
Garmin
Ltd. |
18,762 |
2,411,668 |
|
|
5,129,830 |
Insurance
— 0.4% | ||
Progressive
Corp. (The) |
24,524 |
3,906,183 |
Interactive
Media & Services — 8.9% | ||
Alphabet,
Inc., Class C * |
242,172 |
34,129,300 |
Meta
Platforms, Inc., Class A * |
119,453 |
42,281,584 |
|
|
76,410,884 |
IT
Services — 2.0% | ||
Cognizant
Technology Solutions Corp., Class A |
27,031 |
2,041,651 |
MongoDB,
Inc. * |
12,427 |
5,080,779 |
Shopify,
Inc., Class A (Canada) * |
83,064 |
6,470,686 |
Snowflake,
Inc., Class A * |
17,132 |
3,409,268 |
|
|
17,002,384 |
Life
Sciences Tools & Services — 0.7% | ||
Mettler-Toledo
International, Inc. * |
966 |
1,171,720 |
Thermo
Fisher Scientific, Inc. |
8,551 |
4,538,785 |
|
|
5,710,505 |
Machinery
— 0.8% | ||
Deere
& Co. |
7,179 |
2,870,667 |
Ingersoll
Rand, Inc. |
51,148 |
3,955,786 |
|
|
6,826,453 |
Media
— 0.7% | ||
Trade
Desk, Inc. (The), Class A * |
86,183 |
6,201,729 |
Metals
& Mining — 0.4% | ||
Freeport-McMoRan,
Inc. |
74,680 |
3,179,128 |
Oil,
Gas & Consumable Fuels — 1.2% | ||
Cheniere
Energy, Inc. |
30,046 |
5,129,153 |
ConocoPhillips |
21,086 |
2,447,452 |
EOG
Resources, Inc. |
20,911 |
2,529,185 |
|
|
10,105,790 |
Personal
Care Products — 0.0% ^ | ||
Estee
Lauder Cos., Inc. (The), Class A |
1,592 |
232,830 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Pharmaceuticals
— 3.6% | ||
Eli
Lilly & Co. |
49,621 |
28,925,073 |
Royalty
Pharma plc, Class A |
64,487 |
1,811,440 |
|
|
30,736,513 |
Professional
Services — 0.4% | ||
Booz
Allen Hamilton Holding Corp. |
25,285 |
3,234,204 |
Semiconductors
& Semiconductor Equipment — 10.3% | ||
Advanced
Micro Devices, Inc. * |
64,306 |
9,479,347 |
ASML
Holding NV (Registered), NYRS
(Netherlands) |
1,962 |
1,485,077 |
Broadcom,
Inc. |
19,376 |
21,628,460 |
Entegris,
Inc. |
24,290 |
2,910,428 |
First
Solar, Inc. * |
5,175 |
891,549 |
Lam
Research Corp. |
11,233 |
8,798,359 |
NVIDIA
Corp. |
85,409 |
42,296,245 |
ON
Semiconductor Corp. * |
18,873 |
1,576,462 |
|
|
89,065,927 |
Software
— 20.1% | ||
Adobe,
Inc. * |
12,779 |
7,623,951 |
Cadence
Design Systems, Inc. * |
9,633 |
2,623,740 |
Confluent,
Inc., Class A * |
86,389 |
2,021,503 |
Crowdstrike
Holdings, Inc., Class A * |
13,409 |
3,423,586 |
HubSpot,
Inc. * |
10,085 |
5,854,746 |
Intuit,
Inc. |
20,683 |
12,927,495 |
Microsoft
Corp. |
246,116 |
92,549,461 |
Oracle
Corp. |
92,185 |
9,719,065 |
Palo
Alto Networks, Inc. * |
31,621 |
9,324,400 |
Salesforce,
Inc. * |
28,416 |
7,477,386 |
ServiceNow,
Inc. * |
5,327 |
3,763,472 |
Synopsys,
Inc. * |
17,578 |
9,051,088 |
Workday,
Inc., Class A * |
24,893 |
6,871,962 |
|
|
173,231,855 |
Specialty
Retail — 2.5% | ||
AutoZone,
Inc. * |
1,336 |
3,454,375 |
Lowe's
Cos., Inc. |
39,982 |
8,897,994 |
Ross
Stores, Inc. |
26,955 |
3,730,302 |
TJX
Cos., Inc. (The) |
55,091 |
5,168,087 |
|
|
21,250,758 |
Technology
Hardware, Storage & Peripherals — 6.1% | ||
Apple,
Inc. |
274,535 |
52,856,224 |
Textiles,
Apparel & Luxury Goods — 0.4% | ||
Lululemon
Athletica, Inc. * |
6,016 |
3,075,921 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
25
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Trading
Companies & Distributors — 0.5% | ||
Air
Lease Corp., Class A |
35,058 |
1,470,333 |
WW
Grainger, Inc. |
3,051 |
2,528,333 |
|
|
3,998,666 |
Total
Common Stocks
(Cost
$710,409,670) |
|
844,795,812 |
Short-Term
Investments — 2.1% | ||
Investment
Companies — 2.1% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.30% (a)
(b)
(Cost
$17,759,640) |
17,759,640 |
17,759,640 |
Total
Investments — 100.0%
(Cost
$728,169,310) |
|
862,555,452 |
Liabilities
in Excess of Other Assets —
(0.0)%
^ |
|
(144,929
) |
NET
ASSETS — 100.0% |
|
862,410,523 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
NYRS |
New
York Registry Shares |
^ |
Amount
rounds to less than 0.1% of net assets. | |
* |
Non-income
producing security.
|
|
(a) |
Investment
in an affiliated fund, which is registered
under
the Investment Company Act of 1940, as
amended,
and is advised by J.P. Morgan Investment
Management
Inc. |
|
(b) |
The
rate shown is the current yield as of December
31,
2023. |
|
26
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 96.2% | ||
Aerospace
& Defense — 1.1% | ||
Cadre
Holdings, Inc. |
1,994 |
65,583 |
Moog,
Inc., Class A |
653 |
94,541 |
|
|
160,124 |
Automobile
Components — 0.9% | ||
Atmus
Filtration Technologies, Inc. *
(a) |
2,029 |
47,661 |
Patrick
Industries, Inc. |
814 |
81,685 |
|
|
129,346 |
Banks
— 16.4% | ||
BancFirst
Corp. |
756 |
73,581 |
Camden
National Corp. |
2,201 |
82,824 |
City
Holding Co. |
991 |
109,268 |
Columbia
Banking System, Inc. |
6,744 |
179,930 |
First
Busey Corp. |
7,044 |
174,832 |
First
Commonwealth Financial Corp. |
7,459 |
115,167 |
First
Merchants Corp. |
3,667 |
135,972 |
Heritage
Commerce Corp. |
11,182 |
110,916 |
Independent
Bank Corp. |
2,110 |
138,859 |
Independent
Bank Corp. |
7,798 |
202,904 |
Lakeland
Bancorp, Inc. |
6,115 |
90,441 |
Old
National Bancorp |
10,102 |
170,623 |
Premier
Financial Corp. |
5,873 |
141,539 |
QCR
Holdings, Inc. |
1,119 |
65,338 |
Simmons
First National Corp., Class A |
4,480 |
88,883 |
SouthState
Corp. |
2,242 |
189,337 |
TriCo
Bancshares |
3,130 |
134,496 |
WSFS
Financial Corp. |
3,540 |
162,592 |
|
|
2,367,502 |
Beverages
— 1.0% | ||
Primo
Water Corp. |
9,857 |
148,348 |
Building
Products — 4.0% | ||
AZZ,
Inc. |
2,447 |
142,146 |
CSW
Industrials, Inc. |
700 |
145,187 |
Hayward
Holdings, Inc. * |
9,829 |
133,675 |
UFP
Industries, Inc. |
1,257 |
157,816 |
|
|
578,824 |
Capital
Markets — 3.2% | ||
Donnelley
Financial Solutions, Inc. * |
1,900 |
118,503 |
Hamilton
Lane, Inc., Class A |
687 |
77,933 |
LPL
Financial Holdings, Inc. |
507 |
115,403 |
Virtus
Investment Partners, Inc. |
615 |
148,683 |
|
|
460,522 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Chemicals
— 4.7% | ||
Hawkins,
Inc. |
1,457 |
102,602 |
HB
Fuller Co. |
2,425 |
197,419 |
Innospec,
Inc. |
1,322 |
162,923 |
Quaker
Chemical Corp. |
395 |
84,301 |
Stepan
Co. |
1,322 |
124,995 |
|
|
672,240 |
Construction
& Engineering — 1.0% | ||
Comfort
Systems USA, Inc. |
729 |
149,933 |
Diversified
Telecommunication Services — 1.0% | ||
Iridium
Communications, Inc. |
3,530 |
145,295 |
Electric
Utilities — 0.7% | ||
Portland
General Electric Co. |
2,388 |
103,496 |
Electronic
Equipment, Instruments & Components — 4.1% | ||
Insight
Enterprises, Inc. * |
422 |
74,774 |
Knowles
Corp. * |
7,660 |
137,191 |
Plexus
Corp. * |
663 |
71,690 |
TTM
Technologies, Inc. * |
10,357 |
163,744 |
Vishay
Intertechnology, Inc. |
6,247 |
149,741 |
|
|
597,140 |
Energy
Equipment & Services — 2.3% | ||
Cactus,
Inc., Class A |
1,832 |
83,173 |
ChampionX
Corp. |
5,189 |
151,571 |
Noble
Corp. plc |
1,124 |
54,132 |
Weatherford
International plc * |
398 |
38,936 |
|
|
327,812 |
Financial
Services — 2.5% | ||
PennyMac
Financial Services, Inc. |
1,888 |
166,842 |
Radian
Group, Inc. |
6,498 |
185,518 |
|
|
352,360 |
Food
Products — 0.6% | ||
Flowers
Foods, Inc. |
3,666 |
82,522 |
Gas
Utilities — 2.2% | ||
Chesapeake
Utilities Corp. |
1,203 |
127,073 |
ONE
Gas, Inc. |
2,262 |
144,135 |
Southwest
Gas Holdings, Inc. |
812 |
51,440 |
|
|
322,648 |
Ground
Transportation — 1.0% | ||
Marten
Transport Ltd. |
7,068 |
148,287 |
Health
Care Equipment & Supplies — 0.7% | ||
Utah
Medical Products, Inc. |
1,119 |
94,242 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
27
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Health
Care Providers & Services — 3.8% | ||
Encompass
Health Corp. |
3,151 |
210,235 |
Ensign
Group, Inc. (The) |
1,220 |
136,896 |
Patterson
Cos., Inc. |
6,977 |
198,496 |
|
|
545,627 |
Health
Care REITs — 0.8% | ||
CareTrust
REIT, Inc. |
5,278 |
118,122 |
Hotel
& Resort REITs — 1.0% | ||
RLJ
Lodging Trust |
6,232 |
73,039 |
Sunstone
Hotel Investors, Inc. |
6,625 |
71,086 |
|
|
144,125 |
Hotels,
Restaurants & Leisure — 1.5% | ||
Bloomin'
Brands, Inc. |
2,746 |
77,300 |
Everi
Holdings, Inc. * |
8,076 |
91,016 |
Jack
in the Box, Inc. |
663 |
54,121 |
|
|
222,437 |
Household
Durables — 2.1% | ||
La-Z-Boy,
Inc. |
2,237 |
82,590 |
M/I
Homes, Inc. * |
1,017 |
140,082 |
MDC
Holdings, Inc. |
1,428 |
78,897 |
|
|
301,569 |
Industrial
REITs — 1.4% | ||
Plymouth
Industrial REIT, Inc. |
4,076 |
98,109 |
Terreno
Realty Corp. |
1,700 |
106,539 |
|
|
204,648 |
Insurance
— 3.4% | ||
Safety
Insurance Group, Inc. |
2,408 |
182,984 |
Selective
Insurance Group, Inc. |
3,013 |
299,733 |
|
|
482,717 |
Interactive
Media & Services — 1.3% | ||
IAC,
Inc. * |
2,311 |
121,050 |
TripAdvisor,
Inc. * |
2,731 |
58,799 |
|
|
179,849 |
Life
Sciences Tools & Services — 0.5% | ||
Fortrea
Holdings, Inc. * |
2,005 |
69,975 |
Machinery
— 5.8% | ||
Alamo
Group, Inc. |
772 |
162,267 |
Douglas
Dynamics, Inc. |
2,327 |
69,065 |
Enpro
Inc. |
626 |
98,119 |
Kadant,
Inc. |
549 |
153,890 |
Mueller
Industries, Inc. |
2,680 |
126,362 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Machinery
— continued | ||
Toro
Co. (The) |
817 |
78,424 |
Watts
Water Technologies, Inc., Class A |
729 |
151,880 |
|
|
840,007 |
Media
— 1.2% | ||
John
Wiley & Sons, Inc., Class A |
5,256 |
166,825 |
Mortgage
Real Estate Investment Trusts (REITs) — 0.4% | ||
Ladder
Capital Corp. |
5,257 |
60,508 |
Multi-Utilities
— 0.9% | ||
Unitil
Corp. |
2,379 |
125,064 |
Office
REITs — 1.7% | ||
Equity
Commonwealth |
7,666 |
147,187 |
Highwoods
Properties, Inc. |
4,113 |
94,435 |
|
|
241,622 |
Oil,
Gas & Consumable Fuels — 4.8% | ||
Chord
Energy Corp. |
1,122 |
186,510 |
CNX
Resources Corp. * |
4,059 |
81,180 |
Equitrans
Midstream Corp. |
9,066 |
92,292 |
Magnolia
Oil & Gas Corp., Class A |
6,697 |
142,579 |
Matador
Resources Co. |
3,186 |
181,156 |
|
|
683,717 |
Personal
Care Products — 1.4% | ||
Edgewell
Personal Care Co. |
3,359 |
123,040 |
Inter
Parfums, Inc. |
586 |
84,390 |
|
|
207,430 |
Pharmaceuticals
— 0.6% | ||
Prestige
Consumer Healthcare, Inc. * |
1,305 |
79,892 |
Professional
Services — 1.1% | ||
ASGN,
Inc. * |
1,119 |
107,614 |
Verra
Mobility Corp., Class A * |
2,302 |
53,015 |
|
|
160,629 |
Residential
REITs — 1.2% | ||
American
Homes 4 Rent, Class A |
2,438 |
87,670 |
Centerspace |
1,459 |
84,914 |
|
|
172,584 |
Retail
REITs — 2.2% | ||
Agree
Realty Corp. |
2,843 |
178,967 |
Kite
Realty Group Trust |
6,098 |
139,400 |
|
|
318,367 |
Semiconductors
& Semiconductor Equipment — 2.7% | ||
Amkor
Technology, Inc. |
2,855 |
94,986 |
28
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Semiconductors
& Semiconductor Equipment — continued | ||
Cohu,
Inc. * |
4,001 |
141,596 |
Synaptics,
Inc. * |
1,341 |
152,981 |
|
|
389,563 |
Specialty
Retail — 1.7% | ||
Group
1 Automotive, Inc. |
537 |
163,646 |
Urban
Outfitters, Inc. * |
2,386 |
85,156 |
|
|
248,802 |
Textiles,
Apparel & Luxury Goods — 3.3% | ||
Carter's,
Inc. |
1,607 |
120,348 |
Kontoor
Brands, Inc. |
2,338 |
145,938 |
Movado
Group, Inc. |
1,934 |
58,310 |
Steven
Madden Ltd. |
3,704 |
155,568 |
|
|
480,164 |
Trading
Companies & Distributors — 3.1% | ||
Applied
Industrial Technologies, Inc. |
815 |
140,742 |
Beacon
Roofing Supply, Inc. * |
1,741 |
151,502 |
McGrath
RentCorp |
1,309 |
156,583 |
|
|
448,827 |
Water
Utilities — 0.9% | ||
American
States Water Co. |
1,627 |
130,843 |
Total
Common Stocks
(Cost
$12,812,933) |
|
13,864,554 |
Short-Term
Investments — 4.0% | ||
Investment
Companies — 3.7% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.30% (b)
(c)
(Cost
$535,500) |
535,500 |
535,500 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Investment
of Cash Collateral from Securities Loaned — 0.3% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.30% (b)
(c)
(Cost
$38,770) |
38,770 |
38,770 |
Total
Short-Term Investments
(Cost
$574,270) |
|
574,270 |
Total
Investments — 100.2%
(Cost
$13,387,203) |
|
14,438,824 |
Liabilities
in Excess of Other Assets — (0.2)% |
|
(31,820
) |
NET
ASSETS — 100.0% |
|
14,407,004 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
The
security or a portion of this security is on loan at December
31,
2023. The total value of securities on loan at December 31,
2023
is $38,265. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of December 31,
2023. |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
29
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 97.1% | ||
Aerospace
& Defense — 2.9% | ||
Boeing
Co. (The) * |
28,216 |
7,354,783 |
General
Dynamics Corp. |
17,707 |
4,597,977 |
Howmet
Aerospace, Inc. |
27,076 |
1,465,353 |
Northrop
Grumman Corp. |
9,700 |
4,540,958 |
RTX
Corp. |
52,137 |
4,386,807 |
|
|
22,345,878 |
Air
Freight & Logistics — 1.8% | ||
FedEx
Corp. |
13,547 |
3,426,984 |
United
Parcel Service, Inc., Class B |
70,520 |
11,087,860 |
|
|
14,514,844 |
Banks
— 10.5% | ||
Bank
of America Corp. |
757,357 |
25,500,210 |
Citigroup,
Inc. |
152,599 |
7,849,693 |
Fifth
Third Bancorp |
148,856 |
5,134,043 |
M&T
Bank Corp. |
26,440 |
3,624,395 |
PNC
Financial Services Group, Inc. (The) |
50,412 |
7,806,298 |
Truist
Financial Corp. |
266,493 |
9,838,922 |
US
Bancorp |
104,088 |
4,504,929 |
Wells
Fargo & Co. |
358,223 |
17,631,736 |
|
|
81,890,226 |
Beverages
— 0.6% | ||
Keurig
Dr Pepper, Inc. |
45,648 |
1,520,991 |
PepsiCo,
Inc. |
17,257 |
2,930,929 |
|
|
4,451,920 |
Biotechnology
— 3.9% | ||
AbbVie,
Inc. |
96,395 |
14,938,333 |
Biogen,
Inc. * |
22,121 |
5,724,251 |
BioMarin
Pharmaceutical, Inc. * |
19,966 |
1,925,122 |
Regeneron
Pharmaceuticals, Inc. * |
3,430 |
