# EDGAR Filing Document

**Accession Number:** 0001485894
**File Stem:** 0002071691-25-001860
**Filing Date:** 2025-9
**Character Count:** 207600
**Document Hash:** b98a022864019005e34ee8699ed5a2f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-001860.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-001860

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22903
- **FILM NUMBER:** 251341875

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

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

## Series and Classes Contracts Data

### JPMorgan U.S. Value Factor ETF (Series ID: S000059314)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000194673 | JPMorgan U.S. Value Factor ETF | JVAL            |

## Nport-Ex

**JPMorgan U.S. Value Factor ETF**

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

**(Unaudited)** 

---

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

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (Unaudited)

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — 99.8%** | **Common Stocks — 99.8%** | **Common Stocks — 99.8%** |
| **Aerospace & Defense — 1.7%** | **Aerospace & Defense — 1.7%** | **Aerospace & Defense — 1.7%** |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6105 | &nbsp;&nbsp;&nbsp;&nbsp; 1902379 |
| &nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3730 | &nbsp;&nbsp;&nbsp;&nbsp; 1040148 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5811 | &nbsp;&nbsp;&nbsp;&nbsp; 1596979 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 20377 | &nbsp;&nbsp;&nbsp;&nbsp; 3210804 |
| &nbsp;&nbsp;&nbsp; Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10911 | &nbsp;&nbsp;&nbsp;&nbsp; 848548 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8598858 |
| **Automobiles & Parts — 1.7%** | **Automobiles & Parts — 1.7%** | **Automobiles & Parts — 1.7%** |
| &nbsp;&nbsp;&nbsp; Aptiv plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 12733 | &nbsp;&nbsp;&nbsp;&nbsp; 873993 |
| &nbsp;&nbsp;&nbsp; BorgWarner, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 23658 | &nbsp;&nbsp;&nbsp;&nbsp; 870614 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp; 159886 | &nbsp;&nbsp;&nbsp;&nbsp; 1769938 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp; 36537 | &nbsp;&nbsp;&nbsp;&nbsp; 1948884 |
| &nbsp;&nbsp;&nbsp; Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 30307 | &nbsp;&nbsp;&nbsp;&nbsp; 800711 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp; 8472 | &nbsp;&nbsp;&nbsp;&nbsp; 1091871 |
| &nbsp;&nbsp;&nbsp; Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6647 | &nbsp;&nbsp;&nbsp;&nbsp; 626746 |
| &nbsp;&nbsp;&nbsp; LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 22748 | &nbsp;&nbsp;&nbsp;&nbsp; 670384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8653141 |
| **Banks — 6.3%** | **Banks — 6.3%** | **Banks — 6.3%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 59084 | &nbsp;&nbsp;&nbsp;&nbsp; 2792901 |
| &nbsp;&nbsp;&nbsp; Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp; 16028 | &nbsp;&nbsp;&nbsp;&nbsp; 790180 |
| &nbsp;&nbsp;&nbsp; BOK Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4531 | &nbsp;&nbsp;&nbsp;&nbsp; 460032 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 43314 | &nbsp;&nbsp;&nbsp;&nbsp; 4058522 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31824 | &nbsp;&nbsp;&nbsp;&nbsp; 1518641 |
| &nbsp;&nbsp;&nbsp; Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 35526 | &nbsp;&nbsp;&nbsp;&nbsp; 845519 |
| &nbsp;&nbsp;&nbsp; Comerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19935 | &nbsp;&nbsp;&nbsp;&nbsp; 1347008 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 36797 | &nbsp;&nbsp;&nbsp;&nbsp; 1529651 |
| &nbsp;&nbsp;&nbsp; First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 27159 | &nbsp;&nbsp;&nbsp;&nbsp; 658606 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 59149 | &nbsp;&nbsp;&nbsp;&nbsp; 1290040 |
| &nbsp;&nbsp;&nbsp; FNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 75660 | &nbsp;&nbsp;&nbsp;&nbsp; 1159111 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 87338 | &nbsp;&nbsp;&nbsp;&nbsp; 1434963 |
| &nbsp;&nbsp;&nbsp; KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp; 69992 | &nbsp;&nbsp;&nbsp;&nbsp; 1254257 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7510 | &nbsp;&nbsp;&nbsp;&nbsp; 1417137 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 3518 | &nbsp;&nbsp;&nbsp;&nbsp; 669370 |
| &nbsp;&nbsp;&nbsp; Popular, Inc. (Puerto Rico) | &nbsp;&nbsp;&nbsp;&nbsp; 10638 | &nbsp;&nbsp;&nbsp;&nbsp; 1218902 |
| &nbsp;&nbsp;&nbsp; Prosperity Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10482 | &nbsp;&nbsp;&nbsp;&nbsp; 698311 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 58533 | &nbsp;&nbsp;&nbsp;&nbsp; 1482641 |
| &nbsp;&nbsp;&nbsp; Synovus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 23635 | &nbsp;&nbsp;&nbsp;&nbsp; 1116517 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 46779 | &nbsp;&nbsp;&nbsp;&nbsp; 2044710 |
| &nbsp;&nbsp;&nbsp; US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 46677 | &nbsp;&nbsp;&nbsp;&nbsp; 2098598 |
| &nbsp;&nbsp;&nbsp; Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 16781 | &nbsp;&nbsp;&nbsp;&nbsp; 967425 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp | &nbsp;&nbsp;&nbsp;&nbsp; 14285 | &nbsp;&nbsp;&nbsp;&nbsp; 1107945 |
| &nbsp;&nbsp;&nbsp; Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp; 18225 | &nbsp;&nbsp;&nbsp;&nbsp; 977224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 32938211 |
| **Beverages — 0.2%** | **Beverages — 0.2%** | **Beverages — 0.2%** |
| &nbsp;&nbsp;&nbsp; Molson Coors Beverage Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 20493 | &nbsp;&nbsp;&nbsp;&nbsp; 998419 |
| **Chemicals — 0.9%** | **Chemicals — 0.9%** | **Chemicals — 0.9%** |
| &nbsp;&nbsp;&nbsp; Celanese Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6982 | &nbsp;&nbsp;&nbsp;&nbsp; 364670 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Chemicals — continued** | **Chemicals — continued** | **Chemicals — continued** |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7421 | &nbsp;&nbsp;&nbsp;&nbsp; 688891 |
| &nbsp;&nbsp;&nbsp; Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp; 9119 | &nbsp;&nbsp;&nbsp;&nbsp; 662131 |
| &nbsp;&nbsp;&nbsp; FMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 26335 | &nbsp;&nbsp;&nbsp;&nbsp; 1028118 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 16531 | &nbsp;&nbsp;&nbsp;&nbsp; 957641 |
| &nbsp;&nbsp;&nbsp; Mosaic Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 32818 | &nbsp;&nbsp;&nbsp;&nbsp; 1181776 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4883227 |
| **Construction & Materials — 1.4%** | **Construction & Materials — 1.4%** | **Construction & Materials — 1.4%** |
| &nbsp;&nbsp;&nbsp; A O Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9481 | &nbsp;&nbsp;&nbsp;&nbsp; 671160 |
| &nbsp;&nbsp;&nbsp; Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3198 | &nbsp;&nbsp;&nbsp;&nbsp; 995697 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7648 | &nbsp;&nbsp;&nbsp;&nbsp; 972290 |
| &nbsp;&nbsp;&nbsp; CRH plc | &nbsp;&nbsp;&nbsp;&nbsp; 17503 | &nbsp;&nbsp;&nbsp;&nbsp; 1670661 |
| &nbsp;&nbsp;&nbsp; Everus Construction Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3018 | &nbsp;&nbsp;&nbsp;&nbsp; 224117 |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11639 | &nbsp;&nbsp;&nbsp;&nbsp; 634791 |
| &nbsp;&nbsp;&nbsp; Louisiana-Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6546 | &nbsp;&nbsp;&nbsp;&nbsp; 591824 |
| &nbsp;&nbsp;&nbsp; Mohawk Industries, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5646 | &nbsp;&nbsp;&nbsp;&nbsp; 646524 |
| &nbsp;&nbsp;&nbsp; Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp; 7123 | &nbsp;&nbsp;&nbsp;&nbsp; 993160 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7400224 |
| **Consumer Services — 0.8%** | **Consumer Services — 0.8%** | **Consumer Services — 0.8%** |
| &nbsp;&nbsp;&nbsp; eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20281 | &nbsp;&nbsp;&nbsp;&nbsp; 1860782 |
| &nbsp;&nbsp;&nbsp; H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18224 | &nbsp;&nbsp;&nbsp;&nbsp; 990292 |
| &nbsp;&nbsp;&nbsp; Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp; 14577 | &nbsp;&nbsp;&nbsp;&nbsp; 1112371 |
| &nbsp;&nbsp;&nbsp; U-Haul Holding Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3860 | &nbsp;&nbsp;&nbsp;&nbsp; 223339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4186784 |
| **Electricity — 2.0%** | **Electricity — 2.0%** | **Electricity — 2.0%** |
| &nbsp;&nbsp;&nbsp; Brookfield Renewable Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 12452 | &nbsp;&nbsp;&nbsp;&nbsp; 456117 |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 27445 | &nbsp;&nbsp;&nbsp;&nbsp; 895530 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15560 | &nbsp;&nbsp;&nbsp;&nbsp; 1610460 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9235 | &nbsp;&nbsp;&nbsp;&nbsp; 539786 |
| &nbsp;&nbsp;&nbsp; Edison International | &nbsp;&nbsp;&nbsp;&nbsp; 26686 | &nbsp;&nbsp;&nbsp;&nbsp; 1390874 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 18305 | &nbsp;&nbsp;&nbsp;&nbsp; 1295994 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 39878 | &nbsp;&nbsp;&nbsp;&nbsp; 1792117 |
| &nbsp;&nbsp;&nbsp; OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 25613 | &nbsp;&nbsp;&nbsp;&nbsp; 1163342 |
| &nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12943 | &nbsp;&nbsp;&nbsp;&nbsp; 1172895 |
| &nbsp;&nbsp;&nbsp; PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 5165 | &nbsp;&nbsp;&nbsp;&nbsp; 184339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10501454 |
| **Electronic & Electrical Equipment — 1.5%** | **Electronic & Electrical Equipment — 1.5%** | **Electronic & Electrical Equipment — 1.5%** |
| &nbsp;&nbsp;&nbsp; Crane NXT Co. | &nbsp;&nbsp;&nbsp;&nbsp; 12980 | &nbsp;&nbsp;&nbsp;&nbsp; 770233 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International plc | &nbsp;&nbsp;&nbsp;&nbsp; 20659 | &nbsp;&nbsp;&nbsp;&nbsp; 2169195 |
| &nbsp;&nbsp;&nbsp; MKS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6541 | &nbsp;&nbsp;&nbsp;&nbsp; 622572 |
| &nbsp;&nbsp;&nbsp; nVent Electric plc | &nbsp;&nbsp;&nbsp;&nbsp; 9692 | &nbsp;&nbsp;&nbsp;&nbsp; 760047 |
| &nbsp;&nbsp;&nbsp; Pentair plc | &nbsp;&nbsp;&nbsp;&nbsp; 12907 | &nbsp;&nbsp;&nbsp;&nbsp; 1319095 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding plc | &nbsp;&nbsp;&nbsp;&nbsp; 28392 | &nbsp;&nbsp;&nbsp;&nbsp; 873338 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6233 | &nbsp;&nbsp;&nbsp;&nbsp; 1289982 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7804462 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Finance & Credit Services — 0.7%** | **Finance & Credit Services — 0.7%** | **Finance & Credit Services — 0.7%** |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 31656 | &nbsp;&nbsp;&nbsp;&nbsp; 1198179 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 40673 | &nbsp;&nbsp;&nbsp;&nbsp; 1053431 |
| &nbsp;&nbsp;&nbsp; OneMain Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21028 | &nbsp;&nbsp;&nbsp;&nbsp; 1215208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3466818 |
| **Food Producers — 2.3%** | **Food Producers — 2.3%** | **Food Producers — 2.3%** |
| &nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp; 26696 | &nbsp;&nbsp;&nbsp;&nbsp; 1446389 |
| &nbsp;&nbsp;&nbsp; Bunge Global SA | &nbsp;&nbsp;&nbsp;&nbsp; 14322 | &nbsp;&nbsp;&nbsp;&nbsp; 1142323 |
| &nbsp;&nbsp;&nbsp; Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 48262 | &nbsp;&nbsp;&nbsp;&nbsp; 881264 |
| &nbsp;&nbsp;&nbsp; Flowers Foods, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 33786 | &nbsp;&nbsp;&nbsp;&nbsp; 535508 |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25594 | &nbsp;&nbsp;&nbsp;&nbsp; 1253594 |
| &nbsp;&nbsp;&nbsp; Hershey Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 3405 | &nbsp;&nbsp;&nbsp;&nbsp; 633773 |
| &nbsp;&nbsp;&nbsp; Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 21787 | &nbsp;&nbsp;&nbsp;&nbsp; 611997 |
| &nbsp;&nbsp;&nbsp; Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7487 | &nbsp;&nbsp;&nbsp;&nbsp; 984840 |
| &nbsp;&nbsp;&nbsp; J M Smucker Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 7406 | &nbsp;&nbsp;&nbsp;&nbsp; 794960 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 48059 | &nbsp;&nbsp;&nbsp;&nbsp; 1319700 |
| &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11348 | &nbsp;&nbsp;&nbsp;&nbsp; 537782 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5724 | &nbsp;&nbsp;&nbsp;&nbsp; 605656 |
| &nbsp;&nbsp;&nbsp; The Campbell's Co. | &nbsp;&nbsp;&nbsp;&nbsp; 21659 | &nbsp;&nbsp;&nbsp;&nbsp; 691355 |
| &nbsp;&nbsp;&nbsp; Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 13199 | &nbsp;&nbsp;&nbsp;&nbsp; 690308 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12129449 |
| **Gas, Water & Multi-utilities — 0.6%** | **Gas, Water & Multi-utilities — 0.6%** | **Gas, Water & Multi-utilities — 0.6%** |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3884 | &nbsp;&nbsp;&nbsp;&nbsp; 472450 |
| &nbsp;&nbsp;&nbsp; MDU Resources Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 57588 | &nbsp;&nbsp;&nbsp;&nbsp; 993393 |
| &nbsp;&nbsp;&nbsp; National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp; 7132 | &nbsp;&nbsp;&nbsp;&nbsp; 618986 |
| &nbsp;&nbsp;&nbsp; UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 30850 | &nbsp;&nbsp;&nbsp;&nbsp; 1116153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3200982 |
| **General Industrials — 1.9%** | **General Industrials — 1.9%** | **General Industrials — 1.9%** |
| &nbsp;&nbsp;&nbsp; Amcor plc | &nbsp;&nbsp;&nbsp;&nbsp; 145784 | &nbsp;&nbsp;&nbsp;&nbsp; 1363080 |
| &nbsp;&nbsp;&nbsp; Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11798 | &nbsp;&nbsp;&nbsp;&nbsp; 1172249 |
| &nbsp;&nbsp;&nbsp; Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7834 | &nbsp;&nbsp;&nbsp;&nbsp; 1419051 |
| &nbsp;&nbsp;&nbsp; Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25595 | &nbsp;&nbsp;&nbsp;&nbsp; 596108 |
| &nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20190 | &nbsp;&nbsp;&nbsp;&nbsp; 1451661 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp; 39223 | &nbsp;&nbsp;&nbsp;&nbsp; 877026 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp; 6162 | &nbsp;&nbsp;&nbsp;&nbsp; 1193888 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 18627 | &nbsp;&nbsp;&nbsp;&nbsp; 545212 |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19724 | &nbsp;&nbsp;&nbsp;&nbsp; 917758 |
| &nbsp;&nbsp;&nbsp; Sonoco Products Co. | &nbsp;&nbsp;&nbsp;&nbsp; 12978 | &nbsp;&nbsp;&nbsp;&nbsp; 584918 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10120951 |
| **Health Care Providers — 2.1%** | **Health Care Providers — 2.1%** | **Health Care Providers — 2.1%** |
| &nbsp;&nbsp;&nbsp; Centene Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 18811 | &nbsp;&nbsp;&nbsp;&nbsp; 490403 |
