# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-25-000486
**Filing Date:** 2025-9
**Character Count:** 177352
**Document Hash:** 5f402081917dc028b84f77d30f33e5c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-000486.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001099263-25-000486

**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:** T. Rowe Price Exchange-Traded Funds, Inc.
- **CENTRAL INDEX KEY:** 0001795351

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23494
- **FILM NUMBER:** 251342195

**BUSINESS ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

## Series and Classes Contracts Data

### T. Rowe Price International Equity Research ETF (Series ID: S000092024)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000259934 | T. Rowe Price International Equity Research ETF | TIER            |

## Nport-Ex

T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

July 31, 2025 Unaudited

---

| | | |
|:---|:---|:---|
| **PORTFOLIO OF INVESTMENTS‡** | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **AUSTRALIA 4.3%** | **AUSTRALIA 4.3%** | **AUSTRALIA 4.3%** |
| **Common Stocks 4.3%** |  |  |
| ANZ Group Holdings | 1093 | &nbsp;&nbsp;&nbsp;21 |
| Aristocrat Leisure | &nbsp;&nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;17 |
| ASX | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;17 |
| BHP Group | 2196 | &nbsp;&nbsp;&nbsp;56 |
| BlueScope Steel | &nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;8 |
| Brambles | 1139 | &nbsp;&nbsp;&nbsp;17 |
| Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;47 |
| CSL | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;39 |
| Downer EDI | 4811 | &nbsp;&nbsp;&nbsp;21 |
| Fortescue | 1048 | &nbsp;&nbsp;&nbsp;12 |
| Goodman Group | 1160 | &nbsp;&nbsp;&nbsp;26 |
| Macquarie Group | &nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;22 |
| Medibank | 4758 | &nbsp;&nbsp;&nbsp;16 |
| National Australia Bank | &nbsp;&nbsp;&nbsp;&nbsp;973 | &nbsp;&nbsp;&nbsp;24 |
| Northern Star Resources | 1339 | &nbsp;&nbsp;&nbsp;13 |
| Suncorp Group | 1262 | &nbsp;&nbsp;&nbsp;17 |
| Telstra Group | 5857 | &nbsp;&nbsp;&nbsp;19 |
| Transurban Group | 1224 | &nbsp;&nbsp;&nbsp;11 |
| Westpac Banking | 1701 | &nbsp;&nbsp;&nbsp;37 |
| Woodside Energy Group | 1113 | &nbsp;&nbsp;&nbsp;19 |
| Xero (1) | &nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;25 |
| **Total Australia (Cost $484)** |  | **484** |
| **AUSTRIA 0.6%** | **AUSTRIA 0.6%** | **AUSTRIA 0.6%** |
| **Common Stocks 0.6%** |  |  |
| BAWAG Group | &nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;45 |
| Erste Group Bank | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;25 |
| **Total Austria (Cost $68)** |  | &nbsp;&nbsp;&nbsp;**70** |
| **BELGIUM 0.4%** | **BELGIUM 0.4%** | **BELGIUM 0.4%** |
| **Common Stocks 0.4%** |  |  |
| Anheuser-Busch InBev | &nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;28 |
| Argenx (1) | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;19 |
| **Total Belgium (Cost $50)** |  | &nbsp;&nbsp;&nbsp;**47** |
| **BRAZIL 0.9%** | **BRAZIL 0.9%** | **BRAZIL 0.9%** |
| **Common Stocks 0.9%** |  |  |
| Itau Unibanco Holding, ADR (USD) | 4310 | &nbsp;&nbsp;&nbsp;27 |
| NU Holdings, Class A (USD) (1) | 1900 | &nbsp;&nbsp;&nbsp;23 |
| Petroleo Brasileiro - Petrobras, ADR (USD) | 2058 | &nbsp;&nbsp;&nbsp;27 |
| Vale, ADR (USD) | 2116 | &nbsp;&nbsp;&nbsp;20 |
| **Total Brazil (Cost $98)** |  | &nbsp;&nbsp;&nbsp;**97** |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **CANADA 8.0%** | **CANADA 8.0%** | **CANADA 8.0%** |
| **Common Stocks 8.0%** |  |  |
| Agnico Eagle Mines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;33 |
| Alimentation Couche-Tard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;30 |
| Brookfield | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp;&nbsp;49 |
| Cameco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;11 |
| Canadian National Railway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp;40 |
| Canadian Natural Resources | &nbsp;&nbsp;&nbsp;1142 | &nbsp;&nbsp;&nbsp;36 |
| Canadian Pacific Kansas City | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;44 |
| Canadian Tire, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;13 |
| Capstone Copper (1) | &nbsp;&nbsp;&nbsp;1958 | &nbsp;&nbsp;&nbsp;11 |
| Constellation Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;42 |
| Definity Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;11 |
| Element Fleet Management | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666 | &nbsp;&nbsp;&nbsp;17 |
| Enbridge | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;37 |
| Franco-Nevada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;20 |
| George Weston | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;19 |
| Great-West Lifeco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942 | &nbsp;&nbsp;&nbsp;35 |
| Ivanhoe Mines, Class A (1) | &nbsp;&nbsp;&nbsp;1189 | &nbsp;&nbsp;&nbsp;&nbsp;9 |
| Manulife Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;&nbsp;21 |
| Maple Leaf Foods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;12 |
| National Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;96 |
| Nutrien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;16 |
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548 | &nbsp;&nbsp;&nbsp;70 |
| Shopify, Class A (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;71 |
| Suncor Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;33 |
| TC Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;24 |
| Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;50 |
| Tourmaline Oil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;10 |
| Wheaton Precious Metals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;23 |
| WSP Global | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;19 |
| **Total Canada (Cost $893)** |  | **902** |
| **CHINA 8.5%** | **CHINA 8.5%** | **CHINA 8.5%** |
| **Common Stocks 8.5%** |  |  |
| Alibaba Group Holding (HKD) | 10600 | 159 |
| BeOne Medicines (HKD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;18 |
| BYD, Class A | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;26 |
| China Construction Bank, Class H (HKD) | 65000 | &nbsp;&nbsp;&nbsp;67 |
| China Merchants Bank, Class H (HKD) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;46 |
| China Pacific Insurance Group, Class H (HKD) | 12400 | &nbsp;&nbsp;&nbsp;50 |
| CRRC, Class H (HKD) | 27000 | &nbsp;&nbsp;&nbsp;19 |
| Hongfa Technology, Class A | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;12 |
| Industrial & Commercial Bank of China, Class H (HKD) | 46000 | &nbsp;&nbsp;&nbsp;35 |
| Jiangsu Hengrui Pharmaceuticals (HKD) (1) | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;20 |
| NetEase (HKD) | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;37 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| PDD Holdings, ADR (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp;&nbsp;51 |
| Sany Heavy Industry, Class A | &nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;25 |
| Tencent Holdings (HKD) | &nbsp;&nbsp;&nbsp;3700 | 259 |
| Tongcheng Travel Holdings (HKD) | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;15 |
| Weichai Power, Class A | 13000 | &nbsp;&nbsp;&nbsp;27 |
| Xiaomi, Class B (HKD) (1) | &nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;63 |
| Yum China Holdings (HKD) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;14 |
| Zijin Mining Group, Class H (HKD) | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;16 |
| **Total China (Cost $944)** |  | **959** |
| **DENMARK 0.9%** | **DENMARK 0.9%** | **DENMARK 0.9%** |
| **Common Stocks 0.9%** |  |  |
| DSV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;22 |
| Novo Nordisk, Class B | &nbsp;&nbsp;&nbsp;1292 | &nbsp;&nbsp;&nbsp;60 |
| Novonesis Novozymes B, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;17 |
| **Total Denmark (Cost $129)** |  | &nbsp;&nbsp;&nbsp;**99** |
| **FINLAND 0.9%** | **FINLAND 0.9%** | **FINLAND 0.9%** |
| **Common Stocks 0.9%** |  |  |
| Mandatum | &nbsp;&nbsp;&nbsp;4143 | &nbsp;&nbsp;&nbsp;28 |
| Sampo, Class A | &nbsp;&nbsp;&nbsp;3871 | &nbsp;&nbsp;&nbsp;42 |
| Stora Enso, Class R | &nbsp;&nbsp;&nbsp;1439 | &nbsp;&nbsp;&nbsp;15 |
| UPM-Kymmene | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;19 |
| **Total Finland (Cost $102)** |  | **104** |
| **FRANCE 7.6%** | **FRANCE 7.6%** | **FRANCE 7.6%** |
| **Common Stocks 7.6%** |  |  |
| Air Liquide | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;57 |
| Airbus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;62 |
| AXA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp;&nbsp;20 |
| BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429 | &nbsp;&nbsp;&nbsp;39 |
| Cie de Saint-Gobain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;27 |
| Cie Generale des Etablissements Michelin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;14 |
| Danone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;26 |
| Dassault Systemes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;16 |
| Engie | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;16 |
| EssilorLuxottica | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;32 |
| Euronext | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;11 |
| Hermes International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;34 |
| Legrand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;25 |
| L'Oreal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;40 |
| LVMH Moet Hennessy Louis Vuitton | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;64 |
| Orange | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974 | &nbsp;&nbsp;&nbsp;15 |
| Safran | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;60 |
| Sanofi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;53 |
| Schneider Electric | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;60 |
| Societe Generale | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772 | &nbsp;&nbsp;&nbsp;49 |
| Thales | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;22 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

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---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| TotalEnergies | 1141 | &nbsp;&nbsp;&nbsp;68 |
| Vinci | &nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;44 |
| **Total France (Cost $850)** |  | **854** |
| **GERMANY 6.7%** | **GERMANY 6.7%** | **GERMANY 6.7%** |
| **Common Stocks 6.5%** |  |  |
| adidas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;18 |
| Allianz | &nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;51 |
| BASF | &nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp;21 |
| Bayer | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;11 |
| Beiersdorf | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;17 |
| Deutsche Boerse | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;23 |
| Deutsche Telekom | 2207 | &nbsp;&nbsp;&nbsp;79 |
| DHL Group | &nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;14 |
| E.ON | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;12 |
| Fresenius SE & KGaA | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;15 |
| Hannover Rueck | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;19 |
| Infineon Technologies | &nbsp;&nbsp;&nbsp;&nbsp;746 | &nbsp;&nbsp;&nbsp;29 |
| Mercedes-Benz Group | &nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;13 |
| Muenchener Rueckversicherungs-Gesellschaft | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;47 |
| Rheinmetall | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;46 |
| SAP | &nbsp;&nbsp;&nbsp;&nbsp;513 | 147 |
| Scout24 | &nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;16 |
| Siemens | &nbsp;&nbsp;&nbsp;&nbsp;395 | 101 |
| Siemens Energy (1) | &nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;26 |
| Siemens Healthineers | &nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;20 |
| Symrise | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;11 |
|  |  | 736 |
| **Preferred Stocks 0.2%** |  |  |
| Volkswagen | &nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;16 |
| **Total Germany (Cost $765)** |  | **752** |
| **HONG KONG 0.7%** | **HONG KONG 0.7%** | **HONG KONG 0.7%** |
| **Common Stocks 0.7%** |  |  |
| AIA Group | 4800 | &nbsp;&nbsp;&nbsp;45 |
| Hong Kong Exchanges & Clearing | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;21 |
| Techtronic Industries | 1500 | &nbsp;&nbsp;&nbsp;18 |
| **Total Hong Kong (Cost $82)** |  | &nbsp;&nbsp;&nbsp;**84** |
| **INDIA 4.6%** | **INDIA 4.6%** | **INDIA 4.6%** |
| **Common Stocks 2.5%** |  |  |
| Axis Bank, GDR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;19 |
| HDFC Bank, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;56 |
| ICICI Bank, ADR (USD) | 2261 | &nbsp;&nbsp;&nbsp;76 |
| Infosys, ADR (USD) | 2271 | &nbsp;&nbsp;&nbsp;38 |
| Larsen & Toubro, GDR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;29 |
| Mahindra & Mahindra, GDR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;484 | &nbsp;&nbsp;&nbsp;17 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

