# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0002071691-26-007417
**Filing Date:** 2026-3
**Character Count:** 298653
**Document Hash:** 8013068c75f9cb9315a1c680addf3da7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-007417.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0002071691-26-007417

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20261031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 26805555

**BUSINESS ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** (800) 480-4111

**MAIL ADDRESS:**
- **STREET 1:** 390 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## 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, 2026**

**(Unaudited)** 

---

| |
|:---|
| &nbsp;&nbsp; THE "UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS" <br> LIST ("the List") IS TO BE USED FOR REPORTING PURPOSES <br> ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS <br> ADVERTISING OR SALES LITERATURE WITH THE GENERAL <br> PUBLIC. The list is submitted for the general information of the <br> shareholders of the Fund. It is not authorized for distribution to <br> prospective investors in the Fund unless preceded or accompanied by a <br> prospectus. The list has been created from the books and records of <br> the Fund. Holdings are available 60 days after the fund's fiscal quarter, <br> using a trade date accounting convention, by contacting the appropriate <br> service center. The list is subject to change without notice. The list is <br> for informational purposes only and is not intended as an offer or <br> solicitation with respect to the purchase or sale of any security.<br>|
| &nbsp;&nbsp; JPMorgan Asset Management is the marketing name for the asset <br> management business of J.P. Morgan Chase & Co.<br>|
| J.P. Morgan Distribution Services, Inc., member FINRA. |
|© J.P. Morgan Chase & Co., 2026. |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — 99.4%** | **Common Stocks — 99.4%** | **Common Stocks — 99.4%** |
| **Aerospace & Defense — 0.3%** | **Aerospace & Defense — 0.3%** | **Aerospace & Defense — 0.3%** |
| &nbsp;&nbsp;&nbsp; Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 3763 | &nbsp;&nbsp;&nbsp;&nbsp; 1149032 |
| &nbsp;&nbsp;&nbsp; National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2657 | &nbsp;&nbsp;&nbsp;&nbsp; 338502 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1487534 |
| **Automobiles & Parts — 0.8%** | **Automobiles & Parts — 0.8%** | **Automobiles & Parts — 0.8%** |
| &nbsp;&nbsp;&nbsp; Dorman Products, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4021 | &nbsp;&nbsp;&nbsp;&nbsp; 499408 |
| &nbsp;&nbsp;&nbsp; Garrett Motion, Inc. (Switzerland) | &nbsp;&nbsp;&nbsp;&nbsp; 62942 | &nbsp;&nbsp;&nbsp;&nbsp; 1135474 |
| &nbsp;&nbsp;&nbsp; Phinia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26436 | &nbsp;&nbsp;&nbsp;&nbsp; 1881450 |
| &nbsp;&nbsp;&nbsp; Visteon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 10501 | &nbsp;&nbsp;&nbsp;&nbsp; 954121 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4470453 |
| **Banks — 5.3%** | **Banks — 5.3%** | **Banks — 5.3%** |
| &nbsp;&nbsp;&nbsp; 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6234 | &nbsp;&nbsp;&nbsp;&nbsp; 419735 |
| &nbsp;&nbsp;&nbsp; Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 20434 | &nbsp;&nbsp;&nbsp;&nbsp; 1647389 |
| &nbsp;&nbsp;&nbsp; Axos Financial, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 16783 | &nbsp;&nbsp;&nbsp;&nbsp; 1661349 |
| &nbsp;&nbsp;&nbsp; BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1973 | &nbsp;&nbsp;&nbsp;&nbsp; 216931 |
| &nbsp;&nbsp;&nbsp; Bank of NT Butterfield & Son Ltd. (The) (Bermuda) | &nbsp;&nbsp;&nbsp;&nbsp; 30012 | &nbsp;&nbsp;&nbsp;&nbsp; 1554622 |
| &nbsp;&nbsp;&nbsp; Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 22555 | &nbsp;&nbsp;&nbsp;&nbsp; 1154365 |
| &nbsp;&nbsp;&nbsp; City Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp; 2798 | &nbsp;&nbsp;&nbsp;&nbsp; 344406 |
| &nbsp;&nbsp;&nbsp; Community Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5777 | &nbsp;&nbsp;&nbsp;&nbsp; 356441 |
| &nbsp;&nbsp;&nbsp; First BanCorp (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp; 44193 | &nbsp;&nbsp;&nbsp;&nbsp; 977549 |
| &nbsp;&nbsp;&nbsp; First Busey Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12290 | &nbsp;&nbsp;&nbsp;&nbsp; 302949 |
| &nbsp;&nbsp;&nbsp; First Commonwealth Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 23890 | &nbsp;&nbsp;&nbsp;&nbsp; 430737 |
| &nbsp;&nbsp;&nbsp; First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 25666 | &nbsp;&nbsp;&nbsp;&nbsp; 737641 |
| &nbsp;&nbsp;&nbsp; First Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 5607 | &nbsp;&nbsp;&nbsp;&nbsp; 365352 |
| &nbsp;&nbsp;&nbsp; First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9696 | &nbsp;&nbsp;&nbsp;&nbsp; 385513 |
| &nbsp;&nbsp;&nbsp; Fulton Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 45722 | &nbsp;&nbsp;&nbsp;&nbsp; 944159 |
| &nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 17138 | &nbsp;&nbsp;&nbsp;&nbsp; 1179094 |
| &nbsp;&nbsp;&nbsp; Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 45383 | &nbsp;&nbsp;&nbsp;&nbsp; 1311569 |
| &nbsp;&nbsp;&nbsp; Hope Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 60994 | &nbsp;&nbsp;&nbsp;&nbsp; 730708 |
| &nbsp;&nbsp;&nbsp; International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 15822 | &nbsp;&nbsp;&nbsp;&nbsp; 1101844 |
| &nbsp;&nbsp;&nbsp; NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13643 | &nbsp;&nbsp;&nbsp;&nbsp; 606158 |
| &nbsp;&nbsp;&nbsp; Northwest Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 63431 | &nbsp;&nbsp;&nbsp;&nbsp; 816991 |
| &nbsp;&nbsp;&nbsp; OceanFirst Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 27489 | &nbsp;&nbsp;&nbsp;&nbsp; 515419 |
| &nbsp;&nbsp;&nbsp; OFG Bancorp (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp; 29030 | &nbsp;&nbsp;&nbsp;&nbsp; 1169909 |
| &nbsp;&nbsp;&nbsp; Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 67428 | &nbsp;&nbsp;&nbsp;&nbsp; 1647266 |
| &nbsp;&nbsp;&nbsp; Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8156 | &nbsp;&nbsp;&nbsp;&nbsp; 736405 |
| &nbsp;&nbsp;&nbsp; Renasant Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 20693 | &nbsp;&nbsp;&nbsp;&nbsp; 780333 |
| &nbsp;&nbsp;&nbsp; Republic Bancorp, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 4111 | &nbsp;&nbsp;&nbsp;&nbsp; 298500 |
| &nbsp;&nbsp;&nbsp; Simmons First National Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 32860 | &nbsp;&nbsp;&nbsp;&nbsp; 668044 |
| &nbsp;&nbsp;&nbsp; TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11094 | &nbsp;&nbsp;&nbsp;&nbsp; 481480 |
| &nbsp;&nbsp;&nbsp; Trustmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 13539 | &nbsp;&nbsp;&nbsp;&nbsp; 575678 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6034 | &nbsp;&nbsp;&nbsp;&nbsp; 767163 |
| &nbsp;&nbsp;&nbsp; United Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 39329 | &nbsp;&nbsp;&nbsp;&nbsp; 1664797 |
| &nbsp;&nbsp;&nbsp; WaFd, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 32202 | &nbsp;&nbsp;&nbsp;&nbsp; 1050429 |
| &nbsp;&nbsp;&nbsp; WesBanco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22849 | &nbsp;&nbsp;&nbsp;&nbsp; 806341 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 28407266 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| &nbsp;&nbsp;&nbsp; MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 34098 | &nbsp;&nbsp;&nbsp;&nbsp; 849381 |
| &nbsp;&nbsp;&nbsp; National Beverage Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 31228 | &nbsp;&nbsp;&nbsp;&nbsp; 1064250 |
| &nbsp;&nbsp;&nbsp; Vita Coco Co., Inc. (The) \* | &nbsp;&nbsp;&nbsp;&nbsp; 28521 | &nbsp;&nbsp;&nbsp;&nbsp; 1521596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3435227 |
| **Chemicals — 3.5%** | **Chemicals — 3.5%** | **Chemicals — 3.5%** |
| &nbsp;&nbsp;&nbsp; AdvanSix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 33613 | &nbsp;&nbsp;&nbsp;&nbsp; 532430 |
| &nbsp;&nbsp;&nbsp; American Vanguard Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 43550 | &nbsp;&nbsp;&nbsp;&nbsp; 221234 |
| &nbsp;&nbsp;&nbsp; Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 34693 | &nbsp;&nbsp;&nbsp;&nbsp; 1254152 |
| &nbsp;&nbsp;&nbsp; Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9197 | &nbsp;&nbsp;&nbsp;&nbsp; 1565054 |
| &nbsp;&nbsp;&nbsp; Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16720 | &nbsp;&nbsp;&nbsp;&nbsp; 1207017 |
| &nbsp;&nbsp;&nbsp; Ecovyst, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 163761 | &nbsp;&nbsp;&nbsp;&nbsp; 1737504 |
| &nbsp;&nbsp;&nbsp; Hawkins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8851 | &nbsp;&nbsp;&nbsp;&nbsp; 1152843 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 25559 | &nbsp;&nbsp;&nbsp;&nbsp; 1681527 |
| &nbsp;&nbsp;&nbsp; Innospec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12831 | &nbsp;&nbsp;&nbsp;&nbsp; 1048549 |
| &nbsp;&nbsp;&nbsp; Intrepid Potash, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 27993 | &nbsp;&nbsp;&nbsp;&nbsp; 919290 |
| &nbsp;&nbsp;&nbsp; LSB Industries, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 104739 | &nbsp;&nbsp;&nbsp;&nbsp; 973025 |
| &nbsp;&nbsp;&nbsp; Orion SA (Germany) | &nbsp;&nbsp;&nbsp;&nbsp; 41684 | &nbsp;&nbsp;&nbsp;&nbsp; 257607 |
| &nbsp;&nbsp;&nbsp; Perimeter Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 54479 | &nbsp;&nbsp;&nbsp;&nbsp; 1424626 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8510 | &nbsp;&nbsp;&nbsp;&nbsp; 1308327 |
| &nbsp;&nbsp;&nbsp; Rayonier Advanced Materials, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 112072 | &nbsp;&nbsp;&nbsp;&nbsp; 869679 |
| &nbsp;&nbsp;&nbsp; Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16743 | &nbsp;&nbsp;&nbsp;&nbsp; 1582548 |
| &nbsp;&nbsp;&nbsp; Stepan Co. | &nbsp;&nbsp;&nbsp;&nbsp; 17395 | &nbsp;&nbsp;&nbsp;&nbsp; 1002126 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18737538 |
| **Construction & Materials — 3.4%** | **Construction & Materials — 3.4%** | **Construction & Materials — 3.4%** |
| &nbsp;&nbsp;&nbsp; American Woodmark Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3838 | &nbsp;&nbsp;&nbsp;&nbsp; 227939 |
| &nbsp;&nbsp;&nbsp; Arcosa, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14580 | &nbsp;&nbsp;&nbsp;&nbsp; 1668973 |
| &nbsp;&nbsp;&nbsp; Argan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4975 | &nbsp;&nbsp;&nbsp;&nbsp; 1726872 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. | &nbsp;&nbsp;&nbsp;&nbsp; 11835 | &nbsp;&nbsp;&nbsp;&nbsp; 956386 |
| &nbsp;&nbsp;&nbsp; CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3967 | &nbsp;&nbsp;&nbsp;&nbsp; 1071011 |
| &nbsp;&nbsp;&nbsp; Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6807 | &nbsp;&nbsp;&nbsp;&nbsp; 489219 |
| &nbsp;&nbsp;&nbsp; Granite Construction, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14426 | &nbsp;&nbsp;&nbsp;&nbsp; 1741795 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 13725 | &nbsp;&nbsp;&nbsp;&nbsp; 1117901 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5750 | &nbsp;&nbsp;&nbsp;&nbsp; 1656805 |
| &nbsp;&nbsp;&nbsp; Masterbrand, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 30409 | &nbsp;&nbsp;&nbsp;&nbsp; 368557 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15713 | &nbsp;&nbsp;&nbsp;&nbsp; 425351 |
| &nbsp;&nbsp;&nbsp; Patrick Industries, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 13878 | &nbsp;&nbsp;&nbsp;&nbsp; 1750987 |
| &nbsp;&nbsp;&nbsp; Primoris Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12491 | &nbsp;&nbsp;&nbsp;&nbsp; 1851791 |
| &nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4859 | &nbsp;&nbsp;&nbsp;&nbsp; 1739085 |
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16612 | &nbsp;&nbsp;&nbsp;&nbsp; 1310521 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18103193 |
| **Consumer Services — 2.1%** | **Consumer Services — 2.1%** | **Consumer Services — 2.1%** |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 11110 | &nbsp;&nbsp;&nbsp;&nbsp; 1150440 |
| &nbsp;&nbsp;&nbsp; American Public Education, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 10041 | &nbsp;&nbsp;&nbsp;&nbsp; 419513 |
| &nbsp;&nbsp;&nbsp; Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12136 | &nbsp;&nbsp;&nbsp;&nbsp; 520756 |
| &nbsp;&nbsp;&nbsp; Cars.com, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 16792 | &nbsp;&nbsp;&nbsp;&nbsp; 190757 |
| &nbsp;&nbsp;&nbsp; Frontdoor, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8807 | &nbsp;&nbsp;&nbsp;&nbsp; 520582 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Consumer Services — continued** | **Consumer Services — continued** | **Consumer Services — continued** |
| &nbsp;&nbsp;&nbsp; Graham Holdings Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 1190 | &nbsp;&nbsp;&nbsp;&nbsp; 1388290 |
| &nbsp;&nbsp;&nbsp; Laureate Education, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 50235 | &nbsp;&nbsp;&nbsp;&nbsp; 1723060 |
| &nbsp;&nbsp;&nbsp; OPENLANE, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 39895 | &nbsp;&nbsp;&nbsp;&nbsp; 1198446 |
| &nbsp;&nbsp;&nbsp; Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 43991 | &nbsp;&nbsp;&nbsp;&nbsp; 1409032 |
| &nbsp;&nbsp;&nbsp; PROG Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13901 | &nbsp;&nbsp;&nbsp;&nbsp; 450948 |
| &nbsp;&nbsp;&nbsp; Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10315 | &nbsp;&nbsp;&nbsp;&nbsp; 876981 |
| &nbsp;&nbsp;&nbsp; Stride, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8783 | &nbsp;&nbsp;&nbsp;&nbsp; 743042 |
| &nbsp;&nbsp;&nbsp; Upbound Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25520 | &nbsp;&nbsp;&nbsp;&nbsp; 482328 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11074175 |
| **Electricity — 2.0%** | **Electricity — 2.0%** | **Electricity — 2.0%** |
| &nbsp;&nbsp;&nbsp; Hawaiian Electric Industries, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 113202 | &nbsp;&nbsp;&nbsp;&nbsp; 1734255 |
| &nbsp;&nbsp;&nbsp; MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16935 | &nbsp;&nbsp;&nbsp;&nbsp; 1352768 |
| &nbsp;&nbsp;&nbsp; NANO Nuclear Energy, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 30013 | &nbsp;&nbsp;&nbsp;&nbsp; 882232 |
| &nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 23807 | &nbsp;&nbsp;&nbsp;&nbsp; 1615543 |
| &nbsp;&nbsp;&nbsp; Oklo, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 13445 | &nbsp;&nbsp;&nbsp;&nbsp; 1070491 |
| &nbsp;&nbsp;&nbsp; Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11664 | &nbsp;&nbsp;&nbsp;&nbsp; 1457300 |
| &nbsp;&nbsp;&nbsp; Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp; 32240 | &nbsp;&nbsp;&nbsp;&nbsp; 1620060 |
| &nbsp;&nbsp;&nbsp; TXNM Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21782 | &nbsp;&nbsp;&nbsp;&nbsp; 1283395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11016044 |
| **Electronic & Electrical Equipment — 1.0%** | **Electronic & Electrical Equipment — 1.0%** | **Electronic & Electrical Equipment — 1.0%** |
| &nbsp;&nbsp;&nbsp; Atkore, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10265 | &nbsp;&nbsp;&nbsp;&nbsp; 712904 |
| &nbsp;&nbsp;&nbsp; Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6022 | &nbsp;&nbsp;&nbsp;&nbsp; 882705 |
| &nbsp;&nbsp;&nbsp; Belden, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9930 | &nbsp;&nbsp;&nbsp;&nbsp; 1166874 |
| &nbsp;&nbsp;&nbsp; EnerSys | &nbsp;&nbsp;&nbsp;&nbsp; 6528 | &nbsp;&nbsp;&nbsp;&nbsp; 1176281 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 5716 | &nbsp;&nbsp;&nbsp;&nbsp; 1710856 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5649620 |
| **Finance & Credit Services — 1.1%** | **Finance & Credit Services — 1.1%** | **Finance & Credit Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Enact Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26408 | &nbsp;&nbsp;&nbsp;&nbsp; 1050246 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 11493 | &nbsp;&nbsp;&nbsp;&nbsp; 1898299 |
| &nbsp;&nbsp;&nbsp; Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 2411 | &nbsp;&nbsp;&nbsp;&nbsp; 408182 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11915 | &nbsp;&nbsp;&nbsp;&nbsp; 1190547 |
| &nbsp;&nbsp;&nbsp; Radian Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 42801 | &nbsp;&nbsp;&nbsp;&nbsp; 1408153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5955427 |
| **Food Producers — 3.4%** | **Food Producers — 3.4%** | **Food Producers — 3.4%** |
| &nbsp;&nbsp;&nbsp; Andersons, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 27899 | &nbsp;&nbsp;&nbsp;&nbsp; 1729459 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 226708 | &nbsp;&nbsp;&nbsp;&nbsp; 990714 |
| &nbsp;&nbsp;&nbsp; Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18272 | &nbsp;&nbsp;&nbsp;&nbsp; 1526260 |
| &nbsp;&nbsp;&nbsp; Dole plc | &nbsp;&nbsp;&nbsp;&nbsp; 84686 | &nbsp;&nbsp;&nbsp;&nbsp; 1349048 |
| &nbsp;&nbsp;&nbsp; Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 41674 | &nbsp;&nbsp;&nbsp;&nbsp; 1652791 |
| &nbsp;&nbsp;&nbsp; Herbalife Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 127087 | &nbsp;&nbsp;&nbsp;&nbsp; 2190980 |
| &nbsp;&nbsp;&nbsp; J & J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11430 | &nbsp;&nbsp;&nbsp;&nbsp; 1085850 |
| &nbsp;&nbsp;&nbsp; John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10080 | &nbsp;&nbsp;&nbsp;&nbsp; 815472 |
| &nbsp;&nbsp;&nbsp; Marzetti Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 6893 | &nbsp;&nbsp;&nbsp;&nbsp; 1182632 |
| &nbsp;&nbsp;&nbsp; Medifast, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 50008 | &nbsp;&nbsp;&nbsp;&nbsp; 572092 |
| &nbsp;&nbsp;&nbsp; Nature's Sunshine Products, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 16207 | &nbsp;&nbsp;&nbsp;&nbsp; 408741 |
| &nbsp;&nbsp;&nbsp; Seneca Foods Corp., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 3309 | &nbsp;&nbsp;&nbsp;&nbsp; 394863 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Food Producers — continued** | **Food Producers — continued** | **Food Producers — continued** |
| &nbsp;&nbsp;&nbsp; Simply Good Foods Co. (The) \* | &nbsp;&nbsp;&nbsp;&nbsp; 54959 | &nbsp;&nbsp;&nbsp;&nbsp; 1031580 |
| &nbsp;&nbsp;&nbsp; SunOpta, Inc. (Canada) \* | &nbsp;&nbsp;&nbsp;&nbsp; 182400 | &nbsp;&nbsp;&nbsp;&nbsp; 835392 |
| &nbsp;&nbsp;&nbsp; TreeHouse Foods, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 44038 | &nbsp;&nbsp;&nbsp;&nbsp; 1085096 |
| &nbsp;&nbsp;&nbsp; Utz Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 66406 | &nbsp;&nbsp;&nbsp;&nbsp; 699919 |
| &nbsp;&nbsp;&nbsp; Vital Farms, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 32763 | &nbsp;&nbsp;&nbsp;&nbsp; 932107 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18482996 |
| **Gas, Water & Multi-utilities — 3.6%** | **Gas, Water & Multi-utilities — 3.6%** | **Gas, Water & Multi-utilities — 3.6%** |
| &nbsp;&nbsp;&nbsp; American States Water Co. | &nbsp;&nbsp;&nbsp;&nbsp; 14153 | &nbsp;&nbsp;&nbsp;&nbsp; 1032603 |
| &nbsp;&nbsp;&nbsp; Avista Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 39974 | &nbsp;&nbsp;&nbsp;&nbsp; 1650526 |
| &nbsp;&nbsp;&nbsp; Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 22370 | &nbsp;&nbsp;&nbsp;&nbsp; 1632563 |
| &nbsp;&nbsp;&nbsp; Brookfield Infrastructure Corp., Class A (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 33424 | &nbsp;&nbsp;&nbsp;&nbsp; 1599338 |