3,012,535 |
Vertex
Pharmaceuticals, Inc. * |
12,211 |
4,968,534 |
|
|
30,568,775 |
Building
Products — 1.4% | ||
Carrier
Global Corp. |
117,349 |
6,741,700 |
Masco
Corp. |
63,939 |
4,282,634 |
|
|
11,024,334 |
Capital
Markets — 5.6% | ||
BlackRock,
Inc. |
9,796 |
7,952,393 |
Charles
Schwab Corp. (The) |
124,509 |
8,566,219 |
Goldman
Sachs Group, Inc. (The) |
22,783 |
8,788,998 |
Intercontinental
Exchange, Inc. |
15,675 |
2,013,140 |
Morgan
Stanley |
80,579 |
7,513,992 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Capital
Markets — continued | ||
Raymond
James Financial, Inc. |
51,606 |
5,754,069 |
S&P
Global, Inc. |
6,885 |
3,032,980 |
|
|
43,621,791 |
Chemicals
— 3.4% | ||
Air
Products and Chemicals, Inc. |
31,009 |
8,490,264 |
Axalta
Coating Systems Ltd. * |
226,763 |
7,703,139 |
Chemours
Co. (The) |
184,371 |
5,815,062 |
FMC
Corp. |
70,806 |
4,464,318 |
|
|
26,472,783 |
Commercial
Services & Supplies — 0.4% | ||
Republic
Services, Inc. |
21,521 |
3,549,028 |
Construction
Materials — 0.7% | ||
Vulcan
Materials Co. |
23,593 |
5,355,847 |
Consumer
Finance — 0.8% | ||
American
Express Co. |
25,680 |
4,810,891 |
Capital
One Financial Corp. |
10,533 |
1,381,087 |
|
|
6,191,978 |
Consumer
Staples Distribution & Retail — 2.9% | ||
BJ's
Wholesale Club Holdings, Inc. * |
44,130 |
2,941,706 |
Dollar
General Corp. |
18,048 |
2,453,626 |
Dollar
Tree, Inc. * |
13,924 |
1,977,904 |
Performance
Food Group Co. * |
73,848 |
5,106,589 |
Walmart,
Inc. |
64,075 |
10,101,424 |
|
|
22,581,249 |
Containers
& Packaging — 1.0% | ||
Ball
Corp. |
27,654 |
1,590,658 |
Graphic
Packaging Holding Co. |
76,837 |
1,894,032 |
Silgan
Holdings, Inc. |
93,074 |
4,211,599 |
|
|
7,696,289 |
Diversified
Telecommunication Services — 0.2% | ||
AT&T,
Inc. |
109,424 |
1,836,135 |
Electric
Utilities — 2.0% | ||
Entergy
Corp. |
68,126 |
6,893,670 |
NextEra
Energy, Inc. |
100,661 |
6,114,149 |
Xcel
Energy, Inc. |
49,522 |
3,065,907 |
|
|
16,073,726 |
Electrical
Equipment — 1.6% | ||
Eaton
Corp. plc |
22,585 |
5,438,920 |
30
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Electrical
Equipment — continued | ||
Emerson
Electric Co. |
65,657 |
6,390,396 |
Vertiv
Holdings Co., Class A |
17,889 |
859,208 |
|
|
12,688,524 |
Entertainment
— 1.4% | ||
Endeavor
Group Holdings, Inc., Class A |
90,250 |
2,141,632 |
Walt
Disney Co. (The) * |
66,679 |
6,020,447 |
Warner
Bros Discovery, Inc. * |
231,281 |
2,631,978 |
|
|
10,794,057 |
Financial
Services — 3.8% | ||
Berkshire
Hathaway, Inc., Class B * |
40,962 |
14,609,507 |
Fidelity
National Information Services, Inc. |
84,044 |
5,048,523 |
Fiserv,
Inc. * |
67,591 |
8,978,789 |
Rocket
Cos., Inc., Class A * |
56,769 |
822,015 |
|
|
29,458,834 |
Food
Products — 0.9% | ||
Lamb
Weston Holdings, Inc. |
36,671 |
3,963,768 |
Mondelez
International, Inc., Class A |
44,856 |
3,248,920 |
|
|
7,212,688 |
Ground
Transportation — 1.7% | ||
CSX
Corp. |
302,112 |
10,474,223 |
Knight-Swift
Transportation Holdings, Inc. |
25,837 |
1,489,503 |
Union
Pacific Corp. |
6,359 |
1,561,898 |
|
|
13,525,624 |
Health
Care Equipment & Supplies — 3.1% | ||
Baxter
International, Inc. |
45,889 |
1,774,069 |
Becton
Dickinson & Co. |
11,787 |
2,874,024 |
Boston
Scientific Corp. * |
73,180 |
4,230,536 |
Medtronic
plc |
109,930 |
9,056,033 |
Zimmer
Biomet Holdings, Inc. |
50,119 |
6,099,482 |
|
|
24,034,144 |
Health
Care Providers & Services — 3.9% | ||
Centene
Corp. * |
92,945 |
6,897,449 |
Cigna
Group (The) |
11,827 |
3,541,595 |
CVS
Health Corp. |
59,720 |
4,715,491 |
Elevance
Health, Inc. |
4,395 |
2,072,506 |
Humana,
Inc. |
7,021 |
3,214,284 |
UnitedHealth
Group, Inc. |
15,780 |
8,307,697 |
Universal
Health Services, Inc., Class B |
10,660 |
1,625,010 |
|
|
30,374,032 |
Health
Care REITs — 0.4% | ||
Ventas,
Inc. |
58,316 |
2,906,469 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Hotel
& Resort REITs — 0.3% | ||
Host
Hotels & Resorts, Inc. |
109,391 |
2,129,843 |
Hotels,
Restaurants & Leisure — 1.4% | ||
Booking
Holdings, Inc. * |
542 |
1,922,593 |
Carnival
Corp. * |
69,406 |
1,286,787 |
McDonald's
Corp. |
14,601 |
4,329,343 |
Royal
Caribbean Cruises Ltd. * |
28,030 |
3,629,605 |
|
|
11,168,328 |
Household
Durables — 0.2% | ||
Lennar
Corp., Class A |
10,277 |
1,531,684 |
Household
Products — 0.6% | ||
Procter
& Gamble Co. (The) |
32,366 |
4,742,914 |
Industrial
Conglomerates — 0.7% | ||
Honeywell
International, Inc. |
27,342 |
5,733,891 |
Insurance
— 3.2% | ||
Chubb
Ltd. |
18,114 |
4,093,764 |
Hartford
Financial Services Group, Inc. (The) |
47,797 |
3,841,923 |
Marsh
& McLennan Cos., Inc. |
10,882 |
2,061,813 |
MetLife,
Inc. |
102,069 |
6,749,823 |
Prudential
Financial, Inc. |
16,986 |
1,761,618 |
Travelers
Cos., Inc. (The) |
33,803 |
6,439,133 |
|
|
24,948,074 |
Interactive
Media & Services — 1.5% | ||
Alphabet,
Inc., Class C * |
27,858 |
3,926,028 |
Meta
Platforms, Inc., Class A * |
22,748 |
8,051,882 |
|
|
11,977,910 |
IT
Services — 0.4% | ||
International
Business Machines Corp. |
17,558 |
2,871,611 |
Life
Sciences Tools & Services — 0.4% | ||
Thermo
Fisher Scientific, Inc. |
5,419 |
2,876,351 |
Machinery
— 1.4% | ||
Dover
Corp. |
36,989 |
5,689,278 |
Middleby
Corp. (The) * |
14,255 |
2,097,908 |
Parker-Hannifin
Corp. |
7,730 |
3,561,211 |
|
|
11,348,397 |
Media
— 2.6% | ||
Charter
Communications, Inc., Class A * |
12,182 |
4,734,900 |
Comcast
Corp., Class A |
253,718 |
11,125,534 |
Interpublic
Group of Cos., Inc. (The) |
69,560 |
2,270,438 |
Liberty
Media Corp-Liberty SiriusXM, Class A * |
69,977 |
2,011,139 |
|
|
20,142,011 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
31
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Metals
& Mining — 0.7% | ||
Alcoa
Corp. |
57,594 |
1,958,196 |
Freeport-McMoRan,
Inc. |
26,135 |
1,112,567 |
Kinross
Gold Corp. (Canada) |
155,458 |
940,521 |
Steel
Dynamics, Inc. |
9,721 |
1,148,050 |
|
|
5,159,334 |
Multi-Utilities
— 1.8% | ||
CMS
Energy Corp. |
94,356 |
5,479,253 |
DTE
Energy Co. |
17,011 |
1,875,633 |
Public
Service Enterprise Group, Inc. |
116,127 |
7,101,166 |
|
|
14,456,052 |
Office
REITs — 0.2% | ||
Vornado
Realty Trust |
64,633 |
1,825,882 |
Oil,
Gas & Consumable Fuels — 6.6% | ||
Chevron
Corp. |
115,817 |
17,275,264 |
ConocoPhillips |
87,694 |
10,178,642 |
EOG
Resources, Inc. |
48,303 |
5,842,248 |
Exxon
Mobil Corp. |
146,519 |
14,648,970 |
Pioneer
Natural Resources Co. |
15,641 |
3,517,348 |
|
|
51,462,472 |
Passenger
Airlines — 0.3% | ||
Southwest
Airlines Co. |
83,062 |
2,398,831 |
Pharmaceuticals
— 3.1% | ||
Bristol-Myers
Squibb Co. |
254,478 |
13,057,266 |
Eli
Lilly & Co. |
3,197 |
1,863,595 |
Johnson
& Johnson |
37,811 |
5,926,496 |
Merck
& Co., Inc. |
12,830 |
1,398,727 |
Pfizer,
Inc. |
63,116 |
1,817,110 |
|
|
24,063,194 |
Residential
REITs — 0.5% | ||
AvalonBay
Communities, Inc. |
6,786 |
1,270,475 |
Equity
Residential |
45,565 |
2,786,755 |
|
|
4,057,230 |
Retail
REITs — 0.4% | ||
Kimco
Realty Corp. |
163,936 |
3,493,476 |
Semiconductors
& Semiconductor Equipment — 5.5% | ||
Advanced
Micro Devices, Inc. * |
21,947 |
3,235,207 |
Analog
Devices, Inc. |
31,563 |
6,267,149 |
Intel
Corp. |
33,820 |
1,699,455 |
Microchip
Technology, Inc. |
35,331 |
3,186,150 |
NXP
Semiconductors NV (China) |
48,030 |
11,031,530 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Semiconductors
& Semiconductor Equipment — continued | ||
Taiwan
Semiconductor Manufacturing Co. Ltd.,
ADR
(Taiwan) |
37,155 |
3,864,120 |
Teradyne,
Inc. |
22,049 |
2,392,758 |
Texas
Instruments, Inc. |
68,745 |
11,718,273 |
|
|
43,394,642 |
Software
— 1.5% | ||
Microsoft
Corp. |
15,641 |
5,881,642 |
Oracle
Corp. |
36,122 |
3,808,342 |
Salesforce,
Inc. * |
7,803 |
2,053,281 |
|
|
11,743,265 |
Specialized
REITs — 1.0% | ||
Digital
Realty Trust, Inc. |
56,589 |
7,615,748 |
Specialty
Retail — 3.3% | ||
AutoZone,
Inc. * |
1,522 |
3,935,299 |
Best
Buy Co., Inc. |
36,599 |
2,864,970 |
Burlington
Stores, Inc. * |
9,025 |
1,755,182 |
Home
Depot, Inc. (The) |
12,846 |
4,451,781 |
Lowe's
Cos., Inc. |
20,700 |
4,606,785 |
O'Reilly
Automotive, Inc. * |
2,398 |
2,278,292 |
TJX
Cos., Inc. (The) |
63,719 |
5,977,479 |
|
|
25,869,788 |
Technology
Hardware, Storage & Peripherals — 0.4% | ||
Seagate
Technology Holdings plc |
36,293 |
3,098,333 |
Textiles,
Apparel & Luxury Goods — 1.3% | ||
Capri
Holdings Ltd. * |
22,861 |
1,148,536 |
Kontoor
Brands, Inc. |
79,173 |
4,941,979 |
NIKE,
Inc., Class B |
27,130 |
2,945,504 |
Tapestry,
Inc. |
28,749 |
1,058,251 |
|
|
10,094,270 |
Tobacco
— 1.0% | ||
Philip
Morris International, Inc. |
81,438 |
7,661,687 |
Trading
Companies & Distributors — 1.6% | ||
AerCap
Holdings NV (Ireland) * |
70,016 |
5,203,589 |
Air
Lease Corp., Class A |
54,521 |
2,286,611 |
WESCO
International, Inc. |
28,866 |
5,019,220 |
|
|
12,509,420 |
Wireless
Telecommunication Services — 0.3% | ||
T-Mobile
US, Inc. |
12,889 |
2,066,493 |
Total
Common Stocks
(Cost
$695,802,994) |
|
759,610,306 |
32
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Short-Term
Investments — 2.8% | ||
Investment
Companies — 2.8% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.30% (a)
(b)
(Cost
$21,877,028) |
21,877,028 |
21,877,028 |
Total
Investments — 99.9%
(Cost
$717,680,022) |
|
781,487,334 |
Other
Assets Less Liabilities — 0.1% |
|
858,659 |
NET
ASSETS — 100.0% |
|
782,345,993 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ADR |
American
Depositary Receipt |
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(b) |
The
rate shown is the current yield as of December 31,
2023. |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
33
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 85.0% | ||
Aerospace
& Defense — 1.3% | ||
General
Dynamics Corp. |
345,461 |
89,705,858 |
RTX
Corp. |
1,872,710 |
157,569,820 |
Textron,
Inc. |
1,940,096 |
156,022,520 |
|
|
403,298,198 |
Air
Freight & Logistics — 1.5% | ||
FedEx
Corp. |
459,428 |
116,221,501 |
United
Parcel Service, Inc., Class B |
2,107,975 |
331,436,909 |
|
|
447,658,410 |
Banks
— 0.6% | ||
US
Bancorp |
4,393,373 |
190,145,183 |
Beverages
— 2.6% | ||
Coca-Cola
Co. (The) |
5,128,785 |
302,239,300 |
Monster
Beverage Corp. * |
1,628,548 |
93,820,650 |
PepsiCo,
Inc. |
2,288,447 |
388,669,839 |
|
|
784,729,789 |
Biotechnology
— 3.8% | ||
AbbVie,
Inc. |
2,777,151 |
430,375,091 |
Biogen,
Inc. * |
126,061 |
32,620,805 |
Regeneron
Pharmaceuticals, Inc. * |
352,208 |
309,340,764 |
Vertex
Pharmaceuticals, Inc. * |
986,244 |
401,292,821 |
|
|
1,173,629,481 |
Broadline
Retail — 1.7% | ||
Amazon.com,
Inc. * |
3,362,617 |
510,916,027 |
Building
Products — 1.6% | ||
Trane
Technologies plc |
1,995,296 |
486,652,694 |
Capital
Markets — 2.5% | ||
CME
Group, Inc. |
1,803,107 |
379,734,334 |
Intercontinental
Exchange, Inc. |
1,391,578 |
178,720,362 |
S&P
Global, Inc. |
476,986 |
210,121,873 |
|
|
768,576,569 |
Chemicals
— 3.0% | ||
Air
Products and Chemicals, Inc. |
1,287,959 |
352,643,174 |
Dow,
Inc. |
1,819,524 |
99,782,696 |
Linde
plc (a) |
895,811 |
367,918,536 |
LyondellBasell
Industries NV, Class A |
935,807 |
88,976,530 |
|
|
909,320,936 |
Commercial
Services & Supplies — 0.0% ^ | ||
Veralto
Corp. |
220,018 |
18,098,681 |
Communications
Equipment — 0.2% | ||
Motorola
Solutions, Inc. |
211,438 |
66,199,123 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Consumer
Finance — 0.5% | ||
American
Express Co. |
770,976 |
144,434,644 |
Consumer
Staples Distribution & Retail — 2.4% | ||
Costco
Wholesale Corp. |
630,939 |
416,470,215 |
Target
Corp. (a) |
485,544 |
69,151,176 |
Walmart,
Inc. |
1,506,155 |
237,445,336 |
|
|
723,066,727 |
Electric
Utilities — 2.0% | ||
NextEra
Energy, Inc. |
3,851,708 |
233,952,744 |
PG&E
Corp. |
5,073,588 |
91,476,792 |
Southern
Co. (The) |
4,338,661 |
304,226,909 |
|
|
629,656,445 |
Electrical
Equipment — 1.2% | ||
Eaton
Corp. plc |
1,517,184 |
365,368,251 |
Electronic
Equipment, Instruments & Components — 0.6% | ||
Keysight
Technologies, Inc. * |
1,161,290 |
184,749,626 |
Financial
Services — 5.0% | ||
Berkshire
Hathaway, Inc., Class B * |
570,349 |
203,420,674 |
FleetCor
Technologies, Inc. * |
826,101 |
233,464,403 |
Jack
Henry & Associates, Inc. |
1,040,553 |
170,036,766 |
Mastercard,
Inc., Class A |
1,095,831 |
467,382,880 |
Visa,
Inc., Class A (a) |
1,714,614 |
446,399,755 |
|
|
1,520,704,478 |
Food
Products — 2.0% | ||
Hershey
Co. (The) |
1,082,135 |
201,753,250 |
Mondelez
International, Inc., Class A |
5,495,459 |
398,036,095 |
|
|
599,789,345 |
Ground
Transportation — 2.5% | ||
CSX
Corp. |
5,563,345 |
192,881,171 |
Norfolk
Southern Corp. |
899,455 |
212,613,173 |
Old
Dominion Freight Line, Inc. |
609,874 |
247,200,229 |
Union
Pacific Corp. |
409,099 |
100,482,896 |
|
|
753,177,469 |
Health
Care Equipment & Supplies — 1.0% | ||
Becton
Dickinson & Co. |
105,209 |
25,653,111 |
Boston
Scientific Corp. * |
2,405,003 |
139,033,223 |
Medtronic
plc |
1,727,389 |
142,302,306 |
|
|
306,988,640 |
Health
Care Providers & Services — 2.5% | ||
Centene
Corp. * |
908,511 |
67,420,601 |
Elevance
Health, Inc. |
310,941 |
146,627,338 |
34
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Health
Care Providers & Services — continued | ||
Humana,
Inc. |
307,298 |
140,684,097 |
UnitedHealth
Group, Inc. |
781,248 |
411,303,635 |
|
|
766,035,671 |
Hotels,
Restaurants & Leisure — 3.2% | ||
Booking
Holdings, Inc. * |
54,569 |
193,568,248 |
Chipotle
Mexican Grill, Inc. * |
174,558 |
399,207,164 |
Yum!