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| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Reliance Industries, GDR (USD) (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;43 |
|  |  | 278 |
| **Exchange-Traded Funds 2.1%** |  |  |
| iShares MSCI India ETF (USD) | &nbsp;&nbsp;&nbsp;4514 | 237 |
| **Total India (Cost $535)** |  | **515** |
| **INDONESIA 0.5%** | **INDONESIA 0.5%** | **INDONESIA 0.5%** |
| **Common Stocks 0.5%** |  |  |
| Bank Central Asia | 55200 | &nbsp;&nbsp;&nbsp;28 |
| Bank Mandiri Persero | 40600 | &nbsp;&nbsp;&nbsp;11 |
| Bank Rakyat Indonesia Persero | 66900 | &nbsp;&nbsp;&nbsp;15 |
| **Total Indonesia (Cost $57)** |  | &nbsp;&nbsp;&nbsp;**54** |
| **IRELAND 0.3%** | **IRELAND 0.3%** | **IRELAND 0.3%** |
| **Common Stocks 0.3%** |  |  |
| Kingspan Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp;14 |
| Ryanair Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;15 |
| **Total Ireland (Cost $29)** |  | &nbsp;&nbsp;&nbsp;**29** |
| **ISRAEL 0.2%** | **ISRAEL 0.2%** | **ISRAEL 0.2%** |
| **Common Stocks 0.2%** |  |  |
| CyberArk Software (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;17 |
| **Total Israel (Cost $16)** |  | &nbsp;&nbsp;&nbsp;**17** |
| **ITALY 2.0%** | **ITALY 2.0%** | **ITALY 2.0%** |
| **Common Stocks 2.0%** |  |  |
| Davide Campari-Milano | &nbsp;&nbsp;&nbsp;1581 | &nbsp;&nbsp;&nbsp;11 |
| Enel | &nbsp;&nbsp;&nbsp;4383 | &nbsp;&nbsp;&nbsp;39 |
| Ferrari | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;34 |
| Generali | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;25 |
| Intesa Sanpaolo | &nbsp;&nbsp;&nbsp;2966 | &nbsp;&nbsp;&nbsp;18 |
| Leonardo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;10 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;15 |
| UniCredit | &nbsp;&nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;77 |
| **Total Italy (Cost $227)** |  | **229** |
| **JAPAN 15.1%** | **JAPAN 15.1%** | **JAPAN 15.1%** |
| **Common Stocks 15.1%** |  |  |
| Ajinomoto | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;19 |
| Asahi Group Holdings | &nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;22 |
| Asics | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;33 |
| Bridgestone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;24 |
| Chugai Pharmaceutical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;38 |
| Denso | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;19 |
| Disco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;30 |
| Food & Life | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;15 |
| FUJIFILM Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;17 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

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| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Fujitsu | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | 17 |
| Hamamatsu Photonics | &nbsp;&nbsp;&nbsp;1000 | 12 |
| Hitachi | &nbsp;&nbsp;&nbsp;2900 | 89 |
| Isetan Mitsukoshi Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | 10 |
| ITOCHU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | 31 |
| Japan Post Bank | &nbsp;&nbsp;&nbsp;1200 | 13 |
| Japan Prime Realty Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | 15 |
| Japan Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | 14 |
| Kajima | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | 18 |
| KDDI | &nbsp;&nbsp;&nbsp;1900 | 31 |
| Keyence | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | 36 |
| Kyocera | &nbsp;&nbsp;&nbsp;1000 | 12 |
| Kyushu Railway | &nbsp;&nbsp;&nbsp;1100 | 27 |
| MatsukiyoCocokara | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | 16 |
| Mercari (1) | &nbsp;&nbsp;&nbsp;1100 | 17 |
| Mitsubishi | &nbsp;&nbsp;&nbsp;1100 | 22 |
| Mitsubishi Chemical Group | &nbsp;&nbsp;&nbsp;2000 | 11 |
| Mitsubishi Electric | &nbsp;&nbsp;&nbsp;1800 | 40 |
| Mitsubishi Estate | &nbsp;&nbsp;&nbsp;1700 | 32 |
| Mitsubishi UFJ Financial Group | &nbsp;&nbsp;&nbsp;6400 | 88 |
| Mitsui Fudosan | &nbsp;&nbsp;&nbsp;1800 | 16 |
| Mizuho Financial Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | 15 |
| NEC | &nbsp;&nbsp;&nbsp;1100 | 32 |
| Nintendo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | 50 |
| Nippon Sanso Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | 28 |
| Nippon Steel | &nbsp;&nbsp;&nbsp;1600 | 31 |
| Open House Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | 27 |
| ORIX | &nbsp;&nbsp;&nbsp;1100 | 25 |
| Otsuka Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | 14 |
| Renesas Electronics | &nbsp;&nbsp;&nbsp;2000 | 24 |
| Resona Holdings | &nbsp;&nbsp;&nbsp;3000 | 27 |
| SBI Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | 19 |
| Seven & i Holdings | &nbsp;&nbsp;&nbsp;3300 | 44 |
| Shin-Etsu Chemical | &nbsp;&nbsp;&nbsp;1400 | 40 |
| SoftBank | 14000 | 20 |
| SoftBank Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | 38 |
| Sony Group | &nbsp;&nbsp;&nbsp;3700 | 89 |
| Sumitomo | &nbsp;&nbsp;&nbsp;1300 | 33 |
| Sumitomo Mitsui Trust Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | 24 |
| Sysmex | &nbsp;&nbsp;&nbsp;1000 | 16 |
| T&D Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | 17 |
| Taiheiyo Cement | &nbsp;&nbsp;&nbsp;1800 | 44 |
| Takeda Pharmaceutical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | 22 |
| Toho | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | 19 |
| Tokio Marine Holdings | &nbsp;&nbsp;&nbsp;1400 | 56 |
| Tokyo Electron | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | 16 |
| Toyota Motor | &nbsp;&nbsp;&nbsp;4700 | 84 |

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

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| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Trial Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| Unicharm | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Yaskawa Electric | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| Yokogawa Electric | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| **Total Japan (Cost $1,707)** |  | **1698** |
| **KUWAIT 0.2%** | **KUWAIT 0.2%** | **KUWAIT 0.2%** |
| **Common Stocks 0.2%** |  |  |
| National Bank of Kuwait | &nbsp;&nbsp;&nbsp;6064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| **Total Kuwait (Cost $20)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21** |
| **MALAYSIA 0.1%** | **MALAYSIA 0.1%** | **MALAYSIA 0.1%** |
| **Common Stocks 0.1%** |  |  |
| CIMB Group Holdings | 10500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| **Total Malaysia (Cost $17)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16** |
| **MEXICO 0.2%** | **MEXICO 0.2%** | **MEXICO 0.2%** |
| **Common Stocks 0.2%** |  |  |
| Grupo Mexico SAB de CV, Series B | &nbsp;&nbsp;&nbsp;2754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp;&nbsp;3709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| **Total Mexico (Cost $28)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28** |
| **NETHERLANDS 3.3%** | **NETHERLANDS 3.3%** | **NETHERLANDS 3.3%** |
| **Common Stocks 3.3%** |  |  |
| ABN AMRO Bank, CVA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| Adyen (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| AerCap Holdings (USD) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| ASM International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| ASML Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;121 |
| CVC Capital Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| DSM-Firmenich | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| Heineken Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| ING Groep, CVA | &nbsp;&nbsp;&nbsp;1856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Koninklijke | &nbsp;&nbsp;&nbsp;2777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| Koninklijke Ahold Delhaize | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Prosus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| Universal Music Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| **Total Netherlands (Cost $397)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**370** |
| **NORWAY 0.3%** | **NORWAY 0.3%** | **NORWAY 0.3%** |
| **Common Stocks 0.3%** |  |  |
| DNB Bank | &nbsp;&nbsp;&nbsp;1284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| **Total Norway (Cost $34)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32** |
| **PERU 0.1%** | **PERU 0.1%** | **PERU 0.1%** |
| **Common Stocks 0.1%** |  |  |
| Credicorp (USD) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| **Total Peru (Cost $14)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15** |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| **PHILIPPINES 0.4%** | **PHILIPPINES 0.4%** | **PHILIPPINES 0.4%** |
| **Common Stocks 0.4%** |  |  |
| BDO Unibank | &nbsp;&nbsp;&nbsp;8610 | &nbsp;&nbsp;&nbsp;21 |
| International Container Terminal Services | &nbsp;&nbsp;&nbsp;3710 | &nbsp;&nbsp;&nbsp;28 |
| **Total Philippines (Cost $52)** |  | &nbsp;&nbsp;&nbsp;**49** |
| **POLAND 0.1%** | **POLAND 0.1%** | **POLAND 0.1%** |
| **Common Stocks 0.1%** |  |  |
| Bank Polska Kasa Opieki | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;17 |
| **Total Poland (Cost $18)** |  | &nbsp;&nbsp;&nbsp;**17** |
| **PORTUGAL 0.4%** | **PORTUGAL 0.4%** | **PORTUGAL 0.4%** |
| **Common Stocks 0.4%** |  |  |
| Galp Energia SGPS | &nbsp;&nbsp;&nbsp;1641 | &nbsp;&nbsp;&nbsp;31 |
| Jeronimo Martins | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;11 |
| **Total Portugal (Cost $40)** |  | &nbsp;&nbsp;&nbsp;**42** |
| **QATAR 0.2%** | **QATAR 0.2%** | **QATAR 0.2%** |
| **Common Stocks 0.2%** |  |  |
| Qatar National Bank | &nbsp;&nbsp;&nbsp;4061 | &nbsp;&nbsp;&nbsp;21 |
| **Total Qatar (Cost $19)** |  | &nbsp;&nbsp;&nbsp;**21** |
| **SAUDI ARABIA 0.8%** | **SAUDI ARABIA 0.8%** | **SAUDI ARABIA 0.8%** |
| **Common Stocks 0.8%** |  |  |
| Al Rajhi Bank | &nbsp;&nbsp;&nbsp;1458 | &nbsp;&nbsp;&nbsp;37 |
| Saudi Arabian Oil | &nbsp;&nbsp;&nbsp;3597 | &nbsp;&nbsp;&nbsp;23 |
| Saudi National Bank | &nbsp;&nbsp;&nbsp;2776 | &nbsp;&nbsp;&nbsp;28 |
| **Total Saudi Arabia (Cost $86)** |  | &nbsp;&nbsp;&nbsp;**88** |
| **SINGAPORE 1.7%** | **SINGAPORE 1.7%** | **SINGAPORE 1.7%** |
| **Common Stocks 1.7%** |  |  |
| CapitaLand Integrated Commercial Trust | 10000 | &nbsp;&nbsp;&nbsp;17 |
| DBS Group Holdings | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;40 |
| Oversea-Chinese Banking | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;13 |
| Sea, ADR (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;40 |
| Seatrium | 15900 | &nbsp;&nbsp;&nbsp;28 |
| Singapore Telecommunications | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;21 |
| Trip.com Group, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;19 |
| United Overseas Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;17 |
| **Total Singapore (Cost $190)** |  | **195** |
| **SOUTH AFRICA 0.7%** | **SOUTH AFRICA 0.7%** | **SOUTH AFRICA 0.7%** |
| **Common Stocks 0.7%** |  |  |
| Anglogold Ashanti | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| Capitec Bank Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;16 |
| FirstRand | &nbsp;&nbsp;&nbsp;3624 | &nbsp;&nbsp;&nbsp;15 |
| Gold Fields | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709 | &nbsp;&nbsp;&nbsp;17 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