| &nbsp;&nbsp;&nbsp; California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp; 20256 | &nbsp;&nbsp;&nbsp;&nbsp; 905443 |
| &nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12052 | &nbsp;&nbsp;&nbsp;&nbsp; 1550851 |
| &nbsp;&nbsp;&nbsp; Consolidated Water Co. Ltd., Class D | &nbsp;&nbsp;&nbsp;&nbsp; 15120 | &nbsp;&nbsp;&nbsp;&nbsp; 572746 |
| &nbsp;&nbsp;&nbsp; Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 42712 | &nbsp;&nbsp;&nbsp;&nbsp; 1595293 |
| &nbsp;&nbsp;&nbsp; Middlesex Water Co. | &nbsp;&nbsp;&nbsp;&nbsp; 10231 | &nbsp;&nbsp;&nbsp;&nbsp; 535900 |
| &nbsp;&nbsp;&nbsp; New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 33897 | &nbsp;&nbsp;&nbsp;&nbsp; 1677224 |
| &nbsp;&nbsp;&nbsp; Northwest Natural Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp; 33597 | &nbsp;&nbsp;&nbsp;&nbsp; 1564276 |
| &nbsp;&nbsp;&nbsp; ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19775 | &nbsp;&nbsp;&nbsp;&nbsp; 1573299 |
| &nbsp;&nbsp;&nbsp; Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19795 | &nbsp;&nbsp;&nbsp;&nbsp; 1639422 |
| &nbsp;&nbsp;&nbsp; Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18965 | &nbsp;&nbsp;&nbsp;&nbsp; 1602353 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19131837 |
| **General Industrials — 1.2%** | **General Industrials — 1.2%** | **General Industrials — 1.2%** |
| &nbsp;&nbsp;&nbsp; Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18578 | &nbsp;&nbsp;&nbsp;&nbsp; 689801 |
| &nbsp;&nbsp;&nbsp; AZZ, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11539 | &nbsp;&nbsp;&nbsp;&nbsp; 1434183 |
| &nbsp;&nbsp;&nbsp; Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 13721 | &nbsp;&nbsp;&nbsp;&nbsp; 968977 |
| &nbsp;&nbsp;&nbsp; HB Fuller Co. | &nbsp;&nbsp;&nbsp;&nbsp; 1262 | &nbsp;&nbsp;&nbsp;&nbsp; 75846 |
| &nbsp;&nbsp;&nbsp; Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10163 | &nbsp;&nbsp;&nbsp;&nbsp; 210069 |
| &nbsp;&nbsp;&nbsp; Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 17614 | &nbsp;&nbsp;&nbsp;&nbsp; 1570464 |
| &nbsp;&nbsp;&nbsp; Standex International Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6288 | &nbsp;&nbsp;&nbsp;&nbsp; 1509120 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4637 | &nbsp;&nbsp;&nbsp;&nbsp; 161229 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6619689 |
| **Health Care Providers — 3.3%** | **Health Care Providers — 3.3%** | **Health Care Providers — 3.3%** |
| &nbsp;&nbsp;&nbsp; Addus HomeCare Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9699 | &nbsp;&nbsp;&nbsp;&nbsp; 1003652 |
| &nbsp;&nbsp;&nbsp; Astrana Health, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 23466 | &nbsp;&nbsp;&nbsp;&nbsp; 533617 |
| &nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 27636 | &nbsp;&nbsp;&nbsp;&nbsp; 1085266 |
| &nbsp;&nbsp;&nbsp; CorVel Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15072 | &nbsp;&nbsp;&nbsp;&nbsp; 1049463 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 8881 | &nbsp;&nbsp;&nbsp;&nbsp; 1524512 |
| &nbsp;&nbsp;&nbsp; Healthcare Services Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 48584 | &nbsp;&nbsp;&nbsp;&nbsp; 914351 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15602 | &nbsp;&nbsp;&nbsp;&nbsp; 1336623 |
| &nbsp;&nbsp;&nbsp; LifeMD, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 45094 | &nbsp;&nbsp;&nbsp;&nbsp; 146105 |
| &nbsp;&nbsp;&nbsp; National HealthCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4805 | &nbsp;&nbsp;&nbsp;&nbsp; 687644 |
| &nbsp;&nbsp;&nbsp; Nutex Health, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8839 | &nbsp;&nbsp;&nbsp;&nbsp; 1315155 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 46145 | &nbsp;&nbsp;&nbsp;&nbsp; 1568930 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 70246 | &nbsp;&nbsp;&nbsp;&nbsp; 1501859 |
| &nbsp;&nbsp;&nbsp; Pennant Group, Inc. (The) \* | &nbsp;&nbsp;&nbsp;&nbsp; 15627 | &nbsp;&nbsp;&nbsp;&nbsp; 431618 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Health Care Providers — continued** | **Health Care Providers — continued** | **Health Care Providers — continued** |
| &nbsp;&nbsp;&nbsp; RadNet, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 19920 | &nbsp;&nbsp;&nbsp;&nbsp; 1396392 |
| &nbsp;&nbsp;&nbsp; Select Medical Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 57392 | &nbsp;&nbsp;&nbsp;&nbsp; 863750 |
| &nbsp;&nbsp;&nbsp; Surgery Partners, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 39362 | &nbsp;&nbsp;&nbsp;&nbsp; 584919 |
| &nbsp;&nbsp;&nbsp; US Physical Therapy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9557 | &nbsp;&nbsp;&nbsp;&nbsp; 801546 |
| &nbsp;&nbsp;&nbsp; Waystar Holding Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 29993 | &nbsp;&nbsp;&nbsp;&nbsp; 796614 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17542016 |
| **Household Goods & Home Construction — 2.6%** | **Household Goods & Home Construction — 2.6%** | **Household Goods & Home Construction — 2.6%** |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 24194 | &nbsp;&nbsp;&nbsp;&nbsp; 742030 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6648 | &nbsp;&nbsp;&nbsp;&nbsp; 418691 |
| &nbsp;&nbsp;&nbsp; CompX International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4430 | &nbsp;&nbsp;&nbsp;&nbsp; 103219 |
| &nbsp;&nbsp;&nbsp; Ethan Allen Interiors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 40976 | &nbsp;&nbsp;&nbsp;&nbsp; 939580 |
| &nbsp;&nbsp;&nbsp; Green Brick Partners, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15632 | &nbsp;&nbsp;&nbsp;&nbsp; 1084704 |
| &nbsp;&nbsp;&nbsp; HNI Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 29053 | &nbsp;&nbsp;&nbsp;&nbsp; 1388443 |
| &nbsp;&nbsp;&nbsp; Interface, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 56242 | &nbsp;&nbsp;&nbsp;&nbsp; 1769936 |
| &nbsp;&nbsp;&nbsp; KB Home | &nbsp;&nbsp;&nbsp;&nbsp; 9382 | &nbsp;&nbsp;&nbsp;&nbsp; 539840 |
| &nbsp;&nbsp;&nbsp; La-Z-Boy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38071 | &nbsp;&nbsp;&nbsp;&nbsp; 1386165 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9091 | &nbsp;&nbsp;&nbsp;&nbsp; 1215467 |
| &nbsp;&nbsp;&nbsp; MillerKnoll, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28169 | &nbsp;&nbsp;&nbsp;&nbsp; 565633 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 22081 | &nbsp;&nbsp;&nbsp;&nbsp; 1345837 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 29413 | &nbsp;&nbsp;&nbsp;&nbsp; 980924 |
| &nbsp;&nbsp;&nbsp; Worthington Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 23544 | &nbsp;&nbsp;&nbsp;&nbsp; 1308340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13788809 |
| **Industrial Engineering — 0.7%** | **Industrial Engineering — 0.7%** | **Industrial Engineering — 0.7%** |
| &nbsp;&nbsp;&nbsp; Albany International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 8374 | &nbsp;&nbsp;&nbsp;&nbsp; 464673 |
| &nbsp;&nbsp;&nbsp; Enpro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6897 | &nbsp;&nbsp;&nbsp;&nbsp; 1646866 |
| &nbsp;&nbsp;&nbsp; Franklin Electric Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14731 | &nbsp;&nbsp;&nbsp;&nbsp; 1467502 |
| &nbsp;&nbsp;&nbsp; Hillenbrand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4540 | &nbsp;&nbsp;&nbsp;&nbsp; 144871 |
| &nbsp;&nbsp;&nbsp; Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp; 897 | &nbsp;&nbsp;&nbsp;&nbsp; 68253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3792165 |
| **Industrial Materials — 1.5%** | **Industrial Materials — 1.5%** | **Industrial Materials — 1.5%** |
| &nbsp;&nbsp;&nbsp; Clearwater Paper Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 43641 | &nbsp;&nbsp;&nbsp;&nbsp; 734042 |
| &nbsp;&nbsp;&nbsp; Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 29529 | &nbsp;&nbsp;&nbsp;&nbsp; 869924 |
| &nbsp;&nbsp;&nbsp; Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11968 | &nbsp;&nbsp;&nbsp;&nbsp; 1654935 |
| &nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 80494 | &nbsp;&nbsp;&nbsp;&nbsp; 969953 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19360 | &nbsp;&nbsp;&nbsp;&nbsp; 1273113 |
| &nbsp;&nbsp;&nbsp; Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 24804 | &nbsp;&nbsp;&nbsp;&nbsp; 1213908 |
| &nbsp;&nbsp;&nbsp; Tredegar Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 19147 | &nbsp;&nbsp;&nbsp;&nbsp; 163707 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12661 | &nbsp;&nbsp;&nbsp;&nbsp; 1307628 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8187210 |
| **Industrial Metals & Mining — 3.4%** | **Industrial Metals & Mining — 3.4%** | **Industrial Metals & Mining — 3.4%** |
| &nbsp;&nbsp;&nbsp; Century Aluminum Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 49874 | &nbsp;&nbsp;&nbsp;&nbsp; 2260788 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp; 23502 | &nbsp;&nbsp;&nbsp;&nbsp; 1806599 |
| &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 42855 | &nbsp;&nbsp;&nbsp;&nbsp; 1070518 |
| &nbsp;&nbsp;&nbsp; Constellium SE \* | &nbsp;&nbsp;&nbsp;&nbsp; 78149 | &nbsp;&nbsp;&nbsp;&nbsp; 1756008 |
| &nbsp;&nbsp;&nbsp; Energy Fuels, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 83260 | &nbsp;&nbsp;&nbsp;&nbsp; 1868354 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 14779 | &nbsp;&nbsp;&nbsp;&nbsp; 1812201 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Industrial Metals & Mining — continued** | **Industrial Metals & Mining — continued** | **Industrial Metals & Mining — continued** |
| &nbsp;&nbsp;&nbsp; Metallus, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 40036 | &nbsp;&nbsp;&nbsp;&nbsp; 798718 |
| &nbsp;&nbsp;&nbsp; Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15999 | &nbsp;&nbsp;&nbsp;&nbsp; 769392 |
| &nbsp;&nbsp;&nbsp; Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 54226 | &nbsp;&nbsp;&nbsp;&nbsp; 1530258 |
| &nbsp;&nbsp;&nbsp; United States Antimony Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 219630 | &nbsp;&nbsp;&nbsp;&nbsp; 1609888 |
| &nbsp;&nbsp;&nbsp; Uranium Energy Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 113988 | &nbsp;&nbsp;&nbsp;&nbsp; 1965153 |
| &nbsp;&nbsp;&nbsp; Worthington Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22330 | &nbsp;&nbsp;&nbsp;&nbsp; 898336 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 18146213 |
| **Industrial Support Services — 2.0%** | **Industrial Support Services — 2.0%** | **Industrial Support Services — 2.0%** |
| &nbsp;&nbsp;&nbsp; ABM Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22461 | &nbsp;&nbsp;&nbsp;&nbsp; 1034105 |
| &nbsp;&nbsp;&nbsp; ASGN, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9681 | &nbsp;&nbsp;&nbsp;&nbsp; 504283 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc., REIT \* | &nbsp;&nbsp;&nbsp;&nbsp; 68967 | &nbsp;&nbsp;&nbsp;&nbsp; 1277959 |
| &nbsp;&nbsp;&nbsp; CRA International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6901 | &nbsp;&nbsp;&nbsp;&nbsp; 1303875 |
| &nbsp;&nbsp;&nbsp; Cross Country Healthcare, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 13741 | &nbsp;&nbsp;&nbsp;&nbsp; 128066 |
| &nbsp;&nbsp;&nbsp; Donnelley Financial Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 6591 | &nbsp;&nbsp;&nbsp;&nbsp; 341084 |
| &nbsp;&nbsp;&nbsp; DXP Enterprises, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2787 | &nbsp;&nbsp;&nbsp;&nbsp; 362449 |
| &nbsp;&nbsp;&nbsp; EVERTEC, Inc. (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp; 18578 | &nbsp;&nbsp;&nbsp;&nbsp; 557526 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. (The), REIT \* | &nbsp;&nbsp;&nbsp;&nbsp; 53641 | &nbsp;&nbsp;&nbsp;&nbsp; 857183 |
| &nbsp;&nbsp;&nbsp; Korn Ferry | &nbsp;&nbsp;&nbsp;&nbsp; 12680 | &nbsp;&nbsp;&nbsp;&nbsp; 880880 |
| &nbsp;&nbsp;&nbsp; Maximus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16546 | &nbsp;&nbsp;&nbsp;&nbsp; 1562604 |
| &nbsp;&nbsp;&nbsp; Pitney Bowes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 88094 | &nbsp;&nbsp;&nbsp;&nbsp; 918820 |
| &nbsp;&nbsp;&nbsp; Resources Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3104 | &nbsp;&nbsp;&nbsp;&nbsp; 14061 |
| &nbsp;&nbsp;&nbsp; Target Hospitality Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 23630 | &nbsp;&nbsp;&nbsp;&nbsp; 162811 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11984 | &nbsp;&nbsp;&nbsp;&nbsp; 733900 |
| &nbsp;&nbsp;&nbsp; UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 630 | &nbsp;&nbsp;&nbsp;&nbsp; 135450 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10775056 |
| **Industrial Transportation — 3.3%** | **Industrial Transportation — 3.3%** | **Industrial Transportation — 3.3%** |
| &nbsp;&nbsp;&nbsp; ArcBest Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9326 | &nbsp;&nbsp;&nbsp;&nbsp; 841392 |
| &nbsp;&nbsp;&nbsp; Ardmore Shipping Corp. (Ireland) | &nbsp;&nbsp;&nbsp;&nbsp; 39051 | &nbsp;&nbsp;&nbsp;&nbsp; 504539 |
| &nbsp;&nbsp;&nbsp; Costamare Bulkers Holdings Ltd. (Monaco) \* | &nbsp;&nbsp;&nbsp;&nbsp; 6855 | &nbsp;&nbsp;&nbsp;&nbsp; 113313 |
| &nbsp;&nbsp;&nbsp; Costamare, Inc. (Monaco) | &nbsp;&nbsp;&nbsp;&nbsp; 62452 | &nbsp;&nbsp;&nbsp;&nbsp; 1047945 |
| &nbsp;&nbsp;&nbsp; DHT Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 108855 | &nbsp;&nbsp;&nbsp;&nbsp; 1559892 |
| &nbsp;&nbsp;&nbsp; Dorian LPG Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 30063 | &nbsp;&nbsp;&nbsp;&nbsp; 887760 |
| &nbsp;&nbsp;&nbsp; Federal Signal Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 13034 | &nbsp;&nbsp;&nbsp;&nbsp; 1408845 |
| &nbsp;&nbsp;&nbsp; FLEX LNG Ltd. (Norway) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 16477 | &nbsp;&nbsp;&nbsp;&nbsp; 439936 |
| &nbsp;&nbsp;&nbsp; GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 8989 | &nbsp;&nbsp;&nbsp;&nbsp; 1635189 |
| &nbsp;&nbsp;&nbsp; Genco Shipping & Trading Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 27790 | &nbsp;&nbsp;&nbsp;&nbsp; 580811 |
| &nbsp;&nbsp;&nbsp; Hub Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 8454 | &nbsp;&nbsp;&nbsp;&nbsp; 402241 |
| &nbsp;&nbsp;&nbsp; International Seaways, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21640 | &nbsp;&nbsp;&nbsp;&nbsp; 1290826 |
| &nbsp;&nbsp;&nbsp; Matson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10196 | &nbsp;&nbsp;&nbsp;&nbsp; 1634419 |
| &nbsp;&nbsp;&nbsp; McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp; 7703 | &nbsp;&nbsp;&nbsp;&nbsp; 860348 |
| &nbsp;&nbsp;&nbsp; Nordic American Tankers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 64454 | &nbsp;&nbsp;&nbsp;&nbsp; 268129 |
| &nbsp;&nbsp;&nbsp; REV Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12539 | &nbsp;&nbsp;&nbsp;&nbsp; 801242 |
| &nbsp;&nbsp;&nbsp; Scorpio Tankers, Inc. (Monaco) | &nbsp;&nbsp;&nbsp;&nbsp; 18683 | &nbsp;&nbsp;&nbsp;&nbsp; 1188612 |
| &nbsp;&nbsp;&nbsp; Teekay Corp. Ltd. (Bermuda) | &nbsp;&nbsp;&nbsp;&nbsp; 76748 | &nbsp;&nbsp;&nbsp;&nbsp; 785132 |
| &nbsp;&nbsp;&nbsp; Teekay Tankers Ltd., Class A (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 23027 | &nbsp;&nbsp;&nbsp;&nbsp; 1485702 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Industrial Transportation — continued** | **Industrial Transportation — continued** | **Industrial Transportation — continued** |
| &nbsp;&nbsp;&nbsp; Tingo Group, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 827098 | &nbsp;&nbsp;&nbsp;&nbsp; 7237 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 15346 | &nbsp;&nbsp;&nbsp;&nbsp; 155455 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17898965 |
| **Investment Banking & Brokerage Services — 0.9%** | **Investment Banking & Brokerage Services — 0.9%** | **Investment Banking & Brokerage Services — 0.9%** |
| &nbsp;&nbsp;&nbsp; Acadian Asset Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6606 | &nbsp;&nbsp;&nbsp;&nbsp; 366104 |
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 17046 | &nbsp;&nbsp;&nbsp;&nbsp; 758888 |
| &nbsp;&nbsp;&nbsp; Moelis & Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 20795 | &nbsp;&nbsp;&nbsp;&nbsp; 1490378 |
| &nbsp;&nbsp;&nbsp; StoneX Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9264 | &nbsp;&nbsp;&nbsp;&nbsp; 1039977 |
| &nbsp;&nbsp;&nbsp; Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 14248 | &nbsp;&nbsp;&nbsp;&nbsp; 1004911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4660258 |
| **Leisure Goods — 0.4%** | **Leisure Goods — 0.4%** | **Leisure Goods — 0.4%** |
| &nbsp;&nbsp;&nbsp; LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp; 6986 | &nbsp;&nbsp;&nbsp;&nbsp; 1024776 |
| &nbsp;&nbsp;&nbsp; Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 55386 | &nbsp;&nbsp;&nbsp;&nbsp; 604815 |
| &nbsp;&nbsp;&nbsp; Sturm Ruger & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16142 | &nbsp;&nbsp;&nbsp;&nbsp; 592250 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2221841 |
| **Life Insurance — 0.9%** | **Life Insurance — 0.9%** | **Life Insurance — 0.9%** |
| &nbsp;&nbsp;&nbsp; CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38335 | &nbsp;&nbsp;&nbsp;&nbsp; 1611987 |
| &nbsp;&nbsp;&nbsp; Genworth Financial, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 155351 | &nbsp;&nbsp;&nbsp;&nbsp; 1295627 |
| &nbsp;&nbsp;&nbsp; Jackson Financial, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15961 | &nbsp;&nbsp;&nbsp;&nbsp; 1898082 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4805696 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 94873 | &nbsp;&nbsp;&nbsp;&nbsp; 427877 |
| &nbsp;&nbsp;&nbsp; Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7126 | &nbsp;&nbsp;&nbsp;&nbsp; 249196 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 75881 | &nbsp;&nbsp;&nbsp;&nbsp; 1453880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2130953 |
| **Medical Equipment & Services — 2.1%** | **Medical Equipment & Services — 2.1%** | **Medical Equipment & Services — 2.1%** |
| &nbsp;&nbsp;&nbsp; AdaptHealth Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 37371 | &nbsp;&nbsp;&nbsp;&nbsp; 375579 |
| &nbsp;&nbsp;&nbsp; Anika Therapeutics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4781 | &nbsp;&nbsp;&nbsp;&nbsp; 44129 |
| &nbsp;&nbsp;&nbsp; Avanos Medical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 14299 | &nbsp;&nbsp;&nbsp;&nbsp; 190463 |
| &nbsp;&nbsp;&nbsp; CONMED Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11978 | &nbsp;&nbsp;&nbsp;&nbsp; 459835 |
| &nbsp;&nbsp;&nbsp; Fulgent Genetics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15254 | &nbsp;&nbsp;&nbsp;&nbsp; 399655 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 12399 | &nbsp;&nbsp;&nbsp;&nbsp; 826517 |
| &nbsp;&nbsp;&nbsp; ICU Medical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7540 | &nbsp;&nbsp;&nbsp;&nbsp; 1130246 |
| &nbsp;&nbsp;&nbsp; Integer Holdings Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 12281 | &nbsp;&nbsp;&nbsp;&nbsp; 1066728 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 12073 | &nbsp;&nbsp;&nbsp;&nbsp; 807925 |
| &nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11300 | &nbsp;&nbsp;&nbsp;&nbsp; 960161 |
| &nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15346 | &nbsp;&nbsp;&nbsp;&nbsp; 1244407 |
| &nbsp;&nbsp;&nbsp; Myriad Genetics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 20123 | &nbsp;&nbsp;&nbsp;&nbsp; 113091 |
| &nbsp;&nbsp;&nbsp; NeoGenomics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 30352 | &nbsp;&nbsp;&nbsp;&nbsp; 366045 |
