# EDGAR Filing Document

**Accession Number:** 0001727074
**File Stem:** 0001752724-25-182155
**Filing Date:** 2025-7
**Character Count:** 15958
**Document Hash:** 212a805d5099a9d7acd99e2dcc772aff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182155.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182155

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PGIM ETF TRUST
- **CENTRAL INDEX KEY:** 0001727074

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23324
- **FILM NUMBER:** 251159874

**BUSINESS ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102
- **BUSINESS PHONE:** (973) 802-5032

**MAIL ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102

## Series and Classes Contracts Data

### PGIM Portfolio Ballast ETF (Series ID: S000079107)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000239961 | PGIM Portfolio Ballast ETF | PBL             |

## Nport-Ex

### PGIM Portfolio Ballast ETF

### Schedule of Investments (unaudited)
as of May 31, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 50.3%** | **Long-Term Investments 50.3%** | **Long-Term Investments 50.3%** | **Long-Term Investments 50.3%** | **Long-Term Investments 50.3%** |
| **U.S. Treasury Obligations 49.4%** | **U.S. Treasury Obligations 49.4%** | **U.S. Treasury Obligations 49.4%** | **U.S. Treasury Obligations 49.4%** | **U.S. Treasury Obligations 49.4%** |
| U.S. Treasury Bonds | 4.125% | &nbsp;&nbsp;08/15/44 | &nbsp;&nbsp;1500 | &nbsp;&nbsp; $1348359 |
| U.S. Treasury Notes | 3.625 | &nbsp;&nbsp;09/30/31 | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5350899 |
| U.S. Treasury Notes | 3.875 | &nbsp;&nbsp;08/15/34 | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927500 |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;10/31/26 | &nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7309125 |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;10/31/29 | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14103906 |
| **Total U.S. Treasury Obligations<br> (cost $30,053,275)** | **Total U.S. Treasury Obligations<br> (cost $30,053,275)** | **Total U.S. Treasury Obligations<br> (cost $30,053,275)** | **Total U.S. Treasury Obligations<br> (cost $30,053,275)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30039789 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Shares** |  |
| **Unaffiliated Exchange-Traded Fund 0.9%** | **Unaffiliated Exchange-Traded Fund 0.9%** | **Unaffiliated Exchange-Traded Fund 0.9%** |
| Vanguard S&P 500 ETF<br> (cost $534,847) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541760 |
| **Total Long-Term Investments<br> (cost $30,588,122)** | **Total Long-Term Investments<br> (cost $30,588,122)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30581549 |
| **Short-Term Investments 49.4%** | **Short-Term Investments 49.4%** | **Short-Term Investments 49.4%** |
| **Affiliated Mutual Fund 20.0%** |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 4.462%)<br> (cost $12,125,781)(wb) | &nbsp;&nbsp;12125781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12125781 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | **Principal<br> Amount<br> (000)#** |  |
| **U.S. Treasury Obligations(n) 8.2%** | **U.S. Treasury Obligations(n) 8.2%** | **U.S. Treasury Obligations(n) 8.2%** | **U.S. Treasury Obligations(n) 8.2%** | **U.S. Treasury Obligations(n) 8.2%** |
| U.S. Treasury Bills | 4.313% | &nbsp;&nbsp;09/02/25 | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978413 |
| U.S. Treasury Bills | 4.848 | &nbsp;&nbsp;07/10/25 | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2986621 |
| **Total U.S. Treasury Obligations<br> (cost $4,962,799)** | **Total U.S. Treasury Obligations<br> (cost $4,962,799)** | **Total U.S. Treasury Obligations<br> (cost $4,962,799)** | **Total U.S. Treasury Obligations<br> (cost $4,962,799)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4965034 |

---

------

### PGIM Portfolio Ballast ETF

### Schedule of Investments (unaudited) (continued)
as of May 31, 2025

---

| | | |
|:---|:---|:---|
| **Description** |  | &nbsp;&nbsp;**Value** |
| **Options Purchased\*~ 21.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(cost $9,638,924) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12888965 |  |
| **Total Short-Term Investments<br> (cost $26,727,504)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29979780 |  |
| **TOTAL INVESTMENTS 99.7%<br> (cost $57,315,626)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60561329 |  |
| Other assets in excess of liabilities(z) 0.3% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176554 |  |
| **Net Assets 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$60737883 |  |

---

------

Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:

ETF—Exchange-Traded Fund <br> S&P—Standard & Poor's <br> SPDR—Standard & Poor's Depositary Receipts

