# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0002071691-25-001889
**Filing Date:** 2025-9
**Character Count:** 101145
**Document Hash:** ff410e24cb9e4fc222de0ad4b684b66a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-001889.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-001889

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J.P. Morgan Exchange-Traded Fund Trust
- **CENTRAL INDEX KEY:** 0001485894

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 251341890

**BUSINESS ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172
- **BUSINESS PHONE:** (800) 480-4111

**MAIL ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172

## Series and Classes Contracts Data

### JPMorgan Hedged Equity Laddered Overlay ETF (Series ID: S000081816)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000244865 | JPMorgan Hedged Equity Laddered Overlay ETF | HELO            |

## Nport-Ex

**JPMorgan Hedged Equity Laddered Overlay ETF**

**Schedule of Portfolio Investments as of July 31, 2025**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS" <br> LIST ("the List") IS TO BE USED FOR REPORTING PURPOSES <br> ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS <br> ADVERTISING OR SALES LITERATURE WITH THE GENERAL <br> PUBLIC. The list is submitted for the general information of the <br> shareholders of the Fund. It is not authorized for distribution to <br> prospective investors in the Fund unless preceded or accompanied by a <br> prospectus. The list has been created from the books and records of <br> the Fund. Holdings are available 60 days after the fund's fiscal quarter, <br> using a trade date accounting convention, by contacting the appropriate <br> service center. The list is subject to change without notice. The list is <br> for informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2025. |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE($)** |
| **Common Stocks — 100.6%** | **Common Stocks — 100.6%** | **Common Stocks — 100.6%** |
| **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 161844 | &nbsp;&nbsp;&nbsp;&nbsp; 29094696 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 133015 | &nbsp;&nbsp;&nbsp;&nbsp; 20959174 |
| &nbsp;&nbsp;&nbsp; Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 6610450 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12277 | &nbsp;&nbsp;&nbsp;&nbsp; 19747063 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 76411383 |
| **Air Freight & Logistics — 0.5%** | **Air Freight & Logistics — 0.5%** | **Air Freight & Logistics — 0.5%** |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 35416 | &nbsp;&nbsp;&nbsp;&nbsp; 7915122 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 108770 | &nbsp;&nbsp;&nbsp;&nbsp; 9371623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17286745 |
| **Automobile Components — 0.1%** | **Automobile Components — 0.1%** | **Automobile Components — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aptiv plc (Jersey) \* | &nbsp;&nbsp;&nbsp;&nbsp; 39530 | &nbsp;&nbsp;&nbsp;&nbsp; 2713339 |
| **Automobiles — 1.5%** | **Automobiles — 1.5%** | **Automobiles — 1.5%** |
| &nbsp;&nbsp;&nbsp; Tesla, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 160888 | &nbsp;&nbsp;&nbsp;&nbsp; 49596944 |
| **Banks — 3.6%** | **Banks — 3.6%** | **Banks — 3.6%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 853992 | &nbsp;&nbsp;&nbsp;&nbsp; 40368202 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 131818 | &nbsp;&nbsp;&nbsp;&nbsp; 12351346 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 297916 | &nbsp;&nbsp;&nbsp;&nbsp; 12384368 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 130566 | &nbsp;&nbsp;&nbsp;&nbsp; 5707040 |
| &nbsp;&nbsp;&nbsp; US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 223343 | &nbsp;&nbsp;&nbsp;&nbsp; 10041501 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 441147 | &nbsp;&nbsp;&nbsp;&nbsp; 35569683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 116422140 |
| **Beverages — 1.8%** | **Beverages — 1.8%** | **Beverages — 1.8%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 240462 | &nbsp;&nbsp;&nbsp;&nbsp; 16324965 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 506162 | &nbsp;&nbsp;&nbsp;&nbsp; 16526189 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 181379 | &nbsp;&nbsp;&nbsp;&nbsp; 25015792 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 57866946 |
| **Biotechnology — 1.9%** | **Biotechnology — 1.9%** | **Biotechnology — 1.9%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 193346 | &nbsp;&nbsp;&nbsp;&nbsp; 36546261 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 18866 | &nbsp;&nbsp;&nbsp;&nbsp; 2419187 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19782 | &nbsp;&nbsp;&nbsp;&nbsp; 10790290 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 26914 | &nbsp;&nbsp;&nbsp;&nbsp; 12296199 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 62051937 |
| **Broadline Retail — 4.6%** | **Broadline Retail — 4.6%** | **Broadline Retail — 4.6%** |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 642290 | &nbsp;&nbsp;&nbsp;&nbsp; 150366512 |
| **Building Products — 1.6%** | **Building Products — 1.6%** | **Building Products — 1.6%** |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 262531 | &nbsp;&nbsp;&nbsp;&nbsp; 18014877 |
| &nbsp;&nbsp;&nbsp; Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 105287 | &nbsp;&nbsp;&nbsp;&nbsp; 7173203 |
| &nbsp;&nbsp;&nbsp; Trane Technologies plc | &nbsp;&nbsp;&nbsp;&nbsp; 58657 | &nbsp;&nbsp;&nbsp;&nbsp; 25696459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 50884539 |
| **Capital Markets — 2.3%** | **Capital Markets — 2.3%** | **Capital Markets — 2.3%** |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28411 | &nbsp;&nbsp;&nbsp;&nbsp; 14722296 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 294880 | &nbsp;&nbsp;&nbsp;&nbsp; 28818622 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 58230 | &nbsp;&nbsp;&nbsp;&nbsp; 16204244 |
| &nbsp;&nbsp;&nbsp; MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6185 | &nbsp;&nbsp;&nbsp;&nbsp; 3472012 |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Capital Markets — continued** | **Capital Markets — continued** | **Capital Markets — continued** |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 29648 | &nbsp;&nbsp;&nbsp;&nbsp; 4955070 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 63930 | &nbsp;&nbsp;&nbsp;&nbsp; 7144178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 75316422 |
| **Chemicals — 1.3%** | **Chemicals — 1.3%** | **Chemicals — 1.3%** |
| &nbsp;&nbsp;&nbsp; Linde plc | &nbsp;&nbsp;&nbsp;&nbsp; 52290 | &nbsp;&nbsp;&nbsp;&nbsp; 24066995 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 83507 | &nbsp;&nbsp;&nbsp;&nbsp; 4837561 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 68384 | &nbsp;&nbsp;&nbsp;&nbsp; 7214512 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 14185 | &nbsp;&nbsp;&nbsp;&nbsp; 4693533 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 40812601 |