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---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Naspers, Class N | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;28 |
| **Total South Africa (Cost $84)** |  | &nbsp;&nbsp;&nbsp;**83** |
| **SOUTH KOREA 3.3%** | **SOUTH KOREA 3.3%** | **SOUTH KOREA 3.3%** |
| **Common Stocks 3.3%** |  |  |
| HD Hyundai Marine Solution | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;39 |
| KB Financial Group, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;21 |
| LG Chem | &nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;33 |
| Samsung Electronics, GDR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;120 | 150 |
| Samsung Heavy Industries (1) | 1285 | &nbsp;&nbsp;&nbsp;18 |
| SK Hynix | &nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;70 |
| SK Square (1) | &nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;39 |
| **Total South Korea (Cost $361)** |  | **370** |
| **SPAIN 1.4%** | **SPAIN 1.4%** | **SPAIN 1.4%** |
| **Common Stocks 1.4%** |  |  |
| Amadeus IT Group, Class A | &nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;21 |
| Banco Bilbao Vizcaya Argentaria | &nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;12 |
| Banco Santander | 3890 | &nbsp;&nbsp;&nbsp;34 |
| Cellnex Telecom (1) | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;11 |
| Iberdrola | 2784 | &nbsp;&nbsp;&nbsp;49 |
| Industria de Diseno Textil | &nbsp;&nbsp;&nbsp;&nbsp;401 | &nbsp;&nbsp;&nbsp;19 |
| Redeia | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;10 |
| **Total Spain (Cost $160)** |  | **156** |
| **SWEDEN 1.8%** | **SWEDEN 1.8%** | **SWEDEN 1.8%** |
| **Common Stocks 1.8%** |  |  |
| Assa Abloy, Class B | &nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;14 |
| Atlas Copco, Class A | 1818 | &nbsp;&nbsp;&nbsp;28 |
| EQT | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;12 |
| Essity Aktiebolag, Class B | &nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;11 |
| Investor, Class B | &nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;17 |
| Saab, Class B | &nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;13 |
| Sandvik | &nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;16 |
| Skandinaviska Enskilda Banken, Class A | &nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;14 |
| Spotify Technology (USD) (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;44 |
| Telefonaktiebolaget LM Ericsson, Class B | 1757 | &nbsp;&nbsp;&nbsp;13 |
| Volvo, Class B | &nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;17 |
| **Total Sweden (Cost $206)** |  | **199** |
| **SWITZERLAND 5.2%** | **SWITZERLAND 5.2%** | **SWITZERLAND 5.2%** |
| **Common Stocks 5.2%** |  |  |
| ABB | &nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp;&nbsp;38 |
| Alcon | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;31 |
| Amrize (1) | &nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;9 |
| Cie Financiere Richemont, Class A | &nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;43 |
| Galderma Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;14 |
| Givaudan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;13 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

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---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| Holcim | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;16 |
| Julius Baer Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;14 |
| Lonza Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;15 |
| Nestle | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;87 |
| Novartis | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723 | &nbsp;&nbsp;&nbsp;82 |
| Partners Group Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;31 |
| Roche Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;84 |
| Sika | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;10 |
| Sonova Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;19 |
| UBS Group | &nbsp;&nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;39 |
| Zurich Insurance Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;37 |
| **Total Switzerland (Cost $598)** |  | **582** |
| **TAIWAN 5.6%** | **TAIWAN 5.6%** | **TAIWAN 5.6%** |
| **Common Stocks 5.6%** |  |  |
| Chunghwa Telecom, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;14 |
| CTBC Financial Holding | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;12 |
| Delta Electronics | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;38 |
| E.Sun Financial Holding | &nbsp;&nbsp;11110 | &nbsp;&nbsp;&nbsp;12 |
| Elite Material | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;37 |
| Hon Hai Precision Industry, GDR (USD) | &nbsp;&nbsp;&nbsp;3254 | &nbsp;&nbsp;&nbsp;38 |
| MediaTek | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;45 |
| Taiwan Semiconductor Manufacturing | &nbsp;&nbsp;&nbsp;7000 | 269 |
| Taiwan Semiconductor Manufacturing, ADR (USD) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | 165 |
| **Total Taiwan (Cost $594)** |  | **630** |
| **THAILAND 0.1%** | **THAILAND 0.1%** | **THAILAND 0.1%** |
| **Common Stocks 0.1%** |  |  |
| Siam Cement PCL | &nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;15 |
| **Total Thailand (Cost $13)** |  | &nbsp;&nbsp;&nbsp;**15** |
| **UNITED ARAB EMIRATES 0.3%** | **UNITED ARAB EMIRATES 0.3%** | **UNITED ARAB EMIRATES 0.3%** |
| **Common Stocks 0.3%** |  |  |
| Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp;&nbsp;3386 | &nbsp;&nbsp;&nbsp;15 |
| Emaar Properties PJSC | &nbsp;&nbsp;&nbsp;4087 | &nbsp;&nbsp;&nbsp;17 |
| **Total United Arab Emirates (Cost $32)** |  | &nbsp;&nbsp;&nbsp;**32** |
| **UNITED KINGDOM 10.8%** | **UNITED KINGDOM 10.8%** | **UNITED KINGDOM 10.8%** |
| **Common Stocks 10.8%** |  |  |
| 3i Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;22 |
| Admiral Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;32 |
| Anglo American | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;12 |
| Ashtead Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;13 |
| AstraZeneca | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 | 102 |
| Auto Trader Group | &nbsp;&nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;12 |
| Aviva | &nbsp;&nbsp;&nbsp;5785 | &nbsp;&nbsp;&nbsp;49 |
| BAE Systems | &nbsp;&nbsp;&nbsp;1353 | &nbsp;&nbsp;&nbsp;32 |
| Barclays | 10806 | &nbsp;&nbsp;&nbsp;53 |

---

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

---

| | | |
|:---|:---|:---|
|  | **Shares** | **$ Value** |
| (Cost and value in $000s) |  |  |
| BP | &nbsp;&nbsp;&nbsp;6110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 |
| British American Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |
| BT Group | &nbsp;&nbsp;&nbsp;7056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Compass Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 |
| Diageo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Experian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| Glencore (1) | &nbsp;&nbsp;&nbsp;3880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| GSK | &nbsp;&nbsp;&nbsp;1402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| Haleon | &nbsp;&nbsp;&nbsp;2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Hiscox | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| HSBC Holdings | &nbsp;&nbsp;&nbsp;4046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| Imperial Brands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
| Informa | &nbsp;&nbsp;&nbsp;1981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 |
| Lloyds Banking Group | 39126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |
| London Stock Exchange Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 |
| National Grid | &nbsp;&nbsp;&nbsp;3008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 |
| Reckitt Benckiser Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
| RELX | &nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 |
| Rio Tinto | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| Rolls-Royce Holdings | &nbsp;&nbsp;&nbsp;4627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 |
| Segro | &nbsp;&nbsp;&nbsp;1331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Shell | &nbsp;&nbsp;&nbsp;2957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 |
| SSE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| Standard Chartered | &nbsp;&nbsp;&nbsp;2226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |
| Tesco | &nbsp;&nbsp;&nbsp;2889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Unilever | &nbsp;&nbsp;&nbsp;1418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| Wise, Class A (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| **Total United Kingdom (Cost $1,208)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**1216** |
| **UNITED STATES 0.3%** | **UNITED STATES 0.3%** | **UNITED STATES 0.3%** |
| **Common Stocks 0.3%** |  |  |
| Coupang (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
| ResMed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |
| **Total United States (Cost $38)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39** |
| **SHORT-TERM INVESTMENTS 0.4%** | **SHORT-TERM INVESTMENTS 0.4%** | **SHORT-TERM INVESTMENTS 0.4%** |
| **Money Market Funds 0.4%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, 4.25% (3) | 48506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| **Total Short-Term Investments<br> (Cost $49)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49** |
| **Total Investments<br> 99.9% of Net Assets (Cost $11,294)** |  | **$11259** |
| **Other Assets Less Liabilities 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10** |
| **Net Assets 100.0%** |  | **$11269** |

---

‡ Country classifications are generally based on MSCI categories or another unaffiliated third party data provider; Shares are denominated in the currency of the
country presented unless otherwise noted.

------

T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

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(1) Non-income producing.

(2) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers. Total
value of such securities at period-end amounts to $43 and represents 0.4% of net assets.

(3) Seven-day yield

---

| | |
|:---|:---|
| ADR | American Depositary Receipts |
| CVA | Dutch Certificate (Certificaten Van Aandelen) |
| ETF | Exchange-Traded Fund |
| GDR | Global Depositary Receipts |
| HKD | Hong Kong Dollar |
| USD | U.S. Dollar |

---

The accompanying notes are an integral part of this portfolio of investments.

------

T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

Unaudited

#### NOTES TO PORTFOLIO OF INVESTMENTS

------

T. Rowe Price International Equity Research ETF (the fund) is registered under the Investment Company Act of 1940 (the 1940 Act) as an open-end management investment company and follows accounting and reporting guidance of the Financial Accounting Standards Board *Accounting Standards Codification* Topic 946. The accompanying Portfolio of Investments was prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). For additional information on the fund's significant accounting policies and investment related disclosures, please refer to the fund's prospectus.

#### VALUATION

#### Fair Value
The fund's financial instruments are valued at the close of the New York Stock Exchange (NYSE), normally 4 p.m. Eastern Time, each day the NYSE is open for business, and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fund's Board of Directors (the Board) has designated T. Rowe Price Associates, Inc. as the fund's valuation designee (Valuation Designee). Subject to oversight by the Board, the Valuation Designee performs the following functions in performing fair value determinations: assesses and manages valuation risks; establishes and applies fair value methodologies; tests fair value methodologies; and evaluates pricing vendors and pricing agents. The duties and responsibilities of the Valuation Designee are performed by its Valuation Committee. The Valuation Designee provides periodic reporting to the Board on valuation matters.

Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:

Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting date

Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads)

Level 3 – unobservable inputs (including the Valuation Designee's assumptions in determining fair value)

Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.

#### Valuation Techniques
Equity securities, including exchange-traded funds, listed or regularly traded on a securities exchange or in the over-the-counter (OTC) market are valued at the last quoted sale price or, for certain markets, the official closing price at the time the valuations are made. A security that is listed or traded on more than one exchange is valued at the quotation on the exchange determined to be the primary market for such security. Listed securities not traded on a particular day are valued at the mean of the closing bid and asked prices for domestic securities and the last quoted sale or closing price for international securities.

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T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

The last quoted prices of non-U.S. equity securities may be adjusted to reflect the fair value of such securities at the close of the NYSE, if the Valuation Designee determines that developments between the close of a foreign market and the close of the NYSE will affect the value of some or all of the fund's portfolio securities. Each business day, the Valuation Designee uses information from outside pricing services to evaluate the quoted prices of portfolio securities and, if appropriate, decide whether it is necessary to adjust quoted prices to reflect fair value by reviewing a variety of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. The Valuation Designee uses outside pricing services to provide it with quoted prices and information to evaluate or adjust those prices. The Valuation Designee cannot predict how often it will use quoted prices and how often it will determine it necessary to adjust those prices to reflect fair value.

Investments denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate, using the mean of the bid and asked prices of such currencies against U.S. dollars as provided by an outside pricing service.

Investments in mutual funds are valued at the mutual fund's closing NAV per share on the day of valuation.

Investments for which market quotations are not readily available or deemed unreliable are valued at fair value as determined in good faith by the Valuation Designee. The Valuation Designee has adopted methodologies for determining the fair value of investments for which market quotations are not readily available or deemed unreliable, including the use of other pricing sources. Factors used in determining fair value vary by type of investment and may include market or investment specific considerations. The Valuation Designee typically will afford greatest weight to actual prices in arm's length transactions, to the extent they represent orderly transactions between market participants, transaction information can be reliably obtained, and prices are deemed representative of fair value. However, the Valuation Designee may also consider other valuation methods such as market-based valuation multiples; a discount or premium from market value of a similar, freely traded security of the same issuer; discounted cash flows; yield to maturity; or some combination. Fair value determinations are reviewed on a regular basis. Because any fair value determination involves a significant amount of judgment, there is a degree of subjectivity inherent in such pricing decisions. Fair value prices determined by the Valuation Designee could differ from those of other market participants, and it is possible that the fair value determined for a security may be materially different from the value that could be realized upon the sale of that security.

#### Valuation Inputs
The following table summarizes the fund's financial instruments, based on the inputs used to determine their fair values on July 31, 2025 (for further detail by category, please refer to the accompanying Portfolio of Investments):

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total Value** |
| **Assets** |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$705 | &nbsp;&nbsp;$10252 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$10957 |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp;237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| Total | &nbsp;&nbsp;$991 | &nbsp;&nbsp;$10268 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11259 |

---

#### OTHER MATTERS
Unpredictable environmental, political, social and economic events, including but not limited to, environmental or natural disasters, war and conflict, terrorism, geopolitical and regulatory developments (including trading and tariff arrangements), and public health epidemics or threats, may significantly affect the economy and the markets and issuers in which a fund invests. The extent and duration of such events and resulting market disruptions cannot be predicted. These and other similar events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic

------

T. ROWE PRICE INTERNATIONAL EQUITY RESEARCH ETF

------

regions, countries, sectors, and industries more significantly than others, and exacerbate other pre-existing political, social, and economic risks. The fund's performance could be negatively impacted if the value of a portfolio holding were harmed by these or such events.

