# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0001752724-23-066054
**Filing Date:** 2023-3
**Character Count:** 341349
**Document Hash:** 483c519b2a150f97568ef3136bd11c46
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-066054.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-066054

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** J.P. Morgan Exchange-Traded Fund Trust
- **CENTRAL INDEX KEY:** 0001485894
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 23761645

**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 Diversified Return U.S. Small Cap Equity ETF (Series ID: S000055014)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000173015 | JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPSE            |

## Nport-Ex

**JPMorgan Diversified Return U.S. Small Cap Equity ETF**

**Schedule of Portfolio Investments as of January 31, 2023**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED MUTUAL FUNDS HOLDINGS" LIST ("the <br> List") IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS <br> NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR <br> SALES LITERATURE WITH THE GENERAL PUBLIC. The list is <br> submitted for the general information of the shareholders of the Fund. <br> It is not authorized for distribution to prospective investors in the Fund <br> unless preceded or accompanied by a prospectus. The list has been <br> created from the books and records of the Fund. Holdings are <br> available 60 days after the fund's fiscal quarter, using a trade date <br> accounting convention, by contacting the appropriate service center. <br> The list is subject to change without notice. The list is for <br> 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., 2023. |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — 99.8%** | **Common Stocks — 99.8%** | **Common Stocks — 99.8%** |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| &nbsp;&nbsp;&nbsp; Moog, Inc., Class A | 1918 | 182824 |
| &nbsp;&nbsp;&nbsp; National Presto Industries, Inc. | 2336 | 178961 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361785 |
| **Automobiles & Parts — 0.5%** | **Automobiles & Parts — 0.5%** | **Automobiles & Parts — 0.5%** |
| &nbsp;&nbsp;&nbsp; Dorman Products, Inc. \* | 6101 | 592163 |
| &nbsp;&nbsp;&nbsp; Gentherm, Inc. \* | 13625 | 1014109 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1606272 |
| **Banks — 4.8%** | **Banks — 4.8%** | **Banks — 4.8%** |
| &nbsp;&nbsp;&nbsp; 1st Source Corp. | 2236 | 109989 |
| &nbsp;&nbsp;&nbsp; Ameris Bancorp | 15269 | 720086 |
| &nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp. | 9542 | 369180 |
| &nbsp;&nbsp;&nbsp; Axos Financial, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130213 |
| &nbsp;&nbsp;&nbsp; BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141770 |
| &nbsp;&nbsp;&nbsp; Bank of NT Butterfield & Son Ltd. (The) (Bermuda) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478154 |
| &nbsp;&nbsp;&nbsp; Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358510 |
| &nbsp;&nbsp;&nbsp; Brookline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176109 |
| &nbsp;&nbsp;&nbsp; Capital City Bank Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28411 |
| &nbsp;&nbsp;&nbsp; Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672016 |
| &nbsp;&nbsp;&nbsp; Community Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174129 |
| &nbsp;&nbsp;&nbsp; First BanCorp (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362531 |
| &nbsp;&nbsp;&nbsp; First Busey Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83521 |
| &nbsp;&nbsp;&nbsp; First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242813 |
| &nbsp;&nbsp;&nbsp; First Financial Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96673 |
| &nbsp;&nbsp;&nbsp; First Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108033 |
| &nbsp;&nbsp;&nbsp; First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200664 |
| &nbsp;&nbsp;&nbsp; Fulton Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459640 |
| &nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488391 |
| &nbsp;&nbsp;&nbsp; Hilltop Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31573 | &nbsp;&nbsp;&nbsp;&nbsp; 1032437 |
| &nbsp;&nbsp;&nbsp; Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57932 |
| &nbsp;&nbsp;&nbsp; Hope Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592128 |
| &nbsp;&nbsp;&nbsp; Independent Bank Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408135 |
| &nbsp;&nbsp;&nbsp; Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241475 |
| &nbsp;&nbsp;&nbsp; NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280752 |
| &nbsp;&nbsp;&nbsp; Northwest Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195372 |
| &nbsp;&nbsp;&nbsp; OceanFirst Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584557 |
| &nbsp;&nbsp;&nbsp; OFG Bancorp (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333265 |
| &nbsp;&nbsp;&nbsp; Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893550 |
| &nbsp;&nbsp;&nbsp; Renasant Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416073 |
| &nbsp;&nbsp;&nbsp; Republic Bancorp, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123605 |
| &nbsp;&nbsp;&nbsp; Sandy Spring Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134997 |
| &nbsp;&nbsp;&nbsp; Simmons First National Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522612 |
| &nbsp;&nbsp;&nbsp; TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172907 |
| &nbsp;&nbsp;&nbsp; Trustmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529576 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830740 |
| &nbsp;&nbsp;&nbsp; United Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 914590 |
| &nbsp;&nbsp;&nbsp; United Community Banks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446351 |
| &nbsp;&nbsp;&nbsp; Valley National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915663 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Banks — continued** | **Banks — continued** | **Banks — continued** |
| &nbsp;&nbsp;&nbsp; Washington Federal, Inc. | 11486 | 407294 |
| &nbsp;&nbsp;&nbsp; WesBanco, Inc. | 14762 | 548704 |
|  |  | &nbsp;&nbsp; 15983548 |
| **Beverages — 1.4%** | **Beverages — 1.4%** | **Beverages — 1.4%** |
| &nbsp;&nbsp;&nbsp; BRC, Inc., Class A \* (a) | 24162 | 159469 |
| &nbsp;&nbsp;&nbsp; Celsius Holdings, Inc. \* (a) | 8887 | 891544 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 1708 | 865580 |
| &nbsp;&nbsp;&nbsp; Duckhorn Portfolio, Inc. (The) \* | 34126 | 552159 |
| &nbsp;&nbsp;&nbsp; MGP Ingredients, Inc. (a) | 7800 | 760812 |
| &nbsp;&nbsp;&nbsp; National Beverage Corp. \* | 16821 | 743488 |
| &nbsp;&nbsp;&nbsp; Primo Water Corp. | 49558 | 775583 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4748635 |
| **Chemicals — 3.7%** | **Chemicals — 3.7%** | **Chemicals — 3.7%** |
| &nbsp;&nbsp;&nbsp; AdvanSix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 787573 |
| &nbsp;&nbsp;&nbsp; American Vanguard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 538229 |
| &nbsp;&nbsp;&nbsp; Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 841844 |
| &nbsp;&nbsp;&nbsp; Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 905135 |
| &nbsp;&nbsp;&nbsp; Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 997671 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12464 | &nbsp;&nbsp;&nbsp;&nbsp; 1027532 |
| &nbsp;&nbsp;&nbsp; Innospec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 994463 |
| &nbsp;&nbsp;&nbsp; Intrepid Potash, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 561090 |
| &nbsp;&nbsp;&nbsp; Livent Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 754635 |
| &nbsp;&nbsp;&nbsp; LSB Industries, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803793 |
| &nbsp;&nbsp;&nbsp; Orion Engineered Carbons SA (Germany) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763930 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402402 |
| &nbsp;&nbsp;&nbsp; Rayonier Advanced Materials, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461968 |
| &nbsp;&nbsp;&nbsp; Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 888979 |
| &nbsp;&nbsp;&nbsp; Stepan Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 801503 |
| &nbsp;&nbsp;&nbsp; Tronox Holdings plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 882813 |
|  |  | &nbsp;&nbsp; 12413560 |
| **Construction & Materials — 1.7%** | **Construction & Materials — 1.7%** | **Construction & Materials — 1.7%** |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 931645 |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946131 |
| &nbsp;&nbsp;&nbsp; Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647643 |
| &nbsp;&nbsp;&nbsp; GMS, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 561226 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281704 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487038 |
| &nbsp;&nbsp;&nbsp; Masonite International Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414595 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77431 |
| &nbsp;&nbsp;&nbsp; Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377205 |
| &nbsp;&nbsp;&nbsp; Quanex Building Products Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181722 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 843813 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5750153 |
| **Consumer Services — 0.7%** | **Consumer Services — 0.7%** | **Consumer Services — 0.7%** |
| &nbsp;&nbsp;&nbsp; Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101313 |
| &nbsp;&nbsp;&nbsp; Contra A/S (Denmark) ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Consumer Services — continued** | **Consumer Services — continued** | **Consumer Services — continued** |
| &nbsp;&nbsp;&nbsp; Laureate Education, Inc., Class A | 63736 | 699821 |
| &nbsp;&nbsp;&nbsp; Perdoceo Education Corp. \* | 43515 | 651420 |
| &nbsp;&nbsp;&nbsp; Rent-A-Center, Inc. | 18890 | 507952 |
| &nbsp;&nbsp;&nbsp; Strategic Education, Inc. | 2466 | 230201 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2190707 |
| **Electricity — 1.9%** | **Electricity — 1.9%** | **Electricity — 1.9%** |
| &nbsp;&nbsp;&nbsp; ALLETE, Inc. | 14741 | 911878 |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc., Class C | 27531 | 930273 |
| &nbsp;&nbsp;&nbsp; MGE Energy, Inc. | 8274 | 604912 |
| &nbsp;&nbsp;&nbsp; NorthWestern Corp. | 16703 | 948730 |
| &nbsp;&nbsp;&nbsp; NuScale Power Corp. \* (a) | 14139 | 150722 |
| &nbsp;&nbsp;&nbsp; Ormat Technologies, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 758262 |
| &nbsp;&nbsp;&nbsp; PNM Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 976834 |
| &nbsp;&nbsp;&nbsp; Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 942988 |
| &nbsp;&nbsp;&nbsp; Via Renewables, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198489 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6423088 |
| **Electronic & Electrical Equipment — 1.4%** | **Electronic & Electrical Equipment — 1.4%** | **Electronic & Electrical Equipment — 1.4%** |
| &nbsp;&nbsp;&nbsp; Atkore, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7987 | &nbsp;&nbsp;&nbsp;&nbsp; 1040307 |
| &nbsp;&nbsp;&nbsp; AZZ, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298932 |
| &nbsp;&nbsp;&nbsp; Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 988627 |
| &nbsp;&nbsp;&nbsp; Brady Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400490 |
| &nbsp;&nbsp;&nbsp; Encore Wire Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6766 | &nbsp;&nbsp;&nbsp;&nbsp; 1092235 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 958227 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4778818 |
| **Finance & Credit Services — 1.7%** | **Finance & Credit Services — 1.7%** | **Finance & Credit Services — 1.7%** |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417343 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 587333 |
| &nbsp;&nbsp;&nbsp; Mr. Cooper Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21896 | &nbsp;&nbsp;&nbsp;&nbsp; 1006997 |
| &nbsp;&nbsp;&nbsp; Navient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58888 | &nbsp;&nbsp;&nbsp;&nbsp; 1117106 |
| &nbsp;&nbsp;&nbsp; Nelnet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341472 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15410 | &nbsp;&nbsp;&nbsp;&nbsp; 1038942 |
| &nbsp;&nbsp;&nbsp; Radian Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 908531 |
| &nbsp;&nbsp;&nbsp; Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5642630 |
| **Food Producers — 3.9%** | **Food Producers — 3.9%** | **Food Producers — 3.9%** |
| &nbsp;&nbsp;&nbsp; Andersons, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635448 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405851 |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 793428 |
| &nbsp;&nbsp;&nbsp; Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970451 |
| &nbsp;&nbsp;&nbsp; Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 699098 |
| &nbsp;&nbsp;&nbsp; GrowGeneration Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190471 |
| &nbsp;&nbsp;&nbsp; Hain Celestial Group, Inc. (The) \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427473 |
| &nbsp;&nbsp;&nbsp; Herbalife Nutrition Ltd. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523428 |
| &nbsp;&nbsp;&nbsp; Hostess Brands, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 854260 |
| &nbsp;&nbsp;&nbsp; J & J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 751465 |
| &nbsp;&nbsp;&nbsp; John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 611430 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Food Producers — continued** | **Food Producers — continued** | **Food Producers — continued** |
| &nbsp;&nbsp;&nbsp; Lancaster Colony Corp. | 4768 | 915027 |
| &nbsp;&nbsp;&nbsp; Medifast, Inc. | 4968 | 553684 |
| &nbsp;&nbsp;&nbsp; Nature's Sunshine Products, Inc. \* | 8602 | 90837 |
| &nbsp;&nbsp;&nbsp; Simply Good Foods Co. (The) \* | 24549 | 891129 |
| &nbsp;&nbsp;&nbsp; Sovos Brands, Inc. \* | 12483 | 169269 |
| &nbsp;&nbsp;&nbsp; SunOpta, Inc. (Canada) \* (a) | 51709 | 422463 |
| &nbsp;&nbsp;&nbsp; Tootsie Roll Industries, Inc. | 21606 | 966436 |
| &nbsp;&nbsp;&nbsp; TreeHouse Foods, Inc. \* | 19743 | 956153 |
| &nbsp;&nbsp;&nbsp; USANA Health Sciences, Inc. \* | 8497 | 496565 |
| &nbsp;&nbsp;&nbsp; Utz Brands, Inc. (a) | 44702 | 744735 |
|  |  | &nbsp;&nbsp; 13069101 |
| **Gas, Water & Multi-utilities — 3.9%** | **Gas, Water & Multi-utilities — 3.9%** | **Gas, Water & Multi-utilities — 3.9%** |
| &nbsp;&nbsp;&nbsp; American States Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949610 |
| &nbsp;&nbsp;&nbsp; Aris Water Solution, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281143 |
| &nbsp;&nbsp;&nbsp; Avista Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 760574 |
| &nbsp;&nbsp;&nbsp; Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986105 |
| &nbsp;&nbsp;&nbsp; Brookfield Infrastructure Corp., Class A (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 921987 |
| &nbsp;&nbsp;&nbsp; California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 768479 |
| &nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 692557 |
| &nbsp;&nbsp;&nbsp; Evoqua Water Technologies Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22740 | &nbsp;&nbsp;&nbsp;&nbsp; 1103117 |
| &nbsp;&nbsp;&nbsp; Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443376 |
| &nbsp;&nbsp;&nbsp; Middlesex Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 484040 |
| &nbsp;&nbsp;&nbsp; New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 991012 |
| &nbsp;&nbsp;&nbsp; Northwest Natural Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 698049 |
| &nbsp;&nbsp;&nbsp; ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 923997 |
| &nbsp;&nbsp;&nbsp; SJW Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705205 |
| &nbsp;&nbsp;&nbsp; South Jersey Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 627533 |
| &nbsp;&nbsp;&nbsp; Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721238 |
| &nbsp;&nbsp;&nbsp; Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951065 |
|  |  | &nbsp;&nbsp; 13009087 |
| **General Industrials — 1.4%** | **General Industrials — 1.4%** | **General Industrials — 1.4%** |
| &nbsp;&nbsp;&nbsp; Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349286 |
| &nbsp;&nbsp;&nbsp; Barnes Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176288 |
| &nbsp;&nbsp;&nbsp; CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346273 |
| &nbsp;&nbsp;&nbsp; Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660442 |
| &nbsp;&nbsp;&nbsp; HB Fuller Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850621 |
| &nbsp;&nbsp;&nbsp; Kronos Worldwide, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295246 |
| &nbsp;&nbsp;&nbsp; Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169764 |
| &nbsp;&nbsp;&nbsp; Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785388 |
| &nbsp;&nbsp;&nbsp; Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292623 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95172 |
| &nbsp;&nbsp;&nbsp; Trinseo plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 607447 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4628550 |
| **Health Care Providers — 2.6%** | **Health Care Providers — 2.6%** | **Health Care Providers — 2.6%** |
| &nbsp;&nbsp;&nbsp; Addus HomeCare Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634583 |
| &nbsp;&nbsp;&nbsp; Apollo Medical Holdings, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628583 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Health Care Providers — continued** | **Health Care Providers — continued** | **Health Care Providers — continued** |
| &nbsp;&nbsp;&nbsp; Brookdale Senior Living, Inc. \* | 13099 | 37725 |
| &nbsp;&nbsp;&nbsp; Computer Programs and Systems, Inc. \* | 6242 | 183390 |
| &nbsp;&nbsp;&nbsp; CorVel Corp. \* | 3799 | 676830 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. (The) | 10399 | 969707 |
| &nbsp;&nbsp;&nbsp; Healthcare Services Group, Inc. | 12396 | 166974 |
| &nbsp;&nbsp;&nbsp; LHC Group, Inc. \* | 5150 | 816790 |
| &nbsp;&nbsp;&nbsp; ModivCare, Inc. \* | 5458 | 585425 |
| &nbsp;&nbsp;&nbsp; NextGen Healthcare, Inc. \* | 27171 | 516793 |
| &nbsp;&nbsp;&nbsp; Omnicell, Inc. \* | 5987 | 332099 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc. \* | 30262 | 873664 |
| &nbsp;&nbsp;&nbsp; Pennant Group, Inc. (The) \* | 12746 | 164933 |
| &nbsp;&nbsp;&nbsp; RadNet, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220309 |
| &nbsp;&nbsp;&nbsp; Select Medical Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 793233 |
| &nbsp;&nbsp;&nbsp; Surgery Partners, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717087 |
| &nbsp;&nbsp;&nbsp; US Physical Therapy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260665 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8578790 |
| **Household Goods & Home Construction — 1.7%** | **Household Goods & Home Construction — 1.7%** | **Household Goods & Home Construction — 1.7%** |
| &nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127015 |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451861 |
| &nbsp;&nbsp;&nbsp; CompX International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43865 |
| &nbsp;&nbsp;&nbsp; Ethan Allen Interiors, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 842916 |
| &nbsp;&nbsp;&nbsp; HNI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475152 |
| &nbsp;&nbsp;&nbsp; Interface, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 428935 |
| &nbsp;&nbsp;&nbsp; La-Z-Boy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 709755 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213696 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643089 |
| &nbsp;&nbsp;&nbsp; MDC Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237964 |
| &nbsp;&nbsp;&nbsp; MillerKnoll, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 394426 |
| &nbsp;&nbsp;&nbsp; Sleep Number Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70513 |
| &nbsp;&nbsp;&nbsp; Steelcase, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211708 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544196 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245773 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5640864 |
| **Industrial Engineering — 1.3%** | **Industrial Engineering — 1.3%** | **Industrial Engineering — 1.3%** |
| &nbsp;&nbsp;&nbsp; Albany International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495591 |
| &nbsp;&nbsp;&nbsp; Astec Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120899 |
| &nbsp;&nbsp;&nbsp; Columbus McKinnon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314455 |
| &nbsp;&nbsp;&nbsp; EnPro Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647361 |
| &nbsp;&nbsp;&nbsp; Franklin Electric Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 895234 |
| &nbsp;&nbsp;&nbsp; Hillenbrand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 823705 |
| &nbsp;&nbsp;&nbsp; John Bean Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157651 |
| &nbsp;&nbsp;&nbsp; Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134720 |
| &nbsp;&nbsp;&nbsp; Titan Machinery, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 207880 |
| &nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332819 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4130315 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Industrial Materials — 2.3%** | **Industrial Materials — 2.3%** | **Industrial Materials — 2.3%** |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. | 13339 | 1000025 |
| &nbsp;&nbsp;&nbsp; Clearwater Paper Corp. \* | 16497 | 636949 |
| &nbsp;&nbsp;&nbsp; Koppers Holdings, Inc. | 17753 | 614431 |
| &nbsp;&nbsp;&nbsp; Materion Corp. | 10965 | 989591 |
| &nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. | 33672 | 928000 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. | 13032 | 905073 |
| &nbsp;&nbsp;&nbsp; Resolute Forest Products, Inc. \* | 23444 | 508969 |
| &nbsp;&nbsp;&nbsp; Sylvamo Corp. | 18041 | 857489 |
| &nbsp;&nbsp;&nbsp; Tredegar Corp. | 13506 | 163828 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 12074 | 1129523 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7733878 |
| **Industrial Metals & Mining — 4.0%** | **Industrial Metals & Mining — 4.0%** | **Industrial Metals & Mining — 4.0%** |
| &nbsp;&nbsp;&nbsp; Arconic Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40719 |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23762 | &nbsp;&nbsp;&nbsp;&nbsp; 1147467 |
| &nbsp;&nbsp;&nbsp; Century Aluminum Co. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406933 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20073 | &nbsp;&nbsp;&nbsp;&nbsp; 1089362 |
| &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 918409 |
| &nbsp;&nbsp;&nbsp; Constellium SE \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 640817 |
| &nbsp;&nbsp;&nbsp; Energy Fuels, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165213 |
| &nbsp;&nbsp;&nbsp; GrafTech International Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 118625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 775807 |
| &nbsp;&nbsp;&nbsp; Haynes International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584467 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499827 |
| &nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 929433 |
| &nbsp;&nbsp;&nbsp; Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 313927 |
| &nbsp;&nbsp;&nbsp; Piedmont Lithium, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 746460 |
| &nbsp;&nbsp;&nbsp; RBC Bearings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4130 | &nbsp;&nbsp;&nbsp;&nbsp; 1007596 |
| &nbsp;&nbsp;&nbsp; Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691373 |
| &nbsp;&nbsp;&nbsp; Schnitzer Steel Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672841 |
| &nbsp;&nbsp;&nbsp; TimkenSteel Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765438 |
| &nbsp;&nbsp;&nbsp; US Silica Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 794768 |
| &nbsp;&nbsp;&nbsp; Worthington Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 937388 |
|  |  | &nbsp;&nbsp; 13128245 |
| **Industrial Support Services — 2.4%** | **Industrial Support Services — 2.4%** | **Industrial Support Services — 2.4%** |
| &nbsp;&nbsp;&nbsp; ABM Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575914 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7457 | &nbsp;&nbsp;&nbsp;&nbsp; 1067917 |
| &nbsp;&nbsp;&nbsp; ASGN, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717323 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc., REIT \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512348 |
| &nbsp;&nbsp;&nbsp; CRA International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 464427 |
| &nbsp;&nbsp;&nbsp; DXP Enterprises, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39329 |
| &nbsp;&nbsp;&nbsp; EVERTEC, Inc. (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396662 |
| &nbsp;&nbsp;&nbsp; ExlService Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 843446 |
| &nbsp;&nbsp;&nbsp; Forrester Research, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167215 |
| &nbsp;&nbsp;&nbsp; Heidrick & Struggles International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179331 |
| &nbsp;&nbsp;&nbsp; Insperity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518369 |
| &nbsp;&nbsp;&nbsp; Korn Ferry | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 372477 |
| &nbsp;&nbsp;&nbsp; Maximus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963918 |
| &nbsp;&nbsp;&nbsp; Pitney Bowes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212056 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Industrial Support Services — continued** | **Industrial Support Services — continued** | **Industrial Support Services — continued** |
| &nbsp;&nbsp;&nbsp; Resources Connection, Inc. | 6268 | 108248 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc. \* | 7454 | 562404 |
| &nbsp;&nbsp;&nbsp; TrueBlue, Inc. \* | 4576 | 89827 |
| &nbsp;&nbsp;&nbsp; TTEC Holdings, Inc. | 2019 | 102646 |
| &nbsp;&nbsp;&nbsp; UniFirst Corp. | 33 | 6549 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7900406 |
| **Industrial Transportation — 2.8%** | **Industrial Transportation — 2.8%** | **Industrial Transportation — 2.8%** |
| &nbsp;&nbsp;&nbsp; ArcBest Corp. | 7493 | 625291 |
| &nbsp;&nbsp;&nbsp; Atlas Air Worldwide Holdings, Inc. \* (a) | 9359 | 956583 |
| &nbsp;&nbsp;&nbsp; Costamare, Inc. (Monaco) | 23155 | 235023 |
| &nbsp;&nbsp;&nbsp; DHT Holdings, Inc. | 96246 | 824828 |
| &nbsp;&nbsp;&nbsp; Federal Signal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472487 |
| &nbsp;&nbsp;&nbsp; Forward Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 608274 |
| &nbsp;&nbsp;&nbsp; Frontline plc (Norway) (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 813951 |
| &nbsp;&nbsp;&nbsp; GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 577629 |
| &nbsp;&nbsp;&nbsp; Genco Shipping & Trading Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382591 |
| &nbsp;&nbsp;&nbsp; Hub Group, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180261 |
| &nbsp;&nbsp;&nbsp; Matson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 718063 |
| &nbsp;&nbsp;&nbsp; McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 448129 |
| &nbsp;&nbsp;&nbsp; Saia, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4017 | &nbsp;&nbsp;&nbsp;&nbsp; 1095757 |
| &nbsp;&nbsp;&nbsp; Scorpio Tankers, Inc. (Monaco) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 206703 |
| &nbsp;&nbsp;&nbsp; Triton International Ltd. (Bermuda) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14633 | &nbsp;&nbsp;&nbsp;&nbsp; 1033675 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185318 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9364563 |
| **Investment Banking & Brokerage Services — 1.4%** | **Investment Banking & Brokerage Services — 1.4%** | **Investment Banking & Brokerage Services — 1.4%** |
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860446 |
| &nbsp;&nbsp;&nbsp; Brightsphere Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447590 |
| &nbsp;&nbsp;&nbsp; Cohen & Steers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203365 |
| &nbsp;&nbsp;&nbsp; Cowen, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951627 |
| &nbsp;&nbsp;&nbsp; Federated Hermes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 892582 |
| &nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652673 |
| &nbsp;&nbsp;&nbsp; Moelis & Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648142 |
| &nbsp;&nbsp;&nbsp; Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22992 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4679417 |
| **Leisure Goods — 0.9%** | **Leisure Goods — 0.9%** | **Leisure Goods — 0.9%** |
| &nbsp;&nbsp;&nbsp; Camping World Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 655908 |
| &nbsp;&nbsp;&nbsp; Fox Factory Holding Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59754 |
| &nbsp;&nbsp;&nbsp; LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480189 |
| &nbsp;&nbsp;&nbsp; Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695824 |
| &nbsp;&nbsp;&nbsp; Sturm Ruger & Co., Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899020 |
| &nbsp;&nbsp;&nbsp; Universal Electronics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2954729 |
| **Life Insurance — 1.0%** | **Life Insurance — 1.0%** | **Life Insurance — 1.0%** |
| &nbsp;&nbsp;&nbsp; American Equity Investment Life Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 803188 |
| &nbsp;&nbsp;&nbsp; CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41560 | &nbsp;&nbsp;&nbsp;&nbsp; 1070585 |
| &nbsp;&nbsp;&nbsp; Genworth Financial, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353777 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Life Insurance — continued** | **Life Insurance — continued** | **Life Insurance — continued** |
| &nbsp;&nbsp;&nbsp; Jackson Financial, Inc., Class A | 24669 | 1086423 |
| &nbsp;&nbsp;&nbsp; National Western Life Group, Inc., Class A | 306 | 84701 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3398674 |
| **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc. | 22501 | 291613 |
| &nbsp;&nbsp;&nbsp; QuinStreet, Inc. \* | 4922 | 75454 |
| &nbsp;&nbsp;&nbsp; Scholastic Corp. | 4600 | 203504 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. | 49433 | 985200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1555771 |
| **Medical Equipment & Services — 3.4%** | **Medical Equipment & Services — 3.4%** | **Medical Equipment & Services — 3.4%** |
| &nbsp;&nbsp;&nbsp; AdaptHealth Corp. \* | 24556 | 526235 |
| &nbsp;&nbsp;&nbsp; Anika Therapeutics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97185 |
| &nbsp;&nbsp;&nbsp; AtriCure, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522260 |
| &nbsp;&nbsp;&nbsp; Atrion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222685 |
| &nbsp;&nbsp;&nbsp; Avanos Medical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279866 |
| &nbsp;&nbsp;&nbsp; CONMED Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 789062 |
| &nbsp;&nbsp;&nbsp; Fulgent Genetics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 486668 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645329 |
| &nbsp;&nbsp;&nbsp; Inogen, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54056 |