| &nbsp;&nbsp;&nbsp; Omnicell, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 24772 | &nbsp;&nbsp;&nbsp;&nbsp; 1201442 |
| &nbsp;&nbsp;&nbsp; OraSure Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 78148 | &nbsp;&nbsp;&nbsp;&nbsp; 218033 |
| &nbsp;&nbsp;&nbsp; STAAR Surgical Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7571 | &nbsp;&nbsp;&nbsp;&nbsp; 143470 |
| &nbsp;&nbsp;&nbsp; UFP Technologies, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 5539 | &nbsp;&nbsp;&nbsp;&nbsp; 1391064 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 39639 | &nbsp;&nbsp;&nbsp;&nbsp; 552568 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11491358 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Mortgage Real Estate Investment Trusts — 1.1%** | **Mortgage Real Estate Investment Trusts — 1.1%** | **Mortgage Real Estate Investment Trusts — 1.1%** |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28602 | &nbsp;&nbsp;&nbsp;&nbsp; 309188 |
| &nbsp;&nbsp;&nbsp; Ares Commercial Real Estate Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 47702 | &nbsp;&nbsp;&nbsp;&nbsp; 248527 |
| &nbsp;&nbsp;&nbsp; Chimera Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 17872 | &nbsp;&nbsp;&nbsp;&nbsp; 220719 |
| &nbsp;&nbsp;&nbsp; Dynex Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 100702 | &nbsp;&nbsp;&nbsp;&nbsp; 1397744 |
| &nbsp;&nbsp;&nbsp; Ellington Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 97050 | &nbsp;&nbsp;&nbsp;&nbsp; 1247093 |
| &nbsp;&nbsp;&nbsp; Ladder Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 75534 | &nbsp;&nbsp;&nbsp;&nbsp; 828608 |
| &nbsp;&nbsp;&nbsp; MFA Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 82517 | &nbsp;&nbsp;&nbsp;&nbsp; 795464 |
| &nbsp;&nbsp;&nbsp; PennyMac Mortgage Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp; 60192 | &nbsp;&nbsp;&nbsp;&nbsp; 712071 |
| &nbsp;&nbsp;&nbsp; Redwood Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5467 | &nbsp;&nbsp;&nbsp;&nbsp; 29959 |
| &nbsp;&nbsp;&nbsp; Safehold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15681 | &nbsp;&nbsp;&nbsp;&nbsp; 221259 |
| &nbsp;&nbsp;&nbsp; TPG RE Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5565 | &nbsp;&nbsp;&nbsp;&nbsp; 50252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6060884 |
| **Non-life Insurance — 0.8%** | **Non-life Insurance — 0.8%** | **Non-life Insurance — 0.8%** |
| &nbsp;&nbsp;&nbsp; Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9743 | &nbsp;&nbsp;&nbsp;&nbsp; 424990 |
| &nbsp;&nbsp;&nbsp; Essent Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 24931 | &nbsp;&nbsp;&nbsp;&nbsp; 1568659 |
| &nbsp;&nbsp;&nbsp; Hamilton Insurance Group Ltd., Class B (Bermuda) \* | &nbsp;&nbsp;&nbsp;&nbsp; 17586 | &nbsp;&nbsp;&nbsp;&nbsp; 488011 |
| &nbsp;&nbsp;&nbsp; Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6400 | &nbsp;&nbsp;&nbsp;&nbsp; 286784 |
| &nbsp;&nbsp;&nbsp; NMI Holdings, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 33246 | &nbsp;&nbsp;&nbsp;&nbsp; 1287285 |
| &nbsp;&nbsp;&nbsp; Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 749 | &nbsp;&nbsp;&nbsp;&nbsp; 58946 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6674 | &nbsp;&nbsp;&nbsp;&nbsp; 450028 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4564703 |
| **Non-Renewable Energy — 7.1%** | **Non-Renewable Energy — 7.1%** | **Non-Renewable Energy — 7.1%** |
| &nbsp;&nbsp;&nbsp; Alpha Metallurgical Resources, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5047 | &nbsp;&nbsp;&nbsp;&nbsp; 1058861 |
| &nbsp;&nbsp;&nbsp; Archrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 56045 | &nbsp;&nbsp;&nbsp;&nbsp; 1658372 |
| &nbsp;&nbsp;&nbsp; Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 22472 | &nbsp;&nbsp;&nbsp;&nbsp; 1263601 |
| &nbsp;&nbsp;&nbsp; California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 26688 | &nbsp;&nbsp;&nbsp;&nbsp; 1427808 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 38313 | &nbsp;&nbsp;&nbsp;&nbsp; 1486544 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 56899 | &nbsp;&nbsp;&nbsp;&nbsp; 1385491 |
| &nbsp;&nbsp;&nbsp; Core Natural Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18465 | &nbsp;&nbsp;&nbsp;&nbsp; 1761192 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 53060 | &nbsp;&nbsp;&nbsp;&nbsp; 518396 |
| &nbsp;&nbsp;&nbsp; DNOW, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 111549 | &nbsp;&nbsp;&nbsp;&nbsp; 1694429 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7185 | &nbsp;&nbsp;&nbsp;&nbsp; 1466962 |
| &nbsp;&nbsp;&nbsp; Hallador Energy Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 57021 | &nbsp;&nbsp;&nbsp;&nbsp; 1054318 |
| &nbsp;&nbsp;&nbsp; Helix Energy Solutions Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 119119 | &nbsp;&nbsp;&nbsp;&nbsp; 945805 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings, Inc., Class A (a) | &nbsp;&nbsp;&nbsp;&nbsp; 23106 | &nbsp;&nbsp;&nbsp;&nbsp; 945267 |
| &nbsp;&nbsp;&nbsp; Kodiak Gas Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28410 | &nbsp;&nbsp;&nbsp;&nbsp; 1193504 |
| &nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 55767 | &nbsp;&nbsp;&nbsp;&nbsp; 1374657 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 54885 | &nbsp;&nbsp;&nbsp;&nbsp; 1400116 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 41092 | &nbsp;&nbsp;&nbsp;&nbsp; 1236458 |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20082 | &nbsp;&nbsp;&nbsp;&nbsp; 502050 |
| &nbsp;&nbsp;&nbsp; NPK International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 41526 | &nbsp;&nbsp;&nbsp;&nbsp; 573474 |
| &nbsp;&nbsp;&nbsp; Par Pacific Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 32064 | &nbsp;&nbsp;&nbsp;&nbsp; 1210095 |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 83852 | &nbsp;&nbsp;&nbsp;&nbsp; 631406 |
| &nbsp;&nbsp;&nbsp; Peabody Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 51119 | &nbsp;&nbsp;&nbsp;&nbsp; 1802456 |
| &nbsp;&nbsp;&nbsp; PrimeEnergy Resources Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2547 | &nbsp;&nbsp;&nbsp;&nbsp; 466330 |
| &nbsp;&nbsp;&nbsp; ProPetro Holding Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 46865 | &nbsp;&nbsp;&nbsp;&nbsp; 538479 |
| &nbsp;&nbsp;&nbsp; Ramaco Resources, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 40616 | &nbsp;&nbsp;&nbsp;&nbsp; 792418 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Non-Renewable Energy — continued** | **Non-Renewable Energy — continued** | **Non-Renewable Energy — continued** |
| &nbsp;&nbsp;&nbsp; RPC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 125381 | &nbsp;&nbsp;&nbsp;&nbsp; 833784 |
| &nbsp;&nbsp;&nbsp; SandRidge Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 42631 | &nbsp;&nbsp;&nbsp;&nbsp; 675701 |
| &nbsp;&nbsp;&nbsp; Select Water Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 91384 | &nbsp;&nbsp;&nbsp;&nbsp; 1104833 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp; 36088 | &nbsp;&nbsp;&nbsp;&nbsp; 702633 |
| &nbsp;&nbsp;&nbsp; Solaris Energy Infrastructure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 28112 | &nbsp;&nbsp;&nbsp;&nbsp; 1551501 |
| &nbsp;&nbsp;&nbsp; SunCoke Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 126150 | &nbsp;&nbsp;&nbsp;&nbsp; 991539 |
| &nbsp;&nbsp;&nbsp; TETRA Technologies, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 56556 | &nbsp;&nbsp;&nbsp;&nbsp; 644738 |
| &nbsp;&nbsp;&nbsp; VAALCO Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 90917 | &nbsp;&nbsp;&nbsp;&nbsp; 467313 |
| &nbsp;&nbsp;&nbsp; Vitesse Energy, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10889 | &nbsp;&nbsp;&nbsp;&nbsp; 228233 |
| &nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19121 | &nbsp;&nbsp;&nbsp;&nbsp; 1707505 |
| &nbsp;&nbsp;&nbsp; World Kinect Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 35823 | &nbsp;&nbsp;&nbsp;&nbsp; 963997 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 38260266 |
| **Personal Care, Drug & Grocery Stores — 2.6%** | **Personal Care, Drug & Grocery Stores — 2.6%** | **Personal Care, Drug & Grocery Stores — 2.6%** |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 112715 | &nbsp;&nbsp;&nbsp;&nbsp; 440716 |
| &nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc. (The) \* | &nbsp;&nbsp;&nbsp;&nbsp; 23579 | &nbsp;&nbsp;&nbsp;&nbsp; 1483119 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. | &nbsp;&nbsp;&nbsp;&nbsp; 61989 | &nbsp;&nbsp;&nbsp;&nbsp; 1206306 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 56991 | &nbsp;&nbsp;&nbsp;&nbsp; 1244114 |
| &nbsp;&nbsp;&nbsp; Grocery Outlet Holding Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 55888 | &nbsp;&nbsp;&nbsp;&nbsp; 532613 |
| &nbsp;&nbsp;&nbsp; Guardian Pharmacy Services, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 11082 | &nbsp;&nbsp;&nbsp;&nbsp; 334676 |
| &nbsp;&nbsp;&nbsp; Honest Co., Inc. (The) \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 56175 | &nbsp;&nbsp;&nbsp;&nbsp; 138752 |
| &nbsp;&nbsp;&nbsp; Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15440 | &nbsp;&nbsp;&nbsp;&nbsp; 1155838 |
| &nbsp;&nbsp;&nbsp; Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38414 | &nbsp;&nbsp;&nbsp;&nbsp; 1049470 |
| &nbsp;&nbsp;&nbsp; Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 103198 | &nbsp;&nbsp;&nbsp;&nbsp; 1094931 |
| &nbsp;&nbsp;&nbsp; Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19048 | &nbsp;&nbsp;&nbsp;&nbsp; 1213548 |
| &nbsp;&nbsp;&nbsp; United Natural Foods, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 45570 | &nbsp;&nbsp;&nbsp;&nbsp; 1696571 |
| &nbsp;&nbsp;&nbsp; WD-40 Co. | &nbsp;&nbsp;&nbsp;&nbsp; 5474 | &nbsp;&nbsp;&nbsp;&nbsp; 1265753 |
| &nbsp;&nbsp;&nbsp; Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15673 | &nbsp;&nbsp;&nbsp;&nbsp; 1115134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 13971541 |
| **Personal Goods — 1.3%** | **Personal Goods — 1.3%** | **Personal Goods — 1.3%** |
| &nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 29126 | &nbsp;&nbsp;&nbsp;&nbsp; 854848 |
| &nbsp;&nbsp;&nbsp; Interparfums, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5526 | &nbsp;&nbsp;&nbsp;&nbsp; 539172 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19081 | &nbsp;&nbsp;&nbsp;&nbsp; 1139708 |
| &nbsp;&nbsp;&nbsp; Movado Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25227 | &nbsp;&nbsp;&nbsp;&nbsp; 575176 |
| &nbsp;&nbsp;&nbsp; Oxford Industries, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 9157 | &nbsp;&nbsp;&nbsp;&nbsp; 337435 |
| &nbsp;&nbsp;&nbsp; Signet Jewelers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 18216 | &nbsp;&nbsp;&nbsp;&nbsp; 1680790 |
| &nbsp;&nbsp;&nbsp; Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 25718 | &nbsp;&nbsp;&nbsp;&nbsp; 1128506 |
| &nbsp;&nbsp;&nbsp; Wolverine World Wide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 45179 | &nbsp;&nbsp;&nbsp;&nbsp; 800572 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7056207 |
| **Pharmaceuticals, Biotechnology & Marijuana Producers — 3.8%** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 3.8%** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 3.8%** |
| &nbsp;&nbsp;&nbsp; ADMA Biologics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 30856 | &nbsp;&nbsp;&nbsp;&nbsp; 533809 |
| &nbsp;&nbsp;&nbsp; Alkermes plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 31955 | &nbsp;&nbsp;&nbsp;&nbsp; 1082955 |
| &nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 26632 | &nbsp;&nbsp;&nbsp;&nbsp; 705482 |
| &nbsp;&nbsp;&nbsp; ANI Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15677 | &nbsp;&nbsp;&nbsp;&nbsp; 1283162 |
| &nbsp;&nbsp;&nbsp; Arcellx, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 16552 | &nbsp;&nbsp;&nbsp;&nbsp; 1130667 |
| &nbsp;&nbsp;&nbsp; Aurinia Pharmaceuticals, Inc. (Canada) \* | &nbsp;&nbsp;&nbsp;&nbsp; 86376 | &nbsp;&nbsp;&nbsp;&nbsp; 1255043 |
| &nbsp;&nbsp;&nbsp; Castle Biosciences, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 13659 | &nbsp;&nbsp;&nbsp;&nbsp; 538028 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **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; Catalyst Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 61023 | &nbsp;&nbsp;&nbsp;&nbsp; 1482859 |
| &nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 32391 | &nbsp;&nbsp;&nbsp;&nbsp; 1487395 |
| &nbsp;&nbsp;&nbsp; Dynavax Technologies Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 78231 | &nbsp;&nbsp;&nbsp;&nbsp; 1211407 |
| &nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15008 | &nbsp;&nbsp;&nbsp;&nbsp; 548092 |
| &nbsp;&nbsp;&nbsp; Innoviva, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 68105 | &nbsp;&nbsp;&nbsp;&nbsp; 1362100 |
| &nbsp;&nbsp;&nbsp; Ironwood Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 43436 | &nbsp;&nbsp;&nbsp;&nbsp; 212402 |
| &nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8430 | &nbsp;&nbsp;&nbsp;&nbsp; 1619403 |
| &nbsp;&nbsp;&nbsp; Niagen Bioscience, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 35420 | &nbsp;&nbsp;&nbsp;&nbsp; 212166 |
| &nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 37833 | &nbsp;&nbsp;&nbsp;&nbsp; 777090 |
| &nbsp;&nbsp;&nbsp; PDL BioPharma, Inc. ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 22361 | &nbsp;&nbsp;&nbsp;&nbsp; 4696 |
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 17218 | &nbsp;&nbsp;&nbsp;&nbsp; 1110044 |
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 17455 | &nbsp;&nbsp;&nbsp;&nbsp; 1427819 |
| &nbsp;&nbsp;&nbsp; Rigel Pharmaceuticals, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 25546 | &nbsp;&nbsp;&nbsp;&nbsp; 890534 |
| &nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 30876 | &nbsp;&nbsp;&nbsp;&nbsp; 1486988 |
| &nbsp;&nbsp;&nbsp; Vanda Pharmaceuticals, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 29917 | &nbsp;&nbsp;&nbsp;&nbsp; 225574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20587715 |
| **Precious Metals & Mining — 1.8%** | **Precious Metals & Mining — 1.8%** | **Precious Metals & Mining — 1.8%** |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 99557 | &nbsp;&nbsp;&nbsp;&nbsp; 2034945 |
| &nbsp;&nbsp;&nbsp; Hecla Mining Co. | &nbsp;&nbsp;&nbsp;&nbsp; 93178 | &nbsp;&nbsp;&nbsp;&nbsp; 2098369 |
| &nbsp;&nbsp;&nbsp; Idaho Strategic Resources, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 34711 | &nbsp;&nbsp;&nbsp;&nbsp; 1251679 |
| &nbsp;&nbsp;&nbsp; Novagold Resources, Inc. (Canada) \* | &nbsp;&nbsp;&nbsp;&nbsp; 132945 | &nbsp;&nbsp;&nbsp;&nbsp; 1160610 |
| &nbsp;&nbsp;&nbsp; Perpetua Resources Corp. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 55837 | &nbsp;&nbsp;&nbsp;&nbsp; 1486381 |
| &nbsp;&nbsp;&nbsp; SSR Mining, Inc. (Canada) \* | &nbsp;&nbsp;&nbsp;&nbsp; 74585 | &nbsp;&nbsp;&nbsp;&nbsp; 1702775 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9734759 |
| **Real Estate Investment & Services — 2.0%** | **Real Estate Investment & Services — 2.0%** | **Real Estate Investment & Services — 2.0%** |
| &nbsp;&nbsp;&nbsp; Compass, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 257087 | &nbsp;&nbsp;&nbsp;&nbsp; 3218729 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 84783 | &nbsp;&nbsp;&nbsp;&nbsp; 1393833 |
| &nbsp;&nbsp;&nbsp; DigitalBridge Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 73860 | &nbsp;&nbsp;&nbsp;&nbsp; 1136705 |
| &nbsp;&nbsp;&nbsp; eXp World Holdings, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 18229 | &nbsp;&nbsp;&nbsp;&nbsp; 164790 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 46305 | &nbsp;&nbsp;&nbsp;&nbsp; 1593355 |
| &nbsp;&nbsp;&nbsp; Newmark Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 83827 | &nbsp;&nbsp;&nbsp;&nbsp; 1494635 |
| &nbsp;&nbsp;&nbsp; St. Joe Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 25861 | &nbsp;&nbsp;&nbsp;&nbsp; 1711740 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10713787 |
| **Real Estate Investment Trusts — 10.2%** | **Real Estate Investment Trusts — 10.2%** | **Real Estate Investment Trusts — 10.2%** |
| &nbsp;&nbsp;&nbsp; Acadia Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp; 23915 | &nbsp;&nbsp;&nbsp;&nbsp; 478539 |
| &nbsp;&nbsp;&nbsp; Alexander & Baldwin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 50946 | &nbsp;&nbsp;&nbsp;&nbsp; 1056620 |
| &nbsp;&nbsp;&nbsp; Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2784 | &nbsp;&nbsp;&nbsp;&nbsp; 681802 |
| &nbsp;&nbsp;&nbsp; American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 50577 | &nbsp;&nbsp;&nbsp;&nbsp; 913421 |
| &nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31452 | &nbsp;&nbsp;&nbsp;&nbsp; 1475413 |
| &nbsp;&nbsp;&nbsp; Apple Hospitality REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 94637 | &nbsp;&nbsp;&nbsp;&nbsp; 1101575 |
| &nbsp;&nbsp;&nbsp; Brandywine Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp; 236593 | &nbsp;&nbsp;&nbsp;&nbsp; 669558 |
| &nbsp;&nbsp;&nbsp; Broadstone Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 88771 | &nbsp;&nbsp;&nbsp;&nbsp; 1643151 |
| &nbsp;&nbsp;&nbsp; CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 41799 | &nbsp;&nbsp;&nbsp;&nbsp; 1560775 |
| &nbsp;&nbsp;&nbsp; Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19375 | &nbsp;&nbsp;&nbsp;&nbsp; 334800 |
| &nbsp;&nbsp;&nbsp; COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp; 51342 | &nbsp;&nbsp;&nbsp;&nbsp; 1581847 |
| &nbsp;&nbsp;&nbsp; CTO Realty Growth, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 32632 | &nbsp;&nbsp;&nbsp;&nbsp; 579871 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **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; Curbline Properties Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 52246 | &nbsp;&nbsp;&nbsp;&nbsp; 1266966 |
| &nbsp;&nbsp;&nbsp; DiamondRock Hospitality Co. | &nbsp;&nbsp;&nbsp;&nbsp; 176775 | &nbsp;&nbsp;&nbsp;&nbsp; 1622795 |
| &nbsp;&nbsp;&nbsp; Douglas Emmett, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 77849 | &nbsp;&nbsp;&nbsp;&nbsp; 822085 |
| &nbsp;&nbsp;&nbsp; Easterly Government Properties, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 48418 | &nbsp;&nbsp;&nbsp;&nbsp; 1132497 |
| &nbsp;&nbsp;&nbsp; Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 80607 | &nbsp;&nbsp;&nbsp;&nbsp; 534424 |
| &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 47803 | &nbsp;&nbsp;&nbsp;&nbsp; 1451299 |
| &nbsp;&nbsp;&nbsp; Four Corners Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 51568 | &nbsp;&nbsp;&nbsp;&nbsp; 1271151 |
| &nbsp;&nbsp;&nbsp; Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 44742 | &nbsp;&nbsp;&nbsp;&nbsp; 1335996 |
| &nbsp;&nbsp;&nbsp; Global Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 174717 | &nbsp;&nbsp;&nbsp;&nbsp; 1652823 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 75303 | &nbsp;&nbsp;&nbsp;&nbsp; 1257560 |
| &nbsp;&nbsp;&nbsp; Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20739 | &nbsp;&nbsp;&nbsp;&nbsp; 1002109 |
| &nbsp;&nbsp;&nbsp; InvenTrust Properties Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 35148 | &nbsp;&nbsp;&nbsp;&nbsp; 1033000 |
| &nbsp;&nbsp;&nbsp; JBG SMITH Properties | &nbsp;&nbsp;&nbsp;&nbsp; 58020 | &nbsp;&nbsp;&nbsp;&nbsp; 977057 |
| &nbsp;&nbsp;&nbsp; Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp; 61120 | &nbsp;&nbsp;&nbsp;&nbsp; 1435709 |
| &nbsp;&nbsp;&nbsp; LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 43871 | &nbsp;&nbsp;&nbsp;&nbsp; 1599975 |