| &nbsp;&nbsp;&nbsp; Cigna Group (The) | &nbsp;&nbsp;&nbsp;&nbsp; 7526 | &nbsp;&nbsp;&nbsp;&nbsp; 2012302 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5788 | &nbsp;&nbsp;&nbsp;&nbsp; 1638467 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7825 | &nbsp;&nbsp;&nbsp;&nbsp; 861611 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3824 | &nbsp;&nbsp;&nbsp;&nbsp; 955503 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 6963 | &nbsp;&nbsp;&nbsp;&nbsp; 1122992 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (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; UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10378 | &nbsp;&nbsp;&nbsp;&nbsp; 2589934 |
| &nbsp;&nbsp;&nbsp; Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 6165 | &nbsp;&nbsp;&nbsp;&nbsp; 1026164 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10697376 |
| **Household Goods & Home Construction — 1.3%** | **Household Goods & Home Construction — 1.3%** | **Household Goods & Home Construction — 1.3%** |
| &nbsp;&nbsp;&nbsp; DR Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9989 | &nbsp;&nbsp;&nbsp;&nbsp; 1426829 |
| &nbsp;&nbsp;&nbsp; Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 9461 | &nbsp;&nbsp;&nbsp;&nbsp; 1061335 |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 64497 | &nbsp;&nbsp;&nbsp;&nbsp; 361828 |
| &nbsp;&nbsp;&nbsp; NVR, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; 860642 |
| &nbsp;&nbsp;&nbsp; PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10757 | &nbsp;&nbsp;&nbsp;&nbsp; 1214680 |
| &nbsp;&nbsp;&nbsp; Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8527 | &nbsp;&nbsp;&nbsp;&nbsp; 1009256 |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 8249 | &nbsp;&nbsp;&nbsp;&nbsp; 684997 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6619567 |
| **Industrial Engineering — 2.5%** | **Industrial Engineering — 2.5%** | **Industrial Engineering — 2.5%** |
| &nbsp;&nbsp;&nbsp; AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9519 | &nbsp;&nbsp;&nbsp;&nbsp; 1122956 |
| &nbsp;&nbsp;&nbsp; Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12825 | &nbsp;&nbsp;&nbsp;&nbsp; 747569 |
| &nbsp;&nbsp;&nbsp; Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10352 | &nbsp;&nbsp;&nbsp;&nbsp; 4534383 |
| &nbsp;&nbsp;&nbsp; CNH Industrial NV | &nbsp;&nbsp;&nbsp;&nbsp; 90741 | &nbsp;&nbsp;&nbsp;&nbsp; 1176003 |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5404 | &nbsp;&nbsp;&nbsp;&nbsp; 1986619 |
| &nbsp;&nbsp;&nbsp; Gates Industrial Corp. plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 34115 | &nbsp;&nbsp;&nbsp;&nbsp; 846052 |
| &nbsp;&nbsp;&nbsp; Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3939 | &nbsp;&nbsp;&nbsp;&nbsp; 1265167 |
| &nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 9889 | &nbsp;&nbsp;&nbsp;&nbsp; 668991 |
| &nbsp;&nbsp;&nbsp; Toro Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 7222 | &nbsp;&nbsp;&nbsp;&nbsp; 536234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12883974 |
| **Industrial Metals & Mining — 0.5%** | **Industrial Metals & Mining — 0.5%** | **Industrial Metals & Mining — 0.5%** |
| &nbsp;&nbsp;&nbsp; Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 10442 | &nbsp;&nbsp;&nbsp;&nbsp; 1493937 |
| &nbsp;&nbsp;&nbsp; Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4051 | &nbsp;&nbsp;&nbsp;&nbsp; 1175317 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2669254 |
| **Industrial Support Services — 2.2%** | **Industrial Support Services — 2.2%** | **Industrial Support Services — 2.2%** |
| &nbsp;&nbsp;&nbsp; ADT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 127858 | &nbsp;&nbsp;&nbsp;&nbsp; 1067614 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3978 | &nbsp;&nbsp;&nbsp;&nbsp; 426959 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12262 | &nbsp;&nbsp;&nbsp;&nbsp; 2636330 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8048 | &nbsp;&nbsp;&nbsp;&nbsp; 639092 |
| &nbsp;&nbsp;&nbsp; Genpact Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 16517 | &nbsp;&nbsp;&nbsp;&nbsp; 727574 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10472 | &nbsp;&nbsp;&nbsp;&nbsp; 837236 |
| &nbsp;&nbsp;&nbsp; ManpowerGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 17668 | &nbsp;&nbsp;&nbsp;&nbsp; 728805 |
| &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 11623 | &nbsp;&nbsp;&nbsp;&nbsp; 1006784 |
| &nbsp;&nbsp;&nbsp; Robert Half, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15153 | &nbsp;&nbsp;&nbsp;&nbsp; 559297 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp; 22728 | &nbsp;&nbsp;&nbsp;&nbsp; 1583460 |
| &nbsp;&nbsp;&nbsp; Western Union Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 120121 | &nbsp;&nbsp;&nbsp;&nbsp; 966974 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11180125 |
| **Industrial Transportation — 1.8%** | **Industrial Transportation — 1.8%** | **Industrial Transportation — 1.8%** |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 6141 | &nbsp;&nbsp;&nbsp;&nbsp; 340212 |
| &nbsp;&nbsp;&nbsp; Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11338 | &nbsp;&nbsp;&nbsp;&nbsp; 1021214 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7717 | &nbsp;&nbsp;&nbsp;&nbsp; 1724672 |
| &nbsp;&nbsp;&nbsp; Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9962 | &nbsp;&nbsp;&nbsp;&nbsp; 1260492 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (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; PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 17549 | &nbsp;&nbsp;&nbsp;&nbsp; 1733139 |
| &nbsp;&nbsp;&nbsp; Ryder System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7492 | &nbsp;&nbsp;&nbsp;&nbsp; 1331403 |
| &nbsp;&nbsp;&nbsp; Schneider National, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 18297 | &nbsp;&nbsp;&nbsp;&nbsp; 447362 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 15877 | &nbsp;&nbsp;&nbsp;&nbsp; 1367962 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9226456 |
| **Investment Banking & Brokerage Services — 1.8%** | **Investment Banking & Brokerage Services — 1.8%** | **Investment Banking & Brokerage Services — 1.8%** |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 23055 | &nbsp;&nbsp;&nbsp;&nbsp; 2338930 |
| &nbsp;&nbsp;&nbsp; Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 34686 | &nbsp;&nbsp;&nbsp;&nbsp; 832464 |
| &nbsp;&nbsp;&nbsp; Invesco Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 60650 | &nbsp;&nbsp;&nbsp;&nbsp; 1274257 |
| &nbsp;&nbsp;&nbsp; Janus Henderson Group plc | &nbsp;&nbsp;&nbsp;&nbsp; 26751 | &nbsp;&nbsp;&nbsp;&nbsp; 1158318 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8053 | &nbsp;&nbsp;&nbsp;&nbsp; 464336 |
| &nbsp;&nbsp;&nbsp; Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16184 | &nbsp;&nbsp;&nbsp;&nbsp; 1259601 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 14979 | &nbsp;&nbsp;&nbsp;&nbsp; 1673903 |
| &nbsp;&nbsp;&nbsp; Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6562 | &nbsp;&nbsp;&nbsp;&nbsp; 459340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9461149 |
| **Leisure Goods — 1.1%** | **Leisure Goods — 1.1%** | **Leisure Goods — 1.1%** |
| &nbsp;&nbsp;&nbsp; Garmin Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 7362 | &nbsp;&nbsp;&nbsp;&nbsp; 1610511 |
| &nbsp;&nbsp;&nbsp; Harley-Davidson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28737 | &nbsp;&nbsp;&nbsp;&nbsp; 699172 |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10145 | &nbsp;&nbsp;&nbsp;&nbsp; 762498 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 31119 | &nbsp;&nbsp;&nbsp;&nbsp; 529334 |
| &nbsp;&nbsp;&nbsp; Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 1937 | &nbsp;&nbsp;&nbsp;&nbsp; 596867 |
| &nbsp;&nbsp;&nbsp; Thor Industries, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 10134 | &nbsp;&nbsp;&nbsp;&nbsp; 922093 |
| &nbsp;&nbsp;&nbsp; YETI Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 17734 | &nbsp;&nbsp;&nbsp;&nbsp; 651547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5772022 |
| **Life Insurance — 0.6%** | **Life Insurance — 0.6%** | **Life Insurance — 0.6%** |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 17287 | &nbsp;&nbsp;&nbsp;&nbsp; 658808 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15033 | &nbsp;&nbsp;&nbsp;&nbsp; 1557118 |
| &nbsp;&nbsp;&nbsp; Unum Group | &nbsp;&nbsp;&nbsp;&nbsp; 15469 | &nbsp;&nbsp;&nbsp;&nbsp; 1110829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3326755 |
| **Media — 2.3%** | **Media — 2.3%** | **Media — 2.3%** |
| &nbsp;&nbsp;&nbsp; Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 21995 | &nbsp;&nbsp;&nbsp;&nbsp; 1226441 |
| &nbsp;&nbsp;&nbsp; Interpublic Group of Cos., Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 31921 | &nbsp;&nbsp;&nbsp;&nbsp; 785257 |
| &nbsp;&nbsp;&nbsp; New York Times Co. (The), Class A | &nbsp;&nbsp;&nbsp;&nbsp; 11292 | &nbsp;&nbsp;&nbsp;&nbsp; 585942 |
| &nbsp;&nbsp;&nbsp; News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 42576 | &nbsp;&nbsp;&nbsp;&nbsp; 1248328 |
| &nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6295 | &nbsp;&nbsp;&nbsp;&nbsp; 1177858 |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13319 | &nbsp;&nbsp;&nbsp;&nbsp; 959634 |
| &nbsp;&nbsp;&nbsp; Paramount Global, Class B | &nbsp;&nbsp;&nbsp;&nbsp; 54323 | &nbsp;&nbsp;&nbsp;&nbsp; 682840 |
| &nbsp;&nbsp;&nbsp; Sirius XM Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26084 | &nbsp;&nbsp;&nbsp;&nbsp; 550894 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 31358 | &nbsp;&nbsp;&nbsp;&nbsp; 3735051 |
| &nbsp;&nbsp;&nbsp; Warner Bros Discovery, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 90848 | &nbsp;&nbsp;&nbsp;&nbsp; 1196468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12148713 |
| **Medical Equipment & Services — 1.3%** | **Medical Equipment & Services — 1.3%** | **Medical Equipment & Services — 1.3%** |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 1372 | &nbsp;&nbsp;&nbsp;&nbsp; 244559 |
| &nbsp;&nbsp;&nbsp; Henry Schein, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4989 | &nbsp;&nbsp;&nbsp;&nbsp; 337506 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3343 | &nbsp;&nbsp;&nbsp;&nbsp; 869447 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Medical Equipment & Services — continued** | **Medical Equipment & Services — continued** | **Medical Equipment & Services — continued** |
| &nbsp;&nbsp;&nbsp; Medtronic plc | &nbsp;&nbsp;&nbsp;&nbsp; 29158 | &nbsp;&nbsp;&nbsp;&nbsp; 2631218 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7306 | &nbsp;&nbsp;&nbsp;&nbsp; 1223097 |
| &nbsp;&nbsp;&nbsp; Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5609 | &nbsp;&nbsp;&nbsp;&nbsp; 493031 |
| &nbsp;&nbsp;&nbsp; Teleflex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1927 | &nbsp;&nbsp;&nbsp;&nbsp; 230277 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8234 | &nbsp;&nbsp;&nbsp;&nbsp; 754646 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6783781 |
| **Mortgage Real Estate Investment Trusts — 0.7%** | **Mortgage Real Estate Investment Trusts — 0.7%** | **Mortgage Real Estate Investment Trusts — 0.7%** |
| &nbsp;&nbsp;&nbsp; AGNC Investment Corp. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 61914 | &nbsp;&nbsp;&nbsp;&nbsp; 583849 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 45586 | &nbsp;&nbsp;&nbsp;&nbsp; 926764 |
| &nbsp;&nbsp;&nbsp; Rithm Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 92171 | &nbsp;&nbsp;&nbsp;&nbsp; 1108817 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 46276 | &nbsp;&nbsp;&nbsp;&nbsp; 900531 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3519961 |
| **Non-life Insurance — 1.1%** | **Non-life Insurance — 1.1%** | **Non-life Insurance — 1.1%** |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10568 | &nbsp;&nbsp;&nbsp;&nbsp; 820394 |
| &nbsp;&nbsp;&nbsp; Assured Guaranty Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 11837 | &nbsp;&nbsp;&nbsp;&nbsp; 1001173 |
| &nbsp;&nbsp;&nbsp; Axis Capital Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 10297 | &nbsp;&nbsp;&nbsp;&nbsp; 966270 |
| &nbsp;&nbsp;&nbsp; Everest Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 984 | &nbsp;&nbsp;&nbsp;&nbsp; 330427 |
| &nbsp;&nbsp;&nbsp; First American Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 14994 | &nbsp;&nbsp;&nbsp;&nbsp; 900390 |
| &nbsp;&nbsp;&nbsp; Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 30815 | &nbsp;&nbsp;&nbsp;&nbsp; 1114579 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2359 | &nbsp;&nbsp;&nbsp;&nbsp; 453990 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5587223 |
| **Non-Renewable Energy — 3.1%** | **Non-Renewable Energy — 3.1%** | **Non-Renewable Energy — 3.1%** |
| &nbsp;&nbsp;&nbsp; APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 34111 | &nbsp;&nbsp;&nbsp;&nbsp; 658001 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 24026 | &nbsp;&nbsp;&nbsp;&nbsp; 3643303 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21873 | &nbsp;&nbsp;&nbsp;&nbsp; 664064 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 46884 | &nbsp;&nbsp;&nbsp;&nbsp; 1143501 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 19845 | &nbsp;&nbsp;&nbsp;&nbsp; 659251 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2764 | &nbsp;&nbsp;&nbsp;&nbsp; 410896 |
| &nbsp;&nbsp;&nbsp; HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 21148 | &nbsp;&nbsp;&nbsp;&nbsp; 929243 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 68348 | &nbsp;&nbsp;&nbsp;&nbsp; 1917845 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11162 | &nbsp;&nbsp;&nbsp;&nbsp; 1899661 |
| &nbsp;&nbsp;&nbsp; Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24677 | &nbsp;&nbsp;&nbsp;&nbsp; 1016199 |
| &nbsp;&nbsp;&nbsp; Permian Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 46571 | &nbsp;&nbsp;&nbsp;&nbsp; 659445 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp; 11742 | &nbsp;&nbsp;&nbsp;&nbsp; 1451076 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9209 | &nbsp;&nbsp;&nbsp;&nbsp; 1264488 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16316973 |
| **Personal Care, Drug & Grocery Stores — 0.9%** | **Personal Care, Drug & Grocery Stores — 0.9%** | **Personal Care, Drug & Grocery Stores — 0.9%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 48996 | &nbsp;&nbsp;&nbsp;&nbsp; 941703 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 35425 | &nbsp;&nbsp;&nbsp;&nbsp; 2199892 |
| &nbsp;&nbsp;&nbsp; Kroger Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 25297 | &nbsp;&nbsp;&nbsp;&nbsp; 1773320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4914915 |
| **Personal Goods — 1.4%** | **Personal Goods — 1.4%** | **Personal Goods — 1.4%** |
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp;&nbsp; 8693 | &nbsp;&nbsp;&nbsp;&nbsp; 491763 |
| &nbsp;&nbsp;&nbsp; Crocs, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5926 | &nbsp;&nbsp;&nbsp;&nbsp; 591000 |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. (The), Class A | &nbsp;&nbsp;&nbsp;&nbsp; 10836 | &nbsp;&nbsp;&nbsp;&nbsp; 1011432 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Personal Goods — continued** | **Personal Goods — continued** | **Personal Goods — continued** |
| &nbsp;&nbsp;&nbsp; NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 25729 | &nbsp;&nbsp;&nbsp;&nbsp; 1921699 |