| **Communications Equipment — 0.4%** | **Communications Equipment — 0.4%** | **Communications Equipment — 0.4%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 78387 | &nbsp;&nbsp;&nbsp;&nbsp; 9658846 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10024 | &nbsp;&nbsp;&nbsp;&nbsp; 4400336 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14059182 |
| **Construction Materials — 0.4%** | **Construction Materials — 0.4%** | **Construction Materials — 0.4%** |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9491 | &nbsp;&nbsp;&nbsp;&nbsp; 5456186 |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp; 24288 | &nbsp;&nbsp;&nbsp;&nbsp; 6671185 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12127371 |
| **Consumer Finance — 0.8%** | **Consumer Finance — 0.8%** | **Consumer Finance — 0.8%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp; 37005 | &nbsp;&nbsp;&nbsp;&nbsp; 11075967 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 67510 | &nbsp;&nbsp;&nbsp;&nbsp; 14514650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 25590617 |
| **Consumer Staples Distribution & Retail — 1.0%** | **Consumer Staples Distribution & Retail — 1.0%** | **Consumer Staples Distribution & Retail — 1.0%** |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 335461 | &nbsp;&nbsp;&nbsp;&nbsp; 32868469 |
| **Diversified Telecommunication Services — 0.4%** | **Diversified Telecommunication Services — 0.4%** | **Diversified Telecommunication Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 505003 | &nbsp;&nbsp;&nbsp;&nbsp; 13842132 |
| **Electric Utilities — 1.9%** | **Electric Utilities — 1.9%** | **Electric Utilities — 1.9%** |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 26416 | &nbsp;&nbsp;&nbsp;&nbsp; 2388799 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 348207 | &nbsp;&nbsp;&nbsp;&nbsp; 24743589 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13221 | &nbsp;&nbsp;&nbsp;&nbsp; 2210551 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 370904 | &nbsp;&nbsp;&nbsp;&nbsp; 5200074 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 292912 | &nbsp;&nbsp;&nbsp;&nbsp; 27674326 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 62217339 |
| **Electrical Equipment — 0.9%** | **Electrical Equipment — 0.9%** | **Electrical Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp; Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp; 38206 | &nbsp;&nbsp;&nbsp;&nbsp; 14698612 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 45133 | &nbsp;&nbsp;&nbsp;&nbsp; 6567303 |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12538 | &nbsp;&nbsp;&nbsp;&nbsp; 8278716 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 29544631 |
| **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp; 193943 | &nbsp;&nbsp;&nbsp;&nbsp; 8737132 |
| **Entertainment — 1.3%** | **Entertainment — 1.3%** | **Entertainment — 1.3%** |
| &nbsp;&nbsp;&nbsp; Netflix, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 18385 | &nbsp;&nbsp;&nbsp;&nbsp; 21315569 |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Entertainment — continued** | **Entertainment — continued** | **Entertainment — continued** |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 162622 | &nbsp;&nbsp;&nbsp;&nbsp; 19369906 |
| &nbsp;&nbsp;&nbsp; Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 100380 | &nbsp;&nbsp;&nbsp;&nbsp; 2937119 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 43622594 |
| **Financial Services — 6.0%** | **Financial Services — 6.0%** | **Financial Services — 6.0%** |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 60046 | &nbsp;&nbsp;&nbsp;&nbsp; 8725885 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 98744 | &nbsp;&nbsp;&nbsp;&nbsp; 46595319 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 43234 | &nbsp;&nbsp;&nbsp;&nbsp; 13966744 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 195320 | &nbsp;&nbsp;&nbsp;&nbsp; 15510361 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 97950 | &nbsp;&nbsp;&nbsp;&nbsp; 55485736 |
| &nbsp;&nbsp;&nbsp; Toast, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 115392 | &nbsp;&nbsp;&nbsp;&nbsp; 5635745 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 141905 | &nbsp;&nbsp;&nbsp;&nbsp; 49023920 |
| &nbsp;&nbsp;&nbsp; WEX, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8295 | &nbsp;&nbsp;&nbsp;&nbsp; 1407496 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 196351206 |
| **Food Products — 0.6%** | **Food Products — 0.6%** | **Food Products — 0.6%** |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 306663 | &nbsp;&nbsp;&nbsp;&nbsp; 19838029 |
| **Ground Transportation — 0.3%** | **Ground Transportation — 0.3%** | **Ground Transportation — 0.3%** |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 109061 | &nbsp;&nbsp;&nbsp;&nbsp; 9570103 |
| **Health Care Equipment & Supplies — 2.3%** | **Health Care Equipment & Supplies — 2.3%** | **Health Care Equipment & Supplies — 2.3%** |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 54542 | &nbsp;&nbsp;&nbsp;&nbsp; 1186834 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 186647 | &nbsp;&nbsp;&nbsp;&nbsp; 19583003 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 128455 | &nbsp;&nbsp;&nbsp;&nbsp; 10187766 |
| &nbsp;&nbsp;&nbsp; Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp; 198315 | &nbsp;&nbsp;&nbsp;&nbsp; 17895945 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 59886 | &nbsp;&nbsp;&nbsp;&nbsp; 23519029 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12095 | &nbsp;&nbsp;&nbsp;&nbsp; 1108507 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 73481084 |
| **Health Care Providers & Services — 1.4%** | **Health Care Providers & Services — 1.4%** | **Health Care Providers & Services — 1.4%** |
| &nbsp;&nbsp;&nbsp; Cigna Group (The) | &nbsp;&nbsp;&nbsp;&nbsp; 44873 | &nbsp;&nbsp;&nbsp;&nbsp; 11998143 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9875 | &nbsp;&nbsp;&nbsp;&nbsp; 3495651 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 27137 | &nbsp;&nbsp;&nbsp;&nbsp; 6780722 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7961 | &nbsp;&nbsp;&nbsp;&nbsp; 5521272 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 76392 | &nbsp;&nbsp;&nbsp;&nbsp; 19064388 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 46860176 |
| **Health Care REITs — 0.8%** | **Health Care REITs — 0.8%** | **Health Care REITs — 0.8%** |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15343 | &nbsp;&nbsp;&nbsp;&nbsp; 1172666 |
| &nbsp;&nbsp;&nbsp; Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 222701 | &nbsp;&nbsp;&nbsp;&nbsp; 14961053 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 63073 | &nbsp;&nbsp;&nbsp;&nbsp; 10411460 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 26545179 |
