JPMorgan ActiveBuilders International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited)
Investments | Shares | Value ($) | ||||||
COMMON STOCKS — 99.0% |
| |||||||
Australia — 4.8% |
| |||||||
Australia & New Zealand Banking Group Ltd. | 5,036 | 102,526 | ||||||
BHP Group Ltd. | 10,274 | 403,551 | ||||||
Commonwealth Bank of Australia | 683 | 50,069 | ||||||
CSL Ltd. | 590 | 125,606 | ||||||
Fortescue Metals Group Ltd. | 2,076 | 37,934 | ||||||
Goodman Group, REIT | 1,753 | 29,156 | ||||||
IDP Education Ltd. | 2,238 | 46,374 | ||||||
Macquarie Group Ltd. | 175 | 20,207 | ||||||
National Australia Bank Ltd. | 4,658 | 88,827 | ||||||
Rio Tinto Ltd. | 844 | 82,720 | ||||||
Rio Tinto plc | 2,912 | 247,346 | ||||||
South32 Ltd. | 7,211 | 15,801 | ||||||
Wesfarmers Ltd. | 574 | 25,880 | ||||||
Westpac Banking Corp. | 6,127 | 110,056 | ||||||
Woolworths Group Ltd. | 659 | 18,852 | ||||||
|
| |||||||
1,404,905 | ||||||||
|
| |||||||
Austria — 0.7% |
| |||||||
BAWAG Group AG(a) | 354 | 20,111 | ||||||
Erste Group Bank AG | 2,756 | 106,797 | ||||||
OMV AG | 730 | 39,416 | ||||||
Raiffeisen Bank International AG | 866 | 20,476 | ||||||
Wienerberger AG | 376 | 15,369 | ||||||
|
| |||||||
202,169 | ||||||||
|
| |||||||
Belgium — 0.9% |
| |||||||
Ageas SA | 379 | 20,013 | ||||||
Anheuser-Busch InBev SA | 199 | 12,559 | ||||||
Bekaert SA | 438 | 20,802 | ||||||
bpost SA* | 1,349 | 15,149 | ||||||
KBC Group NV | 2,272 | 182,948 | ||||||
|
| |||||||
251,471 | ||||||||
|
| |||||||
Canada — 0.4% |
| |||||||
Canadian National Railway Co. | 440 | 47,809 | ||||||
Toronto-Dominion Bank (The) | 966 | 64,227 | ||||||
|
| |||||||
112,036 | ||||||||
|
| |||||||
China — 1.7% |
| |||||||
Alibaba Group Holding Ltd., ADR* | 636 | 124,141 | ||||||
Bilibili, Inc., ADR* | 672 | 57,510 | ||||||
BOC Hong Kong Holdings Ltd. | 9,500 | 30,507 | ||||||
Budweiser Brewing Co. APAC Ltd.(a) | 13,900 | 38,792 | ||||||
Prosus NV* | 791 | 70,572 | ||||||
Tencent Holdings Ltd., ADR | 2,270 | 138,924 | ||||||
TI Fluid Systems plc(a) | 4,876 | 21,000 | ||||||
Yangzijiang Shipbuilding Holdings Ltd. | 23,300 | 23,578 | ||||||
|
| |||||||
505,024 | ||||||||
|
| |||||||
Denmark — 3.5% |
| |||||||
AP Moller - Maersk A/S, Class B | 6 | 16,651 | ||||||
Carlsberg A/S, Class B | 726 | 134,154 | ||||||
Genmab A/S* | 236 | 106,667 | ||||||
Matas A/S | 944 | 16,830 | ||||||
Novo Nordisk A/S, Class B | 5,527 | 511,642 | ||||||
Orsted A/S(a) | 1,343 | 199,194 | ||||||
Solar A/S, Class B | 169 | 16,435 | ||||||
Spar Nord Bank A/S | 1,807 | 21,727 | ||||||
|
| |||||||
1,023,300 | ||||||||
|
| |||||||
Finland — 1.0% |
| |||||||
Caverion OYJ | 1,648 | 14,299 | ||||||
Elisa OYJ | 296 | 19,024 | ||||||
Kone OYJ, Class B | 2,220 | 183,875 | ||||||
Nordea Bank Abp | 5,087 | 59,571 | ||||||
Valmet OYJ | 349 | 14,565 | ||||||
|
| |||||||
291,334 | ||||||||
|
| |||||||
France — 11.0% |
| |||||||
Accor SA* | 595 | 21,057 | ||||||
Air Liquide SA | 440 | 76,520 | ||||||
Airbus SE* | 277 | 37,996 | ||||||
Alstom SA* | 613 | 25,425 | ||||||