| &nbsp;&nbsp;&nbsp; PVH Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 11409 | &nbsp;&nbsp;&nbsp;&nbsp; 837649 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 4441 | &nbsp;&nbsp;&nbsp;&nbsp; 1326749 |
| &nbsp;&nbsp;&nbsp; Skechers U.S.A., Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 9747 | &nbsp;&nbsp;&nbsp;&nbsp; 616498 |
| &nbsp;&nbsp;&nbsp; VF Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 47952 | &nbsp;&nbsp;&nbsp;&nbsp; 561997 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7358787 |
| **Pharmaceuticals, Biotechnology & Marijuana Producers — 5.0%** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 5.0%** | **Pharmaceuticals, Biotechnology & Marijuana Producers — 5.0%** |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10800 | &nbsp;&nbsp;&nbsp;&nbsp; 3187080 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3387 | &nbsp;&nbsp;&nbsp;&nbsp; 433536 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp; 43153 | &nbsp;&nbsp;&nbsp;&nbsp; 1868956 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 28486 | &nbsp;&nbsp;&nbsp;&nbsp; 3198693 |
| &nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 5567 | &nbsp;&nbsp;&nbsp;&nbsp; 638145 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp; 42229 | &nbsp;&nbsp;&nbsp;&nbsp; 6956805 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 43192 | &nbsp;&nbsp;&nbsp;&nbsp; 3374159 |
| &nbsp;&nbsp;&nbsp; Organon & Co. | &nbsp;&nbsp;&nbsp;&nbsp; 33897 | &nbsp;&nbsp;&nbsp;&nbsp; 328801 |
| &nbsp;&nbsp;&nbsp; Perrigo Co. plc | &nbsp;&nbsp;&nbsp;&nbsp; 21895 | &nbsp;&nbsp;&nbsp;&nbsp; 583940 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 123396 | &nbsp;&nbsp;&nbsp;&nbsp; 2873893 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma plc, Class A | &nbsp;&nbsp;&nbsp;&nbsp; 22630 | &nbsp;&nbsp;&nbsp;&nbsp; 832784 |
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 3791 | &nbsp;&nbsp;&nbsp;&nbsp; 1041388 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 94261 | &nbsp;&nbsp;&nbsp;&nbsp; 823841 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 26142021 |
| **Real Estate Investment Trusts — 2.3%** | **Real Estate Investment Trusts — 2.3%** | **Real Estate Investment Trusts — 2.3%** |
| &nbsp;&nbsp;&nbsp; Cousins Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6411 | &nbsp;&nbsp;&nbsp;&nbsp; 173738 |
| &nbsp;&nbsp;&nbsp; EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp; 18725 | &nbsp;&nbsp;&nbsp;&nbsp; 1030624 |
| &nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13835 | &nbsp;&nbsp;&nbsp;&nbsp; 630599 |
| &nbsp;&nbsp;&nbsp; Highwoods Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 30709 | &nbsp;&nbsp;&nbsp;&nbsp; 890868 |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 42845 | &nbsp;&nbsp;&nbsp;&nbsp; 673524 |
| &nbsp;&nbsp;&nbsp; Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 19114 | &nbsp;&nbsp;&nbsp;&nbsp; 704542 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 51034 | &nbsp;&nbsp;&nbsp;&nbsp; 1083452 |
| &nbsp;&nbsp;&nbsp; Medical Properties Trust, Inc. (a) | &nbsp;&nbsp;&nbsp;&nbsp; 114410 | &nbsp;&nbsp;&nbsp;&nbsp; 471369 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12916 | &nbsp;&nbsp;&nbsp;&nbsp; 532914 |
| &nbsp;&nbsp;&nbsp; Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 29330 | &nbsp;&nbsp;&nbsp;&nbsp; 1140937 |
| &nbsp;&nbsp;&nbsp; Park Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 59615 | &nbsp;&nbsp;&nbsp;&nbsp; 635496 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 2133 | &nbsp;&nbsp;&nbsp;&nbsp; 152296 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 10646 | &nbsp;&nbsp;&nbsp;&nbsp; 1743708 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 46991 | &nbsp;&nbsp;&nbsp;&nbsp; 1531907 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 11543 | &nbsp;&nbsp;&nbsp;&nbsp; 740599 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12136573 |
| **Retailers — 3.8%** | **Retailers — 3.8%** | **Retailers — 3.8%** |
| &nbsp;&nbsp;&nbsp; AutoNation, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5259 | &nbsp;&nbsp;&nbsp;&nbsp; 1013094 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24873 | &nbsp;&nbsp;&nbsp;&nbsp; 720322 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14792 | &nbsp;&nbsp;&nbsp;&nbsp; 962367 |
| &nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5659 | &nbsp;&nbsp;&nbsp;&nbsp; 1196935 |
| &nbsp;&nbsp;&nbsp; Dillard's, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 1476 | &nbsp;&nbsp;&nbsp;&nbsp; 689189 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7780 | &nbsp;&nbsp;&nbsp;&nbsp; 816122 |
| &nbsp;&nbsp;&nbsp; Gap, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 42742 | &nbsp;&nbsp;&nbsp;&nbsp; 831759 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Retailers — continued** | **Retailers — continued** | **Retailers — continued** |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp;&nbsp; 11405 | &nbsp;&nbsp;&nbsp;&nbsp; 4191452 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 3473 | &nbsp;&nbsp;&nbsp;&nbsp; 1000224 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6826 | &nbsp;&nbsp;&nbsp;&nbsp; 1526089 |
| &nbsp;&nbsp;&nbsp; Macy's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 66882 | &nbsp;&nbsp;&nbsp;&nbsp; 844720 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 1808 | &nbsp;&nbsp;&nbsp;&nbsp; 655364 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5963 | &nbsp;&nbsp;&nbsp;&nbsp; 998266 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16139 | &nbsp;&nbsp;&nbsp;&nbsp; 1743496 |
| &nbsp;&nbsp;&nbsp; Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 12421 | &nbsp;&nbsp;&nbsp;&nbsp; 1248310 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7870 | &nbsp;&nbsp;&nbsp;&nbsp; 1472083 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19909792 |
| **Software & Computer Services — 20.4%** | **Software & Computer Services — 20.4%** | **Software & Computer Services — 20.4%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8586 | &nbsp;&nbsp;&nbsp;&nbsp; 3071126 |
| &nbsp;&nbsp;&nbsp; Akamai Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15187 | &nbsp;&nbsp;&nbsp;&nbsp; 1158920 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 56974 | &nbsp;&nbsp;&nbsp;&nbsp; 10933311 |
| &nbsp;&nbsp;&nbsp; Amdocs Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 12563 | &nbsp;&nbsp;&nbsp;&nbsp; 1072378 |
| &nbsp;&nbsp;&nbsp; Bentley Systems, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp; 13831 | &nbsp;&nbsp;&nbsp;&nbsp; 801921 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 2550 | &nbsp;&nbsp;&nbsp;&nbsp; 1174454 |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 63978 | &nbsp;&nbsp;&nbsp;&nbsp; 618667 |
| &nbsp;&nbsp;&nbsp; Clarivate plc \* | &nbsp;&nbsp;&nbsp;&nbsp; 211054 | &nbsp;&nbsp;&nbsp;&nbsp; 812558 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 20663 | &nbsp;&nbsp;&nbsp;&nbsp; 1482777 |
| &nbsp;&nbsp;&nbsp; Concentrix Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 18639 | &nbsp;&nbsp;&nbsp;&nbsp; 968669 |
| &nbsp;&nbsp;&nbsp; Docusign, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 16634 | &nbsp;&nbsp;&nbsp;&nbsp; 1258196 |
| &nbsp;&nbsp;&nbsp; Dolby Laboratories, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 13246 | &nbsp;&nbsp;&nbsp;&nbsp; 997954 |
| &nbsp;&nbsp;&nbsp; DoubleVerify Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 63300 | &nbsp;&nbsp;&nbsp;&nbsp; 969756 |
| &nbsp;&nbsp;&nbsp; Dropbox, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 38814 | &nbsp;&nbsp;&nbsp;&nbsp; 1054576 |
| &nbsp;&nbsp;&nbsp; Dun & Bradstreet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 114551 | &nbsp;&nbsp;&nbsp;&nbsp; 1042414 |
| &nbsp;&nbsp;&nbsp; DXC Technology Co. \* | &nbsp;&nbsp;&nbsp;&nbsp; 51302 | &nbsp;&nbsp;&nbsp;&nbsp; 698220 |
| &nbsp;&nbsp;&nbsp; Dynatrace, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15186 | &nbsp;&nbsp;&nbsp;&nbsp; 798936 |
| &nbsp;&nbsp;&nbsp; EPAM Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 6689 | &nbsp;&nbsp;&nbsp;&nbsp; 1054922 |
| &nbsp;&nbsp;&nbsp; F5, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 4390 | &nbsp;&nbsp;&nbsp;&nbsp; 1375914 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 2338 | &nbsp;&nbsp;&nbsp;&nbsp; 791764 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 42177 | &nbsp;&nbsp;&nbsp;&nbsp; 1243800 |
| &nbsp;&nbsp;&nbsp; Globant SA \* | &nbsp;&nbsp;&nbsp;&nbsp; 11233 | &nbsp;&nbsp;&nbsp;&nbsp; 946493 |
| &nbsp;&nbsp;&nbsp; GoDaddy, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 7867 | &nbsp;&nbsp;&nbsp;&nbsp; 1271150 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp; 77405 | &nbsp;&nbsp;&nbsp;&nbsp; 1601509 |
| &nbsp;&nbsp;&nbsp; IAC, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 24888 | &nbsp;&nbsp;&nbsp;&nbsp; 978098 |
| &nbsp;&nbsp;&nbsp; Informatica, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 42813 | &nbsp;&nbsp;&nbsp;&nbsp; 1057481 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 18768 | &nbsp;&nbsp;&nbsp;&nbsp; 4751119 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 5780 | &nbsp;&nbsp;&nbsp;&nbsp; 4538051 |
| &nbsp;&nbsp;&nbsp; KBR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20612 | &nbsp;&nbsp;&nbsp;&nbsp; 963405 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 13523 | &nbsp;&nbsp;&nbsp;&nbsp; 510764 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 8711 | &nbsp;&nbsp;&nbsp;&nbsp; 1390711 |
| &nbsp;&nbsp;&nbsp; Maplebear, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 25634 | &nbsp;&nbsp;&nbsp;&nbsp; 1229663 |
| &nbsp;&nbsp;&nbsp; Match Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 36763 | &nbsp;&nbsp;&nbsp;&nbsp; 1259868 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 14574 | &nbsp;&nbsp;&nbsp;&nbsp; 11272115 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 20951 | &nbsp;&nbsp;&nbsp;&nbsp; 11177359 |
| &nbsp;&nbsp;&nbsp; Okta, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 7532 | &nbsp;&nbsp;&nbsp;&nbsp; 736630 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Common Stocks — continued** | **Common Stocks — continued** | **Common Stocks — continued** |
| **Software & Computer Services — continued** | **Software & Computer Services — continued** | **Software & Computer Services — continued** |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 27055 | &nbsp;&nbsp;&nbsp;&nbsp; 6865747 |
| &nbsp;&nbsp;&nbsp; Parsons Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 15057 | &nbsp;&nbsp;&nbsp;&nbsp; 1117229 |
| &nbsp;&nbsp;&nbsp; Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4876 | &nbsp;&nbsp;&nbsp;&nbsp; 1128989 |
| &nbsp;&nbsp;&nbsp; Pegasystems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21452 | &nbsp;&nbsp;&nbsp;&nbsp; 1259447 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 39065 | &nbsp;&nbsp;&nbsp;&nbsp; 1507909 |
| &nbsp;&nbsp;&nbsp; PTC, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5030 | &nbsp;&nbsp;&nbsp;&nbsp; 1080494 |
| &nbsp;&nbsp;&nbsp; Reddit, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 5926 | &nbsp;&nbsp;&nbsp;&nbsp; 951656 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3513 | &nbsp;&nbsp;&nbsp;&nbsp; 1933555 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19086 | &nbsp;&nbsp;&nbsp;&nbsp; 4930486 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 10156 | &nbsp;&nbsp;&nbsp;&nbsp; 1132191 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15946 | &nbsp;&nbsp;&nbsp;&nbsp; 1363064 |
| &nbsp;&nbsp;&nbsp; Teradata Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 36081 | &nbsp;&nbsp;&nbsp;&nbsp; 755175 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 11031 | &nbsp;&nbsp;&nbsp;&nbsp; 1422999 |
| &nbsp;&nbsp;&nbsp; UiPath, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 46940 | &nbsp;&nbsp;&nbsp;&nbsp; 551545 |
| &nbsp;&nbsp;&nbsp; VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2960 | &nbsp;&nbsp;&nbsp;&nbsp; 795855 |
| &nbsp;&nbsp;&nbsp; Zoom Communications, Inc., Class A \* | &nbsp;&nbsp;&nbsp;&nbsp; 17190 | &nbsp;&nbsp;&nbsp;&nbsp; 1272920 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 107323 | &nbsp;&nbsp;&nbsp;&nbsp; 1162308 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 106297218 |
| **Technology Hardware & Equipment — 15.9%** | **Technology Hardware & Equipment — 15.9%** | **Technology Hardware & Equipment — 15.9%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 5190 | &nbsp;&nbsp;&nbsp;&nbsp; 915049 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 49619 | &nbsp;&nbsp;&nbsp;&nbsp; 1119405 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 30525 | &nbsp;&nbsp;&nbsp;&nbsp; 3251218 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 12567 | &nbsp;&nbsp;&nbsp;&nbsp; 2822925 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44349 | &nbsp;&nbsp;&nbsp;&nbsp; 9205522 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19124 | &nbsp;&nbsp;&nbsp;&nbsp; 3443467 |
| &nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8954 | &nbsp;&nbsp;&nbsp;&nbsp; 1038664 |
| &nbsp;&nbsp;&nbsp; Avnet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 21341 | &nbsp;&nbsp;&nbsp;&nbsp; 1129793 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 22510 | &nbsp;&nbsp;&nbsp;&nbsp; 6611187 |
| &nbsp;&nbsp;&nbsp; CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7948 | &nbsp;&nbsp;&nbsp;&nbsp; 1385972 |
| &nbsp;&nbsp;&nbsp; Cirrus Logic, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 10677 | &nbsp;&nbsp;&nbsp;&nbsp; 1075281 |
| &nbsp;&nbsp;&nbsp; Coherent Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 8684 | &nbsp;&nbsp;&nbsp;&nbsp; 934398 |
| &nbsp;&nbsp;&nbsp; Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 33089 | &nbsp;&nbsp;&nbsp;&nbsp; 2092548 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp; 14398 | &nbsp;&nbsp;&nbsp;&nbsp; 1910471 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 15579 | &nbsp;&nbsp;&nbsp;&nbsp; 1222328 |
| &nbsp;&nbsp;&nbsp; Flex Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp; 29152 | &nbsp;&nbsp;&nbsp;&nbsp; 1453810 |
| &nbsp;&nbsp;&nbsp; GLOBALFOUNDRIES, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 23901 | &nbsp;&nbsp;&nbsp;&nbsp; 893658 |
| &nbsp;&nbsp;&nbsp; HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 56858 | &nbsp;&nbsp;&nbsp;&nbsp; 1410078 |
| &nbsp;&nbsp;&nbsp; Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 121209 | &nbsp;&nbsp;&nbsp;&nbsp; 2399938 |
| &nbsp;&nbsp;&nbsp; IPG Photonics Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 9163 | &nbsp;&nbsp;&nbsp;&nbsp; 686217 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7346 | &nbsp;&nbsp;&nbsp;&nbsp; 1639407 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 3280 | &nbsp;&nbsp;&nbsp;&nbsp; 2883218 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 32083 | &nbsp;&nbsp;&nbsp;&nbsp; 3042752 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 20237 | &nbsp;&nbsp;&nbsp;&nbsp; 1626448 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 23083 | &nbsp;&nbsp;&nbsp;&nbsp; 1560180 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 26938 | &nbsp;&nbsp;&nbsp;&nbsp; 2940013 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 2224 | &nbsp;&nbsp;&nbsp;&nbsp; 1581798 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 13154 | &nbsp;&nbsp;&nbsp;&nbsp; 1369726 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