#### ETF1196-054Q3

#### 07/25

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** T. Rowe Price Exchange-Traded Funds, Inc.

- **b. Investment Company Act file number:** 811-23494

- **c. CIK number of Registrant:** 0001795351

- **d. LEI of Registrant:** 549300XZPUK24E1UMH17

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

  - **Street Address 1:** 1307 Point Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 410-345-2000

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

- **a. Name of Series:** T. Rowe Price International Equity Research ETF

- **b. EDGAR series identifier (if any):** S000092024

- **c. LEI of Series:** 2549000A93JD046CHJ45

**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:** $11365018.00

**Total Liabilities:** $96194.49

**Net Assets:** $11268823.51

**Cash Not Reported:** $3359.81

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259934 |  | 1.56%                | -1.38%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $147519.80                                 |
| Month 3  | $14578.36                | $-182495.93                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 3i Group PLC                                               | 3I GROUP PLC COMMON STOCK GBP.738636                       | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |       406 | NS      | $22184.70     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd                                                    | ABB LTD REG COMMON STOCK CHF.12                            | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |       588 | NS      | $38395.27     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                           | ABN AMRO BANK NV CVA DUTCH CERT EUR1.0                     | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | EC               | CORP              | NL        |       782 | NS      | $22606.40     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Abu Dhabi Commercial Bank PJSC                             | ABU DHABI COMMERCIAL BANK COMMON STOCK AED1.0              | CUSIP: 000000000<br>LEI: 213800RWVKKIRX1AUH58 | Long             | EC               | CORP              | AE        |      3386 | NS      | $14983.37     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| adidas AG                                                  | ADIDAS AG COMMON STOCK                                     | CUSIP: 000000000<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |        96 | NS      | $18348.36     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Admiral Group PLC                                          | ADMIRAL GROUP PLC COMMON STOCK GBP.001                     | CUSIP: G0110T106<br>LEI: 213800FGVM7Z9EJB2685 | Long             | EC               | CORP              | GB        |       701 | NS      | $31598.61     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Adyen NV                                                   | ADYEN NV COMMON STOCK EUR.01                               | CUSIP: N3501V104<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |        15 | NS      | $25727.26     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| AerCap Holdings NV                                         | AERCAP HOLDINGS NV COMMON STOCK EUR.01                     | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |       124 | NS      | $13299.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                                     | AGNICO EAGLE MINES LTD COMMON STOCK                        | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |       268 | NS      | $33269.83     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                                              | AIA GROUP LTD COMMON STOCK                                 | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |      4800 | NS      | $44755.99     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                                             | AIR LIQUIDE SA COMMON STOCK EUR5.5                         | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |       289 | NS      | $56856.83     | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                                  | AIRBUS SE COMMON STOCK EUR1.0                              | CUSIP: N0280G100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |       309 | NS      | $62126.01     | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Ajinomoto Co Inc                                           | AJINOMOTO CO INC COMMON STOCK                              | CUSIP: 000000000<br>LEI: 353800UT0TLROREPIC92 | Long             | EC               | CORP              | JP        |       700 | NS      | $18519.50     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                              | AL RAJHI BANK COMMON STOCK SAR10.0                         | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |      1458 | NS      | $36762.11     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcon AG                                                   | ALCON INC COMMON STOCK CHF.04                              | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |       351 | NS      | $30771.46     | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                                  | ALIBABA GROUP HOLDING LTD COMMON STOCK USD.000003125       | CUSIP: G01719114<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     10600 | NS      | $159368.51    | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard Inc                               | ALIMENTATION COUCHE TARD INC COMMON STOCK                  | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |       569 | NS      | $29566.97     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                                 | ALLIANZ SE REG COMMON STOCK                                | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |       128 | NS      | $50582.74     | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                                        | AMADEUS IT GROUP SA COMMON STOCK EUR.01                    | CUSIP: E04648114<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |       266 | NS      | $21358.14     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Amrize Ltd                                                 | AMRIZE LTD COMMON STOCK                                    | CUSIP: H2927K103<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |       176 | NS      | $8896.97      | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglo American PLC                                         | ANGLO AMERICAN PLC COMMON STOCK                            | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |       410 | NS      | $11536.62     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglogold Ashanti Plc                                      | ANGLOGOLD ASHANTI PLC COMMON STOCK                         | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |       149 | NS      | $6775.13      | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA/NV                                 | ANHEUSER BUSCH INBEV SA/NV COMMON STOCK                    | CUSIP: B639CJ108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |       486 | NS      | $27941.42     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| ANZ Group Holdings Ltd                                     | ANZ GROUP HOLDINGS LTD COMMON STOCK                        | CUSIP: 000000000<br>LEI: 9845005D9C6BAA10BK72 | Long             | EC               | CORP              | AU        |      1093 | NS      | $21448.48     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Argenx SE                                                  | ARGENX SE COMMON STOCK EUR.1                               | CUSIP: 000000000<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |        29 | NS      | $19477.24     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Aristocrat Leisure Ltd                                     | ARISTOCRAT LEISURE LTD COMMON STOCK                        | CUSIP: 000000000<br>LEI: 529900TE2HO3OZKYKC27 | Long             | EC               | CORP              | AU        |       378 | NS      | $16925.66     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Asahi Group Holdings Ltd                                   | ASAHI GROUP HOLDINGS LTD COMMON STOCK                      | CUSIP: 000000000<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |      1700 | NS      | $21566.33     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Ashtead Group PLC                                          | ASHTEAD GROUP PLC COMMON STOCK GBP.1                       | CUSIP: 000000000<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |       188 | NS      | $12560.53     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Asics Corp                                                 | ASICS CORP COMMON STOCK                                    | CUSIP: 000000000<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |      1400 | NS      | $32913.00     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International NV                                       | ASM INTERNATIONAL NV COMMON STOCK EUR.04                   | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |        30 | NS      | $14521.71     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                                            | ASML HOLDING NV COMMON STOCK EUR.09                        | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       174 | NS      | $120594.69    | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Assa Abloy AB                                              | ASSA ABLOY AB B COMMON STOCK SEK1.0                        | CUSIP: 000000000<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |       422 | NS      | $13964.08     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                            | ASTRAZENECA PLC COMMON STOCK USD.25                        | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       698 | NS      | $101832.36    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| ASX Ltd                                                    | ASX LTD COMMON STOCK                                       | CUSIP: 000000000<br>LEI: 549300VSBVYUCBIQKT71 | Long             | EC               | CORP              | AU        |       372 | NS      | $16674.56     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                                             | ATLAS COPCO AB A SHS COMMON STOCK SEK.16                   | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |      1818 | NS      | $27685.20     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Auto Trader Group PLC                                      | AUTO TRADER GROUP PLC COMMON STOCK GBP.01                  | CUSIP: 000000000<br>LEI: 213800QLK9BZILB1DI86 | Long             | EC               | CORP              | GB        |      1117 | NS      | $12331.45     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Aviva PLC                                                  | AVIVA PLC COMMON STOCK GBP.3289474                         | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |      5785 | NS      | $49427.06     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| AXA SA                                                     | AXA SA COMMON STOCK EUR2.29                                | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |       403 | NS      | $19573.36     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Axis Bank Ltd                                              | AXIS BANK LTD  GDR REG S GDR                               | CUSIP: 05462W109<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |       313 | NS      | $18985.51     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE Systems PLC                                            | BAE SYSTEMS PLC COMMON STOCK GBP.025                       | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |      1353 | NS      | $32283.42     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                         | BANCO BILBAO VIZCAYA ARGENTA COMMON STOCK EUR.49           | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |       702 | NS      | $11708.14     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                                         | BANCO SANTANDER SA COMMON STOCK EUR.5                      | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |      3890 | NS      | $33418.14     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                                   | BANK CENTRAL ASIA TBK PT COMMON STOCK IDR12.5              | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |     55200 | NS      | $27665.99     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Mandiri Persero Tbk PT                                | BANK MANDIRI PERSERO TBK PT COMMON STOCK IDR125.0          | CUSIP: 000000000<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | EC               | CORP              | ID        |     40600 | NS      | $11052.57     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Polska Kasa Opieki SA                                 | BANK PEKAO SA COMMON STOCK PLN1.0                          | CUSIP: 000000000<br>LEI: 5493000LKS7B3UTF7H35 | Long             | EC               | CORP              | PL        |       314 | NS      | $17051.25     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT                       | BANK RAKYAT INDONESIA PERSER COMMON STOCK IDR50.0          | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |     66900 | NS      | $14980.95     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays PLC                                               | BARCLAYS PLC COMMON STOCK GBP.25                           | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |     10806 | NS      | $52819.92     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                                                    | BASF SE COMMON STOCK                                       | CUSIP: 000000000<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |       428 | NS      | $20976.01     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| BAWAG Group AG                                             | BAWAG GROUP AG COMMON STOCK                                | CUSIP: 000000000<br>LEI: 529900S9YO2JHTIIDG38 | Long             | EC               | CORP              | AT        |       359 | NS      | $45308.47     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer AG                                                   | BAYER AG REG COMMON STOCK                                  | CUSIP: D0712D163<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |       367 | NS      | $11414.33     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| BDO Unibank Inc                                            | BDO UNIBANK INC COMMON STOCK PHP10.0                       | CUSIP: 000000000<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |      8610 | NS      | $21018.08     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Beiersdorf AG                                              | BEIERSDORF AG COMMON STOCK                                 | CUSIP: 000000000<br>LEI: L47NHHI0Z9X22DV46U41 | Long             | EC               | CORP              | DE        |       141 | NS      | $17520.96     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BeOne Medicines Ltd                                        | BEONE MEDICINES LTD H COMMON STOCK USD.0001                | CUSIP: 000000000<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |       800 | NS      | $18187.53     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                                              | BHP GROUP LTD COMMON STOCK                                 | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      2196 | NS      | $55460.45     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| BlueScope Steel Ltd                                        | BLUESCOPE STEEL LTD COMMON STOCK                           | CUSIP: 000000000<br>LEI: 529900H6UQI16XACWC95 | Long             | EC               | CORP              | AU        |       555 | NS      | $8413.96      | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | BNP PARIBAS COMMON STOCK EUR2.0                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |       429 | NS      | $39115.46     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| BP PLC                                                     | BP PLC COMMON STOCK USD.25                                 | CUSIP: G12793108<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |      6110 | NS      | $32751.31     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Brambles Ltd                                               | BRAMBLES LTD COMMON STOCK                                  | CUSIP: Q6634U106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      1139 | NS      | $17426.06     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Bridgestone Corp                                           | BRIDGESTONE CORP COMMON STOCK                              | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |       600 | NS      | $24270.10     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco PLC                               | BRITISH AMERICAN TOBACCO PLC COMMON STOCK GBP.25           | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |       442 | NS      | $23681.18     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Corp                                            | BROOKFIELD CORP COMMON STOCK                               | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |       727 | NS      | $48695.78     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| BT Group PLC                                               | BT GROUP PLC COMMON STOCK GBP.05                           | CUSIP: 000000000<br>LEI: 213800LRO7NS5CYQMN21 | Long             | EC               | CORP              | GB        |      7056 | NS      | $19270.20     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                                 | BYD CO LTD  A COMMON STOCK CNY1.0                          | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |      1800 | NS      | $26109.95     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Cameco Corp                                                | CAMECO CORP COMMON STOCK                                   | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |       148 | NS      | $11111.75     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian National Railway Co                               | CANADIAN NATL RAILWAY CO COMMON STOCK                      | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |       428 | NS      | $39964.38     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd                             | CANADIAN NATURAL RESOURCES COMMON STOCK                    | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |      1142 | NS      | $36149.05     | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Pacific Kansas City Ltd                           | CANADIAN PACIFIC KANSAS CITY COMMON STOCK                  | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       591 | NS      | $43463.41     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Tire Corp Ltd                                     | CANADIAN TIRE CORP CLASS A COMMON