| &nbsp;&nbsp;&nbsp; Integer Holdings Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 629802 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 684078 |
| &nbsp;&nbsp;&nbsp; Meridian Bioscience, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986578 |
| &nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 978851 |
| &nbsp;&nbsp;&nbsp; Neogen Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517972 |
| &nbsp;&nbsp;&nbsp; NeoGenomics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353810 |
| &nbsp;&nbsp;&nbsp; OraSure Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351294 |
| &nbsp;&nbsp;&nbsp; Orthofix Medical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111503 |
| &nbsp;&nbsp;&nbsp; Owens & Minor, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510496 |
| &nbsp;&nbsp;&nbsp; Patterson Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 981839 |
| &nbsp;&nbsp;&nbsp; STAAR Surgical Co. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566164 |
| &nbsp;&nbsp;&nbsp; Surmodics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159665 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 558267 |
| &nbsp;&nbsp;&nbsp; Zynex, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130561 |
|  |  | &nbsp;&nbsp; 11144226 |
| **Mortgage Real Estate Investment Trusts — 1.6%** | **Mortgage Real Estate Investment Trusts — 1.6%** | **Mortgage Real Estate Investment Trusts — 1.6%** |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433763 |
| &nbsp;&nbsp;&nbsp; Arbor Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 514966 |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546580 |
| &nbsp;&nbsp;&nbsp; Dynex Capital, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162804 |
| &nbsp;&nbsp;&nbsp; Ellington Financial, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659438 |
| &nbsp;&nbsp;&nbsp; iStar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344381 |
| &nbsp;&nbsp;&nbsp; KKR Real Estate Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622815 |
| &nbsp;&nbsp;&nbsp; Ladder Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390981 |
| &nbsp;&nbsp;&nbsp; MFA Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362954 |
| &nbsp;&nbsp;&nbsp; New York Mortgage Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276335 |
| &nbsp;&nbsp;&nbsp; PennyMac Mortgage Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169458 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Mortgage Real Estate Investment Trusts — continued** | **Mortgage Real Estate Investment Trusts — continued** | **Mortgage Real Estate Investment Trusts — continued** |
| &nbsp;&nbsp;&nbsp; Ready Capital Corp. (a) | 28154 | 372477 |
| &nbsp;&nbsp;&nbsp; Redwood Trust, Inc. | 53013 | 443189 |
| &nbsp;&nbsp;&nbsp; TPG RE Finance Trust, Inc. | 12392 | 107934 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5408075 |
| **Non-life Insurance — 1.1%** | **Non-life Insurance — 1.1%** | **Non-life Insurance — 1.1%** |
| &nbsp;&nbsp;&nbsp; Employers Holdings, Inc. | 9141 | 401016 |
| &nbsp;&nbsp;&nbsp; Enstar Group Ltd. \* | 886 | 214678 |
| &nbsp;&nbsp;&nbsp; Essent Group Ltd. | 7794 | 343170 |
| &nbsp;&nbsp;&nbsp; Horace Mann Educators Corp. | 7338 | 261306 |
| &nbsp;&nbsp;&nbsp; RLI Corp. | 3531 | 467681 |
| &nbsp;&nbsp;&nbsp; Safety Insurance Group, Inc. | 3775 | 318572 |
| &nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707465 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3506201 |
| **Non-Renewable Energy — 5.9%** | **Non-Renewable Energy — 5.9%** | **Non-Renewable Energy — 5.9%** |
| &nbsp;&nbsp;&nbsp; Alpha Metallurgical Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 664963 |
| &nbsp;&nbsp;&nbsp; Arch Resources, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 633822 |
| &nbsp;&nbsp;&nbsp; Archrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925435 |
| &nbsp;&nbsp;&nbsp; Berry Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431498 |
| &nbsp;&nbsp;&nbsp; Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 983882 |
| &nbsp;&nbsp;&nbsp; ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 703227 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 815570 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 706106 |
| &nbsp;&nbsp;&nbsp; CONSOL Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727848 |
| &nbsp;&nbsp;&nbsp; CVR Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632925 |
| &nbsp;&nbsp;&nbsp; DMC Global, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130846 |
| &nbsp;&nbsp;&nbsp; Helix Energy Solutions Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 701194 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804888 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 972420 |
| &nbsp;&nbsp;&nbsp; MRC Global, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325040 |
| &nbsp;&nbsp;&nbsp; Nabors Industries Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659916 |
| &nbsp;&nbsp;&nbsp; Newpark Resources, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17098 |
| &nbsp;&nbsp;&nbsp; Northern Oil and Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404285 |
| &nbsp;&nbsp;&nbsp; NOW, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503545 |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915818 |
| &nbsp;&nbsp;&nbsp; PBF Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 845007 |
| &nbsp;&nbsp;&nbsp; Permian Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97396 | &nbsp;&nbsp;&nbsp;&nbsp; 1058695 |
| &nbsp;&nbsp;&nbsp; ProPetro Holding Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407781 |
| &nbsp;&nbsp;&nbsp; Ranger Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 812658 |
| &nbsp;&nbsp;&nbsp; RPC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255708 |
| &nbsp;&nbsp;&nbsp; SandRidge Energy, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 469083 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643660 |
| &nbsp;&nbsp;&nbsp; Solaris Oilfield Infrastructure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502718 |
| &nbsp;&nbsp;&nbsp; SunCoke Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 730267 |
| &nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 506607 |
| &nbsp;&nbsp;&nbsp; World Fuel Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 820841 |
|  |  | &nbsp;&nbsp; 19713351 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Personal Care, Drug & Grocery Stores — 2.9%** | **Personal Care, Drug & Grocery Stores — 2.9%** | **Personal Care, Drug & Grocery Stores — 2.9%** |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. | 67494 | 428587 |
| &nbsp;&nbsp;&nbsp; Beauty Health Co. (The) \* (a) | 2894 | 32992 |
| &nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc. (The) \* | 22075 | 843927 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. | 21015 | 900703 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. | 22406 | 831262 |
| &nbsp;&nbsp;&nbsp; Ingles Markets, Inc., Class A | 9646 | 916370 |
| &nbsp;&nbsp;&nbsp; Nu Skin Enterprises, Inc., Class A | 16635 | 713309 |
| &nbsp;&nbsp;&nbsp; PetMed Express, Inc. (a) | 30658 | 658534 |
| &nbsp;&nbsp;&nbsp; PLBY Group, Inc. \* (a) | 10410 | 30397 |
| &nbsp;&nbsp;&nbsp; Rite Aid Corp. \* (a) | 58621 | 213967 |
| &nbsp;&nbsp;&nbsp; SpartanNash Co. | 30088 | 953188 |
| &nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 920352 |
| &nbsp;&nbsp;&nbsp; United Natural Foods, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851670 |
| &nbsp;&nbsp;&nbsp; Veru, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351527 |
| &nbsp;&nbsp;&nbsp; WD-40 Co. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695367 |
| &nbsp;&nbsp;&nbsp; Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355462 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9697614 |
| **Personal Goods — 0.9%** | **Personal Goods — 0.9%** | **Personal Goods — 0.9%** |
| &nbsp;&nbsp;&nbsp; Movado Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491362 |
| &nbsp;&nbsp;&nbsp; Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 846563 |
| &nbsp;&nbsp;&nbsp; Signet Jewelers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 990849 |
| &nbsp;&nbsp;&nbsp; Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529182 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2857956 |
| **Pharmaceuticals, Biotechnology & Marijuana Producers — 4.2%** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 4.2%** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 4.2%** |
| &nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 649107 |
| &nbsp;&nbsp;&nbsp; ANI Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284528 |
| &nbsp;&nbsp;&nbsp; Arcus Biosciences, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202003 |
| &nbsp;&nbsp;&nbsp; Arrowhead Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644936 |
| &nbsp;&nbsp;&nbsp; Arvinas, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327077 |
| &nbsp;&nbsp;&nbsp; Castle Biosciences, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247078 |
| &nbsp;&nbsp;&nbsp; Catalyst Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911401 |
| &nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585524 |
| &nbsp;&nbsp;&nbsp; CONTRA LIGAND PHARMACE ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 588256 |
| &nbsp;&nbsp;&nbsp; Dynavax Technologies Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 591612 |
| &nbsp;&nbsp;&nbsp; Eagle Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149472 |
| &nbsp;&nbsp;&nbsp; Emergent BioSolutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118275 |
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893343 |
| &nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420958 |
| &nbsp;&nbsp;&nbsp; Heska Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171099 |
| &nbsp;&nbsp;&nbsp; Innoviva, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548238 |
| &nbsp;&nbsp;&nbsp; Ironwood Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511764 |
| &nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288488 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4652 | &nbsp;&nbsp;&nbsp;&nbsp; 1028418 |
| &nbsp;&nbsp;&nbsp; Myriad Genetics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299014 |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84419 |
| &nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 566509 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Pharmaceuticals, Biotechnology & Marijuana Producers — continued** | **Pharmaceuticals, Biotechnology & Marijuana Producers — continued** | **Pharmaceuticals, Biotechnology & Marijuana Producers — continued** |
| &nbsp;&nbsp;&nbsp; PDL BioPharma, Inc. ‡ \* | 22361 | 50536 |
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc. \* | 15575 | 1024212 |
| &nbsp;&nbsp;&nbsp; Prothena Corp. plc (Ireland) \* | 15598 | 882067 |
| &nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc. \* | 23381 | 958855 |
| &nbsp;&nbsp;&nbsp; Travere Therapeutics, Inc. \* | 14288 | 320051 |
| &nbsp;&nbsp;&nbsp; Vanda Pharmaceuticals, Inc. \* | 25006 | 192046 |
| &nbsp;&nbsp;&nbsp; Xencor, Inc. \* | 9570 | 315044 |
|  |  | &nbsp;&nbsp; 13854330 |
| **Precious Metals & Mining — 0.3%** | **Precious Metals & Mining — 0.3%** | **Precious Metals & Mining — 0.3%** |
| &nbsp;&nbsp;&nbsp; Hecla Mining Co. | 146840 | 906003 |
| **Real Estate Investment & Services — 1.0%** | **Real Estate Investment & Services — 1.0%** | **Real Estate Investment & Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575080 |
| &nbsp;&nbsp;&nbsp; Douglas Elliman, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265676 |
| &nbsp;&nbsp;&nbsp; eXp World Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443005 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459427 |
| &nbsp;&nbsp;&nbsp; Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462966 |
| &nbsp;&nbsp;&nbsp; Newmark Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 613423 |
| &nbsp;&nbsp;&nbsp; St. Joe Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576551 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3396128 |
| **Real Estate Investment Trusts — 9.4%** | **Real Estate Investment Trusts — 9.4%** | **Real Estate Investment Trusts — 9.4%** |
| &nbsp;&nbsp;&nbsp; Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 928994 |
| &nbsp;&nbsp;&nbsp; Alexander & Baldwin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441041 |
| &nbsp;&nbsp;&nbsp; American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116743 |
| &nbsp;&nbsp;&nbsp; Apartment Investment and Management Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 612666 |
| &nbsp;&nbsp;&nbsp; Apple Hospitality REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57195 | &nbsp;&nbsp;&nbsp;&nbsp; 1014067 |
| &nbsp;&nbsp;&nbsp; Ares Commercial Real Estate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624352 |
| &nbsp;&nbsp;&nbsp; Bluerock Homes Trust, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40346 |
| &nbsp;&nbsp;&nbsp; Brandywine Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240805 |
| &nbsp;&nbsp;&nbsp; Broadstone Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 857979 |
| &nbsp;&nbsp;&nbsp; CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897425 |
| &nbsp;&nbsp;&nbsp; Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54705 |
| &nbsp;&nbsp;&nbsp; Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266413 |
| &nbsp;&nbsp;&nbsp; Corporate Office Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 777567 |
| &nbsp;&nbsp;&nbsp; DiamondRock Hospitality Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 571858 |
| &nbsp;&nbsp;&nbsp; Easterly Government Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234668 |
| &nbsp;&nbsp;&nbsp; Elme Communities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49805 |
| &nbsp;&nbsp;&nbsp; Equity Commonwealth | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 612837 |
| &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432574 |
| &nbsp;&nbsp;&nbsp; Four Corners Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 997799 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The) \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 962067 |
| &nbsp;&nbsp;&nbsp; Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289764 |
| &nbsp;&nbsp;&nbsp; Global Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418555 |
| &nbsp;&nbsp;&nbsp; Hannon Armstrong Sustainable Infrastructure Capital, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 589121 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 789485 |
| &nbsp;&nbsp;&nbsp; Industrial Logistics Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55610 |
| &nbsp;&nbsp;&nbsp; Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418824 |
| &nbsp;&nbsp;&nbsp; Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940695 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Real Estate Investment Trusts — continued** | **Real Estate Investment Trusts — continued** | **Real Estate Investment Trusts — continued** |
| &nbsp;&nbsp;&nbsp; LTC Properties, Inc. | 24834 | 947417 |
| &nbsp;&nbsp;&nbsp; LXP Industrial Trust | 70120 | 809886 |
| &nbsp;&nbsp;&nbsp; Macerich Co. (The) | 58209 | 799792 |
| &nbsp;&nbsp;&nbsp; National Health Investors, Inc. | 17341 | 1020171 |
| &nbsp;&nbsp;&nbsp; NexPoint Residential Trust, Inc. | 3378 | 170589 |
| &nbsp;&nbsp;&nbsp; Office Properties Income Trust (a) | 14649 | 251377 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust | 39724 | 651474 |
| &nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 25670 | 860458 |
| &nbsp;&nbsp;&nbsp; Physicians Realty Trust | 47862 | 759091 |
| &nbsp;&nbsp;&nbsp; Piedmont Office Realty Trust, Inc., Class A | 17475 | 185235 |
| &nbsp;&nbsp;&nbsp; PotlatchDeltic Corp. | 20418 | 999461 |
| &nbsp;&nbsp;&nbsp; Retail Opportunity Investments Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 708709 |
| &nbsp;&nbsp;&nbsp; RLJ Lodging Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 403183 |
| &nbsp;&nbsp;&nbsp; RPT Realty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468467 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880783 |
| &nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75580 | &nbsp;&nbsp;&nbsp;&nbsp; 1020330 |
| &nbsp;&nbsp;&nbsp; SITE Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 769232 |
| &nbsp;&nbsp;&nbsp; STAG Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 968640 |
| &nbsp;&nbsp;&nbsp; Summit Hotel Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258471 |
| &nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650520 |
| &nbsp;&nbsp;&nbsp; Tanger Factory Outlet Centers, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 958653 |
| &nbsp;&nbsp;&nbsp; Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 989516 |
| &nbsp;&nbsp;&nbsp; Uniti Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383485 |
| &nbsp;&nbsp;&nbsp; Urban Edge Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592814 |
| &nbsp;&nbsp;&nbsp; Whitestone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229187 |
| &nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15869 |
|  |  | &nbsp;&nbsp; 30989575 |
| **Renewable Energy — 0.4%** | **Renewable Energy — 0.4%** | **Renewable Energy — 0.4%** |
| &nbsp;&nbsp;&nbsp; Arcosa, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946661 |
| &nbsp;&nbsp;&nbsp; REX American Resources Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308484 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1255145 |
| **Retailers — 3.3%** | **Retailers — 3.3%** | **Retailers — 3.3%** |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38280 | &nbsp;&nbsp;&nbsp;&nbsp; 1108589 |
| &nbsp;&nbsp;&nbsp; Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272004 |
| &nbsp;&nbsp;&nbsp; America's Car-Mart, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204066 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334180 |
| &nbsp;&nbsp;&nbsp; Big 5 Sporting Goods Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466443 |
| &nbsp;&nbsp;&nbsp; Big Lots, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187976 |
| &nbsp;&nbsp;&nbsp; Buckle, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 988416 |
| &nbsp;&nbsp;&nbsp; Caleres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73116 |
| &nbsp;&nbsp;&nbsp; Citi Trends, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322009 |
| &nbsp;&nbsp;&nbsp; Dillard's, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2831 | &nbsp;&nbsp;&nbsp;&nbsp; 1113461 |
| &nbsp;&nbsp;&nbsp; Genesco, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 563737 |
| &nbsp;&nbsp;&nbsp; Global Industrial Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41512 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4815 | &nbsp;&nbsp;&nbsp;&nbsp; 1029688 |
| &nbsp;&nbsp;&nbsp; Haverty Furniture Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 681569 |
| &nbsp;&nbsp;&nbsp; Hibbett, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549461 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Retailers — continued** | **Retailers — continued** | **Retailers — continued** |
| &nbsp;&nbsp;&nbsp; LL Flooring Holdings, Inc. \* | 357 | 2163 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 3299 | 897427 |
| &nbsp;&nbsp;&nbsp; ODP Corp. (The) \* | 10272 | 530035 |
| &nbsp;&nbsp;&nbsp; PriceSmart, Inc. | 2276 | 169130 |
| &nbsp;&nbsp;&nbsp; Shoe Carnival, Inc. | 27453 | 749741 |
| &nbsp;&nbsp;&nbsp; Zumiez, Inc. \* | 20374 | 526260 |
|  |  | &nbsp;&nbsp; 10810983 |
| **Software & Computer Services — 3.7%** | **Software & Computer Services — 3.7%** | **Software & Computer Services — 3.7%** |
| &nbsp;&nbsp;&nbsp; A10 Networks, Inc. | 15988 | 247494 |
| &nbsp;&nbsp;&nbsp; Agilysys, Inc. \* | 9091 | 759644 |
| &nbsp;&nbsp;&nbsp; Alarm.com Holdings, Inc. \* | 3810 | 204216 |
| &nbsp;&nbsp;&nbsp; Appfolio, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319916 |
| &nbsp;&nbsp;&nbsp; Avid Technology, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515816 |
| &nbsp;&nbsp;&nbsp; Cerence, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345217 |
| &nbsp;&nbsp;&nbsp; Consensus Cloud Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345450 |
| &nbsp;&nbsp;&nbsp; CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784004 |
| &nbsp;&nbsp;&nbsp; MicroStrategy, Inc., Class A \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610697 |
| &nbsp;&nbsp;&nbsp; Mitek Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144212 |
| &nbsp;&nbsp;&nbsp; NetScout Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630316 |
| &nbsp;&nbsp;&nbsp; OneSpan, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195867 |
| &nbsp;&nbsp;&nbsp; Perficient, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648873 |
| &nbsp;&nbsp;&nbsp; Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 895793 |
| &nbsp;&nbsp;&nbsp; Qualys, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 711771 |
| &nbsp;&nbsp;&nbsp; Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 828346 |
| &nbsp;&nbsp;&nbsp; Simulations Plus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401567 |
| &nbsp;&nbsp;&nbsp; SPS Commerce, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 943987 |
| &nbsp;&nbsp;&nbsp; Veradigm, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 615173 |
| &nbsp;&nbsp;&nbsp; Verint Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 536250 |
| &nbsp;&nbsp;&nbsp; Workiva, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860022 |
| &nbsp;&nbsp;&nbsp; Ziff Davis, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 833596 |
|  |  | &nbsp;&nbsp; 12378227 |
| **Technology Hardware & Equipment — 7.2%** | **Technology Hardware & Equipment — 7.2%** | **Technology Hardware & Equipment — 7.2%** |
| &nbsp;&nbsp;&nbsp; Adeia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582233 |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 904122 |
| &nbsp;&nbsp;&nbsp; Alpha & Omega Semiconductor Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555640 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35290 | &nbsp;&nbsp;&nbsp;&nbsp; 1032585 |
| &nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12372 | &nbsp;&nbsp;&nbsp;&nbsp; 1360301 |
| &nbsp;&nbsp;&nbsp; Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329246 |
| &nbsp;&nbsp;&nbsp; CEVA, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258270 |
| &nbsp;&nbsp;&nbsp; Cohu, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 844164 |
| &nbsp;&nbsp;&nbsp; CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610366 |
| &nbsp;&nbsp;&nbsp; Diodes, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 956028 |
| &nbsp;&nbsp;&nbsp; Fabrinet (Thailand) \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 974679 |
| &nbsp;&nbsp;&nbsp; FormFactor, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 725590 |
| &nbsp;&nbsp;&nbsp; Ichor Holdings Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340704 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9510 | &nbsp;&nbsp;&nbsp;&nbsp; 1071967 |
| &nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries, Inc. (Singapore) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860626 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Technology Hardware & Equipment — continued** | **Technology Hardware & Equipment — continued** | **Technology Hardware & Equipment — continued** |
| &nbsp;&nbsp;&nbsp; MaxLinear, Inc. \* | 17994 | 741353 |
| &nbsp;&nbsp;&nbsp; Methode Electronics, Inc. | 14288 | 682109 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc. \* | 5548 | 895836 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc. \* | 12220 | 961103 |
| &nbsp;&nbsp;&nbsp; PC Connection, Inc. | 4205 | 206171 |
| &nbsp;&nbsp;&nbsp; Photronics, Inc. \* | 38125 | 690825 |
| &nbsp;&nbsp;&nbsp; Plexus Corp. \* | 7450 | 715126 |
| &nbsp;&nbsp;&nbsp; Power Integrations, Inc. | 12116 | 1043067 |
| &nbsp;&nbsp;&nbsp; Rambus, Inc. \* | 25762 | 1042588 |
| &nbsp;&nbsp;&nbsp; Rogers Corp. \* | 1465 | 204499 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp. \* | 9845 | 599856 |
| &nbsp;&nbsp;&nbsp; ScanSource, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270289 |
| &nbsp;&nbsp;&nbsp; Semtech Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438077 |
| &nbsp;&nbsp;&nbsp; SiTime Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510123 |
| &nbsp;&nbsp;&nbsp; SMART Global Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346052 |
| &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229648 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594643 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636377 |
| &nbsp;&nbsp;&nbsp; Ultra Clean Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 813825 |
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 801974 |
|  |  | &nbsp;&nbsp; 23830062 |
| **Telecommunications Equipment — 2.8%** | **Telecommunications Equipment — 2.8%** | **Telecommunications Equipment — 2.8%** |
| &nbsp;&nbsp;&nbsp; ADTRAN Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720174 |
| &nbsp;&nbsp;&nbsp; Aviat Networks, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406445 |
| &nbsp;&nbsp;&nbsp; Calix, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720063 |
| &nbsp;&nbsp;&nbsp; Cambium Networks Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529407 |
| &nbsp;&nbsp;&nbsp; Clearfield, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529376 |
| &nbsp;&nbsp;&nbsp; CommScope Holding Co., Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497834 |
| &nbsp;&nbsp;&nbsp; Comtech Telecommunications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318818 |
| &nbsp;&nbsp;&nbsp; Digi International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295849 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782097 |
| &nbsp;&nbsp;&nbsp; Extreme Networks, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850529 |
| &nbsp;&nbsp;&nbsp; Harmonic, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 849689 |
| &nbsp;&nbsp;&nbsp; Infinera Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440144 |
| &nbsp;&nbsp;&nbsp; InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946353 |
| &nbsp;&nbsp;&nbsp; Lightwave Logic, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174264 |
| &nbsp;&nbsp;&nbsp; NETGEAR, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317543 |
| &nbsp;&nbsp;&nbsp; Ribbon Communications, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3528 |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750749 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9132862 |
| **Telecommunications Service Providers — 2.3%** | **Telecommunications Service Providers — 2.3%** | **Telecommunications Service Providers — 2.3%** |
| &nbsp;&nbsp;&nbsp; Anterix, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155786 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 982677 |
| &nbsp;&nbsp;&nbsp; Consolidated Communications Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347286 |
| &nbsp;&nbsp;&nbsp; Globalstar, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 513569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 724132 |
| &nbsp;&nbsp;&nbsp; Gogo, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848059 |
| &nbsp;&nbsp;&nbsp; IDT Corp., Class B \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799996 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Telecommunications Service Providers — continued** | **Telecommunications Service Providers — continued** | **Telecommunications Service Providers — continued** |
| &nbsp;&nbsp;&nbsp; Iridium Communications, Inc. \* | 18598 | 1112904 |
| &nbsp;&nbsp;&nbsp; Liberty Latin America Ltd., Class C (Puerto Rico) \* | 83508 | 822554 |
| &nbsp;&nbsp;&nbsp; Shenandoah Telecommunications Co. | 30625 | 598719 |
| &nbsp;&nbsp;&nbsp; Telephone and Data Systems, Inc. | 61719 | 825183 |
| &nbsp;&nbsp;&nbsp; WideOpenWest, Inc. \* | 30763 | 353467 |
| &nbsp;&nbsp;&nbsp; Xperi, Inc. \* | 16626 | 172079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7742842 |
| **Tobacco — 0.7%** | **Tobacco — 0.7%** | **Tobacco — 0.7%** |
| &nbsp;&nbsp;&nbsp; 22nd Century Group, Inc. \* (a) | 90369 | 99406 |
| &nbsp;&nbsp;&nbsp; Turning Point Brands, Inc. | 23072 | 535501 |
| &nbsp;&nbsp;&nbsp; Universal Corp. | 12900 | 701373 |
| &nbsp;&nbsp;&nbsp; Vector Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 968453 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2304733 |
| **Travel & Leisure — 0.3%** | **Travel & Leisure — 0.3%** | **Travel & Leisure — 0.3%** |
| &nbsp;&nbsp;&nbsp; Biglari Holdings, Inc., Class B \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30168 |
| &nbsp;&nbsp;&nbsp; Bloomin' Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 646893 |
| &nbsp;&nbsp;&nbsp; Chuy's Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86978 |
| &nbsp;&nbsp;&nbsp; El Pollo Loco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65068 |
| &nbsp;&nbsp;&nbsp; Ruth's Hospitality Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61987 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 891094 |
| **Waste & Disposal Services — 0.4%** | **Waste & Disposal Services — 0.4%** | **Waste & Disposal Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 807610 |
| &nbsp;&nbsp;&nbsp; Vertex Energy, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509141 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1316751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $316,693,161)<br>|  | 330807744 |
|  | &nbsp;&nbsp;&nbsp; **NO. OF** <br> **RIGHTS**<br>|  |
| **Rights—0.0% ^** | **Rights—0.0% ^** | **Rights—0.0% ^** |
| **Pharmaceuticals, Biotechnology & Marijuana Producers — 0.0% ^** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 0.0% ^** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 0.0% ^** |
| &nbsp;&nbsp;&nbsp; Achillion Pharmaceuticals, Inc. ‡ \*(Cost $—) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6379 |
|  | **SHARES** |  |
| **Short-Term Investments — 5.3%** | **Short-Term Investments — 5.3%** | **Short-Term Investments — 5.3%** |
| **Investment Companies — 0.2%** | **Investment Companies — 0.2%** | **Investment Companies — 0.2%** |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.15% (b) (c)(Cost $630,888) | &nbsp;&nbsp;&nbsp;&nbsp; 630888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630888 |
| **Investment of Cash Collateral from Securities Loaned — 5.1%** | **Investment of Cash Collateral from Securities Loaned — 5.1%** | **Investment of Cash Collateral from Securities Loaned — 5.1%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 4.57% (b) (c) | 13645532 | &nbsp;&nbsp; 13650990 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | &nbsp;&nbsp;&nbsp; <br> **VALUE ($)**<br>|
| **Short-Term Investments — continued** | **Short-Term Investments — continued** | **Short-Term Investments — continued** |
| **Investment of Cash Collateral from Securities Loaned — continued** | **Investment of Cash Collateral from Securities Loaned — continued** | **Investment of Cash Collateral from Securities Loaned — continued** |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.15% (b) (c) | 3374023 | 3374023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment of Cash Collateral from Securities Loaned <br>(Cost $17,020,155)<br>|  | &nbsp;&nbsp; 17025013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $17,651,043)<br>|  | &nbsp;&nbsp; 17655901 |
| **Total Investments — 105.1%** <br>**(Cost $334,344,204)**<br>|  | **348470024** |
| **Liabilities in Excess of Other Assets — (5.1)%** |  | **(16832917)** |
| **NET ASSETS — 100.0%** |  | **331637107** |