AS OF July 31, 2025 (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; ON Semiconductor Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 26257 | &nbsp;&nbsp;&nbsp;&nbsp; 1479844 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 11248 | &nbsp;&nbsp;&nbsp;&nbsp; 1065748 |
| &nbsp;&nbsp;&nbsp; Qorvo, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 13983 | &nbsp;&nbsp;&nbsp;&nbsp; 1168979 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24410 | &nbsp;&nbsp;&nbsp;&nbsp; 3582412 |
| &nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 16444 | &nbsp;&nbsp;&nbsp;&nbsp; 1127072 |
| &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc. \* (a) | &nbsp;&nbsp;&nbsp;&nbsp; 20530 | &nbsp;&nbsp;&nbsp;&nbsp; 1210654 |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 9307 | &nbsp;&nbsp;&nbsp;&nbsp; 1343838 |
| &nbsp;&nbsp;&nbsp; Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 14533 | &nbsp;&nbsp;&nbsp;&nbsp; 1561280 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 19886 | &nbsp;&nbsp;&nbsp;&nbsp; 3600559 |
| &nbsp;&nbsp;&nbsp; Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 7170 | &nbsp;&nbsp;&nbsp;&nbsp; 1035348 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 15293 | &nbsp;&nbsp;&nbsp;&nbsp; 2226661 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 23401 | &nbsp;&nbsp;&nbsp;&nbsp; 1841425 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 82889291 |
| **Telecommunications Equipment — 0.7%** | **Telecommunications Equipment — 0.7%** | **Telecommunications Equipment — 0.7%** |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 50082 | &nbsp;&nbsp;&nbsp;&nbsp; 3409583 |
| **Telecommunications Service Providers — 1.3%** | **Telecommunications Service Providers — 1.3%** | **Telecommunications Service Providers — 1.3%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 148054 | &nbsp;&nbsp;&nbsp;&nbsp; 4058160 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 54387 | &nbsp;&nbsp;&nbsp;&nbsp; 1807280 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 24927 | &nbsp;&nbsp;&nbsp;&nbsp; 1065879 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6931319 |
| **Tobacco — 0.5%** | **Tobacco — 0.5%** | **Tobacco — 0.5%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 44372 | &nbsp;&nbsp;&nbsp;&nbsp; 2748402 |
| **Travel & Leisure — 3.2%** | **Travel & Leisure — 3.2%** | **Travel & Leisure — 3.2%** |
| &nbsp;&nbsp;&nbsp; Alaska Air Group, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 12256 | &nbsp;&nbsp;&nbsp;&nbsp; 649078 |
| &nbsp;&nbsp;&nbsp; Aramark | &nbsp;&nbsp;&nbsp;&nbsp; 17937 | &nbsp;&nbsp;&nbsp;&nbsp; 763399 |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 13953 | &nbsp;&nbsp;&nbsp;&nbsp; 1184610 |
| &nbsp;&nbsp;&nbsp; Carnival Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp; 38185 | &nbsp;&nbsp;&nbsp;&nbsp; 1136767 |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6135 | &nbsp;&nbsp;&nbsp;&nbsp; 656690 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 6450 | &nbsp;&nbsp;&nbsp;&nbsp; 1300772 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 25543 | &nbsp;&nbsp;&nbsp;&nbsp; 1359143 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 4790 | &nbsp;&nbsp;&nbsp;&nbsp; 863254 |
| &nbsp;&nbsp;&nbsp; Hyatt Hotels Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp; 4391 | &nbsp;&nbsp;&nbsp;&nbsp; 618999 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp; 17046 | &nbsp;&nbsp;&nbsp;&nbsp; 893210 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International \* | &nbsp;&nbsp;&nbsp;&nbsp; 27780 | &nbsp;&nbsp;&nbsp;&nbsp; 1012581 |
| &nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp; 12178 | &nbsp;&nbsp;&nbsp;&nbsp; 826399 |
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp; 19175 | &nbsp;&nbsp;&nbsp;&nbsp; 1136119 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 18917 | &nbsp;&nbsp;&nbsp;&nbsp; 1670560 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 3805 | &nbsp;&nbsp;&nbsp;&nbsp; 571739 |
| &nbsp;&nbsp;&nbsp; Wendy's Co. (The) (a) | &nbsp;&nbsp;&nbsp;&nbsp; 46728 | &nbsp;&nbsp;&nbsp;&nbsp; 460271 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 7387 | &nbsp;&nbsp;&nbsp;&nbsp; 635282 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; 7753 | &nbsp;&nbsp;&nbsp;&nbsp; 845310 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16584183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks <br>(Cost $498,635,542)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 520398393 |