Arkema SA | 191 | 24,311 | ||||||
AXA SA | 5,352 | 138,601 | ||||||
BNP Paribas SA | 3,396 | 207,085 | ||||||
Capgemini SE | 1,271 | 274,730 | ||||||
Carrefour SA | 731 | 13,578 | ||||||
Cie de Saint-Gobain | 745 | 53,251 | ||||||
CNP Assurances | 1,186 | 20,160 | ||||||
Credit Agricole SA | 2,159 | 30,104 | ||||||
Dassault Systemes SE | 139 | 7,668 | ||||||
EssilorLuxottica SA | 94 | 17,746 | ||||||
Fnac Darty SA | 319 | 22,142 | ||||||
Gecina SA, REIT | 160 | 25,375 | ||||||
IPSOS | 349 | 16,214 | ||||||
Kering SA | 175 | 156,999 | ||||||
L’Oreal SA | 782 | 357,760 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 750 | 600,501 | ||||||
Metropole Television SA | 834 | 16,700 | ||||||
Pernod Ricard SA | 413 | 91,152 | ||||||
Publicis Groupe SA | 474 | 29,924 | ||||||
Quadient SA | 503 | 14,762 | ||||||
Renault SA* | 286 | 10,862 | ||||||
Rothschild & Co. | 526 | 19,686 | ||||||
Safran SA | 1,300 | 170,137 | ||||||
Sanofi | 580 | 59,783 | ||||||
Societe Generale SA | 1,979 | 57,956 | ||||||
Sopra Steria Group SACA | 64 | 12,722 | ||||||
Technip Energies NV* | 1,471 | 19,936 | ||||||
Thales SA | 179 | 18,787 | ||||||
TotalEnergies SE | 6,809 | 296,918 | ||||||
Veolia Environnement SA | 2,128 | 69,793 | ||||||
Vinci SA | 1,626 | 172,152 | ||||||
|
| |||||||
3,188,493 | ||||||||
|
|
JPMorgan ActiveBuilders International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Investments | Shares | Value ($) | ||||||
Germany — 8.5% |
| |||||||
adidas AG | 780 | 283,104 | ||||||
Allianz SE (Registered) | 1,410 | 350,474 | ||||||
Aurubis AG | 150 | 15,191 | ||||||
BASF SE | 560 | 44,004 | ||||||
Bayer AG (Registered) | 541 | 32,232 | ||||||
Bayerische Motoren Werke AG | 431 | 42,855 | ||||||
Continental AG* | 128 | 17,388 | ||||||
Covestro AG(a) | 408 | 26,284 | ||||||
Daimler AG (Registered) | 1,330 | 118,689 | ||||||
Deutsche Boerse AG | 324 | 54,064 | ||||||
Deutsche Post AG (Registered) | 2,723 | 184,541 | ||||||
Deutsche Telekom AG (Registered) | 5,184 | 107,590 | ||||||
HeidelbergCement AG | 299 | 26,497 | ||||||
Hornbach Holding AG & Co. KGaA | 179 | 20,112 | ||||||
Infineon Technologies AG | 1,752 | 66,951 | ||||||
JOST Werke AG(a) | 241 | 14,723 | ||||||
Kloeckner & Co. SE* | 1,336 | 20,324 | ||||||
Merck KGaA | 212 | 43,397 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | 517 | 139,499 | ||||||
RWE AG | 2,395 | 85,156 | ||||||
SAP SE | 582 | 83,524 | ||||||
Sartorius AG (Preference) | 80 | 48,393 | ||||||
Siemens AG (Registered) | 1,354 | 211,269 | ||||||
Symrise AG | 691 | 101,887 | ||||||
Volkswagen AG (Preference) | 976 | 237,725 | ||||||
Vonovia SE | 532 | 35,420 | ||||||
Zalando SE*(a) | 539 | 59,890 | ||||||
|
| |||||||
2,471,183 | ||||||||
|
| |||||||
Hong Kong — 2.5% |
| |||||||
AIA Group Ltd. | 30,800 | 368,546 | ||||||
Haitong International Securities Group Ltd. | 62,000 | 15,978 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 4,200 | 268,421 | ||||||
Hongkong Land Holdings Ltd. | 5,300 | 24,046 | ||||||
Hysan Development Co. Ltd. | 4,000 | 15,751 | ||||||