---

&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** |  |
| REIT | Real Estate Investment Trust |

---

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

---

| | |
|:---|:---|
| ^ | Amount rounds to less than 0.1% of net assets. |
| ‡ | Value determined using significant unobservable inputs. |
| \* | Non-income producing security.  |
| (a) | The security or a portion of this security is on loan at January 31, 2023. The total value of securities on loan at January 31, 2023 is <br> $16,955,998.<br>|
| (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 <br> Investment Management Inc.<br>|
| (c) | The rate shown is the current yield as of January 31, 2023. |

---

**Futures contracts outstanding as of January 31, 2023:**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **DESCRIPTION** | &nbsp;&nbsp;&nbsp; **NUMBER OF** <br>**CONTRACTS**<br>| **EXPIRATION DATE** | **TRADING CURRENCY** | &nbsp;&nbsp;&nbsp; **NOTIONAL** <br>**AMOUNT ($)**<br>| &nbsp;&nbsp;&nbsp; **VALUE AND** <br>**UNREALIZED** <br>**APPRECIATION** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(DEPRECIATION) ($)**<br>|
| **Long Contracts** |  |  |  |  |  |
| Russell 2000 E-Mini Index | 24 | 03/17/2023 | USD | 2327160 | 54429 |

---

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

---

| | |
|:---|:---|
| **Abbreviations** |  |
| USD | United States Dollar |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (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 SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Funds on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of Investments held in the Funds. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

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

A market-based approach is primarily used to value the Fund's investments. Investments for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing vendors or third party broker-dealers (collectively referred to as "Pricing Services"), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and such differences could be material.