STOCK                    | CUSIP: 136681202<br>LEI: 549300RLHDA7VQYMUB14 | Long             | EC               | CORP              | CA        |        99 | NS      | $13259.54     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Integrated Commercial Trust                     | CAPITALAND INTEGRATED COMMER REIT                          | CUSIP: 000000000<br>LEI: 54930031292WUTXF0L29 | Long             | EC               | CORP              | SG        |     10000 | NS      | $16884.60     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitec Bank Holdings Ltd                                  | CAPITEC BANK HOLDINGS LTD COMMON STOCK ZAR.01              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |        83 | NS      | $16089.42     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Capstone Copper Corp                                       | CAPSTONE COPPER CORP COMMON STOCK                          | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |      1958 | NS      | $10979.84     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                                         | CELLNEX TELECOM SA COMMON STOCK EUR.25                     | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |       320 | NS      | $11292.65     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| China Construction Bank Corp                               | CHINA CONSTRUCTION BANK H COMMON STOCK CNY1.0              | CUSIP: 000000000<br>LEI: 5493001KQW6DM7KEDR62 | Long             | EC               | CORP              | CN        |     65000 | NS      | $66482.21     | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| China Merchants Bank Co Ltd                                | CHINA MERCHANTS BANK H COMMON STOCK CNY1.0                 | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |      7000 | NS      | $45424.00     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| China Pacific Insurance Group Co Ltd                       | CHINA PACIFIC INSURANCE GR H COMMON STOCK CNY1.0           | CUSIP: 000000000<br>LEI: 529900BA5ILEL308WX03 | Long             | EC               | CORP              | CN        |     12400 | NS      | $49939.96     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd                               | CHUGAI PHARMACEUTICAL CO LTD COMMON STOCK                  | CUSIP: 000000000<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |       800 | NS      | $38349.54     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Chunghwa Telecom Co Ltd                                    | CHUNGHWA TELECOM LT SPON ADR ADR                           | CUSIP: 17133Q502<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |       318 | NS      | $13801.20     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                                | CIE FINANCIERE RICHEMO A REG COMMON STOCK CHF1.0           | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |       261 | NS      | $42615.08     | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| CIMB Group Holdings Bhd                                    | CIMB GROUP HOLDINGS BHD COMMON STOCK                       | CUSIP: 000000000<br>LEI: 549300FYDN5UD7USZW18 | Long             | EC               | CORP              | MY        |     10500 | NS      | $16050.47     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                             | COMMONWEALTH BANK OF AUSTRAL COMMON STOCK                  | CUSIP: 000000000<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | EC               | CORP              | AU        |       414 | NS      | $47001.22     | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                                     | COMPAGNIE DE SAINT GOBAIN COMMON STOCK EUR4.0              | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |       231 | NS      | $26499.64     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Group PLC                                          | COMPASS GROUP PLC COMMON STOCK GBP.1105                    | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |       939 | NS      | $32995.96     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Constellation Software Inc/Canada                          | CONSTELLATION SOFTWARE INC COMMON STOCK                    | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |        12 | NS      | $41399.65     | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Coupang Inc                                                | COUPANG INC COMMON STOCK USD.0001                          | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |       519 | NS      | $15274.17     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                                              | CREDICORP LTD COMMON STOCK USD5.0                          | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |        64 | NS      | $15168.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CRRC Corp Ltd                                              | CRRC CORP LTD H COMMON STOCK CNY1.0                        | CUSIP: 000000000<br>LEI: 30030099HATQH2XC0B72 | Long             | EC               | CORP              | CN        |     27000 | NS      | $18709.85     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| CSL Ltd                                                    | CSL LTD COMMON STOCK                                       | CUSIP: Q3018U109<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |       226 | NS      | $39094.43     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| CTBC Financial Holding Co Ltd                              | CTBC FINANCIAL HOLDING CO LT COMMON STOCK TWD10.0          | CUSIP: 000000000<br>LEI: 549300IWDYIFW6JXM387 | Long             | EC               | CORP              | TW        |      9000 | NS      | $12366.87     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| CVC Capital Partners PLC                                   | CVC CAPITAL PARTNERS PLC COMMON STOCK                      | CUSIP: 000000000<br>LEI: 213800E8UQS1KA32YD39 | Long             | EC               | CORP              | JE        |       600 | NS      | $11505.49     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CyberArk Software Ltd                                      | CYBERARK SOFTWARE LTD/ISRAEL COMMON STOCK ILS.01           | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |        41 | NS      | $16870.27     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                                  | DANONE COMMON STOCK EUR.25                                 | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |       314 | NS      | $25696.75     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Systemes SE                                       | DASSAULT SYSTEMES SE COMMON STOCK EUR.1                    | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |       497 | NS      | $16327.06     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Davide Campari-Milano NV                                   | DAVIDE CAMPARI MILANO NV COMMON STOCK EUR.01               | CUSIP: 000000000<br>LEI: 213800ED5AN2J56N6Z02 | Long             | EC               | CORP              | NL        |      1581 | NS      | $10889.66     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd                                     | DBS GROUP HOLDINGS LTD COMMON STOCK                        | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |      1100 | NS      | $40374.92     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Definity Financial Corp                                    | DEFINITY FINANCIAL CORP COMMON STOCK                       | CUSIP: 24477T100<br>LEI: 984500D5F3FC49D00C44 | Long             | EC               | CORP              | CA        |       210 | NS      | $11313.87     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc                                      | DELTA ELECTRONICS INC COMMON STOCK TWD10.0                 | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |      2000 | NS      | $37676.19     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Denso Corp                                                 | DENSO CORP COMMON STOCK                                    | CUSIP: 000000000<br>LEI: 549300RYPA10CQM3QK38 | Long             | EC               | CORP              | JP        |      1400 | NS      | $18994.39     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                                         | DEUTSCHE BOERSE AG COMMON STOCK                            | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |        80 | NS      | $23150.98     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                        | DEUTSCHE TELEKOM AG REG COMMON STOCK                       | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |      2207 | NS      | $79156.04     | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Post AG                                           | DHL GROUP COMMON STOCK                                     | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |       323 | NS      | $14472.25     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Diageo PLC                                                 | DIAGEO PLC COMMON STOCK GBP.2893518                        | CUSIP: G42089113<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |       646 | NS      | $15657.45     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Disco Corp                                                 | DISCO CORP COMMON STOCK                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       100 | NS      | $29552.65     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                               | DNB BANK ASA COMMON STOCK NOK12.5                          | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |      1284 | NS      | $32484.86     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Downer EDI Ltd                                             | DOWNER EDI LTD COMMON STOCK                                | CUSIP: 000000000<br>LEI: 254900DIW3F7OMWAO951 | Long             | EC               | CORP              | AU        |      4811 | NS      | $21214.69     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| DSM-Firmenich AG                                           | DSM FIRMENICH AG COMMON STOCK EUR.01                       | CUSIP: 000000000<br>LEI: 506700G44V67MPM4BI12 | Long             | EC               | CORP              | CH        |        84 | NS      | $8070.68      | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| DSV A/S                                                    | DSV A/S COMMON STOCK DKK1.0                                | CUSIP: 000000000<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |        97 | NS      | $21736.24     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                                                    | E.ON SE COMMON STOCK                                       | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |       646 | NS      | $11785.13     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| E.Sun Financial Holding Co Ltd                             | E.SUN FINANCIAL HOLDING CO COMMON STOCK TWD10.0            | CUSIP: 000000000<br>LEI: 549300X6CNQE512OPC90 | Long             | EC               | CORP              | TW        |     11110 | NS      | $11882.07     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp                              | ELEMENT FLEET MANAGEMENT COR COMMON STOCK                  | CUSIP: 286181201<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |       666 | NS      | $17322.92     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Elite Material Co Ltd                                      | ELITE MATERIAL CO LTD COMMON STOCK TWD10.0                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      1000 | NS      | $36656.61     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Properties PJSC                                      | EMAAR PROPERTIES PJSC COMMON STOCK AED1.0                  | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |      4087 | NS      | $16925.50     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Enbridge Inc                                               | ENBRIDGE INC COMMON STOCK                                  | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |       819 | NS      | $37090.25     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Enel SpA                                                   | ENEL SPA COMMON STOCK EUR1.0                               | CUSIP: T3679P115<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |      4383 | NS      | $38650.54     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                                   | ENGIE COMMON STOCK EUR1.0                                  | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |       725 | NS      | $16296.71     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT AB                                                     | EQT AB COMMON STOCK SEK.1                                  | CUSIP: 000000000<br>LEI: 213800U7P9GOIRKCTB34 | Long             | EC               | CORP              | SE        |       352 | NS      | $11765.28     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                            | ERICSSON LM B SHS COMMON STOCK SEK5.0                      | CUSIP: 000000000<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |      1757 | NS      | $12762.11     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG                                        | ERSTE GROUP BANK AG COMMON STOCK                           | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |       268 | NS      | $24506.96     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| EssilorLuxottica SA                                        | ESSILORLUXOTTICA COMMON STOCK EUR.18                       | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |       107 | NS      | $31816.92     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Essity AB                                                  | ESSITY AKTIEBOLAG B COMMON STOCK SEK3.35                   | CUSIP: 000000000<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |       439 | NS      | $10824.65     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext NV                                                | EURONEXT NV COMMON STOCK EUR1.6                            | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |        70 | NS      | $11283.22     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                                               | EXPERIAN PLC COMMON STOCK USD.1                            | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | JE        |       478 | NS      | $25186.17     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrari NV                                                 | FERRARI NV COMMON STOCK EUR.01                             | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |        77 | NS      | $33765.06     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| FirstRand Ltd                                              | FIRSTRAND LTD COMMON STOCK ZAR.01                          | CUSIP: 000000000<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |      3624 | NS      | $15389.53     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Food & Life Cos Ltd                                        | FOOD + LIFE COMPANIES LTD COMMON STOCK                     | CUSIP: 000000000<br>LEI: 529900CWF7GCVZKS5M87 | Long             | EC               | CORP              | JP        |       300 | NS      | $15109.92     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortescue Ltd                                              | FORTESCUE LTD COMMON STOCK                                 | CUSIP: Q39360104<br>LEI: 529900VEJFORCO6I4826 | Long             | EC               | CORP              | AU        |      1048 | NS      | $11857.34     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Franco-Nevada Corp                                         | FRANCO NEVADA CORP COMMON STOCK                            | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |       126 | NS      | $20071.25     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresenius SE & Co KGaA                                     | FRESENIUS SE + CO KGAA COMMON STOCK                        | CUSIP: 000000000<br>LEI: XDFJ0CYCOO1FXRFTQS51 | Long             | EC               | CORP              | DE        |       315 | NS      | $15035.14     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJIFILM Holdings Corp                                     | FUJIFILM HOLDINGS CORP COMMON STOCK                        | CUSIP: 000000000<br>LEI: 529900UBKMFM0ST6H474 | Long             | EC               | CORP              | JP        |       800 | NS      | $16593.78     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Fujitsu Ltd                                                | FUJITSU LIMITED COMMON STOCK                               | CUSIP: 000000000<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |       800 | NS      | $17427.13     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Galderma Group AG                                          | GALDERMA GROUP AG COMMON STOCK CHF.01                      | CUSIP: 000000000<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |        87 | NS      | $13408.27     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Galp Energia SGPS SA                                       | GALP ENERGIA SGPS SA COMMON STOCK EUR1.0                   | CUSIP: 000000000<br>LEI: 2138003319Y7NM75FG53 | Long             | EC               | CORP              | PT        |      1641 | NS      | $31335.28     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Generali                                                   | GENERALI COMMON STOCK                                      | CUSIP: 000000000<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |       682 | NS      | $25442.53     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Givaudan SA                                                | GIVAUDAN REG COMMON STOCK CHF10.0                          | CUSIP: H3238Q102<br>LEI: 213800SVRMQA1TD91D41 | Long             | EC               | CORP              | CH        |         3 | NS      | $12541.04     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                                               | GLENCORE PLC COMMON STOCK USD.01                           | CUSIP: G39420107<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |      3880 | NS      | $15571.69     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                                            | GOLD FIELDS LTD COMMON STOCK ZAR.5                         | CUSIP: 000000000<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |       709 | NS      | $17290.33     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Goodman Group                                              | GOODMAN GROUP REIT                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      1160 | NS      | $25935.82     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Great-West Lifeco Inc                                      | GREAT WEST LIFECO INC COMMON STOCK                         | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |       942 | NS      | $35372.59     | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Mexico SAB de CV                                     | GRUPO MEXICO SAB DE CV SER B COMMON STOCK                  | CUSIP: 000000000<br>LEI: 529900JWLZAYET2ZGW20 | Long             | EC               | CORP              | MX        |      2754 | NS      | $17180.93     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK PLC                                                    | GSK PLC COMMON STOCK GBP.3125                              | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |      1402 | NS      | $25788.37     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon PLC                                                 | HALEON PLC COMMON STOCK GBP.01                             | CUSIP: 000000000<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |      2041 | NS      | $9573.65      | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Hamamatsu Photonics KK                                     | HAMAMATSU PHOTONICS KK COMMON STOCK                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1000 | NS      | $12205.09     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Hannover Rueck SE                                          | HANNOVER RUECK SE COMMON STOCK                             | CUSIP: 000000000<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |        62 | NS      | $18807.29     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Marine Solution Co Ltd                          | HD HYUNDAI MARINE SOLUTION C COMMON STOCK KRW500.0         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       268 | NS      | $39198.70     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                              | HDFC BANK LTD ADR ADR                                      | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |       725 | NS      | $55658.25     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Holding NV                                        | HEINEKEN HOLDING NV COMMON STOCK EUR1.6                    | CUSIP: N39338194<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |       375 | NS      | $25309.16     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Hermes International SCA                                   | HERMES INTERNATIONAL COMMON STOCK                          | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |        14 | NS      | $34236.83     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Hiscox Ltd                                                 | HISCOX LTD COMMON STOCK GBP.065                            | CUSIP: 000000000<br>LEI: 5493007JXOLJ0QCY2D70 | Long             | EC               | CORP              | BM        |       920 | NS      | $15663.25     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd                                                | HITACHI LTD COMMON STOCK                                   | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |      2900 | NS      | $88741.87     | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Holcim AG                                                  | HOLCIM LTD COMMON STOCK CHF2.0                             | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |       205 | NS      | $16348.73     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd                          | HON HAI PRECISION GDR REG S GDR                            | CUSIP: 438090805<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |      3254 | NS      | $37868.88     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd                         | HONG KONG EXCHANGES + CLEAR COMMON STOCK                   | CUSIP: Y3506N139<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |       400 | NS      | $21647.52     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Hongfa Technology Co Ltd                                   | HONGFA TECHNOLOGY CO LTD A COMMON STOCK CNY1.0             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      3500 | NS      | $11884.33     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                          | HSBC HOLDINGS PLC COMMON STOCK USD.5                       | CUSIP: G4634U169<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |      4046 | NS      | $49292.30     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                                               | IBERDROLA SA COMMON STOCK EUR.75                           | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |      2784 | NS      | $48932.46     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                                             | ICICI BANK LTD SPON ADR ADR                                | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      2261 | NS      | $76195.70     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC                                        | IMPERIAL BRANDS PLC COMMON STOCK GBP.1                     | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |       878 | NS      | $34223.90     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Industrial & Commercial Bank of China Ltd                  | IND + COMM BK OF CHINA H COMMON STOCK CNY1.0               | CUSIP: 000000000<br>LEI: 5493002ERZU2K9PZDL40 | Long             | EC               | CORP              | CN        |     46000 | NS      | $35246.34     | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria de Diseno Textil SA                              | INDUSTRIA DE DISENO TEXTIL COMMON STOCK EUR.03             | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |       401 | NS      | $19154.58     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                                   | INFINEON TECHNOLOGIES AG COMMON STOCK                      | CUSIP: D35415104<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |       746 | NS      | $29305.20     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Informa PLC                                                | INFORMA PLC COMMON STOCK GBP.001                           | CUSIP: 000000000<br>LEI: 5493006VM2LKUPSEDU20 | Long             | EC               | CORP              | GB        |      1981 | NS      | $22652.82     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Infosys Ltd                                                | INFOSYS LTD SP ADR ADR                                     | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |      2271 | NS      | $37971.12     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                               | ING GROEP NV COMMON STOCK EUR.01                           | CUSIP: N4578E595<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |      1856 | NS      | $43254.87     | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                        | INTESA SANPAOLO COMMON STOCK                               | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |      2966 | NS      | $17870.92     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| International Container Terminal Services Inc              | INTL CONTAINER TERM SVCS INC COMMON STOCK PHP1.0           | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |      3710 | NS      | $28486.91     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Investor AB                                                | INVESTOR AB B SHS COMMON STOCK SEK6.25                     | CUSIP: W5R777115<br>LEI: 549300VEBQPHRZBKUX38 | Long             | EC               | CORP              | SE        |       591 | NS      | $17126.90     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Isetan Mitsukoshi Holdings Ltd                             | ISETAN MITSUKOSHI HOLDINGS L COMMON STOCK                  | CUSIP: 000000000<br>LEI: 529900SY5RZO92EFG035 | Long             | EC               | CORP              | JP        |       700 | NS      | $9892.73      | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares MSCI India ETF                                     | ISHARES MSCI INDIA ETF ISHARES MSCI INDIA ETF              | CUSIP: 46429B598<br>LEI: 549300282VMCFH7S5848 | Long             | EC               | RF                | US        |      4514 | NS      | $237616.96    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                                   | ITAU UNIBANCO H SPON PRF ADR ADR                           | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |      4310 | NS      | $27023.70     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp                                                | ITOCHU CORP COMMON STOCK                                   | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |       600 | NS      | $31471.56     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Ivanhoe Mines Ltd                                          | IVANHOE MINES LTD CL A COMMON STOCK                        | CUSIP: 46579R104<br>LEI: 5299006XZISURYIA4G32 | Long             | EC               | CORP              | CA        |      1189 | NS      | $9276.19      | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Bank Co Ltd                                     | JAPAN POST BANK CO LTD COMMON STOCK                        | CUSIP: 000000000<br>LEI: 5493006JVO6N2HC2XZ76 | Long             | EC               | CORP              | JP        |      1200 | NS      | $13393.55     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Prime Realty Investment Corp                         | JAPAN PRIME REALTY INVESTMEN REIT                          | CUSIP: 000000000<br>LEI: 353800NJOQJAY1ODEX72 | Long             | EC               | CORP              | JP        |        23 | NS      | $15109.57     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Tobacco Inc                                          | JAPAN TOBACCO INC COMMON STOCK                             | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |       500 | NS      | $14279.81     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Jeronimo Martins SGPS SA                                   | JERONIMO MARTINS COMMON STOCK EUR1.0                       | CUSIP: 000000000<br>LEI: 259400A8SZP10GB5IB19 | Long             | EC               | CORP              | PT        |       426 | NS      | $10384.88     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Jiangsu Hengrui Pharmaceuticals Co Ltd                     | JIANGSU HENGRUI PHARMACEUT H COMMON STOCK CNY1.0           | CUSIP: 000000000<br>LEI: 2549003BT1XS3SE3E448 | Long             | EC               | CORP              | CN        |      2000 | NS      | $20089.17     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Julius Baer Group Ltd                                      | JULIUS BAER GROUP LTD COMMON STOCK CHF.02                  | CUSIP: 000000000<br>LEI: 5299007MF0604ZGJER92 | Long             | EC               | CORP              | CH        |       205 | NS      | $13871.17     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Kajima Corp                                                | KAJIMA CORP COMMON STOCK                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       700 | NS      | $17535.46     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc                                     | KB FINANCIAL GROUP INC ADR ADR                             | CUSIP: 48241A105<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |       261 | NS      | $20658.15     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp                                                  | KDDI CORP COMMON STOCK                                     | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |      1900 | NS      | $31182.04     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                                               | KEYENCE CORP COMMON STOCK                                  | CUSIP: J32491102<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |       100 | NS      | $36173.13     | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingspan Group PLC                                         | KINGSPAN GROUP PLC COMMON STOCK EUR.13                     | CUSIP: 000000000<br>LEI: 635400HM7V74SUB9OG75 | Long             | EC               | CORP              | IE        |       167 | NS      | $13859.64     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                              | KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK EUR.01           | CUSIP: 500468103<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |       520 | NS      | $20538.13     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                                         | KONINKLIJKE KPN NV COMMON STOCK EUR.04                     | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |      2777 | NS      | $12406.24     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyocera Corp                                               | KYOCERA CORP COMMON STOCK                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1000 | NS      | $11804.37     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyushu Railway Co                                          | KYUSHU RAILWAY COMPANY COMMON STOCK                        | CUSIP: 000000000<br>LEI: 5299002CCI6HLWAN3K50 | Long             | EC               | CORP              | JP        |      1100 | NS      | $26600.99     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| L Oreal SA                                                 | L OREAL COMMON STOCK EUR.2                                 | CUSIP: F58149133<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |        90 | NS      | $39823.47     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Larsen & Toubro Ltd                                        | LARSEN + TOUBRO GDR REG S GDR                              | CUSIP: 000000000<br>LEI: 3358003FR3JIC5FRXA90 | Long             | EC               | CORP              | IN        |       701 | NS      | $28644.17     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                                 | LEGRAND SA COMMON STOCK EUR4.0                             | CUSIP: F56196185<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |       172 | NS      | $25405.55     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Leonardo SpA                                               | LEONARDO SPA COMMON STOCK                                  | CUSIP: 000000000<br>LEI: 529900X4EEX1U9LN3U39 | Long             | EC               | CORP              | IT        |       185 | NS      | $9972.07      | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| LG Chem Ltd                                                | LG CHEM LTD COMMON STOCK KRW5000.0                         | CUSIP: 000000000<br>LEI: 988400IES4EIG7O06940 | Long             | EC               | CORP              | KR        |       152 | NS      | $32680.74     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                   | LLOYDS BANKING GROUP PLC COMMON STOCK GBP.1                | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EC               | CORP              | GB        |     39126 | NS      | $40121.66     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| London Stock Exchange Group PLC                            | LONDON STOCK EXCHANGE GROUP COMMON STOCK GBP.06918605      | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |       244 | NS      | $29742.37     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Lonza Group AG                                             | LONZA GROUP AG REG COMMON STOCK CHF1.0                     | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |        22 | NS      | $15333.32     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE                        | LVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3            | CUSIP: F58485115<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |       120 | NS      | $64417.41     | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd                                        | MACQUARIE GROUP LTD COMMON STOCK                           | CUSIP: 000000000<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |       159 | NS      | $22019.18     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd                                    | MAHINDRA + MAHINDRA SPON GDR GDR                           | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |       484 | NS      | $17462.07     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Mandatum Oyj                                               | MANDATUM OYJ COMMON STOCK                                  | CUSIP: 000000000<br>LEI: 743700OAJK6L28Y2NN56 | Long             | EC               | CORP              | FI        |      4143 | NS      | $28102.42     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Manulife Financial Corp                                    | MANULIFE FINANCIAL CORP COMMON STOCK                       | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |       683 | NS      | $21131.79     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Maple Leaf Foods Inc                                       | MAPLE LEAF FOODS INC COMMON STOCK                          | CUSIP: 564905107<br>LEI: 549300LX07S5J8F76F37 | Long             | EC               | CORP              | CA        |       563 | NS      | $11880.86     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| MatsukiyoCocokara & Co                                     | MATSUKIYOCOCOKARA + CO COMMON STOCK                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       800 | NS      | $16427.74     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                               | MEDIATEK INC COMMON STOCK TWD10.0                          | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |      1000 | NS      | $45284.56     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Medibank Pvt Ltd                                           | MEDIBANK PRIVATE LTD COMMON STOCK                          | CUSIP: 000000000<br>LEI: BDYVSUPTML83OLINBJ17 | Long             | EC               | CORP              | AU        |      4758 | NS      | $15551.06     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercari Inc                                                | MERCARI INC COMMON STOCK                                   | CUSIP: 000000000<br>LEI: 3538009SK4V5AXSTUJ26 | Long             | EC               | CORP              | JP        |      1100 | NS      | $16782.57     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                     | MERCEDES BENZ GROUP AG COMMON STOCK                        | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |       227 | NS      | $12852.79     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA               | MICHELIN (CGDE) COMMON STOCK EUR.5                         | CUSIP: 000000000<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |       398 | NS      | $14159.43     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Chemical Group Corp                             | MITSUBISHI CHEMICAL GROUP CO COMMON STOCK                  | CUSIP: 000000000<br>LEI: 353800YNKX4RQUGAR072 | Long             | EC               | CORP              | JP        |      2000 | NS      | $10893.54     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Corp                                            | MITSUBISHI CORP COMMON STOCK                               | CUSIP: 000000000<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |      1100 | NS      | $21695.71     