Brands, Inc. |
3,062,629 |
400,163,105 |
|
|
992,938,517 |
Household
Products — 3.2% | ||
Church
& Dwight Co., Inc. |
2,131,009 |
201,508,211 |
Colgate-Palmolive
Co. |
2,366,586 |
188,640,570 |
Kimberly-Clark
Corp. |
1,656,441 |
201,274,146 |
Procter
& Gamble Co. (The) |
2,673,927 |
391,837,263 |
|
|
983,260,190 |
Industrial
Conglomerates — 1.3% | ||
Honeywell
International, Inc. |
1,890,992 |
396,559,932 |
Industrial
REITs — 1.0% | ||
Prologis,
Inc. (a) |
2,306,781 |
307,493,907 |
Insurance
— 3.5% | ||
Chubb
Ltd. |
764,286 |
172,728,636 |
Globe
Life, Inc. |
346,687 |
42,198,742 |
Progressive
Corp. (The) |
2,954,746 |
470,631,943 |
Travelers
Cos., Inc. (The) |
1,960,096 |
373,378,687 |
|
|
1,058,938,008 |
Interactive
Media & Services — 2.5% | ||
Alphabet,
Inc., Class A * |
2,632,850 |
367,782,816 |
Meta
Platforms, Inc., Class A * |
1,164,327 |
412,125,185 |
|
|
779,908,001 |
IT
Services — 2.6% | ||
Accenture
plc, Class A |
1,320,100 |
463,236,291 |
Cognizant
Technology Solutions Corp.,
Class
A |
3,719,030 |
280,898,336 |
VeriSign,
Inc. * |
256,979 |
52,927,395 |
|
|
797,062,022 |
Life
Sciences Tools & Services — 1.1% | ||
Danaher
Corp. |
604,262 |
139,789,971 |
Thermo
Fisher Scientific, Inc. |
392,147 |
208,147,706 |
|
|
347,937,677 |
Machinery
— 2.2% | ||
Deere
& Co. |
520,018 |
207,939,598 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Machinery
— continued | ||
Dover
Corp. |
1,536,476 |
236,325,373 |
Otis
Worldwide Corp. |
2,626,844 |
235,023,733 |
|
|
679,288,704 |
Media
— 1.6% | ||
Charter
Communications, Inc., Class A * |
195,771 |
76,092,273 |
Comcast
Corp., Class A |
9,287,172 |
407,242,492 |
|
|
483,334,765 |
Multi-Utilities
— 2.0% | ||
Ameren
Corp. |
1,135,727 |
82,158,491 |
CMS
Energy Corp. |
2,077,098 |
120,617,081 |
Dominion
Energy, Inc. |
663,094 |
31,165,418 |
Public
Service Enterprise Group, Inc. |
6,242,188 |
381,709,796 |
|
|
615,650,786 |
Oil,
Gas & Consumable Fuels — 2.5% | ||
ConocoPhillips |
2,256,525 |
261,914,857 |
EOG
Resources, Inc. |
1,613,432 |
195,144,600 |
Exxon
Mobil Corp. |
2,993,400 |
299,280,132 |
|
|
756,339,589 |
Personal
Care Products — 0.2% | ||
Kenvue,
Inc. |
2,320,153 |
49,952,894 |
Pharmaceuticals
— 3.2% | ||
Bristol-Myers
Squibb Co. |
6,271,230 |
321,776,811 |
Eli
Lilly & Co. |
603,034 |
351,520,579 |
Johnson
& Johnson |
835,828 |
131,007,681 |
Merck
& Co., Inc. |
1,501,893 |
163,736,375 |
|
|
968,041,446 |
Residential
REITs — 0.2% | ||
Equity
Residential |
307,905 |
18,831,470 |
UDR,
Inc. (a) |
1,061,697 |
40,652,378 |
|
|
59,483,848 |
Semiconductors
& Semiconductor Equipment — 4.3% | ||
Analog
Devices, Inc. |
1,678,891 |
333,360,597 |
ASML
Holding NV (Registered), NYRS
(Netherlands) |
260,621 |
197,269,247 |
NXP
Semiconductors NV (China) |
1,794,062 |
412,060,160 |
Texas
Instruments, Inc. |
2,115,262 |
360,567,561 |
|
|
1,303,257,565 |
Software
— 6.6% | ||
Adobe,
Inc. * |
767,489 |
457,883,938 |
Autodesk,
Inc. * |
114,564 |
27,894,043 |
Cadence
Design Systems, Inc. * |
548,528 |
149,402,571 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
35
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Software
— continued | ||
Intuit,
Inc. |
794,010 |
496,280,070 |
Microsoft
Corp. |
1,338,884 |
503,473,939 |
ServiceNow,
Inc. * |
365,835 |
258,458,769 |
Synopsys,
Inc. * |
261,836 |
134,821,975 |
|
|
2,028,215,305 |
Specialized
REITs — 1.9% | ||
American
Tower Corp. |
194,597 |
42,009,601 |
Equinix,
Inc. |
324,867 |
261,644,633 |
SBA
Communications Corp. |
1,110,364 |
281,688,243 |
|
|
585,342,477 |
Specialty
Retail — 2.6% | ||
AutoZone,
Inc. * |
65,533 |
169,442,780 |
Best
Buy Co., Inc. |
647,281 |
50,669,157 |
Burlington
Stores, Inc. * |
96,993 |
18,863,199 |
Lowe's
Cos., Inc. |
1,607,448 |
357,737,552 |
O'Reilly
Automotive, Inc. * |
26,819 |
25,480,196 |
TJX
Cos., Inc. (The) |
1,768,456 |
165,898,857 |
|
|
788,091,741 |
Technology
Hardware, Storage & Peripherals — 0.3% | ||
Apple,
Inc. |
288,514 |
55,547,601 |
Seagate
Technology Holdings plc |
478,882 |
40,882,156 |
|
|
96,429,757 |
Tobacco
— 0.4% | ||
Altria
Group, Inc. |
961,271 |
38,777,672 |
Philip
Morris International, Inc. |
785,498 |
73,899,652 |
|
|
112,677,324 |
Trading
Companies & Distributors — 0.1% | ||
WW
Grainger, Inc. |
31,535 |
26,132,739 |
Total
Common Stocks
(Cost
$22,728,803,953) |
|
25,969,533,581 |
|
PRINCIPAL
AMOUNT($) |
|
Equity-Linked
Notes — 13.7% | ||
BNP
Paribas, ELN, 40.46%, 1/9/2024,
(linked
to S&P 500 Index) (b) |
62,393 |
256,967,442 |
BNP
Paribas, ELN, 41.73%, 1/26/2024,
(linked
to S&P 500 Index) (b) |
61,656 |
295,891,460 |
BNP
Paribas, ELN, 42.35%, 1/17/2024,
(linked
to S&P 500 Index) (b) |
62,151 |
262,149,189 |
BNP
Paribas, ELN, 43.63%, 2/2/2024,
(linked
to S&P 500 Index) (b) |
62,412 |
300,408,304 |
INVESTMENTS |
PRINCIPAL
AMOUNT($) |
VALUE($) |
| ||
BofA
Finance LLC, ELN, 43.80%,
1/12/2024,
(linked to S&P 500
Index) (b) |
62,366 |
257,005,920 |
Canadian
Imperial Bank of Commerce,
ELN,
42.13%, 2/5/2024, (linked to
S&P
500 Index) (Canada) (b) |
62,322 |
299,471,544 |
Goldman
Sachs & Co. LLC, ELN, 43.53%,
1/16/2024,
(linked to S&P 500
Index) (b) |
62,402 |
256,804,199 |
Goldman
Sachs & Co. LLC, ELN, 46.45%,
1/30/2024,
(linked to S&P 500
Index) (b) |
60,041 |
287,753,097 |
Royal
Bank of Canada, ELN, 47.51%,1/
29/2024,
(linked to S&P 500 Index)
(Canada) (b) |
63,426 |
295,553,743 |
Societe
Generale, ELN, 38.15%,
1/5/2024,
(linked to S&P 500 Index)
(France) (b) |
63,667 |
255,342,233 |
Societe
Generale, ELN, 38.94%,
1/19/2024,
(linked to S&P 500
Index) (b) |
61,373 |
270,776,449 |
Societe
Generale, ELN, 40.12%,
1/8/2024,
(linked to S&P 500 Index)
(France) (b) |
63,728 |
254,578,703 |
The
Bank of Nova Scotia, ELN, 42.11%,
2/6/2024,
(linked to S&P 500 Index)
(Canada) (b) |
62,299 |
298,979,131 |
UBS
Securities LLC, ELN, 37.72%,
1/22/2024,
(linked to S&P 500 Index)
(Switzerland) (b) |
60,547 |
282,593,435 |
UBS
Securities LLC, ELN, 38.46%,
1/23/2024,
(linked to S&P 500 Index)
(Switzerland) (b) |
62,294 |
292,494,002 |
Total
Equity-Linked Notes
(Cost
$4,354,984,017) |
|
4,166,768,851 |
|
SHARES |
|
Short-Term
Investments — 0.6% | ||
Investment
Companies — 0.0% ^ | ||
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (c)
(d)
(Cost
$8,580,135) |
8,580,135 |
8,580,135 |
Investment
of Cash Collateral from Securities Loaned — 0.6% | ||
JPMorgan
Securities Lending Money
Market
Fund Agency SL Class Shares,
5.56% (c)
(d) |
154,033,369 |
154,094,982 |
36
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Short-Term
Investments — continued | ||
Investment
of Cash Collateral from Securities Loaned —
continued | ||
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (c)
(d) |
18,464,645 |
18,464,645 |
Total
Investment of Cash Collateral from
Securities
Loaned
(Cost
$172,556,019) |
|
172,559,627 |
Total
Short-Term Investments
(Cost
$181,136,154) |
|
181,139,762 |
Total
Investments — 99.3%
(Cost
$27,264,924,124) |
|
30,317,442,194 |
Other
Assets Less Liabilities — 0.7% |
|
225,642,990 |
NET
ASSETS — 100.0% |
|
30,543,085,184 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ELN |
Equity-Linked
Note |
NYRS |
New
York Registry Shares |
REIT |
Real
Estate Investment Trust |
^ |
Amount
rounds to less than 0.1% of net assets. | |
* |
Non-income
producing security.
|
|
(a) |
The
security or a portion of this security is on loan at
December
31, 2023. The total value of securities on
loan
at December 31, 2023 is $169,175,386. |
|
(b) |
Securities
exempt from registration under Rule 144A
or
section 4(a)(2), of the Securities Act of 1933, as
amended. |
|
(c) |
Investment
in an affiliated fund, which is registered
under
the Investment Company Act of 1940, as
amended,
and is advised by J.P. Morgan Investment
Management
Inc. |
|
(d) |
The
rate shown is the current yield as of December
31,
2023. |
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
37
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 98.1% | ||
Aerospace
& Defense — 0.2% | ||
AeroVironment,
Inc. * |
5,905 |
744,266 |
Curtiss-Wright
Corp. |
1,631 |
363,371 |
Woodward,
Inc. |
4,596 |
625,653 |
|
|
1,733,290 |
Air
Freight & Logistics — 0.4% | ||
Forward
Air Corp. |
8,491 |
533,829 |
GXO
Logistics, Inc. * |
24,068 |
1,471,999 |
Hub
Group, Inc., Class A * |
22,680 |
2,085,199 |
|
|
4,091,027 |
Automobile
Components — 1.5% | ||
Adient
plc * |
24,609 |
894,783 |
American
Axle & Manufacturing Holdings,
Inc. * |
37,783 |
332,868 |
Autoliv,
Inc. (Sweden) |
38,109 |
4,199,231 |
Dana,
Inc. |
88,246 |
1,289,274 |
Fox
Factory Holding Corp. * |
5,764 |
388,955 |
Gentex
Corp. * |
70,043 |
2,287,604 |
Gentherm,
Inc. * |
8,756 |
458,464 |
Goodyear
Tire & Rubber Co. (The) *
(a) |
74,078 |
1,060,797 |
LCI
Industries |
6,503 |
817,492 |
Lear
Corp. |
15,272 |
2,156,559 |
Patrick
Industries, Inc. |
7,265 |
729,043 |
|
|
14,615,070 |
Automobiles
— 0.4% | ||
Harley-Davidson,
Inc. |
32,670 |
1,203,563 |
Thor
Industries, Inc. |
15,299 |
1,809,107 |
Winnebago
Industries, Inc. (a) |
10,479 |
763,709 |
|
|
3,776,379 |
Banks
— 6.6% | ||
Ameris
Bancorp |
52,998 |
2,811,544 |
Associated
Banc-Corp. |
36,445 |
779,558 |
Banc
of California, Inc. |
39,369 |
528,726 |
Bancorp,
Inc. (The) * |
26,296 |
1,013,974 |
BankUnited,
Inc. |
18,793 |
609,457 |
Banner
Corp. |
28,418 |
1,522,068 |
Brookline
Bancorp, Inc. |
19,236 |
209,865 |
Cadence
Bank (a) |
19,198 |
568,069 |
Central
Pacific Financial Corp. |
29,564 |
581,819 |
Columbia
Banking System, Inc. |
52,144 |
1,391,202 |
Commerce
Bancshares, Inc. (a) |
31,760 |
1,696,302 |
Cullen/Frost
Bankers, Inc. |
29,981 |
3,252,639 |
Customers
Bancorp, Inc. * |
28,514 |
1,642,977 |
CVB
Financial Corp. |
73,061 |
1,475,102 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Banks
— continued | ||
Dime
Community Bancshares, Inc. |
12,776 |
344,058 |
East
West Bancorp, Inc. |
62,730 |
4,513,423 |
FB
Financial Corp. |
8,524 |
339,681 |
First
BanCorp (Puerto Rico) |
156,046 |
2,566,957 |
First
Commonwealth Financial Corp. |
90,490 |
1,397,166 |
First
Horizon Corp. |
141,245 |
2,000,029 |
FNB
Corp. |
154,803 |
2,131,637 |
Hancock
Whitney Corp. |
21,980 |
1,068,008 |
Hanmi
Financial Corp. |
8,992 |
174,445 |
Hope
Bancorp, Inc. |
111,530 |
1,347,282 |
National
Bank Holdings Corp., Class A |
48,425 |
1,800,926 |
NBT
Bancorp, Inc. |
9,085 |
380,752 |
New
York Community Bancorp, Inc. |
137,632 |
1,407,975 |
OFG
Bancorp (Puerto Rico) |
72,994 |
2,735,815 |
Old
National Bancorp |
105,742 |
1,785,982 |
Pathward
Financial, Inc. |
32,270 |
1,708,051 |
Pinnacle
Financial Partners, Inc. |
46,537 |
4,058,957 |
Preferred
Bank |
3,655 |
266,998 |
Prosperity
Bancshares, Inc. |
47,060 |
3,187,374 |
Renasant
Corp. |
14,557 |
490,280 |
Southside
Bancshares, Inc. |
32,081 |
1,004,777 |
SouthState
Corp. |
3,714 |
313,647 |
Synovus
Financial Corp. |
49,583 |
1,866,800 |
Triumph
Financial, Inc. * |
6,019 |
482,603 |
UMB
Financial Corp. |
5,216 |
435,797 |
United
Community Banks, Inc. |
15,337 |
448,761 |
Veritex
Holdings, Inc. |
12,025 |
279,822 |
WaFd,
Inc. |
31,109 |
1,025,353 |
Webster
Financial Corp. |
31,433 |
1,595,539 |
Wintrust
Financial Corp. |
38,106 |
3,534,331 |
WSFS
Financial Corp. |
15,732 |
722,571 |
|
|
63,499,099 |
Beverages
— 0.4% | ||
Boston
Beer Co., Inc. (The), Class A * |
2,434 |
841,166 |
Celsius
Holdings, Inc. *
(a) |
37,401 |
2,039,103 |
Coca-Cola
Consolidated, Inc. |
1,423 |
1,321,113 |
|
|
4,201,382 |
Biotechnology
— 1.7% | ||
Arrowhead
Pharmaceuticals, Inc. *
(a) |
42,237 |
1,292,452 |
Exelixis,
Inc. * |
232,958 |
5,588,662 |
Neurocrine
Biosciences, Inc. * |
27,816 |
3,665,036 |
United
Therapeutics Corp. * |
26,696 |
5,870,184 |
|
|
16,416,334 |
38
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Broadline
Retail — 0.4% | ||
Kohl's
Corp. (a) |
65,232 |
1,870,854 |
Macy's,
Inc. (a) |
66,028 |
1,328,483 |
Nordstrom,
Inc. (a) |
11,511 |
212,378 |
Ollie's
Bargain Outlet Holdings, Inc. * |
9,401 |
713,442 |
|
|
4,125,157 |
Building
Products — 3.8% | ||
AAON,
Inc. |
12,293 |
908,084 |
Advanced
Drainage Systems, Inc. |
17,680 |
2,486,515 |
Apogee
Enterprises, Inc. |
5,616 |
299,951 |
AZZ,
Inc. |
6,601 |
383,452 |
Builders
FirstSource, Inc. * |
46,679 |
7,792,592 |
Carlisle
Cos., Inc. |
13,885 |
4,338,091 |
Gibraltar
Industries, Inc. * |
24,584 |
1,941,644 |
Griffon
Corp. |
13,489 |
822,155 |
Lennox
International, Inc. |
7,495 |
3,354,162 |
Masterbrand,
Inc. * |
33,218 |
493,287 |
Owens
Corning |
27,513 |
4,078,252 |
PGT
Innovations, Inc. * |
31,882 |
1,297,597 |
Resideo
Technologies, Inc. * |
41,946 |
789,424 |
Simpson
Manufacturing Co., Inc. |
11,654 |
2,307,259 |
Trex
Co., Inc. * |
4,350 |
360,136 |
UFP
Industries, Inc. |
36,774 |
4,616,976 |
|
|
36,269,577 |
Capital
Markets — 1.7% | ||
Affiliated
Managers Group, Inc. |
17,981 |
2,722,683 |
Brightsphere
Investment Group, Inc. |
28,952 |
554,720 |
Donnelley
Financial Solutions, Inc. * |
12,989 |
810,124 |
Evercore,
Inc., Class A |
6,001 |
1,026,471 |
Federated
Hermes, Inc. |
12,527 |
424,164 |
Interactive
Brokers Group, Inc., Class A |
22,158 |
1,836,898 |
Janus
Henderson Group plc |
34,273 |
1,033,331 |
Jefferies
Financial Group, Inc. |
11,453 |
462,816 |
Morningstar,
Inc. (a) |
6,637 |
1,899,775 |
Piper
Sandler Cos. |
3,469 |
606,624 |
SEI
Investments Co. |
25,847 |
1,642,577 |
Stifel
Financial Corp. |
26,778 |
1,851,699 |
StoneX
Group, Inc. * |
6,408 |
473,103 |
Virtus
Investment Partners, Inc. |
1,977 |
477,959 |
|
|
15,822,944 |
Chemicals
— 1.9% | ||
AdvanSix,
Inc. |
29,948 |
897,242 |
Ashland,
Inc. |
11,276 |
950,680 |
Avient
Corp. |
42,121 |
1,750,970 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Chemicals
— continued | ||
Axalta
Coating Systems Ltd. * |
23,115 |
785,217 |
Cabot
Corp. |
27,957 |
2,334,409 |
Chemours
Co. (The) |
57,158 |
1,802,763 |
Hawkins,
Inc. |
5,102 |
359,283 |
HB
Fuller Co. |
27,551 |
2,242,927 |
Ingevity
Corp. * |
8,637 |
407,839 |
Livent
Corp. *
(a) |
19,727 |
354,691 |
Minerals
Technologies, Inc. |
7,861 |
560,568 |
RPM
International, Inc. |
25,266 |
2,820,444 |
Scotts
Miracle-Gro Co. (The) |
11,226 |
715,657 |
Sensient
Technologies Corp. |
15,793 |
1,042,338 |
Stepan
Co. |
9,342 |
883,286 |
|
|
17,908,314 |
Commercial
Services & Supplies — 1.5% | ||
ABM
Industries, Inc. |
17,135 |
768,162 |
Brady
Corp., Class A |
48,364 |
2,838,483 |
Brink's
Co. (The) |
14,053 |
1,235,961 |
Clean
Harbors, Inc. * |
23,742 |
4,143,217 |
CoreCivic,
Inc. * |
29,578 |
429,768 |
Deluxe
Corp. (a) |
7,737 |
165,959 |
Enviri
Corp. * |
17,694 |
159,246 |
Interface,
Inc., Class A |
17,249 |
217,682 |
MillerKnoll,
Inc. |
22,581 |
602,461 |
OPENLANE,
Inc. * |
34,231 |
506,961 |
Stericycle,
Inc. * |
6,503 |
322,289 |
Tetra
Tech, Inc. |
14,489 |
2,418,649 |
Viad
Corp. * |
5,357 |
193,923 |
|
|
14,002,761 |
Communications
Equipment — 0.9% | ||
ADTRAN
Holdings, Inc. |
14,911 |
109,447 |
Calix,
Inc. * |
14,925 |
652,073 |
Ciena
Corp. * |
90,029 |
4,052,205 |
Digi
International, Inc. * |
9,056 |
235,456 |
Extreme
Networks, Inc. * |
31,964 |
563,845 |
Lumentum
Holdings, Inc. * |
14,911 |
781,635 |
Viasat,
Inc. *
(a) |
45,493 |
1,271,529 |
Viavi
Solutions, Inc. * |
59,954 |
603,737 |
|
|
8,269,927 |
Construction
& Engineering — 1.7% | ||
AECOM |
35,215 |
3,254,922 |
Arcosa,
Inc. |
14,412 |
1,191,008 |
Comfort
Systems USA, Inc. |
9,189 |
1,889,902 |
EMCOR
Group, Inc. |
22,058 |
4,751,955 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
39
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Construction
& Engineering — continued | ||
MasTec,
Inc. * |
15,415 |
1,167,224 |
MDU
Resources Group, Inc. |
56,643 |
1,121,531 |
MYR
Group, Inc. * |
17,546 |
2,537,678 |
|
|
15,914,220 |
Construction
Materials — 0.2% | ||
Eagle
Materials, Inc. |
7,327 |
1,486,209 |
Consumer
Finance — 0.7% | ||
Encore
Capital Group, Inc. *
(a) |
8,756 |
444,367 |
Enova
International, Inc. * |
18,244 |
1,009,988 |
EZCORP,
Inc., Class A *
(a) |
23,859 |
208,528 |
FirstCash
Holdings, Inc. |
22,937 |
2,486,141 |
PROG
Holdings, Inc. * |
18,339 |
566,859 |
SLM
Corp. |
98,053 |
1,874,773 |
|
|
6,590,656 |
Consumer
Staples Distribution & Retail — 2.1% | ||
Andersons,
Inc. (The) |
32,966 |
1,896,864 |
BJ's
Wholesale Club Holdings, Inc. * |
35,491 |
2,365,830 |
Casey's
General Stores, Inc. |
14,730 |
4,046,920 |
Performance
Food Group Co. * |
68,438 |
4,732,488 |
SpartanNash
Co. |
52,858 |
1,213,091 |
Sprouts
Farmers Market, Inc. * |
43,765 |
2,105,534 |
United
Natural Foods, Inc. * |
68,478 |
1,111,398 |
US
Foods Holding Corp. * |
59,003 |
2,679,326 |
|
|
20,151,451 |
Containers
& Packaging — 1.2% | ||
AptarGroup,
Inc. |
14,122 |
1,745,761 |
Berry
Global Group, Inc. |
45,279 |
3,051,352 |
Crown
Holdings, Inc. |
12,215 |
1,124,879 |
Greif,
Inc., Class A |
13,030 |
854,638 |
Myers
Industries, Inc. |
10,395 |
203,222 |
O-I
Glass, Inc. * |
19,510 |
319,574 |
Silgan
Holdings, Inc. |
20,995 |
950,024 |
Sonoco
Products Co. |
53,909 |
3,011,896 |
|
|
11,261,346 |
Diversified
Consumer Services — 1.1% | ||
Adtalem
Global Education, Inc. * |
13,848 |
816,340 |
Frontdoor,
Inc. * |
21,790 |
767,444 |
Graham
Holdings Co., Class B |
1,701 |
1,184,781 |
Grand
Canyon Education, Inc. * |
7,971 |
1,052,491 |
H&R
Block, Inc. |
45,357 |
2,193,918 |
Service
Corp. International |
44,605 |
3,053,212 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Diversified
Consumer Services — continued | ||
Strategic
Education, Inc. |
5,768 |
532,790 |
Stride,
Inc. *
(a) |
10,758 |
638,702 |
|
|
10,239,678 |
Diversified
REITs — 0.6% | ||
American
Assets Trust, Inc. |
35,103 |
790,169 |
Armada
Hoffler Properties, Inc. |
48,664 |
601,974 |
Essential
Properties Realty Trust, Inc. |
109,015 |
2,786,423 |
WP
Carey, Inc. |
20,088 |
1,301,903 |
|
|
5,480,469 |
Diversified
Telecommunication Services — 0.2% | ||
Cogent
Communications Holdings, Inc. |
11,012 |
837,573 |
Iridium
Communications, Inc. |
36,208 |
1,490,321 |
|
|
2,327,894 |
Electric
Utilities — 0.7% | ||
IDACORP,
Inc. |
33,496 |
3,293,327 |
OGE
Energy Corp. |
98,932 |
3,455,695 |
|
|
6,749,022 |
Electrical
Equipment — 1.4% | ||
Acuity
Brands, Inc. |
9,039 |
1,851,458 |
Encore
Wire Corp. (a) |
15,428 |
3,295,421 |
EnerSys |
2,905 |
293,289 |
nVent
Electric plc |
82,052 |
4,848,452 |
Regal
Rexnord Corp. |
18,534 |
2,743,403 |
|
|
13,032,023 |
Electronic
Equipment, Instruments & Components — 3.6% | ||
Advanced
Energy Industries, Inc. (a) |
11,321 |
1,233,083 |
Arrow
Electronics, Inc. * |
25,618 |
3,131,801 |
Belden,
Inc. |
11,814 |
912,632 |
Benchmark
Electronics, Inc. |
10,170 |
281,099 |
Cognex
Corp. |
37,322 |
1,557,820 |
Coherent
Corp. * |
72,200 |
3,142,866 |
Crane
NXT Co. |
11,815 |
671,919 |
Fabrinet
(Thailand) * |
27,410 |
5,216,945 |
Jabil,
Inc. |
72,420 |
9,226,308 |
Littelfuse,
Inc. |
5,665 |
1,515,727 |
OSI
Systems, Inc. * |
4,812 |
620,989 |
Rogers
Corp. * |
4,056 |
535,676 |
TD
SYNNEX Corp. |
23,592 |
2,538,735 |
Vontier
Corp. |
107,104 |
3,700,443 |
|
|
34,286,043 |
40
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Energy
Equipment & Services — 1.0% | ||
Bristow
Group, Inc. * |
7,774 |
219,771 |
ChampionX
Corp. |
92,777 |
2,710,016 |
Helmerich
& Payne, Inc. (a) |
18,563 |
672,352 |
Liberty
Energy, Inc., Class A |
64,649 |
1,172,733 |
NOV,
Inc. |
106,965 |
2,169,250 |
Oceaneering
International, Inc. * |
59,264 |
1,261,138 |
Patterson-UTI
Energy, Inc. |
91,786 |
991,289 |
ProPetro
Holding Corp. * |
20,264 |
169,812 |
Valaris
Ltd. * |
5,866 |
402,231 |
Weatherford
International plc * |
2,714 |
265,511 |
|
|
10,034,103 |
Entertainment
— 0.1% | ||
TKO
Group Holdings, Inc., Class A (a) |
9,677 |
789,450 |
Financial
Services — 2.1% | ||
Essent
Group Ltd. |
52,388 |
2,762,943 |
Euronet
Worldwide, Inc. * |
4,150 |
421,183 |
EVERTEC,
Inc. (Puerto Rico) |
50,461 |
2,065,873 |
MGIC
Investment Corp. |
140,898 |
2,717,922 |
Mr.