| &nbsp;&nbsp;&nbsp; LXP Industrial Trust | &nbsp;&nbsp;&nbsp;&nbsp; 31802 | &nbsp;&nbsp;&nbsp;&nbsp; 1575789 |
| &nbsp;&nbsp;&nbsp; Macerich Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 78465 | &nbsp;&nbsp;&nbsp;&nbsp; 1485342 |
| &nbsp;&nbsp;&nbsp; National Health Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19893 | &nbsp;&nbsp;&nbsp;&nbsp; 1633613 |
| &nbsp;&nbsp;&nbsp; NETSTREIT Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 59603 | &nbsp;&nbsp;&nbsp;&nbsp; 1122921 |
| &nbsp;&nbsp;&nbsp; Outfront Media, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 66855 | &nbsp;&nbsp;&nbsp;&nbsp; 1625914 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp; 96316 | &nbsp;&nbsp;&nbsp;&nbsp; 1099929 |
| &nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 38209 | &nbsp;&nbsp;&nbsp;&nbsp; 1384312 |
| &nbsp;&nbsp;&nbsp; Piedmont Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 141984 | &nbsp;&nbsp;&nbsp;&nbsp; 1195505 |
| &nbsp;&nbsp;&nbsp; RLJ Lodging Trust | &nbsp;&nbsp;&nbsp;&nbsp; 141842 | &nbsp;&nbsp;&nbsp;&nbsp; 1053886 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14172 | &nbsp;&nbsp;&nbsp;&nbsp; 1342088 |
| &nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 80650 | &nbsp;&nbsp;&nbsp;&nbsp; 1510575 |
| &nbsp;&nbsp;&nbsp; Sila Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24987 | &nbsp;&nbsp;&nbsp;&nbsp; 608433 |
| &nbsp;&nbsp;&nbsp; SITE Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 111230 | &nbsp;&nbsp;&nbsp;&nbsp; 680728 |
| &nbsp;&nbsp;&nbsp; Summit Hotel Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 115327 | &nbsp;&nbsp;&nbsp;&nbsp; 509745 |
| &nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 125472 | &nbsp;&nbsp;&nbsp;&nbsp; 1100389 |
| &nbsp;&nbsp;&nbsp; Tanger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44745 | &nbsp;&nbsp;&nbsp;&nbsp; 1464056 |
| &nbsp;&nbsp;&nbsp; Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 24852 | &nbsp;&nbsp;&nbsp;&nbsp; 1529392 |
| &nbsp;&nbsp;&nbsp; UMH Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15222 | &nbsp;&nbsp;&nbsp;&nbsp; 237920 |
| &nbsp;&nbsp;&nbsp; Urban Edge Properties | &nbsp;&nbsp;&nbsp;&nbsp; 69924 | &nbsp;&nbsp;&nbsp;&nbsp; 1358623 |
| &nbsp;&nbsp;&nbsp; Whitestone | &nbsp;&nbsp;&nbsp;&nbsp; 49163 | &nbsp;&nbsp;&nbsp;&nbsp; 700081 |
| &nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 76942 | &nbsp;&nbsp;&nbsp;&nbsp; 1134895 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 54826954 |
| **Renewable Energy — 1.0%** | **Renewable Energy — 1.0%** | **Renewable Energy — 1.0%** |
| &nbsp;&nbsp;&nbsp; American Superconductor Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 30223 | &nbsp;&nbsp;&nbsp;&nbsp; 904272 |
| &nbsp;&nbsp;&nbsp; Centrus Energy Corp., Class A \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4968 | &nbsp;&nbsp;&nbsp;&nbsp; 1382495 |
| &nbsp;&nbsp;&nbsp; Nextpower, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 15641 | &nbsp;&nbsp;&nbsp;&nbsp; 1831405 |
| &nbsp;&nbsp;&nbsp; REX American Resources Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 40769 | &nbsp;&nbsp;&nbsp;&nbsp; 1378400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5496572 |
| **Retailers — 2.1%** | **Retailers — 2.1%** | **Retailers — 2.1%** |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 2932 | &nbsp;&nbsp;&nbsp;&nbsp; 286251 |
| &nbsp;&nbsp;&nbsp; Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19088 | &nbsp;&nbsp;&nbsp;&nbsp; 1050031 |
| &nbsp;&nbsp;&nbsp; American Eagle Outfitters, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 39291 | &nbsp;&nbsp;&nbsp;&nbsp; 915873 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Retailers — continued** | **Retailers — continued** | **Retailers — continued** |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2776 | &nbsp;&nbsp;&nbsp;&nbsp; 651000 |
| &nbsp;&nbsp;&nbsp; Buckle, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 26519 | &nbsp;&nbsp;&nbsp;&nbsp; 1254349 |
| &nbsp;&nbsp;&nbsp; GigaCloud Technology, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 22938 | &nbsp;&nbsp;&nbsp;&nbsp; 915914 |
| &nbsp;&nbsp;&nbsp; Global Industrial Co. | &nbsp;&nbsp;&nbsp;&nbsp; 3136 | &nbsp;&nbsp;&nbsp;&nbsp; 95836 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3199 | &nbsp;&nbsp;&nbsp;&nbsp; 1133278 |
| &nbsp;&nbsp;&nbsp; Haverty Furniture Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31749 | &nbsp;&nbsp;&nbsp;&nbsp; 803885 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 44768 | &nbsp;&nbsp;&nbsp;&nbsp; 782097 |
| &nbsp;&nbsp;&nbsp; Liquidity Services, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 22000 | &nbsp;&nbsp;&nbsp;&nbsp; 704000 |
| &nbsp;&nbsp;&nbsp; PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3950 | &nbsp;&nbsp;&nbsp;&nbsp; 561729 |
| &nbsp;&nbsp;&nbsp; Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26757 | &nbsp;&nbsp;&nbsp;&nbsp; 509988 |
| &nbsp;&nbsp;&nbsp; Urban Outfitters, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 19767 | &nbsp;&nbsp;&nbsp;&nbsp; 1400492 |
| &nbsp;&nbsp;&nbsp; Zumiez, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1242 | &nbsp;&nbsp;&nbsp;&nbsp; 30566 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11095289 |
| **Software & Computer Services — 3.8%** | **Software & Computer Services — 3.8%** | **Software & Computer Services — 3.8%** |
| &nbsp;&nbsp;&nbsp; A10 Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 65269 | &nbsp;&nbsp;&nbsp;&nbsp; 1138291 |
| &nbsp;&nbsp;&nbsp; Agilysys, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 11743 | &nbsp;&nbsp;&nbsp;&nbsp; 1018705 |
| &nbsp;&nbsp;&nbsp; Alarm.com Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 10947 | &nbsp;&nbsp;&nbsp;&nbsp; 533995 |
| &nbsp;&nbsp;&nbsp; Blackbaud, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 6170 | &nbsp;&nbsp;&nbsp;&nbsp; 331329 |
| &nbsp;&nbsp;&nbsp; Box, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 30283 | &nbsp;&nbsp;&nbsp;&nbsp; 767674 |
| &nbsp;&nbsp;&nbsp; Cargurus, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 36599 | &nbsp;&nbsp;&nbsp;&nbsp; 1185808 |
| &nbsp;&nbsp;&nbsp; Clear Secure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 42621 | &nbsp;&nbsp;&nbsp;&nbsp; 1390297 |
| &nbsp;&nbsp;&nbsp; Commvault Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8645 | &nbsp;&nbsp;&nbsp;&nbsp; 740877 |
| &nbsp;&nbsp;&nbsp; Consensus Cloud Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3505 | &nbsp;&nbsp;&nbsp;&nbsp; 74867 |
| &nbsp;&nbsp;&nbsp; CSG Systems International, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19990 | &nbsp;&nbsp;&nbsp;&nbsp; 1594202 |
| &nbsp;&nbsp;&nbsp; ePlus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13835 | &nbsp;&nbsp;&nbsp;&nbsp; 1187181 |
| &nbsp;&nbsp;&nbsp; EverQuote, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 20134 | &nbsp;&nbsp;&nbsp;&nbsp; 457042 |
| &nbsp;&nbsp;&nbsp; Grindr, Inc. (Singapore) \* | &nbsp;&nbsp;&nbsp;&nbsp; 52583 | &nbsp;&nbsp;&nbsp;&nbsp; 595240 |
| &nbsp;&nbsp;&nbsp; Magnite, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 42161 | &nbsp;&nbsp;&nbsp;&nbsp; 610070 |
| &nbsp;&nbsp;&nbsp; Mitek Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 34171 | &nbsp;&nbsp;&nbsp;&nbsp; 342393 |
| &nbsp;&nbsp;&nbsp; NetScout Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 41542 | &nbsp;&nbsp;&nbsp;&nbsp; 1155283 |
| &nbsp;&nbsp;&nbsp; OneSpan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25241 | &nbsp;&nbsp;&nbsp;&nbsp; 297339 |
| &nbsp;&nbsp;&nbsp; Powerfleet, Inc. NJ \* | &nbsp;&nbsp;&nbsp;&nbsp; 142076 | &nbsp;&nbsp;&nbsp;&nbsp; 726008 |
| &nbsp;&nbsp;&nbsp; Progress Software Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 21224 | &nbsp;&nbsp;&nbsp;&nbsp; 868486 |
| &nbsp;&nbsp;&nbsp; Q2 Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 16630 | &nbsp;&nbsp;&nbsp;&nbsp; 1018588 |
| &nbsp;&nbsp;&nbsp; Qualys, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7982 | &nbsp;&nbsp;&nbsp;&nbsp; 1052826 |
| &nbsp;&nbsp;&nbsp; Simulations Plus, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 23486 | &nbsp;&nbsp;&nbsp;&nbsp; 396679 |
| &nbsp;&nbsp;&nbsp; SPS Commerce, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8840 | &nbsp;&nbsp;&nbsp;&nbsp; 789058 |
| &nbsp;&nbsp;&nbsp; Viant Technology, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 18020 | &nbsp;&nbsp;&nbsp;&nbsp; 212996 |
| &nbsp;&nbsp;&nbsp; Workiva, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 14416 | &nbsp;&nbsp;&nbsp;&nbsp; 1110320 |
| &nbsp;&nbsp;&nbsp; Yelp, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 36675 | &nbsp;&nbsp;&nbsp;&nbsp; 1004162 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20599716 |
| **Technology Hardware & Equipment — 5.4%** | **Technology Hardware & Equipment — 5.4%** | **Technology Hardware & Equipment — 5.4%** |
| &nbsp;&nbsp;&nbsp; Adeia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 82849 | &nbsp;&nbsp;&nbsp;&nbsp; 1498738 |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7179 | &nbsp;&nbsp;&nbsp;&nbsp; 1833229 |
| &nbsp;&nbsp;&nbsp; Alpha & Omega Semiconductor Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2429 | &nbsp;&nbsp;&nbsp;&nbsp; 53681 |
| &nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4917 | &nbsp;&nbsp;&nbsp;&nbsp; 433040 |
| &nbsp;&nbsp;&nbsp; Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 33083 | &nbsp;&nbsp;&nbsp;&nbsp; 1724948 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Technology Hardware & Equipment — continued** | **Technology Hardware & Equipment — continued** | **Technology Hardware & Equipment — continued** |
| &nbsp;&nbsp;&nbsp; Cohu, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1508 | &nbsp;&nbsp;&nbsp;&nbsp; 43038 |
| &nbsp;&nbsp;&nbsp; CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 20705 | &nbsp;&nbsp;&nbsp;&nbsp; 1064444 |
| &nbsp;&nbsp;&nbsp; Diodes, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 14625 | &nbsp;&nbsp;&nbsp;&nbsp; 865654 |
| &nbsp;&nbsp;&nbsp; Fabrinet (Thailand) \* | &nbsp;&nbsp;&nbsp;&nbsp; 3354 | &nbsp;&nbsp;&nbsp;&nbsp; 1641582 |
| &nbsp;&nbsp;&nbsp; FormFactor, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 22984 | &nbsp;&nbsp;&nbsp;&nbsp; 1620142 |
| &nbsp;&nbsp;&nbsp; Impinj, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8299 | &nbsp;&nbsp;&nbsp;&nbsp; 1146092 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7296 | &nbsp;&nbsp;&nbsp;&nbsp; 613010 |
| &nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries, Inc. (Singapore) | &nbsp;&nbsp;&nbsp;&nbsp; 23773 | &nbsp;&nbsp;&nbsp;&nbsp; 1362906 |
| &nbsp;&nbsp;&nbsp; Methode Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 39575 | &nbsp;&nbsp;&nbsp;&nbsp; 316204 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9103 | &nbsp;&nbsp;&nbsp;&nbsp; 1224718 |
| &nbsp;&nbsp;&nbsp; PC Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12276 | &nbsp;&nbsp;&nbsp;&nbsp; 721952 |
| &nbsp;&nbsp;&nbsp; Photronics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 47124 | &nbsp;&nbsp;&nbsp;&nbsp; 1629077 |
| &nbsp;&nbsp;&nbsp; Plexus Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 10356 | &nbsp;&nbsp;&nbsp;&nbsp; 2064261 |
| &nbsp;&nbsp;&nbsp; Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14506 | &nbsp;&nbsp;&nbsp;&nbsp; 666406 |
| &nbsp;&nbsp;&nbsp; Rambus, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15602 | &nbsp;&nbsp;&nbsp;&nbsp; 1775976 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9963 | &nbsp;&nbsp;&nbsp;&nbsp; 1411558 |
| &nbsp;&nbsp;&nbsp; ScanSource, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 20598 | &nbsp;&nbsp;&nbsp;&nbsp; 885508 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3139 | &nbsp;&nbsp;&nbsp;&nbsp; 258999 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 21329 | &nbsp;&nbsp;&nbsp;&nbsp; 2094508 |
| &nbsp;&nbsp;&nbsp; Ultra Clean Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 29100 | &nbsp;&nbsp;&nbsp;&nbsp; 1271088 |
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 42290 | &nbsp;&nbsp;&nbsp;&nbsp; 852143 |
| &nbsp;&nbsp;&nbsp; Xerox Holdings Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 65991 | &nbsp;&nbsp;&nbsp;&nbsp; 144520 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 29217422 |
| **Telecommunications Equipment — 3.3%** | **Telecommunications Equipment — 3.3%** | **Telecommunications Equipment — 3.3%** |
| &nbsp;&nbsp;&nbsp; ADTRAN Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 106162 | &nbsp;&nbsp;&nbsp;&nbsp; 978814 |
| &nbsp;&nbsp;&nbsp; Aviat Networks, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 13160 | &nbsp;&nbsp;&nbsp;&nbsp; 287020 |
| &nbsp;&nbsp;&nbsp; Calix, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 25593 | &nbsp;&nbsp;&nbsp;&nbsp; 1143239 |
| &nbsp;&nbsp;&nbsp; Clearfield, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 31120 | &nbsp;&nbsp;&nbsp;&nbsp; 926442 |
| &nbsp;&nbsp;&nbsp; Digi International, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 34320 | &nbsp;&nbsp;&nbsp;&nbsp; 1478162 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Class A \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 19288 | &nbsp;&nbsp;&nbsp;&nbsp; 2183787 |
| &nbsp;&nbsp;&nbsp; Extreme Networks, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 71136 | &nbsp;&nbsp;&nbsp;&nbsp; 1037163 |
| &nbsp;&nbsp;&nbsp; Harmonic, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 101807 | &nbsp;&nbsp;&nbsp;&nbsp; 989564 |
| &nbsp;&nbsp;&nbsp; InterDigital, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 4445 | &nbsp;&nbsp;&nbsp;&nbsp; 1451026 |
| &nbsp;&nbsp;&nbsp; NETGEAR, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 54944 | &nbsp;&nbsp;&nbsp;&nbsp; 1148879 |
| &nbsp;&nbsp;&nbsp; Ribbon Communications, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 1005 | &nbsp;&nbsp;&nbsp;&nbsp; 2633 |
| &nbsp;&nbsp;&nbsp; Uniti Group, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp; 88873 | &nbsp;&nbsp;&nbsp;&nbsp; 739423 |
| &nbsp;&nbsp;&nbsp; Viasat, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 40535 | &nbsp;&nbsp;&nbsp;&nbsp; 1830966 |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 85201 | &nbsp;&nbsp;&nbsp;&nbsp; 2084017 |
| &nbsp;&nbsp;&nbsp; Vistance Networks, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 81473 | &nbsp;&nbsp;&nbsp;&nbsp; 1466514 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17747649 |
| **Telecommunications Service Providers — 1.8%** | **Telecommunications Service Providers — 1.8%** | **Telecommunications Service Providers — 1.8%** |
| &nbsp;&nbsp;&nbsp; 8x8, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 282072 | &nbsp;&nbsp;&nbsp;&nbsp; 468239 |
| &nbsp;&nbsp;&nbsp; Cable One, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 6140 | &nbsp;&nbsp;&nbsp;&nbsp; 497279 |
| &nbsp;&nbsp;&nbsp; fuboTV, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 405352 | &nbsp;&nbsp;&nbsp;&nbsp; 903935 |
| &nbsp;&nbsp;&nbsp; Globalstar, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 22788 | &nbsp;&nbsp;&nbsp;&nbsp; 1404197 |
| &nbsp;&nbsp;&nbsp; Gogo, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 101738 | &nbsp;&nbsp;&nbsp;&nbsp; 466977 |
| &nbsp;&nbsp;&nbsp; IDT Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 24302 | &nbsp;&nbsp;&nbsp;&nbsp; 1181806 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Telecommunications Service Providers — continued** | **Telecommunications Service Providers — continued** | **Telecommunications Service Providers — continued** |
| &nbsp;&nbsp;&nbsp; Liberty Latin America Ltd., Class C (Puerto Rico) \* | &nbsp;&nbsp;&nbsp;&nbsp; 121149 | &nbsp;&nbsp;&nbsp;&nbsp; 942539 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 190511 | &nbsp;&nbsp;&nbsp;&nbsp; 1680307 |
| &nbsp;&nbsp;&nbsp; Shenandoah Telecommunications Co. | &nbsp;&nbsp;&nbsp;&nbsp; 23097 | &nbsp;&nbsp;&nbsp;&nbsp; 274161 |
| &nbsp;&nbsp;&nbsp; Telephone and Data Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 39597 | &nbsp;&nbsp;&nbsp;&nbsp; 1787013 |
| &nbsp;&nbsp;&nbsp; Xperi, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 17686 | &nbsp;&nbsp;&nbsp;&nbsp; 100103 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9706556 |
| **Tobacco — 0.6%** | **Tobacco — 0.6%** | **Tobacco — 0.6%** |
| &nbsp;&nbsp;&nbsp; Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15293 | &nbsp;&nbsp;&nbsp;&nbsp; 1852747 |
| &nbsp;&nbsp;&nbsp; Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 25749 | &nbsp;&nbsp;&nbsp;&nbsp; 1457136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3309883 |
| **Travel & Leisure — 0.6%** | **Travel & Leisure — 0.6%** | **Travel & Leisure — 0.6%** |
| &nbsp;&nbsp;&nbsp; Biglari Holdings, Inc., Class B \* | &nbsp;&nbsp;&nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp;&nbsp; 87382 |
| &nbsp;&nbsp;&nbsp; Brightstar Lottery plc | &nbsp;&nbsp;&nbsp;&nbsp; 33568 | &nbsp;&nbsp;&nbsp;&nbsp; 486065 |
| &nbsp;&nbsp;&nbsp; Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7376 | &nbsp;&nbsp;&nbsp;&nbsp; 675125 |
| &nbsp;&nbsp;&nbsp; SkyWest, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 12864 | &nbsp;&nbsp;&nbsp;&nbsp; 1241633 |
| &nbsp;&nbsp;&nbsp; Super Group SGHC Ltd. (Guernsey) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 90354 | &nbsp;&nbsp;&nbsp;&nbsp; 855653 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3345858 |
| **Waste & Disposal Services — 0.3%** | **Waste & Disposal Services — 0.3%** | **Waste & Disposal Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 13393 | &nbsp;&nbsp;&nbsp;&nbsp; 1351086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $465,760,814)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 535658386 |
|  | &nbsp;&nbsp;&nbsp; **NO. OF** <br> **RIGHTS**<br>|  |
| **Rights—0.0%** | **Rights—0.0%** | **Rights—0.0%** |
| **Pharmaceuticals & Biotechnology — 0.0%** | **Pharmaceuticals & Biotechnology — 0.0%** | **Pharmaceuticals & Biotechnology — 0.0%** |
| &nbsp;&nbsp;&nbsp; OmniAb Operations, Inc., 11/2/2022 ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 1382 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc., 11/3/2022 ‡ \* | &nbsp;&nbsp;&nbsp;&nbsp; 1382 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Rights <br>(Cost $—)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | **SHARES** |  |
| **Short-Term Investments — 5.3%** | **Short-Term Investments — 5.3%** | **Short-Term Investments — 5.3%** |
| **Investment Companies — 0.3%** | **Investment Companies — 0.3%** | **Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 3.64% (b) (c)(Cost $1,479,483) | &nbsp;&nbsp;&nbsp;&nbsp; 1479483 | &nbsp;&nbsp;&nbsp;&nbsp; 1479483 |
| **Investment of Cash Collateral from Securities Loaned — 5.0%** | **Investment of Cash Collateral from Securities Loaned — 5.0%** | **Investment of Cash Collateral from Securities Loaned — 5.0%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 3.68% (b) (c)(Cost $27,224,634) | &nbsp;&nbsp;&nbsp;&nbsp; 27224634 | &nbsp;&nbsp;&nbsp;&nbsp; 27224634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $28,704,117)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 28704117 |
| **Total Investments — 104.7%** <br>**(Cost $494,464,931)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **564362503** |
| **Liabilities in Excess of Other Assets — (4.7)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(25440605)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **538921898** |