| **Hotels, Restaurants & Leisure — 3.5%** | **Hotels, Restaurants & Leisure — 3.5%** | **Hotels, Restaurants & Leisure — 3.5%** |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1963 | &nbsp;&nbsp;&nbsp;&nbsp; 10804470 |
| &nbsp;&nbsp;&nbsp; Carnival Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 356174 | &nbsp;&nbsp;&nbsp;&nbsp; 10603300 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 345486 | &nbsp;&nbsp;&nbsp;&nbsp; 14814440 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 27740 | &nbsp;&nbsp;&nbsp;&nbsp; 6941935 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 51515 | &nbsp;&nbsp;&nbsp;&nbsp; 9284033 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 67388 | &nbsp;&nbsp;&nbsp;&nbsp; 18065375 |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** | **Hotels, Restaurants & Leisure — continued** |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 95862 | &nbsp;&nbsp;&nbsp;&nbsp; 28765310 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 107055 | &nbsp;&nbsp;&nbsp;&nbsp; 15431978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 114710841 |
| **Household Durables — 0.1%** | **Household Durables — 0.1%** | **Household Durables — 0.1%** |
| &nbsp;&nbsp;&nbsp; Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 29897 | &nbsp;&nbsp;&nbsp;&nbsp; 3353845 |
| **Household Products — 0.1%** | **Household Products — 0.1%** | **Household Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44262 | &nbsp;&nbsp;&nbsp;&nbsp; 4150448 |
| **Independent Power and Renewable Electricity Producers — 0.5%** | **Independent Power and Renewable Electricity Producers — 0.5%** | **Independent Power and Renewable Electricity Producers — 0.5%** |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 77443 | &nbsp;&nbsp;&nbsp;&nbsp; 16149963 |
| **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp; 140035 | &nbsp;&nbsp;&nbsp;&nbsp; 20896023 |
| **Industrial REITs — 0.3%** | **Industrial REITs — 0.3%** | **Industrial REITs — 0.3%** |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 84073 | &nbsp;&nbsp;&nbsp;&nbsp; 8977315 |
| **Insurance — 1.7%** | **Insurance — 1.7%** | **Insurance — 1.7%** |
| &nbsp;&nbsp;&nbsp; Aon plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 38398 | &nbsp;&nbsp;&nbsp;&nbsp; 13658553 |
| &nbsp;&nbsp;&nbsp; Arthur J Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 62612 | &nbsp;&nbsp;&nbsp;&nbsp; 17985297 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 91573 | &nbsp;&nbsp;&nbsp;&nbsp; 22164329 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 53808179 |
| **Interactive Media & Services — 7.0%** | **Interactive Media & Services — 7.0%** | **Interactive Media & Services — 7.0%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 359129 | &nbsp;&nbsp;&nbsp;&nbsp; 68916855 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C (a) | &nbsp;&nbsp;&nbsp;&nbsp; 204023 | &nbsp;&nbsp;&nbsp;&nbsp; 39347876 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 155486 | &nbsp;&nbsp;&nbsp;&nbsp; 120259092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 228523823 |
| **IT Services — 0.4%** | **IT Services — 0.4%** | **IT Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 188335 | &nbsp;&nbsp;&nbsp;&nbsp; 13514920 |
| **Life Sciences Tools & Services — 0.7%** | **Life Sciences Tools & Services — 0.7%** | **Life Sciences Tools & Services — 0.7%** |
| &nbsp;&nbsp;&nbsp; Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 55085 | &nbsp;&nbsp;&nbsp;&nbsp; 10860558 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 26216 | &nbsp;&nbsp;&nbsp;&nbsp; 12260699 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 23121257 |
| **Machinery — 1.5%** | **Machinery — 1.5%** | **Machinery — 1.5%** |
| &nbsp;&nbsp;&nbsp; Deere & Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 38332 | &nbsp;&nbsp;&nbsp;&nbsp; 20100151 |
| &nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 67499 | &nbsp;&nbsp;&nbsp;&nbsp; 5712441 |
| &nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 176615 | &nbsp;&nbsp;&nbsp;&nbsp; 15134139 |
| &nbsp;&nbsp;&nbsp; PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 82850 | &nbsp;&nbsp;&nbsp;&nbsp; 8182266 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 49128997 |
| **Media — 0.8%** | **Media — 0.8%** | **Media — 0.8%** |
| &nbsp;&nbsp;&nbsp; Charter Communications, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 28455 | &nbsp;&nbsp;&nbsp;&nbsp; 7664639 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 482213 | &nbsp;&nbsp;&nbsp;&nbsp; 16023938 |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11894 | &nbsp;&nbsp;&nbsp;&nbsp; 856962 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 24545539 |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Metals & Mining — 0.3%** | **Metals & Mining — 0.3%** | **Metals & Mining — 0.3%** |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 126304 | &nbsp;&nbsp;&nbsp;&nbsp; 5082473 |
| &nbsp;&nbsp;&nbsp; Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 22119 | &nbsp;&nbsp;&nbsp;&nbsp; 3164565 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8247038 |
| **Oil, Gas & Consumable Fuels — 2.8%** | **Oil, Gas & Consumable Fuels — 2.8%** | **Oil, Gas & Consumable Fuels — 2.8%** |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 54699 | &nbsp;&nbsp;&nbsp;&nbsp; 8294556 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp; 152641 | &nbsp;&nbsp;&nbsp;&nbsp; 14552793 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47303 | &nbsp;&nbsp;&nbsp;&nbsp; 7032064 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 166580 | &nbsp;&nbsp;&nbsp;&nbsp; 19992932 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 367048 | &nbsp;&nbsp;&nbsp;&nbsp; 40977239 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 90849584 |
| **Passenger Airlines — 0.2%** | **Passenger Airlines — 0.2%** | **Passenger Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 107891 | &nbsp;&nbsp;&nbsp;&nbsp; 5740880 |
| **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 240894 | &nbsp;&nbsp;&nbsp;&nbsp; 5164767 |
| **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp; 358503 | &nbsp;&nbsp;&nbsp;&nbsp; 15526765 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 40827 | &nbsp;&nbsp;&nbsp;&nbsp; 30214838 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson (a) | &nbsp;&nbsp;&nbsp;&nbsp; 196997 | &nbsp;&nbsp;&nbsp;&nbsp; 32453286 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 54126 | &nbsp;&nbsp;&nbsp;&nbsp; 4228323 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 82423212 |
| **Professional Services — 0.4%** | **Professional Services — 0.4%** | **Professional Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 74251 | &nbsp;&nbsp;&nbsp;&nbsp; 11854172 |
| **Residential REITs — 0.1%** | **Residential REITs — 0.1%** | **Residential REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 77511 | &nbsp;&nbsp;&nbsp;&nbsp; 4644459 |