Sun Hung Kai Properties Ltd. | 2,500 | 35,763 | ||||||
|
| |||||||
728,505 | ||||||||
|
| |||||||
India — 0.6% |
| |||||||
HDFC Bank Ltd., ADR | 2,441 | 172,261 | ||||||
|
| |||||||
Indonesia — 0.1% |
| |||||||
Bank Central Asia Tbk. PT | 18,100 | 37,365 | ||||||
|
| |||||||
Ireland — 0.4% |
| |||||||
CRH plc | 995 | 49,729 | ||||||
Kingspan Group plc | 473 | 51,436 | ||||||
Ryanair Holdings plc, ADR* | 175 | 19,082 | ||||||
|
| |||||||
120,247 | ||||||||
|
| |||||||
Italy — 1.2% |
| |||||||
Assicurazioni Generali SpA | 1,536 | 30,625 | ||||||
Azimut Holding SpA | 652 | 16,772 | ||||||
Enel SpA | 4,676 | 43,092 | ||||||
Eni SpA | 3,757 | 44,429 | ||||||
FinecoBank Banca Fineco SpA* | 3,139 | 56,208 | ||||||
Intesa Sanpaolo SpA | 23,617 | 65,243 | ||||||
Mediobanca Banca di Credito Finanziario SpA* | 1,157 | 13,542 | ||||||
Snam SpA | 2,216 | 13,404 | ||||||
Telecom Italia SpA | 23,668 | 10,365 | ||||||
UniCredit SpA | 3,756 | 44,927 | ||||||
Unipol Gruppo SpA | 4,001 | 21,263 | ||||||
|
| |||||||
359,870 | ||||||||
|
| |||||||
Japan — 19.9% |
| |||||||
AGC, Inc. | 400 | 17,105 | ||||||
Ajinomoto Co., Inc. | 700 | 17,834 | ||||||
Asahi Group Holdings Ltd. | 1,000 | 44,995 | ||||||
Asahi Kasei Corp. | 3,100 | 33,805 | ||||||
Bridgestone Corp. | 1,300 | 57,271 | ||||||
Brother Industries Ltd. | 800 | 16,281 | ||||||
Central Japan Railway Co. | 200 | 29,093 | ||||||
Cosmo Energy Holdings Co. Ltd. | 800 | 18,606 | ||||||
Credit Saison Co. Ltd. | 1,900 | 22,663 | ||||||
Dai-ichi Life Holdings, Inc. | 2,300 | 42,332 | ||||||
Daiichi Sankyo Co. Ltd. | 1,100 | 21,785 | ||||||
Daikin Industries Ltd. | 1,000 | 208,833 | ||||||
Daiwa House Industry Co. Ltd. | 700 | 21,462 | ||||||
Denso Corp. | 400 | 27,481 | ||||||
Dentsu Group, Inc. | 600 | 20,852 | ||||||
ENEOS Holdings, Inc. | 9,400 | 39,486 | ||||||
FANUC Corp. | 400 | 89,587 | ||||||
Fujitsu Ltd. | 100 | 17,013 | ||||||
Fuyo General Lease Co. Ltd. | 400 | 26,136 | ||||||
Hitachi Ltd. | 2,000 | 115,038 | ||||||
Honda Motor Co. Ltd. | 3,400 | 109,201 | ||||||
Hoya Corp. | 1,800 | 254,105 | ||||||
Isuzu Motors Ltd. | 4,400 | 58,695 | ||||||
ITOCHU Corp. | 2,400 | 71,038 | ||||||
Japan Airlines Co. Ltd.* | 600 | 12,508 | ||||||
Japan Exchange Group, Inc. | 600 | 13,647 | ||||||
Japan Post Holdings Co. Ltd.* | 2,500 | 21,221 | ||||||
Kao Corp. | 600 | 36,127 | ||||||
KDDI Corp. | 3,000 | 91,751 | ||||||
Keyence Corp. | 700 | 389,902 | ||||||
Konami Holdings Corp. | 400 | 22,154 | ||||||
Kubota Corp. | 3,700 | 77,372 | ||||||
Kyocera Corp. | 200 | 12,358 | ||||||
Kyowa Kirin Co. Ltd. | 4,000 | 130,205 | ||||||
M3, Inc. | 200 | 13,081 | ||||||
Makita Corp. | 2,000 | 103,998 | ||||||
MISUMI Group, Inc. | 400 | 13,942 | ||||||
Mitsubishi Chemical Holdings Corp. | 4,000 | 33,564 | ||||||
Mitsubishi Corp. | 3,200 | 89,756 | ||||||
Mitsubishi Electric Corp. | 1,400 | 18,994 |
JPMorgan ActiveBuilders International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Investments | Shares | Value ($) | ||||||
Mitsubishi UFJ Financial Group, Inc. | 25,100 | 132,595 | ||||||