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| # | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
| ~ | See tables subsequent to the Schedule of Investments for options detail. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments. |
| (n) | Rate shown reflects yield to maturity at purchased date. |
| (wb) | Represents an investment in a Fund affiliated with the Manager. |
| (z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |

---

#### Options Purchased :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** |
| **Description** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| SPDR S&P 500 ETF Trust &nbsp;&nbsp;Call | &nbsp;&nbsp;02/08/29 | &nbsp;&nbsp;$500.00 |  | &nbsp;&nbsp;450 |  | &nbsp;&nbsp;45 | &nbsp;&nbsp; $7796828 |
| SPDR S&P 500 ETF Trust &nbsp;&nbsp;Call | &nbsp;&nbsp;06/18/29 | &nbsp;&nbsp;$545.00 |  | &nbsp;&nbsp;335 |  | &nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;5092137 |
| **Total Options Purchased (cost $9,638,924)** | **Total Options Purchased (cost $9,638,924)** | **Total Options Purchased (cost $9,638,924)** | **Total Options Purchased (cost $9,638,924)** | **Total Options Purchased (cost $9,638,924)** | **Total Options Purchased (cost $9,638,924)** |  | &nbsp;&nbsp;$12888965 |

---

*Other information regarding the Fund is available in the Fund's most recent Report to Shareholders. This information is available on the Securities and Exchange Commission's website (www.sec.gov).*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PGIM ETF Trust

- **b. Investment Company Act file number:** 811-23324

- **c. CIK number of Registrant:** 0001727074

- **d. LEI of Registrant:** 549300OXS91LYTDQF355

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

  - **Street Address 1:** 655 Broad Street

  - **City:** Newark

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 07102-4077

  - **Telephone number:** 888-247-8090

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

- **a. Name of Series:** PGIM Portfolio Ballast ETF

- **b. EDGAR series identifier (if any):** S000079107

- **c. LEI of Series:** 5493007O4L6R2HCSDH72

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-30

**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:** $60765580.17

**Total Liabilities:** $23674.42

**Net Assets:** $60741905.75

**Cash Not Reported:** $48490.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1.21257000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000239961 | -3.96%               | -0.05%               | 3.51%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-196138.11                                |
| Month 2  | $-377665.03              | $350750.57                                 |
| Month 3  | $0.00                    | $-280460.40                                |

**Designated Index Information**

- **Index Name:** Blended Custom Benchmark

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                             | Title                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MORGAN STANLEY & CO. LLC                         | SPDR S&P 500 ETF TRUST                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       100 | NC      | $1520041.06   | 2.50%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $1348359.38   | 2.22%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5500000 | PA      | $5350898.41   | 8.81%             | 2031-09-30      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| (PIPA070) PGIM Core Government Money Market Fund | (PIPA070) PGIM Core Government Money Market Fund | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  12125781 | NS      | $12125781.24  | 19.96%            |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                    | United States Treasury Bill                      | CUSIP: 912797QM2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1978412.84   | 3.26%             | 2025-09-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7300000 | PA      | $7309125.00   | 12.03%            | 2026-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                      | SPDR S&P 500 ETF TRUST                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               | CORP              | GB        |       430 | NC      | $7450302.00   | 12.27%            |  |  |  | No            |                  2 | On Loan: No      |
| X-CHANGE FINANCIAL ACCESS LLC                    | SPDR S&P 500 ETF TRUST                           | CUSIP: 000000000<br>LEI: 549300OVQ8PL5DTHB273 | N/A              | DE               | CORP              | US        |        20 | NC      | $346525.67    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| X-CHANGE FINANCIAL ACCESS LLC                    | SPDR S&P 500 ETF TRUST                           | CUSIP: 000000000<br>LEI: 549300OVQ8PL5DTHB273 | N/A              | DE               | CORP              | US        |       100 | NC      | $1520041.06   | 2.50%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                         | SPDR S&P 500 ETF TRUST                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       135 | NC      | $2052055.43   | 3.38%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1927500.00   | 3.17%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                 | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14000000 | PA      | $14103906.18  | 23.22%            | 2029-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Vanguard S&P 500 ETF                             | Vanguard S&P 500 ETF                             | CUSIP: 922908363<br>LEI: N/A                  | Long             | EC               | RF                | US        |      1000 | NS      | $541760.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                                    | United States Treasury Bill                      | CUSIP: 912797LW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2986620.84   | 4.92%             | 2025-07-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** PGIM ETF Trust

**Signature:** Christian J. Kelly

**Name of Signer:** Christian J. Kelly

**Title:** Chief Financial Officer