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Electric Corp                                   | MITSUBISHI ELECTRIC CORP COMMON STOCK                      | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |      1800 | NS      | $40486.03     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Estate Co Ltd                                   | MITSUBISHI ESTATE CO LTD COMMON STOCK                      | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |      1700 | NS      | $31828.10     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc                         | MITSUBISHI UFJ FINANCIAL GRO COMMON STOCK                  | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |      6400 | NS      | $88209.72     | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd                                      | MITSUI FUDOSAN CO LTD COMMON STOCK                         | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |      1800 | NS      | $16088.94     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group Inc                                 | MIZUHO FINANCIAL GROUP INC COMMON STOCK                    | CUSIP: 000000000<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |       500 | NS      | $14665.83     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | MUENCHENER RUECKVER AG REG COMMON STOCK                    | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |        72 | NS      | $47136.29     | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Naspers Ltd                                                | NASPERS LTD N SHS COMMON STOCK ZAR.02                      | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |        89 | NS      | $27472.71     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd                                | NATIONAL AUSTRALIA BANK LTD COMMON STOCK                   | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | EC               | CORP              | AU        |       973 | NS      | $24146.60     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Canada                                    | NATIONAL BANK OF CANADA COMMON STOCK                       | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |       919 | NS      | $95594.31     | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Kuwait SAKP                               | NATIONAL BANK OF KUWAIT COMMON STOCK KWD.1                 | CUSIP: 000000000<br>LEI: 549300NB7FE83IH6BW96 | Long             | EC               | CORP              | KW        |      6064 | NS      | $20755.71     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC                                          | NATIONAL GRID PLC COMMON STOCK GBP.1243129                 | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |      3008 | NS      | $42268.63     | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| NEC Corp                                                   | NEC CORP COMMON STOCK                                      | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |      1100 | NS      | $31587.46     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                                  | NESTLE SA REG COMMON STOCK CHF.1                           | CUSIP: H57312649<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |      1000 | NS      | $87377.06     | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| NetEase Inc                                                | NETEASE INC COMMON STOCK USD.0001                          | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |      1400 | NS      | $36599.14     | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co Ltd                                            | NINTENDO CO LTD COMMON STOCK                               | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |       600 | NS      | $50147.33     | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Sanso Holdings Corp                                 | NIPPON SANSO HOLDINGS CORP COMMON STOCK                    | CUSIP: 000000000<br>LEI: 353800F1K6653B4VPY57 | Long             | EC               | CORP              | JP        |       800 | NS      | $28314.82     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Steel Corp                                          | NIPPON STEEL CORP COMMON STOCK                             | CUSIP: 000000000<br>LEI: 35380065QWQ4U2V3PA33 | Long             | EC               | CORP              | JP        |      1600 | NS      | $30812.82     | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd                                | NORTHERN STAR RESOURCES LTD COMMON STOCK                   | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |      1339 | NS      | $13303.40     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                                | NOVARTIS AG REG COMMON STOCK CHF.49                        | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |       723 | NS      | $82340.34     | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                                           | NOVO NORDISK A/S B COMMON STOCK DKK.1                      | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |      1292 | NS      | $60088.29     | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Novonesis Novozymes B                                      | NOVONESIS (NOVOZYMES) B COMMON STOCK DKK2.0                | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |       263 | NS      | $17015.45     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                             | NU HOLDINGS LTD/CAYMAN ISL A COMMON STOCK USD.000006667    | CUSIP: G6683N103<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |      1900 | NS      | $23218.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                                                | NUTRIEN LTD COMMON STOCK                                   | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |       271 | NS      | $16078.89     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Open House Group Co Ltd                                    | OPEN HOUSE GROUP CO LTD COMMON STOCK                       | CUSIP: 000000000<br>LEI: 529900WQOGPBIJEHW865 | Long             | EC               | CORP              | JP        |       600 | NS      | $26532.25     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Orange SA                                                  | ORANGE COMMON STOCK EUR4.0                                 | CUSIP: F6866T100<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |       974 | NS      | $14815.58     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIX Corp                                                  | ORIX CORP COMMON STOCK                                     | CUSIP: 000000000<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |      1100 | NS      | $24709.35     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Otsuka Holdings Co Ltd                                     | OTSUKA HOLDINGS CO LTD COMMON STOCK                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       300 | NS      | $14282.91     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Oversea-Chinese Banking Corp Ltd                           | OVERSEA CHINESE BANKING CORP COMMON STOCK                  | CUSIP: 000000000<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |      1000 | NS      | $12959.16     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Partners Group Holding AG                                  | PARTNERS GROUP HOLDING AG COMMON STOCK CHF.01              | CUSIP: 000000000<br>LEI: 549300I3IVVWZWDHI788 | Long             | EC               | CORP              | CH        |        23 | NS      | $30918.82     | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| PDD Holdings Inc                                           | PDD HOLDINGS INC ADR USD.00002                             | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |       452 | NS      | $51279.40     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras                         | PETROLEO BRASILEIRO SPON ADR ADR                           | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |      2058 | NS      | $26218.92     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                                                  | PROSUS NV COMMON STOCK EUR.05                              | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |       564 | NS      | $32218.91     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Qatar National Bank QPSC                                   | QATAR NATIONAL BANK COMMON STOCK QAR1.0                    | CUSIP: 000000000<br>LEI: 549300FFSRVBS0SQXY75 | Long             | EC               | CORP              | QA        |      4061 | NS      | $20892.33     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group PLC                                | RECKITT BENCKISER GROUP PLC COMMON STOCK GBP.1             | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |       167 | NS      | $12515.94     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Redeia Corp SA                                             | REDEIA CORP SA COMMON STOCK EUR.5                          | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |       537 | NS      | $10410.27     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd                                    | RELIANCE INDS SPONS GDR 144A GDR                           | CUSIP: 759470107<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |       682 | NS      | $42929.69     | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                                                   | RELX PLC COMMON STOCK GBP.00144397                         | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |      1060 | NS      | $55078.74     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Renesas Electronics Corp                                   | RENESAS ELECTRONICS CORP COMMON STOCK                      | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |      2000 | NS      | $24326.11     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ResMed Inc                                                 | RESMED INC COMMON STOCK USD.004                            | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |        89 | NS      | $24202.66     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Resona Holdings Inc                                        | RESONA HOLDINGS INC COMMON STOCK                           | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |      3000 | NS      | $27312.00     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                                             | RHEINMETALL AG COMMON STOCK                                | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |        23 | NS      | $45528.40     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                                              | RIO TINTO PLC COMMON STOCK GBP.1                           | CUSIP: G75754104<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |       591 | NS      | $35199.60     | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                           | ROCHE HOLDING AG GENUSSCHEIN COMMON STOCK                  | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |       270 | NS      | $84259.72     | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings PLC                                   | ROLLS ROYCE HOLDINGS PLC COMMON STOCK GBP.2                | CUSIP: 000000000<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |      4627 | NS      | $65670.87     | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                       | ROYAL BANK OF CANADA COMMON STOCK                          | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |       548 | NS      | $70315.33     | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC                                       | RYANAIR HOLDINGS PLC COMMON STOCK EUR.006                  | CUSIP: 000000000<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |       529 | NS      | $15554.02     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Saab AB                                                    | SAAB AB B COMMON STOCK                                     | CUSIP: 000000000<br>LEI: 549300ZHO4JCQQI13M69 | Long             | EC               | CORP              | SE        |       236 | NS      | $12836.98     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Safran SA                                                  | SAFRAN SA COMMON STOCK EUR.2                               | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |       181 | NS      | $59684.96     | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Sampo Oyj                                                  | SAMPO OYJ A SHS COMMON STOCK                               | CUSIP: 000000000<br>LEI: 743700UF3RL386WIDA22 | Long             | EC               | CORP              | FI        |      3871 | NS      | $41550.03     | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                                 | SAMSUNG ELECTR GDR REG S GDR                               | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |       120 | NS      | $150164.39    | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Heavy Industries Co Ltd                            | SAMSUNG HEAVY INDUSTRIES COMMON STOCK KRW1000.0            | CUSIP: 000000000<br>LEI: 988400OSK0T9LDTWNC20 | Long             | EC               | CORP              | KR        |      1285 | NS      | $17539.50     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandvik AB                                                 | SANDVIK AB COMMON STOCK SEK1.2                             | CUSIP: 000000000<br>LEI: 5299008ZUAXN43LVZF54 | Long             | EC               | CORP              | SE        |       672 | NS      | $16396.57     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                                  | SANOFI COMMON STOCK EUR2.0                                 | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |       591 | NS      | $53054.44     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Sany Heavy Industry Co Ltd                                 | SANY HEAVY INDUSTRY CO LTD A COMMON STOCK CNY1.0           | CUSIP: 000000000<br>LEI: 3003001FS86S7NYOHV89 | Long             | EC               | CORP              | CN        |      9100 | NS      | $25126.96     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                                     | SAP SE COMMON STOCK                                        | CUSIP: D66992104<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |       513 | NS      | $146695.18    | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co                                       | SAUDI ARABIAN OIL CO COMMON STOCK                          | CUSIP: 000000000<br>LEI: 5586006WD91QHB7J4X50 | Long             | EC               | CORP              | SA        |      3597 | NS      | $23274.93     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Holdings Inc                                           | SBI HOLDINGS INC COMMON STOCK                              | CUSIP: J6991H100<br>LEI: 353800L6LMHYIPSMRQ17 | Long             | EC               | CORP              | JP        |       500 | NS      | $18573.93     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider Electric SE                                      | SCHNEIDER ELECTRIC SE COMMON STOCK EUR4.0                  | CUSIP: F86921107<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |       231 | NS      | $59781.23     | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Scout24 SE                                                 | SCOUT24 SE COMMON STOCK                                    | CUSIP: 000000000<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |       119 | NS      | $15903.36     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Sea Ltd                                                    | SEA LTD ADR ADR USD.0005                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |       258 | NS      | $40415.70     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Seatrium Ltd                                               | SEATRIUM LTD COMMON STOCK                                  | CUSIP: 000000000<br>LEI: 254900MQNHWMN6X1NV39 | Long             | EC               | CORP              | SG        |     15900 | NS      | $27633.57     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Segro PLC                                                  | SEGRO PLC REIT GBP.1                                       | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |      1331 | NS      | $11343.76     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Seven & i Holdings Co Ltd                                  | SEVEN + I HOLDINGS CO LTD COMMON STOCK                     | CUSIP: 000000000<br>LEI: 52990037G8JRM3TWGY86 | Long             | EC               | CORP              | JP        |      3300 | NS      | $43504.54     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                                                  | SHELL PLC COMMON STOCK EUR.07                              | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      2957 | NS      | $106254.19    | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd                                  | SHIN ETSU CHEMICAL CO LTD COMMON STOCK                     | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |      1400 | NS      | $40287.67     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Shopify Inc                                                | SHOPIFY INC   CLASS A COMMON STOCK                         | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |       584 | NS      | $71385.74     | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Siam Cement PCL/The                                        | SIAM CEMENT PUB CO FOR REG FOREIGN SH. THB1.0 A            | CUSIP: 000000000<br>LEI: 254900RMCZY0X6F2KB70 | Long             | EC               | CORP              | TH        |      2400 | NS      | $14739.00     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                                                 | SIEMENS AG REG COMMON STOCK                                | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |       395 | NS      | $100607.73    | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG                                          | SIEMENS ENERGY AG COMMON STOCK                             | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |       223 | NS      | $25818.65     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Healthineers AG                                    | SIEMENS HEALTHINEERS AG COMMON STOCK                       | CUSIP: 000000000<br>LEI: 529900QBVWXMWANH7H45 | Long             | EC               | CORP              | DE        |       371 | NS      | $19983.03     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Sika AG                                                    | SIKA AG REG COMMON STOCK CHF.01                            | CUSIP: 000000000<br>LEI: 549300R3N69ECGYPU434 | Long             | EC               | CORP              | CH        |        44 | NS      | $10383.10     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd                           | SINGAPORE TELECOMMUNICATIONS COMMON STOCK                  | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |      7000 | NS      | $20861.03     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc                                               | SK HYNIX INC COMMON STOCK KRW5000.0                        | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |       363 | NS      | $70355.14     | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Square Co Ltd                                           | SK SQUARE CO LTD COMMON STOCK KRW500.0                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       365 | NS      | $39314.27     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                           | SKANDINAVISKA ENSKILDA BAN A COMMON STOCK SEK10.0          | CUSIP: 000000000<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | EC               | CORP              | SE        |       792 | NS      | $13854.08     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                        | SOCIETE GENERALE SA COMMON STOCK EUR1.25                   | CUSIP: F8591M517<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |       772 | NS      | $49275.60     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| SoftBank Corp                                              | SOFTBANK CORP COMMON STOCK                                 | CUSIP: 000000000<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |     14000 | NS      | $20227.70     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| SoftBank Group Corp                                        | SOFTBANK GROUP CORP COMMON STOCK                           | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |       500 | NS      | $38179.47     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonova Holding AG                                          | SONOVA HOLDING AG REG COMMON STOCK CHF.05                  | CUSIP: 000000000<br>LEI: 5299004A0QNX7FBNHS61 | Long             | EC               | CORP              | CH        |        69 | NS      | $18782.35     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                                            | SONY GROUP CORP COMMON STOCK                               | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |      3700 | NS      | $88997.21     | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA                                      | SPOTIFY TECHNOLOGY SA COMMON STOCK EUR.000625              | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |        70 | NS      | $43857.80     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                                    | SSE PLC COMMON STOCK GBP.5                                 | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |       710 | NS      | $17403.68     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                     | STANDARD CHARTERED PLC COMMON STOCK USD.5                  | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |      2226 | NS      | $39905.42     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund | STATE STREET INSTITUTIONAL US STATE ST INST US GOV MM PREM | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |     48506 | NS      | $48505.56     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Stora Enso Oyj                                             | STORA ENSO OYJ R SHS COMMON STOCK EUR1.7                   | CUSIP: 000000000<br>LEI: 7437000ZP669LKUTZ738 | Long             | EC               | CORP              | FI        |      1439 | NS      | $14806.56     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Corp                                              | SUMITOMO CORP COMMON STOCK                                 | CUSIP: 000000000<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |      1300 | NS      | $33227.68     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Group Inc                            | SUMITOMO MITSUI TRUST GROUP COMMON STOCK                   | CUSIP: 000000000<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |       900 | NS      | $23593.28     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc                                          | SUNCOR ENERGY INC COMMON STOCK                             | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |       824 | NS      | $32499.71     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Suncorp Group Ltd                                          | SUNCORP GROUP LTD COMMON STOCK                             | CUSIP: 000000000<br>LEI: 549300BVOKRTHDIWVT46 | Long             | EC               | CORP              | AU        |      1262 | NS      | $16916.81     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Symrise AG                                                 | SYMRISE AG COMMON STOCK                                    | CUSIP: 000000000<br>LEI: 529900D82I6R9601CF26 | Long             | EC               | CORP              | DE        |       125 | NS      | $11330.90     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Sysmex Corp                                                | SYSMEX CORP COMMON STOCK                                   | CUSIP: 000000000<br>LEI: 5299001ZO4CKWACMZI55 | Long             | EC               | CORP              | JP        |      1000 | NS      | $16245.85     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| T&D Holdings Inc                                           | T+D HOLDINGS INC COMMON STOCK                              | CUSIP: 000000000<br>LEI: 3538008ARJ1MACEWA242 | Long             | EC               | CORP              | JP        |       700 | NS      | $17093.10     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiheiyo Cement Corp                                       | TAIHEIYO CEMENT CORP COMMON STOCK                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1800 | NS      | $43986.31     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                  | TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK TWD10.0          | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      7000 | NS      | $269494.77    | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                  | TAIWAN SEMICONDUCTOR SP ADR ADR                            | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       682 | NS      | $164784.84    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd                               | TAKEDA PHARMACEUTICAL CO LTD COMMON STOCK                  | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |       800 | NS      | $21975.83     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| TC Energy Corp                                             | TC ENERGY CORP COMMON STOCK                                | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |       498 | NS      | $23778.64     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd                               | TECHTRONIC INDUSTRIES CO LTD COMMON STOCK                  | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |      1500 | NS      | $17936.47     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Telstra Group Ltd                                          | TELSTRA GROUP LTD COMMON STOCK                             | CUSIP: 000000000<br>LEI: 894500WRW54CVN62K416 | Long             | EC               | CORP              | AU        |      5857 | NS      | $18666.73     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                                       | TENCENT HOLDINGS LTD COMMON STOCK HKD.00002                | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |      3700 | NS      | $259045.13    | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Terna - Rete Elettrica Nazionale                           | TERNA RETE ELETTRICA NAZIONA COMMON STOCK EUR.22           | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |      1564 | NS      | $15133.18     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesco PLC                                                  | TESCO PLC COMMON STOCK GBP.0633333                         | CUSIP: G8T67X102<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |      2889 | NS      | $16231.62     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                                                  | THALES SA COMMON STOCK EUR3.0                              | CUSIP: 000000000<br>LEI: 529900FNDVTQJOVVPZ19 | Long             | EC               | CORP              | FR        |        82 | NS      | $22057.48     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi National Bank/The                                    | THE SAUDI NATIONAL BANK COMMON STOCK SAR10.0               | CUSIP: 000000000<br>LEI: 5586006ZEFQ542K7CY16 | Long             | EC               | CORP              | SA        |      2776 | NS      | $27701.96     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Toho Co Ltd/Tokyo                                          | TOHO CO LTD COMMON STOCK                                   | CUSIP: 000000000<br>LEI: 529900IYHHYWU4O3H185 | Long             | EC               | CORP              | JP        |       300 | NS      | $18927.96     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings Inc                                  | TOKIO MARINE HOLDINGS INC COMMON STOCK                     | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |      1400 | NS      | $56214.05     | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd                                         | TOKYO ELECTRON LTD COMMON STOCK                            | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |       100 | NS      | $15897.87     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Tongcheng Travel Holdings Ltd                              | TONGCHENG TRAVEL HOLDINGS LT COMMON STOCK USD.0005         | CUSIP: 000000000<br>LEI: 2549004WGGNOPL8NUL61 | Long             | EC               | CORP              | KY        |      6000 | NS      | $15033.77     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank/The                                  | TORONTO DOMINION BANK COMMON STOCK                         | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |       690 | NS      | $50256.06     | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                           | TOTALENERGIES SE COMMON STOCK EUR2.5                       | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |      1141 | NS      | $67850.09     | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Tourmaline Oil Corp                                        | TOURMALINE OIL CORP COMMON STOCK                           | CUSIP: 89156V106<br>LEI: 894500I7AXG91VB3PM28 | Long             | EC               | CORP              | CA        |       240 | NS      | $10214.20     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp                                          | TOYOTA MOTOR CORP COMMON STOCK                             | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |      4700 | NS      | $83601.73     | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Transurban Group                                           | TRANSURBAN GROUP STAPLED SECURITY                          | CUSIP: 000000000<br>LEI: 549300ZR71SUQ4VUTM79 | Long             | EC               | CORP              | AU        |      1224 | NS      | $10832.18     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Trial Holdings Inc                                         | TRIAL HOLDINGS INC COMMON STOCK                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       900 | NS      | $13991.84     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Trip.com Group Ltd                                         | TRIP.COM GROUP LTD ADR ADR USD.01                          | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |       311 | NS      | $19266.45     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                               | UBS GROUP AG REG COMMON STOCK USD.1                        | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |      1056 | NS      | $39245.20     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Unicharm Corp                                              | UNICHARM CORP COMMON STOCK                                 | CUSIP: 000000000<br>LEI: 353800UQ4BZIJTAQEG85 | Long             | EC               | CORP              | JP        |      1500 | NS      | $10375.72     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                              | UNICREDIT SPA COMMON STOCK                                 | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |      1054 | NS      | $77546.75     | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                                               | UNILEVER PLC COMMON STOCK GBP.00031111                     | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |      1418 | NS      | $82273.00     | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| United Overseas Bank Ltd                                   | UNITED OVERSEAS BANK LTD COMMON STOCK                      | CUSIP: Y9T10P105<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |       600 | NS      | $16669.64     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Universal Music Group NV                                   | UNIVERSAL MUSIC GROUP NV COMMON STOCK EUR10.0              | CUSIP: 000000000<br>LEI: 724500GJBUL3D9TW9Y18 | Long             | EC               | CORP              | NL        |       703 | NS      | $20223.13     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| UPM-Kymmene Oyj                                            | UPM KYMMENE OYJ COMMON STOCK                               | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |       748 | NS      | $19386.49     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Vale SA                                                    | VALE SA SP ADR ADR                                         | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |      2116 | NS      | $20165.48     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                                   | VINCI SA COMMON STOCK EUR2.5                               | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |       313 | NS      | $43478.44     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Volkswagen AG                                              | VOLKSWAGEN AG PREF PREFERENCE                              | CUSIP: 000000000<br>LEI: 529900NNUPAGGOMPXZ31 | Long             | EP               | CORP              | DE        |       152 | NS      | $15893.99     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Volvo AB                                                   | VOLVO AB B SHS COMMON STOCK SEK1.26                        | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |       612 | NS      | $17576.51     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV                               | WALMART DE MEXICO SAB DE CV COMMON STOCK                   | CUSIP: P98180188<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |      3709 | NS      | $10931.38     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Weichai Power Co Ltd                                       | WEICHAI POWER CO LTD A COMMON STOCK CNY1.0                 | CUSIP: 000000000<br>LEI: 529900OKTPKBG85F9502 | Long             | EC               | CORP              | CN        |     13000 | NS      | $27221.77     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| George Weston Ltd                                          | WESTON (GEORGE) LTD COMMON STOCK                           | CUSIP: 961148509<br>LEI: 549300FAHC3L1QKNT280 | Long             | EC               | CORP              | CA        |       101 | NS      | $19191.90     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Westpac Banking Corp                                       | WESTPAC BANKING CORP COMMON STOCK                          | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | EC               | CORP              | AU        |      1701 | NS      | $36724.81     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Wheaton Precious Metals Corp                               | WHEATON PRECIOUS METALS CORP COMMON STOCK                  | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |       252 | NS      | $23046.65     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Wise PLC                                                   | WISE PLC   A COMMON STOCK GBP.01                           | CUSIP: G97229101<br>LEI: 213800LD9XCHIC1C4V71 | Long             | EC               | CORP              | GB        |       961 | NS      | $12837.98     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodside Energy Group Ltd                                  | WOODSIDE ENERGY GROUP LTD COMMON STOCK                     | CUSIP: 980228100<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |      1113 | NS      | $18834.61     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| WSP Global Inc                                             | WSP GLOBAL INC COMMON STOCK                                | CUSIP: 92938W202<br>LEI: 549300IQ87LU6X6ERQ78 | Long             | EC               | CORP              | CA        |        90 | NS      | $18531.32     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Xero Ltd                                                   | XERO LTD COMMON STOCK                                      | CUSIP: 000000000<br>LEI: 254900UG5D8YST164N14 | Long             | EC               | CORP              | NZ        |       219 | NS      | $25220.16     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp                                                | XIAOMI CORP CLASS B COMMON STOCK USD.0000025               | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |      9400 | NS      | $63242.73     | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Yaskawa Electric Corp                                      | YASKAWA ELECTRIC CORP COMMON STOCK                         | CUSIP: 000000000<br>LEI: 3538003K39GR98R0CK58 | Long             | EC               | CORP              | JP        |       700 | NS      | $14641.05     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Yokogawa Electric Corp                                     | YOKOGAWA ELECTRIC CORP COMMON STOCK                        | CUSIP: 000000000<br>LEI: 529900MV0U7C9WWF4L22 | Long             | EC               | CORP              | JP        |       800 | NS      | $21323.26     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Yum China Holdings Inc                                     | YUM CHINA HOLDINGS INC COMMON STOCK USD.01                 | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |       300 | NS      | $13929.00     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Zijin Mining Group Co Ltd                                  | ZIJIN MINING GROUP CO LTD H COMMON STOCK CNY.1             | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |      6000 | NS      | $15909.95     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                                  | ZURICH INSURANCE GROUP AG COMMON STOCK CHF.1               | CUSIP: 000000000<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |        54 | NS      | $36833.73     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** T. Rowe Price Exchange-Traded Funds, Inc.

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President