Mitsui & Co. Ltd. | 2,900 | 66,562 | ||||||
Mitsui Fudosan Co. Ltd. | 1,300 | 30,403 | ||||||
Mizuho Financial Group, Inc. | 4,400 | 62,874 | ||||||
MS&AD Insurance Group Holdings, Inc. | 1,000 | 30,911 | ||||||
Murata Manufacturing Co. Ltd. | 600 | 49,791 | ||||||
Nidec Corp. | 800 | 89,795 | ||||||
Nintendo Co. Ltd. | 100 | 51,410 | ||||||
Nippon Express Co. Ltd. | 200 | 14,610 | ||||||
Nippon Steel Corp. | 1,000 | 17,347 | ||||||
Nippon Telegraph & Telephone Corp. | 4,000 | 102,433 | ||||||
Nitori Holdings Co. Ltd. | 100 | 19,008 | ||||||
Nomura Holdings, Inc. | 6,500 | 32,549 | ||||||
Nomura Real Estate Holdings, Inc. | 1,000 | 24,796 | ||||||
Nomura Research Institute Ltd. | 600 | 19,308 | ||||||
Ono Pharmaceutical Co. Ltd. | 1,000 | 22,828 | ||||||
ORIX Corp. | 4,300 | 75,230 | ||||||
Otsuka Corp. | 500 | 25,980 | ||||||
Recruit Holdings Co. Ltd. | 2,500 | 129,577 | ||||||
Resona Holdings, Inc. | 4,700 | 17,647 | ||||||
Rohm Co. Ltd. | 100 | 9,756 | ||||||
Ryohin Keikaku Co. Ltd. | 1,100 | 22,315 | ||||||
SBI Holdings, Inc. | 800 | 19,150 | ||||||
Sekisui House Ltd. | 1,800 | 35,650 | ||||||
Seven & i Holdings Co. Ltd. | 1,000 | 44,620 | ||||||
Shimadzu Corp. | 500 | 20,165 | ||||||
Shimano, Inc. | 400 | 102,392 | ||||||
Shin-Etsu Chemical Co. Ltd. | 700 | 114,191 | ||||||
Shionogi & Co. Ltd. | 200 | 10,533 | ||||||
SMC Corp. | 400 | 237,790 | ||||||
SoftBank Corp. | 4,900 | 64,000 | ||||||
SoftBank Group Corp. | 800 | 50,309 | ||||||
Sojitz Corp. | 7,600 | 23,251 | ||||||
Sompo Holdings, Inc. | 500 | 20,671 | ||||||
Sony Group Corp. | 3,800 | 396,973 | ||||||
Sumitomo Corp. | 1,900 | 25,821 | ||||||
Sumitomo Electric Industries Ltd. | 1,300 | 18,469 | ||||||
Sumitomo Metal Mining Co. Ltd. | 600 | 24,316 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 3,400 | 114,611 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 1,200 | 39,391 | ||||||
Suzuki Motor Corp. | 500 | 20,343 | ||||||
Sysmex Corp. | 1,100 | 130,890 | ||||||
T&D Holdings, Inc. | 3,500 | 44,782 | ||||||
Takeda Pharmaceutical Co. Ltd. | 1,000 | 33,287 | ||||||
Terumo Corp. | 500 | 19,405 | ||||||
Tokio Marine Holdings, Inc. | 1,000 | 47,661 | ||||||
Tokyo Electron Ltd. | 500 | 206,213 | ||||||
Toyota Motor Corp. | 4,000 | 359,102 | ||||||
Toyota Tsusho Corp. | 500 | 23,607 | ||||||
|
| |||||||
5,756,595 | ||||||||
|
| |||||||
Luxembourg — 0.1% |
| |||||||
ArcelorMittal SA | 846 | 29,547 | ||||||
|
| |||||||
Macau — 0.1% |
| |||||||
Sands China Ltd.* | 8,000 | 27,248 | ||||||
|
| |||||||
Malta — 0.1% |
| |||||||
Kindred Group plc, SDR | 1,086 | 17,776 | ||||||
|
| |||||||
Netherlands — 6.1% |
| |||||||
Adyen NV*(a) | 70 | 189,704 | ||||||
Aegon NV | 5,531 | 23,549 | ||||||
Akzo Nobel NV | 488 | 60,281 | ||||||
Argenx SE* | 130 | 39,334 | ||||||
Argenx SE* | 26 | 7,940 | ||||||
ASM International NV | 44 | 15,616 | ||||||
ASML Holding NV | 1,026 | 784,259 | ||||||
ING Groep NV | 12,889 | 165,375 | ||||||
Koninklijke Ahold Delhaize NV | 3,036 | 94,374 | ||||||
Koninklijke DSM NV | 134 | 27,012 | ||||||