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

Futures contracts are generally valued on the basis of available market quotations.

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

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

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

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

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

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

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

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** |
| **Investments in Securities** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Aerospace & Defense | $361785 | $— | $— | $361785 |
| &nbsp;&nbsp;&nbsp; Automobiles & Parts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1606272 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1606272 |
| &nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp;&nbsp; 15983548 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15983548 |
| &nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4748635 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4748635 |
| &nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp;&nbsp; 12413560 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12413560 |
| &nbsp;&nbsp;&nbsp; Construction & Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5750153 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5750153 |
| &nbsp;&nbsp;&nbsp; Consumer Services  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2190707 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2190707 |
| &nbsp;&nbsp;&nbsp; Electricity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6423088 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6423088 |
| &nbsp;&nbsp;&nbsp; Electronic & Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4778818 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4778818 |
| &nbsp;&nbsp;&nbsp; Finance & Credit Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5642630 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5642630 |
| &nbsp;&nbsp;&nbsp; Food Producers | &nbsp;&nbsp;&nbsp;&nbsp; 13069101 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13069101 |
| &nbsp;&nbsp;&nbsp; Gas, Water & Multi-utilities | &nbsp;&nbsp;&nbsp;&nbsp; 13009087 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13009087 |
| &nbsp;&nbsp;&nbsp; General Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4628550 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4628550 |
| &nbsp;&nbsp;&nbsp; Health Care Providers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8578790 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8578790 |
| &nbsp;&nbsp;&nbsp; Household Goods & Home Construction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5640864 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5640864 |
| &nbsp;&nbsp;&nbsp; Industrial Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4130315 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4130315 |
| &nbsp;&nbsp;&nbsp; Industrial Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7733878 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7733878 |
| &nbsp;&nbsp;&nbsp; Industrial Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp; 13128245 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13128245 |
| &nbsp;&nbsp;&nbsp; Industrial Support Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7900406 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7900406 |
| &nbsp;&nbsp;&nbsp; Industrial Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9364563 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9364563 |
| &nbsp;&nbsp;&nbsp; Investment Banking & Brokerage Services  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4679417 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4679417 |
| &nbsp;&nbsp;&nbsp; Leisure Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2954729 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2954729 |
| &nbsp;&nbsp;&nbsp; Life Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3398674 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3398674 |
| &nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1555771 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1555771 |
| &nbsp;&nbsp;&nbsp; Medical Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp; 11144226 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11144226 |
| &nbsp;&nbsp;&nbsp; Mortgage Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5408075 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5408075 |
| &nbsp;&nbsp;&nbsp; Non-life Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3506201 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3506201 |
| &nbsp;&nbsp;&nbsp; Non-Renewable Energy | &nbsp;&nbsp;&nbsp;&nbsp; 19713351 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19713351 |
| &nbsp;&nbsp;&nbsp; Personal Care, Drug & Grocery Stores  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9697614 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9697614 |
| &nbsp;&nbsp;&nbsp; Personal Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2857956 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2857956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals, Biotechnology & Marijuana <br> Producers<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13803794 | &nbsp;&nbsp; — | &nbsp;&nbsp; 50536 | &nbsp;&nbsp;&nbsp;&nbsp; 13854330 |
| &nbsp;&nbsp;&nbsp; Precious Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906003 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906003 |
| &nbsp;&nbsp;&nbsp; Real Estate Investment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3396128 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3396128 |
| &nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp;&nbsp; 30989575 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30989575 |
| &nbsp;&nbsp;&nbsp; Renewable Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1255145 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1255145 |
| &nbsp;&nbsp;&nbsp; Retailers  | &nbsp;&nbsp;&nbsp;&nbsp; 10810983 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10810983 |
| &nbsp;&nbsp;&nbsp; Software & Computer Services | &nbsp;&nbsp;&nbsp;&nbsp; 12378227 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12378227 |
| &nbsp;&nbsp;&nbsp; Technology Hardware & Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 23830062 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23830062 |
| &nbsp;&nbsp;&nbsp; Telecommunications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9132862 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9132862 |
| &nbsp;&nbsp;&nbsp; Telecommunications Service Providers  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7742842 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7742842 |
| &nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2304733 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2304733 |
| &nbsp;&nbsp;&nbsp; Travel & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 891094 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 891094 |

---

------

**JPMorgan Diversified Return U.S. Small Cap Equity ETF** <br>**SCHEDULE OF PORTFOLIO INVESTMENTS** <br>AS OF January 31, 2023 (Unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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** |
| &nbsp;&nbsp;&nbsp; Waste & Disposal Services | $1316751 | $— | $— | $1316751 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp; 330757208 | &nbsp;&nbsp; — | &nbsp;&nbsp; 50536 | &nbsp;&nbsp; 330807744 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6379 |
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630888 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630888 |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | &nbsp;&nbsp;&nbsp;&nbsp; 17025013 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17025013 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 17655901 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17655901 |
| **Total Investments in Securities** | $348413109 | $— | $56915 | $348470024 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts | $54429 | $— | $— | $54429 |

---

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** | **For the period ended January 31, 2023** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2022**<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>**January 31,** <br>**2023**<br>| **Shares at** <br>**January 31,** <br>**2023**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money <br> Market Fund Agency SL <br> Class Shares, 4.57% (a) (b)<br>| $19342762 | $22000000 | $27700000 | $6009 | $2219 | $13650990 | 13645532 | $203577 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, <br> 4.15% (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2902497 | &nbsp;&nbsp; 40164465 | &nbsp;&nbsp; 39692939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3374023 | &nbsp;&nbsp; 3374023 | &nbsp;&nbsp;&nbsp;&nbsp; 35853 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, <br> 4.15% (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325140 | &nbsp;&nbsp;&nbsp;&nbsp; 4257631 | &nbsp;&nbsp;&nbsp;&nbsp; 3951883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630888 | &nbsp;&nbsp;&nbsp;&nbsp; 630888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9472 | &nbsp;&nbsp; — |
| **Total** | $22570399 | $66422096 | $71344822 | $6009 | $2219 | $17655901 |  | $248902 | $— |

---

&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 January 31, 2023.