| **Semiconductors & Semiconductor Equipment — 14.3%** | **Semiconductors & Semiconductor Equipment — 14.3%** | **Semiconductors & Semiconductor Equipment — 14.3%** |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 103935 | &nbsp;&nbsp;&nbsp;&nbsp; 23346919 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 283260 | &nbsp;&nbsp;&nbsp;&nbsp; 83193462 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 258065 | &nbsp;&nbsp;&nbsp;&nbsp; 24474885 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 144308 | &nbsp;&nbsp;&nbsp;&nbsp; 15749775 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 1566549 | &nbsp;&nbsp;&nbsp;&nbsp; 278642071 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV (Netherlands) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 91785 | &nbsp;&nbsp;&nbsp;&nbsp; 19620879 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 115430 | &nbsp;&nbsp;&nbsp;&nbsp; 20899756 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 465927747 |
| **Software — 12.2%** | **Software — 12.2%** | **Software — 12.2%** |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 29874 | &nbsp;&nbsp;&nbsp;&nbsp; 10891164 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 5312 | &nbsp;&nbsp;&nbsp;&nbsp; 2414676 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15594 | &nbsp;&nbsp;&nbsp;&nbsp; 12243317 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 509117 | &nbsp;&nbsp;&nbsp;&nbsp; 271613920 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 156204 | &nbsp;&nbsp;&nbsp;&nbsp; 39639889 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 76213 | &nbsp;&nbsp;&nbsp;&nbsp; 12068329 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 97455 | &nbsp;&nbsp;&nbsp;&nbsp; 25175550 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 24676 | &nbsp;&nbsp;&nbsp;&nbsp; 23272429 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 397319274 |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Specialized REITs — 0.6%** | **Specialized REITs — 0.6%** | **Specialized REITs — 0.6%** |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14221 | &nbsp;&nbsp;&nbsp;&nbsp; 11165902 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 43019 | &nbsp;&nbsp;&nbsp;&nbsp; 9667230 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20833132 |
| **Specialty Retail — 1.8%** | **Specialty Retail — 1.8%** | **Specialty Retail — 1.8%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1159 | &nbsp;&nbsp;&nbsp;&nbsp; 4367552 |
| &nbsp;&nbsp;&nbsp; Burlington Stores, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 37010 | &nbsp;&nbsp;&nbsp;&nbsp; 10102250 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 130877 | &nbsp;&nbsp;&nbsp;&nbsp; 29260171 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 116589 | &nbsp;&nbsp;&nbsp;&nbsp; 15919062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 59649035 |
| **Technology Hardware, Storage & Peripherals — 6.5%** | **Technology Hardware, Storage & Peripherals — 6.5%** | **Technology Hardware, Storage & Peripherals — 6.5%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 913283 | &nbsp;&nbsp;&nbsp;&nbsp; 189570152 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings plc | &nbsp;&nbsp;&nbsp;&nbsp; 126051 | &nbsp;&nbsp;&nbsp;&nbsp; 19791268 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 21981 | &nbsp;&nbsp;&nbsp;&nbsp; 1729685 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 211091105 |
| **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** |
| &nbsp;&nbsp;&nbsp; NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 70619 | &nbsp;&nbsp;&nbsp;&nbsp; 5274533 |
| **Tobacco — 0.6%** | **Tobacco — 0.6%** | **Tobacco — 0.6%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 103236 | &nbsp;&nbsp;&nbsp;&nbsp; 6394438 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 86950 | &nbsp;&nbsp;&nbsp;&nbsp; 14264147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20658585 |
| **Trading Companies & Distributors — 0.2%** | **Trading Companies & Distributors — 0.2%** | **Trading Companies & Distributors — 0.2%** |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5866 | &nbsp;&nbsp;&nbsp;&nbsp; 5179326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $2,925,052,397)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 3270722751 |
|  | &nbsp;&nbsp;&nbsp; **NO. OF** <br> **CONTRACTS**<br>|  |
| **Options Purchased — 0.7%** | **Options Purchased — 0.7%** | **Options Purchased — 0.7%** |
| **Put Options Purchased — 0.7%** | **Put Options Purchased — 0.7%** | **Put Options Purchased — 0.7%** |
| &nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2025 at USD 558.00, American Style |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional Amount: USD 1,133,382,648 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Counterparty: Exchange-Traded \* | &nbsp;&nbsp;&nbsp;&nbsp; 17931 | &nbsp;&nbsp;&nbsp;&nbsp; 1398618 |
| &nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2025 at USD 585.00, American Style |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional Amount: USD 1,133,382,648 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Counterparty: Exchange-Traded \* | &nbsp;&nbsp;&nbsp;&nbsp; 17931 | &nbsp;&nbsp;&nbsp;&nbsp; 7620675 |
| &nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2025 at USD 599.00, American Style |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional Amount: USD 1,023,969,600 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Counterparty: Exchange-Traded \* | &nbsp;&nbsp;&nbsp;&nbsp; 16200 | &nbsp;&nbsp;&nbsp;&nbsp; 14199300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Put Options Purchased <br>(Cost $47,524,630)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 23218593 |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS**  | **SHARES** | **VALUE($)** |
| **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** |
| **Investment Companies — 0.4%** | **Investment Companies — 0.4%** | **Investment Companies — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.26% (b) (c) <br>(Cost $13,003,016)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13003016 | &nbsp;&nbsp;&nbsp;&nbsp; 13003016 |
| **Total Investments — 101.7%** <br>**(Cost $2,985,580,043)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **3306944360** |
| **Liabilities in Excess of Other Assets — (1.7)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(56681451)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **3250262909** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages indicated are based on net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ETF | Exchange Traded Fund |
| REIT | Real Estate Investment Trust |
| SPDR | Standard & Poor's Depositary Receipt |
| USD | United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Non-income producing security. 