Koninklijke KPN NV | 9,709 | 31,859 | ||||||
Koninklijke Philips NV | 388 | 17,890 | ||||||
NN Group NV | 1,589 | 78,999 | ||||||
PostNL NV | 2,684 | 14,525 | ||||||
Randstad NV | 541 | 39,250 | ||||||
Royal Dutch Shell plc, Class B | 4,150 | 82,001 | ||||||
Signify NV(a) | 455 | 25,488 | ||||||
Wolters Kluwer NV | 620 | 70,682 | ||||||
|
| |||||||
1,768,138 | ||||||||
|
| |||||||
Norway — 0.5% |
| |||||||
Bank Norwegian ASA | 1,669 | 19,551 | ||||||
DNB Bank ASA | 1,280 | 26,231 | ||||||
Equinor ASA | 1,831 | 35,666 | ||||||
Norsk Hydro ASA | 3,174 | 21,117 | ||||||
Selvaag Bolig ASA | 2,070 | 13,707 | ||||||
SpareBank 1 Nord Norge | 1,668 | 15,803 | ||||||
|
| |||||||
132,075 | ||||||||
|
| |||||||
Poland — 0.1% |
| |||||||
InPost SA* | 2,062 | 40,432 | ||||||
|
| |||||||
Portugal — 0.0%(b) |
| |||||||
Galp Energia SGPS SA | 1,037 | 10,112 | ||||||
|
| |||||||
Russia — 0.1% |
| |||||||
Evraz plc | 2,138 | 18,267 | ||||||
|
| |||||||
Singapore — 0.8% |
| |||||||
DBS Group Holdings Ltd. | 5,900 | 132,021 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 6,000 | 54,283 | ||||||
United Overseas Bank Ltd. | 1,600 | 30,934 | ||||||
|
| |||||||
217,238 | ||||||||
|
|
JPMorgan ActiveBuilders International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Investments | Shares | Value ($) | ||||||
South Africa — 0.8% |
| |||||||
Anglo American plc | 4,788 | 212,175 | ||||||
Investec plc | 4,492 | 17,066 | ||||||
|
| |||||||
229,241 | ||||||||
|
| |||||||
South Korea — 1.6% |
| |||||||
Delivery Hero SE*(a) | 1,230 | 183,876 | ||||||
LG Chem Ltd. | 98 | 71,981 | ||||||
Samsung Electronics Co. Ltd., GDR(a) | 114 | 195,361 | ||||||
|
| |||||||
451,218 | ||||||||
|
| |||||||
Spain — 2.7% |
| |||||||
ACS Actividades de Construccion y Servicios SA | 577 | 15,177 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 15,685 | 100,407 | ||||||
Banco Santander SA | 22,112 | 81,000 | ||||||
CaixaBank SA | 13,550 | 40,242 | ||||||
Cellnex Telecom SA(a) | 2,208 | 143,999 | ||||||
Endesa SA | 1,294 | 31,432 | ||||||
Iberdrola SA | 16,640 | 200,264 | ||||||
Indra Sistemas SA* | 2,056 | 21,523 | ||||||
Industria de Diseno Textil SA | 2,785 | 94,457 | ||||||
Mediaset Espana Comunicacion SA* | 2,486 | 14,790 | ||||||
Telefonica SA | 7,030 | 32,161 | ||||||
|
| |||||||
775,452 | ||||||||
|
| |||||||
Sweden — 3.1% |
| |||||||
Assa Abloy AB, Class B | 3,961 | 127,054 | ||||||
Atlas Copco AB, Class A | 3,965 | 268,530 | ||||||
Boliden AB* | 804 | 31,334 | ||||||
Intrum AB | 457 | 14,160 | ||||||
Lundin Energy AB | 1,504 | 46,886 | ||||||
Sandvik AB | 1,327 | 34,603 | ||||||
Skandinaviska Enskilda Banken AB, Class A | 2,286 | 30,918 | ||||||
Skanska AB, Class B | 635 | 17,926 | ||||||
SKF AB, Class B | 1,920 | 51,085 | ||||||
SSAB AB, Class B* | 3,611 | 18,459 | ||||||
Svenska Handelsbanken AB, Class A | 14,531 | 163,754 | ||||||
Telefonaktiebolaget LM Ericsson, Class B | 1,409 | 16,252 | ||||||
Volvo AB, Class B | 2,953 | 69,637 | ||||||
|
| |||||||
890,598 | ||||||||
|
| |||||||
Switzerland — 9.7% |
