# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001795351-25-000517
**Filing Date:** 2025-8
**Character Count:** 98735
**Document Hash:** fbea70dd31f4f96483eba00b7b0c5216
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001795351-25-000517.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001795351-25-000517

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**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:** 251256911

**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 Small-Mid Cap ETF (Series ID: S000079837)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000241225 | T. Rowe Price Small-Mid Cap ETF | TMSL            |

## 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 Small-Mid Cap ETF

- **b. EDGAR series identifier (if any):** S000079837

- **c. LEI of Series:** 2549007E1MIRD0TWHQ40

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $830471291.36

**Total Liabilities:** $1807063.39

**Net Assets:** $828664227.97

**Cash Not Reported:** $0.01

**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 C000241225 | -2.43%               | 6.10%                | 3.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-12896762.62            | $-739465.01                                |
| Month 2  | $-30285.90               | $41636281.19                               |
| Month 3  | $8589684.75              | $22083377.75                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGCO Corp                                                  | AGCO CORP COMMON STOCK USD.01                              | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     51422 | NS      | $5304693.52   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp                                             | API GROUP CORP COMMON STOCK USD.0001                       | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |    180782 | NS      | $9228921.10   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                                                   | ASGN INC COMMON STOCK USD.01                               | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |     18272 | NS      | $912320.96    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| A10 Networks Inc                                           | A10 NETWORKS INC COMMON STOCK USD.00001                    | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |     97768 | NS      | $1891810.80   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc                                                 | ACUITY INC COMMON STOCK USD.01                             | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7852 | NS      | $2342565.68   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                                      | AECOM COMMON STOCK USD.01                                  | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |     16586 | NS      | $1871895.96   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Akero Therapeutics Inc                                     | AKERO THERAPEUTICS INC COMMON STOCK USD.0001               | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |     33924 | NS      | $1810184.64   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                                            | ALAMOS GOLD INC CLASS A COMMON STOCK                       | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     81413 | NS      | $2162329.28   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Amalgamated Financial Corp                                 | AMALGAMATED FINANCIAL CORP COMMON STOCK USD.01             | CUSIP: 022671101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39017 | NS      | $1217330.40   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                                                | AMEREN CORPORATION COMMON STOCK USD.01                     | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     47095 | NS      | $4523003.80   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc                              | ANNALY CAPITAL MANAGEMENT IN REIT USD.01                   | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     84948 | NS      | $1598721.36   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Appfolio Inc                                               | APPFOLIO INC   A COMMON STOCK USD.0001                     | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      9382 | NS      | $2160486.96   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                                 | APPLE HOSPITALITY REIT INC REIT                            | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    174997 | NS      | $2042214.99   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                                    | ARAMARK COMMON STOCK USD.01                                | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |     61097 | NS      | $2558131.39   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                                        | ASCENDIS PHARMA A/S   ADR ADR DKK1.0                       | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      6186 | NS      | $1067703.60   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                                               | ASSURANT INC COMMON STOCK USD.01                           | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     10181 | NS      | $2010645.69   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc                          | ATMUS FILTRATION TECHNOLOGIE COMMON STOCK                  | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    139547 | NS      | $5082301.74   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc                                                | AUTOLIV INC COMMON STOCK USD1.0                            | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |     20422 | NS      | $2285221.80   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidity Biosciences Inc                                    | AVIDITY BIOSCIENCES INC COMMON STOCK                       | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63358 | NS      | $1799367.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bicara Therapeutics Inc                                    | BICARA THERAPEUTICS INC COMMON STOCK USD.0001              | CUSIP: 055477103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25014 | NS      | $232380.06    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| BJ s Wholesale Club Holdings Inc                           | BJ S WHOLESALE CLUB HOLDINGS COMMON STOCK USD.01           | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     29365 | NS      | $3166427.95   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                                       | BWX TECHNOLOGIES INC COMMON STOCK USD.01                   | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     12505 | NS      | $1801470.30   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bath & Body Works Inc                                      | BATH + BODY WORKS INC COMMON STOCK USD.5                   | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |    117929 | NS      | $3533152.84   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                                                 | BELDEN INC COMMON STOCK USD.01                             | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     61352 | NS      | $7104561.60   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                                            | BIO TECHNE CORP COMMON STOCK USD.01                        | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     14664 | NS      | $754462.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp                                             | BLUE BIRD CORP COMMON STOCK USD.0001                       | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     43025 | NS      | $1856959.