Cooper Group, Inc. * |
32,921 |
2,143,815 |
NCR
Atleos Corp. * |
27,864 |
676,817 |
NMI
Holdings, Inc., Class A * |
56,339 |
1,672,142 |
Radian
Group, Inc. |
40,214 |
1,148,110 |
Voya
Financial, Inc. |
26,683 |
1,946,792 |
Walker
& Dunlop, Inc. |
7,883 |
875,092 |
WEX,
Inc. * |
18,005 |
3,502,873 |
|
|
19,933,562 |
Food
Products — 1.1% | ||
Darling
Ingredients, Inc. * |
44,956 |
2,240,607 |
Flowers
Foods, Inc. |
51,185 |
1,152,174 |
Fresh
Del Monte Produce, Inc. |
8,327 |
218,584 |
Hain
Celestial Group, Inc. (The) * |
20,970 |
229,622 |
Ingredion,
Inc. |
32,028 |
3,475,999 |
John
B Sanfilippo & Son, Inc. |
2,737 |
282,021 |
Pilgrim's
Pride Corp. * |
10,211 |
282,436 |
Post
Holdings, Inc. * |
14,471 |
1,274,316 |
Simply
Good Foods Co. (The) * |
22,554 |
893,138 |
|
|
10,048,897 |
Gas
Utilities — 0.7% | ||
Chesapeake
Utilities Corp. |
18,399 |
1,943,486 |
ONE
Gas, Inc. (a) |
26,465 |
1,686,350 |
Southwest
Gas Holdings, Inc. |
4,226 |
267,717 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Gas
Utilities — continued | ||
Spire,
Inc. |
7,265 |
452,900 |
UGI
Corp. (a) |
77,959 |
1,917,792 |
|
|
6,268,245 |
Ground
Transportation — 1.9% | ||
ArcBest
Corp. |
13,969 |
1,679,213 |
Avis
Budget Group, Inc. |
5,341 |
946,746 |
Hertz
Global Holdings, Inc. *
(a) |
38,112 |
395,984 |
Knight-Swift
Transportation Holdings, Inc. |
72,038 |
4,152,991 |
Landstar
System, Inc. |
19,783 |
3,830,978 |
Ryder
System, Inc. |
13,273 |
1,527,191 |
Saia,
Inc. * |
6,888 |
3,018,459 |
XPO,
Inc. * |
29,480 |
2,582,153 |
|
|
18,133,715 |
Health
Care Equipment & Supplies — 2.1% | ||
Avanos
Medical, Inc. * |
12,157 |
272,682 |
CONMED
Corp. (a) |
6,682 |
731,746 |
Envista
Holdings Corp. * |
96,245 |
2,315,655 |
Glaukos
Corp. * |
21,206 |
1,685,665 |
Globus
Medical, Inc., Class A *
(a) |
55,917 |
2,979,817 |
Haemonetics
Corp. * |
30,640 |
2,620,026 |
Integer
Holdings Corp. * |
8,686 |
860,609 |
Integra
LifeSciences Holdings Corp. * |
19,119 |
832,632 |
Lantheus
Holdings, Inc. * |
48,759 |
3,023,058 |
Masimo
Corp. *
(a) |
25,663 |
3,007,960 |
Merit
Medical Systems, Inc. * |
13,562 |
1,030,170 |
Omnicell,
Inc. * |
11,226 |
422,434 |
Orthofix
Medical, Inc. * |
13,088 |
176,426 |
Varex
Imaging Corp. * |
10,832 |
222,056 |
|
|
20,180,936 |
Health
Care Providers & Services — 2.6% | ||
Acadia
Healthcare Co., Inc. * |
23,762 |
1,847,733 |
Addus
HomeCare Corp. * |
4,063 |
377,250 |
Amedisys,
Inc. * |
22,363 |
2,125,827 |
AMN
Healthcare Services, Inc. * |
5,647 |
422,847 |
Chemed
Corp. |
4,437 |
2,594,536 |
Encompass
Health Corp. |
58,216 |
3,884,171 |
Enhabit,
Inc. *
(a) |
12,783 |
132,304 |
Ensign
Group, Inc. (The) |
13,663 |
1,533,125 |
Fulgent
Genetics, Inc. *
(a) |
40,936 |
1,183,460 |
HealthEquity,
Inc. * |
40,274 |
2,670,166 |
Option
Care Health, Inc. * |
69,859 |
2,353,550 |
Progyny,
Inc. * |
58,893 |
2,189,642 |
R1
RCM, Inc. * |
31,313 |
330,978 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
41
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Health
Care Providers & Services — continued | ||
RadNet,
Inc. * |
11,583 |
402,741 |
Tenet
Healthcare Corp. * |
42,294 |
3,196,158 |
|
|
25,244,488 |
Health
Care REITs — 0.5% | ||
CareTrust
REIT, Inc. |
24,709 |
552,987 |
Community
Healthcare Trust, Inc. |
56,804 |
1,513,259 |
Omega
Healthcare Investors, Inc. (a) |
26,279 |
805,714 |
Physicians
Realty Trust |
58,284 |
775,760 |
Sabra
Health Care REIT, Inc. |
90,092 |
1,285,613 |
|
|
4,933,333 |
Health
Care Technology — 0.1% | ||
HealthStream,
Inc. |
7,990 |
215,970 |
Veradigm,
Inc. *
(a) |
52,507 |
550,798 |
|
|
766,768 |
Hotel
& Resort REITs — 0.4% | ||
Apple
Hospitality REIT, Inc. (a) |
57,131 |
948,946 |
Chatham
Lodging Trust |
8,551 |
91,667 |
Park
Hotels & Resorts, Inc. |
142,834 |
2,185,360 |
Sunstone
Hotel Investors, Inc. |
51,412 |
551,651 |
Xenia
Hotels & Resorts, Inc. |
30,618 |
417,017 |
|
|
4,194,641 |
Hotels,
Restaurants & Leisure — 2.8% | ||
Aramark |
28,660 |
805,346 |
BJ's
Restaurants, Inc. * |
6,328 |
227,871 |
Bloomin'
Brands, Inc. |
20,477 |
576,428 |
Boyd
Gaming Corp. |
22,617 |
1,416,050 |
Brinker
International, Inc. * |
11,978 |
517,210 |
Cheesecake
Factory, Inc. (The) (a) |
14,819 |
518,813 |
Choice
Hotels International, Inc. (a) |
6,791 |
769,420 |
Churchill
Downs, Inc. |
13,568 |
1,830,730 |
Cracker
Barrel Old Country Store, Inc. (a) |
4,452 |
343,160 |
Dave
& Buster's Entertainment, Inc. * |
13,761 |
741,030 |
Golden
Entertainment, Inc. |
9,241 |
368,993 |
Hilton
Grand Vacations, Inc. * |
19,613 |
788,050 |
Jack
in the Box, Inc. (a) |
6,779 |
553,370 |
Light
& Wonder, Inc. * |
23,367 |
1,918,664 |
Marriott
Vacations Worldwide Corp. |
11,012 |
934,809 |
Penn
Entertainment, Inc. *
(a) |
40,649 |
1,057,687 |
Planet
Fitness, Inc., Class A * |
25,490 |
1,860,770 |
Six
Flags Entertainment Corp. * |
17,620 |
441,910 |
Texas
Roadhouse, Inc., Class A |
16,090 |
1,966,681 |
Travel
+ Leisure Co. |
31,555 |
1,233,485 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Hotels,
Restaurants & Leisure — continued | ||
Vail
Resorts, Inc. |
4,408 |
940,976 |
Wendy's
Co. (The) |
34,893 |
679,716 |
Wingstop,
Inc. |
7,911 |
2,029,804 |
Wyndham
Hotels & Resorts, Inc. |
49,156 |
3,952,634 |
|
|
26,473,607 |
Household
Durables — 2.5% | ||
Cavco
Industries, Inc. * |
2,172 |
752,859 |
Green
Brick Partners, Inc. * |
10,306 |
535,294 |
Helen
of Troy Ltd. * |
6,554 |
791,789 |
KB
Home |
24,511 |
1,530,957 |
La-Z-Boy,
Inc. |
12,425 |
458,731 |
Meritage
Homes Corp. |
16,187 |
2,819,775 |
Newell
Brands, Inc. |
104,001 |
902,729 |
Taylor
Morrison Home Corp., Class A * |
34,913 |
1,862,608 |
Tempur
Sealy International, Inc. |
52,326 |
2,667,056 |
Toll
Brothers, Inc. |
50,010 |
5,140,528 |
TopBuild
Corp. * |
8,003 |
2,995,203 |
Tri
Pointe Homes, Inc. * |
90,393 |
3,199,912 |
|
|
23,657,441 |
Household
Products — 0.1% | ||
Central
Garden & Pet Co., Class A * |
30,308 |
1,334,764 |
Independent
Power and Renewable Electricity Producers — 0.4% | ||
Vistra
Corp. |
89,382 |
3,442,995 |
Industrial
REITs — 1.5% | ||
EastGroup
Properties, Inc. |
24,203 |
4,442,218 |
First
Industrial Realty Trust, Inc. |
70,182 |
3,696,486 |
Innovative
Industrial Properties, Inc. (a) |
10,962 |
1,105,189 |
LXP
Industrial Trust |
80,288 |
796,457 |
Rexford
Industrial Realty, Inc. |
53,209 |
2,985,025 |
STAG
Industrial, Inc. |
35,589 |
1,397,224 |
|
|
14,422,599 |
Insurance
— 3.5% | ||
American
Financial Group, Inc. |
24,380 |
2,898,538 |
Assured
Guaranty Ltd. |
16,338 |
1,222,573 |
CNO
Financial Group, Inc. |
33,620 |
937,998 |
Employers
Holdings, Inc. |
8,146 |
320,952 |
Erie
Indemnity Co., Class A |
3,718 |
1,245,233 |
Fidelity
National Financial, Inc. |
75,490 |
3,851,500 |
First
American Financial Corp. |
27,696 |
1,784,730 |
Hanover
Insurance Group, Inc. (The) |
3,187 |
386,966 |
Horace
Mann Educators Corp. |
10,830 |
354,141 |
Kinsale
Capital Group, Inc. |
3,498 |
1,171,515 |
42
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Insurance
— continued | ||
Mercury
General Corp. |
7,153 |
266,878 |
Old
Republic International Corp. |
77,280 |
2,272,032 |
Palomar
Holdings, Inc. * |
13,508 |
749,694 |
Primerica,
Inc. |
5,184 |
1,066,660 |
Reinsurance
Group of America, Inc. |
30,048 |
4,861,165 |
RenaissanceRe
Holdings Ltd. (Bermuda) |
17,436 |
3,417,456 |
RLI
Corp. |
20,174 |
2,685,563 |
Selective
Insurance Group, Inc. |
4,576 |
455,220 |
Unum
Group |
77,476 |
3,503,465 |
|
|
33,452,279 |
Interactive
Media & Services — 0.3% | ||
Cars.com,
Inc. * |
17,177 |
325,848 |
QuinStreet,
Inc. * |
36,116 |
463,007 |
TripAdvisor,
Inc. * |
25,924 |
558,144 |
Yelp,
Inc., Class A * |
18,185 |
860,878 |
Ziff
Davis, Inc. *
(a) |
13,196 |
886,639 |
|
|
3,094,516 |
IT
Services — 0.7% | ||
GoDaddy,
Inc., Class A * |
55,314 |
5,872,134 |
Perficient,
Inc. * |
9,401 |
618,774 |
|
|
6,490,908 |
Leisure
Products — 0.7% | ||
Brunswick
Corp. |
24,229 |
2,344,156 |
Mattel,
Inc. * |
91,246 |
1,722,724 |
Polaris,
Inc. |
15,562 |
1,474,811 |
YETI
Holdings, Inc. *
(a) |
18,661 |
966,267 |
|
|
6,507,958 |
Life
Sciences Tools & Services — 0.7% | ||
Azenta,
Inc. * |
21,113 |
1,375,301 |
Bruker
Corp. |
26,930 |
1,978,817 |
Medpace
Holdings, Inc. * |
7,176 |
2,199,659 |
Repligen
Corp. *
(a) |
5,003 |
899,539 |
|
|
6,453,316 |
Machinery
— 5.4% | ||
AGCO
Corp. |
31,217 |
3,790,056 |
Alamo
Group, Inc. |
6,786 |
1,426,349 |
Chart
Industries, Inc. *
(a) |
9,401 |
1,281,638 |
Crane
Co. |
12,186 |
1,439,654 |
Donaldson
Co., Inc. |
31,604 |
2,065,321 |
Esab
Corp. |
11,643 |
1,008,517 |
Federal
Signal Corp. |
15,644 |
1,200,521 |
Flowserve
Corp. |
35,633 |
1,468,792 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Machinery
— continued | ||
Franklin
Electric Co., Inc. |
32,519 |
3,142,961 |
Graco,
Inc. |
46,859 |
4,065,487 |
Hillenbrand,
Inc. |
28,574 |
1,367,266 |
ITT,
Inc. |
40,073 |
4,781,510 |
John
Bean Technologies Corp. |
8,096 |
805,147 |
Kennametal,
Inc. |
22,564 |
581,926 |
Lincoln
Electric Holdings, Inc. |
11,504 |
2,501,660 |
Lindsay
Corp. |
2,844 |
367,331 |
Middleby
Corp. (The) * |
15,272 |
2,247,580 |
Mueller
Industries, Inc. |
64,943 |
3,062,063 |
Oshkosh
Corp. |
33,064 |
3,584,468 |
RBC
Bearings, Inc. * |
7,412 |
2,111,605 |
SPX
Technologies, Inc. * |
11,305 |
1,141,918 |
Standex
International Corp. |
17,358 |
2,749,160 |
Terex
Corp. |
19,320 |
1,110,127 |
Timken
Co. (The) |
25,979 |
2,082,217 |
Titan
International, Inc. * |
15,476 |
230,283 |
Toro
Co. (The) |
7,822 |
750,834 |
Wabash
National Corp. |
10,835 |
277,593 |
Watts
Water Technologies, Inc., Class A |
5,992 |
1,248,373 |
|
|
51,890,357 |
Marine
Transportation — 0.3% | ||
Kirby
Corp. * |
16,439 |
1,290,133 |
Matson,
Inc. |
12,157 |
1,332,407 |
|
|
2,622,540 |
Media
— 0.4% | ||
Cable
One, Inc. |
2,663 |
1,482,199 |
John
Wiley & Sons, Inc., Class A |
11,477 |
364,280 |
New
York Times Co. (The), Class A |
44,784 |
2,193,968 |
|
|
4,040,447 |
Metals
& Mining — 2.0% | ||
Alcoa
Corp. |
27,578 |
937,652 |
ATI,
Inc. *
(a) |
33,385 |
1,518,016 |
Cleveland-Cliffs,
Inc. * |
131,905 |
2,693,500 |
Commercial
Metals Co. |
56,037 |
2,804,092 |
Haynes
International, Inc. |
10,287 |
586,873 |
Materion
Corp. |
10,388 |
1,351,790 |
Reliance
Steel & Aluminum Co. |
23,969 |
6,703,650 |
Royal
Gold, Inc. |
4,596 |
555,932 |
SunCoke
Energy, Inc. |
74,086 |
795,684 |
United
States Steel Corp. (a) |
15,598 |
758,843 |
Warrior
Met Coal, Inc. |
13,097 |
798,524 |
|
|
19,504,556 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
43
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Mortgage
Real Estate Investment Trusts (REITs) — 0.6% | ||
Annaly
Capital Management, Inc. |
147,489 |
2,856,862 |
Ellington
Financial, Inc. (a) |
13,049 |
165,853 |
KKR
Real Estate Finance Trust, Inc. |
17,344 |
229,461 |
PennyMac
Mortgage Investment Trust (a) |
26,910 |
402,304 |
Ready
Capital Corp. (a) |
83,707 |
857,997 |
Starwood
Property Trust, Inc. (a) |
55,582 |
1,168,334 |
|
|
5,680,811 |
Multi-Utilities
— 0.3% | ||
Northwestern
Energy Group, Inc. |
21,821 |
1,110,470 |
Unitil
Corp. |
30,903 |
1,624,571 |
|
|
2,735,041 |
Office
REITs — 0.8% | ||
Brandywine
Realty Trust |
129,352 |
698,501 |
COPT
Defense Properties |
64,876 |
1,662,772 |
Cousins
Properties, Inc. |
41,880 |
1,019,778 |
Easterly
Government Properties, Inc., Class A |
27,388 |
368,095 |
Highwoods
Properties, Inc. (a) |
45,901 |
1,053,887 |
Hudson
Pacific Properties, Inc. |
31,945 |
297,408 |
Kilroy
Realty Corp. |
53,090 |
2,115,105 |
SL
Green Realty Corp. (a) |
15,741 |
711,021 |
|
|
7,926,567 |
Oil,
Gas & Consumable Fuels — 3.7% | ||
Antero
Midstream Corp. |
76,064 |
953,082 |
Antero
Resources Corp. *
(a) |
31,267 |
709,136 |
California
Resources Corp. |
19,110 |
1,044,935 |
Callon
Petroleum Co. * |
11,341 |
367,448 |
Chord
Energy Corp. |
16,552 |
2,751,439 |
Civitas
Resources, Inc. (a) |
30,583 |
2,091,265 |
CNX
Resources Corp. *
(a) |
24,230 |
484,600 |
CONSOL
Energy, Inc. |
13,051 |
1,312,017 |
Dorian
LPG Ltd. |
7,649 |
335,562 |
DT
Midstream, Inc. |
14,814 |
811,807 |
Equitrans
Midstream Corp. |
105,479 |
1,073,776 |
Green
Plains, Inc. *
(a) |
29,817 |
751,985 |
HF
Sinclair Corp. (a) |
49,394 |
2,744,825 |
Matador
Resources Co. (a) |
66,446 |
3,778,120 |
Murphy
Oil Corp. |
38,820 |
1,656,061 |
Ovintiv,
Inc. |
63,037 |
2,768,585 |
PBF
Energy, Inc., Class A |
22,617 |
994,243 |
Permian
Resources Corp. (a) |
100,098 |
1,361,333 |
Range
Resources Corp. |
79,157 |
2,409,539 |
REX
American Resources Corp. * |
13,282 |
628,239 |
SM
Energy Co. |
75,496 |
2,923,205 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Oil,
Gas & Consumable Fuels — continued | ||
Southwestern
Energy Co. * |
465,856 |
3,051,357 |
Talos
Energy, Inc. * |
9,518 |
135,441 |
World
Kinect Corp. |
16,743 |
381,405 |
|
|
35,519,405 |
Paper
& Forest Products — 0.2% | ||
Louisiana-Pacific
Corp. |
26,329 |
1,864,883 |
Passenger
Airlines — 0.1% | ||
SkyWest,
Inc. * |
11,005 |
574,461 |
Personal
Care Products — 0.6% | ||
BellRing
Brands, Inc. * |
37,393 |
2,072,694 |
Coty,
Inc., Class A * |
78,692 |
977,355 |
elf
Beauty, Inc. * |
13,575 |
1,959,415 |
Inter
Parfums, Inc. |
5,046 |
726,674 |
USANA
Health Sciences, Inc. * |
3,036 |
162,730 |
|
|
5,898,868 |
Pharmaceuticals
— 0.7% | ||
Innoviva,
Inc. *
(a) |
165,428 |
2,653,465 |
Jazz
Pharmaceuticals plc * |
22,714 |
2,793,822 |
Prestige
Consumer Healthcare, Inc. * |
12,659 |
774,984 |
Supernus
Pharmaceuticals, Inc. * |
13,088 |
378,767 |
|
|
6,601,038 |
Professional
Services — 2.6% | ||
ASGN,
Inc. * |
15,476 |
1,488,327 |
CACI
International, Inc., Class A * |
12,566 |
4,069,625 |
Concentrix
Corp. (a) |
2,935 |
288,246 |
ExlService
Holdings, Inc. * |
47,428 |
1,463,154 |
FTI
Consulting, Inc. * |
9,489 |
1,889,734 |
Genpact
Ltd. |
96,050 |
3,333,895 |
Heidrick
& Struggles International, Inc. |
33,824 |
998,823 |
Insperity,
Inc. |
8,963 |
1,050,643 |
KBR,
Inc. |
35,940 |
1,991,435 |
Kelly
Services, Inc., Class A |
10,832 |
234,188 |
Korn
Ferry |
37,322 |
2,215,061 |
ManpowerGroup,
Inc. |
13,625 |
1,082,779 |
Maximus,
Inc. |
17,645 |
1,479,710 |
Paylocity
Holding Corp. * |
9,719 |
1,602,177 |
Resources
Connection, Inc. |
31,681 |
448,920 |
Science
Applications International Corp. |
13,552 |
1,684,784 |
|
|
25,321,501 |
Real
Estate Management & Development — 0.5% | ||
Anywhere
Real Estate, Inc. * |
44,379 |
359,914 |
eXp
World Holdings, Inc. (a) |
18,116 |
281,160 |
44
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Real
Estate Management & Development — continued | ||
Jones
Lang LaSalle, Inc. * |
20,030 |
3,783,066 |
St.