(a) All or a portion of the security is segregated as collateral for options written.

(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 July 31, 2025.

**Written Call Options Contracts as of July 31, 2025**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **COUNTERPARTY** | &nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT**<br>| &nbsp;&nbsp;&nbsp; **EXERCISE** <br>**PRICE**<br>| &nbsp;&nbsp; **EXPIRATION** <br>**DATE**<br>| **VALUE ($)** |
| SPDR S&P 500 ETF Trust | Exchange-Traded | 17931 | &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 1,133,382,648<br>| &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 619.00<br>| 8/29/2025 | &nbsp;&nbsp; (37332342)<br>|
| SPDR S&P 500 ETF Trust | Exchange-Traded | 17931 | &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 1,133,382,648<br>| &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 648.00<br>| 9/30/2025 | &nbsp;&nbsp; (12533769)<br>|
| SPDR S&P 500 ETF Trust | Exchange-Traded | 16200 | &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 1,023,969,600<br>| &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 660.00<br>| 10/31/2025 | &nbsp;&nbsp; (11129400)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; (60995511)<br>|

---

**Written Put Options Contracts as of July 31, 2025**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **COUNTERPARTY** | &nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT**<br>| &nbsp;&nbsp;&nbsp; **EXERCISE** <br>**PRICE**<br>| &nbsp;&nbsp; **EXPIRATION** <br>**DATE**<br>| **VALUE ($)** |
| SPDR S&P 500 ETF Trust | Exchange-Traded | 17931 | &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 1,133,382,648<br>| &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 470.00<br>| 8/29/2025 | &nbsp;&nbsp; (376551)<br>|
| SPDR S&P 500 ETF Trust | Exchange-Traded | 17931 | &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 1,133,382,648<br>| &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 495.00<br>| 9/30/2025 | &nbsp;&nbsp; (1595859)<br>|
| SPDR S&P 500 ETF Trust | Exchange-Traded | 16200 | &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 1,023,969,600<br>| &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 505.00<br>| 10/31/2025 | &nbsp;&nbsp; (3215700)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; (5188110)<br>|
| Total Written Options Contracts (Premiums Received $46,239,678) | Total Written Options Contracts (Premiums Received $46,239,678) | Total Written Options Contracts (Premiums Received $46,239,678) | Total Written Options Contracts (Premiums Received $46,239,678) | Total Written Options Contracts (Premiums Received $46,239,678) | Total Written Options Contracts (Premiums Received $46,239,678) | &nbsp;&nbsp; (66183621)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Abbreviations** |  |
| ETF | Exchange Traded Fund |
| SPDR | Standard & Poor's Depositary Receipt |
| USD | United States Dollar |

---

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**A. Valuation of Investments**— Investments are valued in accordance with U.S. generally accepted accounting principles ("GAAP") and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the "Board"), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under Securities and Exchange Commission Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset value ("NAV") of the Fund is calculated on a valuation date. 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 NAV is calculated.

Investments in open-end investment companies ("Underlying Funds"), are valued at each Underlying Fund's NAV per share as of the report date.

Options are generally valued on the basis of available market quotations.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.

• Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.

• Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.

• Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The following table represents each valuation input as presented on the Schedule of Portfolio Investments ("SOI"):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Total Investments in Securities** (a) | &nbsp;&nbsp;&nbsp;&nbsp; $3306944360 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3306944360 |
| **Depreciation in Other Financial Instruments** |  |  |  |  |
| Options Written (a) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Call Options Written | &nbsp;&nbsp;&nbsp;&nbsp; (60995511)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (60995511)<br>|
| &nbsp;&nbsp;&nbsp; Put Options Written | &nbsp;&nbsp;&nbsp;&nbsp; (5188110)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5188110)<br>|
| **Total Depreciation in Other Financial Instruments** | &nbsp;&nbsp;&nbsp;&nbsp; $(66183621)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(66183621)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> (a) Please refer to the SOI for specifics of portfolio holdings.