---

&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;

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

---

| | |
|:---|:---|
| **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, 2026. The total value of securities on loan at January 31, 2026 is <br> $25,514,044.<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, 2026. |

---

**Futures contracts outstanding as of January 31, 2026:**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 1707290 | &nbsp;&nbsp;&nbsp;&nbsp; 9342 |

---

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

---

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

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (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 "1940 Act"), the Board is required to determine fair value for securities that do not have readily available market quotations. Pursuant to Rule 2a-5 under the 1940 Act (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the "Valuation Designee" to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee ("AVC") to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.

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

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

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset value ("NAV") of the Fund is calculated on a valuation date. Certain foreign equity instruments are valued by applying international fair value factors provided by an approved Pricing Service. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAV is calculated.

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

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**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (Unaudited) (continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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 | &nbsp;&nbsp;&nbsp;&nbsp; $1487534 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1487534 |
| &nbsp;&nbsp;&nbsp; Automobiles & Parts | &nbsp;&nbsp;&nbsp;&nbsp; 4470453 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4470453 |
| &nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp;&nbsp; 28407266 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28407266 |
| &nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp;&nbsp;&nbsp; 3435227 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3435227 |
| &nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp;&nbsp;&nbsp; 18737538 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18737538 |
| &nbsp;&nbsp;&nbsp; Construction & Materials | &nbsp;&nbsp;&nbsp;&nbsp; 18103193 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18103193 |
| &nbsp;&nbsp;&nbsp; Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp; 11074175 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11074175 |
| &nbsp;&nbsp;&nbsp; Electricity | &nbsp;&nbsp;&nbsp;&nbsp; 11016044 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11016044 |
| &nbsp;&nbsp;&nbsp; Electronic & Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 5649620 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5649620 |
| &nbsp;&nbsp;&nbsp; Finance & Credit Services | &nbsp;&nbsp;&nbsp;&nbsp; 5955427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5955427 |
| &nbsp;&nbsp;&nbsp; Food Producers | &nbsp;&nbsp;&nbsp;&nbsp; 18482996 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18482996 |
| &nbsp;&nbsp;&nbsp; Gas, Water & Multi-utilities | &nbsp;&nbsp;&nbsp;&nbsp; 19131837 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19131837 |
| &nbsp;&nbsp;&nbsp; General Industrials | &nbsp;&nbsp;&nbsp;&nbsp; 6619689 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6619689 |
| &nbsp;&nbsp;&nbsp; Health Care Providers | &nbsp;&nbsp;&nbsp;&nbsp; 17542016 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17542016 |
| &nbsp;&nbsp;&nbsp; Household Goods & Home Construction | &nbsp;&nbsp;&nbsp;&nbsp; 13788809 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13788809 |
| &nbsp;&nbsp;&nbsp; Industrial Engineering | &nbsp;&nbsp;&nbsp;&nbsp; 3792165 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3792165 |
| &nbsp;&nbsp;&nbsp; Industrial Materials | &nbsp;&nbsp;&nbsp;&nbsp; 8187210 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8187210 |
| &nbsp;&nbsp;&nbsp; Industrial Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp; 18146213 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18146213 |
| &nbsp;&nbsp;&nbsp; Industrial Support Services | &nbsp;&nbsp;&nbsp;&nbsp; 10775056 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10775056 |
| &nbsp;&nbsp;&nbsp; Industrial Transportation | &nbsp;&nbsp;&nbsp;&nbsp; 17898965 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17898965 |
| &nbsp;&nbsp;&nbsp; Investment Banking & Brokerage Services | &nbsp;&nbsp;&nbsp;&nbsp; 4660258 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4660258 |
| &nbsp;&nbsp;&nbsp; Leisure Goods | &nbsp;&nbsp;&nbsp;&nbsp; 2221841 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2221841 |
| &nbsp;&nbsp;&nbsp; Life Insurance | &nbsp;&nbsp;&nbsp;&nbsp; 4805696 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4805696 |
| &nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp;&nbsp;&nbsp; 2130953 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2130953 |
| &nbsp;&nbsp;&nbsp; Medical Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp; 11491358 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11491358 |
| &nbsp;&nbsp;&nbsp; Mortgage Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp;&nbsp; 6060884 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6060884 |
| &nbsp;&nbsp;&nbsp; Non-life Insurance | &nbsp;&nbsp;&nbsp;&nbsp; 4564703 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4564703 |
| &nbsp;&nbsp;&nbsp; Non-Renewable Energy | &nbsp;&nbsp;&nbsp;&nbsp; 38260266 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38260266 |
| &nbsp;&nbsp;&nbsp; Personal Care, Drug & Grocery Stores | &nbsp;&nbsp;&nbsp;&nbsp; 13971541 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13971541 |
| &nbsp;&nbsp;&nbsp; Personal Goods | &nbsp;&nbsp;&nbsp;&nbsp; 7056207 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7056207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals, Biotechnology & Marijuana <br> Producers<br>| &nbsp;&nbsp;&nbsp;&nbsp; 20583019 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4696 | &nbsp;&nbsp;&nbsp;&nbsp; 20587715 |
| &nbsp;&nbsp;&nbsp; Precious Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp; 9734759 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9734759 |
| &nbsp;&nbsp;&nbsp; Real Estate Investment & Services | &nbsp;&nbsp;&nbsp;&nbsp; 10713787 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10713787 |
| &nbsp;&nbsp;&nbsp; Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp;&nbsp; 54826954 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 54826954 |
| &nbsp;&nbsp;&nbsp; Renewable Energy | &nbsp;&nbsp;&nbsp;&nbsp; 5496572 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5496572 |
| &nbsp;&nbsp;&nbsp; Retailers | &nbsp;&nbsp;&nbsp;&nbsp; 11095289 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11095289 |
| &nbsp;&nbsp;&nbsp; Software & Computer Services | &nbsp;&nbsp;&nbsp;&nbsp; 20599716 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20599716 |
| &nbsp;&nbsp;&nbsp; Technology Hardware & Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 29217422 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 29217422 |
| &nbsp;&nbsp;&nbsp; Telecommunications Equipment | &nbsp;&nbsp;&nbsp;&nbsp; 17747649 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17747649 |
| &nbsp;&nbsp;&nbsp; Telecommunications Service Providers | &nbsp;&nbsp;&nbsp;&nbsp; 9706556 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9706556 |
| &nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp;&nbsp;&nbsp; 3309883 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3309883 |
| &nbsp;&nbsp;&nbsp; Travel & Leisure | &nbsp;&nbsp;&nbsp;&nbsp; 3345858 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3345858 |

---

------

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

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF January 31, 2026 (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 | &nbsp;&nbsp;&nbsp;&nbsp; $1351086 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1351086 |
| &nbsp;&nbsp;&nbsp; Total Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp; 535653690 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4696 | &nbsp;&nbsp;&nbsp;&nbsp; 535658386 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> (a)<br>|
| Short-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp; 1479483 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1479483 |
| &nbsp;&nbsp;&nbsp; Investment of Cash Collateral from Securities Loaned | &nbsp;&nbsp;&nbsp;&nbsp; 27224634 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27224634 |
| Total Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; 28704117 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28704117 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp;&nbsp; $564357807 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $4696 | &nbsp;&nbsp;&nbsp;&nbsp; $564362503 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $9342 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9342 |

---

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

 <br> (a) Value is zero.

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** | **For the period ended January 31, 2026** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2025**<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>**2026**<br>| **Shares at** <br>**January 31,** <br>**2026**<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, 3.68% (a) (b)<br>| $15353997 | $64810491 | $52939854 | $— | $— | $27224634 | 27224634 | $296114 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, <br> 3.64% (a) (b)<br>| 405629 | 10077173 | 9003319 |  |  | 1479483 | 1479483 | 17695 |  |
| **Total** | $15759626 | $74887664 | $61943173 | $— | $— | $28704117 |  | $313809 | $— |

---

&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, 2026.

------

## 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:** 390 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **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:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $566277325.99

**Total Liabilities:** $27355593.58

**Net Assets:** $538921732.41

**Cash Not Reported:** $196890.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000173015 | 1.61%                | 0.13%                | 5.88%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $565614.70               | $6703124.02                                |
| Month 2  | $4671085.06              | $-5330131.16                               |
| Month 3  | $77017.22                | $29492632.05                               |