Joe Co. (The) |
9,808 |
590,246 |
|
|
5,014,386 |
Residential
REITs — 0.6% | ||
Apartment
Income REIT Corp. |
39,900 |
1,385,727 |
Centerspace |
12,748 |
741,933 |
Equity
LifeStyle Properties, Inc. |
41,621 |
2,935,945 |
NexPoint
Residential Trust, Inc. |
6,741 |
232,093 |
Veris
Residential, Inc. |
19,438 |
305,760 |
|
|
5,601,458 |
Retail
REITs — 1.9% | ||
Agree
Realty Corp. |
56,064 |
3,529,229 |
Brixmor
Property Group, Inc. |
158,266 |
3,682,850 |
Getty
Realty Corp. |
11,853 |
346,345 |
Kite
Realty Group Trust |
60,353 |
1,379,670 |
Macerich
Co. (The) |
15,597 |
240,662 |
NNN
REIT, Inc. |
76,869 |
3,313,054 |
Retail
Opportunity Investments Corp. |
155,348 |
2,179,532 |
RPT
Realty |
25,170 |
322,931 |
Saul
Centers, Inc. |
3,020 |
118,595 |
SITE
Centers Corp. |
44,476 |
606,208 |
Spirit
Realty Capital, Inc. |
35,579 |
1,554,446 |
Tanger,
Inc. (a) |
27,795 |
770,477 |
|
|
18,043,999 |
Semiconductors
& Semiconductor Equipment — 3.2% | ||
Axcelis
Technologies, Inc. * |
9,719 |
1,260,457 |
Cirrus
Logic, Inc. * |
11,320 |
941,711 |
Cohu,
Inc. * |
11,226 |
397,288 |
Diodes,
Inc. * |
10,930 |
880,084 |
FormFactor,
Inc. * |
23,556 |
982,521 |
Ichor
Holdings Ltd. * |
36,208 |
1,217,676 |
Kulicke
& Soffa Industries, Inc.
(Singapore) (a) |
62,885 |
3,441,067 |
Lattice
Semiconductor Corp. * |
38,543 |
2,659,082 |
MaxLinear,
Inc. * |
19,190 |
456,146 |
MKS
Instruments, Inc. |
14,691 |
1,511,263 |
Photronics,
Inc. * |
15,943 |
500,132 |
Power
Integrations, Inc. |
15,739 |
1,292,329 |
Rambus,
Inc. * |
30,831 |
2,104,216 |
Semtech
Corp. *
(a) |
18,563 |
406,715 |
Silicon
Laboratories, Inc. * |
21,666 |
2,865,762 |
SiTime
Corp. *
(a) |
4,203 |
513,102 |
SMART
Global Holdings, Inc. * |
58,695 |
1,111,096 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Semiconductors
& Semiconductor Equipment — continued | ||
SolarEdge
Technologies, Inc. * |
39,117 |
3,661,351 |
Synaptics,
Inc. * |
9,339 |
1,065,393 |
Ultra
Clean Holdings, Inc. * |
21,615 |
737,936 |
Universal
Display Corp. |
11,414 |
2,183,042 |
Veeco
Instruments, Inc. * |
1,871 |
58,057 |
Wolfspeed,
Inc. *
(a) |
18,005 |
783,398 |
|
|
31,029,824 |
Software
— 2.9% | ||
ACI
Worldwide, Inc. * |
29,432 |
900,619 |
Adeia,
Inc. |
101,055 |
1,252,071 |
Alarm.com
Holdings, Inc. * |
5,764 |
372,470 |
Aspen
Technology, Inc. * |
7,898 |
1,738,745 |
Blackbaud,
Inc. * |
12,898 |
1,118,257 |
DoubleVerify
Holdings, Inc. * |
54,767 |
2,014,330 |
Dynatrace,
Inc. * |
56,471 |
3,088,399 |
Envestnet,
Inc. * |
43,019 |
2,130,301 |
InterDigital,
Inc. |
8,756 |
950,376 |
LiveRamp
Holdings, Inc. * |
70,895 |
2,685,503 |
Manhattan
Associates, Inc. * |
17,814 |
3,835,710 |
NCR
Voyix Corp. * |
55,803 |
943,629 |
Progress
Software Corp. |
8,478 |
460,355 |
Qualys,
Inc. *
(a) |
8,844 |
1,735,900 |
SPS
Commerce, Inc. * |
10,833 |
2,099,869 |
Teradata
Corp. * |
28,380 |
1,234,814 |
Xperi,
Inc. * |
104,240 |
1,148,725 |
|
|
27,710,073 |
Specialized
REITs — 1.7% | ||
CubeSmart |
80,848 |
3,747,305 |
EPR
Properties |
19,459 |
942,788 |
Four
Corners Property Trust, Inc. |
24,116 |
610,135 |
Gaming
and Leisure Properties, Inc. |
49,326 |
2,434,238 |
Lamar
Advertising Co., Class A |
22,178 |
2,357,078 |
National
Storage Affiliates Trust |
35,061 |
1,453,980 |
PotlatchDeltic
Corp. |
48,406 |
2,376,735 |
Rayonier,
Inc. |
67,838 |
2,266,467 |
|
|
16,188,726 |
Specialty
Retail — 4.2% | ||
Abercrombie
& Fitch Co., Class A * |
16,139 |
1,423,783 |
Academy
Sports & Outdoors, Inc. |
17,381 |
1,147,146 |
American
Eagle Outfitters, Inc. |
57,294 |
1,212,341 |
Asbury
Automotive Group, Inc. * |
8,932 |
2,009,432 |
AutoNation,
Inc. *
(a) |
20,929 |
3,143,117 |
Boot
Barn Holdings, Inc. *
(a) |
7,926 |
608,400 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
45
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Specialty
Retail — continued | ||
Buckle,
Inc. (The) |
7,025 |
333,828 |
Burlington
Stores, Inc. * |
6,519 |
1,267,815 |
Caleres,
Inc. |
12,898 |
396,356 |
Chico's
FAS, Inc. * |
28,943 |
219,388 |
Designer
Brands, Inc., Class A (a) |
18,748 |
165,920 |
Dick's
Sporting Goods, Inc. |
18,229 |
2,678,752 |
Five
Below, Inc. * |
11,676 |
2,488,856 |
Floor
& Decor Holdings, Inc., Class A *
(a) |
14,874 |
1,659,344 |
Gap,
Inc. (The) |
53,985 |
1,128,826 |
Group
1 Automotive, Inc. |
10,391 |
3,166,553 |
Haverty
Furniture Cos., Inc. (a) |
4,526 |
160,673 |
Lithia
Motors, Inc., Class A |
7,080 |
2,331,302 |
Murphy
USA, Inc. |
6,129 |
2,185,356 |
ODP
Corp. (The) * |
15,051 |
847,371 |
RH *
(a) |
4,150 |
1,209,642 |
Shoe
Carnival, Inc. |
5,262 |
158,965 |
Signet
Jewelers Ltd. |
15,739 |
1,688,165 |
Upbound
Group, Inc. |
32,304 |
1,097,367 |
Urban
Outfitters, Inc. * |
19,056 |
680,109 |
Valvoline,
Inc. * |
52,227 |
1,962,691 |
Victoria's
Secret & Co. * |
23,519 |
624,194 |
Williams-Sonoma,
Inc. (a) |
22,801 |
4,600,786 |
|
|
40,596,478 |
Technology
Hardware, Storage & Peripherals — 0.5% | ||
Super
Micro Computer, Inc. *
(a) |
17,217 |
4,894,103 |
Textiles,
Apparel & Luxury Goods — 1.9% | ||
Capri
Holdings Ltd. * |
42,700 |
2,145,248 |
Carter's,
Inc. (a) |
8,963 |
671,239 |
Columbia
Sportswear Co. (a) |
2,270 |
180,556 |
Crocs,
Inc. * |
17,433 |
1,628,417 |
Deckers
Outdoor Corp. * |
7,822 |
5,228,459 |
G-III
Apparel Group Ltd. * |
11,676 |
396,750 |
Kontoor
Brands, Inc. |
15,348 |
958,022 |
Oxford
Industries, Inc. |
4,150 |
415,000 |
PVH
Corp. |
17,948 |
2,191,810 |
Skechers
U.S.A., Inc., Class A * |
48,584 |
3,028,727 |
Steven
Madden Ltd. (a) |
22,294 |
936,348 |
Wolverine
World Wide, Inc. |
12,732 |
113,187 |
|
|
17,893,763 |
Tobacco
— 0.0% ^ | ||
Vector
Group Ltd. |
32,807 |
370,063 |
Trading
Companies & Distributors — 1.7% | ||
Applied
Industrial Technologies, Inc. |
9,903 |
1,710,149 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Trading
Companies & Distributors — continued | ||
Boise
Cascade Co. |
17,814 |
2,304,419 |
Core
& Main, Inc., Class A * |
32,786 |
1,324,882 |
DXP
Enterprises, Inc. * |
3,498 |
117,883 |
GATX
Corp. |
6,133 |
737,309 |
GMS,
Inc. * |
39,022 |
3,216,584 |
MSC
Industrial Direct Co., Inc., Class A |
12,635 |
1,279,420 |
NOW,
Inc. * |
155,781 |
1,763,441 |
Watsco,
Inc. (a) |
8,996 |
3,854,516 |
|
|
16,308,603 |
Water
Utilities — 0.5% | ||
American
States Water Co. |
9,763 |
785,140 |
California
Water Service Group |
12,898 |
669,019 |
Essential
Utilities, Inc. |
89,736 |
3,351,640 |
|
|
4,805,799 |
Wireless
Telecommunication Services — 0.1% | ||
Gogo,
Inc. * |
61,644 |
624,454 |
Telephone
and Data Systems, Inc. |
22,730 |
417,095 |
|
|
1,041,549 |
Total
Common Stocks
(Cost
$653,342,893) |
|
937,788,092 |
Short-Term
Investments — 8.3% | ||
Investment
Companies — 1.8% | ||
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (b)
(c)
(Cost
$17,269,616) |
17,269,616 |
17,269,616 |
Investment
of Cash Collateral from Securities Loaned — 6.5% | ||
JPMorgan
Securities Lending Money Market
Fund
Agency SL Class Shares, 5.56% (b)
(c) |
54,988,003 |
55,009,998 |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (b)
(c) |
7,463,967 |
7,463,967 |
Total
Investment of Cash Collateral from
Securities
Loaned
(Cost
$62,467,966) |
|
62,473,965 |
Total
Short-Term Investments
(Cost
$79,737,582) |
|
79,743,581 |
Total
Investments — 106.4%
(Cost
$733,080,475) |
|
1,017,531,673 |
Liabilities
in Excess of Other Assets —
(6.4)% |
|
(61,450,457
) |
NET
ASSETS — 100.0% |
|
956,081,216 |
Percentages
indicated are based on net
assets. |
46
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
Abbreviations |
|
REIT |
Real
Estate Investment Trust |
^ |
Amount
rounds to less than 0.1% of net assets. | |
* |
Non-income
producing security.