------

**JPMorgan Hedged Equity Laddered Overlay ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**B. Investment Transactions with Affiliates**— The Fund invested in an Underlying Fund advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer. The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2024**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**July 31,** <br>**2025**<br>| **Shares at** <br>**July 31,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, <br> 4.26% (a) (b)<br>| $3197539 | $122354870 | $112549393 | $— | $— | $13003016 | 13003016 | $306126 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 <br> (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. <br> (b) The rate shown is the current yield as of July 31, 2025.

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** J.P. Morgan Exchange-Traded Fund Trust

- **b. Investment Company Act file number:** 811-22903

- **c. CIK number of Registrant:** 0001485894

- **d. LEI of Registrant:** 5493001E1K1DVWDV2464

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 277 Park Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

  - **Telephone number:** 844-457-6383

**Item A.2. Information about the Series.**

- **a. Name of Series:** JPMorgan Hedged Equity Laddered Overlay ETF

- **b. EDGAR series identifier (if any):** S000081816

- **c. LEI of Series:** 5493000MOGITBTHUCD89

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $3476552205.33

**Total Liabilities:** $134490920.10

**Net Assets:** $3342061285.23

**Cash Not Reported:** $22806.85

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244865 | 3.41%                | 2.30%                | 1.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3059053.50              | $176966996.42                              |
| Month 2  | $9952214.96              | $157623008.80                              |
| Month 3  | $34360832.33             | $39908608.54                               |