**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        |     42801 | NS      | $1408152.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive, Inc.                      | Group 1 Automotive, Inc.                                              | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      3199 | NS      | $1133277.74   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp.                                | Renasant Corp.                                                        | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |     20693 | NS      | $780333.03    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                       | COPT Defense Properties                                               | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     51342 | NS      | $1581847.02   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolverine World Wide, Inc.                    | Wolverine World Wide, Inc.                                            | CUSIP: 978097103<br>LEI: 549300OVC7PK14LQ8D87 | Long             | EC               | CORP              | US        |     45179 | NS      | $800571.88    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital, Inc.                            | InterDigital, Inc.                                                    | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4445 | NS      | $1451025.80   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Chesapeake Utilities Corp.                    | Chesapeake Utilities Corp.                                            | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |     12052 | NS      | $1550851.36   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group, Inc.            | Helix Energy Solutions Group, Inc.                                    | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |    119119 | NS      | $945804.86    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Corp.                         | Gulfport Energy Corp.                                                 | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |      7185 | NS      | $1466961.45   | 0.27%             |  |  |  | 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        |    121149 | NS      | $942539.22    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco, Inc.                                | WesBanco, Inc.                                                        | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22849 | NS      | $806341.21    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp.                         | Hancock Whitney Corp.                                                 | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     17138 | NS      | $1179094.40   | 0.22%             |  |  |  | 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: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |   1479483 | NS      | $1479482.64   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Viasat, Inc.                                  | Viasat, Inc.                                                          | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |     40535 | NS      | $1830965.95   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp.                          | Addus HomeCare Corp.                                                  | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      9699 | NS      | $1003652.52   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corp.                          | Xerox Holdings Corp.                                                  | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |     65991 | NS      | $144520.29    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Oxford Industries, Inc.                       | Oxford Industries, Inc.                                               | CUSIP: 691497309<br>LEI: IDZ20O0XD3GS4UOI2L88 | Long             | EC               | CORP              | US        |      9157 | NS      | $337435.45    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Koppers Holdings, Inc.                        | Koppers Holdings, Inc.                                                | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29529 | NS      | $869924.34    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA, Inc.                                   | TEGNA, Inc.                                                           | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     75881 | NS      | $1453879.96   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Garrett Motion, Inc.                          | Garrett Motion, Inc.                                                  | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |     62942 | NS      | $1135473.68   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors, Inc.                   | Ethan Allen Interiors, Inc.                                           | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40976 | NS      | $939579.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Intrepid Potash, Inc.                         | Intrepid Potash, Inc.                                                 | CUSIP: 46121Y201<br>LEI: 549300OZ696E2PRRTO45 | Long             | EC               | CORP              | US        |     27993 | NS      | $919290.12    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Astrana Health, Inc.                          | Astrana Health, Inc.                                                  | CUSIP: 03763A207<br>LEI: 5493008O4R82Q4STJ936 | Long             | EC               | CORP              | US        |     23466 | NS      | $533616.84    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| John B Sanfilippo & Son, Inc.                 | John B Sanfilippo & Son, Inc.                                         | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |     10080 | NS      | $815472.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpan, Inc.                                 | OneSpan, Inc.                                                         | CUSIP: 68287N100<br>LEI: 984500E502E6DC354D26 | Long             | EC               | CORP              | US        |     25241 | NS      | $297338.98    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods, Inc.                         | Cal-Maine Foods, Inc.                                                 | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     18272 | NS      | $1526260.16   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Commercial Real Estate Corp.             | Ares Commercial Real Estate Corp.                                     | CUSIP: 04013V108<br>LEI: 549300ZNO5IWXS443S81 | Long             | EC               | CORP              | US        |     47702 | NS      | $248527.42    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Aviat Networks, Inc.                          | Aviat Networks, Inc.                                                  | CUSIP: 05366Y201<br>LEI: 549300Z3X8Z4MK52CI65 | Long             | EC               | CORP              | US        |     13160 | NS      | $287019.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp.                                 | Balchem Corp.                                                         | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |      9197 | NS      | $1565053.49   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals, Inc.                  | Ligand Pharmaceuticals, Inc.                                          | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |      8430 | NS      | $1619403.00   | 0.30%             |  |  |  | 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        |     17046 | NS      | $758887.92    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Group SGHC Ltd.                         | Super Group SGHC Ltd.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GG        |     90354 | NS      | $855652.38    | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Target Hospitality Corp.                      | Target Hospitality Corp.                                              | CUSIP: 87615L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23630 | NS      | $162810.70    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey Resources Corp.                    | New Jersey Resources Corp.                                            | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |     33897 | NS      | $1677223.56   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp.                             | Haemonetics Corp.                                                     | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     12399 | NS      | $826517.34    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Xperi, Inc.                                   | Xperi, Inc.                                                           | CUSIP: 98423J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17686 | NS      | $100102.76    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| OPENLANE, Inc.                                | OPENLANE, Inc.                                                        | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |     39895 | NS      | $1198445.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Vita Coco Co., Inc. (The)                     | Vita Coco Co., Inc. (The)                                             | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |     28521 | NS      | $1521595.35   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PriceSmart, Inc.                              | PriceSmart, Inc.                                                      | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |      3950 | NS      | $561729.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical, Inc.                             | ICU Medical, Inc.                                                     | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |      7540 | NS      | $1130246.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingles Markets, Inc.                          | Ingles Markets, Inc., Class A                                         | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |     15440 | NS      | $1155838.40   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp.                        | Integer Holdings Corp.                                                | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |     12281 | NS      | $1066727.66   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies, Inc.                    | Axcelis Technologies, Inc.                                            | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |      4917 | NS      | $433040.19    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Corp.               | Brookfield Infrastructure Corp., Class A                              | CUSIP: 11276H106<br>LEI: 254900YTMKBFJAKUBO55 | Long             | EC               | CORP              | CA        |     33424 | NS      | $1599338.40   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co.                           | Crescent Energy Co., Class A                                          | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53060 | NS      | $518396.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Co.                 | Northwest Natural Holding Co.                                         | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |     33597 | NS      | $1564276.32   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares, Inc.                    | Northwest Bancshares, Inc.                                            | CUSIP: 667340103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63431 | NS      | $816991.28    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp.                   | Standex International Corp.                                           | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |      6288 | NS      | $1509120.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Varex Imaging Corp.                           | Varex Imaging Corp.                                                   | CUSIP: 92214X106<br>LEI: 549300CWYWPVCT8E9W67 | Long             | EC               | CORP              | US        |     39639 | NS      | $552567.66    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health, Inc.                      | Option Care Health, Inc.                                              | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     46145 | NS      | $1568930.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| REX American Resources Corp.                  | REX American Resources Corp.                                          | CUSIP: 761624105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40769 | NS      | $1378399.89   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| United Natural Foods, Inc.                    | United Natural Foods, Inc.                                            | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Long             | EC               | CORP              | US        |     45570 | NS      | $1696571.10   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings, Inc.                         | ADTRAN Holdings, Inc.                                                 | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |    106162 | NS      | $978813.64    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Grindr, Inc.                                  | Grindr, Inc.                                                          | CUSIP: 39854F101<br>LEI: 254900J9EDQSYT0ERQ67 | Long             | EC               | CORP              | US        |     52583 | NS      | $595239.56    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet, Inc.                                  | RadNet, Inc.                                                          | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     19920 | NS      | $1396392.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services, Inc.                      | Liquidity Services, Inc.                                              | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |     22000 | NS      | $704000.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure, Inc.           | Solaris Energy Infrastructure, Inc., Class A                          | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     28112 | NS      | $1551501.28   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Scorpio Tankers, Inc.                         | Scorpio Tankers, Inc.                                                 | CUSIP: N/A<br>LEI: 549300NVJUH16NXG8K87       | Long             | EC               | CORP              | MH        |     18683 | NS      | $1188612.46   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co.                   | DiamondRock Hospitality Co.                                           | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |    176775 | NS      | $1622794.50   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust, Inc.                   | Piedmont Realty Trust, Inc., Class A                                  | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    141984 | NS      | $1195505.28   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Outfitters, Inc.                        | Urban Outfitters, Inc.                                                | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     19767 | NS      | $1400491.95   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp                          | Old National Bancorp                                                  | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     67428 | NS      | $1647266.04   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp.                               | Trustmark Corp.                                                       | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |     13539 | NS      | $575678.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins, Inc.                                 | Hawkins, Inc.                                                         | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |      8851 | NS      | $1152842.75   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb, Inc.                                  | OmniAb, Inc.                                                          | CUSIP: 68218J301<br>LEI: N/A                  | Long             |  | CORP              | US        |      1382 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| Abercrombie & Fitch Co.                       | Abercrombie & Fitch Co., Class A                                      | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      2932 | NS      | $286251.16    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearfield, Inc.                              | Clearfield, Inc.                                                      | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Long             | EC               | CORP              | US        |     31120 | NS      | $926442.40    | 0.17%             |  |  |  | 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        |  27224634 | NS      | $27224634.40  | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Gas Services, Inc.                     | Kodiak Gas Services, Inc.                                             | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28410 | NS      | $1193504.10   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp.                 | American Superconductor Corp.                                         | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |     30223 | NS      | $904272.16    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WaFd, Inc.                                    | WaFd, Inc.                                                            | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32202 | NS      | $1050429.24   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Comstock Resources, Inc.                      | Comstock Resources, Inc.                                              | CUSIP: 205768302<br>LEI: I03QQGEA4SS774AURI46 | Long             | EC               | CORP              | US        |     56899 | NS      | $1385490.65   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Employers Holdings, Inc.                      | Employers Holdings, Inc.                                              | CUSIP: 292218104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9743 | NS      | $424989.66    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore, Inc.                                  | Atkore, Inc.                                                          | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |     10265 | NS      | $712904.25    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus, Inc.                                  | Cactus, Inc., Class A                                                 | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     22472 | NS      | $1263600.56   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellium SE                                | Constellium SE                                                        | CUSIP: N/A<br>LEI: 724500KRJEMC79KAAU28       | Long             | EC               | CORP              | FR        |     71454 | NS      | $1605571.38   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology, Inc.                  | Vishay Intertechnology, Inc.                                          | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |     42290 | NS      | $852143.50    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT, Inc.                  | Apple Hospitality REIT, Inc.                                          | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |     94637 | NS      | $1101574.68   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynex Capital, Inc.                           | Dynex Capital, Inc.                                                   | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |    100702 | NS      | $1397743.76   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA Technologies, Inc.                      | TETRA Technologies, Inc.                                              | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |     56556 | NS      | $644738.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| GEO Group, Inc. (The)                         | GEO Group, Inc. (The)                                                 | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |     53641 | NS      | $857183.18    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CorVel Corp.                                  | CorVel Corp.                                                          | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15072 | NS      | $1049463.36   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vitesse Energy, Inc.                          | Vitesse Energy, Inc.                                                  | CUSIP: 92852X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10889 | NS      | $228233.44    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Warrior Met Coal, Inc.                        | Warrior Met Coal, Inc.                                                | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |     19121 | NS      | $1707505.30   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Natural Grocers by Vitamin Cottage, Inc.      | Natural Grocers by Vitamin Cottage, Inc.                              | CUSIP: 63888U108<br>LEI: 529900P4OTXDGBUS3O87 | Long             | EC               | CORP              | US        |     38414 | NS      | $1049470.48   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems, Inc.                   | Merit Medical Systems, Inc.                                           | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |     15346 | NS      | $1244407.14   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu, Inc.                                    | Cohu, Inc.                                                            | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |      1508 | NS      | $43038.32     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals, Inc.                | Ironwood Pharmaceuticals, Inc.                                        | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |     43436 | NS      | $212402.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Excelerate Energy, Inc.                       | Excelerate Energy, Inc., Class A                                      | CUSIP: 30069T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42712 | NS      | $1595293.20   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels, Inc.                            | Energy Fuels, Inc.                                                    | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |     83260 | NS      | $1868354.40   | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| SandRidge Energy, Inc.                        | SandRidge Energy, Inc.                                                | CUSIP: 80007P869<br>LEI: W1MKPVGS6I5155L7VV67 | Long             | EC               | CORP              | US        |     42631 | NS      | $675701.35    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| American Public Education, Inc.               | American Public Education, Inc.                                       | CUSIP: 02913V103<br>LEI: 254900GZNX6TJQGM4S17 | Long             | EC               | CORP              | US        |     10041 | NS      | $419512.98    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Advanced Materials, Inc.             | Rayonier Advanced Materials, Inc.                                     | CUSIP: 75508B104<br>LEI: 54930053QJ7OUGZG4F72 | Long             | EC               | CORP              | US        |    112072 | NS      | $869678.72    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP Enterprises, Inc.                         | DXP Enterprises, Inc.                                                 | CUSIP: 233377407<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2787 | NS      | $362449.35    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                                 | SM Energy Co.                                                         | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     36088 | NS      | $702633.36    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings, Inc.                       | Lantheus Holdings, Inc.                                               | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     12073 | NS      | $807925.16    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors, Inc.               | National Health Investors, Inc.                                       | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     19893 | NS      | $1633613.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Weis Markets, Inc.                            | Weis Markets, Inc.                                                    | CUSIP: 948849104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15673 | NS      | $1115133.95   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Bancorp, Inc.                        | Republic Bancorp, Inc., Class A                                       | CUSIP: 760281204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4111 | NS      | $298499.71    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| OraSure Technologies, Inc.                    | OraSure Technologies, Inc.                                            | CUSIP: 68554V108<br>LEI: 529900GNNJPNM4XHXQ77 | Long             | EC               | CORP              | US        |     78148 | NS      | $218032.92    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategic Education, Inc.                     | Strategic Education, Inc.                                             | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |     10315 | NS      | $876981.30    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NPK International, Inc.                       | NPK International, Inc.                                               | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |     41526 | NS      | $573474.06    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower, Inc.                               | Nextpower, Inc., Class A                                              | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15641 | NS      | $1831404.69   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Spectrum Brands Holdings, Inc.                | Spectrum Brands Holdings, Inc.                                        | CUSIP: 84790A105<br>LEI: 549300JM0MJETDD30O20 | Long             | EC               | CORP              | US        |     19048 | NS      | $1213548.08   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products, Inc.                  | Mueller Water Products, Inc., Class A                                 | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     15713 | NS      | $425350.91    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                                  | Moelis & Co., Class A                                                 | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |     20795 | NS      | $1490377.65   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| St. Joe Co. (The)                             | St. Joe Co. (The)                                                     | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     25861 | NS      | $1711739.59   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec, Inc.                                | Innospec, Inc.                                                        | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |     12831 | NS      | $1048549.32   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Wesson Brands, Inc.                   | Smith & Wesson Brands, Inc.                                           | CUSIP: 831754106<br>LEI: 5493004PFHUPOR1PWN79 | Long             | EC               | CORP              | US        |     55386 | NS      | $604815.12    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Myriad Genetics, Inc.                         | Myriad Genetics, Inc.                                                 | CUSIP: 62855J104<br>LEI: 52990044IHUOUMETT163 | Long             | EC               | CORP              | US        |     20123 | NS      | $113091.26    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp.                          | Uranium Energy Corp.                                                  | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |    113988 | NS      | $1965153.12   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Medifast, Inc.                                | Medifast, Inc.                                                        | CUSIP: 58470H101<br>LEI: 5299000YHQJ21T5KKI80 | Long             | EC               | CORP              | US        |     50008 | NS      | $572091.52    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| McGrath RentCorp                              | McGrath RentCorp                                                      | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |      7703 | NS      | $860348.07    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp.                     | Curbline Properties Corp.                                             | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |     52246 | NS      | $1266965.50   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell, Inc.                                | Omnicell, Inc.                                                        | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |     24772 | NS      | $1201442.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Genco Shipping & Trading Ltd.                 | Genco Shipping & Trading Ltd.                                         | CUSIP: N/A<br>LEI: 5493003MBZ5GU8QHXZ58       | Long             | EC               | CORP              | MH        |     27790 | NS      | $580811.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp.                    | Taylor Morrison Home Corp.                                            | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     22081 | NS      | $1345836.95   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies, Inc.                      | Ormat Technologies, Inc.                                              | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     11664 | NS      | $1457300.16   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Corp.                               | Universal Corp.                                                       | CUSIP: 913456109<br>LEI: 549300BZXZ66F6DTIF20 | Long             | EC               | CORP              | US        |     25749 | NS      | $1457135.91   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions, Inc.               | Consensus Cloud Solutions, Inc.                                       | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3505 | NS      | $74866.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Biglari Holdings, Inc.                        | Biglari Holdings, Inc., Class B                                       | CUSIP: 08986R309<br>LEI: 549300GLWWSODF8TM682 | Long             | EC               | CORP              | US        |       233 | NS      | $87381.99     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies, Inc.                | Watts Water Technologies, Inc., Class A                               | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      5716 | NS      | $1710855.96   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                                       | KB Home                                                               | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |      9382 | NS      | $539840.28    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co.                      | Central Garden & Pet Co., Class A                                     | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     24194 | NS      | $742029.98    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargurus, Inc.                                | Cargurus, Inc., Class A                                               | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |     36599 | NS      | $1185807.60   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd.                            | Steven Madden Ltd.                                                    | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     25718 | NS      | $1128505.84   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Tankers Ltd.                           | Teekay Tankers Ltd., Class A                                          | CUSIP: N/A<br>LEI: 549300DE8ZAIYS2T6Q22       | Long             | EC               | CORP              | BM        |     23027 | NS      | $1485702.04   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                                    | Korn Ferry                                                            | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     12680 | NS      | $880879.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tingo Group, Inc.                             | Tingo Group, Inc.                                                     | CUSIP: 55328R109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    827098 | NS      | $7237.11      | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Cushman & Wakefield Ltd.                      | Cushman & Wakefield Ltd.                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     84783 | NS      | $1393832.52   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp.                    | OceanFirst Financial Corp.                                            | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27489 | NS      | $515418.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TrustCo Bank Corp.                            | TrustCo Bank Corp.                                                    | CUSIP: 898349204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11094 | NS      | $481479.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholastic Corp.                              | Scholastic Corp.                                                      | CUSIP: 807066105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7126 | NS      | $249196.22    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                      | Fabrinet                                                              | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | KY        |      3354 | NS      | $1641581.76   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp.                            | SITE Centers Corp.                                                    | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |    111230 | NS      | $680727.60    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corp.                             | ACCO Brands Corp.                                                     | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |    112715 | NS      | $440715.65    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                        | Cathay General Bancorp                                                | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     22555 | NS      | $1154364.90   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite, Inc.                                 | Magnite, Inc.                                                         | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     42161 | NS      | $610069.67    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions, Inc.                         | Viavi Solutions, Inc.                                                 | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |     85201 | NS      | $2084016.46   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust, Inc.       | Essential Properties Realty Trust, Inc.                               | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     47803 | NS      | $1451299.08   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co.                             | Boise Cascade Co.                                                     | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |     11835 | NS      | $956386.35    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellington Financial, Inc.                     | Ellington Financial, Inc.                                             | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |     97050 | NS      | $1247092.50   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface, Inc.                               | Interface, Inc.                                                       | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     56242 | NS      | $1769935.74   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Gray Media, Inc.                              | Gray Media, Inc.                                                      | CUSIP: 389375106<br>LEI: 529900TM5726KDN7UU35 | Long             | EC               | CORP              | US        |     94873 | NS      | $427877.23    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Box, Inc.                                     | Box, Inc., Class A                                                    | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     30283 | NS      | $767674.05    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| National HealthCare Corp.                     | National HealthCare Corp.                                             | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |      4805 | NS      | $687643.55    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd.                             | Essent Group Ltd.                                                     | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | BM        |     24931 | NS      | $1568658.52   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistance Networks, Inc.                       | Vistance Networks, Inc.                                               | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |     81473 | NS      | $1466514.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LSB Industries, Inc.                          | LSB Industries, Inc.                                                  | CUSIP: 502160104<br>LEI: 5493001H215A0HG0MI71 | Long             | EC               | CORP              | US        |    104739 | NS      | $973025.31    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Brightstar Lottery plc                        | Brightstar Lottery plc                                                | CUSIP: N/A<br>LEI: 549300UQ6KHRCZDRGZ76       | Long             | EC               | CORP              | GB        |     33568 | NS      | $486064.64    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp.                                 | Visteon Corp.                                                         | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     10501 | NS      | $954120.86    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp.                                    | GATX Corp.                                                            | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |      8989 | NS      | $1635188.99   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia, Inc.                                  | Phinia, Inc.                                                          | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     26436 | NS      | $1881450.12   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial, Inc.                           | MFA Financial, Inc.                                                   | CUSIP: 55272X607<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EC               | CORP              | US        |     82517 | NS      | $795463.88    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems, Inc.                   | Casella Waste Systems, Inc., Class A                                  | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     13393 | NS      | $1351085.84   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group, Inc.               | Healthcare Services Group, Inc.                                       | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     48584 | NS      | $914350.88    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Safety Insurance Group, Inc.                  | Safety Insurance Group, Inc.                                          | CUSIP: 78648T100<br>LEI: 254900LDCFLA3J746840 | Long             | EC               | CORP              | US        |       749 | NS      | $58946.30     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| J&J Snack Foods Corp.                         | J & J Snack Foods Corp.                                               | CUSIP: 466032109<br>LEI: 894500IGP1Y2ZQFQMJ83 | Long             | EC               | CORP              | US        |     11430 | NS      | $1085850.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp.                                 | Griffon Corp.                                                         | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     13725 | NS      | $1117901.25   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations, Inc.                      | Power Integrations, Inc.                                              | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     14506 | NS      | $666405.64    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| California Water Service Group                | California Water Service Group                                        | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |     20256 | NS      | $905443.20    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Idaho Strategic Resources, Inc.               | Idaho Strategic Resources, Inc.                                       | CUSIP: 645827205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34711 | NS      | $1251678.66   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| HealthEquity, Inc.                            | HealthEquity, Inc.                                                    | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     15602 | NS      | $1336623.34   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif, Inc.                                   | Greif, Inc., Class A                                                  | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     13721 | NS      | $968977.02    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares, Inc.                       | United Bankshares, Inc.                                               | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |     39329 | NS      | $1664796.57   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Shenandoah Telecommunications Co.             | Shenandoah Telecommunications Co.                                     | CUSIP: 82312B106<br>LEI: 549300XH3H4OUKFPHS84 | Long             | EC               | CORP              | US        |     23097 | NS      | $274161.39    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| LifeMD, Inc.                                  | LifeMD, Inc.                                                          | CUSIP: 53216B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45094 | NS      | $146104.56    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms, Inc.                             | Vital Farms, Inc.                                                     | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |     32763 | NS      | $932107.35    | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Middlesex Water Co.                           | Middlesex Water Co.                                                   | CUSIP: 596680108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10231 | NS      | $535899.78    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| National Beverage Corp.                       | National Beverage Corp.                                               | CUSIP: 635017106<br>LEI: 549300O9MZIQJI8TGV17 | Long             | EC               | CORP              | US        |     31228 | NS      | $1064250.24   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitek Systems, Inc.                           | Mitek Systems, Inc.                                                   | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Long             | EC               | CORP              | US        |     34171 | NS      | $342393.42    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass, Inc.                                 | Compass, Inc., Class A                                                | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |    257087 | NS      | $3218729.24   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp.                         | Wabash National Corp.                                                 | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     15346 | NS      | $155454.98    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulgent Genetics, Inc.                        | Fulgent Genetics, Inc.                                                | CUSIP: 359664109<br>LEI: 549300CL6P01M68QJ404 | Long             | EC               | CORP              | US        |     15254 | NS      | $399654.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy, Inc.                                | La-Z-Boy, Inc.                                                        | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |     38071 | NS      | $1386165.11   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| REV Group, Inc.                               | REV Group, Inc.                                                       | CUSIP: 749527107<br>LEI: 549300SRD0SIG5ZZ3X20 | Long             | EC               | CORP              | US        |     12539 | NS      | $801242.10    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences, Inc.                      | Castle Biosciences, Inc.                                              | CUSIP: 14843C105<br>LEI: 2549007M2Q4HLR1XD252 | Long             | EC               | CORP              | US        |     13659 | NS      | $538028.01    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises, Inc.                     | Insight Enterprises, Inc.                                             | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |      7296 | NS      | $613009.92    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp.                                 | ArcBest Corp.                                                         | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |      9326 | NS      | $841391.72    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings, Inc.                | Victory Capital Holdings, Inc., Class A                               | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |     14248 | NS      | $1004911.44   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha & Omega Semiconductor Ltd.              | Alpha & Omega Semiconductor Ltd.                                      | CUSIP: N/A<br>LEI: 5493001FE7J03YOV2V35       | Long             | EC               | CORP              | BM        |      2429 | NS      | $53680.