|
|
(a) |
The
security or a portion of this security is on loan at
December
31, 2023. The total value of securities on
loan
at December 31, 2023 is $60,173,842. |
|
(b) |
Investment
in an affiliated fund, which is registered
under
the Investment Company Act of 1940, as
amended,
and is advised by J.P. Morgan Investment
Management
Inc. |
|
(c) |
The
rate shown is the current yield as of December
31,
2023. |
|
DESCRIPTION |
NUMBER
OF
CONTRACTS |
EXPIRATION
DATE |
TRADING
CURRENCY |
NOTIONAL
AMOUNT
($) |
VALUE
AND
UNREALIZED
APPRECIATION
(DEPRECIATION)
($) |
Long
Contracts |
|
|
|
|
|
Russell
2000 E-Mini Index |
33 |
03/15/2024 |
USD |
3,378,870 |
261,192 |
S&P
MidCap 400 E-Mini Index |
39 |
03/15/2024 |
USD |
10,955,880 |
622,517 |
|
|
|
|
|
883,709 |
Abbreviations |
|
USD |
United
States Dollar |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
47
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 83.1% | ||
Air
Freight & Logistics — 0.2% | ||
United
Parcel Service, Inc., Class B |
122,291 |
19,227,814 |
Automobiles
— 2.9% | ||
Tesla,
Inc. * |
986,021 |
245,006,498 |
Beverages
— 2.5% | ||
Coca-Cola
Co. (The) |
762,895 |
44,957,402 |
Constellation
Brands, Inc., Class A |
143,748 |
34,751,079 |
Monster
Beverage Corp. * |
913,728 |
52,639,870 |
PepsiCo,
Inc. |
495,041 |
84,077,764 |
|
|
216,426,115 |
Biotechnology
— 3.3% | ||
AbbVie,
Inc. |
282,225 |
43,736,408 |
Amgen,
Inc. |
151,639 |
43,675,065 |
Biogen,
Inc. * |
140,120 |
36,258,853 |
Regeneron
Pharmaceuticals, Inc. * |
94,959 |
83,401,540 |
Vertex
Pharmaceuticals, Inc. * |
180,181 |
73,313,847 |
|
|
280,385,713 |
Broadline
Retail — 4.9% | ||
Amazon.com,
Inc. * |
2,404,729 |
365,374,524 |
MercadoLibre,
Inc. (Brazil) * |
33,813 |
53,138,482 |
|
|
418,513,006 |
Commercial
Services & Supplies — 0.6% | ||
Copart,
Inc. * |
1,043,741 |
51,143,309 |
Communications
Equipment — 1.4% | ||
Cisco
Systems, Inc. |
2,280,825 |
115,227,279 |
Consumer
Staples Distribution & Retail — 1.8% | ||
Costco
Wholesale Corp. |
189,716 |
125,227,737 |
Dollar
Tree, Inc. * |
171,484 |
24,359,302 |
|
|
149,587,039 |
Electric
Utilities — 1.1% | ||
NextEra
Energy, Inc. |
431,849 |
26,230,508 |
Southern
Co. (The) |
285,481 |
20,017,928 |
Xcel
Energy, Inc. |
727,872 |
45,062,555 |
|
|
91,310,991 |
Electrical
Equipment — 0.4% | ||
Eaton
Corp. plc |
127,361 |
30,671,076 |
Entertainment
— 2.0% | ||
Netflix,
Inc. * |
281,822 |
137,213,495 |
Take-Two
Interactive Software, Inc. * |
221,312 |
35,620,167 |
|
|
172,833,662 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Financial
Services — 0.8% | ||
FleetCor
Technologies, Inc. * |
70,045 |
19,795,417 |
Mastercard,
Inc., Class A |
64,774 |
27,626,759 |
PayPal
Holdings, Inc. * |
340,348 |
20,900,771 |
|
|
68,322,947 |
Food
Products — 1.3% | ||
Kraft
Heinz Co. (The) |
907,884 |
33,573,550 |
Mondelez
International, Inc., Class A |
1,051,632 |
76,169,706 |
|
|
109,743,256 |
Ground
Transportation — 0.9% | ||
CSX
Corp. |
1,555,170 |
53,917,744 |
Uber
Technologies, Inc. * |
387,324 |
23,847,539 |
|
|
77,765,283 |
Health
Care Equipment & Supplies — 1.7% | ||
Dexcom,
Inc. * |
449,880 |
55,825,609 |
Intuitive
Surgical, Inc. * |
254,087 |
85,718,791 |
|
|
141,544,400 |
Health
Care Providers & Services — 0.4% | ||
UnitedHealth
Group, Inc. |
58,727 |
30,918,004 |
Hotels,
Restaurants & Leisure — 3.0% | ||
Airbnb,
Inc., Class A * |
95,362 |
12,982,583 |
Booking
Holdings, Inc. * |
31,999 |
113,507,493 |
Chipotle
Mexican Grill, Inc. * |
18,635 |
42,617,500 |
DoorDash,
Inc., Class A * |
145,159 |
14,354,773 |
Marriott
International, Inc., Class A |
221,514 |
49,953,622 |
Starbucks
Corp. |
208,149 |
19,984,385 |
|
|
253,400,356 |
Industrial
Conglomerates — 0.8% | ||
Honeywell
International, Inc. |
339,138 |
71,120,630 |
Industrial
REITs — 0.3% | ||
Prologis,
Inc. |
186,662 |
24,882,045 |
Interactive
Media & Services — 7.7% | ||
Alphabet,
Inc., Class C * |
2,566,073 |
361,636,668 |
Meta
Platforms, Inc., Class A * |
825,250 |
292,105,490 |
|
|
653,742,158 |
IT
Services — 0.5% | ||
Cognizant
Technology Solutions Corp.,
Class
A |
184,042 |
13,900,692 |
MongoDB,
Inc. * |
60,743 |
24,834,776 |
|
|
38,735,468 |
48
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Life
Sciences Tools & Services — 0.3% | ||
Thermo
Fisher Scientific, Inc. |
47,177 |
25,041,080 |
Machinery
— 0.4% | ||
Deere
& Co. |
83,006 |
33,191,609 |
Media
— 1.8% | ||
Charter
Communications, Inc., Class A * |
78,773 |
30,617,490 |
Comcast
Corp., Class A |
2,619,530 |
114,866,390 |
Trade
Desk, Inc. (The), Class A * |
144,151 |
10,373,106 |
|
|
155,856,986 |
Oil,
Gas & Consumable Fuels — 0.3% | ||
Diamondback
Energy, Inc. |
172,693 |
26,781,230 |
Pharmaceuticals
— 0.2% | ||
Bristol-Myers
Squibb Co. |
410,795 |
21,077,891 |
Professional
Services — 0.4% | ||
Verisk
Analytics, Inc. |
155,500 |
37,142,730 |
Semiconductors
& Semiconductor Equipment — 16.5% | ||
Advanced
Micro Devices, Inc. * |
1,142,730 |
168,449,829 |
Analog
Devices, Inc. |
472,344 |
93,788,625 |
Applied
Materials, Inc. |
316,876 |
51,356,093 |
ASML
Holding NV (Registered), NYRS
(Netherlands) |
76,525 |
57,923,303 |
Broadcom,
Inc. |
217,653 |
242,955,161 |
Intel
Corp. |
1,460,008 |
73,365,402 |
Lam
Research Corp. |
106,509 |
83,424,240 |
Marvell
Technology, Inc. |
647,891 |
39,074,306 |
Micron
Technology, Inc. |
427,365 |
36,471,329 |
NVIDIA
Corp. |
562,668 |
278,644,447 |
NXP
Semiconductors NV (China) |
282,225 |
64,821,438 |
QUALCOMM,
Inc. |
684,959 |
99,065,620 |
Teradyne,
Inc. |
290,349 |
31,508,674 |
Texas
Instruments, Inc. |
442,593 |
75,444,403 |
|
|
1,396,292,870 |
Software
— 14.9% | ||
Adobe,
Inc. * |
274,939 |
164,028,607 |
ANSYS,
Inc. * |
27,697 |
10,050,687 |
Crowdstrike
Holdings, Inc., Class A * |
166,616 |
42,540,397 |
HubSpot,
Inc. * |
48,789 |
28,323,966 |
Intuit,
Inc. |
211,576 |
132,241,347 |
Microsoft
Corp. |
1,679,274 |
631,474,195 |
Oracle
Corp. |
255,327 |
26,919,126 |
Palo
Alto Networks, Inc. * |
262,210 |
77,320,485 |
ServiceNow,
Inc. * |
44,557 |
31,479,075 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Software
— continued | ||
Synopsys,
Inc. * |
157,112 |
80,898,540 |
Workday,
Inc., Class A * |
133,841 |
36,948,147 |
|
|
1,262,224,572 |
Specialty
Retail — 1.2% | ||
Lowe's
Cos., Inc. |
164,600 |
36,631,730 |
O'Reilly
Automotive, Inc. * |
59,130 |
56,178,230 |
Ross
Stores, Inc. |
78,137 |
10,813,380 |
|
|
103,623,340 |
Technology
Hardware, Storage & Peripherals — 7.5% | ||
Apple,
Inc. |
3,139,283 |
604,406,156 |
Seagate
Technology Holdings plc |
372,750 |
31,821,667 |
|
|
636,227,823 |
Textiles,
Apparel & Luxury Goods — 0.2% | ||
Lululemon
Athletica, Inc. * |
36,433 |
18,627,829 |
Wireless
Telecommunication Services — 0.9% | ||
T-Mobile
US, Inc. |
476,810 |
76,446,947 |
Total
Common Stocks
(Cost
$6,149,455,532) |
|
7,053,041,956 |
|
PRINCIPAL
AMOUNT($) |
|
Equity-Linked
Notes — 15.7% | ||
BNP
Paribas, ELN, 55.52%, 1/26/2024,
(linked
to S&P 500 Index) (a) |
17,249 |
292,663,783 |
GS
Finance Corp., ELN, 54.18%, 1/5/2024,
(linked
to Nasdaq-100 Index) (a) |
16,551 |
239,347,652 |
Royal
Bank of Canada, ELN, 51.66%,
1/19/2024,
(linked to S&P 500 Index)
(Canada) (a) |
17,120 |
271,174,979 |
Societe
Generale, ELN, 56.37%, 1/12/2024,
(linked
to S&P 500 Index) (France) (a) |
17,004 |
236,459,325 |
The
Bank of Nova Scotia, ELN, 54.70%,
2/2/2024,
(linked to Nasdaq-100 Index)
(Canada) (a) |
17,181 |
293,288,432 |
Total
Equity-Linked Notes
(Cost
$1,394,934,562) |
|
1,332,934,171 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
49
|
INVESTMENTS |
SHARES |
VALUE($) |
Short-Term
Investments — 0.6% | ||
Investment
Companies — 0.6% | ||
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (b)
(c)
(Cost
$44,936,965) |
44,936,965 |
44,936,965 |
Total
Investments — 99.4%
(Cost
$7,589,327,059) |
|
8,430,913,092 |
Other
Assets Less Liabilities — 0.6% |
|
54,093,383 |
NET
ASSETS — 100.0% |
|
8,485,006,475 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ELN |
Equity-Linked
Note |
NYRS |
New
York Registry Shares |
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
Securities
exempt from registration under Rule 144A or section
4(a)(2),
of the Securities Act of 1933, as amended. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of December 31,
2023. |
50
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 98.8% | ||
Automobiles
— 3.9% | ||
Tesla,
Inc. * |
29,768 |
7,396,753 |
Banks
— 0.5% | ||
NU
Holdings Ltd., Class A (Brazil) * |
120,934 |
1,007,380 |
Broadline
Retail — 4.6% | ||
Amazon.com,
Inc. * |
40,172 |
6,103,734 |
MercadoLibre,
Inc. (Brazil) * |
1,691 |
2,657,474 |
|
|
8,761,208 |
Capital
Markets — 0.3% | ||
Robinhood
Markets, Inc., Class A * |
48,454 |
617,304 |
Communications
Equipment — 0.9% | ||
Arista
Networks, Inc. * |
7,424 |
1,748,426 |
Electrical
Equipment — 0.3% | ||
Vicor
Corp. * |
14,430 |
648,484 |
Electronic
Equipment, Instruments & Components — 2.2% | ||
Amphenol
Corp., Class A |
20,796 |
2,061,507 |
Jabil,
Inc. |
16,247 |
2,069,868 |
|
|
4,131,375 |
Entertainment
— 4.9% | ||
Netflix,
Inc. * |
12,328 |
6,002,257 |
Take-Two
Interactive Software, Inc. * |
21,491 |
3,458,976 |
|
|
9,461,233 |
Ground
Transportation — 2.8% | ||
Uber
Technologies, Inc. * |
87,754 |
5,403,014 |
Health
Care Equipment & Supplies — 0.7% | ||
Dexcom,
Inc. * |
10,197 |
1,265,346 |
Health
Care Technology — 0.8% | ||
Veeva
Systems, Inc., Class A * |
8,287 |
1,595,413 |
Hotels,
Restaurants & Leisure — 1.9% | ||
Booking
Holdings, Inc. * |
1,039 |
3,685,562 |
Interactive
Media & Services — 8.4% | ||
Alphabet,
Inc., Class C * |
43,053 |
6,067,459 |
Meta
Platforms, Inc., Class A * |
28,049 |
9,928,224 |
|
|
15,995,683 |
IT
Services — 7.4% | ||
MongoDB,
Inc. * |
10,182 |
4,162,911 |
Okta,
Inc. * |
15,897 |
1,439,155 |
Shopify,
Inc., Class A (Canada) * |
67,504 |
5,258,562 |
Snowflake,
Inc., Class A * |
16,702 |
3,323,698 |
|
|
14,184,326 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Media
— 1.4% | ||
Trade
Desk, Inc. (The), Class A * |
37,178 |
2,675,329 |
Semiconductors
& Semiconductor Equipment — 24.1% | ||
Advanced
Micro Devices, Inc. * |
44,330 |
6,534,685 |
Analog
Devices, Inc. |
9,900 |
1,965,744 |
ASML
Holding NV (Registered), NYRS
(Netherlands) |
3,004 |
2,273,788 |
Axcelis
Technologies, Inc. * |
4,029 |
522,521 |
Broadcom,
Inc. |
2,598 |
2,900,017 |
Credo
Technology Group Holding Ltd. * |
109,619 |
2,134,282 |
Entegris,
Inc. |
14,243 |
1,706,596 |
First
Solar, Inc. * |
3,902 |
672,237 |
Lam
Research Corp. |
5,979 |
4,683,112 |
Marvell
Technology, Inc. |
35,494 |
2,140,643 |
Micron
Technology, Inc. |
25,221 |
2,152,360 |
MKS
Instruments, Inc. |
11,867 |
1,220,758 |
Monolithic
Power Systems, Inc. |
5,330 |
3,362,057 |
NVIDIA
Corp. |
15,866 |
7,857,161 |
Onto
Innovation, Inc. * |
4,938 |
755,020 |
Rambus,
Inc. * |
20,670 |
1,410,728 |
Universal
Display Corp. |
13,884 |
2,655,454 |
Wolfspeed,
Inc. * |
24,344 |
1,059,207 |
|
|
46,006,370 |
Software
— 31.7% | ||
Adobe,
Inc. * |
8,048 |
4,801,437 |
Atlassian
Corp., Class A * |
8,560 |
2,036,082 |
Bill
Holdings, Inc. * |
13,657 |
1,114,275 |
Confluent,
Inc., Class A * |
94,240 |
2,205,216 |
Crowdstrike
Holdings, Inc., Class A * |
11,700 |
2,987,244 |
Datadog,
Inc., Class A * |
21,063 |
2,556,627 |
Elastic
NV * |
33,377 |
3,761,588 |
HashiCorp,
Inc., Class A * |
17,418 |
411,762 |
HubSpot,
Inc. * |
6,888 |
3,998,759 |
Intuit,
Inc. |
4,552 |
2,845,137 |
Microsoft
Corp. |
7,678 |
2,887,235 |
Oracle
Corp. |
49,116 |
5,178,300 |
Palo
Alto Networks, Inc. * |
6,499 |
1,916,425 |
Procore
Technologies, Inc. * |
31,201 |
2,159,733 |
Salesforce,
Inc. * |
18,367 |
4,833,092 |
ServiceNow,
Inc. * |
4,421 |
3,123,392 |
Synopsys,
Inc. * |
12,870 |
6,626,892 |
Unity
Software, Inc. * |
49,497 |
2,023,932 |
Workday,
Inc., Class A * |
18,286 |
5,048,033 |
|
|
60,515,161 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
51
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Specialized
REITs — 1.6% | ||
American
Tower Corp. |
3,379 |
729,458 |
Equinix,
Inc. |
2,861 |
2,304,221 |
|
|
3,033,679 |
Technology
Hardware, Storage & Peripherals — 0.4% | ||
Super
Micro Computer, Inc. * |
2,472 |
702,691 |
Total
Common Stocks
(Cost
$177,493,146) |
|
188,834,737 |
Short-Term
Investments — 1.2% | ||
Investment
Companies — 1.2% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.30% (a)
(b)
(Cost
$2,334,749) |
2,334,749 |
2,334,749 |
Total
Investments — 100.0%
(Cost
$179,827,895) |
|
191,169,486 |
Liabilities
in Excess of Other Assets — (0.0)%
^ |
|
(49,572
) |
NET
ASSETS — 100.0% |
|
191,119,914 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
NYRS |
New
York Registry Shares |
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 December
31,
2023. |
|
52
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
JPMorgan
Active
Growth
ETF |
JPMorgan
Active
Small Cap
Value
ETF |
JPMorgan
Active
Value
ETF |
JPMorgan
Equity
Premium
Income
ETF |
ASSETS: |
|
|
|
|
Investments
in non-affiliates, at value |
$844,795,812 |
$13,864,554 |
$759,610,306 |
$30,136,302,432
|
Investments
in affiliates, at value |
17,759,640 |
535,500 |
21,877,028 |
8,580,135 |
Investments
of cash collateral received from securities loaned, at
value (See
Note 2.C.) |
— |
38,770 |
— |
172,559,627 |
Cash |
80,226 |
2,204 |
103,210 |
265,298,605 |
Receivables: |
|
|
|
|
Investment
securities sold |
876 |
12,957 |
77,616 |
830,120,220 |
Fund
shares sold |
106,005 |
— |
— |
13,422,798 |
Interest
from non-affiliates |
— |
— |
— |
89,585,610 |
Dividends
from non-affiliates |
64,164 |
14,957 |
949,808 |
42,182,680 |
Dividends
from affiliates |
2,577 |
78 |
3,174 |
1,245 |
Securities
lending income (See
Note 2.C.) |
— |
234 |
— |
43,026 |
Total
Assets |
862,809,300 |
14,469,254 |
782,621,142 |
31,558,096,378 |
LIABILITIES: |
|
|
|
|
Payables: |
|
|
|
|
Distributions |
100,036 |
— |
— |
237,445,245 |
Investment
securities purchased |
— |
15,659 |
— |
595,995,551 |
Collateral
received on securities loaned (See
Note 2.C.) |
— |
38,770 |
— |
172,559,627 |
Accrued
liabilities: |
|
|
|
|
Management
fees (See
Note 3.A.) |
298,741 |
7,821 |
275,149 |
9,010,771 |
Total
Liabilities |
398,777 |
62,250 |
275,149 |
1,015,011,194 |
Net
Assets |
$862,410,523 |
$14,407,004 |
$782,345,993 |
$30,543,085,184 |
NET
ASSETS: |
|
|
|
|
Paid-in-Capital |
$745,838,173 |
$13,389,428 |
$730,461,697 |
$31,562,871,708
|
Total
distributable earnings (loss) |
116,572,350 |
1,017,576 |
51,884,296 |
(1,019,786,524
) |
Total
Net Assets |
$862,410,523 |
$14,407,004 |
$782,345,993 |
$30,543,085,184 |
Outstanding
number of shares
(unlimited
number of shares authorized - par value $0.0001) |
14,125,000 |
265,000 |
14,075,000 |
555,500,000 |
Net
asset value, per share |
$61.06 |
$54.37 |
$55.58 |
$54.98 |
Cost
of investments in non-affiliates |
$710,409,670 |
$12,812,933 |
$695,802,994 |
$27,083,787,970 |
Cost
of investments in affiliates |
17,759,640 |
535,500 |
21,877,028 |
8,580,135 |
Investment
securities on loan, at value (See
Note 2.C.) |
— |
38,265 |
— |
169,175,386 |
Cost
of investment of cash collateral (See
Note 2.C.) |
— |
38,770 |
— |
172,556,019 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
53
|
|
JPMorgan
Market
Expansion
Enhanced
Equity
ETF |
JPMorgan
Nasdaq
Equity
Premium
Income ETF |
JPMorgan
U.S.
Tech
Leaders
ETF |
ASSETS: |
|
|
|
Investments
in non-affiliates, at value |
$937,788,092 |
$8,385,976,127 |
$188,834,737 |
Investments
in affiliates, at value |
17,269,616 |
44,936,965 |
2,334,749 |
Investments
of cash collateral received from securities loaned, at value (See
Note
2.C.) |
62,473,965 |
— |
— |
Cash |
119,445 |
309,716 |
7,576 |
Deposits
at broker for futures contracts |
1,003,000 |
— |
— |
Receivables: |
|
|
|
Investment
securities sold |
2,732,576 |
78,200,841 |
— |
Fund
shares sold |
— |
13,988,652 |
— |
Interest
from non-affiliates |
— |
33,022,231 |
— |
Dividends
from non-affiliates |
1,226,038 |
5,080,493 |
26,269 |
Dividends
from affiliates |
2,506 |
6,520 |
339 |
Securities
lending income (See
Note 2.C.) |
10,588 |
— |
— |
Total
Assets |
1,022,625,826 |
8,561,521,545 |
191,203,670 |
LIABILITIES: |
|
|
|
Payables: |
|
|
|
Distributions |
— |
66,329,120 |
— |
Investment
securities purchased |
3,699,592 |
7,837,274 |
— |
Collateral
received on securities loaned (See
Note 2.C.) |
62,473,965 |
— |
— |
Variation
margin on futures contracts |
155,311 |
— |
— |
Accrued
liabilities: |
|
|
|
Investment
advisory fees |
109,996 |
— |
— |
Administration
fees |
59,386 |
— |
— |
Printing
and mailing costs |
13,881 |
— |
— |
Management
fees (See
Note 3.A.) |
— |
2,348,676 |
83,756 |
Custodian
and accounting fees |
14,120 |
— |
— |
Other |
18,359 |
— |
— |
Total
Liabilities |
66,544,610 |
76,515,070 |
83,756 |
Net
Assets |
$956,081,216 |
$8,485,006,475 |
$191,119,914 |
NET
ASSETS: |
|
|
|
Paid-in-Capital |
$667,069,840 |
$7,986,942,934 |
$179,544,961 |
Total
distributable earnings (loss) |
289,011,376 |
498,063,541 |
11,574,953 |
Total
Net Assets |
$956,081,216 |
$8,485,006,475 |
$191,119,914 |
Outstanding
number of shares
(unlimited
number of shares authorized - par value $0.0001) |
17,823,634 |
169,925,000 |
3,250,000 |
Net
asset value, per share |
$53.64 |
$49.93 |
$58.81 |
Cost
of investments in non-affiliates |
$653,342,893 |
$7,544,390,094 |
$177,493,146 |
Cost
of investments in affiliates |
17,269,616 |
44,936,965 |
2,334,749 |
Investment
securities on loan, at value (See
Note 2.C.) |
60,173,842 |
— |
— |
Cost
of investment of cash collateral (See
Note 2.C.) |
62,467,966 |
— |
— |
54
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
JPMorgan
Active
Growth
ETF
|
JPMorgan
Active
Small Cap
Value
ETF
|
JPMorgan
Active
Value
ETF
|
JPMorgan
Equity
Premium
Income
ETF
|
INVESTMENT
INCOME: |
|
|
|
|
Interest
income from non-affiliates |
$— |
$— |
$— |
$962,922,686 |
Interest
income from affiliates |
148 |
— |
6 |
112,040 |
Dividend
income from non-affiliates |
1,629,639 |
112,272 |
6,710,914 |
231,550,005 |
Dividend
income from affiliates |
440,843 |
9,654 |
501,516 |
7,000,884 |
Income
from securities lending (net) (See
Note 2.C.) |
— |
646 |
14,065 |
574,983 |
Total
investment income |
2,070,630 |
122,572 |
7,226,501 |
1,202,160,598 |
EXPENSES: |
|
|
|
|
Management
fees (See
Note 3.A.) |
1,220,404 |
41,272 |
1,294,243 |
51,458,989 |
Interest
expense to non-affiliates |
— |
— |
— |
5 |
Total
expenses |
1,220,404 |
41,272 |
1,294,243 |
51,458,994 |
Net
investment income (loss) |
850,226 |
81,300 |
5,932,258 |
1,150,701,604 |
REALIZED/UNREALIZED
GAINS (LOSSES): |
|
|
|
|
Net
realized gain (loss) on transactions from: |
|
|
|
|
Investments
in non-affiliates |
(8,879,317
) |
(2,528
) |
(8,313,505
) |
(1,652,419,871
) |
In-kind
redemptions of investments in non-affiliates (See
Note 4) |
3,033,877 |
— |
1,525,581 |
195,228,140 |
Futures
contracts |
— |
— |
— |
2,575,381 |
Foreign
currency transactions |
— |
— |
(120
) |
— |
Net
realized gain (loss) |
(5,845,440
) |
(2,528
) |
(6,788,044
) |
(1,454,616,350
) |
Change
in net unrealized appreciation/depreciation on: |
|
|
|
|
Investments
in non-affiliates |
77,326,316 |
1,198,229 |
44,287,007 |
1,529,094,881 |
Investments
in affiliates |
— |
— |
— |
21,203 |
Foreign
currency translations |
— |
— |
(4
) |
— |
Change
in net unrealized appreciation/depreciation |
77,326,316 |
1,198,229 |
44,287,003 |
1,529,116,084 |
Net
realized/unrealized gains (losses) |
71,480,876 |
1,195,701 |
37,498,959 |
74,499,734 |
Change
in net assets resulting from operations |
$72,331,102 |
$1,277,001 |
$43,431,217 |
$1,225,201,338 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
55
|
|
JPMorgan
Market
Expansion
Enhanced
Equity
ETF
|
JPMorgan
Nasdaq
Equity
Premium
Income ETF
|
JPMorgan
U.S.