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| **INVESTMENTS** | **SHARES** | **VALUE ($)** |
| **Short-Term Investments — 1.0%** | **Short-Term Investments — 1.0%** | **Short-Term Investments — 1.0%** |
| **Investment Companies — 0.1%** | **Investment Companies — 0.1%** | **Investment Companies — 0.1%** |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.26% (b) (c)(Cost $439,224) | &nbsp;&nbsp;&nbsp;&nbsp; 439224 | &nbsp;&nbsp;&nbsp;&nbsp; 439224 |
| **Investment of Cash Collateral from Securities Loaned — 0.9%** | **Investment of Cash Collateral from Securities Loaned — 0.9%** | **Investment of Cash Collateral from Securities Loaned — 0.9%** |
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 4.37% (b) (c)(Cost $4,984,439) | &nbsp;&nbsp;&nbsp;&nbsp; 4984440 | &nbsp;&nbsp;&nbsp;&nbsp; 4984440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Short-Term Investments <br>(Cost $5,423,663)<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; 5423664 |
| **Total Investments — 100.8%** <br>**(Cost $504,059,205)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **525822057** |
| **Liabilities in Excess of Other Assets — (0.8)%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(4348663)**<br>|
| **NET ASSETS — 100.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp; **521473394** |

---

&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;

\* Non-income producing security. 

(a) The security or a portion of this security is on loan at July 31, 2025. The total value of securities on loan at July 31, 2025 is $4,728,098.

(b) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. 

(c) The rate shown is the current yield as of July 31, 2025.

**Futures contracts outstanding as of July 31, 2025:**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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** |  |  |  |  |  |
| S&P 500 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 637150 | &nbsp;&nbsp;&nbsp;&nbsp; 33889 |

---

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

---

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

---

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

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

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

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

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

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

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.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Level 1** <br>Quoted prices<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 2** <br>Other significant <br>observable inputs<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Level 3** <br>Significant <br>unobservable inputs<br>| **Total** |
| **Total Investments in Securities** (a) | &nbsp;&nbsp;&nbsp;&nbsp; $525822057 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $525822057 |
| **Appreciation in Other Financial Instruments** |  |  |  |  |
| Futures Contracts (a) | &nbsp;&nbsp;&nbsp;&nbsp; $33889 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $33889 |

---

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

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

**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.

------

**JPMorgan U.S. Value Factor ETF**

**SCHEDULE OF PORTFOLIO INVESTMENTS**

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

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 July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** | **For the period ended July 31, 2025** |
| **Security Description** | **Value at** <br>**October 31,** <br>**2024**<br>| **Purchases at** <br>**Cost**<br>| **Proceeds from** <br>**Sales**<br>| **Net Realized** <br>**Gain (Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value at** <br>**July 31,** <br>**2025**<br>| **Shares at** <br>**July 31,** <br>**2025**<br>| **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Securities Lending Money <br> Market Fund Agency SL Class Shares, <br> 4.37% (a) (b)<br>| $5014297 | $58861254 | $58891111 | $— | $— | $4984440 | 4984440 | $188869 | $— |
| &nbsp;&nbsp;&nbsp; JPMorgan U.S. Government Money <br> Market Fund Class IM Shares, 4.26% <br> (a) (b)<br>| 407337 | 22956293 | 22924406 |  |  | 439224 | 439224 | 34723 |  |
| **Total** | $5421634 | $81817547 | $81815517 | $— | $— | $5423664 |  | $223592 | $— |

---

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

 <br> (a) Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. <br> (b) The rate shown is the current yield as of July 31, 2025.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10172