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Blueprint Medicines Corp                                   | BLUEPRINT MEDICINES CORP COMMON STOCK USD.001              | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |     13065 | NS      | $1674671.70   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp                           | BOOZ ALLEN HAMILTON HOLDINGS COMMON STOCK USD.01           | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     28839 | NS      | $3003005.07   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Box Inc                                                    | BOX INC   CLASS A COMMON STOCK USD.0001                    | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     63329 | NS      | $2163951.93   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpring Health Services Inc                           | BRIGHTSPRING HEALTH SERVICES COMMON STOCK USD100.0         | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     91468 | NS      | $2157730.12   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink s Co/The                                             | BRINK S CO/THE COMMON STOCK USD1.0                         | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     32478 | NS      | $2899960.62   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                                 | BRIXMOR PROPERTY GROUP INC REIT USD.01                     | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |    129646 | NS      | $3375981.84   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc                                      | BURLINGTON STORES INC COMMON STOCK USD.0001                | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     16630 | NS      | $3868803.20   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                                    | CBOE GLOBAL MARKETS INC COMMON STOCK                       | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     12395 | NS      | $2890637.95   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Holdings Inc                     | CCC INTELLIGENT SOLUTIONS HO COMMON STOCK USD.0001         | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    485880 | NS      | $4572130.80   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc                                 | CF INDUSTRIES HOLDINGS INC COMMON STOCK USD.01             | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     29827 | NS      | $2744084.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Caris Life Sciences Inc                                    | CARIS LIFE SCIENCES INC COMMON STOCK USD.001               | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |     13545 | NS      | $361922.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp                                  | CARPENTER TECHNOLOGY COMMON STOCK USD5.0                   | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     14407 | NS      | $3981806.66   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                                 | CARVANA CO COMMON STOCK USD.001                            | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      8347 | NS      | $2812605.12   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey s General Stores Inc                                 | CASEY S GENERAL STORES INC COMMON STOCK                    | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      8952 | NS      | $4567937.04   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Celldex Therapeutics Inc                                   | CELLDEX THERAPEUTICS INC COMMON STOCK USD.001              | CUSIP: 15117B202<br>LEI: 529900F018DMYWH38923 | Long             | EC               | CORP              | US        |     39968 | NS      | $813348.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Centessa Pharmaceuticals PLC                               | CENTESSA PHARMACEUTICALS ADR ADR USD.0001                  | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |     32659 | NS      | $429139.26    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| CG oncology Inc                                            | CG ONCOLOGY INC COMMON STOCK                               | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17358 | NS      | $451308.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                                        | CHURCHILL DOWNS INC COMMON STOCK                           | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |     24825 | NS      | $2507325.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                                                 | CIENA CORP COMMON STOCK USD.01                             | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     44788 | NS      | $3642608.04   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Circle Internet Group Inc                                  | CIRCLE INTERNET GROUP INC COMMON STOCK                     | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |     10017 | NS      | $1815981.93   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc                                          | CLEAN HARBORS INC COMMON STOCK USD.01                      | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      7266 | NS      | $1679753.88   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc                                        | CLEARWAY ENERGY INC C COMMON STOCK                         | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     69103 | NS      | $2211296.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Consolidated Inc                                 | COCA COLA CONSOLIDATED INC COMMON STOCK USD1.0             | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |     16293 | NS      | $1819113.45   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc                                | COLUMBIA BANKING SYSTEM INC COMMON STOCK                   | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112036 | NS      | $2619401.68   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc                                    | COMFORT SYSTEMS USA INC COMMON STOCK USD.01                | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      3994 | NS      | $2141622.74   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems Inc                                      | COMMVAULT SYSTEMS INC COMMON STOCK USD.01                  | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      8094 | NS      | $1411027.02   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Parent Inc                        | CONCENTRA GROUP HOLDINGS W/I COMMON STOCK USD.01           | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    245192 | NS      | $5043599.44   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc                                   | COREBRIDGE FINANCIAL INC COMMON STOCK USD.01               | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    181925 | NS      | $6458337.50   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                                                 | CORPAY INC COMMON STOCK USD.001                            | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     30527 | NS      | $10129469.14  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc                              | CRINETICS PHARMACEUTICALS IN COMMON STOCK USD.001          | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     49144 | NS      | $1413381.44   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                                                  | CROCS INC COMMON STOCK USD.001                             | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     27897 | NS      | $2825408.16   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                                  | CUBESMART REIT USD.01                                      | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92511 | NS      | $3931717.50   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                                        | CURTISS WRIGHT CORP COMMON STOCK USD1.0                    | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      7260 | NS      | $3546873.