Tech Leaders
ETF (a) |
INVESTMENT
INCOME: |
|
|
|
Interest
income from non-affiliates |
$25,849 |
$307,634,346 |
$— |
Interest
income from affiliates |
6 |
— |
— |
Dividend
income from non-affiliates |
6,532,636 |
23,244,309 |
54,637 |
Dividend
income from affiliates |
448,755 |
1,652,365 |
10,565 |
Income
from securities lending (net) (See
Note 2.C.) |
36,615 |
2 |
— |
Total
investment income |
7,043,861 |
332,531,022 |
65,202 |
EXPENSES: |
|
|
|
Management
fees (See
Note 3.A.) |
— |
10,290,938 |
107,604 |
Investment
advisory fees |
1,094,777 |
— |
— |
Administration
fees |
328,435 |
— |
— |
Custodian
and accounting fees |
12,317 |
— |
— |
Interest
expense to non-affiliates |
841 |
4,298 |
261 |
Professional
fees |
30,133 |
— |
— |
Trustees’
and Chief Compliance Officer’s fees |
11,719 |
— |
— |
Printing
and mailing costs |
16,059 |
— |
— |
Registration
and filing fees |
1,459 |
— |
— |
Other |
17,105 |
— |
— |
Total
expenses |
1,512,845 |
10,295,236 |
107,865 |
Less
fees waived |
(10,305
) |
— |
— |
Less
expense reimbursements |
(462,795
) |
— |
— |
Net
expenses |
1,039,745 |
10,295,236 |
107,865 |
Net
investment income (loss) |
6,004,116 |
322,235,786 |
(42,663
) |
REALIZED/UNREALIZED
GAINS (LOSSES): |
|
|
|
Net
realized gain (loss) on transactions from: |
|
|
|
Investments
in non-affiliates |
6,107,623 |
(321,913,961
) |
(235,680
) |
In-kind
redemptions of investments in non-affiliates (See
Note 4) |
5,713,909 |
300,497,388 |
511,705 |
Futures
contracts |
1,739,820 |
7,623,826 |
— |
Net
realized gain (loss) |
13,561,352 |
(13,792,747
) |
276,025 |
Change
in net unrealized appreciation/depreciation on: |
|
|
|
Investments
in non-affiliates |
54,215,111 |
307,419,501 |
11,341,591 |
Investments
in affiliates |
5,999 |
— |
— |
Futures
contracts |
479,009 |
— |
— |
Change
in net unrealized appreciation/depreciation |
54,700,119 |
307,419,501 |
11,341,591 |
Net
realized/unrealized gains (losses) |
68,261,471 |
293,626,754 |
11,617,616 |
Change
in net assets resulting from operations |
$74,265,587 |
$615,862,540 |
$11,574,953 |
56
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
JPMorgan
Active
Growth
ETF |
JPMorgan
Active
Small Cap
Value
ETF | ||
|
Six
Months Ended
December
31, 2023
(Unaudited) |
Period
Ended
June
30, 2023 (a) |
Six
Months Ended
December
31, 2023
(Unaudited) |
Period
Ended June
30, 2023 (b) |
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
|
|
Net
investment income (loss) |
$850,226 |
$663,053 |
$81,300 |
$50,609 |
Net
realized gain (loss) |
(5,845,440
) |
(7,004,640
) |
(2,528
) |
(24,645
) |
Change
in net unrealized appreciation/depreciation |
77,326,316 |
57,059,826 |
1,198,229 |
(146,608
) |
Change
in net assets resulting from operations |
72,331,102 |
50,718,239 |
1,277,001 |
(120,644
) |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
|
|
Total
distributions to shareholders |
(1,449,368
) |
(206,646
) |
(138,781
) |
— |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Change
in net assets resulting from capital transactions |
433,498,411 |
307,518,785 |
2,432,128 |
10,957,300 |
NET
ASSETS: |
|
|
|
|
Change
in net assets |
504,380,145 |
358,030,378 |
3,570,348 |
10,836,656 |
Beginning
of period |
358,030,378 |
— |
10,836,656 |
— |
End
of period |
$862,410,523 |
$358,030,378 |
$14,407,004 |
$10,836,656 |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Proceeds
from shares issued |
$443,370,672 |
$329,978,902 |
$2,432,128 |
$10,957,300 |
Cost
of shares redeemed |
(9,872,261
) |
(22,460,117
) |
— |
— |
Total
change in net assets resulting from capital
transactions |
$433,498,411 |
$307,518,785 |
$2,432,128 |
$10,957,300 |
SHARE
TRANSACTIONS: |
|
|
|
|
Issued |
7,875,000 |
6,875,000 |
45,000 |
220,000 |
Redeemed |
(175,000
) |
(450,000
) |
— |
— |
Net
increase (decrease) in shares from share
transactions |
7,700,000 |
6,425,000 |
45,000 |
220,000 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
57
|
|
JPMorgan
Active
Value
ETF |
JPMorgan
Equity
Premium
Income ETF | ||
|
Six
Months Ended
December
31, 2023
(Unaudited) |
Year
Ended
June
30, 2023
|
Six
Months Ended
December
31, 2023
(Unaudited) |
Year
Ended
June
30, 2023
|
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
|
|
Net
investment income (loss) |
$5,932,258 |
$4,726,777 |
$1,150,701,604 |
$1,946,111,691 |
Net
realized gain (loss) |
(6,788,044
) |
(2,237,043
) |
(1,454,616,350
) |
(1,801,885,017
) |
Change
in net unrealized appreciation/depreciation |
44,287,003 |
21,464,209 |
1,529,116,084 |
1,882,934,265 |
Change
in net assets resulting from operations |
43,431,217 |
23,953,943 |
1,225,201,338 |
2,027,160,939 |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
|
|
Total
distributions to shareholders |
(6,440,706
) |
(4,338,724
) |
(1,364,115,354
) |
(1,873,734,871
) |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Change
in net assets resulting from capital transactions |
326,912,854 |
354,602,282 |
2,635,302,872 |
17,686,859,307 |
NET
ASSETS: |
|
|
|
|
Change
in net assets |
363,903,365 |
374,217,501 |
2,496,388,856 |
17,840,285,375 |
Beginning
of period |
418,442,628 |
44,225,127 |
28,046,696,328 |
10,206,410,953 |
End
of period |
$782,345,993 |
$418,442,628 |
$30,543,085,184 |
$28,046,696,328 |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Proceeds
from shares issued |
$335,971,228 |
$370,777,128 |
$3,766,410,893 |
$19,072,623,769 |
Cost
of shares redeemed |
(9,058,374
) |
(16,174,846
) |
(1,131,108,021
) |
(1,385,764,462
) |
Total
change in net assets resulting from capital
transactions |
$326,912,854 |
$354,602,282 |
$2,635,302,872 |
$17,686,859,307 |
SHARE
TRANSACTIONS: |
|
|
|
|
Issued |
6,375,000 |
7,275,000 |
68,925,000 |
348,400,000 |
Redeemed |
(175,000
) |
(325,000
) |
(20,650,000
) |
(25,250,000
) |
Net
increase (decrease) in shares from share
transactions |
6,200,000 |
6,950,000 |
48,275,000 |
323,150,000 |
58
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
JPMorgan
Market Expansion
Enhanced
Equity ETF |
JPMorgan
Nasdaq Equity Premium Income ETF | ||
|
Six
Months Ended
December
31, 2023
(Unaudited) |
Year
Ended
June
30, 2023
|
Six
Months Ended
December
31, 2023
(Unaudited) |
Year
Ended
June
30, 2023
|
CHANGE
IN NET ASSETS RESULTING FROM
OPERATIONS: |
|
|
|
|
Net
investment income (loss) |
$6,004,116 |
$11,481,846 |
$322,235,786 |
$179,675,536 |
Net
realized gain (loss) |
13,561,352 |
50,220,869 |
(13,792,747
) |
(285,414,826
) |
Change
in net unrealized appreciation/depreciation |
54,700,119 |
69,920,834 |
307,419,501 |
538,805,544 |
Change
in net assets resulting from operations |
74,265,587 |
131,623,549 |
615,862,540 |
433,066,254 |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
|
|
Total
distributions to shareholders |
(11,920,279
) |
(52,218,514
) |
(352,833,017
) |
(149,409,334
) |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Change
in net assets resulting from capital transactions |
39,175,536 |
(58,838,049
) |
4,264,980,890 |
3,572,183,413 |
NET
ASSETS: |
|
|
|
|
Change
in net assets |
101,520,844 |
20,566,986 |
4,528,010,413 |
3,855,840,333 |
Beginning
of period |
854,560,372 |
833,993,386 |
3,956,996,062 |
101,155,729 |
End
of period |
$956,081,216 |
$854,560,372 |
$8,485,006,475 |
$3,956,996,062 |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Proceeds
from shares issued |
$52,741,960 |
$20,677,423 |
$5,368,245,142 |
$3,840,224,854 |
Cost
of shares redeemed |
(13,566,424
) |
(79,515,472
) |
(1,103,264,252
) |
(268,041,441
) |
Total
change in net assets resulting from capital
transactions |
$39,175,536 |
$(58,838,049
) |
$4,264,980,890 |
$3,572,183,413 |
SHARE
TRANSACTIONS: |
|
|
|
|
Issued |
1,050,000 |
425,000 |
110,575,000 |
85,625,000 |
Redeemed |
(275,000
) |
(1,575,000
) |
(22,525,000
) |
(5,975,000
) |
Net
increase (decrease) in shares from share
transactions |
775,000 |
(1,150,000
) |
88,050,000 |
79,650,000 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
59
|
|
JPMorgan
U.S.
Tech
Leaders
ETF |
|
Period
Ended
December
31, 2023 (Unaudited)(a) |
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
Net
investment income (loss) |
$(42,663
) |
Net
realized gain (loss) |
276,025 |
Change
in net unrealized appreciation/depreciation |
11,341,591 |
Change
in net assets resulting from operations |
11,574,953 |
CAPITAL
TRANSACTIONS: |
|
Change
in net assets resulting from capital transactions |
179,544,961 |
NET
ASSETS: |
|
Change
in net assets |
191,119,914 |
Beginning
of period |
— |
End
of period |
$191,119,914 |
CAPITAL
TRANSACTIONS: |
|
Proceeds
from shares issued |
$183,697,918 |
Cost
of shares redeemed |
(4,152,957
) |
Total
change in net assets resulting from capital
transactions |
$179,544,961 |
SHARE
TRANSACTIONS: |
|
Issued |
3,325,000 |
Redeemed |
(75,000
) |
Net
increase (decrease) in shares from share
transactions |
3,250,000 |
60
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
Per
share operating performance
| ||||||
|
|
Investment
operations |
Distributions
| ||||
|
Net
asset
value,
beginning
of
period
|
Net
investment
income
(loss)
(b) |
Net
realized
and
unrealized
gains
(losses)
on
investments
|
Total
from
investment
operations
|
Net
investment
income |
Net
realized
gain
|
Total
distributions
|
JPMorgan
Active Growth ETF |
|
|
|
|
|
|
|
Six
Months Ended December 31, 2023 (Unaudited) |
$55.72 |
$0.09 |
$5.35 |
$5.44 |
$(0.10
) |
$— |
$(0.10
) |
August
8, 2022 (f)
through June 30, 2023
|
49.95 |
0.19 |
5.65 |
5.84 |
(0.07
) |
— |
(0.07
) |
JPMorgan
Active Small Cap Value ETF |
|
|
|
|
|
|
|
Six
Months Ended December 31, 2023 (Unaudited) |
49.26 |
0.37 |
5.33 |
5.70 |
(0.59
) |
— |
(0.59
) |
March
7, 2023 (f)
through June 30, 2023
|
50.00 |
0.23 |
(0.97
) |
(0.74
) |
— |
— |
— |
JPMorgan
Active Value ETF |
|
|
|
|
|
|
|
Six
Months Ended December 31, 2023 (Unaudited) |
53.14 |
0.53 |
2.43 |
2.96 |
(0.52
) |
— |
(0.52
) |
Year
Ended June 30, 2023
|
47.81 |
0.98 |
5.09 |
6.07 |
(0.74
) |
— |
(0.74
) |
October
4, 2021 (f)
through June 30, 2022
|
49.50 |
0.63 |
(1.78
) |
(1.15
) |
(0.47
) |
(0.07
) |
(0.54
) |
JPMorgan
Equity Premium Income ETF |
|
|
|
|
|
|
|
Six
Months Ended December 31, 2023 (Unaudited) |
55.29 |
2.14 |
0.08 |
2.22 |
(2.53
) |
— |
(2.53
) |
Year
Ended June 30, 2023
|
55.45 |
5.84 |
0.04 |
5.88 |
(6.04
) |
— |
(6.04
) |
Year
Ended June 30, 2022
|
60.50 |
6.11 |
(6.20
) |
(0.09
) |
(4.96
) |
— |
(4.96
) |
Year
Ended June 30, 2021
|
50.76 |
5.17 |
9.42 |
14.59 |
(4.85
) |
— |
(4.85
) |
May
20, 2020 (f)
through June 30, 2020
|
50.00 |
0.63 |
0.13
(h) |
0.76 |
— |
— |
— |
JPMorgan
Market Expansion Enhanced Equity ETF(i) (j) |
|
|
|
|
|
|
|
Six
Months Ended December 31, 2023 (Unaudited) |
50.12 |
0.35 |
3.84 |
4.19 |
(0.67
) |
— |
(0.67
) |
Year
Ended June 30, 2023
|
45.83 |
0.67 |
6.67 |
7.34 |
(0.66
) |
(2.39
) |
(3.05
) |
Year
Ended June 30, 2022
|
62.87 |
0.70 |
(8.03
) |
(7.33
) |
(0.66
) |
(9.05
) |
(9.71
) |
Year
Ended June 30, 2021
|
41.41 |
0.63 |
23.22 |
23.85 |
(0.63
) |
(1.76
) |
(2.39
) |
Year
Ended June 30, 2020
|
48.77 |
0.63 |
(4.82
) |
(4.19
) |
(0.68
) |
(2.49
) |
(3.17
) |
Year
Ended June 30, 2019
|
57.67 |
0.63 |
(3.24
) |
(2.61
) |
(0.44
) |
(5.95
) |
(6.39
) |
JPMorgan
Nasdaq Equity Premium Income ETF |
|
|
|
|
|
|
|
Six
Months Ended December 31, 2023 (Unaudited) |
48.33 |
2.64 |
1.79 |
4.43 |
(2.83
) |
— |
(2.83
) |
Year
Ended June 30, 2023
|
45.46 |
6.04 |
2.47 |
8.51 |
(5.64
) |
— |
(5.64
) |
May
3, 2022 (f)
through June 30, 2022
|
50.00 |
1.11 |
(5.27
) |
(4.16
) |
(0.38
) |
— |
(0.38
) |
JPMorgan
U.S. Tech Leaders ETF |
|
|
|
|
|
|
|
October
4, 2023 (f)
through
December 31, 2023 (Unaudited) |
50.00 |
(0.04
) |
8.85 |
8.81 |
— |
— |
— |
| |
(a) |
Annualized
for periods less than one year, unless otherwise
noted. |
(b) |
Calculated
based upon average shares outstanding. |
(c) |
Not
annualized for periods less than one year. |
(d) |
Includes
adjustments in accordance with accounting principles generally accepted in
the United States of America and as such, the net asset values for
financial
reporting
purposes and the returns based upon those net asset values may differ from
the net asset values and returns for shareholder
transactions. |
(e) |
Market
price return was calculated assuming an initial investment made at the
market price at the beginning of the reporting period, reinvestment of all
dividends
and distributions at market price during the period, and sale at the
market price on the last day of the period. The closing price was used to
calculate
the
market price return. |
(f) |
Commencement
of operations. |
(g) |
Since
the shares of the Fund did not trade in the secondary market until the day
after the Fund’s inception, for the period from the inception to the first
day of
secondary
market trading, the net asset value is used as a proxy for the secondary
market trading price to calculate the market
returns. |
(h) |
Calculation
of the net realized and unrealized gains (losses) per share do not
correlate with the Fund’s net realized and unrealized gains (losses)
presented in the
Statement
of Operations due to the timing of capital transactions in relation to the
fluctuating market values of the Fund’s
investments. |
(i) |
Per
Share amounts reflect the conversion of the Predecessor Fund into the Fund
as of the close of business on May 6, 2022. See Note
1. |
(j) |
JPMorgan
Market Expansion Enhanced Equity ETF (the “Fund”) acquired all of the
assets and liabilities of the JPMorgan Market Expansion Enhanced Index
Fund
(“Predecessor
Fund”) in a reorganization that occurred as of the close of business on
May 6, 2022. Performance and financial history of the Predecessor Fund’s
Class
R6 Shares have been adopted by the Fund and will be used going forward. As
a result, the financial highlight information reflects that of the
Predecessor
Fund’s
Class R6 Shares for the period October 1, 2018 (“Predecessor Fund's Class
R6 Shares inception date”) up through the reorganization and the
Predecessor
Fund's
Class I Shares for the periods July 1, 2017 through June 30, 2018 and July
1, 2018 through June 30, 2019. |
(k) |
JPMorgan
Market Expansion Enhanced Equity ETF acquired all of the assets and
liabilities of the JPMorgan Market Expansion Enhanced Index Fund
(“Predecessor
Fund”)
in a reorganization on May 6, 2022. Market price returns are calculated
using the official closing price of the JPMorgan Market Expansion Enhanced
Equity
ETF
on the listing exchange as of the time that the JPMorgan Market Expansion
Enhanced Equity ETF's NAV is calculated. Prior to the JPMorgan Market
Expansion
Enhanced
Equity ETF's listing on May 9, 2022, the NAV performance of the Class R6
and the Class I Shares of the Predecessor Fund are used as proxy market
price
returns. |
62
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
Ratios/Supplemental
data
| |||||||
|
|
|
|
|
Ratios
to average net assets (a) |
| ||
Net
asset
value,
end
of
period
|
Market
price,
end
of
period
|
Total
return
(c)(d) |
Market
price
total
return
(c)(e) |
Net
assets,
end
of
period
|
Net
expenses |
Net
investment
income
(loss)
|
Expenses
without
waivers
and
reimbursements |
Portfolio
turnover
rate
(c) |
|
|
|
|
|
|
|
|
|
$61.06 |
$61.09 |
9.77
% |
9.78
% |
$862,410,523 |
0.43
% |
0.30
% |
0.43
% |
20
% |
55.72 |
55.74 |
11.73 |
11.77
(g) |
358,030,378 |
0.44 |
0.45 |
0.44 |
60 |
|
|
|
|
|
|
|
|
|
54.37 |
54.41 |
11.57 |
11.56 |
14,407,004 |
0.74 |
1.45 |
0.74 |
19 |
49.26 |
49.30 |
(1.48
) |
(1.40
)(g) |
10,836,656 |
0.74 |
1.57 |
0.74 |
13 |
|
|
|
|
|
|
|
|
|
55.58 |
55.62 |
5.59 |
5.64 |
782,345,993 |
0.44 |
2.00 |
0.44 |
46 |
53.14 |
53.15 |
12.79 |
13.04 |
418,442,628 |
0.44 |
1.91 |
0.44 |
80 |
47.81 |
47.71 |
(2.37
) |
(2.57
)(g) |
44,225,127 |
0.44 |
1.64 |
0.44 |
56 |
|
|
|
|
|
|
|
|
|
54.98 |
54.98 |
4.16 |
4.08 |
30,543,085,184 |
0.35 |
7.80 |
0.35 |
85 |
55.29 |
55.33 |
11.30 |
11.37 |
28,046,696,328 |
0.35 |
10.69 |
0.35 |
190 |
55.45 |
55.45 |
(0.49
) |
(0.62
) |
10,206,410,953 |
0.35 |
10.23 |
0.35 |
195 |
60.50 |
60.57 |
30.22 |
29.90 |
1,916,419,087 |
0.35 |
8.89 |
0.35 |
195 |
50.76 |
50.94 |
1.52 |
1.88
(g) |
27,916,586 |
0.35 |
11.11 |
0.35 |
13 |
|
|
|
|
|
|
|
|
|
53.64 |
53.71 |
8.36 |
8.41
(k) |
956,081,216 |
0.24 |
1.37 |
0.35 |
15 |
50.12 |
50.16 |
16.61 |
16.73
(k) |
854,560,372 |
0.24 |
1.38 |
0.24 |
29 |
45.83 |
45.82 |
(13.80
) |
(13.81
)(k) |
833,993,386 |
0.25 |
1.21 |
0.36 |
27 |
62.87 |
62.87 |
58.97 |
58.97
(k) |
766,008,977 |
0.25 |
1.18 |
0.35 |
35 |
41.41 |
41.41 |
(9.65
) |
(9.65
)(k) |
500,129,035 |
0.25 |
1.45 |
0.36 |
49 |
48.67 |
48.67 |
(3.56
) |
(3.56
)(k) |
264,414,719 |
0.34 |
1.14 |
0.61 |
36 |
|
|
|
|
|
|
|
|
|
49.93 |
49.93 |
9.54 |
9.45 |
8,485,006,475 |
0.35 |
10.87 |
0.35 |
86 |
48.33 |
48.37 |
20.81 |
20.11 |
3,956,996,062 |
0.35 |
13.49 |
0.35 |
162 |
45.46 |
45.76 |
(8.37
) |
(7.77
)(g) |
101,155,729 |
0.35 |
14.59 |
0.35 |
12 |
|
|
|
|
|
|
|
|
|
58.81 |
58.80 |
17.62 |
17.60
(g) |
191,119,914 |
0.65 |
(0.26
) |
0.65 |
8 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
63
|
|
Diversification
Classification |
JPMorgan
Active Growth ETF(1)
|
Non-diversified |
JPMorgan
Active Small Cap Value ETF(2)
|
Diversified |
JPMorgan
Active Value ETF |
Diversified |
JPMorgan
Equity Premium Income ETF |
Diversified |
JPMorgan
Market Expansion Enhanced Equity ETF |
Diversified |
JPMorgan
Nasdaq Equity Premium Income ETF |
Non-Diversified |
JPMorgan
U.S. Tech Leaders ETF(3)
|
Diversified |
| |
(1)
|
Commencement
of operations was August 8, 2022. |
(2)
|
Commencement
of operations was March 7, 2023. |
(3)
|
Commencement
of Operations was October 4,
2023. |
|
Listing
Exchange |
Active
Growth ETF |
NYSE
Arca, Inc. |
Active
Small Cap Value ETF |
NYSE
Arca, Inc. |
Active
Value ETF |
NYSE
Arca, Inc. |
Equity
Premium Income ETF |
NYSE
Arca, Inc. |
Market
Expansion Enhanced Equity ETF |
NYSE
Arca, Inc. |
Nasdaq
Equity Premium Income ETF |
The
NASDAQ Stock Market LLC |
U.S.