| |||||||
ABB Ltd. (Registered) | 1,109 | 40,543 | ||||||
Adecco Group AG (Registered) | 785 | 47,011 | ||||||
Cie Financiere Richemont SA (Registered) | 314 | 40,182 | ||||||
Givaudan SA (Registered) | 14 | 69,878 | ||||||
Holcim Ltd.* | 3,223 | 188,936 | ||||||
Julius Baer Group Ltd. | 458 | 30,229 | ||||||
Lonza Group AG (Registered) | 390 | 303,664 | ||||||
Nestle SA (Registered) | 6,029 | 763,450 | ||||||
Novartis AG (Registered) | 4,252 | 393,218 | ||||||
Partners Group Holding AG | 35 | 59,793 | ||||||
Roche Holding AG | 772 | 298,233 | ||||||
Schindler Holding AG | 49 | 15,863 | ||||||
SGS SA (Registered) | 47 | 152,124 | ||||||
Straumann Holding AG (Registered) | 53 | 98,263 | ||||||
Swiss Life Holding AG (Registered) | 54 | 27,853 | ||||||
Swisscom AG (Registered) | 32 | 19,232 | ||||||
UBS Group AG (Registered) | 8,010 | 131,971 | ||||||
Zurich Insurance Group AG | 349 | 140,708 | ||||||
|
| |||||||
2,821,151 | ||||||||
|
| |||||||
Taiwan — 1.1% |
| |||||||
Sea Ltd., ADR* | 577 | 159,344 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 1,380 | 160,963 | ||||||
|
| |||||||
320,307 | ||||||||
|
| |||||||
Ukraine — 0.1% |
| |||||||
Ferrexpo plc | 2,980 | 19,919 | ||||||
|
| |||||||
United Kingdom — 12.5% |
| |||||||
3i Group plc | 5,053 | 89,808 | ||||||
Ashtead Group plc | 313 | 23,422 | ||||||
AstraZeneca plc | 1,236 | 142,029 | ||||||
Aviva plc | 5,056 | 27,154 | ||||||
Barclays plc | 24,524 | 59,325 | ||||||
Barratt Developments plc | 1,818 | 17,767 | ||||||
Berkeley Group Holdings plc | 778 | 52,381 | ||||||
BP plc | 47,596 | 191,051 | ||||||
British American Tobacco plc | 1,019 | 37,899 | ||||||
BT Group plc* | 9,488 | 22,854 | ||||||
Centrica plc* | 25,086 | 15,830 | ||||||
CK Hutchison Holdings Ltd. | 6,000 | 43,838 | ||||||
DCC plc | 362 | 30,308 | ||||||
Diageo plc | 9,067 | 449,599 | ||||||
Dixons Carphone plc* | 11,725 | 21,031 | ||||||
GlaxoSmithKline plc | 10,534 | 207,981 | ||||||
Halfords Group plc* | 2,628 | 12,997 | ||||||
HSBC Holdings plc | 27,152 | 149,884 | ||||||
InterContinental Hotels Group plc* | 1,738 | 114,784 | ||||||
Intertek Group plc | 1,040 | 74,512 | ||||||
ITV plc* | 8,413 | 13,082 | ||||||
J Sainsbury plc | 4,482 | 17,649 | ||||||
Just Group plc* | 15,744 | 21,821 | ||||||
Kingfisher plc | 4,721 | 24,249 | ||||||
Land Securities Group plc, REIT | 2,585 | 25,443 | ||||||
Legal & General Group plc | 21,707 | 78,633 | ||||||
Linde plc | 584 | 179,080 | ||||||
Lloyds Banking Group plc | 181,567 | 114,799 | ||||||
London Stock Exchange Group plc | 1,434 | 149,525 | ||||||
M&G plc | 8,689 | 27,207 | ||||||
Marks & Spencer Group plc* | 9,889 | 18,616 | ||||||
Mitie Group plc* | 21,370 | 18,833 | ||||||
Morgan Sindall Group plc | 485 | 15,775 |
JPMorgan ActiveBuilders International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Investments | Shares | Value ($) | ||||||
Natwest Group plc | 9,102 | 25,547 | ||||||
Next plc* | 384 | 42,065 | ||||||
OSB Group plc | 3,983 | 26,796 | ||||||
Persimmon plc | 2,552 | 102,942 | ||||||