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Denali Therapeutics Inc                                    | DENALI THERAPEUTICS INC COMMON STOCK USD.01                | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |     76902 | NS      | $1075858.98   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc/The                            | DESCARTES SYSTEMS GRP/THE COMMON STOCK                     | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |     65144 | NS      | $6621561.88   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Docusign Inc                                               | DOCUSIGN INC COMMON STOCK USD.0001                         | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     55730 | NS      | $4340809.70   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino s Pizza Inc                                         | DOMINO S PIZZA INC COMMON STOCK USD.01                     | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |      4938 | NS      | $2225062.80   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                                             | DRAFTKINGS INC CL A COMMON STOCK USD.0001                  | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     95306 | NS      | $4087674.34   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                                               | DUOLINGO COMMON STOCK USD.0001                             | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13945 | NS      | $5717728.90   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                                              | DYNATRACE INC COMMON STOCK USD.001                         | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     67414 | NS      | $3721926.94   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                             | EPR PROPERTIES REIT USD.01                                 | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     35547 | NS      | $2070968.22   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                                      | EAST WEST BANCORP INC COMMON STOCK USD.001                 | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18409 | NS      | $1858940.82   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                                            | EMCOR GROUP INC COMMON STOCK USD.01                        | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      7066 | NS      | $3779532.74   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                                      | ENCOMPASS HEALTH CORP COMMON STOCK USD.01                  | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     58658 | NS      | $7193230.54   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                                    | ENERSYS COMMON STOCK USD.01                                | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     19992 | NS      | $1714713.84   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                                               | ENTEGRIS INC COMMON STOCK USD.01                           | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     55166 | NS      | $4449137.90   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc                                     | EQUITABLE HOLDINGS INC COMMON STOCK USD.01                 | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |    104388 | NS      | $5856166.80   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                            | EQUITY LIFESTYLE PROPERTIES REIT USD.01                    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     27256 | NS      | $1680877.52   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                                                  | ESAB CORP COMMON STOCK USD.001                             | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |     42566 | NS      | $5131331.30   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                                   | ESSEX PROPERTY TRUST INC REIT USD.0001                     | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      6106 | NS      | $1730440.40   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                                 | EVERGY INC COMMON STOCK                                    | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     48604 | NS      | $3350273.72   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp                                        | EXACT SCIENCES CORP COMMON STOCK USD.01                    | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |     24190 | NS      | $1285456.60   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                        | FIFTH THIRD BANCORP COMMON STOCK                           | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     69113 | NS      | $2842617.69   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| First Advantage Corp                                       | FIRST ADVANTAGE CORP COMMON STOCK USD.001                  | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |    265917 | NS      | $4416881.37   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico                                  | FIRST BANCORP PUERTO RICO COMMON STOCK USD.1               | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |    205820 | NS      | $4287230.60   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp                                          | FIRSTSERVICE CORP COMMON STOCK                             | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |      6863 | NS      | $1198417.06   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc                                     | FIRSTCASH HOLDINGS INC COMMON STOCK USD.01                 | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12088 | NS      | $1633572.32   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc                                 | FLOOR + DECOR HOLDINGS INC A COMMON STOCK USD.001          | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     37624 | NS      | $2857919.04   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods Inc                                          | FLOWERS FOODS INC COMMON STOCK USD.01                      | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |    121526 | NS      | $1941985.48   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp                                               | FORTIVE CORP COMMON STOCK USD.01                           | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     54023 | NS      | $2816218.99   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                                              | FRONTDOOR INC COMMON STOCK USD.01                          | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     47621 | NS      | $2806781.74   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc                                         | GLOBUS MEDICAL INC   A COMMON STOCK USD.001                | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     15469 | NS      | $912980.38    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy Inc                                                | GODADDY INC   CLASS A COMMON STOCK USD.001                 | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |     40045 | NS      | $7210502.70   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                                           | HF SINCLAIR CORP COMMON STOCK                              | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     59738 | NS      | $2454037.04   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp                                       | HANCOCK WHITNEY CORP COMMON STOCK USD3.33                  | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     28951 | NS      | $1661787.