Tech Leaders ETF |
The
NASDAQ Stock Market LLC |
64
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
Active
Growth ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Total
Investments in Securities (a) |
$862,555,452 |
$— |
$— |
$862,555,452 |
| |
(a) |
Please
refer to the SOI for specifics of portfolio
holdings. |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
65
|
Active
Small Cap Value ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Total
Investments in Securities (a) |
$14,438,824 |
$— |
$— |
$14,438,824 |
| |
(a) |
Please
refer to the SOI for specifics of portfolio
holdings. |
Active
Value ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Total
Investments in Securities (a) |
$781,487,334 |
$— |
$— |
$781,487,334 |
| |
(a) |
Please
refer to the SOI for specifics of portfolio
holdings. |
Equity
Premium Income ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
$25,969,533,581 |
$— |
$— |
$25,969,533,581
|
Equity
Linked Notes |
— |
4,166,768,851 |
— |
4,166,768,851 |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
8,580,135 |
— |
— |
8,580,135 |
Investment
of Cash Collateral from Securities
Loaned |
172,559,627 |
— |
— |
172,559,627 |
Total
Short-Term Investments |
181,139,762 |
— |
— |
181,139,762 |
Total
Investments in Securities |
$26,150,673,343 |
$4,166,768,851 |
$— |
$30,317,442,194 |
Market
Expansion Enhanced Equity ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Total
Investments in Securities (a) |
$1,017,531,673 |
$— |
$— |
$1,017,531,673 |
Appreciation
in Other Financial Instruments |
|
|
|
|
Futures
Contracts (a) |
$883,709 |
$— |
$— |
$883,709 |
| |
(a) |
Please
refer to the SOI for specifics of portfolio
holdings. |
Nasdaq
Equity Premium Income ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
$7,053,041,956 |
$— |
$— |
$7,053,041,956 |
Equity
Linked Notes |
— |
1,332,934,171 |
— |
1,332,934,171 |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
44,936,965 |
— |
— |
44,936,965 |
Total
Investments in Securities |
$7,097,978,921 |
$1,332,934,171 |
$— |
$8,430,913,092 |
66
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
U.S.
Tech Leaders ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Total
Investments in Securities (a) |
$191,169,486 |
$— |
$— |
$191,169,486 |
| |
(a) |
Please
refer to the SOI for specifics of portfolio
holdings. |
|
Investment
Securities
on
Loan, at value,
Presented
on the
Statements
of Assets
and
Liabilities |
Cash
Collateral
Posted
by Borrower* |
Net
Amount Due
to
Counterparty
(not
less than zero) |
Active
Small Cap Value ETF |
$38,265 |
$(38,265
) |
$— |
Equity
Premium Income ETF |
169,175,386 |
(169,175,386
) |
— |
Market
Expansion Enhanced Equity ETF |
60,173,842 |
(60,173,842
) |
— |
| |
* |
Collateral
posted reflects the value of securities on loan and does not include any
additional amounts received from the
borrower. |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
67
|
Active
Small Cap Value ETF |
$4 |
Active
Value ETF |
81 |
Equity
Premium Income ETF |
14,723 |
Market
Expansion Enhanced Equity ETF |
3,206 |
Nasdaq
Equity Premium Income ETF |
1 |
Active
Growth ETF | |||||||||
For
the six months ended December 31, 2023 | |||||||||
Security
Description |
Value
at
June
30,
2023 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
December
31,
2023 |
Shares
at
December
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
U.S. Government Money
Market
Fund Class IM Shares,
5.30%
(a)
(b) |
$6,933,264 |
$33,658,726 |
$22,832,350 |
$— |
$— |
$17,759,640 |
17,759,640 |
$440,843 |
$— |
| |
(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 December 31,
2023. |
Active
Small Cap Value ETF | |||||||||
For
the six months ended December 31, 2023 | |||||||||
Security
Description |
Value
at
June
30,
2023 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
December
31,
2023 |
Shares
at
December
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund
Class
IM Shares, 5.51% (a)
(b) |
$— |
$— |
$— |
$— |
$— |
$— |
— |
$26 |
$— |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (a)
(b) |
— |
56,340 |
17,570 |
— |
— |
38,770 |
38,770 |
500
* |
— |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (a)
(b) |
278,027 |
1,439,227 |
1,181,754 |
— |
— |
535,500 |
535,500 |
9,628 |
— |
Total |
$278,027 |
$1,495,567 |
$1,199,324 |
$— |
$— |
$574,270 |
|
$10,154 |
$— |
| |
(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 December 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
68
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
Active
Value ETF | |||||||||
For
the six months ended December 31, 2023 | |||||||||
Security
Description |
Value
at
June
30,
2023 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
December
31,
2023 |
Shares
at
December
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market
Fund
Class IM Shares, 5.51%
(a)
(b) |
$— |
$— |
$— |
$— |
$— |
$— |
— |
$213 |
$— |
JPMorgan
U.S. Government Money
Market
Fund Class IM Shares,
5.30%
(a)
(b) |
252,180 |
1,345,118 |
1,597,298 |
— |
— |
— |
— |
3,701
* |
— |
JPMorgan
U.S. Government Money
Market
Fund Class IM Shares,
5.30%
(a)
(b) |
12,221,401 |
18,639,848 |
8,984,221 |
— |
— |
21,877,028 |
21,877,028 |
501,303 |
— |
Total |
$12,473,581 |
$19,984,966 |
$10,581,519 |
$— |
$— |
$21,877,028 |
|
$505,217 |
$— |
| |
(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 December 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
Equity
Premium Income ETF | |||||||||
For
the six months ended December 31, 2023 | |||||||||
Security
Description |
Value
at
June
30,
2023 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
December
31,
2023 |
Shares
at
December
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime
Money
Market
Fund
Class IM
Shares,
5.51%
(a)
(b) |
$— |
$— |
$— |
$— |
$— |
$— |
— |
$1,177 |
$— |
JPMorgan
Securities
Lending
Money
Market
Fund
Agency
SL
Class
Shares,
5.56%
(a)
(b) |
334,966,807 |
758,999,999 |
940,000,000 |
106,973
* |
21,203 |
154,094,982 |
154,033,369 |
10,078,501
* |
— |
JPMorgan
U.S.
Government
Money
Market
Fund
Class IM
Shares,
5.30%
(a)
(b) |
47,208,090 |
350,989,669 |
379,733,114 |
— |
— |
18,464,645 |
18,464,645 |
1,157,595
* |
— |
JPMorgan
U.S.
Government
Money
Market
Fund
Class IM
Shares,
5.30%
(a)
(b) |
224,743,189 |
2,805,189,420 |
3,021,352,474 |
— |
— |
8,580,135 |
8,580,135 |
6,999,707 |
— |
Total |
$606,918,086 |
$3,915,179,088 |
$4,341,085,588 |
$106,973 |
$21,203 |
$181,139,762 |
|
$18,236,980 |
$— |
| |
(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 December 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
69
|
Market
Expansion Enhanced Equity ETF | |||||||||
For
the six months ended December 31, 2023 | |||||||||
Security
Description |
Value
at
June
30,
2023 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
December
31,
2023 |
Shares
at
December
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market
Fund
Class IM Shares,
5.51%
(a)
(b) |
$— |
$— |
$— |
$— |
$— |
$— |
— |
$448 |
$— |
JPMorgan
Securities Lending
Money
Market Fund Agency
SL
Class Shares, 5.56%
(a)
(b) |
17,998,200 |
140,000,001 |
103,000,000 |
5,798
* |
5,999 |
55,009,998 |
54,988,003 |
1,044,128
* |
— |
JPMorgan
U.S. Government
Money
Market Fund Class IM
Shares,
5.30% (a)
(b) |
5,817,078 |
66,942,929 |
65,296,040 |
— |
— |
7,463,967 |
7,463,967 |
154,635
* |
— |
JPMorgan
U.S. Government
Money
Market Fund Class IM
Shares,
5.30% (a)
(b) |
19,564,496 |
63,147,861 |
65,442,741 |
— |
— |
17,269,616 |
17,269,616 |
448,307 |
— |
Total |
$43,379,774 |
$270,090,791 |
$233,738,781 |
$5,798 |
$5,999 |
$79,743,581 |
|
$1,647,518 |
$— |
| |
(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 December 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
Nasdaq
Equity Premium Income ETF | |||||||||
For
the six months ended December 31, 2023 | |||||||||
Security
Description |
Value
at
June
30,
2023 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
December
31,
2023 |
Shares
at
December
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money
Market
Fund Class IM
Shares,
5.51% (a)
(b) |
$— |
$— |
$— |
$— |
$— |
$— |
— |
$3,767 |
$— |
JPMorgan
U.S. Government
Money
Market Fund
Class
IM Shares, 5.30%
(a)
(b) |
— |
22,900 |
22,900 |
— |
— |
— |
— |
3
* |
— |
JPMorgan
U.S. Government
Money
Market Fund
Class
IM Shares, 5.30%
(a)
(b) |
49,625,385 |
1,215,222,399 |
1,219,910,819 |
— |
— |
44,936,965 |
44,936,965 |
1,648,598 |
— |
Total |
$49,625,385 |
$1,215,245,299 |
$1,219,933,719 |
$— |
$— |
$44,936,965 |
|
$1,652,368 |
$— |
| |
(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 December 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
70
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
U.S.
Tech Leaders ETF | |||||||||
For
the period ended December 31, 2023 | |||||||||
Security
Description |
Value
at
October
4,
2023(a) |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
December
31,
2023 |
Shares
at
December
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund
Class
IM Shares, 5.51% (b)
(c) |
$— |
$— |
$— |
$— |
$— |
$— |
— |
$17 |
$— |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (b)
(c) |
— |
542,025 |
542,025 |
— |
— |
— |
— |
62
* |
— |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.30% (b)
(c) |
— |
10,840,765 |
8,506,016 |
— |
— |
2,334,749 |
2,334,749 |
10,548 |
— |
Total |
$— |
$11,382,790 |
$9,048,041 |
$— |
$— |
$2,334,749 |
|
$10,627 |
$— |
| |
(a) |
Commencement
of operations was October 4, 2023. |
(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 December 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
|
Equity
Premium
Income
ETF
|
Market
Expansion
Enhanced
Equity
ETF
|
Nasdaq
Equity Premium Income ETF
|
Futures
Contracts: |
|
|
|
Average
Notional Balance Long |
$37,580,357 |
$14,370,822 |
$— |
Average
Notional Balance Short |
(2,418,482
) |
— |
(68,447,985
) |
Ending
Notional Balance Long |
— |
14,334,750 |
— |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
71
|
|
|
Active
Growth ETF |
0.44
% |
Active
Small Cap Value ETF |
0.74 |
Active
Value ETF |
0.44 |
Equity
Premium Income ETF |
0.35 |
Market
Expansion Enhanced Equity ETF |
0.25 |
Nasdaq
Equity Premium Income ETF |
0.35 |
U.S.
Tech Leaders ETF |
0.65 |
72
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
|
|
Contractual
Reimbursements |
Market
Expansion Enhanced Equity ETF |
$461,954 |
|
|
Market
Expansion Enhanced Equity ETF |
$10,305 |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
73
|
|
|
Market
Expansion Enhanced Equity ETF |
$841 |
|
Brokerage
Commissions |
Active
Growth ETF |
$1,420 |
Market
Expansion Enhanced Equity ETF |
214 |
|
Purchases
(excluding
U.S.
Government) |
Sales
(excluding
U.S.
Government) |
Active
Growth ETF |
$111,239,959 |
$109,274,158 |
Active
Small Cap Value ETF |
2,093,871 |
2,320,360 |
Active
Value ETF |
265,243,235 |
263,383,698 |
Equity
Premium Income ETF |
25,104,084,495 |
24,528,640,034 |
Market
Expansion Enhanced Equity ETF |
129,134,567 |
127,560,314 |
Nasdaq
Equity Premium Income ETF |
6,034,643,859 |
5,102,938,677 |
U.S.
Tech Leaders ETF |
12,013,725 |
6,397,817 |
|
In-Kind
Purchases |
In-Kind
Sales |
Active
Growth ETF |
$429,774,007 |
$9,423,935 |
Active
Small Cap Value ETF |
2,335,859 |
— |
Active
Value ETF |
323,501,675 |
8,733,067 |
Equity
Premium Income ETF |
2,934,040,795 |
962,985,797 |
Market
Expansion Enhanced Equity ETF |
51,217,500 |
13,340,157 |
Nasdaq
Equity Premium Income ETF |
4,343,279,961 |
1,050,786,349 |
U.S.
Tech Leaders ETF |
175,720,423 |
4,119,210 |
74
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
|
Aggregate
Cost |
Gross
Unrealized
Appreciation |
Gross
Unrealized
Depreciation |
Net
Unrealized
Appreciation
(Depreciation) |
Active
Growth ETF |
$728,169,310 |
$135,060,661 |
$674,519 |
$134,386,142 |
Active
Small Cap Value ETF |
13,387,203 |
1,340,464 |
288,843 |
1,051,621 |
Active
Value ETF |
717,680,022 |
72,360,705 |
8,553,393 |
63,807,312 |
Equity
Premium Income ETF |
27,264,924,124 |
3,586,580,504 |
534,062,434 |
3,052,518,070 |
Market
Expansion Enhanced Equity ETF |
733,080,475 |
314,961,232 |
29,626,325 |
285,334,907 |
Nasdaq
Equity Premium Income ETF |
7,589,327,059 |
924,013,434 |
82,427,401 |
841,586,033 |
U.S.
Tech Leaders ETF |
179,827,895 |
12,170,394 |
828,803 |
11,341,591 |
|
Capital
Loss Carryforward Character
| |
|
Short-Term |
Long-Term |
Active
Growth ETF |
$259,031 |
$— |
Active
Small Cap Value ETF |
22,846 |
— |
Active
Value ETF |
2,033,118 |
42,420 |
Equity
Premium Income ETF |
1,010,524,741 |
164,353,537 |
Nasdaq
Equity Premium Income ETF |
19,918,405 |
— |
|
Net
Capital Losses (Gains) |
Specified
Ordinary
Losses | |
|
Short-Term |
Long-Term | |
Active
Growth ETF |
$10,376,110 |
$— |
$3,149 |
Active
Value ETF |
(72,597
) |
225,065 |
— |
Equity
Premium Income ETF |
1,068,373,987 |
157,403,926 |
— |
Market
Expansion Enhanced Equity ETF |
7,063,101 |
(2,363,848
) |
— |
Nasdaq
Equity Premium Income ETF |
295,998,408 |
150,981 |
— |
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
75
|
|
%
of Ownership |
Active
Small Cap Value ETF |
75
% |
76
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
77
|
|
Beginning
Account
Value
July
1, 2023 |
Ending
Account
Value
December
31, 2023 |
Expenses
Paid
During
the
Period |
Annualized
Expense
Ratio |
JPMorgan
Active Growth ETF |
|
|
|
|
Actual * |
$1,000.00 |
$1,097.70 |
$2.27 |
0.43
% |
Hypothetical * |
1,000.00 |
1,023.04 |
2.19 |
0.43 |
JPMorgan
Active Small Cap Value ETF |
|
|
|
|
Actual * |
1,000.00 |
1,115.70 |
3.94 |
0.74 |
Hypothetical * |
1,000.00 |
1,021.47 |
3.76 |
0.74 |
JPMorgan
Active Value ETF |
|
|
|
|
Actual * |
1,000.00 |
1,055.90 |
2.27 |
0.44 |
Hypothetical * |
1,000.00 |
1,022.99 |
2.24 |
0.44 |
JPMorgan
Equity Premium Income ETF |
|
|
|
|
Actual * |
1,000.00 |
1,041.60 |
1.80 |
0.35 |
Hypothetical * |
1,000.00 |
1,023.44 |
1.78 |
0.35 |
JPMorgan
Market Expansion Enhanced Equity ETF |
|
|
|
|
Actual * |
1,000.00 |
1,083.60 |
1.26 |
0.24 |
Hypothetical * |
1,000.00 |
1,023.93 |
1.22 |
0.24 |
JPMorgan
Nasdaq Equity Premium Income ETF |
|
|
|
|
Actual * |
1,000.00 |
1,095.40 |
1.84 |
0.35 |
Hypothetical * |
1,000.00 |
1,023.44 |
1.78 |
0.35 |
JPMorgan
U.S. Tech Leaders ETF |
|
|
|
|
Actual ** |
1,000.00 |
1,176.20 |
1.70 |
0.65 |
Hypothetical * |
1,000.00 |
1,021.93 |
3.30 |
0.65 |
| |
* |
Expenses
are equal to each Fund's annualized net expense ratio, multiplied by the
average account value over the period, multiplied by
184/366
(to reflect the one-half year period). |
** |
Expenses
are equal to the Fund’s annualized net expense ratio, multiplied by the
average account value over the period, multiplied by 88/366
(to
reflect the actual period). The Fund commenced operations on October 4,
2023. |
78
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
79
|
80
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
81
|
82
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
83
|
84
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
85
|
86
|
J.P.
Morgan Exchange-Traded Funds
|
December
31, 2023
|
December
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
87
|