# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001099263-26-002585
**Filing Date:** 2026-2
**Character Count:** 28980
**Document Hash:** 9483311302cb3161371a874466bf9909
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-002585.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001099263-26-002585

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20251231

**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:** 26686632

**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 Financials ETF (Series ID: S000092021)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000259931 | T. Rowe Price Financials ETF | TFNS            |

## 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 Financials ETF

- **b. EDGAR series identifier (if any):** S000092021

- **c. LEI of Series:** 254900XY0Z2IDV06WD97

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $12399171.75

**Total Liabilities:** $35528.90

**Net Assets:** $12363642.85

**Cash Not Reported:** $261.41

**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 C000259931 | -2.52%               | 2.36%                | 4.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-38659.74               | $-269725.82                                |
| Month 2  | $77054.23                | $187901.47                                 |
| Month 3  | $38097.46                | $453276.20                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AFFILIATED MANAGERS GROUP         | AFFILIATED MANAGERS GROUP COMMON STOCK USD.01              | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |       146 | NS      | $42088.88     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP                     | ALLSTATE CORP COMMON STOCK USD.01                          | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      1029 | NS      | $214186.35    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO               | AMERICAN EXPRESS CO COMMON STOCK USD.2                     | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       522 | NS      | $193113.90    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP      | AMERICAN INTERNATIONAL GROUP COMMON STOCK USD2.5           | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      2324 | NS      | $198818.20    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL INC          | AMERIPRISE FINANCIAL INC COMMON STOCK USD.01               | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |       113 | NS      | $55408.42     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT INC      | APOLLO GLOBAL MANAGEMENT INC COMMON STOCK USD.0001         | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |      1242 | NS      | $179791.92    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| AXIS CAPITAL HOLDINGS LTD         | AXIS CAPITAL HOLDINGS LTD COMMON STOCK USD.0125            | CUSIP: G0692U109<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |      1025 | NS      | $109767.25    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP              | BANK OF AMERICA CORP COMMON STOCK USD.01                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     11118 | NS      | $611490.00    | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP      | BANK OF NEW YORK MELLON CORP COMMON STOCK USD.01           | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |       376 | NS      | $43649.84     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC-CL B       | BERKSHIRE HATHAWAY INC CL B COMMON STOCK USD.0033          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      2263 | NS      | $1137496.95   | 9.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK INC                     | BLACKROCK INC COMMON STOCK USD.01                          | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |       175 | NS      | $187309.50    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKSTONE INC                    | BLACKSTONE INC COMMON STOCK USD.00001                      | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |       249 | NS      | $38380.86     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOCK INC                         | BLOCK INC COMMON STOCK USD.0000001                         | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |       416 | NS      | $27077.44     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP        | CAPITAL ONE FINANCIAL CORP COMMON STOCK USD.01             | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      1762 | NS      | $427038.32    | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS INC           | CBOE GLOBAL MARKETS INC COMMON STOCK                       | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |        38 | NS      | $9538.00      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRAL BANCOMPANY                | CENTRAL BANCOMPANY COMMON STOCK                            | CUSIP: 152413100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1325 | NS      | $31959.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUBB LTD                         | CHUBB LTD COMMON STOCK                                     | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      1206 | NS      | $376416.72    | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                     | CITIGROUP INC COMMON STOCK USD.01                          | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      4670 | NS      | $544942.30    | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC                     | CME GROUP INC COMMON STOCK USD.01                          | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       426 | NS      | $116332.08    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBIA BANKING SYSTEM INC       | COLUMBIA BANKING SYSTEM INC COMMON STOCK                   | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |      1805 | NS      | $50449.75     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL INC          | COREBRIDGE FINANCIAL INC COMMON STOCK USD.01               | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |      1156 | NS      | $34876.52     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPAY INC                        | CORPAY INC COMMON STOCK USD.001                            | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |       383 | NS      | $115256.19    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| EAST WEST BANCORP INC             | EAST WEST BANCORP INC COMMON STOCK USD.001                 | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |       617 | NS      | $69344.63     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUIFAX INC                       | EQUIFAX INC COMMON STOCK USD1.25                           | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |        87 | NS      | $18877.26     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC            | EQUITABLE HOLDINGS INC COMMON STOCK USD.01                 | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |      1211 | NS      | $57704.15     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ETORO GROUP LTD-A                 | ETORO GROUP LTD A COMMON STOCK NPV                         | CUSIP: G32089107<br>LEI: 213800XPRPJK2X5QRG86 | Long             | EC               | CORP              | VG        |      1564 | NS      | $54943.32     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP               | FIFTH THIRD BANCORP COMMON STOCK                           | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |      1718 | NS      | $80419.58     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| FULTON FINANCIAL CORP             | FULTON FINANCIAL CORP COMMON STOCK USD2.5                  | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |      1527 | NS      | $29516.91     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PAYMENTS INC               | GLOBAL PAYMENTS INC COMMON STOCK                           | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |      1116 | NS      | $86378.40     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC           | GOLDMAN SACHS GROUP INC COMMON STOCK USD.01                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       545 | NS      | $479055.00    | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT-WEST LIFECO INC             | GREAT WEST LIFECO INC COMMON STOCK                         | CUSIP: CA2384951<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |       515 | NS      | $25398.24     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| HARTFORD INSURANCE GROUP INC/T    | HARTFORD INSURANCE GROUP INC COMMON STOCK USD.01           | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      1040 | NS      | $143312.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE INC     | INTERCONTINENTAL EXCHANGE IN COMMON STOCK USD.01           | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      1034 | NS      | $167466.64    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO LTD                       | INVESCO LTD COMMON STOCK USD.2                             | CUSIP: G491BT108<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | BM        |      3634 | NS      | $95465.18     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN CHASE & CO.           | JPMORGAN CHASE + CO COMMON STOCK USD1.0                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1874 | NS      | $603840.28    | 4.88%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & CO INC                      | KKR + CO INC COMMON STOCK USD.01                           | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      1138 | NS      | $145072.24    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| KLARNA GROUP PLC                  | KLARNA GROUP PLC COMMON STOCK USD.01                       | CUSIP: G5279N105<br>LEI: 636700HER4JIK7GZUN17 | Long             | EC               | CORP              | GB        |       371 | NS      | $10725.61     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH & MCLENNAN COS              | MARSH + MCLENNAN COS COMMON STOCK USD1.0                   | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      1069 | NS      | $198320.88    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC - A                | MASTERCARD INC   A COMMON STOCK USD.0001                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1186 | NS      | $677063.68    | 5.48%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                       | METLIFE INC COMMON STOCK USD.01                            | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |      1854 | NS      | $146354.76    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MIAMI INTERNATIONAL HOLDINGS      | MIAMI INTERNATIONAL HOLDINGS COMMON STOCK USD.001          | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |       564 | NS      | $25030.32     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MOODY S CORP                      | MOODY S CORP COMMON STOCK USD.01                           | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |        60 | NS      | $30651.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                    | MORGAN STANLEY COMMON STOCK USD.01                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1663 | NS      | $295232.39    | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI INC                          | MSCI INC COMMON STOCK USD.01                               | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |        59 | NS      | $33850.07     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS INC               | PAYPAL HOLDINGS INC COMMON STOCK                           | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      2107 | NS      | $123006.66    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP      | PNC FINANCIAL SERVICES GROUP COMMON STOCK USD5.0           | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |       731 | NS      | $152581.63    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| POPULAR INC                       | POPULAR INC COMMON STOCK USD.01                            | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |       773 | NS      | $96253.96     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP                  | PROGRESSIVE CORP COMMON STOCK USD1.0                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       505 | NS      | $114998.60    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES FINANCIAL INC       | RAYMOND JAMES FINANCIAL INC COMMON STOCK USD.01            | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |       417 | NS      | $66966.03     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORP            | REGIONS FINANCIAL CORP COMMON STOCK USD.01                 | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      3554 | NS      | $96313.40     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD        | RENAISSANCERE HOLDINGS LTD COMMON STOCK USD1.0             | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |       443 | NS      | $124553.88    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBINHOOD MARKETS INC - A         | ROBINHOOD MARKETS INC   A COMMON STOCK USD.0001            | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |       480 | NS      | $54288.00     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKET COS INC-CLASS A            | ROCKET COS INC CLASS A COMMON STOCK USD.00001              | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2193 | NS      | $42456.48     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P GLOBAL INC                    | S+P GLOBAL INC COMMON STOCK USD1.0                         | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       404 | NS      | $211126.36    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB (CHARLES) CORP             | SCHWAB (CHARLES) CORP COMMON STOCK USD.01                  | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      4854 | NS      | $484963.14    | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM CORP                          | SLM CORP COMMON STOCK USD.2                                | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1199 | NS      | $32444.94     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP                 | STATE STREET CORP COMMON STOCK USD1.0                      | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      1377 | NS      | $177646.77    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET INS US GO MM FD-IS   | STATE STREET INSTITUTIONAL US STATE ST INST US GOV MM PREM | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |     70803 | NS      | $70803.10     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| STEPSTONE GROUP INC-CLASS A       | STEPSTONE GROUP INC CLASS A COMMON STOCK USD.001           | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       633 | NS      | $40619.61     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP             | STIFEL FINANCIAL CORP COMMON STOCK USD.15                  | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |       444 | NS      | $55597.68     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL               | SYNCHRONY FINANCIAL COMMON STOCK USD.001                   | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |       909 | NS      | $75837.87     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOVUS FINANCIAL CORP            | SYNOVUS FINANCIAL CORP COMMON STOCK USD1.0                 | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |       729 | NS      | $36486.45     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVELERS COS INC/THE             | TRAVELERS COS INC/THE COMMON STOCK                         | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       142 | NS      | $41188.52     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| GRS - SECURITY LENDING COLLATERAL | TREASURY RESERVE FUND - Collateral                         | CUSIP: 76105YYY9<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | STIV             | RF                | US        |     30875 | NS      | $30875.00     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG-REG                  | UBS GROUP AG REG COMMON STOCK USD.1                        | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |      1351 | NS      | $62564.81     | 0.51%             |  |  |  | No            |                  1 | On Loan: —       |
| UMB FINANCIAL CORP                | UMB FINANCIAL CORP COMMON STOCK USD1.0                     | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |       412 | NS      | $47396.48     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                        | US BANCORP COMMON STOCK USD.01                             | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      4286 | NS      | $228700.96    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC-CLASS A SHARES           | VISA INC CLASS A SHARES COMMON STOCK USD.0001              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2601 | NS      | $912196.71    | 7.38%             |  |  |  | No            |                  1 | On Loan: No      |
| VOYA FINANCIAL INC                | VOYA FINANCIAL INC COMMON STOCK USD.01                     | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |       995 | NS      | $74117.55     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| WEBSTER FINANCIAL CORP            | WEBSTER FINANCIAL CORP COMMON STOCK USD.01                 | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |      1603 | NS      | $100892.82    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & CO                  | WELLS FARGO + CO COMMON STOCK USD1.666                     | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      4619 | NS      | $430490.80    | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORP          | WESTERN ALLIANCE BANCORP COMMON STOCK USD.0001             | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      1321 | NS      | $111056.47    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIS TOWERS WATSON PLC          | WILLIS TOWERS WATSON PLC COMMON STOCK USD.000304635        | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |       226 | NS      | $74263.60     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-04

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President