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp                                       | HANMI FINANCIAL CORPORATION COMMON STOCK USD.001           | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |     70017 | NS      | $1728019.56   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanover Insurance Group Inc/The                            | HANOVER INSURANCE GROUP INC/ COMMON STOCK USD.01           | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     23331 | NS      | $3963236.97   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                                | HEXCEL CORP COMMON STOCK USD.01                            | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     60760 | NS      | $3432332.40   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                                       | HOWMET AEROSPACE INC COMMON STOCK                          | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     13725 | NS      | $2554634.25   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                                | HUBBELL INC COMMON STOCK USD.01                            | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      9220 | NS      | $3765540.20   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH                               | HUNTINGTON BANCSHARES INC COMMON STOCK USD.01              | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    322530 | NS      | $5405602.80   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                                                  | IDEX CORP COMMON STOCK USD.01                              | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     12370 | NS      | $2171800.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                                 | INSMED INC COMMON STOCK USD.01                             | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     58850 | NS      | $5922664.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital Inc                                           | INTERDIGITAL INC COMMON STOCK USD.01                       | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20443 | NS      | $4583933.89   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                                     | INTERNATIONAL PAPER CO COMMON STOCK USD1.0                 | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    105681 | NS      | $4949041.23   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals Inc                                  | IONIS PHARMACEUTICALS INC COMMON STOCK USD.001             | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |     35330 | NS      | $1395888.30   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications Inc                                 | IRIDIUM COMMUNICATIONS INC COMMON STOCK USD.001            | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     49485 | NS      | $1492962.45   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                                  | JABIL INC COMMON STOCK USD.001                             | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     29892 | NS      | $6519445.20   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Janux Therapeutics Inc                                     | JANUX THERAPEUTICS INC COMMON STOCK USD.001                | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24598 | NS      | $568213.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc                                     | JONES LANG LASALLE INC COMMON STOCK USD.01                 | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      9794 | NS      | $2505109.32   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc                                        | KARMAN HOLDINGS INC COMMON STOCK USD.001                   | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89150 | NS      | $4490485.50   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                                                    | KEYCORP COMMON STOCK USD1.0                                | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    278340 | NS      | $4848682.80   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                                         | KILROY REALTY CORP REIT USD.01                             | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     49904 | NS      | $1712206.24   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp                                           | KNIFE RIVER CORP COMMON STOCK USD.01                       | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25504 | NS      | $2082146.56   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                                                 | KORN FERRY COMMON STOCK USD.01                             | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     46088 | NS      | $3379633.04   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                                    | KYMERA THERAPEUTICS INC COMMON STOCK USD.0001              | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45041 | NS      | $1965589.24   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                                 | LPL FINANCIAL HOLDINGS INC COMMON STOCK                    | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      6091 | NS      | $2283942.27   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                                       | LAMAR ADVERTISING CO A REIT USD.001                        | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     43344 | NS      | $5260227.84   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                                   | LAMB WESTON HOLDINGS INC COMMON STOCK USD1.0               | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     43232 | NS      | $2241579.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                                 | LATTICE SEMICONDUCTOR CORP COMMON STOCK USD.01             | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |    105496 | NS      | $5168249.04   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                                                 | LAZARD INC COMMON STOCK USD.01                             | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |     81994 | NS      | $3934072.12   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                                        | LEIDOS HOLDINGS INC COMMON STOCK USD.0001                  | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     33306 | NS      | $5254354.56   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Broadband Corp                                     | LIBERTY BROADBAND C COMMON STOCK USD.01                    | CUSIP: 530307305<br>LEI: 549300MIX43II8JLN536 | Long             | EC               | CORP              | US        |     20453 | NS      | $2012166.14   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                                | LINEAGE INC REIT                                           | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32659 | NS      | $1421319.68   | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Loar Holdings Inc                                          | LOAR HOLDINGS INC COMMON STOCK NPV                         | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19934 | NS      | $1717712.78   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp                                     | LOUISIANA PACIFIC CORP COMMON STOCK USD1.0                 | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |     27893 | NS      | $2398519.07   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                                                    | MKS INC COMMON STOCK                                       | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     87975 | NS      | $8741196.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc                               | MADRIGAL PHARMACEUTICALS INC COMMON STOCK USD.0001         | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |      5213 | NS      | $1577662.32   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Main Street Capital Corp                                   | MAIN STREET CAPITAL CORP COMMON STOCK USD.01               | CUSIP: 56035L104<br>LEI: 5493001FS9QJLJNF3E20 | Long             | EC               | CORP              | US        |     51616 | NS      | $3050505.60   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                                   | MANHATTAN ASSOCIATES INC COMMON STOCK USD.01               | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      6644 | NS      | $1311990.68   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The                                          | MIDDLEBY CORP COMMON STOCK USD.01                          | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     54030 | NS      | $7780320.