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| First Busey Corp.                             | First Busey Corp.                                                     | CUSIP: 319383204<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EC               | CORP              | US        |     12290 | NS      | $302948.50    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Hallador Energy Co.                           | Hallador Energy Co.                                                   | CUSIP: 40609P105<br>LEI: 254900GKEQRHOI2SSC19 | Long             | EC               | CORP              | US        |     57021 | NS      | $1054318.29   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys, Inc.                                | Agilysys, Inc.                                                        | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |     11743 | NS      | $1018705.25   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group, Inc.               | Northwestern Energy Group, Inc.                                       | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     23807 | NS      | $1615543.02   | 0.30%             |  |  |  | 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        |     28602 | NS      | $309187.62    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent, Inc.                                | Exponent, Inc.                                                        | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |      6807 | NS      | $489219.09    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys, Inc.                                  | Qualys, Inc.                                                          | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      7982 | NS      | $1052825.80   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Honest Co., Inc. (The)                        | Honest Co., Inc. (The)                                                | CUSIP: 438333106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56175 | NS      | $138752.25    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Ensign Group, Inc. (The)                      | Ensign Group, Inc. (The)                                              | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      8881 | NS      | $1524512.46   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp, Inc.                            | Hope Bancorp, Inc.                                                    | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     60994 | NS      | $730708.12    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TreeHouse Foods, Inc.                         | TreeHouse Foods, Inc.                                                 | CUSIP: 89469A104<br>LEI: 5493007M7EVHE470Q576 | Long             | EC               | CORP              | US        |     44038 | NS      | $1085096.32   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva, Inc.                                 | Workiva, Inc.                                                         | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |     14416 | NS      | $1110320.32   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp.                                     | HNI Corp.                                                             | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |     29053 | NS      | $1388442.87   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp.                                  | Plexus Corp.                                                          | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |     10356 | NS      | $2064261.48   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus, Inc.                                   | ePlus, Inc.                                                           | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |     13835 | NS      | $1187181.35   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare, Inc.                | Cross Country Healthcare, Inc.                                        | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     13741 | NS      | $128066.12    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Skin Enterprises, Inc.                     | Nu Skin Enterprises, Inc., Class A                                    | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Long             | EC               | CORP              | US        |    103198 | NS      | $1094930.78   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Perimeter Solutions, Inc.                     | Perimeter Solutions, Inc.                                             | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54479 | NS      | $1424625.85   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings, Inc.                    | Ultra Clean Holdings, Inc.                                            | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     29100 | NS      | $1271088.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp.                           | UMB Financial Corp.                                                   | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |      6034 | NS      | $767162.76    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Paper Corp.                        | Clearwater Paper Corp.                                                | CUSIP: 18538R103<br>LEI: 549300HCVV19GXN4P292 | Long             | EC               | CORP              | US        |     43641 | NS      | $734041.62    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERTEC, Inc.                                 | EVERTEC, Inc.                                                         | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     18578 | NS      | $557525.78    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp.                   | Horace Mann Educators Corp.                                           | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |      6400 | NS      | $286784.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tennant Co.                                   | Tennant Co.                                                           | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |       897 | NS      | $68252.73     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT Bancorp, Inc.                             | NBT Bancorp, Inc.                                                     | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13643 | NS      | $606158.49    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection, Inc.                    | Resources Connection, Inc.                                            | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3104 | NS      | $14061.12     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries, Inc.                          | UFP Industries, Inc.                                                  | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     12661 | NS      | $1307628.08   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Seneca Foods Corp.                            | Seneca Foods Corp., Class A                                           | CUSIP: 817070501<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3309 | NS      | $394862.97    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog, Inc.                                    | Moog, Inc., Class A                                                   | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |      3763 | NS      | $1149032.05   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Chimera Investment Corp.                      | Chimera Investment Corp.                                              | CUSIP: 16934Q802<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EC               | CORP              | US        |     17872 | NS      | $220719.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical, Inc.                          | Avanos Medical, Inc.                                                  | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |     14299 | NS      | $190462.68    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cars.com, Inc.                                | Cars.com, Inc.                                                        | CUSIP: 14575E105<br>LEI: 5493002G6J07LNGX4M98 | Long             | EC               | CORP              | US        |     16792 | NS      | $190757.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First Commonwealth Financial Corp.            | First Commonwealth Financial Corp.                                    | CUSIP: 319829107<br>LEI: 549300ZHLQ42NXDETL24 | Long             | EC               | CORP              | US        |     23890 | NS      | $430736.70    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Zumiez, Inc.                                  | Zumiez, Inc.                                                          | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |      1242 | NS      | $30565.62     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp.                                | UniFirst Corp.                                                        | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |       630 | NS      | $135450.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Laureate Education, Inc.                      | Laureate Education, Inc., Class A                                     | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |     50235 | NS      | $1723060.50   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial, Inc.                          | Axos Financial, Inc.                                                  | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |     16783 | NS      | $1661349.17   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corp.                         | Ryerson Holding Corp.                                                 | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |     54226 | NS      | $1530257.72   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics, Inc.                              | Photronics, Inc.                                                      | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     47124 | NS      | $1629076.68   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Adtalem Global Education, Inc.                | Adtalem Global Education, Inc.                                        | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |     11110 | NS      | $1150440.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts, Inc.                  | Xenia Hotels & Resorts, Inc.                                          | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |     76942 | NS      | $1134894.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd.                                | Herbalife Ltd.                                                        | CUSIP: N/A<br>LEI: 549300BA7TYPBSZZIA41       | Long             | EC               | CORP              | KY        |    127087 | NS      | $2190979.88   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences, Inc.                      | Pacira BioSciences, Inc.                                              | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37833 | NS      | $777089.82    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp.                   | InvenTrust Properties Corp.                                           | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |     35148 | NS      | $1032999.72   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises, Inc.                      | Apogee Enterprises, Inc.                                              | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     18578 | NS      | $689801.14    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride, Inc.                                  | Stride, Inc.                                                          | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |      8783 | NS      | $743041.80    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial, Inc.                       | Jackson Financial, Inc., Class A                                      | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |     15961 | NS      | $1898082.12   | 0.35%             |  |  |  | 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        |     16207 | NS      | $408740.54    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp.                          | Federal Signal Corp.                                                  | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     13034 | NS      | $1408845.06   | 0.26%             |  |  |  | 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        |     41674 | NS      | $1652790.84   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp.                   | Sensient Technologies Corp.                                           | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     16743 | NS      | $1582548.36   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival, Inc.                           | Shoe Carnival, Inc.                                                   | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26757 | NS      | $509988.42    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GigaCloud Technology, Inc.                    | GigaCloud Technology, Inc., Class A                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     22938 | NS      | $915914.34    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust, Inc.                           | Redwood Trust, Inc.                                                   | CUSIP: 758075402<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | EC               | CORP              | US        |      5467 | NS      | $29959.16     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Technologies, Inc.                        | UFP Technologies, Inc.                                                | CUSIP: 902673102<br>LEI: 549300RJ8LY41HS70C91 | Long             | EC               | CORP              | US        |      5539 | NS      | $1391064.46   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Pennant Group, Inc. (The)                     | Pennant Group, Inc. (The)                                             | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |     15627 | NS      | $431617.74    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander's, Inc.                             | Alexander's, Inc.                                                     | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               | CORP              | US        |      2784 | NS      | $681801.60    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment Trust            | PennyMac Mortgage Investment Trust                                    | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |     60192 | NS      | $712071.36    | 0.13%             |  |  |  | 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        |     54959 | NS      | $1031580.43   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                     | CNO Financial Group, Inc.                                             | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     38335 | NS      | $1611986.75   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo, Inc.                                    | Oklo, Inc., Class A                                                   | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13445 | NS      | $1070490.90   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems, Inc.              | Telephone and Data Systems, Inc.                                      | CUSIP: 879433829<br>LEI: 5299003YZW5BE2NNLO37 | Long             | EC               | CORP              | US        |     39597 | NS      | $1787012.61   | 0.33%             |  |  |  | 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        |     54885 | NS      | $1400116.35   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| American Woodmark Corp.                       | American Woodmark Corp.                                               | CUSIP: 030506109<br>LEI: 5299007PFSDWMA74RB56 | Long             | EC               | CORP              | US        |      3838 | NS      | $227938.82    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical, Inc.                | Collegium Pharmaceutical, Inc.                                        | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |     32391 | NS      | $1487394.72   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp.                          | Peabody Energy Corp.                                                  | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |     51119 | NS      | $1802455.94   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management, Inc.                | Acadian Asset Management, Inc.                                        | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |      6606 | NS      | $366104.52    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| IDT Corp.                                     | IDT Corp., Class B                                                    | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |     24302 | NS      | $1181806.26   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries, Inc.            | Hawaiian Electric Industries, Inc.                                    | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |    113202 | NS      | $1734254.64   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce, Inc.                            | SPS Commerce, Inc.                                                    | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |      8840 | NS      | $789058.40    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp.                  | Grocery Outlet Holding Corp.                                          | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55888 | NS      | $532612.64    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Four Corners Property Trust, Inc.             | Four Corners Property Trust, Inc.                                     | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |     51568 | NS      | $1271151.20   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallus, Inc.                                | Metallus, Inc.                                                        | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |     40036 | NS      | $798718.20    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                               | Whitestone                                                            | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49163 | NS      | $700081.12    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo, Inc.                                    | Gogo, Inc.                                                            | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Long             | EC               | CORP              | US        |    101738 | NS      | $466977.42    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Coeur Mining, Inc.                            | Coeur Mining, Inc.                                                    | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |     99557 | NS      | $2034945.08   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Ltd.                          | Signet Jewelers Ltd.                                                  | CUSIP: N/A<br>LEI: 549300N3XPGE91WV7M22       | Long             | EC               | CORP              | BM        |     18216 | NS      | $1680790.32   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp.                              | Murphy Oil Corp.                                                      | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     41092 | NS      | $1236458.28   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure, Inc.                            | Clear Secure, Inc., Class A                                           | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42621 | NS      | $1390297.02   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties, Inc.          | Easterly Government Properties, Inc., Class A                         | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |     48418 | NS      | $1132497.02   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest, Inc.                                 | SkyWest, Inc.                                                         | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     12864 | NS      | $1241633.28   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| First Merchants Corp.                         | First Merchants Corp.                                                 | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |      9696 | NS      | $385512.96    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AdvanSix, Inc.                                | AdvanSix, Inc.                                                        | CUSIP: 00773T101<br>LEI: 5493009TPRODMCAZLF67 | Long             | EC               | CORP              | US        |     33613 | NS      | $532429.92    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp.                                  | Avista Corp.                                                          | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     39974 | NS      | $1650526.46   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ladder Capital Corp.                          | Ladder Capital Corp.                                                  | CUSIP: 505743104<br>LEI: 549300Q6LLV2QCV67C06 | Long             | EC               | CORP              | US        |     75534 | NS      | $828607.98    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors, Inc.                | Sunstone Hotel Investors, Inc.                                        | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    125472 | NS      | $1100389.44   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp.                         | Kaiser Aluminum Corp.                                                 | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14779 | NS      | $1812200.98   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                          | LXP Industrial Trust                                                  | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     31802 | NS      | $1575789.10   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp.                             | Black Hills Corp.                                                     | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     22370 | NS      | $1632562.60   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies, Inc.                      | Lumen Technologies, Inc.                                              | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |    190511 | NS      | $1680307.02   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutex Health, Inc.                            | Nutex Health, Inc.                                                    | CUSIP: 67079U306<br>LEI: 254900RSD2OET3HENJ50 | Long             | EC               | CORP              | US        |      8839 | NS      | $1315154.81   | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Extreme Networks, Inc.                        | Extreme Networks, Inc.                                                | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     71136 | NS      | $1037162.88   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC, Inc.                                     | RPC, Inc.                                                             | CUSIP: 749660106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125381 | NS      | $833783.65    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| WD-40 Co.                                     | WD-40 Co.                                                             | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |      5474 | NS      | $1265753.02   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| fuboTV, Inc.                                  | fuboTV, Inc.                                                          | CUSIP: 35953D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    405352 | NS      | $903934.96    | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| ADMA Biologics, Inc.                          | ADMA Biologics, Inc.                                                  | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30856 | NS      | $533808.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways, Inc.                   | International Seaways, Inc.                                           | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | MH        |     21640 | NS      | $1290826.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                       | Pebblebrook Hotel Trust                                               | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |     96316 | NS      | $1099928.72   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dole plc                                      | Dole plc                                                              | CUSIP: N/A<br>LEI: 635400JUG5XJXOPPJJ47       | Long             | EC               | CORP              | IE        |     84686 | NS      | $1349047.98   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix, Inc.                                   | Calix, Inc.                                                           | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     25593 | NS      | $1143239.31   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands, Inc.                              | Utz Brands, Inc.                                                      | CUSIP: 918090101<br>LEI: 5299009BHBU2NH5HRN16 | Long             | EC               | CORP              | US        |     66406 | NS      | $699919.24    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| American States Water Co.                     | American States Water Co.                                             | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |     14153 | NS      | $1032602.88   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                         | Urban Edge Properties                                                 | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69924 | NS      | $1358623.32   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin, Inc.                     | Alexander & Baldwin, Inc.                                             | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50946 | NS      | $1056620.04   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| VAALCO Energy, Inc.                           | VAALCO Energy, Inc.                                                   | CUSIP: 91851C201<br>LEI: 549300CFHFVIWB8M6T24 | Long             | EC               | CORP              | US        |     90917 | NS      | $467313.38    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Partners, Inc.                        | Surgery Partners, Inc.                                                | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |     39362 | NS      | $584919.32    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| First BanCorp                                 | First BanCorp                                                         | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     44193 | NS      | $977549.16    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services Corp.            | Stewart Information Services Corp.                                    | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |      6674 | NS      | $450027.82    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardian Pharmacy Services, Inc.              | Guardian Pharmacy Services, Inc., Class A                             | CUSIP: 40145W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11082 | NS      | $334676.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Materion Corp.                                | Materion Corp.                                                        | CUSIP: 576690101<br>LEI: 549300CJ5RI351SUYT02 | Long             | EC               | CORP              | US        |     11968 | NS      | $1654935.04   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Par Pacific Holdings, Inc.                    | Par Pacific Holdings, Inc.                                            | CUSIP: 69888T207<br>LEI: 549300BTNS7MHSHRLR55 | Long             | EC               | CORP              | US        |     32064 | NS      | $1210095.36   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International, Inc.               | CSG Systems International, Inc.                                       | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |     19990 | NS      | $1594202.50   | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Newmark Group, Inc.                           | Newmark Group, Inc., Class A                                          | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83827 | NS      | $1494635.41   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Industrial Co.                         | Global Industrial Co.                                                 | CUSIP: 37892E102<br>LEI: 5493000GO8Z3HEWCGE46 | Long             | EC               | CORP              | US        |      3136 | NS      | $95836.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympic Steel, Inc.                           | Olympic Steel, Inc.                                                   | CUSIP: 68162K106<br>LEI: 549300GQ061U6N6KWJ49 | Long             | EC               | CORP              | US        |     15999 | NS      | $769391.91    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities, Inc.                     | Century Communities, Inc.                                             | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |      6648 | NS      | $418691.04    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Enterprises, Inc.                 | Worthington Enterprises, Inc.                                         | CUSIP: 981811102<br>LEI: 1WRCIANKYOIK6KYE5E82 | Long             | EC               | CORP              | US        |     23544 | NS      | $1308340.08   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease, Inc.                        | Global Net Lease, Inc.                                                | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |    174717 | NS      | $1652822.82   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials, Inc.                         | CSW Industrials, Inc.                                                 | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |      3967 | NS      | $1071010.66   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media, Inc.                          | Outfront Media, Inc.                                                  | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |     66855 | NS      | $1625913.60   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp.                           | CNX Resources Corp.                                                   | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     38313 | NS      | $1486544.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Simulations Plus, Inc.                        | Simulations Plus, Inc.                                                | CUSIP: 829214105<br>LEI: 529900KYRDJAQ8TJCG93 | Long             | EC               | CORP              | US        |     23486 | NS      | $396678.54    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanda Pharmaceuticals, Inc.                   | Vanda Pharmaceuticals, Inc.                                           | CUSIP: 921659108<br>LEI: 529900AY8VOOQBKJ0O70 | Long             | EC               | CORP              | US        |     29917 | NS      | $225574.18    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals, Inc.                | Catalyst Pharmaceuticals, Inc.                                        | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     61023 | NS      | $1482858.90   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Realty Trust                           | Acadia Realty Trust                                                   | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |     23915 | NS      | $478539.15    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corp.                        | Fulton Financial Corp.                                                | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |     45722 | NS      | $944159.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mativ Holdings, Inc.                          | Mativ Holdings, Inc.                                                  | CUSIP: 808541106<br>LEI: 549300Z1FU4IDULG1R21 | Long             | EC               | CORP              | US        |     80494 | NS      | $969952.70    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp.                               | NETSTREIT Corp.                                                       | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     59603 | NS      | $1122920.52   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| 1st Source Corp.                              | 1st Source Corp.                                                      | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6234 | NS      | $419735.22    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MGE Energy, Inc.                              | MGE Energy, Inc.                                                      | CUSIP: 55277P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16935 | NS      | $1352767.80   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp.                                 | Sanmina Corp.                                                         | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |      9963 | NS      | $1411557.84   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hub Group, Inc.                               | Hub Group, Inc., Class A                                              | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8454 | NS      | $402241.32    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp.                                  | Kohl's Corp.                                                          | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |     44768 | NS      | $782096.96    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                                | Ameris Bancorp                                                        | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     20434 | NS      | $1647389.08   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetik Holdings, Inc.                        | Kinetik Holdings, Inc., Class A                                       | CUSIP: 02215L209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23106 | NS      | $945266.46    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Innovative Industrial Properties, Inc.        | Innovative Industrial Properties, Inc.                                | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     20739 | NS      | $1002108.48   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT, Inc.                  | Sabra Health Care REIT, Inc.                                          | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     80650 | NS      | $1510574.50   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| US Physical Therapy, Inc.                     | US Physical Therapy, Inc.                                             | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |      9557 | NS      | $801545.59    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Synaptics, Inc.                               | Synaptics, Inc.                                                       | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |      3139 | NS      | $258998.89    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tredegar Corp.                                | Tredegar Corp.                                                        | CUSIP: 894650100<br>LEI: 54930003228ERHCH6K87 | Long             | EC               | CORP              | US        |     19147 | NS      | $163706.85    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp.                | International Bancshares Corp.                                        | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     15822 | NS      | $1101844.08   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy, Inc.                             | TXNM Energy, Inc.                                                     | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     21782 | NS      | $1283395.44   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| World Kinect Corp.                            | World Kinect Corp.                                                    | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |     35823 | NS      | $963996.93    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks, Inc.                            | A10 Networks, Inc.                                                    | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     65269 | NS      | $1138291.36   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients, Inc.                         | MGP Ingredients, Inc.                                                 | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |     34098 | NS      | $849381.18    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust, Inc.               | Independence Realty Trust, Inc.                                       | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     75303 | NS      | $1257560.10   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp.                         | First Financial Corp.                                                 | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5607 | NS      | $365352.12    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties, Inc.                          | UMH Properties, Inc.                                                  | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     15222 | NS      | $237919.86    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Turning Point Brands, Inc.                    | Turning Point Brands, Inc.                                            | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |     15293 | NS      | $1852746.95   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries, Inc.                      | Patrick Industries, Inc.                                              | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |     13878 | NS      | $1750987.26   | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Uniti Group, Inc.                             | Uniti Group, Inc.                                                     | CUSIP: 912932100<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |     88873 | NS      | $739423.36    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DHT Holdings, Inc.                            | DHT Holdings, Inc.                                                    | CUSIP: N/A<br>LEI: 549300SMD6IVZYT74K40       | Long             | EC               | CORP              | MH        |    108855 | NS      | $1559892.15   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings, Inc.                            | NMI Holdings, Inc., Class A                                           | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     33246 | NS      | $1287285.12   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Water Co. Ltd.                   | Consolidated Water Co. Ltd., Class D                                  | CUSIP: N/A<br>LEI: 5299001BMEW8X9VIJA73       | Long             | EC               | CORP              | KY        |     15120 | NS      | $572745.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products, Inc.             | Installed Building Products, Inc.                                     | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      5750 | NS      | $1656805.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Sturm Ruger & Co., Inc.                       | Sturm Ruger & Co., Inc.                                               | CUSIP: 864159108<br>LEI: 529900DV1BWFJSHFO847 | Long             | EC               | CORP              | US        |     16142 | NS      | $592249.98    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LNG Ltd.                                 | FLEX LNG Ltd.                                                         | CUSIP: N/A<br>LEI: 21380084THHU3MPC3647       | Long             | EC               | CORP              | BM        |     16477 | NS      | $439935.90    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| SunOpta, Inc.                                 | SunOpta, Inc.                                                         | CUSIP: 8676EP108<br>LEI: 54930010CP0KEPPRPA40 | Long             | EC               | CORP              | CA        |    182400 | NS      | $835392.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Myers Industries, Inc.                        | Myers Industries, Inc.                                                | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |     10163 | NS      | $210069.21    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CONMED Corp.                                  | CONMED Corp.                                                          | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | EC               | CORP              | US        |     11978 | NS      | $459835.42    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co.                         | Commercial Metals Co.                                                 | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     23502 | NS      | $1806598.74   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Costamare Bulkers Holdings Ltd.               | Costamare Bulkers Holdings Ltd.                                       | CUSIP: N/A<br>LEI: 529900XOR3ESNE5WKB78       | Long             | EC               | CORP              | MH        |      6855 | NS      | $113313.15    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EverQuote, Inc.                               | EverQuote, Inc., Class A                                              | CUSIP: 30041R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20134 | NS      | $457041.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group, Inc.                     | DigitalBridge Group, Inc.                                             | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |     73860 | NS      | $1136705.40   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Trust Bancorp, Inc.                 | Community Trust Bancorp, Inc.                                         | CUSIP: 204149108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5777 | NS      | $356440.90    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor, Inc.                               | Frontdoor, Inc.                                                       | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |      8807 | NS      | $520581.77    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes, Inc.                               | M/I Homes, Inc.                                                       | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |      9091 | NS      | $1215466.70   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals, Inc.               | Amphastar Pharmaceuticals, Inc.                                       | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     26632 | NS      | $705481.68    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger, Inc.                                  | Tanger, Inc.                                                          | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     44745 | NS      | $1464056.40   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Asbury Automotive Group, Inc.                 | Asbury Automotive Group, Inc.                                         | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |      2776 | NS      | $650999.76    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth, Inc.                       | CTO Realty Growth, Inc.                                               | CUSIP: 22948Q101<br>LEI: 254900ZQ99OFO1WXS678 | Long             | EC               | CORP              | US        |     32632 | NS      | $579870.64    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties, Inc.                          | LTC Properties, Inc.                                                  | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |     43871 | NS      | $1599975.37   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp.                       | Primoris Services Corp.                                               | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |     12491 | NS      | $1851790.75   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| National Presto Industries, Inc.              | National Presto Industries, Inc.                                      | CUSIP: 637215104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2657 | NS      | $338501.80    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpring Health Services, Inc.            | BrightSpring Health Services, Inc.                                    | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27636 | NS      | $1085265.72   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| California Resources Corp.                    | California Resources Corp.                                            | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     26688 | NS      | $1427808.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                       | Brandywine Realty Trust                                               | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               | CORP              | US        |    236593 | NS      | $669558.19    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corp.                             | AdaptHealth Corp.                                                     | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37371 | NS      | $375578.55    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| STAAR Surgical Co.                            | STAAR Surgical Co.                                                    | CUSIP: 852312305<br>LEI: 5299006LRHI7OJ8BY308 | Long             | EC               | CORP              | US        |      7571 | NS      | $143470.45    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals, Inc.                | Supernus Pharmaceuticals, Inc.                                        | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     30876 | NS      | $1486988.16   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust, Inc.                       | Sila Realty Trust, Inc.                                               | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               | CORP              | US        |     24987 | NS      | $608433.45    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| B&G Foods, Inc.                               | B&G Foods, Inc.                                                       | CUSIP: 05508R106<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | EC               | CORP              | US        |    226708 | NS      | $990713.96    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Dorman Products, Inc.                         | Dorman Products, Inc.                                                 | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |      4021 | NS      | $499408.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj, Inc.                                  | Impinj, Inc.                                                          | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      8299 | NS      | $1146091.90   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Spire, Inc.                                   | Spire, Inc.                                                           | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |     18965 | NS      | $1602352.85   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion SA                                      | Orion SA                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |     41684 | NS      | $257607.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes, Inc.                                  | Diodes, Inc.                                                          | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |     14625 | NS      | $865653.75    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| HB Fuller Co.                                 | HB Fuller Co.                                                         | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |      1262 | NS      | $75846.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurinia Pharmaceuticals, Inc.                 | Aurinia Pharmaceuticals, Inc.                                         | CUSIP: 05156V102<br>LEI: 5299008YP2BW4570ML28 | Long             | EC               | CORP              | CA        |     86376 | NS      | $1255043.28   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International, Inc.                      | Digi International, Inc.                                              | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     34320 | NS      | $1478162.40   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold, Inc.                                | Safehold, Inc.                                                        | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               | CORP              | US        |     15681 | NS      | $221258.91    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort, Inc.                 | Monarch Casino & Resort, Inc.                                         | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |      7376 | NS      | $675125.28    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals, Inc.                     | ANI Pharmaceuticals, Inc.                                             | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |     15677 | NS      | $1283162.45   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta, Inc.                                 | Novanta, Inc.                                                         | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      9103 | NS      | $1224717.62   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigel Pharmaceuticals, Inc.                   | Rigel Pharmaceuticals, Inc.                                           | CUSIP: 766559702<br>LEI: 529900KPTNUS5J8K9K66 | Long             | EC               | CORP              | US        |     25546 | NS      | $890533.56    | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Costamare, Inc.                               | Costamare, Inc.                                                       | CUSIP: N/A<br>LEI: 5299003L6NPTZ25LN818       | Long             | EC               | CORP              | MH        |     62452 | NS      | $1047944.56   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp.                                | EchoStar Corp., Class A                                               | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |     19288 | NS      | $2183787.36   | 0.41%             |  |  |  | No            |                  1 | On Loan: —       |
| Protagonist Therapeutics, Inc.                | Protagonist Therapeutics, Inc.                                        | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17455 | NS      | $1427819.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Financial Services, Inc.             | PennyMac Financial Services, Inc.                                     | CUSIP: 70932M107<br>LEI: 549300W1D516HBDEU871 | Long             | EC               | CORP              | US        |     11915 | NS      | $1190546.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden, Inc.                                  | Belden, Inc.                                                          | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      9930 | NS      | $1166874.30   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries, Inc.                          | ABM Industries, Inc.                                                  | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     22461 | NS      | $1034104.44   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries, Inc.              | Advanced Energy Industries, Inc.                                      | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      7179 | NS      | $1833229.44   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ProPetro Holding Corp.                        | ProPetro Holding Corp.                                                | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46865 | NS      | $538478.85    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings, Inc.                           | PROG Holdings, Inc.                                                   | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |     13901 | NS      | $450948.44    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia, Inc.                                   | Adeia, Inc.                                                           | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     82849 | NS      | $1498738.41   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp.                          | Terreno Realty Corp.                                                  | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24852 | NS      | $1529392.08   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TriNet Group, Inc.                            | TriNet Group, Inc.                                                    | CUSIP: 896288107<br>LEI: 5299003FJVBETSFKE990 | Long             | EC               | CORP              | US        |     11984 | NS      | $733900.16    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                       | Kite Realty Group Trust                                               | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61120 | NS      | $1435708.80   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Viant Technology, Inc.                        | Viant Technology, Inc., Class A                                       | CUSIP: 92557A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18020 | NS      | $212996.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corp.                       | Progress Software Corp.                                               | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |     21224 | NS      | $868486.08    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PDL BioPharma, Inc.                           | PDL BioPharma, Inc.                                                   | CUSIP: 69329Y104<br>LEI: FE4K0NQFI4D86DSOL165 | Long             | EC               | CORP              | US        |     22361 | NS      | $4695.81      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Ecovyst, Inc.                                 | Ecovyst, Inc.                                                         | CUSIP: 27923Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    163761 | NS      | $1737504.21   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                   | OFG Bancorp                                                           | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     29030 | NS      | $1169909.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Novagold Resources, Inc.                      | Novagold Resources, Inc.                                              | CUSIP: 66987E206<br>LEI: 529900587LVZTJ2BHS60 | Long             | EC               | CORP              | CA        |    132945 | NS      | $1160609.85   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Insurance Group Ltd.                 | Hamilton Insurance Group Ltd., Class B                                | CUSIP: N/A<br>LEI: 549300W92BN1FIEXG871       | Long             | EC               | CORP              | BM        |     17586 | NS      | $488011.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co., Inc.                   | Franklin Electric Co., Inc.                                           | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |     14731 | NS      | $1467502.22   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co. (The)                            | Macerich Co. (The)                                                    | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     78465 | NS      | $1485342.45   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcellx, Inc.                                 | Arcellx, Inc.                                                         | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16552 | NS      | $1130667.12   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| City Holding Co.                              | City Holding Co.                                                      | CUSIP: 177835105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2798 | NS      | $344405.82    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewell Personal Care Co.                    | Edgewell Personal Care Co.                                            | CUSIP: 28035Q102<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | EC               | CORP              | US        |     61989 | NS      | $1206305.94   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection, Inc.                           | PC Connection, Inc.                                                   | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |     12276 | NS      | $721951.56    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson, Inc.                                  | Matson, Inc.                                                          | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     10196 | NS      | $1634418.80   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular, Inc.                       | LeMaitre Vascular, Inc.                                               | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |     11300 | NS      | $960161.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics, Inc.                   | Benchmark Electronics, Inc.                                           | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |     33083 | NS      | $1724947.62   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Upbound Group, Inc.                           | Upbound Group, Inc.                                                   | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     25520 | NS      | $482328.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | Russell 2000 E-Mini Index                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        12 | NC      | $9254.20      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordic American Tankers Ltd.                  | Nordic American Tankers Ltd.                                          | CUSIP: N/A<br>LEI: 213800W4T8AMPKIPIU94       | Long             | EC               | CORP              | BM        |     64454 | NS      | $268128.64    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreCivic, Inc.                               | CoreCivic, Inc.                                                       | CUSIP: 21871N101<br>LEI: 529900JFA3K6PTLT8B15 | Long             | EC               | CORP              | US        |     68967 | NS      | $1277958.51   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter, Inc.                            | Badger Meter, Inc.                                                    | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      6022 | NS      | $882704.76    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties, Inc.            | Ryman Hospitality Properties, Inc.                                    | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     14172 | NS      | $1342088.40   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corp.                              | Otter Tail Corp.                                                      | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17614 | NS      | $1570464.24   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NeoGenomics, Inc.                             | NeoGenomics, Inc.                                                     | CUSIP: 64049M209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30352 | NS      | $366045.12    | 0.07%             |  |  |  | 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        |     30012 | NS      | $1554621.60   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust, Inc.               | Empire State Realty Trust, Inc., Class A                              | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |     80607 | NS      | $534424.41    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Antimony Corp.                  | United States Antimony Corp.                                          | CUSIP: 911549103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    219630 | NS      | $1609887.90   | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Minerals Technologies, Inc.                   | Minerals Technologies, Inc.                                           | CUSIP: 603158106<br>LEI: 549300D3I1QU67GP6403 | Long             | EC               | CORP              | US        |     19360 | NS      | $1273113.60   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International, Inc.                       | CRA International, Inc.                                               | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6901 | NS      | $1303874.94   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor, Inc.                              | FormFactor, Inc.                                                      | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     22984 | NS      | $1620142.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare, Inc.            | Prestige Consumer Healthcare, Inc.                                    | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17218 | NS      | $1110044.46   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Medical Holdings Corp.                 | Select Medical Holdings Corp.                                         | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57392 | NS      | $863749.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Agricultural Mortgage Corp.           | Federal Agricultural Mortgage Corp., Class C                          | CUSIP: 313148306<br>LEI: 549300MS654K78GYF580 | Long             | EC               | CORP              | US        |      2411 | NS      | $408182.30    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining, Inc.                              | SSR Mining, Inc.                                                      | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | CA        |     74585 | NS      | $1702775.55   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Interparfums, Inc.                            | Interparfums, Inc.                                                    | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5526 | NS      | $539171.82    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp.                          | Centrus Energy Corp., Class A                                         | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |      4968 | NS      | $1382495.04   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Albany International Corp.                    | Albany International Corp., Class A                                   | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |      8374 | NS      | $464673.26    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors, Inc.               | Academy Sports & Outdoors, Inc.                                       | CUSIP: 00402L107<br>LEI: 529900HST589BD301M91 | Long             | EC               | CORP              | US        |     19088 | NS      | $1050030.88   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TriMas Corp.                                  | TriMas Corp.                                                          | CUSIP: 896215209<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | EC               | CORP              | US        |      4637 | NS      | $161228.49    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Enact Holdings, Inc.                          | Enact Holdings, Inc.                                                  | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |     26408 | NS      | $1050246.16   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus, Inc.                                 | Maximus, Inc.                                                         | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     16546 | NS      | $1562604.24   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ScanSource, Inc.                              | ScanSource, Inc.                                                      | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |     20598 | NS      | $885508.02    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems, Inc.                        | NetScout Systems, Inc.                                                | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |     41542 | NS      | $1155283.02   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardmore Shipping Corp.                        | Ardmore Shipping Corp.                                                | CUSIP: N/A<br>LEI: 549300J8HD7K6BHD8O28       | Long             | EC               | CORP              | MH        |     39051 | NS      | $504538.92    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust, Inc.                   | American Assets Trust, Inc.                                           | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50577 | NS      | $913420.62    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellium SE                                | Constellium SE                                                        | CUSIP: N/A<br>LEI: 724500KRJEMC79KAAU28       | Long             | EC               | CORP              | FR        |      6695 | NS      | $150436.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust, Inc.              | Community Healthcare Trust, Inc.                                      | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |     19375 | NS      | $334800.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp.                         | Waystar Holding Corp.                                                 | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29993 | NS      | $796614.08    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial, Inc.                      | Genworth Financial, Inc., Class A                                     | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |    155351 | NS      | $1295627.34   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil & Gas, Inc.                      | Northern Oil & Gas, Inc.                                              | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     20082 | NS      | $502050.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries, Inc.              | Kulicke & Soffa Industries, Inc.                                      | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     23773 | NS      | $1362906.09   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings, Inc.                      | Alarm.com Holdings, Inc.                                              | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |     10947 | NS      | $533994.66    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa, Inc.                                  | Arcosa, Inc.                                                          | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |     14580 | NS      | $1668972.60   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co.                                    | Stepan Co.                                                            | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |     17395 | NS      | $1002125.95   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Co. (The)                            | Marzetti Co. (The)                                                    | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      6893 | NS      | $1182632.01   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic, Inc.                                | Harmonic, Inc.                                                        | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |    101807 | NS      | $989564.04    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Yelp, Inc.                                    | Yelp, Inc.                                                            | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |     36675 | NS      | $1004161.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan, Inc.                                   | Argan, Inc.                                                           | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |      4975 | NS      | $1726872.25   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp.                            | Getty Realty Corp.                                                    | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     44742 | NS      | $1335996.12   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure, Inc.                 | Sterling Infrastructure, Inc.                                         | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      4859 | NS      | $1739084.69   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett, Inc.                          | Douglas Emmett, Inc.                                                  | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77849 | NS      | $822085.44    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                          | JBG SMITH Properties                                                  | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58020 | NS      | $977056.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Construction, Inc.                    | Granite Construction, Inc.                                            | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |     14426 | NS      | $1741795.24   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva, Inc.                                | Innoviva, Inc.                                                        | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     68105 | NS      | $1362100.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NETGEAR, Inc.                                 | NETGEAR, Inc.                                                         | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Long             | EC               | CORP              | US        |     54944 | NS      | $1148879.04   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackbaud, Inc.                               | Blackbaud, Inc.                                                       | CUSIP: 09227Q100<br>LEI: 54930056X3HKFMNG3754 | Long             | EC               | CORP              | US        |      6170 | NS      | $331329.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp.                                | Ingevity Corp.                                                        | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     25559 | NS      | $1681526.61   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp.                      | Perdoceo Education Corp.                                              | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     43991 | NS      | $1409031.73   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Methode Electronics, Inc.                     | Methode Electronics, Inc.                                             | CUSIP: 591520200<br>LEI: 529900VM413LGLUS3F07 | Long             | EC               | CORP              | US        |     39575 | NS      | $316204.25    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease, Inc.                    | Broadstone Net Lease, Inc.                                            | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     88771 | NS      | $1643151.21   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings, Inc.                  | Southwest Gas Holdings, Inc.                                          | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |     19795 | NS      | $1639421.90   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties, Inc.                 | Summit Hotel Properties, Inc.                                         | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |    115327 | NS      | $509745.34    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp.                                 | Sylvamo Corp.                                                         | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |     24804 | NS      | $1213907.76   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Aluminum Co.                          | Century Aluminum Co.                                                  | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |     49874 | NS      | $2260788.42   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corp.                                     | CTS Corp.                                                             | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |     20705 | NS      | $1064444.05   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PrimeEnergy Resources Corp.                   | PrimeEnergy Resources Corp.                                           | CUSIP: 74158E104<br>LEI: 9QMD37QNHRX1B7685Y44 | Long             | EC               | CORP              | US        |      2547 | NS      | $466330.23    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                       | EnerSys                                                               | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |      6528 | NS      | $1176280.32   | 0.22%             |  |  |  | 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        |      5565 | NS      | $50251.95     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pathward Financial, Inc.                      | Pathward Financial, Inc.                                              | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Long             | EC               | CORP              | US        |      8156 | NS      | $736405.24    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International, Inc.                     | Enova International, Inc.                                             | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     11493 | NS      | $1898298.81   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp                       | First Financial Bancorp                                               | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     25666 | NS      | $737640.84    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems, Inc.                       | Commvault Systems, Inc.                                               | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      8645 | NS      | $740876.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW, Inc.                                    | DNOW, Inc.                                                            | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |    111549 | NS      | $1694429.31   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings, Inc.                             | Q2 Holdings, Inc.                                                     | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |     16630 | NS      | $1018587.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN, Inc.                                    | ASGN, Inc.                                                            | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |      9681 | NS      | $504283.29    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Anika Therapeutics, Inc.                      | Anika Therapeutics, Inc.                                              | CUSIP: 035255108<br>LEI: 529900R9LS3Z0O6QH455 | Long             | EC               | CORP              | US        |      4781 | NS      | $44128.63     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Metallurgical Resources, Inc.           | Alpha Metallurgical Resources, Inc.                                   | CUSIP: 020764106<br>LEI: 254900VEBGZO2PY8R678 | Long             | EC               | CORP              | US        |      5047 | NS      | $1058860.60   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes, Inc.                            | Pitney Bowes, Inc.                                                    | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |     88094 | NS      | $918820.42    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands, Inc.                          | Kontoor Brands, Inc.                                                  | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     19081 | NS      | $1139708.13   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT, Inc.                | American Healthcare REIT, Inc.                                        | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     31452 | NS      | $1475413.32   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co., Inc.                   | Phillips Edison & Co., Inc.                                           | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               | CORP              | US        |     38209 | NS      | $1384312.07   | 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        |     32860 | NS      | $668043.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy, Inc.                    | Patterson-UTI Energy, Inc.                                            | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     83852 | NS      | $631405.56    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| G-III Apparel Group Ltd.                      | G-III Apparel Group Ltd.                                              | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |     29126 | NS      | $854848.10    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse, Inc. (The)                  | Chefs' Warehouse, Inc. (The)                                          | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     23579 | NS      | $1483119.10   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Co.                              | Hecla Mining Co.                                                      | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |     93178 | NS      | $2098368.56   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co.                 | Portland General Electric Co.                                         | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     32240 | NS      | $1620060.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp.                         | Quaker Chemical Corp.                                                 | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      8510 | NS      | $1308327.40   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas, Inc.                                 | ONE Gas, Inc.                                                         | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     19775 | NS      | $1573299.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Niagen Bioscience, Inc.                       | Niagen Bioscience, Inc.                                               | CUSIP: 171077407<br>LEI: 529900OPI7B8JPXCVS70 | Long             | EC               | CORP              | US        |     35420 | NS      | $212165.80    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies, Inc.                        | TTM Technologies, Inc.                                                | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     21329 | NS      | $2094507.80   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| 8x8, Inc.                                     | 8x8, Inc.                                                             | CUSIP: 282914100<br>LEI: 254900XWSOC5U1BRW939 | Long             | EC               | CORP              | US        |    282072 | NS      | $468239.52    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters, Inc.               | American Eagle Outfitters, Inc.                                       | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |     39291 | NS      | $915873.21    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock, Inc.                                | Archrock, Inc.                                                        | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     56045 | NS      | $1658371.55   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Globalstar, Inc.                              | Globalstar, Inc.                                                      | CUSIP: 378973507<br>LEI: 549300NEX8I0MSOW0R64 | Long             | EC               | CORP              | US        |     22788 | NS      | $1404196.56   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| eXp World Holdings, Inc.                      | eXp World Holdings, Inc.                                              | CUSIP: 30212W100<br>LEI: 549300TWVVZC283VEC32 | Long             | EC               | CORP              | US        |     18229 | NS      | $164790.16    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| BancFirst Corp.                               | BancFirst Corp.                                                       | CUSIP: 05945F103<br>LEI: 549300EJEHGBP4IO2J30 | Long             | EC               | CORP              | US        |      1973 | NS      | $216931.35    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ, Inc.                                     | AZZ, Inc.                                                             | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |     11539 | NS      | $1434182.31   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Corp. Ltd.                             | Teekay Corp. Ltd.                                                     | CUSIP: N/A<br>LEI: YHKQM2RIPKZYOZ6RVZ46       | Long             | EC               | CORP              | BM        |     76748 | NS      | $785132.04    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Tutor Perini Corp.                            | Tutor Perini Corp.                                                    | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |     16612 | NS      | $1310520.68   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions, Inc.           | Donnelley Financial Solutions, Inc.                                   | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |      6591 | NS      | $341084.25    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Steel, Inc.                       | Worthington Steel, Inc.                                               | CUSIP: 982104101<br>LEI: 2549009ZUUWL3QLK6G24 | Long             | EC               | CORP              | US        |     22330 | NS      | $898335.90    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy, Inc.                          | Liberty Energy, Inc.                                                  | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55767 | NS      | $1374656.55   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings, Inc.            | Harmony Biosciences Holdings, Inc.                                    | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15008 | NS      | $548092.16    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners, Inc.                    | Green Brick Partners, Inc.                                            | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |     15632 | NS      | $1084704.48   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NANO Nuclear Energy, Inc.                     | NANO Nuclear Energy, Inc.                                             | CUSIP: 63010H108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30013 | NS      | $882232.14    | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Select Water Solutions, Inc.                  | Select Water Solutions, Inc.                                          | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |     91384 | NS      | $1104832.56   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ramaco Resources, Inc.                        | Ramaco Resources, Inc., Class A                                       | CUSIP: 75134P600<br>LEI: 5493001BYUI4TCQOPF70 | Long             | EC               | CORP              | US        |     40616 | NS      | $792418.16    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Haverty Furniture Cos., Inc.                  | Haverty Furniture Cos., Inc.                                          | CUSIP: 419596101<br>LEI: 529900CVFMMIRXZVPD70 | Long             | EC               | CORP              | US        |     31749 | NS      | $803884.68    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ribbon Communications, Inc.                   | Ribbon Communications, Inc.                                           | CUSIP: 762544104<br>LEI: 549300L1E8Z8RL7CUL52 | Long             | EC               | CORP              | US        |      1005 | NS      | $2633.10      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus, Inc.                                  | Rambus, Inc.                                                          | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     15602 | NS      | $1775975.66   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Natural Resources, Inc.                  | Core Natural Resources, Inc.                                          | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     18465 | NS      | $1761191.70   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro, Inc.                                   | Enpro, Inc.                                                           | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |      6897 | NS      | $1646865.66   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Powerfleet, Inc. NJ                           | Powerfleet, Inc. NJ                                                   | CUSIP: 73931J109<br>LEI: 2549007NKEFPYEH4MF81 | Long             | EC               | CORP              | US        |    142076 | NS      | $726008.36    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp.                                  | Avient Corp.                                                          | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     34693 | NS      | $1254151.95   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorian LPG Ltd.                               | Dorian LPG Ltd.                                                       | CUSIP: N/A<br>LEI: 549300WP1W2WGMC7F395       | Long             | EC               | CORP              | MH        |     30063 | NS      | $887760.39    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle, Inc. (The)                            | Buckle, Inc. (The)                                                    | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     26519 | NS      | $1254348.70   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                             | RLJ Lodging Trust                                                     | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    141842 | NS      | $1053886.06   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares, Inc.                         | Home BancShares, Inc.                                                 | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45383 | NS      | $1311568.70   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Carriage Services, Inc.                       | Carriage Services, Inc.                                               | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12136 | NS      | $520755.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group, Inc.                            | StoneX Group, Inc.                                                    | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      9264 | NS      | $1039976.64   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Cable One, Inc.                               | Cable One, Inc.                                                       | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Long             | EC               | CORP              | US        |      6140 | NS      | $497278.60    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Tri Pointe Homes, Inc.                        | Tri Pointe Homes, Inc.                                                | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29413 | NS      | $980923.55    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings, Inc.                      | Energizer Holdings, Inc.                                              | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     56991 | NS      | $1244113.53   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Perpetua Resources Corp.                      | Perpetua Resources Corp.                                              | CUSIP: 714266103<br>LEI: 529900BQBMS383SEPY05 | Long             | EC               | CORP              | CA        |     55837 | NS      | $1486380.94   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Pediatrix Medical Group, Inc.                 | Pediatrix Medical Group, Inc.                                         | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70246 | NS      | $1501859.48   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group, Inc.                            | Movado Group, Inc.                                                    | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     25227 | NS      | $575175.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersons, Inc. (The)                         | Andersons, Inc. (The)                                                 | CUSIP: 034164103<br>LEI: L38MWB8MVRFV7HVJPU11 | Long             | EC               | CORP              | US        |     27899 | NS      | $1729459.01   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp.                    | Dynavax Technologies Corp.                                            | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |     78231 | NS      | $1211407.04   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes plc                                  | Alkermes plc                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |     31955 | NS      | $1082954.95   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Minerals International, Inc.          | Compass Minerals International, Inc.                                  | CUSIP: 20451N101<br>LEI: 2549008X9G8XP7YJGC47 | Long             | EC               | CORP              | US        |     42855 | NS      | $1070517.90   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co.                           | Graham Holdings Co., Class B                                          | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      1190 | NS      | $1388289.70   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                                | LCI Industries                                                        | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |      6986 | NS      | $1024776.34   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SunCoke Energy, Inc.                          | SunCoke Energy, Inc.                                                  | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |    126150 | NS      | $991539.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| American Vanguard Corp.                       | American Vanguard Corp.                                               | CUSIP: 030371108<br>LEI: 529900GWI78WZA5M9783 | Long             | EC               | CORP              | US        |     43550 | NS      | $221234.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CompX International, Inc.                     | CompX International, Inc.                                             | CUSIP: 20563P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4430 | NS      | $103219.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| CareTrust REIT, Inc.                          | CareTrust REIT, Inc.                                                  | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     41799 | NS      | $1560774.66   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp.                                   | Cabot Corp.                                                           | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     16720 | NS      | $1207016.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.   | HA Sustainable Infrastructure Capital, Inc.                           | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |     46305 | NS      | $1593355.05   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp.                          | PotlatchDeltic Corp.                                                  | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |     31107 | NS      | $1298095.11   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb Operations, Inc.                       | OmniAb Operations, Inc.                                               | CUSIP: 68218J202<br>LEI: N/A                  | Long             |  | CORP              | US        |      1382 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| Hillenbrand, Inc.                             | Hillenbrand, Inc.                                                     | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |      4540 | NS      | $144871.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand, Inc.                             | Masterbrand, Inc.                                                     | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |     30409 | NS      | $368557.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll, Inc.                             | MillerKnoll, Inc.                                                     | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     28169 | NS      | $565633.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**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