------

## 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 Diversified Return U.S. Small Cap Equity ETF

- **b. EDGAR series identifier (if any):** S000055014

- **c. LEI of Series:** 549300HLWRCF2DOPWP77

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $348736498.26

**Total Liabilities:** $17099341.60

**Net Assets:** $331637156.66

**Cash Not Reported:** $50195.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000173015 | 4.84%                | -6.53%               | 9.06%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $152096.88               | $13368958.82                               |
| Month 2  | $194145.29               | $-21817213.55                              |
| Month 3  | $100843.62               | $26777246.31                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Radian Group, Inc.                                        | Radian Group, Inc.                                                    | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |     41110 | NS      | $908531.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive, Inc.                                  | Group 1 Automotive, Inc.                                              | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      4815 | NS      | $1029687.75   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp.                                        | Agree Realty Corp.                                                    | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12448 | NS      | $928994.24    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp.                                            | Renasant Corp.                                                        | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |     11694 | NS      | $416072.52    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Corporate Office Properties Trust                         | Corporate Office Properties Trust                                     | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     27701 | NS      | $777567.07    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Schnitzer Steel Industries, Inc.                          | Schnitzer Steel Industries, Inc., Class A                             | CUSIP: 806882106<br>LEI: 549300F62TK8VRDSM285 | Long             | EC               | CORP              | US        |     19883 | NS      | $672840.72    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital, Inc.                                        | InterDigital, Inc.                                                    | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13529 | NS      | $946353.55    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI Corp.                                                 | RLI Corp.                                                             | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |      3531 | NS      | $467680.95    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp.                                | Chesapeake Utilities Corp.                                            | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |      5493 | NS      | $692557.44    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group, Inc.                        | Helix Energy Solutions Group, Inc.                                    | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |     88423 | NS      | $701194.39    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| GMS, Inc.                                                 | GMS, Inc.                                                             | CUSIP: 36251C103<br>LEI: 52990057RENOQO4U0D72 | Long             | EC               | CORP              | US        |      9461 | NS      | $561226.52    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate, Inc.                                | Anywhere Real Estate, Inc.                                            | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     67816 | NS      | $575079.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd.                                | Liberty Latin America Ltd., Class C                                   | CUSIP: N/A<br>LEI: 213800YWQHEAX7CAVO83       | Long             | EC               | CORP              | BM        |     83508 | NS      | $822553.80    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco, Inc.                                            | WesBanco, Inc.                                                        | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14762 | NS      | $548703.54    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Elliman, Inc.                                     | Douglas Elliman, Inc.                                                 | CUSIP: 25961D105<br>LEI: 549300BXICHPOXA1NO93 | Long             | EC               | CORP              | US        |     57012 | NS      | $265675.92    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp.                                     | Hancock Whitney Corp.                                                 | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |      9487 | NS      | $488390.76    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Globalstar, Inc.                                          | Globalstar, Inc.                                                      | CUSIP: 378973408<br>LEI: 549300NEX8I0MSOW0R64 | Long             | EC               | CORP              | US        |    513569 | NS      | $724132.29    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Addus HomeCare Corp.                                      | Addus HomeCare Corp.                                                  | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      5902 | NS      | $634583.04    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Oxford Industries, Inc.                                   | Oxford Industries, Inc.                                               | CUSIP: 691497309<br>LEI: IDZ20O0XD3GS4UOI2L88 | Long             | EC               | CORP              | US        |      7222 | NS      | $846562.84    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Koppers Holdings, Inc.                                    | Koppers Holdings, Inc.                                                | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17753 | NS      | $614431.33    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA, Inc.                                               | TEGNA, Inc.                                                           | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     49433 | NS      | $985199.69    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TrueBlue, Inc.                                            | TrueBlue, Inc.                                                        | CUSIP: 89785X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4576 | NS      | $89826.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors, Inc.                               | Ethan Allen Interiors, Inc.                                           | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29329 | NS      | $842915.46    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Intrepid Potash, Inc.                                     | Intrepid Potash, Inc.                                                 | CUSIP: 46121Y201<br>LEI: 549300OZ696E2PRRTO45 | Long             | EC               | CORP              | US        |     17143 | NS      | $561090.39    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Medical Holdings, Inc.                             | Apollo Medical Holdings, Inc.                                         | CUSIP: 03763A207<br>LEI: 5493008O4R82Q4STJ936 | Long             | EC               | CORP              | US        |     17637 | NS      | $628582.68    | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| John B Sanfilippo & Son, Inc.                             | John B Sanfilippo & Son, Inc.                                         | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |      7235 | NS      | $611429.85    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Meridian Bioscience, Inc.                                 | Meridian Bioscience, Inc.                                             | CUSIP: 589584101<br>LEI: 549300ELSRZEFFFRX195 | Long             | EC               | CORP              | US        |     29017 | NS      | $986578.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpan, Inc.                                             | OneSpan, Inc.                                                         | CUSIP: 68287N100<br>LEI: 549300D67QDZG593UX89 | Long             | EC               | CORP              | US        |     14183 | NS      | $195867.23    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods, Inc.                                     | Cal-Maine Foods, Inc.                                                 | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     16960 | NS      | $970451.20    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Commercial Real Estate Corp.                         | Ares Commercial Real Estate Corp.                                     | CUSIP: 04013V108<br>LEI: 549300ZNO5IWXS443S81 | Long             | EC               | CORP              | US        |     50843 | NS      | $624352.04    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Heska Corp.                                               | Heska Corp.                                                           | CUSIP: 42805E306<br>LEI: 529900O1OR2EB7L0HY27 | Long             | EC               | CORP              | US        |      1913 | NS      | $171098.72    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Aviat Networks, Inc.                                      | Aviat Networks, Inc.                                                  | CUSIP: 05366Y201<br>LEI: 549300Z3X8Z4MK52CI65 | Long             | EC               | CORP              | US        |     12564 | NS      | $406445.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Permian Resources Corp.                                   | Permian Resources Corp.                                               | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     97396 | NS      | $1058694.52   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp.                                             | Balchem Corp.                                                         | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |      6929 | NS      | $905135.27    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals, Inc.                              | Ligand Pharmaceuticals, Inc.                                          | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |      4139 | NS      | $288488.30    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Artisan Partners Asset Management, Inc.                   | Artisan Partners Asset Management, Inc., Class A                      | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |     23369 | NS      | $860446.58    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SpartanNash Co.                                           | SpartanNash Co.                                                       | CUSIP: 847215100<br>LEI: 549300TV3QCCSQLF5X16 | Long             | EC               | CORP              | US        |     30088 | NS      | $953187.84    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp.                                | New Jersey Resources Corp.                                            | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |     19852 | NS      | $991011.84    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp.                                         | Haemonetics Corp.                                                     | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |      7628 | NS      | $645328.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Xperi, Inc.                                               | Xperi, Inc.                                                           | CUSIP: 98423J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16626 | NS      | $172079.10    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinera Corp.                                            | Infinera Corp.                                                        | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Long             | EC               | CORP              | US        |     60129 | NS      | $440144.28    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Tootsie Roll Industries, Inc.                             | Tootsie Roll Industries, Inc.                                         | CUSIP: 890516107<br>LEI: 529900SBKOV9XX4M4Q35 | Long             | EC               | CORP              | US        |     21606 | NS      | $966436.38    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin' Brands, Inc.                                     | Bloomin' Brands, Inc.                                                 | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |     26676 | NS      | $646893.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Enstar Group Ltd.                                         | Enstar Group Ltd.                                                     | CUSIP: N/A<br>LEI: 213800AMAL5QFXVUCN04       | Long             | EC               | CORP              | BM        |       886 | NS      | $214677.80    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PriceSmart, Inc.                                          | PriceSmart, Inc.                                                      | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |      2276 | NS      | $169129.56    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookline Bancorp, Inc.                                   | Brookline Bancorp, Inc.                                               | CUSIP: 11373M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13464 | NS      | $176109.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WideOpenWest, Inc.                                        | WideOpenWest, Inc.                                                    | CUSIP: 96758W101<br>LEI: 549300RM6J2BWWOFU889 | Long             | EC               | CORP              | US        |     30763 | NS      | $353466.87    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hibbett, Inc.                                             | Hibbett, Inc.                                                         | CUSIP: 428567101<br>LEI: 529900RD6P643J1CZM55 | Long             | EC               | CORP              | US        |      8280 | NS      | $549460.80    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingles Markets, Inc.                                      | Ingles Markets, Inc., Class A                                         | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |      9646 | NS      | $916370.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp.                                    | Integer Holdings Corp.                                                | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |      9570 | NS      | $629801.70    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies, Inc.                                | Axcelis Technologies, Inc.                                            | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     12372 | NS      | $1360301.40   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Masonite International Corp.                              | Masonite International Corp.                                          | CUSIP: 575385109<br>LEI: 549300H0H07ZFT4JYM32 | Long             | EC               | CORP              | CA        |      4545 | NS      | $414594.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| 22nd Century Group, Inc.                                  | 22nd Century Group, Inc.                                              | CUSIP: 90137F103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90369 | NS      | $99405.90     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Northwest Natural Holding Co.                             | Northwest Natural Holding Co.                                         | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |     13922 | NS      | $698049.08    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares, Inc.                                | Northwest Bancshares, Inc.                                            | CUSIP: 667340103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13817 | NS      | $195372.38    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp.                               | Standex International Corp.                                           | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |      2532 | NS      | $292623.24    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Varex Imaging Corp.                                       | Varex Imaging Corp.                                                   | CUSIP: 92214X106<br>LEI: 549300CWYWPVCT8E9W67 | Long             | EC               | CORP              | US        |     25978 | NS      | $558267.22    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp.                                             | Semtech Corp.                                                         | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     13263 | NS      | $438076.89    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| America's Car-Mart, Inc.                                  | America's Car-Mart, Inc.                                              | CUSIP: 03062T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2369 | NS      | $204065.66    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health, Inc.                                  | Option Care Health, Inc.                                              | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     30262 | NS      | $873663.94    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilltop Holdings, Inc.                                    | Hilltop Holdings, Inc.                                                | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |     31573 | NS      | $1032437.10   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Atrion Corp.                                              | Atrion Corp.                                                          | CUSIP: 049904105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       324 | NS      | $222685.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| REX American Resources Corp.                              | REX American Resources Corp.                                          | CUSIP: 761624105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9428 | NS      | $308484.16    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| United Natural Foods, Inc.                                | United Natural Foods, Inc.                                            | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Long             | EC               | CORP              | US        |     20463 | NS      | $851670.06    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings, Inc.                                     | ADTRAN Holdings, Inc.                                                 | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |     38165 | NS      | $720173.55    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| El Pollo Loco Holdings, Inc.                              | El Pollo Loco Holdings, Inc.                                          | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Long             | EC               | CORP              | US        |      5303 | NS      | $65067.81     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings, Inc.                                    | Medpace Holdings, Inc.                                                | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      4652 | NS      | $1028417.64   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet, Inc.                                              | RadNet, Inc.                                                          | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     10466 | NS      | $220309.30    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| iStar, Inc.                                               | iStar, Inc.                                                           | CUSIP: 45031U101<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               | CORP              | US        |     37110 | NS      | $344380.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Oilfield Infrastructure, Inc.                     | Solaris Oilfield Infrastructure, Inc., Class A                        | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     47471 | NS      | $502717.89    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Scorpio Tankers, Inc.                                     | Scorpio Tankers, Inc.                                                 | CUSIP: N/A<br>LEI: 549300NVJUH16NXG8K87       | Long             | EC               | CORP              | MH        |      4318 | NS      | $206702.66    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co.                               | DiamondRock Hospitality Co.                                           | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |     59383 | NS      | $571858.29    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LHC Group, Inc.                                           | LHC Group, Inc.                                                       | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |      5150 | NS      | $816790.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinseo plc                                               | Trinseo plc                                                           | CUSIP: N/A<br>LEI: 549300TJ3HIGDA2Z8315       | Long             | EC               | CORP              | IE        |     21890 | NS      | $607447.50    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Office Realty Trust, Inc.                        | Piedmont Office Realty Trust, Inc., Class A                           | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17475 | NS      | $185235.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp                                      | Old National Bancorp                                                  | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     51060 | NS      | $893550.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp.                                           | Trustmark Corp.                                                       | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |     18186 | NS      | $529576.32    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                                               | Centerspace                                                           | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |       809 | NS      | $54704.58     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Abercrombie & Fitch Co.                                   | Abercrombie & Fitch Co., Class A                                      | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     38280 | NS      | $1108588.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearfield, Inc.                                          | Clearfield, Inc.                                                      | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Long             | EC               | CORP              | US        |      7408 | NS      | $529375.68    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia, Inc.                                                | Saia, Inc.                                                            | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      4017 | NS      | $1095757.26   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Federal, Inc.                                  | Washington Federal, Inc.                                              | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11486 | NS      | $407293.56    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Employers Holdings, Inc.                                  | Employers Holdings, Inc.                                              | CUSIP: 292218104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9141 | NS      | $401015.67    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Veru, Inc.                                                | Veru, Inc.                                                            | CUSIP: 92536C103<br>LEI: 529900ER63TFLEIJV631 | Long             | EC               | CORP              | US        |     61029 | NS      | $351527.04    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Atkore, Inc.                                              | Atkore, Inc.                                                          | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |      7987 | NS      | $1040306.75   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus, Inc.                                              | Cactus, Inc., Class A                                                 | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     18183 | NS      | $983882.13    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellium SE                                            | Constellium SE                                                        | CUSIP: N/A<br>LEI: 724500KRJEMC79KAAU28       | Long             | EC               | CORP              | FR        |     44103 | NS      | $640816.59    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology, Inc.                              | Vishay Intertechnology, Inc.                                          | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |     35036 | NS      | $801974.04    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT, Inc.                              | Apple Hospitality REIT, Inc.                                          | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |     57195 | NS      | $1014067.35   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Electronics, Inc.                               | Universal Electronics, Inc.                                           | CUSIP: 913483103<br>LEI: 549300ZW9EULAR7T6F89 | Long             | EC               | CORP              | US        |      7001 | NS      | $164033.43    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities                                          | Elme Communities                                                      | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               | CORP              | US        |      2594 | NS      | $49804.80     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Navient Corp.                                             | Navient Corp.                                                         | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |     58888 | NS      | $1117105.36   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynex Capital, Inc.                                       | Dynex Capital, Inc.                                                   | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |     11298 | NS      | $162804.18    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Comtech Telecommunications Corp.                          | Comtech Telecommunications Corp.                                      | CUSIP: 205826209<br>LEI: 529900FTEZ8MGM0Y8F73 | Long             | EC               | CORP              | US        |     20102 | NS      | $318817.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Office Properties Income Trust                            | Office Properties Income Trust                                        | CUSIP: 67623C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14649 | NS      | $251376.84    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| GEO Group, Inc. (The)                                     | GEO Group, Inc. (The)                                                 | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |     83658 | NS      | $962067.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| CorVel Corp.                                              | CorVel Corp.                                                          | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3799 | NS      | $676829.84    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Warrior Met Coal, Inc.                                    | Warrior Met Coal, Inc.                                                | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |     13374 | NS      | $506607.12    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems, Inc.                               | Merit Medical Systems, Inc.                                           | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |     13719 | NS      | $978850.65    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Chuy's Holdings, Inc.                                     | Chuy's Holdings, Inc.                                                 | CUSIP: 171604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2541 | NS      | $86978.43     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital City Bank Group, Inc.                             | Capital City Bank Group, Inc.                                         | CUSIP: 139674105<br>LEI: 254900NVLVUJQZKTQE82 | Long             | EC               | CORP              | US        |       875 | NS      | $28411.25     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Lightwave Logic, Inc.                                     | Lightwave Logic, Inc.                                                 | CUSIP: 532275104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27705 | NS      | $174264.45    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Cohu, Inc.                                                | Cohu, Inc.                                                            | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |     23397 | NS      | $844163.76    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals, Inc.                            | Ironwood Pharmaceuticals, Inc.                                        | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |     44424 | NS      | $511764.48    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Excelerate Energy, Inc.                                   | Excelerate Energy, Inc., Class A                                      | CUSIP: 30069T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19029 | NS      | $443375.70    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels, Inc.                                        | Energy Fuels, Inc.                                                    | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |     22417 | NS      | $165213.29    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| SandRidge Energy, Inc.                                    | SandRidge Energy, Inc.                                                | CUSIP: 80007P869<br>LEI: W1MKPVGS6I5155L7VV67 | Long             | EC               | CORP              | US        |     29670 | NS      | $469082.70    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Advanced Materials, Inc.                         | Rayonier Advanced Materials, Inc.                                     | CUSIP: 75508B104<br>LEI: 54930053QJ7OUGZG4F72 | Long             | EC               | CORP              | US        |     66662 | NS      | $461967.66    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP Enterprises, Inc.                                     | DXP Enterprises, Inc.                                                 | CUSIP: 233377407<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1298 | NS      | $39329.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Inogen, Inc.                                              | Inogen, Inc.                                                          | CUSIP: 45780L104<br>LEI: 549300J8WJIVTOJ8IH97 | Long             | EC               | CORP              | US        |      2317 | NS      | $54055.61     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nelnet, Inc.                                              | Nelnet, Inc., Class A                                                 | CUSIP: 64031N108<br>LEI: 549300T6B0Q52I6OM558 | Long             | EC               | CORP              | US        |      3576 | NS      | $341472.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Haynes International, Inc.                                | Haynes International, Inc.                                            | CUSIP: 420877201<br>LEI: 549300I9MS5UZLRFDO40 | Long             | EC               | CORP              | US        |     10495 | NS      | $584466.55    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                                             | SM Energy Co.                                                         | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     19582 | NS      | $643660.34    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Commonwealth                                       | Equity Commonwealth                                                   | CUSIP: 294628102<br>LEI: 549300YPGVU9PR4L0606 | Long             | EC               | CORP              | US        |     24014 | NS      | $612837.28    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings, Inc.                                   | Lantheus Holdings, Inc.                                               | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     11897 | NS      | $684077.50    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcus & Millichap, Inc.                                  | Marcus & Millichap, Inc.                                              | CUSIP: 566324109<br>LEI: 549300B2HE8ULXNB1N48 | Long             | EC               | CORP              | US        |     12775 | NS      | $462966.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Investment Partners, Inc.                          | Virtus Investment Partners, Inc.                                      | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |       107 | NS      | $22992.16     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors, Inc.                           | National Health Investors, Inc.                                       | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     17341 | NS      | $1020171.03   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Air Worldwide Holdings, Inc.                        | Atlas Air Worldwide Holdings, Inc.                                    | CUSIP: 049164205<br>LEI: 549300R0A2TUVCYZB465 | Long             | EC               | CORP              | US        |      9359 | NS      | $956583.39    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Weis Markets, Inc.                                        | Weis Markets, Inc.                                                    | CUSIP: 948849104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4117 | NS      | $355461.78    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Bancorp, Inc.                                    | Republic Bancorp, Inc., Class A                                       | CUSIP: 760281204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2748 | NS      | $123605.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| OraSure Technologies, Inc.                                | OraSure Technologies, Inc.                                            | CUSIP: 68554V108<br>LEI: 529900GNNJPNM4XHXQ77 | Long             | EC               | CORP              | US        |     62956 | NS      | $351294.48    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategic Education, Inc.                                 | Strategic Education, Inc.                                             | CUSIP: 86272C103<br>LEI: 0PYXF82EO1UCNGL5I740 | Long             | EC               | CORP              | US        |      2466 | NS      | $230201.10    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Newpark Resources, Inc.                                   | Newpark Resources, Inc.                                               | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |      3766 | NS      | $17097.64     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Berry Corp.                                               | Berry Corp.                                                           | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46902 | NS      | $431498.40    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products, Inc.                              | Mueller Water Products, Inc., Class A                                 | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |      6121 | NS      | $77430.65     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                                              | Moelis & Co., Class A                                                 | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |     13864 | NS      | $648142.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| St. Joe Co. (The)                                         | St. Joe Co. (The)                                                     | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     12241 | NS      | $576551.10    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec, Inc.                                            | Innospec, Inc.                                                        | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |      8799 | NS      | $994462.98    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Logistics Properties Trust                     | Industrial Logistics Properties Trust                                 | CUSIP: 456237106<br>LEI: 5493004XH9PJW009HR47 | Long             | EC               | CORP              | US        |     12610 | NS      | $55610.10     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Wesson Brands, Inc.                               | Smith & Wesson Brands, Inc.                                           | CUSIP: 831754106<br>LEI: 5493004PFHUPOR1PWN79 | Long             | EC               | CORP              | US        |     62800 | NS      | $695824.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Myriad Genetics, Inc.                                     | Myriad Genetics, Inc.                                                 | CUSIP: 62855J104<br>LEI: 52990044IHUOUMETT163 | Long             | EC               | CORP              | US        |     15163 | NS      | $299014.36    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LGI Homes, Inc.                                           | LGI Homes, Inc.                                                       | CUSIP: 50187T106<br>LEI: 549300W02B4WNV8CV109 | Long             | EC               | CORP              | US        |      1877 | NS      | $213696.45    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Medifast, Inc.                                            | Medifast, Inc.                                                        | CUSIP: 58470H101<br>LEI: 5299000YHQJ21T5KKI80 | Long             | EC               | CORP              | US        |      4968 | NS      | $553683.60    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp                                          | McGrath RentCorp                                                      | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |      4502 | NS      | $448129.08    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell, Inc.                                            | Omnicell, Inc.                                                        | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |      5987 | NS      | $332098.89    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Genco Shipping & Trading Ltd.                             | Genco Shipping & Trading Ltd.                                         | CUSIP: N/A<br>LEI: 5493003MBZ5GU8QHXZ58       | Long             | EC               | CORP              | MH        |     21091 | NS      | $382590.74    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Forrester Research, Inc.                                  | Forrester Research, Inc.                                              | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |      4512 | NS      | $167214.72    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp.                                | Taylor Morrison Home Corp.                                            | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     15201 | NS      | $544195.80    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies, Inc.                                  | Ormat Technologies, Inc.                                              | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |      8193 | NS      | $758262.15    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Universal Corp.                                           | Universal Corp.                                                       | CUSIP: 913456109<br>LEI: 549300BZXZ66F6DTIF20 | Long             | EC               | CORP              | US        |     12900 | NS      | $701373.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop, Inc.                                     | Walker & Dunlop, Inc.                                                 | CUSIP: 93148P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2358 | NS      | $224906.04    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions, Inc.                           | Consensus Cloud Solutions, Inc.                                       | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5878 | NS      | $345450.06    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries, Inc.                                  | Mueller Industries, Inc.                                              | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     14179 | NS      | $929433.45    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Biglari Holdings, Inc.                                    | Biglari Holdings, Inc., Class B                                       | CUSIP: 08986R309<br>LEI: 549300GLWWSODF8TM682 | Long             | EC               | CORP              | US        |       185 | NS      | $30167.95     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies, Inc.                            | Watts Water Technologies, Inc., Class A                               | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      5860 | NS      | $958227.20    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co.                                  | Central Garden & Pet Co., Class A                                     | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     11402 | NS      | $451861.26    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd.                                        | Steven Madden Ltd.                                                    | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     14761 | NS      | $529181.85    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ModivCare, Inc.                                           | ModivCare, Inc.                                                       | CUSIP: 60783X104<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | EC               | CORP              | US        |      5458 | NS      | $585425.08    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings, Inc.                                        | RBC Bearings, Inc.                                                    | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4130 | NS      | $1007596.10   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                                                | Korn Ferry                                                            | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |      6899 | NS      | $372477.01    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Veradigm, Inc.                                            | Veradigm, Inc.                                                        | CUSIP: 01988P108<br>LEI: Y68YJHVB1GU4TAU3C223 | Long             | EC               | CORP              | US        |     34348 | NS      | $615172.68    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp.                                | OceanFirst Financial Corp.                                            | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24438 | NS      | $584556.96    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TrustCo Bank Corp.                                        | TrustCo Bank Corp.                                                    | CUSIP: 898349204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4815 | NS      | $172906.65    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholastic Corp.                                          | Scholastic Corp.                                                      | CUSIP: 807066105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4600 | NS      | $203504.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| USANA Health Sciences, Inc.                               | USANA Health Sciences, Inc.                                           | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |      8497 | NS      | $496564.68    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLETE, Inc.                                              | ALLETE, Inc.                                                          | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |     14741 | NS      | $911878.26    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                                  | Fabrinet                                                              | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | KY        |      7403 | NS      | $974678.98    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corp.                                         | ACCO Brands Corp.                                                     | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |     67494 | NS      | $428586.90    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                                    | Cathay General Bancorp                                                | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     15287 | NS      | $672016.52    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions, Inc.                                     | Viavi Solutions, Inc.                                                 | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |     66438 | NS      | $750749.40    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust, Inc.                   | Essential Properties Realty Trust, Inc.                               | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     16977 | NS      | $432573.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mortgage Trust, Inc.                             | New York Mortgage Trust, Inc.                                         | CUSIP: 649604501<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EC               | CORP              | US        |     88569 | NS      | $276335.28    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbus McKinnon Corp.                                   | Columbus McKinnon Corp.                                               | CUSIP: 199333105<br>LEI: 549300W3HQB0HO1F3G69 | Long             | EC               | CORP              | US        |      8747 | NS      | $314454.65    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks, Inc.                              | United Community Banks, Inc.                                          | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |     13717 | NS      | $446351.18    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co.                                         | Boise Cascade Co.                                                     | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |     13339 | NS      | $1000024.83   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Contra A/S                                                | Contra A/S                                                            | CUSIP: 532CNT011<br>LEI: N/A                  | Long             | EC               | CORP              | DK        |      1382 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Ellington Financial, Inc.                                 | Ellington Financial, Inc.                                             | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |     48029 | NS      | $659438.17    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Interface, Inc.                                           | Interface, Inc.                                                       | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     37692 | NS      | $428934.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gray Television, Inc.                                     | Gray Television, Inc.                                                 | CUSIP: 389375106<br>LEI: 529900TM5726KDN7UU35 | Long             | EC               | CORP              | US        |     22501 | NS      | $291612.96    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd.                                         | Essent Group Ltd.                                                     | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | BM        |      7794 | NS      | $343169.82    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CommScope Holding Co., Inc.                               | CommScope Holding Co., Inc.                                           | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |     59266 | NS      | $497834.40    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb, Inc.                                              | OmniAb, Inc.                                                          | CUSIP: 68218J103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20391 | NS      | $84418.74     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LSB Industries, Inc.                                      | LSB Industries, Inc.                                                  | CUSIP: 502160104<br>LEI: 5493001H215A0HG0MI71 | Long             | EC               | CORP              | US        |     63241 | NS      | $803793.11    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson Cos., Inc.                                      | Patterson Cos., Inc.                                                  | CUSIP: 703395103<br>LEI: YM48Q2087CUE26GWEK09 | Long             | EC               | CORP              | US        |     32522 | NS      | $981839.18    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp.                                                | GATX Corp.                                                            | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |      5047 | NS      | $577629.15    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial, Inc.                                       | MFA Financial, Inc.                                                   | CUSIP: 55272X607<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EC               | CORP              | US        |     30526 | NS      | $362954.14    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems, Inc.                               | Casella Waste Systems, Inc., Class A                                  | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     10080 | NS      | $807609.60    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group, Inc.                           | Healthcare Services Group, Inc.                                       | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     12396 | NS      | $166974.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Safety Insurance Group, Inc.                              | Safety Insurance Group, Inc.                                          | CUSIP: 78648T100<br>LEI: 254900LDCFLA3J746840 | Long             | EC               | CORP              | US        |      3775 | NS      | $318572.25    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp.                                               | Brady Corp., Class A                                                  | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |      7490 | NS      | $400490.30    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Via Renewables, Inc.                                      | Via Renewables, Inc.                                                  | CUSIP: 92556D106<br>LEI: 549300U656GZMTWR1T03 | Long             | EC               | CORP              | US        |     29581 | NS      | $198488.51    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Rite Aid Corp.                                            | Rite Aid Corp.                                                        | CUSIP: 767754872<br>LEI: 529900W353T1JY1DKT44 | Long             | EC               | CORP              | US        |     58621 | NS      | $213966.65    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| J&J Snack Foods Corp.                                     | J&J Snack Foods Corp.                                                 | CUSIP: 466032109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5244 | NS      | $751465.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp.                                             | Griffon Corp.                                                         | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |      6891 | NS      | $281704.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations, Inc.                                  | Power Integrations, Inc.                                              | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     12116 | NS      | $1043066.44   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| California Water Service Group                            | California Water Service Group                                        | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |     12563 | NS      | $768478.71    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tronox Holdings plc                                       | Tronox Holdings plc                                                   | CUSIP: N/A<br>LEI: 549300NRVC84SGJSXV06       | Long             | EC               | CORP              | GB        |     51476 | NS      | $882813.40    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Prothena Corp. plc                                        | Prothena Corp. plc                                                    | CUSIP: N/A<br>LEI: 5299009ZXQ8NIIJ8OL30       | Long             | EC               | CORP              | IE        |     15598 | NS      | $882066.90    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif, Inc.                                               | Greif, Inc., Class A                                                  | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |      9246 | NS      | $660441.78    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares, Inc.                                   | United Bankshares, Inc.                                               | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |     22751 | NS      | $914590.20    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentherm, Inc.                                            | Gentherm, Inc.                                                        | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |     13625 | NS      | $1014108.75   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Shenandoah Telecommunications Co.                         | Shenandoah Telecommunications Co.                                     | CUSIP: 82312B106<br>LEI: 549300XH3H4OUKFPHS84 | Long             | EC               | CORP              | US        |     30625 | NS      | $598718.75    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Middlesex Water Co.                                       | Middlesex Water Co.                                                   | CUSIP: 596680108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5772 | NS      | $484039.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| National Beverage Corp.                                   | National Beverage Corp.                                               | CUSIP: 635017106<br>LEI: 549300O9MZIQJI8TGV17 | Long             | EC               | CORP              | US        |     16821 | NS      | $743488.20    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitek Systems, Inc.                                       | Mitek Systems, Inc.                                                   | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Long             | EC               | CORP              | US        |     14626 | NS      | $144212.36    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp.                                     | Wabash National Corp.                                                 | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |      7194 | NS      | $185317.44    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulgent Genetics, Inc.                                    | Fulgent Genetics, Inc.                                                | CUSIP: 359664109<br>LEI: 549300CL6P01M68QJ404 | Long             | EC               | CORP              | US        |     14407 | NS      | $486668.46    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy, Inc.                                            | La-Z-Boy, Inc.                                                        | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |     24965 | NS      | $709754.95    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences, Inc.                                  | Castle Biosciences, Inc.                                              | CUSIP: 14843C105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9124 | NS      | $247077.92    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises, Inc.                                 | Insight Enterprises, Inc.                                             | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |      9510 | NS      | $1071967.20   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp.                                             | ArcBest Corp.                                                         | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |      7493 | NS      | $625290.85    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookdale Senior Living, Inc.                             | Brookdale Senior Living, Inc.                                         | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | EC               | CORP              | US        |     13099 | NS      | $37725.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha & Omega Semiconductor Ltd.                          | Alpha & Omega Semiconductor Ltd.                                      | CUSIP: N/A<br>LEI: 5493001FE7J03YOV2V35       | Long             | EC               | CORP              | BM        |     16858 | NS      | $555639.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| First Busey Corp.                                         | First Busey Corp.                                                     | CUSIP: 319383204<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EC               | CORP              | US        |      3499 | NS      | $83521.13     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys, Inc.                                            | Agilysys, Inc.                                                        | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |      9091 | NS      | $759643.96    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Corp.                                        | NorthWestern Corp.                                                    | CUSIP: 668074305<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | EC               | CORP              | US        |     16703 | NS      | $948730.40    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Commercial Real Estate Finance, Inc.               | Apollo Commercial Real Estate Finance, Inc.                           | CUSIP: 03762U105<br>LEI: 549300E0AN7M2AQHSY29 | Long             | EC               | CORP              | US        |     35642 | NS      | $433763.14    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent, Inc.                                            | Exponent, Inc.                                                        | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |      6316 | NS      | $647642.64    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PetMed Express, Inc.                                      | PetMed Express, Inc.                                                  | CUSIP: 716382106<br>LEI: 529900PGHW5ASJ1AZL48 | Long             | EC               | CORP              | US        |     30658 | NS      | $658533.84    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Qualys, Inc.                                              | Qualys, Inc.                                                          | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      6170 | NS      | $711771.20    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group, Inc. (The)                                  | Ensign Group, Inc. (The)                                              | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     10399 | NS      | $969706.75    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology, Inc.                                    | Amkor Technology, Inc.                                                | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     35290 | NS      | $1032585.40   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp, Inc.                                        | Hope Bancorp, Inc.                                                    | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     45937 | NS      | $592127.93    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Arconic Corp.                                             | Arconic Corp.                                                         | CUSIP: 03966V107<br>LEI: 549300B4YFWH3U74B152 | Long             | EC               | CORP              | US        |      1732 | NS      | $40719.32     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SJW Group                                                 | SJW Group                                                             | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9110 | NS      | $705205.10    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TreeHouse Foods, Inc.                                     | TreeHouse Foods, Inc.                                                 | CUSIP: 89469A104<br>LEI: 5493007M7EVHE470Q576 | Long             | EC               | CORP              | US        |     19743 | NS      | $956153.49    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva, Inc.                                             | Workiva, Inc.                                                         | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |      9939 | NS      | $860021.67    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Beauty Health Co. (The)                                   | Beauty Health Co. (The)                                               | CUSIP: 88331L108<br>LEI: 5493001Z2JZQT4C63C50 | Long             | EC               | CORP              | US        |      2894 | NS      | $32991.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| CEVA, Inc.                                                | CEVA, Inc.                                                            | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Long             | EC               | CORP              | US        |      7798 | NS      | $258269.76    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Evoqua Water Technologies Corp.                           | Evoqua Water Technologies Corp.                                       | CUSIP: 30057T105<br>LEI: 529900YQAOMEZRGRRP43 | Long             | EC               | CORP              | US        |     22740 | NS      | $1103117.40   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp.                                                 | HNI Corp.                                                             | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |     14956 | NS      | $475152.12    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| AtriCure, Inc.                                            | AtriCure, Inc.                                                        | CUSIP: 04963C209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12067 | NS      | $522259.76    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Livent Corp.                                              | Livent Corp.                                                          | CUSIP: 53814L108<br>LEI: 254900OOLQ2VNMZTJL47 | Long             | EC               | CORP              | US        |     29114 | NS      | $754634.88    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Plexus Corp.                                              | Plexus Corp.                                                          | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |      7450 | NS      | $715125.50    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Skin Enterprises, Inc.                                 | Nu Skin Enterprises, Inc., Class A                                    | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Long             | EC               | CORP              | US        |     16635 | NS      | $713308.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Big 5 Sporting Goods Corp.                                | Big 5 Sporting Goods Corp.                                            | CUSIP: 08915P101<br>LEI: 529900BFAM7VKQMKUC49 | Long             | EC               | CORP              | US        |     46691 | NS      | $466443.09    | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Ultra Clean Holdings, Inc.                                | Ultra Clean Holdings, Inc.                                            | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     24185 | NS      | $813825.25    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp.                                       | UMB Financial Corp.                                                   | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |      9211 | NS      | $830740.09    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Paper Corp.                                    | Clearwater Paper Corp.                                                | CUSIP: 18538R103<br>LEI: 549300HCVV19GXN4P292 | Long             | EC               | CORP              | US        |     16497 | NS      | $636949.17    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERTEC, Inc.                                             | EVERTEC, Inc.                                                         | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     10738 | NS      | $396661.72    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Pharmaceuticals, Inc.                               | Eagle Pharmaceuticals, Inc.                                           | CUSIP: 269796108<br>LEI: 549300TN20OLYTJVP152 | Long             | EC               | CORP              | US        |      4404 | NS      | $149471.76    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vector Group Ltd.                                         | Vector Group Ltd.                                                     | CUSIP: 92240M108<br>LEI: 549300TUIF4WWN6NDN50 | Long             | EC               | CORP              | US        |     74784 | NS      | $968452.80    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp.                               | Horace Mann Educators Corp.                                           | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |      7338 | NS      | $261306.18    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| US Silica Holdings, Inc.                                  | US Silica Holdings, Inc.                                              | CUSIP: 90346E103<br>LEI: 529900HOXGPM9F75C193 | Long             | EC               | CORP              | US        |     64932 | NS      | $794767.68    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Tennant Co.                                               | Tennant Co.                                                           | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |      1921 | NS      | $134719.73    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT Bancorp, Inc.                                         | NBT Bancorp, Inc.                                                     | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7142 | NS      | $280752.02    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection, Inc.                                | Resources Connection, Inc.                                            | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6268 | NS      | $108248.36    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Mortgage Trust, Inc.                           | Blackstone Mortgage Trust, Inc., Class A                              | CUSIP: 09257W100<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | EC               | CORP              | US        |     22927 | NS      | $546579.68    | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Consolidated Communications Holdings, Inc.                | Consolidated Communications Holdings, Inc.                            | CUSIP: 209034107<br>LEI: 529900F6S64KOO8CXH48 | Long             | EC               | CORP              | US        |     79836 | NS      | $347286.60    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries, Inc.                                      | UFP Industries, Inc.                                                  | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     12074 | NS      | $1129522.70   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Surmodics, Inc.                                           | Surmodics, Inc.                                                       | CUSIP: 868873100<br>LEI: 549300H76KXCAAGUS878 | Long             | EC               | CORP              | US        |      5680 | NS      | $159664.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog, Inc.                                                | Moog, Inc., Class A                                                   | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |      1918 | NS      | $182823.76    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co., Inc.                           | Simpson Manufacturing Co., Inc.                                       | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      7878 | NS      | $843812.58    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical, Inc.                                      | Avanos Medical, Inc.                                                  | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |      9134 | NS      | $279865.76    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Zumiez, Inc.                                              | Zumiez, Inc.                                                          | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |     20374 | NS      | $526260.42    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp.                                            | UniFirst Corp.                                                        | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |        33 | NS      | $6548.52      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Laureate Education, Inc.                                  | Laureate Education, Inc., Class A                                     | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |     63736 | NS      | $699821.28    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial, Inc.                                      | Axos Financial, Inc.                                                  | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |      2706 | NS      | $130212.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corp.                                     | Ryerson Holding Corp.                                                 | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |     18113 | NS      | $691373.21    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings, Inc.                                 | ExlService Holdings, Inc.                                             | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |      4944 | NS      | $843446.40    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics, Inc.                                          | Photronics, Inc.                                                      | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     38125 | NS      | $690825.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group, Inc.                                         | Uniti Group, Inc.                                                     | CUSIP: 91325V108<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |     58192 | NS      | $383485.28    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                                      | LXP Industrial Trust                                                  | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     70120 | NS      | $809886.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts, Inc.                              | Xenia Hotels & Resorts, Inc.                                          | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |      1065 | NS      | $15868.50     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Nutrition Ltd.                                  | Herbalife Nutrition Ltd.                                              | CUSIP: N/A<br>LEI: 549300BA7TYPBSZZIA41       | Long             | EC               | CORP              | KY        |     29791 | NS      | $523427.87    | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Apartment Investment and Management Co.                   | Apartment Investment and Management Co., Class A                      | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               | CORP              | US        |     81580 | NS      | $612665.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences, Inc.                                  | Pacira BioSciences, Inc.                                              | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14426 | NS      | $566509.02    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| John Bean Technologies Corp.                              | John Bean Technologies Corp.                                          | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |      1411 | NS      | $157651.03    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises, Inc.                                  | Apogee Enterprises, Inc.                                              | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |      7457 | NS      | $349285.88    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial, Inc.                                   | Jackson Financial, Inc., Class A                                      | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |     24669 | NS      | $1086422.76   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Nature's Sunshine Products, Inc.                          | Nature's Sunshine Products, Inc.                                      | CUSIP: 639027101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8602 | NS      | $90837.12     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp.                                      | Federal Signal Corp.                                                  | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |      8873 | NS      | $472487.25    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce, Inc.                             | Fresh Del Monte Produce, Inc.                                         | CUSIP: N/A<br>LEI: 529900I72V9F0FEZR228       | Long             | EC               | CORP              | KY        |     24444 | NS      | $699098.40    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp.                               | Sensient Technologies Corp.                                           | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     11745 | NS      | $888979.05    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Insperity, Inc.                                           | Insperity, Inc.                                                       | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |      4689 | NS      | $518368.95    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival, Inc.                                       | Shoe Carnival, Inc.                                                   | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27453 | NS      | $749741.43    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PLBY Group, Inc.                                          | PLBY Group, Inc.                                                      | CUSIP: 72814P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10410 | NS      | $30397.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Redwood Trust, Inc.                                       | Redwood Trust, Inc.                                                   | CUSIP: 758075402<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | EC               | CORP              | US        |     53013 | NS      | $443188.68    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Pennant Group, Inc. (The)                                 | Pennant Group, Inc. (The)                                             | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |     12746 | NS      | $164933.24    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sovos Brands, Inc.                                        | Sovos Brands, Inc.                                                    | CUSIP: 84612U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12483 | NS      | $169269.48    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Xencor, Inc.                                              | Xencor, Inc.                                                          | CUSIP: 98401F105<br>LEI: 549300V5IF65437JKG30 | Long             | EC               | CORP              | US        |      9570 | NS      | $315044.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment Trust                        | PennyMac Mortgage Investment Trust                                    | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |     11112 | NS      | $169458.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Corp.                           | Brookfield Infrastructure Corp., Class A                              | CUSIP: 11275Q107<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     20850 | NS      | $921987.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| RPT Realty                                                | RPT Realty                                                            | CUSIP: 74971D101<br>LEI: 549300T03GDH1L37S188 | Long             | EC               | CORP              | US        |     44701 | NS      | $468466.48    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Co. (The)                               | Simply Good Foods Co. (The)                                           | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24549 | NS      | $891128.70    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                                 | CNO Financial Group, Inc.                                             | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     41560 | NS      | $1070585.60   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems, Inc.                          | Telephone and Data Systems, Inc.                                      | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61719 | NS      | $825183.03    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp.                                  | Magnolia Oil & Gas Corp., Class A                                     | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34091 | NS      | $804888.51    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical, Inc.                            | Collegium Pharmaceutical, Inc.                                        | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |     20852 | NS      | $585524.16    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Duckhorn Portfolio, Inc. (The)                            | Duckhorn Portfolio, Inc. (The)                                        | CUSIP: 26414D106<br>LEI: 2549003BCT5CJSKJ9X51 | Long             | EC               | CORP              | US        |     34126 | NS      | $552158.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Brightsphere Investment Group, Inc.                       | Brightsphere Investment Group, Inc.                                   | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |     19087 | NS      | $447590.15    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR Real Estate Finance Trust, Inc.                       | KKR Real Estate Finance Trust, Inc.                                   | CUSIP: 48251K100<br>LEI: 549300K23AYZDZ2REL62 | Long             | EC               | CORP              | US        |     39097 | NS      | $622815.21    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DMC Global, Inc.                                          | DMC Global, Inc.                                                      | CUSIP: 23291C103<br>LEI: 549300CBDXD1Z5MRNG02 | Long             | EC               | CORP              | US        |      5754 | NS      | $130845.96    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| IDT Corp.                                                 | IDT Corp., Class B                                                    | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |     27220 | NS      | $799995.80    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Neogen Corp.                                              | Neogen Corp.                                                          | CUSIP: 640491106<br>LEI: 549300HJT9FC36N4UW43 | Long             | EC               | CORP              | US        |     24193 | NS      | $517972.13    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce, Inc.                                        | SPS Commerce, Inc.                                                    | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |      6937 | NS      | $943986.96    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust, Inc.                         | Four Corners Property Trust, Inc.                                     | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |     34694 | NS      | $997799.44    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TimkenSteel Corp.                                         | TimkenSteel Corp.                                                     | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |     38914 | NS      | $765438.38    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                                           | Whitestone                                                            | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22016 | NS      | $229186.56    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo, Inc.                                                | Gogo, Inc.                                                            | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Long             | EC               | CORP              | US        |     50570 | NS      | $848058.90    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer, Inc.                                | Super Micro Computer, Inc.                                            | CUSIP: 86800U104<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      3175 | NS      | $229647.75    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Ltd.                                      | Signet Jewelers Ltd.                                                  | CUSIP: N/A<br>LEI: 549300N3XPGE91WV7M22       | Long             | EC               | CORP              | BM        |     12900 | NS      | $990849.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Sleep Number Corp.                                        | Sleep Number Corp.                                                    | CUSIP: 83125X103<br>LEI: 529900W0TZQLBT2DSS66 | Long             | EC               | CORP              | US        |      2051 | NS      | $70513.38     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Genesco, Inc.                                             | Genesco, Inc.                                                         | CUSIP: 371532102<br>LEI: 549300VY2Q511P1K5P56 | Long             | EC               | CORP              | US        |     11674 | NS      | $563737.46    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Hain Celestial Group, Inc. (The)                          | Hain Celestial Group, Inc. (The)                                      | CUSIP: 405217100<br>LEI: 5493000S8QXWHLIXDP75 | Long             | EC               | CORP              | US        |     20832 | NS      | $427472.64    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd.                                       | Ichor Holdings Ltd.                                                   | CUSIP: N/A<br>LEI: 529900PS8R2JVLJ2H892       | Long             | EC               | CORP              | KY        |     10080 | NS      | $340704.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Merchants Corp.                                     | First Merchants Corp.                                                 | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |      4706 | NS      | $200663.84    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AdvanSix, Inc.                                            | AdvanSix, Inc.                                                        | CUSIP: 00773T101<br>LEI: 5493009TPRODMCAZLF67 | Long             | EC               | CORP              | US        |     18214 | NS      | $787573.36    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes, Inc.                                    | Federated Hermes, Inc.                                                | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     22712 | NS      | $892581.60    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp.                                              | Avista Corp.                                                          | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     19062 | NS      | $760573.80    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Ladder Capital Corp.                                      | Ladder Capital Corp.                                                  | CUSIP: 505743104<br>LEI: 549300Q6LLV2QCV67C06 | Long             | EC               | CORP              | US        |     34909 | NS      | $390980.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors, Inc.                            | Sunstone Hotel Investors, Inc.                                        | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |     59192 | NS      | $650520.08    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                       | Russell 2000 E-Mini Index                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        15 | NC      | $54478.05     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp.                                     | Kaiser Aluminum Corp.                                                 | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5711 | NS      | $499826.72    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp.                                         | Black Hills Corp.                                                     | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     13624 | NS      | $986105.12    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ranger Oil Corp.                                          | Ranger Oil Corp.                                                      | CUSIP: 70788V102<br>LEI: 5493003S4AVU6OSXB118 | Long             | EC               | CORP              | US        |     19349 | NS      | $812658.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks, Inc.                                    | Extreme Networks, Inc.                                                | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     47173 | NS      | $850529.19    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC, Inc.                                                 | RPC, Inc.                                                             | CUSIP: 749660106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25777 | NS      | $255707.84    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| WD-40 Co.                                                 | WD-40 Co.                                                             | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |      3984 | NS      | $695367.36    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Pebblebrook Hotel Trust                                   | Pebblebrook Hotel Trust                                               | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |     39724 | NS      | $651473.60    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix, Inc.                                               | Calix, Inc.                                                           | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     13679 | NS      | $720062.56    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands, Inc.                                          | Utz Brands, Inc.                                                      | CUSIP: 918090101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44702 | NS      | $744735.32    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| MRC Global, Inc.                                          | MRC Global, Inc.                                                      | CUSIP: 55345K103<br>LEI: 529900TSBPOLCLI2L582 | Long             | EC               | CORP              | US        |     23900 | NS      | $325040.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American States Water Co.                                 | American States Water Co.                                             | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |     10084 | NS      | $949610.28    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                                     | Urban Edge Properties                                                 | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37639 | NS      | $592814.25    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Anterix, Inc.                                             | Anterix, Inc.                                                         | CUSIP: 03676C100<br>LEI: 549300QIX2QHFGIEQG40 | Long             | EC               | CORP              | US        |      4319 | NS      | $155786.33    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin, Inc.                                 | Alexander & Baldwin, Inc.                                             | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22030 | NS      | $441040.60    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Partners, Inc.                                    | Surgery Partners, Inc.                                                | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |     21599 | NS      | $717086.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp                                             | First BanCorp                                                         | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     26954 | NS      | $362531.30    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands, Inc.                                     | BellRing Brands, Inc.                                                 | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     27977 | NS      | $793427.72    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                                     | Matador Resources Co.                                                 | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     14698 | NS      | $972419.68    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services Corp.                        | Stewart Information Services Corp.                                    | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |     16586 | NS      | $792313.22    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp.                                              | Rogers Corp.                                                          | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |      1465 | NS      | $204499.35    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Orthofix Medical, Inc.                                    | Orthofix Medical, Inc.                                                | CUSIP: 68752M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5155 | NS      | $111502.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Consolidated, Inc.                              | Coca-Cola Consolidated, Inc.                                          | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |      1708 | NS      | $865580.24    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Materion Corp.                                            | Materion Corp.                                                        | CUSIP: 576690101<br>LEI: 549300CJ5RI351SUYT02 | Long             | EC               | CORP              | US        |     10965 | NS      | $989591.25    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International, Inc.                           | CSG Systems International, Inc.                                       | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |     13139 | NS      | $784004.13    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group, Inc.                                       | Newmark Group, Inc., Class A                                          | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71578 | NS      | $613423.46    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Industrial Co.                                     | Global Industrial Co.                                                 | CUSIP: 37892E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1579 | NS      | $41511.91     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympic Steel, Inc.                                       | Olympic Steel, Inc.                                                   | CUSIP: 68162K106<br>LEI: 549300GQ061U6N6KWJ49 | Long             | EC               | CORP              | US        |      7096 | NS      | $313927.04    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcus Biosciences, Inc.                                   | Arcus Biosciences, Inc.                                               | CUSIP: 03969F109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9339 | NS      | $202002.57    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Arvinas, Inc.                                             | Arvinas, Inc.                                                         | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9981 | NS      | $327077.37    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Industries, Inc.                              | Worthington Industries, Inc.                                          | CUSIP: 981811102<br>LEI: 1WRCIANKYOIK6KYE5E82 | Long             | EC               | CORP              | US        |     16483 | NS      | $937388.21    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease, Inc.                                    | Global Net Lease, Inc.                                                | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |     27997 | NS      | $418555.15    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials, Inc.                                     | CSW Industrials, Inc.                                                 | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |      2561 | NS      | $346272.81    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp.                                       | CNX Resources Corp.                                                   | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     42206 | NS      | $706106.38    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Steelcase, Inc.                                           | Steelcase, Inc., Class A                                              | CUSIP: 858155203<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | EC               | CORP              | US        |     27142 | NS      | $211707.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Simulations Plus, Inc.                                    | Simulations Plus, Inc.                                                | CUSIP: 829214105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9761 | NS      | $401567.54    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanda Pharmaceuticals, Inc.                               | Vanda Pharmaceuticals, Inc.                                           | CUSIP: 921659108<br>LEI: 529900AY8VOOQBKJ0O70 | Long             | EC               | CORP              | US        |     25006 | NS      | $192046.08    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals, Inc.                            | Catalyst Pharmaceuticals, Inc.                                        | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     58838 | NS      | $911400.62    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corp.                                    | Fulton Financial Corp.                                                | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |     27474 | NS      | $459640.02    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mativ Holdings, Inc.                                      | Mativ Holdings, Inc.                                                  | CUSIP: 808541106<br>LEI: 549300Z1FU4IDULG1R21 | Long             | EC               | CORP              | US        |     33672 | NS      | $928000.32    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| 1st Source Corp.                                          | 1st Source Corp.                                                      | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2236 | NS      | $109988.84    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock, Inc.                                        | Shutterstock, Inc.                                                    | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     11005 | NS      | $828346.35    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MGE Energy, Inc.                                          | MGE Energy, Inc.                                                      | CUSIP: 55277P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8274 | NS      | $604912.14    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Perficient, Inc.                                          | Perficient, Inc.                                                      | CUSIP: 71375U101<br>LEI: 549300HTBXKL2755T650 | Long             | EC               | CORP              | US        |      8752 | NS      | $648873.28    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp.                                             | Sanmina Corp.                                                         | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |      9845 | NS      | $599855.85    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hub Group, Inc.                                           | Hub Group, Inc., Class A                                              | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2114 | NS      | $180260.78    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ruth's Hospitality Group, Inc.                            | Ruth's Hospitality Group, Inc.                                        | CUSIP: 783332109<br>LEI: 529900JQW9JP41OHOD14 | Long             | EC               | CORP              | US        |      3581 | NS      | $61987.11     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                                            | Ameris Bancorp                                                        | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     15269 | NS      | $720086.04    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properties, Inc.                    | Innovative Industrial Properties, Inc.                                | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |      4665 | NS      | $418823.70    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT, Inc.                              | Sabra Health Care REIT, Inc.                                          | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     75580 | NS      | $1020330.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Big Lots, Inc.                                            | Big Lots, Inc.                                                        | CUSIP: 089302103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11490 | NS      | $187976.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| US Physical Therapy, Inc.                                 | US Physical Therapy, Inc.                                             | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |      2629 | NS      | $260665.35    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CVR Energy, Inc.                                          | CVR Energy, Inc.                                                      | CUSIP: 12662P108<br>LEI: 529900SOYZIXZBTXB558 | Long             | EC               | CORP              | US        |     19064 | NS      | $632924.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Synaptics, Inc.                                           | Synaptics, Inc.                                                       | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |      4756 | NS      | $594642.68    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Tredegar Corp.                                            | Tredegar Corp.                                                        | CUSIP: 894650100<br>LEI: 54930003228ERHCH6K87 | Long             | EC               | CORP              | US        |     13506 | NS      | $163827.78    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dillard's, Inc.                                           | Dillard's, Inc., Class A                                              | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |      2831 | NS      | $1113460.61   | 0.34%             |  |  |  | No            |                  1 | On Loan: —       |
| Cohen & Steers, Inc.                                      | Cohen & Steers, Inc.                                                  | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Long             | EC               | CORP              | US        |      2768 | NS      | $203364.96    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Computer Programs and Systems, Inc.                       | Computer Programs and Systems, Inc.                                   | CUSIP: 205306103<br>LEI: 5493005Q6CJC78TGL805 | Long             | EC               | CORP              | US        |      6242 | NS      | $183389.96    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Capital Group, Inc.                                | Encore Capital Group, Inc.                                            | CUSIP: 292554102<br>LEI: 5493000UVC6H49CIH830 | Long             | EC               | CORP              | US        |      7490 | NS      | $417342.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Appfolio, Inc.                                            | Appfolio, Inc., Class A                                               | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      2848 | NS      | $319915.84    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PNM Resources, Inc.                                       | PNM Resources, Inc.                                                   | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     19742 | NS      | $976834.16    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| World Fuel Services Corp.                                 | World Fuel Services Corp.                                             | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |     29005 | NS      | $820841.50    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Physicians Realty Trust                                   | Physicians Realty Trust                                               | CUSIP: 71943U104<br>LEI: 549300ITOVH0OY7PZC34 | Long             | EC               | CORP              | US        |     47862 | NS      | $759091.32    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks, Inc.                                        | A10 Networks, Inc.                                                    | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     15988 | NS      | $247494.24    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients, Inc.                                     | MGP Ingredients, Inc.                                                 | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |      7800 | NS      | $760812.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Independence Realty Trust, Inc.                           | Independence Realty Trust, Inc.                                       | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     41927 | NS      | $789485.41    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp.                                     | First Financial Corp.                                                 | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2405 | NS      | $108032.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Turning Point Brands, Inc.                                | Turning Point Brands, Inc.                                            | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |     23072 | NS      | $535501.12    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Securities Lending Money Market Fund             | JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares | CUSIP: 46645V642<br>LEI: 5493002FD4HXUJXMRO62 | Long             | STIV             | RF                | US        |  13647996 | NS      | $13647996.16  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries, Inc.                                  | Patrick Industries, Inc.                                              | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |      5315 | NS      | $377205.55    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals, Inc.                           | Arrowhead Pharmaceuticals, Inc.                                       | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |     18432 | NS      | $644935.68    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp.                                              | Banner Corp.                                                          | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5530 | NS      | $358509.90    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Avid Technology, Inc.                                     | Avid Technology, Inc.                                                 | CUSIP: 05367P100<br>LEI: 549300PQGW3DXKJTQ914 | Long             | EC               | CORP              | US        |     17018 | NS      | $515815.58    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DHT Holdings, Inc.                                        | DHT Holdings, Inc.                                                    | CUSIP: N/A<br>LEI: 549300SMD6IVZYT74K40       | Long             | EC               | CORP              | MH        |     96246 | NS      | $824828.22    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products, Inc.                         | Installed Building Products, Inc.                                     | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      4424 | NS      | $487038.16    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sturm Ruger & Co., Inc.                                   | Sturm Ruger & Co., Inc.                                               | CUSIP: 864159108<br>LEI: 529900DV1BWFJSHFO847 | Long             | EC               | CORP              | US        |     15800 | NS      | $899020.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| SunOpta, Inc.                                             | SunOpta, Inc.                                                         | CUSIP: 8676EP108<br>LEI: 54930010CP0KEPPRPA40 | Long             | EC               | CORP              | CA        |     51709 | NS      | $422462.53    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Myers Industries, Inc.                                    | Myers Industries, Inc.                                                | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |      7050 | NS      | $169764.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey, Inc.                                      | Houlihan Lokey, Inc.                                                  | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      6588 | NS      | $652673.16    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis, Inc.                                          | Ziff Davis, Inc.                                                      | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |      9316 | NS      | $833595.68    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CONMED Corp.                                              | CONMED Corp.                                                          | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | EC               | CORP              | US        |      8240 | NS      | $789062.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co.                                     | Commercial Metals Co.                                                 | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     20073 | NS      | $1089361.71   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Trust Bancorp, Inc.                             | Community Trust Bancorp, Inc.                                         | CUSIP: 204149108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4042 | NS      | $174129.36    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes, Inc.                                           | M/I Homes, Inc.                                                       | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |     10754 | NS      | $643089.20    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals, Inc.                           | Amphastar Pharmaceuticals, Inc.                                       | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     21451 | NS      | $649107.26    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Water Solution, Inc.                                 | Aris Water Solution, Inc., Class A                                    | CUSIP: 04041L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18150 | NS      | $281143.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties, Inc.                      | Easterly Government Properties, Inc.                                  | CUSIP: 27616P103<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |     14450 | NS      | $234668.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Factory Holding Corp.                                 | Fox Factory Holding Corp.                                             | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |       506 | NS      | $59753.54     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nabors Industries Ltd.                                    | Nabors Industries Ltd.                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |      3717 | NS      | $659916.18    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust, Inc.                          | NexPoint Residential Trust, Inc.                                      | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |      3378 | NS      | $170589.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| QuinStreet, Inc.                                          | QuinStreet, Inc.                                                      | CUSIP: 74874Q100<br>LEI: 549300TP8MFBFPOS4Y78 | Long             | EC               | CORP              | US        |      4922 | NS      | $75454.26     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Factory Outlet Centers, Inc.                       | Tanger Factory Outlet Centers, Inc.                                   | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     50165 | NS      | $958653.15    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Asbury Automotive Group, Inc.                             | Asbury Automotive Group, Inc.                                         | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |      1519 | NS      | $334180.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties, Inc.                                      | LTC Properties, Inc.                                                  | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |     24834 | NS      | $947417.10    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| GrafTech International Ltd.                               | GrafTech International Ltd.                                           | CUSIP: 384313508<br>LEI: 549300GY32W00XP57351 | Long             | EC               | CORP              | US        |    118625 | NS      | $775807.50    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| National Presto Industries, Inc.                          | National Presto Industries, Inc.                                      | CUSIP: 637215104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2336 | NS      | $178960.96    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazer Homes USA, Inc.                                    | Beazer Homes USA, Inc.                                                | CUSIP: 07556Q881<br>LEI: 549300DUPYT2T0F60I45 | Long             | EC               | CORP              | US        |      7759 | NS      | $127014.83    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Retail Opportunity Investments Corp.                      | Retail Opportunity Investments Corp.                                  | CUSIP: 76131N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44770 | NS      | $708709.10    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ready Capital Corp.                                       | Ready Capital Corp.                                                   | CUSIP: 75574U101<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EC               | CORP              | US        |     28154 | NS      | $372477.42    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Brandywine Realty Trust                                   | Brandywine Realty Trust                                               | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               | CORP              | US        |     36708 | NS      | $240804.48    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corp.                                         | AdaptHealth Corp.                                                     | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24556 | NS      | $526235.08    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| STAAR Surgical Co.                                        | STAAR Surgical Co.                                                    | CUSIP: 852312305<br>LEI: 5299006LRHI7OJ8BY308 | Long             | EC               | CORP              | US        |      8025 | NS      | $566163.75    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals, Inc.                            | Supernus Pharmaceuticals, Inc.                                        | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     23381 | NS      | $958854.81    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Trust, Inc.                                  | Arbor Realty Trust, Inc.                                              | CUSIP: 038923108<br>LEI: 549300ASFUWYQO0RW077 | Long             | EC               | CORP              | US        |     34492 | NS      | $514965.56    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| South Jersey Industries, Inc.                             | South Jersey Industries, Inc.                                         | CUSIP: 838518108<br>LEI: 549300DJYWYT5VXLFA46 | Long             | EC               | CORP              | US        |     17388 | NS      | $627532.92    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Bluerock Homes Trust, Inc.                                | Bluerock Homes Trust, Inc.                                            | CUSIP: 09631H100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1867 | NS      | $40345.87     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| B&G Foods, Inc.                                           | B&G Foods, Inc.                                                       | CUSIP: 05508R106<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | EC               | CORP              | US        |     28948 | NS      | $405850.96    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products, Inc.                                     | Dorman Products, Inc.                                                 | CUSIP: 258278100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6101 | NS      | $592163.06    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire, Inc.                                               | Spire, Inc.                                                           | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |     13169 | NS      | $951065.18    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Engineered Carbons SA                               | Orion Engineered Carbons SA                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |     36343 | NS      | $763929.86    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes, Inc.                                              | Diodes, Inc.                                                          | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |     10719 | NS      | $956027.61    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| HB Fuller Co.                                             | HB Fuller Co.                                                         | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |     12310 | NS      | $850621.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BRC, Inc.                                                 | BRC, Inc., Class A                                                    | CUSIP: 05601U105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24162 | NS      | $159469.20    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Digi International, Inc.                                  | Digi International, Inc.                                              | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |      8704 | NS      | $295848.96    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ODP Corp. (The)                                           | ODP Corp. (The)                                                       | CUSIP: 88337F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10272 | NS      | $530035.20    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Citi Trends, Inc.                                         | Citi Trends, Inc.                                                     | CUSIP: 17306X102<br>LEI: 529900D06Q0FPHV34S87 | Long             | EC               | CORP              | US        |     10229 | NS      | $322008.92    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals, Inc.                                 | ANI Pharmaceuticals, Inc.                                             | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |      6361 | NS      | $284527.53    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta, Inc.                                             | Novanta, Inc.                                                         | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      5548 | NS      | $895835.56    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Costamare, Inc.                                           | Costamare, Inc.                                                       | CUSIP: N/A<br>LEI: 5299003L6NPTZ25LN818       | Long             | EC               | CORP              | MH        |     23155 | NS      | $235023.25    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp.                                            | EchoStar Corp., Class A                                               | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |     41801 | NS      | $782096.71    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services, Inc.                         | PennyMac Financial Services, Inc.                                     | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |     15410 | NS      | $1038942.20   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cerence, Inc.                                             | Cerence, Inc.                                                         | CUSIP: 156727109<br>LEI: 5493002WL2W5WMS89568 | Long             | EC               | CORP              | US        |     14079 | NS      | $345217.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation, Inc.                                     | Onto Innovation, Inc.                                                 | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     12220 | NS      | $961103.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp.                                           | ChampionX Corp.                                                       | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     21297 | NS      | $703226.94    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy, Inc.                                          | PBF Energy, Inc., Class A                                             | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |     20124 | NS      | $845006.76    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics, Inc.                                | Travere Therapeutics, Inc.                                            | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14288 | NS      | $320051.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy, Inc.                                     | Clearway Energy, Inc., Class C                                        | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     27531 | NS      | $930272.49    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund                | JPMorgan U.S. Government Money Market Fund, Share Class IM            | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |   3374023 | NS      | $3374023.46   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries, Inc.                                      | ABM Industries, Inc.                                                  | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     12277 | NS      | $575914.07    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics, Inc.                                | Corcept Therapeutics, Inc.                                            | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |     25733 | NS      | $588256.38    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Verint Systems, Inc.                                      | Verint Systems, Inc.                                                  | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Long             | EC               | CORP              | US        |     14123 | NS      | $536250.31    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries, Inc.                          | Advanced Energy Industries, Inc.                                      | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      9749 | NS      | $904122.26    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ProPetro Holding Corp.                                    | ProPetro Holding Corp.                                                | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40983 | NS      | $407780.85    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Resolute Forest Products, Inc.                            | Resolute Forest Products, Inc.                                        | CUSIP: 76117W109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23444 | NS      | $508969.24    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennedy-Wilson Holdings, Inc.                             | Kennedy-Wilson Holdings, Inc.                                         | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |     25695 | NS      | $459426.60    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Hostess Brands, Inc.                                      | Hostess Brands, Inc.                                                  | CUSIP: 44109J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36933 | NS      | $854260.29    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia, Inc.                                               | Adeia, Inc.                                                           | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53172 | NS      | $582233.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NuScale Power Corp.                                       | NuScale Power Corp.                                                   | CUSIP: 67079K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14139 | NS      | $150721.74    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| First Financial Bankshares, Inc.                          | First Financial Bankshares, Inc.                                      | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |      2714 | NS      | $96672.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp.                                      | Terreno Realty Corp.                                                  | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15358 | NS      | $989515.94    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TriNet Group, Inc.                                        | TriNet Group, Inc.                                                    | CUSIP: 896288107<br>LEI: 5299003FJVBETSFKE990 | Long             | EC               | CORP              | US        |      7454 | NS      | $562404.30    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                                   | Kite Realty Group Trust                                               | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43350 | NS      | $940695.