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co                                   | MOLSON COORS BEVERAGE CO   B COMMON STOCK USD.01           | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |     29102 | NS      | $1399515.18   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MoonLake Immunotherapeutics                                | MOONLAKE IMMUNOTHERAPEUTICS COMMON STOCK USD.0001          | CUSIP: 61559X104<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     16842 | NS      | $794942.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                                            | MORNINGSTAR INC COMMON STOCK                               | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      5284 | NS      | $1658806.12   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc                                 | MUELLER WATER PRODUCTS INC A COMMON STOCK USD.01           | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |    101501 | NS      | $2440084.04   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                                    | NVR INC COMMON STOCK USD.01                                | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       464 | NS      | $3426946.24   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                                 | NATERA INC COMMON STOCK                                    | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41491 | NS      | $7009489.54   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co                                       | NATIONAL FUEL GAS CO COMMON STOCK USD1.0                   | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     30121 | NS      | $2551549.91   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                                 | NEUROCRINE BIOSCIENCES INC COMMON STOCK USD.001            | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     26153 | NS      | $3287170.57   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp                                         | RITHM CAPITAL CORP REIT USD.01                             | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |    230621 | NS      | $2603711.09   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                                    | NEXSTAR MEDIA GROUP INC COMMON STOCK USD.01                | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     17347 | NS      | $3000163.65   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                                               | NISOURCE INC COMMON STOCK USD.01                           | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     71777 | NS      | $2895484.18   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group Inc                              | NORTHWESTERN ENERGY GROUP IN COMMON STOCK USD.01           | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     40048 | NS      | $2054462.40   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital Inc                                            | GEN DIGITAL INC COMMON STOCK USD.01                        | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |    139653 | NS      | $4105798.20   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                                                | NUTANIX INC   A COMMON STOCK USD.000025                    | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |     90304 | NS      | $6902837.76   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                                               | NUVALENT INC A COMMON STOCK USD.0001                       | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22188 | NS      | $1692944.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Nurix Therapeutics Inc                                     | NURIX THERAPEUTICS INC COMMON STOCK                        | CUSIP: 67080M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51150 | NS      | $582598.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                                | OFG BANCORP COMMON STOCK USD1.0                            | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     52122 | NS      | $2230821.60   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                                                   | OKTA INC COMMON STOCK                                      | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |     21698 | NS      | $2169149.06   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie s Bargain Outlet Holdings Inc                        | OLLIE S BARGAIN OUTLET HOLDI COMMON STOCK USD.001          | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     30052 | NS      | $3960252.56   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Inc                                       | ONEMAIN HOLDINGS INC COMMON STOCK USD.01                   | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     41211 | NS      | $2349027.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                                              | OWENS CORNING COMMON STOCK USD.001                         | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     14229 | NS      | $1956772.08   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                                                    | PTC INC COMMON STOCK USD.01                                | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |     30406 | NS      | $5240170.04   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc                                  | PARK HOTELS + RESORTS INC REIT USD.01                      | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    116926 | NS      | $1196152.98   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp                                     | PAYLOCITY HOLDING CORP COMMON STOCK USD.001                | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     11697 | NS      | $2119379.43   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Payoneer Global Inc                                        | PAYONEER GLOBAL INC COMMON STOCK USD.01                    | CUSIP: 70451X104<br>LEI: 984500491C64C70FF033 | Long             | EC               | CORP              | US        |    500250 | NS      | $3426712.50   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                                               | PENUMBRA INC COMMON STOCK USD.001                          | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |     10506 | NS      | $2696154.78   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp                                    | PERDOCEO EDUCATION CORP COMMON STOCK USD.01                | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     74536 | NS      | $2436581.84   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co                                  | PERFORMANCE FOOD GROUP CO COMMON STOCK USD.01              | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     61404 | NS      | $5371007.88   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                                                | REVVITY INC COMMON STOCK USD1.0                            | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |     33028 | NS      | $3194468.16   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                                     | PERMIAN RESOURCES CORP COMMON STOCK USD.0001               | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    395152 | NS      | $5381970.24   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Phinia Inc                                                 | PHINIA INC COMMON STOCK USD.01                             | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     67602 | NS      | $3007612.98   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                                              | PINTEREST INC  CLASS A COMMON STOCK USD.00001              | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89116 | NS      | $3195699.76   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc                                         | PLANET FITNESS INC   CL A COMMON STOCK                     | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     55119 | NS      | $6010726.95   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                                                | POPULAR INC COMMON STOCK USD.01                            | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     95668 | NS      | $10543570.28  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co                               | PORTLAND GENERAL ELECTRIC CO COMMON STOCK                  | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     53957 | NS      | $2192272.91   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines Inc                             | PRAXIS PRECISION MEDICINES I COMMON STOCK USD.0001         | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24769 | NS      | $1041536.45   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare Inc                           | PRESTIGE CONSUMER HEALTHCARE COMMON STOCK USD.01           | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19874 | NS      | $1586938.90   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp                                          | PRIMO BRANDS CORP COMMON STOCK USD.01                      | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |     73129 | NS      | $2166080.98   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp                                     | PRIMORIS SERVICES CORP COMMON STOCK USD.0001               | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |     27232 | NS      | $2122462.08   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                                      | QUEST DIAGNOSTICS INC COMMON STOCK USD.01                  | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     19969 | NS      | $3587031.47   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc                                      | RPM INTERNATIONAL INC COMMON STOCK USD.01                  | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     46170 | NS      | $5071312.80   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                                                 | RAMBUS INC COMMON STOCK USD.001                            | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     97218 | NS      | $6223896.36   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralliant Corp                                              | RALLIANT CORP COMMON STOCK USD.01                          | CUSIP: 750940108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18008 | NS      | $873191.82    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp                                          | RALPH LAUREN CORP COMMON STOCK USD.01                      | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |     18933 | NS      | $5192943.24   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp                                       | RANGE RESOURCES CORP COMMON STOCK USD.01                   | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    119112 | NS      | $4844285.04   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                                               | RAYONIER INC REIT                                          | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |    100173 | NS      | $2221837.14   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                                           | RBC BEARINGS INC COMMON STOCK USD.01                       | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11930 | NS      | $4590664.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                                                 | REDDIT INC CL A COMMON STOCK USD.0001                      | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27554 | NS      | $4148805.78   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                                       | REGENCY CENTERS CORP REIT USD.01                           | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     42435 | NS      | $3022645.05   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                                               | RELIANCE INC COMMON STOCK USD.001                          | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     20354 | NS      | $6389120.60   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                                              | REPLIGEN CORP COMMON STOCK USD.01                          | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |     22790 | NS      | $2834620.20   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Replimune Group Inc                                        | REPLIMUNE GROUP INC COMMON STOCK USD.001                   | CUSIP: 76029N106<br>LEI: 549300AY704NEIRC4K64 | Long             | EC               | CORP              | US        |    123753 | NS      | $1149665.37   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund                      | T. Rowe Price Government Reserve Fund \u2013 Collateral    | CUSIP: 76105YYY8<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        |   1430221 | NS      | $1430220.75   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                                   | REVOLUTION MEDICINES INC COMMON STOCK                      | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |     45059 | NS      | $1657720.61   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                              | REXFORD INDUSTRIAL REALTY IN REIT USD.01                   | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    107657 | NS      | $3829359.49   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                                 | RHYTHM PHARMACEUTICALS INC COMMON STOCK                    | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |     13321 | NS      | $841753.99    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp                                            | ROCKET LAB CORP COMMON STOCK                               | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38004 | NS      | $1359403.08   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc                             | SS+C TECHNOLOGIES HOLDINGS COMMON STOCK USD.01             | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     65726 | NS      | $5442112.80   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                                   | SAIA INC COMMON STOCK USD.001                              | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |     10603 | NS      | $2905115.97   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                                                | SAMSARA INC CL A COMMON STOCK USD.0001                     | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37839 | NS      | $1505235.42   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp                                  | SCHOLAR ROCK HOLDING CORP COMMON STOCK USD.001             | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |     55138 | NS      | $1952987.96   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Medical Holdings Corp                               | SELECT MEDICAL HOLDINGS CORP COMMON STOCK USD.001          | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    217401 | NS      | $3300147.18   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US                              | SERVICE CORP INTERNATIONAL COMMON STOCK USD1.0             | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |     51941 | NS      | $4227997.40   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc                               | SITEONE LANDSCAPE SUPPLY INC COMMON STOCK USD.01           | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     30890 | NS      | $3735836.60   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyward Specialty Insurance Group Inc                      | SKYWARD SPECIALTY INSURANCE COMMON STOCK USD.01            | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |     64852 | NS      | $3747797.08   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartstop Self Storage REIT Inc                            | SMARTSTOP SELF STORAGE REIT COMMON STOCK                   | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               | CORP              | US        |     73121 | NS      | $2649173.83   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Soleno Therapeutics