**Designated Index Information**

- **Index Name:** S&P 500

- **Index Identifier:** SP500GRUSD0

### Schedule of Portfolio Investments

| Name                                         | Title                                                | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Oracle Corp.                                 | Oracle Corp.                                         | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    163362 | NS      | $41456374.74  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp. plc                              | Eaton Corp. plc                                      | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |     39308 | NS      | $15122573.76  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | S&P 500 Index                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1731 | NC      | $-81251409.00 | -2.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.                 | Cadence Design Systems, Inc.                         | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     30686 | NS      | $11187195.02  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                           | Lam Research Corp.                                   | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    265373 | NS      | $25167975.32  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                            | Exxon Mobil Corp.                                    | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    377430 | NS      | $42136285.20  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co.                         | Vulcan Materials Co.                                 | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     24984 | NS      | $6862355.28   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                               | Alphabet, Inc., Class A                              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    369279 | NS      | $70864640.10  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                                | Walmart, Inc.                                        | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    344915 | NS      | $33794771.70  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group, Inc.                              | CME Group, Inc.                                      | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     59854 | NS      | $16656171.12  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings, Inc.                   | Crowdstrike Holdings, Inc., Class A                  | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      5486 | NS      | $2493771.02   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corp.                     | Warner Music Group Corp., Class A                    | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    103222 | NS      | $3020275.72   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International, Inc.                   | Baxter International, Inc.                           | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |     56108 | NS      | $1220910.08   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA Corp.                                         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   1610803 | NS      | $286513529.61 | 8.57%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp.                                   | PG&E Corp.                                           | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    381402 | NS      | $5347256.04   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | Amazon.com, Inc.                                     | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    660444 | NS      | $154616544.84 | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties, Inc.            | Equity LifeStyle Properties, Inc.                    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     79715 | NS      | $4776522.80   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings, Inc.              | Hilton Worldwide Holdings, Inc.                      | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |     69302 | NS      | $18578480.16  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co.                     | Bristol-Myers Squibb Co.                             | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    368595 | NS      | $15963849.45  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                              | Eli Lilly & Co.                                      | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     41987 | NS      | $31073319.09  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp.                                | Danaher Corp.                                        | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     56651 | NS      | $11169311.16  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp.                                | Stryker Corp.                                        | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     61568 | NS      | $24179600.64  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace, Inc.                       | Howmet Aerospace, Inc.                               | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |    166426 | NS      | $29918402.02  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                               | Alphabet, Inc., Class C                              | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    209765 | NS      | $40455277.90  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences, Inc.                 | Neurocrine Biosciences, Inc.                         | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     19388 | NS      | $2486123.24   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp.                      | Boston Scientific Corp.                              | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    191925 | NS      | $20136771.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit, Inc.                                 | Intuit, Inc.                                         | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     16058 | NS      | $12607617.54  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.                     | SBA Communications Corp.                             | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     44237 | NS      | $9940938.64   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova, Inc.                             | GE Vernova, Inc.                                     | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |     12362 | NS      | $8162504.98   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                  | Apple, Inc.                                          | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    939093 | NS      | $194927534.01 | 5.83%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash, Inc.                               | DoorDash, Inc., Class A                              | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     28494 | NS      | $7130623.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                         | NextEra Energy, Inc.                                 | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    358009 | NS      | $25440119.54  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores, Inc.                            | Ross Stores, Inc.                                    | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |    119895 | NS      | $16370463.30  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co.                         | American Express Co.                                 | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     38049 | NS      | $11388446.19  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies, Inc.                      | Uber Technologies, Inc.                              | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    112135 | NS      | $9839846.25   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                            | Johnson & Johnson                                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    202565 | NS      | $33370558.10  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                            | Merck & Co., Inc.                                    | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     59875 | NS      | $4677435.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                             | Mastercard, Inc., Class A                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    100734 | NS      | $57062788.98  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                                   | AT&T, Inc.                                           | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    519271 | NS      | $14233218.11  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                                  | Tesla, Inc.                                          | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    165412 | NS      | $50991557.24  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp.                                  | Nucor Corp.                                          | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     22757 | NS      | $3255843.99   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks, Inc.                        | Arista Networks, Inc.                                | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     80591 | NS      | $9930423.02   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                  | United Parcel Service, Inc., Class B                 | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |    111844 | NS      | $9636479.04   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial, Inc.                | Raymond James Financial, Inc.                        | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     30460 | NS      | $5090779.80   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp. (The)                      | Progressive Corp. (The)                              | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     94183 | NS      | $22796053.32  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies plc                       | Trane Technologies plc                               | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |     60281 | NS      | $26407900.48  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co., Inc.                    | Church & Dwight Co., Inc.                            | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |     45480 | NS      | $4264659.60   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill, Inc.                 | Chipotle Mexican Grill, Inc., Class A                | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    339410 | NS      | $14553900.80  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                           | Altria Group, Inc.                                   | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    106136 | NS      | $6574063.84   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     17318 | NC      | $1.73         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co.                                  | Deere & Co.                                          | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     39434 | NS      | $20678006.58  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group, Inc.                        | TransDigm Group, Inc.                                | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12625 | NS      | $20306807.50  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas, Inc.                                 | Ventas, Inc.                                         | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    228965 | NS      | $15381868.70  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.                       | Freeport-McMoRan, Inc.                               | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    129842 | NS      | $5224842.08   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                           | Southern Co. (The)                                   | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    301206 | NS      | $28457942.88  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI, Inc.                                   | MSCI, Inc.                                           | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      6359 | NS      | $3569688.24   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co. (The)                   | Sherwin-Williams Co. (The)                           | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     14591 | NS      | $4827870.08   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy, Inc.                     | Diamondback Energy, Inc.                             | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     53220 | NS      | $7911685.20   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                              | Citigroup, Inc.                                      | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    135530 | NS      | $12699161.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     17931 | NC      | $7620675.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                 | LyondellBasell Industries NV, Class A                | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | NL        |     85885 | NS      | $4975318.05   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone, Inc.                               | AutoZone, Inc.                                       | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      1393 | NS      | $5249353.34   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.                         | Otis Worldwide Corp.                                 | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |    181603 | NS      | $15561561.07  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                               | Broadcom, Inc.                                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    291264 | NS      | $85544236.80  | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp.                               | McKesson Corp.                                       | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      8193 | NS      | $5682173.22   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                         | Meta Platforms, Inc., Class A                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    159894 | NS      | $123668415.36 | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                | Medtronic plc                                        | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |    203941 | NS      | $18403635.84  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                  | Capital One Financial Corp.                          | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     69424 | NS      | $14926160.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp.                         | Carrier Global Corp.                                 | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |    269955 | NS      | $18524312.10  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX, Inc.                                    | WEX, Inc.                                            | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |      8527 | NS      | $1446861.36   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon plc                                      | Aon plc, Class A                                     | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Long             | EC               | CORP              | IE        |     39500 | NS      | $14050545.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International, Inc.            | Philip Morris International, Inc.                    | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     89386 | NS      | $14663773.30  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp.                               | Carnival Corp.                                       | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |    366208 | NS      | $10902012.16  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies, Inc.                  | Palantir Technologies, Inc., Class A                 | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     78359 | NS      | $12408147.65  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper, Inc.                       | Keurig Dr Pepper, Inc.                               | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    520430 | NS      | $16992039.50  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                                | Comcast Corp., Class A                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    495843 | NS      | $16476862.89  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions, Inc.                     | Motorola Solutions, Inc.                             | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     10314 | NS      | $4527639.72   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group, Inc.                          | Expedia Group, Inc.                                  | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52965 | NS      | $9545352.30   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                | Netflix, Inc.                                        | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     18907 | NS      | $21920775.80  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co.                     | Arthur J Gallagher & Co.                             | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     59516 | NS      | $17095971.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                   | US Bancorp                                           | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    229665 | NS      | $10325738.40  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                            | Wells Fargo & Co.                                    | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    453402 | NS      | $36557803.26  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -17931 | NC      | $-1595859.00  | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.        | Alexandria Real Estate Equities, Inc.                | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     15749 | NS      | $1203696.07   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo, Inc.                                | PepsiCo, Inc.                                        | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    191379 | NS      | $26394991.68  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                          | Fifth Third Bancorp                                  | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |    297916 | NS      | $12384368.12  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp.         | Cognizant Technology Solutions Corp., Class A        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |    193671 | NS      | $13897830.96  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.                     | Berkshire Hathaway, Inc., Class B                    | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |    101528 | NS      | $47909032.64  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries, Inc.                         | PPG Industries, Inc.                                 | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     70298 | NS      | $7416439.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay, Inc.                                 | Corpay, Inc.                                         | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     44452 | NS      | $14360218.60  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management, Inc.               | Apollo Global Management, Inc.                       | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |     61728 | NS      | $8970312.96   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.                 | Vertex Pharmaceuticals, Inc.                         | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     27668 | NS      | $12640679.16  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                            | Lowe's Cos., Inc.                                    | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |    134589 | NS      | $30090062.73  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                         | Analog Devices, Inc.                                 | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |    106893 | NS      | $24011374.59  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -17318 | NC      | $-1.73        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                | Chevron Corp.                                        | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56265 | NS      | $8532024.60   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group (The)                            | Cigna Group (The)                                    | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     46149 | NS      | $12339319.62  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings plc              | Seagate Technology Holdings plc                      | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | IE        |    129589 | NS      | $20346768.89  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                 | Zimmer Biomet Holdings, Inc.                         | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     12443 | NS      | $1140400.95   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines, Inc.                        | Delta Air Lines, Inc.                                | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |    110907 | NS      | $5901361.47   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                               | ConocoPhillips                                       | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    156933 | NS      | $14961992.22  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)                   | Charles Schwab Corp. (The)                           | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    303232 | NS      | $29634863.36  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                                 | Lennar Corp., Class A                                | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     30709 | NS      | $3444935.62   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp.                   | Edwards Lifesciences Corp.                           | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |    132109 | NS      | $10477564.79  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp.                                 | Vistra Corp.                                         | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     79647 | NS      | $16609585.38  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology, Inc.                      | Micron Technology, Inc.                              | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    148368 | NS      | $16192883.52  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand, Inc.                         | Ingersoll Rand, Inc.                                 | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |     69413 | NS      | $5874422.19   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co. (The)                          | Coca-Cola Co. (The)                                  | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    247248 | NS      | $16785666.72  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower, Inc.                              | Welltower, Inc.                                      | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     64871 | NS      | $10708255.97  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow, Inc.                             | ServiceNow, Inc.                                     | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     25372 | NS      | $23928840.64  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial, Inc.                   | Ameriprise Financial, Inc.                           | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     29223 | NS      | $15143066.37  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -17931 | NC      | $-37332342.00 | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue, Inc.                                 | Kenvue, Inc.                                         | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    247680 | NS      | $5310259.20   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                       | Truist Financial Corp.                               | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    134278 | NS      | $5869291.38   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -17931 | NC      | $-12533769.00 | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co. (The)                        | Walt Disney Co. (The)                                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    167204 | NS      | $19915668.44  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana, Inc.                                 | Humana, Inc.                                         | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     27891 | NS      | $6969124.17   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | Microsoft Corp.                                      | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    523501 | NS      | $279287783.50 | 8.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron, Inc.                                | Textron, Inc.                                        | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     87378 | NS      | $6795387.06   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | Bank of America Corp.                                | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    878120 | NS      | $41508732.40  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis, Inc.                               | Prologis, Inc.                                       | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     86451 | NS      | $9231237.78   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE, Inc.                                   | NIKE, Inc., Class B                                  | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     72591 | NS      | $5421821.79   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co.                         | Emerson Electric Co.                                 | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     46409 | NS      | $6752973.59   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co.                                       | 3M Co.                                               | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |    132188 | NS      | $19725093.36  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund   | JPMorgan U.S. Government Money Market Fund, Class IM | CUSIP: 4812C2270<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | STIV             | RF                | US        |  13003016 | NS      | $13003015.60  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -17931 | NC      | $-376551.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials, Inc.              | Martin Marietta Materials, Inc.                      | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      9781 | NS      | $5622901.28   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                    | RTX Corp.                                            | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    136785 | NS      | $21553212.45  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare, Inc.                         | HCA Healthcare, Inc.                                 | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     10165 | NS      | $3598308.35   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp.                                  | Masco Corp.                                          | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |    108245 | NS      | $7374731.85   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                           | State Street Corp.                                   | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     65728 | NS      | $7345104.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                 | Mondelez International, Inc., Class A                | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    315305 | NS      | $20397080.45  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie, Inc.                                 | AbbVie, Inc.                                         | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    198798 | NS      | $37576797.96  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group, Inc.                          | Omnicom Group, Inc.                                  | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     12242 | NS      | $882036.10    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR, Inc.                                 | PACCAR, Inc.                                         | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     85170 | NS      | $8411389.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                        | NXP Semiconductors NV                                | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |     94395 | NS      | $20178819.15  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp.                        | Western Digital Corp.                                | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     22619 | NS      | $1779889.11   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co.                             | Baker Hughes Co.                                     | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    193943 | NS      | $8737132.15   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.              | Regeneron Pharmaceuticals, Inc.                      | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     20362 | NS      | $11106656.52  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings, Inc.                       | Booking Holdings, Inc.                               | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      2021 | NS      | $11123705.26  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                         | United Rentals, Inc.                                 | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      6040 | NS      | $5332957.60   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources, Inc.                          | EOG Resources, Inc.                                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    171278 | NS      | $20556785.56  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | SPDR S&P 500 ETF Trust                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     17931 | NC      | $1398618.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group, Inc.                     | UnitedHealth Group, Inc.                             | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     82457 | NS      | $20577968.92  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.               | Thermo Fisher Scientific, Inc.                       | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     29148 | NS      | $13631936.64  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp.                                  | FedEx Corp.                                          | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     36402 | NS      | $8135482.98   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa, Inc.                                   | Visa, Inc., Class A                                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    145907 | NS      | $50406491.29  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                             | McDonald's Corp.                                     | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     98588 | NS      | $29583301.16  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings, Inc.                        | Leidos Holdings, Inc.                                | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     76339 | NS      | $12187521.35  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands, Inc.                            | Yum! Brands, Inc.                                    | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |    110071 | NS      | $15866734.65  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                 | Charter Communications, Inc., Class A                | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |     26799 | NS      | $7218578.64   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv plc                                    | Aptiv plc                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |     40632 | NS      | $2788980.48   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp.                                | Entergy Corp.                                        | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     27157 | NS      | $2455807.51   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                             | NRG Energy, Inc.                                     | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     13569 | NS      | $2268736.80   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast, Inc.                                  | Toast, Inc., Class A                                 | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |    118640 | NS      | $5794377.60   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores, Inc.                      | Burlington Stores, Inc.                              | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     38054 | NS      | $10387219.84  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments, Inc.                      | Texas Instruments, Inc.                              | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    118678 | NS      | $21487838.68  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce, Inc.                             | Salesforce, Inc.                                     | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    100181 | NS      | $25879757.73  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc.         | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |    200830 | NS      | $15947910.30  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                | Equinix, Inc.                                        | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     14627 | NS      | $11484681.59  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde plc                                    | Linde plc                                            | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | IE        |     53740 | NS      | $24734372.40  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** J.P. Morgan Exchange-Traded Fund Trust

**Signature:** Timothy J. Clemens

**Name of Signer:** Timothy J. Clemens

**Title:** Treasurer and Principal Financial Officer