# EDGAR Filing Document

**Accession Number:** 0001795351
**File Stem:** 0001795351-25-000515
**Filing Date:** 2025-8
**Character Count:** 22847
**Document Hash:** b0bd8ddc9cff12b553bc78672806eb15
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001795351-25-000515.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001795351-25-000515

**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:** 251256880

**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 Growth Stock ETF (Series ID: S000067977)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000217973 | T. Rowe Price Growth Stock ETF | TGRW            |

## 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 Growth Stock ETF

- **b. EDGAR series identifier (if any):** S000067977

- **c. LEI of Series:** 5493003JB5E3N41RI612

**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:** $325758568.91

**Total Liabilities:** $140311.39

**Net Assets:** $325618257.52

**Assets Attributable to Miscellaneous Securities:** $11777152.81

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000217973 | 1.42%                | 8.89%                | 6.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1852607.62             | $5920861.95                                |
| Month 2  | $-1899813.68             | $27536532.58                               |
| Month 3  | $3553521.08              | $15762393.80                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alphabet Inc                                               | ALPHABET INC CL A COMMON STOCK USD.001                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     60346 | NS      | $10634775.58  | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                             | AMAZON.COM INC COMMON STOCK USD.01                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     94340 | NS      | $20697252.60  | 6.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                              | AMPHENOL CORP CL A COMMON STOCK USD.001                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     30766 | NS      | $3038142.50   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                                  | APPLE INC COMMON STOCK USD.00001                           | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    146786 | NS      | $30116083.62  | 9.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                                              | APPLOVIN CORP CLASS A COMMON STOCK USD.00003               | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      6522 | NS      | $2283221.76   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                                  | ARGENX SE   ADR ADR                                        | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      3996 | NS      | $2202675.12   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp                                             | ATLASSIAN CORP CL A COMMON STOCK USD.00001                 | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |       432 | NS      | $87734.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                                              | BOEING CO/THE COMMON STOCK USD5.0                          | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |     14202 | NS      | $2975745.06   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                                       | BOOKING HOLDINGS INC COMMON STOCK USD.008                  | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       365 | NS      | $2113072.60   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                               | BROADCOM INC COMMON STOCK                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     51500 | NS      | $14195975.00  | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                                            | THE CIGNA GROUP COMMON STOCK USD.01                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      2945 | NS      | $973558.10    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                                 | CHIPOTLE MEXICAN GRILL INC COMMON STOCK USD.01             | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42548 | NS      | $2389070.20   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                                | COUPANG INC COMMON STOCK USD.0001                          | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |     77641 | NS      | $2326124.36   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                               | DANAHER CORP COMMON STOCK USD.01                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      8926 | NS      | $1763242.04   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                                               | DUOLINGO COMMON STOCK USD.0001                             | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2564 | NS      | $1051291.28   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                         | META PLATFORMS INC CLASS A COMMON STOCK USD.000006         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     24353 | NS      | $17974705.77  | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                                                 | FISERV INC COMMON STOCK USD.01                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      6984 | NS      | $1204111.44   | 0.37%             |  |  |  | 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        |      8158 | NS      | $619681.68    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                                        | GENERAL ELECTRIC COMMON STOCK USD.01                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     15417 | NS      | $3968181.63   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                                                | HUBSPOT INC COMMON STOCK USD.001                           | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      3139 | NS      | $1747261.57   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                                 | INTUIT INC COMMON STOCK USD.01                             | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      5975 | NS      | $4706089.25   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                                     | INTUITIVE SURGICAL INC COMMON STOCK USD.001                | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      9084 | NS      | $4936336.44   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                                  | KEYSIGHT TECHNOLOGIES IN COMMON STOCK USD.01               | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      6201 | NS      | $1016095.86   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                             | ELI LILLY + CO COMMON STOCK                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      9594 | NS      | $7478810.82   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc                                    | LULULEMON ATHLETICA INC COMMON STOCK USD.005               | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |       416 | NS      | $98833.28     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                             | MASTERCARD INC   A COMMON STOCK USD.0001                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     12655 | NS      | $7111350.70   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                                           | MERCADOLIBRE INC COMMON STOCK USD.001                      | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      1005 | NS      | $2626698.15   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                             | MICROSOFT CORP COMMON STOCK USD.00000625                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     93597 | NS      | $46556083.77  | 14.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                                 | NATERA INC COMMON STOCK                                    | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8657 | NS      | $1462513.58   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                                | NETFLIX INC COMMON STOCK USD.001                           | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      7282 | NS      | $9751544.66   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                                | NVIDIA CORP COMMON STOCK USD.001                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    292321 | NS      | $46183794.79  | 14.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc                                    | ROCKWELL AUTOMATION INC COMMON STOCK USD1.0                | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      4213 | NS      | $1399432.21   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                                     | ROPER TECHNOLOGIES INC COMMON STOCK USD.01                 | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      4000 | NS      | $2267360.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                                    | SCHWAB (CHARLES) CORP COMMON STOCK USD.01                  | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     29868 | NS      | $2725156.32   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                                             | SERVICENOW INC COMMON STOCK USD.001                        | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      5936 | NS      | $6102682.88   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                                                | SHOPIFY INC   CLASS A COMMON STOCK                         | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     24266 | NS      | $2799083.10   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                                              | SNOWFLAKE INC COMMON STOCK USD1.0                          | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     15597 | NS      | $3490140.69   | 1.07%             |  |  |  | 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        |   4575020 | NS      | $4575020.24   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                                               | STRYKER CORP COMMON STOCK USD.1                            | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      4816 | NS      | $1905354.08   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                                               | SYNOPSYS INC COMMON STOCK USD.01                           | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      5557 | NS      | $2848962.76   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                  | TAIWAN SEMICONDUCTOR SP ADR ADR                            | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     16159 | NS      | $3659851.91   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc                                  | TELEDYNE TECHNOLOGIES INC COMMON STOCK USD.01              | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      1754 | NS      | $898591.74    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                                  | TESLA INC COMMON STOCK USD.001                             | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     16787 | NS      | $5332558.42   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                               | THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       504 | NS      | $204351.84    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                                     | UNITEDHEALTH GROUP INC COMMON STOCK USD.01                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      4909 | NS      | $1531460.73   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                                   | VISA INC CLASS A SHARES COMMON STOCK USD.0001              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     30409 | NS      | $10796715.45  | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                                  | LINDE PLC COMMON STOCK                                     | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      4580 | NS      | $2148844.40   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                                      | SPOTIFY TECHNOLOGY SA COMMON STOCK EUR.000625              | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |      3583 | NS      | $2749379.22   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.com Ltd                                             | MONDAY.COM LTD COMMON STOCK                                | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |       406 | NS      | $127678.88    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                            | ASML HOLDING NV NY REG SHS NY REG SHRS EUR.09              | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      1919 | NS      | $1537867.41   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                                                 | FERRARI NV COMMON STOCK EUR.01                             | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |      5197 | NS      | $2550375.78   | 0.78%             |  |  |  | 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