Inc                                    | SOLENO THERAPEUTICS INC COMMON STOCK USD.001               | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |     22617 | NS      | $1894852.26   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| South Bow Corp                                             | SOUTH BOW CORP COMMON STOCK NPV                            | CUSIP: 83671M105<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |     43482 | NS      | $1126618.62   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co                                      | SOUTHWEST AIRLINES CO COMMON STOCK USD1.0                  | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     51011 | NS      | $1654796.84   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc                                           | STANDARDAERO INC COMMON STOCK USD.01                       | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186842 | NS      | $5913549.30   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc                                 | STANLEY BLACK + DECKER INC COMMON STOCK USD2.5             | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     67445 | NS      | $4569398.75   | 0.55%             |  |  |  | No            |                  1 | 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        |   1888683 | NS      | $1888682.57   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                                         | STEEL DYNAMICS INC COMMON STOCK USD.005                    | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     36422 | NS      | $4662380.22   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc                                        | STEPSTONE GROUP INC CLASS A COMMON STOCK USD.001           | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42849 | NS      | $2378119.50   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                                           | STONEX GROUP INC COMMON STOCK USD.01                       | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     38868 | NS      | $3542429.52   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                                                 | STRIDE INC COMMON STOCK USD.0001                           | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     25557 | NS      | $3710620.83   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                                        | SUN COMMUNITIES INC REIT USD.01                            | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     44933 | NS      | $5683575.17   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc                                     | TKO GROUP HOLDINGS INC COMMON STOCK USD.00001              | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14549 | NS      | $2647190.55   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG Inc                                                    | TPG INC COMMON STOCK                                       | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |     44264 | NS      | $2321646.80   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corp                                          | TALEN ENERGY CORP COMMON STOCK USD.001                     | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4192 | NS      | $1218907.84   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc                                  | TELEDYNE TECHNOLOGIES INC COMMON STOCK USD.01              | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |     11535 | NS      | $5909495.85   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp                                      | TENET HEALTHCARE CORP COMMON STOCK USD.05                  | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     48351 | NS      | $8509776.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                                        | TEXAS ROADHOUSE INC COMMON STOCK USD.001                   | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     18890 | NS      | $3540174.90   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc                                                | TEXTRON INC COMMON STOCK USD.125                           | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     88842 | NS      | $7133124.18   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                                              | TIDEWATER INC COMMON STOCK                                 | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |     29237 | NS      | $1348702.81   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                                              | TIMKEN CO COMMON STOCK                                     | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     28760 | NS      | $2086538.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                                          | TOLL BROTHERS INC COMMON STOCK USD.01                      | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     29774 | NS      | $3398106.62   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                                                | TORO CO COMMON STOCK USD1.0                                | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |     37384 | NS      | $2642301.12   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc                                       | TRADEWEB MARKETS INC CLASS A COMMON STOCK USD.00001        | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11350 | NS      | $1661640.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel + Leisure Co                                        | TRAVEL   LEISURE CO COMMON STOCK USD.01                    | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     72909 | NS      | $3762833.49   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                                | TREX COMPANY INC COMMON STOCK USD.01                       | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34396 | NS      | $1870454.48   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                                     | TYLER TECHNOLOGIES INC COMMON STOCK USD.01                 | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      4665 | NS      | $2765598.60   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                                            | ULTA BEAUTY INC COMMON STOCK                               | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      8225 | NS      | $3847819.50   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                              | ULTRAGENYX PHARMACEUTICAL IN COMMON STOCK USD.001          | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |     32330 | NS      | $1175518.80   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp                                      | US FOODS HOLDING CORP COMMON STOCK USD.01                  | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |     44579 | NS      | $3433028.79   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc                              | UNIVERSAL HEALTH SERVICES B COMMON STOCK USD.01            | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     10435 | NS      | $1890300.25   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Upwork Inc                                                 | UPWORK INC COMMON STOCK USD.0001                           | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | EC               | CORP              | US        |    262966 | NS      | $3534263.04   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| VF Corp                                                    | VF CORP COMMON STOCK                                       | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |     98145 | NS      | $1153203.75   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                                | VAXCYTE INC COMMON STOCK USD.001                           | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |     29413 | NS      | $956216.63    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vera Therapeutics Inc                                      | VERA THERAPEUTICS INC COMMON STOCK USD.001                 | CUSIP: 92337R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28768 | NS      | $677774.