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

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

- **a. Name of Series:** JPMorgan U.S. Value Factor ETF

- **b. EDGAR series identifier (if any):** S000059314

- **c. LEI of Series:** 549300HRHRZ4Q1FYHW79

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $528749205.11

**Total Liabilities:** $5037734.91

**Net Assets:** $523711470.20

**Cash Not Reported:** $7158.92

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000194673 | 5.38%                | 5.59%                | 1.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $138938.46               | $25655730.18                               |
| Month 2  | $1974991.46              | $24879304.08                               |
| Month 3  | $242483.64               | $5451660.61                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Host Hotels & Resorts, Inc.                   | Host Hotels & Resorts, Inc.                                           | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     43029 | NS      | $676415.88    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs, Inc.                                   | Crocs, Inc.                                                           | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      5951 | NS      | $593493.23    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                  | Oracle Corp.                                                          | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     27171 | NS      | $6895184.67   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co. (The)                         | Kraft Heinz Co. (The)                                                 | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     48265 | NS      | $1325356.90   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris, Inc.                                | Entegris, Inc.                                                        | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     15646 | NS      | $1227585.16   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group, Inc.                             | Match Group, Inc.                                                     | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     36921 | NS      | $1265282.67   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial                           | Synchrony Financial                                                   | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     22825 | NS      | $1590217.75   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                            | Lam Research Corp.                                                    | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     32221 | NS      | $3055839.64   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Dolby Laboratories, Inc.                      | Dolby Laboratories, Inc., Class A                                     | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     13303 | NS      | $1002248.02   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co.                    | Archer-Daniels-Midland Co.                                            | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     26811 | NS      | $1452619.98   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp.                                    | Pool Corp.                                                            | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      1945 | NS      | $599332.30    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp.                       | Louisiana-Pacific Corp.                                               | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      6574 | NS      | $594355.34    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                                | Alphabet, Inc., Class A                                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     57218 | NS      | $10980134.20  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp.                     | United Therapeutics Corp.                                             | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      3807 | NS      | $1045782.90   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA                              | Zions Bancorp NA                                                      | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     18303 | NS      | $981406.86    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion, Inc.                               | Ingredion, Inc.                                                       | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |      7519 | NS      | $989049.26    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.                           | Valero Energy Corp.                                                   | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      9248 | NS      | $1269842.88   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH plc                                       | CRH plc                                                               | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |     17578 | NS      | $1677820.10   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp.                              | OGE Energy Corp.                                                      | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     25723 | NS      | $1168338.66   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology, Inc.                    | Microchip Technology, Inc.                                            | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     23182 | NS      | $1566871.38   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp.                                | Amphenol Corp., Class A                                               | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     30656 | NS      | $3265170.56   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp.                       | Permian Resources Corp.                                               | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     46771 | NS      | $662277.36    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyndryl Holdings, Inc.                        | Kyndryl Holdings, Inc.                                                | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |     13581 | NS      | $512954.37    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares, Inc.                   | Huntington Bancshares, Inc.                                           | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     87713 | NS      | $1441124.59   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp.                                  | Gentex Corp.                                                          | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     30437 | NS      | $804145.54    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv, Inc.                                 | Ovintiv, Inc.                                                         | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     24783 | NS      | $1020563.94   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                | EPR Properties                                                        | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     18805 | NS      | $1035027.20   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods, Inc.                           | Flowers Foods, Inc.                                                   | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |     33931 | NS      | $537806.35    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Jabil, Inc.                                   | Jabil, Inc.                                                           | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |      7377 | NS      | $1646325.09   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric plc                            | nVent Electric plc                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      9734 | NS      | $763340.28    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR, Inc.                                     | NVR, Inc.                                                             | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       114 | NS      | $860641.86    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                                     | KLA Corp.                                                             | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      3294 | NS      | $2895524.82   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals plc                      | Jazz Pharmaceuticals plc                                              | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |      5591 | NS      | $640896.33    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co.                      | Bristol-Myers Squibb Co.                                              | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     43338 | NS      | $1876968.78   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital, Inc.                             | Gen Digital, Inc.                                                     | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     42358 | NS      | $1249137.42   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson, Inc.                         | Harley-Davidson, Inc.                                                 | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     28860 | NS      | $702163.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| J M Smucker Co. (The)                         | J M Smucker Co. (The)                                                 | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |      7438 | NS      | $798394.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins, Inc.                                 | Cummins, Inc.                                                         | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      5427 | NS      | $1995073.74   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp.                                   | Intel Corp.                                                           | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    121729 | NS      | $2410234.20   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit, Inc.                                  | Intuit, Inc.                                                          | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      5805 | NS      | $4557679.65   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                                 | Owens Corning                                                         | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      7154 | NS      | $997482.22    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.         | International Business Machines Corp.                                 | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     18848 | NS      | $4771371.20   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                      | Bank OZK                                                              | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     16097 | NS      | $793582.10    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen, Inc.                                  | Biogen, Inc.                                                          | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      3401 | NS      | $435328.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                   | Phillips 66                                                           | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     11792 | NS      | $1457255.36   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey, Inc.                                | WP Carey, Inc.                                                        | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |     11592 | NS      | $743742.72    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT Co.                                 | Crane NXT Co.                                                         | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |     13036 | NS      | $773556.24    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd.                            | Everest Group Ltd.                                                    | CUSIP: N/A<br>LEI: 549300N24XF2VV0B3570       | Long             | EC               | CORP              | BM        |       988 | NS      | $331770.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                   | Apple, Inc.                                                           | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     44539 | NS      | $9244960.23   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest, Inc.                               | Pinterest, Inc., Class A                                              | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39233 | NS      | $1514393.80   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma plc                            | Royalty Pharma plc, Class A                                           | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |     22727 | NS      | $836353.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp.                            | Devon Energy Corp.                                                    | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     19930 | NS      | $662074.60    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.           | Gaming and Leisure Properties, Inc.                                   | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     13894 | NS      | $633288.52    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers, Inc.                           | Toll Brothers, Inc.                                                   | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      8564 | NS      | $1013635.04   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp.                                     | Fox Corp., Class A                                                    | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     22089 | NS      | $1231682.64   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox, Inc.                                 | Dropbox, Inc., Class A                                                | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     38981 | NS      | $1059113.77   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner, Inc.                                 | Gartner, Inc.                                                         | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |      2348 | NS      | $795150.20    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust, Inc.                 | Starwood Property Trust, Inc.                                         | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |     46475 | NS      | $904403.50    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos., Inc.                         | Albertsons Cos., Inc., Class A                                        | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |     49206 | NS      | $945739.32    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp.                                     | UGI Corp.                                                             | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     30982 | NS      | $1120928.76   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on, Inc.                                 | Snap-on, Inc.                                                         | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      3956 | NS      | $1270627.64   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co. (The)                              | Kroger Co. (The)                                                      | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     25406 | NS      | $1780960.60   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                          | Edison International                                                  | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     26800 | NS      | $1396816.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp.                         | MGIC Investment Corp.                                                 | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     40848 | NS      | $1057963.20   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                             | Johnson & Johnson                                                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     42410 | NS      | $6986623.40   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                             | Merck & Co., Inc.                                                     | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     43377 | NS      | $3388611.24   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                                    | AT&T, Inc.                                                            | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    148689 | NS      | $4075565.49   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Hormel Foods Corp.                            | Hormel Foods Corp.                                                    | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |     21880 | NS      | $614609.20    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer, Inc.                                  | Pfizer, Inc.                                                          | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    123926 | NS      | $2886236.54   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial, Inc.                          | Ally Financial, Inc.                                                  | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |     31792 | NS      | $1203327.20   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair plc                                   | Pentair plc                                                           | CUSIP: N/A<br>LEI: 549300EVR9D56WPSRP15       | Long             | EC               | CORP              | IE        |     12962 | NS      | $1324716.40   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp.                         | Las Vegas Sands Corp.                                                 | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     17119 | NS      | $897035.60    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex, Inc.                                | Teleflex, Inc.                                                        | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |      1935 | NS      | $231232.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| IPG Photonics Corp.                           | IPG Photonics Corp.                                                   | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |      9202 | NS      | $689137.78    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp.                       | Regions Financial Corp.                                               | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |     58784 | NS      | $1488998.72   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                           | S&P 500 E-Mini Index                                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         2 | NC      | $33889.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Assured Guaranty Ltd.                         | Assured Guaranty Ltd.                                                 | CUSIP: N/A<br>LEI: 549300BBOQUJEPH87M14       | Long             | EC               | CORP              | BM        |     11888 | NS      | $1005487.04   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co.                        | Becton Dickinson & Co.                                                | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      1378 | NS      | $245628.50    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp.                                   | Nucor Corp.                                                           | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |     10487 | NS      | $1500375.09   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                    | Prudential Financial, Inc.                                            | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |     15097 | NS      | $1563747.26   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp.                                     | LKQ Corp.                                                             | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     22846 | NS      | $673271.62    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                   | United Parcel Service, Inc., Class B                                  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     15945 | NS      | $1373821.20   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co.                             | Genuine Parts Co.                                                     | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |      8508 | NS      | $1096511.04   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology, Inc.                      | Marvell Technology, Inc.                                              | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20324 | NS      | $1633439.88   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group, Inc.                    | Simon Property Group, Inc.                                            | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     10692 | NS      | $1751242.68   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co.                | Hewlett Packard Enterprise Co.                                        | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     77737 | NS      | $1608378.53   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors, Inc.              | Omega Healthcare Investors, Inc.                                      | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     29456 | NS      | $1145838.40   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                       | Aramark                                                               | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |     18014 | NS      | $766675.84    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International plc            | Johnson Controls International plc                                    | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | IE        |     20748 | NS      | $2178540.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne, Inc.                                | Teradyne, Inc.                                                        | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     14595 | NS      | $1567940.85   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Pegasystems, Inc.                             | Pegasystems, Inc.                                                     | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |     21544 | NS      | $1264848.24   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp.                             | HF Sinclair Corp.                                                     | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     21239 | NS      | $933241.66    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC, Inc.                                     | PTC, Inc.                                                             | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |      5052 | NS      | $1085220.12   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group, Inc.                     | Nexstar Media Group, Inc.                                             | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      6322 | NS      | $1182909.42   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery, Inc.                   | Warner Bros Discovery, Inc.                                           | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     91238 | NS      | $1201604.46   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot, Inc. (The)                        | Home Depot, Inc. (The)                                                | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     11454 | NS      | $4209459.54   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                           | General Mills, Inc.                                                   | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     25704 | NS      | $1258981.92   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp.                                 | Parsons Corp.                                                         | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     15122 | NS      | $1122052.40   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Comerica, Inc.                                | Comerica, Inc.                                                        | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |     20021 | NS      | $1352818.97   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| IAC, Inc.                                     | IAC, Inc.                                                             | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Long             | EC               | CORP              | US        |     24995 | NS      | $982303.50    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems, Inc.                            | EPAM Systems, Inc.                                                    | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |      6718 | NS      | $1059495.78   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular, Inc.                                 | Popular, Inc.                                                         | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     10684 | NS      | $1224172.72   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp.                                | Coherent Corp.                                                        | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      8721 | NS      | $938379.60    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear, Inc.                               | Maplebear, Inc.                                                       | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25744 | NS      | $1234939.68   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions, Inc.                      | Skyworks Solutions, Inc.                                              | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |     16515 | NS      | $1131938.10   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBALFOUNDRIES, Inc.                         | GLOBALFOUNDRIES, Inc.                                                 | CUSIP: N/A<br>LEI: 549300BA76VK784VMX48       | Long             | EC               | CORP              | KY        |     24004 | NS      | $897509.56    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp.                        | Lincoln National Corp.                                                | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     17361 | NS      | $661627.71    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign, Inc.                                | VeriSign, Inc.                                                        | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |      2973 | NS      | $799350.51    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Corp.              | Old Republic International Corp.                                      | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     30947 | NS      | $1119352.99   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)      | PNC Financial Services Group, Inc. (The)                              | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      3533 | NS      | $672223.91    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd.                                  | Genpact Ltd.                                                          | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | BM        |     16588 | NS      | $730701.40    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp.                           | Rithm Capital Corp.                                                   | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |     92567 | NS      | $1113581.01   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe, Inc.                                   | Adobe, Inc.                                                           | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      8623 | NS      | $3084360.87   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity, Inc.                                  | Acuity, Inc.                                                          | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3212 | NS      | $1000056.20   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp.                         | Regency Centers Corp.                                                 | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |      2142 | NS      | $152938.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp.                         | Pilgrim's Pride Corp.                                                 | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |     11397 | NS      | $540103.83    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                            | Altria Group, Inc.                                                    | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     44562 | NS      | $2760170.28   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity, Inc.                                 | Revvity, Inc.                                                         | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |      5633 | NS      | $495140.70    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology, Inc.                        | Amkor Technology, Inc.                                                | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     49832 | NS      | $1124209.92   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co.                           | Vertiv Holdings Co., Class A                                          | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     15359 | NS      | $2236270.40   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ZoomInfo Technologies, Inc.                   | ZoomInfo Technologies, Inc.                                           | CUSIP: 98980F104<br>LEI: 2549008GSAHW4UWFEM58 | Long             | EC               | CORP              | US        |    107784 | NS      | $1167300.72   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp.                        | General Dynamics Corp.                                                | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      6131 | NS      | $1910480.91   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp.                          | Dollar General Corp.                                                  | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      7813 | NS      | $819583.70    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp.                            | Ralph Lauren Corp.                                                    | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      4460 | NS      | $1332425.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services, Inc.               | Universal Health Services, Inc., Class B                              | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |      6191 | NS      | $1030491.95   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource, Inc.                    | Builders FirstSource, Inc.                                            | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      7681 | NS      | $976485.53    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp.                       | Universal Display Corp.                                               | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7201 | NS      | $1039824.