Prudential plc | 6,844 | 128,522 | ||||||
Reach plc | 5,590 | 29,876 | ||||||
Reckitt Benckiser Group plc | 2,812 | 215,117 | ||||||
RELX plc | 9,018 | 265,078 | ||||||
Smith & Nephew plc | 1,664 | 33,957 | ||||||
Standard Chartered plc | 8,058 | 48,306 | ||||||
Taylor Wimpey plc | 17,159 | 39,230 | ||||||
Tesco plc | 9,608 | 31,105 | ||||||
Unilever plc | 1,968 | 113,261 | ||||||
WPP plc | 2,598 | 33,600 | ||||||
|
| |||||||
3,624,568 | ||||||||
|
| |||||||
United States — 2.3% |
| |||||||
Ferguson plc | 1,800 | 252,340 | ||||||
Schneider Electric SE | 1,951 | 326,770 | ||||||
Stellantis NV | 5,030 | 96,458 | ||||||
|
| |||||||
675,568 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS |
| 28,693,613 | ||||||
|
| |||||||
Total Investments — 99.0% |
| 28,693,613 | ||||||
Other Assets Less Liabilities — 1.0% |
| 297,502 | ||||||
|
| |||||||
Net Assets — 100.0% |
| 28,991,115 | ||||||
|
|
Percentages indicated are based on net assets.
Summary of Investments by Industry, July 31, 2021
The following table represents the portfolio investments of the Fund by industry classifications as a percentage of total investments:
INDUSTRY | PERCENT OF TOTAL INVESTMENTS | |||
Banks | 11.0 | % | ||
Pharmaceuticals | 6.6 | |||
Insurance | 6.4 | |||
Semiconductors & Semiconductor Equipment | 4.3 | |||
Machinery | 4.3 | |||
Metals & Mining | 4.2 | |||
Textiles, Apparel & Luxury Goods | 3.8 | |||
Automobiles | 3.7 | |||
Capital Markets | 3.3 | |||
Chemicals | 3.0 | |||
Oil, Gas & Consumable Fuels | 2.8 | |||
Food Products | 2.7 | |||
Professional Services | 2.7 | |||
Beverages | 2.7 | |||
Household Durables | 2.2 | |||
Trading Companies & Distributors | 2.1 | |||
Health Care Equipment & Supplies | 2.1 | |||
IT Services | 2.0 | |||
Personal Products | 1.8 | |||
Electrical Equipment | 1.7 | |||
Diversified Telecommunication Services | 1.7 | |||
Electric Utilities | 1.7 | |||
Electronic Equipment, Instruments & Components | 1.6 | |||
Building Products | 1.6 | |||
Internet & Direct Marketing Retail | 1.5 | |||
Industrial Conglomerates | 1.4 | |||
Life Sciences Tools & Services | 1.1 | |||
Entertainment | 1.0 | |||
Construction Materials | 1.0 | |||
Biotechnology | 1.0 | |||
Others (each less than 1.0%) | 13.0 |
JPMorgan ActiveBuilders International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
Abbreviations | ||
ADR | American Depositary Receipt | |
GDR | Global Depositary Receipt | |
OYJ | Public Limited Company | |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. | |
PT | Limited liability company | |
REIT | Real Estate Investment Trust | |
SDR | Swedish Depositary Receipt | |
SGPS | Holding company | |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(b) | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. |
JPMorgan ActiveBuilders International Equity ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF JULY 31, 2021 (Unaudited) (continued)
A. Valuation of Investments — Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund’s valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.