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp                                        | VERRA MOBILITY CORP COMMON STOCK USD.0001                  | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    163190 | NS      | $4143394.10   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                                | VIATRIS INC COMMON STOCK                                   | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    566279 | NS      | $5056871.47   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Viridian Therapeutics Inc                                  | VIRIDIAN THERAPEUTICS INC COMMON STOCK USD.01              | CUSIP: 92790C104<br>LEI: 549300C775BNYF550E70 | Long             | EC               | CORP              | US        |     26789 | NS      | $374510.22    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc                                           | VIPER ENERGY INC COMMON STOCK                              | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |    132170 | NS      | $5039642.10   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Investment Partners Inc                             | VIRTUS INVESTMENT PARTNERS COMMON STOCK USD.01             | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |      8544 | NS      | $1549881.60   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                                       | VORNADO REALTY TRUST REIT USD.04                           | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123667 | NS      | $4729026.08   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                                         | VOYA FINANCIAL INC COMMON STOCK USD.01                     | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     83628 | NS      | $5937588.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Warrior Met Coal Inc                                       | WARRIOR MET COAL INC COMMON STOCK USD.01                   | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |     22366 | NS      | $1025033.78   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp                                     | WEBSTER FINANCIAL CORP COMMON STOCK USD.01                 | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |    144092 | NS      | $7867423.20   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                                   | WESTERN ALLIANCE BANCORP COMMON STOCK USD.0001             | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |    104487 | NS      | $8147896.26   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                                               | WINGSTOP INC COMMON STOCK USD.01                           | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     18469 | NS      | $6219251.06   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Xencor Inc                                                 | XENCOR INC COMMON STOCK USD.01                             | CUSIP: 98401F105<br>LEI: 549300V5IF65437JKG30 | Long             | EC               | CORP              | US        |     51638 | NS      | $405874.68    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp                                    | ZEBRA TECHNOLOGIES CORP CL A COMMON STOCK USD.01           | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |      4581 | NS      | $1412597.16   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                                 | ZIMMER BIOMET HOLDINGS INC COMMON STOCK USD.01             | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     36570 | NS      | $3335549.70   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                                               | ALKERMES PLC COMMON STOCK USD.01                           | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     62085 | NS      | $1776251.85   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                                                 | AMDOCS LTD COMMON STOCK GBP.0001                           | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     25804 | NS      | $2354356.96   | 0.28%             |  |  |  | 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        |     69108 | NS      | $7174792.56   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd                                 | AXALTA COATING SYSTEMS LTD COMMON STOCK USD1.0             | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     54288 | NS      | $1611810.72   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Biohaven Ltd                                               | BIOHAVEN LTD COMMON STOCK                                  | CUSIP: G1110E107<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |     26558 | NS      | $374733.38    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dole PLC                                                   | DOLE PLC COMMON STOCK USD.01                               | CUSIP: G27907107<br>LEI: 635400JUG5XJXOPPJJ47 | Long             | EC               | CORP              | IE        |    114464 | NS      | $1601351.36   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                                          | EVEREST GROUP LTD COMMON STOCK USD.01                      | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      8350 | NS      | $2837747.50   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                                   | FABRINET COMMON STOCK USD.01                               | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      7043 | NS      | $2075431.24   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC                                  | GATES INDUSTRIAL CORP PLC COMMON STOCK USD.01              | CUSIP: G39108108<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |    108610 | NS      | $2501288.30   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC                              | WEATHERFORD INTERNATIONAL PL COMMON STOCK USD.001          | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     75996 | NS      | $3823358.76   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd                                 | RENAISSANCERE HOLDINGS LTD COMMON STOCK USD1.0             | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |     38442 | NS      | $9337561.80   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding PLC                           | SENSATA TECHNOLOGIES HOLDING COMMON STOCK EUR.01           | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |    240425 | NS      | $7239196.75   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                                             | TECHNIPFMC PLC COMMON STOCK USD1.0                         | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    284062 | NS      | $9783095.28   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd                                        | VIKING HOLDINGS LTD COMMON STOCK USD.01                    | CUSIP: G93A5A101<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     32930 | NS      | $1754839.70   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                                             | PERRIGO CO PLC COMMON STOCK EUR.001                        | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |    150597 | NS      | $4023951.84   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd                                      | CYBERARK SOFTWARE LTD/ISRAEL COMMON STOCK ILS.01           | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      7595 | NS      | $3090253.60   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.com Ltd                                             | MONDAY.COM LTD COMMON STOCK                                | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |      7115 | NS      | $2237525.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Merus NV                                                   | MERUS NV COMMON STOCK EUR.05                               | CUSIP: N5749R100<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |     15584 | NS      | $819718.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-04

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President