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corp.                                   | Progress Software Corp.                                               | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |     16889 | NS      | $895792.56    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Corp.                          | Zurn Elkay Water Solutions Corp.                                      | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |     15225 | NS      | $332818.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PDL BioPharma, Inc.                                       | PDL BioPharma, Inc.                                                   | CUSIP: 69329Y104<br>LEI: FE4K0NQFI4D86DSOL165 | Long             | EC               | CORP              | US        |     22361 | NS      | $50535.86     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| OFG Bancorp                                               | OFG Bancorp                                                           | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     11772 | NS      | $333265.32    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co., Inc.                               | Franklin Electric Co., Inc.                                           | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |      9914 | NS      | $895234.20    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co. (The)                                        | Macerich Co. (The)                                                    | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     58209 | NS      | $799791.66    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewell Personal Care Co.                                | Edgewell Personal Care Co.                                            | CUSIP: 28035Q102<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | EC               | CORP              | US        |     21015 | NS      | $900702.90    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MDC Holdings, Inc.                                        | MDC Holdings, Inc.                                                    | CUSIP: 552676108<br>LEI: 5299005FV4VNV75R8R35 | Long             | EC               | CORP              | US        |      6302 | NS      | $237963.52    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Water Corp.                                         | Primo Water Corp.                                                     | CUSIP: 74167P108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     49558 | NS      | $775582.70    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection, Inc.                                       | PC Connection, Inc.                                                   | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |      4205 | NS      | $206171.15    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA, Inc.                                 | Comfort Systems USA, Inc.                                             | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      7697 | NS      | $931644.88    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson, Inc.                                              | Matson, Inc.                                                          | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     10860 | NS      | $718063.20    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kronos Worldwide, Inc.                                    | Kronos Worldwide, Inc.                                                | CUSIP: 50105F105<br>LEI: 549300OBZ34C65APL277 | Long             | EC               | CORP              | US        |     25343 | NS      | $295245.95    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| CONSOL Energy, Inc.                                       | CONSOL Energy, Inc.                                                   | CUSIP: 20854L108<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     12586 | NS      | $727848.38    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics, Inc.                               | Benchmark Electronics, Inc.                                           | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |     11763 | NS      | $329246.37    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rent-A-Center, Inc.                                       | Rent-A-Center, Inc.                                                   | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     18890 | NS      | $507952.10    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Triton International Ltd.                                 | Triton International Ltd.                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     14633 | NS      | $1033675.12   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| National Western Life Group, Inc.                         | National Western Life Group, Inc., Class A                            | CUSIP: 638517102<br>LEI: 549300HPXNVHFT1BJ192 | Long             | EC               | CORP              | US        |       306 | NS      | $84700.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreCivic, Inc.                                           | CoreCivic, Inc.                                                       | CUSIP: 21871N101<br>LEI: 529900JFA3K6PTLT8B15 | Long             | EC               | CORP              | US        |     48153 | NS      | $512347.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandy Spring Bancorp, Inc.                                | Sandy Spring Bancorp, Inc.                                            | CUSIP: 800363103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3994 | NS      | $134997.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Zynex, Inc.                                               | Zynex, Inc.                                                           | CUSIP: 98986M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9240 | NS      | $130561.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Selective Insurance Group, Inc.                           | Selective Insurance Group, Inc.                                       | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |      7447 | NS      | $707465.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics, Inc.                               | Halozyme Therapeutics, Inc.                                           | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     17256 | NS      | $893343.12    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter, Inc.                                        | Badger Meter, Inc.                                                    | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      8530 | NS      | $988627.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties, Inc.                        | Ryman Hospitality Properties, Inc.                                    | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |      9482 | NS      | $880782.98    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corp.                                          | Otter Tail Corp.                                                      | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12243 | NS      | $785388.45    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NeoGenomics, Inc.                                         | NeoGenomics, Inc.                                                     | CUSIP: 64049M209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29782 | NS      | $353810.16    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA, Inc.                                          | Murphy USA, Inc.                                                      | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      3299 | NS      | $897426.97    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of NT Butterfield & Son Ltd. (The)                   | Bank of NT Butterfield & Son Ltd. (The)                               | CUSIP: N/A<br>LEI: 549300V8RVM0EMTDPF28       | Long             | EC               | CORP              | BM        |     14961 | NS      | $478153.56    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Minerals Technologies, Inc.                               | Minerals Technologies, Inc.                                           | CUSIP: 603158106<br>LEI: 549300D3I1QU67GP6403 | Long             | EC               | CORP              | US        |     13032 | NS      | $905072.40    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidrick & Struggles International, Inc.                  | Heidrick & Struggles International, Inc.                              | CUSIP: 422819102<br>LEI: 5493006284N2J367VB57 | Long             | EC               | CORP              | US        |      5830 | NS      | $179330.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International, Inc.                                   | CRA International, Inc.                                               | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3908 | NS      | $464426.72    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor, Inc.                                          | FormFactor, Inc.                                                      | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     25785 | NS      | $725589.90    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings, Inc.                                    | Celsius Holdings, Inc.                                                | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8887 | NS      | $891543.84    | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Prestige Consumer Healthcare, Inc.                        | Prestige Consumer Healthcare, Inc.                                    | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15575 | NS      | $1024212.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Medical Holdings Corp.                             | Select Medical Holdings Corp.                                         | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27287 | NS      | $793233.09    | 0.24%             |  |  |  | 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        |    630888 | NS      | $630887.75    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Albany International Corp.                                | Albany International Corp., Class A                                   | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |      4419 | NS      | $495590.85    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors, Inc.                           | Academy Sports & Outdoors, Inc.                                       | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4656 | NS      | $272003.52    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TriMas Corp.                                              | TriMas Corp.                                                          | CUSIP: 896215209<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | EC               | CORP              | US        |      3091 | NS      | $95171.89     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus, Inc.                                             | Maximus, Inc.                                                         | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     12878 | NS      | $963918.30    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ScanSource, Inc.                                          | ScanSource, Inc.                                                      | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |      8208 | NS      | $270289.44    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems, Inc.                                    | NetScout Systems, Inc.                                                | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |     19636 | NS      | $630315.60    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust, Inc.                               | American Assets Trust, Inc.                                           | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4102 | NS      | $116742.92    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SMART Global Holdings, Inc.                               | SMART Global Holdings, Inc.                                           | CUSIP: N/A<br>LEI: 529900RDGHQY8XKXPN14       | Long             | EC               | CORP              | KY        |     20131 | NS      | $346051.89    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Financial Corp.                                  | Lakeland Financial Corp.                                              | CUSIP: 511656100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3415 | NS      | $241474.65    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings, Inc.                      | Cogent Communications Holdings, Inc.                                  | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14331 | NS      | $982676.67    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust, Inc.                          | Community Healthcare Trust, Inc.                                      | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |      6213 | NS      | $266413.44    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Wire Corp.                                         | Encore Wire Corp.                                                     | CUSIP: 292562105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6766 | NS      | $1092235.38   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial, Inc.                                  | Genworth Financial, Inc., Class A                                     | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |     64090 | NS      | $353776.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil and Gas, Inc.                                | Northern Oil and Gas, Inc.                                            | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     12061 | NS      | $404284.72    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries, Inc.                          | Kulicke & Soffa Industries, Inc.                                      | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     16842 | NS      | $860626.20    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings, Inc.                                  | Alarm.com Holdings, Inc.                                              | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |      3810 | NS      | $204216.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa, Inc.                                              | Arcosa, Inc.                                                          | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |     15972 | NS      | $946660.44    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co.                                                | Stepan Co.                                                            | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |      7297 | NS      | $801502.48    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Lancaster Colony Corp.                                    | Lancaster Colony Corp.                                                | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      4768 | NS      | $915026.88    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic, Inc.                                            | Harmonic, Inc.                                                        | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |     64517 | NS      | $849688.89    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp.                                        | Getty Realty Corp.                                                    | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |      7954 | NS      | $289764.22    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva, Inc.                                            | Innoviva, Inc.                                                        | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     43339 | NS      | $548238.35    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NETGEAR, Inc.                                             | NETGEAR, Inc.                                                         | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Long             | EC               | CORP              | US        |     15901 | NS      | $317542.97    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp.                                            | Ingevity Corp.                                                        | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     12464 | NS      | $1027532.16   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp.                                  | Perdoceo Education Corp.                                              | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     43515 | NS      | $651419.55    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mr. Cooper Group, Inc.                                    | Mr. Cooper Group, Inc.                                                | CUSIP: 62482R107<br>LEI: 549300KD8C6DPXYC2M26 | Long             | EC               | CORP              | US        |     21896 | NS      | $1006997.04   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Forward Air Corp.                                         | Forward Air Corp.                                                     | CUSIP: 349853101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5640 | NS      | $608274.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA LIGAND PHARMACE                                    | CONTRA LIGAND PHARMACE                                                | CUSIP: 532CNT029<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1382 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| LL Flooring Holdings, Inc.                                | LL Flooring Holdings, Inc.                                            | CUSIP: 55003T107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       357 | NS      | $2163.42      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Methode Electronics, Inc.                                 | Methode Electronics, Inc.                                             | CUSIP: 591520200<br>LEI: 529900VM413LGLUS3F07 | Long             | EC               | CORP              | US        |     14288 | NS      | $682109.12    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease, Inc.                                | Broadstone Net Lease, Inc.                                            | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     47376 | NS      | $857979.36    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings, Inc.                              | Southwest Gas Holdings, Inc.                                          | CUSIP: 844895102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10776 | NS      | $721237.68    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties, Inc.                             | Summit Hotel Properties, Inc.                                         | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |     30337 | NS      | $258471.24    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp.                                             | Sylvamo Corp.                                                         | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |     18041 | NS      | $857488.73    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery, Inc.                                     | Titan Machinery, Inc.                                                 | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |      4731 | NS      | $207880.14    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Aluminum Co.                                      | Century Aluminum Co.                                                  | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |     36204 | NS      | $406932.96    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corp.                                                 | CTS Corp.                                                             | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |     13713 | NS      | $610365.63    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy, Inc.                                       | MicroStrategy, Inc., Class A                                          | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      2426 | NS      | $610696.98    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Carpenter Technology Corp.                                | Carpenter Technology Corp.                                            | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     23762 | NS      | $1147466.98   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG RE Finance Trust, Inc.                                | TPG RE Finance Trust, Inc.                                            | CUSIP: 87266M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12392 | NS      | $107934.32    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp.                                              | SiTime Corp.                                                          | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4427 | NS      | $510123.21    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International, Inc.                                 | Enova International, Inc.                                             | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     12866 | NS      | $587332.90    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp                                   | First Financial Bancorp                                               | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |      9586 | NS      | $242813.38    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NOW, Inc.                                                 | NOW, Inc.                                                             | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     35865 | NS      | $503544.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Group, Inc.                              | Independent Bank Group, Inc.                                          | CUSIP: 45384B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6658 | NS      | $408135.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cowen, Inc.                                               | Cowen, Inc., Class A                                                  | CUSIP: 223622606<br>LEI: 5493008QI0EFC5WBED75 | Long             | EC               | CORP              | US        |     24476 | NS      | $951626.88    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| ASGN, Inc.                                                | ASGN, Inc.                                                            | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |      7887 | NS      | $717322.65    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Anika Therapeutics, Inc.                                  | Anika Therapeutics, Inc.                                              | CUSIP: 035255108<br>LEI: 529900R9LS3Z0O6QH455 | Long             | EC               | CORP              | US        |      3134 | NS      | $97185.34     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                                     | STAG Industrial, Inc.                                                 | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     27209 | NS      | $968640.40    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Caleres, Inc.                                             | Caleres, Inc.                                                         | CUSIP: 129500104<br>LEI: JFU6RQQJ8Z1CPOLBXQ18 | Long             | EC               | CORP              | US        |      2810 | NS      | $73116.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Metallurgical Resources, Inc.                       | Alpha Metallurgical Resources, Inc.                                   | CUSIP: 020764106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4132 | NS      | $664962.76    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes, Inc.                                        | Pitney Bowes, Inc.                                                    | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |     49201 | NS      | $212056.31    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co., Inc.                               | Phillips Edison & Co., Inc.                                           | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     25670 | NS      | $860458.40    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Simmons First National Corp.                              | Simmons First National Corp., Class A                                 | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |     23425 | NS      | $522611.75    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy, Inc.                                | Patterson-UTI Energy, Inc.                                            | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     54513 | NS      | $915818.40    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse, Inc. (The)                              | Chefs' Warehouse, Inc. (The)                                          | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     22075 | NS      | $843927.25    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Co.                                          | Hecla Mining Co.                                                      | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |    146840 | NS      | $906002.80    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co.                             | Portland General Electric Co.                                         | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     19819 | NS      | $942988.02    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Energy, Inc.                                       | Vertex Energy, Inc.                                                   | CUSIP: 92534K107<br>LEI: 549300TTMSREGCR7D585 | Long             | EC               | CORP              | US        |     69937 | NS      | $509141.36    | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| NextGen Healthcare, Inc.                                  | NextGen Healthcare, Inc.                                              | CUSIP: 65343C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27171 | NS      | $516792.42    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TTEC Holdings, Inc.                                       | TTEC Holdings, Inc.                                                   | CUSIP: 89854H102<br>LEI: GTJS1N8S8I28A7L4WG97 | Long             | EC               | CORP              | US        |      2019 | NS      | $102645.96    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Astec Industries, Inc.                                    | Astec Industries, Inc.                                                | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |      2739 | NS      | $120899.46    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp.                                     | Quaker Chemical Corp.                                                 | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      2044 | NS      | $402402.28    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas, Inc.                                             | ONE Gas, Inc.                                                         | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     11219 | NS      | $923996.84    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies, Inc.                                    | TTM Technologies, Inc.                                                | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     40482 | NS      | $636377.04    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GrowGeneration Corp.                                      | GrowGeneration Corp.                                                  | CUSIP: 39986L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36913 | NS      | $190471.08    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock, Inc.                                            | Archrock, Inc.                                                        | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     93384 | NS      | $925435.44    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp.                           | Atlantic Union Bankshares Corp.                                       | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9542 | NS      | $369179.98    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Market, Inc.                              | Sprouts Farmers Market, Inc.                                          | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     28806 | NS      | $920351.70    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| eXp World Holdings, Inc.                                  | eXp World Holdings, Inc.                                              | CUSIP: 30212W100<br>LEI: 549300TWVVZC283VEC32 | Long             | EC               | CORP              | US        |     28416 | NS      | $443005.44    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| BancFirst Corp.                                           | BancFirst Corp.                                                       | CUSIP: 05945F103<br>LEI: 549300EJEHGBP4IO2J30 | Long             | EC               | CORP              | US        |      1646 | NS      | $141769.98    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ, Inc.                                                 | AZZ, Inc.                                                             | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      7037 | NS      | $298931.76    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Lithium, Inc.                                    | Piedmont Lithium, Inc.                                                | CUSIP: 72016P105<br>LEI: 254900QJ73581MY1JN11 | Long             | EC               | CORP              | US        |     10875 | NS      | $746460.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources, Inc.                                   | Civitas Resources, Inc.                                               | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     12255 | NS      | $815570.25    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings, Inc.                        | Harmony Biosciences Holdings, Inc.                                    | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8739 | NS      | $420957.63    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanex Building Products Corp.                            | Quanex Building Products Corp.                                        | CUSIP: 747619104<br>LEI: 5493000TL30VL5WOAW87 | Long             | EC               | CORP              | US        |      7019 | NS      | $181721.91    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontline plc                                             | Frontline plc                                                         | CUSIP: N/A<br>LEI: 5493004BCIKYU1YL3H63       | Long             | EC               | CORP              | CY        |     58854 | NS      | $813950.82    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Haverty Furniture Cos., Inc.                              | Haverty Furniture Cos., Inc.                                          | CUSIP: 419596101<br>LEI: 529900CVFMMIRXZVPD70 | Long             | EC               | CORP              | US        |     19518 | NS      | $681568.56    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Emergent BioSolutions, Inc.                               | Emergent BioSolutions, Inc.                                           | CUSIP: 29089Q105<br>LEI: 549300YW6TUOX8BE5103 | Long             | EC               | CORP              | US        |      8967 | NS      | $118274.73    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ribbon Communications, Inc.                               | Ribbon Communications, Inc.                                           | CUSIP: 762544104<br>LEI: 549300L1E8Z8RL7CUL52 | Long             | EC               | CORP              | US        |      1005 | NS      | $3527.55      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus, Inc.                                              | Rambus, Inc.                                                          | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     25762 | NS      | $1042588.14   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| American Equity Investment Life Holding Co.               | American Equity Investment Life Holding Co.                           | CUSIP: 025676206<br>LEI: 549300RK5RZQ740FPL83 | Long             | EC               | CORP              | US        |     16856 | NS      | $803188.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Achillion Pharmaceuticals, Inc.                           | Achillion Pharmaceuticals, Inc.                                       | CUSIP: 004CVR031<br>LEI: 529900LZPJ796VSWZM38 | Long             |  | CORP              | US        |     12757 | NS      | $6378.50      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| EnPro Industries, Inc.                                    | EnPro Industries, Inc.                                                | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |      5347 | NS      | $647361.29    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp.                                              | Avient Corp.                                                          | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     20776 | NS      | $841843.52    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp                                   | Valley National Bancorp                                               | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |     77076 | NS      | $915662.88    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Camping World Holdings, Inc.                              | Camping World Holdings, Inc., Class A                                 | CUSIP: 13462K109<br>LEI: 549300E828QQI7MWI432 | Long             | EC               | CORP              | US        |     25813 | NS      | $655908.33    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| MaxLinear, Inc.                                           | MaxLinear, Inc.                                                       | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |     17994 | NS      | $741352.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Barnes Group, Inc.                                        | Barnes Group, Inc.                                                    | CUSIP: 067806109<br>LEI: G1MSYD2DQZX30V5DMX12 | Long             | EC               | CORP              | US        |      3983 | NS      | $176287.58    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle, Inc. (The)                                        | Buckle, Inc. (The)                                                    | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     22464 | NS      | $988416.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                         | RLJ Lodging Trust                                                     | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32075 | NS      | $403182.75    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares, Inc.                                     | Home BancShares, Inc.                                                 | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2427 | NS      | $57932.49     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Carriage Services, Inc.                                   | Carriage Services, Inc.                                               | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3125 | NS      | $101312.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group, Inc.                                         | EMCOR Group, Inc.                                                     | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      6382 | NS      | $946131.50    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes, Inc.                                    | Tri Pointe Homes, Inc.                                                | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11126 | NS      | $245773.34    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings, Inc.                                  | Energizer Holdings, Inc.                                              | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     22406 | NS      | $831262.60    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Resources, Inc.                                      | Arch Resources, Inc.                                                  | CUSIP: 03940R107<br>LEI: W47HVZ7Q6FXL86RELH91 | Long             | EC               | CORP              | US        |      4282 | NS      | $633821.64    | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Movado Group, Inc.                                        | Movado Group, Inc.                                                    | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     13896 | NS      | $491362.56    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp.                                        | SITE Centers Corp.                                                    | CUSIP: 82981J109<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |     56354 | NS      | $769232.10    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersons, Inc. (The)                                     | Andersons, Inc. (The)                                                 | CUSIP: 034164103<br>LEI: L38MWB8MVRFV7HVJPU11 | Long             | EC               | CORP              | US        |     17277 | NS      | $635448.06    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp.                                | Dynavax Technologies Corp.                                            | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |     51987 | NS      | $591612.06    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Compass Minerals International, Inc.                      | Compass Minerals International, Inc.                                  | CUSIP: 20451N101<br>LEI: 2549008X9G8XP7YJGC47 | Long             | EC               | CORP              | US        |     19683 | NS      | $918408.78    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                                            | LCI Industries                                                        | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |      4279 | NS      | $480189.38    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications, Inc.                              | Iridium Communications, Inc.                                          | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     18598 | NS      | $1112904.32   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SunCoke Energy, Inc.                                      | SunCoke Energy, Inc.                                                  | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |     80161 | NS      | $730266.71    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| American Vanguard Corp.                                   | American Vanguard Corp.                                               | CUSIP: 030371108<br>LEI: 529900GWI78WZA5M9783 | Long             | EC               | CORP              | US        |     23826 | NS      | $538229.34    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CompX International, Inc.                                 | CompX International, Inc.                                             | CUSIP: 20563P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2316 | NS      | $43865.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT, Inc.                                      | CareTrust REIT, Inc.                                                  | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     43312 | NS      | $897424.64    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp.                                               | Cabot Corp.                                                           | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     13244 | NS      | $997670.52    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | Hannon Armstrong Sustainable Infrastructure Capital, Inc.             | CUSIP: 41068X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15961 | NS      | $589120.51    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| PotlatchDeltic Corp.                                      | PotlatchDeltic Corp.                                                  | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |     20418 | NS      | $999461.10    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies, Inc.                     | Applied Industrial Technologies, Inc.                                 | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      7457 | NS      | $1067916.97   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor, Inc.                                       | Owens & Minor, Inc.                                                   | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |     25861 | NS      | $510496.14    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand, Inc.                                         | Hillenbrand, Inc.                                                     | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |     17578 | NS      | $823705.08    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Cambium Networks Corp.                                    | Cambium Networks Corp.                                                | CUSIP: N/A<br>LEI: 549300OYSIGK6OT5WL04       | Long             | EC               | CORP              | KY        |     24704 | NS      | $529406.72    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll, Inc.                                         | MillerKnoll, Inc.                                                     | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     16517 | NS      | $394425.96    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**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