J.P. Morgan Investment Management Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values (“NAV”) of the Fund are calculated on a valuation date.
Certain foreign equity instruments are valued by applying international fair value factors provided by an approved Pricing Service. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAVs are calculated.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund’s investments are summarized into the three broad levels listed below.
• | Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments. |
• | Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs. |
• | Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s assumptions in determining the fair value of investments). |
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments:
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |||||||||||||
Investments in Securities |
| |||||||||||||||
Common Stocks |
| |||||||||||||||
Australia | $ | — | $ | 1,404,905 | $ | — | $ | 1,404,905 | ||||||||
Austria | — | 202,169 | — | 202,169 | ||||||||||||
Belgium | — | 251,471 | — | 251,471 | ||||||||||||
Canada | 112,036 | — | — | 112,036 | ||||||||||||
China | 320,575 | 184,449 | — | 505,024 | ||||||||||||
Denmark | 38,557 | 984,743 | — | 1,023,300 | ||||||||||||
Finland | — | 291,334 | — | 291,334 | ||||||||||||
France | 71,084 | 3,117,409 | — | 3,188,493 | ||||||||||||
Germany | 14,723 | 2,456,460 | — | 2,471,183 | ||||||||||||
Hong Kong | 15,751 | 712,754 | — | 728,505 | ||||||||||||
India | 172,261 | — | — | 172,261 | ||||||||||||
Indonesia | — | 37,365 | — | 37,365 | ||||||||||||
Ireland | 19,082 | 101,165 | — | 120,247 | ||||||||||||
Italy | — | 359,870 | — | 359,870 | ||||||||||||
Japan | — | 5,756,595 | — | 5,756,595 | ||||||||||||
Luxembourg | — | 29,547 | — | 29,547 | ||||||||||||
Macau | — | 27,248 | — | 27,248 | ||||||||||||
Malta | — | 17,776 | — | 17,776 | ||||||||||||
Netherlands | — | 1,768,138 | — | 1,768,138 | ||||||||||||
Norway | 55,741 | 76,334 | — | 132,075 | ||||||||||||
Poland | — | 40,432 | — | 40,432 | ||||||||||||
Portugal | — | 10,112 | — | 10,112 | ||||||||||||
Russia | — | 18,267 | — | 18,267 | ||||||||||||
Singapore | — | 217,238 | — | 217,238 | ||||||||||||
South Africa | — | 229,241 | — | 229,241 | ||||||||||||
South Korea | — | 451,218 | — | 451,218 | ||||||||||||
Spain | 14,790 | 760,662 | — | 775,452 | ||||||||||||
Sweden | — | 890,598 | — | 890,598 | ||||||||||||
Switzerland | — | 2,821,151 | — | 2,821,151 | ||||||||||||
Taiwan | 320,307 | — | — | 320,307 | ||||||||||||
Ukraine | — | 19,919 | — | 19,919 | ||||||||||||
United Kingdom | 104,277 | 3,520,291 | — | 3,624,568 | ||||||||||||
United States | — | 675,568 | — | 675,568 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Common Stocks | 1,259,184 | 27,434,429 | — | 28,693,613 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | 1,259,184 | $ | 27,434,429 | $ | — | $ | 28,693,613 | ||||||||
|
|
|
|
|
|
|
|