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd.                    | Axis Capital Holdings Ltd.                                            | CUSIP: N/A<br>LEI: 635400VD2NQBYAHMEM55       | Long             | EC               | CORP              | BM        |     10341 | NS      | $970399.44    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison, Inc.                     | Consolidated Edison, Inc.                                             | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     15627 | NS      | $1617394.50   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands, Inc.                           | Newell Brands, Inc.                                                   | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |     64774 | NS      | $363382.14    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Informatica, Inc.                             | Informatica, Inc., Class A                                            | CUSIP: 45674M101<br>LEI: 984500E0DEFFE6DE9588 | Long             | EC               | CORP              | US        |     42997 | NS      | $1062025.90   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp.                            | Kimco Realty Corp.                                                    | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     51253 | NS      | $1088101.19   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corp.                                | Celanese Corp.                                                        | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Long             | EC               | CORP              | US        |      7012 | NS      | $366236.76    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management, Inc.               | Annaly Capital Management, Inc.                                       | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     45782 | NS      | $930748.06    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                  | Mattel, Inc.                                                          | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     31253 | NS      | $531613.53    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy, Inc.                      | Diamondback Energy, Inc.                                              | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      2776 | NS      | $412680.16    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                               | Citigroup, Inc.                                                       | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     43500 | NS      | $4075950.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp.                               | Brunswick Corp.                                                       | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     12880 | NS      | $750775.20    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties, Inc.                      | Cousins Properties, Inc.                                              | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |      6438 | NS      | $174469.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System, Inc.                            | Ryder System, Inc.                                                    | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |      7524 | NS      | $1337090.04   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                  | LyondellBasell Industries NV, Class A                                 | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | NL        |     16602 | NS      | $961753.86    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp.                                    | News Corp., Class A                                                   | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |     42759 | NS      | $1253693.88   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma, Inc.                         | Williams-Sonoma, Inc.                                                 | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      7904 | NS      | $1478443.20   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp.                               | TD SYNNEX Corp.                                                       | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      9347 | NS      | $1349613.33   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp.                        | Encompass Health Corp.                                                | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      7859 | NS      | $865354.49    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp.                                     | APA Corp.                                                             | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |     34257 | NS      | $660817.53    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares, Inc.                   | Prosperity Bancshares, Inc.                                           | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10527 | NS      | $701308.74    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co.                       | Columbia Sportswear Co.                                               | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |      8730 | NS      | $493856.10    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Interpublic Group of Cos., Inc. (The)         | Interpublic Group of Cos., Inc. (The)                                 | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |     32058 | NS      | $788626.80    | 0.15%             |  |  |  | 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        |   4984440 | NS      | $4984439.60   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants, Inc.                      | Darden Restaurants, Inc.                                              | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |      6478 | NS      | $1306418.26   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ltd.                                  | Invesco Ltd.                                                          | CUSIP: N/A<br>LEI: ECPGFXU8A2SHKVVGJI15       | Long             | EC               | CORP              | BM        |     60910 | NS      | $1279719.10   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                                | Broadcom, Inc.                                                        | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     22607 | NS      | $6639675.90   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace, Inc.                               | Dynatrace, Inc.                                                       | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     15251 | NS      | $802355.11    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT, Inc.                                     | ADT, Inc.                                                             | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    128407 | NS      | $1072198.45   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Gap, Inc. (The)                               | Gap, Inc. (The)                                                       | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |     42925 | NS      | $835320.50    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp.                                | Teradata Corp.                                                        | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     36236 | NS      | $758419.48    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies, Inc.                      | Roper Technologies, Inc.                                              | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      3528 | NS      | $1941811.20   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp.                           | Kilroy Realty Corp.                                                   | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     19196 | NS      | $707564.56    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd.                                   | Amdocs Ltd.                                                           | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | GG        |     12617 | NS      | $1076987.12   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp.                               | Whirlpool Corp.                                                       | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      8284 | NS      | $687903.36    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Alaska Air Group, Inc.                        | Alaska Air Group, Inc.                                                | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     12309 | NS      | $651884.64    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                          | Meta Platforms, Inc., Class A                                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     14636 | NS      | $11320067.84  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                 | Medtronic plc                                                         | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     29283 | NS      | $2642497.92   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group, Inc.                     | MDU Resources Group, Inc.                                             | CUSIP: 552690109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57835 | NS      | $997653.75    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings, Inc.                | United Airlines Holdings, Inc.                                        | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     18998 | NS      | $1677713.38   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                   | Capital One Financial Corp.                                           | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     12315 | NS      | $2647725.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co.                 | Graphic Packaging Holding Co.                                         | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39391 | NS      | $880782.76    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp.                              | Concentrix Corp.                                                      | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     18719 | NS      | $972826.43    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DoubleVerify Holdings, Inc.                   | DoubleVerify Holdings, Inc.                                           | CUSIP: 25862V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63572 | NS      | $973923.04    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VF Corp.                                      | VF Corp.                                                              | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |     48158 | NS      | $564411.76    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp.                                | Carnival Corp.                                                        | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |     38349 | NS      | $1141649.73   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta, Inc.                                    | Okta, Inc.                                                            | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      7564 | NS      | $739759.20    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co.                           | Sonoco Products Co.                                                   | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | EC               | CORP              | US        |     13034 | NS      | $587442.38    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half, Inc.                             | Robert Half, Inc.                                                     | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |     15218 | NS      | $561696.38    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                                 | Comcast Corp., Class A                                                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     54620 | NS      | $1815022.60   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy, Inc.                                 | GoDaddy, Inc., Class A                                                | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |      7901 | NS      | $1276643.58   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands, Inc.                          | Conagra Brands, Inc.                                                  | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     48469 | NS      | $885043.94    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group, Inc.                           | Expedia Group, Inc.                                                   | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4811 | NS      | $867038.42    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                    | US Bancorp                                                            | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     46877 | NS      | $2107589.92   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                     | PPL Corp.                                                             | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      5187 | NS      | $185124.03    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                        | Tenet Healthcare Corp.                                                | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      6993 | NS      | $1127831.04   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Renewable Corp.                    | Brookfield Renewable Corp.                                            | CUSIP: 11285B108<br>LEI: 894500N9AWD5I1YNP231 | Long             | EC               | CORP              | CA        |     12505 | NS      | $458058.15    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp.                       | Synovus Financial Corp.                                               | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     23736 | NS      | $1121288.64   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's, Inc.                                  | Macy's, Inc.                                                          | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |     67169 | NS      | $848344.47    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co. plc                               | Perrigo Co. plc                                                       | CUSIP: N/A<br>LEI: 549300IFOQS6R1QLY196       | Long             | EC               | CORP              | IE        |     21989 | NS      | $586446.63    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                       | KeyCorp                                                               | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |     70292 | NS      | $1259632.64   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                           | Cisco Systems, Inc.                                                   | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     50297 | NS      | $3424219.76   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co.                          | Travel + Leisure Co.                                                  | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     19257 | NS      | $1140977.25   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning, Inc.                                 | Corning, Inc.                                                         | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |     33231 | NS      | $2101528.44   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR, Inc.                                     | KBR, Inc.                                                             | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     20700 | NS      | $967518.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                           | Fifth Third Bancorp                                                   | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     36955 | NS      | $1536219.35   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings, Inc.                           | YETI Holdings, Inc.                                                   | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     17810 | NS      | $654339.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp.          | Cognizant Technology Solutions Corp., Class A                         | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     20752 | NS      | $1489163.52   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp.                                 | Oshkosh Corp.                                                         | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     10005 | NS      | $1265932.65   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries, Inc.           | Huntington Ingalls Industries, Inc.                                   | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      3746 | NS      | $1044609.56   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Globant SA                                    | Globant SA                                                            | CUSIP: N/A<br>LEI: 2221008DCMSPYS42DS88       | Long             | EC               | CORP              | LU        |     11281 | NS      | $950537.06    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices, Inc.                  | Advanced Micro Devices, Inc.                                          | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      5212 | NS      | $918927.72    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems, Inc.                         | Bentley Systems, Inc., Class B                                        | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     13890 | NS      | $805342.20    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp.                                    | AGCO Corp.                                                            | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |      9560 | NS      | $1127793.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HP, Inc.                                      | HP, Inc.                                                              | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     57102 | NS      | $1416129.60   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings, Inc.                           | Post Holdings, Inc.                                                   | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |      5749 | NS      | $608301.69    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                             | Lowe's Cos., Inc.                                                     | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      6855 | NS      | $1532572.35   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                          | Analog Devices, Inc.                                                  | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     12621 | NS      | $2835055.23   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| UiPath, Inc.                                  | UiPath, Inc., Class A                                                 | CUSIP: 90364P105<br>LEI: 5493000YP61KBELDHT53 | Long             | EC               | CORP              | US        |     47141 | NS      | $553906.75    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider National, Inc.                      | Schneider National, Inc., Class B                                     | CUSIP: 80689H102<br>LEI: 529900V6GZ6G6E3BLV72 | Long             | EC               | CORP              | US        |     18375 | NS      | $449268.75    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials, Inc.                       | Applied Materials, Inc.                                               | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     19206 | NS      | $3458232.36   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Dillard's, Inc.                               | Dillard's, Inc., Class A                                              | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |      1482 | NS      | $691990.26    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                  | Exelon Corp.                                                          | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     40049 | NS      | $1799802.06   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein, Inc.                            | Henry Schein, Inc.                                                    | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |      5010 | NS      | $338926.50    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                 | Chevron Corp.                                                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24129 | NS      | $3658921.56   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group (The)                             | Cigna Group (The)                                                     | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      7558 | NS      | $2020858.04   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries, Inc.                       | Mohawk Industries, Inc.                                               | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |      5670 | NS      | $649271.70    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| F5, Inc.                                      | F5, Inc.                                                              | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      4409 | NS      | $1381868.78   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                                  | Target Corp.                                                          | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     12474 | NS      | $1253637.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker, Inc.                  | Stanley Black & Decker, Inc.                                          | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      9931 | NS      | $671832.15    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings, Inc.                  | Zimmer Biomet Holdings, Inc.                                          | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |      8269 | NS      | $757853.85    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio, Inc.                                  | Twilio, Inc., Class A                                                 | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |     11078 | NS      | $1429062.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| The Campbell's Co.                            | The Campbell's Co.                                                    | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |     21752 | NS      | $694323.84    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines, Inc.                         | Delta Air Lines, Inc.                                                 | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     25653 | NS      | $1364996.13   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BOK Financial Corp.                           | BOK Financial Corp.                                                   | CUSIP: 05561Q201<br>LEI: GRI2NT5QHYW751NMR949 | Long             | EC               | CORP              | US        |      4550 | NS      | $461961.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS, Inc.                                     | MKS, Inc.                                                             | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      6569 | NS      | $625237.42    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                               | Bunge Global SA                                                       | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | CH        |     14383 | NS      | $1147188.08   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd.                                     | Flex Ltd.                                                             | CUSIP: N/A<br>LEI: 549300EAQH74YHD07T53       | Long             | EC               | CORP              | SG        |     29277 | NS      | $1460043.99   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                                  | Lennar Corp., Class A                                                 | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      9502 | NS      | $1065934.36   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                | Wyndham Hotels & Resorts, Inc.                                        | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      7419 | NS      | $638034.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                      | Western Alliance Bancorp                                              | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     14346 | NS      | $1112675.76   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Global                              | Paramount Global, Class B                                             | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EC               | CORP              | US        |     54556 | NS      | $685768.92    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods, Inc.                             | Tyson Foods, Inc., Class A                                            | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     13256 | NS      | $693288.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co., Inc.               | MSC Industrial Direct Co., Inc., Class A                              | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     11673 | NS      | $1011115.26   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts, Inc.                   | Park Hotels & Resorts, Inc.                                           | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     59871 | NS      | $638224.86    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies, Inc.                     | Akamai Technologies, Inc.                                             | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |     15252 | NS      | $1163880.12   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance, Inc.                                | Reliance, Inc.                                                        | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      4068 | NS      | $1180248.84   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Ltd.                             | Wynn Resorts Ltd.                                                     | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |      7786 | NS      | $848907.58    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology, Inc.                       | Micron Technology, Inc.                                               | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     27054 | NS      | $2952673.56   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co.                                 | Organon & Co.                                                         | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |     34042 | NS      | $330207.40    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris, Inc.                                 | Viatris, Inc.                                                         | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     94666 | NS      | $827380.84    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications International Corp.      | Science Applications International Corp.                              | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     10200 | NS      | $1137096.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours, Inc.                       | DuPont de Nemours, Inc.                                               | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     20277 | NS      | $1457916.30   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar, Inc.                             | Caterpillar, Inc.                                                     | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     10396 | NS      | $4553655.92   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Group plc                     | Janus Henderson Group plc                                             | CUSIP: N/A<br>LEI: 2138009WPYMWJN3RVF44       | Long             | EC               | CORP              | JE        |     26866 | NS      | $1163297.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings, Inc.              | SS&C Technologies Holdings, Inc.                                      | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     16014 | NS      | $1368876.72   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies, Inc.                   | L3Harris Technologies, Inc.                                           | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      5836 | NS      | $1603849.52   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy, Inc.                          | Coterra Energy, Inc.                                                  | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     47085 | NS      | $1148403.15   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group, Inc.                 | Penske Automotive Group, Inc.                                         | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |      5989 | NS      | $1002618.49   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries, Inc.                         | Thor Industries, Inc.                                                 | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     10177 | NS      | $926005.23    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| VICI Properties, Inc.                         | VICI Properties, Inc.                                                 | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     47193 | NS      | $1538491.80   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp.                                    | Lear Corp.                                                            | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      6675 | NS      | $629385.75    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow, Inc.                                     | Dow, Inc.                                                             | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |     25705 | NS      | $598669.45    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor plc                                     | Amcor plc                                                             | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | JE        |    146410 | NS      | $1368933.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                        | Truist Financial Corp.                                                | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     46980 | NS      | $2053495.80   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation, Inc.                         | Onto Innovation, Inc.                                                 | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     11296 | NS      | $1070296.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands International, Inc.         | Restaurant Brands International, Inc.                                 | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | CA        |     12230 | NS      | $829927.80    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments, Inc.                         | Global Payments, Inc.                                                 | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     10517 | NS      | $840834.15    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy, Inc.                         | Clearway Energy, Inc., Class C                                        | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     27563 | NS      | $899380.69    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods, Inc.                   | Dick's Sporting Goods, Inc.                                           | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |      5683 | NS      | $1202011.33   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp.                | First American Financial Corp.                                        | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     15058 | NS      | $904232.90    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                             | CNH Industrial NV                                                     | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | NL        |     91130 | NS      | $1181044.80   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos., Inc. (The)                 | Estee Lauder Cos., Inc. (The), Class A                                | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     10882 | NS      | $1015725.88   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Union Co. (The)                       | Western Union Co. (The)                                               | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    120636 | NS      | $971119.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications, Inc.                  | Verizon Communications, Inc.                                          | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     25034 | NS      | $1070453.84   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT, Inc.                                | NNN REIT, Inc.                                                        | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     12971 | NS      | $535183.46    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                     | MGM Resorts International                                             | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |     27899 | NS      | $1016918.55   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co. (The)                         | Walt Disney Co. (The)                                                 | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     31493 | NS      | $3751131.23   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources, Inc.                      | Franklin Resources, Inc.                                              | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |     34835 | NS      | $836040.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoNation, Inc.                              | AutoNation, Inc.                                                      | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5282 | NS      | $1017524.48   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana, Inc.                                  | Humana, Inc.                                                          | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      3840 | NS      | $959500.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group, Inc.               | Principal Financial Group, Inc.                                       | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |     16253 | NS      | $1264970.99   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp. plc                    | Gates Industrial Corp. plc                                            | CUSIP: N/A<br>LEI: 549300S6K4FWUSB9KM27       | Long             | EC               | CORP              | GB        |     34261 | NS      | $849672.80    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen, Inc.                                   | Amgen, Inc.                                                           | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     10846 | NS      | $3200654.60   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                               | Microsoft Corp.                                                       | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     21041 | NS      | $11225373.50  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron, Inc.                                 | Textron, Inc.                                                         | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     10958 | NS      | $852203.66    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics, Inc.                       | Quest Diagnostics, Inc.                                               | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      7337 | NS      | $1228287.17   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System, Inc.                 | Columbia Banking System, Inc.                                         | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35678 | NS      | $849136.40    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co.                     | Molson Coors Beverage Co., Class B                                    | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |     20581 | NS      | $1002706.32   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DXC Technology Co.                            | DXC Technology Co.                                                    | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               | CORP              | US        |     51522 | NS      | $701214.42    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                         | Bank of America Corp.                                                 | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     59338 | NS      | $2804907.26   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings, Inc.                  | CF Industries Holdings, Inc.                                          | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      7453 | NS      | $691861.99    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet, Inc.                                   | Avnet, Inc.                                                           | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |     21433 | NS      | $1134663.02   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                                  | Evergy, Inc.                                                          | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     18384 | NS      | $1301587.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE, Inc.                                    | NIKE, Inc., Class B                                                   | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     25839 | NS      | $1929914.91   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings, Inc.                        | Labcorp Holdings, Inc.                                                | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3357 | NS      | $873088.56    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA, Inc.                              | Murphy USA, Inc.                                                      | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      1816 | NS      | $658263.68    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp. (The)           | Bank of New York Mellon Corp. (The)                                   | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     23154 | NS      | $2348973.30   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup, Inc.                           | ManpowerGroup, Inc.                                                   | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |     17744 | NS      | $731940.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp.                                     | CDW Corp.                                                             | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |      7982 | NS      | $1391901.16   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp.                           | First Horizon Corp.                                                   | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     59403 | NS      | $1295579.43   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors, Inc.                           | Lithia Motors, Inc., Class A                                          | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |      3488 | NS      | $1004544.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry, Inc.                                | Tapestry, Inc.                                                        | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     16208 | NS      | $1750950.24   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan U.S. Government Money Market Fund    | JPMorgan U.S. Government Money Market Fund, Class IM                  | CUSIP: 4812C2270<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | STIV             | RF                | US        |    439224 | NS      | $439223.85    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp.                         | AGNC Investment Corp.                                                 | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |     62180 | NS      | $586357.40    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Hasbro, Inc.                                  | Hasbro, Inc.                                                          | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |     10188 | NS      | $765730.08    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp.                             | Boyd Gaming Corp.                                                     | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     14013 | NS      | $1189703.70   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings, Inc.                        | OneMain Holdings, Inc.                                                | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     21118 | NS      | $1220409.22   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp.                   | Pinnacle West Capital Corp.                                           | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |     12998 | NS      | $1177878.76   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp.                                     | RTX Corp.                                                             | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     20464 | NS      | $3224512.48   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                    | Unum Group                                                            | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     15535 | NS      | $1115568.35   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health, Inc.                         | Elevance Health, Inc.                                                 | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      5813 | NS      | $1645544.04   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                            | State Street Corp.                                                    | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     15043 | NS      | $1681055.25   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's Co. (The)                             | Wendy's Co. (The)                                                     | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |     46928 | NS      | $462240.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Omnicom Group, Inc.                           | Omnicom Group, Inc.                                                   | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     13376 | NS      | $963740.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Dun & Bradstreet Holdings, Inc.               | Dun & Bradstreet Holdings, Inc.                                       | CUSIP: 26484T106<br>LEI: 254900LNALVKD1ZX7U27 | Long             | EC               | CORP              | US        |    115043 | NS      | $1046891.30   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv plc                                     | Aptiv plc                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |      8212 | NS      | $563671.68    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.                        | ON Semiconductor Corp.                                                | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     26370 | NS      | $1486213.20   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sealed Air Corp.                              | Sealed Air Corp.                                                      | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |     18707 | NS      | $547553.89    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics, Inc.                       | Arrow Electronics, Inc.                                               | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      8992 | NS      | $1043072.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America, Inc.            | Reinsurance Group of America, Inc.                                    | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |      2369 | NS      | $455914.05    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.                      | Marathon Petroleum Corp.                                              | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     11210 | NS      | $1907829.90   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                            | U-Haul Holding Co.                                                    | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |      3877 | NS      | $224323.22    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR, Inc.                                  | PACCAR, Inc.                                                          | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     17624 | NS      | $1740546.24   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp.                         | Western Digital Corp.                                                 | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     23501 | NS      | $1849293.69   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International, Inc.                     | WESCO International, Inc.                                             | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      6260 | NS      | $1295569.60   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp, Inc.                                  | NetApp, Inc.                                                          | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     13210 | NS      | $1375557.30   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo, Inc.                                   | Qorvo, Inc.                                                           | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     14043 | NS      | $1173994.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FNB Corp.                                     | FNB Corp.                                                             | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |     75985 | NS      | $1164090.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings, Inc.           | Allison Transmission Holdings, Inc.                                   | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     11387 | NS      | $1025627.09   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co. (The)                             | Hershey Co. (The)                                                     | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      3420 | NS      | $636564.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group, Inc.            | American International Group, Inc.                                    | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     10613 | NS      | $823887.19    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group, Inc.               | Everus Construction Group, Inc.                                       | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |      3031 | NS      | $225082.06    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                         | Gilead Sciences, Inc.                                                 | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     28608 | NS      | $3212392.32   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                             | Duke Energy Corp.                                                     | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      3901 | NS      | $474517.64    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications, Inc.                     | Zoom Communications, Inc., Class A                                    | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |     17264 | NS      | $1278399.20   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Docusign, Inc.                                | Docusign, Inc.                                                        | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     16705 | NS      | $1263566.20   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group, Inc.                      | UnitedHealth Group, Inc.                                              | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     10422 | NS      | $2600914.32   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co.                            | General Motors Co.                                                    | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     36694 | NS      | $1957257.96   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International, Inc.                      | CACI International, Inc., Class A                                     | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      2561 | NS      | $1179519.77   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp.                                   | FedEx Corp.                                                           | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      7750 | NS      | $1732047.50   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs, Inc.                         | Churchill Downs, Inc.                                                 | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |      6161 | NS      | $659473.44    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp.                                   | Dover Corp.                                                           | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      7868 | NS      | $1425209.52   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial, Inc.                          | Voya Financial, Inc.                                                  | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |      6590 | NS      | $461300.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust, Inc.                | Medical Properties Trust, Inc.                                        | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    114901 | NS      | $473392.12    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Crown Holdings, Inc.                          | Crown Holdings, Inc.                                                  | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     11849 | NS      | $1177316.64   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties, Inc.                    | Highwoods Properties, Inc.                                            | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     30841 | NS      | $894697.41    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp.                                     | PVH Corp.                                                             | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     11458 | NS      | $841246.36    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic, Inc.                            | Cirrus Logic, Inc.                                                    | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     10723 | NS      | $1079913.33   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                           | Kinder Morgan, Inc.                                                   | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     68641 | NS      | $1926066.46   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software, Inc.                         | Paycom Software, Inc.                                                 | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      4897 | NS      | $1133851.38   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings, Inc.                         | Leidos Holdings, Inc.                                                 | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      8748 | NS      | $1396618.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer, Inc.                    | Super Micro Computer, Inc.                                            | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     20618 | NS      | $1215843.46   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Toro Co. (The)                                | Toro Co. (The)                                                        | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      7253 | NS      | $538535.25    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works, Inc.                       | Bath & Body Works, Inc.                                               | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     24980 | NS      | $723420.80    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv plc                                     | Aptiv plc                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |      4576 | NS      | $314096.64    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup, Inc.                              | PulteGroup, Inc.                                                      | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10803 | NS      | $1219874.76   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                         | Dominion Energy, Inc.                                                 | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |      9275 | NS      | $542123.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp.                              | CVS Health Corp.                                                      | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     35577 | NS      | $2209331.70   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings, Inc.                         | Silgan Holdings, Inc.                                                 | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     19809 | NS      | $921712.77    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp.                            | Hyatt Hotels Corp., Class A                                           | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |      4410 | NS      | $621677.70    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BorgWarner, Inc.                              | BorgWarner, Inc.                                                      | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     23759 | NS      | $874331.20    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies, Inc.                       | Dell Technologies, Inc., Class C                                      | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     14460 | NS      | $1918697.40   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co. (The)                      | New York Times Co. (The), Class A                                     | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     11340 | NS      | $588432.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp.                                     | FMC Corp.                                                             | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |     26448 | NS      | $1032529.92   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources, Inc.                       | Civitas Resources, Inc.                                               | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     21967 | NS      | $666918.12    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                       | Webster Financial Corp.                                               | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     16853 | NS      | $971575.45    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM, Inc.                                | QUALCOMM, Inc.                                                        | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     24515 | NS      | $3597821.40   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings, Inc.                      | Sirius XM Holdings, Inc.                                              | CUSIP: 829933100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26196 | NS      | $553259.52    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian, Inc.                          | First Hawaiian, Inc.                                                  | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     27276 | NS      | $661443.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations, Inc.              | Fortune Brands Innovations, Inc.                                      | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     11689 | NS      | $637518.06    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co. (The)                              | Mosaic Co. (The)                                                      | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     32959 | NS      | $1186853.59   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                                 | Centene Corp.                                                         | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     18892 | NS      | $492514.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp.                                | M&T Bank Corp.                                                        | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |      7542 | NS      | $1423175.40   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co.                                | Ford Motor Co.                                                        | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |    160572 | NS      | $1777532.04   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group, Inc.                | Citizens Financial Group, Inc.                                        | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     31961 | NS      | $1525178.92   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit, Inc.                                  | Reddit, Inc., Class A                                                 | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5951 | NS      | $955671.09    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts, Inc.                            | Vail Resorts, Inc.                                                    | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      3821 | NS      | $574143.46    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Co.                          | Eastman Chemical Co.                                                  | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |      9158 | NS      | $664962.38    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp. of America                    | Packaging Corp. of America                                            | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      6188 | NS      | $1198925.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.             | Booz Allen Hamilton Holding Corp.                                     | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |      3995 | NS      | $428783.35    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments, Inc.                       | Texas Instruments, Inc.                                               | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     19971 | NS      | $3615949.26   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Clarivate plc                                 | Clarivate plc                                                         | CUSIP: N/A<br>LEI: 549300WDHIIODXFO0R55       | Long             | EC               | CORP              | JE        |    211960 | NS      | $816046.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce, Inc.                              | Salesforce, Inc.                                                      | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     19168 | NS      | $4951669.44   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corp.                               | Air Lease Corp.                                                       | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |      6167 | NS      | $341651.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services, Inc.  | Fidelity National Information Services, Inc.                          | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      8082 | NS      | $641791.62    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd.                                   | Garmin Ltd.                                                           | CUSIP: N/A<br>LEI: 2549001E0HIPIJQ0W046       | Long             | EC               | CORP              | CH        |      7394 | NS      | $1617511.44   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton, Inc.                               | DR Horton, Inc.                                                       | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     10032 | NS      | $1432970.88   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Holdings, Inc.      | CCC Intelligent Solutions Holdings, Inc.                              | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64253 | NS      | $621326.51    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co.                         | National Fuel Gas Co.                                                 | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |      7163 | NS      | $621676.77    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding plc              | Sensata Technologies Holding plc                                      | CUSIP: N/A<br>LEI: 529900MS7KFYCY9MS037       | Long             | EC               | CORP              | GB        |     28514 | NS      | $877090.64    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Skechers U.S.A., Inc.                         | Skechers U.S.A., Inc., Class A                                        | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Long             | EC               | CORP              | US        |      9789 | NS      | $619154.25    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block, Inc.                               | H&R Block, Inc.                                                       | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     18302 | NS      | $994530.68    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp. International                   | Service Corp. International                                           | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |     14640 | NS      | $1117178.40   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group, Inc.               | Jefferies Financial Group, Inc.                                       | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |      8088 | NS      | $466354.08    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems, Inc.                | Monolithic Power Systems, Inc.                                        | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      2233 | NS      | $1588198.92   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay, Inc.                                    | eBay, Inc.                                                            | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     20368 | NS      | $1868764.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp.                               | A O Smith Corp.                                                       | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |      9522 | NS      | $674062.38    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co., Inc.                            | Best Buy Co., Inc.                                                    | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |     14855 | NS      | $966466.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Timothy J. Clemens

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

**Title:** Treasurer and Principal Financial Officer